ERP1989 Appendixes 2

Appendix B

STATISTICAL TABLES RELATING TO INCOME,

EMPLOYMENT, AND PRODUCTION

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

C O N T E N T S

NATIONAL INCOME OR EXPENDITURE: PageB-l, Gross national product, 1929-88 ........................................................ 308B-2. Gross national product in 1982 dollars, 1929-88 .............................. 310B-3. Implicit price deflators for gross national product, 1929-88 ............. 312B-4. Fixed-weighted price indexes for gross national product, 1982

weights, 1959-88 ............................. . ................................................ 314B-5. Changes in gross national product, personal consumption expendi-

tures, and related price measures, 1933-88 .................................... 315B-6. Gross national product by major type of product, 1929-88 .............. 316B-7. Gross national product by major type of product in 1982 dollars,

1929-88 ............................................................................................ 317B-8. Gross national product by sector, 1929-88 ........................................ 318B-9. Gross national product by sector in 1982 dollars, 1929-88 .............. 319B-10. Gross national product by industry, 1947-87 ..................................... 320B-l 1, Gross national product by industry in 1982 dollars, 1947-87 ........... 321B-l 2. Gross national product of nonfinancial corporate business, 1929-

88 ...................................................................................................... 322B-13. Output, costs, and profits of nonfinancial corporate business,

1948-88 ............................................................................................ 323B-14. Personal consumption expenditures, 1940-88 ................................... 324B-l 5. Personal consumption expenditures in 1982 dollars, 1940-88 .......... 325B-16. Gross and net private domestic investment, 1929-88 ........................ 326

HB-17. Gross and net private domestic investment in 1982 dollars, 1929-88 .......... . ............ . ............................................ . ............... . ................. 327

B-18. Inventories and final sales of business, 1946-88 ................................ 328B-19. Inventories and final sales of business in 1982 dollars, 1947-88 ...... 329B-20. Foreign transactions in the national income and product accounts,

1929-88 ................................ . ........................................................... 330B-21. Exports and imports of goods and services in 1982 dollars, 1929-

88 ...................................................................................................... 331B-22. Relation of gross national product, net national product, and na-

tional income, 1929-88 ........................ ...... ...................................... 332B-23. Relation of national income and personal income, 1929-88 ............. 333B-24. National income by type of income, 1929-88 .................................... 334B-25. Sources of personal income, 1929-88 ................................................ 336B-26. Disposition of personal income, 1929-88 ........................................... 338B-27. Total and per capita disposable personal income and personal con-

sumption expenditures in current and 1982 dollars, 1929-88 ....... 339B-28. Gross saving and investment, 1929-88 ............................................... 340B-29. Saving by individuals, 1946-88 ........................................................... 341B-30. Number and median income (in 1987 dollars) of families and per-

sons, and poverty status, by race, selected years, 1965-87 ............ 342

303


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY: PageB-31. Population by age groups, 1929-88 343B-32. Population and the labor force, 1929-88 344B-33. Civilian employment and unemployment by sex and age, 1947-88.. 346B-34. Civilian employment by demographic characteristic, 1954-88 347B-35. Unemployment by demographic characteristic, 1954-88 348B-36, Labor force participation rate and employment/population ratio,

1948-88 349B-37, Civilian labor force participation rate by demographic characteris-

tic, 1954-88...'. 350B-38, Civilian employment/population ratio by demographic characteris-

tic, 1954-88 351B-39. Unemployment rate, 1948-88 352B-40. Civilian unemployment rate by demographic characteristic, 1948-

88 353B-41. Unemployment by duration and reason, 1947-88 354B-42. Unemployment insurance programs, selected data, 1955-88 355B-43. Employees on nonagricultural payrolls, by major industry, 1946-88 356B-44. Average weekly hours and hourly earnings in selected private non-

agricultural industries, 1947-88 358B-45. Average weekly earnings in selected private nonagricultural indus-

tries, 1947-88., 359B-46. Productivity and related data, business sector, 1947-88 360B-47. Changes in productivity and related data, business sector, 1948-88. 361

PRODUCTION AND BUSINESS ACTIVITY:B-48. Industrial production indexes, major industry divisions, 1939-88.... 362B-49. Industrial production indexes, market groupings, 1947-88 363B-50, Industrial production indexes, selected manufactures, 1947-88 364B-51. Capacity utilization rates, 1948-88 365B-52, New construction activity, 1929-88 366B-53. New housing units started and authorized, 1959-88 368B-54, Business expenditures for new plant and equipment, 1947-89 369B-55. Manufacturing and trade, sales and inventories, 1948-88 370B-56, Manufacturers' shipments and inventories, 1947-88 371B-57. Manufacturers' new and unfilled orders, 1947-88 372

PRICES:B-58, Consumer price indexes, major expenditure classes, 1946-88 373B-59. Consumer price indexes, selected expenditure classes, 1946-88 374B-60. Consumer price indexes, commodities, services, and special

groups, 1946-88 376B-61, Changes in special consumer price indexes, 1958-88 377B-62. Changes in consumer price indexes, commodities and services,

1929-88 378B-63. Producer price indexes by stage of processing, 1947-88 379B-64. Producer price indexes by stage of processing, special groups,

1974-88 381B-65. Producer price indexes for major commodity groups, 1947-88 382B-66. Changes in producer price indexes for finished goods, 1955-88 384

304


MONEY STOCK, CREDIT, AND FINANCE:Page

B-67, Money stock, liquid assets, and debt measures, 1959-88 385B-68. Components of money stock measures and liquid assets, 1959-88... 386B-69. Aggregate reserves of depository institutions and monetary base,

1959-88 388B-70. Commercial bank loans and securities, 1972-88 389B-71, Bond yields and interest rates, 1929-88 390B-72. Total funds raised in credit markets by nonfinancial sectors, 1979-

88 392B-73. Mortgage debt outstanding by type of property and of financing,

1939-88 394B-74. Mortgage debt outstanding by holder, 1939-88 395B-75. Consumer credit outstanding, 1950-88 396

GOVERNMENT FINANCE:B-76, Federal receipts, outlays, surplus or deficit, and debt, selected

fiscal years, 1929-90 397B-77. Federal receipts, outlays, and debt, fiscal years 1980-90 398B-78. Relation of Federal Government receipts and expenditures in the

national income and product accounts to the budget, fiscal years1988-90 400

B-79. Federal and State and local government receipts and expenditures,national income and product accounts, 1929-88 401

B-80. Federal and State and local government receipts and expenditures,national income and product accounts, by major type, 1929-88... 402

B-81. Federal Government receipts and expenditures, national incomeand product accounts, 1967-90 403

B-82. State and local government receipts and expenditures, nationalincome and product accounts, 1946-88 404

B-83, State and local government revenues and expenditures, selectedfiscal years, 1927-87 405

B-84. Interest-bearing public debt securities by kind of obligation, 1967-88 406

B-85. Maturity distribution and average length of marketable interest-bearing public debt securities held by private investors, 1967-88. 407

B-86. Estimated ownership of public debt securities, by private investors,1976-88 408

CORPORATE PROFITS AND FINANCE:B-87. Corporate profits with inventory valuation and capital consumption

adjustments, 1929-88 409B-88. Corporate profits by industry, 1929-88 410B-89. Corporate profits of manufacturing industries, 1929-88 411B-90. Sales, profits, and stockholders' equity, all manufacturing corpora-

tions, 1950-88 412B-91. Relation of profits after taxes to stockholders' equity and to sales,

all manufacturing corporations, 1947-88 413B-92. Sources and uses of funds, nonfarm nonfinancial corporate busi-

ness, 1946-88 414B-93, State and municipal and business securities offered, 1940-88 415B-94. Common stock prices and yields, 1949-88 416B-95. Business formation and business failures, 1945-88 417

305Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

AGRICULTURE:B-96. Farm income, 1929-88 418B-97, Farm output and productivity indexes, 1947-88 419B-98. Farm input use, selected inputs, 1947-87 420B-99, Indexes of prices received and prices paid by farmers, 1948-88 421B-100. U.S. exports and imports of agricultural commodities, 1940-88 422B-101. Balance sheet of the farm sector, 1939-88 423

INTERNATIONAL STATISTICS:B-102. U.S. international transactions, 1946-88 424B-103, U.S. merchandise exports and imports by principal end-use catego-

ry, 1965-88 426B-104. U.S. merchandise exports and imports by area, 1979-88 427B-105. U.S. merchandise exports, imports, and trade balance, 1970-88 428B-106. International investment position of the United States at year-end,

1980-87 429B-107. International reserves, selected years, 1952-88 430B-108, Foreign exchange rates, 1967-88 431B-109, Industrial production and consumer prices, major industrial coun-

tries, 1962-88 432B-110. Civilian unemployment rate, and hourly compensation, major in-

dustrial countries, 1960-88 433B-lll. Growth rates in real gross national product, 1961-88 434


General Notes

Detail in these tables may not add to totals because of rounding.Unless otherwise noted, all dollar figures are in current dollars.Symbols used:

p Preliminary.Not available (also, not applicable).

Data in these tables reflect revisions made by the source agencies during 1988.

307


NATIONAL INCOME OR EXPENDITURE

TABLE B-l.—Gross national product, 1929-88

[Billions of dollars, except as noted; quarterly data at seasonally adjusted annual rates]

Year or quarter

192919331939 ....194019411942194319441945 .1946194719481949 ....1950195119521953195419551956.. .1957195819591960 .19611962 ..196319641965.. .19661967196819691970197119721973197419751976197719781979198019811982.198319841985198619871982: IV1983- IV1984: IV1985: IV1986:1

H..IllIV

1987- 1f |Ill .IV

1988- 1||II I

Grossnationalproduct

103.956.091.3

100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4288.3333.4351.6371.6372.5405.9428.2451.0456.8495.8515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9

1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.22,732.03,052.63,166.03,405.73,772.24,014.94,240.34,526.73,212.53,545.83,851.84,107.94,180.44,207.64,268.44,304.64,391.84,484.24,568.04,662.84,724.54,823,84,909.0

Personal consumption expenditures

Total

77.345.867.071.080.888.699.5

108.2119.6143.9161.9174.9178.3192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9640.0691.6757.6837.2916.5

1,012.81,129.31,257.21,403.51,566.81,732.61,915.12,050.72,234.52,430.52,629.02,807.53,012.12,117.02,315.82,493.42,700.42,739.02,772.12,842.82,876.02,921.72,992.23,058.23,076.33,128.13,194.63,261.2

Durablegoods

9.23.56.77.89.76.96.56.78.0

15.820.422.925.030.829.929.332.732.138.938.239.737.242.843.541.947.051.856.863.568.570.681.086.285.797.6

111.2124.7123.8135.4161.5184.5205.6219.0219.3239.9252.7289.1335.5372.2406.5421.9263.8310.0346.7373.2381.4393.0429.9421.8403.5420.5441,4422.0437.8449.8452.9

Non-durablegoods

37.722.335.137.042.950.858.664.371.982.790.996.694.998.2

109.2114.7117.8119.7124.7130.8137.1141.7148.5153.2157.4163.8169.4179.7191.9208.5216.9235.0252.2270.3283.3305.1339.6380.9416.2452.0490.4541.8613.2681.4740.6771.0816.7867.3911.2943.6997.9786.6837.9879.6932.7938.4937.2944.7954.1977.5995.3

1,006.61,012.41,016.21,036.61,060.8

Services

30.420.125.226.228.331.034.337.239.745.450.655.558.463.269.075.182.188.094.3

101.6108.5115.7125.0134.0141.8151.1160.6172.8185.4200.3216.0236.4259.4284.0310.7341.3373.0411.9461.2515.9582.3

831.9934.7

1,027.01,128.71,227.61,345.61,457.31,592.31,066.51,167.91,267.11,394.51,419.21,441.91,468.21,500.11,540.71,576.41,610.21,641.91,674.11,708.21,747.5

Gross private domestic investment

Total

16.71.69.5

13.418.310.36.27.7

11.331.535.047.136.555.160.553.554.954.169.772.771.163.680.278.277.187.693.199.6

116.2128.6125.7137.0153.2148.8172.5202.0238.8240.8219.6277.7344.1416.8454.8437.0515.5447.3502.3664.8643.1665.9712.9409.6579.8661.8654.1686.6667.8653.0656.4685.5698.5702,8764.9763.4758.1772.5

Fixed investment

Total

14.93.19.1

11.213.88.56.98.7

12.325.135.542.439.548.350.250.554.555.764.068.069.765.174.475.174.781.587.394.2

106.2114.4115.4129.1143.4145.7164.7191.5219.2225.4225.2261.7322.8388.2441.9445.3491.5471.8509.4597.1631.8650.4673.7469.5548.8616.8646.8642.6648.3652.3658.4647.8665.8688.3692.9698.1714.4722.8

Nonresidential

Total

11.02.56.17.79.76.35.47.4

10.617.323.526.824.927.831.831.935.134.739.044.547.542.446.348.848.352.555.261.473.183.584.491.4

102.3105.2109.6123.0145.9160.6162.9180.0214.2259.0302.8322.8369.2366,7356.9416.0442.9433.9446.8354.9383.9435.0451.3438.9431.9430.6434.1422.8438.2462.1464.1471.5487.8493.7

Struc-tures

5.51.12.22.63.32.21.82.43.37.48.19.59.2

10.011.912.213.613.915.218.218.917.518.019.219.420.520.822.727.430.530.732.937.139.240.944.551.457.056.360.166.781.099.5

113.9138.5143.3124.0141.1153.2138.5139.5137.6127.4146.6155.9151.1136.1132.0134.6132.7134.4143.0147.7140.1142.3143.8

Pro-ducers'durableequip-ment

5.51.43.95.26.44.13.75.07.39.9

15.317.315.717.819.919.721.520.823.926.328.624.928.329.728.932.134.438.745.853.053.758.565.266.168.778.594.5

103.6106.6119.9147.4178.0203.3208.9230.7223.4232.8274.9289.7295.4307.3217.3256.5288.4295.5287.8295.7298.5299.4290.1303.8319.1316.3331.3345.5349.9

Resi-dential

4.0.6

3.03.54.12.21.41.41.77.8

12.115.614.620.518.418.619.421.125.023.522.222.728.126.326.429.032.132.833.130.931.137.741.240.555.168.673.364.862.381.7

108.6129.2139.1122.5122.3105.1152.5181.1188.8216.6226.9114.7164.9181.8195.5203.6216.4221.8224.4225.0227.6226.2228.8226.6226.5229.1

Changein

busi-ness

inven-tories

1.7-1.6

2,24.51.8

-.6-1.0-1.0

6.4-.54.7

-3.16.8

10.23.1

.4-1.6

5.74.61.4

-1.55.83.12.46.15.85.49.9

14.210.37.99.83.17.8

10.519.615.4

-5.616.021.328.613.0

-8.324.0

-24.5-7.167.711.315.539.2

-59.931.045.0

7.244.019.5

-2io37.732.714,572.065.343.749.7

See next page for continuation of table.


TABLE B-l.—Gross national product, 1929-88—Continued


Year orquarter

19291933193919401941194219431944194519461947194819491950195119521953 .19541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982 1198319841985198619871982: IV1983: IV1984: IV1985: IV1986: 1

III l lIV

1987:1IIIllIV

1988:1III l l

Net exports of goods andservices

Netexports

1.1.4

1.21.81.5.2

-1.9-1.7

57.8

11.97.06.52.24.53.21.32.63.05.37.33.31.55.97.26.98.2

10.99.77.57.45.55.68.56.33.2

16.816.331.118.81.94.1

18.832.133.926.3

-6.1-58.9-78.0

-104.4-123.0

14.1-25.8-67.9

-103.2-93.0

-101.2-109.1-114.3-119.1-122.2-125.2-125.7-112.1-90.4-80.0

Exports

7.12.44.65.46.15.04.65.57.4

15.220.317.516.414.519.819.218.118.821.125.228.224.425.029.931.133.135.740.542.946.649.554.860.468.972.481.4

114.1151.5161.3177.7191.6227.5291.2351.0382.8361.9352.5383.5370.9378.4428.0335.9364.7385.7369.2376.9373.9377.8385.2395.3416.8440.4459.7487.8507.1536.1

m ports

5.92.13.43.74.74.86.57.27.97.38.3

10.69.8

12.315.316.016.816.318.119.920.921.123.524.023.926.227.529.633.239.142.149.354.760.566.178.297.3

135.2130.3158.9189,7223.4272.5318.9348.9335.6358.7442.4448.9482.8551.1321.9390.5453.6472.4469.9475.1486.9499.4514.4539.0565.6585.4599.9597.5616.0

Government purchases of goods andservices

Total

8.98.3

13.614.225.059.988.997.183.029.126.432.639.038.860.475.882.876.075.379.787.395.497.9

100.6108.4118.2123.8130.0138.6158.6179.7197.7207.3218.2232.4250.0266.5299.1335.0356.9387.3425.2467.8530.3588.1641.7675.0735.9820.8871.2924.7671.8676.1764.5856.7847.8868.8881.8886.5903.8915.7932.2947.3945.2961.6955.3

Federal

Total

1.52.25.26.1

17.052.081.489.474.819.213.617.321.119.138.652.757.948.444.946.450.554.554.654.458.264.665.766.468.780.492.7

100.1100,098.899.8

105.8106.4116.2129.2136.3151.1161.8178.0208.1242.2272.7283.5310.5355.2366.2382.0293.2276.1326.0376.6356.6368.7372.7366.7372.7377.5386.3391.4377.7382.2367.7

Nation-al

defense

1.32.3

13.849.479.887.573.716.410.011.313.914.333.846.249.041.639.040.744.646.346.445.347.952.151.550.451.062.073.479.178.976.874.177.477.582.689.693.4

100.9108.9121.9142.7167.5193.8214.4234.3259.1277.5295.3205.4221.5244.1268.6266.8277.2288.0278.1287.3294.8299.8299.2298.4298.8294.3

Non-de-

fense

3.93.93.22.61.62.01.12.83.66.07.24.74.86.58.96.86.05.75.98.38.29.2

10.212.614.216.017.718.319.321.021.122.025.828.428.933.639.642.950.352.956.165.474.878.969.176.296.088.786.787.754.681.9

108.089.991.584.788.785.482.686.492.279.383.473.4

Stateandlocal

7.46.18.38.18.07.87.57.68.29.9

12.815.318.019.821.823.124.827.730.333.336.940.843.346.150.253.558.163.569.978.287.097.6

107.2119.4132.5144.2160.1182.9205.9220.6236.2263.4289.93222345.9369.0391.5425.3465.6505.0542.8378.7400.0438.5480.1491.2500.2509.1519.7531.1538.2546.0555.9567.5579.4587.6

Finalsales

102.257.690.998.3

121.0157.2193.4

-212.3214.4206.0235.7256.9263.4281.4323.2•348.6371.1374.1400.2423.6449.6458.3490.0512.3531.4568.5601.1644.4695.2757.8806.1884.8954.1

1,012.31,094.91,202.31,339.71,457.41,604.11,766.81,969.22,221.02,495.22,740.33,028.63,190.53,412.83,704.54,003.64,224.74,487.53,272.43,514.83,806.84,100.74,136.54,188.14,267.74,306.64,354.14,451.54,553.54,590.74,659.24,780.14,859.3

Grossdomestic

pur-chases >

102.855.790.198.7

124.1158.8194.6213.0213.9204.5223.3254.7253.8286.0329.0348.4370.3370.0402.9422.9443.7453.5494.3509.4526.6567.7598.7638.9695.4764.5809.0887.2958.3

1,007.01,096.41,209.61,342.51,456.51,567.41,764.01,988.62,245.62,489.42,699.83,018.73,139.73,411.83,831.14,092.84,344.74,649.73,198.53,571.63,919.74,211.24,273.44,308.74,377.64,418.94,510.94,606,34,693.24,788,44,836.64,914.24,989.0

. Percent change frompreceding period

Grossnation-

alprod-uct

427.0

10.025.026.621.29.7

.9

las11.2-.510.715.75.55.7

9^05.55.31.38.53.93.67.65.67.18.59.55.89.38.05.48.6

10.012.18.38.5

11.511.713.011.58.9

11.73.77.6

10.86.45.66.84.2

12.44.76.27.22.65.93.48.48.77.78.65.48.77.3

Finalsales

-5.55.48.1

23.229.923.09.81.0

-3.914.49.02.56.8

14.87.96.5.8

7.05.86.11.96.94.63.77.05.77.27.99.06.49.87.86.18.29.8

11.48.8

10.110.111.512.812.39.8

10.55.37.08.58.15.56.2

11.07.87.05.53.55.17.83.74.59.39.53.36.1

10.86.8

Grossdomestic

pur-chases >

4 27.39.5

25.728.022.69.5

.4-4.4

9.214.0-.312.715.05.96.3

l!s5.04.92.2

° 9.03.13.47.85.56.78.89.95.89.78.05.18.9

10.311.08.57.6

12.512.712.910.98.5

11.84.08.7

12.36.86.27.04.3

13.15.58.36.03.36.63.88.68.77.88.44.16.66.2

1 Gross national product (GNP) less exports of goods and services plus imports of goods and services.Source: Department of Commerce, Bureau of Economic Analysis.

309


TABLE B-2.—Gross national product in 1982 dollars, 1929-88

[Billions of 1982 dollars, except as noted; quarterly data at seasonally adjusted annual rates]

Year orquarter

192919331939 .1940194119421943 , ....194419451946194719481949195019511952 ....195319541955,1956195719581959I9601961 .1962196319641965196619671968196919701971197219731974197519761977 ....197819791980198119821983 .. .19841985198619871982- IV1983- IV1984: IV1985: IV1986:1

II . , . .I l lIV

1987- 1 ..III l lIV

1988: 1III I I , . .


709.6498.5716.6772.9909.4

1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.01,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.11,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.32,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.43,187.13,248.83,166.03,279.13,501.43,618.73,721.73,847.03,159.33,365.13,535.23,662.43,719.33,711.63,721.33,734.73,776.73,823.03,865.33,923.03,956.13,985.24,009.4

Personal consumptionexpenditures

Total

471.4378.7480.5502.6531.1527.6539.9557.1592.7655.0666.6681.8695.4733.2748.7771.4802.5822.7873.8899.8919.7932.9979.4

1,005.11,025.21,069.01,108.41,170.61,236.41,298.91,337.71,405.91,456.71,492.01,538.81,621.91,689.61,674.01,711.91,803.91,883.81,961.02,004.42,000.42,024.22,050.72,146.02,249.32,354.82,455.22,521.02,078.72,191.92,281.12,386.92,415.12,440.92,478.62,486.22,490.22,516.62,545.22,531.72,559.82,579.02,603.8

Durablegoods

40.320.735.740.646.231.328.126.328.747.856.561.767.880.774.773.080.281.596.992.892.486.996.998.093.6

103.0111.8120.8134.6144.4146.2161.6167.8162.5178.3200.4220.3204.9205.6232.3253.9267.4266.5245.9250,8252.7283.1323.1355.1385.0390.9262.0300.5333.1356.4363.3374.2405,1397.3378.3391.3406.5387.6401.1410.6410.4

Non-durablegoods

211.4181.8248.0259.4275.6279.1284.7297.9323.5344.2337.4338.7342.3352.8362.9376.6388.2393.8413.2426.9434.7439.9455.8463.3470.1484.2494.3517.5543.2569.3579.2602.4617.2632,5640.3665.5683,2666.1676.5708.8731.4753.7766.6762.6764.4771.0800.2825.9847.4879.5890.5778.6812.7831.2858.3870.4880.9881.4885.3889.9889.8891.9890.5892.7893.6904.5

Services

219.7176.2196.7202.7209.3217.2227.2232.9240.5262.9272.6281.4285.3299.8311.1321.9334.1347.4363.6380.1392.6406.1426.7443.9461.4481.8502.3532.3558.5585.3612.3641.8671.7697.0720.2756.0786.1803.1829.8862.8898.5939.8971.2991.9

1,009.01,027.01,062.71,100.31,152,31,190.71,239.51,038.11,078.61,116.81,172.21,181.41,185.81,192.01,203,61,222.01,235.51,246,81,253.61,265.91,274.81,288.9

Gross private domestic investment

Total

139.222.786.0

111.8138.876.750.456.476.5

178.1177.9208.2168.8234.9235.2211.8216.6212.6259.8257.8243.4221.4270.3260.5259.1288.6307.1325.9367.0390.5374.4391.8410.3381.5419.3465.4520.8481.3383.3453.5521.3576.9575.2509.3545.5447.3504.0658.4637.0643.5674.8408.8577.2655.7648.0678.0652.1627.6616.5646.4660.1667.9724.7728.9715.1726.1

Fixed investment

Total

128.433.582.197.4

111.164.749.761.684.9

150.2178.9196.0178.4210.8204.3201.8213.8217.3243.5244.9240.4224.8253.8252.7251.8272.4290.5310.2341.8353.7345.6370.7385.1373.3399.7443.7480.8448.0396.1431.4492.2540.2560.2516.2521.7471.8510.4596.1627.9628.1640.4468.1550.3614.0640.4632.4628.5624.6627.0616.6632.3654.9657.6662.9679.7686.6

Nonresidential

Total

93.025.853.265.076.647.439.452.674.2

105.5121.7127.4114.8124.0131.7130.6140.1137.5151.0160.4161.1143.9153.6159.4158.2170.2176.6194.9227.6250.4245.0254.5269.7264.0258.4277.0317.3317.8281.2290.6324.0362.1389.4379.2395.2366.7361.2425.2453.5433.1445.1352.3390.4444.4460.9446.8432.8425.6427.3418.2434.8462.8464.8473.4490.2495.0

Struc-tures

54.714.325.228.533.420.915.620.427.050.947.550.549.352.856.557.362.364.969.475.575.270.671.976.177.781.381.687.9

101.8108.0105.4108.0112.9111.1107.3109.5117.7115.2102.8104.4108.3119.3130.6136.2148.8143.3127.2143.8149.5129.3125.5138.3131.6147.1149.9145.1126.7121.7123.8121.0120.9128.0132.1124.0125.0125.8


38.411.528.036.543.226.523.832.147.254.774.276.965.571.275.273.377.772.781.784.985.973.381.783.380.588.995.1

107.0125.8142.4139.6146.5156.8152.9151.0167,5199.6202.7178.4186.2215.7242.8258.8243.0246.4223.4233.9281.4304.0303.8319.6214.1258.8297.3311.1301.7306.1303.9303.5297.2313.8334.7332.7349.4365.1369.2

Resi-dential

35.47.7

28.932.534.417.310.49.0

10.744.757.268.663.686.772.671.273.879.892.484.479.381.0

100.293.393.6

102.2113.9115.3114.2103.2100.6116.2115.4109.3141.3166.6163.4130.2114.9140.8168.1178.0170.8137,0126.5105.1149.3170.9174.4195.0195.2115.8159.9169.6179.4185.5195.7199.0199.7198.4197.6192.1192.7189.5189.6191.6

Changein

busi-ness

inven-tories

10.8-10.7

3.914.427.812.0

.7-5.2-8.427.9

-1.012,3

-9.724.230.810.02.8

-4.816.312.93.0

-3.416.57.77.3

16.216.615.725.236.928.821.025.18.2

19.621.840.033.3

-12.822.129.136.815.0

-6,923.9

-24.5-6.462.39.1

15.434.4

=-59.327.041.7

7,745.723.6

3.0-10.5

29.827.813.067.166.D35.339.5



TABLE B-2.—Gross national product in 1982 dollars, 1929-88—Continued

[Billions of 1982 dollars, except as noted; quarterly data at seasonally adjusted annual rates]

Year orquarter

1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961 ..196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983: IV1984: IV1985: IV1986- 1

III l lIV

1987:1IIIllIV

1988:1III l l

Net exports of goods andservices

Netexports

4.7-1.4

6.18.23.9

-7.7-23.0-23.8-18.9

27.042.419.218.84.7

14.66.9

-2.72.5

.04.37.0

-10.3-18.2-4.0-2.7-7.5-1.9

5.9-2.7

-13.7-16.9-29.7-34.9-30.0-39.8-49.4-31.5

.818.9

-11.0-35.5-26.8

3.657.049.426.3

-19.9-84.0

-104.3-137.5-128.9

11.7-46.2-94.8

-125.3-115.7-140.2-151.8-142.4-132.8-126.0-130.7-126.0-109.0-92.6-93.9

Exports

42.122.736.240.042.029.125.127.335.269.082.366.265.059.272.070.166.970.076.987.994.982.483.798.4

100.7106.9114.7128.8132.0138.4143.6155.7165.0178.3179.2195.2242.3269.1259.7274.4281.6312.6356.8388.9392.7361.9348.1371.8367.2378.4427.8336.0355.5376.6367.4374.5372.1379.1387.8394.9416.4440.9459.2486.2496.9514.0

Imports

37.424.230.131.738.236.948.051.154.142.039.947.146.254.657.463.369.767.576.983.687.992.8

101.9102.4103.3114.4116.6122.8134.7152.1160.5185.3199.9208.3218.9244.6273.8268.4240.8285.4317.1339.4353.2332.0343.4335.6368.1455.8471.4515.9556.7324.3401.6471.4492.6490.2512.4530.9530.2527.7542.3571.6585.2595.1589.5607.9

Government purchases of goods andservices

Total

94.298.5

144.1150.2235.6483.7708.9790.8704.5236.9179.8199.5226.0230.8329.7389.9419.0378.4361.3363.7381.1395.3397.7403.7427.1449.4459.8470.8487.0532.6576.2597.6591.2572.6566.5570.7565.3573.2580.9580.3589.1604.1609.1620.5629.7641.7649.0677.7731.2760.5780.2660.1642.2693.2752.7741.8758.8766.9774.5772.9772.2782.9792.6776.4783.8773.5

Federal

Total

18.327.053.863.6

153.0407.1638.1722.5634.0159.391.9

106.1119.5116.7214.4272.7295.9245.0217.9215.4224.1224.9221.5220.6232.9249.3247.8244.2244.4273.8304.4309.6295.6268.3250.6246.0230.0226.4226.3224.2231.8233.7236.2246.9259.6272.7275.1290.8326.0333.4339.0289.5266.0300.5340.6322.7333.6336.7340.5334.0332.1342.1347.7327.8331.6320.1

Nation-al

de-fense

"'185T171.0163.3161.1157.5159.2160.7164.3171.2180.3193.8206.9218.5237.2251.4264.9201.4211.6225.3241.4241.1250.8260.7253.1257.0264.8269.5268.2264.6263.6256.4

Non-de-

fense

so!?"59.163.165.266.872.773.071.975.779.378.968.272.388.882.074.188.254.475.299.281.682.876.087.477.067.372.679.563.267.963.7

Stateandlocal

75.971.590.386.682.676.770.868.370.577.687.993.4

106.5114.2115.4117.3123.1133.4143.4148.3157.0170.4176.2183.1194.2200.1212.0226.6242.5258.8271.8288.0295.6304.3315.9324.7335.3346.8354.6356.0357.2370.4373.0373.6370.1369.0373.9387.0405.2427.1441.23'70.6376.2392.7412.1419.1425.2430.2434.0438.9440.1440.8444.9448.7452.2453.4

Finalsales

698.7509.2712.7758.5881.6

1,068.31,275.51,385.71,363.31,069.01,067.71,096.41,118.71,179.51,297.41,370.01,432.51,421.01,478.61,512.71,548.11,542.61,612.61,657.51,701.41,783.31,856.71,957.62,062.42,171.52,242.62,344.62,398.12,407.92,465.22,586.82,704.12,696.02,707.82,804.62,929.53,078.43,177.43,194.03,225.03,190.53,285.53,439.13,609.63,706.33,812.63,218.63,338.13,493.53,654.73,673.63,688.03,718.33,745.23,746.93,795.23,852.23,855.93,890.13,949.93,969.9

Grossdomestic

pur-chases *

704.9499.9710.5764.6905.5

1,088.01,299.21,404.31,373.71,069.91,024.31,089.51,090.21,199.01,313.61,373.11,438.01,413.71,494.91,521.31,544.21,549.61,647.31,669.31,711.31,807.01,875.31,967.32,090.32,222.12,288.32,395.32,458.12,446.22,524.62,658.02,775.72,728.52,676.12,837.72,994.13,142.03,188.83,130.13,199.43,139.73,299.13,585.43,723.03,859.33,975.93,147.63,411.33,630.03,787.63,834.93,851.83,873.03,877.23,909.53,949.03,996.04,049.04,065.14,077.94,103.4

Percent change frompreceding period

Grossnation-

alprod-uct

-2.17.97.8

17.718.818.18.2

-1.9-19.0-2.8

3.9.0

8.510.33.94.0

-1.35.62.11.7

-.85.82.22.65.34.15.35.85.82.94.12.4

l!s5.05.2

-~U4.94.75.32.5

~L9-2.5

3.66.83.42.83.4

.67.31.73.06.4-.81.01.44.65.04.56.13.43.02.5

Finalsales

-3.16.36.4

16.221.219.48.6

-1.6-21.6

~2.72.05.4

10.05.64.6-.84.12.32.3

4!52.82.64.84.15.45.45.33.34.52.3

.42.44.94.5-.3

.43.64.55.13.2.5

1.0-1.1

3.04.75.02.72.97.13.84.01.62.11.63.32.9

.25.36.1

3.66.32.0

Grossdomestic

pur-chases 1

-1.97.97.6

18.420.119.48.1

-2.2-22.1-4.3

6.4.1

10.09.64.54.7

-1.75.71.81.5.4

6.31.32.55.63.84.96.36.33.04.72.6-.53.25.34.4

-1.7-1.9

6.05.54.91.5

-1.82.2

-1.95.18.73.83.73.0

.68.62.74.85.11.82.2.4

3.44.14.85.41.61.32.5

1GNP less exports of goods and services plus imports of goods and services.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-3.—Implicit price deflators for gross national product, 1929-88

[Index numbers, 1982-100, except as noted; quarterly data seasonally adjusted]

Year or quarter

19291933193919401941194219431944194519461947 ....194819491950195119521953195419551956195719581959I9601961 ....19621963 ..19641965196619671968196919701971197219731974197519761977197819791980 ... .19811982198319841985 .,198619871982- IV1983- tV.1984: IV1985: IV1986:1

IIIllIV

1987- 1 .||II IIV

1988-1 . .II..I I I .


14.611.212.713.013.814.715.115.315.719.422.123.623.523.925.125.525.926.327.228.129.129.730.430.931.231.932.432.933.835.035.937.739.842.044.446.549.554.059.363.167.372.278.685.794.0

100.0103.9107.7110.9113.9117.7101.7105.4109.0112.2112.4113.4114.7115.3116.3117.3118.2118.9119.4121.0122.4

Personal consumptionexpenditures

Total

16.412.113.914.115.216.818.419.420.222.024.325.725.626.227.828.429.029.129.530.131.031.632.332.933.333.934.435.035.636.737.639.341.042.944.946.749.654.859,262.666.771.678.286.694.6

100.0104.1108.1111.6114.3119.5101.8105.7109.3113.1113.4113.6114.7115.7117.3118.9120.2121.5122.2123.9125.2

Durablegoods

22.916.818.719.220.922.023.325.427.733.036.137.136.938.140.040.140.839.440.141.242.942.844.244.444.845.746.347.047.147.548.350.151.452.754.755.556.660.465.969.572.776.982.189.295.7

100.0102.1103.8104.8105.6107.9100.7103.1104.1104.7105.0105.0106.1106.2106.7107.5108.6108.9109.1109.6110.4

Non-durablegoods

17.812.214.214.315.518.220.621.622.224.026.928,527.727.830.130.530.430.430.230.631.532.232.633.133.533.834.334.735.336.637.539.040.942.744.245.849.757.261.563.867.171.980.089.496.9

100.0102.1105.0107.5107.3112.1101.0103.1105.8108.7107.8106.4107.2107.8109,8111.9112.9113.7113.8116.0117.3

Services

13.811.412.812.913.514.315.116.016.517.318.619.720.521.122.223.324.625.325.926.727.628.529.330.230.731.432.032.533.234.235.336.838.640.743.145.147.451.355.659.864.869.875.683.992.6

100.0106.2111.6116.8122.4128.5102.7108.3113.5119.0120.1121.6123.2124.6126.1127.6129.1131.0132.2134.0135.6

Gross private domestic investment »

Fixed investment

Total

11.69.4

11.111.512.413.213.814.214.516.719.821.722.222.924.625.025.525.626.327.829.028.929.329.729.729.930.130.431.132.433.434.837.239.041.243.245.650.356.960.765.671.978.986.394.2

100.099.8

100.2100.6103.5105.2100.399.7

100.5101.0101.6103.2104.4105.0105.1105.3105.1105.4105.3105.1105.3

Nonresidential

Total

11.89.8

11.511.912.713.313.814.014.316.419.321.021.722.424.224.425.125.225.827.729.529.530.230.630.530.931.331.532.133.334.435.937.939.942.444.446.050.557.961.966.171.577.885.193.4

100.098.897.997.7

100.2100.4100.798.397.997.998.299.8

101.2101.6101.1100.899.999.899.699.599.7

Struc-tures

10.07.68.89.09.7

10.711.411.612.314.517.118.918.618.821.121.321.821.421.824.125.224.825.025.225,025.225.525.926.928.229.130.432.935.238.140.643.749.554.757.661.667.976.283.693.1

100.097.598.2

102.5107.1111.199.596.899.6

104.0104.1107.5108.5108.7109.6111.2111.7111.8113.0113.8114.3

Pro-ducers'

dur-able

equip-ment

14.312.513.914.214.915.315.415.615.418.220.722.524.025.026.426.927.728.629.331.033.334.034.735.635.936.136.236.236.437.238.439.941.543.245.546.847.351.159.764.468.373.378.686.093.7

100.099.597.795.397.296.2

101.599.197.095.095.496.698.298.797.696.895.395.194.894.694.8

Residen-tial

11.28.1

10.510.911.912.813.814.915.817.521.122.823.023.725.426.126.326.427.027.928.028.028.028.228.228.328.228.529.029.930.932.535.637.039.041.244.849.854.258.064.672.681.489.496.6

100.0102.2106.0108.3111.1116.299.1

103.1107.2109.0109.8110.6111.4112.4113.4115.2117.7118.7119.5119.5119.6



TABLE B-3.—Implicit price deflators for gross national product, 1929-88—Continued

[Index numbers, 1982=100, except as noted; quarterly data seasonally adjusted]

Year or quarter

1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967 .196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983- IV1984: IV1985: IV1986- 1

11I I IIV

1987- 1||I I IIV

1988: 1IIIl l

Exportimports (

and ser

Exports

16.810.712.713.614.617.218.520.221.122.024.626.525.224.427.427.427.026.927.528.629.729.629.930.430.931.031.1

' 31.432.533.734.535.236.638.740.441.747.156.362.164.868.072.881.690.297.5

100.0101.3103.2101.0100.0100.0100.0102.6102.4100.5100.6100.599.699.3

100.1100.199.9

100.1100.3102.1104.3

s and

vices l

Imports

15.98.6

11.311.612.313.113,614.114.617.420.922.421.222.526.725.324.124.123.523.823.822.723.123.423.122.923.624.124.725.726.226.627.429.030.232.035.550.454.155.759.865.877.196.0

101.6100.097.497.195.293.699.099.397.296.295.995.992.791.794.297.599.498.9

100.0100.8101.4101.3

Government purchases of goods and services

Total

9.48.49.49.5

10.612.412.512.311.812.314.716.317.316.818.319.419.820.120.821.922.924.124.624.925.426.326.927.628.529.831.233.135.138.141.043.847.152.257.761.565.870.476.885.593.4

100.0104.0108.6112.3114.6118.5101.8105.3110.3113.8114.3114.5115.0114.5116.9118.6119.1119.5121.7122.7123.5

Federal

Total

8.18.09.79.7

11.112.812.812.411.812.014.816.317.616.318.019.319.619.720.621.522.524.224.624.725.025.926.527.228.129.430.532.333.838.839.843.046.251.357.160.865.269.275.484.393.3

100.0103.1106.8109.0109.8112.7101.3103.8108.5110.6110.5110.5110.7107.7111.6113.7112.9112.6115.2115.3114.9

Nationaldefense

41.845.350.655.659.363.467.874.283.492.9

100.0103.6107.2109.2110.4111.5102.0104.7108.3111.3110.6110.5110.5109.9111.8111.3111.3111.6112.8113.4114.8

Non-defense

46.848.953.360.664.369.172.478.086.494.3

100.0101.4105.5108.2108.2117.099.5

100.3108.9108.8110.1110.4111.5101.5110.9122.9119.0116.0125.5122.7115.2

Stateandlocal

9.78.69.29.39.7

10.210.611.211.612.814.516.316.917.318.919.720.220.721.222.423.524.024.625.225.926.727.428.028.830.232.033.936.339.241.944.447.852.858.162.066.171.177.786.293.4

100.0104.7109.9114.9118.2123.0102.2106.3111.7116.5117.2117.6118.3119.7121.0122.3123.9124.9126.5128.1129.6

Finalsafes

14.611.312.813.013.714.715.215.315.719.322.123.423.523.924.925.425.926.327.128.029.029.730.430.931.231.932.432.933.734.935.937.739.842.044.446.549.554.159.263.067.272.178.585.893.9

100.0103.9107.7110.9114.0117.7101.7105.3109.0112.2112.6113.6114.8115.0

/ 116.2117.3118.2119.1119.8121.0122.4

Grossdomestic

pur-chases 2

14.611.112.712.913.714.615.015.215.619.121.823.423.323.925.025.425.826.227.027.828.729.330.030.530.831.431.932.533.334.435.437.039.041.243.445.548.453.458.662.266.471.578.186.394.4

100.0103.4106.9109.9112.6116.9101.6104.7108.0111.2111.4111.9113.0114.0115.4116.6117.4118.3119.0120.5121.6

Percentchange

frompreced-

ingperiod,

GNPimplicit

pricedefla-tor3

'-2.28

2.06.26.62.61.42.9

22.913.97.0-.52.04.81.51.61.63.23.43.62.12.41.61.02.21.61.52.73.62.65.05.65.55.74.76.59.19.86.46.77.38.99.09.76.43.93.73.02.73.33.64.73.03.3

.73.64.72.13.53.53.12.41.75.54.7

1 Separate deflators are not calculated for gross private domestic investment, change in business inventories, and net exports ofgoods and services.2 GNP less exports of goods and services plus imports of goods and services.3 Quarterly changes are at annual rates.

Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-4.—Fixed-weighted price indexes for gross national product, 1982 weights, 1959-88

[Index numbers, 1982=100, except as noted; quarterly data seasonally adjusted]

Year or quarter

19591960196119621963196419651966196719681969197019711972197319741975..1976197719781979198019811982198319841985198619871982: IV1983: IV1984: IV1985: IV1986:1

II .I l lIV..

1987: 1 '.HIIIIV

1988: 1III I I .


37.638.138.438.739.139.640.141.142.143.745.647.248.850.353.157.261.865.168.472.778.886.194.1

100.0104.1108.3111.9115.0119.1101.7105.7109.6113.2113.8114.5115.4116.2117.4118.6119.7120.8121.8123.3124.9

Personalcon-

sumptionexpendi-

tures

35.235.736.136.436.837.237.738.539.541.042.844.746.648.351.055.860.163.567.572.278.686.894.6

100.0104.2108.4112.2115.3120.4101.8105.8109.7113.8114.3114.5115.7116.6118.2119.912U122.5123.2124.9126.5

Gross private domesticinvestment1

Fixed investment

Total

58.058.158.058.058.058.258.559.360.261.463.261.560.659.861.864.469.071.472.674.580.386.994.5

100.0100.4101.5103.3105.8108.8100.2100.5102.3104.2104.7105.5106.1106.8107.6108,4109.3109.9110.8111.3111.6

Nonresi-dential

65.966.166.066.166.266.466.767.468.469.571.068.466.665.066.668.573.175.274.975.080.186.193.9

100.099.9

100.2101.9104.3106.8100.599.6

100.9102.8103.3104.1104.6105.3106.1106.5107.0107.5108.3109.0109.4

Residen-tial

30.230.330.229.929.529.630.030.831.633.136.037.439.541.645.150.154.658,464.872.581.289.496.6

100.0102.2106.0108.3110.9115.999.1

103.3107.2109.0109.7110.3111.2112.2113.2114.9117.4118.3119.2119.3119.4

Exports andimports of goods

and services1

Exports

32.833.534.034.134.434.835.937.138.239.340.943.345.346.550.859.865.467.470.374.582.990.597.7

100.0101.6104.3103.7103.9106.0100.0103.2104.0103.4104.0103.9103.7103.9104.7105.5106.4107.0108.7110.5113.0

Imports

27.027.327.026.727.127.728.129.129.530.131.233.435.637.842.454.559.761.366.171.380.996.3

101.5100.097.797.595.793.6

100.899.397.696.896.895.892.492.894.797.8

100.3101.9103.0103.9105.3105.4

Government purchases ofgoods ana services

Total

25.826.427.027.828.529.330.031.332.734.536.639.642.345.248.853.558.662.266.070.977.386.394.1

100.0104.5109.2113.2115.6119.6102.0106.0110.7114.4114.9115,2115.5116.6118.0119.1120.1121.2122.9124.3125.7

Federal

Total

26.927.327.828.429.330.130.832.032.834.536.439.542.446.050.154.859.462.465.870.676.886.494.9

100.0104.1108.0110.4110.8113.5101.7105.4109.0111.0110.9110.8110.5110.8112.5113.3113.7114.4116.3117.2118.5

Nationaldefense

44.347.451.456.559.763.568.675.184.793.8

100.0103.7107.6110.5111.3114.0101.8104.7109.0111.4111.3111.1111.1111.7113.2113.9114.2114.8116.6117.4118.0

Non-defense

50.556.963.366.669.071.575.581.090.697.4

100.0105.1108.9110.0109.4112.1101.4107.0109.1110.1110.0109.9108.9108.7110.6111.7112.5113.6115.7116.9119.7

Stateandlocal

24925.726.427.327.928.529.330.632.534.436.739.642.244.647.852.657.962.066.271.277.786.293.5

100.0104.8110.1115.3119.1124.1102.2106.4111.9117.0117.8118.4119.3120.8122.0123.3124.9126.1127.8129.5131.0

Percentchange

frompreceding

period,GNP

fixed-weighted

priceindex2

1.4.7.8

1.01.21.42.52.63.74.43.63.52.95.57.88.05.35.16.28.59.39.36.24.14.03.42.83.64.04.03.23.32.22,43.02.84.24.23.73.83.55.05.3

1 Separate price indexes are not calculated for gross private domestic investment, change in business inventories, and net exports ofgoods and services.

2 Quarterly changes are at annual rates.



TABLE B-5.—Changes in gross national product, personal consumption expenditures, and related price

measures, 1933-88

[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]

Year or quarter

193319391940194119421943...,19441945.19461947.19481949195019511952...195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979 ..198019811982198319841985....198619871982: IV1983 IV1984- IV1985- IV1986:1

||IllIV

1987:1||HIIV

1988:1III l l

Gross national product

Currentdollars

-4.27.0

10.025.026.621.29.7

.9-.510.811.2

10.715.75.55.7

9^05.55.31.38.53.93.67.65.6

'7,18.59.55.89.38.05.48.6

10.012.18.38.5

11.511.713.011.58.9

11.73.77.6

10.86.45.66.84.2

12.44.76.27.22.65.93.48.48.77.78.65.48.77.3

Con-stant

(1982)dollars

-2.17.97.8

17.718.818.18.2

-1.9-19.0-2.8

3.9.0

8.510.33.94.0

-1.35.62.11.7

-.85.82.22.65.34.15.35.85.82.94.12.4

~2A5.05.2

-lis4.94.75.32.5

119-2.5

3.66.83.42.83.4.6

7.31.73.06.4-.81.01.44.65.04.56.13.43.02.5

Implicitprice

deflator

-2.2-.82.06,26.62.61.42.9

22.913.97.0-.52.04.81.51.61.63.23.43.62.12.41.61.02.21.61.52.73.62.65.05.65.55.74.76.59.19.86.46.77.38.99.09.76.43.93.73.02.73.33.64.73.03.3.7

3.64.72.13.53.53.12.41.75.54.7

Chainpriceindex

1.51.01.21.31.51.83.02.84.35.05.24.84.25.98.99.25.96.17.28.79.09.46.34.13.93.32.53.44.13.93.13.21.72.03.12.44.03.73.63.43.04.84.7

Fixed-weight-ed price

index{1982

weights)

1.4.7.8

1.01.21.42.52.63.74.43.63.52.95.57.88.05.35.16.28.59.39.36.24.14.03.42.83.64.04.03.23.32.22.43.02.84.24.23.73.83.55.05.3


Currentdollars

-5.74.66.0

13.89.7

12.28.8

10.520.412.58.01.97.78.35.36.23.17.54.95.43.37.44.63.16.15.57.27.78.35.59.78.27.08.19.5

10.59.5

10.511.511.311.611.610.610.57.19.08.88.26.87.3

10.39.77.26.05.84.9

10.64.86.5

10.09.12.46.98.88.6

Con-stant

(1982)dollars

-1.65.14.65.7

~233.26.4

10.51.82.32.05.42.13.04.02.56.23.02.21.45.02.62.04.33.75.65.65.13.05.13.62.43.15.44.2-.92.35.44.44.12.2-.21.21.34.64.84.74.32.75.35.54.31.94.84.36.31.2.6

4.34.6

-2.14.53.03.9

Implicitprice

deflator

-4.2

137.7

10.49.65.43.989

10.65.6-.12.26.12.22.1

.61.31.93.21.82.21.91.21.81.51.71.73.12.54.54.34.64.74.06.2

10.58.05.76.57.39.2

10.79.25.74.13.83.22.44.54.44.33.04.01.1.7

3.93.55.65.64.44.42.35.74.3

Chainpriceindex

:: :; :: "

•" •" "

1.71.11.11.41.21.52.72.54.04.44.74.33.66.0

10.38.05.76.47.29.2

10.99.25.74.23.93.52.74.54.84.13.14.21.4.8

4.33.55.55.74.34.42.55.64.6

Fixed-weight-ed price

index(1982

weights)

1.5.9.9

1.11.21.22.22.53.84.34.64.23.55.79.47.75.66.37.08.8

10.59.05.64.24.03.52.74.54.8

. 4.13.24.31.5

4^23.55.65.74.24.62.45.74.9



TABLE B-6.—Cross national product by major type of product, 1929-88

[Billions of dollars; quarterly data at seasonally adjusted annual rates]

Year orquarter

192919331939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959 "!

1960196119621963196419651966196719681969

197019711972 "197319741975 '.".1976. ..197719781979

19801981198219831984198519861987

1982: IV1983: IV1984: IV1985: IV

1986:1||litIV

1987:111IllIV

1988:1IIIll


103.956.091.3

100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4

288.3333.4351.6371.6372.5405.9428.2451.0456.8495.8

515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9

1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.2

2,732.03,052.63,166.03,405.73,772.24,014.94,240.34,526.7

3,212.53,545.83,851.84,107.9

4,180.44,207.64,268.44,304.6

4,391.84,484.24,568.04,662.8

4,724.54,823.84,909.0

Finalsales

102.257.690.9

98.3121.0157.2193.4212,3214.4206.0235.7256.9263.4

281.4323.2348.6371.1374.1400.2423.6449.6458.3490.0

512.3531.4568.5601.1644.4695.2757.8806,1884.8954.1

1,012.31,094.91,202.31,339.71,457.41,604.11,766.81,969.22,221.02,495.2

2,740.33,028.63,190.53,412.83,704.54,003.64,224.74,487.5

3,272.43,514.83,806.84,100.7

4,136.54,188.14,267.74,306.6

4,354.14,451.54,553.54,590.7

4,659.24,780.14,859.3

Inven-tory

change

1.716.4

2.24.51.86

-1.0106.4

l;?-3,1

6.810.23.1.4

-1.65,74.61.4

-1.55.8

3.12.46.15.85.49.9

14.210.37.99.8

3.17.8

10.519.615.4-5.616.021.328.613.0

-8.324.0

-24.5-7.167.711.315.539.2

-59.931.045.07.2

44.019.5

.7-2.0

37.732.714.572.0

65.343.749.7

Goods

Total

Total

56.127.049.0

56.072.593.7120.4132.3128.9125.3139.8154.4147J

162.4189.9195.5204.6198.0216.3225.4234.7230.5250.8

257.2260.4281.5293.2313.5342.9380.1395.1427.4456.6

467.8493.0537.4616.4663.1714.7798.9882.0991.4

1,099.1

1,174.91,322.91,319.11,396.11,581.41,641.21,697.91,792.5

1,309.81,473.71,599.91,657.4

1,690.51,688.31,707.81,705.0

1,733.41,774.51,812.91,849.3

1,879.51,928.01,960.1

Finalsales

54.428.648.6

53.868.091.9

121.0133.3129.9118.9140.3149.7150.8

155.6179.6192.4204.2199.6210.6220.7233.3232.0245.1

254.1258.0275.4287.4308.1333.0365.9384.9419.5446.8

464.7485.2526.9596.8647.7720.3782.9860.7962.8

1,086.1

1,183.21,298.91,343.71,403.21,513.71,629.91,682.31,753.3

1,369.71,442.71,554.91,650.2

1,646.51,668.91,707.11,706.9

1,695.71,741.81,798.41,777.3

1,814.21,884.31,910.4

Inven-tory

change

1.716.4

2.24.51.86

-1.0-1.06.4

7.7-3.1

6.810.23.1.4

-1.65.74,61.4

-1.55.8

3.12.46.15.85.49.9

14.210.37.99.8

3.17.8

10.519.615.4-5.616.021.328.613.0

8324.0

-24.5-7.167.711.315.539.2

-59.931.045.07.2

44.019.5

-2.Q

37.732.714.572.0

65.343.749.7

Durable goods

Finalsales

16.15.4

12.4

15.423.834.554.258.550.131.844.448.050.0

56.266.472.678.074.181.786.291.784.891.1

93.893.1103.4110.0119.6132.4147.9154.5169.1180.1

182.1189.4209.7241.9257.2288.2323.6369.4416.9473.1

499.4541.1542.9575.3641.3700.1721.1749.7

551.8611.9667.6697.9

691.1709.1748.2735.8

708.4742.8789.3758.2

792.7831.6836.4

Inven-tory

change

1.4-.5

.3

1.23.11.0.0

-.6-1.35.31.41.0

-1.8

3.66.11.21.5

-2.53.42.1

-2i83.1

1.6-.13.42.74.06.710.25.54.76.4

-.12.87.2

15.011.2-7.010.39.7

20.110.3

-2.9.6.8

-16.8-1.040.26.54.326.6

-42.716.733.08.6

25.14.9

-8.1-4.9

28.824.32.9

50.5

26.617.845.1

Nondurable goods

Finalsales

38.323.236.2

38.444.257.466.874.879.887.195.9

101.7100.9

99.4113.2119.8126.2125.5128.9134.5141.6147.2154.0

160.3164.8172.0177.4188.5200.6218.1230.4250.4266.7

282.6295.8317.2354.9390.4432.2459.3491.3545.9613.0

683.8757.8800.8827.9872.4929.8961.3

1,003.6

817.9830.9887.3952.3

955.4959.7958.9971.1

987.3999.1

1,009.11,019.1

1,021.51,052.71,074.0

Inven-tory

change

0.3-1.1

1.01.4

~!e~'.21.1

-1.93.7

-1.3

3.24.21.9

-1.1.92.32.5.91.32.6

1.42.52.73.11.43.24.04.83.23.4

3.24.93.34.64.31.35.7

11.68.62.7

-5.417.2-7.7-6.127.54.9

11.312.6

-17.214.312.0-1.4

18.914.68.82.9

8.98.4

11.621.6

38.625.94.6

Services

35.925.934.5

35.840.950.963.272.477.370.572.778.083.0

89.0104.4115.2123.4128.5138.5148.9161.6170.9183.5

197.4210.9226.4242.2261.1280.5307.2334.9368.0402.3

441.1484.9533.2586.6650.6725.2803.5895.9

1,003.01,121.9

1,265.01,415.41,547.51,682.51,813.91,968.32,118.42,295.7

1,598.91,730.11,866.52,035.7

2,068.02,097.52,136.22,171.7

2,228.42,276.22,314.42,363.9

2,405.22,451.52,501.6

Struc-tures

11.93.17.8

8.612.114.49.26.67.2

16.622.829.229.6

36.939.140.943.646.051.153.954.855.561.5

60.762.566.771.575.281.784.686.497.2

105.1

106.5124.8142.1156.3159.1158.5180.4212.6255.3287.1

292.0314.4299.4327.1377.0405.4424.0438.4

303.9342.0385.4414.8

421.9421.7424.4428.0

430.0433.4440.6449.5

439.9444.3447.3

Autooutput

7.28.8

11.9

15.413.312.016.114.721.216.919.414.519.4

21.317.822.425.125.931.130.227.835.034.7

28.538.941.446.038.840.355.264.368.366.9

60.169.466.588.6

105.1116.5120.6116.3

64.5102.1111.5115.5

115.4119.4124.2123.5

116.2113.1115.3120.6

113.1130.3132.0



TABLE B-7.—Gross national product by major type of product in 1982 dollars, 1929-88

[Billions of 1982 dollars; quarterly data at seasonally adjusted annual rates]

Year orquarter

192919331939

1940194119421943194419451946194719481949

195019511952 . .1953195419551956195719581959

1960196119621963196419651966196719681969

19701971 .1972 "1973197419751976197719781979

19801981198219831984. ...198519861987

1982: IV1983: IV1984: IV1985: IV

1986- 1III l lIV

1987:1III l lIV

1988:1IIIll


709.6498.5716.6

772.9909.4

1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.0

1,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.1

1,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.3

2,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.4

3,187.13,248.83,166.03,279.13,501.43,618.73,721.73,847.0

3,159.33,365.13,535.23,662.4

3,719.33,711.63,721.33,734.7

3,776.73,823.03,865.33,923.0

3,956.13,985.24,009.4

Finalsales

698.7509.2712.7

758.5881.6

1,068.31,275.51,385.71,363.31,069.01,067.71,096.41,118.7

1,179.51,297.41,370.01,432.51,421.01,478.61,512.71,548.11,542.61,612.6

1,657.51,701.41,783.31,856.71,957.62,062.42,171.52,242.62,344.62,398.1

2,407.92,465.22,586.82,704.12,696.02,707.82,804.62,929.53,078.43,177.4

3,194.03,225.03,190.53,285.53,439.13,609.63,706.33,812.6

3,218.63,338.13,493.53,654.7

3,673.63,688.03,718.33,745.2

3,746.93,795.23,852.23,855.9

3,890.13,949.93,969.9

Inven-tory

change

10.8-10.7

3.9

14.427.812.0

.7-5.2

8427.910

12.397

24.230.810.02.8

-4.816.312.93.034

16.5

7.77.3

16.216.615.725.236.928.821.025.1

8.219.621.840.033.3

-12.822.129.136.815.0

-6.923.9

-24.5-6.462.39.1

15.434.4

-59.327.041.7

7.7

45.723.63.0

-10.5

29.827.813.067.1

66.035.339.5

Goods

Total

Total

308.1210.0331.7

370.3431.9504.1608.6664.6639.1521.0517.1531.7517.9

561.4623.0641.3676.6643.5683.9697.1699.3674.2716.6

726.8730.2773.5797.5845.2904.0974.7993.1

1,024.81,048.5

1,030.01,037.61,093.81,175.01,159.21,125.01,194.71,256.21,329.11,354.6

1,344.21,386.01,319.11,367.01,509.21,553.61,599.01,663.3

1,297.91,423.81,520.21,564.7

1,604.71,598.01,595.31,597.8

1,616.21,645.61,677.51,713.9

1,748.11,762.41,768.9

Finalsates

297.3220.7327.8

355.9404.2492.1607.9669.8647.5493.1518.1519.4527.6

537.2592.2631.3673.8648.2667.6684.1696.3677.6700.1

719.1723.0757.3780.8829.5878.8937.8964.3

1,003.71,023.3

1,021.71,017.91,072.11,135.01,125.91,137.81,172.51,227.11,292.41,339.6

1,351.11,362.21,343.71,373.41,446.91,544.51,583.51,628.9

1,357.11,396.81,478.51,557.0

1,559.11,574.41,592.31,608.3

1,586.41,617.81,664.51,646.8

1,682.21,727.11,729.4

Inven-tory

change

10.8-10.7

3.9

14.427.812.0

.7= 5.2

8427.91 0

12.397

24.230.810.02.8

-4.816.312.93.0

-3.416.5

7.77.3

16.216.615.725.236.928.821.025.1

8.219.621.840.033.3

-12.822.129.136.815.0

-6.923.9

-24.564

62.39.1

15.434.4

-59.327.041.7

7.7

45.723.63.0

-10.5

29.827.813.067.1

66.035.339.5

Durable goods

Finalsales

85.834.974.8

91.9122.9163.3254.4292.4263.1129.6164.7166.5166.8

180.0208.8229.8245.4230.6245.2248.3251.3229.1236.8

242.2239.2260.2273.4295.4322.2354.2363:6378.5389.7

381.7375.5409.4474.9476.0471.1490.9534.0572.5604.6

584.0578.5542.9566.3623.5686.1710.7750.7

543.8598.0647.8687.7

683.9700.7733.5724.8

702.3742.3790.8767.2

809.0845.8844.6

Inven-tory

change

7.5-4.5

1.6

7.217.47.51.4

-3.8-7.823.12.83.4

-6.1

11.419.13.64.7

-7.79.56.31.9

-7.18.2

4.0-.18.47.1

11.217.426.314.411.815.2

~M15.430.820.0

-11.415.914.227.513.3

-3.26.9

-16.8-1.238.25.63.8

23.9

-42.416.131.17.3

23.24.1

-7.5-4.5

25.721.52.9

45.5

23.515.940.4

Nondurable goods

Finalsales

211.5185.7253.1

264.0281.2328.8353.5377.4384.4363.5353.4353.0360.8

357.1383.4401.5428.4417.7422.3435.8445.0448.6463.4

476.9483.7497.1507.4534.1556.5583.6600.7625.3633.6

640.1642.4662.7660.1649.9666.7681.7693.1719.9735.1

767.1783.7800.8807.0823.3858.4872.8878.2

813.4798.8830.7869.4

875.1873.7858.8883.6

884.1875.5873.7879.6

873.2881.3884.9

Inven-tory

change

3.3-6.2

2.3

7.210.34.5

-1.4-.64.8

-3.88.8

-3.6

12.811.76.4

-2.02.96.86.71.13.78.3

3.77.37.79.54.57.8

io:e14.49.39.9

8.812.56.49.2

13.3-1.4

6.314.99.31.7

-3.716.9

-7.7-5.224.23.5

11.610.5

-16.910.910.6

.4

22.519.510.5

-6.0

4.16.3

10.121.6

42.419.4-.9

Services

290.0252.1306.4

318.1367.1460.4598.9665.0662.3472.0431.0438.1450.1

470.4537.7567.3577.6579.5601.0619.7645.4654.7681.5

709.9743.0777.0811.5852.8891.6942.7990.6

1,032.01,066.9

1,092.41,126.11,169.41,218.71,256.41,286.41,324.41,368.71,426.91,478.6

1,511.11,533.41,547.51,585.51,625.21,684.31,738.11,801.1

1,555.51,600.71,644.71,712.5

1,724.81,730.71,743.61,753.2

1,778.21,797.21,806.61,822.3

1,833.41,846.11,862.8

Struc-tures

111.436.578.5

84.5110.3115.868.750.953.5

104.0118.6138.9141.0

171.9167.5171.4181.2193.2210.0208.9206.5210.3231.0

228.5235.4248.9264.4275.3292.0291.0287.6308.8307.9

293.8321.2345.4350.4313.7283.6307.6333.7359U359.2

331.8329.4299.4

•326.6367.1380.8384.7382.6

305.9340.6370.3385.2

389.7383.0382.4383.7

382.4380.2381.1386.7

374.6376.7377.7

Autooutput

24.127.635.5

44.938.334.944.843.358.245.848.337.445.7

49.641.149.854.655.366.964.858.370.567.6

53.169.873.982.065.461.880.188.787.380.2

67.173.366.585.998.5

106.5106.2100.6

63.396.4

104.2104.8

104.2106.0107.3107.3

102.098.499.2

102.9

96.0111.2111.5



TABLE B-8.—Gross national product by sector, 1929-88


Year or quarter

192919331939

194019411942194319441945194619471948 ;1949195019511952195319541955195619571958...195919601961196219631964..196519661967196819691970197119721973197419751976'19771978197919801981

198319841985198619871982: IV1983: I V . . .1984: IV1985: IV1986- 1

IIIl lIV

1987: 1IIIllIV

1988: 1II . . .Ill


103.956.091.3

100.4125.5159.0192.7211.4213.4212.4235.2261.6260.4

288.3333.4351.6371.6372.5405.9428.2451.0456.8495.8

515.3533.8574.6606.9649.8705.1772.0816.4892.7963.9

1,015.51,102.71,212.81,359.31,472.81,598.41,782.81,990.52,249.72,508.22,732.03,052.63,166.03,405.73,772.24,014.94,240.34,526.73,212.53,545.83,851.84,107.94,180.44,207.64,268.44,304.64,391.84,484.24,568.04,662.84,724.54,823.84,909.0

Gross domestic product

Total

103.255.790.9

100.1125.0158.5192.3210.9

. 213.0211.6234.1260.1259.0

286.7331.4349.4369.5370.3403.3425.2447.7453.9492.7

511.8530.0570.1602.0644.4699.3766.3810.4885.9957.1

1,008.21,093.41,201.61,343.11,453.31,580.91,761.71,965.12,219.12,464.42,684.43,000.53,114.83,355.93,724.83,974.14,205.44,497.23,163.83,494.63,805.94,065.94,139.64,175.24,232.54,274.14,359.94,455.94,541.24,631.84,702.14,802.54,882.2

Business '

Total1

96.049.381.089.8

113.0140.4163.4174.9173.5184.8211.3236.4232.9259.0296.7310.7329.3329.1359.4378.1397.3399.5435.5

449.9463.9499.1526.0562.1610.7666.7699.7762.0820.1856.3927.4

1,020.01,145.01,237.51,341.21,500.71.682.11,908.42,125.32,306.82,582.82,658.22,866.63,201.53,412.83,608.93,855.52,693.62,994.83,270.63,490.73,556.53,583.73,632.33,662.83,735.63,819.93,893.83,972.94,028.14,117.54,185.2

Nonfarm1

84.843.673.082.0

103.4128.0149.8156.9153.5165.2189.3214.4213.3238.3271.1286.7306.3306.7338.8361.4380.1378.9417.9432.5445.0478.6506.2544.3590.0641.7677.8740.4798.8831.2897.5988.8

1,098.31,190.01,288.41,448.71,631.71,850.02,054.52,236.42,498.92,581.32,802.13,118.53,342.23,547.13,787.82,607.72,932.73,198.73,422.43,495.23,518.03,570.33,604.93,670.03,743.23,832.23,905.83,965.44,048.04,123.7

Farm

9.74.66.36.48.9

13.015.315.316.018.820.223.318.820.022.922.220.319.718.818.618.420.719.020.220.220.420.519.321.922.822.222.725.226.328.132.851.049.250.348.550.460.371.865.579.877.059.377.675.475.475.979.059.674.076.273.475.375.777.374.179.276.873.477.774.675.6

Statis-tical

discrep-ancy

1.51.21.71.4

-~L72.74.0

L8-1.3

.8

.82.71.82.62.71.8

-1.9-1.2.-.1-1.5-2.8-1.2

.0-.6

-1.4-1.2

2.1= .4

-1.1-3.9-1.1

1.8-1.6-4.3-1.7

2.53.6

.0-1.9-1.0

4.94.1

l!25.4

-4.8-13.6-8.1

6.82.5

-2.1-7.9

-12.0-9.5

-13.6-19.4-8.5-2.5

-15.1-6.4

-15.0-5.1

-14.0

House-holdsand

insti-tutions

2.91.72.32.42.52.93.23.74.14.55.15.65.96.56.97.27.88.19.19.9

10.611.512.413.914.515.616.717.919.321.323.426.129.532.435.639.043.047.252.057.162.470.278.689.3

101.0112.7122.9132.7142.3153.1168.9116.9126.6136.1146.6149.0151.5154.4157.5161.5166.3171.7176.4180.9185.6191.2

Government2

Total

4.44.77.67.89.5

15.225.632.335.322.417.618.120.121.227.731.532.433.034.837.239.842.944.848.151.655.459.364.469.378.487.497.8

107.5119.5130.3142.6155.0168.7187.7203.8220.5240.5260.4

288.3316.7343.9366.4390.6419.0443.4472.7353.4373.1399.1428.6434.1440.0445.7453.8462.8469.8475.7482.5493.1499.4505.8

Federal

0.91.23.53.55.1

10.721.027.330.016.210.39.6

10.711.116.619.319.118.319.019.620.221.321.722.623.625.226.528.530.034.337.841.944.948.451.154.957.161.166.570.975.581.786.996.1

107.4117.0124.7132.1140.2143.5151.0120.7126.0134.0142.4142.6143.2143.6144.5149.2150.8151.3152.7156.7157.4158.1

Stateandlocal

3.53.54.24.34.44.54.74.95.46.27.38.59.4

10.111.212.313.314.715.817.619.621.623.125.527.930.232.935.939.344.149.555.962.671.179.387.797.9

107.6121.1132.9145.0158.9173.5192.2209.3226.9241.7258.5278.8299.9321.7232.6247.2265.1286.2291.4296.8302.1309.3313.7319.0324.4329.9336.4342.1347.8

Restof theworld

0.8

A.4

!5

',5A.7

1.21.51.41.52.02.22.12.22.63.03.42.93.13.53.84.54.95.45.85.66.06.86.87.39.3

11.216.219.517.521.125.430.543.847.652.151.249.947.440.734.929.548.751.346.042.040.832.335.930.531.928.226.831.022.421.326.8

1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-9.—Gross national product by sector in 1982 dollars, 1929-88


Year or quarter

19291933193919401941;19421943194419451946194719481949 .195019511952195319541955 . . .19561957195819591960igei ;196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982- IV1983; IV1984: IV1985: IV1986- 1

III l lIV

1987: 111Il lIV

1988- 1

I I I


709.6498.5716.6772.9909.4

1,080.31,276.21,380.61,354.81,096.91,066.71,108.71,109.01,203.71,328.21,380.01,435.31,416.21,494.91,525.61,551.11,539.21,629.11,665.31,708.71,799.41,873.31,973.32,087.62,208.32,271.42,365.62,423.32,416.22,484.82,608.52,744.12,729.32,695.02,826.72,958.63,115.23,192.43,187.13,248.83,166.03,279.13,501.43,618.73,721.73,847.03,159.33,365.13,535.23,662.43,719.33,711.63,721.33,734.73,776.73,823.03,865.33,923.03,956.13,985.24,009.4


Total

704.6496.1713.5770.3906.0

1,077.11,273.41,377.71,352.61,093.31,061.61,102.51,103.41,197.41,320.31,371.71,427.41,407.81,485.51,515.01,539.71,529.71,619.11,654.11,696.61,785.61,858.51,957.12,070.62,192.52,255.02,347.92,406.22,399.12,464.12,584.92,711.82,693.52,665.72,793.72,921.23,073.03,136.63,131.73,193.63,114.83,231.23,457.53,581.93,690.93,821.43,111.33,316.63,493.13,624.73,682.83,682.93,689.83,708.03,748.93,798.43,842.03,896.33,936.63,967.03,987.0

Business '

Total1

611.6404.9586.8635.5738.7832.9891.6934.3914.3866.3886.1925.4916.7

1,002.81,080.51,114.71,170.01,154.61,229.71,254.11,274.01,260.41,345.81,369.71,403.21,480.91,546.71,635.21,737.41,837.11,880.91,961.12,009.82,004.42,068.02,186.62,309.12,283.92,249.62,374.82,497.22,639.22,696.42,683.22,739.82,658.22,770.12,990.13,103.33,202.03,322.52,654.12,853.23,022.23,141.73,197.73,195.13,199.83,215.33,254.43,300.93,341.23,393.63,430.53,458.93,475.1

Nonfarm l

547.8338.7518.3571.2675.8774.4841.6862.5839.3809.0828.6875.1858.5941.4

1,014.91,050.91,101.31,084.21,161.51,199.61,219.01,199.71,291.61,317.21,346.71,421.11,488.71,581.61,681.81,776.51,824.21,908.31,962.11,946.42,001.42,128.02,256.62,226.52,180.62,306.62,434.92,581.02,633.22,613.12,659.62,581.32,703.72,916.63,028.13,130.43,247.12,567.12,795.32,953.03,066.23,125.53,120.73,128.23,147.03,177.73,221.13,272.23,317.23,360.93,393.13,421.5

Farm

54.156.656.454.658.162.459.257.253.754.049.955.255.058.356.057.259.360.962.060.758.861.258.861.160.259.859.857.759.054.757.755.757.260.762.362.061.160.764.862.562.261.064.664.275.777.061.368.579.483.782.580.355.671.182.583.082.983.685.384.182.082.081.882.370.165.2

Statis-tical

discrep-ancy

9.79.6

12.19.74.8

-4.0-9.214.621.33.37.6

-4.93.23.19.76.59.49.56.2

-6.2-3.8

-~4!6-8.7-3.7

-i!s-4.1-3.4

5.9-1.0-2.8-9.5

-2.74.2

-3.4-8.6-3.3

4.25.6.1

-2.8-1.4

5.94.4-.15.05.0

-4.3-12.1

-7.0

6.72.3

-1.9-7.1

-10.8-8.5

-12.0-17.0

-7.4-2.2

-13.0-5.4

-12.8-4.3

-11.6

House-holdsand

insti-tutions

34.427.133.335.835.836.934.334.334.435.437.941.242.445.046.146.247.748.453.256.157.760.762.767.468.070.772.574.677.480.483.185.688.287.088.891.293.493.996.497.098.0

• 101.0103.7107.3109.9112.7114.9117.6121.3125.5129.0113.8115.8119.0123.2124.2125.7125.9126.4127.0128.1130.0130.7133.3134.4136.8

Government2

Total

58.664.093.499.0

131.5207.4347.6409.1403.8191.6137.7135.8144.2149.6193.7210.7209.7204.8202.6204.8208.0208.6210.6217.1225.4233.9239.2247.3255.8275.0291.0301.2308.2307.7307.4307.1309.3315.7319.6321.9326.0332.8336.5341.2343.9343.9346.3349.8357.4363.3369.9343.5347.5351.9359.9360.9362.1364.0366.2367.5369.4370.8372.0372.8373.7375.2

Federal

13.216.238.944.176.2

152.9294.6357.5350.7135.076.773.277.180.3

122.8137.5133.2125.0119.2116.1114.5109.5107.5108.9111.5116.7116.1116.8117.3128.1138.5140.7141.0133.2125.5118.3113.6113.5112.8112.7112.7113.9113.0114.4115.8117.0119.0120.5122.3122.5123.5117.6119.4121.2122.5122.4122.3122.4122.9123.0123.4123.7123.9123.9123.8124.2

Stateandlocal

45.347.954.655.055.354.452.951.753.256.661.062.667.169.371.073.376.579.883.488.793.599.2

103.1108.2113.9117.3123.1130.5138.5146.9152.4160.5167.2174.5181.9188.8195.7202.1206.8209.2213.3219.0223.5226.8228.1226.9227.3229.3235.0240.8246.4225.9228.1230.7237.4238.5239.8241.7243.4244.5246.1247.1248.1249.0249.9251.0

Restof theworld

4.92.43.12.63.43.12.72.92.33.65.16.25.66.27.98.37.98.49.4

10.711.59.5

10.011.112.113.914.916.117.015.916.317.717.017.120.723.732.235.929.333.037.442.155.755.555.251.247.943.936.930.925.648.048.542.137.636.528.731.526.827.824.623.326.719.518.322.4

1 Includes compensation of employees in government enterprises.2 Compensation of government employees.Source: Department of Commerce, Bureau of Economic Analysis.

319


TABLE B-10.—Gross national product by industry, 1947-87

[Billions of dollars]

Year

194719481949

19501951195219531954

1955 .1956195719581959

19601961196219631964

1965 .1966...196719681969

197019711972... .19731974

19751976 ..197719781979

19801981198219831984

198519861987 ....


235.2261.6260.4

288.3333.4351.6371.6372.5

405.9428.2451.0456.8495.8

515.3533.8574.6606.9649.8

705.1772.0816.4892.7963.9

1,015.51,102.71,212.81,359.31,472.8

1,598.41,782.81,990.52,249.72,508.2

2,732.03,052.63,166.03,405.73,772.2

4,014.94,240.34,526.7


Agri-culture,forestry,

andfisheries

20.824.019.5

20.823.923.221.420.8

20.019.819.622.120.4

21.721.822.322.321.4

24.225.324.925.728.6

29.932.237.456.255.0

56.355.758.970.183.1

77.292.089.674.392.9

92.092.694.9

Mining

6.89.48.1

9.310.210.210.711.0

12.513.613.712.612.5

12.812.913.113.413.8

14.014.615.216.217.1

18.718.820.223.436.9

41.346.050.256.572.7

107.3143.7132.1118.4119.4

114.282.185.4

Con-struc-tion

9.111.511.5

13.215.616.917.517.7

19.121.322.221.823.7

24.325.327.128.931.6

34.737.939.743.548.7

51.456.563.070.474.5

76.586.297.9

115.6131.4

137.7138.4140.9149.6171.5

186.6204.0218.5

Manufacturing

Total

66.274.772.2

84.099.0

103.3112.5106.7

121.3127.2131.8124.3141.8

144.4145.0158.6168.1180.2

198.4217.4222.9243.6257.1

252.3265.7292.5326.4338.5

357.3409.3465.3518.8561.8

581.0643.1634.6683.2771.9

789.5820.1853.6

Dura-ble

goods

33.538.237.1

45.955.559.066.161.0

70.873.978.070.081.6

82.581.691.998.0

105.7

118.4130.8133.7146.1154.2

145.9153.8172.6195.4201.7

206.3239.7277.7317.4345.2

351.8385.8362.5385.6451.1

458.8466.1480.0

Non-durablegoods

32.736.635.0

38.143.444.346.445.7

50.453.353.954.360.3

61.963.366.870.174.5

80.086.689.297.5

102.9

106.3111.9119.9131.0136.7

151.0169.7187.7201.4216.5

229.2257.3272.1297.6320.8

330.8354.1373.6

Trans-portation

andpublic

utilities

21.023.723.9

26.630.232.234.233.8

36.839.641.741.945.1

47.348.951.954.858.3

62.667.470.776.482.6

88.497.1

108.0118.7129.1

141.7160.4178.9201.0216.1

240.8269.6288.4320.0354.4

374.1393.5408.2

Whole-saleand

retailtrade

44.248.448.0

51.556.859.060.461.6

67.071.375.076.483.3

85.788.094.198.2

107.1

115.0124.1132.9146.8159.2

168.7183.7202.6225.6246.0

273.7299.7332.8373.5415.8

438.8483.1506.5542.9614.0

658.2698.4740.4

Fi-nance,insur-ance,andreal

estate

23.826.929.2

32.235.539.143.347.0

50.754.358.563.168.2

72.876.981.786.592.0

98.9106.9115.6125.1136.3

145.8161.4174.8190.5206.7

221.7246.1280.3326.3363.3

400.6449.3475.1536.4572.8

639.5708.6775.4

Serv-ices

20.221.922.6

24.226.428.130.231.6

35.138.741.744.048.3

51.454.959.263.369.0

74.682.590.699.1

110.5

120.2130.2144.6163.2179.4

199.8224.9253.4289.1328.7

374.0422.6463.6515.5580.2

648.1716.3793.5

Govern-mentand

govern-mententer-prises

20.220.823.2

24.231.235.736.837.4

39.041.244.547.850.8

54.257.662.167.072.5

78.288.198.4

110.5121.0

134.0145.9160.1173.1189.0

210.1229.7247.4270.3292.4

322.1354.7383.9410.5442.5

476.7503.4535.3

Sta-tis-ticaldis-

crep-ancy

1.8-1.3

.8

.82.71.82.62.7

1.8-1.9-1.2

=-l:s=2.8= 1.2

.0= .6

= 1.4

= 1.22.1

-.4-1.1-3.9

= 1.11.8

= 1.6=4.3= 1.7

2.53.6

.0= 1.9= 1.0

4.94.1

1.25.4

=4.8= 13.6-8.1

Restof theworld

1.21.51.4

1.52.02.22.12.2

2.63.03.42.93.1

3.53.84.54.95.4

5.85.66.06.86.8

7.39.3

11.216.219.5

17.521.125.430.543.8

47.652.151.249.947.4

40.734.929.5

Note.—The industry classification is on an establishment basis and is based on the 1972 Standard Industrial Classification.



TABLE B-ll.—Gross national product by industry in 1982 dollars, 1947-87

(Billions of 1982 dollars]

Year

194719481949

19501951195219531954

19551956195719581959

196019611962 ".".19631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987


1,066.71,108.71,109.0

1,203.71,328.21,380.01,435.31,416.2

1,494.91,525.6

,1,551.11^539.241,629.1

1,665.31,708.71,799.41,873.31,973.3

2,087.62,208.32,271.42,365.62,423.3

2,416.2" 2,484.8

2,608.52,744.12,729.3

2,695.02,826.72,958.63,115.23,192.4

3,187.13,248.83,166.03,279.13,501.4

3,618.73,721.73,847.0


culture,forest-ry, andfisher-

ies

55.661.361.0

64.362.664.266.368.2

69.167.865.968.365.8

68.367.567.167.265.2

66.762.465.563.665.3

68.870.670.970.369.7

73.171.571.671.876.1

76.288.089.674.582.2

93.897.296.1

Mining

67.672.465.7

72.880.881.584.383.3

92.096.596.289.194.1

94.295.698.1

102.2105.7

109.4115.0120.2124.7128.9

134.5132.4134.4133.4130.3

125.6124.4126.2128.8130.0

135.6139.8132.1125.4133.0

130.1115.7117.5

Con-struc-tion

76.790.089.4

100.0110.9115.9119.9124.8

133.3142.7142.4147.5160.4

163.1165.1172.5177.5185.9

193.7194.4190.7190.2183.6

168.0162.7166.7170.4162.3

149.4158.1165.1176.7173.5

161.6147.4140.9147.3159.2

165.4173.1175.8

Manufacturing

Total

226.1238.5226.3

257.7288.4298.2319.9296.6

327.7330.6332.5303.5338.0

338.7339.4368.3397.4425.4

462.5497.9496.6522.0536.7

506.8515.5561.2621.3591.6

547.5600.6645.0683.4697.1

665.4676.1634.6675.5757.9

786.8804.6839.5

Dura-ble

goods

138.1145.0133.2

156.7181.4190.6208.4185.8

208.5207.3208.7180.1203.0

202.4199.9220.5238.9259.3

286.9312.3311.9326.2334.1

304.8305.5336.5377.0363.5

325.2357.4386.2415.9423.5

401.5404.9362.5390.4466.8

493.7505.0525.2

Non-durablegoods

88.093.593.1

101.0107.0107.6111.5110.8

119.2123.3123.8123.4135.0

136.3139.5147.8158.5166.2

175.6185.6184.7195.8202.6

202.0210.0224.8244.3228.1

222.2243.2258.9267.5273.5

263.9271.2272.1285.1291.1

293.0299.7314.3

Trans-por-

tationand

publicutil-ities

100.098.790.7

95.3104.9104.5106.7104.1

112.3117.7119.9116.1123.5

127.8130.0136.3143.8150.4

161.5174.2178.1189.5200.3

203.9209.8223.8243.0248.8

246.4257.1268.5284.8293.4

293.4296.2288.4300.8320.4

326.0331.6349.5

Whole-saleand

retailtrade

157.8161.9166.1

182.1183.7189.5195.6197.1

215.0221.5225.1225.0240.7

245.4247.8263.9273.9290.7

309.8326.5335.4354.8361.7

367.6385.7414.8437.0426.2

433.1454.4479.2502.3511.7

500.4507.3506.5529.1578.9

610.3642.9660.0

Fi-nance,insur-ance,andreal

estate

103.0107.7112.2

119.7126.4134.7142.2149.5

160.2168.8178.3184.5195.9

206.5215.0226.5235.9245.8

259.8271.1282.4296.0314.0

320.7335.9350.9367.7381.6

387.6403.1417.7442.5459.2

464.3474.2475.1489.0506.6

524.3537.6559.4

Serv-ices

124.7128.9129.0

133.8136.9139.4142.7145.9

153.0161.1168.6174.3183.5

190.2197.7207.7217.4230.7

240.4253.9265.2274.7287.8

295.7302.4320.0340.2347.5

352.4367.7388.4411.9429.8

442.6462.5463.6486.6514.0

546.4578.9610.8

Govern-mentand


156.2155.5164.0

169.2214.0231.9230.9225.4

223.4225.6229.2230.1232.8

240.3249.2258.4264.5274.0

284.3305.5322.3332.6340.2

339.6340.0340.5343.4350.6

355.0357.7362.9371.5376.2

382.7385.3383.9387.4392.1

400.8407.9415.7

Sta-tis-ticaldis-

crep-ancy

7.6-4.9

3.2

3.19.76.59.49.5

6.2-6.2-3.8-.546

-8.7-3.7

.1-1.8-4.1

-3.45.9

-1.0-2.8-9.5

-2.74.2

-3.4-8.6-3.3

4.25.6.1

-2.8-1.4

5.94.4-.15.05.0

-4.3-12.1-7.0

Resid-ua l 1

-13.6-7.5-4.2

-.62.05.39.43.5

-6.6-11.1-14.7-8.1

-11.0

-11.6-6.9

-13.3-19.7-12.6

-14.0-14.5

~2.&-2.7

-3.94.85.1

-6.2-11.8

-8.7-6.6-3.4

2.1-9.0

3.512.5

.010.68.1

2.313.54.2

Restof theworld

5.16.25.6

6.27.98.37.98.4

9.410.711.59.5

10.0

11.112.113.914.916.1

17.015.916.317.717.0

17.120.723.732.235.9

29.333.037.442.155.7

55.555.251.247.943.9

36.930.925.6

1 Equals GNP in constant dollars measured as the sum of incomes less GNP in constant dollars measured as the sum of gross productby industry.

Note.—The industry classification is on an establishment basis and is based on the 1972 Standard Industrial Classification.Source: Department of Commerce, Bureau of Economic Analysis.

321


TABLE B-12.—Gross domestic product of nonfinancial corporate business, 1929-88


Year orquarter

19291933193919401941194219431944194519461947194819491950 .19511952 ,1953195419551956195719581959196019611962196319641965196619671968196919701971 .197219731974197519761977.. .197819791980.19811982198319841985198619871982: IV1983: IV1984: IV1985: IV1986:1

III I IIV

1987: 1III l lIV

1988- 1III l l

Grossdomes-

ticproduct

ofnon-

financialcorpo-ratebusi-ness

50.424.644.050.665.983.399.1

102.695.899.8

121.2138.9135.2153.6176.3184.0196.6193.5218.5233.6244.1238.0267.1277.6285.2311.1331.1357.7392.7430.2452.6499.7542.2560.4605.1671.8753.0812.8881.5995.5

1,126.11,274.11,417.41,540.81,738.41,782.21,914.22,146.72,267.12,371.62,513.51,779.42,012.52,201.82,309.42,344.92,348.82,383.62,409.32,438.82,482.72,546.92,585.62,633.22,684.02,732.1

Capitalcon-

sump-tion

allow-anceswith

capitalcon-

sump-tion

adjust-ment

5.34.24.85.05.46.06.16.26.37.49.0

10.511.212.113.914.915.916.817.920.122.123.224.325.326.027.028.229.631.634.537.841.745.750.255.160.565.676.892.5

103.0115.1130.8150.7172.5200.2223.0229.8240.1252.6264.1276.2229.7232.2245.0257.4259.7262.8265.3268.7271.1274.5278.0281.3286.8290.0293.0

Net domestic product

Total

45.120.439.145.660.577.393.096.489.592.4

112.2128.4123.9141.5162.4169.1180.7176.7200.7213.5221.9214.8242.8252.4259.1284.2303.0328.0361.1395.7414.8458.0496.6510.2550.0611.3687.4736.0789.0892.5

1,010.91,143.31,266.71,368.21,538.11,559.31,684.41,906.62,014.52,107.52,237.31,549.71,780.31,956.72,051.92,085.22,086.02,118.32,140.72,167.72,208.32,268.82,304.32,346.42,394.02,439.1

Indi-rectbusi-nesstax,etc.1

3.43.85.15.56.46.87.38.18.9

10.111.913.213.915.316.518.019.218.620.622.423.724.126.228.529.832.234.236.839.440.743.349.954.959.064.769.476.581.588.395.4

104.4114.1122.1138.5165.9166.9182.9204.2218.4227.7239.8169.7189.6210.6221.5227.8221.5231.2230.4232.7238.4243.6244.5249.2253.0258.8

Domestic income

Total

41.816.534.140.254.170.585.788.380.682.3

100.3115.2110.1126.2146.0151.1161.5158.1180.0191.1198.2190.7216.7223.9229.4252.0268.7291.2321.7355.0371.5408.1441.6451.2485.3541.9610.8654.5700.7797.1906.5

1,029.21,144.71,229.71,372.31,392.41,501.51,702.51,796.11,879.81,997.51,379.91,590.71,746.11,830.41,857.41,864.41,887.11,910.31,935.01,969.82,025.32,059.72,097.22,141.12,180.3

Com-pensa-tion ofemploy-

ees

32.316.728.231.239.851.062.265.161.967.279.187.785.294.7

110.2118.2128.6126.4138.4151.3159.0155.8171.5181.2185.3200.1211.1226.7246.5274.0292.3323.2358.8378.7402.0447.1505.9556.8580.4656.3741.0847.4962.0

1,051.11,160.51,203.91,266.11,399.81,489.81,564.91,661.41,206.51,319.71,436.81,524.01,543.21,551.71,569.61,595.31,617.21,640.51,673.31,714.71,739.61,777.81,816.4

Corporate profits with inventory valuation and capitalconsumption adjustments

Total

8.0-1.9

4.47.6

13.018.222.422.217.714.420.426.623.930.634.731.731.530.140.038.137.032.242.139.240.147.352.859.369.173.770.574.869.655.465.275.782.469.491.6

113.3134.9146.0139.1123.1144.2111.9165.6222.4225.3230.6237.5100.1199.5222.1226.3232.2229.5232.4228.1227.7233.3250.4238.4250.6252.6248.2

Profits

Profitsbefore

tax

8.4.6

6.18.8

16.420.123.622.217.822.029.131.824.938.539.133.834.932.142.041.839.833.743.139.739.544.248.955.465.270.366.573.169.657.065.676.896.9

107.2109.2138.3160.5182.1195.8181.8181.5129.7159.3196.0170.2172.6210.2116.3183.2181.9174.2155.9167.2176.2191.0196.6207.9224.6211.6228.4240.5240.4

Profitstax

liability

1.2.5

1.42.77.5

11.213.812.610.28.6

10.811.89.3

16.921.217.818.515.620.220.119.116.220.719.219.520.622.824.027.229.527.833.633.327.229.933.840.242.241.553.059.967.169.667.063.946.359.473.569.976.899.041.070.666.471.669.073.778.286.291.697.2

105.3101.7104.4109.4109.1

Profits after tax

Total

7.3.1

4.76.19.08.99.89.67.6

13.418.320.015.621.617.916.016.416.421.821.820.717.522.420.520.123.526.231.438.040.838.639.536.229.835.643.056.765.067.785.4

100.6115.0126.2114.8117.683.499.9

122.5100.495.8

111.275.4

112.7115.5102.687.093.598.1

104.8105.0110.6119.3109.9124.1131.1131.3

Divi-dends

5.12.03.33.53.93.73.94.14.14.85.56.06.07.57.17.17.37.48.59.09.39.3

10.010.610.611.412.613.715.616.817.519.119.118.518.520.121.121.724.827.832.037.239.345.553.459.766.569.572.274.883.862.268.868.672.372.276.674.076.479.880.783.990.874.686.298.7

Undis-tributedprofits

2.2-1.9

1.42.65.05.25.85.63.58.6

12.814.09.6

14.110.88.89.19.0

13.412.711.48.2

12.49.99.5

12.213.517.722.424.021.220.417.111.317.122.935.643.342.957.668.677.886.969.364.223.733.453.028.221.127.413.243.946.930.314.816.924.128.425.229.935.419.149.544.932.7

Inven-toryvalu-ation

adjust-merit

0.5-2.1-.7= .2

= 2.5= 1.2=.8

-'.6-5.3-5.9-2.2

1.9-5.0-1.2

1.0= 1.0

-L7-2.7= 1.5

= 13-.2

!o.1

-~L2-2.1= 1.6=3.7-5.9-6.6-4.6-6.6

=20.0-39.5-11.0= 14.9-16.6-25.3-43.2=43.1=24.2-10.4= 10.9-5.8-1.7

8.3-18.0= 13.4-8.1= 1.6=6.621.011.88.7

= 8.1-14.4=20.0= 19.5-18.2-19.4=27.4=29.3

Capitalcon-

sump-tion

adjust-ment

-0.9

-~i!o-1.0-1.0

-'.A

'.5-2.3-2.8-3.0-2.9-2.9-3.2-3.0=2.4= 1.6

-~U= 1.2-1.2= .8=.2

113.94.45.25.55.55.35.95.04.25.55.61.7

^6.6= 10.2-9.0

-10.9= 13.5-15.5= 13.1-7.517.132.156.749.645.3

=2.824.441.858.755.350.647.545.245.545.545.345.041.539.537.1

Netinter-est

1.41.71.51.41.31.31.11.01.0.7.8.9

1.0.9

1.11.21.31.61.61.82.22.73.13.54.04.54.85.36.17.48.8

10.113.217.118.119.222.528.328.727.530.635.943.555.567.576.669.880.381.184.398.673.471.587.280.182.083.285.186.990.196.0

101.6106.6107.1110.7115.7

1 Indirect business tax and nontax liability plus business transfer payments less subsidies.Source: Department of Commerce, Bureau of Economic Analysis.

322


TABLE B-13.—Ontput, costs, and profits of nonfinancial corporate business, 1948-88

[Quarterly data at seasonally adjusted annual rates]

Year orquarter

19481949

1950195119521953195419551956195719581959

196019611962.,1963..!196419651966196719681969

1970197119721973197419751976197719781979

19801981198219831984198519861987

1982- IV1983: IV1984- IV1985- IV

1986: 1||I I IIV

1987- 1I II l lIV

1988:1I II l l

Gross domesticproduct of

nonfmancia lcorporatebusiness

(bill ions ofdollars)

Currentdollars

138.9135.2

153.6176.3184.0196.6193.5218.5233.6244.1238.0267.1

277.6285.2311.1331.1357.7392.7430.2452.6499.7542.2

560.4605.1671.8753.0812.8881,5995.5

1,126.11,274.11,417.4

1,540.81,738.41,782.21,914.22,146.72,267.12,371.62,513.5

1,779.42,012.52,201.82,309.4

2,344.92,348.82,383.62,409.3

2,438.82,482.72,546.92,585.6

2,633.22,684,02,732.1

1982dollars

538.9515.7

570.4622.4637.3668.4650.8719.3747.0758.1725.2798.5

820.8839.1904.8964.4

1,029.01,111.71,189,51,217.01,286.51,339.6

1,325.21,360.61,461.11,569.71,533.41,488.11,583.51,686.61,789.81,840.4

1,807.91,837.21,782.21,886.02,036.52,117.42,177.22,270.4

1,760.21,940.52,069.52,137.7

2,172.32,163.22,174.22,199.0

2,215.02,248.02,296.12,322.5

2,363.52,380.92,395.5

Current-dollar cost and profit per unit of output (dollars) '

Totalcostand

profi t2

0.258.262

.269

.283

.289

.294

.297

.304

.313

.322

.328

.335

,338.340.344.343.348.353.362.372.388.405

.423

.445

.460

.480

.530

.592

.629

.668

.712

.770

.852

.9461.0001.0261.0541.0711.0891.107

1.0111.0371.0641.080

1.0791.0861.0961.096

1.1011.1041.1091.113

1.1141.1271.140

Capitalconsump-

tionallow-anceswith

capitalconsump-

tionadjust-ment

0.019.022

.021

.022

.023

.024

.026

.025

.027

.029

.032

.030

.031

.031

.030

.029

.029

.028

.029

.031

.032

.034

.038

.040

.041

.042

.050

.062

.065

.068

.073

.082

.095

.109

.125

.123

.118

.119

.121

.122

.131

.120

.118

.120

.120

.122

.122

.122

.122

.122

.121

.121

.121

.122

.122

Indi-rect

busi-nesstax,etc.3

0.025.027

.027

.026

.028

.029

.029

.029

.030

.031

.033

.033

.035

.035

.036

.035

.036

.035

.034

.036

.039

.041

.045

.048

.048

.049

.053

.059

.060

.062

.064

.066

.077

.090

.094

.098

.100

.103

.105

.106

.096

.098

.102

.104

.105

.102

.106

.105

.105

.106

.106

.105

.105

.106

.108

Com-pen-

sationof

employ-ees

0.163.165

.166

.177

.185

.192

.194

.192

.203

.210

.215

.215

.221

.221

.221

.219

.220

.222

.230

.240

.251

.268

.286

.295

.306

.322

.363

.390

.414

.439

.473

.523

.581

.632

.676

.679

.687

.704

.719

.732

.685

.680

.694

.713

.710

.717

.722

.725

.730

.730

.729

.738

.736

.747

.758

Corporate profits withinventory valuation and

capital consumptionadjustments

Total

0.049.046

.054

.056

.050

.047

.046

.056

.051

.049

.044

.053

.048

.048

.052

.055

.058

.062

.062

.058

.058

.052

.042

.048

.052

.053

.045

.062

.072

.080

.082

.076

.068

.078

.063

.089

.109

.106

.106

.105

.057

.103

.107

.106

.107

.106

.107;104

.103

.104

.109

.103

.106

.106

.104

Profitstax

liability

0.022.018

.030

.034

.028

.028

.024

.028

.027

.025

.022

.026

.023

.023

.023

.024

.023

.024.025.023.026.025

.021

.022

.023

.026

.028

.028

.033

.036

.037

.038

.037

.035

.026

.032

.036

.033, .035

.044

.023

.036

.032

.033

.032

.034

.036

.039

.041

.043

.046

.044

.044

.046

.046

Profitsaftertax4

0.027.028

.024

.022

.022

.020

.022

.028.024.024.022.027

.024

.025

.029

.031

.034

.038

.037

.035

.032

.027

.021

.026

.029

.027

.018

.034

.038

.044

.044

.038

.031

.044

.037

.057

.073

.073

.071

.061

.034

.066

.075

.072

.075

.072

.071

.065

.061

.061

.063

.059

.062

.060

.058

Netinterest

0.002.002

.002

.002

.002

.002

.002

.002

.002

.003

.004

.004

.004

.005

.005

.005

.005

.005

.006

.007

.008

.010

.013

.013

.013

.014

.018

.019

.017

.018

.020

.024

.031

.037

.043

.037

.039

.038

.039

.043

.042

.037

.042

.037

.038

.038

.039

.040

.041

.043

.044

.046

.045.047.048

Outputper hour

of allemploy-

ees(1982

dollars)

12.05312.506

12.67213.05813.55014.13514.65514.97915.20515.34415.71515.700

15.71316.15816.49016.83216.33116.69116.98617.25717.35817.221

17.09617.19417.31817.86518.28718.58418.92719.216

17.38318.02918.35918.639

18.90118.86418.92119.043

18.99619.14219.36219.357

19.56019.48119.428

Compen-sation

per hourof all

employ-ees

(dollars)

2.5892.685

2.7972.8842.9973.0933.2293.3213.5023.6853.9484.206

4.4904.7745.0455.4255.9306.5107.0407.5818.2199.002

9.93910.86111.69912.12212.56913.07513.60514.062

11.91412.26112.74613.288

13.42713.53213.66013.815

13.86913.96914.11014.291

14.39?14.54614.739

1 Output is measured by gross domestic product of nonfinancial corporate business in 1982 dollars.2 This is equal to the deflator for gross domestic product of nonfinancial corporate business with the decimal point shifted two

places to the left.3 Indirect business tax and nontax liability plus business transfer payments less subsidies.4 With inventory valuation and capital consumption adjustments.Sources: Department of Commerce (Bureau of Economic Analysis) and Department of Labor (Bureau of Labor Statistics).

323


TABLE B-14.—Personal consumption expenditures, 1940-88


Year orquarter

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

I960196119621963196419651966196719681969

197019711972 ...197319741975 ...1976197719781979

19801981198219831984

19871982: IV1983: IV1984: IV1985- IV

1986:1IIIllIV

1987:1III l lIV

1988:1||I I I

Personalcon-

sumptionexpendi-

tures

71.080.888.699.5

108.2119.6143.9161.9174.9178.3

192.1208.1219.1232.6239.8257.9270,6285.3294.6316.3

330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9

640.0691.6757.6837.2916.5

1,012.81,129.31,257.21,403.51,566.8

1,732.61,915.12,050.72,234.52,430.52,629.02,807.53,012.12,117.02,315.82,493.42,700.4

2,739.02,772.12,842.82,876.0

2,921.72,992.23,058.23,076.3

3,128,13,194.63,261.2

Durable goods

Total »

7.89.76.96.56.78.0

15.820.422.925.0

30.829.929.332.732.138.938.239.737.242.8

43.541.947.051.856.863.568.570.681.086.2

85.797.6

111.2124.7123.8135.4161.5184.5205.6219.0

219.3239.9252.7289.1335.5372.2406.5421.9263.8310.0346.7373.2

381.4393.0429.9421.8

403.5420.5441.4422.0

437.8449.8452.9

Motorvehi-clesand

parts

2.83.5

.7

.8

.81.04.16.68.0

10.6

13.712.211.313.913.017.815.817.314.818.9

19.717.821.524.426.029.930.330.036.138.4

35.944.951.556.750.355.872.785.495.196.9

90.3100.5108.9130.4157.4179.1196.4195.8115.7144.4162.3173.8

179.4187.7217.5201.0

181.7194.5212.9194.0

202.2208.7210.2

Furni-tureand

house-hold

equip-ment

3.84.84.63.93.84.58.4

10.611.511.3

13.714.114.014.714.816.417.317.216.918.1

18.018.319.320.723.225.128.230.032.934.7

35.737.842.447.951.554.560.267.173.982.1

86.292.795.7

107.1118.8129.9140.0148.399.1

112.4122,7134.7

135,9138.8142.0143.3

145.9147.8150.2149.4

154.7159.5159.5

Nondurable goods

Total »

37.042.950.858.664.371.982.790.996.694.9

98.2109.2114.7117.8119.7124.7130.8137.1141.7148.5

153.2157.4163.8169.4179.7191.9208.5216.9235.0252.2

270.3283.3305.1339.6380.9416.2452.0490.4541.8613.2

681.4740.6771.0816.7867.3911.2943.6997.9786.6837.9879.6932.7

938.4937.2944.7954.1

977.5995.3

1,006.61,012.4

1,016.21,036.61,060.8

Food

20.223.428.433.236.740.647.452.354.252.5

53.960.764.165.466.868.671.475.177.980.7

82.784.887.189.594.6

101.0109.0112.3121.6130.5

142.1147.5158.5176.1198.2218.7236.2255.9282.2317.3

349.1376.5398.8421.9448.5471.6501.0526.4407.0430.8456.1482.5

490.3498.0503.2512.6

521.0525.3528.4530.9

535.9546.3558.9

Cloth-ingand

shoes

7.58.8

11.013.414.616.518.218.820.119.3

19.621.322.022.222.323.324.424.524.926.4

27.027.629.029.832.434.137.439.243.246.5

47.851.756.462.566.070.876.684.194.8

102.2

109.0119.9124.4135.1146.7156.4167.0178.2126.5141.1149.8160.6

163.0167.0168.7169.4

174.5176.8180.4181.2

180.5183.2188.4

Gaso-lineandoil

2.32.62.11.31.41.83.44.04.85.3

5.56.16.87.47.88.69.4

10.210.611.3

12.012.012.613.013.614.816.017.118.620.5

21.923.224.428.136.139.743.046.951.366.1

83.792.789.190.290.090.673.377.089.891.989.091.0

86.371.768.966.3

72.177.479.379.3

76.378.880.5

Fueloil

andcoal

1.51.71.92.02.02.22.53.03.43.1

3.43.53.53.43.53.83.94.14.24.0

3.83.83.84.04.14.44.74.84.74.6

4.44.65.16.37.88.4

10.111.112.015.8

18.019.418.617.517.818.516.716.218.218.116.819.7

18.216.716.215.7

15.716.316.016.6

17.017.217.4

Services

Total '

26.228.331.034.337.239.745.450.655.558.4

63.269.075.182.188.094.3

101.6108.5115.7125.0

134.0141.8151.1160.6172.8185.4200.3216.0236.4259.4

284.0310.7341.3373.0411.9461.2515.9582.3656.1734.6

831.9934.7

1,027.01,128.71,227.61,345.61,457.31,592.31,066.51,167.91,267.11,394.5

1,419.21,441.91,468.21,500.1

1,540.71,576.41,610.21,641.9

1,674.11,708.21,747.5

Hous-i n g 2

9.710.411.211.812.312.814.216.017.919.6

21.724.327.029.932.334.436.739.342.045.0

48.251.254.758.061.465.469.574.179.786.8

94.0102.7112.1123.1135.1148.4163.5182.4205.2231.1

261.5295.6321.1344.1371.3403.0434.3467.7330.3353.8382.2416.2

422.6430.4438.1446.3

455.4462.6471.1481.8

490.1496.4506.0

Householdoperation

Total *

4.04.34.85.25.96.46.87.58.18.5

9.510.411.212.112.714.215.416.317.418.7

20.321.222.423.625.026.528.230.132.335.0

37.740.945.249.655.463.572.381.790.9

100.3

113.9127.5143.4156.0166.9175.3179.9186.3148.0161.4169.3179.0

177.1180.2181.5180.7

180.0187.3189.6188.2

190.9193.5199.7

Elec-tricity

andgas

1.51.51.61.71.81.92.12.32.62.9

3.33.74.14.55.05.56.16.57.17.6

8.38.89.49.9

10.410.911.512.213.014.0

15.216.618.420.023.528.532.537.642.146.8

56.463.572.880.084.888.987.488.874.884.186.390.2

86.888.187.986.7

84.990.690.888.8

90.290.994.6

Trans-porta-tion

2.12.42.73.43.74.05.05.35.85.9

6.26.87.38.08.28.58.99.49.7

10.5

11.211.712.212.713.414.515.917.318.920.9

23.727.129.831.233.335.741.349.253.559.0

64.568.369.774.882.089.895.8

106.271.177.684.592.1

94.094.596.298.6

102.1104.6105.8112.0

111.3116.4118.5

Medi-cal

care

2.22.42.72.93.33.64.65.66.36.5

6.97.48.39.3

10.210.811.712.814.015.3

16.417.519.421.024.125.928.331.135.740.9

46.151.857.864.472.484.295.9

111.5125.1141.4

164.2193.5217.8238.3265.3291.5320.1360.3226.9246.9275.3304.3

309.3314.9323.2333.0

344.0355.7367.3374.4

384.9396.6410.4

1 Includes other items not shown separately.z Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.

324


TABLE B-15.—Personal consumption expenditures in 1982 dollars, 1940-88


Year orquarter

1940. .. .1941 . .1942 .1943.. .1944. . . .1945. . .1946.. ..1947 . ..19481949. . . .

195019511952195319541955..1956195719581959

19601961196219631964196519661967. . .19681969..

1970197119721973197419751976197719781979

1980198119821983198419851986 .1987

1982: IV1983: IV1984: IV1985: IV

1986:1IIIllIV

1987:1IIIllIV

1988:1III l l

Personalcon-

sumptionexpendi-

tures

502.6531.1527.6539.9557.1592.7655.0666.6681.8695.4

733.2748.7771.4802.5822.7873.8899.8919.7932.9979.4

1,005.11,025.21,069.01,108.41,170.61,236.41,298.91,337.71,405.91,456.7

1,492.01,538.81,621.91,689.61,674.01,711.91,803.91,883.91,961.02,004.4

2,000.42,024.22,050.72,146.02,249.32,354.82,455.22,521.0

2,078.72,191.92,281.12,386.9

2,415.12,440.92,478.62,486.2

2,490.22,516.62,545.22,531.7

2,559.82,579.02,603.8

Durable goods

Total >

40.646.231.328.126.328.747.856.561.767.8

80.774.773.080.281.596.992.892.486.996.9

98.093.6

103.0111.8120.8134.6144.4146.2161.6167.8

162.5178.3200.4220.3204.9205.6232.3253.9267.4266.5

245.9250.8252.7283.1323.1355.1385.0390.9

262.0300.5333.1356.4

363.3374.2405.1397.3

378.3391.3406.5387.6

401.1410.6410.4

Motorvehi-clesand

parts

18.620.6

8.47.77.17.4

15.221.825.532.7

41.336.334.139.940.651.545.345.840.847.4

49.244.651.056.459.067.568.567.477.380.4

73.586.498.3

106.790.391.1

109.6121.2125.9119.4

103.8106.3108.9126.8148.0164.4176.4170.4

115.0138.1151.6158.9

163.1169.6194.3178.5

160.7169.9184.2166.7

173.5179.0178.7

Furni-tureand

house-hold

equip^ment

17.620.417.414.012.413.722.925.727.126.4

30.128.928.929.930.133.734.933.733.235.5

34.935.337.439.944.748.553.855.859.260.9

61.163.570.277.978.275.980.687.392.397.1

95.496.595.7

106.1118.4131.0143.2151.0

98.4111.1122.7136.6

138.2142.2145.4147.1

148.5151.0152.7151.9

157.3161.8161.0

Nondurable goods

Total *

259.4275.6279.1284.7297.9323.5344.2337.4338.7342.3

352.8362.9376.6388.2393.8413.2426.9434.7439.9455.8

463.3470.1484.2494.3517.5543.2569.3579.2602.4617.2

632.5640.3665.5683.2666.1676.5708.8731.4753.7766.6

762.6764.4771.0800.2825.9847.4879.5890.5

778.6812.7831.2858.3

870.4880.9881.4885.3

889.9889.8891.9890.5

892.7893.6904.5

Food

150.6158.3161.8166.3178.5193.0202.2193.9191.5193.6

196.6202.5209.8217.7222.0231.3238.8243.5243.5252.1

255.5259.7263.7266.5277.2290.4299.4304.0317.0324.3

334.5335.9344.2340.8336.6346.4363.6377.1379.6387.5

394.9392.5398.8414.0422.8435.5448.0450.4

404.6418.2426.2441.0

446.6450.3445.6449.5

452.9450.1449.4449.2

451.4453.2453.8

Cloth-ingand

shoes

36.338.940.343.041.743.444.742.542.743.0

44.343.745.846.246.248.649.749.349.952.3

52.753.756.056.961.564.068.368.871.773.0

72.075.380.386.084.988.192.297.4

107.1112.1

114.8122.2124.4132.6142.2147.2157.6160.5

126.2137.4143.5149.9

154.0158.8159.1158.6

160.7158.2162.9160.3

159.6156.3164.2

Gaso-lineandoil

17.219.214.59.29.5

12.522.724.125.727.9

29.031.534.136.037.140.342.844.446.548.9

50.751.053.254.757.460.263.966.070.675.2

79.983.687.091.787.289.893.496.4

100.997.1

88.487.889.193.294.594.497.398.3

89.794.494.794.5

96.796.098.498.1

97.399.697.898.4

98.899.899.5

Fueloil

andcoal

23.824.625.325.725.527.229.230.831.027.3

29.429.328.527.628.129.929.929.730.829.4

28.526.726.728.029.531.031.831.830.128.6

26.725.928.630.924.324.227.026.126.926.2

21.619.218.618.618.519.622.021.1

17.619.418.020.5

20.721.822.722.8

21.321.320.421.4

22.021.822.4

Services

Total 1

202.7209.3217.2227.2232.9240.5262.9272.6281.4285.3

299.8311.1321.9334.1347.4363.6380.1392.6406.1426.7

443.9461.4481.8502.3532.3558.5585.3612.3641.8671.7

697.0720.2756.0786.1803.1829.8862.8898.5939.8971.2

991.91,009.01,027.01,062.71,100.31,152.31,190.71,239.5

1,038.11,078.61,116.81,172.2

1,181.41,185.81,192.01,203.6

1,222.01,235.51,246.81,253.6

1,265.91,274.81,288.9

Hous-ing2

53.656.058.159.861.962.667.272.876.5•80.9

86.191.997.5

102.5107.1112.1117.1122.6127.7133.6

139.8145.7153.0159.4166.1174.4181.7189.3197.9207.6

216.1224.5235.5246.5258.6265.7273.2279.6292.8304.1

312.5318.9321.1325.4333.0341.7348.3358.3

322.1328.2335.8344.4

345.8346.9349.1351.3

355.0357.1359.3361.7

363.6365.6367.7

Householdoperation

Total l

32.432.033.431.231.532.435.137.639.040.1

43.846.247.048.950.555.559.361.263.365.7

68.770.974.477.080.583.987.791.995.199.3

102.2103.6108.6112.6112.8117.5122.3128.2134.0138.3

142.6142.0143.4146.2148.8151.6152.1157.0

143.1149.4148.9153.9

150.6152.1152.6153.2

157.7158.1159.2158.1

160.4161.1165.9

Elec-tricityandgas

7.17.37.98.28.69.2

10.311.712.813.7

15.617.619.020.422.424.226.428.029.531.2

32.934.637.138.840.842.744.947.449:752.4

54.455.858.5

'59.860.263.365.568.170.771.1

73.172.072.874.275.477.576.679.0

71.676.975.779.1

75.576.776.977.4

76.080.580.579.2

80.580.683.8

Trans-porta-tion

17.719.721.926.929.231.035.935.335.133.2

32.433.233.434.233.334.235.636.235.436.8

37.938.239.641.243.445.548.351.454.758.1

59.862.166.067.868.469.472.677.880.282.9

77.473.369.771.475.982.185.489.3

69.172.678.083.8

84.584.686.086.5

87.688.990.190.8

91.792.994.2

Medi-cal

care

21.622.423.724.125.926.531.133.836.737.8

40.142.044.246.649.551.053.956.860.564.0

66.569.174.379.188.091.495.298.3

105.2113.6

120.4128.2136.0145.4151.3159.9167.8177.8184.8192.2

200.6212.0217.8222.3232.0240.9251.5268.2

220.7224.6235.7245.2

247.7249.4252.3256.6

261.4266.6270.9274.0

276.9279.5283.4

1 Includes other items not shown separately.2 Includes imputed rental value of owner-occupied housing.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-16.—Gross and net private domestic investment, 1929-88


Year or quarter

19291933193919401941194219431944 ...19451946194719481949195019511952195319541955195619571958195919601961196219631964 ..1965196619671968196919701971.1972197319741975197619771978197919801981198219831984198519861987 .1982: IV1983: IV1984: IV1985: IV1986:1

||IIIIV

l$87:lIII l lIV

1988:1I I .I l l

Grossprivate

domesticinvest-ment

16.71.69.5

13.418.310.36.27.7

11.331.535.047.136.555.160.553.554.954.169.772.771.163.680.278.277.187.693.199.6

116.2128.6125.7137.0153.2148.8172.5202.0238.8240,8219.6277.7344.1416.8454.8437.0515.5447.3502.3664.8643.1665.9712.9409.6579.8661.8654.1686.6667.8653.0656.4685.5698.5702.8764.9763.4758.1772.5

Less:Capital

consump-tion

allow-anceswith

capitalconsump-

tionadjust-ment

9.97,69.09.4

10.311.311.612.012.414.217.620.422.023.627.229.230.932.534.438.141.142.844.646.447.849.451.453.957.462.167.473.981.488.897.5

107.9118.1137.5161.8179.2201.5229.9265.8303.8347.8383.2396.6415.5437.2455.9480.0393.2400.8423.5446.9447.8453.5457.9464.4468.7477.0484.6489.5498.3503.2507.7

Equals: Net private domestic investment

Total

6.7-6.1

.54.18.0

-1.0-5.3-4.2

1.117.317.526.714.531.533.324.424.021.635.334.629.920.835.531.829.438.241.845.758.866.558.363.171.860.074.994.1

120.7103.4

57.898.4

142.5186.9189.1133.1167.764.1

105.7249.4205.9210.0233.016.4

179.0238.3207.1238.8214.3195.1192.1216.8221.5218.2275.4265.1254.8264.8

Net fixed investment

Total

5.0-4.5

.11.93.52.7

-4.7-3.2-.110.917.922.017.624.623.121.323.623.329.629.928.522.329.828.727.032.135.940.348.952.348.055.262.056.967.283.6

101.187.963.482.4

121.3158.3176.1141.5143.788.7

112.8181.7194.5194.5193.776.3

148.0193.3199.9194.8194.8194.4194.0179.1188.8203.7203.3199.8211.1215.1

Presidential

Total

3.3-3.5

7.7

2.0-2.1-3.1-1.3

1.76.9

10.711.88.7

10.311.610.111.910.213.215.615.99.6

12.113.411.914.916.020.329.3'35.832.334.239.836.834.540.556.255.837.540.958.682.298.988.998.665.545.891.1

102.178.274.6

Struc-tures

1.8-1.7-1.1-.8

-~U-2.4-1.9-1.0

2.41.92.52.22.83.93.84.85.05.97.97.96.36.47.37.38.07.99.4

13.215.214.415.117.417.416.817.421.722.015.616.017.625.034.539.451.745.925,939.345.828.124.4


1.4-1.8

.41.52.3

=-.5

~'.52.84.58.79.36.57.57.76.47.15.27.37.78.13.25.76.14.66.98.1

10.916.120.718.019.022.419.417.723.134.433.721.924.841.057.264.549.546.919.619.951.856.350.050.2

Resi-dential

1.7-1.0

.81.21.5

-.6-1.6-1.9-1.8

4.07.3

10.28.9

14.411.511.211.713.016.414.412.612.717.715.415.117.219.920.019.616.515.721.022.220.132.743.145.032.225.941.662.676.177.252.645.023.267.090.692.4

116.3119.1

Change inbusiness

inven-tories

1.7-1.6

.42.24.51.8

= .6-1.0-1.0

6.4-.54.7

-3.16.8

10.23.1

-L65.74.61.4

-1.55.83.12.46.15.85.49.9

14.210.37.99.83.17.8

10.519.615.4

-5.616.021.328.613.0

-8.324.0

=24.5-7.167.711.315.539.2

-59.931,045.07.2

44.019.5

-2.037.732.714.572.065.343.749.7



TABLE B-17.—Gross and net private domestic investment in 1982 dollars, 1929-88


Year or quarter

19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959I9601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982 ..198319841985198619871982- IV1983- IV1984: IV1985- IV1986- 1

III I IIV

1987- 1HI I IIV

1988- 1||III

Grossprivate

domesticinvest-ment

139.222.786.0

111.8138.8

76.750.456.476.5

178.1177.9208.2168.8234.9235.2211.8216.6212.6259.8257.8243.4221.4270,3260,5259.1288.6307.1325.9367.0390.5374.4391.8410.3381.5419.3465.4520.8481.3383.3453.5521.3576.9575.2509.3545.5447.3504.0658.4637.0643.5674.8408.8577.2655.7648.0678.0652.1627.6616.5646.4660.1667.9724.7728.9715.1726.1

Less:

consump-tion

allow-anceswith

capitalconsump-

tionadjust-ment

86.886.584.484.986.386.985.784.885.488.091.896.8

101.7106.5111.8117.0122.1127.4132.6138.3143.5147.7151.9156.3160.6165.1170.3176.3183.7192.2201.1209.8219.8229.8239.5253.4263.6276.1287.0297.3

* 309.6323.7341.3356.1369.7383.2394.4407.2426.7443.2460.8390.0397.9413.5435.3436.7441.2445.4449.6453.8458.2463.0468.2472.9477.3481.9

Equals: Net private domestic investment

Total

52.4-63.8

1.626.952.5

-10.2-35.3-28.4-8.990.186.1

111.467.1

128.4123.394.894.485.2

127.2119.599.973.7

118.4104.1

98.4123.5136.8149.6183.4198.3173.4181.9190.5151.8179.8212.1257.1205.396.3

156.2211.7253.3234.0153.2175.864.1

109.6251.2210.3200.3214.018.8

179.3242.2212.7241.3210.9182.2166.9192.7201.9204.9256.5255.9237.8244.2

Net fixed investment

Total

41.6-53.0

2312.524.7221

-36.0-23.3

-.562.287.199.176.7

104.292.584.891.790.0

110.9106.596.977.1

101.996.491.2

107.3120.1133.9158.1161.4144.6160.9165.3143.6160.2190.3217.1172.0109.1134.1182.6216.5218.9160.1152.088.7

116.0188.9201.2184.9179.578.0

152.3200.5205.0195.6187.3179.2177.4162.9174.1191.8189.4190.0202.4204.7

Presidential

Total

26.2-40.2-10.1

1.512.0

-17.5-24.4-10.5

10.539.552.654.337.943.346.941.747.040.449.954.951.731.538.541.437.346.449.263.390.4

106.393.696.1

103.189.376.185.3

116.5106.960.861.885.2

111.6124.3101.3105.565.550.4

103.3116.180.577.7

Struc-tures

16.8-24.3-12.0= 8.5-3.5

-15.9-20.7-15.2-8.315.411.714.312.715.718.818.822.924.427.732.530.724.825.027.928.130.329.134.046.250.445.946.749.746.140.439.846.842.527.927.328.737.244.847.256.045.926.239.841.919.213.8


9.4-16.0

1.910.015.616

-3.84.7

18.824.140.940.025.227.628.122.924.116.022.222.420.9

6.613.613.69.3

16.020.129.244.255.847.749.353.443.335.745.569.864.432.934.656.574.379.554.149.419.624.163.574.261.364.0

Resi-dential

15.4-12.8

7.811.112.7

-4.6-11.5

128-11.0

22.734.544.838.960.945.643.244.749.660.951.645.245.663.455.053.861.070.970.667.755.150.964.862.254.284.1

105.0100.665.148.372.297.4

104.994.658.746.523.265.685.6

' 85.1104.4101.8

Change inbusiness

inven-tories

10.8-10.7

3.914.427.812.0

.752

-8.427.9

-1.012.3

-9.724.230.810.02.8

-4.816.312.93.03.4

16.57.77.3

16.216.615.725.236.928.821.025.1

8.219.621.840.033.312.822.129.136.815.0

-6.923.924.5

6.462.39.1

15.434.4

-59.327.041.7

7.745.723.63.0

-10.529.827.813.067.166.035.339.5



TABLE B-18.—Inventories and final sales of business, 1946-88

[Billions of dollars, except as noted; seasonally adjusted]

Quarter

Fourth quarter:19461947194819491950195119521953195419551956195719581959 .I9601961196219631964196519661967196819691970197119721973.197419751976197719781979198019811982.19831984...198519861987

1982: IV....1983- IV1984: IV..1985- IV1986:1

I IIII...IV

1987- 1||I I IIV

1988: 1IIIII...

Inventories1

Total2

71.080.385.677.596.7

109.4108.6109.6107.3114.6123.4127.0126.2131.7135.5137.2143.8149.6155.3169.1185.2197.4211.8232.4

240.3257.8285.6352.6423.3428.8463.3505.7588.2674.8739.3789.0771.5787.2858.2863.5863.1941.5771.5787.2858.2863.5858.9862.5861.7863.1881.4902.3914.1941.5965.2992.3

1,015.8

Farm

19.621.019.316.722.524.923.322,021.219.919.921.222.622.123.323.825.225.724.528.027.427.929.131.831.135.444.365.562.464.360.259.373.780.784.581.679.279.480.971.566.268.879.279.480.9

. 71.569.370.969.566.266.569.968.268.872.678.781.8

Nonfarm

Total2

51.459.366.360.874.284.585.387.686.194.7

103.5105.8103.7109.6112.2113.4118.6123.8130.9141.0157.8169.5182.6200.6209.2222.4241.3287.1360.9364.5403.1446.4514.5594.1654.8707.4692.2707.8777.3792.1796.9872.8692.2707.8777.3792.1789.6791.6792.2796.9815.0832.4845.9872.8892.6913.6934.0

Manu-facturing

24.629.032.228.634.943.144.046.043.948.354.054.352.755.256.257.260.362.265.970.780.987.594.0

103.4105.8107.3113.6136.1177.0177.8194.9210.6238.4281.1310.7330.2316.1315.9343.4333.5324.2346.2

316.1315.9343.4333.5326.4325.1323.7324.2327.1330.8337.8346.2353.4360.4366.0

Whole-sale

trade

10.411.112.512.514.715.615.615.816.117.618.919.219.321.021.321.822.423.925.226.930.332.734.637.941.745.250.059.475.676.286.196.2

113.8133.7154.8164.7162.2163.8177.5181.0185.0201.0162.2163.8177.5181.0181,0182.2184.7185.0189.0192.7194.0201.0209.3213.6219.5

Retailtrade

12.814.516.615.419.219.719.420.020.222.823.725.025.126.227.527.028.329.631.033.736.236.940.744.545.852.357.766.474.674.782.793.3

107.8117.0122.7134.0134.7148.2166.7180.9186.5213.7134.7148.2166.7180.9185.3186.2184.8186.5195.2203.5205.5213.7215.2221.5226.7

Other

3.24.14.53.94.95.55.65.25.35.46.26.66.67.27.27.47.58.08.89.8

10.412.413.314.916.017.619.925.233.735.839.446.354.562.366.778.579.279.989.696.6

101.3111.779.279.989.696.696.898.299.1

101.3103.7105.4108.5111.7114.7118.1121.8

Finalsales3

15.818.419.819.721.824.926.427.528.030.231.933.334.336.237.539.541.844.547.152.155.358.864.868.872.478.987.796.8

104.6117.1128.5143.9165.1183.2201.1217.8229.5247.0268.8290.3305.4325.1229.5247.0268.8290.3292.7297.0302.6305.4308.2315.6323.3325.1330.2339.5344.6

Inventory-finalsates ratio

Total

4.484.364.333.944.444.404.113.983.843.803.873.823.683.643.613.473.443.363.303.243.353.363.273.383.323.273.263.644.053.663.603.513.563.683.683.623.363.193.192.972.832.903.363.193.192.972.932.902.852.832.862.862.832.902.922.922.95

Non-f a rm 4

3.243.223.353.093.413.403.233.183.083.143.243.183.023.032.992.872.842.782.782.702.852.882.822.912.892.822.752.973.453.113.143.103.123.243.263.253.022.872.892.732,612.683.022.872.892.732.702.672.622.612.642.642.622.682.702.692.71

1 Inventories at end of quarter. Quarter-to-quarter change calculated from this table is not the current-dollar change in businessinventories (CBI) component of GNP. The former is the difference between two inventory stocks, each valued at their respective end-of-quarter prices. The latter is the change in the physical volume of inventories valued at average prices of the quarter. In addition,changes calculated from this table are at quarterly rates, whereas CBI is stated at annual rates.2 Beginning 1959, inventories of construction establishments are included in "other" nonfarm inventories. Prior to 1959, they areincluded in total and total nonfarm inventories, but not in the detailed categories shown.3 Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions,government, and rest of the world, and includes a small amount of final sales by farms.4 Ratio based on total business final sales, which includes a small amount of final sales by farms.

Note.—-The industry classification of inventories is on an establishment basis and is based on the 1972 Standard IndustrialClassification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.



TABLE B-19-—Inventories and final sales of business in 1982 dollars, 1947-88

[Billions of 1982 dollars, except as noted; seasonally adjusted]

Quarter

Fourth quarter:194719481949

1950195119521953195419551956195719581959

I960196119621963196419651966196719681969

1970197119721973197419751976197719781979 .

19801981198219831984198519861987

1982: IV ,1983: IV.1984: IV1985- IV

1986:1IIIllIV

1987- 1IIIllIV

1988:1III l l

Inventories l

Total 2

251.3263.5253.9

278.1308.9318.9321.6316.9333.2346.1349.1345.7362.2

370.0377.2393.4410.1425.8451.0487.9516.6537.7562.8

571.1590.7612.4652.5685.7673.0695.1724.2761.0776.0

769.1793.0768.4762.0824.2833.3848.8883.2

768.4762.0824.2833.3

844.8850.7851.4848.8

856.2863.2866.4883.2

899.7908.5918.4

Farm

43.345.444.4

47.751.554.654.355.956.053.754.957.358.1

59.460.863.565.864.066.366.167.768.269.0

69.873.475.981.481.382.679.177.277.882.4

77.882.681.274.979.475.272.670.2

81.274.979.475.2

75.876.175.672.6

71.171.870.570.2

73.775.074.8

Nonfarm

Total 2

208.0218.1209.5

230.4257.4264.3267.4260.9277.1292.4294.2288.4304.2

310.5316.5329.9344.2361.8384.7421.7449.0469.4493.8

501.2517.3536.6571.0604.5590.3616.1647.0683.2693.6

691.4710.3687.2687.2744.8758.2776.1813.0

687.2687.2744.8758.2

769.0774.5775.8776.1

785.1791.4796.0813.0

826.0833.5843.6

Manu-facturing

105.1108.6102.9

109.8133.2139.0142.7135.0142.5153.2152.1146,8153.5

154.7158.8167.2172.6180.9191.6213.6229.2239.0248.5

248.3246.1251.7267.9288.5281.9294.0301.9314.1324.7

326.8 .330.3315.2309.3330.0320.6317.1322.3

315.2309.3330.0320.6

320.3321.0318.5317.1

317.0316.0318.7322.3

326.3327.7329.1

Whole-sale

trade

39.942.742.8

47.649.050.050.451.154.856.656.056.060.7

61.863.165.068.972.676.585.190.793.598.9

105.8110.7114.0118.4128.4124.0131.2140.5151.6156.1

161.6165.0161.5157.9171.0174.3181.4187.2

161.5157.9171.0174.3

177.8179.1182.3181.4

183.0183.2182.4187.2

193.4193.1195.9

Retailtrade

39.643.742.8

49.549.649.650.851.257.157.859.859.461.9

65.264.267.570.373.479.284.384.290.596.4

96.6107.2114.0122.1121.1115.9122.3130.9139.1136.7

130.4135.5132.9142.4157.8169.1172.2191.3

132.9142.4157.8169.1

173.8173.8171.6172.2

178.5184.3185.1191.3

191.7195.1198.1

Other

23.523.121.1

23.425.625.823.523.622.724.826.326.328.1

28.830.330.132.434.937.438.745.046.550.0

50.553.256.962.666.468.668.573.778.476.1

72.779.577.677.586.094.1

105.4112.1

77.677.586.094.1

97.0100.7103.5105.4

106.7107.8109.8112.1

114.6117.5120.5

Finalsales3

74.877.177.3

82.690.493.998.097.7

102.5104.7105.9107.7111.4

114.1118.7123.4130.4136.3147.7150.2156.4163.7165.4

166.8172.6185.4188.9184.3191.5199.3209.0221.5225.6

225.3224.6226.1235.5248.4261.2268.8277.2

226.1235.5248.4261.2

262.7264.3266.4268.8

268.7272.8277.3277.2

280.4285.3286.3

Inventory-finalsales ratio

Total

3.363.423.28

3.373.423.403.283.243.253.313.303.213.25

3,243.183.193.143.123.053.253.303.283.40

3.423.423.303.453.723.513.493.473.443.44

3.413.533.403.243.323.19

i:il3.403.243.323.19

3.223.223.203.16

3.193.163.123.19

3.213.183.21

Non-fa rm 4

2.782.832.71

2.792.852.812.732.672.702.792.782.682.73

2.722.672.672.642.652.602.812.872.872.98

3.003.002.893.023.283.083.093.103.083.08

3.073.163.042.923.002.902.892.93

3.042.923.002.90

2.932.932,912.89

2.922.902.872.93

2.952.922.95

1 Inventories at end of quarter. Quarter-to-quarter changes calculated from this table are at quarterly rates, whereas the constant-dollar change in business inventories component of GNP is stated at annual rates.2 Beginning 1959, inventories of construction establishments are included in "other" nonfarm inventories. Prior to 1959, they areincluded in total and total nonfarm inventories, but not in the detailed categories shown.3 Quarterly totals at monthly rates. Business final sales equals final sales less gross product of households and institutions,government, and rest of world, and includes a small amount of final sales by farms.4 Ratio based on total business final sales, which includes a small amount of final sales by farms.

Note.—The industry classification of inventories is on an establishment basis and is based on the 1972 Standard IndustrialClassification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.


329


TABLE B-20.—Foreign transactions in the national income and product accounts, 1929-88


Yeauor quarter

192919331939

1940194119421943194419451946194719481949 .

1950195119521953195419551956195719581959

196019611962 . . .1963196419651966 .19671968 ...1969

1970197119721973197419751976197719781979

198019811982...19831984198519861987

1982: IV1983: IV1984- IV1985: IV

1986: II II l lIV

1987:1III l lIV

1988:1||I I I

Receipts from foreigners

Total

7.12.44.6

5.4615.04.65.57.4

15.220.317.516.4

14.519.819.218.118.821.125.228224.425.0

29.931 133.135.740.542.946.649.554.860.4

69.873.182.1

114.1149.5161.3177.7191.6227.5292.4

352.1383.9361.9352.5383.5370.9378.4428.0

335.9364.7385.7369.2

376.9373.9377.8385.2

395.3416.8440.4459.7

487.8507.1536.1

Exports of goods andservices

Total

7.12.44.6

5.4615.04.65.57.4

15.220.317.516.4

14.519.819.218.118.821.125.228224.425.0

29.931 133.135.740.542.946.649.554,860.4

68.972.481.4

114.1151.5161.3177.7191.6227.5291.2

351.0382.8361.9352.5383.5370.9378.4428.0

335.9364.7385.7369.2

376.9373.9377.8385.2

395.3416.8440.4459.7

487.8507.1536.1

Mer-chan-dise

5.31.73.3

4.14 53.42.93.65.4

11.816.113.312.2

10.214.213.412.412.914.417.619616.416.5

20.520921.723.326.727.830.732,235.338.3

44.545.651.773.9

101.0109.6117.5123.1144.7183.3

225.1238.3214.0206.1224.1220.8225.0254.8

196.3215.6228.0217.7

222.0222.0225.1231.1

232.5245.1264.8276.7

300.8316.9331.0

Serv-ices

1.7.7

1.3

1.3161,61.71.92.13.44.24.34.1

4.35.55.85.75.96.77.6878.08.5

9.410 111.412.313.815.115.817.319.522.1

24.426.829.640.250.551.760.268.682.8

107.9

125.9144.5148.0146.4159.4150.1153.4173.3

139.6149.1157.7151.5

154.9151.8152.7154.1

162.8171.7175.6183.0

187.0190.2205.1

Capitalgrants

receivedby theUnitedStates(net)

0.9.7.7

0-2,0

00001.1

1.21.1000000

0000

0000

0000

000

Payments to foreigners

Total

7.12.44.6

5.46.15.04.65.57.4

15.220.317.516,4

14.519.819.218.118.821.125.228.224.425.0

29.931.133.135.740.542.946.649.554.860.4

69.873.182.1

114.1149.5161.3177.7191.6227.5292.4

352.1383.9361.9352.5383.5370.9378.4428.0

335.9364.7385,7369.2

376.9373.9377.8385.2

395.3416.8440.4459.7

487.8507.1536.1

Imports of goods andservices

Total

5.92.13.4

3.74.74.86.57.27.97.38.3

10.69.8

12.315.316.016.816.318.119.920.921.123.5

24.023.926.227.529.633.239.142.149.354.7

60.566.178.297.3

135.2130.3158.9189.7223.4272.5

318.9348.9335.6358.7442.4448.9482.8551.1

321.9390.5453.6472.4

469.9475.1486.9499.4

514.4539.0565.6585.4

599.9597.5616.0

Mer-chan-dise

4.51.52.4

2.73.42.73.43.83.95.16.07.66.9

9.111.210.811.010.411.512.813.313.015.3

15.215.116.917.719.422.226,327.833.936.8

40.946.656.971.8

104.599.0

124.3151.9176.5211.9

247.5266.5249.5271.3334.3340.9367.7413.0

239.9298.3342.7361.4

357.0359.0373.0382.0

390.1402.3421.7438.0

441.7439.4448.6

Serv-ices

1.5.6

1.0

1.01.32.13.13.44.02.32.43.02.9

3.24.15.25.85.96.67.17.68.18.2

8.88.89.39.7

10.211.012.714.415.417.9

19.619.521.325.530.731.334.637.946.960.5

71.482.486.187.3

108.2108.0115.1138.1

82.092.2

110.9111.0

113.0116.1113.9117.5

124.3136.7143.9147.4

158.2158.2167.5

Transfer payments(net)

Total

0.4.2.2

.2

.2

.2

.2

.3

.82.92.64.55.6

4.03.52.52.52.32.52.42.32.32.3

2.42.72.82.93.03.03.13.33.23.2

3.53.94.14.14.64.95.45.15.66.2

7.77.59.09.5

12.315.115.413.5

10.613.417.016.9

* 12.016.417.116.1

11.912.612.017.6

12.711.813.3

Frompersons

(net)

0.3.2.2

.2

.2

.1

.2

.4

.5

.7

.7

.7

.5

.4

.4

.4

.5

.5

.4

.5

.5

.4

.4

.4

.5

.5

.6

.7

.7

.7

.9

.91.0

1.21.21.11.31.01.01.0.9.9

1,0

1.11.01.31.01.51.71.41.3

1.11.21.61.4

1.51.31.31.6

1.41.41.31.2

1.2.8.8

Fromgovern-

ment(net)

0.0.0.0

.0

.0

.1— 1— 1

A2.32.03.95.1

3.63.12.12.01.82.11.91.81.81.9

1.92.22.32.32.32.32.42.42.32.2

2.32.72.92.93.64.04.44.24.75.2

6.56.57.88.5

10.713.413.912.2

9.512.215.515.5

10.415.115.814.5

10.611.210.716.4

11.511.012.5

Interestpaid bygovern-ment to

foreigners

0.0.0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.1

.1

.1

.1

.2

1

.3

'.3A.5

'.&.7.8

1.01.82.73.84.34.54.55.5.8.711.1

12.616.918.317.819.821.322.624.1

18.918.321.221.5

22.522.222.822.9

23.823.923.924.6

26.626.827.8

Netforeigninvest-ment

0.8.2

1.0

1.51.3

-.1-2.1= 2.0= 1.3

4.99.32.4

.9

-1.8.9.6

-1.3.2.4

2.84.8

.9= 1.2

3.24,23.84.97.56.23.83.51.61.7

4.81.3

= 2.98.85.4

21.69.0

= 8.7-10.1

2.6

13.010.6

-1.0-33.5

909114.4

= 142.4= 160.6

-15,4= 57.4

-106.1= 141.6

=-127.4= 139.8= 149.0= 153.3

-154.8= 158.6-161.1= 167.8

= 151.3= 129.1-121.1


330


TABLE B-21.—Exports and imports of goods and services in 1982 dollars, 1929-88


Year orquarter

192919331939194019411942194319441945194619471948194919501951195219531954195519561957195819591960 .1961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983: IV1984: IV1985: IV1986:1

I II I IIV

1987:1I II l lIV

1988:1III l l

Exports of goods and services

Total

42.122.736.240.042.029.125.127.335.269.082.366.265.059.272.070.166.970.076.987.994.982.483.798.4

100.7106.9114.7128.8132.0138.4143.6155.7165.0178.3179.2195.2242.3269.1259.7274.4281.6312.6356.8388.9392.7361.9348.1371.8367.2378.4427.8336.0355.5376.6367.4374.5372.1379.1387.8394.9416.4440.9459.2486.2496.9514.0

Merchandise

Total

29.715.926.530.531.719.515.216.424.054.165.549.148.442.251.149.046.448.853.261.866.656.656.168.869.172.277.687.788.294.096.5

104.9110.0120.6119.3131.3160.6175.8171.5177.5178.1196.2218.2241.8238.5214.0207.6223.8231.6243.7280.1199.1214.4231.9231.9236.5238.0245.9254.1254.7269.4291.6304.6329.0339.1345.9

Dura-ble

goods

12.34.5

13.318.920.213.410.511.012.623.134.424.524.121.023.825.325.826.930.334.437.231.030.537.938.039.842.148.250.053.658.864.869.574.372.980.099.3

113.9112.1112.9111.2121.9136.6150.0143.8121.9119.6132.3143.7152.6177.3110.8126.3138.2143.8147.4151.4153.7157.9158.6167.9184.0198.8215.4223.1229.4

Non-dura-

blegoods

17.511.413.111.611.66.14.85.4

11.331.031.124.624.221.327.323.720.621.922.927.429.425.625.630.931.132.435.539.538.240.437.740.140.546.346.451.361.362.059.564.766.974.381.691.994.692.188.091.587.991.0

102.888.388.193.788.289.186.692.296.296.1

101.5107.7105.8113.6116.0116.5

Services

Total

12.36.89.89.4

10.39.69.8

10.911.214.916.917.116.717.020.921.220.521.223.726.128.325.827.629.631.634.737.141.143.844.447.150.855.057.659.964.081.793.388.296.8

103.6116.4138.6147.1154.3148.0140.5148.0135.6134.7147.7136.9141.1144.7135.4138.0134.1133.2133.7140.2146.9149.2154.6157.1157.8168.1

Factorin-

come •*

7.63.75.24.65.24.84.64.94.85.67.28.58.29.1

10.911.311.011.613.014.114.813.214.015.716.918.520.021.823.222.823.826.329.029.630.533.946.253.545.649.753.563.286.691.496.391.685.092.680.075.880.383.088.289.579.580.776.274.172.374.678.881.087.086.384.593.0

Other

4.83.14.54.85.14.95.26.06.59.49.78.68.57.9

10.09.99.59.6

10.712.013.512.613.513.914.716.217.219.320.621.623.324.526.028.029.430.135.439.842.647.150.153.252.055.757.956.355.555.455.658.967.453.852.955.255.957.357.959.161.465.668.268.267.670.973.375.1

Imports of goods and services

Total

37.424.230.131.738.236.948.051.154.142.039.947.146.254.657.463.369.767.576.983.687.992.8

101.9102.4103.3114.4116.6122.8134.7152.1160.5185.3199.9208.3218.9244.6273.8268.4240.8285.4317.1339.4353.2332.0343.4335.6368.1455.8471.4515.9556.7324.3401.6471.4492.6490.2512.4530.9530.2527.7542.3571.6585.2595.1589.5607.9

Merchandise

Total

29.319.224.025.629.421.025.026.526.030.029.333.933.340.940.441.944.642.148.353.656.158.168.067.569.078.981.286.397.0

109.1113.0135.7144.6150.9166.2190.7218.2211.8187.9229.3259.4274.1277.9253.6258.7249.5282.2351.1367.9412.3439,0242.7311,6364.2387.8385.8407.0429.3427.0420.2425.3449.5461.0463.1459.1470.9

Dura-ble

goods

7.44.06.98.8

11.06.76.56.76.97.87.89.48.9

11.511.513.013.711.914.716.817.116.922.821.721.124.826.229.035.644.048.061.765.666.874.484.488.989.272.488.599.3

113.7115.7116.1126.1125.3150.4201.6218.7241.4260.2117.1172.5211.4226.8231.5240.0245.6248.3249.3252.5262.2276.9279.1276.3283.5

Non-dura-ble

goods

22.015.217.016.818.414.318.519.719.122.221.524.524.429.528.928.930.930.333.536.839.041.345.345.847.954.055.057.461.465.265.074.079.084.191.8

106.4129.4122.5115.5140.8160.1160.4162.2137.5132.6124.2131.9149.5149.3170.9178.8125.6139.1152.8161.0154.3166.9183.7178.7170.8172.8187.3184.1184.1182.8187.4

Services

Total

8.04.96.16.28.8

15.823.024.628.212.010.613.113.013.617.121.425.125.428.630.031.834.633.834.934.335.535.436.537.743.047.549.655.257.452.753.955.656.652.956.157.765.375.378.484.786.185.8

104.7103.5103.7117.781.690.1

107.2104.8104.5105.4101.6103.2107.6117.0122.2124.2132.0130.4137.0

Factorin-

come '

2.61.32.22.01.91.71.92.12.51.92.12.32.62.83.12.93.13.33.63.43.43.74.04.64.84.65.15.66.27.07.58.6

12.012.59.8

10.213.917.716.316.716.121.1

. 30.835.941.140.537.148.743.145.054.735.139.747.441.944.247.542.645.546.854.257.760.366.866.370.6

Other

5.43.64.04.16.9

14.221222.525.710.18.5

10.810.410.814.018.421.922.125.026.628.430.929.830,329.630.930.330.931.636.040.041.043.245.042.943.741.738.936.639.341.6

.44.244.542.443.645.748.756.060.458.763.046.550.359.862.960.357.959.057.760.862.864.463.965.264.266.4

1 Factor income exports less factor income imports equals rest-of-the-world product.Source: Department of Commerce, Bureau of Economic Analysis.

331


TABLE B-22.—Relation of gross national product, net national product, and national income, 1929-88


Year or quarter

192919331939

1940194119421943194419451946194719481949

1950195119521953195419551956... .195719581959

19601961. .19621963..196419651966196719681969

1970197119721973197419751976....197719781979 ..

19801981198219831984198519861987

1982: IV1983: IV1984- IV1985: IV

1986: 1||I l lIV

1987: 1IIIII . . .IV

1988- 1||I I I


103956091.3

100.41255159.01927211.421342124235226162604

2883333.43516371.63725405.94282451045684958

5153533857466069649870517720816489279639

101551 10271,212813593147281598417828199052249725082

27320305263 166 03405737722401494*240 345267

32125354583851841079

41804420764268443046

4391844842456804662847245482384909 0

Less:Capital

consump-tion

allowanceswith

capitalconsump-

tionadjustment

997.69.0

9.410.311.311.612.012.414217.620422.0

23.627.229.230.932.534.438.1411428446

46447849.451453.957462.1674739814

88.8975

107.91181137516181792201.522992658

30383478383 239664155437245594800

3932400842354469

44784535457946444687477048464895498350325077

Equals:Net

nationalproduct

94.048.482.3

91.1115.3147.7181.1199.4201.01982217.62412238.4

264.6306.2322.5340.7340.0371.5390.1409941404512

46894861525.25555595,96477709,9749081878825

9266100511 104,8l'241 21 33541436 616036178902'019 822424

24281270482 782 83009133568357763784440467281933145034283366l'o37327375403810538402

392314007 24083441733422624'320544013

Indirectbusinesstax andnontaxliability

717.19.4

10.111.311.812.814.215.517118.4201213

23.425.327729.729632.235.0374386417

45348051.554658.7625652701787863

940103411111208129014001517165717811894

2133251 5258 8282631393336348436632645294 1322733833472341635273523

3569363837033742

379438583923

Less:

Busi-ness

transferpay-

ments

0.6

.5

.4

.5

.5

.5

.5

.67.8

.8

.91.01.21.11.21.4151.618

202.02.12.42.72.83.031343.9

4.1. 4.4

4.95.5587.4798.693

103

12.112414316018722025.128115216520023.0

23824625626527227928529029630331 1

Statis-tical

discrep-ancy

1.51.21.7

1.4

-.7-1.7

2.74.0

.71.8

= 13.8

.82.71.82.62.71.8

-1.9-12-.1

-15

-28-1.2

.0-=.6

-1.4-1.2

2.1-.4

-1 1-3.9

-1.11.8

-1.6=4.3-17

2.536

.0-19

10

4.941

1525448

-13.6-81

682521

-79

-12095

136194

-85-2515164

1505 1

-140

Plus:CiihciHiac

lesscurrentsurplus

ofgovern-

mententer-prises

-0.2.0.4

.4

.1

.1

.1

.6

9-.2_ 1-.3

.1-.1-.3-.5-.3

.0

.77

1.11

41.71.81.11.71.62.51.6141.9

2.92.63.73.5122.4103.03.935

5.76787

1419972

1261831541968453

5124550

158

25513883

256

18619288

Equals:Nationalincome

84.739.471.2

79.6102.8136.2169.7182.6181.6180.7196.6221.5215.2

239.8277.3291.6306.6306.3336.3356.3372.8375.0409.2

424.9439.0473.3500.3537.6585.2642.0677.7739.1798.1

832.6898.1994.1

1,122.71,203.51,289.11,441.41,617.81,838.22,047.3

2,203.52,443.5251842,719.530286323403,437.13,678.7

2 548 228515309613,312.83,378.9342183450 934966

3,573.03,631.83,708 03802038508392884,000 7


332


TABLE B-23.—Relation of national income and personal income, 1929-88


Year or quarter

19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959I9601961196219631964196519661967196819691970 ...197119721973197419751976197719781979198019811982198319841985198619871982- IV1983- IV1984- IV1985- IV1986:1

||I l lIV

1987- i||IllIV

1988-1||II I

Nationalincome

84739471279.6

1028136.21697182.6181 6180.71966221.52152239.82773291.6306630633363356.33728375.0409242494390473.35003537.65852642.067777391798.1832.6898.19941

1 122.71,203.51,289.11,441.41 617.8183822,047.32 203.5244352,518.42,719.530286323403,437.13,678.7254822,851.53096.1331283,378.93421.83 450.9349663,573.03,631.8370803,802.03,850.8392884,000.7

Corporateprofits

withinventoryvaluation

andcapital

consump-tion

adjust-ments

961 55588

1431972 4 024219717.222930.328034939937.537736647 145,745340.351449550358363670.781386.684190787474.787 1

10071133101.7117.6145217481972200.117721880150.0213.726692823298.931041461248.5266,92914303.2297.130122939298.3305.23220316.1316.23265330.0

Le

Netinterest

4 74 1363333312 72.32 21.82 32.42 63.0353.94 452586.5789.5

10211312914.616318.220924.327429834641.246.351059675.583.888.8

105.31263158.3200.92481272.3281.030483190331.9353.62669290.2313.13227331.1334.1333.33293338.3348.1358.3369.5373.9380.6396.2

SS:

Contribu-tions for

socialinsurance

0.33

2 22.4283.5465.2637.76.76.06.67.4889.396

10612013.515515.918821.922925.428530.131.640.645,550457.962.268.979097.6

110.5118.5134,5149.8171.7197.8216.5251.2269.6291.0324.93541378.1399.1273.0299.2331.5362.1372.3375.3379.1385.9391.5395.4400.9408.6433.3440.9448.4

Wageaccruals

lessdisburse-

ments

0.00

.0

.0o

.02

-.20.0.0.0.0.01

.0-.1

0.0.0.0.0.0.00

.0

.0

.0

.0

.0

.00.0.0.6.0

-.5.1.1.1.3

-.2.0.1.0

-.4.2

-.2.0.0.0.0.6.0.0.0.0.0.0.0.2

.0

.0

.0

Govern-ment

transferpayments

topersons

091 52 52 7262.7253.156

10.811210.611714.411612.213115316417.520324.725727.531532.634536.039143.652.360667.581.897.0

1084124,1147.4185.7202.8217.5234.8262.8312.6355.7396.2426.6437.9467.8496.0520.6420.2429.0443.0474.5486.3492.6501.0504.3511.6519.9523.2527.8546,7552.5557.6

Pit

Personalinterestincome

6955535.3535.2515.2586.6758.08.79.6

10411.212413714916.618720.322324.926328.932.235.539.644.248.253260.969.374.780.893.3

111.9122.5134.1155.4182.5221.5271.9335.4369.7393.1444.7478.0499.1527.0366.2411.6464.4485.9497.1502.0499.4497.6507.1517.9533.0550.0554.2563.7581.9

S:

Personaldividendincome

5820384.0444.34 44.64.65.66.37.07.28.88.58.58.891

10.311.111.511.312.212.913314.415.517.319.119.420.221922.422.222.624.126.628.928.733.838.243.048.152.961.363.968.775.578.782.888.665.471.076.879.081.182.883.583.685.387.389.991.993.595.097.3

Businesstransfer

payments

0675

.45.55

.5

.5

.6

.7

.8'.8.9

1.01.21 11.21.41.51.61.82.0202.12.42.72.83.03.13.43.94.14.44.95.55.87.47.98.69.3

10.312.112.414.316.018.722.025.128.115.216.520.023.023.824.625.626.527.227.928.529.029.630.331.1

Equals:

Personalincome

843463721776952

12241507164.51700177.61902209.22064228.12565273.8290529303142337.23563367.13907409.44260453.24763510.2552.0600.8644.57072772.9831.8894.0981.6

1,101.71,210.11,313.41,451.41,607.51,812.42,034.02,258.52,520.92,670.82,838.63,108.73,325.33,531.13,780.02,729.22,941.83,188.33,399.13,460.73,517.33,546.73,599.63,676.13,736.13,801.03,906.83,951.44,022.44,094.0


333


TABLE B-24,—National income by type of income, 1929-88


Year or quarter

19291933193919401941194219431944194519461947194819491950 .. .1951195219531954195519561957195819591960196119621963196419651966196719681969 . . .19701971 . .. .19721973197419751976197719781979 . .19801981198219831984. . ,198519861987..1982: IV1983: IV..1984: IV1985: IV.. . .1986- 1

III l lIV

1987:1I II l l .. .IV

1988: II II l l

Nationalincome1

84.739.471.279.6

102.8136.2169.7182.6181.6180.7196.6221.5215.2239.8277.3291.6306.6306.3336.3356.3372.8375.0409,2424.9439.0473.3500.3537.6585.2642.0677.7739.1798.1832.6898.1994.1

1,122.71,203.51,289.11,441.41,617.81,838.22,047.32,203.52,443.52,518.42,719.53,028.63,234.03,437.13,678.72,548.22,851.53,096.13,312.83,378.93,421.83,450.93,496.63,573.03,631.83,708.03,802.03,850.83,928.84,000.7

Compensationof employees

Total

51.129.648.252.264.885.3

109.6121.3123.3119.6130.1142.1142.0155.4181.6196.3210.4209.4225.9244.7257.8259.8281.2296.7305.6327.4345.5371.0399.8443.0475.5524.7578.4618.3659.4726.2812.8891.3948.7

1,057.91,176.61,329.21,491.41,638.21,807.41,907.02,020.72,213.92,367.52,507.12,683.41,931.12,092.72,272.72,426.72,461.02,483.42,518.22,565.82,608.92,652.02,702.82,769.92,816.42,874.02,933.2

Wagesand

salaries

50.529.046,0

' 49.962.182.1

105.8116.7117.5112.0123.1135.5134,7147.2171.6185.6199.0197.2212.1229.0239.9241.3259.8272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3551.5584.5638.7708.6772.2814.7899.6994.0

1,119.61,251.91,372.01,510.41,586.11,676.21,838.81,975.22,094.02,248.41,603.71,739.41,891.12,027.42,055.82,074.02,103.32,142.82,182.92,220.62,265.32,324.82,358.72,410.02,462.0

Supple-ments

towages

andsal-

aries2

0.7.6

2.22.32.83.23.84.55.87.67.06.57.38.2

10.010.711.512.113.815.717.818.521.423.825.128.130.733.236.142.746.652.860.166.874.987.6

104.2119.1134.0158.3182.6209.7239.5266.3297.1320.9344.5375.1392.4413.1435.0327.4353.4381.7399.3405.2409.5414.8423.0426.0431.3437.5445.1457.7464.0471.1

Proprietors' income with inventory valuation andcapital consumption adjustments

Total

14.45.4

11.412.617.123.928.830.031.536.335.540.435.938.844.044.443.443.545.446.948.851.551.752.154.356.657,760.565.169.671,175.479.380.286.898.3

119.0118.8125.4137.7152.9176.2191.9180.7186.8175.5190.9234.5255.9286.7312.9188.3207.8237.8264.2273.1294.6285.0294.2310.1308.9306.8326.0323.9328.8321.6

Farm

Total

6.12.54.44.46.4

10.112.011.912.414.815.117.512.813.616.015.013.012.411.311.111.013.110.811.612.012.111.910.713.014.012.712.814.614.715.519.433.727.525.420.620.527.031.720.530,724.612.430.530.236.443.028.519.3

'• 28.129.227,646.433.338.446.743.035.247.044.743.430.9

Propri-etors'

in-come3

6.32.54.54.56.5

10.312.212.212.615.215.618.213.514.316.815.913.913.212.112.011.914.011.712.412.812,912.611.413.714.813.613.715.816.016.821.135.630.129.024.625.132.438.028.139.433.921.839.638.944.550.638.028.537.537.835.954.541.346.254.450.742.954.552.250.837.9

Capita)con-

sump-tion

adjust-ment

-0.2.0

-.1= .1= .2-.2

—2

-A-.5-.7-.7-.7-.8-.9= .9= .8= .8= .9-.9-.9-.9-.8-.8-.8-.7-.7-.7= .8= .8= .9

-1.1-1.3-1.3-1.7-1.9-2.6-3.6-4.0-4.6-5.3-6.3-7.6= 8.7-9.3-9.4-9.2-8.7-8.1-7.6-9.4-9.3-9.3-8.6-8.3-8.2-8.0-7.9-7.7-7.7-7.7-7.5— 7 5-/3-7.0

Nonfarm

Total

8.32.97.18.2

10.813.816.818.119.121.520.422.923.125.228.029.430.431.134.035.837.838.540.940.542.344.445.749.852.155.558.462.664.765.471.479.085.391.3

100.0117.1132.4149.2160.1160,1156.1150.9178.4204.0225.6250.3270.0159.8188.6209.7235.0245.5248.3251.7255.8263.5265.9271.5279.0279.2285.3290.7

Propri-etors'

income

8.83.97.68.6

11.714.417.118.319.323.321.823.122.225.721.128.529.830.433.535.437.237.740.139.741.743.845.149.151.855.558.463.165.166.072.379.687.295.3

102.2119.6135.1152.8164.0164.3155.2148.5167.3182.4194.6212.7233.0156.9172.7182.5201.1209.4210.8213.0217,4224.8228.6235,1243.4243.7250.9256.8

Inven-tory

valua-tion

adjust-ment

0.1,-.5-.2

.0-.6-.4-.2-.1-.1

-1.7-1.5-.4

.5-1.1-.3

.2-.2

.0— 2-S-.3-.1

.0

.0

.0

.0

.0-.1-.2

-.2-.4-.5-.5-.6-.7

-2.0-3.8-1.2-1.3-1.3-2.3-2.9-2.9-1.4

~'.B-.4— 2~!i

-1.0-.6— 7

'.3

.2— 1

!i-.4-.2

-1.0-1.1-1.7-1.2-1.7-1.5

Capita)con-

sump-tion

adjust-ment

-0.6-.5

-.3

— 3— .2

-!l-.1

,1

'.5.6.6

J.8.7.9.9.9.9.8.6.6.7,7.4.3.2

-=.1.1.0

= .3.1.1

-.3-•1.0---1.3-1.4-1.4- 1.0~ 1.2

2.32.9

12.022.031.237.838.0

3.516.526.934.236.337.638.638.838.838.237.637.436.636.135.4

1 National income is the total net income earned in production. It differs from gross national product mainly in that it excludesdepreciation charges and other allowances for business and institutional consumption of durable capital goods and indirect businesstaxes. See Table B-22.

2 Consists mainly of employer contributions for social insurance and to private pension, health, and welfare funds.See next page for continuation of table.

334


TABLE B-24.—National income by type of income, 1929-88—Continued


Year or quarter

1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982 IV1983 IV1984- IV1985: IV1986:1

||HIIV

1987- 1I II l lIV

1988:1III l l

Rental income of personswith capital consumption

adjustment

Total

4.92.02.62.73.24.14.64.85.05.85.86.46.77.78.39.4

10.711.612.012.413.113.914,615.315.816.517.117.318.118.619.618.418.418.218617.918.016113.511.98.29.35.66.6

13.313.613.28.59.2

12.418.415.812.45.67.8

10.612.513.113.417.417.818.120.520.519.119.7

Rentalincome

ofpersons

5.62.13.23.34.05.15.76.16.57.58.29.19.4

10.511.512.713.914.915.315.916.517.318.018.719.119.820.320.521.322.223.522.924.224.625926.528.128928.628.928.834.235.741.452.254.455.051.954.257.466.256.554.349.654.555.157.458.159,063.165.567.169.169.668.068.5

Capitalcon-

sumptionadjust-ment

= 0.71

= .5-.6-.8— 9

-11-1.3-1,5

17-2.4-2.7

27= 2.8

32— 3.3

33-3.2

33= 3.5= 3.5-3.4= 3.4-3.4-3.3-3.3-3.2-3.2=3.3

36-3.9

4 5-5.8

64= 74-8,6

-10.1-127= 15.0-17.0-20.6-24.9-30.1-34.8-38.9

408418

= 43.3450450

-47.8407419

-44.0-46.7= 44.5-44.9-45.0

456-45.7-47.7

490-48.6-49.1-49.0-48.8

Corporate profits with inventory valuation and capital consumption adjustments

Total

9.61 55.58.8

14.319.724.024.219,717.222.930.328.034.939.937.537.736.647.145.745.340.351.449.550.358.363.670.781.386.684.190.787.474.7871

100.7113.31017117.6145.2174.8197.2200.1177.2188.0150.0213.7266.9282.3298.9310.4146.1248.5266.9291.4303.2297.1301.2293.9298.3305.2322.0316.1316.2326.5330.0

Profits with inventory valuation adjustment and withoutcapital consumption adjustment

Total

10.5-1.2

6.59.8

15.420.524.524.019,319.625.933.431.137.943.340.640.238.447.546.946.641.652.349.850.155.259.866.276.281.278.685.481,469.582.794.9

107.199.4

123.9155.3183.8208.2214.1194.0202.3159.2196.7234.2222.6244.7258.7150.7223.4224.6228.4243.4242.1249.2244.1247.5253.6269.9263.7266.8278.5284.6

Profits

Profitsbefore

tax

10.01.07.2

10.017.921.725.324.219.824.831.835.629.242.944.539.641.238.749.249.648.141.952.649.949.855.159.866.777.483,380.189.187.276.087.3

101.5127.2138.9134.8170.3200.4233.5257.2237.1226.5169.6207.6240.0224.3236.4276.7164.1231.5226.1235.0222.5230.3240.5252.1261.8273.7289.4281.9286.2305.9313.9

Profitstax

l iability

1.4.5

1.42.87.6

11.414.112.910.79.1

11.312.410.217.922.619.420.317.622.022.021.419.023.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.177.293.996.4

106.6133.859.888.187.099.899.2

104.9107.9114.3126.3132.6140.0136.2136.9143.2144.8

Profits after tax

Total

8.6.4

5.77.2

10.310.311.211.39.1

15.720.523.219.025.021.920.220,921.127.227.626.722.928.927.227.131.233.538.746.549.647.549.747.541.749.659.677.987.183.9

106.0127.4150.0169.2152.3145.4106.5130.4146.1127.8129.8142.9104.3143.4139.2135.2123.2125.4132.6137.9135.5141.1149.5145.7149.4162.7169.1

Divi-dends

5,82.03.84.04.44.34.44.64.65.66.37.07.28.88.58.58.89.1

10.311.111.511.312.212.913.314.415.517.319.119.420.222.022.522.522.924.427.029.729.634.639.544.750.154.763.666.971.579.083.388.295.568.573.980.884.086.288.088.989.891.794.097.099.3

101.3103.1105.7

Undis-tributedprofits

2,8-1.6

2.03.25.86.06.76.74.5

10.214.216,211.816.213.411.812.111.916.916.615.211.616.714.313.716.818.021.427.430.227.327.725.019.226.635.250.857.354.371.487.9

105.2119.197.681.839.658.967.044.641.647.435.869.558.451.237.037.443.748.143.847.052.446.448.159.663.4

Inven-tory

valu-ation

adjust-ment

0.5-2.1-.7-.2

= 2.5-1.2= .8-.3-.6

-5.3-5.9-2.2

1.9-5.0-1.2

1.0-1.0

—3-1.7-2.7-1.5-.3-.3-.2

.3

.0

.1-.5

= 1.2-2.1-1.6-3.7-5.9-6.6-4.6=6.6

-20.0= 39.5-11.0-14.9-16.6-25.3-43.2-43.1-24.2-10.4= 10.9-5.8-1.7

8.3-18.0-13.4-8.1-1.6=6.621.011.88.7

-8.1= 14.4-20.0= 19.5-18.2= 19.4-27.4-29.3

Capitalcon-

sumptionadjust-ment

-0.9-.3

= 1.0-1.1-1.1-.8— 5

'.2.4

=2.4=2.9-3.2-3.0-3.0-3.4=3.2=2.5= 1.8-.4

-1.2-1.3= 1.3-.8-.3

.23.13.84.55.25.45.55.36.15.24.35.86.22.3

-6.2-10.1-9.0

-10.9-14.0-16.8-14.4= 9.217.032.759.754.251.7

-4.525.142.363.059.855.052.049.850.851.552.152.449.448.045.4

Netinterest

4.74.13.63.33.33.12.72.32.21.82.32.42.63.03.53.94.45.25.86.57.89.5

10.211.312.914.616.318.220.924.327.429.834.641.246.351.059.675.583.888.8

105.3126.3158.3200.9248.1272.3281.0304.8319.0331.9353.6266.9290.2313.1322.7331.1334.1333.3329.3338.3348.1358.3369.5373.9380.6396.2

3 With inventory valuation adjustment.Source: Department of Commerce, Bureau of Economic Analysis.

335


TABLE B-25.—Sources of persona/ income, 1929-88


Year or quarter

1929193319391940194119421943194419451946194719481949195019511952195319541955 .19561957195819591960196119621963196419651966 ...19671968196919701971 .. .197219731974 ..19751976197719781979198019811982198319841985198619871982: IV1983- IV1984: IV1985- IV1986:1

III l lIV

1987- 1III l lIV

1988- 1||III

Personalincome

84.346.372.177.695.2

122.4150.7164.5170.0177.6190.2209.2206.4228.1256.5273.8290.5293.0314.2337.2356.3367.1390.7409.4426.0453.2476.3510.2552.0600.8644.5707.2772.9831.8894.0981.8f

1,101.71,210.11,313.41,451.41,607.51,812.42,034.02,258.52,520.92,670.82,838.63,108.73,325.33,531.13,780.02,729.22,941.83,188.33,399.13,460.73,517.33,546.73,599.63,676.13,736.13,801.03,906.83,951.44,022.44,094.0

Wage and salary disbursements1

Total

50.529.046.049.962.182.1

105.6116.9117.5112.0123.1135.5134.8147.2171.5185.6199.0197.2212.1229.0239.9241.3259.8272.8280.5299.3314.8337.7363.7400.3428.9471.9518.3551.5583.9638.7708.7772.6814.6899.5-993.9

1,119.31,252.11,372.01,510.31,586.11,676.61,838.61,975.42,094.02,248.41,603.61,739.41,890.52,027.42,055.82,074.02,103.32,142.82,182.92,220.62,265.12,325.12,358.72,410.02,462.0

Commodity-producingindustries

Total

21.59.8

17.419.727.539.149.050,445.946.054.261.157.864.876.482.189.885.893.3

100.8104.4100.3109.9113.4114.0122.2127.4136.0146.6161.6169.0184.1200.4203.7209.1228.2255.9276.5277.1309.7346.1392.3441.4470.7512.2511.7523.1577.6608.9625.5649.8501.8545.4591.6619.2622.7622.0625.0632.3638.2642.8652.8665.5676.0689.1701.3

Manu-facturing

16.17.8

13.615,621.730.940.942.938.236.542.547.144.650.359.464.271.367.673.979.582.578.786.989.889.996.8

100.7107.3115.7128.2134.3146.0157.7158.4160.5175.6196.6211.8211.6238.0266.7300.1334.8355.6386.7384.0397.4439.1460.9473.1490.3377.4415.5449.5468.3471.1470.6473.0477.9482.7484.6492.6501.3509.6517.4525.9

Distrib-utiveindus-tries

15.68.8

13.314.216.318.020.122.724.831.035.237.537.739.944.447.049.950.353.658.060.761.165.168.669.673.376.882.087.995.1

101.6110.8121.7131.2140.4153.3170.3186.8198.1219.5242.7274.6307.8335.5366.8384.2404.2442.8473.2498.9531.7389.3420.8455.1484.6490.9494.0501.1509.7516.6526.1536.8547.3558.2572.1585.8

Serviceindus-tries

8.45.27.17.58.19,09.9

10.911.914.316.117.918,519.921.623.225.026.228.731.533.835.938.841.744.447.650.754.959.465.372.080.490.699.4

107.9119.7133.9148.6163.4181.6202.8232.9266.8305.6346.9384.4425.1.472.1521.3575.9646.8398.5443.2489.6543.4556.8567.2580.8598.7617.1634.8652.4682.8687.4705.9725.8

Govern-mentand


5.05.28.28.5

10.216.026.633.034.920.717.519.020.822.629.233.334.434.936.638.841.044.146.049.252.456.360.064.969.978.386.496.6

105.5117.1126.5137.4148.7160.9176.0188.6202.3219.4236.1260.2284.4305.9324.3346.1372.0393.7420.1314.0330.0354.3380.3385.4390.8396.5402.2410.9416.9423.0429.5437.1442.9449.1

Otherlabor

income1

0.5.4.6.6

,91.11.51.82.02.42.72.93.74.65.25.96.17.08.09.09.4

10.611.211.813.014.015.717.819.921.725.228.532.536.743.049.256.565.979.394.1

107.7122.7138.4150.3163.6173.6182.9187.6196.1207.9168.0177.8185.4189.7191.9194.4197.5200.6203.4206-4209.3212.4214.6216.5219.5

Proprietors' incomewith inventoryvaluation and

capitalconsumptionadjustments

Farm

6.12.54.44.46.4

10.112.011.912.414.815.117.512.813.616.015.013.012.411.311.111.013,110.811.612.012.111.910.713.014.012.712.814.614.715.519.433.727.525.420.620.527.031.720.530.724,612.430.530.236.443.028.519.328.129.227.646.433.338.446.743.035.247.044.743.430.9

Nonfarm

8.32.97.18.2

10.813,816.818.119.121.520.422,923,125.228.029.430.431.134.035.837.838.540.940.542.344.445.749.852.155.558.462.664,765,471.479.085.391.3

100.0117.1132.4149.2160.1160.1156.1150.9178.4204.0225.6250.3270.0159.8188.6209.7235.0245.5248.3251.7255.8263.5265.9271.5279.0279.2285.3290.7

1 The total of wage and salary disbursements and other labor income differs from compensation of employees in Table B-24 in that itexcludes employer contributions for social insurance and the excess of wage accruals over wage disbursements.


336


TABLE B-25.—Sources of personal income, 2929-88—Continued


Year or quarter

19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959I9601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983: IV1984: IV1985: IV1986:1

I IHIIV

1987- 1t|II!IV

1988- 1 . .IIII I

Rentalincome

ofpersons

withcapital

con-sumption

adjust-ment

4.92.02.62.73.24.14.64.85.05.85.86.46.77.78.39.4

10.711.612.012.413.113.914.615.315.816.517.117.318.118.619.618.418.418.218.617.918.016.113.511.98.29.35.66.6

13.313.613.28.59.2

12.418.415.812.45.67.8

10.612.513.113.417.417.818.120.520.519.119.7

Personaldividendincome

5.82.03.84.04.44.34.44.64.65.66.37.07.28.88.58.58.89.1

10.311.111.511.312.212.913.314.415.517.319.119.420.221.922.422.222.624.126.628.928.733.838.243.048.152.961.363.968.775.578.782.888.665.471.076.879.081.182.883.583.685.387.389.991.993.595.097.3

Personalinterestincome

6.95.55.35.35.35.25.15.25.86.67.58.08.79.6

10.411.212.413.714.916.618.720.322.324.926.328.932.235.539.644.248.253.260.969.374.780.893.3

111.9122.5134.1155.4182.5221:5271.9335.4369.7393.1444.7478.0499.1527.0366.2411.6464.4485.9497.1502.0499.4497.6507.1517.9533.0550.0554.2563.7581.9

Transfer payments

Total

1.5213.03.13.13.13.03.66.2

11.311.711.312.515.212.613.314.316.317.718.921.826.327.429,533.534.736.938.741.946,655.564.071.485.9

101.5113.3129.6153.2193.1210.7226.1244.0273.1324.7368.1410.6442.6456.6489.8521.1548.8435.4445.5463.0497.5510.0517.2526.5530.8538.8547.8551.7556.8576.3582.8588.6

Old-age,survivors,disability,

andhealthinsur-ance

benefits

0.0.0.1.1.2.2.3.4.5.6.7

1.01.92.23.03.64.95.77.38.5

10.211.112.614.315.216.018.120.825.530.232.938.544.549.660.470.181.492.9

104.9116.2131.8154.2182.0204.5221.7235.7253.4269.3282.9216.6227.0241.7257.0264.4266.8272.4273.4277.9282.8284.5286.5298.1300.4303.1

Govern-ment

unem-ployment

insur-ance

benefits

0.4.5.4.4.1.1.4

1.1.8.9

1.91.5

.91.11.02.21.51.51.94.12.83.04.33.13.02.72.31.92.22.12.24.05.85.74.46.8

17.615.812.79.79.8

16.115.925.226.315.815.716.314.731.820.015.615.215.516.316.916.615.715.114.513.413.913.413.4

Veteransbenefits

0.6.6.5.5.5

i!o3.07.07.05.95.37.74.64.34.14.24.44.44.54.74.64.65.04.74.84.74.94.95.65.96.77.78.89.7

10.411.814.514.413.813.914.415.016.116.416.616.416.716.716.616.616.516.316.517.016.916.716.516.616.716.616.617.017.117.1

Govern-ment

employ-ees

retire-ment

benefits

0.1.2.3.3.3

'A.4.5

'.1

'31.01.11.21.41.51.71.92.22.52.83.13.43.74.24.75.26.16.97.68.7

10.211.813.816.019.022.726.129.032.736.943.049.454.658.761.466.870.675.756.160.258.567.969.170.171.072.173.575.576.777.180.482.381.6

Aid tofamilies

withdepend-

entchildren(AFDC)

0.3.4.5.6.6.5.5.6.6.6.7.8.9

1.01.11.31.41.51.71.92.32.83.54.86.26.97.27.99.2

10.110.610.711.012.413.013.314.214.815.416.316.713.614.514.815.816.016.316.416.616.616.716.816.816.917.117.2

Other

0.81.41.71.71.81.81.82.02.02.12.52.93.33.53.63.94.24.24.54.85.25.76.26.77.17.68.39.19.8

11.213.015.317.320.724.527.631.237.547.651.555.160.969.184.091.896.5

105.1112.6121.9131.9142.1100.6107.3116.1125.0127.9130.8133.1135.7138.5140.9142.7146.5150.0152.5156.2

Less:Personalcontribu-tions for

socialinsurance

0.1.2.6.7.8

1.21.82.22.32.02.12.22.22.93.43.84.04.65.25.86.76.97.99.39.7

10.311.812.613.317.820.622.926.227.930.734.542.647.950.455.561.269.881.088.6

104.5112.3120.1132.7149.3161.1172.0113.5123.6135.2152.6159.0160.2161.7163.5168.9170.5172.7175.9190.2193.5196.7

Nonfarmpersonalincome2

159.9172.0188.3190.6211.2237.1255.4274.2277.5299.6322.8341.9350.4376.2393.9409.9436.7460.0494.9534.0581.5626.3688.7752.1810.4871.8955.0

1,059.71,172.61,276.91,417.91,572.61,769.31,983.22,215.82,465.62,618.72,799.03,052.13,271.33,472.53,716.02,672.82,895.63,134.73,346.93,410.53,448.73,491.43,539.53,608.03,672.03,744.93,839.23,886.33,957.94,041.9

2 Personal income exclusive of the farm component of wages and salaries, other labor income, proprietors' income, and net interest.Note.—The industry classification of wage and salary disbursements and proprietors' income is on an establishment basis and is

based on the 1972 Standard Industrial Classification (SIC) beginning 1948 and on the 1942 SIC prior to 1948.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-26.—Disposition of personal income, 1929-88


Year or quarter

1929193319391940194119421943194419451946194719481949 ....1950195119521953195419551956 ..19571958 .195919601961196219631964196519661967196819691970 ....197119721973 ...197419751976197719781979 ....198019811982198319841985198619871982- I V . .1983: IV1984: IV1985: IV1986-1

I t . .Ill .IV

1987:1||IllIV

1988- 1 ....HI I I

Personalincome

84.346.372.177.695.2

122.4150.7164.5170.0177.6190.2209.2206.4

228.1256.5273.8290.5293.0314.2337.2356.3367.1390.7

409.4426.0453.2476.3510.2552.0600.8644.5707.2772.9831.8894.0981.6

1,101.71,210.11,313.41,451.4

- 1,607.51,812.42,034.02,258.52,520.92,670.82,838.63,108.73,325.33,531.13,780.02,729.22,941.83,188.33,399.13,460.73,517.33,546.73,599.63,676.13,736.13,801.03,906.83,951.44,022.44,094.0

Less:Persona!tax andnontax

payments

2.61.42.42.63.35.9

17.818.920.318.721.421.018.520.628.934.035.532.535.439.742.442.246.150.552.257.060.558.865.274.982.497.7

116.3116.2117.3142.0152.0171.8170.6198.7228.1261.1304.7340.5393.3409.3410.5440.2486.6511.4570.3411.1413.9459.7499.6495.6501.0514.2534.9532.2582.0576.2591.0575.8601.0586.5

Equals:Dispos-

ablepersonalincome

81.744.969.775.091.9

116.4132.9145.6149.2158.9168.8188.1187.9207.5227.6239.8255.1260.5278.8297.5313.9324.9344.6358.9373.8396.2415.8451.4486.8525.9562.1609.6656.7

715.6776.8839.6949.8

1,038.41,142.81,252.61,379.31,551.21,729.31,918.02,127.62,261.42,428.12,668.62,838.73,019.63,209.72,318.12,527.92,728.62,899.52,965.13,016.33,032.43,064.73,143.93,154.13,224.93,315.83,375.63,421.53,507.5

Less: Personal outlays

Total

79.246.567.972.081.989.5

100.2109.0120.5145.3163.6177.0180.6194.8211.0222.4236.7244.1262.8276.2291.2300.6322.8338.1348.9370.2391.2419.9452.5489.9516.9567.1614.5657.9710.5778.2860.8941.7

1,038.21,156.91,288.61,441.11,611.31,781.11,968.12,107.52,297.42,504.52,713.32,898.03,105.52,174.92,382.52,571.32,787.72,828.22,862.12,933.62,967.93,013.13,084.73,152.33,171.83,225.73,293.63,361.8

Personalcon-

sumptionexpendi-

tures

77.345.867.071.080.888.699.5

108.2119.6143.9161.9174.9178.3192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9

640.0691.6757.6837.2916.5

1,012.81,129.31,257.21,403.51,566.81,732.61,915.12,050.72,234.52,430.52,629.02,807.53,012.12,117.02,315.82,493.42,700.42,739.02,772.12,842.82,876.02,921.72,992.23,058.23,076.33,128.13,194.63,261.2

Interestpaid by

consum-ers tobusi-ness

1.5.5.7.8.9.7.5.5.5.7

1.01.41.72.32.52.93.63.84.45.15,55.66.17.07.37.88.89.9

11.112.012.513.815.616.717.719.522.324.124.426.630.536.743.547.452.055.561.972.582.689.192.156.865.576.385.987.788.789.590.490.191.192.894.496.498.299.8

Per-sonal

transferpay-

mentsto

for-eigners

(net)

0.3.2.2.2.2.1.2.4.5

J.7.5.4.4.4.5.5.4.5

'A.4.4.5.5.6.7.7.7.9.9

1.01.21.21.11.31.01.01.0.9.9

1.01.11.01.31.01.51.71.41.31.11.21.61.41.51.31.31.61.41.41.31.21.2.8.8

Equals:Personalsaving

2.6-1.6

1.83.0

10.027.032.736.528.713.65.2

11.17.4

12.616.617.418.416.416.021.322.724.321.820.824.925.924.631.534.336.045.142.542.257.766.361.489.096.7

104.695.890.7

110.2118.1136.9159.4153.9130.6164.1125.4121.7104.2143.1145.4157.3111.7136.9154.198.896.8

130.869.572.6

144.0149.9127.8145J

Percent of disposablepersonal income

Personal outlays

Total

96.8103.697.496.089.176.875.474.980.891.496.994.196.193.992.792.792.893.794.292.892.892.593.794.293.493.594.193.093.093.292.093.093.691.991.592.790.690.790.892.493.492.993.292.992.593.294.693.995.696.096.893.894.294.296.195.494.996.796.895.897.897.795.795.696.395.8

Personalconsump-

tionexpend-

itures

94.5102.196.294.787.976.174,874.480.290.695.993.094.992.691.491.491.292.092.590.990.990.791.892.191.391.491.890.790.590.889.690.591.089.489.090.288.288.388.690.291.190.590.690.390.090.792.091.192.693.093.891.391.691.493.192.491.993.793.892.994.994.892.892.793.493.0

Personalsaving

3.2^3.6

2.64.0

10.923.224.625.119.28.63.15.93,96.17.37.37.26.35.87.27.27.56.35.86.66.55.97.07.06.88.07.06.48.18.57.39.49.39.27.66.67.16.87.17.56.85.4S.I4.44.03.26.25.85.83.94.65.13.33.24.22.22.34.34.43.74.2



TABLE B-27.—Total and per capita disposable personal income and personal consumption expenditures in

current and 1982 dollars, 1929-88

[Quarterly data at seasonally adjusted annual rates, except as noted]

Year or quarter

1929.19331939194019411942....19431944194519461947194819491950 ..1951195219531954195519561957....19581959..I960 ... .19611962196319641965..19661967 *1968196919701971197219731974197519761977.. .19781979198019811982198319841985...198619871982: IV1983: IV .1984: IV1985- IV1986: 1

tlf||IV

1987- 1||IIIIV

1988: 1||III

Disposable personal income

Total (biffions ofdollars)

Currentdollars

81.744.969.775.091.9116.4132.9145.6149.2158.9168.8188.1187.9207.5227.6239.8255.1260.5278.8297.5313.9324.9344.6358.9373.8396.2415.8451.4486.8525.9562.1609.6656.7715.6776.8839.6949.8

1,038.41,142.81,252.61,379.31,551.21,729.31,918.02,127.62,261.42,428.12,668.62,838.73,019.63,209.72,318.12,527.92,728.62,899.52,965.13,016.33,032.43,064.73,143.93,154.13,224.93,315.83,375.63,421.53,507.5

1982dollars

498.6370.8499.5530.7604.1693.0721.4749.3739.5723.3694.8733.1733.2791.8819.0844.3880.0894.0944.5989.4

1,012.11,028.81,067.21,091.11,123.21,170.21,207.31,291.01,365.71,431.31,493.21,551.31,599.81,668.11,728.41,797.41,916.31,896.61,931.72,001.02,066.62,167.42,212.62,214.32,248.62,261.52,331.92,469.82,542.82,640.92,686.32,276.12,392.72,496.32,562.82,614.52,655.92,643.92,649.42,679.62,652.82,683.92,728.92,762.32,762.22,800.4

Per capita(dollars)

Currentdollars

671357532568689863972

1,0521,0661,1241,1711,2831,2601,3681,4751,5281,5991,6041,6871,7691,8331,8651,9461,9862,0342,1232,1972,3522,505

, 2,6752,8283,0373,2393,4893,7404,0004,4814,8555,2915,7446,2626,9687,6828,4219,2439,72410,34011,25711,86112,49613,1579,92910,72511,46712,06812,31512,49912,53412,63512,93412,94713,20413,54313,76013,91914,231

1982dollars

4,0912,9503,8124,0174,5285,1385,2765,4145,2855,1154,8205,0004,9155,2205,3085,3795,5155,5055,7145,8815,9095,9086,0276,0366,1136,2716,3786,7277,0277,2807,5137,7287,8918,1348,3228,5629,0428,8678,9449,1759,3819,7359,8299,7229,7699,7259,93010,41910,62510,92911,0129,74910,15110,49110,66710,85811,00610,92810,92311,02410,88910,98911,14511,26011,23711,362


Total (billions ofdollars)

Currentdollars

77.345.867.071.080.888.699.5108.2119.6143.9161.9174.9178.3192.1208.1219.1232.6239.8257.9270.6285.3294.6316.3330.7341.1361.9381.7409.3440.7477.3503.6552.5597.9640.0691.6757.6837.2916.5

1,012.81,129.31,257.21,403.51,566.81,732.61,915.12,050.72,234.52,430.52,629.02,807.53,012.12,117.02,315.82,493.42,700.42,739.02,772.12,842.82,876.02,921.72,992.23,058.23,076.33,128.13,194.63,261.2

1982dollars

471.4378.7480.5502.6531.1527.6539.9557.1592.7655.0666.6681.8695.4733.2748.7771.4802.5822.7873.8899.8919.7932.9979.4

1,005.11,025.21,069.01,108.41,170.61,236.41,298.91,337.71,405.91,456.71,492.01,538.81,621.91,689.61,674.01,711.91,803.91,883.81,961.02,004.42,000.42,024.22,050.72,146.02,249.32,354.82,455.22,521.02,078.72,191.92,281.12,386.92,415.12,440.92,478.62,486.22,490.22,516.62,545.22,531.72,559.82,579.02,603.8

Per capita(dollars)

Currentdollars

634365511538606657727782855

1,0181,1231,1931,1951,2671,3491,3961,4581,4771,5601,6081,6661,6921,7861,8291,8571,9402,0172,1332,2682,4282,5342,7522,9493,1213,3303,6093,9504,2854,6895,1785,7076,3046,9607,6078,3208,8189,51610,25310,98511,61812,3479,0689,82510,47911,24011,37511,48711,75011,85712,02012,28212,52112,56412,75112,99613,232

1982dollars

3,8683,0133,6673,8043,9813,9123,9494,0264,2364,6324,6254,6504,6614,8344,8534,9155,0295,0665,2875,3495,3705,3575,5315,5615,5795,7295,8556,0996,3626,6076,7307,0037,1857,2757,4097,7267,9727,8267,9268,2728,5518,8088,9048,7838,7948,8189,1399,4899,84010,16010,3348,9049,2999,5879,93510,03010,11510,24510,25010,24510,33010,42110,34010,43510,49210,564

Popula-tion(thou-sands) i

121,878125,690131,028132,122133,402134,860136,739138,397139,928141,389144,126146,631149,188151,684154,287156,954159,565162,391165,275168,221171,274174,141177,073180,760183,742186,590189,300191,927194,347196,599198,752200,745202,736205,089207,692209,924211,939213,898215,981218,086220,289222,629225,106227,754230,182232,549234,829237,051239,322241,650243,944233,466235,707237,946240,257240,784241,324241,936242,557243,077243,618244,236244,845245,318245,806246,469

1 Population of the United States including Armed Forces overseas; includes Alaska and Hawaii beginning 1960. Annual data are forJuly 1 through 1958 and are averages of quarterly data beginning 1959. Quarterly data are averages for the period.

Source: Department of Commerce (Bureau of Economic Analysis and Bureau of the Census).


TABLE B-28.—Gross saving and investment, 1929-88


Year orquarter

1929193319391940194119421943194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983: IV1984- IV1985- IV .1986- 1

IIIl lIV

1987- 1IIIllIV

1988- 1IIIll

Gross saving

Total

15.96

8.913.618810.95.83.05.9

35.742.550.836.552.558.752.351.051.668.477.377.164.580.584.282.691.498.7

108.5123.5130.3129.5139.7158.8154.7171.9200.7251.9247.9238.7283.0335.4408.6458.4445.0522.0446.4463.6568.5533.5537.2560.4387.4519.9557.8520.3571.2537.5517.7522.5539.2542.4556.8603.4627.0634.1665.4

Gross private saving

Total

14.91.9

11.114.322642.350.054.945.430.328.142.439.944.552.656.158.058.865.272.176.177.182.181.186.895.297.9

110.8123.0131.6143.8145.7148.9164.5190.6203.4244.0254.3303.6321.4354.5409.0445.8478.4550.5557.1592.2673.5665.3681.6665.3554.2632.8679.9666,3702.5711.8661.1651.0679.8625.0642.2714.1726.3711.2732.9

Per-sonalsav-ing

2.6-1.6

1.83.0

10027.032.736.528.713.65.2

11.17.4

12.616.617.418.416.416.021.322,724.321.820,824.925.924.631.534.336.045.142.542.257.766.361.489.096.7

104.695.890.7

110.2118.1136.9159.4153.9130.6164.1125.4121.7104.2143.1145.4157.3111.7136.9154.198.896.8

130.869.572.6

144.0149.9127.8145.7

Grossbusi-nesssav-ing1

12.3369.3

11.312615.317.318.416.816.723.031.332.531.836.038.739.642.349.250.853.552.960.360.362.069.373.379.388.795.698.6

103.3106.7106.7124.3142.0155.0157.6198.9225.6263.8298.9327.7341.5391.1403.2461.6509.5539.9560.0561.1411.1487.3522.6554.5565.6557.7562.3554.3549.0555.5569.6570.1576.3583.3587.3

Governmeri \ na( — ;, na

proc

Total

1.0-1.4-2.2-.738

-31.4-44.2-51.8-39.5

5.414.48.4348.06.1

-3.8-7.0-7.1

3.15.2

.9-12.6-1.6

3.1-4.3-3.8

.7-2.3

.5-1.3

-14.2-6.0

9.9-10.6-19.5-3.4

7.9-4.3

-64.9-38.4,= 19.1

-.411.5

-34.5-29.71108

-128.6-105.0-131.8-144.4

1049-166.8-112.9-122.1

1459-131.4-174.3-143.5-128.5-140.6-82.6-85.5

-110.7-99.2-77.1-67.5

t surplus or deficit:ional income anduct accounts

Federal

1.2= 13=2.2-1.3

51331

-46.6-54.5-42.1

3.513.48.3

-2.69.26.537

-7.1-6.0

4.46.12.3

-10.3= 1.1

3.0-3.9

4 2!3

-3.3

-L8-13.2-6.0

8.4124

-22'.0168

=5.6-11.6

694-53.5-46.0

293-16.1

613-63^8

-145.9-176.0-169.6-196.9-205.6-157.8

2026-169.2-187.5-212.2

1986-234*.4-206.1-183.3-188.3-144.0-138.3

1604155 1

-133.3-123.5

Stateandlocal

=0.2-.1

.0

.6131.82.42.72.61.91.0.1

-1.2-.4

.0

.1-1.1-1.3-.9

-1.4= 2.4-.4

-A.5

LO.0

-LI

L51.82.6

13.513.57.24.5

15.226.928.927.626.834.135.147.564.665.161.252.935.856.465.466.367.260.162.754.847.761.452.949.755.856.256.0

Capitalgrants

receivedby theUnitedStates(net) 2

0.9.7.7

04 -2.0.00001.11.21.1000000000000000000000

Gross investment

Total

17.41.7

10.615.019.510.24.15.8

10.036.444.349.637.353.261.454.253.654.370.275.475.964.579.081.481.391.598.1

107.1122.3132.4129.2138.6154.9153.6173.7199.1247.6246.2241.2286.6335.3406.7457.4450.0526.1446.3468.8573.9528.7523.6552.3394.2522.4555.7512.4559.1527.9504.0503.2530.6539.9541.7597.0612.0629.0651.4

Grossprivatedomes-

ticinvest-ment

16.71.69.5

13.418.310.36.27.7

11.331.535.047.136.555,160.553.554.954.169.772.771.163.680.278.277.187.693.199.6

116.2128.6125.7137.0153.2148.8172.5202.0238.8240.8219.6277.7344.1416.8454.8437.0515.5447.3502.3664.8643.1665.9712.9409.6579.8661.8654.1686.6667.8653.0656.4685.5698.5702.8764.9763.4758.1772.5

Netforeigninvest-ment3

0.8

LO1.51.3

-!'.!-2.0-1.3

4.99.32.4

.9-1.8

.9

.6-1.3

.2

2^84.8.9

-1.23.24.23.84.97.56.23.83.51.61.74.81.3

-2.98.85.4

21.69.0

-8.7-10.1

2.613.010.6

-LO-33.5-90,9

-114.4-142.4-160.6-15.4-57.4

-106.1-141.6-127.4-139.8-149.0-153.3-154.8-158.6-161.1-167.8-151.3-129.1-121.1

Statis-tical

discrep-ancy

1.51.21.71.4.7

-.7-1.7

2.74.0

.71.8

-1.3.8.8

2.71.82.62.71.8

-1.9-1.2-.1

-1.528

-1.2,0

-.6-1.4-1.2

2.1-.4

-1.1-3.9-1.1

1.8-1.6-4.3-1.7

2.53.6

.0-1.9-LO

4.94.1

15.25.4

-4.8-13.6-8.1

6.82.5

-2.1-7.9

-12.0-9.5

-13.6-19.4-8.5-2.5

-15,1-6.4

-15.051

-14.01 Undistributed corporate profits with inventory valuation and capital consumption adjustments, corporate and noncorporate capital

consumption allowances with capital consumption adjustment, and private wage accruals less disbursements.2 Allocations of special drawing rights (SORs), except as noted in footnote 4.3 Net exports of goods and services less net transfers to foreigners and interest paid by government to foreigners plus capital grantsreceived by the United States, net.4 In February 1974, the U.S. Government paid to India $2,010 million in rupees under provisions of the Agricultural TradeDevelopment and Assistance Act. This transaction is being treated as capital grants paid to foreigners, i.e., a -$2.0 billion entry incapital grants received by the United States, net.



TABLE B-29.—Saving by individuals, 1946-881


Year orquarter

1946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

19801981198219831984198519861987

1986: 1II ....Ill ...IV...

1987: 1

Ill""IV...

1988: 1

Ill""

Total

24.919.425.922.2

30.835.132.332.927.436.638.337.234.737.2

38.037.043.247.457.865.173.679.582.072.7

89.499.4

119.2157.4122.4162.0162.9187.6200.2203.0

203.4246.0264.7309.7372.0323.3343.6354.4

336.3288.2376.8373.3

308.1336.7314.4458.5

422.5377.3423.3

Increase in financial assets

Total

19.512.59.8

10.4

13.919.025.123.321.329.031.628.032.234.9

33.435.639.846.156.158,158,070.574.165.8

80.5105.3134.9148.4149.5179.3205.0250.7287.1325.6

320.3320.5380.3480.4540.8543.8514.2480,6

466.2435.1578.6576.9

373.4532.1473.3543.7

485.3498.0564.9

Check-able

depos-itsandcur-

rency

5.6,1

-2.9-2.0

2,64.61.61.02.21,21.8

-.43,8

.8

1.0-.9

-1.24.25.37.62.49.9

11.1-2.5

8.912.313.613.36.56.1

15.619.722.435.7

8.935.225.834.426.735J94.116.4

62.590.863.4

159.6

-67.263.555.114.5

5.859.45.5

Timftlimeandsav-ingsde-

posits

6.33,42,22.6

2.54.87,88.29.28.69.5

12,013.911.1

12.118.326.126.326.227.919.235.331.09.0

43.267.673.863.356.077.6

107.1106.699.274.7

124.972.1

118.3198.8221.5125.7101.598.6

129.085.4

129.362.5

20.380.392.0

202.0

199.2130.5177.4

Moneymarket

fundshares

2.41.3.0

-.26.0

30.6

24.590.732.8

-31.144.012-134.228.9

38.845.856.1

-3.8

13.83.5

36.162.2

50.8-28.8

13.2

Securities

Govern-ment

securi-ties*

-1.5.5

1.92.1

-.2-.53.82.32

6.94.42.9

-2.98.8

2.81.01.1-.15.13,3

10.8-2.0

4.825.8

-5.9-11.22

19.Z21.022.33.9

12.631.165.3

27.546.168.991.7

112.2120.1

-22J131.4

-72.3-80.4

32.429.7

60.6209.6125.9129.6

104.062.6

178.8

Corpo-rateequi-ties3

1.21.11.0.7

.71.81.51.0.7

1.12.01.51.8.6

.01.1

-1.4-1.6-.3

-1.63 3

-6^2-2.2

-.7-4.3-8.8-4.3-2,1-6.2-.5

-7.3-12.5-25.5

-9.9-36.6-11.9

1.1-51.7-35.0

26.1-19.8

61.218.72.8

21.8

104.4-86.5-56.7-40.5

-40.3-128.5-77.0

Othersecuri-ties*

-0.8-.7

.1-.2

-.7.3.0.5

-.811.01.1.8

1.0-.2

2.3-.2-.41.3

.3;

.82.45.27.8

10.0

6.96.7

-1.08.5

12.7-3.9

5.715.411.14.1

-9.6-13.8-23.1-2.6-6.241.521.011.2

9.059.3

-5.521.2

5.43.53.3

32.6

-108.0130.210.0

Insur-anceand

pensionre-

serves8

5.15.45.35.6

6.16.37.77.97.88.59.59.5

10.411.9

11.512.113.0;13.916,417.019.318.819.921.8

24,228.048.539.943.771.956.678.695.0

101.8

118.5117.9148.0159.2157.7185.6192.7196.4

162.4169.5245.4193.3;

205.6245.6178.9155.5

248.4228.9192.0

Otherfinan-cialas-

sets8

3.72.62.11.6

2.91.62.82.42.01.73.41.94.31.9

3.74.32.52.13.13.14.16.75.73.9

3.96.29.28.49.3

10.116.625.434.938.8

35.48.8

21.328.936.658.167.217.4

75.546.154.592.6

30.612.738.6

-12.2

25.343.765.1

Net investment in 7

Owner-occu-pied

homes

3.87.09.58.7

12.112.111.712.713.117.316.213.812.817.0

15.713.514.015.515.715.314.512.617.017.2

14.622.329.233.127.927.541,961.077.886.7

66.659.735.676.295.497.1

118.8135.4

113.6115.2117.6129.2

137.9128.1138.8137.2

143.2143.6148.0

Con-sumerdura-bles

6.79.4

10.210.9

14.911.48.7

10.37.0

12.78.87.93.77.7

7.3"4.58.6

11.915.120.223.221.326.926.2

19.925.734.841.229.928.442.953.358.854.0

31.937.437.262.798.8

117.6126.0116.5

109.0115.7146.9132.2

107.1117.3132.6109.0

120.5128.3126.0

Mnnnon-cor-

poratebusi-nessas-

sets*

2.01.36.92,0

7.24.41.9.8

1.72.91.02.12.94.3

3.24.97.09.28.8

12.49.9

10.710.013.3

13.119.526.631.914.97.52.7

15,218.912.4

-6.219.5

-4.0-11.6

14.41.06.5

-9.5

4.314.39.3

-1.9

-13.4-.2

r!5.8-8.8

.0-3.0-7.4

Less: Net increase indebt

Mnr+Mort-

SRon

non-farm

homes

4.04.94.84.4

7.16.66.47.69.0

12.311.08.89.6

12.9

11.412.313.916.617.417.113.412.917.218.3

13.526.238.844.234.638.860.891.5

109.4117.1

96.473.852.9

120.4136.7157.0210.9221.2

149.3192.8258.2243.3

224.8242.5211.8205.9

178.2228.1210.4

Con-sumercredit

2.93.53.13.1

4.61.45.24.11.47.03.62.6.3

7.7

4.02.25.98.59.5

10.15.95.1

10.810.1

4.614.119.023.09.08.0

22.936.745.140,5

2.616.916.449.081.682.554.440.7

55.160.359.542.8

-.352.461.449.4

34.859.543.3

Otherdebt89

0.22.42.62.3

5.73.83.52.55.36.14.63.26.96.1

6.17.06.4

10.111.113.712,517.618.121.5

20.633.248.430,056.233.945.964.487.9

118.2

110.2100.4115.1128.6159.1196.7156.5106.7

152.4138.9157.9176.9

72.3145.8141,467.1

113.5102.0154.4

1 Saving by households, personal trust funds, nonprofit institutions, farms, and other noncorporate business.2 Consists of U.S. savings bonds, other U.S. Treasury securities, U.S. Government agency securities and sponsored agency securities,mortgage pool securities, and State and local obligations.3 Includes mutual fund shares.4 Corporate and foreign bonds and open-market paper.6 Private life insurance reserves, private insured and n on insured pension reserves, and government insurance and pension reserves.

• Consists of security credit, mortgages, accident and health insurance reserves, and nonlife insurance claims for households and ofconsumer credit, equity in sponsored agencies, and nonlife insurance claims for noncorporate business.7 Purchases of physical assets less depreciation.8 Includes data for corporate farms.9 Other debt consists of security credit, policy loans, and noncorporate business debt

Source: Board of Governors of the Federal Reserve System.

341


TABLE B-30.—Number and median income (in 1987 dollars) of families and persons, and poverty status,

by race, selected years, 1965-87

Year

ALL RACES19651966 3

19671968196919701971197219731974 3

19751976197719781979 4.198019811982 .1983 3

1984198519861987

WHTTE197019711972 .19731974 3

19751976197719781979 4

1980198119821983 3

1984198519861987 .

BLACK19701971197219731974 3

19751976197719781979 4

1980198119821983 3

1984198519861987 . .

Families '

Num-ber

(mil-lions)

48.549.250.150,851.652.253.354.455.155.756.256.757.257.859.660,361.061.462.062.763.664.565.1

46.547.648.548.949.449.950.150.550.952.252.753.353.453.954.455.055.756.0

4.95.25.35.45.55.65.85.85.96.26.36.46.56.76.86.97.17.2

Medianincome

$25,06026,37727,00428,19929,24428,88028,86230,19930,82029,73528,97029,86330,02530,73030,66928,99627,97727,59128,14728,92329,30230,53430,853

29,96029,94831,37532,21130,90130,12931,01931,39631,99832,00330,21129,38828,96929,47430,29430,79931,93532,274

18,37818,07218,64718,59018,45118,53818,45117,93518,95218,12217,48116,57816,01116,61016,88417,73418,24718,098

Below poverty level

Total

Num-ber

(mil-lions)

6.75.85.75.05.05.35,35.14.84.95.55.35.35.35.56.26.97.57.67.37.27.07.1

3.73.83.43.23.43.83.63.53.53.64.24.75.15.24.95.04.84.6

1.51.51.51.51.51.51.61.61.61.71.82.02.22.22.12.02.02.1

Rate

13.911.811.410.09.7

10.110.09.38.88.89.79.49.39.19.2

10.311.212.212,311.611.410.910.8

8.07.97.16.66,87.77.17.06.96.98.08.89.69.79,19.18.68.2

29.528.829,028.126.927.127.928.227.527.828.930.833.032.330.928.728.029.9

Femalehouseholder

Num-ber

(mil-lions)

1.91.71.81.81.82.02.12.22.22.32.42.52.62.72.63.03.33.43.63.53.53,63.6

1.11.21.11.21.31.41.41.41.41.41.61.81.81.91.92.02.01.9

.8

.91.01.01.01.01.11,21.21.21.31.41.51.51.51.51,51.6

Rate

38.433.133.332.332.732.533.932.732.232.132.533.031.731.430.432.734.636.336.034.534.034.634.3

25.026.524.324.524.825.925.224.023.522.325.727.427.928.327.127.428.226.7

54.353.553.352.752.250.152.251.050.649.449.452.956.253.751.750.550.151.8

Personsbelow

poverty level

Num-ber

(mil-lions)

33.228.527.825.424.125.425.624.523.023.425.925.024.724.526.129.331.834.435.333.733.132.432.5

17.517.816.215.115.717.816.716.416.317.219.721.623.524.023,022.922.221,4

7.57.47.77.47.27.57.67.77.68.18.69.29.79.99.58.99.09.7

Rate

17.314.714.212.812.112.612.511.911.111.212.311.811.611.411.713.014.015.015.214.414.013.613.5

9.99.99.08.48.69.79.18.98.79.0

10.211.112.012.111.511.411.010.5

33.532.533.331.430.331.331.131.330.631.032.534.235.635.733.831.331.133.1

Median income of persons 15 years oldand over with income 2

Males

Allpersons

$18,09318,58218,90219,53519,93119,52319,37220,23920,60319,47918,69518,81918,98619,05018,44317,28216,83616,42516,72517,06917,23217,73917,752

20,52120,30921,22821,61820,40619,63819,83919,88619,95219,26718,38317,86517,36517,59518,01818,07818,72018,854

12,16712,11212,85813,07612,37611,74111,94511,80111,95211,92711,04610,62310,40610,22910,33811,37611,21711,101

Year-round

ful l - t imeworkers

$23,76724,35824,81225,52726,87226,88127,02728,62829,32928,02927,31227,66928,26327,98127,36826,44425,85825,49825,67426,26526,41126,84026,722

27,65127,78829,66130,17828,57527,94428,49328,84128,50128,15927,19926,46526,17726,35927,16527,14427,59027,468

18,83519,00120,03020,34020,06220,79620,40819,88421,82920,29419,13818,72418,59118,79418,53918,98619,45219,385

Females

Allpersons

$5,4795(7366,1316,5966,6106,5486,7577,0617,1517,1037,1487,1397,3917,0876,8146,7866,8206,9327,3077,5157,6257,8888,101

6,6326,8707,1077,2207,1847,2227,1997,5047,1726,8786,8236,8977,0267,4347,6037,7738,0448,279

6,0386,0196,6406,5166,4676,5616,7846,4806,4586,2606,3176,1276,1976,3236,7456,6326,8066,796

Year-round

full-timeworkers

$13,74814,09814,29014,92315,74015,92215,99916,44416,59316,53416,30016,59516,53116,79516,48915,98715,56716,08716,52816,87517,17017,45817,504

16,20316,18416,76716,87416,67516,33816,72316,63516,95416,63316,14115,82716,30416,74817,04217,41317,72617,775

13,27614,29014,34414,30914,68315,60915,63415,54815,71415,24115,05514,29314,57214,86715,35815,41415,51016,211

'The term "family" refers to a group of two or more persons related by blood, marriage, or adoption and residing together; all suchpersons are considered members of the same family. Beginning 1979, based on householder concept and restricted w primary families.

2 Prior to 1979, data are for persons 14 years and over.3 Based on revised methodology; comparable with succeeding years.4 Based on 1980 census population controls; comparable with succeeding years.Note.=The poverty level is based on the poverty index adopted by a Federal interagency committee in 1969. That index reflected

different consumption requirements for families based on size and composition, sex and age of family householder, and farm-nonfarmresidence. Minor revisions implemented in 1981 eliminated variations in the poverty thresholds based on two of these variables, farm-nonfarm residence and sex of householder. The poverty thresholds are updated every year to reflect changes in the consumer priceindex. For further details, see "Current Population Reports," Series P-60, No. 160.

Source: Department of Commerce, Bureau of the Census.


POPULATION, EMPLOYMENT, WAGES, AND PRODUCTIVITY

TABLE B-31.—Population by age groups, 1929-88

[Thousands of persons]

July 1

1929

1933

1939

19401941194219431944

19451946 ...194719481949

19501951195219531954

19551956195719581959

19601961196219631964

196519661967. ...19681969

19701971197219731974

197519761977 . . .19781979

19801981198219831984

1985198619871988

Total

121,767

125 579

130,880

132,122133,402134,860136,739138,397

139 928141,389144 126146,631149,188

152,271154,878157,553160,184163,026

165,931168 903171,984174 882177,830

180,671183 691186,538189,242191 889

194 303196,560198712200 706202 677

205 052207 661209,896211 909213854

215,973218,035220 239222 585225 055

227,757230 138232 520234 799237,001

239,279241 613243 915246 113

Under 5

11,734

10612

10,418

10,5791085011,3011201612 24

1297913,24414 40614,91915,607

16,41017,33317,31217,63818,057

18,5661900319,49419 88720,175

20,3412052220,46920,34220165

1982419,208185631791317376

17 1661724417*1011685116487

16,1211561715*5641573516063

16,4581693117*2981765117,830

18,0041815218252

5-15

26800

26897

25,179

24,8112451624.2312409323*949

2390724,1032446825,20925,852

26,72127,27928,89430,22731,480

32,6823399435,2723644537,368

38,4943976541,2054162642297

4293843702442444462244840

448164459144*20343*582

4250842*09941*2984042839552

3884438*19037*8773766837,657

37,6913770637*685

16-19

9127

9302

9,822

9.89598409*73096079*561

93619,11990978,9528,788

8,5428,4468,4148,4608,637

8,74489169,195 !954310,215

10,6831102511,1801200712736

1351614*311142001445214*800

1528915*68816*0391644616769

1701717*19417*2761/28817242

17,1601677116*2551570415,141

14,8191480214*958

Age (years)

20-24

10694

11152

11,519

11,69011,80711,95512,06412,062

1203612,0041181411,79411,700

11,68011,55211,35011,06210,832

10,7141061610,6031075610,969

11,1341148311,9591271413*269

1374614,050152481578616*480

17202181591815318*52118975

19,52719 98620*49920*94621*297

21,58421,8212180721*70021*536

21,21420,60819984

25-44

35,862

37319

39,354

39,86840,38340,86141,42042,016

4252143,0274365744,28844,916

45,67246,10346,49546,78647,001

47,19447,37947,44047,33747,192

47,14047,08447,01346,99446958

4691247,001471944772148064

48,4734893650,48251,74953051

54,30255,85257,56159,40061379

63,49465,61967,85669,97172,049

74,07776,12477,897

45-64

21076

22933

25,823

26,24926,71827,19627,67128,138

2863029,0642949829,93130,405

30,84931,36231,88432,39432,942

33,50634,05734,59135,10935,663

36,20336,72237,25537,78238338

38,91639,534401934084641,437

41,9994248242*,89843,23543522

43,80144,00844,15044,28644,390

44,51544,56944,60244,68044,818

44,93445,05545,303

65 andover

6474

7363

8,764

9,0319,2889,5849,86710,147

1049410,82811 18511,53811,921

12,39712,80313,20313,61714,076

14,52514,93815,38815,80616,248

16,67517,08917,45717,77818,127

18,45118,75519,0711936519,680

20,1072056121,02021,52522,061

22,69623,27823,89224,50225,134

25,70426,23526,82527,42627,971

28,54029,16729,835

Note.—Includes Armed Forces overseas beginning 1940. Includes Alaska and Hawaii beginning 1950.Source: Department of Commerce, Bureau of the Census.

343


TABLE B-32.—Population and the labor force, 1929-88

[Monthly data seasonally adjusted, except as noted]

Year or month

192919331939...

19401941194219431944

19451946 . .1947

194719481949

1950195119521953 8195419551956195719581959

I96061961196261963196419651966196719681969

197019711972°197361974197519761977197861979 ...19801981198219831984 .19851986°19871984- Jan

FebMarAprMayJune

JulyAugSeptOctNovDec

Civiliannoninsti-tutionalpopula-tion1

Resi-dentArmedForces *

Laborforceinclud-ing

residentArmedForces

Employ-ment

includ-ing

residentArmedForces

Civil an labor force

Total

Employment

TotalAgri-cul-tural

Non-agri-

cultural

Un-em-ploy-ment

Thousands of persons 14 years of age and over

9984099,90098,64094,64093,220

94,090103,070106,018

49,18051,59055,230

55,64055,91056,41055,54054,630

53,86057,52060,168

47,63038,76045,750

47,52050,35053,75054,47053,960

52,82055,25057,812

10,45010,0909,610

9,5409,1009,2509,0808,950

8,5808,3208,256

37,18028,67036,140

37,98041,25044,50045,39045,010

44,24046,93049,557

1,55012,8309,480

8,1205,5602,6601,070670

1,0402,2702,356


101 827103i068103 994

104,995104,621105,231107,056108,321109,683110,954112,265113,727115,329

117,245118,771120,153122,416124,485126,513128,058129,874132,028134,335

137,085140,216144,126147,096150,120153,153156,150159,033161,910164,863

167,745170,130172,271174,215176,383178,206180,587182,753

175,533175,679175,824175,969176,123176,284

176,440176,583176,763176,956177,135177,306

1,1692,1432,3862,2312,1422,0641,9651,9481,8471,7881,8611,9002,0612,0062,0181,9462,1222,2182,2532,238

2,1181,9731,8131,7741,7211,6781,6681,6561,6311,5971,6041,6451,6681,6761,6971,7061,7061,737

1,6861,6841,6861,6931,6901,6901,6981,7121,7201,7051,6991,698

63,37764,16064,52465,24665,78567,08768,51768,87769,48670,157

71,48972,35972,67573,83975,10976,40177,89279,56580,99082,972

84,88986,35588,84791,20393,67095,45397,826100,665103,882106,559

108,544110,315111,872113,226115,241117,167119,540121,602

113,899114,314114,397114,822115,310115,521

115,645115,404115,556115,720115,884116,268

60,08762,10462,63663,41062,25164,23465,76466,01964,88366,418

67,63967,64668,76369,76871,32373,03475,01776,59078,17380,140

80,79681,34083,96686,83888,51587,52490,42093,67397,679100,421

100,907102,042101,194102,510106,702108,856111,303114,177

104,883105,511105,659106,058106,849107,300

107,127106,879107,198107,339107,684107,910

59,35060,62161,286

62,20862,01762,13863,01563,64365,02366,55266,92967,63968,369

69,62870,45970,61471,83373,09174,45575,77077,34778,73780,734

82,77184,38287,03489,42991,94993,77596,15899,009102,251104,962

106,940108,670110,204111,550113,544115,461117,834119,865

112,213112,630112,711113,129113,620113,831

113,947113,692113,836114,015114,185114,570

57,03858,34357,651

58,91859,96160,25061,17960,10962,17063,79964,07163,03664,630

65,77865,74666,70267,76269,30571,08872,89574,37275,92077,902

78,67879,36782,15385,06486,79485,84688,75292,01796,04898,824

99,303100,39799,526100,834105,005107,150109,597112,440

103,197103,827103,973104,365105,159105,610

105,429105,167105,478105,634105,985106,212

7,8907,6297,658

7,1606,7266,5006,2606,2056,4506,2835,9475,5865,565

5,4585,2004,9444,6874,5234,3613,9793,8443,8173,606

3,4633,3943,4843,4703,5153,4083,3313,2833,3873,347

3,3643,3683,4013,3833,3213,1793,1633,208

3,2963,3543,2343,3093,3193,377

3,3403,2953,3883,1953,4003,387

49,14850,71449,993

51,75853,23553,74954,91953,90455,72257,51458,12357,45059,065

60,31860,54661,75963,07664,78266,72668,91570,52772,10374,296

75,21575,97278,66981,59483,27982,43885,42188,73492,66195,477

95,93897,03096,12597,450101,685103,971106,434109,232

99,901100,473100,739101,056101,840102,233

102,089101,872102,090102,439102,585102,825

2,3112,2763,637

3,2882,0551,8831,8343,5322,8522,7502,8594,6023,740

3,8524,7143,9114,0703,7863,3662,8752,9752,8172,832

4,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,425

9,0168,8038,7388,7648,4618,2218,5188,5258,3588,3818,2008,358

Unemploy-ment rate

Allwork-ers2

Civil-ian

work-ers a

Civil-ian

laborforce

fiaj:pationrate4

Civil-ianem-ploy-ment/pop-ula-tion

ratio5

Percent

5.23.22.92.85.44.34.04.26.65.35.46.55.45.55.04.43.73.73.53.4

4.85.85.54.85.58.37.66.96.05.87.07.59.59.57.47.16.96.17.97.77.67.67.37.17.47.47.27.27.17.2

3224917.2

14.69.94.71.91,2

1.93.93.9

3.93.85.9

5.33.33.02.95.54.44.14.36.85.5

5.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57,77,16.15.87.17.69.79.67.57.27.06.28.07.87.87.77.47.2

7.57.57.37.47.27.3

55.756.057.258.758.6

57.255.856.8

58.358.858.9

59.259.259.058.958.859.360.059.659.559.3

59.459.358.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.7

63.863.964.064.064.464.865.365.663.964.164.164.364.564.6

64.664.464.464.464.564.6

47.650.454.557.657.9

56.153.654.5

56.056.655.4

56.157.357.357.155.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.057.857,856.156.857.959.359.959.259.057,857.959.560.160.761.558.859.159.159.359.759.959.859.659.759.759.859.9


344


TABLE B-32.—Population and the labor force, 1929-88—Continued

[Monthly data seasonally adjusted, except as noted]

Year or month

1985- JanFebMarAprMayJuneJulyAugSeptOctMovDec

1986: Jan 6

FebMar

May"!!!!!!!!!!JuneJulvAugSeptOctNovDec

1987: JanFebMarAprMayJuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJulyAugSeptOctNov

Civiliannoninsti-tutionalpopula-tion '

Resi-dent

ArmedForces *

Laborforce

includ-ing

residentArmedForces

Employ-ment

includingresidentArmedForces

Civilian labor force

Total

Employment

Total »turat


177,384177,516177,667177,799177,944178,096178,263178,405178,572178,770178,940179,112179,670179,821179,985180,148180,311180,503180,682180,828180,997181,186181,363181,547181,827181,998182,179182,344182,533182,703182,885183,002183,161183,311183,470183,620183,822183,969184,111184,232184,374184,562184,729184,830184,962185,114185,244

1,6971,7031,7011,7021,7051,7021,7041,7261,7321,7001,7021,6981,6911,6911,6931,6951,6871,6801,6721,6971,7161,7491,7511,7501,7481,7401,7361,7351,7261,7181,7201,7361,7431,7411,7551,7501,7491,7361,7361,7321,7141,6851,6731,6921,7041,6871,705

116,457116,606117,012117,040116,916116,723116,993117,037117,613117,787117,857118,017118,442118,642118,876119,029119,168119,792119,787119,847120,061120,173120,422120,326120,726120,970120,982121,098121,633121,326121,610122,042121,706122,128122,349122,472122,924123,084122,639123,055122,692123,157123,357123,723123,628123,699124,277

107,993108,276108,691108,644108,612108,309108,513108,851109,367109,488109,702109,861110,595110,215110,546110,656110,724111,351111,509111,732111,763111,943112,208112,407112,762113,084113,191113,541114,060114,018114,359114,786114,615114,951115,259115,494115,878116,145115,839116,445115,909116,703116,732116,872117,032117,208117,681

114,760114,903115,311115,338115,211115,021115,289115,311115,881116,087116,155116,319116,751116,951117,183117,334117,481118,112118,115118,150118,345118,424118,671118,576118,978119,230119,246119,363119,907119,608119,890120,306119,963120,387120,594120,722121,175121,348120,903121,323120,978121,472121,684122,031121,924122,012122,572

106,296106,573106,990106,942106,907106,607106,809107,125107,635107,788108,000108,163108,904108,524108,853108,961109,037109,671109,837110,035110,047110,194110,457110,657111,014111,344111,455111,806112,334112,300112,639113,050112,872113,210113,504113,744114,129114,409114,103114,713114,195115,018115,059115,180115,328115,521115,976

3,3313.3253,2603,3193,2383,1473,1343,1413,0593,0593,0733,1473,3073,0973,2133,1683,0993,1763,1273,1063,1643,1423,2333,1533,1743,2253,2373,2503,2693,1923,2123,1433,1843.2493,1723,2153,2933,2283,2043,2283,0353,0853,0463,1513,1693,2663,276

Non-agri-

cultural

102,965103,248103,730103,623103,669103,460103,675103,984104,576104,729104,927105,016105,597105,427105,640105,793105,938106,495106,710106,929106,883107,052107,224107,504107,840108,119108,218108,556109,065109,108109,427109,907109,688109,961110,332110,529110,836111,182110,899111,485111,160111,933112,014112,029112,158112,255112,700

Un-em-

ploy-ment

8,4648,3308,3218,3968,3048,4148,4808,1868,2468,2998,1558,1567,8478,4278,3308,3738,4448,4418,2788,1158,2988,2308,2147,9197,9647,8867,7917,5577,5737,3087,2517,2567,0917,1777,0906,9787,0466,9386,8016,6106,7836,4556,6256,8516,5966,4916,595

Unemploy-ment rate

Atlwork-ers3

Civil-ian

work-ers3

Civil-ian

laborforcepar-tici-

pationrate4

Civil-ianem-ploy-

ment/pop-ula-tion

ratio5

Percent

7.37.17.17.27.17.27.27.07.07.06.96.96.67.17.07.07.17.06.96.86.96.86.86.66.66.56.46.26.26.06.05.95.85.95.85.75.75.65.55.45.55.25.45.55.35.25.3

7.47.27.27.37.27.37.47.17.17.17.07.06.77.27.17.17.27.17.06.97.06.96.96.76.76.66.56.36.36.16.06.05.96.05.95.85.85.75.65.45.65.35.45.65.45.35.4

64.764.764.964.964.764.664.764.664.964.964.964.965.065.065.165.165.265.465.465.365.465.465.465.365.465.565.565.565.765.565.665.765.565.765.765.765.966.065.765.965.665.865.966.065.965.966.2

59.960.060.260.160.159.959.960.060.360.360.460.460.660.460.560.560.560.860.860.960.860.860.961.061.161.261.261.361.561.561.661.861.661.861.961.962.162.262.062.361.962.362.362.362.462.462.6

1 Not seasonally adjusted.2 Unemployed as percent of labor force including resident Armed Forces.3 Unemployed as percent of civilian labor force.4 Civilian labor force as percent of civilian noninstitutional population.5 Civilian employment as percent of civilian noninstitutional population.6 Not strictly comparable with earlier data due to population adjustments as follows: Beginning 1953, introduction of 1950 census

data added about 600,000 to population and 350,000 to labor force, total employment and agricultural employment. Beginning 1960,inclusion of Alaska and Hawaii added about 500,000 to population, 300,000 to labor force, and 240,000 to nonagricultural employment.Beginning 1962, introduction of 1960 census data reduced population by about 50,000 and labor force and employment by 200,000.Beginning 1972, introduction of 1970 census data added about 800,000 to civilian noninstitutional population and 333,000 to laborforce and employment. A subsequent adjustment based on 1970 census in March 1973 added 60,000 fo labor force and to employment.Beginning 1978, changes in sampling and estimation procedures introduced into the household survey added about 250,000 to laborforce and to employment. Unemployment levels and rates were not significantly affected. Beginning 1986, the introduction of revisedpopulation controls added about 400,000 to the civilian population and labor force and 350,000 to civilian employment. Unemploymentlevels and rates were not significantly affected.

Note —Labor force data in Tables B-32 through B-41 are based on household interviews and relate to the calendar week includingthe 12th of the month. For definitions of terms, area samples used, historical comparability of the data, comparability with other series,etc., see "Employment and Earnings."

Source: Department of Labor, Bureau of Labor Statistics.

345


TABLE B-33-—Civilian employment and unemployment by sex and age, 1947-88

[Thousands of persons 16 years of age and over; monthly data seasonally adjusted]

Year or month

1947194819491950195119521953 '195419551956195719581959I960119611962 '196319641965196619671968196919701971.197211973119741975197619771978 '19791980198119821983198419851986 '19871987:Jan

FebMarAprfayJuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJulyAugSeptOctNov.

Civilian employment

Total

57,03858,34357,65158,91859,96160,25061,17960,10962,17063,79964,07163,03664,63065,77865,74666,70267,76269,30571,08872,89574,37275,92077,90278,67879,36782,15385,06486,79485,84688,75292,01796,04898,82499,303100,39799,526100,834105,005107,150109,597112,440111,014111,344111,455111,806112,334112,300112,639113,050112,872113,210113,504113,744114,129114,409114,103114,713114,195115,018115,059115,180115,328115,521115,976

Males

Total

40,99541,72540,92541,57841,78041,68242,43041,61942,62143,37943,35742,42343,46643,90443,65644,17744,65745,47446,34046,91947,47948,11448,81848,99049,39050,89652,34953,02451,85753,13854,72856,47957,60757,18657,39756,27156,78759,09159,89160,89262,10761,56261,69761,68861,81561,97761,98462,15062,34162,36862,46862,58162,65662,80863,05962,75963,32363,03063,41163,49063,42563,51263,41763,537

16-19years

2,2182,3442,1242,1862,1562,1072,1361,9852,0952,1642,1152,0122,1982,3612,3152,3622,4062,5872,9183,2533,1863,2553,4303,4093,4783,7654,0394,1033,8393,9474,1744,3364,3004,0853,8153,3793,3003,3223,3283,3233,3813,3423,3733,3083,2993,3043,3523,3673,5163,4013,4313,4173,4713,5213,4343,3523,4403,4393,6143,5373,5913,4893,4283,556

20yearsandover

38,77639,38238,80339,39439,62639,57840,29639,63440,52641,21641,23940,41141,26741,54341,34241,81542,25142,88643,42243,66844,29444,85945,38845,58145,91247,13048,31048,92248,01849,19050,55552,14353,30853,10153,58252,89153,48755,76956,56257,56958,72658,22058,32458,38058,51658,67358,63258,78358,82558,96759,03759,16459,18559,28759,62559,40759,88359,59059,79759,95459,83460,02459,98959,981

Females

Total

16,04516,61716,72317,34018,18118,56818,74918,49019,55120,41920,71420,61321,16421,87422,09022,52523,10523,83124,74825,97626,89327,80729,08429,68829,97631,25732,71533,76933,98935,61537,28939,56941,21742,11743,00043,25644,04745,91547,25948,70650,33449,45249,64749,76749,99150,35750,31650,48950,70950,50450,74250,92351,08851,32151,35051,34451,39051,16651,60751,56951,75551,81552,10452,439

16-19years

1,6911,6821,5881,5171,6111,6121,5841,4901,5471,6541,6631,5701,6401,7681,7931,8331,8491,9292,1182,4682,4962,5262,6872,7352,7302,9803,2313,3453,2633,3893,5143,7343,7833,6253,4113,1703,0433,1223,1053,1493,2603,1623,1623,1853,2303,3293,2283,2833,4013,2533,2623,2893,3383,3443,3453,2123,2203,2063,4383,3703,2883,3643,3333,286

20yearsandover

14,35414,93615,13715,82416,57016,95817,16417,00018,00218,76719,05219,04319,52420,10520,29620,69321,25721,90322,63023,51024,39725,28126,39726,95227,24628,27629,48430,42430,72632,22633,77535,83637,43438,49239,59040,08641,00442,79344,15445,55647,07446,29046,48546,58246,76147,02847,08847,20647,30847,25147,48047,63447,75047,97748,00548,13248,17047,96048,16948,19948,46648,45248,77149,153

Unemployment

Total

2,3112,2763,6373,2882,0551,8831,8343,5322,8522,7502,8594,6023,7403,8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4257,9647,8867,7917,5577,5737,3087,2517,2567,0917,1777,0906,9787,0466,9386,801, 6,6106,7836,4556,6256,8516,5966,4916,595

Males

Total

1,6921,5592,5722,2391,2211,1851,2022,3441,8541,7111,8413,0982,4202,4862,9972,4232,4722,2051,9141,5511,5081,4191,4032,2382,7892,6592,2752,7144,4424,0363,6673,1423,1204,2674,5776,1796,2604,7444,5214,5304,1014,4494,3744,3274,2144,2594,0803,9604,0213,8273,8993,8453,7853,8473,7073,8163,5533,7363,4953,5193,7683,5553,6003,642

16-19years

270256353318191205184310274269300416398426479408501487479432448426440599693711653757966939874813811913962

1,0901,003812806779732758768774760803658637763709725710722693636727644664625704678698698604

20yearsandover

1,4221,3052,2191,9221,029980

1,0192,0351,5801,4421,5412,6812,0222,0602,5182,0161,9711,7181,4351,1201,0609939S3

1,6382,0971,9481,6241,9573,4763,0982,7942,3282,3083,3533,6155,0895,2573,9323,7153,7513,3693,6913,6063,5533,4543,4563,4223,3233,2583,1183,1743,1353,0633,1543,0713,0892,9093,0722,8702,8153,0902,8572,9023,038

Females

Total

619717

1,0651,049834698632

1,188998

1,0391,0181,5041,3201,3661,7171,4881,5981,5811,4521,3241,4681,3971,4291,8552,2272,2222,0892,4413,4863,3693,3243,0613,0183,3703,6964,4994,4573,7943,7913,7073,3243,5153,5123,4643,3433,3143,2283,2913,2353,2643,2783,2453,1933,2003,23V2,9853,0573,0472,9603,1063,0833,0412,8902,954

16-19years

144153223195145140123191176209197262256286349313383385395405391412413506568598583665802780789769743755800886825687661675616638654632610614594611574593663625582619596574615566487530615580489496

20yearsandover

475564841854689559510997823832821

1,2421,0631,0801,3681,1751,2161,1951,056921

1,078985

1,0151,3491,6581,6251,5071,7772,6842,5882,5352,2922,2762,6152,8953,6133,6323,1073,1293,0322,7092,8772,8582,8322,7332,7002,6342,6802,6612,6712,6152,6202,6112,5812,6352,4112,4422,4812,4732,5762,4682,4612,4012,458

1 See footnote 6, Table B-32.Note,-=See Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.

346


TABLE B-34.—Civilian employment by demographic characteristic, 1954-88


Year ormonth

195419551956195719581959

I960196119621963196419651966196719681969

1970197119721973197419751976197719781979

19801981198219831984198519861987

1987: JanFebMar

fcJune

JulyAug.SeptOctNovDec

1988: JanFebMar

MayJune

JulyAugSeptOctNov

All

civilianworkers

60 1096217063799640716303664630

65778657466670267762693057108872'895743727592077902

78678793678215385 064867948584688752920179604898824

99 303100,39799526100 834105,005107,150109,597112,440

111,014111,344111,455111,806112,334112,300

112,639113,050112,872113,210113,504113,744

114,129114,409114,103114,713114,195115,018

115,059115,180115,328115,521115,976

Total

53957558335726957,4655661358,006

58,8505891359,69860622619226344665021663616775069518

7021770,87873370757087718476,4117885381,7008493687,259

8771588,709879038889392,12093,73695,66097,789

96,74997,00197,07497,33897,82997,698

97,91798,18198,06998,31798,49298,779

99,04499,47499,27499,75199,29799,932

99,72599,901100,019100,144100,578

Wh

Males

37846387193936839,3493859139,494

39,7553958840,01640428411154184442331428334341144048

4417844,5954594447,0854767446,6974777549,1505054451,452

5112751,315502875062152,46253,04653,78554,647

54,27354,40354.32354,40354,59154,553

54,65154.77954,80154,89554,97655,111

55,18155.510

55',32055.666

55,68455,60955,65755,62855.747

te

Fe-males

16,11117114179011841618,02218,512

19,0951932519,6822019420 8072160222*6902352824*33925470

2603926J2832742628|,6232951129,7143107832*.5503439235,807

36,58737,3943761538*27239.B5940,69041.87643,142

42,47642,59842.75142,93543,23843,145

43,26643,40243;26843,42243.51643,668

43,86343,96444,02744.18143,97744.266

44,04044,29244,36244.51644331

Bothsexes16-19

3,07832253*3893,3743,2163,475

3,7003,6933,77438514,076456251765,11451955,508

55715,67061736,6236,79664876724Xros73677,356

70216,58859845799•MOB5,76857925,898

5,8405,8805,8135,8465,9355*842

5,9046.017

5.9155,9176,021

6,0956,100

5916

6*258

6.0816,0386,0545,9776066

Total

6,152634165346,60464236,623

6,92868337,00371407*38376437877801181698384

84648,48887839,35696109,435989910,3171111211,565

1158811,688116241194112,88513,41413.93714,652

14,29514,32014.39214,46714.47514,582

14,72514,80414,77814,94615,01715,008

15,07614,88414,85314,93914,81815,017

15,31915.2991530115,43115,377

Black an

Mates

3,77339044,0134,00638333.971

4,14940684*1604!229435944964*5884,64647024770

48134>964,9525,26553525,1615363W959366J56

6,0596,0835,98361666,6296,8457,1077,459

7 2173047,3537,4087.3577,410

7,485

m7.6017,6137,582

7,6497,5497,5237,7377,6547,701

7,7967,82978277.8077777

d other

Fe-males

2,37924372,5212,5982,5902,652

2,7792,7652,84329113,02431473289frS34673,614

3,6503,6923,8324,0924,2584*2754,53647395,1775,409

5,5295,6065,6415,7756,2566,5696,8307,192

6,9747,0167,0397,0597,1187*172

7,2407,2867,2197,3457,4047,426

7,4267.3357,3307.2027,1647,316

7,5237,4707,4737,6247,600

Bothsexes16-19

396418430407365362

430414420404440474545568584609

574538573647652615611619703727

689637565543607666681742

680695683679679731

736822795797805794

757710712735744787

820785800801793

Total

78028',1288,2037,8948,2278,5409,1029,359

9,3139,3559,189937510,11910,50110,81411,309

10,99511,08611,07211,11411,12911,238

11,38111,51311,42111,55611,58911,605

11,60811,50411,42011,48211,45211,489

11,77411,76411,77111,82911,850

Bla

Males

4,3684,5274,5274,2754,4044,5654,7964,923

4,7984,7944,6374,7535,1245,2705,4285,661

5,5535,5655,5795,6005,5705,614

5,6895,7505,7385,7535,7635,754

5,7935,7215,6765,8235,7825,788

5,8355,8935,9075,9095,875

:k

Fe-males

34333,6013,6773,6183,8233,9754,3074,436

4,5154,5614,5524,6224,9955,2315,3865,648

5,4425,5215,4935,5145,5595,624

5,6925,7635,6835,8035,8265,851

5,8155,7835,7445,6595,6705,701

5,9395,8715,8655,9195,975

Bothsexes16-19

509570554507508508571579

547505428416474532536587

517554544538541570

580676643630622631

561537526564589610

632626627622626

Note.-See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-35.—Unemployment by demographic characteristic, 1954-88


Year ormonth

195419551956195719581959

I960196119621963196419651966196719681969

19701971197219731974197519761977. .. .19781979

19801981198219831984198519861987

1987: JanFebMar

&:::June


1988: JanFebMarAprMayJune

JulyAugSeptOctNov

Allcivilianworkers

3,5322,8522,7502,8594,6023,740

3,8524,7143,9114,0703,7863,3662,8752,9752,8172,832

4,0935,0164,8824,3655,1567,9297,4066,9916,2026,137

7,6378,27310,67810,7178,5398,3128,2377,425

7,9647,8867,7917,5577,5737,308

7,2517,2567,0917,1777,0906,978

7,0466,9386,8016,6106,7836,455

6,6256,8516,5966,4916,595

White

Total

2t8592,2522,1592,2893,6802,946

3,0653,7433,0523,2082,9992,6912,2552,3382,2262,260

3,3394,0853,9063,4424,0976,4215,9145,4414,6984,664

5,8846,3438,2418,1286,3726,1916,1405,501

5,9205,8245,7625,6345,5875,452

5,3315,3355,2885,3525,2395,128

5,2085,0564,8974,8244,9134,759

4,8785,1065,0244,8584,898

Males

1,9131,4781,3661,4772,4891,903

1,9882,3981,9151,9761,7791,5561,2411,2081,1421,137

1,8572,3092,1731,8362,1693,6273,2582,8832,4112,405

3,3453,5804,8464,8593,6003,4263,4333,132

3,3913,3323,3213,2383,2193,149

2,9923,0162,9453,0482,9352,858

2,9282,6932,8382,6772,7842,636

2,6572,8662,7952,7872,786

Fe-males

946774793812

1,1911,043

1,0771,3451,1371,232It2201,1351,0141,1301,0841,123

1,4821,7771,7331,6061,9272,7942,6562,5582,2872,260

2,5402,7623,3953,2702,7722,7652,7082,369

2,5292,4922,4412,3962,3682,303

2,3392,3192,3432,3042,3042,270

2,2792,3622,0592,1462,1282,123

2,2212,2402,2282,0712,111

Bothsexes16-19

423373382401541525

575669580708708705651635644660

8711,0111,021955

1,1041,4131,3641,2841,1891,193

1,2911,3741,5341,3871,1161,0741,070995

1,0381,0441,0491,0181,061944

905984979

1,000969949

992865962973885850

902967969889802

Black and other

Total

673601591570923793

788971861863787678622638590571

754930977924

1,0581,5071,4921,5501,5051,473

1,7521,9302,4372,5882,1672,1212,0971,924

2,0462,0612,0421,9351,9971,892

1,8861,8931,8161,8091,8521,845

1.8501,8951,9261,7951,8791,718

1,7011,6941,5921,6421,715

Males

431376345364610517

498599509496426360310300277267

380481486440544815779784731714

922997

1,3341,4011,1441,0951,097969

1,0521,0311,007993

1,048963

960973893860911913

9161,014989888961879

837857781843875

Fe-males

242225246206313276

290372352367361318312338313304

374450491484514692713766774759

830933

1,1041,1871,0221,026999955

9941,0301,035942949929

926920923949941932

934881937907918840

865837811800840

Bothsexes16=19

79779596138128

138159142176165171186203194193

235249288280318355355379394362

377388443441384394383353

368383356354361322

314350322372374359

334375337286346274

305323311290306

Black

Total

906846965

1,3691,3341,3931,3301,319

1,5531,7312,1422,2721,9141,8641,8401,684

1,8121,8081,7811,6641,7601,654

1,6581,6371,6071,5961,6041,610

1,6141,6631,6781,5971,6171,500

1,5191,4981,4191,4611,497

Males

448395494741698698641636

815891

1,1671,2131,003951946826

895885856827911819

823821757747773776

778874857771824750

728743693750762

Fe-males

458451470629637695690683

738840975

1,059911913894858

917923925837849835

835816850849831834

836789821825793750

792755726711736

Bothsexes16-19

279262297330330354360333

343357396392353357347312

333339320317324286

282298286322319317

302333308258314242

285300294272288

Note.—See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-36.—Labor force participation rate and employment/population ratio, 1948-88

[Percent; monthly data seasonally adjusted]

Year or month

19481949 .195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871987: Jan

FebMar

fc~JuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJulyAugSeptOctNov

Labor force participation rate

Total l

59.760.160.059.759.660.060.760.360.159.960.060059.559.359.459.559.860.260.360.861.060.760.961.361.761.662.062.663.564.064.164.264.364.464.765.165.665.965.865.865.865.866.065.865.966.165.866.066.166.166.266.366.066.265.966.166.266.366.266.266.5

Civilian2

Total

58.858.959.259.259.058.958.859.360.059.659.559.359.4s<n58.858.758.758.959.259.659.660.160.460.260.460.861.361.261.662.363.263.763.863.964.064.064.464.865.365.665.465.565.565.565.765.565.665.765.565.765.765.765.966.065.765.965.665.865.966.065.965.966.2

Males

86.686.486.486.386.386.085.585.485.584.884.283.783.38?<)82.081.481.080.780.480.480.179.879.779.178.978.878.777.977.577.777.977.877.477.076.676.476.476.376.376.276.476.476.276.276.376.076.076.376.076.176.176.176.276.376.076.376.176.276.276.476.276.176.2

Fe-males

32.733.133.934.634.734.434.635.736.936.937.137.137.738.137.938.338.739.340.341.141.642.743.343.443.944.745.746.347.348.450.050.951.552.152.652.953.654.555.356.055.555.755.755.856.155.956.156.256.056.256.356.456.656.656.356.456.156.456.556.656.656.757.1

Bothsexes16-19years

52.552.251.852.251.350.248.348.950.949.647.446.747.546.946.145.244.545.748.248.448.349.449.949.751.953.754.854.054.556.057.857.956.755.454.153.553.954.554.754.754.354.754.354.255.253.654.056.354.455.154.855.556.054.953.954.254.056.256.056.456.255.055.0

White

58.258.759.459.158.958.758.858858.358.258.258.458.759.259.359.960.260.160.460.861.461.561.862.563.363.964.164.364.364.364.665.065.565.865.765.765.765.765.965.765.765.965.765.965.966.066.166.366.066.265.966.266.166.366.366.266.5

Blackand

other

64064.264.964.464.864.364.564163.263.063.162.963.062.862.262.161.860.960.260.560.359.659.860.462.262.261.761.361.662.162.663.363.764.364.064.164.263.964.063.964.364.564.064.564.864.764.764.163.963.763.463.464.464.1'63.664.264.2

Black

•

""59"9"60.259.858.859.059.861.561.461.060.861.061.562.262.963.363.863.463.863.563.063.563.464.064.563.864.364.464.464.464.063.663.463.362.864.264.063.563.964.1

Employment/population ratio

Total 3

56.658.258.258.056.457.558.257.856.156.756.856.156.356.156.456.957.658.058.258.758.057.257.558.358.356.557.358.359.760.359.659.458.258.359.960.561.161.961.461.561.561.761.961.861.962.162.062.162.262.362.462.562.362.662.362.762.662.762.762.762.9

Civilian *

Total

56.655.456.157.357.357.155.556.757.557.155.456.056.155.455.555.455.756.256.957.357.558.057.456.657.057.857.856.156.857.959.359.959.259.057.857.959.560.160.761.561.161.261.261.361.561.561.661.861.661.861.961.962.162.262.062.361.962.362.362.362.462.462.6

Males

83.581.382.084.083.983.681.081.882.381.378.579.378.977.677.777.177.377.577.978.077.877.676.274.975.075.574.971.772.072.873.873.872.071.369.068.870.770.971.071.571.271.371.271.371.471.371.571.671.671.771.771.771.872.071.672.271.872.272.272.172.172.072.1

Fe-males

31.331.232.033.133.433.332.534.035.135.134.535.035.535.435.635.836.337.138.339.039.640.740.840.441.042.042.642.043.244.546.447.547.748.047.748.049.550.451.452.551.852.052.152.352.652.552.652.852.652.852.953.153.253.253.253.252.953.453.353.453.553.754.0

Bothsexes16-19.years

47.745.245.547.946.946.442.343.545.343.939.939.940.539.139.437.437.338.942.142.242.243.442.341.343.545.946.043.344.246.148.348.546.644.641.541.543.744.444.645.544.744.944.644.845.445.045.547.245.545.745.746.647.046.545.045.645.548.547.547.547.346.847.4

White

55.256.557.356.855.355.955.955.355.455.355.556.056.857.257.458.057.556.857.458.258.356.757.558.660.060.660.060.058.858.960.561.061.562.361.962.062.062.162.462.362.362.562.462.562.662.762.863.062.963.262.863.263.063.163.163.263.4

Blackand

other

58.058.759.559.356.757.557.956.256.356.257.057.858.458.258.058.156.854.954.155.054.351.452.052.554.755.253.652.650.951.053.654.755.456.856.056.056.256.456.356.657.057.257.057.657.757.657.756.856.656.856.356.957.957.857.758.057.7

Black

153.754.553.550.150.851.453.653.852.351.349.449.552.353.454.155.654.554.854.754.854.855.255.956.455.956.556.656.656.555.955.455.755.555.556.856.756.756.956.9

1 Labor force including resident Armed Forces as percent of noninstitutional population including resident Armed Forces.2 Civilian labor force as percent of civilian noninstitutional population in group specified.3 Employment including resident Armed Forces as percent of noninstitutional population including resident Armed Forces.4 Civilian employment as percent of civilian noninstitutional population in group specified.

Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-37.—Civilian labor force participation rate by demographic characteristic, 1954-88

[Percent;1 monthly data seasonally adjusted]

Year or month

195419551956....19571958....1959

1960196119621963196419651966196719681969

197019711972

1972197319741975197619771978..1979

1980198119821983198419851986 .1987

1987- JanFeb ..Mar

fcJune

JulyAUESeptOctNovDec

1988- JanFebMar

MayJune

JulyAugSeptOctNov

Allcivil-ian

work-ers

58.859.360.059.659.559.3

59.459.358.858.758.758.959.259.659.660.1

60.460.260.4

60.460.861.361.261.662.363.263.7

63.863.964.064.064.464.865.365.6

65.465.565.565.565.765.5

65.665.765.565.765.765.7

65.966.065.765.965.665.8

65.966.065.965.966.2

White

Total

58.258.759.459.158.958.7

58.858.858.358.258.258.458.759.259.359.9

60.260.160.4

60.460.861.461.561.862.563.363.9

64.164.364.364.364.665.065.565.8

65.765.765.765.765.965.7

65.765.965.765.965.966.0

66.166.366.066.265.966.2

66.166.366.366.266.5

Males

Total

85.685.485.684.884.383.8

83.483.082.181.581.180.880.680.680.480.2

80.079.679.6

79.679.479.478.778.478.578.678.6

78.277.977.477.177.177.076.976.8

77.077.176.976.877.076.8

76.676.876.776.976.876.8

76.977.076.876.976.776.9

76.977.076.976.876.9

16-19years

57.658.660.459.256.555.9

55.954.553.853.152.754.155.956.355.956.8

57.557.960.1

60.162.062.961.962.364.065.064.8

63.762.460.059.459.059.759.359.0

59.360.359.058.559.357.6

57.159.958.659.358.760.1

61.059.459.459.258.260.8

60.361.260.559.660.5

20yearsandover

87.887.587.686.986.686.3

86.085.784.984.484.283.983.683.583.283.0

82.882.382.0

82.081.681.480.780.380.280.180.1

79.879.579.278.978.778.578.578.4

78.678.578.478.478.578.4

78.378.278.278.478.378.2

78.378.578.278.578.378.2

78.378.478.378.378.3

Females

Total

33.334.535.735.735.836.0

36.536.936.737.237.538.139.240.140.741.8

42.642.643.2

43.244.145.245.946.948.049.450.5

51.251.952.452.753.354.155.055.7

55.255.355.455.555.855.6

55.755.955.755.855.956.0

56.256.456.156.356.056.4

56.256.556.556.556.9

16=19years

40.640.743.142.240.139.6

40.340.639.838.737.839.242,642.543.044.6

45.645.448.1

48.150.151.751.552.854.556.757.4

56.255.455.054.555.455.256.356.5

56.355.956.056.557.855.8

56.757.155.756.556.757.0

58.157.855.056.755.758.9

57.457.258.557.056.3

20yearsandover

32.734.035.135.235.535.6

36.236.636.537.037.538.038.839.840.441.5

42.242.342.7

42.743.544.445.346.247.348.749.8

50.651.552.252.553.154.054.955.6

55.255.355.455.555.755.6

55.755.855.755.755.855.9

56.156.356.256.356.156.2

56.156.456.456.456.9

Black and other or black

Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

Black and other

64.064.264.964.464.864.3

64.564.163.263.063.162.963.062.862.262.1

61.860.960.2

85.285.185.184.284.183.4

83.082.280.880.280.179.679.078.577.776.9

76.574.973.9

61.260.861.558.857.355.5

57.655.853.551.549.951.351.451.149.749.6

47.444.746.0

87.187.887.887.087.186.7

86.285.584.283.984.183.783.382.982.281.4

81.480.078.6

46.146.147.347.148.047.7

48.248.348.048.148.648.649.449.549.349.8

49.549.248.8

31.032.736.333.231.928.2

32.932.833.132.631.729.533.535.234.834.6

34.131.232.3

47.747.548.448.649.849.8

49.950.149.649.950.751.151.651.651.452.0

51.851.851.2

Black

59.960.259.858.859.059.861.561.4

61.060.861.061.562.262.963.363.8

63.463.863.563.063.563.4

64.064.563.864.364.464.4

64.464.063.663.463.362.8

64.264.063.563.964.1

73.673.472.970.970.070.671.571.3

70.370.070.170.670.870.871.271.1

71.371.270.970.771.170.5

71.271.870.970.971.171.0

71.371.570.771.271.370.4

70.571.370.871.471.0

46.345.746.742.641.343.244.943.6

43.241.639.839.941.744.643.743.6

43.743.041.542.141.740.3

42.248.443.344.545.845.6

42.740.137.740.146.444.0

45.744.744.346.646.7

78.578.477.676.075.475.676.276.3

75.174.574.775.274.874.474.874.7

74.974.974.874.475.074.5

75.174.974.574.374.574.3

75.075.675.075.374.573.8

73.874.774.274.674.2

48.749.349.048.849.850.853.153.1

53.153.553.754.255.256.556.958.0

57.157.857.556.857.257.6

58.158.558.059.058.959.1

58.758.057.857.156.856.6

59.058.057.657.958.5

32.234.233.434.232.932.937,336.8

34.934.033.533.035.037.939.139.6

35.740.238.737.238.438.8

37.441.542.343.140.841.8

36.939.938.935.436.634.2

38.340.240.235.637.2

51.251.651.451.152.553.655.555.4

55.656.056.256.857.658.658.960.0

59.459.759.558.959.359.6

60.460.359.760.760.961.0

61.159.959.959.459.059.0

61.259.959.560.360.8

1 Civilian labor force as percent of civilian noninstitutionai population in group specified.

Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-32.



TABLE B-38.—Civilian employment/population ratio by demographic characteristict 1954-88


Year or month

195419551956195719581959

I96019611962196319641965196619671968 ..1969

197019711972

19721973197419751976197719781979

19801981198219831984198519861987


JulvAugSeptOctNovDec

1988: JanFebMar

f,=June

JulyAugSeptOctNov

Allcivil-ian

work-ers

55.556.757.557.155.456.0

56.155.455.555.455.756.256.957.357.558.0

57.456.657.0

57.057.857.856.156.857.959.359.9

59.259.057.857.959.560.160.761.5

61.161.261.261.361.561.5

61.661.861.661.861.961.9

62.162.262.062.361.962.3

62.362.362.462.462.6

White

Total

55.256.557.356.855.355.9

55.955.355.455.355.556.056.857.257.458.0

57.556.857.4

57.458.258.356.757.558.660.060.6

60.060.058.858.960.561.061,562.3

61.962.062.062.162.462.3

62.362.562.462.562.662.7

62.863.062.963.262.863.2

63.063.163.163.263.4

Males

Total

81.582.282.781.879.279.9

79.478.278.477.777.877.978.378.478.378.2

76.875.776.0

76.076.575.973.073.474.175.075.1

73.472.870.670.472.172.372.372.7

72.572.672.472.572.772.6

72.672.872.772.872.973.0

73.073.473.073.473.073.4

73.473.273.373.273.3

16-19years

49.952.054.152.447.648.1

48.145.946.444.745.047.150.150.250.351.1

49.649.251.5

51.554.354.450.651.554.456.355.7

53.451.347.047.449.149.949.649.9

49.750.749.148.949.249.1

49,450.849.850.350.051.1

52,252.250.050.650.253.0

51.552.751.450.753.2

20yearsandover

84.084.785.084.181.882.8

82.481.481.581.181.381.581.781.781.681.4

80.179.079.0

79.079.278.675.776.076.577.277.3

75.675.173.072.674.374.374.374.7

74.574.574.574.574.774.6

74.774.774.774.874.974.9

74.875.275.075.475.075.1

75.275.075.175.175.0

Females

Total

31.433.034.234.233.634.0

34.634.534.735.035.536.237.538.338.940.1

40.339.940.7

40.741.842.442.043.244.546.347.5

47.848.348.148.549.850.751.752.8

52.152.352.452.652.952.8

52.953.052.853.053.153.2

53.453.553.653.753.553.8

53.553.853.854.054.3

16-19years

36.437.038.938.235.034.8

35.134.634.832.932.233.737.537.737.839.5

39.538.641.3

41.343.644.342.544.245.948.549.4

47.946.244.644.547.047.147.949.0

48.448.048.349.050.148.6

49.349.848.248.749.250.0

50.250.548.248.948.852.4

51.049.351.150.850.0

20yearsandover

31.132.733.833.933.534.0

34.534.534.735.235.836.537.538.339.140.1

40.440.140.6

40.641.642.241.943.144.446.147.3

47.848.548.448.950.051.052.053.1

52.452.652.752.953.153.1

53.253.353.253.353.453.5

53J53.854.054.153.853.9

53.754.154.054.254.6


Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

Black and other

58.058.759.559.356.757.5

57.956.256.356.257.057.858.458.258.058.1

56.854.954.1

76.577.678.477.272.573.8

74.171.772.071.872.973.774.073.873.372.8

70.968.167.3

52.452.752.248.042.041.4

43.841.041,737,437,839,440.538,838.739.0

35.531.832.4

79.280.481.380.576.077.6

77.975.575.776.277.778.779.279.478.978.4

76.874.273.2

41.942.243.043.742.843.2

43.642.642.742.743.444.145.145.045.245.9

44.943.943.3

24,726.428.026,522.820.3

24.823.223.121.321.820.223.124.824.725.1

22.420.219.9

43.743.944.745.545.045.7

45.844.844.945.246.147.348.247.948.248.9

48.247.346.7

Black

53.754.553.550.150.851.453.653.8

52.351.349.449.552.353.454.155.6

54.554.854.754.854.855.2

55.956.455.956.556.656.6

56.555.955.455.755.555.5

56.856.756.756.956.9

66.867.565.860.660.661.463.363.4

60.459.156.056.359.260.060.662.0

61.461.461.461.661.161.5

62.262.962.662.762.762.5

62.962.061.462.962.462.3

62.763.363.463.362.9

31.632.831.426,325,826.428.528.7

27.024.620.320.423.926.326.528.5

27.726.726.526.225.827.7

28.632.129.630.131.130.4

27.723.323.029.131.030.6

31.830.330.330.931.6

73.073.771.966.566.867.569.169.1

65.864.561.461.664.164.665,166.4

65.866.066.166.365.866.0

66.766.967.067.066.966.8

67.567.166.467.366.566.5

66.867.667.767.566.9

43.043.843.541.642.843.345.846.0

45.745.144.244.146.748.148.850.3

48.949.549.249.349.650.1

50.751.250.551.551.651.7

51.451.050.649.849.850.0

52.051.451.351.752.1

19.222.020.920.219.218.522.122.4

21.019.717.717.020.123.123.825.8

20.624.924.023.724.325.0

25.030.229.627.926.227.9

24,026.125.322.823.225.3

26.127.127.226.225.9

46.547.246.944.946.447.049.349.3

49.148.547.547.449.850.951.653.0

51.952.251.952.152.452.9

53.553.552.754.054.354.3

54.353.753.352.752.752.7

54.854.053.854.454.9

1 Civilian employment as percent of civilian noninstitutional population in group specified.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-39.—Unemployment rate, 2948-88


Year ormonth

19481949

1950195119521953195419551956. .19571958 . ..1959

19601961 ...19621963196419651966196719681969

1970197119721973197419751976197719781979

19801981.198219831984198519861987

1987: JanFebMar

flfay'ZJune....

JulyAugSept....OctNovDec

1988: JanFebMar

June,...

JulyAugSept....OctNov

Unem-ploy-mentrate.

allwork-ers1

5.23.22.92.85.44.34.04.26.65.3

5.46.55.45.55.04.43.73.73.53.4

4.85.85.54.85.58.37.66.96.05.8

7.07.59.59.57.47.16.96.1

6.66.56.46.26.26.0

6.05.95.85.95.85.7

5.75.65.55.45.55.2

5.45.55.35.25,3

Unemployment rate, civilian workers 2

Allcivil-ian

work-ers

3.85.9

5.33.33.02.95.54.44.14.36.85.5

5.56.75.55.75.24.53.83.83.63.5

4.95.95.64.95.68.57.77.16.15.8

7.17.69.79.67.57.27.06.2

6.76.66.56.36.36.1

6.06.05.96.05.95,8

5.85.75.65.45.65.3

5.45.65.45.35.4

Males

Total

3.65.9

5.12.82.82.85.34.23.84.16.85.2

5.46.45.25.24.64.03.23.12.92.8

4.45.35.04.24.97.97.16.35.35.1

6.97.49.99.97.47.06.96.2

6.76.66.66.46.46.2

6.06.15.85.95.85.7

5.85.65.75.35.65.2

5.35.65.35.45.4

16-19

years

9.814.3

12.78.18.97.9

13.511.611.112.417.115.3

15.317.114.717.215.814.111.712.311.611.4

15.016.615.913.915.620.119.217.315.815.9

18.320.124.423.319.619.519.017.8

18.518.519.018.719.616.4

15.917,817.317.417.217.2

16.415.617.815.816.214.7

16.615.916.716.914.5

20yearsandover

3.25.4

4.72.52.42.54.93.83.43.66,24.7

4.75.74.64.53.93.22.52.32.22.1

3.54.44.03.33.86.85.95.24.34.2

5.96.38.88.96.66.26.15.4

6.05.85.75.65.65.5

5.45.25.05.15.04.9

5.14.94.94.64.94.6

4.54.94.54.64.8

Females

Total

4.16.0

5.74.43.63.36.04.94.84.76.85.9

5.97.26.26.56.25.54.85.24.84.7

5.96.96.66.06.79.38.68.27.26.8

7.47.99.49.27.67.47.16.2

6.66.66.56.36.26.0

6.16.06.16.16.05.9

5.95.95.55.65.65.4

5.75.65.55.35.3

16-19

years

8.312.3

11.48.38.07.2

11.410.211.210.614.313.5

13.916.314.617.216.615.714.113.514.013.3

15.617.216.715.316.619.718.718.317.116.4

17.219.021.921.318.017.617.615.9

16.817.116.615.915.615.5

15.714.415.416.916.014.8

15.615.115.216.015.012.4

13.615.814.712.813.1

20yearsandover

3.65.3

5.14.03.22.95.54.44.24.16.15.2

5.16.35.45.45.24.53.84.23.83.7

4.85.75.44.95.58.07.47.06.05.7

6.46.88.38.16.86.66.25.4

5.95.85.75.55.45.3

5.45.35.45.25.25.2

5.15.24.84.84.94.9

5.14.84.84.74.8

Bothsexes16-19

years

9.213.4

12.28.28.57.6

12.611.011.111.615.914.6

14.716.814.717.216.214.812.812.912.712.2

15.316.916.214.516.019.919.017.816.416.1

17.819.623.222.418.918.618.316.9

17.717.917.817.317.616.0

15.816.216.417.216.616.1

16.015.416.515.915.613.6

15.215.815.714.913.9

White

3.55.6

4.93.12.82.75.03.93.63.86.14.8

5.06.04.95.04.64.13.43.43.23.1

4.55.45.14.35.07.87.06.25.25.1

6.36.78.68.46.56.26.05.3

5.85.75.65.55.45.3

5.25.25.15.25.14.9

5.04.84.74.64.74.5

4.74.94.84.64.6

Blackand

other

5.98.9

9.05.35.44.59.98.78.37.9

12.610.7

10.212.410.910.89.68.17.37.46,76.4

8.29.9

10.09.09.9

13.813.113,111.911.3

13,114.217.317.814.413.713.111.6

12.512.612.411.812.111.5

11.411.310.910.811.010.9

10.911.311.510.711.310.3

10.010.09.49.6

10.0

Black

............

9.410.514.814.014.012.812.3

14.315.618.919.515.915.114.513.0

14.114.013.913.013.712.8

12.712.412.312.112.212.2

12.212.612.812.212.411.5

11.411.310.811.011.2

Experi-encedwageand

salaryworkers

4.36.8

6.0373.43.26.24.84 44.67.35.7

5.76.85.65.65.04.33.53.63.43.3

4.85.75.34.55.38.27.36.6

• 5.65.5

6.97.39.39.27.16.86.65.8

6.36.26.15.95.95.8

5.85.75.55.55.55.4

5.55.35.25.05.45,0

5.15.35.15.05.1

Mar-riedmen,

spousepres-ent3

3.5

4.6151.41.74.02.6232.85.13.6

3.74.63.63.42.82.41.91.81.61.5

2.63.22.82.32.75.14.23.62.82.8

4.24.36.56.54.64.34.43.9

4.24.14.14.1

a.3.83.73.73.7

.3.53.4

3.63.43.43.03.33.1

3.03.43-13.13.4

Womenwho

main-tain

fami-lies

4.94.44.4

5.47,37.27.17.0

10.010.19.48.58.3

9.210.411.712.210.310.49.89.2

9.89.69.79.49.59.5

9.39.08.88.98.58.4

8.98.37.58.78.47.8

8.67.48.17.97.6

1 Unemployed as percent of labor force including resident Armed Forces.2 Unemployed as percent of civilian labor force in group specified.3 Data for 1949 and 1951-54 are for April; 1950, for March.Note.—Data relate to persons 16 years of age and over.See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-40.—Civilian unemployment rate by demographic characteristic, 1948-88


Year or month

1948.1949

19501951195219531954! .".'..19551956.19571958.1959

19601961.19621963.19641965.19661967.19681969

1970.19711972

1972197319741975.1976197719781979

19801981198219831984198519861987

1987: JanFebMar

fci:::::June

JulyAucSeptOctNovDec

1988- JanFebMar

May "'""'June

JulyAucSeptOctNov

Allcivil-ian

work-ers

3.85.9

5.33.33.02.95.54.44.14.36.85.5

5.56.75.55.75.24.53.83.83.63.5

4.95.95.6

5.64.95.68.57.77.16.15.8

7.17.69.79.67.57.27.06.2

6.76.66.56.36.36.1

6.06.05.96.05.95.85.85.75.65.45.65.3

5.45.65.45.35.4

White

Total

3.55.6

4.93.12.82.75.03.93.63.86.14.8

5.06.04.95.04.64.13.43.43.23.1

4.55.45.1

5.14.35.07.87.06.25.25.1

6.36.78.68.46.56.26.05.3

5.85.75.65.55.45.3

5.25.25.15.25.14.95.04.84.74.64.74.5

4.74.94.84.64.6

Males

Total

3.45.6

4.72.62.52.54.83.73.43.66.14.6

4.85.74.64.74.13.62.82.72.62.5

4.04.94.5

4.53.84.47.26.45.5

• 4.64.5

6.16.58.88.86.46.16.05.4

5.95.85.85.65.65.5

5.25.25.15.35.14.95.04.64.94.64.84.5

4.64.94.84.84.8

16-19years

13.411.310.511.515.714.0

14.015.713.715.914.712.910.510.710.110.0

13.715.114.2

14.212.313.518.317.315,013.513.9

16.217.921.720.216.816.516.315.5

16.116.016.816.317.014.8

13.515.215.115.114.814.914.412215.714.513.812.8

14.613.815.014.812.2

20yearsandover

4.43.33.03.25.54.1

4.25.14.03.93.42.92.22.12.01.9

3.24.03.6

3.63.03.56.25.44.73.73.6

5.35.67.87.95.75.45.34.8

5.25.15.04.94.84.9

4.74.64.44.64.44.34.44.14.24.04.24.0

3.94.34.14.14.3

Females

Total

3.85.7

5.342•n315.54.34.24.36.25.3

5.36.55.55.85.55.04.34.64.34.2

5.46.35.9

5.95.36.18.67.97.36.25.9

6.56.98.37.96.56.46.15.2

5.65.55.45.35.25.1

5.15.15.15.05.04.94.95.14.54.64.64.6

4.84.84.84.44.5

16-19years

10.49.19.79.5

12.712.0

12.714.812.815.114.914.012.111.512.111.5

13.415.114.2

14.213.014.517.416.415.914.414.0

14.816.619.018.315.214.814.913.4

14.014.113.713.313.313.0

13.112.913.413.813.312.313.612.712.413.712.411.1

11.113.812.511.011.2

20yearsandover

5.13.93.73.85.64.7

4.65.74.74.84.64.03.33.83.43.4

4.45.34.9

4.94.35.17.56.86.25.25.0

5.65.97.36.95.85.75.44.6

5.04.84.74.64.54.4

4.54.44.54.34.44.44.24.53.93.94.04.0

4.34.14.23.94.0


Total

Males

Total 16-19years

20yearsandover

Females

Total 16-19years

20yearsandover

Black and other

5.98.9

9.05.35.44.59.98.78.37.9

12.610.7

10.212.410.910.89.68.17.37.46.76.4

8.29.9

10.0

5.89.6

9.44.95.24.8

10.38.87.98.3

13.711.5

10.712.810.910.58.97.46.36.05.65.3

7.39.18.9

14.413.415.018.426.825.2

24.026.822.027.324.323.321.323.922.121.4

25.028.829.7

9.98.47.47.6

12.710.5

9.611.710.09.27.76.04.94.33.93.7

5.67.36.9

6.17.9

8.461•>7419.28.58,97.3

10.89.4

9.411.911.011.210.79.28.79.18.37.8

9.310.911.4

20.619.222.820.228.427.7

24.829.230.234.731.631.731.329.628.727.6

34.535.438.4

8.47.77.86.49.58.3

8.310.69.69.49.07.56.67.16.35.8

6.98.78.8

Black

10.49.4

10.514.814.014.012.812.3

14.315,618.919.515.915.114.513.0

14.114.013.913.013.712.8

12.712.412.312.112.212.212.212.612.812.212.411.5

11.411.310.811.011.2

9.38.09.8

14.813.713.311.811.4

14.515.720.120.316.415.314.812.7

13.913.713.312.914.112.7

12.612.511.711.511.811.911.813.313.111.712.511.5

11.111.210.511.311.5

31.727.833.138.137.539.236.734.2

37.540.748.948.842.741.039.334.4

36.537.936.137.838.331.4

32.433.731.532.532.233.535.142.039.027.633.330.4

30.432.231.733.532.4

7.06.07.4

12.511.410.79.39.3

12.413.517.818.114.313.212.911.1

12.111.911.611.012.311.4

11.210.710.19.8

10.210.110.111.311.410.610.810.0

9.59.68.89.49.8

11.811.111.314.814.314.913.813.3

14.015.617.618.615.414.914.213.2

14.414.314.413.213.212.9

12.812.413.012.812.512.512.612.012.512.712.311.6

11.811.411.010.711.0

40.536.137.441.041.643.440.839.1

39.842.247.148.242.639.239.234.9

42.338.038.036.336.635.4

33.127.130.035.235.833.434.934.735.035.536.625.9

31.832.732.226.530.4

9.08.68.8

12.211.712.311.210.9

11.913.415.416.513.513.112.411.6

12.612.612.711.611.611.3

11.411.311.711.010.810.911.110.410.911.310.610.7

10.49.99.59.79.7

1 Unemployed as percent of civilian labor force in group specified.Note.—See footnote 6 and Note, Table B-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-41.—Unemployment by duration and reason, 1947-88

[Monthly data seasonally adjusted1]

Year or month

1947... .19481949

195019511952,1953195419551956195719581959I9601961196219631964196519661967 219681969.1970..1971197219731974197519761977.19781979198019811982198319841985..19861987....1987: Jan

FebMarAprMayJuneJulyAug.SeptOct

Dec

1988: JanFeb ,..MarAprMay ::::::::;;June

JulyAugSeptOct.Nov....

Unem-ploy-ment

Duration of unemployment

Lessthan 5weeks

5-14weeks

15-26weeks

27weeksandover

Thousands of persons 16years of age and over

2,3112,2763,637

3,2882,0551,8831,8343 322,8522,7502,8594,6023,7403t8524,7143,9114,0703,7863,3662,8752,9752,8172,8324,0935,0164,8824,3655,1567,9297,4066,9916,2026,1377,6378,27310,67810,7178,5398,3128,2377,4257,9647,8867,7917,5577,5737,3087,2517,2567,0917,1777,0906,978

7,0466,9386,8016,6106,7836,455

6,6256,8516,5966,4916,595

1,2101,3001,756

1,4501,1771,1351,1421,6051,3351,4121,4081,7531,5851,7191,8061,6631,7511,6971,6281,5731,6341,5941,6292,1392,2452,2422,2242,6042,9402,8442,9192,8652,9503,2953,4493,8833,5703,3503,4983,4483,2463,3653,3433,3523,1953,3083,1383,1863,2033,2203,2233,2183,229

3,0893,0843,0093,1253,0753,066

2,9653,1973,1393,0623,153

704669

1,194

1,055574516482

1,116815805891

1,3961,1141,1761,3761,1341,2311,117983779893810827

1,290lisSS1,4721,3141,5972,4842,1962,1321,9231,9462,4702,5393,311

. 2,9372,4512,5092,5572,1962,4892,4442,4112,2562,1652,1512,1442,1421,9492,0932,0291,968

2,2632,1452,1011,9562,1101,890

2,0781,9571,8231,8141,924

234193428

425166148132495366301321785469503728534535491404287271256242428668601483574

1,3031,018913766706

1,0521,1221,7081,6521,1041,025.1,045943

1,0231,004944984974973945834917844899892

839841887725

• 784727

838859789778776

164116256

3571378478317336232239667571454804585553482351239177156133235519566343381

1,2031,3481,028648535820

1,1621,7762,5591,6341,2801,1871,0401,1641,1251,1111,0761,0931,056975

1,062987957935899

894899835816825785

791817807773711

Aver-age

(mean)dura-

. tion

Mediandura-tion

Weeks

8.610.0

12.19.78.48.011.813.011.310.513.914.412.815.614.714.013.311.810.48.78.47.88.611.312.010.09.814.215.814.311.910.811.913.715.620.018.215.615.014.515.014.814.914.814.814.714.214.314.214.114.014.2

14.414.413.713,413.812.9

13.613.713.713.512.5

4.54.44.96.36.25.25.28.48.27.05.95.46.56.98.710.17.96.86.96.57.06.76.76.96.66.66.66.45.86.2e:i6.0

6.46.46.65.65.96.0

6.35.95.55.65.5

Reason for unemployment

Joblosers

Jobleavers

Reen-trants

Newen-

trants

Thousands of persons 16years of age and over

1,2291,0701,0171,8112,3232,1081,6942,2424,3863,6793,1662,5852,6353,9474,2676,2686,2584,4214,1394,0333,5663,9713,8353,7913,7053,6123,554

3,5293,3893,3133,3883,3073,200

3,2093,2073,1392,9163,2363,059

3,0873,1383,0872,9093,037

438431436550590641683768827903909874880891923840830823877

1,015965909

1,033996955931959989992981960926946

1,082961

1,075993926944

904997994986948

945909965

1,2281,4721,4561,3401,4631,8921,9281,9631,8571,8061,9272,1022,3842,4122,1842,2562,1601,9742,0592,0382,0781,9651,9951,9801,9301,9691,9081,8451,9741,945

1,9171,9511,7561,7841,7891,723

1,9011,8691,7611,7641,765

396407413504630677649681823895953885817872981

1,1851,2161,1101,0391,029920

1,0481,007952918999854844855882914855909

885864887915807777

776793745728805

1 Because of independent seasonal adjustment of the various series, detail will not add to totals.2 Data for 1967 by reason for unemployment are not strictly comparable with those for later years and the total by reason is notequal to total unemployment.

Note.—See footnote 6 and Note, Table 6-32.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-42.—Unemployment insurance programs, selected data, 1955-88

Year or month

19551956.195719581959196019611962196319641965 ... .196619671968196919701971 . .1972197319741975197619771978197919801981198219831984198519861987

1987: JanFebMarAprIVTay .JuneJulyAug . .SeptOctNovDec

1988- JanFebMarAprMayJuneJulyAueSept. 1OctNov"

All programs

Coveredemploy-ment1

Insuredunemploy-

ment(weekly

aver-age) 2 3

Thousands

40,01842,75143,43644,41145,72846,33446,26647,77648,43449,63751,58054,73956,34257,97759,99959,52659,37566,45869,89772,45171,03773,45976,41988,80492,06292,65993,30091,62891,89896,47499,186

101,099898,757

1,3991,3231,5712,773

' 1,8602,0712,9941,9467 1,9731,7531,4501,1291,2701,1871,1772,0702,6082,1921,7932,5584,9373,8463,3082,6452,5923,8373,4104,5943,7752,5612,6932,7462,401

3,2763,1552,9332,5262,2162,108

. 2,2102,0301,8001,7591,9312,3222,8702,7752,5362,2081,9491,8772,0441,9051,7221,667

Totalbenefits

paid(millions

dollars)2 4

1,560.21,540.61,913.04,290.62,854.33,022.84,358.13,145.13,025.92,749.22,360.41,890.92,221.52,191.02,298.64,209.36,154.05,491.14,517.36,933.9

16,802.412,344.810,998.99,006.99,401.3

16,175.415,287.123,774.820,206.213,109.614,495.115,892.114,532.0

1,576.41,556.21,659.01,421.91,118.71,153.81,167.81,048.5

983.3892.4895.3

1,239.61,362.71,473.81,574.31,165.91,042.91,065.9

989.71,122.8

926.5841.9

State programs

Insuredunem-

ploymentInitialclaims

Exhaus-tions5

Weekly average; thousands

1,2651,2151,4462,5101,6841,9082,2901,7837 1,8061,6051,3281,0611,2051,1111,1011,8052,1501,8481,6322,2623,9862,9912,6552,3592,4343,3503,0474,0613,3962,4762,6112,6502,332

2,5232,4702,4392,3672,3212,2972,2732,2232,1022,0352,0372,0902,2422,2082,1402,0872,0642,0642,0962,0982,0151,9341,955

2262272703692773313503027 298268232203226201200296295261247363478386375346388488460583438377396378328

363361342334333331329307289293303317356327308302313302328306289288294

252023503331463230262115171616253935293781635539395957808050505246

52525358494751393938354240414344413939373332

Insuredimarnnlnifunemploy-ment aspercent

ofcoveredemploy-

ment

3.53.23.66.44.44.85.64.44.33.83.02.32.52.22.13.44.13.52.73.56.04.63.93.32.93.93.54.63.92.82.92.82.4

2.72.62.62.52.42.42.42.32.22.12.12.22.32.32.22.12.12.12.12.12.01.92.0

Benefits paid

Total(millions

dollars)*

1,350.31,380.71,733.93,512.72,279.02,726.73,422.72,675.42,774.72,522.12,166.01,771.32,092.32,031.62,127.93,848.54,957.04,471.04,007.65,974.9

11,754.78,974.58,357.27,717.28,612.9

13,761.113,262.120,649.517,762.812,594.713,977.815,402.814,260.9

1,523.71,499.71,601.71,379.41,084.41,120.71,135.81,019.2

954.7865.7869.8

1,206.41,337.61,445.21,542.81,140.61,016.61,034.5

961.91,093.4

903.5820.2

Averageweeklycheck

(dollars)6

25.0427.0228.1730.58

. 30.4132.8733.8034.5635.2735.9237.1939.7541.2543.4346.1750.3454.0256.7659.0064.2570.2375.1678.7983.6789.6798.95

106.70119.37123.59123.47128.23135.72140.58

139.11140.80140.91140.77140.64140.47139.24140.09140.27141.58141.13142.50145.06147.40147.17145.74145.05143.28142.56137.79145.19146.06

E (Federal employee, effective January 1955), and RRB (Railroad Retirement Board) programs.Mober 1958, also includes the UCX program (unemployment compensation for ex-servicemen).

SincltTdes State, UCFE, RR, UCX, UCV (unemployment compensation for veterans, October 1952-January I960) and SRA(Servicemen's Readjustment Act, September 1944-September 1951 programs. Also includes Federal and State extended benefitprograms. Does not include FSB (Federal supplemental benefits), SUA (special unemployment assistance), and Federal SupplementalCompensation programs. 1988 monthly data exclude railroad, for which data are not yet available.3 Covered workers who have completed at least 1 week of unemployment.4 Annual data are net amounts and monthly data are gross amounts.5 Individuals receiving final payments in benefit year.

7 Programs include Puerto Rican sugarcane workers for initial claims and insured unemployment beginning Julv 1963.8 Latest data available for all programs combined. Workers covered by State programs account for about 97 percent of wage andsalary earners.

Source: Department of Labor, Employment and Training Administration.


TABLE B-43.—Employees on nonagriculturalpayrolls, by major industry, 1946-88

[Thousands of persons; monthly data seasonally adjusted]

Year or month

1946.... ....1947194819491950 ..19511952 ...1953195419551956 . .195719581959196019611962196319641965196619671968 .. .196919701971197219731974197519761977197819791980....19811982198319841985..19861987... .1987: Jan

FebMarAprMayJune :JulyAug::::Sept .... . ...OctNovDec

1988: JanFebMarAprMay...JuneJulyAugSeptOctNov "

Total

41,65243,85744,86643,75445,19747,81948,79350,20248,99050,64152,36952,85351,32453,26854,18953,99955,54956,65358,28360,76563,90165,80367,89770,38470,88071,21473,67576,79078,26576,94579,38282,47186,69789,82390,40691,15689,56690,20094,49697,51999,525102,310100,795101,016101,260101,615101,829102,078102,430102,672102,906103,371103,678104,001104,262104,729105,020105,281105,489106,057106,271106,425106,737106,975107,438

Goods-producing industries

Total

17,24818,50918,77417,56518,50619,95920,19821,07419,75120,51321,10420,96419,51320,41120,43419,85720,45120,64021,00521,92623,15823,30823,73724,36123,57822,93523,66824,89324,79422,60023,35224,34625,58526,46125,65825,49723,81323,33424,72724,85924,55824,78424,50124,53324,53624,59624,65324,68424,78824,85124,90225,02525,12325,20125,18025,27125,33025,43525,46625,59225,66325,63925,64825,74125,860

Mining

862955994930901929898866791792822828751732712672650635634632627613606619623609628642697752779813851958

1,0271,1391,128952966927777721704703705711716719722728734740736735728731733737739740740739734729722

Con-struction

1,6832,009

. 2,1982,1942,3642,6372,6682,6592,6462,8393,0392,9622,8173,0042,9262,8592,9483,0103,0973,2323,3173,2483,3503,5753,5883,7043,8894,0974,0203,5253,5763,8514,2294,4634,3464,1883,9053,9484,3834,6734,8164,9984,9274,9284,9184,9434,9674,9834,9975,0125,0125,0605,0905,1185,0835,1505,1925,2385,2375,3085,3305,3405,3655,3645,419

Manufacturing

Total

14,70315,54515,58214,44115,24116,39316,63217,54916,31416,88217,24317,17415,94516,67516,79616,32616,85316,99517,27418,06219,21419,44719,78120,16719,36718,62319,15120,15420,07718,32318,99719,68220,50521,04020,28520,17018,78118,43419,37819,26018,96519,06518,87018,90218,91318,94218,97018,98219,06919,11119,15619,22519,29719,34819,36919,39019,40519,46019,49019,54419,59319,56019,54919,64819,719

Durablegoods

7,7428,3858,3267,4898,0949,0899,34910,1109,129'9,5419,8339,8558,8299,3739,4599,0709,4809,6169,81610,40511,28211,43911,62611,89511,20810,63611,04911,89111,92510,68811,07711,59712,27412,76012,18712,10911,03910,73211,50511,49011,23011,21811,11411,13811,13511,14611,15911,16611,19011,24611,26911,31511,35511,39011,39311,40411,41111,45911,47711,51511,56611,54711,53711,59511,642

Nondura-ble goods

6,9627,1597,2566,9537,1477,3047,2847,4387,1857,3417,4117,3217,1167,3037,3377,2567,3737,3807,4587,6567,9308,0078,1558,2728,1587,9878,1028,2628,1527,6357,9208,0868,2318,2808,0988,0617,7417,7027,8737,7707,7347,8477,7567,7647,7787,7967,8117,8167,8797,8657,8877,9107,9427,9587,9767,9867,9948,0018,0138,0298,0278,0138,0128,0538,077



TABLE B-43-—Employees on nonagricultural payrolls, by major industry, 1946-88—Continued

[Thousands of persons; monthly data seasonally adjusted]

Year or month

1946194719481949195019511952195319541955195619571958 .... .. ..1959I9601961196219631964196519661967196819691970197119721973 '.197419751976 ....197719781979198019811982198319841985198619871987- Jan

FebMarAprMayJuneJuly ....AugSeptOctNovDec

1988- JanFebMarAprMay .... .. .JuneJulyAugSeptOctNov*

Service-producing industries

Total

24,40425,34826,09226,18926,69127,86028,59529,12829,23930,12831,26631,88931,81132,85733,75534,14235,09836,01337,27838,83940,74342,49544,16046,02347,30248,27850,00751,89753,47154,34556,03058,12561,11363,36364,74865,65965,75366,86669,76972,66074,96777,52576,29476,48376,72477,01977,17677,39477,64277,82178,00478,34678,55578,80079,08279,45879,69079,84680,02380,46580,60880,78681,08981,23481,578

Trans-portation

andpublic

utilities

4,0614,1664,1894,0014,0344,2264,2484,2904,0844,1414,2444,2413,9764,0114,0043,9033,9063,9033,9514,0364,1584,2684,3184,4424,5154,4764,5414,6564,7254,5424,5824,7134,9235,1365,1465,1655,0824,9545,1595,2385,2555,3855,3045,3165,3315,3545,3565,3635,3735,3945,4275,4485,4665,4815,4995,5135,5305,5435,5565,5825,5985,6055,6185,6235,662

Whole-sale

trade

2,2912,4712,6052,6022,6352,7272,8122,8542,8672,9263,0183,0282,9803,0823,1433,1333,1983,2483,3373,4663,5973,6893,7793,9073,9934,0014,1134,2774,4334,4154,5464,7084,9695,2045,2755,3585,2785,2685,5555,7175,7535,8725,7785,7975,8075,8295,8415,8605,8745,8925,9145,9355,9585,9846,0106,0356,0616,0896,1156,1486,1746,1926,2196,2426,270

Retailtrade

6,0846,4856,6676,6626,7517,0157,1927,3937,3687,6107,8407,8587,7708,0458,2488,2048,3688,5308,8239,2509,6489,917

10,32010,79811,04711,35111,83612,32912,55412,64513,20913,80814,57314,98915,03515,18915,17915,61316,54517,35617,93018,50918,21018,27918,32718,39418,41718,48118,54318,56918,60518,70518,76118,78418,92719,04519,05019,09319,13019,20519,26119,27919,29119,32919,348

Finance,insur-ance,

and realestate

1,6751,7281,8001,8281,8881,9562,0352,1112,2002,2982,3892,4382,4812,5492,6292,6882,7542,8302,9112,9773,0583,1853,3373,5123,6453,7723,9084,0464,1484,1654,2714,4674,7244,9755,1605,2985,3415,4685,6895,9556,2836.5496,4456,4666,4916,5186,5396,5536,5706,5816,5886,6046,6086,6196,6336,6366,6516,6506,6566,6796,6846,6896,6926,7106,729

Services

4,6975,0255,1815,2405,3575,5475,6995,8355,9696,2406,4976,7086,7657,0877,3787,6207,9828,2778,6609,0369,498

10,04510,56711,16911,54811,79712,27612,85713,44113,89214,55115,30316,25217,11217,89018,61919,03619,69420,79722,00023,05324,19623,66823,74323,85823,96224,05324,15324,27324,36924,41524,52424,60424,72524,79524,97525,07825,16325,21625,47225,56125,66225,73725,81426,008

Government

Total

5,5955,4745,6505,8566,0266,3896,6096,6456,7516,9147,2787,6167,8398,0838,3538,5948,8909,2259,596

10,07410,78411,39111,83912,19512,55412,88113,33413,73214,17014,68614,87115,12715,67215,94716,24116,03115,83715,86916,02416,39416,69317,01516,88916,88216,91016,96216,97016,98417,00917,01617,05517,13017,15817,20717,21817,25417,32017,30817,35017,37917,33017,35917,53217,51617,561

Federal

2,2541,8921,8631,9081,9282,3022,4202,3052,1882,1872,2092,2172,1912,2332,2702,2792,3402,3582,3482,3782^642,7192,7372,7582,7312,6962,6842,6632,7242,7482,7332,7272,7532,7732,8662,7722,7392,7742,8072,8752,8992,9432,909.2,9142,9232,9302,9362,9392,9412,9439,9622,9662,9742,9802,9732,9722,9702,9632,9572,9512,9512,9562,9892,9902,991

Stateand

local

3,3413,5823,7873,9484,0984,0874,1884,3404,5634,7275,0695,3995,6485,8506,0836,3156,5506,8687,2487,6968,2208,6729,1029,4379,823

10,18510,64911,06811,44611,93712,13812,39912,91913,17413,37513,25913,09813,09613,21613,51913,79414,07213,98013,96813,98714,03214,03414,04514,06814,07314,09314,16414,18414,22714,24514,28214,35014,34514,39314,42814,37914,40314,54314,52614,570

Mote,— Data in Tables B-43 through B-45 are based on reports from employing establishments and relate to full- and part-time wageand salary workers in nonagricultural establishments who received pay for any part of the pay period which includes the 12th of themonth. Not comparable with labor force data (Tables B-32 through B-41) which include proprietors, self-employed persons, domesticservants, and unpaid family workers; which count persons as employed when they are not at work because of industrial disputes, badweather, etc., even if they are not paid for the time off; and which are based on a sample of the working-age population. Fordescription and details of the various establishment data, see "Employment and Earnings."



TABLE B-44.—Average weekly hours and hourly earnings in selected private nonagricultural industries,

1947-88

[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]

Year ormonth

1947.194819491950195119521953195419551956195719581959..19601961..1962196319641965..196619671968196919701971..1972.1973.. .1974..19751976.19771978..19791980..19811982..19831984..1985..19861987..

1987: JanFebMarAorMay ....June....


1988: JanFebMarAprMay ....June....

JulyAugSept....OctNov P..

Average weekly hours

Totalprivate

non-agricul-tural '

40.340.039.439.839.939.939.639.139.639.338.838.539.038.638.638.738.838.738.838.638.037.837.737.136.937.036.936.536.136.136.035.835.735.335.234.835.035.234.934.834.8

34.734.834.834.734.834.7

34.834.834.634.934.834.6

34.734.834.634.934.734.7

34.934.634.734.934.7

Manufac-turing

40.440.039.140.540.640.740.539.640.740.439.839.240.339.739.840.440.540.741.241.440.640.740.639.839.940.540.740.039.540.140.340.440.239.739.838.940.140.740.540.741.0

40.941.141.040.741.041.0

41.041.040.641.241.241.0

41.141.040.941.241.041.1

41.141.041.241.241.2

Con-struction

38.238.137.737.438.138.937.937.237.137.537.036.837.036.736.937.037.337.237.437.637.737.337,937.337,236.536.836,636.436.836.536.837.037,036.936.737.137.837.737.437.8

38.238.137.837.537.937.7

37.737.835.938.237.938.0

36.937.337.838.037.638.3

37.737,737,838.338.4

Retailtrade

40.340.240.440.440.439.839.139.239.038.638.138.138.238.037.637.437.337.036.635.935.334.734.233.833.733.433.132.732.432.131.631.030.630.230.129.929.829.829.429.229.2

29.029.329.329.529.329.2

29.329.429.529.229.228.8

29.029.129.029.229.029.1

29.329.028.929.229.0

Average hourly earnings

Totalprivate

non-agricul-tural *

$1.1311.2251.2751.3351.451.521.611.651.711.801.891.952.022.092.142.222.282.362.462.562.682.853.043.233.453.703.944.244.534.865.255.696.166.667.257.688.028.328.578.768.98

8.868.888.898.918.958.95

8.969.019.029.079.109.11

9.149.139.169.239.279.27

9.329.329.379.439.42

Manufac-turing

$1.2161.3271.3761.4391.561.641.741.781.851.952.042.10

. 2.192.262.322.392.452.532.612.712.823.013.193.353.573.824.094.424.835.225.686.176.707.277.998.498.839.199.549.739.91

9.809.839.849.869.889.89

9.889.94

10.009.99

10.0010.01

10.0210.0310.0510.1110.1510.18

10.1710.2010.2610.2810.29

Con-struction

$1.5401.7121.7921.8632.022.132.282.382.452.572.712.822.933.073.203.313.413.553.703.894.114.414.795.245.696.066.416.817.317.718.108.669.279.94

10.8211.6311.9412.1312.3212.4812.69

12.5512.5512.6612.6712.7012.74

12.7112.7212.7012.7212.8112.74

12.9112.8212.9012.9312.9112.93

13.0312.9913.0413.0413.04

Retailtrade

$0.838.901.951.983

1.061.091.161.201.251.301.371.421.471.521.561.631.681.751.821.912.012.162.302.442.602.752.913.143.363.573.854.204.534.885.255.485.745.855.946.036.11

6.056.056.056.086.096.10

6.126.136.186.166.176.19

6.206.206.226.256.286.29

6.336.326.346.386.43

Adjusted hourly earnings, totalprivate nonagricultural2

Index,1977-100

Currentdollars

21.623.424.525.427.328.730.331.332.434.035.737.238.539.841.042.443.644.846.448.450.853.957.561.365.769.874.180.086.792.9

100.0108.2116.8127.3138.9148.5155.4160.3165.2169.4173.5

171.3171.9172.1172.5172.9172.9

173.2174.1174.6174.9175.6175.7

176.6176.7177.0178.0178.7178.6

179.3179.5180.3181.5181.5

1977dollars3

58.558.962.364.063.665.568.770.573.375.976.978.080.081.483.085.086.387.589.090.392.294.095.095.798.3

101.2101.198.397.699.0

100.0100.597.493.592.693.494.894.694.195.094.0

94.794.734.494.194.093.7

93.793.893.793.593.893.7

93.893.793.593.693.693.2

93.292.993.093.193.0

Percent changefrom a year

earlier*

Currentdollars

8.34.73.77.55.15.63.33.54.95.04.23.53.43.03.42.82.83.64.35.06.16.76.67.26.26.28.08.47.27.68.27.99.09.16.94.63.23.12.52.4

2.32.22.22.42.42.2

2.32.72.82.72.62.7

3.12.82.93.23.43.3

3.53.13.33.83.3

1977dollars

0.75.82.7- .63.04.92.64.03.51.31.42.61.82.02.41.51.41.71.52.12.01.1.7

2.73.0-.1

-2.8

~l.A1.0.5

=3.1-4.0-1.0

.91.5

~'.51.0

-1.1

1.2

-'.6-1.3-U-1.4

-1.5-1.6-1.5-1.8-1.9-1.7

-1.0-1.0= .9-.6

='.6

—5-.9-.8= .4-.9

1 Also includes other private industry groups shown in Table B-43.2 Adjusted for overtime (in manufacturing only) and for interindustry employment shifts.3 Current-dollar index divided by the consumer price index for urban wage earners and clerical workers on a 1977=100 base.4 Monthly percent changes are computed from indexes to two decimal places and are based on data not seasonally adjusted.Note.-See Note, Table B-43.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-45.—Average weekly earnings in selected private nonagricultural industries, 1947-88

[For production or nonsupervisory workers; monthly data seasonally adjusted, except as noted]

Year or month

194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976 .1977 , . . . .19781979

19801981198219831984198519861987 .1987- Jan

FebMarAprMayJuneJulyAugSeptOctNovDec

1988- JanFebMarApr . ..MayJuneJulyAugSeotOctNov "

Average weekly earnings

Total privatenonagr icul tura l 1

Currentdollars

$45.5849.0050.2453.1357.8660.6563.7664.5267.7270.7473.3375.0878,7880.6782.6085.9188.4691.3395.4598.82

101.84107.73114.61119.83127.31136.90145.39154.76163.53175.45189.00203.70219.91235.10255.20267.26280.70292.86299.09304.85312.50307.44309.02309.37309.18311.46310.57311.81313.55312.09316.54316.68315.21317.16317.72316.94322.13321.67321.67325.27322.47325.14329.11326.87

1977dollars2

$123.52123.43127.84133.83134.87138.47144.58145.32153.21157.90158.04157.40163.78164.97167.21172.16175.17178.38183.21184.37184.83187.68189.44186.94190.58198.41198.35190.12184.16186.85189.00189.31183.41172.74170.13168.09171.26172.78170.42171.07169.28169.95170.26169.70168.67169.36168.33168.64168.85167.52169.27169.08168.02168.43168.46167.43169.36168.41167.89169.06166.82167.68168.86167.45

Manufac-turing

(currentdollars)

$49.1353.0853.8058.2863.3466.7570.4770.4975.3078.7881.1982.3288.2689.7292.3496.5699.23

102.97107.53112.19114.49122.51129.51133.33142.44154.71166.46176.80190.79209.32228.90249.27269.34288.62318.00330.26354.08374.03386.37396.01406.31400.82404.01403.44401.30405.08405.49405.08407.54406.00411.59412.00410.41411.82411.23411.05416.53416.15418.40417.99418.20422.71

-^423.54423.95

Construc-tion

(currentdollars)

$58.8365.2367.5669.6876.9682.8686.4188.5490.9096.38

100.27103.78108.41112,67118,08122,47127.19132.06138.38146.26154.95164.49181.54195.45211,67221.19235.89249.25266.08283.73295.65318.69342.99367.78399.26426.82442.97458.51464.46466.75479.68479.41478.16478.55475.13481.33480.30479.17480.82455.93485.90485.50484.12476.38478.19487.62491.34485.42495.22491.23489.72492.91499,43500.74

Retailtrade

(currentdollars)

$33.7736.2238.4239.7142.8243.3845.3647.0448.7550.1852.2054.1056.1557.7658.6660.9662.6664.7566.6168.5770.9574.9578.6682.4787.6291.8596.32

102.68108.86114.60121.66130.20138.62147.38158.03163.85171.05174.33174.64176.08178.41175.45177.27177.27179.36178.44178.12179.32180.22182.31179.87180.16178.27179.80180.42180.38182.50182.12183.04185.47183.28183.23186.30186.47

Percent change froma year earlier, total

privatenonagricultural3

Currentdollars

7.52.55.88.94.85.11.25.04.53.72.44.92.42.44.03.03.24.53.53.15.86.44.66.27.56.26.45.77.37.77.88.06.98.54.75.04.32.11.92.51.22.41.71.92.72.52.63.12.43.53.23.03.12.82.44.23.13.34.22.84.24.13.2

1977dollars

-0.13.64.7.8

2.74,4.5

5.43.1

.14

4.1.7

1.43.01.71.82.7

.6

.21.5.9

-1.31.94.1-.0

-4.1-3.1

1.51.2.2

-3.1-5.8-1.5-1.2

1.9.9

= 1.4.4

-1.0.1

-U-1.8-1.0= 1.1-1.3= 1.2-1.8= 1.0-1.3= 1.4

.9-1.0= 1.3

.4

.7-.5

.2= 1.2-.0= .1

-1.0

1 Also includes other private industry groups shown in Table B-43.2 Earnings in current dollars divided by the consumer price index for urban wage earners and clerical workers on a 1977 = 100 base.3 Based on data not seasonally adjusted.

Note.—See Note, Table B-43.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-46.—Productivity and related data, business sector, 1947-88

[1977=100; quarterly data seasonally adjusted]

Year orquarter

194719481949

19501951195219531954

19551956195719581959

I9601961196219631964

19651966196719681969 . , .

19701971197219731974

19751976197719781979

19801981198219831984

198519861987

1982: IV1983: IV1984: IV1985: IV

1986:1||IIIIV

1987:1I I . .IllIV

1988:1||III

Output per hourof all persons

Busi-ness

sector

44.947.247.7

51.753.855.457.558.4

60.160.962.564.466.5

67.670.072.575.478.7

81.083.285.587.887.8

88.491.394.195.993.9

95.798.3

100.0100.899.6

99.3100.7100.3103.0105.5

107.7110.1111.0

101.0103.8105.9108.5

110.5110.4110.0109.8

109.9110.6111,7111.8

112.8111.8112.2

Nonfarmbusinesssector

51.453.354.2

57.759.460.762.163.0

64.865.266.568.070.2

71.073.275.678.381.4

83.485.287.189.489.0

89.391.994.796.494.3

96.098.5

100.0100.899.3

98.899.899.2

102.5104.6

106.1. 108.2109.0

99.7103.3104.9106.5

108.6108.4108.0107.8

107.8108.6109.6109.9

110.8110.1110.6

Output *

Busi-ness

sector

36.238.337.4

41.043.945.347.446.5

49.751.151.750.754.4

55.456.559.462.165.9

70.073.675.678.981.1

80.382.587.792.991.3

89.494.5

100.0105.8107.9

106.7108.9105.5109.9119.2

124.2128.6133.3

105.0113.6120.8125.9

128.4128.2128.5129.3

130.5132.2134.3136.2

138.0138.8139.7


35.237.236.4

39.943.044.446.445.5

48.750.250.949.853.7

54.655.758.761.565.4

69.573.475.378.880.9

80.082.287.592.991.2

89.194.4

100.0106.0107.9

106.7108.5104.9110.1119.2

123.9128.2133.0

104.2114.1120.7125.5

128.1127.8128.1128.8

130.1131.9134.1136.0

137.9139.2140.4

Hours of allpersons2

Busi-ness

sector

80.681.278.5

79.381.681.782.579.7

82.783.982.778.881.8

81.980.781.982.483.7

86.488.588.589.992.3

90.890.493.296.997.3

93.496.1

100.0104.9108.3

107.5108.2105.2106.8112.9

115.3116.8120.1

103.9109.4114.0116.1

116.2116.1116.8117.8

118.8119.5120.3121.8

122.3124.1124.5

Nonfarmbusiness

68.669.867.0

69.172.373.074.872.2

75.177.076.673.376.4

76.976.077.678.580.3

83.386.286.488.190.9

89.789.492.396.396.7

92.895.9

100.0105.1108.7

108.0108.7105.7107.5114.0

116.8118.5122.1

104.5110.4115.1117.9

117.9117.9118.6119.5

120.7121.5122.3123.8

124.4126.4126.9

Compensationper hour3

Busi-ness

sector

16.618.118.4

19.721.623.024.625.3

26.027.729.530.932.2

33.634.936.637.939.9

41.544.346.750.453.9

57.861.665.570.977.6

85.292.8

100.0108.5119.1

131.5143.7154.9161.4167.9

175.5183.1190.4

158.3163.6170.3178.8

180.4182.0184.0186.2

187.3189.0191.1194.0

195.8198.1201.0


18.019.620.2

21.423.324.626.026.8

27.829.531.232.533.8

35.336.538.039.341.1

42.545.047.551.154.4

58.262.066.071.278.0

85.692.8

100.0108.6118.9

131.3143.6154.8161.5167.8

174.9182.3189.4

158.2163.4170.2177.9

179.8181.2183.1185.4

186.4187.9190.0192.9

194.6196.6199.4

Real compensationper hour4

Busi-ness

sector

45.245.446.8

49.650.552.655.757.1

58.861.863.764.867.2

68.970.873.475.178.0

79.882.984.887.889.0

90.392.194.996.895.4

96.098.8

100.0100.999.4

96.795.897.398.297.9

98.8101.2101.5

98.098.198.199.4

100.0101.2101.7102.2

101.5101.2101.4102.0

102.1102.1102.4


49.049.251.4

53.854.356.259.060.4

62.965.867.368.170.4

72.373.976.277.880.4

81.884.286.289.089.9

90.992.895.797.295.9

96.498.9

100.0100.999.2

96.695.897.298.397.9

98.5100.8101.0

97.997.998.199.0

99.6100.7101.2101.8

101.0100.6100.8101.4

101.5101.3101.5

Unit labor costs

Busi-ness

sector

37.038.338.5

38.140.341.542.743.4

43.245.547.248.048.5

49.749.950.450.350.7

51.253.354.757.461.4

65.467.469.673.982.7

89.094.3

100.0107.6119.5

132.5142.7154.5156.7159.1

162.9166.3171.5

156.8157.6160.7164.8

163.3164.9167.3169.6

170.5170.8171.1173.5

173.5177.1179.1


35.136.737.2

37.139.240.541.942.6

42.945.347.047.748.2

49.749.850.250.250.5

50.952.854.557.161.2

65.267.469.773.982.7

89.294.3

100.0107.7119.7

132.9144.0156.0157.6160.4

164.9168.6173.8

158.7158.2162.3167.1

165.5167.1169.5172.1

172.9173.0173.3175.6

175.7178.6180.2

Implicit pricedeflator6

Busi-ness

sector

35.538.037.8

38.440.841.441.742.2

43.244.646.246.947.8

48.548.849.750.250.7

51.953.654.957.560.4

63.266.469.073.480.5

88.794.0

100.0107.3117.0

127.6139.8148.1153.0158.2

162.2165.8170.5

150.2155.2159.8163.7

163.7165.0167.0167.5

16S.7170.1171.2171.9

172.3174.7176.7

Nofifarmbusinesssector

34.036.436.9

37.539.640.441.141.8

43.144.546.146.647.8

48.548.849.750.250.8

51.9

51560.4

63.466.669.072.379.7

88.393.8

100.0107.0116.5

127.8140.3149.2154.3159.0

163.8167.8172.5

151.4156.2161.0165.5

165.7167.0169.0169.5

170.9171.9173.2174.0

174.2176.2177.9

1 Output refers to gross domestic product originating in the sector in 1982 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily onestablishment data.

3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, ana supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.6 Current dollar gross domestic product divided by constant dollar gross domestic product.



TABLE B-47.—Changes in productivity and related data, business sector, 1948-88

[Percent change from preceding period; quarterly data at seasonally adjusted annual rates]

Year orquarter

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

19851986....1987

1982: IV1983: IV1984: IV1985: IV

1986:1III l lIV

1987:1IIIllIV

1988:1III l l

Output per hourof all persons

Busi-ness

sector

501.1

834.03.1

i!e301.32.63.03.3

173^53.64.04.3

3.02.82.72.7.1

.73.23.02.0

-2.1

2.02.81.7.8

-1.2

-.31.4

-.42.72.5

2.12.2.8

3.03.11.7.7

7.7-.4

-1.4-.8

.32.73.9

.6

3.5-3.4

1.5


3817

643.0222'21.5

29.6

1.92.43.2

113.13.33,63.9

2.52.12.32.6-.5

.33.03.11.8

-2.2

1.82.61.6.8

-1.6

-.41.0

-.6. 3.3

2.1

1.42.0.8

2.41.41.2.2

8.4-.8

-1.5-.9

.03.23.7

.9

3.4-2.4

1.9

Output1

Busi-ness

sector

59-2.3

957.1324.6

-1.8

692.81.1

-1.87.3

181.95.24.66.0

6.35.22.74.42.7

-.92.76.36.0

-1.8

-2.15.85.85.82.0

-1.12.1

-3.14.28.4

4.23.53.6

-.510.43.53.6

8.3-.8

.92.5

3.75.36.65.7

5.52.42.6


56-2.3

9.77.73.24.6

-2.0

7.13.11.3

-2.07.7

1.72.0554.76.3

6.45.62.54.72.7

-1.12.76.46.2

-1.8

-2.36.05.96.01.9

-1.21.7

-3.35.08.3

3.93.53.8

-1.29.83.13.5

8.5-.8

.82.4

4.05.76.85.9

5.64.03.4

Hours of allpersons2

Busi-ness

sector

08-3.4

1.12.9.1.9

-3.4

3.71.5

-1.5-4.7

3.8

.1-1.6

1.6.6

1.6

3.22.4-.01.72.6

-1.6-.53.13.9.4

-4.02.94.04.93.2

-.8.7

-2.81.55.7

2.11.32.8

-3.47.11.82.9

.6-.42.33.4

3.42.52.65.1

1.96.01.1


17-3^9

3.04.61.02.4

-3.4

4.02.5-.6

-4.34.3

.6-1.1

2.11.12.3

3.83.4

.32.03.2

-1.3-.33.34.3

.4

-4.03.44.35.13.5

-.7.7

-2.71.66.0

1 5s!o-3.5

8.21.93.4

.0-.02.43.3

4.02.52.94.9

2.16.61.5

Compensation perhour3

Busi-ness

sector

851.7

7.39.86.36.73.2

2.56.76.54.64.4

4.33.94.73.85.2

3.86.95.47.97.0

7.36.46.48.39.5

9.78.97.88.59.7

10.59.27.84.24.1

4.54.34.0

4.55.53.85.4

3.73.74.44.8

2.53.64.66.2

3.74.86.1


853.0

6.18.75.65.73.3

3.66.25.74.14.1

443.3413.54.6

3.45.95.57.66.6

7.06.56.57.99.6

9.78.47.78.69.5

10.59.47.84.339

4.24.23.8

5.04.33.95.1

4.33.24.35.1

2.13.44.56.4

3.54.25.6

Real compensationper hour4

Busi-ness

sector

043.0

601.84.35.92.5

2.95.13.11.73.6

252.83.62.43.9

2.24.02.23.51.5

1.52.03.11.9

-1.4

.62.91.2.9

-1.5

-2.7-1.0

1.6.92

.92.4.3

3.21.4.6

1.3

2.15.12.02.1

-2.8-1.2

.82.4

.3

.01.3


044.3

4.8.8

364.92.5

4.04.62.41.23.4

262.2312.23.3

1.73.02.33.21.0

1.22.03.21.6

-1.3

.52.51.2.9

-1.7

-2.7-.81.51.1

4

.62.3.2

3.8.2.7

1.0

2.74.61.92.3

-3.2-1.4

.62.6

.1-.5

.8

Unit labor costs

Busi-ness

sector

33.6

-.95.6313.01.6

-.55.33.81.61.0

2.6.3

1.1-.2

.8

.94.12.65.06.9

6.53.13.36.2

11.9

7.65.96.07.6

11.1

10.97.78.31.41.5

2.42.13.1

1.52.32.14.7

-3.74.15.85.7

2.2.8.7

5.6

.28.54.5


461.3

-.35.63.33.51.8

.75.53.81.6.9

3.3.1.8

-.1.7

.83.73.24.87.1

6.73.43.46.0

12.0

7.85.76.17.7

11.2

11.08.38.41.01.8

2.82.23.1

2.62.82.74.9

-3.84.05.96.1

2.1.2.7

5.4

.f6.83.7

Implicit pricedeflator5

Busi-ness

sector

7.2-.6

1.56.31.37

1.2

263.23.51.62.0

1.4.5

1.9.9

1.0

2.33.32.54.65.1

4.74.94.06.49.6

10.35.96.47.39.0

9.09.65.93.33.3

2.52.32.8

2.44.82.72.6

.13.25.01.1

3.03.22.81.4

1.05.84.5


7.21.3

1.85.62.01.81.5

3.23.33.61.22.5

1.4.6

2.0.9

1.2

2.03.12.94.65.0

4.95.03.64.8

10.2

10.86.36.67.08.9

9.79.76.33.53.0

3.02.42.8

3.03.13.32.1

.43.05.11.2

3.32.33.11.8

.6473.8

1 Output refers to gross domestic product originating in the sector in 1982 dollars.2 Hours of all persons engaged in the sector, including hours of proprietors and unpaid family workers. Estimates based primarily onestablishment data.3 Wages and salaries of employees plus employers' contributions for social insurance and private benefit plans. Also includes anestimate of wages, salaries, and supplemental payments for the self-employed.4 Hourly compensation divided by the consumer price index for all urban consumers.6 Current dollar gross domestic product divided by constant dollar gross domestic product.

Note.—Percent changes are based on original data and therefore may differ slightly from percent changes based on indexes in TableB-46.



PRODUCTION AND BUSINESS ACTIVITY

TABLE B-48.—Industrial production indexes, major indttstry divisions, 1939-88

[1977 = 100; monthly data seasonally adjusted]

Year or month

1977 proportion

1939194019411942...:19431944 ,194519461947194819491950 . .. .1951195219531954195519561957195819591960196119621963196419651966196719681969197019711972197319741975 .1976197719781979198019811982198319841985198619871987- Jan

FebMarAprMayJuneJulyAugSeptOct..:::::::::::::::"::::::NovDec

1988: JanFebMarAprMay:::::::::::::::::JuneJulyAugSeptOct "N o v "

Totalindustrial

production

100.00

16.018423326.732434.929925.829030.228633135937240.438243.044945.542647.748849153256360.166172.073577.681278.5796873944930848926

10001065110710861110103 1109212141237125 112981262127.112741274128.212911306131 2131013251332133913441344134713541361136513801385138613931399

Total

84.21

15.818623827.734537.331225.928930.028333.035637.140.437842.644444.941747.048048.152455559.365771.773177.280677.0782864940926834919

1000107.11115108211051022110212341264129 113471307131.613241324133.2134013561359135713731379138913941395140014081418142114361440144414531460

Manufactur ing

Dura-ble

49.10

13.618124.230.741846.134924.429030.327533.537740.045.239945.647.147.441547.748547652856360.368676.277080.884077.677386396394382691.1

1000108.21139109.1111 1999

107712421276128413311293130.813151309131.413201335133813371368136713731379138413881397141 5141 714291432143814471454

I

Non-durable

35.11

17.918822.723.725426.426327.128229.228731.933033635.035239.141141.842146.347448851854658.262166.068172.576376379486590890284593.1

1000105.51082107.010971055113712231246130113681327132913371346135.713691385138813861381139614131414141 1141714231421142614461451145314621468

Min

ing

9.83

37.641844.445.746.850.249248.354657.450956962461963.562369.573173.267170.271672174177180.283187.689392.7964989964984993988966974

1000103.61064112.4117510931029111 1108910041007994988983986992992992

100910191036104610461033101 5102710471026103010431038103510261032

MHIi

ties

5.96

6.976869.7

10711.411612.013014.515517620121823.625428.431233.334938.441143446649854.157461.864970.276481185090494092893797.4

1000103.11059107.31071104810521107111 11085110310801085107910601096109411121129111211211132111711521156113311101116113211441178112811351140



TABLE B-49.—Industrial production indexes, market groupings, 1947-88

[1977-100; monthly data seasonally adjusted]

Year or month

1977 proportion

1947194819491950 ....195119521953195419551956195719581959 . ...1960 .196119621963196419651966 ....196719681969 =197019711972197319741975197619771978197919801981 ....198219831984 ....19851986 ...19871987: Jan

FebMarAprHayJuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJulyAug$$:::::::::::::::::::::::::Oct»Nov"

Totalindustrial

production

100.00

29.030.228.633.135.937.240.438.243.044.945.542.647.748.849.153.256.360.166.172.073.577.681.278.579.687.394.493.084.892.6

100.0106.5110.7108.6111.0103.1109.2121.4123.7125.1129.8126.2127.1127.4127.4128.2129.1130.6131.2131.0132.5133.2133.9134.4134.4134.7135.4136.1136.5138.0138.5138.6139.6139.9

Final products

Total

44.77

29.030.129.132.935.538.140.738.541.644.145.443.347.549.149.553.756.759.965.872.175.078.681.178.278.985.692.091.786.392.4

100.0106.9111.0112.2115.2109.5114.7127.3131.0132.5136.8133.3134.8135.1134.5135.5136.2137.9138.4137.8139.3139.2139.8141.1141.6141.8142.5143.5144.0145.0145.8145.8146.7146.9

Consumer goods

Total *

25.52

29.930.830.635.034.635.437.537.341.643.144.243.848.049.850.954.357.360.565.368:670.374.577.376.480.887.391.288.484.993.3

100.0104.3103.9102.7104.1101.4109.3118.0119.8124.0127.8125.5126.4126.7125.5127.3127.2128.9129.4127.7129.0129.4129.8131.2131.3131.2131.9132.7133.0134.2135.0134.8136.4136.8

Auto-motiveprod-ucts

2.98

25.827.026.733.629.826.833.931.541.934.536.128.736.041.237.645.649.952.364.464.256.467.267.556.872.478.186.274.570.287.1

100.0102.4

94.976.178.878.195.1

109.4114.1115.3118.5116.6122.6121.6115.0118.8114.9117.5118.0114.2124.3121.3115.4118.7117.6120.6121.9127.1127.1124.4124.2126.3128.6129.8

Homegoods

3.91

26.127.225.234.729.929.933.931.336.938.838.035.841.141.442.746.450.054.661.968.269.174.078.976.581.092.798.190.779.989.5

100.0104.7103.7

97.798.186.5

101.1114.3111.2115.8121.6120.5119.8118.4118.1121.2119.3122.5123.6121.9124.3125.8123.9124.0122.8120.2124.3124.4123.9125.9126.8126.3129.4128.2

Equipment

Total2

19.25

25.526.824.026.036.143.347.041.142.046.148.042.947.248.447.853.256.359.667.378.483.485.888.181.876.683.893.696.688.591.5

100.0110.3120.4124.7129.9120.2121.7139.6145.8143.6148.9143.5146.0146.2146.4146.3148.1149.7150.2151.2153.0152.2153.1154.3155.3155.9156.5157.7158.5159.4160.1160.4160.2160.4

Busi-ness

14.34

25.927.023.625.230.834.936.331.934.640.141.735.239.540.639.442.844.950.357.666.768.071.075.672.969.379.092.496.586.189.3

100.0112.2124.7125.1127.6113.6115.4134.2140.2139.5144.5138.6141.7141.9142.1141.7144.2145.6145.6146.3148.7148.3149.8151.2152.4153.3154.6156.9158.1159.3160.2160.8160.7161.3

De-fenseand

space

3.67

15.217.818.621.953.875.790.679.873.171.474.674.978.981.182.495.4

102.999.6

110.3129.6147.8148.1141.0119.4107.3104.3101.9100.498.5

100.1100.0101.2105.6115.4119.8133.0143.1156.4171.4182.0188.9187.3188.9188.6189.2189.3188.6188.7189.1189.8190.3188.7188.9190.6191.0189.9187.9185.5184.6184.9184.9184.6184.4184.3

Inter-mediate

prod-ucts

12.94

29.931.629.934.836.536.338.838.743.945.945.944.949.649.950.954.057.060.764.668.671.475.579.678.480.890.296.092.683.692.1

100.0106.9110.8106.9107.3101.7111.2124.7129.3136.2143.4138.8139.9140.9140.3141.8143.3145.0145.3144.9146.1147.3146.5148.1149.4149.9149.6150.4150.0151.6152.3153.1153.8154.8

Materials

Total3

42.28

28.830.027.332.736.236.740.837.744.645.745.741.147.448.148.152.455.860.367.273.272.577.381.979.080.288.496.894.883.293.0

100.0105.9110.3105.3107.796.7

102.8114.2114.3113.8118.2114.9114.9115.2115.9116.3117.2118.5119.4119.7121.2122.5123.7123.0122.1122.5123.6123.9124.5126.4126.5126.5127.1128.0

Dura-ble

goods

20.50

28.529.326.333.137.638.444.938.747.447.647.540.047.748.347.152.455.960.969.876.974.278.682.775.175.485.297.494.678.890.8

100.0108.8114.4106.1109.794.2

103.7121.5121.7120.0125.0120.5121.3122.3122.2122.6124.0125.2125.5126.4128.7130.2132.0131.8131.4131.3132.7134.8134.9136.8136.6137.9138.8139.7

Non-durablegoods

10.09

III

29"i33.334.834.734.539.440.141.745.247.952.157.261.862.969.174.875.278.486.492.793.282.993.9

100.0105.6109.3103.4107.196.6

106.2111.4112.1117.5125.9121.4120.8121.5124.1123.9124.1127.6128.3128.6128.2129.6132.5129.9128.1130.1131.1130.1130.1132.8133.1132.6133.8134.8

1 Includes clothing and consumer staples, not shown separately.2 Two components— oil and gas well drilling and manufactured homes— are included in total equipment, but not in detail shown.3 Includes energy materials, not shown separately.Source: Board of Governors of the Federal Reserve System.


TABLE B-50.—Industrial production indexes, selected manufactures, 1947-88

[1977=100; monthly data seasonally adjusted]

Year or month

1977 proportion...

1947 . .,1948194919501951195219531954195519561957 ..195819591960196119621963 ....196419651966196719681969197019711972 :Z1973 .19741975 .1976197719781979198019811982198319841985198619871987- Jan

FebMarAprMayJuneJulyAugSeptOc?NovDec

1988- JanFebMar

May"!!"!!"!"JuneJulyAug::::::..:::::SeptOct *Nov*

Durable manufactures

Primarymetals

Total

5.33

57.860.150.563.669.263.271.657.975.374.871.656.866.466.164.969.675.184.793.298.991.494.7

101.994.889.9

100.7114.3110.788.298.7

100.0107.0108.590.495.065.873.082.380.475.181.372.875.177.076.177.078.881.485.184.590.690.290.6

86.586.485.185.389.287.591.590.893.094.394.8

ironandsteel

3.49

70.473.662.977.586.676.287.968.390.889.185.964.774.575.772.375.382.193.4

102.4105.597.5

100.7109.7102.193.4

103.8118.2114.592.0

101.4100.0107.5108.086.392.557.566.173.470.463.470.659.562.365.465.065.768.370.976.074.682.079.781.9

77.877.474.274.578.674.280.278.981.483.7

Fabri-catedmetalprod-ucts

6.46

40.441.237.245.548.647.453.548.255.055.857.251.357.657.656.261.163.167.073.678.882.586.988.481.981.589.499.495.482.791.6

100.0105.7109.4101.8101.686.689.1

102.6107.1108.0111.0108.4108.3110.5109.9108.5111.1111.1110.1111.1113.5113.6115.8

117.1117.6118.8118.8119.8120.4121.7122.1122.6122.9124.3

Non-elec-trical

machin-ery

9.54

26.726.822.925.732.635.536.931.634.639.739.633.238.839.037.942.545.451.758.267.668.969.575.272.867.678.591.797.784.588.8

100.0111.7122.6123.3129.8115.6118.3141.8146.2145.0152.7143.4145.5148.5150.4149.7151.8155.3154.3156.6158.0157.2161.0

162.9163.6164.6167.2170.3171.2173.1174,1175.0175.3176.2

Electri-cal

machin-ery

7.15

14.515.114.119.419.522.325.622.826.128.328.125.731.233.835.941.342.444.953.564.264.568.172.569.369.679.790.789.877.286.8

100.0112.9125.7130.3134.1128.4143.8170.5168.3165.7172.3170.4171.0168.5168.4171.1170.5172.5174.3173.4175.5175.6175.9

177.4177.8176.6178.7179.1179.5181.5182.2181.7183.1182.8

Transportationequipment

Total

9.1326.629.029.234.938.945.256.849.456.855.159.046.552.754.651.359.365.166.879.485.1.83.290.489.775.381.587.099.190.181.092.2

100.0106.3108.396.995.187.699.2

112.2122.8127.5129.2129.0132.7132.2127.8129.4126.5127.6128.1125.5132.0130.4128.1

128.6128.4130.0130.4133.1132.8131.9131.8132.6134.3135.4

Motorvehicles

andparts

5.25

28.831.232.041.237.832.440.835.147.138.240.129.638.543.438.146.351.352.767.366.258.269.770.056.370.677.189.877.565.786.5

100.0104.695.971.171.666.885.8

104.4111.9111.5111.8112.0117.7116.5109.8112.0107.4109.4109.1105.6116.0114.0110.2

109.7109.3113.0114.8119.6119.1116.6117.5118.5121.4122.8

Lumberand

prod-ucts

2.3047.249.143.352.752.551.854.854.560.860.155.256.063.659.862.666.169.274.377.280.179.381.681.581.183.295.395.686.880.891.9

100.0102.4102.092.990.182.8

100.2109.1H4.3124.1130.3128.5129.6128.9127.8130.3131.1132.8131.1126.9129.8134.0133.6

136.3139.0137.8138.0139.8136.4136.6133.8133.5136.9

Nondurable manufactures

Apparelprod-ucts

2.79

47.049.148.652.351.354.054.754.159.761.160.959.265.266.566.969.672.575.079.381.380.982.985.682.283.288.389.085.077.691.5

100.0103.198.397.396.187.395.3

102.7100.4103.1107.4106.1106.5105.4105.3106.4107.7109.7108.4107.6108.0109.4107.8

108.7108.5108.7109.2108.6109.3109.4108.9109.6

Textilemill

prod-ucts

2.29

38.541.138.043.242.842.443.540.746.447.745.544.850.749.851.254.756.761.266.670.770.778.983.081.285.793.997.889.084.894.2

100.0102.8104.4100.898.189.2

100.9104.2102.2109.2115.9109.2110.8112.6116.6115.7117.2118.3119.8118.2116.8117.3118.2

116.2115.3117.0117.3114.6114.3117.1116.4115.7115.1

Printingand

publish-ing

4.54

34.336.037.038.839.539.441.242.947.250.251.950.754.156.356.558.661.765.569.775.079.180.484.382.082.788.290.689.283.591.2

100.0107.8112.7115.1118.6120.2129.8146.5151.4160.9172.1166.3164.4167.6169.2171.4174.1174.0174.7174.9175.2175.7176.9

177.5178.7180.4181.8180.7182.3184.9186.7188.7189.3189.2

Chem-icalsand

prod-ucts

8.0510.411.311.113.915.716.517.818.121.122.623.924.728.829.931.434.838.141.746.550,753.059.664.567.171.480.387.891.082.992.8

100.0106.8111.4106.4112.6103.8114.0121.6126.4132.0140.2136.4135.7135.3137.3138.1139.3140.8142.3142.4141.5144.4147.9

147.9145.4146.4148.9149.1150.5153.4154.8155.5156.5

Foods

7.96

41.941.541.943.444.345.246.147.049.852.653.454.757.459.060.762.664.967.869.472.075.277.279.881.083.688.089.891.090.495.6

100.0104.3106.7111.4113.7114.9120.4126.9130.5134.4137.8134.6136.4137.3136.0137.4137.7138.5138.8139.5138.0138.9140.1

141.2141.9141.1140.3141.0141.3143.3143.3143.2144.3



TABLE B-51.—Capacity utilization rates, 1948-88


Year or month

19481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966.196719681969

19701971197219731974

19751976197719781979..

19801981198219831984

198519861987

1987: JanFebMarAprMay

JulvAug:::::::SeptOctNovDec

1988: JanFebMarAor

SEEJ4::=SfciNov "

Totalindustry

87.187.487.4

80.979084.087.983.6

74178.882.484.8852

80.979972.174681.0

80.479.4807

79.279.779.779.679,980.3

81.181.48U8L982.182.4

82.582.482.482.782.983.0

83.783.883.784.084.2

Total

82.574.2

828858854893801

87086.1836750816

80177381483.5856

89591186.787.086.7

79.277.482.887.082.6

72377.481.484.2846

79.378270.373980.5

80.179.7811

79.680.080.380.280.480.8

81.581.581.382.082.282.6

82.782.682.782.983.383.3

84.084.084.084.384.5

Durablegoods

87.086786.1

76.173.379.786.281.6

69674.879.482.9841

77.976766.970378.7

78.577.2784

76.977.677.977.577.677.8

78.678.678.480.179.980.1

80.380.580.680.981.881.7

82.382.382.582.983.1

Manufacturing

Non-durablegoods

86.787.788.0

83.983.587.488.184,2

76.381.484.586.185.3

81.380.675.479.483.3

82.483.584.9

83J83.683.984.284.685.2

85.985.885.584.985.686.4

86.285.785.885.985.485.5

86.486.486.286.486.5

Primaryprocessing

87.376.2

88590.284989.4806

92089.4847754830

79877981.583.8878

91091.485.386.987.7

80.979.586.491.385.4

72.279.383.186.086.6

77.978.167.573.980.9

80.981.884.6

82.782.483.183.583.284.0

85.485.385.186.287.087.6

87.186.686.986.987.086.6

87.887.487.287.688.0

Advancedprocessing

80.073.2

79883.485989.3800

84284.4831749811

80577281683.4846

88891.187.687.086.1

78.376.181.185.181.5

72.676.880.583.183.5

80.078371.774.080.3

79.778.879.4

78.279.079.178.779.279.2

79.879.979.580.180.080.3

80.780.780.781.281.781.7

82.282.482.582.782.9

Mining

82.984687.0

89.087.390.291.491.1

89.289.789.990.390.7

93.292983.477.984.0

82.476.477.8

76.175.875.575.976.576.6

76.878.279.180.681.581.5

80.779.580.682.380.881.2

82.582.282.281.682.2

Utilities

93.293995.6

95.193794.592.886.8

84385.385.185.0856

85.484281.480083.0

82.379.179.5

78.578.878.276.879.279.0

80.281.380.080.581.280.0

82.482.681.079.379.780.8

81.583.980.380.881.0

Industrialmaterials

85.186888.1

81.880486.091 186.1

73480.384.186.3871

81.181271.875382.0

80.378.6805

78.778.778.779.179.379.8

80.681.181.282.182.983.6

83.082.382.482.983.083.2

84.484.384.184.484.8



TABLE B-52.—New construction activity, 1929-88

[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]

Year or month

19291933193919401941194219431944

19451946

New series194719481949

19501951195219531954

1955 ..1956195719581959

I960196119621963

New series

1964

19651966196719681969

19701971197219731974

19751976 ....197719781979

1980 ....1981198219831984

1985 ... .19861987

Totalnew

construc-tion

10.82.98.28.7

12.014.18.35.3

5.814.3

20.026.126.7

33.635.436.839.141.4

46.547.649.150.055.4

54.756.460.264.8

72.6

78.581.883.593.2

100.5

101.3117.9133.9147.4147.8

144.3163.0188.0225.9252.4

251.7260.2246.6281.3328.6

355.7386.1398.9

Private construction

Total

8.31.24.45.16.23.42.02.2

3.412.1

16.721.420.5

26.726.226.027.929.7

34.834.935.134.639.3

38.939.342.345.5

52.4

56.658.058.165.772.7

73.488.2

103.9115.0109.6

102.6122.1148.6178.4200.7

193.3203.6192.9227.5271.0

291.7314.7323.8

Residentialbuildings 1

Total2

3.6.5

2.73.03.51.7.9.8

1.36.2

9.913.112.4

18.115.915.816.618.2

21.920.219.019.824.3

23.023.125.227.9

30.5

30.228.628.734.237.2

35.948.5

!?i56.0

51.668.392.0

109.8116.4

100.499.284.7

125.5153.8

158.5187.1194.8

Newhousing

units

3.0.3

2.32.63.01.4

.7

.6

.74.8

7.810.510.0

15.613.212.913.414.9

18.216.114.715.419.2

17.317.119.421.7

24.1

23.821.821.526.729.2

27.138.750.154.643.4

36.350.872.285.689.3

69.669.457.094.6

113.8

114.7133.2139.9

Nonresidential buildings and otherconstruction l

Total

4.7.8

1.72.12.71.71.11.4

2.15.8

6.98.28.0

8.610.310.211.311.5

12.914.716.114.815.1

15.916.217.217.6

21.8

26.329.429.431.635.5

37.539.743.249.953.7

51.053.856.668.684.3

92.9104.4108.2102.0117.1

133.2127.5129.0

Com-mer-cial3

1.1.1

'.3A.2.0.1

.21.2

1.01.41.2

1.41.51.11.82.2

3.23.63.63.63.9

4.24.75.15.0

6.8

8.18.18.09.0

10.7

11.113.015.417.717.6

13.913.715.719.727.1

32.938.041.441.054.9

66.964.262.8

Indus-trial

0.9.2.3.4.8

'.2.2

.61.7

1.71.41.0

1.12.12.32.22.0

2.43.13.62.42.1

2.92.82.82.9

3.6

5.16.66.06.06.8

6.55.44.76.27.9

8.07.27.7

11.015.0

13.817.017.312.913.7

15.813.713.7

Other*

2.6.5

1.21.31.51.2.9

1.1

1.33.0

4.25.55.9

6.16.76.87.37.2

7.38.09.08.89.0

8.98.79.29.7

11.5

13.114.715.416.617.9

19.921.323.126.028.2

29.133,033.237.942.3

46.249.449.548.148.5

50.549.552.5

Public construction

Total

2.51.63.83.65.8

10.76.33.1

2.42.2

3.34.76.3

6.99.3

10.811.211.7

11.712.714.115.516.1

15.917.117.919.4

20.2

21.923.825.427.427.8

27.929.730.032.338.1

41.740.939.447.551.7

58.556.553.753.857.7

64.171.475.0

Federal

0.2

',B1.23.89.35.62.5

1.7.9

,81.21.5

1.63.04.24.13.4

2.82.73.03.43.7

3.63.93.94.0

3.7

3.93.83.33.23.2

3.13.84.24.75.1

6.16.87.18.18.6

9.610.410.010.611.2

12.012.414.1

State andlocal6

2.31.13.12.42.01.3

!e

M

2.53.54.8

5.26.36.67.18.3

8.910.0n.i12.112.3

12.213.314.015.4

16.5

18.020.022.124.224.6

24.825.925.827.633.0

35.634.132.439.343.1

48.846.143.743.246.4

52.159.061.0



TABLE B-52.—New construction activity, 1929-88—Continued

[Value put in place, billions of dollars; monthly data at seasonally adjusted annual rates]

Year or month

1987: JanFebMar...AprMayJune

JulyAug..::""::SentOct..:::::::::::::::::::::::::::"NovDec


JulyAugSeptOctp

Totalnew

construe-tion :

389.8393.7394.3396.3397.9392.6

398.9398.3405.4400.8407.1410,9

395.3392.5403.6396.2398.5395.7

401.8402,8405.5409.2

Private construction

Total

315.7319.5319.6321.5322.6319.5

323.3325J327.1325.9331.5331.6

321.6317.8324.3318.5320.2317.7

322.5326.2326.5328.4

Residentialbuildings1

Total2

192.9193.3196.4197.2195.8193.5

193.7193.1194.8194.5195.6195.8

195.2192.1195.6192.0190.4188.1

192.8195.8196.9198.9

Newhousingunits

138.1138.9139.5140.2139.3138.6

138.7138.7140.0140.7142.3142.8

140.8138.0139.2138.5137.7136.8

136.4137.2138.5140.0

Nonresidential buildings and otherconstruction *

Total

122.7126.1123.2124.3126.9126.0

129.7132.5132.3131.4135.9135.8

126.4125.7128.7126.5129.8129.6

129.7130.4129.6129.4

Com-mer-cial3

59.462.260.861.062.561.2

63.165.563.763.966.563.3

60.759.961.863.064.263.8

63.162.661.560.5

Indus-trial

12.812.812.312.113.613.8

13.914.315.314.014.514.1

13.513.514.513.813.913.7

13.212.912.713.7

Other4

50.551.150.151.250.851.0

52.652.853.353.554.958.4

52.252.352.349.751.852.2

53.454.955.455.2

Public construction

Total

74.174.374.774.875.273.0

75.672.678.274.975.679.2

73.774.779.377.778.378.0

79.376.779.080.9

Federal

13.111.512.812.614.914.1

15.314.117.213.014.315.8

12.411.814.112.612.314.0

13.213.514.613.4

State andlocal"*

61.062.761.862.260.359,0

60.258.561.161.961.263.5

61.462.965.265.265.964.0

66.163.264.467.5

1 Beginning 1960, farm residential buildings included in residential buildings; prior to I960, included in nonresidential buildings andother construction.2 Includes residential improvements, not shown separately. Prior to 1964, also includes nonhousekeeping units (hotels, motels, etc.)

3 Office buildings, warehouses, stores, restaurants, garages, etc., and, beginning 1964, hotels and motels; prior to 1964 hotels andmotels are included in total residential.

4 Religious, educational, hospital and institutional, miscellaneous nonresidential, farm (see also footnote 1), public utilities, and allother private.

5 Includes Federal grants-in-aid for State and local projects.Source: Department of Commerce, Bureau of the Census.


TABLE B-53.—New housing units started and authorized, 1959-88

[Thousands of units]

Year or month

1959

I9601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987



1988- JanFebMarAprMayJune

JulyAugSeptOct *Nov "

New housing units started

Private and public1

Total( farm andnonfarm)

1,553.7

1,296.11,365,01,492.51,634.91,561.0

1,509.71,195.81,321.91,545.41,499,5

1,469.02,084.52,378.52,057.51,352.5

1,171.41,547.62,001.72,036.11,760.0

1,312.61,100.31,072.11,712.51,755.8

1,745.01,807.11,622.7

105.1102.8141.3159.6158.3163.2

152.7143.9152.3139.1118.985.4

78.290.3

129.0153.4140.3150.3

137.2136.8131.4136.6112.8

Nonfa rm

1,5:1,2'1,3:i,«1,611,5:1,4*1,1"1,2?1,521,4(

U.3

4.06.88.74.84.0

7.52.88.81.42.3

(::;3

I3

i3

i3)3333!3

1 3

I

I3

3

31 3

a \

Private (farm and nonfarm) '

Total

1,517.0

1,252.21,313.01,462.91,603.21,528.8

1,472.81,164.91,291.61,507.61,466.8

1,433.62,052,22,356.62,045.31,337.7

1,160.41,537.51,987.12,020.31,745.1

1,292.21,084.21,062.21,703.01,749.5

1,741.81,805.41,620.5

1,8041,8091,7231,6351,5991,583

1,5941,5831,6791,5381,6611,399

1,3821,5191,5291,5841,3931,465

1,4771,4611,4671,5421,563

Type of structure

1 unit

1,234.0

994.7974.3991.4

1,012.4970.5

963.7778.6843.9899.4810.6

812.91,151.01,309.21,132.0

888.1

892.21,162.41,450.91,433.31,194.1

852.2705.4662.6

1,067.61,084.2

1,072.41,179.41,146.4

2 to 4units

28

25334759

108.4

86.661.171.680.985.0

84,8120.3141.3118.368.1

64.085,9

121.7125.0122.0

109.591.180.0

113.5121.4

93.484.065.3

5 unitsor more

3.0

7.48.71.50.8

450.0

422.5325.1376.1527.3571.2

535.9780.9906.2795.0381.6

204.3289.2414.4462.0429.0

330.5287.7319.6522.0544.0

576.1542.0408.7

New private housing uni ts authorized 2

Total

1,208.3

998.01,064.21,186.61,334.71,285.8

1,239.8971.9

1,141.01,353.41,323.7

1,351.51,924.62,218.91,819.51,074.4

939.21,296.21,690.01,800.51,551.8

1,190.6985.5

1,000.51,605.21,681.8

1,733.31,769.41,534.8

Type of structure

1 uni t

938.3

746.1722.8716.2750.2720.1

709.9563.2650.6694.7625.9

646.8906.1

1,033.1882.1643.8

675.5893.6

1,126.11,182.6

981.5

710.4564.3546.4901.5922.4

956.61,077.61,024.4

2 to 4units

77,1

64.667.687.1

118.9100.8

84.861.073.084.385.2

88.1132.9148.6117.064.3

63.993.1

121.3130.6125.4

114.5101.888.3

133.6142.6

120.1108.489.3

5 unitsor more

192.9

187.4273.8383.3465.6464.9

445.1347.7417.5574.4612.7

616.7885.7

1,037.2820.5366.2

199.8309.5442.7487.3444.8

365,7319.4365.8570.1616.8

656.6583.5421.1

Seasonally adjusted annual rates

1,2451,2851,2061,2011,1251,086

1,1421,1091,2111,1051,1291,035

1,0161,1021,1721,0931,0041,092

1,0681,0781,0451,1421,151

797485666585

595849675151

535957585262

5161616264

480450432368409412

393416419366481313

313358300433337311

358322361338348

1,6921,6881,6821,5961,5041,539

1,5101,5141,5011,4531,4591,372

1,2481,4291,4761,4491,4361,493

1,4201,4641,3941,5161,516

1,0971,2011,1241,0531,0081,022

9941,014

983962971957

9181,0031,030

960982

1,002

9841,022

9741,0271,046

9710494979287

898386818383

707580757679

7974758383

498383464446404430

427417432410405332

260351366414378412

357368345406387

1 Units in structures built by private developers for sale upon completion to local public housing authorities under the Department ofHousing and Urban Development "Turnkey" program are classified as private housing. Military housing starts, including those financedwith mortgages insured by FHA under Section 803 of the National Mousing Act, are included in publicly owned starts and excluded fromtotal private starts.

2 Authorized by issuance of local building permit: in 17,000 permit-issuing places beginning 1984; in 16,000 places for 1978-83; in14,000 places for 1972-77; in 13,000 places for 1967-71; in 12,000 pfaces for 1963-66-, and in 10,000 places prior to 1963.

3 Not available separately beginning January 1970,



TABLE B-54.—Business expenditures for new plant and equipment, 1947-89


Year or quarter

19471948194919501951195219531954.19551956195719581959

19601961196219631964

19651%619671968196919701971197219731974

197519761977.!19781979

198019811982198319841985198619871!! 11988 *1989*1987- 1

II1UIV „

1988- 1IIIll)V *

1989:1*11 *

Industries surveyed quarterly

Allindus-tries

20.1122.7820.2821.5626.8128.1629.9628.8630.9437.9040.5433.8435.8839.4438.34 j40.8643.6751.2659.5270,4072,7576.4285.74

9U192.91

103.40120.03139.67142.42158.44184.82217.76254.96282.80315.22310,58!304.78354.44387.13379.47389.67430.17455.96376.73380,66394.54406,82412.02426.94436.01445.73466.76473.55

Manufacturing

Total

8.739.257.327.73

11.0712,1212.4312.0012.5016,3317.5012.9813.7616.3615.5316.0317.2721.23;25.4131.3732.2532.3436.2736,9933.6035.42423552.4853.6658.53'67.4878.5895.92

11233126.54120.68116.20138.82153.48142.69145.90164,54171,67141.50141.71148.20152.21158.60161.69168.91168.97177,81179.48

Dura-ble

goods

3393.542.673.225.12!5.755.715,495.878.198.596.216,728,287.437.818.64

10.9813.4917.2317.8317.9319,9719.8016.7818.2222.6326,77253727.5032.77'39.4648.50553659.8155,35'53.0866.2473.2769.1471.0177.7579.2970.7969.0571.9672.2875.7076.8779,4878.9784.2584.00

Non-durablegoods

5.345.714.644.515.95;6.376.726.516.628.158.916.777.04

8.088.108.228.63

10,2511.9214.1514.4214.4016.3117.1916.8217.2019.7225.71:

28.2831.0334.7139.1347.4256.9666.7365.3363.1272.5880.2173.56;74.8886.79923870.707£6676.2479.9282.9084.8289.4390.0093.5695.48

Non manufacturing

Total '

113813.5312.9613.8315.7416.0417.5316.8518.4421.5723.0420.8622.1223.0822,8024.8326.4030.0434.1239.0340.5044.0849.4754.9259.3167,9877.6787.1988.7699.91

117.34139.18159.04170.47188.68189.89188.58215,61233.65236.78243.78265.63284.30235.23238.9524634254.61253.43265.25267.10276.76288.95294.07

Min-ing

0.69.93.88

.841.111.211.251.291.311.641.691.431351.291.261.411.261.331.361.421.381.441.772.022.672.883.304.586.127.639.81

11.2212.8115.99213920.0515.1916.8615.8811.22113912.5711.22103811.0211.81123212.5913.2612.4711.9711.6211.81

Trans-porta-tion

2.693.172.802.873.603.563.582.913.103.563.842.723.473.543.143.593.644.715.666.686.576.917.237.176.427.148.009.169.95

11.1012.20133616.0516.6015.8414.7913.9716.5218.0218.8018.8521.3624.8118.7718.1219.1919.3420.4320.7222.1722.1226.9025.83

Publicutili-ties

1.642.673.283.423.753.964.614.234.264.785.955.745.465.405.205.125.335.806.497.829.33

10.5211.7013.0314.7016.2617.9919.9620.2322.9027.8331.5035.6337.7441.2145.4344.9647.4848.81463844.8846.3947.1543.9543.9545.2946.3844.6145.4346.7048.8049.3550.51

Com-mercial

andother

6.386.776.016.707.297.318.098.429.77

11.5911.5610.9711.8412.8613.2114.7116.1718.2020.6023.1123.2225.2228.7732.7135.5241.6948.3953.4952.4758.2967.5183.0994.56

100.14110.24109.63114.45134.75150.94160.38168.65185.32201.12162.13165.86170.05176.56175.79185.83185.76193.87201.07205.92

Addenda

Totalnon-farmbusi-

ness2

22.2725.9724.0325.8131.3832.1634.2033.6237.0845.2548.6242.5545.17

48.9948.1451.6153.5962.0270.7982.6283.8288.92

100.02106.15109.18120.91139.26159.83162.60179.91208.15245.34284.94314.47349.26347.47343.35398.99431.94427.23440.66

W arm

fac-tor-ing

8.739.257327.73

11.0712.1212.4312.0012.50163317.5012.9813.76163615.5316.0317.2721.2325.4131.3732.25323436.2736.9933.6035.42423552.4853.6658.5367.4878.5895.92

112.33126.54120.68116.20138.82153.48142.69145.90164.54171.67141.50141.71148.20152.21158.60161.69168.91168.97177.81179.48

Nonmanufacturing

Total

13.5416.7316.7218.08203120.0421.7721.6224.5828.9131.1129.5731.4132.6332.6035.58363340.80453951.2551.5756.5863.7469.1675.5885.4996.91

10735108.9512138140.67166.76189.02202.15222.72226.79227.15260.16278.46284.54294.77

»"•"»"»

Sur-

quar-terly

11.3813.5312.9613.8315.7416.0417.5316.8518.4421.5723.0420.8622.1223.0822.8024.8326.4030.0434.1239.0340.5044.0849.4754.92593167.9877.6787.1988.7699.91

117.34139.18159.04170.47188.68189.89188.58215.61233.65236.78243.78265.63284.30235.23238.95246.34254.61253.43265.25267.10276.76288.95294.07

Sur-veyedannu-al ly 3

2.163.193.764.254.574.004.234.766.147358.088.729.299.559.80

10.759.93

10.7611.2712.2211.0712.5014.2714.2416.2617.5119.2420.1620.1921.4723.3327.5829.9831.6834.0436.8938.5644.5544.8147.7550.99

1 Excludes forestry, fisheries, and agricultural services; professional services; social services and membership organizations; and realestate, which, effective with the April-May 1984 survey, are no longer surveyed quarterly. See last column ("nonmanufacturing surveyedannually") for data for these industries.2 "All industries" plus the part of nonmanufacturing that is surveyed annually.3 Consists of forestry, fisheries, and agricultural services; professional services; social services and membership organizations; andreal estate.

* Planned capital expenditures as reported by business in October and November 1988, corrected for biases.Source-. Department of Commerce, Bureau of the Census.


TABLE B-55.—Manufacturing and trade, sales and inventories, 1948-88

[Amounts in millions of dollars; monthly data seasonally adjusted]

Year or month

1948194919501951195219531954195519561957195819591960196119621963196419651966196719681969

1970197119721973197419751976197719781979198019811982198319841985198619871987- Jan

FebMarAfMayJuneJuly . .AugSeptOctNovDec

1988- JanFebMarAprNTayJuneJulyAugSeptOct

Total manufacturing andtrade

Sales1

35,26033,78838,59643,35644,84047,98746,44351,69454,06355,87954,20159,72960,82761,15965,66268,99573,68280,28387,18790,76598,607

105,585

108,100116,769130,931153,762177,946182,402204,381229,773260,592298,144327,874356,700348,747368,930408,142418,605424,177451,788425,169442,039442,633444,300446,897451,532

453,508458,052462,889462,938461,320464,394

646,772468,675476,922477,768481,874488,787489,235495,482495,418501,450

Inven-tories 2

52,50749,497

59,82270,24272,37776,12273,17579,51687,30489,05287,09392,12994,71395,594

101,063105,480111,503120,907136,790144,870155,771169,420

177,493187,722201,862233,171285,883288,417318,647351,164399,220451,166508,327545,613574,491590,673644,906656,165655,065707,329

661,246662,850665,994668,203674,539677,777

681,122682,212686,700694,776700,688707,329711,586714,746717,249721,016725,381730,916735,890743,851750,261751,437

Ratio3

1.421.531.361.551.581.581.601.471.551.591.601.501.561.541.501.491.471.451.471.601.581.601.641.611.541.521.611.581.561.531.531.511,551.531,651.601.581.571.541.571.561.501.501.501.511.501.501.491.481.501.521.521.531.531.501.511.511.501.501.501.511.50

Manufacturing

Sales1

17,31616,12618,63421,71422,52924,84323,35526,48027,74028,73627,24730,28630,87930,92333,35735,05837,33140,99544,87046,48750,22853,501

52,80555,90663,02772,93184,79086,58998,797

113,202126,905143,936

154,391168,129163,350171,242187,869190,016188,360199,170189,809194,981195,251195,084195,779198,602198,964199,288203,806204,706205,495207,447206,283206,932211,778213,036215,777218,881216,698221,715221,395222,540

Inven-tories2

28,54326,321

31,07839,30641,13643,94841,61245,06950,64251,87150,24152,94553,78054,88558,18660,04663,40968,18577,95284,66690,61898,203

101,653102,656108,237124,626157,792159,935175,195189,214210,509241,100

264,281282,645311,827312,647334,767327,496316,182331,132317,449317,302317,374317,949318,885319,076320,512322,613323,877325,716329,075331,132333,374335,416336,695337,936340,074341,963343,788345,798347,785349,908

Ratio3

1.571.751.481.661.781.761.811.621.731.801.841,701.751.741.701.691.641.601.621.821.801.841.931.841.721.711.861.851.771.671.661.681.711.681.911.831.781.721.681.661.671.631.631.631.631.611.611.621.591.591.601.601.621.621.591.591.581.561.591.561.571.57

Merchant wholesalers

Sales '

6,8086,5147,6958,5978,7829,0528,9939,893

10,51310,47510,25711,491

11,65611,98812,67413,38214,52915,61116,98719,52020,92622,694

24,03126,35029,69538,17347,98946,80350,88556,36466,66979,472

93,704102,01396,290

100,324113,390114,645116,026126,736118,114123,766123,702124,607126,321126,469127,422129,316130,872131,196128,501128,332129,720131,622132,885133,015133,264136,289138,195139,008139,682142,378

Inven-tories2

7,9577,7069,2849,886

10,21010,68610,63711,67813,26012,73012,73913,87914,12014,48814,93616,04817,00018,31720,76524,95526,26828,762

32,19935,21038,81645,55657,23956,97264,36572,80186,40599,262

122,979130,275128,196130,445142,622147,145152,887165,097

154,863154,821155,164155,756158,540158,686158,351157,198159,621163,067163,353165,097168,388170,632171,732173,530173,418175,001177,307179,165180,278180,785

Ratio3

1.131.191.071.161.121.171.181.131.191.231.241.151.221.201.161.151.141.151.151.281.261.271.341.341.311.191.191.221.261.291.301.251.311.281.331,301.261.281.321.301.311.251.251.251.261.251.241.221.221.241.271.291.301.301.291.301.301.281.281.291.291.27

Retail trade

Sales '

11,13511,149

12,26813,04613,52914,09114,09515,32115,81116,66716,69617,95118,29418,24919,63020,55621,82323,67725,33024,75827,45329,39031,26434,51338,20942,65845,16749,01054,69960,20767,01874,737

79,77986,55889,10797,364

106,882113,944119,791125,882117,246123,292123,680124,609124,797126,461127,122129,448128,211127,036127,324128,615128,769130,121132,259131,717132,833133,617134,342134,759134,341136,532

Inven-tories2

16,00715,47019,46021,05021,03121,48820,92622,76923,40224,45124,11325,305

26,81326,22127,94129,38631,09434,40538,07335,24938,88542,45543,64149,85654,80962,98970,85271,51079,08789,149

102,306110,804

121,067132,693134,468147,581167,517181,524185,996211,100188,934190,727193,456194,498197,114200,015

202,259202,401203,202205,993208,260211,100209,824208,698208,822209,550211,889213,952214,795218,888222,198220,744

Ratio3

1.391.411.381.641.521.531.511.431.471.441.431.401.451.431.381.391.401.391.441.421.421.441.401.441.431.481.571.461.451.481.531.481.521.531.511.521.571.591.551.681.611.551.561.561.581.581.591.561.581.621.641.641.631.601.581.591.601.601.601.621.651.62

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period. Inventories beginning January 1982 for manufacturing and December 1980 for wholesale and

retail trade are not comparable with earlier periods.3 Inventory/sales ratio. Beginning 1967 annual data are based on December inventories and monthly average sales for the year. For

earlier periods, data are weighted averages. For monthly data, ratio of inventories at end of month to sales for month.Note.—Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale and

retail trade.Source: Department of Commerce, Bureau of the Census.


TABLE B-56.—Manufacturers' shipments and inventories, 1947-88

[Millions of dollars; monthly data seasonally adjusted]

Year ormonth

19471948194919501951 ".1952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871987; Jan

FebMar

fcJune....


1988: JanFebMarApr

fca=at

Shipments1

Total

15,51317,31616,12618,63421,71422,52924,84323,35526,48027,74028.73627,24730,28630,87930.92333,35735,05837,33140,99544,87046.48750.22853.50152,80555,90663,02772,93184.79086,58998,797113,202126,905143,936154,391168,129163,350171,242187,869190,016188,360199,170189,809194,981195,251195,084195.779198.602198,964199.288203,806204.706205,495207,447206,283206,932211,778213,036215,777218,881216,698221,715221,395222,540

Dura-ble

goodsindus-tries

6,6947,5797,1918,84510,49311,31313,34911,82814,07114,71515.23713.56315,60915,88315,61617,26218,28019,63722,22124.64925.26727,65929.43728,18829,95434,02739,68144,23043,65950,70059,26767,84876,06077,55083,87279,35284,95696,62399,01999,989105,291100,613103,662103,5%103,081102,661104,531103,893104,407108,377108,303108.287111.183109.125109,829112.744112,521114,751116,522113,122117,866118.030118.278

Non-durablegoodsindus-tries

8,8199,7388.9359,78911,22111,21611,49411,52712,40913,02513.49913.68414.67714,99615,30716,09516,77817,69418,77420,22021,22022,57024,06424.61725.95229.00033.25040.56042,93148,09753,93559,05767,87676,84184,25783,99886,28691,24690,99688,37193,87989,19691,31991,65592,00393,11894.07195,07194.88195,42996,40397,20896.26497,15897,10399,034100,515101,026102,359103.576103,849103,365104.262

Inventories2

Total

25,89728,54326,32131.07839.30641,13643,94841,61245,06950,64251.87150,24152,94553,78054,88558,18660,04663,40968,18577,95284,66690,61898,203101,653102.656108,237124,626157,792159,935175,195189.214210,509241,100264,281282.645311.827312.647334,767327,496316,182331,132317,449317,302317,374317,949318,885319,076320,512322,613323,877325,716329,075331,132333,374335,416336,695337,936340,074341,963343.788345.798347.785349,908

Durable goods industries

Total

13,06114,66213,06015,53920,99123,73125,87823,71026,40530,44731,72830,25832,07732,37132,54434,63235,86638,50642,25749,92055,00558,87564,73966,78066,28970,25081,398101,739102,874112,581121,601137,891160,533174,620186,347200.825200,406218,771214,066208,313216,598208,899208.367208,127208.587208,910208,686209,674210,717211.334212,863215,557216,598218,507219,913220,523221,405222,948224,000225,467226,600228,214230,012

Mate-rialsand

supplies

8,9667,8949,19410,41710,60810,03210,77610,35310,27910,81011,06811,97013,32515,48916,45517,37618,69319,18219,75920,86026,02835,15133,92037,54840,25145,25252,68755,121.57,92758,96060,20364,88162,22960,21861,25560,53960,20760,08660,36960,42060,46860,10859,95460,19860,32960,85161,25561,75361,83062,55262,54163,10563,52264,13864,99865,25365,437

Workin

proc-ess

10,7209,72110,75612,31712,83712,38713,06312,77213,20314,15914,87116,19118,07521,93925,00527,33630,40829,84828,65030,78835,54542,60343,36946,34550,62058,63469,25476,99781,10587,22387,64397,75097,25394,46699,95294,54094,66594,34594,56894,76795,12695,49396,44597,26897,99199,61499,952100,751101,955101,709102,665103,678104,112104,257103,927104,440105,326

Finishedgoods

6,2066,0406,3487,5658,1257,8398,2399,2459,0639,6629,92510,34410,85412,49113,54714,16315,63917,75117,88018,60119,82323,98525,58628,69030,73034,00538,59242,50247,31554,64252,56056,14054,58453,62955,39153,82053,49553,69653,65053,72353,09254,07354,31853,86854,54355,09255,39156,00356,12856,26256,19956,16556,36657,07257,67558,52159,249

Nondurable goods industries

Total

12,83613,88113,26115,53918,31517,40518,07017,90218,66420,19520,14319,98320,86821,40922,34123,55424,18024,90325,92828,03229,65931,74333,46334,87136,36837,98843,23056,05357,06062,61267,61372,61880,56789,66196,298111,002112,241115,996113,439107,869114,534108,550108,935109,247109,362109,975110,390110,838111,896112,543112,853113,518114,534114,867115,503116,172116,531117,126117,963118,321119,198119,571119,896

Mate-rialsand

supplies

8,3178,1678,5568,9718,7758,6629,0809,0829,4939,8139,97810,13110,44811,15511,71512,28912,72413,15013,68314,67618,13223,69923,54225,83327,39829,31732,45136,20637,75843,91544,64344,91742,96441,54044,35441,51941,51041,71342,15442,44942,70242,94343,15543,94443,90144,12344,35444,69444,85845,45845,57845,79046,25546,35046,93147,36447,715

Workin

proc-ess

2,4722,4402,5712,7212,8642,8282,9442,9463,1103,2963,4063,5113,8064,2044,4214,8485,1225,2745,6655,9826,7078,1758,8379,93311,00311,90713,74115,73216,07418,58518,84218,97818,92617,36018,75217,44117,90418,00217,92018,01718,21118,12718,40318,42318,46018,62218,75218,75918,61018,89119,06119,07519,05019,21819,16319,11019,023

Finishedgoods

7,4097,4157,6668,6228,6248,4918,8459,3809,73810,44410,79611,26111,67412,67313,52314,60615,61716,44817,01917,33018,39124,17924,68126,84629,21231,39434,37537,72342,46648,50248,75652,10151,54048,96951,42849,59049,52149,53249,28849,50949,47749,76850,33850,17650,49250,77351,42851,41452,03551,82351,89252,26152,65852,75353,10453,09753,158

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period. Data beginning 1982 are not comparable with data for prior periods.Note.—Data beginning 1958 are not strictly comparable with earlier data.Source.- Department of Commerce, Bureau of the Census.


TABLE B-57.—Manufacttirers' new and unfilled orders, 1947-88

[Amounts in millions of dollars; monthly data seasonally adjusted]

Year or month

194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871987: Jan

FebMarAprMayJuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJulyAugSeptOct'..:..::::::

New orders '

Total

15,25617,69315,61420,11023,90723,20423,58622,33527,46528,36827,55927,00230,72430,23531,10433,43635,52438,35742,10046,40247,05650,68753,95052,03855,98364,16776,05687,24485,22099,532115,103131,650147,574156,318167,883162,273174,122189,791190,918188,663201,966186,765194,562196,911200,142200,969203,429205,490202,358205,340208,602209,258209,564210,202211,283211,799217,029216,398228,090219,877227,009222,669226,208

Durable goodsindustries

Total

6,3888,1266,63310,16512,84112,06112,14710,76814,99615,36514,11113,29016,00315,30315,75917,37418,70920,65223,27826,17725,82528,11629,87127,38829,99835,06442,72646,83542,09951,40361,12872,41679,58679,48283,65778,33887,60098,58199,843100,166107,77097,336102,398104,785107,635107,920108,771109,935106,988109,677112,016111,961113,192113,069114,155113,063116,836115,369125,442116,112122,806119,321122,058

Capitalgoodsindus-tries,non-

defense

6,9037,6606,7387,4448,62210,97112,67311,01112,79115,24219,42023,22123,24224,01221,66122,09826,24327,06726,55129,70727,20527,28426,87728,72630,63129,75332,28029,85029,39330,21830,65533,02933,86733,81931,92433,74631,52235,45836,21338,80834,85833,811

Non-durablegoods

industries

8,8689,5668,9819,94511,06611,14311,43911,56612,46913,00313,44813,71214,72014,93215,34516,06116,81517,70518,82320,22521,23122,57124,07924,65025,98629,10433,33040,40943,12248,12953,97559,23467,98776,83684,22683,93586,52291,20991,07588,49794,19789,42992,16492,12692,50793,04994,65895,55595,37095,66396,58697,29796,37297,13397,12898,736100,193101,029102,648103,765104,203103,348104,150

Unfilled orders2

Total

34,47330,73624,04541,45667,26675,85761,17848,26660,00467,37553,18347,37052,73245,08047,40748,57754,32766,88280,07198,401104,547109,926115,422106,158107,147121,061158,884188,467172,037180,562204,946262,415306,540329,884327,356314,270349,419372,586383,181387,065421,243384,021383,602385,262390,320395,510400,337406,863409,933411,467415,363419,126421,243425.162429,513429,534433,527434,148443,357446,536451,830453,103456,771

Durablegoods

industries

28,57926,61919,62235,43563,39472,68058,63745,25056,24163,88050,35244,55949,37342,51444,37545,96551,27063,69176,29894,575100,576105,950111,250101,566102,119114,725151,504182,925164,139172,273196,244251,525294,272317,677315,529303,187335,367358,899388,427370,700400,720367,423366,159367,348371,902377,161381,401387,443390,024391,324395,037398,711400,720404,664408,990409,309413,624414,242423,162426,152431,092432,382436,

Non-durablegoods

industries

5,8944,1174,4236,0213,8723,1772,5413,0163,7633,4952,8312,8113,3592,5663,0322,6123,0573,1913,7733,8263,9713,9764,1724,5925,0276,3367,3805,5427,8988,2888,70210,89012,26812,20711,82711,08314,05213,68714,75416,36520,52316,59817,44317,91418,41818,34918,93619,42019,90920,14320,32620,41520,52320,49820,52320,22519,90319,90620,19520,38420,73820,72120,609

Unfilled orders— shipmentsratio3

Total

3.423.633.873.353.093.012.782.632.692.803.103.333.813.703.853.75

*' 3.653.383.313.864.133.763.303.293.623.933.883.873.883.593,643.723.633.653.703.603.593.653.693.673.713.743.643.683.703.653.713.743.663.683.643.673.733.683.663.70

Durablegoods

industries

4.124.274.554.003.693.543.373.133.243.373.723.954.554.404.654.504.394.063.904.564.964.523.943.904.254.664.624.674.784.344.414.514.434.414.534.404.384.454.514.484.544.574.404.484.514.414.524.554.444.504.424.444.554.464.434.49

Non-durablegoodsindus-tries

0.961.121.04.85.86.94.72.79.68.73.72.80.76.73.69.69.77.77.88.93.64,84.76.72.83.83.76.69.63.70.65.69.71.83.73.75.77.79.78.79.80.82.83.82.82.83.82.82.80.77.77.79.79.79.79.79

1 Monthly average for year and total for month.2 Seasonally adjusted, end of period.3 Ratio of unfilled orders at end of period to shipments for period; excludes industries with no unfilled orders. Annual figures relateto seasonally adjusted data for December.

Note.—Data beginning 1958 are not strictly comparable with earlier data.Source: Department of Commerce, Bureau of the Census.


PRICES

TABLE B-58.—Consumer price indexes, major expenditure classes, 1946-88

[1982-84=100]

Year ormonth

19461947194819491950195119521953195419551956195719581959*196019611962196319641965196619671968196919701971197219731974197519761977197819791980198119821983198419851986 ..19871987: Jan

FebMar

•&::::JuneJulyAugSeptOctNovDec

1988: JanFebMar

fcJuneJulyAugss1Nov

Allitems

19.522.324.123.824126.026526.726.926827.228.128.929.129629.930.230.631.031.532.433.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6

103.9107.6109.6113.6111.2111.6112.1112.7113.1113.5113.8114.4115.0115.3115.4115.4115.7116.0116.5117.1117.5118.0118.5119.0119.8120.2120.3

Foodbever

Total »

=

35.0"36.238.140.141.443.148.855.560.262.165.872.279.986.793.597.399.5

103.2105.6109.1113.5112.1112.5112.5112.8113.3113.8113.7113.8114.2114.3114.3114.8115.7115.8116.0116.7117.1117.6118.8119.4120.1120.3120.2

andages

Food

19824126125025428228728.328.227.828.028.930.229.730030.430.631.131.532.233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697.499.4

103.2105.6109.0113.5112.1112.5112.5112.8113.3113.8113.7113.8114.1114.3114.2114.7115.7115.7115.9116.6117.0117.6118.8119.4120.2120.3120.2

Housing

Total

Ill

30.832.034.036.438.039.441.245.850.753.857.462.470.181.190.496.999.5

103.6107.7110.9114.2112.0112.4112.8113.2113.6114.3114.7115.4115.6115.5115.5115.6116.2116.6117.0117.3117.7118.6119.1119.5119.9119.9119.9

Shelter

22.022.522.723.124.024.524.725.225.425.826.126.527.027.828.830.132.635.537.038.740.5

. 44.448.851.554.960.568.981.090.596.999.1

104.0109.8115.8121.3118.5119.0119.6120.2120.5120.8121.31222122.5123.2123.4123.7124.6125.0125.6125.8126.2126.6127.4128.2128.4128.8129.1

Fuel andother

utilities2

22,522.623.023.624.324.825.426.026.326.326.626.626.626.727.127.428.029.131.132.534.340.745.449.454.758.564.875.486.494.9

100.2104.8106.5104.1103.0101.1101.4101.5101.3102.2104.9105.0105.9105.5103.2102.4102.0102.4102.8102.7102.8103.5105.9106.0106.1106.4105.4104.3

House-hold

furnish-ingsand

oper-ation

42.0*43.645.246.848.649.751.156.863.467.370.474.779.986.393.098.0

100.2101.9103.8105.2107.1106.3106.5106.8107.2107.1107.1107.2107.3107.5107.4107.4107.3107.5107.7108.3109.1109.3109.6109.8109.7110.1110.3110.6

Vupkeep

34.439.942.540.840.343.943.543.143.142.943.744.544.645.045.746.146.346.947.347.849.051.053.756.859.261.162.364.669.472.575.278.681.484.990.995.397.8

100.2102.1105.0105.9110.6105.6106.2109.7111.5111.1109.3107.3109.4113.3115.4115.4112.7110.4110.2114.3117.0116.3114.6112.7112.6117.8120.7119.9

Trans-portation

16.718.520.622.122.724.125.726.526.125826.227.728.629.829.830.130.830.931.431.932.333.334.335.737.539.539.941.245.850.155.159.061.770.583.193.297.099.3

103.7106.4102.3105.4102.6103.1103.3104.2104.7105.4106.0106.5106.6107.1107.8107.6107.1106.8106.5107.2108.1108.5108.9109.6109.7110.0110.7

Medicalcare

12.513.514.414.815.115.916.717.317.818.218.919.720.621.522.322.923.524.124.625.226.328.229.931.934.036.137.338.842.447.552.057.061.867.574.982.992.5

100.6106.8113.5122.0130.1126.6127.4128.1128.7129.2129.9130.7131.2131.7132.3132.8133.1134.4135.5136.3136.9137.5138.2139.3139.9140.4141.2141.8

Enter-tainment

40.7'43.045.247.550.051.552.956.962.065.168.371.976.783.690.196.0

100.1103.8107.9111.6115.3113.3113.5113.9114.5114.8114.9115.4115.6116.1116.9117.3117.4118.1118.3119.0119.6119.7120.1120.5120.7121.3121.8122.2

Othergoods

andservices

35.T36.938.740.942.944.746.449.853.957.060.464.368.975.282.691.1

101.1107.9114.5121.4128.5125.5126.1126.3126.6126.9127.2128.0128.5131.1131.6131.8132.1133.4134.2134.6134.8135.1135.5136.5137.5140.0140.6141.0

Ener-gy3

21.521.521.922.422.522.622.622.522.923.323.824.224.825.526.527.229.438.142.145.149.452.565.786.097.799.299.9

100.9101.6

88.288.683.985.685.886.487.490.791.192.792.389.889.088.387.487.086.587.388.791.091.492.391.989.988.9

1 Includes alcoholic beverages, not shown separately.* See table B-59 for components.3 See tables B-60 for definition and B-59 for components.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.Data beginning 1983 incorporate a rental equivalence measure for homeowners' costs and therefore are not strictly comparable with

earlier figures.Source: Department of Labor, Bureau of labor Statistics.


TABLE B-59.—Consumer price indexes, selected expenditure classes, 1946-88

[1982-84=100, except as noted]

Year or month

1946194719481949195019511952 .19531954 ...19551956195719581959 .1960196119621963196419651966 ...1967196819691970197119721973 .19741975197619771978 .. .1979198019811982 ....198319841985198619871987- Jan

FebMarAprMay....JuneJ«iyAugsept.::::::....Oct.NovDec

1988: JanFebMarAprfayJuneJulyAugSeptOclNov

Food and beverages

Total *

35.036.238.140.141.443.148.855.560.262.165.872.279.986.793.597.399.5

103.2105.6109.1113.5112.1112.5112.5112.8113.3113.8113.7113.8114.2114.3114.3114.8115.7115.8116.0116.7117.1117.6118.8119.4120.1120.3120.2

Food

Total

19.824.126.125.025.428.228.728.328.227.828.028.930.229.730.030.430.631.131.532.233.834.135.337.139.240.442.148.255.159.861.665.572.079.986.893.697.499.4

103.2105.6109.0113.5112.1112.5112.5112.8113.3113.8113.7113.8114.1114.3114.2114.7115.7115.7115.9116.6117.0117.6118.8119.4120.2120.3120.2

Athome

25.828.026.927.330.330.830.330.129.529.630.632.031.231.531.832.032.432.733.535.235.136.338.039.940.942.749.757.161.863.166.873.881.888.494.898.199.1

102.8104.3107.3111.9110.7111.2110.9111.3112.0112.6112.1112.1112.4112.4112.1112.8114.1113.9113.9114.6115.1115.8117.3118.1119.0119.0118.7

Awayfromhome

21.521.922.122.623.424.124.825.426.026.727.327.828.429.731.332.934.937.539.441.044.249.854.558.262.668.375.983.490.995.8

100.0104.2108.3112.5117.0115.2115.5115.9116.1116.4116.8117.2117.5118.0118.3118.6118.9119.3119.7120.2120.7121.0121.5122.1122.5123.0123.4123.7

Shelter

Total

22.022.522.723.124.024.524.725.225.425.826.126.527.027.828.830.132.635.537.038.740.544.448.851.554.960.568.981.090.596.999.1

104.0109.8115.8121.3118.5119.0119.6120.2120.5120.8121.3122.2122.5123.2123.4123.7124.6125.0125.6125.8126.2126.6127.4128.2128.4128.8129.1

Renters' costs

Total 2

:::::::::::::

=:::::::::::::

'"iblb"108.6115.4121.9128.1125.3125.8126.4127.1127.3127.9129.3130.1129.8129.4129.2129.1130.8131.3132.9132.9133.1133.7134.7135.6134.7134.8134.2

Rent,resi-

dential

25025827528729730.932233.935.135.636.337.037.638.238.739239.740.140.540.941.542.243344.746.548750.452.555.258061 164.869.374.380.987.994.6

100.1105.3111.8118.3123.1121.3121.7121.8122.0122.3122.3123.0123.8124.4124.8124.8125.6126.0126.3126.4126.6126.9127.3127.8128.4129.1129.4129.8

Home-owners'costs 2

::::::::::::::

=::::::::::::::

""102:5107.3113.1119.4124.8122.0122.5123.0123.6124.0124.2124.4125.4126.0127.1127.4128.0128.5129.0129.2129.4129.9130.4131.0131.8132.6133.1133.8

Homemainte-nance

andrepairs

20.520.921.422.323.223.624.024.424.825.025.325.826.327.528.930.633.235.838.640.643,649.554.157.662.067.274.082.490.796.499.9

103.7106.5107.9111.8110.3110.2110.7110.3110.2111.1113.2112.9112.7112.8113.5113.3113.7114.3113.3115.3114.3114.7114.5115.0115.3115.01114

Fuel and other utilities

Total

22.522.623.023.624.324.825.426.026.326.326.626.626.626.727.127.428.029.131.132.534.340.745.449.454.758.564.875.486.494.9

100.2104.8106.5104.1103.0101.1101.4101.5101.3102.2104.9105.0105.9105.5103.2102.4102.0102.4102.8102.7102.8103.5105.9106.0106.1106.4105.4104.3

Household fuels

Total

....„„.„.

21.722.123.124.725.727.534.439.443.349.053.061.374.887.295.6

100.5104.0104.599.297.395.095.395.294.796.1

100.8100.4101.4101.096.995.595.195.696.095.895.796.5

100.8100.8100.9101.098.696.8

Fuel oiland

otherhouse-

holdfuelcom-

modities

7.99,0

10.610.911.311.812.112.612.612.713.314.013.713.913.814.114.214.414.414.615.015.516.016.317.018.218.321,133.236.438.843.946.262.486.1

104.6103.4

97.299.495.977.677.975,577.977.577.577.177.277.177.877.678.580.380.580.880.980.580.280.079.176.976.375.974.675.0

Gas(Piped)

andelec-

tricity

18.318.218.719.219.219.319.519.920.220.720.921.121.922.423.323.523.523.523.523.523.623.723.924.325.427.128.529.934.540.144.750.555.061.071.481.993.2

101.5105.4107.1105.7103.8101.5101.5101.5100.8102.5108.1107.6108.7108.2103.3101.4100.9101.5101.9101.7101.6102.6107.8108.1108.3108.5105.8103.7

Otherutilities

andpublic

services

::::::

!

46.647.148.450.053.456.257.860.763.967.770.873.774.377.084.393.399.5

107.2112.1117.9120.1118.7119.1119.3119.7119.8119.4120.5121.1120.8121.2121.3120.9121.3121.8122.7122.3122.6122.3122.4122.6123.3124,5124.4

1 Includes alcoholic beverages, not shown separately.2 December 1982=100.See next page for continuation of table.


TABLE B-59.—Consumer price indexes, selected expenditure classes, 2946-88—Continued

[1982-84=100, except as noted]

Year or month

1946194719481949 ;1950195119521953195419551956195719581959I9601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871987: Jan

FebMar ...AprMayJuneJu!vAugSeptSSLNovDec

1988: JanFebMarAprNTayJuneJulyAug I:::::::::::::::::::::::Sept .......Set ::..:.:Nov

Transportation

Total

16.718.520.622.122.724.125.726.526.125.826.227.728.629.829.830.130.830.931.431.932.333.334.335.737.539.539.941.245.850.155.159.061.770.583.193.297.099.3

103.7106.4102.3105.4102.6103.1103.3104.2104.7105.4106.0106.5106.6107.1107.8107.6107.1106.8106.5107.2108.1108.5108.9109.6109.7110.0110.7

Private transportation

Total3

18.320.823.024.424.525.627.327.827.126.727.128.629.530.830.630.831.431.632.032.532.933.834.836.037.539.439.741.046.250.655.659.762.571.784.293.897.199.3

103.6106.2101.2104.2101.3101.8102.0103.0103.5104.3104.9105.4105.4106.0106.8106.5106.0105.7105.4106.0107.0107.4107.8108.6108.6109.0109,6

Newcars

34.137.340.841.143.146.847.246.544.846.148.550.052.251.551.551.351.050.949.748.849.350.751.553.055.254.754.857.962.966.970.475.881.888.493.797.499.9

102.8106.1110.6114.6114.8113.5113.1113.6114.0114.3114.7114.4114.1115.2116.6116.6116.2116.2116.0115.9116.3116.5116.5116.3116.8117.7118.7

Usedcars

26.7"22.721.520.723.224.026.825.026.028.428.730.029.829.029.9

3$31.233.033.135.236.743.850.354.755.860.262.376.988.898.7

112.5113.7108.8113.1106.2106.9108.711.3

113.4114.7115.4115.5116.0116.2116.5116.3116.0116.0116.1116.6117.0117.6117.9119.2119.4119.9119.7

Motorfue l 4

14.516.418.619.119019.520.021.221.822.122.823.823.423.724.424.124.324.2

. 24.125.125.626.426.827.627.928.128.431.242.245.147.049.751:870.197.4

108.5102.899.497.998.777.180.272.876.076.678.579.180.882.284.384.083.283.282.079.778.377.579.481.481.482.384.183.181.681.5

Auto-mobilemainte-nanceand

repair

15817.118118.618920.420.822.022.723.224.225.025.426.026.527.127.527.828.228.729.230.432.134.136.639.341.143.247.653.757.661.967.073.781.589.296.0

100.3103.8106.8110.3114.8112.8113.3113.3114.3114.3114.4114.5115.1115.7116.1116.5116.9117.2117.7118.5118.8119.3119.7120.0120.3120.9121.1121.5

Other

37.939.241.645.248.648.948.450.253.561.867.269.975.284.391.497.798.8

103.5109.0115.1120.8119.3118.9119.1119.4119.7120.3120.8120.7121.1122.8123.8123.8124.7125.0124.9125.0126.3127.2127.5128.7129.3131.0132.1

Publictranspor-

tation

9.49.9

11.212.413.414.815.816.818.018.519.219.920.921.522.223.224.024.324.725.226.127.428.730.935.237.839.339.740.643.547.850.051.554.969.085.694.999.5

105.7110.5117.0121.1120.4120.6121.1120.9120.6120.2120.2121.5122.1121.2122.0122.1121.8120.8121.4122.4122.4123.2123.7123.7124.0124.2125.3

Medical care

Total

12.513.514.414.815.115.916.717.317.818.218.919.720.621.522.322.923.524.124.625.226.328.229.931.934.036.137.338.842.447.552.057.061.867.574.982.992.5

100.6106.8113.5122.0130.1126.6127.4128.1128.7129.2129.9130.7131.2131.7132.3132.8133.1134.4135.5136.3136.9137.5138.2139.3139.9140.4141.2141.8

Medicalcarecom-

modities

34.236.738.639.239.740.841.241.542.042.543.444.646.146.846.946.345.645.245.145.045.144.945.045.446.547.347.447.549.253.356.560.264.469.075.483.792.3

100.2107.5115.2122.8131.0126.7127.4128.5129.0129.9130.8131.6132.2132.7133.5134.2134.9135.4136.1137.0138.1139.0139.4140.5141.1142.0143.2143.3

Medicalcare

services

10.411.312.112.512.813.414.314.815.315.716.317.017.918.719.520.220.921.522.022.723.926.027.930.232.334.735.937.541.446.651.356.461.267.274.882.892.6

100.7106.7113.2121.9130.0126.6127.4128.0128.7129.0129.6130.4131.0131.5132.0132.5132.7134.1135.3136.1136.6137.2137.9139.0139.6140.1140.8141.5

3 Includes direct pricing of new trucks and motorcycles beginning September 1982.4 Includes direct pricing of diesel fuel and gasohol beginning September 1981.«Not available.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-58.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-60.—Consumer price indexes, commodities, services, and special groups, 1946-88

[1982-84=100]

Year ormonth

194619471948194919501951 1"";;;195219531954 ,1955195619571958195919601961196219631964196519661967..1968196919701971.19721973197419751976197719781979198019811982198319841985198619871987: Jan

FebMarAprMay....June...July....Aug....Sept...Oct....Nov....Dec....

1988: JanFebMar....AprMay....June...July....Aug....Sept...Oct.....Nov....

Allitems

19.522.324123.824126iO26526726926.827228.128.929.129.629.930.230.631.031.532.433.434.836.738.840.541.844.449.353.856.960.665.272.682.490996.599.6

1039107.6109.6113.6111.2111.6112.1112.7113.1113.5113.8114.4115.0115.3115.4115.4115.7116.0116.5117.1117.5118.0118.5119.0119.8120.2120.3

Commodities

AllAllcom-

modities

22.927.629628.829031.632031.931.631.331632.633.333.333.633.834.134.434.835.236.136.838.139.941743.244.547.853.558.260.764.268.876.686.093297.099.8

1032105.4104.4107.7105.3105.8106.4107.2107.5107.7107.6108.2108.9109.3109.5109.3109.2109.1109.8110.7111.1111.1111.5111.9113.0113.5113.5

Food

19.824.126125.025428^228728~328.227.828028.930.229.730.030.430.631.131.532.233.834.135.337.139240.442.148.255.159.861.665.572.079.986.893697.499.4

1032105.6109.0113.5112.1112.5112.5112.8113.3113.8113.7113.8114.1114.3114.2114.7115.7115.7115.9116.6117.0117.6118.8119.4120.2120.3120.2

Commodities less food

All

26.329.731931.531433^834134233.833.633934.935.335.836.036.136.336.636.937.237.738.640.041.743445.146.147.752.857.660.563.867.575.385.793196.9

100.01031105.2101.7104.3101.4102.0102.9103.9104.0104.1104.1104.9105.7106.3106.7106.0105.5105.4106.3107.3107.6107.4107.4107.7108.9109.5109.7

Durable

29.231.734034.534937^538.037736836.136137.237.838.438.138.138.538.639.038.838.939.440.742.244146.046.948.151.557.460.964.468.675.483.089695.199.8

1051106.8106.6108.2107.4107.0107.2107.7107.9108.2108.4108.3108.3108.8109.6109.5109.4109.4109.5109.7109.9110.2110.3110.3110.6111.1111.8

Non-durable

23.627.129228.728630^83103L231.431.432032.933.133.534.134.334.534.835.135.636.437.639.140.942544.045.046.952.957.059.562.565.574.688.496798.3

100.01017104.198.5

101.897.498.6

100.1101.3101.4101.4101.3102.6104.0104.6104.8103.7102.8102.7104.1105.6106.0105.5105.4105.9107.7108.3108.2

Services

Allservices

14.114715616.416917.818619.420.020420921.822.623.324.124.525.025.526.026.627.628.830.332.435037.038.440.143.848.052.056.060.867.577.988196.099.4

1046109.9115.4120.2117.7118.1118.5118.9119.3120.1120.5121.2121.7121.9122.0122.2122.9123.4123.8124.1124.6125.5126.1126.7127.3127.6127.8

Ma/4iMedi-_»lcat

careserv-ices

10.411312112.512813.414314.815.315716317.017.918.719.520.220.921.522.022.723.926.027.930.232334.735.937.541.446.651.356.461.267.274.882892.6

100.71067113.2121.9130.0126.6127.4128.0128.7129.0129.6130.4131,0131.5132.0132.5132.7134.1135.3136.1136.6137.2137.9139.0139.6140.1140.8141.5

Serv-icesless

medi-cal

care

22.8• 23.6

24.225.025.425.926.326.827.428.329.330.832.935637.538.940.644.348.352.255.960.767.578.288796.499.2

1044109.6114.6119.1116.7117.0117.4117.8118.2119.0119.4120.1120.6120.8120.8121.0121.7122.1122.4122.8123.2124.1124.7125.3125.9126.2126.3

Special indexes

Allitemslessfood

19.821.723323.523825.325926.426.626627128.028.629.229.730.030.330.731.131.632.333.434.936.839040.842.043.748.052.556.059.663.971.281.590496.399.7

1040108.0109.8113.6111.0111.4112.0112.7113.0113.5113.8114.5115.1115.5115.7115.5115.7116.0116.6117.2117.6118.1118.4118.9119.7120.2120.3

Allitemsless

energy

28.929.729.930.430.731.131.532.032.533.534.435.938.040342.043.446.150.655.158.261.966.773.481.990196.199.6

1043108.4112.6117.2115.0115.3115.8116.4116.7116.9117.1117.6118.3118.9119.2119.2119.7120.0120.6121.2121.5121.8122.3122.8123.8124.4124.7

Allitemslocclessfoodand

ener-gy

28.929.630.230.631.031.431.832.332.733.534.736.338.440.842.744.045.649.453.957.461.065.571.980.889295.899.6

1046109.1113.5118.2115.8116.1116.8117.4117.6117.7118.0118.6119.4120.1120.5120.4120.8121.1121.9122.4122.7123.0123.3123.8124.7125.5125.8

Ener-gy'

21.521.521.922.422.522.622.622.522.923.323.824.224.825.526.527.229.438.142.145.149.452.565.786.097799.299.9

1009101.688.288.683.985.685.886.487.490.791.192.792.389.889.088.387.487.086.587.388,791.091.492.391.989.988.9

' Household fuels-gas (piped), electricity, fuel oil, etc.-and motor fuel. Motor oil, coolant, etc. also included through 1982.Note.—Data beginning 1978 are for all urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-58.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-61.—Changes in special consumer price indexes, 1958-88[Percent change]

Year or month

19581959

19601961196219631964

19651966196719681969

19701971197219731974

1975197619771978 '.'.1979

198019811982" :19831984

198519861987



1988: JanFebMar iAorMay":::::::::::::June ::JulyAugSeptoct ::Nov

All items

Dec.to

Dec.1

1.81.7

1.4.7

1.31.61.0

1.93.53.04.76.2

5.63.33.48.7

12.3

6.94.96.79.0

13.3

12.58.93.83.83.9

3.81.14.4

Yearto

year

2.8

1.71.01.01.31.3

1.62.93.14.25.5

5.74.43.26.2

11.0

9.15.86.57.6

11.3

13.510.36.23.24.3

3.61.93.6

All items lessfood

Dec.to

Dec.'

1.82.1

1.01.31.01.61.0

1.63.53.35.05.6

6.63.02.95.6

12.2

7.36.16.48.3

14.0

13.09.84.14.13.9

4.1

4:6

Yearto

year

2.12.1

1.71.01.01.31.3

1.62.23.44.55.4

6.04.62.94.09.8

9.46.76.47.2

11.4

14.510.96.53.54.3

3.81.73.5

All items lessenergy

Dec.to

Dec.1

2.11.3

1.3.7

1.31.91.3

1.93.43.24.96.5

5.43.43.58.2

11.7

6.64.86.79.1

11.1

11.78.54.24.54.4

4.03.84.1

Yearto

year

2.8

1.71.01.31.31.6

1.63.12.74.45.8

6.14.23.36.29.8

8.95.66.47.8

10.0

11.610.06.73.64.7

3.93.94.1

All items less foodand energy

Dec.to

Dec.1

1.72.0

1.01.31.31.61.2

1.53.33.85.16.2

6.63.13.04.7

11.1

6.76.16.58.5

11.3

12.29.54.54.84.7

4.33.84.2

Yearto

year

2.42.0

1.31.31.31.31.6

1.22.43.64.65.8

6.34.73.03.68.3

9.16.56.37.49.8

12.410.47.44.05.0

5.34.04.1

All items less food,energy, and shelter

Dec.to

Dec.1

4.65.1

5.83.12.73.5

11.3

6.46.95.36.47.3

9.89.46.15.04.3

3.73.33.8

Yearto

year

4.74.7

5.24.92.42.97.7

8.97.16.05.66.9

8.89.67.75.25.0

3.83.43.8

Change from preceding period

Unad-justed

0.6.4.4.5

'.4

.3

:s.1

0

.3

A.5.3.4

.4

.4

:s.1

Sea-sonally

ad-justed

0.7

'AA

:s.3

i3.3

'.2

.3

:sA.3

.4

.4

.3

.4

.3

Unad-justed

0.5.4

:e:4.3.6

:s.2

-.2

.2

:s.5

A

.3

J.4.1

Sea-sonally

ad-justed

0.6.4.5.4.3.3

.4

.5

3.3.1

.4

.3

.4

.4

.3

.3

.3

A.3

Unad-justed

0.4.3.4.5.3.2

.2

:&.5.3

0

.4

.3

.5

\22AA.8.5.2

Sea-sonally

ad-justed

0.5.2

is:a.3.3.3.4

:s.5.2

:4.4.3

!3.4,5

Unad-justed

0.3.3.6

'.2.1

.3

.5

:e.3

-.1

.3

7.4.2.2

.2

.4

:e

Sea-sonally

ad-justed

0.4

:4.3

.3

.4

.2

.5

.3

'.2.6

".4

.3

.2

.4

.5

Unad-justed

0.1

J

'.20

.1

.4

.9

-is

i3.8.6.2.1.1

lil.8

Sea-sonally

ad-justed

0.5.2.4

i2

.2

.3

.3

.5

o'.5.3

ie

.3

.2

.5

.7

.2

1 Changes from December to December are based on unadjusted indexes.Note.—Data beginning 1978 are for aii urban consumers; earlier data are for urban wage earners and clerical workers.See also Note, Table B-58.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-62.—Changes in consumer price indexes, commodities and services, 1929-87

[Percent change]

Year

19291933193919401941194219431944194519461947194819491950195119521953195419551956195719581959196019611962196319641965196619671968196919701971.1972197319741975197619771978197919801981198219831984198519861987

All items

Dec,to

Dec.1

0.68

0.7

9.99.0302.32.2

18.18.83.0

-2.15.96.0

.8

.7-.7

.43.02.91.81.71.4.7

1.31.61.01.93.53.04.76.25.63.33.48.7

12.36.94.96.79.0

13.312.58.93.83.83.93.81.14.4

Yearto

year

051

-1.4

5^010.9611.72.38.3

14.48.1

-1.21.37.91.9.8.7

-.41.53.32.8

.71.71.01.01.31.31.62.93.14.25.55.74.43.26.2

11.09.15.86.57.6

11.313.510.36.23.24.33.61.93.6

Commodities

Total

Dec.to

Dec.1

-0.71.4

13.312.94 22.02.9

24.810.3

1.7-4.1

7.85.9

-.9

-lie

lie2.81.2.6

1.20

.91.5.9

1.42.52.54.05.43.92.83.4

10.412.86.23.36.18.8

13.011.06.03.62.92.72.5

-2.04,6

Yearto

year

-2.0

6714.5931.03.0

10.620.5

7.2-2.7

9^01.3

Il9-.91.03.22.10.9.6.9

>• .91.21.12.61.93.54.74.53.63.07.4

11.98.84.35.87.2

11.312.38.44.12.93.42.1-.93.2

Food

Dec.to

Dec.1

2.569

-2.52.5

15.717.93003.5

31.311.3-.8

-3.99.87.1

-1.0-1.1-1.8

1^92.82.4

-1.03.1

~U2.01.33.54.01.24.47.02.34.34.6'

20.312.06.6

B.I11.810.210.24.33.12.73.82.63.83.5

Yearto

year

1.228

-2.51.79.2

17.6110

-1.22.4

14.521.78.3

-4.21.6

11.01.8

-1.4-.4

-1.4

3.24.5

-1.71.01.3.7

1.61.32.25.0.9

3.55.15.73.14.2

14.514.38.53.06.39.9

11.08.67.84.12.13.82.33.24.1

Commoditiesless food

Dec.to

Dec.1

0.5.5

10.76.3554.73.3

12.79.25.2

-4.65.54.9-.6

-U02.72.0.8

1.4

~'.B.6

1.4.3.8

1.93.13.64.74.72.22.64.9

13.26.15.14.87.7

14.311.56.73.83.12.12.4

-5.35.1

Yearto

year

-1.6

1410.8465.34.26.0

12.97.4

-1.3

~7.B.9

-1.2-.6

.92.91.11.4.6

ie.8.8.8

1.32.43.64.34.13.92.23.5

10.79.15.05.55.8

11.613.88.64.13.23.12.0

-3.32.6

Services

Total

Dec.to

Dec.1

0.8

2.42.3232.2

.73.65.65.93.73.65.24.44.22.02.03.44.22.73.92.52.11.62.41.62.74.84.35.87.78.14.13.46.2

11.48.27.28.09.3

13.614.213.04.34.85.45.14.54.3

Yearto

year

0.8.8

3.1232.21.51.44.36.15.13.05.34.54.33.12.02.54.33.73.13.41.72.02.02.02.33.84.35.26.98.05.73.84.49.29.68.37.78.6

11.015.413.19.03.55.25.15.04.2

Medical careservices

Dec.to

Dec.1

1.201.23.5563.23.19.06.46.91.64.05.35.83.42.63.23.84.84.64.93.73.52.92.82.33.68.38.07.17.38.15.43.76.0

13.210.310.89.09.3

10.510.112.611.26.25.86.87.95.6

Yearto

year

1.2003.54.54.33.15.18.77.13.32.44.76.73.53.42.63.84.35.34.54.33.63.52.92.33.25.38.87.38.27.07.43.54.5

10.412.610.19.98.59.8

11.310.711.88.76.06.17.76.6

tnerav2

Dec.to

Dec.1

-0.94.71.3

-1.32.2-.901.81.71.71.72.94.83.12.6

17.021.611.47.17.27.9

37.518.011.91.3

-.5.2

1.8-19.7

8.2

Yearto

year

01.92.3.4.4

0-.41.81.72.11.72.52.83.92.68.1

29.610.57.19.56.3

25.130.913.61.5.7

1.0.7

-13.2.5

1 Changes from December to December are based on unadjusted indexes.2 Household fuels-gas (piped) electricity, fuel oil, etc.-and motor fuel. Motor oil, coolant, etc. also included through 1982.urban consumers; earlier data are for urban wage earners and clerical workers.Note.—Data beginning 1978 are for

See also Note, Table B-58.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-63.—Producer price indexes by stage of processing, 1947-88

[1982 = 100]

Year or month

194719481949

1950195119521953195419551956195719581959

1960196119621963 , .196419651966196719681969

19701971197219731974 ... .19751976197719781979

19801981198219831984198519861987


JulvK::ir":::::rSeptOctNovDec

1988: JanFeb....: .MarAprMayJune

July iAugSeptOct..:::::::::.:Nov

Finished goods

Totalfinishedgoods

26.428.527.7

28.230.830.630.330.430.531.332.533.233.1

33.433.433.533.433.534.135.235.636.638.0

39.340.541.845.652.658.260.864.769.877.6

88.096.1

100.0101.6103.7104.7103.2105.4

104.0104.1104.3105.1105.4105.5

106.0105.9105.7106.2106.3105.8

106.3106.1106.3107.0107.5107.7

108.6108.8108.6109.3109.7

Consumer foods

Total

31.934.932.1

32.736.736.434.534.233.433.334.436.534.8

35.535.435,735.335.436.839.238.540.042,4

43.844.546.956.564.469.869.673.379.987.3

92.497.8

100.0101.0105.4104.6107,3109.5

108.0108.3108.1109.2110.6110.6

110.9109.5110.5109.7109.8108.9

110.5109.4110.1110.3111.2112.3

113.6113.6115.2114.6114.9

Crude

39.342.440.1

36.541.944.641.637.539.139.138.541.037.3

39.838.038.437.838.939.041.539.642.545.9

46.045.848.063.671.671.776.779.585.892.3

93.9104.4100.0102.4111.4102.9105.6107.1

104.2107.8109.6105.9105.1107.4

109.597.6

104.7102.7121.2109.6

115.3101.0103.4101.4100.8101.4

111.1112.6121.2117.4121.8

Proc-essed

31.134.031.1

32.436.235.433.634.032.732.734.136.134.7

35.235.335.635.235.236.839.238.840.042.3

43.944.747.255.863.970.369.072.779.486.8

92.397.2

100.0100.9104.9104.8107.4109.6

108.3108.3108.0109.4110.9110.8

110.9110.4110.8110.1108.9108.8

110.1110.0110.5110.9112.0113.0

113.7113.6114.7114.4114.3

Finished goods excluding consumer foods

Total

35.035.936.9

38.239.640.442.048.854.758.162.266.774.6

86.795.6

100.0101.8103.2104.6101.9104.0

102.6102.8103.0103.7103.7103.9

104.3104.7104.2105.1105.1104.9

104.9105.0105.1105.9106.2106.1

106.9107.2106.4107.6108.0

Consumer goods

Total

27.429.228.6

29.031.130.731.031.131.332.132.932.933.3

33.533.433.433.431333.634.134.735.536.3

37.438.739.441.248.253.256.560.664.973.5

87.196.1

100.0101.2102.2103.3

98.5100.7

98.899.199.5

100.3100.3100.6

101.2101.8101.1101.9101.9101.6

101.5101.5101.5102.6103.0102.8

103.8104.1103.0104.0104.5

Durable

32.935.236.1

36.538.939.239.539.840.241.642.843.443.9

43.843.643.443.143.343.243.444.145.145.9

47.248.950.050.955.561.063.767.473.680.8

91.096.4

100.0102.8104.5106.5108.9111.5

111.7110.6110.5111.4111.2111.2

111.3110.9110.0113.4113.0112.2

112.6112.8112.6112.8113.1113.2

113.6113.8112.8115.8115.8

Non-durable

24.225.724.7

25.127.026.326.626.726.827.327.927.828.2

28.428.428.428.528.428.829.330.030.631.5

32.533.534.136.144.048.952.456.860.069.3

85.195.8

100.0100.5101.1101.7

93.394.9

92.293.193.694.394.494.8

95.796.696.195.895.995.9

95.595.595.697.097.497.1

98.398.797.697.798.4

Capitalequipment

19.821.622.7

23.225.525.926.326.727.429.531.332.132.7

32.832.933.033.133.433.834.635.837.038.3

40.141.742.844.250.558.262.166.171.377.5

85.894.6

100.0102.8105.2107.5109.7117.7

111.4111.2111.1111.6111.6111.4

111.6111.7111.2112.5112.5112.4

112.9113.2113.2113.6113.8113.9

114.2114.5114.3115.8116.0

Totalfinished

consumergoods

28.630.829.4

29.932.732.331.731.731.532.032.933.633.3

33.633.633.733.533.634.235.435.636.537.9

39.140.241.546.053.158.260.464.369.477.5

88.696.6

100.0101.3103.3103.8101.4103.6

101.9102.2102.3103.2103.7103.9

104.4104.3104.2104.4104.5104.0

104.5104.1104.4105.1105.7105.9

107.0107.2107.0107.5107.9



TABLE B-63.—Producer price indexes by stage of processing, 1947-88—Continued

[1982=100]

Year or month

194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

19801981198219831984198519861987

1987: JanFebMar

June


1988- JanFebMar

fc=June

Ju ly 1

AugSeptOctNov

Intermediate materials, supplies, and components

Total

23.325.224.2

25.328.427.527.727.928.429.630330.430.8

30.830.630.630730.831.232.032.233.034.1

35.436.838.242.452.558.060.964.969.578.4

90.398.6

100.0100.6103.1102.799.1

101.5

98.999.599.6

100.2100.9101.5

102.1102.5102.7103.1103.4103.6

104,2104.3104.7105.6106,3107.4

108.2108.4108.7108.6109.0

Foodsand

feeds'

.............

41.542.9

45.646.749.570.383.681.677.479.684.894.5

105.5104.6100.0103.6105.797.396.299.2

95.996.195.196.9

100.4100.7

100.799.6

101.0100.6101.4102.0

102.9101.9102.0103.4104.8111.8

116.6114.5115.7114.7113.3

Other

22.224.123.5

24.627.626.727.027.228.029.330.130.130.5

30.730.330.230.130.330.731.331.732.533.6

34.836.237.740.650.556.660.064.168.677.4

89.498.2

100.0100.5103.0103.099.3

101.7

99.199.799.9

100.4100.9101.6

102.2102.7102.8103.2103.6103.7

104.2104.4104.8105.7106.4107.2

107.8108.1108.4108.3108.8

Materials andcomponents

Formanufac-

turing

24.926.825.7

26.930.529.329.729.830.532.032.732.833.3

33.332.932.732.733.133.634.334.535.336.5

38.038.940.444.156.061.764.067.472.080.9

91.798.7

100.0101.2104.1103.3102.2105.3

102.8103.1103.4104.0104.6105.1

105.5105.8106.3107.2107.5108.1

109.5109.9110.5111.6112.3112.9

114.0114.3114.9115.5116.2

Forcon-

struction

22.524.924.9

26.228.728.529.029.130.331.832.032.032.9

32.732.232.132.232.532.833.634.035.737.7

38.340.843.046.555.060.164.169.376.584.2

91.397.9

100.0102.8105.6107.3108.1109.8

108.0108.2108.5108.7108.9109.3

109.8110.2110.7111.2111.9112.4

113.6113.8114.4115.0115.4115.8

116.5116.9117.2117.7118.2

Proc-essedfuelsand

lubri-cants

14.416.414.9

15.215.915.715.815.815.816.317.216.216.2

16.616.816.716.616.216.516.816.916.516.6

17.719.520.122.233.639.442.347.749.961.6

85.0100.6100.095.495.792.872.773.3

68.770.770.371.272.574.5

76.077.375.974.674.472.9

70.770.269.670.571.573.9

73.673.372.569.769.5

Con-tainers

23.424.424.5

25.229.628.028.028.528.931.032.433.233.0

33.433.233.633.232.933.534.535.035.937.2

39.040.842.745.253.360.063.165.971.079.4

89.196.7

100.0100.4105.9109.0110.3114.5

112.3113.3113.8114.0114.0114.2

114.2114.4115.4116.1116.5116.1

116.6116.9117.4118.4119.5120.0

120.5121.0122.4122.5122.7

Supplies

28.529.828.0

29.032.632.631.031.731.232.032.333.133.5

33.333.734.535.034.735.036.536.837.137.8

39.740.842.551.756.861.865.869.372.980.2

89.996.9

100.0101.8104.1104.4105.6107.7

106.2106.4106.4106.7107.3107.6

107.8107.8108.2108.8109.5109.9

110.5110.6111.1111.7112.3113.8

115.2115.1115.7116.1116.2

Crude materials for further processing

Total

31.734.730.1

32.737.634.531.931.630.430.631.231.931.1

30.430.230.529.929.631.133.131.331.833.9

35.236.039.954.561.461.663.465.573.485.9

95.3103.0100.0101.3103.595.887.793.7

89.089.990.392.494.895.1

96.096.595.795.394.794.4

93.794.794.195.697.297.9

97.397.396.695.894.0

Food-stuffsand

feed-stuffs

45,148.840.5

43.450.247.342.342.338.437.639.241.638.8

38.437.938.637.536.639.242.740.340.944.1

45.246.151.572.676.477.476.877.587.3

100.0

104.6103.9100.0101.8104.794.893.296.2

91.892.892.796.9

101.699.7

98.497.196.696.195.395.9

97.299.799.8

101.1104.7108.6

110.1110,1111.5111.4107.7

Other

Total

ZII

21.121.622.5

23.824.727.034.344.143.748.251.757.569.6

84.6101.8100.0100.7102.296.981.687.9

83.284.184.885.586.488.0

90.391.890.890.590.189.2

87.387.486.488.088.287.0

85.185.183.282.081.4

Fuel

7.58.98.8

8.89.09.09.38.98.99.5

10.110.210.4

10.510.510.410.510.510.610.911.311.512.0

13.815.716.818.624.830.634.542.048.257.3

69.484.8

100.0105.1105.1102.792.284.1

85.283.986.285.784.184.0

83.984.184.482.681.383.2

83.582.682.884.582.280.1

81.782.080.683.081.4

Other

24.026.724.3

27.832.027.826.626.127.528.628.227.128.1

26.927.227.126.727.227.728.326.527.128.4

29.129.432.342.954,550.054.956.361.975.5

91.8109.8100.098.8

101.094.376.088.5

81.383.183.284.486.388.6

91.994.092.592.892.790.7

87.988.586.988.489.888.9

85.585.483.380.680.5

1 Data have been revised through July 1988 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.2 Intermediate materials for food manufacturing and feeds.



TABLE B-64.—Producer price indexes by stage of processing, special groups, 1974-88

[1982=100]

Year or month

1974

1975197619771978 .1979

19801981198219831984

198519861987




J u l y 3

AugSeptOctNov

Finished goods

Total

52.6

58.260.864.769.877.6

88.096.1

100.0101.6103.7

104.7103.2105.4

104.0104.1104.3105.1105.4105.5

106.0105.9105.7106.2106.3105.8

106.3106.1106.3107.0107.5107.7

. 108.6108.8108.6109.3109.7

Foods

64.4

69.869.673.379.987.3

92.497.8

100.0101.0105.4

104.6107.3109.5

108.0108.3108.1109.2110.6110.6

110.9109.5110.5109.7109.8108.9

110.5109.4110.1110.3111.2112.3

113.6113.6115.2114.6114.9

Ener-gy

26.2

30.734.339.742.357.1

85.2101.5100.095.291.2

87.663.061.8

58.059.560.261.761.662.5

63.464.963.462.462.561.4

59.258.558.260.961.660.3

61.3.61.858.858.759.8

Excluding foods andenergy

Total

53.6

59.763.166.971.978.3

87.194.6

100.0103.0105.5

108.1110.6113.3

112.6112.4112.5112.9113.0112.9

113.3113.4113.1114.5114.5114.5

115.2115.5115.7115.9116.2116.4

117.1117.4117.2118.7118.9

Cap-ital

equip-ment

50.5

58.262.166.171.377.5

85.894.6

100.0102.8105.2

107.5109.7111.7

111.4111.2111.1111.6111,6111.4

111.6111.7111.2112.5112.5112.4

112.9113.2113.2113.6113.8113.9

114.2114.5114.3115.8116.0

Con-sumergoods

exclud-ing

foodsand

energy

55.5

60.663.767.372.278.8

87.894.6

100.0103.1105.7

108.4111.1114.2

113.2113.0113.2113.7113.7113.7

114.2114.3114.1115.6115.6115.7

116.5116.8117.1117.3117.6117.9

118.8119.1118.9120.3120.5

Intermediate materials, supplies,and components

Total

52.5

58.060.964.969.578.4

90.398.6

100.0100.6103.1

102.799.1

101.5

98.999.599.6

100.2100.9101.5

102.1102.5102.7103.1103.4103.6

104.2104.3104.7105.6106.3107.4

108.2108.4108.7108.6109.0

Foodsand

feeds1

83,6

81.677.479.684.894.5

105.5104.6100.0103.6105.7

97.396.299.2

95.996.195.196.9

100.4100.7

100.799.6

101.0100.6101.4102.0

102.9101.9102.0103.4104.8111.8

116.6114.5115.7114.7113.3

Ener-gy

33.1

38.741.546.849.161.1

84.9100.5100.0

95.395,5

92.672.673.0

68.670.570.171.072.274.1

75.777.075.674.474.172.7

70.570.069.370.271.273.5

73.373.072.269.469.2

Other

54.0

60.263.867.672.580.7

90.397.7

100.0101.6104.7

105.2104.9107.8

105.6105.9106.2106.6107.0107.5

107.9108.2108.7109.6110.1110.6

111.8112.2112.9113.8114.4114.9

115.7116.1116.7117.4118.0

Crude materials for. fur therprocessing

Total

61.4

61.663.465.573.485.9

95.3103.0100.0101.3103.5

95.887.793.7

89.089.990.392.494.895.1

96.096.595.795.394.794.4

93.794.794.195.697.297.9

97.397.396.695.894.0

Food-stuffsand

feed-stuffs

76.4

77.476.877.587.3

100.0

104.6103.9100.0101.8104.7

94.893.296.2

91.892.89Z.796.9

101.699.7

98.497.196.696.195.395.9

97.299.799.8

101.1104.7108.6

110.1110.1111.5111.4107.7

Ener-gy

27.8

33.335.340.445.254.9

73.197.7

100.098.798.0

93.371.875.0

72.172.973.674.174.575.6

77.878.976.775.474.773.6

70.870.468.770.671.470.0

67.367.064.963.562.6

Other

83.3

69.380.279.887.8

106.2

113.1111.7100.0105.3111.7

104.9103.1115.7

105.1106.2106.8108.1110.5113,5

115.7118.7122.9126.4127.1127.3

129.2131.6133.4133.1131.3131.2

132.9133.8133.4133.3134.0

1 Intermediate materials for food manufacturing and feeds.2 Data have been revised through July 1988 to reflect the availability of late reports and corrections by respondents. At) data are

subject to revision 4 months after original publication.Source: Department of Labor, Bureau of Labor Statistics.


TABLE B-65.—Producer price indexes for major commodity groups, 1947-88

[1982=100]

Year or month

19471948 . ..1949I960 ..19511952. .19531954 .19551956195719581959...I960196119621963196419651966.1967196819691970197119721973197419751976197719781979.....1980198119821983...198419851986.1987

1987: JanFebMarAprMay...;; ;;;;;;:;:;; ;;;:;;:::::;JuneJuly

seffi:;::::::::::::::;:;:::::::::::::::::;;:;:::oct!.:::;: :.::::::;: ::::;::;NovDec

1988: JanFebMarAprHayJune':::::::::::::::::::::::::::::::::::::::::July8

AugSeptOctNov

Farm products and processedfoods and feeds

Total

37.940.836.037.743.041.338.638.536.636.437.739.437.637.737.738.137.737.539.041.640.241.143.444.945.849.263.971.374.073.675.983.092.398.3

101.1100.0102.0105.5100.7101.2103.7

101.1101.6101.3103.3105.9105.5

105.2104.0104.6104.1104.1104,0

105.3105.3105.8106.4108.1111.2

112.9112.6114.0113.5112.3

Farmproducts

45.148.541.944.051.248.443.843.240.540.041.142.940.240.139.740.439.639.040.743.741.342.345.045.846.651.672.777.477.078.879.487,799.6

102.9105.2100.0102.4105.595.192.995.5

91.192.092.295.799.998.8

97.995.796.194.996.395.7

97.397.998.299.2

102.2106.8

109.1108.9111.1110.3107.4

Processedfoods and

feeds

33,035.332.133.236.936.434.835.433.833.834.836.535.635.636.236.536.836.738.040.239.840.642.744.645.548.058.968.072.670.874.080.688.595.998.9

100.0101.8105.4103.5105.4107.9

106.1106.4105.9107.2109.1109.0

109.0108.2108.9108.7108.1108.2

109.3109.1109.6110.1111.2113.5

115.0114.6115.6115.2114.9

Industf ial commodities

Total

22.724.624.125.027.626.927.227,227.829.129.930.030.530.530.430.430.330.530.931.532.032.833.935,236.537.840.349.254.958.462.567.075.788.097.4

100.0101.1103.3103.7100.0102.6

100.4100.8101.1101.6101.9102.4

103.1103.7103.5104.0104.2104.2

104.4104.6104.7105.6106.1106.4

106.8107.1106.9107.1107.4

Textileproducts

andapparel

50.652.848.350.256.050.549.348.248.248.248.347.448.148.647.848.248.248.548.848.948.950.751.852.453.355.560.568.067.472.475.378.182.589.797.6

100.0100.3102.7102.9103.2105.1

103.6103.7103.9104,2104.4104.8

105.3105.6106.0106.4106.6107.0

107.6108.1108.4108.7108.9109.3

109.5109.6110.0109.9110.2

Hides,skins,

leather,and

relatedproducts

31.732.130.432.937.730.531.029.529.431.231.231.635.934.634.935.334.334.435.939.438.139.341.542.043.450.054.555.256.563.968.376.196.194.799.3

100.0103.2109.0108.9113.0120.4

114.9115.0116.5118.3120.7120.2

121.01213123.0124.1124.3125.7

128.4129.1132.6134.2134.6131.2

130.1131.3132.7132.0130.7

Fuels andrelated

products,and

power l

11.113.112.412.613.013.013.413.213.213.614.313.713.713.914.014.013.913.513.814.114.414.314.615.316.617.119.430.135.438.343.646.558.982.8

100.2100.095.994.891.469.870.2

66.668.068.369.169.771.1

72.673.872.271.170.869.5

67.266.765.967.668.468.6

68.067.966.164.564.5

Chemicalsand alliedproducts1

32.132.830.030.434.833.033.433.833.733.934,634.934.834.834.533.933.533.633.934.034,234.134.235.035.635.637.650.262.064.065.968.076.089.098.4

100.0100.3102.9103.7102.6106.4

103.0103.6104.3105.2105.9107.1

107,0107.1107.5108.2108.8109.1

110.6111.6112.7113.8114.6115,3

117.4118.4119.1120.1121.1

1 Prices for some items in this grouping are I;items was eliminated beginning with the June 19


[ged and refer to 1 month earlier than the index month; the lag for refined petroleum> data.


TABLE B-65.—Producer price indexes for major commodity groups, 1947-88—Continued

[1982=100]

Year or month

1947.. , .194819491950195119521953195419551956195719581959I960196119621963196419651966 :.196719681969197019711972197319741975197619771978197919801981198219831984198519861987

1987- JanFebMarApr(&:::::::::::::;:::::June

JulyAURSeptOctNov. ,..Dec


July *Aug...:::::::::;:::;:::::Sept . . ..OctNov

Industrial commodities— Continued

Rubberand

plasticproducts

29.230.229.235.634.739.636.937.542.443.042.842.842.642.741.139.940.139.639.740.541.442.843.644.945.245.346.656.462.266.069.472.480.590.196.4

100.0100.8102.3101.9101.9103.0

101.5101.6101.4101.8102.0102.3

102.9103.2103.7104.4105.1105.5

106.2106.9107.7108.2108.8109.1

109.8110.9111.2111.4111.4

Lumberand

woodproducts

25.829.527.331.434.133.233.132.534.134.632.832.534.733.532.032232.833.533.735.235.139.844.039.944.750.762.264.562.172.283.096.9

105.5101.5102.8100.0107.9108.0106.6107.2112.8

108.1109.4110.6110.7110.7111.4

112.4113.7116.2116.1116.9117.1

117.8118.4118.9119.2119.1119.3

120.0118.9119.0118.8118.8

Pulp,

"»•allied

products

25.126.225.125.730.529.729.629.630.432.433.033.433.734.033.033.433.133.033.334.234.635.036.037.538.139.342.352.559.062.164.667.775.986.394.8

100.0103.3110.3113.3116.1121.8

119.5120.3120.6120.9121.0121.2

121.6122.2122.9123.8123.9124.2

126.6127.3128.0128.9129.6130.0

131.0131.3132.1132.9133.1

Metalsand

metalproducts

18.220.720.922.024.524.525,325.527.229.630.230.030.630.630.530.230.331.132.032.833.234.036.038739.440.944.057.061.565.069.375.386.095.099:6

100.0101.8104.8104.4103.2107.1

103.7103.8104.0104.4105.21.5.8

106.7107.7108.8110.8111.7112.9

114.4114.7115.4116.9117.4118.0

119.2119.7120.3121.3122.7

Machineryand

equipment

19.320.921.922,625.325.325.926.327.229.331.432.132.833.033.033.033.133.333.734.735.937.038.240.041.442.343.750.057.961.365.270.376.786.094,4

100.0102.7105,1107,2108.8110.4

109.8109.9110.0110.0110.2110.1

110.4110.6110.6110.9111.0111.3

111.9112.2112.3112.5112.9112,9

113.2113.6113.8114.1114.5

Furnitureand

householddurables

37.239.440.140.944.443.544.444.945.146.347^47.948.047.847.547.246.947.146.847.448.349.750.751.953.153.855.761,867.570.373.277.582.890.795.9

100.0103.4105.7107.1108.2109.9

109.0109.1109.2109.6109.8109.9

110.0110.3110.3110.5110.7110.9

111.6111.9112.3112.5112,8112.7

113.1113.4113.7114.0114.2

Non-metallicmineral

products

20.722.423.023.525.025.026.026.627.328.529.629.930,330.430.530.530.330.430,430.731.232.433.635.338.239.440.747.854.458.262.669.677.688.496.7

100.0101.6105.4108.6110.0110.0

109.3109.6109.7109.9109.9110.1

110.1109.9110.0110.4110.5110,4

110.8110.9110.9111.0111.2111.3

111.1111.2111.3111.5111.6

Transportationequipment

Total

:•••

::::::: ::::::::

40.441,944.245.546.150.356.760.564.669.575.382,994.3

100.0102.8105.2107.9110.5112.5

113,1112.1112.4113.0112.4112.3

112.2111.9110.9113.8113.5112.5

113.2113.2113.1113.5113.7114.0

113.9113.9113.2116.1116.0

Motorvehicles

andequip-ment

25.528.230.130.031.633.433.333.434.336.337.939.039.939.339.239.238.939.139.239.239.840.941.743.345.747.047,451.457.661,265.270.075.883.194.6

100.0102.2104.1106.4109.1111.7

112.6110.9111.1112.3111.8111.5

111.4110.8108.9114.2113.3111.8

112.0111.9111.8112.0112.3112,4

112.6112.8111.0116.1115.7

Miscella-neous

products

26.627.728.228.630.330.231,031.331.331.732.633.333.433.633.733.934.234.434.735.336.237.038.139.840.841.643.348.153.455.659.466.775.593,696.1

100,0104,8107.0109.4111.6114.9

113.1113.1113.3113.9114,0114.0

115.1115.5115.8116.2116.7117.7

118.7119.2119.1119.4119.4119.4

120.9120.8120.9121.1121.2

3 Data have been revised through July 1988 to reflect the availability of late reports and corrections by respondents. All data aresubject to revision 4 months after original publication.



TABLE B-66.—Changes in producer price indexes for finished goods, 1955-88

[Percent change]

Year or month

19551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

198019811982 .19831984

198519861987

1987: JanFebMar

fi=JuneJulyAugSeptOctNovDec

1988: JanFebMarAprMayJuneJuly 2

AugSeptOctNov

Totalfinishedgoods

Dec. toDec.1

1.04.23.4.3

= .31.8

= .63

.63.32.0173.14.92.13.33.9

11.718.3

6.63.86.79.3

12.8

11.87.13.6.6

1.71.8232^2

Yearto year

0.3263.82.2= .3

.90

.3- 3

1.83.2112.83.83.43.13.29.1

15.4

10.64.56.47.9

11.213.49.24.11.62.11.0142.1

Finishedconsumer

foods

Dec. toDec.1

=3.0375.1

.6-3.7

5.3-1.9

.6-14

.69.11.3- 34.68.1235.87.9

22.712.8

5.6= 2.5

6.911.77.47.51.52.02.33.5

.62.8-.2

Yearto year

-2.3_ 33.36.1

-4.7

2.0-.3

.8-1 1

.34.06.5

-183.96.03.31.65.4

20.514.0

8.4= .35.39.09.35.85.82.21.04.4

=-.82.62.1

Finished goods excluding consumer foods

Total

Dec. toDec.1

2.53.34.32.02.36.6

21.1

7.26.26.88.3

14.8

13.48.74.201.12.2403.2

Yearto year

2.62.83.53.72.04.0

16.2

12.16.27.17.2

11.8

16.210.34.61.81.41.4

-2.62.1

Consumergoods

Dec. toDec.1

1.62.51.5.3.9.3

-.300

.91.82.02.02.83.82.12.17.5

20.3

6.86.06.78.5

17.6

14.18.64.2-.9

.82.1

-6.64.1

Yearto year

0.62.62.501.2.6

_.

0_ 3

.91.51.82.32.33.03.51.84.6

17.0

10.46.27.37.1

13.3

18.510.34.11.21.01.1

-4.62.2

Capitalequipment

Dec. toDec.1

5.68.14.61.2.9.3

0.3.69

1.53.83.13.04.84.82.42.15.1

22.7

8.16.57.28.08.8

11.49.23.92.01.82.72.11.3

Yearto year

2.67.76.12.61.9.3

'.3

*91.22.43.53.43.54.74.02.63.3

14.3

15.26.76.47.98.7

10.710.35.72.82.32.22.01.8

Finishedenergygoods

Dec. toDec.1

16.311.612.08.5

58.1

27.914.1= .1

-9.2-4.2

-.2-38.1

11.2

Yearto year

17.211.715.76.5

35.0

49.219.1

= 1,5-4.8-4.2

-3.9281

-1.9

Finished goodsexcluding foods

and energy

Dec. toDec.1

17.7

6.05.7

' 6.28.49.4

10.87.74.91.92.02.72.72.1

Yearto year

11.4

11.45.76.07.58.9

11,28.65.73.02.42.52.32.4

Percent change from preceding month

Unad-justed

0.5.1.2.8.3.1.5

-.1

~'.5.1

-.5.5

= .2.2.7.5.2.8.2

= .2.6.4

Sea-son-allyad-

justed

0.5.2.4.6.2.1.3.3.4

-.3.1

-.3.3

-.2.6.4.4.2.7.5.4

0.3

Unad-justed

-1.0.3

~LO1.30

.3-1.3

.9-.7

.1= .81.5

-1.0.6.2.8

1.01.201.4

= .5.3

Sea-son-

3justed

-0.8

o'1.31.1-.1-.4- 7

.6

-U1.7

-1.1.8.4.7.9.6.5

1.2-.10

Unad-justed

1.0.2

'.70

.2

.44

-.5.9

0— .20.1.1.8.3

-.1.8.3

-.71.1.4

Sea-son-

justed

0.9.2

'.3-.1

.1

.6

.6

-'.300

'.I.4.5.3

-.2.8.5.1

0

Unad-justed

1.2.3,4.8

0.3.6.6

o'= .3

1"01.1.4

= .21.0.3

-1.11.0

Sea-son-

3justed

1.1

'.B.3

-.1

.7

.7

.3= .2-.1

.1

-.40

'.6.3

1.1.5

A

Unad-justed

0.4

-',1

o'

.21

-.41.20-.1

.4

o'.4.2.1

.3

~U

.2

Sea-son-

justed

0.4

'.3

-'.I.2

.5-.4

.1

.4

.2,2.2

',2.4.4.8

= .3.3

Unad-justed

5.12.61.22.5-.21.51.424

-2.3-1.6

.2-1.8= 3.6-1.2= .54.61.1

= 2.11.7

.8-4.9

— 2

Sea-son-allyad-

justed

3.22.62.9

.5-.8

.81.62 7

— 9

=!s-5.1-1.0

1.22.7

.3-2.8

2.01.2

= 3.3.3

1.2

Unad-justed

0.4-2

141

- 141

o'0

.6

.3

.2

.2

.3

.2

.6

.3-.21.3.2

Sea-son-allyad-

justed

0.5=.2

.2

o'.4.2.5

13

.6

.3

.3

.1

.3

.3

.7

.3

.6= .1

.3

1 Changes from December to December are based on unadjusted indexes.2 Data have been revised through July 1988 to reflect the availability of late reports and corrections by respondents. Alt data are

subject to revision 4 months after original publication.Source: Department of Labor, Bureau of Labor Statistics.


MONEY STOCK, CREDIT, AND FINANCE

TABLE B-67.—Money stock, liquid assets, and debt measures, 1959-88

[Averages of daily figures; billions of dollars, seasonally adjusted]

Yearand

month

December:1959

I9601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987

1988- JanFebMarApr(VfayJune

JulyAugi:;:::::::::::::::::::::::::SeptGetNov p

Ml

Sum ofcurrency,demanddeposits,travelers

checks, andother

checkabledeposits(OCDs)

140.0

140.7145.2147.9153.4160.4

167.9172.1183.3197.5204.0

214.5228.4249.4263.0274.4

287.6306.5331.4358.7386.1

412.2439.1476.4522.1551.9

620.1725.4750.8

. 758.8759.5762.9770.1770.2776.5

782.3782.5782.3783.5783.6

M2

Ml plusovernightRPs and

Eurodollars,MMMF

balances(general

purpose andbroker/dealer),

MMDAs, andsavings andsmall timedeposits

297.8

312.4335.5362.7393.3424.8

459.4480.0524.4566.4589.6

628.1712.7805.3861.0908.5

1,023.21,163.71,286.71,389.01,500.2

1,633.11;795.51,954.02,185.22,363.6

2,562.62,807.72,901.0

2,925.12,946.22,967.52,990.93,002.2

'3,016.5

3,025.83,031.63,034.13,037.53,053.9

M3

M2 pluslarge timedeposits,term RPs,

termEurodollars,

andinstitution-only MMMF

balances

299.8

315.3341.1371.5406.1442.5

482.3505.1557.1606.3615.1

677.4776.2886.1985.1

1,070.4

1,172.21,311.91,472.81,646.91,806.6

1,990.82,236.52,443.22,693.22,978.3

3,196.43,490.83,664.1

3,690.53,722.93,748.33,772.03,789.43,814.0

3,836.13,848.33,853.63,868.63,888.8

L

M3 plusother liquid

assets

388.7

403.7430.8466.1503.8540.4

584.5614.8666.6729.0763.6

816.2903.1

1,023.11,142.61,250.3

1,367.01,516.71,705.41,911.02,119.5

2,327.62,599.02,852.93,154.43,519.4

3,825.94,134.34,328.9

4,367.04,398.74,425.54,469.54,501.94,518.5

4,561.64,582.34,589.04,608.6

Debt1

Debt ofdomestic

nonfinancialsectors

(monthlyaverage)

661.9

696.8738.7790.7846.1909.1

977.51,044.51,120.51,215.01,303.9

1,393.11,525.71,681.21,868.42,040.9

2,222.92,462.22,775.33,146.93,527.6

3,868.24,244.34,627.95,161.15,910.1

6,719.97,576.88,282.2

8,327.58,386,98,452.18,513.28,572.08,631.1

8,691.08,758.38,822.68,880.2

Percent change from year or 6months earlier2

Ml

0.53.21.93.74.6

4.72.56.57.73.3

5,16.59.25.54.3

4.86.68.18.27.6

6.86.58.5

. 9.65.7

12,417.03.5

4.13.54.23.74.77.0

6.36,15.23.53.5

M2

4.97.48.18.48.0

8.14.59.28.04.1

6.513.513.06.95.5

12.613.710.68.08.0

8.99.98.8

11.88.2

8.49.63.3

4.85.46.16.87.48.1

7.05.94.53.13.5

M3

5.28.28.99.39.0

9.04.7

10.38.81.5

10.114.614.211.28.7

9.511.912.311.89.7

10.212.39.2

10.210.6

7.39.25.0

5.76.57.17.17.28.3

8.06.95.75.25.3

Debt

8.1

5.36.07.07.07.4

7.56.97.38.47.3

6.89.5

10.211.19.2

8.910.812.713.412.1

9.79.79.0

11.514.5

13.712.8

, 9.3

9.49.49.39.08.58.6

8.99.19.08.8

1 Consists of outstanding credit market debt of the U.S. Government, State and local governments, and private nonfinancial sectors;data from flow of funds accounts.

2 Annual changes are from December to December; monthly changes are from 6 months earlier at an annual rate.

Note,—The nontransactions portion of M2 is seasonally adjusted as a whole to reduce distortions caused by substantial portfolioshifts arising from regulatory and financial changes in recent years, especially shifts to MMDAs in 1983. A similar procedure is used toseasonally adjust the remaining nontransactions balances in M3. See Table B-68 for components.



TABLE B-68.—Components of money stock measures and liquid assets, 1959-88

[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]

Yearand

month

December:1959

1960. ..1961 . .1962 ..1963. ..1964 . .

19651966196719681969

19701971197219731974

1975197619771978 .. . .1979

19801981198219831984.

198519861987

1987: JanFeb.,Mar . . . . .AprMayJune

Ju ly . . .AugSeptOctNov.Dec


JulyAug....SeptOctN o v "

Currency

28.8

28.729.330.332.233.9

36.038.040.043.045.7

48.652.056.360.867,0

72.879.587.496.2

104.9

115.3122.5132.6146.3156.1

167.7180.4196.5

182.2183.6184.4185.6187.0187.8

189.0190.2191.4193.1195.0196.5

198.4199.3200.9202.5203.6204.9

206.3207.2208.5209.5210.3

Travelerschecks

0.4

.4

.4

.4

.5

.5

.6

.6

.7

.8

.8

1.01.11.31.51.8

2.32.83.13.53.8

4.24.44.34.95.2

5.96.57.1

6.56.76.86.76.76.8

6.86.97.07.07.07.1

7.27.37.37.37.47.3

7.27.27.37.47.5

Demanddeposits

110.8

111.6115.5117.1120.6125.8

131.3133.4142.5153.6157.3

164.7175.1191.6200.3205,1

211.&221.6236.7250.5257.5

261.4231.4234.1238.6244.1

267.2303.3288.0

299.7295.9295.0299.3298.9293.3

292.3292.1290.5295.9291.3288.0

289.9287.8287.9290.2287.4289.9

290.6290,1288.4288.6286.8

Othercheckabledeposits(OCDs)

0.0

.0

.0

.0

.1

.1

.1

!i.1.2

.1

.2

.2

!4

.92,74.28.5

19.9

31.480.9

105.4132.3146.4

179.2235.2259.3

243.0245.1248.0253.1253.9254.3

255.6257.2258.6260.3259.5259.3

263.3265.0266.9270.1271.9274.4

278.2278.0278.2277.9279.0

Overnightrepur-chaseagree*ments(RPs)

net, plusovernightEurodol-

lars

NSA

0.0

.0

.0

.0

.0

.0

.0

.0

.0

.02.2

1.32.32.85.35.6

5.810.614.720.321.2

28,335.938.853.856.3

70.278.377.9

84.680.076.776.876.074.7

75.479.683.385.979.677.9

82.978.275.076.180.881.0

77.880.177.676.074.1

Money market mutualfund (MMMF)

balances

Generalpurpose

andbroker/dealer

NSA

0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.11.7

2.72.42.46.4

33.4

61.6150.6185.2138.2167.5

176.5208.0221.1

209.5211.5212.5212.1209.9210.6

210.6213.1216.3218.2219.7221.1

225.0231.0234.8235.8231.8228.9

229.6230.8230.8231.2238.0

Institu-tion only

NSA

0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.2

.4

.6

.93.19.5

15.238.051.143.262.7

64.584.489.6

84.485.185.483.582.181.7

83.884.081.382.589.589.6

94.498.797.491.990.086.3

84.884.083.784.687.4

Moneymarketdeposit

accounts(MMDAs)

NSA

0.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.0

.043.2

379.2416.8

513.6572.5525.2

575.4572.0571.8566.8558.6555,1

549.4545,0540.5533.9527.7525.2

524.1522.6524.7523.3519.6522,3

521.1517.0510.7506.7505.8

Savingsdeposits

146.4

159.1175.5194.8214.4235.2

256.9253.1263.7268.9263.7

261.0292.2321.4326.7338.5

388.8453.1492.2481.9423.8

400.2343.9356.8305.5285.4

301.4370.7414.3

380.6389.7396.3404.1409.5413.1

415.5417.8418.6417.0415.0414.3

414.4416.2419.8422.7425.1429.0

432.0434,2433.4431.3433.7



TABLE B-68.—Components of money stock measures and liquid assets, 1959-88—Continued

[Averages of daily figures; billions of dollars, seasonally adjusted, except as noted]

Yearand

month

December:1959

1960196119621963 ,.1964

19651966196719681969

19701971197219731974

19751976.197719781979

19801981198219831984

198519861987

1987: JanFebMarApr .MayJune



JulyAug .SeptOctNov p

Smalldenomi-nationtime

deposits 1

114

12514.820125.5292

34555077.8

1005120.4

151.11897231.626582879

3379390.74454521.06343

7284822.9850578368833

8795853.29131

85068481847.0845.18459852.1

859.1865.987218833901.79131

924.6941.59535964.8972.09749

978.5985.79974

1009910190

Largedenomi-nationtime

deposits >

1.2

203.970

10.8152

21223130.937420.4

45.357773.3

111 11448

1297118.11452195.52230

2600302.53267327.14169

4364439.24847

440.44431445.6448.94540458.6

460.2462.446534723480.54847

482.6488.64903492.1495.4501.7

509.1515.0523753045316

Termrepur-chaseagree-ments(RPs)

NSA

00

0.00.00

00.00

2.7

1.6273.56879

8214.019126.6295

34036.034551.8619

65684.6

108.9

84.388088.095.3

1035108.5

108.4109.211141088111.7108.9

109.6113.9111.7114.3120.6123.8

125.0123.1121.512391264

TermEuro-

dollars

NSA

0.7

81.5161.924

1,8222.22 92.7

2.2273.65581

9.814.820231.8447

50367.581791.5829

76583.890.5

85.388188.584.086887.9

84.590.194.292792.590.5

85.485.590.089.191.893.1

96.2102.3101.4991

1022

Savingsbonds

46.1

45746.546.948.1490

49650251.251851.7

52.054357.6604633

67271.876480.379.6

72367.868071.1742

79391.6

100.2

92.593394.295.195996.6

97.598.198498.899.3

100.2

101.4102.6103.5104.6105.4106.1

106.9107.4107.71083

Short-term

Treasurysecurities

38.6

36737.039840.7385

40.743238.746159.5

48.836040.7493528

68469.878181.1

1078

1335149.4183.5211.92609

301.2284.2260.1

280.7280.0267.6257.52614259.4

254.6258.6263.3272.8270.9260.1

262.5258.3252.8263.5265.1256.6

266.5273.1278.0281.3

Bankersaccept-ances

06

91.11 11.213

16181.82 33.3

3.5383.550

126

10710.814122.0272

32140.044545.1457

42.537.845.7

38.038.939.640.942143.1

43.443.544.344.545.045.7

43.640.940.641.240.940.6

40.641.141.941.3

Commer-cial

paper

36

5152687791

102144178225340

345327352428512

485525641807983

9881053113613311603

2085229.92589

23632390239.9246325372528

251.8251.825662542252.52589

269.0274.12803288.2301.13012

311.5312.530793092

1 Small denomination and large denomination deposits are those issued in amounts of less than $100,000 and more than $100,000,respectively.

Note.—NSA indicates data are not seasonally adjusted.See also Table B-67.Source: Board of Governors of the Federal Reserve System.


TABLE B-69.—Aggregate reserves of depository institutions and monetary base, 1959-88

[Averages of daily figures; mill ions of dollars; seasonally adjusted, except as noted]

Year and month

December:1959

I9601961196219631964

19651966196719681969

19701971197219731974

197519761977.,...19781979

19801981198219831984

198519861987

1987- JanFebMarAprBay :June

JulyAugsept"::::.: ::::::::::OctNovDec


JulyAugsept::::::::::::::::::::::..:..:..:....::::::::::Oct..Nov "

Adjusted for changes in reserve requirements1

Reserves of depository institutions

Totat

13,711

13,88214,31614,58614,89215,378

15,93415,93317,35018,25118,523

19,43620,69422,78823,81725,075

25,20625,74926,79528,09429,394

31,26132,84135,24737,54940,959

47,25557,45658,722

57,93057,89957,87858,77059,10058,653

58,49958,81058,81559,46659,05358,722

59,45859,57359,76060,37460,36560,637

61,23861,09060,99560,95661,055

Nonbor-rowed

12,770

13,80814,18314,32614,56015,114

15,49015,40117,12217,50517,404

19,10320,56821,73822,51924,347

25,07625,69626,22527,22627,921

29,57132,20434,61336,77537,773

45,93756,62957,944

57,35057,34257,35157,77758,06457,876

57,82758,16357,87458,52358,42857,944

58,37659,17758,00957,38057,78757,555

57,79857,84958,15658,65758,194

Nonbor-rowedplus

extendedcredit

12,770

13,80814,18314,32614,56015,114

15,49015,40117,12217,50517,404

19,10320,56821,73822,51924,494

25,08825,69626,22527,22627,921

29,57432,35334,79936,77740,377

46,43656,93258,428

57,57557,62557,61558,04758,35258,149

58,02158,29558,28358,97358,82258,428

58,74859,38259,48760,00459,89460,108

60,33660,50260,21560,43860,516

Required

13,205

13,13813,73214,01414,40214,972

15,51015,59416,97517,82518,237

19,18720,51222,50423,51324,816

24,94025,47526,60527,86228,952

30,74732,52134,74736,98840,106

46,19856,08757,693

56,86256,68756,96357,94358,02157,462

57,73857,77858,02158,33858,12957,693

58,16358,44058,83259,51559,32559,750

60,23160,13760,02459,89459,936

Mone-tarybase

43,435

43,43644,47145,72647,98750,344

53,03155,11458,54562,63565,762

69,80074,51781,08487,62494,848

100,985108,557117,689128,295139,276

150,642158,870171,192187,005200,449

218,255240,799257,928

243,124244,524245,305247,301249,014249,450

250,409251,919253,024255,296256,938257,928

260,721262,019263,315265,809266,924268,309

270,626271,200272,446273,731274,473

Borrowings of depositoryinstitutions from the Federal

Reserve, NSA

Total

941

74133260332264

444532228746

1,119

332126

1,0501,298727

13053569868

1,473

1,690636634774

3,186

1,318827777

580556527993

1,035776

672647940943625777

1,082396

1,7522,9932,5783,083

3,4403,2412,8392,2992,861

Seasonal

4132

14135513582

116543396113

563893

347191120196259

28327923118912693

5975119146246311

376423421332186

Extendedcredit

147

12

1481862

2,604

499303483

225283264270288273

194132409449394483

372205

1,4782,6242,1072,554

2,5382,6532,0591,7812,322

1 Aggregate reserves incorporate adjustments for discontinuities associated with the implementation of the Monetary Control Act andother regulatory changes to reserve requirements/For details on aggregate reserves series see Federal Reserve Bulletin.

Note.—NSA indicates data are not seasonally adjusted.Source: Board of Governors of the Federal Reserve System,


TABLE B-70.—Commercial bank loans and securities, 1972-88

[Monthly average, billions of dollars, seasonally adjusted >]

Year and month

December:197219731974

197519761977.. .1978..1979

19801981 . ..19821983

• 1984

198519861987

1987- JanFebMarAprMay""•/June


1988: JanFebMar

MavJune

JulyAueSept"Oct..:::::::::::::::::Nov"

Totalloansand

securi-ties2

572.5647.9713.8

745.3804.9891.9

1,014.31,136.1

1,239.11,307.51,401.31,553.41,722.9

1,908.62,089.92,233.0

2,114.02,120.32,131.12,152.62,166.72,177.6

2,183.22,202.82,220.52,230.52,235.32,233.0

2,244.82,264.12,281.32,304.72,328.52,348.4

2.360.82,374.92,373.62,387.52,398.1

U.S.Govern-

mentsecuri-

ties

89.088.286.3

116.7136.3136.6137.6144.3

170.6179.3201.7259.1260.0

270.5309.3335.0

313.7314.9315.8318.7322.1322.3

323.9329.9333.1332.6332.6335.0

336.4336.4340.2343.8346.5350.5

348.0350.5352.5355.1356.8

Othersecu-rities

93.499.4

107.5

111.2113.5122.7129.3142.0

154.7160.9165.7170.6142.6

181.2196.1194.5

189.5191.8192.9194.1195.1195.4

194.0193.2193.0193.2195.1194.5

192.0193.7195.7196.6196.1196.5

196.8196.4194.2195.4194.8

Loans and leases

Total 2

390.1460.3520.0

517.3555.1632.6747.5849.8

913.9967.3

1,033.91,123.71,320.4

1,456.91,584.51,703.5

1,610.81,613.61,622.41,639.81,649.51,659.9

1,665.31,679.81,694.51,704.71,707.51,703.5

1,716.51,734.01,745.41,764.31,786.01,801.5

1,815.91,827.91,826.81,836.91,846.5

Com-mercial

andindus-trial

137.1165.0196.6

189.3190.9211.0246.2291.4

325.7355.4392.6414.1472.8

499.4535.6562.4

547.8547.7545.5548.1550.6552.9

553.1553.8558.4561.4561.3562.4

565.2569.3568.6578.1586.3592.4

598.3599.4597.1600.9599.2

Realestate

98.1117.3130.1

134.4148.8175.2210.5242.0

262.7284.2300.0331.0376.6

425.9494.0588.4

505.0510.3518.2526.3534.6545.0

552.2560.1566.6573.7581.2588.4

593.7599.2604.9611.3618.6625.0

631.4638.7644.7652.0659.2

Indi-vidual

86.398.6

102.4

104.9116.3138.3164.7184.5

179.2182.5188.2212.9253.6

293.7314.4327.8

315.4315.9316.6317.5318.8318.5

319.6321.9323.5324.6326.3327.8

329.8333.0337.0340.4342.8344.4

345.3347.0349.1349.6350.8

Secu-rity

15.612.912.7

13.517.721.019.718.7

17.921.325.227.833.9

42.039.133.4

38.739.840.144.643.644.0

43.945.546.247.139.333.4

36.542.141.239.539.839.4

38.640.136.338.437.5

Non-bankfinan-cial

insti-tutions

21.728.534.5

28.926.425.826.229.3

29.329.931.230.531.4

32.635.031.8

35.535.135.435.635.834.5

32.431.431.331.631.831.8

31.431.831.230.430.9

,30.6

31.030.829.929.829.8

Agri-cultural

14.317.218.3

20.123.225.828.231.1

31.633.136.239.240.1

36.131.629.5

31.230.730.229.930.030.0

29.829.729.629.629.529.5

29.629.529.329.429.629.7

29.629.429.329.329.8

Stateand

politi-cal

subdi-visions

""45.8

56.458.152.2

56.456.656.856.656.556.3

55.855.054.954.554.152.2

52.352.352.151.951.651.5

50.249.649.448.848.0

For-eign

banks

3.96.28.3

9.011.713.721.518.6

23.817.914.613.311.1

9.69.67.5

9.79.59.19.29.19.4

8.88.88.89.18.27.5

7.67.47.88.38.07.9

8.28.17.47.68.2

For-eign

officialinsti-

tutions

1.62.12.2

2.42.82.74.96.9

11.57.25.99.47.9

6.05.95.3

6.16.26.86.86.15.9

5.75.75.65.75.55.3

5.45.15.15.15.15.0

5.05.25.25.15.4

Leasefinanc-

ingreceiv-ables

1.42.13.2

4.05.15.77.49.3

10.912.713.313.716.1

19.022.424.6

22.422.322.322.723.023.0

23.023.223.524.024.624.6

25.125325.425.726.026.5

27.227.327.728.128.1

Other

10.110.311.6

10.912.213.318.218.2

21.423.126.631.731.2

36.038.740.5

42.639.441.442.341.540.5

40.944.746.143.445.840.5

39.839.142.744.147.249.0

51.052.350.747.350.5

1 Data are prorated averages of Wednesday figures for domestically chartered banks and averages of weekly data for foreign-relatedinstitutions beginning July 1981. Prior to July 1981, data for foreign-related institutions are averages of current and previous month-enddata. Lease financing receivables are included in total loans and investments and in total loans.

2 Excludes toans to commercial banks in the United States.

Note.—Data are not strictly comparable because of breaks in the series.



TABLE B-71.—Bond yields and interest rates, 1929-88

[Percent per annum]

Yearand

month

1929. ..19331939 . ..1940 ..1941194219431944194519461947194819491950195119521953195419551956195719581959

19601961196219631964196519661967196819691970197119721973197419751976197719781979198019811982198319841985198619871988 "..,.

1983:Jan...Feb...Mar..

fcJune.ftOct...Nov...Dec...

U.S. Treasury securities

Bills(new issues) 1

3-month

0.515.023014103

.326

.373

.375

.375

.375

.5941,0401.1021.2181.55217661.931.953

1.7532.6583.2671.8393.4052.9282,3782.7783.1573.5493,9544,8814.3215.3396.677

6.4584.3484.0717.0417.8865.8384.9895.2657.221

10.041

11.50614.02910.6868.639.587.48

. 5.985.826.69

7.8108.1308.3048.2528.198.829.129.399.058.718.718.96

6-month

....

..... ... ..

3.832

3.2472,6052.9083.2533.6864.0555.0824.6305.4706.8536.5624.5114.4667.1787.9266.1225,2665.5107.572

10.017

11.37413.77611.0848.759.807.666.036.056.92

7.8988.2338.3258.3438.208.899.299.539.198.908.899.14

Constantmaturities8

3-year

2.471.632.473.193.982.844.463.983.543.473.674,034.225.235.035.687.027.295.655.726.957.827.496,776.698.299.71

11.5514.4412.9210.4511,899.647.067.688.26

9.649.919.849.769.66

10.3210.9011.3011.0710.8710.9611.13

10-year

2.852.402.823.183,653.324.334.123.883.954.004.194,284.925.075.656.677.356.166.216.847.567.997.617.428.419.44

11.4613.9113.0011.1012.4410.627.688.398.85

10.4610.7210.5110.4010.3810.8511.3811.8511.6511.5411.6911.83

Corporatebonds

(Moody's)

Aaa3

4.734,493.012.842.772.832.732.722.622.532.612,822.662.622.862.963.202.903.063.363,893.794.384.414.354.334.264.404.495.135.516.187.038.047.397.217.448.578.838.438.028.739.63

11.9414.1713.7912.0412.7111.379.029.389.71

11.7912.0111.7311.5111.4611.7412.1512.5112.3712.2512.4112.57

Baa

5.907.764.964.754.334.283.913.613.293.053.243.473.423.243.413.523.743.513.533.884.714.735.055.195.085.024.864.834.875.676.236.947.819.118.568.168.249.50

10.619.758.979.49

10.6913.6716.0416.1113.5514.1912.7210.3910.5810.83

13.9413.9513.6113.2913.0913.3713.3913.6413.5513.4613.6113.75

High-grade

munici-pal

bonds(Stand-ard &

Poor's)

4,274.712.762.502.102.362.061.861.671.642.012.402.211.982.002.192.722.372.532.933.603.563.953.733.463.183.233.223.273.823.984.515.816.515.705.275.186.096.896.495.565.906.398.51

11.2311.579.47

10.159.187.387.737.76

9.459.489.168.969.039.519.469,729.579.649.799.90

New-home

3?e)«

• ""'•"«'••

5.895.825.816.256.466.977.808.457.747.607.968.929.009.009.029.56

10.7812.6614.7015.1412.5712.3811.5510.179.31

13.4913.1613.4112.4212.6712.3612.5012.3812.5412.2512.3412.42

Com-mercialpaper, 6months5

5.851.73,59.56.53.66.69.73.75.81

1.031.441.491.452.162.332.521.582.183.313.812.463.973.852.973.263.553.974.385.555.105.907.837.715.114.738.159.846.325.345.617.99

10.9112.2914.7611.898.89

10.168.016.396.857.68

8.158.398.488.488.319.039.369.689.288.989.099.50

Prime ratecharged by

banks0

5.50-6.001.50-4.00

1.501.501.501.501.501.501.501.50

1.50-1.751.75-2.00

2.002.072.563.003.173.053.163.774.203.834.484.824.504.504.504.504.545.635.616.307.967.915.725.258.03

10.817.866.846.839.06

12.6715.2718.8714.8610.7912.049.938.338.229.32

High-low

11.50-11.0011.00-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.5011.00-10.5011.00-11.0011.00-11.0011.00-11.0011.00-11.00

Discountrate,

FederalReserveBank of

New York"

5.162.561.001.001.00

H.OO8 1.008 1.008 1.008 1.001.001.341.501.591.751.751.991.601.892.773.122.153.363.533.003.003.233.554.044.504.195.165.875.954.884.506.447.836.255.505.467.46

10.2811.7713.4211.028.508.807.696.335.666.20

High-low

8.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.508.50- 8.50

Federalfundsrate7

iir.

EE

1.782.733.111.573.303.221.962.683.183.504.075.114.225.668.207.184.664.438.73

10.505.825.045.547.93

11.1913.3616.3812.269.09

10.238.106.816.667.57

8.688.518.778.808.638.989.379.569.459.489.349.47

1 Rate on new issues within period; bank-discount basis.2 Yields on the more actively traded issues adjusted to constant maturities by the Treasury Department.3 Series excludes public utility issues for January 17, 1984 through October 11, 1984 due to lack of appropriate4 Effective rate (in the primary market) on conventional mortgages, reflecting fees and charges as well as contract rate andassuming, on the average, repayment at end of 10 years. Rates beginning January 1973 not strictly comparable with prior rates.

issues.



TABLE B-71.—Bond yields and interest rates, 1929-SS—Continued

[Percent per annum]

Yearand

month

1984:JanFebMar ....AprMay..,.June.,July....Aug....Sept...OctNovDec

1985:JanFebMarAprtfay....June...July ....

SeptOctNOV!!!!!Dec

1986:JanFebMar ....AprMay..,June ...July ....Aug....Sept...Oct.....NovDec

1987:JanFebMar....torMay....June...July .. .Aug.. .Sept..Oct....Nov... .Dec... .

1988:Jan,..Feb..,Mar.,Apr,..MayJune!!July,.Aug...Sept,Oct.,.Nov....Dec*

U.S. Treasury securities

Bills(new issues) 1

3-month

8.939.039.449.699.909.94

10.1310.4910.419.978.798.16

7.768.228.578.007.567.017.057.187.087.177:207.07

7.047.036;596.066.126.215.845:575:195.185.355.49

5.455.595:565.765.755.695J86.006.326.405:815.80

5.905.695.695.926.276.506.737.027.237.347.688.09

6-month

9.069.139.589.83

10.3110.5510.5810.6510.5110.058.998.36

8.038.348.928.317.757.167.167.357.277.327.267.09

7.137.086.606.076.166.285.855.585.315.265.425,53

5.475.605.565.936.115.995.866.146.576.866.236.36

6.315.965.916.216.536.766.977.367.437.507.768.24

Constantmaturities^

3-year

10.9311.0511.5911.9812.7513.1813.0812.5012.3411.8510.9010.56

10.4310.5511.0510.499.759.059.189.319.379.258.888.40

8.418.107.306.867.277.416.866.496.626.566.466.43

6.416.566.587.328.027.827.748.038.678.757.998.13

7.877.387.507.838.248.228.448.778.578.438.729.11

10-year

11.6711.8412.3212.6313.4113.5613.3612.7212.5212.1611.5711.50

11.3811.5111.8611.4310.8510.1610.3110.3310.3710.249.789.26

9.198.707.787.307.717.807.307.177.457.437.257.11

7.087.257.258.028.618.408.458.769.429.528.868.99

8.678.218.378.729.098.929.069.268.988.808.969.10

CorporatehnnHtDonos

(Moody's)

Aaa3

12.2012.0812.5712.8113.2813.5513.4412.8712.6612.6312.2912.13

12.0812.1312.5612.2311.7210.9410.9711.0511.0711.0210.5510.16

10.059,679.008.799.099.138.888.728.898.868.688.49

8.368.388.368.859.339.329.429.67

10.1810.5210.0110.11

9.889.409.399.679.909.869.96

10.119.829.519.459.56

Baa

13.6513.5913.9914.3114.7415.0515.1514.6314.3513.9413.4813.40

13.2613.2313.6913.5113.1512.4012.4312.5012.4812.3611.9911.58

11.4411.1110,4910.1910.2910.3410.1610.1810.2110.2410.079.97

9.729.659.61

10.0410;5110.5210.6110.8011.3111.6211,2311.29

11.0710.6210.5710.9011.0411.0011.1111.2110.9010.4110.4810.64

High-grade

munici-pal

bonds(Stand-ard &

Poor's)

9.619.639.929.98

10.5510.7110.5010.0310.1710.3410.2710.04

9.559.669.799.489.088.788.909.189,379.248.648.51

8.067.447.077.327.677.987.627.317.147.126.866.93

6.636.666.717.628.107.897.837.908.368.848.098.07

7.817.557.807.918.017.867.877.867.717.547.587.66

New-home

mortgageyieFds

(FHLBB)*

12.2912.2312.0212.0412.1812.1012.5012.4312.5312.7712.7512.55

12.2712.2111.9212.0512.0111.7511.3411.2411.1711.0911.0110.94

10.8910.6810.5010.2710.2210.1510.3010.2610.1710.029;919.69

9.519.239.149.219.379.459.419.389.379.259.309.15

9.109.129,159.138.959.269.179.069.269.109.43

Com-mercial

paper, 6months8

9.189.319.86

10.2210.8711.2311.3411.1610.9410.169,068.55

8.158.699.238.477.887.387.577.747.867.797.697.62

7.627.547.086.476.536.636.245.835.615.615,695.88

5.765.996.106.507.047.006.726.817.557.967.177.49

6.926.586.646.927.317.537.908.368.238.248.558.98

Prime ratecharged by

banks8

High-low

11.00-11.0011.00-11.0011.50-11.0012.00-11.5012.50-12.0013.00-12.5013.00-13.0013.00-13.0013.00-12.7512.75-12.0012.00-11.2511.25-10.75

10.75-10.5010.50-10.5010.50-10.5010.50-10.5010.50-10.0010.00- 9.509.50- 9.SO9.50- 9.509.50- 9.509.50- 9.509.50- 9.509.50- 9.50

9.50- 9.509.50- 9.509.50- 9.009.00- 8.508.50- 8.508.50- 8.508.50- 8.008.00- 7,507.50- 7.507.50- 7.507.50- 7.507.50- 7.50

7.50- 7.507.50- 7.507.50- 7.507.75- 7.758.25- 8.008.25- 8.258.25- 8.258.25- 8:258.75- 8.259.25- 8.759.00- 8.758.75- 8.75

8.75- 8.758.75- 8.508.50-8.508.50- 8.509.00-8.509.00- 9.009.50- 9.00

10.00- 9.5010.00-10.0010.00-10.0010.50-10.0010.50-10.50

Discountrate,

FederalReserveBank of

New York"

High-low

8.50- 8.508.50- 8.508.50- 8.509.00- 8.509.00- 9.009.00- 9.009.00- 9.009.00- 9.009.00- 9.009.00- 9.009.00- 8.508.50- 8.00

8.00- 8.008.00- 8.008.00- 8.008.00- 8.008.00- 7.507.50- 7.507.50- 7.507.50- 7.507.50- 7.507.50- 7.507.50- 7.507.50- 7.50

7.50- 7.507.50- 7.507.50- 7.007.00- 6.506.50- 6.506.50- 6.506.50- 6.006.00- 5.505.50- 5.505.50- 5.505.50- 5.505.50- 5.50

5.50- 5.505.50- 5.505.50- 5.505.50- 5.505.50- 5.505.50^ 5.505.50- 5.505.50- 5.506.00- 5.506.00- 6.006.00- 6.006.00- 6.00

6.0*0- 6.006.00- 6.006.00- 6.006.00- 6.006.00- 6.006.00- 6.006.00- 6.006.50- 6.006.50- 6.506.50- 6.506.50-6.506.50- 6.50

Federalfundsrate7

9.569.599.91

10.2910.3211.0611.2311.6411.309.999.438.38

8.358.508.588.277.977.537.887.907.927.998.058.27

8.147.867.486.996.856.926.566.175.895.856.046.91

6.436.106.136.376.856.736.586.737.227.296.696.77

6.836.586.586.877.097.517.758.018.198.308.358.74

5 Bank-discount basis; prior to November 1979r data are for 4-6 months paper.6 For monthly data, high and low for the period. Prime rate for 1929-33 and 1947-48 are ranges of the rate in effect during theperiod.

7 Since July 19, 1975, the daily effective rate is an average of the rates on a given day weighted by the volume of transactions atthese rates. Prior to that date, the daily effective rate was the rate considered most representative of the day's transactions, usuallythe one at which most transactions occurred.8 From October 30, 1942, to April 24, 1946, a preferential rate of 0.50 percent was in effect for advances secured by Governmentsecurities maturing, in 1 year or less.

Sources: Department of the Treasury, Board of Governors of the Federal Reserve System, Federal Home Loan Bank Board (FHLBB),Moody's Investors Service, and Standard & Poor's Corporation.


TABLE B-72.—Total funds raised in credit markets by nonfinancial sectors, 1979-88


Item

Total net borrowing by domestic nonfinancial sectors..

U S Government

Treasury issuesAgency issues and mortgages

Private domestic nonfinancial sectors. .

Debt capital instruments

Tax-exempt obligationsCorporate bonds.Mortgages

Home mortgagesMulti-family residentialCommercialFarm

Other debt instruments .

Consumer creditBank loans n.e.cOpen-market paper .. , .Other

By borrowing sector:

State and local governmentsHouseholdsNonfinancial business

FarmNonfarm noncorporateCorporate

Foreign net borrowing in United States

BondsBank loans n e eOpen-market paperU S Government and other loans

Total domestic plus foreign

Total funds supplied to domestic nonfinancial sectors..

Private domestic nonfinanciai sectors

Deposits and currency

Checkable deposits and currencyTime and savings depositsMoney market fund sharesSecurity repurchase agreementsForeign deposits

Credit market instruments

Foreign funds

At banks.. .Credit market instruments

U.S. Government and related loans, netU S Government cash balancesPrivate insurance and pension reservesOther sources

1979 1980 1981 1982 1983 1984 1985 1986 1987

Net credit market borrowing by nonfinancial sectors

383.5

37.4

38.8-1.4

346.2

212.5

30.317.3

164.9

116.610.024.414.0

133.7

40.548.59.0

35.6

346.2

17.6171.5157.0

23.565.668.0

15.0

3.73.11.76.5

398.5

343.1

79.2

79.8-.6

263.9

190.8

30.327.7

132.9

95.37.6

19.210.7

73.1

2.636.54.0

30.0

263.9

17.2117.3129.4

15.855.857.8

24.2

1.211.82.48.8

367.2

370.8

87.4

87.8

283.5

155.3

23.422.8

109.2

72.44.8

22.29.7

128.1

16.948.114.748.5

283.5

6.8113.9162.8

16.344.4

102.1

23.5

5.53.03.9

11.1

394.3

388.7

161.3

162.1-.9

227.4

151.1

44.218.788.2

53.45.4

25.24.1

76.4

16.450.4

-=6.115.8

227.4

21.584.0

121.9

6.771.843.4

16.0

6.6-5.5

1.913.0

404.7

546.8

186.6

186.7-.1

360.2

257.6

53.716.0

187.9

120.414.151.02.4

102.6

49.023.2-.831.3

360.2

34.0186.1140.1

3.981.954.4

17.3

3.13.66.54.1

564.1

750.8

198.8

199.0-.2

552.0

319.3

50.446.1

222.8

136.725.262.2

-1.2

232.7

81.667.121.762.2

552.0

27.4231.5293.1

— 4123.2170.3

8.4

3.8-6.6

6.25.0

759.2

846.3

223.6

223.71

622.7

452.3

136.473.8

242.2

156.829.862.2

-6.6

170.3

82.538.614.634.6

622.7

91.8283.6247.3

145129.3132.4

1.2

3.8-2.8

6.2-5.9

847.5

830.6

215.0

214.7.4

615.6

460.7

30.8121.3308.6

210.933.573.6

-9.5

154.9

54.469.3

-9.340.5

615.6

44.3286.1285.1

-16.3127.6173.8

9.6

3.0-1.011.5

-3.9

840.2

680.6

143.8

142.31.5

536.8

446.1

34.599.9

311.6

221.724.372.0= 6.4

90.7

40.78.82.3

38.9

536.8

34.4261.5240.8

-11.2115.8136.3

4.3

6.8-3.6

2.1-1.0

685.0

Direct and indirect supply of funds to credit markets

383.5

254.8

147.4

27.874.833.06.75.1

107.4

16.0

26.4-10.4

16.3.4

74.721.2

343.1

233.2

185.9

17.4127.428.5

9.82.8

47.3

.2

-25.125.3

3.926

86.122.3

370.8

284.4

223.1

28.184.2

102.210.217

61.3

2.9

-22.625.5

10.21 1

83.4-9.0

388.7

303.3

210.8

28.3133.433.516.1-.4

92.5

-8.6

=32.323.7

8.36.1

114.7-35.0

546.8

378.7

227.8

43.1207.1

39013.53.1

150.9

38.2

14.623.7

9.053

115.011.2

750.8

494.6

325.4

36.6235.049.010.051

169.2

66.7

8.857.9

16.54.0

124.045.0

846.3

503.7

220.9

53.3146.2

8.914.62 1

282.9

82.0

19.762.3

28.010.3

131.990.4

830.6

371.8

285.0

107.7109.241.520.85.9

86.7

110.7

12.997.8

18.71.7

144.3183.5

680.6

329.2

162.4

16.6103.528.216.9

=2.8

166.8

106.2

43.762.5

3.7= 5.8175.072.4



TABLE B-72.—Total funds raised in credit markets by nonfinancial sectors, 1979-88—Continued


Item

Total net borrowing by domestic nonfinancial sectors

U S Government

Treasury issuesAgency issues and mortgages

Private domestic nonfinancial sectors

Debt capital instruments

Tax-exempt obligationsCorporate bondsMortgages

Home mortgagesMulti-family residentialCommercialFarm

Other debt instruments

Consumer creditBank loans n e eOpen-market paperOther

By borrowing sector:

State and local governmentsHouseholds .Nonfinancial business

FarmNonfarm noncorporateCorporate

Foreign net borrowing in United States

BondsBank loans n e e .Open-market paperU S Government and other loans

Total domestic plus foreign

Total funds supplied to domestic nonfinancial sectors

Private domestic nonfinancial sectors

Deposits and currency

Checkable deposits and currencyTime and savings depositsMoney market fund sharesSecurity repurchase ageementsForeign deposits

Credit market instruments

Foreign funds

At banksCredit market instruments

U S Government and related loans netU S Government cash balancesPrivate insurance and pension reservesOther sources

1987

1 II III IV

1988

1 II III

Net credit market borrowing by nonfinancial sectors

552.0

161.6

157.73.9

390.3

473.3

38.7128.9305.7

224.227.466.5

-12.4

-83.0

-IW.B-.525.5

390.3

37.0197.3156.0

-23.5108.471.2

87

3.0-1.2-4.2-6.4

543.3

751.7

145.2

147,1-1.9

606.4

466.7

33.188.5

345.1

243.530.977.2

-6.6

139.7

52.436.6.

4.746.1

606.4

31.4302.7272.4

-12.7125.7159.4-

-.1

-4.1-3.5-6.413.9

751.6

652.1

101.8

102.7-.9

550.3

428.1

32.7100.7294.7

212.123.164.1

-4.7

122.2

61.421.0

1.038.7

550.3

34.8281.2234.2

-9.4105,4138.3

12.3

6.7-3.721.6

-12.3

664.3

766.8

166.7

161.85.0

600.1

416.1

33.581.6

301.1

206.915.980.2

-1.9

184.0

49.485.33.9

45.5

600.1

34.6264.9300.7

.8123.8176.1

13.9

21.6-6.1-2.5

.8

780.7

731.8

226.3

226.85

505.6

363.3

24.8101.3237.1

177.921.443.2

-5.4

142.3

34.840.4

-3.870.9

505.6

22.3220.0263.3

-12.591:0

184.9

-1.0

16.8.7

1.5-19.9

730.9

704.0

57.6

79.87.7

616.5

45,2,2

32.6118.4301.2

228.014.060.8

-1.6

164.2

59.574.2

4.026.6

616.5

31.1288.0297.3

-3.687.1

213.9

4.9

-2.9-3.5

6.44.9

709.0

760.4

195.5

174.620.9

564.9

457.1

44.490.8

322.0

210.133.572.75.7

107.8

43,32.6

11.150.7

564.9

41.3250.9272.7

1.3120.3151.1

9.7

7.4.3

10.7-8.8

770.1

Direct and indirect supply of funds to credit markets

552.0

44.3

466

-89.345.114.422.1

-38.9

90.9

80.0

14.965.1

21.0-36.9195.1248.5

751.7

388.5

149.2

52.874.1-2.424.3

-4.4

239.3

119.9

35.184.8

-2.243.6

191.110.8

652.1

349.1

229.3

51.880.132.746.618.1

119.8

118.7

99.519.1

-5.86.1

194.8=-10.8

766.8

534.9

317.6

51.2214.763.325613.9

217.3

106.2

25.281.0

1.7-36.1118.941.2

731.8

275.8

282.7

12.5207.1

59.117.3133

-6.9

92.8

80.1172.9

27553.3

247.689.9

704.0

315.8

134.9

33.4117.9

-34.822.7

=4.3

180.9

188.9

106.682.2

-9.4-17.5207.8

18.5

760.4

472.9

256.7

16.9194.113.0-.433.1

216.2

19.0

-39.258.2

-11.4-1.9173.7108.0

Source: Board of Governors of the Federal Reserve System,


TABLE B-73.—Mortgage debt outstanding by type of property and of financing, 1939-88


End of yearor quarter

1939

194019411942194319441945....1946194719481949

19501951195219531954195519561957 ...,19581959

I960196119621963196419651966196719681969

197019711972197319741975 „1976 1197719781979

19801981198219831984198519861987

1986: 1IIHIIV

1987- 1IIIllIV

1988- 1||II I

•Allproper-

ties

35.5

36.537.636.735.334.735.541.848.956.262.7

72.882.391.4

101.3113.7129.9144,5156.5171.8190.8

207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6

473.7524.2597.4672.6732.5791,9878.6

1,010.31,163.01,328.4

1,460.41,566,71,637.91,825.42,051.42,289.82,597.22,943.1

2,341.02,410.42,498.62,597.2

2,698.82,792.72,864.72,943.1

2,988.13,067.63,152.0

Farmproper-

ties

6.6

6.56.46.05.44.94.84.95.15.35.6

6.16.77.27.78.29.09.8

10.411.112.1

12.813.915,216.818.921.223.125.127.529.4

30.532.435.439.844.949.955.463.972.886.8

97.5107.2111.3113.7112.4105.995.888.9

104.2101.199.195.8

92.891.390.088.9

88.287.987.4

Nonfarm properties

Total

28.9

30.031.230.829.929.730.836.943.950.957.1

66.775.684,293.6

105.4120.9134.6146.1160.7178.7

194.7214.1236.2261.7287.0312.1333.4356.1383.5412.2

443.2491.8562.0632.8687.5742.0823.2946.4

1,090.21,241:7

1,362.91,459.51,526.61,711.71,939.02,184.02,501.42,854.3

2,236.82,309.32,399.52,501.4

2,606.02,701.42,774.82,854.3

2,899.92,979.63,064.5

l-to4-familyhouses

16.3

17.418.418.217.817.918.623.028.233.337.6

45.251.758.566.175.788.299.0

107.6117.7130.9

141.9154.6169.3186.4203.4220.5232.9247.3264.8283.2

297.4325.9366.5407.9440.7482.1546.3642.7753.5870.5

965.11,039.81,080.01,198.51,334.31,488.01,698.51,925.2

1,517.41,568.71,634.81,698.5

1,746.81,817.51,870.61,925.2

1,955.82,015.62,081.0

Multi-familyproper-

5.6

5.75.95.85.85.65.76.16.67.58.6

10.111,512.312.913.514.314.915.316.818.7

20.323.025.829.033.637.240.343.947.352.2

60.170.182.893.1

100.0100.6105.7114.0124.9134.9

142.3142.1145.7160.7185.4214.5247.8273.8

222.1230.1238.5247.8

258.2263.9268.9273.8

277.6282.5285.6

Com-mercialproper-

ties

7.0

6.97.06.76.36.26.47.79.1

10.210.8

11.512.513.414.516.318.320.723.226.129.2

32.436.541.146.250.054.560.164.871.476.9

85.695.9

112.7131.7146.9159.3171.2189.7211.8236.3

255.5277.5300.9352.4419.3481.5555.0655.2

497.3510.6526.2555.0

601.0620.1635.2655.2

666.5681.5697.9

Nonfarm properties by type of mortgage

Government underwritten

Total '

1.8

2.33.03.74.14.24.36.39.8

13.617.1

22.126.629.332.136.242.947.8.51.655.259.3

62.365.669.473.477.281.284.188.293.4

100.2

109.2120.7131.1135.0140.2147.0154.1161.7176.4199.0

225.1238.9248.9279.8294.8328.3370.7430.9

339.9349.7360.4370.7

386.0403.7421.2430.9

438.9443.0450.8

1- to 4-family houses

Total

1.8

2.33.03.74.14.24.36.1

. 9.312.515.0

18.822.925.428.132.138.943.947.250.153.8

56.459.162265.969.273.176.179.984.490.2

97.3105.2113.0116.2121.3127.7133.5141.6153.4172.9

195.2207.6217.9248.8265.9288.8328.9387.4

299.1308.3319.5328.9

344.0360.9378.1387.4

395.2398.8406.4

FHAinsured

1.8

2.33.03.74.14.24.13.73.85.36.9

8.59.7

10.812.012.814.315.516.519.723.8

26.729.532.335.038.342.044.847.450.654.5

59.965.768.266.265.166.166.568.071.481.0

93.6101.3108.0127.4136.7153.0185.5235.5

150.6168.9176.8185.5

196.6211.6226.9235.5

241.7245.3251.9

VAguar-

anteed

ol2.45.57.28.1

10.313.214.616,119.324.628.430.730.430.0

29.729.629.930.930.931.131.332.533.835.7

37.339.544.750.056.261.667.073.682.092.0

101.6106.2

ffi129.1135,8143.4151.9

138.5139,4142.7143.4

147.4149.3151.2151.9

153.6153.6154.5

Conventional 2

Total

27.1

27.728,227.125.825.526.530.634.137.340.0

44.749.154.961.569.378.086.894.6

105.5119.4

132.3148.5166.9188.2209.8231.0249.3267.9290.1312.0

333.9371.1430.9497.7547.3595.0669.0784,6913.9

1,042.7

1,137.8m1,431.91,644.21,855.72,130.72,423.4

1,896.91,959.62,039.12,130.7

2,220.02,297.72,353.62,423.4

2,461.02,536.72,613.7

l-to4-familyhouses

14.5

15.115.414.513.713.714.316.918.920.822.6

26.328.933.238.043.649.355.160.467.677.0

85.595.5

107.1120.5134.1147.4156.9167.4180.4193.0

200.2220.7253.5291.7319.4354.3412.8501.0600.2697.6

769.9832.2862.2949.6

1,068.51,199.21,369.71,537.8

1,218.31,260.41,315.31,369.7

1,402.81,456.51,492.61,537.8

1,560.51,616.81,674.6

1 Includes FHA insured multifamily properties, not shown separately.8 Derived figures. Total includes multifamily and commercialrcial properties, not shown separately.Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.


TABLE B-74.—Mortgage debt outstanding by holder, 1939-88


End of yearor quarter

1939

19401941194219431944 . . . . . .1945194619471948. ..1949

1950195119521953195419551956195719581959

19601961 .19621963196419651966196719681969

1970197119721973197419751976197719781979

19801981 .198219831984198519861987

1986- 1 . ... ...||I I IIV

1987- 1 .III I I . .IV

1988: 1||I I I

Total

35.5

36.537.636.735.334.735.541.848.956.262,7

72.882.391.4

101.3113.7129.9144.5156.5171.8190.8

207.5228.0251.4278.5305.9333.3356.5381.2411.1441.6

473.7524.2597.4672.6732.5791.9878.6

1,010.31,163.01,328.4

1,460.41,566.71,637.91,825.42,051.42,289.82,597.22,943.1

2,341.02,410.42,498.62,597.2

2,698.82,792.72,864.72,943.1

2,988.13,067.63,152.0

Major financial institutions

Total

18.6

19.520.720.720.220.221.026.031.837.842.9

51.759.566.975.185.799.3

111.2119.7131.5145.5

157.6172.6192.5217.1241.0264.6280.8298.8319.9339.1

355.9394.2450.0505.4542.6581.2647.5745.2848.2938.2

996.81,040.51,021.31,108.21,245.91,361.51,473.71,660.5

1,379.01,405.11,432.81,473.7

1,524.61,570.11,610.01,660.5

1,682.31,730.91,783.9

Savingsinstitu-tions1

8.6

9.09.49.29.09.19.6

11.513.816.118.3

21.925.529.8.34.941.148.955.561.268.978.1

87.098.0

111.1127.2141.9154.9161.8172.3184.3196.3

208.3236.2273.7305.0324.2355.8404.6469.4528.0574.6

603.1618.5578.1626.7709.7760.5777.3856.9

762.9768.4772.2777.3

809.2825.0838.7856.9

863.1881.9 '905.4

Commer-cial

banks2

4.3

4.64.94.74.54.44.87.29.4

10.911.6

13.714.715.916.918.621.022.723.325.528.1

28.830.434.539.444.049.754.459.065.770.7

73.382.599.3

119.1132.1136.2151.3179.0214.0245.2

262.7284.2301.3330.5379.5429.2502.5591.2

441.1456.2474.7502.5

519.6544.8567.0591.2

604.4628.1653.3

Lifeinsur-ancecom-

panies

5.7

6.06.46.76.76.76.67.28.7

10.812.9

16.119.321.323.326.029.433.035.237.139.2

41.844.246.950.555.260.064.667.570.072.0

74.475.576.981.486.289.291.696.8

106.2118.4

131.1137.7142.0151.0156.7171.8193.8212.4

175.0180.5186.0193.8

195.7200.4204.3212.4

214.8220.9225.2

Other holders

Federaland

relatedagen-cies3

5.0

4.94.74.33.63.02.42.01.81.82.3

2.83.54.14.64.85.36.27.78.0

10.2

11.512.212.611.812.213.517.520.925.131.1

38.346.454.664.882.2

101.1116.7140.5170.6216.0

256.8289.4355.4433.4491.1582.0735.4863.1

605.7637.0682.2735.4

774.9811.7839.6863.1

880.0895.8918.8

Individ-uals andothers 4

11.9

12.012.211.711.511.512.113.815.316.617.5

18.419.320.421.723.225.327.129.132.335.1

38.443.146.349.552.755.258.261.466.171.4

79.483.692.8

102.4107.7109.6114.4124.6144.3174.3

206.8236.8261.2283.7314.5346.4388.1419.6

356.2368.3383.6388.1

399.3411.0415.1419.6

425.7440.9449.3

1 Includes savings banks and savings and loan associations. Beginning 1987, data reported by Federal Savings and Loan InsuranceCorporation-insured institutions include loans in process.

2 Includes loans held by nqndeposit trust companies, but not by bank trust departments.3 Includes Government National Mortgage Association (GNMA), Federal Housing Administration, Veterans Administration, Farmers Home

Administration (FmHA), and in earlier years Reconstruction Finance Corporation, Homeowners Loan Corporation, Federal Farm MortgageCorporation, and Public Housing Administration. Also includes U.S.-sponsored agencies such as Federal National Mortgage Association(FNMA), Federal Land Banks, Federal Home Loan Mortgage Corporation (FHLMC), and mortgage pass-through securities issued orguaranteed by GNMA, FHLMC, FNMA or FmHA. Other U.S. agencies (amounts small or current separate data not readily available)included with "individuals and others."

4 Includes private mortgage pools.Source: Board of Governors of the Federal Reserve System, based on data from various Government and private organizations.


TABLE B-75.—Consumer credit outstanding, 1950-88

[Amount outstanding (end of month); millions of dollars, seasonally adjusted]

Year and month

December:19501951 ..19521953 ..19541955 ..1956195719581959

1960196119621963 .19641965 ..1966196719681969

19701971..1972197319741975 ..1976197719781979

19801981198219831984198519861987

1987: JanFebMar

ftJune



JulyAugSeptOct"

Totalconsumercredit

23,29524,62429,76633,76935,02741,88545,50348,13248,35655,878

60,03562,34068,23176,60685,98995,948101,839106,716117,231126,928

131,600147,058166,009190,601199,365204,963228,162263,808308,272347,507

349,386366,597381,115430,382511,768592,409646,055685,545

645,672649,352650,075654,118655,027661,432

666,764670,671676,107680,666682,926685,545

689,705695,104699,556703,686706,795712,882

715,375720,947720,839723,282

Installment credit 1

Total

15,16615,85920,12123,87024,47029,80932,66034,91434,73640,421

44,33545,43850,37557,05664,67472,81478,16281,78390,11299,381

103,905116,434131,258152,910162,203167,043187,782221,475261,976296,483

297,566310,682323,536367,868442,538517,755571,833613,022

570,966573,612575,453580,073581,235587,878

593,513598,190602,977606,926608,728613,022

619,258624,294629,485633,336636,318644,372

647,993653,317653,319656,880

Automobile

6,0355,9817,6519,7029,75513,48514,49915,49314,26716,641

18,10817,65620,00122,89125,86529,37831,02431,13634,35236,946

36,34840,52247,83553,74054,24156,98966,82180,94898,739112,475

111,936118,956124,218143,799173,704209,636246,109267,180

246,995248,318249,498251,211251,741254,212

256,585259,558261,902263,823264,474267,180

269,883273,133276,762278,567279,418282,254

283,359285,560284,782286,101

Revolving 2

2,0223,563

4,9008,2529,39111,31813,23214,50716,59536,68945,20253,357

54,89460,83866,24378,667100,212122,013136,381159,307

135,592137,238137,761140,340141,877144,777

147,809149,815152,553155,196156,425159,307

162,065163,462165,643167,356169,154172,809

174,927177,568178,675180,841

Mobile home 3

2,4337,1719,46813,50514,58215,38815,73816,36216,92118,207

18,62120,30222,83323,70425,79526,83426,88325,957

26,95826,93326,81126,82526,63926,810

26,96626,87926,84526,69826,60425,957

25,92625,85725,73225,76425,70325,852

25,88225,91525,74625,645

Other

9,1319,87812,47014,16814,71516,32418,16119,42120,46923,780

26,22727,78230,37434,16538,80943,43647,13850,64753,73858,872

60,22460,48964,56474,34780,14880,15988,62887,476101,114112,444

112,115110,586110,242121,698142,827159,272162,460160,578

161,421161,123161,383161,697160,978162,079

162,153161,938161,677161,209161,225160,578

161,384161,842161,348161,649162,043163,456

163,825164,274164,116164,294

Noninstallmentcredit 4

8,1298,7659,6459,89910,55712,07612,84313,21813,62015,457

15,70016,90217,85619,55021,31523,13423,67724,93327,11927,547

27,69530,62434,75137,69137,16237,92040,38042,33346,29651,024

51,82055,91557,57962,51469,23074,65474,22272,523

74,70675,74074,62274,04573,79273,554

73,25172,48173,13073,74074,19872,523

70,44770,81070,07170,35070,47768,510

67,38267,63067,52066,402

1 Installment credit covers most short- and intermediate-term credit extended to individuals through regular business channels,usually to finance the purchase of consumer goods and services or to refinance debts incurred for such purposes, and scheduled to berepaid (or with the option of repayment) in two or more installments. Credit secured by real estate is generally excluded.2 Consists of credit cards at retailers, gasoline companies, and commercial banks, and check credit at commercial banks. Excludes 30-day charge credit held by travel and entertainment companies. Prior to 1968, included in "other," except gasoline companies, includedin noninstallment credit prior to 1971. Beginning 1977, includes open-end credit at retailers, previously included in "other." Alsobeginning 1977, some retail credit was reclassified from commercial into consumer credit.

3 Not reported separately prior to July 1970.4 Noninstallment credit is credit scheduled to be repaid in a lump sum, including single-payment loans, charge accounts, and servicecredit. Because of inconsistencies in the data and infrequent benchmarking, series is no longer published by the Federal Reserve Boardon a regular basis. Data are shown here as a general indication of trends.



GOVERNMENT FINANCE

TABLE B-76.—Federal receipts, outlays, surplus or deficit, and debt, selected fiscal years, 1929-90

[Billions of dollars; fiscal years]

Fiscal yearor period

192919331939

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976Transition

quarter ...197719781979

19801981198219831984

19851986198719881989 2

19902

Total

Re-ceipts

3.9206.3

6.58.7

14.624.043.7

45.239.338.541.639.4

39.451.666.269.669.7

65.574.680.079.679.2

92.594.499.7

106.6112.6

116.8130.8148.8153.0186.9

192.8187.1207.3230.8263.2

279.1298.1

81.2355.6399.6463.3

517.1599.3617.8600.6666.5

734.1769.1854.1909.0975.5

1,059.3

Outlays

3.1469.1

9.513.735.178.691.3

92.755.234.529.838.8

42.645.567.776.170.9

68.470.676.682.492.1

92.297.7

106.8111.3118.5

118.2134.5157.5178.1183.6

195.6210.2230.7245.7269.4

332.3371.8

96.0409.2458.7503.5

590.9678.2745.7808.3851.8

946.3990.3

1,003.81,064.01,137.0

1,151.8

Surplusor

deficit(-)

0.7-26-2.8

-2.9-4.9205

-54.6476

-47.6-15.9

4.011.8

.6

-3.16.1

-1.5-6.5-1.2

-3.03.93.4

-2.8-12.8

.3-3.3

7 i-4.8-5.9

1 4-3.7-8.6

-25.23.2

-2.8-23.0-23.4-14.9-6.1

-53.2-73.7

-14.7-53.6-59.2-40.2

-73.8-78.9

-127.9-207.8-185.3

-212.3-221.2-149.7-155.1-161.5

-92.5

On-budget

Re-ceipts

5.8

6.08.0

13.722.942.5

43.838.137.139.937.7

37.348.562.665.565.1

60.468.273.271.671.0

81.982.387.492.496.2

100.1111.7124.4128.1157.9

159.3151.3167.4184.7209.3

216.6231.7

63.2278.7314.2365.3

403.9469.1474.3453.2500.4

547.9568.9640.7667.5708.7

770.4

Outlays

9.2

9.513.635.178.591.2

92.655.034.229.438.4

42.044.266.073.867.9

64.565.770.674.983.1

81.386.093.396.4

102.8

101.7114.8137.0155.8158.4

168.0177.3193.8200.1217.3

271.9302.2

76.6328.5369.1403.5

476.6543.0594.3661.2686.0

769.5806.8810.0861.4926.2

931.7

Surplusor

deficit(-)

-3.4

-3.5-5.621 3

-55.6-48.7

-48.7-17.0

2.910.5-.7

-4.74.3

-3.483

-2.8

-4.12.52.6

-3.3-12.1

.5-3.8

59-4.0-6.5

16-3.1

-12.6-27.7

-.5

-8.7-26.1-26.4-15.4-8.0

-55.3-70.5

-13.3-49.7-54.9-38.2

-72.7-73.9

-120.0-208.0-185.6

-221.6-237.9-169.3-193.9-217.5

-161.3

Off-budget

Re-ceipts

0.5

.6

.7

.91.11.3

1.31.21.51.61.7

2.13.13.64.14.6

5.16.46.88.08.3

10.612.112.314.216.4

16.719.124.424.929.0

33.535.839.946.153.9

62.566.4

18.076.885.498.0

113.2130.2143.5147.3166.1

186.2200.2213.4241.5266.9

288.9

Outlays

0.0

.0

.0

.1

.1

.1

.1

.2

.3

.4

.4

.51.31.72.32.9

4.05.06.07.59.0

10.911.713.515.015.7

16.519.720.422.325.2

27.632.836.945.652.1

60.469.6

19.480.789.7

100.0

114.3135.2151.4147.1165.8

176.8183.5193.8202.7210.9

220.1

Surplusor

deficit(-)

0.5

.6

.7

.81.01.2

1.21.01.21.21.3

1.61.81.91.81.7

1.11.5.8

->

-.2.4

-1.3-.8

.6

.2-.64.02.63.7

5.93.03.1

L8

2.0-3.2

-1.4-3.9-4.3-2.0

-1.1-5.0-7.9

.2

.3

9.416.719.638.856.0

68.8

Gross Federal debt(end of period)

Total

1 1691 225

48.2

50.757.579.2

142.6204.1

260.1271.0257.1252.0252.6

256.9255.3259.1266.0270.8

274.4272.7272.3279.7287.5

290.5292.6302.9310.3316.1

322.3328.5340.4368.7365.8

380.9408.2435.9466.3483.9

541.9629.0

643.6706.4776.6828.9

908.5994.3

1,136.81,371.21,564.1

1,817.02,120.12,345.62,600.82,868.8

3,107.2

Held bythe

public

41.4

42.848.267.8

127.8184.8

235.2241.9224.3216.3214.3

219.0214.3214.8218.4224.5

226.6222.2219.3226.3234.7

236.8238.4248.0254.0256.8

260.8263.7266.6289.5278.1

283.2303.0322.4340.9343.7

394.7477.4

495.5549.1607.1639.8

709.3784.8919.2

1,131.01,300.0

1,499.41,736.21,888.12,050.22,193.8

2,285.0

Adden-dum:Gross

nationalproduct

88.4

95.8113.0142.2175.8202.0

212.4212.9223.6247.8263.9

266.8315.0342.4365.6369.5

386.4418.1440.5450.2481.5

506.7518.2557.7587.8629.2

672.6739.0794.6849.4929.5

990.21,055.91,153.11,281.41,416.5

1,522.51,698.2

448.71,933.02,171.82,447.8

2,670.62,986.43,139.13,321.93,687.7

3,952.44,186.84,433.84,780.05,119.7

5,475.7

1 Not strictly comparable with later data.2 Estimates.

Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis-, beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.

Refunds of receipts are excluded from receipts and outlays.See "Budget of the United States Government, Fiscal Year 1990" for additional information.

Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management andBudget.


TABLE B-77.—Federal receipts, outlays, and debt, fiscal years 1980-90

[Millions of dollars; fiscal years]

Description

RECEIPTS AND OUTLAYS:

Total receiptsTotal outlays

Total surplus or deficit (-)

On-budget receiptsOn-budget outlays

On-budget surplus or deficit ( — )...

Off-budget receiptsOff-budget outlays

Off-budget surplus or deficit ( — )

OUTSTANDING DEBT, END OF PERIOD:

Gross Federal debt

Held by Government agenciesHeld by the public

Federal Reserve SystemOther

RECEIPTS- ON-BUDGET AND OFF-BUDGET .

Individual income taxesCorporation income taxesSocial insurance taxes and contributions

On-budgetOff-budget

Excise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:

Deposits of earnings by Federal ReserveSystem

All other

OUTLAYS- ON-BUDGET AND OFF-BUDGET

National defenseInternational affairsGeneral science, space, and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional developmentEducation, training, employment, and social serv-

icesHealthMedicareIncome securitySocial security

On-budgetOff-budget

Veterans benefits and servicesAdministration of justiceGeneral governmentCentral Federal credit activitiesNet interest

On-budgetOff-budget

AllowancesUndistributed offsetting receipts

On-budgetOff -budget

Actual

1980

517,112590,920

-73,808

403,903476,591

-72,689

113,209114,329

-1,120

908,503

199,212709,291

120,846588,445

517,112

244,06964,600

157,803

44,594113,209

24,3296,3897,174

11,767981

590,920

133,99512,7145,832

10,15613,8588,8399,390

21,32911,252

31,84323,16932,09086,540

118,547

675117,872

21,1854,582

13,030

52,512

54,851-2,339

-19,942

-18,738-1,204

1981

599,272678,209

-78,936

469,097543,013

-73,916

130,176135,196

-5,020

994,298

209,507784,791

124,466660,325

599,272

285,91761,137

182,720

52,545130,176

40,8396,7878,083

12,834956

678,209

157,51313,1046,469

15,16613,56811,3238,206

23,37910,568

33,70926,86639,14999,723

139,584

670138,914

22,9914,762

11,436

68,734

71,0222288

-28,041

-26,611-1,430

1982

617,766745,706

-127,940

474,299594,302

-120.003

143,467151,404

-7,937

1,136,798

217,560919,238

134,497784,741

617,766

297,74449,207

201,498

58,031143,467

36,3117,9918,854

15,186975

745,706

185,30912,3007,200

13,52712,99815,9446,256

20,6258,347

27,02927,44546,567

107,717155,964

844155,120

23,9584,703

10,922

84,995

87,0652071

-26,099

-24,453-1,646

1983

600,562808,327

-207,764

453,242661,219

-207,977

147,320147,108

212

1,371,164

240,1141,131,049

155,527975,522

600,562

288,93837,022

208,994

61,674147,320

35.3006,0538,655

14,4921,108

808,327

209,90311,8487,9359,353

12,67222,901

6,68121,334

7,560

26,60628,64152,588

122,598170,724

19,993150,731

24,8465,099

11,241

89,774

91,619-1,845

-33,976

-32,198-1,778

1984

666,457851,781

-185,324

500,382685,968

-185,586

166,075165,813

262

1,564,110

264,1591,299,951

155,1221,144,829

666,457

298,41556,893

239,376

73.301166,075

37,3616,010

11,370

15,6841,347

851,781

227.41315,8768,3177,086

12,59313,6136,917

23,6697,673

27,57930,41757,540

112,668178,223

7,056171,167

25,6145,660

11,821

111,058

114,3683310

-31,957

-29,913-2,044

1985

734,057946,316

-212,260

547,886769,509

-221,623

186,171176,807

9,363

1,816,974

317,6121,499,362

169,8061,329,556

734,057

334,53161,33!

265,163

78,992186,171

35.9926|422

12,079

17,0591,480

946,316

252,74816,1768,6275,685

13,35725,5654,229

25,8387,680

29,34233,54265,822

128,200188,623

5,189183,434

26,2926,277

11,582

129,430

133,548-4,118

32698

30189-2,509



TABLE B-77.—Federal receipts, outlays, and debt, fiscal years 1980-90—Continued

[Millions of dollars; fiscal years]

RECEIPTS AND OUTLAYS:

Total receiptsTotal outlays

Total surplus or deficit ( — )

On-budget receiptsOn-budget outlays

On-budget surplus or deficit ( — )

Off-budget receiptsOff-budget outlays

Off-budget surplus or deficit ( — )

OUTSTANDING DEBT, END OF PERIOD:

Gross Federal debt

Held by Government agenciesHeld by the public

Federal Reserve SystemOther

RECEIPTS- ON-BUDGET AND OFF-BUDGET

Individual income taxesCorporation income taxesSocial insurance taxes and contributions

On-budgetOff-budget

Excise taxesEstate and gift taxesCustoms dutiesMiscellaneous receipts:

Deposits of earnings by Federal Reserve SystemAll other

OUTLAYS- ON-BUDGET AND OFF-BUDGET

National defenseInternational affairsGeneral science space and technologyEnergyNatural resources and environmentAgricultureCommerce and housing creditTransportationCommunity and regional developmentEducation, training, employment, and social servicesHealthMedicareIncome securitySocial security

On-budgetOff-budget

Veterans benefits and servicesAdministration of justiceGeneral governmentCentral Federal credit activitiesNet interest

On-budgetOff-budget

AllowancesUndistributed offsetting receipts

On-budgetOff -budget

Actual

1986

769,091990,258

-221,167

568,862806,760

-237,898

200,228183,498

16,731

2,120,082

383,9191,736,163

190,8551,545,308

769,091

348,95963,143

283,901

83,673200,228

32,9196,958

13,327

18,3741,510

990,258

273,37514,1528,9764,735

13,63931,4494,890

28,1177,233

30,58535,93670,164

119,796198,757

8,072190,684

26,3566,603

12,533

135,969

140,298-4,329

-33,007

-30,150-2,857

1987

854,1431,003,830

-149,687

640,741809,998

-169,257

213,402193,832

19,570

2,345,578

457,4441,888,134

212,0401,676,094

854,143

392,55783,926

303,318

89,916213,402

32,4577,493

15,085

16,8172,490

1,003,830

281,99911,6499,2164,115

13,36326,6066,182

26,2225,051

29,72439,96875,120

123,250207,353

4,930202,422

26,7827,5487,569

138,570

143,860-5,290

-36,455

-33,155-3,300

1988

908,9541,064,044

-155,090

667,463861,352

-193,890

241,491202,691

38,800

2,600,753

550,5572,050,196

229,2181,820,977

908,954

401,18194,508

334,335

92,845241,491

35,2277,594

16,198

17,1632,747

1,064,044

290,36110,47110,8412,297

14,60617,21018,80827,272

5,29431,93844,49078,878

129,332219,341

4,852214,489

29,4289,2239,474

151,748

159,164-7,416

-36,967

-32,585-4,382

Estimates

1989

975,5341,137,030

-161,496

708,662926,169

-217,507

266,872210,861

56,011

2,868,792

674,9742,193,818

975,534

425,193106,997363,871

96,999266,872

33,9777,850

16,281

17,9503,415

1,137,030

298,25510,74812,5934,137

16,48720,90320,04028,0276,303

36,35149,76186,734

136,947232,334

5,414226,920

29,2189,4289,990

165,704

176,914-11,210

-36,931

-32,082-4,849

1990

1,059,3391,151,848

-92,509

770,446931,730

-161,284

288,893220,118

68,775

3,107,207

822,1942,285,014

1,059,339

466,711117,413391,509

102,616288,893

35,2708,084

17,988

18,6193,746

1,151,848

302,99117,32214,8632,277

14,43415,8928,262

28,2876,365

39,53152,17794,918

136,788246,724

6,167240,557

29,87210,5989,993

-7,156170,109

184,997-14,888

-360-42,042

-36,491-5,551

Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscalperiod known as the transition quarter.

Refunds of receipts are excluded from receipts and outlays.

See "Budget of the United States Government, Fiscal Year 1989" for additional information.

Sources: Department of the Treasury and Office of Management and Budget.


TABLE B-78.—Relation of Federal Government receipts and expenditures in the national income and

product accounts to the budget, fiscal years 1988-90

[Billions of dollars; fiscal years]

Receipts and expenditures

RECEIPTSTotal on-budget and off-budget receipts

Government contributions for employee retirement (grossing)

Timing adjustmentsGeographic exclusions

Federal sector, national income and product accounts, receipts

EXPENDITURESTotal on-budget and off-budget outlays

Lending and financial transactionsGovernment contributions for employee retirement (grossing)Other netting and grossingDefense timing adjustmentBonuses on Outer Continental Shelf land leasesGeographic exclusions

Federal sector national income and product accounts expenditures

1988

909.0

38.816.42.3

-1.7

964.8

1,064.0

-15.238.816.47.01.3

-5.7-.3

1,106.3

Estimate

1989

975.5

40.519.444

-1.7

1,029.3

1,137.0

-18.340.519.4

~'.8-6.0

1.1

1,174.2

1990

1,059.3

42.426.76.9

-1.9

1,133.4

1,151.8

-4.842.426.7

-1.12.0

-6.12.1

1,213.0

Note.-See Note, Table B-76.See Special Analysis B, "Special Analyses, Budget of the United States Government, Fiscal Year 1990" for description of these

categories.Sources: Department of Commerce (Bureau of Economic Analysis), Department of the Treasury, and Office of Management and

Budget.


TABLE B-79.—Federal and State and local government receipts and expenditures, national income andproduct accounts, 1929-88


Yearor

quarter

1929193319391940194119421943194419451946194719481949195019511952. . . ..1953195419551956195719581959I9601961196219631964196519661967.19681969197019711972197319741975197619771978.1979198019811982198319841985198619871982: IV1983: IV1984- IV1985: IV1986- 1

IIIl lIV

1987:1. .||IIIIV

1988: 1II ... .Ill

Total government

Receipts

11.39.4

15.417.825.032.749.251.253.452.657.859.656.669.485.690.595.090.4

101.6110.2116.7115.7130.3140.4145.9157.9169.8175.6190.2214.4230.8266.2300.1306.8327.3374.0419.6463.1480.0549.1616.6694.4779.8855.1977.2

1,000.81,061.31,172.91,270.81,344.61,469.5.1,008.41,095.31,200.81,299.91,314.21,322.81,353.91,387.31,407.01,473.81,487.31,510.01,525.41,570.91,572.0

Expendi-tures

10.310.717.618.528.864.193.4

103.192.947.243.451.160.061.479.594.3

102.097.598.5

105.0115.8128.3131.9137.3150.1161.6169.1177.8189.6215.6245.0272.2290.2317.4346.8377.3411.7467.4544.9587.5635.7694.8768.3889.6

1,006.91,111.61,189.91,277.91,402.61,489.01,574.41,175.31,208.21,322.91,445.81,445.61,497.21,497.41,515.81,547.61,556.41,572.81,620.71,624.61,648.01,639.5

Surplus ordeficit

nationalincome

andproduct

accounts

1.0-1.4-2.2-.7

-3.8-31.4-44.2-51.8-39.5

5.414.48.4

-3.48.06.1

-3.8-7.0-7.1

3.15.2

.9-12.6

163.1

-4.3-3.8

-2.3.5

-1.3-14.2-6.0

9.9-10.6-19.5-3.4

7.9-4.3

-64.9-38.4-19.1

-.411.5

-34.5-29.7

-110.8-128.6-105.0-131.8-144.4-104.9-166.8

1129-122.1-145.9-131.4-174.3-143.5-128.5-140.6-82.6-85.5

-110.7-99.2-77.1-67.5

Federal Government

Receipts

3.82.76.88.7

15.523.039.341.142.740.744.143.939.450.464.667.770.464.273.178.582.579.390.696.999.0

107.2115.6116.2125.8143.5152.6176.9199.7195.4202.7232.2263.7293.9294.9340.1384.1441.4505.0553.8639.5635.3659.9726.0788.7828.3916.5633.1675.5742.7805.3806.7816.3833.6856.8871.3920.0930.1944.4951.0983.0975.5

Expendi-tures

2.74.09.0

10.020.556.185.995.684.737.230.835.542.041.258.171.477.670.368.672.580.289.691.793.9

102.9111.4115.3119.5125.3145.3165.8182.9191.3207.8224.8249.0269.3305.5364.2393.7430.1470.7521.1615.1703.3781.2835.9895.6985.6

1,033.91,074.2

835.7844.7930.2

1,017.51,005.31,050.71,039.71,040.11,059.61,064.01,068.41,104.91,106.11,116.31,099.0

Surplus ordeficit

JiLincome

andproductaccounts

1.2-1.3-2.2-1.3

5.1-33.1-46.6-54.5-42.1

3.513.48.3

-2.69.26.5

-3.7-7.1-6.0

4.46.12.3

-10.3-1.1

3.039

-4.2.3

-3.3

-i!s-13.2-6.0

8.4124

-22.0168

-5.6116694

-53.5-46.0-29.3-16.1

613-63.8

-145.9-176.0-169.6

1969-205.6-157.8-202.6-169.2-187.5-212.2

1986-234.4-206.1-183.3-188.3-144.0-138.3-160.4-155.1-133.3-123.5

State and local government

Receipts

7.67.29.6

10.010.410.610.911.111.613.015.417.719.521.323.425.427.429.031.735.038.542.046.650.054.158.663.469.875.585.294.1

107.9120.8135.8153.6179.3196.4213.1239.6270.1300.1330.3355.3390.0425.6449.4487.7540.5581.8623.0655.7459.8505.8554.5598.0613.1616.6629.6632.9637.5659.3659.1666.9685.5698.4708.0

Expendi-tures

7.87.29.69.39.18.88.48.59.0

11.114.417.620.222.523.925.527.330.232.935.939.844.447.049.954.558.262.968.875.584.795.2

107.8119.3134.0151.0165.8182.9205.9235.2254.9273.2301.3327.7363.2391.4414.3440.2475.9516.7561.9602.8424.1449.5489.1531.8545.9556.5566.9578.1589.9597.9606.2617.2629.7642.1652.0

Surplus ordeficit

nationalincome

andproduct

accounts

-0.2

~'.o.6

1.31.82.42.72.61.91.0.1

-1.2

-.0

-ill1.3

-.91.4

-2.4.4.1.4.5.5

1.0.0

-l.'l

L51.82.6

13.513.57.24.5

15.226.928.927.626.834.135.147.564.665.161.252.935.856.465.466.367.260.162.754.847.761.452.949.755.856.256.0

Note—Federal grants-in-aid to State and local governments are reflected in Federal expenditures and State and local receipts. Totalgovernment receipts and expenditures have been adjusted to eliminate this duplication.



TABLE B-80.—Federal and State and local government receipts and expenditures, national income and

product accounts, by major type, 1929-88


Year or quarter

192919331939194019411942194319441945 . ...19461947194819491950195119521953195419551956195719581959196019611962196319641965 .. .196619671968196919701971 . .19721973197419751976197719781979198019811982198319841985198619871982- IV . ..1983- IV1984- IV1985: IV1986: 1

||IllIV

1987:1IIIllIV

1988- 1IIIll

Receipts

Total

11.39.4

15.417.825.032.749.251.253.452.657.859.656.669.485.690.595.090.4

101.6110.2116.7115.7130.3140.4145.9157.9169.8175.6190.2214.4230.8266.2300.1306.8327.3374.0419.6463.1480.0549.1616.6694.4779.8855.1977.2

1,000.81,061.31,172.91,270.81,344.61,469.51,008.41,095.31,200.81,299.91,314.21,322.81,353.91,387.31,407.01,473.81,487.31,510.01,525.41,570.91,572.0

Per-sonaltaxand

nontaxre-

ceipts

2.61.42.42.63.35.9

17.818.920.818.721.421.018.520.628.934.035.532.535.439.742.442.246.150.552.257.060.558.865.274.982.497.7

116.3116.2117.3142.0152.0171.8170.6198.7228.1261.1304.7340.5393.3409.3410.5440.2486.6511.4570.3411.1413.9459.7499.6495,6501.0514.2534.9532.2582.0576.2591.0575.8601.0586.5

Corpo-rate

profitsax ac-cruals

1.4

L42.87.6

11.414.112.910.79.1

11.312.410.217.922.619.420.317.622.022.021.419.023.622.722.824.026.228.030.933.732.739.439.734.437.741.949.351.850.964.273.083.588.084.881.163.177.293.996.4

106.6133.859.888.187.099.899.2

104.9107.9114.3126.3132.6140.0136.2136.9143.2144.8

In-directbusi-nesstaxandnon-taxac-

cruals

7.17.19.4

10.111.311.812.814.215.517.118.420.121.323.425.327.729.729.632.235.037.438.641.745.348.051.554.658.762.565.270.178.786.394.0

103.4111.1120.8129.0140.0151.7165.7178.1189.4213.3251.5258.8282.6313.9333.6348.4366.3264.5294.1322.7338.3347.2341.6352.7352.3356.9363.8370.3374.2379.4385.8392.3

Contri-butions

forsocialinsur-ance

0.3.3

2.22.42.83.54.65.26.37.76.76.06.67.48.89.39.6

10.612.013.515.515.918.821.922.925.428.530.131.640.645.550.457.962.268.979.097.6

110.5118.5134.5149.8171.7197.8216.5251.2269.6291.0324.9354.1378.1399.1273.0299.2331.5362.1372.3375.3379.1385.9391.5395.4400.9408.6433.3440.9448.4

Expenditures

Total »

10.310.717.618.528.864.193.4

103.192.947.243.451.160.061.479.594.3

102.097.598.5

105.0115.8128.3131.9137.3150.1161.6169.1177.8189.6215.6245.0272.2290.2317.4346.8377.3411.7467.4544.9587.5635.7694.8768.3889.6

1,006.91,111.61,189.91,277.91,402.61,489.01,574.41,175.31,208.21,322.91,445.81,445.61,497.21,497.41,515.81,547.61,556.41,572.81,620.71,624.61,648.01,639.5

Pur-chases

ofgoodsandserv-ices

8.98.3

13.614.225.059.988.997.183.029.126.432.639.038.860.475.882.876.075.379.787.395.497.9

100.6108.4118.2123.8130.0138.6158.6179.7197.7207.3218.2232.4250.0266.5299.1335.0356.9387.3425.2467.8530.3588.1641.7675.0735.9820.8871.2924.7671.8676.1764.5856.7847,8868.8881.8886.5903.8915.7932.2947.3945.2961.6955.3

Trans-fer

pay-ments

1.01.52.62.72.62.72.43.06.0

13.113.114.516.918.014.814.315.117.118.519.422.226.527.629.433.734.836.838.341.346.054.762.969.784.199.8

111.3127.0150.9189.6207.2221.6239.5268.0319.2362.2404.0435.1448.7481.2510.0532.8429.7441.1458.5490.0496.7507.6516.7518.8522.2531.1533.9544.2558.2563.5570.0

Net interest paid

Total

0.71.01.11.21.21.41.92.43.24.14.24.24.34.44.54.54.64.74.75.25.65.46.36.96.46.97.47.98.18.58.9

10.311.512.412.512.915.216.518.823.225.128.230.836.352.260.168.187.297.7

100.7105.4

61.474.296.198.8

100.9101.599.3

100.9102.5102.5105.7110.8110.4111.7113.7

Inter-estpaid

10.19.9

10.811.612.513.214.515.718.119.822.323.124.829.633.637.743.647.956.568.283.2

109,1128.3145.1173.5194.2205.8215.8133.2154.7185.3199.5204.0205.6206.8207.0210.1212.1217.1223.9229.4230.1234.1

Less:Inter-

est re-ceived

bygovern-ment 2

3.33.53.94.24.65.16.06.87.78.39.9

10.611.914.317.118.920.422.828.337.546.956.968.177.186.396.5

105.2110.471.880.589.2

100.7103.1104.1107.4106.1107.5109.5111.4113.1119.0118.4120.4

Less:Divi-

dendsre-

ceivedby

govern-ment2

61.2.2.3

'.5.9.9.9

1.31.72.01.92.32.92.83.54.55.56.93.12.94.04.95.15.25.56.16.46.77.27.57.88.18.4

Subsi-dieslesscur-rentsur-

plus ofjovern-mententer-prises

-0.2.0.4.4.1.1.1.6.7.9

-.2_ j-'.3

.1-.1

3-.5

3.0

'.11.1.1.4

1.71.81.11.71.62.51.61.41.92.92.63.73.51.22.41.03.03.93.55.76.78.7

14.19.97.2

12.618.315.419.68.45.35.1

24.55.0

15.825.513.88.3

25.618.619.28.8

Surplusor

deficit(-),

na-tional

incomeand

prod-uct ac-counts

1.0-1.4-2.2-.7

-3.8-31.4-44.2

518-39.5

5.414.48.4

-3.48.06.1

-3.8-7.0-7.1

3.15.2

.9-12.6-1.6

3.1-4.3-3.8

-2.3

-L3-14.2

609.9

-10.6-19.5-3.4

7.9-4.3

-64.9-38.4-19.1

-.411.5

-34.5-29.7

-110.8-128.6-105.0-131.8-144.4

1049-166.8-112.9-122.1-145.9-131.4-174.3-143.5-128.5-140.6-82.6-85.5

-110.7-99.2-77.1-67.5

Adden-dum:

Grants-in-aid

toStateandlocal

govern-ments

0.1.5

1.0.9.8.9.9.9.9

1.11.72.02.22.32.52.62.82.93.13.34.25.66.86.57.28.09.1

10.411.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.699.7

106.8102.784.586.096.3

103.5105.6110.0109.2102.3101.9105.5101.9101.4111.1110.4111.5

1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Prior to 1968, dividends received is included in interest received.Source-. Department of Commerce, Bureau of Economic Analysis.


TABLE B-81.—Federal Government receipts and expenditures, national income and product accounts,

1967-90


Year orquarter

Fiscal: 219671968196919701971197219731974197519761977197819791980198119821983198419851986198719881989 3

1990 3

Calendar:1967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV ...1983: IV ...1984: IV...1985: IV ...1986: 1

II ....I I I . .IV..

1987: 1II...I I I . .IV..

1988: 1II...I I I . .

Receipts

Total

148.1162.1192.5198.0196.2217.9245.3277.2290.5322.6374.7424.3491.2538.6623.8643.3645.7711.9776.8815.0901.7964.8

1,029.31,133.4

152.6176.9199.7195.4202.7232.2263.7293.9294.9340.1384.1441.4505.0553.8639.5635.3659.9726.0788.7828.3916.5633.1675.5742.7805.3806.7816.3833.6856.8871.3920.0930.1944.4951.0983.0975.5

Personaltax andnontaxreceipts

64.471.490.294.087.9

100.5107.5122.7127.5137.1165.9186.5222.9250.7289.6310.0292.5302.5340.4357.0401.6413.1436.8470.5

67.579.795.192.690.3

108.2114.7131.3125.9147.3169.8194.9231.0257.9298.9304.5294.5310.3346.4361.5405.6303.0291.9326.0355.3350.0354.0363.5378.3373.8413.1413.3422.3404.6425.0408.3

Corpo-rate

profitstax

accruals

30.333.136.832.931.934.240.943.442.152.159.067.875.770.269.452.155.775.374.680.7

101.7109.9118.5140.7

30.036.136.130.633.536.643.345.143.654.661.671.474.470.365.749.061.375.276.383.9

105.846.470.269.778.878.782.684.789.7

100.1105.0110.5107.7107.2111.7113.1

Indirectbusinesstax andnontax

accruals

15.717.018.619.120.019.820.621.322.124.224.527.129.035.353.450.050.254.955.951.253.257.057.565.7

16.217.918.919.220.319.921.121.623.823.325.028.029.338.856.248.151.655.755.150.854.047.653.656.253.550.649.652.051.053.054.353.955.055.955.957.1

.Contri-butions

forsocialinsur-ance

37.740.646.952.056.563.476.389.898.8

109.1125.4142.9163.6182.3211.4231.1247.3279.2305.8326.0345.2384.8416.5456.5

38.943.249.652.958.767.584.695.9

101.6115.0127.7147.0170.3186.8218.8233.7252.5284.7310.9332.2351.0236.1259.8290.7317.7327.5330.1333.4337.83445347.'7352.4359.4383.4390.3397.0

Expenditures

Total1

156.7174.4187.3198.7216.8237.1260.4283.9335.7378.9419.6459.9506.4589.0682.4755.9832.4873.0962.3

1,027.81,058.91,106.31,174.21,213.0

165.8182.9191.3207.8224.8249.0269.3305.5364.2393.7430.1470.7521.1615.1703.3781.2835.9895.6985.6

1,033.91,074.2

835.7844.7930.2

1,017.51,005.31,050.71,039.71,040.11,059.61,064.01,068.41,104.91,106.11,116.31,099.0

Purchases ofgoods andservices

Total

87.697.0

100.399.898.3

104.4105.3109.3123.9132.2146.8158.6173.1199.9231.8264.4287.4297.2341.5368.4375.4378.3398.4413.0

92.7100.1100.098.899.8

105.8106.4116.2129.2136.3151.1161.8178.0208.1242.2272.7283.5310.5355.2366.2382.0293.2276.1326.0376.6356.6368.7372.7366.7372.7377.5386.3391.4377.7382.2367.7

Nationaldefense

68.877.078.578.275.776.277.178.886.391.599.2

106.3117.7137.2160.7187.3210.4228.5252.7275.3290.1296.9298.3304.8

73.479.178.976.874.177.477.582.689.693.4

100.9108.9121.9142.7167.5193.8214.4234.3259.1277.5295.3205.4221.5244.1268.6266.8277.2288.0278.1287.3294.8299.8299.2298.4298.8294.3

Transferpayments

Toper-sons

37.242.948.955.368.176.587.6

102.3131.9154.3167.1179.3198.5235.4274.6305.6339.8342.3360.6380.4399.4421.3450.1474.5

40.246.250.861.673.080.993.7

115.0146.8159.3170.1182.4205.6247.0282.1316.3340.1344.2366.7385.9402.0337.9340.3346.6370.3379.6383.5389.6390.9396.0402.2403.5406.1422.9426.5428.3

To for-eign-ers

2.32.22.32.22.53.02,83.23.73.74.14.45.15.86.77.27.79.9

13.414.311.712.913.313.5

2.42.32.22.32.72.92.93.64.04.44.24.75.26.56.57.88.5

10.713.413.912.29.5

12.215.515.510.415.115.814.510.611.210.716.411.511.012.5

Srants-in-aid

toStateandlocalgov-ern-

ments

14.817.819.222.626.832.640.441.648.457.566.374.779.186.790.183.485.790.797.8

107.4103.1108.5116.9117.5

15.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.699.7

106.8102.784.586.096.3

103.5105.6110.0109.2102.3101.9105.5101.9101.4111.1110.4111.5

Netinter-estpaid

9.610.412.013.514.114.015.719.621.725.128.533.540.750.866.782.290.6

109.7128.3134.4139.7150.4165.9171.1

9.811.312.714.113.814.418.020.723.026.829.135.242.553.372.484.694.3

115.6130.1135.4143.087.2

101.0125.3132.7135.0135.9134.3136.5139.0139.8143.8149.5149.9152.1154.9

Subsi-diesless

currentsurplus

ofgovern-

mententer-prises

5.24.14.75.57.06.59.17.75.96.26.99.79.9

10.412.513.020.923.320.722.929.634.829.623.4

4.74.55.26.56.37.97.85.66.95.88.29.59.2

11.512.316.022.921.220.325.732.423.429.121.019.018.037.518.129.139.427.822.639.733.034.024.1

Surplusor

deficit(-),

nationalincome

andproduct

accounts

-8.6-12.3

5.2_ 7-2o!s-19.2-15.2-6.8

-45.3-56.3-44.8-35.6-15.2-50.4-58.5

-112.6-186.7-161.0-185.5-212.8-157.2-141.5-144.9-79.6

-13.2-6.0

8.4-12.4-22.0-16.8-5.6

-11.6-69.4-53.5-46.0-29.3-16.1-61.3-63.8

-145.9-176.0-169.6-196.9-205.6-157.8-202.6-169.2-187.5-212.2-198.6-234.4-206.1-183.3-188.3-144.0-138.3-160.4-155.1-133.3-123.5

1 Includes an item for the difference between wage accruals and disbursements, not shown separately.2 Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal yearis on an October 1-September 30 basis. The 3-month period from July 1, 1976 through September 30, 1976 is a separate fiscal periodknown as the transition quarter.3 Estimates.

Sources: Department of Commerce (Bureau of Economic Analysis) and Office of Management and Budget.


TABLE B-82.—State and local government receipts and expenditures, national income and product accounts,

1946-88


Yearor

quarter

1946194719481949

19501951195219531954

19551956195719581959

1960 ,196119621963.1964

19651966196719681969

19701971....19721973197419751976197719781979

1980198119821983 .1984

198519861987

1982: IV ...1983: IV1984: IV1985- IV

1986:1III I IIV

1987: 1||IIIIV. ..

1988: 1IIIll

Receipts

Total

13.015.417.719.5

21.323.425.427.429.0

31.735.038.542,046.6

50.054.158.663.469.8

75.585.294.1

107.9120.8

135.8153.6179.3196.4213.1239.6270.1300.1330.3355.3

390.0425.6449.4487.7540.5

581.8623.0655.7

459.8505.8554.5598.0

613.1616.6629.6632.9

637.5659.3659.1666.9

685.5698.4708.0

Personaltax andnontax

receipts

1.51.72.12.4

2,52.83.03.23.5

3.94.55.05.46.2

6.87.58.49.0

10.2

11.313.215.018.021.1

23.627.033.837.340.544.751.558.366.273.782.694.5

104.9116.1129.8140.2150.0164.7

108.1122.0133.6144.3

145.6147.0150.7156.5

158.4168.9162.9168.6

171.3176.0178.2

Corpo-rate

profitstax

accruals

0.5.6.7.6

.8

.9

.8

.8

.8

1.01.01.01.01.2

1.21.31.51.71.8

2.02.22.63.33.6

3.74.35.36.06.7

7.39.6

11.412.113.614.515.414.015.918.7

20.222.727.9

13.417.917.321.0

20.522.423.224.6

26.227.629.428.5

29.731.531.7

Indirectbusinesstax andnontax

accruals

9.310.712.213.3

14.615.917.418.819.9

21.623.825.727.229.3

32.034.437.039.442.6

46.149.753.960.867.4

74.883.191.299.6

107.4116.2128.4140.7150.0160.1174.5195.3210.8231.0258.2

278.5297.6312.3

216.9240.5266.5284.8

296.6292.0300.7301.2

304.0309.5316.5319.2

323.5329.8335.3

Contribu-tions for

socialnsurance

0.6.7.8.9

1.11.41.61.72.0

2.12,32-j j2.83.1

3.43.73.94.24.7

5.05.76.77.28.3

9.210.211.513.014.616.819.522.124.727.429.732.535.838.540.2

43.246.048.1

36.939.440.744.4

44.845.245.748.2

47.047.748.449.2

49.950.651.4

Federalgrants-m-

aid

1.11.72.02.2

2.32.52.62.82.9

3.13.34.25.66.8

6.57.28.09.1

10.4

11.114.415.918.620.324.429.037.540.643.954.661.167.577.380.588.787.983.986.293.699.7

106.8102,7

84.586.096.3

103.5

105.6110.0109.2102.3

101.9105.5101.9101.4

111.1110.4111.5

Expenditures

Total *

11.114.417,620.2

22,523.925.527.330.2

32.935.939.844.447.0

49.954.558.262.968.8

75.584.795.2

107.8119.3

134.0151.0165.8182.9205.9

235.2254.9273.2301.3327.7

363.2391.4414.3440,2475.9

516.7561.9602.8

424.1449.5489.1531.8

545.9556.5566.9578.1

589.9597.9606.2617.2

629.7642.1652.0

Pur-chases

ofgoodsand

services

9.912.815.318.0

19.821.823.124.827.7

30.333.336.940.843.3

46.150.253.558.163.5

69.978.287.097.6

107.2

119.4132.5144.2160.1182.9205.9220.6236.2263.4289.9

322.2345.9369.0391.5425.3

465.6505.0542.8

378.7400.0438.5480.1

491.2500.2509.1519.7

531.1538.2546.0555.9

567.5579.4587.6

Trans-fer

pay-ments

toper-sons

1.72.33.03.0

3.63.13.53.63.8

4.04.24.65.15.6

5.96.57.07.58.2

8.810.112.114.516.7

20.124.027.530.432.338.943.647.452.457.265.773.679.986.593.7

101.1110.1118.7

82.388.796.4

104.2

106.7109.1111.3113.4

115.6117.7119.7121.7

123.8126.0129.3

Netinterest

paidlessdivi-

dendsreceived

0.2.1.1.1

.1

.0

.0

.0

.1

il.1.1

.1

.1

.2

.11

-.36

-.9-1.1-1.3

20-1.6-1.8-3350

-5,1-4.5-5.3-8.7138

-18.9-22.4-27.4-29.0

319370

-40.3446

-28.9-29.7-33.2

388

-39.1-39.7-40.4-41.8

-42.9-44.0-45.2-46.2

-47.3-48.4

496

Subsi-diesless

currentsurplus

ofgovern-

mententer-prises

-0.7-.8-.8-.9

-.9-1.0-1.1-1.2

13

-1.516

-1.7-1.7-2.0

-2.2-2.3-2.5-2.8-2.8

-3.0-3.0-3.1-3.2-3.3

-3.6-3.7-4.2

43-4.4-4.5-4.8-5.1-5.6-5.7

58-5.6-7.3-8.8

-11.3

131-13.1-14.0

-8.0-9.4

-12.6-13.7

-12.9-13.0-13.1-13.3

-13.9-13.9-14.3-14.1

-14.4-14.7-15.3

Surplusor

deficit

nationalincome

andproduct

accounts

1.91.0.1

— .7

-1.24.0.1

-1.1

13-.9

-1.4-2.4-.4

.1-.4

.5

LO.0

-L1L5

1.82.6

13.513.57.24.5

15.226.928.927.6

26.834.135.147.564.665.161.252.9

35.856.465.466.3

67.260.162.754.8

47.761.452.949.7

55.856.256.0

1 Includes an item for the difference between wage accruals and disbursements, not shown separately.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-83.—State and local government revenues and expenditures, selected fiscal years, 1927-87

[Millions of dollars]

Fiscal year J

1927

1932193419361938

19401942194419461948

1950195219531954

19551956195719581959

1960196119621963

1962-631963-641964-651965-661966-671967-681968-691969-70

1970-711971-721972-731973-741974-751975-761976-771977-781978-791979-801980-811981-821982-831983-841984-851985-861986-87

General revenues by source2

Total

7,271

7,2677,6788,3959,228

9,60910,41810,90812,35617,250

20,91125,18127,30729,012

31,07334,6673816441,21945,306

50,50554,03758,25262,890

62,26968,44374,000

83,03691,197101,264114,550130,756

144,927167,541190,214207,670228,171256,176285,157315,960343,278382,322423,404457,654486,753542,730598,121641,457686,164

Propertytaxes

4,730

4,4874,0764,0934,440

4,4304,5374,6044,9866,126

7,3498,6529,3759,967

10,73511,7491286414,04714,983

16,40518,00219,05420,089

19,83321,24122,58324,67026,04727,74730,67334,054

37,85242,87745,28347,70551,49157,00162,52766,42264,94468,49974,96982,06789,10596,457103,757

111,710121,227

Salesandgross

receiptstaxes

470

7521,0081,4841,794

1,9822,3512,2892,9864,442

5,1546,3576,9277,276

7,6438,69194679,82910,437

11,84912,46313,49414,456

14,44615,76217,118

19,08520,53022,91126,51930,322

33,23337,51842,04746,09849,81554,54760,64167,59674,24779,927

85,97193,613100,247114,097126,376135,001144,293

Indi-vidualincomeaxes

70

7480153218

224276342422543

788998

1,0651,127

1,2371,53817541,7591,994

2,4632,6133,0373,2693,2673,7914,090

4,7605,8257,3088,90810,812

11,90015,22717,99419,49121,45424,57529,24633,17636,93242,080

46,42650,73855,12964,52970,36174,35483,681

Corpo-rationnet

incometaxes

92

7949113165

156272451447592

593846817778

744890984

1,0181,001

1,1801,2661,3081,505

1,5051,6951,929

2,0382,2272,5183,1803,7383,4244,4165,4256,0156,6427,2739,17410,73812,12813,321

14,14315,02814,25817,14119,15219,98222,672

Revenuefrom

FederalGovern-ment

116

2321,016948800

945858954855

1,861

2,4862,5662,8702,966

3,1313,33538434,8656,377

6,9747,1317,8718,722

8,66310,00211,02913,21415,37017,18119,15321,857

26,14631,34239,25641,82047,03455,58962,44469,59275,16483,02990,29487,28290,00796,935106,158113,099114,996

Allother3

1,793

1,6431,4491,6041,811

1,8722,1232,2692,6613,685

4,5415,7636,2526,897

7,5848,46592529,69910,516

11,63412,56313,48914,850

14,55615,95117,250

19,26921,19723,59826,11829,971

32,37436,16240,21046,54151,73557,19161,12468,43679,86495,466

111,599128,926138,008153,570172,317

187,312199,296

General expenditures by function2

Total

7,210

7,7657,1817,6448,757

9,2299,1908,86311,02817,684

22,78726,09827,91030,701

33,72436,7114037544,85148,887

51,87656,20160,20664,816

63,97769,30274,67882,84393,350102,411116,728131,332

150,674168,549181,357198,959230,721256,731274,215296,983327,517369,086407,449436,896466,516505,008553,899605,594656,064

Educa-tion

2,235

2,3111,8312,1772,491

2,6382,5862,7933,3565,379

7,1778,3189,39010,557

11,90713,2201413415,91917,283

18,71920,57422,21623,776

23,72926,28628,56333,28737,91941,15847,23852,718

59,41365,81469,71475,83387,85897,216102,780110,758119,448133,211145,784154,282163,876176,108192,686210,819226,658

High-ways

1,809

1,7411,5091,4251,650

1,5731,4901,2001,6723,036

3,8034,6504,9875,527

6,4526,95378168,5679,592

9,4289,84410,35711,136

11,15011,66412,221

12,77013,93214,48115,41716,427

18,09519,02118,61519,94622,52823,90723,05824,60928,44033,311

34,60334,52036,65539,41944,98949,36852,199

Publicwelfare

151

444889827

1,069

1,1561,2251,1331,4092,099

2,9402,7882,9143,060

3,1683,13934853,8184,136

4,4044,7205,0845,481

5,4205,7666,3156,7578,2189,85712,11014,679

18,22621,11723,58225,08528,15532,60435,90639,14041,89847,28854,12157,99660,90666,41471,47975,86882,520

Allother4

3,015

3,2692,9523,2153,547

3,8623,8893,7374,5917,170

8,86710,34210,61911,557

12,19713,3991494016,54717,876

19,32521,06322,54924,423

23,67825,58627,579

30,02933,28136,91541,96347,508

54,94062,59769,44678,09692,180103,004112,472122,476137,731155,277172,941190,098205,079223,068244,745269,540294,687

1 Fiscal years not the same for all governments. See Note.2 Excludes revenues or expenditures of publicly owned utilities and liquor stores, and of insurance-trust activities. Intergovernmental

receipts and payments between State and local governments are also excluded.3 Includes other taxes and charges and miscellaneous revenues.4 Includes expenditures for libraries, hospitals, health, employment security administration, veterans' services, air transportation,

water transport and terminals, parking facilities, and transit subsidies, police protection, fire protection, correction, protective inspectionand regulation, sewerage, natural resources, parks and recreation, housing and community development, sanitation other than sewerage,financial administration, judicial and legal, general public buildings, other governmental administration, interest on general debt, andgeneral expenditures, n.e.c.

Note.—Data for fiscal years listed from 1962-63 to 1986-87 are the aggregations of data for government fiscal years which endedin the 12-month period from July 1 to June 30 of those years. Data for 1963 and earlier years include data for government fiscal yearsending during that particular calendar year.

Data are not available for intervening years.


405

223-795 O - 1989 - 14 QL 3Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

TABLE B-84.—Interest-bearing public debt securities by kind of obligation, 1967-88


End of yearor month

Fiscal year:196719681969

19701971197219731974

19751976197719781979

19801981198219831984

1985198619871988

1987- JanFebMar

MayJune

JulvAug :::::::::::::::SeptOctNovDec

1988: JanFebMar

May"".!'.! !!!!June

JulyAugSep8t

Total iinterest-bearingpublicdebt

securities

322,286344,401351,729

369,026396,289425,360456,353473,238

532,122619,254697,629766,971819,007

906,402996,495

1,140,8831,375,7511,559,570

1,821,0102,122,6842,347,7502,599,877

2,208,9742,228,4082,244,0232,265,5592,274,3412,306,705

2,304,4942,341,6592,347,7502,372,0892,407,0802,428,935

2,435,1342,469,2352,484,9082,488,2312,517,1352,544,998

2,539,4032,573,3202,599,877

Marketable

Total *

* 210,672226,592226,107

232,599245,473257,202262,971266,575

315,606392,581443,508485,155506,693

594,506683,209824,422

1,024,0001,176,556

1,360,1791 1,564,3291,675,9801,802,905

1,612,6821,622,8141,635,7161,639,1561,640,5971,658,996

1,651,6271,685,7071,675,9801,692,6011,716,0231,724,689

1,719,3101,746,1821,758,6701,744,7911,762,4571,769,927

1,761,7951,790,7121,802,905

Treasurybills

58,53564,44068,356

76,15486,67794,648100,061105,019

128,569161,198156,091160,936161,378

199,832223,388277,900340,733356,798

384,220410,730378,263398,451

423,333416,735406,194400,653395,105391,049

375,314390,561378,263390,304390,714389,497

390,031390,001392,647386,046383,142382,292

382,708393,392398,451

Treasurynotes

49,10871,07378,946

93,489104,807113,419117,840128,419

150,257191,758241,692267,865274,242

310,903363,643442,890557,525661,687

776,449896,884

1,005,1271,089,578

924,546931,790955,265964,265961,922984,385

992,7741,002,5351,005,1271,009,8701,027,9721,037,861

1,031,9661,050,0481,059,9101,052,6531,064,5301,072,706

1,064,1701,082,4221,089,578

Treasurybonds

97,41891,07978,805

62,95653,98949,13545,07133,137

36,77939,62645,72456,35571,073

83,77296,178103,631125,742158,070

199,510241,716277,590299,875

249,803259,289259,257259,238268,570268,561

268,539277,611277,590277,582282,493282,486

282,468291,288291,268291,247299,940299,929

299,916299,898299,875

Nonmarketable

Total

111,614117,808125,623

136,426150,816168,158193,382206,663

216,516226,673254,121281,816312,314

311,896313,286316,461351,751383,015

460,831558,355671,769796,972

596,292605,594608,307626,403633,744647,710

652,867655,952671,769679,488691,057704,246

715,824723,053726,238743,440754,678775,072

777,608782,607796,972

U.S.savingsbonds

51,21351,71251,711

51,28153,00355,92159,41861,921

65,48269,73375,41179,79880,440

72,72768,01767,27470,02472,832

77,01185,55197,004106,176

91,42192,21893,04293,82694,58895,232

95,89596,44897,00497,61098,48299,236

100,515101,528102,343103,421103,978104,515

105,141105,486106,176

Foreigngovern-mentand

publicseries 2

1,5143,7414,070

4,7559,27018,98528,52425,011

23,21621,50021,79921,68028,115

25,15820,49914,64111,4508,806

6,6384,1284,3506,320

4,4304,3844,9344,7735,0735,071

4,4264,4304,3503,9803,7933,976

3,9173,7166,1346,1355,6265,710

5,9077,5896,320

Govern-ment

accountseries

56,15559,52666,790

76,32382,78489,598101,738115,442

124,173130,557140,113153,271176,360

189,848201,052210,462234,684259,534

313,928365,872440,658536,455

389,424393,672391,415403,750409,890421,579

422,440426,711440,658447,904449,009461,261

472,625475,873474,450490,107500,706517,472

519,516522,220536,455

Other 3

2,7312,8283,051

4,0685,7593,6543,7014,289

3,6444,88316,79727,06727,400

24,16423,71824,08535,59341,843

63,255102,804129,758148,023

111,017115,320118,915124,054124,193125,828

130,105128,363129,758129,994139,773139,773

138,767141,936143,311143,778144,370147,374

147,044147,312148,023

1 Includes Federal Financing Bank securities, not shown separately, in millions of dollars: 15,000 in September 1986-September 1987;14,845 in October 1987-May 1988; and 15,000 in June-September 1988.

2 Nonmarketable certificates of indebtedness, notes, bonds, and bills in the Treasury foreign series of dollar-denominated and foreign-currency denominated issues.

3 Includes depository bonds, retirement plan bonds, Rural Electrification Administration bonds, State and local bonds, and specialissues held only by U.S. Government agencies and trust funds and the Federal home loan banks.4 Includes $5,610 million in certificates not shown separately.

Note.—Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscalyear is on an October 1-September 30 basis.

Source: Department of the Treasury.

406


TABLE B-85.—Maturity distribution and average length of marketable interest-bearing public debt securitiesheld by private investors, 1967-88

End of year or month

Fiscal year:196719681969

19701971197219731974

19751976197719781979

1980 ..19811982 .. .19831984

1985198619871988


JulyAugSept .. .OctNovDec


JulyAugSept

Amountout-

standing,privately

held

Maturity class

Withinlyear

Ito5years

5 to 10years

10 to 20years

20 yearsand over

Millions of dollars

150,321159,671156,008

157,910161,863165,978167,869164,862

210,382279,782326,674356,501380,530

463,717549,863682,043862,631

1,017,488

1,185,6751,354,2751,445,3661,555,208

1,392,2981,410,6211,420,6441,401,6091,415,2621,428,020

1,424,7811,459,7931,445,3661,457,6521,478,5501,483,625

1,483,1351,510,7781,522,7451,496,8961,520,9091,523,776

1,520,3031,549,3981,555,208

56,56166,74669,311

76,44374,80379,50984,04187,150

115,677151,723161,329163,819181,883

220,084256,187314,436379,579437,941

472,661506,903483,582524,201

511,792509,182496,642489,343487,944482,919

476,623495,018483,582500,525503,235502,918

506,561511,150514,363507,457507,638508,031

508,332521,960524,201

53,58452,29550,182

57,03558,55757,15754,13950,103

65,85289,151113,319132,993127,574

156,244182,237221,783294,955332,808

402,766467,348526,746552,993

480,085492,477506,646496,631508,008518,547

520,691528,692526,746523,169530,327528,258

522,336542,026542,609528,078544,505540,794

535,847555,299552,993

21,05721,85018,078

8,28614,50316,03316,38514,197

15,38524,16933,06733,50032,279

38,80948,74375,74999,174130,417

159,383189,995209,160232,453

201,022199,928208,331207,786201,683209,422

210,380209,710209,160209,135214,818222,785

224,032218,633226,733224,286222,586229,204

229,946225,965232,453

6,1536,1106,097

7,8766,3576,3588,7419,930

8,8578,0878,42811,38318,489

25,90132,56933,01740,82649,664

62,85370,66472,86274,186

70,86173,55373,54473,15873,19672,903

72,85973,03672,86272,77674,05173,875

73,94773,94474,01573,38273,22873,131

73,22674,57174,186

12,96812,67012,337

8,2727,6456,9224,5643,481

4,6116,65210,53114,80520,304

22,67930,12737,05848,09766,658

88,012119,365153,016171,375

128,538135,481135,481134,691144,431144,229

144,228153,338153,016152,047156,119155,789

156,259165,025165,025163,639172,952172,616

172,952171,603171,375

Average length

Years

544

3

332

22233

34344

4555

555555

555555

55

555

555

Months

1

2

8631

11

871137

901116

11399

476698

899899

910991110

10109

Note.—All issues classified to final maturity.Through fiscal year 1976, the fiscal year was on a July 1-June 30 basis; beginning October 1976 (fiscal year 1977), the fiscal year is

on an October 1—September 30 basis.

Source: Department of the Treasury.


TABLE B-86.—Estimated ownership of public debt securities by private investors, 1976-88

[Par values;l billions of dollars]

End of month

1976:JuneDec

1977:JuneDec

1978:JuneDec

1979:JuneDec

1980:JuneDec

1981:JuneDec

1982:JuneDec

1983:MarJuneSeptDec

1984:MarJuneSeptDec

1985:MarJuneSeptDec

1986:MarJuneSeptDec

1987:MarJuneSeptDec

1988:MarJuneSept

Held by private investors

Total

376.4409.5

421.0461.3

477.8508.6

516.6540.5

558.2616.4

651.2694.5

740.9848.4

906.6948.6982.7

1,022.6

1,073.01,102.21,154.11,212.5

1,254.11,292.01,338.21,417.2

1,473.11,502.71,553.31,602.0

1,641.41,657.71,682.61,745.2

1,778.21,784.91,819.0

Commer-cial

banks2

91.4103.5

102.798.9

97.895.0

86.188.1

97.4112.1

119.7111.4

116.1131.4

153.2171.6176.3188.8

192.9185.4184.6186.0

197.8201.6203.6198.2

201.7200.6200.9203.5

199.9199.3205.0201.2

201.0202.5203.0

Nonbank investors

Total

285.0306.0

318.3362.4

380.0413.6

430.5452.4

460.8504.3

531.5583.1

624.8717.0

753.4777.0806.4833.8

880.1916.8969.5

1,026.5

1,056.31,090.41,134.61,219.0

1,271.41,302.11,352.41,398.5

1,441.51,458.41,477.61,544.0

1,577.21,582.41,616.0

Individuals3

Total

96.1101.6

104.9107.8

109.0114.0

115.5118.0

116.5117.1

107.4110.8

114.1116.5

116.7121.3129.0133.4

136.2142.2142.4143.8

145.1148.7151.4154.8

157.8159.5158.0162.8

163.0165.4168.9173.4

173.8177.9179.8

Savingsbonds4

69.672.0

74.476.7

79.180.7

80.679.9

73.472.5

69.268.1

67.468.3

68.869.770.671.5

72.272.973.774.5

75.476.778.279.8

81.483.887.192.3

94.796.898.5

101.1

104.0106.2107.8

Othersecuri-

ties

26.529.6

30.531.1

29.933.3

34.938.1

43.144.6

38.242.7

46.748.2

47.951.658.461.9

64.069.368.769.3

69.772.073.275.0

76.475.770.970.5

68.368.770.472.3

69.871.772.0

Insur-ance

compa-nies

14.416.2

18.119.9

19.720.0

20.921.4

22.324.0

26.429.0

35.844.1

49.654.058.565.3

66.164.256.564.5

66.569.171.478.5

84.088.696.4

105.6

112.2112.2118.4120.6

125.5132.2135.0

Moneymarketfunds

0.81.1

.8

.9

1.31.5

3.85.6

5.33.5

9.021.5

22.442.6

44.828.322.122.8

19.414.913.625.9

26.724.822.725.1

29.922.824.928.0

18.520.615.214.3

14.913.110.8

Corpora-tions5

23.323.5

22.118.2

17.317.3

18.6. 17.0

14.019.3

19.917.9

17.624.5

27.232.835.939.7

42.645.347.750.1

50.854.959.059.0

59.661.265.768.8

73.579.781.884.6

83.086.586.0

State andlocal

govern-ments6

34.240.9

50.358.1

70.076.1

78.781.7

83.387.9

94.296.S

103.3115.0

123.0127.4137.0149.0

155.0162.9170.0173.0

177.0190.3203.0226.7

225.6227.1251.2262.8

264.6268.7273.0282.6

285.8286.3287.0

Foreignand

interna-tional7

69.878.1

87.9109.6

119.5133.1

114.9119.0

118.2129.7

136.6136.6

137.2149.5

156.2160.1160.1166.3

166.3171.6175.5192.9

186.4200.7209.8212.5

217.9237.1253.4251.6

260.3268.6267.0287.3

321.0333.8334.3

Otherinves-tors8

46.444.6

34.247.9

43.251.6

78.189.7

101.2122.8

138.0170.5

194.4224.8

235.9253.1263.8257.3

294.5315.7363.8376.3

403.8401.9417.3462.4

496.6505.8502.8518.9

549.4543.2553.3581.2

573.2552.6583.1

1 U.S. savings bonds, series A-F and J, are included at current redemption value.2 Includes domestically chartered banks, U.S. branches and agencies of foreign banks, New York investment companies majority owned by foreign banks,

and Edge Act corporations owned by domestically chartered and foreign banks.3 Includes partnerships and personal trust accounts.4 Includes U.S. savings notes. Sales began May 1, 1967, and were discontinued June 30, 1970.5 Exclusive of banks and insurance companies.6 Includes State and local pension funds.7 Consists of the investment of foreign balances and international accounts in the United States.8 Includes savings and loan associations, credit unions, nonprofit institutions, mutual savings banks, corporate pension trust funds, dealers and brokers,

certain Government deposit accounts, and Government-sponsored agencies.Source: Department of the Treasury.


CORPORATE PROFITS AND FINANCE

TABLE B-87.—Corporate profits with inventory valuation and capital consumption adjustments, 1929-88


Year or quarter

19291933.1939

1940194119421943194419451946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

198019811982198319841985.1986.1987.

1982: IV.1983: IV.1984: IV.1985: IV.

1986 1III I I .IV.

1987 1I I .I l lIV.

1988:1.I I .I I I .

Corporateprofits with

inventoryvaluation

and capitalconsumptionadjustments

96-1.5

5.5

8.814.319.724.024.219.717.222.930.328.0

34.939.937.537.736.647.145.745.340.351.4

49.550.358.363.670.781.386.684.190.787.4

74.787.1

100.7113.3101.7117.6145.2174.8197.2200.1

177.2188.0150.0213.7266.9282.3298.9310.4

146.1248.5266.9291.4

303.2297.1301.2293.9

298.3305.2322.0316.1

316.2326.5330.0

Corporateprofits tax

liability

1.4.5

1.4

2.87.6

11.414.112.910.79.1

11.312.410.2

17.922.619.420.317.622.022.021.419.023.6

22.722.824.026.228.030.933.732.739.439.7

34.437.741.949.351.850.964.273.083.588.0

84.881.163.177.293.996.4

106.6133.8

59.888.187.099.8

99.2104.9107.9114.3

126.3132.6140.0136.2

136.9143.2144.8

Corporate profits after tax with inventoryvaluation and capital consumption adjustments

Total

8.2-2.1

4.0

5.96.78.39.9

11.29.08.0

11.717.817.8

17.017.318.117.419.025.123.823.821.427.8

26.827.634.337.442.750.452.951.451.447.7

40.349.358.864.149.966.781.0

101.8113.7112.1

92.4106.8

86.9136.5173.0185.9192.3176.6

86.3160.4179.9191.5

204.0192.2193.3179.6

172.0172.6182.1179.9

179.3183.2185.2

Dividends

5.82.03.8

4.04.44.34.44.64.65.66.37.07.2

8.88.58.58.89.1

10.311.111.511.312.2

12.913.314.415.517.319.119.420.222.022.5

22.522.924.427.029.729.634.639.544.750.1

54.763.666.971.579.083.388.295.5

68.573.980.884.0

86.288.088.989.8

91.794.097.099.3

101.3103.1105.7

Undistributedprofits with

inventoryvaluation

and capitalconsumptionadjustments

2.4-4.1

.3

1.92.34.05.56.64.42.55.4

10.810.6

8.28.89.68.69.8

14.812.712.310.115.6

13.914.219.921.925.331.333.531.229.425.2

17.926.434.437.020.237.146.462.369.062.0

37.743.220.065.094.0

102.6104.1

81.1

17.986.599.1

107.6

117.8104.2104.4

89.9

80.378.585.080.5

78.180.179.5

Source-. Department of Commerce, Bureau of Economic Analysis.

409


TABLE B-88.—Corporate profits by industry, 1929-88


Year or quarter

19291933..193919401941194219431944. ..19451946. ..194719481949195019511952195319541955195619571958195919601961196219631964196519661967196819691970. . .197119721973197419751976197719781979198019811982198319841985198619871982: IV1983- IV1984: IV1985: IV1986- 1

III l lIV

1987- 1III l lIV

1988:1I II l l -

Corporate profits with inventory valuation adjustment and without capital consumption adjustment

Total

10.5-1.2

6.59.8

15.420.524.524.019.319.625.933.431.137.943.340.640.238.447.546.946.641.652.349.850.155.259.866.276.281.278.685.481.469.582.794.9

107.199.4

123.9155.3183.8208.2214.1194.0202.3159.2196.7234.2222.6244.7258.7150.7223.4224.6228.4243.4242.1249.2244.1247.5253.6269.9263.7266.8278.5284.6

Domestic industries

Total

10.2-1.2

6.19.6

15.020.124.123.518.918.924.932.229.936.741.538.738.436.445.144.143.539.149.646.746.851.555.861.871.576.773.979.974.862.675.185.592.682.4

109.5139.3165.5186.0180.4159.6173.8131.2166.6203.3191.4212.8222.3121.6190.7193.9193.6208.5213.5217.2211.9213.0219.2234.6222.2236.6243.1243.8

Financial J

Total

1.3

^81.01.11.21.31.61.72.11.72.63.13.13.64.04.54.64.85.05.25.76.87.27.07.36.86.97.58.59.0

10.411.212.214.115.415.814.711.215.921.629.127.821.016.511.818.113.022.831.830.118.715.513.626.031.634.532.428.930.731.429.528.827.630.032.7

FederalRe-

servebanks

0.0.0.0.0.0.0.0.1.1.1.1.2.2.2.3.4.4.3.3.5.6.6.7

1.0.8.9

1.01.11.41.72.02.53.13.63.33.44.55.75.76.06.27.79.6

11.914.515.414.816.716.816.016.014.815.417.416.316.916.115.615.515.716.016.216.217.517.418.2

Other

1.3

!s.9

1.01.21.31.61.62.01.62.32.93.03.33.74.14.34.54.54.65.16.06.26.36.45.85.86.26.87.07.98.18.6

10.712.011.28.95.59.9

15.421.418.29.01.9

-3.63.3376.1

15.814.13.9

-3.B9.7

14.718.416.713.415.015.413.412.610.112.614.5

Nonfinancial

Total

8.9-1.5

5.38.6

14.018.922.821.917.316.823.229.626.833.537.934.733.931.840.339.138.333.542.939.539.844.249.054.964.068.264.969.563.750.461.070.276.867.898.3

123.4143.9156.8152.6138.6157.3119.4148.5190.3168.6180.9192.1102.9175.2180.3167.6176.9179.0184.9183.0182.3187.8205.1193.4209.0213.1211.1

Manu-fac-

turing2

5.2-.43.35.59.5

11.813.813.29.79.0

13.617.616.220.924.621.722.019.926.024.724.019.426.423.623.326.029.332.339.341.938.641.436.726.734.340.846.239.853.670.980.688.787.577.188.558.070.188.879.779.496.846.888.679.883.875.480.573.887.784.893.8

107.0101.7110.6114.5111.4

Trans-porta-

tion andpublic

utilities

1.8.0

1.01.32.03.44.43.92.71.82.23.03.04.04.64.95.04.75.65.95.85.97.07.47.88.49.3

10.011.011.810.710.810.38.28.59.08.56.7

10.314.817.920.915.217.619.519.328.538.533.039.234.916.331.338.130.636.039.043.738.233.835.834.036.134.538.239.3

Wholesaleand retail

trade

1.0-.5

.71.21.42.23.03.23.33.84.65.54.55.05.04.83.83.85.04.54.44.65.94.95.05.85.97.58.18.29.1

10.410.59.6

11.713.413.912.922.223.027.527.328.721.632.534.638.951.244.146.142.833.643.151.838.548.543.449.942.546.537.844.143.043.937.036.6

Other

0.9-.7

.3

.61.11.51.61.61.52.12.93.63.13.63.73.33.13.43.64.14.03.63.63.63.73.94.45.15.66.36.56.96.15.96.56.98.28.3

12.214.717.820.021.122.416.87.5

10.911.811.816.317.66.2

12.210.514.617.016.117.414.517.220.420.012.620.023.423.8

Restof theworld

0.2.0.3.3.4.4.4.4.3.7

1.01.31.11.31.71.91.82.02.42.83.12.52.73.13.33.74.04.44.64.44.75.56.56.97.69.3

14.517.014.416.018.322.233.734.428.528.030.230.931.231.936.429.132.730.634.834.928.732.032.234.534.435.341.430.235.440.8

1 Consists of the following industries: Banking; credit agencies other than banks; security and commodity brokers, dealers, andservices; insurance carriers; regulated investment companies; small business investment companies; and real estate investment trusts.2 See Table B-89 for industry detail.

Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning1948, and on the 1942 SIC prior to 1948.


410


TABLE B-89.—Corporate pro/its of manufacturing industries, 1929-88


Year or quarter

1929193319391940194119421943 . . . .194419451946194719481949195019511952195319541955195619571958195919601961196219631964196519561967196819691970197119721973197419751976197719781979198019811982198319841985198619871982: IV1983: IV1984- IV1985- IV1986- 1

||II IIV

1987- 1||II IIV

1988: 1IIIII

Corporate profits with inventory valuation adjustment and without capital consumption adjustment

Totalmanufac-

turing

•52-.4335.595

11.81381329.79.0

13.617.616.220.924.621.722.019.926.024.724.019.426.423.623.326.029.332.339.341.S38.641.436.726.734.340.846.239.853.670.980.688.787.577.188.558.070.188.879.779.496.846.888.679.883.875.480.573.887.784.893.8

107.0101.7110.6114.5111.4

Durable goods

Total

26-.4173.1647.281744.52.45.87.58.1

12.013.211.711.910.514.312.813.39.3

13.711.611.414.016.317.923.023.821.022.219.010.216.422.524.714.619.831.338.644.637.321.321.02.1

17.238.128.532.436.5

-6.629.436.628.031.433.829.934.439.036.640.929.433.941.539.0

Pri-marymetalindus-tries

1.61.52.33.11.92.51.72.93.03.01.92.32.01.61.62.02.53.13.62.71.91.4.8.7

1.62.34.92.72.01.33.53.62.53.1

-4.9-4.9-.61 4

51.4

-5.1-4.4

g-1.2

1 0.0

-1.0.0

1.1.2

1.92.63.25.15.2

Fabri-catedmetalprod-ucts

0.8.7

1.11.31.01.0.9

1.11.11.1.9

1.1.8

1.01.11.31.42.02.42.42.32.01.11.52.12.61.63.13.94.44.95.24.34.42.43.04.74.65.45.7

.94.45.64.05.46.15.34.94.64.17.26.78.07.55.4

Machin-ery,

exceptelectri-

cal

1.21.31.62.32.31.91.71.72.12.01.42.11.81.92.32.53.33.94.54.14.13.73.02.94.34.73.14.86.78.99.69.17.78.64.13.16.23.23.33.21.34.75.54.04.04.92.32.03.92.74.61.73.35.55.9

Electricandelec-

tronicequip-ment

0.7.8

1.21.31.51.41.21.11.21.51.31.71.31.31.51.61.72.73.02.92.82.31.21.92.83.0

.32.43.75.86.75.24.74.11.73.75.53.63.23.2

6'.25.52.54.34.41.62.82.65.35.5

-.81.24.14.4

Motorvehicles

andequip-ment

1.42.13.12.42.42.62.14.12.22.6

.93.03.02.54.04.94.76.25.13.95.54.81.25.15.95.8

.72.07.29.48.94.72 5!l

-.85.19.07.27.67.3

-2.78.78.87.87.17.17.58.69.59.65.64.54.24.65.8

Other

1.81.72.62.82.62.62.93.53.23.12.93.52.73.13.54.04.45.15.24.95.74.92.94.35.86.24.04.87.98.8

10.99.54.5

.7-.47.2

13.311.313.315.7

-1.29.9

12.010.911.511.414.216.217.314.716.214.614.014.712.4

Nondurable goods

Total

2.6.0

1.72.4314.657595.2667.8

10.08.18.9

11.49.9

10.19.4

11.811.910.710.012.712.011.912.013.114.416.318.117.619.117.716.517.918.321.625.233.839.642.044.050.255.867.555.953.050.751.247.060.353.559.243.255.844.046.743.953.345.757.266.172.476.873.072.3

Foodand

kindredprod-ucts

1.91.61.61.41.71.81.62.21.81.82.12.42.22.32.32.72.72.83.23.23.23.03.23.52.92.52.58.87.16.96.25.86.18.77.07.26.78.3

11.212.87.18.05.98.5

10.710.811.312.010.012.214.014.915.917.515.9

Chemi-calsand

alliedprod-ucts

1.71.82.32.82.32.22.23.02.82.82.53.53.13.23.23.64.04.64.94.35.24.63.94.55.26.05.16.48.27.88.27.25.48.25.26.78.06.29.5

13.53.27.87.13.67.98.6

10.111.411.912.314.415.319.118.618.4

Petro-leumandcoal

prod-ucts

2.81.92.32.72.32.82.73.03.32.62.12.52.52.22.22.12.42.93.23.93.73.33.53.63.05.2

10.79.5

13.112.914.722.531.436.529.121.417.217.57.0

12.225.925.312.925.58.09.73.37.03.3

12.014.718.817.414.816.8

Other

3.72.82.74.43.63.32.93.64.13.63.34.34.24.14.34.65.36.06.86.37.06.95.96.47.27.97.09.1

11.214.414.914.712.914.114.517.718.819.219.321.917.318.117.318.217.517.619.322.920.520.722.923.424.522.121.2

Note.—The industry classification is on a company basis and is based on the 1972 Standard Industrial Classification (SIC) beginning1948, and on the 1942 SIC prior to 1948.


411


TABLE B-90.—Sales, profits, and stockholders' equity, all manufacturing corporations, 1950-88


Year orquarter

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

1970197119721973

1973: IV

New series:1973- IV

1974

19751976197719781979

19801981198219831984

198519861987

1986- 1I II l lIV

1987:1I II l lIV

1988:1I II l l

All manufacturing corporations

Sales(net)

181.9245.0250.2265.9248.5

278.4307.3320.0305.3338.0

345.7356.4389.4412.7443.1

492.2554.2575.4631.9694.6

708.8751.1849.5

1,017.2

275.1

236.6

1,060.6

1,065.21,203.21,328.11,496.41,741.8

1,912.82,144.72,039.42,114.32,335.0

2,331.42,220.92,378.2

544.0566.2546.3564.5

556.8596.1597.7627.7

611.8653.0645.6

Profits

Beforeincometaxes l

23.227.422.924.420.9

28.629.828.222.729.7

27.527.531.934.939.6

46.551.847.855.458.1

48.152.963.281.4

21.4

20.6

92.1

79.9104.9115.1132.5154.2

145.8158.6108.2133.1165.6

137.0129.3173.0

31.038.730.629.0

38.147.549.338.2

51.058.453.7

Afterincometaxes

12.911.910.711.311.2

15.116.215.412.716.3

15.215.317.719.523.2

27.530.929.032.133.2

28.631.036.548.1

13.0

13.2

58.7

49.164.570.481.198.7

92.6101.3

70.985.8

107.6

87.683.1

115.6

19.426.718.418.7

24.731.533.326.1

36.941.538.2

Stock-holders'equity2

83.398.3

103.7108.2113.1

120.1131.6141.1147.4157.1

165.4172.6181.4189.7199.8

211.7230.3247.6265.9289.9

306.8320.8343.4374.1

386.4

368.0

395.0

423.4462.7496.7540.5600.5

668.1743.4770.2812.8864.2

866.2874.7900.9

863.7876.9880.2878.1

885.7894.1911.0912.8

932.9948.5959.0

Durable goods industries

Sales(net)

86.8116.8122.0137.9122.8

142.1159.5166.0148.6169.4

173.9175.2195.3209.0226.3

257.0291.7300.6335.5366.5

363.1381.8435.8527.3

140.1

122.7

529.0

521.1589.6657.3760.7865.7

889.1979.5913.1973.5

1,107.6

1,142.61,125.51,178.0

270.7289.4275.4290.0

279.1296.9290.0311.9

300.4325.9315.8

Profits

Beforeincometaxes l

12.915.412.914.011.4

16.516.515.811.415.8

14.013.616.818.521.2

26.229.225.730.631.5

23.026.533.643.6

10.8

10.1

41.1

35.350.757.969.672.4

57.467.234.748.775.5

61.552.178.0

12.917.511.510.2

16.822.420.518.2

21.226.321.9

Afterincometaxes

6.76.15.55.85.6

8.18.37.95.88.1

7.06.98.69.5

11.6

14.516.414.616.516.9

12.914.518.424.8

6.3

6.2

24.7

21.430.834.841.845.2

35.641.621.730.048.9

38.632.653.0

7.811.86.66.4

10.614.814.313.4

15.419.315.7

Stock-holders'equi ty 2

39.947.249.852.454.9

58.865.270.572.877.9

82.384.989.193.398.5

105.4115.2125.0135.6147.6

155.1160.4171.4188.7

194.7

185.8

196.0

208.1224.3239.9262.6292.5

317.7350.4355.5372.4395.6

420.9436.3444.3

431.7436.2440.8436.6

434.7445.2447.1450.2

459.4467.4471.3

Nondurable goods industries

Sales(net)

95.1128.1128.0128.0125.7

136.3147.8154.1156.7168.5

171.8181.2194.1203.6216.8

235.2262.4274.8296.4328.1

345.7369.3413.7489.9

135.0

113.9

531.6

544.1613.7670.8735.7876.1

1,023.71,165.21,126.41,140.81,227.5

1,188.81,095.41,200.3

273.3276.8270.9274.5

211.1299.2307.6315.8

311.4327.2329.8

Profits

Beforeincometaxes l

10.312.110.010.49.6

12.113.212.411.313.9

13.513.915.116.418.3

20.322.622.024.826.6

25.226.529.637.8

10.6

10.5

51.0

44.654.357.262.981.8

88.491.373.684.490.0

75.677.295.1

18.121.219.118.8

21.225.128.819.9

29.832.131.8

Afterincometaxes

6.15.75.25.55.6

7.07.87.56.98.3

8.28.59.2

10.011.6

13.014.614.415.516.4

15.716.518.023.3

6.7

7.0

34.1

27.733.735.539.353.5

56.959.649.355.858.8

49.150.562.6

11.614.911.712.3

14.216.719.012.7

21.522.222.5

Stock-holders'equity2

43.551.153.955.758.2

61.366.470.674.679.2

83.187.792.396.3

101.3

106.3115.1122.6130.3142.3

151.7160.5172.0185.4

191.7

182.1

199.0

215.3238.4256.8277.9308.0

350.4393.0414.7440.4468.5

445.3438.4456.6

432.0440.8439.4441.6

451.0448.9463.9462.6

473.5481.1487.7

1 In the old series, "income taxes" refers to Federal income taxes only, as State and local income taxes had already been deducted.In the new series, no income taxes have been deducted.

2 Annual data are average equity for the year (using four end-of-quarter figures).Note.—Data are not necessarily comparable from one period to another due to changes in accounting procedures, industry

classifications, sampling procedures, etc. For explanatory notes concerning compilation of the series, see "Quarterly Financial Report forManufacturing, Mining, and Trade Corporations,' Department of Commerce, Bureau of the Census.


412


TABLE B-91.—Relation of profits after taxes to stockholders' equity and to sales, all manufacturingcorporations, 1947-88

Year or quarter

194719481949

195019511952 .19531954

19551956195719581959

19601961196219631964

19651966196719681969

1970197119721973

1973: IV

New series:

1973- IV

1974

1975197619771978. .1979

19801981198219831984

198519861987

1986:1I II l lIV

1987-111I l lIV

1988- 1I II l l

Ratio of profits after income taxes ( annua lrate) to stockholders' equity — percent *

Al lmanufac tur ing

corporations

15.616.011.6

15.412.110.310.59.9

12.612.310.98.6

10.4

9.28.99.8

10.311.6

13.013.411.712.111.5

9.39.7

10.612.8

13.4

14.3

14.9

11.613.914.215.016.4

13.913.69.2

10.612.5

10.19.5

12.8

9.012.28.48.5

11.214.114.611.5

15.817.516.0

Durablegoods

industries

14.415.712.1

16.913.011.111.110.3

13.812.811.38.0

10.4

8.58.19.6

10.111.7

13.814.211.712.211.4

8.39.0

10.813.1

12.9

13.3

12.6

10.313.714.516.015.4

11.211.96.18.1

12.4

9.27.5

11.9

7.210.86.05.9

9.713.312.811.9

13.516.513.3

Nondurablegoods

industries

16.616.211.2

14.111.29.79.99.6

11.411.810.69.2

10.4

9.89.69.9

10.411.5

12.212.711.811.911.5

10.310.310.512.6

14.0

15.3

17.1

12.914.213.814.217.4

16.315.211.912.712.5

11.011.513.7

10.813.510.711.1

12.614.916.311.0

18.118.418.5

Profits after income taxes per dollar ofsales— cents

Allmanufac tur ingcorporations

6.77.05.8

7.14.94.34.34.5

5.45.34.84.24.8

4.44.34.54.75.2

5.65.65.05.14.8

4.04.14.34.7

4.7

5.6

5.5

4.65.45.35.45.7

4.84.73.54.14.6

3.83.74.9

3.64.73.43.3

4.45.35.64.2

6.06.35.9

Durablegoods

industries

6.77.16.4

7.75.34.54.24.6

5.75.24.83.94.8

4.03.94.44.55.1

5.75.64.84.94.6

3.53.84.24.7

4.5

5.0

4.7

4.15.25.35.55.2

4.04.22.43.14.4

3.42.94.5

2.94.12.42.2

3.85.04.94.3

5.15.95.0

Nondurablegoods

industries

6.76.85.4

6.54.54.14.34.4

5.15.34.94.44.9

4.84.74.74.95.4

5.55.65.35.25.0

4.54.54.44.8

5.0

6.1

6.4

5.15.55.35.36.1

5.65.14.44.94.8

4.14.65.2

4.25.44.34.5

5.15.66.24.0

6.96.86.8

1 Annual ratios based on average equity for the year (using four end-of-quarter figures). Quarterly ratios based on equity at end ofquarter only.

Note.—Based on data in millions of dollars.See Note, Table B-90.Source: Department of Commerce, Bureau of the Census.


TABLE B-92.—Sources and uses of funds, nonfarm nonfinancial corporate business, 1946-88


Year orquarter

1946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

1970197119721973197419751976197719781979

19801981198219831984198519861987

1986:1I II l lIV

1987:1I II l lIV

1988:1I II l l

Sources

Total

19.227.529.420.5

42.636.930.228.629.853.445.143.542.256.6

48.255.860.668.574.292.799.094.9

114.0116.0

101.8127.4153.4215.2179.0155.3214.6259.3314.1326.0

324.8375.8298.5420.3492.6459.2492.2474.1

440.0473.1453.7602.2

421.7474.1476.5524.0

453.7486.8471.2

Internal

Total

8.513.319.720.0

18.520.822.522.324.429.930.132.030.736.4

35.936.943.247.052.359.163.364.265.865.2

62.874.786.493.989.3

124.8142.0165.1182.3197.6

200.1239.5242.3285.7336.3352.3357.5352.8

367.6355.2358.0349.1

346.8347.9358.3358.1

359.9363.6359.7

Domes-tic

undis-tributedprofits

8.112.113.28.7

13.19.67.88.07.6

11.810.99.66.5

10.6

8.07.29.6

11.014.619.121.218.117.113.4

7.612.718.128.834.136.449.158.466.971.5

53.750.211.622.241.816.76.3

16.0

-.44.37.3

14.0

13.116.722.511.8

24.229.627.0

Inven-tory

valuationand

capitalcon-

sumptionadjust-ments

-7.6-8.7-5.2-1.0

-7.9-4.4-2.0-3.3-1.9-2.0-3.7-2.7-1.5-1.0

-.4.6

3.13.93.93.93.33.91.7.0

-1.6-.5

-1.2-14.7-38.1-17.9-25.4-26.0-36.6-57.2

-59.2-38.0-18.7

5.125.153.556.725.7

74.961.154.935.8

29.623.924.125.0

20.210.15.7

Capitalcon-

sumptionallow-ances

7.49.0

10.411.2

12.013.814.815.916.817.820.022.023.124.1

25.125.926.828.029.431.534.337.641.445.4

49.954.860.165.276.391.9

102.3114.3129.8149.6

171.3198.8221.4228.2238.4251.0262.6274.7

258.1261.3263.8267.2

269.6273.0276.5279.8

285.3288.5291.8

Foreignearn-ings1

0.71.01.31.1

1.31.71.91.82.02.42.83.12.52.7

3.13.33.74.14.44.74.54.65.56.5

6.97.69.3

14.517.014.416.018.322.233.7

34.428.528.130.230.931.131.936.4

34.928.632.032.2

34.534.335.241.5

30.235.435.2

External

Total

10.614.19.8

.5

24.016.17.86.25.4

23.415.111.511.620.2

12.418.917.421.621.933.635.730.748.350.8

39.052.767.0

121.389.730.572.694.2

131.9128.4

124.7136.4

56.2134.6156.3106.9134.8121.3

72.4117.8

95.7253.0

74.9126.2118.2165.9

93.8123.2111.5

Credit market funds

Total

6.98.46.53.1

8.110.49.35.86.3

10.312.612.010.412.3

11.312.012.912.013.918.824.627.527.532.3

34.137.442.476.354.923.150.769.470.960.1

70.790.749.877.995.850.993.159.8

1 48.662.872.6

188.4

14.276.460.388.1

89.973.959.1

Securi-tiesand

mort-gages

3.65.46.74.9

4.26.48.16.26.76.67.4

10.110.58.3

7.410.59.08.17.87.0

14.319.215.014.6

26.332.826.444.421.439.442.444.637.69.0

34.529.410.352.6

-5.15.0

35.429.4

63.335.127.815.5

75.212.628.1

1.7

9.8-3.6

1.6

Loansand

short-termpaper

3.43.0

1-L8

4.04.01.2

-.4-.43.75.31.9

-.14.0

3.91.53.83.86.1

11.810.38.3

12.517.7

7.84.5

16.031.933.5

-16.38.3

24.833.251.1

36.261.239.525.3

100.946.057.630.3

-14.727.744.8

172.9

-61.063.832.286.4

80.177.557.5

Other2

3.75.83.3

-2.7

15.95.7

-1.5.5

-.913.22.4

-.51.27.9

1.06.94.69.68.0

14.711.13.2

20.818.5

4.915.424.645.034.8

7.421.924.761.068.2

54.045.7

6.456.860.555.941.761.5

23.855.123.164.7

60.749.757.877.8

3.949.352.4

Uses

Total

17.526.525.618.4

40.437.930.028.528.149.141.140.038.652.1

41.850.756.260.364.983.492.087.6

106.2115.0

97.9121.8145.1189.7191.1153.4210.4242.2324.7368.1

342.1383.6303.5385.8502.7435.3454.3436.6

431.4442.4424.6518.8

388.0436.0446.4476.0

401.5440.0461.4

Capitalexpendi-tures 3

18.818.120.714.9

24.030.625.426.223.332.537.235.727.838.0

37.836.543.844.650.161.675.371.275.483.3

79.285.195.0

119.0138.6112.3156.9179.6217.0238.3

243.7286.5256.5270.7370.6342.3331.5361.0

360.5333.9315.5316.0

341.1345.6350.9406.3

385.4385.1394.6

Increasein

f inanc ia lassets

-1.48.45.03.5

16.47.44.62.34.9

16.54.04.2

10.814.2

3.914.212.515.714.921.816.716.430.831.7

18.736.750.170.752.541.153.562.6

107.7129.8

98.497.0470

115.1132.1

93.0122.8

75.6

70.9108.5109.1202.8

47.090.595.469.7

16.154.966.8

Discrep-ancy

(sourcesless

uses)

1.71.03.82.1

2.2-1.1

.2

.01.74.34.03.63.64.5

6.45.14.48.39.39.36.97.37.91.1

3.85.68.3

25.5-12.0

1.94.2

17.1-10.5-42.1

- 17.3-7.7-4.934.5

-10.123.937.937.5

8.630.629.183.3

33.738.130.148.1

52.246.7

9.9

1 Foreign branch profits, dividends, and subsidiaries' earnings retained abroad.2 Consists of tax liabilities, trade debt, and direct foreign investment in the United States.3 Plant and equipment, residential structures, inventory investment, and mineral rights from U.S. Government.



TABLE B-93.—State and municipal and business securities offered, 1940-88


Year or quarter

194019411942194319441945....1946194719481949

1950195119521953195419551956195719581959

1960196119621963196419651966196719681969

197019711972197319741975197619771978 61979

19801981198219831984198519861987

1988: First threequarters

1987:1IIIllIV

1988:1||I I I

Stateand

municipalsecuritiesofferedfor cash(princi-

palamounts)

1,238956524435661795

1,1572,3242,6902,907

3,5323,1894,4015,5586,9695,9775,4466,9587,4497,681

7,2308,3608,55810,10710,54411,14811,08914,28816,37411,460

17,76224,37022,94122,95322,82429,32633,84545,06046,21542,261

47,13346,13477,17983,348101,882203,954142,54498,673

77,154

30,15625,29120,40222,823

23,61326,66826,853

Business securities offered for cash 1

Totalofferings

2,6772,6671,0621,1703,2026,0116,9006,5777,0786,052

6,3627,7419,5348,8989,51610,24010,93912,88411,5589,748

10,15413,16510,70512,21113,95714,78217,38524,01421,26125,997

37,45143,22939,70531,68037,82053,63253,31454,22928,83236,117

65,38364,50073,397103,35595,287133,460248,722268,770

187,778

77,36265,49168,86557,052

65,80068,41253,566

Type of security

Commonstock 2

1081103456163397891779614736

8111,2121,3691,3261,2132,1852,3012,5161,3342,027

1,6643,2941,3141,0112,6791,4731,9011,9273,8857,640

7,0379,48510,7077,6424,0507,4148,3058,0477,8659,106

19,44325,50523,70745,33522,24836,71859,00265,836

37,262

16,12019,60814,92415,184

13,24410,54513,473

Preferredstock

183167112124369758

1,127762492425

631838564489816635636411571531

409450422343412724580881636691

1,3903,6833,3713,3412,2733,4592,8033,9161,7492,068

3,4761,6974,9537,9534,3257,01312,19511,595

4,984

4,6102,4522,1122,421

2,1281,2261,630

Bondsandnotes

2,3862,389917990

2,6704,8554,8825,0365,9734,890

4,9205,6917,6017,0837,4887,4208,0029,9579,6537,190

8,0819,4208,96910,85610,86512,58514,90421,20616,74017,666

29,02330,06125,62820,70031,49742,75942,20642,26619,21824,943

42,46437,29844,73750,06768,71489,729177,525191,339

145,532

56,63243,43151,82939,447

50,42856,64138,463

Industry of issuer

Manufac-turing3

992848539510

1,0612,0263,7012,7422,2261,414

1,2003,1224,0392,2542,2682,9943,6474,2343,5152,073

2,1524,0773,2493,5143,0465,4147,05611,0696,9586,346

10,64711,6516,3984,83210,51118,65215,49613,7574,5316,766

20,44114,70813,85123,09616,57926,75346,31546,172

26,060

16,16211,4559,5868,969

6,83410,1119,115

Electric,gas, andwater4

1,2031,357472477

1,4222,3192,1583,2572,1872,320

2,6492,4552,6753,0293,7132,4642,5293,9383,8043,258

2,8513,0322,8252,6772,7602,9343,6664,9355,2936,715

11,00911,72111,31410,26912,83615,89314,41813,7049,20710,133

13,98113,07516,52912,9498,17610,04925,48419,943

10,447

6,2654,8134,1904,675

3,7354,9961,716

Trans-porta-tion5

32436648161609

1,454711286755800

813494992595778893724824824967

718694567957982702

1,4941,6391,5641,779

1,2531,148860811

1,0053,6374,6493,218333848

1,2691,4331,8004,0071,6944,0364,9706,698

2,668

2,8741,3731,596855

1,3501,246

72

Com-muni-cation

902"571

399612760882720

1,1321,4191,4621,424717

1,0501,8341,3031,1052,189945

2,0031,9751,7752,172

5,2915,8404,8364,8723,9324,4663,5624,4432,9604,486

6,8725,8713,9015,5772,2674,15314,9547,326

3,542

9141,7871,6922,933

5481,2271,767

Other

15996421109211329293

1,008946

1,3001,0581,0682,1382,0372,7572,6192,4261,9912,733

3,3833,5272,7613,9574,9804,7873,1674,3965,6718,985

9,25212,86716,29810,8979,63210,98315,19419,11311,80113,884

22,82029,41337,31657,72666,57188,469156,999188,631

145,061

51,14746,06351,80139,620

53,33350,83240,896

1 Business securities offered include securities offered by corporate and non-corporate business enterprises such as limitedpartnerships. Beginning 1978 excludes private placements.

2 Common stock combines the conventional ownership shares of corporate business and securities issued by non-corporate business,e.g., limited partnership interests, voting trust certificates, and condominium securities.

3 Prior to 1948, also includes extractive, radio broadcasting, airline companies, commercial, and miscellaneous company issues.4 Prior to 1948, also includes telephone, street railway, and bus company issues.5 Prior to 1948, includes railroad issues only.6 Beginning 1978, business security offerings exclude private placements.

Note.—Covers substantially all new issues of State, municipal, and business securities offered for cash sale in the United States inamounts over $100,000 and with terms to maturity of more than 1 year; excludes notes issued exclusively to commercial banks,intercorporate transactions, and issues to be sold over an extended period, such as employee-purchase plans. Closed-end investmentcompany issues are included beginning 1973.

Sources: Securities and Exchange Commission, "The Commercial and Financial Chronicle," and "The Bond Buyer."


TABLE B-94.—Common stock prices and yields, 1949-88

Year or month

19491950195119521953 ..195419551956195719581959I960196119621963196419651966196719681969 .1970197119721973197419751976197719781979198019811982 ..198319841985 .198619871988"1987: Jan

FebMarAprMayJune-JulyAugSeptOct..NovDec

1988- JanFeb..MarAprMayJune

JulyAugSeptOctNovDec"

Common stock prices 1

New York Stock Exchange indexes (Dec. 31, 1965=50) 2

Composite

9.02108713.0813.8113.67161921.5424.4023.6724.56307330.01353733.49375143.7647.3946.1550.7755.3754.6745.7254.2260.2957.4243.8445.7354.4653.6953.7058.3268.1074.0268.9392.6392.46108.09136.00161.70149.91151.17160.23166.43163.88163.00169.58174.28184.18178.39157.13137.21134.88140.55145.13149.88148.46144.99152.72

152.12149.25151.47156.36152.67155.35

Industrial

46.1851.9758.0057.4448.0357.9265.7363.0848.0850.5260.4457.8658.2364.7678.7085.4478.18107.45108.01123.79155.85195.31180.95175.60189.17198.95199.03198.78206.61214.12226.49219.52189.86163.42162.19168.47173.44181.57180.88176.02184.92

184.09179.72182.18188.58183.79187.75

Transpor-tation

50.2653.5150.5846.9632.1444.3550.1737.7431.8931.1039.5741.0943.5047.3460.6172.6160.4189.3685.63104.11119.87140.39134.12126.61135.49138.55137.91141.30150.39157.48164.02158.58140.95117.57115.85121.20126.09135.15133.43127.63136.02

136.49132.53136.27141.93138.60144.06

Utility

45.4145.4344.1942.8037.2439.5338.4837.6929.7931.5036.9740.9239.2238.2037.3538.9139.7547.0046.4456.7571.3674.3071.7778.5478.1977.1572.7471.6474.2574.1878.2076.1373.2769.8667.3970.0172.8971.1669.4068.6572.25

71.5070.6771.8374.1973.8374.81

Finance

44.4549.8265.8570.4960.0070.3878.3570.1249.6747.1452.9455.2556.6561.4264.2573.5271.9995.3489.28114.21147.20146.48127.26153.32158.41162.41150.52145.97152.73152.25160.94154.08137.35118.30111.47119.40124.36125.27121.67120.35129.04

129.99130.77133.15134.66129.61128.83

DowJones

industrialaverage3

179.48216.31257.64270.76275.97333.94442.72493.01475.71491.66632.12618.04691.55639.76714.81834.05910.88873.60879.12906.00876.72753.19884.76950.71923.88759.37802.49974.92894.63820.23844.40891.41932.92884.36

1,190.341,178.481,328.231,792.762,275.992,060.822,065.132,202.342,292.612,302.642,291.112,384.022,481.722,655.012,570.802,224.591,931.861,910.071,947.351,980.652,044.312,036.131,988.912,104.94

2,104.222,051.292,080.062,144.312,099.042,148.58

& Poor'scomposite

index(1941-43=10)*

15.2318.4022.3424.5024.7329.6940.4946.6244.3846.2457.3855.8566.2762.3869.8781.3788.1785.2691.9398.7097.8483.2298.29109.20107.4382.8586.16102.0198.2096.02103.01118.78128.05119.71160.41160.46186.84236.34286.83265.79264.51280.93292.47289.32289.12301.38310.09329.36318.66280.16245.01240.96250.48258.13265.74262.61256.12270.68

269.05263.73267.97277.40271.02276.51

Common stock yields(percent) 5

Dividend-priceratio6

6.596.576.135.805.804.954.084.094.353.973.233.472.983.373.173.013.003.403.203.073.243.833.142.843.064.474.313.774.625.285.475.265.205.814.404.644.253.493.083.643.173.022.932.993.022.922.832.692.783.253.663.713.663.563.483.573.803.58

3.653.753.693.613.703.68

Earnings-priceratio7

15.4813.9911.829.4710.268.577.957.557.896.235.785.904.625.825.505.325.596.635.735.676.086.455.415.507.1211.599.158.9010.7912.0313.4612.6611.9611.608.0310.028.126.095.48

5.18

4.74

4.93

7.08

7.18

7.92

1 Averages of daily closing prices, except New York Stock Exchange data through May 1964 are averages of weekly closing prices.2 Includes all the stocks (more than 1,500) listed on the New York Stock Exchange.3 Includes 30 stocks.4 Includes 500 stocks.5 Standard & Poor's series, based on 500 stocks in the composite index.6 Aggregate cash dividends (based on latest known annual rate) divided by aggregate market value based on Wednesday closing

prices. Monthly data are averages of weekly figures; annual data are averages of monthly figures.7 Quarterly data are ratio of earnings (after taxes) for 4 quarters ending with particular quarter to price index for last day of thatquarter. Annual ratios are averages of quarterly ratios.

Note.—All data relate to stocks listed on the New York Stock Exchange.Sources: New York Stock Exchange, Dow Jones & Co., Inc., and Standard & Poor's rnmnrati/v

416


TABLE B-95.—Business formation and business failures, 1945-88

Year or month

1945194619471948194919501951195219531954195519561957195819591960196119621963196419651966196719681969.....197019711972197319741975197619771978197919801981198219831984198519861987

1987: JanFebMarAprMayJuneJulyAugSeptOctNovDec

1988-. JanFebMarAprMayJuneJulyAugSeptOctNov

Indexof net

businessformation(1967-100)

ioTi""83.787.786.790.889.788.896.694.690.390.297.994.590.892.694.498.299.899.3100.0108.3115.8108.8111.1119.3119.1113.2109.9120.4130.8138.1138.3129.9124.8116.4117.5121.3120.9120.4121.2

Newbusinessincorpo-rations(number)

i g'ie""112,89796,34685,64093,09283,77892,946102,706117,411139,915141,163137,112150,781193,067182,713181,535182,057186,404197,724203,897200,010206,569233,635274,267264,209287,577316,601329,358319,149326,345375,766436,170478,019524,565533,520581,242566,942600,400634,991662,047702,738685,572

Seasonally adjusted

118.1120.5122.0120.7119.8120.3120.4121.5122.8121.8122.8123.2124.0124.0124.8122.4124.3123.4122.7123.9126.6127.1126.9

55,07158,86860,24857,80256,57957,55857,50057,77357,74655,55955,90954,53955,87457,08660,49455,03758,50054,90857,27759,64956,11256,728

Business failures J

Businessfailurerate2

4.25.214.320.434.434.330.728.733.242.041.648.051.755.951.857.064.460.856.353.253.351.649.038.637.343.841.738.336.438.442.634.828.423.927.842.161.389.0110.0107.0115.0120.0102.0

Number of failures

Total

8091,1293,4745,2509,2469,1628,0587,6118,86211,08610,96912,68613,73914,96414,05315,44517,07515,78214,37413,50113,51413,06112,3649,6369,15410,74810,3269,5669,3459,91511,4329,6287,9196,6197,56411,74216,79424,90831,33452,07857,25361,61661,622

5,2875,4026,1435,7845,3695,3215,1474,6754,6665,3004,0864,4425,0055,0625,8515,1184,9584,7024,5124,9854,6004,2304,286

Liability size class

Under$100,000

7591,0033,1034,8538,7088,7467,6267,0818,07510,22610,11311,61512,54713,49912,70713,65015,00613,77212,19211,34611,34010,83310,1447,8297,1928,0197,6117,0406,6276,7337,5046,1764,8613,7123,9305,6828,23311,50915,50919,61836,55138,90839,372

3,2343,3813,8543,5903,3293,4043,3383,0463,0933,5192,6632,9213,3843,3553,9113,4963,4563,2023,1013,3303,0762,9032,911

$100,000and over

50126371397538416432530787860856

1,0711,1921,4651,3461,7952,0692,0102,1822,1552,1742,2282,2201,8071,9622,7292,7152,5262,7183,1823,9283,4523,0582,9073,6346,0608,56113,39915,82532,46020,70222,70822,250

2,0532,0212,2892,1942,0401,9171,8091,6291,5731,7811,4231,5211,6211,7071,9401,6221,5021,5001,4111,6551,5241,3271,375

Amount of current liabilities(millions of dollars)

Total

30.267.3204.6234.6308.1248.3259.5283.3394.2462.6449.4562.7615.3728.3692.8938.6

1,090.11,213.61,352.61,329.21,321.71,385.71,265.2941.0

1,142.11,887.81,916.92,000.22,298.63,053.14,380.23,011.33,095.32,656.02,667.44,635.16,955.215,610.816,072.929,268.636,808.844,724.036,369.9

3,220.73,586.03,249.53,222.52,488.53,332.42,036.11,968.22,967.23,133.11,649.35,516.33,894.14,625.53,292.03,065.62,316.52,453.44,582.82,291.23,533.01,625.62,014.9

Liability size class

Under$100,000

11.415.763.793.9161.4151.2131.6131.9167.5211.4206.4239.8267.1297.6278.9327.2370.1346.5321.0313.6321.7321.5297.9241.1231.3269.3271.3258.8235.6256.9298.6257.8208.3164.7179.9272.5405.8541.7635.1409.8790.8838.3753.6

64.769.274.368.161.261.862.757.062.068.051.253.453.763.067.959.258.253.352.262.355.755.751.5

$100,000and over

18.851.6140.9140.7146.797.1128.0151.4226.6251.2243.0322.9348.2430.7413.9611.4720.0867.1

1,031.61,015.61,000.01,064.1967.3699.9910.8

1,618.41,645.61,741.52,063.02,796.34,081.62,753.42,887.02,491.32,487.54,362.66,549.315,069.115,437.828,858.836,018.043,885.735,616.3

3,156.03,516.83,175.23,154.42,427.33,270.61,973.51,911.22,905.23,065.11,598.15,462.93,840.44,562.53,224.03,006.42,258.32,400.24,530.62,228.93,477.31,569.91,963.4

1 Commercial and industrial failures only through 1983, excluding failures of banks, railroads, real estate, insurance, holding, andfinancial companies, steamship lines, travel agencies, etc.

Data for 1984-88 based on expanded coverage and new methodology and are therefore not generally comparable with earlier data.Data for 1988 are subject to revision due to amended court filings.

2 Failure rate per 10,000 listed enterprises.Sources: Department of Commerce (Bureau of Economic Analysis) and The Dun & Bradstreet Corporation.


AGRICULTURE

TABLE B-96.—Farm income, 1929-88


Year or quarter

192919331939

19401941194219431944 .19451946194719481949

1950195119521953195419551956195719581959

19601961196219631964196519661967196819691970197119721973 ...19741975197619771978197919801981198219831984 ..19851986....1987

1986- 1I II l lIV

1987:1.I II l lIV

1988: I .||I I I

Income of farm operators from farming

Gross farm income

Total l

13.86.9

10.7

11.314.319.923.324.025.429.632.436.530.8

33.138.337.834.434.233.534.034.839.037.9

38.640.542.343.442.346.550.550.551.856.4

58.862.171.198.998.2

100.6102.9108.8128.4150.7

149.3166.3163.5153.1174.9166.2159.8169.8

150.4168.0158.1162.6

173.6162.5168.9173.7

176.4184.5158.1

Cash marketing receipts

Total

11.35.37.9

8.411.115.619.620.521.724.829.630.227.8

28.532.932.531.029.829.530.429.733.533.6

34.035.236.537.537.339.443:442.844.248.2

50.552.761.186.992.488.995.496.2

112.4131.5139.7141.6142.6136.6142.4144.0135.1138.1

134.9129.9137.8137.7

134.9134.4146.5136.6

145.3157.1151.7

Livestockand

products

6.22.84.5

4.96.59.0

11.511.412.013.816.517.115.4

16.119.618.216.916.316.016.417.419.218.9

19.019.520.220.019.921.925.024.425.528.6

29.530.535.645.841.343.146.347.659.269.2

68.069.270.369.473.069.871.576.2

68.067.877.373.0

73.377.079.675.178.275.585.4

Crops

5.12.53.3

3.54.66.58.19.29.7

11.013.113.112.4

12.413.214.314.113.613.514.012.314.214.7

15.015.716.317.417.417.518.418.418.719.6

21.022.325.541.151.145.849.048.653.262.371.772.572.367.169.574.263.661.9

66.962.160.564.7

61.657.466.961.5

67.181.666.3

Value ofinventorychanges2

-0.1-.2

.1

.3

.41.1

-.1-.4

4.0

-1.81.7

-.9

.81.2.9

-.6.5.25.6.8.0

.4

.3

.6

.6-.81.0

-.1.7.1.1

.01.4.9

3.4-1.6

3.4-1.5

1.11.95.0

-6.36.5

-1.4-10.9

6.3-2.4

28-.6

-3.8-3.3-2.3-1.9

-.3.1

-.4-1.9

-4.0-5.4

-10.0

Produc-tion

expenses

7.74.46.3

6.97.8

10.011.612.313.114.517.018.818.0

19.522.322.821.521.822.222.723.725.827.2

27.428.630.331.631.833.636.538.239.542.1

44.547.151.764.671.075.082.788.9

103.2123.3133.1139.4140.0140.4142.7134.0122.3123.5

125.4122.2121.1120.7

120.3124.1125.0124.6

127.2129.8134.1

Net farm income

Currentdollars

6.22.64.4

4.56.59.9

11.711.712.315.115.417.712.8

13.615.915.013.012.411.311.311.113.210.7

11.212.012.111.810.512.914.012.312.314.314.415.019.534.427.325.520.219.925.227.4

16.126.923.512.732.232.337.546.3

25.045.937.041.953.438.443.949.0

49.254.724.0

1982dollars3

42.122.834.8

34.547.067.077.776.578.477.769.574.854.4

57.163.558.750.147.041.640.138.144.335.2

36.338.337.836.331.938.239.934.432.735.934.233.841.869.450.543.132.029.534.934.918.828.623.512.229.929.132.939.3

22.240.432.336.3

45.932.837.241.2

41.245.319.7

1 Cash marketing receipts and inventory changes plus Government payments, other farm cash income, and nonmoney incomefurnished by farms.

2 Physical changes in end-of-penod inventory of crop and livestock commodities valued at average prices during the period.3 Income in current dollars divided by the GNP implicit price deflator (Department of Commerce).Note.—Data include net Commodity Credit Corporation loans and operator households.Source: Department of Agriculture, except as noted.

418


TABLE B-97.—Farm output and productivity indexes, 1947-88

[1977 = 100]

Year

194719481949

19501951195219531954

19551956195719581959

1960 . . . .1961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

1985198619871988 p

Farm output

Total »

586362

6163666666

6969677374

7676778079

8279838585

8492919388

9597100104111

10411811696112

11811111097

Crops2

Total 3

566461

5960626261

6363626968

7270717472

7673777980

7786879284

9392100102113

10111711788111

11810910687

Feedgrains

395750

5147504951

5454586466

6962626859

7070797578

7192889174

9196100108116

9712112267116

134123105

Foodgrains

646253

4949635751

4850476955

6660565965

6767768074

6981778691

10810710093108

121144138117129

121106106

Oilcrops

222726

2626262628

3034333936

3843444646

5355566465

6668748771

8674100105129

9911412191106

117110106

Live-stockandprod-ucts2

656467

7073747477

7979787983

8286868991

8991949495

9910010199100

9599100101104

108109107109107

110110113116

Productivity indicators

Farm output

Perunit oftotalinput

556057

5860626465

6667677473

7678788281

8483858788

8795949590

9998100101105

10111611899118

128127127

Perhour offarmwork 4

182120

2224262829

3031333939

4244465152

5659646872

7485838681

9097100104113

10912312599121

139139142

Cropproduc-tionper

acre5

576460

5959626261

6364657372

7778818381

8583868991

8896999988

9694100105113

100115116100112

120116122

1 Farm output measures the annual volume of net farm production available for eventual human use through sales from farms orconsumption in farm households.

2 Gross production.3 Includes items not included in groups shown.4 New survey-based labor productivity time series. Not comparable with data previously published.5 Computed from variable weights for individual crops produced each year.

Source: Department of Agriculture.


TABLE B-98.—Farm input use, selected inputs, 1947-87

Year

194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987

Farm populationApril *

Num-ber

(thou-sands)

25,82924,38324,194

23,04821,89021,74819,87419,019

19,07818,71217,65617,12816,592

15,63514,80314,31313,36712,954

12,36311,59510,87510,45410,307

9,7129,4259,6109,4729,264

8,8648,253

7 6,1947 6,5017 6,2417 6,0517 5,7907 5,6207 5,7875,754

5,3555,2264,986

Aspercent

oftotal

popula-tion2

17.916.616.2

15.214.213.912.511.7

11.511.110.39.89.3

8.78.17.77.16.7

6.45.95.55.25.1

4.74.54.64.54.3

4.13.8

7 2.87 2.97 2.87 2.77 2.57 2.47 2.52.4

2.22.22.0

Farm employment(thousands) 3

Total

10,38210,3639,964

9,9269,5469,1498,8648,651

8,3817,8527,6007,5037,342

7,0576,9196,7006,5186,110

5,6105,2144,9034,7494,596

4,5234,4364,3734,3374,389

4,3424,3744,1553,9573,774

3,7058 3,5528 3,4008 3,2478 3,094

2,9412,7492,734

Familywork-ers

8,1158,0267,712

7,5977,3107,0056,7756,570

6,3455,9005,6605,5215,390

5,1725,0294,8734,7384,506

4,1283,8543,6503,5353,419

3,3483,2753,2283,1693,075

3,0262,9972,8592,6892,501

2,4028 2,2678 2,1368 2,0078 1,976

1,9041,7681,742

Hiredwork-ers

2,2672,3372,252

2,3292,2362,1442,0892,081

2,0361,9521,9401,9821,952

1,8851,8901,8271,7801,604

1,4821,3601,2531,2131,176

1,1751,1611,1461,1681,314

1,3171,3771,2961,2681,273

1,3038 1,2858 1,2648 1,2408 1,118

1,037981992

Cropshar-

vested(mil-

lions ofacres) 4

355356360

345344349348346

340324324324324

324302295298298

298294306300290

293305294321328

336337345338348

352366362306348

342325302

Selected indexes of input use (1977 = 100)

Total

104104108

106106105103102

10410310098101

9998989898

9796989796

9697979898

9798100102105

103102999795

928786

Farmlabor

297285285

265251237220214

220212196182183

177167163155148

144132128124118

112108110109109

10610010010099

9696939792

858078

Farmreal

estate

106107108

109109108108108

108106105104105

103103104104104

103102104102102

10510310210099

9798100100103

10310410210197

959392

Me-chanicalpowerand

machin-ery

546268

7277818282

8384838384

8380807980

8082858686

8587869092

9698100104104

10198928884

807572

Agri-culturalchemi-cals5

151618

1921232424

2627272832

3235384346

4956666973

7581869092

8396100107123

123129118105121

123111111

Feed,seed,andlive-stockpur-

chases6

515256

5862636365

6669687377

7781838385

8689928993

9610210410799

93101100108115

114108108110106

106103108

^arm population as defined by Department of Agriculture and Department of Commerce, i.e., civilian population living on farms inrural areas, regardless of occupation. See also footnote 7.

2Total population of United States including Armed Forces overseas, as of July 1.3 Includes persons doing farmwork on all farms. These data, published by the Department of Agriculture, differ from those on

agricultural employment by the Department of Labor (see Table B-32) because of differences in the method of approach, in concepts ofemployment, and in time of month for which the data are collected.

4Acreage harvested plus acreages in fruits, tree nuts, and farm gardens.5 Fertilizer, lime, and pesticides.6Nonfarm constant dollar value of feed, seed, and livestock purchases.7 Based on new definition of a farm. Under old definition of a farm, farm population (in thousands and as percent of total

population) for 1977, 1978, 1979, 1980, 1981, 1982, and 1983 is 7,806 and 3.6; 8,005 and 3.6; 7,553 and 3.4; 7,241 and 3.2; 6,942and 3.0; 6,870 and 3.0; 7,029 and 3.0, respectively.

8 Basis for farm employment series was discontinued for 1981 through 1984. Employment is estimated for these years.

Note.—Population includes Alaska and Hawaii beginning 1960.

Sources-. Department of Agriculture and Department of Commerce (Bureau of the Census).

420


TABLE B-99.—Indexes of prices received and prices paid by farmers, 1948-88

[1977=100]

Year or month

194819491950195119521953195419551956195719581959I960196119621963196419651966196719681969197019711972197319741975197619771978197919801981198219831984 .19851986198719881987- Jan

FebMarApr . .MayJuneJulyAugSeptOctNovDec

1988- JanFebMarApr. .JayJuneJulyAugSeptOctNovDec

Prices received by farmers

Allfarmprod-ucts

6355566663565451505155535253535352545855565960626998105101102100115132134139133135142128123127138121122122125129130129127129127132127131130130130134137141144144143144145

Crops

595254616255565354525251515254555553555252505256609111710510210010511612513412112813812010710612510099100102108109108102105106120112115109110111117127133135135133136136

Live-stockandprod-ucts

655658706456524947515753535253514954605760676767771049498101100124147144143145141146136138146150141144142147148149148150152147143141147149148148151147147152153152151154

Prices paid by farmers

All

ities,services,interest,taxes,andwagerates1

3836374142404040404243434444454545474949515355586271818995100108123138150159161165163159162170158

162

164

165

165

168

172

174

Production items

Total2

4341424747444443434446464646474747485050505254576173839197100108125138148153152155151144147157142

147

148

150

152

155

160

162

Tractorsandself-pro-pelledmachin-

ery

39"4042444749515458688291100109122136152165174181178174174181172

174

174

176

176

179

179

188

Fertil-izer

555654575959595857585857575858575757565552484850525692120102100100108134144144137143135124118130116

117

117

121

121

132

132

134

Fuelsand

energy

49"4950505152535457798893100105137188213210202201201162161163153

159

165

168

161

163

166

162

Wagerates

2322222526272727282930323333343536384144485357596369798593100107117127138144148151154160166172159

i?i

173

162

162

174

179

171

Adden-dum:Aver-agefarmreal

estatevalueper

acre3

1414141618181819192122232425262729313335384042434753667586100109125145158157148146128112103106

103

106

Includes items used for family living, not shown separately.3 Average for 48 States. Annual data are for March 1 of each year through 1975, February 1 for 1976-81, April 1 for 1982-85, and

Februaryl for 1986-88.Source: Department of Agriculture.


TABLE B-100.—U.S. exports and imports of agricultural commodities, 1940-88


Year

19401941194219431944

19451946194719481949

19501951195219531954

19551956195719581959

1960 . .1961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987 . . .

Jan-Oct:19871988

Total '

05.7

122.12.1

2.3314.0353.6

2940342.831

324.2453.94.0

485.0505663

6.269646.360

737794

17721.9

21923023629.4347

41 243.336.6361378

29026.2286

22930.1

Feedgrains

(4

}*(4

4

(4

(4)h i.4.1

2.3332

3.43

6

5

889

1.1131 1

99

1 1101 53546

5260495977

989.4647381

603139

324.7

E

Foodgrains2

(4)0.1(4)\1

.1

.47

1.4151.1

61.11 1.75

61.01.0.8.9

121.41.3151.7

1.41815141 2

1413184754

6 24 7365563

7996797475

453838

3249

jcports

Oil-seedsand

prod-ucts

(4

44

0.1

(4

(4

2.3

2.32.23

4.55.46

6.678

10

1.2121 31313

19222 44357

455 1668289

9496918784

586564

5062

Cot-ton

0 2.1.1.2.1

.35.4.5.9

101.1

9.58

5

1.0.7.4

10.9.56.7

.54553

4659

13

10101 51 72 2

2923201 82 4

168

16

1 216

To-bacco

(4)01

.1

.2

.1

.24.3.2.3

3.32.33

4.34.4.3

4.444.4

.45556

55778

99

1 11412

131515151 5

1 5121 1

g10

Ani-malsand

prod-ucts

01

.81.21.3

.99.75.4

3.53.45

6

7.56

6.667.8

.87778

9101 11618

1 724273038

384239384 2

4 14552

4252

Total »

1.31.71.31.51.8

1.7232.83.12.9

405.2454.240

404.0403.94.1

383.739404.1

4.145455050

58586584

102

93110134148167

174168154166193

200214204

170175

1

Crops,fruits,

andvege-

tabfes3

(4)0.1(4)\1

.1

.1

.2

.1

.2

.2

2.22.22

.2

.2

.22

.2

.2

.23.3

.34455

56788

89

121517

162.023233 1

353636

3031

mports

Ani-malsand

prod-ucts

02

.5

.4

.3

.44.46.4

71.1

7.65

5.45

8

6

99.8

.9121 11314

161518262.2

1823233139

383.537384 1

4 24549

4 14.4

Cof-fee

0.1.2.2.3.3

.3

.5

.6

.7

.8

111.4141.515

141.41.41.21.1

1.01.01.0101.2

1.1111012

9

1212131716

172942404 2

4 229292833

334629

2621

Cocoabeansand

prod-ucts

4

4

4

4

4

(4)01

2.1

2.22.23

2

2.2.2

.2

.2

.22.2

.112.22

3223.5

56

101.412

9.9.78

1 1

141.112

9.9

Agri-culturaltrade

balance

-0.8-1.0_.l

.6

.3

.58

1.23

1 1-1 1

1 1-13_ 9

- 8

5(*)

-1.1

1.01.31.2162.3

2.12.4191.311

1.5192993

11.7

12612010214.618.0

23926.621.2195185

914.882

5912.6

1 Total includes items not shown separately.2 Rice, wheat, and wheat flour.3 Includes nuts, fruits, and vegetable preparations.4 Less than $50 million.Note.—Data derived from official estimates released by the Bureau of the Census, Department of Commerce. Agricultural commodities

are defined as (1) nonmarine food products and (2) other products of agriculture which have not passed through complex processes ofmanufacture. Export value, at U.S. port of exportation, is based on the selling price and includes inland freight, insurance, and othercharges to the port. Import value, defined generally as the market value in the foreign country, excludes import duties, ocean freight,and marine insurance.

Source: Department of Agriculture.


TABLE B-101.— Balance sheet of the farm sector, 1939-88


End of year

1939

19401941. .194219431944

19451946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974 5

19751976.197719781979

198019811982.19831984

198519861987.. ..1988 P

Assets

Total

52.6

53.761.472.982.992.1

102.0116.1127.1132.9130.3

152.9169.8166.3162.3167.0

172.5181.6191.0206.4210.2

210.9218.9226.2234.3243.3

260.3274.2288.0301.9312.9

324.0349.4393.7477.7509.0

576.1664.0731.4867.7

1,006.9

1,102.31,103.71,066.61,051.0

949.7

845.4789.4813.1850.0

Realestate

33.6

34.036.641.547.752.9

60.568.773.576.075.1

88.998.7

100.098.9

102.5

108.2116.1122.7131.5138.4

139.9146.0150.7158.9168.5

180.1190.2201.1210.8217.1

223.8240.2268.6328.6368.7

420.6499.6556.4656.1768.0

850.8851.7812.2801.8693.7

606.4554.0567.2599.0

Live-stock1

5.1

5.37.19.69.79.0

9.711.913.314.412.9

17.119.514.811.711.2

10.611.013.917.715.2

15.616.417.315.914.5

17.619.018.820.223.5

23.727.334.142.424.5

29.429.031.951.361.4

60.653.553.049.749.6

46.347.657.661.0

Other physical assets

Machin-ery andmotor

vehicles

3.1

3.34.04.95.46.5

5.45.37.4

10.112.2

14.116.717.418.418.7

19.320.220.121.822.7

22.222.523.523.924.8

26.027.429.831.332.3

34.436.639.344.253.6

63.170.176.483.393.2

99.3107.8107.9106.2102.7

92.484.478.679.0

Crops2

2.2

2.33.24.35.56.0

6.07.08.97.45.9

7.18.27.96.87.5

6.56.86.46.96.6

6.77.07.37.97.7

8.38.98.38.18.4

9.09.8

13.021.423.0

21.121.220.625.329.2

33.029.127.923.929.6

23.519.120.518.0

House-hold

equip-mentand

furnish-ings

4.2

4.14.84.84.75.2

5.57.28.18.98.4

9.610.19.59.59.7

10.09.69.69.49.2

8.78.98.88.88.4

8.48.38.89.49.6

10.010.811.912.311.2

11.712.113.816.017.2

19.420.823.024.426.1

27.830.533.335.0

Financial assets

Depos-its

andcur-

rency

3.2

3.54.25.46.67.9

9.410.29.99.69.1

9.19.49.49.49.4

9.59.49.5

10.09.2

8.78.89.29.29.6

10.010.310.911.511.9

12.413.214.014.914.0

14.514.815.215.515.9

16.216.717.418.219.8

21.124.826.427.0

U.S.savingsbonds

0.3

.4

.51.12.23.4

4.24.24.44.64.7

4.74.74.64.75.0

5.25.15.15.24.7

4.64.54.44.24.2

4.13.93.83.83.7

3.63.74.04.23.8

3.93.83.94.24.0

3.83.63.53.63.7

3.94.55.05.0

Invest-ments incooper-atives

0.8

.9

.91.01.11.2

1.41.51.71.92.1

2.32.52.72.93.0

3.23.53.73.94.2

4.54.85.05.45.6

5.96.26.56.86.4

7.27.98.99.9

10.2

11.913.213.315.918.0

19.220.421.823.224.4

24.024.424.526.0

Claims

Total

52.6

53.761.472.982.992.1

102.0116.1127.1132.9130.3

152.9169.8166.3162.3167.0

172.5181.6191.0206.4210.2

210.9218.9226.2234.3243.3

260.3274.2288.0301.9312.9

324.0349.4393.7477.7509.0

576.1664.0731.4867.7

1,006.9

1,102.31,103.71,066.61,051.0

949.7

845.4789.4813.1850.0

Realestatedebt3

6.6

6.56.46.05.44.9

4.84.95.15.35.6

6.16.77.37.88.3

9.09.9

10.411.112.1

12.914.015.216.918.9

21.223.125.227.529.4

30.532.435.439.844.9

49.955.463.972.886.8

97.5107.2111.3113.7112.4

105.995.887.483.0

Non-real

estatedebt4

3.0

3.33.53.22.92.7

2.93.54.14.95.2

6.17.47.76.87.2

7.98.08.8

10.111.5

12.012.714.215.616.4

18.119.820.820.421.2

22.325.128.033.136.7

41.647.855.063.875.7

81.288.291.892.792.0

82.271.065.967.0

Propri-etors'

equities

43.0

43.851.563.774.584.4

94.4107.8118.0122.7119.5

140.7155.7151.4147.8151.5

155.6163.8171.8185.2186.6

186.1192.2196.8201.8208.0

221.0231.3242.0253.9262.4

271.2291.9330.4404.9427.4

484.6560.8612.5731.2844.4

923.6908.2863.5844.6745.2

657.3622.6659.8700.0

1 Beginning with 1959, horses and mules are excluded.2 Non-Commodity Credit Corporation (CCC) crops held on farms plus value above loan rate for crops held under CCC.3 Includes CCC storage and drying facilities loans.4 Does not include CCC crop loans.5 Beginning 1974, data are for farms included in the new farm definition, that is, places with sales of $1,000 or more annually.Note.—Data include operator households.Beginning 1959, data include Alaska and Hawaii.Source: Department of Agriculture.


INTERNATIONAL STATISTICS

TABLE B-102.—U.S. international transactions, 1946-88

[Millions of dollars; quarterly data seasonally adjusted, except as noted. Credits ( + ), debits (-)]

Year orquarter

1946194719481949

19501951195219531954

19551956195719581959

19601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987

1986:1HIIIIV

1987:1III l lIV

1988:1II|||p

Merchandise12

Exports

11,76416,09713,26512,213

10,20314,24313,44912,41212,929

14,42417,55619,56216,41416,458

19,65020,10820,78122,27225,501

26,46129,31030,66633,62636,414

42,46943,31949,38171,41098,306

107,088114,745120,816142,054184,473

224,269237,085211,198201,820219,900

215,935223,969249,570

54,1135694656i26856,642

56,79159,86464,90268,013

75,30079,60682,306

Imports

-5,067-5,973-7,557-6,874

-9,081-11,176-10,838-10,975-10,353

-11,527-12,803-13,291-12,952-15,310

-14,758-14,537-16,260-17,048-18,700

-21,510-25,493-26,866-32,991-35,807

-39,866-45,579-55,797-70,499

-103,811

-98,185-124,228-151,907-176,001-212,009

-249,749-265,063-247,642-268,900-332,422

-338,083-368,516-409,850

-8954690'807

-92,989-95,174

-96,662-99,416

-104,567-109,205

-110,484-109,757-110,839

Net

6,69710,1245,7085,339

1,1223,0672,6111,4372,576

2,8974,7536,2713,4621,148

4,8925,5714,5215,2246,801

4,9513,8173,800

635607

2,603-2,260-6,416

911-5,505

8,903-9,483

-31,091-33,947-27,536

-25,480-27,978-36,444-67,080

-112,522

-122,148-144,547-160,280

—35,433—33861-36J21-38,532

-39,871-39,552-39,665-41,192

-35,184-30,151-28,533

Investment income3

Receipts

7721,1021,9211,831

2,0682,6332,7512,7362,929

3,4063,8374,1803,7904,132

4,6164,9995,6186,1576,824

7,4377,5288,0209,368

10,912

11,74712,70714,76421,80827,587

25,35129,28632,17942,24564,132

72,50686,41183,54977,25185,908

88,83790,110

103,756

24,35222 2482^84521,667

24,79122,42923,28933,248

26,55423,42626,830

Payments

-212-245-437-476

-559-583-555-624-582

-676-735-796-825

-1,061

-1,237-1,245-1,324-1,561-1,784

-2,088-2,481-2,747-3,378-4,869

-5,516-5,436-6,572-9,655

-12,084

-12,564-13,311-14,217-21,680-32,960

-42,120-52,329-54,883-52,376-67,419

-62,901-66,968-83,381

-17,357— 17533-15>29-16,350

-19,715-20,737-22,222-20,709

-25,395-25,366-27,167

Net

560857

1,4841,355

1,5092,0502,1962,1122,347

2,7303,1023,3842,9653,071

3,3793,7544,2944,5965,040

5,3495,0475,2735,9906,043

6,2317,2718,192

12,15315,503

12,78715,97517,96220,56531,172

30,38634,08228,66624,87518,489

25,93623,14220,375

6,9954*7156ill65,317

5,0761,6921,067

12,539

1,159-1,940

-337

Netmilitarytransac-

tions

-493-455-799-621

-576-1,270-2,054-2,423-2,460

-2,701-2,788-2,841-3,135-2,805

-2,752-2,596-2,449-2,304-2,133

-2,122-2,935-3,226-3,143-3,328

-3,354-2,893-3,420-2,070-1,653

-746559

1,528621

-1,778

-2,237-1,183

-274-243

-2,099

-3,431-4,372-2,368

-1,408— 1283-l!o76

-605

-78-179-851

-1,261

-1,033-914-934

Nettraveland

ranspor-tation

receipts

733946374230

-12029883

-238-269

-297-361-189-633-821

-964-978

-1,152-1,309-1,146

-1,280-1,331-1,750-1,548-1,763

-2,038-2,345-3,063-3,158-3,184

-2,812-2,558-3,565-3,573-2,935

-997144

-992-4,227-8,604

-10,049-9,344

-10,281

—2,456— 207C-2^407-2,410

-2,597-2,516-2,521-2,648

-2,121-1,676-1,463

Otherserv-ices,net3

310145175208

242254309307305

299447482486573

638732911

1,0371,161

1,4801,4961,7421,7591,964

2,3292,6492,9653,4064,231

4,8535,0275,6796,4596,214

7,7939,2789,3209,9089,760

9,60011,60012,035

2,8172?87C2W3,112

2,8132,8282,9833,412

3,3623,6933,491

Balanceon goods

andservices4

7,80711,6176,9426,511

2,1774,3993,1451,1952,499

2,9285,1537,1073,1451,166

5,1916,4846,1277,2449,724

8,3786,0955,8383,6933,524

5,7732,423

-1,74211,2449,392

22,9849,521

-9,488-9,875

5,138

9,46614,344

278-36,766-94,975

-100,093-123,520-140,519

29485-2962C

-31J288-33,118

-34,657-37,727-38,987-29,150

-33,817-30,988-27,776

Remit-tances,

pensions,and otherunilateral

transfers l

-2,922-2,625-4,525-5,638

-4,017-3,515-2,531-2,481-2,280

-2,498-2,423-2,345-2,361-2,448

-2,367-2,662-2,740-2,831-2,901

-2,948-3,064-3,255-3,082-3,125

-3,443-3,856-4,052-4,103

5 -7,431

-4,868-5,314-5,023-5,552-6,128

-7,593-7,460-8,956-9,480

-12,102

-15,010-15,308-13,445

-2,9724'085

-4,249-4,003

-2,967-3,125-2,980-4,373

-3,121-2,751-3,118

Balanceon

currentaccount4

4,8858,9922,417

873

-1,840884614

-1,286219

4302,7304,762

784-1,282

2,8243,8223,3874,4146,823

5,4313,0312,583

611399

2,331-1,433-5,795

7,1401,962

18,1164,207

-14,511-15,427

-991

1,8736,884

-8,679-46,246

-107,077

-115,103-138,828-153,964

-3245733'714

-35,537-37,121

-37,624-40,852-41,967-33,523

-36,938-33,739-30,894

1 Excludes military.2 Adjusted from Census data for differences in valuation, coverage, and timing.3 Fees and royalties from U.S. direct investments abroad or from foreign direct investments in the United States are excluded from

investment income and included in other services, net.4 In concept, balance on goods and services is equal to net exports and imports in the national income and product accounts (and

the sum of balance on current account and allocations of special drawing rights is equal to net foreign investment in the accounts),although the series differ because of different handling of certain items (gold, capital gains and losses, etc.), revisions, etc.


424


TABLE B-102.—U.S. international transactions, 1946-88—Continued

[Millions of dollars; quarterly data seasonally adjusted, except as noted]

Year orquarter

1946194719481949

19501951195219531954

1955.19561957. .. .19581959

I9601961196219631964

19651966196719681969

19701971197219731974

19751976197719781979

19801981198219831984

198519861987

1986- 1III l lIV

1987- 1III l lIV

1988:1IIIll '

U.S. assets abroad, net[increase/capital outflow (-)]

Total

-4,099-5,538-4,174-7,270-9,560

-5,7167321

-9>5710977

-11,585

-9,33712475

-14,497-22,874

34745

-39,70351269

-34,78561 130

-64,331

-86,118-110,951-121,153-49,777

22304

-32,636-97,991-75,987

-15,626-24,515-26,213

31 635

11,072-22,878-25,292-38,891

6,591-18,972-39,630

U.S.officialreserveassets6

623-3315

1736-266

1,758-33415

1,256480

182-86911652,2921,035

2,145607

1,535378171

1,22557053

870-1,179

2,4812,349-4158

-1,467

-8492558-375

732-1,133

-8,1555 175

-4,965-1,196

3131

-3,858312

9,149

-11516

280132

1,9563,419

323,741

1,50339

-7,380

OtherU.S.

Govern-mentassets

-1,100-910

-1,085-1,662-1,680

-1,605-1,543-2,423

2274-2,200

-1,5891884

-1,568-2,644

5 366

-3,474-4,214-3,693

4660-3,746

-5,162-5,097-6,131-5,006-5,489

-2,829-2,000

1,162

-206-211

-1,59210

67-170

2521,012

-814801

1,931

U.S.privateassets

-5,144-5,235-4,623-5,986-8,050

-5,3366347

-7,3867833

-8,206

-10,22912940

-12,925-20,388-33,643

35380-44,498-30,717

57202-59i453

-72,802100 679

-110,058-43,576

13685

-25,950-96,303

86297

-15,305-24,320

2490131 777

9,049-26,127-25,567-43,645

5,90318210

-34,181

Foreign assets in the U.S., net[increase/capital inflow ( + )]

Total

2,2942,7051,9113,2173,643

7423,6617,3799,928

12,702

6,35922,97021,46118,38834,241

15,67036,51851,31964,03638,752

58,11283,03293,74684,869

102,621

129,900221,253211,490

39,05050,12869,88462,192

33,10050,66071,65856,072

26,06665,49548,027

Foreignofficialassets

1,473765

1,2701,9861,660

134672

3,451-774

-1,301

6,90826,87910,4756,026

10,546

7,02717,69336,81633,678

-13,665

15,4974,9603,5935,8453,140

-1,19635,50744,968

2,71915,83815,7791,171

13,97710,332

61120,047

24,6705,946

-2,902

Otherforeignassets

8211,939

6411,2311,983

6074,3333,928

10,70314,002

550-3,90910,98612,36223,696

8,64318,82614,50330,35852,416

42,61578,07290,15479,02399,481

131,096185,746166,522

36,33134,29154,10461,020

19,12240,32771,04736,025

1,39559,54950,928

Alloca-tions ofspecialdrawingrights(SDRs)

867717710

l',139"

1,1521,093

Statisticaldiscrepancy

Total(sum of

the itemswith signreversed)

-1,019-989

-1,124360

-907

-457629205438

1516

219-9,779

1879-2,654

1458

5,91710,544

-2,02312,52125,431

24,98219,94236,08511,15426,760

17,83915,56618,461

9,0338,100

-8,1336,565

-6,54713,071

-4,39916,342

4,282-12,784

22,498

Of which:Seasonaladjust-ment

discrep-ancy

3,006-2,786-3,876

3,655

4,141-2,615-4,658

3,138

3,747-3,585-5,205

5 Includes extraordinary U.S. Government transactions with India.6 Consists of gold, special drawing rights, foreign currencies, and the U.S. reserve position in the International Monetary Fund (IMF).

Note.—Quarterly data for U.S. official reserve assets and foreign assets in the United States are not seasonally adjusted.



TABLE B-103.—U.S. merchandise exports and imports by principal end-use category, 1965-88

[Billions of dollars; quarterly data seasonally adjusted]

Year orquarter

19651966196719681969

19701971197219731974

1975197619771978 *1979

19801981198219831984

198519861987

1986: 1II....III.. .IV...

1987:1II....III . . .IV...

1988: III....IIP.

Exports

Total

26.529.330.733.636.4

42.543.349.471.498.3

107.1114.7120.8142.1184.5

224.3237.1211.2201.8219.9

215.9224.0249.6

54.156.956.356.6

56.859.964.968.0

75.379.682.3

Agri-cultur-

alprod-ucts

6.36.96.56.36.1

7.47.89.5

18.022.4

22.223.424.329.935.6

42.244.037.237.138.4

29.627.429.5

7.26.56.67.0

6.57.18.37.6

9.09.7

10.4

Nonagricultural products

Total

20.222.424.227.330.3

35.135.539.953.4759

84.891.496.5

112.2148.9

182.1193.1174.0164.7181.5

186.4196.6220.1

46.950.449.649.6

50.352.756.660.4

66.369.971.9

Indus-trial

suppliesand

mate-rials

7.68.28.59.6

10.4

12.310.911.816.926.2

26.728.329.733.551.6

64.663.257.452.356.0

54.058.762.8

13.616.014.914.2

14.415.316.216.9

19.720.720.8

Capitalgoodsexcept

automo-tive

8.18.99.9

11.112.4

14.715.416.922.030.9

36.639.139.846.759.2

75.182.474.369.274.3

76.579.388.1

19.119.720.420.2

19.820.823.324.1

26.427.528.7

Auto-motive

1.92.42.83.53.9

3.94.75.57.08.8

10.812.213.515.518.1

17.119.317.018.322.1

24.724.926.3

6.36.45.96.3

6.16.26.47.6

7.98.38.2

Other

2.62.93.03.23.7

4.34.55.67.6

10.0

10.711.713.516.420.1

25.328.125.324.929.1

31.133.742.9

8.08.38.49.0

10.010.510.811.7

12.313.514.3

Imports

Total

21.525.526.933.035.8

39.945.655.870.5

103.8

98.2124.2151.9176.0212.0

249.8265.1247.6268.9332.4

338.1368.5409.9

89.590.893.095.2

96.799.4

104.6109.2

110.5109.8110.8

Petro-leumand

prod-ucts

2.02.12.12.42.6

2.93.64.78.4

26.6

27.034.645.042.661.0

79.478.662.055.358.0

51.334.442.9

10.47.88.08.1

8.810.112.811.3

10.010.39.9

Nonpetroleum products

Total

19.523.424.830.633.2

36.941.951.162.177.2

71.289.7

106.9133.4151.1

170.4186.5185.6213.6274.4

286.8334.1367.0

79.183.085.087.1

87.989.391.897.9

100.599.5

101.0

Indus-trial

suppliesand

mate-rials

9.110.210.012.011.7

12.313.616.019.227.4

23.629.135.040.647.5

52.956.448.953.966.0

62.469.971.2

17.418.116.717.6

17.216.417.719.9

21.320.920.2

Capitalgoodsexcept

automo-tive

1.52.22.52.83.4

4.04.35.98.39.8

10.212.314.019.424.5

31.436.938.443.260.5

61.472.184.8

16.717.918.618.9

19.220.621.723.3

24.125.225.4

Auto-motive

0.91.82.44.05.1

5.77.69.0

10.712.4

12.116.819.425.026.5

28.130.934.043.256.6

65.178.185.2

18.019.120.620.3

21.021.021.022.2

21.821.121.6

Other

8.09.29.9

11.813.0

15016.520.223.9?75

25.331.438.648.452.6

58.062.364.373.391.4

97.9114.0125.8

26.927.929.030.2

30.631.331.432.5

33.232.333.7

1 End-use categories beginning 1978 are not strictly comparable with data for earlier periods. See Survey of Current Bus/ness, June 1988.Note.—Data are on an international transactions basis and exclude military.Source: Department of Commerce, Bureau of Economic Analysis.


TABLE B-104.—U.S. merchandise exports and imports by area, 1979-88


Item

ExportsIndustrial

countriesCanadaJapanWestern

EuropeAustralia, New

Zealand,and SouthAfrica

Other countries,except EasternEuropeOPEC2

Other3

Eastern EuropeInternational

organizationsandunallocated ..

ImportsIndustrial



Zealand,and SouthAfrica


Other 3

Eastern EuropeInternational

organizationsandunallocated

Balance (excess ofexports +)Industrial



Zealand,and SouthAfrica.. .


Other3

Eastern Europe ....International

organizationsandunallocated

1979

184,473

115,93038,69017629

54177

5,434

626301455648074

5,913

212 009

112 79739,22726260

41817

5,493

961314503951092

1,896

1 185

-27,536

3,133537

8631

12,360

-59

-33,501-30,483-3,018

4,017

1185

1980

224,269

137,15241,62620806

67,603

7,117

8294117,36865573

4,143

33249,750

127,884

42,90131216

47235

6,532

119 1355560263533

1,444

1287

-25,481

9,2681 275

10410

20,368

585

-36,194-38,234

2,0402,699

1254

1981

237,085

141,90046,01621,796

65,108

8,980

9065721,09769560

4,440

88265,063

144,322

48,25337597

52864

5,608

119 18849934692541,553

-27,978

-2,4222237

15801

12,244

3372

-28,531-28,837

3062,887

88

1982

211,198

127,25439,20320,694

59,701

7,656

8013020,65159479

3,749

65247,642

144,139

48,52337683

52900

5,033

102 4143151770897

1,066

23

-36,444

-16,8859 320

16989

6,801

2623

-22,284

-10,866-11,418

2,683

42

1983

201,820

128,35344,51221789

55,448

6,604

7042615,25655170

2,976

65268,900

159 89355,98242844

55623

5,443

107 59325282823111,413

1

-67,080

-31,54011 47021 055

-175

1 161

-37,167-10,026-27,142

1,563

64

1984

219,900

140,99453,03723241

56,867

7,849

7458313,77160812

4,290

33332,422

205 52667,63060210

72054

5,632

124 6792685297827

2,217

-112,522

-64,5321459336969

-15,187

2217

-50,096-13,081-37,015

2,073

33

1985

215,935

140,517

55,39022,145

56,015

6,967

7196811,40960,5593,258

192338,083

219,102

70,39465653

77454

5,601

117 1342268094454

1,847

-122,148

-78,5851500443*508

-21,439

1366

-45,166-11,271-33,895

1,411

192

1986

223,969

150,69056,60126,344

60,630

7,115

71235

10,47060765

2,044

368,516

245,37469,62180766

89039

5,948

121 16318894

102 2691,979

-144,547

-94,6841302054422

-28,409

1,167

-49,928-8,424

-41,504

65

1987

249,570

164,85761,09227604

68,758

7,403

8247510,70971766

2,238

409,850

259,764

73,64784,548

96,215

5,354

148 16724,367

123 8001,919

-160,280

-94,9071255556944

-27,457

2,049

-65,692-13,658-52,034

319

1988 first3 quartersat annual

rate1

316,283

204,15872,34737,428

85,559

8,824

108,38613,68594,701

3,739

441,440

278,12484,43286,629

100,698

6,365

161,15223,441

137,7112,164

-125,157

-73,9661208549201

-15,139

2,459

-52,766-9,756

-43,0101,575

1 Preliminary; seasonally adjusted.2 Algeria, Ecuador, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela.3 Latin American Republics, other Western Hemisphere, and other countries in Asia and Africa, less members of OPEC.Note.—Data are on an international transactions basis and exclude military.Source-. Department of Commerce, Bureau of Economic Analysis.


TABLE B-105.—U.S. merchandise exports, imports, and trade balance, 1970-88

[Billions of dollars; monthly data seasonally adjusted]

Year ormonth

19701971197219731974

197419751976197719781979

1980

1981198219831984198519861987

1987:JanFebMar

May!"'.!!"!June


1988:JanFebMar

t.:::::June

JulyAugSeptOct

Merchandise exports (f.a.s. value) 1

Total 2

Principal end-use commodity category

Foods,feeds,

andbev-er-

ages

In-dus-trialsup-pliesandma-teri-als

Cap-ital

goodsex-

ceptauto-mo-tive

Auto-mo-tivevehi-cles,parts,anden-

gines

Con-sum-

ergoods(non-food)

ex-ceptauto-mo-tive

Other 2

F.a.s. value 5

43244149971.999.3

99410891168123214581864

225.6

2387216.4205.6224.06 218.8

6 227.2254.1

18.419.320.220.420.321.1

22.420.921.822.123.124.2

24.524.526.926.027.526.3

26.527.528.027.7

31.330.931.524.022.324.3

1.71.71.81.92.02.1

2.42.22.22.31.82.0

2.22.52.62.62.92.7

2.93.13.02.8

61.756.761.758.557.366.7

5.14.95.35.55.45.5

5.65.65.65.56.16.5

6.66.67.77.37.17.0

7.16.97.36.6

72.767.272.073.975.886.2

6.26.66.86.96.86.5

7.67.08.07.58.18.2

8.78.68.78.89.38.5

9.19.49.49.4

15.716.820.622.921.724.6

1.91.91.91.91.92.2

1.92.02.12.12.52.3

2.12.42.72.32.42.2

2.02.82.62.5

14.313.413.312.614.217.7

1.31.31.41.41.51.5

1.61.51.61.51.61.6

1.61.81.81.81.91.9

2.02.02.11.9

20.720.524.027.335.934.6

2.32.82.92.92.63.3

3.42.62.23.23.03.5

3.12.63.43.23.84.0

3.43.43.64.5

Seneral merchandise imports (customs value) 3

Total

Principal end-use commodity category

Foods,feeds,

andbev-er-

ages

In-dus-trialsup-pliesandma-teri-als

Cap-ital

goodsex-

ceptauto-mo-tive

Auto-mo-tive

vehi-cles,

parts,anden-

gines

Con-sum-

ergoods(non-food)

ex-ceptauto-mo-tive

Other

Customs value

40045.655669.5

101.4

F.a.s. value 5

102.6985

123.51504174.82095

244.9

Customs value

2610244.02580325.7345.3365.4406.2

31.731.832.332.032.534.4

34.634.534.636.035.336.6

34.337.736.634.835.737.9

34.538.137.236.6

17.118.221.021.924.424.8

2.11.92.12.12.02.2

2.12.02.02.32.12.0

2.12.22.22.02.01.9

1.92.22.02.1

112.0107.0123.7113.9101.3111.0

8.48.48.58.18.89.1

10.210.19.5

10.39.99.8

9.510.09.69.5

10.510.2

9.710.29.49.8

35.440.959.865.171.884.5

6.26.56.76.66.67.3

7.07.17.47.47.68.0

7.58.68.47.98.19.0

7.88.98.78.1

33.340.853.566.878.285.2

6.97.36.66.86.97.2

7.07.07.17.47.37.6

6.87.67.57.26.57.4

6.67.37.97.7

39.744.960.068.379.488.7

7.17.07.27.47.27.7

7.47.47.47.37.58.1

7.58.47.87.37.68.3

7.58.58.17.8

6.56.37.89.4

10.412.1

1.0.8

l.C

LI.9

.S'5LI1.21.01.1

c'c

LI1.01.01.1

1.11.11.11.1

Gen-eralmer-chan-diseim-

ports(c.i.f.

value)4

42.448.358.973.2

108.4

110.9105.9132.5160.4186.0222.2

257.0

273.4254.9269.9346.4352.5382.3424.4

33.132.934.033.634.336.2

36.336.035.737.636.737.9

35.838.938.636.337.239.5

36.039.838.738.0

Trade balance

Ex-ports

(f.a.s.)lessim-

ports(cus-tomsval-ue)

3.2-1.5-5.7

2.4-2.0

-3.110.4

-6.7-27.2-28.9-23.1

-19.3

-22.3-27.5-52.4

-101.7-126.5-138.3-152.1

-13.3-12.5-12.1-11.6-12.3-13.3

-12.2-13.6-12.8-13.9-12.2-12.4

-9.8-13.2-9.8-8.8-8.3

-11.7

-8.0-10.6-9.2-8.9

F_x-ports

(f.a.s.)lessim-

ports(c.i.f.)

0.8-4.3-9.0-1.3-9.1

-11.43.0

-15.7-37.2-40.2-35.9

-31.4

-34.6-38.4-64.2

-122.4-133.6-155.1-170.3

-14.7-13.5-13.8-13.2-14.1-15.1

-13.9-15.1-13.9-15.6-13.6-13.8

-11.3-14.4-11.7-10.3-9.8

-13.2

-9.5-12.3-10.7-10.3

1 Department of Defense shipments of grant-aid military supplies and equipment under the Military Assistance Program are excludedfrom total exports through 1985 and included beginning 1986.2 Includes undocumented exports to Canada.3 Total arrivals of imported goods other than intransit shipments.4 C.i.f. (cost, insurance, and freight) import value at first port of entry into United States. Data for 1967-73 are estimates.5 F.a.s. (free alongside ship) value basis at U.S. port of exportation for exports and at foreign port of exportation for imports.6 Total exports are on a revised statistical month basis; end-use categories are on a statistical month basis.

Note.—Data are as reported by the Bureau of the Census adjusted to include silver ore and bullion reported separately prior to 1969.Trade in gold is included beginning 1974. Export statistics cover all merchandise shipped from the U.S. customs area, except suppliesfor the US. Armed Forces, Fjcports include shipments under Agency for International Development and Food for Peace programs as wellas other private relief shipments.

Data beginning 1974 include trade of the U.S. Virgin Islands.Source: Department of Commerce (Bureau of the Census and International Trade Administration, Office of Trade and Investment

Analysis, Trade Statistics Division).


TABLE B-106.—International investment position of the United States at year-end, 1980-87


Type of investment

Net international investment position of the United States...

U S assets abroad

U.S. official reserve assets

GoldSpecial drawing rightsReserve position in the International Monetary

FundForeign currencies

U.S. Government assets, other than official reserveassets

U S loans and other long-term assets

Repayable in dollarsOther

U.S. foreign currency holdings and U.S. short-term assets

U S private assets

Direct investment abroadForeign securities

BondsCorporate stocks

U.S. claims on unaffiliated foreigners reportedby U.S. nonbanking concerns

U.S. claims reported by U.S. banks, not includedelsewhere

Foreign assets in the United States

Foreign official assets in the United States

U S Government securities

U S Treasury securitiesOther

Other U.S. Government liabilitiesU.S. liabilities reported by U.S. banks, not in-

cluded elsewhereOther foreign official assets

Other foreign assets in the United States

Direct investment in the United StatesU.S. Treasury securitiesU.S. securities other than U.S. Treasury securi-

ties

Corporate and other bondsCorporate stocks

U.S. liabilities to unaffiliated foreigners reportedby U S. nonbanking concerns

U.S. liabilities reported by U.S. banks, not in-cluded elsewhere

1980

106.3

6071

26.8

1122.6

2910.1

638

620

5982.2

1.7

516.6

215.4627

435192

34.7

203.9

500.8

176.1

1182

111369

13.4

30414.1

324.8

83.016.1

741

9.564.6

304

121.1

1981

141.1

7198

30.1

1124.1

519.8

687

672

65.02.2

1.5

621.1

228.3634

458176

35.9

293.5

578.7

180.4

1251

11708.1

13.0

26715.5

398.3

108.718.5

751

10.764.4

306

165.4

1982

136.9

8249

34.0

11 15.3

7310.2

746

729

7091.9

1.7

716.4

207.8755

567188

28.6

404.6

688.1

189.1

1326

12497.7

13.6

25017.9

498.9

124.725.8

930

16.776.3

275

228.0

1983

89.4

8739

33.7

11 15.0

1136.3

795

778

7601.8

1.7

760.7

207.2838

577261

35.1

434.5

784.5

194.5

1370

12977.3

14.2

25517.7

590.0

137.133.8

1138

17.594.5

269

278.3

1984

3.5

8961

34.9

11 15.6

1156.7

848

829

81 11.8

2.0

776.3

211.589.1

61.8273

30.1

445.6

892.6

199.3

1430

13557.5

15.0

26115.2

693.3

164.658.2

127.3

32.794.6

31.0

312.2

1985

-110.7

9503

43.2

11 17.3

11912.9

876

858

84.11.7

1.8

819.5

230.3112.8

73.0398

29.1

447.4

1,061.0

202.6

143.4

135.77.7

15.7

26.716.7

858.4

184.683.6

206.2

82.5123.7

29.5

354.5

1986

-269.2

10714

48.5

11.18.4

11717.3

89.5

88.7

87.11.6

.8

933.4

259.6133.2

81.851.4

33.3

507.3

1,340.7

241.7

177.3

170.66.7

17.8

27.918.8

1,098.9

220.491.5

308.8

142.1166.7

26.6

451.6

1987

-368.2

1,167 8

45.8

11.110.3

11.313.1

88.4

87.6

86.01.6

.8

1,033.6

308.9146.7

91.055.7

30.1

547.9

1,536.0

283.1

219.1

211.27.9

15.0

31.817.3

1,252.9

261.978.4

344.4

171.0173.4

28.8

539.4



TABLE B-107.—International reserves, selected years, 1952-88

[Millions of SDRs; end of period]

All countries

Industrial countries

United States .CanadaAustraliaJapanNew Zealand

AustriaBelgiumDenmarkFinlandFrance

GermanyIcelandIrelandItalyNetherlands

NorwaySpainSwedenSwitzerlandUnited Kingdom .. .

Developing countries: Total1

By area:

AfricaAsia1

EuropeMiddle EastWestern Hemisphere

Memo:Oil-exporting countriesNon-oil developing countries1

1QCO

49388

38,582

24,7141944

9201 101

183

1161 133

150132686

9608

318722953

164134504

1,6671,956

10,345

17863,793

9661,1832616

16998,646

62851

52535

1722025611 1682021

251

1,0811753

256237

4,049

6,95832

35940681943

3041,045

8022,9193308

10316

2 11027721 34818052282

20308286

147 323

110282

1211255725656

16916767

2,5053564

787664

9,224

21,90878

103856054407

12204,61814536,9615201

37040

39628129642594369089

995627085

361 515

211919

2991834286,053

22001577

5,54447572,1111420

17,850

43,909133

239015,10810723

62727,4503397

16,93011904

149 596

7696445777666

6409425563

67 16382,433

438 496

254 907

3841229825,528

251731,454

5,08056114,9993481

27,071

43,735189

268916,53111354

1271110,6865487

19,31712373

183 590

868967,773105885862837912

69325114,265

1QOC

451 921

276 369

3979033486202

353943084

5,77857244,1161528

28,579

45,626255

26581867410687

1028112,5815568

20,72615726

175 553

74078138811 1904791427653

51898123,655

539 503

347 435

3365757786441

579252,298

6,04979587,1534592

26,161

58,846221

339323,63112818

1010522,0355974

22,28330070

192 068

753899,7731174245,81827197

49146142,921

19

Oct

568 648

367 926

38252120501022368897

1,903

6,65778858,5144605

22,366

47,931205

385126,14713332

1057627,0296329

18,94032186

200,723

7554108,0831623642,80226048

43489157,234

38

Nov

3689411 7731037071255

1,822

6,73480767,8484532

48,444176

360927,35713838

9552

637719,08632843

1 Includes data for Taiwan Province of China.Note.—International reserves is comprised of monetary authorities' holdings of gold (at SDR 35 per ounce), special drawing rights

(SDRs), reserve positions in the International Monetary Fund, and foreign exchange. Data exclude U.S.S.R., other Eastern Europeancountries, and Cuba (after 1960).

U.S. dollars per SDR (end of period) are: 1952 and 1962—1.00000; 1972—1.08571; 1982—1.10311; 1985—1.09842; 1986—1.22319; 1987-1.41866; and November 1988-1.36637.

Source: International Monetary Fund, "International Financial Statistics."


TABLE B-108.—Foreign exchange rates, 1967-88

[Currency units per U.S. dollar, except as noted]

Period

March 1973

196719681969

1970197119721973197419751976...197719781979

19801981198219831984..1985198619871988"

1987: 1II....IllIV

1988: 1IIIIIIV P

Period

March 1973

19671968196919701971..19721973197419751976197719781979198019811982198319841985198619871988p.

1987: 1IIIllIV

1988:1IIIllIV

Belgium(franc)

39.405

49.68949.93650.142

49.65648.59744.01938.95438.95936.79938.60835.84831.49329.342

29.23737.19445.78051.12157.74959.33644.66237.35736.790

38.14637.46338.17635.614

35.05335.72639.14137.190

Netherlands(guilder)

2.8708

3.60243.61983.6240

3.61663.49523.20972.79452.68782.52932.64482.45472.16422.0072

1.98752.49982.67192.85433.20833.31842.44842.02631.9778

2.07682.03682.07131.9189

1.88281.91762.10812.0013

Canada(dollar)

0.9967

1.07891.07761.0769

1.04441.0099.99071.0002.97801.0175.98631.06331.14051.1713

1.16931.19901.23441.23251.29631.36581.38961.32591.2306

1.33741.33271.32251.3111

1.26651.22991.21961.2068

Sweden(krona)

4.4276

5.16215.16835.1701

5.18625.10504.75704.36184.43864.15304.35794.48014.52064.2892

4.23095.06596.28387.67178.27068.60317.12726.34686.1370

6.51066.31096.44046.1246

5.99055.97076.43196.1517

France(franc)

4.5063

4.92064.95295.1999

5.52885.50985.04434.45344.81064.28764.78244.91604.50904.2567

4.22505.43966.57937.62038.73558.97996.92566.01215.9595

6.12886.02846.13455.7524

5.66995.78116.32626.0572

Switzerland(franc)

3.2171

4.32834.31634.3131

4.31064.11703.81863.16872.98042.58392.50012.40641.79061.6643

1.67721.96742.03272.10062.35002.45511.79791.49181.4643

1.54681.49231.52561.4018

1.37591.41941.56581.4949

Germany(mark)

2.8131

3.98653.99203.9251

3.64653.48293.18852.67142.58672.46132.51842.32362.00961.8342

1.81752.26312.42802.55392.84542.94192.17041.79811.7570

1.83981.80691.83931.7050

1.67611.70821.86811.7740

United Kingdom(pound) l

247.24

275.04239.35239.01

239.59244.42250.34245.25234.03222.16180.48174.49191.84212.24

227.74202.43174.80151.59133.68129.74146.77163.98178.13

154.38164.15161.74175.59

179.90184.05169.51179.10

Italy(lira)

568.87

624.09623.38627.32

627.12618.32583.68582.39650.80653.09833.55882.76849.12831.10

856.201138.581354.001519.321756.111908.881491.161297.031302.40

1307.051300.291331.211247.99

1236.271269.031386.781316.40

Japan(yen)

261.83

362.13360.55358.36

358.16347.78303.12271.30291.84296.78296.45268.62210.38219.02

226.63220.63249.06237.55237.45238.47168.35144.60128.17

153.16142.71147.07135.54

127.95125.74133.71125.16

Multilateral trade-weighted value ofthe U.S. dollar (March 1973=100)

Nominal

100.0

120.0122.1122.4

121.1117.8109.199.1101.498.5105.6103.392.488.187.4102.9116.6125.3138.3143.2112.296.992.899.997.098.792.390.090.497.693.0

Real2

100.0

98.899.293.997.393.184.283.284.8

100.8111.7117.3128.5132.0103.390.688.092.690.492.686.8

84.985.592.988.7

1 Cents per unit of foreign currency.2 Adjusted by changes in consumer prices.Source: Board of Governors of the Federal Reserve System.


TABLE B-109.—Industrial production and consumer prices, major industrial countries, 1962-88

Year or quarter

1962196319641965196619671968 .196919701971197219731974 .197519761977197819791980 .19811982198319841985198619871987-.I

||IIIIV....

1988:1II ..Ill

19621963196419651966196719681969197019711972197319741975.. ..19761977197819791980198119821983 . .19841985198619871987- 1

IIIllIV ..

1988:1II ..Ill

UnitedStates Canada Japan

EuropeanCommu-nity1

France WestGermany Italy United

Kingdom

Industrial production ( 1977= 100) 2

53.256.360.166.172.073.577.681.278.579.687.394.493.084.892.6100.0106.5110.7108.6111.0103.1109.2121.4123.7125.1129.8126.9128.2131.0133.2134.5136.0138.4

46.649.654.158.763.065.569.774.575.579.685.694.797.791.997.5100.0103.3109.7108.1108.697.9104.3116.9123.3125.1131.6129.1130.9133.2136.3137.8139.4140.5

29.232.537.739.244.252.860.870.480.182.386.899.096.786.596.1100.0106.3113.8119.0120.3120.7124.5136.1141.0140.8145.7142.0142.2146.8151.8156.5156.2159.6

55.758.162.364.967.468.573.680.584.586.490.296.897.591.097.7100.0102.3107.4106.7104.2102.9104.3106.7110.2112.5114.9112.5114.6114.7116.3117.1118.1

505660616466687579848895989198100102107106106104105105106106108106109109110111112117

56.658.263.366.967.565.571.580.685.887.590.896.796.490.598.7100.0102.7107.7108.0106.2103.1104.1107.6112.9114.9115.6113.9115.7115.9116.8117.7118.6120.9

49.654.056.158.765.670.774.877.682.682.286.294.598.389.6100.0100.0101.9108.8114.4112.6108.5105.8109.2110.4113.5118.0117.0119.2115.9119.7123.0122.2121.9

68.470.776.478.679.880.486.589.589.989.591.199.297.392.195.1100.0103.0106.999.896.498.2101.7103.1107.9109.4112.9110.9111.6113.8115.1115.2116.7116.6

Consumer prices (1982-84=100)

30.230.631.031.532.433.434.836.738.840.541.844.449.353.856.960.665.272.682.490.996.599.6103.9107.6109.6113.6111.6113.1114.4115.4116.1117.5119.1

27.427.928.429.130.231.332.534.035.136.137.940.745.250.153.858.163.369.176.185.694.8100.4104.7108.9113.4118.4116.3117.9119.3120.1121.0122.6124.0

24.726.627.729.531.132.234.035.838.540.942.947.959.066.072.178.081.384.390.995.498.099.8102.1104.2104.8104.9104.0105.3105.1105.3104.8105.5105.7

22.723.624.425.326.226.927.929.030.532.434.337.242.147.652.657.761.767.375.684.092.4100.5107.1113.8117.5121.2119.8121.0121.6122.5123.3124.7125.8

21.022.022.723.323.924.625.727.428.730.332.234.539.343.948.152.757.563.672.281.991.7100.3108.0114.3117.2121.1119.8120.9121.6122.1122.7123.9125.0

43.144.345.446.948.549.350.151.052.955.658.762.867.271.274.276.979.082.386.792.297.1100.3102.7104.9104.6105.0104.7105.0105.1105.1105.6106.2106.3

12.613.614.415.015.416.016.216.616.817.618.720.624.628.833.640.145.152.163.275.487.7100.8111.5121.0128.5134.4132.1133.4134.8137.1138.6140.0141.4

15.816.116.617.418.118.519.420.421.823.825.527.932.340.246.854.258.766.678.587.995.499.8104.8111.2114.9119.7117.9119.7120.0121.3121.9124.8127.6

1 Consists of Belgium-Luxembourg, Denmark, France, Greece, Ireland, Italy, Netherlands, United Kingdom, West Germany, Portugal, andSpain. Industrial production prior to July 1981 excludes data for Greece, which joined the EC in 1981. Data for Portugal and Spain,which became members on January 1, 1986 are excluded prior to 1982.

2 All data exclude construction. Quarterly data are seasonally adjusted.Sources: Department of Commerce (International Trade Administration, Office of Trade and Investment Analysis, Trade Statistics

Division) and Department of Labor (Bureau of Labor Statistics).

432


TABLE B-110.—Civilian unemployment rate, and hourly compensation, major industrial countries,

1960-88

[Quarterly data seasonally adjusted]

Year or quarter

19601961196219631964196519661967196819691970197119721973197419751976 ...19771978197919801981198219831984198519861987

1987: 1IIIll ..IV

1988: I ..

I l l

196019611962 . .196319641965196619671968196919701971....1972 ...19731974197519761977 ...197819791980198119821983198419851986...1987

UnitedStates Canada Japan France West

Germany Italy UnitedKingdom

Civilian unemployment rate (percent)1

5.56.75.55.75.24.53.83.83.63.54.95.95.64.95.68.57.77.16.15.87.17.69.79.67.57.27.06.2

6.66.36.05.95.75.55.5

6.56.75.55.24.43.63.43.84.54.45.76.26.25.55.36.97.18.18.37.47.57.5

11.011.911.310.59.68.9

9.69.18.88.27.97.77.9

1.71.51.31.31.21.21.41.31.21.11.21.31.41.31.41.92.02.02.32.12.02.22.42.7.2.82.62.82.9

3.03.12.82.72.72.52.5

1.51.21.41.61.21.61.62.12.72.32.52.82.92.82.94.14.55.15.36.06.47.68.38.5

10.010.410.610.8

10.910.910.810.610.610.610.7

1.1.6.6.5.4.3.3

1.31.1.6

16.7.7

1.63.43.43.53.33.02.94.15.87.17.47.57.06.9

6.86.97.07.06.97.06.9

3.73.22.82.42.73.53.73.43.53.53.23.33.83.73.13.43.94.14.14.44.44.95.45.95.96.07.57.9

7.67.88.08.17.97.97.8

2.22.02.73.32.52.12.33.33.23.13.13.94.23.23.14.65.96.46.35.47.0

10.511.311.911.711.211.210.3

11.010.610.09.59.08.68.1

Manufacturing hourly compensation in U.S. dollars ( 1977= 100) 2

36.537.639.040.241.942.744.646.950.253.757.460.964.268.876.285.192.1

100.0108.2118.6132.4145.2157.5162.4168.0176.4183.0186.9

30.129.628.929.831.032.835.537.640.543.848.854.359.463.775.082.597.3

100.0100.3107.6119.3133.9143.8152.8152.3151.3155.6171.5

6.67.78.89.8

11.012.413.615.317.821.325.330.239.854.566.476.081.9

100.0137.0139.2143.2157.6146.9158.6163.5170.1252.7298.3

15.116.618.420.021.823.625.026.830.230.732.336.544.157.563.487.490.4

100.0123.4148.3172.9155.4152.4145.2137.8145.3196.7233.6

10.512.213.914.816.117.619.120.221.724.130.535.943.459.169.179.984.2

100.0124.8147.0160.7138.5134.8134.8126.9129.9183.7230.6

11.913.215.618.520.621.922.925.427.130.836.843.152.366.474.095.089.5

100.0119.1143.1165.3153.8155.4164.4159.1160.9212.7259.0

24.526.127.528.730.533.436.136.734.237.343.250.960.267.377.097.391.4

100.0128.3169.0224.7224.4212.0196.9185.6192.4233.7279.6

1 Civilian unemployment rates, approximating U.S. concepts. Quarterly data for France, West Germany, and United Kingdom should beviewed as less precise indicators of unemployment under U.S. concepts than the annual data. Many Italians reported as unemployed did.. .not actively seek work in the past 30 days, and they have been excluded for comparability with U.S. concepts. Inclusion of such personswould about double the unemployment rate for Italy through 1985, and increase it to 11-12 percent for 1986-88. There are breaks inthe series for Italy and West Germany. Based on the former series, the rate for West Germany for 1983 was 7.4 percent and the ratefor Italy for 1986 was 6.3 percent.

2 Hourly compensation in manufacturing, U.S. dollar basis. Data relate to all employed persons (wage and salary earners and the self-employed) in the United States and Canada, and to all employees (wage and salary earners) in the other countries. For France andUnited Kingdom, compensation adjusted to include changes in employment taxes that are not compensation to employees, but are laborcosts to employers.



TABLE B-lll.—Growth rates in real gross national product, 1961-88

[Percent change]

Area and country

OECD countries2

United StatesCanadaJapan

European Community 3

FranceWest GermanyItalyUnited Kingdom

Communist countries 4

U S S REastern EuropeChina

1961-65annual

average

5.3

465.3

124

49

594.7483.2

4.4

4839

2

1966-70annual

average

4.6

304.6

110

4 6

544.2662.5

5.0

503883

1971-75annual

average

3.0

225.243

29

402.1242.1

4.2

314.955

1976-82annualaverage

3.3

232.645

30

312.3291.3

2.7

211.262

1983

2.7

363.232

15

71.9103.5

2.7

331891

1984

4.7

686.351

24

133.3322.1

2.3

143.6

120

1985

3.2

344.647

24

171.9283.9

2.3

88

120

1986

2.8

283.225

26

212.3292.9

4.1

393.075

1987

3.1

344.044

27

231.8313.6

U

7.6

95

1988 »

3.0

384.154

25

282.93.13.5

(5)

202.190

1 Estimates.2 OECD (Organization for Economic Cooperation and Development) includes Australia, Austria, Belgium, Denmark, Finland, France,

West Germany, Greece, Iceland, Ireland, Italy, Luxembourg, Netherlands, New Zealand, Norway, Portugal, Spain, Sweden, Switzerland,Turkey, and United Kingdom, not shown separately.

3 Includes Belgium, Denmark, Greece, Ireland, Luxembourg, Netherlands, Portugal, and Spain, not shown separately.4 Includes North Korea and Yugoslavia, not shown separately.5 Not available.

Sources: Department of Commerce, International Monetary Fund, Organization for Economic Cooperation and Development, and Councilof Economic Advisers.

o

434U.S. GOVERNMENT PRINTING OFFICE : 1989-O-JKT NO: 223-795 QL 3Digitized for FRASER

http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

ERP1989 Appendixes 2

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