Business Statistics of the United States, 2006

Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regiona Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Poverty State and Regiona Construction Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Region Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regiona Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regional Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Poverty State and Regiona Construction Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spendi Labor Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Re Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regiona Industries TH Manufacturing DITION Services Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Region Manufacturing Services Industries Edited by Cornelia J. Strawser Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Region Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regional Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Regiona Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor ™ Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Region Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital Productivity Debt Energy Construction Income Distribution Poverty State and Regiona Manufacturing Services Industries Wages Taxes Investment Saving Output Prices Profits Government Spending Labor Credit Money Capital International Trade and Finance Productivity Debt Energy Construction Income Distribution Poverty State and Region Manufacturing Services Industries

B USINESS S TATISTICS OF THE

U NITED S TATES

PATTERNS OF ECONOMIC CHANGE 11 E 2006

BERNAN PRESS

Business Statistics of the United States Patterns of Economic Change 11th Edition, 2006

Business Statistics of the United States Patterns of Economic Change 11th Edition, 2006 Editor Cornelia J. Strawser Associate Editor Mark Siegal

BERNAN PRESS

© 2006 Bernan Press, an imprint of Bernan Associates, a division of the Kraus Organization Limited. No part of this publication may be reproduced, stored in a retrieval system, or transmitted, in any form or by any means, electronic, mechanical, photocopying, recording, or otherwise, without the prior written permission of the copyright holder. Bernan Press does not claim copyright in U.S. government information. ISBN: 1-59888-009-8 ISSN: 1086-8488 Printed by Automated Graphic Systems, Inc., White Plains, MD, on acid-free paper that meets the American National Standards Institute Z39-48 standard. 2007 2006 BERNAN PRESS 4611-F Assembly Drive Lanham, MD 20706 800-274-4447 email: [email protected] www.bernanpress.com

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ACKNOWLEDGEMENTS ...........................................................................................................................................xiii PREFACE ....................................................................................................................................................................xv ARTICLE—“NEW DATA FOR THE U.S. ECONOMY” ................................................................................................xix ARTICLE—“USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY” ...................................................xxvii SPECIAL NOTES—STATISTICAL ISSUES AND PITFALLS ......................................................................................xxxvi GENERAL NOTES......................................................................................................................................................xlii

PART A: THE U.S. ECONOMY.......................................................................................................1 CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS .....................................................3 Section 1a: Gross Domestic Product: Values, Quantities, and Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Figure 1-1: Output Per Capita . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 TABLES 1-1: Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4 1-2: Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .5 Figure 1-2: Current-Dollar and Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 Figure 1-3: Percent Changes in Current-Dollar and Real GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .6 1-3: Contributions to Percent Change in Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .7 1-4: Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases . . . . . . . . . . . . . . . . .8 1-5: Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases . . . . . . . . . . . . . . . . . . . .9 1-6: Final Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .10 1-7: Per Capita Product and Income and U.S. Population . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .11 1-8: Composite Indexes of Economic Activity and Selected Index Components . . . . . . . . . . . . . . . . . . . . . . . .12 Section 1b: Income and Value Added . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 Figure 1-4: Factor Income by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .13 TABLES 1-9: Relation of Gross Domestic Product, Gross and Net National Product, National Income, and Personal Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .14 Figure 1-5: Difference Between GNP and GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .16 1-10: Gross Domestic Income by Type of Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .17 1-11: National Income by Type of Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .19 1-12: Gross and Net Value Added of Domestic Corporate Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .21 1-13: Gross Value Added of Nonfinancial Domestic Corporate Business in Current and Chained Dollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .22 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .23

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION .................................................................35 Figure 2-1: Capacity Utilization: Total Manufacturing and High-Tech . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .35 TABLES 2-1: Industrial Production Indexes by Market Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36 2-2: Industrial Production Indexes by NAICS Industry Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .40 2-3: Capacity Utilization by NAICS Industry Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .43 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY .............................................................................................49 Section 3a: Household and Family Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 Figure 3-1: Median and Mean Household Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .49 TABLES 3-1: Median Household Income and Median Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .50 3-2: Median Income of Households by Race and Hispanic Origin Using 2- and 3-Year Averages . . . . . . . . .51 3-3: Median Family Income by Type of Family . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .52 3-4: Shares of Aggregate Income Received by Each Fifth and Top 5 Percent of Households . . . . . . . . . . . . .53 3-5: Shares of Aggregate Income Received by Each Fifth and Top 5 Percent of Families . . . . . . . . . . . . . . . . .54

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Section 3b: Poverty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55 Figure 3-2: Poverty Rates: Total, Children, and Seniors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .55 TABLES 3-6: Average Poverty Thresholds by Family Size . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .56 3-7: Poverty Status by Type of Family, Race, and Hispanic Origin . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .57 3-8: Poverty Status of People by Sex and Age . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .61 3-9: Poverty Status of People Inside and Outside Metropolitan Areas, and People In and Near Poverty . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .62 3-10: Poor People 16 Years and Over by Work Experience . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .63 Section 3c: Alternative Measures and State Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64 Figure 3-3: Median Household Income, Official and Alternative . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .64 TABLES 3-11: Median Household Income and Poverty Rates for People, Based on Alternative Definitions of Income . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .65 Figure 3-4: Poverty Rate: Official, Alternative, and NAS-Based Definitions of Income . . . . . . . . . . . . . . . . . . . . . . . . .66 3-12: Official and National Academy of Sciences (NAS)-Based Poverty Rates . . . . . . . . . . . . . . . . . . . . . . . . .67 3-13: Comparison of NAS-Based and Official Poverty Rates by Selected Characteristics, 2003 . . . . . . . . . . .68 3-14: Median Income and Poverty Rates by State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .69 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .70

CHAPTER 4: CONSUMER INCOME AND SPENDING ................................................................................................75 Figure 4-1: Personal Saving Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .75 TABLES 4-1: Personal Income and Its Disposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .76 4-2: Personal Consumption Expenditures: Current Dollars, Constant Dollars, and Price Indexes . . . . . . . . . .78 4-3: Personal Consumption Expenditures by Major Type of Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .79 4-4: Chain-Type Quantity Indexes for Personal Consumption Expenditures by Major Type of Product . . . .81 4-5: Personal Consumption Expenditures by Type of Expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .83 Figure 4-2: Personal Consumption Expenditures by Type of Expenditure . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .84 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .85

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES ...................................................89 Figure 5-1: National Saving, Investment, and Borrowing . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .89 TABLES 5-1: Saving and Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .90 5-2: Gross Private Fixed Investment by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .92 Figure 5-2: Private Fixed Investment by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .94 5-3: Real Gross Private Fixed Investment by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .95 5-4: Chain-Type Quantity Indexes for Private Fixed Investment by Type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .97 5-5: Current-Cost Net Stock of Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .99 5-6: Chain-Type Quantity Indexes for Net Stock of Fixed Assets . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .100 5-7: Inventories to Sales Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .101 Figure 5-3: Private Nonfarm Inventory/Sales Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .102 5-8: Manufacturing and Trade Sales and Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .103 5-9: Real Manufacturing and Trade Sales and Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .104 5-10: Capital Expenditures, 1996–2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .105 5-11: Capital Expenditures for Structures and Equipment for Companies with Employees by Major NAICS Industry Sector, 1998–2003 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .106 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .108

CHAPTER 6: GOVERNMENT....................................................................................................................................113 Section 6a: Federal Government in the National Income and Product Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113 Figure 6-1: Federal Government Saving and Dis-Saving . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .113 TABLES 6-1: Federal Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .114 6-2: Federal Government Consumption Expenditures and Gross Investment . . . . . . . . . . . . . . . . . . . . . . . . .116 6-3: Federal Government Defense and Nondefense Consumption Expenditures by Type . . . . . . . . . . . . . . .117 6-4: National Defense Consumption Expenditures and Gross Investment: Selected Detail . . . . . . . . . . . . . .118

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6-5: Federal Government Output, Lending and Borrowing, and Net Investment . . . . . . . . . . . . . . . . . . . . . . .119 6-6: Chain-Type Quantity Indexes for Federal Government Defense and Nondefense Consumption Expenditures and Gross Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .120 6-7: Chain-Type Quantity Indexes for National Defense Consumption Expenditures and Gross Investment: Selected Detail . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .121 Section 6b: State and Local Government in the National Income and Product Accounts . . . . . . . . . . . . . . . . . . . . . .122 Figure 6-2: State and Local Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .122 TABLES 6-8: State and Local Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .123 6-9: State and Local Government Consumption Expenditures and Gross Investment . . . . . . . . . . . . . . . . . .125 6-10: State and Local Government Output, Lending and Borrowing, and Net Investment . . . . . . . . . . . . . .126 6-11: Chain-Type Quantity Indexes for State and Local Government Consumption Expenditures and Gross Investment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .127 6-12: State Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .128 6-13: Local Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .130 6-14: State Government Consumption Expenditures and Gross Investment by Function . . . . . . . . . . . . . . .132 6-15: Local Government Consumption Expenditures and Gross Investment by Function . . . . . . . . . . . . . . .133 Section 6c: Federal Government Budget Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .134 Figure 6-3: Defense Spending as a Percent of GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .134 TABLES 6-16: Federal Government Receipts and Outlays by Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .135 6-17: Federal Government Debt by Fiscal Year . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .138 Section 6d: Government Output and Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .139 Figure 6-4: Government Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .139 TABLES 6-18: Chain-Type Quantity Indexes for Government Output . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .140 6-19: Government Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .141 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .142

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE ................................................................................................149 Section 7a: Foreign Transactions in the National Income and Product Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .149 Figure 7-1: Receipts, Payments, and Balance on Current Account . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .149 TABLES 7-1: Foreign Transactions in the National Income and Product Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . .150 7-2: Chain-Type Quantity Indexes for Exports and Imports of Goods and Services . . . . . . . . . . . . . . . . . . . .151 7-3: Chain-Type Price Indexes for Exports and Imports of Goods and Services . . . . . . . . . . . . . . . . . . . . . . .152 7-4: Exports and Imports of Selected NIPA Types of Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .153 7-5: Chain-Type Quantity Indexes for Exports and Imports of Selected NIPA Types of Product . . . . . . . . .154 Section 7b: U.S. International Transactions Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .155 Figure 7-2: Balance on Current Account and Financial Inflows and Outflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .155 TABLES 7-6: U.S. International Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .156 7-7: Foreigners’ Transactions in Long-Term Securities with U.S. Residents . . . . . . . . . . . . . . . . . . . . . . . . . . . .162 7-8: International Investment Position of the United States at Year-End . . . . . . . . . . . . . . . . . . . . . . . . . . . . .164 Section 7c: Exports and Imports . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .165 Figure 7-3: Foreign Trade Balances on Goods and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .165 TABLES 7-9: U.S. Exports and Imports of Goods and Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .166 7-10: U.S. Exports of Goods by End-Use and Advanced Technology Categories . . . . . . . . . . . . . . . . . . . . . . .167 7-11: U.S. Imports of Goods by End-Use and Advanced Technology Categories . . . . . . . . . . . . . . . . . . . . . . .168 7-12: U.S. Exports and Imports of Goods by Principal End-Use Category in Constant Dollars . . . . . . . . . . .169 7-13: U.S. Exports of Goods by Selected Regions and Countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .170 7-14: U.S. Imports of Goods by Selected Regions and Countries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .172 7-15: U.S. Exports of Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .174 7-16: U.S. Imports of Services . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .175 7-17: U.S. Export and Import Price Indexes by End-Use Category . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .176 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .177

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CHAPTER 8: PRICES .................................................................................................................................................187 Figure 8-1: Inflation Indicators . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .187 TABLES 8-1: Consumer Price Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .188 Figure 8-2: Consumer Prices: All Items, Medical Care, and Apparel . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .193 8-2: Alternative Measures of Total and Core Consumer Prices: Index Levels . . . . . . . . . . . . . . . . . . . . . . . . . .194 8-3: Alternative Measures of Total and Core Consumer Prices: Inflation Rates . . . . . . . . . . . . . . . . . . . . . . . .195 8-4: Producer Price Indexes and Purchasing Power of the Dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .196 8-5: Producer Price Indexes by Major Commodity Groups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .201 8-6: Producer Price Indexes for the Net Output of Selected NAICS Industry Groups . . . . . . . . . . . . . . . . . .202 8-7: Prices Received and Paid by Farmers . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .203 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .204

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS ....................................................................211 Section 9a: Employment Cost Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .211 Figure 9-1: Changes in Wages and Salaries and in Benefit Costs, Private Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . .211 TABLES 9-1: Employment Cost Indexes—Total Compensation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .212 9-2: Employment Cost Indexes—Wages and Salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .213 9-3: Employment Cost Indexes—Benefit Costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .214 Section 9b: Productivity and Related Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .215 Figure 9-2: Change in Labor Productivity, Nonfarm Business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .215 TABLE 9-4: Productivity and Related Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .216 Section 9c: Profits by Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .218 Figure 9-3: Corporate Profits with IVA by Major Sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .218 TABLES 9-5: Corporate Profits with Inventory Valuation Adjustment by Industry Group (SIC Basis) . . . . . . . . . . . .219 9-6: Corporate Profits with Inventory Valuation Adjustment by Industry Group (NAICS Basis) . . . . . . . . .221 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .222

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS .......................................................................................227 Section 10a: Labor Force, Employment, and Unemployment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .227 Figure 10-1: Labor Force Participation Rate and Employment/Population Ratio . . . . . . . . . . . . . . . . . . . . . . . . . . . . .227 Figure 10-2: Unemployment Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .227 TABLES 10-1: Civilian Population and Labor Force . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .228 10-2: Civilian Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .229 10-3: Civilian Employment and Unemployment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .230 10-4: Unemployment Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .231 10-5: Unemployment Rates and Related Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .232 10-6: Insured Unemployment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .233 Section 10b: Payroll Employment, Hours, and Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .234 Figure 10-3: Total Nonfarm Payroll Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .234 TABLES 10-7: Nonfarm Payroll Employment by NAICS Supersector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 235 10-8: Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector . . . . . .237 Figure 10-4: Average Weekly Hours, Selected Industries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .238 10-9: Average Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .239 10-10: Indexes of Aggregate Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .240 10-11: Average Hourly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .241 10-12: Average Weekly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .242 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .243

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CHAPTER 11: ENERGY ............................................................................................................................................253 Figure 11-1: Energy Consumption and Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .253 TABLES 11-1: Energy Supply and Consumption . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .254 11-2: Energy Consumption per Dollar of Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . .255 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .256

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS ...................................................................257 Figure 12-1: Federal Funds Rate and 10-Year Treasury Securities Rate . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .257 TABLES 12-1: Money Stock Measures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .258 12-2: Selected Components of the Money Stock . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .259 12-3: Aggregate Reserves of Depository Institutions and Monetary Base . . . . . . . . . . . . . . . . . . . . . . . . . . . . .260 12-4: Commercial Banks: Bank Credit and Selected Liabilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .261 Figure 12-2: Debt as a Percent of GDP . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .263 12-5: Credit Market Debt Outstanding, By Borrower and Lender . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .264 Figure 12-3: Ratios of Household Debt Service and Financial Obligations to Personal Disposable Income . . . . . . .267 12-6: Household Assets, Liabilities, Net Worth, Financial Obligations, and Delinquency Rates . . . . . . . . . . .268 12-7: Mortgage Debt Outstanding . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .270 12-8: Consumer Credit . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .271 12-9: Selected Interest Rates and Bond Yields . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .272 Figure 12-4: S&P Composite Price Index and OFHEO House Price Index . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .274 12-10: Common Stock Prices and Yields; Existing House Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .275 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .276

CHAPTER 13: INTERNATIONAL COMPARISONS ....................................................................................................285 Figure 13-1: Real GDP Per Capita, United States and Japan . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .285 TABLES 13-1: International Comparisons: Growth Rates in Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . .286 13-2: International Comparisons: Real GDP Per Capita . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .287 13-3: International Comparisons: Real GDP Per Employed Person . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .288 13-4: International Comparisons: Consumer Price Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .289 13-5: International Comparisons: Unemployment Rates and Civilian Labor Forces . . . . . . . . . . . . . . . . . . . .290 Figure 13-2: International Value of the U.S. Dollar . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .291 13-6: Exchange Rates . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .292 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .293

PART B: INDUSTRY PROFILES...................................................................................................297 CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE.......................................................................................299 Article—“The Structure of U.S. Industry: An Introduction to the North American Industry Classification System (NAICS)” . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .299 TABLE 14-1: NAICS Industry Definitions: With Rough Derivation from SIC . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .301

CHAPTER 15: PRODUCT AND INCOME BY INDUSTRY..........................................................................................309 Figure 15-1: Output Change by NAICS Industry Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .309 TABLES 15-1: Gross Domestic Product (Value Added) by SIC Industry Group, 1987–2000 . . . . . . . . . . . . . . . . . . . . .310 15-2: Value Added (Gross Domestic Product) by NAICS Industry Group, in Current Dollars . . . . . . . . . . .311 15-3: Value Added (Gross Domestic Product) by NAICS Industry Group, in Constant Dollars . . . . . . . . . .312 15-4: Gross Domestic Factor Income by NAICS Industry Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .313 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .314

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CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY....................................................317 Figure 16-1: Net New Nonfarm Payroll Jobs by Major NAICS Industry Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .317 TABLES 16-1: Nonfarm Employment by NAICS Sector and Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .318 16-2: Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . .324 16-3: Average Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .326 16-4: Average Hourly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .328 16-5: Average Weekly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .330 16-6: Indexes of Aggregate Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .332 16-7: Indexes of Aggregate Weekly Payrolls of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .334 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .336

CHAPTER 17: KEY SECTOR STATISTICS..................................................................................................................337 Figure 17-1: New Orders for Durable Goods . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .337 TABLES 17-1: Petroleum and Petroleum Products—Prices, Imports, Domestic Production, and Stocks . . . . . . . . . . .338 17-2: New Construction Put in Place . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .339 17-3: Housing Starts and Building Permits; New House Sales and Prices . . . . . . . . . . . . . . . . . . . . . . . . . . . . .341 17-4: Manufacturers’ Shipments . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .342 17-5: Manufacturers’ Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .347 17-6: Manufacturers’ New Orders . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .350 17-7: Manufacturers’ Unfilled Orders, Durable Goods Industries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .352 17-8: Motor Vehicle Sales and Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .354 17-9: Retail and Food Services Sales . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .356 17-10: Retail Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .359 17-11: Merchant Wholesalers—Sales and Inventories . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .360 17-12: Selected Service Industries—Receipts of Taxable Firms, 1986–1998, by SIC Industry . . . . . . . . . . . . .361 17-13: Selected Service Industries—Revenue of Tax-Exempt Firms, 1986–1998, by SIC Industry . . . . . . . . .361 17-14: Selected Service Industries—Revenue, 1998–2003, by NAICS Industry . . . . . . . . . . . . . . . . . . . . . . . . .362 17-15: Selected Service Industries—Revenue—Total and E-Commerce, 1998–2003, by NAICS Industry . . .363 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .364

PART C: HISTORICAL DATA ......................................................................................................373 CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948............................................................................................375 Figure 18-1: Output per Capita . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .375 Figure 18-2: Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .377 TABLES 18-1: National Income and Product Accounts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .378 18-2: NIPA Data on Real Output, Prices, and Employment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .380 18-3: Fixed Assets: Current-Cost Values and Quantity Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .382 18-4: Price and Production Indexes and Labor Force Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .384 18-5: Federal Budget . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .386 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .387

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES.................................................................389 TABLES 19-1: Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .389 19-2: Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .393 19-3: Contributions to Percent Change in Real Gross Domestic Product . . . . . . . . . . . . . . . . . . . . . . . . . . . . .394 19-4: Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases . . . . . . . . . . . . . .398

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19-5: Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases . . . . . . . . . . . . . . . . .402 19-6: Personal Income and Its Disposition . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .406 19-7: Inventories to Sales Ratios . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .410 19-8: Federal Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .414 19-9: State and Local Government Current Receipts and Expenditures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .422 19-10: U.S. International Transactions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .430 19-11: Productivity and Related Data . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .436 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .444

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES....................................................................445 TABLES 20-1: Industrial Production and Capacity Utilization . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .445 20-2: Summary Consumer and Producer Price Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .455 20-3: Summary Labor Force, Employment, and Unemployment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .465 20-4: Nonfarm Payroll Employment, Hours, and Earnings . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .475 20-5: Money Stock, Reserves, and Monetary Base . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .485 20-6: Interest Rates, Bond Yields, and Stock Price Indexes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .493 20-7: Composite Indexes of Economic Activity and Selected Index Components . . . . . . . . . . . . . . . . . . . . . .503 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .511

PART D: REGIONAL AND STATE DATA .....................................................................................513 CHAPTER 21: REGIONAL AND STATE DATA ..........................................................................................................515 Figure 21-1: Per Capita Personal Income, United States and Selected States . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .515 TABLES 21-1: Gross Domestic Product by Region and State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .516 21-2: Personal Income and Employment by Region and State . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .521 Notes and Definitions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .581

INDEX ........................................................................................................................................585

ACKNOWLEDGEMENTS

This volume would not have been possible without the knowledge, experience, judgment, and technical and organizational skills of Associate Editor Mark Siegal, who researched and compiled each data table and graph in this book with unfailing intelligence and efficiency. Bernan’s editorial and production departments, under the overall direction of Tamera Wells-Lee, did the copyediting, layout, and graphics preparation. Jo A. Wilson prepared the layout and graphics, assisted by Rebecca Zayas. Shana Hertz served as the lead copyeditor. Shana,

Jo, and Rebecca capably handled all editorial and production aspects of this edition. Also, thanks to Katherine DeBrandt, who worked on previous editions of Business Statistics, for her support and guidance as Bernan’s data analyst team leader. Finally, special thanks are due to the many federal agency personnel who, as always, responded generously to our frequent need for assistance in obtaining data and background information.

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PREFACE

Business Statistics of the United States: Patterns of Economic Change, 11th Edition, 2006 is a basic desk reference for everyone requiring statistics on the U.S. economy. It contains about 3,500 economic time series in all, portraying the period since World War II in comprehensive detail, and, in the case of 144 key statistics, going back to 1929. The data are predominantly from federal government sources. Of equal importance to the data are the extensive background notes that enable users to understand the data, use them appropriately, and, if desired, seek additional information from the source agencies.

recent quarterly or monthly data. This enables easy calculation of growth rates for periods or subperiods and more flexible comparisons of recent values with historical data.

THE 2006 EDITION

In both Part A and Part C, the presentations begin with the national income and product accounts, or NIPAs. The NIPAs comprise a comprehensive, thorough, and internally consistent data set. They measure the value of the total output of the U.S. economy (the gross domestic product, or GDP) and factor that value into its quantity, or “real,” and price components. They show how output is distributed among consumers, business investors, government, and foreign customers, and how the income generated in producing that output is distributed between labor and capital.

Business Statistics: 2006, like the 2005 and 2004 editions, provides a rich, deep, and comprehensive picture of the American economy. The subtitle introduced with the 2004 edition—Patterns of Economic Change—indicates the increased resources made available for analyzing the economic history of the past half-century and more, for observing past trends, and for providing the basis for projecting such trends into the future.

However, historical data at a higher frequency than annual are required for many purposes, such as: comparison of activity before and after business cycle turning points, or observation of the effects of the outbreak or the end of war. For the main series presented in Part A, historical quarterly or monthly data are presented in Part C, all the way back to the beginning of the postwar period where available.

• Whereas editions prior to 2004 typically presented data for only the latest 30 years, Business Statistics now presents data for the entire half-century since the end of World War II, with summary data covering the years 1929–1948. This enables the user to refer to earlier periods of depression, war, recession, expansion, and cycles of inflation and disinflation. • New data using the new North American Industry Classification System give a much clearer picture of the most dynamic sectors of the “new economy.”

Production estimates for the “industrial” sectors of the economy—manufacturing, mining, and utilities—follow the presentation of the overall accounts.

As always, each table in the 2006 edition has been updated through the latest full year for which data were available (usually 2004) and all historical revisions to the data available as of November 2005 have been incorporated.

Following those, there is a chapter on prices; two chapters that are concerned with the compensation of labor and capital inputs and the amount and productivity of labor input; one chapter on energy inputs into production and consumption; and one chapter on money and financial markets.

THE PLAN OF THE BOOK The history of the U.S. economy in the period since World War II is told in the major U.S. government sets of statistical data: the national income and product accounts compiled by the Bureau of Economic Analysis (BEA); the data on labor force, employment, hours, earnings, and productivity compiled by the Bureau of Labor Statistics (BLS); the price indexes collected by BLS; and the financial market data compiled mainly by the Board of Governors of the Federal Reserve System (FRB). All of these sets exist in both annual and either monthly or quarterly form dating from shortly after the end of World War II—beginning in 1946, 1947, or 1948. In Part A, Business Statistics presents all annual values for major indicators and their significant components back to the earliest postwar year available, along with

Then, more detail is presented for the final demand components of production. GDP by definition consists of the sum of consumption expenditures, business investment, government purchases of goods and services, and exports minus imports—the elementary economics blackboard equation “GDP = C + I + G + X – M.” Chapters on each of those demand components are presented in Part A.

While GDP is initially defined and measured by adding up its final demand categories, this output is produced in industries—some in the old-line heavy industries such as manufacturing, mining, and utilities, but an increasing share in the huge and heterogeneous group known as “service-providing” industries. Part A gives a number of summary measures of activity classified by industry or industrial sector—industrial production, profits, and employment-related data. Industry data are presented in more detail in Part B. The user will not, however, find the same degree of historical continuity as in Part A. The pace of technological and organizational change that the American economy has experienced over the past half-century has been so rapid that the statistical industry definitions have had difficulty xv

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keeping up. It has proved impossible in many cases to produce historical data series that cover the entire postwar period and also meaningfully reflect the detailed industrial structure of the economy as it exists today. The industries that were used to categorize data during most of the postwar period were originally defined in the 1930s and modified only modestly since then. They do not provide an adequate framework for analyzing economic activity in the twenty-first century. An up-to-date system called the North American Industry Classification System (NAICS) was put into effect beginning in 1997, and it has now been incorporated in nearly all of the government’s statistical series. However, this system required breaks with the past at many disaggregated reporting levels, and data collected on the earlier Standard Industrial Classification system (SIC) are, in many areas, not easily convertible to the new system. Different statistical agencies have dealt with this problem in different ways, and Business Statistics provides both detailed information for recent data and as much historical comparability as possible. For industrial production, the Federal Reserve Board has been able to carry estimates on the NAICS basis back to at least 1972 (1967 for some higher-level aggregates); these are shown in Chapters 2 and 20. The Bureau of Labor Statistics has calculated employment and related data back to 1939 for NAICS “supersectors,” and these are shown in Chapters 10 and 18. On the other hand, the Census Bureau’s capital expenditures survey gives data by NAICS industries beginning only in 1998 (Chapter 5). In Part B, Business Statistics first presents a general description of NAICS and its differences from SIC, followed by a table summarizing the structure of the U.S. economy as specified in NAICS. This table indicates how the NAICS statistical system is organized and shows— very roughly in some cases—how each NAICS industry relates to the earlier SIC industries. In this part’s chapters, Business Statistics presents detailed industry data on the NAICS basis as far back as it is available. BLS employment and related data are available back to 1990. Census Bureau data on manufacturers’ shipments, orders, and inventories, and wholesale and retail sales and stocks, begin in 1992. For these Census data, Business Statistics shows roughly comparable data for earlier years, with an overlap shown in the year 1992, making comparisons at a broad level observable. For selected service industries, NAICS data are available only from 1998 forward. NIPA data by industry are presented on the NAICS basis as far back as available and on the SIC basis for earlier years. Part C, Historical Data, begins with a table summarizing annual values for important economic aggregates for the years 1929–1948, giving some suggestion of the enormous changes the economy went through as it experienced the Great Depression and the New Deal, mobilized for World War II, and subsequently demobilized. In the subsequent two chapters, postwar quarterly or monthly values for NIPA data and other major indicators provide the opportunity to observe changes associated with all of the

10 complete (peak-to-peak) business cycles that have been identified in this period. Part D, State and Regional Data, now includes not only data by state and region on personal income and employment back to 1958, but also values and quantity indexes for gross domestic product by state and region back to 1977. Notes and definitions. Productive use of economic data requires accurate knowledge about the sources and meaning of the data. The notes and definitions for each chapter, shown immediately after that chapter’s tables, contain definitions, descriptions of recent data revisions, and references to sources of additional technical information. They also include information about data availability and revision and release schedules, so that the user may readily access the latest current values if he or she needs to keep up with the data month by month or quarter by quarter. THE HISTORY OF BUSINESS STATISTICS The history of Business Statistics began with the publication, many years ago, by the U.S. Department of Commerce’s Bureau of Economic Analysis (BEA) of the first edition of a volume of the same name and general purpose. After 27 periodic editions, the last of which appeared in 1992, the BEA found it necessary (for budgetary and other reasons) to discontinue both the publication and the maintenance of the database from which the publication was derived. The individual statistical series gathered together here are publicly available. However, the task of gathering them from a number of sources within the government and assembling them into one coherent database is impractical for most data users. Even when current data are readily available, obtaining the full historical time series often is time-consuming and difficult. Definitions and other documentation can be inconvenient to find as well. Believing that a Business Statistics compilation was too valuable to be lost to the public, Bernan Press published the first edition of the present publication in 1995, edited by Dr. Courtenay M. Slater. The first edition received a warm welcome among users of economic data. Dr. Slater, formerly Chief Economist of the Department of Commerce, continued to edit and improve Business Statistics through four subsequent annual editions. The current editor worked with Dr. Slater on the fourth and fifth editions. In subsequent editions, she has continued in the tradition established by Dr. Slater of ensuring highquality data while revising and expanding the book’s scope to include significant new aspects of the U.S. economy and longer historical background. Nearly all of the statistical data in this book are from federal government sources and are in the public domain. Sources and restrictions, if any, are given in the notes and definitions.

PREFACE The data in this volume meet the publication standards of the federal statistical agencies from which they were obtained. Every effort has been made to select data that are accurate, meaningful, and useful. All statistical data are subject to error arising from sampling variability, reporting errors, incomplete coverage, imputation, and other causes. The responsibility of the editor and publisher of this volume is limited to reasonable care in the reproduction and presentation of data obtained from established sources. The 2006 edition has been edited by Cornelia J. Strawser, in association with Mark Siegal. Dr. Strawser is Senior Economic Consultant to Bernan Press. She edited the seventh, eighth, ninth, and 10th editions and was the co-editor on two previous editions of Business Statistics. She was co-editor of Foreign Trade of the United States, 2001, and also worked on the Handbook of U.S. Labor Statistics. She was formerly Senior Economist for the U.S. House of Representatives Budget Committee and has also served at the Senate

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Budget Committee, at the Congressional Budget Office, and on the Federal Reserve Board staff. Her fields of special concentration included analysis of current business conditions, including issues of economic measurement; monetary and fiscal policy; and income distribution and poverty. Mark Siegal, a research editor with Bernan Press, served as the associate editor on this edition as well as on the 10th edition of Business Statistics. Mark previously worked as a staff assistant with the USDA Human Nutrition Research Center on Aging at Tufts University, and has a background in researching government data, statistics and data management, technical writing, and editing. Mark, also an assistant editor on Vital Statistics of the United States, has a B.S. in communication (with distinction in research) from Cornell University and a certificate in epidemiology from Tufts University. The editor assumes full responsibility for the interpretations presented in this volume.

NEW DATA FOR THE U.S. ECONOMY

The mission of Bernan Press in publishing Business Statistics each year is to provide historical facts, figures, and descriptions for the data that monitor the performance of the U.S. economy as a whole and its sectors and industries. New in this 11th edition are several important statistical series that have drawn much recent attention.

price index, favored by the Federal Reserve Board and other analysts). Also included are “marketbased” versions of the PCE index, introduced in the 2003 comprehensive revision of the NIPAs. (Tables 8-2 and 8-3)

The first part of this article briefly describes these new series, with references to the tables in which they are found. The second part describes the 2003 comprehensive revision of the national income and product accounts (NIPAs). This section includes some material from the 10th edition of Business Statistics, which introduced this comprehensive revision. It also includes updated information from the tabulations on spending and saving by nonprofit institutions that were introduced in the 2003 comprehensive revision. The third part presents two new quarterly reports from the Census Bureau, one on e-commerce and one on services.

“Real” interest rates. The effect of a given nominal interest rate on economic behavior is different when inflation is expected to be high from the effect when expected inflation is low. Frequently, analysts subtract either the current inflation rate or some expected inflation value from a nominal interest rate to provide a measure of the “real” interest rate. In this spirit, Business Statistics shows the primary Federal Reserve policy instrument, the federal funds overnight lending rate, not only in nominal terms but also corrected for inflation using an often-used measure—the contemporaneous rate of change from a year earlier in the PCE index excluding food and energy. (Table 12-9)

I. SERIES NEW TO BUSINESS STATISTICS New information on prices and inflation. • Two price indexes for single-family houses are introduced. One is the index for prices of existing houses, calculated by the Office of Federal Housing Enterprise Oversight (OFHEO). This is often cited in discussions of whether there is a speculative “bubble” in housing prices. Other uses might include comparisons with a stock price index such as the Standard and Poor’s 500 to determine if and when the average family home has been a better investment than the average common stock. (Table 12-10) The other series new to Business Statistics is a Census Bureau index for new home sales. It shows the change in the price of a newly-built house, holding quality constant. (Table 17-3) • Historical data for crude oil prices are now shown in a fashion consistent with the price quoted every day in the newspapers. This price series is shown not only in current dollars, as normally quoted, but also in constant (2000) dollars—that is, relative to the overall level of prices. Thus, it can be seen that while the price registered in 2004 was the highest so far in current dollar terms, it was not as high relative to the general price level as in the early 1980s. (Table 17-1) • Data and discussion are introduced for several different indexes often used as gauges of inflation: total and “core” indexes (“core” indicating that food and energy prices have been stripped out) for variations of the CPI (Consumer Price Index) and the PCE (personal consumption expenditures chain

The creation of indexed Treasury securities also makes it possible to observe a market-determined longer-term real interest rate. This rate is also shown in Table 12-9. New data on international capital flows. Shown for the first time in Business Statistics are the Treasury’s monthly data on long-term international capital flows, which have become crucial in financing the large and growing trade deficit and which also affect the international value of the dollar. By being available monthly, they provide early information on an important element of the currentaccount deficit and its financing. (Table 7-7) The growth of the cost of employee benefits for workers in private industry and state and local government, by major industry and occupational group, is shown in components of the Employment Cost Index newly added to Business Statistics. (Table 9-3) Expanded data on employment and unemployment. Data have been added on employment of the self-employed, household employees, and multiple jobholders (“moonlighters”). Participation rates and employment/population ratios are shown separately for adult men, adult women, and teenagers; these three groups have differing trends over time and different behaviors over the course of the business cycle. Labor force data for Asians are shown in addition to the other, larger racial and ethnic groups. Unemployment “by reason” is included for the first time. This is included because the unemployment of people who have lost jobs (as contrasted with the unemployment of those who have quit or the job search of persons entering the labor force) is the crucial variable in the business cycle. (Tables 10-1 through 10-5) To add to the ability to study recent behavior of employment, hours, and earnings by detailed industry, these data are xix

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

now shown monthly, as well as annually, for the last full year. (Chapter 16) New definitions of poverty. The Census Bureau has now calculated five years of poverty rates using several specifications based on recommendations by a panel of the National Academy of Sciences. These are included, along with updated data on the official poverty measure and many of its variants, in Chapter 3.

II. COMPREHENSIVE REVISION OF THE NATIONAL INCOME AND PRODUCT ACCOUNTS All the data from the national income and product accounts (NIPAs)—the basic accounts for production, income, and demand in the U.S. economy—presented in this edition of Business Statistics incorporate the 2003 comprehensive revision, further updated by the 2004 and 2005 annual revisions. (The previous edition incorporated the 2003 comprehensive revision and the 2004 annual revision.) During the half-century of history shown in this volume, the basic theme of short-term fluctuations and long-term growth remains the same as before these revisions. The basic concepts of production measurement and the categories in which the components of production are measured also remain the same. Growth rates over the postwar period are about the same as before. However, each of the revisions in turn made both the 2001 recession and the subsequent recovery milder than previously portrayed. For many students of the U.S. economy, the most significant consequences of the 2003 comprehensive revision were the new clarity introduced into the accounts, the new distinctions made in them, and the new ways in which economic relationships are illuminated. Major features of the 2003 comprehensive revision The major definitional and classification changes in the 2003 revision were as follows, with the material in quotes taken directly from the Bureau of Economic Analysis (BEA): • “A more complete and accurate measure of insurance services that results from estimating implicit services provided by property and casualty insurance companies.” This smoothed the inappropriate movements that were caused by extraordinary disasters—such as hurricanes and the terror attack on September 11, 2001—under the previous treatment. • “An improved measure of banking services that identifies services received by borrowers as well as by depositors.” As a result of the overhaul of the banking measure, bank output growth in the United States was revised downward, partly because services to business borrowers were redefined as interme-

diate rather than final output, and partly because more output was attributed to foreign offices. • “A new treatment of government that recognizes that governments produce services and that goods and services purchased by governments are intermediate inputs.” This treatment did not revise total gross domestic product (GDP), but made offsetting changes in its components. • “An expanded definition of national income that includes all net incomes earned in production—a definition more consistent with international guidelines.” New and updated sources and methodologies were used to improve other sectors of the accounts. The base year for chained-dollar estimates of real output was updated from 1996 to 2000, as was the base year for all quantity and price indexes. While these base-year changes affected the level of every index and chained-dollar series, they did not have any effect on the statistics that convey the meanings of the series—the growth rates of real product and its components, and the changes in price levels that portray inflation. Industry measures are now compiled and presented using the new North American Industry Classification System (NAICS). However, because NAICS represents such a sharp break from the old Standard Industrial Classification System (SIC), much of the NAICS-based data is only available for recent years. For this reason, Business Statistics continues to show data for some series for earlier years using the SIC. NIPA changes in Business Statistics These new features have all been incorporated into the NIPA-based tables in Business Statistics. An overview of the major changes in each affected chapter follows. More detailed information is provided in the notes and definitions that follow each chapter. Chapter 1. In the first section of Chapter 1, “Gross Domestic Product: Values, Quantities, and Prices,” the structure and the underlying content of the tables are little changed from those presented in Business Statistics in previous years. The introduction of chain-weighted price and quantity indexes in recent years has made the measurement of real output more stable, because real GDP changes are no longer re-evaluated using price relationships from time periods far removed from those in which the changes actually take place. However, chain-weighting has complicated the analysis of real data. Specifically, it is now difficult for users of the data to break down the change in a total to the changes in its component parts that add up to the total. Business Statistics therefore now includes Table 1-3, Contributions to Percent Change in Real Gross Domestic Product, as calculated by the Bureau of Economic Analysis.

NEW DATA FOR THE U.S. ECONOMY The second section, entitled “Income and Value Added,” incorporates many of the new and clarified definitions of income in tables that make more clear the identity of the value of output and the value of the incomes generated by that output. Table 1-9 demonstrates the relationship of domestic income and product to national income and product. In this table, domestic indicates income and product generated within the United States while national indicates income and product accruing to residents of the United States. Domestic and national income components are presented in Tables 1-10 and 1-11, where differences between the two are identified in more detail. Certain components of national and domestic income have been re-grouped. Certain fees for services that used to be included in “other labor income” have been reclassified as wages and salaries, and the bulk of the category formerly known as “other labor income” is now included in “supplements to wages and salaries,” which comprises employer contributions to government and private social insurance and benefit funds. Business tax totals no longer include “nontaxes,” which have been reclassified as transfer payments. In Tables 1-12 and 1-13, Business Statistics provides an expanded presentation of “value added by”—formerly known as “GDP originating in”—domestic corporate business, financial and nonfinancial, and the income components of that value added. Real-dollar measures of the output of nonfinancial domestic corporate business are also shown in this edition. Chapter 4. The tables in this chapter have changed little in their general outlines. In Table 4-1, Personal Income and Its Disposition, “nontaxes” are no longer lumped in with personal taxes, but have been reclassified mainly as transfer payments. “Supplements to wages and salaries” now include business payments to social insurance funds and pension and welfare funds. However, both employer and employee contributions to social insurance funds are subtracted in the calculation of “personal income,” whose definition remains therefore unchanged. Chapter 5. Table 5-1, Saving and Investment, now includes a new measure of “net domestic investment,” which is defined as the value of gross investment minus the value of the consumption of fixed capital. It also includes two new national saving rates—gross saving and net saving as a percent of gross national income. A new concept, “net lending or net borrowing,” provides a measure similar to the “net foreign investment” concept formerly included in these tables. With an adjustment for “capital account transactions” (generally a small amount), it shows the amount by which national saving exceeds domestic investment and can be invested abroad. When net lending or net borrowing has a negative sign, as has been the case in current years, domestic investment exceeds national saving and has been financed by capital inflows from abroad. Chapter 6. This chapter reflects the new treatment of government in the NIPAs. It is a clarification of the role of

xxi

government, not a quantitative re-evaluation. These definitional changes do not change total GDP in either current or constant dollars, or change the amount of government saving and investment. However, they do provide new information on what the government produces and the flows between government and the rest of the economy. Government performs two different functions that are specifically recognized in these accounts. First, government produces output that adds to the overall output of goods and services. This output is broken down between “gross investment,” which is production of fixed assets with lives longer than one year, and “consumption expenditures,” which is all other government activity that uses productive resources, including payments to government employees for their services. Both government gross investment and government consumption expenditures are components of GDP, just as private gross investment and personal consumption are components. Second, government redistributes income by making payments of social benefits to persons—payments that are not in exchange for services performed in the period under measurement, such as Social Security payments and payments for Medicare services. These payments are not components of the building-up of GDP, but affect the flow of incomes to individuals. Through these effects, they are likely to indirectly influence the level and composition of GDP—for example, by facilitating the use of medical care. Governments finance all of their spending—investment, consumption, and social benefits and other transfer payments—with some combination of taxes, other receipts, and borrowing, as demonstrated by the new NIPA tables. Tables displaying “Current Receipts and Expenditures,” such as Tables 6-1 and 6-8, include all current government spending (whether it generates GDP or redistributes income) and all current tax and other receipts. Investment spending is not included, but spending does include a calculated value of the consumption of government fixed capital. In the receipts sections of these tables, personal current taxes exclude the “nontax” payments, which are now in transfer receipts. “Indirect business taxes” now exclude “nontaxes,” again reclassified as transfer payments, and are renamed “taxes on production and imports.” Receipts of interest and other payments on assets are now shown separately in the receipts section, instead of being netted against government interest and other payments. These now appear gross of such receipts in the expenditure section. Of course, this “grossing up” does not change net government saving. The tables that follow complete the depiction of the role of governments in the production of GDP and in the balance of saving and investment. In Tables 6-2 and 6-9, government consumption spending is seen to be the total of employee compensation, consumption of fixed capital, and goods and services purchased from other sectors, adjusted to exclude own-account investment and sales to

xxii

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

other sectors. This consumption spending plus government gross investment (which includes the own-account investment that was removed from the components of consumption spending) makes up the contribution of government to GDP. Tables 6-5 and 6-10 show the total “gross” output of government, which consists of the value added by the government labor force and capital stock and the value of the goods and services purchased. The same tables show net investment (gross investment minus capital consumption) and net lending, completing the accounting for the government contribution to national saving and investment as shown in Table 5-1. Other tables in Chapter 6 present detail of government consumption expenditures and gross investment, including breakdowns of federal spending into defense and nondefense components; these are represented in current dollars and quantity indexes. Chapter 7. Foreign transactions in the NIPAs are now closely aligned with the international transactions accounts (ITAs) in the definition of the current-account balance. (The actual measures will still differ because of slightly different definitions, including the fact that the NIPAs exclude U.S. territories overseas that are included in the ITAs.) In Table 7-1, instead of “net foreign investment” (the entry that used to be added to “payments to the rest of the world” to balance the accounts), the NIPAs now show “balance on current account,” “capital transactions,” and “net lending and net borrowing, national income and product accounts.” The last is defined as the balance on current account less capital transfers to the rest of the world. In Table 7-6, the ITAs measure the balance on current account and the capital transactions (with the definitional differences mentioned above). They also directly measure (with an inevitable statistical discrepancy) the capital inflows and outflows that are associated with those transactions. Chapter 15. Business Statistics has incorporated new tables on product and income by NAICS industry and retained earlier data on the old Standard Industrial Classification (SIC). The concept formerly known as “gross domestic product originating,” or “GDP by industry,” was renamed “value added” in the 2003 revision. This does not represent any significant change in the concept, which continues to be the portion of the GDP, priced at market prices (including taxes on production and imports), that is produced in the industry, or—equivalently—the industry’s gross output, valued at market prices, minus its purchases of intermediate goods and services. Due to the redefinition of income to include taxes on production and imports, the income originating in an industry is now the same— except for statistical discrepancy—as the gross product or value added of that industry.

Measures of real industry output are shown in Table 15-1 as quantity indexes on the SIC basis for 1987–2000, and in Table 15-2 as chained-dollar measures on the NAICS basis from 1998 to date. The value added statistics in Table 15-3 should be used with some caution as measures of the relative importance of industries in the United States. The reason is the economically arbitrary assignment of “taxes on production and imports”—now included in both value added and income—to industries in the U.S. economy. These taxes are assigned to the industry with the legal liability to pay them; see the notes and definitions to this chapter for a discussion of the problems with this assignment. To avoid this source of distortion, the editor has added a tabulation of gross domestic factor income to this edition of Business Statistics—value added minus taxes on production and imports—showing the incomes of capital and labor and their sum for each industry. (Table 15-4) Nonprofit institutions. In the NIPAs, the personal sector includes not only households but also “nonprofit institutions serving households” (NPISHs). This comprises all nonprofit institutions except for those that are considered to be serving government and business, such as chambers of commerce and trade associations. These institutions are included in the business sector instead. For annual (not quarterly) data from the years 1992 through 2004, BEA now compiles and makes available tables showing personal income and its disposition for households and NPISHs separately. Each major type of income and expenditure is estimated separately for the two groups. Household receipts from NPISHs, purchases from NPISHs, and contributions to NPISHs are identified separately instead of being netted out as they are in the current quarterly accounts. These data provide answers to questions about how much of “personal” saving is in fact accounted for by NPISHs and whether these institutions are a factor in the observed changes in personal saving behavior. Saving estimates from these tables are shown in Table A-1 on page xxiii. These results indicate that NPISHs accounted for a surprisingly large proportion of personal saving in the stockmarket boom years of 1999 and 2000. More recently, the amount and share of NPISH saving has subsided. The significance of this information and other important factors in personal saving is discussed in Marshall B. Reinsdorf, “Alternative Measures of Personal Saving,” Survey of Current Business, September 2004. These data and the data on income and outlays for the household and non-profit sectors on which they are based are available in Table 2-9 in the NIPA tables, which can be found on the BEA Web site, . The Reinsdorf article on saving measures and an article from the April 2003 Survey of Current Business, “Income and Outlays of Households and of Nonprofit Institutions Serving Households,” can be found at the same Web site.

NEW DATA FOR THE U.S. ECONOMY

xxiii

Table A-1. Personal Saving: Households and Non-Profit Institutions Serving Households (NPISHs) Personal saving (billions of dollars)

NPISH saving as a percent of total personal saving

Year Total personal

Household

NPISH

Saving as a percent of disposable income Total personal

Household

1992 ...................................................... 1993 ...................................................... 1994 ......................................................

366.0 284.0 249.5

352.6 271.4 238.8

13.5 12.6 10.6

3.7 4.4 4.2

7.7 5.8 4.8

7.5 5.6 4.7

1995 1996 1997 1998 1999

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

250.9 228.4 218.3 276.8 158.6

235.7 206.9 176.5 240.3 114.0

15.2 21.6 41.8 36.5 44.6

6.1 9.5 19.1 13.2 28.1

4.6 4.0 3.6 4.3 2.4

4.4 3.7 3.0 3.8 1.7

2000 2001 2002 2003 2004

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

168.5 132.3 184.7 172.8 151.8

116.6 107.8 168.6 162.1 134.8

51.9 24.5 16.2 10.7 16.9

30.8 18.5 9.6 6.6 12.5

2.3 1.8 2.4 2.1 1.8

1.6 1.4 2.2 2.0 1.6

Overall, the immense wealth of new data now provided in the NIPAs affords new opportunities for fruitful research and a deeper understanding of the U.S. economy.

III. NEW QUARTERLY REPORTS FROM THE CENSUS BUREAU The Census Bureau has instituted two important new quarterly reports on growth areas of the U.S. economy, which provide additional business indicators and more current information for inclusion in the GDP. Retail E-commerce sales Beginning with the fourth quarter of 1999, the Census Bureau has collected data on e-commerce sales from the Monthly Retail Trade Survey sample (see Table 17-9 and its notes and definitions). E-commerce sales are the sales of goods and services in which an order is placed by the buyer or price and terms of sale are negotiated over the Internet, extranet, Electronic Data Interchange (EDI) network, electronic mail, or other online system. Payment may or may not be made online. Table A-2 on page xxiv shows data from this survey through the third quarter of 2005, both unadjusted for seasonal variation and seasonally adjusted; the seasonally adjusted data are new this year. The quarterly releases and full data tables are available on the Census Web site .

fourth quarter of 2005, due February 17, 2006, is likely to be of widespread interest. Quarterly revenue for selected services Seven quarters of data are now available for most industries covered in the new Quarterly Services Survey (only three quarters are included for hospitals and nursing and residential care facilities), as shown in Table A-3 on page xxv. These data allow for some preliminary observations about seasonal movements and trends in these industries. Many industries show changes that appear to be seasonal in nature, with particularly strong fourth quarters. Some industries also have a second-quarter uptick, while accounting and related services have strong first quarters, reflecting the tax preparation season. Until enough years of data have accumulated to permit the calculation of seasonal adjustment factors, the best trend indicators are the growth rates from a year earlier; the two most recent are shown in the final two columns of the table. In the second quarter of 2005, double-digit revenue growth from a year earlier was shown by cable networks and program distribution; wireless telecommunications and other telecommunications; accounting and similar services; management, scientific, and technical consulting services; advertising; and travel services.

These estimates reflect the NAICS definition of retail sales, which excludes food service. Online travel services, financial brokers and dealers, and ticket sales agencies are not classified as retail and are not included in these estimates; they are, however, included in the annual survey of selected services. See Table 17-15 for more information.

The “employment services” category includes temporary help agencies. It shows moderately strong year-over-year growth but with an apparent seasonal decline in the first quarter. This industry group has revenues only half those of the “other administrative and support” category, which provides administrative, janitorial, and other services to businesses on a contract basis.

Based on the seasonally adjusted data, e-commerce has grown from 0.6 percent of retail sales in the fourth quarter of 1999 to 2.3 percent of sales in the third quarter of 2005. The unadjusted data show a fourth-quarter jump each year in the e-commerce share, indicating that the holiday buying component of e-commerce is somewhat greater proportionally than in general retail sales. In view of the intense discussions of online shopping for the 2005 holiday season, the Census report on e-commerce for the

These new quarterly Census data, available on the Census Web site at , will improve the quality of quarterly GDP data for these important and growing service sectors, reducing the amount of revision necessary in annual benchmarking. They represent an important addition to the ability of the NIPAs to measure the course of today’s economy, both accurately and promptly.

xxiv

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table A-2. Quarterly U.S. Retail Sales: Total and E-Commerce Retail sales (millions of dollars) Year and quarter Total

E-commerce

E-commerce as a percent of total sales

Percent change from prior quarter Total sales

E-commerce sales

Percent change from same quarter a year ago Total sales

E-commerce sales

NOT SEASONALLY ADJUSTED 1999 4th quarter ..................................................

766 184

5 140

0.7

8.4

...

9.0

...

2000 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

694 130 751 524 745 674 791 679

5 462 5 972 6 817 8 907

0.8 0.8 0.9 1.1

-9.4 8.3 -0.8 6.2

6.3 9.3 14.1 30.7

11.1 7.4 5.5 3.3

... ... ... 73.3

2001 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

704 615 779 224 756 857 829 127

7 815 7 784 7 751 10 802

1.1 1.0 1.0 1.3

-11.0 10.6 -2.9 9.5

-12.3 -0.4 -0.4 39.4

1.5 3.7 1.5 4.7

43.1 30.3 13.7 21.3

2002 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

718 959 792 382 794 520 835 607

9 666 10 146 10 774 14 120

1.3 1.3 1.4 1.7

-13.3 10.2 0.3 5.2

-10.5 5.0 6.2 31.1

2.0 1.7 5.0 0.8

23.7 30.3 39.0 30.7

2003 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

742 161 820 540 833 206 879 500

12 180 12 699 13 495 17 357

1.6 1.5 1.6 2.0

-11.2 10.6 1.5 5.6

-13.7 4.3 6.3 28.6

3.2 3.6 4.9 5.3

26.0 25.2 25.3 22.9

2004 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

802 110 880 936 886 091 952 572

15 494 15 752 16 473 21 519

1.9 1.8 1.9 2.3

-8.8 9.8 0.6 7.5

-10.7 1.7 4.6 30.6

8.1 7.4 6.3 8.3

27.2 24.0 22.1 24.0

2005 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter .................................................

852 249 952 392 962 707

19 124 19 812 20 817

2.2 2.1 2.2

-10.5 11.8 1.1

-11.1 3.6 5.1

6.3 8.1 8.6

23.4 25.8 26.4

1999 4th quarter ..................................................

722 454

4 477

0.6

2.3

...

9.3

...

2000 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

740 491 739 869 746 941 751 884

5 681 6 333 7 262 7 686

0.8 0.9 1.0 1.0

2.5 -0.1 1.0 0.7

26.9 11.5 14.7 5.8

9.5 7.1 5.7 4.1

... ... ... 71.7

2001 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

756 897 766 162 759 805 786 789

8 110 8 277 8 292 9 316

1.1 1.1 1.1 1.2

0.7 1.2 -0.8 3.6

5.5 2.1 0.2 12.3

2.2 3.6 1.7 4.6

42.8 30.7 14.2 21.2

2002 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

774 281 783 076 791 696 792 846

10 025 10 802 11 543 12 162

1.3 1.4 1.5 1.5

-1.6 1.1 1.1 0.1

7.6 7.8 6.9 5.4

2.3 2.2 4.2 0.8

23.6 30.5 39.2 30.5

2003 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

800 410 808 643 830 624 834 502

12 606 13 495 14 423 15 012

1.6 1.7 1.7 1.8

1.0 1.0 2.7 0.5

3.7 7.1 6.9 4.1

3.4 3.3 4.9 5.3

25.7 24.9 25.0 23.4

2004 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter ................................................. 4th quarter ..................................................

854 133 867 869 882 822 904 126

15 997 16 789 17 620 18 607

1.9 1.9 2.0 2.1

2.4 1.6 1.7 2.4

6.6 5.0 4.9 5.6

6.7 7.3 6.3 8.3

26.9 24.4 22.2 23.9

2005 1st quarter .................................................. 2nd quarter ................................................. 3rd quarter .................................................

916 768 941 282 957 864

19 729 21 112 22 323

2.2 2.2 2.3

1.4 2.7 1.8

6.0 7.0 5.7

7.3 8.5 8.5

23.3 25.7 26.7

SEASONALLY ADJUSTED

. . . = Not available.

NEW DATA FOR THE U.S. ECONOMY

xxv

Table A-3. Selected Services: Estimated Revenue for Employer Firms (Not seasonally adjusted.) Total revenue (millions of dollars) NAICS code

Percent change

2Q 2005

1Q 2005

4Q 2004

3Q 2004

2Q 2004

1Q 2004

4Q 2003

2Q 2005 from 2Q 2004

235 501 62 524 13 299 9 551 14 391 25 283 16 626 134 105 15 450 30 223 88 432 49 883 33 512 5 037 22 246 8 884 13 362

227 592 58 769 12 553 8 554 13 831 23 831 16 957 130 466 14 792 28 289 87 385 50 319 32 019 5 047 21 400 8 649 12 751

236 969 64 010 13 505 9 539 14 717 26 249 19 539 131 507 16 190 27 641 87 676 51 350 31 641 4 685 21 913 8 923 12 990

225 588 59 563 12 463 9 543 14 371 23 186 16 012 128 829 15 205 26 242 87 382 51 484 31 367 4 531 21 184 8 281 12 903

225 858 58 580 12 757 9 308 13 371 23 144 18 074 127 865 15 701 25 802 86 362 52 066 29 759 4 537 21 339 8 272 13 067

216 455 56 064 12 093 8 189 12 922 22 860 17 175 122 805 13 302 24 474 85 029 52 541 28 214 4 274 20 411 7 920 12 491

228 197 63 007 12 999 9 052 14 418 26 538 20 480 123 189 14 176 23 617 85 396 53 237 27 708 4 451 21 521 7 938 13 583

4.3 6.7 4.2 2.6 7.6 9.2 -8.0 4.9 -1.6 17.1 2.4 -4.2 12.6 11.0 4.3 7.4 2.3

5.0 4.9 2.6 4.3 7.5 4.9 0.3 5.7 11.2 15.2 2.1 -4.2 11.4 19.0 5.3 10.4 2.0

54 ................... Professional, scientific, and technical services 5412 ............... Accounting, tax preparation, bookkeeping, and payroll services 5413 ............... Architectural, engineering, and related services 5415 ............... Computer system design and related services 5416 ............... Management, scientific, and technical consulting services 5418 ............... Advertising and related services 541 pt ............. Other professional, scientific, and technical services

259 456 26 609 57 502 47 619 33 485 19 393 74 848

247 941 30 204 53 379 45 884 31 754 17 415 69 305

251 500 21 085 55 496 45 952 31 730 19 091 78 146

233 571 19 990 52 645 45 066 29 962 17 311 68 597

241 999 23 572 56 991 44 681 30 199 17 196 69 360

229 320 27 565 51 105 44 967 27 631 16 207 61 845

229 739 21 727 48 637 44 254 27 630 17 053 70 438

7.2 12.9 0.9 6.6 10.9 12.8 7.9

9.1 10.2 6.3 2.9 16.0 7.7 12.8

56 ................... Administrative and support and waste management and remediation services 561 ................. Administrative and support services 5613 ............... Employment services 5615 ............... Travel arrangement and reservation services 561 pt ............. Other administrative and support services 562 ................. Waste management and remediation services

130 531

123 881

129 561

124 355

121 139

115 086

113 368

7.8

7.8

117 204 36 133 8 171 72 900 13 327

111 610 35 056 7 082 69 472 12 271

115 634 37 268 6 778 71 588 13 927

110 347 34 560 6 822 68 965 14 008

108 415 33 583 7 157 67 675 12 724

103 104 30 505 6 338 66 261 11 982

101 048 31 059 6 008 63 981 12 320

8.1 7.6 14.2 7.7 4.7

8.6 13.8 12.2 5.9 0.5

62 pt ............... Selected health care services 622 ................. Hospitals 623 ................. Nursing and residential care facilities

194 787 158 927 35 860

193 083 158 080 35 003

189 176 153 629 35 547

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

51 ................... 511 ................. 51111 ............. 51112 ............. 5111 pt ........... 5112 ............... 512 ................. 513 ................. 5131 ............... 5132 ............... 5133 ............... 51331 ............. 51332 ............. 5133 pt ........... 514 ................. 5141 ............... 5142 ...............

Kind of business

Information Publishing industries Newspaper publishers Periodical publishers Book, database and directory, and other publishers Software publishers Motion picture and sound recording industries Broadcasting and telecommunications Radio and television broadcasting Cable networks and program distribution Telecommunications Wired telecommunications carriers Wireless telecommunications carriers (except satellite) Other telecommunications Information services and data processing services Information services Data processing services

. . . = Not available.

1Q 2005 from 1Q 2004

USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY

This edition of Business Statistics of the United States provides a summary economic record of the years from 1929 through the end of World War II, as well as extensive detail describing the entire, remarkable period from the end of that war through the first four years of the 21st century. Business Statistics enables its users to undertake many different types of analysis. They can look at the postwar period as a whole, perhaps comparing it with the years from 1929 through 1948. They can compare the performance of the U.S. economy in different wars, both large and small. They can compare economic performance in each of 13 business cycles, including or excluding the “Great Depression” of the 1930s. They can compare the beginnings of previous expansions with the period of growth, still under way at this writing, that has begun the expansion phase of the 11th postwar cycle. They can examine the entire history of the cycle of inflation and disinflation that occurred from the 1960s through the 1990s, and contrast it with the deflation of the early 1930s and wartime inflations. To assist the users of these statistics, the editor first provides some examples of important analytical techniques for extracting a message from a column of figures. Following that section, and illustrating the use of the techniques described, is a comparison of some important indicators for the most recent period of recession and early expansion (from 2000 through 2004) with long-term averages and with the first four years including and following the 1990 recession. Subsequent sections deal with standard-of-living issues and with the relation between inflation and unemployment. Following these are brief mentions of wartime comparisons, business cycle comparisons, and other possible uses. Analytical techniques In assessing the performance of an economy over longer periods of time, it is important to use analytical techniques that highlight the most important attributes of the series. In this article and in the graphs and text that accompany nearly every Business Statistics data chapter, the editor will frequently make use of three such tools: the ratio-scale graph, the calculation of compound annual growth rates, and the use of cyclically comparable years to estimate trends and to separate cyclical from trend behavior. Econometricians use more sophisticated methods of statistical analysis to estimate relationships and construct econometric models, but much can be discerned by using these relatively simple techniques. Ratio-scale graphs. At the beginning of Chapter 1 (Figure 1-1) is a time series graph of output per capita from 1946 through 2004, drawn on a ratio scale. Output per capita is

the constant-dollar value of each year’s U.S. gross domestic product (GDP), divided by the size of that year’s U.S. population. The reader will quickly see that equal distances on the vertical scale of this graph do not represent equal 2000dollar differences in values. However, equal vertical distances do represent equal percent changes. Any upwardsloping straight line plotted on this scale would represent a constant percentage rate of growth over the period, and any downward-sloping straight line would represent a constant percentage rate of decline. This ratio-scale graph was produced by the following three steps: (1) The values to be graphed were converted into natural (base e) logarithms. (2) The natural logarithms were graphed. (3) For ease in interpretation, the vertical scale on this graph of the logarithms was relabeled, replacing the actual numerical value of the logarithm that was plotted with the numerical value of its antilog—that is, the original value. This technique is only valid, of course, for data series that do not include zeroes or negative numbers, for which logarithms do not exist. Because percentage values such as the unemployment rate and percent changes such as the inflation rate are already in percentage terms, and because percent changes may include zero and/or negative values, they are not graphed in this fashion. Compound annual growth rates. In the text of this article and in the highlights pages that precede and accompany most of the chapters, the editor often uses compound annual growth rates to summarize the history of important economic processes such as economic and demographic growth and inflation. The compound annual growth rate is the percentage rate which, when compounded annually, would cause a quantity “X(t)” observed in a period “t” to grow (or decline) to a quantity “X(t+i)” over a period of “i” years. Using this procedure, growth percentages for different periods spanning different numbers of years can be reduced to a common scale—the annual rate—for comparison. The formula for calculating such a growth rate, “r,” is as follows:

r=

 i X (t + i )  − 1 x100 .  X t ( )  

When growth rates are functionally related to each other, such as the growth rates for output, hours worked, and output per hour worked (productivity), those rates will

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be arithmetically consistent as in the following formula, where “o” is the percentage growth rate for output, “h” the rate for hours worked, and “p” the growth rate for output per hour worked: p = [[(100 + o) / (100 + h)] – 1]x100 When the percentage growth rates are not very far from zero, relationships of this kind can be approximated or verified by simple addition or subtraction of the relevant percentage rates. For example, the productivity growth rate of 2.2 percent shown in Table B-1 (nonfarm business, 1948–2000) is (approximately) the difference between the output growth rate of 3.7 percent and the hours growth rate of 1.5 percent. Using cyclically comparable end points. For economic processes that have significant business-cycle components, such as output and employment, it is important to use comparable points in the business cycle for estimating underlying growth rates. (For an explanation and enumeration of business cycles, see the notes and definitions to Table 1-8.) One commonly used method is to simply calculate growth rates between years with similar, high rates of resource utilization. The broadest readily available measure of resource utilization is the unemployment rate, which was 3.8 percent in 1948 and 4.0 percent in 2000.1 Hence, in the analysis that follows, postwar long-term growth rates are typically calculated as the rates for the 52-year period from 1948 to 2000. For comparisons using monthly or quarterly data, calculations can be somewhat more precise, using the dates of business cycle peaks, which are shown in the notes and definitions to Table 1-8, as beginning and end points.

The year 2004, the last shown in this book, cannot be treated as if it were a business cycle peak. The expansion is continuing at this writing (late in 2005) and shows no signs of an imminent turnaround. Hence, it doesn’t tell the whole story to compare the most recent four years with a long-term, peak-to-peak performance such as that seen from 1948 to 2000. Instead, for cyclically sensitive indicators such as GDP and employment, the editor will compare the 2000–2004 period with a cyclically similar period—the years 1990–1994. The year 1990 represented a high point in the annual average for real GDP, which declined in 1991 because of a recession that ran from July 1990 to March 1991. The year 2000 was a year of high growth, followed by very slow growth in 2001 associated with the recession that ran from March to November of 2001. This suggests that it is appropriate to compare the 2000–2004 period with 1990–1994, bearing in mind that they each include a recession period but not a full period of expansion. Both periods can be expected to show slower growth than any period that runs all the way from one cycle peak to the next.2 Assessing growth and labor compensation, long-term and early expansion Table B-1 displays growth rates and related variables for some of the major economic indicators over the entire 1948–2000 period and for two periods of recession and partial recovery (1990–1994 and 2000–2004). For each indicator, a reference is given to the source table in Business Statistics.

Table B-1. Rates of Growth and Inflation: Long-Term and Early Expansion (Percent changes, annual rate, except as noted.) Long-term

Recession and early expansion

Classification 1948–2000

1979–2000

1990–1994

2000–2004

Output, population, employment, and productivity Real GDP (Table 1-2) ............................................................................................ Population (Table 1-7) ............................................................................................ Output per capita (Table 1-7) .................................................................................

3.5 1.3 2.2

... ... ...

1.7

10.2

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

2.1 2.2

Compensation per hour, nonfarm business (Table 9-4) ......................................... Wages and salaries ............................................................................................ Benefits ..............................................................................................................

25.5

Civilian labor force (Table 10-1) ............................................................................. Labor force participation rate (Table 10-1) ............................................................. Civilian employment (Table 10-2) .......................................................................... Unemployment rate (Table 10-4) ...........................................................................

18.3

1.7

2.4 1.3 1.1 1.0

10.1

0.9

2.3 1.0 1.3 0.8

1-1.1

0.4

10.5

11.5

... 1.7

1.1 1.8

-0.1 3.4

... ...

4.6 4.3 5.3

3.7 3.1 5.0

3.8 3.0 5.8

Labor cost per unit of output, nonfarm business (Table 9-4) ................................. Chain price index, PCE (Table 1-5) .......................................................................

3.2 3.5

... 3.7

1.6 2.7

0.5 2.0

Real compensation per hour, based on ECI and PCE ........................................... Wages and salaries ............................................................................................ Benefits ..............................................................................................................

21.8

0.9 0.6 1.6

1.0 0.4 2.3

1.8 1.0 3.8

Nonfarm payroll employment (Table 10-7) ............................................................. Output per hour, nonfarm business (Table 9-4) ..................................................... Employment cost index (ECI), labor cost, and prices

1Percentage point difference over total period, not at annual rate. 2Based on compensation in the productivity and cost data system.

. . . = Not available.

... ...

USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY

A NOTE OF CAUTION ABOUT DATA REVISIONS Although these data, like all of the data in Business Statistics, come from the world’s best national statistical operation, they also pertain to the world’s largest and most complex economy. The data are approximations, and the more recent data are preliminary approximations. Many important series have already been revised several times and will be revised again. Here are two examples of recent data revisions: • Population growth. Before the results of Census 2000 became available, population growth was estimated at 0.97 percent per year from 1990 to 2000 and 1.05 percent per year from 1990 to 1994. The actual results of Census 2000 came in higher, and the year 2000 and the intervening years were revised accordingly. Population growth from 1990 to 2000 is now measured at 1.22 percent and from 1990 to 1994 at 1.30 percent. • GDP is revised every year for at least three preceding years. Before the July 2005 revision, growth in real GDP from 2000 to 2004 was estimated at 2.51 percent per year. With the July 2005 revision (incorporated in this volume of Business Statistics), growth over those same four years is estimated at an annual rate of 2.31 percent. Downward revisions in GDP growth were reflected in similar downward revisions in productivity growth and upward revisions in unit labor costs.

Real GDP grew at a 3.5 percent annual rate from 1948 to 2000. As would be expected, growth from 2000 to 2004 was slower, at an annual rate of 2.3 percent. This was almost the same as the 1990–1994 period of recession and early recovery, which averaged 2.4 percent. Population growth is estimated to have slowed in the 21st century (although this judgment might be viewed with some skepticism, in the light of the scale of revision noted in the box above). By accepting the current estimate, it appears that real GDP per capita rose slightly faster in the recent period than in the early 1990s, although still slower than the long-term average of 2.2 percent per year. Increases in real GDP per capita can happen if work input increases more than population, if more can be produced by each unit of work input (that is, if productivity rises), or a combination of both. Taking the half-century ending in 2000 as a whole, both factors were at work. Some interesting differences can be seen in the first four years of this century, compared with the preceding half-

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century and with the previous cyclically comparable fouryear period. Labor force, employment, and unemployment. From 1948 to 2000, the labor force and total employment grew at a 1.7 percent rate—much faster than the population growth rate of 1.3 percent—which was reflected in the large increase in the labor force participation rate. Women of working age increasingly entered the work force, and their numbers far exceeded the numbers of men who left it. (For detailed statistics on labor force participation rates by sex, age, race, and Hispanic origin, see Bernan Press, Handbook of U.S. Labor Statistics.) The labor force growth rate was slower in 1990–1994 than its long-term average, and slower still in the most recent four years. Women’s participation in the labor force grew more slowly in the last decade of the century and has actually declined since 1999. (Table 10-1) There is currently vigorous debate about whether this turnaround reflects voluntary choices about work, inadequate employment opportunity, or some combination of both. Not in question is the fact that employment in the most recent four years has fallen much farther behind labor force growth than it did in 1990–1994. From 1990 to 1994, total civilian employment grew nearly as fast as the civilian labor force, and the unemployment rate rose a relatively moderate 0.5 percentage points, from 5.6 to 6.1 percent. However, from 2000 to 2004, employment grew only half as fast as the slower growth of the labor force, and the unemployment rate rose 1.5 percentage points, from 4.0 to 5.5 percent. (Nevertheless, it may be noted that the unemployment rate in 2004 was no higher than it had been at the 1990 cycle peak.) The retardation of employment in the first four years of the new century is even more marked in nonfarm payroll employment, which rose 2.1 percent per year over the half-century and 1.1 percent per year from 1990 to 1994, but actually declined slightly from 2000 to 2004. This series, though defined more narrowly than total civilian employment, is benchmarked to a comprehensive annual survey of employers and is independent of population estimates, whereas labor force and civilian employment growth numbers are subject to adjustment when the underlying population figures are revised. (See “Special Notes: Statistical Issues and Pitfalls.”) Productivity. Growth in GDP with little or no increase in employment implies growth in productivity. The 1948–2000 average rate of growth for output per hour in U.S. nonfarm business was 2.2 percent. Productivity grew more slowly from 1990 to 1994, which is what would be expected in a period that included a recession but not a full recovery. From 2000 to 2004, productivity growth was 3.4 percent per year (3.8 percent before the mid-2005 revision of GDP and productivity). Thus, it was possible to increase GDP and GDP per capita with an actual decrease in labor input (hours worked).

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Productivity growth is also considered to be a major determinant of the real wage, since it allows increases in compensation without increases in labor cost. The preferred measures of nominal labor compensation—the Employment Cost Index (ECI) measures—are shown in Table B-1. They are only available beginning in 1979, which is why a column showing growth from 1979 to 2000 has been added. (Those two years are roughly comparable in cyclical terms, so that they can be used to estimate the trend. The 1979 unemployment rate of 5.8 percent was substantially higher than in 2000, but it nevertheless represented a cyclical low, a point that would be not be reached again until 1988.) The first thing to notice is the increasing disparity between the growth rate of wages and salaries—the pretax compensation that workers see on their pay stubs— and the growth rate of total compensation, which includes all “fringe benefits” including the employer Social Security tax and the cost of employer-paid medical benefits. (See Table 9-3.) Health care costs are driving this increasing gap between what the employer pays in total for his or her workers and what workers see as their wages or salaries. This gap is part of the reason that measures such as average hourly earnings (Table 10-11) have fallen so far behind the growth rate of productivity. But even taking benefit costs into account, by using the measure of total compensation, it appears that compensation is falling behind productivity at an even greater

rate than it did during the early 1990s. Subtracting the rate of increase in the PCE price index shown in Table B1 from the ECI compensation rate of increase indicates 1.0 percent per year growth in real compensation in 1990–1994—compared with a productivity increase of 1.8 percent—and a 1.8 percent per year real compensation growth in 2000–2004—compared with a productivity increase of 3.4 percent. Another way of observing the same phenomenon is to note that in the 1948–2000 period as a whole, labor cost per unit of output rose about as fast as consumer prices, implying that labor compensation kept pace with productivity. In 1990–1994 and even more so in 2000–2004, the rise in labor cost per unit of output fell far short of the rate of price inflation, implying that the productivity gains went disproportionately to the nonlabor factors of production, and decisively refuting any suggestion that labor compensation was exerting inflationary pressure. A more complete accounting of the costs of production, taking capital as well as labor costs into account, can be observed in the productivity and cost data for nonfinancial corporations. These are only available back to 1958. The earliest year in that span with an unemployment rate comparable to 2000 is 1967 (3.8 percent, the same as 1948). Table B-2 compares 1967–2000 and the two fouryear recession periods as shown in the nonfinancial corporation data. (Table 9-4)

Table B-2. Productivity and Related Data, Nonfinancial Corporations (Percent changes, annual rate.) Classification

1967–2000

1990–1994

2000–2004

Output per hour worked ......................................................................................... Compensation per hour .......................................................................................... Real compensation per hour ..................................................................................

1.8 5.7 0.9

1.7 3.2 0.5

3.4 3.8 1.5

Unit labor costs ...................................................................................................... Unit non-labor costs ............................................................................................... Unit profits ..............................................................................................................

3.9 4.5 1.9

1.5 0.9 8.0

0.5 1.5 6.1

Implicit price deflator .............................................................................................. Consumer price deflator for real compensation .....................................................

3.8 4.8

2.0 2.7

1.3 2.3

USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY The 33-year span from 1967 to 2000 excludes many years of high productivity growth, and the productivity growth rate of 1.8 percent shown in the first column of this table is accordingly lower than the longer-term rate of 2.2 percent shown in the first column of Table B-1. For the more recent 4-year periods, however, the productivity growth rates for this sector are almost identical to the growth rates for the overall nonfarm business total during the same period. Over the longer span from 1967 to 2000, compensation per hour at nonfinancial corporations rose 5.7 percent and productivity rose 1.8 percent, for a unit labor cost increase of 3.9 percent. Unit non-labor costs (capital consumption, interest, and indirect taxes) rose 4.5 percent and unit profits rose 1.9 percent. (The relative decline in profits and rise in unit non-labor costs echoes the rise in interest and fall in profits indicated in the national income and product accounts, which in turn reflects the rise in corporate indebtedness. See Tables 1-13 and 12-5.) The implicit price deflator for the sector, or the total price of a unit of output—which is the sum of the unit cost and unit profits growth rates, weighted by their shares—rose at a 3.8 percent rate. Once again, this is the same as the rise in unit labor cost. Despite the fact that unit labor costs rose at about the same rate as the price (implicit deflator) for the sector as a whole over the 1967–2000 period, “real” compensation per hour, as calculated and published by the Bureau of Labor Statistics and shown here, fell short of productivity. This is because of a substantial difference in price trend for much of the postwar period between the “market basket” that workers consume and the “market basket” that U.S. corporations produce. Business sector output includes a substantial proportion of high-tech products, which have had dramatic price declines. Workers, on the other hand, buy proportionately fewer computers and other high-tech products and more commodity-based products, including imports. They did not get less than their proportionate share of the sector’s revenues, but what they earned lost ground in relative purchasing power. As can be seen in the table, the difference between the two price trends continued in the latest four years. In both recession-recovery periods, unit labor costs lagged behind the change in output prices while unit profits expanded. The rise in real compensation in 2000–2004 represented a substantial improvement over both of the previous periods shown, yet lagged farther than ever behind the astonishing increase in productivity. Whose standard of living? So far, this article has been concerned with averages— average GDP per capita, average output and real compensation per hour worked, and so forth. It is important to note that an average, known technically to statisticians as a “mean,” is only one way of describing the central tendency of any set of statistical data, and is not necessarily the one that produces the most representative number.

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If we are interested in the economic well-being of a typical American family (or household), we would probably judge that the best single number to characterize that well-being would be the standard of living of a family (or household) situated at the middle of the income distribution. Half of all families would have higher incomes and half would have lower incomes. This is the measure known as the “median,” and data on median incomes are presented in Chapter 3. Medians are not the same as averages or means, and in the case of income distributions, they are invariably lower. This difference is sometimes illustrated by the image of a millionaire walking into a working-class bar. The “average income” (mean income) of each person in the bar would jump, as a million dollars was added to the numerator of the average and just one unit was added to the denominator. However, the median would be little if at all changed, and this would accord with an accurate perception that the typical person in that bar had not experienced any increase in his income. Income means are not only higher than income medians: if the incomes of people at the upper end of the distribution increase faster than the incomes of those at the middle and bottom, then the means will also increase more than the medians. Once a year, as a supplement to the Current Population Survey, the Census Bureau collects data on a sample of individual household incomes that are used to produce a report on median incomes, the distribution of income, and the poverty rate. Income for families has been collected since 1947, though it is currently less emphasized than the data on households, which have been collected since 1967. Looking at the half-century trend, Chapter 3 shows that real median family cash income increased 1.9 percent from 1948 to 2000. This is less than the 2.2 percent increase in real per capita GDP (a mean) during that period and also less than the 2.1 percent increase in real mean family income that can be derived from the census income data. Had the median income increased as fast as the census mean—implying no change in the income distribution—the median family would have had over $6,000 more income in 2000, in that year’s dollars. The increasing inequality in the income distribution can also be seen by comparing the 1948 and 2000 income shares shown in Chapter 3. The top 20 percent of families received 47.7 percent of all income in 2000, compared with 42.4 percent in 1948. The shares of each of the lower four quintiles declined. There is also a more comprehensive measure of income inequality known as the “Gini coefficient,” which is discussed and shown in Chapter 3 and its notes and definitions. It can be argued that the postwar growth in real income and productivity required increasing rewards for the successful—absolutely, and also relative to other workers—so that the hypothetical potential increase just calculated for

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the median family could never actually occur. This is not a question that can be definitively answered—certainly not based on the kind of data available here—but it can be noted that productivity increases were quite rapid during the earlier postwar years, before the trend toward a more unequal income distribution began. (See Chapters 3 and 9.)

in Table B-3, which again uses 1967–2000 for the longerrun trend and compares the two most recent four-year recession-recovery periods.

Households is a broader and more comprehensive category than families, comprising family households, nonfamily households, and unrelated individuals. The Census Bureau has collected income data for households since 1967, and these data are the basis for poverty reports. See the notes and definitions to Chapter 3. Data on households and on year-round, full-time workers from the Census income and poverty reports are shown

The use of Census household and family data for longerterm comparisons has been criticized on the grounds that household and family size have been declining over time; because of this, the median household or family may have fewer earners and may support fewer people than in earlier years. To the extent that this is true, conclusions about changes in well-being based on median income may be unwarranted. To deal with this point, Table 3-3 in Business Statistics and Table B-3 here also include real median income for a four-person family.

Table B-3. Trend and Cycle in Household Income and Poverty (Percent change, annual rate, except as noted.) Classification

1967–2000

1990–1994

2000–2004

Real median household income ............................................................................. Real median income, families with four people ......................................................

0.9 1.4

-0.8 0.5

-0.9 -0.9

Real median earnings of full-time, year-round workers: Male ................................................................................................................... Female ...............................................................................................................

0.5 1.3

0.1 0.2

-0.04 0.9

Percent of population in poverty .............................................................................

1-2.9

11.0

11.4

1Percentage

point difference over total period, not at annual rate.

USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY From 1967 to 2000, real median household income grew at the same rate as real (mean) compensation at nonfinancial corporations, as shown in Table B-2. This is far from a foregone conclusion, since the two series share only one component, though a major one—wages and salaries. The median four-person family income rose faster than mean compensation. (Both measures are before taxes on wages and income. Compensation includes fringe benefits, as mentioned above, but household income does not. Household and family income includes Social Security payments and other nonwage sources of income such as welfare payments, interest, and dividends. See the notes and definitions to Chapter 3.) For the two recession-recovery periods, household and family income changes and median earnings changes for full-time workers can be compared with the real (mean) wages and salaries changes shown in Table B-1. In 1990–1994, wages and salaries rose at a 0.4 percent rate and income for the four-person family at an 0.5 percent rate; however, median earnings were nearly stagnant, median household income declined, and the poverty rate rose by 1 percentage point. In 2000–2004, despite the acceleration in productivity, the deterioration at the median was more clear-cut: while mean wages and salaries grew at a 1.0 percent rate, the median earnings of men declined, and both household and four-person family median incomes fell at an annual rate of 0.9 percent. The poverty rate rose 1.4 percentage points. It has been recently argued that median income and poverty lag behind the business cycle. Examination of Figure 3-1 will show that while this is indeed the case, the lags have been getting longer in recent years. The years 2000–2004 comprised the first span in which median income declined four years in a row. Inflation and unemployment A number of important price indicators are presented in Business Statistics, both in Chapter 8: Prices and Table 1-4, which shows chain-type price indexes for GDP and various subsectors. Users should note that price indexes measure the average level of prices, relative to some base year that is set to equal 100, while “inflation” is the annual percent rate of change in a price index. Accurate measurement of prices is challenging in a dynamic economy. Frequently, biases have been identified in the most widely used price indicators, the official Consumer Price Index for All Urban Consumers (CPI-U) and its close relative, the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). Improved methods to remove these biases are frequently introduced into the calculation of the indexes going forward, but the official indexes are not retroactively corrected. However, there are some alternative versions of the CPI that carry the current improved methodologies back for some historical period. These are presented in Business Statistics; see Table 8-1 and the associated notes and definitions. One of these alternatives, the CPI-U-RS,

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is used by the Bureau of Labor Statistics to calculate historical values of real compensation (Chapter 9), and by the Census Bureau to calculate historical values of real median income (Chapter 3). Because of this and other perceived shortcomings of the official CPIs, economists at the Federal Reserve, among others, pay particular attention to the chain-type price indexes for personal consumption expenditures in the national income and product accounts (NIPAs). The NIPA indexes use much of the same basic price data that are collected for the CPIs. However, they cover a somewhat broader universe of prices. In compiling the NIPA indexes, the Bureau of Economic Analysis processes the data in a more consistent fashion and regularly revises past data to correct biases. (See Table 1-4 and the notes and definitions to Chapter 1.) Still, all of these indexes tell a similar story about the behavior of the inflation rate over the postwar period. As the graph in Chapter 8 (Figure 8-1) shows, inflation was high in 1946 and 1947, as World War II price controls were dismantled and pent-up purchasing power from the war period was released. Prices declined in the 1949 recession but rose sharply in 1950 and 1951 with recovery and the outbreak of the Korean War. Inflation was negative again in 1955 in the aftermath of that war’s end and the 1954 recession. Inflation rose during two recoveries in 1956–1957 and 1960, but fell back to about 1 percent— generally judged to represent price stability because of remaining and irremediable biases in the price indexes— in the slack years of 1961 and 1962. However, as the 1960s progressed, the federal government embarked on a stimulative fiscal policy with the intent of attaining an unemployment rate lower than those observed in the 1950s and early 1960s. (See Table 10-3.) As the buildup in military spending for the Vietnam War progressed, fiscal policy became even more stimulative, without any attempt to raise taxes or cut back on other spending until late in the decade. (See Chapter 6.) Monetary policy tended to support the fiscal policy. An attempt was made to hold wages and prices down using voluntary “guidelines” in the early 1960s, but the guidelines collapsed in 1966, and inflation continued to accelerate during the sustained period of high employment through 1969. The 1970 recession failed to bring inflation down, and the 1971 recovery was weak. New expansionary moves to accelerate the recovery, including monetary stimulus and depreciation of the dollar, were undertaken along with new price controls. But the 1972 decline in inflation was short-lived, followed by new highs as the price controls collapsed and commodity prices soared. The 1975–1976 recession provided only a temporary and incomplete respite, and inflation soared to double digits with recovery and new commodity price shocks. Finally, under the impact of tough monetary policy that led to the 1981–1982 recession—the most severe of the postwar period—inflation ratcheted down to a core rate

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of about 4 percent during the 1982–1990 expansion. A recession in 1990 ushered in even lower inflation rates throughout the rest of the 1990s, despite the achievement of the lowest unemployment rates since 1969 (which occurred late in the decade). As the above narrative indicates, the 1950s and 1960s were characterized by an apparent inverse relationship, often interpreted as a “trade-off,” between inflation and high employment, with inflation falling as an apparent consequence of unemployment rising. By the 1970s, inflation became more stubborn and failed to respond proportionately and negatively to increases in unemployment. Indeed, at times inflation and unemployment rose together, a phenomenon known as “stagflation.” This has often been ascribed to “supply shocks”—for example, bad harvests, oil embargoes, and OPEC price increases— which, unlike decreases in aggregate demand, tend to increase inflation even while depressing output. But in retrospect, some supply shocks should perhaps be considered as delayed reactions to demand shocks. To give an important example, oil prices tend to increase when the dollar has declined, and they tend to fall during worldwide recessions—as they did in 1986. (See general price data in Chapter 8, oil price data in Chapter 11, and data on the international value of the dollar in Table 13-7.) Since a decline in the dollar is an expected consequence of expansionary monetary policy, the resulting increase in the price of oil could be considered part of the inflationary effect of such a policy. In attempting to explain stagflation, economists now take account of the role of expectations in maintaining the momentum of a given inflation rate. This mechanism is believed to explain the worsening of the tradeoff in the 1970s. However, economists were again surprised by the combination of low unemployment and low inflation in the late 1990s. The surprise was greater among those economists who looked to the unemployment rate as the sole measure of resource utilization. In fact, the level of capacity utilization also plays a role in determining to what extent changes in aggregate demand affect prices and to what extent they lead to expanded volume of production instead. Capacity utilization measures are not available for all sectors of the economy, but the Federal Reserve Board does maintain utilization series for the industrial sector. (See Table 2-3.) Average utilization of manufacturing capacity declined between the last three major business cycle peaks—from 1979 to 1989 and again from 1989 to 2000. This indicated less pressure on prices, helping to offset the effect of lower unemployment rates over the same intervals. The issues involved in the relationships between inflation, economic growth, and unemployment are far from settled. Debate continues about the relative roles of monetary policy, tax rates and other aspects of fiscal policy, global competition, other supply considerations, labor market institutions, and expectations.

With respect to monetary policy, Business Statistics provides data on the monetary and reserve aggregates in Tables 12-1 through 12-3. Rates of change in money and reserves have provided increasingly inaccurate forecasts of inflation and are not widely considered to be valid indicators of the state of monetary policy any more. (In fact, the Federal Reserve is discontinuing publication of M3, the broadest monetary aggregate.) The data on interest rates provided in Table 12-9—especially the federal funds rate, which is directly controlled by the Federal Reserve—are currently the subject of more attention in assessing the monetary policy stance. Table 12-9 now includes an estimate of the “real” (inflation-adjusted) federal funds rate, to shed more light on the size of the stimulative and inflationary effects of Federal Reserve policy. A market-based, longer-term real rate is included as well. War and the economy Figure 6-3 suggests the rather modest impact that federal spending on the wars in Afghanistan and Iraq is likely to have had on the U.S. economy as of fiscal year 2004. Relative to the value of GDP, defense spending increased from 3.0 percent in 1999–2001 to 3.9 percent in 2004, but was not much higher than at the low point of the postWorld-War-II demobilization (3.5 percent). It was lower than Korean War (1950–1953) levels, Vietnam War (1964–1975) levels, and 1980s defense buildup levels. Its increase was not as rapid as the 1980s buildup, which went from 4.6 percent of GDP in 1980 to 6.1 percent in 1983. (The 1990–1991 Gulf War was largely financed by U.S. allies, leading to a slight decline in the defense/GDP ratio.) Business cycle comparisons Business Statistics now also provides expanded data on earlier cyclical recoveries that users may compare with current data. The reference dates for business cycles from 1927 to date are shown in the notes and definitions to Table 1-8. Monthly and quarterly data for major indicators such as output, employment, and unemployment for the entire postwar period are shown in Chapters 19 and 20. In Chapter 18, annual data are shown going back to 1929. …and more This article has provided examples of the kinds of data analysis newly possible with this expanded version of Business Statistics. Many other possibilities are available. Detail by industry is shown in Chapters 9, 10, and 15 through 17. Regional detail is shown in Chapter 21. Information on business and consumer balance sheets can be found in Chapter 12. The editor anticipates that users will find this volume even more useful than previous editions, and welcomes input on ways to make it more helpful still. The editor can be contacted via email at [email protected].

USING THE DATA: THE U.S. ECONOMY IN THE NEW CENTURY Endnotes 1Some economists assert that 2000 does not represent a sustainable level of economic activity. There was some rise in inflation in 2000, but it was modest compared with the acceleration in 1948. (See Table 8-3.) If both peaks were somewhat above sustainability, it would not necessarily invalidate the calculation of growth rates between them. 2In earlier years, it would not have been surprising to have a full peak-to-peak cycle included within a four-year span. Of the

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eight complete cycles between 1945 and 1981, five were 49 months or less from peak to peak. However, the two complete cycles since that time lasted 108 months (July 1981 to July 1990) and 128 months (July 1990 to March 2001). After the severe 1981–1982 recession, which squeezed out the inflation of the 1970s, recessions have become less frequent and changes in both directions have become less volatile. See the business cycle chronology in the notes and definitions to Chapter 1, and Figures 1-1, 1-3, 2-1, and 8-1.

SPECIAL NOTES: STATISTICAL ISSUES AND PITFALLS

Almost every day, some new set of information on the economy is released—a new estimate of the latest quarter’s gross domestic product, new figures on employment and unemployment, or a new month’s inflation rate. Politicians, pundits, and stock market gurus give instant opinions on the significance of the new numbers. One of the purposes of Business Statistics is to provide background information and perspective on this daily stream of new and updated economic data, and thus to help users of this book make their own informed judgments. Sometimes the very richness of U.S. economic data makes comparison and analysis difficult for people who are not already familiar with the intricacies of the system. For example, one government agency issues two different estimates each month of what at first glance would seem to be the same thing, “employment.” More generally, the constant labors of statistical agencies to incorporate new information and new understanding of the economy lead to frequent revisions of data. To help users with these difficulties, the notes and definitions at the end of each chapter in Business Statistics explain concepts, definitions, measurement methods, and revision procedures. In these special notes, the editor will further expand the discussion of some important issues. The measurement of employment and the measurement of employee compensation per hour get much attention, interpretation, and misinterpretation. The first two sections of the special notes will discuss these series. The second of these sections also includes an “Early Warning” about an impending change in the monthly reporting of worker hours and earnings. Next, there will be a brief comment on several new measures of poverty and one additional income indicator that are introduced in Chapter 3. Finally, the editor will discuss the measurement of unemployment in the Great Depression, an issue raised in Business Statistics by the extension of the data in Chapter 18 back to 1929. Measures of employment Each month, the Bureau of Labor Statistics updates two distinct measures of aggregate employment in the U.S. economy. One measure, total civilian employment, is a count of the number of civilians holding jobs. It is derived from a large sample survey of households (the Current Population Survey, or CPS) and periodically benchmarked to population levels or “controls” established by the decennial census and other more comprehensive data. The other measure is nonfarm payroll employment. It is derived from a very large sample of employers (Current xxxvi

Employment Statistics, or CES) and is benchmarked each year to a comprehensive, near-complete count of employment from the records of the unemployment insurance system. Financial market participants, including the Federal Reserve Chairman and other analysts at the Federal Reserve Board, typically read the CES numbers—specifically, the change in total payroll employment and/or the change in private payroll employment—as key indicators of the current course of the economy. This survey’s large sample size and consequent relative stability make it relatively easy to distinguish the “signal” from the “noise.” According to BLS, the size of the over-the-month change in employment required to be statistically significant is plus or minus 436,000 in the CPS series but only plus or minus 103,000 in the CES series. In recent years, some analysts have noticed that the CPS has shown a stronger employment trend, and have suggested that it is a better measure. Analysts who give preference to CPS employment point out that it includes selfemployment, which is omitted by definition from the CES. (Self-employment is shown in Table 10-2.) In addition, they hold that because the CPS is a survey of households, it is not subject to the potential bias of the employer survey, which is that it fails to pick up new businesses until the annual benchmark. However, there is also an important point to be made about potential bias and distortion in the CPS, which arises from the fact that it is anchored in projections of the total population. If these projections are in error— and they have been in the past, due to misestimates of international migration—then the errors will carry through to the estimates of the number employed. (On the subject of population projections and revisions, see the box, “A Note of Caution About Data Revisions” in the preceding article “Using the Data: The U.S. Economy in the New Century.”) Furthermore, when the population controls are revised to reflect new information from the decennial census or new migration estimates, the adjustments are introduced in a lump sum in a single month, usually January. This makes for a discontinuity between the two adjoining months, instead of spreading the correction over the months or years during which the misstatement emerged. The notes and definitions to Tables 10-1 through 10-5 explain the adjustments that have been made from 1953 through 2005, including the size and direction of each adjustment. CES benchmark adjustments, on the other hand, are “wedged” back to the previous benchmark month, resulting in a smoother and more realistic pattern of revision. In addition, because the CES is a survey of employers, it

SPECIAL NOTES will not be biased by errors in population estimates due to faulty estimates of migration. In the late 1990s, unlike in the more recent period, the CES showed greater employment growth than the CPS—a difference that was narrowed when new population numbers caused upward adjustment of CPS employment. Furthermore, the CES now uses a model-based procedure to estimate the employment resulting from the births of new firms each month. The success of this model can be assessed each year by the size and direction of the benchmark adjustment to the level of total employment that is revealed by the unemployment insurance records. There were downward revisions—indicating overestimates of business births—to payroll employment in March of 2001, 2002, and 2003. The revision of March 2004 was upward by 203,000 jobs, or about one month’s worth of healthy job growth. The revision for March 2005, which will be incorporated into the published data in February 2006, will be a downward revision of 191,000, or 0.1 percent. The average revision for the last 10 years has been plus or minus 0.2 percent. Each month, BLS publishes (along with the release of the latest monthly employment and labor force data) an extensive article on its Web site that details the characteristics of both employment series and calculates, for comparison with the CES payroll employment series, an “adjusted household survey” which makes all feasible adjustments for definitional differences and smooths the population control revisions. As Business Statistics went to press, the latest article was “Employment from the BLS Household and Payroll Surveys: Summary of Recent Trends.” (December 2, 2005) This version is the source for the estimates of statistical significance cited above and for the BLS judgments quoted below. According to BLS, the adjustments for definitional differences and population control smoothing “provide a partial explanation for the employment trend differences.” Other differences remain, some of which are not readily measured or quantified, as well as others that continue to be explored. BLS concludes that “both the payroll and household surveys are needed for a complete picture of the labor market. The payroll survey provides a highly reliable gauge of monthly change…[and] offers industry and geographic information at very detailed levels. The household survey provides a broader picture of employment including agriculture and the self employed, as well as detailed information on the demographic composition of the employed and the unemployed.” The editor of Business Statistics agrees with these judgments, and also agrees with the large number of practiced analysts who treat the change in payroll employment as an essential barometer of the health of the U.S. economy. Measures of employee compensation Hourly earnings, wages, salaries, compensation—each of these terms is used to describe at least one data series in the U.S. statistical system, and each appears in at least

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one of three different data sets presented in Business Statistics. (Additional, more detailed data on labor compensation are presented in the Handbook of U.S. Labor Statistics, also from Bernan Press.) It is important for the user to understand the characteristics of each of these series in order to select the one most suited for his or her purpose. Wages typically mean “gross” amounts per hour paid to hourly workers. “Gross” in this context indicates inclusion of the values of withheld income and payroll taxes, dues, and any other withheld amounts. “Gross” wages do not include the employer share of payroll taxes for social insurance or the cost of employer-provided benefits, such as pensions and health insurance. Measures of wages and salaries together are presented in Chapter 9 and measures of hourly earnings are presented in Chapter 10, with precise definitions of each in the notes and definitions to those chapters. Salaries represent “gross” amounts paid to those who are paid by the week, month, or year rather than by the hour. Measures of wages and salaries together are presented in Chapter 9, and salaried production or nonsupervisory workers are included in the hourly earnings measures in Chapter 10. As with wages, salaries do not exclude personal and payroll taxes on the individual or other amounts withheld, but do exclude the cost of employerpaid benefits and payroll taxes. Compensation includes wages and salaries as defined above plus the employer-paid payroll taxes and benefit costs. Compensation thus represents the total cost of labor to the employer. Wages and salaries represent the gross taxable income to the employees. Only one measure in this book represents net spendable income after all income and payroll taxes—personal disposable income, which can be found in Chapter 4. Personal disposable income includes not only labor income but also all forms of capital income. It is not available by industry or by income level. It is shown on a per capita basis, with the denominator being the total U.S. population. Like all other income averages, per capita disposable income is a mean, and because of the skewed distribution of income, is biased upward as a measure of the income of a typical or median individual. (See “Whose standard of living?” in the preceding article “Using the Data.”) There are no currently reported measures of the narrower concept of “worker take-home pay,” but in the absence of any change in tax rates, the rate of change in worker paychecks can be inferred from the rate of change in a relevant measure of wages and salaries or weekly earnings. Probably the principal use for compensation series, the use emphasized by Federal Reserve economists, is as an indicator of inflationary cost pressure. Labor costs represent about two-thirds of the cost of production. If labor

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costs rise faster than productivity, either from the effects of a tight labor market or from some external cause such as a rise in payroll taxes or health benefit costs, the result can be a rise in unit labor costs and upward pressure on prices. For this reason, unit labor costs is a widelywatched indicator. In evaluating trends in compensation, the differences between the two series presented in Chapter 9 are important. The notes and definitions for that chapter explain each one in a General Note and in the specific notes for each table. The compensation component of the productivity and costs measures (Table 9-4) is simply an average of all compensation divided by all labor input, and will increase if there is a shift in the composition of output toward industries that pay their employees more, even if no individual worker experiences any increase in his or her hourly or weekly earnings. However, high-pay industries are typically high-productivity industries, and a shift toward those industries will also register as an increase in productivity even if productivity is unchanged in each individual industry. Thus, such a shift in the composition of output will not increase labor cost per unit of output or inflationary pressure. In contrast, the Employment Cost Index (ECI) (Tables 91 through 9-3) holds constant the composition of employment in order to isolate trends in hourly wages, salary rates, and compensation rates for individual occupations. One appropriate use of ECI measures would be to test the relationship of the unemployment rate or other measures of labor market tightness to the rate of change in wages per unit of labor. Compensation per hour from the productivity and cost data set would not be appropriate for such uses because of its susceptibility to distortion from changes in the industry mix. The Employment Cost Index includes sales commissions in its measures of wages and salaries. Since these are subject to temporary fluctuations that may not reflect underlying cost trends, ECIs excluding the sales occupations are also calculated and published. Currently, the cost of stock options issued to employees is not included in the Employment Cost Index, and is included in the compensation component of the productivity measures only with a lag. As illustrated in the notes and definitions, this has led to large revisions in compensation per hour in some recent periods. Whether this is a significant failing in the Employment Cost Index depends on the extent to which employees accept stock options as a substitute for demanding higher salaries and/or benefits. Obviously, stock options can be a significant addition to employee income and wealth, and their addition to employee purchasing power should be recognized (subject to the definition of income in the national income and product accounts [NIPAs], which excludes the capital gains component of any stock-market-related transaction). However, for many businesses and economists, the whole point of using stock options or stock for compen-

EARLY WARNING: CHANGE IN REPORTING OF HOURS AND EARNINGS An important change to the CES monthly hours and earnings series is under way. According to the BLS, data on hours and earnings of production or nonsupervisory workers “have become increasingly difficult to collect, because these categorizations are not meaningful to survey respondents. Many survey respondents report that it is not possible to tabulate their payroll records based on the production/nonsupervisory definitions.” Consequently, BLS will collect data on the hours and regular earnings of all employees and, in addition, data on gross monthly earnings including “irregular payments.” Publication of these new series on an experimental basis is scheduled for mid-2006. Publication of official series on the new basis is scheduled for early 2007, and publication of the series on hours and earnings of production or nonsupervisory workers will be discontinued in early 2010. (“Recent and Planned Changes to the Current Employment Survey.” [August 29, 2005. . Accessed on December 22, 2005.]) This change is expected to increase the timeliness and accuracy of U.S. income estimates, but it may also lose some useful information. Some users value the production/nonsupervisory worker data precisely because the higher echelons of supervision are not included. They may take a particular interest in the welfare of ordinary working people.1 They may hold that “cost pressures” arising from management salaries are less important in the inflationary process than worker wages. Or they may fear that inclusion of very high salaries for a few managers will bias upward the measures of earnings per employee, making them less useful as gauges of worker living standards. (See “Whose standard of living?” in the article “Using the Data.”) For these reasons, publication of the new all-employee series beginning in 2006 will be watched with great interest. In the new North American Industry Classification System (NAICS), there is a separate industry for establishments whose main function is “management of companies and enterprises.” If the hours and earnings for this category can be published separately, and/or if hours and earnings can be published both with and without this category, it may help shed light on the amount of upward skewing of average wage data and the significance of any concerns about the cessation of reporting for production/supervisory workers. sation is that they do not become part of the permanent labor cost structure in the way that an increase in wage rates does. If this is the motivation or result of using stock options, such increases in compensation should not be considered to be a rise in inflationary cost pressures.

SPECIAL NOTES Hourly earnings, as presented in Chapter 10, are a major source for the aggregate compensation measures in productivity and costs. They are reported monthly at the beginning of the following month, far more promptly than the quarterly measures, and they represent the production or nonsupervisory workers that make up about four-fifths of the labor force, based on the very large sample survey of employers (CES, described in the preceding section). Hourly earnings are described in the notes and definitions to Chapter 10; they exclude stock options and fluctuate as the composition of output and employment fluctuates between high- and low-pay industries. Weekly earnings, based on these hourly earnings data, are an important component of personal income and thus a major determinant of consumer income and purchasing power. In the monthly employment report, hourly earnings give an early, if imperfect, indicator of inflationary wage pressures, subject to refinement and re-interpretation as the ECI data become available. Weekly earnings give an early look at the latest income developments. Issues about poverty and income The official U.S. poverty rate has been widely criticized in recent years. The notes and definitions to Chapter 3 itemize the problems with both the poverty threshold and the measures of income and other resources that are compared with that threshold to determine poverty. In Chapter 3, Business Statistics presents, for the first time, alternative poverty rates calculated by the Census Bureau based on recommendations by a special panel of the National Academy of Sciences. Poverty rates for 1999 through 2003 are shown according to 12 different possible measurement methods. All of the methods update both the definition of the poverty threshold and the definition of the resources available to families and individuals. The 12 measures differ from each other according to their methods of treating medical needs and expenses, their accounting for regional cost differentials, and their methods for updating the initial (1999) poverty threshold. All of the new measures start out higher than the official measure, though, for some of them, the 1999 difference is small. Six of them behave similarly to the official measure over the five years available, falling from 1999 to 2000 and then edging up, with a relatively large rise in 2003. All six rise less than the official measure, however. The official measure rises 0.6 percentage points from 1999 to 2003, while the increases for the six similar measures range from 0.3 to 0.5 percentage points. (One of these six—one that is featured in Table 3-13 in Business Statistics, with medical out-of-pocket expenses included in the thresholds and geographic adjustment of shelter costs, updated using the CPI—is compared with the official poverty rate in Figure 3-4.) The smaller increases appear to reflect the inclusion in the new measures of programs such as the earned income tax credit, that are not included in household income in the official poverty measure.

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The second six measures behave quite differently. Although they share the same definitions of family resources, they show the poverty rate rising or unchanged even in 2000—a year in which nonfarm payroll jobs increased 2.2 percent and the unemployment rate fell from 4.2 to 4.0 percent. Between 1999 and 2003, they rise between 1.3 and 1.7 percentage points, compared with 0.6 points for the official rate and 0.3 to 0.5 points for the first six. Why are these six rates so unresponsive to general business conditions, and why do they rise faster than the official rate and the first six measures? The reason is that they update the poverty threshold using the reference families’ actual spending for the set of goods in the threshold (as measured in the Consumer Expenditure Survey, or CE) instead of updating only for price increases. Using the CE in this way would represent a marked change in the concept of poverty. Up until now, the poverty threshold has been considered to be a level of income sufficient for a modest subsistence. Since this is an absolute standard—not a relative standard—it can be maintained over time by updating for price change only. Of course, the initial definition of modest subsistence is inherently arbitrary, and there are measurement issues concerning the price change indicator, as discussed in the notes and definitions to Chapter 3; nevertheless, the concept is clear. When the real threshold is fixed, it is conceivable that with strong economic growth and increased assistance to people at the lowest income levels, poverty might be all but eliminated—the poverty rate reduced to near zero— as incomes rose above the fixed subsistence threshold. Presumably, this is what people have in mind who advocate the ending of poverty as a policy goal. In contrast, updating a poverty threshold using actual spending means that as real standards of living rise, the poverty threshold would rise in real terms, and provide a higher standard of living than the poverty threshold in the base year. The reverse would be true in years of general economic decline—the threshold would decline along with the overall level of consumer spending. The concept of a constant subsistence level of living will have been abandoned. Poverty would fail to fall in years of growth, and fail to increase in depressions. There would be no objective standard for judging to what extent the basic needs of the people were being met, and ending poverty could not be a plausible policy objective. On a different issue, the use of any median household income measure as an indicator of general economic welfare has been criticized, on the grounds that the average size of households has been declining. Over a long period of time, slower growth in median household income may reflect fewer earners and/or fewer mouths to feed, not slow growth in the welfare of individual household members. To provide some perspective on this issue, Business Statistics has added one of a number of available Census Bureau series holding household or family size constant to

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Table 3-3, the median income for four-person families. This table shows that from 1947 to 2004, real median family income for all families rose at a 1.6 percent annual rate, while median income for four-person families rose at a 1.8 percent annual rate—higher than the all-family median but still below the national average rate of productivity increase, which was 2.5 percent for all businesses.

Works Administration (CWA), the Federal Emergency Relief Administration, the Works Progress Administration (WPA), and the Civilian Conservation Corps (CCC). They worked for a government paycheck. It seems likely that when surveyed with the current CPS questions, these workers would have counted themselves, and been counted, as employed.

Size of household is not a problem for shorter-term comparisons; for example, average household size was 2.58 persons in 2000 and 2.57 persons in 2004. It does not distort the poverty statistics, because the poverty threshold varies with the size of family.

During the 1930s, the Department of Commerce did not calculate GDP but did make estimates of national income, the income counterpart of net national product (see notes and definitions to Chapter 1). These estimates of income included the wages of employees of the work-relief programs, and they continue to be included in the latest BEA estimates of income and product in the 1930s. (Email communications between the editor and BEA staff)

Unemployment in the Great Depression This year, the editor decided to include annual data depicting the U.S. economy all the way back to 1929 in Chapter 18. Comprehensive NIPA data are available for that period, consistent in concept with the current data, and it was a matter of little difficulty to extend data tables back to include both World War II and the period known as the Great Depression. The Great Depression was a period of great economic and political upheaval. Perhaps we should not be surprised that even three-quarters of a century later, economists are still examining the issues and the data from that period. Indeed, the scholar who has been nominated to be the next Chairman of the Federal Reserve Board, Ben Bernanke, is known for studies of the causes of the Great Depression. (Wall Street Journal, December 7, 2005, p. 1) In the discussion that follows, the editor draws on communications with the staff of the Bureau of Economic Analysis (BEA) and various published studies, which are listed in the bibliography at the end of this section. The issue raised by the decision to publish labor force data is whether persons on work relief in the Great Depression were employed or unemployed. If unemployment had been measured then, using the survey questions that we use now, it seems probable that they would have been counted as employed. The basic CPS question about employment is, “Last week, did you do any work for pay?” If the household encompasses a farm or other business, the question is “Did you do any work for either pay or profit?” If the answer is no, the next question is “Did you do any unpaid work in the family business or farm?” Anyone answering yes to any of these questions is counted as employed, including if the subject had a job from which he or she was temporarily absent. (BLS Technical Paper 63RV. [March 2002. . Accessed on December 22, 2005.]) There is no issue about employment on projects such as the dams and roads built by the Public Works Administration (PWA). These were carried out under contracts with private industry. All sources of employment data include workers under those contracts as employed. What is at issue is the status of workers in the government work-relief programs known as the Civil

It should be made clear that although there may have been (as was often said) some “leaf-raking” and other forms of make-work in these programs, there was also real work producing real output. There was work done on hospitals, highways, streets, and other buildings, which BEA not only counts as output but also includes in investment and the capital stock. (Email communications with BEA staff) Other WPA projects known to the editor include the writing and publication of comprehensive guides to every state and many cities, which are still used as reference works, and painted reproductions of American folk art, still available for exhibition and study in the National Gallery of Art as the Index of American Design. One CCC project still in existence is the wildlife reserve at Pea Island, N.C. In the 1940s, when unemployment was retrospectively estimated for the 1930s, different economists—not the ones at the Department of Commerce—were involved and a different decision was made. The work relief programs were not expected to be permanent, and participants were supposed to be available, and indeed looking, for private-sector employment. The 1940 census that provided the labor force and unemployment benchmark counted work relief employment as unemployment, and the method used by Stanley Lebergott and the similar approach used by the Bureau of Labor Statistics (BLS) to interpolate unemployment estimates between 1930 and 1940 made the same assumption, grounded in the concept that unemployment meant a “lack of regular work.” (Kesselman and Savin) The size of this difference is not trivial. In 1936, work relief employment by all levels of government amounted to 3.7 million workers, nearly 10 percent of all jobs, according to the NIPA employment estimates. (Table 18-2) Michael Darby challenged the BLS and Lebergott unemployment rates in an article in the Journal of Political Economy in 1976, entitled “Three-and-a-Half Million U.S. Employees Have Been Mislaid.” The editor of Business Statistics finds his arguments persuasive and has accordingly published his unemployment rate estimates in Table 18-4, along with the BLS series that has

SPECIAL NOTES appeared in official government publications. (See references in the notes and definitions to Chapter 18.) Not every economic researcher has adopted the Darby unemployment rate series. A major problem for economic historians of that period is the relationship of unemployment to wages. With unemployment so high, why didn’t wages come down more? Alternatively, did unemployment remain high because wages didn’t come down? For either question, different unemployment rates can imply different answers, and several researchers have found that the BLS rates seem to work better in their models. One research paper maintains that “relief workers behaved like the rest of the unemployed”—they were available and searching for jobs. (Kesselman and Savin) (However, the current CPS does not ask people with a job whether they searched for jobs. It only asks that question of people who do not have jobs.) In the end, some researchers concluded that relationships that seem to characterize the U.S. economy most of the time break down in the 1930s. Christina Romer, after extensive historical research, writes that the Great Depression was an anomaly—“a complete collapse of what had previously been a reasonably stable economy.” Kesselman and Savin, though finding that the BLS unemployment rate worked somewhat better than the Darby rate, admitted that the natural-rate model of unemployment does not work well in deep depression. Many users are not concerned with these models of the labor market and may be more interested in an unemployment rate that indicates the percent of the labor force that was drawing no paycheck, or that was not producing output. Such users should find the Darby unemployment rate more meaningful.

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before the Committee on Financial Services, U.S. House of Representatives, July 20, 2005,” Serial No.109-47, U.S. Government Printing Office. [p. 37])

References Darby, Michael. 1976. Three-and-a-half million U.S. employees have been mislaid, or, an explanation of unemployment, 1934–1941. Journal of Political Economy 84 (1). Goldberg, Joseph P., and William T. Moye. 1985. The First Hundred Years of the Bureau of Labor Statistics (BLS Bulletin 2235). Washington, D.C.: Government Printing Office. Kesselman, Jonathan R., and N.E. Savin. 1978. Three-anda-half million workers never were lost. Economic Inquiry XVI (2). Margo, Robert A. 1993. Employment and unemployment in the 1930s. Journal of Economic Perspectives 7 (2). Romer, Christina. 1986. Spurious volatility in historical unemployment data. Journal of Political Economy 94 (1). Smiley, Gene. 1994. The American Economy in the Twentieth Century. Cincinnati: South-Western Publishing. U.S. Department of Commerce. Bureau of Economic Analysis. 1973. Long-Term Economic Growth, 1860–1970. Washington, D.C.: Government Printing Office. 163, 213. U.S. Department of Labor. Bureau of Labor Statistics. Current Population Survey: Design and methodology (Technical Paper 63RV). (March 2002). . (Accessed on December 22, 2005.)

Endnotes 1Federal

Reserve Chairman Alan Greenspan cited the contrast between the growth in the earnings of production/nonsupervisory workers and those of supervisory and professional workers in a discussion of the “bivariate income distribution,” which he regards as “not healthful.” (Answers to Members’ questions in “Monetary Policy and the State of the Economy: Hearing

Wallis, John Joseph, and Daniel K. Benjamin. 1981. Public relief and private employment in the Great Depression. Journal of Economic History 41 (March 1981): 97-102. Weir, David R. 1986. The reliability of historical macroeconomic data for comparing cyclical stability. Journal of Economic History 46: 353–365.

GENERAL NOTES

These notes provide general information about the data in Tables 1-1 through 21-2. Specific notes and definitions providing information about data sources, definitions, methodology, revisions, and sources of additional information follow the tables in each chapter. Main Divisions of the Book The tables are divided into four main parts. Part A (Tables 1-1 through 13-6) pertains to the U.S. economy as a whole. Generally, each table presents annual averages for the full period since World War II, or as far back as available, and quarterly or monthly values for the most recent year or years. (Full quarterly or monthly histories for major series are shown in Part C.) Some chapters present data for the United States only in aggregate, while others—such as the chapters concerning industrial production, capital expenditures, and employment, hours and earnings—also have detail for major industry groups. Data by industry on industrial production (Tables 2-2 and 2-3); capital expenditures (Table 5-11); profits (Table 9-6); and payroll employment, hours, and earnings (Tables 10-7 through 10-12) are classified using the new North American Industry Classification System (NAICS), as far back as such data are made available by the source agencies. Part B focuses on the individual industries that together produce the gross domestic product (GDP). • Chapter 14 provides an overview of NAICS, presenting the overall structure of the classification system, the definition of each major industry group, and the approximate relationships of each group to the industries in the old Standard Industrial Classification (SIC) system. • Chapter 15 contains data on value added (GDP) by industry, using NAICS for the years 1998–2004 and SIC for 1987–2000. • Chapter 16 provides further detail on payroll employment, hours, and earnings classified according to NAICS. • Chapter 17 presents various data sets for key economic sectors. Some of the tables are based on definitions of products, rather than producing establishments, and are valid for either classification system. This is the case for Tables 17-1, Petroleum and Petroleum Products; 17-2, New Construction; 17-3, Housing Starts and Building Permits, New House Sales, and Prices; and 17-8, Motor Vehicle Sales and Inventories. Tables 17-4 through 17-7 and 17-9 through 17-11, which cover manufacturing and retail and wholesale trade, show overlapping data for the year 1992 using the old and new classificaxlii

tion systems. This preserves the old-basis historical record for the years prior to 1992. Tables 17-14 and 17-15 for services industries also present data on the NAICS basis, while 17-12 and 17-13 show overlapping data for earlier years on SIC. The 1987 SIC is published in Standard Industrial Classification Manual, 1987, Executive Office of the President, Office of Management and Budget (Washington, DC: U.S. Government Printing Office, 1988). NAICS is fully described in U.S. Office of Management and Budget, North American Industry Classification System: United States, 2002, published by Bernan Press in 2002. Additional information is available on the Census Bureau Web site at . Part C presents further historical detail. Chapter 18 shows selected data for the years 1929–1948. These are shown on an annual basis only, as many of the series are not available quarterly or monthly. Chapters 19 and 20 present quarterly or monthly data back to the earliest postwar year available for major series; the corresponding annual values are shown in Part A. Part D presents data by state and region, calculated by the Bureau of Economic Analysis, available on an annual basis only. Table 21-1 contains data on GDP, and Table 21-2 shows personal income, population, and employment. Characteristics of the Tables and the Data The subtitles or column headings for the data tables normally indicate that the data are “seasonally adjusted” or “not seasonally adjusted” or “at a seasonally adjusted annual rate.” These headings refer to the monthly or quarterly, rather than the annual, data. Annual data by definition require no seasonal adjustment. Annual values are normally calculated as totals or averages of unadjusted data, and such values are used in either adjusted or unadjusted data columns, or in both. Seasonal adjustment removes from the time series the average impact of variations that normally occur at about the same time each year due to occurrences such as weather, holidays, and tax payment dates. A simplified example of the process of seasonal adjustment, or deseasonalizing, can indicate why it is so important for the interpretation of economic time series. Statisticians compare actual monthly data for a number of years with “moving average” trends of the monthly data for the 12 months centered on each month’s data. For example, they may find that in November, sales values are usually about 95 percent of the moving average, while in December, usual sales values are 110 percent of

GENERAL NOTES the average. Suppose that actual November sales in the current year are $100 and December sales are $105. The seasonally adjusted value for November will be $105 ($100/0.95) while the value for December will be $95 ($105/1.10). Thus, an apparent increase in the unadjusted data turns out to be a decrease when adjusted for the usual seasonal pattern. The statistical method used to achieve the seasonal adjustment may vary from one data set to another. Many of the data are adjusted by a computer method known as X-12 ARIMA, developed by the Bureau of the Census. A description of the method is found in “New Capabilities and Methods of the X-12 ARIMA Seasonal Adjustment Program,” David F. Findley, Brian C. Monsell, William R. Bell, Mark C. Otto and Bor-Chung Chen, Journal of Business and Economic Statistics, April 1998. A preprint version of this article can be downloaded from the Bureau of the Census Web site at . Data presented at annual rates show values at their annual equivalents—the values that would be registered if the rate of activity measured during a particular month or quarter were maintained for a full year. Specifically, seasonally-adjusted monthly values have been multiplied by 12 and quarterly values by four to yield annual rates. Detail may not add to totals due to rounding. Since annual data are typically calculated by source agencies as the annual totals or averages of not-seasonally-adjusted data, they therefore will not be precisely equal to the annual totals or averages of monthly seasonally-adjusted data. Seasonal adjustment procedures are typically multiplicative rather than additive, and as a result, seasonally-adjusted data may not add or average to the annual figure. Most of the data in this volume are from federal government sources and may be reproduced freely. A few series are from private sources and are used with permission; further use may be subject to copyright restrictions. A list of data sources is shown below. The tables in this volume incorporate data revisions and corrections released by the source agencies through November 2005. Data Sources Most of the data in this volume are from the government agencies and private sources listed below. The specific source(s) for each individual data set is identified at the beginning of the notes and definitions for the relevant data pages.

xliii

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xliv

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

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PART A THE U.S. ECONOMY

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS Section 1a: Gross Domestic Product: Values, Quantities, and Prices

Figure 1-1. Output Per Capita, 1946–2004 (ratio scale) 40,100

2000 Dollars

29,700

22,000

16,300

12,100

1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• Output of goods and services in the United States, expressed in constant 2000-value dollars to remove the effect of inflation (real gross domestic product, or GDP), rose from $1.64 trillion in 1948 to $9.82 trillion in 2000—comparable high points in the business cycle. (Table 1-2) This was a nearly sixfold increase in real value over the 52-year period, with an average growth rate of 3.5 percent per year. From 2000 to 2004, the rate of annual growth was 2.3 percent. • Real GDP per capita—the average value of production for each man, woman, and child in the population—rose from $11,206 (2000 dollars) in 1948 to $34,759 in 2000, a rate of 2.2 percent per year. From 2000 to 2004, the annual growth rate was 1.3 percent. (Table 1-7) This value is charted in the graph above. It is graphed on a “ratio scale,” with equal vertical distances signifying equal percent changes. • The graph indicates that growth is not always smooth or uninterrupted. There are periods of leveling off or decline, marking the periods identified as recessions in economic activity. (Table 1-8 and the associated notes and definitions) • Measured in current dollars, the value of GDP rose even faster, reflecting increases in the average price level. Current-dollar GDP rose from $269 billion in 1948 to nearly $12 trillion in 2004. (Table 1-1) The price level in 2004 was more than 6.5 times that in 1948, reflecting an average inflation rate of 3.4 percent per year. (Table 1-5) Annual rates of increase in the chain-type price index for GDP ranged from 9 percent or more in 1947, 1974–1975, and 1980–1981 to changes of no more than 1.2 percent in 1949–1950, 1954, 1959, 1961, 1963, and 1998. Over the last 10 years, inflation averaged 1.9 percent.

3

4

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-1. Gross Domestic Product (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.1.5, 5.6.5A, 5.6.5B

Gross private domestic investment Year and quarter

Gross domestic product

Personal consumption expenditures

Fixed investment Total

Nonresidential

Residential

Exports and imports of goods and services

Government consumption expenditures and gross investment

Change in private inventories Net exports Nonfarm

Exports

Imports

Total

Federal

Farm

State and local

1946 1947 1948 1949

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

222.3 244.2 269.2 267.3

144.3 162.0 175.0 178.5

31.1 35.0 48.1 36.9

17.3 23.5 26.8 24.9

7.8 12.1 15.6 14.6

6.2 1.2 3.0 -2.1

-0.2 -1.8 2.7 -0.6

7.2 10.8 5.5 5.2

14.2 18.7 15.5 14.5

7.0 7.9 10.1 9.2

39.6 36.4 40.6 46.7

28.9 22.7 24.2 27.7

10.8 13.7 16.3 19.0

1950 1951 1952 1953 1954

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

293.8 339.3 358.3 379.4 380.4

192.2 208.5 219.5 233.1 240.0

54.1 60.2 54.0 56.4 53.8

27.8 31.8 31.9 35.1 34.7

20.5 18.4 18.6 19.4 21.1

5.9 8.9 2.1 1.2 -2.1

-0.1 1.0 1.4 0.7 0.2

0.7 2.5 1.2 -0.7 0.4

12.4 17.1 16.5 15.3 15.8

11.6 14.6 15.3 16.0 15.4

46.8 68.1 83.6 90.6 86.2

26.0 45.1 59.2 64.4 57.3

20.7 23.0 24.4 26.1 28.9

1955 1956 1957 1958 1959

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

414.8 437.5 461.1 467.2 506.6

258.8 271.7 286.9 296.2 317.6

69.0 72.0 70.5 64.5 78.5

39.0 44.5 47.5 42.5 46.5

25.0 23.6 22.2 22.3 28.1

5.6 4.9 0.7 -2.3 5.5

-0.6 -1.0 0.1 2.0 -1.6

0.5 2.4 4.1 0.5 0.4

17.7 21.3 24.0 20.6 22.7

17.2 18.9 19.9 20.0 22.3

86.5 91.4 99.7 106.0 110.0

54.9 56.7 61.3 63.8 65.4

31.6 34.7 38.3 42.2 44.7

1960 1961 1962 1963 1964

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

526.4 544.7 585.6 617.7 663.6

331.7 342.1 363.3 382.7 411.4

78.9 78.2 88.1 93.8 102.1

49.4 48.8 53.1 56.0 63.0

26.3 26.4 29.0 32.1 34.3

2.7 2.1 5.5 5.1 6.0

0.6 0.9 0.6 0.5 -1.2

4.2 4.9 4.1 4.9 6.9

27.0 27.6 29.1 31.1 35.0

22.8 22.7 25.0 26.1 28.1

111.6 119.5 130.1 136.4 143.2

64.1 67.9 75.3 76.9 78.5

47.5 51.6 54.9 59.5 64.8

1965 1966 1967 1968 1969

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

719.1 787.8 832.6 910.0 984.6

443.8 480.9 507.8 558.0 605.2

118.2 131.3 128.6 141.2 156.4

74.8 85.4 86.4 93.4 104.7

34.2 32.3 32.4 38.7 42.6

8.4 14.1 9.0 7.7 9.2

0.8 -0.5 0.9 1.4 0.0

5.6 3.9 3.6 1.4 1.4

37.1 40.9 43.5 47.9 51.9

31.5 37.1 39.9 46.6 50.5

151.5 171.8 192.7 209.4 221.5

80.4 92.5 104.8 111.4 113.4

71.0 79.2 87.9 98.0 108.2

1970 1971 1972 1973 1974

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

1 038.5 1 127.1 1 238.3 1 382.7 1 500.0

648.5 701.9 770.6 852.4 933.4

152.4 178.2 207.6 244.5 249.4

109.0 114.1 128.8 153.3 169.5

41.4 55.8 69.7 75.3 66.0

2.8 6.6 8.8 14.4 16.8

-0.8 1.7 0.3 1.5 -2.8

4.0 0.6 -3.4 4.1 -0.8

59.7 63.0 70.8 95.3 126.7

55.8 62.3 74.2 91.2 127.5

233.8 246.5 263.5 281.7 317.9

113.5 113.7 119.7 122.5 134.6

120.3 132.8 143.8 159.2 183.4

1975 1976 1977 1978 1979

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

1 638.3 1 825.3 2 030.9 2 294.7 2 563.3

1 034.4 1 151.9 1 278.6 1 428.5 1 592.2

230.2 292.0 361.3 438.0 492.9

173.7 192.4 228.7 280.6 333.9

62.7 82.5 110.3 131.6 141.0

-9.6 18.0 17.8 24.4 14.4

3.4 -0.8 4.5 1.4 3.6

16.0 -1.6 -23.1 -25.4 -22.5

138.7 149.5 159.4 186.9 230.1

122.7 151.1 182.4 212.3 252.7

357.7 383.0 414.1 453.6 500.8

149.1 159.7 175.4 190.9 210.6

208.7 223.3 238.7 262.6 290.2

1980 1981 1982 1983 1984

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

2 789.5 3 128.4 3 255.0 3 536.7 3 933.2

1 757.1 1 941.1 2 077.3 2 290.6 2 503.3

479.3 572.4 517.2 564.3 735.6

362.4 420.0 426.5 417.2 489.6

123.2 122.6 105.7 152.9 180.6

-0.2 21.0 -20.7 9.6 59.7

-6.1 8.8 5.8 -15.4 5.7

-13.1 -12.5 -20.0 -51.7 -102.7

280.8 305.2 283.2 277.0 302.4

293.8 317.8 303.2 328.6 405.1

566.2 627.5 680.5 733.5 797.0

243.8 280.2 310.8 342.9 374.4

322.4 347.3 369.7 390.5 422.6

1985 1986 1987 1988 1989

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

4 220.3 4 462.8 4 739.5 5 103.8 5 484.4

2 720.3 2 899.7 3 100.2 3 353.6 3 598.5

736.2 746.5 785.0 821.6 874.9

526.2 519.8 524.1 563.8 607.7

188.2 220.1 233.7 239.3 239.5

16.1 8.0 33.6 30.4 27.7

5.8 -1.5 -6.4 -11.9 0.0

-115.2 -132.7 -145.2 -110.4 -88.2

302.0 320.5 363.9 444.1 503.3

417.2 453.3 509.1 554.5 591.5

879.0 949.3 999.5 1 039.0 1 099.1

412.8 438.6 460.1 462.3 482.2

466.2 510.7 539.4 576.7 616.9

1990 1991 1992 1993 1994

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

5 803.1 5 995.9 6 337.7 6 657.4 7 072.2

3 839.9 3 986.1 4 235.3 4 477.9 4 743.3

861.0 802.9 864.8 953.4 1 097.1

622.4 598.2 612.1 666.6 731.4

224.0 205.1 236.3 266.0 301.9

12.2 0.9 10.1 27.0 51.8

2.4 -1.3 6.2 -6.2 12.1

-78.0 -27.5 -33.2 -65.0 -93.6

552.4 596.8 635.3 655.8 720.9

630.3 624.3 668.6 720.9 814.5

1 180.2 1 234.4 1 271.0 1 291.2 1 325.5

508.3 527.7 533.9 525.2 519.1

671.9 706.7 737.0 766.0 806.3

1995 1996 1997 1998 1999

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

7 397.7 7 816.9 8 304.3 8 747.0 9 268.4

4 975.8 5 256.8 5 547.4 5 879.5 6 282.5

1 144.0 1 240.3 1 389.8 1 509.1 1 625.7

810.0 875.4 968.7 1 052.6 1 133.9

302.8 334.1 349.1 385.8 424.9

42.2 22.1 68.8 69.4 69.6

-11.1 8.6 3.2 1.4 -2.7

-91.4 -96.2 -101.6 -159.9 -260.5

812.2 868.6 955.3 955.9 991.2

903.6 964.8 1 056.9 1 115.9 1 251.7

1 369.2 1 416.0 1 468.7 1 518.3 1 620.8

519.2 527.4 530.9 530.4 555.8

850.0 888.6 937.8 987.9 1 065.0

2000 2001 2002 2003 2004

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

9 817.0 10 128.0 10 469.6 10 971.2 11 734.3

6 739.4 7 055.0 7 350.7 7 709.9 8 214.3

1 735.5 1 614.3 1 582.1 1 670.4 1 928.1

1 232.1 1 176.8 1 066.3 1 082.4 1 198.8

446.9 469.3 503.9 572.5 673.8

57.8 -31.7 14.4 15.2 52.2

-1.3 0.0 -2.5 0.2 3.2

-379.5 -367.0 -424.4 -500.9 -624.0

1 096.3 1 032.8 1 005.9 1 045.6 1 173.8

1 475.8 1 399.8 1 430.3 1 546.5 1 797.8

1 721.6 1 825.6 1 961.1 2 091.9 2 215.9

578.8 612.9 679.7 754.8 827.6

1 142.8 1 212.8 1 281.5 1 337.1 1 388.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 333.3 10 426.6 10 527.4 10 591.1

7 230.3 7 323.0 7 396.6 7 453.1

1 564.1 1 571.4 1 592.9 1 600.1

1 085.2 1 067.8 1 061.4 1 050.7

487.2 501.0 505.4 522.1

-11.1 11.5 28.2 28.8

2.8 -8.9 -2.2 -1.6

-373.1 -416.1 -433.8 -474.6

976.4 1 008.2 1 022.9 1 016.2

1 349.5 1 424.3 1 456.7 1 490.8

1 912.0 1 948.3 1 971.8 2 012.5

654.9 675.2 682.0 706.6

1 257.2 1 273.1 1 289.8 1 305.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 717.0 10 844.6 11 087.4 11 236.0

7 555.2 7 635.3 7 782.4 7 866.6

1 610.0 1 619.3 1 694.2 1 757.9

1 048.2 1 066.8 1 098.8 1 116.0

540.0 552.9 584.9 612.2

18.6 1.5 13.1 27.8

3.2 -1.9 -2.5 1.9

-502.6 -500.6 -495.3 -505.0

1 018.8 1 016.1 1 046.6 1 101.1

1 521.4 1 516.6 1 541.9 1 606.1

2 054.4 2 090.5 2 106.2 2 116.5

724.0 763.4 761.8 770.0

1 330.4 1 327.1 1 344.4 1 346.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

11 457.1 11 666.1 11 818.8 11 995.2

8 032.3 8 145.6 8 263.2 8 416.1

1 818.2 1 928.5 1 961.2 2 004.5

1 140.7 1 182.7 1 219.0 1 252.9

632.0 673.9 689.7 699.7

47.8 60.7 45.4 54.8

-2.3 11.2 7.0 -3.0

-559.6 -613.1 -638.0 -685.4

1 130.8 1 163.3 1 183.8 1 217.1

1 690.3 1 776.4 1 821.8 1 902.5

2 166.2 2 205.0 2 232.5 2 260.0

808.3 824.6 836.5 840.8

1 357.9 1 380.4 1 395.9 1 419.1

5

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS Table 1-2. Real Gross Domestic Product (Billions of chained [2000] dollars, quarterly data are at seasonally adjusted annual rates.)

Year and quarter

Gross domestic product

Personal consumption expenditures

Gross private domestic investment Fixed investment Total

Exports and imports of goods and Government consumption expenservices ditures and gross investment

Change in private inventories

Nonresidential

Residential

Nonfarm

NIPA Tables 1.1.6, 5.6.6A, 5.6.6B

Farm

Residual Net exports

Exports

Imports

Total

Federal

State and local

1946 1947 1948 1949

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

1 589.4 1 574.5 1 643.2 1 634.6

1 012.9 1 031.6 1 054.4 1 083.5

172.1 165.3 211.2 161.2

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

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

28.9 4.0 11.3 -7.8

-0.9 -3.6 4.9 -1.5

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

64.6 73.7 58.0 57.5

47.0 44.6 52.0 50.2

396.8 337.2 361.7 404.9

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

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

-10.0 11.3 9.9 -22.3

1950 1951 1952 1953 1954

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

1 777.3 1 915.0 1 988.3 2 079.5 2 065.4

1 152.8 1 171.2 1 208.2 1 265.7 1 291.4

227.7 228.3 206.5 216.2 206.1

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

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

20.8 25.8 6.7 4.1 -6.8

-0.3 1.7 2.5 1.6 0.4

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

50.3 61.7 59.0 55.1 57.7

59.3 61.7 67.1 73.4 69.8

405.3 553.5 666.3 713.9 665.1

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

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

0.5 -38.0 -84.6 -98.0 -85.1

1955 1956 1957 1958 1959

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

2 212.8 2 255.8 2 301.1 2 279.2 2 441.3

1 385.5 1 425.4 1 460.7 1 472.3 1 554.6

256.2 252.7 241.7 221.7 266.7

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

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

17.0 14.2 2.2 -7.0 17.9

-1.5 -2.6 0.4 4.7 -3.8

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

63.9 74.4 80.9 70.0 77.2

78.2 84.5 88.1 92.3 101.9

640.7 641.0 669.5 690.9 714.3

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

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

-55.3 -53.2 -63.6 -83.4 -69.6

1960 1961 1962 1963 1964

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

2 501.8 2 560.0 2 715.2 2 834.0 2 998.6

1 597.4 1 630.3 1 711.1 1 781.6 1 888.4

266.6 264.9 298.4 318.5 344.7

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

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

8.8 7.0 18.3 17.0 19.7

1.4 2.1 1.4 1.2 -3.1

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

90.6 91.1 95.7 102.5 114.6

103.3 102.6 114.3 117.3 123.6

715.4 751.3 797.6 818.1 836.1

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

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

-64.9 -75.0 -73.3 -69.4 -61.6

1965 1966 1967 1968 1969

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

3 191.1 3 399.1 3 484.6 3 652.7 3 765.4

2 007.7 2 121.8 2 185.0 2 310.5 2 396.4

393.1 427.7 408.1 431.9 457.1

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

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

27.4 45.2 28.4 23.7 27.8

2.0 -1.1 2.1 3.3 0.0

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

117.8 126.0 128.9 139.0 145.7

136.7 157.1 168.5 193.6 204.6

861.3 937.1 1 008.9 1 040.5 1 038.0

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

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

-52.1 -56.4 -77.8 -75.6 -67.2

1970 1971 1972 1973 1974

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

3 771.9 3 898.6 4 105.0 4 341.5 4 319.6

2 451.9 2 545.5 2 701.3 2 833.8 2 812.3

427.1 475.7 532.1 594.4 550.6

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

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

7.8 18.5 24.2 36.6 35.1

-1.9 3.3 0.3 1.5 -3.6

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

161.4 164.1 176.5 209.7 226.3

213.4 224.7 250.0 261.6 255.7

1 012.9 990.8 983.5 980.0 1 004.7

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

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

-68.0 -52.8 -38.4 -14.8 -18.6

1975 1976 1977 1978 1979

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

4 311.2 4 540.9 4 750.5 5 015.0 5 173.4

2 876.9 3 035.5 3 164.1 3 303.1 3 383.4

453.1 544.7 627.0 702.6 725.0

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

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

-19.2 34.0 32.1 40.9 21.5

4.7 -1.3 5.9 1.7 3.5

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

224.9 234.7 240.3 265.7 292.0

227.3 271.7 301.4 327.6 333.0

1 027.4 1 031.9 1 043.3 1 074.0 1 094.1

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

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

-43.8 -34.2 -22.8 -2.8 11.9

1980 1981 1982 1983 1984

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

5 161.7 5 291.7 5 189.3 5 423.8 5 813.6

3 374.1 3 422.2 3 470.3 3 668.6 3 863.3

645.3 704.9 606.0 662.5 857.7

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

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

0.0 25.5 -24.6 10.2 66.5

-5.8 8.2 6.1 -14.2 5.1

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

323.5 327.4 302.4 294.6 318.7

310.9 319.1 315.0 354.8 441.1

1 115.4 1 125.6 1 145.4 1 187.3 1 227.0

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

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

14.3 30.7 -19.8 -34.4 -12.0

1985 1986 1987 1988 1989

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

6 053.7 6 263.6 6 475.1 6 742.7 6 981.4

4 064.0 4 228.9 4 369.8 4 546.9 4 675.0

849.7 843.9 870.0 890.5 926.2

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

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

17.5 10.1 37.7 32.7 28.8

5.7 -1.8 -7.4 -10.7 0.0

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

328.3 353.7 391.8 454.6 506.8

469.8 510.0 540.2 561.4 586.0

1 312.5 1 392.5 1 426.7 1 445.1 1 482.5

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

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

-31.0 -45.4 -43.0 -33.0 -23.1

1990 1991 1992 1993 1994

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

7 112.5 7 100.5 7 336.6 7 532.7 7 835.5

4 770.3 4 778.4 4 934.8 5 099.8 5 290.7

895.1 822.2 889.0 968.3 1 099.6

595.1 563.2 581.3 631.9 689.9

298.9 270.2 307.6 332.7 364.8

13.2 1.0 10.3 27.7 52.0

2.1 -1.5 5.8 -6.1 11.2

-54.7 -14.6 -15.9 -52.1 -79.4

552.5 589.1 629.7 650.0 706.5

607.1 603.7 645.6 702.1 785.9

1 530.0 1 547.2 1 555.3 1 541.1 1 541.3

659.1 658.0 646.6 619.6 596.4

868.4 886.8 906.5 919.5 943.3

-91.1 -96.0 -89.1 -78.6 -63.7

1995 1996 1997 1998 1999

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

8 031.7 8 328.9 8 703.5 9 066.9 9 470.3

5 433.5 5 619.4 5 831.8 6 125.8 6 438.6

1 134.0 1 234.3 1 387.7 1 524.1 1 642.6

762.5 833.6 934.2 1 037.8 1 133.3

353.1 381.3 388.6 418.3 443.6

41.3 21.7 68.5 71.2 71.5

-10.6 6.8 2.9 1.4 -3.0

-71.0 -79.6 -104.6 -203.7 -296.2

778.2 843.4 943.7 966.5 1 008.2

849.1 923.0 1 048.3 1 170.3 1 304.4

1 549.7 1 564.9 1 594.0 1 624.4 1 686.9

580.3 573.5 567.6 561.2 573.7

968.3 990.5 1 025.9 1 063.0 1 113.2

-51.1 -38.5 -23.8 -14.6 -5.8

2000 2001 2002 2003 2004

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

9 817.0 9 890.7 10 048.8 10 320.6 10 755.7

6 739.4 6 910.4 7 099.3 7 306.6 7 588.6

1 735.5 1 598.4 1 557.1 1 617.4 1 809.8

1 232.1 1 180.5 1 071.5 1 085.0 1 186.7

446.9 448.5 469.9 509.4 561.8

57.8 -31.8 15.2 15.5 49.9

-1.3 0.0 -2.5 0.2 2.3

-379.5 -399.1 -471.3 -521.4 -601.3

1 096.3 1 036.7 1 013.3 1 031.2 1 117.9

1 475.8 1 435.8 1 484.6 1 552.6 1 719.2

1 721.6 1 780.3 1 858.8 1 911.1 1 952.3

578.8 601.4 643.4 687.8 723.7

1 142.8 1 179.0 1 215.4 1 223.3 1 228.4

0.2 1.6 3.0 2.6 -5.1

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 977.3 10 031.6 10 090.7 10 095.8

7 042.2 7 083.5 7 123.2 7 148.2

1 541.7 1 549.0 1 570.9 1 567.0

1 090.3 1 073.3 1 068.0 1 054.5

459.0 469.5 471.8 479.3

-11.1 12.4 29.3 29.9

0.9 -9.4 -1.1 -0.2

-441.3 -458.9 -472.2 -513.0

992.8 1 018.0 1 025.2 1 017.2

1 434.0 1 476.9 1 497.4 1 530.2

1 832.0 1 853.4 1 863.9 1 885.8

623.2 641.7 646.5 662.3

1 208.9 1 211.8 1 217.5 1 223.6

1.7 3.7 0.5 5.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 138.6 10 230.4 10 410.9 10 502.6

7 192.2 7 256.8 7 360.7 7 416.4

1 565.3 1 575.8 1 640.6 1 687.9

1 051.6 1 072.9 1 101.8 1 113.7

484.8 496.0 521.2 535.7

19.7 1.0 13.0 28.1

4.2 -1.4 -3.1 1.2

-510.7 -528.4 -516.2 -530.2

1 009.7 1 004.5 1 032.2 1 078.4

1 520.4 1 532.9 1 548.4 1 608.6

1 884.4 1 917.5 1 920.1 1 922.6

662.8 696.8 693.2 698.5

1 221.6 1 220.7 1 226.8 1 224.1

5.2 7.5 -2.6 0.3

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 612.5 10 704.1 10 808.9 10 897.1

7 501.4 7 536.6 7 617.5 7 698.8

1 729.1 1 813.0 1 833.4 1 863.9

1 135.1 1 171.6 1 204.8 1 235.1

542.4 565.1 568.8 571.0

46.8 58.5 43.7 50.8

-3.5 6.7 6.3 -0.2

-563.0 -601.7 -606.5 -634.1

1 091.8 1 110.2 1 125.0 1 144.5

1 654.8 1 711.9 1 731.5 1 778.6

1 938.4 1 949.5 1 958.4 1 962.8

716.5 722.2 728.6 727.6

1 221.8 1 227.1 1 229.6 1 235.0

-1.1 -0.4 -7.3 -11.2

Note: Chained (2000) dollar series are calculated as the product of the chain-type quantity index and the 2000 current-dollar value of the corresponding series, divided by 100. Because the formula for the chain-type quantity indexes uses weights of more than one period, the corresponding chained-dollar estimates are usually not additive. The residual line is the difference between the first line and the sum of the most detailed lines shown in the BEA published data. . . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 1-2. Current-Dollar and Real Gross Domestic Product, 1946–2004 12

Trillions of Dollars

10

Current dollars Chained (2000) dollars

8

6

4

2

0 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• Figure 1-2 graphs the value of GDP in both current dollars and real terms (chained 2000 dollars). Since real GDP is expressed in dollars of the year 2000, the two are the same in that year. As prices increase in nearly every year, the current-dollar measure grows faster than the measure of real, or constant-dollar, GDP. (Tables 1-1 and 1-2)

Figure 1-3. Percent Changes in Current-Dollar and Real GDP, 1947–2004 16 Percent change, current dollars Percent change in real GDP

14 12

Percent

6

10 8 6 4 2 0 -2 1947

1952

1957

1962

1967

1972

1977

1982

1987

1992

1997

2004

Year • The arithmetic scale used in Figure 1-2 seems to suggest ever-accelerating growth in GDP, but should not be interpreted that way. (See “Using the Data: The U.S. Economy in the New Century” in the introductory material to this book.) Figure 1-3 depicts the same data in the form of year-to-year percent changes. The annual changes in real GDP, though quite variable, fluctuate around a value of about 3.5 percent, the average rate between the business cycle peak years of 1948 and 2000. The changes in nominal GDP, which are roughly the sum of the real change and the inflation rate, are more volatile. They are quite similar to (though somewhat higher than) the changes in real GDP during years of low inflation. In years of high inflation, they are far above the changes in real GDP. Some years of high nominal change, notably 1974 and 1975, have seen the real GDP actually decline. (Tables 1-1 and 1-3)

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

7

Table 1-3. Contributions to Percent Change in Real Gross Domestic Product (Percent, percentage points.)

NIPA Table 1.1.2 Percentage points at seasonally adjusted annual rates

Year and quarter

Percent change at seasonally adjusted annual rate, GDP

Personal consumption expenditures

Gross private domestic investment Fixed investment Total

Nonresidential

Exports and imports of goods and services

Residential

Change in private inventories

Net exports

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

State and local

1946 1947 1948 1949

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

-11.0 -0.9 4.4 -0.5

6.36 1.20 1.47 1.79

7.46 -0.57 4.00 -4.22

2.24 1.31 0.51 -0.93

2.39 1.06 0.98 -0.44

2.84 -2.93 2.50 -2.85

3.82 1.08 -2.18 0.08

3.25 0.91 -1.63 -0.05

0.57 0.17 -0.55 0.13

-28.67 -2.65 1.08 1.83

-29.06 -3.32 0.71 0.90

0.39 0.68 0.37 0.93

1950 1951 1952 1953 1954

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

8.7 7.7 3.8 4.6 -0.7

4.28 1.05 1.95 2.91 1.25

5.74 0.05 -1.65 0.70 -0.69

0.86 0.44 -0.18 0.80 -0.20

2.03 -1.14 -0.10 0.18 0.42

2.84 0.75 -1.37 -0.28 -0.91

-1.31 0.81 -0.59 -0.70 0.40

-0.66 0.98 -0.22 -0.31 0.19

-0.65 -0.17 -0.37 -0.39 0.21

0.02 5.84 4.11 1.67 -1.64

-0.56 5.78 4.00 1.33 -2.25

0.58 0.06 0.11 0.34 0.60

1955 1956 1957 1958 1959

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

7.1 1.9 2.0 -1.0 7.1

4.57 1.79 1.53 0.50 3.55

3.45 -0.23 -0.71 -1.25 2.80

1.01 0.55 0.16 -1.12 0.73

0.90 -0.49 -0.32 0.05 1.21

1.54 -0.29 -0.54 -0.18 0.86

-0.04 0.37 0.25 -0.89 0.00

0.44 0.70 0.43 -0.69 0.45

-0.48 -0.33 -0.18 -0.20 -0.45

-0.84 0.01 0.93 0.69 0.76

-1.39 -0.24 0.46 -0.01 0.42

0.55 0.25 0.47 0.70 0.34

1960 1961 1962 1963 1964

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

2.5 2.3 6.1 4.4 5.8

1.73 1.30 3.11 2.56 3.71

0.00 -0.10 1.81 1.00 1.25

0.52 -0.06 0.78 0.50 1.07

-0.39 0.01 0.46 0.58 0.30

-0.13 -0.05 0.57 -0.08 -0.13

0.72 0.06 -0.21 0.24 0.36

0.78 0.03 0.25 0.35 0.59

-0.06 0.03 -0.47 -0.12 -0.23

0.03 1.07 1.36 0.58 0.49

-0.35 0.51 1.07 0.01 -0.17

0.39 0.56 0.29 0.57 0.65

1965 1966 1967 1968 1969

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

6.4 6.5 2.5 4.8 3.1

3.91 3.50 1.81 3.50 2.27

2.16 1.44 -0.76 0.90 0.90

1.65 1.29 -0.15 0.46 0.78

-0.15 -0.43 -0.13 0.53 0.13

0.66 0.58 -0.49 -0.10 0.00

-0.30 -0.29 -0.22 -0.30 -0.04

0.15 0.36 0.12 0.41 0.25

-0.45 -0.65 -0.34 -0.70 -0.29

0.65 1.87 1.68 0.73 -0.06

0.00 1.24 1.17 0.10 -0.42

0.66 0.63 0.51 0.63 0.37

1970 1971 1972 1973 1974

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

0.2 3.4 5.3 5.8 -0.5

1.42 2.38 3.80 3.05 -0.47

-1.04 1.67 1.87 1.96 -1.30

-0.06 0.00 0.92 1.50 0.09

-0.26 1.10 0.89 -0.04 -1.13

-0.73 0.58 0.06 0.50 -0.27

0.34 -0.19 -0.21 0.82 0.75

0.56 0.10 0.42 1.12 0.58

-0.22 -0.29 -0.63 -0.29 0.18

-0.55 -0.50 -0.16 -0.08 0.52

-0.86 -0.85 -0.42 -0.41 0.08

0.31 0.36 0.26 0.33 0.44

1975 1976 1977 1978 1979

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

-0.2 5.3 4.6 5.6 3.2

1.42 3.48 2.68 2.76 1.52

-2.98 2.84 2.43 2.16 0.61

-1.14 0.52 1.19 1.69 1.23

-0.57 0.90 0.99 0.35 -0.21

-1.27 1.41 0.25 0.12 -0.41

0.89 -1.08 -0.72 0.05 0.66

-0.05 0.37 0.20 0.82 0.82

0.94 -1.45 -0.92 -0.78 -0.16

0.48 0.10 0.23 0.60 0.37

0.03 0.00 0.19 0.22 0.20

0.45 0.09 0.04 0.38 0.17

1980 1981 1982 1983 1984

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

-0.2 2.5 -1.9 4.5 7.2

-0.17 0.90 0.87 3.65 3.44

-2.12 1.59 -2.55 1.45 4.63

-0.04 0.74 -0.51 -0.16 2.05

-1.17 -0.35 -0.71 1.33 0.64

-0.91 1.20 -1.34 0.29 1.95

1.68 -0.15 -0.60 -1.35 -1.58

0.97 0.12 -0.73 -0.22 0.63

0.71 -0.27 0.12 -1.13 -2.21

0.38 0.19 0.35 0.77 0.70

0.39 0.42 0.35 0.63 0.30

-0.01 -0.23 0.01 0.13 0.40

1985 1986 1987 1988 1989

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

4.1 3.5 3.4 4.1 3.5

3.31 2.62 2.17 2.66 1.86

-0.17 -0.12 0.51 0.39 0.64

0.82 -0.36 -0.01 0.57 0.61

0.07 0.55 0.10 -0.05 -0.14

-1.06 -0.32 0.42 -0.14 0.17

-0.42 -0.30 0.17 0.82 0.52

0.23 0.54 0.78 1.24 0.99

-0.65 -0.84 -0.61 -0.42 -0.47

1.41 1.27 0.52 0.27 0.52

0.74 0.55 0.36 -0.15 0.14

0.67 0.71 0.17 0.42 0.39

1990 1991 1992 1993 1994

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

1.9 -0.2 3.3 2.7 4.0

1.34 0.11 2.18 2.23 2.52

-0.53 -1.20 1.07 1.21 1.93

0.05 -0.57 0.32 0.83 0.91

-0.37 -0.37 0.47 0.31 0.39

-0.21 -0.26 0.29 0.07 0.63

0.43 0.69 -0.04 -0.59 -0.43

0.81 0.63 0.68 0.32 0.85

-0.39 0.06 -0.72 -0.91 -1.29

0.64 0.23 0.11 -0.18 0.00

0.18 -0.02 -0.15 -0.35 -0.30

0.46 0.24 0.26 0.17 0.30

1995 1996 1997 1998 1999

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

2.5 3.7 4.5 4.2 4.5

1.81 2.31 2.54 3.36 3.44

0.48 1.35 1.95 1.63 1.33

1.08 1.01 1.33 1.28 1.09

-0.14 0.33 0.08 0.32 0.27

-0.46 0.02 0.54 0.03 -0.03

0.11 -0.14 -0.34 -1.16 -0.99

1.04 0.91 1.30 0.27 0.47

-0.93 -1.05 -1.64 -1.43 -1.46

0.10 0.18 0.34 0.34 0.67

-0.20 -0.08 -0.07 -0.07 0.14

0.30 0.26 0.41 0.41 0.54

2000 2001 2002 2003 2004

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

3.7 0.8 1.6 2.7 4.2

3.17 1.74 1.90 2.05 2.71

0.99 -1.39 -0.41 0.58 1.82

1.06 -0.52 -1.06 0.13 0.92

0.03 0.02 0.22 0.41 0.55

-0.10 -0.88 0.43 0.05 0.35

-0.86 -0.20 -0.69 -0.46 -0.73

0.93 -0.60 -0.23 0.17 0.80

-1.79 0.40 -0.46 -0.63 -1.53

0.36 0.60 0.80 0.53 0.41

0.05 0.23 0.43 0.45 0.36

0.31 0.37 0.37 0.08 0.05

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.7 2.2 2.4 0.2

1.01 1.64 1.57 0.97

1.92 0.30 0.87 -0.14

-1.50 -0.66 -0.21 -0.52

0.46 0.43 0.09 0.30

2.95 0.53 0.98 0.08

-0.97 -0.62 -0.49 -1.52

0.47 0.96 0.27 -0.31

-1.44 -1.58 -0.76 -1.21

0.79 0.88 0.43 0.89

0.36 0.76 0.20 0.64

0.43 0.12 0.23 0.25

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.7 3.7 7.2 3.6

1.70 2.55 4.13 2.15

-0.03 0.42 2.53 1.78

-0.10 0.79 1.08 0.43

0.23 0.47 1.07 0.59

-0.16 -0.84 0.38 0.75

0.08 -0.66 0.48 -0.47

-0.29 -0.20 1.04 1.69

0.37 -0.46 -0.56 -2.16

-0.05 1.37 0.11 0.10

0.03 1.40 -0.14 0.21

-0.08 -0.04 0.25 -0.11

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.3 3.5 4.0 3.3

3.27 1.33 3.05 3.01

1.52 3.10 0.75 1.11

0.76 1.29 1.15 1.04

0.28 0.93 0.15 0.09

0.48 0.87 -0.56 -0.03

-1.16 -1.37 -0.17 -0.98

0.49 0.67 0.53 0.70

-1.65 -2.03 -0.70 -1.68

0.62 0.43 0.35 0.17

0.71 0.22 0.25 -0.04

-0.09 0.21 0.10 0.21

8

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-4. Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases (Index numbers, 2000 = 100.)

NIPA Tables 1.1.3, 1.4.3, 2.3.3 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1946 1947 1948 1949

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

16.2 16.0 16.7 16.7

15.0 15.3 15.6 16.1

11.2 11.7 12.2 12.6

9.0 10.8 11.9 10.9

7.1 8.2 8.7 7.9

16.6 21.3 25.5 23.6

5.9 6.7 5.3 5.2

3.2 3.0 3.5 3.4

23.0 19.6 21.0 23.5

43.0 31.8 34.3 37.6

11.6 13.2 14.0 16.2

15.4 15.1 16.1 16.0

1950 1951 1952 1953 1954

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

18.1 19.5 20.3 21.2 21.0

17.1 17.4 17.9 18.8 19.2

13.7 13.8 14.2 14.9 15.2

13.0 12.4 12.2 13.0 13.3

8.6 9.0 8.8 9.6 9.4

32.3 27.0 26.6 27.5 29.8

4.6 5.6 5.4 5.0 5.3

4.0 4.2 4.5 5.0 4.7

23.5 32.2 38.7 41.5 38.6

35.6 59.0 76.8 82.9 72.0

17.5 17.6 17.9 18.8 20.5

17.7 18.9 19.7 20.8 20.6

1955 1956 1957 1958 1959

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

22.5 23.0 23.4 23.2 24.9

20.6 21.2 21.7 21.8 23.1

16.5 16.9 17.3 17.4 18.6

15.0 15.0 14.9 13.8 15.7

10.4 11.0 11.2 10.0 10.8

34.6 31.8 29.8 30.2 37.8

5.8 6.8 7.4 6.4 7.0

5.3 5.7 6.0 6.3 6.9

37.2 37.2 38.9 40.1 41.5

65.5 64.3 66.6 66.6 68.7

21.9 22.6 24.0 26.0 27.0

22.0 22.4 22.8 22.8 24.4

1960 1961 1962 1963 1964

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

25.5 26.1 27.7 28.9 30.5

23.7 24.2 25.4 26.4 28.0

19.2 19.7 20.9 22.0 23.5

15.9 15.8 17.2 18.6 20.4

11.4 11.3 12.3 13.0 14.5

35.1 35.2 38.6 43.2 45.7

8.3 8.3 8.7 9.4 10.5

7.0 7.0 7.7 8.0 8.4

41.6 43.6 46.3 47.5 48.6

66.8 69.6 75.5 75.5 74.5

28.2 29.9 30.8 32.7 34.9

24.8 25.4 27.0 28.1 29.7

1965 1966 1967 1968 1969

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

32.5 34.6 35.5 37.2 38.4

29.8 31.5 32.4 34.3 35.6

25.1 26.6 27.6 29.2 30.4

22.5 23.7 23.3 24.9 26.5

17.0 19.2 18.9 19.7 21.2

44.3 40.4 39.1 44.4 45.7

10.7 11.5 11.8 12.7 13.3

9.3 10.6 11.4 13.1 13.9

50.0 54.4 58.6 60.4 60.3

74.5 82.7 91.0 91.7 88.5

37.3 39.6 41.6 44.0 45.5

31.7 33.8 34.8 36.6 37.7

1970 1971 1972 1973 1974

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

38.4 39.7 41.8 44.2 44.0

36.4 37.8 40.1 42.0 41.7

31.0 32.5 34.7 36.9 36.9

25.9 27.9 31.2 34.1 32.0

21.1 21.1 23.1 26.4 26.7

43.0 54.8 64.5 64.1 50.9

14.7 15.0 16.1 19.1 20.6

14.5 15.2 16.9 17.7 17.3

58.8 57.6 57.1 56.9 58.4

82.0 75.7 72.6 69.5 70.1

46.8 48.2 49.3 50.7 52.6

37.6 39.0 41.1 43.1 42.6

1975 1976 1977 1978 1979

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

43.9 46.3 48.4 51.1 52.7

42.7 45.0 47.0 49.0 50.2

37.7 39.8 41.8 44.1 45.5

28.5 31.4 35.9 40.2 42.5

24.0 25.2 28.0 32.2 35.5

44.3 54.7 66.4 70.6 68.0

20.5 21.4 21.9 24.2 26.6

15.4 18.4 20.4 22.2 22.6

59.7 59.9 60.6 62.4 63.5

70.4 70.4 71.9 73.7 75.5

54.5 54.9 55.1 56.9 57.8

42.1 44.9 47.3 49.8 51.1

1980 1981 1982 1983 1984

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

52.6 53.9 52.9 55.2 59.2

50.1 50.8 51.5 54.4 57.3

45.4 46.4 47.1 50.3 53.6

39.7 40.6 37.7 40.5 47.3

35.4 37.4 36.0 35.5 41.8

53.6 49.3 40.4 57.1 65.6

29.5 29.9 27.6 26.9 29.1

21.1 21.6 21.3 24.0 29.9

64.8 65.4 66.5 69.0 71.3

79.0 82.8 86.0 91.7 94.6

57.7 56.6 56.6 57.3 59.3

50.1 51.4 50.8 53.7 58.4

1985 1986 1987 1988 1989

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

61.7 63.8 66.0 68.7 71.1

60.3 62.7 64.8 67.5 69.4

56.9 59.6 61.8 64.4 66.4

49.8 50.4 50.7 52.4 53.9

44.6 43.3 43.3 45.5 48.1

66.6 74.8 76.3 75.5 73.2

30.0 32.3 35.7 41.5 46.2

31.8 34.6 36.6 38.0 39.7

76.2 80.9 82.9 83.9 86.1

102.0 107.8 111.7 109.9 111.6

63.0 67.1 68.0 70.6 73.0

61.0 63.2 65.2 67.3 69.2

1990 1991 1992 1993 1994

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

72.5 72.3 74.7 76.7 79.8

70.8 70.9 73.2 75.7 78.5

67.8 67.9 70.6 73.2 76.2

52.8 49.4 52.3 56.8 62.1

48.3 45.7 47.2 51.3 56.0

66.9 60.5 68.8 74.4 81.6

50.4 53.7 57.4 59.3 64.4

41.1 40.9 43.7 47.6 53.3

88.9 89.9 90.3 89.5 89.5

113.9 113.7 111.7 107.1 103.1

76.0 77.6 79.3 80.5 82.5

70.2 69.6 72.0 74.3 77.6

1995 1996 1997 1998 1999

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

81.8 84.8 88.7 92.4 96.5

80.6 83.4 86.5 90.9 95.5

78.6 81.7 85.3 90.1 95.2

66.1 72.0 78.7 86.7 93.9

61.9 67.7 75.8 84.2 92.0

79.0 85.3 86.9 93.6 99.3

71.0 76.9 86.1 88.2 92.0

57.5 62.5 71.0 79.3 88.4

90.0 90.9 92.6 94.4 98.0

100.3 99.1 98.1 97.0 99.1

84.7 86.7 89.8 93.0 97.4

79.4 82.4 86.4 90.9 95.8

2000 2001 2002 2003 2004

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

100.0 100.8 102.4 105.1 109.6

100.0 102.5 105.3 108.4 112.6

100.0 102.9 105.9 109.2 113.3

100.0 97.0 92.0 95.3 104.5

100.0 95.8 87.0 88.1 96.3

100.0 100.4 105.1 114.0 125.7

100.0 94.6 92.4 94.1 102.0

100.0 97.3 100.6 105.2 116.5

100.0 103.4 108.0 111.0 113.4

100.0 103.9 111.2 118.8 125.0

100.0 103.2 106.4 107.0 107.5

100.0 100.9 103.2 106.3 111.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

101.6 102.2 102.8 102.8

104.5 105.1 105.7 106.1

105.1 105.6 106.3 106.6

92.4 92.1 91.9 91.6

88.5 87.1 86.7 85.6

102.7 105.1 105.6 107.2

90.6 92.9 93.5 92.8

97.2 100.1 101.5 103.7

106.4 107.7 108.3 109.5

107.7 110.9 111.7 114.4

105.8 106.0 106.5 107.1

102.2 102.9 103.6 104.0

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.3 104.2 106.1 107.0

106.7 107.7 109.2 110.0

107.3 108.5 110.0 110.8

91.8 93.7 97.0 98.7

85.4 87.1 89.4 90.4

108.5 111.0 116.6 119.9

92.1 91.6 94.2 98.4

103.0 103.9 104.9 109.0

109.5 111.4 111.5 111.7

114.5 120.4 119.8 120.7

106.9 106.8 107.4 107.1

104.4 105.5 107.1 108.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

108.1 109.0 110.1 111.0

111.3 111.8 113.0 114.2

112.0 112.5 113.9 114.9

100.3 103.9 106.0 107.9

92.1 95.1 97.8 100.2

121.4 126.4 127.3 127.8

99.6 101.3 102.6 104.4

112.1 116.0 117.3 120.5

112.6 113.2 113.8 114.0

123.8 124.8 125.9 125.7

106.9 107.4 107.6 108.1

109.5 110.8 111.9 113.0

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

9

Table 1-5. Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases (Index numbers, 2000 = 100.)

NIPA Tables 1.1.4, 1.6.4, 2.3.4 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1946 1947 1948 1949

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

13.9 15.5 16.4 16.4

14.2 15.7 16.6 16.5

14.4 15.6 16.5 16.6

16.7 19.6 21.3 21.7

19.9 23.2 25.2 25.8

10.6 12.6 13.7 13.9

21.9 25.4 26.8 25.2

14.9 17.8 19.3 18.4

10.0 10.8 11.2 11.5

11.6 12.3 12.2 12.7

8.1 9.1 10.2 10.3

13.6 15.1 16.0 16.1

1950 1951 1952 1953 1954

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

16.5 17.6 18.0 18.2 18.4

16.7 17.8 18.2 18.4 18.6

16.8 17.8 18.2 18.6 18.9

22.2 24.1 24.7 24.9 25.1

26.3 28.8 29.5 29.7 30.0

14.2 15.2 15.7 15.8 15.8

24.5 27.7 27.9 27.8 27.4

19.6 23.7 22.8 21.8 22.1

11.5 12.3 12.6 12.7 13.0

12.6 13.2 13.3 13.4 13.7

10.4 11.4 11.9 12.2 12.4

16.2 17.4 17.7 17.9 18.1

1955 1956 1957 1958 1959

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

18.7 19.4 20.0 20.5 20.8

18.7 19.1 19.6 20.1 20.4

19.1 19.6 20.2 20.6 21.0

25.5 27.0 27.9 28.0 28.3

30.4 32.8 34.5 34.7 35.1

16.2 16.6 16.6 16.6 16.6

27.7 28.6 29.7 29.4 29.4

22.0 22.4 22.6 21.7 21.9

13.5 14.3 14.9 15.3 15.4

14.5 15.2 15.9 16.6 16.5

12.6 13.4 14.0 14.2 14.5

18.4 19.0 19.7 20.1 20.4

1960 1961 1962 1963 1964

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

21.0 21.3 21.6 21.8 22.1

20.8 21.0 21.2 21.5 21.8

21.4 21.6 21.9 22.2 22.5

28.4 28.3 28.3 28.3 28.4

35.3 35.1 35.1 35.1 35.3

16.7 16.8 16.8 16.7 16.8

29.8 30.3 30.4 30.3 30.6

22.1 22.1 21.8 22.3 22.7

15.6 15.9 16.3 16.7 17.1

16.6 16.9 17.2 17.6 18.2

14.7 15.1 15.6 15.9 16.2

20.6 20.9 21.1 21.4 21.7

1965 1966 1967 1968 1969

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

22.5 23.2 23.9 24.9 26.2

22.1 22.7 23.2 24.2 25.3

22.8 23.2 23.9 24.9 26.1

28.9 29.5 30.4 31.6 33.1

35.7 36.2 37.1 38.4 40.0

17.3 17.9 18.5 19.5 20.9

31.5 32.5 33.7 34.5 35.6

23.1 23.6 23.7 24.0 24.7

17.6 18.3 19.1 20.1 21.3

18.7 19.3 19.9 21.0 22.1

16.7 17.5 18.5 19.5 20.8

22.1 22.7 23.4 24.4 25.6

1970 1971 1972 1973 1974

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

27.5 28.9 30.2 31.9 34.7

26.4 27.6 28.5 30.1 33.2

27.3 28.5 29.5 30.5 32.8

34.6 36.3 37.9 40.0 43.9

41.9 43.9 45.4 47.1 51.7

21.5 22.8 24.2 26.3 29.0

37.0 38.4 40.1 45.4 56.0

26.1 27.7 29.7 34.8 49.8

23.1 24.9 26.8 28.7 31.6

23.9 26.0 28.5 30.4 33.2

22.5 24.1 25.5 27.5 30.5

27.0 28.4 29.6 31.3 34.5

1975 1976 1977 1978 1979

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

38.0 40.2 42.8 45.8 49.6

36.0 37.9 40.4 43.2 47.1

35.5 37.7 40.1 42.8 45.7

49.4 52.2 56.3 61.1 66.6

58.8 62.0 66.3 70.7 76.4

31.7 33.7 37.1 41.7 46.4

61.7 63.7 66.3 70.3 78.8

54.0 55.6 60.5 64.8 75.9

34.8 37.1 39.7 42.2 45.8

36.6 39.2 42.2 44.8 48.2

33.5 35.6 37.9 40.4 43.9

37.8 39.9 42.6 45.7 49.7

1980 1981 1982 1983 1984

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

54.1 59.1 62.7 65.2 67.7

52.1 56.7 59.9 62.4 64.8

49.9 54.2 57.8 60.8 63.4

72.9 79.7 84.0 83.9 84.4

83.2 91.2 96.3 95.4 95.2

51.4 55.6 58.6 59.9 61.6

86.8 93.2 93.6 94.0 94.9

94.5 99.6 96.2 92.6 91.8

50.8 55.8 59.4 61.8 65.0

53.3 58.5 62.4 64.6 68.4

48.9 53.7 57.1 59.7 62.3

54.9 59.9 63.3 65.5 67.8

1985 1986 1987 1988 1989

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

69.7 71.3 73.2 75.7 78.6

66.9 68.6 70.9 73.8 77.0

65.8 68.2 70.8 73.8 76.9

85.5 87.5 89.1 91.4 93.6

95.9 97.6 98.4 100.6 102.7

63.2 65.9 68.6 70.9 73.2

92.0 90.6 92.9 97.7 99.3

88.8 88.9 94.3 98.8 100.9

67.0 68.2 70.1 71.9 74.1

70.0 70.4 71.2 72.7 74.7

64.7 66.6 69.4 71.5 73.9

69.8 71.3 73.5 76.0 78.9

1990 1991 1992 1993 1994

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

81.6 84.5 86.4 88.4 90.3

80.5 83.4 85.8 87.8 89.7

80.2 83.3 86.1 88.3 90.4

95.5 97.0 96.7 97.8 99.1

104.7 106.3 105.4 105.5 106.0

74.9 75.9 76.8 79.9 82.8

100.0 101.3 100.9 100.9 102.0

103.8 103.4 103.6 102.7 103.6

77.1 79.8 81.7 83.8 86.0

77.1 80.2 82.6 84.8 87.1

77.4 79.7 81.3 83.3 85.5

82.1 84.8 86.8 88.7 90.6

1995 1996 1997 1998 1999

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

92.1 93.9 95.4 96.5 97.9

91.6 93.5 95.1 96.0 97.6

92.4 94.1 95.6 96.9 98.3

100.3 100.0 99.8 98.9 98.9

106.2 105.0 103.7 101.4 100.1

85.8 87.6 89.8 92.2 95.8

104.4 103.0 101.2 98.9 98.3

106.4 104.5 100.8 95.4 96.0

88.4 90.5 92.1 93.5 96.1

89.5 92.0 93.5 94.5 96.9

87.8 89.7 91.4 92.9 95.7

92.5 94.1 95.4 96.1 97.6

2000 2001 2002 2003 2004

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

100.0 102.4 104.2 106.3 109.1

100.0 102.1 103.5 105.5 108.2

100.0 101.9 103.7 105.1 107.2

100.0 101.0 101.7 103.4 106.7

100.0 99.7 99.5 99.8 101.0

100.0 104.6 107.2 112.4 119.9

100.0 99.6 99.3 101.4 105.0

100.0 97.5 96.3 99.6 104.6

100.0 102.5 105.5 109.5 113.5

100.0 101.9 105.6 109.7 114.4

100.0 102.9 105.4 109.3 113.0

100.0 102.0 103.6 105.9 108.9

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.6 103.9 104.3 104.9

102.7 103.4 103.8 104.3

103.0 103.5 104.0 104.3

101.3 101.5 101.5 102.3

99.5 99.5 99.4 99.6

106.2 106.7 107.1 109.0

98.4 99.0 99.8 99.9

94.1 96.5 97.3 97.4

104.4 105.1 105.8 106.7

105.1 105.2 105.5 106.7

104.0 105.1 105.9 106.7

102.8 103.4 103.8 104.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.7 106.0 106.5 107.0

105.1 105.2 105.7 106.1

104.6 104.9 105.3 105.6

103.1 102.9 103.4 104.4

99.7 99.4 99.7 100.2

111.4 111.5 112.3 114.3

100.9 101.2 101.4 102.1

100.1 98.9 99.6 99.9

109.0 109.0 109.7 110.1

109.2 109.6 109.9 110.2

108.9 108.7 109.6 110.0

105.4 105.5 106.0 106.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

108.0 109.0 109.4 110.1

107.1 108.1 108.5 109.3

106.3 107.0 107.4 108.0

105.3 106.4 107.2 107.8

100.5 101.0 101.2 101.5

116.6 119.3 121.3 122.6

103.6 104.8 105.2 106.4

102.2 103.8 105.3 107.0

111.8 113.1 114.0 115.1

112.8 114.2 114.8 115.6

111.1 112.5 113.5 114.9

107.6 108.7 109.2 110.1

10

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-6. Final Sales (Quarterly dollar data are at seasonally adjusted annual rates.)

NIPA Tables 1.4.4, 1.4.5, 1.4.6

Final sales of domestic product Year and quarter Billions of dollars

Billions of chained (2000) dollars

Final sales to domestic purchasers

Chain-type price index, 2000 = 100

Billions of dollars

Billions of chained (2000) dollars

Chain-type price index, 2000 = 100

1946 1947 1948 1949

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

216.3 244.7 263.5 270.0

1 566.4 1 598.5 1 628.1 1 666.7

13.8 15.3 16.2 16.2

209.1 233.9 258.0 264.7

1 547.7 1 562.8 1 628.6 1 666.6

13.5 15.0 15.8 15.9

1950 1951 1952 1953 1954

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

288.0 329.4 354.8 377.4 382.3

1 763.8 1 889.4 1 990.0 2 087.7 2 092.5

16.3 17.4 17.8 18.1 18.3

287.3 326.9 353.7 378.1 381.9

1 787.4 1 900.0 2 013.6 2 127.1 2 123.4

16.1 17.2 17.6 17.8 18.0

1955 1956 1957 1958 1959

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

409.8 433.5 460.3 467.6 502.7

2 209.2 2 259.0 2 316.9 2 299.0 2 442.7

18.6 19.2 19.9 20.3 20.6

409.3 431.2 456.2 467.0 502.3

2 242.8 2 285.0 2 338.3 2 341.1 2 487.4

18.3 18.9 19.5 20.0 20.2

1960 1961 1962 1963 1964

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

523.2 541.7 579.5 612.1 658.8

2 506.8 2 566.8 2 708.5 2 830.3 2 999.9

20.9 21.1 21.4 21.6 22.0

519.0 536.8 575.4 607.2 651.9

2 534.8 2 594.6 2 744.8 2 862.4 3 024.5

20.5 20.7 21.0 21.2 21.6

1965 1966 1967 1968 1969

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

709.9 774.2 822.7 900.9 975.4

3 173.8 3 364.8 3 467.6 3 640.3 3 753.7

22.4 23.0 23.7 24.8 26.0

704.3 770.3 819.2 899.6 974.0

3 211.2 3 415.5 3 528.1 3 715.3 3 832.6

21.9 22.6 23.2 24.2 25.4

1970 1971 1972 1973 1974

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

1 036.5 1 118.9 1 229.2 1 366.8 1 486.0

3 787.7 3 893.4 4 098.6 4 315.9 4 305.5

27.4 28.7 30.0 31.7 34.5

1 032.6 1 118.2 1 232.6 1 362.7 1 486.8

3 854.0 3 969.3 4 186.9 4 373.4 4 329.7

26.8 28.2 29.4 31.2 34.3

1975 1976 1977 1978 1979

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

1 644.6 1 808.2 2 008.6 2 268.9 2 545.3

4 352.5 4 522.3 4 721.6 4 981.6 5 161.2

37.8 40.0 42.5 45.6 49.3

1 628.6 1 809.8 2 031.7 2 294.3 2 567.9

4 338.2 4 556.2 4 789.5 5 047.9 5 194.2

37.5 39.7 42.4 45.5 49.4

1980 1981 1982 1983 1984

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

2 795.8 3 098.6 3 269.9 3 542.4 3 867.8

5 196.7 5 265.1 5 233.4 5 454.0 5 739.2

53.8 58.9 62.5 65.0 67.4

2 808.9 3 111.2 3 289.9 3 594.1 3 970.5

5 142.8 5 217.9 5 218.2 5 507.3 5 877.3

54.6 59.6 63.1 65.3 67.6

1985 1986 1987 1988 1989

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

4 198.4 4 456.3 4 712.3 5 085.3 5 456.7

6 042.1 6 271.8 6 457.2 6 734.5 6 962.2

69.5 71.1 73.0 75.5 78.4

4 313.6 4 589.0 4 857.5 5 195.7 5 544.8

6 204.2 6 452.0 6 626.5 6 849.7 7 041.6

69.5 71.1 73.3 75.9 78.8

1990 1991 1992 1993 1994

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

5 788.5 5 996.3 6 321.4 6 636.6 7 008.4

7 108.5 7 115.0 7 331.1 7 522.3 7 777.8

81.4 84.3 86.2 88.2 90.1

5 866.5 6 023.8 6 354.7 6 701.6 7 102.0

7 157.4 7 115.2 7 333.0 7 566.4 7 853.6

82.0 84.7 86.7 88.6 90.4

1995 1996 1997 1998 1999

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

7 366.5 7 786.1 8 232.3 8 676.2 9 201.5

8 010.2 8 306.5 8 636.6 8 997.6 9 404.0

92.0 93.7 95.3 96.4 97.8

7 457.9 7 882.3 8 333.9 8 836.2 9 462.0

8 076.8 8 383.1 8 740.4 9 203.2 9 701.3

92.3 94.0 95.3 96.0 97.5

2000 2001 2002 2003 2004

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

9 760.5 10 159.7 10 457.7 10 955.8 11 678.9

9 760.5 9 920.9 10 036.5 10 303.6 10 702.4

100.0 102.4 104.2 106.3 109.1

10 140.0 10 526.7 10 882.1 11 456.7 12 302.9

10 140.0 10 320.5 10 505.3 10 820.1 11 295.3

100.0 102.0 103.6 105.9 108.9

2002 1st quarter ............................................................... 2nd quarter .............................................................. 3rd quarter .............................................................. 4th quarter ...............................................................

10 341.6 10 424.0 10 501.4 10 563.9

9 986.8 10 028.4 10 063.5 10 067.3

103.6 103.9 104.4 104.9

10 714.7 10 840.1 10 935.2 11 038.4

10 427.5 10 485.3 10 533.1 10 575.4

102.8 103.4 103.8 104.4

2003 1st quarter ............................................................... 2nd quarter .............................................................. 3rd quarter .............................................................. 4th quarter ...............................................................

10 695.2 10 845.0 11 076.9 11 206.2

10 114.7 10 228.2 10 399.5 10 471.8

105.7 106.0 106.5 107.0

11 197.8 11 345.6 11 572.2 11 711.3

10 620.8 10 751.6 10 911.6 10 996.6

105.4 105.5 106.1 106.5

2004 1st quarter ............................................................... 2nd quarter .............................................................. 3rd quarter .............................................................. 4th quarter ...............................................................

11 411.6 11 594.2 11 766.3 11 943.3

10 568.9 10 637.4 10 757.1 10 846.0

108.0 109.0 109.4 110.1

11 971.1 12 207.3 12 404.4 12 628.7

11 125.1 11 230.4 11 354.9 11 470.7

107.6 108.7 109.3 110.1

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

11

Table 1-7. Per Capita Product and Income and U.S. Population (Dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 7.1

Current dollars Year and quarter

Gross domestic product

Personal income

Disposable personal income

Chained (2000) dollars

Personal consumption expenditures Total

Durable goods

Nondurable goods

Services

Gross domestic product

Disposable personal income

Services

Population (midperiod, thousands)

Personal consumption expenditures Total

Durable goods

Nondurable goods

1946 1947 1948 1949

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

1 572 1 694 1 836 1 792

1 263 1 325 1 431 1 388

1 141 1 188 1 300 1 276

1 021 1 124 1 194 1 196

111 142 156 168

585 631 659 636

324 352 379 393

11 241 10 925 11 206 10 957

8 011 7 565 7 832 7 747

7 164 7 158 7 191 7 263

325 381 399 424

3 489 3 329 3 284 3 277

3 320 3 394 3 464 3 492

141 389 144 126 146 631 149 188

1950 1951 1952 1953 1954

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

1 937 2 199 2 283 2 378 2 342

1 510 1 672 1 754 1 829 1 813

1 385 1 497 1 550 1 621 1 627

1 267 1 352 1 399 1 461 1 478

203 194 187 205 196

648 708 731 738 737

417 450 481 517 545

11 717 12 412 12 668 13 032 12 719

8 306 8 408 8 534 8 802 8 757

7 600 7 591 7 698 7 932 7 952

509 456 436 482 472

3 324 3 354 3 427 3 477 3 460

3 607 3 728 3 826 3 923 4 011

151 684 154 287 156 954 159 565 162 391

1955 1956 1957 1958 1959

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

2 509 2 601 2 692 2 683 2 860

1 913 2 019 2 094 2 119 2 218

1 714 1 801 1 867 1 898 1 979

1 566 1 615 1 675 1 701 1 793

235 227 233 215 241

755 777 800 814 838

576 611 641 672 714

13 389 13 410 13 435 13 088 13 782

9 177 9 450 9 508 9 433 9 685

8 383 8 474 8 528 8 455 8 776

566 534 529 479 527

3 564 3 621 3 622 3 597 3 682

4 148 4 279 4 365 4 456 4 612

165 275 168 221 171 274 174 141 177 130

1960 1961 1962 1963 1964

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

2 912 2 965 3 139 3 263 3 458

2 277 2 335 2 448 2 534 2 681

2 022 2 078 2 171 2 246 2 410

1 835 1 862 1 947 2 022 2 144

240 227 251 273 295

846 852 872 888 931

750 782 823 861 918

13 840 13 932 14 552 14 971 15 624

9 735 9 901 10 227 10 455 11 061

8 837 8 873 9 170 9 412 9 839

527 499 549 594 640

3 662 3 669 3 727 3 751 3 880

4 721 4 838 5 000 5 153 5 393

180 760 183 742 186 590 189 300 191 927

1965 1966 1967 1968 1969

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

3 700 4 007 4 189 4 533 4 857

2 860 3 072 3 262 3 547 3 840

2 563 2 734 2 895 3 114 3 324

2 283 2 446 2 555 2 780 2 985

325 347 354 402 424

986 1 062 1 092 1 174 1 249

972 1 037 1 108 1 203 1 313

16 420 17 290 17 533 18 196 18 573

11 594 12 065 12 457 12 892 13 163

10 331 10 793 10 994 11 510 11 820

712 763 767 843 864

4 035 4 208 4 228 4 377 4 449

5 610 5 821 6 039 6 292 6 529

194 347 196 599 198 752 200 745 202 736

1970 1971 1972 1973 1974

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

5 064 5 427 5 899 6 524 7 013

4 090 4 350 4 729 5 241 5 716

3 587 3 860 4 140 4 616 5 010

3 162 3 379 3 671 4 022 4 364

414 467 526 583 572

1 326 1 375 1 467 1 619 1 798

1 421 1 538 1 678 1 820 1 994

18 391 18 771 19 555 20 484 20 195

13 563 14 001 14 512 15 345 15 094

11 955 12 256 12 868 13 371 13 148

826 898 1 001 1 094 1 009

4 504 4 528 4 677 4 784 4 645

6 712 6 886 7 200 7 466 7 570

205 089 207 692 209 924 211 939 213 898

1975 1976 1977 1978 1979

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

7 586 8 369 9 219 10 307 11 387

6 181 6 762 7 414 8 255 9 161

5 498 5 972 6 517 7 224 7 967

4 789 5 282 5 804 6 417 7 073

618 728 823 906 952

1 948 2 102 2 257 2 472 2 774

2 223 2 452 2 725 3 039 3 347

19 961 20 822 21 565 22 526 22 982

15 291 15 738 16 128 16 704 16 931

13 320 13 919 14 364 14 837 15 030

999 1 116 1 207 1 258 1 240

4 668 4 848 4 915 5 046 5 123

7 775 8 012 8 274 8 569 8 734

215 981 218 086 220 289 222 629 225 106

1980 1981 1982 1983 1984

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

12 249 13 601 14 017 15 092 16 638

10 134 11 266 11 951 12 635 13 915

8 822 9 765 10 426 11 131 12 319

7 716 8 439 8 945 9 775 10 589

940 1 006 1 034 1 198 1 381

3 057 3 299 3 392 3 547 3 742

3 719 4 134 4 519 5 030 5 466

22 666 23 007 22 346 23 146 24 593

16 940 17 217 17 418 17 828 19 011

14 816 14 879 14 944 15 656 16 343

1 129 1 132 1 120 1 272 1 445

5 057 5 066 5 065 5 187 5 346

8 785 8 844 8 944 9 349 9 644

227 726 230 008 232 218 234 333 236 394

1985 1986 1987 1988 1989

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

17 695 18 542 19 517 20 827 22 169

14 787 15 466 16 255 17 358 18 545

13 037 13 649 14 241 15 297 16 257

11 406 12 048 12 766 13 685 14 546

1 524 1 674 1 736 1 851 1 907

3 894 3 982 4 181 4 421 4 716

5 988 6 391 6 849 7 413 7 923

25 382 26 024 26 664 27 514 28 221

19 476 19 906 20 072 20 740 21 120

17 040 17 570 17 994 18 554 18 898

1 577 1 714 1 728 1 816 1 839

5 443 5 587 5 670 5 802 5 907

10 098 10 302 10 652 10 983 11 205

238 506 240 683 242 843 245 061 247 387

1990 1991 1992 1993 1994

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

23 195 23 650 24 668 25 578 26 844

19 500 19 923 20 870 21 356 22 176

17 131 17 609 18 494 18 872 19 555

15 349 15 722 16 485 17 204 18 004

1 895 1 790 1 882 2 024 2 210

4 996 5 068 5 179 5 300 5 455

8 457 8 864 9 424 9 881 10 339

28 429 28 007 28 556 28 940 29 741

21 281 21 109 21 548 21 493 21 812

19 067 18 848 19 208 19 593 20 082

1 813 1 688 1 763 1 877 2 009

5 932 5 840 5 878 5 956 6 088

11 398 11 438 11 680 11 855 12 058

250 181 253 530 256 922 260 282 263 455

1995 1996 1997 1998 1999

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

27 749 28 982 30 424 31 674 33 181

23 078 24 176 25 334 26 880 27 933

20 287 21 091 21 940 23 161 23 968

18 665 19 490 20 323 21 291 22 491

2 294 2 419 2 538 2 717 2 927

5 571 5 767 5 931 6 096 6 461

10 800 11 304 11 854 12 478 13 103

30 128 30 881 31 886 32 833 33 904

22 153 22 546 23 065 24 131 24 564

20 382 20 835 21 365 22 183 23 050

2 073 2 209 2 370 2 608 2 880

6 147 6 230 6 321 6 498 6 718

12 228 12 443 12 705 13 090 13 454

266 588 269 714 272 958 276 154 279 328

2000 2001 2002 2003 2004

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

34 759 35 491 36 323 37 691 39 919

29 847 30 572 30 814 31 500 33 044

25 472 26 236 27 165 28 065 29 475

23 862 24 723 25 502 26 487 27 944

3 057 3 097 3 205 3 264 3 360

6 895 7 068 7 215 7 520 8 057

13 911 14 558 15 082 15 703 16 527

34 759 34 660 34 863 35 456 36 590

25 472 25 698 26 236 26 596 27 230

23 862 24 216 24 630 25 101 25 816

3 057 3 156 3 347 3 533 3 708

6 895 6 962 7 067 7 221 7 485

13 911 14 099 14 226 14 374 14 665

282 429 285 366 288 240 291 085 293 951

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

35 985 36 227 36 481 36 606

30 697 30 895 30 825 30 849

26 994 27 246 27 187 27 241

25 179 25 444 25 631 25 760

3 187 3 193 3 258 3 185

7 121 7 223 7 225 7 292

14 871 15 028 15 148 15 283

34 745 34 855 34 967 34 894

26 292 26 355 26 182 26 127

24 524 24 612 24 684 24 706

3 303 3 325 3 408 3 354

7 058 7 065 7 052 7 096

14 172 14 230 14 239 14 266

287 154 287 812 288 575 289 328

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

36 958 37 311 38 043 38 451

31 084 31 373 31 620 31 924

27 552 27 839 28 392 28 475

26 054 26 269 26 703 26 921

3 172 3 242 3 344 3 297

7 435 7 408 7 595 7 643

15 448 15 620 15 764 15 980

34 963 35 197 35 722 35 941

26 228 26 459 26 853 26 846

24 803 24 967 25 256 25 380

3 376 3 489 3 640 3 628

7 137 7 153 7 278 7 314

14 299 14 346 14 377 14 473

289 977 290 656 291 442 292 217

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

39 120 39 743 40 157 40 651

32 386 32 753 33 057 33 973

28 939 29 231 29 461 30 265

27 426 27 750 28 076 28 522

3 326 3 320 3 377 3 418

7 863 8 023 8 081 8 259

16 237 16 406 16 618 16 845

36 236 36 466 36 726 36 930

27 026 27 045 27 159 27 685

25 613 25 675 25 882 26 091

3 659 3 654 3 739 3 779

7 416 7 447 7 498 7 579

14 576 14 610 14 692 14 783

292 872 293 540 294 315 295 077

12

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-8. Composite Indexes of Economic Activity and Selected Index Components Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index

Selected component of lagging index

Personal income Consumer less transfer installment credit payments outstanding (billions of 2000 (percent of dollars) personal income)

1959 ......................................................

41.4

37.0

37.1

99.8

60.6

1.03

1 803.8

13.3

1960 1961 1962 1963 1964

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

41.0 43.3 45.8 48.3 51.1

37.7 37.9 39.7 41.0 42.9

39.0 39.2 40.4 41.9 43.7

96.8 96.6 98.3 97.8 98.1

35.7 48.1 48.8 51.1 62.8

0.90 1.93 1.24 0.82 0.69

1 857.5 1 904.0 2 007.7 2 083.0 2 208.0

14.2 14.2 14.3 15.1 15.9

1965 1966 1967 1968 1969

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

53.8 54.6 54.7 57.3 57.4

45.4 48.1 49.5 51.6 53.7

45.9 48.7 50.5 52.1 54.6

98.8 98.8 98.1 99.2 98.2

66.6 73.0 44.0 52.6 65.2

0.21 -0.19 0.85 -0.01 -1.53

2 350.4 2 489.7 2 583.1 2 715.4 2 835.3

16.5 16.5 16.1 15.7 15.8

1970 1971 1972 1973 1974

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

53.9 57.5 62.7 64.2 57.6

53.7 54.5 57.5 60.7 61.1

56.0 55.4 55.7 59.0 62.7

96.0 98.4 103.3 103.0 97.5

50.3 48.0 62.7 88.0 65.8

0.17 1.50 1.78 -1.89 -2.95

2 889.1 2 956.8 3 135.9 3 317.4 3 282.7

15.4 15.5 15.8 16.3 16.1

1975 1976 1977 1978 1979

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

55.5 61.8 65.8 67.1 65.3

59.1 61.8 64.9 68.4 70.7

61.6 60.6 62.1 65.3 69.5

95.9 102.0 104.5 104.7 101.7

30.2 54.4 55.7 60.5 57.9

2.16 2.57 1.88 0.48 -1.75

3 239.7 3 400.7 3 559.8 3 763.4 3 881.8

14.9 14.6 14.9 15.5 16.0

1980 1981 1982 1983 1984

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

61.7 60.3 59.1 66.0 70.0

70.4 71.4 70.0 71.2 75.8

71.8 72.5 72.7 70.9 75.1

98.2 98.4 96.3 100.4 100.9

40.6 46.3 43.5 56.8 57.3

-1.90 -2.47 0.74 2.02 2.21

3 894.8 4 006.5 4 043.8 4 126.6 4 458.4

15.2 14.0 13.8 13.8 14.6

1985 1986 1987 1988 1989

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

73.2 76.9 80.2 82.6 82.2

78.1 79.8 82.3 85.5 87.5

78.8 80.8 82.2 84.7 88.2

99.1 98.7 100.2 100.8 99.2

48.0 50.6 57.4 57.7 47.6

2.52 0.88 1.73 1.28 -0.72

4 633.7 4 770.8 4 904.1 5 093.4 5 254.2

16.0 17.0 16.9 16.8 16.8

1990 1991 1992 1993 1994

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

80.7 81.2 85.7 90.3 95.3

88.5 87.5 88.8 90.7 94.1

89.8 89.3 87.0 88.4 91.2

98.6 98.0 102.1 102.6 103.2

47.9 47.3 50.2 51.5 60.1

0.45 2.17 3.49 2.85 2.88

5 321.1 5 256.0 5 374.1 5 430.4 5 593.4

16.5 15.9 14.9 15.0 15.9

1995 1996 1997 1998 1999

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

97.2 100.0 105.4 109.0 113.0

97.1 100.0 103.6 108.1 111.7

97.0 100.0 102.9 107.1 111.1

100.1 100.0 100.7 100.9 100.5

52.8 50.5 53.9 51.1 53.3

0.74 1.14 0.89 -0.09 0.67

5 759.9 5 981.1 6 269.4 6 714.1 6 948.4

17.5 18.5 18.6 18.5 19.0

2000 2001 2002 2003 2004

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

115.1 112.9 118.6 124.6 134.2

115.4 114.8 114.1 114.5 117.6

116.6 117.1 116.3 116.2 116.1

99.0 98.0 98.1 98.6 101.3

53.3 48.0 53.3 53.1 62.6

-0.21 1.13 2.94 2.89 2.93

7 345.3 7 376.4 7 336.0 7 415.5 7 653.8

19.2 20.4 21.3 21.6 21.2

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

121.0 120.7 120.9 121.5 123.1 124.1

114.1 113.8 113.8 113.7 114.0 114.3

116.4 116.9 117.0 116.9 116.9 116.2

98.0 97.3 97.3 97.3 97.5 98.4

52.7 52.9 52.5 49.6 50.3 49.7

2.81 2.64 2.56 2.70 2.31 2.11

7 325.2 7 323.2 7 323.5 7 349.9 7 407.2 7 429.8

21.6 21.6 21.5 21.6 21.6 21.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

125.1 125.8 126.7 127.9 128.7 129.8

114.6 114.6 114.9 115.1 115.6 115.8

116.1 116.1 115.5 115.6 115.3 115.0

98.7 98.7 99.5 99.6 100.3 100.7

51.2 53.0 53.5 54.8 57.1 59.6

2.97 3.42 3.26 3.28 3.30 3.29

7 435.1 7 430.2 7 431.8 7 467.9 7 529.4 7 532.7

21.6 21.6 21.7 21.6 21.5 21.5

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

130.9 131.4 133.0 133.3 134.0 134.5

115.9 116.2 116.7 116.9 117.3 117.3

115.3 115.1 114.9 115.1 115.4 115.7

100.5 101.0 101.6 101.6 101.6 101.4

61.4 62.8 66.4 66.4 67.6 66.8

3.15 3.07 2.83 3.35 3.72 3.70

7 540.8 7 551.6 7 558.6 7 576.7 7 587.1 7 580.0

21.5 21.4 21.4 21.3 21.3 21.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

135.0 135.1 135.2 135.2 136.0 136.9

117.7 117.9 117.9 118.4 118.8 120.3

116.6 116.8 117.2 117.4 117.3 116.4

100.9 100.9 100.6 100.9 101.3 103.4

63.9 62.9 60.2 59.5 57.8 56.1

3.24 2.85 2.52 2.34 2.26 2.07

7 630.8 7 648.7 7 639.4 7 713.9 7 745.8 8 071.9

21.3 21.3 21.4 21.3 21.2 20.5

1Not

seasonally adjusted.

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

Section 1b: Income and Value Added

Figure 1-4. Factor Income by Type, 1948 and 2004 1948

Net interest and misc. 1.2%

2004 Profits 14.0%

Rental 3.5%

Net interest and misc. 5.4% Rental 1.4%

Nonfarm proprietors 10.1%

Nonfarm proprietors 9.1%

Farm proprietors 7.5%

Farm proprietors 0.4%

Supplements 2.9%

Profits 12.4%

Wages and salaries 60.8%

Wages and salaries 57.5%

Supplements 13.8%

• The changing distribution of the national income over the postwar period is shown in the graph above, based on data in Table 1-11. The total income concept is “net national factor income,” formerly known as simply “national income,” which is the sum of the income components illustrated in the graph. Labor compensation rose from 63.7 percent of the total in 1948 to 71.3 percent of the total in 2004. The wage and salary share declined. The increase in the total labor share is entirely accounted for by supplements to wages and salaries, which are the costs of fringe benefits, including health insurance, and taxes to pay for Social Security and Medicare. • The farm proprietors’ share dropped from 7.5 percent in 1948 to less than 1 percent in 2004. Shares going to nonfarm proprietors declined slightly. Proprietors’ income includes the return to the labor input of the proprietors as well as to their land and other capital, so it cannot be attributed unequivocally to either capital or labor. • The share of rental income of persons declined. This seems surprising, as the share includes the imputed rental income of homeowners (and homeownership has been increasing). However, the rental income imputed to homeowners is net of all the costs of owning a home, including interest, depreciation, taxes, and purchased inputs. Table 12-7 shows that home mortgage debt has been increasing relative to real estate value. Accordingly, interest costs in recent years have absorbed a much greater share of the gross rental value of homeownership than in 1948, leaving a smaller return to the homeowner’s equity. • The share of capital incomes other than rental rose from 15.2 percent to 17.8 percent, with the interest portion rising as the corporate profits portion declined. Corporations, like homeowners, have increased their debt relative to their equity.

13

14

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-9. Relation of Gross Domestic Product, Gross and Net National Product, National Income, and Personal Income (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 1.7.5 Less: Consumption of fixed capital

Year and quarter

Gross domestic product

Plus: Less: Income Income receipts payments from the to the rest rest of the of the world world

Private Equals: Gross national product

Government

Domestic business Total Total Total

Less: HouseCapital holds and Capital consumpconsump- institutions tion allowtion adances justment

Total

General government

Government enterprises

Equals: Net national product

1946 1947 1948 1949

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

222.3 244.2 269.2 267.3

1.1 1.6 2.0 1.9

0.4 0.5 0.6 0.7

222.9 245.3 270.6 268.6

23.3 26.4 28.1 28.7

12.5 15.7 18.4 20.0

10.5 13.2 15.5 16.9

7.9 9.9 11.8 13.5

-2.6 -3.4 -3.8 -3.4

1.9 2.5 2.9 3.1

10.8 10.7 9.7 8.7

10.5 10.3 9.2 8.2

0.3 0.4 0.5 0.5

199.6 218.9 242.5 239.9

1950 1951 1952 1953 1954

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

293.8 339.3 358.3 379.4 380.4

2.2 2.8 2.9 2.8 3.0

0.7 0.9 0.9 0.9 0.9

295.2 341.2 360.3 381.3 382.5

29.4 33.2 35.7 37.8 39.9

21.5 24.6 26.1 27.3 28.7

18.1 20.7 21.9 22.9 24.1

14.9 17.1 18.8 21.0 23.0

-3.2 -3.6 -3.1 -1.9 -1.1

3.3 3.8 4.2 4.4 4.7

8.0 8.7 9.6 10.5 11.2

7.5 8.1 8.9 9.8 10.4

0.5 0.6 0.6 0.7 0.7

265.8 308.0 324.6 343.5 342.6

1955 1956 1957 1958 1959

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

414.8 437.5 461.1 467.2 506.6

3.5 3.9 4.3 3.9 4.3

1.1 1.1 1.2 1.2 1.5

417.2 440.3 464.1 469.8 509.3

42.1 46.4 49.9 52.0 53.0

30.3 33.6 36.3 38.1 38.6

25.3 28.1 30.4 32.1 32.2

25.7 27.9 30.3 31.6 33.5

0.4 -0.2 -0.1 -0.4 1.4

5.0 5.5 5.8 6.1 6.4

11.8 12.8 13.6 13.9 14.5

11.0 11.9 12.7 12.9 13.5

0.8 0.9 0.9 1.0 1.0

375.1 393.9 414.3 417.8 456.3

1960 1961 1962 1963 1964

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

526.4 544.7 585.6 617.7 663.6

4.9 5.3 5.9 6.5 7.2

1.8 1.8 1.8 2.1 2.3

529.5 548.2 589.7 622.2 668.5

55.6 57.2 59.3 62.4 65.0

40.5 41.6 42.8 44.9 46.9

33.9 34.7 35.6 37.5 39.0

35.3 36.7 41.0 43.5 46.2

1.4 2.0 5.4 6.0 7.2

6.7 6.9 7.2 7.5 7.9

15.0 15.6 16.5 17.5 18.1

13.9 14.4 15.3 16.2 16.7

1.1 1.2 1.2 1.3 1.4

473.9 491.0 530.5 559.8 603.5

1965 1966 1967 1968 1969

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

719.1 787.8 832.6 910.0 984.6

7.9 8.1 8.7 10.1 11.8

2.6 3.0 3.3 4.0 5.7

724.4 792.9 838.0 916.1 990.7

69.4 75.6 81.5 88.4 97.9

50.5 55.5 59.9 65.2 73.1

41.9 46.3 50.0 54.4 61.2

49.5 53.5 57.9 62.6 68.9

7.6 7.2 7.8 8.2 7.7

8.5 9.2 9.9 10.8 12.0

18.9 20.1 21.6 23.1 24.8

17.4 18.5 19.8 21.1 22.6

1.5 1.6 1.8 2.0 2.2

655.0 717.3 756.5 827.7 892.8

1970 1971 1972 1973 1974

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

1 038.5 1 127.1 1 238.3 1 382.7 1 500.0

12.8 14.0 16.3 23.5 29.8

6.4 6.4 7.7 10.9 14.3

1 044.9 1 134.7 1 246.8 1 395.3 1 515.5

106.7 115.0 126.5 139.3 162.5

80.0 86.7 97.1 107.9 126.6

67.2 72.5 80.9 89.9 105.9

73.9 79.5 88.9 97.0 107.6

6.7 6.9 8.1 7.1 1.7

12.9 14.2 16.2 18.0 20.7

26.7 28.3 29.5 31.4 35.9

24.2 25.5 26.4 27.8 31.6

2.5 2.8 3.1 3.5 4.3

938.2 1 019.7 1 120.3 1 256.0 1 353.0

1975 1976 1977 1978 1979

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

1 638.3 1 825.3 2 030.9 2 294.7 2 563.3

28.0 32.4 37.2 46.3 68.3

15.0 15.5 16.9 24.7 36.4

1 651.3 1 842.1 2 051.2 2 316.3 2 595.3

187.7 205.2 230.0 262.3 300.1

147.8 162.5 184.3 212.8 245.7

124.4 136.9 155.3 179.3 206.9

118.5 128.6 146.2 165.5 190.0

-5.9 -8.3 -9.1 -13.7 -16.9

23.4 25.6 29.0 33.6 38.8

40.0 42.6 45.7 49.5 54.5

34.9 37.1 39.7 42.8 46.9

5.1 5.5 6.0 6.7 7.6

1 463.6 1 637.0 1 821.2 2 054.0 2 295.1

1980 1981 1982 1983 1984

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

2 789.5 3 128.4 3 255.0 3 536.7 3 933.2

79.1 92.0 101.0 101.9 121.9

44.9 59.1 64.5 64.8 85.6

2 823.7 3 161.4 3 291.5 3 573.8 3 969.5

343.0 388.1 426.9 443.8 472.6

281.1 317.9 349.8 362.1 385.6

236.8 268.9 297.3 307.4 328.0

217.1 269.3 309.4 347.8 393.4

-19.8 0.4 12.1 40.4 65.4

44.3 49.0 52.5 54.7 57.6

61.8 70.1 77.1 81.7 87.0

53.1 60.2 66.3 70.2 74.8

8.8 10.0 10.9 11.5 12.2

2 480.7 2 773.3 2 864.6 3 130.0 3 496.9

1985 1986 1987 1988 1989

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

4 220.3 4 462.8 4 739.5 5 103.8 5 484.4

112.4 111.4 123.2 152.1 177.7

85.9 93.6 105.3 128.5 151.5

4 246.8 4 480.6 4 757.4 5 127.4 5 510.6

506.7 531.3 561.9 597.6 644.3

414.0 431.8 455.3 483.5 522.1

353.0 366.9 385.7 408.9 440.6

445.4 458.4 475.1 501.0 523.1

92.4 91.5 89.4 92.1 82.5

61.0 64.9 69.5 74.6 81.5

92.7 99.5 106.7 114.1 122.2

79.8 85.7 92.1 98.4 105.3

12.9 13.8 14.6 15.6 16.9

3 740.1 3 949.3 4 195.4 4 529.8 4 866.3

1990 1991 1992 1993 1994

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

5 803.1 5 995.9 6 337.7 6 657.4 7 072.2

189.1 168.9 152.7 156.2 186.4

154.3 138.5 123.0 124.3 160.2

5 837.9 6 026.3 6 367.4 6 689.3 7 098.4

682.5 725.9 751.9 776.4 833.7

551.6 586.9 607.3 624.7 675.1

466.4 497.4 510.5 524.6 568.0

521.1 530.1 544.9 569.3 615.1

54.7 32.7 34.4 44.7 47.1

85.1 89.5 96.8 100.1 107.1

130.9 139.1 144.6 151.8 158.6

113.1 120.2 124.8 130.6 135.9

17.9 18.8 19.8 21.1 22.7

5 155.4 5 300.4 5 615.5 5 912.9 6 264.7

1995 1996 1997 1998 1999

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

7 397.7 7 816.9 8 304.3 8 747.0 9 268.4

233.9 248.7 286.7 287.1 320.8

198.1 213.7 253.7 265.8 287.0

7 433.4 7 851.9 8 337.3 8 768.3 9 302.2

878.4 918.1 974.4 1 030.2 1 101.3

713.4 748.8 800.3 851.2 914.3

600.2 630.7 675.2 718.3 769.8

651.8 696.7 756.5 809.6 883.6

51.6 66.1 81.3 91.4 113.7

113.2 118.2 125.1 132.9 144.5

165.0 169.3 174.1 179.0 187.0

141.4 144.6 148.2 151.9 158.4

23.6 24.6 25.9 27.1 28.6

6 555.1 6 933.8 7 362.8 7 738.2 8 200.9

2000 2001 2002 2003 2004

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

9 817.0 10 128.0 10 469.6 10 971.2 11 734.3

382.7 322.4 305.7 343.7 415.4

343.7 278.8 275.0 275.6 361.7

9 855.9 10 171.6 10 500.2 11 039.3 11 788.0

1 187.8 1 281.5 1 292.0 1 331.3 1 435.3

990.8 1 075.5 1 080.3 1 112.8 1 206.2

836.1 903.7 893.6 911.5 973.3

943.9 1 028.7 1 109.3 1 127.6 1 228.6

107.8 124.9 215.7 216.2 255.3

154.8 171.7 186.8 201.3 232.8

197.0 206.0 211.6 218.5 229.1

166.4 172.7 178.3 183.5 192.0

30.6 33.3 33.4 35.1 37.2

8 668.1 8 890.2 9 208.3 9 708.0 10 352.8

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

10 333.3 10 426.6 10 527.4 10 591.1

294.5 307.1 317.7 303.3

268.3 290.5 288.1 253.3

10 359.5 10 443.3 10 557.0 10 641.1

1 282.0 1 288.2 1 294.9 1 302.7

1 073.1 1 077.5 1 082.4 1 088.4

892.3 892.5 893.5 896.0

1 111.5 1 112.8 1 109.8 1 103.3

219.2 220.3 216.2 207.3

180.8 184.9 188.8 192.5

208.9 210.8 212.5 214.3

176.1 177.5 178.9 180.4

32.7 33.2 33.6 33.9

9 077.5 9 155.0 9 262.1 9 338.4

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

10 717.0 10 844.6 11 087.4 11 236.0

316.5 329.1 344.3 384.9

271.5 262.2 277.0 291.7

10 761.9 10 911.4 11 154.8 11 329.2

1 311.8 1 323.8 1 337.2 1 352.5

1 095.7 1 105.8 1 117.8 1 131.8

900.6 906.8 914.5 924.0

1 089.7 1 128.6 1 142.5 1 149.8

189.1 221.8 228.0 225.8

195.1 199.0 203.3 207.8

216.1 218.1 219.3 220.6

181.6 183.2 184.1 185.0

34.5 34.9 35.2 35.6

9 450.1 9 587.6 9 817.6 9 976.8

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

11 457.1 11 666.1 11 818.8 11 995.2

380.0 401.2 418.1 462.4

297.0 354.5 369.6 425.6

11 540.1 11 712.8 11 867.3 12 032.0

1 371.1 1 393.8 1 534.1 1 442.0

1 147.8 1 165.8 1 303.5 1 207.6

935.1 947.9 1 032.0 978.4

1 197.1 1 210.8 1 269.1 1 237.4

262.0 262.9 237.1 259.0

212.7 217.9 271.5 229.2

223.3 228.1 230.6 234.5

187.2 191.1 193.2 196.3

36.1 37.0 37.4 38.1

10 169.0 10 319.0 10 333.2 10 589.9

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

15

Table 1-9. Relation of Gross Domestic Product, Gross and Net National Product, National Income, and Personal Income—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 1.7.5 Less:

Year and quarter

Net national product

Less: Statistical discrepancy

Equals: National income

Taxes on ContribuCorporate production tions for and governprofits with IVA and imports ment less social CCAdj subsidies insurance

Plus:

Net interest and miscellaneous payments on assets

Business current transfer payments (net)

Current surplus of government enterprises

Wage accruals less disbursements

Personal income receipts on assets

Personal current transfer receipts

Equals: Personal income

Addendum: Gross national income

1946 1947 1948 1949

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

199.6 218.9 242.5 239.9

1.2 2.3 -0.5 1.8

198.5 216.6 243.0 238.0

17.8 23.7 31.2 29.1

15.7 17.9 19.4 20.6

6.6 5.6 4.6 4.9

1.9 2.5 2.6 2.9

0.7 0.7 0.7 0.7

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

0.0 0.0 0.0 0.0

12.3 13.9 15.1 16.0

10.6 10.8 10.3 11.2

178.6 191.0 209.8 207.1

221.8 243.0 271.1 266.7

1950 1951 1952 1953 1954

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

265.8 308.0 324.6 343.5 342.6

1.4 3.6 2.8 4.0 3.2

264.4 304.3 321.8 339.5 339.4

36.0 41.2 39.3 39.7 38.8

22.4 24.0 26.7 29.0 29.0

5.5 6.6 6.9 7.1 8.1

3.2 3.7 4.1 4.7 5.6

0.9 1.2 1.3 1.2 1.0

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

0.0 0.1 0.0 -0.1 0.0

18.6 19.1 19.9 21.6 23.2

14.0 11.4 11.9 12.5 14.3

229.0 258.0 275.4 291.9 294.5

293.8 337.6 357.5 377.2 379.3

1955 1956 1957 1958 1959

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

375.1 393.9 414.3 417.8 456.3

2.5 -1.7 0.0 1.0 0.5

372.7 395.6 414.3 416.8 455.8

49.5 48.5 48.4 43.5 55.7

31.7 33.9 36.0 36.8 40.0

9.1 10.0 11.4 11.4 13.8

6.2 6.9 8.0 9.5 9.6

1.4 1.7 1.9 1.8 1.8

... ... ... ... 1.0

0.0 0.0 0.0 0.0 0.0

25.7 28.2 30.6 31.9 34.6

15.7 16.8 19.5 23.5 24.2

316.1 339.6 358.7 369.0 392.8

414.8 441.9 464.1 468.8 508.9

1960 1961 1962 1963 1964

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

473.9 491.0 530.5 559.8 603.5

-0.9 -0.6 0.4 -0.8 0.8

474.9 491.6 530.1 560.6 602.7

53.8 54.9 63.3 69.0 76.5

43.4 45.0 48.2 51.2 54.6

16.4 17.0 19.1 21.7 22.4

10.6 12.5 14.2 15.2 17.4

1.9 2.0 2.2 2.7 3.1

0.9 0.8 0.9 1.4 1.3

0.0 0.0 0.0 0.0 0.0

37.9 40.1 44.1 47.9 53.8

25.7 29.5 30.4 32.2 33.5

411.5 429.0 456.7 479.6 514.6

530.4 548.8 589.4 623.0 667.7

1965 1966 1967 1968 1969

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

655.0 717.3 756.5 827.7 892.8

1.6 6.3 4.6 4.6 3.2

653.4 711.0 751.9 823.2 889.7

87.5 93.2 91.3 98.8 95.4

57.8 59.3 64.2 72.3 79.4

23.4 31.3 34.9 38.7 44.1

19.6 22.4 25.5 27.1 32.7

3.6 3.5 3.8 4.3 4.9

1.3 1.0 0.9 1.2 1.0

0.0 0.0 0.0 0.0 0.0

59.4 64.1 69.0 75.2 84.1

36.2 39.6 48.0 56.1 62.3

555.7 603.9 648.3 712.0 778.5

722.8 786.6 833.4 911.5 987.6

1970 1971 1972 1973 1974

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

938.2 1 019.7 1 120.3 1 256.0 1 353.0

7.3 11.6 9.1 8.6 10.9

930.9 1 008.1 1 111.2 1 247.4 1 342.1

83.6 98.0 112.1 125.5 115.8

86.7 95.9 101.4 112.1 121.7

46.4 51.2 59.2 75.5 85.2

39.1 43.9 47.9 55.2 70.8

4.5 4.3 4.9 6.0 7.1

0.0 -0.2 0.5 -0.4 -0.9

0.0 0.6 0.0 -0.1 -0.5

93.5 101.0 109.6 124.7 146.4

74.7 88.1 97.9 112.6 133.3

838.8 903.5 992.7 1 110.7 1 222.6

1 037.6 1 123.1 1 237.7 1 386.7 1 504.6

1975 1976 1977 1978 1979

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

1 463.6 1 637.0 1 821.2 2 054.0 2 295.1

17.7 25.1 22.3 26.6 46.0

1 445.9 1 611.8 1 798.9 2 027.4 2 249.1

134.8 163.3 192.4 216.6 223.2

131.0 141.5 152.8 162.2 171.9

89.3 101.3 113.1 131.3 152.7

81.6 85.5 101.1 115.0 138.9

9.4 9.5 8.4 10.6 13.0

-3.2 -1.8 -2.6 -1.9 -2.6

0.1 0.1 0.1 0.3 -0.2

162.2 178.4 205.3 234.8 274.7

170.0 184.0 194.2 209.6 235.3

1 335.0 1 474.8 1 633.2 1 837.7 2 062.2

1 633.6 1 817.0 2 028.9 2 289.7 2 549.2

1980 1981 1982 1983 1984

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

2 480.7 2 773.3 2 864.6 3 130.0 3 496.9

41.4 30.9 0.3 45.7 14.6

2 439.3 2 742.4 2 864.3 3 084.2 3 482.3

201.1 226.1 209.7 264.2 318.6

190.9 224.5 226.4 242.5 269.3

166.2 195.7 208.9 226.0 257.5

181.8 232.3 271.1 285.3 327.1

14.4 17.6 20.1 22.5 30.1

-4.8 -4.9 -4.0 -3.1 -1.9

0.0 0.1 0.0 -0.4 0.2

338.7 421.9 488.4 529.6 607.9

279.5 318.4 354.8 383.7 400.1

2 307.9 2 591.3 2 775.3 2 960.7 3 289.5

2 782.3 3 130.4 3 291.2 3 528.0 3 954.9

1985 1986 1987 1988 1989

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

3 740.1 3 949.3 4 195.4 4 529.8 4 866.3

16.7 47.0 21.7 -19.5 39.7

3 723.4 3 902.3 4 173.7 4 549.4 4 826.6

330.3 319.5 368.8 432.6 426.6

287.3 298.9 317.7 345.5 372.1

281.4 303.4 323.1 361.5 385.2

341.3 366.8 366.4 385.3 432.1

34.8 36.6 33.8 34.0 39.2

0.8 1.3 1.2 2.5 4.9

-0.2 0.0 0.0 0.0 0.0

654.0 695.5 717.0 769.3 878.0

424.9 451.0 467.6 496.6 543.4

3 526.7 3 722.4 3 947.4 4 253.7 4 587.8

4 230.1 4 433.6 4 735.7 5 147.0 5 470.9

1990 1991 1992 1993 1994

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

5 155.4 5 300.4 5 615.5 5 912.9 6 264.7

66.2 72.5 102.7 139.5 142.5

5 089.1 5 227.9 5 512.8 5 773.4 6 122.3

437.8 451.2 479.3 541.9 600.3

398.7 430.2 453.9 467.0 513.5

410.1 430.2 455.0 477.7 508.2

442.2 418.2 388.5 365.7 366.4

39.4 39.9 42.4 40.7 43.3

1.6 5.7 7.6 7.2 8.6

0.1 -0.1 -15.8 6.4 17.6

924.0 932.0 910.9 901.8 950.8

595.2 666.4 749.4 790.1 827.3

4 878.6 5 051.0 5 362.0 5 558.5 5 842.5

5 771.6 5 953.8 6 264.7 6 549.8 6 955.9

1995 1996 1997 1998 1999

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

6 555.1 6 933.8 7 362.8 7 738.2 8 200.9

101.2 93.7 70.7 -14.6 -35.7

6 453.9 6 840.1 7 292.2 7 752.8 8 236.7

696.7 786.2 868.5 801.6 851.3

524.2 546.8 579.1 604.4 629.8

532.8 555.2 587.2 624.2 661.4

367.1 376.2 415.6 487.1 495.4

46.9 53.1 49.9 64.7 67.4

11.4 12.7 12.6 10.3 10.1

16.4 3.6 -2.9 -0.7 5.2

1 016.4 1 089.2 1 181.7 1 283.2 1 264.2

877.4 925.0 951.2 978.6 1 022.1

6 152.3 6 520.6 6 915.1 7 423.0 7 802.4

7 332.3 7 758.2 8 266.6 8 783.0 9 337.9

2000 2001 2002 2003 2004

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

8 668.1 8 890.2 9 208.3 9 708.0 10 352.8

-127.2 -89.6 -21.0 47.1 76.8

8 795.2 8 979.8 9 229.3 9 660.9 10 275.9

817.9 767.3 886.3 1 031.8 1 161.5

664.6 673.3 724.4 754.8 809.4

702.7 731.1 750.0 776.6 822.2

559.0 566.3 520.9 528.5 505.5

87.1 92.8 84.3 81.6 91.1

5.3 -1.4 0.9 1.3 -3.0

0.0 0.0 0.0 0.0 0.0

1 387.0 1 380.0 1 333.2 1 338.7 1 396.5

1 084.0 1 193.9 1 286.2 1 344.0 1 427.5

8 429.7 8 724.1 8 881.9 9 169.1 9 713.3

9 983.1 10 261.3 10 521.2 10 992.3 11 711.2

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

9 077.5 9 155.0 9 262.1 9 338.4

-53.6 -56.7 14.6 11.7

9 131.1 9 211.7 9 247.5 9 326.7

829.4 864.3 895.4 956.1

706.1 720.8 733.3 737.2

747.1 751.1 751.1 750.9

545.8 519.3 507.0 511.5

91.1 85.8 81.4 78.8

-1.6 -1.2 4.0 2.3

0.0 0.0 0.0 0.0

1 340.6 1 336.5 1 327.4 1 328.5

1 260.9 1 284.0 1 292.7 1 307.1

8 814.7 8 892.0 8 895.4 8 925.5

10 413.1 10 499.9 10 542.4 10 629.4

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

9 450.1 9 587.6 9 817.6 9 976.8

16.6 14.4 85.3 72.0

9 433.6 9 573.2 9 732.3 9 904.8

951.5 1 005.0 1 057.5 1 113.1

741.6 740.1 762.1 775.2

765.8 773.6 780.7 786.3

530.9 532.4 528.1 522.7

79.0 80.5 82.5 84.3

4.1 1.8 0.4 -1.1

1.4 -1.4 0.0 0.0

1 334.6 1 340.5 1 337.6 1 342.1

1 319.8 1 336.9 1 356.8 1 362.3

9 013.7 9 118.6 9 215.4 9 328.7

10 745.4 10 897.0 11 069.4 11 257.2

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

10 169.0 10 319.0 10 333.2 10 589.9

77.8 108.1 90.8 30.6

10 091.2 10 210.9 10 242.4 10 559.3

1 147.3 1 162.0 1 117.2 1 219.5

794.8 806.0 812.3 824.4

806.3 813.0 825.9 843.5

519.9 512.2 497.5 492.7

88.2 90.7 83.0 102.6

-1.6 -2.2 -3.0 -5.2

1.5 -1.5 0.0 0.0

1 350.4 1 363.9 1 378.2 1 493.6

1 399.6 1 419.8 1 441.5 1 449.2

9 484.8 9 614.3 9 729.2 10 024.8

11 462.3 11 604.7 11 776.5 12 001.4

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 1-5. Difference Between GNP and GDP, 1946–2004 450 400

Billions of Dollars

16

350

Income receipts from the rest of the world

300

Income payments to the rest of the world

250

Difference between GNP and GDP

200 150 100 50 0 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• Over the postwar period, income receipts by U.S. residents from the rest of the world have consistently exceeded income payments from U.S. industries to the rest of the world. In other words, U.S. residents have increasingly had more income to spend than was generated by production within the country’s boundaries. This was indicated by an excess of gross national product (GNP) over gross domestic product (GDP). (Table 1-9) • Most of the growth in this gap had occurred by the early 1980s. As a percentage of the value of GDP, the net excess of receipts over payments rose from 0.5 percent in 1948 to 1.2 percent in 1979 (comparing business cycle high years). Since then, the gap has shrunk relative to GDP, and was only 0.6 percent in its recent highest year, 2003. (Table 1-9) • This relative decline in the gap reflects the deteriorating international investment position of the United States. The excess of U.S. assets abroad over foreign-owned assets in the United States peaked in 1980. Since then, this excess has been reversed to a net indebtedness position of nearly $2.5 trillion in 2004, as a result of balance of payments deficits and the associated inflows of foreign capital. (Table 7-8) • The gap between GNP and GDP reflects differences in three income components: compensation, net interest and miscellaneous payments, and corporate profits. Comparison between those elements, as shown in the tables on national income (Table 1-11) and domestic income (Table 1-10), illustrates that profits earned by U.S. corporations still exceed those generated in the domestic economy, but net payments of interest by domestic industry are increasingly going to overseas lenders.

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

17

Table 1-10. Gross Domestic Income by Type of Income (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.1.5, 1.10

Compensation of employees

Net operating surplus Private enterprises

Year and quarter

Gross domestic income

Total

Wage and salary accruals

Supplements to wages and salaries

Taxes on production and imports

Less: Subsidies

Total Total

Net interest and miscellaneous payments, domestic industries

Business current transfer payments (net)

Proprietors’ income with IVA and CCAdj

Rental income of persons with CCAdj

1946 1947 1948 1949

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

221.1 241.9 269.7 265.4

119.7 130.0 141.9 141.8

112.0 123.0 135.5 134.7

7.6 7.0 6.4 7.1

16.8 18.1 19.7 20.9

1.2 0.2 0.3 0.3

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

62.5 67.6 80.3 74.3

1.9 2.4 2.5 2.8

0.7 0.7 0.7 0.7

35.6 34.5 39.3 34.7

7.1 7.2 7.9 8.2

1950 1951 1952 1953 1954

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

292.4 335.7 355.6 375.3 377.2

155.2 181.4 196.2 210.2 209.2

147.2 171.6 185.6 199.0 197.3

8.0 9.8 10.5 11.2 11.9

23.0 24.8 27.1 29.1 28.9

0.6 0.7 0.4 0.1 -0.1

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

85.4 97.0 97.0 98.4 99.1

3.1 3.5 4.0 4.6 5.4

0.9 1.2 1.3 1.2 1.0

37.6 42.7 43.1 42.1 42.3

9.2 10.1 11.2 12.5 13.5

1955 1956 1957 1958 1959

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

412.3 439.2 461.1 466.2 506.1

225.8 244.6 257.6 259.6 281.1

212.2 229.1 240.0 241.4 259.9

13.5 15.5 17.6 18.2 21.1

31.5 34.3 36.6 37.7 41.1

-0.2 0.4 0.7 0.9 1.1

... ... ... ... 132.0

112.8 114.3 117.6 117.7 131.0

6.1 6.8 8.0 9.4 9.5

1.4 1.7 1.9 1.8 1.8

44.3 45.8 47.9 50.1 50.7

13.9 14.2 14.6 15.4 16.2

1960 1961 1962 1963 1964

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

527.3 545.3 585.3 618.5 662.8

296.6 305.4 327.2 345.3 370.7

273.0 280.7 299.5 314.9 337.8

23.6 24.8 27.8 30.4 32.9

44.6 47.0 50.4 53.4 57.3

1.1 2.0 2.3 2.2 2.7

131.8 137.6 150.6 159.6 172.4

130.8 136.8 149.7 158.3 171.1

10.4 12.1 13.8 14.7 16.9

1.9 2.0 2.2 2.7 3.1

50.8 53.2 55.4 56.5 59.4

17.1 17.9 18.8 19.5 19.6

1965 1966 1967 1968 1969

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

717.5 781.5 828.0 905.4 981.4

399.5 442.6 475.1 524.3 577.6

363.8 400.3 429.0 472.0 518.3

35.7 42.3 46.1 52.3 59.3

60.8 63.3 68.0 76.5 84.0

3.0 3.9 3.8 4.2 4.5

190.9 204.0 207.2 220.5 226.5

189.6 203.0 206.2 219.3 225.5

19.1 21.9 24.9 26.7 33.2

3.6 3.5 3.8 4.3 4.9

63.9 68.2 69.8 74.3 77.4

20.2 20.8 21.2 20.9 21.2

1970 1971 1972 1973 1974

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

1 031.2 1 115.5 1 229.2 1 374.1 1 489.1

617.2 658.9 725.1 811.2 890.3

551.5 584.5 638.8 708.8 772.3

65.7 74.4 86.4 102.5 118.0

91.5 100.6 108.1 117.3 125.0

4.8 4.7 6.6 5.2 3.3

220.6 245.7 276.1 311.4 314.6

220.6 245.9 275.6 311.8 315.6

39.9 44.2 48.9 57.5 72.7

4.5 4.3 4.9 6.0 7.1

78.4 84.8 95.9 113.5 113.1

21.4 22.4 23.4 24.3 24.3

1975 1976 1977 1978 1979

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

1 620.6 1 800.1 2 008.7 2 268.1 2 517.3

949.2 1 059.4 1 180.6 1 336.2 1 500.8

814.9 899.8 994.2 1 121.3 1 255.9

134.3 159.6 186.4 214.9 245.0

135.5 146.6 159.9 171.2 180.4

4.5 5.1 7.1 8.9 8.5

352.7 394.1 445.3 507.4 544.4

356.0 396.0 447.9 509.3 547.0

83.2 85.2 99.8 116.2 141.5

9.4 9.5 8.4 10.6 13.0

119.5 132.2 145.7 166.6 180.1

23.7 22.3 20.7 22.1 23.8

1980 1981 1982 1983 1984

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

2 748.1 3 097.5 3 254.7 3 490.9 3 918.6

1 651.9 1 826.0 1 926.0 2 042.8 2 255.8

1 377.7 1 517.7 1 593.9 1 684.8 1 855.3

274.2 308.3 332.1 358.0 400.5

200.7 236.0 241.3 263.7 290.2

9.8 11.5 15.0 21.2 21.0

562.3 658.9 675.4 761.9 920.9

567.2 663.9 679.4 765.0 922.8

183.0 228.9 267.0 283.1 327.1

14.4 17.6 20.1 22.5 30.1

174.1 183.0 176.3 192.5 243.3

30.0 38.0 38.8 37.8 40.2

1985 1986 1987 1988 1989

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

4 203.6 4 415.8 4 717.8 5 123.3 5 444.7

2 424.9 2 571.9 2 751.6 2 968.1 3 146.5

1 995.7 2 116.6 2 272.1 2 453.8 2 597.6

429.2 455.3 479.5 514.2 548.9

308.5 323.7 347.9 374.9 399.3

21.3 24.8 30.2 29.4 27.2

984.7 1 013.7 1 086.6 1 212.1 1 281.8

983.9 1 012.4 1 085.4 1 209.6 1 276.9

352.6 386.6 395.1 417.8 471.7

34.8 36.6 33.8 34.0 39.2

262.3 275.7 302.2 341.6 363.3

41.9 33.5 33.5 40.6 43.1

1990 1991 1992 1993 1994

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

5 736.8 5 923.4 6 235.0 6 517.9 6 929.7

3 340.5 3 448.0 3 638.4 3 804.7 4 001.2

2 756.3 2 825.7 2 967.5 3 092.5 3 253.8

584.2 622.3 670.9 712.2 747.5

425.5 457.5 483.8 503.4 545.6

26.8 27.3 29.9 36.4 32.2

1 315.1 1 319.3 1 390.8 1 469.7 1 581.3

1 313.5 1 313.6 1 383.2 1 462.4 1 572.8

481.1 461.6 428.9 407.4 413.3

39.4 39.9 42.4 40.7 43.3

380.6 377.1 427.6 453.8 473.3

50.7 60.3 78.0 95.6 119.7

1995 1996 1997 1998 1999

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

7 296.5 7 723.2 8 233.7 8 761.6 9 304.1

4 197.4 4 394.7 4 666.1 5 023.9 5 362.3

3 439.8 3 627.3 3 879.1 4 187.3 4 476.6

757.7 767.3 787.0 836.7 885.7

558.2 581.1 612.0 639.8 674.0

34.0 34.3 32.9 35.4 44.2

1 696.4 1 863.6 2 014.1 2 103.1 2 210.7

1 685.0 1 850.9 2 001.5 2 092.8 2 200.6

420.0 438.9 489.2 564.1 577.9

46.9 53.1 49.9 64.7 67.4

492.1 543.2 576.0 627.8 678.3

122.1 131.5 128.8 137.5 147.3

2000 2001 2002 2003 2004

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

9 944.1 10 217.6 10 490.6 10 924.2 11 657.5

5 787.3 5 947.2 6 096.6 6 326.7 6 693.4

4 833.8 4 947.9 4 986.3 5 116.7 5 395.2

953.4 999.3 1 110.3 1 210.0 1 298.1

708.9 728.6 762.8 801.4 852.8

44.3 55.3 38.4 46.7 43.5

2 304.5 2 315.6 2 377.6 2 511.4 2 719.4

2 299.1 2 317.0 2 376.8 2 510.1 2 722.4

661.2 687.2 640.7 630.9 630.9

87.1 92.8 84.3 81.6 91.1

728.4 771.9 768.4 810.2 889.6

150.3 167.4 152.9 131.7 134.2

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 386.9 10 483.3 10 512.8 10 579.4

6 030.7 6 097.1 6 119.8 6 139.0

4 966.5 4 995.0 4 993.8 4 990.0

1 064.2 1 102.1 1 126.0 1 148.9

746.0 757.9 771.6 775.5

39.9 37.0 38.3 38.3

2 368.1 2 377.1 2 364.9 2 400.5

2 369.7 2 378.3 2 360.9 2 398.1

669.3 644.2 626.8 622.5

91.1 85.8 81.4 78.8

763.0 763.5 769.1 778.1

172.1 167.7 142.9 129.2

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 700.4 10 830.2 11 002.1 11 164.0

6 216.1 6 292.0 6 365.5 6 432.9

5 036.7 5 091.8 5 145.3 5 192.8

1 179.4 1 200.2 1 220.2 1 240.1

783.8 794.7 806.6 820.6

42.1 54.6 44.5 45.4

2 430.9 2 474.3 2 537.3 2 603.3

2 426.8 2 472.4 2 536.9 2 604.5

634.8 629.9 630.0 628.9

79.0 80.5 82.5 84.3

778.3 801.4 821.1 840.0

137.7 125.4 120.4 143.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

11 379.3 11 558.0 11 728.0 11 964.6

6 533.9 6 608.0 6 730.0 6 901.6

5 262.0 5 322.6 5 427.7 5 568.7

1 271.9 1 285.5 1 302.3 1 332.9

837.1 847.8 855.5 870.9

42.3 41.8 43.2 46.5

2 679.5 2 750.1 2 651.6 2 796.5

2 681.1 2 752.3 2 654.6 2 801.7

629.4 636.3 629.0 628.6

88.2 90.7 83.0 102.6

870.2 898.4 889.1 900.9

144.2 141.8 122.1 128.7

. . . = Not available.

18

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-10. Gross Domestic Income by Type of Income—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.1.5, 1.10

Net operating surplus—Continued

Consumption of fixed capital

Private enterprises—Continued Corporate profits with IVA and CCAdj, domestic industries Year and quarter Profits after tax Total

Taxes on corporate income

Total

Net dividends

Undistributed corporate profits

Current surplus of government enterprises

Total

Private

Government

Statistical discrepancy

Gross domestic product

1946 1947 1948 1949

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

17.1 22.7 29.9 27.9

9.1 11.3 12.4 10.2

8.0 11.4 17.5 17.7

5.1 5.6 6.2 6.4

2.9 5.8 11.3 11.3

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

23.3 26.4 28.1 28.7

12.5 15.7 18.4 20.0

10.8 10.7 9.7 8.7

1.2 2.3 -0.5 1.8

222.3 244.2 269.2 267.3

1950 1951 1952 1953 1954

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

34.7 39.5 37.4 37.9 36.9

17.9 22.6 19.4 20.3 17.6

16.8 16.9 18.0 17.6 19.3

7.9 7.4 7.5 7.8 7.9

9.0 9.5 10.5 9.9 11.4

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

29.4 33.2 35.7 37.8 39.9

21.5 24.6 26.1 27.3 28.7

8.0 8.7 9.6 10.5 11.2

1.4 3.6 2.8 4.0 3.2

293.8 339.3 358.3 379.4 380.4

1955 1956 1957 1958 1959

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

47.2 45.7 45.3 41.0 53.0

22.0 22.0 21.4 19.0 23.7

25.1 23.7 23.8 22.0 29.2

8.9 9.5 9.9 9.8 10.7

16.2 14.2 14.0 12.2 18.5

... ... ... ... 1.0

42.1 46.4 49.9 52.0 53.0

30.3 33.6 36.3 38.1 38.6

11.8 12.8 13.6 13.9 14.5

2.5 -1.7 0.0 1.0 0.5

414.8 437.5 461.1 467.2 506.6

1960 1961 1962 1963 1964

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

50.6 51.5 59.5 64.9 72.0

22.8 22.9 24.1 26.4 28.2

27.9 28.6 35.4 38.5 43.8

11.4 11.5 12.4 13.6 15.0

16.4 17.1 23.0 25.0 28.9

0.9 0.8 0.9 1.4 1.3

55.6 57.2 59.3 62.4 65.0

40.5 41.6 42.8 44.9 46.9

15.0 15.6 16.5 17.5 18.1

-0.9 -0.6 0.4 -0.8 0.8

526.4 544.7 585.6 617.7 663.6

1965 1966 1967 1968 1969

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

82.8 88.7 86.6 93.2 88.8

31.1 33.9 32.9 39.6 40.0

51.7 54.8 53.7 53.5 48.8

16.9 17.8 18.3 20.2 20.4

34.8 37.0 35.3 33.4 28.4

1.3 1.0 0.9 1.2 1.0

69.4 75.6 81.5 88.4 97.9

50.5 55.5 59.9 65.2 73.1

18.9 20.1 21.6 23.1 24.8

1.6 6.3 4.6 4.6 3.2

719.1 787.8 832.6 910.0 984.6

1970 1971 1972 1973 1974

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

76.5 90.2 102.6 110.6 98.3

34.8 38.2 42.3 50.0 52.8

41.8 52.0 60.2 60.6 45.5

20.4 20.3 21.9 23.1 23.5

21.4 31.7 38.3 37.5 22.1

0.0 -0.2 0.5 -0.4 -0.9

106.7 115.0 126.5 139.3 162.5

80.0 86.7 97.1 107.9 126.6

26.7 28.3 29.5 31.4 35.9

7.3 11.6 9.1 8.6 10.9

1 038.5 1 127.1 1 238.3 1 382.7 1 500.0

1975 1976 1977 1978 1979

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

120.2 146.8 173.3 193.8 188.6

51.6 65.3 74.4 84.9 90.0

68.6 81.5 98.9 108.9 98.6

26.4 30.1 33.7 39.6 41.5

42.2 51.4 65.2 69.3 57.1

-3.2 -1.8 -2.6 -1.9 -2.6

187.7 205.2 230.0 262.3 300.1

147.8 162.5 184.3 212.8 245.7

40.0 42.6 45.7 49.5 54.5

17.7 25.1 22.3 26.6 46.0

1 638.3 1 825.3 2 030.9 2 294.7 2 563.3

1980 1981 1982 1983 1984

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

165.7 196.4 177.1 229.2 282.0

87.2 84.3 66.5 80.6 97.5

78.5 112.1 110.6 148.5 184.5

47.3 58.3 61.3 71.3 78.5

31.1 53.8 49.2 77.2 106.0

-4.8 -4.9 -4.0 -3.1 -1.9

343.0 388.1 426.9 443.8 472.6

281.1 317.9 349.8 362.1 385.6

61.8 70.1 77.1 81.7 87.0

41.4 30.9 0.3 45.7 14.6

2 789.5 3 128.4 3 255.0 3 536.7 3 933.2

1985 1986 1987 1988 1989

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

292.2 280.0 320.8 375.7 359.5

99.4 109.7 130.4 141.6 146.1

192.8 170.4 190.4 234.0 213.4

85.7 88.3 95.6 98.0 126.4

107.1 82.1 94.8 136.0 87.0

0.8 1.3 1.2 2.5 4.9

506.7 531.3 561.9 597.6 644.3

414.0 431.8 455.3 483.5 522.1

92.7 99.5 106.7 114.1 122.2

16.7 47.0 21.7 -19.5 39.7

4 220.3 4 462.8 4 739.5 5 103.8 5 484.4

1990 1991 1992 1993 1994

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

361.7 374.7 406.2 465.0 523.2

145.4 138.6 148.7 171.0 193.7

216.3 236.1 257.5 294.0 329.5

144.1 156.4 159.9 182.2 197.4

72.2 79.8 97.7 111.7 132.0

1.6 5.7 7.6 7.2 8.6

682.5 725.9 751.9 776.4 833.7

551.6 586.9 607.3 624.7 675.1

130.9 139.1 144.6 151.8 158.6

66.2 72.5 102.7 139.5 142.5

5 803.1 5 995.9 6 337.7 6 657.4 7 072.2

1995 1996 1997 1998 1999

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

603.9 684.3 757.5 698.7 729.8

218.7 231.7 246.1 248.3 258.6

385.2 452.6 511.5 450.4 471.1

221.6 257.3 283.9 309.2 295.7

163.7 195.3 227.6 141.2 175.5

11.4 12.7 12.6 10.3 10.1

878.4 918.1 974.4 1 030.2 1 101.3

713.4 748.8 800.3 851.2 914.3

165.0 169.3 174.1 179.0 187.0

101.2 93.7 70.7 -14.6 -35.7

7 397.7 7 816.9 8 304.3 8 747.0 9 268.4

2000 2001 2002 2003 2004

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

672.2 597.6 730.5 855.8 976.6

265.2 204.1 192.6 232.1 271.1

407.0 393.5 537.9 623.6 705.5

348.4 330.1 351.3 393.4 457.1

58.6 63.4 186.5 230.2 248.4

5.3 -1.4 0.9 1.3 -3.0

1 187.8 1 281.5 1 292.0 1 331.3 1 435.3

990.8 1 075.5 1 080.3 1 112.8 1 206.2

197.0 206.0 211.6 218.5 229.1

-127.2 -89.6 -21.0 47.1 76.8

9 817.0 10 128.0 10 469.6 10 971.2 11 734.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

674.4 717.1 740.8 789.6

174.9 188.5 196.9 210.2

499.5 528.6 543.9 579.5

337.9 355.5 338.5 373.5

161.6 173.1 205.4 206.0

-1.6 -1.2 4.0 2.3

1 282.0 1 288.2 1 294.9 1 302.7

1 073.1 1 077.5 1 082.4 1 088.4

208.9 210.8 212.5 214.3

-53.6 -56.7 14.6 11.7

10 333.3 10 426.6 10 527.4 10 591.1

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

796.9 835.2 882.8 908.1

223.9 221.7 235.3 247.5

573.0 613.5 647.5 660.5

355.6 427.2 388.1 402.7

217.4 186.3 259.4 257.8

4.1 1.8 0.4 -1.1

1 311.8 1 323.8 1 337.2 1 352.5

1 095.7 1 105.8 1 117.8 1 131.8

216.1 218.1 219.3 220.6

16.6 14.4 85.3 72.0

10 717.0 10 844.6 11 087.4 11 236.0

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

949.1 985.1 931.3 1 040.9

257.9 274.7 259.0 293.0

691.2 710.4 672.3 747.8

423.0 415.8 420.5 569.1

268.3 294.7 251.8 178.7

-1.6 -2.2 -3.0 -5.2

1 371.1 1 393.8 1 534.1 1 442.0

1 147.8 1 165.8 1 303.5 1 207.6

223.3 228.1 230.6 234.5

77.8 108.1 90.8 30.6

11 457.1 11 666.1 11 818.8 11 995.2

. . . = Not available.

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

19

Table 1-11. National Income by Type of Income (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.7.5, 1.12

Compensation of employees Wage and salary accruals Year and quarter

National income, total

Proprietors’ income with IVA and CCAdj

Supplements to wages and salaries Employer contributions for:

Total

Total Total

Government

Other

Farm

Nonfarm

Employee Government pension and social insurance insurance funds

Total

Rental income of persons with CCAdj

1946 1947 1948 1949

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

198.5 216.6 243.0 238.0

119.6 130.1 142.0 141.9

112.0 123.1 135.6 134.7

20.7 17.5 19.0 20.8

91.3 105.6 116.5 113.9

7.6 7.0 6.4 7.1

2.5 3.0 3.4 3.8

5.1 3.9 3.0 3.3

35.6 34.5 39.3 34.7

14.2 14.4 16.7 12.0

21.4 20.2 22.6 22.7

7.1 7.2 7.9 8.2

1950 1951 1952 1953 1954

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

264.4 304.3 321.8 339.5 339.4

155.3 181.4 196.2 210.2 209.2

147.3 171.6 185.6 199.0 197.3

22.6 29.2 33.4 34.3 34.9

124.6 142.4 152.3 164.7 162.4

8.0 9.8 10.5 11.2 11.9

4.7 5.7 6.4 7.0 7.3

3.4 4.1 4.1 4.2 4.6

37.6 42.7 43.1 42.1 42.3

12.9 15.3 14.3 12.1 11.7

24.7 27.4 28.8 30.0 30.6

9.2 10.1 11.2 12.5 13.5

1955 1956 1957 1958 1959

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

372.7 395.6 414.3 416.8 455.8

225.7 244.5 257.5 259.5 281.0

212.2 229.0 240.0 241.3 259.8

36.6 38.8 41.0 44.1 46.1

175.6 190.2 198.9 197.2 213.8

13.5 15.5 17.6 18.2 21.1

8.4 9.8 11.2 11.9 13.3

5.2 5.7 6.4 6.3 7.9

44.3 45.8 47.9 50.1 50.7

10.6 10.5 10.4 12.3 10.0

33.7 35.4 37.4 37.8 40.6

13.9 14.2 14.6 15.4 16.2

1960 1961 1962 1963 1964

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

474.9 491.6 530.1 560.6 602.7

296.4 305.3 327.1 345.2 370.7

272.9 280.5 299.4 314.9 337.8

49.2 52.5 56.3 60.0 64.9

223.7 228.0 243.0 254.8 272.9

23.6 24.8 27.8 30.4 32.9

14.3 15.2 16.6 18.0 20.3

9.3 9.6 11.2 12.4 12.6

50.8 53.2 55.4 56.5 59.4

10.5 11.0 11.0 10.8 9.6

40.3 42.2 44.4 45.7 49.8

17.1 17.9 18.8 19.5 19.6

1965 1966 1967 1968 1969

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

653.4 711.0 751.9 823.2 889.7

399.5 442.7 475.1 524.3 577.6

363.8 400.3 429.0 472.0 518.3

69.9 78.4 86.5 96.7 105.6

293.8 321.9 342.5 375.3 412.7

35.7 42.3 46.1 52.3 59.3

22.7 25.5 28.1 32.4 36.5

13.1 16.8 18.0 20.0 22.8

63.9 68.2 69.8 74.3 77.4

11.8 12.8 11.5 11.5 12.6

52.1 55.4 58.4 62.8 64.7

20.2 20.8 21.2 20.9 21.2

1970 1971 1972 1973 1974

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

930.9 1 008.1 1 111.2 1 247.4 1 342.1

617.2 658.9 725.1 811.2 890.2

551.6 584.5 638.8 708.8 772.3

117.2 126.8 137.9 148.8 160.5

434.3 457.8 500.9 560.0 611.8

65.7 74.4 86.4 102.5 118.0

41.8 47.9 55.2 62.7 73.3

23.8 26.4 31.2 39.8 44.7

78.4 84.8 95.9 113.5 113.1

12.7 13.2 16.8 28.9 23.2

65.7 71.6 79.1 84.6 89.9

21.4 22.4 23.4 24.3 24.3

1975 1976 1977 1978 1979

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

1 445.9 1 611.8 1 798.9 2 027.4 2 249.1

949.1 1 059.3 1 180.5 1 336.1 1 500.8

814.8 899.7 994.2 1 121.2 1 255.8

176.2 188.9 202.6 220.0 237.1

638.6 710.8 791.6 901.2 1 018.7

134.3 159.6 186.4 214.9 245.0

87.6 105.2 125.3 143.4 162.4

46.7 54.4 61.1 71.5 82.6

119.5 132.2 145.7 166.6 180.1

21.7 17.0 15.7 19.6 21.8

97.8 115.2 130.0 147.1 158.3

23.7 22.3 20.7 22.1 23.8

1980 1981 1982 1983 1984

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

2 439.3 2 742.4 2 864.3 3 084.2 3 482.3

1 651.8 1 825.8 1 925.8 2 042.6 2 255.6

1 377.6 1 517.5 1 593.7 1 684.6 1 855.1

261.5 285.8 307.5 324.8 348.1

1 116.2 1 231.7 1 286.2 1 359.8 1 507.0

274.2 308.3 332.1 358.0 400.5

185.2 204.7 222.4 238.1 261.5

88.9 103.6 109.8 119.9 139.0

174.1 183.0 176.3 192.5 243.3

11.3 18.7 13.1 6.0 20.6

162.8 164.3 163.3 186.5 222.7

30.0 38.0 38.8 37.8 40.2

1985 1986 1987 1988 1989

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

3 723.4 3 902.3 4 173.7 4 549.4 4 826.6

2 424.7 2 570.1 2 750.2 2 967.2 3 145.2

1 995.5 2 114.8 2 270.7 2 452.9 2 596.3

373.9 397.0 422.6 451.3 480.2

1 621.6 1 717.9 1 848.1 2 001.6 2 116.2

429.2 455.3 479.5 514.2 548.9

281.5 297.5 313.2 329.6 355.2

147.7 157.9 166.3 184.6 193.7

262.3 275.7 302.2 341.6 363.3

20.8 22.6 28.7 26.8 33.0

241.5 253.1 273.5 314.7 330.3

41.9 33.5 33.5 40.6 43.1

1990 1991 1992 1993 1994

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

5 089.1 5 227.9 5 512.8 5 773.4 6 122.3

3 338.2 3 445.2 3 635.4 3 801.4 3 997.2

2 754.0 2 823.0 2 964.5 3 089.2 3 249.8

517.7 546.8 569.2 586.8 606.2

2 236.3 2 276.2 2 395.3 2 502.4 2 643.5

584.2 622.3 670.9 712.2 747.5

377.8 407.1 442.5 472.4 493.3

206.5 215.1 228.4 239.8 254.1

380.6 377.1 427.6 453.8 473.3

31.9 26.7 34.5 31.2 33.9

348.7 350.4 393.0 422.6 439.4

50.7 60.3 78.0 95.6 119.7

1995 1996 1997 1998 1999

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

6 453.9 6 840.1 7 292.2 7 752.8 8 236.7

4 193.3 4 390.5 4 661.7 5 019.4 5 357.1

3 435.7 3 623.2 3 874.7 4 182.7 4 471.4

625.5 644.4 668.1 697.3 729.3

2 810.2 2 978.8 3 206.6 3 485.5 3 742.1

757.7 767.3 787.0 836.7 885.7

493.6 492.5 497.5 529.7 562.4

264.0 274.9 289.5 307.0 323.3

492.1 543.2 576.0 627.8 678.3

22.7 37.3 34.2 29.4 28.6

469.5 505.9 541.8 598.4 649.7

122.1 131.5 128.8 137.5 147.3

2000 2001 2002 2003 2004

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

8 795.2 8 979.8 9 229.3 9 660.9 10 275.9

5 782.7 5 942.1 6 091.2 6 321.1 6 687.6

4 829.2 4 942.8 4 980.9 5 111.1 5 389.4

774.7 815.9 865.9 903.3 939.5

4 054.5 4 126.9 4 115.0 4 207.8 4 450.0

953.4 999.3 1 110.3 1 210.0 1 298.1

609.9 642.7 745.1 830.0 895.5

343.5 356.6 365.2 380.0 402.7

728.4 771.9 768.4 810.2 889.6

22.7 19.7 10.6 27.7 35.8

705.7 752.2 757.8 782.4 853.8

150.3 167.4 152.9 131.7 134.2

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 131.1 9 211.7 9 247.5 9 326.7

6 025.3 6 091.5 6 114.5 6 133.4

4 961.2 4 989.4 4 988.5 4 984.5

855.4 863.7 869.3 875.4

4 105.7 4 125.7 4 119.2 4 109.1

1 064.2 1 102.1 1 126.0 1 148.9

700.7 736.2 760.1 783.2

363.4 365.8 365.9 365.8

763.0 763.5 769.1 778.1

8.9 4.0 11.0 18.4

754.1 759.4 758.1 759.7

172.1 167.7 142.9 129.2

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 433.6 9 573.2 9 732.3 9 904.8

6 210.4 6 286.6 6 360.1 6 427.4

5 031.1 5 086.4 5 139.8 5 187.3

895.1 902.3 906.1 909.9

4 135.9 4 184.1 4 233.8 4 277.4

1 179.4 1 200.2 1 220.2 1 240.1

804.8 821.6 838.1 855.4

374.6 378.6 382.1 384.7

778.3 801.4 821.1 840.0

20.5 27.2 28.2 35.1

757.8 774.1 793.0 804.8

137.7 125.4 120.4 143.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 091.2 10 210.9 10 242.4 10 559.3

6 528.2 6 602.1 6 724.2 6 895.8

5 256.3 5 316.6 5 422.0 5 562.9

928.8 936.3 942.8 950.0

4 327.5 4 380.3 4 479.2 4 612.9

1 271.9 1 285.5 1 302.3 1 332.9

877.0 887.5 897.9 919.6

394.9 398.0 404.4 413.4

870.2 898.4 889.1 900.9

44.8 44.1 29.7 24.6

825.4 854.2 859.4 876.3

144.2 141.8 122.1 128.7

20

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-11. National Income by Type of Income—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.7.5, 1.12

Corporate profits with IVA and CCAdj

Business current transfer payments (net)

Profits after tax Year and quarter Total

Taxes on corporate income

Total

Net dividends

Undistributed corporate profits

Net interest Taxes on and production miscellaand neous imports payments

Less: Subsidies Total 1

Current Addendum: surplus of Net governnational ment factor To governTo persons enterprises income ment

1946 1947 1948 1949

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

17.8 23.7 31.2 29.1

9.1 11.3 12.4 10.2

8.7 12.4 18.7 18.9

5.6 6.3 7.0 7.2

3.2 6.1 11.7 11.6

1.9 2.5 2.6 2.9

16.8 18.1 19.7 20.9

1.2 0.2 0.3 0.3

0.7 0.7 0.7 0.7

0.4 0.4 0.4 0.4

0.3 0.3 0.4 0.4

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

182.1 198.0 222.9 216.6

1950 1951 1952 1953 1954

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

36.0 41.2 39.3 39.7 38.8

17.9 22.6 19.4 20.3 17.6

18.1 18.6 19.9 19.4 21.2

8.8 8.6 8.6 8.9 9.3

9.3 10.1 11.3 10.6 11.9

3.2 3.7 4.1 4.7 5.6

23.0 24.8 27.1 29.1 28.9

0.6 0.7 0.4 0.1 -0.1

0.9 1.2 1.3 1.2 1.0

0.6 0.9 0.9 0.8 0.6

0.3 0.3 0.4 0.4 0.4

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

241.2 279.1 293.9 309.3 309.4

1955 1956 1957 1958 1959

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

49.5 48.5 48.4 43.5 55.7

22.0 22.0 21.4 19.0 23.7

27.5 26.5 26.9 24.5 32.0

10.5 11.3 11.7 11.6 12.6

17.0 15.3 15.2 13.0 19.4

6.2 6.9 8.0 9.5 9.6

31.5 34.3 36.6 37.7 41.1

-0.2 0.4 0.7 0.9 1.1

1.4 1.7 1.9 1.8 1.8

0.9 1.2 1.4 1.2 1.3

0.4 0.5 0.5 0.6 0.4

... ... ... ... 1.0

339.6 359.9 376.4 378.1 413.1

1960 1961 1962 1963 1964

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

53.8 54.9 63.3 69.0 76.5

22.8 22.9 24.1 26.4 28.2

31.0 32.0 39.2 42.6 48.3

13.4 13.9 15.0 16.2 18.2

17.6 18.1 24.1 26.4 30.1

10.6 12.5 14.2 15.2 17.4

44.6 47.0 50.4 53.4 57.3

1.1 2.0 2.3 2.2 2.7

1.9 2.0 2.2 2.7 3.1

1.3 1.4 1.5 1.9 2.2

0.5 0.7 0.7 0.8 0.9

0.9 0.8 0.9 1.4 1.3

428.7 443.7 478.8 505.3 543.6

1965 1966 1967 1968 1969

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

87.5 93.2 91.3 98.8 95.4

31.1 33.9 32.9 39.6 40.0

56.4 59.3 58.4 59.2 55.4

20.2 20.7 21.5 23.5 24.2

36.2 38.7 36.9 35.6 31.2

19.6 22.4 25.5 27.1 32.7

60.8 63.3 68.0 76.5 84.0

3.0 3.9 3.8 4.2 4.5

3.6 3.5 3.8 4.3 4.9

2.3 2.1 2.3 2.8 3.3

1.4 1.4 1.5 1.5 1.6

1.3 1.0 0.9 1.2 1.0

590.7 647.2 683.0 745.4 804.3

1970 1971 1972 1973 1974

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

83.6 98.0 112.1 125.5 115.8

34.8 38.2 42.3 50.0 52.8

48.9 59.9 69.7 75.5 63.0

24.3 25.0 26.8 29.9 33.2

24.6 34.8 42.9 45.6 29.8

39.1 43.9 47.9 55.2 70.8

91.5 100.6 108.1 117.3 125.0

4.8 4.7 6.6 5.2 3.3

4.5 4.3 4.9 6.0 7.1

2.9 2.7 3.1 3.9 4.7

1.6 1.6 1.8 2.0 2.4

0.0 -0.2 0.5 -0.4 -0.9

839.7 908.1 1 004.4 1 129.7 1 214.2

1975 1976 1977 1978 1979

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

134.8 163.3 192.4 216.6 223.2

51.6 65.3 74.4 84.9 90.0

83.2 98.1 118.0 131.8 133.2

33.0 39.0 44.8 50.8 57.5

50.2 59.0 73.2 81.0 75.7

81.6 85.5 101.1 115.0 138.9

135.5 146.6 159.9 171.2 180.4

4.5 5.1 7.1 8.9 8.5

9.4 9.5 8.4 10.6 13.0

6.8 6.7 5.1 6.5 8.2

2.6 2.8 3.3 4.1 4.8

-3.2 -1.8 -2.6 -1.9 -2.6

1 308.8 1 462.7 1 640.4 1 856.5 2 066.8

1980 1981 1982 1983 1984

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

201.1 226.1 209.7 264.2 318.6

87.2 84.3 66.5 80.6 97.5

113.9 141.8 143.2 183.6 221.1

64.1 73.8 77.7 83.5 90.8

49.9 68.0 65.4 100.1 130.3

181.8 232.3 271.1 285.3 327.1

200.7 236.0 241.3 263.7 290.2

9.8 11.5 15.0 21.2 21.0

14.4 17.6 20.1 22.5 30.1

8.6 11.2 12.4 13.8 19.7

5.7 6.4 7.8 8.7 10.4

-4.8 -4.9 -4.0 -3.1 -1.9

2 238.9 2 505.2 2 621.8 2 822.4 3 184.8

1985 1986 1987 1988 1989

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

330.3 319.5 368.8 432.6 426.6

99.4 109.7 130.4 141.6 146.1

230.9 209.8 238.4 291.0 280.5

97.6 106.2 112.3 129.9 158.0

133.4 103.7 126.1 161.1 122.6

341.3 366.8 366.4 385.3 432.1

308.5 323.7 347.9 374.9 399.3

21.3 24.8 30.2 29.4 27.2

34.8 36.6 33.8 34.0 39.2

22.3 22.9 20.2 20.6 23.5

12.6 13.6 13.6 13.4 15.7

0.8 1.3 1.2 2.5 4.9

3 400.5 3 565.6 3 821.1 4 167.3 4 410.3

1990 1991 1992 1993 1994

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

437.8 451.2 479.3 541.9 600.3

145.4 138.6 148.7 171.0 193.7

292.4 312.6 330.6 370.9 406.5

169.1 180.7 187.9 202.8 234.7

123.3 131.9 142.7 168.1 171.8

442.2 418.2 388.5 365.7 366.4

425.5 457.5 483.8 503.4 545.6

26.8 27.3 29.9 36.4 32.2

39.4 39.9 42.4 40.7 43.3

22.2 17.9 19.6 14.4 15.1

17.2 22.0 24.5 26.6 28.6

1.6 5.7 7.6 7.2 8.6

4 649.4 4 752.1 5 008.8 5 258.4 5 556.9

1995 1996 1997 1998 1999

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

696.7 786.2 868.5 801.6 851.3

218.7 231.7 246.1 248.3 258.6

478.0 554.5 622.4 553.3 592.6

254.2 297.6 334.5 351.6 337.4

223.8 256.9 287.9 201.7 255.3

367.1 376.2 415.6 487.1 495.4

558.2 581.1 612.0 639.8 674.0

34.0 34.3 32.9 35.4 44.2

46.9 53.1 49.9 64.7 67.4

19.0 22.9 19.4 26.0 34.1

26.5 31.1 29.7 35.0 35.9

11.4 12.7 12.6 10.3 10.1

5 871.4 6 227.6 6 650.6 7 073.3 7 529.4

2000 2001 2002 2003 2004

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

817.9 767.3 886.3 1 031.8 1 161.5

265.2 204.1 192.6 232.1 271.1

552.7 563.2 693.7 799.7 890.3

377.9 370.9 399.2 423.2 493.0

174.8 192.3 294.5 376.5 397.3

559.0 566.3 520.9 528.5 505.5

708.9 728.6 762.8 801.4 852.8

44.3 55.3 38.4 46.7 43.5

87.1 92.8 84.3 81.6 91.1

42.4 50.0 37.3 30.5 33.0

43.7 47.5 46.6 48.9 51.5

5.3 -1.4 0.9 1.3 -3.0

8 038.3 8 215.0 8 419.8 8 823.3 9 378.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

829.4 864.3 895.4 956.1

174.9 188.5 196.9 210.2

654.5 675.8 698.5 746.0

382.5 396.1 406.1 412.0

272.0 279.7 292.4 334.0

545.8 519.3 507.0 511.5

746.0 757.9 771.6 775.5

39.9 37.0 38.3 38.3

91.1 85.8 81.4 78.8

42.3 38.6 35.4 32.9

46.7 46.5 46.6 46.7

-1.6 -1.2 4.0 2.3

8 335.6 8 406.2 8 428.9 8 508.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

951.5 1 005.0 1 057.5 1 113.1

223.9 221.7 235.3 247.5

727.6 783.3 822.2 865.6

416.3 419.9 424.6 432.0

311.3 363.4 397.7 433.6

530.9 532.4 528.1 522.7

783.8 794.7 806.6 820.6

42.1 54.6 44.5 45.4

79.0 80.5 82.5 84.3

31.6 30.8 30.1 29.3

47.5 48.5 49.5 50.0

4.1 1.8 0.4 -1.1

8 608.8 8 750.8 8 887.3 9 046.4

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 147.3 1 162.0 1 117.2 1 219.5

257.9 274.7 259.0 293.0

889.4 887.3 858.2 926.4

445.9 460.9 475.9 589.3

443.5 426.4 382.3 337.2

519.9 512.2 497.5 492.7

837.1 847.8 855.5 870.9

42.3 41.8 43.2 46.5

88.2 90.7 83.0 102.6

29.0 28.9 44.4 29.8

51.4 52.1 47.8 54.7

-1.6 -2.2 -3.0 -5.2

9 209.8 9 316.3 9 350.1 9 637.6

1Includes

net transfer payments to the rest of the world, not shown separately. . . . = Not available.

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

21

Table 1-12. Gross and Net Value Added of Domestic Corporate Business (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 1.14 Net value added

Year and quarter

Gross value Consumpadded of tion of corporate fixed business, capital total

Net operating surplus

Total

Taxes on production Compenand sation of imports employees less subsidies

Total

Net interest and miscellaneous payments

Business current transfer payments

Gross value added of financial corporate business

Corporate profits with IVA and CCAdj

Total

Taxes on corporate income

Profits after tax Total

Net dividends

Undistributed

1946 1947 1948 1949

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

104.4 126.0 144.5 141.5

7.0 8.7 10.1 10.9

97.4 117.3 134.4 130.7

69.9 82.1 91.1 88.8

9.8 11.5 12.7 13.4

17.8 23.6 30.5 28.5

0.1 0.3 0.0 0.0

0.6 0.6 0.6 0.6

17.1 22.7 29.9 27.9

9.1 11.3 12.4 10.2

8.0 11.4 17.5 17.7

5.1 5.6 6.2 6.4

2.9 5.8 11.3 11.3

5.1 5.3 6.1 6.8

1950 1951 1952 1953 1954

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

160.4 183.9 192.6 206.2 203.6

11.6 13.2 14.0 14.8 15.7

148.8 170.7 178.6 191.4 188.0

98.7 114.6 123.0 134.0 132.2

14.8 15.9 17.3 18.5 17.9

35.3 40.3 38.2 38.9 37.8

-0.1 -0.2 -0.2 0.0 0.2

0.7 1.1 1.1 1.0 0.8

34.7 39.5 37.4 37.9 36.9

17.9 22.6 19.4 20.3 17.6

16.8 16.9 18.0 17.6 19.3

7.9 7.4 7.5 7.8 7.9

9.0 9.5 10.5 9.9 11.4

7.3 8.2 9.2 10.2 10.8

1955 1956 1957 1958 1959

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

229.5 245.6 256.9 251.8 281.9

16.6 18.7 20.5 21.6 21.8

212.9 226.9 236.4 230.2 260.1

144.6 158.2 166.5 164.0 180.3

19.8 21.5 22.8 23.1 25.6

48.5 47.2 47.1 43.0 54.2

0.2 0.0 0.2 0.6 -0.2

1.2 1.5 1.7 1.5 1.5

47.2 45.7 45.3 41.0 53.0

22.0 22.0 21.4 19.0 23.7

25.1 23.7 23.8 22.0 29.2

8.9 9.5 9.9 9.8 10.7

16.2 14.2 14.0 12.2 18.5

11.8 12.9 13.8 14.7 15.9

1960 1961 1962 1963 1964

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

293.9 302.1 329.0 349.5 377.7

23.3 23.9 24.6 26.0 27.2

270.6 278.2 304.4 323.5 350.4

190.7 195.6 211.0 222.7 239.2

27.8 28.9 31.2 33.2 35.6

52.0 53.7 62.2 67.7 75.7

-0.2 0.4 0.7 0.4 0.8

1.6 1.8 2.0 2.4 2.9

50.6 51.5 59.5 64.9 72.0

22.8 22.9 24.1 26.4 28.2

27.9 28.6 35.4 38.5 43.8

11.4 11.5 12.4 13.6 15.0

16.4 17.1 23.0 25.0 28.9

17.5 18.4 19.3 19.7 21.6

1965 1966 1967 1968 1969

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

414.4 454.1 479.3 529.1 576.7

29.4 32.7 35.6 39.1 44.2

385.0 421.4 443.6 490.1 532.5

259.9 288.5 308.4 341.3 378.6

37.8 38.9 41.4 47.8 52.9

87.3 94.0 93.8 100.9 101.0

1.2 2.3 4.0 3.9 7.8

3.3 3.0 3.3 3.8 4.4

82.8 88.7 86.6 93.2 88.8

31.1 33.9 32.9 39.6 40.0

51.7 54.8 53.7 53.5 48.8

16.9 17.8 18.3 20.2 20.4

34.8 37.0 35.3 33.4 28.4

23.2 25.1 28.1 31.3 36.2

1970 1971 1972 1973 1974

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

597.8 646.1 716.8 802.6 869.9

48.9 52.9 59.1 65.9 78.2

548.9 593.2 657.7 736.6 791.7

400.2 425.3 472.5 533.9 587.4

57.0 62.8 67.3 74.1 78.6

91.7 105.2 117.9 128.6 125.6

11.3 11.5 11.3 13.0 20.7

3.9 3.5 4.0 5.0 6.6

76.5 90.2 102.6 110.6 98.3

34.8 38.2 42.3 50.0 52.8

41.8 52.0 60.2 60.6 45.5

20.4 20.3 21.9 23.1 23.5

21.4 31.7 38.3 37.5 22.1

39.4 43.1 47.3 51.8 60.0

1975 1976 1977 1978 1979

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

944.4 1 062.9 1 205.2 1 376.4 1 530.7

92.9 102.8 117.4 136.0 157.2

851.6 960.1 1 087.8 1 240.4 1 373.4

614.9 695.2 784.8 901.9 1 023.4

84.5 91.4 100.0 108.7 115.0

152.2 173.5 203.0 229.8 235.0

23.4 18.8 23.3 27.5 34.9

8.6 7.9 6.4 8.5 11.5

120.2 146.8 173.3 193.8 188.6

51.6 65.3 74.4 84.9 90.0

68.6 81.5 98.9 108.9 98.6

26.4 30.1 33.7 39.6 41.5

42.2 51.4 65.2 69.3 57.1

67.8 73.2 85.8 103.6 114.7

1980 1981 1982 1983 1984

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

1 666.0 1 893.3 1 971.4 2 121.0 2 378.0

180.1 205.3 227.5 236.0 252.9

1 485.8 1 688.0 1 743.9 1 885.0 2 125.1

1 122.6 1 243.9 1 297.5 1 371.2 1 520.3

128.6 154.4 161.3 177.4 195.6

234.6 289.7 285.2 336.3 409.2

55.9 77.7 90.0 86.6 98.8

13.0 15.6 18.1 20.6 28.3

165.7 196.4 177.1 229.2 282.0

87.2 84.3 66.5 80.6 97.5

78.5 112.1 110.6 148.5 184.5

47.3 58.3 61.3 71.3 78.5

31.1 53.8 49.2 77.2 106.0

128.8 147.3 165.2 188.0 210.5

1985 1986 1987 1988 1989

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

2 535.3 2 649.8 2 837.9 3 071.3 3 235.0

274.0 284.4 300.0 318.9 344.6

2 261.3 2 365.4 2 537.9 2 752.3 2 890.4

1 630.9 1 728.6 1 849.8 1 988.9 2 097.6

209.0 219.6 233.4 252.0 267.5

421.4 417.2 454.8 511.4 525.3

96.9 107.0 108.3 108.7 129.4

32.3 30.1 25.6 27.1 36.5

292.2 280.0 320.8 375.7 359.5

99.4 109.7 130.4 141.6 146.1

192.8 170.4 190.4 234.0 213.4

85.7 88.3 95.6 98.0 126.4

107.1 82.1 94.8 136.0 87.0

233.3 262.3 280.8 299.7 322.7

1990 1991 1992 1993 1994

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

3 382.0 3 468.9 3 643.1 3 824.8 4 103.4

367.5 395.7 408.7 421.3 456.6

3 014.5 3 073.2 3 234.4 3 403.5 3 646.9

2 208.1 2 253.0 2 377.0 2 489.2 2 633.0

284.5 307.9 325.9 343.5 375.6

521.9 512.3 531.5 570.8 638.3

125.3 101.7 79.3 72.1 74.9

34.9 35.8 46.0 33.7 40.2

361.7 374.7 406.2 465.0 523.2

145.4 138.6 148.7 171.0 193.7

216.3 236.1 257.5 294.0 329.5

144.1 156.4 159.9 182.2 197.4

72.2 79.8 97.7 111.7 132.0

340.5 369.2 407.1 427.0 433.9

1995 1996 1997 1998 1999

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

4 354.5 4 626.5 4 983.6 5 313.6 5 655.0

486.9 513.6 553.6 589.0 632.0

3 867.6 4 112.9 4 430.0 4 724.6 5 023.0

2 774.1 2 916.1 3 125.0 3 397.6 3 645.2

384.1 397.4 415.7 429.8 449.4

709.3 799.4 889.3 897.2 928.4

66.4 70.0 95.4 143.3 142.3

39.1 45.1 36.3 55.2 56.3

603.9 684.3 757.5 698.7 729.8

218.7 231.7 246.1 248.3 258.6

385.2 452.6 511.5 450.4 471.1

221.6 257.3 283.9 309.2 295.7

163.7 195.3 227.6 141.2 175.5

475.0 517.0 581.8 658.6 704.1

2000 2001 2002 2003 2004

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

6 051.8 6 099.4 6 225.8 6 478.6 6 914.4

690.0 752.5 742.1 754.4 799.6

5 361.8 5 346.9 5 483.7 5 724.3 6 114.8

3 957.7 4 016.7 4 044.5 4 156.2 4 395.0

477.1 473.6 502.7 526.4 561.5

926.9 856.6 936.5 1 041.7 1 158.3

178.1 171.3 135.9 124.5 97.4

76.6 87.7 70.1 61.5 84.3

672.2 597.6 730.5 855.8 976.6

265.2 204.1 192.6 232.1 271.1

407.0 393.5 537.9 623.6 705.5

348.4 330.1 351.3 393.4 457.1

58.6 63.4 186.5 230.2 248.4

779.6 805.9 854.1 882.9 918.9

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

6 139.1 6 216.3 6 249.5 6 298.4

741.7 741.5 741.9 743.3

5 397.4 5 474.7 5 507.6 5 555.1

4 005.2 4 050.0 4 060.8 4 061.9

490.7 499.8 507.8 512.6

901.5 924.9 939.0 980.7

147.8 135.2 131.7 128.9

79.3 72.6 66.4 62.1

674.4 717.1 740.8 789.6

174.9 188.5 196.9 210.2

499.5 528.6 543.9 579.5

337.9 355.5 338.5 373.5

161.6 173.1 205.4 206.0

854.4 858.0 853.9 850.0

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

6 333.4 6 422.1 6 539.1 6 619.9

746.3 750.7 756.6 763.8

5 587.1 5 671.4 5 782.5 5 856.1

4 081.7 4 132.5 4 181.8 4 228.6

517.3 514.5 533.3 540.7

988.1 1 024.4 1 067.4 1 086.8

130.9 128.7 122.9 115.3

60.2 60.5 61.8 63.4

796.9 835.2 882.8 908.1

223.9 221.7 235.3 247.5

573.0 613.5 647.5 660.5

355.6 427.2 388.1 402.7

217.4 186.3 259.4 257.8

876.8 880.3 889.1 885.5

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

6 730.5 6 827.0 6 957.0 7 143.1

772.4 782.5 836.8 806.7

5 958.0 6 044.5 6 120.2 6 336.4

4 281.8 4 331.6 4 419.4 4 547.0

551.4 558.3 563.1 573.1

1 124.8 1 154.6 1 137.6 1 216.2

108.3 98.9 91.9 90.5

67.4 70.6 114.4 84.9

949.1 985.1 931.3 1 040.9

257.9 274.7 259.0 293.0

691.2 710.4 672.3 747.8

423.0 415.8 420.5 569.1

268.3 294.7 251.8 178.7

908.5 904.2 919.0 944.1

22

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 1-13. Gross Value Added of Nonfinancial Domestic Corporate Business in Current and Chained Dollars (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 1.14

Current-dollar gross value added Net value added

Gross value added in billions of chained (2000) dollars

Net operating surplus Year and quarter Total

Consumption of fixed capital

Total

Compensation of employees

Taxes on production and imports less subsidies

Total

Net interest and miscellaneous payments

Business current transfer payments

Corporate profits with IVA and CCAdj

Total

Taxes on corporate income

Profits after tax Total

Net dividends

Undistributed

1946 1947 1948 1949

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

99.4 120.6 138.4 134.7

6.8 8.4 9.8 10.6

92.6 112.2 128.6 124.2

66.9 78.8 87.5 84.9

9.5 11.2 12.4 13.0

16.2 22.2 28.7 26.3

0.7 0.8 0.8 1.0

0.5 0.6 0.6 0.6

15.0 20.9 27.3 24.8

8.6 10.8 11.7 9.3

6.5 10.1 15.6 15.5

4.9 5.4 5.9 6.0

1.6 4.8 9.7 9.5

521.5 557.9 602.6 598.1

1950 1951 1952 1953 1954

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

153.1 175.7 183.4 195.9 192.9

11.3 12.9 13.6 14.4 15.2

141.8 162.9 169.7 181.6 177.7

94.4 109.8 117.8 128.2 125.9

14.4 15.4 16.8 17.9 17.3

33.1 37.7 35.2 35.5 34.4

0.9 1.0 1.2 1.3 1.6

0.6 0.8 0.9 1.0 0.9

31.6 35.9 33.1 33.2 31.9

16.8 21.1 17.7 18.4 15.5

14.8 14.8 15.5 14.9 16.4

7.4 7.0 7.1 7.2 7.4

7.4 7.7 8.4 7.6 9.0

675.3 714.0 738.8 792.6 783.0

1955 1956 1957 1958 1959

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

217.7 232.7 243.1 237.1 266.0

16.1 18.1 19.9 21.0 21.1

201.7 214.6 223.2 216.2 244.9

137.9 150.8 158.4 155.2 170.8

19.2 20.8 22.0 22.3 24.4

44.6 43.0 42.7 38.6 49.7

1.6 1.8 2.2 2.8 2.9

1.0 1.1 1.2 1.2 1.3

41.9 40.2 39.4 34.6 45.5

20.1 19.9 19.0 16.1 20.7

21.8 20.2 20.4 18.6 24.8

8.4 9.0 9.2 9.1 9.8

13.4 11.2 11.2 9.5 15.0

878.0 907.2 919.1 882.5 980.4

1960 1961 1962 1963 1964

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

276.4 283.7 309.8 329.9 356.1

22.6 23.2 23.9 25.2 26.4

253.8 260.5 285.9 304.7 329.7

180.4 184.5 199.3 210.1 225.7

26.6 27.6 29.9 31.7 33.9

46.8 48.4 56.8 62.9 70.2

3.2 3.7 4.3 4.7 5.2

1.4 1.5 1.7 1.7 2.0

42.2 43.2 50.8 56.5 63.0

19.1 19.4 20.6 22.8 23.9

23.1 23.8 30.2 33.8 39.2

10.5 10.6 11.6 12.4 14.0

12.6 13.2 18.6 21.3 25.2

1 012.0 1 033.6 1 120.7 1 186.7 1 270.3

1965 1966 1967 1968 1969

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

391.2 429.0 451.2 497.8 540.5

28.4 31.5 34.3 37.6 42.4

362.8 397.4 416.8 460.2 498.1

245.4 272.9 291.1 321.9 357.1

36.0 37.0 39.3 45.5 50.2

81.4 87.6 86.4 92.8 90.8

5.8 7.0 8.4 9.7 12.7

2.2 2.7 2.8 3.1 3.2

73.3 77.9 75.2 80.0 74.9

27.1 29.5 27.8 33.5 33.3

46.2 48.4 47.3 46.5 41.6

16.2 16.8 17.3 19.0 19.0

30.0 31.6 30.1 27.5 22.5

1 375.1 1 472.6 1 508.9 1 604.8 1 667.6

1970 1971 1972 1973 1974

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

558.3 603.0 669.5 750.8 809.8

46.8 50.7 56.4 62.7 74.1

511.5 552.4 613.2 688.1 735.7

376.5 399.4 443.9 502.2 552.2

54.2 59.5 63.7 70.1 74.4

80.7 93.4 105.6 115.8 109.1

16.6 17.6 18.6 21.8 27.5

3.3 3.7 4.0 4.7 4.1

60.9 72.1 83.0 89.4 77.5

27.3 30.0 33.8 40.4 42.8

33.6 42.1 49.2 49.0 34.7

18.3 18.1 19.7 20.8 21.5

15.3 24.0 29.5 28.2 13.1

1 649.9 1 716.6 1 846.4 1 957.7 1 925.4

1975 1976 1977 1978 1979

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

876.7 989.7 1 119.4 1 272.9 1 415.9

87.9 97.0 110.5 127.8 147.3

788.7 892.7 1 008.8 1 145.1 1 268.6

575.5 651.4 735.3 845.3 959.9

80.2 86.7 94.6 102.7 108.8

133.1 154.7 178.9 197.0 200.0

28.4 26.0 28.5 33.4 41.8

5.0 7.0 9.0 9.5 9.5

99.6 121.7 141.4 154.1 148.8

41.9 53.5 60.6 67.6 70.6

57.7 68.2 80.9 86.6 78.1

24.6 27.8 30.9 35.9 37.6

33.2 40.5 50.0 50.6 40.5

1 898.8 2 050.0 2 200.0 2 344.1 2 418.7

1980 1981 1982 1983 1984

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

1 537.1 1 746.0 1 806.2 1 933.0 2 167.5

168.2 191.5 211.2 217.6 230.7

1 368.9 1 554.5 1 594.9 1 715.4 1 936.8

1 049.8 1 161.5 1 203.9 1 266.9 1 406.1

121.5 146.7 152.9 168.0 185.0

197.6 246.4 238.1 280.5 345.7

54.2 67.2 77.4 77.0 86.0

10.2 11.4 8.8 10.5 11.7

133.2 167.7 151.9 192.9 248.0

68.2 66.0 48.8 61.7 75.9

65.0 101.7 103.1 131.2 172.0

44.7 52.5 54.1 63.2 67.2

20.4 49.2 49.0 68.0 104.8

2 394.6 2 491.5 2 430.6 2 545.1 2 772.8

1985 1986 1987 1988 1989

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

2 302.0 2 387.5 2 557.1 2 771.6 2 912.3

247.4 255.3 266.5 281.6 301.6

2 054.6 2 132.2 2 290.6 2 490.0 2 610.7

1 504.2 1 583.1 1 687.8 1 812.8 1 914.7

196.6 204.6 216.8 233.8 248.2

353.8 344.5 386.0 443.4 447.9

91.5 95.1 96.4 109.8 142.0

16.1 27.3 29.9 27.4 23.0

246.3 222.1 259.7 306.2 282.9

71.1 76.2 94.2 104.0 101.2

175.2 145.9 165.5 202.3 181.7

72.0 72.9 76.3 82.2 105.4

103.2 73.0 89.2 120.1 76.4

2 896.3 2 963.3 3 119.6 3 300.7 3 361.8

1990 1991 1992 1993 1994

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

3 041.5 3 099.7 3 236.0 3 397.8 3 669.5

319.2 341.4 353.6 363.4 391.5

2 722.3 2 758.3 2 882.3 3 034.4 3 278.0

2 012.9 2 048.4 2 154.1 2 244.8 2 381.5

263.5 285.7 302.5 318.8 349.6

445.8 424.2 425.7 470.8 546.9

146.2 135.9 111.3 102.0 101.0

25.4 26.7 25.2 29.6 30.0

274.3 261.5 289.2 339.2 415.9

98.5 88.6 94.4 108.0 132.9

175.8 172.9 194.8 231.2 283.1

118.3 125.5 134.1 149.1 157.9

57.5 47.4 60.7 82.1 125.2

3 404.0 3 376.2 3 479.5 3 575.5 3 797.9

1995 1996 1997 1998 1999

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

3 879.5 4 109.5 4 401.8 4 655.0 4 950.8

415.0 436.5 467.1 493.3 523.8

3 464.5 3 673.0 3 934.7 4 161.7 4 427.0

2 509.8 2 630.8 2 812.9 3 045.6 3 267.7

356.9 369.1 385.5 398.7 416.6

597.8 673.1 736.3 717.4 742.7

115.2 111.9 124.0 143.8 160.2

30.2 38.0 39.0 35.2 45.0

452.5 523.2 573.4 538.3 537.6

141.0 153.1 161.9 158.6 171.2

311.4 370.1 411.5 379.7 366.3

178.0 197.5 215.9 241.0 224.6

133.5 172.6 195.6 138.7 141.7

3 977.4 4 196.4 4 469.3 4 725.4 5 011.0

2000 2001 2002 2003 2004

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

5 272.2 5 293.5 5 371.7 5 595.7 5 995.4

567.8 646.8 643.6 652.6 690.3

4 704.3 4 646.7 4 728.2 4 943.1 5 305.1

3 544.4 3 595.9 3 611.9 3 703.2 3 906.8

443.4 439.1 465.5 486.5 519.1

716.5 611.8 650.8 753.4 879.2

191.7 204.0 167.4 166.2 164.9

48.4 50.6 54.0 62.4 60.4

476.4 357.2 429.4 524.9 653.9

170.2 111.7 97.0 126.5 165.9

306.2 245.5 332.3 398.3 487.9

251.3 245.4 254.8 295.5 361.2

54.8 0.1 77.5 102.8 126.7

5 272.2 5 224.5 5 270.2 5 412.5 5 700.9

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

5 284.6 5 358.3 5 395.6 5 448.4

643.3 643.4 643.4 644.2

4 641.3 4 715.0 4 752.1 4 804.2

3 576.7 3 616.8 3 626.4 3 627.4

454.3 462.8 470.2 474.8

610.2 635.3 655.5 702.0

186.1 168.5 160.1 155.0

53.6 53.2 53.8 55.2

370.6 413.5 441.5 491.8

78.2 91.9 102.0 116.0

292.3 321.6 339.5 375.8

245.0 257.8 245.5 270.9

47.3 63.7 94.0 105.0

5 195.4 5 266.4 5 296.6 5 322.3

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

5 456.5 5 541.8 5 650.0 5 734.4

646.1 649.6 654.3 660.2

4 810.4 4 892.2 4 995.7 5 074.2

3 636.8 3 682.2 3 726.1 3 767.8

478.3 474.9 493.1 499.8

695.2 735.2 776.5 806.6

161.3 166.1 168.4 168.9

59.1 61.6 63.7 65.0

474.8 507.5 544.4 572.8

119.3 116.7 128.1 141.9

355.4 390.7 416.3 430.9

267.1 320.9 291.5 302.5

88.3 69.9 124.8 128.4

5 298.7 5 369.6 5 460.3 5 521.3

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

5 822.0 5 922.8 6 038.0 6 198.9

667.4 675.7 722.0 696.2

5 154.7 5 247.1 5 316.1 5 502.8

3 806.3 3 850.5 3 928.5 4 042.0

509.8 516.2 520.6 529.9

838.5 880.4 866.9 930.9

169.1 166.2 162.1 162.1

66.7 67.6 37.9 69.5

602.7 646.6 666.9 699.3

145.9 165.2 171.8 180.8

456.8 481.4 495.1 518.5

329.2 323.6 327.3 465.0

127.7 157.8 167.8 53.5

5 568.1 5 613.9 5 742.0 5 879.5

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

NOTES AND DEFINITIONS TABLES 1-1 THROUGH 1-7, 1-9 THROUGH 1-13, AND 19-1 THROUGH 19-5 NATIONAL INCOME AND PRODUCT SOURCE: U.S. DEPARTMENT OF COMMERCE, BUREAU ECONOMIC ANALYSIS (BEA)

OF

All data on these pages are from the national income and product accounts (NIPAs). The data are as published in the 2003 comprehensive NIPA revisions and have been subsequently updated and revised as of August 2005. Definitions and notes on the data: Basic concepts of total output and income The NIPAs depict the U.S. economy in several different dimensions. The bedrock concept is “gross domestic product” (GDP), the market value of all goods and services produced by labor and property located in the United States. In principle, GDP can be measured by summing the values created by each industry in the economy. However, it can be more readily measured by summing up all the final demands for the economy’s output. This final demand approach also has the advantage of depicting the origins of demand for economic production, whether by consumers, businesses, or government. Since production for the market necessarily generates incomes equal to its value, there is also an income total corresponding to the production value total. This income can be measured depicting the distribution of value among labor, capital, and other income recipients. The structure and relationships of several of these major concepts are illustrated in Tables 1-9 and 1-10. The definitions of these concepts are as follows: Gross domestic product (GDP), the featured measure of the value of U.S. output, is the market value of the goods and services produced by labor and property located in the United States. Market values represent output valued at the prices paid by the final customer, and therefore include taxes on production and imports, such as customs duties and taxes on sales and property. GDP is “gross” product in the sense that capital consumption allowances (economic depreciation) have not been deducted. GDP is primarily measured by summing the values of personal consumption expenditures, gross private domestic investment (including change in private inventories and before deduction of charges for consumption of fixed capital), net exports of goods and services, and government consumption expenditures and gross investment. GDP so measured excludes duplication involving “inter-

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mediate” purchases of goods and services (which are goods and services purchased by industries and used in production), because their value is already included in the value of the final products. Production of any intermediate goods unused in production in the current period is captured in the measurement of inventory change. In concept, GDP is equal to the sum of the economic value added by (formerly referred to as “gross product originating in”) all industries in the United States. This, in turn, also makes it the conceptual equivalent of gross domestic income (GDI), a new concept introduced in the 2003 revision. GDI is the sum of the incomes earned in each domestic industry, plus the taxes on production and imports and less the subsidies that account for the difference between output value and factor input value. This derivation is shown in Table 1-10. Since the incomes and taxes can be measured directly, they can be summed to a total that is equivalent to GDP in concept, but differs due to imperfections in measurement. The difference between the two is known as the statistical discrepancy. It is expressed as GDP minus GDI. Gross national product (GNP) refers to all goods and services produced by labor and property supplied by U.S. residents, whether located in the United States or abroad, expressed at market prices. It is equal to gross domestic product (GDP), plus income receipts from the rest of the world, less income payments to the rest of the world. Domestic production and income refer to the location of the factors of production, with only factors located in the United States included; national production and income refer to the ownership of the factors of production, with only factors owned by United States residents included. Before the comprehensive NIPA revisions made in 1991, GNP was the commonly used measure of U.S. production. (The terminology survives in popular cultural references such as the name of a musical group and the “Gross National Parade.”) In the earlier postwar years, when international income flows were much smaller, the difference between GNP and GDP was inconsequential. However, GDP is clearly preferable when it is to be compared with indicators such as employment, hours worked, and capital utilized—for example, in the calculation of labor and capital productivity—because it is confined to production taking place within the borders of the United States. It is also the measure used by almost all other countries, thus facilitating international comparisons. The income-side aggregate corresponding to GNP is gross national income, shown as an addendum to Table 1-9. It consists of gross domestic income, plus income receipts from the rest of the world, less income payments to the rest of the world. It is used as the denominator for a national saving/income ratio, presented in Chapter 5. National income is the preferred measure for calculating and comparing saving, since it is the income aggregate from which that saving arises. As with GDP and gross

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domestic income, the statistical discrepancy indicates the difference between the product-side and income-side measurement of the same concept.

income side of the accounts; they add equal amounts to income and spending, so that no imputed saving is created.

Net national product is the market value, net of depreciation, of goods and services attributable to the labor and property supplied by U.S. residents. It is equal to GNP minus the consumption of fixed capital (CFC). The measure of fixed capital consumption used relates only to fixed capital located in the United States. Investment in that capital is measured by private fixed investment and government gross investment.

One important example is the imputed rent on owneroccupied housing. The building of such housing is counted as investment, yet in the monetary accounts of the household sector, there is no income from that investment nor rental paid for it. In the NIPAs, the rent that each such house would earn if rented is estimated and added to both national and personal income, as part of rental payments, and to personal consumption expenditures as part of expenditures on housing services.

National income has been redefined and now includes all net incomes (net of the consumption of fixed capital) earned in production. It now includes not only “factor incomes”—net incomes received by labor and capital as a result of their participation in the production process— but also “nonfactor charges”—taxes on production and imports, business transfer payments, and the current surplus of government enterprises, less subsidies. This change has been made to conform with the international guidelines for national accounts, System of National Accounts 1993. According to SNA 1993, these charges cannot be eliminated from the input and output prices.

Another important example is imputed interest. For example, an individual keeps a monetary balance in a bank or other financial institution. He or she receives either no interest or below-market interest, but receives the institution’s services, such as clearing checks and other accommodations to facilitate payments, with little or no charge. Where is the product generated by the institution’s workers and capital? In the NIPAs, the depositor is imputed a market-rate-based interest return on his or her balance, which is then paid to the institution as an imputed service charge and therefore included in the value of the institution’s output.

Since national income now includes the nonfactor charges, it is conceptually equivalent to net national product and differs only by the amount of the statistical discrepancy.

Definitions and notes on the data: Components of product

The concept formerly known as “national income” is still included in the accounts as an addendum item called “net national factor income.” It is shown in Table 1-11 and used as the denominator in Figure 1-4. Net national factor income consists of compensation of employees, proprietors’ income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, corporate profits with inventory valuation and capital consumption adjustments, and net interest. By definition, national income and its components exclude all income from capital gains, which have no counterpart on the production side of the accounts. This exclusion is partly accomplished by means of the inventory valuation and capital consumption adjustments, which will be described below in the definitions of the components of product and income. Definitions and notes on the data: Imputation The term imputation will appear from time to time in the definitions of product and income components below. Imputed values are values estimated by BEA statisticians for certain important product and income components that are not explicitly valued in the source data, usually because a market transaction in money terms is not involved. Imputed values appear on both the product and

Personal consumption expenditures (PCE) is goods and services purchased by persons residing in the United States. PCE consists mainly of purchases of new goods and services by individuals from businesses. It includes purchases that are financed by insurance—for example, by medical insurance. In addition, PCE includes purchases of new goods and services by nonprofit institutions, net purchases of used goods (“net” here meaning purchases of used goods from business less sales of used goods to business) by individuals and nonprofit institutions, and purchases abroad of goods and services by U.S. residents traveling or working in foreign countries. PCE also includes purchases for certain goods and services provided by government agencies. (See notes and definitions for Tables 4-1 through 4-5 for additional information.) New annual accounts separate household and nonprofit institution expenditures and incomes; these are presented in the article at the beginning of this volume. Gross private domestic investment consists of private fixed investment and change in private inventories. Private fixed investment consists of both nonresidential and residential fixed investment. The term “residential” refers to the construction and equipping of living quarters for permanent occupancy. Hotels and motels are included in nonresidential fixed investment, as will be seen below. Private fixed investment consists of purchases of fixed assets, which are commodities that will be used in a pro-

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duction process for more than one year, including replacements and additions to the capital stock. It is measured “gross,” before a deduction for consumption of existing fixed capital. It covers all investment by private businesses and nonprofit institutions in the United States, regardless of whether the investment is owned by U.S. residents. The residential component includes investment in owner-occupied housing; the homeowner is treated equivalently to a business in these investment accounts. (However, when GDP by sector is calculated, owneroccupied housing is no longer included in the business sector. It is allocated to the households and institutions sector.) Private fixed investment does not include purchases of the same types of equipment and structures by government agencies, which are included in government gross investment, nor does it include investment by U.S. residents in other countries. Nonresidential fixed investment is the total of nonresidential structures and nonresidential equipment and software. Nonresidential structures consists of new construction, brokers’ commissions on sales of structures, and net purchases of used structures by private business and by nonprofit institutions from government agencies (that is, purchases of used structures from government minus sales of used structures to government). New construction also includes hotels and motels, as well as mining exploration, shafts, and wells. Nonresidential equipment and software consists of private business purchases on capital account of new machinery, equipment, and vehicles; purchases and in-house production of software; dealers’ margins on sales of used equipment; and net purchases of used equipment from government agencies, persons, and the rest of the world (that is, purchases of such equipment minus sales of such equipment). It does not include the estimated personal-use portion of equipment purchased for both business and personal use. This is contained in PCE. Residential private fixed investment consists of both residential structures and residential producers’ durable equipment (equipment such as appliances owned by landlords and rented to tenants). Investment in structures consists of new units, improvements to existing units, purchases of manufactured homes, brokers’ commissions on the sale of residential property, and net purchases of used residential structures from government agencies—that is, purchases of such structures from government minus sales of such structures to government. As noted above, it includes investment in owner-occupied housing. Change in private inventories is the change in the physical volume of inventories held by businesses, valued at the average price of the period. It differs from the change in the book value of inventories reported by most businesses; an inventory valuation adjustment (IVA) converts book value change using historical cost valuations to the

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change in physical volume, valued at average replacement cost. Net exports of goods and services is exports of goods and services less imports of goods and services. It does not include income payments or receipts or transfer payments to and from the rest of the world. Government consumption expenditures is the estimated value of the services produced by governments (federal, state, and local) for current consumption. Since these are generally not sold, there is no market valuation, and they are priced at the cost of inputs. The input costs consist of the compensation of general government employees; the estimated consumption of general government fixed capital including software (CFC, or economic depreciation); and the cost of goods and services purchased by government, less the value of sales to other sectors. The value of investment in equipment and structures produced by government workers and capital is also subtracted, and included instead in government investment. Government sales to other sectors consist primarily of receipts of tuition payments for higher education and receipts of charges for medical care. This definition of government consumption expenditures differs in concept, but not in the amount contributed to GDP, from the treatment before the 2003 revision. In the new definition, goods and services purchased by government are considered to be intermediate output. In the previous definition, they were considered as final sales. Since their value is added to the other components to yield total government consumption expenditures, the dollar total contributed to GDP is the same. The only practical difference is that the goods purchased disappear from the goods account, appearing in the services account instead. In the industry sector accounts, the value added by government is also unchanged. It continues to be measured as the sum of compensation and CFC, or equivalently as gross government output less the value of goods and services purchased. The new definition increases conformity with SNA 1993. Gross government investment consists of general government and government enterprise expenditures for fixed assets (structures and equipment and software). Government inventory investment is included in government consumption expenditures. Definitions and notes on the data: Real values, quantity and price indexes Real, or chained (2000) dollar, estimates are estimates from which the effect of price change has been removed. Prior to the 1996 comprehensive revision, constant-dollar measures were obtained by combining real output measures for different goods and services using the relative prices of a single year as weights for the entire time span of the series. In the recent environment of rapid technological change, which has caused the prices of computers

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and electronic components to decline dramatically relative to other prices, this method distorted the measurement of economic growth and caused excessive revisions of growth rates at each benchmark revision. The current, chained-dollar measure changes the relative price weights each year, as relative prices shift over time. As a result, historical growth rates are not revised as a result of recent changes in relative prices. Chained-dollar estimates, although expressed as if they had occurred according to the prices of a single year (currently 2000) for continuity’s sake, are usually not additive; that is, because of the changes in price weights each year, the chained (2000) dollar components in any given table for any year other than 2000 usually do not add to the chained (2000) dollar total. The amount of the difference for the major components of GDP is called the residual and is shown in Table 1-2. In time periods close to the base year, the residual is usually quite small; over longer periods, the differences become much larger. For this reason, the BEA no longer publishes chaineddollar estimates prior to 1990, except for selected aggregate series. For the more detailed components, historical trends and fluctuations in real volumes are represented by chain-type quantity indexes, which are presented in Tables 1-4, 4-4, 5-4, 5-6, and 19-2. Chain-weighting leads to complexity in estimating the contribution of economic sectors to an overall change in output. For example, it creates difficulty in answering questions such as “How much is the rise in defense spending contributing to GDP growth?” The BEA is now calculating and publishing such estimates, and Business Statistics reproduces these calculations in Tables 1-3 and 19-3. To calculate contributions to growth for longer periods than those published by BEA, see Landefeld and Parker: “BEA’s Chain Indexes, Time Series, and Measures of Long-Term Economic Growth,” Survey of Current Business, May 1997, and “Preview of the Comprehensive Revision of the National Income and Product Accounts: BEA’s New Featured Measures of Output and Prices,” Survey of Current Business, July 1995. GDP price indexes measure price changes between any two adjacent years (or quarters) for a fixed “market basket” of goods and services—the average quantities in those two years (or quarters). The annual measures are chained together to form an index with prices in 2000 set to equal 100. Using average quantities as weights and changing weights each year eliminates the substitution bias that arises in more conventional indexes, where weights are taken from a single base period. Generally, this bias leads to an overstatement of price increase. (The CPI-U and the CPI-W are examples of such conventional indexes, technically known as “Laspeyres” indexes. See the notes and definitions for Chapter 8.) The use of the chain-type formula guarantees that a GDP price index change will differ only trivially from the

change in the implicit deflator (ratio of current-dollar to real value). Therefore, Business Statistics is no longer publishing a separate table of implicit deflators. Definitions and notes on the data: Aggregates of sales and purchases Final sales of domestic product is GDP minus change in private inventories. It is the sum of personal consumption expenditures, gross private domestic fixed investment, government consumption expenditures and gross investment, and net exports of goods and services. Gross domestic purchases is the market value of goods and services purchased by U.S. residents, regardless of where those goods and services were produced. It is GDP minus net exports (that is, minus exports plus imports) of goods and services; equivalently, it is the sum of personal consumption expenditures, gross private domestic investment, and government consumption expenditures and gross investment. The price index for gross domestic purchases is therefore a measure of price change for goods and services purchased by (rather than produced by) U.S. residents. Final sales to domestic purchasers is gross domestic purchases minus change in private inventories. Definitions and notes on the data: Per capita product and income estimates In Table 1-7, annual and quarterly measures of product, income, and consumption spending are expressed in per capita terms—the aggregate dollar amount divided by the U.S. population. Population data from 1991 forward reflect the results of Census 2000. National per capita totals, as shown in Table 1-7, are based on definitions of income and population that differ slightly from the sum of the states shown in Table 21-2. See the notes and definitions to Chapter 21 for explanation. Definitions and notes on the data: Components of income There are now two different presentations of aggregate income for the United States: gross domestic income (Table 1-10) and national income (Table 1-11). As noted above, “domestic income” refers to income generated from production within the United States, while “national income” refers to income received by residents of the United States. This means that some of the income components differ between the two tables. Domestic income payments include payments to the rest of the world from domestic industries. National income payments exclude payments to the rest of the world but include payments received by U.S. residents from the rest of the world. These differences are seen in employee compensation, interest, and corporate profits. Taxes on production, imports, and corporate profits, business transfer pay-

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ments, subsidies, proprietors’ income, rental income, and the current surplus of government enterprises are the same in both accounts. A third income aggregate is the well-known personal income account, whose derivation from national income is shown in Table 1-9. This will be discussed and defined in more detail in Chapter 4. Compensation of employees is the income accruing to employees as remuneration for their work. It is the sum of wage and salary accruals and supplements to wages and salaries. In the domestic income account, it is called “compensation of employees, paid.” It refers to all payments generated by domestic production, including those to workers residing in the “rest of the world.” In the national and personal income accounts, it is a different amount labeled “compensation of employees, received” (that is, received by U.S. residents) including from the rest of the world. Wage and salary accruals consists of the monetary remuneration of employees, including the compensation of corporate officers; corporate directors’ fees paid to directors who are also employees of the corporation; commissions, tips, and bonuses; voluntary employee contributions to certain deferred compensation plans, such as 401(k) plans; and receipts in kind that represent income. As of the 2003 revision, it also includes judicial fees to jurors and witnesses, compensation of prison inmates, and marriage fees to justices of the peace, all of which were formerly included in “other labor income.” In concept, wage and salary accruals include the value of the exercise by employees of “nonqualified stock options,” in which an employee is allowed to buy stock for less than its current market price. (Actual measurement of these values involves a number of problems, particularly in the short run. Such stock options are not included in the Bureau of Labor Statistics wage data, which are the main source for current extrapolations of wages and salaries, and are not consistently reported in corporate financial statements. They are, however, generally included in the unemployment insurance wage data that are used to correct the preliminary wage and salary estimates.) Another form of stock option, the “incentive stock option,” leads to a capital gain only and is not included in the definition of wages and salaries. Wage and salary accruals include retroactive wage payments for the period in which they were earned, not for the period in which they were paid. In the NIPAs, wages accrued is the appropriate measure for both domestic and national income. Wages disbursed is the appropriate measure for personal income, since the latter concept focuses on what individuals receive. The difference, wage accruals less disbursements, is shown in Table 1-7. In practice, it is usually estimated as zero and only appears in the case of a large and unusual payment.

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Supplements to wages and salaries consists of employer contributions for employee pension and insurance funds and employer contributions for government social insurance. Employer contributions for employee pension and insurance funds consists of employer payments (including payments in kind) to private pension and profit-sharing plans, private group health and life insurance plans, privately administered workers’ compensation plans, government employee retirement plans, and supplemental unemployment benefit plans. This includes the major part of the former category “other labor income.” The remainder of “other labor income” has been reclassified as wages and salaries, as noted above. Employer contributions for government social insurance consists of employer payments under the following federal, state, and local government programs: old-age, survivors, and disability insurance (Social Security); hospital insurance (Medicare); unemployment insurance; railroad retirement; pension benefit guaranty; veterans’ life insurance; publicly administered workers’ compensation; military medical insurance; and temporary disability insurance. Taxes on production and imports is included in the gross domestic income account to make it comparable in concept to gross domestic product. It consists of federal excise taxes and customs duties and of state and local sales taxes, property taxes (including residential real estate taxes), motor vehicle license taxes, severance taxes, special assessments, and other taxes. It is equal to the former “indirect business taxes and nontax liabilities” less most of the nontax liabilities, which have now been reclassified as “business transfer payments.” Subsidies (payments by government to business other than purchases of goods and services) are now presented separately from the current surplus of government enterprises, which is presented as a component of net operating surplus. However, for the years prior to 1959, subsidies will continue to be presented as net of the current surplus of government enterprises, since detailed data to separate the series for this period are not available. Net operating surplus is a new aggregate introduced in the 2003 revision—a grouping of the business income components of the gross domestic income account. It is a profits-like measure that shows business income after subtracting the costs of compensation of employees, taxes on production and imports (less subsidies), and consumption of fixed capital (CFC) from gross product, but before subtracting financing costs (such as net interest) and business transfer payments. Net operating surplus consists of the net operating surplus of private enterprises and the current surplus of government enterprises. Net interest and miscellaneous payments, domestic industries consists of interest paid by domestic private enter-

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prises and of rents and royalties paid by private enterprises to government, less interest received by domestic private enterprises. Interest received does not include that received by noninsured pension plans, which are recorded as being directly received by persons in personal income. Both interest categories include monetary and imputed interest. In the national account, interest paid to the rest of the world is subtracted, and interest received from the rest of the world is added. Interest payments on mortgage and home improvement loans and on home equity loans are included as net interest in the private enterprises account. It should be noted that net interest does not include interest paid by federal, state, or local governments. In fact, government interest does not enter into national and domestic income accounts, though it does appear as a component of personal income. The NIPAs draw a distinction between interest paid by government and that paid by business. The reasoning is that interest paid by business is one of the income counterparts of the production side of the account. The value of business production (as measured by its output of goods and services) includes the value added by business capital, and interest paid by business to its lenders is part of the total return to business capital. However, there is no product flow in the accounts that is a counterpart to the payment of interest by government. The output of government does not have a market value. For purposes of GDP measurement, BEA estimates its contribution to GDP as the sum of compensation of employees, purchases of goods and services, and consumption of government fixed capital (see above, and also the notes and definitions to Chapter 6). This implies a conservative estimate that the net return to government capital is zero, and this assumption generates no income corresponding to the interest payment. To justify this distinction, it may be pointed out that most federal government debt was not incurred to finance investment, but rather to finance wars, to avoid tax increases and spending cuts during recessions, or to stimulate the economy. Business current transfer payments, net consists of payments to persons, to government, and to the rest of the world by private business for which no current services are performed. Net insurance settlements—actual insured losses (or claims payable) less a normal level of losses—are treated as transfer payments. Payments to government consist of federal deposit insurance premiums, fines, regulatory and inspection fees, tobacco settlements, and other miscellaneous payments previously classified as “nontaxes.” Taxes paid by domestic corporations to foreign governments, formerly classified in transfer payments, are now counted as taxes on corporate income.

In the NIPAs, capital income other than interest—corporate profits, proprietors’ income, and rental income—is converted from the basis usually shown in the books of business and reported to the Internal Revenue Service into a basis that more closely represents income from current production. Within the source data, depreciation of structures and equipment will probably reflect a historical cost basis and a possibly arbitrary service life allowed by law to be used for tax purposes. BEA adjusts these values to reflect the average actual life of the capital good and the cost of replacing it in the current period’s prices. This conversion is done for all three forms of capital income. In addition, corporate and proprietors’ incomes also require an adjustment for inventory valuation to exclude any profits or losses that might appear in the books, should the cost of inventory acquisition not be valued in the current period’s prices. These two adjustments are called the capital consumption adjustment (CCAdj) and the inventory valuation adjustment (IVA). They will be described in more detail below. Proprietors’ income with inventory valuation and capital consumption adjustments is the current-production income (including income in kind) of sole proprietorships and partnerships and of tax-exempt cooperatives. The imputed net rental income of owner-occupants of farm dwellings is included, but the imputed net rental income of owner-occupants of nonfarm dwellings is included in rental income of persons. Fees paid to outside directors of corporations are included. Proprietors’ income excludes dividends and monetary interest received by nonfinancial business and rental incomes received by persons not primarily engaged in the real estate business; these incomes are included in dividends, net interest, and rental income of persons. Rental income of persons with capital consumption adjustment is the net current-production income of persons from the rental of real property (except for the income of persons primarily engaged in the real estate business); the imputed net rental income of owner-occupants of nonfarm dwellings; and the royalties received by persons from patents, copyrights, and rights to natural resources. Consistent with classifying investment in owner-occupied housing as business investment, the homeowner is considered to be paying himself or herself the rental value of the house (classified as PCE for services) and retaining as net income the amount of that rental remaining after paying interest and other costs. Corporate profits with inventory valuation and capital consumption adjustments (often referred to as “economic profits”) is the current-production income, net of economic depreciation, of organizations treated as corporations in the NIPAs. These organizations consist of all entities required to file federal corporate tax returns, including mutual financial institutions and cooperatives subject to federal income tax; private noninsured pension funds; nonprofit institutions that primarily serve business;

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Federal Reserve Banks, which accrue the income stemming from the conduct of monetary policy; and federally sponsored credit agencies. With several differences, this income is measured as receipts less expenses as defined in federal tax law. Among these differences: receipts exclude capital gains and dividends received, expenses exclude depletion and capital losses and losses resulting from bad debts, inventory withdrawals are valued at replacement cost, and depreciation is on a consistent accounting basis and is valued at replacement cost. Since national income is defined as the income of U.S. residents, its profits component includes income earned abroad by U.S. corporations and excludes income earned by the rest of the world within the United States. Taxes on corporate income consists of taxes on corporate income paid to government and to the rest of the world. Taxes on corporate income paid to government (formerly “profits tax liability”) is the sum of federal, state, and local income taxes on all income subject to taxes. This income includes capital gains and other income excluded from profits before tax. These taxes are measured on an accrual basis, net of applicable tax credits. Taxes on corporate income paid to the rest of the world consists of nonresident taxes, which are paid by domestic corporations to foreign governments. These taxes were formerly classified as business transfer payments to the rest of the world. Profits after tax is total corporate profits with IVA and CCAdj less taxes on corporate income. It consists of dividends and undistributed corporate profits. Dividends is payments in cash or other assets, excluding the corporations’ own stock, that are made by corporations to stockholders. In the domestic account, these are payments by domestic industries to stockholders in the United States and abroad; in the national account, these are all dividends received by U.S. residents. The payments are measured net of dividends received by U.S. corporations. Dividends paid to state and local government social insurance funds and general government are included. Undistributed profits is corporate profits after tax with IVA and CCAdj less dividends. Inventory valuation adjustment (IVA) for corporations is the difference between the cost of inventory withdrawals as valued in the source data used to determine profits before tax and the cost of withdrawals valued at replacement cost. In the NIPAs, inventory profits or losses are shown as adjustments to business income (corporate profits and nonfarm proprietors’ income). These are shown as the IVA with the sign reversed. No adjustment is needed for farm proprietors’ income, as farm inventories are measured on a current-market-cost basis.

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Consumption of fixed capital is a charge for the using-up of private and government fixed capital located in the United States. It is not based on the depreciation schedules allowed in tax law, but instead on studies of prices of used equipment and structures in resale markets. For general government and for nonprofit institutions that primarily serve individuals, it is recorded in government consumption expenditures and in personal consumption expenditures, respectively. It is also considered to be the value of the current services of the fixed capital assets owned and used by these entities. Private capital consumption allowances consists of taxreturn-based depreciation charges for corporations and nonfarm proprietorships and of historical-cost depreciation (calculated by BEA using a geometric pattern of price declines) for farm proprietorships, rental income of persons, and nonprofit institutions. The private capital consumption adjustment (CCAdj) is the difference between private capital consumption allowances and private consumption of fixed capital. It therefore reflects the net effect of the two adjustments made to reported nonfarm business profits that convert historical to replacement costs and incorporate actual, rather than tax-based, service lives. Definitions and notes on the data: Gross value added of Domestic Corporate Business Gross value added is the term now used for what was formerly called “gross domestic product originating.” It represents that share of the GDP produced in the specified sector or industry. Tables 1-12 and 1-13 show the currentdollar value of gross value added for all domestic corporate business and its financial and nonfinancial components. For the total and for nonfinancial corporations, consumption of fixed capital and net value added are shown, as is the allocation of net value added among employee compensation, taxes and transfer payments, and capital income. Constant-dollar values are also shown for nonfinancial corporations. These data for nonfinancial corporations are often considered to be somewhat sturdier than data for the other sectors of the economy, since they exclude sectors whose outputs are difficult to evaluate—households, institutions, general government, and financial business—as well as excluding all noncorporate business. Revisions NIPA data normally undergo revision at the end of every July. Typically these annual revisions cover annual and quarterly data for the previous three years. They may also include more limited revisions to data for earlier years. Approximately once every five years, the NIPA data undergo “benchmark” revision. At these times, definitional or other comprehensive changes may affect data back to 1929—the earliest year for which official national

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

accounts data are available. The latest comprehensive revision of the NIPAs was released in 2003. In mid-2002, BEA inaugurated a new revision schedule for wages and salaries and related income-side components of the NIPAs. When “final” estimates of GDP are released each quarter (in June, September, December, and March following the end of that quarter), wages and salaries and related data will be revised for not only the “GDP” quarter but the previous quarter as well. Since these only affect income-side components, GDP itself will not be revised for that previous quarter (and the statistical discrepancy will change). The purpose of this schedule change is to achieve a more timely incorporation of BLS quarterly tabulations of employees covered by state unemployment insurance. Previously, revisions based on these data were not incorporated until July of the following year. The same revision schedule will also be used in the monthly estimates of personal income. Data availability Annual data are available beginning with 1929. Quarterly data begin with 1946 for current-dollar values and 1947 for quantity and price measures such as real GDP and the GDP price index. Not all data are available for all time periods. New data normally are released toward the end of each month. The first estimates for each calendar quarter are released in the month after the quarter’s end. Revisions for the most recent quarter are released in the second and third months after the quarter’s end. As described above, wage and salary and related income-side components may be revised for previous quarters as well. The most recent data are published each month in the Survey of Current Business. Current and historical data may be obtained from the BEA Web site at and the STAT-USA subscription Web site at . References Articles describing and presenting the NIPAs are found in the Survey of Current Business, available by mail subscription and on the BEA Web site. The latest revision is described in Eugene P. Seskin, Shelly Smith, and Teresa L. Weadock, “Annual Revision of the National Income and Product Accounts: Annual Estimates for 2002–2004, Quarterly Estimates for 2002:I–2005:I,” August 2005, Vol. 85, number 8. Last year’s annual revision is described in Eugene P. Seskin and Shelly Smith, “Annual Revision of the National Income and Product Accounts: Annual Estimates, 2001–2003, Quarterly Estimates 2001:I–2004:I,” August 2004, vol. 84 number 8. The comprehensive 2003 revision is presented and described in several articles in the Survey: “Improved Estimates of the National Income and Product Accounts for 1929–2002: Results of the Comprehensive Revision,”

February 2004; “Preview of the 2003 Comprehensive Revision of the National Income and Product Accounts: Statistical Changes,” September 2003; “Preview of the 2003 Comprehensive Revision of the National Income and Product Accounts: New and Redesigned Tables,” August 2003; “Preview of the 2003 Comprehensive Revision of the National Income and Product Accounts: Changes in Definitions and Classifications,” June 2003; “Income and Outlays of Households and of Nonprofit Institutions Serving Households,” April 2003; “Preview of Revised NIPA Estimates for 1997: Effects of Incorporating the 1997 Benchmark I-O Accounts and Proposed Definitional and Statistical Changes,” January 2003; “Note on the Upcoming Comprehensive Revision of the National Income and Product Accounts,” November 2002; and “Selected Issues in the Measurement of U.S. International Services,” June 2002. The previous comprehensive revision was presented in “Improved Estimates of the National Income and Product Accounts for 1929–99: Results of the Comprehensive Revision,” April 2000. General reference articles on NIPA concepts and methods in the Survey of Current Business are “Updated Summary NIPA Methodologies” (October 2002) and “A Guide to the NIPAs” (March 1998). The treatment of employee stock options is discussed in Carol Moylan, “Treatment of Employee Stock Options in the U.S. National Economic Accounts,” available on the BEA Web site. TABLES 1-8 AND 20-7 COMPOSITE INDEXES OF ECONOMIC ACTIVITY SOURCE: THE CONFERENCE BOARD The composite indexes of leading, coincident, and lagging indicators are intended to help predict and identify peaks and troughs in the business cycle. They are calculated from sets of component series selected for their utility as indicators of stages of the business cycle. The component series originate from a variety of sources, as indicated below. A few component series that are not published elsewhere in this volume appear on the page with the composites. For other components, references to related tables in Business Statistics are given below. The classification of indicators into leading, coincident, and lagging series grows out of an approach to the study of economic fluctuations that was pioneered by Wesley C. Mitchell and Arthur F. Burns early in the twentieth century and carried on by other researchers affiliated with the National Bureau of Economic Research (NBER). It was observed that indicators of business activity tended to move up and down over periods that were longer than a year and were therefore not accounted for by seasonal variation. Although these periods of expansion and contraction were not uniform in length,

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

their recurrent nature has caused them to be called “business cycles.” Furthermore, researchers have discovered that some indicators of the general state of business activity, such as different measures of production and income, tend to move together. Their peaks occur within a few months of each other and their low points, or troughs, also tend to occur close together. These are the coincident indicators. Other indicators also move cyclically, but their peaks and troughs come noticeably before the peaks and troughs in the coincident indicators. These are the leading indicators, which of course are of great interest to anyone with a stake in the future performance of the economy. Finally, still other indicators have peaks and troughs noticeably later than those in the coincident indicators; these are the lagging indicators. Lagging indicators can be valuable in observing whether cyclical imbalances have been corrected and preconditions exist for a new cycle phase. The ratio of coincident to lagging indicators is therefore of some interest as a leading indicator in its own right, although one that is even less regular than the leading index itself. The dates of business cycles are currently established by the Business Cycle Dating Committee of the NBER. This committee was formed in 1978. (The first NBER-established business cycle dates were published in 1929.) Business cycle dates are based on monthly data, and the identification of a recession does not always follow the common definition of recession (two consecutive quarters of decline in real GDP). In all, the NBER has identified 31 cycles since December 1854. The monthly and quarterly dates of the cycles from before the Great Depression to the latest announced turning point—the trough, or end of the recession, in November 2001—are shown in the accompanying table. Quarterly turning points are identified by Roman numerals. NBER considers that the trough month is both the end of the decline and the beginning of the recovery, based on the concept that the actual turning point was some particular day within that month. Thus, the latest recession ended in November 2001, and the recovery also began in November 2001. Similarly, the peak month of March 2001 was both the last month of expansion and the first month of recession.

31

BUSINESS CYCLE REFERENCE DATES 1927–2001 TROUGH November 1927 (IV) March 1933 (I) June 1938 (II) October 1945 (IV) October 1949 (IV) May 1954 (II) April 1958 (II) February 1961 (I) November 1970 (IV) March 1975 (I) July 1980 (III) November 1982 (IV) March 1991 (I) November 2001 (IV)

PEAK August 1929 (III) May 1937 (II) February 1945 (I) November 1948 (IV) July 1953 (II) August 1957 (III) April 1960 (II) December 1969 (IV) November 1973 (IV) January 1980 (I) July 1981 (III) July 1990 (III) March 2001 (I)

For additional information on NBER and its business cycle studies, see the NBER Web site at . The composite indexes were originally compiled and published by BEA. In 1995, responsibility for compilation and publication was transferred to The Conference Board, a not-for-profit business research organization. It is frequently said that the leading indicator index is designed to predict turning points in business activity six months in advance. This needs to be taken with a grain of salt. The current version of the leading index leads the 7 business cycle peaks that have occurred since the first month of the index by an average of 11 months; the shortest lead was 8 months and the longest, 18 months. It also predicted one recession that did not occur, in 1966–1967. The current leading index leads the 7 business cycle troughs by an average of 6 months, with a range from 2 to 11 months. It also predicted one recovery that failed to materialize. This experience suggests that users need to be careful about relying on any mechanical interpretation of the leading index.

32

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Index components The index of leading economic indicators consists of the following 10 components, with monthly data seasonally adjusted except as noted: Average weekly hours are average hours worked per week by production workers in manufacturing. Source: Bureau of Labor Statistics. (Table 10-7) Initial claims, unemployment insurance are average weekly claims for unemployment insurance under state programs. For inclusion in the leading index, the signs of the month-to-month changes are reversed, as claims increase when employment conditions worsen. Source: U.S. Department of Labor, Employment and Training Administration. (Table 10-4) Manufacturers’ new orders, consumer goods and materials are new orders (net of order cancellations), in constant dollars. Source: Bureau of the Census, with inflation adjustment by The Conference Board. (See Table 17-6 for current-dollar data.) Vendor performance, slower deliveries diffusion index tracks the relative speed with which goods-producing companies receive deliveries from their suppliers. An increase in this series indicates a slowdown in deliveries and is generally caused by increased demand for manufacturing materials. The survey asks purchasing managers if their suppliers’ deliveries were obtained faster, slower, or at the same rate as the previous month’s deliveries. The index records the percentage reporting slower deliveries plus one-half of the percentage reporting no change in delivery speed. Source: National Association of Purchasing Management. Manufacturers’ new orders, nondefense capital goods are in constant dollars. Source: Bureau of the Census, with inflation adjustment by The Conference Board. (See Table 17-6 for new orders for nondefense capital goods in current dollars.) Building permits, new private housing units is the number of new private housing units authorized by local building permits. Source: Bureau of the Census. (Table 17-3)

interest rate series are not seasonally adjusted. Source: Federal Reserve Board of Governors. (Table 12-9) Index of consumer expectations is based on the first quarter of 1966 = 100. The monthly data are not seasonally adjusted. Source: University of Michigan, Survey Research Center. This is a copyrighted series; it may not be reproduced without written permission from the source. The index of coincident economic indicators consists of the following four components, with monthly data seasonally adjusted: Employees on nonagricultural payrolls are total wage and salary employees, in thousands. Source: Bureau of Labor Statistics. (Table 10-5) Personal income less transfer payments is in billions of chained 2000 dollars (seasonally adjusted annual rate). Source: Bureau of Economic Analysis, with inflation adjustment by The Conference Board, using the implicit deflator for personal consumption expenditures (PCE). (See Table 4-1 for total personal income and transfer payments in current dollars, and Table 1-5 for the price index for PCE, which is usually the same as the implicit deflator.) Index of industrial production is an index of the output of the mining, manufacturing, and utility sectors of the U.S. economy. The index is based on 1997 = 100. Source: Federal Reserve Board of Governors. (Table 2-1) Manufacturing and trade sales are in millions of chained 2000 dollars. Source: Bureau of Economic Analysis. (Table 5-9) The index of lagging economic indicators consists of the following seven components, with monthly data seasonally adjusted except as noted. Average duration of unemployment is in weeks. As with initial claims, the signs of the month-to-month changes are reversed. Source: Bureau of Labor Statistics. (Table 10-2)

Stock prices: 500 common stocks is an index based on 1941–1943 = 10. Source: Standard and Poor’s Corporation. (Table 12-10)

Ratio: manufacturing and trade inventories to sales is calculated from sales and inventories in chained 2000 dollars. Source: Bureau of Economic Analysis. (Table 5-9)

Money supply (M2) is in billions of chained 2000 dollars. Source: Federal Reserve Board of Governors, with inflation adjustment by The Conference Board. (See Table 12-1 for the M2 money supply in current dollars.)

Manufacturing labor cost per unit of output is the percent change over a 6-month span in a monthly index constructed by The Conference Board. (For the Bureau of Labor Statistics quarterly index of manufacturing unit labor cost, see Table 9-3.)

Interest rate spread is equal to the rate on 10-year treasury bonds less the rate on federal funds. The

Average prime interest rate is an average percentage rate per annum used by banks to price short-term

CHAPTER 1: NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS

business loans; not seasonally adjusted. Source: Federal Reserve Board of Governors. (Table 12-9) Commercial and industrial loans outstanding is in billions of chained 2000 dollars. Sources: Federal Reserve Board of Governors, with inflation adjustment by The Conference Board. (See Table 12-4 for current-dollar data.) Consumer credit outstanding is expressed as a percent of personal income. Sources: Bureau of Economic Analysis (Table 4-1) and Federal Reserve Board of Governors. (Table 12-8) Consumer price index for services is the percent change over the last six months, expressed at an annual rate, of the services component of the Consumer Price Index. Source: Bureau of Labor Statistics. (Table 8-1) Notes on the data Each composite index is scaled so that its average monthly value equals 100 in a base year, which is currently 1996. Changes in the components are calculated and standardized, using the standard deviation of each component, to equalize the volatility of each component in an index. Indicators that are not available at publication time are estimated using statistical imputation (an autoregressive model). In subsequent months, the imputations are replaced by the actual reported data. This imputation procedure allows an earlier release each month of preliminary values for the composite indexes. Two major revisions in the calculation of the composite indexes were introduced with the preliminary index for June 2005 (along with some minor technical modifications). Trend adjustments were introduced—or re-introduced, since they had been a feature of some earlier versions of the composites. The entire history of the leading and lag-

33

ging indexes was revised to give each the same time trend as the coincident composite. The trend adjustment is accomplished by adding an adjustment factor to the monthly growth rate of the index, and the same adjustment factor is used in each month’s estimation of the current index. The adjustment factors will be updated once a year during the regular annual benchmark revisions, which are usually made in January. The way that the yield spread is incorporated in the index was also changed. The contribution of the yield spread to the change in the leading index is now calculated from the value of the spread itself in the given month rather than as the change in the spread from the previous month. The new measure will contribute negatively only when the yield spread inverts (the long rate is less than the short rate). The latest annual revision was made in January 2005. The most recent comprehensive revisions, which included the addition and deletion of components, were introduced in 1996. Data availability Data are published each month by The Conference Board. Their monthly report, Business Cycle Indicators, is available by subscription from The Conference Board, 845 Third Avenue, New York, NY 10022. A monthly press release from The Conference Board, with information about the indexes and their components, is available at . The full historical database (with monthly data back to 1959) is available by subscription from the same Web site. References In addition to The Conference Board’s Business Cycle Indicators (referenced above), see the Survey of Current Business: “Business Cycle Indicators: Upcoming Revision of the Composite Indexes” (October 1993).

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

Figure 2-1. Capacity Utilization: Total Manufacturing and High-Tech (output as a percentage of capacity) 100

Percent

90

80

70

Total manufacturing (SIC)

60

Selected high-tech industries 50 1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• Manufacturing capacity utilization is a key statistic for the U.S. economy, despite being limited to a sector that by some measures is diminishing in importance. (The Federal Reserve also provides measures of capacity utilization for “total industry”—manufacturing, mining, and utilities. However, mining and utilities are less significant in the context of business cycle analysis, and much of the variation in capacity use by utilities is a result of transitory weather variations, not economic factors.) Manufacturing utilization is an important indicator of inflationary pressure and an element in the demand for new capital goods. (Table 2-3) • The most recent cyclical highs in manufacturing utilization, in 1995 and 1997, fell short of peaks reached in some earlier years. This reduced rate of pressure on capacity may have contributed to the low inflation rates of the late 1990s, which were surprising to analysts who looked only at the low and falling labor force unemployment rates for that period. (Figure 2-1; Tables 2-3, 20-1, 10-4, and 10-5) • Beginning with measures for 1967, the Federal Reserve provides measures of production and utilization for NAICS industries, making possible a clearer separation of hightech and other industries. Capacity utilization in the high-tech industries (computers and office equipment, communications equipment, and semiconductors and related electronic components) was more volatile than in the rest of industry, as seen in Figure 2-1. High-tech cycles were also not precisely synchronized with the overall cycle. At the height of the dot-com boom in 2000, high-tech utilization soared to 89.5 percent, although it was declining elsewhere. In 2002, high-tech industries used only 58.2 percent of capacity; but their recovery started in 2003, ahead of the rest of manufacturing. (Table 2-3) • Industrial production increased 167 percent from 1967 to 2004, which translates into an annual average growth rate of 2.7 percent. The high-tech industries grew at an annual rate of 18.1 percent, while the rest of manufacturing, mining, and utilities grew at a rate of 1.8 percent. Of the major market groups, consumer goods production grew at a 2.3 percent rate from 1967 to 2004; business equipment, 4.4 percent; defense and space equipment, 0.6 percent; construction supplies, 2.0 percent; energy materials, 1.5 percent; and non-energy materials, 3.0 percent. (Tables 2-1 and 2-2)

35

36

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 2-1. Industrial Production Indexes by Market Groups (Seasonally adjusted, 2002 = 100.) Final products and nonindustrial supplies Consumer goods Year and month

Total industrial production

Durable consumer goods

Nondurable consumer goods

Total Total

Automotive products

Total

Home electronics

Appliances, furniture, and carpeting

Miscellaneous durable goods

Total

1967 ......................... 1968 ......................... 1969 .........................

39.2 41.4 43.3

39.2 41.1 42.6

44.9 47.6 49.4

30.7 34.2 35.6

29.7 35.4 35.6

1.1 1.2 1.3

43.2 46.3 48.9

47.4 50.5 54.6

52.0 54.1 55.9

1970 1971 1972 1973 1974

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

41.9 42.5 46.6 50.4 50.2

41.3 41.9 45.8 49.2 49.0

48.8 51.6 55.8 58.3 56.6

32.9 37.2 41.7 44.8 40.8

29.9 38.1 41.1 44.7 38.6

1.1 1.3 1.4 1.7 1.5

48.4 51.1 60.0 64.8 58.9

52.7 55.6 62.4 65.2 62.9

56.9 58.5 62.2 64.2 64.2

1975 1976 1977 1978 1979

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

45.7 49.3 53.1 56.0 57.7

45.5 48.7 52.7 55.8 57.7

54.4 58.8 62.5 64.5 63.5

37.0 41.8 47.0 48.1 46.4

37.1 42.3 47.9 47.6 42.9

1.3 1.6 1.9 2.1 2.1

50.4 57.0 64.0 67.4 67.6

55.9 62.2 68.9 71.2 71.7

63.1 67.0 69.5 71.9 71.5

1980 1981 1982 1983 1984

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

56.2 56.9 54.0 55.4 60.4

56.8 58.0 56.5 57.9 62.9

61.1 61.5 61.3 63.6 66.5

40.3 40.9 38.5 42.8 47.9

33.0 34.1 33.1 38.4 43.0

2.1 2.2 2.0 2.8 3.4

62.9 62.1 56.1 62.0 69.0

65.7 66.6 63.0 64.8 71.6

71.6 71.9 73.1 74.0 75.5

1985 1986 1987 1988 1989

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

61.2 61.8 64.9 68.2 68.8

64.5 65.8 68.9 72.1 72.8

67.1 69.5 72.3 75.1 75.4

47.9 51.0 53.9 56.8 58.1

43.0 46.2 49.2 51.9 53.9

3.6 4.7 4.6 6.0 6.3

68.5 71.9 75.8 76.9 77.7

71.7 74.0 78.6 82.1 82.6

76.4 78.2 81.0 83.7 83.4

1990 1991 1992 1993 1994

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

69.4 68.3 70.3 72.6 76.5

73.6 72.4 74.2 76.7 80.1

75.8 75.7 77.9 80.6 84.4

56.4 53.9 59.2 64.8 71.7

50.5 47.2 55.2 61.0 68.3

7.2 8.6 9.4 14.7 21.9

75.8 70.5 74.6 78.8 84.5

81.8 79.0 81.5 85.0 89.8

84.8 86.0 86.7 87.9 90.1

1995 1996 1997 1998 1999

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

80.2 83.6 89.7 94.9 99.3

83.2 86.4 91.9 97.2 100.1

86.9 88.7 91.9 95.1 97.1

75.0 78.0 83.3 88.9 95.5

70.4 72.6 78.0 83.2 91.2

32.5 40.5 55.0 69.3 90.3

84.0 85.0 88.7 94.6 97.8

92.4 95.5 97.8 101.0 103.4

92.2 93.4 95.6 97.7 97.7

2000 2001 2002 2003 2004

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

103.5 99.9 100.0 100.6 104.7

103.4 100.5 100.0 100.8 104.8

99.0 97.8 100.0 101.0 103.1

98.3 94.1 100.0 104.0 106.9

93.4 90.5 100.0 107.1 109.3

98.7 98.8 100.0 112.1 113.6

100.5 96.2 100.0 99.6 103.9

106.3 98.8 100.0 99.4 103.2

99.2 99.3 100.0 99.8 101.6

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

98.6 98.4 99.3 99.7 100.1 101.0

99.2 98.8 99.7 99.6 99.9 100.9

99.1 98.4 99.5 99.5 99.7 101.0

96.6 96.8 97.7 98.9 99.5 100.9

94.4 94.0 95.1 98.0 98.7 101.1

114.8 110.7 103.7 95.1 94.8 95.3

98.0 100.0 101.6 101.4 102.2 101.5

97.1 98.1 99.4 99.6 100.2 101.1

100.1 99.0 100.2 99.7 99.8 101.1

July ....................... August .................. September ........... October ................ November ............ December ............

100.7 100.7 100.7 100.3 100.5 100.1

100.4 100.4 100.5 100.2 100.5 99.9

100.6 100.4 100.6 100.2 101.0 100.1

101.4 101.4 101.7 100.4 103.0 101.7

102.8 103.4 103.3 101.3 105.6 102.4

97.0 97.3 99.1 92.2 98.6 101.4

100.2 98.1 98.4 98.6 99.0 101.0

100.3 100.1 101.1 101.0 101.2 100.9

100.3 100.0 100.2 100.1 100.1 99.4

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

100.5 100.6 100.4 99.6 99.5 99.8

100.4 100.6 100.7 99.7 99.7 100.1

100.5 100.9 101.0 100.3 100.0 100.5

103.8 101.8 101.9 101.6 101.5 103.2

106.5 104.0 104.5 104.1 103.3 105.5

113.2 103.5 103.5 107.4 105.0 115.2

98.1 97.8 97.3 97.4 99.0 99.8

100.5 99.5 99.5 98.3 98.9 99.1

99.2 100.6 100.7 99.8 99.4 99.4

July ....................... August .................. September ........... October ................ November ............ December ............

100.3 100.4 101.0 101.1 102.0 102.3

100.6 100.7 101.3 101.1 102.3 102.4

101.3 100.9 101.8 101.1 102.0 102.2

105.1 103.7 107.3 105.3 106.5 106.5

109.2 106.2 112.8 109.0 110.0 110.3

113.3 117.7 119.9 113.7 116.1 116.4

100.4 100.1 100.6 101.1 102.2 101.8

98.6 99.1 98.8 99.4 100.8 100.7

99.7 99.8 99.6 99.4 100.2 100.4

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.7 103.5 103.2 104.0 105.0 104.4

102.8 103.7 103.3 104.2 105.0 104.3

102.7 103.4 102.5 103.2 103.8 102.4

108.2 107.9 107.2 107.9 107.1 105.1

111.6 111.2 110.4 110.7 108.8 105.8

119.5 123.3 125.3 116.7 115.4 109.7

104.4 103.9 102.1 104.6 104.8 103.6

102.2 101.9 101.7 103.0 103.9 104.0

100.5 101.5 100.6 101.3 102.5 101.3

July ....................... August .................. September ........... October ................ November ............ December ............

105.0 105.3 105.1 105.8 106.0 106.7

104.9 105.4 105.0 106.0 106.2 106.9

102.3 103.2 102.6 103.6 103.7 104.1

105.0 107.2 105.4 107.7 107.3 107.3

105.7 109.5 107.0 110.7 109.9 110.1

102.3 109.9 108.2 114.3 112.6 106.6

103.8 104.0 103.2 104.0 104.4 104.1

104.7 104.0 103.2 103.3 103.2 103.4

101.2 101.7 101.4 101.9 102.2 102.9

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

37

Table 2-1. Industrial Production Indexes by Market Groups—Continued (Seasonally adjusted, 2002 = 100.) Final products and nonindustrial supplies—Continued Consumer goods—Continued

Business equipment

Nondurable consumer goods—Continued

Year and month

Nondurable non-energy consumer goods Total

Foods and tobacco

Clothing

Chemical products

Paper products

Consumer energy products

Total

Transit

Information processing

Industrial and other

Defense and space equipment

Construction supplies

Business supplies

1967 ......................... 1968 ......................... 1969 .........................

53.8 55.6 57.2

57.5 59.0 60.6

159.0 164.7 167.2

24.6 26.8 28.2

52.0 51.5 53.3

43.1 46.1 49.4

22.4 23.4 24.9

77.3 86.2 85.0

2.0 2.3 2.6

53.5 53.4 56.9

92.0 92.2 87.8

50.2 52.8 55.1

33.1 35.2 37.4

1970 1971 1972 1973 1974

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

57.8 59.3 63.2 65.2 64.9

61.4 63.3 66.9 68.7 69.0

162.3 161.4 175.6 179.1 167.9

30.6 32.3 35.3 38.0 40.1

51.4 52.5 52.9 54.7 53.8

52.2 54.7 57.7 58.8 60.3

24.0 22.9 26.0 30.0 31.7

74.5 72.1 78.7 93.5 91.2

2.7 2.5 2.9 3.4 4.0

54.9 52.5 59.7 68.0 70.9

74.3 66.8 65.0 71.5 73.9

53.1 54.8 62.2 67.5 65.9

37.5 38.7 42.6 45.2 45.1

1975 1976 1977 1978 1979

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

63.2 67.3 69.8 72.5 71.5

67.9 72.3 73.7 76.5 76.0

163.1 171.8 180.2 184.5 174.3

38.6 42.0 43.7 46.4 46.5

50.8 52.8 57.7 60.6 61.2

61.6 64.8 67.4 68.6 70.4

28.0 29.7 34.3 38.8 43.8

79.8 82.3 98.1 114.7 134.5

3.6 4.2 5.6 7.0 8.8

62.2 64.7 70.5 75.5 80.2

74.9 72.8 65.1 65.6 70.3

55.8 60.2 65.6 69.3 71.0

41.6 44.2 47.9 50.5 52.3

1980 1981 1982 1983 1984

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

72.3 72.9 74.3 75.2 76.6

77.1 77.5 80.0 80.1 81.1

177.4 177.3 176.8 181.7 182.3

46.3 47.0 47.1 47.6 48.7

62.0 63.6 65.2 68.0 71.4

67.8 67.4 67.8 68.4 70.5

44.5 45.8 41.9 41.8 48.2

126.6 118.6 90.3 88.3 91.4

10.8 12.7 14.4 16.2 20.3

77.7 77.5 67.1 62.1 70.9

83.9 91.2 109.1 109.7 124.6

65.7 64.5 58.6 62.6 68.2

51.0 52.3 51.7 54.1 58.8

1985 1986 1987 1988 1989

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

77.7 79.7 82.5 84.8 84.3

83.5 84.9 86.9 89.4 88.7

174.4 174.2 175.5 172.7 164.7

49.2 53.0 57.1 60.5 61.7

75.1 76.1 80.5 82.7 83.0

70.4 71.8 74.5 78.4 78.8

50.2 49.3 52.4 57.2 59.0

94.5 86.4 88.0 97.3 101.6

22.0 22.1 24.8 27.1 27.7

71.8 71.4 73.9 80.3 83.0

139.6 148.2 151.1 152.0 152.0

69.9 72.3 76.7 78.4 78.0

60.4 62.4 66.1 68.6 69.6

1990 1991 1992 1993 1994

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

86.3 87.2 88.3 88.9 91.4

91.2 91.6 92.9 92.1 95.9

161.3 160.7 164.2 167.3 170.2

64.0 66.2 66.0 67.8 69.2

84.6 85.0 86.1 88.1 87.2

78.3 80.7 79.6 83.1 84.2

61.0 59.8 62.1 64.5 68.2

110.3 115.1 110.6 102.1 94.7

29.5 29.4 33.2 35.5 39.7

82.4 78.0 79.4 84.7 90.4

145.8 135.2 125.5 118.6 111.5

77.3 73.0 76.0 79.4 85.2

71.3 70.4 72.1 74.4 77.3

1995 1996 1997 1998 1999

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

93.5 94.1 96.9 99.5 98.8

98.3 98.0 99.5 102.0 100.1

169.5 164.9 164.0 154.2 148.2

72.2 75.6 79.9 83.9 85.1

87.7 87.4 95.1 100.4 102.7

86.4 90.2 89.6 89.6 92.7

73.8 80.5 92.3 102.8 108.6

90.8 94.7 113.7 136.4 135.1

47.0 56.6 70.7 83.8 101.4

96.1 99.5 105.6 109.0 106.5

108.2 104.5 102.2 105.9 103.1

87.0 90.9 95.3 100.2 102.7

80.7 83.6 89.7 95.0 99.3

2000 2001 2002 2003 2004

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

100.2 100.0 100.0 99.7 101.5

101.6 101.5 100.0 100.6 102.7

141.2 120.5 100.0 92.2 88.2

88.2 92.9 100.0 100.3 102.2

103.7 100.9 100.0 96.7 99.6

94.9 96.0 100.0 100.6 101.9

116.6 108.4 100.0 100.0 109.4

117.5 111.9 100.0 96.6 105.6

123.2 117.7 100.0 103.4 113.8

112.6 101.7 100.0 99.3 108.2

92.2 100.1 100.0 105.0 113.1

105.0 100.2 100.0 99.1 104.6

104.0 99.8 100.0 100.7 103.9

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

101.2 100.0 100.8 99.3 99.6 100.9

102.1 100.9 101.7 100.1 99.7 100.6

102.1 100.0 99.1 97.5 99.1 101.8

99.8 98.4 99.3 98.0 99.5 102.1

100.9 100.0 101.1 99.5 99.6 99.1

94.9 94.3 97.8 101.7 100.8 101.6

100.8 100.4 100.7 99.7 100.1 100.6

105.2 104.6 103.0 100.5 99.7 99.5

104.6 103.4 102.7 100.5 99.3 99.7

97.0 97.1 98.7 99.0 100.7 101.5

99.8 99.7 99.1 98.9 98.7 99.5

98.9 99.4 100.5 100.3 100.8 101.2

97.9 97.9 99.1 99.8 100.3 100.9

July ....................... August .................. September ........... October ................ November ............ December ............

100.1 100.0 100.2 99.7 99.3 98.9

98.9 99.6 99.4 99.6 98.6 98.8

102.0 100.0 101.7 98.8 100.0 97.8

102.1 100.5 101.1 99.7 100.3 99.1

99.6 100.5 101.1 100.3 99.5 98.8

101.2 99.8 99.9 102.0 103.9 102.0

99.7 100.3 99.6 99.4 99.6 99.2

100.4 99.2 98.3 97.4 97.1 95.2

97.8 98.3 97.8 97.2 98.8 100.0

100.5 101.9 101.1 101.3 101.0 100.2

99.0 99.6 100.3 101.2 100.6 103.6

99.6 100.2 100.5 99.9 99.6 99.0

100.8 100.8 100.9 101.1 100.4 100.0

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

99.0 99.8 100.5 100.0 99.1 99.8

98.3 100.0 101.3 101.3 100.4 100.4

97.2 95.4 95.2 94.3 94.1 92.6

100.7 100.7 100.3 100.2 98.6 100.6

98.5 98.0 99.0 95.9 95.9 97.9

100.1 104.4 101.4 98.7 100.6 97.2

99.0 99.4 99.7 98.3 98.2 98.8

95.7 94.4 95.2 94.1 93.6 94.2

100.7 102.7 103.2 101.7 102.2 102.7

99.2 99.3 99.2 97.8 97.5 98.2

103.7 104.1 103.4 103.1 103.5 103.9

99.1 98.1 97.8 96.9 98.1 98.8

101.4 101.0 101.2 99.8 100.1 99.8

July ....................... August .................. September ........... October ................ November ............ December ............

99.7 99.3 99.4 99.3 100.3 100.0

100.8 100.5 100.9 100.6 101.4 101.2

91.7 88.4 88.7 89.6 90.1 89.2

100.1 100.4 100.1 99.7 101.2 101.1

96.7 95.8 94.6 95.5 96.4 96.2

99.9 101.7 100.6 99.8 99.9 102.2

99.1 100.3 100.9 100.9 102.8 102.9

95.7 96.0 99.6 98.5 100.7 101.1

103.0 104.8 104.6 105.4 104.8 105.0

98.0 99.1 99.2 99.1 102.4 102.3

104.5 105.4 106.2 107.1 107.8 107.2

98.4 99.3 99.2 100.2 101.6 102.0

100.3 100.3 100.3 100.7 101.7 101.7

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

99.7 100.8 100.8 101.7 102.8 100.8

100.8 102.3 102.0 103.0 104.8 102.2

89.3 89.8 90.2 90.7 89.9 88.8

100.7 100.6 101.3 102.2 102.2 100.8

95.6 98.0 97.8 98.8 99.8 98.7

104.1 104.9 99.8 99.7 101.5 103.3

103.7 105.3 105.7 107.2 108.3 108.8

101.8 102.9 102.4 104.5 103.9 103.7

106.5 108.3 108.7 109.1 111.1 112.5

102.6 104.4 105.0 106.9 108.2 108.5

106.4 108.6 109.5 110.9 112.1 112.0

102.4 102.3 102.7 103.5 104.9 104.6

101.7 102.8 102.2 103.2 104.1 103.8

July ....................... August .................. September ........... October ................ November ............ December ............

101.1 102.1 101.7 102.2 102.3 102.6

102.2 103.2 102.6 102.7 103.0 103.0

86.4 85.2 86.7 86.7 87.7 87.0

102.0 102.8 102.9 104.0 103.3 103.7

99.6 101.9 100.2 100.7 101.1 103.4

101.5 100.0 100.4 101.0 102.1 104.1

111.3 110.9 111.3 112.6 112.9 114.1

105.4 106.4 106.1 108.7 110.2 110.6

114.9 115.9 117.3 118.6 119.9 122.6

111.3 109.7 109.7 110.7 110.0 110.8

114.2 114.6 116.1 116.7 117.6 119.0

105.7 105.7 104.9 106.1 105.7 106.1

104.3 104.5 104.2 104.7 105.0 106.2

38

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 2-1. Industrial Production Indexes by Market Groups—Continued (Seasonally adjusted, 2002 = 100.) Materials Non-energy materials Durable

Year and month

Nondurable Energy materials

Total Total Total

Consumer parts

Equipment parts

Other

Total

Textile

Paper

Chemical

1967 ......................... 1968 ......................... 1969 .........................

38.3 40.8 43.2

31.5 33.8 35.9

25.0 26.4 27.8

48.2 54.3 54.7

7.1 7.3 7.8

58.1 61.1 65.1

47.7 52.4 56.7

80.1 88.4 90.8

49.9 52.2 56.7

33.3 38.7 43.0

68.4 71.6 75.2

1970 1971 1972 1973 1974

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

41.7 42.4 46.6 50.8 50.7

33.8 34.4 38.5 42.7 42.6

25.3 25.4 28.7 32.7 32.4

45.9 50.8 56.5 65.7 58.1

7.1 7.1 8.2 9.7 10.2

60.8 58.5 66.2 73.3 73.3

57.0 59.4 65.5 68.8 69.7

87.5 91.6 96.5 93.8 87.7

56.2 58.7 62.6 67.5 70.9

44.0 46.6 54.2 59.8 61.5

78.9 79.6 82.6 84.7 84.3

1975 1976 1977 1978 1979

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

45.2 49.2 52.6 55.2 56.8

36.6 40.8 44.2 47.1 48.4

27.1 30.3 33.1 35.7 36.9

46.8 59.8 65.5 69.3 65.5

8.8 9.5 10.8 12.1 13.4

61.3 65.8 69.7 74.3 76.1

62.5 69.2 74.2 77.0 78.4

85.9 95.7 102.0 100.9 100.1

61.7 67.8 70.9 74.3 77.3

51.5 59.0 65.6 69.5 72.3

83.5 85.4 88.1 89.1 91.6

1980 1981 1982 1983 1984

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

54.6 54.9 50.7 52.1 57.0

45.5 45.7 41.2 44.0 49.1

34.2 34.3 29.9 31.9 37.1

50.5 48.0 40.8 49.6 58.9

13.7 14.1 12.9 13.2 15.9

70.4 70.5 59.5 62.3 68.9

75.9 76.4 72.4 77.6 81.0

97.7 95.5 87.2 97.8 97.6

77.9 79.4 80.1 85.2 90.4

66.9 67.4 60.4 66.8 71.0

92.3 93.2 89.2 86.4 91.8

1985 1986 1987 1988 1989

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

57.0 57.0 60.0 63.3 63.8

49.1 50.1 53.4 56.8 57.2

37.3 37.8 40.5 43.7 43.9

61.3 60.8 62.4 67.5 64.0

16.0 16.3 17.8 19.4 20.1

68.5 69.8 74.6 80.0 80.3

80.3 82.8 87.8 91.1 91.9

92.3 96.2 108.0 107.0 109.3

89.9 93.8 98.4 101.7 101.6

69.7 73.1 79.5 84.3 85.4

91.3 87.7 89.8 92.9 93.8

1990 1991 1992 1993 1994

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

64.2 63.3 65.4 67.6 72.1

57.3 56.1 58.9 61.6 66.7

44.0 42.8 45.7 48.8 54.4

59.7 56.4 63.3 71.9 83.3

20.8 20.8 22.1 23.5 26.8

80.8 77.3 81.3 84.5 90.8

92.1 91.1 93.4 94.5 97.2

103.9 103.8 109.8 114.3 121.3

102.0 99.8 102.2 102.2 106.1

86.3 85.0 87.2 87.7 90.4

95.7 95.8 94.9 95.1 96.7

1995 1996 1997 1998 1999

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

76.3 80.0 86.7 92.0 98.0

71.4 75.6 83.9 90.3 97.8

60.3 66.3 75.8 84.3 94.4

86.6 89.0 95.8 98.8 108.8

33.1 40.0 51.3 63.6 78.9

94.2 97.0 101.9 104.7 106.3

98.2 97.3 101.9 103.3 104.8

119.3 116.0 121.4 120.4 117.4

108.8 105.3 106.5 107.4 109.5

91.1 91.5 98.1 98.5 101.6

98.1 99.6 99.5 99.9 99.7

2000 2001 2002 2003 2004

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

103.7 99.0 100.0 100.4 104.6

104.5 98.6 100.0 100.6 106.5

104.5 99.0 100.0 102.3 110.4

108.8 95.9 100.0 97.7 99.9

100.1 99.6 100.0 109.6 125.8

107.4 99.9 100.0 98.7 103.7

104.7 98.1 100.0 97.8 100.1

112.6 99.6 100.0 94.4 89.2

108.3 101.8 100.0 95.0 96.7

102.4 95.4 100.0 99.4 104.2

101.1 100.0 100.0 99.6 99.6

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

97.6 98.0 98.8 99.9 100.2 101.2

97.0 97.5 98.5 99.6 100.2 101.3

96.6 97.0 98.2 99.5 99.7 101.2

96.5 98.0 99.0 100.9 100.6 101.3

95.9 95.6 96.6 98.5 98.9 100.4

97.3 97.9 99.2 99.7 100.0 101.8

97.9 98.2 99.2 99.9 101.0 101.6

96.2 97.1 98.9 100.1 100.9 102.0

98.7 98.5 98.3 100.3 101.1 100.1

96.9 97.6 99.2 100.0 101.9 102.8

99.4 99.6 99.7 100.6 100.4 100.7

July ....................... August .................. September ........... October ................ November ............ December ............

101.1 101.2 101.0 100.3 100.6 100.3

101.1 101.5 101.4 100.7 100.8 100.3

100.8 101.8 101.7 101.2 101.4 100.9

101.8 101.2 100.8 99.6 101.6 98.7

100.5 102.3 102.8 102.3 102.8 103.5

100.5 101.6 101.3 101.0 100.1 99.6

101.5 101.0 100.8 99.9 99.7 99.5

102.3 101.5 101.1 100.0 100.4 99.4

100.9 100.9 100.8 100.9 100.3 99.1

102.5 101.3 100.6 99.1 99.0 99.1

101.1 100.1 99.6 99.0 99.9 99.9

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

100.8 100.5 100.0 99.5 99.3 99.4

100.9 100.4 100.2 99.4 99.4 99.7

101.9 101.3 100.8 100.1 100.8 101.3

101.3 98.4 96.8 95.4 95.7 97.1

104.9 105.7 106.5 106.4 107.3 107.8

99.7 99.0 98.2 97.2 98.0 98.2

99.2 98.9 99.0 98.2 97.1 97.0

97.1 98.3 97.4 96.8 95.0 93.7

98.6 96.2 97.6 95.1 95.2 94.6

100.1 100.3 99.8 99.7 97.5 97.1

100.2 100.9 99.3 99.6 98.9 98.7

July ....................... August .................. September ........... October ................ November ............ December ............

99.8 99.8 100.6 101.1 101.7 102.1

99.9 99.7 100.8 101.5 102.6 103.1

101.7 101.6 102.8 103.9 105.3 106.0

97.3 95.4 99.0 97.7 98.9 99.7

109.3 110.3 111.8 113.5 115.3 116.3

97.7 97.7 97.7 99.2 100.6 100.9

96.9 96.5 97.4 97.5 98.1 98.3

90.8 90.9 92.1 92.8 93.8 93.7

94.3 93.3 93.6 93.0 93.7 94.2

98.2 98.1 99.6 100.1 100.6 101.1

99.3 100.0 99.8 100.0 99.3 99.3

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.5 103.2 103.1 103.8 104.9 104.5

103.2 104.3 104.6 105.2 106.3 106.3

106.3 107.7 108.1 108.6 109.9 110.1

100.4 101.6 100.4 99.8 99.6 98.4

117.2 119.6 120.7 121.5 124.0 125.5

100.6 101.5 102.1 102.9 104.1 104.0

98.2 98.7 98.8 99.7 100.3 100.1

93.0 90.5 90.0 88.9 88.3 88.7

94.4 94.6 94.6 95.9 96.8 97.2

100.8 101.3 102.3 103.4 104.3 104.6

100.6 100.2 99.3 99.8 101.0 99.8

July ....................... August .................. September ........... October ................ November ............ December ............

105.1 105.2 105.1 105.6 105.9 106.5

107.2 107.8 107.7 108.3 108.3 108.8

111.1 112.0 112.1 112.8 112.8 113.4

97.7 99.9 99.3 100.9 100.4 100.8

127.5 129.0 130.6 130.3 130.8 132.5

105.1 104.9 104.3 105.2 105.2 105.1

100.8 101.0 100.7 101.0 101.0 101.3

89.4 89.8 89.0 88.0 87.1 87.4

98.1 97.6 97.6 97.4 98.0 98.4

105.0 105.8 105.4 105.6 105.9 106.3

99.7 98.4 98.2 98.5 99.3 100.4

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

39

Table 2-1. Industrial Production Indexes by Market Groups—Continued (Seasonally adjusted, 2002 = 100.) Special aggregates Energy

Non-energy Selected high-tech

Year and month Total

Consumer energy products

Commercial energy products

Oil and gas well drilling

Converted fuels

Primary energy

Total

Computers and office equipment

Total

Communica- Semiconductors and tions related equipment components

Total non-energy, excluding high-tech

1967 ......................... 1968 ......................... 1969 .........................

57.5 60.6 63.9

43.1 46.1 49.4

30.7 33.3 35.1

... ... ...

57.1 61.2 65.4

79.0 81.2 84.0

35.9 37.9 39.6

0.3 0.3 0.3

... ... ...

... ... ...

... ... ...

52.7 55.6 57.9

1970 1971 1972 1973 1974

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

66.9 68.2 71.3 73.1 73.5

52.2 54.7 57.7 58.8 60.3

37.7 39.7 41.8 44.1 44.2

... ... 97.2 91.5 106.3

68.8 70.7 75.1 78.0 76.9

88.1 87.4 88.8 89.9 90.2

37.8 38.4 42.4 46.3 46.0

0.3 0.3 0.4 0.4 0.5

... ... 0.1 0.1 0.2

... ... 11.1 12.1 12.3

... ... 0.1 0.2 0.2

55.1 56.2 61.8 67.1 66.3

1975 1976 1977 1978 1979

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

73.7 76.1 79.1 80.4 82.8

61.6 64.8 67.4 68.6 70.4

45.8 48.1 49.8 51.3 53.7

119.9 135.0 171.5 191.0 203.7

74.2 78.3 81.1 80.5 83.5

91.0 91.1 93.7 96.0 98.1

41.1 44.7 48.5 51.6 53.2

0.5 0.6 0.8 1.0 1.3

0.2 0.3 0.4 0.6 0.8

10.7 10.9 13.4 14.7 17.6

0.2 0.2 0.3 0.4 0.5

59.2 64.1 69.0 72.8 74.1

1980 1981 1982 1983 1984

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

83.1 84.4 81.3 78.9 83.6

67.8 67.4 67.8 68.4 70.5

52.8 54.2 54.9 56.0 59.0

240.9 289.4 254.7 197.3 214.9

81.8 80.7 74.2 74.1 78.8

100.1 102.1 99.2 94.9 100.9

51.4 52.0 49.1 51.3 56.5

1.5 1.8 2.1 2.5 3.3

1.2 1.6 1.9 2.7 3.9

19.3 20.1 21.3 20.7 23.4

0.5 0.6 0.7 0.8 1.1

70.6 70.8 66.0 68.4 74.3

1985 1986 1987 1988 1989

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

83.3 80.5 82.8 86.0 86.9

70.4 71.8 74.5 78.4 78.8

61.2 62.9 66.2 68.5 71.0

196.8 95.9 92.5 111.0 96.7

78.5 75.7 79.6 83.2 86.3

100.3 96.1 96.8 99.4 98.8

57.5 58.8 62.1 65.4 66.0

3.5 3.6 4.3 5.0 5.3

4.5 4.9 6.3 7.7 8.1

23.6 22.2 22.7 24.1 24.2

1.2 1.3 1.6 1.8 2.0

75.3 77.0 80.6 84.2 84.6

1990 1991 1992 1993 1994

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

88.3 88.8 87.6 89.2 91.0

78.3 80.7 79.6 83.1 84.2

73.0 74.1 73.6 75.8 78.8

102.3 79.7 55.6 77.5 91.9

87.1 87.1 88.7 90.4 91.8

101.5 101.6 99.0 98.2 99.9

66.4 65.1 67.6 70.0 74.3

6.0 6.4 7.7 9.1 11.8

8.7 9.0 11.3 14.0 17.4

26.9 26.8 30.8 35.2 43.6

2.3 2.7 3.3 3.8 5.1

84.7 82.5 84.7 86.9 90.7

1995 1996 1997 1998 1999

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

92.9 95.2 95.6 96.0 96.8

86.4 90.2 89.6 89.6 92.7

81.6 84.2 87.6 89.1 92.6

89.5 96.0 110.1 102.9 80.7

93.2 94.8 96.3 97.5 99.1

101.4 102.8 101.6 101.7 100.1

78.2 81.8 88.9 94.9 99.8

16.6 23.3 34.6 48.4 70.5

24.3 34.4 48.7 67.1 88.1

51.5 62.5 82.1 94.4 118.3

7.9 11.8 18.9 29.1 48.2

93.0 94.5 99.2 102.8 104.1

2000 2001 2002 2003 2004

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

99.2 99.3 100.0 100.8 101.5

94.9 96.0 100.0 100.6 101.9

96.4 98.1 100.0 105.1 107.4

114.4 138.6 100.0 116.2 126.9

101.5 97.7 100.0 99.9 101.6

101.0 101.2 100.0 99.5 98.6

104.4 100.0 100.0 100.6 105.4

100.7 102.6 100.0 117.6 141.2

102.8 103.7 100.0 108.9 110.7

158.9 142.8 100.0 100.1 116.7

77.4 85.2 100.0 130.7 168.8

105.0 99.8 100.0 99.4 103.2

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

98.0 97.9 99.0 100.8 100.5 100.8

94.9 94.3 97.8 101.7 100.8 101.6

96.3 96.8 98.1 100.9 100.8 100.3

107.4 102.3 97.5 93.4 97.7 100.0

96.2 97.6 99.5 100.5 100.1 100.8

101.3 100.7 99.8 100.6 100.6 100.6

98.7 98.5 99.4 99.5 100.0 101.0

97.7 97.2 97.7 98.1 97.9 99.4

106.5 105.5 102.8 99.3 96.6 95.7

108.6 107.1 107.0 104.7 101.1 102.0

88.8 88.9 91.1 94.4 97.0 100.0

98.8 98.7 99.5 99.6 100.1 101.1

July ....................... August .................. September ........... October ................ November ............ December ............

101.2 100.0 99.9 100.4 101.0 100.5

101.2 99.8 99.9 102.0 103.9 102.0

101.8 100.0 101.2 103.2 100.9 99.8

99.4 99.4 101.0 101.2 98.8 102.4

102.4 100.4 102.4 100.7 99.8 99.6

100.3 100.0 97.9 98.1 100.0 100.1

100.6 100.8 100.8 100.2 100.4 100.0

98.9 100.8 101.4 101.6 103.7 105.7

96.0 96.8 97.6 98.7 100.7 103.8

95.8 96.3 94.7 91.9 95.3 95.6

101.6 104.7 106.3 107.4 108.9 111.1

100.7 100.8 100.8 100.1 100.2 99.6

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

101.3 102.5 100.7 100.2 100.3 99.0

100.1 104.4 101.4 98.7 100.6 97.2

107.8 105.7 104.7 103.5 104.2 101.3

103.0 107.7 110.5 113.4 117.2 118.9

102.5 103.0 98.5 98.4 96.7 97.1

99.0 99.7 99.7 100.3 100.0 99.5

100.4 100.2 100.3 99.5 99.4 100.0

107.4 110.9 112.6 112.9 114.1 115.7

107.2 109.1 109.1 108.2 108.1 109.7

92.3 97.8 99.9 99.0 98.9 100.5

114.7 117.9 120.2 121.9 124.5 126.1

99.9 99.4 99.5 98.6 98.4 98.9

July ....................... August .................. September ........... October ................ November ............ December ............

100.4 101.4 101.0 101.0 100.7 101.5

99.9 101.7 100.6 99.8 99.9 102.2

105.0 105.3 105.0 105.2 106.3 107.9

117.9 119.0 119.8 121.5 122.0 123.0

99.8 101.3 99.5 100.6 100.5 100.7

99.0 99.4 100.0 99.7 98.7 98.6

100.2 100.1 101.0 101.1 102.3 102.4

118.3 120.7 122.1 124.3 125.3 127.0

111.9 112.6 110.7 107.7 105.9 107.0

99.1 101.7 101.5 103.5 102.9 104.3

131.3 134.5 138.5 143.4 146.8 148.8

99.0 98.8 99.6 99.6 100.8 100.8

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.5 102.7 100.7 101.1 102.4 101.9

104.1 104.9 99.8 99.7 101.5 103.3

106.5 108.4 105.8 106.7 107.6 106.9

122.8 123.1 124.4 124.3 123.6 125.0

101.9 102.5 99.1 101.4 105.1 102.0

99.9 99.1 99.3 99.1 99.0 98.7

102.7 103.7 103.8 104.7 105.5 104.9

130.5 133.5 135.0 135.5 138.3 140.4

109.7 111.9 112.2 111.1 109.8 109.2

108.1 109.9 109.6 109.7 111.8 114.4

152.4 156.6 159.6 161.0 166.1 169.1

101.0 101.8 101.8 102.7 103.5 102.8

July ....................... August .................. September ........... October ................ November ............ December ............

101.4 100.1 100.4 100.6 101.7 103.1

101.5 100.0 100.4 101.0 102.1 104.1

106.3 105.5 107.2 107.1 109.0 111.2

126.6 127.6 128.2 128.9 133.2 134.7

100.9 98.9 100.5 100.8 102.2 103.6

99.1 98.1 97.1 97.3 97.8 98.8

105.8 106.5 106.1 107.0 107.0 107.5

142.4 145.7 147.6 147.0 147.8 151.0

109.2 109.7 110.3 110.9 111.7 112.6

117.1 119.3 120.9 123.7 126.9 129.3

171.7 177.0 179.6 176.4 175.9 180.5

103.6 104.1 103.6 104.6 104.5 104.9

. . . = Not available.

40

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 2-2. Industrial Production Indexes by NAICS Industry Groups (Seasonally adjusted, 2002 = 100.) Manufacturing (NAICS) Durable goods manufacturing Year and month

Total industrial production

Manufacturing (SIC)

Total Total

Wood products

Nonmetallic mineral products

Primary metals

Fabricated metal products

Machinery

Computer and electronic products

Electrical equipment, appliances, and components

Motor vehicles and parts

Aerospace and misc. transport equipment

1967 ........................ 1968 ........................ 1969 ........................

39.2 41.4 43.3

36.1 38.1 39.8

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1970 1971 1972 1973 1974

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

41.9 42.5 46.6 50.4 50.2

38.0 38.6 42.7 46.5 46.4

... ... 41.7 45.5 45.4

... ... 31.6 35.5 35.3

... ... 73.5 71.1 64.6

... ... 74.1 79.6 78.7

... ... 120.9 140.6 144.2

... ... 69.3 76.6 75.4

... ... 68.4 79.0 82.9

... ... 1.5 1.7 1.9

... ... 71.8 80.9 78.9

... ... 44.2 50.6 43.4

... ... 72.7 82.9 84.2

1975 1976 1977 1978 1979

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

45.7 49.3 53.1 56.0 57.7

41.5 45.2 49.1 52.1 53.7

40.5 44.2 48.0 51.0 52.6

30.6 33.4 36.7 39.6 41.6

59.9 67.5 72.8 73.7 71.3

70.5 74.5 79.3 84.6 84.4

111.8 118.7 119.8 127.4 130.4

65.1 69.8 75.7 79.4 82.9

72.3 75.5 82.4 88.8 93.8

1.7 2.0 2.5 3.1 3.8

63.3 71.5 78.8 83.6 87.1

37.8 48.3 55.0 57.3 52.5

80.0 74.9 75.5 83.2 97.2

1980 1981 1982 1983 1984

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

56.2 56.9 54.0 55.4 60.4

51.7 52.3 49.5 51.7 56.9

50.5 51.0 48.2 50.4 55.5

39.7 40.2 36.8 38.5 44.0

66.0 64.6 57.9 67.2 71.9

76.0 72.8 64.5 69.4 74.8

114.4 114.6 80.9 82.8 90.8

78.2 77.7 69.6 70.2 76.4

89.3 88.4 74.0 66.9 77.9

4.6 5.3 6.0 6.9 8.6

81.9 80.9 72.9 75.4 84.9

38.6 37.6 33.9 43.4 52.0

104.8 100.3 93.5 89.1 94.4

1985 1986 1987 1988 1989

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

61.2 61.8 64.9 68.2 68.8

57.9 59.1 62.4 65.6 66.1

56.4 57.7 60.9 64.2 64.8

45.0 45.8 48.4 51.8 52.4

72.7 79.0 86.2 86.1 84.8

76.2 79.4 83.7 85.4 84.6

83.9 81.9 88.2 98.8 96.6

77.5 77.0 78.4 82.4 81.7

78.2 76.9 78.3 86.2 89.3

9.2 9.6 10.8 11.9 12.2

83.6 85.1 86.3 90.4 89.0

54.0 53.9 55.9 59.7 59.1

101.0 106.2 110.0 115.7 122.7

1990 1991 1992 1993 1994

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

69.4 68.3 70.3 72.6 76.5

66.6 65.3 67.7 70.1 74.3

65.3 64.1 66.7 69.1 73.5

52.5 50.9 53.5 56.5 61.5

83.9 78.5 82.8 83.7 88.7

83.4 76.8 80.2 82.0 86.5

95.4 89.6 91.7 96.1 103.5

80.7 77.0 79.4 82.4 89.6

87.1 81.8 81.6 87.6 96.0

13.2 13.7 15.5 17.1 20.3

86.8 82.2 87.2 92.7 99.5

55.5 53.1 60.4 66.8 76.7

123.2 118.9 110.0 102.6 92.1

1995 1996 1997 1998 1999

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

80.2 83.6 89.7 94.9 99.2

78.3 81.8 88.8 94.8 99.7

77.6 81.4 88.3 94.2 99.2

66.8 72.4 81.2 89.8 97.6

90.8 93.8 96.6 100.9 105.1

89.1 94.8 98.0 102.9 103.8

104.5 107.0 111.6 113.5 113.2

95.1 98.6 103.0 106.3 107.1

102.7 106.2 112.2 115.0 112.7

26.4 33.6 45.2 58.3 77.2

101.7 104.9 108.8 112.8 114.8

79.0 79.6 85.8 90.2 100.1

87.5 90.9 101.5 117.6 113.4

2000 2001 2002 2003 2004

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

103.5 99.9 100.0 100.6 104.7

104.3 99.9 100.0 100.5 105.4

104.0 99.7 100.0 100.7 105.8

105.3 100.2 100.0 102.3 109.8

103.6 97.0 100.0 98.8 104.9

103.8 99.9 100.0 100.1 105.4

109.5 99.1 100.0 97.6 103.4

111.3 103.2 100.0 98.6 103.2

118.4 104.8 100.0 99.0 110.7

102.5 103.6 100.0 112.6 130.7

120.6 108.3 100.0 97.8 101.5

99.4 90.6 100.0 104.0 108.0

99.7 105.9 100.0 97.2 100.7

2002 January ............... February .............. March .................. April ..................... May ..................... June ....................

98.6 98.4 99.3 99.7 100.1 101.0

98.7 98.6 99.4 99.5 100.0 101.0

98.5 98.5 99.3 99.5 100.0 101.1

97.8 97.9 98.8 99.4 99.8 100.9

99.6 99.3 101.3 100.9 100.8 101.9

99.5 99.9 100.0 100.3 99.7 100.7

97.1 97.0 99.0 99.4 100.7 102.1

98.1 98.6 99.5 99.6 100.2 101.1

97.4 97.6 98.5 99.3 100.3 100.9

99.0 98.3 98.4 98.1 98.3 99.7

99.7 99.6 101.5 101.1 101.8 101.8

93.8 94.5 95.7 99.0 99.4 101.7

104.0 103.1 102.0 100.3 99.3 99.0

July ...................... August ................. September .......... October ............... November ........... December ...........

100.7 100.7 100.7 100.3 100.5 100.1

100.6 100.8 100.8 100.2 100.4 100.0

100.6 100.9 100.8 100.2 100.5 100.1

100.5 101.2 101.1 100.6 101.3 100.7

100.4 100.5 99.6 99.7 98.1 97.7

100.0 100.1 100.9 100.4 99.5 98.8

99.4 103.2 101.4 101.1 102.1 97.6

100.5 100.8 100.8 100.6 100.0 100.1

100.5 102.0 101.8 101.3 100.9 99.4

99.1 100.5 101.0 100.6 102.5 104.4

99.8 99.3 98.3 98.5 99.3 99.6

103.2 103.4 103.0 100.9 104.5 100.9

98.9 98.9 98.9 99.2 98.0 98.4

2003 January ............... February .............. March .................. April ..................... May ..................... June ....................

100.5 100.6 100.4 99.6 99.5 99.8

100.3 100.1 100.3 99.4 99.4 99.9

100.4 100.2 100.4 99.6 99.5 100.0

101.5 100.9 100.7 100.0 100.4 101.4

97.9 97.6 96.2 96.4 96.6 97.3

99.2 98.0 99.3 97.9 100.4 100.3

100.8 98.7 94.0 95.2 94.7 98.5

99.8 98.8 98.6 97.6 98.2 98.1

98.3 98.7 99.0 97.5 97.6 97.6

106.2 107.8 108.8 108.5 109.7 110.9

97.7 98.4 97.7 96.8 97.8 98.5

105.2 101.8 101.4 100.5 99.9 101.8

97.5 97.0 97.1 96.9 96.5 96.5

July ...................... August ................. September .......... October ............... November ........... December ...........

100.3 100.4 101.0 101.1 102.0 102.3

100.2 100.1 101.0 101.1 102.3 102.3

100.4 100.3 101.3 101.4 102.6 102.7

102.0 102.1 103.6 103.7 105.3 105.6

98.9 98.3 99.1 100.6 103.9 102.9

100.1 100.8 100.0 101.3 102.2 101.7

95.4 95.6 94.2 98.5 101.0 104.2

98.2 97.7 98.4 99.0 99.7 99.8

97.1 98.5 99.4 98.5 102.6 103.4

112.6 114.8 116.0 117.7 118.7 119.4

96.2 98.1 97.0 98.2 98.7 98.2

104.9 102.3 109.2 105.9 107.0 107.6

96.9 97.2 97.0 97.4 98.6 98.4

2004 January ............... February .............. March .................. April ..................... May ..................... June ....................

102.7 103.5 103.2 104.0 105.0 104.4

102.6 103.6 103.7 104.6 105.5 104.9

103.1 104.0 104.1 105.0 105.9 105.3

106.2 107.4 107.6 108.4 109.2 109.0

103.2 103.9 103.4 105.2 106.3 104.3

102.7 102.2 104.7 104.9 105.1 104.5

98.5 101.2 101.6 101.6 103.2 103.4

100.7 101.2 100.9 102.3 103.4 103.5

104.1 107.4 108.0 109.3 110.6 111.0

121.3 123.6 125.0 125.3 128.2 129.8

99.0 99.1 98.6 100.4 101.0 101.6

109.0 109.3 108.6 108.9 107.2 104.9

98.0 99.4 98.9 99.6 99.6 99.6

July ...................... August ................. September .......... October ............... November ........... December ...........

105.0 105.3 105.1 105.8 106.0 106.7

105.7 106.4 106.0 106.9 106.9 107.5

106.2 106.8 106.4 107.4 107.4 107.9

110.2 111.0 110.9 112.1 112.1 112.9

106.1 105.6 103.7 105.9 105.3 105.4

106.0 106.6 107.1 107.0 106.0 107.7

106.4 104.7 105.2 105.3 105.8 104.4

104.0 104.3 103.8 104.8 104.6 104.6

113.5 111.8 112.8 113.3 113.1 113.1

131.9 134.4 136.1 136.4 136.9 139.7

102.1 102.7 102.8 103.2 103.6 103.6

104.5 108.4 106.5 109.8 109.2 110.0

101.4 101.3 100.9 102.2 103.6 104.2

. . . = Not available.

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

41

Table 2-2. Industrial Production Indexes by NAICS Industry Groups—Continued (Seasonally adjusted, 2002 = 100.) Manufacturing (NAICS)—Continued Durable goods manufacturing—Continued

Nondurable goods manufacturing

Year and month Furniture and related products

1967 ........................ 1968 ........................ 1969 ........................

Miscellaneous manufacturing

Food, beverage, Textile and Apparel and and tobacco product mills leather products

Total

Paper

Printing and support

Petroleum and coal products

Chemical

Other manufacturing Plastics and (non-NAICS) rubber products

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1970 1971 1972 1973 1974

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

... ... 54.2 56.7 52.2

... ... 41.2 42.4 41.5

... ... 61.0 63.8 64.1

... ... 65.8 66.5 67.5

... ... 86.8 85.9 79.0

... ... 179.5 182.6 171.7

... ... 66.1 71.4 74.5

... ... 51.5 54.1 52.5

... ... 73.6 72.3 78.0

... ... 48.3 52.9 55.0

... ... 35.2 39.6 38.6

... ... 65.6 67.6 68.0

1975 1976 1977 1978 1979

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

44.5 49.6 56.9 61.4 60.9

38.8 42.2 45.8 46.8 46.9

59.5 64.9 69.4 71.8 72.2

66.3 70.8 72.4 75.0 74.6

76.4 85.1 93.0 92.7 92.6

167.2 176.0 184.5 188.6 177.1

64.6 71.1 74.2 77.6 78.7

49.0 52.6 57.0 60.3 62.1

76.9 85.2 91.2 92.1 98.4

48.3 54.1 58.8 61.7 63.1

33.0 36.5 43.0 44.4 43.8

64.8 66.8 73.2 75.7 77.2

1980 1981 1982 1983 1984

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

58.8 58.4 55.0 60.2 67.6

44.4 46.1 46.6 46.5 50.4

70.0 70.6 69.6 72.8 76.2

75.8 76.6 78.8 79.0 80.1

88.8 86.9 80.6 90.9 93.2

180.5 180.4 179.3 184.2 184.0

78.6 79.6 78.4 83.4 87.6

62.6 64.2 69.0 74.2 80.8

87.2 83.2 79.5 80.8 82.6

59.6 60.5 56.6 60.6 64.1

39.0 41.3 40.5 44.1 50.9

79.9 81.8 82.8 85.0 88.9

1985 1986 1987 1988 1989

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

68.0 71.1 76.1 75.2 74.8

51.1 52.3 56.4 61.8 62.6

76.6 78.9 83.1 85.9 86.4

82.7 83.7 85.4 87.8 87.3

90.0 93.8 103.4 102.6 104.4

175.9 175.1 176.8 173.5 165.9

85.9 89.4 92.4 96.1 97.1

84.0 88.2 94.8 97.8 98.2

81.3 80.9 84.8 87.4 86.5

63.6 66.5 71.8 75.8 77.3

52.9 55.1 61.0 63.7 65.9

92.4 94.2 99.7 99.3 97.8

1990 1991 1992 1993 1994

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

73.2 67.6 73.0 76.1 78.6

65.7 67.0 69.9 73.9 74.4

87.8 87.4 89.7 91.0 94.1

89.7 90.4 91.6 91.3 94.4

100.2 98.8 104.2 108.2 114.2

162.0 160.9 165.2 168.6 170.5

97.0 97.3 99.6 100.8 105.1

101.9 98.7 104.1 104.4 105.5

86.6 85.3 84.9 85.5 87.9

79.1 78.8 80.0 81.0 83.0

67.7 67.0 72.1 77.2 83.6

96.7 92.8 91.0 91.8 90.9

1995 1996 1997 1998 1999

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

80.0 80.6 89.3 95.7 98.9

77.2 81.0 83.2 88.1 90.0

95.8 96.1 99.6 101.1 101.8

97.1 96.4 98.4 101.3 99.5

113.1 110.5 116.6 115.7 115.5

169.3 165.3 164.6 155.2 148.6

106.7 103.3 105.5 106.4 107.2

107.1 107.9 110.0 111.2 112.3

89.5 91.6 94.6 92.8 96.7

84.4 86.1 91.2 92.7 94.6

85.7 88.6 94.0 97.4 102.5

90.9 90.2 97.7 104.1 107.4

2000 2001 2002 2003 2004

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

100.4 94.0 100.0 98.3 101.4

94.9 93.7 100.0 102.0 105.5

102.4 99.0 100.0 98.9 101.0

100.9 100.7 100.0 100.5 102.3

113.3 101.6 100.0 95.9 93.1

141.7 120.4 100.0 92.1 88.4

105.0 99.0 100.0 95.9 98.0

113.0 106.0 100.0 95.8 96.0

96.6 96.0 100.0 98.3 103.7

96.0 94.3 100.0 99.7 102.8

103.6 97.6 100.0 99.4 102.5

109.5 103.1 100.0 97.0 98.8

2002 January ............... February .............. March .................. April ..................... May ..................... June ....................

96.8 98.0 99.9 101.2 101.8 101.4

95.0 96.4 97.6 98.5 99.6 101.6

99.4 99.1 100.0 99.8 100.3 101.3

101.5 100.5 101.4 100.1 99.7 100.7

97.6 97.9 99.7 100.6 100.8 102.3

102.1 100.2 99.2 97.7 99.2 101.7

97.4 97.7 97.5 99.6 100.6 100.4

100.8 100.4 101.2 101.3 100.9 100.7

99.1 100.6 100.5 100.6 100.6 100.3

98.5 98.1 99.2 99.1 100.8 102.4

96.7 97.6 99.8 99.7 100.4 101.5

101.7 100.7 101.2 99.7 99.7 99.5

July ...................... August ................. September .......... October ............... November ........... December ...........

101.8 100.7 99.6 99.2 98.7 100.7

101.1 101.0 102.0 102.3 102.5 102.5

100.7 100.4 100.4 99.7 99.6 99.2

99.2 99.8 99.6 99.7 98.8 99.1

100.8 100.6 100.4 99.4 100.0 99.7

102.1 99.9 101.5 98.8 99.9 97.8

101.0 101.4 101.8 101.4 101.5 99.9

100.1 100.2 99.5 99.2 98.1 97.6

100.3 99.6 99.6 96.9 100.8 100.9

102.2 100.9 100.8 99.5 99.6 99.1

101.4 101.1 101.0 100.7 100.2 99.9

99.6 100.0 100.6 99.8 98.8 98.6

2003 January ............... February .............. March .................. April ..................... May ..................... June ....................

98.4 98.0 97.3 95.3 97.1 98.1

102.0 101.4 101.6 100.7 100.9 102.5

99.1 99.4 99.8 99.1 98.4 98.3

98.5 100.0 101.2 101.2 100.3 100.4

97.1 98.1 98.3 97.9 95.7 95.2

97.1 95.3 95.2 94.2 93.8 92.2

99.4 96.9 98.3 96.0 95.8 95.6

97.0 96.9 97.4 95.6 95.8 95.6

99.2 98.3 99.6 96.6 98.5 95.6

100.3 100.6 100.0 100.0 98.2 98.9

99.7 99.8 99.9 98.4 99.2 98.5

98.6 98.7 99.5 96.7 96.6 98.4

July ...................... August ................. September .......... October ............... November ........... December ...........

99.1 98.4 98.8 99.4 100.4 99.7

102.3 101.4 101.8 102.1 104.0 103.0

98.4 98.2 98.6 98.6 99.3 99.2

100.6 100.3 100.8 100.5 101.1 100.9

93.9 93.8 93.6 94.8 96.4 95.3

91.6 88.2 88.6 89.5 89.9 89.2

95.1 94.5 94.7 93.9 94.8 95.7

95.4 94.8 95.1 95.6 95.4 94.8

96.1 97.6 98.9 99.4 99.6 100.6

99.2 99.2 99.6 99.4 100.3 100.6

98.5 98.9 99.3 99.7 100.8 99.7

96.8 95.8 94.9 95.8 96.6 96.1

2004 January ............... February .............. March .................. April ..................... May ..................... June ....................

100.1 99.5 100.2 101.7 103.0 101.9

103.9 104.0 103.7 104.9 105.9 105.1

99.3 99.8 100.0 100.8 101.8 100.8

100.8 102.2 101.7 102.6 104.2 101.8

97.4 94.1 91.6 92.5 93.2 92.3

89.4 89.8 90.4 90.9 90.0 89.0

95.5 95.9 95.7 97.5 98.4 98.5

95.2 95.4 94.9 95.3 95.9 96.2

100.3 100.3 102.5 101.7 102.8 103.8

100.5 100.8 101.5 102.5 102.9 102.3

100.1 100.9 101.0 102.3 103.6 103.5

95.5 97.6 97.5 98.6 99.2 98.2

July ...................... August ................. September .......... October ............... November ........... December ...........

101.6 102.0 101.1 101.5 102.0 102.7

105.9 106.0 105.2 106.6 107.0 107.5

101.3 101.6 101.1 101.8 101.8 101.9

101.8 102.6 102.2 102.4 102.6 102.6

94.5 93.3 92.4 93.6 91.4 90.5

86.7 85.4 86.9 87.2 88.2 87.4

99.5 98.6 98.7 99.2 99.1 99.0

96.7 96.6 95.6 96.2 96.8 97.2

105.4 105.8 103.1 104.7 106.4 107.2

103.1 103.8 103.4 104.4 104.1 104.5

103.5 103.0 102.3 103.6 102.8 103.3

99.0 101.1 99.3 99.0 99.1 101.1

. . . = Not available.

42

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 2-2. Industrial Production Indexes by NAICS Industry Groups—Continued (Seasonally adjusted, 2002 = 100.) Utilities Year and month

Mining Total

1967 ............................. 1968 ............................. 1969 .............................

Electric

Natural gas

Excluding selected high-tech industries

Selected high-tech industries

Stage-of-process groups Primary and semi-finished

Crude

Finished

... ... ...

... ... ...

... ... ...

... ... ...

0.3 0.3 0.3

53.9 56.8 59.3

71.8 77.6 83.0

... ... ...

... ... ...

1970 1971 1972 1973 1974

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

... ... 106.8 107.4 105.8

... ... 50.3 53.2 53.0

... ... 40.9 44.6 44.8

... ... 110.2 105.8 102.3

0.3 0.3 0.4 0.4 0.5

57.2 58.3 63.6 68.6 67.9

85.0 86.2 93.4 97.2 98.7

... ... 44.8 48.9 48.3

... ... 39.1 42.2 42.4

1975 1976 1977 1978 1979

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

103.3 104.0 106.4 109.8 113.1

54.0 56.4 58.7 60.2 61.6

46.8 49.7 52.9 54.6 55.8

95.6 94.6 91.4 92.2 94.6

0.5 0.6 0.8 1.0 1.3

61.9 66.5 71.0 74.4 76.0

91.4 95.5 100.2 102.8 105.5

42.8 46.7 50.4 52.8 54.0

39.9 42.7 46.4 49.9 52.1

1980 1981 1982 1983 1984

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

115.1 118.1 112.3 106.4 113.3

62.0 62.9 60.9 61.4 65.0

56.7 58.2 56.8 58.5 61.8

92.6 90.5 85.0 79.6 84.5

1.5 1.8 2.1 2.5 3.3

73.3 73.7 69.3 70.6 76.1

106.2 108.9 102.8 99.8 106.7

50.5 50.5 46.4 48.7 53.5

52.7 54.0 53.5 55.0 60.0

1985 1986 1987 1988 1989

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

111.1 103.0 103.9 106.5 105.3

66.4 67.0 70.1 74.1 76.4

64.1 65.4 68.5 72.4 74.6

81.0 77.0 80.6 85.5 88.6

3.5 3.6 4.3 5.0 5.3

76.9 77.6 80.9 84.4 84.9

104.5 99.2 102.4 105.8 105.9

54.0 55.0 58.2 61.3 61.7

61.9 63.5 66.4 69.9 70.8

1990 1991 1992 1993 1994

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

106.9 104.6 102.2 102.2 104.6

77.9 79.8 79.7 82.6 84.2

76.7 78.5 78.1 80.9 82.7

85.6 87.9 90.4 93.8 94.4

6.0 6.4 7.7 9.1 11.8

85.2 83.5 85.1 87.2 90.7

107.5 104.7 103.8 102.5 104.7

61.8 60.9 63.4 66.4 71.0

72.0 71.1 72.8 74.9 78.1

1995 1996 1997 1998 1999

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

104.4 106.2 108.0 106.4 101.2

87.2 89.7 89.7 92.0 94.7

85.7 87.9 88.2 91.8 94.5

96.9 101.5 99.5 93.1 95.7

16.6 23.3 34.6 48.4 70.5

92.9 94.5 98.5 101.5 102.8

105.2 104.9 107.6 105.8 104.2

75.2 79.2 85.6 91.3 97.7

81.7 84.9 91.4 97.5 100.2

2000 2001 2002 2003 2004

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

103.5 104.5 100.0 99.8 99.5

97.4 97.0 100.0 102.0 103.1

97.2 96.9 100.0 102.1 104.1

98.6 97.2 100.0 101.2 98.2

100.8 102.6 100.0 117.6 141.2

103.9 99.7 100.0 99.7 102.9

104.2 101.4 100.0 98.7 99.7

103.2 98.6 100.0 100.5 105.1

103.8 101.1 100.0 101.2 105.6

2002 January .................... February ................... March ....................... April .......................... May .......................... June .........................

101.5 101.0 99.9 99.8 100.7 100.7

95.6 95.6 98.2 101.2 100.3 101.1

96.5 96.2 98.4 101.2 99.9 101.0

90.2 92.3 97.2 101.6 103.6 101.6

97.7 97.2 97.7 98.1 97.9 99.4

98.6 98.5 99.4 99.8 100.2 101.1

100.2 100.0 99.4 100.2 101.3 101.0

97.1 97.4 98.8 100.0 100.2 101.1

100.1 99.3 99.9 99.3 99.6 100.9

July ........................... August ...................... September ................ October .................... November ................. December .................

100.0 100.1 98.4 98.1 99.5 100.2

101.8 100.1 101.1 102.3 101.9 100.7

102.0 100.4 101.7 102.0 100.7 100.0

99.9 98.2 97.6 104.2 109.0 104.7

98.9 100.8 101.4 101.6 103.7 105.6

100.8 100.7 100.6 100.2 100.3 99.7

100.8 100.4 99.0 98.6 99.3 99.9

100.9 101.1 101.3 101.0 101.0 100.1

100.3 100.3 100.3 99.7 100.3 100.0

2003 January .................... February ................... March ....................... April .......................... May .......................... June .........................

99.7 100.1 100.0 99.8 99.2 99.6

102.8 104.5 101.2 100.7 101.2 99.1

102.8 103.5 101.1 100.8 101.2 98.9

102.7 109.7 101.8 100.1 101.4 99.8

107.4 110.9 112.6 112.9 114.1 115.7

100.1 99.9 99.7 98.8 98.7 98.9

99.3 99.6 99.7 99.0 98.1 98.4

100.9 100.8 100.2 99.1 99.6 99.3

100.4 100.4 100.8 100.3 99.8 100.7

July ........................... August ...................... September ................ October .................... November ................. December .................

99.1 99.6 100.7 100.4 99.6 99.4

102.0 103.2 101.6 101.8 101.9 103.5

102.3 103.9 101.9 102.0 102.5 104.0

100.1 99.4 99.7 100.1 98.8 101.4

118.3 120.7 122.1 124.3 125.4 127.0

99.3 99.2 99.9 99.9 100.8 100.9

97.9 98.1 98.9 98.7 98.2 98.0

99.9 100.2 100.4 101.2 102.1 102.7

101.3 101.1 102.2 101.7 103.0 102.8

2004 January .................... February ................... March ....................... April .......................... May .......................... June .........................

101.0 99.8 100.0 99.7 99.8 99.4

104.2 105.4 101.0 102.0 104.4 103.8

104.4 105.0 102.5 103.1 105.9 105.4

103.4 107.8 93.3 96.2 96.3 96.0

130.4 133.6 135.0 135.5 138.3 140.4

101.2 102.0 101.6 102.4 103.3 102.6

99.2 98.7 99.3 99.6 100.0 99.9

102.9 104.0 103.3 104.0 105.4 105.2

103.3 104.2 104.2 105.1 105.8 104.5

July ........................... August ...................... September ................ October .................... November ................. December .................

100.3 99.3 97.2 97.9 99.9 100.4

102.2 100.4 103.1 102.8 103.0 105.2

103.0 100.8 104.1 104.4 104.1 106.2

97.8 98.5 97.9 94.6 97.1 99.8

142.4 145.7 147.6 147.0 147.8 151.0

103.1 103.3 103.0 103.8 104.0 104.6

100.7 100.0 98.6 99.2 100.8 101.1

105.5 105.7 105.8 106.2 106.2 107.2

105.6 106.2 105.9 107.2 107.3 107.7

. . . = Not available.

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

43

Table 2-3. Capacity Utilization by NAICS Industry Groups (Output as a percentage of capacity, seasonally adjusted.) Manufacturing (NAICS) Durable goods manufacturing Year and month

Total industry

Total manufacturing (SIC)

Total Total

Wood products

Nometallic mineral products

Primary metals

Fabricated metal products

Machinery

Electrical Computer equipment, and appliances, electronic and products components

Motor vehicles and parts

Aircraft and miscellaneous transportation equipment

1967 ................................. 1968 ................................. 1969 .................................

87.0 87.3 87.4

87.2 87.1 86.6

... ... ...

87.5 87.3 86.9

... ... ...

75.7 78.4 79.7

85.0 84.8 88.2

86.4 87.3 86.2

90.4 85.1 86.8

... ... ...

... ... ...

78.9 90.0 86.5

94.1 89.2 83.6

1970 1971 1972 1973 1974

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

81.2 79.6 84.6 88.4 85.2

79.4 77.9 83.3 87.6 84.4

... ... 83.2 87.7 84.5

77.5 75.1 81.8 88.5 84.7

... ... 92.2 87.7 77.9

73.9 75.6 79.7 84.4 82.3

79.3 72.8 82.7 94.6 96.5

78.5 78.5 85.1 91.0 85.9

79.9 74.0 83.1 92.3 91.9

... ... 81.0 85.1 83.1

... ... 89.8 97.7 91.5

66.1 78.6 84.1 91.7 76.6

71.4 62.2 64.0 72.9 74.2

1975 1976 1977 1978 1979

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

75.6 79.6 83.1 84.8 85.0

73.5 78.1 82.2 84.3 84.2

73.4 78.1 82.2 84.3 84.1

71.6 76.2 80.9 83.9 84.5

71.1 80.4 86.4 85.3 80.6

73.3 77.8 82.4 85.9 83.9

75.0 78.5 79.1 84.2 86.0

71.9 75.4 79.6 80.6 81.6

77.7 79.7 84.9 88.7 90.9

68.4 71.2 77.4 81.6 86.0

70.6 78.9 85.6 87.9 89.3

65.6 81.9 90.0 90.7 81.1

70.4 65.5 65.5 71.5 81.3

1980 1981 1982 1983 1984

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

80.7 79.7 73.7 74.7 80.4

78.7 77.1 71.0 73.4 79.4

78.4 76.7 70.5 72.9 79.0

77.6 75.3 66.6 68.4 76.7

73.1 70.9 63.3 74.0 78.9

74.5 71.1 63.4 69.3 75.3

76.1 77.2 55.3 59.0 69.2

75.5 73.5 65.4 66.4 73.3

84.4 81.4 67.2 61.1 71.8

86.0 83.9 80.7 80.1 87.1

82.3 79.3 69.8 72.7 82.1

59.1 57.3 51.4 67.4 81.3

84.6 77.6 70.0 66.4 69.2

1985 1986 1987 1988 1989

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

79.4 78.6 81.2 84.2 83.6

78.3 78.3 81.0 84.0 83.1

77.8 77.9 80.5 83.8 83.0

75.8 75.3 77.6 82.0 81.4

78.2 83.1 87.8 86.4 84.1

75.6 78.2 81.5 83.3 82.2

67.1 69.5 79.5 90.2 86.5

74.0 73.7 75.3 79.9 79.7

71.5 70.8 72.3 80.4 83.6

81.0 77.5 79.5 80.8 78.3

78.8 79.9 82.0 86.8 85.9

83.1 78.2 77.2 82.3 79.2

71.8 73.4 74.9 79.4 84.9

1990 1991 1992 1993 1994

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

82.4 79.6 80.4 81.4 83.6

81.6 78.3 79.6 80.4 82.8

81.4 78.2 79.5 80.3 82.8

79.1 75.0 77.1 78.8 82.1

82.1 76.8 81.1 81.5 84.2

80.0 73.6 77.2 78.7 82.3

84.2 78.9 81.6 86.2 91.7

77.6 74.0 76.3 77.2 81.6

80.9 76.0 75.4 79.2 84.3

78.4 76.8 78.7 78.0 80.3

83.6 78.9 82.1 86.6 91.9

70.6 63.6 72.4 78.6 87.2

85.7 83.5 77.4 73.0 66.7

1995 1996 1997 1998 1999

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

83.9 83.0 83.9 82.7 81.9

83.0 81.8 83.0 81.7 80.8

83.0 81.8 82.8 81.4 80.5

82.4 81.4 82.5 80.9 80.5

83.1 82.8 82.3 83.5 83.3

83.3 86.9 86.5 86.6 83.6

89.4 88.0 87.6 85.5 83.4

83.7 83.3 82.2 80.2 77.9

85.8 83.7 82.7 80.3 76.8

82.9 80.2 82.8 77.8 80.3

91.5 90.4 88.7 86.5 84.5

83.4 80.8 82.5 79.5 85.5

64.3 67.1 74.1 83.6 77.9

2000 2001 2002 2003 2004

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

81.8 76.3 75.1 75.7 78.6

80.3 74.1 73.3 73.7 77.1

79.9 73.6 72.9 73.3 76.8

80.3 71.7 70.0 70.7 75.0

79.2 72.6 75.0 75.3 80.5

81.3 77.2 77.7 78.2 81.7

80.2 73.9 77.3 77.0 83.4

78.8 72.4 70.3 69.4 72.8

78.9 69.3 66.8 67.2 76.3

84.7 69.2 60.5 64.7 71.2

86.9 77.1 73.4 74.6 79.1

83.4 74.0 79.6 79.5 79.8

66.5 69.2 64.4 61.8 63.8

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

74.3 74.1 74.7 74.9 75.2 75.8

72.5 72.3 72.9 73.0 73.3 74.0

71.9 71.8 72.4 72.5 72.9 73.6

68.7 68.7 69.3 69.6 69.9 70.6

74.3 74.1 75.6 75.4 75.5 76.3

76.8 77.2 77.3 77.7 77.3 78.2

74.0 74.2 76.0 76.4 77.7 78.9

68.9 69.3 69.9 70.1 70.5 71.1

64.7 64.9 65.6 66.2 66.9 67.4

61.4 60.6 60.4 59.9 59.7 60.4

71.7 71.8 73.5 73.5 74.3 74.5

75.7 76.1 76.8 79.3 79.5 81.1

67.4 66.7 66.0 64.8 64.1 63.8

July .............................. August .......................... September ................... October ........................ November .................... December ....................

75.6 75.6 75.6 75.3 75.5 75.2

73.7 73.9 73.9 73.4 73.6 73.3

73.3 73.5 73.4 72.9 73.2 72.8

70.3 70.8 70.6 70.2 70.6 70.1

75.4 75.6 75.0 75.2 74.1 73.9

77.7 77.9 78.6 78.3 77.7 77.2

77.0 80.1 78.8 78.8 79.6 76.2

70.7 70.9 70.9 70.7 70.3 70.4

67.2 68.3 68.2 68.0 67.7 66.8

59.8 60.4 60.5 60.0 60.9 61.7

73.4 73.3 72.8 73.2 74.1 74.6

82.2 82.1 81.6 79.7 82.3 79.2

63.6 63.5 63.5 63.5 62.7 62.9

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

75.5 75.6 75.4 74.9 74.9 75.1

73.5 73.4 73.5 72.9 72.8 73.2

73.1 72.9 73.0 72.4 72.4 72.7

70.6 70.1 69.9 69.3 69.5 70.1

74.2 74.0 73.1 73.3 73.6 74.1

77.5 76.6 77.7 76.6 78.5 78.5

78.8 77.3 73.7 74.8 74.5 77.6

70.2 69.5 69.3 68.6 69.0 69.0

66.2 66.5 66.8 65.9 66.1 66.1

62.5 63.2 63.5 63.0 63.4 63.8

73.4 74.2 73.9 73.4 74.4 75.1

82.3 79.4 78.7 77.7 76.9 78.0

62.2 61.8 61.8 61.6 61.4 61.3

July .............................. August .......................... September ................... October ........................ November .................... December ....................

75.4 75.5 76.0 76.1 76.8 76.9

73.4 73.4 74.0 74.1 75.0 75.1

73.0 72.9 73.7 73.7 74.6 74.7

70.4 70.4 71.4 71.5 72.5 72.7

75.5 75.1 75.7 77.0 79.6 78.8

78.3 78.9 78.2 79.2 79.8 79.3

75.3 75.6 74.7 78.2 80.5 83.2

69.0 68.7 69.2 69.6 70.1 70.3

66.0 67.0 67.7 67.2 70.1 70.8

64.5 65.5 66.0 66.7 67.0 67.2

73.5 75.1 74.4 75.5 76.0 75.8

80.1 77.7 82.7 79.9 80.4 80.5

61.6 61.7 61.6 61.8 62.6 62.5

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

77.2 77.8 77.6 78.1 78.8 78.4

75.3 76.0 76.1 76.7 77.3 76.9

74.9 75.6 75.7 76.3 76.9 76.5

73.0 73.8 73.9 74.4 74.9 74.7

79.1 79.6 79.3 80.7 81.6 80.1

80.1 79.6 81.5 81.6 81.7 81.1

78.8 81.1 81.6 81.8 83.2 83.4

70.9 71.3 71.1 72.1 72.9 73.0

71.4 73.8 74.3 75.2 76.3 76.6

68.0 69.1 69.6 69.5 70.7 71.3

76.6 76.8 76.5 78.0 78.6 79.1

81.3 81.3 80.6 80.7 79.4 77.5

62.2 63.1 62.8 63.2 63.2 63.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

78.8 79.0 78.7 79.2 79.3 79.7

77.4 77.9 77.5 78.1 78.0 78.3

77.1 77.5 77.2 77.8 77.7 77.9

75.4 75.9 75.6 76.3 76.1 76.4

81.5 81.0 79.6 81.3 80.8 80.9

82.2 82.6 82.8 82.6 81.7 82.9

85.9 84.6 85.1 85.1 85.6 84.4

73.4 73.6 73.3 74.0 73.8 73.9

78.4 77.3 78.0 78.4 78.3 78.3

72.0 72.9 73.3 72.8 72.5 73.3

79.7 80.2 80.4 80.8 81.2 81.3

77.1 79.9 78.4 80.7 80.2 80.6

64.2 64.1 63.8 64.5 65.3 65.7

. . . = Not available.

44

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 2-3. Capacity Utilization by NAICS Industry Groups—Continued (Output as a percentage of capacity, seasonally adjusted.) Manufacturing (NAICS)—Continued

Year and month

Durable goods manufacturing —Continued Furniture and related products

Nondurable goods manufacturing

Miscellaneous manufacturing

Total

Food, and beverage, Textile product and tobacco mills products

Apparel and leather

Paper

Printing and support

Petroleum and coal products

Chemical

Plastics and rubber products

Other manufacturing (nonNAICS)

1967 ................................. 1968 ................................. 1969 .................................

91.9 91.5 93.0

... ... ...

86.3 86.5 86.2

85.0 84.8 85.1

... ... ...

... ... ...

89.7 89.3 91.0

... ... ...

94.9 95.8 96.4

78.9 80.1 79.1

88.3 91.2 90.4

... ... ...

1970 1971 1972 1973 1974

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

84.5 85.5 94.2 95.4 82.3

... ... 80.4 79.3 74.4

82.2 81.9 85.3 86.6 84.2

84.1 84.0 85.1 84.8 83.8

... ... 89.3 86.2 76.0

... ... 81.8 82.0 76.2

86.1 86.8 91.4 94.9 95.1

... ... 92.4 94.0 88.1

96.8 95.7 93.6 90.4 92.8

76.1 75.4 80.2 83.9 84.3

79.5 80.1 88.8 92.5 84.2

... ... 85.7 84.7 82.7

1975 1976 1977 1978 1979

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

68.0 75.6 83.9 85.1 79.5

67.9 72.4 77.5 79.1 78.9

76.0 80.9 84.1 84.9 83.6

80.1 83.3 82.8 83.5 81.3

72.1 80.6 88.1 87.8 87.5

74.5 77.7 81.8 84.1 79.0

80.8 87.6 90.1 92.2 91.0

79.6 82.2 86.0 87.4 86.0

83.6 86.0 87.7 86.4 89.8

71.7 77.5 80.8 81.7 81.6

70.0 77.2 88.5 88.4 83.4

77.2 77.4 83.4 85.1 85.3

1980 1981 1982 1983 1984

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

74.0 71.7 66.9 73.1 80.1

74.4 75.9 73.6 70.5 75.6

79.4 78.8 76.7 79.8 82.4

81.2 80.9 81.9 81.3 81.6

83.4 80.7 74.6 83.9 85.5

80.5 79.9 79.7 83.6 83.8

88.2 86.8 84.0 88.2 90.7

83.8 81.2 82.3 84.7 87.7

76.7 73.5 73.6 77.8 81.6

75.6 75.4 69.0 73.0 76.1

73.1 76.3 72.9 79.9 90.0

87.3 87.7 86.8 87.4 89.6

1985 1986 1987 1988 1989

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

77.9 79.8 83.3 80.4 78.5

74.1 73.5 76.9 81.6 79.6

80.8 81.8 84.8 86.3 85.2

82.9 82.8 83.6 85.0 83.5

81.4 83.6 91.1 88.7 88.3

80.0 81.2 82.8 82.8 80.9

87.2 89.2 90.4 92.1 91.2

86.1 86.4 89.6 90.2 88.4

81.9 81.6 84.4 87.1 86.8

73.6 75.9 81.1 84.3 83.8

86.1 84.6 89.1 88.8 86.4

90.5 88.8 90.7 88.5 85.4

1990 1991 1992 1993 1994

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

75.5 70.5 77.3 80.2 81.8

79.9 78.3 77.2 78.3 78.6

84.4 82.3 82.5 82.2 83.8

84.3 83.2 82.2 80.4 82.2

83.3 81.5 85.5 87.7 89.7

79.5 81.2 83.6 84.9 86.1

89.2 87.2 87.5 87.0 88.8

89.1 84.2 86.0 85.0 85.3

86.7 84.4 85.0 86.8 88.7

83.3 81.0 79.8 78.9 79.5

82.9 77.9 81.2 85.6 90.4

83.9 81.6 80.8 82.5 82.2

1995 1996 1997 1998 1999

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

81.5 79.9 83.6 83.7 81.4

80.4 81.4 79.4 79.8 76.4

83.9 82.4 83.3 82.1 80.5

83.1 81.3 81.8 82.7 79.2

86.4 83.4 85.7 83.0 81.7

85.6 83.4 82.2 77.8 76.7

88.8 84.3 85.1 85.8 86.5

84.9 84.0 82.8 80.7 79.4

89.3 90.6 92.2 86.9 88.2

79.7 79.2 81.2 79.1 77.5

88.8 87.6 88.2 86.7 86.2

82.1 80.9 85.1 86.8 86.9

2000 2001 2002 2003 2004

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

78.8 71.5 73.9 72.4 74.9

76.4 72.3 73.9 74.2 76.0

79.4 76.2 76.9 76.7 79.1

78.8 77.9 77.5 78.0 79.2

79.8 72.8 74.0 73.6 74.8

75.9 68.4 63.5 65.7 70.6

84.8 80.9 83.5 81.8 84.4

79.6 75.9 73.2 71.4 73.5

87.5 86.4 87.0 86.6 91.5

76.3 72.6 75.3 74.3 76.4

82.5 76.5 78.6 79.7 84.1

87.5 82.7 81.9 82.1 84.4

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

72.3 73.1 74.3 75.0 75.3 74.9

71.3 72.1 72.8 73.2 73.8 75.1

76.3 76.1 76.8 76.6 77.1 77.8

78.5 77.7 78.5 77.5 77.2 78.0

71.1 71.6 73.1 74.0 74.3 75.6

61.3 60.7 60.7 60.4 62.0 64.3

80.5 80.9 80.9 82.8 83.8 83.8

73.1 72.9 73.6 73.9 73.7 73.7

87.2 88.2 87.8 87.6 87.4 87.0

74.8 74.4 75.1 74.9 76.1 77.2

75.8 76.6 78.2 78.2 78.8 79.7

82.4 81.7 82.3 81.2 81.3 81.4

July .............................. August .......................... September ................... October ........................ November .................... December ....................

75.0 74.1 73.3 72.9 72.5 73.9

74.6 74.3 74.9 75.0 75.0 74.9

77.4 77.2 77.2 76.7 76.7 76.5

76.9 77.3 77.2 77.3 76.7 76.9

74.7 74.8 74.8 74.2 74.9 74.9

65.2 64.4 66.1 65.1 66.5 65.7

84.4 84.9 85.4 85.1 85.4 84.2

73.3 73.5 73.2 73.0 72.3 72.1

86.9 86.3 86.3 84.1 87.6 87.8

76.9 75.8 75.7 74.6 74.6 74.1

79.6 79.4 79.4 79.3 79.0 78.9

81.7 82.1 82.9 82.5 81.9 82.0

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

72.2 71.9 71.5 70.0 71.4 72.2

74.5 73.9 74.0 73.3 73.5 74.5

76.4 76.7 77.2 76.7 76.2 76.2

76.5 77.7 78.6 78.6 77.9 78.0

73.2 74.2 74.5 74.5 73.1 73.0

65.9 65.3 65.8 65.7 66.1 65.6

83.9 82.0 83.3 81.5 81.6 81.5

71.7 71.7 72.2 71.0 71.2 71.2

86.6 86.0 87.3 84.9 86.7 84.3

75.0 75.1 74.7 74.6 73.2 73.7

78.9 79.1 79.4 78.4 79.3 78.9

82.2 82.5 83.5 81.4 81.6 83.3

July .............................. August .......................... September ................... October ........................ November .................... December ....................

73.0 72.5 72.9 73.4 74.2 73.7

74.4 73.7 73.9 74.1 75.5 74.7

76.4 76.3 76.7 76.7 77.4 77.4

78.1 77.9 78.3 78.0 78.5 78.2

72.2 72.4 72.5 73.7 75.3 74.7

65.7 63.9 64.8 66.0 67.0 67.1

81.2 80.8 81.1 80.5 81.4 82.2

71.2 70.8 71.2 71.7 71.7 71.4

84.9 86.3 87.5 88.0 88.2 89.1

73.9 73.8 74.1 73.9 74.6 74.8

79.2 79.7 80.2 80.8 81.8 81.1

82.1 81.5 80.8 81.7 82.5 82.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

74.0 73.6 74.1 75.2 76.1 75.3

75.3 75.3 75.1 75.9 76.5 75.9

77.5 78.0 78.1 78.8 79.7 78.9

78.1 79.2 78.8 79.5 80.8 78.8

76.6 74.4 72.7 73.7 74.6 74.1

67.8 68.8 69.9 70.9 70.9 70.7

82.2 82.5 82.4 84.0 84.8 84.9

71.9 72.2 72.1 72.5 73.2 73.6

88.8 88.8 90.6 89.8 90.8 91.6

74.7 74.9 75.5 76.2 76.5 76.0

81.7 82.4 82.6 83.8 85.0 84.9

81.7 83.6 83.5 84.4 84.9 84.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

75.0 75.2 74.5 74.8 75.1 75.5

76.3 76.3 75.6 76.5 76.7 76.9

79.4 79.6 79.2 79.8 79.8 80.0

78.9 79.5 79.2 79.3 79.4 79.4

76.2 75.5 75.0 76.2 74.7 74.2

69.6 69.2 71.0 72.0 73.4 73.5

85.8 85.0 85.1 85.6 85.5 85.3

74.2 74.3 73.7 74.3 75.0 75.4

93.0 93.3 90.9 92.2 93.6 94.3

76.5 77.1 76.7 77.5 77.2 77.4

85.0 84.6 84.1 85.2 84.6 85.1

84.6 86.3 84.7 84.3 84.4 86.0

. . . = Not available.

45

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Table 2-3. Capacity Utilization by NAICS Industry Groups— Continued (Output as a percentage of capacity, seasonally adjusted.) Selected high-technology industries Year and month

Mining

Utilities Total

Computers and office equipment

Measures excluding selected high-technology Semiconducindustries Communicators and tions related Manufacequipment electronic Total industry turing components

Stage-of-process groups

Crude

Primary and semi-finished

Finished

1967 ................................. 1968 ................................. 1969 .................................

81.2 83.6 86.8

94.5 95.1 96.8

89.4 87.6 89.5

... ... ...

... ... ...

... ... ...

86.9 87.2 87.1

86.8 87.0 86.4

81.1 83.4 85.7

85.0 86.8 88.1

88.2 87.0 85.4

1970 1971 1972 1973 1974

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

89.3 88.0 90.9 92.0 91.1

96.3 94.7 95.2 94.3 87.4

83.1 73.9 79.0 81.7 82.0

... ... 84.5 81.9 88.3

... ... 72.5 75.3 73.5

... ... 85.1 91.6 87.7

80.9 79.9 84.8 88.6 85.3

79.2 78.2 83.5 87.9 84.5

85.2 84.4 88.6 90.6 91.3

81.5 81.6 88.1 92.2 87.4

77.9 75.3 79.4 83.0 80.2

1975 1976 1977 1978 1979

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

89.2 89.7 89.7 89.8 91.1

84.5 85.2 85.3 84.2 85.5

64.7 67.8 75.4 80.9 86.0

69.1 73.6 74.3 82.3 81.5

62.0 61.8 72.9 77.0 87.7

63.7 70.0 79.8 83.6 90.3

76.0 80.0 83.4 85.0 84.9

73.9 78.6 82.6 84.5 84.1

83.9 87.1 89.0 88.3 89.3

75.1 80.0 84.3 85.9 85.8

73.5 76.4 79.5 82.1 82.0

1980 1981 1982 1983 1984

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

91.5 91.4 83.7 78.5 84.7

85.1 84.3 80.4 79.7 82.9

86.0 85.1 78.3 78.4 87.6

84.4 86.3 70.5 74.7 86.0

89.9 87.3 87.2 80.4 86.0

84.2 81.7 81.3 80.9 90.4

80.5 79.5 73.5 74.5 80.0

78.3 76.6 70.6 73.0 78.8

89.1 89.5 82.0 78.7 84.9

78.6 77.1 70.4 74.2 81.1

79.6 78.0 73.6 73.4 77.6

1985 1986 1987 1988 1989

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

83.3 76.5 79.6 83.6 84.9

83.1 82.3 83.9 86.1 86.6

78.8 73.4 77.1 79.3 77.6

78.2 73.9 74.8 77.2 74.7

82.7 76.8 77.5 79.7 78.1

76.3 70.5 79.3 81.1 79.7

79.4 78.9 81.4 84.5 84.0

78.3 78.7 81.3 84.4 83.6

83.1 78.4 82.7 86.5 87.2

79.9 79.9 83.0 86.0 84.9

77.1 77.1 78.5 81.3 81.0

1990 1991 1992 1993 1994

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

86.9 84.9 84.4 85.8 87.6

86.0 86.8 85.2 87.7 88.8

77.1 75.9 80.1 80.3 83.4

70.9 71.9 80.4 80.1 81.4

80.6 74.4 79.3 78.5 82.8

80.8 79.8 79.9 81.2 84.7

82.7 79.8 80.4 81.5 83.6

81.9 78.5 79.5 80.4 82.8

88.2 85.3 85.2 85.3 87.4

82.6 79.7 81.3 83.6 86.7

80.3 77.9 78.1 78.0 79.1

1995 1996 1997 1998 1999

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

87.9 90.3 91.3 89.1 86.3

89.9 90.4 89.1 91.1 92.4

85.0 81.3 85.0 78.9 83.7

81.3 80.6 86.0 81.6 84.2

79.7 76.7 79.5 79.9 84.5

89.2 84.1 87.9 76.9 83.0

83.8 83.2 83.8 83.1 81.8

82.8 81.8 82.7 81.9 80.5

88.5 88.2 89.7 87.0 86.6

86.7 85.6 85.8 83.9 84.1

79.4 78.7 80.2 80.4 78.5

2000 2001 2002 2003 2004

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

90.9 90.9 86.7 88.0 88.1

92.2 88.7 87.5 86.2 84.7

89.5 68.9 58.2 63.0 71.3

77.7 68.1 68.7 76.4 76.5

91.3 69.9 44.9 45.2 53.7

94.5 69.0 62.1 69.7 79.8

81.2 76.9 76.5 76.5 79.0

79.4 74.6 74.7 74.6 77.6

88.4 85.6 84.0 84.9 86.8

84.4 77.5 77.1 77.4 80.6

77.3 72.8 71.2 71.7 74.3

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

87.5 87.1 86.1 86.2 87.0 87.2

85.4 85.1 87.0 89.4 88.2 88.5

59.1 58.2 58.1 57.9 57.5 58.0

71.6 71.3 69.8 67.8 66.2 65.8

49.6 48.6 48.3 47.1 45.4 45.7

59.6 58.6 59.2 60.4 61.3 62.5

75.6 75.4 76.1 76.3 76.6 77.3

73.8 73.7 74.3 74.4 74.8 75.5

83.8 83.6 83.2 83.8 84.8 84.6

75.1 75.3 76.3 77.1 77.3 77.9

71.5 70.9 71.3 70.8 71.0 71.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

86.7 87.0 85.6 85.6 87.0 87.9

88.8 87.1 87.7 88.4 87.8 86.5

57.4 58.1 58.1 57.8 58.6 59.3

66.3 67.0 67.7 68.6 70.2 72.5

42.9 43.1 42.3 41.1 42.6 42.8

62.8 64.0 64.2 64.1 64.2 64.6

77.0 77.0 76.9 76.6 76.8 76.3

75.2 75.3 75.3 74.8 74.9 74.5

84.6 84.4 83.5 83.3 84.1 84.8

77.7 77.8 78.0 77.8 77.7 77.1

71.4 71.4 71.4 70.9 71.3 71.1

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

87.6 88.0 88.1 88.0 87.6 88.0

88.1 89.3 86.3 85.6 85.9 83.8

59.8 61.3 61.7 61.4 61.6 62.1

74.9 76.4 76.5 75.9 75.8 77.0

41.4 43.9 44.9 44.5 44.5 45.3

65.8 66.7 67.1 67.1 67.6 67.5

76.7 76.6 76.4 75.8 75.8 76.0

74.7 74.4 74.5 73.9 73.8 74.2

84.6 85.0 85.3 84.9 84.3 84.7

77.7 77.7 77.1 76.4 76.7 76.5

71.3 71.3 71.5 71.1 70.8 71.4

July .............................. August .......................... September ................... October ........................ November .................... December ....................

87.6 88.0 89.0 88.7 88.0 87.8

86.1 86.9 85.3 85.3 85.2 86.3

63.1 64.0 64.4 65.3 65.6 66.2

78.6 79.0 77.7 75.5 74.3 74.9

44.8 46.0 46.0 47.0 46.8 47.5

69.5 70.3 71.6 73.4 74.5 74.9

76.3 76.3 76.8 76.8 77.5 77.6

74.3 74.1 74.8 74.8 75.7 75.8

84.4 84.6 85.4 85.3 84.9 84.9

77.0 77.2 77.4 78.0 78.7 79.1

71.7 71.6 72.3 71.9 72.8 72.6

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

89.2 88.2 88.3 88.1 88.2 87.9

86.7 87.4 83.6 84.1 85.9 85.3

67.7 69.1 69.7 69.6 70.8 71.5

76.8 78.2 78.3 77.4 76.3 75.7

49.3 50.2 50.2 50.3 51.3 52.6

76.1 77.6 78.5 78.5 80.4 81.1

77.8 78.4 78.1 78.7 79.3 78.8

75.9 76.5 76.6 77.2 77.8 77.3

85.9 85.6 86.1 86.5 86.9 86.9

79.3 80.0 79.5 80.0 81.0 80.8

72.9 73.5 73.4 74.1 74.5 73.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

88.8 88.0 86.2 86.9 88.7 89.3

83.7 82.1 84.2 83.8 83.9 85.6

72.2 73.4 73.7 72.8 72.5 73.2

75.6 75.6 75.8 76.0 76.3 76.6

54.0 55.0 55.8 57.2 58.8 59.9

81.5 83.0 83.1 80.3 78.7 79.2

79.2 79.3 79.0 79.6 79.7 80.2

77.8 78.2 77.8 78.5 78.5 78.8

87.7 87.2 86.0 86.6 88.2 88.5

80.9 81.0 81.0 81.2 81.0 81.7

74.2 74.7 74.3 75.2 75.2 75.5

. . . = Not available.

46

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

tion. The resulting indexes are shown annually for the full 31 years (37 for aggregate levels) in Tables 2-1 through 2-3.

NOTES AND DEFINITIONS TABLES 2-1 THROUGH 2-3 AND 20-1 INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION SOURCE: BOARD SYSTEM.

OF

GOVERNORS

OF THE

FEDERAL RESERVE

The industrial production index measures changes in the physical volume or quantity of output of manufacturing, mining, and electric and gas utilities. Capacity utilization is calculated by dividing a seasonally adjusted industrial production index for an industry or group of industries by a related index of productive capacity. Around the 15th day of each month, the Federal Reserve issues estimates of industrial production and capacity utilization for the previous month. The production estimates are in the form of index numbers (currently 2002 = 100) that reflect the monthly levels of total output of the nation’s factories, mines, and gas and electric utilities expressed as a percent of the monthly average in the 2002 base year. Capacity estimates are expressed as index numbers, 2002 output = 100 (not 2002 capacity), and capacity utilization is measured by the production index as a percent of the capacity index. Since the bases of those two indexes are the same for each industry, this procedure yields production as a percent of capacity. Monthly estimates are subject to revision in each of the three subsequent months, as well as to annual and comprehensive revisions in subsequent years. Monthly series are seasonally adjusted using the Census X-12 ARIMA program. Definitions and notes on the data The index of industrial production measures a large portion of the goods output of the national economy on a monthly basis. That portion, together with construction, has also accounted for the bulk of the variation in output over the course of many historical business cycles. The substantial industrial detail included in the index illuminates structural developments in the economy. The total industrial production index and indexes for its major components are constructed from individual industry series (300 series for data from 1997 forward) based on the 2002 North American Industry Classification System (NAICS). See Chapter 14 of this volume for a description of NAICS and a table outlining its structure. The Federal Reserve has been able to provide a much longer continuous historical series on the NAICS basis than other government agencies. In a major research effort, the Fed and the Census Bureau’s Center for Economic Studies re-coded data from seven Censuses of Manufactures, beginning in 1963, to establish benchmark NAICS data for output, value added, and capacity utiliza-

The Fed’s featured indexes for total industry and total manufacturing (SIC) do not observe the reclassifications under NAICS of the logging industry to the Agriculture sector and the publishing industry to the Information sector. (The reason cited by the Fed was to avoid “changing the scope or historical continuity” of these statistics. “Industrial Production and Capacity Utilization: The 2002 Historial and Annual Revision,” Federal Reserve Bulletin, April 2003, Federal Reserve Web site.) One advantage of the SIC index for capacity utilization is that it is a continuous series back to 1947 (shown in Table 201). Production and capacity utilization are also shown on the new NAICS basis back to 1967 in Tables 2-2 and 2-3. The individual series are grouped in two ways: market groups and industry groups. Market groups. For analyzing market trends and product flows, the individual series are grouped into two major divisions: final products and nonindustrial supplies, and materials. Final products are those purchased by consumers, businesses, or government for final use. Nonindustrial supplies are expected to become inputs in nonindustrial sectors: the two major subgroups are construction supplies and business supplies. Materials comprise industrial output requiring further processing within the industrial sector. This twofold division distinguishes between products that are ready to ship outside the industrial sector and those that will stay within the sector for further processing. Final products are divided into consumer goods and equipment, and equipment is divided into business equipment and defense and space equipment. Further subdivisions of each market group are based on type of product and the market destination for the product. Industry groups are typically groupings by 3-digit NAICS industries and major aggregates of these industries—for example, durable goods and nondurable goods manufacturing, mining, and utilities. Indexes are also calculated for stage-of-process industry groups—crude, primary and semifinished, and finished processing. The stage-of-process grouping was a new feature in the 2002 revision, replacing the narrower and less refined “primary processing manufacturing” and “advanced processing manufacturing” groups that were previously published. Crude processing consists of logging, much of mining, and certain basic manufacturing activities in the chemical, paper, and metals industries. Primary and semifinished processing represents industries producing materials and parts used as inputs by other industries. Finished processing includes industries producing goods in their finished form for use by consumers, business investments, or government. The indexes of industrial production are constructed with data from a variety of sources. Current monthly estimates

CHAPTER 2: INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION

47

of production are based on measures of physical output where possible and appropriate. For a few high-tech industries, the estimated value of nominal output is deflated by a corresponding price index. For industries in which such direct measurement is not possible on a monthly basis, output is inferred from production-worker hours, adjusted for trends in worker productivity derived from annual and benchmark revisions. (Between the 1960s and 1997, electric power consumption was used as a monthly output indicator for some industries instead of hours. The coverage of the survey declined, however, and in the 2005 revision, the decision was made to resume the use of hours in those industries, beginning with the data for 1997.)

Capacity utilization is calculated for the manufacturing, mining, and electric and gas utilities industries. Output is measured by seasonally adjusted indexes of industrial production. The capacity indexes attempt to capture the concept of sustainable maximum output, which is defined as the greatest level of output that a plant can maintain within the framework of a realistic work schedule, taking account of normal downtime and assuming sufficient availability of inputs to operate the machinery and equipment in place. The 85 individual industry capacity indexes are based on a variety of data, including capacity data measured in physical units compiled by government agencies and trade associations, Census Bureau surveys of utilization rates and investment, and estimates of growth of the capital stock.

In annual and benchmark revisions, the individual indexes are revised using data from the quinquennial Censuses of Manufactures and Mineral Industries and the Annual Survey of Manufactures and Survey of Plant Capacity, prepared by the Bureau of the Census; deflators from the Producer Price Indexes and other sources; the Minerals Yearbook, prepared by the Department of the Interior; Department of Energy publications; and other sources.

Revisions

The weights used in computing the indexes are based on Census value added—the difference between the value of production and the cost of materials and supplies consumed. (Census value added differs in some respects from the economic concept of industry value added used in the national income and product accounts (NIPAs). Industry value added as defined in the NIPAs is not available in sufficient detail for the industrial production indexes. See Chapter 15 for data and description of value added by industry.) Before 1972, a linked-Laspeyres formula is used. Beginning with 1972, the index uses a version of the Fisher-ideal index formula—a chain-weighting system similar to that in the NIPAs. See notes and definitions to Chapter 1. Chain-weighting keeps the index from being distorted by the use of obsolete relative prices.

A previous comprehensive revision in 1997 moved the reference year from 1987 to 1992 = 100 and introduced annual (instead of quinquennial) updating of the valueadded weights for each industry. In the January 2001 revision, recalculation of the value-added weights each month was introduced.

For the purpose of these value-added weights, value added per unit of output is based on data from the Censuses of Manufacturing and Mineral Industries, the Census Bureau’s Annual Survey of Manufactures, and revenue and expense data reported by the Department of Energy and the American Gas Association, projected into recent years by using changes in relevant Producer Price Indexes.

Revisions normally occur annually, late in the year, and incorporate additional source data that have become available. In November 2005, the latest annual revision was released, and its results are presented in this volume. In addition to the usual revisions of recent years, the indexes were all rebased from 1997 = 100 to 2002 = 100.

Data availability Data are available monthly in Federal Reserve release G.17. Selected data are subsequently published monthly in the Statistical Supplement to the Federal Reserve Bulletin. Historical data may be purchased on diskette from Publications Services, Board of Governors of the Federal Reserve System (full address shown below). Current and historical data and background information are available on the Federal Reserve Web site at . The total Industrial Production Index extends back to 1919. Chain-weighting makes it difficult for the user to analyze in detail the sources of aggregate output change. An “Explanatory Note” included in each month’s index release provides some assistance for the user, including a reference to a Web site location representing the exact contribution of a monthly change in a component index to the monthly change in the total index.

To separate seasonal movements from cyclical patterns and underlying trends, each component of the index is seasonally adjusted by the Census X-12 ARIMA method.

References

The index does not cover production on farms, in the construction industry, in transportation, or in various trade and service industries. A number of groups and subgroups include data for individual series not published separately.

The G.17 release each month contains extensive explanatory material, as well as references for further detail. The 2005 revision is described in “Industrial Production and Capacity Utilization: The 2005 Annual Revision,” issued November 7, 2005. An expanded version of this release will be published in a forthcoming article in the Federal

48

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Reserve Bulletin, which will be available on the Federal Reserve Web site. An earlier detailed description of the industrial production index, together with a history of the index, a glossary of terms, and a bibliography is presented in Industrial Production—1986 Edition, available from Publication Services, Mail Stop 127, Board of Governors of the Federal Reserve System, Washington, DC 20551.

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY Section 3a: Household and Family Income

Figure 3-1. Median and Mean Household Income, 1967–2004 (2004 dollars) 65,000

2004 dollars

Median household income

55,000 Mean household income

45,000

35,000

25,000 1967

1972

1977

1982

1987

1992

1997

2004

Year

• Measured as cash income before taxes, median household income in 2004 was $44,389, down 3.8 percent in constant (2004) dollars from the 1999 all-time high of $46,129. Between the 1969 business cycle peak and 1999, real median household income rose an average 0.7 percent per year. (Table 3-1) • The Census Bureau also tabulates “mean income,” which is the sum of all the reported household incomes divided by the number of households. The mean is higher than the median when the distribution of income is skewed upward, with very large incomes at the top of the distribution. It rises faster than the median when the income distribution becomes more unequal. (See “Whose Standard of Living?” in the article “Using the Data: The U.S. Economy in the New Century” at the beginning of this book.) Mean household income peaked one year later, in 2000; rose at a 1.3 percent annual rate from 1969 to 2000; and declined 3.4 percent from 2000 to 2004. (Table 3-4) • Measures of household income distribution confirm an increase in income inequality. The “Gini coefficient” rose from 0.386 in 1968 to a high of 0.466 in 2001, and returned to that level by 2004 after a slight decline in 2002. (Table 3-4) • In earlier postwar years, the Census Bureau did not tabulate household income but did measure median family income. (“Households” is the larger group, including not only families but also individuals living apart from any family member.) In constant dollars, median family income rose at a 3.3 percent annual rate between cycle peaks in 1948 and 1969 and slowed to 0.9 percent from 1969 to 2000. Thus, family income over the latest three decades rose faster than household income, but there was a marked slowdown from the first two postwar decades in the rate of increase in the standard of living for the typical family. (Table 3-3) • In another contrast to the more recent period, inequality in family incomes declined between 1947 and 1968. (Table 3-5) • The ratio of women’s to men’s earnings for year-round, full-time workers increased from 0.607 in 1960 to 0.765 in 2004. Since 1973, men’s earnings have stagnated in real terms, while those of women increased. (Table 3-1)

49

50

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-1. Median Household Income and Median Earnings (2004 dollars.) Median household income Year

Median earnings of year-round, full-time workers

White All races

Asian 1

Black Total

Not Hispanic

Hispanic (of any race)

Male workers

Female workers

Ratio, female to male

1960 1961 1962 1963 1964

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

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

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

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

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

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

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

29 013 29 945 30 500 31 276 32 016

17 603 17 742 18 086 18 436 18 937

0.607 0.592 0.593 0.589 0.591

1965 1966 1967 1968 1969

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

... ... 34 234 35 680 37 044

... ... 35 701 37 150 38 660

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

... ... 20 728 21 907 23 368

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

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

32 423 33 862 34 421 35 316 37 335

19 430 19 489 19 890 20 538 21 977

0.599 0.576 0.578 0.582 0.589

1970 1971 1972 1973 1974

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

36 795 36 416 37 947 38 713 37 519

38 324 38 090 39 809 40 573 39 238

... ... 40 377 40 930 39 573

23 327 22 500 23 237 23 883 23 335

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

... ... 30 042 29 992 29 842

37 773 37 913 39 923 41 195 39 750

22 425 22 561 23 100 23 330 23 355

0.594 0.595 0.579 0.566 0.588

1975 1976 1977 1978 1979

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

36 515 37 127 37 337 39 733 39 688

38 186 38 892 39 262 41 305 41 612

38 474 39 685 40 041 42 083 42 198

22 924 23 126 23 169 24 822 24 431

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

27 433 28 005 29 290 31 131 31 445

39 479 39 377 40 236 41 489 41 021

23 221 23 702 23 708 24 661 24 474

0.588 0.602 0.589 0.594 0.597

1980 1981 1982 1983 1984

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

38 453 37 859 37 800 37 577 38 782

40 568 40 001 39 573 39 406 40 914

41 287 40 578 40 236 ... 41 763

23 372 22 447 22 428 22 362 23 307

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

29 640 30 368 28 443 28 618 29 399

40 412 40 213 39 498 39 369 40 172

24 312 23 820 24 388 25 036 25 572

0.602 0.592 0.617 0.636 0.637

1985 1986 1987 1988 1989

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

39 545 40 939 41 442 41 771 42 524

41 705 43 041 43 663 44 159 44 731

42 643 44 019 44 864 45 375 45 693

24 813 24 797 24 921 25 173 26 602

... ... 51 245 49 507 53 110

29 243 30 177 30 748 31 237 32 248

40 512 41 530 41 259 40 898 40 207

26 160 26 691 26 891 27 013 27 612

0.646 0.643 0.652 0.660 0.687

1990 1991 1992 1993 1994

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

41 963 40 746 40 422 40 217 40 677

43 768 42 697 42 497 42 430 42 901

44 769 43 717 43 924 43 992 44 286

26 173 25 437 24 746 25 145 26 510

53 885 49 298 49 876 49 365 51 038

31 294 30 690 29 815 29 462 29 528

38 789 39 792 39 843 39 143 38 900

27 779 27 798 28 203 27 995 27 995

0.716 0.699 0.708 0.715 0.720

1995 1996 1997 1998 1999

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

41 943 42 544 43 430 45 003 46 129

44 023 44 545 45 739 47 349 47 975

45 761 46 494 47 623 49 116 50 052

27 563 28 148 29 400 29 340 31 636

49 991 51 875 53 106 53 975 57 763

28 138 29 855 31 252 32 787 34 851

38 768 38 531 39 521 40 906 41 249

27 691 28 421 29 309 29 931 29 829

0.714 0.738 0.742 0.732 0.723

2000 2001 2002 2003 2004

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

46 058 45 062 44 546 44 482 44 389

48 171 47 504 ... ... ...

50 043 49 412 ... ... ...

32 541 31 448 ... ... ...

61 159 57 234 ... ... ...

36 382 35 817 34 771 33 884 34 241

40 861 40 843 41 416 41 761 40 798

30 123 31 176 31 725 31 550 31 223

0.737 0.763 0.766 0.755 0.765

... ... ...

47 358 46 857 46 697

49 264 49 061 48 977

30 489 30 442 30 134

55 278 57 196 57 518

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

30 648 30 487 30 268

54 920 56 747 57 475

... ... ...

... ... ...

... ... ...

... ... ...

By race: Race alone: 2002 ......................................................... 2003 ......................................................... 2004 ......................................................... Race alone or in combination: 2002 ......................................................... 2003 ......................................................... 2004 ......................................................... 1For

1987 through 2001, Asian and Pacific Islander. . . . = Not available.

51

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY Table 3-2. Median Income of Households by Race and Hispanic Origin Using 2- and 3-Year Averages 1 (Income in 2004 dollars.) 3-year average 2002–2004 (dollars)

2-year average (dollars) 2003–2004

Race 1 and Hispanic Origin Median income

90-percent confidence interval (±)

Median income

Change in real median income (2003–2004 average less 2002–2003 average)

2002–2003

90-percent confidence interval (±)

Median income

90-percent confidence interval (±)

Percentage change

Dollars

All races .....................................................................

44 473

208

44 436

263

44 514

230

-79

-0.2

White ........................................................................... White, not Hispanic .................................................

46 971 49 101

214 253

46 777 49 019

248 312

47 108 49 162

254 292

*-331

*-0.7

-143

-0.3

Black ...........................................................................

30 355

430

30 288

475

30 465

545

-177

-0.6

American Indian and Alaska Native ............................

33 132

1 477

32 510

1 732

33 749

1 785

-1 239

-3.7

Asian ...........................................................................

56 664

1 273

57 357

1 581

56 237

1 415

1 120

2.0

Native Hawaiian and Other Pacific Islander ................

51 687

4 044

54 378

4 423

52 311

4 903

2 068

4.0

Hispanic origin (any race) ...........................................

34 299

558

34 062

643

34 328

661

-265

-0.8

1Respondents reporting one race alone, excluding those reporting combinations *Statistically different from zero at the 90-percent confidence level.

of more than one race. See notes and definitions.

52

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-3. Median Family Income by Type of Family (2004 dollars.) Married couples Year

All families

Wife in paid labor force

Total

Wife not in paid labor force

Male householder 1

Female householder 1

4-person families

1947 ........................................................... 1948 ........................................................... 1949 ...........................................................

21 771 21 177 20 898

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

23 646 23 045 22 721

1950 1951 1952 1953 1954

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

22 055 22 827 23 468 25 424 24 759

22 898 23 614 24 500 26 197 25 745

26 600 28 501 29 561 32 395 31 705

22 028 22 365 22 997 24 675 24 070

20 699 21 245 21 809 24 651 23 850

12 772 13 663 13 484 14 714 13 630

24 420 25 368 26 382 ... ...

1955 1956 1957 1958 1959

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

26 364 28 098 28 285 28 158 29 804

27 444 29 232 29 372 29 420 31 152

33 549 35 016 34 977 34 396 36 891

25 815 27 304 27 527 27 582 29 254

25 004 24 494 26 092 23 580 25 381

14 746 16 189 15 737 15 172 15 208

29 354 31 266 31 258 31 468 33 397

1960 1961 1962 1963 1964

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

30 374 30 695 31 570 32 683 33 905

31 742 32 311 33 198 34 482 35 778

37 293 38 471 39 548 40 737 42 168

29 834 29 929 30 553 31 584 32 713

26 267 27 130 30 272 29 864 29 895

16 041 16 019 16 596 16 794 17 848

34 023 34 452 35 811 37 332 38 648

1965 1966 1967 1968 1969

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

35 311 37 200 38 020 39 777 41 654

36 875 38 712 40 455 42 136 44 162

43 635 45 666 47 716 49 242 51 351

33 459 35 205 36 477 37 855 39 207

31 205 31 767 32 657 33 735 36 827

17 927 19 805 20 580 20 630 21 293

39 590 41 196 43 105 45 315 46 908

1970 1971 1972 1973 1974

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

41 568 41 487 43 499 44 381 43 232

44 302 44 331 46 579 47 979 46 653

51 717 51 845 54 382 56 114 54 353

39 196 39 305 41 308 42 049 40 984

37 966 35 182 40 326 39 560 39 064

21 456 20 628 20 904 21 349 21 740

47 045 46 896 50 121 50 490 50 158

1975 1976 1977 1978 1979

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

42 453 43 776 44 041 46 527 47 225

46 006 47 420 48 462 51 011 51 666

53 340 54 818 55 757 58 314 59 941

39 461 40 770 41 438 42 613 42 690

40 213 37 636 39 939 42 112 40 525

21 179 21 104 21 362 22 517 23 821

49 041 50 674 51 507 53 881 54 277

1980 1981 1982 1983 1984

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

45 647 44 437 43 913 44 225 45 734

50 245 49 750 48 759 49 093 51 234

58 362 58 051 56 860 57 767 59 982

41 193 40 342 39 914 39 385 40 801

38 038 39 477 37 742 39 304 40 357

22 599 21 754 21 521 21 211 22 152

52 831 52 150 51 757 52 508 53 804

1985 1986 1987 1988 1989

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

46 439 48 439 49 248 49 391 50 332

52 073 53 943 55 464 55 832 56 707

60 999 63 054 64 801 65 528 66 592

41 116 42 429 42 362 41 764 42 290

37 878 41 046 40 085 41 161 40 966

22 872 22 440 23 349 23 545 24 188

54 881 57 085 58 973 59 916 59 967

1990 1991 1992 1993 1994

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

49 545 48 608 48 255 47 578 48 895

55 910 55 446 55 271 55 361 56 683

65 555 65 149 65 674 65 916 67 210

42 414 40 677 39 812 38 900 39 306

40 706 38 345 36 384 34 071 34 988

23 729 22 576 22 463 22 455 22 991

58 091 58 234 58 386 58 137 59 271

1995 1996 1997 1998 1999

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

49 987 50 705 52 307 54 091 55 350

57 927 59 583 60 549 62 705 64 044

68 711 69 981 71 203 73 782 75 353

39 849 40 453 42 283 43 008 43 617

37 367 37 879 38 683 41 295 42 324

24 237 23 867 24 673 25 650 26 934

61 158 61 754 62 613 64 882 67 732

2000 2001 2002 2003 2004

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

55 647 54 857 54 285 54 096 54 061

64 825 64 384 64 211 63 955 63 630

75 943 75 587 76 475 77 190 76 814

43 856 43 519 42 123 42 227 42 221

41 382 39 045 39 641 39 054 40 293

28 208 27 473 27 755 27 264 26 964

68 742 67 524 65 894 66 842 66 111

1No

spouse present. . . . = Not available.

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

53

Table 3-4. Shares of Aggregate Income Received by Each Fifth and Top 5 Percent of Households Upper limit of each fifth (2004 dollars) Year

Number (thousands)

Lowest fifth

Second fifth

Third fifth

Fourth fifth

Lower limit of top 5 percent (2004 dollars)

Share of aggregate income (percent) Lowest fifth

Second fifth

Third fifth

Fourth fifth

Highest fifth

Top 5 percent

Mean income (2004 dollars)

Gini coefficient

1967 ....................................... 1968 ....................................... 1969 .......................................

60 813 62 214 63 401

14 378 15 313 15 786

28 037 29 031 30 292

39 794 41 611 43 808

56 745 58 467 61 379

91 061 91 470 96 263

4.0 4.2 4.1

10.8 11.1 10.9

17.3 17.6 17.5

24.2 24.5 24.5

43.6 42.6 43.0

17.2 16.3 16.6

38 289 40 366 42 144

0.397 0.386 0.391

1970 1971 1972 1973 1974

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

64 778 66 676 68 251 69 859 71 163

15 537 15 328 15 849 16 193 16 285

29 764 29 220 30 523 31 137 30 207

43 291 43 000 45 112 46 071 44 636

61 765 61 313 64 568 66 333 64 781

97 633 97 366 103 916 106 615 102 534

4.1 4.1 4.1 4.2 4.3

10.8 10.6 10.4 10.4 10.6

17.4 17.3 17.0 17.0 17.0

24.5 24.5 24.5 24.5 24.6

43.3 43.5 43.9 43.9 43.5

16.6 16.7 17.0 16.9 16.5

42 133 41 882 44 165 44 771 43 875

0.394 0.396 0.401 0.400 0.395

1975 1976 1977 1978 1979

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

72 867 74 142 76 030 77 330 80 776

15 472 15 818 15 774 16 664 16 877

29 039 29 471 29 711 31 509 31 344

43 880 44 894 45 287 47 674 48 223

63 004 64 590 66 024 69 337 69 920

99 423 102 431 104 538 110 924 112 981

4.3 4.3 4.2 4.2 4.1

10.4 10.3 10.2 10.2 10.2

17.0 17.0 16.9 16.8 16.8

24.7 24.7 24.7 24.7 24.6

43.6 43.7 44.0 44.1 44.2

16.5 16.6 16.8 16.8 16.9

42 639 43 671 44 291 46 764 47 146

0.397 0.398 0.402 0.402 0.404

1980 1981 1982 1983 1984

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

82 368 83 527 83 918 85 407 86 789

16 237 15 926 15 741 16 101 16 437

30 450 29 773 29 939 29 939 30 763

46 682 46 048 45 744 45 950 47 395

68 352 68 080 68 213 69 443 71 595

109 999 109 564 112 600 114 250 118 518

4.2 4.1 4.0 4.0 4.0

10.2 10.1 10.0 9.9 9.9

16.8 16.7 16.5 16.4 16.3

24.7 24.8 24.5 24.6 24.6

44.1 44.3 45.0 45.1 45.2

16.5 16.5 17.0 17.0 17.1

45 733 45 229 45 555 45 702 47 518

0.403 0.406 0.412 0.414 0.415

1985 1986 1987 1988 1989

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

88 458 89 479 91 124 92 830 93 347

16 645 16 850 17 174 17 463 17 795

31 318 32 229 32 599 32 987 33 836

48 515 50 020 50 886 51 408 52 004

72 966 75 611 76 906 77 625 79 014

120 562 126 789 128 690 131 397 134 976

3.9 3.8 3.8 3.8 3.8

9.8 9.7 9.6 9.6 9.5

16.2 16.2 16.1 16.0 15.8

24.4 24.3 24.3 24.2 24.0

45.6 46.1 46.2 46.3 46.8

17.6 18.0 18.2 18.3 18.9

48 667 50 579 51 538 52 192 53 725

0.419 0.425 0.426 0.426 0.431

1990 1991 1992 1993 1994

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

94 312 95 669 96 426 97 107 98 990

17 518 17 029 16 625 16 693 16 927

33 161 32 460 31 851 31 770 31 771

50 732 50 137 50 006 49 939 50 557

77 366 76 767 76 536 77 625 79 228

132 782 130 382 130 649 134 704 138 459

3.8 3.8 3.8 3.6 3.6

9.6 9.6 9.4 9.0 8.9

15.9 15.9 15.8 15.1 15.0

24.0 24.2 24.2 23.5 23.4

46.6 46.5 46.9 48.9 49.1

18.5 18.1 18.6 21.0 21.2

52 418 51 290 51 246 53 331 54 381

0.428 0.428 0.433 0.454 0.456

1995 1996 1997 1998 1999

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

99 627 101 018 102 528 103 874 106 434

17 725 17 702 18 074 18 652 19 424

33 128 33 276 34 270 35 192 36 181

51 699 52 750 53 987 55 942 57 110

80 159 81 529 83 915 86 801 89 809

139 089 143 292 148 523 152 999 160 957

3.7 3.6 3.6 3.6 3.6

9.1 9.0 8.9 9.0 8.9

15.2 15.1 15.0 15.0 14.9

23.3 23.3 23.2 23.2 23.2

48.7 49.0 49.4 49.2 49.4

21.0 21.4 21.7 21.4 21.5

55 313 56 486 58 320 60 014 62 044

0.450 0.455 0.459 0.456 0.458

2000 2001 2002 2003 2004

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

108 209 109 297 111 278 112 000 113 146

19 656 19 176 18 819 18 467 18 500

36 197 35 550 35 059 34 914 34 738

57 229 56 557 55 841 55 916 55 325

89 688 89 103 88 250 89 202 88 029

159 290 160 598 157 562 158 262 157 185

3.6 3.5 3.5 3.4 3.4

8.9 8.7 8.8 8.7 8.7

14.8 14.6 14.8 14.8 14.7

23.0 23.0 23.3 23.4 23.2

49.8 50.1 49.7 49.8 50.1

22.1 22.4 21.7 21.4 21.8

62 671 62 114 60 768 60 654 60 528

0.462 0.466 0.462 0.464 0.466

54

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-5. Shares of Aggregate Income Received by Each Fifth and Top 5 Percent of Families Year

Number of families (thousands)

Share of aggregate income (percent) Lowest fifth

Second fifth

Third fifth

Fourth fifth

Highest fifth

Mean family income (2004 dollars) Top 5 percent

Lowest fifth

Second fifth

Third fifth

Fourth fifth

Highest fifth

Top 5 percent

Gini coefficient

1947 ....................................... 1948 ....................................... 1949 .......................................

37 237 38 624 39 303

5.0 4.9 4.5

11.9 12.1 11.9

17.0 17.3 17.3

23.1 23.2 23.5

43.0 42.4 42.7

17.5 17.1 16.9

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

0.376 0.371 0.378

1950 1951 1952 1953 1954

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

39 929 40 578 40 832 41 202 41 951

4.5 5.0 4.9 4.7 4.5

12.0 12.4 12.3 12.5 12.1

17.4 17.6 17.4 18.0 17.7

23.4 23.4 23.4 23.9 23.9

42.7 41.6 41.9 40.9 41.8

17.3 16.8 17.4 15.7 16.3

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

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

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

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

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

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

0.379 0.363 0.368 0.359 0.371

1955 1956 1957 1958 1959

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

42 889 43 497 43 696 44 232 45 111

4.8 5.0 5.1 5.0 4.9

12.3 12.5 12.7 12.5 12.3

17.8 17.9 18.1 18.0 17.9

23.7 23.7 23.8 23.9 23.8

41.3 41.0 40.4 40.6 41.1

16.4 16.1 15.6 15.4 15.9

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

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

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

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

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

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

0.363 0.358 0.351 0.354 0.361

1960 1961 1962 1963 1964

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

45 539 46 418 47 059 47 540 47 956

4.8 4.7 5.0 5.0 5.1

12.2 11.9 12.1 12.1 12.0

17.8 17.5 17.6 17.7 17.7

24.0 23.8 24.0 24.0 24.0

41.3 42.2 41.3 41.2 41.2

15.9 16.6 15.7 15.8 15.9

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

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

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

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

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

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

0.364 0.374 0.362 0.362 0.361

1965 1966 1967 1968 1969

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

48 509 49 214 50 111 50 823 51 586

5.2 5.6 5.4 5.6 5.6

12.2 12.4 12.2 12.4 12.4

17.8 17.8 17.5 17.7 17.7

23.9 23.8 23.5 23.7 23.7

40.9 40.5 41.4 40.5 40.6

15.5 15.6 16.4 15.6 15.6

... 11 582 11 771 12 677 13 093

... 25 712 26 321 27 648 28 914

... 36 790 37 833 39 500 41 375

... 49 251 50 740 52 827 55 426

... 84 056 89 594 90 267 94 925

... 129 070 141 753 139 149 145 799

0.356 0.349 0.358 0.348 0.349

1970 1971 1972 1973 1974

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

52 227 53 296 54 373 55 053 55 698

5.4 5.5 5.5 5.5 5.7

12.2 12.0 11.9 11.9 12.0

17.6 17.6 17.5 17.5 17.6

23.8 23.8 23.9 24.0 24.1

40.9 41.1 41.4 41.1 40.6

15.6 15.7 15.9 15.5 14.8

12 908 12 912 13 465 13 818 14 073

28 542 28 107 29 381 29 930 29 708

41 269 41 124 43 155 43 975 43 373

55 669 55 694 58 933 60 098 59 423

95 729 95 926 102 210 103 113 100 128

145 769 146 263 156 694 155 614 146 048

0.353 0.355 0.359 0.356 0.355

1975 1976 1977 1978 1979

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

56 245 56 710 57 215 57 804 59 550

5.6 5.6 5.5 5.4 5.4

11.9 11.9 11.7 11.7 11.6

17.7 17.7 17.6 17.6 17.5

24.2 24.2 24.3 24.2 24.1

40.7 40.7 40.9 41.1 41.4

14.9 14.9 14.9 15.1 15.3

13 514 13 843 13 774 14 312 14 461

28 568 29 295 29 444 31 036 31 266

42 478 43 700 44 283 46 603 47 153

58 161 59 708 61 086 64 209 64 917

98 012 100 493 102 909 108 956 111 347

143 776 147 082 150 026 159 664 164 819

0.357 0.358 0.363 0.363 0.365

1980 1981 1982 1983 1984

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

60 309 61 019 61 393 62 015 62 706

5.3 5.3 5.0 4.9 4.8

11.6 11.4 11.3 11.2 11.1

17.6 17.5 17.2 17.2 17.1

24.4 24.6 24.4 24.5 24.5

41.1 41.2 42.2 42.4 42.5

14.6 14.4 15.3 15.3 15.4

13 920 13 503 12 752 12 571 13 013

30 302 29 364 28 934 28 924 29 794

45 777 44 911 44 181 44 502 45 968

63 510 63 055 62 675 63 424 65 733

106 931 105 798 108 299 109 972 114 243

152 011 147 835 154 948 158 558 165 174

0.365 0.369 0.380 0.382 0.383

1985 1986 1987 1988 1989

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

63 558 64 491 65 204 65 837 66 090

4.8 4.7 4.6 4.6 4.6

11.0 10.9 10.7 10.7 10.6

16.9 16.9 16.8 16.7 16.5

24.3 24.1 24.0 24.0 23.7

43.1 43.4 43.8 44.0 44.6

16.1 16.5 17.2 17.2 17.9

13 176 13 546 13 528 13 648 13 923

30 234 31 277 31 662 31 781 32 391

46 680 48 456 49 165 49 457 50 321

66 911 69 235 70 365 71 027 72 398

118 913 124 704 128 594 130 323 136 319

177 703 189 372 201 306 203 626 218 371

0.389 0.392 0.393 0.395 0.401

1990 1991 1992 1993 1994

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

66 322 67 173 68 216 68 506 69 313

4.6 4.5 4.3 4.1 4.2

10.8 10.7 10.5 9.9 10.0

16.6 16.6 16.5 15.7 15.7

23.8 24.1 24.0 23.3 23.3

44.3 44.2 44.7 47.0 46.9

17.4 17.1 17.6 20.3 20.1

13 780 13 165 12 648 12 537 13 096

32 142 31 250 30 506 30 110 30 983

49 501 48 489 48 195 47 716 48 928

71 188 70 326 70 054 70 733 72 325

132 300 129 205 130 362 142 914 145 755

207 585 199 924 205 246 246 666 250 056

0.396 0.397 0.404 0.429 0.426

1995 1996 1997 1998 1999

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

69 597 70 241 70 884 71 551 73 206

4.4 4.2 4.2 4.2 4.3

10.1 10.0 9.9 9.9 9.9

15.8 15.8 15.7 15.7 15.6

23.2 23.1 23.0 23.0 23.0

46.5 46.8 47.2 47.3 47.2

20.0 20.3 20.7 20.7 20.3

13 866 13 651 14 151 14 497 15 085

31 947 32 181 33 158 34 121 35 064

50 019 50 905 52 315 54 004 55 345

73 184 74 381 76 712 79 197 81 688

147 031 150 588 157 602 163 007 167 420

252 160 260 542 275 829 285 308 288 662

0.421 0.425 0.429 0.430 0.429

2000 2001 2002 2003 2004

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

73 778 74 340 75 616 76 232 77 019

4.3 4.2 4.2 4.1 4.0

9.8 9.7 9.7 9.6 9.6

15.4 15.4 15.5 15.5 15.4

22.7 22.9 23.0 23.2 23.0

47.7 47.7 47.6 47.6 47.9

21.1 21.0 20.8 20.5 20.9

15 490 14 962 14 723 14 244 14 209

35 417 34 645 34 160 33 780 33 802

55 664 54 997 54 483 54 441 54 244

82 037 81 789 81 033 81 855 81 024

172 123 170 357 167 327 167 711 168 733

305 005 299 123 292 841 289 032 294 257

0.433 0.435 0.434 0.436 0.438

. . . = Not available.

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

Section 3b: Poverty

Figure 3-2. Poverty Rates: Total, Children, and Seniors, 1959–2004 (percent of population in age group; age groups not available 1960–1965) 40 Total 65 and older

Percent

30

Under 18

20

10

0 1959

1964

1969

1974

1979

1984

1989

1994

1999

2004

Year

• The percent of Americans with family incomes below the poverty line increased from 11.3 percent in 2000 (which was near the all-time low reached in 1973) to 12.7 percent in 2004. (Table 3-7) • The poverty rate for senior citizens (65 and older) was 9.8 percent in 2004, lower than the rate for people aged 18 to 64. This has not always been the case. In 1959, the first poverty rate calculations showed more than one-third of all seniors as living in poverty, compared with 17 percent of working-age adults. But between 1959 and 1974, ad hoc legislative changes raised Social Security benefits by a cumulative 104 percent—exceeding the 69 percent increase in consumer prices—and since then, each year’s payments have been indexed to the rate of change in the CPI-W (see Chapter 8). As workers’ earnings and incomes have not always kept up with inflation in the period since 1974, while Social Security cost-of-living adjustments have done so, the gap between senior poverty and working-age poverty has continued to narrow, and in some years been zero or negative. (Table 3-8) However, it should be noted that when medical expenses are taken into account, recent estimates indicate that redefining income and poverty would raise the poverty rate of the elderly above that of working-age adults. (Table 3-13) • The poverty rate for children, on the other hand, has always been higher than the average. The gap between the poverty rates for children and for working-age adults has been as high as 10 percentage points (in 1959 and 1993, for example) and as low as 6.1 points (in 2002). (Table 3-8) • Poverty among Hispanics was 21.9 percent in 2004, compared with 8.6 percent for nonHispanic Whites. Poverty among Blacks was 24.7 percent, and poverty among Asians was 9.8 percent. For both of those groups, poverty rates including persons who reported more than one race (permitted for the first time in the survey for 2002) were identical with those reporting one race only. (Table 3-7)

55

56

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-6. Average Poverty Thresholds by Family Size (Dollars.) Unrelated individuals Year All ages

Families of 2 people

Under 65 years 65 years and older All ages

HouseHouseholder holder under 65 years 65 years and over

Families, all ages

3 people

4 people

5 people

6 people

7 people or more (before 1980)

7 people

8 people

9 people

CPI-U, all items (1982– 1984 = 100)

1959 ........................................

1 467

1 503

1 397

1 894

1 952

1 761

2 324

2 973

3 506

3 944

4 849

...

...

...

29.2

1960 1961 1962 1963 1964

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

1 490 1 506 1 519 1 539 1 558

1 526 1 545 1 562 1 581 1 601

1 418 1 433 1 451 1 470 1 488

1 924 1 942 1 962 1 988 2 015

1 982 2 005 2 027 2 052 2 079

1 788 1 808 1 828 1 850 1 875

2 359 2 383 2 412 2 442 2 473

3 022 3 054 3 089 3 128 3 169

3 560 3 597 3 639 3 685 3 732

4 002 4 041 4 088 4 135 4 193

4 921 4 967 5 032 5 092 5 156

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

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

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

29.6 29.9 30.3 30.6 31.0

1965 1966 1967 1968 1969

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

1 582 1 628 1 675 1 748 1 840

1 626 1 674 1 722 1 797 1 893

1 512 1 556 1 600 1 667 1 757

2 048 2 107 2 168 2 262 2 383

2 114 2 175 2 238 2 333 2 458

1 906 1 961 2 017 2 102 2 215

2 514 2 588 2 661 2 774 2 924

3 223 3 317 3 410 3 553 3 743

3 797 3 908 4 019 4 188 4 415

4 264 4 388 4 516 4 706 4 958

5 248 5 395 5 550 5 789 6 101

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

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

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

31.5 32.5 33.4 34.8 36.7

1970 1971 1972 1973 1974

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

1 954 2 040 2 109 2 247 2 495

2 010 2 098 2 168 2 307 2 562

1 861 1 940 2 005 2 130 2 364

2 525 2 633 2 724 2 895 3 211

2 604 2 716 2 808 2 984 3 312

2 348 2 448 2 530 2 688 2 982

3 099 3 229 3 339 3 548 3 936

3 968 4 137 4 275 4 540 5 038

4 680 4 880 5 044 5 358 5 950

5 260 5 489 5 673 6 028 6 699

6 468 6 751 6 983 7 435 8 253

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

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

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

38.8 40.5 41.8 44.4 49.3

1975 1976 1977 1978 1979

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

2 724 2 884 3 075 3 311 3 689

2 797 2 959 3 152 3 392 3 778

2 581 2 730 2 906 3 127 3 479

3 506 3 711 3 951 4 249 4 725

3 617 3 826 4 072 4 383 4 878

3 257 3 445 3 666 3 944 4 390

4 293 4 540 4 833 5 201 5 784

5 500 5 815 6 191 6 662 7 412

6 499 6 876 7 320 7 880 8 775

7 316 7 760 8 261 8 891 9 914

9 022 9 588 10 216 11 002 12 280

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

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

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

53.8 56.9 60.6 65.2 72.6

1980 1981 1982 1983 1984

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

4 190 4 620 4 901 5 061 5 278

4 290 4 729 5 019 5 180 5 400

3 949 4 359 4 626 4 775 4 979

5 363 5 917 6 281 6 483 6 762

5 537 6 111 6 487 6 697 6 983

4 983 5 498 5 836 6 023 6 282

6 565 7 250 7 693 7 938 8 277

8 414 9 287 9 862 10 178 10 609

9 966 11 007 11 684 12 049 12 566

11 269 12 449 13 207 13 630 14 207

13 955 ... ... ... ...

12 761 14 110 15 036 15 500 16 096

14 199 15 655 16 719 17 170 17 961

16 896 18 572 19 698 20 310 21 247

82.4 90.9 96.5 99.6 103.9

1985 1986 1987 1988 1989

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

5 469 5 572 5 778 6 022 6 310

5 593 5 701 5 909 6 155 6 451

5 156 5 255 5 447 5 674 5 947

6 998 7 138 7 397 7 704 8 076

7 231 7 372 7 641 7 958 8 343

6 503 6 630 6 872 7 157 7 501

8 573 8 737 9 056 9 435 9 885

10 989 11 203 11 611 12 092 12 674

13 007 13 259 13 737 14 304 14 990

14 696 14 986 15 509 16 146 16 921

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

16 656 17 049 17 649 18 232 19 162

18 512 18 791 19 515 20 253 21 328

22 083 22 497 23 105 24 129 25 480

107.6 109.6 113.6 118.3 124.0

1990 1991 1992 1993 1994

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

6 652 6 932 7 143 7 363 7 547

6 800 7 086 7 299 7 518 7 710

6 268 6 532 6 729 6 930 7 108

8 509 8 865 9 137 9 414 9 661

8 794 9 165 9 443 9 728 9 976

7 905 8 241 8 487 8 740 8 967

10 419 10 860 11 186 11 522 11 821

13 359 13 924 14 335 14 763 15 141

15 792 16 456 16 952 17 449 17 900

17 839 18 587 19 137 19 718 20 235

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

20 241 21 058 21 594 22 383 22 923

22 582 23 582 24 053 24 838 25 427

26 848 27 942 28 745 29 529 30 300

130.7 136.2 140.3 144.5 148.2

1995 1996 1997 1998 1999

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

7 763 7 995 8 183 8 316 9 035

7 929 8 163 8 350 8 480 9 214

7 309 7 525 7 698 7 818 8 494

9 933 10 233 10 473 10 634 11 549

10 259 10 564 10 805 10 972 11 920

9 219 9 491 9 712 9 862 10 710

12 158 12 516 12 802 13 003 14 126

15 569 16 036 16 400 16 660 18 103

18 408 18 952 19 380 19 680 21 396

20 804 21 389 21 886 22 228 24 163

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

23 552 24 268 24 802 25 257 27 551

26 237 27 091 27 593 28 166 30 796

31 280 31 971 32 566 33 339 36 606

152.4 156.9 160.5 163.0 166.6

2000 2001 2002 2003 2004

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

8 791 9 039 9 183 9 393 9 645

8 959 9 214 9 359 9 573 9 827

8 259 8 494 8 628 8 825 9 060

11 235 11 569 11 756 12 015 12 334

11 589 11 920 12 110 12 321 12 649

10 418 10 715 10 885 11 122 11 418

13 740 14 128 14 348 14 680 15 067

17 604 18 104 18 392 18 810 19 307

20 815 21 405 21 744 22 245 22 831

23 533 24 195 24 576 25 122 25 788

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

26 750 27 517 28 001 28 544 29 236

29 701 30 627 30 907 31 589 32 641

35 150 36 286 37 062 37 656 39 048

172.2 177.1 179.9 184.0 188.9

. . . = Not available.

57

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY Table 3-7. Poverty Status by Type of Family, Race, and Hispanic Origin (Thousands of people or families, percent of population.) Married-couple families 1

All people Year, race, and Hispanic origin

Below poverty level Number of people

Number

Percent

Female householder, no husband present 1

Unrelated individuals

Below poverty level Number of families

Number

Percent

Below poverty level Number of families

Below poverty level Number

Number of people

Percent

Number

Percent

All Races 1959 .................................

176 557

39 490

22.4

39 335

...

...

4 493

1 916

42.6

10 699

4 928

46.1

1960 1961 1962 1963 1964

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

179 503 181 277 184 276 187 258 189 710

39 851 39 628 38 625 36 436 36 055

22.2 21.9 21.0 19.5 19.0

39 624 40 405 40 923 41 311 41 648

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

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

4 609 4 643 4 741 4 882 5 006

1 955 1 954 2 034 1 972 1 822

42.4 42.1 42.9 40.4 36.4

10 888 11 146 11 013 11 182 12 057

4 926 5 119 5 002 4 938 5 143

45.2 45.9 45.4 44.2 42.7

1965 1966 1967 1968 1969

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

191 413 193 388 195 672 197 628 199 517

33 185 28 510 27 769 25 389 24 147

17.3 14.7 14.2 12.8 12.1

42 107 42 553 43 292 43 842 44 436

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

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

4 992 5 171 5 333 5 441 5 591

1 916 1 721 1 774 1 755 1 827

38.4 33.1 33.3 32.3 32.7

12 132 12 271 13 114 13 803 14 626

4 827 4 701 4 998 4 694 4 972

39.8 38.3 38.1 34.0 34.0

1970 1971 1972 1973 1974

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

202 183 204 554 206 004 207 621 209 362

25 420 25 559 24 460 22 973 23 370

12.6 12.5 11.9 11.1 11.2

44 739 45 752 46 314 46 812 47 069

... ... ... 2 482 2 474

... ... ... 5.3 5.3

6 001 6 191 6 607 6 804 7 230

1 952 2 100 2 158 2 193 2 324

32.5 33.9 32.7 32.2 32.1

15 491 16 311 16 811 18 260 18 926

5 090 5 154 4 883 4 674 4 553

32.9 31.6 29.0 25.6 24.1

1975 1976 1977 1978 1979

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

210 864 212 303 213 867 215 656 222 903

25 877 24 975 24 720 24 497 26 072

12.3 11.8 11.6 11.4 11.7

47 318 47 497 47 385 47 692 49 112

2 904 2 606 2 524 2 474 2 640

6.1 5.5 5.3 5.2 5.4

7 482 7 713 8 236 8 458 8 705

2 430 2 543 2 610 2 654 2 645

32.5 33.0 31.7 31.4 30.4

20 234 21 459 23 110 24 585 26 170

5 088 5 344 5 216 5 435 5 743

25.1 24.9 22.6 22.1 21.9

1980 1981 1982 1983 1984

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

225 027 227 157 229 412 231 700 233 816

29 272 31 822 34 398 35 303 33 700

13.0 14.0 15.0 15.2 14.4

49 294 49 630 49 908 50 081 50 350

3 032 3 394 3 789 3 815 3 488

6.2 6.8 7.6 7.6 6.9

9 082 9 403 9 469 9 896 10 129

2 972 3 252 3 434 3 564 3 498

32.7 34.6 36.3 36.0 34.5

27 133 27 714 27 908 29 158 30 268

6 227 6 490 6 458 6 740 6 609

22.9 23.4 23.1 23.1 21.8

1985 1986 1987 1988 1989

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

236 594 238 554 240 982 243 530 245 992

33 064 32 370 32 221 31 745 31 528

14.0 13.6 13.4 13.0 12.8

50 933 51 537 51 675 52 100 52 317

3 438 3 123 3 011 2 897 2 931

6.7 6.1 5.8 5.6 5.6

10 211 10 445 10 696 10 890 10 890

3 474 3 613 3 654 3 642 3 504

34.0 34.6 34.2 33.4 32.2

31 351 31 679 32 992 34 340 35 185

6 725 6 846 6 857 7 070 6 760

21.5 21.6 20.8 20.6 19.2

1990 1991 1992 1993 1994

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

248 644 251 192 256 549 259 278 261 616

33 585 35 708 38 014 39 265 38 059

13.5 14.2 14.8 15.1 14.5

52 147 52 457 53 090 53 181 53 865

2 981 3 158 3 385 3 481 3 272

5.7 6.0 6.4 6.5 6.1

11 268 11 693 12 061 12 411 12 220

3 768 4 161 4 275 4 424 4 232

33.4 35.6 35.4 35.6 34.6

36 056 36 845 36 842 38 038 38 538

7 446 7 773 8 075 8 388 8 287

20.7 21.1 21.9 22.1 21.5

1995 1996 1997 1998 1999

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

263 733 266 218 268 480 271 059 276 208

36 425 36 529 35 574 34 476 32 791

13.8 13.7 13.3 12.7 11.9

53 570 53 604 54 321 54 778 56 290

2 982 3 010 2 821 2 879 2 748

5.6 5.6 5.2 5.3 4.9

12 514 12 790 12 652 12 796 12 818

4 057 4 167 3 995 3 831 3 559

32.4 32.6 31.6 29.9 27.8

39 484 40 727 41 672 42 539 43 977

8 247 8 452 8 687 8 478 8 400

20.9 20.8 20.8 19.9 19.1

2000 2001 2002 2003 2004

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

278 944 281 475 285 317 287 699 290 605

31 581 32 907 34 570 35 861 36 997

11.3 11.7 12.1 12.5 12.7

56 598 56 755 57 327 57 725 58 118

2 637 2 760 3 052 3 115 3 222

4.7 4.9 5.3 5.4 5.5

12 903 13 146 13 626 13 791 14 009

3 278 3 470 3 613 3 856 3 973

25.4 26.4 26.5 28.0 28.4

45 624 46 392 47 156 47 594 48 198

8 653 9 226 9 618 9 713 9 864

19.0 19.9 20.4 20.4 20.5

1959 .................................

156 956

28 484

18.1

36 217

...

...

3 547

1 233

34.8

9 154

4 041

44.1

1960 1961 1962 1963 1964

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

158 863 160 306 162 842 165 309 167 313

28 309 27 890 26 672 25 238 24 957

17.8 17.4 16.4 15.3 14.9

36 400 37 185 37 657 37 799 38 171

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

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

3 673 3 608 3 627 3 797 3 882

1 252 1 208 1 230 1 191 1 125

34.0 33.5 33.9 31.4 29.0

9 405 9 589 9 494 9 725 10 415

4 047 4 143 4 059 4 089 4 241

43.0 43.2 42.7 42.0 40.7

1965 1966 1967 1968 1969

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

168 732 170 247 172 038 173 732 175 349

22 496 19 290 18 983 17 395 16 659

13.3 11.3 11.0 10.0 9.5

38 632 39 007 39 821 40 355 40 802

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

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

3 860 4 010 4 008 4 053 4 165

1 196 1 036 1 037 1 021 1 069

31.0 25.7 25.9 25.2 25.7

10 477 10 686 11 318 11 955 12 570

3 988 3 860 4 132 3 849 4 036

38.1 36.1 36.5 32.2 32.1

1970 1971 1972 1973 1974

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

177 376 179 398 180 125 181 185 182 376

17 484 17 780 16 203 15 142 15 736

9.9 9.9 9.0 8.4 8.6

41 092 42 039 42 585 43 805 43 049

... ... ... 2 306 1 977

... ... ... 5.3 4.6

4 408 4 489 4 672 4 853 5 208

1 102 1 191 1 135 1 190 1 289

25.0 26.5 24.3 24.5 24.8

13 500 14 214 14 495 15 761 16 295

4 161 4 214 3 935 3 730 3 555

30.8 29.6 27.1 23.7 21.8

1975 1976 1977 1978 1979

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

183 164 184 165 185 254 186 450 191 742

17 770 16 713 16 416 16 259 17 214

9.7 9.1 8.9 8.7 9.0

43 311 43 397 43 423 43 636 44 751

2 363 2 071 2 028 2 033 2 099

5.5 4.8 4.7 4.7 4.7

5 380 5 467 5 828 5 918 6 052

1 394 1 379 1 400 1 391 1 350

25.9 25.2 24.0 23.5 22.3

17 503 18 594 19 869 21 257 22 587

3 972 4 213 4 051 4 209 4 452

22.7 22.7 20.4 19.8 19.7

White

1These

numbers and rates refer to families rather than people. . . . = Not available.

58

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-7. Poverty Status by Type of Family, Race, and Hispanic Origin—Continued (Thousands of people or families, percent of population.) Married-couple families 1

All people Year, race, and Hispanic origin

Below poverty level Number of people

Number

Percent

Female householder, no husband present 1

Unrelated individuals

Below poverty level Number of families

Number

Percent

Below poverty level Number of families

Below poverty level Number

Number of people

Percent

Number

Percent

White—Continued 1980 1981 1982 1983 1984

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

192 912 194 504 195 919 197 496 198 941

19 699 21 553 23 517 23 984 22 955

10.2 11.1 12.0 12.1 11.5

44 860 45 007 45 252 45 470 45 643

2 437 2 712 3 104 3 125 2 858

5.4 6.0 6.9 6.9 6.3

6 266 6 620 6 507 6 796 6 941

1 609 1 814 1 813 1 926 1 878

25.7 27.4 27.9 28.3 27.1

23 370 23 913 24 300 25 206 26 094

4 760 5 061 5 041 5 189 5 181

20.4 21.2 20.7 20.6 19.9

1985 1986 1987 1988 1989

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

200 918 202 282 203 605 205 235 206 853

22 860 22 183 21 195 20 715 20 785

11.4 11.0 10.4 10.1 10.0

45 924 46 410 46 510 46 877 46 981

2 815 2 591 2 382 2 294 2 329

6.1 5.6 5.1 4.9 5.0

7 111 7 227 7 297 7 342 7 306

1 950 2 041 1 961 1 945 1 858

27.4 28.2 26.9 26.5 25.4

27 067 27 143 28 290 29 315 29 993

5 299 5 198 5 174 5 314 5 063

19.6 19.2 18.3 18.1 16.9

1990 1991 1992 1993 1994

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

208 611 210 133 213 060 214 899 216 460

22 326 23 747 25 259 26 226 25 379

10.7 11.3 11.9 12.2 11.7

47 014 47 124 47 383 47 452 47 905

2 386 2 573 2 677 2 757 2 629

5.1 5.5 5.7 5.8 5.5

7 512 7 727 7 868 8 131 8 031

2 010 2 192 2 245 2 376 2 329

26.8 28.4 28.5 29.2 29.0

30 833 31 207 31 170 32 112 32 569

5 739 5 872 6 147 6 443 6 292

18.6 18.8 19.7 20.1 19.3

1995 1996 1997 1998 1999

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

218 028 219 656 221 200 222 837 225 361

24 423 24 650 24 396 23 454 22 169

11.2 11.2 11.0 10.5 9.8

47 877 47 650 48 070 48 461 49 493

2 443 2 416 2 312 2 400 2 207

5.1 5.1 4.8 5.0 4.5

8 284 8 339 8 308 8 529 8 462

2 200 2 276 2 305 2 123 1 901

26.6 27.3 27.7 24.9 22.5

33 399 34 247 34 858 35 563 36 441

6 336 6 463 6 593 6 386 6 411

19.0 18.9 18.9 18.0 17.6

2000 ................................. 2001 .................................

227 846 229 675

21 645 22 739

9.5 9.9

49 473 49 612

2 181 2 242

4.4 4.5

8 574 8 641

1 820 1 939

21.2 22.4

37 699 38 294

6 454 6 996

17.1 18.3

230 376 231 866 233 702

23 466 24 272 25 301

10.2 10.5 10.8

49 923 50 025 50 265

2 510 2 504 2 591

5.0 5.0 5.2

8 885 9 058 9 236

2 004 2 171 2 288

22.6 24.0 24.8

38 575 38 913 39 328

7 105 7 225 7 356

18.4 18.6 18.7

1973 ................................. 1974 .................................

170 488 171 463

12 864 13 217

7.5 7.7

... 41 155

... 1 700

... 4.1

... 4 676

... 1 005

... 21.5

15 158 15 699

3 602 3 364

23.8 21.4

1975 1976 1977 1978 1979

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

172 417 173 235 173 563 174 731 178 814

14 883 14 025 13 802 13 755 14 419

8.6 8.1 8.0 7.9 8.1

41 447 41 437 41 338 41 574 42 527

2 036 1 759 1 750 1 790 1 810

4.9 4.2 4.2 4.3 4.3

4 786 4 849 5 156 5 236 5 473

1 079 1 059 1 039 1 047 1 062

22.5 21.8 20.2 20.0 19.4

16 879 17 912 19 114 20 410 21 638

3 746 3 959 3 825 3 957 4 179

22.2 22.1 20.0 19.4 19.3

1980 1981 1982 1983 1984

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

179 798 180 909 181 903 181 393 182 469

16 365 17 987 19 362 19 538 18 300

9.1 9.9 10.6 10.8 10.0

42 564 42 653 42 847 42 768 42 872

2 083 2 353 2 648 2 649 2 400

4.9 5.5 6.2 6.2 5.6

5 593 5 910 5 778 5 982 6 081

1 264 1 436 1 413 1 501 1 422

22.6 24.3 24.5 25.1 23.4

22 455 22 950 23 329 23 894 24 671

4 474 4 769 4 701 4 746 4 659

19.9 20.8 20.2 19.9 18.9

1985 1986 1987 1988 1989

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

183 455 184 119 184 936 185 961 186 979

17 839 17 244 16 029 15 565 15 599

9.7 9.4 8.7 8.4 8.3

43 036 43 370 43 422 43 591 43 710

2 316 2 081 1 847 1 763 1 798

5.4 4.8 4.3 4.0 4.1

6 180 6 255 6 287 6 287 6 255

1 460 1 542 1 443 1 426 1 355

23.6 24.7 23.0 22.7 21.7

25 544 25 525 26 439 27 552 28 055

4 789 4 668 4 613 4 746 4 466

18.7 18.3 17.4 17.2 15.9

1990 1991 1992 1993 1994

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

188 129 189 116 189 001 190 843 192 543

16 622 17 741 18 202 18 882 18 110

8.8 9.4 9.6 9.9 9.4

43 682 43 724 43 661 43 745 44 178

1 799 1 918 1 978 2 042 1 915

4.1 4.4 4.5 4.7 4.3

6 408 6 553 6 629 6 798 6 764

1 480 1 610 1 637 1 699 1 678

23.1 24.6 24.7 25.0 24.8

28 688 29 215 28 775 29 681 30 157

5 002 5 261 5 350 5 570 5 500

17.4 18.0 18.6 18.8 18.2

1995 1996 1997 1998 1999

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

190 951 191 459 191 859 192 754 192 565

16 267 16 462 16 491 15 799 14 735

8.5 8.6 8.6 8.2 7.7

43 771 43 276 43 427 43 669 44 443

1 664 1 628 1 501 1 639 1 474

3.8 3.8 3.5 3.8 3.3

6 792 6 875 6 826 6 909 6 770

1 463 1 538 1 598 1 428 1 248

21.5 22.4 23.4 20.7 18.4

30 586 31 410 32 049 32 573 33 189

5 303 5 455 5 632 5 352 5 412

17.3 17.4 17.6 16.4 16.3

2000 ................................. 2001 .................................

193 691 194 538

14 366 15 271

7.4 7.8

44 278 44 124

1 435 1 477

3.2 3.3

6 891 6 886

1 226 1 305

17.8 19.0

33 943 34 603

5 356 5 882

15.8 17.0

194 144 194 595 195 054

15 567 15 902 16 870

8.0 8.2 8.6

44 109 44 200 44 300

1 628 1 575 1 711

3.7 3.6 3.9

7 072 7 121 7 200

1 374 1 455 1 505

19.4 20.4 20.9

34 614 34 683 34 797

5 947 6 015 6 189

17.2 17.3 17.8

White Alone 2002 ................................. 2003 ................................. 2004 ................................. White, Not Hispanic

White Alone, Not Hispanic 2002 ................................. 2003 ................................. 2004 ................................. 1These

numbers and rates refer to families rather than people. . . . = Not available.

59

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY Table 3-7. Poverty Status by Type of Family, Race, and Hispanic Origin—Continued (Thousands of people or families, percent of population.) Married-couple families 1

All people Year, race, and Hispanic origin

Below poverty level Number of people

Number

Percent

Female householder, no husband present 1

Unrelated individuals

Below poverty level Number of families

Number

Percent

Below poverty level Number of families

Below poverty level Number

Number of people

Percent

Number

Percent

Black 1959 .................................

18 013

9 927

55.1

...

...

...

...

...

...

1 430

815

57.0

1966 1967 1968 1969

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

21 206 21 590 21 944 22 011

8 867 8 486 7 616 7 095

41.8 39.3 34.7 32.2

... 3 118 3 141 3 323

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

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

... 1 272 1 327 1 384

... 716 706 737

... 56.3 53.2 53.3

... ... ... 1 819

777 809 777 850

54.4 49.3 46.3 46.7

1970 1971 1972 1973 1974

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

22 515 22 784 23 144 23 512 23 699

7 548 7 396 7 710 7 388 7 182

33.5 32.5 33.3 31.4 30.3

3 301 3 289 3 233 3 360 3 357

... ... ... ... 435

... ... ... ... 13.0

1 535 1 642 1 822 1 849 1 934

834 879 972 974 1 010

54.3 53.5 53.3 52.7 52.2

1 791 1 884 2 028 2 183 2 359

865 866 870 828 927

48.3 46.0 42.9 37.9 39.3

1975 1976 1977 1978 1979

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

24 089 24 399 24 710 24 956 25 944

7 545 7 595 7 726 7 625 8 050

31.3 31.1 31.3 30.6 31.0

3 352 3 406 3 260 3 244 3 433

479 450 429 366 453

14.3 13.2 13.1 11.3 13.2

2 004 2 151 2 277 2 390 2 495

1 004 1 122 1 162 1 208 1 234

50.1 52.2 51.0 50.6 49.4

2 402 2 559 2 860 2 929 3 127

1 011 1 019 1 059 1 132 1 168

42.1 39.8 37.0 38.6 37.3

1980 1981 1982 1983 1984

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

26 408 26 834 27 216 27 678 28 087

8 579 9 173 9 697 9 882 9 490

32.5 34.2 35.6 35.7 33.8

3 392 3 535 3 486 3 454 3 469

474 543 543 535 479

14.0 15.4 15.6 15.5 13.8

2 634 2 605 2 734 2 871 2 964

1 301 1 377 1 535 1 541 1 533

49.4 52.9 56.2 53.7 51.7

3 208 3 277 3 051 3 287 3 501

1 314 1 296 1 229 1 338 1 255

41.0 39.6 40.3 40.7 35.8

1985 1986 1987 1988 1989

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

28 485 28 871 29 362 29 849 30 332

8 926 8 983 9 520 9 356 9 302

31.3 31.1 32.4 31.3 30.7

3 680 3 742 3 681 3 722 3 750

447 403 439 421 443

12.2 10.8 11.9 11.3 11.8

2 874 2 967 3 089 3 223 3 275

1 452 1 488 1 577 1 579 1 524

50.5 50.1 51.1 49.0 46.5

3 641 3 714 3 977 4 095 4 180

1 264 1 431 1 471 1 509 1 471

34.7 38.5 37.0 36.8 35.2

1990 1991 1992 1993 1994

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

30 806 31 313 32 411 32 910 33 353

9 837 10 242 10 827 10 877 10 196

31.9 32.7 33.4 33.1 30.6

3 569 3 631 3 777 3 715 3 842

448 399 490 458 336

12.6 11.0 13.0 12.3 8.7

3 430 3 582 3 738 3 828 3 716

1 648 1 834 1 878 1 908 1 715

48.1 51.2 50.2 49.9 46.2

4 244 4 505 4 410 4 608 4 649

1 491 1 590 1 569 1 541 1 617

35.1 35.3 35.6 33.4 34.8

1995 1996 1997 1998 1999

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

33 740 34 110 34 458 34 877 35 756

9 872 9 694 9 116 9 091 8 441

29.3 28.4 26.5 26.1 23.6

3 713 3 851 3 921 3 979 4 150

314 352 312 290 295

8.5 9.1 8.0 7.3 7.1

3 769 3 947 3 926 3 813 3 797

1 701 1 724 1 563 1 557 1 487

45.1 43.7 39.8 40.8 39.2

4 756 4 989 5 316 5 390 5 668

1 551 1 606 1 645 1 752 1 562

32.6 32.2 31.0 32.5 27.5

2000 ................................. 2001 .................................

35 425 35 871

7 982 8 136

22.5 22.7

4 214 4 234

266 328

6.3 7.8

3 785 3 838

1 300 1 351

34.3 35.2

5 885 5 873

1 702 1 692

28.9 28.8

35 678 35 989 36 423

8 602 8 781 9 000

24.1 24.4 24.7

4 165 4 146 4 183

331 321 380

7.9 7.8 9.1

4 003 3 986 3 991

1 433 1 473 1 500

35.8 36.9 37.6

5 858 6 034 6 200

1 800 1 781 1 790

30.7 29.5 28.9

37 207 37 503 38 016

8 884 9 108 9 393

23.9 24.3 24.7

4 268 4 259 4 275

340 331 388

8.0 7.8 9.1

4 072 4 068 4 084

1 454 1 496 1 535

35.7 36.8 37.6

6 034 6 194 6 395

1 851 1 814 1 836

30.7 29.3 28.7

1987 ................................. 1988 ................................. 1989 .................................

6 322 6 447 6 673

1 021 1 117 939

16.1 17.3 14.1

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

516 651 712

138 160 144

26.8 24.5 20.2

1990 1991 1992 1993 1994

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

7 014 7 192 7 779 7 434 6 654

858 996 985 1 134 974

12.2 13.8 12.7 15.3 14.6

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

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

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

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

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

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

668 785 828 791 696

124 209 193 228 179

18.5 26.6 23.3 28.8 25.7

1995 1996 1997 1998 1999

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

9 644 10 054 10 482 10 873 11 955

1 411 1 454 1 468 1 360 1 285

14.6 14.5 14.0 12.5 10.7

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

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

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

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

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

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

1 013 1 120 1 134 1 266 1 415

260 255 327 257 270

25.6 22.8 28.9 20.3 19.1

2000 ................................. 2001 .................................

12 672 12 465

1 258 1 275

9.9 10.2

... ...

... ...

... ...

... ...

... ...

... ...

1 588 1 682

350 393

22.0 23.4

11 541 11 856 12 301

1 161 1 401 1 209

10.1 11.8 9.8

2 286 2 497 2 560

135 200 147

5.9 8.0 5.7

337 348 347

48 83 48

14.2 23.8 13.8

1 613 1 494 1 479

390 375 391

24.2 25.1 26.4

12 487 12 891 13 356

1 243 1 527 1 303

10.0 11.8 9.8

2 344 2 576 2 649

137 203 150

5.9 7.9 5.7

354 378 385

51 89 54

14.3 23.5 14.1

1 708 1 590 1 603

417 402 420

24.4 25.3 26.2

Black Alone 2002 ................................. 2003 ................................. 2004 ................................. Black Alone or in Combination 2002 ................................. 2003 ................................. 2004 ................................. Asian and Pacific Islander

Asian Alone 2002 ................................. 2003 ................................. 2004 ................................. Asian Alone or in Combination 2002 ................................. 2003 ................................. 2004 .................................

1These numbers and rates refer to families rather than people.

. . . = Not available.

60

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-7. Poverty Status by Type of Family, Race, and Hispanic Origin—Continued (Thousands of people or families, percent of population.) Married-couple families 1

All people Year, race, and Hispanic origin

Below poverty level Number of people

Number

Percent

Female householder, no husband present 1

Unrelated individuals

Below poverty level Number of families

Number

Percent

Below poverty level Number of families

Below poverty level Number

Number of people

Percent

Number

Percent

Hispanic (of any race) 1972 ................................. 1973 ................................. 1974 .................................

10 588 10 795 11 201

2 414 2 366 2 575

22.8 21.9 23.0

... 1 876 1 926

... 239 278

... 12.7 14.4

... 411 462

... 211 229

... 51.4 49.6

488 526 617

162 157 201

33.2 29.9 32.6

1975 1976 1977 1978 1979

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

11 117 11 269 12 046 12 079 13 371

2 991 2 783 2 700 2 607 2 921

26.9 24.7 22.4 21.6 21.8

1 896 1 978 2 104 2 089 2 282

335 312 280 248 298

17.7 15.8 13.3 11.9 13.1

522 517 561 542 610

279 275 301 288 300

53.6 53.1 53.6 53.1 49.2

645 716 797 886 991

236 266 237 264 286

36.6 37.2 29.8 29.8 28.8

1980 1981 1982 1983 1984

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

13 600 14 021 14 385 16 544 16 916

3 491 3 713 4 301 4 633 4 806

25.7 26.5 29.9 28.0 28.4

2 365 2 414 2 448 2 752 2 824

363 366 465 437 469

15.3 15.1 19.0 17.7 16.6

706 750 767 860 905

362 399 425 454 483

51.3 53.2 55.4 52.8 53.4

970 1 005 1 018 1 364 1 481

312 313 358 457 545

32.2 31.1 35.1 33.5 36.8

1985 1986 1987 1988 1989

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

18 075 18 758 19 395 20 064 20 746

5 236 5 117 5 422 5 357 5 430

29.0 27.3 28.0 26.7 26.2

2 962 3 118 3 196 3 398 3 395

505 518 556 547 549

17.0 16.6 17.4 16.1 16.2

980 1 032 1 082 1 112 1 116

521 528 565 546 530

53.1 51.2 52.2 49.1 47.5

1 602 1 685 1 933 1 864 2 045

532 553 598 597 634

33.2 32.8 31.0 32.0 31.0

1990 1991 1992 1993 1994

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

21 405 22 070 25 646 26 559 27 442

6 006 6 339 7 592 8 126 8 416

28.1 28.7 29.6 30.6 30.7

3 454 3 532 3 940 4 038 4 236

605 674 743 770 827

17.5 19.1 18.8 19.1 19.5

1 186 1 261 1 348 1 498 1 485

573 627 664 772 773

48.3 49.7 49.3 51.6 52.1

2 254 2 146 2 577 2 717 2 798

774 667 881 972 926

34.3 31.1 34.2 35.8 33.1

1995 1996 1997 1998 1999

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

28 344 29 614 30 637 31 515 34 632

8 574 8 697 8 308 8 070 7 876

30.3 29.4 27.1 25.6 22.7

4 247 4 520 4 804 4 945 5 273

803 815 836 775 758

18.9 18.0 17.4 15.7 14.4

1 604 1 617 1 612 1 728 1 827

792 823 767 756 717

49.4 50.9 47.6 43.7 39.3

2 947 2 985 2 976 3 218 3 481

1 092 1 066 1 017 1 097 1 068

37.0 35.7 34.2 34.1 30.7

2000 2001 2002 2003 2004

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

35 955 37 312 39 216 40 300 41 688

7 747 7 997 8 555 9 051 9 132

21.5 21.4 21.8 22.5 21.9

5 426 5 778 6 189 6 228 6 367

772 799 927 976 939

14.2 13.8 15.0 15.7 14.7

1 826 1 922 2 033 2 138 2 240

664 711 717 792 871

36.4 37.0 35.3 37.0 38.9

3 978 3 981 4 364 4 620 4 927

1 163 1 211 1 255 1 325 1 280

29.2 30.4 28.8 28.7 26.0

1These

numbers and rates refer to families rather than people. . . . = Not available.

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

61

Table 3-8. Poverty Status of People by Sex and Age (Thousands of people, percent of population.) Poverty status of people by sex Males below poverty level

Poverty status of people by age

Females below poverty level

Year Number (thousands)

1959 ......................................................

Poverty rate

Number (thousands)

Poverty rate

Children under 18 below poverty level Number (thousands)

Poverty rate

People 18 to 64 years old below poverty level Number (thousands)

Poverty rate

People 65 years and older below poverty level Number (thousands)

Poverty rate

...

...

...

...

17 552

27.3

16 457

17.0

5 481

35.2

1966 1967 1968 1969

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

12 225 11 813 10 793 10 292

13.0 12.5 11.3 10.6

16 265 15 951 14 578 13 978

16.3 15.8 14.3 13.6

12 389 11 656 10 954 9 691

17.6 16.6 15.6 14.0

11 007 10 725 9 803 9 669

10.5 10.0 9.0 8.7

5 114 5 388 4 632 4 787

28.5 29.5 25.0 25.3

1970 1971 1972 1973 1974

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

10 879 10 708 10 190 9 642 10 313

11.1 10.8 10.2 9.6 10.2

14 632 14 841 14 258 13 316 13 881

14.0 14.1 13.4 12.5 12.9

10 440 10 551 10 284 9 642 10 156

15.1 15.3 15.1 14.4 15.4

10 187 10 735 10 438 9 977 10 132

9.0 9.3 8.8 8.3 8.3

4 793 4 273 3 738 3 354 3 085

24.6 21.6 18.6 16.3 14.6

1975 1976 1977 1978 1979

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

10 908 10 373 10 340 10 017 10 535

10.7 10.1 10.0 9.6 10.0

14 970 14 603 14 381 14 480 14 810

13.8 13.4 13.0 13.0 13.2

11 104 10 273 10 288 9 931 10 377

17.1 16.0 16.2 15.9 16.4

11 456 11 389 11 316 11 332 12 014

9.2 9.0 8.8 8.7 8.9

3 317 3 313 3 177 3 233 3 682

15.3 15.0 14.1 14.0 15.2

1980 1981 1982 1983 1984

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

12 207 13 360 14 842 15 182 14 537

11.2 12.1 13.4 13.5 12.8

17 065 18 462 19 556 20 084 19 163

14.7 15.8 16.5 16.8 15.9

11 543 12 505 13 647 13 911 13 420

18.3 20.0 21.9 22.3 21.5

13 858 15 464 17 000 17 767 16 952

10.1 11.1 12.0 12.4 11.7

3 871 3 853 3 751 3 625 3 330

15.7 15.3 14.6 13.8 12.4

1985 1986 1987 1988 1989

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

14 140 13 721 14 029 13 599 13 366

12.3 11.8 12.0 11.5 11.2

18 923 18 649 18 518 18 146 18 162

15.6 15.2 15.0 14.5 14.4

13 010 12 876 12 843 12 455 12 590

20.7 20.5 20.3 19.5 19.6

16 598 16 017 15 815 15 809 15 575

11.3 10.8 10.6 10.5 10.2

3 456 3 477 3 563 3 481 3 363

12.6 12.4 12.5 12.0 11.4

1990 1991 1992 1993 1994

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

14 211 15 082 16 222 16 900 16 316

11.7 12.3 12.9 13.3 12.8

19 373 20 626 21 792 22 365 21 744

15.2 16.0 16.6 16.9 16.3

13 431 14 341 15 294 15 727 15 289

20.6 21.8 22.3 22.7 21.8

16 496 17 586 18 793 19 781 19 107

10.7 11.4 11.9 12.4 11.9

3 658 3 781 3 928 3 755 3 663

12.2 12.4 12.9 12.2 11.7

1995 1996 1997 1998 1999

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

15 683 15 611 15 187 14 712 14 079

12.2 12.0 11.6 11.1 10.4

20 742 20 918 20 387 19 764 18 712

15.4 15.4 14.9 14.3 13.2

14 665 14 463 14 113 13 467 12 280

20.8 20.5 19.9 18.9 17.1

18 442 18 638 18 085 17 623 17 289

11.4 11.4 10.9 10.5 10.1

3 318 3 428 3 376 3 386 3 222

10.5 10.8 10.5 10.5 9.7

2000 2001 2002 2003 2004

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

13 536 14 327 15 162 15 783 16 381

9.9 10.4 10.9 11.2 11.5

18 045 18 580 19 408 20 078 20 617

12.6 12.9 13.3 13.7 13.9

11 587 11 733 12 133 12 866 13 027

16.2 16.3 16.7 17.6 17.8

16 671 17 760 18 861 19 443 20 514

9.6 10.1 10.6 10.8 11.3

3 323 3 414 3 576 3 552 3 457

9.9 10.1 10.4 10.2 9.8

. . . = Not available.

62

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-9. Poverty Status of People Inside and Outside Metropolitan Areas, and People In and Near Poverty (Thousands of people, percent of population.) Inside metropolitan areas Year

1959 ........................................

Central city Number Poverty rate (thousands)

Outside metropolitan areas Outside central city

Total in and near poverty Near-poor (income below 1.25 times (income between 1 and the poverty level) 1.25 times poverty level)

Number Number Number Poverty rate Number Poverty rate Poverty rate (thousands) (thousands) (thousands) (thousands)

Percent

Number (thousands)

Percent

17 019

15.3

10 437

18.3

6 582

12.2

21 747

33.2

54 942

31.1

15 452

8.7

1960 1961 1962 1963 1964

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

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

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

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

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

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

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

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

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

54 560 54 280 53 119 50 778 49 819

30.4 30.0 28.8 27.1 26.3

14 709 14 652 14 494 14 342 13 764

8.2 8.1 7.9 7.7 7.3

1965 1966 1967 1968 1969

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

... ... 13 832 12 871 13 084

... ... 10.9 10.0 9.5

... ... 8 649 7 754 7 993

... ... 15.0 13.4 12.7

... ... 5 183 5 117 5 091

... ... 7.5 7.3 6.8

... ... 13 936 12 518 11 063

... ... 20.2 18.0 17.9

46 163 41 267 39 206 35 905 34 665

24.1 21.3 20.0 18.2 17.4

12 978 12 757 11 437 10 516 10 518

6.8 6.6 5.8 5.3 5.3

1970 1971 1972 1973 1974

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

13 317 14 561 14 508 13 759 13 851

10.2 10.4 10.3 9.7 9.7

8 118 8 912 9 179 8 594 8 373

14.2 14.2 14.7 14.0 13.7

5 199 5 649 5 329 5 165 5 477

7.1 7.2 6.8 6.4 6.7

12 103 10 999 9 952 9 214 9 519

16.9 17.2 15.3 14.0 14.2

35 624 36 501 34 653 32 828 33 666

17.6 17.8 16.8 15.8 16.1

10 204 10 942 10 193 9 855 10 296

5.0 5.3 4.9 4.7 4.9

1975 1976 1977 1978 1979

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

15 348 15 229 14 859 15 090 16 135

10.8 10.7 10.4 10.4 10.7

9 090 9 482 9 203 9 285 9 720

15.0 15.8 15.4 15.4 15.7

6 259 5 747 5 657 5 805 6 415

7.6 6.9 6.8 6.8 7.2

10 529 9 746 9 861 9 407 9 937

15.4 14.0 13.9 13.5 13.8

37 182 35 509 35 659 34 155 36 616

17.6 16.7 16.7 15.8 16.4

11 305 10 534 10 939 9 658 10 544

5.4 5.0 5.1 4.5 4.7

1980 1981 1982 1983 1984

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

18 021 19 347 21 247 21 750 ...

11.9 12.6 13.7 13.8 ...

10 644 11 231 12 696 12 872 ...

17.2 18.0 19.9 19.8 ...

7 377 8 116 8 551 8 878 ...

8.2 8.9 9.3 9.6 ...

11 251 12 475 13 152 13 516 ...

15.4 17.0 17.8 18.3 ...

40 658 43 748 46 520 47 150 45 288

18.1 19.3 20.3 20.3 19.4

11 386 11 926 12 122 11 847 11 588

5.1 5.3 5.3 5.1 5.0

1985 1986 1987 1988 1989

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

23 275 22 657 23 054 23 059 22 917

12.7 12.3 12.3 12.2 12.0

14 177 13 295 13 697 13 615 13 592

19.0 18.0 18.3 18.1 18.1

9 097 9 362 9 357 9 444 9 326

8.4 8.4 8.3 8.3 8.0

9 789 9 712 9 167 8 686 8 611

18.3 18.1 17.0 16.0 15.7

44 166 43 486 43 032 42 551 42 653

18.7 18.2 17.9 17.5 17.3

11 102 11 116 10 811 10 806 11 125

4.7 4.7 4.5 4.4 4.5

1990 1991 1992 1993 1994

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

24 510 26 827 28 380 29 615 29 610

12.7 13.7 14.2 14.6 14.2

14 254 15 314 16 346 16 805 16 098

19.0 20.2 20.9 21.5 20.9

10 255 11 513 12 034 12 810 13 511

8.7 9.6 9.9 10.3 10.3

9 075 8 881 9 634 9 650 8 449

16.3 16.1 16.9 17.2 16.0

44 837 47 527 50 592 51 801 50 401

18.0 18.9 19.7 20.0 19.3

11 252 11 819 12 578 12 536 12 342

4.5 4.7 4.9 4.8 4.7

1995 1996 1997 1998 1999

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

28 342 28 211 27 273 26 997 25 278

13.4 13.2 12.6 12.3 11.3

16 269 15 645 15 018 14 921 13 404

20.6 19.6 18.8 18.5 16.5

12 072 12 566 12 255 12 076 11 874

9.1 9.4 9.0 8.7 8.3

8 083 8 318 8 301 7 479 7 513

15.6 15.9 15.9 14.4 14.3

48 761 49 310 47 853 46 036 45 030

18.5 18.5 17.8 17.0 16.3

12 336 12 781 12 280 11 560 12 239

4.7 4.8 4.6 4.3 4.4

2000 2001 2002 2003 2004

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

24 603 25 446 27 096 28 367 ...

10.8 11.1 11.6 12.1 ...

13 257 13 394 13 784 14 551 ...

16.3 16.5 16.7 17.5 ...

11 346 12 052 13 311 13 816 ...

7.8 8.2 8.9 9.1 ...

6 978 7 460 7 474 7 495 ...

13.4 14.2 14.2 14.2 ...

43 612 45 320 47 084 48 687 49 666

15.6 16.1 16.5 16.9 17.1

12 030 12 413 12 514 12 826 12 669

4.3 4.4 4.4 4.5 4.4

. . . = Not available.

63

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY Table 3-10. Poor People 16 Years and Over by Work Experience (Thousands of people, percent of total poor people.) Worked Year

Total number of poor people, 16 years and over

Did not work

Worked year-round, full-time Number

Percent of total poor

Number

Percent of total poor

Worked less than year-round or full-time Number Number

Percent of total poor

Percent of total poor

1978 ...................................................... 1979 ......................................................

16 914 16 803

6 599 6 601

39.0 39.3

1 309 1 394

7.7 8.3

5 290 5 207

31.3 31.0

10 315 10 202

61.0 60.7

1980 1981 1982 1983 1984

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

18 892 20 571 22 100 22 741 21 541

7 674 8 524 9 013 9 329 8 999

40.6 41.4 40.8 41.0 41.8

1 644 1 881 1 999 2 064 2 076

8.7 9.1 9.0 9.1 9.6

6 030 6 643 7 014 7 265 6 923

31.9 32.3 31.7 31.9 32.1

11 218 12 047 13 087 13 412 12 542

59.4 58.6 59.2 59.0 58.2

1985 1986 1987 1988 1989

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

21 243 20 688 20 546 20 323 19 952

9 008 8 743 8 258 8 363 8 376

42.4 42.3 40.2 41.2 42.0

1 972 2 007 1 821 1 929 1 908

9.3 9.7 8.9 9.5 9.6

7 036 6 736 6 437 6 434 6 468

33.1 32.6 31.3 31.7 32.4

12 235 11 945 12 288 11 960 11 576

57.6 57.7 59.8 58.8 58.0

1990 1991 1992 1993 1994

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

21 242 22 530 23 951 24 832 24 108

8 716 9 208 9 739 10 144 9 829

41.0 40.9 40.6 40.8 40.8

2 076 2 103 2 211 2 408 2 520

9.8 9.3 9.2 9.7 10.5

6 640 7 105 7 528 7 736 7 309

31.3 31.5 31.4 31.2 30.3

12 526 13 322 14 212 14 688 14 279

59.0 59.1 59.3 59.1 59.2

1995 1996 1997 1998 1999

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

23 077 23 472 22 753 22 256 21 762

9 484 9 586 9 444 9 133 9 251

41.1 40.8 41.5 41.0 42.5

2 418 2 263 2 345 2 804 2 559

10.5 9.6 10.3 12.6 11.8

7 066 7 323 7 099 6 329 6 692

30.6 31.2 31.2 28.4 30.8

13 593 13 886 13 309 13 123 12 511

58.9 59.2 58.5 59.0 57.5

2000 2001 2002 2003 2004

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

21 080 22 245 23 601 24 266 25 228

8 511 8 530 8 954 8 820 9 383

40.4 38.3 37.9 36.3 37.2

2 439 2 567 2 635 2 636 2 896

11.6 11.5 11.2 10.9 11.5

6 072 5 963 6 318 6 183 6 487

28.8 26.8 26.8 25.5 25.7

12 569 13 715 14 647 15 446 15 845

59.6 61.7 62.1 63.7 62.8

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Section 3c: Alternative Measures and State Data Figure 3-3. Median Household Income: Official and Alternative, 1979–2003 (2003 dollars) 46,000

43,000

2003 dollars

64

40,000

37,000

1979

1984

1989

1994

1999

2003

Year Official Census cash income After-tax, including capital gains, health benefits, owner-occupied housing, noncash transfers, and tax credits

• The official income statistics just quoted are based on cash income before taxes. The Census Bureau has also developed a model and associated data to calculate alternative measures that define income more broadly and include the effects of taxes and in-kind transfer payments, such as food stamps. These estimates are available for the years 1979–2003 in 2003 dollars. The broadest alternative income measure is compared with the official measure (also in 2003 dollars) in Table 3-11 and Figure 3-3. As the graph indicates, other income sources, taxes, and transfers have mitigated some of the cyclical fluctuations in income during the period from 1979 to 2003. These sources have improved the record of real median income growth over that period, from 0.5 percent per year in the official numbers to 0.7 percent per year in the comprehensive numbers. (Table 3-11) • Cash transfers, which are dominated by Social Security, play a greater role in the reduction of poverty than the tax system, including the Earned Income Tax Credit, and noncash transfers, as can be seen by comparing the poverty rates using Definitions 1, 4, and 14. Using Definition 1, poverty is 12.5 percent under the official income definition, which includes cash transfers; it is 19.5 percent in Definition 4, which excludes cash transfers and includes only incomes generated by the economy as labor earnings and property incomes. Thus, the cash transfers accomplish a 7.0 percentage point reduction in poverty. The inclusion of tax payments and credits and noncash transfers, as in Definition 14, only lowers poverty from 12.5 percent to 9.7 percent, a reduction of 2.8 percentage points. (Table 3-11)

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

65

Table 3-11. Median Household Income and Poverty Rates for People, Based on Alternative Definitions of Income Definition 1, MI: Money income excluding capital gains (current official measure) Year

Definition 4: Money income before taxes and cash transfers, plus realized capital gains (losses) and health insurance supplements

Poverty rate (percent) Median income (2003 dollars)

Official threshold

Poverty rate (percent)

CPI-U-RS threshold 1

Gini coefficient

Median income (2003 dollars) 2

Official threshold

CPI-U-RS threshold 1

Gini coefficient

1979 ............................................................................

38 649

11.7

10.6

0.403

38 259

18.8

17.8

0.460

1980 1981 1982 1983 1984

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

37 447 36 868 36 811 36 826 37 767

13.0 14.0 15.0 15.2 14.4

11.5 12.2 13.2 13.7 12.8

0.401 0.404 0.409 0.412 0.413

36 346 35 544 35 118 35 570 36 739

20.1 21.1 22.0 21.8 20.8

19.0 19.8 20.6 20.6 19.5

0.462 0.466 0.475 0.478 0.477

1985 1986 1987 1988 1989

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

38 510 39 868 40 357 40 678 41 411

14.0 13.6 13.4 13.0 12.8

12.5 12.2 12.1 11.7 11.3

0.418 0.423 0.424 0.425 0.429

37 418 38 937 39 188 39 727 40 466

20.4 19.9 19.7 19.7 19.4

19.1 18.7 18.7 18.5 18.1

0.486 0.505 0.488 0.489 0.492

1990 1991 1992 1993 1994

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

40 865 39 679 39 364 39 165 39 613

13.5 14.2 14.8 15.1 14.5

11.9 12.4 13.1 13.4 12.6

0.426 0.425 0.430 0.448 0.450

39 348 38 086 37 679 37 554 38 438

19.9 21.1 22.1 22.6 22.0

18.7 19.7 20.6 21.1 20.3

0.487 0.490 0.497 0.514 0.515

1995 1996 1997 1998 1999

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

40 845 41 431 42 294 43 825 44 922

13.8 13.7 13.3 12.7 11.9

11.7 11.6 11.3 10.6 9.9

0.444 0.447 0.448 0.446 0.445

39 509 40 300 41 294 42 643 44 112

21.1 20.8 20.3 19.3 18.7

19.5 19.1 18.7 17.4 16.9

0.509 0.511 0.513 0.509 0.508

2000 2001 2002 2003

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

44 853 43 882 43 381 43 318

11.3 11.7 12.1 12.5

9.7 9.9 10.1 10.5

0.447 0.450 0.448 0.450

44 197 43 151 42 422 42 295

18.0 18.5 19.0 19.5

16.5 16.9 17.4 17.8

0.506 0.510 ... ...

Definition 14, MI - Tx + NC: Income after all taxes and transfers Year

Definition 15, MI - Tx + NC + HE: Income after all taxes and transfers, plus net imputed return on equity in own home

Poverty rate (percent) Median income (2003 dollars)

Official threshold

Poverty rate (percent)

CPI-U-RS threshold 1

Gini coefficient 3

Median income (2003 dollars)

Official threshold

CPI-U-RS threshold 1

Gini coefficient 3

1979 ............................................................................

35 435

8.9

7.9

0.359

37 776

7.5

6.7

0.352

1980 1981 1982 1983 1984

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

34 290 33 505 33 831 34 359 35 049

10.1 11.5 12.3 12.7 12.0

8.6 9.8 10.6 11.0 10.4

0.354 0.358 0.366 0.374 0.378

37 804 39 199 38 398 38 203 39 262

8.2 8.7 9.9 10.4 9.9

7.0 7.3 8.5 9.0 8.6

0.347 0.350 0.359 0.368 0.372

1985 1986 1987 1988 1989

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

35 709 37 197 37 696 37 796 38 556

11.7 11.3 11.0 10.8 10.4

10.1 9.8 9.5 9.4 8.8

0.385 0.409 0.382 0.385 0.389

39 410 40 026 41 065 41 195 41 662

9.9 10.1 9.7 9.4 9.1

8.6 8.6 8.2 8.2 7.6

0.381 0.404 0.380 0.384 0.387

1990 1991 1992 1993 1994

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

37 960 37 443 37 741 38 104 38 740

10.9 11.4 11.9 12.1 11.1

9.3 9.7 10.2 10.3 9.2

0.382 0.380 0.385 0.398 0.400

40 526 40 127 40 026 40 230 41 113

9.8 10.3 10.7 11.2 10.0

8.3 8.6 9.1 9.4 8.3

0.381 0.379 0.381 0.395 0.395

1995 1996 1997 1998 1999

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

39 922 40 295 40 985 42 459 43 328

10.3 10.2 10.0 9.5 8.9

8.5 8.4 8.2 7.7 7.2

0.394 0.398 0.403 0.405 0.408

42 263 42 444 43 000 44 302 45 354

9.4 9.3 9.2 8.8 8.2

7.6 7.6 7.5 7.1 6.5

0.388 0.392 0.397 0.399 0.402

2000 2001 2002 2003

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

43 285 43 369 43 155 43 629

8.8 9.0 9.3 9.7

7.2 7.3 7.7 7.9

0.410 0.412 0.394 0.394

45 634 45 126 44 884 45 154

8.0 8.3 8.6 9.0

6.5 6.7 7.1 7.4

0.402 0.407 0.388 0.390

Note: See notes and definitions for explanation of alternative definitions and thresholds and of the Gini coefficient. 1Before 1987, threshold based on CPI-U-X1. 2Years before 2002 linked by editor to Census 2002 figure based on changes in earlier Census 3Earlier years not comparable with 2002 and 2003 because of change in tax estimating model.

. . . = Not available.

estimates.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 3-4. Poverty Rate: Official, Alternative, and NAS-based Definitions of Income, 1979–2003 16

Percent of population

66

13

10

7

Official Census cash income NAS-based, MIT-GA-CPI After-tax, including capital gains, health benefits, owner-occupied housing, noncash transfers, and tax credits

1979

1984

1989

1994

1999

2003

Year

• Including the broader income definition and the effects of the earned income tax credit and noncash transfers, the poverty rate relative to the official poverty threshold is lower, as shown in Figure 3-4. (Table 3-11) • A panel of the National Academy of Sciences (NAS) has recommended that both thresholds and income definitions be adjusted, reflecting redefined poverty standards and comprehensive resources data. Census Bureau research following these recommendations has resulted in several alternative poverty rates, one of which is shown in Figure 3-4. This variation uses a poverty threshold calculated for 1999 and updated for each subsequent year using the CPI. It adds an estimated value for medical out-ofpocket expenses to the threshold, and it adjusts housing costs for geographic variation. It is slightly higher than the official rate and rises less between 1999 and 2003. (Table 3-12)

67

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

Table 3-12. Official and National Academy of Sciences (NAS)-Based Poverty Rates, 1999–2003 (Percent of population.) Measurement method

1999

2000

2001

2002 (old tax model) 2002 (new tax model)

2003

Official measure ..........................................................

11.9

11.3

11.7

12.1

12.1

12.5

MSI-GA-CPI ................................................................ MIT-GA-CPI ................................................................ CMB-GA-CPI ..............................................................

12.1 12.7 12.8

12.0 12.5 12.6

12.2 12.5 12.8

12.2 12.6 12.8

12.1 12.6 12.7

12.6 13.0 13.2

MSI-NGA-CPI ............................................................. MIT-NGA-CPI .............................................................. CMB-NGA-CPI ............................................................

12.2 12.8 12.9

12.1 12.7 12.8

12.3 12.7 12.9

12.3 12.9 12.9

12.3 12.8 12.9

12.7 13.2 13.3

MSI-GA-CE ................................................................. MIT-GA-CE ................................................................. CMB-GA-CE ...............................................................

12.1 12.7 12.8

12.3 12.8 12.8

12.9 13.2 13.1

13.3 13.9 13.6

13.2 13.7 13.4

13.7 14.2 14.1

MSI-NGA-CE .............................................................. MIT-NGA-CE ............................................................... CMB-NGA-CE .............................................................

12.2 12.8 12.9

12.5 13.0 13.0

13.0 13.4 13.2

13.5 14.1 13.8

13.4 13.9 13.7

13.9 14.5 14.3

Note: The Census Bureau changed the way it modeled taxes, effective with the revised 2002 estimates. Consequently, comparisons of 2002 and 2003 data with earlier years may be affected. MSI means "Medical out-of-pocket expenses subtracted from income." MIT means "Medical out-of-pocket expenses in the thresholds." CMB means "Combined method." GA means "Geographic adjustment (of poverty thresholds)." NGA means "No geographic adjustment (of poverty thresholds)." CPI means "Thresholds were adjusted since 1999 using the Consumer Price Index for All Urban Consumers." CE means "Thresholds were recomputed since 1999 using data from the Consumer Expenditure Survey." See notes and definitions for further explanation.

68

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 3-13. Comparison of NAS-Based and Official Poverty Rates by Selected Characteristics, 2003 (Percent of population.) Characteristic

Official poverty rate (no geographic adjustment)

NAS-based rate, MIT, CPI adjustment of 1999 thresholds Without geographic adjustment

With geographic adjustment

All people ..............................................................................................................

12.5

13.2

13.0

People in: Married-couple families ...................................................................................... Female householder, no husband present .........................................................

6.2 30.0

7.1 28.2

7.1 27.3

By age: Under 18 years ................................................................................................... 18 to 64 years .................................................................................................... 65 years and over ..............................................................................................

17.6 10.8 10.2

16.0 11.9 14.0

15.8 11.8 13.3

Race and Hispanic origin: White alone ........................................................................................................ Non-Hispanic White alone .............................................................................. Black alone ......................................................................................................... Asian alone ........................................................................................................ Hispanic (of any race) ........................................................................................

10.5 8.2 24.4 11.8 22.5

11.7 9.3 22.5 12.0 23.7

11.4 8.6 21.3 15.1 26.2

Region: Northeast ............................................................................................................ Midwest .............................................................................................................. South .................................................................................................................. West ...................................................................................................................

11.3 10.7 14.1 12.6

10.6 11.3 15.6 13.3

12.7 9.7 13.0 16.4

Note: MIT means "Medical out-of-pocket expenses in the thresholds."

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

69

Table 3-14. Median Income and Poverty Rates by State Median household money income (2004 dollars) State

3-year average median, 2002–2004

Poverty rate (percent)

2-year average 2002–2003

2003–2004

3-year average, 2002–2004

2-year average 2002–2003

2003–2004

United States ......................................................

44 473

44 514

44 436

12.4

12.3

12.6

Alabama ............................................................. Alaska ................................................................ Arizona ............................................................... Arkansas ............................................................ California ............................................................

38 111 54 627 42 590 33 948 49 894

38 877 54 332 42 004 33 441 50 226

37 418 54 224 43 017 33 913 49 927

15.5 9.2 13.8 17.6 13.2

14.7 9.2 13.5 18.8 13.1

16.0 9.4 13.9 16.4 13.2

Colorado ............................................................. Connecticut ........................................................ Delaware ............................................................ District of Columbia ............................................ Florida ................................................................

51 022 55 970 50 152 43 573 40 171

51 005 56 260 51 244 43 647 39 980

51 170 55 916 49 152 44 840 40 287

9.8 8.8 8.5 16.8 12.3

9.7 8.2 8.2 16.9 12.6

9.9 9.1 8.2 16.7 12.2

Georgia .............................................................. Hawaii ................................................................ Idaho .................................................................. Illinois ................................................................. Indiana ...............................................................

43 217 53 123 42 519 45 787 43 003

44 341 51 457 41 563 45 615 43 341

42 274 54 841 43 970 46 249 42 946

12.0 9.7 10.5 12.5 10.2

11.5 10.3 10.8 12.7 9.5

12.5 8.9 10.0 12.4 10.8

Iowa .................................................................... Kansas ............................................................... Kentucky ............................................................ Louisiana ............................................................ Maine .................................................................

43 042 43 725 37 396 35 523 39 395

42 807 45 094 38 272 35 065 38 410

43 004 43 204 36 786 35 424 39 737

9.7 10.7 15.4 17.0 12.2

9.1 10.4 14.3 17.2 12.5

9.9 11.1 16.0 16.8 11.6

Maryland ............................................................ Massachusetts ................................................... Michigan ............................................................. Minnesota ........................................................... Mississippi ..........................................................

56 763 52 354 44 476 55 914 33 659

56 485 52 346 45 550 55 809 33 023

55 519 52 347 44 280 55 184 34 269

8.6 9.8 12.1 7.0 17.7

8.0 10.1 11.5 6.9 17.2

9.2 9.7 12.3 7.2 17.3

Missouri .............................................................. Montana ............................................................. Nebraska ............................................................ Nevada .............................................................. New Hampshire ..................................................

43 988 35 201 44 623 46 984 57 352

44 935 35 808 45 054 46 811 57 585

43 516 34 506 44 458 46 864 56 973

10.9 14.3 9.9 10.2 5.7

10.3 14.3 10.2 9.9 5.8

11.5 14.6 9.6 10.9 5.6

New Jersey ........................................................ New Mexico ........................................................ New York ............................................................ North Carolina .................................................... North Dakota ......................................................

56 772 37 587 44 228 39 000 39 594

57 435 36 646 44 010 38 318 39 760

56 499 37 758 44 301 39 323 40 379

8.2 17.5 14.4 14.8 10.3

8.3 18.0 14.2 15.0 10.6

8.3 17.3 14.6 15.1 9.7

Ohio .................................................................... Oklahoma ........................................................... Oregon ............................................................... Pennsylvania ...................................................... Rhode Island ......................................................

44 160 38 281 42 617 44 286 46 199

44 762 37 581 43 333 44 363 45 234

43 822 38 274 41 971 44 109 47 021

10.8 12.6 11.7 10.4 11.3

10.3 13.5 11.7 10.0 11.3

11.3 11.8 12.1 10.9 11.5

South Carolina ................................................... South Dakota ..................................................... Tennessee ......................................................... Texas ................................................................. Utah ....................................................................

39 326 40 518 38 550 41 275 50 614

39 615 40 183 38 714 41 249 50 436

39 130 40 887 38 377 40 826 50 785

14.0 12.5 14.9 16.4 9.6

13.5 12.1 14.4 16.3 9.5

13.8 13.0 15.0 16.7 9.5

Vermont .............................................................. Virginia ............................................................... Washington ........................................................ West Virginia ...................................................... Wisconsin ........................................................... Wyoming ............................................................

45 692 53 275 48 688 32 589 47 220 43 641

44 795 54 194 48 123 32 241 47 865 42 733

45 955 53 847 49 302 33 465 46 722 44 577

8.8 9.8 11.7 16.1 10.2 9.6

9.2 10.0 11.8 17.1 9.2 9.4

8.2 9.7 12.0 15.8 11.0 9.9

70

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

category shown as “Asian” in Table 3-1 included Native Hawaiians and Other Pacific Islanders.

NOTES AND DEFINITIONS TABLES 3-1 THROUGH 3-14 INCOME DISTRIBUTION AND POVERTY SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

All data in this chapter are derived from the Current Population Survey (CPS), which is also the source of data on labor force, employment, and unemployment. (See the notes and definitions for Tables 10-1 through 10-5.) Early each year, the 60,000 households in this monthly survey are asked additional questions concerning earnings and other income in the previous year. This survey, informally known as the “March Supplement,” is now formally known as the Current Population Survey Annual Social and Economic Supplement (ASEC). It was previously called the Annual Demographic Supplement. The population represented by the survey is the civilian noninstitutional population of the United States and members of the armed forces in the United States living off post or with their families on post, but excluding all other members of the armed forces. As it is a survey of households, homeless persons are not included. Racial classification and Hispanic origin In 2002 and all earlier years, the CPS required respondents to report identification with only one race group. Since 2003, the CPS has allowed respondents to choose more than one race group. Income data for 2002 were collected in early 2003. Thus, in the data for 2002 and all subsequent years, one individual could report identification with more than one race group. In the 2000 census, about 2.6 percent of people reported more than one race. Therefore, data from 2002 onward that are classified by race are not strictly comparable with race-classified data for 2001 and earlier years. As alternative approaches to dealing with this problem, the Census Bureau has, in a number of cases, tabulated two different race concepts for each racial category. In the case of Blacks, for example, this means there is one income measure for “Black alone,” consisting of persons who report Black and no other race, and one for “Black alone or in combination” which includes all the “Black alone” reporters plus those who report Black in combination with any other race. The tables in this volume show separately both the “alone” and the “alone or in combination” values, where available. The racial classifications now used in the CPS are White; Black; Asian; American Indian and Alaska Native; and Native Hawaiian and Other Pacific Islander. The last two groups are too small to provide reliable data for a single year, but in a new Census Bureau table (reproduced here as Table 3-2), household income data for all five groups are presented in 2- and 3-year averages. Before 2002, the

Hispanic origin is a separate question in the survey—not a racial classification—and Hispanics may be of any race. A subgroup of White non-Hispanic is shown in some tables. According to the Census Bureau, “Being Hispanic was reported by 12.1 percent of White householders who reported only one race, 2.9 percent of Black householders who reported only one race, 27.7 percent of American Indian and Alaska Native householders who reported only one race, and 9.5 percent of Native Hawaiian and Other Pacific Islander householders who reported only one race.” (“Income, Poverty, and Health Insurance Coverage in the United States: 2004,” p. 1) In an earlier report, the Bureau also said, “Data users should exercise caution when interpreting aggregate results for the Hispanic population or for race groups, because these populations consist of many distinct groups that differ in socioeconomic characteristics, culture, and recency of immigration.” (“Income, Poverty, and Health Insurance Coverage in the United States: 2003,” pp. 1-2.) Definitions Households consists of all persons who occupy a housing unit. A household includes the related family members and all the unrelated persons, if any, such as lodgers, foster children, wards, or employees who share the housing unit. A person living alone in a housing unit or a group of unrelated persons sharing a housing unit as partners is also counted as a household. The count of households excludes group quarters. Earnings includes all income from work, including wages, salaries, armed forces pay, commissions, tips, piece-rate payments, and cash bonuses, before deductions such as taxes, bonds, pensions, and union dues. This category also includes net income from nonfarm self-employment and farm self-employment. Wage and salary supplements that are paid directly by the employer, such as Social Security taxes and the cost of employer-provided health insurance, are not included. A year-round, full-time worker is a person who worked 35 or more hours per week and 50 or more weeks during the previous calendar year. A family is a group of two or more persons related by birth, marriage, or adoption who reside together. Unrelated individuals are persons 15 years and over who are not living with any relatives. The poverty status of unrelated individuals is determined independently of income of other persons with whom they may share a household. Median income is the amount of income that divides the ranked income distribution into two equal groups, half having incomes above the median, half having incomes

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

below the median. The medians for persons are based on persons 15 years old and over with income. Where available, historical income figures are shown in constant 2004 dollars. Some data are shown in 2003 dollars because 2003 is the latest year for which the Census Bureau has provided the data. All constant-dollar figures are converted from current-dollar values using the CPIU-RS, which measures changes in prices for past periods using the methodologies of the current CPI, and is similar in concept and behavior to the deflators used in the NIPAs for consumer income and spending. See Chapter 8 for data and the notes and definitions on the CPI-U-RS. Mean income is the amount obtained by dividing the total aggregate income of a group by the number of units in that group. Income means are higher than medians because of the skewed nature of the income distribution; see the section “Whose standard of living?” in the article “Using the Data: The U.S. Economy in the New Century” at the beginning of this book. Income, in the official definition used in the survey, is money income, including earnings from work as defined earlier; unemployment compensation; workers’ compensation; Social Security; Supplemental Security Income; cash public assistance (welfare payments); veterans’ payments; survivor benefits; disability benefits; pension or retirement income; interest income; dividends (but not capital gains); rents, royalties, and payments from estates or trusts; educational assistance, such as scholarships or grants; child support; alimony; financial assistance from outside of the household; and other cash income regularly received, such as foster child payments, military family allotments, and foreign government pensions. Receipts not counted as income include capital gains or losses, withdrawals of bank deposits, money borrowed, tax refunds, gifts, and lump-sum inheritances or insurance payments. Income distribution Income distribution is portrayed by dividing the total ranked distribution of families or households into fifths or quintiles, and also by separately tabulating the top 5 percent (which is included in the highest fifth). The households or families are arrayed from those with the lowest income to those with the highest income, then divided into five groups each containing one-fifth of the total number of households. In Table 3-4, the upper limit of each household income quintile and the lower limit of the top 5 percent are shown. Within each quintile, incomes are summed and calculated as a share of total income for all quintiles, and can be averaged to show the average or mean income within that quintile; these means are shown for the family income distribution in Table 3-5. A statistical measure that summarizes the dispersion of income across the entire income distribution is the Gini

71

coefficient (also known as Gini ratio, Gini index, or index of income concentration), which can take values ranging from 0 to 1. A Gini value of 1 indicates “perfect” inequality: i.e., one household having all the income and the rest having none. A value of 0 indicates “perfect” equality: i.e., all households having equal shares of income. There are small differences between the Gini coefficients presented in the report’s main tables and those presented in the tables comparing alternative definitions of income. In the latter, the coefficients were recalculated, for comparability with the other income definitions, using a slightly different method. The poverty population is the number of people with family or individual incomes below a specified level that is intended to measure the cost of a minimum standard of living. These minimum levels vary by size and composition of family and are known as poverty thresholds. The official poverty thresholds are based on a definition developed by Mollie Orshansky of the Social Security Administration in 1964. They are adjusted each year for price increase, using the percent change in the Consumer Price Index for all urban consumers (CPI-U). For more information, see Gordon Fisher, “The Development of the Orshansky Thresholds and Their Subsequent History as the Official U.S. Poverty Measure,” available on the Census Bureau Web site at . The poverty rate for a demographic group is the number of poor people or families in that group expressed as a percentage of the total number of people or families in the group. Average poverty thresholds. The actual poverty thresholds used to calculate poverty rates vary not only with the size of the family but with the number of children in the family. For example, the threshold for a three-person family in 2004 was $14,776 if there were no children in the family but $15,219 if the family consisted of one adult and two children. For 2004, there are 48 different threshold values depending on size of household, number of children, and whether the householder is 65 or older (with lower thresholds for the older householders). The full matrix of thresholds is shown in the report referenced below. To give a general sense of the “poverty line,” the Census Bureau also publishes the average threshold for each size family, based on the actual mix of family types in that year. These are the values shown in Table 3-6 to represent the history of poverty thresholds. The average value for three-person families, as shown in Table 3-6, was $15,067, a weighted average of the values actually used for the three different possible family compositions. Metropolitan area status. Poverty status by residence, for people inside metropolitan areas and outside metropolitan areas, and with the metropolitan area group subdivided into central city and outside central city, is shown in Table 3-9. Data for 2004 are not available because the sample for that year is a mixture of both 1990-based sample

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

design and Census 2000-based sample design, which use different definitions of metropolitan areas. A person with work experience (Table 3-10) is one who, during the preceding calendar year, did any work for pay or profit or worked without pay on a family-operated farm or business at any time during the year, on a part-time or full-time basis. A year-round worker is one who worked for 50 weeks or more during the preceding calendar year. A person is classified as having worked full time if he or she worked 35 hours or more per week during a majority of the weeks worked. A year-round, full-time worker is a person who worked 35 or more hours per week and 50 or more weeks during the previous calendar year. Toward better measures of income and poverty The official poverty rate is defined by the Office of Management of Budget in the Executive Office of the President. Criticisms of this definition have been legion, and the Census Bureau has published extensive research work illustrating the effects of various ways of modifying income definitions and poverty thresholds. Some of the results of this work are published here in Tables 3-11 through 3-13 and explained in the notes and definitions below. Major types of criticism One strand of criticism has been to accept the general concept of the “Orshansky” threshold but to make the income definition more realistic by including capital gains, taxes and tax credits, noncash benefits provided by government and employers, and the value of homeownership. There is some debate whether it is appropriate to use income data augmented in this way in conjunction with the official thresholds. The original 1964 threshold was calculated by costing out a minimum food budget and multiplying its value by 3, based on a 1955 Department of Agriculture survey indicating that families spent roughly one-third of their income on food. This was based on cash income and did not take account of home ownership or employer-provided health benefits. Nevertheless, the Census Bureau now publishes (with some lag time) income and poverty figures based on broadened income definitions and the official thresholds; some of these are presented in Table 3-11 and described below. Still accepting the validity of the Orshansky threshold concept, some have argued that use of the CPI-U in the official measure to update the thresholds each year has overstated the price increase, and that an inflator such as the CPI-U-RS should be used instead. (See notes and definitions to Chapter 8.) Use of the CPI-U-RS leads to lower poverty thresholds beginning in the late 1970s, when the CPI began to be distorted by housing and other biases subsequently corrected by new methods. Table 3-11 also shows poverty rates using the lower CPI-U-RS thresholds.

A second strand of criticism argues that the official thresholds are no longer relevant to today’s needs, and that the concepts of both income or resources and the threshold levels depicting adequate standards of living need to be rethought. The Consumer Expenditure Survey (CEX), originally designed to provide the weights for the Consumer Price Index, is now conducted annually and provides extensive data on consumer spending patterns. It indicates that food now accounts for one-sixth, not one-third, of total family expenditures, even those of lowincome families. (For data and notes on the CEX, see Bernan Press, Handbook of U.S. Labor Statistics.) A special panel of the National Academy of Sciences (NAS) initiated such a study, and the Census Bureau now calculates and publishes poverty rates based on its recommendations, which are presented in Tables 3-12 and 3-13 and described below. Alternative definitions of income with Orshansky poverty thresholds The Census Bureau calculates “alternative” income and poverty measures based on a number of different definitions of income. In many cases, these measures require simulation—use of data from sources other than the CPS to estimate elements of family and individual income as reported in the CPS. Business Statistics shows in Table 3-11 median household income and poverty rates according to three of these alternative definitions, with the statistics according to the official definition also shown for comparison in the same table. They were updated through 2003 in two reports issued in June 2005 (see references below) and the income data are expressed in 2003 dollars. Definition 1, also known as “MI,” is the official Census definition of money income described above. Definition 4 is Definition 1 income minus government cash transfers (Social Security, unemployment compensation, workers’ compensation, veterans’ payments, railroad retirement, Black Lung payments, government education assistance, Supplemental Security Income, and welfare payments), plus realized capital gains and employers’ payments for health insurance coverage. Capital gains and health insurance are not collected in the CPS but are simulated using statistical data from the Internal Revenue Service and the National Medical Care Expenditure Survey. Definition 4 is, in effect, the income generated by the workings of the economy before government interventions in the form of taxes and transfer payments. Income according to this definition is only published for 2002 and 2003 by the Census Bureau in its latest report. It has been extended back to 1979 on an estimated 2003-dollar basis by the editor, using estimates published in earlier Census reports. Definition 14, also known as “MI – Tx + NC,” is income after all government income and earnings tax and transfer interventions. It consists of Definition 4 income minus payroll taxes and federal and state income taxes, plus the

CHAPTER 3: INCOME DISTRIBUTION AND POVERTY

Earned Income Credit; plus all of the cash transfers listed above as being subtracted from money income to yield Definition 4; plus the “fungible” value of Medicare and Medicaid (see below for definition); the value of regularprice school lunches provided by government; and the value of noncash transfers, including food stamps, rent subsidies, and free and reduced-price school lunches. The tax information is not collected in the CPS but is simulated using statistical data from the Internal Revenue Service, Social Security payroll tax formulas, and a model of each state’s income tax regulations. The “fungible” value approach to medical benefits counts such benefits as income only to the extent that they free up resources that would have been spent on medical care. Therefore, if family income is not sufficient to cover the family’s basic food and housing requirements, Medicare and Medicaid are treated as having no income value. Data on average Medicare and Medicaid outlays per enrollee are used in the valuation process. Food stamp values are reported in the March CPS. Estimates of other government subsidy payments use data from the Department of Agriculture (for school lunches) and the 1985 American Housing Survey. Definition 15 (“MI – Tx + NC + HE”) is Definition 14 income plus the net imputed return on equity in owneroccupied housing—the calculated annual benefit of converting one’s home equity into an annuity, net of property taxes. This concept can be thought of as measuring the extent to which equity in the home relieves the owner of the need for rental or mortgage payments. Information from the 1987 American Housing Survey is used to assign values of home equity and amounts of property taxes. Since disposable personal income in the NIPAs includes the imputed rent on owner-occupied housing plus most of the cash and in-kind transfers included in Definitions 14 and 15, Definition 15 is the Census income definition closest to the NIPA concept. For each of these income definitions, poverty rates are also calculated and shown in this table for the years through 2003 using poverty thresholds that have been adjusted for price increase using the CPI-U-RS. This eliminates a presumed upward bias in the poverty rate relative to the poverty rates estimated before the bias emerged. This is a bias in the behavior of the time series, not necessarily a bias in the level of poverty. As detailed below, there are other factors that can bias poverty thresholds and rates relative to some “real” definition of poverty. Measures based on NAS recommendations The alternative poverty rates shown in Table 3-11, using broader definitions of income and/or eliminating some price-index bias, seem to remedy some of the shortcomings of the official definition. However, they do not reflect the improved data now available that can be used

73

to measure need in a much more precise way than Mollie Orshansky’s method. The most recent calculations of experimental poverty measures that redefine both income and need are presented in “Alternative Poverty Estimates in the United States: 2003” (see below for complete reference), including data on experimental measures for 1999 through 2003 that use 12 different definitions. To derive these estimates, a baseline set of poverty thresholds for the year 1999, based on data from the CEX for the years 1997–1999, was developed as follows: • A reference family type was selected: a two-adult, twochild family falling between the 30th and 35th percentile of the distribution of expenditures in the CEX. The value of expenditures on the total of food, clothing, shelter, and utilities by such families was multiplied by about 1.23 to account for other necessities, not including health care. For health care, three different treatments were developed, which are described below. • Equivalence scale adjustments were used to convert the threshold for the reference family to thresholds for other family sizes and compositions, accounting for the differing needs of adults and children and the economies of scale of living in larger families. • For some of the experimental measures, thresholds were adjusted geographically to reflect differences in the cost of living (in practice, difference in housing costs) in different areas. The family incomes to be compared with these poverty thresholds were defined and measured to include the effects of all taxes, tax credits, and in-kind benefits such as food stamps, but not the value of homeownership, and to allow for expenses such as child care that are necessary to hold a job. The 12 measures shown in Table 3-12 are reprinted from Table B-3 in “Alternative Poverty Estimates in the United States: 2003.” The abbreviations in that table are as follows: • MSI indicates that in calculating the poverty rate, medical out-of-pocket expenses are subtracted from family income before comparing that income to the family’s threshold. • MIT indicates that poverty thresholds were increased to take the family’s potential medical out-of-pocket expenses into account, using the CEX and the 1996 Medical Expenditures Panel Survey, with the amounts depending on family size, age, and health insurance coverage. • CMB indicates that expected medical out-of-pocket expenses were included in the thresholds, and the difference between each family’s spending and the expected spending was subtracted from family income—and if the difference was negative, the amount added to income. This way, families that were “unexpectedly healthy” are classified as better off.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

• GA indicates that the thresholds were adjusted geographically. Measures labeled NGA were not. • CPI indicates that the thresholds established for 1999 were updated to the four succeeding years using the percent change in the CPI-U. This means that the threshold is held constant in real (inflation-adjusted) terms since 1999, just as the official threshold is intended to be held constant in real terms since 1964. • CE indicates that the thresholds were updated using median expenditures from the latest available 12 quarters of CEX data. This means that as the actual real living standards of the reference lower-middle income family rises (or falls) the real standard of living represented by the poverty thresholds will rise (or fall) commensurately.

With 1995 data, the 1990 census-based sample design was implemented and the sample was reduced by 7,000 households.

In Table 3-13, poverty rates for 2003 using one of the NAS-based concepts—adjustment with the CPI, with medical out-of-pocket expenses in the threshold—are shown with and without the geographic adjustment to demonstrate the impact of the new methods and the geographic adjustment.

Data availability

Notes on the data The following are the principal changes that may affect year-to-year comparability of income and poverty data from the CPS. Beginning in 1952, the estimates were based on 1950 census population controls. Earlier figures were based on the 1940 census. Beginning in 1962, 1960 census sample design and population controls were fully implemented. With 1971 and 1972 data, 1970 census sample design and population controls were introduced. With 1983–1985 data, 1980 census sample design was introduced; 1980 population controls were introduced, and these were extended back to 1979 data. With 1993 data, there was a major redesign of the CPS, including computer-assisted interviewing. The limits used to “code” reported income amounts were changed, resulting in reporting of higher income values for the highest income families and, consequently, an exaggerated year-to-year increase in income inequality. (It is possible that this jump actually reflects in one year an increase that had emerged more gradually, so that the distribution measures for 1993 and later years may be properly comparable with data for decades earlier even if they should not be directly compared with 1992.) In addition, 1990 census population controls were introduced, and these were extended back to the 1992 data.

Data for 2001 implemented population controls based on Census 2000, which were carried back to 1999. Data from 2000 forward also incorporate results from a 28,000household sample expansion. For more information on these and other changes that could affect comparability, see “Current Population Survey Technical Paper 63RV: Design and Methodology” (March 2002) and footnotes to CPS historical income tables, both available on the Census Web site at .

Data following the official definitions of income and poverty are published annually in late summer or early fall by the Bureau of the Census, as part of a series with the general title Current Population Reports: Consumer Income, P60. Most of the data in this chapter were derived from P60-229, “Income, Poverty, and Health Insurance Coverage in the United States, 2004,” August 2005. Alternative income and poverty estimates through 2003 were published in two reports, both issued in June 2005: P60-228, “Alternative Income Estimates in the United States: 2003,” and P60-227, “Alternative Poverty Estimates in the United States: 2003.” These reports and related data, including historical tabulations, used in Business Statistics are available on the Census Web site at , under the general headings of “Income” and “Poverty.” References Definitions and descriptions of the concepts and data of the official and alternative series are provided in the source documents listed above and in the references contained therein. Additional descriptive material on the NAS-based experimental poverty measures is found in the Census report P60-216, “Experimental Poverty Measures: 1999,” issued October 2001, available at , and in Kathleen S. Short and Thesia I. Garner, “A Decade of Experimental Poverty Thresholds 1990 to 2000, June 27, 2002,” available at .

CHAPTER 4: CONSUMER INCOME AND SPENDING

Figure 4-1. Personal Saving Rate, 1946–2004 (saving as a percent of disposable personal income) 12 10

Percent

8 6 4 2 0 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• The personal saving rate—saving as a percent of disposable income—averaged 8 percent to 10 percent for much of the postwar period, but commenced a marked downtrend around 1987, reaching 2.4 percent or less from 1999 through 2004. (Table 4-1) It should be noted that personal income does not, by definition, include any capital gains. Nevertheless, the taxes on realized capital gains are deducted to get after-tax income, along with all other income taxes. Capital gains are a source of spending power in addition to current disposable income; they can be converted into cash by asset sales, by refinancing, and by home equity loans. Capital gains on common stock and housing have been particularly strong in recent years. (Table 12-10) However, the smaller saving flow still contributes to the need for foreign financing to fill the gap between investment and national saving—even if individuals have accumulated more wealth than the saving data shown here suggest. (Table 5-1) • Labor compensation, excluding social insurance taxes, made up 60.4 percent of total personal income in 2004. This was about the same as in 2000 but down from 65.4 percent in 1948. (“Contributions for social insurance,” such as Social Security taxes, are excluded from both the numerator and the denominator of this percentage.) Transfer payments accounted for a rising share of personal income over the period. It should be noted that just as “consumption expenditures” in the national income and product accounts includes all spending financed by government health insurance programs such as Medicare and Medicaid, the transfer payment component of income (as defined here) includes the equivalent payments on behalf of persons by these same programs. Proprietors’ and rental income made up a declining share of personal income, while the shares of dividends and especially interest rose. (Table 4-1)

75

76

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 4-1. Personal Income and Its Disposition (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.1

Personal income Personal income receipts on assets Year and quarter Total

Compensation of employees, received

PropriRental etors’ income of income persons with IVA with and CCAdj CCAdj

Personal current transfer receipts Government social benefits to persons

Total

Personal interest income

Personal dividend income

Total Total

Social Security and Medicare

Government unemployment insurance

Veterans

Family assistance

Other

1946 1947 1948 1949

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

178.6 191.0 209.8 207.1

119.6 130.1 141.9 141.9

35.6 34.5 39.3 34.7

7.1 7.2 7.9 8.2

12.3 13.9 15.1 16.0

6.7 7.6 8.1 8.8

5.6 6.3 7.0 7.2

10.6 10.8 10.3 11.2

10.1 10.4 9.9 10.9

0.4 0.5 0.6 0.7

1.1 0.8 0.9 1.9

7.0 7.0 5.9 5.3

1.1 0.3 0.4 0.5

0.6 1.9 2.2 2.6

1950 1951 1952 1953 1954

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

229.0 258.0 275.4 291.9 294.5

155.3 181.4 196.2 210.3 209.2

37.6 42.7 43.1 42.1 42.3

9.2 10.1 11.2 12.5 13.5

18.6 19.1 19.9 21.6 23.2

9.7 10.5 11.3 12.7 14.0

8.8 8.6 8.6 8.9 9.3

14.0 11.4 11.9 12.5 14.3

13.4 10.5 11.0 11.7 13.7

1.0 1.9 2.2 3.0 3.6

1.5 0.9 1.1 1.0 2.2

7.7 4.6 4.3 4.1 4.2

0.6 0.6 0.5 0.5 0.6

2.7 2.6 2.9 3.0 3.2

1955 1956 1957 1958 1959

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

316.1 339.6 358.7 369.0 392.8

225.7 244.5 257.5 259.5 281.0

44.3 45.8 47.9 50.1 50.7

13.9 14.2 14.6 15.4 16.2

25.7 28.2 30.6 31.9 34.6

15.2 16.9 18.9 20.3 22.0

10.5 11.3 11.7 11.6 12.6

15.7 16.8 19.5 23.5 24.2

14.8 15.6 18.1 22.2 22.9

4.9 5.7 7.3 8.5 10.2

1.5 1.5 1.9 4.1 2.8

4.4 4.4 4.5 4.7 4.6

0.6 0.6 0.7 0.8 0.9

3.3 3.4 3.7 4.1 4.5

1960 1961 1962 1963 1964

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

411.5 429.0 456.7 479.6 514.6

296.4 305.3 327.1 345.2 370.7

50.8 53.2 55.4 56.5 59.4

17.1 17.9 18.8 19.5 19.6

37.9 40.1 44.1 47.9 53.8

24.5 26.2 29.1 31.7 35.6

13.4 13.9 15.0 16.2 18.2

25.7 29.5 30.4 32.2 33.5

24.4 28.1 28.8 30.3 31.3

11.1 12.6 14.3 15.2 16.0

3.0 4.3 3.1 3.0 2.7

4.6 5.0 4.7 4.8 4.7

1.0 1.1 1.3 1.4 1.5

4.7 5.1 5.5 5.9 6.4

1965 1966 1967 1968 1969

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

555.7 603.9 648.3 712.0 778.5

399.5 442.7 475.1 524.3 577.6

63.9 68.2 69.8 74.3 77.4

20.2 20.8 21.2 20.9 21.2

59.4 64.1 69.0 75.2 84.1

39.2 43.4 47.5 51.6 59.9

20.2 20.7 21.5 23.5 24.2

36.2 39.6 48.0 56.1 62.3

33.9 37.5 45.8 53.3 59.0

18.1 20.8 25.8 30.5 33.1

2.3 1.9 2.2 2.1 2.2

4.9 4.9 5.6 5.9 6.7

1.7 1.9 2.3 2.8 3.5

7.0 8.1 9.9 11.9 13.4

1970 1971 1972 1973 1974

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

838.8 903.5 992.7 1 110.7 1 222.6

617.2 658.3 725.1 811.3 890.7

78.4 84.8 95.9 113.5 113.1

21.4 22.4 23.4 24.3 24.3

93.5 101.0 109.6 124.7 146.4

69.2 75.9 82.8 94.8 113.2

24.3 25.0 26.8 29.9 33.2

74.7 88.1 97.9 112.6 133.3

71.7 85.4 94.8 108.6 128.6

38.6 44.7 49.8 60.9 70.3

4.0 5.8 5.7 4.4 6.8

7.7 8.8 9.7 10.4 11.8

4.8 6.2 6.9 7.2 8.0

16.6 20.0 22.7 25.7 31.7

1975 1976 1977 1978 1979

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

1 335.0 1 474.8 1 633.2 1 837.7 2 062.2

949.0 1 059.2 1 180.4 1 335.8 1 501.0

119.5 132.2 145.7 166.6 180.1

23.7 22.3 20.7 22.1 23.8

162.2 178.4 205.3 234.8 274.7

129.3 139.5 160.6 184.0 217.3

32.9 39.0 44.7 50.7 57.4

170.0 184.0 194.2 209.6 235.3

163.1 177.3 189.1 203.2 227.1

81.5 93.3 105.3 116.9 132.5

17.6 15.8 12.7 9.1 9.4

14.5 14.4 13.8 13.9 14.4

9.3 10.1 10.6 10.8 11.1

40.2 43.7 46.7 52.5 59.6

1980 1981 1982 1983 1984

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

2 307.9 2 591.3 2 775.3 2 960.7 3 289.5

1 651.8 1 825.7 1 925.9 2 043.0 2 255.4

174.1 183.0 176.3 192.5 243.3

30.0 38.0 38.8 37.8 40.2

338.7 421.9 488.4 529.6 607.9

274.7 348.3 410.8 446.3 517.2

64.0 73.6 77.6 83.3 90.6

279.5 318.4 354.8 383.7 400.1

270.8 307.2 342.4 369.9 380.4

154.8 182.1 204.6 222.2 237.8

15.7 15.6 25.1 26.2 15.9

15.0 16.1 16.4 16.6 16.4

12.5 13.1 12.9 13.8 14.5

72.8 80.2 83.4 91.0 95.9

1985 1986 1987 1988 1989

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

3 526.7 3 722.4 3 947.4 4 253.7 4 587.8

2 424.9 2 570.1 2 750.2 2 967.2 3 145.2

262.3 275.7 302.2 341.6 363.3

41.9 33.5 33.5 40.6 43.1

654.0 695.5 717.0 769.3 878.0

556.6 589.5 604.9 639.5 720.2

97.4 106.0 112.2 129.7 157.8

424.9 451.0 467.6 496.6 543.4

402.6 428.0 447.4 476.0 519.9

253.0 268.9 282.6 300.2 325.6

15.7 16.3 14.5 13.2 14.3

16.7 16.7 16.6 16.9 17.3

15.2 16.1 16.4 16.9 17.5

102.0 109.9 117.3 128.8 145.3

1990 1991 1992 1993 1994

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

4 878.6 5 051.0 5 362.0 5 558.5 5 842.5

3 338.2 3 445.3 3 651.2 3 794.9 3 979.6

380.6 377.1 427.6 453.8 473.3

50.7 60.3 78.0 95.6 119.7

924.0 932.0 910.9 901.8 950.8

755.2 751.7 723.4 699.6 716.8

168.8 180.3 187.4 202.2 234.0

595.2 666.4 749.4 790.1 827.3

573.1 648.5 729.8 775.7 812.2

351.8 381.7 414.4 443.4 475.4

18.0 26.6 38.9 34.1 23.5

17.8 18.3 19.3 20.1 20.1

19.2 21.1 22.2 22.8 23.2

166.2 200.8 234.9 255.3 270.0

1995 1996 1997 1998 1999

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

6 152.3 6 520.6 6 915.1 7 423.0 7 802.4

4 177.0 4 386.9 4 664.6 5 020.1 5 352.0

492.1 543.2 576.0 627.8 678.3

122.1 131.5 128.8 137.5 147.3

1 016.4 1 089.2 1 181.7 1 283.2 1 264.2

763.2 793.0 848.7 933.2 928.6

253.2 296.2 333.0 349.9 335.6

877.4 925.0 951.2 978.6 1 022.1

858.4 902.1 931.8 952.6 988.0

506.8 537.7 563.2 575.1 588.9

21.4 22.0 19.9 19.5 20.3

20.9 21.7 22.5 23.4 24.3

22.6 20.3 17.9 17.4 17.9

286.7 300.4 308.3 317.3 336.7

2000 2001 2002 2003 2004

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

8 429.7 8 724.1 8 881.9 9 169.1 9 713.3

5 782.7 5 942.1 6 091.2 6 321.1 6 687.6

728.4 771.9 768.4 810.2 889.6

150.3 167.4 152.9 131.7 134.2

1 387.0 1 380.0 1 333.2 1 338.7 1 396.5

1 011.0 1 011.0 936.1 917.6 905.9

376.1 369.0 397.2 421.1 490.6

1 084.0 1 193.9 1 286.2 1 344.0 1 427.5

1 041.6 1 143.9 1 248.9 1 313.5 1 394.5

620.8 668.5 707.5 739.3 789.3

20.3 31.7 53.2 52.8 36.0

25.1 26.7 29.6 32.0 34.2

18.4 18.1 17.7 18.4 18.5

357.0 398.9 440.9 471.1 516.5

2002 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

8 814.7 8 892.0 8 895.4 8 925.5

6 025.3 6 091.5 6 114.5 6 133.4

763.0 763.5 769.1 778.1

172.1 167.7 142.9 129.2

1 340.6 1 336.5 1 327.4 1 328.5

960.1 942.4 923.3 918.4

380.5 394.1 404.1 410.0

1 260.9 1 284.0 1 292.7 1 307.1

1 218.6 1 245.4 1 257.3 1 274.2

698.4 704.5 710.3 716.7

42.8 60.1 56.8 53.1

28.8 29.4 29.9 30.4

17.7 17.6 17.6 17.8

430.9 433.8 442.7 456.2

2003 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

9 013.7 9 118.6 9 215.4 9 328.7

6 209.0 6 288.0 6 360.1 6 427.4

778.3 801.4 821.1 840.0

137.7 125.4 120.4 143.2

1 334.6 1 340.5 1 337.6 1 342.1

920.6 922.6 915.1 912.2

414.0 417.9 422.4 429.9

1 319.8 1 336.9 1 356.8 1 362.3

1 288.2 1 306.1 1 326.7 1 333.0

726.6 736.0 742.6 751.9

51.1 54.5 54.4 51.3

31.5 31.9 32.2 32.3

18.1 18.3 18.5 18.5

460.8 465.4 479.1 478.9

2004 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

9 484.8 9 614.3 9 729.2 10 024.8

6 526.7 6 603.6 6 724.2 6 895.8

870.2 898.4 889.1 900.9

144.2 141.8 122.1 128.7

1 350.4 1 363.9 1 378.2 1 493.6

906.6 905.1 904.7 907.4

443.9 458.8 473.5 586.2

1 399.6 1 419.8 1 441.5 1 449.2

1 370.6 1 390.8 1 397.1 1 419.5

772.9 784.9 793.7 805.5

43.1 35.3 33.3 32.4

33.8 34.0 34.4 34.8

18.4 18.5 18.5 18.6

502.4 518.3 517.1 528.2

CHAPTER 4: CONSUMER INCOME AND SPENDING

77

Table 4-1. Personal Income and Its Disposition—Continued (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.) Personal income —Continued

NIPA Table 2.1

Less: Personal outlays

Equals: Personal saving

Personal current transfer payments

Year and quarter

Personal current transfer receipts —Cont. From business (net)

Less: Contributions for government social insurance

Less: Personal current taxes

Equals: Disposable personal income

Total

Personal consumption expenditures

Personal interest payments

Total

To the rest To of the world government (net)

Billions of dollars

Disposable personal income, Percent of billions of disposable chained personal (2000) income dollars

1946 1947 1948 1949

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

0.4 0.4 0.4 0.4

6.6 5.6 4.6 4.9

17.2 19.8 19.2 16.7

161.4 171.2 190.6 190.4

145.9 163.8 177.3 180.9

144.3 162.0 175.0 178.5

0.7 0.9 1.3 1.6

0.9 0.9 1.0 0.8

0.2 0.2 0.3 0.3

0.7 0.7 0.7 0.5

15.5 7.4 13.4 9.5

9.6 4.3 7.0 5.0

1 132.7 1 090.3 1 148.4 1 155.8

1950 1951 1952 1953 1954

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

0.6 0.9 0.9 0.8 0.6

5.5 6.6 6.9 7.1 8.1

18.9 27.1 32.0 33.2 30.2

210.1 231.0 243.4 258.6 264.3

195.0 211.5 222.9 237.1 244.3

192.2 208.5 219.5 233.1 240.0

2.0 2.2 2.6 3.2 3.4

0.8 0.7 0.8 0.9 0.9

0.3 0.3 0.4 0.4 0.4

0.4 0.4 0.4 0.5 0.5

15.1 19.5 20.5 21.5 20.0

7.2 8.4 8.4 8.3 7.6

1 260.0 1 297.3 1 339.4 1 404.5 1 422.1

1955 1956 1957 1958 1959

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

0.9 1.2 1.4 1.2 1.3

9.1 10.0 11.4 11.4 13.8

32.9 36.6 38.9 38.5 42.3

283.3 303.0 319.8 330.5 350.5

263.6 277.2 292.8 302.2 323.9

258.8 271.7 286.9 296.2 317.6

4.0 4.6 4.9 5.0 5.5

0.8 1.0 1.1 1.0 0.8

0.4 0.5 0.6 0.6 0.3

0.4 0.5 0.5 0.4 0.5

19.7 25.8 27.0 28.3 26.7

6.9 8.5 8.5 8.6 7.6

1 516.7 1 589.7 1 628.5 1 642.6 1 715.5

1960 1961 1962 1963 1964

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

1.3 1.4 1.5 1.9 2.2

16.4 17.0 19.1 21.7 22.4

46.1 47.3 51.6 54.6 52.1

365.4 381.8 405.1 425.1 462.5

338.8 349.6 371.3 391.8 421.7

331.7 342.1 363.3 382.7 411.4

6.2 6.5 7.0 7.9 8.9

0.8 1.0 1.1 1.2 1.3

0.3 0.5 0.5 0.5 0.6

0.5 0.5 0.5 0.7 0.7

26.7 32.2 33.8 33.3 40.8

7.3 8.4 8.3 7.8 8.8

1 759.7 1 819.2 1 908.2 1 979.1 2 122.8

1965 1966 1967 1968 1969

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

2.3 2.1 2.3 2.8 3.3

23.4 31.3 34.9 38.7 44.1

57.7 66.4 73.0 87.0 104.5

498.1 537.5 575.3 625.0 674.0

455.1 493.1 520.9 572.2 621.4

443.8 480.9 507.8 558.0 605.2

9.9 10.7 11.1 12.2 14.0

1.4 1.6 2.0 2.0 2.2

0.6 0.8 1.0 1.0 1.1

0.8 0.8 1.0 1.0 1.1

43.0 44.4 54.4 52.8 52.5

8.6 8.3 9.5 8.4 7.8

2 253.3 2 371.9 2 475.9 2 588.0 2 668.7

1970 1971 1972 1973 1974

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

2.9 2.7 3.1 3.9 4.7

46.4 51.2 59.2 75.5 85.2

103.1 101.7 123.6 132.4 151.0

735.7 801.8 869.1 978.3 1 071.6

666.2 721.2 791.9 875.6 958.0

648.5 701.9 770.6 852.4 933.4

15.2 16.6 18.1 19.8 21.2

2.6 2.8 3.1 3.4 3.4

1.3 1.5 1.8 1.8 2.1

1.3 1.3 1.4 1.5 1.3

69.5 80.6 77.2 102.7 113.6

9.4 10.1 8.9 10.5 10.6

2 781.7 2 907.9 3 046.5 3 252.3 3 228.5

1975 1976 1977 1978 1979

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

6.8 6.7 5.1 6.5 8.2

89.3 101.3 113.1 131.3 152.7

147.6 172.3 197.5 229.4 268.7

1 187.4 1 302.5 1 435.7 1 608.3 1 793.5

1 061.9 1 180.2 1 310.4 1 465.8 1 634.4

1 034.4 1 151.9 1 278.6 1 428.5 1 592.2

23.7 23.9 27.0 31.9 36.2

3.8 4.4 4.8 5.4 5.9

2.5 3.0 3.5 3.9 4.3

1.3 1.3 1.3 1.5 1.6

125.6 122.3 125.3 142.5 159.1

10.6 9.4 8.7 8.9 8.9

3 302.6 3 432.2 3 552.9 3 718.8 3 811.2

1980 1981 1982 1983 1984

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

8.6 11.2 12.4 13.8 19.7

166.2 195.7 208.9 226.0 257.5

298.9 345.2 354.1 352.3 377.4

2 009.0 2 246.1 2 421.2 2 608.4 2 912.0

1 807.5 2 001.8 2 150.4 2 374.8 2 597.3

1 757.1 1 941.1 2 077.3 2 290.6 2 503.3

43.6 49.3 59.5 69.2 77.0

6.8 11.4 13.6 15.0 16.9

5.0 6.0 7.1 8.1 9.2

1.8 5.5 6.6 6.9 7.8

201.4 244.3 270.8 233.6 314.8

10.0 10.9 11.2 9.0 10.8

3 857.7 3 960.0 4 044.9 4 177.7 4 494.1

1985 1986 1987 1988 1989

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

22.3 22.9 20.2 20.6 23.5

281.4 303.4 323.1 361.5 385.2

417.4 437.3 489.1 505.0 566.1

3 109.3 3 285.1 3 458.3 3 748.7 4 021.7

2 829.3 3 016.7 3 216.9 3 475.8 3 734.5

2 720.3 2 899.7 3 100.2 3 353.6 3 598.5

90.4 96.1 93.6 96.8 108.2

18.6 20.9 23.1 25.4 27.8

10.4 12.0 13.2 14.8 16.5

8.2 9.0 9.9 10.6 11.4

280.0 268.4 241.4 272.9 287.1

9.0 8.2 7.0 7.3 7.1

4 645.2 4 791.0 4 874.5 5 082.6 5 224.8

1990 1991 1992 1993 1994

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

22.2 17.9 19.6 14.4 15.1

410.1 430.2 455.0 477.7 508.2

592.8 586.7 610.6 646.6 690.7

4 285.8 4 464.3 4 751.4 4 911.9 5 151.8

3 986.4 4 140.1 4 385.4 4 627.9 4 902.4

3 839.9 3 986.1 4 235.3 4 477.9 4 743.3

116.1 118.5 111.8 107.3 112.8

30.4 35.6 38.3 42.7 46.3

18.4 22.6 26.0 28.5 30.9

12.0 13.0 12.3 14.2 15.4

299.4 324.2 366.0 284.0 249.5

7.0 7.3 7.7 5.8 4.8

5 324.2 5 351.7 5 536.3 5 594.2 5 746.4

1995 1996 1997 1998 1999

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

19.0 22.9 19.4 26.0 34.1

532.8 555.2 587.2 624.2 661.4

744.1 832.1 926.3 1 027.0 1 107.5

5 408.2 5 688.5 5 988.8 6 395.9 6 695.0

5 157.3 5 460.0 5 770.5 6 119.1 6 536.4

4 975.8 5 256.8 5 547.4 5 879.5 6 282.5

132.7 150.3 163.9 174.5 181.0

48.9 52.9 59.2 65.2 73.0

32.6 34.9 38.2 40.6 44.7

16.2 18.0 21.0 24.6 28.3

250.9 228.4 218.3 276.8 158.6

4.6 4.0 3.6 4.3 2.4

5 905.7 6 080.9 6 295.8 6 663.9 6 861.3

2000 2001 2002 2003 2004

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

42.4 50.0 37.3 30.5 33.0

702.7 731.1 750.0 776.6 822.2

1 235.7 1 237.3 1 051.8 999.9 1 049.1

7 194.0 7 486.8 7 830.1 8 169.2 8 664.2

7 025.6 7 354.5 7 645.3 7 996.3 8 512.5

6 739.4 7 055.0 7 350.7 7 709.9 8 214.3

204.7 212.2 196.4 183.2 186.7

81.5 87.2 98.2 103.3 111.5

50.0 54.2 58.2 62.1 68.6

31.5 33.0 40.0 41.2 42.9

168.5 132.3 184.7 172.8 151.8

2.3 1.8 2.4 2.1 1.8

7 194.0 7 333.3 7 562.2 7 741.8 8 004.3

2002 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

42.3 38.6 35.4 32.9

747.1 751.1 751.1 750.9

1 063.2 1 050.3 1 050.0 1 043.8

7 751.5 7 841.7 7 845.4 7 881.7

7 526.1 7 620.5 7 692.4 7 742.4

7 230.3 7 323.0 7 396.6 7 453.1

199.2 200.6 197.0 188.8

96.6 96.8 98.9 100.5

57.0 57.8 58.6 59.4

39.5 39.0 40.2 41.1

225.4 221.2 153.0 139.3

2.9 2.8 2.0 1.8

7 549.9 7 585.2 7 555.5 7 559.3

2003 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

31.6 30.8 30.1 29.3

765.8 773.6 780.7 786.3

1 024.3 1 026.9 940.8 1 007.6

7 989.4 8 091.7 8 274.6 8 321.0

7 835.4 7 922.1 8 069.5 8 158.4

7 555.2 7 635.3 7 782.4 7 866.6

179.3 184.8 185.2 183.4

101.0 102.0 101.9 108.4

60.2 61.3 62.6 64.2

40.8 40.7 39.3 44.2

154.0 169.6 205.1 162.6

1.9 2.1 2.5 2.0

7 605.5 7 690.5 7 826.2 7 844.8

2004 1st quarter ............ 2nd quarter ........... 3rd quarter ............ 4th quarter ............

29.0 28.9 44.4 29.8

806.3 813.0 825.9 843.5

1 009.6 1 034.0 1 058.4 1 094.3

8 475.3 8 580.3 8 670.9 8 930.4

8 319.4 8 439.1 8 566.3 8 725.0

8 032.3 8 145.6 8 263.2 8 416.1

178.0 182.2 190.3 196.2

109.2 111.3 112.8 112.7

66.1 67.8 69.4 71.0

43.0 43.5 43.4 41.7

155.8 141.2 104.6 205.4

1.8 1.6 1.2 2.3

7 915.1 7 938.8 7 993.3 8 169.2

78

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 4-2. Personal Consumption Expenditures: Current Dollars, Constant Dollars, and Price Indexes (Billions of dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 2.3.4, 2.3.5, 2.3.6

Personal consumption expenditures Current dollars

Year and quarter Total

Durable goods

Chained (2000) dollars

Nondurable goods

Services

Durable goods

Total

Nondurable goods

Chain-type price indexes (2000 = 100) Services

Total

Durable goods

Nondurable goods

Services

1946 1947 1948 1949

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

144.3 162.0 175.0 178.5

15.8 20.4 22.9 25.1

82.7 90.9 96.6 94.9

45.8 50.7 55.6 58.6

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

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

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

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

14.2 15.7 16.6 16.5

34.3 37.2 39.1 39.6

16.8 18.9 20.1 19.4

9.8 10.4 10.9 11.2

1950 1951 1952 1953 1954

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

192.2 208.5 219.5 233.1 240.0

30.7 29.9 29.3 32.7 31.9

98.2 109.2 114.7 117.8 119.7

63.3 69.5 75.4 82.5 88.4

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

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

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

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

16.7 17.8 18.2 18.4 18.6

39.8 42.5 42.9 42.5 41.6

19.5 21.1 21.3 21.2 21.3

11.6 12.1 12.6 13.2 13.6

1955 1956 1957 1958 1959

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

258.8 271.7 286.9 296.2 317.6

38.8 38.1 40.0 37.4 42.7

124.7 130.8 137.1 141.7 148.5

95.2 102.8 109.8 117.0 126.5

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

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

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

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

18.7 19.1 19.6 20.1 20.4

41.4 42.5 44.1 44.9 45.7

21.2 21.5 22.1 22.6 22.8

13.9 14.3 14.7 15.1 15.5

1960 1961 1962 1963 1964

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

331.7 342.1 363.3 382.7 411.4

43.3 41.8 46.9 51.6 56.7

152.8 156.6 162.8 168.2 178.6

135.6 143.8 153.6 162.9 176.1

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

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

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

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

20.8 21.0 21.2 21.5 21.8

45.4 45.6 45.8 45.9 46.1

23.1 23.2 23.4 23.7 24.0

15.9 16.2 16.5 16.7 17.0

1965 1966 1967 1968 1969

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

443.8 480.9 507.8 558.0 605.2

63.3 68.3 70.4 80.8 85.9

191.5 208.7 217.1 235.7 253.1

189.0 203.8 220.3 241.6 266.1

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

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

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

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

22.1 22.7 23.2 24.2 25.3

45.7 45.5 46.2 47.7 49.1

24.4 25.2 25.8 26.8 28.1

17.3 17.8 18.3 19.1 20.1

1970 1971 1972 1973 1974

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

648.5 701.9 770.6 852.4 933.4

85.0 96.9 110.4 123.5 122.3

272.0 285.5 308.0 343.1 384.5

291.5 319.5 352.2 385.8 426.6

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

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

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

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

26.4 27.6 28.5 30.1 33.2

50.1 52.0 52.5 53.3 56.7

29.4 30.4 31.4 33.8 38.7

21.2 22.3 23.3 24.4 26.3

1975 1976 1977 1978 1979

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

1 034.4 1 151.9 1 278.6 1 428.5 1 592.2

133.5 158.9 181.2 201.7 214.4

420.7 458.3 497.1 550.2 624.5

480.2 534.7 600.2 676.6 753.3

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

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

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

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

36.0 37.9 40.4 43.2 47.1

61.8 65.3 68.1 72.0 76.8

41.7 43.3 45.9 49.0 54.1

28.6 30.6 32.9 35.5 38.3

1980 1981 1982 1983 1984

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

1 757.1 1 941.1 2 077.3 2 290.6 2 503.3

214.2 231.3 240.2 280.8 326.5

696.1 758.9 787.6 831.2 884.6

846.9 950.8 1 049.4 1 178.6 1 292.2

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

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

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

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

52.1 56.7 59.9 62.4 64.8

83.3 88.9 92.4 94.2 95.6

60.4 65.1 67.0 68.4 70.0

42.3 46.7 50.5 53.8 56.7

1985 1986 1987 1988 1989

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

2 720.3 2 899.7 3 100.2 3 353.6 3 598.5

363.5 403.0 421.7 453.6 471.8

928.7 958.4 1 015.3 1 083.5 1 166.7

1 428.1 1 538.3 1 663.3 1 816.5 1 960.0

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

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

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

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

66.9 68.6 70.9 73.8 77.0

96.6 97.7 100.5 101.9 103.7

71.5 71.3 73.7 76.2 79.8

59.3 62.0 64.3 67.5 70.7

1990 1991 1992 1993 1994

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

3 839.9 3 986.1 4 235.3 4 477.9 4 743.3

474.2 453.9 483.6 526.7 582.2

1 249.9 1 284.8 1 330.5 1 379.4 1 437.2

2 115.9 2 247.4 2 421.2 2 571.8 2 723.9

4 770.3 4 778.4 4 934.8 5 099.8 5 290.7

453.5 427.9 453.0 488.4 529.4

1 484.0 1 480.5 1 510.1 1 550.4 1 603.9

2 851.7 2 900.0 3 000.8 3 085.7 3 176.6

80.5 83.4 85.8 87.8 89.7

104.6 106.1 106.8 107.8 110.0

84.2 86.8 88.1 89.0 89.6

74.2 77.5 80.7 83.3 85.7

1995 1996 1997 1998 1999

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

4 975.8 5 256.8 5 547.4 5 879.5 6 282.5

611.6 652.6 692.7 750.2 817.6

1 485.1 1 555.5 1 619.0 1 683.6 1 804.8

2 879.1 3 048.7 3 235.8 3 445.7 3 660.0

5 433.5 5 619.4 5 831.8 6 125.8 6 438.6

552.6 595.9 646.9 720.3 804.6

1 638.6 1 680.4 1 725.3 1 794.4 1 876.6

3 259.9 3 356.0 3 468.0 3 615.0 3 758.0

91.6 93.5 95.1 96.0 97.6

110.7 109.5 107.1 104.2 101.6

90.6 92.6 93.8 93.8 96.2

88.3 90.8 93.3 95.3 97.4

2000 2001 2002 2003 2004

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

6 739.4 7 055.0 7 350.7 7 709.9 8 214.3

863.3 883.7 923.9 950.1 987.8

1 947.2 2 017.1 2 079.6 2 189.0 2 368.3

3 928.8 4 154.3 4 347.2 4 570.8 4 858.2

6 739.4 6 910.4 7 099.3 7 306.6 7 588.6

863.3 900.7 964.8 1 028.5 1 089.9

1 947.2 1 986.7 2 037.1 2 101.8 2 200.4

3 928.8 4 023.2 4 100.4 4 183.9 4 310.9

100.0 102.1 103.5 105.5 108.2

100.0 98.1 95.8 92.4 90.6

100.0 101.5 102.1 104.2 107.6

100.0 103.3 106.0 109.2 112.7

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 230.3 7 323.0 7 396.6 7 453.1

915.2 918.9 940.1 921.5

2 044.9 2 078.9 2 085.1 2 109.7

4 270.2 4 325.2 4 371.4 4 421.8

7 042.2 7 083.5 7 123.2 7 148.2

948.4 956.9 983.4 970.4

2 026.8 2 033.4 2 035.0 2 053.1

4 069.4 4 095.7 4 109.0 4 127.4

102.7 103.4 103.8 104.3

96.5 96.0 95.6 94.9

100.9 102.2 102.5 102.8

104.9 105.6 106.4 107.1

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 555.2 7 635.3 7 782.4 7 866.6

919.7 942.2 974.7 963.6

2 156.0 2 153.1 2 213.5 2 233.6

4 479.5 4 540.0 4 594.2 4 669.5

7 192.2 7 256.8 7 360.7 7 416.4

979.1 1 014.0 1 061.0 1 060.0

2 069.5 2 079.1 2 121.2 2 137.3

4 146.5 4 169.7 4 190.2 4 229.4

105.1 105.2 105.7 106.1

93.9 92.9 91.8 90.9

104.2 103.6 104.4 104.5

108.0 108.9 109.6 110.4

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 032.3 8 145.6 8 263.2 8 416.1

974.2 974.6 993.8 1 008.6

2 302.7 2 355.2 2 378.4 2 437.1

4 755.4 4 815.9 4 891.0 4 970.4

7 501.4 7 536.6 7 617.5 7 698.8

1 071.6 1 072.5 1 100.4 1 115.1

2 171.9 2 186.1 2 206.9 2 236.5

4 269.0 4 288.6 4 324.0 4 362.1

107.1 108.1 108.5 109.3

90.9 90.9 90.3 90.4

106.0 107.7 107.8 109.0

111.4 112.3 113.1 114.0

. . . = Not available.

CHAPTER 4: CONSUMER INCOME AND SPENDING

79

Table 4-3. Personal Consumption Expenditures by Major Type of Product (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.3.5

Durable goods Year and quarter

Personal consumption expenditures, total

Total

Nondurable goods

Motor Furniture and Other durable vehicles and household goods parts equipment

Total

Food

Clothing and Gasoline and shoes oil

Fuel oil and coal

Other nondurable goods

1946 1947 1948 1949

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

144.3 162.0 175.0 178.5

15.8 20.4 22.9 25.1

4.1 6.6 8.0 10.6

8.4 10.6 11.5 11.3

3.2 3.3 3.4 3.2

82.7 90.9 96.6 94.9

47.4 52.3 54.2 52.5

18.2 18.8 20.1 19.3

3.4 4.0 4.8 5.3

2.5 3.0 3.4 3.1

11.3 12.8 14.1 14.7

1950 1951 1952 1953 1954

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

192.2 208.5 219.5 233.1 240.0

30.7 29.9 29.3 32.7 31.9

13.7 12.2 11.4 13.9 12.8

13.7 14.1 14.0 14.7 14.8

3.3 3.6 3.9 4.1 4.3

98.2 109.2 114.7 117.8 119.7

53.9 60.7 64.1 65.4 66.8

19.6 21.3 22.0 22.2 22.3

5.5 6.1 6.8 7.4 7.8

3.4 3.5 3.5 3.4 3.5

15.8 17.6 18.4 19.4 19.3

1955 1956 1957 1958 1959

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

258.8 271.7 286.9 296.2 317.6

38.8 38.1 40.0 37.4 42.7

17.7 15.8 17.6 15.1 18.9

16.4 17.3 17.2 16.9 18.1

4.6 5.0 5.2 5.4 5.7

124.7 130.8 137.1 141.7 148.5

68.6 71.4 75.1 77.9 80.6

23.3 24.4 24.5 24.9 26.4

8.6 9.4 10.2 10.6 11.3

3.8 3.9 4.1 4.2 4.0

20.4 21.7 23.2 24.2 26.1

1960 1961 1962 1963 1964

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

331.7 342.1 363.3 382.7 411.4

43.3 41.8 46.9 51.6 56.7

19.7 17.8 21.5 24.4 26.0

18.0 18.3 19.3 20.7 23.2

5.7 5.7 6.1 6.6 7.5

152.8 156.6 162.8 168.2 178.6

82.3 84.0 86.1 88.2 93.5

27.0 27.6 29.0 29.8 32.4

12.0 12.0 12.6 13.0 13.6

3.8 3.8 3.8 4.0 4.1

27.7 29.2 31.4 33.1 35.0

1965 1966 1967 1968 1969

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

443.8 480.9 507.8 558.0 605.2

63.3 68.3 70.4 80.8 85.9

29.9 30.3 30.0 36.1 38.4

25.1 28.2 30.0 32.9 34.7

8.2 9.8 10.4 11.8 12.9

191.5 208.7 217.1 235.7 253.1

100.7 109.3 112.4 122.2 131.5

34.1 37.4 39.2 43.2 46.5

14.8 16.0 17.1 18.6 20.5

4.4 4.7 4.8 4.7 4.6

37.6 41.4 43.5 47.0 50.2

1970 1971 1972 1973 1974

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

648.5 701.9 770.6 852.4 933.4

85.0 96.9 110.4 123.5 122.3

35.5 44.5 51.1 56.1 49.5

35.7 37.8 42.4 47.9 51.5

13.7 14.6 16.9 19.5 21.3

272.0 285.5 308.0 343.1 384.5

143.8 149.7 161.4 179.6 201.8

47.8 51.7 56.4 62.5 66.0

21.9 23.2 24.4 28.1 36.1

4.4 4.6 5.1 6.3 7.8

54.1 56.4 60.8 66.6 72.7

1975 1976 1977 1978 1979

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

1 034.4 1 151.9 1 278.6 1 428.5 1 592.2

133.5 158.9 181.2 201.7 214.4

54.8 71.3 83.5 93.1 93.5

54.5 60.2 67.2 74.3 82.7

24.2 27.4 30.5 34.3 38.2

420.7 458.3 497.1 550.2 624.5

223.2 242.5 262.6 289.6 324.7

70.8 76.6 84.1 94.3 101.2

39.7 43.0 46.9 50.1 66.2

8.4 10.1 11.1 11.5 14.4

78.5 86.0 92.4 104.7 118.0

1980 1981 1982 1983 1984

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

1 757.1 1 941.1 2 077.3 2 290.6 2 503.3

214.2 231.3 240.2 280.8 326.5

87.0 95.8 102.9 126.5 152.1

86.7 92.1 93.4 106.6 119.0

40.5 43.4 43.9 47.7 55.4

696.1 758.9 787.6 831.2 884.6

356.0 383.5 403.4 423.8 447.4

107.3 117.2 120.5 130.9 142.5

86.7 97.9 94.1 93.1 94.6

15.4 15.8 14.5 13.6 13.9

130.6 144.5 155.2 169.8 186.3

1985 1986 1987 1988 1989

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

2 720.3 2 899.7 3 100.2 3 353.6 3 598.5

363.5 403.0 421.7 453.6 471.8

175.9 194.1 195.0 209.4 215.3

128.5 143.0 153.4 163.7 171.6

59.0 66.0 73.2 80.5 84.9

928.7 958.4 1 015.3 1 083.5 1 166.7

467.6 492.0 515.2 553.5 591.6

152.1 163.1 174.4 185.5 198.9

97.2 80.1 85.4 88.3 98.6

13.6 11.3 11.2 11.7 11.9

198.2 211.9 229.1 244.5 265.7

1990 1991 1992 1993 1994

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

3 839.9 3 986.1 4 235.3 4 477.9 4 743.3

474.2 453.9 483.6 526.7 582.2

212.8 193.5 213.0 234.0 260.5

171.6 171.7 178.7 193.4 213.4

89.8 88.7 91.9 99.3 108.3

1 249.9 1 284.8 1 330.5 1 379.4 1 437.2

636.8 657.5 669.3 691.9 720.6

204.1 208.7 221.9 229.9 238.1

111.2 108.5 112.4 114.1 116.2

12.9 12.4 12.2 12.4 12.8

285.0 297.8 314.7 331.1 349.5

1995 1996 1997 1998 1999

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

4 975.8 5 256.8 5 547.4 5 879.5 6 282.5

611.6 652.6 692.7 750.2 817.6

266.7 284.9 305.1 336.1 370.8

228.6 242.9 256.2 273.1 293.9

116.3 124.8 131.4 141.0 153.0

1 485.1 1 555.5 1 619.0 1 683.6 1 804.8

740.9 768.7 796.2 829.8 873.1

241.7 250.2 258.1 270.9 286.3

120.2 130.4 134.4 122.4 137.9

13.1 14.3 13.3 11.5 11.9

369.2 391.9 416.9 449.0 495.6

2000 2001 2002 2003 2004

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

6 739.4 7 055.0 7 350.7 7 709.9 8 214.3

863.3 883.7 923.9 950.1 987.8

386.5 407.9 429.3 439.1 441.8

312.9 312.1 323.1 330.3 354.1

163.9 163.7 171.6 180.7 191.9

1 947.2 2 017.1 2 079.6 2 189.0 2 368.3

925.2 967.9 1 001.9 1 048.5 1 134.7

297.7 297.7 303.5 310.8 329.0

175.7 171.6 164.5 192.6 230.4

15.8 15.4 14.2 17.0 19.5

532.9 564.4 595.5 620.0 654.8

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 230.3 7 323.0 7 396.6 7 453.1

915.2 918.9 940.1 921.5

422.8 422.4 446.6 425.2

322.0 324.9 322.2 323.3

170.4 171.6 171.4 173.0

2 044.9 2 078.9 2 085.1 2 109.7

993.3 1 000.3 1 002.4 1 011.6

303.6 303.8 300.2 306.5

146.7 167.2 170.1 174.1

12.7 14.1 14.4 15.8

588.7 593.5 598.0 601.7

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 555.2 7 635.3 7 782.4 7 866.6

919.7 942.2 974.7 963.6

427.2 438.1 454.6 436.4

319.5 325.9 335.3 340.6

173.1 178.3 184.8 186.6

2 156.0 2 153.1 2 213.5 2 233.6

1 026.6 1 033.7 1 058.9 1 074.9

302.8 307.0 316.1 317.3

199.9 185.2 194.9 190.6

18.1 16.1 16.7 17.3

608.6 611.1 626.9 633.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 032.3 8 145.6 8 263.2 8 416.1

974.2 974.6 993.8 1 008.6

437.0 432.4 444.9 452.8

347.2 351.7 356.9 360.6

189.9 190.5 192.0 195.2

2 302.7 2 355.2 2 378.4 2 437.1

1 106.5 1 124.8 1 141.0 1 166.4

326.7 325.7 328.3 335.2

211.3 234.9 229.0 246.5

18.0 18.2 20.3 21.4

640.1 651.5 659.9 667.6

80

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 4-3. Personal Consumption Expenditures by Major Type of Product—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.3.5 Services

Household operation

Year and quarter Total

Housing

Electricity and gas

Total

Other household operation

Transportation

Medical care

Recreation

Other services

1946 1947 1948 1949

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

45.8 50.7 55.6 58.6

14.2 16.0 17.9 19.6

6.8 7.5 8.1 8.6

2.1 2.3 2.6 2.9

4.7 5.1 5.5 5.6

4.9 5.2 5.7 5.8

4.9 5.7 6.5 6.7

3.7 3.8 3.8 3.8

11.3 12.5 13.6 14.0

1950 1951 1952 1953 1954

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

63.3 69.5 75.4 82.5 88.4

21.7 24.3 27.0 29.9 32.3

9.5 10.4 11.2 12.1 12.7

3.3 3.7 4.1 4.5 5.0

6.2 6.7 7.1 7.6 7.7

6.0 7.0 7.4 8.0 8.2

7.2 7.7 8.5 9.5 10.5

3.9 4.0 4.3 4.5 4.8

15.0 16.0 17.1 18.5 20.0

1955 1956 1957 1958 1959

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

95.2 102.8 109.8 117.0 126.5

34.4 36.7 39.3 42.0 45.0

14.2 15.4 16.4 17.5 18.7

5.5 6.1 6.5 7.1 7.6

8.7 9.3 9.9 10.4 11.1

8.6 9.2 9.7 9.9 10.6

11.2 12.1 13.4 14.8 16.4

5.2 5.6 5.6 5.8 6.4

21.7 23.8 25.4 27.0 29.4

1960 1961 1962 1963 1964

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

135.6 143.8 153.6 162.9 176.1

48.2 51.2 54.7 58.0 61.4

20.3 21.2 22.4 23.6 25.0

8.3 8.8 9.4 9.9 10.4

12.0 12.4 13.0 13.8 14.6

11.2 11.6 12.3 12.9 13.8

17.7 19.0 21.2 23.0 26.4

6.9 7.4 8.0 8.5 9.1

31.3 33.3 35.0 36.9 40.4

1965 1966 1967 1968 1969

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

189.0 203.8 220.3 241.6 266.1

65.4 69.5 74.1 79.8 86.9

26.5 28.1 30.0 32.3 35.0

10.9 11.5 12.2 13.0 14.1

15.6 16.6 17.8 19.2 21.0

14.7 15.9 17.4 19.3 21.6

28.6 31.5 34.7 40.1 45.8

9.6 10.4 11.1 12.5 13.8

44.2 48.4 53.0 57.7 62.9

1970 1971 1972 1973 1974

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

291.5 319.5 352.2 385.8 426.6

94.1 102.8 112.6 123.3 134.8

37.8 41.1 45.4 49.9 55.8

15.3 16.9 18.8 20.4 24.0

22.4 24.2 26.7 29.5 31.8

24.0 26.8 29.6 31.6 34.1

51.7 58.4 65.6 73.3 82.3

15.1 16.3 17.6 19.7 22.5

68.8 74.0 81.4 88.0 97.1

1975 1976 1977 1978 1979

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

480.2 534.7 600.2 676.6 753.3

147.7 162.2 180.2 202.4 227.3

64.0 72.5 81.8 91.2 100.3

29.2 33.2 38.5 43.0 47.8

34.8 39.3 43.3 48.2 52.5

37.9 42.5 48.7 53.4 59.9

95.6 109.1 125.3 143.1 161.0

25.4 28.4 31.4 34.7 38.8

109.7 120.1 132.8 151.8 166.2

1980 1981 1982 1983 1984

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

846.9 950.8 1 049.4 1 178.6 1 292.2

256.2 289.7 315.2 341.0 374.5

113.7 126.8 142.5 157.0 169.4

57.5 64.8 74.2 82.4 86.5

56.2 62.0 68.3 74.6 82.9

65.2 70.3 72.9 81.1 93.2

184.4 216.7 243.3 274.3 303.2

43.6 50.6 56.8 63.6 69.7

183.8 196.7 218.8 261.6 282.1

1985 1986 1987 1988 1989

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

1 428.1 1 538.3 1 663.3 1 816.5 1 960.0

412.7 448.4 483.7 521.5 557.4

181.8 187.7 195.4 207.3 221.1

90.8 89.2 90.9 96.3 101.0

91.1 98.5 104.5 111.0 120.0

104.5 111.1 120.9 133.4 142.0

331.5 357.5 392.2 442.8 492.5

77.7 83.7 90.0 102.1 114.3

319.8 349.9 381.2 409.4 432.8

1990 1991 1992 1993 1994

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

2 115.9 2 247.4 2 421.2 2 571.8 2 723.9

597.9 631.1 658.5 683.9 726.1

227.3 238.6 250.7 269.9 286.2

101.0 107.4 108.9 118.2 120.7

126.2 131.2 141.9 151.7 165.5

147.7 145.3 157.7 172.7 190.6

556.0 608.9 672.2 715.1 752.9

125.9 132.9 146.6 160.4 171.4

461.0 490.6 535.5 569.8 596.7

1995 1996 1997 1998 1999

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

2 879.1 3 048.7 3 235.8 3 445.7 3 660.0

764.4 800.1 842.6 894.6 948.4

298.7 318.5 337.0 350.5 364.8

122.2 129.4 131.3 129.8 130.6

176.5 189.1 205.6 220.7 234.1

207.7 226.5 245.7 259.5 276.4

797.9 833.5 873.0 921.4 961.1

187.9 202.5 215.1 229.3 248.6

622.5 667.6 722.4 790.5 860.7

2000 2001 2002 2003 2004

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

3 928.8 4 154.3 4 347.2 4 570.8 4 858.2

1 006.5 1 073.7 1 123.1 1 158.0 1 221.1

390.1 409.0 407.7 428.8 446.2

143.3 156.7 152.5 166.6 175.9

246.8 252.3 255.2 262.2 270.2

291.3 292.8 288.4 296.8 306.9

1 026.8 1 113.8 1 206.2 1 299.4 1 401.1

268.3 284.1 299.1 318.0 338.8

945.9 980.7 1 022.7 1 069.8 1 144.1

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 270.2 4 325.2 4 371.4 4 421.8

1 112.9 1 121.1 1 126.2 1 132.2

400.0 406.9 407.9 415.9

146.5 153.0 151.3 159.1

253.4 253.9 256.6 256.8

287.7 289.0 287.7 289.4

1 169.4 1 193.4 1 218.0 1 244.0

292.3 297.0 300.3 306.6

1 007.9 1 017.8 1 031.2 1 033.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 479.5 4 540.0 4 594.2 4 669.5

1 141.8 1 149.5 1 162.4 1 178.4

424.7 428.2 427.9 434.3

164.2 167.1 165.1 169.8

260.4 261.1 262.9 264.5

293.0 294.9 298.4 300.8

1 265.2 1 288.6 1 308.1 1 335.9

310.2 315.6 319.4 326.6

1 044.6 1 063.2 1 078.0 1 093.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 755.4 4 815.9 4 891.0 4 970.4

1 195.8 1 213.9 1 230.0 1 244.7

440.0 440.7 445.9 457.9

172.9 171.8 173.2 185.9

267.1 269.0 272.8 272.1

304.8 305.6 308.0 309.2

1 360.1 1 387.1 1 415.4 1 441.6

333.9 336.1 341.0 344.3

1 120.8 1 132.4 1 150.7 1 172.6

CHAPTER 4: CONSUMER INCOME AND SPENDING

81

Table 4-4. Chain-Type Quantity Indexes for Personal Consumption Expenditures by Major Type of Product (Index numbers, 2000 = 100, seasonally adjusted.)

NIPA Table 2.3.3

Durable goods Year and quarter

Personal consumption expenditures, total

Nondurable goods

Motor Furniture and Other durable vehicles and household goods parts equipment

Total

Total

Food

Clothing and Gasoline and shoes oil

Fuel oil and coal

Other nondurable goods

1946 1947 1948 1949

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

15.0 15.3 15.6 16.1

5.3 6.4 6.8 7.3

5.3 7.7 8.7 11.2

3.9 4.5 4.7 4.6

7.1 6.7 6.8 6.4

25.3 24.6 24.7 25.1

35.1 33.8 33.4 33.6

15.1 14.4 14.5 14.6

16.0 17.1 18.2 19.7

231.0 243.3 244.5 215.7

14.3 14.2 14.8 15.8

1950 1951 1952 1953 1954

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

17.1 17.4 17.9 18.8 19.2

8.9 8.1 7.9 8.9 8.9

14.4 12.2 11.0 13.6 13.0

5.6 5.3 5.4 5.6 5.8

6.8 6.9 7.4 7.7 8.1

25.9 26.6 27.6 28.5 28.9

34.3 35.2 36.4 37.7 38.5

15.0 14.9 15.7 15.9 15.9

20.5 22.3 24.1 25.4 26.2

231.8 231.2 224.7 217.2 221.4

17.0 17.7 18.5 19.2 19.1

1955 1956 1957 1958 1959

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

20.6 21.2 21.7 21.8 23.1

10.8 10.4 10.5 9.7 10.8

17.8 15.1 15.8 13.1 15.6

6.5 6.8 6.6 6.5 7.0

8.9 9.6 9.7 9.9 10.5

30.3 31.3 31.9 32.2 33.5

40.1 41.4 42.2 42.2 43.7

16.7 17.1 17.0 17.1 18.0

28.5 30.2 31.4 32.9 34.6

235.3 235.8 233.8 242.7 231.8

20.1 21.0 21.7 22.2 23.5

1960 1961 1962 1963 1964

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

23.7 24.2 25.4 26.4 28.0

11.0 10.6 11.9 13.0 14.2

16.6 14.9 17.7 20.0 21.1

6.9 7.0 7.5 8.0 9.0

10.4 10.3 11.0 11.7 13.1

34.0 34.6 35.7 36.5 38.2

44.0 44.5 45.1 45.6 47.4

18.2 18.5 19.4 19.7 21.3

35.8 36.1 37.7 38.8 40.9

222.0 211.4 210.9 221.3 230.0

24.6 25.9 27.7 29.0 30.3

1965 1966 1967 1968 1969

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

29.8 31.5 32.4 34.3 35.6

16.0 17.4 17.6 19.6 20.3

24.5 25.0 24.4 28.4 29.6

9.9 11.2 11.7 12.4 12.8

14.5 17.2 18.0 19.6 20.5

40.3 42.5 43.2 45.1 46.3

50.0 52.1 52.8 55.4 56.8

22.1 23.6 23.8 24.8 25.2

42.9 45.5 47.0 50.3 53.7

240.8 247.8 247.9 234.7 222.4

32.1 34.7 35.6 37.1 38.2

1970 1971 1972 1973 1974

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

36.4 37.8 40.1 42.0 41.7

19.6 21.6 24.3 26.8 25.0

26.6 31.7 36.3 39.6 32.8

12.9 13.4 14.9 16.5 16.7

21.5 21.8 24.6 27.7 28.5

47.4 48.3 50.4 52.1 51.0

58.5 59.1 61.0 61.2 60.2

24.9 26.1 27.9 29.8 29.4

57.0 59.8 62.2 65.4 62.2

206.9 199.9 219.7 238.6 188.3

39.5 39.7 41.8 44.6 44.5

1975 1976 1977 1978 1979

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

42.7 45.0 47.0 49.0 50.2

25.0 28.2 30.8 32.4 32.3

33.0 40.0 44.2 46.1 43.1

16.3 17.4 18.9 20.0 21.1

29.6 31.9 34.2 36.5 37.9

51.8 54.3 55.6 57.7 59.2

61.7 64.9 66.1 66.8 68.1

30.4 31.8 33.6 36.9 38.8

64.1 66.6 68.7 70.3 69.3

184.8 207.5 200.9 199.3 185.2

43.0 44.6 45.3 48.6 51.4

1980 1981 1982 1983 1984

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

50.1 50.8 51.5 54.4 57.3

29.8 30.1 30.1 34.5 39.6

37.3 38.1 39.1 46.7 54.5

20.7 20.7 20.3 23.1 25.8

35.1 35.6 35.0 37.0 42.4

59.1 59.8 60.4 62.4 64.9

68.7 68.8 69.9 71.9 73.5

39.7 42.2 42.8 46.0 49.9

65.4 66.3 67.2 68.7 70.8

143.2 120.1 111.5 111.6 111.2

52.2 53.3 53.0 54.3 57.4

1985 1986 1987 1988 1989

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

60.3 62.7 64.8 67.5 69.4

43.6 47.8 48.6 51.5 52.7

61.6 66.2 63.8 67.4 67.3

28.1 31.6 33.9 36.2 38.1

44.4 48.9 52.0 54.8 56.0

66.7 69.1 70.7 73.0 75.0

75.2 77.0 78.0 81.1 82.5

52.2 56.4 58.4 60.2 63.6

72.2 75.7 77.8 79.8 81.5

112.5 116.7 115.1 119.4 116.5

58.8 60.5 62.9 64.3 66.4

1990 1991 1992 1993 1994

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

70.8 70.9 73.2 75.7 78.5

52.5 49.6 52.5 56.6 61.3

66.3 58.6 63.4 67.1 71.5

38.3 38.7 40.8 45.1 50.1

56.6 54.1 55.0 59.2 63.6

76.2 76.0 77.6 79.6 82.4

84.8 84.7 85.2 86.7 88.8

63.2 63.4 66.9 69.7 73.4

80.8 79.9 83.1 85.2 86.3

105.8 104.8 107.3 109.6 114.9

67.7 67.4 68.7 71.1 74.6

1995 1996 1997 1998 1999

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

80.6 83.4 86.5 90.9 95.5

64.0 69.0 74.9 83.4 93.2

70.4 73.8 78.8 87.7 96.4

55.4 61.8 69.1 78.2 89.7

67.8 73.0 77.7 83.9 92.6

84.2 86.3 88.6 92.2 96.4

89.4 90.2 91.4 93.6 96.6

76.4 80.2 82.6 88.4 95.0

87.9 89.9 92.7 96.9 100.4

118.2 116.5 107.0 101.3 103.7

77.7 81.3 85.7 90.3 95.4

2000 2001 2002 2003 2004

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

100.0 102.5 105.3 108.4 112.6

100.0 104.3 111.8 119.1 126.2

100.0 105.0 111.0 116.3 118.2

100.0 106.0 116.4 126.6 141.5

100.0 99.6 105.2 112.6 119.4

100.0 102.0 104.6 107.9 113.0

100.0 101.6 103.2 105.9 111.2

100.0 102.0 106.9 112.2 119.3

100.0 101.5 103.6 104.3 105.9

100.0 95.8 98.1 98.1 97.9

100.0 103.1 106.4 110.6 115.7

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

104.5 105.1 105.7 106.1

109.9 110.8 113.9 112.4

109.2 109.3 115.3 110.2

114.1 116.2 116.7 118.8

103.9 105.0 105.4 106.4

104.1 104.4 104.5 105.4

102.7 103.2 103.2 103.7

106.1 106.5 106.0 109.0

103.2 103.6 104.3 103.2

92.6 98.8 98.1 103.1

106.0 106.0 106.3 107.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

106.7 107.7 109.2 110.0

113.4 117.5 122.9 122.8

111.7 115.4 120.8 117.6

119.1 123.8 130.2 133.5

107.4 111.1 115.0 116.7

106.3 106.8 108.9 109.8

104.8 104.9 106.8 107.3

108.6 111.2 114.3 114.7

103.4 103.4 104.8 105.5

99.1 93.1 98.3 102.0

108.8 109.2 111.6 113.1

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

111.3 111.8 113.0 114.2

124.1 124.2 127.5 129.2

117.4 115.9 119.4 120.2

136.9 139.7 143.6 146.0

118.2 117.8 119.6 122.2

111.5 112.3 113.3 114.9

109.8 110.5 111.4 113.2

118.4 117.5 119.2 121.9

105.2 105.6 105.5 107.1

98.5 97.5 101.0 94.5

113.6 115.3 116.7 117.4

82

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 4-4. Chain-Type Quantity Indexes for Personal Consumption Expenditures by Major Type of Product —Continued (Index numbers, 2000 = 100, seasonally adjusted.)

NIPA Table 2.3.3 Services Household operation

Year and quarter Total

Housing

Electricity and gas

Total

Other household operation

Transportation

Medical care

Recreation

Other services

1946 1947 1948 1949

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

11.9 12.5 12.9 13.3

11.5 12.5 13.2 14.0

11.2 12.0 12.6 13.1

9.2 10.3 11.4 12.4

11.8 12.3 12.6 12.8

19.8 19.6 19.6 18.9

7.7 8.2 9.0 9.4

11.1 10.5 10.2 10.1

14.3 14.5 14.8 14.9

1950 1951 1952 1953 1954

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

13.9 14.6 15.3 15.9 16.6

15.0 16.0 17.1 18.0 18.9

14.2 15.1 15.6 16.3 17.0

14.1 15.8 17.2 18.5 20.3

13.6 14.1 14.0 14.5 14.5

18.7 20.3 20.6 21.2 20.9

10.0 10.5 11.0 11.5 12.3

10.0 10.1 10.3 10.4 10.6

15.4 15.5 16.1 16.7 17.4

1955 1956 1957 1958 1959

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

17.4 18.3 19.0 19.8 20.8

19.8 20.8 21.8 22.9 24.1

18.6 19.9 20.7 21.4 22.3

21.9 23.8 25.3 26.7 28.3

16.1 17.1 17.5 17.9 18.4

21.7 22.6 23.0 22.6 23.5

12.8 13.6 14.4 15.3 16.5

11.1 11.7 11.3 11.3 12.0

18.1 18.8 19.4 20.2 21.2

1960 1961 1962 1963 1964

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

21.7 22.6 23.7 24.8 26.3

25.4 26.6 28.1 29.4 30.8

23.4 24.2 25.4 26.5 27.8

29.9 31.4 33.6 35.2 37.1

19.2 19.7 20.4 21.1 22.1

24.3 24.6 25.5 26.6 28.0

17.1 17.9 19.4 20.7 23.0

12.7 13.3 14.0 14.6 15.2

21.9 22.8 23.3 24.2 25.8

1965 1966 1967 1968 1969

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

27.7 29.1 30.6 32.1 33.7

32.5 34.0 35.6 37.4 39.4

29.2 30.6 32.2 33.6 35.3

38.8 41.0 43.3 45.8 48.5

23.2 24.3 25.5 26.3 27.5

29.2 30.8 32.5 34.5 36.3

24.1 25.4 26.4 28.4 30.4

15.6 16.3 16.8 17.8 18.8

27.5 28.9 30.7 31.8 32.4

1970 1971 1972 1973 1974

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

35.0 36.4 38.5 40.3 41.2

40.8 42.6 45.1 47.4 49.8

36.6 37.2 39.2 41.1 41.6

50.8 52.4 55.5 57.1 57.8

28.3 28.5 29.9 31.8 32.1

37.3 38.7 41.1 42.2 42.5

32.1 34.1 36.5 39.1 40.5

19.6 20.3 21.3 23.1 24.7

33.7 34.6 36.2 37.0 36.1

1975 1976 1977 1978 1979

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

42.7 44.5 46.4 48.6 50.0

51.3 52.8 54.2 56.8 59.1

43.5 45.3 47.7 50.2 51.7

61.0 63.2 66.3 69.2 69.7

33.4 34.9 36.9 39.1 41.2

42.9 44.2 47.4 49.0 50.4

42.5 44.5 46.7 48.9 50.9

26.1 27.9 29.7 31.1 32.5

37.4 39.1 40.8 42.6 42.8

1980 1981 1982 1983 1984

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

50.9 51.8 52.9 55.8 58.0

60.9 62.5 62.8 64.1 66.8

53.1 52.6 53.0 54.7 56.1

71.6 70.4 71.3 73.4 73.8

42.2 42.1 42.3 43.7 45.8

47.9 46.5 45.9 48.9 53.6

52.7 55.4 56.2 58.5 60.2

34.1 37.1 39.7 42.7 44.8

42.5 41.9 44.5 50.1 52.0

1985 1986 1987 1988 1989

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

61.3 63.1 65.8 68.5 70.6

69.5 71.3 73.5 75.8 77.8

58.4 59.4 62.1 65.0 67.6

75.8 75.0 77.7 81.6 83.3

48.3 50.5 53.2 55.4 58.7

58.4 60.7 63.1 66.3 67.2

62.7 65.2 68.6 72.0 74.0

48.1 49.9 51.9 56.7 60.7

56.7 58.0 61.0 62.5 64.3

1990 1991 1992 1993 1994

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

72.6 73.8 76.4 78.5 80.9

79.7 81.5 82.7 83.6 86.4

68.3 69.2 71.1 74.6 77.8

81.9 84.5 84.0 88.5 89.9

60.5 60.4 63.8 66.8 70.9

67.2 64.0 66.7 69.5 75.0

77.7 80.3 84.1 85.4 86.4

63.6 64.0 68.6 72.8 76.3

65.7 66.7 69.1 72.0 73.6

1995 1996 1997 1998 1999

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

83.0 85.4 88.3 92.0 95.7

88.2 89.5 91.7 94.3 97.2

80.2 83.9 87.2 91.5 95.3

90.8 94.0 93.3 95.4 96.4

74.2 78.2 83.9 89.4 94.7

79.6 85.0 90.4 93.4 97.3

88.3 89.8 91.8 94.5 96.3

81.7 85.2 87.8 91.3 96.1

74.5 77.2 80.8 86.9 92.8

2000 2001 2002 2003 2004

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

100.0 102.4 104.4 106.5 109.7

100.0 102.7 103.5 104.2 107.1

100.0 100.2 100.8 102.1 104.0

100.0 98.3 101.1 102.4 104.1

100.0 101.4 100.6 101.8 103.9

100.0 98.9 96.2 96.2 97.3

100.0 104.7 110.7 115.4 120.1

100.0 102.5 104.8 108.5 112.7

100.0 101.5 102.2 103.7 106.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.6 104.2 104.6 105.1

103.8 103.7 103.4 103.3

99.5 101.3 100.6 101.8

97.5 101.8 100.5 104.5

100.6 101.0 100.6 100.2

96.8 96.5 95.8 95.8

108.4 110.0 111.4 112.9

103.8 104.4 104.8 106.3

101.8 102.1 102.6 102.3

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.5 106.1 106.7 107.6

103.5 103.8 104.3 105.1

102.0 101.6 101.5 103.1

103.7 101.5 100.4 104.1

100.9 101.7 102.2 102.5

96.4 95.9 96.1 96.3

113.9 114.9 115.7 117.1

106.7 108.0 108.7 110.7

102.6 103.5 104.1 104.6

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

108.7 109.2 110.1 111.0

106.1 106.8 107.5 108.3

103.6 103.1 103.4 105.7

104.5 102.5 101.6 107.9

103.0 103.5 104.6 104.2

97.4 97.3 97.3 97.2

118.0 119.4 120.9 122.3

112.2 112.2 113.2 113.3

105.7 105.8 106.7 107.5

CHAPTER 4: CONSUMER INCOME AND SPENDING

83

Table 4-5. Personal Consumption Expenditures by Type of Expenditure (Billions of dollars.)

Year

1939 .............................

NIPA Table 2.5.5 Personal consumption expenditures

Food and tobacco

Clothing, accessories, and jewelry

Personal care

Housing

Household operation

Medical care

Personal business

Transportation

Recreation

Education Religious Foreign and and welfare travel and research activities other, net

67.2

20.9

8.4

1.0

9.4

9.6

3.1

3.0

6.5

3.5

0.7

1.0

0.2

1940 1941 1942 1943 1944

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

71.3 81.1 89.0 99.9 108.7

22.0 25.4 30.7 35.8 39.3

8.9 10.5 13.1 16.0 17.5

1.0 1.2 1.4 1.6 1.8

9.7 10.4 11.2 11.8 12.3

10.4 11.8 12.7 13.1 14.0

3.3 3.6 4.1 4.5 5.1

3.1 3.2 3.3 3.7 3.9

7.3 8.6 5.6 5.6 5.9

3.8 4.3 4.7 5.0 5.4

0.8 0.8 0.9 1.1 1.1

1.0 1.1 1.2 1.5 1.7

0.1 0.1 0.2 0.3 0.6

1945 1946 1947 1948 1949

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

120.0 144.3 162.0 175.0 178.5

43.5 50.7 56.1 58.2 56.6

19.6 22.0 22.8 24.2 23.3

2.0 2.1 2.2 2.3 2.3

12.8 14.2 16.0 17.9 19.6

15.5 19.9 23.7 26.1 25.7

5.4 6.6 7.4 8.4 8.7

4.1 4.7 5.2 5.6 5.8

6.8 12.4 15.8 18.4 21.7

6.2 8.6 9.3 9.7 10.0

1.1 1.2 1.5 1.7 1.8

1.8 2.0 2.1 2.3 2.3

1.2 -0.1 0.0 0.3 0.6

1950 1951 1952 1953 1954

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

192.2 208.5 219.5 233.1 240.0

58.1 65.2 69.0 70.5 71.7

23.7 25.6 26.6 27.0 27.2

2.4 2.7 2.9 3.1 3.4

21.7 24.3 27.0 29.9 32.3

29.1 31.1 31.5 33.0 33.7

9.4 10.2 11.2 12.2 13.3

6.4 6.9 7.2 8.0 8.8

25.2 25.3 25.6 29.4 28.8

11.2 11.7 12.3 13.1 13.6

1.9 2.1 2.2 2.3 2.5

2.4 2.6 3.0 3.1 3.3

0.7 0.9 1.1 1.5 1.5

1955 1956 1957 1958 1959

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

258.8 271.7 286.9 296.2 317.6

73.6 76.7 80.7 83.9 87.2

28.4 29.7 30.0 30.3 32.0

3.7 4.1 4.6 4.9 5.2

34.4 36.7 39.3 42.0 45.0

37.3 39.8 41.2 42.4 45.0

14.2 15.5 17.1 18.7 20.6

9.8 10.7 11.4 12.2 13.1

35.0 34.4 37.4 35.5 40.7

14.6 15.5 15.9 16.3 17.7

2.7 3.0 3.4 3.7 4.0

3.5 3.9 4.1 4.4 5.1

1.6 1.7 1.7 1.9 2.0

1960 1961 1962 1963 1964

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

331.7 342.1 363.3 382.7 411.4

89.2 91.1 93.3 95.7 101.1

32.7 33.5 35.0 36.0 39.1

5.6 6.1 6.7 7.0 7.5

48.2 51.2 54.7 58.0 61.4

46.7 48.2 51.0 54.0 58.4

22.2 23.9 26.5 28.7 32.3

14.1 15.3 15.9 16.7 18.4

42.8 41.5 46.4 50.2 53.3

18.5 19.3 20.8 22.4 24.6

4.4 4.7 5.1 5.6 6.2

5.2 5.3 5.5 5.7 6.6

2.1 2.0 2.3 2.5 2.6

1965 1966 1967 1968 1969

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

443.8 480.9 507.8 558.0 605.2

108.8 117.8 121.4 131.6 141.3

41.4 45.5 47.8 52.5 56.2

8.1 9.0 9.8 10.5 10.9

65.4 69.5 74.1 79.8 86.9

62.1 67.2 70.8 76.3 81.1

34.7 38.0 41.4 47.7 54.2

20.1 22.0 23.7 26.0 28.9

59.4 62.2 64.5 73.9 80.4

26.9 30.9 33.1 36.7 40.0

7.0 8.0 8.9 10.1 11.3

7.1 7.7 8.5 9.3 10.0

2.9 3.1 3.8 3.7 4.0

1970 1971 1972 1973 1974

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

648.5 701.9 770.6 852.4 933.4

154.6 161.0 173.6 192.9 215.9

57.6 61.8 67.1 74.7 79.3

11.5 11.7 12.3 13.6 14.8

94.1 102.8 112.6 123.3 134.8

84.8 90.1 99.5 111.4 123.6

61.3 68.5 76.7 85.3 95.5

31.8 34.3 37.7 41.3 46.6

81.5 94.5 105.1 115.8 119.7

43.1 46.0 51.5 57.6 63.4

12.7 13.9 15.3 16.9 18.5

11.0 12.5 14.0 15.0 16.7

4.5 4.8 5.2 4.7 4.7

1975 1976 1977 1978 1979

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

1 034.4 1 151.9 1 278.6 1 428.5 1 592.2

238.3 259.3 279.6 307.8 343.9

85.6 93.7 102.8 115.1 123.4

16.1 17.5 19.9 21.9 23.8

147.7 162.2 180.2 202.4 227.3

135.7 152.0 170.5 189.6 212.0

109.9 124.7 142.1 162.3 183.3

54.9 60.5 67.2 78.9 85.9

132.4 156.8 179.1 196.7 219.6

70.5 78.2 85.5 96.1 108.9

20.6 22.5 24.2 26.8 29.8

18.3 20.8 23.2 26.6 30.3

4.4 3.8 4.3 4.3 4.1

1980 1981 1982 1983 1984

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

1 757.1 1 941.1 2 077.3 2 290.6 2 503.3

376.8 406.3 427.7 451.3 476.6

132.3 143.8 147.0 161.1 175.8

25.5 27.1 28.0 32.2 35.5

256.2 289.7 315.2 341.0 374.5

233.3 254.5 271.9 296.7 322.8

209.6 245.2 274.8 310.0 343.7

95.2 102.3 115.1 143.6 151.8

238.9 264.0 270.0 300.7 339.9

117.5 130.8 140.9 156.9 174.8

33.5 37.6 41.3 45.4 49.4

34.8 39.2 43.0 46.1 51.8

3.5 0.4 2.5 5.4 6.6

1985 1986 1987 1988 1989

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

2 720.3 2 899.7 3 100.2 3 353.6 3 598.5

498.4 524.2 549.8 588.2 630.3

188.3 204.1 218.9 235.7 252.5

38.8 42.3 46.5 50.1 53.8

412.7 448.4 483.7 521.5 557.4

343.6 359.6 376.3 398.6 423.2

376.4 407.4 447.6 505.0 561.9

177.5 198.3 213.6 224.2 236.3

377.7 385.2 401.3 431.1 455.9

189.7 206.9 226.8 251.7 272.4

53.9 58.1 63.2 70.2 77.7

55.7 61.9 66.7 74.4 81.0

7.7 3.3 6.1 2.8 -3.7

1990 1991 1992 1993 1994

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

3 839.9 3 986.1 4 235.3 4 477.9 4 743.3

677.8 699.9 717.3 740.6 767.9

261.5 263.5 280.9 293.4 306.3

56.9 58.5 62.0 64.4 68.1

597.9 631.1 658.5 683.9 726.1

433.3 444.3 466.0 497.5 529.6

635.1 692.9 761.1 809.0 853.3

250.9 279.7 306.7 330.0 336.1

471.7 447.3 483.2 520.8 567.3

290.2 302.0 321.3 351.0 383.4

83.7 89.3 96.0 101.5 107.3

88.7 92.9 102.3 106.5 115.3

-7.7 -15.2 -20.0 -20.6 -17.4

1995 1996 1997 1998 1999

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

4 975.8 5 256.8 5 547.4 5 879.5 6 282.5

790.1 820.1 850.0 888.7 944.8

314.5 327.2 337.4 356.3 379.6

72.8 77.0 82.9 86.2 89.5

764.4 800.1 842.6 894.6 948.4

553.5 586.6 616.2 641.8 675.2

905.0 950.7 1 002.8 1 069.4 1 130.8

349.6 376.0 412.9 446.1 491.6

594.6 641.8 685.2 718.0 785.0

418.1 448.4 474.5 505.8 546.1

114.3 122.6 129.7 140.0 150.5

120.4 130.5 134.2 146.0 154.5

-21.4 -24.2 -21.1 -13.3 -13.5

2000 2001 2002 2003 2004

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

6 739.4 7 055.0 7 350.7 7 709.9 8 214.3

1 003.7 1 052.0 1 091.1 1 136.5 1 222.3

397.0 397.1 407.0 419.7 445.5

93.4 94.5 96.7 98.5 103.1

1 006.5 1 073.7 1 123.1 1 158.0 1 221.1

719.3 740.3 747.4 779.2 821.0

1 218.3 1 327.3 1 441.2 1 555.6 1 677.2

539.1 536.5 547.0 568.5 612.2

853.4 872.4 882.2 928.5 979.1

585.7 604.0 629.9 658.8 702.4

163.8 178.1 190.2 200.4 211.3

172.3 186.5 200.1 206.7 219.0

-13.0 -7.4 -5.1 -0.5 0.1

84

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 4-2. Personal Consumption Expenditures by Type of Expenditure, 1948 and 2004 1948 All other 11.2%

2004 Medical care goods and services 4.8%

All other 21.2%

Medical care goods and services 20.4%

Food and tobacco 33.3%

Transportation 10.5%

Food and tobacco

Transportation 11.9% Household operation 14.9% Housing 10.2%

14.9%

Household operation 10.0% Clothing and personal care 15.1%

Housing 14.9%

Clothing and personal care 6.7%

• Spending for medical care goods and services in 2004 made up 20.4 percent of personal consumption spending—more than four times the 1948 percentage. This includes medical care payments made by government and private insurance on behalf of individuals as well as out-of-pocket consumer payments. (Table 4-5) • In 2004, much smaller shares were required for food and tobacco and for clothing and personal care than in 1948, as can be seen on the graph. Household operation claimed a smaller share, but housing itself took a larger one. Transportation rose slightly, and the “all other” share nearly doubled. It should be noted that the nonprofit sector is included in this tabulation, and its spending on education, research, religious, and welfare activities is included in the “all other” category. (Table 4-5)

CHAPTER 4: CONSUMER INCOME AND SPENDING

NOTES AND DEFINITIONS SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

All personal income and personal consumption expenditure series are from the national income and product accounts (NIPAs). All quarterly series are shown at a seasonally adjusted annual rate. Current and constant dollar values are in billions of dollars. Indexes of price and quantity are based on the average for the year 2000 = 100. In all these tables, the personal sector includes nonprofit institutions serving households. On an annual basis only, tables are now also available in which income, spending, and saving are estimated separately for households and for nonprofit institutions. These data are available for the years 1992 through 2004 and are discussed in the article at the beginning of this book, “New Data for the U.S. Economy.” The data are also available on the BEA Web site as Table 2.9. In several cases, the notes and definitions below will refer to imputations or imputed values. See the notes and definitions to Chapter 1 for an explanation of imputation and the role it plays in national and personal income measurement. TABLES 4-1 THROUGH 4-4 AND 19-6 SOURCES AND DISPOSITION OF PERSONAL INCOME; PERSONAL CONSUMPTION EXPENDITURE BY MAJOR TYPE OF PRODUCT Definitions Personal income is the income received by persons residing in the United States from participation in production; from government and business transfer payments; and from government interest, which is treated like a transfer payment rather than as income from participation in production. Persons refers to individuals, nonprofit institutions that primarily serve individuals, private noninsured welfare funds, and private trust funds. Proprietors’ income is treated in its entirety as received by individuals. Life insurance carriers and private noninsured pension funds are not counted as persons, but their saving is credited to persons. Personal income is the sum of compensation received by employees, proprietors’ income with inventory valuation and capital consumption adjustments, rental income of persons with capital consumption adjustment, personal receipts on assets, and personal current transfer receipts, less contributions for social insurance. Personal income differs from national income in that it includes current transfer payments and interest received by persons, regardless of source, but excludes employee and employer contributions for social insurance; business transfer payments, interest payments, and other payments

85

on assets other than to persons; taxes on production and imports less subsidies; the current surplus of government enterprises; and undistributed corporate profits with IVA and CCAdj. Compensation of employees, received is the sum of wage and salary accruals and supplements to wages and salaries, both as defined in the national income account (see Table 1-7 and the notes and definitions to Chapter 1), minus an adjustment item wage accruals less disbursements (the effect of which is to put retroactive wage payments into the quarter in which the wages were paid rather than the quarter for which they were paid). This adjustment item is zero in most quarters. It is shown in Table 1-7 but not in Tables 4-1 or 19-6. As in national income, this component refers to compensation received by residents of the United States, including compensation from the rest of the world, but excludes compensation from domestic industries to workers residing in the rest of the world. Wage and salary disbursements consists of the monetary remuneration of employees, including the compensation of corporate officers; corporate directors’ fees paid to directors who are also employees of the corporation; the value of employee exercise of “nonqualified stock options”; commissions, tips, and bonuses; voluntary employee contributions to certain deferred compensation plans, such as 401(k) plans; receipts in kind that represent income; and judicial fees to jurors and witnesses, compensation of prison inmates, and marriage fees to justices of the peace, all of which were formerly included in “other labor income.” Supplements to wages and salaries consists of employer contributions to employee pension and insurance funds and to government social insurance funds. Proprietors’ income with inventory valuation and capital consumption adjustments is the current-production income (including income-in-kind) of sole proprietors and partnerships and of tax-exempt cooperatives. The imputed net rental income of owner-occupants of farm dwellings is included. Dividends and monetary interest received by proprietors of nonfinancial business and rental incomes received by persons not primarily engaged in the real estate business are excluded. These incomes are included in rental income of persons and personal income receipts on assets. Fees paid to outside directors of corporations are included. The two valuation adjustments are designed to obtain income measures that exclude any element of capital gains: inventory withdrawals are valued at replacement, rather than historical, cost, and charges for depreciation are on a consistent accounting basis and are valued at replacement cost. Rental income of persons with capital consumption adjustment is the net current-production income of persons from the rental of real property (other than income of persons primarily engaged in the real estate business);

86

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

the imputed net rental income of owner-occupants of nonfarm dwellings; and the royalties received by persons from patents, copyrights, and rights to natural resources. The capital consumption adjustment converts charges for depreciation to a consistent accounting basis valued at replacement cost. Personal income receipts on assets consists of personal interest income and personal dividend income. Personal interest income is the interest income (monetary and imputed) of persons from all sources, including interest paid by government to government employee retirement plans as well as government interest paid directly to persons. Personal dividend income is the dividend income of persons from all sources, excluding capital gains distributions. It equals net dividends paid by corporations (dividends paid by corporations minus dividends received by corporations) less a small amount of corporate dividends received by general government. Dividends received by government employee retirement systems are included in personal dividend income. Personal current transfer receipts is income payments to persons for which no current services are performed. It consists of government social benefits to persons and net receipts from business. Government social benefits to persons consists of benefits from the following social insurance funds: • Social Security and Medicare, consisting of federal oldage, survivors, disability, and health insurance; • Unemployment insurance; • Veterans’ benefits; • Family assistance, which consists of Aid to Families with Dependent Children and (beginning with 1996) assistance programs operating under the Personal Responsibility and Work Opportunity Reconciliation Act of 1996; • Other, which includes pension benefit guaranty, workers’ compensation, military medical insurance, temporary disability insurance, food stamps, Black Lung benefits, Supplemental Security Income, public assistance (including Medicaid), and educational assistance. Government payments to nonprofit institutions, other than for work under research and development contracts, also are included. Payments from government employee retirement plans are not included. Contributions for government social insurance, which is subtracted to arrive at personal income, includes payments by employers, employees, the self-employed, and other individuals who participate in the following programs: old-age, survivors, and disability insurance (Social Security); hospital insurance and supplementary medical insurance (Medicare); unemployment insurance; railroad retirement; veterans’ life insurance; and temporary dis-

ability insurance. Contributions to government employee retirement plans are not included in this item. In the 2003 revision, there was a change in the tabular presentation of contributions for government social insurance but not in the concept of personal income. Before the revision, the components of personal income included only wages and salaries and “other labor income.” Personal contributions for social insurance were subtracted from that total. In the revision, the total compensation concept presented in the table includes wages and salaries and all supplements, including the employer social insurance payments. Both the employer and employee contributions are then subtracted to arrive at personal income. In either case, the effect is to end up with a personal income figure that is net of all social insurance taxes but not net of personal income taxes. Personal current taxes is tax payments (net of refunds) by persons residing in the United States that are not chargeable to business expense, including taxes on income, on realized net capital gains, and on personal property. As of the 1999 revisions, estate and gift taxes are classified as capital transfers and are not included in personal current taxes. Disposable personal income is personal income minus personal current taxes. It is the income from current production that is available to persons for spending or saving, but it is not the cash flow available since it excludes capital gains. Disposable personal income in chained (2000) dollars represents the inflation-adjusted value of disposable personal income. Personal outlays is the sum of personal consumption expenditures (defined below), personal interest payments, and personal current transfer payments. Personal current transfer payments to government includes donations, fees, and fines paid to federal, state, and local governments. These were formerly classified as “personal nontax payments” and included in the old “personal tax and nontax payments” total. Personal current transfer payments to the rest of the world (net) is personal remittances in cash and in kind to the rest of the world less such remittances from the rest of the world. Personal saving is derived by subtracting personal outlays from disposable personal income. It is the current saving of individuals (including proprietors), nonprofit institutions that primarily serve individuals, life insurance carriers, retirement funds (including those of government employees), private noninsured welfare funds, and private trust funds. Conceptually, personal saving may also be viewed as the sum of the net acquisition of financial assets and the change in physical assets less the sum of net borrowing and consumption of fixed capital. In either case, it is defined to exclude capital gains, whether realized or unrealized.

CHAPTER 4: CONSUMER INCOME AND SPENDING

Note that, in the context of national income accounting, the term just defined is saving, not “savings.” Saving refers to a flow of income during a particular time span (a year or a quarter, for example) that is not consumed. It is therefore available to finance a commensurate flow of investment during that time span. Strictly defined, “savings” denotes an accumulated stock of monetary funds—possibly the cumulative effects of successive periods of saving—available to the owner in asset form, such as a bank savings account. Personal consumption expenditures (PCE) is goods and services purchased by persons residing in the United States. Persons are defined as individuals and nonprofit institutions that primarily serve individuals. Most of PCE consists of purchases of new goods and services by individuals from businesses, including purchases financed by insurance (for example, by medical insurance). In addition, PCE includes purchases of new goods and services by nonprofit institutions, net purchases of used goods by individuals and nonprofit institutions, and purchases abroad of goods and services by U.S. residents traveling or working in foreign countries. PCE also includes purchases for certain goods and services provided by the government, primarily tuition payments for higher education, charges for medical care, and charges for water and sanitary services. Finally, PCE includes imputed purchases that keep PCE invariant to changes in the way that certain activities are carried out. For example, to take account of the value of the services provided by owneroccupied housing, PCE includes an imputation equal to what (estimated) rent homeowners would pay if they rented their houses from themselves. (Actual purchases of residential structures by individuals are classified as gross private domestic investment.) Tables 4-3 and 4-4 present personal consumption expenditures classified by major type of product: durable goods, nondurable goods, and services. Each of these three major categories is then subdivided according to the major type of expenditure. In general, durable goods are commodities that can be stored or inventoried and that have an average life of at least three years. Nondurable goods are all other commodities that can be stored or inventoried. This classification system is not always helpful with respect to the objective of spending. For example, the medical care component of services does not include drugs and medicines, which are included in nondurable goods. For a more precise classification of consumption spending by objective, see Table 4-5 and its description below. This classification is only available on an annual basis. Revisions Data in this book reflect the 2003 comprehensive revisions to the NIPAs and all further revisions available through August 2005.

87

See the notes and definitions to Chapter 1 for an explanation of a new revision schedule for wages and salaries and related components of the income side of the NIPAs. This will mean quarterly revisions for as much as seven months of previous data, affecting incomes and saving while leaving PCE and other components of GDP untouched. An important conceptual change was made in the 1999 comprehensive revision of the NIPAs. It affected the concepts of personal income and saving, as the retirement plans of federal, state, and local employees began to be treated like private pensions. Previously, these programs were treated as government social insurance programs. The most significant differences are that employer contributions to, and the dividends and interest received by, these retirement funds are now treated as a component of personal income, but benefits paid by the plans are treated as transactions within the personal sector rather than as transfer payments. In other words, this conceptual revision raised employer contributions for employee pension and insurance funds and dividends and interest, while reducing transfer payments received and personal contributions for social insurance. The effect was to move the accumulation of assets in these pension funds from the government surplus to the personal saving sector. Data availability Monthly data are made available in a BEA press release, normally distributed on the first business day following the monthly release of the latest national income and product account (NIPA) estimates. Monthly and quarterly data are subsequently published each month in the BEA’s Survey of Current Business. Current and historical data are available on the BEA Web site at , and may also be obtained from the STAT-USA subscription Web site at . References The latest revision is presented and described in an article on the national income and product accounts in the August 2005 Survey of Current Business. The preceding annual revision was described in the August 2004 issue, and the comprehensive revision is covered by the references to be found in the notes and definitions to Chapter 1. A discussion of monthly estimates of personal income and its disposition appears in the November 1979 Survey of Current Business. A more detailed description of concepts, sources, and methods used in estimating personal consumption expenditures appears in Personal Consumption Expenditures (NIPA Methodology Paper No. 6, 1990), available on the BEA Web site from the National Technical Information Service (NTIS Accession No. PB 90-254244). Additional and more recent information can be found in the articles listed in the notes and definitions for Tables 1-1 through 1-7 and Tables 1-9 through 1-13.

88

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

TABLE 4-5 PERSONAL CONSUMPTION EXPENDITURES BY TYPE OF EXPENDITURE SOURCE: BUREAU

OF

ECONOMIC ANALYSIS

In this table, also derived from the NIPA accounts, annual estimates of the current-dollar value of PCE are presented “by type of expenditure” instead of “by type of product.” The latter is the classification scheme used in Tables 4-3 and 4-4. The “type of expenditure” tabulations provide a more precise delineation of consumer spending by its ultimate objective. They cut across the categories of durable goods, nondurable goods, and services that are used in the quarterly estimates. The definitions of the expenditure types given below explain the relationship of each to the categories used in the “type of product” tables. Definitions Food and tobacco includes food, beverages (including alcoholic), and tobacco products, whether purchased for home consumption or on the premises of eating and drinking places. All the components are included in nondurable goods in the “major type of product” classification system. Clothing, accessories, and jewelry includes clothing and shoes from the nondurable goods category, jewelry and watches from the durables category, and cleaning, storage, and repair of clothing and shoes from the services category. Personal care includes toilet articles and preparations from nondurable goods and barbershops, beauty parlors, and health clubs from the services sector. Housing includes rents paid for rental housing, imputed rent of owner-occupied dwellings, and rent of hotels, motels, clubs, schools, and other group housing. All components are from the services group. Household operation includes furniture, appliances, and other durable household goods from durable goods; “semidurable” furnishings (such as textile goods), household supplies, and stationery from nondurable goods; and utilities, communications, domestic service, maintenance, insurance, and miscellaneous services from services. Medical care includes drug preparations and sundries from nondurable goods, ophthalmic and orthopedic products from durable goods, and the services of medical professionals, hospitals, nursing homes, and health insurance. Personal business includes financial, legal, funeral, and miscellaneous services.

Transportation includes the purchase of motor vehicles and parts from the durable goods category; gasoline and oil from nondurables; and tolls, insurance, transit, taxi, rail, bus, airline, and other transportation services. Recreation includes books, “wheel goods” (other than those classified in transportation), photo equipment, boats, pleasure aircraft, video, audio, musical instruments, computers, and software, all from durable goods; toys, sports supplies, flowers, seeds, and potted plants from nondurables; and a long list of recreational and cultural services, including legal gambling. (Activities that are illegal are outside the scope of the national income and product accounts.) Education and research includes all education and research expenditures in the service category, including the research of nonprofit institutions. Religious and welfare activities are all classified as services in the “major type of product” system. For nonprofits, this category equals current expenditures (including consumption of fixed capital) of religious, social welfare, foreign relief, and political organizations, and those of museums, libraries, and foundations. The expenditures are net of receipts—such as those from meals, rooms, and entertainments—accounted for separately in consumer expenditures. They exclude relief payments within the United States and expenditures by foundations for education and research. For proprietary and government institutions, the value for this category equals receipts from users. Foreign travel and other, net consists of foreign travel spending (services) and other expenditures abroad (nondurables) by U.S. residents minus expenditures in the United States by nonresidents (services) and personal remittances in kind to nonresidents (nondurables). Negative figures indicate that the sum of the first two terms is less than the sum of the second two terms. In practice, spending in the United States by foreigners exceeds spending on foreign travel by U.S. residents. Beginning with 1981, foreign travel spending by U.S. residents includes U.S. students’ expenditures abroad, and expenditures in the United States by nonresidents includes nonresidents’ student and medical care expenditures in the United States. Data availability and revisions Data are published once a year in supplemental NIPA tables in the Survey of Current Business, most recently in August 2005, reflecting the most recent NIPA revisions. They are also available on the BEA Web site at .

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES Figure 5-1. National Saving, Investment, and Borrowing, 1946–2004 (percent of gross national income) 15

Percent

10

5

0

-5

-10 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year Net saving

Net domestic investment

Net lending or net borrowing (-)

• The current-dollar amount of net saving in the U.S. economy (excluding allowances for capital consumption) fell to 1.2 percent of gross national income (GNI) in 2004—a postwar record low and the lowest national saving rate since 1934. In 2000, the national net saving rate was 5.8 percent, which was already significantly lower than rates between the end of World War II and the early 1970s. Since 2000, the federal budget position has swung from saving into borrowing by nearly 600 billion dollars. Personal saving also declined, but was offset by an increase in retained corporate profits. (Tables 1-9 and 5-1) • While net saving declined consistently from 2000 through 2004, net domestic investment (gross investment minus depreciation) recovered to the 2000 level in 2004 after declining for two years. The excess of investment over saving was financed by an increase in borrowing overseas (a larger negative entry on the graph above) from 4.0 percent of GNI in 2000 to 5.6 percent of GNI in 2004. (Tables 1-9 and 5-1) • In terms of physical quantities, total gross private fixed investment rose 4.5 percent between 2000 and 2004. Nonresidential investment fell 3.7 percent, with structures down 20.7 percent while equipment and software rose 3.1 percent. Residential investment rose 25.7 percent. (Tables 5-3 and 5-4)

89

90

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-1. Saving and Investment (Billions of dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.7.5, 5.1

Gross saving Net saving

Consumption of fixed capital

Private Year and quarter Total Total Total

Personal saving

Government Undistributed corporate profits with IVA and CCAdj

Federal

Private

State and local

Total Total

Government

Domestic business

Households and institutions

Federal

State and local

1946 1947 1948 1949

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

38.4 46.6 58.0 45.6

15.1 20.2 29.9 16.9

18.6 13.5 25.1 21.1

15.5 7.4 13.4 9.5

3.2 6.1 11.7 11.6

-5.0 5.3 3.6 -5.7

1.5 1.4 1.2 1.5

23.3 26.4 28.1 28.7

12.5 15.7 18.4 20.0

10.5 13.2 15.5 16.9

1.9 2.5 2.9 3.1

9.3 8.8 7.6 6.6

1.5 1.8 2.1 2.1

1950 1951 1952 1953 1954

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

60.6 75.0 74.2 75.1 73.4

31.2 41.8 38.5 37.4 33.5

24.4 29.6 31.8 32.1 31.9

15.1 19.5 20.5 21.5 20.0

9.3 10.1 11.3 10.6 11.9

5.5 9.6 3.7 1.8 -1.6

1.3 2.6 3.0 3.5 3.2

29.4 33.2 35.7 37.8 39.9

21.5 24.6 26.1 27.3 28.7

18.1 20.7 21.9 22.9 24.1

3.3 3.8 4.2 4.4 4.7

5.8 6.1 6.8 7.6 8.3

2.1 2.6 2.7 2.8 2.9

1955 1956 1957 1958 1959

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

88.0 99.4 99.6 90.8 106.2

45.9 53.0 49.7 38.8 53.2

36.7 41.0 42.2 41.3 46.0

19.7 25.8 27.0 28.3 26.7

17.0 15.3 15.2 13.0 19.4

5.7 7.6 3.3 -5.4 3.3

3.5 4.4 4.2 2.9 3.8

42.1 46.4 49.9 52.0 53.0

30.3 33.6 36.3 38.1 38.6

25.3 28.1 30.4 32.1 32.2

5.0 5.5 5.8 6.1 6.4

8.7 9.3 9.8 9.9 10.2

3.1 3.5 3.9 4.0 4.2

1960 1961 1962 1963 1964

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

111.3 114.3 124.9 133.2 143.4

55.8 57.1 65.7 70.8 78.4

44.3 50.2 57.9 59.7 71.0

26.7 32.2 33.8 33.3 40.8

17.6 18.1 24.1 26.4 30.1

7.2 2.6 2.5 5.4 1.0

4.3 4.3 5.2 5.7 6.4

55.6 57.2 59.3 62.4 65.0

40.5 41.6 42.8 44.9 46.9

33.9 34.7 35.6 37.5 39.0

6.7 6.9 7.2 7.5 7.9

10.6 10.9 11.5 12.1 12.3

4.4 4.7 5.0 5.4 5.7

1965 1966 1967 1968 1969

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

158.5 168.7 170.5 182.0 198.3

89.1 93.1 89.0 93.6 100.4

79.2 83.1 91.4 88.4 83.7

43.0 44.4 54.4 52.8 52.5

36.2 38.7 36.9 35.6 31.2

3.3 2.3 -9.4 -2.3 8.7

6.5 7.8 7.0 7.5 8.0

69.4 75.6 81.5 88.4 97.9

50.5 55.5 59.9 65.2 73.1

41.9 46.3 50.0 54.4 61.2

8.5 9.2 9.9 10.8 12.0

12.7 13.2 14.0 14.8 15.5

6.2 6.9 7.5 8.3 9.3

1970 1971 1972 1973 1974

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

192.7 208.9 237.5 292.0 301.5

86.0 93.9 111.0 152.7 139.0

94.0 115.8 119.8 148.3 143.4

69.5 80.6 77.2 102.7 113.6

24.6 34.8 42.9 45.6 29.8

-15.2 -28.4 -24.4 -11.3 -13.8

7.1 6.5 15.6 15.7 9.3

106.7 115.0 126.5 139.3 162.5

80.0 86.7 97.1 107.9 126.6

67.2 72.5 80.9 89.9 105.9

12.9 14.2 16.2 18.0 20.7

16.1 16.5 16.6 17.1 18.2

10.6 11.8 12.8 14.3 17.7

1975 1976 1977 1978 1979

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

297.0 342.1 397.5 478.0 536.7

109.2 137.0 167.5 215.7 236.6

175.8 181.3 198.5 223.5 234.9

125.6 122.3 125.3 142.5 159.1

50.2 59.0 73.2 81.0 75.7

-69.0 -51.7 -44.1 -26.5 -11.3

2.5 7.4 13.1 18.7 13.0

187.7 205.2 230.0 262.3 300.1

147.8 162.5 184.3 212.8 245.7

124.4 136.9 155.3 179.3 206.9

23.4 25.6 29.0 33.6 38.8

19.7 21.4 23.1 25.0 27.0

20.2 21.3 22.6 24.5 27.5

1980 1981 1982 1983 1984

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

549.4 654.7 629.1 609.4 773.4

206.5 266.6 202.2 165.6 300.9

251.3 312.3 336.2 333.7 445.0

201.4 244.3 270.8 233.6 314.8

49.9 68.0 65.4 100.1 130.3

-53.6 -53.3 -131.9 -173.0 -168.1

8.8 7.6 -2.2 4.9 23.9

343.0 388.1 426.9 443.8 472.6

281.1 317.9 349.8 362.1 385.6

236.8 268.9 297.3 307.4 328.0

44.3 49.0 52.5 54.7 57.6

30.1 33.8 37.6 40.8 44.6

31.8 36.3 39.5 40.9 42.3

1985 1986 1987 1988 1989

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

767.5 733.5 796.8 915.0 944.7

260.7 202.2 234.9 317.4 300.4

413.4 372.0 367.4 434.0 409.7

280.0 268.4 241.4 272.9 287.1

133.4 103.7 126.1 161.1 122.6

-175.0 -190.8 -145.0 -134.5 -130.1

22.3 21.0 12.4 17.9 20.8

506.7 531.3 561.9 597.6 644.3

414.0 431.8 455.3 483.5 522.1

353.0 366.9 385.7 408.9 440.6

61.0 64.9 69.5 74.6 81.5

48.1 51.6 55.2 59.3 63.5

44.6 47.9 51.4 54.8 58.7

1990 1991 1992 1993 1994

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

940.4 964.1 948.2 962.4 1 070.7

258.0 238.2 196.3 186.0 237.1

422.7 456.1 493.0 458.6 438.9

299.4 324.2 366.0 284.0 249.5

123.3 131.9 142.7 168.1 171.8

-172.0 -213.7 -297.4 -273.5 -212.3

7.2 -4.2 0.7 0.9 10.5

682.5 725.9 751.9 776.4 833.7

551.6 586.9 607.3 624.7 675.1

466.4 497.4 510.5 524.6 568.0

85.1 89.5 96.8 100.1 107.1

67.9 72.2 74.7 77.9 80.2

63.0 66.9 69.9 73.8 78.5

1995 1996 1997 1998 1999

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

1 184.5 1 291.1 1 461.1 1 598.7 1 674.3

306.2 373.0 486.6 568.6 573.0

491.1 489.0 503.3 477.8 419.0

250.9 228.4 218.3 276.8 158.6

223.8 256.9 287.9 201.7 255.3

-197.0 -141.8 -55.8 38.8 103.6

12.0 25.8 39.1 52.0 50.4

878.4 918.1 974.4 1 030.2 1 101.3

713.4 748.8 800.3 851.2 914.3

600.2 630.7 675.2 718.3 769.8

113.2 118.2 125.1 132.9 144.5

81.9 82.0 82.5 82.8 84.8

83.1 87.2 91.6 96.2 102.1

2000 2001 2002 2003 2004

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

1 770.5 1 657.6 1 489.1 1 474.1 1 572.0

582.7 376.1 197.1 142.7 136.8

343.3 324.6 479.2 549.3 549.1

168.5 132.3 184.7 172.8 151.8

174.8 192.3 294.5 376.5 397.3

189.5 46.7 -247.9 -382.7 -406.5

50.0 4.8 -34.2 -23.8 -5.9

1 187.8 1 281.5 1 292.0 1 331.3 1 435.3

990.8 1 075.5 1 080.3 1 112.8 1 206.2

836.1 903.7 893.6 911.5 973.3

154.8 171.7 186.8 201.3 232.8

87.2 88.2 88.9 90.3 93.8

109.8 117.8 122.7 128.3 135.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 535.7 1 512.6 1 461.5 1 446.6

253.7 224.4 166.7 143.8

497.4 500.9 445.4 473.3

225.4 221.2 153.0 139.3

272.0 279.7 292.4 334.0

-208.5 -241.4 -247.3 -294.6

-35.3 -35.1 -31.4 -34.9

1 282.0 1 288.2 1 294.9 1 302.7

1 073.1 1 077.5 1 082.4 1 088.4

892.3 892.5 893.5 896.0

180.8 184.9 188.8 192.5

88.6 88.6 88.8 89.4

120.3 122.1 123.7 124.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 413.3 1 456.8 1 470.0 1 556.2

101.4 133.0 132.8 203.7

465.2 532.9 602.8 596.2

154.0 169.6 205.1 162.6

311.3 363.4 397.7 433.6

-296.0 -373.8 -456.2 -405.0

-67.8 -26.1 -13.8 12.5

1 311.8 1 323.8 1 337.2 1 352.5

1 095.7 1 105.8 1 117.8 1 131.8

900.6 906.8 914.5 924.0

195.1 199.0 203.3 207.8

89.6 90.4 90.5 90.6

126.5 127.7 128.9 130.0

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 534.7 1 546.4 1 590.1 1 617.0

163.6 152.6 56.0 174.9

599.4 567.6 486.9 542.6

155.8 141.2 104.6 205.4

443.5 426.4 382.3 337.2

-429.3 -413.4 -411.6 -371.6

-6.5 -1.6 -19.3 4.0

1 371.1 1 393.8 1 534.1 1 442.0

1 147.8 1 165.8 1 303.5 1 207.6

935.1 947.9 1 032.0 978.4

212.7 217.9 271.5 229.2

91.8 93.4 94.2 95.9

131.5 134.6 136.4 138.6

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

91

Table 5-1. Saving and Investment—Continued (Billions of dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.7.5, 5.1

Gross domestic investment, capital account transactions, and net lending, NIPAs Gross domestic investment

Year and quarter Total Total

Private

Government

Capital account transactions (net)

Net lending or net borrowing (-), NIPAs

Statistical discrepancy

Net domestic investment

Gross national income

Gross saving Net saving as as a a percentage percentage of of gross gross national national income income

1946 1947 1948 1949

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

39.6 48.8 57.5 47.4

34.6 39.6 55.1 46.6

31.1 35.0 48.1 36.9

3.5 4.6 7.0 9.7

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

4.9 9.3 2.4 0.9

1.2 2.3 -0.5 1.8

11.3 13.2 27.0 17.9

221.8 243.0 271.1 266.7

17.3 19.2 21.4 17.1

6.8 8.3 11.0 6.3

1950 1951 1952 1953 1954

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

62.0 78.7 77.0 79.2 76.6

63.9 77.8 76.3 80.4 76.3

54.1 60.2 54.0 56.4 53.8

9.8 17.6 22.3 24.0 22.5

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

-1.8 0.9 0.6 -1.3 0.2

1.4 3.6 2.8 4.0 3.2

34.4 44.5 40.6 42.7 36.4

293.8 337.6 357.5 377.2 379.3

20.6 22.2 20.7 19.9 19.3

10.6 12.4 10.8 9.9 8.8

1955 1956 1957 1958 1959

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

90.5 97.7 99.6 91.9 106.7

90.0 94.9 94.8 91.0 107.8

69.0 72.0 70.5 64.5 78.5

21.0 22.9 24.4 26.5 29.3

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

0.4 2.8 4.8 0.9 -1.2

2.5 -1.7 0.0 1.0 0.5

47.9 48.5 45.0 38.9 54.8

414.8 441.9 464.1 468.8 508.9

21.2 22.5 21.5 19.4 20.9

11.1 12.0 10.7 8.3 10.4

1960 1961 1962 1963 1964

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

110.4 113.8 125.3 132.4 144.2

107.2 109.5 121.4 127.4 136.7

78.9 78.2 88.1 93.8 102.1

28.3 31.3 33.3 33.6 34.6

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

3.2 4.3 3.9 5.0 7.5

-0.9 -0.6 0.4 -0.8 0.8

51.6 52.3 62.2 65.0 71.7

530.4 548.8 589.4 623.0 667.7

21.0 20.8 21.2 21.4 21.5

10.5 10.4 11.1 11.4 11.7

1965 1966 1967 1968 1969

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

160.0 175.0 175.1 186.6 201.5

153.8 171.1 171.6 184.8 199.7

118.2 131.3 128.6 141.2 156.4

35.6 39.8 43.0 43.6 43.3

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

6.2 3.9 3.6 1.7 1.8

1.6 6.3 4.6 4.6 3.2

84.4 95.5 90.1 96.5 101.8

722.8 786.6 833.4 911.5 987.6

21.9 21.4 20.5 20.0 20.1

12.3 11.8 10.7 10.3 10.2

1970 1971 1972 1973 1974

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

200.0 220.5 246.6 300.7 312.3

196.0 219.9 250.2 291.3 305.7

152.4 178.2 207.6 244.5 249.4

43.6 41.8 42.6 46.8 56.3

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

4.0 0.6 -3.6 9.3 6.6

7.3 11.6 9.1 8.6 10.9

89.3 104.9 123.7 152.1 143.2

1 037.6 1 123.1 1 237.7 1 386.7 1 504.6

18.6 18.6 19.2 21.1 20.0

8.3 8.4 9.0 11.0 9.2

1975 1976 1977 1978 1979

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

314.7 367.2 419.8 504.6 582.8

293.3 358.4 428.8 515.0 581.4

230.2 292.0 361.3 438.0 492.9

63.1 66.4 67.5 77.1 88.5

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

21.4 8.9 -9.0 -10.4 1.4

17.7 25.1 22.3 26.6 46.0

105.6 153.2 198.8 252.7 281.2

1 633.6 1 817.0 2 028.9 2 289.7 2 549.2

18.2 18.8 19.6 20.9 21.1

6.7 7.5 8.3 9.4 9.3

1980 1981 1982 1983 1984

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

590.9 685.6 629.4 655.1 788.0

579.5 679.3 629.5 687.2 875.0

479.3 572.4 517.2 564.3 735.6

100.3 106.9 112.3 122.9 139.4

... ... -0.2 -0.2 -0.2

11.4 6.3 0.0 -31.8 -86.7

41.4 30.9 0.3 45.7 14.6

236.6 291.2 202.6 243.4 402.4

2 782.3 3 130.4 3 291.2 3 528.0 3 954.9

19.7 20.9 19.1 17.3 19.6

7.4 8.5 6.1 4.7 7.6

1985 1986 1987 1988 1989

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

784.1 780.5 818.5 895.5 984.3

895.0 919.7 969.2 1 007.7 1 072.6

736.2 746.5 785.0 821.6 874.9

158.8 173.2 184.3 186.1 197.7

-0.3 -0.3 -0.4 -0.5 -0.3

-110.5 -138.9 -150.4 -111.7 -88.0

16.7 47.0 21.7 -19.5 39.7

388.3 388.4 407.3 410.1 428.4

4 230.1 4 433.6 4 735.7 5 147.0 5 470.9

18.1 16.5 16.8 17.8 17.3

6.2 4.6 5.0 6.2 5.5

1990 1991 1992 1993 1994

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

1 006.7 1 036.6 1 051.0 1 102.0 1 213.2

1 076.7 1 023.2 1 087.9 1 172.4 1 318.4

861.0 802.9 864.8 953.4 1 097.1

215.7 220.3 223.1 219.0 221.4

6.6 4.5 0.6 1.3 1.7

-76.6 9.0 -37.5 -71.7 -106.9

66.2 72.5 102.7 139.5 142.5

394.2 297.3 336.0 395.9 484.7

5 771.6 5 953.8 6 264.7 6 549.8 6 955.9

16.3 16.2 15.1 14.7 15.4

4.5 4.0 3.1 2.8 3.4

1995 1996 1997 1998 1999

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

1 285.7 1 384.8 1 531.7 1 584.1 1 638.5

1 376.7 1 485.2 1 641.9 1 771.5 1 912.4

1 144.0 1 240.3 1 389.8 1 509.1 1 625.7

232.7 244.9 252.2 262.4 286.8

0.9 0.7 1.0 0.7 4.8

-91.9 -101.0 -111.3 -188.1 -278.7

101.2 93.7 70.7 -14.6 -35.7

498.4 567.1 667.5 741.3 811.2

7 332.3 7 758.2 8 266.6 8 783.0 9 337.9

16.2 16.6 17.7 18.2 17.9

4.2 4.8 5.9 6.5 6.1

2000 2001 2002 2003 2004

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

1 643.3 1 567.9 1 468.1 1 521.1 1 648.9

2 040.0 1 938.3 1 926.4 2 025.6 2 300.6

1 735.5 1 614.3 1 582.1 1 670.4 1 928.1

304.5 324.0 344.3 355.3 372.5

0.8 1.1 1.4 3.2 1.6

-397.4 -371.5 -459.7 -507.7 -653.4

-127.2 -89.6 -21.0 47.1 76.8

852.1 656.9 634.4 694.3 865.3

9 983.1 10 261.3 10 521.2 10 992.3 11 711.2

17.7 16.2 14.2 13.4 13.4

5.8 3.7 1.9 1.3 1.2

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 482.1 1 455.9 1 476.1 1 458.3

1 903.1 1 915.4 1 939.7 1 947.4

1 564.1 1 571.4 1 592.9 1 600.1

339.0 343.9 346.8 347.4

1.2 1.2 1.5 1.6

-422.2 -460.7 -465.1 -490.7

-53.6 -56.7 14.6 11.7

621.1 627.2 644.8 644.7

10 413.1 10 499.9 10 542.4 10 629.4

14.7 14.4 13.9 13.6

2.4 2.1 1.6 1.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 429.8 1 471.2 1 555.3 1 628.2

1 958.9 1 974.5 2 054.4 2 114.7

1 610.0 1 619.3 1 694.2 1 757.9

349.0 355.2 360.1 356.8

1.7 6.4 3.3 1.4

-530.8 -509.6 -502.4 -487.9

16.6 14.4 85.3 72.0

647.1 650.6 717.2 762.2

10 745.4 10 897.0 11 069.4 11 257.2

13.2 13.4 13.3 13.8

0.9 1.2 1.2 1.8

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 612.5 1 654.5 1 680.9 1 647.6

2 178.7 2 303.4 2 334.0 2 386.2

1 818.2 1 928.5 1 961.2 2 004.5

360.4 375.0 372.9 381.7

1.7 1.5 1.6 1.8

-567.9 -650.4 -654.7 -740.4

77.8 108.1 90.8 30.6

807.5 909.6 799.9 944.2

11 462.3 11 604.7 11 776.5 12 001.4

13.4 13.3 13.5 13.5

1.4 1.3 0.5 1.5

. . . = Not available.

92

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-2. Gross Private Fixed Investment by Type (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 5.3.5 Nonresidential

Structures Year and quarter

Total gross private fixed investment

Total

Commercial and health care

Total

Manufacturing

Equipment and software

Power and communication

Information processing equipment and software

Mining exploration, shafts, and wells

Other nonresidential structures

Computers and peripheral equipment

Total Total

1947 ................................. 1948 ................................. 1949 .................................

35.5 42.4 39.6

23.5 26.8 24.9

8.1 9.5 9.2

1.1 1.5 1.4

1.7 1.4 1.0

1.8 2.4 2.7

0.9 1.2 1.2

2.6 2.9 2.9

15.3 17.3 15.7

1.7 1.8 1.6

... ... ...

1950 1951 1952 1953 1954

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

48.3 50.3 50.5 54.5 55.8

27.8 31.8 31.9 35.1 34.7

10.0 12.0 12.2 13.6 13.9

1.8 1.9 1.6 2.1 2.6

1.1 2.1 2.3 2.2 2.0

2.8 3.0 3.1 3.6 3.3

1.4 1.7 2.0 2.1 2.3

2.9 3.2 3.3 3.5 3.6

17.8 19.9 19.7 21.5 20.8

1.8 2.1 2.4 2.7 2.4

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

1955 1956 1957 1958 1959

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

64.0 68.1 69.7 64.9 74.6

39.0 44.5 47.5 42.5 46.5

15.2 18.2 19.0 17.6 18.1

3.4 4.2 4.1 4.2 4.6

2.3 3.2 3.6 2.4 2.1

3.3 4.1 4.5 4.4 4.3

2.5 2.7 2.6 2.4 2.5

3.7 4.0 4.1 4.2 4.7

23.9 26.3 28.6 24.9 28.4

2.8 3.4 4.0 3.6 4.0

... ... ... ... 0.0

1960 1961 1962 1963 1964

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

75.7 75.2 82.0 88.1 97.2

49.4 48.8 53.1 56.0 63.0

19.6 19.7 20.8 21.2 23.7

4.8 5.5 6.2 6.1 6.8

2.9 2.8 2.8 2.9 3.6

4.4 4.1 4.1 4.4 4.8

2.3 2.3 2.5 2.3 2.4

5.2 5.0 5.2 5.6 6.2

29.8 29.1 32.3 34.8 39.2

4.9 5.3 5.7 6.5 7.4

0.2 0.3 0.3 0.7 0.9

1965 1966 1967 1968 1969

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

109.0 117.7 118.7 132.1 147.3

74.8 85.4 86.4 93.4 104.7

28.3 31.3 31.5 33.6 37.7

8.2 8.3 8.2 9.4 11.7

5.1 6.6 6.0 6.0 6.8

5.4 6.3 7.1 8.3 8.7

2.4 2.5 2.4 2.6 2.8

7.2 7.8 7.8 7.3 7.8

46.5 54.0 54.9 59.9 67.0

8.5 10.7 11.3 11.9 14.6

1.2 1.7 1.9 1.9 2.4

1970 1971 1972 1973 1974

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

150.4 169.9 198.5 228.6 235.4

109.0 114.1 128.8 153.3 169.5

40.3 42.7 47.2 55.0 61.2

12.5 14.9 17.6 19.8 20.6

7.0 6.3 5.9 7.9 10.0

10.2 11.0 12.1 13.8 15.1

2.8 2.7 3.1 3.5 5.2

7.8 7.9 8.6 9.9 10.3

68.7 71.5 81.7 98.3 108.2

16.6 17.3 19.5 23.1 27.0

2.7 2.8 3.5 3.5 3.9

1975 1976 1977 1978 1979

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

236.5 274.8 339.0 412.2 474.9

173.7 192.4 228.7 280.6 333.9

61.4 65.9 74.6 93.6 117.7

17.7 18.1 20.3 25.3 33.5

10.6 10.1 11.1 16.2 22.0

15.7 18.2 19.3 21.4 24.6

7.4 8.6 11.5 15.4 19.0

10.1 11.0 12.5 15.2 18.5

112.4 126.4 154.1 187.0 216.2

28.5 32.7 39.2 48.7 58.5

3.6 4.4 5.7 7.6 10.2

1980 1981 1982 1983 1984

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

485.6 542.6 532.1 570.1 670.2

362.4 420.0 426.5 417.2 489.6

136.2 167.3 177.6 154.3 177.4

41.0 48.3 55.8 55.8 70.6

20.5 25.4 26.1 19.5 20.9

27.3 30.0 29.6 25.8 26.5

27.4 42.5 44.8 30.0 31.3

20.0 21.2 21.3 23.3 28.1

226.2 252.7 248.9 262.9 312.2

68.8 81.5 88.3 100.1 121.5

12.5 17.1 18.9 23.9 31.6

1985 1986 1987 1988 1989

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

714.4 739.9 757.8 803.1 847.3

526.2 519.8 524.1 563.8 607.7

194.5 176.5 174.2 182.8 193.7

84.1 80.9 80.8 86.3 88.3

24.1 21.0 21.2 23.2 28.8

26.5 28.3 25.4 25.0 27.5

27.9 15.7 13.1 15.7 14.9

31.8 30.7 33.7 32.5 34.3

331.7 343.3 349.9 381.0 414.0

130.3 136.8 141.2 154.9 172.6

33.7 33.4 35.8 38.0 43.1

1990 1991 1992 1993 1994

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

846.4 803.3 848.5 932.5 1 033.3

622.4 598.2 612.1 666.6 731.4

202.9 183.6 172.6 177.2 186.8

87.5 68.9 64.5 69.4 75.4

33.6 31.4 29.0 23.6 28.9

26.3 31.6 33.9 33.2 31.2

17.9 18.5 14.2 16.6 16.4

37.6 33.2 31.0 34.5 34.9

419.5 414.6 439.6 489.4 544.6

177.2 182.9 199.9 217.6 235.2

38.6 37.7 44.0 47.9 52.4

1995 1996 1997 1998 1999

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

1 112.9 1 209.5 1 317.8 1 438.4 1 558.8

810.0 875.4 968.7 1 052.6 1 133.9

207.3 224.6 250.3 275.2 282.2

83.1 91.5 104.3 115.4 124.3

35.5 38.2 37.6 40.5 32.6

33.1 29.2 28.8 33.6 39.5

15.0 16.8 22.4 23.4 20.6

40.6 49.0 57.3 62.3 65.2

602.8 650.8 718.3 777.3 851.7

263.0 290.1 330.3 363.4 411.0

66.1 72.8 81.4 87.2 96.0

2000 2001 2002 2003 2004

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

1 679.0 1 646.1 1 570.2 1 654.9 1 872.6

1 232.1 1 176.8 1 066.3 1 082.4 1 198.8

313.2 322.6 279.2 276.9 298.4

137.6 134.9 116.8 112.4 121.9

31.8 29.5 17.8 16.7 18.4

46.8 49.6 49.5 43.6 40.0

27.2 39.2 35.6 45.5 56.2

69.9 69.4 59.5 58.7 61.9

918.9 854.2 787.1 805.6 900.4

467.6 437.0 399.4 405.7 447.0

101.4 85.4 77.2 77.6 91.6

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 572.4 1 568.8 1 566.8 1 572.8

1 085.2 1 067.8 1 061.4 1 050.7

292.2 280.9 272.1 271.7

122.9 117.9 114.1 112.2

20.4 18.4 16.3 16.1

55.8 50.2 45.7 46.5

32.0 33.4 38.0 39.1

61.2 61.0 58.0 57.9

793.0 787.0 789.3 779.0

402.9 400.3 403.7 390.6

79.7 76.4 78.1 74.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 588.2 1 619.7 1 683.7 1 728.2

1 048.2 1 066.8 1 098.8 1 116.0

268.4 277.1 279.0 283.0

110.1 110.9 113.3 115.2

15.9 17.1 17.0 17.0

45.1 43.3 41.8 44.1

40.5 45.7 47.8 48.0

56.8 60.0 59.2 58.6

779.8 789.7 819.8 833.0

392.0 395.3 412.9 422.8

73.9 75.0 79.1 82.3

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 772.7 1 856.6 1 908.7 1 952.6

1 140.7 1 182.7 1 219.0 1 252.9

285.3 296.3 302.1 309.8

115.9 123.2 124.9 123.8

17.1 16.9 17.9 21.5

42.6 38.2 39.6 39.6

51.5 56.2 56.0 61.1

58.3 61.8 63.7 63.8

855.3 886.5 916.9 943.1

436.5 444.3 450.9 456.3

86.6 90.0 92.3 97.5

. . . = Not available.

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

93

Table 5-2. Gross Private Fixed Investment by Type—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

Year and quarter

NIPA Table 5.3.5

Nonresidential—Continued

Residential

Equipment and software—Continued

Residential structures

Information processing equipment and software —Continued

Permanent site Industrial equipment

Transportation equipment

Other nonresidential equipment

Total

Residential equipment

Multifamily

Other residential structures

... ... ...

... ... ...

3.5 4.2 3.7

0.3 0.3 0.3

16.1 13.8 13.4 13.9 15.4

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

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

4.0 4.3 4.9 5.1 5.3

0.4 0.4 0.4 0.4 0.4

24.6 23.1 21.7 21.9 27.5

18.6 16.5 15.1 15.4 19.7

... ... ... 13.1 16.7

... ... ... 2.3 3.0

6.0 6.6 6.6 6.4 7.9

0.4 0.5 0.5 0.5 0.6

26.3 26.4 29.0 32.1 34.3

25.8 25.9 28.4 31.5 33.6

17.5 17.4 19.9 22.4 24.1

14.9 14.1 15.1 16.0 17.6

2.6 3.3 4.8 6.4 6.4

8.3 8.5 8.5 9.1 9.5

0.5 0.5 0.5 0.6 0.6

11.0 12.7 12.4 13.0 14.4

34.2 32.3 32.4 38.7 42.6

33.5 31.6 31.6 37.9 41.6

23.8 21.8 21.5 26.7 29.2

17.8 16.6 16.8 19.5 19.7

6.0 5.2 4.7 7.2 9.5

9.7 9.8 10.1 11.1 12.4

0.7 0.7 0.7 0.9 1.0

16.2 18.4 21.8 26.6 26.3

15.6 16.3 19.0 22.6 24.3

41.4 55.8 69.7 75.3 66.0

40.2 54.5 68.1 73.6 64.1

27.1 38.7 50.1 54.6 43.4

17.5 25.8 32.8 35.2 29.7

9.5 12.9 17.2 19.4 13.7

13.2 15.8 18.0 19.0 20.7

1.1 1.3 1.5 1.7 1.9

31.3 34.1 39.4 47.7 56.2

25.2 30.0 39.3 47.3 53.6

27.4 29.6 36.3 43.2 47.9

62.7 82.5 110.3 131.6 141.0

60.8 80.4 107.9 128.9 137.8

36.3 50.8 72.2 85.6 89.3

29.6 43.9 62.2 72.8 72.3

6.7 6.9 10.0 12.8 17.0

24.5 29.6 35.7 43.3 48.6

1.9 2.1 2.4 2.7 3.2

46.4 52.5 55.3 59.8 69.6

60.7 65.5 62.7 58.9 68.1

48.4 50.6 46.8 53.5 64.4

48.3 55.2 51.2 50.4 58.1

123.2 122.6 105.7 152.9 180.6

119.8 118.9 102.0 148.6 175.9

69.6 69.4 57.0 95.0 114.6

52.9 52.0 41.5 72.5 86.4

16.7 17.5 15.5 22.4 28.2

50.2 49.5 45.0 53.7 61.3

3.4 3.6 3.7 4.2 4.7

23.8 25.6 29.0 34.2 41.9

72.9 77.7 76.4 82.8 87.6

72.5 75.4 76.7 84.2 93.3

69.0 70.5 68.1 72.9 67.9

59.9 60.7 63.9 69.0 80.2

188.2 220.1 233.7 239.3 239.5

183.1 214.6 227.9 233.2 233.4

115.9 135.2 142.7 142.4 143.2

87.4 104.1 117.2 120.1 120.9

28.5 31.0 25.5 22.3 22.3

67.2 79.4 85.2 90.9 90.1

5.1 5.5 5.8 6.1 6.1

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

47.6 53.7 57.9 64.3 68.3

90.9 91.5 98.1 105.4 114.6

92.1 89.3 93.0 102.2 113.6

70.0 71.5 74.7 89.4 107.7

80.2 70.8 72.0 80.2 88.1

224.0 205.1 236.3 266.0 301.9

218.0 199.4 230.4 259.9 295.6

132.1 114.6 135.1 150.9 176.4

112.9 99.4 122.0 140.1 162.3

19.3 15.1 13.1 10.8 14.1

85.8 84.8 95.3 109.0 119.2

6.0 5.7 5.9 6.1 6.2

1995 1996 1997 1998 1999

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

74.6 85.5 107.5 124.0 152.6

122.3 131.9 141.4 152.2 162.4

129.0 136.5 140.4 146.4 147.0

116.1 123.2 135.5 144.0 167.6

94.7 101.0 112.1 123.5 126.0

302.8 334.1 349.1 385.8 424.9

296.5 327.8 342.8 379.3 417.8

171.4 191.1 198.1 224.0 251.3

153.5 170.8 175.2 199.4 223.8

17.9 20.3 22.9 24.6 27.4

125.1 136.7 144.8 155.3 166.6

6.3 6.3 6.3 6.6 7.0

2000 2001 2002 2003 2004

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

176.2 174.7 167.6 170.0 178.5

190.0 177.0 154.5 158.2 176.9

159.2 146.7 135.7 137.1 145.3

160.8 141.7 126.3 127.9 151.9

131.2 128.8 125.7 134.8 156.2

446.9 469.3 503.9 572.5 673.8

439.5 461.9 496.3 564.7 665.4

265.0 279.4 298.8 345.7 416.1

236.8 249.1 265.9 310.6 377.6

28.3 30.3 33.0 35.1 38.5

174.5 182.5 197.5 219.0 249.4

7.4 7.4 7.6 7.8 8.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

165.9 167.7 171.0 166.0

157.3 156.2 154.7 149.9

136.7 133.6 136.0 136.4

130.6 126.9 123.1 124.7

122.8 126.1 126.5 127.3

487.2 501.0 505.4 522.1

479.6 493.3 497.8 514.5

286.6 297.2 301.0 310.7

254.3 264.0 267.9 277.4

32.2 33.2 33.1 33.3

193.0 196.2 196.9 203.8

7.6 7.7 7.6 7.6

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

165.6 166.7 173.0 174.6

152.5 153.6 160.8 165.9

140.7 137.6 136.9 133.3

119.0 127.2 131.6 133.7

128.1 129.5 138.4 143.3

540.0 552.9 584.9 612.2

532.4 545.2 576.9 604.1

326.2 330.4 349.4 376.8

291.4 296.2 313.8 341.0

34.9 34.2 35.6 35.8

206.2 214.8 227.5 227.3

7.5 7.7 8.0 8.1

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

176.1 176.9 179.9 181.1

173.9 177.4 178.6 177.8

139.9 139.5 149.3 152.6

133.3 150.3 155.6 168.4

145.6 152.4 161.0 165.8

632.0 673.9 689.7 699.7

623.8 665.5 681.3 691.1

390.8 414.6 427.6 431.2

354.5 376.7 388.1 390.9

36.3 37.9 39.5 40.3

233.0 251.0 253.7 259.8

8.2 8.3 8.4 8.6

Total

Software 1

Other information processing

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

1.7 1.8 1.6

4.6 4.6 3.7

4.9 5.5 5.7

4.1 5.4 4.7

12.1 15.6 14.6

11.8 15.3 14.3

8.3 11.2 10.7

1950 1951 1952 1953 1954

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

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

1.8 2.1 2.4 2.7 2.4

4.5 5.7 5.9 6.7 7.1

6.4 6.6 5.7 6.6 6.0

5.1 5.5 5.6 5.6 5.3

20.5 18.4 18.6 19.4 21.1

20.2 18.1 18.2 19.0 20.7

1955 1956 1957 1958 1959

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

... ... ... ... 0.0

2.8 3.4 4.0 3.6 4.0

7.3 8.8 9.6 8.2 8.5

7.5 7.4 8.3 6.1 8.3

6.3 6.7 6.7 6.9 7.6

25.0 23.6 22.2 22.3 28.1

1960 1961 1962 1963 1964

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

0.1 0.2 0.2 0.4 0.5

4.6 4.8 5.1 5.4 5.9

9.4 8.8 9.3 10.0 11.4

8.5 8.0 9.8 9.4 10.6

7.1 7.0 7.5 8.8 9.9

1965 1966 1967 1968 1969

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

0.7 1.0 1.2 1.3 1.8

6.7 8.0 8.2 8.7 10.4

13.7 16.2 16.9 17.3 19.1

13.2 14.5 14.3 17.6 18.9

1970 1971 1972 1973 1974

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

2.3 2.4 2.8 3.2 3.9

11.6 12.2 13.2 16.3 19.2

20.3 19.5 21.4 26.0 30.7

1975 1976 1977 1978 1979

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

4.8 5.2 5.5 6.3 8.1

20.2 23.1 28.0 34.8 40.2

1980 1981 1982 1983 1984

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

9.8 11.8 14.0 16.4 20.4

1985 1986 1987 1988 1989

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

1990 1991 1992 1993 1994

1Excludes

software "embedded," or bundled, in computers and other equipment. . . . = Not available.

Total

Single family

94

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 5-2. Private Fixed Investment by Type, 1948 and 2004 1948

2004

Information processing 4.2% Other nonresidential equipment 36.6%

Residential investment 36.8% Nonresidential structures 22.4%

Information processing 23.9%

Residential investment 36%

Other nonresidential equipment 24.2%

Nonresidential structures 15.9%

• The boom in residential fixed investment during the first years of the new century brought that category of spending almost back to its share in 1948. Within nonresidential investment spending, information processing took a much larger share, while the shares for structures and other types of equipment declined. (Table 5-2)

95

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES Table 5-3. Real Gross Private Fixed Investment by Type (Billions of chained [2000] dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 5.3.6

Nonresidential Structures Year and quarter

Total gross private fixed investment

Total Total

Commercial and health care

Manufacturing

Equipment and software

Power and communication

Information processing equipment and software

Mining exploration, shafts, and wells

Other nonresidential structures

Total Total

Computers and peripheral equipment 1

1990 1991 1992 1993 1994

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

886.6 829.1 878.3 953.5 1 042.3

595.1 563.2 581.3 631.9 689.9

275.2 244.6 229.9 228.3 232.3

119.6 92.9 86.4 89.9 94.1

45.4 41.8 38.4 30.2 35.7

33.4 39.6 42.0 39.3 35.6

26.6 26.0 21.5 24.8 23.9

50.4 43.8 40.6 43.8 42.8

355.0 345.9 371.1 417.4 467.2

100.7 105.9 122.2 138.2 155.7

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

1995 1996 1997 1998 1999

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

1 109.6 1 209.2 1 320.6 1 455.0 1 576.3

762.5 833.6 934.2 1 037.8 1 133.3

247.1 261.1 280.1 294.5 293.2

99.7 107.4 118.6 125.4 129.4

42.1 44.2 42.3 43.7 33.9

36.3 31.3 30.1 34.7 40.8

20.3 21.5 25.3 23.3 21.3

47.9 56.4 63.9 67.4 67.9

523.1 578.7 658.3 745.6 840.2

182.7 218.9 269.9 328.9 398.5

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

2000 2001 2002 2003 2004

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

1 679.0 1 629.4 1 544.6 1 600.0 1 755.1

1 232.1 1 180.5 1 071.5 1 085.0 1 186.7

313.2 306.1 253.8 243.1 248.4

137.6 130.3 109.8 102.8 105.0

31.8 28.5 16.7 15.4 16.2

46.8 48.2 47.1 40.5 35.7

27.2 32.0 24.5 28.8 33.5

69.9 66.6 55.9 53.6 53.9

918.9 874.2 820.2 846.8 947.6

467.6 459.0 437.4 459.7 522.4

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

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

919.1 939.7 956.3 998.7

609.6 625.9 632.8 659.3

226.9 226.6 227.7 231.9

89.3 89.8 88.5 92.0

30.6 28.9 30.5 30.6

41.6 39.4 38.2 37.9

24.1 23.6 24.5 27.0

40.7 44.4 45.6 44.5

398.3 413.1 418.6 439.7

132.1 134.8 141.8 144.4

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

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 011.6 1 036.0 1 046.4 1 075.1

665.9 679.3 692.0 722.6

222.4 235.0 234.7 237.1

87.7 96.9 96.0 95.8

31.4 35.6 36.6 39.1

36.2 35.2 35.4 35.6

23.7 23.3 23.8 25.0

43.1 43.8 42.7 41.7

452.1 455.7 467.4 493.7

149.0 152.7 157.1 164.0

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

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 099.6 1 095.5 1 110.1 1 133.3

752.1 757.4 762.5 777.9

243.1 247.9 249.8 247.7

99.0 100.3 100.1 99.3

40.0 43.3 43.0 42.0

37.2 37.3 36.4 34.4

22.0 20.0 19.6 19.6

44.4 46.1 49.7 51.5

516.5 517.8 521.2 537.0

171.6 180.2 184.1 194.8

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

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 161.8 1 199.7 1 227.4 1 247.8

797.1 820.0 847.3 870.1

252.1 257.6 260.7 273.8

99.6 106.0 109.4 114.5

44.3 43.4 42.5 46.8

32.8 31.2 30.1 30.9

20.4 21.9 21.9 22.1

54.4 54.9 56.8 59.3

551.6 568.7 591.8 602.9

205.1 214.1 224.3 232.0

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

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 272.0 1 299.4 1 349.6 1 361.4

892.2 914.3 961.1 969.0

276.2 273.7 284.2 286.3

119.4 114.6 120.9 119.4

42.4 40.9 43.6 42.2

29.1 29.5 30.6 31.3

24.8 25.6 25.1 25.7

60.7 63.2 64.1 67.8

621.8 644.7 680.5 686.3

246.6 260.7 280.6 291.5

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

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 402.4 1 444.5 1 465.1 1 507.7

1 001.6 1 032.5 1 042.4 1 074.7

286.7 298.0 295.5 297.6

120.8 126.7 124.7 129.5

44.8 44.6 43.2 42.1

34.0 34.9 35.1 35.0

23.6 24.0 23.9 21.8

63.5 67.9 68.6 69.5

717.2 737.3 749.1 778.6

309.9 322.7 332.2 350.7

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

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 531.0 1 568.6 1 598.6 1 606.9

1 094.0 1 127.3 1 154.4 1 157.3

292.0 294.1 291.8 294.8

128.4 129.5 129.9 129.9

38.1 34.3 32.6 30.5

36.7 39.2 42.6 44.8

20.0 21.7 20.5 22.8

68.9 69.6 66.2 66.9

802.7 833.5 862.4 862.3

369.5 395.8 412.8 415.8

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

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 651.1 1 689.1 1 686.4 1 689.4

1 196.7 1 238.6 1 245.2 1 247.9

299.9 312.5 319.7 320.6

130.8 136.7 140.8 141.9

31.0 33.0 31.6 31.6

44.7 45.7 47.8 49.0

24.2 26.9 28.2 29.4

69.2 70.2 71.3 68.8

896.7 926.0 925.5 927.3

442.9 465.7 473.8 488.1

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

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 678.2 1 640.5 1 621.9 1 577.0

1 234.4 1 190.2 1 169.3 1 128.2

313.8 310.6 315.1 284.9

140.8 135.4 126.1 118.9

32.4 30.2 28.9 22.6

44.1 47.6 49.1 52.2

31.7 32.6 34.1 29.7

64.6 64.4 76.1 61.1

920.8 879.2 852.9 843.8

485.7 461.4 447.3 441.7

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

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 551.5 1 545.9 1 543.2 1 537.8

1 090.3 1 073.3 1 068.0 1 054.5

270.3 256.4 245.8 242.5

116.5 111.2 107.3 104.2

19.3 17.3 15.2 14.9

53.5 47.9 43.2 43.8

24.0 23.4 25.4 25.4

57.9 57.4 54.5 53.8

820.9 819.0 825.7 815.4

435.0 437.1 444.2 433.3

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

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 540.9 1 573.7 1 629.0 1 656.3

1 051.6 1 072.9 1 101.8 1 113.7

237.3 244.8 244.7 245.5

101.1 102.0 103.8 104.2

14.6 15.8 15.7 15.6

42.1 40.3 38.7 40.8

26.2 29.4 30.0 29.6

52.1 55.1 54.2 53.1

818.7 832.0 862.4 874.0

439.4 445.3 469.0 485.3

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

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 684.4 1 744.5 1 780.2 1 811.3

1 135.1 1 171.6 1 204.8 1 235.1

243.4 248.5 249.4 252.3

102.7 106.9 106.4 104.1

15.5 15.1 15.6 18.5

39.2 34.3 35.0 34.5

31.0 33.9 33.4 35.9

52.1 54.2 55.0 54.5

899.1 931.4 965.6 994.2

504.8 517.4 527.9 539.7

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

1See

notes and definitions. . . . = Not available.

96

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-3. Real Gross Private Fixed Investment by Type—Continued (Billions of chained [2000] dollars, quarterly data are at seasonally adjusted annual rates.)

Year and quarter

NIPA Table 5.3.6

Nonresidential—Continued

Residential

Equipment and software—Continued

Residential structures

Information processing equipment and software —Continued Software 2

Other information processing

Permanent site Industrial equipment

Transportation equipment

Other nonresidential equipment

Total Total Total

Single family

Multifamily

Other residential structures

Residential equipment

1990 1991 1992 1993 1994

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

39.9 45.1 53.0 59.3 65.1

80.1 79.6 84.4 90.9 99.4

109.2 102.2 104.0 112.9 122.9

81.0 78.8 80.2 95.1 111.4

96.0 82.0 81.6 89.3 96.5

298.9 270.2 307.6 332.7 364.8

292.6 264.0 301.4 326.4 358.6

181.3 156.1 182.0 194.3 217.6

154.2 135.1 164.1 179.7 198.9

26.7 20.6 17.5 14.1 18.2

111.6 107.8 119.5 132.1 141.2

6.0 5.8 6.0 6.1 6.1

1995 1996 1997 1998 1999

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

71.6 84.1 108.8 129.4 157.2

107.0 117.2 127.3 143.2 158.0

134.9 139.9 143.0 148.1 147.9

120.6 125.4 135.9 145.4 167.7

101.7 105.6 115.8 125.7 126.7

353.1 381.3 388.6 418.3 443.6

346.8 375.1 382.4 411.9 436.6

203.2 222.3 223.5 244.7 262.9

180.6 197.3 196.6 218.1 234.2

22.6 25.0 26.9 26.6 28.7

143.4 152.8 158.8 167.1 173.6

6.2 6.2 6.1 6.4 7.0

2000 2001 2002 2003 2004

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

176.2 173.8 169.7 175.7 188.8

190.0 181.7 161.1 166.2 188.9

159.2 145.7 134.5 134.9 139.4

160.8 142.8 126.0 123.1 138.7

131.2 126.9 122.9 130.7 150.0

446.9 448.5 469.9 509.4 561.8

439.5 441.1 462.2 501.3 552.9

265.0 266.6 277.3 304.5 340.9

236.8 237.1 246.3 272.6 307.5

28.3 29.5 31.0 31.9 33.2

174.5 174.5 184.9 196.8 211.8

7.4 7.4 7.7 8.1 8.9

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

57.5 58.6 60.0 61.1

87.2 88.7 93.1 94.8

110.0 110.6 112.1 118.8

86.1 98.5 91.5 104.3

87.6 88.5 89.3 92.0

320.1 323.8 335.0 351.9

313.8 317.5 328.7 345.7

188.6 188.8 194.5 205.4

174.3 174.8 179.3 190.5

13.8 13.5 14.7 14.4

125.3 128.8 134.1 140.3

6.1 6.1 6.2 6.0

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

63.0 64.4 66.0 67.1

96.5 98.0 100.1 102.9

119.7 120.6 123.9 127.6

109.3 105.2 108.0 123.2

94.1 95.7 97.0 99.3

358.8 370.9 367.0 362.3

352.8 364.8 360.9 355.9

213.3 222.5 219.7 214.8

197.5 204.6 199.7 193.8

15.2 17.4 19.6 20.7

139.6 142.5 141.4 141.3

6.0 6.1 6.1 6.3

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

68.1 70.2 72.7 75.6

106.6 107.6 105.8 108.0

133.2 135.3 136.2 135.0

130.5 117.7 115.4 118.6

102.3 101.5 101.1 102.1

354.2 342.9 353.6 361.6

347.9 336.6 347.2 355.3

208.2 196.4 200.5 207.9

186.2 174.7 177.2 184.1

21.8 21.6 23.2 23.8

139.8 140.1 146.6 147.3

6.2 6.1 6.2 6.2

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

78.6 81.9 85.4 90.3

113.0 116.2 119.6 120.1

138.2 140.8 139.5 141.2

117.1 120.8 132.0 131.8

103.0 104.3 107.1 108.0

371.1 386.8 385.7 381.8

364.9 380.5 379.6 375.5

215.2 227.0 225.1 221.9

190.4 200.2 201.1 197.4

24.8 26.9 23.8 24.5

149.7 153.5 154.5 153.6

6.1 6.3 6.1 6.2

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.8 105.1 111.8 118.7

120.9 124.1 131.1 133.1

140.5 143.2 143.9 144.2

132.2 135.2 142.3 133.8

110.6 112.4 119.4 120.8

383.1 387.9 389.7 393.6

377.0 381.8 383.5 387.5

221.4 224.2 222.2 226.2

195.1 197.0 196.0 198.4

26.3 27.3 26.2 27.9

155.5 157.5 161.1 161.1

6.1 6.1 6.1 6.2

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

122.1 126.2 131.5 137.8

139.5 142.2 143.1 148.1

151.1 149.4 145.9 146.2

134.7 140.3 146.8 159.8

125.0 127.8 126.5 123.8

401.8 412.9 424.1 434.3

395.5 406.5 417.7 427.7

232.9 239.5 249.3 257.2

205.0 213.5 223.3 230.6

27.9 26.1 26.0 26.6

162.6 166.9 168.4 170.6

6.3 6.4 6.5 6.6

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

144.9 154.5 162.2 167.2

149.8 157.0 162.8 162.4

145.6 147.4 149.2 149.3

161.4 165.7 174.6 169.1

127.5 125.1 126.1 128.2

438.1 441.8 444.5 449.9

431.3 434.9 437.3 442.7

261.1 260.3 262.0 268.4

232.5 231.8 232.8 239.6

28.6 28.4 29.2 28.8

170.3 174.6 175.3 174.4

6.7 7.0 7.2 7.2

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

171.4 175.8 176.2 181.2

179.9 187.7 192.3 200.2

156.3 159.7 161.9 159.0

166.1 167.0 159.5 150.7

131.3 133.6 130.4 129.6

454.5 450.4 441.2 441.6

447.1 443.1 433.8 434.2

272.6 268.8 259.3 259.5

243.5 239.7 232.4 231.5

29.0 29.1 26.8 28.0

174.6 174.3 174.5 174.6

7.3 7.3 7.4 7.4

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

181.4 174.1 172.3 167.4

193.7 182.9 177.8 172.2

159.3 147.3 140.6 135.4

145.3 144.5 137.6 144.0

130.9 126.3 127.6 122.8

444.0 450.1 452.1 447.8

436.6 442.7 444.8 440.4

263.7 268.4 269.7 264.6

234.6 239.1 240.3 234.5

29.1 29.3 29.4 30.1

172.8 174.3 175.1 175.8

7.4 7.4 7.3 7.5

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

166.3 170.2 173.4 168.7

162.9 162.6 161.7 157.1

135.8 132.7 134.7 134.9

130.4 126.1 124.1 123.5

120.3 123.8 123.6 124.1

459.0 469.5 471.8 479.3

451.4 461.8 464.2 471.6

268.7 277.3 280.1 283.3

238.0 245.9 248.9 252.4

30.8 31.4 31.2 30.8

182.7 184.5 184.1 188.3

7.6 7.7 7.6 7.7

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

169.8 171.0 178.9 183.2

159.7 161.1 169.1 174.9

138.8 135.6 134.5 130.7

116.7 126.3 126.6 122.6

124.5 125.5 134.0 138.8

484.8 496.0 521.2 535.7

477.1 488.0 512.9 527.1

289.3 293.6 308.9 326.0

257.8 262.4 276.4 293.8

31.6 31.2 32.5 32.2

187.7 194.4 204.0 201.0

7.7 7.9 8.3 8.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

185.5 186.9 190.0 192.8

184.7 189.5 191.1 190.3

135.9 134.4 142.8 144.5

121.9 136.7 142.8 153.3

141.3 146.4 154.3 158.0

542.4 565.1 568.8 571.0

533.7 556.2 559.7 561.8

330.3 341.1 345.8 346.3

298.0 308.2 312.0 312.0

32.1 32.8 33.7 34.2

203.3 215.0 213.7 215.3

8.7 8.8 9.0 9.2

2Excludes

software "embedded," or bundled, in computers and other equipment.

97

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES Table 5-4. Chain-Type Quantity Indexes for Private Fixed Investment by Type (Index numbers, 2000 = 100.)

NIPA Table 5.3.3 Nonresidential Structures

Year and quarter

Total gross private fixed investment

Total Total

Commercial and health care

Manufacturing

Equipment and software

Power and communication

Information processing equipment and software

Mining exploration, shafts, and wells

Other nonresidential structures

Computers and peripheral equipment

Total Total

1947 ................................. 1948 ................................. 1949 .................................

10.8 11.9 10.9

8.2 8.7 7.9

24.2 25.5 24.6

7.1 9.1 8.4

47.9 35.3 25.3

34.3 41.0 43.1

30.9 37.9 38.4

34.9 34.9 35.3

5.1 5.3 4.7

0.2 0.2 0.2

... ... ...

1950 1951 1952 1953 1954

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

13.0 12.4 12.2 13.0 13.3

8.6 9.0 8.8 9.6 9.4

26.4 28.4 28.3 30.8 31.9

10.8 10.4 8.1 11.1 13.8

27.8 48.8 52.2 49.9 46.7

42.9 43.1 43.5 47.8 43.7

45.6 47.9 53.3 58.2 64.4

34.9 34.1 34.3 35.6 37.5

5.1 5.3 5.1 5.6 5.3

0.2 0.2 0.2 0.3 0.2

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

1955 1956 1957 1958 1959

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

15.0 15.0 14.9 13.8 15.7

10.4 11.0 11.2 10.0 10.8

34.2 37.8 37.7 35.7 36.5

17.9 20.3 19.3 20.3 22.0

51.1 67.1 71.2 49.1 43.8

41.6 48.6 50.5 48.5 46.5

69.3 67.0 63.3 59.2 60.7

37.6 37.2 37.2 38.9 42.9

6.0 6.2 6.3 5.4 6.1

0.3 0.3 0.3 0.3 0.3

... ... ... ... 0.0

1960 1961 1962 1963 1964

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

15.9 15.8 17.2 18.6 20.4

11.4 11.3 12.3 13.0 14.5

39.4 40.0 41.8 42.2 46.6

23.4 26.7 29.7 28.7 31.2

59.3 58.0 58.6 58.8 70.7

47.0 44.0 44.3 47.2 51.4

57.0 58.1 60.9 57.2 61.2

47.7 46.6 47.6 50.3 55.2

6.3 6.2 6.9 7.5 8.5

0.4 0.4 0.5 0.6 0.7

0.0 0.0 0.0 0.0 0.0

1965 1966 1967 1968 1969

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

22.5 23.7 23.3 24.9 26.5

17.0 19.2 18.9 19.7 21.2

54.1 57.8 56.3 57.1 60.2

36.6 35.7 34.3 37.5 43.3

97.8 121.5 106.9 102.9 108.2

56.9 64.9 71.0 78.9 78.9

60.5 57.3 54.8 55.1 57.5

62.0 64.4 63.0 55.8 55.4

10.0 11.6 11.5 12.3 13.3

0.8 1.1 1.1 1.2 1.5

0.0 0.0 0.0 0.0 0.0

1970 1971 1972 1973 1974

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

25.9 27.9 31.2 34.1 32.0

21.1 21.1 23.1 26.4 26.7

60.4 59.4 61.2 66.2 64.8

43.9 47.9 52.3 54.7 51.3

104.5 86.3 75.4 93.4 106.4

86.3 87.0 90.7 96.5 90.4

54.1 50.0 53.7 57.3 68.1

52.1 48.8 49.3 53.1 48.7

13.2 13.3 15.1 17.8 18.3

1.7 1.8 2.0 2.4 2.7

0.0 0.0 0.0 0.0 0.0

1975 1976 1977 1978 1979

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

28.5 31.4 35.9 40.2 42.5

24.0 25.2 28.0 32.2 35.5

58.0 59.4 61.8 70.8 79.7

39.9 39.4 41.5 47.3 56.4

102.0 94.2 96.8 129.1 158.6

83.1 90.6 89.2 93.5 97.0

79.5 85.8 96.9 110.5 117.7

43.0 45.2 47.7 54.1 59.5

16.5 17.6 20.2 23.3 25.3

2.7 3.1 3.8 4.9 5.9

0.0 0.1 0.1 0.2 0.3

1980 1981 1982 1983 1984

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

39.7 40.6 37.7 40.5 47.3

35.4 37.4 36.0 35.5 41.8

84.4 91.1 89.5 79.9 91.0

61.9 66.9 72.8 70.7 86.0

132.7 150.6 145.4 105.2 108.8

97.9 100.4 94.8 81.6 83.3

165.4 192.3 177.7 147.2 167.3

57.7 55.8 52.7 55.6 65.1

24.4 25.4 24.1 25.4 30.5

6.9 8.0 8.5 10.0 12.6

0.5 0.7 0.9 1.3 2.2

1985 1986 1987 1988 1989

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

49.8 50.4 50.7 52.4 53.9

44.6 43.3 43.3 45.5 48.1

97.5 86.8 84.3 84.9 86.6

99.3 92.3 89.0 91.6 90.5

121.7 102.3 99.7 105.2 126.0

82.4 87.9 78.2 73.8 76.6

149.1 87.3 85.4 93.7 84.7

71.7 67.4 71.4 66.5 67.9

32.4 33.0 33.5 36.0 38.6

14.1 15.2 16.1 18.0 20.5

2.7 3.1 3.9 4.5 5.5

1990 1991 1992 1993 1994

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

52.8 49.4 52.3 56.8 62.1

48.3 45.7 47.2 51.3 56.0

87.9 78.1 73.4 72.9 74.2

86.9 67.5 62.8 65.3 68.4

142.8 131.5 120.7 94.8 112.2

71.3 84.7 89.8 83.9 76.0

97.9 95.7 79.2 91.3 88.1

72.1 62.6 58.1 62.7 61.3

38.6 37.6 40.4 45.4 50.8

21.5 22.6 26.1 29.6 33.3

5.4 5.9 8.0 10.3 12.8

1995 1996 1997 1998 1999

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

66.1 72.0 78.7 86.7 93.9

61.9 67.7 75.8 84.2 92.0

78.9 83.4 89.4 94.0 93.6

72.5 78.1 86.2 91.2 94.1

132.3 139.1 132.9 137.4 106.5

77.6 66.8 64.4 74.2 87.2

74.7 79.3 93.0 85.8 78.3

68.6 80.7 91.5 96.4 97.2

56.9 63.0 71.6 81.1 91.4

39.1 46.8 57.7 70.3 85.2

19.3 27.8 40.3 58.2 82.5

2000 2001 2002 2003 2004

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

100.0 97.0 92.0 95.3 104.5

100.0 95.8 87.0 88.1 96.3

100.0 97.7 81.0 77.6 79.3

100.0 94.7 79.8 74.7 76.4

100.0 89.7 52.4 48.5 50.9

100.0 103.0 100.6 86.4 76.3

100.0 117.8 90.3 106.0 123.5

100.0 95.3 80.0 76.8 77.2

100.0 95.1 89.3 92.2 103.1

100.0 98.2 93.5 98.3 111.7

100.0 102.4 107.3 120.8 154.1

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

92.4 92.1 91.9 91.6

88.5 87.1 86.7 85.6

86.3 81.9 78.5 77.4

84.7 80.8 78.0 75.8

60.5 54.3 47.9 46.8

114.3 102.2 92.2 93.6

88.3 86.3 93.4 93.3

82.9 82.2 78.0 77.0

89.3 89.1 89.9 88.7

93.0 93.5 95.0 92.7

106.4 104.2 110.0 108.7

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

91.8 93.7 97.0 98.7

85.4 87.1 89.4 90.4

75.8 78.2 78.1 78.4

73.5 74.2 75.5 75.7

45.9 49.6 49.4 49.2

90.0 86.0 82.6 87.1

96.4 108.4 110.3 109.1

74.6 78.9 77.5 76.0

89.1 90.5 93.9 95.1

94.0 95.2 100.3 103.8

111.4 115.7 124.4 131.8

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.3 103.9 106.0 107.9

92.1 95.1 97.8 100.2

77.7 79.4 79.6 80.6

74.6 77.7 77.4 75.7

48.8 47.4 49.2 58.1

83.6 73.2 74.7 73.6

114.1 124.8 123.0 132.0

74.5 77.5 78.7 78.0

97.9 101.4 105.1 108.2

108.0 110.6 112.9 115.4

140.7 148.9 156.6 170.4

. . . = Not available.

98

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-4. Chain-Type Quantity Indexes for Private Fixed Investment by Type—Continued (Index numbers, 2000 = 100.)

Year and quarter

NIPA Table 5.3.3 Nonresidential—Continued

Residential

Equipment and software—Continued

Residential structures

Information processing equipment and software —Continued

Permanent site Industrial equipment

Transportation equipment

Other nonresidential equipment

Total

Residential equipment

Multifamily

Other residential structures

... ... ...

... ... ...

15.4 17.0 14.8

7.3 7.6 7.1

45.3 36.2 34.1 35.2 38.7

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

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

15.9 15.7 17.4 18.1 18.9

9.0 8.3 8.3 8.7 8.9

35.6 32.6 30.5 30.8 38.7

45.7 39.6 36.0 36.9 47.0

... ... ... 34.6 44.0

... ... ... 51.8 66.6

20.9 22.3 22.5 21.9 26.6

10.2 11.3 11.3 12.0 13.8

35.1 35.2 38.6 43.2 45.7

36.0 36.1 39.5 44.2 46.8

41.5 41.3 47.1 53.4 57.0

38.9 36.8 39.3 41.9 46.0

58.6 73.9 107.4 144.2 143.2

27.7 28.3 28.5 30.7 31.8

13.0 13.0 13.8 15.4 16.5

39.7 44.7 42.2 42.7 45.6

44.3 40.4 39.1 44.4 45.7

45.3 41.1 39.8 45.2 46.4

54.5 47.8 45.6 53.6 55.1

45.0 40.0 39.2 43.1 41.0

128.7 107.9 93.7 135.4 168.5

31.7 31.3 31.2 32.8 33.5

18.4 18.8 19.3 23.0 26.2

32.4 35.0 40.7 48.9 44.3

47.6 47.5 53.8 62.8 62.0

43.0 54.8 64.5 64.1 50.9

43.4 55.5 65.4 64.8 51.1

49.9 67.2 81.3 80.9 58.6

35.6 49.4 58.7 57.4 44.1

164.9 209.9 262.8 270.2 174.0

33.9 38.5 42.2 41.3 40.2

28.6 32.0 38.4 43.2 44.0

55.4 55.7 59.0 65.7 70.4

38.2 42.4 51.6 57.0 59.5

57.4 57.9 65.2 71.8 73.2

44.3 54.7 66.4 70.6 68.0

44.3 55.0 67.0 71.2 68.4

44.8 58.9 76.0 79.5 74.4

40.2 56.0 72.0 74.4 65.9

77.6 75.2 99.6 112.2 137.1

43.6 49.3 53.9 59.1 59.7

41.0 43.1 47.2 51.3 56.2

28.0 29.6 29.8 31.3 35.7

67.4 66.3 60.5 55.7 63.8

48.6 47.2 41.8 47.1 56.1

65.8 67.6 58.5 56.3 63.8

53.6 49.3 40.4 57.1 65.6

53.6 49.2 40.0 57.0 65.6

52.3 48.2 37.6 61.4 72.1

43.3 39.4 30.2 52.5 60.9

122.7 118.0 96.2 131.8 161.0

55.7 50.8 43.8 50.8 56.1

56.3 56.2 54.0 60.3 66.8

9.8 11.0 12.5 14.9 19.2

36.8 38.3 36.8 39.3 41.1

66.7 66.4 64.8 68.0 72.8

58.3 56.1 53.3 56.2 50.6

64.4 63.2 65.0 68.1 76.1

66.6 74.8 76.3 75.5 73.2

66.5 74.7 76.2 75.3 73.0

71.2 79.5 80.6 77.7 75.7

60.4 69.1 74.7 73.8 71.7

156.9 161.5 127.4 108.7 108.5

59.8 67.9 69.9 72.0 69.1

72.1 78.0 81.2 83.9 84.4

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

22.6 25.6 30.1 33.7 37.0

42.1 41.9 44.4 47.9 52.3

68.6 64.2 65.3 70.9 77.2

50.4 49.0 49.9 59.1 69.3

73.2 62.5 62.2 68.1 73.6

66.9 60.5 68.8 74.4 81.6

66.6 60.1 68.6 74.3 81.6

68.4 58.9 68.7 73.3 82.1

65.1 57.1 69.3 75.9 84.0

94.6 72.9 62.0 50.0 64.5

64.0 61.8 68.5 75.7 80.9

81.9 78.7 81.1 82.7 83.2

1995 1996 1997 1998 1999

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

40.7 47.7 61.8 73.5 89.2

56.3 61.7 67.0 75.4 83.1

84.7 87.9 89.8 93.0 92.9

75.0 78.0 84.5 90.4 104.3

77.5 80.5 88.3 95.8 96.6

79.0 85.3 86.9 93.6 99.3

78.9 85.3 87.0 93.7 99.3

76.7 83.9 84.3 92.3 99.2

76.3 83.3 83.0 92.1 98.9

80.0 88.5 95.3 94.2 101.7

82.2 87.6 91.0 95.8 99.5

84.3 83.9 83.2 87.6 95.3

2000 2001 2002 2003 2004

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

100.0 98.7 96.3 99.8 107.2

100.0 95.6 84.8 87.5 99.4

100.0 91.5 84.5 84.7 87.6

100.0 88.8 78.3 76.5 86.2

100.0 96.7 93.7 99.6 114.3

100.0 100.4 105.1 114.0 125.7

100.0 100.4 105.2 114.1 125.8

100.0 100.6 104.6 114.9 128.6

100.0 100.1 104.0 115.1 129.9

100.0 104.3 109.8 112.7 117.4

100.0 100.0 106.0 112.8 121.4

100.0 100.4 104.1 109.9 121.1

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

94.4 96.6 98.4 95.8

85.7 85.6 85.1 82.7

85.3 83.4 84.6 84.7

81.1 78.4 77.2 76.8

91.7 94.3 94.2 94.6

102.7 105.1 105.6 107.2

102.7 105.1 105.6 107.3

101.4 104.6 105.7 106.9

100.5 103.9 105.1 106.6

108.9 111.1 110.4 109.0

104.7 105.7 105.5 107.9

103.5 105.0 103.8 104.1

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

96.4 97.1 101.6 104.0

84.1 84.8 89.0 92.0

87.2 85.1 84.5 82.1

72.6 78.5 78.7 76.2

94.9 95.6 102.1 105.8

108.5 111.0 116.6 119.9

108.5 111.0 116.7 119.9

109.2 110.8 116.6 123.0

108.9 110.8 116.7 124.1

111.7 110.5 115.0 113.8

107.6 111.4 116.9 115.2

104.1 108.0 112.2 115.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.3 106.1 107.8 109.5

97.2 99.7 100.6 100.2

85.3 84.4 89.7 90.8

75.8 85.0 88.8 95.3

107.7 111.6 117.6 120.4

121.4 126.4 127.3 127.8

121.4 126.5 127.3 127.8

124.6 128.7 130.5 130.7

125.9 130.2 131.7 131.7

113.6 115.9 119.1 121.1

116.5 123.2 122.5 123.4

117.7 119.3 122.4 125.0

Total

Software 1

Other information processing

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

2.3 2.3 2.1

26.8 24.8 19.1

16.1 16.8 16.7

22.7 27.7 23.3

21.3 25.5 23.6

21.9 26.3 24.3

26.3 32.6 30.8

1950 1951 1952 1953 1954

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

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

2.3 2.5 2.9 3.2 2.9

22.1 24.8 25.7 28.3 29.2

18.5 17.8 14.7 17.4 15.3

24.6 24.8 25.0 24.4 23.0

32.3 27.0 26.6 27.5 29.8

33.3 27.8 27.3 28.2 30.6

1955 1956 1957 1958 1959

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

... ... ... ... 0.0

3.3 3.8 4.3 3.9 4.2

29.0 32.0 32.4 27.0 27.4

19.4 17.5 18.7 13.6 18.0

27.0 27.9 26.3 26.7 28.7

34.6 31.8 29.8 30.2 37.8

1960 1961 1962 1963 1964

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

0.1 0.1 0.1 0.2 0.2

4.9 5.2 5.5 5.7 6.2

29.6 28.0 29.4 31.8 35.9

18.6 17.6 21.7 21.0 23.7

26.3 26.0 27.8 32.3 35.8

1965 1966 1967 1968 1969

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

0.3 0.5 0.6 0.6 0.8

7.1 8.3 8.3 8.6 9.9

42.4 48.7 48.9 47.9 51.1

29.7 32.7 31.6 38.0 39.5

1970 1971 1972 1973 1974

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

1.1 1.1 1.3 1.5 1.8

10.7 10.8 11.5 13.9 15.4

51.9 47.6 51.3 60.7 65.4

1975 1976 1977 1978 1979

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

2.1 2.3 2.4 2.8 3.5

14.8 16.2 19.5 23.2 26.0

1980 1981 1982 1983 1984

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

4.1 4.8 5.5 6.5 8.3

1985 1986 1987 1988 1989

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

1990 1991 1992 1993 1994

1Excludes

software "embedded," or bundled, in computers and other equipment. . . . = Not available.

Total

Single family

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

99

Table 5-5. Current-Cost Net Stock of Fixed Assets (Billions of dollars, year-end estimates.)

Year

Government

Private and government fixed assets

Nonresidential

Nonresidential

Total Total

1947 ........................... 1948 ........................... 1949 ...........................

Private Nonresidential Equipment and software

Structures

Residential

Total

Equipment and software

Structures

Residential

Total

Equipment and software

Structures

Government, by level

Residential

Federal

State and local

709.5 753.6 756.1

495.0 539.0 556.3

65.2 79.1 82.7

162.4 171.9 171.1

267.4 288.0 302.5

214.4 214.6 199.8

62.0 52.2 44.3

146.8 157.4 150.3

5.6 5.0 5.2

709.5 753.6 756.1

127.2 131.3 127.1

309.2 329.3 321.3

273.0 293.0 307.7

121.1 113.0 102.8

93.3 101.6 96.9

1950 1951 1952 1953 1954

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

841.2 924.3 976.9 1 010.5 1 057.9

629.6 687.6 722.8 751.2 782.6

97.0 107.5 112.2 121.0 125.6

193.0 211.4 223.1 228.3 233.6

339.6 368.7 387.4 401.9 423.4

211.5 236.7 254.1 259.3 275.2

40.5 44.3 50.7 57.5 64.1

164.6 184.5 195.9 193.9 200.6

6.4 7.9 7.4 7.9 10.6

841.2 924.3 976.9 1 010.5 1 057.9

137.5 151.7 163.0 178.5 189.7

357.7 395.9 419.1 422.3 434.2

346.0 376.6 394.8 409.7 434.0

102.3 113.9 123.9 130.5 140.7

109.3 122.9 130.2 128.8 134.5

1955 1956 1957 1958 1959

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

1 150.9 1 249.5 1 310.0 1 351.8 1 405.6

854.1 920.4 966.9 990.6 1 034.0

139.2 156.6 169.7 174.6 183.4

258.7 285.5 303.0 306.8 319.3

456.2 478.2 494.2 509.2 531.3

296.9 329.1 343.2 361.3 371.6

69.5 74.1 76.2 77.9 82.4

219.7 246.1 257.5 273.2 278.1

7.6 8.9 9.4 10.2 11.1

1 150.9 1 249.5 1 310.0 1 351.8 1 405.6

208.7 230.7 245.9 252.5 265.8

478.5 531.6 560.5 580.0 597.3

463.8 487.2 503.6 519.4 542.4

147.5 159.8 165.7 171.7 175.9

149.4 169.3 177.4 189.5 195.7

1960 1961 1962 1963 1964

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

1 452.4 1 507.7 1 575.9 1 633.2 1 740.2

1 067.3 1 103.2 1 145.2 1 181.7 1 266.6

189.8 193.1 200.7 209.2 222.1

325.4 337.8 351.1 364.4 387.5

552.2 572.3 593.4 608.0 657.0

385.1 404.4 430.7 451.6 473.7

85.2 89.2 96.5 99.2 102.0

288.1 302.7 320.8 338.7 357.1

11.8 12.6 13.5 13.7 14.6

1 452.4 1 507.7 1 575.9 1 633.2 1 740.2

275.0 282.3 297.2 308.4 324.1

613.5 640.5 671.9 703.1 744.6

564.0 584.9 606.9 621.8 671.6

180.0 187.0 197.9 203.5 209.0

205.1 217.4 232.8 248.1 264.7

1965 1966 1967 1968 1969

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

1 856.8 2 015.0 2 170.5 2 385.4 2 601.8

1 352.8 1 470.0 1 581.9 1 746.5 1 898.6

239.6 266.5 292.5 323.5 358.0

415.5 449.1 483.7 532.8 588.2

697.6 754.4 805.7 890.2 952.3

504.0 544.9 588.6 638.9 703.2

104.6 109.8 116.4 120.9 125.1

384.1 418.7 454.9 498.6 556.5

15.3 16.4 17.3 19.4 21.6

1 856.8 2 015.0 2 170.5 2 385.4 2 601.8

344.3 376.3 408.9 444.4 483.1

799.6 867.8 938.6 1 031.4 1 144.7

712.9 770.8 823.0 909.6 973.9

216.0 226.7 240.9 253.0 267.4

288.0 318.2 347.7 385.9 435.8

1970 1971 1972 1973 1974

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

2 835.2 3 133.7 3 449.4 3 914.9 4 665.8

2 052.8 2 286.2 2 526.0 2 876.1 3 389.2

393.9 422.5 455.6 511.4 634.9

650.8 730.5 803.0 912.3 1 101.5

1 008.2 1 133.2 1 267.4 1 452.3 1 652.7

782.4 847.5 923.4 1 038.8 1 276.6

131.1 132.2 134.0 136.2 149.7

628.2 689.5 760.4 869.9 1 090.3

23.1 25.9 29.0 32.8 36.6

2 835.2 3 133.7 3 449.4 3 914.9 4 665.8

525.0 554.6 589.6 647.6 784.6

1 279.0 1 419.9 1 563.4 1 782.2 2 191.8

1 031.2 1 159.1 1 296.4 1 485.0 1 689.4

285.3 299.5 322.5 349.5 403.3

497.1 548.0 600.9 689.3 873.3

1975 1976 1977 1978 1979

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

5 047.9 5 504.7 6 171.0 6 988.9 8 064.5

3 706.8 4 086.6 4 663.8 5 340.9 6 187.5

726.2 804.3 906.9 1 034.8 1 202.0

1 188.7 1 293.5 1 435.7 1 629.1 1 877.2

1 791.8 1 988.9 2 321.2 2 677.0 3 108.2

1 341.1 1 418.1 1 507.1 1 648.0 1 877.0

164.4 178.7 195.0 207.8 225.2

1 136.6 1 194.6 1 260.6 1 380.7 1 581.0

40.1 44.8 51.5 59.6 70.9

5 047.9 5 504.7 6 171.0 6 988.9 8 064.5

890.6 983.1 1 101.9 1 242.6 1 427.2

2 325.4 2 488.1 2 696.3 3 009.7 3 458.2

1 832.0 2 033.6 2 372.7 2 736.5 3 179.1

426.6 462.8 485.7 524.0 583.9

914.5 955.3 1 021.4 1 124.0 1 293.1

1980 1981 1982 1983 1984

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

9 198.0 10 142.0 10 697.0 11 046.5 11 646.7

7 049.0 7 781.3 8 205.7 8 495.6 8 996.4

1 395.9 1 553.2 1 644.0 1 700.7 1 797.3

2 148.5 2 458.5 2 621.1 2 695.2 2 868.0

3 504.6 3 769.7 3 940.6 4 099.7 4 331.1

2 148.9 2 360.7 2 491.3 2 550.9 2 650.3

251.5 282.9 307.5 337.9 360.9

1 819.7 1 992.6 2 093.4 2 112.2 2 184.7

77.8 85.2 90.3 100.8 104.6

9 198.0 10 142.0 10 697.0 11 046.5 11 646.7

1 647.4 1 836.1 1 951.5 2 038.6 2 158.2

3 968.2 4 451.1 4 714.6 4 807.4 5 052.8

3 582.3 3 854.9 4 030.9 4 200.5 4 435.7

648.0 697.1 735.5 772.4 810.6

1 501.0 1 663.6 1 755.8 1 778.5 1 839.7

1985 ........................... 12 277.5 1986 ........................... 13 077.6 1987 ........................... 13 842.8

9 511.0 10 141.4 10 750.2

1 914.3 2 042.3 2 151.8

3 032.0 3 169.2 3 349.8

4 564.7 4 929.9 5 248.5

2 766.5 2 936.2 3 092.6

383.7 411.5 437.2

2 277.0 2 414.9 2 535.8

105.8 109.7 119.6

12 277.5 13 077.6 13 842.8

2 297.9 2 453.8 2 589.1

5 309.0 5 584.1 5 885.6

4 670.6 5 039.6 5 368.2

842.4 885.2 921.5

1 924.1 2 051.0 2 171.1

19871 ......................... 13 803.5 19881 ......................... 14 642.9 19891 ......................... 15 480.2

10 710.8 11 391.6 12 051.7

2 071.2 2 198.7 2 335.2

3 391.1 3 618.5 3 832.9

5 248.5 5 574.3 5 883.6

3 092.6 3 251.3 3 428.5

437.2 471.1 508.3

2 535.8 2 645.0 2 775.8

119.6 135.2 144.4

13 803.5 14 642.9 15 480.2

2 508.4 2 669.9 2 843.4

5 926.9 6 263.5 6 608.7

5 368.2 5 709.5 6 028.0

921.5 977.3 1 031.2

2 171.1 2 274.0 2 397.4

19901 19911 19921 19931 19941

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

16 211.5 16 602.8 17 323.9 18 231.0 19 352.0

12 610.9 12 880.7 13 438.8 14 166.8 15 056.7

2 469.1 2 541.1 2 613.9 2 728.2 2 880.6

4 030.8 4 091.4 4 224.9 4 433.7 4 670.7

6 111.0 6 248.3 6 599.9 7 004.9 7 505.4

3 600.7 3 722.1 3 885.1 4 064.3 4 295.2

551.1 583.9 613.3 637.0 665.8

2 900.4 2 988.0 3 112.8 3 257.0 3 447.7

149.2 150.2 159.0 170.3 181.7

16 211.5 16 602.8 17 323.9 18 231.0 19 352.0

3 020.2 3 125.0 3 227.2 3 365.2 3 546.4

6 931.1 7 079.4 7 337.8 7 690.7 8 118.4

6 260.2 6 398.5 6 758.9 7 175.1 7 687.1

1 078.9 1 122.5 1 169.4 1 209.0 1 260.7

2 521.8 2 599.6 2 715.7 2 855.2 3 034.5

19951 19961 19971 19981 19991

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

20 298.9 21 299.9 22 450.5 23 721.6 25 246.1

15 794.3 16 618.1 17 549.3 18 620.5 19 847.2

3 067.4 3 233.1 3 394.6 3 583.8 3 822.1

4 887.1 5 114.3 5 424.1 5 736.6 6 038.4

7 839.8 8 270.6 8 730.6 9 300.1 9 986.7

4 504.7 4 681.8 4 901.2 5 101.1 5 398.9

674.8 674.8 671.4 677.1 698.2

3 641.7 3 810.5 4 032.9 4 217.1 4 480.7

188.2 196.5 196.8 206.9 219.9

20 298.9 21 299.9 22 450.5 23 721.6 25 246.1

3 742.1 3 907.9 4 066.1 4 260.9 4 520.3

8 528.8 8 924.9 9 457.0 9 953.7 10 519.1

8 028.0 8 467.1 8 927.5 9 507.0 10 206.7

1 291.3 1 315.5 1 334.7 1 355.8 1 398.9

3 213.4 3 366.3 3 566.5 3 745.3 4 000.0

20001 20011 20021 20031 20041

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

26 902.2 28 464.7 29 788.3 31 290.0 34 032.2

21 189.5 22 484.8 23 522.7 24 762.8 27 042.8

4 077.3 4 203.2 4 270.8 4 391.3 4 616.2

6 436.5 6 816.8 7 058.8 7 283.4 7 953.2

10 675.7 11 464.8 12 193.1 13 088.1 14 473.3

5 712.7 5 979.9 6 265.6 6 527.3 6 989.5

703.0 711.3 723.2 739.3 790.5

4 778.0 5 021.9 5 278.8 5 505.0 5 899.3

231.7 246.7 263.6 282.9 299.7

26 902.2 28 464.7 29 788.3 31 290.0 34 032.2

4 780.3 4 914.5 4 994.0 5 130.7 5 406.7

11 214.5 11 838.7 12 337.6 12 788.4 13 852.5

10 907.4 11 711.5 12 456.7 13 371.0 14 773.0

1 424.6 1 446.8 1 469.9 1 499.7 1 594.8

4 288.1 4 533.1 4 795.7 5 027.6 5 394.7

1Revised

2005, not continuous with previous years.

100

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-6. Chain-Type Quantity Indexes for Net Stock of Fixed Assets (Index numbers, 2000 = 100.)

Year

Private

Government

Private and government fixed assets

Nonresidential

Nonresidential

Nonresidential

Total Total

Equipment and software

Structures

Residential

Total

Equipment and software

Structures

Residential

Total

Equipment and software

Structures

Government, by level

Residential

Federal

State and local

1947 ........................... 1948 ........................... 1949 ...........................

19.90 20.21 20.63

17.23 18.02 18.67

8.18 9.04 9.57

21.57 22.13 22.65

19.72 20.58 21.35

30.41 28.75 28.20

50.31 39.61 34.02

26.11 26.36 26.89

16.38 16.68 17.69

19.90 20.21 20.63

13.89 13.21 12.93

23.52 23.96 24.48

19.85 20.71 21.47

67.76 60.14 56.26

17.25 17.59 18.16

1950 1951 1952 1953 1954

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

21.26 22.09 22.96 23.90 24.79

19.55 20.32 21.02 21.80 22.57

10.20 10.80 11.28 11.89 12.28

23.28 23.98 24.63 25.38 26.18

22.48 23.35 24.19 25.06 26.01

27.75 28.84 30.36 31.96 33.33

28.55 30.49 34.06 37.84 39.80

27.56 28.42 29.44 30.52 31.77

18.59 19.98 21.55 22.96 23.60

21.26 22.09 22.96 23.90 24.79

12.77 13.55 14.45 15.48 16.09

25.13 25.89 26.70 27.60 28.58

22.58 23.45 24.29 25.15 26.09

52.49 54.62 58.42 62.30 64.62

18.86 19.57 20.29 21.10 22.13

1955 1956 1957 1958 1959

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

25.77 26.72 27.64 28.46 29.49

23.50 24.40 25.26 25.95 26.84

12.85 13.42 14.00 14.20 14.58

27.07 28.11 29.11 29.98 30.85

27.15 28.15 29.04 29.93 31.14

34.48 35.61 36.76 38.10 39.66

40.62 41.37 41.86 42.56 44.36

33.03 34.27 35.56 37.01 38.45

24.11 24.76 25.94 28.03 30.38

25.77 26.72 27.64 28.46 29.49

16.69 17.29 17.87 18.13 18.71

29.62 30.75 31.88 32.99 34.10

27.22 28.21 29.11 30.01 31.24

65.80 66.87 67.73 68.97 71.02

23.26 24.40 25.63 27.01 28.40

1960 1961 1962 1963 1964

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

30.49 31.50 32.65 33.86 35.22

27.73 28.58 29.58 30.68 31.94

15.02 15.37 15.92 16.57 17.45

31.86 32.88 33.97 35.04 36.29

32.20 33.25 34.43 35.78 37.22

41.07 42.74 44.49 46.15 47.83

45.53 47.39 49.61 50.98 52.13

39.89 41.47 43.04 44.78 46.60

32.12 34.22 36.59 37.81 39.13

30.49 31.50 32.65 33.86 35.22

19.25 19.80 20.58 21.33 22.25

35.29 36.55 37.84 39.19 40.69

32.31 33.37 34.55 35.90 37.34

72.52 74.65 76.97 78.53 79.79

29.78 31.28 32.82 34.52 36.36

1965 1966 1967 1968 1969

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

36.69 38.23 39.69 41.20 42.72

33.37 34.82 36.15 37.59 39.12

18.71 20.26 21.61 23.04 24.62

37.86 39.53 41.10 42.68 44.36

38.58 39.73 40.82 42.10 43.42

49.50 51.36 53.30 55.04 56.52

52.65 53.71 55.11 55.30 54.95

48.54 50.60 52.66 54.76 56.63

40.54 42.05 43.76 45.44 47.56

36.69 38.23 39.69 41.20 42.72

23.42 24.92 26.28 27.55 28.88

42.42 44.25 46.03 47.83 49.60

38.69 39.84 40.92 42.20 43.51

80.58 81.74 82.85 82.96 82.58

38.33 40.44 42.67 44.99 47.12

1970 1971 1972 1973 1974

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

44.06 45.44 47.04 48.80 50.29

40.49 42.00 43.79 45.78 47.41

25.91 27.04 28.57 30.76 32.76

46.00 47.55 49.15 50.90 52.50

44.60 46.25 48.26 50.23 51.60

57.76 58.66 59.53 60.46 61.52

54.35 52.16 50.40 49.06 48.77

58.23 59.76 61.15 62.50 63.79

49.73 51.83 53.58 55.25 56.83

44.06 45.44 47.04 48.80 50.29

29.92 30.58 31.66 33.34 35.02

51.22 52.76 54.26 55.84 57.29

44.69 46.34 48.35 50.32 51.70

81.95 80.39 79.14 78.21 77.84

49.00 50.74 52.35 53.93 55.46

1975 1976 1977 1978 1979

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

51.43 52.75 54.35 56.24 58.22

48.58 49.98 51.76 53.86 56.03

33.96 35.26 37.12 39.51 42.10

53.77 55.02 56.34 58.05 60.11

52.68 54.17 56.14 58.25 60.22

62.58 63.64 64.56 65.64 66.86

48.76 49.10 49.37 49.69 50.70

65.02 66.19 67.21 68.44 69.70

58.72 60.20 61.60 62.76 63.89

51.43 52.75 54.35 56.24 58.22

36.05 37.22 38.87 40.98 43.35

58.54 59.75 60.95 62.45 64.18

52.78 54.28 56.25 58.36 60.32

77.68 77.76 77.87 78.06 78.50

56.93 58.32 59.53 60.93 62.43

1980 1981 1982 1983 1984

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

59.85 61.44 62.66 64.07 65.99

57.77 59.47 60.76 62.24 64.29

43.94 45.76 46.81 47.98 50.17

62.35 64.85 67.20 68.99 71.31

61.56 62.67 63.40 64.83 66.60

68.11 69.21 70.21 71.34 72.77

51.92 53.32 55.11 57.86 61.47

70.93 71.95 72.76 73.53 74.50

65.32 67.01 68.58 70.46 72.06

59.85 61.44 62.66 64.07 65.99

45.11 46.88 48.04 49.43 51.82

65.99 67.86 69.56 70.92 72.67

61.66 62.77 63.51 64.94 66.72

79.11 80.01 81.08 82.69 84.70

63.90 65.07 66.03 66.99 68.22

1985 ........................... 1986 ........................... 1987 ...........................

68.07 70.16 72.19

66.45 68.59 70.64

52.34 54.48 56.28

74.00 76.08 78.11

68.40 70.52 72.69

74.54 76.48 78.45

66.21 71.37 76.59

75.66 76.97 78.34

74.03 76.12 78.31

68.07 70.16 72.19

54.35 56.91 59.16

74.71 76.46 78.20

68.51 70.64 72.82

87.32 90.20 93.23

69.67 71.27 72.87

19871 ......................... 19881 ......................... 19891 .........................

72.64 74.56 76.44

71.18 73.13 75.04

56.77 58.50 60.40

79.20 81.07 82.87

72.72 74.81 76.75

78.13 79.90 81.70

76.59 80.59 84.95

78.40 79.77 81.12

78.25 80.19 81.89

72.64 74.56 76.44

59.64 61.68 63.92

78.85 80.52 82.12

72.87 74.95 76.89

93.45 95.43 97.24

72.87 74.57 76.36

19901 19911 19921 19931 19941

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

78.22 79.60 81.05 82.72 84.54

76.77 78.03 79.39 81.12 83.08

61.91 62.87 64.08 66.22 69.09

84.85 86.21 87.16 88.23 89.15

78.41 79.76 81.41 83.32 85.44

83.67 85.52 87.28 88.74 90.03

89.40 92.68 95.38 96.57 96.91

82.66 84.27 85.86 87.36 88.83

83.79 85.42 87.21 88.73 89.98

78.22 79.60 81.05 82.72 84.54

65.84 67.11 68.53 70.55 73.06

83.92 85.38 86.60 87.86 89.01

78.55 79.91 81.57 83.46 85.57

99.10 100.45 101.57 101.92 101.70

78.37 80.38 82.36 84.21 86.04

19951 19961 19971 19981 19991

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

86.57 88.88 91.35 94.08 96.99

85.27 87.76 90.47 93.50 96.69

72.66 76.72 81.60 87.20 93.46

90.48 92.08 93.89 95.88 97.80

87.47 89.75 92.04 94.58 97.29

91.45 93.11 94.63 96.24 98.08

97.11 97.40 97.23 97.75 98.94

90.46 92.35 94.17 95.95 97.92

91.48 93.04 95.82 97.32 98.81

86.57 88.88 91.35 94.08 96.99

76.16 79.70 83.86 88.74 94.27

90.47 92.19 94.01 95.91 97.85

87.59 89.85 92.12 94.64 97.32

101.56 102.02 101.35 100.84 100.54

88.01 90.08 92.36 94.68 97.26

20001 20011 20021 20031 20041

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

100.00 102.54 104.76 107.11 109.85

100.00 102.67 104.89 107.28 110.13

100.00 103.88 106.00 108.25 112.21

100.00 101.91 103.14 104.23 105.28

100.00 102.68 105.53 108.73 112.27

100.00 102.03 104.27 106.49 108.77

100.00 101.17 102.92 104.72 107.70

100.00 102.18 104.52 106.86 109.10

100.00 101.43 102.99 104.25 105.38

100.00 102.54 104.76 107.11 109.85

100.00 103.48 105.55 107.74 111.56

100.00 102.03 103.73 105.34 106.90

100.00 102.66 105.48 108.64 112.12

100.00 99.46 99.36 99.43 99.94

100.00 102.88 105.89 108.81 111.67

1Revised

2005, not continuous with previous years.

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

101

Table 5-7. Inventories to Sales Ratios (Seasonally adjusted, ratio of inventories at end of quarter to monthly rate of sales during the quarter, annual data are for fourth quarter.) NIPA Tables 5.7.5A, 5.7.5B, 5.7.6A, 5.7.6B Total private inventories to final sales of domestic business

Nonfarm inventories to:

Year and quarter

Final sales of domestic business Current dollars

Chained (2000) dollars

Current dollars

Final sales of goods and structures

Chained (2000) dollars

Current dollars

Chained (2000) dollars

1947 ........................................................... 1948 ........................................................... 1949 ...........................................................

6.16 5.62 5.12

3.60 3.77 3.60

2.77 2.96 2.73

2.19 2.30 2.17

3.38 3.63 3.36

3.34 3.51 3.30

1950 1951 1952 1953 1954

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

5.70 5.76 5.16 4.96 4.67

3.53 3.62 3.61 3.61 3.40

3.00 3.11 3.02 3.04 2.85

2.24 2.40 2.39 2.39 2.23

3.68 3.78 3.69 3.75 3.54

3.39 3.61 3.59 3.59 3.35

1955 1956 1957 1958 1959

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

4.36 4.41 4.39 4.44 4.20

3.33 3.33 3.36 3.33 3.26

2.91 2.99 2.98 2.87 2.87

2.24 2.30 2.32 2.25 2.27

3.61 3.74 3.74 3.62 3.67

3.36 3.48 3.52 3.42 3.48

1960 1961 1962 1963 1964

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

4.17 4.07 4.09 3.91 3.75

3.27 3.20 3.21 3.15 3.07

2.86 2.78 2.79 2.75 2.73

2.29 2.24 2.29 2.27 2.26

3.67 3.58 3.60 3.56 3.54

3.51 3.45 3.51 3.49 3.49

1965 1966 1967 1968 1969

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

3.73 3.88 3.87 3.76 3.85

2.99 3.16 3.25 3.23 3.30

2.70 2.89 2.96 2.87 2.95

2.24 2.44 2.54 2.53 2.62

3.47 3.74 3.86 3.76 3.89

3.42 3.75 3.92 3.91 4.08

1970 1971 1972 1973 1974

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

3.78 3.73 3.72 4.18 4.49

3.29 3.24 3.09 3.13 3.37

2.94 2.86 2.75 2.96 3.52

2.63 2.59 2.50 2.57 2.82

3.92 3.83 3.66 3.91 4.73

4.13 4.07 3.90 4.01 4.50

1975 1976 1977 1978 1979

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

4.02 3.93 3.86 3.95 4.17

3.17 3.14 3.13 3.06 3.08

3.14 3.17 3.14 3.12 3.33

2.62 2.63 2.62 2.58 2.60

4.24 4.32 4.29 4.20 4.47

4.17 4.21 4.18 4.06 4.08

1980 1981 1982 1983 1984

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

4.23 4.15 3.95 3.68 3.70

3.05 3.20 3.15 2.91 2.98

3.42 3.47 3.28 3.07 3.14

2.60 2.71 2.64 2.49 2.56

4.69 4.80 4.67 4.39 4.50

4.13 4.31 4.26 3.98 4.07

1985 1986 1987 1988 1989

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

3.49 3.23 3.31 3.27 3.22

2.92 2.84 2.84 2.75 2.75

2.99 2.80 2.88 2.84 2.82

2.50 2.44 2.47 2.43 2.44

4.36 4.12 4.25 4.22 4.22

4.03 3.92 3.99 3.92 3.94

1990 1991 1992 1993 1994

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

3.21 3.04 2.90 2.83 2.87

2.77 2.77 2.67 2.63 2.67

2.81 2.69 2.55 2.50 2.54

2.46 2.46 2.36 2.35 2.38

4.27 4.17 3.99 3.92 3.99

4.02 4.07 3.90 3.86 3.88

1995 1996 1997 1998 1999

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

2.86 2.74 2.68 2.56 2.59

2.63 2.56 2.60 2.59 2.60

2.56 2.45 2.41 2.33 2.37

2.38 2.30 2.34 2.35 2.37

4.05 3.87 3.82 3.67 3.76

3.88 3.74 3.78 3.75 3.79

2000 2001 2002 2003 2004

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

2.63 2.44 2.51 2.46 2.51

2.62 2.55 2.58 2.48 2.47

2.41 2.23 2.28 2.22 2.29

2.40 2.33 2.37 2.28 2.27

3.85 3.57 3.73 3.61 3.72

3.86 3.74 3.85 3.66 3.61

2002 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.45 2.45 2.48 2.51

2.56 2.55 2.56 2.58

2.24 2.25 2.26 2.28

2.34 2.34 2.35 2.37

3.61 3.64 3.68 3.73

3.77 3.78 3.79 3.85

2003 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.53 2.49 2.45 2.46

2.57 2.54 2.49 2.48

2.31 2.27 2.21 2.22

2.36 2.33 2.28 2.28

3.77 3.70 3.59 3.61

3.83 3.78 3.65 3.66

2004 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.47 2.50 2.51 2.51

2.47 2.48 2.47 2.47

2.23 2.25 2.28 2.29

2.28 2.28 2.27 2.27

3.64 3.66 3.69 3.72

3.65 3.65 3.61 3.61

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 5-3. Private Nonfarm Inventory/Sales Ratios, 1947–2004 (ratio of current-dollar inventories at end of year to monthly rate of final sales in the fourth quarter) 5

4

Ratio

102

3

2 Inventories to final sales of goods and structures 1 Inventories to final sales of domestic business 0 1947

1952

1957

1962

1967

1972

1977

1982

1987

1992

1997 2002 2004

Year

• Inventories play a key role in the business cycle, and ratios of inventories to sales (I/S ratios) are important cyclical indicators. During business expansions, if production and sales are rising at sustainable rates, inventory-building proceeds in line with sales increases and ratios of inventories to sales are stable; they may even decline if sales run ahead of production and expectations. On the other hand, if production gets ahead of sales, or sales take an unexpected dip, there can be “involuntary” inventory accumulation. In that case, I/S ratios would rise and production would have to be cut back. In the graph above, this can be seen most strikingly in the high ratios associated with the severe 1974–1975 and 1981–1982 recessions. By contrast, the 2001 recession was preceded by a very modest increase in I/S ratios. (Table 5-7) • In addition to these cyclical movements, the broadest ratios of inventories to monthly business sales rates for total GDP show a downtrend over the postwar period. The lower line on the graph shows an example of such a broad ratio. The downtrend is summarized in the decline between the earliest and latest pre-recession ratios, which occurred in 1947 and 1999, respectively. (Table 5-7) • However, this decline may simply reflect the shift in the composition of GDP toward services, which require relatively less inventory support. When nonfarm inventories are compared with final sales of goods and structures only, as in the higher line on the graph, 1999 ratios are actually higher than those of 1947, whether measured in current or 2000 dollars. This seems to suggest that inventory efficiencies achieved by individual firms may not have translated into inventory efficiency for the economy as a whole. (Table 5-7) • Interrupting the general downtrend in both ratios is a period of increase extending from about 1966 through the early 1980s. This coincides with a period of high and rising inflation, which may have given firms incentives to hold inventory in excess of production needs as a hedge against—or a speculation on—price increases. (Table 5-7 and Chapter 8)

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

103

Table 5-8. Manufacturing and Trade Sales and Inventories Sales, billions of dollars Classification basis, Not year and month seasonally adjusted, total

SIC Basis 1973 .................... 1974 ....................

Inventories, billions of dollars, end of period, seasonally adjusted

Ratios, inventories to monthly sales, seasonally adjusted

Seasonally adjusted Total

Manufacturing

Retail trade

Merchant wholesalers

Total

Manufacturing

Merchant Retail trade wholesalers

Total

Manufacturing

Merchant Retail trade wholesalers

1 844.1 2 134.9

1 844.1 2 134.9

875.2 1 017.5

511.6 541.7

457.4 575.8

... ...

... ...

... ...

... ...

... ...

... ...

... ...

... ...

1975 1976 1977 1978 1979

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

2 186.4 2 449.8 2 754.2 3 123.8 3 572.4

2 186.4 2 449.8 2 754.2 3 123.8 3 572.4

1 039.1 1 185.6 1 358.4 1 522.9 1 727.2

587.7 655.9 722.1 804.0 896.6

559.6 608.4 673.6 797.0 948.6

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

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

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

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

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

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

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

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

1980 1981 1982 1983 1984

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

3 926.8 4 269.9 4 171.5 4 431.4 4 921.5

3 926.8 4 269.9 4 171.5 4 431.4 4 921.5

1 852.7 2 017.5 1 960.2 2 070.6 2 288.2

956.9 1 038.2 1 068.7 1 170.2 1 286.9

1 117.2 1 214.2 1 142.5 1 190.7 1 346.4

... ... 573.9 590.3 649.8

... ... 311.9 312.4 339.5

121.1 132.7 134.6 147.8 167.8

122.6 129.7 127.4 130.1 142.5

... ... 1.67 1.56 1.53

... ... 1.95 1.78 1.73

... 1.48 1.49 1.44 1.49

... 1.25 1.36 1.28 1.23

1985 1986 1987 1988 1989

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

5 071.0 5 165.0 5 492.8 5 965.9 6 324.5

5 071.0 5 165.0 5 492.8 5 965.9 6 324.5

2 334.5 2 335.9 2 475.9 2 695.4 2 840.4

1 375.0 1 449.6 1 541.3 1 656.2 1 759.0

1 361.5 1 379.5 1 475.6 1 614.2 1 725.1

664.0 662.7 709.8 767.2 815.5

334.7 322.7 338.1 369.4 391.2

181.9 186.5 207.8 219.0 237.2

147.4 153.6 163.9 178.8 187.0

1.55 1.55 1.50 1.49 1.52

1.73 1.68 1.59 1.57 1.63

1.52 1.56 1.55 1.54 1.58

1.28 1.32 1.29 1.30 1.28

1990 .................... 1991 .................... 1992 ....................

6 550.9 6 513.8 6 806.1

6 550.9 6 513.8 6 806.1

2 912.2 2 878.2 3 004.7

1 844.6 1 855.9 1 951.6

1 794.1 1 779.7 1 849.8

840.7 834.7 842.9

405.1 391.0 382.5

239.8 243.4 252.2

195.8 200.4 208.2

1.52 1.53 1.48

1.65 1.65 1.54

1.56 1.54 1.52

1.29 1.33 1.32

NAICS Basis 1992 .................... 1993 .................... 1994 ....................

6 492.2 6 815.4 7 326.1

6 492.2 6 815.4 7 326.1

2 904.0 3 020.5 3 238.1

1 804.5 1 930.1 2 096.2

1 783.7 1 864.9 1 991.8

836.6 863.5 926.6

378.7 379.7 399.9

258.9 277.0 302.7

198.9 206.8 224.0

1.52 1.50 1.47

1.57 1.51 1.45

1.67 1.69 1.67

1.31 1.31 1.29

1995 1996 1997 1998 1999

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

7 863.6 8 250.7 8 688.1 8 914.0 9 439.2

7 863.6 8 250.7 8 688.1 8 914.0 9 439.2

3 479.7 3 597.2 3 834.7 3 899.8 4 031.9

2 207.5 2 350.3 2 456.0 2 572.3 2 797.9

2 176.4 2 303.2 2 397.5 2 441.9 2 609.4

985.4 1 004.7 1 045.8 1 078.4 1 138.6

424.9 430.6 443.7 449.2 463.7

320.0 330.9 341.4 355.3 383.6

240.5 243.2 260.7 273.9 291.3

1.48 1.45 1.42 1.44 1.41

1.44 1.43 1.37 1.39 1.35

1.73 1.67 1.65 1.63 1.60

1.30 1.27 1.26 1.32 1.30

2000 2001 2002 2003 2004

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

10 012.2 9 876.0 9 886.4 10 201.7 11 233.6

10 012.2 9 876.0 9 886.4 10 201.7 11 233.6

4 208.6 4 022.9 3 920.6 3 979.8 4 373.6

2 983.0 3 069.8 3 141.5 3 275.4 3 521.7

2 820.6 2 783.3 2 824.4 2 946.5 3 338.4

1 197.8 1 140.0 1 142.5 1 160.1 1 250.0

481.7 447.6 423.3 418.5 450.6

406.3 395.3 418.6 435.0 459.7

309.8 297.2 300.7 306.6 339.6

1.41 1.43 1.38 1.36 1.30

1.36 1.40 1.31 1.28 1.20

1.60 1.59 1.56 1.58 1.54

1.30 1.33 1.26 1.23 1.16

2001 January ............... February ............. March .................. April .................... May ..................... June ....................

771.4 777.0 864.8 806.4 864.6 853.7

837.0 839.1 827.9 823.0 834.9 820.4

344.9 348.7 342.7 335.0 344.9 335.4

253.1 252.8 251.0 255.1 255.8 255.3

239.0 237.6 234.2 232.8 234.2 229.8

1 201.7 1 195.6 1 192.2 1 193.0 1 192.4 1 184.6

485.2 481.4 478.2 477.4 474.9 470.4

407.0 404.9 404.6 404.9 405.9 404.9

309.5 309.3 309.4 310.7 311.7 309.3

1.44 1.42 1.44 1.45 1.43 1.44

1.41 1.38 1.40 1.42 1.38 1.40

1.61 1.60 1.61 1.59 1.59 1.59

1.29 1.30 1.32 1.33 1.33 1.35

July ..................... August ................ September .......... October ............... November ........... December ...........

783.7 856.5 800.9 847.3 812.1 837.5

818.7 823.6 807.8 822.5 813.0 810.6

333.7 336.8 325.4 326.1 324.7 326.4

253.8 255.2 250.8 269.2 260.4 257.2

231.2 231.6 231.6 227.3 227.9 227.1

1 178.6 1 179.1 1 173.8 1 157.1 1 145.8 1 140.0

466.4 463.1 459.7 456.4 452.0 447.6

405.8 409.8 409.1 397.5 394.3 395.3

306.4 306.1 305.0 303.2 299.6 297.2

1.44 1.43 1.45 1.41 1.41 1.41

1.40 1.38 1.41 1.40 1.39 1.37

1.60 1.61 1.63 1.48 1.51 1.54

1.33 1.32 1.32 1.33 1.31 1.31

2002 January ............... February ............. March .................. April .................... May ..................... June ....................

749.0 749.3 832.3 822.3 855.9 839.0

811.0 811.6 812.8 823.3 823.3 825.6

325.2 323.3 325.0 327.1 330.9 327.8

257.4 258.5 258.4 262.9 258.2 261.9

228.4 229.8 229.4 233.3 234.1 235.8

1 136.8 1 129.0 1 123.2 1 120.2 1 122.8 1 123.7

442.8 435.7 431.1 429.1 426.6 425.6

397.7 399.8 398.4 398.8 403.4 404.1

296.3 293.5 293.7 292.4 292.8 294.0

1.40 1.39 1.38 1.36 1.36 1.36

1.36 1.35 1.33 1.31 1.29 1.30

1.54 1.55 1.54 1.52 1.56 1.54

1.30 1.28 1.28 1.25 1.25 1.25

July ..................... August ................ September .......... October ............... November ........... December ...........

809.3 860.5 829.1 857.9 820.5 861.3

827.4 835.6 829.6 830.8 831.7 827.0

326.9 329.8 329.3 329.4 326.6 322.4

264.2 266.2 261.3 263.0 264.0 265.9

236.3 239.6 239.0 238.4 241.1 238.7

1 128.6 1 129.2 1 135.6 1 135.9 1 136.9 1 142.5

424.5 424.1 424.3 423.4 421.7 423.3

407.9 407.7 412.8 414.8 417.1 418.6

296.2 297.3 298.5 297.7 298.1 300.7

1.36 1.35 1.37 1.37 1.37 1.38

1.30 1.29 1.29 1.29 1.29 1.31

1.54 1.53 1.58 1.58 1.58 1.57

1.25 1.24 1.25 1.25 1.24 1.26

2003 January ............... February ............. March .................. April .................... May ..................... June ....................

777.7 769.5 861.3 829.0 853.3 863.7

835.9 833.7 841.9 830.1 830.2 842.1

326.1 328.1 329.2 322.4 324.3 327.7

268.0 263.6 268.8 268.8 267.5 272.3

241.8 241.9 243.8 238.9 238.4 242.1

1 143.4 1 152.6 1 154.6 1 155.9 1 151.8 1 149.5

422.7 427.0 425.6 425.5 425.1 422.8

420.7 424.6 426.7 427.6 425.6 426.1

299.9 301.0 302.3 302.8 301.1 300.5

1.37 1.38 1.37 1.39 1.39 1.36

1.30 1.30 1.29 1.32 1.31 1.29

1.57 1.61 1.59 1.59 1.59 1.57

1.24 1.24 1.24 1.27 1.26 1.24

July ..................... August ................ September .......... October ............... November ........... December ...........

837.8 863.3 874.2 898.6 842.2 931.2

854.5 853.6 861.3 867.5 871.3 879.5

335.5 329.7 337.1 339.6 338.1 343.9

274.7 279.1 276.9 275.9 279.6 279.0

244.3 244.8 247.3 252.0 253.6 256.6

1 148.1 1 142.5 1 147.6 1 153.1 1 156.9 1 160.1

420.8 419.9 418.3 419.0 418.6 418.5

426.8 422.5 427.7 430.2 433.7 435.0

300.4 300.0 301.6 303.9 304.6 306.6

1.34 1.34 1.33 1.33 1.33 1.32

1.25 1.27 1.24 1.23 1.24 1.22

1.55 1.51 1.54 1.56 1.55 1.56

1.23 1.23 1.22 1.21 1.20 1.19

2004 January ............... February ............. March .................. April .................... May ..................... June ....................

811.2 836.0 969.9 922.2 932.5 969.5

882.1 889.0 919.9 917.7 928.0 927.9

342.7 342.3 358.3 357.8 359.4 363.5

281.3 283.2 289.7 286.1 293.2 288.6

258.0 263.5 271.9 273.8 275.4 275.9

1 160.6 1 169.5 1 178.6 1 186.2 1 194.4 1 206.9

419.0 421.1 423.2 425.1 429.2 433.1

435.3 437.8 442.7 448.2 448.2 453.4

306.4 310.6 312.8 313.0 317.0 320.4

1.32 1.32 1.28 1.29 1.29 1.30

1.22 1.23 1.18 1.19 1.19 1.19

1.55 1.55 1.53 1.57 1.53 1.57

1.19 1.18 1.15 1.14 1.15 1.16

July ..................... August ................ September .......... October ............... November ........... December ...........

911.0 963.9 963.9 963.5 957.8 1 032.2

935.2 945.8 948.7 959.5 964.4 975.7

365.2 372.0 368.5 373.3 375.7 380.5

292.3 292.7 297.7 299.9 300.0 303.7

277.7 281.1 282.5 286.3 288.7 291.5

1 219.2 1 230.2 1 228.3 1 233.7 1 247.5 1 250.0

437.5 440.5 441.2 445.4 450.1 450.6

456.4 460.6 456.7 453.9 458.8 459.7

325.4 329.0 330.5 334.5 338.5 339.6

1.30 1.30 1.29 1.29 1.29 1.28

1.20 1.18 1.20 1.19 1.20 1.18

1.56 1.57 1.53 1.51 1.53 1.51

1.17 1.17 1.17 1.17 1.17 1.17

. . . = Not available.

104

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-9. Real Manufacturing and Trade Sales and Inventories (Billions of chained [1996 or 2000] dollars, ratios; seasonally adjusted; annual figures are averages of seasonally adjusted monthly data.) Sales, monthly average Classification basis, year and month

SIC Basis (1996 dollars) 1973 .......................................... 1974 ..........................................

Inventories, end of period

Manufacturing

Retail trade

Merchant wholesalers

408.3 405.8

203.8 199.0

114.8 109.4

90.6 97.3

Total

Ratios, end-of-period inventories to monthly average sales

Manufacturing

Retail trade

Merchant wholesalers

537.1 567.5

281.6 302.8

144.4 142.3

103.5 113.7

Total

Manufacturing

Retail trade

Merchant wholesalers

1.32 1.40

1.38 1.52

1.26 1.30

1.14 1.17

Total

1975 1976 1977 1978 1979

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

376.2 403.5 431.8 458.5 469.5

179.0 195.4 211.2 221.3 224.2

110.1 117.4 123.2 129.1 131.3

87.5 91.4 98.0 108.4 114.0

546.6 578.9 607.3 645.7 666.7

295.2 309.3 317.9 332.5 345.3

135.3 145.7 153.9 164.1 164.1

107.1 115.0 127.2 141.3 148.9

1.45 1.43 1.41 1.41 1.42

1.65 1.58 1.51 1.50 1.54

1.23 1.24 1.25 1.27 1.25

1.22 1.26 1.30 1.30 1.31

1980 1981 1982 1983 1984

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

454.9 457.7 439.1 460.7 499.3

211.5 213.1 202.9 212.4 229.3

126.5 127.0 125.8 135.1 144.8

116.4 117.1 110.3 113.5 125.4

669.2 685.7 663.4 675.3 740.6

345.7 350.3 334.6 334.2 363.2

159.5 168.4 164.5 177.9 199.7

155.7 159.5 157.8 157.9 172.6

1.47 1.50 1.51 1.47 1.48

1.63 1.64 1.65 1.57 1.58

1.26 1.33 1.31 1.32 1.38

1.34 1.36 1.43 1.39 1.38

1985 1986 1987 1988 1989

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

513.8 533.6 553.2 579.1 590.5

233.5 237.6 248.0 259.4 261.9

151.2 159.6 164.2 171.3 175.6

129.4 136.6 141.3 148.6 153.1

755.3 762.4 799.5 832.7 864.6

356.9 353.1 361.6 378.5 392.7

215.1 218.5 239.7 247.4 261.9

180.6 189.2 197.6 205.9 209.2

1.47 1.43 1.45 1.44 1.46

1.53 1.49 1.46 1.46 1.50

1.42 1.37 1.46 1.44 1.49

1.40 1.38 1.40 1.39 1.37

1990 1991 1992 1993 1994

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

593.9 586.4 607.7 632.7 670.3

261.4 257.1 266.4 274.5 290.1

177.3 174.0 179.9 188.7 201.0

155.3 155.3 161.5 169.4 179.2

880.1 878.2 886.6 912.0 959.2

401.6 394.9 390.1 393.7 405.8

260.2 260.8 265.4 280.8 301.4

217.1 221.9 230.9 237.3 252.0

1.48 1.50 1.46 1.44 1.43

1.54 1.54 1.46 1.43 1.40

1.47 1.50 1.48 1.49 1.50

1.40 1.43 1.43 1.40 1.41

1995 .......................................... 1996 ..........................................

699.5 726.0

301.1 309.5

208.2 218.5

190.2 198.0

996.4 1 016.4

419.9 430.0

313.6 321.0

263.0 265.4

1.42 1.40

1.39 1.39

1.51 1.47

1.38 1.34

NAICS Basis (2000 dollars) 1997 .......................................... 1998 .......................................... 1999 ..........................................

737.1 774.7 819.4

324.1 335.6 346.2

219.8 234.2 253.6

190.2 203.2 218.9

1 025.1 1 081.4 1 143.8

430.7 449.3 466.3

340.6 357.9 385.5

254.1 274.4 292.0

1.39 1.40 1.40

1.33 1.34 1.35

1.55 1.53 1.52

1.34 1.35 1.33

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

844.8 834.8 845.0 861.8 913.1

350.2 331.2 327.7 328.3 346.3

265.9 274.0 284.5 298.4 317.2

228.7 228.7 232.9 235.8 252.2

1 188.3 1 147.9 1 168.4 1 179.0 1 221.5

474.2 452.8 447.0 439.4 445.6

407.1 396.3 420.6 437.3 452.7

307.0 298.6 300.5 302.0 323.1

1.41 1.38 1.38 1.37 1.34

1.35 1.37 1.36 1.34 1.29

1.53 1.45 1.48 1.47 1.43

1.34 1.31 1.29 1.28 1.28

2001 January ..................................... February ................................... March ........................................ April .......................................... May ........................................... June ..........................................

836.5 845.6 837.9 830.3 838.1 827.5

335.1 344.1 339.8 329.4 336.1 329.7

269.4 269.6 268.2 272.0 272.4 271.2

231.4 231.5 229.2 227.9 228.7 225.3

1 189.9 1 186.0 1 182.1 1 184.2 1 184.5 1 178.5

476.6 475.5 472.0 471.7 469.5 466.1

406.5 403.5 402.9 404.2 405.0 404.3

306.8 306.9 307.2 308.3 309.9 308.0

1.42 1.40 1.41 1.43 1.41 1.42

1.42 1.38 1.39 1.43 1.40 1.41

1.51 1.50 1.50 1.49 1.49 1.49

1.33 1.33 1.34 1.35 1.36 1.37

July ........................................... August ...................................... September ................................ October ..................................... November ................................. December .................................

832.2 834.0 817.9 842.9 836.3 838.7

331.0 330.6 319.5 325.4 325.0 328.2

271.4 273.6 268.4 289.5 281.7 280.6

228.8 228.8 228.1 227.2 228.6 228.7

1 174.4 1 173.6 1 169.6 1 157.5 1 147.9 1 147.9

464.0 461.7 458.9 457.8 455.5 452.8

404.4 406.0 405.7 396.5 391.9 396.3

305.9 305.8 304.9 303.2 300.6 298.6

1.41 1.41 1.43 1.37 1.37 1.37

1.40 1.40 1.44 1.41 1.40 1.38

1.49 1.48 1.51 1.37 1.39 1.41

1.34 1.34 1.34 1.33 1.32 1.31

2002 January ..................................... February ................................... March ........................................ April .......................................... May ........................................... June ..........................................

841.8 840.5 833.4 845.4 843.9 845.4

330.6 326.7 323.3 329.4 330.7 326.4

280.7 282.6 281.2 284.2 280.2 284.4

229.9 230.9 228.3 232.1 233.1 234.8

1 149.0 1 146.2 1 146.4 1 145.2 1 147.8 1 151.2

451.1 449.7 449.1 448.3 446.8 446.3

399.5 400.9 401.6 402.4 406.0 408.7

298.2 295.4 295.5 294.2 294.7 295.9

1.37 1.36 1.38 1.36 1.36 1.36

1.37 1.38 1.39 1.36 1.35 1.37

1.42 1.42 1.43 1.42 1.45 1.44

1.30 1.28 1.30 1.27 1.26 1.26

July ........................................... August ...................................... September ................................ October ..................................... November ................................. December .................................

851.0 852.1 843.4 846.6 849.9 846.4

331.0 328.8 326.3 329.1 326.6 323.3

286.7 288.5 283.5 285.6 287.2 289.7

233.7 235.6 234.0 232.2 236.4 233.6

1 154.5 1 154.1 1 159.3 1 159.2 1 162.9 1 168.4

446.4 446.6 447.1 446.8 445.5 447.0

410.0 409.0 413.4 414.9 419.3 420.6

297.8 298.1 298.5 297.2 297.7 300.5

1.36 1.35 1.37 1.37 1.37 1.38

1.35 1.36 1.37 1.36 1.36 1.38

1.43 1.42 1.46 1.45 1.46 1.45

1.27 1.27 1.28 1.28 1.26 1.29

2003 January ..................................... February ................................... March ........................................ April .......................................... May ........................................... June ..........................................

851.9 835.3 844.3 843.2 848.0 859.1

326.9 319.6 323.3 319.9 323.1 325.8

291.4 284.8 289.8 291.8 293.1 298.6

233.8 230.4 231.2 231.4 232.2 235.2

1 168.7 1 173.3 1 174.3 1 175.0 1 172.2 1 172.7

446.6 447.5 445.8 446.1 445.2 444.0

422.3 425.3 427.2 427.2 426.9 429.2

299.5 300.0 300.9 301.3 299.8 299.1

1.37 1.41 1.39 1.39 1.38 1.37

1.37 1.40 1.38 1.40 1.38 1.36

1.45 1.49 1.47 1.46 1.46 1.44

1.28 1.30 1.30 1.30 1.29 1.27

July ........................................... August ...................................... September ................................ October ..................................... November ................................. December .................................

871.2 868.1 873.0 877.5 882.5 887.1

333.6 327.2 332.7 334.0 334.4 339.5

301.6 305.7 303.0 303.7 308.9 308.3

237.0 236.2 238.4 241.1 241.1 241.4

1 174.1 1 169.6 1 174.7 1 178.2 1 179.9 1 179.0

442.8 442.0 440.7 440.7 439.5 439.4

432.0 428.8 434.0 435.7 439.0 437.3

299.0 298.5 299.8 301.4 301.2 302.0

1.35 1.35 1.35 1.34 1.34 1.33

1.33 1.35 1.33 1.32 1.31 1.29

1.43 1.40 1.43 1.44 1.42 1.42

1.26 1.26 1.26 1.25 1.25 1.25

2004 January ..................................... February ................................... March ........................................ April .......................................... May ........................................... June ..........................................

886.1 889.7 913.7 905.7 910.1 910.2

337.4 336.7 349.5 345.4 344.8 347.7

309.2 309.9 315.9 311.5 317.0 312.3

241.0 245.0 251.1 251.1 250.9 252.6

1 178.6 1 184.3 1 190.3 1 194.8 1 197.5 1 203.3

439.8 441.2 441.7 441.8 442.1 443.5

437.8 439.0 443.9 449.2 449.4 451.0

300.7 303.8 304.5 303.8 306.0 308.7

1.33 1.33 1.30 1.32 1.32 1.32

1.30 1.31 1.26 1.28 1.28 1.28

1.42 1.42 1.41 1.44 1.42 1.44

1.25 1.24 1.21 1.21 1.22 1.22

July ........................................... August ...................................... September ................................ October ..................................... November ................................. December .................................

916.0 920.7 921.1 922.9 924.6 936.9

349.2 351.3 345.8 348.1 347.8 352.2

317.7 317.5 322.4 322.5 323.0 327.7

252.1 254.6 255.7 255.2 256.7 260.5

1 207.3 1 212.0 1 210.4 1 216.1 1 222.5 1 221.5

445.9 446.9 445.2 445.9 447.5 445.6

448.3 448.5 448.5 450.6 452.4 452.7

312.9 316.3 316.5 319.3 322.5 323.1

1.32 1.32 1.31 1.32 1.32 1.30

1.28 1.27 1.29 1.28 1.29 1.27

1.41 1.41 1.39 1.40 1.40 1.38

1.24 1.24 1.24 1.25 1.26 1.24

2000 2001 2002 2003 2004

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

105

Table 5-10. Capital Expenditures, 1996–2003 (Millions of dollars.) All companies Capital expenditures 1996

1997

1998

1999

2000

2001

2002

2003

TOTAL ..............................................................................................

807 070

871 765

970 897

1 046 952

1 161 029

1 109 004

997 894

983 815

Structures ......................................................................................... New .............................................................................................. Used ............................................................................................. Equipment ........................................................................................ New .............................................................................................. Used ............................................................................................. Not distributed as structures or equipment .......................................

243 427 223 588 19 839 563 641 526 016 37 625 2

273 298 254 451 18 849 598 466 562 019 36 447 0

329 111 284 491 44 620 641 786 606 210 35 577 0

320 078 296 496 23 583 726 874 689 553 37 321 0

364 407 329 525 34 882 796 622 750 626 45 996 0

363 748 335 538 28 210 745 256 706 617 38 639 0

358 484 321 191 37 293 639 410 598 668 40 741 0

343 721 304 094 39 627 640 094 589 643 50 451 0

15 675 ...

16 066 ...

16 533 ...

17 140 ...

19 545 ...

15 529 ...

15 334 ...

15 641 ...

CAPITAL LEASE AND CAPITALIZED INTEREST EXPENSES 1 Capital leases ................................................................................... Capitalized interest ...........................................................................

Companies with employees Capital expenditures 1996

1997

1998

1999

2000

2001

2002

2003

TOTAL ..............................................................................................

707 110

772 343

896 452

974 631

1 089 862

1 052 344

917 490

895 646

Structures ......................................................................................... New .............................................................................................. Used ............................................................................................. Equipment ........................................................................................ New .............................................................................................. Used ............................................................................................. Not distributed as structures or equipment .......................................

204 345 191 867 12 478 502 762 481 785 20 977 2

236 166 225 107 11 060 536 177 515 965 20 212 0

300 283 260 008 40 275 596 169 570 397 25 773 0

293 787 276 094 17 693 680 843 656 344 24 499 0

338 120 309 541 28 579 751 742 718 227 33 515 0

346 221 323 871 22 349 706 123 679 090 27 033 0

325 168 299 941 25 227 592 321 564 218 28 103 0

313 101 280 695 32 406 582 546 550 841 31 705 0

13 023 6 827

14 549 7 273

15 631 9 799

16 594 9 591

19 184 11 423

15 500 11 969

15 092 ...

15 137 ...

CAPITAL LEASE AND CAPITALIZED INTEREST EXPENSES 1 Capital leases ................................................................................... Capitalized interest ...........................................................................

Companies without employees Capital expenditures 1996

1997

1998

1999

2000

2001

2002

2003

TOTAL ..............................................................................................

99 960

99 422

74 445

72 322

71 168

56 660

80 404

88 169

Structures ......................................................................................... New .............................................................................................. Used ............................................................................................. Equipment ........................................................................................ New .............................................................................................. Used ............................................................................................. Not distributed as structures or equipment .......................................

39 082 31 721 7 361 60 878 44 231 16 648 0

37 132 29 344 7 789 62 289 46 054 16 235 0

28 828 24 483 4 345 45 617 35 813 9 804 0

26 291 20 402 5 889 46 030 33 209 12 821 0

26 287 19 984 6 303 44 880 32 399 12 481 0

17 527 11 667 5 860 39 133 27 528 11 605 0

33 316 21 250 12 066 47 088 34 450 12 638 0

30 621 23 399 7 222 57 549 38 803 18 746 0

2 652 ...

1 517 ...

902 ...

546 ...

361 ...

29 ...

242 ...

504 ...

CAPITAL LEASE AND CAPITALIZED INTEREST EXPENSES 1 Capital leases ................................................................................... Capitalized interest ........................................................................... 1Included

in data shown above. . . . = Not available.

106

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 5-11. Capital Expenditures for Structures and Equipment for Companies with Employees by Major NAICS Industry Sector, 1998–2003 (Millions of dollars.) Manufacturing (31–33) Year and type of expenditure

Total

Forestry, fishing, and agricultural Mining (21) Utilities (22) services (113–115)

Construction (23)

Total

Durable goods industries (321, 327, 33)

Nondurable goods industries (31, 322–326)

Wholesale trade (42)

Retail trade (44–45)

Transportation and Information ware(51) housing (48–49)

1998 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

896 452 300 283 260 008 40 275 596 169 570 397 25 773

854 206 158 49 648 603 46

40 424 26 503 24 714 1 789 13 921 12 625 1 296

36 010 18 574 17 771 804 17 436 17 266 170

26 867 7 062 4 749 2 313 19 805 15 346 4 458

203 587 39 028 37 122 1 906 164 559 159 363 5 196

117 901 19 406 18 449 957 98 496 95 571 2 925

85 685 19 622 18 673 949 66 063 63 792 2 271

29 169 7 480 6 738 742 21 690 20 470 1 220

57 276 25 105 23 104 2 001 32 171 30 359 1 812

51 287 13 036 12 365 671 38 251 33 409 4 842

96 487 24 721 24 218 503 71 766 70 827 939

1999 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

974 631 293 787 276 094 17 693 680 843 656 344 24 499

1 716 344 331 13 1 371 1 190 182

30 586 17 626 17 039 587 12 960 12 167 793

42 802 21 241 20 784 457 21 561 20 545 1 016

23 110 1 753 1 505 248 21 356 18 600 2 756

196 399 33 985 32 814 1 171 162 414 157 715 4 699

117 005 17 320 16 581 739 99 685 96 434 3 251

79 394 16 665 16 233 432 62 729 61 281 1 448

32 442 7 264 6 508 756 25 179 23 714 1 465

64 063 29 494 28 670 824 34 569 33 567 1 002

57 299 14 122 13 859 263 43 178 40 425 2 752

122 827 34 924 33 733 1 191 87 903 85 310 2 593

2000 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

1 089 862 338 120 309 541 28 579 751 742 718 227 33 515

1 488 139 134 5 1 350 1 086 264

42 522 28 620 25 500 3 120 13 902 12 854 1 048

61 302 29 472 29 258 214 31 830 27 937 3 893

25 049 2 803 2 583 220 22 245 17 788 4 458

214 827 39 434 36 643 2 791 175 393 169 454 5 939

133 786 21 228 19 748 1 480 112 558 108 703 3 856

81 041 18 207 16 895 1 312 62 835 60 751 2 083

33 579 8 923 8 364 559 24 656 23 610 1 046

69 791 32 037 30 413 1 624 37 754 36 428 1 326

59 851 13 457 13 190 267 46 394 43 455 2 938

160 177 41 502 40 062 1 440 118 675 117 835 841

2001 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

1 052 344 346 221 323 871 22 349 706 123 679 090 27 033

1 532 226 149 77 1 306 1 091 215

51 278 32 678 31 825 853 18 600 17 567 1 033

82 823 38 093 36 504 1 588 44 731 42 939 1 792

24 802 3 859 3 389 470 20 943 17 432 3 511

192 835 39 815 38 001 1 814 153 019 148 397 4 623

118 875 22 032 20 701 1 331 96 844 94 251 2 592

73 959 17 784 17 301 483 56 176 54 145 2 030

29 981 6 932 5 357 1 575 23 049 20 757 2 292

66 917 30 010 29 118 892 36 906 35 074 1 833

57 756 16 594 14 479 2 116 41 161 38 521 2 640

144 793 41 742 41 384 358 103 051 102 410 641

2002 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

917 490 325 168 299 941 25 227 592 321 564 218 28 103

1 910 184 118 66 1 726 1 319 407

42 467 30 685 29 775 910 11 783 10 262 1 520

65 502 29 893 29 008 886 35 609 34 816 793

24 773 1 890 1 254 456 23 063 19 257 3 806

157 243 32 643 31 022 1 622 124 600 118 621 5 978

84 062 15 133 14 396 737 68 929 66 112 2 817

73 181 17 510 16 626 885 55 671 52 510 3 161

26 789 5 885 5 447 438 20 904 18 562 2 342

59 316 26 286 25 051 1 234 33 030 31 157 1 873

47 124 14 498 13 870 628 32 626 29 178 3 447

88 156 33 607 33 472 135 54 550 54 247 303

2003 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

895 646 313 101 280 695 32 406 582 546 550 841 31 705

1 894 202 177 25 1 692 1 267 425

50 513 36 361 35 641 720 14 152 12 265 1 887

54 748 24 747 24 487 261 30 001 29 316 685

23 136 1 665 141 251 21 471 16 193 5 278

149 509 30 490 28 668 1 823 119 018 113 156 5 862

81 116 13 535 12 806 730 67 581 63 476 4 105

68 393 16 955 15 862 1 093 51 438 49 680 1 757

28 420 6 000 5 061 939 22 420 20 450 1 970

65 548 29 530 27 255 2 275 36 018 31 987 4 031

44 892 12 919 11 692 1 226 31 973 27 361 4 612

81 658 30 750 30 391 358 50 908 50 463 445

Note: Detail may not add up to total because of rounding.

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

107

Table 5-11. Capital Expenditures for Structures and Equipment for Companies with Employees by Major NAICS Industry Sector, 1998–2003 —Continued (Millions of dollars.) AdminisManagement Professional, trative and of companies scientific, support and Educational and services (61) and technical waste enterprises services (54) management (55) (56)

Structure and Other Accommoequipment services, dation and expenditures except public food services serving adminis(72) multiple tration (81) industries

Real estate and rental and leasing (53)

1998 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

118 173 27 221 16 858 10 362 90 952 90 058 894

85 184 36 775 24 109 12 666 48 409 46 877 1 532

22 277 4 886 4 572 314 17 390 16 868 522

1 821 753 502 251 1 068 1 030 38

13 110 4 288 3 745 543 8 822 8 346 476

12 983 9 109 8 734 374 3 874 3 825 49

47 109 23 971 21 328 2 643 23 138 22 465 672

8 994 5 045 4 838 206 3 949 3 752 197

20 822 12 045 10 402 1 643 8 777 8 005 772

20 627 13 737 13 280 457 6 890 6 296 594

3 392 738 699 39 2 654 2 609 46

1999 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

130 101 20 080 17 918 2 162 110 021 109 577 444

100 629 33 903 30 295 3 608 66 726 63 555 3 171

29 546 6 780 6 168 613 22 766 22 153 613

6 065 1 668 1 509 159 4 397 4 319 78

16 227 2 875 2 773 102 13 353 12 323 1 029

13 532 9 767 9 140 627 3 766 3 668 97

51 342 25 922 24 159 1 763 25 420 24 945 475

13 355 8 119 7 971 148 5 236 5 125 111

23 328 13 431 11 391 2 040 9 897 9 324 573

16 902 9 975 9 033 941 6 928 6 370 558

2 359 516 495 21 1 843 1 752 91

2000 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

133 684 23 010 20 298 2 712 110 675 109 678 997

92 456 24 815 17 793 7 022 67 641 62 175 5 466

34 055 8 141 7 470 671 25 914 24 847 1 067

5 054 1 570 955 615 3 484 3 403 81

17 506 4 032 3 504 528 13 475 12 723 752

18 223 13 699 12 965 735 4 523 4 338 186

52 166 26 868 23 999 2 869 25 299 24 407 892

19 125 12 245 11 627 618 6 880 6 161 719

26 307 13 873 12 879 993 12 434 11 501 933

21 125 13 274 11 705 1 569 7 852 7 192 659

1 572 206 200 6 1 366 1 357 10

2001 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

131 105 22 744 19 571 3 173 108 361 107 268 1 093

82 674 20 489 17 325 3 164 62 185 60 295 1 891

30 464 7 258 6 793 465 23 206 22 330 876

3 035 933 869 64 2 102 2 019 83

15 785 3 527 3 367 160 12 258 11 644 613

17 377 12 852 11 860 991 4 525 4 238 287

52 932 27 030 25 241 1 789 25 902 24 573 1 329

14 974 8 998 8 157 841 5 976 5 590 386

21 365 12 248 11 402 846 9 117 7 921 1 196

29 006 20 031 18 918 1 112 8 976 8 300 676

911 163 162 0 749 725 24

2002 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

128 444 24 308 19 748 4 739 103 956 103 421 535

94 529 35 579 30 227 5 352 58 949 56 847 2 102

25 864 7 129 6 424 706 18 735 18 021 714

3 430 933 913 21 2 497 2 481 16

14 719 3 276 2 948 328 11 443 10 585 857

19 532 14 655 13 601 1 055 4 876 4 690 186

59 311 30 291 27 273 3 018 29 021 28 196 825

13 169 7 758 7 332 425 5 412 5 132 280

22 409 12 157 10 848 1 309 10 252 9 290 962

21 269 13 261 11 363 1 899 8 007 6 858 1 149

1 532 250 248 2 1 282 1 276 6

2003 Total expenditures .............. Structures, total .............. New ............................ Used ........................... Equipment, total ............. New ............................ Used ...........................

125 109 25 012 17 267 7 745 100 097 99 714 383

89 392 26 216 17 086 9 130 63 176 61 585 1 591

24 877 5 314 4 667 648 19 562 18 848 714

3 397 980 924 56 2 417 2 411 5

15 600 3 907 3 139 768 11 693 10 431 1 262

16 601 11 918 11 503 415 4 683 4 569 114

60 776 30 921 28 810 2 111 29 855 29 205 650

11 029 6 800 6 532 268 4 229 4 038 192

21 036 10 568 9 417 1 151 10 468 9 684 783

26 118 18 528 16 297 2 230 7 591 6 779 811

1 394 272 265 7 1 122 1 118 4

Year and type of expenditure

Note: Detail may not add up to total because of rounding.

Health care and social assistance (62)

Arts, entertainment, and recreation (71)

Finance and insurance (52)

108

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 5-1 THROUGH 5-4 AND 5-7 GROSS SAVING AND INVESTMENT ACCOUNTS; INVENTORIES TO SALES RATIOS SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

Revisions Data in these tables reflect revisions to the national income and product accounts (NIPAs) available through August 2005. Definitions: Table 5-1 Gross saving is saving before the deduction of allowances for the consumption, or the using-up, of fixed capital. It represents the amount of saving available to finance gross investment. Net saving is gross saving less allowances for fixed capital consumption. It represents the amount of saving available for financing new capital spending. Personal saving is derived by subtracting personal outlays from disposable personal income (see Chapter 4 for more information). It is the current net saving of individuals (including proprietors of unincorporated businesses), nonprofit institutions that primarily serve individuals, life insurance carriers, retirement funds, private noninsured welfare funds, and private trust funds. Conceptually, personal saving may also be viewed as the sum for all persons (including institutions as just defined) of the net acquisition of financial assets and the change in physical assets, less the sum of net borrowing and consumption of fixed capital. In either case, it is defined to exclude capital gains. That is, it excludes profits on the sale of homes, securities, and other property—whether realized or unrealized—and includes the noncorporate inventory valuation and capital consumption adjustments (IVA and CCAdj). (See notes and definitions to Tables 1-1 through 1-13.) Undistributed profits is corporate profits after tax less dividends, with the corporate IVA and corporate CCAdj. (See notes and definitions to Tables 1-1 through 1-13.) Government net saving was formerly called “current surplus (deficit-) of general government.” See Chapter 6 for further detail from the government accounts. Where current receipts of government exceed current expenditures, government has a current surplus (indicated by a positive value) and saving is made available to finance investment by government or other sectors—for example, by the repayment of debt, which can free up funds for private investment. Where current expenditures exceed current receipts, there is a government deficit (indicated by a negative value) and government must borrow, drawing on funds that would otherwise be available for private investment.

Consumption of fixed capital is an accounting charge for the using-up of private and government fixed capital, including software, located in the United States. It is based on studies of prices of used equipment and structures in resale markets. For general government and for nonprofit institutions primarily serving individuals, it is recorded in government consumption expenditures and in personal consumption expenditures, respectively, as the value of the current services of the fixed capital assets owned and used by these entities. Private consumption of fixed capital consists of tax-return-based depreciation charges for corporations and nonfarm proprietorships and of historical-cost depreciation (calculated by the Bureau of Economic Analysis [BEA] using a geometric pattern of price declines) for farm proprietorships, rental income of persons, and nonprofit institutions, minus the capital consumption adjustments. (In other words, in the NIPA treatment of saving, the amount of the CCAdj is taken out of book depreciation and added to income and profits—a reallocation from one form of gross saving to another.) Gross private domestic investment consists of gross private fixed investment and change in private inventories. See the notes and definitions for Chapter 1. Gross government investment consists of federal, state, and local general government and government enterprise expenditures for fixed assets (structures, equipment, and software). Government inventory investment is included in government consumption expenditures. For more detail, see Chapter 6. Capital account transactions, net are net cash or in-kind transfers between the United States and the rest of the world that are linked to the acquisition or disposition of an asset rather than the purchase or sale of currentlyproduced goods and services. When positive, it represents a net transfer from the United States to the rest of the world; when negative, it represents a net transfer to the United States from the rest of the world. This is a definitional category introduced in the 1999 revision. Estimates are available only from 1982 forward. Net lending or net borrowing (-), NIPAs is equal to the international balance on current account as measured in the NIPAs (see Chapter 7) less capital account transactions, net. When positive, this represents net investment by the United States in the rest of the world; when negative, it represents net borrowing by the United States from the rest of the world. Before 1982, net lending or net borrowing equals the NIPA balance on current account, as estimates of capital account transactions are not available. By definition, gross national saving must equal the sum of gross domestic investment, capital account transactions, and net international lending or borrowing. In practice, due to differences in measurement, they differ by the same statistical discrepancy calculated in the national

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

income and product accounts (see Chapter 1). Where the statistical discrepancy is negative, measured investment, capital transactions, and net international transactions have fallen short of measured saving. Gross national income is national income plus the consumption of fixed capital. (See Chapter 1 for further information.) This is a new concept introduced in the 2003 revision. It is conceptually equal to gross national product, but differs by the statistical discrepancy. It is an appropriate denominator for the national saving ratios. Saving was previously shown as a percent of gross national product; in the revision, it is instead shown as a percent of the income-side equivalent of gross national product. Since saving is measured as a residual from income, it seems more appropriate to involve the same measurement imperfections in both the numerator and the denominator of the fraction. Definitions: Tables 5-2 through 5-4 Gross private fixed investment comprises both nonresidential and residential fixed investment. It consists of purchases of fixed assets, which are commodities that will be used in a production process for more than one year, including replacements and additions to the capital stock. It is “gross” because it is measured before a deduction for consumption of fixed capital. It covers all investment by private businesses and nonprofit institutions in the United States, regardless of whether the investment is owned by U.S. residents. It does not include purchases of the same types of equipment and structures by government agencies, which are included in government gross investment, or investment by U.S. residents in other countries. Gross nonresidential fixed investment consists of structures, equipment, and software not related to personal residences. Nonresidential structures consists of new construction, brokers’ commissions on sales of structures, and net purchases (purchases less sales) of used structures by private business and by nonprofit institutions from government agencies. New construction includes hotels, motels, and mining exploration, shafts, and wells. Nonresidential equipment and software consists of private business purchases, on capital account, of new machinery, equipment, and vehicles; purchases and in-house production of software; dealers’ margins on sales of used equipment; and net purchases (purchases less sales) of used equipment from government agencies, persons, and the rest of the world. (It does not, however, include the personal-use portion of equipment purchased for both business and personal use. This is included in PCE.) Residential private fixed investment consists of both structures and residential producers’ durable equipment—that is, equipment owned by landlords and rented to tenants.

109

Investment in structures consists of new units, improvements to existing units, manufactured homes, brokers’ commissions on the sale of residential property, and net purchases (purchases less sales) of used structures from government agencies. Real gross private investment (Table 5-3) and chain-type quantity indexes for private fixed investment (Table 5-4) are defined and explained in the notes and definitions to Chapter 1. The chained-dollar (2000) estimates in Table 5-3 are constructed by applying the changes in the chaintype quantity indexes, as shown in Table 5-4, to the 2000 current-dollar values. Thus, they do not contain any information about time trends that is not already present in the quantity indexes. As the quantity indexes are chain-weighted at the basic level of aggregation, chained constant-dollar components generally do not add to the chained constant-dollar totals. For this reason, BEA only makes available 2000dollar estimates back to 1990 (except for the very highest levels of aggregation of GDP), since the addition problem is less severe for years around the base year. However, the addition problem is so severe for computers that BEA does not even publish recent 2000-dollar values for this component. BEA notes that “The quantity index for computers can be used to accurately measure the real growth rate of this component. However, because computers exhibit rapid changes in prices relative to other prices in the economy, the chained-dollar estimates should not be used to measure the component’s relative importance or its contribution to the growth rate of more aggregate series….” (Footnote to BEA Table 5.3.6, Survey of Current Business on the BEA Web site.) Accurate estimates of these contributions are shown in BEA Table 5.3.2, which is published in the Survey of Current Business and can be found on the BEA Web site at . Definitions: Table 5-7 Inventories to sales ratios. The ratios shown in Table 5-7 are based on the inventory estimates underlying the measurement of inventory change in the NIPAs. They include data and estimates for not only the inventories held in manufacturing and trade (see the following Tables 5-8 and 5-9), but also stocks held by all other businesses in the U.S. economy. For the current-dollar ratios, inventories at the end of each quarter are valued in the prices that prevailed at the end of that quarter. For the constant-dollar ratios, they are valued in chained (2000) dollars. In both cases, the inventory/sales ratio is the value of the inventories at the end of the quarter divided by quarterly total sales at monthly rates (quarterly totals divided by 3). In other words, they represent how many months’ supply businesses had on hand at the end of the period. Annual data are those for the fourth quarter.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Data availability Current data for some of these series are included in the monthly release of the latest NIPA estimates. All of the series are subsequently published each month in the BEA’s Survey of Current Business. Current and historical data may be obtained from the BEA Web site at or the STAT-USA subscription Web site at . References Sources of information about the NIPAs are listed in the notes and definitions for Tables 1-1 through 1-13. TABLE 5-5 AND 5-6 CURRENT-COST NET STOCK OF FIXED ASSETS; CHAIN-TYPE QUANTITY INDEXES FOR NET STOCK OF FIXED ASSETS BEA calculates measures, integrated with the NIPAs, of the level of the stock of fixed assets in the U.S. economy, or what is commonly called the “capital stock.” (The fixed investment component of the GDP is a flow, or the increment of new capital goods into the capital stock.) These two tables present two measures of the capital stock. At the time Business Statistics went to press, new and revised data for the years 1987–2004 were available, but previous years’ data had not yet been revised for comparability. Data for the overlap year 1987 are shown on both the old and the new basis to help users link old and new data into a continuous series. Definitions and methods The definitions of capital stock categories are the same as used in GDP investment categories (see the above notes and definitions to Tables 5-2 through 5-4). The values of fixed capital and depreciation typically reported by businesses are inadequate for economic analysis and are not typically used in these measures. In business reports, capital is generally valued at historical costs—each year’s capital acquisition in the prices of the year acquired—and the totals therefore represent a mixture of pricing bases. Reported depreciation is generally based on historical cost and on depreciation rates allowable by federal income tax law, rather than on a realistic rate of economic depreciation. In these data, the net stock of fixed assets is measured by a perpetual inventory method. In other words, net stock at any given time is the cumulative value of past gross investment less the cumulative value of past depreciation, including damages from disasters and war losses that exceed normal depreciation (such as the terrorist attack on September 11, 2001).

Gross investment is the gross fixed investment component of GDP. Depreciation for privately-owned assets is the value of “consumption of fixed capital” in the NIPAs, which is subtracted from gross domestic product in order to yield net domestic product. For government assets, the published NIPA value of consumption of fixed capital does not include disaster and war loss damage. The value of these damages is calculated by BEA and subtracted from capital stock assets for the purpose of fixed asset measurement. The initial calculations using this perpetual inventory method are performed in real terms for each type of asset. They are then aggregated to higher levels using an annual-weighted Fisher-type index; see the definition of real or chained-dollar estimates in the notes and definitions to Chapter 1. This provides the chain-type quantity indexes shown in Table 5-6. Growth rates in these indexes measure real growth in the capital stock. The real values are then converted to a current-cost basis to yield the values shown in Table 5-5. They are converted by multiplying the real values by the appropriate price index for the period under consideration. A major use of the current-cost net stock figures is comparison with the value of output in that year; for example, the current-cost net stock of fixed assets for the total economy divided by the current-dollar value of GDP yields a capital/output ratio for the entire economy. Growth rates in current-cost values will reflect both the real growth measured by the quantity indexes and the increase in the value at current prices of the existing stock. Data availability The fixed asset values are revised and updated periodically in articles in the Survey of Current Business. The 1994–2004 values shown here are from the September 2005 issue. The data for 1987 through 1993 were revised and published on the BEA Web site in March 2005. Data for earlier years and for the overlap year 1987 are from the May 2004 Survey of Current Business and are not directly comparable, since they do not reflect the 2005 revisions, which affected historical data for private nonresidential fixed assets. Further revisions to historical data and updates will be posted on the BEA Web site at . References The latest revision is presented and described in “Fixed Assets and Consumer Durable Goods for 1994–2004,” Survey of Current Business, September 2005. Data for earlier years are presented and described in “Fixed Assets and Consumer Durable Goods: Preliminary Estimates for 2002 and Revised Estimates for 1925–2001,” Survey of Current Business, May 2004. The fixed asset measures are described in Fixed Assets and Consumer Durable Goods in the United States, 1925–97

CHAPTER 5: SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES

(September 2003), available on the BEA Web site at . TABLES 5-8 AND 5-9 MANUFACTURING AND TRADE SALES AND INVENTORIES SOURCES: U.S. DEPARTMENT OF COMMERCE, BUREAU OF THE CENSUS (CURRENT DOLLAR SERIES) AND U.S. DEPARTMENT OF COMMERCE, BUREAU OF ECONOMIC ANALYSIS (CONSTANT DOLLAR SERIES) The current dollar data on these pages draw together summary data from the separate series on manufacturers’ shipments, inventories, and orders; merchant wholesalers’ sales and inventories; and retail sales and inventories, all of which are included in Part B of this book. Generally, current-dollar inventories are collected on a current cost (or pre-LIFO) basis. See the notes to Tables 17-4, 17-5, and 17-9 through 17-11 for further information about these data. Data for recent years are compiled using the new North American Industry Classification System (NAICS), replacing the old Standard Industrial Classification (SIC). The Census Bureau has restated the current-dollar historical data on the NAICS basis back to January 1992. To allow the user to observe the difference between the two systems, and to “link” the new data to older data if a longer time series is required, Business Statistics republishes the previous SIC-based annual data up through 1992 to provide an overlap with the new data in that year. The Bureau of Economic Analysis has restated the constant-dollar data on the NAICS basis back to the beginning of 1997. Business Statistics is publishing the previous SIC-based annual data through 1996. BEA provides overlapping data on its Web site at . In the NAICS, a few major industries have been entirely taken out of manufacturing and trade. Publishing and aerospace research activities have been reclassified from manufacturing to the new information industry, and food services and drinking places have been reclassified from retail trade to a new services category, accommodation and food services, which also includes hotels and similar establishments. A number of other activities have been moved within the broad category of manufacturing and trade. Food items made in retail establishments have been reclassified into manufacturing. A significant number of businesses previously classified as wholesale have been shifted to retail. Finally, the retail trade data, and therefore the total manufacturing and trade data, are no longer subdivided into durable and nondurable goods. Based on these current-dollar values and relevant price data, the BEA makes estimates of real sales, inventories,

111

and inventory-sales ratios. Note, however, that annual figures for sales are shown as annual totals in Table 5-8 but as averages of the monthly data in Table 5-9. Inventory values are as of the end of the month or year. In Table 5-8, annual values for monthly current-dollar inventory-sales ratios are averages of seasonally adjusted monthly data. However, for the real ratios in Table 5-9, annual figures for inventory/sales ratios are calculated by BEA as year-end (December) inventories divided by the monthly average of sales for the entire year. In all cases, the ratios in these two tables, like those in Table 5-7, represent the number of months’ sales on hand as inventory at the end of the reporting period. Data availability Sales, inventories, and inventory-sales ratios for manufacturers, merchant wholesalers, and retailers are published monthly by the Census Bureau in a press release entitled “Manufacturing and Trade Inventories and Sales”; recent data are available on the Web site at . Sales and inventories in constant dollars are available on the BEA Web site at . To locate these data on that site, click on “Gross Domestic Product.” Then, under “Supplemental Estimates,” click “Underlying Detail Tables,” and then on “List of Underlying Detail Tables.” For the most recent data, select the last table where there is more than one table with the same title. References Further information comparing NAICS and SIC industries can be found on the Census Web site at . For information about the 1996 historical revisions to sales and inventories in constant dollars, see “Real Inventories, Sales, and Inventory-Sales Ratios for Manufacturing and Trade, 1977–95,” Survey of Current Business, May 1996. TABLES 5-10 AND 5-11 ANNUAL CAPITAL EXPENDITURES SOURCE: U.S. DEPARTMENT

OF

COMMERCE, CENSUS BUREAU

These data are from the Census Bureau’s Annual Capital Expenditures Survey (ACES). The survey provides detailed information on capital investment in new and used structures and equipment by nonfarm businesses for 1996 through 2003. The survey is based on a sample of approximately 46,000 companies with employees and 15,000 non-employer businesses (businesses with an owner but no employees). For companies with employees, the Census Bureau reports data for the years 1998 through 2003 for 132 sep-

112

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

arate industry categories from the North American Industry Classification System (NAICS); Table 5-11 shows these data for the major NAICS sectors. Total capital expenditures, with no industry detail, are reported for the nonemployer businesses and are shown in Table 5-10, where they can be compared with the totals for companies with employees for the years 1996 through 2003. Capital expenditures include all capitalized costs during the year for both new and used structures and equipment, including software, chargeable to fixed asset accounts for which depreciation or amortization accounts are ordinarily maintained. For projects lasting longer than one year, this definition includes gross additions to construction-in-progress accounts, even if the asset was not in use and not yet depreciated. For capital leases, the company using the asset (lessee) is asked to include the cost or present value of the leased assets for the year in

which the lease was entered into. Also included in capital expenditures are capitalized leasehold improvements and capitalized interest charges on loans used to finance capital projects. Data availability The Annual Capital Expenditure Survey: 2003 was published by the Census Bureau in February 2005 and, in addition to new data for 2003, contains revised data for 2002 and 2001. Previous surveys using NAICS, each containing the latest year’s data and revisions for the preceding year, were issued in February 2004, January 2003, April 2002, and May 2001. The 1998 and 1997 surveys show data by industry using the 1987 Standard Industrial Classification (SIC) system. Current and past surveys are available on the Census Web site at .

CHAPTER 6: GOVERNMENT Section 6a: Federal Government in the National Income and Product Accounts

Figure 6-1. Federal Government Saving and Dis-saving, 1946–2004 (surplus + / deficit -, as percent of GDP) 4 Total

Social insurance funds

Other

Percent

2

0

-2

-4

-6 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2001 2004

Year

• Since the changes enacted in 1983 in Social Security funding, the federal government’s social insurance funds have made a modest positive contribution to national saving. The remainder of the federal current budget has swung from large deficits to significant positive saving and back to deficit since the early 1980s. Periods of economic slack (recessions and early recoveries) tend to increase deficits more or less automatically, as existing tax laws and spending programs produce different rates of receipts and spending in response to the changes in economic activity. Spending changes and changes in tax law also have significant effects. (Tables 6-1 and 1-1) • Total federal government current expenditures have changed little as a percent of GDP: they were 20.0 percent in 1946 and 20.2 percent in 2004. However, the composition of those expenditures changed over that period. The interest share was little changed, but consumption expenditures fell from 60 percent to 30 percent of total federal spending, while social benefits (such as Medicare and Social Security) rose from 20 percent to 43 percent. Grants to state and local governments increased from 2 percent to 15 percent. (Tables 6-1 and 1-1) • Federal government nondefense consumption spending, in real terms (as measured by the quantity index), increased 566 percent from 1946 to 2004, for an annual rate of increase of 3.3 percent per year. Real federal nondefense gross investment spending was up 1,687 percent, or 5.1 percent per year. (Table 6-6) • Real defense consumption spending jumped 29 percent in the four years since 2000, but is still only 77 percent above the rate for 1946, largely reflecting the fact that the armed forces were far larger in 1946 than they are now. Real defense investment spending is up 40 percent from 2000 and 663 percent from 1946, as defense spending shifted from manpower to equipment. (Table 6-6)

113

114

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-1. Federal Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current receipts Tax receipts Year and quarter Total Total 1

Personal current taxes

Taxes on production and imports Total 1

Excise taxes

Income receipts on assets Taxes on corporate income

Total

Federal Reserve banks

Other

Contributions for government social insurance

Total

Interest receipts

Rents and royalties

Current transfer receipts

Current surplus of government enterprises

1946 1947 1948 1949

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

39.5 42.8 42.4 37.9

32.7 37.1 37.6 32.8

16.4 18.8 18.1 15.4

7.7 7.7 7.8 7.9

7.2 7.2 7.4 7.5

8.6 10.7 11.8 9.6

0.0 0.1 0.2 0.2

8.6 10.6 11.6 9.4

6.5 5.4 4.4 4.7

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

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

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

0.3 0.3 0.3 0.3

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

1950 1951 1952 1953 1954

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

48.8 62.9 65.8 68.6 62.5

43.3 56.3 58.9 61.5 54.4

17.4 25.4 30.2 31.3 28.1

8.7 9.2 10.1 10.7 9.5

8.2 8.6 9.6 10.2 9.0

17.2 21.7 18.6 19.5 16.9

0.2 0.3 0.3 0.3 0.3

17.0 21.4 18.3 19.1 16.6

5.3 6.4 6.6 6.8 7.8

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

... ... ... ... ...

... ... ... ... ...

0.2 0.3 0.3 0.3 0.3

... ... ... ... ...

1955 1956 1957 1958 1959

........................... ........................... ........................... ........................... ...........................

71.1 75.8 79.3 76.0 87.0

62.0 65.9 67.9 64.7 73.3

30.5 33.9 36.0 35.5 38.5

10.4 11.0 11.5 11.2 12.2

9.8 10.3 10.8 10.4 11.2

21.1 20.9 20.4 18.0 22.5

0.3 0.4 0.5 0.5 0.9

20.8 20.5 19.9 17.4 21.6

8.8 9.6 11.0 11.0 13.4

... ... ... ... 0.0

... ... ... ... ...

... ... ... ... 0.0

0.3 0.4 0.4 0.4 0.4

... ... ... ... -0.1

1960 1961 1962 1963 1964

........................... ........................... ........................... ........................... ...........................

93.9 95.5 103.6 111.8 111.8

76.5 77.5 83.3 88.6 87.8

41.8 42.7 46.5 49.1 46.0

13.1 13.2 14.2 14.7 15.5

12.0 12.2 13.0 13.5 14.2

21.4 21.5 22.5 24.6 26.1

0.9 0.7 0.8 0.9 1.6

20.6 20.8 21.7 23.7 24.6

16.0 16.5 18.6 21.0 21.7

1.4 1.5 1.7 1.8 1.8

1.3 1.4 1.6 1.7 1.7

0.0 0.1 0.1 0.1 0.1

0.4 0.5 0.5 0.6 0.7

-0.3 -0.5 -0.5 -0.3 -0.3

1965 1966 1967 1968 1969

........................... ........................... ........................... ........................... ...........................

120.9 137.9 146.9 171.2 192.5

95.7 104.8 109.9 129.8 146.1

51.1 58.6 64.4 76.4 91.7

15.5 14.5 15.2 17.0 17.9

13.9 12.6 13.3 14.7 15.5

28.9 31.4 30.0 36.1 36.1

1.3 1.6 1.9 2.5 3.0

27.6 29.8 28.1 33.6 33.0

22.7 30.5 34.0 37.8 43.1

1.9 2.1 2.5 2.9 2.7

1.8 2.0 2.3 2.7 2.5

0.1 0.1 0.2 0.2 0.2

1.1 1.2 1.1 1.1 1.1

-0.3 -0.6 -0.6 -0.3 -0.5

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

186.0 191.7 220.1 250.4 279.5

138.0 138.7 158.4 173.1 192.2

88.9 85.8 102.8 109.6 126.5

18.2 19.1 18.6 19.9 20.2

15.7 16.0 15.6 16.7 16.5

30.6 33.5 36.6 43.3 45.1

3.5 3.4 3.2 4.3 5.6

27.1 30.1 33.4 38.9 39.6

45.3 50.0 57.9 74.0 83.5

3.1 3.5 3.6 3.8 4.2

2.8 3.1 3.3 3.4 3.6

0.2 0.3 0.4 0.4 0.5

1.1 1.1 1.3 1.3 1.4

-1.5 -1.6 -1.1 -1.8 -1.8

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

277.2 322.5 363.4 423.5 486.2

187.0 218.1 247.4 286.9 326.2

120.7 141.2 162.2 188.9 224.6

22.2 21.6 22.9 25.6 26.0

16.4 17.0 17.5 18.5 18.5

43.6 54.6 61.6 71.4 74.4

5.4 5.9 5.9 7.0 9.3

38.2 48.7 55.7 64.4 65.1

87.5 99.1 110.3 127.9 148.9

4.9 5.9 6.7 8.5 10.7

4.3 5.2 5.8 7.4 9.2

0.6 0.7 0.9 1.1 1.5

1.5 1.6 1.9 2.4 2.8

-3.6 -2.2 -2.9 -2.1 -2.3

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

532.1 619.4 616.6 642.3 709.0

355.9 408.1 386.8 393.6 425.7

250.0 290.6 295.0 286.2 301.4

34.0 50.3 41.4 44.8 47.8

26.9 41.7 32.8 35.7 35.9

70.3 65.7 49.0 61.3 75.2

11.7 14.0 15.2 14.2 16.1

58.6 51.7 33.8 47.1 59.2

162.6 191.8 204.9 221.8 252.8

13.7 18.3 22.2 23.8 26.6

11.3 14.8 18.3 20.4 22.8

2.3 3.5 3.8 3.5 3.9

3.5 3.8 5.2 6.0 7.3

-3.6 -2.5 -2.4 -2.9 -3.4

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

773.3 815.2 896.6 958.2 1 037.4

460.6 479.6 544.0 566.7 621.7

336.0 350.1 392.5 402.9 451.5

46.4 44.0 46.3 50.3 50.2

34.3 30.3 30.7 33.9 32.7

76.3 83.8 103.2 111.1 117.2

17.8 17.8 17.7 17.4 21.6

58.5 66.0 85.4 93.8 95.6

276.5 297.5 315.9 353.1 376.3

29.1 31.4 27.9 30.0 28.6

25.7 29.0 25.6 28.0 26.5

3.5 2.4 2.3 2.0 2.1

9.4 8.2 10.7 10.8 12.4

-2.4 -1.5 -2.0 -2.3 -1.6

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

1 081.5 1 101.3 1 147.2 1 222.5 1 320.8

642.8 636.1 660.4 713.4 781.9

470.2 461.3 475.3 505.5 542.7

51.4 62.2 63.7 66.7 79.4

33.9 45.3 45.4 46.9 57.9

118.1 109.9 118.8 138.5 156.7

23.6 20.8 16.8 16.0 20.5

94.5 89.2 102.0 122.5 136.3

400.1 418.6 441.8 463.6 493.7

30.2 30.1 25.7 26.2 23.4

27.6 27.4 23.1 23.5 20.6

2.6 2.8 2.6 2.7 2.7

13.5 17.9 19.4 21.1 22.3

-5.1 -1.4 -0.1 -1.8 -0.4

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

1 406.5 1 524.0 1 653.1 1 773.8 1 891.2

845.1 932.4 1 030.6 1 116.8 1 195.7

586.0 663.4 744.3 825.8 893.0

75.9 73.2 78.2 81.1 83.9

56.1 54.0 58.6 61.5 64.7

179.3 190.6 203.0 204.2 213.0

23.4 20.1 20.7 26.6 25.4

155.9 170.5 182.3 177.7 187.6

519.2 542.8 576.4 613.8 651.6

23.7 26.9 25.9 21.5 21.5

21.2 23.0 21.4 17.7 18.0

2.5 4.0 4.5 3.8 3.5

19.1 23.1 19.9 21.5 22.7

-0.6 -1.2 0.3 0.1 -0.3

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

2 053.8 2 016.2 1 853.2 1 868.6 1 974.8

1 313.6 1 252.2 1 075.5 1 059.2 1 122.4

999.1 994.5 830.5 774.3 801.8

87.8 85.8 87.3 89.7 94.0

66.7 65.2 67.4 68.3 70.7

219.4 164.7 150.5 186.7 217.4

25.3 27.1 24.5 22.0 18.1

194.1 137.6 126.0 164.7 199.3

691.7 717.5 734.3 759.1 802.5

25.2 24.9 20.2 22.7 21.9

20.1 18.4 15.4 16.2 15.3

5.1 6.5 4.9 6.5 6.6

25.7 27.1 24.8 25.7 28.6

-2.3 -5.5 -1.6 1.9 -0.5

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 845.9 1 854.1 1 856.1 1 856.6

1 071.3 1 077.5 1 075.4 1 078.0

843.1 835.2 825.8 818.0

84.9 87.7 88.5 88.0

66.3 68.0 67.9 67.2

136.3 147.4 153.9 164.2

25.0 25.3 24.4 23.2

111.3 122.1 129.5 141.0

732.1 735.5 735.0 734.4

21.1 20.1 19.8 19.9

15.8 15.0 15.2 15.5

5.3 5.1 4.7 4.4

25.7 24.9 24.5 24.0

-4.3 -3.9 1.4 0.3

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 881.4 1 896.3 1 808.9 1 887.9

1 084.4 1 089.6 994.5 1 068.2

806.7 811.2 708.8 770.6

90.1 89.7 88.8 90.2

68.6 68.5 67.4 68.6

180.7 178.8 189.1 198.1

23.9 22.7 21.2 20.2

156.7 156.1 167.9 177.9

749.0 756.4 762.9 768.0

19.5 22.8 24.0 24.6

14.8 16.4 16.7 17.0

4.7 6.4 7.3 7.6

24.8 25.5 26.2 26.5

3.7 2.1 1.4 0.6

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 917.8 1 951.4 1 975.4 2 054.6

1 080.7 1 108.1 1 119.4 1 181.3

771.3 786.3 810.0 839.7

93.4 93.4 94.0 95.1

71.0 70.4 70.7 70.7

206.9 219.9 207.5 235.3

17.3 17.2 18.0 19.9

189.7 202.7 189.5 215.4

787.2 793.5 806.0 823.4

22.0 21.5 21.8 22.2

15.0 15.0 15.5 15.6

6.9 6.5 6.3 6.6

27.6 28.1 28.7 30.0

0.3 0.3 -0.4 -2.3

1Includes components not shown separately.

. . . = Not available.

115

CHAPTER 6: GOVERNMENT Table 6-1. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 3.2 Current expenditures 1 Government social benefits Year and quarter Total

Consumption expenditures

Total 1

To persons

Net federal government saving, NIPA (surplus + / deficit -)

Other current transfer payments

Total 1

Grants-inaid to state and local governments

Interest payments

Total

To persons To the rest and of the world business

Subsidies

Total

Social insurance funds

Other

1946 1947 1948 1949

........................... ........................... ........................... ...........................

44.5 37.6 38.8 43.5

27.0 20.9 21.2 23.3

8.7 8.4 7.2 8.2

8.7 8.4 7.2 8.2

3.3 3.6 5.6 7.0

1.0 1.6 1.7 1.9

4.0 4.1 4.2 4.3

... ... ... ...

0.0 0.0 0.0 0.0

1.6 0.6 0.6 0.7

-5.0 5.3 3.6 -5.7

3.2 3.2 2.4 1.5

-8.2 2.1 1.2 -7.2

1950 1951 1952 1953 1954

........................... ........................... ........................... ........................... ...........................

43.3 53.3 62.1 66.8 64.2

22.1 34.4 44.2 48.3 43.9

10.2 7.9 8.1 8.7 10.7

10.2 7.9 8.1 8.7 10.7

5.5 5.2 4.3 4.3 4.1

1.9 2.0 2.2 2.3 2.3

4.5 4.6 4.6 4.7 4.8

... ... ... ... ...

0.0 0.0 0.1 0.1 0.1

1.0 1.2 0.9 0.7 0.6

5.5 9.6 3.7 1.8 -1.6

-0.3 2.6 2.6 2.1 1.2

5.8 7.0 1.1 -0.3 -2.8

1955 1956 1957 1958 1959

........................... ........................... ........................... ........................... ...........................

65.3 68.3 76.0 81.4 83.6

43.9 45.1 49.5 50.9 50.0

11.5 12.3 14.5 18.2 18.6

11.5 12.3 14.5 18.2 18.6

4.5 4.4 4.7 5.2 7.6

2.4 2.5 2.9 3.3 3.8

4.8 5.2 5.7 5.4 6.3

... ... ... ... ...

0.1 0.2 0.2 0.1 0.3

0.6 1.2 1.6 1.8 1.1

5.7 7.6 3.3 -5.4 3.3

1.5 1.7 1.1 -2.7 -0.7

4.2 5.9 2.2 -2.7 4.0

1960 1961 1962 1963 1964

........................... ........................... ........................... ........................... ...........................

86.7 92.8 101.1 106.4 110.8

49.8 51.6 57.8 60.8 62.8

20.1 23.3 23.7 24.9 25.4

19.9 23.1 23.5 24.6 25.2

7.4 8.0 8.6 9.2 9.8

4.0 4.5 5.0 5.6 6.5

8.4 7.9 8.6 9.3 10.0

8.0 7.6 8.3 8.9 9.6

0.3 0.3 0.3 0.4 0.5

1.1 2.0 2.3 2.2 2.7

7.2 2.6 2.5 5.4 1.0

0.4 -2.3 -0.6 0.8 1.3

6.8 5.0 3.1 4.5 -0.2

1965 1966 1967 1968 1969

........................... ........................... ........................... ........................... ...........................

117.6 135.7 156.2 173.5 183.8

65.7 75.9 87.1 95.4 98.4

27.6 30.2 36.9 42.2 46.1

27.3 29.9 36.5 41.9 45.8

10.7 14.0 15.7 17.1 19.0

7.2 10.1 11.7 12.7 14.6

10.6 11.6 12.7 14.6 15.8

10.1 11.1 12.1 13.9 15.0

0.5 0.5 0.6 0.7 0.8

3.0 3.9 3.8 4.1 4.5

3.3 2.3 -9.4 -2.3 8.7

0.5 6.0 4.1 3.2 5.7

2.9 -3.7 -13.5 -5.5 3.0

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

201.1 220.0 244.4 261.7 293.3

98.6 102.0 107.7 108.9 118.0

56.1 66.6 73.3 85.2 103.9

55.6 66.1 72.9 84.5 103.3

23.9 29.0 38.6 39.7 41.8

19.3 23.2 31.7 34.8 36.3

17.7 17.9 18.8 22.8 26.0

16.7 16.1 16.1 19.0 21.7

1.0 1.8 2.7 3.8 4.3

4.8 4.6 6.6 5.1 3.2

-15.2 -28.4 -24.4 -11.3 -13.8

1.0 -3.0 -0.6 5.8 3.2

-16.2 -25.3 -23.8 -17.1 -17.0

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

346.2 374.3 407.5 450.0 497.5

129.6 137.2 150.7 163.3 179.0

133.0 143.9 152.9 163.3 183.7

132.3 143.1 152.1 162.4 182.8

50.5 54.6 60.0 69.4 70.8

45.1 50.7 56.6 65.5 66.3

28.9 33.8 37.1 45.3 55.7

24.4 29.3 31.6 36.7 44.6

4.5 4.5 5.5 8.7 11.1

4.3 4.9 6.9 8.7 8.2

-69.0 -51.7 -44.1 -26.5 -11.3

-16.2 -15.6 -13.8 -4.6 0.2

-52.9 -36.1 -30.2 -21.9 -11.4

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

585.7 672.7 748.5 815.4 877.1

207.5 238.3 263.3 286.5 310.0

220.7 251.4 282.4 304.3 310.5

219.6 250.1 281.2 303.0 309.2

78.4 78.2 76.4 78.7 86.0

72.3 72.5 69.5 71.6 76.7

69.7 93.9 111.8 124.6 150.3

57.0 76.6 92.5 105.6 129.1

12.7 17.3 19.3 19.0 21.2

9.4 11.1 14.5 20.8 20.6

-53.6 -53.3 -131.9 -173.0 -168.1

-15.5 -13.8 -33.8 -37.3 -8.7

-38.1 -39.5 -98.1 -135.7 -159.4

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

948.2 1 006.0 1 041.6 1 092.7 1 167.5

338.4 358.2 374.3 382.5 399.2

326.6 345.3 358.2 379.1 412.2

325.4 343.7 356.7 377.5 410.6

92.7 99.9 94.7 102.8 109.8

80.9 87.6 83.9 91.6 98.3

169.4 178.2 184.6 199.3 219.3

146.3 153.5 158.4 167.6 181.0

23.1 24.6 26.2 31.7 38.4

20.9 24.5 29.9 29.0 26.8

-175.0 -190.8 -145.0 -134.5 -130.1

1.7 6.4 15.2 39.7 43.1

-176.7 -197.2 -160.2 -174.1 -173.2

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

1 253.5 1 315.0 1 444.6 1 496.0 1 533.1

419.8 439.5 445.2 441.9 440.8

447.2 494.2 551.7 582.4 607.6

445.4 492.0 549.8 580.5 605.5

122.7 103.5 167.0 182.3 191.6

111.4 131.6 149.1 163.7 174.7

237.5 250.9 251.3 253.4 261.3

196.7 210.1 212.2 214.0 217.1

40.8 40.9 39.1 39.4 44.2

26.4 26.9 29.5 36.0 31.8

-172.0 -213.7 -297.4 -273.5 -212.3

43.0 25.7 6.5 5.6 17.9

-215.0 -239.4 -303.9 -279.1 -230.3

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

1 603.5 1 665.8 1 708.9 1 734.9 1 787.6

440.5 446.3 457.7 454.6 475.1

642.7 680.0 706.3 719.2 738.0

640.8 677.9 704.2 716.9 735.7

196.3 208.2 212.5 227.4 248.0

184.1 191.2 198.6 212.8 232.9

290.4 297.3 300.0 298.8 282.7

236.6 232.0 221.3 219.6 208.1

53.8 65.3 78.6 79.3 74.5

33.7 34.0 32.4 35.0 43.8

-197.0 -141.8 -55.8 38.8 103.6

19.0 13.9 30.6 59.0 94.1

-216.0 -155.7 -86.4 -20.2 9.6

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

1 864.4 1 969.5 2 101.1 2 251.4 2 381.3

499.3 531.9 591.5 661.9 725.7

772.5 841.4 919.6 965.0 1 017.1

770.0 838.7 916.9 962.2 1 014.0

265.6 290.0 323.4 362.7 374.1

247.3 276.1 304.6 339.1 348.3

283.3 258.6 229.1 215.2 221.5

200.3 176.2 152.4 141.7 131.7

83.0 82.4 76.6 73.5 89.7

43.8 47.6 37.5 46.5 43.0

189.5 46.7 -247.9 -382.7 -406.5

112.3 87.0 48.9 40.8 52.1

77.1 -40.3 -296.8 -423.5 -458.6

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 054.4 2 095.5 2 103.4 2 151.1

571.3 585.0 591.4 618.5

896.4 922.8 927.0 932.2

893.7 920.1 924.3 929.5

318.7 317.9 320.6 336.3

291.4 303.1 306.6 317.2

229.9 233.3 227.7 225.4

150.8 155.6 151.8 151.5

79.1 77.7 76.0 73.9

38.1 36.5 36.7 38.7

-208.5 -241.4 -247.3 -294.6

64.9 46.1 44.0 40.6

-273.4 -287.5 -291.3 -335.1

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 177.4 2 270.1 2 265.1 2 292.9

634.7 667.6 668.4 676.8

946.7 962.3 971.1 980.1

943.9 959.5 968.2 977.2

338.3 369.8 368.0 374.7

313.2 344.6 344.4 354.0

217.0 214.9 212.2 216.8

144.7 143.6 138.5 140.3

72.3 71.3 73.7 76.6

42.0 54.2 45.5 44.4

-296.0 -373.8 -456.2 -405.0

45.4 39.6 39.6 38.4

-341.4 -413.5 -495.7 -443.4

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 347.2 2 364.9 2 387.0 2 426.2

710.7 721.1 735.7 735.1

1 003.2 1 010.3 1 019.9 1 034.9

1 000.2 1 007.3 1 017.0 1 031.7

376.1 372.3 364.1 384.1

342.6 349.9 341.9 358.7

216.9 218.4 224.5 226.1

136.2 130.4 131.4 128.9

80.7 88.0 93.1 97.2

41.8 41.3 42.8 46.1

-429.3 -413.4 -411.6 -371.6

45.0 47.8 54.3 61.5

-474.3 -461.2 -465.9 -433.2

1Includes components not shown separately.

. . . = Not available.

116

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-2. Federal Government Consumption Expenditures and Gross Investment (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Tables 3.9.5, 3.10.5 Federal government consumption expenditures and gross investment Consumption expenditures Year and quarter Total Total

Gross investment

Compen- ConsumpLess: Intersation of tion of own-account mediate general general investment goods and governgovernand sales to services ment ment fixed other purchased 1 employees capital sectors

National defense

Structures

Equipment and software

Total Total

Nondefense

Total

Structures

Equipment and software

1946 1947 1948 1949

............................. ............................. ............................. .............................

28.9 22.7 24.2 27.7

27.0 20.9 21.2 23.3

16.2 10.3 9.6 10.7

9.3 8.8 7.6 6.6

5.3 2.5 4.6 6.4

3.7 0.6 0.5 0.3

1.9 1.8 3.0 4.4

1.5 0.9 2.0 2.9

0.3 0.2 0.4 0.4

1.2 0.8 1.6 2.6

0.4 0.8 1.0 1.4

0.0 0.3 0.7 1.1

0.4 0.5 0.4 0.3

1950 1951 1952 1953 1954

............................. ............................. ............................. ............................. .............................

26.0 45.1 59.2 64.4 57.3

22.1 34.4 44.2 48.3 43.9

11.1 16.6 19.3 19.1 18.3

5.8 6.1 6.8 7.6 8.2

5.7 12.6 18.7 22.3 18.1

0.4 0.9 0.6 0.6 0.7

3.9 10.7 15.0 16.1 13.3

2.4 9.1 13.4 14.7 12.1

0.5 2.0 3.3 3.3 2.7

1.9 7.1 10.1 11.4 9.4

1.6 1.5 1.6 1.4 1.2

1.2 1.1 1.1 1.1 0.9

0.4 0.4 0.5 0.3 0.3

1955 1956 1957 1958 1959

............................. ............................. ............................. ............................. .............................

54.9 56.7 61.3 63.8 65.4

43.9 45.1 49.5 50.9 50.0

19.0 19.6 20.2 21.3 21.7

8.6 9.2 9.7 9.8 10.1

17.7 17.1 20.8 21.1 19.3

1.3 0.8 1.3 1.3 1.2

10.9 11.6 11.9 12.9 15.4

10.1 10.5 10.5 11.3 13.7

2.1 2.1 2.3 2.6 2.5

8.0 8.4 8.2 8.7 11.2

0.9 1.2 1.4 1.6 1.7

0.6 0.9 1.1 1.4 1.5

0.2 0.3 0.2 0.2 0.2

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

64.1 67.9 75.3 76.9 78.5

49.8 51.6 57.8 60.8 62.8

22.6 23.7 25.2 26.5 28.5

10.5 10.7 11.3 11.9 12.2

17.8 18.2 22.4 23.5 23.3

1.1 1.0 1.1 1.2 1.2

14.3 16.3 17.4 16.1 15.6

12.3 13.9 14.5 12.6 11.5

2.2 2.4 2.0 1.6 1.3

10.1 11.5 12.5 11.0 10.2

2.0 2.4 2.9 3.5 4.2

1.7 1.9 2.1 2.3 2.5

0.3 0.6 0.8 1.2 1.6

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

80.4 92.5 104.8 111.4 113.4

65.7 75.9 87.1 95.4 98.4

30.0 34.3 37.9 41.9 44.9

12.5 13.0 13.8 14.5 15.2

24.6 30.3 36.8 40.3 39.8

1.3 1.7 1.3 1.3 1.4

14.7 16.7 17.7 16.0 15.0

10.0 11.8 13.5 12.2 11.3

1.1 1.3 1.2 1.2 1.5

8.9 10.5 12.3 10.9 9.9

4.7 4.9 4.2 3.8 3.6

2.8 2.8 2.2 2.1 1.9

1.9 2.1 1.9 1.7 1.7

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

113.5 113.7 119.7 122.5 134.6

98.6 102.0 107.7 108.9 118.0

48.3 51.7 55.4 57.4 62.0

15.8 16.1 16.2 16.5 17.6

35.9 35.7 38.4 37.7 41.7

1.4 1.5 2.3 2.8 3.4

14.8 11.7 12.0 13.6 16.6

11.1 7.5 7.5 8.7 11.1

1.3 1.8 1.8 2.1 2.2

9.8 5.7 5.7 6.6 8.9

3.8 4.2 4.5 4.9 5.6

2.1 2.5 2.7 3.1 3.4

1.7 1.7 1.8 1.8 2.2

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

149.1 159.7 175.4 190.9 210.6

129.6 137.2 150.7 163.3 179.0

68.4 73.3 79.9 85.8 91.8

19.0 20.5 22.1 24.0 25.8

45.2 46.2 52.4 58.2 66.9

3.0 2.8 3.8 4.5 5.6

19.5 22.6 24.7 27.6 31.6

13.0 15.3 16.7 17.8 21.4

2.3 2.1 2.4 2.5 2.5

10.7 13.2 14.4 15.3 18.9

6.5 7.3 8.0 9.8 10.2

4.1 4.6 5.0 6.1 6.3

2.4 2.7 3.0 3.7 4.0

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

243.8 280.2 310.8 342.9 374.4

207.5 238.3 263.3 286.5 310.0

102.5 115.1 125.3 132.3 149.4

28.7 32.3 36.0 39.0 42.8

82.3 97.0 108.2 121.3 124.5

6.2 6.2 6.1 6.1 6.7

36.3 41.9 47.5 56.4 64.4

24.3 28.9 34.7 41.9 48.7

3.2 3.2 4.0 4.8 4.9

21.1 25.7 30.8 37.1 43.8

12.0 13.0 12.7 14.5 15.7

7.1 7.7 6.8 6.7 7.0

4.9 5.3 6.0 7.8 8.7

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

412.8 438.6 460.1 462.3 482.2

338.4 358.2 374.3 382.5 399.2

159.0 163.1 170.3 178.0 185.7

46.1 49.6 53.1 56.9 60.9

140.2 152.4 158.7 156.4 162.1

6.9 6.9 7.9 8.7 9.4

74.4 80.4 85.8 79.8 83.0

57.5 62.9 66.4 61.3 62.7

6.2 6.8 7.7 7.4 6.4

51.3 56.1 58.8 53.9 56.3

16.9 17.5 19.4 18.6 20.3

7.3 8.0 9.0 6.8 6.9

9.6 9.5 10.4 11.7 13.4

1990 1991 1992 1993 1994

............................. ............................. ............................. ............................. .............................

508.3 527.7 533.9 525.2 519.1

419.8 439.5 445.2 441.9 440.8

193.9 205.9 210.7 211.9 209.8

65.1 69.1 71.4 74.4 76.4

171.2 175.9 174.3 166.6 167.6

10.3 11.3 11.3 11.0 13.0

88.5 88.2 88.8 83.3 78.3

65.9 63.4 61.6 55.2 52.9

6.1 4.6 5.2 5.1 5.7

59.8 58.8 56.3 50.1 47.2

22.6 24.8 27.2 28.1 25.4

8.0 9.2 10.3 11.2 10.5

14.6 15.7 16.9 16.9 14.9

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

519.2 527.4 530.9 530.4 555.8

440.5 446.3 457.7 454.6 475.1

206.8 210.7 212.9 215.1 221.3

77.9 78.0 78.0 78.0 79.6

166.4 168.8 175.9 171.5 182.7

10.6 11.1 9.1 9.9 8.5

78.8 81.1 73.2 75.8 80.7

51.4 52.1 44.9 45.0 47.7

6.3 6.7 5.7 5.1 5.0

45.1 45.4 39.2 39.9 42.8

27.3 29.1 28.3 30.8 33.0

10.8 11.2 9.8 10.6 10.6

16.5 17.9 18.5 20.2 22.4

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

578.8 612.9 679.7 754.8 827.6

499.3 531.9 591.5 661.9 725.7

233.8 242.9 269.4 297.7 319.8

81.6 82.8 83.5 84.9 88.4

193.8 215.3 248.0 289.2 327.9

9.8 9.1 9.4 9.9 10.5

79.5 81.0 88.1 92.9 101.9

48.8 50.2 55.4 60.1 68.5

5.0 4.6 4.4 5.1 5.1

43.8 45.6 51.0 55.0 63.4

30.7 30.8 32.7 32.8 33.4

8.3 8.3 9.9 10.3 9.4

22.3 22.5 22.8 22.6 24.0

2002 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

654.9 675.2 682.0 706.6

571.3 585.0 591.4 618.5

266.2 267.8 268.3 275.1

83.2 83.2 83.5 84.1

231.5 242.0 250.3 268.0

9.7 8.1 10.8 8.7

83.6 90.2 90.6 88.1

51.4 55.7 58.3 56.3

4.2 4.4 4.5 4.6

47.3 51.3 53.7 51.7

32.1 34.5 32.3 31.8

9.7 9.7 9.8 10.3

22.5 24.8 22.5 21.5

2003 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

724.0 763.4 761.8 770.0

634.7 667.6 668.4 676.8

293.1 298.1 299.3 300.2

84.2 85.0 85.1 85.3

266.2 295.4 294.3 300.8

8.8 10.9 10.3 9.4

89.3 95.9 93.4 93.1

57.3 60.2 61.0 61.9

4.7 5.0 5.5 5.3

52.6 55.2 55.5 56.6

32.0 35.7 32.4 31.2

10.2 10.9 10.6 9.3

21.8 24.7 21.9 21.9

2004 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

808.3 824.6 836.5 840.8

710.7 721.1 735.7 735.1

316.9 319.1 320.6 322.7

86.4 88.0 88.8 90.4

316.5 323.7 338.5 333.1

9.2 9.7 12.1 11.0

97.7 103.5 100.8 105.7

66.2 67.6 68.3 71.9

5.1 4.7 5.2 5.2

61.1 62.9 63.1 66.7

31.5 35.9 32.5 33.8

9.1 9.6 9.5 9.6

22.4 26.4 23.0 24.2

1Includes

general government intermediate inputs for goods and services sold to other sectors and for own-account investment.

CHAPTER 6: GOVERNMENT

117

Table 6-3. Federal Government Defense and Nondefense Consumption Expenditures by Type (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.10.5 Defense consumption expenditures Year and quarter Total

CompenConsumption sation of of general general government government fixed capital employees

1

Nondefense consumption expenditures 1

Intermediate goods and services purchased 2

CompenConsumption sation of of general general government government fixed capital employees

Total Durable goods

Nondurable goods

Services

Intermediate goods and services purchased 2 Durable goods

Nondurable goods

Services

1946 1947 1948 1949

............................. ............................. ............................. .............................

23.7 17.3 16.3 16.9

14.1 7.8 6.9 7.8

8.8 8.2 7.0 6.0

0.5 0.3 0.8 1.0

0.7 0.3 0.7 0.8

2.2 0.7 1.1 1.5

3.3 3.6 4.9 6.4

2.1 2.5 2.6 2.9

0.5 0.6 0.6 0.6

0.1 0.1 0.1 0.1

0.4 0.4 0.8 2.1

1.2 0.7 1.1 1.0

1950 1951 1952 1953 1954

............................. ............................. ............................. ............................. .............................

17.2 30.1 38.9 41.2 37.1

8.0 13.5 16.1 16.0 15.4

5.2 5.4 6.2 6.9 7.6

1.7 4.4 8.0 9.1 6.8

0.9 2.3 2.8 4.2 3.2

1.5 5.0 6.1 5.1 4.2

4.9 4.3 5.3 7.1 6.9

3.1 3.1 3.2 3.1 2.9

0.6 0.6 0.6 0.6 0.6

0.1 0.1 0.1 0.1 0.1

0.5 0.1 0.5 2.4 2.2

0.9 0.7 1.3 1.3 1.4

1955 1956 1957 1958 1959

............................. ............................. ............................. ............................. .............................

36.9 38.8 43.2 44.1 40.1

15.8 16.1 16.5 17.0 17.3

8.0 8.5 9.0 9.1 9.5

6.0 6.1 6.7 7.1 5.1

1.7 1.7 2.2 2.1 1.8

5.9 6.7 9.3 9.5 6.9

7.1 6.3 6.3 6.8 9.8

3.2 3.5 3.7 4.3 4.4

0.6 0.6 0.6 0.7 0.7

0.1 0.1 0.1 0.0 0.0

2.5 0.8 0.8 0.7 3.3

1.6 1.7 1.8 1.7 2.1

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

41.0 42.7 46.6 48.3 48.8

17.7 18.3 19.4 20.1 21.6

9.8 10.0 10.6 11.1 11.2

4.4 3.6 4.6 4.7 4.0

1.9 2.3 2.9 2.7 2.9

7.7 8.8 9.6 10.2 9.7

8.7 9.0 11.3 12.4 14.0

5.0 5.4 5.8 6.4 7.0

0.7 0.7 0.8 0.9 1.0

0.1 0.1 0.2 0.3 0.4

1.1 0.4 1.5 1.2 1.1

2.5 3.0 3.6 4.5 5.3

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

50.6 60.0 70.0 77.2 78.2

22.6 26.3 29.3 32.4 34.7

11.3 11.6 12.1 12.7 13.2

4.2 6.2 6.2 7.5 6.5

3.2 4.7 7.3 8.4 7.6

9.9 12.2 15.5 16.4 16.5

15.1 15.9 17.1 18.3 20.2

7.4 8.0 8.6 9.5 10.1

1.2 1.5 1.7 1.8 2.0

0.5 0.5 0.4 0.4 0.3

1.1 0.4 1.2 1.9 3.0

5.7 6.4 6.2 5.7 5.9

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

76.6 77.1 79.5 79.4 84.5

36.6 38.2 40.5 41.4 44.1

13.6 13.8 13.8 14.0 14.7

6.1 4.6 5.7 5.5 5.2

5.4 4.4 4.7 4.3 5.2

15.2 16.3 15.5 15.3 16.9

22.1 24.9 28.2 29.4 33.4

11.7 13.4 14.8 16.0 18.0

2.1 2.3 2.4 2.5 2.8

0.3 0.3 0.3 0.2 0.2

2.0 2.1 2.4 1.9 2.6

7.1 8.1 9.9 10.4 11.7

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

90.9 95.8 104.2 112.7 123.8

47.9 50.3 53.6 57.5 61.7

15.7 17.1 18.4 20.0 21.3

6.0 5.8 8.0 9.6 11.3

5.1 4.5 4.5 4.9 6.2

17.4 18.8 20.4 21.7 24.2

38.7 41.4 46.5 50.6 55.1

20.5 23.1 26.3 28.3 30.1

3.2 3.4 3.7 4.0 4.5

0.2 0.3 0.3 0.4 0.5

2.8 3.5 4.4 4.9 5.2

13.7 13.3 14.7 16.7 19.4

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

143.7 167.3 191.2 208.8 232.9

68.6 78.8 87.4 92.4 107.5

23.5 26.3 29.2 31.7 34.8

12.8 16.2 19.6 25.1 27.1

10.0 11.8 11.5 11.3 10.4

30.2 35.8 45.4 49.5 54.7

63.8 71.0 72.1 77.7 77.1

34.0 36.3 37.9 39.9 41.8

5.2 6.0 6.7 7.3 7.9

0.7 0.6 0.6 0.9 0.9

7.4 11.2 9.1 10.6 6.4

21.3 21.4 22.1 23.9 24.9

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

253.7 268.0 283.6 293.6 299.5

115.3 118.8 123.5 126.9 131.7

37.5 40.2 43.0 46.0 49.1

29.3 31.9 33.8 33.5 32.0

10.0 10.2 10.3 10.6 10.8

63.4 68.7 75.1 79.0 78.3

84.7 90.3 90.6 88.9 99.7

43.6 44.3 46.8 51.1 54.0

8.7 9.3 10.1 10.9 11.8

1.0 1.0 1.1 1.2 1.3

9.5 12.4 6.9 -0.1 5.7

27.1 28.2 31.6 32.2 33.9

1990 1991 1992 1993 1994

............................. ............................. ............................. ............................. .............................

308.1 319.8 315.3 307.6 300.7

134.5 141.8 143.0 138.7 134.7

52.4 55.5 57.3 59.5 61.0

31.6 31.0 28.4 26.4 22.9

11.0 10.7 9.4 8.5 7.6

81.8 84.3 81.3 78.8 80.5

111.7 119.7 129.8 134.2 140.1

59.3 64.0 67.7 73.3 75.1

12.7 13.6 14.2 14.8 15.3

1.5 1.6 1.7 1.6 1.6

5.7 6.3 6.9 7.4 7.0

39.6 42.1 46.7 43.9 48.1

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

297.3 302.5 304.7 300.7 312.9

130.8 133.3 132.8 131.6 133.5

61.8 61.2 60.4 59.6 59.8

20.9 20.8 20.9 21.0 22.3

6.3 7.6 7.6 7.0 8.2

81.1 83.6 86.5 84.7 92.2

143.2 143.8 153.0 153.9 162.2

76.0 77.3 80.1 83.5 87.8

16.1 16.7 17.6 18.4 19.8

1.7 1.8 1.8 1.7 1.7

7.3 7.2 8.2 8.2 6.7

49.1 47.8 51.0 49.0 51.6

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

321.5 342.4 381.7 436.6 484.2

138.9 145.7 163.1 183.0 198.2

60.2 60.4 60.5 61.6 64.5

22.3 22.5 23.4 25.5 28.8

10.4 10.3 11.5 13.1 15.0

92.7 107.2 127.4 157.9 182.2

177.8 189.5 209.9 225.3 241.4

94.8 97.2 106.3 114.6 121.7

21.4 22.4 22.9 23.3 23.9

1.8 1.9 2.2 2.1 2.4

8.5 9.9 11.3 12.7 14.2

58.1 63.6 72.2 77.9 85.2

2002 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

366.8 375.4 379.8 404.8

160.2 162.1 162.5 167.4

60.4 60.3 60.5 60.9

22.1 23.3 24.9 23.3

10.2 11.6 11.3 13.0

117.5 121.3 126.7 144.2

204.5 209.6 211.6 213.7

106.0 105.7 105.8 107.7

22.8 22.9 23.0 23.1

2.1 2.1 2.2 2.2

10.4 12.1 11.5 11.1

69.1 71.5 73.8 74.2

2003 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

409.9 447.0 439.4 450.0

179.4 183.1 184.3 185.3

61.0 61.7 61.8 61.8

22.9 26.8 26.1 26.0

15.0 14.0 11.2 12.1

135.8 166.3 160.9 168.8

224.9 220.6 229.0 226.8

113.8 115.1 114.9 114.8

23.2 23.3 23.3 23.5

2.1 2.1 2.1 2.1

10.9 12.6 13.4 13.9

79.5 73.5 80.5 77.9

2004 1st quarter ................ 2nd quarter ............... 3rd quarter ................ 4th quarter ................

472.5 479.6 494.6 490.1

195.7 197.0 199.5 200.4

62.8 64.2 64.8 66.2

26.9 29.1 29.3 30.0

13.9 14.5 16.3 15.4

177.3 179.2 190.4 182.2

238.1 241.5 241.1 245.1

121.3 122.1 121.1 122.2

23.6 23.8 24.0 24.2

2.2 2.4 2.4 2.6

13.8 14.3 13.2 15.5

82.4 84.1 86.9 87.4

1Excludes government sales to other sectors and government own-account investment (construction and software). 2Includes general government intermediate inputs for goods and services sold to other sectors and for own-account

investment.

118

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-4. National Defense Consumption Expenditures and Gross Investment: Selected Detail (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.11.5 Consumption expenditures

Year and quarter

Compensation of general government employees

Military

Civilian

Intermediate goods and services purchased 1 Durable goods Aircraft

Nondurable goods

Gross investment

Services

Equipment and software

Petroleum products

Ammunition

Research and development

Installation support

Weapons support

Personnel support

Aircraft

Missiles

Ships

Electronics and software

1972 ................................. 1973 ................................. 1974 .................................

27.0 27.6 29.1

13.5 13.8 15.0

2.7 2.4 2.0

1.8 1.7 2.8

2.0 1.7 1.4

5.1 5.3 5.7

4.4 4.3 4.7

1.6 1.6 1.8

1.7 1.5 1.8

2.6 2.3 2.3

1.5 1.5 1.7

1.8 1.6 2.2

0.8 0.9 1.0

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

31.1 32.4 34.0 36.2 38.7

16.8 17.8 19.7 21.3 22.9

2.1 2.0 3.3 3.5 4.8

2.9 2.5 2.4 2.5 3.6

1.1 0.6 0.8 1.0 1.2

5.9 6.4 6.8 7.1 7.7

4.9 5.4 6.2 6.3 7.3

1.7 1.9 2.1 2.4 2.9

2.1 2.3 2.2 2.6 2.7

3.6 3.4 3.7 3.7 4.8

1.3 1.4 1.2 1.1 1.8

2.2 2.4 3.1 3.9 4.3

1.2 1.3 1.5 1.8 2.1

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

43.5 50.5 56.6 59.8 72.8

25.1 28.3 30.8 32.7 34.8

5.6 7.8 10.2 13.6 14.0

6.8 7.7 6.8 6.4 5.9

1.4 1.6 2.1 2.5 2.2

10.2 12.4 14.1 14.5 16.2

8.5 9.3 13.7 15.5 17.0

4.4 5.2 6.0 7.3 8.6

3.0 4.0 5.8 6.4 6.7

6.1 7.5 8.4 10.1 10.9

2.3 2.8 3.4 4.6 5.7

4.1 5.1 6.2 7.1 8.0

2.6 3.2 3.8 4.6 5.6

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

78.2 80.6 83.7 85.2 87.4

37.2 38.1 39.8 41.7 44.3

15.4 17.2 18.2 17.9 16.4

5.8 3.6 3.9 3.5 4.2

1.3 3.6 2.8 3.5 3.1

21.7 23.8 27.0 31.5 28.6

17.2 18.5 19.1 19.0 19.0

9.8 10.4 11.0 9.8 10.3

8.4 9.4 10.9 11.4 12.4

13.4 17.9 17.6 13.5 12.2

6.6 7.9 8.7 7.8 8.8

9.0 8.9 8.8 8.6 10.0

7.0 7.8 8.7 9.2 9.6

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

89.1 93.8 93.2 88.0 84.3

45.4 48.0 49.8 50.7 50.4

14.8 13.6 12.2 10.7 9.2

5.3 4.7 3.5 3.2 3.0

2.8 2.7 2.6 2.5 1.8

26.1 21.9 23.7 22.9 22.5

22.1 23.8 23.2 25.4 26.3

11.7 10.2 8.5 7.5 8.6

13.0 12.7 14.4 13.7 14.7

12.0 9.2 8.3 9.3 10.5

11.2 10.8 10.6 7.9 5.7

10.8 10.2 10.1 8.7 8.1

9.9 9.7 9.8 9.9 9.3

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

81.3 84.0 83.8 83.4 85.2

49.5 49.4 49.0 48.2 48.3

8.9 8.8 9.4 9.9 10.5

2.8 3.4 2.9 2.1 2.6

1.2 1.4 1.7 1.9 1.9

21.7 24.8 26.3 23.6 26.6

25.8 26.0 25.3 24.7 25.0

9.1 7.2 8.4 8.7 9.3

16.1 17.0 18.5 19.3 22.4

9.0 9.2 5.8 5.8 7.0

4.7 4.1 2.9 3.3 2.8

8.0 6.8 6.1 6.4 6.8

8.8 9.0 9.0 9.1 9.8

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

89.4 95.4 108.6 125.8 134.8

49.5 50.3 54.4 57.2 63.3

9.8 9.8 9.8 10.5 11.5

4.1 4.2 4.6 5.0 5.1

1.8 2.1 2.5 2.6 3.6

26.3 30.6 38.4 47.1 55.3

24.9 27.3 30.7 34.8 37.2

9.6 12.0 13.8 16.6 20.2

22.9 27.5 34.0 43.2 53.0

7.8 8.5 9.4 9.2 12.6

2.7 3.3 3.1 3.3 3.8

6.6 7.2 8.7 9.5 10.1

10.1 9.8 9.9 10.4 11.3

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

84.6 83.9 83.8 82.8

49.6 49.2 48.9 48.5

9.2 10.2 8.5 9.5

3.3 3.0 2.7 2.7

1.9 1.5 1.7 1.7

22.8 28.9 26.0 27.4

25.6 25.5 25.5 24.5

7.7 8.5 8.5 8.8

18.0 19.1 18.5 18.4

4.4 3.6 6.9 8.4

2.7 2.7 3.0 3.0

5.6 6.7 6.4 5.8

9.1 9.1 9.1 8.8

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

83.9 83.4 83.5 82.9

49.0 48.1 48.3 47.4

9.1 9.6 10.0 10.8

2.3 2.1 2.0 1.8

1.6 1.4 2.5 2.0

20.1 24.8 22.6 26.8

24.4 24.7 25.4 24.3

7.5 8.5 8.6 10.0

17.0 19.7 20.2 20.1

4.2 5.0 6.7 7.2

2.9 2.6 4.6 2.9

6.3 6.0 6.5 6.9

9.0 9.3 9.2 9.0

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

85.0 84.7 85.1 85.9

48.2 48.5 48.7 48.0

9.5 10.9 11.5 10.0

1.7 2.4 3.5 2.6

1.7 1.8 2.3 1.8

27.4 21.0 25.6 32.1

24.4 24.7 25.0 26.0

8.2 8.4 9.0 11.4

20.9 20.8 22.4 25.5

5.9 6.7 8.7 6.6

2.8 2.7 2.8 3.1

6.8 6.6 6.5 7.1

8.6 10.2 10.4 9.9

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

88.6 88.7 90.5 90.0

49.4 49.5 49.7 49.5

10.5 9.6 10.2 9.1

4.1 3.6 4.1 4.4

1.6 1.6 2.1 1.9

23.7 27.8 24.1 29.4

23.9 25.2 25.5 25.1

6.8 10.2 10.3 11.0

20.5 24.9 23.8 22.6

9.3 6.9 8.1 6.8

2.3 2.4 2.2 3.9

6.1 6.8 6.7 6.8

9.9 10.2 9.9 10.3

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

94.2 94.3 95.3 97.9

49.3 49.7 50.9 51.2

8.8 9.6 11.2 9.4

4.4 4.2 4.2 4.0

1.9 2.1 2.2 2.1

30.2 30.2 28.9 33.2

27.3 26.3 26.8 28.6

12.3 11.6 10.9 13.3

27.2 25.5 26.8 30.6

6.8 7.0 10.7 9.5

3.6 3.5 3.0 3.1

7.2 7.4 6.9 7.3

9.8 9.8 9.7 9.8

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

106.0 107.5 108.0 113.0

54.2 54.6 54.5 54.4

9.2 9.9 10.2 9.9

3.6 4.5 4.3 5.9

2.4 2.6 2.7 2.4

33.8 36.5 35.7 47.5

29.4 29.6 31.2 32.6

12.5 12.3 14.1 16.1

31.0 32.3 35.2 37.7

7.3 9.4 10.2 10.5

3.4 3.1 2.9 3.1

8.1 8.5 8.9 9.0

9.9 10.0 10.2 9.6

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

122.4 126.7 127.0 127.2

57.0 56.3 57.3 58.2

9.4 11.4 10.4 10.8

8.0 5.6 2.9 3.4

2.1 2.7 2.8 2.9

37.4 54.0 45.0 52.0

32.2 35.6 35.7 35.9

13.5 17.6 17.7 17.6

36.9 43.0 44.9 47.8

9.4 9.1 8.4 10.0

2.7 2.8 3.3 4.3

8.5 10.1 10.1 9.4

10.3 10.1 10.9 10.4

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

133.8 134.3 135.0 136.1

61.9 62.8 64.4 64.3

10.6 11.2 12.1 12.0

4.5 4.6 6.1 5.4

3.4 3.6 3.8 3.8

53.9 54.9 56.6 55.9

37.0 36.6 38.2 36.9

19.4 19.0 22.3 20.0

51.2 51.9 56.0 52.8

12.3 12.4 11.7 13.9

3.7 3.5 4.2 4.0

10.0 9.2 11.5 9.6

10.6 11.9 11.4 11.4

1Includes

general government intermediate inputs for goods and services sold to other sectors and for own-account investment.

119

CHAPTER 6: GOVERNMENT Table 6-5. Federal Government Output, Lending and Borrowing, and Net Investment (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 3.2, 3.10.5 Output Gross

Net lending (net borrowing -)

Value added

Intermediate goods and services purchased 1

Year and quarter Defense

Nondefense

Defense

Nondefense

Defense

Nondefense

Minus Net saving, current (surplus +, deficit -)

Plus: capital transfer receipts

Plus: consumpNet tion of purchases Capital Gross transfer fixed of noninvestment capital payments produced assets

Equals: Net lending (borrowing -)

Net investment

1946 1947 1948 1949

........................... ........................... ........................... ...........................

26.4 17.3 16.4 17.0

4.4 4.3 5.2 6.6

22.9 16.0 13.9 13.8

2.6 3.1 3.2 3.5

3.5 1.3 2.6 3.2

1.8 1.2 2.0 3.2

-5.0 5.3 3.6 -5.7

0.7 0.8 0.9 0.7

1.9 1.8 3.0 4.4

0.1 0.1 0.3 0.4

... ... ... ...

9.3 8.8 7.6 6.6

... ... ... ...

-7.4 -7.0 -4.6 -2.2

1950 1951 1952 1953 1954

........................... ........................... ........................... ........................... ...........................

17.3 30.6 39.1 41.5 37.3

5.3 4.6 5.7 7.5 7.3

13.2 18.9 22.3 23.0 23.0

3.7 3.7 3.8 3.7 3.5

4.1 11.7 16.9 18.5 14.3

1.6 0.9 1.9 3.8 3.8

5.5 9.6 3.7 1.8 -1.6

0.6 0.7 0.8 0.9 0.9

3.9 10.7 15.0 16.1 13.3

0.4 0.4 0.5 0.6 0.6

... ... ... ... ...

5.8 6.1 6.8 7.6 8.3

... ... ... ... ...

-1.9 4.6 8.2 8.5 5.0

1955 1956 1957 1958 1959

........................... ........................... ........................... ........................... ...........................

37.3 39.1 43.7 44.7 40.5

7.9 6.7 7.1 7.4 10.6

23.7 24.7 25.5 26.1 26.7

3.8 4.1 4.4 5.0 5.1

13.6 14.5 18.1 18.6 13.8

4.1 2.6 2.7 2.4 5.5

5.7 7.6 3.3 -5.4 3.3

1.0 1.3 1.4 1.3 1.4

10.9 11.6 11.9 12.9 15.4

0.7 0.8 1.3 2.3 3.1

... ... ... ... ...

8.7 9.3 9.8 9.9 10.2

... ... ... ... ...

2.2 2.3 2.1 3.0 5.2

1960 1961 1962 1963 1964

........................... ........................... ........................... ........................... ...........................

41.5 43.1 47.0 48.7 49.3

9.4 9.6 11.9 13.2 14.8

27.4 28.3 30.0 31.1 32.7

5.6 6.1 6.6 7.3 8.0

14.0 14.7 17.0 17.6 16.5

3.7 3.5 5.3 5.9 6.8

7.2 2.6 2.5 5.4 1.0

1.8 2.0 2.1 2.2 2.6

14.3 16.3 17.4 16.1 15.6

2.6 2.9 3.1 3.6 4.1

0.5 0.5 0.6 0.5 0.6

10.6 10.9 11.5 12.1 12.3

2.1 -4.2 -5.0 -0.5 -4.4

3.7 5.4 5.9 4.0 3.3

1965 1966 1967 1968 1969

........................... ........................... ........................... ........................... ...........................

51.2 60.9 70.4 77.4 78.4

15.9 16.7 18.0 19.3 21.3

33.9 37.9 41.4 45.1 47.9

8.6 9.5 10.2 11.3 12.1

17.3 23.0 29.0 32.3 30.5

7.3 7.2 7.8 8.0 9.2

3.3 2.3 -9.4 -2.3 8.7

2.8 3.0 3.1 3.1 3.6

14.7 16.7 17.7 16.0 15.0

4.0 4.4 4.3 6.0 5.9

0.5 0.6 -0.2 -0.9 0.1

12.7 13.2 14.0 14.8 15.5

-0.4 -3.2 -14.0 -5.4 6.8

2.0 3.5 3.7 1.2 -0.5

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

76.8 77.3 80.2 80.5 86.1

23.2 26.1 29.8 31.2 35.2

50.3 52.0 54.3 55.4 58.8

13.8 15.7 17.2 18.6 20.8

26.6 25.3 25.8 25.1 27.3

9.3 10.4 12.6 12.6 14.4

-15.2 -28.4 -24.4 -11.3 -13.8

3.7 4.6 5.4 5.1 4.8

14.8 11.7 12.0 13.6 16.6

5.3 5.9 6.0 6.0 7.9

-0.3 -0.4 -0.7 -3.2 -5.7

16.1 16.5 16.6 17.1 18.2

-15.2 -24.5 -19.7 -5.5 -9.6

-1.3 -4.8 -4.6 -3.5 -1.6

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

92.1 96.4 105.0 113.6 124.8

40.4 43.6 49.5 54.3 59.7

63.7 67.3 72.1 77.5 83.0

23.7 26.5 30.0 32.3 34.7

28.5 29.1 32.9 36.2 41.8

16.8 17.1 19.5 22.0 25.1

-69.0 -51.7 -44.1 -26.5 -11.3

4.9 5.6 7.2 5.2 5.5

19.5 22.6 24.7 27.6 31.6

9.7 10.6 11.1 11.9 14.4

-0.4 -2.4 -1.4 -0.6 -2.8

19.7 21.4 23.1 25.0 27.0

-73.1 -55.5 -48.3 -35.1 -22.0

-0.2 1.2 1.6 2.6 4.6

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

145.0 168.9 193.1 210.1 234.6

68.6 75.5 76.4 82.5 82.0

92.1 105.1 116.7 124.2 142.4

39.2 42.3 44.6 47.1 49.8

52.9 63.8 76.4 85.9 92.2

29.4 33.2 31.8 35.4 32.2

-53.6 -53.3 -131.9 -173.0 -168.1

6.5 6.9 7.5 5.8 6.0

36.3 41.9 47.5 56.4 64.4

16.6 15.6 14.6 15.5 17.7

-4.0 -5.5 -3.6 -4.9 -3.9

30.1 33.8 37.6 40.8 44.6

-65.9 -64.6 -145.1 -193.5 -195.6

6.2 8.1 9.9 15.6 19.8

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

255.5 269.8 285.8 296.0 302.0

89.8 95.3 96.4 95.3 106.7

152.8 159.0 166.6 172.9 180.8

52.3 53.7 56.8 62.0 65.8

102.7 110.8 119.2 123.1 121.1

37.5 41.6 39.6 33.3 40.9

-175.0 -190.8 -145.0 -134.5 -130.1

6.4 7.0 7.2 7.6 8.9

74.4 80.4 85.8 79.8 83.0

19.4 20.0 19.0 19.6 20.1

-1.1 -3.0 -0.4 -0.1 -0.7

48.1 51.6 55.2 59.3 63.5

-213.2 -229.6 -186.9 -166.9 -160.1

26.3 28.8 30.6 20.5 19.5

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

311.4 323.2 319.4 311.9 306.7

118.7 127.7 137.1 141.0 147.1

186.9 197.3 200.3 198.2 195.7

72.0 77.7 81.8 88.1 90.5

124.5 125.9 119.1 113.7 111.0

46.7 50.0 55.3 52.9 56.7

-172.0 -213.7 -297.4 -273.5 -212.3

11.6 11.0 11.3 12.9 15.1

88.5 88.2 88.8 83.3 78.3

28.1 26.3 22.4 24.5 25.9

-0.7 0.2 0.2 0.2 0.2

67.9 72.2 74.7 77.9 80.2

-208.3 -245.3 -322.9 -290.7 -221.4

20.6 16.0 14.1 5.4 -1.9

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

301.0 306.6 308.1 303.9 315.9

150.2 150.9 158.6 160.7 167.6

192.6 194.6 193.2 191.3 193.3

92.1 94.1 97.7 101.8 107.6

108.3 112.0 115.0 112.6 122.7

58.1 56.8 60.9 58.9 60.0

-197.0 -141.8 -55.8 38.8 103.6

14.9 17.5 20.6 25.2 28.8

78.8 81.1 73.2 75.8 80.7

27.7 28.2 29.1 28.8 36.1

-7.4 -3.8 -7.6 -5.6 -0.9

81.9 82.0 82.5 82.8 84.8

-199.2 -147.8 -47.4 47.8 101.3

-3.1 -0.9 -9.3 -7.0 -4.1

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

324.6 345.9 386.0 441.1 488.8

184.6 195.1 214.9 230.7 247.4

199.2 206.0 223.6 244.6 262.6

116.2 119.6 129.3 138.0 145.6

125.4 139.9 162.4 196.5 226.1

68.4 75.4 85.6 92.7 101.8

189.5 46.7 -247.9 -382.7 -406.5

28.1 28.0 25.3 22.0 24.6

79.5 81.0 88.1 92.9 101.9

36.2 40.8 48.4 62.4 62.6

-0.3 -0.7 0.3 -0.2 0.0

87.2 88.2 88.9 90.3 93.8

189.4 41.8 -270.6 -425.6 -452.6

-7.7 -7.2 -0.8 2.6 8.1

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

370.5 378.8 385.8 408.8

210.5 214.3 216.3 218.4

220.6 222.5 223.0 228.4

128.8 128.6 128.8 130.9

149.9 156.3 162.8 180.5

81.7 85.7 87.5 87.5

-208.5 -241.4 -247.3 -294.6

27.1 25.0 26.4 22.7

83.6 90.2 90.6 88.1

47.0 44.3 43.8 58.6

0.3 0.0 0.6 0.2

88.6 88.6 88.8 89.4

-223.7 -262.3 -267.0 -329.4

-5.0 1.6 1.8 -1.3

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

414.1 451.9 444.3 454.0

229.5 226.6 234.3 232.2

240.4 244.8 246.1 247.2

137.0 138.4 138.2 138.3

173.7 207.2 198.2 206.9

92.5 88.2 96.1 93.9

-296.0 -373.8 -456.2 -405.0

22.9 20.3 20.7 24.0

89.3 95.9 93.4 93.1

54.3 68.8 65.4 60.9

-2.8 -0.7 3.4 -0.7

89.6 90.4 90.5 90.6

-324.3 -427.0 -507.3 -443.8

-0.3 5.5 2.9 2.5

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

476.5 484.1 500.2 494.2

243.2 246.8 247.6 252.0

258.5 261.2 264.3 266.6

144.9 145.9 145.1 146.5

218.1 222.9 236.0 227.6

98.4 100.8 102.5 105.5

-429.3 -413.4 -411.6 -371.6

23.8 24.0 26.8 23.9

97.7 103.5 100.8 105.7

61.4 59.8 67.6 61.8

0.0 -0.7 1.8 -1.0

91.8 93.4 94.2 95.9

-472.8 -458.6 -460.7 -418.2

5.9 10.1 6.6 9.8

1Includes

general government intermediate inputs for goods and services sold to other sectors and for own-account investment. . . . = Not available.

120

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-6. Chain-Type Quantity Indexes for Federal Government Defense and Nondefense Consumption Expenditures and Gross Investment (Index numbers, 2000 = 100.)

NIPA Table 3.9.3, 3.10.3 Defense consumption expenditures

1

Nondefense consumption expenditures 1

Intermediate goods and services purchased 2 Year and quarter Total

Compen- Consumpsation of tion of general general governgovernment ment fixed employees capital

Durable goods

Nondurable goods

Intermediate goods and services purchased 2 Defense gross investment

Total

Services

Compen- Consumpsation of tion of general general governgovernment ment fixed employees capital

Durable goods

Nondefense gross investment

Nondurable goods excluding CCC inventory change

Services

1946 1947 1948 1949

........................... ........................... ........................... ...........................

72.4 49.4 47.2 47.3

159.6 86.9 84.5 89.4

92.7 75.8 61.7 52.3

16.0 8.0 18.5 22.8

64.9 24.1 46.3 55.1

16.8 4.5 6.8 8.9

18.4 9.9 19.3 28.2

17.6 19.0 26.7 32.6

41.9 51.2 57.9 55.1

11.4 11.6 11.8 12.0

17.7 19.5 14.3 12.2

77.5 18.1 34.6 39.7

19.5 8.5 12.0 11.1

6.1 12.2 14.8 19.9

1950 1951 1952 1953 1954

........................... ........................... ........................... ........................... ...........................

48.3 82.1 106.1 110.8 96.5

94.4 163.5 188.2 184.3 172.8

45.7 44.7 49.7 55.5 59.4

39.0 93.4 165.6 185.4 134.9

58.3 153.0 200.0 321.2 211.2

8.6 24.7 33.3 26.8 22.5

22.2 78.8 114.0 127.7 104.1

25.3 21.1 24.8 32.3 31.1

61.3 56.3 55.0 50.4 47.8

12.2 12.4 12.4 12.4 12.4

12.4 12.3 11.3 10.4 11.7

17.8 31.3 19.5 19.5 18.9

10.5 7.7 13.1 13.1 14.2

22.6 20.3 19.7 17.3 15.6

1955 1956 1957 1958 1959

........................... ........................... ........................... ........................... ...........................

90.2 90.4 96.5 94.3 87.2

164.0 159.7 157.5 148.3 144.3

60.6 60.9 61.2 61.2 62.5

114.4 108.2 113.3 117.4 83.9

97.0 95.7 115.7 117.8 98.5

29.4 33.0 44.3 43.6 39.2

84.1 80.5 76.3 81.3 97.0

30.5 26.8 25.9 25.9 37.5

48.4 49.5 50.9 52.5 52.6

12.3 12.1 12.0 12.1 12.0

9.7 9.9 9.1 7.1 5.4

21.8 33.9 46.9 20.9 57.5

14.7 16.1 15.8 14.6 19.1

11.1 14.2 15.9 18.8 18.9

1960 1961 1962 1963 1964

........................... ........................... ........................... ........................... ...........................

88.2 90.4 96.6 97.6 95.1

144.2 147.1 153.4 150.7 150.6

64.2 65.4 67.4 69.1 69.9

71.3 58.5 72.4 73.0 61.7

105.6 130.3 165.1 153.6 169.6

44.5 48.7 51.0 54.8 50.1

87.4 96.9 100.3 86.6 78.6

32.9 32.5 39.6 43.2 46.2

56.9 58.3 61.4 65.0 66.5

11.9 12.1 12.8 14.1 15.7

6.5 11.7 19.0 26.4 34.2

45.5 53.1 52.8 58.8 63.2

22.4 26.5 30.8 38.7 44.4

22.2 26.9 31.4 36.9 42.4

1965 1966 1967 1968 1969

........................... ........................... ........................... ........................... ...........................

95.4 108.9 123.1 128.4 123.3

150.8 166.1 180.7 183.1 183.3

69.8 70.0 71.3 72.4 72.1

63.9 93.1 91.9 106.4 88.8

183.2 261.3 401.9 460.2 408.4

49.7 59.2 70.4 71.6 67.7

68.6 79.3 89.5 78.5 69.5

48.3 48.6 50.8 50.9 53.5

67.7 70.4 73.9 75.6 76.3

18.0 20.5 22.5 23.8 24.7

43.7 45.4 39.8 31.8 27.7

63.5 74.4 80.4 64.5 81.1

45.8 49.8 45.9 40.6 39.6

48.4 49.8 40.4 35.4 32.1

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

112.1 103.4 97.1 90.0 87.1

170.0 157.1 145.1 137.6 135.5

71.0 68.0 64.3 61.3 59.3

79.5 57.2 73.1 67.6 58.4

284.3 232.4 236.8 176.0 152.1

61.8 61.8 54.9 51.4 52.1

63.3 40.3 30.1 33.9 41.4

53.3 55.8 60.1 59.4 62.7

77.3 79.9 82.2 82.4 86.5

25.3 25.5 25.6 25.9 26.3

22.1 21.2 22.8 18.0 15.6

83.1 79.1 88.9 76.8 84.5

45.0 49.1 58.1 58.3 59.0

30.4 31.9 33.0 34.0 35.0

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

85.0 83.5 84.4 85.3 86.4

133.6 130.9 129.8 130.6 129.5

58.5 58.5 58.8 59.1 59.7

60.7 54.5 69.0 77.1 83.3

126.0 102.8 96.0 96.8 99.7

48.9 49.7 50.4 49.7 51.5

46.0 50.1 51.2 50.9 58.1

64.8 64.7 67.4 70.2 71.4

88.0 92.4 94.5 96.9 96.8

26.8 27.5 28.3 29.6 31.2

16.7 18.0 20.7 26.1 31.5

63.9 80.9 92.5 108.1 108.2

62.1 55.7 59.0 63.4 67.9

36.3 39.0 41.0 48.5 47.3

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

89.7 94.8 101.2 106.6 109.8

130.3 134.3 137.4 139.5 141.5

60.8 62.3 64.4 67.5 71.8

87.3 101.8 111.7 132.0 133.4

109.0 115.3 114.8 120.2 113.8

58.0 63.8 76.5 81.0 87.2

62.2 68.6 77.1 90.5 103.3

75.1 76.3 73.0 75.7 73.0

99.4 96.5 94.7 96.0 96.1

33.1 35.2 37.2 39.8 43.2

36.8 32.7 28.1 42.8 46.4

106.8 177.1 126.2 132.1 138.1

67.5 61.4 59.1 62.0 62.6

51.0 50.8 47.2 53.6 57.6

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

116.4 121.8 126.3 127.7 126.8

144.1 144.8 146.1 144.3 144.3

77.5 84.1 90.6 95.9 100.1

143.2 153.0 162.5 167.1 160.4

111.8 141.1 138.2 133.2 129.0

99.1 104.7 111.1 114.0 110.3

124.4 142.5 155.6 144.0 144.9

77.1 80.0 78.8 75.0 81.4

96.3 94.9 96.6 99.0 99.6

46.6 50.0 53.2 56.5 59.8

47.4 47.8 53.5 55.9 61.5

121.1 107.0 121.9 120.0 106.5

65.5 65.5 72.2 71.8 72.8

61.5 63.0 69.1 64.7 69.0

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

125.9 125.8 119.3 114.2 109.0

143.4 142.9 134.5 128.7 122.1

104.0 107.0 108.8 109.2 108.3

154.6 147.6 132.8 120.8 103.7

115.2 117.3 108.5 99.5 90.6

110.3 110.0 103.7 98.4 98.2

149.3 140.7 135.3 118.3 110.2

88.0 89.1 94.6 93.4 94.1

104.5 104.2 106.1 106.0 103.0

63.3 66.9 69.7 72.2 74.1

70.0 72.1 78.1 76.0 76.2

113.6 96.8 118.6 118.5 115.0

82.4 84.8 92.7 85.6 92.0

75.3 81.5 90.0 92.1 82.2

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

105.2 103.3 102.1 99.5 101.0

115.4 110.5 106.5 103.2 100.7

106.7 105.1 103.5 101.8 100.8

94.2 93.5 93.9 94.9 100.8

74.3 82.1 82.7 85.6 95.3

96.6 97.9 99.2 95.3 102.2

104.3 105.1 92.4 93.4 97.6

92.6 90.6 93.7 92.7 94.5

98.9 96.3 95.7 96.8 97.0

76.3 79.7 83.6 88.1 94.3

78.4 87.3 92.4 92.5 92.3

112.7 108.4 116.8 114.9 91.8

92.0 88.6 92.3 87.8 91.0

87.1 93.3 92.0 101.8 108.9

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

100.0 103.9 110.9 120.8 128.5

100.0 100.7 103.4 107.1 109.0

100.0 99.8 99.7 100.4 102.2

100.0 100.9 104.8 113.3 126.9

100.0 104.7 125.6 136.3 156.6

100.0 112.2 130.1 155.9 173.9

100.0 104.1 116.1 125.6 140.4

100.0 104.5 111.0 115.2 117.3

100.0 99.9 101.9 104.4 103.3

100.0 103.9 107.1 108.9 110.3

100.0 112.5 130.3 129.6 149.2

100.0 118.6 144.6 158.9 180.9

100.0 107.3 119.0 126.0 132.8

100.0 100.3 107.3 108.0 109.0

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

107.8 109.9 110.5 115.6

102.6 103.5 104.0 103.5

99.7 99.7 99.7 99.8

99.1 104.5 111.3 104.1

120.9 137.0 115.4 129.1

121.5 124.5 128.9 145.7

107.9 116.7 122.0 117.6

107.9 110.7 112.2 113.1

100.3 101.0 102.3 103.9

106.1 106.8 107.5 108.0

127.3 128.5 132.0 133.4

140.5 147.9 144.1 145.8

114.9 118.3 121.4 121.6

105.0 113.2 106.4 104.7

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

114.1 124.0 121.5 123.9

105.9 107.4 107.6 107.5

100.0 100.3 100.6 100.9

102.0 119.1 116.4 115.8

140.8 150.2 123.3 130.9

135.7 164.7 158.1 165.0

119.8 125.8 127.5 129.4

115.6 112.9 116.8 115.4

104.4 104.8 104.3 104.0

108.3 108.7 109.1 109.4

128.8 126.5 131.5 131.4

138.5 154.7 168.7 173.6

129.5 119.2 130.1 125.2

105.0 117.2 106.7 103.0

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

127.4 127.6 130.6 128.6

108.8 108.3 109.3 109.8

101.4 101.9 102.5 103.1

119.1 128.4 129.0 130.9

165.9 152.4 161.1 146.9

171.3 171.8 180.8 171.7

137.4 138.8 139.7 145.8

116.9 117.4 116.9 118.1

103.4 103.4 102.9 103.7

109.7 110.1 110.5 111.0

137.1 149.9 151.2 158.6

183.4 179.5 178.0 182.9

130.6 131.7 134.7 134.1

103.3 117.3 106.0 109.5

1Excludes government sales to other sectors and government own-account investment (construction and software). 2Includes general government intermediate inputs for goods and services sold to other sectors and for own-account

investment.

CHAPTER 6: GOVERNMENT

121

Table 6-7. Chain-Type Quantity Indexes for National Defense Consumption Expenditures and Gross Investment: Selected Detail (Index numbers, 2000 = 100.)

NIPA Table 3.11.3 Consumption expenditures

Year and quarter

Compensation of general government employees

Military

Civilian

Gross investment

Intermediate goods and services purchased 1 Durable goods Aircraft

Nondurable goods

Equipment and software

Services

Petroleum products

Ammunition

Research and development

Installation support

Weapons support

Personnel support

Aircraft

Missiles

Ships

Electronics and software

1972 ................................. 1973 ................................. 1974 .................................

147.9 139.5 134.5

139.5 133.7 137.2

82.6 69.0 53.6

414.8 262.5 238.6

336.9 262.8 179.7

45.7 45.7 45.4

60.6 55.2 55.5

61.7 58.0 62.1

43.1 34.8 39.5

50.4 44.3 44.4

51.5 53.8 59.6

99.5 84.0 103.6

7.6 8.3 8.3

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

131.6 128.4 127.3 126.1 124.1

137.2 135.5 134.2 139.0 139.6

49.4 41.4 63.2 64.6 80.4

200.8 166.4 141.5 140.8 143.2

125.1 62.8 85.8 99.2 110.2

43.5 45.1 46.6 46.0 47.6

52.9 54.3 57.1 53.3 56.9

54.1 57.0 56.7 61.7 67.8

39.4 38.8 34.2 35.8 34.2

67.2 62.9 65.7 62.0 77.7

43.5 37.0 29.0 23.9 48.1

92.7 95.0 110.9 124.8 128.4

9.6 10.1 11.2 13.8 15.1

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

125.4 129.4 131.7 134.0 135.6

139.4 143.4 148.0 149.8 152.3

87.3 112.5 131.6 160.2 151.4

158.5 155.7 146.5 156.9 156.5

110.5 124.8 153.8 180.4 152.7

58.7 68.0 73.2 72.3 78.1

60.5 62.1 85.0 93.1 99.1

91.3 97.6 106.0 123.2 140.5

33.7 41.3 56.7 60.6 62.0

93.0 107.6 108.2 122.9 132.1

69.4 80.5 103.9 131.5 158.1

112.9 128.7 150.0 166.7 176.6

18.5 22.0 25.4 31.0 39.0

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

137.6 138.9 140.6 139.6 138.9

156.4 155.6 156.0 152.6 154.1

162.7 179.9 192.7 199.5 188.1

159.2 159.1 163.4 137.6 151.1

91.1 245.1 186.0 214.7 179.6

103.1 110.7 124.6 146.7 130.9

97.3 100.1 99.9 95.6 94.8

155.5 162.9 168.4 146.9 148.4

75.7 80.3 87.5 81.8 83.6

180.4 275.1 315.6 259.3 237.2

180.3 228.6 260.0 236.7 271.1

194.1 187.4 182.3 172.7 191.7

49.9 57.0 65.2 68.9 72.1

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

139.2 140.7 128.7 122.1 116.2

150.5 145.8 145.0 141.0 132.9

165.3 147.9 129.0 111.8 94.9

149.8 148.0 123.8 119.0 122.5

162.0 152.8 145.1 144.0 99.2

117.1 96.6 101.8 96.8 93.6

104.5 110.6 106.5 114.9 116.1

162.7 135.6 108.3 91.4 102.3

81.3 74.6 80.3 74.4 76.8

218.8 157.4 137.7 148.8 148.6

352.0 354.0 350.1 254.0 186.9

202.3 181.5 175.4 147.9 133.1

74.8 73.6 77.7 78.3 74.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

110.2 106.1 103.3 100.9 99.1

125.0 118.6 112.4 107.2 103.4

90.4 89.7 95.8 101.7 107.4

111.2 112.3 100.9 99.2 108.5

63.5 74.3 91.3 103.4 105.2

90.0 102.4 105.9 93.3 103.4

109.8 109.0 105.2 101.6 101.9

106.1 81.6 92.9 94.7 99.3

81.0 83.0 88.5 89.9 101.5

120.1 117.3 81.6 82.1 85.4

158.1 140.9 104.2 117.7 105.7

125.3 105.8 93.8 99.1 105.0

71.6 77.0 80.9 86.5 95.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

100.0 102.0 105.8 111.5 112.8

100.0 98.3 99.0 98.8 102.0

100.0 98.6 99.0 104.6 112.4

100.0 122.0 157.5 154.1 168.3

100.0 114.3 140.9 143.7 188.6

100.0 114.5 141.1 168.1 190.1

100.0 106.4 117.2 128.1 131.1

100.0 122.2 136.9 161.6 192.2

100.0 115.3 137.9 169.4 202.0

100.0 116.8 134.2 133.0 181.9

100.0 126.9 119.2 122.2 141.0

100.0 109.6 131.0 142.0 137.5

100.0 99.0 103.5 111.5 123.5

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

104.1 103.1 103.4 102.5

114.7 113.4 112.1 109.6

93.5 104.6 87.2 98.0

101.6 104.9 100.1 96.9

103.5 81.0 89.7 91.0

93.2 116.8 104.0 109.5

106.8 106.6 105.9 101.6

86.0 94.2 94.5 97.0

87.0 91.5 88.4 87.1

59.2 49.6 97.6 119.8

100.1 98.4 108.5 109.6

86.2 102.3 98.2 88.5

80.4 80.9 81.9 80.5

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

101.9 100.9 101.0 100.0

108.8 107.7 107.2 105.1

93.8 99.0 102.7 111.5

102.7 101.0 99.9 93.1

86.1 78.5 137.4 111.6

80.1 98.4 89.4 105.5

101.7 102.3 103.8 98.8

82.5 93.5 94.0 108.6

80.6 92.7 93.9 92.5

61.9 70.8 97.1 98.4

106.4 94.7 163.2 106.6

96.9 92.7 100.3 106.6

83.9 87.8 87.4 87.0

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.1 98.6 99.6 99.3

104.3 103.6 102.9 102.9

97.7 111.6 118.2 102.2

99.2 112.4 136.6 85.7

92.8 99.6 127.8 100.6

107.8 82.2 99.6 124.0

99.8 101.0 101.4 105.2

88.8 90.1 96.9 121.5

95.8 94.8 101.5 113.8

72.3 81.6 106.7 81.1

101.6 102.2 104.3 114.5

106.4 103.4 100.8 109.5

83.9 99.3 102.1 97.6

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.2 99.2 100.6 101.1

100.5 102.0 99.6 98.0

106.9 97.3 103.4 92.4

110.5 99.6 97.6 92.3

90.1 86.9 116.1 107.0

91.2 106.0 91.6 111.2

96.9 101.7 101.6 99.8

72.3 106.4 107.1 114.1

90.4 108.9 103.4 97.2

116.6 88.8 105.8 88.8

83.4 89.0 80.6 147.0

92.6 102.8 101.0 103.6

98.5 101.6 97.7 102.3

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

101.8 102.1 101.7 102.5

98.0 98.0 99.3 98.0

89.0 97.2 113.5 94.9

111.3 111.2 116.0 149.3

103.5 116.8 119.4 117.4

113.6 112.9 107.9 123.5

107.4 103.3 104.0 111.0

125.5 118.8 110.4 134.2

115.4 107.5 111.9 126.3

91.4 93.1 144.7 137.9

136.6 135.3 115.4 120.2

109.0 112.9 104.4 112.0

98.4 98.7 99.0 100.1

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.3 105.9 106.2 105.8

97.6 99.2 100.0 99.4

93.0 99.7 103.0 100.3

148.9 187.7 127.1 166.4

133.8 145.7 148.9 135.1

125.2 134.7 131.0 173.4

114.3 113.6 118.0 122.8

125.5 122.6 140.4 159.3

126.9 131.2 142.2 151.4

105.8 136.2 145.5 149.5

129.1 118.9 110.8 117.8

124.2 129.5 134.5 135.9

102.0 104.0 107.2 100.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

109.6 112.7 112.3 111.6

99.1 97.3 98.8 100.0

94.0 113.9 103.6 106.8

200.1 187.1 109.1 120.0

116.4 149.9 153.5 155.1

135.0 193.2 159.9 184.1

119.8 131.1 131.0 130.4

132.6 172.1 172.0 169.9

146.3 169.5 175.9 185.8

135.4 130.9 120.8 145.0

103.0 103.4 122.1 160.3

127.3 150.5 150.5 139.7

109.0 107.7 116.6 112.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

113.4 112.3 112.2 113.3

100.1 100.8 103.8 103.5

104.5 109.7 118.3 117.1

215.9 152.0 168.2 137.3

180.1 185.7 194.6 193.9

188.1 190.1 193.2 189.0

132.3 129.8 134.3 128.1

186.3 181.5 212.0 189.0

196.9 198.8 212.6 199.6

178.2 179.2 170.9 199.3

137.4 126.9 155.4 144.1

143.3 125.8 154.8 125.8

114.8 129.1 124.3 125.7

1Includes

general government intermediate inputs for goods and services sold to other sectors and for own-account investment.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Section 6b: State and Local Government in the National Income and Product Accounts

Figure 6-2. State and Local Government Current Receipts and Expenditures, 1946–2004 (percent of GDP)

14 12 10

Percent

122

8 6

Current receipts Current expenditures

4 2 0 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2001 2004

Year

• Both the current receipts and the current spending of state and local governments have increased as a share of GDP over the postwar period. However, the trend of the increase slowed over the 1970s, reflecting the weaker economy and the “tax revolt” associated with California’s Proposition 13 in 1978. Since state governments, unlike the federal government, are bound by constraints on deficit spending, they have generally run modest surpluses (“net saving”) in their current accounts, including small but consistent surpluses in their social insurance funds. (Tables 1-1 and 6-8) • State and local governments, responsible for much of the infrastructure of the national transportation, education, and justice systems, do eight times as much gross nondefense investment spending as the federal government. State and local gross investment rose 1,807 percent in real terms from 1946 to 2004, for an annual rate of increase of 5.2 percent. (Tables 6-2, 6-9, and 6-11) • Though they are constrained against deficits in their annual budgets, state and local governments can and do borrow for investment by issuing bonds. Their gross investment generally exceeds their current surpluses, so that they are usually net borrowers from the rest of the economy. (Table 6-10) • Looking at the accounts for state and local governments separately, both levels have been net borrowers of funds during most postwar years, financing new investment in excess of the using up of old capital. (Tables 6-12 and 6-13) • For both state and local governments, transportation spending dominates the economic affairs function. For states, transportation and higher education together made up 43 percent of all spending in 2001. For local governments, transportation and elementary and secondary education accounted for 59 percent of their total spending. (Tables 6-14 and 6-15)

CHAPTER 6: GOVERNMENT

123

Table 6-8. State and Local Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts Current tax receipts Year and quarter

Personal current taxes

Total Total

Total

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total

Interest receipts

Rents and royalties

1946 1947 1948 1949

................................. ................................. ................................. .................................

12.6 14.9 16.8 18.3

10.5 12.0 13.7 15.0

0.9 1.0 1.1 1.4

0.4 0.5 0.6 0.7

9.1 10.4 11.9 13.0

2.9 3.5 4.1 4.3

4.8 5.3 5.9 6.6

1.4 1.6 1.8 2.1

0.5 0.6 0.7 0.6

0.2 0.2 0.2 0.2

0.4 0.4 0.5 0.5

0.3 0.3 0.3 0.3

0.1 0.1 0.2 0.2

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

20.0 21.9 23.7 25.5 26.9

16.5 18.1 19.7 21.1 22.2

1.5 1.7 1.8 1.9 2.1

0.8 0.9 1.0 1.0 1.1

14.2 15.6 17.0 18.4 19.4

4.8 5.4 5.8 6.3 6.5

7.1 7.7 8.4 9.1 9.7

2.3 2.5 2.8 3.0 3.2

0.8 0.9 0.8 0.8 0.8

0.2 0.2 0.3 0.3 0.3

0.5 0.6 0.7 0.7 0.8

0.3 0.4 0.4 0.5 0.5

0.2 0.2 0.2 0.3 0.3

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

29.4 32.4 35.0 37.1 40.6

24.4 27.0 29.0 30.6 33.8

2.4 2.7 2.9 3.1 3.8

1.3 1.6 1.7 1.8 2.2

21.0 23.3 25.1 26.5 28.8

7.1 8.0 8.6 10.0 11.1

10.4 11.5 12.6 13.8 14.8

3.5 3.8 3.9 2.8 2.9

1.0 1.0 1.0 1.0 1.2

0.3 0.4 0.4 0.4 0.4

0.9 1.0 1.1 1.1 1.1

0.6 0.7 0.7 0.8 0.9

0.3 0.3 0.3 0.4 0.3

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

44.5 48.1 52.0 56.0 61.3

37.0 39.7 42.8 45.8 49.8

4.2 4.6 5.0 5.4 6.1

2.5 2.8 3.2 3.4 4.0

31.5 33.8 36.3 38.7 41.8

12.2 13.0 14.0 15.0 16.5

16.2 17.6 19.0 20.2 21.7

3.1 3.2 3.3 3.5 3.7

1.2 1.3 1.5 1.7 1.8

0.5 0.5 0.5 0.6 0.7

1.3 1.4 1.5 1.6 1.9

1.0 1.1 1.1 1.2 1.5

0.3 0.4 0.4 0.4 0.4

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

66.5 74.9 82.5 93.5 105.5

53.9 58.8 64.0 73.4 82.5

6.6 7.8 8.6 10.6 12.8

4.4 5.4 6.1 7.8 9.8

45.3 48.8 52.8 59.5 66.0

18.2 20.0 21.4 25.1 28.6

23.2 24.5 27.0 29.9 32.8

3.9 4.3 4.4 4.6 4.7

2.0 2.2 2.6 3.3 3.6

0.8 0.8 0.9 0.9 1.0

2.2 2.6 3.0 3.5 4.3

1.8 2.1 2.4 2.8 3.6

0.4 0.5 0.6 0.7 0.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

120.1 134.9 158.4 174.3 188.1

91.3 101.7 115.6 126.3 136.0

14.2 15.9 20.9 22.8 24.5

10.9 12.4 17.2 18.9 20.4

73.3 81.5 89.4 97.4 104.8

31.6 35.4 39.8 44.1 48.2

36.7 40.4 43.2 46.4 49.0

5.0 5.7 6.4 7.0 7.7

3.7 4.3 5.3 6.0 6.7

1.1 1.2 1.3 1.5 1.7

5.2 5.5 5.9 7.8 10.2

4.3 4.6 4.9 6.6 8.9

0.8 0.9 1.0 1.1 1.3

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

209.6 233.7 259.9 287.6 308.4

147.4 165.7 183.7 198.2 212.0

26.9 31.1 35.4 40.5 44.0

22.5 26.3 30.4 35.0 38.2

113.2 125.0 136.9 145.6 154.4

51.7 57.8 64.0 71.0 77.3

53.4 58.2 63.2 63.7 64.4

8.1 9.0 9.7 10.9 12.7

7.3 9.6 11.4 12.1 13.6

1.8 2.2 2.8 3.4 3.9

11.2 10.4 11.7 14.7 20.1

9.8 9.0 10.4 13.3 18.1

1.3 1.3 1.3 1.3 1.9

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

338.2 370.2 391.4 428.6 480.2

230.0 255.8 273.2 300.9 337.3

48.9 54.6 59.1 66.1 76.0

42.6 47.9 51.9 58.3 67.5

166.7 185.7 200.0 218.9 242.5

82.9 90.7 96.2 107.7 121.0

68.8 77.1 85.3 91.9 99.7

15.0 17.9 18.5 19.4 21.8

14.5 15.4 14.0 15.9 18.8

3.6 3.9 4.0 4.1 4.7

26.3 32.0 36.7 41.4 47.7

23.1 28.5 33.1 37.0 42.6

3.1 3.3 3.5 4.3 4.9

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

521.1 561.6 590.6 635.5 687.3

363.7 389.5 422.1 452.8 488.0

81.4 87.2 96.6 102.1 114.6

72.1 77.4 86.0 90.6 102.3

262.1 279.7 301.6 324.6 349.1

131.1 139.9 150.3 162.4 172.3

107.5 116.2 126.4 136.5 149.9

23.5 23.7 24.9 25.7 26.9

20.2 22.7 23.9 26.0 24.2

4.9 6.0 7.2 8.4 9.0

54.9 58.4 58.1 60.5 65.7

49.4 52.0 52.6 55.9 61.4

5.4 6.2 5.3 4.4 4.1

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

737.8 789.2 845.7 886.9 942.9

519.1 544.3 579.8 604.7 644.2

122.6 125.3 135.3 141.1 148.0

109.6 111.7 120.4 126.2 132.2

374.1 395.3 420.1 436.8 466.3

184.3 190.7 204.3 216.4 231.4

161.5 176.1 184.7 187.3 199.4

28.3 28.6 31.1 33.1 35.5

22.5 23.6 24.4 26.9 30.0

10.0 11.6 13.1 14.1 14.5

68.4 68.0 64.8 61.4 63.2

64.1 63.1 59.6 56.2 57.9

4.2 4.5 4.8 4.5 4.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

990.2 1 043.3 1 097.4 1 163.2 1 236.7

672.1 709.6 749.9 794.9 840.4

158.1 168.7 182.0 201.2 214.5

141.7 152.3 164.7 183.0 195.5

482.4 507.9 533.8 558.8 590.2

242.7 256.2 268.7 283.9 301.6

202.6 212.4 223.5 231.0 242.8

37.0 39.4 41.6 43.9 45.8

31.7 33.0 34.1 34.9 35.8

13.6 12.5 10.8 10.4 9.8

68.4 73.3 77.8 80.9 85.3

62.9 67.3 71.5 74.6 78.4

4.5 4.6 4.8 4.6 5.1

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 319.5 1 373.0 1 410.1 1 488.6 1 581.7

893.2 915.8 929.0 972.6 1 047.6

236.6 242.7 221.3 225.6 247.2

217.3 223.1 200.8 203.7 224.0

621.1 642.8 675.5 711.7 758.8

316.6 321.1 330.2 347.9 370.4

254.6 269.3 290.1 303.4 322.8

49.9 52.4 55.2 60.4 65.5

35.5 30.2 32.2 35.3 41.5

11.0 13.6 15.8 17.5 19.7

92.2 88.8 78.2 74.9 77.1

84.0 80.3 69.6 65.4 67.0

6.3 6.5 6.6 7.3 7.7

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 379.7 1 396.4 1 422.7 1 441.7

910.3 916.5 940.1 949.0

220.1 215.1 224.2 225.8

200.3 194.6 203.5 204.9

661.1 670.2 683.2 687.5

324.2 328.1 333.9 334.5

282.9 288.3 292.9 296.5

54.0 53.8 56.4 56.6

29.1 31.2 32.8 35.6

15.0 15.6 16.1 16.5

82.3 79.0 76.5 75.0

73.8 70.5 67.9 66.2

6.4 6.5 6.6 6.8

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 433.1 1 474.6 1 507.6 1 539.0

944.7 954.1 985.8 1 005.7

217.7 215.8 231.9 237.0

196.5 194.2 209.7 214.2

693.7 705.0 717.8 730.5

338.0 344.2 351.2 358.2

297.8 301.2 305.1 309.6

57.9 59.6 61.6 62.6

33.4 33.4 36.0 38.2

16.7 17.2 17.7 18.3

75.1 74.6 74.7 75.0

65.8 65.3 65.2 65.4

7.1 7.2 7.4 7.5

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 546.8 1 579.7 1 574.5 1 625.7

1 021.5 1 044.2 1 049.3 1 075.2

238.3 247.7 248.4 254.6

215.4 224.9 224.9 230.9

743.7 754.3 761.5 775.8

364.5 368.6 370.1 378.6

315.7 320.6 325.3 329.7

63.5 65.1 66.1 67.5

39.5 42.2 39.4 44.8

19.1 19.6 19.9 20.1

75.6 76.7 77.4 78.8

66.0 66.8 67.3 67.8

7.6 7.7 7.8 7.9

124

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-8. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts—Continued

Current expenditures

Current transfer receipts Year and quarter Total

Federal grants-inaid

From business (net)

From persons

Current surplus of government enterprises

Total

Net state and local government saving, NIPA (surplus + / deficit -)

GovernConsumpment social Interest tion expenbenefits to payments ditures persons

Subsidies

Total

Social insurance funds

Other

1946 1947 1948 1949

................................. ................................. ................................. .................................

1.2 1.8 2.0 2.2

1.0 1.6 1.7 1.9

0.1 0.1 0.1 0.1

0.2 0.2 0.2 0.3

0.4 0.4 0.3 0.4

11.1 13.5 15.5 16.8

9.2 10.9 12.3 13.7

1.5 2.0 2.7 2.7

0.5 0.5 0.5 0.5

... ... ... ...

1.5 1.4 1.2 1.5

0.1 0.1 0.1 0.1

1.4 1.4 1.1 1.4

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

2.3 2.5 2.6 2.8 2.9

1.9 2.0 2.2 2.3 2.3

0.1 0.1 0.1 0.1 0.2

0.3 0.3 0.3 0.3 0.4

0.4 0.5 0.5 0.6 0.7

18.6 19.4 20.7 22.0 23.7

14.9 16.1 17.1 18.2 19.7

3.2 2.6 2.9 3.0 3.1

0.6 0.6 0.7 0.8 0.9

... ... ... ... ...

1.3 2.6 3.0 3.5 3.2

0.1 0.1 0.1 0.1 0.1

1.2 2.5 2.9 3.4 3.1

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

3.0 3.2 3.6 4.1 4.2

2.4 2.5 2.9 3.3 3.8

0.2 0.2 0.2 0.2 0.1

0.4 0.4 0.5 0.5 0.3

0.8 0.9 0.9 0.9 1.1

25.9 28.0 30.8 34.2 36.9

21.6 23.4 25.8 28.6 30.7

3.3 3.3 3.6 4.0 4.3

1.1 1.2 1.4 1.5 1.8

... ... ... ... 0.0

3.5 4.4 4.2 2.9 3.8

0.1 0.1 0.1 0.0 0.0

3.4 4.3 4.1 2.8 3.8

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4.5 5.2 5.8 6.4 7.3

4.0 4.5 5.0 5.6 6.5

0.2 0.2 0.2 0.3 0.3

0.3 0.4 0.5 0.5 0.5

1.2 1.3 1.4 1.6 1.6

40.2 43.8 46.8 50.3 54.9

33.5 36.6 39.0 41.9 45.8

4.6 5.0 5.3 5.7 6.2

2.1 2.2 2.4 2.7 2.9

0.0 0.0 0.0 0.0 0.0

4.3 4.3 5.2 5.7 6.4

0.0 0.0 0.0 0.0 0.0

4.3 4.3 5.2 5.7 6.3

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

8.0 11.1 13.1 14.2 16.2

7.2 10.1 11.7 12.7 14.6

0.3 0.3 0.5 0.5 0.5

0.5 0.7 0.9 1.0 1.1

1.7 1.6 1.5 1.5 1.5

60.0 67.2 75.5 86.0 97.5

50.2 56.1 62.6 70.4 79.9

6.7 7.6 9.2 11.4 13.2

3.1 3.4 3.7 4.2 4.4

0.0 0.0 0.0 0.0 0.0

6.5 7.8 7.0 7.5 8.0

0.1 0.1 0.1 0.1 0.2

6.4 7.6 6.9 7.3 7.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

21.1 25.2 34.0 37.3 39.3

19.3 23.2 31.7 34.8 36.3

0.6 0.6 0.7 0.9 1.1

1.2 1.4 1.7 1.7 2.0

1.5 1.4 1.6 1.5 0.9

113.0 128.5 142.8 158.6 178.7

91.5 102.7 113.2 126.0 143.7

16.1 19.3 22.0 24.1 25.3

5.3 6.5 7.5 8.5 9.6

0.0 0.0 0.1 0.1 0.1

7.1 6.5 15.6 15.7 9.3

0.2 0.2 0.3 0.3 0.4

6.9 6.2 15.4 15.4 9.0

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

48.7 55.0 61.4 71.1 72.7

45.1 50.7 56.6 65.5 66.3

1.2 1.4 1.6 1.9 2.2

2.4 2.9 3.3 3.7 4.1

0.4 0.4 0.3 0.3 -0.3

207.1 226.3 246.8 268.9 295.4

165.1 179.5 195.9 213.2 233.3

30.8 34.1 37.0 40.8 44.3

11.1 12.5 13.7 14.9 17.2

0.2 0.2 0.2 0.2 0.3

2.5 7.4 13.1 18.7 13.0

0.5 0.6 1.0 1.5 1.8

2.0 6.8 12.2 17.2 11.2

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

79.5 81.0 79.1 82.4 89.0

72.3 72.5 69.5 71.6 76.7

2.5 2.9 3.2 3.6 4.2

4.7 5.7 6.4 7.2 8.1

-1.2 -2.4 -1.6 -0.2 1.5

329.4 362.7 393.6 423.7 456.2

258.4 282.3 304.9 324.1 347.7

51.2 57.1 61.2 66.9 71.2

19.4 22.8 27.1 32.3 37.0

0.4 0.4 0.5 0.4 0.4

8.8 7.6 -2.2 4.9 23.9

1.3 1.3 1.2 1.2 1.4

7.5 6.3 -3.4 3.7 22.5

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

94.5 105.0 100.0 109.0 118.1

80.9 87.6 83.9 91.6 98.3

4.4 6.7 4.9 5.4 6.4

9.2 10.6 11.2 12.0 13.4

3.2 2.8 3.1 4.8 6.5

498.7 540.7 578.1 617.6 666.5

381.8 417.9 440.9 470.4 502.1

77.3 84.3 90.7 98.5 109.3

39.4 38.2 46.2 48.4 54.6

0.3 0.3 0.3 0.4 0.4

22.3 21.0 12.4 17.9 20.8

1.3 1.9 2.2 2.5 2.3

21.0 19.1 10.2 15.4 18.5

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

133.5 158.2 180.3 197.7 211.9

111.4 131.6 149.1 163.7 174.7

7.1 7.9 9.2 10.5 12.0

14.9 18.7 21.9 23.5 25.2

6.7 7.1 7.7 9.0 9.0

730.5 793.3 845.0 886.0 932.4

544.6 574.6 602.7 630.3 663.3

127.7 156.5 180.0 195.2 206.7

57.9 61.7 61.9 60.2 62.0

0.4 0.4 0.4 0.4 0.3

7.2 -4.2 0.7 0.9 10.5

2.0 2.4 3.1 4.2 4.6

5.3 -6.5 -2.4 -3.3 5.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

224.1 234.1 246.6 266.8 290.8

184.1 191.2 198.6 212.8 232.9

13.5 15.2 17.7 22.1 23.0

26.5 27.8 30.3 31.9 34.9

12.0 13.9 12.3 10.2 10.4

978.2 1 017.5 1 058.3 1 111.2 1 186.3

696.1 724.8 758.9 801.4 858.9

217.6 224.3 227.6 235.8 252.4

64.2 68.1 71.4 73.6 74.6

0.3 0.3 0.4 0.4 0.4

12.0 25.8 39.1 52.0 50.4

4.0 2.8 1.2 1.7 1.7

8.0 23.0 38.0 50.3 48.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

315.4 350.8 384.7 424.3 439.8

247.3 276.1 304.6 339.1 348.3

28.8 31.4 32.6 34.1 35.5

39.2 43.3 47.5 51.1 56.0

7.7 4.0 2.5 -0.6 -2.5

1 269.5 1 368.2 1 444.3 1 512.4 1 587.5

917.8 969.8 1 025.3 1 074.8 1 117.7

271.7 305.2 332.0 351.3 380.5

79.5 85.5 86.0 86.2 88.9

0.5 7.7 0.9 0.1 0.5

50.0 4.8 -34.2 -23.8 -5.9

2.0 2.6 1.7 1.3 1.8

47.9 2.2 -35.9 -25.1 -7.7

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

369.5 382.5 387.4 399.3

291.4 303.1 306.6 317.2

32.0 32.4 32.9 33.3

46.1 47.0 47.9 48.8

2.7 2.7 2.6 2.0

1 415.0 1 431.5 1 454.2 1 476.6

1 001.8 1 019.4 1 033.6 1 046.7

324.9 325.4 333.0 344.7

86.5 86.2 85.9 85.7

1.8 0.6 1.7 -0.4

-35.3 -35.1 -31.4 -34.9

2.1 1.8 1.6 1.4

-37.4 -36.9 -33.0 -36.2

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

396.1 428.9 430.4 441.7

313.2 344.6 344.4 354.0

33.3 33.8 34.4 35.0

49.5 50.5 51.6 52.7

0.4 -0.3 -1.0 -1.7

1 500.9 1 500.7 1 521.4 1 526.5

1 070.8 1 067.8 1 077.7 1 082.9

344.3 346.7 358.5 355.8

85.8 85.8 86.2 86.9

0.1 0.4 -0.9 1.0

-67.8 -26.1 -13.8 12.5

1.2 1.2 1.3 1.4

-69.0 -27.3 -15.0 11.0

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

432.5 441.8 430.5 454.5

342.6 349.9 341.9 358.7

35.8 36.5 31.9 37.7

54.1 55.4 56.7 58.0

-1.9 -2.5 -2.6 -2.9

1 553.2 1 581.3 1 593.8 1 621.7

1 095.1 1 108.9 1 123.9 1 143.1

370.4 383.5 380.2 387.7

87.3 88.4 89.3 90.4

0.5 0.5 0.5 0.5

-6.5 -1.6 -19.3 4.0

1.9 2.0 1.9 1.6

-8.3 -3.6 -21.2 2.3

. . . = Not available.

125

CHAPTER 6: GOVERNMENT Table 6-9. State and Local Government Consumption Expenditures and Gross Investment (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 3.9.5, 3.10.5 State and local government consumption expenditures and gross investment Consumption expenditures 1

Gross investment Less

Year and quarter Total Total

CompenConsumpIntermediate sation of tion of goods and general general services government government purchased 2 employees fixed capital

Sales to other sectors Ownaccount investment

Total

Total

Tuition and related educational charges

Health and hospital charges

Structures

Equipment and software

1946 1947 1948 1949

................................. ................................. ................................. .................................

10.8 13.7 16.3 19.0

9.2 10.9 12.3 13.7

6.2 7.3 8.5 9.4

1.2 1.5 1.7 1.7

2.8 3.4 3.6 4.2

0.1 0.1 0.2 0.2

0.9 1.1 1.3 1.4

0.1 0.1 0.1 0.1

0.2 0.2 0.3 0.3

1.6 2.8 4.0 5.3

1.4 2.5 3.6 4.9

0.2 0.3 0.4 0.5

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

20.7 23.0 24.4 26.1 28.9

14.9 16.1 17.1 18.2 19.7

10.1 11.2 12.3 13.3 14.7

1.7 2.0 2.2 2.2 2.2

4.9 4.9 4.9 4.9 5.2

0.3 0.3 0.4 0.4 0.4

1.6 1.7 1.8 1.9 2.0

0.1 0.1 0.2 0.2 0.2

0.3 0.3 0.3 0.4 0.4

5.9 7.0 7.3 7.9 9.2

5.4 6.4 6.7 7.3 8.5

0.5 0.5 0.6 0.6 0.7

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

31.6 34.7 38.3 42.2 44.7

21.6 23.4 25.8 28.6 30.7

15.8 17.6 19.6 21.6 23.1

2.4 2.8 3.0 3.1 3.3

6.0 5.9 6.4 7.5 8.3

0.4 0.5 0.5 0.6 0.8

2.2 2.4 2.6 3.0 3.2

0.2 0.2 0.3 0.3 0.4

0.5 0.6 0.7 0.9 1.0

10.0 11.3 12.5 13.5 13.9

9.3 10.4 11.5 12.5 12.8

0.8 0.9 1.1 1.1 1.1

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

47.5 51.6 54.9 59.5 64.8

33.5 36.6 39.0 41.9 45.8

25.5 27.9 30.2 32.9 35.9

3.5 3.7 3.9 4.2 4.5

8.9 9.7 10.1 10.8 11.9

0.8 0.8 0.9 1.0 1.0

3.5 3.9 4.4 4.9 5.5

0.4 0.5 0.6 0.7 0.8

1.0 1.0 1.3 1.3 1.5

13.9 15.0 15.9 17.5 19.0

12.7 13.8 14.5 16.0 17.2

1.2 1.3 1.3 1.5 1.8

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

71.0 79.2 87.9 98.0 108.2

50.2 56.1 62.6 70.4 79.9

39.3 44.1 49.5 55.9 62.6

4.9 5.5 6.0 6.6 7.4

13.4 14.9 16.5 18.7 21.8

1.1 1.2 1.2 1.3 1.4

6.3 7.2 8.2 9.5 10.6

1.0 1.2 1.4 1.6 1.9

1.8 2.1 2.5 3.2 3.5

20.8 23.1 25.3 27.7 28.3

19.0 21.0 23.0 25.2 25.6

1.9 2.1 2.3 2.4 2.7

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

120.3 132.8 143.8 159.2 183.4

91.5 102.7 113.2 126.0 143.7

71.1 79.2 87.7 98.0 107.7

8.4 9.4 10.2 11.3 14.1

25.4 29.2 32.2 35.4 42.7

1.5 1.6 1.7 1.7 2.1

11.8 13.5 15.2 17.0 18.7

2.4 2.9 3.2 3.7 4.0

3.8 4.6 5.6 6.6 7.4

28.7 30.1 30.6 33.2 39.6

25.8 27.0 27.1 29.1 34.7

3.0 3.1 3.5 4.1 4.9

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

208.7 223.3 238.7 262.6 290.2

165.1 179.5 195.9 213.2 233.3

121.2 133.0 145.1 158.9 174.3

15.9 16.6 17.5 18.9 21.1

50.7 55.2 61.1 66.9 74.3

2.1 2.0 2.0 2.3 2.9

20.6 23.3 25.8 29.2 33.4

4.3 4.7 5.2 5.8 6.4

8.5 9.9 10.9 12.7 15.2

43.6 43.8 42.8 49.5 56.8

38.1 38.1 36.9 42.8 49.0

5.5 5.7 5.9 6.6 7.8

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

322.4 347.3 369.7 390.5 422.6

258.4 282.3 304.9 324.1 347.7

193.0 210.1 227.4 243.0 261.1

24.3 27.8 30.3 31.2 32.0

82.0 91.6 100.6 109.6 119.0

3.3 3.5 3.7 4.0 4.6

37.6 43.7 49.7 55.7 59.8

7.2 8.3 9.4 10.7 11.7

17.3 21.0 24.5 27.8 29.4

64.0 65.0 64.8 66.4 75.0

55.1 55.4 54.2 54.2 60.5

8.9 9.5 10.6 12.2 14.4

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

466.2 510.7 539.4 576.7 616.9

381.8 417.9 440.9 470.4 502.1

284.7 307.3 328.8 353.7 380.5

33.7 36.2 39.0 41.5 44.4

134.0 151.6 156.2 166.0 178.8

5.2 5.7 6.1 6.7 7.8

65.4 71.5 76.9 84.1 93.8

12.8 13.9 15.0 16.6 18.4

32.0 34.8 37.0 40.3 45.0

84.4 92.8 98.4 106.3 114.7

67.6 74.2 78.8 84.8 88.7

16.8 18.6 19.6 21.5 26.0

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

671.9 706.7 737.0 766.0 806.3

544.6 574.6 602.7 630.3 663.3

414.6 439.8 463.9 486.7 511.2

48.0 51.1 53.4 56.3 59.5

194.0 208.4 224.0 239.7 256.0

8.6 9.3 9.5 9.7 10.1

103.5 115.4 129.1 142.7 153.3

20.3 22.7 25.5 27.5 29.4

50.0 57.0 65.3 73.1 78.8

127.2 132.1 134.3 135.7 143.0

98.5 103.2 104.2 104.5 108.7

28.7 28.9 30.1 31.2 34.3

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

850.0 888.6 937.8 987.9 1 065.0

696.1 724.8 758.9 801.4 858.9

533.5 552.7 575.5 603.3 633.1

63.4 66.7 70.2 73.9 78.7

274.8 289.6 308.5 331.4 364.6

10.6 11.0 12.2 12.6 13.5

165.0 173.2 183.2 194.6 203.9

31.2 33.0 35.5 38.1 40.9

85.0 86.6 89.9 95.9 98.4

154.0 163.8 178.9 186.5 206.0

117.3 126.8 139.5 143.6 159.7

36.7 36.9 39.4 43.0 46.4

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 142.8 1 212.8 1 281.5 1 337.1 1 388.3

917.8 969.8 1 025.3 1 074.8 1 117.7

669.4 710.8 754.2 795.2 827.9

84.8 89.9 94.8 98.6 103.6

399.0 428.3 452.9 477.4 509.2

14.9 16.7 17.0 17.2 17.8

220.6 242.7 259.5 279.1 305.1

44.3 49.7 53.6 58.7 64.1

105.5 118.5 128.4 139.7 155.0

225.0 243.0 256.1 262.3 270.6

176.0 192.4 205.9 211.6 217.6

49.0 50.6 50.2 50.8 53.0

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 257.2 1 273.1 1 289.8 1 305.9

1 001.8 1 019.4 1 033.6 1 046.7

739.3 749.2 759.2 769.1

92.9 94.3 95.5 96.4

440.8 449.9 456.9 463.9

17.1 16.9 17.0 17.1

254.2 257.1 261.0 265.5

52.4 53.0 53.9 55.0

125.3 127.0 129.2 131.9

255.4 253.7 256.2 259.3

204.8 203.5 206.0 209.5

50.6 50.2 50.2 49.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 330.4 1 327.1 1 344.4 1 346.5

1 070.8 1 067.8 1 077.7 1 082.9

783.4 790.2 800.2 806.8

97.4 98.1 99.0 99.7

477.4 472.3 477.8 482.0

17.0 17.0 17.5 17.3

270.5 275.9 281.8 288.3

56.6 58.0 59.4 60.9

134.8 137.9 141.3 145.1

259.7 259.3 266.7 263.6

209.6 209.0 215.6 212.0

50.1 50.2 51.1 51.7

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 357.9 1 380.4 1 395.9 1 419.1

1 095.1 1 108.9 1 123.9 1 143.1

814.1 822.8 832.5 842.0

100.8 103.1 104.4 106.0

493.2 503.1 512.7 528.0

17.3 17.9 17.9 18.1

295.7 302.2 307.9 314.8

62.4 63.6 64.7 65.8

149.3 153.1 156.7 160.9

262.8 271.5 272.1 276.1

210.7 218.7 218.8 222.0

52.1 52.7 53.3 54.0

1Excludes government sales to other sectors and government own-account investment (construction and software). 2Includes general government intermediate inputs for goods and services sold to other sectors and for own-account

investment.

126

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-10. State and Local Government Output, Lending and Borrowing, and Net Investment (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Tables 3.3, 3.10.5 Output

Net lending (net borrowing -) Minus

Value added

Intermediate goods and services purchased 1

Year and quarter Gross

Net saving, current (surplus +, deficit -)

Plus: capital transfer receipts

Gross investment

Capital transfer payments

Plus: Net consumption of fixed purchases of capital nonproduced assets

Equals: Net lending (borrowing -)

Net investment

1946 1947 1948 1949

................................. ................................. ................................. .................................

10.2 12.2 13.8 15.3

7.4 8.8 10.2 11.1

2.8 3.4 3.6 4.2

1.5 1.4 1.2 1.5

0.2 0.3 0.4 0.5

1.6 2.8 4.0 5.3

... ... ... ...

0.1 0.1 0.1 0.2

1.5 1.8 2.1 2.1

1.6 0.6 -0.4 -1.4

0.1 1.0 1.9 3.2

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

16.7 18.1 19.3 20.5 22.1

11.8 13.2 14.4 15.5 16.9

4.9 4.9 4.9 4.9 5.2

1.3 2.6 3.0 3.5 3.2

0.6 0.7 0.7 0.8 0.8

5.9 7.0 7.3 7.9 9.2

... ... ... ... ...

0.3 0.3 0.3 0.3 0.4

2.1 2.6 2.7 2.8 2.9

-2.1 -1.5 -1.1 -1.1 -2.6

3.8 4.4 4.6 5.1 6.3

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

24.2 26.3 29.0 32.2 34.8

18.2 20.4 22.6 24.7 26.5

6.0 5.9 6.4 7.5 8.3

3.5 4.4 4.2 2.9 3.8

1.0 1.1 1.6 2.7 3.5

10.0 11.3 12.5 13.5 13.9

... ... ... ... ...

0.6 0.7 0.7 0.8 0.8

3.1 3.5 3.9 4.0 4.2

-3.1 -2.9 -3.5 -4.7 -3.2

6.9 7.8 8.6 9.5 9.7

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

37.9 41.3 44.3 47.9 52.3

28.9 31.6 34.2 37.1 40.4

8.9 9.7 10.1 10.8 11.9

4.3 4.3 5.2 5.7 6.4

3.0 3.3 3.5 4.1 4.7

13.9 15.0 15.9 17.5 19.0

... ... ... ... ...

0.9 1.0 1.1 1.2 1.3

4.4 4.7 5.0 5.4 5.7

-3.1 -3.8 -3.2 -3.5 -3.4

9.5 10.3 10.9 12.1 13.3

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

57.6 64.5 72.0 81.2 91.9

44.2 49.6 55.5 62.5 70.0

13.4 14.9 16.5 18.7 21.8

6.5 7.8 7.0 7.5 8.0

4.7 5.1 5.1 6.8 6.8

20.8 23.1 25.3 27.7 28.3

... ... ... ... ...

1.3 1.4 1.4 1.4 1.0

6.2 6.9 7.5 8.3 9.3

-4.6 -4.7 -7.1 -6.4 -5.1

14.6 16.2 17.8 19.4 19.0

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

104.9 117.9 130.0 144.7 164.5

79.5 88.6 97.9 109.3 121.8

25.4 29.2 32.2 35.4 42.7

7.1 6.5 15.6 15.7 9.3

6.2 7.0 7.3 7.3 9.2

28.7 30.1 30.6 33.2 39.6

... ... ... ... ...

1.1 1.6 1.7 1.7 1.9

10.6 11.8 12.8 14.3 17.7

-6.0 -6.4 3.4 2.4 -5.3

18.1 18.3 17.8 18.9 21.9

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

187.9 204.8 223.7 244.7 269.6

137.1 149.7 162.6 177.8 195.4

50.7 55.2 61.1 66.9 74.3

2.5 7.4 13.1 18.7 13.0

11.0 12.0 13.1 13.7 16.2

43.6 43.8 42.8 49.5 56.8

... ... ... ... ...

1.9 1.7 1.6 1.6 1.7

20.2 21.3 22.6 24.5 27.5

-11.9 -4.9 4.5 5.8 -1.8

23.4 22.5 20.2 25.0 29.3

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

299.3 329.5 358.3 383.7 412.1

217.3 237.9 257.7 274.1 293.1

82.0 91.6 100.6 109.6 119.0

8.8 7.6 -2.2 4.9 23.9

18.6 17.8 16.9 18.0 20.1

64.0 65.0 64.8 66.4 75.0

... ... ... ... ...

1.8 2.0 2.0 2.2 2.6

31.8 36.3 39.5 40.9 42.3

-6.6 -5.3 -12.6 -4.9 8.8

32.2 28.7 25.3 25.5 32.7

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

452.4 495.1 524.0 561.1 603.7

318.4 343.5 367.8 395.2 424.9

134.0 151.6 156.2 166.0 178.8

22.3 21.0 12.4 17.9 20.8

22.0 23.0 22.3 23.1 23.4

84.4 92.8 98.4 106.3 114.7

... ... ... ... ...

3.1 3.7 4.2 4.3 4.9

44.6 47.9 51.4 54.8 58.7

1.5 -4.6 -16.4 -14.8 -16.6

39.8 44.9 47.0 51.5 56.0

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

656.7 699.4 741.3 782.7 826.7

462.6 490.9 517.3 543.0 570.7

194.0 208.4 224.0 239.7 256.0

7.2 -4.2 0.7 0.9 10.5

25.0 25.8 26.9 28.6 29.9

127.2 132.1 134.3 135.7 143.0

... ... ... ... ...

5.7 5.8 5.9 5.8 6.2

63.0 66.9 69.9 73.8 78.5

-37.7 -49.4 -42.8 -38.2 -30.4

64.2 65.2 64.4 61.9 64.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

871.7 908.9 954.3 1 008.6 1 076.4

596.9 619.3 645.8 677.2 711.8

274.8 289.6 308.5 331.4 364.6

12.0 25.8 39.1 52.0 50.4

32.4 33.9 35.3 36.0 39.9

154.0 163.8 178.9 186.5 206.0

... ... ... ... ...

6.6 6.1 5.8 7.5 8.6

83.1 87.2 91.6 96.2 102.1

-33.0 -22.9 -18.7 -9.9 -22.3

70.9 76.6 87.3 90.3 103.9

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 153.2 1 229.1 1 301.8 1 371.1 1 440.7

754.2 800.8 848.9 893.7 931.4

399.0 428.3 452.9 477.4 509.2

50.0 4.8 -34.2 -23.8 -5.9

43.7 48.6 52.1 51.5 51.9

225.0 243.0 256.1 262.3 270.6

... ... ... ... ...

8.8 9.2 10.6 11.3 11.7

109.8 117.8 122.7 128.3 135.3

-30.4 -81.1 -126.1 -117.7 -101.0

115.2 125.2 133.4 134.0 135.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 273.0 1 293.4 1 311.6 1 329.3

832.2 843.5 854.6 865.5

440.8 449.9 456.9 463.9

-35.3 -35.1 -31.4 -34.9

54.8 51.8 50.8 50.9

255.4 253.7 256.2 259.3

... ... ... ...

10.0 10.5 10.8 11.1

120.3 122.1 123.7 124.9

-125.6 -125.3 -123.9 -129.5

135.1 131.6 132.5 134.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 358.3 1 360.7 1 376.9 1 388.5

880.9 888.4 899.1 906.5

477.4 472.3 477.8 482.0

-67.8 -26.1 -13.8 12.5

45.9 54.9 54.3 50.8

259.7 259.3 266.7 263.6

... ... ... ...

11.1 11.2 11.3 11.4

126.5 127.7 128.9 130.0

-166.2 -114.1 -108.6 -81.8

133.2 131.6 137.8 133.6

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 408.1 1 429.0 1 449.7 1 475.9

914.9 925.9 936.9 948.0

493.2 503.1 512.7 528.0

-6.5 -1.6 -19.3 4.0

50.9 49.3 56.7 50.7

262.8 271.5 272.1 276.1

... ... ... ...

11.5 11.7 11.8 12.0

131.5 134.6 136.4 138.6

-98.3 -100.8 -110.1 -94.8

131.3 136.9 135.7 137.5

1Includes

general government intermediate inputs for goods and services sold to other sectors and for own-account investment. . . . = Not available.

127

CHAPTER 6: GOVERNMENT

Table 6-11. Chain-Type Quantity Indexes for State and Local Government Consumption Expenditures and Gross Investment (Index numbers, 2000 = 100.)

NIPA Tables 3.9.3, 3.10.3 State and local government consumption expenditures and gross investment Consumption expenditures 1

Gross investment Less

Year and quarter Total Total

CompenConsumpIntermediate sation of tion of goods and general general Ownservices government government account 2 purchased employees fixed capital investment

Sales to other sectors

Total

Total

Tuition and related educational charges

Health and hospital charges

Structures

Equipment and software

1946 1947 1948 1949

................................. ................................. ................................. .................................

11.6 13.2 14.0 16.2

14.2 15.2 15.3 16.7

18.4 19.8 20.3 21.8

10.7 10.8 11.0 11.4

5.8 6.5 6.4 7.6

6.1 10.3 12.9 17.2

6.6 7.5 7.7 8.8

3.8 4.2 5.0 5.7

4.8 4.6 5.4 6.1

5.8 8.9 11.3 15.3

7.8 12.0 15.2 21.1

1.4 2.0 2.6 2.7

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

17.5 17.6 17.9 18.8 20.5

17.7 17.7 17.9 18.5 19.3

22.5 23.0 23.8 24.8 25.9

11.9 12.4 12.9 13.4 14.1

8.7 8.1 7.9 7.9 8.2

18.1 20.2 23.8 22.6 23.6

9.6 9.4 9.6 10.0 10.6

5.6 5.6 5.9 6.3 6.9

5.8 5.9 6.0 6.3 6.9

17.3 17.9 18.3 19.9 23.8

24.2 25.0 25.5 27.8 33.4

2.7 2.9 3.1 3.3 3.6

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

21.9 22.6 24.0 26.0 27.0

20.6 21.3 22.4 24.2 25.2

27.0 28.8 30.3 32.2 33.4

14.9 15.7 16.7 17.7 18.7

9.3 9.0 9.4 10.8 11.6

23.3 26.1 26.4 28.3 38.3

11.7 12.2 12.9 14.4 15.2

7.7 8.8 10.1 11.5 12.3

7.7 8.8 10.0 12.6 13.2

25.9 26.5 28.4 31.2 32.1

36.6 37.2 39.3 43.6 44.8

3.5 4.0 4.9 4.9 5.2

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

28.2 29.9 30.8 32.7 34.9

26.6 28.1 28.9 30.3 32.3

35.2 37.0 38.2 40.2 42.6

19.8 20.9 22.0 23.3 24.7

12.2 13.1 13.6 14.5 15.8

35.9 37.6 40.0 44.9 44.4

15.7 16.8 18.7 20.5 22.5

13.6 14.9 16.9 19.3 22.6

12.2 12.5 14.6 15.2 16.4

32.5 35.1 36.4 39.6 42.4

44.9 48.6 50.2 54.4 58.0

5.9 6.0 6.5 7.4 8.4

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

37.3 39.6 41.6 44.0 45.5

34.4 36.5 38.2 40.7 43.3

45.2 47.9 49.7 52.7 55.1

26.3 28.0 29.8 31.6 33.3

17.4 18.8 20.3 22.3 24.7

45.6 48.1 46.7 49.2 49.5

25.0 27.3 30.1 33.0 34.5

26.2 29.7 33.1 37.2 41.0

18.7 21.3 24.2 28.3 29.3

45.4 48.4 51.4 53.7 51.5

62.1 66.0 70.2 73.4 69.5

9.0 9.9 10.3 10.8 11.6

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

46.8 48.2 49.3 50.7 52.6

45.9 48.1 49.9 51.7 54.0

57.5 59.8 61.9 64.1 66.4

34.9 36.3 37.6 38.9 40.3

27.2 29.7 31.5 32.6 34.4

50.1 50.1 48.8 47.4 50.5

36.2 39.5 42.3 44.2 44.2

47.7 53.7 57.0 61.5 61.3

29.8 34.7 39.8 44.1 45.5

48.3 46.9 45.4 45.6 46.0

64.4 62.2 59.2 58.7 58.5

12.1 12.3 13.7 15.3 16.7

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

54.5 54.9 55.1 56.9 57.8

56.7 57.5 58.6 59.7 60.1

68.4 69.2 70.2 71.8 73.0

41.6 42.8 43.8 44.7 45.8

37.1 38.2 39.3 40.3 40.3

47.6 42.0 38.3 41.3 47.7

44.6 47.1 48.6 50.9 53.2

61.4 63.4 66.0 69.6 71.5

46.7 49.7 50.6 54.1 58.7

45.6 44.8 42.1 45.9 48.2

58.1 57.0 53.2 58.3 60.8

16.4 16.1 15.8 16.7 18.3

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

57.7 56.6 56.6 57.3 59.3

60.0 59.8 60.7 61.4 62.5

73.9 73.7 74.0 73.5 73.8

47.0 48.0 48.9 49.8 51.1

39.0 39.3 41.0 43.6 45.4

49.7 47.5 47.9 47.5 52.8

54.1 56.4 58.1 60.2 60.0

73.9 75.5 75.4 77.8 77.7

59.2 62.9 64.8 66.4 64.9

48.4 44.3 41.6 42.1 47.3

60.5 54.6 50.1 49.6 55.0

19.5 19.4 20.6 23.5 27.5

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

63.0 67.1 68.0 70.6 73.0

65.8 69.9 70.8 73.2 75.4

75.8 77.9 79.2 81.9 84.2

52.9 55.0 57.1 59.5 62.4

50.1 56.7 56.6 58.1 59.9

57.0 61.0 62.3 65.2 72.8

62.0 64.1 65.1 66.4 68.2

77.7 78.3 78.8 81.3 83.8

66.4 68.1 68.1 68.2 68.7

52.4 56.0 57.4 60.4 63.7

60.3 64.1 65.5 68.4 69.8

31.9 34.9 36.4 39.4 46.8

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

76.0 77.6 79.3 80.5 82.5

77.8 79.4 81.3 83.0 85.1

86.5 87.3 88.5 89.5 90.8

65.7 68.9 71.9 74.7 77.4

61.8 64.7 68.1 71.4 74.9

76.3 79.7 78.9 78.5 79.3

69.5 71.8 75.0 78.6 81.4

85.6 87.0 88.7 87.6 87.7

69.4 72.4 76.6 81.1 84.3

68.7 70.3 71.2 70.5 72.5

75.0 77.5 77.8 76.0 76.6

51.1 50.5 52.9 54.7 60.2

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

84.7 86.7 89.8 93.0 97.4

87.0 88.6 91.0 94.4 98.1

92.4 93.6 95.3 96.9 98.3

80.3 83.3 86.8 90.9 95.4

77.7 79.5 83.4 90.0 96.6

80.4 81.4 89.0 90.7 94.6

84.4 86.0 88.9 92.9 95.2

88.0 88.2 90.3 92.9 96.1

88.1 87.7 89.8 94.9 95.6

75.7 79.1 84.9 87.4 94.6

79.2 83.1 88.5 88.4 94.9

64.7 66.7 73.7 84.1 93.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

100.0 103.2 106.4 107.0 107.5

100.0 102.6 105.6 106.3 106.7

100.0 102.1 103.8 104.5 105.0

100.0 104.5 109.0 112.3 115.6

100.0 105.5 110.8 111.8 113.8

100.0 109.1 108.8 106.3 106.6

100.0 106.8 110.3 112.9 117.3

100.0 106.6 107.7 108.9 108.7

100.0 108.9 114.2 118.1 125.4

100.0 105.7 109.4 110.3 110.6

100.0 105.7 109.9 110.4 109.5

100.0 105.5 107.1 109.9 115.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.8 106.0 106.5 107.1

104.8 105.5 105.9 106.3

103.5 103.7 103.9 104.1

107.4 108.6 109.6 110.4

109.5 110.5 111.3 111.9

110.5 108.6 108.2 108.1

109.8 110.1 110.4 110.9

108.2 107.5 107.3 107.8

113.5 114.0 114.4 114.8

109.8 108.4 109.1 110.2

110.4 108.8 109.5 111.0

107.2 106.8 107.5 106.7

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

106.9 106.8 107.4 107.1

106.3 106.3 106.2 106.3

104.4 104.4 104.5 104.7

111.1 111.9 112.7 113.5

111.5 111.7 111.9 112.1

105.9 105.5 107.6 106.3

111.5 112.4 113.2 114.3

109.0 109.3 108.6 108.7

115.8 117.1 118.8 120.5

109.4 109.1 112.1 110.5

109.9 109.2 112.4 110.1

107.7 108.7 110.9 112.4

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

106.9 107.4 107.6 108.1

106.3 106.5 106.9 107.3

104.7 104.8 105.1 105.5

114.3 115.2 116.1 116.9

112.6 113.3 114.2 115.1

105.3 107.7 106.6 107.0

115.7 116.7 117.8 119.1

109.0 108.9 108.5 108.3

122.4 124.3 126.3 128.4

109.5 111.1 110.6 111.2

108.6 110.3 109.4 109.8

113.5 114.7 116.0 117.5

1Excludes government sales to other sectors and government own-account investment (construction and software). 2Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.

128

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-12. State Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars.) Current receipts Current tax receipts Year

Personal current taxes

Total 1 Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1959 .................................

21.8

16.7

3.1

2.0

12.5

10.0

0.5

2.0

1.1

0.4

0.5

0.3

0.2

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

23.5 25.2 27.5 29.6 32.3

18.1 19.3 21.0 22.4 24.5

3.4 3.7 4.0 4.3 4.9

2.3 2.5 2.8 3.1 3.6

13.5 14.4 15.4 16.4 17.7

10.8 11.6 12.6 13.4 14.5

0.5 0.5 0.6 0.6 0.6

2.2 2.3 2.3 2.4 2.6

1.2 1.3 1.5 1.6 1.8

0.5 0.5 0.5 0.6 0.7

0.5 0.6 0.6 0.6 0.7

0.4 0.4 0.4 0.4 0.4

0.2 0.2 0.2 0.2 0.2

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

35.8 42.3 46.5 54.7 62.6

26.9 30.2 32.7 38.6 44.0

5.4 6.4 7.0 8.8 10.8

3.9 4.8 5.3 6.9 8.6

19.6 21.7 23.3 26.7 29.9

16.1 18.0 19.4 22.8 25.7

0.7 0.7 0.7 0.8 0.9

2.8 3.0 3.1 3.2 3.3

1.9 2.2 2.5 3.1 3.4

0.8 0.8 0.9 0.9 1.0

0.8 0.9 1.1 1.7 2.1

0.5 0.6 0.8 1.4 1.8

0.3 0.3 0.3 0.3 0.3

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

70.1 79.4 96.3 104.5 113.5

48.1 53.8 63.5 70.2 75.9

12.0 13.4 17.9 19.8 21.1

9.6 11.0 15.2 16.8 18.0

32.7 36.3 40.7 44.7 48.4

28.2 31.4 35.2 38.8 42.0

0.9 1.0 1.1 1.2 1.1

3.6 3.9 4.4 4.7 5.3

3.5 4.0 5.0 5.7 6.3

1.1 1.2 1.3 1.5 1.7

2.5 2.7 2.9 3.9 5.0

2.2 2.3 2.5 3.3 4.4

0.3 0.4 0.4 0.5 0.6

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

127.4 143.4 160.0 179.3 197.3

81.9 93.8 105.1 117.4 128.9

23.2 27.0 30.9 35.6 38.9

19.9 23.4 27.2 31.6 34.6

51.8 57.7 63.4 70.3 77.1

44.7 49.9 55.0 60.8 65.7

1.4 1.5 1.5 1.9 2.3

5.6 6.3 6.9 7.6 9.0

6.9 9.1 10.8 11.5 12.9

1.8 2.2 2.8 3.4 3.9

5.6 5.3 6.1 7.4 10.3

5.0 4.7 5.4 6.7 9.2

0.6 0.6 0.6 0.6 1.1

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

218.7 239.5 247.9 272.9 308.2

140.9 155.6 162.3 180.5 205.4

43.7 48.5 52.3 58.9 68.2

39.1 43.6 47.0 53.2 61.9

83.4 92.7 97.0 106.8 119.7

70.0 76.5 80.3 90.0 100.9

2.6 2.7 2.8 3.0 3.4

10.8 13.6 13.9 13.8 15.5

13.7 14.5 13.1 14.9 17.4

3.6 3.9 4.0 4.1 4.7

13.4 15.6 17.5 19.5 22.4

11.2 13.2 15.3 17.2 19.8

2.0 2.2 2.1 2.2 2.5

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

333.1 359.3 380.4 408.8 441.4

220.9 234.1 253.6 269.5 288.1

73.2 78.3 87.5 90.4 102.4

66.1 70.7 79.1 81.5 92.9

129.0 134.9 144.3 155.2 163.5

109.0 115.8 124.6 135.1 142.3

3.5 3.6 3.7 3.8 4.3

16.5 15.6 16.0 16.3 17.0

18.7 20.8 21.8 23.8 22.2

4.9 6.0 7.2 8.4 9.0

25.9 27.3 28.2 30.5 32.4

23.1 24.5 25.5 27.7 29.8

2.6 2.7 2.6 2.7 2.4

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

476.5 512.3 559.7 593.9 630.1

305.4 314.1 338.6 356.9 380.2

109.6 111.8 120.6 126.3 132.1

99.6 101.4 109.0 114.9 120.2

175.4 180.8 195.9 206.3 220.8

152.5 157.5 169.7 179.4 191.7

4.6 4.9 6.1 5.9 7.0

18.3 18.3 20.1 21.0 22.1

20.4 21.5 22.1 24.3 27.3

10.0 11.6 13.1 14.1 14.5

33.9 34.4 33.9 32.6 33.8

31.3 31.4 30.7 29.5 30.5

2.3 2.6 2.7 2.5 2.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

662.8 696.0 731.1 777.5 826.2

401.4 425.9 449.0 480.7 508.0

140.9 150.9 162.7 180.4 192.5

128.4 138.6 149.7 166.8 178.4

231.3 245.0 255.4 268.8 283.0

200.5 211.8 221.3 233.3 245.9

7.2 8.2 8.1 8.5 9.1

23.6 25.0 26.0 27.0 27.9

29.1 30.0 30.8 31.6 32.5

13.6 12.5 10.8 10.4 9.8

36.6 39.2 41.6 43.1 46.7

33.1 35.1 37.4 39.0 42.4

2.6 2.7 2.7 2.4 2.6

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

884.5 922.0 938.4 989.1 1 062.5

540.7 547.2 536.1 561.7 609.1

213.6 219.9 198.5 201.9 221.3

199.2 205.5 183.7 185.9 204.4

294.8 300.1 308.6 328.2 350.6

255.5 259.6 267.3 281.9 300.2

7.8 7.9 7.6 8.9 9.2

31.6 32.6 33.6 37.5 41.2

32.3 27.2 29.0 31.7 37.2

11.0 13.6 15.8 17.5 19.7

48.7 46.6 42.4 41.4 42.7

43.2 41.0 36.7 35.0 35.8

3.6 3.7 3.7 4.2 4.5

1Includes

components not shown separately.

CHAPTER 6: GOVERNMENT

129

Table 6-12. State Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars.) Current receipts—Continued

Current expenditures

Net state government saving, NIPA (surplus + / deficit -)

Current transfer receipts Year Total

Federal grants-inaid

Local grants-inaid

From business (net)

From persons

Total 1

GovernGrants-inConsumpment social aid to local tion expenbenefits to governditures persons ments

Interest payments

Total

Social insurance funds

Other

1959 .................................

3.8

3.4

0.2

0.0

0.1

20.8

8.6

3.6

7.7

0.8

1.0

0.0

1.0

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

3.9 4.4 4.9 5.4 5.9

3.5 4.0 4.4 4.9 5.4

0.2 0.3 0.3 0.3 0.3

0.0 0.0 0.1 0.1 0.1

0.1 0.1 0.2 0.2 0.2

22.6 24.5 26.6 28.9 31.4

9.3 9.9 10.7 11.6 12.5

3.8 4.1 4.4 4.7 5.1

8.6 9.4 10.3 11.3 12.4

0.9 0.9 1.0 1.1 1.2

0.9 0.8 0.9 0.7 0.9

0.0 0.0 0.0 0.0 0.0

0.9 0.8 0.9 0.6 0.9

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

6.7 9.6 11.1 12.6 14.6

6.1 8.9 10.3 11.6 13.3

0.3 0.4 0.5 0.6 0.8

0.1 0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3 0.4

35.1 40.2 46.4 53.6 61.4

13.9 15.6 17.9 20.2 23.2

5.5 6.4 7.7 9.5 10.8

14.3 16.7 19.1 22.0 25.4

1.3 1.4 1.6 1.8 1.8

0.6 2.1 0.0 1.0 1.1

0.1 0.1 0.1 0.1 0.2

0.5 2.0 -0.1 0.9 1.0

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

17.6 21.0 27.6 27.9 30.0

16.2 19.4 25.8 25.8 27.6

0.9 1.0 1.1 1.2 1.3

0.1 0.1 0.2 0.2 0.2

0.4 0.4 0.5 0.7 0.8

71.3 81.1 90.6 101.2 114.3

26.7 29.8 32.5 36.5 43.6

12.9 15.3 17.5 19.4 19.9

29.2 33.0 36.9 41.1 45.9

2.2 2.8 3.2 3.6 4.1

-1.2 -1.7 5.8 3.3 -0.8

0.2 0.2 0.3 0.3 0.4

-1.3 -2.0 5.5 3.0 -1.1

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

36.9 40.8 44.6 49.5 52.4

33.9 37.1 40.6 45.2 48.3

1.7 2.3 2.4 2.5 2.2

0.2 0.3 0.3 0.3 0.4

1.0 1.2 1.4 1.5 1.6

132.3 145.1 157.4 171.8 191.9

51.0 55.6 60.6 64.7 72.0

24.2 26.9 29.1 32.0 35.4

51.4 56.2 60.7 67.3 75.4

4.7 5.3 5.8 6.3 7.3

-4.9 -1.8 2.5 7.5 5.3

0.5 0.6 1.0 1.5 1.8

-5.4 -2.4 1.6 6.0 3.6

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

59.2 62.8 61.9 66.0 72.1

54.7 57.7 56.0 58.6 63.3

2.3 2.7 3.1 4.2 5.0

0.4 0.5 0.6 0.6 0.8

1.7 2.0 2.3 2.6 3.0

216.5 238.7 255.9 273.7 297.3

81.2 89.8 96.6 102.6 110.2

41.3 46.7 51.0 55.9 59.8

83.8 90.4 94.5 99.0 108.7

8.2 9.4 11.3 13.5 15.5

2.2 0.8 -8.0 -0.8 10.9

1.3 1.3 1.2 1.2 1.4

0.9 -0.5 -9.2 -2.0 9.5

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

76.9 86.7 85.8 93.9 104.6

67.3 74.5 74.9 82.1 91.5

5.2 5.3 5.5 5.6 5.8

0.9 2.8 0.9 1.1 1.3

3.6 4.1 4.5 5.2 5.9

326.0 350.2 375.2 404.6 437.7

121.2 131.3 138.2 148.8 158.1

65.2 71.4 77.4 84.4 94.4

120.0 128.9 137.8 148.1 159.5

16.3 15.0 17.6 18.4 20.6

7.1 9.0 5.2 4.3 3.6

1.3 1.9 2.2 2.5 2.3

5.8 7.2 3.1 1.7 1.3

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

119.5 144.2 165.4 180.9 191.7

104.7 124.6 141.8 155.8 164.9

6.2 7.6 9.0 10.1 11.0

1.6 2.0 2.6 2.9 3.4

6.9 10.0 12.1 12.1 12.4

479.6 528.4 570.4 604.3 639.5

171.4 179.0 186.1 195.9 206.5

111.0 137.6 159.5 173.6 184.4

169.4 181.9 194.8 206.0 218.9

22.3 24.1 24.0 22.9 23.5

-3.1 -16.1 -10.7 -10.4 -9.4

2.0 2.4 3.1 4.2 4.6

-5.1 -18.5 -13.8 -14.6 -14.0

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

200.4 206.8 217.5 231.3 250.0

173.0 177.7 184.5 194.9 212.5

11.1 12.0 13.5 13.3 12.9

4.1 5.0 6.6 9.8 9.9

12.2 12.0 13.0 13.2 14.7

672.6 699.4 729.1 773.5 837.6

215.2 221.2 232.1 249.0 273.3

194.8 202.5 206.8 214.6 230.3

231.6 242.4 255.1 273.9 297.2

24.3 25.6 26.5 27.1 27.6

-9.8 -3.4 2.0 4.0 -11.4

4.0 2.8 1.2 1.7 1.7

-13.9 -6.2 0.8 2.3 -13.2

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

273.4 304.2 334.3 358.7 380.9

227.4 254.3 280.6 302.5 320.6

14.0 14.9 15.5 16.4 17.1

14.7 15.5 16.3 16.4 17.2

17.3 19.5 21.9 23.4 26.0

898.7 977.4 1 029.3 1 071.6 1 130.4

291.5 309.0 326.2 332.6 341.0

248.7 281.3 306.6 324.6 352.6

319.4 337.5 352.6 370.9 391.8

29.3 32.2 32.2 31.5 31.8

-14.2 -55.4 -90.9 -82.5 -67.8

2.0 2.6 1.7 1.3 1.8

-16.2 -58.0 -92.6 -83.7 -69.7

1Includes

components not shown separately.

130

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-13. Local Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars.) Current receipts Current tax receipts Year

Personal current taxes

Total 1 Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1959 .................................

26.9

17.1

0.8

0.2

16.4

1.2

14.3

0.9

0.0

...

0.7

0.5

0.1

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

29.9 32.6 35.2 38.2 41.8

18.8 20.3 21.8 23.4 25.3

0.8 0.9 1.0 1.1 1.2

0.3 0.3 0.3 0.4 0.5

18.0 19.4 20.8 22.3 24.1

1.3 1.4 1.5 1.6 1.9

15.7 17.0 18.4 19.7 21.1

0.9 1.0 1.0 1.0 1.1

0.0 0.0 0.0 0.0 0.0

... ... ... ... ...

0.8 0.9 1.0 1.0 1.3

0.7 0.7 0.8 0.9 1.1

0.1 0.2 0.2 0.2 0.2

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

45.5 49.9 55.8 61.7 69.2

27.0 28.5 31.3 34.8 38.4

1.2 1.4 1.6 1.7 2.0

0.5 0.6 0.8 0.9 1.1

25.7 27.1 29.5 32.8 36.1

2.1 2.0 1.9 2.3 2.9

22.5 23.8 26.2 29.1 31.9

1.1 1.3 1.3 1.4 1.4

0.0 0.0 0.2 0.3 0.3

... ... ... ... ...

1.4 1.7 2.0 1.7 2.2

1.2 1.4 1.6 1.4 1.8

0.2 0.3 0.3 0.4 0.4

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

80.3 89.8 100.5 112.8 122.6

43.2 47.9 52.0 56.1 60.2

2.3 2.5 3.0 3.0 3.4

1.3 1.5 2.0 2.0 2.3

40.6 45.2 48.8 52.7 56.4

3.5 4.0 4.6 5.2 6.1

35.7 39.5 42.2 45.2 47.9

1.5 1.8 2.0 2.3 2.4

0.2 0.3 0.3 0.3 0.3

... ... ... ... ...

2.6 2.8 3.0 3.9 5.2

2.2 2.3 2.4 3.3 4.5

0.5 0.5 0.6 0.6 0.7

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

136.5 150.1 164.5 179.6 190.4

65.5 71.9 78.6 80.8 83.1

3.7 4.1 4.5 4.9 5.1

2.5 2.8 3.2 3.4 3.6

61.4 67.3 73.6 75.3 77.3

7.0 7.9 9.0 10.2 11.5

51.9 56.7 61.7 61.8 62.1

2.5 2.7 2.9 3.3 3.7

0.4 0.5 0.6 0.6 0.6

... ... ... ... ...

5.6 5.1 5.6 7.2 9.8

4.9 4.4 4.9 6.5 8.9

0.7 0.7 0.7 0.7 0.9

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

207.6 226.1 243.7 261.7 288.9

89.1 100.2 110.8 120.4 131.9

5.1 6.2 6.9 7.2 7.8

3.5 4.3 4.9 5.1 5.6

83.3 93.0 103.0 112.1 122.7

12.8 14.3 15.9 17.7 20.1

66.2 74.4 82.5 88.9 96.3

4.2 4.3 4.6 5.5 6.3

0.7 1.0 1.0 1.0 1.4

... ... ... ... ...

12.9 16.4 19.2 21.9 25.2

11.8 15.3 17.8 19.8 22.8

1.1 1.1 1.4 2.1 2.4

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

316.8 340.9 358.5 386.1 417.2

142.8 155.4 168.5 183.3 199.9

8.2 8.9 9.1 11.7 12.3

6.0 6.8 6.8 9.1 9.4

133.1 144.7 157.3 169.4 185.6

22.1 24.1 25.7 27.2 30.1

104.0 112.6 122.7 132.7 145.6

7.0 8.1 8.9 9.4 10.0

1.5 1.8 2.1 2.2 2.1

... ... ... ... ...

29.0 31.1 29.9 30.0 33.3

26.2 27.5 27.2 28.3 31.6

2.7 3.5 2.7 1.7 1.7

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

443.3 473.1 496.7 516.1 550.0

213.7 230.2 241.2 247.8 264.0

12.9 13.5 14.7 14.8 15.9

10.0 10.3 11.4 11.3 12.0

198.7 214.5 224.2 230.5 245.4

31.8 33.2 34.6 37.0 39.7

157.0 171.1 178.6 181.3 192.4

9.9 10.2 11.0 12.1 13.3

2.1 2.2 2.3 2.6 2.7

... ... ... ... ...

34.5 33.6 30.9 28.7 29.4

32.7 31.6 28.8 26.7 27.4

1.8 1.9 2.0 2.1 2.0

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

577.9 610.4 644.6 682.9 730.9

270.7 283.7 300.9 314.2 332.4

17.2 17.8 19.3 20.9 21.9

13.3 13.7 14.9 16.2 17.1

251.0 262.9 278.4 290.0 307.1

42.2 44.4 47.4 50.6 55.6

195.3 204.2 215.5 222.5 233.7

13.4 14.4 15.6 16.9 17.8

2.6 3.0 3.3 3.3 3.3

... ... ... ... ...

31.8 34.1 36.2 37.8 38.6

29.8 32.2 34.2 35.6 36.0

2.0 2.0 2.1 2.2 2.5

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

779.2 814.9 851.9 899.7 941.9

352.6 368.6 392.9 410.9 438.5

23.1 22.9 22.8 23.7 26.0

18.0 17.6 17.1 17.8 19.6

326.2 342.7 366.9 383.5 408.2

61.1 61.6 62.8 66.0 70.2

246.8 261.4 282.6 294.6 313.7

18.3 19.8 21.5 23.0 24.3

3.3 3.0 3.2 3.6 4.3

... ... ... ... ...

43.5 42.1 35.8 33.5 34.4

40.8 39.3 32.9 30.4 31.1

2.7 2.8 2.9 3.1 3.3

1Includes

components not shown separately. . . . = Not available.

CHAPTER 6: GOVERNMENT

131

Table 6-13. Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars.) Current receipts—Continued

Current expenditures

Net local government saving, NIPA (surplus + / deficit -)

Current transfer receipts Year Total

1959 .................................

Federal grants-inaid

State grants-inaid

From business (net)

From persons

Total 1

GovernGrants-inConsumpment social aid to state tion expenbenefits to governditures persons ments

Interest payments

Total

Social insurance funds

Other

8.3

0.4

7.7

0.1

0.1

24.1

22.1

0.7

0.2

1.0

2.8

...

2.8

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

9.4 10.4 11.5 12.6 14.0

0.5 0.6 0.6 0.8 1.1

8.6 9.4 10.3 11.3 12.4

0.1 0.2 0.2 0.2 0.2

0.2 0.3 0.3 0.3 0.3

26.4 29.1 30.9 33.2 36.3

24.2 26.6 28.3 30.4 33.3

0.8 0.9 0.9 1.0 1.0

0.2 0.3 0.3 0.3 0.3

1.2 1.3 1.4 1.5 1.7

3.4 3.5 4.3 5.0 5.5

... ... ... ... ...

3.4 3.5 4.3 5.0 5.5

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

15.9 18.6 21.6 24.2 27.7

1.1 1.2 1.5 1.1 1.3

14.3 16.7 19.1 22.0 25.4

0.3 0.2 0.4 0.4 0.4

0.3 0.4 0.6 0.7 0.7

39.6 44.2 48.9 55.2 62.4

36.3 40.5 44.7 50.2 56.6

1.1 1.3 1.6 2.0 2.4

0.3 0.4 0.5 0.6 0.8

1.8 2.0 2.1 2.4 2.5

5.9 5.7 7.0 6.5 6.8

... ... ... ... ...

5.9 5.7 7.0 6.5 6.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

33.6 38.2 44.4 51.8 56.6

3.2 3.8 5.9 9.0 8.7

29.2 33.0 36.9 41.1 45.9

0.4 0.5 0.5 0.7 0.9

0.8 0.9 1.1 1.0 1.1

72.0 81.6 90.6 100.4 112.5

64.9 72.9 80.6 89.5 100.1

3.2 4.0 4.5 4.7 5.4

0.9 1.0 1.1 1.2 1.3

3.1 3.8 4.3 4.9 5.6

8.3 8.2 9.9 12.4 10.1

... ... ... ... ...

8.3 8.2 9.9 12.4 10.1

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

65.0 72.6 79.9 91.4 97.8

11.2 13.6 16.0 20.4 18.1

51.4 56.2 60.7 67.3 75.4

1.0 1.1 1.3 1.5 1.8

1.4 1.7 1.9 2.2 2.6

129.1 140.9 153.9 168.5 182.8

114.1 123.9 135.3 148.5 161.3

6.6 7.3 8.0 8.7 8.9

1.7 2.3 2.4 2.5 2.2

6.4 7.2 7.9 8.6 9.9

7.4 9.1 10.6 11.1 7.7

... ... ... ... ...

7.4 9.1 10.6 11.1 7.7

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

106.4 111.3 114.8 119.5 130.6

17.6 14.8 13.5 13.0 13.3

83.8 90.4 94.5 99.0 108.7

2.0 2.4 2.7 3.0 3.4

3.0 3.7 4.1 4.5 5.2

201.0 219.4 237.9 256.0 275.9

177.2 192.6 208.2 221.5 237.4

9.9 10.4 10.2 11.0 11.4

2.3 2.7 3.1 4.2 5.0

11.2 13.4 15.8 18.8 21.5

6.6 6.8 5.8 5.7 13.1

... ... ... ... ...

6.6 6.8 5.8 5.7 13.1

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

142.7 152.4 157.4 168.8 178.8

13.6 13.2 9.0 9.5 6.8

120.0 128.9 137.8 148.1 159.5

3.5 3.9 4.0 4.3 5.1

5.7 6.5 6.7 6.9 7.5

301.6 329.0 351.3 372.4 400.0

260.6 286.6 302.7 321.5 344.1

12.1 12.9 13.4 14.1 15.0

5.2 5.3 5.5 5.6 5.8

23.0 23.1 28.6 30.0 34.0

15.2 11.9 7.2 13.6 17.2

... ... ... ... ...

15.2 11.9 7.2 13.6 17.2

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

189.6 203.5 218.6 232.9 250.2

6.7 7.0 7.4 7.9 9.8

169.4 181.9 194.8 206.0 218.9

5.5 5.9 6.7 7.7 8.6

8.0 8.7 9.8 11.4 12.9

433.0 461.2 485.3 504.7 530.1

373.2 395.6 416.5 434.4 456.8

16.6 18.9 20.5 21.6 22.4

6.2 7.6 9.0 10.1 11.0

35.6 37.7 37.9 37.2 38.6

10.3 11.9 11.4 11.4 19.8

... ... ... ... ...

10.3 11.9 11.4 11.4 19.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

266.4 281.7 297.7 322.7 350.9

11.1 13.4 14.1 17.8 20.3

231.6 242.4 255.1 273.9 297.2

9.4 10.2 11.1 12.3 13.1

14.3 15.7 17.3 18.7 20.2

556.0 581.3 607.5 634.9 669.1

480.8 503.6 526.8 552.4 585.6

22.9 21.8 20.8 21.1 22.1

11.1 12.0 13.5 13.3 12.9

39.9 42.5 44.9 46.5 47.0

21.9 29.2 37.1 48.0 61.8

... ... ... ... ...

21.9 29.2 37.1 48.0 61.8

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

375.4 399.0 418.5 452.8 467.8

19.9 21.7 23.9 36.6 27.7

319.4 337.5 352.6 370.9 391.8

14.2 15.8 16.4 17.7 18.3

21.9 23.9 25.6 27.7 30.0

715.0 754.7 795.2 841.0 879.9

626.3 660.7 699.2 742.2 776.7

23.0 24.0 25.4 26.7 27.9

14.0 14.9 15.5 16.4 17.1

50.2 53.4 53.8 54.7 57.0

64.2 60.2 56.7 58.7 62.0

... ... ... ... ...

64.2 60.2 56.7 58.7 62.0

1Includes

components not shown separately. . . . = Not available.

132

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-14. State Government Consumption Expenditures and Gross Investment by Function (National income and product accounts, calendar years, billions of dollars.) Consumption expenditures and gross investment Public order and safety Year Total 1

General public service

Total 1

Prisons

Economic affairs Total 1

Transportation

Housing and community services

Education Health Total 1

Elementary and secondary

Income security Higher

Total 1

Welfare and social services

1959 .................................

15.4

1.2

0.8

0.5

8.7

7.2

0.0

1.8

2.6

0.2

2.1

0.4

0.3

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

15.5 17.0 18.2 20.1 21.6

1.3 1.4 1.4 1.5 1.8

0.9 0.9 1.0 1.1 1.2

0.5 0.5 0.5 0.6 0.6

8.3 9.2 9.8 10.7 11.2

6.7 7.4 8.0 8.9 9.1

0.0 0.0 0.0 0.0 0.0

1.8 2.0 2.0 2.2 2.4

2.8 3.2 3.6 4.2 4.7

0.2 0.2 0.2 0.2 0.2

2.3 2.6 3.0 3.6 4.0

0.4 0.3 0.4 0.4 0.4

0.3 0.3 0.3 0.3 0.4

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

23.6 26.6 29.7 32.6 36.2

2.0 2.4 2.6 3.1 3.9

1.3 1.4 1.6 1.8 2.1

0.7 0.7 0.8 0.9 1.0

11.9 13.2 14.1 15.1 16.0

9.7 10.8 11.3 12.2 12.8

0.0 0.0 0.0 0.0 0.0

2.5 2.7 3.0 3.3 3.8

5.3 6.4 7.6 8.4 9.4

0.2 0.3 0.4 0.4 0.4

4.4 5.2 6.2 6.7 7.5

0.5 0.6 0.7 0.8 1.0

0.4 0.5 0.6 0.8 0.9

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

40.8 44.9 48.1 52.8 61.3

4.0 4.4 4.8 5.8 6.9

2.4 2.7 3.1 3.5 4.1

1.2 1.3 1.5 1.7 2.0

17.9 19.3 19.8 20.7 24.2

14.4 15.4 15.7 16.3 19.2

0.0 0.0 0.0 0.0 0.0

4.4 5.0 5.3 5.5 6.5

10.8 11.9 13.1 14.7 16.4

0.5 0.5 0.5 0.5 0.5

8.5 9.3 10.2 11.7 13.0

1.2 1.5 1.8 2.4 2.9

1.1 1.4 1.7 2.2 2.7

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

68.9 73.4 77.8 86.1 97.6

7.9 8.3 9.0 9.9 11.6

4.7 5.2 5.8 6.9 8.2

2.3 2.7 3.1 3.6 4.2

26.4 26.6 27.1 29.9 34.4

20.8 20.3 20.5 22.6 26.3

0.3 0.2 0.2 0.3 0.3

7.4 8.1 9.0 9.9 11.0

18.2 20.2 21.3 22.9 25.3

0.7 0.7 0.7 0.9 1.0

14.1 15.8 16.7 18.1 20.1

3.5 4.1 4.7 5.4 6.0

3.3 3.9 4.4 5.1 5.7

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

110.0 119.1 125.9 133.1 146.3

13.6 14.4 15.2 16.9 19.3

9.5 10.6 12.1 13.5 15.2

4.8 5.5 6.5 7.4 8.4

38.6 41.3 42.8 44.7 49.3

29.3 31.1 31.9 33.6 37.5

0.4 0.3 0.3 0.2 0.2

12.7 13.6 14.2 13.9 14.7

28.1 31.0 33.1 34.5 37.2

1.1 1.2 1.2 1.1 1.2

22.4 25.1 27.0 28.4 30.9

6.3 7.0 7.4 8.5 9.3

6.0 6.6 7.0 8.1 8.8

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

161.5 174.1 185.4 198.0 210.8

21.4 24.0 25.8 26.6 28.6

17.5 19.3 21.5 23.9 26.6

10.0 11.3 12.7 14.2 16.1

53.8 57.6 60.7 64.1 65.4

41.2 43.9 46.2 48.7 48.9

0.2 0.3 0.5 0.8 1.1

16.0 17.0 18.3 19.7 20.7

41.2 43.9 45.7 48.8 52.7

1.3 1.4 1.5 1.6 1.8

34.3 36.6 37.7 40.4 43.4

10.1 10.7 11.4 12.5 13.7

9.6 10.1 10.7 11.7 12.8

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

228.8 238.4 246.9 258.9 274.2

30.5 31.8 33.0 34.2 36.5

30.3 32.5 34.0 36.2 39.4

18.6 20.1 21.0 22.6 25.0

70.7 72.9 75.6 78.9 82.9

52.9 54.4 56.0 58.4 61.9

1.4 1.7 1.9 2.0 2.2

22.3 22.4 21.7 21.8 21.6

56.2 57.9 60.1 63.5 66.7

2.0 2.2 2.4 2.4 2.3

46.3 47.9 49.6 52.6 55.4

15.3 16.9 18.5 20.2 22.6

14.2 15.6 17.0 18.5 20.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

287.1 295.8 310.3 323.9 351.4

37.4 37.7 40.9 43.4 47.4

42.8 45.5 48.5 50.5 55.1

27.2 28.8 30.4 31.1 33.7

85.9 89.1 93.6 98.0 106.6

64.1 67.1 71.1 75.4 82.3

2.5 2.3 2.2 2.3 2.6

22.0 21.8 20.5 18.9 21.2

69.6 71.2 74.5 78.5 83.6

2.7 3.0 3.2 3.4 3.6

57.3 58.2 61.1 64.3 68.5

24.4 25.3 27.1 29.3 31.7

22.2 22.9 24.4 26.3 28.8

2000 ................................. 2001 .................................

382.4 410.4

52.4 57.0

60.3 64.5

36.5 38.8

113.6 121.5

87.2 94.5

2.9 2.8

24.8 27.0

90.8 97.5

3.8 4.0

74.4 80.1

34.3 36.3

31.4 33.3

Note: These data have not been updated consistent with recent revisions in the NIPAs and are reprinted as they appeared in the 9th and 10th editions of Business Statistics. 1Includes

components not shown separately.

CHAPTER 6: GOVERNMENT

133

Table 6-15. Local Government Consumption Expenditures and Gross Investment by Function (National income and product accounts, calendar years, billions of dollars.) Consumption expenditures and gross investment Public order and safety Year Total 1

General public service

Total 1

Prisons

Economic affairs Total 1

Transportation

Housing and community services

Education Health Total 1

Elementary and secondary

Income security Higher

Total

Welfare and social services

1959 .................................

29.7

2.3

3.3

0.2

4.6

3.9

2.7

1.3

14.5

14.0

0.3

0.3

0.3

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

32.4 35.0 37.1 39.8 43.7

2.5 2.8 2.9 3.1 3.4

3.6 3.8 4.0 4.2 4.5

0.3 0.3 0.3 0.3 0.3

5.1 5.2 5.4 6.0 6.3

4.3 4.4 4.5 4.9 5.0

2.7 2.9 3.3 3.0 3.6

1.4 1.5 1.5 1.6 1.7

16.1 17.6 18.7 20.5 22.7

15.5 17.0 18.1 19.7 21.8

0.3 0.3 0.3 0.4 0.5

0.4 0.4 0.5 0.5 0.6

0.4 0.4 0.5 0.5 0.6

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

48.1 53.3 58.8 66.2 72.2

3.8 4.1 4.6 5.5 6.0

4.8 5.3 5.8 6.8 7.5

0.4 0.4 0.4 0.5 0.5

7.1 7.4 8.2 9.0 9.4

5.4 6.0 6.5 7.3 7.6

3.8 3.9 4.1 5.0 4.9

1.8 1.9 2.1 2.4 2.7

25.1 28.7 31.7 34.9 38.6

24.0 27.3 30.1 33.1 36.5

0.6 0.9 1.1 1.2 1.4

0.7 0.9 1.0 1.2 1.5

0.7 0.9 1.0 1.2 1.5

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

79.9 88.6 96.3 107.3 122.8

6.7 7.6 8.8 10.3 12.2

8.5 9.7 10.7 11.9 13.5

0.6 0.8 0.9 1.0 1.2

9.6 10.0 10.8 11.9 14.3

7.7 8.0 8.6 9.5 11.3

5.1 5.5 5.6 6.3 7.7

3.1 3.7 3.7 4.2 5.0

43.2 47.9 52.3 57.6 64.3

40.7 45.0 49.0 53.9 60.0

1.8 2.1 2.5 2.8 3.3

1.8 2.1 2.5 2.7 3.0

1.8 2.1 2.5 2.7 3.0

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

140.1 150.5 161.5 177.7 194.3

14.7 16.2 18.1 19.5 20.5

15.5 17.0 18.5 20.7 22.6

1.4 1.6 1.8 1.9 2.1

15.8 16.6 17.7 20.8 23.4

12.7 13.0 13.7 15.4 17.3

8.6 9.2 9.0 11.0 12.3

5.3 5.0 5.5 5.8 5.7

73.6 79.7 85.4 91.9 101.1

68.6 74.5 79.7 85.9 94.7

3.8 4.0 4.4 4.6 4.9

3.3 3.5 3.9 4.0 4.4

3.3 3.5 3.9 4.0 4.4

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

214.5 230.5 245.7 258.4 278.1

22.1 23.9 25.4 26.9 28.4

25.1 28.3 31.5 33.9 36.3

2.5 2.8 3.3 3.8 4.3

26.1 28.8 30.3 31.3 32.5

19.5 21.1 22.6 23.6 24.9

14.7 14.5 14.3 13.8 15.4

6.4 6.5 6.7 6.4 6.9

110.4 117.9 126.0 133.5 145.2

103.2 110.1 117.7 125.2 136.6

5.5 6.0 6.4 6.1 6.2

5.0 5.5 5.9 6.7 7.1

5.0 5.5 5.9 6.7 7.1

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

303.3 329.5 352.1 376.2 406.9

31.0 33.8 35.3 37.6 41.0

40.1 43.8 47.4 51.0 56.3

4.9 5.7 6.6 7.3 8.5

35.5 37.7 38.1 39.4 41.6

26.4 28.6 30.1 31.5 33.7

16.7 18.7 20.7 21.5 22.2

7.4 7.4 8.4 9.1 9.9

157.7 171.8 184.8 199.1 215.6

148.4 161.7 173.9 187.1 202.4

6.6 7.3 7.8 8.7 9.5

7.8 8.5 9.0 9.6 10.7

7.8 8.5 9.0 9.6 10.7

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

444.2 469.8 489.1 506.8 532.7

44.7 47.7 50.2 52.8 56.2

61.7 66.3 71.3 74.6 79.4

9.6 10.4 11.0 11.4 12.2

45.4 47.1 48.2 50.8 53.4

37.2 38.8 39.7 42.3 44.8

24.1 24.9 25.0 23.6 23.0

11.3 11.6 11.8 10.8 10.9

234.0 247.8 256.8 267.5 281.8

219.7 232.7 242.6 252.4 265.7

10.3 10.8 9.8 10.5 11.3

12.0 12.9 13.9 14.7 15.3

12.0 12.9 13.9 14.7 15.3

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

563.4 594.6 639.4 675.4 724.6

59.3 62.0 70.6 75.4 82.3

84.2 90.2 95.7 103.2 109.5

12.9 13.8 14.3 15.9 17.0

54.8 57.0 63.6 65.7 70.8

45.7 48.2 52.5 54.6 58.4

24.0 25.5 27.0 25.8 25.4

9.7 10.6 10.1 12.0 14.4

302.2 318.9 340.5 359.4 385.6

285.5 301.7 321.8 339.7 364.8

11.6 11.8 12.6 13.3 14.0

15.6 16.0 16.5 17.8 19.1

15.6 16.0 16.5 17.8 19.1

2000 ................................. 2001 .................................

779.3 819.5

89.9 90.5

118.5 127.9

18.4 19.6

76.2 77.4

61.3 64.9

23.9 25.4

16.4 16.9

415.1 439.8

392.8 416.5

15.0 15.6

21.1 22.5

21.1 22.5

Note: These data have not been updated consistent with recent revisions in the NIPAs and are reprinted as they appeared in the 9th and 10th editions of Business Statistics. 1Includes

components not shown separately.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Section 6c: Federal Government Budget Accounts

Figure 6-3. Defense Spending as a Percent of GDP, 1945–2004 40

30

Percent

134

20

10

0 1945

1950

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000 2004

Year • From fiscal year 2001 to fiscal year 2004, defense spending increased from 3.0 percent to 3.7 percent of GDP. This was similar to the increase at the beginning of the defense buildup of the 1980s, and less than the increases associated with the Korean and Vietnam Wars. The ratio remained low compared with the postwar “cold war” decades from 1950 through 1990. Defense outlays as defined in the budget data used in this table include both consumption and investment spending, but do not include an allowance for the consumption of fixed capital. (Table 6-16) • After declining between 1993 and 2001, federal debt held by the public as a percent of GDP increased in the subsequent three fiscal years. While the level of this ratio appears low by postwar standards, its direction of change may be more significant. Notably, the ratio was over 100 percent in 1945 and 1946, but its rapid decline in subsequent years meant that stability in the level of federal debt left room for the rapid expansion of private debt that financed the postwar boom. (Table 6-17) • Foreign and international investors financed the entire federal deficit incurred in fiscal year 2004 and, in addition, bought some of the debt from previous fiscal years. In other words, the increase in the amount of Treasury debt held by foreign investors in 2004 was greater than the amount of new debt financing securities sold by the Treasury during the year. At the end of 2004, foreign and international investors held $1.9 trillion of Treasury debt, 44 percent of the $4.3 trillion total debt held by the public. (Table 6-17)

CHAPTER 6: GOVERNMENT

135

Table 6-16. Federal Government Receipts and Outlays by Fiscal Year 1 (Budget accounts, millions of dollars.) Receipts, outlays, deficit, and financing Budget surplus or deficit (-) Year

1939 ..........................

Fiscal year GDP

Total receipts (net)

Total outlays (net)

Total

Receipts by source Social insurance taxes and contributions

Sources of financing, total

On-budget

Off-budget

Borrowing from the public

Other financing

Individual income taxes

Corporate income taxes

EmployUnemployment taxes ment and contriinsurance butions

Other retirement contributions

89 100

6 295

9 141

-2 846

-3 362

516

...

...

1 029

1 127

1940 1941 1942 1943 1944

.......................... .......................... .......................... .......................... ..........................

96 800 114 100 144 300 180 300 209 200

6 548 8 712 14 634 24 001 43 747

9 468 13 653 35 137 78 555 91 304

-2 920 -4 941 -20 503 -54 554 -47 557

-3 484 -5 594 -21 333 -55 595 -48 735

564 653 830 1 041 1 178

... 5 451 19 530 60 013 57 030

... -510 973 -5 459 -9 473

892 1 314 3 263 6 505 19 705

1 197 2 124 4 719 9 557 14 838

725 827 1 064 1 338 1 557

1 015 1 056 1 299 1 477 1 644

45 57 89 229 272

1945 1946 1947 1948 1949

.......................... .......................... .......................... .......................... ..........................

221 400 222 700 233 200 256 000 271 100

45 159 39 296 38 514 41 560 39 415

92 712 55 232 34 496 29 764 38 835

-47 553 -15 936 4 018 11 796 580

-48 720 -16 964 2 861 10 548 -684

1 167 1 028 1 157 1 248 1 263

50 386 6 679 -17 522 -8 069 -1 948

-2 833 9 257 13 504 -3 727 1 368

18 372 16 098 17 935 19 315 15 552

15 988 11 883 8 615 9 678 11 192

1 592 1 517 1 835 2 168 2 246

1 568 1 316 1 329 1 343 1 205

291 282 259 239 330

1950 1951 1952 1953 1954

.......................... .......................... .......................... .......................... ..........................

273 000 320 600 348 600 372 900 377 300

39 443 51 616 66 167 69 608 69 701

42 562 45 514 67 686 76 101 70 855

-3 119 6 102 -1 519 -6 493 -1 154

-4 702 4 259 -3 383 -8 259 -2 831

1 583 1 843 1 864 1 766 1 677

4 701 -4 697 432 3 625 6 116

-1 582 -1 405 1 087 2 868 -4 962

15 755 21 616 27 934 29 816 29 542

10 449 14 101 21 226 21 238 21 101

2 648 3 688 4 315 4 722 5 192

1 332 1 609 1 712 1 675 1 561

358 377 418 423 455

1955 1956 1957 1958 1959

.......................... .......................... .......................... .......................... ..........................

394 600 427 200 450 300 460 500 491 500

65 451 74 587 79 990 79 636 79 249

68 444 70 640 76 578 82 405 92 098

-2 993 3 947 3 412 -2 769 -12 849

-4 091 2 494 2 639 -3 315 -12 149

1 098 1 452 773 546 -700

2 117 -4 460 -2 836 7 016 8 365

876 513 -576 -4 247 4 484

28 747 32 188 35 620 34 724 36 719

17 861 20 880 21 167 20 074 17 309

5 981 7 059 7 405 8 624 8 821

1 449 1 690 1 950 1 933 2 131

431 571 642 682 770

1960 1961 1962 1963 1964

.......................... .......................... .......................... .......................... ..........................

517 900 530 800 567 600 598 700 640 400

92 492 94 388 99 676 106 560 112 613

92 191 97 723 106 821 111 316 118 528

301 -3 335 -7 146 -4 756 -5 915

510 -3 766 -5 881 -3 966 -6 546

-209 431 -1 265 -789 632

2 139 1 517 9 653 5 968 2 871

-2 440 1 818 -2 507 -1 212 3 044

40 715 41 338 45 571 47 588 48 697

21 494 20 954 20 523 21 579 23 493

11 248 12 679 12 835 14 746 16 959

2 667 2 903 3 337 4 112 3 997

768 857 875 946 1 007

1965 1966 1967 1968 1969

.......................... .......................... .......................... .......................... ..........................

687 100 752 900 811 800 866 600 948 600

116 817 130 835 148 822 152 973 186 882

118 228 134 532 157 464 178 134 183 640

-1 411 -3 698 -8 643 -25 161 3 242

-1 605 -3 068 -12 620 -27 742 -507

194 -630 3 978 2 581 3 749

3 929 2 936 2 912 22 919 -11 437

-2 518 762 5 731 2 242 8 195

48 792 55 446 61 526 68 726 87 249

25 461 30 073 33 971 28 665 36 678

17 358 20 662 27 823 29 224 34 236

3 803 3 755 3 575 3 346 3 328

1 081 1 129 1 221 1 354 1 451

1970 1971 1972 1973 1974

.......................... .......................... .......................... .......................... ..........................

1 012 200 1 079 900 1 178 300 1 307 600 1 439 300

192 807 187 139 207 309 230 799 263 224

195 649 210 172 230 681 245 707 269 359

-2 842 -23 033 -23 373 -14 908 -6 135

-8 694 -26 052 -26 068 -15 246 -7 198

5 852 3 019 2 695 338 1 063

5 090 19 839 19 340 18 533 2 789

-2 248 3 194 4 033 -3 625 3 346

90 412 86 230 94 737 103 246 118 952

32 829 26 785 32 166 36 153 38 620

39 133 41 699 46 120 54 876 65 888

3 464 3 674 4 357 6 051 6 837

1 765 1 952 2 097 2 187 2 347

1975 .......................... 1976 .......................... TQ 1 ........................... 1977 .......................... 1978 .......................... 1979 ..........................

1 560 700 1 736 500 456 700 1 974 300 2 217 000 2 500 700

279 090 298 060 81 232 355 559 399 561 463 302

332 332 371 792 95 975 409 218 458 746 504 028

-53 242 -73 732 -14 744 -53 659 -59 185 -40 726

-54 148 -69 427 -14 065 -49 933 -55 416 -39 633

906 -4 306 -679 -3 726 -3 770 -1 093

51 001 82 704 18 105 53 595 58 022 33 180

2 241 -8 972 -3 361 64 1 163 7 546

122 386 131 603 38 801 157 626 180 988 217 841

40 621 41 409 8 460 54 892 59 952 65 677

75 199 79 901 21 801 92 199 103 881 120 058

6 771 8 054 2 698 11 312 13 850 15 387

2 565 2 814 720 2 974 3 237 3 494

1980 1981 1982 1983 1984

.......................... .......................... .......................... .......................... ..........................

2 726 700 3 054 700 3 227 600 3 440 700 3 840 200

517 112 599 272 617 766 600 562 666 486

590 941 678 241 745 743 808 364 851 853

-73 830 -78 968 -127 977 -207 802 -185 367

-73 141 -73 859 -120 593 -207 692 -185 269

-689 -5 109 -7 384 -110 -98

71 617 77 487 135 165 212 693 169 707

2 213 1 481 -7 188 -4 891 15 660

244 069 285 917 297 744 288 938 298 415

64 600 61 137 49 207 37 022 56 893

138 748 162 973 180 686 185 766 209 658

15 336 15 763 16 600 18 799 25 138

3 719 3 984 4 212 4 429 4 580

1985 1986 1987 1988 1989

.......................... .......................... .......................... .......................... ..........................

4 141 500 4 412 400 4 647 100 5 008 600 5 400 500

734 088 769 215 854 353 909 303 991 190

946 396 990 430 1 004 082 1 064 455 1 143 646

-212 308 -221 227 -149 730 -155 178 -152 623

-221 529 -237 915 -168 357 -192 265 -205 377

9 222 16 688 18 627 37 087 52 754

200 285 233 363 149 130 161 863 139 100

12 023 -12 136 600 -6 685 13 523

334 531 348 959 392 557 401 181 445 690

61 331 63 143 83 926 94 508 103 291

234 646 255 062 273 028 305 093 332 859

25 758 24 098 25 575 24 584 22 011

4 759 4 742 4 715 4 658 4 546

1990 1991 1992 1993 1994

.......................... .......................... .......................... .......................... ..........................

5 735 400 5 935 100 6 239 900 6 575 500 6 961 300

1 031 969 1 055 041 1 091 279 1 154 401 1 258 627

1 253 165 1 324 369 1 381 655 1 409 489 1 461 877

-221 147 -269 269 -290 334 -255 085 -203 228

-277 738 -321 467 -340 422 -300 432 -258 882

56 590 52 198 50 087 45 347 55 654

220 842 277 441 310 738 248 659 184 669

305 -8 172 -20 404 6 426 18 559

466 884 467 827 475 964 509 680 543 055

93 507 98 086 100 270 117 520 140 385

353 891 370 526 385 491 396 939 428 810

21 635 20 922 23 410 26 556 28 004

4 522 4 568 4 788 4 805 4 661

1995 1996 1997 1998 1999

.......................... .......................... .......................... .......................... ..........................

7 325 800 7 694 100 8 182 400 8 627 900 9 125 300

1 351 830 1 453 062 1 579 292 1 721 798 1 827 454

1 515 802 1 560 535 1 601 250 1 652 585 1 701 891

-163 991 -107 473 -21 935 69 200 125 541

-226 406 -174 061 -103 299 -29 995 1 851

62 415 66 588 81 364 99 195 123 690

171 313 129 695 38 271 -51 245 -88 736

-7 322 -22 222 -16 336 -17 955 -36 805

590 244 656 417 737 466 828 586 879 480

157 004 171 824 182 293 188 677 184 680

451 045 476 361 506 751 540 014 580 880

28 878 28 584 28 202 27 484 26 480

4 550 4 469 4 418 4 333 4 473

2000 2001 2002 2003 2004

.......................... .......................... .......................... .......................... ..........................

9 709 800 10 057 900 10 389 200 10 838 800 11 552 800

2 025 218 1 991 194 1 853 173 1 782 342 1 880 071

1 789 067 1 863 033 2 010 972 2 159 917 2 292 215

236 151 128 161 -157 799 -377 575 -412 144

86 332 -32 520 -317 458 -538 408 -567 378

149 819 160 681 159 659 160 833 155 234

-222 559 -90 189 220 812 373 016 382 101

-13 592 -37 972 -63 013 4 559 30 043

1 004 462 994 339 858 345 793 699 808 959

207 289 151 075 148 044 131 778 189 371

620 451 661 442 668 547 674 981 689 360

27 640 27 812 27 619 33 366 39 453

4 761 4 713 4 594 4 631 4 594

1Fiscal

1 593

years through 1976 are from July 1 through June 30. Beginning with October 1976 (fiscal year 1977), fiscal years are from October 1 through September 30. The period from July 1 through September 30, 1976, is a separate fiscal period known as the transition quarter (TQ) and is not included in any fiscal year. . . . = Not available.

136

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-16. Federal Government Receipts and Outlays by Fiscal Year 1—Continued (Budget accounts, millions of dollars.) Receipts by source—Continued

Year Excise taxes

Estate and gift taxes

Customs deposits

Outlays by function

Miscellaneous receipts

International affairs

General science, space, and technology

Energy

Natural resources and environment

Agriculture

Commerce and housing credit

1939 ..........................

1 871

...

...

...

...

...

...

...

1940 1941 1942 1943 1944

.......................... .......................... .......................... .......................... ..........................

1 977 2 552 3 399 4 096 4 759

353 403 420 441 507

331 365 369 308 417

14 14 11 50 48

1 660 6 435 25 658 66 699 79 143

51 145 968 1 286 1 449

... ... 4 1 48

88 91 156 116 65

997 817 819 726 642

369 339 344 343 1 275

550 398 1 521 2 151 624

1945 1946 1947 1948 1949

.......................... .......................... .......................... .......................... ..........................

6 265 6 998 7 211 7 356 7 502

637 668 771 890 780

341 424 477 403 367

105 109 84 168 241

82 965 42 681 12 808 9 105 13 150

1 913 1 935 5 791 4 566 6 052

111 34 5 1 48

25 41 18 292 341

455 482 700 780 1 080

1 635 610 814 69 1 924

-2 630 -1 857 -923 306 800

1950 1951 1952 1953 1954

.......................... .......................... .......................... .......................... ..........................

7 550 8 648 8 852 9 877 9 945

698 708 818 881 934

407 609 533 596 542

247 261 359 379 429

13 724 23 566 46 089 52 802 49 266

4 673 3 647 2 691 2 119 1 596

55 51 49 49 46

327 383 474 425 432

1 308 1 310 1 233 1 289 1 007

2 049 -323 176 2 253 1 817

1 035 1 228 1 278 910 -184

1955 1956 1957 1958 1959

.......................... .......................... .......................... .......................... ..........................

9 131 9 929 10 534 10 638 10 578

924 1 161 1 365 1 393 1 333

585 682 735 782 925

341 427 573 787 662

42 729 42 523 45 430 46 815 49 015

2 223 2 414 3 147 3 364 3 144

74 79 122 141 294

325 174 240 348 382

940 870 1 098 1 407 1 632

3 514 3 486 2 288 2 411 4 509

92 506 1 424 930 1 933

1960 1961 1962 1963 1964

.......................... .......................... .......................... .......................... ..........................

11 676 11 860 12 534 13 194 13 731

1 606 1 896 2 016 2 167 2 394

1 105 982 1 142 1 205 1 252

1 212 918 843 1 022 1 086

48 130 49 601 52 345 53 400 54 757

2 988 3 184 5 639 5 308 4 945

599 1 042 1 723 3 051 4 897

464 510 604 530 572

1 559 1 779 2 044 2 251 2 364

2 623 2 641 3 562 4 384 4 609

1 618 1 203 1 424 62 418

1965 1966 1967 1968 1969

.......................... .......................... .......................... .......................... ..........................

14 570 13 062 13 719 14 079 15 222

2 716 3 066 2 978 3 051 3 491

1 442 1 767 1 901 2 038 2 319

1 594 1 876 2 107 2 491 2 909

50 620 58 111 71 417 81 926 82 497

5 273 5 580 5 566 5 301 4 600

5 823 6 717 6 233 5 524 5 020

699 612 782 1 037 1 010

2 531 2 719 2 869 2 988 2 900

3 954 2 447 2 990 4 544 5 826

1 157 3 245 3 979 4 280 -119

1970 1971 1972 1973 1974

.......................... .......................... .......................... .......................... ..........................

15 705 16 614 15 477 16 260 16 844

3 644 3 735 5 436 4 917 5 035

2 430 2 591 3 287 3 188 3 334

3 424 3 858 3 632 3 920 5 368

81 692 78 872 79 174 76 681 79 347

4 330 4 159 4 781 4 149 5 710

4 511 4 182 4 175 4 032 3 980

997 1 035 1 296 1 237 1 303

3 065 3 915 4 241 4 775 5 697

5 166 4 290 5 227 4 821 2 194

2 112 2 366 2 222 931 4 705

1975 .......................... 1976 .......................... TQ 1 ........................... 1977 .......................... 1978 .......................... 1979 ..........................

16 551 16 963 4 473 17 548 18 376 18 745

4 611 5 216 1 455 7 327 5 285 5 411

3 676 4 074 1 212 5 150 6 573 7 439

6 712 8 027 1 611 6 531 7 419 9 252

86 509 89 619 22 269 97 241 104 495 116 342

7 097 6 433 2 458 6 353 7 482 7 459

3 991 4 373 1 162 4 736 4 926 5 235

2 916 4 204 1 129 5 770 7 991 9 179

7 346 8 184 2 524 10 032 10 983 12 135

2 997 3 109 972 6 734 11 301 11 176

9 947 7 619 931 3 093 6 254 4 686

1980 1981 1982 1983 1984

.......................... .......................... .......................... .......................... ..........................

24 329 40 839 36 311 35 300 37 361

6 389 6 787 7 991 6 053 6 010

7 174 8 083 8 854 8 655 11 370

12 748 13 790 16 161 15 600 17 060

133 995 157 513 185 309 209 903 227 413

12 714 13 104 12 300 11 848 15 876

5 832 6 469 7 200 7 935 8 317

10 156 15 166 13 527 9 353 7 073

13 858 13 568 12 998 12 672 12 593

8 774 11 241 15 866 22 814 13 526

9 390 8 206 6 256 6 681 6 959

1985 1986 1987 1988 1989

.......................... .......................... .......................... .......................... ..........................

35 992 32 919 32 457 35 227 34 386

6 422 6 958 7 493 7 594 8 745

12 079 13 327 15 085 16 198 16 334

18 571 20 008 19 518 20 259 23 328

252 748 273 375 281 999 290 361 303 559

16 176 14 152 11 649 10 471 9 585

8 627 8 976 9 216 10 841 12 838

5 608 4 690 4 072 2 296 2 705

13 357 13 639 13 363 14 606 16 182

25 477 31 368 26 513 17 138 16 861

4 337 5 059 6 435 19 164 29 710

1990 1991 1992 1993 1994

.......................... .......................... .......................... .......................... ..........................

35 345 42 402 45 569 48 057 55 225

11 500 11 138 11 143 12 577 15 225

16 707 15 949 17 359 18 802 20 099

27 978 23 623 27 284 19 465 23 164

299 331 273 292 298 350 291 086 281 642

13 764 15 851 16 107 17 248 17 083

14 444 16 111 16 409 17 030 16 227

3 341 2 436 4 499 4 319 5 218

17 080 18 559 20 025 20 239 21 026

11 806 15 056 15 088 20 246 14 915

67 600 76 271 10 919 -21 853 -4 228

1995 1996 1997 1998 1999

.......................... .......................... .......................... .......................... ..........................

57 484 54 014 56 924 57 673 70 414

14 763 17 189 19 845 24 076 27 782

19 301 18 670 17 928 18 297 18 336

28 561 25 534 25 465 32 658 34 929

272 066 265 753 270 505 268 456 274 873

16 434 13 496 15 228 13 109 15 243

16 724 16 709 17 174 18 219 18 125

4 936 2 839 1 475 1 270 911

21 915 21 524 21 227 22 300 23 968

9 672 9 036 8 890 12 078 22 880

-17 808 -10 478 -14 639 1 010 2 642

2000 2001 2002 2003 2004

.......................... .......................... .......................... .......................... ..........................

68 865 66 232 66 989 67 524 69 855

29 010 28 400 26 507 21 959 24 831

19 914 19 369 18 602 19 862 21 083

42 826 37 812 33 926 34 542 32 565

294 495 304 882 348 555 404 920 455 908

17 216 16 493 22 351 21 209 26 891

18 633 19 784 20 767 20 873 23 053

-761 9 475 -735 -166

25 031 25 623 29 454 29 703 30 725

36 459 26 253 21 966 22 497 15 440

3 208 5 739 -390 735 5 273

1Fiscal

675

National defense

years through 1976 are from July 1 through June 30. Beginning with October 1976 (fiscal year 1977), fiscal years are from October 1 through September 30. The period from July 1 through September 30, 1976, is a separate fiscal period known as the transition quarter (TQ) and is not included in any fiscal year. . . . = Not available.

CHAPTER 6: GOVERNMENT

137

Table 6-16. Federal Government Receipts and Outlays by Fiscal Year 1—Continued (Budget accounts, millions of dollars.) Outlays by function—Continued

Year

1939 ..........................

Transportation

Community and regional development

Education, employment, and social services

Health

Medicare

Income security

Social Security

Veterans benefits and services

Administration of justice

General government

Net interest

...

...

...

...

...

...

...

...

...

...

...

1940 1941 1942 1943 1944

.......................... .......................... .......................... .......................... ..........................

392 353 1 283 3 220 3 901

285 123 113 219 238

1 972 1 592 1 062 375 160

55 60 71 92 174

... ... ... ... ...

1 514 1 855 1 828 1 739 1 503

28 91 137 177 217

570 560 501 276 -126

81 92 117 154 192

274 306 397 673 900

899 943 1 052 1 529 2 219

1945 1946 1947 1948 1949

.......................... .......................... .......................... .......................... ..........................

3 654 1 970 1 130 787 916

243 200 302 78 -33

134 85 102 191 178

211 201 177 162 197

... ... ... ... ...

1 137 2 384 2 820 2 499 3 174

267 358 466 558 657

110 2 465 6 344 6 457 6 599

178 176 176 170 184

581 825 1 114 1 045 824

3 112 4 111 4 204 4 341 4 523

1950 1951 1952 1953 1954

.......................... .......................... .......................... .......................... ..........................

967 956 1 124 1 264 1 229

30 47 73 117 100

241 235 339 441 370

268 323 347 336 307

... ... ... ... ...

4 097 3 352 3 655 3 823 4 434

781 1 565 2 063 2 717 3 352

8 834 5 526 5 341 4 519 4 613

193 218 267 243 257

986 1 097 1 163 1 209 799

4 812 4 665 4 701 5 156 4 811

1955 1956 1957 1958 1959

.......................... .......................... .......................... .......................... ..........................

1 246 1 450 1 662 2 334 3 655

129 92 135 169 211

445 591 590 643 789

291 359 479 541 685

... ... ... ... ...

5 071 4 734 5 427 7 535 8 239

4 427 5 478 6 661 8 219 9 737

4 675 4 891 5 005 5 350 5 443

256 302 303 325 356

651 1 201 1 360 655 926

4 850 5 079 5 354 5 604 5 762

1960 1961 1962 1963 1964

.......................... .......................... .......................... .......................... ..........................

4 126 3 987 4 290 4 596 5 242

224 275 469 574 933

968 1 063 1 241 1 458 1 555

795 913 1 198 1 451 1 788

... ... ... ... ...

7 378 9 683 9 207 9 311 9 657

11 602 12 474 14 365 15 788 16 620

5 441 5 705 5 619 5 514 5 675

366 400 429 465 489

1 184 1 354 1 049 1 230 1 518

6 947 6 716 6 889 7 740 8 199

1965 1966 1967 1968 1969

.......................... .......................... .......................... .......................... ..........................

5 763 5 730 5 936 6 316 6 526

1 114 1 105 1 108 1 382 1 552

2 140 4 363 6 453 7 634 7 548

1 791 2 543 3 351 4 390 5 162

... 64 2 748 4 649 5 695

9 469 9 678 10 261 11 816 13 076

17 460 20 694 21 725 23 854 27 298

5 716 5 916 6 735 7 032 7 631

536 564 618 659 766

1 499 1 603 1 719 1 757 1 939

8 591 9 386 10 268 11 090 12 699

1970 1971 1972 1973 1974

.......................... .......................... .......................... .......................... ..........................

7 008 8 052 8 392 9 066 9 172

2 392 2 917 3 423 4 605 4 229

8 634 9 849 12 529 12 745 12 457

5 907 6 843 8 674 9 356 10 733

6 213 6 622 7 479 8 052 9 639

15 655 22 946 27 650 28 276 33 713

30 270 35 872 40 157 49 090 55 867

8 669 9 768 10 720 12 003 13 374

959 1 307 1 684 2 174 2 505

2 320 2 442 2 960 9 774 10 032

14 380 14 841 15 478 17 349 21 449

1975 .......................... 1976 .......................... TQ 1 ........................... 1977 .......................... 1978 .......................... 1979 ..........................

10 918 13 739 3 358 14 829 15 521 18 079

4 322 5 442 1 569 7 021 11 841 10 480

16 022 18 910 5 169 21 104 26 710 30 223

12 930 15 734 3 924 17 302 18 524 20 494

12 875 15 834 4 264 19 345 22 768 26 495

50 176 60 799 14 985 61 060 61 505 66 376

64 658 73 899 19 763 85 061 93 861 104 073

16 584 18 419 3 960 18 022 18 961 19 914

3 028 3 434 915 3 705 3 919 4 286

10 374 9 702 3 882 12 787 11 965 12 240

23 244 26 727 6 949 29 901 35 458 42 633

1980 1981 1982 1983 1984

.......................... .......................... .......................... .......................... ..........................

21 329 23 379 20 625 21 334 23 669

11 252 10 568 8 347 7 564 7 673

31 843 33 151 26 611 26 196 26 921

23 169 26 866 27 445 28 641 30 417

32 090 39 149 46 567 52 588 57 540

86 557 100 299 108 155 123 031 113 352

118 547 139 584 155 964 170 724 178 223

21 169 22 973 23 938 24 824 25 588

4 702 4 908 4 842 5 246 5 811

12 975 11 374 10 861 11 182 11 758

52 533 68 766 85 032 89 808 111 102

1985 1986 1987 1988 1989

.......................... .......................... .......................... .......................... ..........................

25 838 28 117 26 222 27 272 27 608

7 680 7 233 5 051 5 294 5 362

28 593 29 777 28 922 30 933 35 330

33 542 35 936 39 967 44 487 48 390

65 822 70 164 75 120 78 878 84 964

128 979 120 633 124 088 130 377 137 426

188 623 198 757 207 353 219 341 232 542

26 262 26 327 26 750 29 386 30 031

6 426 6 735 7 715 9 397 9 644

11 521 12 495 7 494 9 404 9 307

129 478 136 017 138 611 151 803 168 981

1990 1991 1992 1993 1994

.......................... .......................... .......................... .......................... ..........................

29 485 31 099 33 332 35 004 38 066

8 532 6 813 6 841 9 149 10 625

37 176 41 234 42 743 47 376 43 277

57 716 71 183 89 497 99 415 107 122

98 102 104 489 119 024 130 552 144 747

148 655 172 441 199 527 209 934 217 114

248 623 269 015 287 585 304 585 319 565

29 058 31 305 34 064 35 671 37 584

10 185 12 487 14 650 15 193 15 516

10 490 11 582 12 896 12 968 11 200

184 347 194 448 199 344 198 713 202 932

1995 1996 1997 1998 1999

.......................... .......................... .......................... .......................... ..........................

39 350 39 565 40 767 40 343 42 533

10 749 10 745 11 055 9 776 11 870

51 020 48 310 48 961 50 503 50 591

115 418 119 378 123 843 131 442 141 074

159 855 174 225 190 016 192 822 190 447

223 736 229 663 234 952 237 663 242 356

335 846 349 671 365 251 379 215 390 037

37 890 36 985 39 313 41 781 43 212

16 509 17 898 20 619 23 370 26 539

13 834 11 788 12 586 15 324 15 312

232 134 241 053 243 984 241 118 229 755

2000 2001 2002 2003 2004

.......................... .......................... .......................... .......................... ..........................

46 853 54 447 61 833 67 069 64 626

10 623 11 773 12 981 18 850 15 797

53 754 57 143 70 544 82 568 87 945

154 533 172 270 196 544 219 576 240 134

197 113 217 384 230 855 249 433 269 360

253 575 269 615 312 530 334 432 332 837

409 423 432 958 455 980 474 680 495 548

47 083 45 039 50 984 57 022 59 779

28 501 30 205 35 081 35 323 45 535

12 960 14 260 16 905 23 071 21 822

222 949 206 167 170 949 153 073 160 245

1Fiscal

years through 1976 are from July 1 through June 30. Beginning with October 1976 (fiscal year 1977), fiscal years are from October 1 through September 30. The period from July 1 through September 30, 1976, is a separate fiscal period known as the transition quarter (TQ) and is not included in any fiscal year. . . . = Not available.

138

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-17. Federal Government Debt by Fiscal Year 1 (Billions of dollars, except as noted.) Federal government debt held by the public at end of fiscal year Year

Debt held by the public (billions of dollars)

Gross public debt at end of fiscal year held by: Private investors

Debt/GDP ratio (percent)

Social Security funds

Total

Other U.S. government accounts

Federal Reserve System

Foreign and international investors

Total

Domestic investors

1945 1946 1947 1948 1949

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

235 242 224 216 214

106.3 108.6 95.6 84.3 78.9

260 271 257 252 253

7 8 9 10 11

18 21 24 26 27

22 24 22 21 19

213 218 202 195 195

... ... ... ... ...

... ... ... ... ...

1950 1951 1952 1953 1954

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

219 214 215 218 224

80.1 66.8 61.6 58.5 59.4

257 255 259 266 271

13 15 17 18 20

25 26 28 29 26

18 23 23 25 25

201 191 192 194 199

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

227 222 219 226 235

57.3 51.9 48.7 49.1 47.7

274 273 272 280 287

21 23 23 24 23

27 28 30 29 30

24 24 23 25 26

203 198 196 201 209

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

237 238 248 254 257

45.6 44.8 43.6 42.4 40.1

291 293 303 310 316

23 23 22 21 22

31 31 33 35 37

27 27 30 32 35

210 211 218 222 222

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

261 264 267 290 278

37.9 35.0 32.8 33.3 29.3

322 328 340 369 366

22 22 26 28 32

39 43 48 51 56

39 42 47 52 54

222 222 220 237 224

12 12 11 11 10

209 210 209 227 214

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

283 303 322 341 344

28.0 28.0 27.3 26.1 23.8

381 408 436 466 484

38 41 44 44 46

60 64 70 81 94

58 66 71 75 81

225 238 251 266 263

14 32 49 59 57

211 206 202 206 206

1975 ...................................................... 1976 ...................................................... TQ 1 ....................................................... 1977 ...................................................... 1978 ...................................................... 1979 ......................................................

395 477 496 549 607 640

25.3 27.5 27.2 27.9 27.4 25.6

542 629 644 706 777 829

48 45 44 40 35 33

99 107 105 118 134 156

85 95 97 105 115 116

310 383 399 444 492 525

66 70 75 96 121 120

244 313 324 349 371 404

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

712 789 925 1 137 1 307

26.1 25.8 28.6 33.1 34.0

909 995 1 137 1 372 1 565

32 27 19 32 32

165 178 193 202 225

121 124 134 156 155

591 665 790 982 1 152

122 131 141 160 176

469 534 649 822 976

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 507 1 741 1 890 2 052 2 191

36.4 39.5 40.7 40.9 40.5

1 817 2 121 2 346 2 601 2 868

40 46 65 104 157

270 334 391 445 520

170 191 212 229 220

1 337 1 550 1 678 1 822 1 971

223 266 280 346 395

1 115 1 284 1 398 1 476 1 576

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

2 412 2 689 3 000 3 248 3 433

42.0 45.3 48.2 49.5 49.4

3 206 3 598 4 002 4 351 4 643

215 268 319 366 423

580 641 683 737 788

234 259 296 326 355

2 177 2 430 2 703 2 923 3 078

440 477 535 591 656

1 737 1 953 2 168 2 331 2 422

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

3 604 3 734 3 772 3 721 3 632

49.2 48.5 46.1 42.9 39.8

4 921 5 181 5 369 5 478 5 606

483 550 631 730 855

833 898 966 1 027 1 118

374 391 425 458 497

3 230 3 343 3 348 3 263 3 136

800 978 1 218 1 217 1 281

2 430 2 365 2 130 2 046 1 854

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

3 410 3 320 3 540 3 913 4 296

35.1 33.0 34.1 36.1 37.2

5 629 5 770 6 198 6 760 7 355

1 007 1 170 1 329 1 485 1 635

1 212 1 280 1 329 1 362 1 424

511 534 604 656 700

2 898 2 785 2 936 3 257 3 595

1 058 1 006 1 200 1 459 1 886

1 840 1 780 1 736 1 798 1 709

1Fiscal

years through 1976 are from July 1 through June 30. Beginning with October 1976 (fiscal year 1977), fiscal years are from October 1 through September 30. The period from July 1 through September 30, 1976, is a separate fiscal period known as the transition quarter (TQ) and is not included in any fiscal year. . . . = Not available.

CHAPTER 6: GOVERNMENT

Section 6d: Government Output and Employment

Figure 6-4. Government Employment, 1955–2004 (ratio scale) 20.1

Millions of workers

12.2 7.4 4.5 2.7 Federal

1.6

State 1.0

Local

1955

1960

1965

1970

1975

1980

1985

1990

1995

2000 2004

Year

• Since 1955, total employment of civilians by all levels of government has increased 208 percent and risen from 13.8 percent to 16.4 percent of total payroll employment. Federal employment rose 19 percent; state government rose 327 percent, with half of the increase due to education; and local government rose 291 percent, with 58 percent of its rise due to education. (Tables 6-19 and 8-4) • Reported Department of Defense civilian employment has continued to decline in recent years, even as defense spending has been rising absolutely and as a percent of GDP. It should be noted that the figures shown here are for civilian employees only, as compiled by the Bureau of Labor Statistics, and exclude the active-duty armed forces, defense contractors, and employees of the Central Intelligence Agency and the National Security Agency. (Table 6-19 and its notes and definitions) • A more comprehensive picture of government activity in the context of GDP can be found in the new definition and presentation of the gross output and value added of government in the national income and product accounts. Current-dollar data are found in Tables 6-5 and 6-10, and quantity indexes are found in Table 6-18. Looking at the quantity indexes, from 1947 (the first year of relatively normal defense spending following World War II) to 2004, the real gross output of the federal government increased 220 percent, with nondefense activity rising faster than defense spending. For both defense and nondefense, the volume of intermediate goods and services purchased rose far faster than value added by government itself (where value added comprises the input of government employees and government-owned capital). The changes for defense were particularly striking, as gross output increased 162 percent, value added rose only 13 percent, and intermediate goods and services increased 2,215 percent. (Table 6-18) • Real gross output of state and local governments rose 683 percent over the same period, with value added rising 474 percent and goods and services purchased rising 1,651 percent. (Table 6-18)

139

140

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 6-18. Chain-Type Quantity Indexes for Government Output (Index numbers, 2000 = 100.)

NIPA Table 3.10.3 Federal government

Year and quarter

Gross output of general government Total

Defense

Nondefense

State and local government

Value added Total

Defense

Intermediate goods and services purchased 1 Nondefense

Total

Defense

Gross output of general Nondefense government

Value added

Intermediate goods and services purchased 1

1946 1947 1948 1949

................................. ................................. ................................. .................................

59.0 38.8 39.6 41.3

80.4 49.0 47.1 47.1

23.2 21.6 27.4 32.4

106.8 75.4 69.7 66.6

145.4 95.0 84.4 80.5

34.2 40.3 44.8 43.1

17.5 7.6 13.2 18.2

21.7 7.1 12.8 16.0

12.7 7.9 13.1 20.3

12.9 13.9 14.1 15.5

17.4 18.5 19.0 20.3

5.8 6.5 6.4 7.6

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

39.7 60.0 75.7 81.4 72.1

48.1 82.6 105.4 110.2 96.0

26.2 21.9 25.6 32.8 31.8

66.6 87.6 97.6 98.0 95.5

78.6 112.1 127.8 130.0 127.1

47.2 44.1 43.3 40.2 38.5

15.7 32.7 50.2 58.9 46.0

19.4 50.9 76.6 82.8 61.4

10.2 6.1 11.7 23.6 23.1

16.5 16.4 16.7 17.3 18.0

21.0 21.5 22.2 23.2 24.2

8.7 8.1 7.9 7.9 8.2

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

69.0 67.0 71.1 69.7 69.2

90.3 90.3 96.6 94.8 87.1

32.9 27.5 27.8 27.3 38.9

93.3 92.3 92.0 89.4 88.6

123.5 121.6 120.7 116.1 114.9

38.8 39.5 40.4 41.5 41.5

42.6 40.2 47.1 46.8 46.6

54.7 56.2 67.5 68.1 55.3

24.5 16.1 16.1 14.4 33.1

19.3 20.0 21.0 22.7 23.8

25.3 26.9 28.4 30.1 31.4

9.3 9.0 9.4 10.8 11.6

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

68.1 69.3 75.8 77.8 77.3

88.2 90.2 96.5 97.4 95.0

33.9 33.6 40.5 44.2 46.9

90.3 92.1 95.9 96.8 97.7

115.9 118.2 122.8 122.4 122.9

44.4 45.5 47.9 51.0 52.7

43.1 43.6 52.0 54.8 53.0

56.4 58.0 65.5 67.5 62.4

22.6 21.3 31.2 35.3 38.5

25.1 26.5 27.5 29.0 31.0

33.0 34.8 36.0 37.9 40.2

12.2 13.1 13.6 14.5 15.8

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

78.4 87.2 96.4 99.5 97.4

95.6 109.5 122.6 127.6 122.6

48.8 49.1 51.6 51.9 54.4

98.4 104.9 111.7 113.5 113.8

122.9 131.4 140.2 142.1 142.1

54.5 57.5 60.7 62.5 63.3

54.4 65.1 76.0 80.2 75.7

63.5 82.5 99.5 107.3 97.2

40.4 38.4 40.1 39.0 42.8

33.1 35.3 37.0 39.6 42.0

42.6 45.2 47.1 49.9 52.2

17.4 18.8 20.3 22.3 24.7

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

90.4 85.9 84.2 79.7 79.2

111.5 102.8 97.1 90.6 88.0

54.2 56.7 61.5 60.5 63.6

109.0 103.9 98.9 95.2 94.9

133.9 125.0 116.1 110.3 108.1

64.2 66.1 67.8 68.1 71.2

66.8 63.1 65.4 59.9 59.2

83.1 74.9 73.3 65.7 62.6

41.6 44.5 52.3 50.1 53.2

44.4 46.8 48.7 50.4 52.4

54.5 56.7 58.6 60.7 62.9

27.2 29.7 31.5 32.6 34.4

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

78.2 77.0 78.8 80.5 81.9

85.4 83.3 84.3 85.2 86.3

65.5 65.8 69.0 72.2 74.0

94.3 94.5 94.7 95.9 95.8

106.6 105.0 104.4 105.1 104.7

72.4 75.8 77.6 79.8 80.2

57.6 54.9 58.5 60.9 63.9

58.6 56.0 58.9 60.1 62.9

55.6 52.7 57.4 61.5 64.9

54.7 55.6 56.7 58.0 58.8

64.8 65.7 66.7 68.2 69.4

37.1 38.2 39.3 40.3 40.3

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

85.2 88.7 91.6 95.9 97.2

89.8 94.9 101.3 106.4 109.7

77.0 77.6 74.1 77.1 74.6

97.4 98.9 100.5 102.8 105.1

105.7 108.8 111.6 114.2 117.2

82.7 81.3 80.6 82.5 83.6

69.1 74.9 79.2 85.8 85.9

69.3 76.7 87.2 95.0 98.8

68.2 71.0 64.4 68.7 62.2

58.8 58.9 59.9 60.8 61.8

70.4 70.3 70.8 70.5 70.9

39.0 39.3 41.0 43.6 45.4

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

103.0 107.4 110.1 110.0 111.6

116.3 121.6 126.1 127.7 126.7

78.8 81.8 80.9 77.6 83.9

108.1 110.0 112.9 114.3 115.7

121.1 124.0 127.2 128.0 129.4

84.8 84.7 86.9 89.7 91.0

95.0 102.8 105.2 102.9 104.8

108.8 117.2 123.6 126.1 121.8

69.7 76.0 71.6 60.9 73.7

64.8 68.7 69.6 71.8 74.0

73.0 75.1 76.5 79.1 81.6

50.1 56.7 56.6 58.1 59.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

113.3 113.8 111.3 107.4 104.8

126.2 126.0 119.7 114.7 110.2

90.1 91.8 96.4 94.5 95.2

117.8 118.5 116.0 113.8 110.1

130.2 130.9 126.0 122.3 117.5

95.7 96.4 98.5 99.0 97.1

106.1 106.2 103.8 97.4 96.4

119.4 118.0 109.8 103.0 98.8

81.8 84.7 92.7 87.3 92.0

76.2 78.0 80.1 82.1 84.3

84.0 85.1 86.5 87.7 89.2

61.8 64.7 68.1 71.4 74.9

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

101.2 99.4 99.1 97.3 98.5

105.5 103.8 102.3 99.6 101.0

93.7 91.6 93.5 93.2 94.1

106.0 103.0 101.1 100.0 99.1

112.6 108.8 105.6 102.7 100.7

94.4 93.0 93.4 95.1 96.5

93.7 93.5 95.8 92.9 97.4

94.5 95.9 97.0 94.6 101.4

92.3 89.2 93.7 90.0 90.2

86.4 88.0 90.6 94.1 97.5

91.0 92.4 94.3 96.2 97.9

77.7 79.5 83.4 90.0 96.6

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

100.0 103.8 110.5 118.3 124.0

100.0 104.0 111.1 120.9 128.5

100.0 103.6 109.5 113.6 115.9

100.0 100.5 102.5 105.2 106.2

100.0 100.5 102.3 105.2 107.1

100.0 100.7 102.8 105.2 104.6

100.0 109.3 123.8 140.4 154.3

100.0 109.6 125.3 147.0 164.4

100.0 108.7 121.0 128.2 135.8

100.0 103.5 106.6 107.5 108.8

100.0 102.4 104.4 105.3 106.2

100.0 105.5 110.8 111.8 113.8

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

107.5 109.6 110.9 114.1

107.8 109.9 111.1 115.6

107.0 109.1 110.5 111.4

101.6 102.3 102.9 103.3

101.7 102.4 102.8 102.5

101.4 102.0 103.2 104.7

117.2 121.7 124.2 132.2

117.5 121.9 124.7 137.2

116.7 121.3 123.1 123.0

105.8 106.4 106.8 107.2

103.9 104.3 104.5 104.8

109.5 110.5 111.3 111.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

114.0 119.7 119.3 120.2

114.1 124.2 121.7 123.8

113.7 111.7 115.2 113.9

104.6 105.4 105.5 105.4

104.2 105.4 105.6 105.7

105.1 105.5 105.2 105.0

129.6 144.0 142.8 145.3

130.2 155.6 148.3 153.9

128.6 122.4 132.6 129.3

107.3 107.4 107.6 107.8

105.1 105.2 105.4 105.6

111.5 111.7 111.9 112.1

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

122.9 123.3 125.4 124.3

127.3 127.5 130.8 128.4

115.1 115.7 115.7 117.0

105.9 105.8 106.2 106.9

106.7 106.5 107.4 107.9

104.5 104.6 104.2 105.0

151.9 153.1 158.3 154.1

161.8 162.8 170.4 162.8

133.7 135.2 136.1 138.1

108.1 108.5 109.0 109.6

105.7 105.9 106.3 106.7

112.6 113.3 114.2 115.1

1Includes general government intermediate inputs for goods and services sold to other sectors and for own-account investment.

CHAPTER 6: GOVERNMENT

141

Table 6-19. Government Employment (Calendar years; payroll employment, thousands, seasonally adjusted, except as noted.) Federal Year and month

Total government employment

Total

Department of Defense (not seasonally adjusted)

State

Postal Service

Total

Local

Education

State government hospitals (not seasonally adjusted)

Total

Education

Local government hospitals (not seasonally adjusted)

1946 1947 1948 1949

...................................................... ...................................................... ...................................................... ......................................................

5 705 5 567 5 742 5 950

2 365 1 985 1 954 2 001

746 499 511 531

473 471 498 527

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1950 1951 1952 1953 1954

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

6 120 6 502 6 727 6 758 6 858

2 023 2 415 2 539 2 418 2 295

533 797 868 818 744

516 521 542 530 533

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

7 021 7 386 7 724 7 946 8 192

2 295 2 318 2 326 2 298 2 342

744 749 729 695 699

534 539 555 567 578

1 168 1 249 1 328 1 415 1 484

308 334 363 389 420

... ... ... ... ...

3 558 3 819 4 071 4 232 4 366

1 751 1 884 2 026 2 115 2 198

... ... ... ... ...

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

8 464 8 706 9 004 9 341 9 711

2 381 2 391 2 455 2 473 2 463

681 683 697 687 676

591 601 601 603 604

1 536 1 607 1 669 1 747 1 856

448 474 511 557 609

... ... ... ... ...

4 547 4 708 4 881 5 121 5 392

2 314 2 411 2 522 2 674 2 839

... ... ... ... ...

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

10 191 10 910 11 525 11 972 12 330

2 495 2 690 2 852 2 871 2 893

679 741 802 801 815

619 686 719 729 737

1 996 2 141 2 302 2 442 2 533

679 775 873 958 1 042

... ... ... ... ...

5 700 6 080 6 371 6 660 6 904

3 031 3 297 3 490 3 649 3 785

... ... ... ... ...

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

12 687 13 012 13 465 13 862 14 303

2 865 2 828 2 815 2 794 2 858

756 731 720 696 698

741 731 703 698 710

2 664 2 747 2 859 2 923 3 039

1 104 1 149 1 188 1 205 1 267

... ... 459 472 483

7 158 7 437 7 790 8 146 8 407

3 912 4 091 4 262 4 433 4 584

... ... 467 477 483

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

14 820 15 001 15 258 15 812 16 068

2 882 2 863 2 859 2 893 2 894

704 693 676 661 649

699 676 657 660 673

3 179 3 273 3 377 3 474 3 541

1 323 1 371 1 385 1 367 1 378

503 518 538 541 538

8 758 8 865 9 023 9 446 9 633

4 722 4 786 4 859 4 958 4 989

489 492 494 535 571

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

16 375 16 180 15 982 16 011 16 159

3 000 2 922 2 884 2 915 2 943

645 655 690 699 716

673 675 684 685 706

3 610 3 640 3 640 3 662 3 734

1 398 1 420 1 433 1 450 1 488

530 515 494 471 459

9 765 9 619 9 458 9 434 9 482

5 090 5 095 5 049 5 020 5 076

604 622 635 644 623

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

16 533 16 838 17 156 17 540 17 927

3 014 3 044 3 089 3 124 3 136

738 736 736 719 735

750 792 815 835 838

3 832 3 893 3 967 4 076 4 182

1 540 1 561 1 586 1 621 1 668

449 438 439 446 442

9 687 9 901 10 100 10 339 10 609

5 221 5 358 5 469 5 590 5 740

608 601 606 619 632

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

18 415 18 545 18 787 18 989 19 275

3 196 3 110 3 111 3 063 3 018

722 702 702 670 657

825 813 800 793 821

4 305 4 355 4 408 4 488 4 576

1 730 1 768 1 799 1 834 1 882

426 417 419 414 407

10 914 11 081 11 267 11 438 11 682

5 902 5 994 6 076 6 206 6 329

646 653 665 673 673

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

19 432 19 539 19 664 19 909 20 307

2 949 2 877 2 806 2 772 2 769

627 597 588 550 525

850 867 866 881 890

4 635 4 606 4 582 4 612 4 709

1 919 1 911 1 904 1 922 1 983

395 376 360 346 344

11 849 12 056 12 276 12 525 12 829

6 453 6 592 6 759 6 921 7 120

669 648 632 630 626

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

20 790 21 118 21 513 21 583 21 618

2 865 2 764 2 766 2 761 2 728

510 504 499 486 469

880 873 842 809 784

4 786 4 905 5 029 5 002 4 985

2 031 2 113 2 243 2 255 2 249

343 345 349 348 350

13 139 13 449 13 718 13 820 13 905

7 294 7 479 7 654 7 709 7 763

622 628 642 651 657

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

21 533 21 551 21 582 21 607 21 586 21 571

2 729 2 731 2 730 2 745 2 729 2 731

470 467 466 466 466 472

791 791 789 787 786 785

4 961 4 971 4 974 4 975 4 967 4 963

2 230 2 240 2 242 2 243 2 233 2 228

348 347 348 348 349 350

13 843 13 849 13 878 13 887 13 890 13 877

7 713 7 718 7 743 7 751 7 753 7 743

655 655 655 654 656 659

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

21 586 21 645 21 677 21 700 21 706 21 700

2 726 2 730 2 730 2 723 2 728 2 706

473 473 470 468 470 471

786 784 783 783 781 766

4 976 4 987 5 000 5 007 5 015 5 020

2 241 2 249 2 264 2 268 2 271 2 278

351 349 351 354 353 352

13 884 13 928 13 947 13 970 13 963 13 974

7 758 7 786 7 793 7 811 7 806 7 811

658 659 658 659 661 661

. . . = Not available.

142

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 6-1 THROUGH 6-11, 6-18, 19-8, AND 19-9 FEDERAL, STATE, AND LOCAL GOVERNMENT IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS SOURCE: U.S. DEPARTMENT OF COMMERCE, BUREAU ECONOMIC ANALYSIS (BEA)

OF

These data are from the national income and product accounts (NIPAs), as published in the 2003 comprehensive NIPA revisions and as subsequently revised and updated through August 2005. For general information on the NIPAs and the 2003 revision, see the notes and definitions for Tables 1-1 through 1-7. A new framework for the government accounts In the 2003 revision, a new framework is used for government consumption expenditures—federal, state, and local—that explicitly recognizes the services produced by general government. Governments serve several functions in the economy. The functions recognized in the NIPAs are the production of nonmarket services; the consumption of these services, in that the value of the services provided to the general public is treated as government consumption expenditures; and the provision of transfer payments. These functions are financed through taxation, through contributions to social insurance funds, and in the world’s capital markets. In the new framework, the value of the government services (most of which are not sold in the market) is measured as the sum of the costs of the three major inputs: compensation, consumption of fixed capital (CFC), and intermediate goods and services purchased. The purchase from the private sector of goods and services by government, classified as final sales to government before the 2003 revision, is reclassified as intermediate purchases. The value of government final purchases of consumption expenditures and gross investment, which constitutes the contribution of government demand to the GDP, is not changed by this reclassification. It was previously defined as the sum of compensation, CFC, and goods and services purchased. However, the distribution of GDP by type of product is changed—final sales of goods are reduced, and services increased by the same amount. In addition to this change in the conceptual framework, a number of the categories of government receipts and expenditures have been redefined to make more precise distinctions. For example, items that used to be called “nontax payments” and were previously included with taxes are now classified as transfer or fee payments and not included in taxes. Finally, the concept previously known as “current surplus or deficit (-), national income and product accounts” has been renamed “net government saving.” This recognizes,

in part, the role of government in the capital markets. When government runs a current surplus, net government saving is positive and funds are made available (for example, by repayment of outstanding debt) to finance investment—both private-sector capital spending and government investment. When government runs a current deficit, or “dis-saves,” it must borrow funds that would otherwise be available to finance investment. However, net government saving does not give a complete picture of governments’ role in capital markets, because it is based on current receipts and expenditures alone and does not include government investment activity. The federal budget accounts (see Tables 6-16 and 6-17) do not draw a distinction between current and capital spending. The accounts of individual state and local governments typically separate capital from current spending, and allow capital spending to be financed by borrowing—even when deficit financing of current spending is constitutionally forbidden. However, neither federal nor state and local governments typically show depreciation as a current expense in the way standard to private-sector accounting. In the NIPAs, the capital spending of all levels of government is treated the same way as private investment spending is treated. A depreciation entry for existing capital (CFC) is calculated, using estimated replacement costs and realistic depreciation rates, and entered as one element of government current expenditures and output. Capital spending is excluded from current expenditures but appears in the account for “net lending or borrowing (-).” Net lending or borrowing (-) is shown along with its derivation in Business Statistics in Tables 6-5 and 6-10. It consists of current net saving as defined above, plus the consumption of fixed capital (CFC, from the current expenditure account), minus gross investment, plus capital transfer receipts, and minus capital transfer payments and net purchases of non-produced assets. The logic is that when CFC exceeds actual investment expenditures, governments have positive saving and can lend (or repay debt); if gross investment exceeds CFC, government must borrow to finance the difference, indicating negative saving and requiring borrowing. Notes on the data Government receipts and expenditures data are derived from the U.S. government accounts and from a Census Bureau survey of government finances covering state and local governments. However, BEA makes a number of adjustments to the data to convert them from fiscal year to calendar year and quarter bases and to agree with the concepts of national income accounting. Data are converted from the cash basis usually found in financial statements to the timing bases required for the NIPAs. In the NIPAs, receipts from businesses are generally on an accrual basis, purchases of goods and services are recorded when delivered, and receipts from and transfer pay-

CHAPTER 6: GOVERNMENT

ments to persons are on a cash basis. The federal receipts and expenditure data from the NIPAs in Tables 6-1 through 6-7 therefore differ from the federal receipts and outlay data in Table 6-16. Among other differences, the latter are by fiscal year and are on a modified cash basis. The NIPA data on government receipts and expenditures record transactions of governments (federal, state, and local) with other U.S. residents and foreigners. Each entry in the government receipts and expenditures account has a corresponding entry elsewhere in the NIPAs. Thus, for example, the sum of personal current taxes received by federal and state and local governments (Tables 6-1 and 6-8) is equal to personal current taxes paid, as shown in personal income. (Table 4-1) Definitions (general) In the 2003 revision of the NIPAs, several items appear separately that were previously treated as “negative expenditures” and netted against other items on the expenditures side. This grossing-up of the accounts raises both receipts and outlays and has no effect on net saving. Grossing-up has been applied to taxes from the rest of the world, interest receipts (back to 1960 for the federal government and back to 1946 for state and local governments), dividends, and subsidies and the current surplus of government enterprises (back to 1959). Definitions (current receipts) Current tax receipts includes personal current taxes, taxes on production and imports, taxes on corporate income and (for the federal government only) taxes from the rest of the world. The taxes from the rest of the world are mostly income taxes and are not shown in the tables here. Personal current taxes is personal tax payments from residents of the United States that are not chargeable to business expense. Personal taxes includes taxes on income, including on realized net capital gains, and on personal property. Personal contributions for social insurance are not included in this category. As of the 1999 revisions, estate and gift taxes are classified as capital transfers and are no longer included in personal current taxes. However, estate and gift taxes continue to be included in federal government receipts in Table 6-16. Taxes on production and imports consists of federal excise taxes and customs duties and of state and local sales taxes, property taxes (including residential real estate taxes), motor vehicle licenses, severance taxes, other taxes, and special assessments. Before the 2003 revision, these taxes were a component of “indirect business tax and nontax liabilities.” Taxes on corporate income covers federal, state, and local government income taxes on all corporate income subject to taxes. This income includes capital gains and other income excluded from NIPA profits. The taxes are measured on an accrual basis, net of applicable tax credits.

143

Contributions for social insurance includes employer and personal contributions for Social Security, Medicare, unemployment insurance, and other government social insurance programs. As of the 1999 revisions, contributions to government employee retirement plans are no longer included in this category; these plans are now treated the same as private pension plans. Income receipts on assets consists of interest, dividends (not shown separately here), and rents and royalties. Interest receipts (1960 to date for federal governments; 1946 to date for state and local governments) consists of monetary and imputed interest received on loans and investments. In the NIPAs, this no longer includes interest received by government employee retirement plans, which is now credited to personal income. However, such interest received is still deducted from interest paid in the budget accounts (shown in Table 6-16). In the NIPAs, before the indicated years, receipts are deducted from aggregate interest payments. Hence, they are not shown as receipts, and net interest is presented on the expenditure side. In the federal budget accounts in Table 6-16, net interest is the interest expenditure concept used throughout the period covered. Current transfer receipts includes receipts in categories other than those specified above from persons and business. In the case of state and local government accounts (Table 6-8), it also includes federal grants-in-aid, a component of federal transfer payments on the expenditure side. Receipts from business and persons were previously included with income taxes in “tax and nontax payments.” They consist of federal deposit insurance premiums and other nontaxes (largely fines and regulatory and inspection fees), state and local fines and other nontaxes (largely donations and tobacco settlements), and net insurance settlements paid to governments as policyholders. The current surplus of government enterprises is their current operating revenue and subsidies received from other levels of government less their current expenses. No deduction is made for depreciation charges and net interest paid. Before 1959, this category of receipts is treated as a deduction from subsidies. In the federal NIPA accounts before 1959, there is no entry shown for the current surplus on the receipts side, and on the expenditure side, there is an entry for subsidies net of the current surplus. (Subsidies are usually a larger amount than the enterprise surplus in the federal accounts.) In the state and local NIPA accounts before 1959, there is an entry for the surplus on the receipts side which is net of subsidies. (Subsidy payments are typically smaller than the enterprise surplus in state and local finance.) Definitions (consumption expenditures, saving, and gross investment) Government consumption expenditures is expenditures by governments (federal or state and local) on services for

144

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

current consumption. It includes compensation of general government employees (including employer contributions to retirement plans, as of the 1999 revision); an allowance for consumption of general government fixed capital including goods and services software (depreciation); and intermediate goods and services purchased. (See general discussion above for explanation.) The estimated value of own-account investment—investment goods, including software, produced by government resources and purchased inputs—is subtracted here, and added to government gross investment. Sales to other sectors—primarily tuition payments for higher education and charges for medical care—are also deducted. Government social benefits are payments to individuals for which the individuals do not render current services. Examples are Social Security benefits, Medicare, Medicaid, unemployment benefits, and public assistance. Retirement payments to retired government employees from their pension plans are no longer included in this category. Government social benefits to persons are payments to persons residing in the United States (with a corresponding entry of an equal amount in the personal income accounts). Government social benefits to the rest of the world—not shown separately here—appear only in the federal government account, and are transfers, mainly retirement benefits, to former residents of the United States. Other current transfer payments (federal account only) include grants-in-aid to state and local governments and military and nonmilitary grants to foreign governments, not shown separately. Federal grants-in-aid are net payments from federal to state and local governments to help finance programs such as health (Medicaid), public assistance (the former Aid to Families with Dependent Children and the new Temporary Assistance for Needy Families), and education. Investment grants to state and local governments for highways, transit, air transportation, and water treatment plants are now classified as capital transfers and are no longer included in this category. However, such investment grants continue to be included as federal government outlays in Table 6-16. Interest payments is monetary interest paid to U.S. and foreign persons and businesses and to foreign governments for public debt and other financial obligations. As noted above, from 1960 forward for the federal government and 1946 forward for state and local governments, this represents gross total (not net) interest payments. Before those dates in the NIPAs, and throughout the federal budget accounts presented in Table 6-16, net instead of aggregate interest is shown; that is, gross total interest paid less interest received.

Subsidies are monetary grants paid by government to business, including to government enterprises at another level of government. Subsidies no longer include federal maritime construction subsidies, which are now classified as a capital transfer. For years prior to 1959, subsidies continue to be presented net of the current surplus of government enterprises, because detailed data to separate the series are not available for this period. See the entry for current surplus of government enterprises, above, for explanation of the pre-1959 treatment of this item in the federal accounts, which differs from the treatment in the state and local accounts. Net saving, NIPA (surplus+/deficit-), is the sum of current receipts less the sum of current expenditures. This is shown separately for social insurance funds (which in the federal government case include the Social Security and other trust funds) and other (all other government). As of the 1999 revisions, net government saving—particularly that of state and local governments—is measured as being significantly smaller than before that revision, as the net accumulations of government employee retirement plans (not Social Security) are now classified as personal saving rather than in the government sector. Gross government investment consists of general government and government enterprise expenditures for fixed assets—structures, equipment, and software. The expenditures include the compensation of government employees and the purchase of goods and services as intermediate inputs associated with government production of fixed assets. Government inventory investment is included in government consumption expenditures. Capital consumption. Consumption of fixed capital (CFC; economic depreciation) is included in government consumption expenditures as a partial measure of the value of the services of general government fixed assets, including structures, equipment, and software. Definitions (output and net investment) In Tables 6-5 and 6-10, the gross output and value added of government are presented, as described in the general discussion above. Gross output of government is the sum of the intermediate goods and services purchased by government and the value added by government as a producing industry. Value added consists of compensation of general government employees and consumption of general government fixed capital. Since this depreciation allowance is the only entry on the product side of the accounts measuring the output associated with such capital, a zero net return on these assets is implicitly assumed. Gross output minus own-account investment and sales to other sectors (see above) yields government consumption expenditures, which represents the contribution of government consumption spending to final demands in the GDP.

CHAPTER 6: GOVERNMENT

The values of net investment shown in these tables are calculated by the editor as gross investment minus the consumption of fixed capital. Definitions (chain-type quantity indexes) Chain-type quantity indexes represent changes over time in real values, removing the effects of inflation. Indexes for key categories in the government expenditure accounts, as well as for government gross output, value added, and intermediate goods and services purchased, use the chain formula described in the notes and definitions to Chapter 1, and are expressed as index numbers with the average for the year 2000 equal to 100.

145

grants-in-aid but also local grants-in-aid, and state government expenditures include grants-in-aid to local governments. Local government receipts include not only federal grants-in-aid but also state grants-in-aid, and local government expenditures include grants-in-aid to state governments. To make room for these columns, the components current surplus of government enterprises and subsidies are not shown, though they are included in total current receipts and total current expenditures, respectively.

Data availability

These measures are described in “Receipts and Expenditures of State Governments and of Local Governments,” Survey of Current Business, October 2005; that article displays the estimates from 1990 through 2004. The data back to 1959 are available on the BEA Web site at .

The most recent data are published each month in the Survey of Current Business. Current and historical data may be obtained from the BEA Web site at and the STAT-USA subscription Web site at .

TABLES 6-14 AND 6-15 STATE GOVERNMENT CONSUMPTION EXPENDITURES AND GROSS INVESTMENT BY FUNCTION; LOCAL GOVERNMENT CONSUMPTION EXPENDITURES AND GROSS INVESTMENT BY FUNCTION

References See the references regarding the 2003 comprehensive revision of the NIPAs in the notes and definitions to Chapter 1. For information on the classification of government expenditures into current consumption and gross investment, first undertaken in the 1996 comprehensive revisions, see the Survey of Current Business article “Preview of the Comprehensive Revision of the National Income and Product Accounts: Recognition of Government Investment and Incorporation of a New Methodology for Calculating Depreciation,” September 1995. Other sources of information about the NIPAs are listed in the notes and definitions for Tables 1-1 through 1-10. TABLES 6-12 AND 6-13 STATE GOVERNMENT CURRENT RECEIPTS AND EXPENDITURES; LOCAL GOVERNMENT CURRENT RECEIPTS AND EXPENDITURES SOURCE: BUREAU

OF

ECONOMIC ANALYSIS (BEA)

In the standard presentation of the NIPAs, such as in Tables 6-8 through 6-11 above, state and local governments are combined. Annual measures for aggregate state governments and aggregate local governments have now been published in the October 2005 Survey of Current Business and on the BEA Web site for the years 1959–2004. These measures are shown in Tables 6-12 and 6-13. The definitions are the same as in the other NIPA tables described above. Two new categories appear in each table, detailing the inter-governmental flows that are consolidated in Table 6-8. State government receipts include not only federal

As Business Statistics went to press, these data had not been revised to reflect the 2003 comprehensive revision of the NIPAs as described in the notes and definitions to Chapter 1 and those to Tables 6-1 through 6-11 above. They are reprinted as they appeared in the previous two editions of Business Statistics. They cover the years 1959–2001 and do not reflect new source data made available in the last three years. They follow the pre-2003 framework for government accounts. These two tables present only the total of consumption expenditures and gross investment, which is little affected by the 2003 conceptual revisions. Definitions The functions defined in Tables 6-14 and 6-15, which include consumption expenditures and gross investment combined, are roughly similar to the federal government spending concept and functions displayed in Table 6-16. Specifically: General public service includes executive and legislative functions, tax collection and financial management, and other. Public order and safety includes police, fire, law courts, and prisons. Economic affairs includes general economic and labor affairs, agriculture, energy, natural resources, transportation, and other. Transportation includes highways, air transportation, water transportation, transit, and railroads. Housing and community services includes water, sewerage, sanitation, and other. Education includes elementary and secondary and higher education, libraries, and other.

146

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Income security includes disability, welfare and social services, and other transfer payments to individuals. Total consumption expenditures and gross investment includes the groups listed above, health, and recreation and culture. Data availability and references These data were described and published in “Receipts and Expenditures of State Government and of Local Governments, 1959–2001,” Survey of Current Business, June 2003. TABLE 6-16 FEDERAL GOVERNMENT RECEIPTS AND OUTLAYS BY FISCAL YEAR SOURCE: U.S. OFFICE

OF

MANAGEMENT

AND

BUDGET

These data on federal government receipts and outlays are on a modified cash basis and are from the Budget of the United States Government: Historical Tables. The data are by federal fiscal years: July 1–June 30 through 1976 and October 1–September 30 for 1977 and subsequent years. The period July 1–September 30, 1976, is a separate fiscal period known as the transition quarter (TQ) and is not included in any fiscal year. There are numerous differences in both timing and definition between these estimates and the NIPA estimates in Tables 6-1 through 6-7. See the notes and definitions for those tables for definitional differences that were introduced with the 1999 comprehensive revision. Definitions The definitions for these tables are not affected by the 2003 or 1999 changes in the government sectors of the NIPAs. Receipts are composed of gifts, taxes, and other compulsory payments to the government. Other types of payments to the government are netted against outlays. Outlays occur when the federal government liquidates an obligation through a cash payment or when interest accrues on public debt issues. Beginning with the data for 1992, outlays include the subsidy cost of direct and guaranteed loans made. Before 1992, the costs and repayments associated with such loans are recorded on a cash basis. As noted above, various types of nontax receipts are netted against cash outlays. These accounts do not distinguish between investment outlays and current consumption and do not include allowances for depreciation. The total surplus (deficit-) is receipts minus outlays. On-budget and off-budget. By law, two government programs that are included in the federal receipts and out-

lays totals are “off-budget”—old-age, survivors, and disability insurance (Social Security) and the Postal Service. The former accounts for nearly all of the off-budget activity. The surplus (deficit-) not accounted for by these two programs is the on-budget surplus or deficit. Sources of financing is the means by which the total deficit is financed or the surplus is distributed. By definition, sources of financing sum to the total deficit or surplus with the sign reversed. The principal source is borrowing from the public, shown as a positive number, that is, the increase in the debt held by the public. When there is a budget surplus, as in fiscal years 1998 to 2000, debt can be reduced, indicated by a minus sign in this column. Other financing includes drawdown (or buildup, shown here with a minus sign) in Treasury cash balances, seigniorage on coins, direct and guaranteed loan account cash transactions, and miscellaneous other transactions. Outlays by function presents outlays according to the major purpose of the spending. Functional classifications cut across departmental and agency lines. Most categories of offsetting receipts are netted against cash outlays in the appropriate function. There is also a category of undistributed offsetting receipts (not shown) that includes proceeds from the sale or lease of assets and payments from federal agencies to federal retirement funds and the Social Security and Medicare trust funds. In order to provide authoritative comparisons of these budget values with the overall size of the economy, a special calculation of gross domestic product by fiscal year (supplied to the Office of Management and Budget by the Bureau of Economic Analysis) is included in this table. Data availability The annual data are from the Budget of the United States Government: Historical Tables and are available on the GPO Web site at . Similarly defined data for the latest month, the year-ago month, and the current and year-ago fiscal year to date are published in the Monthly Treasury Statement prepared by the Financial Management Service, U.S. Department of the Treasury. For those who need up-todate budget information, this publication is available on the Financial Management Service Web site at . As these monthly figures are never revised to agree with the final annual data, they are not published in this volume. References Definitions and budget concepts are discussed in Budget of the United States: Historical Tables, available from the Government Printing Office (GPO) and on the Web site listed above.

CHAPTER 6: GOVERNMENT

TABLE 6-17 FEDERAL GOVERNMENT DEBT BY FISCAL YEAR Debt outstanding at the end of each fiscal year is from the Budget of the United States Government. Most securities are recorded at sales price plus amortized discount or less amortized premium. Definitions

147

funds is calculated by the editor as the sum of the OASI and DI trust fund balances in Table 13.1 of the same volume. Foreign and international investors is shown in the budget Analytical Perspectives volume in the chapter on “Federal borrowing and debt,” and is only available from 1965 to date. In the foreign investors series, some year-toyear comparisons are affected by benchmark and conceptual revisions, which have been made at the end of the years 1979, 1985, 1990, 1995, 1999, 2000, and 2002.

Federal government debt held by the public consists of all federal debt held outside the federal government accounts—by individuals, financial institutions including the Federal Reserve Banks, and foreign individuals, businesses, and central banks. It does not include federal debt held by federal government trust funds such as the Social Security trust fund. The level and change of the ratio of this debt to the value of GDP provide proportional measures of the impact of federal borrowing on credit markets.

The other column entries have been derived by the editor by subtraction. Private investors is debt held by the public minus the holdings of the Federal Reserve. Other U.S. government accounts is total holdings by federal government accounts minus Social Security holdings. Domestic investors is total private investors minus foreign and international investors.

Gross public debt—total. This is the total debt owed by the U.S. Treasury. It includes a small amount of matured debt. It consists of debt held by Social Security funds, debt held by other U.S. government accounts, debt held by Federal Reserve Banks, and debt held by private investors.

For the end-of-fiscal-year data see Historical Tables and Analytical Perspectives in the Budget of the United States Government, available on the GPO Web site at .

The “debt subject to statutory limitation,” not shown here, corresponds closely to the gross debt in concept and size, but there are some relatively minor definitional differences specified by law. The debt limit can only be changed by an Act of Congress. For information on the debt subject to limit and other debt subjects, see the latest Budget of the United States Government: Historical Statistics and Analytical Perspectives.

Recent quarterly data, but measured on a somewhat different basis, are found in the Treasury Bulletin in the chapter on “Ownership of Federal Securities (OFS),” tables OFS-1 and OFS-2. The Bulletin can be accessed on the Internet at . Holdings by Social Security funds are also available in the Bulletin in the chapter on “Federal Debt,” Table FD3. The Disability Fund is listed separately from the OldAge and Survivors Fund.

Debt held by Social Security funds shows the trust fund balances of the Old-Age, Survivors and Disability Insurance funds (OASDI). Debt held by other U.S. government accounts shows the holdings of all other trust fund accounts including the Medicare trust funds. Debt held by Federal Reserve System shows the investments of the Federal Reserve System, largely acquired in Federal Reserve System open market operations undertaken to implement monetary policy. Debt held by private investors. All Treasury debt not held by U.S. government funds or the Federal Reserve System, with a breakdown between domestic holdings and foreign and international holdings, which include holdings of international institutions. Notes on the data Gross federal debt, total debt held by federal government accounts, debt held by the public, and debt held by the Federal Reserve System are found in the budget Historical Statistics volume, Table 7.1. Social Security

Data availability

TABLE 6-19 GOVERNMENT EMPLOYMENT SOURCE: U.S. DEPARTMENT OF LABOR, BUREAU OF LABOR STATISTICS (SEE NOTES AND DEFINITIONS TO TABLE 10-5). Government payroll employment includes federal, state, and local activities such as legislative, executive, and judicial functions, as well as all government-owned and government-operated business enterprises, establishments, and institutions (arsenals, navy yards, hospitals, etc.), and government force account construction. The figures relate to civilian employment only. BLS considers regular full-time teachers (private and governmental) to be employed during the summer vacation period whether or not they are specifically paid in those months. Employment in federal government establishments reflects employee counts as of the pay period including the 12th of the month. Federal government employment excludes employees of the Central Intelligence Agency and the National Security Agency.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE Section 7a: Foreign Transactions in the National Income and Product Accounts

Figure 7-1. Receipts, Payments, and Balance on Current Account, 1946–2004 2,500 Receipts from the rest of the world

Billions of dollars

2,000

Payments to the rest of the world

1,500

Balance on current account

1,000 500 0 -500 -1,000 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• For much of the earlier postwar period, U.S. current receipts from the rest of the world (exports and income receipts) and current payments to the rest of the world (imports, income payments, and net tax and transfer payments) were in rough balance. Indeed, in most of those years there was a surplus of receipts over payments—a positive balance on current account—that enabled the United States to invest in the economies of the rest of the world. (Table 7-1) • However, beginning in 1983, large current-account deficits emerged, requiring capital inflows from abroad to finance them in most years. The only current-account surplus since then occurred in 1991, when payments from other countries financed most of the cost of the Gulf War. (Table 7-1) • The NIPA current-account deficit of $652 billion in 2004 comprised a deficit of $678 billion on goods, a surplus of $54 billion on services, a surplus of $54 billion on income payments, and net payments of $82 billion in taxes and transfer payments. (Table 7-1) • All the major categories of goods and services in Table 7-5 show long-term growth in quantity of both exports and imports. Between 1967 and 2004, the slowest-growing category—imports of foods and feeds—tripled, and the fastest-growing—imports of capital goods, except automotive—was 141 times greater in real terms. The greatest growth in trade has been in capital goods and in “other private services” (financial, professional, and computer-related). In both of those categories, the quantity of imports has grown even faster than the quantity of exports. (Table 7-5)

149

150

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-1. Foreign Transactions in the National Income and Product Accounts (Billions of dollars, quarterly data are at seasonally adjusted annual rates.) Current receipts from the rest of the world

Current payments to the rest of the world

Exports of goods and services Year and quarter Total

Goods 1 Durable

Nondurable

Services 1

NIPA Table 4.1

Imports of goods and services Income receipts

Total

Goods 1 Durable

Nondurable

Services 1

Income payments

Current taxes and transfer payments (net)

Balance on Net lending current or net boraccount, rowing (-), NIPAs NIPAs

1946 1947 1948 1949

................................. ................................. ................................. .................................

15.2 20.3 17.6 16.4

5.0 8.5 6.6 6.1

6.7 7.6 6.6 6.1

2.4 2.6 2.3 2.3

1.1 1.6 2.0 1.9

10.3 11.1 15.2 15.6

1.5 1.8 2.4 2.1

3.6 4.2 5.2 4.8

1.9 2.0 2.5 2.4

0.4 0.5 0.6 0.7

2.9 2.6 4.5 5.6

4.9 9.3 2.4 0.9

4.9 9.3 2.4 0.9

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

14.5 19.9 19.3 18.2 18.9

5.1 6.6 6.9 6.9 7.1

5.1 7.6 6.5 5.5 5.8

2.1 2.9 3.0 2.9 2.9

2.2 2.8 2.9 2.8 3.0

16.4 19.0 18.7 19.4 18.6

3.0 3.8 4.1 4.1 3.6

6.1 7.4 6.7 6.9 6.7

2.5 3.4 4.5 5.0 5.1

0.7 0.9 0.9 0.9 0.9

4.0 3.5 2.5 2.5 2.3

-1.8 0.9 0.6 -1.3 0.2

-1.8 0.9 0.6 -1.3 0.2

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

21.2 25.2 28.3 24.4 27.0

8.2 9.8 10.9 9.0 8.9

6.2 7.8 8.6 7.4 7.5

3.3 3.7 4.5 4.1 6.3

3.5 3.9 4.3 3.9 4.3

20.7 22.5 23.5 23.5 28.2

4.5 5.2 5.3 5.0 6.6

7.1 7.6 8.0 8.0 8.7

5.7 6.1 6.7 7.1 7.0

1.1 1.1 1.2 1.2 1.5

2.5 2.4 2.3 2.3 4.3

0.4 2.8 4.8 0.9 -1.2

0.4 2.8 4.8 0.9 -1.2

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

31.9 32.9 35.0 37.6 42.3

11.3 11.5 12.0 12.7 14.7

9.2 9.4 9.7 10.7 12.0

6.6 6.7 7.4 7.7 8.3

4.9 5.3 5.9 6.5 7.2

28.7 28.6 31.1 32.6 34.7

6.4 6.0 6.9 7.4 8.4

8.9 9.0 9.9 10.3 11.0

7.6 7.6 8.1 8.4 8.7

1.8 1.8 1.8 2.1 2.3

4.1 4.2 4.3 4.4 4.3

3.2 4.3 3.9 5.0 7.5

3.2 4.3 3.9 5.0 7.5

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

45.0 49.0 52.1 58.0 63.7

15.8 17.5 18.4 21.0 23.7

12.0 13.2 13.7 14.3 14.6

9.4 10.2 11.3 12.6 13.7

7.9 8.1 8.7 10.1 11.8

38.8 45.1 48.6 56.3 61.9

10.4 13.3 14.5 18.8 20.8

11.8 13.1 13.2 15.1 16.1

9.3 10.7 12.2 12.6 13.7

2.6 3.0 3.3 4.0 5.7

4.7 5.0 5.4 5.7 5.8

6.2 3.9 3.6 1.7 1.8

6.2 3.9 3.6 1.7 1.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

72.5 77.0 87.1 118.8 156.5

27.1 27.5 31.0 41.4 56.5

17.4 18.0 20.8 32.6 44.5

15.2 17.4 19.0 21.3 25.7

12.8 14.0 16.3 23.5 29.8

68.5 76.4 90.7 109.5 149.8

22.8 26.6 33.3 40.8 50.3

18.1 19.9 23.6 31.0 54.2

14.9 15.8 17.3 19.3 22.9

6.4 6.4 7.7 10.9 14.3

6.3 7.6 8.8 7.4 8.1

4.0 0.6 -3.6 9.3 6.6

4.0 0.6 -3.6 9.3 6.6

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

166.7 181.9 196.6 233.1 298.5

63.8 69.0 72.0 85.3 108.0

45.8 48.7 51.6 60.1 76.0

29.1 31.7 35.7 41.5 46.1

28.0 32.4 37.2 46.3 68.3

145.4 173.0 205.6 243.6 297.0

45.6 56.8 69.2 89.0 100.4

53.4 67.8 83.4 88.4 112.3

23.7 26.5 29.8 34.8 39.9

15.0 15.5 16.9 24.7 36.4

7.6 6.3 6.2 6.7 8.0

21.4 8.9 -9.0 -10.4 1.4

21.4 8.9 -9.0 -10.4 1.4

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

359.9 397.3 384.2 378.9 424.2

133.3 140.1 124.7 120.4 132.4

92.5 99.0 90.3 86.9 93.2

55.0 66.1 68.2 69.7 76.7

79.1 92.0 101.0 101.9 121.9

348.5 390.9 384.4 410.9 511.2

111.9 126.0 125.1 147.3 192.4

136.6 141.8 125.4 125.4 143.9

45.3 49.9 52.6 56.0 68.8

44.9 59.1 64.5 64.8 85.6

9.8 14.1 16.7 17.5 20.5

11.4 6.3 -0.2 -32.1 -86.9

11.4 6.3 0.0 -31.8 -86.7

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

414.5 431.9 487.1 596.2 681.0

137.2 142.6 162.9 208.8 239.8

85.0 83.4 94.6 117.0 129.5

79.8 94.5 106.4 118.3 134.0

112.4 111.4 123.2 152.1 177.7

525.3 571.2 637.9 708.4 769.3

204.2 238.8 264.2 294.8 310.4

139.1 131.2 150.6 157.3 174.4

73.9 83.3 94.3 102.4 106.7

85.9 93.6 105.3 128.5 151.5

22.2 24.3 23.5 25.5 26.4

-110.8 -139.2 -150.8 -112.2 -88.3

-110.5 -138.9 -150.4 -111.7 -88.0

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

741.5 765.7 788.0 812.1 907.3

262.0 282.3 300.6 314.0 349.7

134.6 141.3 147.4 145.9 160.4

155.7 173.3 187.4 195.9 210.8

189.1 168.9 152.7 156.2 186.4

811.5 752.3 824.9 882.5 1 012.5

314.7 315.7 346.9 386.6 454.2

193.4 185.0 198.1 206.2 222.6

122.3 123.6 123.6 128.1 137.7

154.3 138.5 123.0 124.3 160.2

26.9 -10.6 33.4 37.3 37.8

-70.1 13.5 -36.9 -70.4 -105.2

-76.6 9.0 -37.5 -71.7 -106.9

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 046.1 1 117.3 1 242.0 1 243.1 1 312.1

394.1 421.8 483.0 487.1 503.3

189.2 196.6 204.7 193.8 193.9

228.9 250.2 267.6 275.1 294.0

233.9 248.7 286.7 287.1 320.8

1 137.1 1 217.6 1 352.2 1 430.5 1 585.9

511.0 533.6 588.3 636.5 714.7

246.5 273.8 297.1 292.5 330.8

146.1 157.4 171.5 186.9 206.3

198.1 213.7 253.7 265.8 287.0

35.4 39.1 41.6 48.8 47.2

-91.0 -100.3 -110.2 -187.4 -273.9

-91.9 -101.0 -111.3 -188.1 -278.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 478.9 1 355.2 1 311.6 1 389.3 1 589.2

569.2 521.1 487.2 496.1 561.4

215.1 210.1 210.4 228.2 256.7

311.9 301.6 308.4 321.3 355.7

382.7 322.4 305.7 343.7 415.4

1 875.6 1 725.6 1 769.9 1 893.8 2 240.9

820.7 754.7 770.0 801.2 930.2

422.8 413.2 419.4 482.7 565.7

232.3 231.9 241.0 262.6 301.9

343.7 278.8 275.0 275.6 361.7

56.1 47.0 64.5 71.7 81.5

-396.6 -370.4 -458.3 -504.5 -651.7

-397.4 -371.5 -459.7 -507.7 -653.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 270.8 1 315.3 1 340.6 1 319.6

474.6 493.2 498.2 482.7

202.1 210.2 214.8 214.4

299.6 304.8 309.9 319.1

294.5 307.1 317.7 303.3

1 691.9 1 774.7 1 804.1 1 808.7

740.0 772.4 783.5 784.0

375.4 415.4 431.0 455.7

234.1 236.5 242.2 251.1

268.3 290.5 288.1 253.3

74.1 60.0 59.4 64.6

-421.0 -459.4 -463.6 -489.1

-422.2 -460.7 -465.1 -490.7

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 335.2 1 345.1 1 390.9 1 486.0

480.0 485.3 494.5 524.5

225.7 223.3 228.6 235.3

313.0 307.5 323.5 341.3

316.5 329.1 344.3 384.9

1 864.4 1 848.4 1 889.9 1 972.5

777.1 790.1 794.0 843.4

489.7 474.2 480.9 486.1

254.6 252.3 266.9 276.6

271.5 262.2 277.0 291.7

71.5 69.5 71.0 74.7

-529.1 -503.3 -499.0 -486.5

-530.8 -509.6 -502.4 -487.9

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 510.7 1 564.5 1 601.9 1 679.5

539.1 555.8 572.1 578.5

247.0 255.6 257.6 266.5

344.7 351.8 354.1 372.1

380.0 401.2 418.1 462.4

2 076.9 2 213.4 2 255.1 2 418.1

873.1 926.3 946.8 974.7

528.7 552.0 568.2 613.7

288.5 298.1 306.8 314.1

297.0 354.5 369.6 425.6

89.6 82.6 63.6 90.0

-566.2 -648.9 -653.2 -738.6

-567.9 -650.4 -654.7 -740.4

1Exports

and imports of certain goods, primarily military equipment purchased and sold by the federal government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

151

Table 7-2. Chain-Type Quantity Indexes for Exports and Imports of Goods and Services (Index numbers, 2000 = 100.)

NIPA Table 4.2.3 Exports of goods and services

Imports of goods and services

Goods 1

Year and quarter

Goods 1 Services 1

Total Total

Durable

Services 1

Total

Nondurable

Total

Durable

Nondurable

1967 ................................. 1968 ................................. 1969 .................................

11.76 12.68 13.29

10.64 11.48 12.08

7.47 8.17 8.83

20.84 22.05 22.26

14.91 16.05 16.65

11.42 13.12 13.87

9.40 11.34 11.96

5.12 6.52 6.97

20.74 23.50 24.37

22.89 23.30 24.77

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

14.72 14.97 16.10 19.13 20.64

13.46 13.41 14.85 18.26 19.71

9.66 9.59 10.60 13.20 15.24

25.53 25.56 28.42 34.31 33.99

18.13 19.53 19.40 20.78 22.40

14.46 15.23 16.94 17.73 17.33

12.43 13.47 15.31 16.39 15.93

7.16 7.89 9.07 9.66 9.70

25.70 27.29 30.48 32.87 30.82

26.06 25.32 26.39 25.50 25.47

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

20.51 21.41 21.92 24.23 26.64

19.25 20.17 20.43 22.71 25.40

14.92 15.13 15.10 16.83 19.16

33.09 36.27 37.54 41.57 45.32

23.77 24.48 26.06 28.23 29.10

15.40 18.41 20.43 22.20 22.57

13.92 17.07 19.15 20.87 21.23

7.92 9.71 10.98 12.70 12.99

28.60 35.09 39.08 40.35 40.82

24.37 26.05 27.35 29.30 29.70

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

29.51 29.87 27.59 26.88 29.07

28.42 28.11 25.57 24.84 26.80

21.37 20.60 17.91 17.54 19.43

50.97 52.30 50.72 48.69 50.61

30.92 34.21 33.26 32.71 35.63

21.07 21.62 21.35 24.04 29.89

19.65 20.06 19.55 22.21 27.58

13.09 14.18 14.34 17.28 23.00

35.15 34.09 32.10 34.19 38.94

29.04 30.71 32.35 34.96 43.72

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

29.95 32.26 35.74 41.47 46.23

27.79 29.22 32.46 38.57 43.17

21.00 22.22 25.37 31.48 35.91

49.29 51.26 54.32 59.87 64.72

36.05 41.33 45.50 49.62 54.72

31.83 34.56 36.60 38.04 39.71

29.31 32.31 33.81 35.18 36.69

25.30 27.64 28.87 30.07 31.42

39.41 44.06 46.28 48.05 49.93

47.05 47.64 53.21 55.01 57.68

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

50.39 53.74 57.44 59.29 64.45

46.81 50.04 53.79 55.53 60.94

39.75 42.70 46.11 48.51 54.38

67.46 71.44 76.06 75.51 79.09

60.48 64.08 67.59 69.73 74.10

41.14 40.91 43.75 47.58 53.26

37.77 37.74 41.26 45.42 51.47

32.25 32.43 35.82 40.07 46.69

51.65 51.07 54.85 58.66 62.93

61.43 59.85 58.32 60.03 63.42

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

70.98 76.93 86.08 88.16 91.97

68.07 74.09 84.72 86.61 89.91

62.13 69.37 81.90 84.53 88.48

84.20 86.81 92.35 92.28 93.77

78.79 84.48 89.51 92.08 97.21

57.54 62.54 71.04 79.30 88.39

56.10 61.34 70.17 78.36 88.08

52.04 57.61 67.05 75.77 86.73

65.52 69.82 77.20 84.14 90.90

65.49 69.09 75.60 84.22 90.04

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

100.00 94.57 92.43 94.06 101.97

100.00 93.87 90.14 91.76 99.90

100.00 91.73 86.29 87.80 97.63

100.00 99.59 100.46 102.39 106.44

100.00 96.30 98.10 99.78 107.12

100.00 97.29 100.60 105.21 116.50

100.00 96.83 100.38 105.29 116.83

100.00 93.76 97.61 101.78 115.72

100.00 102.90 105.83 112.16 119.54

100.00 99.71 101.82 104.92 114.99

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

89.41 90.42 92.81 95.24

86.96 87.95 90.85 93.87

85.44 86.18 89.51 92.77

91.07 92.72 94.43 96.84

95.63 96.71 97.79 98.70

84.17 87.17 90.21 92.01

83.49 86.79 90.04 91.99

81.40 85.17 88.70 91.65

88.01 90.18 92.80 92.61

87.76 89.16 91.09 92.14

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

96.77 99.61 102.16 101.46

95.86 99.02 103.27 101.85

95.51 99.58 103.06 101.85

96.81 97.52 103.81 101.86

99.06 101.09 99.38 100.47

95.64 99.37 102.70 102.29

95.47 99.43 102.76 102.35

95.68 99.15 102.60 102.57

94.97 99.94 103.08 102.01

96.60 99.08 102.40 101.92

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.08 96.75 92.01 89.42

100.44 95.84 90.64 88.57

100.03 94.11 87.91 84.87

101.52 100.43 97.90 98.49

99.19 99.02 95.44 91.56

101.33 97.97 95.35 94.52

101.46 96.88 94.73 94.26

99.05 93.79 91.67 90.51

106.14 102.92 100.77 101.78

100.62 103.69 98.59 95.92

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

90.56 92.86 93.52 92.78

88.21 91.18 91.67 89.52

84.00 87.38 88.22 85.59

99.53 101.38 100.92 100.01

96.39 97.03 98.12 100.87

97.17 100.08 101.47 103.69

96.36 100.00 101.58 103.57

93.72 97.77 99.23 99.72

101.55 104.39 106.24 111.12

101.36 100.58 101.00 104.37

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

92.10 91.62 94.16 98.37

89.84 89.84 91.83 95.54

84.98 85.79 87.60 92.82

102.74 100.65 103.11 103.06

97.71 96.06 99.94 105.40

103.02 103.87 104.92 109.00

102.89 104.48 104.71 109.07

98.93 100.60 100.78 106.81

110.59 112.02 112.34 113.66

103.80 101.04 106.05 108.79

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.59 101.27 102.62 104.40

97.29 99.15 101.12 102.03

94.62 96.94 99.21 99.73

104.74 105.53 106.82 108.67

105.30 106.53 106.37 110.28

112.13 116.00 117.33 120.52

112.31 116.23 117.56 121.22

109.53 115.30 117.41 120.64

117.89 118.61 118.64 123.04

111.40 115.03 116.32 117.22

1Exports

and imports of certain goods, primarily military equipment purchased and sold by the federal government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.

152

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-3. Chain-Type Price Indexes for Exports and Imports of Goods and Services (Index numbers, 2000 = 100.)

NIPA Table 4.2.4 Exports of goods and services

Imports of goods and services

Goods 1

Year and quarter

Goods 1 Services 1

Total Total

Durable

Services 1

Total

Nondurable

Total

Durable

Nondurable

1967 ................................. 1968 ................................. 1969 .................................

33.73 34.46 35.63

38.56 39.16 40.37

43.39 45.14 47.11

30.65 30.08 30.44

24.29 25.26 26.31

23.69 24.05 24.68

23.75 24.07 24.75

34.60 35.16 36.28

15.07 15.22 15.58

22.86 23.30 23.78

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

36.99 38.36 40.15 45.43 55.97

42.19 43.32 44.47 51.62 65.32

49.31 50.45 51.47 55.04 65.09

31.74 32.76 33.95 44.13 60.89

26.81 28.58 31.47 32.94 36.74

26.14 27.74 29.68 34.84 49.85

26.43 27.78 29.91 35.26 52.76

38.74 41.10 44.72 51.48 63.24

16.64 17.29 18.35 22.33 41.59

24.62 26.85 28.19 32.61 38.78

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

61.68 63.71 66.30 70.34 78.81

72.60 74.46 77.17 81.62 92.40

75.12 80.15 83.82 88.98 99.03

64.38 62.46 63.92 67.25 77.99

39.21 41.58 43.92 47.10 50.77

54.00 55.62 60.52 64.80 75.88

57.18 58.71 64.08 68.36 80.61

70.19 71.32 76.76 85.45 94.25

44.14 45.72 50.50 51.80 65.09

41.92 43.82 46.93 51.20 57.82

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

86.80 93.22 93.65 94.02 94.89

101.28 108.43 107.19 106.41 107.33

109.60 119.47 122.31 120.58 119.66

84.33 87.98 82.79 82.98 85.66

57.02 61.97 65.73 68.31 69.06

94.51 99.59 96.24 92.63 91.83

101.71 107.38 103.04 98.73 98.05

104.21 108.33 106.34 103.87 101.97

91.95 98.36 92.40 86.72 87.39

67.10 70.01 70.06 68.91 67.73

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

91.98 90.64 92.87 97.69 99.31

101.96 98.62 101.17 107.69 109.08

114.83 112.74 112.81 116.52 117.32

80.17 75.62 80.98 90.85 93.04

70.94 73.34 74.94 76.45 78.50

88.81 88.87 94.25 98.77 100.94

94.19 92.08 98.65 103.35 106.27

98.34 105.26 111.52 119.45 120.39

83.51 70.44 76.97 77.46 82.61

67.65 75.25 76.32 80.11 79.66

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

99.98 101.31 100.89 100.90 102.03

108.03 107.91 106.19 105.59 106.72

115.79 116.12 114.51 113.73 112.96

92.77 91.94 90.08 89.83 94.28

82.54 86.69 88.86 90.07 91.21

103.83 103.42 103.55 102.67 103.63

108.18 106.70 106.20 104.95 105.76

118.90 118.63 117.99 117.56 118.56

88.56 85.70 85.41 83.14 83.66

85.68 88.88 91.26 91.87 93.46

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

104.38 102.99 101.23 98.91 98.31

109.25 106.41 103.50 100.22 98.87

111.44 106.81 103.60 101.24 99.94

104.46 105.27 103.05 97.61 96.11

93.14 94.95 95.86 95.77 96.97

106.41 104.53 100.82 95.35 95.96

108.57 105.87 101.47 95.33 95.46

119.65 112.87 106.90 102.36 100.41

88.98 92.77 91.01 82.22 86.07

96.06 98.05 97.69 95.55 98.63

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

100.00 99.62 99.27 101.40 105.00

100.00 99.32 98.66 100.64 104.41

100.00 99.80 99.18 99.26 101.02

100.00 98.08 97.36 103.63 112.11

100.00 100.39 100.76 103.24 106.44

100.00 97.50 96.34 99.61 104.57

100.00 97.00 95.29 98.07 102.97

100.00 98.09 96.12 95.92 97.95

100.00 94.98 93.73 101.80 111.92

100.00 100.13 101.88 107.76 113.01

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

97.96 98.15 98.35 98.81

98.71 98.63 98.80 99.33

100.18 99.97 99.68 99.94

94.96 95.21 96.53 97.73

96.15 96.97 97.23 97.53

94.02 95.27 96.63 97.91

93.48 94.67 96.10 97.57

101.13 100.42 100.07 100.02

79.18 83.78 88.49 92.83

96.88 98.45 99.46 99.74

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.46 99.99 100.22 100.33

99.64 100.03 100.12 100.21

99.85 99.93 100.17 100.06

99.10 100.32 99.98 100.59

99.01 99.88 100.49 100.63

99.32 99.49 100.51 100.69

99.18 99.47 100.57 100.77

100.30 100.24 100.03 99.43

97.05 98.02 101.62 103.31

100.05 99.55 100.16 100.23

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.35 100.02 99.51 98.62

100.17 99.78 99.13 98.17

100.17 100.06 99.66 99.31

100.15 99.02 97.76 95.39

100.78 100.61 100.45 99.74

99.93 98.42 97.09 94.56

99.80 98.11 96.47 93.61

99.30 98.56 97.70 96.79

100.68 97.23 94.16 87.86

100.61 100.05 100.34 99.51

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

98.36 99.05 99.77 99.91

97.83 98.36 99.16 99.29

99.26 99.16 99.21 99.08

94.43 96.40 98.95 99.66

99.65 100.72 101.25 101.42

94.15 96.47 97.30 97.44

93.14 95.56 96.18 96.27

96.22 96.27 96.20 95.79

87.53 94.24 96.07 97.08

99.43 101.26 103.24 103.59

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.91 101.17 101.40 102.12

100.16 100.57 100.40 101.41

99.24 99.37 99.16 99.28

102.13 103.15 103.08 106.15

102.71 102.62 103.79 103.82

100.07 98.94 99.58 99.85

99.01 97.31 97.91 98.03

95.72 95.71 96.01 96.24

104.75 100.11 101.22 101.13

105.60 107.53 108.39 109.50

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.58 104.80 105.24 106.37

103.03 104.36 104.63 105.61

100.11 100.74 101.32 101.92

109.65 112.64 112.12 114.03

104.94 105.90 106.74 108.20

102.18 103.81 105.27 107.03

100.41 102.34 103.69 105.44

97.15 97.91 98.27 98.47

106.12 110.14 113.36 118.06

111.50 111.57 113.59 115.38

1Exports

and imports of certain goods, primarily military equipment purchased and sold by the federal government, are included in services. Beginning with 1986, repairs and alterations of equipment are reclassified from goods to services.

153

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE Table 7-4. Exports and Imports of Selected NIPA Types of Product (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Table 4.2.5

Exports

Imports

Goods

Year and quarter

1967 ........................... 1968 ........................... 1969 ...........................

Industrial Foods, supplies feeds, and and beverages materials

Capital goods, except automotive

Services

AutoConsumer motive goods, vehicles, except engines, autoand parts motive

Travel

Goods

Industrial Other supplies private and Foods, Petroleum services materials, and (financial, feeds, and except products profes- beverages petroleum sional, and etc.) products

Services

Capital goods, except automotive

AutoConsumer motive goods, vehicles, except engines, autoand parts motive

Travel

Other private services (financial, professional, etc.)

5.0 4.8 4.7

10.0 11.0 11.7

9.9 11.1 12.4

2.8 3.5 3.9

2.1 2.3 2.6

1.6 1.8 2.0

0.7 0.8 0.9

4.6 5.3 5.2

9.9 12.0 11.7

2.1 2.4 2.6

2.5 2.8 3.4

2.4 4.0 5.1

4.2 5.4 6.5

3.2 3.0 3.4

0.4 0.5 0.6

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

5.9 6.1 7.5 15.2 18.6

13.8 12.6 13.9 19.7 29.9

14.7 15.4 16.9 22.0 30.9

3.9 4.7 5.5 7.0 8.8

2.8 2.9 3.6 4.8 6.4

2.3 2.5 2.8 3.4 4.0

1.0 1.3 1.5 1.7 3.0

6.1 6.4 7.3 9.1 10.6

12.2 13.6 16.0 19.2 27.0

2.9 3.7 4.7 8.4 26.6

4.0 4.3 5.9 8.3 9.8

5.7 7.6 9.0 10.7 12.4

7.4 8.4 11.1 12.9 14.4

4.0 4.4 5.0 5.5 6.0

0.6 0.7 0.8 0.9 1.9

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

19.2 19.8 19.7 25.7 30.5

29.3 31.6 33.2 38.4 53.3

36.6 39.1 39.8 47.5 60.2

10.8 12.2 13.5 15.2 17.9

6.6 8.0 8.9 11.4 14.0

4.7 5.7 6.2 7.2 8.4

3.7 4.5 4.9 6.2 7.3

9.6 11.5 14.0 15.8 18.0

23.6 28.5 33.4 39.3 45.0

27.0 34.6 45.0 42.6 60.4

10.2 12.3 14.0 19.3 24.6

12.1 16.8 19.4 25.0 26.6

13.2 17.2 21.8 29.4 31.3

6.4 6.9 7.5 8.5 9.4

2.3 2.9 3.2 3.9 4.6

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

36.3 38.8 32.2 32.1 32.2

68.0 65.7 61.8 57.1 61.9

76.3 84.2 76.5 71.7 77.0

17.4 19.7 17.2 18.5 22.4

17.8 17.7 16.1 14.9 15.1

10.6 12.9 12.4 10.9 17.2

8.6 13.2 16.9 17.6 18.6

18.6 18.6 17.5 18.8 21.9

47.3 52.0 45.4 51.1 62.6

79.5 78.4 62.0 55.1 58.1

31.6 37.1 38.4 43.7 60.4

28.3 31.0 34.3 43.0 56.5

34.3 38.4 39.7 47.3 61.1

10.4 11.5 12.4 13.2 22.9

5.1 6.3 7.4 7.3 8.2

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

24.6 23.5 25.2 33.8 36.3

59.4 59.0 67.4 84.2 95.3

79.3 82.8 92.7 119.1 136.9

24.9 25.1 27.6 33.4 35.0

14.6 16.7 20.3 27.0 36.0

17.8 20.4 23.6 29.4 36.2

19.4 28.5 29.8 31.6 37.2

21.8 24.4 24.8 24.9 24.9

59.2 62.5 66.1 76.6 78.8

51.4 34.3 42.9 39.6 50.9

61.3 72.0 85.1 102.2 112.4

64.9 78.1 85.2 87.9 87.2

66.3 79.4 88.8 96.4 103.6

24.6 25.9 29.3 32.1 33.4

9.4 14.2 17.7 18.9 20.4

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

35.2 35.8 40.3 40.6 42.0

101.8 106.1 105.0 102.8 115.7

153.1 166.6 176.5 182.9 205.8

36.1 39.7 46.7 51.3 57.3

43.6 46.7 51.3 54.6 59.9

43.0 48.4 54.7 57.9 58.4

40.8 48.3 50.6 53.8 61.3

26.4 26.2 27.6 27.9 31.0

78.2 75.6 82.4 88.7 105.0

62.3 51.7 51.6 51.5 51.3

116.3 121.0 134.6 152.9 185.0

88.4 85.7 91.7 102.4 118.1

104.9 107.6 122.4 133.7 145.9

37.4 35.3 38.6 40.7 43.8

23.9 27.6 26.1 28.7 32.6

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

50.5 55.5 51.5 46.4 46.0

141.3 141.0 152.6 142.8 142.4

234.5 254.0 295.9 299.9 311.2

61.3 64.2 73.3 72.4 75.3

64.3 70.1 78.0 80.3 80.9

63.4 69.8 73.4 71.3 74.8

65.5 73.7 84.5 92.6 105.2

33.2 35.7 39.7 41.2 43.6

119.9 125.2 135.3 142.5 147.9

56.0 72.7 71.7 50.6 67.8

222.2 228.5 253.4 269.4 295.7

123.6 128.7 139.5 148.7 179.0

159.4 171.9 194.1 217.1 242.0

44.9 48.1 52.1 56.5 59.0

36.2 40.5 44.6 49.6 58.1

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

47.9 49.4 49.6 55.0 56.6

166.6 155.3 153.5 168.3 199.5

357.0 321.7 290.4 293.6 331.5

80.4 75.4 78.9 80.7 89.3

89.4 88.3 84.4 89.9 103.1

82.4 71.9 66.6 64.3 74.5

109.3 116.3 125.3 136.2 145.4

46.0 46.6 49.7 55.8 62.1

172.8 164.8 158.4 174.4 225.1

120.2 103.6 103.5 133.1 180.5

347.0 298.0 283.3 295.8 343.5

195.9 189.8 203.7 210.2 228.2

282.0 284.5 308.0 334.0 373.1

64.7 60.2 58.7 57.4 65.6

64.0 70.9 77.3 86.2 95.7

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

43.8 45.8 47.9 46.4

134.0 138.0 143.3 154.3

302.0 301.2 315.4 326.5

73.2 74.7 75.9 77.2

78.8 79.4 81.0 84.4

72.5 73.4 75.3 78.1

102.4 104.3 106.1 107.9

42.3 43.9 43.7 44.5

138.5 143.2 150.6 159.2

42.1 63.7 79.6 85.7

278.9 291.6 300.8 311.5

170.3 175.2 183.5 186.9

230.1 234.6 246.6 257.0

57.2 58.3 59.2 61.1

56.2 58.5 58.9 58.7

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

46.4 47.9 49.7 47.4

160.2 163.3 171.6 171.5

329.5 356.4 374.2 367.9

83.5 80.2 79.2 78.5

87.6 88.8 91.6 89.5

81.9 84.1 81.4 82.2

106.3 108.0 110.2 112.8

44.9 45.9 46.8 46.4

164.9 169.9 176.7 179.6

107.8 117.9 127.9 127.1

320.4 346.2 362.2 359.3

197.3 195.4 197.4 193.5

266.7 280.0 287.0 294.4

65.1 64.6 64.3 64.8

61.5 62.6 65.1 66.9

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

49.7 49.7 49.3 49.0

165.2 157.9 151.5 146.6

364.2 331.8 302.1 288.8

73.5 76.8 76.5 74.9

92.7 91.5 85.1 84.0

82.9 78.5 69.5 56.7

114.1 114.9 116.4 119.8

45.7 45.7 48.0 47.1

186.2 167.6 157.0 148.4

125.3 108.6 97.1 83.4

339.4 299.9 280.0 272.8

189.1 190.4 191.6 188.0

291.7 286.6 282.4 277.3

63.5 66.9 58.4 51.9

68.2 71.4 72.0 72.0

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

48.9 49.2 50.7 49.6

145.0 154.7 156.6 157.6

285.2 293.5 297.2 285.9

75.0 81.0 80.7 79.0

82.6 84.3 85.5 85.0

64.6 64.6 65.1 72.0

123.3 124.8 124.6 128.7

47.2 49.0 50.7 51.8

148.3 156.9 161.0 167.4

81.4 104.0 106.9 121.6

277.5 285.5 285.4 284.9

193.5 203.5 209.0 209.1

287.4 305.9 317.7 320.8

58.2 58.0 58.0 60.7

75.8 75.1 77.8 80.4

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

52.3 53.5 55.9 58.4

166.7 165.9 167.1 173.3

282.1 283.4 294.2 314.7

79.8 81.8 78.3 82.9

87.0 87.9 90.9 93.8

63.2 57.3 64.7 72.1

133.6 133.4 136.2 141.7

54.1 54.9 56.4 58.0

172.1 170.2 175.5 179.6

142.4 124.9 131.7 133.4

285.6 292.6 294.3 310.7

205.3 210.6 205.2 219.6

328.3 327.8 333.2 346.7

58.0 52.0 58.6 61.3

83.7 84.4 86.9 89.8

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

56.5 56.8 55.6 57.4

187.1 197.0 202.7 211.2

322.7 329.2 336.7 337.3

84.0 87.2 92.3 93.7

98.2 102.1 103.8 108.2

71.6 74.7 74.7 76.9

140.8 143.9 144.4 152.7

60.0 62.3 61.9 64.3

197.2 221.2 235.9 246.2

160.2 166.1 180.5 215.1

323.1 341.9 351.1 357.7

221.7 228.7 230.1 232.5

358.4 375.9 370.4 387.6

63.5 66.0 66.4 66.6

91.1 94.0 96.6 101.0

154

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-5. Chain-Type Quantity Indexes for Exports and Imports of Selected NIPA Types of Product (Index numbers, 2000 = 100.)

NIPA Table 4.2.3 Exports

Imports

Goods

Year and quarter

Industrial Foods, supplies feeds, and and beverages materials

Capital goods, except automotive

Services

AutoConsumer motive goods, vehicles, except engines, autoand parts motive

Travel

Goods

Industrial Other supplies private and services Foods, Petroleum materials, (financial, feeds, and and except profes- beverages products petroleum sional, and etc.) products

Services

Capital goods, except automotive

AutoConsumer motive goods, vehicles, except engines, autoand parts motive

Travel

Other private services (financial, professional, etc.)

1967 ........................... 1968 ........................... 1969 ...........................

26.36 25.94 25.40

23.08 26.26 27.46

4.04 4.16 4.41

17.27 21.28 23.00

7.81 8.49 9.09

9.91 10.24 11.18

2.54 2.63 2.89

35.29 40.04 37.94

24.28 28.90 27.35

20.44 23.54 26.27

0.77 0.88 1.03

8.39 13.06 15.95

5.92 7.48 8.82

17.14 15.53 16.85

1.75 1.98 2.20

1970 1971 1972 1973 1974

........................... ........................... ........................... ........................... ...........................

30.65 29.84 35.22 45.60 40.86

30.75 27.80 29.61 36.43 37.49

4.93 5.15 5.64 7.16 8.94

22.47 25.47 28.59 33.56 37.44

9.64 9.67 11.30 13.78 17.14

12.06 12.59 13.52 15.53 16.90

3.09 3.59 4.00 4.36 7.12

40.53 41.84 44.54 45.67 42.25

27.64 30.12 33.05 33.27 32.41

28.37 32.45 39.63 56.30 54.20

1.07 1.06 1.36 1.68 1.79

16.31 19.89 21.55 22.24 23.62

9.49 9.98 12.17 12.49 11.24

19.44 19.42 21.01 19.82 17.79

2.30 2.54 2.62 2.93 5.90

1975 1976 1977 1978 1979

........................... ........................... ........................... ........................... ...........................

43.23 49.05 49.01 60.55 64.23

32.79 35.42 35.71 39.47 45.20

9.08 8.96 8.81 10.06 12.08

39.42 41.21 41.51 42.62 42.89

15.80 17.82 19.27 22.25 23.39

18.27 20.82 20.86 22.41 24.03

8.26 9.56 9.85 11.67 13.00

37.37 42.54 42.11 47.28 48.53

27.30 33.25 35.77 39.17 37.63

53.30 64.27 77.32 73.10 73.94

1.70 2.06 2.20 2.84 3.47

18.75 24.84 26.31 28.47 27.53

8.71 11.24 13.58 16.68 16.81

17.16 18.25 18.81 19.43 18.95

6.67 8.01 8.39 9.80 11.10

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

72.41 73.93 69.46 66.39 64.60

51.30 47.84 46.40 44.14 46.40

14.10 14.15 12.51 12.07 13.37

36.12 35.71 29.26 30.27 35.72

28.35 27.18 24.46 22.37 22.26

26.84 29.62 26.41 22.30 33.26

13.89 19.87 23.96 23.67 24.00

42.24 43.95 44.80 48.62 55.08

32.84 35.65 32.32 38.38 47.60

59.72 52.33 45.00 44.54 47.05

4.09 4.82 5.24 6.34 9.48

27.28 26.40 28.25 34.58 44.44

16.93 18.54 19.38 23.32 29.44

18.93 20.02 23.74 26.89 49.15

11.33 13.35 15.14 14.18 15.89

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

55.91 57.68 61.73 67.84 70.75

46.67 48.75 49.97 56.33 62.58

14.69 16.03 18.51 23.53 27.29

38.87 38.23 41.21 48.91 50.14

21.60 23.89 28.11 35.91 46.21

32.93 36.74 40.54 48.91 58.46

23.96 34.02 34.06 35.63 41.11

57.46 58.82 60.29 57.90 59.22

47.87 50.41 49.92 50.46 49.33

44.18 54.62 57.05 63.10 68.06

10.68 12.12 13.84 15.96 18.07

49.79 53.90 55.31 53.92 52.45

32.14 35.61 36.76 37.30 39.03

54.25 50.43 59.80 61.45 63.32

17.71 25.44 28.93 30.85 35.90

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

73.20 74.65 84.50 83.96 83.99

66.23 70.80 72.10 70.20 74.12

31.59 34.55 37.86 40.34 46.54

50.17 53.75 62.03 67.60 74.75

54.13 56.05 60.35 63.43 69.35

65.94 69.86 77.51 81.30 81.70

43.21 49.12 50.06 52.14 58.50

61.49 58.71 61.98 62.70 64.13

50.07 49.15 54.04 58.63 67.37

68.97 65.55 67.94 74.98 79.61

19.48 20.94 24.26 28.29 34.76

52.72 49.18 51.72 56.86 63.56

38.34 38.99 43.05 46.63 50.52

67.65 61.26 63.07 66.16 68.51

38.87 43.16 40.76 43.70 49.82

1995 1996 1997 1998 1999

........................... ........................... ........................... ........................... ...........................

93.15 91.66 91.84 90.93 94.44

79.87 83.60 90.83 89.84 90.89

55.43 64.24 78.76 82.12 86.65

78.89 81.83 92.64 91.39 94.43

73.51 79.08 87.29 89.90 90.91

87.60 94.21 96.90 93.09 95.14

61.25 67.64 76.58 83.98 96.91

65.71 72.26 79.60 85.42 93.39

70.74 74.90 81.05 89.81 93.67

78.21 84.38 88.20 93.94 94.46

42.80 50.29 63.05 72.46 83.19

64.62 66.84 72.30 76.96 92.01

54.40 58.49 66.85 75.79 85.08

69.05 71.76 77.95 88.11 89.82

55.29 61.10 67.28 76.53 89.56

2000 2001 2002 2003 2004

........................... ........................... ........................... ........................... ...........................

100.00 102.86 100.78 102.56 95.95

100.00 96.10 96.40 98.86 105.13

100.00 90.18 82.36 84.19 95.09

100.00 93.56 97.41 98.86 108.56

100.00 99.19 95.21 100.90 114.59

100.00 86.93 81.20 76.89 86.10

100.00 106.32 114.72 123.15 128.28

100.00 104.61 110.13 118.68 125.49

100.00 96.37 99.12 100.79 116.58

100.00 103.71 101.08 107.62 114.65

100.00 88.60 87.16 92.36 108.37

100.00 96.96 103.78 106.48 113.70

100.00 101.71 111.25 120.90 134.13

100.00 95.27 90.22 82.23 87.12

100.00 110.85 118.35 131.61 144.07

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

88.63 93.59 98.94 96.60

87.40 89.52 90.81 95.82

83.63 83.67 88.15 91.13

92.13 93.87 95.30 96.43

88.58 89.32 91.08 94.67

93.90 93.57 95.23 97.87

93.61 95.47 98.01 100.55

89.85 93.47 94.46 95.76

89.53 92.11 94.56 98.47

92.72 98.95 97.49 88.69

76.70 81.71 85.54 88.79

87.82 90.09 94.24 95.87

80.49 82.53 86.85 90.43

87.23 89.17 90.43 92.44

86.02 88.91 90.97 92.32

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

96.68 98.49 106.04 98.79

97.48 97.94 102.32 102.27

92.37 100.02 104.66 102.96

104.20 99.87 98.41 97.52

98.02 99.26 102.36 100.36

101.00 102.02 98.24 98.75

97.77 99.11 100.17 102.96

96.52 99.21 102.15 102.11

99.64 99.73 100.99 99.64

94.45 102.82 102.22 100.51

91.58 99.39 104.45 104.58

101.03 99.74 100.62 98.62

94.15 99.26 101.85 104.74

98.43 99.42 99.57 102.57

96.30 98.20 100.91 104.60

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

103.27 104.27 101.21 102.71

99.28 96.18 94.61 94.34

101.67 92.69 84.91 81.44

91.34 95.16 94.81 92.92

104.03 103.01 95.58 94.13

99.64 94.07 84.26 69.76

103.68 105.18 106.40 110.00

100.47 102.51 108.91 106.54

100.04 95.13 95.50 94.82

113.68 102.52 94.39 104.26

99.31 88.75 83.82 82.52

96.46 97.36 98.11 95.91

103.82 102.37 101.03 99.61

100.35 106.38 92.24 82.09

106.37 111.91 112.62 112.52

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

102.99 102.67 100.39 97.05

94.10 97.66 96.89 96.95

80.48 83.12 84.36 81.46

92.81 100.17 99.51 97.17

93.27 95.37 96.45 95.74

79.49 78.75 79.35 87.20

113.30 113.93 113.82 117.83

106.97 109.51 112.10 111.96

95.72 97.96 100.13 102.68

101.62 98.90 95.59 108.22

84.83 87.50 87.74 88.57

98.81 103.80 106.38 106.14

103.61 110.60 114.75 116.03

92.55 89.94 87.49 90.89

117.09 114.22 118.72 123.35

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

101.73 101.45 105.06 102.00

99.02 97.66 98.53 100.21

80.52 80.97 84.56 90.71

97.96 100.34 95.83 101.33

97.94 98.83 101.99 104.85

75.92 69.19 77.10 85.35

121.43 120.85 122.50 127.81

115.19 117.00 119.91 122.62

98.95 99.03 101.95 103.22

105.69 107.68 107.32 109.79

88.96 91.25 91.81 97.42

104.32 106.84 104.07 110.69

118.90 118.65 120.61 125.42

85.68 74.44 83.93 84.89

127.81 128.92 132.18 137.51

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

94.50 89.80 96.72 102.80

103.39 105.77 105.48 105.89

92.84 94.51 96.56 96.45

102.57 106.18 112.08 113.40

109.59 113.81 115.09 119.88

84.21 86.49 86.04 87.68

125.62 127.22 127.26 133.02

123.99 126.18 125.22 126.57

107.36 115.40 120.52 123.06

118.49 109.90 109.77 120.46

101.16 107.83 111.09 113.39

111.20 114.24 114.42 114.92

128.75 135.22 133.38 139.16

84.68 89.96 89.07 84.78

138.43 141.61 142.52 153.72

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

Section 7b: U.S. International Transactions Accounts

Figure 7-2. Balance on Current Account and Financial Inflows and Outflows, 1960–2004

Billions of dollars

1,500 Balance on current account

1,000

Financial outflows Financial inflows

500

0

-500

-1,000 1960

1965

1970

1975

1980

1985

1990

1995

2000

2004

Year

• The U.S. current-account international balance is also recorded in the international transactions accounts (ITAs). The definitional differences between this balance and the balance in the NIPAs are minor, and the trends in the two measures are similar. The ITAs measure the current account surplus or deficit (commonly known as the “balance of payments”), and directly measure the financial flows required to finance it. (Table 7-6) • Figure 7-2 above shows the ITA current-account balance since 1960, culminating in a $668 billion deficit in 2004. U.S. investment in assets abroad contributed a further outflow, amounting to $856 billion in 2004. Financing the sum of these was a financial inflow, or increase in foreign-owned assets in the United States, of $1.44 trillion. The financial outflows and inflows both increased by large amounts in 2004. The net of the financial flows does not equal the current-account balance because of a capital transactions item—typically small, as it was in 2004—and the large ITA statistical discrepancy. (Table 7-6) • Both official and private foreign entities increased their lending to the United States in 2004. U.S. banks borrowed $323 billion abroad, but invested $356 billion abroad—both sharply increased from 2003 levels. (Table 7-6) • Before the 1980s, the United States was a net creditor with respect to the rest of the world. In other words, the value of U.S.-owned assets abroad exceeded the value of foreign-owned assets in the United States. Since then, the persistent net financial inflows associated with current-account deficits have cumulated, resulting in a growing net debtor status, with the value of foreign-owned assets in the United States exceeding the value of U.S.-owned assets abroad by $2.5 trillion as of the end of 2004. (Table 7-8)

155

156

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-6. U.S. International Transactions (Millions of dollars, seasonally adjusted.) Current account Exports of goods and services and income receipts Income receipts Income receipts on U.S.-owned assets abroad Year and quarter Total

Exports of goods and services

Exports of goods

Exports of services

Total Total

Direct investment receipts

Other private receipts

U.S. government receipts

Compensation of employees

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

30 556 31 402 33 340 35 776 40 165

25 940 26 403 27 722 29 620 33 341

19 650 20 108 20 781 22 272 25 501

6 290 6 295 6 941 7 348 7 840

4 616 4 999 5 618 6 157 6 824

4 616 4 999 5 618 6 157 6 824

3 621 3 823 4 241 4 636 5 106

646 793 904 1 022 1 256

349 383 473 499 462

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

42 722 46 454 49 353 54 911 60 132

35 285 38 926 41 333 45 543 49 220

26 461 29 310 30 666 33 626 36 414

8 824 9 616 10 667 11 917 12 806

7 437 7 528 8 021 9 367 10 913

7 437 7 528 8 021 9 367 10 913

5 506 5 260 5 603 6 591 7 649

1 421 1 669 1 781 2 021 2 338

510 599 636 756 925

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

68 387 72 384 81 986 113 050 148 484

56 640 59 677 67 222 91 242 120 897

42 469 43 319 49 381 71 410 98 306

14 171 16 358 17 841 19 832 22 591

11 748 12 707 14 765 21 808 27 587

11 748 12 707 14 765 21 808 27 587

8 169 9 160 10 949 16 542 19 157

2 671 2 641 2 949 4 330 7 356

907 906 866 936 1 074

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

157 936 172 090 184 655 220 516 287 965

132 585 142 716 152 301 178 428 224 131

107 088 114 745 120 816 142 075 184 439

25 497 27 971 31 485 36 353 39 692

25 351 29 375 32 354 42 088 63 834

25 351 29 375 32 354 42 088 63 834

16 595 18 999 19 673 25 458 38 183

7 644 9 043 11 057 14 788 23 356

1 112 1 332 1 625 1 843 2 295

... ... ... ... ...

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

344 440 380 928 366 983 356 106 399 913

271 834 294 398 275 236 266 106 291 094

224 250 237 044 211 157 201 799 219 926

47 584 57 354 64 079 64 307 71 168

72 606 86 529 91 747 90 000 108 819

72 606 86 529 91 747 90 000 108 819

37 146 32 549 29 469 31 750 35 325

32 898 50 300 58 160 53 418 68 267

2 562 3 680 4 118 4 832 5 227

... ... ... ... ...

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

387 612 407 098 457 053 567 862 648 290

289 070 310 033 348 869 431 149 487 003

215 915 223 344 250 208 320 230 359 916

73 155 86 689 98 661 110 919 127 087

98 542 97 064 108 184 136 713 161 287

98 542 96 156 107 190 135 718 160 270

35 410 36 938 46 288 58 445 61 981

57 633 52 806 55 592 70 571 92 638

5 499 6 413 5 311 6 703 5 651

... 908 994 995 1 017

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

706 975 727 557 750 648 778 921 869 775

535 233 578 343 616 882 642 863 703 254

387 401 414 083 439 631 456 943 502 859

147 832 164 260 177 251 185 920 200 395

171 742 149 214 133 767 136 057 166 521

170 570 147 924 131 971 134 237 164 578

65 973 58 718 57 539 67 245 77 344

94 072 81 186 67 316 61 865 83 106

10 525 8 019 7 115 5 126 4 128

1 172 1 290 1 796 1 820 1 943

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 004 631 1 077 731 1 191 441 1 195 314 1 260 368

794 387 851 602 934 637 933 495 966 443

575 204 612 113 678 366 670 416 683 965

219 183 239 489 256 271 263 079 282 478

210 244 226 129 256 804 261 819 293 925

208 065 223 948 254 534 259 382 291 177

95 260 102 505 115 323 103 963 131 626

108 092 116 852 135 652 151 818 156 354

4 713 4 591 3 559 3 601 3 197

2 179 2 181 2 270 2 437 2 748

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 422 402 1 295 441 1 248 068 1 332 397 1 530 975

1 071 484 1 007 138 977 276 1 022 567 1 151 448

771 994 718 712 682 422 713 421 807 536

299 490 288 426 294 854 309 146 343 912

350 918 288 303 270 792 309 830 379 527

348 083 285 372 267 849 306 854 376 489

151 839 128 665 145 590 193 289 233 067

192 398 153 146 118 956 108 868 140 424

3 846 3 561 3 303 4 697 2 998

2 835 2 931 2 943 2 976 3 038

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

341 910 355 482 360 539 364 471

258 607 266 737 273 717 272 422

185 253 191 227 198 811 196 703

73 354 75 510 74 906 75 719

83 303 88 745 86 822 92 049

82 581 88 056 86 104 91 343

37 085 38 140 36 306 40 309

44 430 48 777 48 953 50 238

1 066 1 139 845 796

722 689 718 706

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

350 876 335 316 311 942 297 308

268 914 259 475 244 046 234 703

193 976 185 030 172 648 167 058

74 938 74 445 71 398 67 645

81 962 75 841 67 896 62 605

81 200 75 123 67 162 61 888

34 109 33 106 30 833 30 617

46 198 41 240 35 479 30 229

893 777 850 1 042

762 718 734 717

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

301 512 312 943 319 154 314 463

236 555 244 952 248 379 247 390

165 171 172 131 174 241 170 879

71 384 72 821 74 138 76 511

64 957 67 991 70 775 67 073

64 198 67 267 70 044 66 344

34 034 35 931 38 540 37 089

29 351 30 630 30 654 28 321

813 706 850 934

759 724 731 729

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

318 950 322 353 333 656 357 435

248 244 248 481 256 062 269 782

173 167 174 696 178 186 187 372

75 077 73 785 77 876 82 410

70 706 73 872 77 594 87 653

69 979 73 156 76 838 86 876

42 080 45 679 48 398 57 129

27 056 26 236 27 151 28 425

843 1 241 1 289 1 322

727 716 756 777

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

363 494 376 564 385 874 405 041

277 093 285 099 290 370 298 887

193 789 200 072 204 801 208 874

83 304 85 027 85 569 90 013

86 401 91 465 95 504 106 154

85 657 90 738 94 734 105 357

55 096 57 053 57 863 63 053

29 758 32 972 36 117 41 577

803 713 754 727

744 727 770 797

. . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

157

Table 7-6. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Current account—Continued Imports of goods and services and income payments 1 Income payments Income payments on foreign-owned assets in the U.S. Year and quarter Total

Imports of goods and services

Imports of goods

Imports of services

Total Total

Direct investment payments

Other private payments

U.S. government payments

Compensation of employees

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

-23 670 -23 453 -25 676 -26 970 -29 102

-22 432 -22 208 -24 352 -25 410 -27 319

-14 758 -14 537 -16 260 -17 048 -18 700

-7 674 -7 671 -8 092 -8 362 -8 619

-1 238 -1 245 -1 324 -1 560 -1 783

-1 238 -1 245 -1 324 -1 560 -1 783

-394 -432 -399 -459 -529

-511 -535 -586 -701 -802

-332 -278 -339 -401 -453

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

-32 708 -38 468 -41 476 -48 671 -53 998

-30 621 -35 987 -38 729 -45 293 -49 129

-21 510 -25 493 -26 866 -32 991 -35 807

-9 111 -10 494 -11 863 -12 302 -13 322

-2 088 -2 481 -2 747 -3 378 -4 869

-2 088 -2 481 -2 747 -3 378 -4 869

-657 -711 -821 -876 -848

-942 -1 221 -1 328 -1 800 -3 244

-489 -549 -598 -702 -777

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

-59 901 -66 414 -79 237 -98 997 -137 274

-54 386 -60 979 -72 665 -89 342 -125 190

-39 866 -45 579 -55 797 -70 499 -103 811

-14 520 -15 400 -16 868 -18 843 -21 379

-5 515 -5 435 -6 572 -9 655 -12 084

-5 515 -5 435 -6 572 -9 655 -12 084

-875 -1 164 -1 284 -1 610 -1 331

-3 617 -2 428 -2 604 -4 209 -6 491

-1 024 -1 844 -2 684 -3 836 -4 262

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

-132 745 -162 109 -193 764 -229 870 -281 657

-120 181 -148 798 -179 547 -208 191 -248 696

-98 185 -124 228 -151 907 -176 002 -212 007

-21 996 -24 570 -27 640 -32 189 -36 689

-12 564 -13 311 -14 217 -21 680 -32 961

-12 564 -13 311 -14 217 -21 680 -32 961

-2 234 -3 110 -2 834 -4 211 -6 357

-5 788 -5 681 -5 841 -8 795 -15 481

-4 542 -4 520 -5 542 -8 674 -11 122

... ... ... ... ...

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

-333 774 -364 196 -355 975 -377 488 -473 923

-291 241 -310 570 -299 391 -323 874 -400 166

-249 750 -265 067 -247 642 -268 901 -332 418

-41 491 -45 503 -51 749 -54 973 -67 748

-42 532 -53 626 -56 583 -53 614 -73 756

-42 532 -53 626 -56 583 -53 614 -73 756

-8 635 -6 898 -2 114 -4 120 -8 443

-21 214 -29 415 -35 187 -30 501 -44 158

-12 684 -17 313 -19 282 -18 993 -21 155

... ... ... ... ...

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

-483 769 -530 142 -594 443 -663 741 -721 607

-410 950 -448 572 -500 552 -545 715 -580 144

-338 088 -368 425 -409 765 -447 189 -477 665

-72 862 -80 147 -90 787 -98 526 -102 479

-72 819 -81 571 -93 891 -118 026 -141 463

-72 819 -78 893 -91 553 -116 179 -139 177

-6 945 -6 856 -7 676 -12 150 -7 045

-42 745 -47 412 -57 659 -72 314 -93 768

-23 129 -24 625 -26 218 -31 715 -38 364

... -2 678 -2 338 -1 847 -2 286

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

-759 290 -734 564 -765 626 -823 914 -951 122

-616 097 -609 479 -656 094 -713 174 -801 747

-498 438 -491 020 -536 528 -589 394 -668 690

-117 659 -118 459 -119 566 -123 780 -133 057

-143 192 -125 085 -109 532 -110 741 -149 375

-139 728 -121 059 -104 780 -105 609 -143 423

-3 450 2 265 -2 190 -7 943 -22 150

-95 508 -82 452 -63 509 -58 290 -77 081

-40 770 -40 872 -39 081 -39 376 -44 192

-3 464 -4 026 -4 752 -5 132 -5 952

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

-1 080 124 -1 159 478 -1 287 142 -1 356 058 -1 509 874

-890 771 -955 667 -1 042 947 -1 098 504 -1 229 837

-749 374 -803 113 -876 470 -917 103 -1 029 980

-141 397 -152 554 -166 477 -181 401 -199 857

-189 353 -203 811 -244 195 -257 554 -280 037

-183 090 -197 511 -237 529 -250 560 -272 082

-30 318 -33 093 -42 950 -38 418 -53 437

-97 149 -97 800 -112 878 -127 988 -138 120

-55 623 -66 618 -81 701 -84 154 -80 525

-6 263 -6 300 -6 666 -6 994 -7 955

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

-1 779 620 -1 632 987 -1 659 233 -1 780 907 -2 118 119

-1 449 756 -1 369 867 -1 398 457 -1 517 381 -1 769 031

-1 224 408 -1 145 900 -1 164 720 -1 260 717 -1 472 926

-225 348 -223 967 -233 737 -256 664 -296 105

-329 864 -263 120 -260 776 -263 526 -349 088

-322 345 -255 034 -252 396 -255 020 -340 255

-56 910 -12 783 -45 820 -71 447 -105 146

-180 918 -159 825 -129 934 -110 105 -145 370

-84 517 -82 426 -76 642 -73 468 -89 739

-7 519 -8 086 -8 380 -8 506 -8 833

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-427 456 -441 277 -454 135 -456 757

-348 187 -357 165 -370 575 -373 834

-293 664 -301 569 -312 780 -316 395

-54 523 -55 596 -57 795 -57 439

-79 269 -84 112 -83 560 -82 923

-77 390 -82 234 -81 720 -81 001

-15 972 -15 912 -13 333 -11 693

-41 012 -45 059 -47 045 -47 802

-20 406 -21 263 -21 342 -21 506

-1 879 -1 878 -1 840 -1 922

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-443 202 -417 729 -401 689 -370 373

-366 167 -348 432 -333 322 -321 948

-309 396 -290 214 -277 881 -268 409

-56 771 -58 218 -55 441 -53 539

-77 035 -69 297 -68 367 -48 425

-75 029 -67 291 -66 346 -46 370

-7 556 -4 089 -7 084 5 944

-46 000 -41 944 -39 266 -32 615

-21 473 -21 258 -19 996 -19 699

-2 006 -2 006 -2 021 -2 055

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-393 183 -417 356 -424 507 -424 184

-329 732 -348 409 -355 949 -364 367

-273 155 -291 124 -297 169 -303 272

-56 577 -57 285 -58 780 -61 095

-63 451 -68 947 -68 558 -59 817

-61 357 -66 817 -66 514 -57 707

-8 904 -13 085 -14 791 -9 039

-32 683 -34 318 -32 733 -30 200

-19 770 -19 414 -18 990 -18 468

-2 094 -2 130 -2 044 -2 110

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-437 867 -433 896 -445 003 -464 135

-373 077 -371 331 -378 761 -394 209

-311 028 -309 763 -313 476 -326 450

-62 049 -61 568 -65 285 -67 759

-64 790 -62 565 -66 242 -69 926

-62 644 -60 496 -64 118 -67 760

-16 508 -16 322 -18 432 -20 183

-28 059 -26 350 -27 260 -28 436

-18 077 -17 824 -18 426 -19 141

-2 146 -2 069 -2 124 -2 166

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-487 324 -522 684 -537 085 -571 026

-415 945 -437 141 -447 835 -468 108

-345 241 -364 059 -372 576 -391 050

-70 704 -73 082 -75 259 -77 058

-71 379 -85 543 -89 250 -102 918

-69 219 -83 331 -87 040 -100 666

-20 014 -27 973 -27 520 -29 640

-29 040 -33 355 -36 246 -46 729

-20 165 -22 003 -23 274 -24 297

-2 160 -2 212 -2 210 -2 252

1A

minus sign indicates imports of goods and services, or payments of incomes. . . . = Not available.

158

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-6. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Current account—Continued

Financial account

Unilateral current transfers, net 2

U.S.-owned assets abroad, net 2

U.S. government

U.S. official reserve assets, net

Year and quarter Total Grants

Pensions and other transfers

Private remittances and other transfers

Capital account transactions, net 2

Special drawing rights

Total Total

Gold

Reserve position in the IMF

Foreign currencies

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

-4 062 -4 127 -4 277 -4 392 -4 240

-3 367 -3 320 -3 453 -3 479 -3 227

-273 -373 -347 -339 -399

-423 -434 -477 -575 -614

... ... ... ... ...

-4 099 -5 538 -4 174 -7 270 -9 560

2 145 607 1 535 378 171

1 703 857 890 461 125

0 0 0 0 0

442 -135 626 29 266

0 -115 19 -112 -220

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

-4 583 -4 955 -5 294 -5 629 -5 735

-3 444 -3 802 -3 844 -4 256 -4 259

-463 -499 -571 -537 -537

-677 -655 -879 -836 -939

... ... ... ... ...

-5 716 -7 321 -9 757 -10 977 -11 585

1 225 570 53 -870 -1 179

1 665 571 1 170 1 173 -967

0 0 0 0 0

-94 537 -94 -870 -1 034

-346 -538 -1 023 -1 173 822

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

-6 156 -7 402 -8 544 -6 913 -9 249

-4 449 -5 589 -6 665 -4 748 -7 293

-611 -696 -770 -915 -939

-1 096 -1 117 -1 109 -1 250 -1 017

... ... ... ... ...

-8 470 -11 758 -13 787 -22 874 -34 745

3 348 3 066 706 158 -1 467

787 866 547 0 0

16 468 7 9 -172

389 1 350 153 -33 -1 265

2 156 382 -1 182 -30

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

-7 075 -5 686 -5 226 -5 788 -6 593

-5 101 -3 519 -2 990 -3 412 -4 015

-1 068 -1 250 -1 378 -1 532 -1 658

-906 -917 -859 -844 -920

... ... ... ... ...

-39 703 -51 269 -34 785 -61 130 -64 915

-849 -2 558 -375 732 6

0 0 -118 -65 -65

-66 -78 -121 1 249 3

-466 -2 212 -294 4 231 -189

-317 -268 158 -4 683 257

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

-8 349 -11 702 -16 544 -17 310 -20 335

-5 486 -5 145 -6 087 -6 469 -8 696

-1 818 -2 041 -2 251 -2 207 -2 159

-1 044 -4 516 -8 207 -8 635 -9 479

... ... 199 209 235

-85 815 -113 054 -127 882 -66 373 -40 376

-7 003 -4 082 -4 965 -1 196 -3 131

0 * 0 0 0

1 136 -730 -1 371 -66 -979

-1 667 -2 491 -2 552 -4 434 -995

-6 472 -861 -1 041 3 304 -1 156

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

-21 998 -24 132 -23 265 -25 274 -26 169

-11 268 -11 883 -10 309 -10 537 -10 860

-2 138 -2 372 -2 409 -2 709 -2 775

-8 593 -9 877 -10 548 -12 028 -12 534

315 301 365 493 336

-44 752 -111 723 -79 296 -106 573 -175 383

-3 858 312 9 149 -3 912 -25 293

0 0 0 0 0

-897 -246 -509 127 -535

908 1 501 2 070 1 025 471

-3 869 -942 7 588 -5 064 -25 229

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

-26 654 9 904 -35 100 -39 811 -40 265

-10 359 29 193 -16 319 -17 035 -14 978

-3 224 -3 775 -4 043 -4 104 -4 556

-13 070 -15 514 -14 738 -18 672 -20 731

-6 579 -4 479 -557 -1 299 -1 723

-81 234 -64 389 -74 410 -200 551 -178 937

-2 158 5 763 3 901 -1 379 5 346

0 0 0 0 0

-192 -176 2 316 -537 -441

731 -366 -2 691 -43 494

-2 697 6 307 4 276 -798 5 293

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

-38 177 -43 147 -45 205 -53 320 -50 554

-11 190 -15 401 -12 472 -13 270 -13 774

-3 451 -4 466 -4 191 -4 305 -4 406

-23 536 -23 280 -28 542 -35 745 -32 374

-927 -631 -1 014 -702 -4 888

-352 264 -413 409 -485 475 -353 829 -504 062

-9 742 6 668 -1 010 -6 783 8 747

0 0 0 0 0

-808 370 -350 -147 10

-2 466 -1 280 -3 575 -5 119 5 484

-6 468 7 578 2 915 -1 517 3 253

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

-58 781 -51 910 -64 046 -71 169 -80 930

-16 714 -11 517 -17 097 -21 834 -23 317

-4 705 -5 798 -5 125 -5 341 -6 264

-37 362 -34 595 -41 824 -43 994 -51 349

-929 -1 223 -1 363 -3 214 -1 648

-560 523 -382 616 -294 027 -328 397 -855 509

-290 -4 911 -3 681 1 523 2 805

0 0 0 0 0

-722 -630 -475 601 -398

2 308 -3 600 -2 632 1 494 3 826

-1 876 -681 -574 -572 -623

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-12 894 -13 402 -14 246 -18 240

-2 884 -3 173 -3 637 -7 020

-1 168 -1 179 -1 183 -1 177

-8 842 -9 050 -9 426 -10 043

-205 -218 -249 -257

-207 606 -107 301 -84 847 -160 771

-554 2 020 -346 -1 410

0 0 0 0

-180 -180 -182 -180

-237 2 328 1 300 -1 083

-137 -128 -1 464 -147

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-15 268 -15 992 -3 114 -17 530

-2 426 -2 479 -2 867 -3 745

-1 316 -1 291 -1 305 -1 886

-11 526 -12 222 1 058 -11 899

-295 -304 -320 -304

-216 194 -86 702 32 858 -112 577

190 -1 343 -3 559 -199

0 0 0 0

-189 -156 -145 -140

574 -1 015 -3 242 83

-195 -172 -172 -142

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-18 420 -14 873 -14 726 -16 027

-6 397 -3 287 -3 075 -4 338

-1 271 -1 279 -1 282 -1 292

-10 752 -10 307 -10 369 -10 397

-295 -306 -373 -389

-84 219 -139 716 884 -70 978

390 -1 843 -1 416 -812

0 0 0 0

-109 -107 -132 -127

652 -1 607 -1 136 -541

-153 -129 -148 -144

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-17 743 -17 251 -17 634 -18 543

-5 826 -5 855 -5 435 -4 718

-1 320 -1 335 -1 334 -1 352

-10 597 -10 061 -10 865 -12 473

-423 -1 596 -837 -358

-91 631 -142 267 -25 442 -69 057

83 -170 -611 2 221

0 0 0 0

897 -102 -97 -97

-644 86 -383 2 435

-170 -154 -131 -117

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-22 271 -20 515 -15 771 -22 374

-7 744 -4 961 -4 911 -5 701

-1 554 -1 556 -1 548 -1 607

-12 973 -13 998 -9 312 -15 066

-428 -372 -393 -455

-295 140 -133 886 -137 525 -288 957

557 1 122 429 697

0 0 0 0

-100 -90 -98 -110

815 1 345 676 990

-158 -133 -149 -183

2A minus sign indicates net unilateral transfers to foreigners, net capital or financial outflows, or increases in U.S. official assets.

. . . = Not available. * = Less than $500,000 (+/-).

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

159

Table 7-6. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Financial account—Continued U.S.-owned assets abroad, net 3—Continued U.S. government assets other than official reserve assets, net

U.S. private assets, net U.S. claims

Year and quarter Total

U.S. credits and other long-term assets

Repayments on U.S. credits and other long-term assets

U.S. foreign currency holdings and short-term assets

Total

Direct investment

Foreign securities

On unaffiliated foreigners reported by U.S. nonbanking concerns

Reported by U.S. banks, not included elsewhere

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

-1 100 -910 -1 085 -1 662 -1 680

-1 214 -1 928 -2 128 -2 204 -2 382

642 1 279 1 288 988 720

-528 -261 -245 -447 -19

-5 144 -5 235 -4 623 -5 986 -8 050

-2 940 -2 653 -2 851 -3 483 -3 760

-663 -762 -969 -1 105 -677

-394 -558 -354 157 -1 108

-1 148 -1 261 -450 -1 556 -2 505

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

-1 605 -1 543 -2 423 -2 274 -2 200

-2 463 -2 513 -3 638 -3 722 -3 489

874 1 235 1 005 1 386 1 200

-16 -265 209 62 89

-5 336 -6 347 -7 386 -7 833 -8 206

-5 011 -5 418 -4 805 -5 295 -5 960

-759 -720 -1 308 -1 569 -1 549

341 -442 -779 -1 203 -126

93 233 -495 233 -570

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

-1 589 -1 884 -1 568 -2 644 366

-3 293 -4 181 -3 819 -4 638 -5 001

1 721 2 115 2 086 2 596 4 826

-16 182 165 -602 541

-10 229 -12 940 -12 925 -20 388 -33 643

-7 590 -7 618 -7 747 -11 353 -9 052

-1 076 -1 113 -618 -671 -1 854

-596 -1 229 -1 054 -2 383 -3 221

-967 -2 980 -3 506 -5 980 -19 516

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

-3 474 -4 214 -3 693 -4 660 -3 746

-5 941 -6 943 -6 445 -7 470 -7 697

2 475 2 596 2 719 2 941 3 926

-9 133 33 -131 25

-35 380 -44 498 -30 717 -57 202 -61 176

-14 244 -11 949 -11 890 -16 056 -25 222

-6 247 -8 885 -5 460 -3 626 -4 726

-1 357 -2 296 -1 940 -3 853 -5 014

-13 532 -21 368 -11 427 -33 667 -26 213

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

-5 162 -5 097 -6 131 -5 006 -5 489

-9 860 -9 674 -10 063 -9 967 -9 599

4 456 4 413 4 292 5 012 4 490

242 164 -360 -51 -379

-73 651 -103 875 -116 786 -60 172 -31 757

-19 222 -9 624 -4 556 -12 528 -16 407

-3 568 -5 699 -7 983 -6 762 -4 756

-4 023 -4 377 6 823 -10 954 533

-46 838 -84 175 -111 070 -29 928 -11 127

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

-2 821 -2 022 1 006 2 967 1 233

-7 657 -9 084 -6 506 -7 680 -5 608

4 719 6 089 7 625 10 370 6 725

117 973 -113 277 115

-38 074 -110 014 -89 450 -105 628 -151 323

-18 927 -23 995 -35 034 -22 528 -43 447

-7 481 -4 271 -5 251 -7 980 -22 070

-10 342 -21 773 -7 046 -21 193 -27 646

-1 323 -59 975 -42 119 -53 927 -58 160

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

2 317 2 923 -1 667 -351 -390

-8 410 -12 880 -7 408 -6 311 -5 383

10 856 16 777 5 807 6 270 5 088

-130 -974 -67 -310 -95

-81 393 -73 075 -76 644 -198 823 -183 893

-37 183 -37 889 -48 266 -83 951 -80 167

-28 765 -45 673 -49 166 -146 253 -63 190

-27 824 11 097 -387 766 -36 336

12 379 -610 21 175 30 615 -4 200

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

-984 -989 68 -422 2 750

-4 859 -5 025 -5 417 -4 678 -6 175

4 125 3 930 5 438 4 111 9 559

-250 106 47 145 -634

-341 538 -419 088 -484 533 -346 624 -515 559

-98 750 -91 885 -104 803 -142 644 -224 934

-122 394 -149 315 -116 852 -130 204 -122 236

-45 286 -86 333 -121 760 -38 204 -97 704

-75 108 -91 555 -141 118 -35 572 -70 685

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

-941 -486 345 537 1 215

-5 182 -4 431 -5 251 -7 279 -3 044

4 265 3 873 5 701 7 981 4 221

-24 72 -105 -165 38

-559 292 -377 219 -290 691 -330 457 -859 529

-159 212 -142 349 -154 460 -140 579 -252 012

-127 908 -90 644 -48 568 -156 064 -102 383

-138 790 -8 520 -49 403 -24 240 -149 001

-133 382 -135 706 -38 260 -9 574 -356 133

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-127 -570 114 -358

-1 750 -1 371 -1 051 -1 010

1 329 860 1 266 810

294 -59 -101 -158

-206 925 -108 751 -84 615 -159 003

-34 934 -52 029 -39 618 -32 633

-32 542 -38 171 -32 363 -24 832

-79 800 -25 287 -14 121 -19 582

-59 649 6 736 1 487 -81 956

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

77 -783 77 143

-1 094 -1 330 -1 011 -996

1 071 573 1 118 1 111

100 -26 -30 28

-216 461 -84 576 36 340 -112 521

-35 381 -26 783 -44 327 -35 857

-25 355 -50 200 11 639 -26 728

-46 769 -7 507 1 824 43 932

-108 956 -86 67 204 -93 868

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

133 42 -27 197

-853 -565 -1 375 -2 458

994 566 1 452 2 689

-8 41 -104 -34

-84 742 -137 915 2 327 -70 363

-48 155 -36 163 -33 165 -36 979

-9 012 -20 735 4 884 -23 705

-27 176 -13 684 -7 451 -1 092

-399 -67 333 38 059 -8 587

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

53 310 483 -309

-2 428 -1 591 -1 532 -1 728

2 445 1 975 2 035 1 526

36 -74 -20 -107

-91 767 -142 407 -25 314 -70 969

-15 593 -43 104 -40 858 -41 024

-42 099 -17 474 -47 918 -48 573

-1 952 -16 383 21 818 -27 723

-32 123 -65 446 41 644 46 351

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

727 -2 -11 501

-561 -668 -1 270 -545

1 374 544 1 299 1 004

-86 122 -40 42

-296 424 -135 006 -137 943 -290 155

-52 367 -58 425 -41 222 -99 997

-15 532 -30 181 -38 444 -18 226

-55 452 -5 390 -13 490 -74 669

-173 073 -41 010 -44 787 -97 263

3A

minus sign indicates financial outflows.

160

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-6. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Financial account—Continued Foreign-owned assets in the United States, net 4 Foreign official assets in the United States, net

Other foreign assets in the United States, net

U.S. government securities Year and quarter Total Total Total

U.S. Treasury securities

Other

U.S. liabilities Other U.S. reported by governU.S. ment banks, not liabilities included elsewhere

Other foreign official assets

Total

Direct investment

U.S. Treasury securities

U.S. securities other than Treasury securities

U.S. currency

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

2 294 2 705 1 911 3 217 3 643

1 473 765 1 270 1 986 1 660

655 233 1 409 816 432

655 233 1 410 803 434

... ... -1 12 -2

215 25 152 429 298

603 508 -291 742 930

... ... ... ... ...

821 1 939 641 1 231 1 983

315 311 346 231 322

-364 151 -66 -149 -146

282 324 134 287 -85

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

742 3 661 7 379 9 928 12 702

134 -672 3 451 -774 -1 301

-141 -1 527 2 261 -769 -2 343

-134 -1 548 2 222 -798 -2 269

-7 21 39 29 -74

65 113 83 -15 251

210 742 1 106 10 792

... ... ... ... ...

607 4 333 3 928 10 703 14 002

415 425 698 807 1 263

-131 -356 -135 136 -68

-358 906 1 016 4 414 3 130

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

6 359 22 970 21 461 18 388 35 341

6 908 26 879 10 475 6 026 10 546

9 439 26 570 8 470 641 4 172

9 411 26 578 8 213 59 3 270

28 -8 257 582 902

-456 -510 182 936 301

-2 075 819 1 638 4 126 5 818

... ... 185 323 254

-550 -3 909 10 986 12 362 24 796

1 464 367 949 2 800 4 760

81 -24 -39 -216 697

2 189 2 289 4 507 4 041 378

... ... ... ... 1 100

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

17 170 38 018 53 219 67 036 40 852

7 027 17 693 36 816 33 678 -13 665

5 563 9 892 32 538 24 221 -21 972

4 658 9 319 30 230 23 555 -22 435

905 573 2 308 666 463

1 517 4 627 1 400 2 476 -40

-2 158 969 773 5 551 7 213

2 104 2 205 2 105 1 430 1 135

10 143 20 326 16 403 33 358 54 516

2 603 4 347 3 728 7 897 11 877

2 590 2 783 534 2 178 4 060

2 503 1 284 2 437 2 254 1 351

1 500 1 500 1 900 3 000 3 000

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

62 612 86 232 96 589 88 694 117 752

15 497 4 960 3 593 5 845 3 140

11 895 6 322 5 085 6 496 4 703

9 708 5 019 5 779 6 972 4 690

2 187 1 303 -694 -476 13

615 -338 605 602 739

-159 -3 670 -1 747 545 555

3 145 2 646 -350 -1 798 -2 857

47 115 81 272 92 997 82 849 114 612

16 918 25 195 12 635 10 372 24 468

2 645 2 927 7 027 8 689 23 001

5 457 6 905 6 085 8 164 12 568

4 500 3 200 4 000 5 400 4 100

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

146 115 230 009 248 634 246 522 224 928

-1 119 35 648 45 387 39 758 8 503

-1 139 33 150 44 802 43 050 1 532

-838 34 364 43 238 41 741 149

-301 -1 214 1 564 1 309 1 383

844 2 195 -2 326 -467 160

645 1 187 3 918 -319 4 976

-1 469 -884 -1 007 -2 506 1 835

147 233 194 360 203 247 206 764 216 425

19 742 35 420 58 470 57 735 68 274

20 433 3 809 -7 643 20 239 29 618

50 962 70 969 42 120 26 353 38 767

5 200 4 100 5 400 5 800 5 900

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

141 571 110 809 170 663 282 041 305 989

33 910 17 388 40 476 71 753 39 583

30 243 16 147 22 403 53 014 36 827

29 576 14 846 18 454 48 952 30 750

667 1 301 3 949 4 062 6 077

1 868 1 367 2 190 1 313 1 564

3 385 -1 484 16 571 14 841 3 665

-1 586 1 359 -688 2 585 -2 473

107 661 93 421 130 185 210 288 266 406

48 494 23 171 19 822 51 363 46 121

-2 534 18 826 37 131 24 381 34 274

1 592 35 144 30 043 80 092 56 971

18 800 15 400 13 400 18 900 23 400

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

438 562 551 096 706 809 423 569 740 210

109 880 126 724 19 036 -19 903 43 543

72 712 120 679 -2 161 -3 589 32 527

68 977 115 671 -6 690 -9 921 12 177

3 735 5 008 4 529 6 332 20 350

-105 -982 -881 -3 326 -2 863

34 008 5 704 22 286 -9 501 12 964

3 265 1 323 -208 -3 487 915

328 682 424 372 687 773 443 472 696 667

57 776 86 502 105 603 179 045 289 444

91 544 147 022 130 435 28 581 -44 497

77 249 103 272 161 409 156 315 298 834

12 300 17 362 24 782 16 622 22 407

2000 2001 2002 2003 2004

................................. 1 046 896 ................................. 782 859 ................................. 794 343 ................................. 889 043 ................................. 1 440 105

42 758 28 059 115 945 278 275 394 710

35 710 54 620 90 971 224 874 311 133

-5 199 33 700 60 466 184 931 272 648

40 909 20 920 30 505 39 943 38 485

-1 825 -2 309 137 -517 488

5 746 -29 978 21 221 48 643 70 329

3 127 5 726 3 616 5 275 12 760

1 004 138 754 800 678 398 610 768 1 045 395

321 274 167 021 80 841 67 091 106 832

-69 983 -14 378 100 403 104 380 106 958

459 889 393 885 283 299 226 306 369 793

5 315 23 783 21 513 16 640 14 827

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

248 698 247 559 246 185 304 456

22 542 6 952 11 354 1 910

24 311 6 738 3 673 988

16 204 -3 596 -10 599 -7 208

8 107 10 334 14 272 8 196

-430 -899 -185 -311

-2 270 209 7 554 253

931 904 312 980

226 156 240 607 234 831 302 546

52 094 91 669 79 979 97 534

-15 199 -22 883 -13 413 -18 488

129 306 88 189 122 138 120 256

-2 661 989 757 6 230

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

332 155 207 866 22 936 219 902

21 333 -19 965 15 653 11 038

19 590 -9 634 14 545 30 119

16 016 -19 566 14 761 22 489

3 574 9 932 -216 7 630

-601 -1 154 -205 -349

1 341 -10 205 -675 -20 439

1 003 1 028 1 988 1 707

310 822 227 831 7 283 208 864

59 145 59 338 13 783 34 755

-17 659 -11 916 -7 998 23 195

129 474 108 537 60 748 95 126

2 311 2 772 8 203 10 497

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

176 523 230 205 161 608 226 004

12 801 53 312 18 328 31 504

10 337 25 942 20 609 34 083

4 420 19 374 9 124 27 548

5 917 6 568 11 485 6 535

-597 365 464 -95

2 335 26 099 -3 590 -3 623

726 906 845 1 139

163 722 176 893 143 280 194 500

28 455 6 343 11 326 34 714

10 327 18 830 54 060 17 186

73 750 99 689 43 282 66 578

4 525 7 183 2 556 7 249

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

240 593 240 143 140 909 267 397

50 622 66 889 64 595 96 169

41 461 47 550 41 393 94 470

30 277 42 668 33 935 78 051

11 184 4 882 7 458 16 419

-407 -5 -118 13

8 315 18 593 21 981 -246

1 253 751 1 339 1 932

189 971 173 254 76 314 171 228

32 327 824 5 825 28 114

7 162 58 023 39 439 -244

51 997 87 725 14 298 72 286

4 927 1 458 2 768 7 487

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

423 023 304 937 254 228 457 915

147 401 77 039 75 792 94 478

124 010 63 456 66 899 56 768

112 586 62 977 55 357 41 728

11 424 479 11 542 15 040

-109 45 710 -158

22 058 11 350 4 867 32 054

1 442 2 188 3 316 5 814

275 622 227 898 178 436 363 437

8 503 31 039 35 666 31 622

31 931 60 424 -1 107 15 710

45 476 81 678 84 401 158 238

-1 800 8 754 2 560 5 313

4A

minus sign indicates financial outflows or decrease in foreign official assets in the United States. . . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

161

Table 7-6. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Financial account—Continued Foreign-owned assets in the United States, net 4—Cont.

Balance on:

Statistical discrepancy 5

Other foreign assets in the United States, net—Cont. Year and quarter

U.S. liabilities To unaffiliated foreigners reported by U.S. nonbanking concerns

Reported by U.S. banks not included elsewhere

Total

Seasonal adjustment discrepancy

Goods

Services

Goods and services

Income

Goods, services, and income

Unilateral current transfers

Current account

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

-90 226 -110 -37 75

678 928 336 898 1 818

-1 019 -989 -1 124 -360 -907

0 0 0 0 0

4 892 5 571 4 521 5 224 6 801

-1 385 -1 376 -1 151 -1 014 -779

3 508 4 195 3 370 4 210 6 022

3 379 3 755 4 294 4 596 5 041

6 887 7 950 7 664 8 806 11 063

-4 062 -4 127 -4 277 -4 392 -4 240

2 824 3 822 3 387 4 414 6 823

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

178 476 584 1 475 792

503 2 882 1 765 3 871 8 886

-457 629 -205 438 -1 516

0 0 0 0 0

4 951 3 817 3 800 635 607

-287 -877 -1 196 -385 -516

4 664 2 940 2 604 250 91

5 350 5 047 5 274 5 990 6 044

10 014 7 987 7 878 6 240 6 135

-4 583 -4 955 -5 294 -5 629 -5 735

5 431 3 031 2 583 611 399

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 014 369 815 1 035 1 844

-6 298 -6 911 4 754 4 702 16 017

-219 -9 779 -1 879 -2 654 -2 558

0 0 0 0 0

2 603 -2 260 -6 416 911 -5 505

-349 957 973 989 1 213

2 254 -1 303 -5 443 1 900 -4 292

6 233 7 272 8 192 12 153 15 503

8 487 5 969 2 749 14 053 11 211

-6 156 -7 402 -8 544 -6 913 -9 249

2 331 -1 433 -5 795 7 140 1 962

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

319 -578 1 086 1 889 1 621

628 10 990 6 719 16 141 32 607

4 417 8 955 -4 099 9 236 24 349

0 0 0 0 0

8 903 -9 483 -31 091 -33 927 -27 568

3 501 3 401 3 845 4 164 3 003

12 404 -6 082 -27 246 -29 763 -24 565

12 787 16 063 18 137 20 408 30 873

25 191 9 981 -9 109 -9 355 6 308

-7 075 -5 686 -5 226 -5 788 -6 593

18 116 4 295 -14 335 -15 143 -285

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

6 852 917 -2 383 -118 16 626

10 743 42 128 65 633 50 342 33 849

20 886 21 792 36 630 16 162 16 733

0 0 0 0 0

-25 500 -28 023 -36 485 -67 102 -112 492

6 093 11 852 12 329 9 335 3 419

-19 407 -16 172 -24 156 -57 767 -109 073

30 073 32 903 35 164 36 386 35 063

10 666 16 731 11 008 -21 381 -74 010

-8 349 -11 702 -16 544 -17 310 -20 335

2 317 5 030 -5 536 -38 691 -94 344

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

9 851 3 325 18 363 32 893 22 086

41 045 76 737 86 537 63 744 51 780

16 478 28 590 -9 048 -19 289 49 605

0 0 0 0 0

-122 173 -145 081 -159 557 -126 959 -117 749

294 6 543 7 874 12 393 24 607

-121 880 -138 538 -151 684 -114 566 -93 142

25 723 15 494 14 293 18 687 19 824

-96 157 -123 044 -137 391 -95 879 -73 318

-21 998 -24 132 -23 265 -25 274 -26 169

-118 155 -147 177 -160 655 -121 153 -99 486

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

45 133 -3 115 13 573 10 489 1 302

-3 824 3 994 16 216 25 063 104 338

25 211 -44 840 -45 617 4 617 -3 717

0 0 0 0 0

-111 037 -76 937 -96 897 -132 451 -165 831

30 173 45 802 57 685 62 141 67 338

-80 864 -31 136 -39 212 -70 311 -98 493

28 550 24 131 24 235 25 316 17 146

-52 314 -7 005 -14 977 -44 995 -81 347

-26 654 9 904 -35 100 -39 811 -40 265

-78 968 2 897 -50 078 -84 805 -121 612

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

59 637 53 736 116 518 23 140 76 247

30 176 16 478 149 026 39 769 54 232

28 299 -12 162 -79 414 145 026 68 800

0 0 0 0 0

-174 170 -191 000 -198 104 -246 687 -346 015

77 786 86 935 89 794 81 678 82 621

-96 384 -104 065 -108 310 -165 009 -263 394

20 891 22 318 12 609 4 265 13 888

-75 493 -81 747 -95 701 -160 744 -249 506

-38 177 -43 147 -45 205 -53 320 -50 554

-113 670 -124 894 -140 906 -214 064 -300 060

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

170 672 66 110 95 932 99 676 124 358

116 971 118 379 96 410 96 675 322 627

-69 445 -9 564 -23 742 -37 753 85 126

0 0 0 0 0

-452 414 -427 188 -482 298 -547 296 -665 390

74 142 64 459 61 117 52 482 47 807

-378 272 -362 729 -421 181 -494 814 -617 583

21 054 25 183 10 016 46 304 30 439

-357 218 -337 546 -411 165 -448 510 -587 144

-58 781 -51 910 -64 046 -71 169 -80 930

-415 999 -389 456 -475 211 -519 679 -668 074

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

72 433 28 796 16 914 52 529

-9 817 53 847 28 456 44 485

57 553 -40 843 -53 247 -32 902

7 224 -1 200 -10 251 4 233

-108 411 -110 342 -113 969 -119 692

18 831 19 914 17 111 18 280

-89 580 -90 428 -96 858 -101 412

4 034 4 633 3 262 9 126

-85 546 -85 795 -93 596 -92 286

-12 894 -13 402 -14 246 -18 240

-98 440 -99 197 -107 842 -110 526

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

112 097 -173 -23 171 -22 643

25 454 69 273 -44 282 67 934

-8 072 -22 455 37 387 -16 426

6 708 -2 635 -9 621 5 546

-115 420 -105 184 -105 233 -101 351

18 167 16 227 15 957 14 106

-97 253 -88 957 -89 276 -87 245

4 927 6 544 -471 14 180

-92 326 -82 413 -89 747 -73 065

-15 268 -15 992 -3 114 -17 530

-107 594 -98 405 -92 861 -90 595

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

56 228 17 565 9 941 12 198

-9 563 27 283 22 115 56 575

18 082 29 103 -42 040 -28 889

9 566 -1 523 -14 124 6 079

-107 984 -118 993 -122 928 -132 393

14 807 15 536 15 358 15 416

-93 177 -103 457 -107 570 -116 977

1 506 -956 2 217 7 256

-91 671 -104 413 -105 353 -109 721

-18 420 -14 873 -14 726 -16 027

-110 091 -119 286 -120 079 -125 748

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

72 474 13 379 8 875 4 948

21 084 11 845 5 109 58 637

-11 879 32 514 14 351 -72 739

9 623 -4 407 -13 009 7 793

-137 861 -135 067 -135 290 -139 078

13 028 12 217 12 591 14 651

-124 833 -122 850 -122 699 -124 427

5 916 11 307 11 352 17 727

-118 917 -111 543 -111 347 -106 700

-17 743 -17 251 -17 634 -18 543

-136 660 -128 794 -128 981 -125 243

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

44 623 3 887 14 752 61 096

146 889 42 116 42 164 91 458

18 646 -4 044 50 672 19 856

11 010 -3 747 -12 977 5 718

-151 452 -163 987 -167 775 -182 176

12 600 11 945 10 310 12 955

-138 852 -152 042 -157 465 -169 221

15 022 5 922 6 254 3 236

-123 830 -146 120 -151 211 -165 985

-22 271 -20 515 -15 771 -22 374

-146 101 -166 635 -166 982 -188 359

4A minus sign indicates financial outflows or decrease 5Sum of credits and debits with the sign reversed.

in foreign official assets in the United States.

162

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-7. Foreigners’ Transactions in Long-Term Securities with U.S. Residents (Billions of dollars, not seasonally adjusted.) Transactions in U.S. domestic securities between foreigners and U.S. residents Net purchases Year and month

Gross purchases from U.S. residents

Private Gross sales to U.S. residents

Total

Treasury bonds and notes

Total

1977 ...................................................... 1978 ...................................................... 1979 ......................................................

Government agency bonds

Corporate bonds

Equities

60.7 60.5 72.9

30.1 51.1 67.2

30.6 9.4 5.7

... 3.6 2.5

... 1.0 1.2

... 0.6 0.1

... 0.3 0.2

... 1.7 1.1

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

106.9 126.5 159.5 223.4 335.5

91.1 100.5 136.8 211.7 304.0

15.8 25.9 22.7 11.7 31.4

6.6 10.2 9.2 13.2 33.8

1.0 3.3 2.8 4.6 21.0

0.4 0.3 0.3 0.5 1.2

0.9 1.9 2.5 1.7 12.5

4.3 4.8 3.6 6.4 -0.9

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

667.2 1 355.4 1 692.1 1 827.9 2 431.7

588.9 1 266.9 1 623.0 1 753.1 2 335.2

78.3 88.6 69.1 74.8 96.5

71.9 76.4 37.5 49.4 66.5

21.1 5.2 -5.5 22.2 27.4

4.6 8.2 3.5 5.4 13.7

41.4 45.1 22.7 21.3 17.5

4.8 18.0 16.8 0.4 7.9

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

2 111.2 2 382.1 2 677.8 3 212.5 3 351.1

2 092.4 2 324.0 2 604.6 3 101.4 3 210.7

18.7 58.1 73.2 111.1 140.4

-3.6 54.3 63.1 103.2 94.9

-5.3 18.7 32.4 22.2 37.0

5.6 8.9 14.3 31.4 15.6

9.8 16.5 20.0 29.9 38.0

-13.7 10.1 -3.7 19.6 4.3

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

3 737.6 4 667.6 6 573.3 7 633.5 7 483.5

3 505.7 4 297.4 6 185.3 7 355.7 7 133.3

231.9 370.2 388.0 277.8 350.2

185.3 278.1 339.7 270.8 338.8

94.5 146.4 140.2 44.9 -0.1

25.0 36.7 45.3 50.5 71.9

57.6 82.2 82.8 121.7 158.8

8.2 12.7 71.3 53.7 108.2

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

8 684.1 10 261.8 13 022.9 13 526.0 15 178.9

8 226.3 9 740.9 12 475.4 12 806.1 14 262.5

457.8 520.8 547.6 719.9 916.4

420.1 494.2 508.3 585.0 680.8

-47.7 15.0 112.8 159.7 150.9

111.9 146.6 166.6 129.9 205.6

182.1 218.2 176.7 260.3 298.0

173.8 114.4 52.2 35.0 26.2

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

909.6 815.7 900.7 833.4 910.8 809.7

867.5 760.1 842.1 803.3 850.1 770.8

42.1 55.7 58.6 30.1 60.8 38.9

37.3 54.6 56.7 33.2 58.0 42.6

-10.9 6.5 4.6 -4.7 2.2 -0.2

11.2 9.2 18.4 9.8 5.5 17.6

13.1 29.3 26.4 21.7 33.1 14.8

23.9 9.4 7.3 6.5 17.2 10.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

766.4 831.7 737.7 935.7 1 017.3 792.8

739.1 794.5 732.4 871.9 961.0 748.4

27.4 37.3 5.3 63.9 56.4 44.4

28.9 37.3 -0.1 58.6 46.3 40.8

-10.8 4.5 -3.7 13.5 6.1 7.8

13.5 13.4 5.7 25.2 10.7 6.4

15.0 12.5 9.8 12.9 16.4 13.2

11.2 6.9 -11.8 7.1 13.1 13.4

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

978.1 891.8 1 097.6 1 061.1 1 160.7 1 030.6

961.9 866.8 1 025.3 1 019.9 1 105.4 979.2

16.3 25.0 72.3 41.2 55.2 51.4

21.6 26.3 62.7 41.1 53.5 45.3

-8.6 11.0 14.1 -7.2 10.6 12.2

6.7 5.1 15.8 23.4 16.5 8.4

15.0 7.2 25.2 16.8 26.5 20.7

8.4 2.9 7.5 8.1 -0.2 4.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 272.5 1 166.8 1 090.0 1 169.9 1 185.3 918.6

1 222.7 1 125.9 1 049.8 1 128.3 1 117.2 872.9

49.7 40.9 40.1 41.7 68.1 45.6

51.5 35.4 40.4 40.0 54.6 35.8

29.6 3.7 25.4 6.0 8.7 7.2

8.5 13.2 17.7 21.2 17.7 12.3

3.8 13.8 3.7 9.2 21.6 13.1

9.6 4.7 -6.3 3.6 6.5 3.2

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

949.9 932.5 1 196.3 939.0 1 252.3 1 305.4

903.8 915.6 1 125.0 885.9 1 150.8 1 227.5

46.1 16.9 71.3 53.1 101.5 77.8

38.7 7.5 70.0 52.2 87.3 60.5

-0.6 -7.5 27.0 9.8 28.4 23.6

19.2 4.5 13.8 15.9 25.0 7.0

22.9 12.6 26.4 22.1 27.2 20.8

-2.9 -2.1 2.8 4.5 6.7 9.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 287.9 1 266.8 1 152.4 1 238.4 986.3 1 018.8

1 208.4 1 213.1 1 131.7 1 197.3 904.2 942.9

79.5 53.7 20.6 41.2 82.1 76.0

67.4 56.8 7.6 14.3 60.5 62.3

39.1 21.2 -3.9 -13.1 16.6 19.2

12.2 7.9 -2.2 8.5 7.4 10.6

25.6 16.1 19.8 20.0 27.6 19.3

-9.5 11.6 -6.1 -1.1 8.9 13.1

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 137.8 1 157.7 1 393.5 1 375.5 1 312.2 1 233.6

1 043.6 1 089.3 1 326.1 1 279.6 1 249.4 1 143.3

94.2 68.4 67.3 95.9 62.9 90.3

64.1 45.9 29.4 69.8 56.1 74.5

19.2 8.3 17.6 27.7 20.8 29.0

22.4 16.1 -3.4 24.3 21.0 14.7

10.7 19.6 25.2 18.4 20.0 26.6

11.8 1.9 -10.1 -0.6 -5.7 4.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 202.9 1 207.1 1 250.7 1 193.8 1 405.7 1 308.5

1 135.0 1 153.8 1 183.5 1 130.0 1 304.2 1 224.6

67.8 53.3 67.2 63.8 101.5 83.8

58.4 34.0 52.6 48.9 73.5 73.6

6.7 -2.1 6.2 3.6 12.7 1.4

16.8 14.9 6.0 22.9 24.3 25.6

27.7 23.7 43.8 18.9 24.3 39.3

7.3 -2.4 -3.3 3.6 12.2 7.3

. . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

163

Table 7-7. Foreigners’ Transactions in Long-Term Securities with U.S. Residents—Continued (Billions of dollars, not seasonally adjusted.) Transactions in U.S. domestic securities between foreigners and U.S. residents—Continued

Transactions in foreign securities between foreigners and U.S. residents Net purchases 1

Net purchases—Continued Year and month

Official

Gross sales to U.S. residents

Government agency bonds

... 5.8 3.2

... 3.7 1.7

... 0.7 0.5

... 0.7 0.4

... 0.7 0.6

10.3 14.8 17.3

15.8 18.5 22.1

-5.5 -3.7 -4.8

-5.1 -4.2 -4.0

-0.4 0.5 -0.8

25.1 5.7 0.9

Corporate bonds

Equities

Total

Bonds

Net long-term flows

Treasury bonds and notes

Total

1977 ...................................................... 1978 ...................................................... 1979 ......................................................

Gross purchases from U.S. residents

Equities

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

9.2 15.7 13.5 -1.5 -2.3

3.9 11.7 14.5 0.8 0.5

2.2 1.3 -0.7 -0.5 0.0

2.0 1.6 -0.7 -0.8 -0.8

1.1 1.0 0.3 -1.0 -2.1

25.0 26.9 34.3 49.6 70.8

28.1 32.6 42.3 56.6 75.9

-3.1 -5.7 -8.0 -7.0 -5.0

-1.0 -5.5 -6.6 -3.2 -3.9

-2.1 -0.2 -1.3 -3.8 -1.1

12.6 20.2 14.7 4.7 26.4

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

6.4 12.1 31.6 25.4 30.1

8.1 14.2 31.1 26.6 26.8

-0.3 -1.2 1.6 1.3 1.4

-1.6 -1.6 -0.4 -0.1 -0.2

0.1 0.7 -0.6 -2.4 2.0

102.1 216.1 294.5 293.9 344.6

110.0 221.7 301.4 303.3 363.2

-7.9 -5.5 -6.9 -9.4 -18.6

-4.0 -3.7 -8.0 -7.4 -5.5

-3.9 -1.9 1.1 -2.0 -13.1

70.3 83.0 62.3 65.4 78.0

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

22.4 3.9 10.1 7.9 45.4

23.3 1.2 6.9 1.3 41.8

0.7 1.3 3.9 4.0 6.1

-0.1 0.4 0.8 0.6 0.0

-1.4 1.0 -1.5 2.0 -2.5

437.7 450.9 663.6 991.4 1 234.5

468.9 497.7 711.5 1 134.5 1 291.8

-31.2 -46.8 -47.9 -143.1 -57.3

-21.9 -14.8 -15.6 -80.4 -9.2

-9.2 -32.0 -32.3 -62.7 -48.1

-12.4 11.3 25.4 -31.9 83.1

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

46.6 92.1 48.3 7.0 11.4

39.6 85.8 44.0 4.1 -9.9

3.7 5.0 4.5 6.3 20.4

0.2 1.5 1.5 0.2 1.5

3.0 -0.2 -1.7 -3.7 -0.6

1 235.1 1 564.4 2 207.7 2 257.8 1 975.6

1 333.8 1 675.0 2 296.8 2 269.0 1 965.6

-98.7 -110.6 -89.1 -11.1 10.0

-48.4 -51.4 -48.1 -17.3 -5.7

-50.3 -59.3 -40.9 6.2 15.6

133.2 259.6 298.9 266.7 360.1

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

37.7 26.7 39.3 134.9 235.6

-6.3 3.5 7.1 103.8 201.1

40.9 17.4 28.6 25.9 20.8

2.0 3.8 5.6 5.4 11.5

1.1 2.0 -2.0 -0.3 2.2

2 761.1 2 557.8 2 640.0 2 761.8 3 123.1

2 778.3 2 577.4 2 613.0 2 818.4 3 276.0

-17.1 -19.6 27.0 -56.5 -152.8

-4.1 30.5 28.5 32.0 -67.9

-13.1 -50.1 -1.5 -88.6 -85.0

440.7 501.2 574.6 663.3 763.6

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

4.8 1.1 1.8 -3.1 2.8 -3.6

2.2 0.7 0.2 -9.1 0.9 -3.2

2.1 0.3 1.2 5.7 1.5 -0.7

0.6 0.2 0.3 0.1 0.3 0.2

-0.1 0.0 0.1 0.2 0.1 0.2

263.8 232.2 248.5 214.4 236.9 221.7

268.6 234.4 259.6 213.3 242.3 227.2

-4.8 -2.2 -11.0 1.0 -5.5 -5.5

-1.9 1.2 -1.3 5.5 2.3 1.0

-2.8 -3.4 -9.7 -4.4 -7.7 -6.5

37.4 53.5 47.5 31.2 55.3 33.4

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

-1.6 0.0 5.5 5.2 10.1 3.6

-0.7 0.3 2.5 2.2 6.3 1.1

-1.1 -1.3 2.2 2.1 3.3 2.2

-0.1 0.3 0.4 0.7 0.4 0.5

0.3 0.8 0.3 0.2 0.1 -0.1

205.9 185.1 186.7 200.4 204.2 158.0

206.6 176.7 174.0 204.2 202.5 167.9

-0.7 8.4 12.7 -3.9 1.7 -9.9

5.6 10.5 10.3 -0.8 -1.1 -0.9

-6.3 -2.1 2.3 -3.1 2.8 -9.0

26.7 45.7 18.0 60.0 58.1 34.5

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

-5.3 -1.3 9.6 0.1 1.8 6.1

-6.7 -2.2 5.2 -1.6 -0.1 2.2

1.0 1.2 3.7 1.1 1.9 3.7

0.2 0.5 1.3 1.0 0.1 0.2

0.2 -0.8 -0.7 -0.4 -0.2 0.0

198.2 185.8 226.6 215.2 239.0 230.9

199.8 186.2 213.6 217.9 239.5 230.2

-1.6 -0.4 13.0 -2.8 -0.5 0.7

-5.5 2.3 7.3 0.4 7.3 5.6

3.9 -2.7 5.7 -3.1 -7.8 -4.9

14.7 24.6 85.3 38.4 54.7 52.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

-1.8 5.4 -0.3 1.7 13.5 9.8

-5.3 0.6 -3.7 0.1 12.3 6.3

3.3 4.2 3.4 1.0 0.6 3.5

0.1 0.7 0.2 0.6 0.6 0.1

0.1 -0.1 -0.2 0.0 0.0 0.0

260.2 204.9 213.2 222.5 238.1 205.5

239.2 203.6 211.3 221.8 236.9 213.1

21.1 1.3 1.8 0.7 1.3 -7.6

7.7 -1.7 1.1 6.9 2.2 -5.0

13.4 3.1 0.8 -6.2 -1.0 -2.6

70.8 42.2 42.0 42.4 69.4 38.0

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

7.4 9.4 1.3 0.9 14.2 17.3

2.4 4.3 -0.1 -1.1 13.4 15.9

4.5 4.8 0.9 2.1 0.7 1.0

0.5 0.2 0.5 0.0 0.2 0.3

0.0 0.0 0.0 0.0 -0.1 0.1

213.2 187.4 231.6 201.3 227.4 246.8

214.7 179.6 236.7 195.6 235.9 258.7

-1.5 7.8 -5.1 5.7 -8.5 -11.9

5.3 11.9 -0.2 3.4 3.3 -5.7

-6.8 -4.1 -4.9 2.3 -11.8 -6.2

44.6 24.7 66.2 58.9 93.0 65.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

12.1 -3.0 13.0 26.9 21.7 13.7

11.6 -4.5 10.7 23.6 19.0 8.7

0.0 0.8 2.0 2.8 1.9 4.4

0.5 0.5 0.4 0.7 1.0 0.7

0.0 0.2 -0.1 -0.2 -0.1 -0.1

259.2 201.4 260.7 277.4 227.1 228.4

256.3 213.1 261.6 299.6 237.6 229.2

2.9 -11.6 -0.9 -22.2 -10.5 -0.8

11.5 2.8 11.9 -10.5 -7.5 5.9

-8.5 -14.5 -12.8 -11.6 -2.9 -6.7

82.4 42.1 19.7 19.0 71.7 75.1

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

30.2 22.5 38.0 26.2 6.8 15.8

26.8 17.9 33.6 22.7 7.9 16.3

3.6 4.2 2.8 1.8 -1.8 -0.9

0.5 0.2 1.3 0.6 0.5 0.8

-0.7 0.2 0.3 1.1 0.2 -0.5

271.9 270.2 329.5 260.7 252.6 250.1

285.7 284.1 326.7 264.5 260.4 259.4

-13.7 -13.9 2.8 -3.8 -7.8 -9.3

-3.5 -8.2 0.8 6.0 -1.3 -1.1

-10.2 -5.7 1.9 -9.9 -6.5 -8.3

80.5 54.4 70.1 92.1 55.1 81.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

9.4 19.3 14.5 14.9 28.0 10.3

5.9 15.5 10.9 15.6 21.0 7.0

2.5 2.6 2.4 -0.9 3.5 1.0

0.8 1.1 1.2 0.9 1.9 1.6

0.1 0.1 0.0 -0.7 1.5 0.6

234.7 233.7 228.2 254.9 274.2 262.5

253.5 242.1 258.1 270.7 286.0 284.9

-18.9 -8.4 -29.9 -15.8 -11.8 -22.4

-9.8 -7.6 -25.4 -5.6 -4.0 -8.3

-9.1 -0.8 -4.5 -10.2 -7.8 -14.1

48.9 45.0 37.3 48.0 89.7 61.5

1(-)

indicates net U.S. acquisitions of foreign securities. . . . = Not available.

164

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-8. International Investment Position of the United States at Year-End (Millions of dollars.) U.S. net international investment position Year

U.S.-owned assets abroad

Direct investment at current cost

Direct investment at market value

Total, direct investment at current cost

Total, direct investment at market value

Direct investment Other U.S. government Current cost Market value assets

Official reserve assets

Foreign bonds

Foreign corporate stocks

U.S. nonbank claims

U.S. bank claims

1976 1977 1978 1979

........................ ........................ ........................ ........................

164 832 171 440 206 423 316 926

... ... ... ...

456 964 512 278 621 227 786 701

... ... ... ...

44 094 53 376 69 450 143 260

44 978 48 567 53 187 58 851

222 283 246 078 285 005 336 301

... ... ... ...

34 704 39 329 42 148 41 966

9 453 10 110 11 236 14 803

20 317 22 256 29 385 34 491

81 135 92 562 130 816 157 029

1980 1981 1982 1983 1984

........................ ........................ ........................ ........................ ........................

360 838 339 767 328 954 298 304 160 695

... ... 235 947 257 393 134 088

929 806 1 001 667 1 108 436 1 210 974 1 204 900

... ... 961 015 1 129 673 1 127 132

171 412 124 568 143 445 123 110 105 040

65 573 70 893 76 903 81 664 86 945

388 072 407 804 374 059 355 643 348 342

... ... 226 638 274 342 270 574

43 524 45 675 56 604 58 569 62 810

18 930 16 467 17 442 26 154 25 994

38 429 42 752 35 405 131 329 130 138

203 866 293 508 404 578 434 505 445 631

1985 1986 1987 1988 1989

........................ ........................ ........................ ........................ ........................

54 343 -36 209 -80 007 -178 470 -259 506

96 886 100 782 50 529 10 466 -46 987

1 287 396 1 469 396 1 646 527 1 829 665 2 070 868

1 302 712 1 594 652 1 758 711 2 008 365 2 350 235

117 930 139 875 162 370 144 179 168 714

89 792 91 850 90 681 87 892 86 643

371 036 404 818 478 062 513 761 553 093

386 352 530 074 590 246 692 461 832 460

75 020 85 724 93 889 104 187 116 949

44 383 72 399 94 700 128 662 197 345

141 872 167 392 177 368 197 757 234 307

447 363 507 338 549 457 653 227 713 817

1990 1991 1992 1993 1994

........................ ........................ ........................ ........................ ........................

-245 347 -309 259 -431 198 -306 956 -323 397

-164 495 -260 819 -452 305 -144 268 -135 251

2 178 978 2 286 456 2 331 696 2 753 648 2 987 118

2 294 085 2 470 629 2 466 496 3 091 421 3 315 135

174 664 159 223 147 435 164 945 163 394

84 344 81 422 83 022 83 382 83 908

616 655 643 364 663 830 723 526 786 565

731 762 827 537 798 630 1 061 299 1 114 582

144 717 176 774 200 817 309 666 310 391

197 596 278 976 314 266 543 862 626 762

265 315 256 295 254 303 242 022 322 980

695 687 690 402 668 023 686 245 693 118

1995 1996 1997 1998 1999

........................ ........................ ........................ ........................ ........................

-458 462 -495 055 -820 682 -895 358 -766 237

-305 836 -360 024 -822 732 -1 070 769 -1 037 437

3 486 272 4 032 307 4 567 906 5 095 546 5 974 394

3 964 558 4 650 837 5 379 128 6 179 126 7 399 678

176 061 160 739 134 836 146 006 136 418

85 064 86 123 86 198 86 768 84 227

885 506 989 810 1 068 063 1 196 021 1 414 355

1 363 792 1 608 340 1 879 285 2 279 601 2 839 639

413 310 481 411 543 396 594 400 548 233

790 615 1 006 135 1 207 787 1 474 983 2 003 716

367 567 450 578 545 524 588 322 704 517

768 149 857 511 982 102 1 009 046 1 082 928

2000 2001 2002 2003 2004

........................ ........................ ........................ ........................ ........................

-1 381 196 -1 919 430 -2 107 267 -2 156 703 -2 484 219

-1 581 007 -2 339 448 -2 455 114 -2 372 370 -2 542 245

6 238 785 6 308 681 6 645 679 7 640 986 9 052 796

7 401 192 6 930 484 6 807 849 8 296 638 9 972 783

128 400 129 961 158 602 183 577 189 591

85 168 85 654 85 309 84 772 83 556

1 531 607 1 693 131 1 860 418 2 062 551 2 367 386

2 694 014 2 314 934 2 022 588 2 718 203 3 287 373

572 692 557 062 705 226 874 356 916 655

1 852 842 1 612 673 1 374 665 2 079 422 2 520 063

836 559 839 303 902 002 596 961 801 536

1 231 517 1 390 897 1 559 457 1 759 347 2 174 009

Foreign-owned assets in the United States Year

Total, direct Total, direct Foreign investment at investment at official assets current cost market value

Direct investment in the United States

U.S. Treasury U.S. currency securities

Current cost

Market value

Corporate and other bonds

Corporate stocks

U.S. nonbank liabilities

U.S. bank liabilities

1976 1977 1978 1979

........................ ........................ ........................ ........................

292 132 340 838 414 804 469 775

... ... ... ...

104 445 140 867 173 057 159 852

47 528 55 413 68 976 88 579

... ... ... ...

7 028 7 562 8 910 14 210

11 792 13 656 16 569 19 552

11 964 11 456 11 457 10 269

42 949 39 779 42 097 48 318

12 961 11 921 16 019 18 669

53 465 60 184 77 719 110 326

1980 1981 1982 1983 1984

........................ ........................ ........................ ........................ ........................

568 968 661 900 779 482 912 670 1 044 205

... ... 725 068 872 280 993 044

176 062 180 425 189 109 194 468 199 678

127 105 164 623 184 842 193 708 223 538

... ... 130 428 153 318 172 377

16 113 18 505 25 758 33 846 62 121

24 079 27 295 31 265 36 776 40 797

9 545 10 694 16 709 17 454 32 421

64 569 64 391 76 279 96 357 96 056

30 426 30 606 27 532 61 731 77 415

121 069 165 361 227 988 278 330 312 179

1985 1986 1987 1988 1989

........................ ........................ ........................ ........................ ........................

1 233 053 1 505 605 1 726 534 2 008 135 2 330 374

1 205 826 1 493 870 1 708 182 1 997 899 2 397 222

202 482 241 226 283 058 322 036 341 746

247 223 284 701 334 552 401 766 467 886

219 996 272 966 316 200 391 530 534 734

87 954 96 078 82 588 100 877 166 541

46 036 50 122 55 584 61 261 67 118

82 290 140 863 166 089 191 314 231 673

125 578 168 940 175 643 200 978 251 191

86 993 90 703 110 187 144 548 167 093

354 497 432 972 518 833 585 355 637 126

1990 1991 1992 1993 1994

........................ ........................ ........................ ........................ ........................

2 424 325 2 595 715 2 762 894 3 060 604 3 310 515

2 458 580 2 731 448 2 918 801 3 235 689 3 450 386

373 293 398 538 437 263 509 422 535 227

505 346 533 404 540 270 593 313 617 982

539 601 669 137 696 177 768 398 757 853

152 452 170 295 197 739 221 501 235 684

85 933 101 317 114 804 133 734 157 185

238 903 274 136 299 287 355 822 368 077

221 741 271 872 300 160 340 627 371 618

213 406 208 908 220 666 229 038 239 817

633 251 637 245 652 705 677 147 784 925

1995 1996 1997 1998 1999

........................ ........................ ........................ ........................ ........................

3 944 734 4 527 362 5 388 588 5 990 904 6 740 631

4 270 394 5 010 861 6 201 860 7 249 895 8 437 115

682 873 820 823 873 716 896 174 951 088

680 066 745 619 824 136 920 044 1 101 709

1 005 726 1 229 118 1 637 408 2 179 035 2 798 193

326 995 433 903 538 137 543 323 440 685

169 484 186 846 211 628 228 250 250 657

459 080 539 308 618 837 724 619 825 175

510 769 625 805 893 888 1 178 824 1 526 116

300 424 346 810 459 407 485 675 578 046

815 043 828 248 968 839 1 013 995 1 067 155

2000 2001 2002 2003 2004

........................ ........................ ........................ ........................ ........................

7 619 981 8 228 111 8 752 946 9 797 689 11 537 015

8 982 199 9 269 932 9 262 963 10 669 008 12 515 028

1 030 708 1 109 072 1 250 977 1 567 124 1 981 992

1 421 017 1 518 473 1 517 403 1 585 898 1 708 877

2 783 235 2 560 294 2 027 420 2 457 217 2 686 890

381 630 375 059 473 503 543 209 639 716

255 972 279 755 301 268 317 908 332 735

1 068 566 1 343 071 1 530 982 1 707 206 2 059 250

1 554 448 1 478 301 1 248 085 1 700 907 1 928 547

738 904 798 314 892 574 454 317 581 258

1 168 736 1 326 066 1 538 154 1 921 120 2 304 640

. . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

Section 7c: Exports and Imports

Figure 7-3. Foreign Trade Balances on Goods and Services, 1960–2004

Billions of dollars

200

0

-200

-400

Goods and services Goods Services

-600

-800 1960

1965

1970

1975

1980

1985

1990

1995

2000

2004

Year

• On an ITA basis, U.S. imports of goods and services exceeded exports by over $600 billion in 2004 for yet another new record. Both exports and imports increased, but exports by more than imports—not only absolutely (in dollars), but also in terms of percentage rise. (Table 7-9) • The trade deficit in goods likewise set a new record. Little of it was offset by the surplus in services trade, which shrank from $90 billion in 1997 to $48 billion in 2004. (Table 7-9) • Canada and Mexico are the principal trading partners of the United States, with relations governed by the North American Free Trade Agreement (NAFTA). In 2004, goods exports to and imports from these two countries were about double those figures for the Euro area. U.S. goods imports from those two countries came close to the sum of imports from Japan, China, and the newly industrialized countries (NICS) of Asia, while exports to the NAFTA countries were nearly double the total to Japan, China, and the Asian NICS. (Tables 7-13 and 7-14) • For U.S. services trade, “other private services” is the largest single category among both exports and imports. This includes such activities as education, financial services, and many other types of business and professional services. The United States had a surplus of $50 billion on “other private services” in 2004, about the same as that in the preceding three years. This category more than accounted for the total ITA surplus in services in 2004. (Tables 7-15 and 7-16)

165

166

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-9. U.S. Exports and Imports of Goods and Services (Balance of payments basis; millions of dollars, seasonally adjusted.) Goods and services

Goods

Services

Year and month Exports

Imports

Balance

Exports

Imports

Balance

Exports

Imports

Balance

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

25 940 26 403 27 722 29 620 33 341

22 432 22 208 24 352 25 410 27 319

3 508 4 195 3 370 4 210 6 022

19 650 20 108 20 781 22 272 25 501

14 758 14 537 16 260 17 048 18 700

4 892 5 571 4 521 5 224 6 801

6 290 6 295 6 941 7 348 7 840

7 674 7 671 8 092 8 362 8 619

-1 384 -1 376 -1 151 -1 014 -779

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

35 285 38 926 41 333 45 543 49 220

30 621 35 987 38 729 45 293 49 129

4 664 2 939 2 604 250 91

26 461 29 310 30 666 33 626 36 414

21 510 25 493 26 866 32 991 35 807

4 951 3 817 3 800 635 607

8 824 9 616 10 667 11 917 12 806

9 111 10 494 11 863 12 302 13 322

-287 -878 -1 196 -385 -516

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

56 640 59 677 67 222 91 242 120 897

54 386 60 979 72 665 89 342 125 190

2 254 -1 302 -5 443 1 900 -4 293

42 469 43 319 49 381 71 410 98 306

39 866 45 579 55 797 70 499 103 811

2 603 -2 260 -6 416 911 -5 505

14 171 16 358 17 841 19 832 22 591

14 520 15 400 16 868 18 843 21 379

-349 958 973 989 1 212

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

132 585 142 716 152 301 178 428 224 131

120 181 148 798 179 547 208 191 248 696

12 404 -6 082 -27 246 -29 763 -24 565

107 088 114 745 120 816 142 075 184 439

98 185 124 228 151 907 176 002 212 007

8 903 -9 483 -31 091 -33 927 -27 568

25 497 27 971 31 485 36 353 39 692

21 996 24 570 27 640 32 189 36 689

3 501 3 401 3 845 4 164 3 003

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

271 834 294 398 275 236 266 106 291 094

291 241 310 570 299 391 323 874 400 166

-19 407 -16 172 -24 156 -57 767 -109 072

224 250 237 044 211 157 201 799 219 926

249 750 265 067 247 642 268 901 332 418

-25 500 -28 023 -36 485 -67 102 -112 492

47 584 57 354 64 079 64 307 71 168

41 491 45 503 51 749 54 973 67 748

6 093 11 851 12 329 9 335 3 420

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

289 070 310 033 348 869 431 149 487 003

410 950 448 572 500 552 545 715 580 144

-121 880 -138 538 -151 684 -114 566 -93 141

215 915 223 344 250 208 320 230 359 916

338 088 368 425 409 765 447 189 477 665

-122 173 -145 081 -159 557 -126 959 -117 749

73 155 86 689 98 661 110 919 127 087

72 862 80 147 90 787 98 526 102 479

294 6 543 7 874 12 393 24 607

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

535 233 578 344 616 883 642 863 703 254

616 097 609 479 656 094 713 173 801 747

-80 864 -31 135 -39 212 -70 310 -98 493

387 401 414 083 439 631 456 943 502 859

498 438 491 020 536 528 589 394 668 690

-111 037 -76 937 -96 897 -132 451 -165 831

147 832 164 261 177 252 185 920 200 395

117 659 118 459 119 566 123 779 133 057

30 173 45 802 57 685 62 141 67 338

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

794 387 851 602 934 637 933 495 966 443

890 771 955 667 1 042 947 1 098 504 1 229 837

-96 384 -104 065 -108 310 -165 009 -263 394

575 204 612 113 678 366 670 416 683 965

749 374 803 113 876 470 917 103 1 029 980

-174 170 -191 000 -198 104 -246 687 -346 015

219 183 239 489 256 271 263 079 282 478

141 397 152 554 166 477 181 401 199 857

77 786 86 935 89 794 81 678 82 621

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 071 484 1 007 138 977 276 1 022 567 1 151 448

1 449 756 1 369 867 1 398 457 1 517 381 1 769 031

-378 272 -362 729 -421 180 -494 814 -617 583

771 994 718 712 682 422 713 421 807 536

1 224 408 1 145 900 1 164 720 1 260 717 1 472 926

-452 414 -427 188 -482 297 -547 296 -665 390

299 490 288 426 294 854 309 146 343 912

225 348 223 967 233 737 256 664 296 105

74 142 64 459 61 117 52 482 47 807

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

78 533 78 616 79 405 81 120 81 401 82 430

108 426 110 981 110 325 115 021 115 629 117 759

-29 893 -32 365 -30 920 -33 901 -34 228 -35 329

55 208 54 945 55 018 57 141 57 018 57 971

89 675 91 761 91 719 96 286 96 694 98 143

-34 467 -36 816 -36 701 -39 145 -39 676 -40 172

23 325 23 671 24 387 23 979 24 383 24 459

18 751 19 220 18 606 18 735 18 935 19 616

4 574 4 451 5 781 5 244 5 448 4 843

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

82 704 83 057 82 620 82 324 83 452 81 613

117 066 119 424 119 461 117 166 122 671 124 531

-34 362 -36 367 -36 842 -34 843 -39 219 -42 917

58 210 58 172 57 860 57 079 57 917 55 883

97 480 100 015 99 674 97 180 102 404 103 688

-39 270 -41 843 -41 815 -40 102 -44 487 -47 804

24 494 24 885 24 760 25 245 25 535 25 730

19 586 19 409 19 787 19 986 20 267 20 843

4 908 5 476 4 973 5 259 5 268 4 887

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

82 443 82 940 82 860 81 377 82 397 84 708

123 662 123 014 126 403 123 554 123 189 124 590

-41 218 -40 073 -43 543 -42 176 -40 792 -39 882

57 306 57 792 58 068 57 402 57 630 59 664

102 946 102 469 105 614 103 282 102 778 103 704

-45 639 -44 676 -47 546 -45 879 -45 148 -44 040

25 137 25 148 24 792 23 975 24 767 25 044

20 716 20 545 20 789 20 272 20 411 20 886

4 421 4 603 4 003 3 703 4 356 4 158

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

85 579 84 277 86 206 88 445 90 763 90 574

126 508 124 402 127 851 129 571 130 322 134 316

-40 929 -40 125 -41 645 -41 126 -39 559 -43 742

59 957 58 283 59 946 61 166 63 443 62 764

104 845 102 654 105 977 107 248 107 908 111 294

-44 888 -44 371 -46 031 -46 082 -44 465 -48 530

25 622 25 994 26 260 27 279 27 320 27 810

21 663 21 748 21 874 22 323 22 414 23 022

3 959 4 246 4 386 4 956 4 906 4 788

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

89 530 92 389 95 173 94 451 96 399 94 250

135 584 138 223 142 139 142 857 145 141 149 143

-46 053 -45 834 -46 966 -48 406 -48 742 -54 894

62 183 64 799 66 807 66 115 68 177 65 781

112 122 114 656 118 463 118 932 120 757 124 370

-49 938 -49 857 -51 656 -52 817 -52 580 -58 590

27 347 27 590 28 366 28 336 28 222 28 469

23 462 23 567 23 676 23 925 24 384 24 773

3 885 4 023 4 690 4 411 3 838 3 696

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

96 191 96 510 97 668 98 524 98 640 101 721

147 523 150 705 149 607 154 098 157 618 156 393

-51 331 -54 195 -51 939 -55 574 -58 977 -54 672

67 752 68 058 68 990 69 260 68 611 71 001

122 798 125 161 124 617 128 692 131 843 130 515

-55 045 -57 103 -55 627 -59 432 -63 231 -59 514

28 439 28 452 28 678 29 264 30 029 30 720

24 725 25 544 24 990 25 406 25 775 25 878

3 714 2 908 3 688 3 858 4 254 4 842

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

167

Table 7-10. U.S. Exports of Goods by End-Use and Advanced Technology Categories (Census basis, except as noted; billions of dollars; seasonally adjusted, except as noted.) Total exports of goods

Principal end-use category Industrial supplies and materials

Total: Balance of payments basis

Net adjustments

1978 ...................................................... 1979 ......................................................

142.08 184.44

-1.59 2.64

143.66 181.80

25.68 30.50

39.59 58.50

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

224.25 237.04 211.16 201.80 219.93

3.55 3.31 -1.12 0.09 1.18

220.70 233.74 212.28 201.71 218.74

36.28 38.84 32.20 32.09 32.20

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

215.92 223.34 250.21 320.23 359.92

3.29 -3.13 -3.70 -3.11 -3.08

212.62 226.47 253.90 323.34 363.00

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

387.40 414.08 439.63 456.94 502.86

-5.57 -7.77 -8.54 -7.92 -9.77

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

575.20 612.11 678.37 670.42 683.97

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

Consumer goods (nonfood), Other goods except automotive

Advanced technology products 1

Capital goods, except automotive

Automotive vehicles, engines, and parts

1.95 2.44

47.50 60.18

15.16 17.90

11.38 13.98

... ...

... ...

72.09 70.19 64.05 58.94 64.12

3.57 4.56 6.87 5.59 5.43

76.28 84.17 76.50 71.66 77.01

17.44 19.69 17.23 18.46 22.42

17.75 17.70 16.13 14.93 15.09

... ... ... ... ...

... ... ... ... ...

24.57 23.52 25.23 33.77 36.34

61.16 64.72 70.05 90.02 98.36

5.71 4.43 4.63 4.48 6.46

79.32 82.82 92.71 119.10 136.94

24.95 25.10 27.58 33.40 35.05

14.59 16.73 20.31 26.98 36.01

... ... ... ... ...

... ... ... ... ...

392.97 421.85 448.17 464.86 512.63

35.18 35.79 40.34 40.59 41.96

105.55 109.69 109.59 111.89 121.55

8.36 8.40 7.62 7.49 6.97

153.07 166.72 176.50 182.85 205.82

36.07 39.72 46.71 51.35 57.31

43.60 46.65 51.31 54.56 59.86

20.73 23.66 24.39 23.89 26.50

... ... ... ... ...

-9.54 -12.96 -10.82 -11.72 -11.83

584.74 625.08 689.18 682.14 695.80

50.47 55.53 51.51 46.40 45.98

146.37 147.98 158.32 148.31 147.52

8.10 9.63 10.42 8.08 8.62

234.46 253.99 295.87 299.87 310.79

61.26 64.24 73.30 72.39 75.26

64.31 70.11 77.96 80.29 80.92

28.72 33.85 33.51 35.44 35.32

... ... ... ... ...

771.99 718.71 682.42 713.42 807.54

-9.92 -10.39 -10.68 -11.35 -11.24

781.92 729.10 693.10 724.77 818.78

47.87 49.41 49.62 55.03 56.57

172.62 160.10 156.81 173.04 203.96

12.01 10.64 10.34 12.69 17.08

356.93 321.71 290.44 293.62 331.48

80.36 75.44 78.94 80.69 89.29

89.38 88.33 84.36 89.91 103.08

34.77 34.11 32.94 32.49 34.40

227.39 199.63 178.57 180.21 201.42

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

65.02 65.37 63.58 62.11 62.72 60.20

-0.85 -0.75 -0.77 -0.69 -1.05 -0.91

65.87 66.11 64.35 62.81 63.77 61.10

3.96 4.12 4.34 4.27 4.11 4.04

14.27 14.46 14.22 13.95 13.93 13.45

0.94 0.89 0.88 0.93 0.95 0.92

30.94 30.99 29.12 27.92 28.39 26.64

6.14 6.04 6.20 6.26 6.35 6.59

7.64 7.81 7.72 7.70 7.96 7.23

2.91 2.71 2.74 2.71 3.04 3.16

18.29 18.06 20.63 16.54 17.25 17.72

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

58.27 58.88 55.50 56.05 55.83 55.19

-1.03 -0.77 -0.87 -0.94 -0.88 -0.88

59.30 59.65 56.38 56.99 56.71 56.07

4.04 4.23 4.06 4.11 4.11 4.02

12.93 13.20 12.32 12.60 12.39 12.38

0.85 0.98 0.79 0.78 0.78 0.95

25.89 25.56 24.07 24.17 24.16 23.87

6.20 6.54 6.38 6.29 6.42 6.02

7.28 7.11 6.89 7.00 6.88 7.13

2.96 3.00 2.66 2.82 2.75 2.66

14.87 15.75 14.80 15.68 14.92 15.11

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

55.21 54.95 55.02 57.14 57.02 57.97

-0.73 -0.77 -0.91 -0.82 -1.16 -0.80

55.94 55.72 55.93 57.96 58.18 58.77

4.19 4.16 3.89 3.97 4.04 4.30

12.36 12.25 12.27 12.98 13.23 13.34

0.76 0.78 0.75 0.80 0.80 0.81

23.85 23.46 23.97 24.48 24.21 24.69

6.13 6.28 6.34 6.71 6.72 6.83

6.91 6.98 6.77 7.07 7.00 7.01

2.50 2.58 2.69 2.77 2.99 2.60

13.61 12.96 17.10 14.40 14.76 16.41

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

58.21 58.17 57.86 57.08 57.92 55.88

-0.92 -1.00 -0.78 -0.99 -0.90 -0.91

59.13 59.17 58.64 58.07 58.82 56.79

4.36 4.23 4.09 3.84 4.22 4.35

13.21 13.45 13.38 13.15 13.64 13.56

0.85 0.93 0.87 0.91 0.98 1.10

24.77 24.74 24.79 24.37 24.46 22.65

6.73 6.79 6.64 6.65 6.55 6.56

7.26 7.10 7.02 7.18 7.16 6.91

2.80 2.87 2.73 2.87 2.79 2.77

14.86 15.13 14.84 15.73 14.62 14.15

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

57.31 57.79 58.07 57.40 57.63 59.66

-0.75 -0.85 -0.97 -1.18 -0.84 -1.02

58.05 58.64 59.04 58.58 58.47 60.68

4.42 4.34 4.32 4.37 4.38 4.63

14.12 14.04 14.47 14.16 14.04 14.63

1.16 1.19 1.24 1.06 1.05 1.09

23.04 24.02 23.48 23.28 23.30 24.28

6.62 6.61 6.73 6.73 6.91 6.81

7.39 7.07 7.30 7.13 7.26 7.60

2.47 2.57 2.74 2.92 2.58 2.74

13.06 13.53 15.98 13.95 13.97 15.42

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

59.96 58.28 59.95 61.17 63.44 62.76

-1.03 -1.00 -1.09 -0.77 -1.09 -0.79

60.99 59.28 61.03 61.93 64.54 63.55

4.74 4.59 4.65 4.77 4.97 4.86

14.80 14.10 14.20 14.58 14.73 15.18

1.00 0.92 1.02 0.95 0.96 1.05

24.45 24.16 24.96 25.55 27.09 26.03

6.65 6.19 6.73 6.92 6.79 7.00

7.57 7.48 7.67 7.59 8.03 7.82

2.78 2.76 2.82 2.51 2.94 2.66

14.75 14.47 15.23 16.29 16.93 16.63

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

62.18 64.80 66.81 66.12 68.18 65.78

-0.95 -0.94 -1.03 -0.94 -0.93 -1.04

63.14 65.74 67.83 67.06 69.10 66.82

4.63 4.70 4.80 4.74 4.83 4.62

15.30 15.91 16.67 16.44 17.19 16.51

1.00 1.16 1.31 1.28 1.51 1.41

25.92 27.16 27.59 27.16 28.33 26.81

6.77 6.99 7.24 7.26 7.33 7.22

7.80 8.17 8.58 8.51 8.54 8.47

2.71 2.82 2.95 2.94 2.89 3.19

14.74 15.96 18.93 16.34 17.03 17.47

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

67.75 68.06 68.99 69.26 68.61 71.00

-0.77 -0.84 -1.05 -0.95 -0.92 -0.88

68.52 68.90 70.04 70.21 69.53 71.88

4.56 4.49 4.84 4.76 4.78 4.82

17.42 17.05 17.44 17.91 17.78 18.35

1.43 1.57 1.46 1.63 1.62 1.70

27.99 28.10 28.08 28.14 27.58 28.60

7.53 7.78 7.76 7.75 7.65 8.02

8.40 8.72 8.84 8.85 8.87 9.33

2.61 2.76 3.09 2.80 2.87 2.76

15.94 16.00 17.21 17.67 16.24 17.90

Year and month

1Not seasonally adjusted.

. . . = Not available.

Total: Census basis

Foods, feeds, and beverages

Total

Petroleum and products

168

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-11. U.S. Imports of Goods by End-Use and Advanced Technology Categories (Census basis, except as noted; billions of dollars; seasonally adjusted, except as noted.) Total imports of goods

Principal end-use category Industrial supplies and materials

Total: Balance of payments basis

Net adjustments

1978 ...................................................... 1979 ......................................................

176.00 212.01

1.31 2.60

174.69 209.41

15.84 18.01

79.26 102.67

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

249.75 265.07 247.64 268.90 332.42

4.23 3.76 3.70 7.18 1.91

245.52 261.31 243.94 261.72 330.51

18.55 18.53 17.47 18.56 21.92

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

338.09 368.43 409.77 447.19 477.37

1.71 2.75 3.48 5.26 3.72

336.38 365.67 406.28 441.93 473.65

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

498.34 490.98 536.46 589.44 668.59

2.36 2.53 3.80 8.78 5.33

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

749.57 803.33 876.37 917.18 1 029.99

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

Consumer goods (nonfood), Other goods except automotive

Advanced technology products 1

Capital goods, except automotive

Automotive vehicles, engines, and parts

... ...

19.29 24.49

25.11 26.51

29.40 31.22

... ...

... ...

124.96 131.10 107.82 105.63 122.72

... ... ... ... ...

30.72 36.86 38.22 42.61 60.15

28.13 30.80 34.26 42.04 56.77

34.22 38.30 39.66 46.59 61.19

... ... ... ... ...

... ... ... ... ...

21.89 24.40 24.81 24.93 25.08

112.48 101.37 110.67 118.06 132.40

... ... ... ... ...

60.81 71.86 84.77 101.79 112.45

65.21 78.25 85.17 87.95 87.38

66.43 79.43 88.82 96.42 102.26

... ... ... ... ...

... ... ... ... ...

495.98 488.45 532.66 580.66 663.26

26.65 26.21 27.61 27.87 27.87

143.41 131.38 138.64 145.61 145.61

62.16 51.78 51.60 51.50 51.28

116.04 120.80 134.25 152.37 152.37

87.69 84.94 91.79 102.42 102.42

105.29 107.78 122.66 134.02 134.02

16.09 15.94 17.71 18.39 18.39

... ... ... ... ...

6.03 8.04 6.66 5.28 5.37

743.54 796.77 869.70 911.90 1 024.62

33.18 35.74 39.69 41.24 43.60

181.85 204.43 213.77 200.14 221.39

56.16 72.75 71.77 50.90 67.81

221.43 228.07 253.28 269.56 295.72

123.80 128.95 139.81 149.05 178.96

159.91 172.00 193.81 216.52 241.91

23.39 26.11 29.34 35.39 43.04

... ... ... ... ...

1 224.42 1 145.90 1 164.72 1 260.72 1 472.93

6.40 4.90 3.35 3.60 3.22

1 218.02 1 141.00 1 161.37 1 257.12 1 469.70

45.98 46.64 49.69 55.83 62.14

298.98 273.87 267.69 313.82 412.83

120.28 103.59 103.51 133.10 180.46

347.03 297.99 283.32 295.83 343.45

195.88 189.78 203.74 210.17 228.24

281.83 284.29 307.84 333.88 372.94

48.33 48.42 49.08 47.59 50.11

222.08 195.18 195.15 207.03 238.28

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

106.05 100.91 102.43 98.76 95.91 95.55

0.58 0.56 0.58 0.59 0.76 0.57

105.47 100.35 101.85 98.16 95.15 94.98

3.90 3.80 3.74 3.75 3.77 3.92

27.99 25.89 25.32 24.15 23.37 22.79

11.32 10.46 9.53 9.41 8.87 8.87

28.83 27.82 28.20 25.86 24.59 24.52

16.00 15.61 15.68 15.93 15.70 15.96

24.62 23.16 25.10 24.31 23.53 23.76

4.14 4.08 3.82 4.17 4.19 4.02

17.67 16.12 18.61 16.13 15.26 16.65

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

93.89 92.81 91.18 91.53 90.18 86.69

0.21 0.24 0.22 0.21 0.21 0.17

93.68 92.57 90.96 91.32 89.98 86.53

4.01 3.94 4.05 4.03 3.97 3.77

21.92 21.64 21.36 20.67 19.95 18.84

8.06 8.10 8.13 7.47 6.92 6.45

23.87 23.54 22.58 22.98 22.76 22.45

15.99 16.25 15.67 15.72 15.90 15.38

23.85 23.26 23.43 23.89 23.33 22.05

4.04 3.93 3.88 4.04 4.07 4.04

16.49 15.42 14.77 17.02 16.16 14.89

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

89.68 91.76 91.72 96.29 96.69 98.14

0.23 0.22 0.27 0.31 0.30 0.30

89.44 91.54 91.45 95.97 96.40 97.85

3.88 3.97 3.95 4.02 4.10 4.14

19.55 19.47 19.72 22.52 22.37 21.91

6.92 6.39 7.04 8.98 8.77 8.26

22.84 23.13 23.41 23.73 23.68 23.96

15.72 16.44 16.22 16.94 16.79 17.13

23.45 24.54 23.85 24.75 25.36 26.35

4.01 3.99 4.30 4.01 4.09 4.36

14.78 14.50 16.20 15.53 15.63 16.37

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

97.48 100.02 99.67 97.18 102.40 103.69

0.28 0.29 0.31 0.32 0.29 0.23

97.20 99.72 99.36 96.86 102.12 103.46

4.23 4.26 4.20 4.10 4.38 4.47

22.17 23.10 23.15 24.10 24.42 25.22

8.60 9.11 9.02 10.09 10.07 10.26

23.85 23.73 23.76 22.39 24.37 24.47

16.87 17.71 17.65 17.09 17.56 17.62

26.03 26.90 26.47 25.17 27.42 27.57

4.05 4.03 4.13 4.02 3.98 4.11

16.96 16.55 16.83 17.39 17.60 16.80

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

102.95 102.47 105.61 103.28 102.78 103.70

0.23 0.22 0.25 0.26 0.35 0.48

102.71 102.25 105.36 103.02 102.42 103.22

4.53 4.40 4.59 4.63 4.63 4.46

25.70 26.26 28.17 25.79 24.50 25.06

11.11 11.81 12.68 11.05 9.73 10.44

24.35 23.45 23.61 24.29 24.36 24.51

17.16 16.93 17.25 17.02 17.53 18.10

27.00 27.29 27.76 27.34 27.53 27.05

3.98 3.93 3.99 3.96 3.87 4.04

15.41 14.32 16.82 16.35 15.85 17.28

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

104.85 102.65 105.98 107.25 107.91 111.29

0.21 0.47 0.31 0.28 0.27 0.26

104.64 102.18 105.67 106.97 107.64 111.03

4.62 4.61 4.86 4.78 4.86 4.87

26.38 25.87 26.25 25.98 25.90 27.98

11.19 10.90 10.83 10.43 10.85 12.08

24.37 24.04 25.17 25.44 25.68 26.56

17.64 16.19 17.46 18.06 18.24 18.59

27.59 27.68 28.00 28.71 28.93 29.00

4.04 3.79 3.94 4.00 4.04 4.02

17.49 16.24 18.80 19.96 18.63 19.87

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

112.12 114.66 118.46 118.93 120.76 124.37

0.25 0.23 0.30 0.26 0.26 0.27

111.88 114.42 118.17 118.68 120.49 124.11

4.88 5.04 5.09 5.07 5.28 5.23

28.74 30.86 31.71 31.01 32.38 35.06

12.59 13.38 14.08 13.04 13.39 15.10

26.89 26.47 27.41 27.99 28.18 29.32

17.97 18.65 18.81 18.96 19.24 18.97

29.37 29.24 30.97 31.41 31.20 31.34

4.04 4.16 4.18 4.25 4.22 4.19

16.75 16.66 20.40 19.57 18.63 21.10

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

122.80 125.16 124.62 128.69 131.84 130.52

0.31 0.27 0.25 0.28 0.30 0.26

122.49 124.90 124.37 128.42 131.55 130.25

5.21 5.19 5.07 5.24 5.39 5.45

34.02 36.61 35.24 38.05 40.55 38.61

14.14 15.99 15.00 17.22 19.52 17.04

29.11 29.02 29.65 29.90 29.70 29.83

19.02 19.10 19.40 19.51 19.19 19.43

30.99 30.72 30.86 31.55 32.60 32.70

4.14 4.27 4.15 4.16 4.12 4.24

19.55 20.14 20.40 22.05 21.97 21.05

Year and month

1Not seasonally adjusted.

. . . = Not available.

Total: Census basis

Foods, feeds, and beverages

Total

Petroleum and products

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

169

Table 7-12. U.S. Exports and Imports of Goods by Principal End-Use Category in Constant Dollars (Census basis; billions of 2000 chain-weighted dollars, except as noted; seasonally adjusted.) Exports Year and month Total

Foods, feeds, and beverages

Industrial supplies and materials

Capital goods, except automotive

Imports AutoConsumer motive goods vehicles, (nonfood), engines, except and parts automotive

Other goods

Total

Foods, feeds, and beverages

Industrial supplies and materials

Capital goods, except automotive

AutoConsumer motive goods vehicles, (nonfood), engines, except and parts automotive

Other goods

1986 1 1987 1 1988 1 1989 1

.............................. .............................. .............................. ..............................

227.20 254.10 322.40 363.80

22.30 24.30 32.30 37.20

57.30 66.70 85.10 99.30

75.80 86.20 109.20 138.80

21.70 24.60 29.30 34.80

... ... ... ...

... ... ... ...

365.40 406.20 441.00 473.20

24.40 24.80 24.80 25.10

101.30 111.00 118.30 132.30

71.80 84.50 101.40 113.30

78.20 85.00 87.70 86.10

79.40 88.70 95.90 102.90

... ... ... ...

1990 1 1991 1 1992 1 1993 1 1994 1

.............................. .............................. .............................. .............................. ..............................

393.60 421.70 448.20 471.17 522.29

35.10 35.70 40.30 40.19 40.43

104.40 109.70 109.10 111.08 114.17

152.70 166.70 175.90 190.02 225.76

37.40 40.00 47.00 51.93 56.54

39.22 40.42 43.60 54.03 58.97

18.70 21.11 21.71 23.91 26.41

495.30 488.50 532.70 591.45 675.05

26.60 26.50 27.60 28.03 29.52

146.20 131.60 138.60 151.26 168.80

116.40 120.70 134.30 160.16 199.56

87.30 85.70 91.80 100.73 112.13

105.70 108.00 122.70 132.92 144.22

14.46 14.15 15.46 18.35 20.82

1994 .................................

482.34

41.41

127.50

165.92

60.49

62.41

28.03

628.41

29.53

216.50

120.69

124.86

143.41

21.80

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

531.74 588.10 666.61 682.35 704.29

45.70 44.24 44.12 43.84 45.35

136.13 144.48 156.35 155.76 156.88

192.70 228.74 280.22 292.61 308.44

64.02 66.63 75.18 73.38 75.99

66.02 70.86 77.82 80.86 81.42

28.79 33.61 33.38 36.15 36.12

682.73 753.96 858.67 959.84 1 075.39

30.28 33.53 36.75 39.54 43.18

222.84 236.42 252.73 277.01 281.43

145.53 175.55 219.82 252.14 289.21

126.99 131.33 141.98 150.86 180.17

154.37 165.33 188.23 213.38 239.60

23.01 25.69 29.06 35.81 43.70

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

781.92 733.58 699.04 714.14 778.88

47.87 49.14 48.06 48.93 45.37

172.62 164.85 162.18 166.68 177.99

356.93 321.92 293.02 298.61 337.57

80.36 75.13 78.30 79.63 87.48

89.38 88.38 84.68 89.30 101.50

34.77 34.15 32.85 31.35 31.73

1 218.02 1 177.64 1 220.88 1 284.66 1 431.13

45.98 47.76 50.95 55.65 59.08

298.98 297.51 300.14 311.94 347.94

347.03 306.31 300.13 317.05 371.91

195.88 189.86 203.24 208.51 223.02

281.83 286.48 313.01 339.95 377.11

48.33 48.79 50.30 47.86 48.79

2001 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

65.78 66.05 64.35 62.83 63.92 61.38

3.89 4.12 4.31 4.28 4.15 4.05

14.32 14.46 14.32 14.07 14.11 13.78

30.88 30.91 29.06 27.82 28.33 26.60

6.13 6.03 6.19 6.23 6.31 6.56

7.65 7.82 7.74 7.72 7.99 7.25

2.90 2.70 2.73 2.70 3.03 3.16

104.91 100.39 103.28 100.13 96.87 97.31

3.89 3.84 3.72 3.81 3.85 4.06

27.06 25.40 26.27 25.25 24.12 23.98

29.12 28.20 28.57 26.41 25.18 25.13

15.97 15.59 15.67 15.94 15.74 15.99

24.72 23.27 25.18 24.44 23.68 23.97

4.06 4.03 3.81 4.17 4.19 4.04

July .............................. August .......................... September ................... October ........................ November .................... December ....................

59.71 60.22 56.85 57.72 57.65 57.13

3.98 4.13 3.97 4.09 4.15 4.03

13.42 13.77 12.83 13.27 13.19 13.30

25.89 25.68 24.16 24.29 24.27 24.03

6.17 6.51 6.35 6.26 6.40 6.00

7.28 7.11 6.87 6.98 6.87 7.10

2.96 3.01 2.66 2.83 2.77 2.69

97.24 96.32 94.41 96.65 96.44 93.70

4.17 4.11 4.18 4.16 4.05 3.91

24.18 23.97 23.36 24.47 24.95 24.51

24.61 24.36 23.47 23.97 23.78 23.51

16.04 16.30 15.68 15.70 15.89 15.36

24.03 23.46 23.64 24.16 23.61 22.33

4.10 4.00 3.94 4.13 4.17 4.15

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

56.93 56.85 56.86 58.73 58.92 59.40

4.14 4.24 3.92 3.98 4.05 4.25

13.24 13.14 13.08 13.57 13.76 13.76

24.01 23.60 24.04 24.63 24.40 24.96

6.09 6.24 6.30 6.67 6.67 6.78

6.93 7.02 6.80 7.11 7.05 7.05

2.52 2.61 2.71 2.78 3.00 2.59

96.53 99.06 97.70 100.79 100.89 102.57

3.96 4.19 4.10 4.13 4.18 4.30

25.00 24.90 23.68 25.18 24.59 24.25

24.02 24.38 24.73 25.04 25.03 25.31

15.73 16.41 16.22 16.92 16.80 17.09

23.73 24.91 24.26 25.18 25.82 26.82

4.12 4.12 4.44 4.11 4.20 4.47

July .............................. August .......................... September ................... October ........................ November .................... December ....................

59.42 59.38 58.67 58.09 58.83 56.95

4.18 4.01 3.75 3.61 3.89 4.04

13.46 13.72 13.58 13.27 13.83 13.77

25.01 24.97 25.05 24.64 24.74 22.98

6.69 6.74 6.59 6.58 6.48 6.49

7.29 7.11 7.03 7.19 7.17 6.92

2.78 2.84 2.69 2.84 2.75 2.74

101.67 103.96 103.15 100.20 106.54 107.82

4.36 4.40 4.27 4.14 4.44 4.49

24.32 25.01 24.60 25.17 26.31 27.16

25.26 25.11 25.19 23.92 26.02 26.12

16.83 17.66 17.60 16.97 17.48 17.53

26.46 27.32 26.93 25.60 27.94 28.06

4.15 4.12 4.22 4.10 4.06 4.19

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

57.81 58.00 58.24 57.89 57.70 59.83

4.09 4.03 4.02 4.05 3.93 4.16

14.02 13.62 13.84 13.67 13.63 14.12

23.33 24.29 23.79 23.58 23.60 24.64

6.54 6.52 6.66 6.64 6.83 6.73

7.40 7.04 7.27 7.10 7.23 7.54

2.42 2.50 2.66 2.83 2.50 2.65

105.09 103.08 105.35 105.76 106.23 106.09

4.51 4.38 4.54 4.59 4.64 4.49

25.73 24.74 25.78 26.11 25.75 25.52

26.00 25.07 25.28 25.99 26.11 26.21

17.09 16.83 17.15 16.91 17.42 17.97

27.47 27.85 28.30 27.85 28.07 27.50

4.03 3.96 3.98 3.99 3.91 4.06

July .............................. August .......................... September ................... October ........................ November .................... December ....................

60.18 58.66 60.14 60.80 62.99 61.93

4.28 4.21 4.05 4.07 4.08 3.96

14.37 13.60 13.64 13.93 13.96 14.30

24.77 24.65 25.55 26.14 27.66 26.61

6.56 6.11 6.63 6.82 6.69 6.90

7.51 7.43 7.61 7.51 7.93 7.74

2.69 2.67 2.71 2.40 2.80 2.52

107.19 104.55 108.27 109.87 110.13 113.06

4.62 4.64 4.86 4.77 4.82 4.79

26.52 25.78 26.30 26.25 25.93 27.54

26.08 25.75 26.98 27.41 27.59 28.60

17.51 16.08 17.35 17.85 18.01 18.33

28.05 28.18 28.52 29.27 29.42 29.47

4.06 3.82 3.96 4.02 4.05 4.02

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

61.12 63.33 64.91 63.87 65.62 63.73

3.75 3.74 3.68 3.52 3.57 3.56

14.06 14.48 14.95 14.66 15.20 14.65

26.51 27.71 28.14 27.68 28.86 27.33

6.67 6.87 7.13 7.13 7.18 7.08

7.72 8.09 8.49 8.41 8.44 8.38

2.55 2.64 2.74 2.72 2.67 2.95

112.43 114.36 117.34 117.22 117.78 121.14

4.79 4.87 4.90 4.84 5.08 5.03

27.16 28.66 28.80 27.52 27.55 29.61

28.88 28.45 29.45 30.25 30.46 31.83

17.69 18.34 18.48 18.60 18.86 18.56

29.67 29.54 31.28 31.74 31.59 31.74

3.99 4.09 4.12 4.16 4.13 4.09

July .............................. August .......................... September ................... October ........................ November .................... December ....................

65.08 65.62 66.49 66.21 65.38 67.52

3.58 3.81 4.03 4.02 4.02 4.09

15.20 14.77 14.99 15.01 14.79 15.23

28.52 28.62 28.59 28.59 28.02 29.01

7.38 7.61 7.59 7.57 7.46 7.82

8.26 8.55 8.67 8.69 8.69 9.12

2.41 2.54 2.84 2.56 2.60 2.51

119.67 120.51 119.53 121.84 124.76 124.56

4.99 4.98 4.78 4.85 4.97 4.99

28.87 29.78 28.35 29.34 31.39 30.93

31.60 31.50 32.23 32.59 32.32 32.36

18.58 18.63 18.89 18.96 18.61 18.82

31.38 31.11 31.26 31.93 32.93 32.93

4.03 4.14 4.02 4.03 3.95 4.04

1Data

on the 2000 chain-weighted dollar basis are only available for 1994 to date. To provide more historical data, values in 1992 dollars are shown for the years 1986–1994. . . . = Not available.

170

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-13. U.S. Exports of Goods by Selected Regions and Countries (Census f.a.s. basis; millions of dollars, not seasonally adjusted.) Selected regions Year and month

Total, all countries

European Union 1

Euro area

Selected countries

Asian NICS

OPEC

Brazil

Canada

China

France

Germany (Federal Republic)

Hong Kong

1972 .......................................... 1973 .......................................... 1974 ..........................................

... ... ...

... ... 28 268

... ... ...

... ... ...

... ... 6 723

1 243 1 916 3 088

13 070 16 146 21 281

... ... 807

1 609 2 263 2 942

2 808 3 756 4 985

... ... 882

1975 1976 1977 1978 1979

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... ... ...

22 862 25 406 26 476 32 051 42 582

... ... ... ... ...

... ... ... ... ...

10 767 12 566 14 019 16 655 15 051

3 056 2 809 2 490 2 981 3 442

22 948 25 677 27 738 30 540 37 599

304 135 171 824 1 724

3 031 3 446 3 503 4 166 5 587

5 194 5 731 5 989 6 957 8 478

808 1 115 1 292 1 625 2 083

1980 1981 1982 1983 1984

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... 201 708 218 743

53 679 52 363 47 932 44 311 46 976

... ... ... ... ...

... ... ... ... ...

17 759 21 533 22 863 16 905 14 387

4 344 3 798 3 423 2 557 2 640

40 331 44 602 37 887 43 345 51 777

3 755 3 603 2 912 2 173 3 004

7 485 7 341 7 110 5 961 6 037

10 960 10 277 9 291 8 737 9 084

2 686 2 635 2 453 2 564 3 062

1985 1986 1987 1988 1989

.......................................... .......................................... .......................................... .......................................... ..........................................

212 621 226 471 253 904 323 335 363 836

48 994 53 154 60 575 75 755 86 331

... ... ... ... ...

16 918 18 289 23 548 34 816 38 404

12 480 10 844 11 058 13 994 13 196

3 140 3 885 4 040 4 267 4 804

53 287 55 512 59 814 71 622 78 809

3 856 3 106 3 497 5 021 5 755

6 096 7 216 7 943 9 970 11 579

9 050 10 561 11 748 14 348 16 862

2 786 3 030 3 983 5 687 6 246

1990 1991 1992 1993 1994

.......................................... .......................................... .......................................... .......................................... ..........................................

392 924 421 764 448 161 465 090 512 626

98 027 103 123 102 958 96 973 102 818

... ... ... ... ...

40 741 45 628 48 592 52 502 59 595

13 679 19 054 21 960 19 500 17 868

5 062 6 148 5 751 6 058 8 102

83 866 85 150 90 594 100 444 114 439

4 807 6 278 7 418 8 763 9 282

13 652 15 346 14 593 13 267 13 619

18 693 21 302 21 249 18 932 19 229

6 841 8 137 9 077 9 874 11 441

1995 1996 1997 1998 1999

.......................................... .......................................... .......................................... .......................................... ..........................................

584 742 625 075 689 182 682 138 695 797

123 671 127 710 140 773 149 035 151 814

... ... ... ... ...

74 234 75 768 78 225 63 269 70 989

19 533 22 275 25 526 25 154 20 166

11 439 12 718 15 915 15 142 13 203

127 226 134 210 151 767 156 603 166 600

11 754 11 993 12 862 14 241 13 111

14 245 14 455 15 965 17 729 18 877

22 394 23 495 24 458 26 657 26 800

14 232 13 966 15 117 12 925 12 652

2000 2001 2002 2003 2004

.......................................... .......................................... .......................................... .......................................... ..........................................

781 918 729 100 693 103 724 771 818 775

165 065 158 768 143 691 151 731 168 572

116 212 112 903 105 838 113 132 127 158

84 624 71 982 69 770 71 601 83 593

19 078 20 053 18 812 17 279 22 262

15 321 15 880 12 376 11 211 13 897

178 941 163 424 160 923 169 924 189 880

16 185 19 182 22 128 28 368 34 744

20 362 19 865 19 016 17 053 21 263

29 448 29 995 26 630 28 832 31 416

14 582 14 028 12 594 13 521 15 827

2001 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

62 162 62 743 70 358 62 015 64 931 63 334

13 645 14 531 15 346 13 632 14 163 13 715

9 827 10 463 11 032 9 476 9 676 9 487

6 443 6 508 6 988 5 841 5 786 5 895

1 705 1 483 2 287 1 688 1 670 1 653

1 265 1 169 1 412 1 295 1 486 1 514

13 667 13 357 15 524 14 403 15 108 15 051

1 188 1 290 1 856 1 399 1 596 1 786

1 642 1 972 2 042 1 610 1 687 1 749

2 546 2 928 2 892 2 508 2 605 2 432

1 046 1 170 1 379 1 317 1 112 1 295

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

54 611 60 111 55 232 60 701 57 900 55 003

11 325 12 627 12 035 13 056 12 143 12 551

7 896 8 974 8 506 9 489 8 850 9 227

5 866 5 641 6 120 5 727 5 771 5 395

1 653 1 530 1 577 1 624 1 597 1 586

1 434 1 476 1 249 1 134 1 344 1 100

11 700 13 764 12 423 13 895 13 214 11 319

1 487 1 930 1 428 1 648 1 675 1 901

1 233 1 404 1 613 1 700 1 644 1 570

2 443 2 389 2 255 2 371 2 173 2 453

1 145 1 162 1 217 1 064 1 024 1 098

2002 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

52 667 53 061 60 728 58 146 59 884 59 920

11 408 12 153 13 298 12 079 11 948 11 908

8 249 8 983 9 842 8 758 8 829 8 578

5 216 4 619 6 289 5 819 5 817 6 408

1 238 1 348 1 431 1 591 2 043 1 431

1 016 1 004 1 076 1 059 969 1 017

12 062 12 368 13 954 14 114 14 586 14 214

1 569 1 530 1 621 1 545 1 774 2 206

1 543 1 872 1 801 1 578 1 570 1 532

2 022 2 183 2 530 2 133 2 084 2 197

900 911 1 134 1 043 1 054 1 135

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

55 032 59 491 57 277 61 975 59 671 55 249

10 537 11 752 11 571 13 015 12 470 11 553

7 722 8 460 8 521 9 748 9 470 8 679

6 313 6 246 5 813 6 078 5 614 5 539

1 569 1 492 1 924 1 646 1 641 1 459

970 1 134 1 053 1 159 1 037 882

11 607 13 913 13 334 14 702 13 908 12 161

1 848 1 840 2 024 1 963 2 161 2 049

1 249 1 287 1 503 1 993 1 704 1 384

1 990 2 147 2 328 2 402 2 419 2 194

1 035 1 113 1 117 1 009 1 089 1 055

2003 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

54 854 55 917 63 524 59 162 59 984 61 570

11 823 12 091 13 884 12 929 12 709 12 678

8 809 8 936 10 084 9 823 9 377 9 359

5 064 5 704 6 265 5 366 5 399 6 092

1 126 1 358 1 562 1 279 1 242 1 624

809 812 937 847 882 942

12 890 13 293 15 360 14 646 15 208 15 003

2 070 2 049 2 423 2 122 1 984 2 120

1 369 1 314 1 717 1 568 1 458 1 521

2 160 2 426 2 803 2 477 2 490 2 262

947 954 1 183 1 061 1 063 1 078

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

57 070 58 611 60 239 66 389 64 492 62 959

11 553 11 962 12 159 13 575 13 627 12 742

8 564 8 757 9 190 10 329 10 379 9 525

6 226 6 391 5 753 6 481 6 155 6 705

1 387 1 449 1 640 1 514 1 514 1 584

951 1 031 924 1 034 1 001 1 040

12 030 12 990 14 518 15 555 14 598 13 834

2 067 2 034 2 091 2 778 3 320 3 310

1 193 1 265 1 331 1 439 1 418 1 460

2 210 2 315 2 191 2 659 2 470 2 370

1 075 1 147 1 218 1 288 1 189 1 318

2004 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

59 083 63 418 74 195 67 770 69 615 68 747

12 480 13 612 15 773 14 439 14 498 13 636

9 288 10 251 11 763 10 801 10 857 10 392

5 655 6 572 7 722 6 595 7 532 7 098

1 423 1 401 1 815 1 559 1 797 2 013

1 043 1 317 1 281 1 104 1 153 1 072

13 316 14 399 17 227 16 027 16 311 16 433

2 629 2 979 3 375 2 735 2 874 2 791

1 484 1 581 2 112 1 741 1 827 1 856

2 310 2 503 2 838 2 558 2 724 2 493

1 072 1 259 1 385 1 267 1 263 1 331

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

64 240 67 571 69 561 73 490 69 613 71 473

12 750 13 258 13 940 15 016 14 196 14 974

9 526 9 884 10 606 11 499 10 777 11 514

6 988 7 370 7 230 6 965 6 271 7 596

1 825 1 810 1 960 2 280 2 030 2 350

1 160 1 231 1 131 1 181 1 110 1 115

13 864 16 070 16 633 16 969 16 676 15 956

2 668 2 675 2 862 2 947 2 965 3 246

1 407 1 471 1 817 2 085 1 964 1 918

2 421 2 618 2 780 2 862 2 573 2 738

1 338 1 339 1 431 1 403 1 300 1 440

115 members. See notes and definitions.

. . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

171

Table 7-13. U.S. Exports of Goods by Selected Regions and Countries—Continued (Census f.a.s. basis; millions of dollars, not seasonally adjusted.) Selected countries—Continued Year and month Indonesia

Italy

Japan

Korea, South

Malaysia

Mexico

Netherlands

Singapore

Taiwan

United Kingdom

Venezuela

1972 .......................................... 1973 .......................................... 1974 ..........................................

... ... ...

1 434 2 119 2 752

4 963 8 313 10 679

... ... ...

... ... ...

1 982 2 937 4 855

... ... 3 979

... ... 988

... ... 1 427

2 658 3 564 4 574

924 1 033 1 768

1975 1976 1977 1978 1979

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... ... ...

2 867 3 071 2 790 3 361 4 362

9 563 10 145 10 529 12 885 17 581

... ... ... ... ...

... ... ... ... ...

5 141 4 990 4 806 6 680 9 847

4 183 4 645 4 796 5 683 6 907

994 965 1 172 1 462 2 331

1 660 1 635 1 798 2 340 3 271

4 527 4 801 5 951 7 116 10 635

2 243 2 628 3 171 3 728 3 934

1980 1981 1982 1983 1984

.......................................... .......................................... .......................................... .......................................... ..........................................

1 545 1 302 2 025 1 466 1 216

5 511 5 360 4 616 3 908 4 375

20 790 21 823 20 966 21 894 23 575

... ... ... ... ...

... ... ... ... ...

15 145 17 789 11 817 9 082 11 992

8 669 8 595 8 604 7 767 7 554

3 033 3 003 3 214 3 759 3 675

4 337 4 305 4 367 4 667 5 003

12 694 12 439 10 645 10 621 12 210

4 573 5 445 5 206 2 811 3 377

1985 1986 1987 1988 1989

.......................................... .......................................... .......................................... .......................................... ..........................................

795 946 767 1 059 1 247

4 625 4 838 5 530 6 775 7 215

22 631 26 882 28 249 37 725 44 494

5 956 6 355 8 099 11 232 13 478

... ... ... ... ...

13 635 12 392 14 582 20 628 24 982

7 269 7 848 8 217 10 117 11 364

3 476 3 380 4 053 5 768 7 345

4 700 5 524 7 413 12 129 11 335

11 273 11 418 14 114 18 364 20 837

3 399 3 141 3 586 4 612 3 025

1990 1991 1992 1993 1994

.......................................... .......................................... .......................................... .......................................... ..........................................

1 897 1 891 2 779 2 770 2 809

7 987 8 570 8 721 6 464 7 183

48 585 48 125 47 813 47 892 53 488

14 399 15 505 14 639 14 782 18 025

... 3 900 4 363 6 064 6 969

28 375 33 277 40 592 41 581 50 844

13 016 13 511 13 752 12 839 13 582

8 019 8 804 9 626 11 678 13 020

11 482 13 182 15 250 16 168 17 109

23 484 22 046 22 800 26 438 26 900

3 107 4 656 5 444 4 590 4 039

1995 1996 1997 1998 1999

.......................................... .......................................... .......................................... .......................................... ..........................................

3 360 3 977 4 522 2 299 2 038

8 862 8 797 8 995 8 991 10 091

64 343 67 607 65 549 57 831 57 466

25 380 26 621 25 046 16 486 22 958

8 816 8 546 10 780 8 957 9 060

46 292 56 792 71 388 78 773 86 909

16 558 16 662 19 827 18 978 19 437

15 333 16 720 17 696 15 694 16 247

19 290 18 460 20 366 18 165 19 131

28 857 30 962 36 425 39 058 38 407

4 640 4 750 6 602 6 516 5 354

2000 2001 2002 2003 2004

.......................................... .......................................... .......................................... .......................................... ..........................................

2 402 2 521 2 556 2 516 2 671

11 060 9 916 10 057 10 561 10 685

64 924 57 452 51 449 52 004 54 243

27 830 22 181 22 576 24 073 26 413

10 938 9 358 10 344 10 914 10 921

111 349 101 297 97 470 97 412 110 835

21 836 19 485 18 311 20 695 24 289

17 806 17 652 16 218 16 560 19 609

24 406 18 122 18 382 17 448 21 744

41 570 40 714 33 205 33 828 36 000

5 550 5 642 4 430 2 831 4 767

2001 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

234 203 218 217 239 201

918 889 968 792 841 808

5 253 5 222 5 897 5 033 4 878 4 986

2 150 2 025 2 217 1 627 1 692 1 783

899 778 1 011 887 679 682

8 648 8 768 9 272 8 198 8 649 8 405

1 809 1 821 1 912 1 756 1 594 1 627

1 434 1 541 1 689 1 233 1 550 1 453

1 813 1 772 1 703 1 664 1 433 1 365

3 374 3 486 3 700 3 719 4 036 3 824

461 411 517 451 494 524

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

185 198 173 212 198 243

720 735 724 961 770 790

4 308 4 604 4 336 4 352 4 287 4 296

1 774 1 747 2 000 1 532 1 858 1 776

689 700 678 715 720 920

7 675 9 023 7 700 9 273 8 346 7 337

1 290 1 530 1 363 1 501 1 614 1 668

1 434 1 370 1 523 1 766 1 475 1 183

1 513 1 362 1 380 1 365 1 414 1 339

3 087 3 252 3 157 3 190 2 936 2 952

477 511 416 499 481 400

2002 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

136 198 201 195 222 195

714 797 885 824 933 775

3 945 3 862 4 744 3 901 4 262 4 670

1 706 1 487 1 877 1 931 1 991 1 975

726 688 1 253 960 856 1 003

7 734 7 250 7 624 8 258 8 530 8 088

1 460 1 480 1 710 1 714 1 593 1 531

1 386 1 069 1 705 1 329 1 235 1 538

1 224 1 152 1 573 1 516 1 538 1 760

2 764 2 771 2 985 2 957 2 702 2 966

374 379 365 320 677 272

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

198 282 187 212 268 262

836 823 679 977 914 901

4 493 4 791 4 138 4 151 4 412 4 082

1 890 1 919 1 974 1 982 1 800 2 044

828 907 798 874 723 728

7 963 8 559 8 283 9 221 8 606 7 354

1 353 1 514 1 505 1 476 1 490 1 484

1 323 1 600 1 133 1 583 1 302 1 015

2 066 1 614 1 588 1 504 1 423 1 425

2 456 2 914 2 643 2 904 2 619 2 524

304 329 400 374 470 165

2003 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

238 207 233 194 192 200

956 752 849 787 1 071 866

3 919 4 136 4 470 4 475 4 562 4 403

1 726 2 162 2 182 1 919 1 825 2 115

719 689 848 917 983 896

7 780 7 093 7 805 7 816 8 082 8 012

1 529 1 550 1 861 1 816 1 590 1 667

1 069 1 425 1 566 1 146 1 312 1 341

1 322 1 163 1 335 1 240 1 199 1 559

2 670 2 781 3 300 2 729 2 939 2 949

121 188 183 179 182 218

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

184 195 173 193 248 260

746 736 748 1 110 961 979

4 238 4 298 4 163 4 384 4 481 4 475

1 949 1 860 1 885 2 111 2 199 2 139

976 913 970 998 946 1 058

7 904 7 941 8 534 9 520 8 621 8 304

1 524 1 610 1 586 2 031 2 081 1 850

1 599 1 847 1 258 1 450 1 262 1 286

1 604 1 538 1 391 1 633 1 504 1 962

2 655 2 818 2 577 2 821 2 806 2 782

279 288 241 308 348 296

2004 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

192 215 261 191 223 218

761 773 954 1 007 1 037 870

3 975 4 117 5 121 4 772 4 353 4 792

1 831 2 273 2 350 1 971 2 503 2 133

929 908 1 020 918 920 811

8 097 8 073 9 712 9 342 9 216 9 172

1 635 2 073 2 088 2 155 2 017 1 928

1 231 1 389 1 964 1 670 1 857 1 742

1 520 1 651 2 023 1 686 1 909 1 892

2 814 2 895 3 400 3 078 3 143 2 887

281 291 398 389 377 393

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

245 188 208 254 223 253

782 734 869 963 962 973

4 567 4 291 4 453 5 102 4 254 4 448

2 171 2 374 2 254 2 091 2 025 2 438

855 846 872 898 915 1 030

8 781 9 512 9 635 10 076 9 996 9 224

1 768 2 028 2 079 2 244 1 925 2 351

1 781 2 023 1 687 1 541 1 309 1 415

1 699 1 635 1 859 1 931 1 636 2 304

2 856 2 926 2 904 3 051 3 017 3 030

404 414 409 486 461 464

. . . = Not available.

172

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-14. U.S. Imports of Goods by Selected Regions and Countries (Census Customs basis; millions of dollars, not seasonally adjusted.) Selected regions Year and month

Total, all countries

European Union 1

Euro area

Selected countries

Asian NICS

OPEC

Brazil

Canada

China

France

Germany (Federal Republic)

Hong Kong

1972 .......................................... 1973 .......................................... 1974 ..........................................

... ... ...

... ... 19 035

... ... ...

... ... ...

... ... ...

942 1 189 1 700

14 927 17 715 21 924

... ... ...

1 369 1 732 2 257

4 250 5 345 6 324

... ... ...

1975 1976 1977 1978 1979

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... ... ...

16 610 17 848 22 087 29 009 33 295

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1 464 1 737 2 241 2 826 3 118

21 747 26 237 29 599 33 525 38 046

... ... ... ... ...

2 137 2 509 3 032 4 051 4 768

5 382 5 592 7 238 9 962 10 955

... ... ... ... ...

1980 1981 1982 1983 1984

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... 261 723 330 510

35 958 41 624 42 509 43 892 57 360

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3 715 4 475 4 285 4 946 7 621

41 455 46 414 46 477 52 130 66 478

... ... ... ... ...

5 247 5 851 5 545 6 025 8 113

11 681 11 379 11 975 12 695 16 996

... ... ... ... ...

1985 1986 1987 1988 1989

.......................................... .......................................... .......................................... .......................................... ..........................................

336 383 365 672 406 283 441 926 473 647

67 822 75 736 81 188 84 939 85 153

... ... ... ... ...

... ... ... ... ...

22 800 19 750 23 953 22 962 30 601

7 526 6 813 7 865 9 294 8 410

69 006 68 253 71 085 81 398 87 953

3 862 4 771 6 294 8 511 11 989

9 482 10 129 10 730 12 509 13 013

20 239 25 124 27 069 26 362 24 832

8 396 8 891 9 854 10 238 9 739

1990 1991 1992 1993 1994

.......................................... .......................................... .......................................... .......................................... ..........................................

495 980 488 452 532 663 580 658 663 256

91 868 86 481 93 993 97 941 110 875

... ... ... ... ...

... 59 277 62 384 64 572 71 388

38 017 32 644 33 200 31 739 31 685

7 976 6 717 7 609 7 479 8 683

91 372 91 064 98 630 111 216 128 406

15 224 18 969 25 728 31 540 38 787

13 124 13 333 14 797 15 279 16 699

28 109 26 137 28 820 28 562 31 744

9 488 9 279 9 793 9 554 9 696

1995 1996 1997 1998 1999

.......................................... .......................................... .......................................... .......................................... ..........................................

743 543 795 289 869 704 911 896 1 024 618

131 871 142 947 157 528 176 380 195 227

... ... ... ... ...

82 008 82 770 86 164 85 961 95 102

35 197 44 285 44 025 33 925 41 978

8 830 8 773 9 626 10 102 11 314

145 349 155 893 168 201 173 256 198 711

45 543 51 513 62 558 71 169 81 788

17 209 18 646 20 636 24 016 25 709

36 844 38 945 43 122 49 842 55 228

10 291 9 865 10 288 10 538 10 528

2000 2001 2002 2003 2004

.......................................... .......................................... .......................................... .......................................... ..........................................

1 218 022 1 140 999 1 161 366 1 257 121 1 469 704

220 019 220 057 225 771 244 826 272 439

163 520 166 373 172 573 187 204 209 606

111 438 93 202 91 850 92 818 105 476

67 090 59 754 53 245 68 344 94 105

13 853 14 466 15 781 17 910 21 160

230 838 216 268 209 088 221 595 256 360

100 018 102 278 125 193 152 436 196 682

29 800 30 408 28 240 29 219 31 606

58 513 59 077 62 506 68 113 77 266

11 449 9 646 9 328 8 851 9 314

2001 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

101 869 91 639 103 536 96 265 96 605 95 663

18 896 17 861 20 172 19 218 19 039 17 843

14 082 13 275 15 379 14 508 14 431 13 484

9 064 7 286 8 416 7 669 7 578 7 733

5 793 4 781 5 642 5 439 5 790 5 224

1 360 1 050 1 202 1 077 1 261 1 188

20 442 18 263 19 976 18 733 19 603 18 915

8 428 6 376 7 590 7 687 7 758 8 398

2 525 2 344 3 309 2 734 2 612 2 303

4 875 4 846 5 345 5 378 5 219 4 783

982 617 751 662 759 868

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

94 625 96 728 89 484 101 177 91 705 81 703

19 522 17 466 15 292 20 147 18 015 16 587

14 876 13 495 11 553 15 071 13 524 12 694

7 784 7 694 7 323 8 261 7 595 6 800

5 300 4 933 4 872 4 717 3 778 3 487

1 211 1 428 1 209 1 175 1 183 1 123

15 793 18 001 16 698 17 542 17 170 15 132

8 975 10 043 9 928 10 808 8 879 7 409

2 629 2 364 1 873 2 714 2 469 2 533

5 423 5 055 4 147 5 037 4 582 4 387

930 910 915 922 712 619

2002 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

85 111 83 473 91 415 96 891 97 649 96 415

16 057 16 651 18 829 18 997 18 932 18 236

12 180 12 876 14 445 14 189 14 229 13 848

7 275 6 478 7 185 7 635 7 753 7 437

3 733 3 298 3 898 4 512 4 586 4 153

1 093 1 024 1 104 1 250 1 261 1 384

16 335 16 180 17 481 18 186 18 794 17 436

8 415 8 021 7 259 9 098 9 847 10 727

2 284 2 184 2 465 2 576 2 043 2 311

4 195 4 636 5 255 5 185 4 900 4 620

836 603 589 674 738 787

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

100 472 102 277 99 429 106 251 102 564 99 418

20 953 18 168 17 705 20 897 19 711 20 635

16 084 14 043 13 475 16 032 15 057 16 116

7 988 8 027 7 935 7 862 8 349 7 927

4 714 5 139 4 880 5 130 4 591 4 611

1 400 1 581 1 350 1 649 1 296 1 390

15 911 17 943 17 862 19 044 17 685 16 232

11 213 12 671 12 292 11 455 12 570 11 625

2 687 2 201 2 166 2 526 2 275 2 523

5 796 5 108 4 914 5 993 5 750 6 156

934 867 861 896 818 725

2003 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

97 491 93 154 105 842 103 869 102 068 103 958

18 192 18 057 21 275 20 531 20 234 20 512

14 291 13 585 16 203 15 757 15 277 15 691

7 821 6 517 7 185 7 874 7 233 7 749

4 827 4 745 6 565 6 296 5 653 5 608

1 434 1 305 1 535 1 427 1 398 1 479

17 735 17 184 19 823 18 454 18 668 18 574

11 404 9 630 10 110 11 522 11 885 12 127

2 354 2 215 2 329 2 424 2 237 2 461

4 877 4 860 6 271 5 943 5 883 5 736

822 564 563 625 626 692

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

107 631 102 307 108 322 117 158 106 066 109 255

21 665 18 619 19 746 22 255 20 868 22 873

16 682 14 523 14 728 16 720 16 208 17 537

8 071 7 390 8 102 8 732 7 819 8 325

5 821 5 568 5 738 5 956 5 414 6 152

1 647 1 634 1 465 1 635 1 348 1 603

17 079 17 584 19 361 20 138 18 641 18 354

13 439 13 765 14 748 16 458 14 157 13 193

2 524 2 278 2 347 2 617 2 551 2 881

5 785 5 135 5 016 6 060 6 046 6 501

871 839 920 958 696 678

2004 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

103 993 104 864 123 421 118 885 118 271 127 657

18 348 21 052 24 736 23 600 22 607 23 294

14 005 16 182 18 918 17 856 17 211 17 882

7 933 7 051 8 528 8 367 8 796 9 274

6 136 6 199 7 328 6 906 7 480 8 082

1 393 1 209 1 513 1 554 1 626 2 009

18 926 19 357 22 483 21 499 21 250 23 251

14 089 11 267 13 800 14 745 15 067 16 888

2 258 2 161 2 732 2 542 2 407 2 680

5 013 5 988 6 791 6 621 6 616 6 065

806 531 692 656 616 780

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

123 224 127 216 126 022 134 816 134 719 126 617

22 708 22 077 21 114 23 823 24 372 24 708

17 617 17 604 16 318 18 416 18 687 18 908

9 101 9 180 9 742 9 504 9 430 8 569

7 889 9 178 8 394 9 404 9 064 8 045

2 024 1 807 2 126 2 014 1 880 2 005

19 777 22 018 21 688 22 411 22 876 20 826

17 562 18 068 18 387 19 718 19 679 17 412

2 558 2 471 2 646 3 152 2 960 3 040

6 705 6 488 5 994 7 034 6 959 6 992

888 896 957 963 829 701

115 members. See notes and definitions.

. . . = Not available.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

173

Table 7-14. U.S. Imports of Goods by Selected Regions and Countries—Continued (Census Customs basis; millions of dollars, not seasonally adjusted.) Selected countries—Continued Year and month Indonesia

Italy

Japan

Korea, South

Malaysia

Mexico

Netherlands

Singapore

Taiwan

United Kingdom

Venezuela

1972 .......................................... 1973 .......................................... 1974 ..........................................

... ... ...

1 757 2 002 2 585

9 064 9 676 12 338

... ... ...

... ... ...

1 632 2 306 3 390

... ... 1 433

... ... ...

... ... ...

2 987 3 657 4 061

1 298 1 787 4 671

1975 1976 1977 1978 1979

.......................................... .......................................... .......................................... .......................................... ..........................................

... ... ... ... ...

2 397 2 530 3 037 4 102 4 918

11 268 15 504 18 550 24 458 26 248

... ... ... ... ...

... ... ... ... ...

3 059 3 598 4 694 6 094 8 800

1 083 1 080 1 477 1 603 1 852

... ... ... ... ...

... ... ... ... ...

3 784 4 254 5 141 6 514 8 028

3 624 3 574 4 084 3 545 5 166

1980 1981 1982 1983 1984

.......................................... .......................................... .......................................... .......................................... ..........................................

5 183 6 022 4 224 5 285 5 461

4 313 5 189 5 301 5 455 7 935

30 701 37 612 37 744 41 183 57 135

... ... ... ... ...

... ... ... ... ...

12 520 13 765 15 566 16 776 18 020

1 910 2 366 2 494 2 970 4 069

... ... ... ... ...

... ... ... ... ...

9 755 12 835 13 095 12 470 14 492

5 297 5 566 4 768 4 938 6 543

1985 1986 1987 1988 1989

.......................................... .......................................... .......................................... .......................................... ..........................................

4 569 3 312 3 394 3 150 3 529

9 674 10 607 11 040 11 576 11 933

68 783 81 911 84 575 89 519 93 586

10 031 12 729 16 987 20 105 19 742

... ... ... ... ...

19 132 17 302 20 271 23 260 27 162

4 081 4 066 3 964 4 559 4 810

4 260 4 725 6 201 7 973 8 950

16 396 19 791 24 622 24 714 24 326

14 937 15 396 17 341 17 976 18 319

6 537 5 097 5 579 5 157 6 771

1990 1991 1992 1993 1994

.......................................... .......................................... .......................................... .......................................... ..........................................

3 341 3 241 4 529 5 435 6 547

12 723 11 764 12 314 13 216 14 802

89 655 91 511 97 414 107 246 119 156

18 493 17 019 16 682 17 118 19 629

... 6 102 8 294 10 563 13 982

30 172 31 130 35 211 39 917 49 494

4 972 4 811 5 300 5 443 6 007

9 839 9 957 11 313 12 798 15 358

22 667 23 023 24 596 25 102 26 706

20 288 18 413 20 093 21 730 25 058

9 446 8 179 8 181 8 140 8 371

1995 1996 1997 1998 1999

.......................................... .......................................... .......................................... .......................................... ..........................................

7 435 8 250 9 188 9 341 9 525

16 348 18 325 19 408 20 959 22 357

123 479 115 187 121 663 121 845 130 864

24 184 22 655 23 173 23 942 31 179

17 455 17 829 18 027 19 000 21 424

61 684 74 297 85 938 94 629 109 721

6 405 6 583 7 293 7 599 8 475

18 560 20 343 20 075 18 356 18 191

28 972 29 907 32 629 33 125 35 204

26 930 28 979 32 659 34 838 39 237

9 721 13 173 13 477 9 181 11 335

2000 2001 2002 2003 2004

.......................................... .......................................... .......................................... .......................................... ..........................................

10 367 10 104 9 643 9 515 10 811

25 043 23 790 24 220 25 414 28 097

146 479 126 473 121 429 118 037 129 805

40 308 35 181 35 572 37 229 46 168

25 568 22 340 24 009 25 440 28 179

135 926 131 338 134 616 138 060 155 902

9 671 9 515 9 849 10 953 12 451

19 178 15 000 14 802 15 138 15 370

40 503 33 375 32 148 31 599 34 624

43 345 41 369 40 745 42 795 46 274

18 623 15 251 15 094 17 136 24 921

2001 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

957 763 918 764 859 856

2 084 1 946 2 173 1 928 2 044 1 981

11 143 11 380 12 076 11 562 9 606 9 969

3 514 2 811 3 125 2 824 2 758 2 861

1 869 1 746 1 932 1 736 1 704 2 066

10 706 10 297 12 045 10 481 11 431 11 438

835 725 860 831 880 777

1 499 1 306 1 373 1 290 1 280 1 187

3 069 2 553 3 167 2 893 2 782 2 817

3 857 3 547 3 634 3 685 3 567 3 327

1 678 1 324 1 475 1 410 1 339 1 401

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

939 926 771 899 771 682

2 253 2 105 1 448 2 133 1 857 1 837

10 318 10 219 9 457 11 187 10 288 9 269

2 844 2 754 2 782 3 159 3 010 2 740

1 849 1 895 1 771 2 118 1 941 1 714

10 578 11 565 10 687 11 909 10 873 9 329

734 745 690 889 775 774

1 205 1 203 1 066 1 289 1 288 1 015

2 805 2 827 2 561 2 890 2 586 2 426

3 550 3 172 2 747 3 919 3 476 2 889

1 329 1 300 992 1 160 965 878

2002 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

746 672 765 764 849 827

1 730 1 714 1 939 1 975 2 052 2 007

8 674 9 426 10 466 10 699 9 167 10 090

2 756 2 539 2 940 3 021 3 075 2 748

1 775 1 748 1 942 1 901 2 036 2 098

9 982 10 023 11 055 11 471 11 929 11 311

679 715 765 889 888 800

1 199 1 050 1 179 1 209 1 300 1 022

2 486 2 285 2 477 2 731 2 639 2 880

3 046 2 860 3 253 3 702 3 588 3 327

916 753 1 035 1 057 1 257 1 197

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

942 968 851 773 781 707

2 421 2 154 1 737 2 163 2 033 2 295

10 230 10 081 10 074 10 561 10 815 11 143

2 931 2 882 3 068 3 047 3 410 3 155

2 182 2 307 2 032 2 067 2 009 1 912

11 293 11 854 11 409 12 658 11 484 10 148

875 766 789 952 823 907

1 245 1 375 1 232 1 334 1 356 1 301

2 879 2 902 2 774 2 585 2 766 2 745

3 767 3 372 3 257 3 723 3 507 3 344

1 497 1 582 1 722 1 654 1 459 965

2003 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

728 715 810 855 793 761

2 003 1 808 2 291 2 118 2 054 2 109

9 110 9 441 10 435 10 333 9 106 9 739

2 861 2 643 2 897 3 342 2 751 3 070

1 891 1 651 1 936 2 041 1 990 2 169

10 831 10 958 11 783 11 155 11 495 11 420

883 849 959 951 825 935

1 421 1 106 1 231 1 333 1 285 1 365

2 717 2 204 2 494 2 574 2 571 2 622

3 003 3 493 3 729 3 515 3 559 3 525

400 690 1 458 1 648 1 581 1 533

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

868 797 799 949 767 673

2 487 2 169 1 779 2 105 2 157 2 334

10 129 9 089 9 442 10 787 10 187 10 241

3 241 2 776 3 023 3 674 3 397 3 555

2 331 2 223 2 297 2 435 2 228 2 249

11 125 11 403 11 817 12 966 11 693 11 417

955 878 917 1 011 941 849

1 239 1 065 1 346 1 342 1 124 1 281

2 720 2 709 2 815 2 758 2 602 2 812

3 711 3 171 3 647 4 136 3 430 3 876

1 539 1 706 1 620 1 648 1 539 1 773

2004 January ................................. February ................................ March .................................... April ....................................... May ....................................... June ......................................

774 763 932 869 853 992

2 003 2 092 2 484 2 295 2 181 2 559

9 172 10 238 11 792 11 230 9 841 11 038

3 365 3 086 3 742 3 652 4 040 4 090

2 112 1 894 2 224 2 277 2 133 2 387

11 201 11 709 13 594 12 576 13 050 13 850

853 929 1 035 976 959 1 034

1 148 1 140 1 274 1 249 1 289 1 329

2 615 2 294 2 820 2 810 2 851 3 075

3 203 3 495 4 234 4 168 3 891 3 960

1 765 1 706 2 058 1 956 2 117 2 187

July ........................................ August ................................... September ............................. October ................................. November .............................. December ..............................

1 075 949 1 009 950 892 753

2 547 2 442 2 167 2 292 2 380 2 656

11 045 10 651 10 510 11 440 11 636 11 212

3 829 3 803 4 393 4 096 4 317 3 757

2 393 2 586 2 612 2 685 2 391 2 485

12 213 13 279 13 521 14 475 13 909 12 526

1 020 1 110 1 030 1 256 1 156 1 092

1 410 1 373 1 378 1 405 1 219 1 158

2 975 3 109 3 014 3 040 3 066 2 953

3 760 3 456 3 496 4 062 4 196 4 355

2 022 2 323 1 929 2 519 2 275 2 065

. . . = Not available.

174

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-15. U.S. Exports of Services (Balance of payments basis, millions of dollars, seasonally adjusted.) Year and month

Total

Travel

Passenger fares

Other transportation

Royalties and license fees

Other private Transfers under services U.S. military (financial, sales contracts 1 professional, etc.)

U.S. government miscellaneous services

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

6 290 6 295 6 941 7 348 7 840

919 947 957 1 015 1 207

175 183 191 205 241

1 607 1 620 1 764 1 898 2 076

837 906 1 056 1 162 1 314

570 607 585 613 651

2 030 1 867 2 193 2 219 2 086

153 164 195 236 265

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

8 824 9 616 10 667 11 917 12 806

1 380 1 590 1 646 1 775 2 043

271 317 371 411 450

2 175 2 333 2 426 2 548 2 652

1 534 1 516 1 747 1 867 2 019

714 814 951 1 024 1 160

2 465 2 721 3 191 3 939 4 138

285 326 336 353 343

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

14 171 16 358 17 841 19 832 22 591

2 331 2 534 2 817 3 412 4 032

544 615 699 975 1 104

3 125 3 299 3 579 4 465 5 697

2 331 2 545 2 770 3 225 3 821

1 294 1 546 1 764 1 985 2 321

4 214 5 472 5 856 5 369 5 197

332 347 357 401 419

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

25 497 27 971 31 485 36 353 39 692

4 697 5 742 6 150 7 183 8 441

1 039 1 229 1 366 1 603 2 156

5 840 6 747 7 090 8 136 9 971

4 300 4 353 4 920 5 885 6 184

2 920 3 584 3 848 4 717 5 439

6 256 5 826 7 554 8 209 6 981

446 489 557 620 520

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

47 584 57 354 64 079 64 307 71 168

10 588 12 913 12 393 10 947 17 177

2 591 3 111 3 174 3 610 4 067

11 618 12 560 12 317 12 590 13 809

7 085 7 284 5 603 5 778 6 177

6 276 10 250 17 444 18 192 19 255

9 029 10 720 12 572 12 524 9 969

398 517 576 666 714

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

73 155 86 689 98 661 110 919 127 087

17 762 20 385 23 563 29 434 36 205

4 411 5 582 7 003 8 976 10 657

14 674 15 438 17 027 19 311 20 526

6 678 8 113 10 174 12 139 13 818

20 035 28 027 29 263 31 111 36 729

8 718 8 549 11 106 9 284 8 564

878 595 526 664 587

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

147 832 164 261 177 252 185 920 200 395

43 007 48 385 54 742 57 875 58 417

15 298 15 854 16 618 16 528 16 997

22 042 22 631 21 531 21 958 23 754

16 634 17 819 20 841 21 695 26 712

40 251 47 748 50 292 53 510 60 841

9 932 11 135 12 387 13 471 12 787

668 690 841 883 887

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

219 183 239 489 256 271 263 079 282 478

63 395 69 809 73 426 71 325 74 801

18 909 20 422 20 868 20 098 19 785

26 081 26 074 27 006 25 604 26 916

30 289 32 470 33 228 35 626 39 670

65 048 73 340 84 113 92 095 104 493

14 643 16 446 16 675 17 405 15 928

818 928 955 926 885

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

298 986 287 941 294 854 309 146 343 912

82 400 71 893 66 605 64 348 74 481

20 687 17 926 17 046 15 693 18 858

29 803 28 442 29 195 31 329 36 862

43 233 40 696 44 489 48 137 52 643

108 287 115 614 124 781 136 060 145 433

13 790 12 539 11 943 12 769 14 814

786 831 795 810 821

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

23 325 23 671 24 387 23 979 24 383 24 459

5 203 5 395 5 560 5 318 5 402 5 435

1 391 1 412 1 421 1 349 1 476 1 454

2 282 2 280 2 402 2 389 2 382 2 383

3 423 3 451 3 512 3 681 3 754 3 809

10 016 10 134 10 521 10 296 10 396 10 347

945 934 906 880 907 964

65 65 65 66 66 67

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

24 494 24 885 24 760 25 245 25 535 25 730

5 352 5 484 5 451 5 852 6 060 6 093

1 387 1 527 1 374 1 421 1 420 1 414

2 430 2 509 2 445 2 486 2 576 2 631

3 844 3 857 3 850 3 768 3 763 3 777

10 329 10 311 10 371 10 608 10 708 10 743

1 085 1 130 1 203 1 042 941 1 006

67 67 66 68 67 66

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

25 137 25 148 24 792 23 975 24 767 25 044

5 446 5 373 4 991 4 396 4 901 5 040

1 302 1 303 1 220 1 092 1 185 1 245

2 499 2 496 2 563 2 583 2 535 2 535

3 842 3 874 3 903 3 922 3 948 3 975

11 019 11 135 11 167 10 983 11 118 11 211

961 900 881 932 1 013 970

68 67 67 67 67 68

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

25 622 25 994 26 260 27 279 27 320 27 810

5 256 5 391 5 534 5 885 6 025 6 110

1 320 1 357 1 359 1 389 1 445 1 476

2 602 2 592 2 622 2 786 2 722 2 794

3 993 4 029 4 074 4 158 4 199 4 223

11 266 11 361 11 388 11 808 11 757 11 846

1 118 1 196 1 215 1 186 1 104 1 293

67 68 68 67 68 68

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

27 347 27 590 28 366 28 336 28 222 28 469

5 817 6 017 6 066 6 246 6 156 6 273

1 462 1 518 1 541 1 580 1 551 1 523

2 834 2 893 3 180 3 127 3 083 2 978

4 226 4 228 4 223 4 179 4 185 4 209

11 690 11 592 11 919 11 877 11 941 12 157

1 252 1 276 1 371 1 259 1 237 1 260

66 66 66 68 69 69

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

28 439 28 452 28 678 29 264 30 029 30 720

6 343 6 143 6 200 6 276 6 420 6 524

1 638 1 654 1 617 1 513 1 602 1 659

3 022 3 115 2 987 3 186 3 281 3 176

4 218 4 302 4 427 4 678 4 822 4 946

11 934 11 933 12 227 12 409 12 664 13 090

1 216 1 237 1 151 1 132 1 169 1 254

68 68 69 70 71 71

1Contains goods that cannot be separately identified.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

175

Table 7-16. U.S. Imports of Services (Balance of payments basis, millions of dollars, seasonally adjusted.) Year and month

Total

Travel

Passenger fares

Other transportation

Royalties and license fees

Other private services (financial, professional, etc.)

Direct defense expenditures 1

U.S. government miscellaneous services

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

7 674 7 671 8 092 8 362 8 619

1 750 1 785 1 939 2 114 2 211

513 506 567 612 642

1 402 1 437 1 558 1 701 1 817

74 89 100 112 127

593 588 528 493 527

3 087 2 998 3 105 2 961 2 880

254 268 296 370 415

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

9 111 10 494 11 863 12 302 13 322

2 438 2 657 3 207 3 030 3 373

717 753 829 885 1 080

1 951 2 161 2 157 2 367 2 455

135 140 166 186 221

461 506 565 668 751

2 952 3 764 4 378 4 535 4 856

457 513 561 631 586

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

14 520 15 400 16 868 18 843 21 379

3 980 4 373 5 042 5 526 5 980

1 215 1 290 1 596 1 790 2 095

2 843 3 130 3 520 4 694 5 942

224 241 294 385 346

827 956 1 043 1 180 1 262

4 855 4 819 4 784 4 629 5 032

576 592 589 640 722

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

21 996 24 570 27 640 32 189 36 689

6 417 6 856 7 451 8 475 9 413

2 263 2 568 2 748 2 896 3 184

5 708 6 852 7 972 9 124 10 906

472 482 504 671 831

1 551 2 006 2 190 2 573 2 822

4 795 4 895 5 823 7 352 8 294

789 911 951 1 099 1 239

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

41 491 45 503 51 749 54 973 67 748

10 397 11 479 12 394 13 149 22 913

3 607 4 487 4 772 6 003 5 735

11 790 12 474 11 710 12 222 14 843

724 650 795 943 1 168

2 909 3 562 8 159 8 001 9 040

10 851 11 564 12 460 13 087 12 516

1 214 1 287 1 460 1 568 1 534

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

72 862 80 147 90 787 98 526 102 479

24 558 25 913 29 310 32 114 33 416

6 444 6 505 7 283 7 729 8 249

15 643 17 766 19 010 20 891 22 172

1 170 1 401 1 857 2 601 2 528

10 203 13 146 16 485 17 667 18 930

13 108 13 730 14 950 15 604 15 313

1 735 1 686 1 893 1 921 1 871

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

117 659 118 459 119 447 123 664 132 943

37 349 35 322 38 552 40 713 43 782

10 531 10 012 10 603 11 410 13 062

24 966 24 975 23 767 24 524 26 019

3 135 4 035 5 161 5 032 5 852

22 229 25 590 25 267 27 645 31 451

17 531 16 409 13 835 12 086 10 217

1 919 2 116 2 263 2 255 2 560

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

141 278 152 431 166 345 181 260 199 715

44 916 48 078 52 051 56 483 58 963

14 663 15 809 18 138 19 971 21 315

27 034 27 403 28 959 30 363 34 139

6 919 7 837 9 161 11 235 13 107

35 080 39 556 43 567 48 174 56 035

10 043 11 061 11 707 12 185 13 335

2 623 2 687 2 762 2 849 2 821

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

224 916 223 445 233 737 256 664 296 105

64 705 60 200 58 715 57 444 65 635

24 274 22 633 19 969 20 957 23 701

41 425 38 682 38 407 44 705 54 169

16 468 16 538 19 335 19 390 23 901

61 688 67 675 75 290 85 741 95 666

13 473 14 835 19 101 25 296 29 299

2 883 2 882 2 920 3 131 3 734

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

18 751 19 220 18 606 18 735 18 935 19 616

4 816 4 877 4 850 4 691 4 777 5 042

1 652 1 635 1 587 1 574 1 595 1 705

2 977 2 953 2 926 3 194 3 192 3 162

1 444 1 988 1 453 1 469 1 500 1 791

6 184 6 068 6 067 6 053 6 086 6 097

1 433 1 451 1 475 1 511 1 544 1 578

245 248 248 243 241 241

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

19 586 19 409 19 787 19 986 20 267 20 843

4 864 4 625 5 000 4 873 5 034 5 266

1 652 1 597 1 580 1 889 1 698 1 805

3 282 3 269 3 201 3 246 3 444 3 565

1 665 1 689 1 677 1 580 1 548 1 530

6 260 6 334 6 407 6 479 6 587 6 669

1 622 1 653 1 680 1 677 1 713 1 764

241 242 242 242 243 244

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

20 716 20 545 20 789 20 272 20 411 20 886

5 007 4 825 4 661 4 146 4 331 4 512

1 715 1 672 1 620 1 583 1 603 1 689

3 556 3 459 3 776 3 788 3 603 3 698

1 530 1 531 1 537 1 550 1 571 1 597

6 807 6 898 6 979 6 934 6 988 7 040

1 850 1 907 1 961 2 015 2 057 2 090

251 253 255 256 258 260

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

21 663 21 748 21 874 22 323 22 414 23 022

4 810 4 979 4 849 5 003 5 036 5 285

1 846 1 875 1 791 1 853 1 894 1 816

3 872 3 630 3 792 3 800 3 699 4 032

1 649 1 673 1 690 1 671 1 681 1 710

7 140 7 203 7 307 7 432 7 486 7 526

2 084 2 125 2 180 2 300 2 349 2 378

262 263 265 264 269 275

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

23 462 23 567 23 676 23 925 24 384 24 773

5 366 5 343 5 177 5 332 5 568 5 591

1 899 1 914 1 927 1 883 1 950 2 049

4 242 4 266 4 406 4 343 4 339 4 476

1 777 1 805 1 825 1 881 1 913 1 937

7 544 7 581 7 652 7 736 7 834 7 922

2 347 2 364 2 388 2 446 2 470 2 483

287 294 301 304 310 315

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

24 725 25 544 24 990 25 406 25 775 25 878

5 601 5 463 5 539 5 528 5 503 5 624

2 010 1 960 1 926 2 042 2 052 2 089

4 422 4 559 4 633 4 735 4 958 4 790

1 929 2 718 1 944 2 040 2 063 2 069

7 962 8 040 8 148 8 296 8 430 8 521

2 479 2 479 2 475 2 448 2 452 2 468

322 325 325 317 317 317

1Contains goods that cannot be separately identified.

176

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 7-17. U.S. Export and Import Price Indexes by End-Use Category (2000 = 100, not seasonally adjusted.) Exports

Imports

Year and month All commodities

Agricultural

Nonagricultural

All commodities

Petroleum 1

Nonpetroleum

1989 ..................................................................................................

94.7

110.5

92.7

91.1

61.2

96.0

1990 .................................................................................................. 1991 .................................................................................................. 1992 .................................................................................................. 1993 .................................................................................................. 1994 ..................................................................................................

95.5 96.3 96.3 96.9 98.9

105.1 103.4 102.5 104.4 109.4

94.4 95.4 95.7 96.2 98.0

94.0 94.2 94.9 94.6 96.2

75.5 67.3 62.9 57.7 54.3

97.1 98.7 100.0 100.6 103.2

1995 .................................................................................................. 1996 .................................................................................................. 1997 .................................................................................................. 1998 .................................................................................................. 1999 ..................................................................................................

103.9 104.5 103.1 99.7 98.4

119.0 132.6 120.6 108.8 101.1

102.5 101.6 101.3 98.8 98.2

100.6 101.6 99.1 93.1 93.9

59.8 71.1 66.0 44.8 60.1

107.2 106.4 104.1 100.4 99.0

2000 .................................................................................................. 2001 .................................................................................................. 2002 .................................................................................................. 2003 .................................................................................................. 2004 ..................................................................................................

100.0 99.2 98.2 99.7 103.6

100.0 101.2 103.2 112.3 123.4

100.0 99.0 97.8 98.8 102.1

100.0 96.5 94.1 96.9 102.3

100.0 82.8 85.3 103.2 134.6

100.0 98.5 96.2 97.3 99.8

2000 January ......................................................................................... February ....................................................................................... March ............................................................................................ April .............................................................................................. May ............................................................................................... June ..............................................................................................

99.2 99.6 100.0 100.0 100.2 100.1

99.0 100.0 100.4 101.3 101.9 100.5

99.2 99.6 100.0 99.9 100.1 100.0

97.8 99.7 99.9 98.5 98.8 100.2

87.2 100.2 99.4 88.1 92.1 101.9

99.4 99.7 100.0 100.1 99.9 99.9

July ............................................................................................... August .......................................................................................... September .................................................................................... October ......................................................................................... November ..................................................................................... December .....................................................................................

100.0 99.8 100.4 100.3 100.3 100.1

98.3 96.3 99.4 99.9 100.9 102.0

100.2 100.1 100.5 100.3 100.2 99.9

100.2 100.4 101.6 101.2 101.2 100.5

100.4 101.3 111.8 108.7 109.8 99.0

100.2 100.3 100.0 100.0 99.9 100.7

2001 January ......................................................................................... February ....................................................................................... March ............................................................................................ April .............................................................................................. May ............................................................................................... June ..............................................................................................

100.3 100.2 100.0 99.9 99.6 99.4

102.5 101.0 101.3 100.8 100.8 100.9

100.1 100.1 99.9 99.8 99.5 99.3

100.5 99.9 98.3 97.8 98.0 97.6

93.1 93.3 87.2 86.2 90.3 89.4

101.6 100.8 100.0 99.5 99.2 98.9

July ............................................................................................... August .......................................................................................... September .................................................................................... October ......................................................................................... November ..................................................................................... December .....................................................................................

99.0 98.8 99.0 98.3 97.8 97.6

101.8 102.8 102.5 100.7 99.2 100.2

98.8 98.5 98.6 98.1 97.7 97.4

96.1 96.0 95.9 93.7 92.3 91.4

84.6 86.1 86.7 73.4 63.8 59.9

97.8 97.5 97.3 96.8 96.6 96.2

2002 January ......................................................................................... February ....................................................................................... March ............................................................................................ April .............................................................................................. May ............................................................................................... June ..............................................................................................

97.5 97.3 97.6 98.0 98.0 98.0

100.9 98.3 98.9 99.6 99.5 100.7

97.2 97.2 97.5 97.8 97.8 97.8

91.6 91.6 92.8 94.3 94.4 94.1

63.0 65.7 76.9 86.7 88.4 85.3

96.1 95.7 95.8 96.3 96.2 96.2

July ............................................................................................... August .......................................................................................... September .................................................................................... October ......................................................................................... November ..................................................................................... December .....................................................................................

98.3 98.5 98.8 98.7 98.8 98.6

103.4 105.2 108.6 106.6 108.7 108.2

97.9 97.9 98.0 98.1 98.0 97.8

94.5 94.8 95.5 95.5 94.6 95.2

88.5 91.8 97.1 97.0 89.0 94.0

96.2 96.3 96.4 96.4 96.3 96.5

2003 January ......................................................................................... February ....................................................................................... March ............................................................................................ April .............................................................................................. May ............................................................................................... June ..............................................................................................

98.9 99.5 99.7 99.6 99.7 99.5

108.3 107.9 107.5 107.9 110.6 110.0

98.2 98.8 99.1 99.0 98.8 98.7

96.9 98.5 99.1 96.0 95.3 96.2

107.7 119.9 118.6 96.3 91.5 96.4

96.8 97.1 98.1 97.1 96.9 97.3

July ............................................................................................... August .......................................................................................... September .................................................................................... October ......................................................................................... November ..................................................................................... December .....................................................................................

99.4 99.4 99.8 100.0 100.5 100.8

109.9 108.8 114.7 117.5 122.2 122.7

98.6 98.7 98.6 98.7 98.8 99.1

96.7 96.7 96.2 96.3 96.8 97.5

101.4 103.2 97.2 98.8 100.9 106.0

97.3 97.0 97.3 97.2 97.4 97.7

2004 January ......................................................................................... February ....................................................................................... March ............................................................................................ April .............................................................................................. May ............................................................................................... June ..............................................................................................

101.5 102.2 103.0 103.7 104.1 103.4

123.5 125.3 129.7 133.0 133.7 127.4

99.8 100.4 100.9 101.4 101.7 101.5

99.0 99.4 100.2 100.4 101.9 101.7

113.7 114.3 120.1 119.9 131.2 129.7

98.5 98.9 99.1 99.4 99.6 99.7

July ............................................................................................... August .......................................................................................... September .................................................................................... October ......................................................................................... November ..................................................................................... December .....................................................................................

103.9 103.4 103.8 104.4 104.7 104.8

126.1 115.5 117.6 116.3 116.7 115.4

102.2 102.5 102.8 103.6 103.9 104.1

102.1 103.6 104.1 105.8 105.5 104.0

132.7 144.4 149.2 165.8 155.9 138.1

99.7 100.0 100.1 100.0 100.9 101.3

1Petroleum

and petroleum products.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

NOTES AND DEFINITIONS This chapter presents data from two different data systems on international flows of goods, services, income payments, and financial transactions as they affect the U.S. economy. Tables 7-1 through 7-5 present data on the value, quantities, and prices of foreign transactions in the national income and product accounts (NIPAs). Tables 7-6 through 7-8 show foreign transactions and investment positions as depicted in the U.S. international transactions accounts (ITAs). Both sets of accounts are prepared by the Bureau of Economic Analysis (BEA), and draw on the same original source data. The source data are presented in greater detail in Tables 7-9 through 7-16. Table 7-17 shows selected summary values for export and import price indexes compiled by the Bureau of Labor Statistics (BLS). Due to certain differences in concept, scope, and definitions, the aggregate values of international transactions in the NIPAs (as shown in Tables 7-1 and 7-4) are not exactly equal to similar concepts in the ITAs, which are the source for the data in Tables 7-6 through 7-16. The principal sources of difference are as follows: • The NIPAs cover only the 50 states and the District of Columbia. The ITAs cover U.S. territories and Puerto Rico as well; • Differences in the treatment of gold; and • Differences in the treatment of services without payment by financial intermediaries except life insurance carriers (imputed interest). A reconciliation of the two sets of international accounts is published regularly as part of the NIPAs. It was most recently published in the July 2005 Survey of Current Business, p. D-68, Table 2. In addition, certain conventions of presentation differ between the two sets of international accounts. In the NIPAs (Tables 7-1 through 7-5) and in Census tables of exports and imports of goods and services (Tables 7-9 through 7-16), values of imports are shown as positive values. In the ITA balance of payments (Table 7-6), however, values of imports of goods and services and of all other transactions that result in a payment to the rest of the world—income payments to foreigners, net transfers to foreigners, and net acquisition of assets from abroad— are presented with a minus sign. TABLES 7-1 AND 7-4 FOREIGN TRANSACTIONS IN THE NATIONAL INCOME AND PRODUCT ACCOUNTS SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

See the notes and definitions to Chapter 1 for an overview of the national income and product accounts (NIPAs).

177

In the 2003 comprehensive revision, the NIPA foreign transactions account was split into two accounts—the current account and the capital account. (This change had already been made in the ITAs.) Most international transactions fall into the current account, but occasionally there are substantial flows in the capital account when major assets are transferred. An example of this is the U.S. government’s transfer of the Panama Canal to the Republic of Panama in 1999. Definitions In accordance with the split between current and capital account, there are now two NIPA measures of the balance of international transactions. The balance on current account, national income and product accounts is current receipts from the rest of the world minus current payments to the rest of the world. A negative value indicates that current payments exceed current receipts. Net lending or net borrowing (-), national income and product accounts is equal to the balance on current account less capital transfers to the rest of the world (net). Capital transfer payments to the rest of the world (net)—not shown separately in Table 7-1, but a similar measure is shown in the ITAs in Table 7-6—are cash or in-kind transfers linked to the acquisition or disposition of an existing asset. (In contrast, the current account is limited to flows associated with current production of goods and services.) Net lending or net borrowing provides an indirect measure of the net acquisition of foreign assets by U.S. residents less the net acquisition of U.S. assets by foreign residents. These asset flows are measured directly in the ITAs. See Table 7-6 and its notes and definitions for a more extensive discussion of the relationship between the balances on current and capital account and international asset flows. Current receipts from the rest of the world is exports of goods and services plus income receipts. Current payments to the rest of the world is imports of goods and services plus income payments plus current taxes and transfer payments (net). Exports and imports of goods and services. Goods, in general, are products that can be stored or inventoried. Services, in general, are products that cannot be stored and are consumed at the place and time of their purchase. Goods include expenditures abroad by U.S. residents, except for travel. Services include foreign travel by U.S. residents, expenditures in the United States by foreign travelers, and exports and imports of certain goods—primarily military equipment purchased and sold by the federal government. See the following paragraph for the definition of “travel.” Table 7-4 shows values for selected components of total goods and services; the components shown will not add

178

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

to the total because of omitted items. In the case of goods, a miscellaneous “other” category is not shown. In the case of services, only two components are shown in this table. One is travel, which does not include passenger fares but includes as exports spending by foreign tourists in the United States, and includes as imports all other spending abroad by tourists from the United States. The other component shown here is a category called “other private services,” which includes the professional and financial services (for example, computer services) that have accounted for a large part of the long-term growth in the service category. The remaining components of total services are transfers under U.S. military agency sales contracts; passenger fares; other transportation; royalties and license fees; and a miscellaneous, smaller “other” category. They are shown separately in Tables 7-15 and 7-16. Income receipts and payments. Income receipts—receipts from abroad of factor (labor or capital) income by U.S. residents—are analogous to exports, and are combined with them to yield total current receipts from the rest of the world. Income payments by U.S. entities of factor income to entities abroad are analogous to imports. Current taxes and transfer payments (net) consists of net payments between the U.S. and abroad that do not involve payment for the services of the labor or capital factors of production, purchase of currently-produced goods and services, or transfer of an existing asset. It includes net flows from persons, government, and business. The types of payments included are personal remittances from U.S. residents to the rest of the world, net of remittances from foreigners to U.S. residents; government grants; and transfer payments from businesses. Only the net payment to the rest of the world is shown. It is usually a positive net payment to foreigners, with transfers from the United States to abroad exceeding the reverse flow. An exception came in 1991, when U.S. allies in the Gulf War reimbursed the United States for the cost of the war. This resulted in net payments to the United States from the rest of the world and appears as a negative entry in the net transfer payments column as recorded in the NIPAs. TABLES 7-2, 7-3 AND 7-5 CHAIN-TYPE QUANTITY AND PRICE INDEXES FOR NIPA FOREIGN TRANSACTIONS These indexes represent the separation of the currentdollar values in Tables 7-1 and 7-4 into their real quantity and price components. See the notes and definitions to Chapter 1 for a general explanation of chained-dollar estimates of real output and prices. As those notes explain, quantity indexes are shown instead of constantdollar estimates because BEA no longer publishes its real output estimates before 1990 in any detail in the constant-dollar form. Therefore, quantity indexes are the only comprehensive source of information about longerterm trends in real volumes.

TABLES 7-6 AND 19-10 U.S. INTERNATIONAL TRANSACTIONS SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS.

OF

COMMERCE, BUREAU

OF

The U.S. international transactions accounts, or “balance of payments,” provide a comprehensive view of economic and financial transactions between the United States and foreign countries, measured in current dollars only (unlike the NIPAs, in which price and quantity trends are also estimated). Direct measurement of the values of asset flows further distinguishes this set of accounts from the NIPAs. The international transactions account (ITA) is subdivided into three sets of accounts, each comprising credit and debit items. In concept, all of these items together provide a complete accounting for U.S. international transactions and should therefore sum to zero. In practice, there are substantial discrepancies due to measurement problems. See the definitions below for an explanation of the “statistical discrepancy” in these accounts, which is different from the measure of the same name in the NIPAs. The balance on the “current account” is the most frequently quoted statistic from these accounts, and is often, but imprecisely, called the “trade balance.” (See the definitions below for the correct definitions of “trade balance” and “merchandise trade balance,” both of which differ from the current account balance.) The current account includes exports and imports of goods and of travel, transportation, and other services; receipts and payments of income between U.S. and foreign residents; and foreign aid and other current transfers. The “financial account” covers most international flows of private and official capital, including direct investment. A “capital account,” which is small relative to the other two accounts, includes certain transactions in existing assets. More detailed data on exports and imports of goods and services as measured in these accounts are shown in Tables 7-9 through 7-16. Definitions Unlike the practice in the NIPA accounts, each category of transaction in the ITAs is presented either as a “credit,” with an implicit plus sign, or as a “debit,” with a minus sign. The signs indicate the direction of ultimate impact on the overall balance. Credits (+): The following items are treated as credits in the international transactions accounts: exports of goods and services and income receipts; unilateral current transfers to the United States; capital account transactions receipts; and financial inflows, which are increases in foreign-owned assets (U.S. liabilities) and decreases in U.S.-owned assets (U.S. claims). Credits represent payments of funds to U.S. entities.

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

Debits (-): The following items are treated as debits in the international transactions accounts, indicated by minus signs in the data cells: imports of goods and services and income payments; unilateral current transfers to foreigners; capital accounts transactions payments; financial outflows, which are decreases in foreign-owned assets (U.S. liabilities) and increases in U.S.-owned assets (U.S. claims). Debits represent requirements for U.S. entities to make payments to foreigners. This convention of credits and debits is used only in the ITAs in Table 7-6 and the long-term flow data in Table 7-7 (see below). In Table 7-6, import values all have a negative sign. Import values are shown without negative signs both in the NIPA tables (Tables 7-1 and 7-4) and in the detailed tables from the Census on exports and imports of goods and services (Tables 7-9 through 7-16). The balance on goods is the excess of exports of goods over imports of goods—the algebraic sum of the two, in ITA transactions accounting. A minus sign indicates an excess of imports over exports. A very similar concept, which appears in monthly trade reports, is called the “merchandise trade balance.” The balance on services is the excess of service exports over service imports. A minus sign indicates an excess of imports over exports. The balance on goods and services is the sum of the balance on goods and the balance on services. This concept is accurately described as the “balance of trade.” The balance on income is the excess of income receipts from abroad over income payments to foreigners. A minus sign indicates an excess of payments over receipts. The balance on goods, services, and income is the excess of exports of goods, services, and income over imports of goods, services, and income. It is equal to the sum of the balance on goods and services and the balance on income. A minus sign indicates an excess of imports over exports. The balance on unilateral transfers is equal to unilateral transfers, net, or transfers to the United States minus transfers from the United States. This category includes U.S. government grants, pensions, and other transfers, and private remittances and other transfers. It includes an adjustment for the difference between actual and normal insured losses. See the entry below, in the notes for Tables 7-9 through 7-16, concerning the measurement of insurance services. The balance on current account is equal to the sum of the balance on goods, services, and income and the balance on unilateral transfers; it is the featured measure of the U.S. balance of payments. The capital account covers net capital transfers and the acquisition and disposal of nonproduced nonfinancial

179

assets. The major types of capital transfers are debt forgiveness and assets that accompany immigrants. Nonproduced nonfinancial assets include rights to natural resources, patents, copyrights, trademarks, franchises, and leases. The financial account includes all other inflows and outflows of capital, or changes in U.S.-owned assets abroad and foreign-owned assets in the United States, including official reserve assets, direct investment, securities, currency, and bank deposits. Direct investment financial flows are those associated with the acquisition of a significant interest (10 percent or more) in a business enterprise in one country by a resident of another country. Foreign official assets in the United States. U.S. Treasury securities consists of bills, certificates, marketable bonds and notes, and nonmarketable convertible and nonconvertible bonds and notes. Other U.S. government securities consists of U.S. Treasury and Export-Import Bank obligations, not included elsewhere, and of debt securities of U.S. government corporations and agencies. Other U.S. government liabilities primarily includes U.S. government liabilities to foreign official authorities associated with military agency sales contracts and other transactions arranged with or through foreign official agencies. Other foreign official assets consists of official investments in U.S. corporate stocks and in debt securities of private corporations and state and local governments. In concept, the balance on current account is necessarily offset exactly by the net financial and capital inflow or outflow. For example, a U.S. current account deficit results in more dollars held by foreigners, which must be reflected in additional claims on the United States held by foreigners, whether in the form of U.S. currency, securities, loans, or other forms of ownership or obligation. But because of different and incomplete data sources, the measured financial and capital accounts do not exactly offset the measured current account. The statistical discrepancy in the U.S. international accounts—the sum of all credits and debits, with the sign reversed—measures the amount by which the measured net financial and capital flow would have to be augmented (or diminished, in the case of a negative discrepancy) to exactly offset the current account balance. In the quarterly accounts, a part of this discrepancy, the seasonal adjustment discrepancy, results from separate seasonal adjustments of the components of the accounts. The statistical discrepancy in the international accounts is not the same as the statistical discrepancy in the national income and product accounts, which arises from measurement differences between domestic output and domestic income. Notes on the data Exports and imports of goods in the international transactions account excludes both exports of goods under

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U.S. military agency sales contracts identified in Census Bureau export documents and imports of goods under direct defense expenditures identified in import documents. They also reflect various other adjustments (for valuation, coverage, and timing) of Census Bureau statistics to a balance-of-payments basis. See Tables 7-10 and 7-11 and the associated notes and definitions for further information.

Revisions

Services includes some goods, mainly military equipment (included in transfers under military agency sales contracts); major equipment, other materials, supplies, and petroleum products purchased abroad by U.S. military agencies (included in direct defense expenditures abroad); and fuels purchased by airline and steamship operators (included in other transportation).

Quarterly and annual data are available. Data first are reported in a press release and subsequently published in an article in the Survey of Current Business, which can also be found on the BEA Web site at . Revisions to historical data are published annually. The most recent historical revisions appear in the July 2005 issue of Survey of Current Business. Complete historical data may be purchased on diskette from BEA. Historical data also are available on the BEA Web site.

U.S. government grants includes transfers of goods and services under U.S. military grant programs. The data for 1974 include extraordinary U.S. government transactions with India. Beginning in 1982, private remittances and other transfers includes taxes paid by U.S. private residents to foreign governments and taxes paid by private nonresidents to the U.S. government. At the present time, all U.S. Treasury-owned gold is held in the United States. Repayments on U.S. credits and other long-term assets includes sales of foreign obligations to foreigners. The data for 1974 include extraordinary U.S. government transactions with India, as described in “Special U.S. Government Transactions,” Survey of Current Business, June 1974, page 27. Beginning with the data for 1982, direct investment income payments and the reinvested earnings component of direct investment financial flows are measured on a current-cost (replacement-cost) basis after adjustment to reported depreciation, depletion, and expensed exploration and development costs. For prior years, depreciation is valued in terms of the historical cost of assets and reflects a mix of prices for the various years in which capital investments were made. See Survey of Current Business, July 1999, pages 65–67, and Survey of Current Business, June 1992, page 72ff. Estimates of U.S. currency flows abroad were introduced for the first time as part of the July 1997 revisions. Data for 1974 and subsequent years were affected (see Survey of Current Business, July 1997). Beginning with the 1998 revisions, currency flows are published separately from U.S. Treasury securities. For 1978–1983, U.S. Treasury securities includes foreigncurrency-denominated notes sold to private residents abroad.

The international transactions accounts are revised annually each July. Changes in definitions and methodology, and the incorporation of newly available source data, may be introduced in these revisions. Data availability

References Discussions of the impact of changes in methodology and incorporation of new data sources are found in the July issues (June for 1995 and earlier) of Survey of Current Business each year, the most recent being “Annual Revision of the U.S. International Accounts, 1991–2004” (July 2005). The Balance of Payments of the United States: Concepts, Data Sources, and Estimating Procedures (May 1990), available on the BEA Web site or from NTIS (Accession No. PB 90-268715), describes the methodology in detail and provides a list of data sources. TABLE 7-7 FOREIGNERS’ TRANSACTIONS IN LONG-TERM SECURITIES WITH U.S. RESIDENTS SOURCE: U.S. DEPARTMENT

OF THE

TREASURY

Some of the transactions that go into the ITA financial account, as described in the notes and definitions for Table 7-6, are collected monthly. Since December 2003, these transactions have been reported in a monthly press release by the Treasury Department. They are presented here in Business Statistics in a new table, Table 7-7. These data cover transactions in long-term securities, measured at market value plus or minus commissions and fees, between foreigners and U.S. residents. They have many reporting gaps compared with the more comprehensive quarterly current account data in Table 7-6. They do not include direct investment, stock swaps, currency flows, changes in bank accounts, or transactions in short-term securities. They may be distorted by inappropriate reporting of repurchases and securities lending transactions. The data are more timely but less detailed than other information sources and are not reliable for country-by-country detail. They are based on a reporting

CHAPTER 7: U.S. FOREIGN TRADE AND FINANCE

panel of some 250 banks, securities dealers, and other enterprises with cross-border transactions of at least $50 million. The survey was designed to provide timely information for the balance of payments accounts, and its use for other applications—particularly those involving country detail—is less appropriate. Definitions and notes on the data U.S. residents includes any individual, corporation, or organization located in the United States (including branches, subsidiaries, and affiliates of foreign entities located in the United States), and any corporation incorporated in the United States, even if it has no physical presence in the country. Gross purchases minus gross sales equals net purchases. As in the ITAs in Table 7-6, positive values for net purchases of U.S. securities by foreigners indicate capital inflows from foreigners to U.S. residents (and increased liabilities to foreigners on the part of the U.S. residents). Negative values for net purchases of foreign securities from U.S. residents indicate a capital outflow from the U.S. to foreigners (and increased liabilities to U.S. residents on the part of foreigners). The algebraic sum of the two net purchases components gives net long-term flows. When positive, this indicates that the net capital inflows on U.S. securities exceed the net U.S. acquisitions of foreign securities. Revisions The monthly and annual data are revised as frequently as quarterly and annual benchmark data become available. The June release usually includes the final results from an annual survey of foreign holding of U.S. securities. Data availability and references Data for the latest month and recent historical data are published in a press release available around the middle of the second following month. The press release, supporting descriptions, references, and other relevant information concerning the Treasury International Capital System (TIC) are found at . TABLE 7-8 INTERNATIONAL INVESTMENT POSITION OF THE UNITED STATES SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

The data presented in Tables 7-1 through 7-7 all represent flows of goods, services, and money over the designated time periods. Table 7-8, in contrast, is a measure of stocks, or total holdings of money and other claims. The data on the international investment position of the United States measure the extent to which the United States and its residents hold claims of ownership on foreigners or are creditors of foreigners; the extent to which foreigners, includ-

181

ing foreign governments, hold claims of ownership on assets located in the United States or are creditors of U.S. residents and entities; and the net difference between the two amounts. This difference measures the amount by which the United States is a net creditor of the rest of the world or a net debtor to the rest of the world. A position of net U.S. indebtedness is represented by a minus sign in the net international investment position. Changes in the net investment position can arise in two principal ways. The first way is through inflows or outflows of capital. A net inflow of capital increases U.S. indebtedness to foreigners, while a net outflow increases foreigners’ indebtedness to the United States. A deficit in the U.S. international current account requires an equivalent inflow of foreign capital, while a surplus would require an equivalent outflow of U.S. capital; see notes for Table 7-6. The second way is through valuation adjustments, which are of several kinds: changes in market prices of assets; changes in exchange rates, which can cause revaluation of foreign-currency-denominated assets; and miscellaneous other adjustments due to changes in coverage, statistical discrepancies, and the like. Definitions Direct investment occurs when an individual or business in one country (the parent) obtains a lasting interest in, and a degree of influence over the management of, a business enterprise in another country (the affiliate). The U.S. data define this degree of interest to be ownership of at least 10 percent of the voting securities of an incorporated business enterprise or the equivalent interest in an unincorporated business enterprise. When direct investment positions are valued at the historical costs carried on the books of the affiliated companies, much of the investment will reflect the price levels of earlier time periods. Therefore, before calculating the overall U.S. position, BEA re-estimates the aggregate direct investment totals using two alternative valuation bases. Detailed direct investment data by country and industry are available only on a historical cost basis. At current cost, the portion of the direct investment position representing parents’ shares of their affiliates’ tangible assets (property, plant, equipment, and inventories) is revalued to replacement cost in today’s money, using a perpetual inventory model, appropriate price indexes, and appropriate depreciation allowances. (The same methodology is used for the U.S. stock of fixed assets; see the notes and definitions to Tables 5-5 and 5-6.) This is an adjustment made to the asset side of the balance sheet and reflects prices of tangible assets only. The market value method revalues the owners’ equity portion of the direct investment positions using general country indexes of stock market prices. This adjustment is made on the liability and owner’s equity side of the balance sheet. Stock price changes reflect changes not only

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in the value of tangible assets, but also in the value of intangible assets and in the outlook for a country or industry. Market values are more volatile than current cost, reflecting the nature of stock markets. Typically, the total market value of direct investment is greater than the current replacement cost, though by varying proportions. However, in a few years, such as 1982 through 1984, aggregate market values fell below the estimated replacement cost. U.S. official reserve assets includes gold, valued at the current market price; special drawing rights; the U.S. reserve position in the International Monetary Fund; and official holdings of foreign currencies. Other U.S. government assets includes other U.S. government claims on foreigners and holdings of foreign currency and short-term assets. U.S. nonbank claims includes U.S. claims on affiliated foreigners reported by U.S. nonbanking concerns. U.S. bank claims consists of claims on foreigners, such as loans and commercial paper, held by U.S. banks and not reported elsewhere in the accounts. Foreign official assets includes foreign government holdings of claims on the United States, including U.S. government securities and other liabilities and deposits held by such governments in U.S. banks. Foreign-owned assets in the United States, other than official assets, also include U.S. Treasury securities, U.S. currency, corporate and other bonds, corporate stocks, U.S. liabilities (to foreigners) reported by U.S. nonbanking concerns, and U.S. bank liabilities (such as deposits) to foreigners.

TABLES 7-9 THROUGH 7-16 EXPORTS AND IMPORTS OF GOODS AND SERVICES SOURCES: U.S. DEPARTMENT OF COMMERCE, BUREAU CENSUS AND BUREAU OF ECONOMIC ANALYSIS (BEA)

OF THE

These tables present the source data used to build up the aggregate measures of goods and services flows shown in Tables 7-1 through 7-6. These data are compiled and published monthly, making trends evident before the publication of the quarterly aggregate estimates. They also provide more detail than the quarterly aggregates. Monthly and annual data on exports and imports of goods are compiled by the Bureau of the Census from documents collected by the U.S. Customs Service. BEA makes certain adjustments to these data (as described below) to place the estimates on a “balance of payments” basis—a basis consistent with the national and international accounts. Data on exports and imports of services are prepared by BEA from a variety of sources. Monthly data on services are available from January 1992. Annual and quarterly data for earlier years are available as part of the international transactions accounts. Current data on goods and services are available each month in a joint Census-BEA press release. In the case of some of the detailed breakdowns of exports and imports—such as by end-use categories— monthly data may not sum exactly to annual totals. This is due to later revisions, made only to annual data and not allocated to monthly data. Also, the constant-dollar figures expressed in 2000 dollars are now calculated using chain weights; in general, the 2000-dollar detail will not add to the 2000-dollar totals.

The annual (year-end) data are presented each year, along with revisions for earlier years and a descriptive article, in the July issue of the Survey of Current Business. The articles and the data are available on the BEA Web site at .

In addition, monthly and annual data on exports and imports of goods for individual countries and various country groupings do not reflect subsequent revisions of annual total data. These country data are compiled by the Census Bureau for all countries, although only a selection of the most significant ones is shown here. The full set of data can be accessed on the Census Web site at .

References

Definitions: Goods

Relevant articles in the July 2005 Survey of Current Business are: “The International Investment Position of the United States at Yearend 2004” and “Direct Investment Positions for 2004: Country and Industry Detail.” For background on the valuation of direct investment and other components, see “Valuation of the U.S. Net International Investment Position,” Survey of Current Business, May 1991. Also see the references for Table 7-6.

Goods: Census basis. The Census basis goods data are compiled from documents collected by the U.S. Customs Service. They reflect the movement of goods between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and U.S. Foreign Trade Zones. They include government and nongovernment shipments of goods, and exclude shipments between the United States and its territories and possessions; transactions with U.S. military, diplomatic, and con-

Data availability

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sular installations abroad; U.S. goods returned to the United States by its armed forces; personal and household effects of travelers; and in-transit shipments. The general import values reflect the total arrival of merchandise from foreign countries that immediately enters consumption channels, warehouses, or Foreign Trade Zones. For imports, the value reported is the U.S. Customs Service appraised value of merchandise (generally, the price paid for merchandise for export to the United States). Import duties, freight, insurance, and other charges incurred in bringing merchandise to the United States are excluded. Exports are valued at the f.a.s. (free alongside ship) value of merchandise at the U.S. port of export, based on the transaction price including inland freight, insurance, and other charges incurred in placing the merchandise alongside the carrier at the U.S. port of exportation. Goods: Balance of payments (BOP) basis. Goods on a Census basis are adjusted by the BEA to goods on a BOP basis to bring the data in line with the concepts and definitions used to prepare the international and national accounts. Broadly, the adjustments include changes in ownership that occur without goods passing into or out of the customs territory of the United States. These adjustments are necessary to supplement coverage of the Census basis data, to eliminate duplication of transactions recorded elsewhere in the international accounts, and to value transactions according to a standard definition. The export adjustments include: (1) Deduction of U.S. military sales contracts. The Census Bureau has included these contracts in the goods data, but BEA includes them in the service category “Transfers Under U.S. Military Sales Contracts.” BEA’s source material for these contracts is more comprehensive, but does not distinguish between goods and services. (2) Addition of private gift parcels mailed to foreigners by individuals through the U.S. Postal Service. Only commercial shipments are covered in Census goods exports. (3) Addition to nonmonetary gold exports of gold purchased by foreign official agencies from private dealers in the United States and held at the Federal Reserve Bank of New York. The Census data include only gold that leaves the customs territory. (4) Smaller adjustments includes deductions for repairs of goods, exposed motion picture film, and military grant aid, and additions for sales of fish in U.S. territorial waters, exports of electricity to Mexico, and vessels and oil rigs that change ownership without export documents being filed. The import adjustments include: (1) On inland freight in Canada, the customs value for imports for certain Canadian goods is the point of origin in Canada. The BEA makes an addition for the inland freight charges of transporting these Canadian goods to the U.S. border. (2) An addition is made to nonmonetary gold imports for gold sold by foreign official agencies to private pur-

183

chasers out of stock held at the Federal Reserve Bank of New York. The Census Bureau data include only gold that enters the customs territory. (3) A deduction is made for imports by U.S. military agencies. The Census Bureau has included these contracts in the goods data, but BEA includes them in the service category “Direct Defense Expenditures.” BEA’s source material is more comprehensive, but does not distinguish between goods and services. (4) Smaller adjustments includes deductions for repairs of goods and for exposed motion picture film, and additions for imported electricity from Mexico, conversion of vessels for commercial use, and repairs to U.S. vessels abroad. Definitions: Services The statistics are estimates of service transactions between foreign countries and the 50 states, the District of Columbia, Puerto Rico, the U.S. Virgin Islands, and other U.S. territories and possessions. Transactions with U.S. military, diplomatic, and consular installations abroad are excluded because they are considered to be part of the U.S. economy. Services are shown in the broad categories described below. For six of these, the categories are the same for imports and exports. For the seventh, the export category is “Transfers under U.S. Military Sales Contracts,” while for imports, the category is “Direct Defense Expenditures.” Travel includes purchases of services and goods by U.S. travelers abroad and by foreign visitors to the United States. A traveler is defined as a person who stays for a period of less than one year in a country where the person is not a resident. Included are expenditures for food, lodging, recreation, gifts, and other items incidental to a foreign visit. Not included are the international costs of the travel itself, which are covered in passenger fares (see below). Passenger fares consists of fares paid by residents of one country to residents in other countries. Receipts consist of fares received by U.S. carriers from foreign residents for travel between the United States and foreign countries and between two foreign points. Payments consist of fares paid by U.S. residents to foreign carriers for travel between the United States and foreign countries. Break in series: travel and passenger fares. Beginning with data for 1984, these items incorporate results from a survey administered by the U.S. Travel and Tourism Administration. See Survey of Current Business, June 1989, page 57ff. Other transportation includes charges for the transportation of goods by ocean, air, waterway, pipeline, and rail carriers to and from the United States. Included are freight charges, operating expenses that transportation companies incur in foreign ports, and payments for vessel charter and aircraft and freight car rentals. (Break in series: Estimates of freight charges for the transportation of goods by truck between the United States and Canada

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are included in the data beginning with 1986. Reliable estimates for earlier years are not available. See Survey of Current Business, June 1994, pages 70ff.) Royalties and license fees consists of transactions with foreign residents involving intangible assets and proprietary rights, such as the use of patents, techniques, processes, formulas, designs, know-how, trademarks, copyrights, franchises, and manufacturing rights. The term “royalties” generally refers to payments for the utilization of copyrights or trademarks, and “license fees” generally refers to payments for the use of patents or industrial processes. Other private services includes transactions with “affiliated” foreigners for which no identification by type is available and transactions with unaffiliated foreigners. The term “affiliated” refers to a direct investment relationship, which exists when a U.S. person has ownership or control (directly or indirectly) of 10 percent or more of a foreign business enterprise, or when a foreign person has a similar interest in a U.S. enterprise. Transactions with “unaffiliated” foreigners in this “other private services” category consist of education services; financial services; insurance services; telecommunications services; and business, professional, and technical services. Included in the last group are advertising services; computer and data processing services; database and other information services; research, development, and testing services; management, consulting, and public relations services; legal services; construction, engineering, architectural, and mining services; industrial engineering services; installation, maintenance, and repair of equipment; and other services, including medical services and film and tape rental.

ness, professional, and technical services). Beginning with data for 1986, other private services includes estimates of business, professional, and technical services from the BEA surveys of selected services. (See Survey of Current Business, June 1989, page 57ff.) Breaks in series: royalties and license fees and other private services. These items are presented on a gross basis beginning in 1982. The definition of exports is revised to exclude U.S. parents’ payments to foreign affiliates and to include U.S. affiliates’ receipts from foreign parents. The definition of imports is revised to include U.S. parents’ payments to foreign affiliates and to exclude U.S. affiliates’ receipts from foreign parents. Transfers under U.S. military sales contracts (exports only) includes exports of goods and services in which U.S. government military agencies participate. Also included are both goods, such as equipment, and services, such as repair services and training, that cannot be separately identified. Transfers of goods and services under U.S. military grant programs are included. Direct defense expenditures (imports only) consists of expenditures incurred by U.S. military agencies abroad, including expenditures by U.S. personnel, payments of wages to foreign residents, construction expenditures, payments for foreign contractual services, and procurement of foreign goods. Included are both goods and services that cannot be separately identified. U.S. government miscellaneous services includes transactions of U.S. government nonmilitary agencies with foreign residents. Most of these transactions involve the provision of services to, or purchases of services from, foreigners; transfers of some goods are also included. Services estimates are based on quarterly, annual, and benchmark surveys and partial information generated from monthly reports. Service transactions are estimated at market prices. Estimates are seasonally adjusted when statistically significant seasonal patterns are present.

The insurance component of other private services was previously measured as premiums less actual losses paid or recovered. Furthermore, catastrophic losses were entered immediately when the loss occurred, rather than when the insurance claim was actually paid out. This led to sharp swings in any month where catastrophic losses occurred, such as a large hurricane or the terrorist attacks in September 2001. In the accounts, as revised in July 2003 and presented here, insurance services are now measured as premiums less “normal” losses. Normal losses consist of a measure of expected regularly occurring losses based on six years of past experience plus an additional allowance for catastrophic loss. Catastrophic losses, when they occur, are added in equal increments to the estimate of regularly occurring losses over the 20 years following the occurrence. As adoption of this methodology introduces a difference between actual and normal losses, an amount equal to the difference is entered in the international accounts as a current unilateral transfer.

European Union includes Austria, Belgium, Denmark, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the Netherlands, Portugal, Spain, Sweden, and the United Kingdom. On May 1, 2004, the European Union expanded from 15 countries to 25. The data shown here for 1974 through 2004 cover the original 15 countries. In 2004, U.S. exports to the expanded 25-country EU totaled $172,622 million and imports from the 25-country EU totaled $281,959 million. The 10 countries added are Cyprus, Czech Republic, Estonia, Hungary, Latvia, Lithuania, Malta, Poland, Slovakia, and Slovenia. Beginning in 2005, EU data will cover the full 25-nation group.

BEA conducts surveys of international transactions in financial services and “selected services” (largely busi-

Euro area includes Austria, Belgium, Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the

Definitions: Area groupings

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Netherlands, Portugal, and Spain. Greece entered the Euro area beginning in January 2001. The country is included in the data for 2001 and later years but not in the data for 2000. Asian Newly Industrialized Countries (NICS) includes Hong Kong SAR, South Korea, Singapore, and Taiwan. Organization of Petroleum Exporting Countries (OPEC) consists of Algeria, Gabon, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates, and Venezuela. Notes on the data U.S./Canada data exchange and substitution. The data for U.S. exports to Canada are derived from import data compiled by Canada. The use of Canada’s import data to produce U.S. export data requires several alignments in order to compare the two series. • Coverage: Canadian imports are based on country of origin. U.S. goods shipped from a third country are included. U.S. exports exclude these foreign shipments. U.S. export coverage also excludes certain Canadian postal shipments. • Valuation: Canadian imports are valued at point of origin in the United States. However, U.S. exports are valued at the port of exit in the United States and include inland freight charges, making the U.S. export value slightly larger. Canada requires inland freight to be reported. • Reexports: U.S. exports include reexports of foreign goods. Again, the aggregate U.S. export figure is slightly larger. • Exchange rate: Average monthly exchange rates are applied to convert the published data to U.S. currency. End-use categories and seasonal adjustment of trade in goods. Goods are initially classified under the Harmonized System, which describes and measures the characteristics of goods traded. Combining trade into approximately 140 export and 140 import end-use categories makes it possible to examine goods according to their principal uses. These categories are used as the basis for computing the seasonal and working-day adjusted data. These adjusted data are then summed to the six end-use aggregates for publication.

185

month to which the data pertain. The data on trade in goods by end-use category (BOP basis) and trade in services are subsequently published each month in Survey of Current Business. Additional data and information on goods is obtainable from the Foreign Trade Division, Bureau of the Census, Washington, DC 20233. Additional data and information on services is obtainable from the Balance of Payments Division, Bureau of Economic Analysis, Washington, DC 20230. Current releases and some historical data are available on the Bureau of the Census Web site at . Revisions Data for recent years are normally revised annually. In some cases, revisions to annual totals are not distributed to monthly data; therefore, monthly data may not sum to the revised total shown. Data on trade in services may be subject to extensive revision as part of BEA’s annual revision of the international transactions accounts, usually released in July. References Discussion of the impact of changes in methodology and incorporation of new data sources are found in discussions of annual revisions of the international transactions accounts in the July issue of BEA’s Survey of Current Business. The most recent pertinent article is “Annual Revision of the U.S. International Accounts, 1991–2004” (July 2005). TABLE 7-17 EXPORT AND IMPORT PRICE INDEXES SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

The BLS International Price Program produces monthly and quarterly export and import price indexes for nonmilitary goods traded between the United States and the rest of the world. It also includes some services. Definitions The export price index provides a measure of price change for all goods sold by U.S. residents (businesses and individuals located within the geographic boundaries of the United States, whether or not owned by U.S. citizens) to foreign buyers.

The seasonal adjustment procedure is based on a model that estimates the monthly movements as percentages above or below the general level of each end-use commodity series (unlike other methods that redistribute the actual series values over the calendar year). Imports of petroleum and petroleum products are adjusted for the length of the month.

The import price index provides a measure of price change for goods purchased from other countries by U.S. residents.

Data availability

Notes on the data

Data are released in a monthly joint Census-BEA press release (FT-900) about six weeks after the end of the

Published index series use a base year of 2000 = 100 where possible.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

The product universe for both the import and export indexes includes raw materials, agricultural products, and manufactures. Price data are collected primarily by mail questionnaire, in all but a few cases directly from the exporter or importer. To the extent possible, the data refer to prices at the U.S. border for exports and at either the foreign border or the U.S. border for imports. For nearly all products, the prices refer to transactions completed during the first week of the month and represent the actual price for which the product was bought or sold, including discounts, allowances, and rebates. For the export price indexes, the preferred pricing basis is f.a.s. (free alongside ship) U.S. port of exportation. Where necessary, adjustments are made to reported prices to place them on this basis. An attempt is made to collect two prices for imports: f.o.b. (free on board) at the port of exportation and c.i.f. (cost, insurance, and freight) at the U.S. port of importation. Adjustments are made to account for changes in product characteristics in order to obtain a pure measure of price change. The indexes are weighted indexes of the Laspeyres type. The values assigned to each weight category are based on trade value figures compiled by the Bureau of the Census. They are reweighted annually, with a two-year lag (as concurrent value data are not available). The merchandise price indexes are published using three different classification systems: the Harmonized System, the Bureau of Economic Analysis End Use System, and

the Standard International Trade Classification (SITC) system. The aggregate indexes shown here are from the End Use System. Not shown in this volume are price indexes beginning in 1991 for selected services categories, mainly ship freight and air freight and passenger fares. For services price data, expanded product detail on goods using the SITC, and import price indexes by locality of origin, see Bernan Press, Handbook of U.S. Labor Statistics. Data availability Indexes are published monthly in a press release and a more detailed report. Selected data subsequently are published in the Monthly Labor Review. Indexes are published for detailed product categories, as well as for all commodities. Aggregate import indexes by country or region of origin also are available, as are indexes for selected categories of internationally traded services. Additional information is available from the Division of International Prices, Bureau of Labor Statistics. Complete historical data are available on the BLS Web site at . References The indexes are described in “BLS to Produce Monthly Indexes of Export and Import Prices,” Monthly Labor Review (December 1988), and Chapter 15, “International Price Indexes,” BLS Handbook of Methods Bulletin 2490 (April 1997).

CHAPTER 8: PRICES

Figure 8-1. Inflation Indicators, 1946–2004 (year to year percent change in price index) 16 Consumer Price Index (CPI-U)

14

Percent change

12

Chain-type Price Index, PCE excluding food and energy

10 8 6 4 2 0 -2 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• The Consumer Price Index for all urban consumers (CPI-U) is the most widely used measure of the general price level, and percent changes in the CPI-U are the most widely used measures of inflation. Annual rates of change in the CPI-U from 1946 through 2004 are shown in Figure 8-1 above. This price index is not retroactively revised when improved concepts are developed or new data incorporated. (Table 8-1) • Economists also are interested in an “underlying rate of inflation,” free of the volatile, short-term, and often supply-determined fluctuations of food and energy prices. Figure 8-1 shows inflation measured by the chain-type price index for personal consumption expenditures (PCE), excluding food and energy. The PCE price indexes also incorporate improved data and methodology compared with the official CPI. For the period 1978–2004, the total official CPI-U indicates an average inflation rate of 4.2 percent per year, while the PCE excluding food and energy increases at an average note of 3.6 percent per year. (Tables 8-2 and 8-3) • All the price indexes, however, tell the same basic history. Prices rose sharply when World War II controls were lifted and again when the Korean War broke out. In the following periods of economic slack—1949, 1955, and 1959–1961—prices reverted to near-stability. This was not true following the more sustained rises in inflation in the 1960s and 1970s; in each of those cases, the subsequent recession left inflation significantly higher than before. Only after the inflation of the late 1970s and early 1980s, and the subsequent severe recession with its high rates of unemployment and low rates of capacity utilization (see Tables 10-3 and 2-3), has inflation subsided to levels comparable with the early postwar period. (Tables 8-1 and 8-3) • From 1946 to 2004, commodity prices in the CPI-U rose an average 3.3 percent per year, but service prices increased at an annual rate of 4.9 percent. (Table 8-1) • The Producer Price Index (PPI) measures prices at the point of production, rather than at the consumer level. The most widely used product of the PPI system—the PPI for Finished Goods—only covers commodities, whereas the CPI covers both commodities and services. For these reasons, the PPI for finished goods fluctuates more (both up and down) than the aggregate CPI-U, but has a less inflationary trend. (Table 8-4) • The PPI data set also includes prices for intermediate materials, supplies, and components and crude materials for further processing. Intermediate materials prices fluctuate more than those of finished goods, and crude materials prices fluctuate most of all. (Table 8-4)

187

188

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-1. Consumer Price Indexes (All urban consumers; 1982–1984 = 100; seasonally adjusted, except as noted.) All items

Food and beverages

Seasonally adjusted Year and month

Not seasonally adjusted

Index

Percent change

Food at home Total

Total food Total

Cereals and bakery products

Meats, poultry, fish, and eggs

Food Alcoholic Dairy and Fruits and Nonfrom beverages food away related vegealcoholic Other home at home products tables beverages

1946 1947 1948 1949

................................. ................................. ................................. .................................

19.5 22.3 24.1 23.8

19.5 22.3 24.1 23.8

8.3 14.4 8.1 -1.2

... ... ... ...

19.8 24.1 26.1 25.0

... 25.8 28.0 26.9

16.4 20.4 22.4 22.3

... ... ... ...

26.0 29.3 32.2 29.4

20.4 22.4 23.0 23.3

... 12.0 13.1 14.2

... ... ... ...

... ... ... ...

... ... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

24.1 26.0 26.5 26.7 26.9

24.1 26.0 26.5 26.7 26.9

1.3 7.9 1.9 0.8 0.7

... ... ... ... ...

25.4 28.2 28.7 28.3 28.2

27.3 30.3 30.8 30.3 30.1

22.6 24.7 25.3 25.8 26.4

... ... ... ... ...

29.0 32.4 33.8 33.2 32.1

22.4 24.4 26.9 26.0 25.6

20.0 22.1 22.2 22.8 27.1

... ... ... ... ...

... ... ... 21.5 21.9

... ... ... 39.6 40.6

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

26.8 27.2 28.1 28.9 29.1

26.8 27.2 28.1 28.9 29.1

-0.4 1.5 3.3 2.8 0.7

... ... ... ... ...

27.8 28.0 28.9 30.2 29.7

29.5 29.6 30.6 32.0 31.2

26.8 27.2 28.3 28.8 29.1

... ... ... ... ...

32.1 32.9 33.9 34.4 34.6

26.0 27.3 27.2 29.1 28.7

24.3 25.4 25.2 23.4 21.3

... ... ... ... ...

22.1 22.6 23.4 24.1 24.8

40.5 41.0 42.1 42.0 42.4

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

29.6 29.9 30.2 30.6 31.0

29.6 29.9 30.2 30.6 31.0

1.7 1.0 1.0 1.3 1.3

... ... ... ... ...

30.0 30.4 30.6 31.1 31.5

31.5 31.8 32.0 32.4 32.7

29.7 30.3 30.9 31.4 31.5

... ... ... ... ...

35.4 35.9 35.7 35.6 35.9

29.4 29.5 29.8 31.5 32.7

21.1 21.1 20.8 21.1 23.6

... ... ... ... ...

25.4 26.0 26.7 27.3 27.8

43.1 43.3 43.4 43.8 44.2

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

31.5 32.4 33.4 34.8 36.7

31.5 32.4 33.4 34.8 36.7

1.6 2.9 3.1 4.2 5.5

... ... 35.0 36.2 38.1

32.2 33.8 34.1 35.3 37.1

33.5 35.2 35.1 36.3 38.0

31.9 33.3 34.0 34.2 35.2

... ... 38.0 39.1 42.6

36.0 38.3 40.0 41.3 42.7

32.6 33.3 33.3 35.9 36.4

23.4 23.3 23.1 23.5 24.2

... ... 29.3 29.8 30.7

28.4 29.7 31.3 32.9 34.9

44.6 45.4 46.4 48.0 49.7

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

38.8 40.5 41.8 44.4 49.3

38.8 40.5 41.8 44.4 49.3

5.7 4.4 3.2 6.2 11.0

40.1 41.4 43.1 48.8 55.5

39.2 40.4 42.1 48.2 55.1

39.9 40.9 42.7 49.7 57.1

37.1 38.8 39.0 43.5 56.5

44.6 44.1 48.0 60.9 62.2

44.7 46.1 46.8 51.2 60.7

37.8 39.7 41.6 47.4 55.2

27.1 28.1 28.0 30.1 35.9

32.9 34.3 34.6 36.7 47.8

37.5 39.4 41.0 44.2 49.8

52.1 54.2 55.4 56.8 61.1

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

53.8 56.9 60.6 65.2 72.6

53.8 56.9 60.6 65.2 72.6

9.1 5.8 6.5 7.6 11.3

60.2 62.1 65.8 72.2 79.9

59.8 61.6 65.5 72.0 79.9

61.8 63.1 66.8 73.8 81.8

62.9 61.5 62.5 68.1 74.9

67.0 68.0 67.4 77.6 89.0

62.6 67.7 69.5 74.2 82.8

56.9 58.4 63.8 70.9 76.6

41.3 49.4 74.4 78.7 82.6

55.4 56.4 68.4 73.6 79.0

54.5 58.2 62.6 68.3 75.9

65.9 68.1 70.0 74.1 79.9

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

82.4 90.9 96.5 99.6 103.9

82.4 90.9 96.5 99.6 103.9

13.5 10.3 6.2 3.2 4.3

86.7 93.5 97.3 99.5 103.2

86.8 93.6 97.4 99.4 103.2

88.4 94.8 98.1 99.1 102.8

83.9 92.3 96.5 99.6 103.9

92.0 96.0 99.6 99.2 101.3

90.9 97.4 98.8 100.0 101.3

82.1 92.0 97.0 97.3 105.7

91.4 95.3 97.9 99.8 102.3

88.4 94.9 97.3 99.5 103.1

83.4 90.9 95.8 100.0 104.2

86.4 92.5 96.7 100.4 103.0

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

107.6 109.6 113.6 118.3 124.0

107.6 109.6 113.6 118.3 124.0

3.6 1.9 3.6 4.1 4.8

105.6 109.1 113.5 118.2 124.9

105.6 109.0 113.5 118.2 125.1

104.3 107.3 111.9 116.6 124.2

107.9 110.9 114.8 122.1 132.4

100.1 104.5 110.5 114.3 121.3

103.2 103.3 105.9 108.4 115.6

108.4 109.4 119.1 128.1 138.0

104.3 110.4 107.5 107.5 111.3

105.7 109.4 110.5 113.1 119.1

108.3 112.5 117.0 121.8 127.4

106.4 111.1 114.1 118.6 123.5

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

130.7 136.2 140.3 144.5 148.2

130.7 136.2 140.3 144.5 148.2

5.4 4.2 3.0 3.0 2.6

132.1 136.8 138.7 141.6 144.9

132.4 136.3 137.9 140.9 144.3

132.3 135.8 136.8 140.1 144.1

140.0 145.8 151.5 156.6 163.0

130.0 132.6 130.9 135.5 137.2

126.5 125.1 128.5 129.4 131.7

149.0 155.8 155.4 159.0 165.0

113.5 114.1 114.3 114.6 123.2

123.4 127.3 128.8 130.5 135.6

133.4 137.9 140.7 143.2 145.7

129.3 142.8 147.3 149.6 151.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

152.4 156.9 160.5 163.0 166.6

152.4 156.9 160.5 163.0 166.6

2.8 3.0 2.3 1.6 2.2

148.9 153.7 157.7 161.1 164.6

148.4 153.3 157.3 160.7 164.1

148.8 154.3 158.1 161.1 164.2

167.5 174.0 177.6 181.1 185.0

138.8 144.8 148.5 147.3 147.9

132.8 142.1 145.5 150.8 159.6

177.7 183.9 187.5 198.2 203.1

131.7 128.6 133.4 133.0 134.3

140.8 142.9 147.3 150.8 153.5

149.0 152.7 157.0 161.1 165.1

153.9 158.5 162.8 165.7 169.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

172.2 177.1 179.9 184.0 188.9

172.2 177.1 179.9 184.0 188.9

3.4 2.8 1.6 2.3 2.7

168.4 173.6 176.8 180.5 186.6

167.8 173.1 176.2 180.0 186.2

167.9 173.4 175.6 179.4 186.2

188.3 193.8 198.0 202.8 206.0

154.5 161.3 162.1 169.3 181.7

160.7 167.1 168.1 167.9 180.2

204.6 212.2 220.9 225.9 232.7

137.8 139.2 139.2 139.8 140.4

155.6 159.6 160.8 162.6 164.9

169.0 173.9 178.3 182.1 187.5

174.7 179.3 183.6 187.2 192.1

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

185.2 186.2 187.4 188.0 189.1 189.7

185.9 186.5 187.3 187.7 188.8 189.3

0.5 0.3 0.4 0.2 0.6 0.3

183.8 184.4 184.8 185.2 186.5 186.9

183.4 183.9 184.3 184.6 186.0 186.4

183.2 183.7 184.2 184.4 186.4 187.0

204.3 204.3 205.1 205.3 205.6 205.9

179.9 179.7 179.5 179.7 181.8 182.3

172.3 171.9 172.3 174.4 185.9 190.2

225.6 229.0 229.4 229.1 229.4 227.9

140.2 140.4 140.1 139.5 140.1 139.9

162.7 163.5 165.0 165.0 165.3 165.9

184.9 185.5 185.8 186.2 186.7 187.0

189.4 189.9 190.8 191.8 191.7 192.4

July .............................. August .......................... September ................... October ........................ November .................... December ....................

189.4 189.5 189.9 190.9 191.0 190.3

189.2 189.3 189.6 190.7 191.2 191.2

-0.1 0.1 0.2 0.6 0.3 0.0

187.4 187.4 187.4 188.4 188.9 188.9

186.9 186.9 186.8 187.9 188.4 188.4

187.3 186.9 186.3 187.9 188.5 188.4

206.1 206.3 206.6 207.4 208.0 207.8

183.6 183.3 183.0 182.7 182.2 183.2

189.4 185.2 180.9 180.7 180.1 179.2

227.5 227.6 229.0 241.3 248.7 247.3

140.2 140.5 140.7 140.6 140.9 141.2

165.9 166.0 165.1 165.3 164.8 164.2

187.8 188.4 188.9 189.4 189.6 189.9

192.2 192.5 193.4 193.6 194.0 193.9

. . . = Not available.

CHAPTER 8: PRICES

189

Table 8-1. Consumer Price Indexes—Continued (All urban consumers; 1982–1984 = 100, except as noted; seasonally adjusted, except as noted.) Housing Shelter Year and month Total Total

Rent of shelter 1

Rent of primary residence

Fuels and utilities

Owners’ Tenants’ Lodging equivalent and away from rent of household home 2 primary insurresidence 1 ance 2,3

Household furnishings and operations

Fuels Total

Fuel oils and other fuels

Water and sewer and Gas trash (piped) and collection electricity services 2

Total

Household operations 2,3

1946 1947 1948 1949

................................. ................................. ................................. .................................

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

7.9 9.0 10.6 10.9

18.3 18.2 18.7 19.2

... ... ... ...

... ... ... ...

... ... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... 22.0 22.5

... ... ... ... ...

... ... ... 33.9 35.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... 22.5 22.6

11.3 11.8 12.1 12.6 12.6

19.2 19.3 19.5 19.9 20.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

22.7 23.1 24.0 24.5 24.7

... ... ... ... ...

35.6 36.3 37.0 37.6 38.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

23.0 23.6 24.3 24.8 25.4

12.7 13.3 14.0 13.7 13.9

20.7 20.9 21.1 21.9 22.4

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

25.2 25.4 25.8 26.1 26.5

... ... ... ... ...

38.7 39.2 39.7 40.1 40.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

26.0 26.3 26.3 26.6 26.6

13.8 14.1 14.2 14.4 14.4

23.3 23.5 23.5 23.5 23.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

... ... 30.8 32.0 34.0

27.0 27.8 28.8 30.1 32.6

... ... ... ... ...

40.9 41.5 42.2 43.3 44.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

26.6 26.7 27.1 27.4 28.0

14.6 15.0 15.5 16.0 16.3

23.5 23.6 23.7 23.9 24.3

... ... ... ... ...

... ... 42.0 43.6 45.2

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

36.4 38.0 39.4 41.2 45.8

35.5 37.0 38.7 40.5 44.4

... ... ... ... ...

46.5 48.7 50.4 52.5 55.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

29.1 31.1 32.5 34.3 40.7

17.0 18.2 18.3 21.1 33.2

25.4 27.1 28.5 29.9 34.5

... ... ... ... ...

46.8 48.6 49.7 51.1 56.8

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

50.7 53.8 57.4 62.4 70.1

48.8 51.5 54.9 60.5 68.9

... ... ... ... ...

58.0 61.1 64.8 69.3 74.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

45.4 49.4 54.7 58.5 64.8

36.4 38.8 43.9 46.2 62.4

40.1 44.7 50.5 55.0 61.0

... ... ... ... ...

63.4 67.3 70.4 74.7 79.9

... ... ... ... ...

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

81.1 90.4 96.9 99.5 103.6

81.0 90.5 96.9 99.1 104.0

... ... ... 102.7 107.7

80.9 87.9 94.6 100.1 105.3

... ... ... ... ...

... ... ... 102.5 107.3

... ... ... ... ...

75.4 86.4 94.9 100.2 104.8

86.1 104.6 103.4 97.2 99.4

71.4 81.9 93.2 101.5 105.4

... ... ... ... ...

86.3 93.0 98.0 100.2 101.9

... ... ... ... ...

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

107.7 110.9 114.2 118.5 123.0

109.8 115.8 121.3 127.1 132.8

113.9 120.2 125.9 132.0 138.0

111.8 118.3 123.1 127.8 132.8

... ... ... ... ...

113.2 119.4 124.8 131.1 137.4

... ... ... ... ...

106.5 104.1 103.0 104.4 107.8

95.9 77.6 77.9 78.1 81.7

107.1 105.7 103.8 104.6 107.5

... ... ... ... ...

103.8 105.2 107.1 109.4 111.2

... ... ... ... ...

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

128.5 133.6 137.5 141.2 144.8

140.0 146.3 151.2 155.7 160.5

145.5 152.1 157.3 162.0 167.0

138.4 143.3 146.9 150.3 154.0

... ... ... ... ...

144.8 150.4 155.5 160.5 165.8

... ... ... ... ...

111.6 115.3 117.8 121.3 122.8

99.3 94.6 90.7 90.3 88.8

109.3 112.6 114.8 118.5 119.2

... ... ... ... ...

113.3 116.0 118.0 119.3 121.0

... ... ... ... ...

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

148.5 152.8 156.8 160.4 163.9

165.7 171.0 176.3 182.1 187.3

172.4 178.0 183.4 189.6 195.0

157.8 162.0 166.7 172.1 177.5

... ... ... 109.0 112.3

171.3 176.8 181.9 187.8 192.9

... ... ... 99.8 101.3

123.7 127.5 130.8 128.5 128.8

88.1 99.2 99.8 90.0 91.4

119.2 122.1 125.1 121.2 120.9

... ... ... 101.6 104.0

123.0 124.7 125.4 126.6 126.7

... ... ... 101.5 104.5

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

169.6 176.4 180.3 184.8 189.5

193.4 200.6 208.1 213.1 218.8

201.3 208.9 216.7 221.9 227.9

183.9 192.1 199.7 205.5 211.0

117.5 118.6 118.3 119.3 125.9

198.7 206.3 214.7 219.9 224.9

103.7 106.2 108.7 114.8 116.2

137.9 150.2 143.6 154.5 161.9

129.7 129.3 115.5 139.5 160.5

128.0 142.4 134.4 145.0 150.6

106.5 109.6 113.0 117.2 124.0

128.2 129.1 128.3 126.1 125.5

110.5 115.6 119.0 121.8 125.0

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

186.9 187.2 187.8 188.4 188.9 189.5

215.9 215.9 217.1 217.9 218.4 218.9

224.7 224.8 226.2 226.9 227.6 228.0

208.1 208.6 209.1 209.7 210.2 210.9

122.2 120.3 124.4 125.7 126.1 125.8

222.4 222.8 223.3 224.0 224.5 225.0

114.8 115.0 115.1 115.7 116.1 116.2

157.1 159.4 157.5 158.5 159.8 161.9

145.7 147.0 145.8 146.8 149.4 153.5

146.7 149.1 146.8 147.8 149.0 151.2

120.8 121.8 122.0 122.3 123.3 123.8

125.4 125.5 125.5 125.2 125.3 125.4

122.7 123.4 123.6 123.8 124.0 124.7

July .............................. August .......................... September ................... October ........................ November .................... December ....................

190.0 190.2 190.7 191.1 191.7 192.1

219.4 219.5 220.3 220.7 220.8 221.3

228.5 228.7 229.4 229.8 229.9 230.4

211.4 212.0 212.5 212.9 213.1 213.7

126.9 125.3 128.2 128.5 128.3 128.7

225.4 225.8 226.1 226.4 226.6 227.0

116.1 116.3 116.6 116.3 117.7 118.7

162.6 164.0 163.4 163.4 167.4 167.7

157.0 163.0 166.2 180.3 189.0 185.2

151.6 152.7 151.6 150.6 154.8 155.3

124.5 125.0 125.6 125.9 126.3 126.5

125.1 125.0 125.2 126.2 126.0 126.0

125.5 126.1 126.1 126.2 127.0 127.0

1December 1982 = 100. 2December 1997 = 100. 3Not seasonally adjusted.

. . . = Not available.

190

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-1. Consumer Price Indexes—Continued (All urban consumers; 1982–1984 = 100, except as noted; seasonally adjusted.) Apparel

Transportation Private transportation

Year and month Total

Men’s and Women’s boys’ and girls’ apparel apparel

Infants’ and toddlers’ apparel

Footwear

New and used motor vehicles

Total Total

Total 2

New vehicles

Used cars and trucks

Motor Motor vehicle vehicle mainteparts and and Gasoline equipment nance repair (all types)

Motor fuel Total

1946 1947 1948 1949

................................. ................................. ................................. .................................

34.4 39.9 42.5 40.8

35.1 41.6 43.9 42.7

48.0 55.6 58.9 55.7

... 43.8 41.2 38.4

22.2 27.7 30.3 30.1

16.7 18.5 20.6 22.1

18.3 20.8 23.0 24.4

... ... ... ...

... 34.1 37.3 40.9

... ... ... ...

14.5 16.4 18.6 19.1

14.5 16.4 18.6 19.1

... ... ... ...

15.8 17.1 18.1 18.6

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

40.3 43.9 43.5 43.1 43.1

42.5 46.0 46.2 45.9 45.6

53.8 57.9 57.2 56.6 56.1

37.8 41.5 39.3 39.2 37.0

30.5 34.5 33.8 33.8 34.2

22.7 24.1 25.7 26.5 26.1

24.5 25.6 27.3 27.8 27.1

... ... ... ... ...

41.2 43.1 46.8 47.3 46.5

... ... ... 26.7 22.7

19.0 19.5 20.0 21.2 21.8

19.0 19.5 20.0 21.2 21.8

... ... ... ... ...

18.9 20.4 20.8 22.0 22.7

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

42.9 43.7 44.5 44.6 45.0

45.1 45.9 46.6 46.4 46.3

55.6 56.0 56.3 56.2 56.5

37.6 37.6 37.7 37.3 36.9

34.5 36.4 37.5 38.1 39.7

25.8 26.2 27.7 28.6 29.8

26.7 27.1 28.6 29.5 30.8

... ... ... ... ...

44.9 46.1 48.6 50.1 52.3

21.5 20.7 23.2 24.0 26.8

22.1 22.8 23.8 23.4 23.7

22.1 22.8 23.8 23.5 23.7

... ... ... ... ...

23.2 24.2 25.0 25.4 26.0

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

45.7 46.1 46.3 46.9 47.3

47.2 47.7 48.0 48.6 49.3

56.7 56.9 56.8 57.3 57.6

36.8 35.5 34.8 34.8 34.9

41.1 41.4 42.0 42.5 42.6

29.8 30.1 30.8 30.9 31.4

30.6 30.8 31.4 31.6 32.0

... ... ... ... ...

51.6 51.6 51.4 51.1 50.9

25.0 26.0 28.4 28.7 30.0

24.4 24.1 24.3 24.2 24.1

24.4 24.1 24.3 24.2 24.1

... ... ... ... ...

26.5 27.1 27.5 27.8 28.2

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

47.8 49.0 51.0 53.7 56.8

49.9 51.2 53.1 56.1 59.7

58.1 59.2 61.9 65.6 69.2

35.1 35.4 35.8 37.3 38.4

43.4 46.0 48.2 50.8 53.9

31.9 32.3 33.3 34.3 35.7

32.5 32.9 33.8 34.8 36.0

... ... ... ... ...

49.8 48.9 49.3 50.7 51.5

29.8 29.0 29.9 ... 30.9

25.1 25.6 26.4 26.8 27.6

25.1 25.6 26.4 26.8 27.7

... ... ... ... ...

28.7 29.2 30.4 32.1 34.1

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

59.2 61.1 62.3 64.6 69.4

62.2 63.9 64.7 67.1 72.4

71.8 74.4 76.2 78.8 83.5

39.2 40.0 41.1 42.5 54.2

56.8 58.6 60.3 62.8 66.6

37.5 39.5 39.9 41.2 45.8

37.5 39.4 39.7 41.0 46.2

... ... ... ... ...

53.1 55.3 54.8 54.8 58.0

31.2 33.0 33.1 35.2 36.7

27.9 28.1 28.4 31.2 42.2

27.9 28.1 28.4 31.2 42.2

... ... ... ... ...

36.6 39.3 41.1 43.2 47.6

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

72.5 75.2 78.6 81.4 84.9

75.5 78.1 81.7 83.5 85.4

85.5 87.9 90.6 92.4 94.0

64.5 68.0 74.6 77.4 79.0

69.6 72.3 75.7 79.0 85.3

50.1 55.1 59.0 61.7 70.5

50.6 55.6 59.7 62.5 71.7

... ... ... ... ...

63.0 67.0 70.5 75.9 81.9

43.8 50.3 54.7 55.8 60.2

45.1 47.0 49.7 51.8 70.1

45.1 47.0 49.7 51.8 70.2

... ... ... 77.6 85.1

53.7 57.6 61.9 67.0 73.7

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

90.9 95.3 97.8 100.2 102.1

89.4 94.2 97.6 100.3 102.1

96.0 97.5 98.5 100.2 101.3

85.5 92.9 96.3 101.1 102.6

91.8 96.7 99.1 99.8 101.1

83.1 93.2 97.0 99.3 103.7

84.2 93.8 97.1 99.3 103.6

... ... ... ... ...

88.5 93.9 97.5 99.9 102.6

62.3 76.9 88.8 98.7 112.5

97.4 108.5 102.8 99.4 97.9

97.5 108.5 102.8 99.4 97.8

95.3 101.0 103.6 100.7 95.6

81.5 89.2 96.0 100.3 103.8

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

105.0 105.9 110.6 115.4 118.6

105.0 106.2 109.1 113.4 117.0

104.9 104.0 110.4 114.9 116.4

107.2 111.8 112.1 116.4 119.1

102.3 101.9 105.1 109.9 114.4

106.4 102.3 105.4 108.7 114.1

106.2 101.2 104.2 107.6 112.9

... ... ... ... ...

106.1 110.6 114.4 116.5 119.2

113.7 108.8 113.1 118.0 120.4

98.7 77.1 80.2 80.9 88.5

98.6 77.0 80.1 80.8 88.5

95.9 95.4 96.1 97.9 100.2

106.8 110.3 114.8 119.7 124.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

124.1 128.7 131.9 133.7 133.4

120.4 124.2 126.5 127.5 126.4

122.6 127.6 130.4 132.6 130.9

125.8 128.9 129.3 127.1 128.1

117.4 120.9 125.0 125.9 126.0

120.5 123.8 126.5 130.4 134.3

118.8 121.9 124.6 127.5 131.4

... ... ... 91.8 95.5

121.4 126.0 129.2 132.7 137.6

117.6 118.1 123.2 133.9 141.7

101.2 99.4 99.0 98.0 98.5

101.0 99.2 99.0 97.7 98.2

100.9 102.2 103.1 101.6 101.4

130.1 136.0 141.3 145.9 150.2

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

132.0 131.7 132.9 133.0 131.3

126.2 127.7 130.1 131.8 131.1

126.9 124.7 126.1 126.0 123.3

127.2 129.7 129.0 126.1 129.0

125.4 126.6 127.6 128.0 125.7

139.1 143.0 144.3 141.6 144.4

136.3 140.0 141.0 137.9 140.5

99.4 101.0 100.5 100.1 100.1

141.0 143.7 144.3 143.4 142.9

156.5 157.0 151.1 150.6 152.0

100.0 106.3 106.2 92.2 100.7

99.8 105.9 105.8 91.6 100.1

102.1 102.2 101.9 101.1 100.5

154.0 158.4 162.7 167.1 171.9

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

129.6 127.3 124.0 120.9 120.4

129.7 125.7 121.7 118.0 117.5

121.5 119.3 115.8 113.1 113.0

130.6 129.2 126.4 122.1 118.5

123.8 123.0 121.4 119.6 119.3

153.3 154.3 152.9 157.6 163.1

149.1 150.0 148.8 153.6 159.4

100.8 101.3 99.2 96.5 94.2

142.8 142.1 140.0 137.9 137.1

155.8 158.7 152.0 142.9 133.3

129.3 124.7 116.6 135.8 160.4

128.6 124.0 116.0 135.1 159.7

101.5 104.8 106.9 107.8 108.7

177.3 183.5 190.2 195.6 200.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

120.1 120.0 120.9 120.8 121.2 121.1

118.1 118.2 118.1 117.9 118.2 118.4

112.2 111.8 113.5 113.4 114.0 113.8

119.6 119.8 120.0 119.3 117.8 118.1

118.4 118.8 119.2 119.1 119.1 119.0

158.1 159.2 161.3 161.3 164.2 165.0

154.1 155.3 157.4 157.4 160.5 161.3

93.9 94.1 93.9 93.9 93.9 93.8

137.0 137.5 137.3 137.2 137.3 137.6

130.8 131.0 131.2 131.3 131.8 130.6

142.0 146.0 154.9 154.9 166.9 170.0

141.4 145.4 154.1 154.2 166.1 169.3

108.0 108.0 107.8 107.9 107.9 108.2

198.0 197.9 198.5 198.8 199.2 199.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

120.5 120.1 120.1 120.1 120.4 119.9

118.2 117.2 116.8 116.0 116.0 116.4

113.1 112.6 112.0 113.3 113.7 111.9

118.1 117.1 118.4 117.9 117.9 118.1

117.5 119.0 120.9 119.7 119.8 120.3

163.2 162.7 163.0 166.4 166.7 165.6

159.4 159.0 159.5 162.9 162.9 162.0

93.8 93.9 94.4 94.6 95.0 95.0

136.7 136.2 136.1 136.5 137.4 137.8

132.1 133.8 136.5 136.8 136.7 137.3

161.6 159.2 159.1 171.9 170.4 165.7

160.8 158.4 158.4 171.0 169.5 165.0

108.8 109.0 109.3 109.5 109.9 109.9

200.5 201.0 200.9 201.7 202.6 203.0

2December

1997 = 100. . . . = Not available.

191

CHAPTER 8: PRICES Table 8-1. Consumer Price Indexes—Continued (All urban consumers; 1982–1984 = 100, except as noted; seasonally adjusted.) Transportation— Continued

Medical care

Recreation

Education and communication

Medical care services Year and month

Public transportation

Transportation services

Medical care, total

Medical care commodities

Total

Professional services

Education

Hospital and related services

Total 2

Video and audio 2

Total 2 Total 2

Educational books and supplies

Tuition, other school fees, and childcare

1946 1947 1948 1949

................................. ................................. ................................. .................................

9.4 9.9 11.2 12.4

12.7 13.2 14.7 16.3

12.5 13.5 14.4 14.8

34.2 36.7 38.6 39.2

10.4 11.3 12.1 12.5

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

13.4 14.8 15.8 16.8 18.0

17.4 19.0 20.4 21.7 22.6

15.1 15.9 16.7 17.3 17.8

39.7 40.8 41.2 41.5 42.0

12.8 13.4 14.3 14.8 15.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

18.5 19.2 19.9 20.9 21.5

22.7 23.0 24.1 25.6 26.5

18.2 18.9 19.7 20.6 21.5

42.5 43.4 44.6 46.1 46.8

15.7 16.3 17.0 17.9 18.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

22.2 23.2 24.0 24.3 24.7

27.2 27.8 28.3 28.6 29.2

22.3 22.9 23.5 24.1 24.6

46.9 46.3 45.6 45.2 45.1

19.5 20.2 20.9 21.5 22.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

25.2 26.1 27.4 28.7 30.9

30.3 31.6 32.6 33.9 36.3

25.2 26.3 28.2 29.9 31.9

45.0 45.1 44.9 45.0 45.4

22.7 23.9 26.0 27.9 30.2

... ... 30.9 32.5 34.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... 33.7 35.4 37.4

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

35.2 37.8 39.3 39.7 40.6

40.2 43.4 44.4 44.7 46.3

34.0 36.1 37.3 38.8 42.4

46.5 47.3 47.4 47.5 49.2

32.3 34.7 35.9 37.5 41.4

37.0 39.4 40.8 42.2 45.8

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

38.8 41.4 44.2 45.6 47.2

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

43.5 47.8 50.0 51.5 54.9

49.8 56.9 61.5 64.4 69.5

47.5 52.0 57.0 61.8 67.5

53.3 56.5 60.2 64.4 69.0

46.6 51.3 56.4 61.2 67.2

50.8 55.5 60.0 64.5 70.1

... ... ... 55.1 61.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

50.3 53.7 56.9 61.6 65.7

... ... ... 59.8 64.7

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

69.0 85.6 94.9 99.5 105.7

79.2 88.6 96.1 99.1 104.8

74.9 82.9 92.5 100.6 106.8

75.4 83.7 92.3 100.2 107.5

74.8 82.8 92.6 100.7 106.7

77.9 85.9 93.2 99.8 107.0

69.2 79.1 90.3 100.5 109.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

71.4 80.3 91.0 100.3 108.7

71.2 79.9 90.5 99.7 109.8

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

110.5 117.0 121.1 123.3 129.5

110.0 116.3 121.9 128.0 135.6

113.5 122.0 130.1 138.6 149.3

115.2 122.8 131.0 139.9 150.8

113.2 121.9 130.0 138.3 148.9

113.5 120.8 128.8 137.5 146.4

116.1 123.1 131.6 143.9 160.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

118.2 128.1 138.1 148.1 158.0

119.7 129.6 140.0 151.0 162.7

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

142.6 148.9 151.4 167.0 172.0

144.2 151.2 155.7 162.9 168.6

162.8 177.0 190.1 201.4 211.0

163.4 176.8 188.1 195.0 200.7

162.7 177.1 190.5 202.9 213.4

156.1 165.7 175.8 184.7 192.5

178.0 196.1 214.0 231.9 245.6

... ... ... 90.7 92.7

... ... ... 96.5 95.4

... ... ... 85.5 88.8

... ... ... 78.4 83.3

171.3 180.3 190.3 197.6 205.5

175.7 191.4 208.5 225.3 239.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

175.9 181.9 186.7 190.3 197.7

175.9 180.5 185.0 187.9 190.7

220.5 228.2 234.6 242.1 250.6

204.5 210.4 215.3 221.8 230.7

224.2 232.4 239.1 246.8 255.1

201.0 208.3 215.4 222.2 229.2

257.8 269.5 278.4 287.5 299.5

94.5 97.4 99.6 101.1 102.0

95.1 96.6 99.4 101.1 100.7

92.2 95.3 98.4 100.3 101.2

88.0 92.7 97.3 102.1 107.0

214.4 226.9 238.4 250.8 261.7

253.8 267.1 280.4 294.2 308.4

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

209.6 210.6 207.4 209.3 209.1

196.1 201.9 209.1 216.3 220.6

260.8 272.8 285.6 297.1 310.1

238.1 247.6 256.4 262.8 269.3

266.0 278.8 292.9 306.0 321.3

237.7 246.5 253.9 261.2 271.5

317.3 338.3 367.8 394.8 417.9

103.3 104.9 106.2 107.5 108.6

101.0 101.5 102.8 103.6 104.2

102.5 105.2 107.9 109.8 111.6

112.5 118.5 126.0 134.4 143.7

279.9 295.9 317.6 335.4 351.0

324.0 341.1 362.1 386.7 414.3

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

210.0 210.2 210.4 210.8 208.5 208.4

219.3 219.3 219.4 219.7 219.5 220.0

303.6 305.3 306.9 307.9 308.8 309.8

265.9 266.9 267.3 268.3 269.0 269.2

313.7 315.6 317.7 318.6 319.6 320.9

265.6 267.5 269.1 270.0 270.6 271.2

408.3 410.4 412.3 413.7 415.8 418.0

108.0 108.3 108.6 108.7 108.7 108.8

103.7 103.7 104.0 104.4 104.3 104.2

110.9 111.2 111.2 111.3 111.3 111.5

139.5 140.2 141.0 141.8 142.6 143.3

345.1 345.8 346.7 348.7 349.9 350.7

401.9 404.0 406.4 408.6 410.8 413.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

209.0 207.2 205.5 207.7 211.6 209.5

220.8 220.9 220.9 221.8 222.8 222.2

310.8 311.7 312.7 313.9 314.7 315.6

269.4 269.7 270.7 271.8 271.6 271.2

322.2 323.3 324.3 325.5 326.7 328.1

272.1 273.1 273.7 274.2 275.0 275.5

420.1 419.1 421.4 423.3 424.9 427.7

108.7 108.5 108.7 108.8 108.9 108.9

104.3 104.1 104.3 104.5 104.3 104.5

111.6 111.6 112.0 111.8 112.2 112.3

144.0 144.8 145.7 146.2 147.1 147.9

350.7 354.0 352.2 353.4 356.4 358.9

415.3 417.4 420.5 422.0 424.4 426.6

2December

1997 = 100. . . . = Not available.

192

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-1. Consumer Price Indexes—Continued (All urban consumers; 1982–1984 = 100, except as noted; seasonally adjusted, except as noted.) Education and communication—Continued

Other goods and services

Communication

Commodity and service groups of CPI-U

Personal care

Information and information processing Information and information processing other than telephone services

Year and month Total

2

Total 2,3

Telephone services 2,3 Total 3,4

Tobacco and smoking products

Total

Personal computers and peripheral equipment 2,3

Total

Personal care products 3

Personal care services 3

Commodities

Services

1946 1947 1948 1949

................................. ................................. ................................. .................................

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

18.2 19.8 20.7 21.3

22.7 25.4 26.3 26.2

27.6 33.2 34.2 33.0

... ... ... ...

22.9 27.6 29.6 28.8

14.1 14.7 15.6 16.4

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

21.7 22.4 23.5 24.5 24.9

26.2 28.7 29.0 29.3 29.4

32.2 35.7 35.0 34.8 34.6

... ... ... 24.1 24.4

29.0 31.6 32.0 31.9 31.6

16.9 17.8 18.6 19.4 20.0

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

25.0 25.5 26.3 27.1 28.1

29.9 31.2 32.3 33.4 34.1

34.6 35.4 36.6 37.9 38.2

25.6 27.2 28.3 29.0 30.0

31.3 31.6 32.6 33.3 33.3

20.4 20.9 21.8 22.6 23.3

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

29.1 29.3 29.5 30.4 31.2

34.6 34.8 35.4 35.9 36.3

38.2 38.1 38.5 38.6 38.6

31.0 31.5 32.2 33.0 33.9

33.6 33.8 34.1 34.4 34.8

24.1 24.5 25.0 25.5 26.0

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... 35.1 36.9 38.7

32.6 34.2 35.5 37.8 39.8

36.6 37.3 38.4 40.0 42.0

38.4 38.0 38.6 39.8 41.6

34.8 36.4 38.1 40.1 42.2

35.2 36.1 36.8 38.1 39.9

26.6 27.6 28.8 30.3 32.4

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

40.9 42.9 44.7 46.4 49.8

43.1 44.9 47.4 48.7 51.1

43.5 44.9 46.0 48.1 52.8

42.7 44.0 45.2 46.4 51.5

44.2 45.7 46.8 49.7 53.9

41.7 43.2 44.5 47.8 53.5

35.0 37.0 38.4 40.1 43.8

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

53.9 57.0 60.4 64.3 68.9

54.7 57.0 59.8 63.0 66.8

57.9 61.7 65.7 69.9 75.2

58.0 61.3 64.7 68.2 72.9

57.7 61.9 66.4 71.3 77.2

58.2 60.7 64.2 68.8 76.6

48.0 52.0 56.0 60.8 67.5

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

75.2 82.6 91.1 101.1 107.9

72.0 77.8 86.5 103.4 110.1

81.9 89.1 95.4 100.3 104.3

79.6 87.8 95.1 100.7 104.2

83.7 90.2 95.7 100.0 104.4

86.0 93.2 97.0 99.8 103.2

77.9 88.1 96.0 99.4 104.6

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... 96.3

... ... ... ... ...

114.5 121.4 128.5 137.0 147.7

116.7 124.7 133.6 145.8 164.4

108.3 111.9 115.1 119.4 125.0

107.6 111.3 113.9 118.1 123.2

108.9 112.5 116.2 120.7 126.8

105.4 104.4 107.7 111.5 116.7

109.9 115.4 120.2 125.7 131.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

... ... ... 96.7 97.6

... ... ... 97.7 98.6

... ... ... ... ...

93.5 88.6 83.7 78.8 72.0

... ... ... ... ...

159.0 171.6 183.3 192.9 198.5

181.5 202.7 219.8 228.4 220.0

130.4 134.9 138.3 141.5 144.6

128.2 132.8 136.5 139.0 141.5

132.8 137.0 140.0 144.0 147.9

122.8 126.6 129.1 131.5 133.8

139.2 146.3 152.0 157.9 163.1

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

98.8 99.6 100.3 98.7 96.0

98.7 99.5 100.4 98.5 95.5

... ... ... 100.7 100.1

63.8 57.2 50.1 39.9 30.5

... ... ... 78.2 53.5

206.9 215.4 224.8 237.7 258.3

225.7 232.8 243.7 274.8 355.8

147.1 150.1 152.7 156.7 161.1

143.1 144.3 144.2 148.3 151.8

151.5 156.6 162.4 166.0 171.4

136.4 139.9 141.8 141.9 144.4

168.7 174.1 179.4 184.2 188.8

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

93.6 93.3 92.3 89.7 86.7

92.8 92.3 90.8 87.8 84.6

98.5 99.3 99.7 98.3 95.8

25.9 21.3 18.3 16.1 14.8

41.1 29.5 22.2 17.6 15.3

271.1 282.6 293.2 298.7 304.7

394.9 425.2 461.5 469.0 478.0

165.6 170.5 174.7 178.0 181.7

153.7 155.1 154.7 153.5 153.9

178.1 184.3 188.4 193.2 197.6

149.2 150.7 149.7 151.2 154.7

195.3 203.4 209.8 216.5 222.8

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

88.1 88.1 87.7 87.4 86.9 86.8

86.1 86.1 85.7 85.4 84.8 84.7

97.0 97.1 96.7 96.5 95.9 95.8

15.3 15.2 15.2 15.0 14.9 14.9

16.2 16.0 15.8 15.9 15.7 15.5

301.7 302.2 302.7 303.1 303.4 304.0

473.0 472.6 473.6 473.3 473.5 476.0

179.9 180.3 180.6 180.9 181.1 181.3

153.8 154.5 154.5 154.5 154.6 153.8

194.6 195.2 195.8 196.1 196.6 196.9

151.8 152.5 153.6 153.7 155.3 155.8

219.6 220.1 220.8 221.5 222.0 222.7

July .............................. August .......................... September ................... October ........................ November .................... December ....................

86.5 86.1 86.2 85.5 85.6 85.4

84.5 84.0 84.1 83.4 83.5 83.3

95.6 95.0 95.3 94.6 94.9 94.8

14.8 14.7 14.7 14.5 14.3 14.2

15.3 15.1 15.0 14.6 14.2 13.9

305.0 305.7 306.4 306.9 307.3 308.5

480.5 481.6 482.9 482.3 481.7 484.8

181.6 182.0 182.4 182.9 183.2 183.8

153.4 152.8 153.5 154.0 153.8 153.4

197.5 198.9 199.1 199.4 200.0 201.2

154.9 154.6 154.8 156.6 156.7 156.2

223.3 223.6 224.2 224.5 225.3 225.7

2December 1997 = 100. 3Not seasonally adjusted. 4December 1988 = 100.

. . . = Not available.

CHAPTER 8: PRICES

Figure 8-2. Consumer Prices: All Items, Medical Care, and Apparel, 1946–2004 (ratio scale) 347

1982–1984 = 100

186 100 53 All items 29

Medical care Apparel

15

1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• Figure 8-2 charts two components of the Consumer Price Index (CPI-U) along with the all-items total. Since all three indexes have the base years 1982–1984, they converge in those years. However, over the postwar period, the trends of the two components are very different. Apparel has been one of the areas most subject to international competition, and the apparel index shows far less growth than the overall average of prices. Medical care, on the other hand, has little or no price competition from producers in other countries. It is often not paid for directly by consumers, but by third-party insurers, both government and private. Medical care is characterized by trend growth in demand, reflecting rising income and expectations and technological innovations. This component has arguably been overstated in the CPI due to the difficulties of making quality adjustments. (Quality adjustments have been much improved in recent years, but such improvements are not retroactively introduced into the CPI.) (Table 8-1)

193

194

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-2. Alternative Measures of Total and Core Consumer Prices: Index Levels (Various bases; not seasonally adjusted, except as noted.) CPIs, all items

CPIs, all items less food and energy

CPI-U, 1982–1984 = 100, seasonally adjusted

CPI-W, 1982–1984 = 100, seasonally adjusted

CPI-U-X1, CPI-U, C-CPI-U, C-CPI-U, 1982–1984 CPI-U-RS, 1982–1984 CPI-U-RS, Dec. 1977 = Dec. 1999 = Dec. 1977 = Dec. 1999 = = 100, = 100, 100 100 100 100 seasonally seasonally adjusted adjusted

1958 ................................. 1959 .................................

28.9 29.1

29.1 29.3

31.4 31.6

... ...

... ...

29.6 30.2

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

29.6 29.9 30.2 30.6 31.0

29.8 30.1 30.4 30.8 31.2

32.2 32.5 32.8 33.3 33.7

... ... ... ... ...

... ... ... ... ...

30.6 31.0 31.4 31.8 32.3

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

31.5 32.4 33.4 34.8 36.7

31.7 32.6 33.6 35.0 36.9

34.2 35.2 36.3 37.7 39.4

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

38.8 40.5 41.8 44.4 49.3

39.0 40.7 42.1 44.7 49.6

41.3 43.1 44.4 47.2 51.9

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

53.8 56.9 60.6 65.2 72.6

54.1 57.2 60.9 65.6 73.1

56.2 59.4 63.2 67.5 74.0

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

82.4 90.9 96.5 99.6 103.9

82.9 91.4 96.9 99.8 103.3

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

107.6 109.6 113.6 118.3 124.0

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004

Chain-type price indexes for personal consumption expenditures (PCE), 2000 = 100

PCE, total, seasonally adjusted

PCE, marketbased, seasonally adjusted

... ...

... 20.4

... ... ... ... ...

... ... ... ... ...

32.7 33.5 34.7 36.3 38.4

... ... ... ... ...

... ... ... ... ...

40.8 42.7 44.0 45.6 49.4

... ... ... 104.3 114.1

... ... ... ... ...

82.3 90.1 95.6 99.6 103.9

126.7 138.6 146.8 152.9 159.0

106.9 108.6 112.5 117.0 122.6

107.6 109.6 113.6 118.3 124.0

130.7 136.2 140.3 144.5 148.2

129.0 134.3 138.2 142.1 145.6

................................. ................................. ................................. ................................. .................................

152.4 156.9 160.5 163.0 166.6

................................. ................................. ................................. ................................. .................................

Year and month

Excluding food and energy PCE, total, seasonally adjusted

PCE, marketbased, seasonally adjusted

... ...

... 21.0

... ...

20.8 21.0 21.2 21.5 21.8

... ... ... ... ...

21.4 21.6 21.9 22.2 22.5

... ... ... ... ...

... ... ... ... ...

22.1 22.7 23.2 24.2 25.3

... ... ... ... ...

22.8 23.2 23.9 24.9 26.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

26.4 27.6 28.5 30.1 33.2

... ... ... ... ...

27.3 28.5 29.5 30.5 32.8

... ... ... ... ...

53.9 57.4 61.0 65.5 71.9

... ... ... 103.5 110.7

... ... ... ... ...

36.0 37.9 40.4 43.2 47.1

... ... ... ... ...

35.5 37.7 40.1 42.8 45.7

... ... ... ... ...

... ... ... ... ...

80.8 89.2 95.8 99.6 104.6

120.4 131.4 141.3 149.0 156.1

... ... ... ... ...

52.1 56.7 59.9 62.4 64.8

... ... ... ... ...

49.9 54.2 57.8 60.8 63.4

... ... ... ... ...

164.3 167.3 173.0 179.3 187.0

... ... ... ... ...

109.1 113.5 118.2 123.4 129.0

162.8 169.4 176.0 183.0 190.3

... ... ... ... ...

66.9 68.6 70.9 73.8 77.0

... ... ... ... ...

65.8 68.2 70.8 73.8 76.9

... ... ... ... ...

130.7 136.2 140.3 144.5 148.2

196.3 203.4 208.5 213.7 218.2

... ... ... ... ...

135.5 142.1 147.3 152.2 156.5

199.0 207.4 213.8 219.8 224.9

... ... ... ... ...

80.5 83.4 85.8 87.8 89.7

... ... ... ... ...

80.2 83.3 86.1 88.3 90.4

... ... ... ... ...

149.8 154.1 157.6 159.7 163.2

152.4 156.9 160.5 163.0 166.6

223.5 229.5 234.4 237.7 242.7

... ... ... ... ...

161.2 165.6 169.5 173.4 177.0

230.6 236.3 241.5 246.7 251.7

... ... ... ... ...

91.6 93.5 95.1 96.0 97.6

... ... 95.8 96.4 97.7

92.4 94.1 95.6 96.9 98.3

... ... 96.6 97.6 98.6

172.2 177.1 179.9 184.0 188.9

168.9 173.5 175.9 179.8 184.5

172.2 177.1 179.9 184.0 188.9

250.8 257.8 261.9 267.9 275.1

102.0 104.3 105.6 107.8 1110.2

181.3 186.1 190.5 193.2 196.6

257.7 264.5 270.6 274.6 279.3

101.4 103.5 105.4 106.6 1108.2

100.0 102.1 103.5 105.5 108.2

100.0 101.9 103.1 105.0 107.4

100.0 101.9 103.7 105.1 107.2

100.0 101.7 103.2 104.3 105.9

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

185.9 186.5 187.3 187.7 188.8 189.3

181.4 182.1 182.9 183.2 184.4 184.9

185.9 186.5 187.3 187.7 188.8 189.3

269.7 271.2 272.9 273.8 275.3 276.2

1108.3 1108.9 1109.6 1109.9 1110.3 1110.6

194.6 194.9 195.5 195.9 196.2 196.6

275.7 277.0 277.0 279.3 279.3 279.3

1106.9 1107.4 1108.0 1108.2 1108.2 1108.1

106.7 107.1 107.5 107.7 108.2 108.4

106.0 106.3 106.7 106.9 107.4 107.7

106.1 106.3 106.6 106.8 107.0 107.1

105.1 105.2 105.5 105.6 105.8 105.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

189.2 189.3 189.6 190.7 191.2 191.2

184.8 184.9 185.2 186.3 186.8 186.7

189.2 189.3 189.6 190.7 191.2 191.2

275.9 275.9 276.5 278.0 278.2 277.1

1110.5 1110.5 1110.8 1111.3 1111.3 1110.9

196.8 196.9 197.5 197.9 198.2 198.5

279.4 279.7 280.6 281.6 281.6 281.1

1108.1 1108.2 1108.5 1108.9 1108.9 1108.7

108.4 108.5 108.6 109.1 109.4 109.4

107.6 107.6 107.7 108.2 108.5 108.4

107.2 107.3 107.5 107.8 108.0 108.1

106.0 106.0 106.1 106.4 106.6 106.6

1Interim

values. . . . = Not available.

CHAPTER 8: PRICES

195

Table 8-3. Alternative Measures of Total and Core Consumer Prices: Inflation Rates (Percent changes from year earlier, except as noted; not seasonally adjusted, except as noted.) CPIs, all items

Year and month

CPI-U, CPI-W, CPI-U-X1, 1982–1984 1982–1984 1982–1984 = 100, = 100, = 100, seasonally seasonally seasonally adjusted adjusted adjusted

CPIs, all items less food and energy

CPI-U-RS, Dec. 1977 = 100

C-CPI-U, Dec. 1999 = 100

CPI-U, 1982–1984 = 100, seasonally adjusted

CPI-U-RS, Dec. 1977 = 100

C-CPI-U, Dec. 1999 = 100

Chain-type price indexes for personal consumption expenditures (PCE), 2000 = 100

PCE, total, seasonally adjusted

PCE, marketbased, seasonally adjusted

Excluding food and energy PCE, total, seasonally adjusted

PCE, marketbased, seasonally adjusted

1958 ......................................... 1959 .........................................

2.8 0.7

2.8 0.7

3.0 0.6

... ...

... ...

2.4 2.0

... ...

... ...

... ...

... ...

... ...

... ...

1960 1961 1962 1963 1964

......................................... ......................................... ......................................... ......................................... .........................................

1.7 1.0 1.0 1.3 1.3

1.7 1.0 1.0 1.3 1.3

1.9 0.9 0.9 1.5 1.2

... ... ... ... ...

... ... ... ... ...

1.3 1.3 1.3 1.3 1.6

... ... ... ... ...

... ... ... ... ...

1.6 1.0 1.2 1.2 1.4

... ... ... ... ...

1.7 1.2 1.3 1.2 1.5

... ... ... ... ...

1965 1966 1967 1968 1969

......................................... ......................................... ......................................... ......................................... .........................................

1.6 2.9 3.1 4.2 5.5

1.6 2.8 3.1 4.2 5.4

1.5 2.9 3.1 3.9 4.5

... ... ... ... ...

... ... ... ... ...

1.2 2.4 3.6 4.6 5.8

... ... ... ... ...

... ... ... ... ...

1.5 2.5 2.5 3.9 4.6

... ... ... ... ...

1.2 2.1 2.9 4.2 4.6

... ... ... ... ...

1970 1971 1972 1973 1974

......................................... ......................................... ......................................... ......................................... .........................................

5.7 4.4 3.2 6.2 11.0

5.7 4.4 3.4 6.2 11.0

4.8 4.4 3.0 6.3 10.0

... ... ... ... ...

... ... ... ... ...

6.3 4.7 3.0 3.6 8.3

... ... ... ... ...

... ... ... ... ...

4.7 4.3 3.5 5.4 10.3

... ... ... ... ...

4.5 4.6 3.2 3.6 7.5

... ... ... ... ...

1975 1976 1977 1978 1979

......................................... ......................................... ......................................... ......................................... .........................................

9.1 5.8 6.5 7.6 11.3

9.1 5.7 6.5 7.7 11.4

8.3 5.7 6.4 6.8 9.6

... ... ... ... 9.4

... ... ... ... ...

9.1 6.5 6.3 7.4 9.8

... ... ... ... 7.0

... ... ... ... ...

8.3 5.5 6.5 7.0 8.8

... ... ... ... ...

8.3 6.1 6.4 6.6 7.0

... ... ... ... ...

1980 1981 1982 1983 1984

......................................... ......................................... ......................................... ......................................... .........................................

13.5 10.3 6.2 3.2 4.3

13.4 10.3 6.0 3.0 3.5

11.2 9.5 6.1 4.2 4.3

11.0 9.4 5.9 4.2 4.0

... ... ... ... ...

12.4 10.4 7.4 4.0 5.0

8.8 9.1 7.5 5.4 4.8

... ... ... ... ...

10.7 8.9 5.5 4.3 3.8

... ... ... ... ...

9.0 8.7 6.6 5.3 4.2

... ... ... ... ...

1985 1986 1987 1988 1989

......................................... ......................................... ......................................... ......................................... .........................................

3.6 1.9 3.6 4.1 4.8

3.5 1.6 3.6 4.0 4.8

3.6 1.9 3.6 4.1 4.8

3.3 1.8 3.4 3.6 4.3

... ... ... ... ...

4.3 4.0 4.1 4.4 4.5

4.3 4.1 3.9 4.0 4.0

... ... ... ... ...

3.3 2.4 3.5 4.0 4.4

... ... ... ... ...

3.8 3.7 3.7 4.3 4.1

... ... ... ... ...

1990 1991 1992 1993 1994

......................................... ......................................... ......................................... ......................................... .........................................

5.4 4.2 3.0 3.0 2.6

5.2 4.1 2.9 2.8 2.5

5.4 4.2 3.0 3.0 2.6

5.0 3.6 2.5 2.5 2.1

... ... ... ... ...

5.0 4.9 3.7 3.3 2.8

4.6 4.2 3.1 2.8 2.3

... ... ... ... ...

4.6 3.6 2.9 2.3 2.1

... ... ... ... ...

4.3 3.9 3.4 2.6 2.3

... ... ... ... ...

1995 1996 1997 1998 1999

......................................... ......................................... ......................................... ......................................... .........................................

2.8 3.0 2.3 1.6 2.2

2.9 2.9 2.3 1.3 2.2

2.8 3.0 2.3 1.6 2.2

2.4 2.7 2.1 1.4 2.1

... ... ... ... ...

3.0 2.7 2.4 2.3 2.1

2.5 2.5 2.2 2.2 2.0

... ... ... ... ...

2.1 2.2 1.7 0.9 1.7

... ... ... 0.6 1.4

2.2 1.9 1.6 1.3 1.5

... ... ... 1.0 1.1

2000 2001 2002 2003 2004

......................................... ......................................... ......................................... ......................................... .........................................

3.4 2.8 1.6 2.3 2.7

3.5 2.7 1.4 2.2 2.6

3.4 2.8 1.6 2.3 2.7

3.3 2.8 1.6 2.3 2.7

... 2.3 1.2 2.1 12.2

2.4 2.6 2.4 1.4 1.8

2.4 2.6 2.3 1.5 1.7

... 2.1 1.8 1.1 11.5

2.5 2.1 1.4 1.9 2.6

2.4 1.9 1.1 1.9 2.3

1.7 1.9 1.8 1.3 2.0

1.4 1.7 1.5 1.2 1.5

Percent change, annual rate: 1978–2004 ........................... 2000–2004 ...........................

4.2 2.3

4.1 2.2

4.0 2.3

3.8 2.3

12.0

...

4.3 2.0

3.9 2.0

11.6

...

3.6 2.0

... 1.8

3.6 1.8

... 1.4

2004 January ................................. February ............................... March ................................... April ...................................... May ....................................... June ......................................

2.0 1.7 1.7 2.3 3.0 3.2

1.8 1.5 1.4 2.1 3.0 3.1

2.0 1.7 1.7 2.3 3.0 3.2

2.0 1.7 1.8 2.3 3.0 3.3

11.7 11.5 11.6 12.0 12.6 12.8

1.2 1.2 1.6 1.8 1.7 1.9

1.1 1.2 1.0 1.8 1.7 1.8

10.8 11.1 11.4 11.6 11.6 11.6

2.0 1.9 1.9 2.3 2.9 3.0

1.8 1.6 1.6 2.0 2.6 2.8

1.5 1.6 1.8 1.9 2.0 2.1

1.2 1.3 1.4 1.5 1.5 1.6

July ....................................... August .................................. September ............................ October ................................. November ............................. December .............................

2.9 2.7 2.5 3.2 3.6 3.4

2.9 2.6 2.4 3.2 3.7 3.4

2.9 2.7 2.5 3.2 3.6 3.4

3.0 2.6 2.6 3.2 3.5 3.2

12.6 12.1 12.1 12.7 13.1 12.9

1.8 1.7 2.0 2.0 2.2 2.2

1.8 1.7 2.0 2.0 2.2 2.2

11.5 11.4 11.6 11.7 11.9 12.0

2.8 2.6 2.4 3.0 3.2 3.0

2.5 2.2 2.1 2.6 3.0 2.7

2.0 1.9 2.0 2.1 2.3 2.2

1.5 1.4 1.5 1.6 1.7 1.7

1Interim

values. . . . = Not available.

196

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-4. Producer Price Indexes and Purchasing Power of the Dollar (1982 = 100, seasonally adjusted.) Finished goods

Finished consumer goods

Finished consumer goods, except foods

Capital equipment

Finished consumer foods Year and month Total

Percent change from previous period

Total

Total Total

Crude

Processed

Durable goods

Nondurable goods less foods

Total

Manufacturing industries

Nonmanufacturing industries

1947 ................................. 1948 ................................. 1949 .................................

26.4 28.5 27.7

... 8.0 -2.8

28.6 30.8 29.4

31.9 34.9 32.1

39.3 42.4 40.1

31.1 34.0 31.1

27.4 29.2 28.6

32.9 35.2 36.1

24.2 25.7 24.7

19.8 21.6 22.7

17.5 19.1 20.0

21.9 23.8 25.0

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

28.2 30.8 30.6 30.3 30.4

1.8 9.2 -0.6 -1.0 0.3

29.9 32.7 32.3 31.7 31.7

32.7 36.7 36.4 34.5 34.2

36.5 41.9 44.6 41.6 37.5

32.4 36.2 35.4 33.6 34.0

29.0 31.1 30.7 31.0 31.1

36.5 38.9 39.2 39.5 39.8

25.1 27.0 26.3 26.6 26.7

23.2 25.5 25.9 26.3 26.7

20.6 22.7 23.2 23.5 23.9

25.5 27.9 28.3 28.7 29.0

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

30.5 31.3 32.5 33.2 33.1

0.3 2.6 3.8 2.2 -0.3

31.5 32.0 32.9 33.6 33.3

33.4 33.3 34.4 36.5 34.8

39.1 39.1 38.5 41.0 37.3

32.7 32.7 34.1 36.1 34.7

31.3 32.1 32.9 32.9 33.3

40.2 41.6 42.8 43.4 43.9

26.8 27.3 27.9 27.8 28.2

27.4 29.5 31.3 32.1 32.7

24.7 26.8 28.5 29.3 29.8

29.8 31.8 33.6 34.5 35.1

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

33.4 33.4 33.5 33.4 33.5

0.9 0.0 0.3 -0.3 0.3

33.6 33.6 33.7 33.5 33.6

35.5 35.4 35.7 35.3 35.4

39.8 38.0 38.4 37.8 38.9

35.2 35.3 35.6 35.2 35.2

33.5 33.4 33.4 33.4 33.3

43.8 43.6 43.4 43.1 43.3

28.4 28.4 28.4 28.5 28.4

32.8 32.9 33.0 33.1 33.4

30.2 30.3 30.5 30.6 31.0

34.8 34.8 34.9 34.8 35.1

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

34.1 35.2 35.6 36.6 38.0

1.8 3.2 1.1 2.8 3.8

34.2 35.4 35.6 36.5 37.9

36.8 39.2 38.5 40.0 42.4

39.0 41.5 39.6 42.5 45.9

36.8 39.2 38.8 40.0 42.3

33.6 34.1 34.7 35.5 36.3

43.2 43.4 44.1 45.1 45.9

28.8 29.3 30.0 30.6 31.5

33.8 34.6 35.8 37.0 38.3

31.5 32.5 33.8 35.0 36.2

35.4 36.0 37.0 38.2 39.5

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

39.3 40.5 41.8 45.6 52.6

3.4 3.1 3.2 9.1 15.4

39.1 40.2 41.5 46.0 53.1

43.8 44.5 46.9 56.5 64.4

46.0 45.8 48.0 63.6 71.6

43.9 44.7 47.2 55.8 63.9

37.4 38.7 39.4 41.2 48.2

47.2 48.9 50.0 50.9 55.5

32.5 33.5 34.1 36.1 44.0

40.1 41.7 42.8 44.2 50.5

38.1 39.6 40.5 42.2 48.8

41.3 43.0 44.2 45.3 51.2

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

58.2 60.8 64.7 69.8 77.6

10.6 4.5 6.4 7.9 11.2

58.2 60.4 64.3 69.4 77.5

69.8 69.6 73.3 79.9 87.3

71.7 76.7 79.5 85.8 92.3

70.3 69.0 72.7 79.4 86.8

53.2 56.5 60.6 64.9 73.5

61.0 63.7 67.4 73.6 80.8

48.9 52.4 56.8 60.0 69.3

58.2 62.1 66.1 71.3 77.5

56.5 60.3 64.5 70.1 77.1

58.9 62.9 66.8 71.8 77.7

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

88.0 96.1 100.0 101.6 103.7

13.4 9.2 4.1 1.6 2.1

88.6 96.6 100.0 101.3 103.3

92.4 97.8 100.0 101.0 105.4

93.9 104.4 100.0 102.4 111.4

92.3 97.2 100.0 100.9 104.9

87.1 96.1 100.0 101.2 102.2

91.0 96.4 100.0 102.8 104.5

85.1 95.8 100.0 100.5 101.1

85.8 94.6 100.0 102.8 105.2

86.0 94.9 100.0 102.3 104.9

85.7 94.4 100.0 103.0 105.4

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

104.7 103.2 105.4 108.0 113.6

1.0 -1.4 2.1 2.5 5.2

103.8 101.4 103.6 106.2 112.1

104.6 107.3 109.5 112.6 118.7

102.9 105.6 107.1 109.8 119.6

104.8 107.4 109.6 112.7 118.6

103.3 98.5 100.7 103.1 108.9

106.5 108.9 111.5 113.8 117.6

101.7 93.3 94.9 97.3 103.8

107.5 109.7 111.7 114.3 118.8

107.4 109.7 111.8 115.5 120.3

107.6 109.7 111.6 113.9 118.2

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

119.2 121.7 123.2 124.7 125.5

4.9 2.1 1.2 1.2 0.6

118.2 120.5 121.7 123.0 123.3

124.4 124.1 123.3 125.7 126.8

123.0 119.3 107.6 114.4 111.3

124.4 124.4 124.4 126.5 127.9

115.3 118.7 120.8 121.7 121.6

120.4 123.9 125.7 128.0 130.9

111.5 115.0 117.3 117.6 116.2

122.9 126.7 129.1 131.4 134.1

124.5 127.8 129.3 131.2 133.2

122.2 126.3 129.0 131.4 134.3

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

127.9 131.3 131.8 130.7 133.0

1.9 2.7 0.4 -0.8 1.8

125.6 129.5 130.2 128.9 132.0

129.0 133.6 134.5 134.3 135.1

118.8 129.2 126.6 127.2 125.5

129.8 133.8 135.1 134.8 135.9

124.0 127.6 128.2 126.4 130.5

132.7 134.2 133.7 132.9 133.0

118.8 123.3 124.3 122.2 127.9

136.7 138.3 138.2 137.6 137.6

135.8 137.2 137.7 137.9 138.5

137.0 138.6 138.4 137.4 137.3

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

138.0 140.7 138.9 143.3 148.5

3.8 2.0 -1.3 3.2 3.6

138.2 141.5 139.4 145.3 151.7

137.2 141.3 140.1 145.9 152.7

123.5 127.7 128.5 130.0 138.2

138.3 142.4 141.0 147.2 153.9

138.4 141.4 138.8 144.7 150.9

133.9 134.0 133.0 133.1 135.0

138.7 142.8 139.8 148.4 156.6

138.8 139.7 139.1 139.5 141.4

139.5 140.4 140.0 139.9 142.4

138.6 139.4 138.7 139.3 141.0

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

145.7 145.6 146.4 147.4 148.3 148.2

0.3 -0.1 0.5 0.7 0.6 -0.1

148.4 148.3 149.2 150.5 151.6 151.3

148.6 148.7 150.8 152.8 154.9 154.3

138.2 136.0 145.7 132.9 132.7 121.4

149.4 149.7 151.2 154.4 156.7 157.1

147.9 147.8 148.2 149.2 149.9 149.8

133.7 133.6 134.4 134.4 135.0 135.6

152.9 152.7 152.8 154.4 155.2 154.6

140.2 139.9 140.4 140.6 140.9 141.4

140.4 140.7 141.3 141.9 142.2 142.5

140.0 139.6 140.0 140.1 140.4 140.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

148.3 148.5 148.9 151.1 152.1 151.7

0.1 0.1 0.3 1.5 0.7 -0.3

151.4 151.5 151.9 154.8 156.1 155.4

152.0 151.7 152.5 154.8 155.2 155.5

122.1 128.3 138.7 158.9 157.4 143.5

154.5 153.6 153.7 154.4 154.9 156.5

150.9 151.1 151.3 154.4 156.0 154.9

134.9 135.1 135.4 135.9 136.2 136.4

156.5 156.9 157.0 161.3 163.5 161.9

141.3 141.8 142.1 142.5 142.8 143.2

142.7 142.9 143.1 143.5 143.6 143.9

140.8 141.4 141.7 142.1 142.4 142.9

. . . = Not available.

197

CHAPTER 8: PRICES Table 8-4. Producer Price Indexes and Purchasing Power of the Dollar—Continued (1982 = 100, seasonally adjusted.) Intermediate materials, supplies, and components Materials and components for manufacturing Year and month Total Total

Materials for food manufacturing

Materials Materials for for durable nondurable manumanufacturing facturing

Components for manufacturing

Materials and components for construction

Processed fuels and lubricants

Total

Manufacturing industries

Supplies

Containers, Nonmanu- nonreturnfacturing able industries

Total

Manufacturing industries

1947 ................................. 1948 ................................. 1949 .................................

23.3 25.2 24.2

24.9 26.8 25.7

36.9 38.0 32.7

33.5 35.4 32.3

17.5 19.8 20.4

21.3 23.0 23.4

22.5 24.9 24.9

14.4 16.4 14.9

17.3 19.3 17.6

12.5 14.5 13.2

23.4 24.4 24.5

28.5 29.8 28.0

23.4 24.7 24.6

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

25.3 28.4 27.5 27.7 27.9

26.9 30.5 29.3 29.7 29.8

34.0 37.9 36.4 36.5 36.1

33.9 39.3 35.4 35.1 34.5

21.5 23.9 24.0 25.0 25.6

24.3 27.6 27.6 28.1 28.3

26.2 28.7 28.5 29.0 29.1

15.2 15.9 15.7 15.8 15.8

17.9 18.7 18.5 18.5 18.5

13.6 14.1 13.9 14.2 14.1

25.2 29.6 28.0 28.0 28.5

29.0 32.6 32.6 31.0 31.7

26.3 29.3 28.5 28.7 29.1

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

28.4 29.6 30.3 30.4 30.8

30.5 32.0 32.7 32.8 33.3

35.0 35.2 35.8 36.6 35.3

34.7 35.2 35.7 35.3 35.9

26.9 28.5 29.5 29.7 30.4

29.5 32.2 33.5 33.8 34.2

30.3 31.8 32.0 32.0 32.9

15.8 16.3 17.2 16.2 16.2

18.5 19.1 20.1 19.1 19.1

14.2 14.6 15.6 14.5 14.3

28.9 31.0 32.4 33.2 33.0

31.2 32.0 32.3 33.1 33.5

30.8 32.2 33.4 33.9 34.8

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

30.8 30.6 30.6 30.7 30.8

33.3 32.9 32.7 32.7 33.1

35.7 36.9 36.1 37.9 37.3

35.9 35.1 34.9 34.6 34.8

30.4 30.0 30.0 30.0 30.6

34.0 33.7 33.4 33.4 33.7

32.7 32.2 32.1 32.2 32.5

16.6 16.8 16.7 16.6 16.2

19.7 19.9 19.9 19.8 19.4

14.6 14.8 14.7 14.5 14.1

33.4 33.2 33.6 33.2 32.9

33.3 33.7 34.5 35.0 34.7

36.2 35.8 36.0 35.8 35.9

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

31.2 32.0 32.2 33.0 34.1

33.6 34.3 34.5 35.3 36.5

38.3 40.0 39.2 39.8 42.0

35.2 35.4 35.2 35.6 36.0

31.2 31.8 32.3 33.4 35.2

34.2 35.4 36.5 37.3 38.5

32.8 33.6 34.0 35.7 37.7

16.5 16.8 16.9 16.5 16.6

19.6 19.9 20.1 19.8 20.0

14.4 14.7 14.8 14.2 14.4

33.5 34.5 35.0 35.9 37.2

35.0 36.5 36.8 37.1 37.8

36.1 37.1 37.6 38.7 39.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

35.4 36.8 38.2 42.4 52.5

38.0 38.9 40.4 44.1 56.0

44.3 45.7 47.0 57.2 82.0

36.5 37.0 38.5 42.6 54.6

37.0 38.1 39.9 43.1 55.4

40.6 41.9 42.9 44.3 51.1

38.3 40.8 43.0 46.5 55.0

17.7 19.5 20.1 22.2 33.6

21.5 23.6 24.5 26.4 35.5

15.2 16.6 16.9 19.4 32.7

39.0 40.8 42.7 45.2 53.3

39.7 40.8 42.5 51.7 56.8

41.4 42.5 43.3 45.6 53.3

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

58.0 60.9 64.9 69.5 78.4

61.7 64.0 67.4 72.0 80.9

82.1 70.6 71.9 81.0 89.9

61.4 64.8 66.8 69.2 78.3

60.8 64.8 70.2 76.2 87.3

57.8 60.8 64.5 69.2 75.8

60.1 64.1 69.3 76.5 84.2

39.4 42.3 47.7 49.9 61.6

41.9 44.8 51.0 53.7 64.3

38.0 41.1 46.2 48.1 60.4

60.0 63.1 65.9 71.0 79.4

61.8 65.8 69.3 72.9 80.2

59.4 62.6 66.6 71.2 78.1

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

90.3 98.6 100.0 100.6 103.1

91.7 98.7 100.0 101.2 104.1

103.7 102.1 100.0 101.3 106.3

91.2 100.5 100.0 98.5 102.1

97.1 100.7 100.0 103.0 104.9

84.6 94.7 100.0 102.4 105.0

91.3 97.9 100.0 102.8 105.6

85.0 100.6 100.0 95.4 95.7

85.5 100.2 100.0 96.2 97.1

84.7 101.0 100.0 94.9 94.6

89.1 96.7 100.0 100.4 105.9

89.9 96.9 100.0 101.8 104.1

87.2 95.2 100.0 101.5 105.0

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

102.7 99.1 101.5 107.1 112.0

103.3 102.2 105.3 113.2 118.1

101.5 98.4 100.8 106.0 112.7

100.5 98.1 102.2 112.9 118.5

103.3 101.2 106.2 118.7 123.6

106.4 107.5 108.8 112.3 116.4

107.3 108.1 109.8 116.1 121.3

92.8 72.7 73.3 71.2 76.4

93.8 75.1 75.9 73.3 78.3

92.0 71.2 71.7 69.9 75.3

109.0 110.3 114.5 120.1 125.4

104.4 105.6 107.7 113.7 118.1

107.3 108.3 110.0 114.8 119.8

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

114.5 114.4 114.7 116.2 118.5

118.7 118.1 117.9 118.9 122.1

117.9 115.3 113.9 115.6 118.5

118.0 116.7 115.4 115.5 119.2

120.7 117.2 117.2 119.1 125.2

119.0 121.0 122.0 123.0 124.3

122.9 124.5 126.5 132.0 136.6

85.9 85.3 84.5 84.7 83.1

87.3 88.4 87.5 88.1 86.1

85.0 83.4 82.6 82.6 81.1

127.7 128.1 127.7 126.4 129.7

119.4 121.4 122.7 125.0 127.0

122.1 124.4 125.9 128.5 130.7

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

124.9 125.7 125.6 123.0 123.2

130.4 128.6 128.3 126.1 124.6

119.5 125.3 123.2 123.2 120.8

135.1 130.5 129.6 126.7 124.9

135.6 131.3 132.8 128.0 125.1

126.5 126.9 126.4 125.9 125.7

142.1 143.6 146.5 146.8 148.9

84.2 90.0 89.3 81.1 84.6

87.1 92.4 92.0 85.8 87.9

82.3 88.4 87.6 78.1 82.5

148.8 141.1 136.0 140.8 142.5

132.1 135.9 135.9 134.8 134.2

137.0 138.7 139.4 140.6 140.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

129.2 129.7 127.8 133.7 142.6

128.1 127.4 126.1 129.7 137.9

119.2 124.3 123.2 134.4 145.0

132.6 131.8 129.2 137.2 147.8

129.0 125.1 124.7 127.9 146.6

126.2 126.4 126.1 125.9 127.4

150.7 150.6 151.3 153.6 166.4

102.0 104.5 96.3 112.6 124.3

100.9 105.7 98.7 116.0 125.1

102.3 103.5 94.8 110.5 123.8

151.6 153.1 152.1 153.7 159.3

136.9 138.7 138.9 141.5 146.7

143.5 145.4 144.7 146.5 149.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

136.3 137.5 138.4 140.3 141.7 142.2

131.9 133.2 134.2 136.1 137.3 137.6

139.5 140.0 142.2 146.6 151.5 150.8

140.1 140.9 141.2 143.5 144.6 145.9

133.1 137.4 140.6 144.0 146.6 145.6

125.9 126.2 126.5 127.0 127.2 127.5

156.3 159.2 161.9 164.5 166.7 166.8

117.2 117.6 117.4 119.3 121.1 122.4

119.9 120.1 119.7 120.9 122.0 124.8

115.6 116.0 116.1 118.3 120.6 120.9

153.8 153.6 154.1 154.8 156.7 158.9

143.2 143.8 144.8 146.3 147.2 147.3

146.9 147.1 147.5 147.8 148.2 148.8

July .............................. August .......................... September ................... October ........................ November .................... December ....................

143.1 144.6 145.1 146.6 147.7 147.8

138.0 139.3 140.7 141.5 142.1 143.0

146.3 144.1 144.1 144.1 144.5 146.2

147.3 149.9 152.6 154.6 155.6 156.8

147.1 150.1 152.1 153.0 153.9 155.7

127.4 127.7 128.0 128.2 128.4 128.6

167.3 169.7 170.8 170.9 170.8 171.5

124.7 127.6 125.9 130.9 135.0 132.5

125.0 127.5 125.6 128.0 134.7 133.0

124.5 127.7 126.1 132.8 135.3 132.2

159.7 162.0 163.6 164.7 165.0 165.3

148.0 147.6 148.0 148.0 148.2 148.5

149.4 149.6 150.3 151.3 151.7 152.3

198

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-4. Producer Price Indexes and Purchasing Power of the Dollar—Continued (1982 = 100, seasonally adjusted.) Intermediate materials, supplies, and components—Continued

Crude materials for further processing Nonfood materials

Supplies—Continued Year and month Nonmanufacturing industries Total

Feeds

Total

Foodstuffs and feedstuffs

Nonfood materials except fuel Total

Other supplies

Total

Manufacturing

Crude fuel

Construction

Manufacturing industries

Total

Nonmanufacturing industries

1947 ................................. 1948 ................................. 1949 .................................

31.8 33.1 30.4

60.8 61.8 52.5

26.5 27.9 26.7

31.7 34.7 30.1

45.1 48.8 40.5

... ... ...

24.0 26.7 24.3

24.0 26.7 24.1

23.5 25.7 26.6

7.5 8.9 8.8

6.5 7.7 7.6

8.5 10.0 9.9

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

31.0 35.1 35.5 32.8 33.7

52.5 58.5 63.5 51.9 56.2

27.5 31.3 30.7 30.1 30.1

32.7 37.6 34.5 31.9 31.6

43.4 50.2 47.3 42.3 42.3

... ... ... ... ...

27.8 32.0 27.8 26.6 26.1

27.7 32.1 27.6 26.3 25.8

26.9 28.5 28.5 29.6 30.5

8.8 9.0 9.0 9.3 8.9

7.6 7.7 7.7 8.0 7.6

9.9 10.1 10.2 10.6 10.1

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

31.8 32.3 32.1 32.8 33.1

44.7 42.5 39.4 42.7 43.6

30.7 31.9 32.6 32.8 32.8

30.4 30.6 31.2 31.9 31.1

38.4 37.6 39.2 41.6 38.8

... ... ... ... ...

27.5 28.6 28.2 27.1 28.1

27.3 28.3 27.8 26.6 27.6

31.5 32.9 34.3 35.1 35.4

8.9 9.5 10.1 10.2 10.4

7.6 8.2 8.7 8.8 8.9

10.1 10.7 11.4 11.5 11.7

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

32.1 32.9 33.8 34.6 34.1

37.2 40.9 43.6 45.9 45.0

33.2 32.9 33.2 33.2 32.9

30.4 30.2 30.5 29.9 29.6

38.4 37.9 38.6 37.5 36.6

... ... ... ... ...

26.9 27.2 27.1 26.7 27.2

26.3 26.6 26.5 26.1 26.6

35.9 35.9 36.1 36.0 35.9

10.5 10.5 10.4 10.5 10.5

9.0 9.0 8.9 9.0 9.0

11.8 11.8 11.8 11.9 11.9

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

34.5 36.2 36.3 36.4 36.9

45.9 50.0 48.3 46.5 46.4

33.0 33.8 34.5 35.4 36.0

31.1 33.1 31.3 31.8 33.9

39.2 42.7 40.3 40.9 44.1

... ... 21.1 21.6 22.5

27.7 28.3 26.5 27.1 28.4

27.2 27.8 25.8 26.3 27.6

36.1 36.3 37.0 38.4 39.8

10.6 10.9 11.3 11.5 12.0

9.0 9.3 9.7 9.9 10.2

11.9 12.3 12.8 13.1 13.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

38.9 39.9 42.0 54.7 58.4

49.9 50.4 56.1 97.3 90.2

37.6 38.9 39.8 42.7 50.5

35.2 36.0 39.9 54.5 61.4

45.2 46.1 51.5 72.6 76.4

23.8 24.7 27.0 34.3 44.1

29.1 29.4 32.3 42.9 54.5

28.3 28.4 31.5 42.7 55.0

42.1 44.1 45.0 46.2 50.0

13.8 15.7 16.8 18.6 24.8

11.3 12.6 13.5 14.8 19.1

16.6 19.3 20.6 22.9 31.8

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

62.9 67.3 70.7 73.8 81.2

84.0 95.1 99.3 95.5 106.9

58.9 62.0 65.2 69.7 76.3

61.6 63.4 65.5 73.4 85.9

77.4 76.8 77.5 87.3 100.0

43.7 48.2 51.7 57.5 69.6

50.0 54.9 56.3 61.9 75.5

49.7 54.7 56.0 61.5 75.6

55.9 59.6 63.1 68.7 76.6

30.6 34.5 42.0 48.2 57.3

24.4 29.0 37.2 43.1 53.1

38.0 40.5 47.4 53.8 62.0

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

91.1 97.8 100.0 102.0 103.7

110.6 111.3 100.0 109.1 104.2

87.5 95.4 100.0 101.0 103.7

95.3 103.0 100.0 101.3 103.5

104.6 103.9 100.0 101.8 104.7

84.6 101.8 100.0 100.7 102.2

91.8 109.8 100.0 98.8 101.0

92.3 110.9 100.0 98.6 100.8

87.9 96.8 100.0 100.1 103.1

69.4 84.8 100.0 105.1 105.1

66.7 83.6 100.0 105.8 105.6

72.5 86.2 100.0 104.4 104.6

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

103.0 104.2 106.6 113.2 117.2

86.6 90.5 94.6 115.0 114.4

105.3 106.2 108.3 112.7 117.5

95.8 87.7 93.7 96.0 103.1

94.8 93.2 96.2 106.1 111.2

96.9 81.6 87.9 85.5 93.4

94.3 76.0 88.5 85.9 95.8

93.1 72.6 84.7 81.5 91.0

105.7 106.5 114.8 126.5 136.9

102.7 92.2 84.1 82.1 85.3

102.7 91.1 82.1 80.1 83.9

102.5 93.6 86.3 84.5 87.0

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

118.0 119.9 121.1 123.2 125.1

102.8 101.3 103.0 105.4 105.8

120.2 122.5 123.7 125.8 127.9

108.9 101.2 100.4 102.4 101.8

113.1 105.5 105.1 108.4 106.5

101.5 94.6 93.5 94.7 94.8

107.3 97.5 94.2 94.1 97.0

102.5 92.2 87.9 85.6 88.3

145.2 147.5 162.1 193.6 199.1

84.8 82.9 84.0 87.1 82.4

82.9 82.3 83.1 85.9 81.7

87.0 84.1 85.2 88.6 83.6

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

129.5 134.4 134.1 132.2 131.4

103.4 133.1 129.1 100.2 89.2

133.2 134.6 134.8 136.2 136.5

102.7 113.8 111.1 96.8 98.2

105.8 121.5 112.2 103.9 98.7

96.8 104.5 106.4 88.4 94.3

105.8 105.7 103.5 84.5 91.1

97.3 97.6 95.0 76.7 83.0

201.7 195.7 201.4 196.0 195.7

72.1 92.6 101.3 86.7 91.2

72.5 90.7 98.4 84.8 90.0

72.9 94.3 103.3 88.5 92.9

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

134.1 135.8 136.3 139.0 144.9

94.6 96.8 98.1 106.6 119.1

138.8 140.5 140.9 143.1 148.4

120.6 121.0 108.1 135.3 159.0

100.2 106.1 99.5 113.5 127.0

130.4 126.8 111.4 148.2 179.2

118.0 101.5 101.0 116.9 149.2

108.7 93.2 92.5 107.5 137.7

193.4 181.7 181.4 180.8 191.8

136.9 151.4 117.3 185.7 211.4

136.9 150.2 113.4 176.4 200.5

139.3 154.2 119.8 189.9 216.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

141.0 141.8 142.9 144.8 145.7 145.8

117.7 120.3 125.3 134.3 136.1 128.6

144.3 144.8 145.5 146.7 147.5 148.3

148.9 150.2 152.8 155.4 160.6 161.9

119.2 123.2 132.2 135.7 138.8 135.1

167.6 166.6 164.0 165.9 172.6 177.9

133.6 136.7 142.6 140.4 140.9 136.6

123.1 126.0 131.5 129.4 129.9 125.9

186.2 187.4 189.3 189.8 190.6 192.4

207.9 200.2 182.9 191.8 208.4 229.8

197.2 190.2 174.2 182.6 197.9 217.6

212.7 204.7 187.0 196.1 213.1 235.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

146.4 145.9 146.2 146.0 146.1 146.3

129.8 116.9 112.4 105.4 102.5 100.3

149.0 149.7 150.5 151.0 151.4 151.9

162.0 161.5 154.2 160.8 173.0 167.6

129.9 123.4 121.7 119.9 121.2 123.9

182.1 186.4 174.9 188.0 208.4 196.7

148.7 158.5 156.8 172.5 167.3 157.0

137.2 146.4 144.8 159.4 154.6 145.0

193.6 194.0 194.2 195.2 195.6 193.9

219.9 214.0 186.9 194.1 256.8 243.8

208.4 202.9 178.0 184.7 242.4 230.4

225.0 218.9 191.1 198.5 262.8 249.5

. . . = Not available.

199

CHAPTER 8: PRICES Table 8-4. Producer Price Indexes and Purchasing Power of the Dollar—Continued (1982 = 100, seasonally adjusted.) Special groupings Finished goods excluding: Year and month

Finished energy goods

Finished consumer goods excluding:

Intermediate materials

Crude materials

Intermediate materials less: Foods

Energy

Foods and energy

Energy

Foods and energy

Foods and feeds

Energy goods

Foods and feeds

Energy

Energy Foods and materials energy

Less energy

Nonfood materials less energy

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

22.2 24.1 23.5

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

24.6 27.6 26.7 27.0 27.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

28.0 29.3 30.1 30.1 30.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

30.7 30.3 30.2 30.1 30.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... 35.0 35.9 36.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... 41.8 41.5 42.9

... ... ... ... ...

30.7 31.3 31.7 32.5 33.6

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

... ... ... ... 26.2

38.2 39.6 40.4 42.0 48.8

... ... ... ... ...

... ... ... 48.1 53.6

... ... ... ... 58.7

... ... ... 50.4 55.5

45.6 46.7 49.5 70.3 83.6

... ... ... ... 33.1

34.8 36.2 37.7 40.6 50.5

... ... ... ... 56.2

... ... ... 44.3 54.0

... ... ... ... 27.8

... ... ... ... 78.4

... ... ... 70.8 83.3

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

30.7 34.3 39.7 42.3 57.1

54.7 58.1 62.2 66.7 74.6

62.4 64.8 68.6 74.0 80.7

59.7 63.1 66.9 71.9 78.3

63.9 65.7 69.4 74.9 81.7

60.6 63.7 67.3 72.2 78.8

81.6 77.4 79.6 84.8 94.5

38.7 41.5 46.8 49.1 61.1

56.6 60.0 64.1 68.6 77.4

61.7 64.7 68.5 73.4 81.7

60.2 63.8 67.6 72.5 80.7

33.3 35.3 40.4 45.2 54.9

75.9 77.6 78.1 87.5 101.5

69.3 80.2 79.8 87.8 106.2

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

85.2 101.5 100.0 95.2 91.2

86.7 95.6 100.0 101.8 103.2

88.4 95.4 100.0 102.5 105.5

87.1 94.6 100.0 103.0 105.5

89.3 95.7 100.0 102.4 105.6

87.8 94.6 100.0 103.1 105.7

105.5 104.6 100.0 103.6 105.7

84.9 100.5 100.0 95.3 95.5

89.4 98.2 100.0 100.5 103.0

91.4 98.2 100.0 101.7 104.6

90.3 97.7 100.0 101.6 104.7

73.1 97.7 100.0 98.7 98.0

106.5 105.7 100.0 102.6 106.3

113.1 111.7 100.0 105.3 111.7

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

87.6 63.0 61.8 59.8 65.7

104.6 101.9 104.0 106.5 111.8

107.2 109.7 112.3 115.8 121.2

108.1 110.6 113.3 117.0 122.1

107.0 109.7 112.5 116.3 122.1

108.4 111.1 114.2 118.5 124.0

97.3 96.2 99.2 109.5 113.8

92.6 72.6 73.0 70.9 76.1

103.0 99.3 101.7 106.9 111.9

104.7 104.5 107.3 114.6 119.5

105.2 104.9 107.8 115.2 120.2

93.3 71.8 75.0 67.7 75.9

97.0 95.4 100.9 112.6 117.7

104.9 103.1 115.7 133.0 137.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

75.0 78.1 77.8 78.0 77.0

117.4 120.9 123.1 124.4 125.1

126.0 129.1 131.1 132.9 134.2

126.6 131.1 134.2 135.8 137.1

127.2 130.0 131.8 133.5 134.2

128.8 133.7 137.3 138.5 139.0

113.3 111.1 110.7 112.7 114.8

85.5 85.1 84.3 84.6 83.0

114.5 114.6 114.9 116.4 118.7

120.4 120.8 121.3 123.2 126.3

120.9 121.4 122.0 123.8 127.1

85.9 80.4 78.8 76.7 72.1

118.6 110.9 110.7 116.3 119.3

136.3 128.2 128.4 140.2 156.2

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

78.1 83.2 83.4 75.1 78.8

127.5 130.5 130.9 129.5 132.3

136.9 139.6 140.2 141.1 143.0

140.0 142.0 142.4 143.7 146.1

136.9 140.1 141.0 142.5 145.2

141.9 144.3 145.1 147.7 151.7

114.8 128.1 125.4 116.2 111.1

84.1 89.8 89.0 80.8 84.3

125.5 125.6 125.7 123.4 123.9

134.0 133.6 133.7 132.4 131.7

135.2 134.0 134.2 133.5 133.1

69.4 85.0 87.3 68.6 78.5

123.5 130.0 123.5 113.6 107.9

173.6 155.8 156.5 142.1 135.2

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

94.1 96.7 88.8 102.0 113.0

138.1 140.4 138.3 142.4 147.2

144.9 147.6 147.3 149.0 152.4

148.0 150.0 150.2 150.5 152.7

147.4 150.8 150.8 153.1 157.2

154.0 156.9 157.6 157.9 160.3

111.7 115.9 115.5 125.9 137.1

101.7 104.1 95.9 111.9 123.2

130.1 130.5 128.5 134.2 143.0

135.0 135.1 134.5 137.7 145.8

136.6 136.4 135.8 138.5 146.5

122.1 122.3 102.0 147.2 174.6

111.7 112.2 108.7 123.4 144.0

145.2 130.7 135.7 152.5 193.0

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

107.9 107.5 107.8 109.7 111.2 110.3

144.8 144.6 145.0 145.8 146.3 146.4

150.4 150.4 151.2 152.0 152.7 152.8

151.4 151.3 151.7 152.1 152.3 152.7

154.9 154.9 156.0 156.9 157.8 157.8

159.0 159.1 159.5 159.8 160.0 160.3

132.9 134.1 137.3 143.2 147.1 144.2

116.2 116.6 116.4 118.2 120.0 121.2

136.6 137.7 138.6 140.3 141.6 142.3

139.9 141.2 142.4 144.3 145.6 145.9

140.4 141.7 142.8 144.5 145.6 146.1

163.5 158.9 153.0 158.8 172.1 180.0

134.9 139.9 147.8 148.3 148.1 145.3

179.9 187.8 192.7 185.3 176.7 176.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

113.1 113.4 113.2 119.6 122.8 119.8

147.1 147.5 147.7 149.8 151.0 150.4

152.1 152.3 152.8 153.7 154.1 154.4

152.5 152.9 153.3 153.7 154.1 154.4

156.8 156.9 157.5 158.6 159.0 159.4

160.1 160.4 160.8 161.3 161.7 162.0

141.6 135.8 134.3 131.9 131.2 131.7

123.4 126.2 124.8 130.0 133.7 131.8

143.3 145.1 145.7 147.4 148.6 148.6

146.4 147.5 148.5 149.0 149.5 150.1

146.8 148.3 149.5 150.2 150.7 151.3

177.9 181.9 166.6 181.8 208.3 192.7

146.7 143.3 141.4 142.4 145.1 146.3

195.1 199.9 197.4 205.9 212.3 209.4

. . . = Not available.

200

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-4. Producer Price Indexes and Purchasing Power of the Dollar—Continued (1982 = 100, except as noted; not seasonally adjusted.) Finished goods

Purchasing power of the dollar

Finished consumer goods Consumer goods except foods

Year and month Total Total

Foods Total

Durable goods

Nondurable goods less foods

Capital equipment

Intermediate materials, supplies, and components

Crude materials for further processing

Producer prices for finished goods (1982–1984 = $1.00)

Consumer prices (CPI-U, 1982–1984 = $1.00)

1947 ................................. 1948 ................................. 1949 .................................

26.4 28.5 27.7

28.6 30.8 29.4

31.9 34.9 32.1

27.4 29.2 28.6

32.9 35.2 36.1

24.2 25.7 24.7

19.8 21.6 22.7

23.3 25.2 24.2

31.7 34.7 30.1

3.855 3.571 3.674

4.484 4.149 4.202

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

28.2 30.8 30.6 30.3 30.4

29.9 32.7 32.3 31.7 31.7

32.7 36.7 36.4 34.5 34.2

29.0 31.1 30.7 31.0 31.1

36.5 38.9 39.2 39.5 39.8

25.1 27.0 26.3 26.6 26.7

23.2 25.5 25.9 26.3 26.7

25.3 28.4 27.5 27.7 27.9

32.7 37.6 34.5 31.9 31.6

3.609 3.304 3.326 3.359 3.348

4.149 3.846 3.774 3.745 3.717

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

30.5 31.3 32.5 33.2 33.1

31.5 32.0 32.9 33.6 33.3

33.4 33.3 34.4 36.5 34.8

31.3 32.1 32.9 32.9 33.3

40.2 41.6 42.8 43.4 43.9

26.8 27.3 27.9 27.8 28.2

27.4 29.5 31.3 32.1 32.7

28.4 29.6 30.3 30.4 30.8

30.4 30.6 31.2 31.9 31.1

3.337 3.251 3.131 3.065 3.075

3.731 3.676 3.559 3.460 3.436

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

33.4 33.4 33.5 33.4 33.5

33.6 33.6 33.7 33.5 33.6

35.5 35.4 35.7 35.3 35.4

33.5 33.4 33.4 33.4 33.3

43.8 43.6 43.4 43.1 43.3

28.4 28.4 28.4 28.5 28.4

32.8 32.9 33.0 33.1 33.4

30.8 30.6 30.6 30.7 30.8

30.4 30.2 30.5 29.9 29.6

3.047 3.047 3.038 3.047 3.038

3.378 3.344 3.311 3.268 3.226

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

34.1 35.2 35.6 36.6 38.0

34.2 35.4 35.6 36.5 37.9

36.8 39.2 38.5 40.0 42.4

33.6 34.1 34.7 35.5 36.3

43.2 43.4 44.1 45.1 45.9

28.8 29.3 30.0 30.6 31.5

33.8 34.6 35.8 37.0 38.3

31.2 32.0 32.2 33.0 34.1

31.1 33.1 31.3 31.8 33.9

2.984 2.891 2.859 2.781 2.678

3.175 3.086 2.994 2.874 2.725

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

39.3 40.5 41.8 45.6 52.6

39.1 40.2 41.5 46.0 53.1

43.8 44.5 46.9 56.5 64.4

37.4 38.7 39.4 41.2 48.2

47.2 48.9 50.0 50.9 55.5

32.5 33.5 34.1 36.1 44.0

40.1 41.7 42.8 44.2 50.5

35.4 36.8 38.2 42.4 52.5

35.2 36.0 39.9 54.5 61.4

2.589 2.513 2.435 2.232 1.935

2.577 2.469 2.392 2.252 2.028

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

58.2 60.8 64.7 69.8 77.6

58.2 60.4 64.3 69.4 77.5

69.8 69.6 73.3 79.9 87.3

53.2 56.5 60.6 64.9 73.5

61.0 63.7 67.4 73.6 80.8

48.9 52.4 56.8 60.0 69.3

58.2 62.1 66.1 71.3 77.5

58.0 60.9 64.9 69.5 78.4

61.6 63.4 65.5 73.4 85.9

1.749 1.674 1.573 1.458 1.311

1.859 1.757 1.650 1.534 1.377

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

88.0 96.1 100.0 101.6 103.7

88.6 96.6 100.0 101.3 103.3

92.4 97.8 100.0 101.0 105.4

87.1 96.1 100.0 101.2 102.2

91.0 96.4 100.0 102.8 104.5

85.1 95.8 100.0 100.5 101.1

85.8 94.6 100.0 102.8 105.2

90.3 98.6 100.0 100.6 103.1

95.3 103.0 100.0 101.3 103.5

1.156 1.059 1.018 1.002 0.981

1.214 1.100 1.036 1.004 0.962

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

104.7 103.2 105.4 108.0 113.6

103.8 101.4 103.6 106.2 112.1

104.6 107.3 109.5 112.6 118.7

103.3 98.5 100.7 103.1 108.9

106.5 108.9 111.5 113.8 117.6

101.7 93.3 94.9 97.3 103.8

107.5 109.7 111.7 114.3 118.8

102.7 99.1 101.5 107.1 112.0

95.8 87.7 93.7 96.0 103.1

0.972 0.986 0.966 0.942 0.896

0.929 0.912 0.880 0.845 0.806

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

119.2 121.7 123.2 124.7 125.5

118.2 120.5 121.7 123.0 123.3

124.4 124.1 123.3 125.7 126.8

115.3 118.7 120.8 121.7 121.6

120.4 123.9 125.7 128.0 130.9

111.5 115.0 117.3 117.6 116.2

122.9 126.7 129.1 131.4 134.1

114.5 114.4 114.7 116.2 118.5

108.9 101.2 100.4 102.4 101.8

0.854 0.836 0.826 0.816 0.811

0.765 0.734 0.713 0.692 0.675

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

127.9 131.3 131.8 130.7 133.0

125.6 129.5 130.2 128.9 132.0

129.0 133.6 134.5 134.3 135.1

124.0 127.6 128.2 126.4 130.5

132.7 134.2 133.7 132.9 133.0

118.8 123.3 124.3 122.2 127.9

136.7 138.3 138.2 137.6 137.6

124.9 125.7 125.6 123.0 123.2

102.7 113.8 111.1 96.8 98.2

0.796 0.775 0.772 0.779 0.765

0.656 0.637 0.623 0.613 0.600

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

138.0 140.7 138.9 143.3 148.5

138.2 141.5 139.4 145.3 151.7

137.2 141.3 140.1 145.9 152.7

138.4 141.4 138.8 144.7 150.9

133.9 134.0 133.0 133.1 135.0

138.7 142.8 139.8 148.4 156.6

138.8 139.7 139.1 139.5 141.4

129.2 129.7 127.8 133.7 142.6

120.6 121.0 108.1 135.3 159.0

0.737 0.723 0.733 0.710 0.685

0.581 0.565 0.556 0.543 0.529

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

145.4 145.3 146.3 147.3 148.9 148.7

147.8 147.8 149.0 150.4 152.5 152.0

148.1 148.4 150.7 152.7 155.5 155.0

147.4 147.3 148.0 149.1 150.9 150.5

134.3 134.2 134.7 134.4 134.8 134.9

151.7 151.6 152.4 154.3 156.7 156.0

140.5 140.2 140.5 140.6 140.8 141.1

136.2 137.3 138.3 140.2 142.0 142.8

147.8 150.1 152.9 155.7 161.8 163.0

0.700 0.700 0.696 0.691 0.683 0.684

0.540 0.537 0.534 0.532 0.529 0.527

July .............................. August .......................... September ................... October ........................ November .................... December ....................

148.5 148.5 148.7 152.0 151.7 150.6

151.9 151.8 152.1 155.7 155.4 153.8

152.3 152.2 152.7 155.1 154.7 154.9

151.4 151.3 151.5 155.6 155.3 153.0

133.6 133.6 133.5 137.8 137.4 137.2

158.0 157.9 158.2 162.1 161.8 158.5

140.7 141.2 141.2 143.4 143.4 143.6

143.5 144.8 145.3 146.5 147.4 146.9

162.5 162.2 154.4 160.5 171.5 165.7

0.685 0.685 0.684 0.670 0.671 0.676

0.528 0.528 0.527 0.524 0.524 0.525

201

CHAPTER 8: PRICES Table 8-5. Producer Price Indexes by Major Commodity Groups (1982 = 100, not seasonally adjusted.) Industrial commodities

Year and month

All comFarm modities products

Processed foods and feeds

Total

Fuels Hides, Pulp, Machin- Furniture and Textile Chemi- Rubber Lumber Metals Nonme- Transleather, paper, ery and and Miscelrelated cals and products and and and tallic portation and and metal houselaneous products related plastics and wood metal mineral equiprelated allied equiphold products and apparel products products products products products ment products products ment durables power

1947 .................... 1948 .................... 1949 ....................

25.6 27.7 26.3

45.1 48.5 41.9

33.0 35.3 32.1

22.7 24.6 24.1

50.6 52.8 48.3

31.7 32.1 30.4

11.1 13.1 12.4

32.1 32.8 30.0

29.2 30.2 29.2

25.8 29.5 27.3

25.1 26.2 25.1

18.2 20.7 20.9

19.3 20.9 21.9

37.2 39.4 40.1

20.7 22.4 23.0

... ... ...

26.6 27.7 28.2

1950 1951 1952 1953 1954

.................... .................... .................... .................... ....................

27.3 30.4 29.6 29.2 29.3

44.0 51.2 48.4 43.8 43.2

33.2 36.9 36.4 34.8 35.4

25.0 27.6 26.9 27.2 27.2

50.2 56.0 50.5 49.3 48.2

32.9 37.7 30.5 31.0 29.5

12.6 13.0 13.0 13.4 13.2

30.4 34.8 33.0 33.4 33.8

35.6 43.7 39.6 36.9 37.5

31.4 34.1 33.2 33.1 32.5

25.7 30.5 29.7 29.6 29.6

22.0 24.5 24.5 25.3 25.5

22.6 25.3 25.3 25.9 26.3

40.9 44.4 43.5 44.4 44.9

23.5 25.0 25.0 26.0 26.6

... ... ... ... ...

28.6 30.3 30.2 31.0 31.3

1955 1956 1957 1958 1959

.................... .................... .................... .................... ....................

29.3 30.3 31.2 31.6 31.7

40.5 40.0 41.1 42.9 40.2

33.8 33.8 34.8 36.5 35.6

27.8 29.1 29.9 30.0 30.5

48.2 48.2 48.3 47.4 48.1

29.4 31.2 31.2 31.6 35.9

13.2 13.6 14.3 13.7 13.7

33.7 33.9 34.6 34.9 34.8

42.4 43.0 42.8 42.8 42.6

34.1 34.6 32.8 32.5 34.7

30.4 32.4 33.0 33.4 33.7

27.2 29.6 30.2 30.0 30.6

27.2 29.3 31.4 32.1 32.8

45.1 46.3 47.5 47.9 48.0

27.3 28.5 29.6 29.9 30.3

... ... ... ... ...

31.3 31.7 32.6 33.3 33.4

1960 1961 1962 1963 1964

.................... .................... .................... .................... ....................

31.7 31.6 31.7 31.6 31.6

40.1 39.7 40.4 39.6 39.0

35.6 36.2 36.5 36.8 36.7

30.5 30.4 30.4 30.3 30.5

48.6 47.8 48.2 48.2 48.5

34.6 34.9 35.3 34.3 34.4

13.9 14.0 14.0 13.9 13.5

34.8 34.5 33.9 33.5 33.6

42.7 41.1 39.9 40.1 39.6

33.5 32.0 32.2 32.8 33.5

34.0 33.0 33.4 33.1 33.0

30.6 30.5 30.2 30.3 31.1

33.0 33.0 33.0 33.1 33.3

47.8 47.5 47.2 46.9 47.1

30.4 30.5 30.5 30.3 30.4

... ... ... ... ...

33.6 33.7 33.9 34.2 34.4

1965 1966 1967 1968 1969

.................... .................... .................... .................... ....................

32.3 33.3 33.4 34.2 35.6

40.7 43.7 41.3 42.3 45.0

38.0 40.2 39.8 40.6 42.7

30.9 31.5 32.0 32.8 33.9

48.8 48.9 48.9 50.7 51.8

35.9 39.4 38.1 39.3 41.5

13.8 14.1 14.4 14.3 14.6

33.9 34.0 34.2 34.1 34.2

39.7 40.5 41.4 42.8 43.6

33.7 35.2 35.1 39.8 44.0

33.3 34.2 34.6 35.0 36.0

32.0 32.8 33.2 34.0 36.0

33.7 34.7 35.9 37.0 38.2

46.8 47.4 48.3 49.7 50.7

30.4 30.7 31.2 32.4 33.6

... ... ... ... 40.4

34.7 35.3 36.2 37.0 38.1

1970 1971 1972 1973 1974

.................... .................... .................... .................... ....................

36.9 38.1 39.8 45.0 53.5

45.8 46.6 51.6 72.7 77.4

44.6 45.5 48.0 58.9 68.0

35.2 36.5 37.8 40.3 49.2

52.4 53.3 55.5 60.5 68.0

42.0 43.4 50.0 54.5 55.2

15.3 16.6 17.1 19.4 30.1

35.0 35.6 35.6 37.6 50.2

44.9 45.2 45.3 46.6 56.4

39.9 44.7 50.7 62.2 64.5

37.5 38.1 39.3 42.3 52.5

38.7 39.4 40.9 44.0 57.0

40.0 41.4 42.3 43.7 50.0

51.9 53.1 53.8 55.7 61.8

35.3 38.2 39.4 40.7 47.8

41.9 44.2 45.5 46.1 50.3

39.8 40.8 41.5 43.3 48.1

1975 1976 1977 1978 1979

.................... .................... .................... .................... ....................

58.4 61.1 64.9 69.9 78.7

77.0 78.8 79.4 87.7 99.6

72.6 70.8 74.0 80.6 88.5

54.9 58.4 62.5 67.0 75.7

67.4 72.4 75.3 78.1 82.5

56.5 63.9 68.3 76.1 96.1

35.4 38.3 43.6 46.5 58.9

62.0 64.0 65.9 68.0 76.0

62.2 66.0 69.4 72.4 80.5

62.1 72.2 83.0 96.9 105.5

59.0 62.1 64.6 67.7 75.9

61.5 65.0 69.3 75.3 86.0

57.9 61.3 65.2 70.3 76.7

67.5 70.3 73.2 77.5 82.8

54.4 58.2 62.6 69.6 77.6

56.7 60.5 64.6 69.5 75.3

53.4 55.6 59.4 66.7 75.5

1980 1981 1982 1983 1984

.................... .................... .................... .................... ....................

89.8 98.0 100.0 101.3 103.7

102.9 105.2 100.0 102.4 105.5

95.9 98.9 100.0 101.8 105.4

88.0 97.4 100.0 101.1 103.3

89.7 97.6 100.0 100.3 102.7

94.7 99.3 100.0 103.2 109.0

82.8 100.2 100.0 95.9 94.8

89.0 98.4 100.0 100.3 102.9

90.1 96.4 100.0 100.8 102.3

101.5 102.8 100.0 107.9 108.0

86.3 94.8 100.0 103.3 110.3

95.0 99.6 100.0 101.8 104.8

86.0 94.4 100.0 102.7 105.1

90.7 95.9 100.0 103.4 105.7

88.4 96.7 100.0 101.6 105.4

82.9 94.3 100.0 102.8 105.2

93.6 96.1 100.0 104.8 107.0

1985 1986 1987 1988 1989

.................... .................... .................... .................... ....................

103.2 100.2 102.8 106.9 112.2

95.1 92.9 95.5 104.9 110.9

103.5 105.4 107.9 112.7 117.8

103.7 100.0 102.6 106.3 111.6

102.9 103.2 105.1 109.2 112.3

108.9 113.0 120.4 131.4 136.3

91.4 69.8 70.2 66.7 72.9

103.7 102.6 106.4 116.3 123.0

101.9 101.9 103.0 109.3 112.6

106.6 107.2 112.8 118.9 126.7

113.3 116.1 121.8 130.4 137.8

104.4 103.2 107.1 118.7 124.1

107.2 108.8 110.4 113.2 117.4

107.1 108.2 109.9 113.1 116.9

108.6 110.0 110.0 111.2 112.6

107.9 110.5 112.5 114.3 117.7

109.4 111.6 114.9 120.2 126.5

1990 1991 1992 1993 1994

.................... .................... .................... .................... ....................

116.3 116.5 117.2 118.9 120.4

112.2 105.7 103.6 107.1 106.3

121.9 121.9 122.1 124.0 125.5

115.8 116.5 117.4 119.0 120.7

115.0 116.3 117.8 118.0 118.3

141.7 138.9 140.4 143.7 148.5

82.3 81.2 80.4 80.0 77.8

123.6 125.6 125.9 128.2 132.1

113.6 115.1 115.1 116.0 117.6

129.7 132.1 146.6 174.0 180.0

141.2 142.9 145.2 147.3 152.5

122.9 120.2 119.2 119.2 124.8

120.7 123.0 123.4 124.0 125.1

119.2 121.2 122.2 123.7 126.1

114.7 117.2 117.3 120.0 124.2

121.5 126.4 130.4 133.7 137.2

134.2 140.8 145.3 145.4 141.9

1995 1996 1997 1998 1999

.................... .................... .................... .................... ....................

124.7 127.7 127.6 124.4 125.5

107.4 122.4 112.9 104.6 98.4

127.0 133.3 134.0 131.6 131.1

125.5 127.3 127.7 124.8 126.5

120.8 122.4 122.6 122.9 121.1

153.7 150.5 154.2 148.0 146.0

78.0 85.8 86.1 75.3 80.5

142.5 142.1 143.6 143.9 144.2

124.3 123.8 123.2 122.6 122.5

178.1 176.1 183.8 179.1 183.6

172.2 168.7 167.9 171.7 174.1

134.5 131.0 131.8 127.8 124.6

126.6 126.5 125.9 124.9 124.3

128.2 130.4 130.8 131.3 131.7

129.0 131.0 133.2 135.4 138.9

139.7 141.7 141.6 141.2 141.8

145.4 147.7 150.9 156.0 166.6

2000 2001 2002 2003 2004

.................... .................... .................... .................... ....................

132.7 134.2 131.1 138.1 146.7

99.5 103.8 99.0 111.5 123.3

133.1 137.3 136.2 143.4 151.2

134.8 135.7 132.4 139.1 147.6

121.4 121.3 119.9 119.8 121.0

151.5 158.4 157.6 162.3 164.5

103.5 105.3 93.2 112.9 126.9

151.0 151.8 151.9 161.8 174.4

125.5 127.2 126.8 130.1 133.8

178.2 174.4 173.3 177.4 195.6

183.7 184.8 185.9 190.0 195.7

128.1 125.4 125.9 129.2 149.6

124.0 123.7 122.9 121.9 122.1

132.6 133.2 133.5 133.9 135.1

142.5 144.3 146.2 148.2 153.2

143.8 145.2 144.6 145.7 148.6

170.8 181.3 182.4 179.6 183.2

2004 January ........... February ......... March .............. April ................. May ................. June ................

141.4 142.1 143.1 144.8 146.8 147.2

117.4 120.4 129.1 129.6 135.1 129.7

146.4 147.3 149.4 153.3 156.1 155.8

142.2 142.8 143.3 144.8 146.5 147.3

120.3 120.1 120.2 120.5 121.0 121.0

165.4 165.1 164.8 163.1 162.8 163.2

118.9 118.0 117.5 120.4 126.0 127.8

166.6 167.5 168.0 170.1 170.9 172.2

130.8 131.4 131.6 132.0 132.4 132.9

183.3 189.0 194.1 197.7 201.6 198.4

191.2 192.2 192.9 193.9 194.7 195.4

135.9 140.2 143.9 146.5 147.0 147.3

121.4 121.4 121.6 122.0 122.1 122.2

133.6 133.9 133.7 134.0 134.5 134.9

149.5 150.5 150.5 151.1 151.9 152.6

147.8 147.7 148.0 147.7 148.0 148.4

181.3 181.4 181.8 182.1 181.9 182.5

July ................. August ............. September ...... October ........... November ....... December .......

147.4 148.0 147.7 150.0 151.4 150.2

124.4 119.0 118.7 119.2 118.0 118.4

153.3 151.4 150.4 150.3 150.1 151.1

148.2 149.3 149.1 151.8 153.5 152.0

121.1 121.0 121.4 121.6 121.8 121.6

165.0 165.0 165.0 164.9 165.0 165.1

129.4 130.7 127.7 134.6 139.7 132.7

173.7 176.5 179.4 181.0 183.0 183.9

133.4 133.9 135.1 136.5 137.3 138.3

196.5 202.1 202.5 196.7 191.9 193.0

196.2 197.3 198.4 198.3 198.7 199.1

151.3 154.0 154.7 157.1 158.6 159.0

122.1 122.2 122.3 122.5 122.5 122.6

134.9 135.6 135.6 135.9 137.0 137.2

153.4 154.4 155.5 155.8 156.3 156.6

147.2 147.4 147.3 151.8 151.1 151.3

182.8 183.4 184.3 184.6 185.4 186.8

. . . = Not available.

202

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 8-6. Producer Price Indexes for the Net Output of Selected NAICS Industry Groups (Various index bases, not seasonally adjusted.) Mining

Year and month

Manufacturing (Dec. 1984 = 100)

Total (Dec. 1984 = 100)

Oil and gas extraction (Dec. 1985 = 100)

Total

Food manu- Leather and facturing products

Petroleum and coal products

Chemicals

Plastics and Nonmetallic rubber mineral products products

Primary metals

Fabricated metal products

Furniture and related products

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

... 77.0 75.0 70.6 76.4

... 76.9 74.3 68.5 75.7

... 98.4 100.9 104.4 109.6

99.0 100.3 102.6 107.1 112.2

101.3 103.0 106.6 113.4 118.0

... 66.6 70.5 67.7 75.7

100.7 100.5 103.6 113.0 119.6

100.0 100.3 100.9 106.7 110.2

102.1 103.8 104.5 105.8 107.9

99.4 97.0 101.0 113.0 118.8

100.6 101.0 102.1 107.4 112.6

101.9 103.9 106.4 111.4 115.6

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

81.8 78.4 76.9 76.4 73.3

82.7 77.9 76.5 76.2 71.1

114.5 115.9 117.4 119.1 120.7

116.2 116.5 116.9 118.7 120.1

122.6 124.8 127.0 129.0 130.6

91.4 83.1 80.3 77.6 74.8

121.0 124.4 125.8 127.2 130.0

111.3 113.7 114.2 115.4 117.1

110.0 112.3 112.8 115.4 119.6

116.5 113.1 111.7 111.4 117.0

115.1 116.6 117.2 118.2 120.3

119.1 121.6 122.9 125.4 129.7

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

71.0 84.4 86.1 70.8 78.0

66.6 84.8 87.5 68.3 78.5

124.2 127.1 127.5 126.2 128.3

121.7 127.1 127.9 126.3 126.3

134.1 134.7 137.1 137.1 136.5

77.2 87.4 85.6 66.3 76.8

143.4 145.8 147.1 148.7 149.7

123.3 123.1 122.8 122.1 122.2

124.3 125.8 127.4 129.3 132.6

128.2 123.7 124.7 120.9 115.8

124.8 126.2 127.6 128.7 129.1

133.3 136.2 138.2 139.7 141.3

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

113.5 114.3 96.6 131.3 153.4

126.8 127.5 107.0 160.1 192.7

133.5 134.6 133.7 137.1 142.9

128.5 132.8 132.0 137.4 144.3

137.9 141.3 141.1 142.8 143.6

112.8 105.3 98.8 122.0 149.9

156.7 158.4 157.3 164.6 172.8

124.6 125.9 125.5 128.4 131.7

134.7 136.0 137.1 138.0 142.7

119.8 116.1 116.2 118.4 142.8

130.3 131.0 131.7 132.9 141.3

143.3 145.1 146.3 147.4 151.5

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

144.6 140.3 136.6 140.9 149.5 155.5

181.1 172.5 165.4 171.7 188.1 198.0

138.9 139.3 140.3 141.8 143.3 142.9

139.3 140.4 142.4 146.1 149.1 148.6

143.3 143.6 143.8 143.5 143.4 143.5

131.5 130.7 134.3 141.9 152.0 144.1

167.0 167.9 168.8 169.7 170.3 171.6

128.9 129.4 129.6 130.0 130.4 130.8

139.2 140.3 140.2 140.9 141.6 142.2

124.0 128.5 132.3 138.4 142.2 142.3

134.6 135.7 137.5 139.4 140.8 141.9

147.4 148.7 149.0 149.7 151.4 151.7

July .............................. August .......................... September ................... October ........................ November .................... December ....................

155.6 159.3 149.6 160.6 179.1 169.2

196.6 202.7 184.0 203.0 234.8 214.7

143.2 143.7 144.2 146.5 146.1 145.0

146.5 144.6 143.8 143.5 143.3 144.2

143.7 143.6 143.6 143.5 143.8 143.9

152.3 155.6 158.9 176.7 170.4 150.3

172.2 173.8 175.5 177.2 179.3 180.5

131.2 131.7 133.1 134.3 135.3 136.1

143.0 144.0 144.9 145.3 145.5 145.8

144.7 148.3 150.8 152.9 154.2 155.5

142.5 143.4 144.2 144.9 145.4 145.7

152.0 152.7 152.8 153.4 154.6 155.1

Transportation and warehousing

Year and month

Rail Air transportransportation (Dec. tation (Dec. 1992 = 100) 1996 = 100)

Health care and social assistance

Pipeline transportation (June 1986 = 100) Crude oil

Refined petroleum products

Postal service (June 1989 = 100)

Offices of physicians (Dec. 1996 = 100)

Home health care (Dec. 1996 = 100)

Hospitals (Dec. 1992 = 100)

Other services industries (Dec. 1996 = 100)

Legal services

Architectural, Employment engineering, services and related services

Accommodation

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

... ... ... ... ...

... ... 94.3 86.5 85.9

... ... ... ... ...

85.3 86.5 86.5 96.6 100.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

... ... ... 105.6 108.5

... ... ... ... ...

88.7 88.2 88.2 88.2 99.4

... ... ... ... ...

100.0 117.9 119.8 119.8 119.8

... ... ... ... ...

... ... ... ... ...

... ... ... 102.5 106.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

113.7 121.1 125.3 124.5 130.8

... ... 100.5 101.7 101.3

109.8 100.4 91.0 91.8 90.4

106.2 105.9 106.9 106.4 106.3

132.2 132.3 132.3 132.3 135.3

... ... 101.0 103.2 105.5

... ... 103.3 106.2 107.1

110.0 112.6 113.6 114.4 116.4

... ... 102.5 106.1 108.7

... ... 102.2 105.1 108.5

... ... 101.0 103.2 105.2

... ... 104.2 108.1 112.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

147.7 157.2 157.8 162.1 162.3

102.6 104.5 106.6 108.8 113.4

96.0 106.6 107.6 106.0 110.2

106.8 110.2 112.8 114.5 117.8

135.2 143.4 150.2 155.0 155.0

107.3 110.4 110.3 112.1 114.3

111.1 114.0 116.6 117.0 119.8

119.4 123.0 127.5 134.9 141.5

112.5 117.9 121.7 125.6 131.8

111.8 115.9 121.1 124.3 126.8

107.3 108.2 108.9 111.4 113.9

116.2 121.3 121.3 122.0 125.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

163.3 163.6 162.0 162.3 162.2 162.8

110.5 110.7 111.5 111.8 112.3 112.6

109.9 109.9 107.7 108.0 108.0 109.7

116.6 116.6 116.6 116.1 116.3 116.3

155.0 155.0 155.0 155.0 155.0 155.0

114.1 114.3 114.3 114.4 114.4 114.3

119.5 119.6 119.6 119.7 119.7 119.7

139.5 140.1 140.3 140.7 140.8 140.9

131.4 131.7 131.7 131.8 131.8 131.8

125.7 125.9 126.5 126.6 126.5 126.6

112.1 112.5 113.2 113.1 113.8 114.0

122.2 123.6 124.9 124.8 124.4 125.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

163.9 163.4 159.8 160.9 162.2 161.4

113.3 113.5 114.7 115.6 116.4 117.6

111.5 111.5 111.5 111.5 111.5 111.4

119.0 119.2 119.3 119.4 119.4 119.5

155.0 155.0 155.0 155.0 155.0 155.0

114.3 114.3 114.4 114.4 114.4 114.5

119.7 119.7 119.8 120.1 120.2 120.3

141.6 141.6 141.7 143.3 143.5 143.8

131.6 131.5 131.8 132.0 132.0 132.0

127.0 127.0 127.3 127.3 127.3 127.7

114.6 114.6 114.2 115.2 115.2 114.4

126.6 127.0 127.2 127.0 125.1 123.8

. . . = Not available.

203

CHAPTER 8: PRICES Table 8-7. Prices Received and Paid by Farmers (1990–1992 = 100, not seasonally adjusted.) Prices received by farmers

Prices paid by farmers 1

Crops Year and month

All farm products

Total

Food grains

Livestock and products

Feed Oilgrains Cotton Tobacco bearing and hay crops

Fruit and nuts

ComPotamercial toes vege- and dry tables beans

Total

Meat animals

Dairy products

Poultry and eggs

Food commodities

All items

Ratio of prices received Proto prices duction paid items

1975 1976 1977 1978 1979

......................... ......................... ......................... ......................... .........................

73 75 73 83 94

88 87 83 89 98

128 105 83 102 121

112 105 87 88 100

68 99 100 91 96

56 63 66 72 75

93 97 119 110 121

46 45 54 72 77

66 67 70 74 79

78 75 71 73 65

62 64 64 78 90

56 57 56 75 90

67 74 74 81 92

83 83 81 87 90

69 71 71 83 95

47 50 53 58 66

55 59 61 67 76

158 150 138 144 144

1980 1981 1982 1983 1984

......................... ......................... ......................... ......................... .........................

98 100 94 98 101

107 111 98 108 111

136 138 119 120 117

115 122 103 125 127

114 111 92 104 108

80 94 99 96 98

118 122 103 118 125

73 76 78 71 85

80 99 92 96 97

93 126 88 89 111

89 89 90 88 91

84 82 86 81 83

100 105 104 104 103

91 94 89 95 109

96 97 93 95 98

75 82 86 86 89

85 92 94 92 94

131 121 109 113 114

1985 1986 1987 1988 1989

......................... ......................... ......................... ......................... .........................

91 87 89 99 104

98 87 86 104 109

108 89 83 113 127

105 84 72 102 109

93 91 98 95 98

92 82 83 86 96

96 89 90 126 118

84 83 93 96 99

95 92 105 104 103

87 81 89 88 131

86 88 91 93 100

78 80 90 91 94

97 96 96 93 104

97 105 87 98 111

89 87 91 99 104

86 85 87 91 96

91 86 87 90 95

106 103 102 108 108

1990 1991 1992 1993 1994

......................... ......................... ......................... ......................... .........................

104 100 98 101 100

103 101 101 102 105

100 94 113 105 119

105 101 98 99 106

107 108 88 89 109

97 102 101 101 102

105 99 100 108 110

97 112 99 93 90

102 100 111 117 109

133 99 88 107 110

105 99 97 100 95

105 101 96 100 90

105 94 100 98 99

105 99 97 105 106

104 99 99 102 98

99 100 101 104 106

99 100 101 104 106

105 99 97 97 94

1995 1996 1997 1998 1999

......................... ......................... ......................... ......................... .........................

102 112 107 102 96

112 127 115 107 97

134 157 128 103 91

112 146 117 100 86

127 122 112 107 85

103 105 104 104 102

104 128 131 107 83

97 118 110 112 115

121 111 118 123 110

107 114 90 99 100

92 99 98 97 95

85 87 92 79 83

98 114 102 119 110

107 120 113 117 110

99 108 105 101 96

109 115 118 115 115

108 115 119 113 111

93 98 90 89 83

2000 2001 2002 2003 2004

......................... ......................... ......................... ......................... .........................

96 102 98 107 119

96 99 105 111 117

85 91 104 108 120

86 91 100 104 109

82 64 56 85 91

107 107 108 107 94

85 80 88 107 134

98 109 105 106 120

121 133 137 138 137

93 98 129 104 102

97 106 90 103 122

94 97 87 103 116

94 115 93 96 123

106 115 94 111 132

97 104 97 107 122

120 123 124 128 134

116 120 119 124 132

80 83 79 84 89

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

95 98 105 94 96 97

94 102 118 100 104 104

89 85 85 84 86 95

90 91 91 92 95 97

45 46 47 45 44 56

116 113 98 ... ... ...

76 77 79 80 83 88

84 83 96 91 104 114

158 192 272 120 115 109

123 127 141 138 148 159

97 96 94 89 89 90

90 93 92 87 85 85

104 100 96 96 93 88

105 96 96 87 92 100

96 100 108 93 94 95

122 122 123 123 123 123

117 117 118 118 118 118

78 80 85 76 78 79

July ....................... August .................. September ........... October ................ November ............ December ............

99 100 98 95 97 98

109 113 109 101 103 103

105 115 129 129 124 125

102 110 111 105 104 106

58 57 59 65 71 73

106 103 104 106 115 115

96 98 88 90 97 98

119 122 124 123 110 92

115 121 119 105 110 104

175 129 103 92 104 108

88 87 85 87 89 91

87 84 81 84 86 88

85 87 89 93 91 91

94 93 92 86 96 96

97 97 95 93 95 95

123 124 124 125 125 125

119 120 121 121 120 121

80 81 79 76 78 78

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

99 99 99 101 105 108

103 103 106 110 116 118

117 106 102 99 102 102

105 106 106 107 109 110

75 77 80 75 76 75

120 119 104 70 ... ...

99 100 101 104 109 109

78 79 86 95 106 116

113 113 123 131 140 157

105 110 112 117 117 110

96 95 93 93 96 99

93 95 93 96 100 101

90 87 84 84 84 84

108 104 104 99 103 109

97 96 96 99 104 107

126 127 128 128 127 127

122 123 124 124 123 123

79 78 77 79 83 85

July ....................... August .................. September ........... October ................ November ............ December ............

105 109 111 113 116 114

109 114 112 111 115 115

98 110 111 113 119 121

102 102 101 96 99 103

76 76 92 112 104 104

103 104 108 109 114 115

104 101 97 111 121 127

121 125 126 126 117 94

121 140 146 144 158 170

113 96 90 87 95 98

101 105 110 116 117 112

101 104 108 115 116 110

93 102 111 115 110 106

109 112 115 118 124 121

105 110 113 116 120 116

127 127 128 129 129 129

123 123 125 126 126 126

83 86 87 88 90 88

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

112 116 121 125 129 128

113 121 121 123 124 122

124 124 127 129 128 121

105 113 118 124 127 122

103 102 102 100 99 99

120 125 121 38 ... ...

131 147 165 171 170 161

87 99 101 94 117 126

137 155 118 138 119 113

96 100 105 112 110 106

110 112 122 126 133 133

104 104 112 113 121 123

101 104 119 139 148 139

133 139 147 139 141 146

113 117 123 127 131 131

130 131 132 133 135 135

127 127 129 131 133 133

86 89 92 94 96 95

July ....................... August .................. September ........... October ................ November ............ December ............

124 120 115 114 116 111

120 118 113 111 113 104

115 112 114 114 114 113

113 108 100 96 92 93

89 89 81 82 73 67

... ... 109 110 114 115

151 121 95 97 97 100

127 132 144 160 146 108

125 138 136 165 178 126

109 100 95 89 97 100

128 122 118 118 119 120

121 121 119 118 118 118

123 114 119 119 124 126

144 130 117 114 118 118

127 123 118 118 123 116

135 135 135 136 135 134

133 133 133 134 133 132

92 89 85 84 86 83

1Includes

commodities, services, interest, taxes, and wage rates. . . . = Not available.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 8-1 THROUGH 8-3 AND 20-2 CONSUMER PRICE INDEXES SOURCES: U.S. DEPARTMENT OF LABOR, BUREAU OF LABOR STATISTICS (BLS) AND U.S. DEPARTMENT OF COMMERCE, BUREAU OF ECONOMIC ANALYSIS The Consumer Price Index (CPI), compiled by the Bureau of Labor Statistics (BLS), was originally conceived and compiled as a statistical measure of the average change in the cost to consumers of a market basket of goods and services purchased by urban consumers. The CPI has typically been called a “cost-of-living” index. In recent years, the concept has developed into something a little closer to the theoretical definition of a cost-of-living index—the cost of maintaining a constant standard of living or level of satisfaction rather than the cost of a fixed market basket. In addition, a new variation of the CPI— the Chained Consumer Price Index (C-CPI-U)—provides a still-closer approximation of a cost-of-living index. The reference base for the total BLS index and most of its components is currently 1982–1984 = 100; however, new products that have been introduced into the index since January 1982 are necessarily shown on later reference bases, as is the new C-CPI-U. Price indexes for personal consumption expenditures (PCE) are calculated and published by the Bureau of Economic Analysis (BEA) as a part of the national income and product accounts (NIPAs). (See notes and definitions to Chapters 1 and 4.) The reference base for these indexes is the average in the NIPA base year, 2000. These indexes differ in a number of other respects from the CPIs, and are often emphasized by the Federal Reserve in its analyses of the nation’s economy. These indexes are also available monthly and are shown in Tables 8-2 and 8-3 for convenient comparison with the CPIs. See the definitions below for those tables below for further explanation. The CPI-U and the CPI-W All of the BLS consumer price indexes in Table 8-1 are components of the CPI-U. The index uses the consumption patterns for all urban consumers, who comprised about 87 percent of the noninstitutional population in 1993–1995. Beginning with January 2002, the weights represent consumer expenditures in 1999–2000. Between January 1998 and December 2001, weights from 1993–1995 were used. Beginning with January 2004, the expenditure weights represent expenditures in 2001–2002. From the present forward, the weights will be updated at two-year intervals. Previously, new weights were introduced only at the time of a major revision, which translated into a lag of a decade or more.

A slightly different index that is widely used for adjusting wages and government benefits is the CPI-W, shown in Tables 8-2 and 8-3. It represents the buying habits of only urban wage earners and clerical workers—about 32 percent of the noninstitutional population in 1993–1995. The CPI was overhauled and updated in the latest major revision, effective January 1998. In addition, new products and improved methods are regularly introduced into the index (usually in January). The latest change in methods was the introduction of a geometric mean formula for calculating many of the basic components of the index. Beginning with the index for January 1999, this formula is used for categories comprising approximately 61 percent of total consumer spending. The new formula allows for the possibility that some consumers may react to changing relative prices within a category by substituting items whose relative prices have declined for products whose relative prices have risen, while maintaining their overall level of satisfaction. The geometric mean formula is not used for categories where substitution in the short term is not feasible. The CPI-U was introduced in 1978. Before that time, only CPI-W data were available. The movements of the CPI-U before 1978 are therefore based on the changes in the CPI-W. However, the index levels are different because the two indexes differed in the 1982–1984 base period. Because the official CPI-U and CPI-W are so widely used in “escalation”—the calculation of cost-of-living adjustments for wages and for government payments and tax parameters—these price indexes are not retrospectively revised to incorporate new information and methods. (An exception is occasionally made for outright error, as happened in September 2000 with respect to the data for January through August of that year.) Instead, the new information and methods of calculation are introduced in the current index and affect future index changes only. In Tables 8-2 and 8-3, special CPI and PCE indexes are presented that are subject to retrospective revision. These can be used to provide more consistent historical information. Notes on the CPI data The CPI is based on prices of food, clothing, shelter, fuel, utilities, transportation, medical care, and other goods and services that people buy for day-to-day living. The quantity and quality of these items are kept essentially constant between revisions to ensure that only price changes will be measured. All taxes directly associated with the purchase and use of items, such as sales and property taxes, are included in the index; the effects of income and payroll tax changes are not included.

CHAPTER 8: PRICES

Data collected from about 23,000 retail establishments and about 50,000 housing units in 87 urban areas across the country are used to develop the U.S. city average. Periodic major revisions of the indexes, in addition to revising the content and weights of the market basket of goods and services, update the statistical sample of urban areas, outlets, and unique items used in calculating the CPI and improve the statistical methods used. In addition, retail outlets and items are resampled on a rotating 5-year basis. Adjustments for changing quality are made at times of major product changes, such as the annual auto model changeover. Other methodological changes are introduced from time to time. CPI weights for 1964–1977 were derived from reported expenditures of a sample of wage-earner and clericalworker families and individuals in 1960–1961 and adjusted for price changes between the survey dates and 1963. Weights for 1978–1986 were derived from a consumer expenditure survey (CES) undertaken during the 1972–1974 period and adjusted for price change between the survey dates and December 1977. For 1987–1997, the spending patterns reflected in the CPI were derived from a CES undertaken during the 1982–1984 period. The reported expenditures were adjusted for price change between the survey dates and December 1986. The CES is composed of two separate surveys: an interview survey and a diary survey, both of which are conducted by the Bureau of the Census for BLS. Each expenditure reported in the two surveys is coded to detailed categories, which are then combined into expenditure classes and ultimately into major expenditure groups. CPI data as of 1998 are grouped into eight such groups: (1) food and beverages, (2) housing, (3) apparel, (4) transportation, (5) medical care, (6) recreation, (7) education and communication, and (8) other goods and services. Education and communication and recreation were new groups introduced in the 1998 revision, which also rearranged several subcategories. Seasonally adjusted national CPI indexes are published for selected series for which there is a significant seasonal pattern of price change. The factors currently in use were derived by the X-12 ARIMA seasonal adjustment method. Some series with extreme or sharp movements are seasonally adjusted using the X-12 ARIMA Intervention Analysis Seasonal Adjustment. Seasonally adjusted indexes and seasonal factors for the preceding five years are updated annually based on data through the previous December. Due to these revisions, BLS advises against the use of seasonally adjusted data for escalation. Detailed descriptions of seasonal adjustment procedures are available upon request from BLS.

205

cations were carried back to 1993. The definitions below are these current definitions for the CPI components. The food and beverage index includes both food at home and food away from home (restaurant meals and other food bought and eaten away from home). The housing index measures changes in rental costs and in expenses connected with the acquisition and operation of a home. The CPI-U, beginning with data for January 1983, and the CPI-W, beginning with data for January 1985, reflect a change in the methodology used to compute the homeownership component. A rental equivalence measure replaced an asset-price approach. The central purpose of the change was to separate shelter costs from the investment component of homeownership, so that the index would only reflect the cost of shelter services provided by owner-occupied homes. In addition to these measures of the cost of shelter, the housing category includes insurance, fuel, utilities, and household furnishings and operations. The apparel index includes the purchase of apparel and footwear. The private transportation index includes prices paid by urban consumers on such items as new and used automobiles and other vehicles, gasoline, motor oil, tires, repairs and maintenance, insurance, registration fees, driver’s licenses, parking fees, etc. Auto finance charges, like mortgage interest payments, are considered to be a cost of asset acquisition, not of current consumption. Therefore, they are no longer included in the CPI. City bus, streetcar, subway, taxicab, intercity bus, airplane, and railroad coach fares are some of the components of the public transportation index. The medical care index includes prices for professional medical services, hospital and related services, prescription and nonprescription drugs, and other medical care commodities. The portion of health insurance premiums used to cover the costs of these medical goods and services is distributed among the items; the portion of health insurance costs attributable to administrative expenses and profits of insurance providers constitutes a separate health insurance item. Effective with the January 1997 data, the method of calculating the hospital cost component was changed from the pricing of individual commodities and services to a more comprehensive cost-oftreatment approach. Recreation includes components formerly listed in housing, apparel, entertainment, and “other.”

CPI Definitions

Education and communication is a new group including components formerly categorized in housing and “other,” such as telephone services and computers.

Definitions of the major CPI groupings were modified beginning with the data for January 1998. These modifi-

Other goods and services now includes tobacco, personal care, and miscellaneous.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Alternative price measures in Tables 8-2 and 8-3 Table 8-2 shows the all-items CPI-U and CPI-W, along with a number of other indexes that various analysts of price trends have preferred as measures of the price level. Table 8-3 shows the inflation rates (percent changes in price levels) implied by each of the indexes in Table 8-2. As food and energy prices are volatile and frequently determined by forces separate from monetary aggregate demand pressures, many analysts prefer an index of prices excluding those components. Indexes excluding food and energy are known as core indexes, and inflation rates calculated from them are known as core inflation rates. The CPI-U-X1 is a special version of the CPI that many researchers have used to provide a more historically consistent series. As explained above, the official CPI-U treated homeownership on an asset price basis until January 1983. It then changed to a rental equivalence method. The CPI-U-X1 also incorporates a rental equivalence approach to homeowners’ costs for the years 1967–1982. It is rebased to the December 1982 value of the CPI-U (1982–1984 = 100); thus, it is identical to the CPI-U in December 1982 and all subsequent periods. For this reason, it is not updated or published in the CPI news release. The CPI-U-RS is a “research series” CPI that retroactively incorporates estimates of the effects of most of the methodological changes that have been implemented since 1978, including the rental equivalence method, new or improved quality adjustments, and improvement of formulas to eliminate bias and allow for some consumer substitution within categories. This index is calculated from 1977 forward. Its reference base is December 1977 = 100. Thus, although it generally shows less increase than the official index, its current levels are considerably higher because the earlier reference base period had lower prices. Unlike the official CPIs and the CPI-U-X1, its historical values will be revised each time a significant change is made in the calculation of the current index. This index is not seasonally adjusted, and is not included in the CPI news release. It is available on the BLS Web site, along with an explanation and background material. The CPI-U-RS is used by BLS in the calculation of historical trends in real compensation per hour in its Productivity and Costs system; see Table 9-4 and its notes and definitions. It is also now used by the Census Bureau to convert household incomes into constant dollars, as in Chapter 3. The C-CPI-U (Chained Consumer Price Index for All Urban Consumers) is a new, supplemental index that has been published in the monthly CPI news release since August 2002. It is available only from December 1999 to date and is calculated with the base December 1999 = 100; it is not seasonally adjusted. It is designed to be a still-closer approximation to a true cost-of-living index than the CPI-U and the CPI-W, assuming that consumers substitute between and within categories in response to changes in

relative prices in order to maintain a fixed basket of “consumer satisfaction.” The C-CPI-U is a “superlative” index, using a method known as the “Tornqvist formula” to incorporate the composition of consumer spending in the current period as well as in the earlier base period. As it requires consumer expenditure data for the current as well as the earlier period, its final version can only be calculated after the expenditure data become available—about two years after the current period—and is approximated in more recent periods by making more extensive use of the geometric mean formula (see above). With the release of January 2005 data, the indexes for 2003 were revised to their final form, and the initial indexes for 2004 were revised. These 2004 indexes have the status of revised interim indexes. PCE chain-type price indexes are calculated by the Bureau of Economic Analysis in the framework of the national income and product accounts (NIPAs). The scope of NIPA personal consumption expenditures (PCE) is broader than that of the CPI. PCE includes the rural as well as the urban population and the consumption spending of nonprofit entities. The CPI includes only consumer out-of-pocket cash spending and rental eqivalence, whereas PCE includes some imputed services and includes expenditures financed by government and private insurance, particularly in the medical care area. For this reason, there is a large difference between the relatively small weight of medical care spending in the CPI and the markedly greater percentage of PCE accounted for by total medical care spending. PCE chain-type indexes use the expenditure weights of both the earlier and the later period to determine the aggregate price change between the two periods. (See the notes and definitions to Chapter 1.) Thus, they are subject to revision as improved data on the composition of consumption spending become available. For a large share of PCE, the price trends are determined by CPI components. The differences between the rates of change in the CPI and PCE indexes are in large part the result of the different weights, but also reflect the differences in scope and some alternative methodologies. Market-based PCE indexes are based on household expenditures for which there are observable price measures. They exclude most implicit prices (for example, the services furnished without payment by financial intermediaries) and they exclude items not deflated by a detailed component of either the Consumer Price Index (CPI) or the Producer Price Index (PPI). This means that the price observations that make up these new aggregate measures are all based on observed market transactions. The new price measures are therefore known as “market-based price indexes.” Excluded are services furnished without payment by financial intermediaries, most insurance purchases, expenses of NPISHs (nonprofit institutions serv-

CHAPTER 8: PRICES

ing households), gambling, margins on used light motor vehicles, and expenditures by U.S. residents working and traveling abroad. The imputed rent for owner-occupied housing is included in the market-based index, since it is based on observed rentals of comparable homes. Household insurance premiums are also included in the market-based index, since they are deflated by the CPI for tenants’ and household insurance. Also excluded are medical, hospitalization, and income loss insurance, expense of handling life insurance, motor vehicle insurance, and workers’ compensation. Inflation rates shown in Table 8-3 are percent changes in the price indexes shown in Table 8-2. For annual indexes, the rate is the percent change from the previous year. For monthly indexes, the rate is the percent change from the same month a year earlier. Data availability The CPI indexes are initially issued in a press release about 2 weeks following the month to which the data pertain. The CPI Detailed Report is issued about a month after the press release. Seasonally adjusted values for the preceding 5 years are revised with each year’s release of the January index. Selected CPI data are published monthly in the Monthly Labor Review, which also contains periodic articles analyzing price developments. Complete historical data are available on the BLS Web site at . The monthly PCE indexes are included in the monthly Personal Income report issued by BEA near the end of the following month. They are revised frequently, reflecting new information, and annually to reflect the annual and quinquennial benchmarking of the national income and product accounts. References Extensive descriptions of CPI methods and issues can be found on the BLS Web site. Two special issues of the Monthly Labor Review cover the CPI in detail. The December 1996 issue describes the subsequently-implemented 1997 and 1998 revisions in a series of articles, and the December 1993 issue on “The Anatomy of Price Change” includes: “The Consumer Price Index: Underlying Concepts and Caveats”; “Basic Components of the CPI: Estimation of Price Changes”; “The Commodity Substitution Effect in CPI Data, 1982–1991”; and “Quality Adjustment of Price Indexes.” The new formula for calculating basic components is described in “Incorporating a Geometric Mean Formula into the CPI,” Monthly Labor Review, October 1998. The CPI-U-RS is described in “Consumer Price Index Research Series Using Current Methods, 1978–1998,” Monthly Labor Review, June 1999. The C-CPI-U is discussed in the news release on the July 2002 CPI, available on the BLS Web site at .

207

For a detailed discussion of the treatment of homeownership, see “Changing the Homeownership Component of the Consumer Price Index to Rental Equivalence,” CPI Detailed Report (January 1983). “Consumer Price Indexes,” Chapter 17 in the BLS Handbook of Methods Bulletin 2490 (April 1997), describes the methodology used in computing the CPI. For a comprehensive, up-to-date professional review of CPI concepts and methodology, see Charles Schultze and Christopher Mackie, ed., At What Price? Conceptualizing and Measuring Cost-of-Living and Price Indexes, Washington, DC: National Academy Press, 2001. Earlier discussions include: “Using Survey Data to Assess Bias in the Consumer Price Index,” Monthly Labor Review (April 1998); Joel Popkin, “Improving the CPI: The Record and Suggested Next Steps,” Business Economics, Vol. XXXII, No. 3 (July 1997), pages 42–47; Measurement Issues in the Consumer Price Index, Bureau of Labor Statistics, U.S. Department of Labor, June 1997; Toward a More Accurate Measure of the Cost of Living, Final Report to the Senate Finance Committee from the Advisory Commission to Study the Consumer Price Index, December 4, 1996 (the “Boskin Commission” report); and Government Price Statistics, U.S. Congress Joint Economic Committee, 87th Congress, 1st Session, January 24, 1961 (the “Stigler Committee” report). TABLES 8-4 THROUGH 8-6 AND 20-2 PRODUCER PRICE INDEXES SOURCE: U.S. DEPARTMENT STATISTICS

OF

LABOR, BUREAU

OF

LABOR

Producer Price Indexes (PPI) measure average changes in prices received by domestic producers. They are organized in three systems: by stage of processing, by commodity group, and by industry. Most of the indexes currently are published on a base of 1982 = 100. However, there are a number of exceptions for products and industries introduced into the index system since 1982, identified in this book in the column headings for the individual series. Table 8-4 presents price indexes for commodities by stage of processing. Table 8-5 presents data by major commodity groups; this is the grouping that has the longest continuous history. In recent years, the major commodity groups—particularly the totals for all commodities and industrial commodities—have been de-emphasized, as they aggregate successive stages of processing and thus often exaggerate price trends. This effect was particularly acute in the energy price crisis of the early 1970s. To avoid this problem, the stage-of-processing groups were introduced in 1978. However, the individual commodity groups (for example, textile products and apparel) provide a much longer perspective on individual industrial sectors than is available in industry groupings. They are presented here for that reason.

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Table 8-6 presents PPIs for the net output of selected industry groups. As the coverage of the PPI is expanded, indexes for additional industries are frequently introduced, and new industries may only go back to the most recent December. This volume includes only those industry groupings with at least seven years of historical data. Definitions The stage-of-processing PPI indexes organize commodities by class of buyer and degree of fabrication. These have been the featured measures since 1978. The three major indexes are (1) finished goods, or commodities that will not undergo further processing and are ready for sale to the ultimate user (such as automobiles, meats, apparel, and machine tools); (2) intermediate materials, supplies, and components, or commodities that have been processed but require further processing before they become finished goods (such as steel mill products, cotton yarns, lumber, and flour), as well as physically complete goods that are purchased by business firms as inputs for their operations (such as diesel fuel and paper boxes); and (3) crude materials for further processing, or products entering the market for the first time that have not been manufactured or fabricated but will be processed before becoming finished goods (such as ores, scrap metals, crude petroleum, raw cotton, and livestock). PPIs for the net output of industries and their products are grouped according to the North American Industry Classification System (NAICS). For each industry, they include both measures of price change for the products “primary” to that industry (products made primarily but not necessarily exclusively by that industry), and measures of changes in prices received by establishments classified in the industry for products or services chiefly made in some other industry. Thus, they are designed to be compatible with other economic time series organized by industry, such as data on shipments, employment, wages, and productivity. Notes on the data The probability sample used for calculating the PPI provides more than 100,000 price quotations per month, selected to represent the movement of prices of all commodities produced in the manufacturing; agriculture, forestry, and fishing; mining; and gas and electricity and public utility sectors. In addition, new PPIs are gradually being introduced for the products of industries in the transportation, trade, finance, and services sectors. To the extent possible, prices used in calculating the PPI represent prices received by domestic producers in the first important commercial transaction for each commodity. These indexes attempt to measure only price changes (changes in receipts per unit of measurement not influenced by changes in quality, quantity sold, terms of sale, or level of distribution). Most quotations are the selling prices of selected manufacturers or other producers,

although a few prices are those quoted on organized exchanges or markets. Transaction prices are sought instead of list or book prices. Price data are generally collected monthly, primarily by mail questionnaire. Most prices are obtained directly from producing companies on a voluntary and confidential basis. Prices generally are reported for the Tuesday of the week containing the 13th day of the month. The name “Producer Price Index” became effective with the release of March 1978 data, replacing the term “Wholesale Price Index.” The change was made to more accurately reflect the coverage of the data. At the same time, there was a shift in analytical emphasis from the All Commodities Index and other traditional commodity grouping indexes to the Finished Goods Index and other stage-of-processing indexes. The BLS revises the Producer Price Index weighting structure when data from economic censuses become available. Beginning with data for January 2002, the weights used to construct the PPI reflect 1997 shipments values as measured by the 1997 Economic Censuses and other sources. Data for 1996–2001 reflect 1992 shipments values; 1992–1995 reflect 1987 shipment values; 1987–1991 reflect 1982 values; 1976–1986 reflect 1972 values; and 1967–1975 reflect 1963 values. BLS has been working for a number of years on a comprehensive overhaul of the theory, methodology, and procedures used to construct the PPI. One aspect of this overhaul was the already mentioned shift in emphasis to the stage-of-processing measures, which began in 1978. Other changes phased in since 1978 include the replacement of judgment sampling with probability sampling techniques; expansion to systematic coverage of the net output of virtually all industries in the mining and manufacturing sectors; introduction of measures for selected services industries, including retail trade; a shift from a commodity to an industry orientation; and the exclusion of imports from, and the inclusion of exports in, the survey universe. Seasonal factors for the PPI are revised annually to take into account the most recent 12 months of data. Seasonally adjusted data for the previous 5 years are subject to these annual revisions. Data availability The indexes are initially issued in a press release about two weeks following the end of the month to which the data pertain. They are subsequently published in greater detail in the monthly BLS publication, PPI Detailed Report. Each month, data for the fourth previous month are revised to reflect late reports and corrections. Selected PPI data are also published monthly in the Monthly Labor Review, which also contains periodic articles analyzing price developments. Historical data tables

CHAPTER 8: PRICES

providing annual and monthly data for all available periods for all published series are available on request from BLS. Complete historical data are available on the BLS Web site at . References The following Monthly Labor Review articles and technical notes contain background information: “Comparing PPI Energy Indexes to Alternative Data Sources” (December 1998); “Are Producer Prices Good Proxies for Export Prices?” (October 1997); “Effect of 1992 Weights on Producer Price Indexes” (July 1996); “Hospital Price Inflation: What Does the PPI Tell Us?” (July 1996); “Seasonal Adjustment of Producer Price Index for Passenger Cars” (June 1996); “Effect of Updated Weights on Producer Price Indexes” (March 1993); “Milestones in the Producer Price Index Methodology and Presentation” (August 1989); “New Stage of Process Price System Developed for the Producer Price Index” (April 1988); “Improving the Measurement of Producer Price Changes” (April 1977). BLS Handbook of Methods Bulletin 2490 (April 1997), Chapter 14, “Producer Prices,” describes the methodology used in computing the PPI. TABLE 8-4 PURCHASING POWER OF THE DOLLAR SOURCE: U.S. DEPARTMENT OF LABOR, BUREAU STATISTICS; CALCULATIONS BY EDITOR

OF

LABOR

The purchasing power of the dollar measures changes in the quantity of goods and services a dollar will buy at a particular date compared with a selected base date. It must be defined in terms of: (1) the specific commodities and services that are to be purchased with the dollar; (2) the market level (producer, retail, etc.) at which they are purchased; and (3) the dates for which the comparison is to be made. Thus, the purchasing power of the dollar for a selected period, compared with another period, may be measured in terms of a single commodity or a large group of commodities, such as all goods and services purchased by consumers at retail or all finished commodities sold in primary markets. Broad price indexes calculated by BLS that have been used to measure the purchasing power of the dollar in the United States include: (1) the Producer Price Index (PPI) for Finished Goods, which relates to prices received by the producers of finished commodities at the primary market level, and (2) two versions of the Consumer Price Index (the CPI-U and CPI-W), which measure average changes in retail prices of goods and services. These indexes are described above in the sections of the notes and definitions pertaining to the Producer Price Index and the Consumer Price Index, respectively.

209

The purchasing power of the dollar is computed by dividing the price index number for the base period by the price index number for the comparison date and expressing the result in dollars and cents. The base period is the period in which the price index equals 100; the purchasing power is therefore $1.00. In this book, 1982–1984 is used as the base period for the two indexes shown to enable ready comparisons. Purchasing power estimates in terms of both the CPI-U and the CPI-W are calculated by BLS and published in the CPI press release. The CPI-U version is used here. The comparable purchasing power in terms of the PPI is calculated by the editor of Business Statistics after rebasing the index from its published 1982 base to 1982–1984 = 100. In all cases, the purchasing power measure is based on indexes not adjusted for seasonal variation. TABLE 8-7 PRICES RECEIVED AND PAID BY FARMERS SOURCE: U.S. DEPARTMENT OF AGRICULTURE, NATIONAL AGRICULTURAL STATISTICS SERVICE (NASS) The data on prices received and paid by farmers represent prices farmers received for commodities sold and prices paid for production input goods and services. Prices are weighted and aggregated into price indexes. These indexes provide measures of relative price changes for agricultural outputs and inputs. These price measures are based on voluntary reports from agribusiness firms, merchants, dealers, and farmers. Data are collected at regular intervals using mailed inquiries, telephone, and personal enumeration. In January 1995, these data were converted to a reference base of 1990–1992 = 100. Pricespaid indexes were only available quarterly for several years, but have been published monthly beginning with January 1996 with monthly indexes for 1995 constructed for historical comparison. Definitions Prices received by farmers represents sales from producers to first buyers. Data include all grades and qualities. The average commodity price from the survey multiplied by the total quantity marketed should theoretically give the total cash receipts for the commodity. Prices paid by farmers represents the average costs of inputs purchased by farmers and ranchers to produce agricultural commodities. Conceptually, the average price when multiplied by quantity purchased should equal total producer expenditures for the item. Ratio of prices received to prices paid is the ratio of the index of prices received for all farm products to the index of prices paid for all commodities and services. For some years, prices paid are available only for the first month of each quarter. Each month’s ratio of prices received to prices paid is based on the latest data available.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Notes on the data In 1995, NASS reweighted and reconstructed the prices paid and received indexes. The indexes are now based on 5-year moving average weights compared with fixed weights previously. The changes in the construction of the indexes simplified updating component items and reference periods while maintaining appropriate weights. The overall changes to the weighting and construction of the indexes did not have a significant effect on the index levels. Therefore, it had little effect on the level of parity prices. Indexes are now published on a 1990–1992 = 100 base. As required by law, the parity ratio (ratio of prices received to prices paid) also continues to be published on a base of 1910–1914 = 100. Prices paid. Since 1995, the Prices Paid Survey of items purchased by farm establishments has been conducted annually in April. Surveys are conducted for feed, seed, fertilizer, agricultural chemicals, fuel, and farm machinery. About 135 selected items are priced to represent groups of similar items purchased in order to make up the major production expenditure categories. The number of input items consumed on farms is so extensive that it is not feasible to collect price data for all of the inputs. Items on the questionnaire are described in the simplest way consistent with definite identification. Firms are requested to report prices for the most commonly sold item that meets the general specification on the questionnaire. Reported data are summarized to regional estimates and then weighted to U.S. prices. Weights are based on available consumption or expenditure information. Average prices, including state and local taxes, are used in computing the indexes and are published in Agricultural Prices for the same month as the survey. Regional prices are published for feed, fuel, and fertilizer. U.S. prices are published for the remaining items surveyed. Bureau of Labor Statistics (BLS) indexes are used to measure price change for the months when no survey data are collected. The BLS indexes measure price changes for farm supplies and repairs, autos and trucks, building materials, and marketing containers. Before 1995, quarterly prices-paid surveys were conducted by NASS. Quarterly feeder livestock surveys are still conducted. Revisions: prices paid. Any revisions are published in the monthly and annual issues of Agricultural Prices. The basis for revision must be supported by additional data

that directly affect the level of the estimate. More revisions are likely in April, when separate prices paid surveys are conducted. Survey procedures: prices received. Primary sales data used to determine grain prices are obtained from probability samples of mills and elevators. These procedures ensure that virtually all grain moving into commercial channels has a chance of being included in the survey. Livestock prices are obtained from packers, stockyards, auctions, dealers, and market check data. Interfarm sales of grain and livestock are not included, as they represent very small percentages of total marketings. Grain marketed for seed is also excluded. Fruit and vegetable prices are obtained from sample surveys and market check data. Summary and estimation procedures: prices received. Survey quantities sold are expanded by strata to state levels and used to weight average strata prices to a state average. State prices are then weighted to a U.S. price. Revisions: prices received. For most items, the current month’s price represents a 3–5 day period around the mid-month. Previous month’s prices represent actual dollars received for quantities sold during the entire month. Revisions are published in monthly issues of Agricultural Prices and in the annual summary published in July. A schedule of monthly revisions is published in the December issue of Agricultural Prices and in the July annual summary. Reliability: prices received. U.S. price estimates generally have a sampling error of less than one-half percent for major commodities such as corn, wheat, soybeans, cotton, and rice. Data availability Prices paid and received by farmers are available each month in a press release issued close to the end of the month. Data are subsequently published monthly in Agricultural Prices. Data also are available on the NASS Web site at . Reference The indexes are discussed in “Revised Prices Received and Paid Indexes, United States, 1975–1993 for Base Periods 1910–1914 = 100 and 1990–1992 = 100,” Statistical Bulletin number 917 (National Agricultural Statistics Service, February 1995).

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS Section 9a: Employment Cost Indexes

Figure 9-1. Changes in Wages and Salaries and in Benefit Costs, Private Industry, 1980–2004 (December values, not seasonally adjusted, percent change from year earlier)

Percent change

14 12

Wages and salaries

10

Benefit costs

8 6 4 2 0 1980

1982

1984

1986

1988

1990

1992

1994

1996

1998

2000

2002

2004

Year

• Between 2000 and 2004, average hourly wages and salaries for all private industry workers rose at a 3.0 percent annual rate, as measured in the Employment Cost Index (measured in current dollars and holding the mix of industries and occupations constant). (Table 9-2) The cost of employer-paid benefits rose at a rate of 5.8 percent, having been driven up by rising costs of medical benefits. (Table 9-3) As a result, the total compensation cost of an average hour of work rose at a 3.8 percent annual rate. (Table 9-1) • During the same 4-year recession/recovery period, the Consumer Price Index rose at an average annual rate of 2.3 percent (Table 8-1), implying an increase in real compensation and a smaller increase in real wages and salaries. Both of those real rates of increase fell short of the 3.4 percent rate of increase in nonfarm worker productivity, even allowing for the difference between the productivity deflator and the CPI. (Table 9-4)

211

212

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 9-1. Employment Cost Indexes—Total Compensation (June 1989 [not seasonally adjusted] = 100; annual values are for December, not seasonally adjusted; quarterly values, seasonally adjusted, except as noted.) Private industry workers By occupational group Year and quarter

1979 ....................

All civilian workers 1

Private State industry and local All workers governprivate excludment industry ing sales workers workers occupations 2

By industry division Goods-producing industries

Production and nonsupervisory occupations 2

Whitecollar occupations

Bluecollar occupations

Service occupations

Total

ConManustruction facturing

Service-producing industries

Total

Transportation and utilities

Wholesale trade

Retail trade

Finance, insurance, Services and real estate 2

...

...

59.1

58.7

...

57.4

61.3

58.8

60.7

...

60.1

57.7

...

...

...

...

...

1980 1981 1982 1983 1984

.................... .................... .................... .................... ....................

... 70.2 74.8 79.1 83.2

... 66.1 70.8 75.1 80.1

64.8 71.2 75.8 80.1 84.0

64.8 71.2 75.9 80.2 84.3

... 71.4 76.1 80.4 84.2

62.9 69.2 73.7 78.4 82.4

67.5 74.0 78.4 82.3 85.8

64.4 70.4 76.3 80.5 85.8

66.7 73.3 77.8 81.6 85.4

... ... ... ... ...

66.0 72.5 76.9 80.8 85.0

63.3 69.5 74.1 78.9 82.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

.................... .................... .................... .................... ....................

86.8 89.9 93.1 97.7 102.6

84.6 89.0 93.0 98.2 104.3

87.3 90.1 93.1 97.6 102.3

87.3 90.2 93.4 97.7 102.1

87.3 89.8 92.8 97.5 102.4

86.4 89.4 92.7 97.3 102.4

88.5 90.9 93.7 97.9 101.9

88.4 91.1 93.3 98.2 102.5

88.2 91.0 93.8 97.9 102.1

88.2 90.7 94.0 98.0 102.4

87.8 90.7 93.4 97.6 102.0

86.6 89.3 92.6 97.3 102.3

90.0 92.0 94.8 97.5 101.2

... 88.7 92.2 96.1 104.5

88.8 90.8 93.0 98.4 101.6

85.9 88.6 90.4 96.2 101.4

84.1 87.7 92.2 97.5 102.9

1990 1991 1992 1993 1994

.................... .................... .................... .................... ....................

107.6 112.2 116.1 120.2 123.8

110.4 114.4 118.6 121.9 125.6

107.0 111.7 115.6 119.8 123.5

107.1 112.0 115.9 120.2 123.9

106.9 111.5 115.5 119.7 123.1

107.4 112.2 115.9 120.2 124.1

106.4 111.0 115.0 119.3 122.6

107.3 112.4 115.9 119.5 122.9

107.0 111.9 116.1 120.6 124.3

105.6 109.9 113.8 116.5 120.8

107.2 112.2 116.5 121.3 125.1

107.0 111.6 115.2 119.3 122.8

105.1 109.7 113.5 117.5 122.1

106.5 111.1 114.4 117.8 121.5

106.0 110.5 113.4 116.8 120.1

105.5 110.0 111.3 116.4 118.9

109.3 114.0 118.9 123.1 126.6

1995 1996 1997 1998 1999

.................... .................... .................... .................... ....................

127.2 130.9 135.2 139.8 144.6

129.3 132.7 135.7 139.8 144.6

126.7 130.6 135.1 139.8 144.6

127.1 130.8 135.2 139.4 144.5

126.3 130.0 134.2 139.0 143.1

127.6 131.7 136.7 142.0 146.9

125.6 129.0 132.3 135.9 140.5

125.2 128.9 134.1 138.0 142.6

127.3 130.9 134.1 137.8 142.5

123.4 126.4 129.7 134.3 138.7

128.3 132.1 135.3 138.9 143.6

126.2 130.2 135.3 140.5 145.3

126.6 130.4 134.2 139.3 142.3

127.0 130.9 135.1 142.8 148.5

122.7 127.4 131.7 135.6 140.7

123.1 126.0 134.5 142.5 148.3

129.4 133.4 138.5 142.7 147.6

2000 2001 2002 2003 2004

.................... .................... .................... .................... ....................

150.6 156.8 162.2 168.4 174.7

148.9 155.2 161.5 166.8 172.6

150.9 157.2 162.3 168.8 175.2

150.9 157.2 162.4 169.0 175.6

149.5 155.5 160.5 166.6 173.0

153.6 160.1 165.2 172.0 178.1

146.4 151.9 157.3 163.6 170.8

148.1 154.8 159.8 164.9 169.7

148.8 154.4 160.1 166.5 174.3

146.7 153.0 157.9 163.3 167.3

149.3 154.6 160.5 167.1 175.4

151.7 158.2 163.1 169.7 175.3

148.3 155.5 161.7 167.0 173.5

154.4 159.5 166.7 172.0 176.6

146.6 153.2 155.8 161.0 164.7

155.7 161.3 168.5 180.9 186.0

154.1 161.0 165.4 171.4 177.9

1996 March .............. June ................ September ...... December .......

128.3 129.2 130.1 131.0

129.9 130.8 131.5 132.5

127.9 128.9 129.8 130.7

128.3 129.2 130.2 130.8

127.5 128.6 129.2 130.0

128.9 129.9 131.0 132.0

126.6 127.5 128.0 129.2

125.6 126.3 127.1 128.6

128.5 129.6 130.4 131.3

124.5 125.1 125.6 126.7

129.1 130.3 131.2 132.1

127.6 128.6 129.5 130.4

127.7 128.5 129.2 130.6

127.6 129.1 129.9 131.1

124.6 124.7 125.9 127.8

124.5 126.3 126.7 126.0

130.7 131.8 132.6 133.5

1997 March .............. June ................ September ...... December .......

131.9 132.9 133.9 135.2

133.2 133.9 134.6 135.4

131.6 132.6 133.7 135.2

131.9 133.0 134.1 135.2

131.1 132.1 133.2 134.2

133.0 134.0 135.1 137.0

129.7 130.7 131.6 132.5

129.5 130.6 132.7 133.8

131.6 132.9 133.8 134.4

127.4 128.4 129.4 130.0

132.5 133.6 134.5 135.4

131.5 132.5 133.6 135.6

131.1 131.8 132.8 134.3

133.0 133.6 134.6 135.2

128.6 129.6 130.8 132.1

128.6 129.4 130.5 134.5

134.6 135.7 136.9 138.6

1998 March .............. June ................ September ...... December .......

136.2 137.3 138.7 139.7

136.5 137.5 138.6 139.5

136.1 137.3 138.7 139.8

136.4 137.5 138.8 139.4

135.3 136.6 138.0 139.0

138.0 139.3 141.0 142.3

133.2 134.1 135.1 136.1

134.9 135.7 137.0 137.7

135.2 136.3 137.2 138.0

130.8 132.4 133.2 134.6

136.2 137.0 138.2 139.0

136.6 137.7 139.5 140.7

135.7 137.1 138.4 139.4

137.9 138.3 140.8 143.0

133.1 134.3 135.6 136.1

136.7 138.4 141.0 142.5

139.3 140.3 141.7 142.8

1999 March .............. June ................ September ...... December .......

140.2 141.7 143.0 144.6

140.4 141.6 142.6 144.2

140.2 141.7 143.1 144.7

140.5 141.9 143.2 144.5

139.3 140.8 141.9 143.1

142.3 144.0 145.5 147.2

137.0 138.0 139.3 140.7

139.1 140.2 140.6 142.2

138.9 139.9 141.1 142.7

135.8 136.7 137.7 138.9

139.7 140.6 142.0 143.8

140.8 142.6 144.0 145.6

139.7 140.9 141.7 142.5

142.9 144.3 146.3 148.7

136.7 139.0 139.7 141.2

141.5 145.8 147.6 148.3

143.5 144.6 145.9 147.7

2000 March .............. June ................ September ...... December .......

146.4 147.9 149.3 150.7

145.5 146.6 147.2 148.6

146.6 148.2 149.7 151.1

146.5 148.2 149.8 150.9

145.3 146.9 148.4 149.5

149.2 150.9 152.5 154.0

142.6 143.9 145.4 146.8

143.4 145.0 146.2 147.9

144.9 146.7 148.2 149.2

141.0 143.0 145.0 146.9

145.7 147.2 148.7 149.7

147.4 149.0 150.5 152.1

143.9 145.6 147.2 148.6

150.2 151.4 152.1 154.7

143.2 144.6 146.0 147.1

152.0 153.1 155.2 155.7

149.4 151.2 152.7 154.3

2001 March .............. June ................ September ...... December .......

152.3 153.8 155.3 157.0

150.2 151.9 153.7 154.8

152.7 154.2 155.7 157.5

153.0 154.4 156.0 157.2

151.4 152.7 154.3 155.5

155.6 157.2 158.6 160.6

148.1 149.1 150.9 152.3

149.5 150.8 152.3 154.6

150.6 152.2 153.4 155.0

148.3 150.1 151.6 153.2

151.0 152.3 153.3 155.2

153.8 155.2 156.8 158.7

150.6 152.2 153.3 155.9

155.4 157.2 158.6 159.9

148.6 149.5 150.7 153.7

157.9 159.5 160.9 161.3

156.5 157.8 159.8 161.3

2002 March .............. June ................ September ...... December .......

158.3 159.9 161.2 162.5

156.1 157.4 159.5 161.2

158.8 160.5 161.5 162.8

159.0 160.5 161.6 162.4

157.1 158.7 159.7 160.5

161.8 163.6 164.5 165.7

153.5 154.8 156.2 157.9

156.0 157.1 158.8 159.9

156.1 157.7 159.1 160.9

154.2 155.0 156.2 158.1

156.1 157.6 159.1 161.4

160.0 161.8 162.7 163.7

157.4 158.6 160.5 162.2

162.2 165.6 165.8 167.4

153.4 155.4 155.8 156.2

165.2 167.3 168.0 168.5

162.6 163.7 164.7 165.7

2003 March .............. June ................ September ...... December .......

164.5 165.9 167.6 169.0

162.6 164.1 165.4 166.6

165.0 166.4 168.2 169.6

165.1 166.6 168.1 169.0

162.6 164.1 165.7 166.6

168.0 169.2 171.0 172.5

159.5 161.1 162.7 164.3

161.4 162.4 163.9 165.3

163.2 164.8 166.6 167.8

159.2 160.9 162.2 163.5

163.3 164.9 166.4 168.2

165.8 167.1 168.9 170.5

163.4 164.9 166.2 167.7

169.7 170.5 171.8 172.9

156.5 157.2 159.7 161.4

176.7 178.3 180.2 180.9

167.0 168.4 170.2 171.8

2004 March .............. June ................ September ...... December .......

170.9 172.5 174.1 175.5

168.1 169.6 171.0 172.5

171.5 173.1 174.8 176.2

171.6 173.2 174.6 175.6

169.3 171.0 172.4 173.0

174.1 175.5 177.1 178.7

166.7 168.4 170.0 171.6

166.8 168.3 169.2 170.4

170.7 172.4 174.6 176.3

164.8 165.7 166.9 167.5

170.9 172.7 174.8 176.6

171.9 173.5 174.9 176.2

170.0 171.9 173.2 174.3

174.0 175.1 177.5 177.6

162.1 163.5 164.0 165.1

182.5 183.6 184.8 186.0

173.4 175.1 176.6 178.3

1Includes private industry and 2Not seasonally adjusted.

. . . = Not available.

state and local government workers. Federal government workers are not included.

213

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS Table 9-2. Employment Cost Indexes—Wages and Salaries

(June 1989 [not seasonally adjusted] = 100; annual values are for December, not seasonally adjusted; quarterly values, seasonally adjusted, except as noted.) Private industry workers By occupational group Year and quarter

All civilian workers 1

State Private and local industry All govern- private workers ment industry excludworkers workers ing sales occupations 2

By industry division Goods-producing industries

Production and nonsupervisory occupations 2

Whitecollar occupations

Bluecollar occupations

Service occupations

Total

ConManustruction facturing

Service-producing industries

Total

Transportation and utilities

Wholesale trade

Retail trade

Finance, insurance, Services and real estate 2

1975 1976 1977 1978 1979

.................... .................... .................... .................... ....................

... ... ... ... ...

... ... ... ... ...

45.9 49.2 52.6 56.6 61.5

45.8 49.0 52.4 56.4 61.4

45.7 49.0 52.5 56.6 61.7

44.9 47.9 51.1 54.7 59.5

47.0 50.8 54.7 59.2 64.5

46.6 50.2 53.4 58.1 62.2

46.9 50.4 54.3 58.8 63.7

... 54.4 58.0 62.5 67.0

46.3 49.7 53.6 58.1 63.0

45.1 48.2 51.4 55.1 60.0

45.5 49.4 54.0 58.1 63.6

... ... 50.4 54.2 58.5

... 52.5 55.5 60.3 65.0

... ... ... 52.8 59.7

43.5 45.8 48.2 51.5 55.8

1980 1981 1982 1983 1984

.................... .................... .................... .................... ....................

... 72.2 76.7 80.6 84.2

... 68.3 72.8 76.6 81.2

67.1 73.0 77.6 81.4 84.8

67.0 73.0 77.7 81.5 85.3

67.5 73.6 78.2 82.0 85.2

64.6 70.5 75.1 79.6 83.0

70.7 76.7 81.0 84.1 87.1

67.3 72.9 79.1 82.7 87.8

69.7 75.7 80.0 83.2 86.4

72.9 79.3 83.4 85.8 86.9

68.9 74.9 79.1 82.5 86.1

65.3 71.1 75.9 80.2 83.7

70.7 76.6 82.1 86.3 89.2

64.4 69.4 73.7 78.2 82.5

69.6 74.8 77.8 81.1 85.3

64.1 70.5 75.1 80.5 79.8

60.6 67.0 72.4 77.2 82.1

1985 1986 1987 1988 1989

.................... .................... .................... .................... ....................

87.8 90.9 94.1 98.1 102.4

85.7 90.3 94.1 98.7 103.9

88.3 91.1 94.1 98.0 102.0

88.4 91.2 94.5 98.0 101.9

88.6 91.0 93.9 97.9 102.2

87.1 90.1 93.4 97.8 102.4

90.1 92.4 95.2 98.2 101.6

89.9 92.3 94.5 98.7 102.3

89.4 92.3 95.2 98.2 102.0

89.6 91.8 94.8 98.3 101.7

89.2 92.1 95.2 98.1 101.9

87.7 90.3 93.4 97.8 102.2

92.5 94.2 96.2 98.6 101.2

86.1 89.3 93.0 96.4 105.2

89.4 91.3 93.7 98.5 101.6

87.1 89.5 90.6 96.3 101.3

85.0 88.4 93.2 97.8 102.5

1990 1991 1992 1993 1994

.................... .................... .................... .................... ....................

106.8 110.6 113.6 117.1 120.4

109.4 113.2 116.6 119.7 123.4

106.1 110.0 112.9 116.4 119.7

106.2 110.2 113.2 116.6 120.0

105.9 109.6 112.6 115.9 119.1

106.6 110.7 113.7 117.5 120.8

105.2 108.8 111.6 114.8 118.0

106.4 110.6 112.9 115.3 118.8

105.8 109.7 112.8 116.1 119.6

103.7 106.8 108.9 111.1 114.7

106.2 110.3 113.7 117.3 120.8

106.3 110.2 113.0 116.6 119.7

104.6 108.4 111.8 115.4 119.6

106.2 110.3 113.5 116.4 119.9

105.3 109.2 111.8 115.0 117.8

104.8 108.4 108.3 112.9 114.2

108.3 112.2 116.1 119.6 123.0

1995 1996 1997 1998 1999

.................... .................... .................... .................... ....................

123.9 128.0 132.8 137.7 142.5

127.3 130.9 134.4 138.5 143.5

123.1 127.3 132.3 137.4 142.2

123.4 127.5 132.4 136.9 142.0

122.4 126.5 131.2 136.4 140.4

124.3 128.7 134.2 139.9 144.8

121.4 125.1 129.1 133.2 137.7

121.4 125.7 131.1 135.3 139.6

122.9 126.8 130.6 135.2 139.7

117.4 120.8 124.9 129.3 133.6

124.3 128.4 132.2 136.8 141.5

123.2 127.5 133.1 138.4 143.3

123.7 127.0 131.3 135.1 137.9

125.5 129.6 133.6 141.3 146.5

120.6 125.8 130.6 134.8 139.6

118.4 122.2 130.6 139.8 145.2

126.0 130.5 136.2 140.8 146.0

2000 2001 2002 2003 2004

.................... .................... .................... .................... ....................

147.9 153.4 157.8 162.3 166.2

148.3 153.7 158.6 161.9 165.3

147.7 153.3 157.5 162.3 166.2

147.6 153.3 157.5 162.4 166.5

146.0 151.5 155.2 159.4 163.4

150.6 156.1 160.4 165.9 170.0

142.8 148.3 152.4 156.1 159.9

144.9 150.6 154.5 157.8 160.6

145.2 150.5 155.0 158.7 162.4

140.7 146.3 150.2 154.0 157.0

146.5 151.7 156.5 160.1 164.0

148.9 154.5 158.6 163.9 167.9

142.3 149.2 154.1 156.5 160.5

151.6 154.8 161.0 165.3 167.5

145.2 150.7 152.7 156.5 159.3

151.7 156.0 162.6 174.5 177.7

151.8 158.2 161.7 166.7 172.0

1996 March .............. June ................ September ...... December .......

125.1 126.2 127.0 128.0

127.8 128.8 129.7 130.6

124.4 125.6 126.4 127.4

124.7 125.7 126.8 127.5

123.7 124.9 125.6 126.5

125.8 126.9 127.9 128.8

122.5 123.7 124.3 125.1

122.2 123.0 124.1 125.7

123.9 125.1 126.1 126.8

118.5 119.4 120.1 121.1

125.4 126.5 127.7 128.4

124.7 125.8 126.6 127.7

124.5 125.1 125.9 127.0

126.3 127.8 128.5 129.6

122.9 123.0 124.1 126.2

119.8 121.9 122.2 122.2

127.5 128.8 129.6 130.6

1997 March .............. June ................ September ...... December .......

129.1 130.2 131.3 132.8

131.4 132.2 133.1 134.1

128.5 129.7 130.9 132.5

128.6 129.9 131.2 132.4

127.7 128.8 130.1 131.2

130.2 131.2 132.6 134.4

126.0 127.3 128.3 129.1

126.6 127.6 129.9 131.1

127.5 128.9 129.9 130.6

122.2 123.4 124.5 125.2

129.1 130.3 131.3 132.2

129.0 130.1 131.4 133.3

128.2 128.9 130.0 131.3

131.6 132.1 133.0 133.5

127.1 128.3 129.7 131.0

124.5 125.3 126.4 130.6

131.7 133.1 134.6 136.3

1998 March .............. June ................ September ...... December .......

133.9 135.1 136.6 137.7

135.2 136.1 137.1 138.2

133.7 134.8 136.5 137.6

133.7 134.8 136.3 136.9

132.3 133.6 135.2 136.4

135.7 136.9 138.9 140.1

130.2 131.3 132.4 133.2

132.1 133.0 134.4 135.3

132.0 133.2 134.3 135.2

126.1 127.8 128.3 129.6

133.7 134.6 136.0 136.8

134.4 135.5 137.5 138.6

132.1 132.8 134.3 135.1

136.4 136.9 139.3 141.2

131.9 133.1 135.0 135.2

132.6 134.8 138.1 139.8

137.2 138.4 139.9 140.9

1999 March .............. June ................ September ...... December .......

138.3 139.8 141.1 142.5

139.1 140.4 141.7 143.2

138.1 139.7 140.9 142.3

138.2 139.6 140.8 142.0

136.8 138.2 139.3 140.4

140.3 142.0 143.4 145.0

134.3 135.6 136.8 137.7

136.7 137.8 138.0 139.6

136.3 137.3 138.5 139.7

130.8 131.6 132.9 133.8

137.9 139.0 140.2 141.5

138.9 140.7 142.0 143.5

135.4 136.8 137.5 137.9

141.0 142.0 144.3 146.5

136.2 138.1 138.7 140.0

137.2 142.4 144.5 145.2

142.2 143.3 144.4 146.1

2000 March .............. June ................ September ...... December .......

144.0 145.4 146.7 147.9

144.4 145.5 146.7 148.0

143.9 145.4 146.7 147.9

143.5 145.1 146.5 147.6

142.1 143.7 145.0 146.0

146.6 148.2 149.6 150.9

139.1 140.5 141.9 142.8

141.0 142.5 143.5 144.9

141.3 143.0 144.3 145.2

136.1 137.8 139.3 140.9

142.9 144.4 145.7 146.5

145.0 146.4 147.8 149.1

138.5 140.0 141.3 142.3

147.8 148.9 149.7 151.7

142.1 143.3 144.6 145.5

148.7 149.5 151.7 151.7

147.4 149.2 150.4 151.9

2001 March .............. June ................ September ...... December .......

149.4 150.8 152.1 153.4

149.4 150.9 152.5 153.4

149.5 150.8 152.0 153.4

149.5 150.8 152.2 153.3

147.7 149.0 150.3 151.5

152.3 153.7 154.6 156.4

144.6 145.9 147.5 148.3

146.4 147.5 148.7 150.6

147.0 148.6 149.5 150.5

142.2 143.7 145.0 146.5

148.5 150.0 150.7 151.7

150.5 151.8 153.0 154.7

143.7 145.7 146.7 149.2

152.0 153.8 154.2 155.1

147.0 147.6 148.6 151.0

153.9 154.6 155.8 156.0

153.8 155.1 156.9 158.3

2002 March .............. June ................ September ...... December .......

154.7 156.1 156.9 157.8

154.5 155.6 157.2 158.3

154.8 156.2 156.9 157.7

154.9 156.1 157.0 157.5

152.7 154.0 154.7 155.2

157.7 159.2 159.8 160.7

149.6 150.9 151.7 152.4

152.0 152.8 153.9 154.5

151.7 153.1 153.9 155.0

147.1 148.0 148.8 150.4

153.1 154.5 155.4 156.5

156.1 157.6 158.2 158.8

150.5 152.1 153.4 154.1

157.5 160.5 160.5 161.6

151.0 152.5 152.7 153.0

160.3 162.0 162.4 162.6

159.5 160.4 161.2 161.8

2003 March .............. June ................ September ...... December .......

159.3 160.3 161.5 162.3

159.3 160.3 160.8 161.6

159.3 160.3 161.6 162.5

159.4 160.5 161.7 162.4

156.4 157.4 158.8 159.4

162.6 163.6 165.1 166.3

153.6 154.6 155.6 156.1

155.5 156.1 157.1 157.8

156.3 157.4 158.3 158.7

150.7 152.3 153.4 154.3

158.0 159.0 159.7 160.1

160.7 161.6 163.1 164.2

154.8 155.6 156.0 156.5

163.6 163.8 164.8 166.0

153.2 153.6 156.1 156.8

171.1 172.4 174.1 174.5

162.8 164.1 165.6 166.9

2004 March .............. June ................ September ...... December .......

163.3 164.3 165.4 166.2

162.6 163.4 164.1 165.1

163.5 164.5 165.7 166.4

163.5 164.5 165.8 166.5

160.7 161.7 163.1 163.4

167.1 168.1 169.4 170.4

157.2 158.3 159.5 159.9

158.4 159.3 159.8 160.6

159.9 160.9 162.3 162.4

155.2 155.8 156.8 157.3

161.3 162.4 163.8 164.0

165.1 166.0 167.2 168.2

157.6 159.1 160.4 160.5

166.3 166.9 169.6 168.3

157.4 158.3 158.5 159.5

175.2 175.3 176.5 177.7

168.1 169.4 170.8 172.2

1Includes private industry and 2Not seasonally adjusted.

. . . = Not available.

state and local government workers. Federal government workers are not included.

214

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 9-3. Employment Cost Indexes—Benefit Costs (June 1989 [not seasonally adjusted] = 100; annual values are for December, not seasonally adjusted; quarterly values, seasonally adjusted, except as noted.) Private industry workers Year and quarter

1979 .........................................

All civilian workers 1

State and local government workers

By occupational group All private industry workers

White-collar occupations

Blue-collar occupations

By industry division

Service occupations

Goods-producing industries Total

Manufacturing

Serviceproducing industries

Nonmanufacturing

...

...

53.2

52.1

54.8

...

54.6

54.2

51.9

52.5

1980 1981 1982 1983 1984

......................................... ......................................... ......................................... ......................................... .........................................

... 65.5 70.4 75.7 80.9

... ... ... ... ...

59.4 66.6 71.4 76.7 81.7

58.4 65.7 70.2 75.5 80.9

60.9 68.1 73.1 78.4 83.0

... ... ... ... ...

60.5 68.2 73.2 78.3 83.2

59.9 67.5 72.4 77.5 82.7

58.4 65.1 69.6 75.2 80.4

59.1 66.1 70.6 76.2 81.1

1985 1986 1987 1988 1989

......................................... ......................................... ......................................... ......................................... .........................................

84.1 87.3 90.5 96.8 103.2

... ... ... ... 105.3

84.6 87.5 90.5 96.7 102.6

84.3 87.3 90.5 96.2 102.6

85.1 87.7 90.7 97.4 102.6

84.0 87.6 89.7 96.8 103.0

85.7 88.3 90.9 97.3 102.6

85.0 87.5 89.8 96.6 102.3

83.6 86.8 90.2 96.1 102.6

84.4 87.5 91.0 96.8 102.8

1990 1991 1992 1993 1994

......................................... ......................................... ......................................... ......................................... .........................................

110.1 116.3 122.5 128.1 132.5

112.7 117.1 123.4 127.0 130.5

109.4 116.2 122.2 128.3 133.0

109.7 116.4 122.0 127.6 133.3

109.0 115.7 122.2 128.9 132.5

109.9 117.8 124.6 131.5 134.7

109.9 116.7 123.4 130.3 134.8

109.5 116.1 122.6 130.0 134.3

109.0 115.7 121.2 126.7 131.5

109.3 116.2 122.0 127.4 132.3

1995 1996 1997 1998 1999

......................................... ......................................... ......................................... ......................................... .........................................

135.5 138.2 141.1 144.7 149.5

133.9 136.8 138.6 142.7 146.7

135.9 138.6 141.8 145.2 150.2

136.7 139.7 143.4 147.4 152.5

134.7 137.0 139.0 141.6 146.2

136.0 137.4 142.0 144.8 149.9

137.1 139.7 141.5 143.2 148.2

136.7 139.8 141.7 142.7 147.8

134.7 137.4 141.4 145.7 150.7

135.3 137.9 141.5 145.8 150.7

2000 2001 2002 2003 2004

......................................... ......................................... ......................................... ......................................... .........................................

156.9 165.1 173.3 184.3 197.0

150.2 158.4 168.2 178.5 190.4

158.6 166.7 174.6 185.8 198.7

161.5 171.2 178.5 189.2 201.1

154.1 159.2 167.8 179.9 194.9

156.4 166.0 174.9 186.4 198.2

156.2 162.6 171.0 183.8 201.2

154.8 160.4 168.9 182.3 200.4

159.4 168.4 175.9 186.2 196.5

159.7 168.8 176.3 186.7 197.6

1996 March ................................... June ...................................... September ............................ December .............................

135.9 136.7 137.4 138.3

134.7 135.4 135.8 136.8

136.2 136.9 137.7 138.6

137.5 138.3 139.5 140.1

135.3 136.0 136.1 137.1

135.7 136.3 136.2 137.4

137.5 138.4 138.8 140.1

137.3 138.3 138.9 140.1

135.4 136.1 137.1 137.7

135.9 136.6 137.4 138.2

1997 March ................................... June ...................................... September ............................ December .............................

138.6 139.3 139.9 141.2

137.3 137.7 138.0 138.6

138.9 139.7 140.4 141.8

140.6 141.3 141.9 143.8

137.3 137.8 138.7 139.1

138.3 139.6 141.4 142.1

139.8 140.7 141.5 141.9

139.7 140.8 141.5 142.0

138.4 139.1 139.7 141.8

138.8 139.4 140.1 141.9

1998 March ................................... June ...................................... September ............................ December .............................

141.6 142.7 143.7 144.7

139.6 140.7 141.9 142.7

142.1 143.1 144.1 145.2

144.5 145.4 146.5 147.9

139.2 140.2 141.0 141.7

143.2 143.7 144.7 144.9

141.4 142.3 143.0 143.5

141.6 142.2 142.7 143.0

142.6 143.6 144.7 146.2

142.7 143.7 144.9 146.2

1999 March ................................... June ...................................... September ............................ December .............................

144.9 146.3 147.5 149.6

143.4 144.5 144.6 146.7

145.2 146.7 148.2 150.3

147.7 149.2 150.9 153.1

142.3 143.4 144.7 146.6

146.2 147.6 148.4 150.1

144.1 145.0 146.3 148.7

143.3 144.2 145.8 148.4

145.9 147.7 149.3 151.2

146.1 147.8 149.3 151.2

2000 March ................................... June ...................................... September ............................ December .............................

152.1 153.9 155.4 157.3

148.0 149.1 148.6 150.1

153.1 155.1 157.0 158.9

155.9 158.2 160.4 162.3

149.9 151.3 153.0 154.7

150.6 152.5 154.5 156.9

151.9 153.9 155.8 157.0

151.7 153.5 155.1 155.9

153.8 155.8 157.7 160.1

153.8 155.9 158.0 160.3

2001 March ................................... June ...................................... September ............................ December .............................

159.1 160.9 163.2 165.5

152.1 154.3 156.7 158.2

160.7 162.4 164.7 167.2

164.7 167.0 169.5 172.2

155.4 155.9 158.3 160.1

159.1 160.9 163.3 166.8

157.8 159.1 161.0 163.8

156.2 157.3 158.8 161.9

162.4 164.3 166.9 169.2

162.6 164.6 167.3 169.5

2002 March ................................... June ...................................... September ............................ December .............................

166.7 168.9 171.2 173.9

159.8 161.6 165.0 167.9

168.3 170.6 172.7 175.2

172.9 175.6 177.3 179.7

161.7 163.5 166.3 169.0

168.2 170.1 173.5 176.1

164.8 166.7 169.2 172.5

162.4 164.7 167.3 170.9

170.4 172.9 174.7 176.8

170.8 173.1 175.1 177.2

2003 March ................................... June ...................................... September ............................ December .............................

177.0 179.3 182.4 185.1

170.5 172.8 176.0 178.2

178.5 180.9 183.9 186.7

182.9 184.9 187.9 190.5

171.9 175.3 178.6 181.5

179.1 181.6 184.3 188.0

176.7 179.3 182.9 185.7

175.2 178.0 181.7 184.9

179.6 181.8 184.5 187.3

179.9 182.3 185.1 187.7

2004 March ................................... June ...................................... September ............................ December .............................

189.1 192.2 194.9 198.0

181.1 184.3 187.3 190.1

190.9 194.1 196.7 199.9

193.6 196.6 199.3 202.5

187.2 190.7 193.7 196.8

192.1 195.4 197.8 200.2

192.1 195.0 198.9 203.5

192.2 195.6 199.8 203.5

190.2 193.5 195.3 197.7

190.5 193.7 195.7 198.7

1Includes

private industry and state and local government workers. Federal government workers are not included. . . . = Not available.

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS

Section 9b: Productivity and Related Data

Figure 9-2. Change in Labor Productivity, Nonfarm Business, 1948–2004 7 6

Percent change

5 4 3 2 1 0 -1 -2 1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004 2003

Year

• Typically, for most of the period since World War II, output per hour in nonfarm business grew little or declined in recession years. However, in 2001, productivity growth barely slowed. In 2002, productivity grew 4.0 percent. It slowed only slightly to 3.8 percent in 2003 and 3.4 percent in 2004—a sustained three-year record unmatched since the early 1960s. (Table 9-4) • Unit labor costs were lower in 2003 than in 2001, as productivity growth completely offset the increase in hourly compensation. Late in 2004, there was a surge in compensation. In testimony given to the Joint Economic Committee on June 9, 2005, Federal Reserve Chairman Alan Greenspan said this is due to “a large but apparently transitory surge in bonuses and the proceeds of stock option exercises.” Even with this increase, unit labor costs were up only 1.1 percent for 2004 as a whole—still less than the overall price increase for the nonfarm business sector, as measured by the implicit price deflator. (Table 9-4) • For nonfinancial businesses, unit profits and “unit nonlabor costs” (for example, depreciation and interest) can be calculated separately. Unit nonlabor costs rose rapidly in 2001—a typical effect of recession, since such costs cannot be reduced as fast as output declines—but have declined since then. Unit profits, which had been declining since 1997, rose sharply in 2002, 2003, and 2004. (Table 9-4)

215

216

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 9-4. Productivity and Related Data (1992 = 100, seasonally adjusted.) Business sector Year and quarter

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Nonfarm business sector Unit labor costs

Unit nonlabor payments

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

Unit nonlabor payments

Implicit price deflator

1947 ...................... 1948 ...................... 1949 ......................

32.2 33.7 34.5

20.4 21.5 21.3

63.4 63.8 61.8

7.0 7.6 7.7

40.7 40.9 42.0

21.8 22.6 22.4

18.6 20.6 20.4

20.6 21.8 21.6

37.0 38.0 39.3

20.1 20.9 20.8

54.2 55.1 53.0

7.5 8.1 8.3

43.3 43.6 45.4

20.2 21.3 21.2

17.8 19.4 20.0

19.3 20.6 20.8

1950 1951 1952 1953 1954

...................... ...................... ...................... ...................... ......................

37.3 38.5 39.6 41.0 41.9

23.4 24.9 25.7 26.9 26.6

62.7 64.7 64.8 65.6 63.4

8.3 9.0 9.6 10.2 10.5

44.4 45.0 46.9 49.5 50.7

22.1 23.5 24.2 24.9 25.2

21.5 23.7 23.2 22.6 22.5

21.9 23.6 23.8 24.0 24.2

41.9 43.0 43.8 44.8 45.6

22.9 24.6 25.3 26.6 26.1

54.7 57.2 57.9 59.3 57.3

8.8 9.6 10.1 10.7 11.0

47.5 47.8 49.5 51.9 53.1

21.1 22.3 23.1 23.9 24.2

20.8 22.4 22.3 22.2 22.3

21.0 22.4 22.8 23.3 23.5

1955 1956 1957 1958 1959

...................... ...................... ...................... ...................... ......................

43.6 43.6 45.0 46.3 48.0

28.7 29.1 29.6 29.1 31.4

65.8 66.8 65.8 62.9 65.5

10.8 11.5 12.3 12.8 13.3

52.2 54.8 56.5 57.4 59.4

24.8 26.4 27.3 27.7 27.8

24.0 23.4 24.2 24.7 25.2

24.5 25.3 26.1 26.6 26.8

47.5 47.1 48.4 49.4 51.3

28.3 28.8 29.4 28.7 31.2

59.6 61.1 60.7 58.2 60.9

11.4 12.1 12.8 13.4 13.9

55.3 57.8 59.2 59.9 61.8

24.1 25.8 26.6 27.0 27.1

23.6 23.1 23.8 24.1 25.0

23.9 24.8 25.6 26.0 26.3

1960 1961 1962 1963 1964

...................... ...................... ...................... ...................... ......................

48.9 50.6 52.9 54.9 56.8

32.0 32.7 34.8 36.4 38.7

65.6 64.6 65.8 66.2 68.1

13.9 14.4 15.1 15.6 16.2

60.8 62.5 64.6 66.1 67.7

28.4 28.5 28.5 28.4 28.5

24.8 25.2 26.1 26.6 27.3

27.1 27.3 27.6 27.7 28.1

51.9 53.5 55.9 57.8 59.6

31.8 32.4 34.6 36.2 38.7

61.2 60.6 61.9 62.6 64.9

14.5 15.0 15.6 16.1 16.6

63.3 64.8 66.7 68.1 69.3

27.9 28.0 27.8 27.8 27.9

24.3 24.8 25.8 26.3 27.2

26.6 26.8 27.1 27.3 27.6

1965 1966 1967 1968 1969

...................... ...................... ...................... ...................... ......................

58.8 61.2 62.5 64.7 65.0

41.4 44.2 45.1 47.3 48.8

70.5 72.3 72.1 73.2 75.0

16.8 17.9 19.0 20.5 21.9

69.1 71.7 73.5 76.2 77.3

28.6 29.3 30.3 31.7 33.7

28.4 29.0 29.5 30.4 30.8

28.5 29.2 30.0 31.2 32.6

61.4 63.6 64.7 66.9 67.0

41.4 44.4 45.1 47.5 48.9

67.4 69.8 69.8 71.0 73.0

17.1 18.2 19.2 20.7 22.1

70.5 72.6 74.5 77.1 78.1

27.9 28.6 29.7 31.0 33.0

28.1 28.7 29.2 30.2 30.5

28.0 28.6 29.5 30.7 32.1

1970 1971 1972 1973 1974

...................... ...................... ...................... ...................... ......................

66.3 69.0 71.2 73.4 72.2

48.7 50.6 53.9 57.6 56.8

73.5 73.3 75.6 78.5 78.7

23.6 25.1 26.7 28.9 31.7

78.8 80.2 82.6 84.3 83.3

35.6 36.3 37.4 39.4 43.9

31.5 34.1 35.7 37.5 39.9

34.1 35.5 36.8 38.7 42.4

68.0 70.7 73.1 75.3 74.2

48.9 50.7 54.1 58.0 57.3

71.9 71.7 74.0 77.1 77.2

23.7 25.2 26.9 29.1 31.9

79.2 80.7 83.2 84.8 83.8

34.9 35.7 36.8 38.6 43.0

31.2 33.7 34.9 35.3 38.1

33.5 35.0 36.1 37.4 41.2

1975 1976 1977 1978 1979

...................... ...................... ...................... ...................... ......................

74.8 77.1 78.4 79.3 79.3

56.3 60.0 63.3 67.3 69.6

75.3 77.8 80.8 84.9 87.8

34.9 38.0 41.0 44.5 48.9

84.1 86.4 87.6 89.1 89.3

46.7 49.2 52.2 56.2 61.7

46.3 48.7 51.5 54.8 58.2

46.6 49.0 52.0 55.6 60.4

76.2 78.7 80.0 81.0 80.7

56.3 60.2 63.6 67.8 70.0

73.9 76.5 79.5 83.7 86.6

35.1 38.1 41.2 44.8 49.1

84.5 86.6 88.0 89.6 89.7

46.1 48.4 51.5 55.3 60.8

44.9 47.8 50.7 53.4 56.5

45.6 48.1 51.2 54.6 59.2

1980 1981 1982 1983 1984

...................... ...................... ...................... ...................... ......................

79.1 80.8 80.1 83.0 85.2

68.8 70.7 68.6 72.3 78.6

87.0 87.6 85.6 87.1 92.2

54.1 59.3 63.6 66.3 69.1

89.1 89.3 90.4 90.3 90.7

68.4 73.5 79.4 79.8 81.2

61.3 69.1 70.1 76.3 80.2

65.8 71.8 75.9 78.5 80.8

80.6 81.7 80.8 84.5 86.1

69.2 70.7 68.4 72.9 78.9

85.9 86.6 84.7 86.3 91.6

54.4 59.7 64.0 66.6 69.5

89.5 89.8 90.8 90.9 91.1

67.5 73.1 79.1 78.9 80.7

60.4 67.7 69.3 76.0 79.1

64.9 71.1 75.5 77.9 80.1

1985 1986 1987 1988 1989

...................... ...................... ...................... ...................... ......................

87.1 89.8 90.3 91.7 92.6

82.2 85.3 88.3 92.1 95.4

94.3 95.0 97.7 100.4 103.1

72.5 76.2 79.1 83.1 85.3

92.0 95.0 95.3 96.6 95.1

83.2 84.9 87.6 90.6 92.1

82.0 82.6 83.1 85.2 91.4

82.7 84.1 85.9 88.6 91.9

87.4 90.1 90.6 92.1 92.7

82.2 85.4 88.4 92.4 95.7

94.0 94.7 97.6 100.4 103.2

72.6 76.4 79.2 83.1 85.2

92.2 95.2 95.4 96.6 95.0

83.1 84.8 87.4 90.3 91.9

81.5 82.3 82.7 85.0 90.9

82.5 83.9 85.7 88.3 91.5

1990 1991 1992 1993 1994

...................... ...................... ...................... ...................... ......................

94.5 95.9 100.0 100.4 101.5

96.9 96.1 100.0 103.1 108.2

102.6 100.2 100.0 102.7 106.7

90.6 95.1 100.0 102.2 103.7

96.3 97.4 100.0 99.7 99.1

96.0 99.1 100.0 101.8 102.2

93.8 96.6 100.0 102.6 106.8

95.1 98.2 100.0 102.1 103.9

94.5 96.1 100.0 100.4 101.6

97.1 96.3 100.0 103.4 108.3

102.7 100.2 100.0 102.9 106.5

90.4 95.0 100.0 102.0 103.7

96.0 97.4 100.0 99.5 99.1

95.7 98.9 100.0 101.5 102.1

93.5 96.8 100.0 103.1 107.3

94.9 98.1 100.0 102.1 104.0

1995 1996 1997 1998 1999

...................... ...................... ...................... ...................... ......................

101.6 104.7 106.7 109.7 112.9

111.4 116.5 122.7 128.6 135.2

109.6 111.3 115.0 117.3 119.7

105.9 109.6 113.1 120.0 125.8

98.8 99.6 100.6 105.3 108.1

104.2 104.7 106.1 109.4 111.4

108.4 112.0 113.9 110.1 109.5

105.7 107.4 109.0 109.7 110.7

102.1 104.9 106.6 109.5 112.6

111.8 116.8 122.8 128.9 135.6

109.4 111.4 115.3 117.7 120.4

106.0 109.5 112.9 119.6 125.2

98.9 99.5 100.4 105.0 107.5

103.7 104.5 105.9 109.3 111.2

109.4 112.2 114.6 111.1 111.1

105.8 107.3 109.1 109.9 111.1

2000 2001 2002 2003 2004

...................... ...................... ...................... ...................... ......................

116.1 119.0 123.8 128.6 133.0

140.5 141.0 143.1 147.9 154.9

121.0 118.4 115.6 115.0 116.5

134.5 140.2 145.0 150.7 157.7

111.9 113.4 115.4 117.3 119.5

115.9 117.7 117.1 117.2 118.6

107.4 110.2 114.4 118.6 123.9

112.7 114.9 116.1 117.7 120.6

115.6 118.5 123.3 128.0 132.3

140.8 141.3 143.4 148.2 155.3

121.8 119.3 116.3 115.8 117.4

134.0 139.3 144.2 149.9 156.7

111.4 112.6 114.8 116.7 118.7

115.9 117.5 117.0 117.1 118.4

108.9 111.8 116.3 120.0 124.7

113.3 115.4 116.7 118.2 120.7

2002 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

122.7 123.2 124.6 124.7

141.9 142.6 143.8 144.0

115.7 115.7 115.4 115.5

143.5 145.0 145.7 145.8

115.4 115.7 115.7 115.1

116.9 117.7 116.9 116.9

113.3 112.9 115.0 116.3

115.6 115.9 116.2 116.7

122.5 122.7 123.9 124.0

142.5 143.0 144.1 144.1

116.3 116.5 116.3 116.2

142.7 144.2 144.8 145.0

114.8 115.0 114.9 114.5

116.5 117.5 116.9 116.9

115.2 115.0 116.9 118.0

116.0 116.6 116.9 117.3

2003 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

125.6 127.9 130.5 130.6

144.6 146.4 149.8 150.8

115.2 114.5 114.8 115.5

147.8 150.3 152.0 152.8

115.5 117.3 118.0 118.4

117.7 117.5 116.4 117.0

116.4 117.2 120.3 120.5

117.2 117.4 117.9 118.3

124.9 126.9 129.9 130.1

144.8 146.5 150.2 151.2

115.9 115.4 115.6 116.2

147.0 149.3 151.2 152.2

114.9 116.5 117.4 117.9

117.7 117.6 116.4 116.9

118.2 118.7 121.6 121.3

117.9 118.0 118.3 118.6

2004 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

131.7 132.8 133.3 134.3

152.6 154.1 155.8 157.2

115.9 116.1 116.9 117.1

154.4 155.7 158.2 162.5

118.5 118.2 119.6 121.8

117.3 117.2 118.7 121.0

123.0 126.1 124.2 122.3

119.4 120.5 120.7 121.5

130.8 132.2 132.7 133.5

152.8 154.5 156.3 157.7

116.8 116.8 117.8 118.2

153.5 154.9 157.2 161.0

117.8 117.6 118.8 120.7

117.3 117.1 118.5 120.7

123.5 126.5 125.3 123.7

119.6 120.6 121.0 121.8

217

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS Table 9-4. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Nonfinancial corporations Year and quarter

Output per hour of all employees

Output

Employee hours

Real Compencompensation sation per hour per hour

Manufacturing

Unit costs Total

Labor costs

Nonlabor costs

Unit profits

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

1947 ...................... 1948 ...................... 1949 ......................

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

...................... ...................... ...................... ...................... ......................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

...................... ...................... ...................... ...................... ......................

... ... ... 52.8 55.3

... ... ... 25.4 28.2

... ... ... 48.0 50.9

... ... ... 15.0 15.6

... ... ... 67.2 69.3

... ... ... 27.1 26.6

... ... ... 28.4 28.1

... ... ... 23.5 22.3

... ... ... 47.2 55.8

... ... ... 28.9 29.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

...................... ...................... ...................... ...................... ......................

56.2 57.9 60.4 62.6 63.5

29.1 29.7 32.2 34.1 36.5

51.8 51.3 53.3 54.5 57.5

16.2 16.7 17.4 17.9 18.2

70.8 72.4 74.4 75.7 76.2

27.3 27.5 27.3 27.2 27.2

28.8 28.8 28.7 28.6 28.7

23.3 23.8 23.4 23.4 23.3

50.2 50.3 54.5 57.3 59.7

29.4 29.5 29.7 29.9 30.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

...................... ...................... ...................... ...................... ......................

65.1 66.2 67.1 69.5 69.5

39.5 42.3 43.4 46.1 47.9

60.7 63.9 64.6 66.4 69.0

18.8 19.8 20.9 22.5 24.0

77.1 79.2 81.1 83.7 84.8

27.3 28.2 29.4 30.7 33.0

28.8 29.9 31.2 32.4 34.6

23.1 23.3 24.7 26.2 28.6

64.1 63.6 59.9 60.0 54.0

30.6 31.3 32.2 33.4 34.8

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

...................... ...................... ...................... ...................... ......................

69.8 72.7 74.2 74.8 73.3

47.4 49.3 53.1 56.3 55.3

67.9 67.9 71.6 75.2 75.5

25.7 27.3 28.8 31.0 33.9

85.9 87.4 89.2 90.4 89.2

35.6 36.5 37.5 39.9 44.9

36.9 37.6 38.8 41.4 46.3

32.2 33.6 33.9 35.7 41.1

44.4 50.5 54.1 54.9 48.4

36.4 37.8 39.0 41.2 45.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

...................... ...................... ...................... ...................... ......................

76.1 78.6 80.6 81.7 81.0

54.6 58.9 63.2 67.4 69.5

71.7 75.0 78.4 82.5 85.8

37.3 40.3 43.5 47.6 51.9

89.7 91.8 93.0 95.1 94.9

48.3 50.0 52.5 56.4 61.9

49.0 51.3 54.0 58.2 64.1

46.6 46.4 48.4 51.2 55.8

63.1 71.4 77.3 79.1 74.0

49.6 51.9 54.7 58.4 62.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

...................... ...................... ...................... ...................... ......................

80.8 82.9 83.1 85.7 87.8

68.8 71.6 69.9 73.1 79.7

85.2 86.4 84.1 85.3 90.8

57.2 62.4 66.4 68.9 71.9

94.1 93.9 94.4 94.0 94.3

69.2 74.8 80.4 80.7 81.7

70.8 75.3 80.0 80.4 81.9

64.9 73.4 81.3 81.6 81.3

66.9 81.0 75.2 91.2 107.6

69.0 75.4 79.9 81.7 84.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

...................... ...................... ...................... ...................... ......................

89.6 91.4 93.3 95.7 94.6

83.2 85.2 89.7 94.9 96.6

92.9 93.2 96.1 99.1 102.2

75.2 78.9 81.6 84.9 87.0

95.4 98.3 98.3 98.7 97.0

83.8 86.3 87.0 88.2 92.4

83.9 86.3 87.4 88.7 92.0

83.6 86.3 85.8 86.8 93.3

102.3 90.2 100.1 111.6 101.2

85.5 86.6 88.1 90.3 93.2

... ... 88.4 90.0 90.3

... ... 91.7 96.3 97.2

... ... 103.8 107.0 107.6

... ... 81.3 84.1 86.6

... ... 98.0 97.8 96.6

... ... 92.0 93.4 95.9

1990 1991 1992 1993 1994

...................... ...................... ...................... ...................... ......................

95.4 97.4 100.0 100.3 102.2

97.8 97.0 100.0 102.8 109.2

102.5 99.6 100.0 102.4 106.8

91.1 95.5 100.0 101.8 103.5

96.8 97.9 100.0 99.3 98.9

96.0 99.3 100.0 101.0 101.2

95.5 98.0 100.0 101.4 101.3

97.3 102.7 100.0 99.9 100.8

96.9 93.2 100.0 114.1 131.7

96.1 98.7 100.0 102.2 103.9

92.9 95.4 100.0 102.7 106.1

97.6 96.0 100.0 104.1 110.0

105.0 100.5 100.0 101.4 103.8

90.5 95.6 100.0 102.0 105.3

96.1 98.0 100.0 99.5 100.6

97.3 100.1 100.0 99.3 99.3

1995 1996 1997 1998 1999

...................... ...................... ...................... ...................... ......................

103.3 107.1 109.9 113.5 117.3

114.3 120.6 128.4 135.8 144.0

110.6 112.6 116.9 119.7 122.8

105.3 108.5 111.7 118.1 123.6

98.3 98.5 99.4 103.6 106.2

101.7 100.9 101.1 102.9 104.0

101.9 101.3 101.7 104.1 105.3

101.2 100.0 99.7 99.5 100.4

136.9 150.0 154.3 137.0 129.1

104.9 105.3 105.9 105.9 106.2

109.9 113.9 118.0 123.6 128.1

115.0 118.6 125.1 130.7 134.6

104.6 104.2 106.0 105.7 105.1

107.3 109.3 112.2 118.7 123.4

100.1 99.3 99.8 104.2 106.0

97.6 96.0 95.1 96.0 96.4

2000 2001 2002 2003 2004

...................... ...................... ...................... ...................... ......................

121.5 123.5 128.2 133.5 138.7

151.5 150.2 151.5 155.6 163.8

124.7 121.6 118.1 116.5 118.1

132.0 137.3 142.0 147.6 153.5

109.7 111.1 113.0 114.8 116.4

107.4 111.6 110.7 110.6 110.6

108.6 111.2 110.7 110.5 110.7

104.2 112.6 110.8 110.9 110.5

108.7 82.2 98.0 116.7 138.0

107.5 108.9 109.6 111.2 113.1

134.1 136.9 147.3 154.8 163.0

138.6 132.3 132.2 132.2 138.6

103.4 96.6 89.8 85.4 85.0

134.7 137.8 147.9 160.1 163.6

112.0 111.5 117.7 124.6 124.0

100.5 100.7 100.4 103.4 100.4

2002 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

126.0 127.9 129.1 130.1

149.3 151.4 152.2 153.0

118.5 118.4 117.9 117.6

140.1 141.8 142.7 143.2

112.7 113.1 113.3 113.1

111.7 110.9 110.4 110.0

111.2 110.9 110.6 110.1

113.0 110.7 110.0 109.6

85.8 94.5 100.3 111.2

109.4 109.4 109.5 110.1

144.4 146.5 148.7 149.5

131.1 132.4 133.2 132.1

90.8 90.4 89.6 88.4

144.7 147.6 149.0 150.2

116.3 117.7 118.3 118.6

100.2 100.8 100.2 100.5

2003 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

130.4 132.7 135.1 135.9

152.3 154.3 156.9 158.7

116.8 116.3 116.2 116.8

144.6 147.0 148.9 149.8

113.0 114.8 115.6 116.0

111.0 110.7 110.4 110.4

110.9 110.8 110.2 110.2

111.4 110.5 110.9 110.8

107.8 113.7 119.9 124.8

110.7 111.0 111.3 111.7

151.6 152.9 156.9 158.1

131.8 130.7 132.1 134.2

86.9 85.5 84.2 84.9

156.5 159.2 161.5 163.2

122.3 124.3 125.4 126.5

103.2 104.1 102.9 103.2

2004 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

136.1 136.9 139.4 142.3

160.0 161.3 165.0 169.0

117.5 117.8 118.4 118.8

150.3 151.7 154.0 158.0

115.4 115.2 116.5 118.4

110.7 111.0 110.5 110.5

110.4 110.8 110.5 111.0

111.4 111.5 110.3 108.8

130.2 138.6 139.7 143.1

112.4 113.4 113.1 113.4

159.3 162.2 164.0 166.5

136.0 138.0 139.4 141.0

85.4 85.1 85.0 84.7

159.1 161.1 164.9 169.3

122.1 122.3 124.7 126.9

99.9 99.3 100.6 101.7

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Section 9c: Profits by Industry

Figure 9-3. Corporate Profits with IVA by Major Sector, 1948–2004 (ratio scale) 6.5

5.2

Billions of dollars

218

3.9

2.6 Domestic nonfinancial 1.3

Domestic financial other than FR Rest of the world

0.0 1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• Total profits of U.S. corporations, adjusted for inventory valuation (IVA) but without the capital consumption adjustment, rose at a 6.2 percent annual rate between 1948 and 2004. (Tables 9-5 and 9-6) This was less than the rate of increase in total national income, which was 6.9 percent over the same period. However, another component of the capital share of income—net interest—has increased at a nearly 10 percent annual rate over the last 56 years. (Table 1-1) • Profits rose 42 percent in the three years from 2001 through 2004, after sinking 11 percent from the previous high in 1997 through 2001. The financial sector (other than the Federal Reserve) led the way for the first two years of recovery, but fell back slightly in 2004 when the nonfinancial sector surged. (Tables 9-5 and 9-6) • Looking at the NAICS industries shown in Table 9-6 back to 1998—the first year for which the new classification system is available—indicates that most of the nonfinancial industry groups, including durable goods manufacturing industries, have not regained the relatively high profits totals of 1998. The industries surpassing their pre-recession highs are petroleum products, wholesale trade, retail trade, and “other nonfinancial” industries (mainly services). (Table 9-6)

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS

219

Table 9-5. Corporate Profits with Inventory Valuation Adjustment by Industry Group (SIC Basis) (Billions of dollars.)

NIPA Tables 6.16B, 6.16C Domestic industries Financial

Nonfinancial Manufacturing

Classification basis, year and quarter

1972 SIC BASIS 1948 ............................. 1949 .............................

Total Total

Federal Reserve Banks

Durable goods Other

Total Total

Primary metal industries

Fabricated metal products

Industrial machinery and equipment

Electronic and other electric equipment

Motor vehicles and equipment

Other

33.7 31.5

32.5 30.3

0.2 0.2

2.5 3.1

29.7 27.0

17.5 16.2

1.6 1.5

0.8 0.7

1.3 1.3

0.6 0.8

1.4 2.1

1.8 1.7

1950 1951 1952 1953 1954

............................. ............................. ............................. ............................. .............................

38.3 43.6 41.2 40.7 39.0

37.0 41.8 39.3 38.9 37.1

0.2 0.3 0.3 0.4 0.3

3.1 3.4 4.1 4.4 4.8

33.7 38.1 34.9 34.0 32.0

21.0 24.7 21.7 22.0 19.9

2.3 3.1 1.9 2.5 1.7

1.1 1.3 1.0 1.0 0.9

1.6 2.3 2.3 1.9 1.7

1.2 1.3 1.5 1.4 1.2

3.1 2.4 2.4 2.6 2.1

2.6 2.8 2.6 2.6 2.9

1955 1956 1957 1958 1959

............................. ............................. ............................. ............................. .............................

48.1 47.8 47.5 42.7 53.5

45.8 44.9 44.4 40.2 50.8

0.3 0.5 0.6 0.6 0.7

5.0 5.2 5.4 5.9 6.9

40.5 39.3 38.5 33.7 43.2

26.1 24.8 24.1 19.5 26.5

2.9 3.0 3.1 1.9 2.3

1.1 1.1 1.1 0.9 1.1

1.7 2.1 2.0 1.5 2.2

1.1 1.2 1.5 1.3 1.7

4.1 2.2 2.6 0.9 3.0

3.5 3.1 3.1 2.9 3.5

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

51.5 51.8 57.0 62.1 68.6

48.3 48.5 53.3 58.1 64.1

0.9 0.8 0.9 1.0 1.1

7.5 7.6 7.7 7.3 7.6

39.9 40.2 44.7 49.8 55.4

23.8 23.4 26.3 29.7 32.6

2.0 1.6 1.6 2.0 2.5

0.8 1.0 1.2 1.3 1.5

1.8 1.9 2.4 2.6 3.3

1.3 1.3 1.5 1.6 1.7

3.0 2.5 4.0 4.9 4.6

2.7 2.9 3.4 4.0 4.4

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

78.9 84.6 82.0 88.8 85.5

74.2 80.1 77.2 83.2 78.9

1.3 1.7 2.0 2.5 3.1

8.0 9.1 9.2 10.3 10.5

64.9 69.3 66.0 70.4 65.3

39.8 42.6 39.2 41.9 37.3

3.1 3.6 2.7 1.9 1.4

2.1 2.4 2.5 2.3 2.0

4.0 4.6 4.2 4.2 3.8

2.7 3.0 3.0 2.9 2.3

6.2 5.2 4.0 5.5 4.8

5.2 5.2 4.9 5.6 4.9

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

74.4 88.3 101.2 115.3 109.5

67.3 80.4 91.7 100.4 92.1

3.5 3.3 3.3 4.5 5.7

11.9 14.3 15.8 16.0 14.5

52.0 62.8 72.6 79.9 71.9

27.5 35.1 41.9 47.2 41.4

0.8 0.8 1.7 2.3 5.0

1.1 1.5 2.2 2.7 1.8

3.1 3.1 4.5 4.9 3.3

1.3 2.0 2.9 3.2 0.6

1.3 5.2 6.0 5.9 0.7

2.9 4.1 5.6 6.2 4.0

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

135.0 165.6 194.7 222.4 231.8

120.4 149.0 175.6 199.6 197.2

5.6 5.9 6.1 7.6 9.4

14.6 19.1 25.8 31.9 30.9

100.2 124.1 143.7 160.0 156.8

55.2 71.3 79.3 90.5 89.6

2.8 2.1 1.0 3.6 3.5

3.3 3.9 4.5 5.0 5.3

5.1 6.9 8.6 10.7 9.5

2.6 3.8 5.9 6.7 5.6

2.3 7.4 9.4 9.0 4.7

4.7 7.3 8.5 10.5 8.5

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

211.4 219.1 191.0 226.5 264.6

175.9 189.4 158.5 191.4 228.1

11.8 14.4 15.2 14.6 16.4

22.2 14.7 10.8 20.9 18.0

141.9 160.3 132.4 155.9 193.7

78.3 91.1 67.1 76.2 91.8

2.7 3.1 -4.7 -4.9 -0.4

4.4 4.5 2.7 3.1 4.7

8.0 9.0 3.1 4.0 6.0

5.2 5.2 1.7 3.5 5.1

-4.3 0.3 0.0 5.3 9.2

2.7 -2.6 2.1 8.4 14.6

1985 ............................. 1986 ............................. 1987 .............................

257.5 253.0 301.4

219.4 213.5 253.4

16.3 15.5 15.7

29.5 41.2 44.1

173.5 156.8 193.5

84.3 57.9 86.3

-0.9 0.9 2.6

4.9 5.2 5.5

5.7 0.8 5.4

2.6 2.7 5.9

7.4 4.6 3.7

10.1 12.1 17.6

1987 SIC BASIS 1987 ............................. 1988 ............................. 1989 .............................

301.4 363.9 367.4

253.4 306.9 300.3

15.7 17.6 20.2

44.1 51.1 57.8

193.5 238.2 222.3

86.3 121.2 110.9

2.6 6.0 6.4

5.5 6.5 6.4

5.4 11.1 12.2

5.9 7.7 9.3

3.7 6.2 2.7

17.6 16.5 14.2

1990 1991 1992 1993 1994

............................. ............................. ............................. ............................. .............................

396.6 427.9 458.3 513.1 564.6

320.5 351.4 385.2 436.1 487.6

21.4 20.3 17.8 16.2 18.1

73.0 103.9 111.9 120.6 101.8

226.1 227.3 255.4 299.3 367.7

113.1 98.0 99.5 115.6 147.0

3.5 1.5 0.0 0.4 2.3

6.0 5.3 6.2 7.4 11.1

11.8 5.7 7.5 7.5 9.1

8.5 10.0 10.4 15.2 22.8

-1.9 -5.4 -1.0 6.0 7.8

15.9 17.3 17.4 19.4 21.3

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

656.0 736.1 812.3 738.5 776.8

563.2 634.2 701.4 635.5 655.3

22.5 22.1 23.8 25.2 26.3

139.7 150.5 169.2 140.7 170.1

401.0 461.6 508.4 469.6 458.9

173.7 188.8 209.0 173.5 175.2

7.1 5.6 6.3 6.5 2.4

11.8 14.5 17.0 16.4 16.2

14.8 16.9 16.7 19.5 12.4

21.5 20.1 25.3 8.9 5.3

0.0 4.2 4.8 5.9 7.3

25.8 29.2 33.0 30.1 35.3

2000 .............................

759.3

613.6

30.8

173.0

409.8

166.3

1.2

15.4

16.3

4.7

-1.5

28.8

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

752.0 732.5 743.5 725.9

643.1 626.3 647.3 625.3

25.0 25.2 25.4 25.1

147.9 136.4 136.9 141.8

470.2 464.7 485.0 458.4

178.5 170.1 176.6 168.8

6.9 6.2 6.1 6.8

14.9 16.7 18.5 15.7

14.4 19.5 20.4 23.7

12.2 8.3 6.6 8.3

6.4 3.5 4.5 9.3

28.8 27.4 31.3 32.9

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

771.3 773.2 766.8 796.1

657.3 656.5 648.3 659.1

24.9 25.5 26.2 28.6

163.0 157.8 175.3 184.5

469.5 473.2 446.8 446.0

175.0 182.5 174.2 169.1

3.8 3.1 1.5 1.2

15.9 15.7 16.2 17.1

9.8 12.8 12.3 14.7

4.3 4.9 6.9 4.9

8.9 6.1 7.3 6.7

33.9 37.8 34.3 35.3

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

766.8 773.5 756.3 740.7

635.7 634.9 611.7 572.1

30.0 30.5 31.1 31.7

179.5 164.5 171.1 176.8

426.2 440.0 409.5 363.6

172.6 186.1 164.9 141.6

2.1 2.0 0.5 0.3

18.8 16.2 15.2 11.3

12.6 16.1 18.1 18.1

2.5 8.7 3.4 4.1

1.2 0.3 -2.4 -5.2

33.3 33.7 27.3 21.0

220

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 9-5. Corporate Profits with Inventory Valuation Adjustment by Industry Group (SIC Basis)—Continued (Billions of dollars.)

NIPA Tables 6.16B, 6.16C Domestic industries—Continued Nonfinancial—Continued Manufacturing—Continued

Classification basis, year and quarter

Rest of the world Total

Transporta- Communition cations

Electric, gas, and sanitary services

Wholesale Retail trade trade

Other

Food and kindred products

Chemicals and allied products

Petroleum and coal products

10.0 8.1

1.9 1.6

1.7 1.8

2.8 1.9

3.7 2.8

3.0 3.0

1.5 1.2

0.4 0.5

1.1 1.4

2.4 1.9

3.2 2.8

3.5 3.1

1.3 1.1

Total

1972 SIC BASIS 1948 ............................. 1949 .............................

Transportation and public utilities

Nondurable goods

Other

1950 1951 1952 1953 1954

............................. ............................. ............................. ............................. .............................

9.0 11.4 10.0 10.0 9.5

1.6 1.4 1.8 1.8 1.6

2.3 2.8 2.3 2.2 2.2

2.3 2.8 2.3 2.7 2.8

2.7 4.4 3.6 3.3 2.9

4.1 4.7 5.0 5.0 4.7

1.9 1.9 1.9 1.6 1.0

0.7 1.0 1.1 1.2 1.3

1.5 1.8 2.0 2.2 2.4

2.1 2.6 2.3 1.8 1.7

3.0 2.6 2.7 2.3 2.3

3.5 3.6 3.3 3.0 3.3

1.3 1.7 1.9 1.8 2.0

1955 1956 1957 1958 1959

............................. ............................. ............................. ............................. .............................

11.8 12.0 10.8 10.2 12.9

2.2 1.8 1.8 2.1 2.5

3.0 2.8 2.8 2.5 3.5

3.0 3.3 2.6 2.1 2.6

3.6 4.1 3.6 3.4 4.3

5.7 5.9 5.9 5.9 7.1

1.5 1.4 1.1 0.9 1.1

1.7 1.8 2.0 2.3 2.8

2.5 2.7 2.7 2.7 3.1

2.4 2.2 2.2 2.2 2.9

2.9 2.6 2.6 2.6 3.3

3.5 3.9 3.8 3.5 3.4

2.4 2.8 3.1 2.5 2.7

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

12.2 12.1 12.3 13.3 14.5

2.2 2.4 2.4 2.7 2.7

3.1 3.3 3.2 3.7 4.1

2.6 2.3 2.2 2.2 2.4

4.2 4.2 4.4 4.7 5.3

7.5 7.9 8.5 9.5 10.2

0.9 1.0 1.0 1.4 1.6

3.0 3.2 3.6 3.9 4.0

3.6 3.7 3.9 4.2 4.6

2.5 2.5 2.8 2.8 3.4

2.8 3.0 3.4 3.6 4.5

3.3 3.4 3.6 4.1 4.7

3.1 3.3 3.8 4.1 4.5

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

16.5 18.6 18.0 19.4 18.1

2.9 3.3 3.3 3.2 3.1

4.6 4.9 4.3 5.3 4.6

2.9 3.4 4.0 3.8 3.4

6.1 6.9 6.4 7.1 7.0

11.0 12.0 10.9 11.0 10.7

2.1 2.3 1.3 1.0 0.7

4.3 4.8 4.8 5.1 5.4

4.6 4.9 4.8 4.9 4.6

3.8 4.0 4.1 4.6 4.9

4.9 4.9 5.7 6.4 6.4

5.4 5.9 6.1 6.6 6.1

4.7 4.5 4.8 5.6 6.6

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

17.0 18.5 19.2 22.0 26.1

3.2 3.6 3.0 2.5 2.6

3.9 4.5 5.3 6.2 5.3

3.7 3.8 3.3 5.4 10.9

6.1 6.6 7.6 7.9 7.3

8.3 8.9 9.5 9.1 7.6

-0.1 0.7 1.5 1.3 2.0

4.8 4.1 3.9 4.3 4.1

3.6 4.1 4.0 3.4 1.5

4.4 5.2 6.9 8.2 11.5

6.0 7.2 7.4 6.6 2.3

5.8 6.4 7.0 8.7 9.1

7.1 7.9 9.5 14.9 17.5

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

34.5 39.9 41.4 45.1 52.5

8.6 7.1 6.9 6.2 5.8

6.4 8.2 7.8 8.3 7.2

10.1 13.5 13.1 15.8 24.8

9.5 11.1 13.6 14.8 14.7

11.0 15.3 18.6 21.8 17.0

1.0 3.0 3.7 4.1 3.5

4.3 5.7 6.6 8.6 7.5

5.7 6.5 8.3 9.1 6.0

13.8 12.9 15.6 15.6 18.8

8.2 10.5 12.4 12.3 9.8

12.0 14.0 17.8 19.8 21.6

14.6 16.5 19.1 22.9 34.6

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

59.5 71.6 62.1 56.7 52.6

6.1 9.2 7.3 6.3 6.8

5.7 8.0 5.1 7.4 8.2

34.7 40.0 34.7 23.9 17.6

13.1 14.5 15.0 19.1 20.1

18.4 20.3 23.1 29.5 40.1

2.7 1.7 -0.1 3.2 6.1

7.7 8.6 8.6 9.9 12.8

8.0 10.0 14.6 16.4 21.3

17.2 22.4 19.6 21.0 29.5

6.2 9.9 13.4 18.7 21.1

21.8 16.7 9.2 10.4 11.1

35.5 29.7 32.6 35.1 36.6

1985 ............................. 1986 ............................. 1987 .............................

54.6 31.7 45.6

8.8 7.5 11.4

6.6 7.5 14.4

18.7 -4.7 -1.5

20.5 21.3 21.3

33.8 35.8 41.9

1.8 3.4 3.4

14.2 17.6 19.4

17.8 14.7 19.1

23.9 24.1 18.6

22.2 23.5 23.4

9.2 15.5 23.4

38.1 39.5 48.0

1987 SIC BASIS 1987 ............................. 1988 ............................. 1989 .............................

45.6 67.1 59.7

11.4 12.0 11.1

14.4 18.6 18.2

-1.5 12.7 6.5

21.3 23.7 23.9

41.9 48.4 43.3

3.4 7.9 1.3

19.4 19.5 18.2

19.1 21.1 23.9

18.6 20.1 21.8

23.4 20.3 20.8

23.4 28.3 25.5

48.0 57.0 67.1

1990 1991 1992 1993 1994

............................. ............................. ............................. ............................. .............................

69.2 63.6 59.0 59.7 72.6

14.3 18.1 18.2 16.4 19.9

16.8 16.2 16.0 15.9 23.2

16.4 7.3 -0.9 2.7 1.2

21.7 22.0 25.6 24.7 28.3

44.2 53.3 58.4 69.5 83.2

-0.4 2.3 2.3 7.0 10.5

20.1 23.5 27.7 32.9 36.7

24.5 27.5 28.4 29.6 36.1

19.2 21.7 25.1 26.3 30.9

20.7 26.7 32.6 39.1 46.2

29.0 27.5 39.7 48.9 60.4

76.1 76.5 73.1 76.9 77.1

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

92.8 98.2 105.9 86.2 96.4

27.1 22.1 24.6 21.9 28.1

27.9 26.4 32.3 26.5 25.2

7.1 15.0 17.3 6.7 4.3

30.6 34.7 31.7 31.1 38.9

85.8 91.3 84.2 78.9 56.8

11.5 15.7 19.0 21.6 15.8

33.6 35.0 25.5 21.4 4.6

40.8 40.7 39.7 35.8 36.3

27.3 39.8 47.6 52.3 52.6

43.1 51.9 64.2 73.4 74.6

71.2 89.7 103.4 91.5 99.7

92.8 101.9 110.9 103.0 121.5

2000 .............................

101.5

25.7

16.0

29.1

30.7

43.8

15.2

1.3

27.3

56.9

70.1

72.8

145.7

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

94.9 88.5 89.2 72.0

23.6 24.6 25.8 13.6

30.5 22.9 24.9 27.6

9.4 8.9 7.3 1.3

31.3 32.1 31.3 29.6

76.8 81.0 86.7 71.0

20.6 21.5 24.2 20.3

22.1 24.0 25.1 14.5

34.1 35.5 37.4 36.3

50.2 52.6 57.5 48.8

71.3 72.5 73.8 76.0

93.4 88.6 90.4 93.8

108.8 106.2 96.2 100.5

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

98.5 102.1 95.8 89.1

28.5 28.6 27.0 28.2

31.8 31.8 22.1 14.9

0.6 4.0 8.2 4.4

37.6 37.7 38.5 41.6

62.6 52.1 52.5 59.9

16.8 16.0 13.5 17.0

9.2 3.4 1.3 4.5

36.6 32.8 37.6 38.4

54.8 53.1 49.3 53.3

79.4 79.0 69.6 70.5

97.7 106.6 101.2 93.2

113.9 116.6 118.5 137.0

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

102.1 109.2 102.8 91.9

28.3 25.4 28.2 21.0

20.0 17.4 13.3 13.2

15.3 33.8 33.9 33.4

38.6 32.7 27.4 24.3

47.5 42.4 43.2 42.2

14.7 19.4 15.7 11.2

-0.3 -3.4 0.4 8.4

33.0 26.4 27.1 22.6

52.4 63.2 62.9 48.9

75.5 70.8 70.3 63.9

78.3 77.4 68.3 67.0

131.1 138.5 144.6 168.6

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS

221

Table 9-6. Corporate Profits with Inventory Valuation Adjustment by Industry Group (NAICS Basis) (Billions of dollars.)

NIPA Table 6.16D Domestic industries Financial

Nonfinancial Manufacturing

Year and quarter

Total

Durable goods Total

1998 ................................. 1999 .................................

Federal Reserve Banks

Other financial

Total

Utilities Total

Fabricated Machinery metal products

Computer and electronic products

Electrical Motor equipment, vehicles, appliances, bodies and and trailers, components and parts

Other durable goods

738.5 776.8

635.5 655.3

25.2 26.3

140.2 168.0

470.1 461.1

32.7 33.1

157.0 150.6

16.7 16.5

15.6 12.4

3.9 -6.5

6.1 6.3

6.4 7.3

34.6 36.4

................................. ................................. ................................. ................................. .................................

759.3 719.2 766.2 923.9 1 019.7

613.6 549.5 610.4 747.9 834.8

30.8 28.3 23.7 20.2 20.3

169.4 199.3 252.7 292.8 280.3

413.4 322.0 334.0 434.9 534.2

24.4 24.7 10.6 11.4 12.1

144.3 52.6 48.2 80.7 118.9

15.5 9.9 8.9 8.5 10.3

8.2 2.7 1.7 1.4 1.0

4.0 -48.5 -35.3 -16.1 -3.2

5.6 1.9 -0.1 1.9 0.3

-1.0 -9.2 -5.0 -11.6 -3.4

27.7 17.8 20.0 11.9 29.9

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

707.0 740.5 774.5 842.7

552.0 593.3 620.0 676.2

24.2 24.5 23.6 22.4

253.6 253.3 251.0 252.9

274.2 315.6 345.4 400.9

7.1 10.1 12.6 12.8

27.8 40.0 55.0 70.0

8.4 8.9 8.6 9.8

2.0 1.3 1.9 1.5

-49.2 -39.7 -28.4 -23.9

0.3 -1.3 0.0 0.5

-10.5 -1.1 -2.9 -5.5

18.4 17.9 20.7 22.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

858.0 891.0 944.0 1 002.6

703.5 721.2 769.2 797.6

22.0 20.9 19.5 18.5

282.8 288.2 300.9 299.4

398.7 412.2 448.9 479.7

12.3 10.4 10.7 12.3

70.9 68.0 79.2 104.8

6.0 9.2 8.4 10.5

-1.1 1.2 3.0 2.4

-20.9 -18.0 -16.1 -9.7

3.3 2.6 0.9 0.8

-2.3 -14.1 -17.9 -12.4

7.6 8.7 12.9 18.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 001.2 1 016.5 981.3 1 079.7

803.0 839.7 795.5 901.1

19.4 19.3 20.2 22.2

304.7 296.8 222.7 297.1

479.0 523.6 552.7 581.7

11.0 11.7 11.4 14.1

97.3 107.3 116.2 154.7

9.3 9.1 9.8 13.1

1.8 1.4 3.4 -2.6

-8.0 -5.8 1.3 -0.2

-4.7 2.0 -3.0 6.8

-6.6 -7.7 -0.7 1.3

19.4 28.1 31.4 40.5

2000 2001 2002 2003 2004

Domestic industries—Continued Nonfinancial—Continued Manufacturing—Continued Year and quarter

Rest of the world, net

Nondurable goods

Total

Food and beverage and tobacco products

Petroleum and coal products

Chemical products

Other nondurable goods

Wholesale trade

Retail trade

Transportation and warehousing

Information

Other nonfinancial

1998 ................................. 1999 .................................

73.6 78.3

21.8 30.7

4.9 1.8

25.1 23.0

21.8 22.7

53.2 55.5

66.4 65.2

21.0 16.1

20.1 10.5

119.8 130.1

103.0 121.5

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

84.3 78.0 58.1 84.8 84.0

25.4 28.0 24.9 23.5 24.0

26.9 29.6 1.6 23.6 31.0

14.2 12.6 18.4 20.8 13.5

17.8 7.8 13.2 16.9 15.6

59.7 52.1 49.3 56.3 63.5

59.6 71.0 79.4 87.7 90.0

14.9 1.3 -0.9 8.1 8.4

-17.6 -25.6 -8.5 -1.9 17.0

128.2 145.9 155.8 192.4 224.3

145.7 169.7 155.8 176.0 184.9

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

58.4 54.0 55.2 64.8

27.9 25.7 25.5 20.6

4.8 0.8 -0.2 0.9

16.4 16.4 18.2 22.8

9.4 11.0 11.7 20.5

48.5 52.6 45.3 50.7

75.7 79.7 80.2 82.1

-1.3 -3.8 -2.0 3.4

-17.5 -11.4 -7.8 2.7

133.8 148.4 162.1 179.2

155.0 147.1 154.6 166.5

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

78.3 78.3 88.0 94.6

20.2 21.6 22.9 29.3

24.6 21.6 22.1 25.9

20.3 18.8 23.8 20.3

13.2 16.3 19.1 19.1

48.6 50.3 62.1 64.1

81.4 90.4 90.3 88.8

4.6 9.8 8.9 9.3

-7.0 -4.3 4.9 -1.1

187.9 187.7 192.6 201.5

154.5 169.8 174.7 205.0

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

86.2 80.3 73.9 95.9

28.1 23.7 23.4 20.5

27.7 27.6 19.5 49.2

15.1 14.4 16.3 8.4

15.2 14.6 14.7 17.8

56.8 61.3 69.1 66.9

97.5 92.9 81.9 87.7

11.0 15.0 6.1 1.7

-6.5 20.3 33.0 21.0

211.8 215.1 235.0 235.6

198.2 176.9 185.9 178.6

222

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS General note on data on compensation per hour This chapter includes two data series with similar names but markedly different behavior. Both are compiled and published by the Bureau of Labor Statistics (BLS), but the definitions, sources, and methods of compilation are different. Users should be aware of these differences, and of the consequent differences in the appropriate uses and interpretations for each of the two series. The Employment Cost Index (Tables 9-1 through 9-3) measures changes in hourly compensation for all civilian workers (except federal government workers), state and local workers, total nonfarm private industry, and a number of industry and occupational subgroups. It is calculated and published separately for total compensation and for the two main components of hourly compensation, wages and salaries and the employer cost of employee benefits. The Employment Cost Index is constructed by analogy with the Consumer Price Index, holding the composition of employment constant in order to isolate hourly compensation trends that take place for individual occupations. It is based on a sample survey. It may be revised from time to time, due to updated classification, weighting, and seasonal adjustments. However, it is not subject to major benchmark revision of the underlying wage, salary, and benefit observations. The Employer Cost Index is frequently, and appropriately, used as the best available measure of the general trend of wages and of the extent of inflationary pressure exerted on prices by labor costs. By design, it excludes any representation of employee stock options. As it is based on a sample survey, the Employment Cost Index is measured “from the bottom up,” aggregating from individual employers’ reports to higher levels. The compensation per hour component of the report on “Productivity and Costs” is calculated and published for total compensation in total business, nonfarm business, nonfinancial corporations, and manufacturing. This is a “top-down” measure, starting with aggregate estimates of compensation and hours, then dividing the former by the latter. Compensation per hour is affected by changes in the composition of employment. If the composition of employment shifts toward higher-paid employees and/or industries, compensation per hour will rise even if there is no increase in hourly compensation for any individual worker. In addition, compensation per hour includes the value of exercised stock options as expensed by companies. Also included are other transitory payments, many of which may be of little relevance to the typical worker or to ongoing production costs. These values are not reported immediately. Instead, they are incorporated when later, more comprehensive reports are received, which can lead to dramatic revisions. For example, the fourth-quarter 2004 increase in compensation per hour in nonfarm busi-

ness was initially reported at an annual rate of 3.1 percent. Four months later, the reported rate for the same time period was 10.2 percent. The rate of increase from a year earlier was revised from 3.6 to 5.9 percent. According to Federal Reserve Chairman Alan Greenspan, in testimony before the Joint Economic Committee on June 9, 2005, this reflects “a large but apparently transitory surge in bonuses and the proceeds of stock option exercises,” not a potentially inflationary acceleration in the rate of labor compensation increase. These characteristics suggest that compensation per hour should not be considered a reliable or appropriate indicator of wage or compensation trends for typical workers. It is useful in conjunction with the productivity series, because aggregate productivity is subject to the same composition shifts, as higher-productivity industries also tend to have higher-paid employees. Hence, the measure of unit labor costs (derived by dividing compensation per hour by output per hour in this system) is not distorted when the composition of output shifts toward higher-productivity industries. The shift affects the numerator and denominator of the ratio similarly. However, both compensation and unit labor costs can still be distorted by transitory payments, such as those discussed above. TABLES 9-1 THROUGH 9-3 EMPLOYMENT COST INDEXES SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

The Employment Cost Index (ECI) is a quarterly measure of the change in the cost of labor independent of the influence of employment shifts among occupations and industries. It uses a fixed market basket of labor—similar in concept to the Consumer Price Index’s fixed market basket of goods and services—to measure changes over time in employer costs of employing labor. Data are quarterly in all cases and are reported for the final month of each quarter. In most cases, index levels have a base period of June 1989 (not seasonally adjusted) = 100. Beginning with the release of the March 2006 estimates, the ECI will publish industry categories based on the North American Industry Classification System (NAICS). It will also classify jobs into occupational categories according to the 2000 Standard Occupational Classification Manual. These systems will replace the 1987 Standard Industrial Classification (SIC) Manual and the Occupational Classification System currently used. In addition, several computational changes will be introduced, including new employment weights and seasonal adjustment factors and the rebasing of all series to December 2005 = 100. All changes will be incorporated into revised indexes retroactive to 2001. Broad categories, such as civilian workers and private industry workers, will be comparable in the old and new systems. Some detailed occupational and industry classifi-

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS

cations may not be comparable, even with the same title. Some new series will also be introduced. The rebasing will mean that the levels of the ECI shown in the new reports will not be comparable with any of the levels published in this volume. However, rates of change calculated using the indexes published in this volume will be valid for the data before 2001. The new revised data will be available on the BLS Web site at at the end of April 2006. Definitions Total compensation comprises wages, salaries, and the employer’s costs for employee benefits. Excluded from wages and salaries and employee benefits are the value of stock option exercises and items such as payment-inkind, free room and board, and tips. Wages and salaries consists of straight-time earnings per hour before payroll deductions, including production bonuses, incentive earnings, commissions, and cost-ofliving adjustments. These wage rates exclude premium pay for overtime and for work on weekends and holidays, shift differentials, and nonproduction bonuses (such as lump-sum payments provided in lieu of wage increases). Benefits includes the cost to employers for paid leave— vacations, holidays, sick leave, and other leave; for supplemental pay—premium pay for work in addition to the regular work schedule (such as overtime, weekends, and holidays), shift differentials, and nonproduction bonuses (such as referral bonuses and lump-sum payments provided in lieu of wage increases); for insurance benefits—life, health, short-term disability, and long-term disability; for retirement and savings benefits—defined benefit and defined contribution plans; for legally required benefits—Social Security, Medicare, federal and state unemployment insurance, and workers’ compensation; and for other benefits— severance pay and supplemental unemployment plans. Private industry workers are workers in private nonfarm industry. Excluded are proprietors, the self-employed, and private household workers. Civilian workers include private nonfarm industry workers and workers in state and local government. Federal workers are not included. Notes on the data Employee benefit costs are calculated as cents per hour worked for benefits ranging from employer payments for Social Security to paid time off for holidays. The data are collected from probability samples of around 42,000 occupational observations in about 9,600 sample establishments in private industry, and around 3,500 occupations within about 800 establishments in state and local governments. Samples are rotated over approximately five years.

223

The sample establishments were classified in industry categories based on the 1987 Standard Industrial Classification (SIC). Within an establishment, specific job categories were selected and classified into approximately 500 occupational classifications according to the 1990 Census of Population. Data are collected each quarter for the pay period that includes the 12th day of March, June, September, and December. Aggregate indexes are calculated using fixed employment weights. Beginning with March 1995, ECI weights are based on 1990 fixed employment counts, primarily from the BLS Occupational Employment Survey. ECI measures were based on 1980 census employment counts from June 1986 through December 1994. Prior to June 1986, they were based on 1970 census employment counts. Use of fixed weights ensures that changes in the indexes only reflect changes in hourly compensation, not employment shifts among industries or occupations with different levels of wages and compensation. This feature distinguishes the ECI from other compensation series such as average hourly earnings (see Table 10-11 and its notes and definitions) and the compensation per hour component of the productivity series (see Table 9-4 and its notes and definitions, and the general note above), each of which is affected by such employment shifts. Data availability Data for wages and salaries for the private nonfarm economy are available beginning with data for 1975; data for compensation begin at 1980. The series for state and local government and for the civilian nonfarm economy begin at 1981. All are available on the BLS Web site at . Wage and salary change and compensation cost change data also are available by major occupational and industry groups, as well as by region and bargaining status. Wage and salary change information is available from 1975 to the present for most of these series. Compensation cost change data are available from 1980 to the present for most series. For 10 occupational and industry series, benefit cost change data are available from the early 1980s to the present. For state and local governments and the civilian economy (state and local governments plus private industry), wage and salary change and compensation cost change data are available for major occupational and industry series. BLS provides data for all these series from June 1981 to the present. Updates are available about four weeks after the end of the reference quarter. Reference quarters end in March, June, September, and December. References Explanatory notes including references are included in each quarter’s ECI news release, available on the BLS Web site. References include: Chapter 8, “National

224

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Compensation Measures,” BLS Handbook of Methods Bulletin 2490 (April 1997); Employment Cost Indexes, 1975–1999, BLS Bulletin 2532 (includes details on the sample design and seasonal adjustment methodology); and the following Monthly Labor Review articles: “Is the ECI Sensitive to the Method of Aggregation?” (June 1997); “Employment Cost Index Rebased to June 1989” (April 1990); “Measuring the Precision of the Employment Cost Index” (March 1989); “Employment Cost Index to Replace Hourly Earnings Index” (July 1988); and “Estimation Procedures for the Employment Cost Index,” May 1982. TABLES 9-4 AND 19-10 PRODUCTIVITY AND RELATED DATA SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

Productivity measures relate real physical output to real input. They encompass a family of measures that includes single-factor input measures, such as output per unit of labor input or output per unit of capital input, as well as measures of multifactor productivity (output per unit of combined labor and capital inputs). The indexes published in this book are indexes of labor productivity expressed in terms of output per hour. (A larger group of BLS productivity measures is published in Bernan’s Handbook of U.S. Labor Statistics.) Data are provided here for four sectors of the economy: business, nonfarm business, the nonfinancial corporate sector, and manufacturing. All data are presented as indexes, 1992 = 100. Definitions Output per hour of all persons (labor productivity) is the value of goods and services in constant prices produced per hour of labor input. By definition, nonfinancial corporations include no self-employed persons. Productivity in this sector is expressed as output per hour of all employees. Compensation per hour is the wages and salaries of employees plus employers’ contributions for social insurance and private benefit plans and wages, salaries, and supplementary payments for the self-employed—the sum of these divided by hours at work. Included in compensation is the value of exercised stock options that companies report as a charge against earnings. These are not reported quarterly; consequently, recent values are estimated based on extrapolation. They are revised to actual values when the data become available. Real compensation per hour is compensation per hour deflated by the CPI-U-RS for the period 1978 through 2004. (For explanation of the CPI-U-RS, see notes and definitions for Tables 8-2 and 8-3.) Changes in the CPI-W are used for data before 1978.

Unit labor costs is the labor costs expended in the production of a unit of output. It is derived by dividing compensation by output. Unit nonlabor payments includes profits, depreciation, interest, rental income of persons, and indirect taxes per unit of output. It is computed by subtracting compensation of all persons from current-dollar value of output and dividing by output. Unit nonlabor costs is available for nonfinancial corporations only. It contains all the components of unit nonlabor payments except unit profits (and rental income of persons, which for nonfinancial corporations is zero by definition). Hours of all persons is the total hours at work (employment multiplied by the average workweek) of payroll workers, self-employed persons, and unpaid family workers. In the case of the data for nonfinancial corporations, there are no self-employed persons and the data represent employee hours. Notes on the data Output for the business sector is equal to constant-dollar gross domestic product minus the following: the rental value of owner-occupied dwellings; the output of nonprofit institutions; the output of paid employees of private households; and general government output. The measures are derived from national income and product account (NIPA) data supplied by the U.S. Department of Commerce, Bureau of Economic Analysis (BEA). For manufacturing, BLS produces annual estimates of sectoral output. Quarterly manufacturing output indexes derived from the Federal Reserve Board of Governors’ monthly indexes of industrial production are adjusted to these annual measures by the BLS, and are used to project the quarterly values in the current period. Nonfinancial corporate output excludes unincorporated businesses and financial corporations from business sector output. It accounted for approximately 54 percent of the value of GDP in 1996. It is possible to calculate unit profits and unit nonlabor costs separately for this sector. Compensation and hours data are developed from BLS and BEA data. The primary source for hours and employment is the BLS Current Employment Statistics (CES) program (see notes and definitions for Tables 10-7 through 10-12). The CES provides data on hours paid for production or nonsupervisory workers. The BLS Office of Productivity and Technology estimates the paid hours of nonproduction and supervisory workers, using data from the Current Population Survey (CPS). Weekly paid hours are adjusted to hours at work using the annual BLS Hours at Work survey, conducted for this purpose. For paid employees, hours at work differ from hours paid, in that they exclude paid vacation and holi-

CHAPTER 9: EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS

days, paid sick leave, and other paid personal or administrative leave. Although the labor productivity measures relate output to labor input, they do not measure the contribution of labor or any other specific factor of production. They instead reflect the joint effect of many influences, including changes in technology; capital investment; level of output; utilization of capacity, energy, and materials; the organization of production; managerial skill; and the characteristics and efforts of the work force. Revisions Data for recent years are revised frequently to take account of revisions in the output and labor input measures that underlie the estimates. Customarily, all revisions to source data are reflected in the release following the source data revision. Data in this volume reflect the midyear 2005 revisions of the NIPAs and all revisions in labor input and compensation up through that time. Data availability Series are available quarterly and annually. Quarterly measures are based entirely on seasonally adjusted data. For some detailed manufacturing series (not shown here), only annual averages are available. Productivity indexes are published early in the second and third months of each quarter, reflecting new data for preceding quarters. Complete historical data are available on the BLS Web site at . BLS also publishes productivity estimates for a number of individual industries. A release on “Productivity and Costs by Industry” is available on the BLS Web site at . References Chapter 10, “Productivity Measures: Business Sector and Major Subsectors” BLS Handbook of Methods Bulletin

225

2490 (April 1997), and the following Monthly Labor Review articles: “Alternative measures of supervisory employee hours and productivity growth” (April 2004); “Possible measurement bias in aggregate productivity growth” (February 1999); “Improvements to the Quarterly Productivity Measures” (October 1995); “Hours of Work: A New Base for BLS Productivity Statistics” (February 1990); and “New Sector Definitions for Productivity Series” (October 1976). TABLE 9-5 AND 9-6 CORPORATE PROFITS WITH INVENTORY VALUATION ADJUSTMENT BY INDUSTRY GROUP SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

These profits measures are derived from the national income and product accounts (NIPAs). See the notes and definitions to Chapter 1 for definitions. Note that this industry breakdown of profits incorporates the inventory valuation adjustment (IVA), which eliminates any capital gain element in profits arising from changes in the prices at which stocks are valued, but does not incorporate the capital consumption adjustment (CCAdj), which adjusts historical costs to replacement costs and uses actual rather than tax-based service lives. (The reason is that the CCAdj is calculated at an aggregate level, whereas the IVA is calculated at an industry level.) Beginning in 1998, data are compiled on the NAICS basis, as shown in Table 9-5. Data for earlier years based on the December 2003 revision—including an overlap for the years 1998 through 2000—are still based on the older Standard Industrial Classification system (SIC) and are shown back to 1948 on that basis; these have not been revised and are as shown in previous years’ Business Statistics. See Chapter 14 for an outline and discussion of NAICS and its relation to SIC.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS Section 10a: Labor Force, Employment, and Unemployment Figure 10-1. Labor Force Participation Rate and Employment/Population Ratio, 1948–2004 Percent of civilian noninstitutional population

70 Labor force participation rate

65

Employment/population ratio

60

55

1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• The decline in the employment/population ratio between 2000 and 2004 was as severe as that of any postwar recession, equaling in its depth those of 1956–1958 and 1979–1982. It also lasted longer. In 2004—four years after the 2000 peak—the ratio remained at its low point, compared with a three-year decline during the longest previous periods of employment stagnation. (Table 10-3) • Declines in the employment/population ratio are usually associated with slowdowns or declines in the labor force participation rate. Aware of reduced job opportunities, people without jobs do not bother to look for work. Therefore, they are not counted as unemployed or as in the labor force. The drop in the participation rate from 2000 to 2004 was the most sizeable since the early 1960s. (Table 10-1)

Figure 10-2. Unemployment Rate, 1948–2004 Percent of civilian labor force

10

8

6

4

2

0 1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• In 2000, the unemployment rate reached its lowest point since 1969. However, joblessness increased from 4.0 percent in 2000 to 6.0 percent in 2003. Although the unemployment rate declined again in 2004, the preceding graph implies that this is due to a further drop in labor force participation rather than a strengthening in employment. (Table 10-4)

227

228

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-1. Civilian Population and Labor Force 1 (Thousands of persons, 16 years of age and over; percent.) Not seasonally adjusted Year and month

Civilian noninstitutional population

Seasonally adjusted

Civilian labor force Total

Employed

Participation rate, percent 2

Civilian labor force, thousands

Unemployed

Total

Persons 20 years and over Both sexes, 16 to 19 Men Women years

Total

Persons 20 years and over Both sexes, 16 to 19 Men Women years

1948 ............................. 1949 .............................

103 068 103 994

60 621 61 286

58 343 57 651

2 276 3 637

60 621 61 286

40 687 41 022

15 500 15 978

4 435 4 288

58.8 58.9

88.6 88.5

31.8 32.3

52.5 52.2

1950 1951 1952 1953 1954

............................. ............................. ............................. ............................. .............................

104 995 104 621 105 231 107 056 108 321

62 208 62 017 62 138 63 015 63 643

58 918 59 961 60 250 61 179 60 109

3 288 2 055 1 883 1 834 3 532

62 208 62 017 62 138 63 015 63 643

41 316 40 655 40 558 41 315 41 669

16 678 17 259 17 517 17 674 17 997

4 216 4 103 4 064 4 027 3 976

59.2 59.2 59.0 58.9 58.8

88.4 88.2 88.3 88.0 87.8

33.3 34.0 34.1 33.9 34.2

51.8 52.2 51.3 50.2 48.3

1955 1956 1957 1958 1959

............................. ............................. ............................. ............................. .............................

109 683 110 954 112 265 113 727 115 329

65 023 66 552 66 929 67 639 68 369

62 170 63 799 64 071 63 036 64 630

2 852 2 750 2 859 4 602 3 740

65 023 66 552 66 929 67 639 68 369

42 106 42 658 42 780 43 092 43 289

18 825 19 599 19 873 20 285 20 587

4 092 4 296 4 275 4 260 4 492

59.3 60.0 59.6 59.5 59.3

87.6 87.6 86.9 86.6 86.3

35.4 36.4 36.5 36.9 37.1

48.9 50.9 49.6 47.4 46.7

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

117 245 118 771 120 153 122 416 124 485

69 628 70 459 70 614 71 833 73 091

65 778 65 746 66 702 67 762 69 305

3 852 4 714 3 911 4 070 3 786

69 628 70 459 70 614 71 833 73 091

43 603 43 860 43 831 44 222 44 604

21 185 21 664 21 868 22 473 23 098

4 841 4 936 4 916 5 139 5 388

59.4 59.3 58.8 58.7 58.7

86.0 85.7 84.8 84.4 84.2

37.6 38.0 37.8 38.3 38.9

47.5 46.9 46.1 45.2 44.5

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

126 513 128 058 129 874 132 028 134 335

74 455 75 770 77 347 78 737 80 734

71 088 72 895 74 372 75 920 77 902

3 366 2 875 2 975 2 817 2 832

74 455 75 770 77 347 78 737 80 734

44 857 44 788 45 354 45 852 46 351

23 686 24 431 25 475 26 266 27 413

5 910 6 558 6 521 6 619 6 970

58.9 59.2 59.6 59.6 60.1

83.9 83.6 83.4 83.1 82.8

39.4 40.1 41.1 41.6 42.7

45.7 48.2 48.4 48.3 49.4

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

137 085 140 216 144 126 147 096 150 120

82 771 84 382 87 034 89 429 91 949

78 678 79 367 82 153 85 064 86 794

4 093 5 016 4 882 4 365 5 156

82 771 84 382 87 034 89 429 91 949

47 220 48 009 49 079 49 932 50 879

28 301 28 904 29 901 30 991 32 201

7 249 7 470 8 054 8 507 8 871

60.4 60.2 60.4 60.8 61.3

82.6 82.1 81.6 81.3 81.0

43.3 43.3 43.7 44.4 45.3

49.9 49.7 51.9 53.7 54.8

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

153 153 156 150 159 033 161 910 164 863

93 775 96 158 99 009 102 251 104 962

85 846 88 752 92 017 96 048 98 824

7 929 7 406 6 991 6 202 6 137

93 775 96 158 99 009 102 251 104 962

51 494 52 288 53 348 54 471 55 615

33 410 34 814 36 310 38 128 39 708

8 870 9 056 9 351 9 652 9 638

61.2 61.6 62.3 63.2 63.7

80.3 79.8 79.7 79.8 79.8

46.0 47.0 48.1 49.6 50.6

54.0 54.5 56.0 57.8 57.9

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

167 745 170 130 172 271 174 215 176 383

106 940 108 670 110 204 111 550 113 544

99 303 100 397 99 526 100 834 105 005

7 637 8 273 10 678 10 717 8 539

106 940 108 670 110 204 111 550 113 544

56 455 57 197 57 980 58 744 59 701

41 106 42 485 43 699 44 636 45 900

9 378 8 988 8 526 8 171 7 943

63.8 63.9 64.0 64.0 64.4

79.4 79.0 78.7 78.5 78.3

51.3 52.1 52.7 53.1 53.7

56.7 55.4 54.1 53.5 53.9

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

178 206 180 587 182 753 184 613 186 393

115 461 117 834 119 865 121 669 123 869

107 150 109 597 112 440 114 968 117 342

8 312 8 237 7 425 6 701 6 528

115 461 117 834 119 865 121 669 123 869

60 277 61 320 62 095 62 768 63 704

47 283 48 589 49 783 50 870 52 212

7 901 7 926 7 988 8 031 7 954

64.8 65.3 65.6 65.9 66.5

78.1 78.1 78.0 77.9 78.1

54.7 55.5 56.2 56.8 57.7

54.5 54.7 54.7 55.3 55.9

1990 1991 1992 1993 1994

............................. ............................. ............................. ............................. .............................

189 164 190 925 192 805 194 838 196 814

125 840 126 346 128 105 129 200 131 056

118 793 117 718 118 492 120 259 123 060

7 047 8 628 9 613 8 940 7 996

125 840 126 346 128 105 129 200 131 056

64 916 65 374 66 213 66 642 66 921

53 131 53 708 54 796 55 388 56 655

7 792 7 265 7 096 7 170 7 481

66.5 66.2 66.4 66.3 66.6

78.2 77.7 77.7 77.3 76.8

58.0 57.9 58.5 58.5 59.3

53.7 51.6 51.3 51.5 52.7

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

198 584 200 591 203 133 205 220 207 753

132 304 133 943 136 297 137 673 139 368

124 900 126 708 129 558 131 463 133 488

7 404 7 236 6 739 6 210 5 880

132 304 133 943 136 297 137 673 139 368

67 324 68 044 69 166 69 715 70 194

57 215 58 094 59 198 59 702 60 840

7 765 7 806 7 932 8 256 8 333

66.6 66.8 67.1 67.1 67.1

76.7 76.8 77.0 76.8 76.7

59.4 59.9 60.5 60.4 60.7

53.5 52.3 51.6 52.8 52.0

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

212 577 215 092 217 570 221 168 223 357

142 583 143 734 144 863 146 510 147 401

136 891 136 933 136 485 137 736 139 252

5 692 6 801 8 378 8 774 8 149

142 583 143 734 144 863 146 510 147 401

72 010 72 816 73 630 74 623 75 364

62 301 63 016 63 648 64 716 64 923

8 271 7 902 7 585 7 170 7 114

67.1 66.8 66.6 66.2 66.0

76.7 76.5 76.3 75.9 75.8

60.6 60.6 60.5 60.6 60.3

52.0 49.6 47.4 44.5 43.9

2004 January .................... February .................. March ....................... April .......................... May .......................... June .........................

222 161 222 357 222 550 222 757 222 967 223 196

146 068 146 154 146 525 146 260 146 659 148 478

136 924 137 384 137 691 138 423 138 867 139 861

9 144 8 770 8 834 7 837 7 792 8 616

146 785 146 529 146 737 146 788 147 018 147 386

75 139 74 854 75 035 74 908 75 095 75 361

64 475 64 636 64 723 64 776 64 803 64 989

7 171 7 039 6 979 7 104 7 120 7 036

66.1 65.9 65.9 65.9 65.9 66.0

76.0 75.6 75.7 75.5 75.6 75.8

60.2 60.3 60.3 60.3 60.3 60.4

44.4 43.5 43.1 43.9 43.9 43.4

July .......................... August ...................... September ............... October .................... November ................ December ................

223 422 223 677 223 941 224 192 224 422 224 640

149 217 148 166 147 186 147 978 148 246 147 877

140 700 140 226 139 641 140 447 140 581 140 278

8 518 7 940 7 545 7 531 7 665 7 599

147 823 147 676 147 531 147 893 148 313 148 203

75 567 75 615 75 462 75 632 75 866 75 754

65 085 64 909 65 008 65 126 65 244 65 260

7 172 7 152 7 062 7 135 7 202 7 189

66.2 66.0 65.9 66.0 66.1 66.0

75.9 75.9 75.6 75.7 75.9 75.7

60.4 60.2 60.2 60.3 60.3 60.3

44.2 44.1 43.5 43.9 44.2 44.1

1Changes in 2Labor force

survey design, population estimates, and methodology in 1994 and several other years affect year-to-year comparisons. See notes and definitions for more information. as a percent of the demographic group’s civilian noninstitutional population.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

229

Table 10-2. Civilian Employment 1 (Thousands of persons, 16 years and over; seasonally adjusted, except as noted.) By age and sex

By class of worker

Persons 20 years and over

Nonagricultural industries Wage and salary

Year and month

Total Men

Women

Both sexes, 16 to 19 years

Agricultural

Private industries Total Total

Government

Private households 2

Other private industries

Selfemployed

Unpaid family workers 2

1948 ................................. 1949 .................................

58 343 57 651

39 382 38 803

14 936 15 137

4 026 3 712

7 629 7 658

50 714 49 993

44 222 43 445

5 261 5 411

... ...

... ...

6 110 6 167

384 379

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

58 918 59 961 60 250 61 179 60 109

39 394 39 626 39 578 40 296 39 634

15 824 16 570 16 958 17 164 17 000

3 703 3 767 3 719 3 720 3 475

7 160 6 726 6 500 6 260 6 205

51 758 53 235 53 749 54 919 53 904

45 355 47 048 47 719 48 771 47 633

5 789 6 057 6 461 6 539 6 617

... ... ... ... ...

... ... ... ... ...

6 019 5 804 5 614 5 740 5 839

383 383 417 409 431

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

62 170 63 799 64 071 63 036 64 630

40 526 41 216 41 239 40 411 41 267

18 002 18 767 19 052 19 043 19 524

3 642 3 818 3 778 3 582 3 838

6 450 6 283 5 947 5 586 5 565

55 722 57 514 58 123 57 450 59 065

49 361 51 058 51 510 50 762 52 264

6 821 6 914 7 177 7 471 7 686

... ... ... ... ...

... ... ... ... ...

5 851 5 896 6 011 6 102 6 222

511 559 602 587 579

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

65 778 65 746 66 702 67 762 69 305

41 543 41 342 41 815 42 251 42 886

20 105 20 296 20 693 21 257 21 903

4 129 4 108 4 195 4 255 4 516

5 458 5 200 4 944 4 687 4 523

60 318 60 546 61 759 63 076 64 782

53 418 53 601 54 963 56 387 58 026

7 935 8 175 8 691 9 082 9 350

... ... ... ... ...

... ... ... ... ...

6 303 6 308 6 193 6 114 6 179

598 639 603 573 576

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

71 088 72 895 74 372 75 920 77 902

43 422 43 668 44 294 44 859 45 388

22 630 23 510 24 397 25 281 26 397

5 036 5 721 5 682 5 781 6 117

4 361 3 979 3 844 3 817 3 606

66 726 68 915 70 527 72 103 74 296

60 031 62 362 64 848 66 519 68 528

9 608 10 323 11 146 11 590 12 025

... ... ... ... ...

... ... ... ... ...

6 097 5 991 5 174 5 102 5 252

600 564 505 485 517

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

78 678 79 367 82 153 85 064 86 794

45 581 45 912 47 130 48 310 48 922

26 952 27 246 28 276 29 484 30 424

6 144 6 208 6 746 7 271 7 448

3 463 3 394 3 484 3 470 3 515

75 215 75 972 78 669 81 594 83 279

69 491 70 120 72 785 75 580 77 094

12 431 12 799 13 393 13 655 14 124

... ... ... ... ...

... ... ... ... ...

5 221 5 327 5 365 5 474 5 697

502 522 519 540 489

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

85 846 88 752 92 017 96 048 98 824

48 018 49 190 50 555 52 143 53 308

30 726 32 226 33 775 35 836 37 434

7 104 7 336 7 688 8 070 8 083

3 408 3 331 3 283 3 387 3 347

82 438 85 421 88 734 92 661 95 477

76 249 79 175 82 121 85 753 88 222

14 675 15 132 15 361 15 525 15 635

... ... ... ... ...

... ... ... ... ...

5 705 5 783 6 114 6 429 6 791

483 464 498 479 463

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

99 303 100 397 99 526 100 834 105 005

53 101 53 582 52 891 53 487 55 769

38 492 39 590 40 086 41 004 42 793

7 710 7 225 6 549 6 342 6 444

3 364 3 368 3 401 3 383 3 321

95 938 97 030 96 125 97 450 101 685

88 525 89 543 88 462 89 500 93 565

15 912 15 689 15 516 15 537 15 770

... ... ... ... ...

... ... ... ... ...

7 000 7 097 7 262 7 575 7 785

413 390 401 376 335

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

107 150 109 597 112 440 114 968 117 342

56 562 57 569 58 726 59 781 60 837

44 154 45 556 47 074 48 383 49 745

6 434 6 472 6 640 6 805 6 759

3 179 3 163 3 208 3 169 3 199

103 971 106 434 109 232 111 800 114 142

95 871 98 299 100 771 103 021 105 259

16 031 16 342 16 800 17 114 17 469

... ... ... ... ...

... ... ... ... ...

7 811 7 881 8 201 8 519 8 605

289 255 260 260 279

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

118 793 117 718 118 492 120 259 123 060

61 678 61 178 61 496 62 355 63 294

50 535 50 634 51 328 52 099 53 606

6 581 5 906 5 669 5 805 6 161

3 223 3 269 3 247 3 115 3 409

115 570 114 449 115 245 117 144 119 651

106 598 105 373 106 437 107 966 110 517

17 769 17 934 18 136 18 579 18 293

... ... ... ... ...

... ... ... ... ...

8 719 8 851 8 575 8 959 9 003

253 226 233 218 131

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

124 900 126 708 129 558 131 463 133 488

64 085 64 897 66 284 67 135 67 761

54 396 55 311 56 613 57 278 58 555

6 419 6 500 6 661 7 051 7 172

3 440 3 443 3 399 3 378 3 281

121 460 123 264 126 159 128 085 130 207

112 448 114 171 116 983 119 019 121 323

18 362 18 217 18 131 18 383 18 903

... ... ... ... ...

... ... ... ... ...

8 902 8 971 9 056 8 962 8 790

110 122 120 103 95

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

136 891 136 933 136 485 137 736 139 252

69 634 69 776 69 734 70 415 71 572

60 067 60 417 60 420 61 402 61 773

7 189 6 740 6 332 5 919 5 907

2 464 2 299 2 311 2 275 2 232

134 427 134 635 134 174 135 461 137 020

125 114 125 407 125 156 126 015 127 463

19 248 19 335 19 636 19 634 19 983

718 694 757 764 779

105 148 105 378 104 764 105 616 106 701

9 205 9 121 8 923 9 344 9 467

108 107 95 101 90

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

138 481 138 334 138 408 138 645 138 846 139 158

71 283 71 014 71 158 71 158 71 226 71 575

61 237 61 456 61 424 61 591 61 723 61 731

5 962 5 864 5 825 5 897 5 896 5 853

2 172 2 201 2 180 2 261 2 301 2 291

136 234 136 191 136 192 136 427 136 565 136 751

126 668 126 612 126 835 127 081 127 043 127 293

19 722 19 477 19 941 19 920 19 814 20 003

811 791 767 727 683 803

106 153 106 139 106 072 106 377 106 509 106 494

9 475 9 482 9 243 9 251 9 416 9 379

96 111 116 75 87 108

July .............................. August .......................... September ................... October ........................ November .................... December ....................

139 639 139 658 139 527 139 827 140 293 140 156

71 830 71 847 71 701 71 895 72 134 72 020

61 902 61 877 61 939 62 024 62 145 62 208

5 907 5 934 5 887 5 908 6 014 5 927

2 273 2 305 2 221 2 155 2 212 2 179

137 257 137 321 137 460 137 764 138 068 137 973

127 638 127 628 127 829 128 035 128 431 128 459

19 841 20 117 20 166 20 213 20 309 20 270

818 864 787 728 779 789

107 134 106 686 106 910 107 090 107 360 107 492

9 529 9 630 9 481 9 702 9 505 9 473

70 98 90 81 66 80

1Changes in survey design, 2Not seasonally adjusted.

. . . = Not available.

population estimates, and methodology in 1994 and several other years affect year-to-year comparisons. See notes and definitions for more information.

230

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-3. Civilian Employment and Unemployment 1 (Thousands of persons, percent; seasonally adjusted, except as noted.) Ratio, employment to population, percent Year and month Total

Persons 20 years and over Men

Women

Multiple job holders 2

Both Percent of sexes, 16 Thousands total to 19 years employed

Employed and at work part time Economic reasons

Noneconomic reasons

Unemployment, thousands

Total

Longterm 3

Persons 20 years and over Men

Women

Both sexes, 16 to 19 years

1948 ................................. 1949 .................................

56.6 55.4

85.8 83.7

30.7 30.6

47.7 45.2

... ...

... ...

... ...

... ...

2 276 3 637

309 684

1 305 2 219

564 841

409 576

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

56.1 57.3 57.3 57.1 55.5

84.2 86.1 86.2 85.9 83.5

31.6 32.6 33.0 32.9 32.3

45.5 47.9 46.9 46.4 42.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3 288 2 055 1 883 1 834 3 532

782 303 232 210 812

1 922 1 029 980 1 019 2 035

854 689 559 510 997

513 336 345 307 501

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

56.7 57.5 57.1 55.4 56.0

84.3 84.6 83.8 81.2 82.3

33.8 34.9 35.0 34.6 35.1

43.5 45.3 43.9 39.9 39.9

... ... ... ... ...

... ... ... ... ...

2 115 2 248 2 469 3 280 2 640

5 421 6 056 6 243 6 276 6 644

2 852 2 750 2 859 4 602 3 740

702 533 560 1 452 1 040

1 580 1 442 1 541 2 681 2 022

823 832 821 1 242 1 063

450 478 497 678 654

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

56.1 55.4 55.5 55.4 55.7

81.9 80.8 80.9 80.6 80.9

35.7 35.6 35.8 36.3 36.9

40.5 39.1 39.4 37.4 37.3

... ... ... ... ...

... ... ... ... ...

2 855 3 142 2 661 2 620 2 455

6 845 7 121 7 527 7 746 8 155

3 852 4 714 3 911 4 070 3 786

957 1 532 1 119 1 088 973

2 060 2 518 2 016 1 971 1 718

1 080 1 368 1 175 1 216 1 195

712 828 721 884 872

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

56.2 56.9 57.3 57.5 58.0

81.2 81.5 81.5 81.3 81.1

37.6 38.6 39.3 40.0 41.1

38.9 42.1 42.2 42.2 43.4

... ... ... ... ...

... ... ... ... ...

2 209 1 960 2 163 1 970 2 056

8 466 8 112 8 701 9 075 9 652

3 366 2 875 2 975 2 817 2 832

755 526 448 412 375

1 435 1 120 1 060 993 963

1 056 921 1 078 985 1 015

874 837 839 838 853

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

57.4 56.6 57.0 57.8 57.8

79.7 78.5 78.4 78.6 77.9

41.2 40.9 41.3 42.2 42.8

42.3 41.3 43.5 45.9 46.0

... ... ... ... ...

... ... ... ... ...

2 446 2 688 2 648 2 554 2 988

9 999 10 152 10 612 10 972 11 153

4 093 5 016 4 882 4 365 5 156

663 1 187 1 167 826 955

1 638 2 097 1 948 1 624 1 957

1 349 1 658 1 625 1 507 1 777

1 106 1 262 1 308 1 235 1 422

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

56.1 56.8 57.9 59.3 59.9

74.8 75.1 75.6 76.4 76.5

42.3 43.5 44.8 46.6 47.7

43.3 44.2 46.1 48.3 48.5

... ... ... ... ...

... ... ... ... ...

3 804 3 607 3 608 3 516 3 577

11 228 11 607 12 120 12 650 12 893

7 929 7 406 6 991 6 202 6 137

2 505 2 366 1 942 1 414 1 241

3 476 3 098 2 794 2 328 2 308

2 684 2 588 2 535 2 292 2 276

1 767 1 719 1 663 1 583 1 555

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

59.2 59.0 57.8 57.9 59.5

74.6 74.0 71.8 71.4 73.2

48.1 48.6 48.4 48.8 50.1

46.6 44.6 41.5 41.5 43.7

... ... ... ... ...

... ... ... ... ...

4 321 4 768 6 170 6 266 5 744

13 067 13 025 12 953 12 911 13 169

7 637 8 273 10 678 10 717 8 539

1 871 2 285 3 485 4 210 2 737

3 353 3 615 5 089 5 257 3 932

2 615 2 895 3 613 3 632 3 107

1 669 1 763 1 977 1 829 1 499

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

60.1 60.7 61.5 62.3 63.0

73.3 73.3 73.8 74.2 74.5

51.0 52.0 53.1 54.0 54.9

44.4 44.6 45.5 46.8 47.5

... ... ... ... ...

... ... ... ... ...

5 590 5 588 5 401 5 206 4 894

13 489 13 935 14 395 14 963 15 393

8 312 8 237 7 425 6 701 6 528

2 305 2 232 1 983 1 610 1 375

3 715 3 751 3 369 2 987 2 867

3 129 3 032 2 709 2 487 2 467

1 468 1 454 1 347 1 226 1 194

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

62.8 61.7 61.5 61.7 62.5

74.3 72.7 72.1 72.3 72.6

55.2 54.6 54.8 55.0 56.2

45.3 42.0 41.0 41.7 43.4

... ... ... ... 7 260

... ... ... ... 5.9

5 204 6 161 6 520 6 481 4 625

15 341 15 172 14 918 15 240 17 638

7 047 8 628 9 613 8 940 7 996

1 525 2 357 3 408 3 094 2 860

3 239 4 195 4 717 4 287 3 627

2 596 3 074 3 469 3 288 3 049

1 212 1 359 1 427 1 365 1 320

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

62.9 63.2 63.8 64.1 64.3

73.0 73.2 73.7 73.9 74.0

56.5 57.0 57.8 58.0 58.5

44.2 43.5 43.4 45.1 44.7

7 693 7 832 7 955 7 926 7 802

6.2 6.2 6.1 6.0 5.8

4 473 4 315 4 068 3 665 3 357

17 734 17 770 18 149 18 530 18 758

7 404 7 236 6 739 6 210 5 880

2 363 2 316 2 062 1 637 1 480

3 239 3 146 2 882 2 580 2 433

2 819 2 783 2 585 2 424 2 285

1 346 1 306 1 271 1 205 1 162

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

64.4 63.7 62.7 62.3 62.3

74.2 73.3 72.3 71.7 71.9

58.4 58.1 57.5 57.5 57.4

45.2 42.3 39.6 36.8 36.4

7 604 7 357 7 291 7 315 7 473

5.6 5.4 5.3 5.3 5.4

3 227 3 715 4 213 4 701 4 567

18 814 18 790 18 843 19 014 19 380

5 692 6 801 8 378 8 774 8 149

1 318 1 752 2 904 3 378 3 072

2 376 3 040 3 896 4 209 3 791

2 235 2 599 3 228 3 314 3 150

1 081 1 162 1 253 1 251 1 208

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

62.3 62.2 62.2 62.2 62.3 62.3

72.1 71.8 71.8 71.8 71.7 72.0

57.2 57.3 57.2 57.4 57.4 57.4

36.9 36.3 36.0 36.4 36.4 36.1

7 123 7 235 7 377 7 239 7 258 7 361

5.2 5.3 5.4 5.2 5.2 5.3

4 703 4 445 4 708 4 557 4 634 4 504

18 986 19 020 19 091 19 130 19 570 19 564

8 303 8 195 8 330 8 143 8 172 8 228

3 339 3 252 3 321 2 956 3 059 3 051

3 856 3 840 3 877 3 751 3 869 3 786

3 238 3 179 3 299 3 185 3 080 3 259

1 209 1 175 1 154 1 207 1 223 1 184

July .............................. August .......................... September ................... October ........................ November .................... December ....................

62.5 62.4 62.3 62.4 62.5 62.4

72.2 72.1 71.9 72.0 72.1 71.9

57.5 57.4 57.4 57.4 57.5 57.5

36.4 36.6 36.2 36.3 36.9 36.4

7 521 7 368 7 672 8 034 7 648 7 834

5.3 5.3 5.5 5.7 5.4 5.6

4 488 4 509 4 476 4 762 4 533 4 474

19 737 19 657 19 410 19 704 19 499 19 502

8 184 8 018 8 005 8 066 8 020 8 047

2 885 2 924 2 971 3 032 3 012 2 961

3 737 3 768 3 761 3 736 3 733 3 733

3 183 3 032 3 069 3 102 3 099 3 051

1 265 1 217 1 175 1 227 1 188 1 262

1Changes in survey design, 2Not seasonally adjusted. 3Fifteen weeks and over.

. . . = Not available.

population estimates, and methodology in 1994 and several other years affect year-to-year comparisons. See notes and definitions for more information.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

231

Table 10-4. Unemployment Rates 1 (Unemployment as a percent of the civilian labor force in group; seasonally adjusted, except as noted.) By age and sex All civilian workers

Year and month

20 years and over Men

Women

By race

Both sexes, 16 to 19 years

White

Black and other

By marital status

Black or African American

Asian 2

Hispanic or Latino ethnicity

Married men, spouse present

Married women, spouse present

Women who maintain families 2

1948 ......................................... 1949 .........................................

3.8 5.9

3.2 5.4

3.6 5.3

9.2 13.4

... ...

... ...

... ...

... ...

... ...

... ...

... ...

... ...

1950 1951 1952 1953 1954

......................................... ......................................... ......................................... ......................................... .........................................

5.3 3.3 3.0 2.9 5.5

4.7 2.5 2.4 2.5 4.9

5.1 4.0 3.2 2.9 5.5

12.2 8.2 8.5 7.6 12.6

... ... ... ... 5.0

... ... ... ... 9.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

......................................... ......................................... ......................................... ......................................... .........................................

4.4 4.1 4.3 6.8 5.5

3.8 3.4 3.6 6.2 4.7

4.4 4.2 4.1 6.1 5.2

11.0 11.1 11.6 15.9 14.6

3.9 3.6 3.8 6.1 4.8

8.7 8.3 7.9 12.6 10.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

2.6 2.3 2.8 5.1 3.6

3.7 3.6 4.3 6.5 5.2

... ... ... ... ...

1960 1961 1962 1963 1964

......................................... ......................................... ......................................... ......................................... .........................................

5.5 6.7 5.5 5.7 5.2

4.7 5.7 4.6 4.5 3.9

5.1 6.3 5.4 5.4 5.2

14.7 16.8 14.7 17.2 16.2

5.0 6.0 4.9 5.0 4.6

10.2 12.4 10.9 10.8 9.6

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3.7 4.6 3.6 3.4 2.8

5.2 6.4 5.4 5.4 5.1

... ... ... ... ...

1965 1966 1967 1968 1969

......................................... ......................................... ......................................... ......................................... .........................................

4.5 3.8 3.8 3.6 3.5

3.2 2.5 2.3 2.2 2.1

4.5 3.8 4.2 3.8 3.7

14.8 12.8 12.9 12.7 12.2

4.1 3.4 3.4 3.2 3.1

8.1 7.3 7.4 6.7 6.4

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

2.4 1.9 1.8 1.6 1.5

4.5 3.7 4.5 3.9 3.9

... ... 4.9 4.4 4.4

1970 1971 1972 1973 1974

......................................... ......................................... ......................................... ......................................... .........................................

4.9 5.9 5.6 4.9 5.6

3.5 4.4 4.0 3.3 3.8

4.8 5.7 5.4 4.9 5.5

15.3 16.9 16.2 14.5 16.0

4.5 5.4 5.1 4.3 5.0

8.2 9.9 10.0 9.0 9.9

... ... 10.4 9.4 10.5

... ... ... ... ...

... ... ... 7.5 8.1

2.6 3.2 2.8 2.3 2.7

4.9 5.7 5.4 4.7 5.3

5.4 7.3 7.2 7.1 7.0

1975 1976 1977 1978 1979

......................................... ......................................... ......................................... ......................................... .........................................

8.5 7.7 7.1 6.1 5.8

6.8 5.9 5.2 4.3 4.2

8.0 7.4 7.0 6.0 5.7

19.9 19.0 17.8 16.4 16.1

7.8 7.0 6.2 5.2 5.1

13.8 13.1 13.1 11.9 11.3

14.8 14.0 14.0 12.8 12.3

... ... ... ... ...

12.2 11.5 10.1 9.1 8.3

5.1 4.2 3.6 2.8 2.8

7.9 7.1 6.5 5.5 5.1

10.0 10.1 9.4 8.5 8.3

1980 1981 1982 1983 1984

......................................... ......................................... ......................................... ......................................... .........................................

7.1 7.6 9.7 9.6 7.5

5.9 6.3 8.8 8.9 6.6

6.4 6.8 8.3 8.1 6.8

17.8 19.6 23.2 22.4 18.9

6.3 6.7 8.6 8.4 6.5

13.1 14.2 17.3 17.8 14.4

14.3 15.6 18.9 19.5 15.9

... ... ... ... ...

10.1 10.4 13.8 13.7 10.7

4.2 4.3 6.5 6.5 4.6

5.8 6.0 7.4 7.0 5.7

9.2 10.4 11.7 12.2 10.3

1985 1986 1987 1988 1989

......................................... ......................................... ......................................... ......................................... .........................................

7.2 7.0 6.2 5.5 5.3

6.2 6.1 5.4 4.8 4.5

6.6 6.2 5.4 4.9 4.7

18.6 18.3 16.9 15.3 15.0

6.2 6.0 5.3 4.7 4.5

13.7 13.1 11.6 10.4 10.0

15.1 14.5 13.0 11.7 11.4

... ... ... ... ...

10.5 10.6 8.8 8.2 8.0

4.3 4.4 3.9 3.3 3.0

5.6 5.2 4.3 3.9 3.7

10.4 9.8 9.2 8.1 8.1

1990 1991 1992 1993 1994

......................................... ......................................... ......................................... ......................................... .........................................

5.6 6.8 7.5 6.9 6.1

5.0 6.4 7.1 6.4 5.4

4.9 5.7 6.3 5.9 5.4

15.5 18.7 20.1 19.0 17.6

4.8 6.1 6.6 6.1 5.3

10.1 11.1 12.7 11.7 10.5

11.4 12.5 14.2 13.0 11.5

... ... ... ... ...

8.2 10.0 11.6 10.8 9.9

3.4 4.4 5.1 4.4 3.7

3.8 4.5 5.0 4.6 4.1

8.3 9.3 10.0 9.7 8.9

1995 1996 1997 1998 1999

......................................... ......................................... ......................................... ......................................... .........................................

5.6 5.4 4.9 4.5 4.2

4.8 4.6 4.2 3.7 3.5

4.9 4.8 4.4 4.1 3.8

17.3 16.7 16.0 14.6 13.9

4.9 4.7 4.2 3.9 3.7

9.6 9.3 8.8 7.8 7.0

10.4 10.5 10.0 8.9 8.0

... ... ... ... ...

9.3 8.9 7.7 7.2 6.4

3.3 3.0 2.7 2.4 2.2

3.9 3.6 3.1 2.9 2.7

8.0 8.2 8.1 7.2 6.4

2000 2001 2002 2003 2004

......................................... ......................................... ......................................... ......................................... .........................................

4.0 4.7 5.8 6.0 5.5

3.3 4.2 5.3 5.6 5.0

3.6 4.1 5.1 5.1 4.9

13.1 14.7 16.5 17.5 17.0

3.5 4.2 5.1 5.2 4.8

6.7 7.7 9.2 ... ...

7.6 8.6 10.2 10.8 10.4

3.6 4.5 5.9 6.0 4.4

5.7 6.6 7.5 7.7 7.0

2.0 2.7 3.6 3.8 3.1

2.7 3.1 3.7 3.7 3.5

5.9 6.6 8.0 8.5 8.0

2004 January ................................. February ............................... March ................................... April ...................................... May ....................................... June ......................................

5.7 5.6 5.7 5.5 5.6 5.6

5.1 5.1 5.2 5.0 5.2 5.0

5.0 4.9 5.1 4.9 4.8 5.0

16.9 16.7 16.5 17.0 17.2 16.8

4.9 5.0 5.1 4.9 5.0 5.0

... ... ... ... ... ...

10.4 9.7 10.2 9.8 10.0 10.3

5.2 4.7 4.2 4.4 4.2 5.0

7.3 7.4 7.4 7.1 6.9 6.7

3.3 3.4 3.2 3.1 3.1 3.2

3.7 3.6 3.7 3.7 3.3 3.7

8.3 8.1 8.4 7.5 7.4 8.2

July ....................................... August .................................. September ............................ October ................................. November ............................. December .............................

5.5 5.4 5.4 5.5 5.4 5.4

4.9 5.0 5.0 4.9 4.9 4.9

4.9 4.7 4.7 4.8 4.7 4.7

17.6 17.0 16.6 17.2 16.5 17.6

4.8 4.7 4.7 4.7 4.6 4.6

... ... ... ... ... ...

11.0 10.5 10.4 10.7 10.8 10.8

4.3 3.6 4.3 4.8 4.2 4.1

6.8 6.9 7.0 6.7 6.7 6.6

3.2 3.1 3.0 3.0 3.1 3.1

3.5 3.5 3.1 3.1 3.4 3.4

9.0 8.3 8.2 7.8 7.7 7.1

1Changes in survey design, 2Not seasonally adjusted.

. . . = Not available.

population estimates, and methodology in 1994 and several other years affect year-to-year comparisons. See notes and definitions for more information.

232

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-5. Unemployment Rates and Related Data 1 (Seasonally adjusted.) Unemployment rates by reason for unemployment (percent of total civilian labor force) Job losers and persons who completed temporary jobs

Year and month Total

Job leavers

Reentrants

New entrants

Duration of unemployment

Augmented unemployment measures

Average (mean) weeks unemployed

Median weeks unemployed

Persons not in labor force who currently want a job, thousands

Augmented unemployment rate 2

1948 .............................................. 1949 ..............................................

3.8 5.9

... ...

... ...

... ...

... ...

8.6 10.0

... ...

... ...

... ...

1950 1951 1952 1953 1954

.............................................. .............................................. .............................................. .............................................. ..............................................

5.3 3.3 3.0 2.9 5.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

12.1 9.7 8.4 8.0 11.8

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

.............................................. .............................................. .............................................. .............................................. ..............................................

4.4 4.1 4.3 6.8 5.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

13.0 11.3 10.5 13.9 14.4

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

.............................................. .............................................. .............................................. .............................................. ..............................................

5.5 6.7 5.5 5.7 5.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

12.8 15.6 14.7 14.0 13.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

.............................................. .............................................. .............................................. .............................................. ..............................................

4.5 3.8 3.8 3.6 3.5

... ... 1.6 1.4 1.3

... ... 0.6 0.5 0.5

... ... 1.2 1.2 1.2

... ... 0.5 0.5 0.5

11.8 10.4 8.7 8.4 7.8

... ... 2.3 4.5 4.4

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

.............................................. .............................................. .............................................. .............................................. ..............................................

4.9 5.9 5.6 4.9 5.6

2.2 2.8 2.4 1.9 2.4

0.7 0.7 0.7 0.8 0.8

1.5 1.7 1.7 1.5 1.6

0.6 0.7 0.8 0.7 0.7

8.6 11.3 12.0 10.0 9.8

4.9 6.3 6.2 5.2 5.2

3 907 4 441 4 476 4 474 4 541

9.2 10.6 10.2 9.4 10.0

1975 1976 1977 1978 1979

.............................................. .............................................. .............................................. .............................................. ..............................................

8.5 7.7 7.1 6.1 5.8

4.7 3.8 3.2 2.5 2.5

0.9 0.9 0.9 0.9 0.8

2.0 2.0 2.0 1.8 1.7

0.9 0.9 1.0 0.9 0.8

14.2 15.8 14.3 11.9 10.8

8.4 8.2 7.0 5.9 5.4

5 292 5 217 5 777 5 459 5 439

13.3 12.5 12.2 10.8 10.5

1980 1981 1982 1983 1984

.............................................. .............................................. .............................................. .............................................. ..............................................

7.1 7.6 9.7 9.6 7.5

3.7 3.9 5.7 5.6 3.9

0.8 0.8 0.8 0.7 0.7

1.8 1.9 2.2 2.2 1.9

0.8 0.9 1.1 1.1 1.0

11.9 13.7 15.6 20.0 18.2

6.5 6.9 8.7 10.1 7.9

5 682 5 819 6 563 6 484 6 054

11.8 12.3 14.8 14.6 12.2

1985 1986 1987 1988 1989

.............................................. .............................................. .............................................. .............................................. ..............................................

7.2 7.0 6.2 5.5 5.3

3.6 3.4 3.0 2.5 2.4

0.8 0.9 0.8 0.8 0.8

2.0 1.8 1.6 1.5 1.5

0.9 0.9 0.8 0.7 0.5

15.6 15.0 14.5 13.5 11.9

6.8 6.9 6.5 5.9 4.8

5 908 5 848 5 721 5 370 5 312

11.7 11.4 10.5 9.5 9.2

1990 1991 1992 1993 1994

.............................................. .............................................. .............................................. .............................................. ..............................................

5.6 6.8 7.5 6.9 6.1

2.7 3.7 4.2 3.8 2.9

0.8 0.8 0.8 0.8 0.6

1.5 1.7 1.8 1.7 2.1

0.5 0.6 0.7 0.7 0.5

12.0 13.7 17.7 18.0 18.8

5.3 6.8 8.7 8.3 9.2

5 481 5 745 6 172 6 346 6 218

9.5 10.9 11.8 11.3 10.4

1995 1996 1997 1998 1999

.............................................. .............................................. .............................................. .............................................. ..............................................

5.6 5.4 4.9 4.5 4.2

2.6 2.5 2.2 2.1 1.9

0.6 0.6 0.6 0.5 0.6

1.9 1.9 1.7 1.5 1.4

0.4 0.4 0.4 0.4 0.3

16.6 16.7 15.8 14.5 13.4

8.3 8.3 8.0 6.7 6.4

5 670 5 451 4 941 4 812 4 568

9.5 9.1 8.3 7.7 7.3

2000 2001 2002 2003 2004

.............................................. .............................................. .............................................. .............................................. ..............................................

4.0 4.7 5.8 6.0 5.5

1.8 2.4 3.2 3.3 2.8

0.5 0.6 0.6 0.6 0.6

1.4 1.4 1.6 1.7 1.6

0.3 0.3 0.4 0.4 0.5

12.6 13.1 16.6 19.2 19.6

5.9 6.8 9.1 10.1 9.8

4 413 4 590 4 677 4 726 4 852

6.9 7.7 8.7 8.9 8.5

2004 January ..................................... February ................................... March ........................................ April .......................................... May ........................................... June ..........................................

5.7 5.6 5.7 5.5 5.6 5.6

3.0 2.9 3.0 2.9 2.8 2.8

0.5 0.6 0.6 0.6 0.6 0.6

1.7 1.7 1.6 1.6 1.7 1.6

0.5 0.5 0.4 0.4 0.5 0.4

19.8 20.2 19.9 19.7 19.8 19.8

10.6 10.2 10.2 9.4 9.9 10.8

4 746 4 746 4 817 4 720 4 669 4 674

8.6 8.6 8.7 8.5 8.5 8.5

July ........................................... August ...................................... September ................................ October ..................................... November ................................. December .................................

5.5 5.4 5.4 5.5 5.4 5.4

2.9 2.7 2.7 2.8 2.7 2.8

0.6 0.6 0.6 0.6 0.6 0.6

1.6 1.7 1.6 1.6 1.6 1.6

0.5 0.5 0.5 0.5 0.5 0.5

18.5 19.2 19.6 19.7 19.8 19.3

8.9 9.5 9.5 9.5 9.8 9.5

4 688 4 908 4 903 5 338 5 087 5 021

8.4 8.5 8.5 8.7 8.5 8.5

1Changes in survey design, 2See notes and definitions.

. . . = Not available.

population estimates, and methodology in 1994 and several other years affect year-to-year comparisons. See notes and definitions for more information.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

233

Table 10-6. Insured Unemployment (Averages of weekly data; thousands of persons, except as noted.) State programs (seasonally adjusted)

Federal programs (not seasonally adjusted) Initial claims

Year and month Initial claims

Insured unemployment

Insured unemployment rate (percent) 1

Federal employees

Persons claiming benefits

Newly discharged veterans

Federal employees

Newly discharged veterans

Railroad retirement

Extended benefits

1967 ................................. 1968 ................................. 1969 .................................

227 197 196

1 206 1 088 1 092

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

297 296 263 244 352

1 848 2 152 1 844 1 629 2 278

... 4.1 3.5 2.7 3.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

474 383 374 341 383

3 965 2 978 2 644 2 337 2 428

6.0 4.5 3.9 3.3 3.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

488 451 586 441 374

3 365 3 032 4 094 3 337 2 452

3.9 3.5 4.7 3.9 2.8

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

392 378 325 309 330

2 584 2 632 2 273 2 075 2 174

2.9 2.8 2.4 2.1 2.1

... 2.13 2.19 2.32 2.14

... 2.52 2.57 2.74 2.31

... 20.24 21.29 22.91 22.17

... 17.11 17.71 18.13 15.09

... ... ... 13.28 10.37

... ... 9.51 1.17 0.61

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

385 447 409 344 340

2 539 3 338 3 208 2 768 2 667

2.4 3.2 3.1 2.6 2.5

2.45 2.55 2.75 2.55 2.54

2.54 2.93 4.95 3.94 3.02

23.89 30.50 32.10 32.06 32.21

18.43 22.12 60.25 54.90 37.65

10.56 10.73 8.77 7.40 6.21

2.36 32.16 4.61 7.59 31.09

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

359 352 322 317 298

2 590 2 552 2 300 2 213 2 186

2.4 2.3 2.0 1.9 1.8

4.57 7.33 2.01 1.64 1.48

2.51 2.13 1.75 1.41 1.18

31.68 29.84 23.58 19.60 16.85

29.78 24.30 19.66 15.68 14.25

5.48 5.40 4.00 3.19 3.24

14.27 5.53 5.35 6.43 3.05

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

299 406 404 402 343

2 112 3 017 3 570 3 532 2 929

1.7 2.4 2.8 2.8 2.3

1.73 1.47 1.46 1.56 1.50

1.05 1.15 1.22 1.46 1.89

18.60 18.57 17.54 18.22 18.14

12.54 13.98 16.07 19.68 26.90

3.92 ... ... ... ...

0.58 0.57 10.79 22.30 4.22

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

406 394 414 427 412 386

3 550 3 553 3 601 3 670 3 692 3 623

2.8 2.8 2.8 2.9 2.9 2.8

1.81 1.11 0.99 1.26 1.24 1.57

1.24 1.10 1.03 1.04 0.99 1.05

20.30 18.77 16.56 15.30 13.49 13.93

16.81 16.56 15.76 14.66 14.06 13.56

... ... ... ... ... ...

12.96 32.84 26.14 4.02 3.00 1.36

July .............................. August .......................... September ................... October ........................ November .................... December ....................

386 394 412 411 395 417

3 496 3 514 3 563 3 583 3 504 3 502

2.7 2.7 2.8 2.8 2.7 2.8

1.78 1.33 1.44 1.69 1.69 1.71

1.23 1.40 1.44 1.59 1.26 1.29

16.16 18.75 17.77 18.94 19.23 21.76

13.84 15.00 16.19 17.70 18.87 20.13

... ... ... ... ... ...

0.52 1.82 7.06 12.03 12.47 15.55

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

390 406 427 435 428 419

3 418 3 446 3 535 3 612 3 692 3 685

2.7 2.7 2.8 2.9 2.9 2.9

1.93 1.25 1.06 1.10 1.18 1.68

1.49 1.27 1.27 1.16 1.08 1.20

22.74 20.63 18.03 15.32 13.34 13.88

20.74 20.68 19.70 18.04 16.99 16.58

... ... ... ... ... ...

24.93 17.30 17.63 16.94 16.06 15.38

July .............................. August .......................... September ................... October ........................ November .................... December ....................

409 400 398 386 367 361

3 605 3 590 3 579 3 512 3 393 3 296

2.9 2.8 2.8 2.8 2.7 2.6

2.02 1.32 1.66 1.74 1.87 1.94

1.35 1.66 1.77 1.89 1.56 1.84

16.61 18.30 18.14 19.51 19.82 22.34

16.74 17.84 19.50 21.51 23.16 24.70

... ... ... ... ... ...

13.87 20.02 32.18 33.33 30.46 29.52

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

354 356 345 348 341 346

3 164 3 131 3 043 2 985 2 947 2 922

2.5 2.5 2.4 2.4 2.3 2.3

1.92 1.20 1.04 1.11 1.15 1.49

2.03 1.72 1.65 1.62 1.79 1.92

24.16 21.53 19.52 16.91 14.53 14.00

27.65 28.43 27.81 26.54 25.51 25.29

... ... ... ... ... ...

20.93 9.27 2.36 2.48 2.28 2.01

July .............................. August .......................... September ................... October ........................ November .................... December ....................

338 341 341 339 334 331

2 893 2 877 2 855 2 798 2 757 2 757

2.3 2.3 2.3 2.2 2.2 2.2

1.89 1.35 1.33 1.69 1.82 1.90

2.10 2.18 2.20 2.04 1.66 1.69

16.16 17.90 16.59 17.32 18.24 20.93

25.64 26.49 26.57 27.63 27.31 28.26

... ... ... ... ... ...

0.17 0.01 0.00 0.00 0.01 0.00

1Insured

unemployed as a percent of employment covered by state programs. . . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Section 10b: Payroll Employment, Hours, and Earnings

Figure 10-3. Total Nonfarm Payroll Employment, 1946–2004 (ratio scale) 150

120

Millions of jobs

234

90

60

30

1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year

• The number of jobs on nonfarm payrolls rose 1.1 percent in 2004 after two years of decline. As with total civilian employment, this rate of increase just barely kept up with population growth. Between 1948 and 2000, job growth averaged 2.1 percent per year. (Table 10-7) • Job growth in 2004 was led by private service-providing industries. Growth in government was quite modest. In the goods-producing sector, employment increased in mining and construction but continued to decline in manufacturing. (Table 10-7) • The diffusion index shows the percentage of industries in which employment is stagnant or falling. Diffusion indexes below 50 percent are indicative of recession. In the short recession of 1980 and even in the severe recession of 1982, this index was below 50 only for a year or so. In 1990–1991, it remained there for two years, and in the latest recession, for three years running. However, job growth became more pervasive by early 2004. (Table 10-7)

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

235

Table 10-7. Nonfarm Payroll Employment by NAICS Supersector (Thousands; seasonally adjusted, except as noted.) Private

Service-providing

Goods-producing Year and month

Total

Private Manufacturing

Total Total

Natural resources and mining

Construction

Trade, transportation, and utilities Total Total

Total

Durable

Nondurable

Total

Wholesale Retail trade trade

1946 1947 1948 1949

.......................... .......................... .......................... ..........................

41 759 43 945 44 954 43 843

36 054 38 379 39 213 37 893

16 122 17 314 17 579 16 464

885 976 1 014 948

1 724 2 051 2 241 2 236

13 513 14 287 14 324 13 281

7 535 8 079 8 028 7 240

5 978 6 208 6 296 6 041

25 637 26 631 27 376 27 379

19 932 21 064 21 634 21 430

8 945 9 452 9 716 9 579

1 962 2 116 2 230 2 227

4 118 4 393 4 524 4 520

1950 1951 1952 1953 1954

.......................... .......................... .......................... .......................... ..........................

45 287 47 930 48 909 50 310 49 093

39 167 41 427 42 182 43 552 42 235

17 343 18 703 18 928 19 733 18 515

924 956 928 902 825

2 405 2 678 2 709 2 700 2 688

14 013 15 070 15 291 16 131 15 002

7 809 8 738 8 979 9 690 8 773

6 204 6 332 6 312 6 441 6 229

27 945 29 227 29 981 30 577 30 578

21 824 22 725 23 254 23 820 23 720

9 694 10 089 10 302 10 504 10 357

2 255 2 335 2 408 2 444 2 454

4 580 4 758 4 880 5 012 4 999

1955 1956 1957 1958 1959

.......................... .......................... .......................... .......................... ..........................

50 744 52 473 52 959 51 426 53 374

43 722 45 087 45 235 43 480 45 182

19 234 19 799 19 669 18 319 19 163

828 859 864 801 789

2 881 3 082 3 007 2 862 3 050

15 524 15 858 15 798 14 656 15 325

9 161 9 435 9 452 8 480 8 988

6 363 6 424 6 346 6 176 6 337

31 510 32 674 33 290 33 107 34 211

24 489 25 288 25 566 25 161 26 018

10 612 10 921 10 942 10 656 10 960

2 505 2 583 2 593 2 551 2 638

5 158 5 315 5 328 5 267 5 453

1960 1961 1962 1963 1964

.......................... .......................... .......................... .......................... ..........................

54 296 54 105 55 659 56 764 58 391

45 832 45 399 46 655 47 423 48 680

19 182 18 647 19 203 19 385 19 733

771 728 709 694 697

2 973 2 908 2 997 3 060 3 148

15 438 15 011 15 498 15 631 15 888

9 071 8 711 9 099 9 226 9 414

6 367 6 300 6 399 6 405 6 474

35 114 35 458 36 455 37 379 38 658

26 650 26 752 27 451 28 038 28 947

11 147 11 040 11 215 11 367 11 677

2 690 2 681 2 737 2 780 2 856

5 589 5 560 5 672 5 781 5 977

1965 1966 1967 1968 1969

.......................... .......................... .......................... .......................... ..........................

60 874 64 020 65 931 68 023 70 512

50 683 53 110 54 406 56 050 58 181

20 595 21 740 21 882 22 292 22 893

694 690 679 671 683

3 284 3 371 3 305 3 410 3 637

16 617 17 680 17 897 18 211 18 573

9 973 10 803 10 952 11 137 11 396

6 644 6 878 6 945 7 074 7 177

40 279 42 280 44 049 45 731 47 619

30 089 31 370 32 524 33 759 35 288

12 139 12 611 12 950 13 334 13 853

2 967 3 080 3 158 3 236 3 344

6 262 6 530 6 711 6 977 7 295

1970 1971 1972 1973 1974

.......................... .......................... .......................... .......................... ..........................

71 006 71 335 73 798 76 912 78 389

58 318 58 323 60 333 63 050 64 086

22 179 21 602 22 299 23 450 23 364

677 658 672 693 755

3 654 3 770 3 957 4 167 4 095

17 848 17 174 17 669 18 589 18 514

10 762 10 229 10 630 11 414 11 432

7 086 6 944 7 039 7 176 7 082

48 827 49 734 51 499 53 462 55 025

36 139 36 721 38 034 39 600 40 721

14 144 14 318 14 788 15 349 15 693

3 418 3 424 3 547 3 688 3 823

7 463 7 657 8 038 8 371 8 536

1975 1976 1977 1978 1979

.......................... .......................... .......................... .......................... ..........................

77 069 79 502 82 593 86 826 89 932

62 250 64 501 67 334 71 014 73 864

21 318 22 025 22 972 24 156 24 997

802 832 865 902 1 008

3 608 3 662 3 940 4 322 4 562

16 909 17 531 18 167 18 932 19 426

10 266 10 640 11 132 11 770 12 220

6 643 6 891 7 035 7 162 7 206

55 751 57 477 59 620 62 670 64 935

40 932 42 476 44 362 46 858 48 868

15 606 16 128 16 765 17 658 18 303

3 810 3 920 4 055 4 280 4 485

8 600 8 966 9 359 9 879 10 180

1980 1981 1982 1983 1984

.......................... .......................... .......................... .......................... ..........................

90 528 91 289 89 677 90 280 94 530

74 154 75 109 73 695 74 269 78 371

24 263 24 118 22 550 22 110 23 435

1 077 1 180 1 163 997 1 014

4 454 4 304 4 024 4 065 4 501

18 733 18 634 17 363 17 048 17 920

11 679 11 611 10 610 10 326 11 050

7 054 7 023 6 753 6 722 6 870

66 265 67 172 67 127 68 171 71 095

49 891 50 991 51 145 52 160 54 936

18 413 18 604 18 457 18 668 19 653

4 557 4 634 4 575 4 559 4 788

10 244 10 364 10 372 10 635 11 223

1985 1986 1987 1988 1989

.......................... .......................... .......................... .......................... ..........................

97 511 99 474 102 088 105 345 108 014

80 978 82 636 84 932 87 806 90 087

23 585 23 318 23 470 23 909 24 045

974 829 771 770 750

4 793 4 937 5 090 5 233 5 309

17 819 17 552 17 609 17 906 17 985

11 034 10 795 10 767 10 969 11 004

6 784 6 757 6 842 6 938 6 981

73 926 76 156 78 618 81 436 83 969

57 393 59 318 61 462 63 897 66 042

20 379 20 795 21 302 21 974 22 510

4 915 4 935 5 003 5 153 5 284

11 733 12 078 12 419 12 808 13 108

1990 1991 1992 1993 1994

.......................... .......................... .......................... .......................... ..........................

109 487 108 374 108 726 110 844 114 291

91 072 89 829 89 940 91 855 95 016

23 723 22 588 22 095 22 219 22 774

765 739 689 666 659

5 263 4 780 4 608 4 779 5 095

17 695 17 068 16 799 16 774 17 021

10 736 10 219 9 945 9 900 10 131

6 959 6 849 6 854 6 873 6 890

85 764 85 787 86 631 88 625 91 517

67 349 67 241 67 845 69 636 72 242

22 666 22 281 22 125 22 378 23 128

5 268 5 185 5 110 5 093 5 247

13 182 12 896 12 828 13 021 13 491

1995 1996 1997 1998 1999

.......................... .......................... .......................... .......................... ..........................

117 298 119 708 122 776 125 930 128 993

97 866 100 169 103 113 106 021 108 686

23 156 23 410 23 886 24 354 24 465

641 637 654 645 598

5 274 5 536 5 813 6 149 6 545

17 241 17 237 17 419 17 560 17 322

10 372 10 485 10 704 10 910 10 830

6 869 6 752 6 716 6 650 6 492

94 142 96 299 98 890 101 576 104 528

74 710 76 759 79 227 81 667 84 221

23 834 24 239 24 700 25 186 25 771

5 433 5 522 5 664 5 795 5 893

13 897 14 143 14 389 14 609 14 970

2000 2001 2002 2003 2004

.......................... .......................... .......................... .......................... ..........................

131 785 131 826 130 341 129 999 131 480

110 996 110 707 108 828 108 416 109 862

24 649 23 873 22 557 21 816 21 884

599 606 583 572 591

6 787 6 826 6 716 6 735 6 964

17 263 16 441 15 259 14 510 14 329

10 876 10 335 9 483 8 963 8 923

6 388 6 107 5 775 5 547 5 406

107 136 107 952 107 784 108 182 109 596

86 346 86 834 86 271 86 599 87 978

26 225 25 983 25 497 25 287 25 510

5 933 5 773 5 652 5 608 5 655

15 280 15 239 15 025 14 917 15 035

2004 January ................. February ............... March .................... April ....................... May ....................... June ......................

130 372 130 466 130 786 131 123 131 373 131 479

108 839 108 915 109 204 109 516 109 787 109 908

21 703 21 699 21 773 21 825 21 888 21 890

575 577 585 589 592 591

6 845 6 841 6 897 6 913 6 949 6 955

14 283 14 281 14 291 14 323 14 347 14 344

8 855 8 864 8 873 8 902 8 925 8 931

5 428 5 417 5 418 5 421 5 422 5 413

108 669 108 767 109 013 109 298 109 485 109 589

87 136 87 216 87 431 87 691 87 899 88 018

25 348 25 367 25 441 25 481 25 511 25 536

5 618 5 617 5 629 5 648 5 651 5 653

14 962 14 977 15 021 15 038 15 052 15 061

July ....................... August ................... September ............ October ................. November ............. December .............

131 562 131 750 131 880 132 162 132 294 132 449

109 976 110 105 110 203 110 462 110 588 110 749

21 902 21 946 21 947 21 982 21 996 22 022

596 595 597 595 599 602

6 965 6 985 6 998 7 043 7 060 7 086

14 341 14 366 14 352 14 344 14 337 14 334

8 926 8 965 8 957 8 960 8 954 8 957

5 415 5 401 5 395 5 384 5 383 5 377

109 660 109 804 109 933 110 180 110 298 110 427

88 074 88 159 88 256 88 480 88 592 88 727

25 536 25 537 25 555 25 581 25 621 25 620

5 660 5 663 5 672 5 675 5 680 5 684

15 048 15 043 15 038 15 057 15 081 15 077

236

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-7. Nonfarm Payroll Employment by NAICS Supersector—Continued (Thousands; seasonally adjusted, except as noted.) Service-providing—Continued Private—Continued Year and month Information

Financial activities

Government

ProfesEducation Leisure sional and and health and business services hospitality services

Federal Other services

Total Total

State

Department of Defense 1

Total

Local

Education

Total

Education

Diffusion index, 6-month span, private industry 2

1946 1947 1948 1949

.......................... .......................... .......................... ..........................

1 594 1 658 1 669 1 583

1 619 1 674 1 742 1 768

2 666 2 828 2 893 2 853

1 885 2 015 2 077 2 097

2 485 2 650 2 726 2 729

737 788 812 820

5 705 5 567 5 742 5 950

2 365 1 985 1 954 2 001

746 499 511 531

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1950 1951 1952 1953 1954

.......................... .......................... .......................... .......................... ..........................

1 625 1 718 1 736 1 785 1 693

1 825 1 890 1 964 2 036 2 118

2 928 3 061 3 128 3 215 3 197

2 144 2 221 2 281 2 335 2 385

2 769 2 877 2 950 3 030 3 034

839 870 894 916 936

6 120 6 502 6 727 6 758 6 858

2 023 2 415 2 539 2 418 2 295

533 797 868 818 744

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

.......................... .......................... .......................... .......................... ..........................

1 735 1 778 1 780 1 674 1 718

2 212 2 299 2 348 2 386 2 454

3 320 3 437 3 504 3 449 3 591

2 491 2 593 2 676 2 695 2 822

3 140 3 242 3 267 3 243 3 365

978 1 018 1 050 1 058 1 107

7 021 7 386 7 724 7 946 8 192

2 295 2 318 2 326 2 298 2 342

744 749 729 695 699

1 168 1 249 1 328 1 415 1 484

308 334 363 389 420

3 558 3 819 4 071 4 232 4 366

1 751 1 884 2 026 2 115 2 198

... ... ... ... ...

1960 1961 1962 1963 1964

.......................... .......................... .......................... .......................... ..........................

1 728 1 693 1 723 1 735 1 766

2 532 2 590 2 656 2 731 2 811

3 694 3 744 3 885 3 990 4 137

2 937 3 030 3 172 3 288 3 438

3 460 3 468 3 557 3 639 3 772

1 152 1 188 1 243 1 288 1 346

8 464 8 706 9 004 9 341 9 711

2 381 2 391 2 455 2 473 2 463

681 683 697 687 676

1 536 1 607 1 669 1 747 1 856

448 474 511 557 609

4 547 4 708 4 881 5 121 5 392

2 314 2 411 2 522 2 674 2 839

... ... ... ... ...

1965 1966 1967 1968 1969

.......................... .......................... .......................... .......................... ..........................

1 824 1 908 1 955 1 991 2 048

2 878 2 961 3 087 3 234 3 404

4 306 4 517 4 720 4 918 5 156

3 587 3 770 3 986 4 191 4 428

3 951 4 127 4 269 4 453 4 670

1 404 1 475 1 558 1 638 1 731

10 191 10 910 11 525 11 972 12 330

2 495 2 690 2 852 2 871 2 893

679 741 802 801 815

1 996 2 141 2 302 2 442 2 533

679 775 873 958 1 042

5 700 6 080 6 371 6 660 6 904

3 031 3 297 3 490 3 649 3 785

... ... ... ... ...

1970 1971 1972 1973 1974

.......................... .......................... .......................... .......................... ..........................

2 041 2 009 2 056 2 135 2 160

3 532 3 651 3 784 3 920 4 023

5 267 5 328 5 523 5 774 5 974

4 577 4 675 4 863 5 092 5 322

4 789 4 914 5 121 5 341 5 471

1 789 1 827 1 900 1 990 2 078

12 687 13 012 13 465 13 862 14 303

2 865 2 828 2 815 2 794 2 858

756 731 720 696 698

2 664 2 747 2 859 2 923 3 039

1 104 1 149 1 188 1 205 1 267

7 158 7 437 7 790 8 146 8 407

3 912 4 091 4 262 4 433 4 584

... ... ... ... ...

1975 1976 1977 1978 1979

.......................... .......................... .......................... .......................... ..........................

2 061 2 111 2 185 2 287 2 375

4 047 4 155 4 348 4 599 4 843

6 034 6 287 6 587 6 972 7 312

5 497 5 756 6 052 6 427 6 767

5 544 5 794 6 065 6 411 6 631

2 144 2 244 2 359 2 505 2 637

14 820 15 001 15 258 15 812 16 068

2 882 2 863 2 859 2 893 2 894

704 693 676 661 649

3 179 3 273 3 377 3 474 3 541

1 323 1 371 1 385 1 367 1 378

8 758 8 865 9 023 9 446 9 633

4 722 4 786 4 859 4 958 4 989

... ... 79.7 76.2 57.9

1980 1981 1982 1983 1984

.......................... .......................... .......................... .......................... ..........................

2 361 2 382 2 317 2 253 2 398

5 025 5 163 5 209 5 334 5 553

7 544 7 782 7 848 8 039 8 464

7 072 7 357 7 515 7 766 8 193

6 721 6 840 6 874 7 078 7 489

2 755 2 865 2 924 3 021 3 186

16 375 16 180 15 982 16 011 16 159

3 000 2 922 2 884 2 915 2 943

645 655 690 699 716

3 610 3 640 3 640 3 662 3 734

1 398 1 420 1 433 1 450 1 488

9 765 9 619 9 458 9 434 9 482

5 090 5 095 5 049 5 020 5 076

37.5 58.0 36.8 78.2 72.6

1985 1986 1987 1988 1989

.......................... .......................... .......................... .......................... ..........................

2 437 2 445 2 507 2 585 2 622

5 815 6 128 6 385 6 500 6 562

8 871 9 211 9 608 10 090 10 555

8 657 9 061 9 515 10 063 10 616

7 869 8 156 8 446 8 778 9 062

3 366 3 523 3 699 3 907 4 116

16 533 16 838 17 156 17 540 17 927

3 014 3 044 3 089 3 124 3 136

738 736 736 719 735

3 832 3 893 3 967 4 076 4 182

1 540 1 561 1 586 1 621 1 668

9 687 9 901 10 100 10 339 10 609

5 221 5 358 5 469 5 590 5 740

57.6 57.6 69.5 66.3 53.7

1990 1991 1992 1993 1994

.......................... .......................... .......................... .......................... ..........................

2 688 2 677 2 641 2 668 2 738

6 614 6 558 6 540 6 709 6 867

10 848 10 714 10 970 11 495 12 174

10 984 11 506 11 891 12 303 12 807

9 288 9 256 9 437 9 732 10 100

4 261 4 249 4 240 4 350 4 428

18 415 18 545 18 787 18 989 19 275

3 196 3 110 3 111 3 063 3 018

722 702 702 670 657

4 305 4 355 4 408 4 488 4 576

1 730 1 768 1 799 1 834 1 882

10 914 11 081 11 267 11 438 11 682

5 902 5 994 6 076 6 206 6 329

43.4 45.0 62.8 70.7 80.4

1995 1996 1997 1998 1999

.......................... .......................... .......................... .......................... ..........................

2 843 2 940 3 084 3 218 3 419

6 827 6 969 7 178 7 462 7 648

12 844 13 462 14 335 15 147 15 957

13 289 13 683 14 087 14 446 14 798

10 501 10 777 11 018 11 232 11 543

4 572 4 690 4 825 4 976 5 087

19 432 19 539 19 664 19 909 20 307

2 949 2 877 2 806 2 772 2 769

627 597 588 550 525

4 635 4 606 4 582 4 612 4 709

1 919 1 911 1 904 1 922 1 983

11 849 12 056 12 276 12 525 12 829

6 453 6 592 6 759 6 921 7 120

68.5 77.5 79.9 69.4 68.9

2000 2001 2002 2003 2004

.......................... .......................... .......................... .......................... ..........................

3 631 3 629 3 395 3 188 3 138

7 687 7 807 7 847 7 977 8 052

16 666 16 476 15 976 15 987 16 414

15 109 15 645 16 199 16 588 16 954

11 862 12 036 11 986 12 173 12 479

5 168 5 258 5 372 5 401 5 431

20 790 21 118 21 513 21 583 21 618

2 865 2 764 2 766 2 761 2 728

510 504 499 486 469

4 786 4 905 5 029 5 002 4 985

2 031 2 113 2 243 2 255 2 249

13 139 13 449 13 718 13 820 13 905

7 294 7 479 7 654 7 709 7 763

59.0 33.5 35.3 40.3 64.6

2004 January ................. February ............... March .................... April ....................... May ....................... June ......................

3 139 3 143 3 136 3 142 3 146 3 151

7 989 7 997 8 005 8 021 8 037 8 051

16 138 16 153 16 184 16 305 16 384 16 415

16 766 16 787 16 833 16 871 16 913 16 936

12 351 12 367 12 412 12 443 12 474 12 486

5 405 5 402 5 420 5 428 5 434 5 443

21 533 21 551 21 582 21 607 21 586 21 571

2 729 2 731 2 730 2 745 2 729 2 731

470 467 466 466 466 472

4 961 4 971 4 974 4 975 4 967 4 963

2 230 2 240 2 242 2 243 2 233 2 228

13 843 13 849 13 878 13 887 13 890 13 877

7 713 7 718 7 743 7 751 7 753 7 743

47.3 50.4 54.9 62.6 64.4 69.6

July ....................... August ................... September ............ October ................. November ............. December .............

3 144 3 135 3 127 3 131 3 133 3 127

8 043 8 058 8 083 8 093 8 107 8 128

16 453 16 470 16 514 16 614 16 611 16 674

16 963 17 010 17 019 17 081 17 108 17 142

12 497 12 508 12 522 12 546 12 571 12 589

5 438 5 441 5 436 5 434 5 441 5 447

21 586 21 645 21 677 21 700 21 706 21 700

2 726 2 730 2 730 2 723 2 728 2 706

473 473 470 468 470 471

4 976 4 987 5 000 5 007 5 015 5 020

2 241 2 249 2 264 2 268 2 271 2 278

13 884 13 928 13 947 13 970 13 963 13 974

7 758 7 786 7 793 7 811 7 806 7 811

67.3 68.9 64.6 62.2 59.7 55.9

1Not seasonally adjusted. 2See notes and definitions

. . . = Not available.

for explanation. September value used to represent year.

237

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS Table 10-8. Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector (Thousands, seasonally adjusted.)

Year and month

Total private

Trade, transportation, and utilities

Natural resources and mining

Construction

Manufacturing

Total

Wholesale Retail trade trade

Information

Financial activities

Professional and business services

Education and health services

Leisure and hospitality

Other services

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

866 898 829

1 938 2 106 2 100

12 453 12 383 11 355

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

811 838 801 772 691

2 251 2 493 2 510 2 491 2 467

12 032 12 808 12 797 13 437 12 300

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

688 709 702 630 615

2 628 2 804 2 730 2 573 2 730

12 735 12 869 12 640 11 532 12 089

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... 40 575

596 556 538 525 526

2 651 2 582 2 656 2 719 2 794

12 074 11 612 11 986 12 051 12 298

... ... ... ... 10 303

... ... ... ... ...

... ... ... ... ...

... ... ... ... 1 217

... ... ... ... 2 390

... ... ... ... 3 360

... ... ... ... 3 303

... ... ... ... 3 278

... ... ... ... 1 107

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

42 302 44 292 45 185 46 519 48 246

523 517 501 491 501

2 906 2 977 2 903 2 986 3 177

12 905 13 703 13 714 13 908 14 147

10 702 11 095 11 369 11 688 12 152

... ... ... ... ...

... ... ... ... ...

1 268 1 334 1 365 1 394 1 438

2 434 2 492 2 585 2 700 2 841

3 515 3 715 3 890 4 067 4 252

3 443 3 623 3 818 4 008 4 196

3 443 3 607 3 734 3 898 4 089

1 161 1 230 1 306 1 379 1 452

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

48 180 48 151 49 971 52 235 52 846

496 474 494 502 550

3 158 3 238 3 425 3 576 3 469

13 490 13 034 13 497 14 227 14 040

12 388 12 502 12 954 13 437 13 700

... ... 2 920 3 041 3 148

... ... 7 257 7 551 7 673

1 422 1 392 1 437 1 504 1 516

2 922 2 978 3 066 3 164 3 217

4 321 4 354 4 518 4 748 4 907

4 305 4 372 4 531 4 747 4 941

4 185 4 286 4 467 4 664 4 766

1 494 1 521 1 583 1 666 1 740

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

51 010 52 916 55 207 58 188 60 403

581 606 636 658 737

2 990 2 999 3 209 3 544 3 760

12 576 13 127 13 591 14 150 14 458

13 578 14 038 14 579 15 329 15 843

3 121 3 212 3 323 3 509 3 667

7 714 8 048 8 396 8 861 9 113

1 416 1 459 1 514 1 586 1 650

3 227 3 300 3 452 3 645 3 825

4 939 5 153 5 404 5 717 5 993

5 088 5 309 5 561 5 874 6 157

4 821 5 046 5 284 5 588 5 772

1 795 1 880 1 978 2 099 2 209

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

60 372 60 960 59 465 60 005 63 316

785 861 834 698 714

3 623 3 469 3 208 3 240 3 614

13 667 13 492 12 315 12 121 12 821

15 907 16 004 15 821 15 999 16 797

3 708 3 753 3 662 3 639 3 821

9 158 9 238 9 254 9 494 9 964

1 626 1 633 1 564 1 502 1 631

3 957 4 052 4 055 4 128 4 289

6 197 6 396 6 421 6 581 6 918

6 442 6 694 6 812 7 032 7 368

5 850 5 944 5 976 6 161 6 491

2 318 2 414 2 458 2 542 2 672

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

65 436 66 802 68 700 71 029 72 927

686 577 541 545 526

3 868 3 984 4 088 4 199 4 257

12 648 12 449 12 537 12 765 12 805

17 427 17 769 18 196 18 771 19 230

3 935 3 941 3 989 4 132 4 235

10 399 10 704 10 986 11 306 11 565

1 660 1 663 1 717 1 775 1 807

4 476 4 698 4 861 4 894 4 931

7 258 7 532 7 859 8 256 8 648

7 770 8 107 8 488 8 956 9 432

6 817 7 066 7 310 7 587 7 833

2 827 2 957 3 104 3 280 3 459

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

73 684 72 520 72 786 74 591 77 382

538 515 478 462 461

4 115 3 674 3 546 3 704 3 973

12 669 12 164 12 020 12 070 12 361

19 032 18 640 18 506 18 752 19 392

4 198 4 122 4 071 4 072 4 196

11 308 11 008 10 931 11 104 11 502

1 866 1 871 1 871 1 896 1 928

4 973 4 911 4 908 5 057 5 183

8 889 8 748 8 971 9 451 10 078

9 748 10 212 10 555 10 908 11 338

8 299 8 247 8 406 8 667 8 979

3 555 3 539 3 526 3 623 3 689

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

79 845 81 773 84 158 86 316 88 430

458 461 479 473 438

4 113 4 325 4 546 4 807 5 105

12 566 12 532 12 673 12 729 12 524

19 984 20 325 20 698 21 059 21 576

4 361 4 423 4 523 4 605 4 673

11 841 12 057 12 274 12 440 12 772

2 007 2 096 2 181 2 217 2 351

5 165 5 279 5 415 5 605 5 728

10 645 11 161 11 896 12 566 13 184

11 765 12 123 12 478 12 791 13 089

9 330 9 565 9 780 9 947 10 216

3 812 3 907 4 013 4 124 4 219

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

90 336 89 983 88 393 87 658 88 976

446 457 436 420 440

5 295 5 332 5 196 5 123 5 300

12 428 11 677 10 768 10 190 10 083

21 965 21 709 21 337 21 078 21 298

4 686 4 555 4 474 4 396 4 438

13 040 12 952 12 774 12 655 12 766

2 502 2 530 2 398 2 347 2 389

5 737 5 810 5 872 5 967 6 001

13 790 13 588 13 049 12 910 13 306

13 362 13 846 14 311 14 532 14 771

10 516 10 662 10 576 10 666 10 945

4 296 4 373 4 449 4 426 4 442

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

87 907 87 976 88 216 88 565 88 817 88 978

425 425 434 439 442 440

5 196 5 211 5 237 5 264 5 283 5 287

10 021 10 013 10 028 10 064 10 093 10 095

21 112 21 133 21 203 21 232 21 277 21 313

4 383 4 385 4 395 4 411 4 428 4 432

12 687 12 705 12 745 12 751 12 768 12 787

2 332 2 341 2 342 2 367 2 381 2 393

5 956 5 956 5 958 5 966 5 981 6 002

13 013 13 020 13 066 13 193 13 266 13 294

14 630 14 639 14 659 14 699 14 728 14 753

10 810 10 831 10 867 10 910 10 928 10 949

4 412 4 407 4 422 4 431 4 438 4 452

July .............................. August .......................... September ................... October ........................ November .................... December ....................

89 087 89 262 89 371 89 648 89 781 89 921

443 446 448 445 450 452

5 303 5 314 5 322 5 383 5 379 5 408

10 102 10 131 10 117 10 111 10 104 10 097

21 317 21 331 21 365 21 402 21 453 21 443

4 444 4 453 4 464 4 473 4 483 4 491

12 775 12 782 12 782 12 797 12 825 12 810

2 400 2 407 2 412 2 421 2 421 2 439

5 998 6 010 6 027 6 038 6 049 6 065

13 346 13 378 13 432 13 521 13 525 13 557

14 775 14 821 14 815 14 871 14 895 14 929

10 959 10 967 10 981 11 006 11 044 11 060

4 444 4 457 4 452 4 450 4 461 4 471

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 10-4. Average Weekly Hours, Selected Industries, 1947–2004 45

Average weekly hours

238

40

35 Manufacturing 30

Retail trade

25

Leisure and hospitality

1948

1953

1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• The hours per week worked at the average private nonfarm production or nonsupervisory job fell from 38.5 in 1964 to 33.7 in 2003 and 2004. It should be noted that these are hours per job, not hours per person. A worker with two half-time jobs would enter this average as two workers with 20 hours per week each, not as one worker with 40 hours. (Table 10-9) • The downtrend in the all-industry average reflected increases in the number of part-time jobs, as well as the increasing importance of retail trade, leisure and hospitality (restaurants, hotels, and motels), and other service-providing industries where such jobs are frequently found. As shown by the graph above, manufacturing—which accounts for a steadily declining share of employment—displayed no long-term downtrend in the workweek; if anything, factory workers have worked longer hours on average since the early 1980s. There was also no downtrend for construction or for natural resources and mining. However, a downtrend has occurred in recent decades for retail trade and for leisure and hospitality. These industries already had shorter workweeks and have recently accounted for an increasing share of total employment. (Tables 10-7 and 10-9)

239

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

Table 10-9. Average Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector (Hours per week, seasonally adjusted.)

Year and month

Total private

Natural resources Construction and mining

Manufacturing

Trade, transportation, and utilities

Average weekly hours

Overtime hours

Total

Wholesale trade

Retail trade

Information

Financial activities

ProfesEducation Leisure sional and and health and business services hospitality services

Other services

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

42.3 41.1 38.2

38.7 38.6 38.2

40.5 40.1 39.2

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

39.8 40.2 40.5 40.7 40.3

37.9 38.6 39.4 38.4 37.7

40.6 40.7 40.8 40.6 39.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

42.3 42.3 41.7 40.6 42.1

37.6 38.0 37.5 37.3 37.5

40.8 40.5 39.9 39.2 40.3

... 2.8 2.3 2.0 2.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... 38.5

41.9 42.1 42.5 43.0 43.4

37.2 37.4 37.5 37.8 37.7

39.8 39.9 40.5 40.6 40.8

2.5 2.4 2.8 2.8 3.1

... ... ... ... 39.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... 38.2

... ... ... ... 37.2

... ... ... ... 37.4

... ... ... ... 35.5

... ... ... ... 32.8

... ... ... ... 36.3

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

38.6 38.5 37.9 37.7 37.5

43.7 44.1 43.9 44.0 44.3

37.9 38.1 38.1 37.8 38.4

41.2 41.4 40.6 40.7 40.6

3.6 3.9 3.3 3.5 3.6

39.6 39.1 38.5 38.2 37.9

... ... ... ... ...

... ... ... ... ...

38.3 38.3 37.6 37.6 37.6

37.1 37.2 36.9 36.8 36.9

37.3 37.0 36.6 36.3 36.3

35.2 34.9 34.5 34.1 34.1

32.5 31.9 31.3 30.8 30.4

36.1 35.8 35.4 35.0 35.0

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

37.0 36.8 36.9 36.9 36.4

43.9 43.7 44.0 43.8 43.7

37.8 37.6 37.0 37.2 37.1

39.8 39.9 40.6 40.7 40.0

2.9 2.9 3.4 3.8 3.2

37.6 37.4 37.4 37.2 36.8

... ... 39.8 39.6 39.2

... ... 35.1 34.8 34.3

37.2 37.0 37.3 37.3 37.0

36.6 36.4 36.4 36.4 36.3

35.9 35.5 35.5 35.5 35.3

33.8 33.3 33.3 33.3 33.1

30.0 29.9 29.7 29.4 29.1

34.7 34.2 34.2 34.1 33.9

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

36.0 36.1 35.9 35.8 35.6

43.7 44.2 44.7 44.9 44.7

36.9 37.3 37.0 37.3 37.5

39.5 40.1 40.3 40.4 40.2

2.6 3.1 3.4 3.6 3.3

36.4 36.3 36.0 35.6 35.4

39.1 39.1 39.2 39.2 39.2

34.0 33.8 33.3 32.7 32.4

36.6 36.7 36.8 36.8 36.6

36.2 36.2 36.2 36.1 35.9

35.1 34.9 34.7 34.6 34.4

33.0 32.7 32.5 32.3 32.2

28.8 28.5 28.1 27.7 27.4

33.8 33.6 33.4 33.2 33.0

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

35.2 35.2 34.7 34.9 35.1

44.9 45.1 44.1 43.9 44.6

37.5 37.4 37.2 37.6 38.2

39.7 39.8 38.9 40.1 40.7

2.8 2.8 2.3 2.9 3.4

35.0 34.9 34.6 34.6 34.7

38.8 38.9 38.7 38.8 38.9

31.9 31.9 31.7 31.6 31.6

36.3 36.3 35.8 36.2 36.6

36.0 36.0 36.0 35.9 36.2

34.3 34.3 34.2 34.4 34.3

32.1 32.1 32.1 32.1 32.0

27.0 26.9 26.8 26.8 26.7

33.0 33.0 33.0 33.0 32.9

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

34.9 34.7 34.7 34.6 34.5

44.6 43.6 43.5 43.3 44.1

38.2 37.9 38.2 38.2 38.3

40.5 40.7 40.9 41.0 40.9

3.3 3.4 3.7 3.8 3.8

34.4 34.1 34.1 33.8 33.8

38.8 38.7 38.5 38.5 38.4

31.2 31.0 31.0 30.9 30.7

36.5 36.4 36.5 36.1 36.1

36.1 36.1 36.0 35.6 35.6

34.2 34.3 34.3 34.2 34.2

31.9 32.0 32.0 32.0 32.0

26.4 26.2 26.3 26.3 26.1

32.8 32.9 32.8 32.9 32.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

34.3 34.1 34.2 34.3 34.5

45.0 45.3 44.6 44.9 45.3

38.3 38.1 38.0 38.4 38.8

40.5 40.4 40.7 41.1 41.7

3.8 3.8 4.0 4.4 5.0

33.7 33.7 33.8 34.1 34.3

38.4 38.4 38.6 38.5 38.8

30.6 30.4 30.7 30.7 30.9

35.8 35.6 35.8 36.0 36.0

35.5 35.5 35.6 35.5 35.5

34.2 34.0 34.0 34.0 34.1

31.9 31.9 32.0 32.0 32.0

26.0 25.6 25.7 25.9 26.0

32.8 32.7 32.6 32.6 32.7

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

34.3 34.3 34.5 34.5 34.3

45.3 46.0 46.2 44.9 44.2

38.8 38.9 38.9 38.8 39.0

41.3 41.3 41.7 41.4 41.4

4.7 4.8 5.1 4.8 4.8

34.1 34.1 34.3 34.2 33.9

38.6 38.6 38.8 38.6 38.6

30.8 30.7 30.9 30.9 30.8

36.0 36.4 36.3 36.6 36.7

35.5 35.5 35.7 36.0 35.8

34.0 34.1 34.3 34.3 34.4

32.0 31.9 32.2 32.2 32.1

25.9 25.9 26.0 26.2 26.1

32.6 32.5 32.7 32.6 32.5

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

34.3 34.0 33.9 33.7 33.7

44.4 44.6 43.2 43.6 44.5

39.2 38.7 38.4 38.4 38.3

41.3 40.3 40.5 40.4 40.8

4.7 4.0 4.2 4.2 4.6

33.8 33.5 33.6 33.6 33.5

38.8 38.4 38.0 37.9 37.8

30.7 30.7 30.9 30.9 30.7

36.8 36.9 36.5 36.2 36.3

35.9 35.8 35.6 35.5 35.5

34.5 34.2 34.2 34.1 34.2

32.2 32.3 32.4 32.3 32.4

26.1 25.8 25.8 25.6 25.7

32.5 32.3 32.0 31.4 31.0

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

33.8 33.8 33.7 33.7 33.8 33.6

44.4 44.1 44.2 44.3 44.2 43.9

38.4 38.3 38.6 38.2 38.3 38.0

41.0 41.0 40.9 40.8 41.0 40.7

4.5 4.5 4.6 4.5 4.6 4.5

33.6 33.7 33.6 33.6 33.6 33.2

37.9 38.0 38.0 38.0 37.8 37.6

30.9 30.9 30.8 30.8 30.8 30.4

36.3 36.4 36.3 36.3 36.3 36.5

35.7 35.5 35.5 35.6 35.8 35.5

34.1 34.3 34.1 34.2 34.2 34.0

32.4 32.4 32.3 32.4 32.4 32.4

25.7 25.8 25.7 25.7 25.7 25.7

31.1 31.1 31.1 31.1 31.1 30.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

33.7 33.7 33.8 33.8 33.7 33.7

44.2 44.4 44.5 44.8 45.0 45.4

38.3 38.1 38.3 38.2 38.3 38.4

40.8 40.9 40.8 40.7 40.5 40.5

4.6 4.6 4.6 4.5 4.5 4.5

33.4 33.5 33.6 33.6 33.5 33.6

37.8 37.7 37.8 37.7 37.7 37.6

30.6 30.7 30.8 30.8 30.6 30.8

36.3 36.4 36.3 36.3 36.2 36.4

35.6 35.5 35.5 35.7 35.6 35.7

34.2 34.3 34.7 34.3 34.2 34.2

32.6 32.5 32.5 32.5 32.4 32.5

25.6 25.6 25.6 25.7 25.6 25.7

31.0 31.0 31.0 30.9 30.9 30.8

. . . = Not available.

240

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-10. Indexes of Aggregate Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector (2002 = 100, seasonally adjusted.)

Year and month

Total private

Trade, transportation, and utilities

Natural resources and mining

Construction

Manufacturing

Total

Wholesale Retail trade trade

Information

Financial activities

Professional and business services

Education and health services

Leisure and hospitality

Other services

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

194.7 196.0 168.3

37.6 40.7 40.2

115.7 114.0 102.2

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

171.6 179.1 172.2 166.7 148.1

42.7 48.2 49.5 47.9 46.6

112.0 119.8 119.8 125.3 112.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

154.7 159.4 155.5 135.8 137.4

49.5 53.3 51.3 48.0 51.3

119.3 119.7 115.8 103.8 111.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... 52.2

132.8 124.2 121.5 120.0 121.3

49.4 48.4 49.8 51.4 52.8

110.2 106.3 111.3 112.2 115.1

... ... ... ... 57.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... 53.0

... ... ... ... 42.5

... ... ... ... 28.2

... ... ... ... 25.3

... ... ... ... 39.4

... ... ... ... 28.2

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

54.6 56.9 57.2 58.5 60.5

121.6 121.1 117.0 114.9 118.1

55.2 56.8 55.4 56.5 61.0

122.0 130.1 127.8 130.1 131.9

59.0 60.5 61.1 62.2 64.3

... ... ... ... ...

... ... ... ... ...

55.5 58.3 58.6 59.9 61.7

43.3 44.3 45.7 47.6 50.2

29.4 30.8 31.9 33.1 34.6

26.2 27.3 28.4 29.5 30.9

41.0 42.2 42.9 44.1 45.6

29.4 30.9 32.4 33.9 35.6

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

59.5 59.1 61.6 64.3 64.3

115.7 109.9 115.6 117.0 127.7

59.8 61.0 63.4 66.7 64.5

123.3 119.2 125.7 132.9 128.9

64.9 65.1 67.5 69.6 70.2

... ... 68.4 71.0 72.7

... ... 64.4 66.4 66.7

60.4 58.7 61.1 64.1 64.0

51.1 51.9 53.4 55.1 55.8

34.7 34.7 36.0 37.8 38.8

31.3 31.4 32.6 34.1 35.3

46.1 46.9 48.6 50.3 50.8

36.3 36.5 37.9 39.9 41.4

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

61.3 63.8 66.3 69.5 71.8

134.9 142.4 151.1 156.9 175.2

55.2 56.0 59.4 66.2 70.6

113.9 120.8 125.8 131.2 133.3

68.9 70.9 73.1 76.1 78.3

71.8 73.9 76.7 81.0 84.6

66.4 68.8 70.7 73.4 74.7

59.1 61.1 63.5 66.6 69.0

55.9 57.1 59.7 63.0 65.8

38.9 40.3 42.1 44.3 46.3

36.2 37.5 39.0 40.9 42.7

50.9 52.8 54.4 56.6 57.9

42.6 44.3 46.3 48.8 51.2

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

71.0 71.6 69.0 70.0 74.3

187.2 206.2 195.5 162.8 169.3

68.0 64.9 59.7 61.0 69.1

124.4 123.1 109.9 111.6 119.6

77.6 78.0 76.4 77.2 81.2

84.8 86.0 83.4 83.3 87.5

74.0 74.5 74.2 76.0 79.8

67.4 67.6 64.0 62.1 68.0

68.1 69.8 69.8 70.9 74.2

47.7 49.2 49.2 50.7 53.2

44.6 46.3 47.1 48.8 50.9

57.9 58.7 58.7 60.5 63.6

53.6 55.8 56.8 58.9 61.7

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

76.2 77.5 79.7 82.1 84.1

162.7 133.5 125.2 125.6 123.2

73.9 75.5 78.1 80.4 81.7

117.5 116.3 117.8 120.2 120.3

83.5 84.5 86.5 88.6 90.5

89.9 89.8 90.5 93.6 95.9

82.2 83.9 86.3 88.5 90.0

69.1 69.1 71.4 73.1 74.4

77.3 81.2 83.7 83.4 83.9

55.6 57.8 60.3 63.3 66.3

53.5 55.9 58.5 61.8 65.2

66.1 68.0 70.5 73.0 74.9

65.1 68.2 71.5 75.7 79.8

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

84.4 82.6 83.1 85.5 89.2

128.6 123.8 113.3 110.3 111.0

78.8 70.1 67.5 71.3 77.3

117.7 112.8 112.4 113.9 118.3

89.5 87.4 87.3 89.0 92.7

94.9 93.3 92.4 92.4 95.8

87.5 84.8 85.1 86.3 89.8

76.2 76.1 76.5 78.0 79.2

84.5 83.3 83.5 85.9 88.0

68.1 66.7 68.4 71.9 77.0

67.2 70.2 72.9 75.4 78.3

78.9 77.3 79.3 82.2 85.6

81.8 81.2 80.6 82.8 84.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

91.6 93.8 97.1 99.4 101.5

110.2 112.7 117.6 112.8 102.9

79.9 84.3 88.6 93.4 99.7

119.0 118.8 121.4 121.0 118.9

95.1 96.6 98.8 100.3 101.9

99.2 100.7 103.4 104.8 106.2

92.3 93.7 95.9 97.2 99.5

82.5 86.9 90.4 92.6 98.5

87.8 89.8 92.6 96.5 98.0

81.2 85.2 91.5 96.7 101.7

81.2 83.4 86.7 88.9 90.6

88.5 90.8 93.4 95.5 97.9

87.1 89.1 91.9 94.3 96.3

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

103.6 102.1 100.0 98.7 100.3

105.1 108.3 100.0 97.4 104.1

104.0 103.2 100.0 98.4 101.5

117.7 108.1 100.0 94.5 94.4

103.5 101.5 100.0 98.6 99.4

107.1 102.9 100.0 98.0 98.7

101.3 100.5 100.0 98.9 99.3

104.9 106.6 100.0 97.0 99.0

98.5 99.5 100.0 101.5 102.1

106.6 104.0 100.0 98.7 101.9

92.8 96.6 100.0 101.4 103.3

100.6 100.7 100.0 100.1 102.9

97.8 99.1 100.0 97.5 96.5

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

99.3 99.4 99.3 99.7 100.3 99.9

100.3 99.6 101.9 103.3 103.8 102.6

99.9 99.9 101.2 100.7 101.3 100.6

94.3 94.2 94.1 94.2 95.0 94.3

98.9 99.3 99.3 99.5 99.7 98.6

97.8 98.1 98.4 98.7 98.6 98.1

99.2 99.4 99.4 99.4 99.5 98.4

96.6 97.2 97.0 98.0 98.6 99.7

101.8 101.2 101.2 101.6 102.5 102.0

99.4 100.1 99.9 101.1 101.7 101.3

102.3 102.3 102.1 102.7 102.9 103.1

101.8 102.4 102.4 102.8 102.9 103.1

96.3 96.1 96.5 96.7 96.8 96.5

July .............................. August .......................... September ................... October ........................ November .................... December ....................

100.3 100.5 100.9 101.2 101.1 101.2

104.1 105.2 105.9 105.9 107.6 109.0

101.7 101.4 102.1 103.0 103.2 104.0

94.6 95.1 94.7 94.4 93.9 93.9

99.3 99.6 100.1 100.2 100.2 100.4

98.9 98.9 99.4 99.3 99.5 99.4

99.0 99.3 99.6 99.8 99.3 99.9

99.4 100.0 99.9 100.3 100.0 101.3

102.2 102.1 102.4 103.2 103.1 103.6

102.3 102.8 104.5 103.9 103.7 103.9

103.9 103.9 103.9 104.3 104.1 104.7

102.8 102.9 103.0 103.7 103.6 104.2

96.6 96.9 96.8 96.5 96.7 96.6

. . . = Not available.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

241

Table 10-11. Average Hourly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector (Dollars, seasonally adjusted.)

Year and month

Total private

Trade, transportation, and utilities

Natural resources and mining

Construction

Manufacturing

Total

Wholesale Retail trade trade

Information

Financial activities

Professional and business services

Education and health services

Leisure and hospitality

Other services

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

1.43 1.61 1.67

1.12 1.29 1.37

1.10 1.20 1.25

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

1.72 1.88 1.95 2.08 2.09

1.44 1.60 1.71 1.86 1.96

1.32 1.45 1.53 1.63 1.66

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

2.15 2.27 2.39 2.42 2.50

2.03 2.15 2.29 2.40 2.51

1.74 1.84 1.93 1.99 2.08

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... 2.53

2.55 2.59 2.65 2.70 2.76

2.65 2.78 2.89 2.99 3.08

2.15 2.20 2.27 2.34 2.41

... ... ... ... 2.85

... ... ... ... ...

... ... ... ... ...

... ... ... ... 4.35

... ... ... ... 2.29

... ... ... ... 3.17

... ... ... ... 2.01

... ... ... ... 1.06

... ... ... ... 1.14

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2.63 2.73 2.85 3.02 3.22

2.87 3.00 3.14 3.30 3.54

3.23 3.41 3.63 3.92 4.30

2.49 2.60 2.71 2.89 3.07

2.94 3.04 3.15 3.32 3.48

... ... ... ... ...

... ... ... ... ...

4.47 4.56 4.68 4.85 5.05

2.38 2.47 2.58 2.75 2.92

3.28 3.39 3.51 3.65 3.84

2.12 2.23 2.36 2.49 2.68

1.14 1.23 1.34 1.49 1.64

1.25 1.37 1.49 1.62 1.81

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3.40 3.63 3.90 4.14 4.43

3.77 3.99 4.28 4.59 5.09

4.74 5.17 5.55 5.89 6.29

3.23 3.45 3.70 3.97 4.31

3.65 3.86 4.23 4.45 4.74

... ... 4.58 4.80 5.11

... ... 3.52 3.69 3.92

5.25 5.53 5.87 6.17 6.52

3.07 3.23 3.37 3.55 3.80

4.04 4.26 4.50 4.72 5.01

2.88 3.11 3.33 3.54 3.82

1.78 1.90 2.03 2.15 2.34

2.01 2.24 2.46 2.67 2.95

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4.73 5.06 5.44 5.87 6.33

5.68 6.19 6.70 7.44 8.20

6.78 7.17 7.56 8.11 8.71

4.71 5.09 5.55 6.05 6.57

5.02 5.31 5.67 6.10 6.55

5.45 5.75 6.12 6.61 7.12

4.14 4.36 4.65 5.00 5.34

6.92 7.37 7.84 8.34 8.86

4.08 4.30 4.58 4.93 5.31

5.29 5.60 5.95 6.32 6.71

4.09 4.39 4.72 5.07 5.44

2.52 2.71 2.96 3.25 3.54

3.21 3.51 3.84 4.19 4.56

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

6.84 7.43 7.86 8.19 8.48

8.97 9.89 10.64 11.14 11.54

9.37 10.24 11.04 11.36 11.56

7.15 7.86 8.36 8.70 9.05

7.04 7.55 7.91 8.23 8.45

7.68 8.28 8.81 9.27 9.61

5.71 6.09 6.34 6.60 6.73

9.47 10.21 10.76 11.18 11.50

5.82 6.34 6.82 7.32 7.65

7.22 7.80 8.30 8.70 8.98

5.93 6.49 7.00 7.39 7.67

3.89 4.26 4.52 4.76 4.87

5.05 5.61 6.11 6.51 6.79

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

8.73 8.92 9.13 9.43 9.80

11.87 12.14 12.17 12.45 12.91

11.75 11.92 12.15 12.52 12.98

9.40 9.59 9.77 10.05 10.35

8.60 8.74 8.92 9.15 9.46

9.88 10.07 10.32 10.71 11.12

6.83 6.93 7.02 7.23 7.46

11.81 12.08 12.36 12.63 12.99

7.97 8.37 8.73 9.07 9.54

9.28 9.55 9.85 10.22 10.69

7.98 8.25 8.57 8.96 9.46

4.98 5.07 5.17 5.37 5.62

7.10 7.38 7.69 8.08 8.58

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

10.19 10.50 10.76 11.03 11.32

13.40 13.82 14.09 14.12 14.41

13.42 13.65 13.81 14.04 14.38

10.78 11.13 11.40 11.70 12.04

9.83 10.08 10.30 10.55 10.80

11.58 11.95 12.21 12.57 12.93

7.71 7.89 8.12 8.36 8.61

13.40 13.90 14.29 14.86 15.32

9.99 10.42 10.86 11.36 11.82

11.14 11.50 11.78 11.96 12.15

10.00 10.49 10.87 11.21 11.50

5.88 6.06 6.20 6.32 6.46

9.08 9.39 9.66 9.90 10.18

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

11.64 12.03 12.49 13.00 13.47

14.78 15.10 15.57 16.20 16.33

14.73 15.11 15.67 16.23 16.80

12.34 12.75 13.14 13.45 13.85

11.10 11.46 11.90 12.39 12.82

13.34 13.80 14.41 15.07 15.62

8.85 9.21 9.59 10.05 10.45

15.68 16.30 17.14 17.67 18.40

12.28 12.71 13.22 13.93 14.47

12.53 13.00 13.57 14.27 14.85

11.80 12.17 12.56 13.00 13.44

6.62 6.82 7.13 7.48 7.76

10.51 10.85 11.29 11.79 12.26

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

14.00 14.53 14.95 15.35 15.67

16.55 17.00 17.19 17.56 18.08

17.48 18.00 18.52 18.95 19.23

14.32 14.76 15.29 15.74 16.14

13.31 13.70 14.02 14.34 14.59

16.28 16.77 16.98 17.36 17.66

10.86 11.29 11.67 11.90 12.08

19.07 19.80 20.20 21.01 21.42

14.98 15.59 16.17 17.14 17.53

15.52 16.33 16.81 17.21 17.46

13.95 14.64 15.21 15.64 16.16

8.11 8.35 8.58 8.76 8.91

12.73 13.27 13.72 13.84 13.98

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

15.48 15.51 15.54 15.58 15.62 15.64

17.87 17.94 18.01 18.01 18.02 18.16

19.07 19.17 19.15 19.20 19.19 19.19

15.94 15.98 16.01 16.07 16.08 16.12

14.44 14.48 14.46 14.52 14.54 14.59

17.52 17.53 17.51 17.59 17.60 17.66

11.94 11.97 11.98 12.01 12.04 12.07

21.17 21.23 21.22 21.31 21.43 21.28

17.36 17.35 17.40 17.45 17.47 17.49

17.28 17.28 17.30 17.33 17.40 17.43

15.87 15.92 16.02 16.03 16.09 16.15

8.83 8.87 8.87 8.86 8.87 8.86

13.84 13.87 13.94 13.92 13.95 13.97

July .............................. August .......................... September ................... October ........................ November .................... December ....................

15.70 15.74 15.77 15.81 15.82 15.85

18.08 18.05 18.06 18.10 18.22 18.37

19.21 19.25 19.27 19.34 19.31 19.29

16.16 16.22 16.29 16.27 16.29 16.34

14.63 14.65 14.66 14.69 14.70 14.72

17.71 17.69 17.73 17.78 17.80 17.87

12.10 12.13 12.16 12.16 12.20 12.21

21.42 21.52 21.62 21.59 21.58 21.70

17.55 17.57 17.64 17.71 17.65 17.71

17.48 17.59 17.54 17.63 17.66 17.69

16.24 16.24 16.28 16.31 16.34 16.37

8.89 8.91 8.95 8.99 9.02 9.01

13.98 14.00 14.05 14.08 14.12 14.13

. . . = Not available.

242

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 10-12. Average Weekly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Supersector (Dollars, seasonally adjusted.)

Year and month

Total private

Trade, transportation, and utilities

Natural resources and mining

Construction

Manufacturing

Total

Wholesale Retail trade trade

Information

Financial activities

Professional and business services

Education and health services

Leisure and hospitality

Other services

1947 ................................. 1948 ................................. 1949 .................................

... ... ...

60.49 66.17 63.79

43.34 49.79 52.33

44.55 48.12 49.00

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

68.46 75.58 78.98 84.66 84.23

54.58 61.76 67.37 71.42 73.89

53.59 59.02 62.42 66.18 65.90

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

90.95 96.02 99.66 98.25 105.25

76.33 81.70 85.88 89.52 94.13

70.99 74.52 77.01 78.01 83.82

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

... ... ... ... 97.41

106.85 109.04 112.63 116.10 119.78

98.58 103.97 108.38 113.02 116.12

85.57 87.78 91.94 95.00 98.33

... ... ... ... 113.15

... ... ... ... ...

... ... ... ... ...

... ... ... ... 166.17

... ... ... ... 85.19

... ... ... ... 118.56

... ... ... ... 71.36

... ... ... ... 34.77

... ... ... ... 41.38

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

101.52 105.11 108.02 113.85 120.75

125.42 132.30 137.85 145.20 156.82

122.42 129.92 138.30 148.18 165.12

102.59 107.64 110.03 117.62 124.64

116.42 118.86 121.28 126.82 131.89

... ... ... ... ...

... ... ... ... ...

171.20 174.65 175.97 182.36 189.88

88.30 91.88 95.20 101.20 107.75

122.34 125.43 128.47 132.50 139.39

74.62 77.83 81.42 84.91 91.39

37.05 39.24 41.94 45.89 49.86

45.13 49.05 52.75 56.70 63.35

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

125.80 133.58 143.91 152.77 161.25

165.50 174.36 188.32 201.04 222.43

179.17 194.39 205.35 219.11 233.36

128.55 137.66 150.22 161.58 172.40

137.24 144.36 158.20 165.54 174.43

... ... 182.28 190.08 200.31

... ... 123.55 128.41 134.46

195.30 204.61 218.95 230.14 241.24

112.36 117.57 122.67 129.22 137.94

145.04 151.23 159.75 167.56 176.85

97.34 103.56 110.89 117.88 126.44

53.40 56.81 60.29 63.21 68.09

69.75 76.61 84.13 91.05 100.01

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

170.28 182.67 195.30 210.15 225.35

248.22 273.60 299.49 334.06 366.54

250.18 267.44 279.72 302.50 326.63

186.05 204.11 223.67 244.42 264.11

182.73 192.75 204.12 217.16 231.87

213.10 224.83 239.90 259.11 279.10

140.76 147.37 154.85 163.50 173.02

253.27 270.48 288.51 306.91 324.28

147.70 155.66 165.80 177.97 190.63

185.68 195.44 206.47 218.67 230.82

134.97 143.55 153.40 163.76 175.17

72.58 77.24 83.18 90.03 97.00

108.50 117.94 128.26 139.11 150.48

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

240.77 261.54 272.74 285.83 297.65

402.75 446.04 469.22 489.05 514.68

351.38 382.98 410.69 427.14 441.59

283.86 312.83 325.20 348.87 368.34

246.40 263.50 273.69 284.76 293.22

297.98 322.09 340.95 359.68 373.83

182.15 194.27 200.98 208.56 212.67

343.76 370.62 385.21 404.72 420.90

209.52 228.24 245.52 262.79 276.93

247.65 267.54 283.86 299.28 308.01

190.35 208.33 224.70 237.22 245.44

105.03 114.59 121.14 127.57 130.03

166.65 185.13 201.63 214.83 223.39

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

304.68 309.52 316.81 326.28 338.10

529.40 529.30 529.40 539.09 569.33

448.85 451.77 464.13 478.26 497.13

380.70 390.31 399.59 412.05 423.32

295.84 298.03 304.17 309.27 319.75

383.34 389.71 397.32 412.34 427.01

213.10 214.83 217.62 223.41 229.02

431.07 439.71 451.14 455.94 468.94

287.72 302.16 314.28 322.89 339.62

317.38 327.57 337.86 349.52 365.60

254.56 264.00 274.24 286.72 302.72

131.47 132.83 135.97 141.23 146.68

232.88 242.80 252.23 265.83 282.28

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

349.29 358.06 367.83 378.40 390.73

602.54 625.42 629.02 634.77 653.14

513.43 520.41 525.13 539.81 558.53

436.16 449.73 464.43 480.80 502.12

331.55 339.19 348.68 359.33 370.38

444.48 459.27 470.51 484.46 501.17

235.62 240.15 249.63 256.89 265.77

479.50 495.20 512.01 535.25 551.28

354.65 369.57 386.01 403.02 419.20

380.61 391.09 400.64 406.20 414.16

319.27 334.55 348.29 359.08 368.14

152.47 155.16 159.54 163.45 168.00

297.91 306.91 315.08 322.69 332.44

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

399.53 412.74 431.25 448.04 462.49

670.32 695.07 720.11 727.28 721.74

571.57 588.48 609.48 629.75 655.11

509.26 526.55 548.22 557.12 573.17

378.79 390.64 407.57 423.30 434.31

515.14 533.29 559.39 582.21 602.77

272.56 282.76 295.97 310.34 321.63

564.98 592.68 622.40 646.52 675.32

436.12 451.49 472.37 500.95 517.57

426.44 442.81 465.51 490.00 510.99

377.73 388.27 404.65 418.82 431.35

171.43 176.48 185.81 195.82 202.87

342.36 352.62 368.63 384.25 398.77

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

480.41 493.20 506.07 517.30 528.56

734.92 757.92 741.97 765.94 804.03

685.78 695.89 711.82 726.83 735.70

590.65 595.19 618.75 635.99 658.53

449.88 459.53 471.27 481.14 488.58

631.40 643.45 644.38 657.29 666.93

333.38 346.16 360.81 367.15 371.15

700.89 731.11 738.17 760.81 777.42

537.37 558.02 575.51 609.08 622.99

535.07 557.84 574.66 587.02 596.96

449.29 473.39 492.74 505.69 523.83

211.79 215.19 221.26 224.30 228.63

413.41 428.64 439.76 434.41 433.04

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

523.22 524.24 523.70 525.05 527.96 525.50

793.43 791.15 796.04 797.84 796.48 797.22

732.29 734.21 739.19 733.44 734.98 729.22

653.54 655.18 654.81 655.66 659.28 656.08

485.18 487.98 485.86 487.87 488.54 484.39

664.01 666.14 665.38 668.42 665.28 664.02

368.95 369.87 368.98 369.91 370.83 366.93

768.47 772.77 770.29 773.55 777.91 776.72

619.75 615.93 617.70 621.22 625.43 620.90

589.25 592.70 589.93 592.69 595.08 592.62

514.19 515.81 517.45 519.37 521.32 523.26

226.93 228.85 227.96 227.70 227.96 227.70

430.42 431.36 433.53 432.91 433.85 431.67

July .............................. August .......................... September ................... October ........................ November .................... December ....................

529.09 530.44 533.03 534.38 533.13 534.15

799.14 801.42 803.67 810.88 819.90 834.00

735.74 733.43 738.04 738.79 739.57 740.74

659.33 663.40 664.63 662.19 659.75 661.77

488.64 490.78 492.58 493.58 492.45 494.59

669.44 666.91 670.19 670.31 671.06 671.91

370.26 372.39 374.53 374.53 373.32 376.07

777.55 783.33 784.81 783.72 781.20 789.88

624.78 623.74 626.22 632.25 628.34 632.25

597.82 603.34 608.64 604.71 603.97 605.00

529.42 527.80 529.10 530.08 529.42 532.03

227.58 228.10 229.12 231.04 230.91 231.56

433.38 434.00 435.55 435.07 436.31 435.20

. . . = Not available.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

NOTES AND DEFINITIONS General note on employment data This chapter includes two different data sets measuring employment. Both are compiled and published by the Bureau of Labor Statistics (BLS), but the two sets contain a number of different characteristics. Users should be aware of these dissimilarities and consequent differences in the appropriate uses and interpretations of data from the two systems. These differences are discussed below; they are also discussed at the front of this book, in the “Special Notes” and in the BLS article entitled “Employment from the BLS Household and Payroll Surveys: Summary of Recent Trends.” One set of employment estimates comes from the Current Population Survey (CPS), a large sample survey of U.S. households. The numbers in the sample are blown up to match the latest estimates of the total U.S. population. These are the most comprehensive estimates in their scope—that is, in the universe that they are designed to measure. They represent all civilian workers, including the following groups that are excluded by definition from the other set of estimates: farm workers, household workers (domestic servants), nonagricultural self-employed workers, and nonagricultural unpaid family workers. However, CPS data are characterized by periodic discontinuities, which occur when new benchmarks for Census measures of the total population are introduced. These updates take place in a single month, usually January, and the official data for previous months are typically not modified to provide a smooth transition. Therefore, shorter-term comparisons (for a year or two or for a business cycle phase) will be misleading if such a discontinuity is included in the period. For example, the current estimates of population, labor force, employment, and employment in numbers of persons from January 2005 and subsequent months are not directly comparable with the data for 2004. Furthermore, there are similar but larger “breaks” between December 2003 and January 2004, and between December 1999 and January 2000. Such discontinuities occur throughout the history of the series. The CPS is a count of persons employed, rather than a count of jobs. A person appears in these data only once, no matter how many jobs he or she may hold. The CPS count is limited to persons 16 years or over. The second set of employment estimates—the payroll survey—comes from a very large sample survey of employers, the Current Employment Statistics (CES) survey. It is benchmarked annually to a survey of all employers. Benchmark data are introduced with a smooth adjustment back to the previous benchmark, thus preserving the continuity of the series and making it more appropriate for measurement of employment change over a year two, or a business cycle, or other short to medium-length periods. The scope of the survey is

243

wage and salary workers on nonfarm payrolls, and it is a count of jobs: a person with more than one job is counted as employed in each job. Workers are not classified by age; as a result, there may be some persons younger than 16 years old in the job count. Persons with a job but not at work (that is, absent because of bad weather, work stoppages, personal reasons, and so forth) are included in the household survey; however, they are excluded from the payroll survey if on leave without pay for the entire payroll period. In addition to the differences in definitions and scope between the two series, there are differences in sample design, collection methodology, and the sampling variability inherent in the surveys. The payroll survey provides the most reliable and detailed information on the breakdown of employment by industry—for example, the data shown in Table 16-1. The CPS employment estimates provide the best information on the breakdown of employment by demographic characteristics, such as sex, age, race, and Hispanic origin; by education levels; and by occupation. A few of these breakdowns are shown in Business Statistics. Many more breakdowns, with richer detail, can be found in Bernan’s Handbook of U.S. Labor Statistics. TABLES 10-1 THROUGH 10-5 AND 20-3 LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

Labor force, employment, and unemployment data are derived from the Current Population Survey (CPS), a sample survey of households conducted each month by the Bureau of the Census for the Bureau of Labor Statistics. The data pertain to the U.S. civilian noninstitutional population 16 years of age and over. Due to changes in questionnaire design and survey methodology, data for 1994 and subsequent years are not fully comparable with data for 1993 and earlier years. Additionally, discontinuities in the reported numbers of persons in the population, employment, unemployment, and labor force are introduced whenever periodic updates are made to U.S. population estimates. Population controls based on Census 2000 were introduced beginning with the data for January 2000. These data are therefore not comparable with data for December 1999 and earlier. Data for 1990 through 1999 incorporate 1990 census-based population controls and are not comparable with the years preceding. An additional large population adjustment was introduced in January 2004, making the data from that time forward not comparable with data for December 2003 and earlier; another, smaller adjustment was introduced in January

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

2005. Other discontinuities have been introduced in various earlier years, usually with January data. See “Notes on the data” below for additional information. For the most part, these population adjustments distort comparisons involving the numbers of persons in the population, labor force, and employment. They generally have negligible effects on the percentages that comprise the most important features of the CPS—the unemployment rates, the labor force participation rates, and the employment/population ratios. Beginning with the data for January 2000, data classified by industry and occupation use the 2002 NAICS (see Chapter 14) and the 2000 Standard Occupational Classification System. This creates breaks in the time series between December 1999 and January 2000 for occupational and industry data at all levels of aggregation. Since the recent history is so short, most industry and occupation data have been dropped from this volume in favor of other important and economically meaningful data for which a longer history can be supplied. However, detailed employment data by occupation and industry can be found in Bernan Press’s Handbook of U.S. Labor Statistics. Race and ethnic origin Data for two broad racial categories are available beginning in 1954: White and Black and other. The latter includes Asians and all other “nonwhite” races. Data for Blacks only are available beginning with 1972; this category is now labeled Black or African American. Data for Asians are shown beginning with 2000. Persons in the remaining race categories—American Indian or Alaska Native, Native Hawaiian or Other Pacific Islander, and persons who selected more than one race category beginning in 2003 (see below)—are included in the estimates of total employment and unemployment but are not shown separately because their numbers are too small to yield quality estimates. Hispanic or Latino ethnicity, previously labeled “Hispanic origin,” is not a racial category and is established in a survey question separate from the question about race. Hispanics may be of any race. In January 2003, changes were introduced that affected classification by race and Hispanic origin. These changes caused discontinuities in ethnic group data between December 2002 and January 2003. • Individuals in the sample are now asked whether they are of Hispanic ethnicity before being asked about their race. Prior to 2003, individuals were asked their ethnic origin after they were asked about their race. Furthermore, they are now asked directly if they are Spanish, Hispanic, or Latino. Previously, they were identified based on their or their ancestors’ country of origin.

• Individuals in the sample are now allowed to choose more than one race category. Before 2003, they were required to select a single primary race. This change had no impact on the size of the overall civilian noninstitutional population and labor force. It did reduce the population and labor force levels of Whites and of Blacks beginning in January 2003, as individuals who reported more than one race are now excluded from those groups. BLS estimates, based on a special survey, that these changes reduced the population and labor force levels for Whites by about 950,000 and 730,000 persons, respectively, and for Blacks by about 320,000 and 240,000 persons, respectively, while having little or no impact on either of their unemployment rates. The changes did not affect the size of the Hispanic population or labor force, but they did cause an increase of about half a percentage point in the Hispanic unemployment rate. Definitions The employment status of the civilian population is surveyed each month with respect to a specific week in midmonth—not for the entire month. This is known as the “reference week”; it will be referred to frequently in the definitions that follow. For a precise definition and explanation of the reference week, see “Notes on the data” following these definitions. The civilian noninstitutional population comprises all civilians 16 years of age and older who are not inmates of penal or mental institutions, sanitariums, or homes for the aged, infirm, or needy. Civilian employment includes those civilians who (1) worked for pay or profit at any time during the week that includes the 12th day of the month (the reference week), or who worked unpaid for 15 hours or more in a familyoperated enterprise; or (2) were temporarily absent from regular jobs because of vacation, illness, industrial dispute, bad weather, or similar reasons. Each employed person is counted only once; those who hold more than one job are counted in the job at which they worked the greatest number of hours during the survey week. Unemployed persons are all civilians who were not employed (according to the above definition) during the reference week, but who were available for work— except for temporary illness—and who had made specific efforts to find employment sometime during the prior four weeks. Persons who did not look for work because they were on layoff are also counted as unemployed. The civilian labor force comprises all civilians classified as employed or unemployed. Civilians 16 years of age and over in the noninstitutional population, who are not classified as employed or unemployed, are defined as not in the labor force. This group includes those engaged in own-home housework, in

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

school, unable to work because of long-term illness, retirement, age, seasonal workers for whom the reference week fell in an “off” season (not reported as unemployed), persons who became discouraged and gave up the search for work, and the voluntarily idle. Also included are those doing only incidental work (less than 15 hours) in a family business during the reference week. Persons not in the labor force who currently want a job consists of persons who are not employed; are not counted as unemployed under the criteria given above; but who did want a job at the time of the survey. The civilian labor force participation rate represents the percentage of the civilian noninstitutional population (age 16 and over) that is in the civilian labor force. The employment to population ratio represents the percent of the civilian noninstitutional population (age 16 and over) that is employed. (This is called a “ratio,” although it is traditionally expressed as a percent.) An analysis is shown of employment by class of worker, including a breakdown of total employment into agricultural and nonagricultural industries. Employment in nonagricultural industries is allocated among wage and salary workers, the self-employed, and unpaid family workers. Wage and salary workers receive wages, salaries, commissions, tips, and/or pay in kind. This category includes owners of self-owned incorporated businesses. Self-employed workers are those who work for profit or for fees in their own business, profession, trade, or farm. This category includes only the unincorporated; those whose businesses are incorporated are considered wage and salary workers, since they are paid employees of a corporation, even if they are the corporation’s president and sole employee. Wage and salary employment is comprised of government and private industry workers. Domestic workers and other employees of private households, who are not included in the payroll employment series, are shown separately from all other private industries. The series for government and other private industries wage and salary workers are the closest in scope to similar categories in the payroll employment series. Multiple jobholders are employed persons who, during the reference week, either had two or more jobs as a wage and salary worker, were self-employed and also held a wage and salary job, or worked as an unpaid family worker and also held a wage and salary job. Excluded are self-employed persons with multiple businesses and persons with multiple jobs as unpaid family workers. Multiple jobholders are counted in the job at which they worked the greatest number of hours during the reference week.

245

Employed and at work part time excludes employed persons who were absent from their jobs during the entire reference week for reasons such as vacation, illness, or industrial dispute. At work part time for economic reasons (“involuntary” part time) refers to individuals who worked 1 to 34 hours during the reference week because of slack work, unfavorable business conditions, an inability to find full-time work, or seasonal declines in demand. To be included in this category, they must also indicate that they want and are available for full-time work. At work part time for noneconomic reasons (“voluntary” part time) refers to persons who usually work part time and were at work for 1 to 34 hours during the reference week for reasons such as illness, other medical limitations, family obligations, education, retirement, Social Security limits on earnings, or working in an industry where the workweek is less than 35 hours. It also includes those who gave an economic reason but were not available for, or did not want, full time work. Part time for noneconomic reasons excludes persons who usually work full time, but who worked only 1 to 34 hours during the reference week for reasons such as holidays, illness, and bad weather. The long-term unemployed are persons currently unemployed (searching or on layoff) who have been unemployed for 15 consecutive weeks or longer. If a person ceases to look for work for two weeks or more, or becomes temporarily employed, the continuity of longterm unemployment is broken. If he or she starts searching for work or is laid off again, the monthly CPS will record the length of his or her unemployment from the time the search recommenced or since the latest layoff. The civilian unemployment rate is the number of unemployed as a percentage of the civilian labor force. The unemployment rates for groups within the civilian population (such as males 20 years and over) are the number of unemployed in a group as a percent of that group’s labor force. Unemployment rates by reason provides a breakdown of the total unemployment rate. Each unemployed person is classified into one of four groups. Job losers and persons who completed temporary jobs includes persons on temporary layoff, permanent job losers, and persons who completed temporary jobs and began looking for work after those jobs ended. (These three categories are shown separately and without seasonal adjustment on the news release and on the BLS Web site. They are combined, under the title shown here, for the purpose of seasonal adjustment.) Job leavers terminated their employment voluntarily and immediately began looking for work.

246

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Reentrants are persons who previously worked, but were out of the labor force prior to beginning their current job search. New entrants are persons who have never worked. Each of these categories is expressed as a proportion of the entire civilian labor force, so that the sum of the four rates equals the unemployment rate for all civilian workers (except for possible discrepancies due to rounding or separate seasonal adjustment). Median and average weeks unemployed are summary measures of the length of time that persons classified as unemployed have been looking for work. For persons on layoff, the duration represents the number of full weeks of the layoff. The average (mean) number of weeks is computed by aggregating all the weeks of unemployment experienced by all unemployed persons during their current spell of unemployment and dividing by the number of unemployed. The median number of weeks unemployed is the number of weeks of unemployment experienced by the person at the midpoint of the distribution of all unemployed persons, as ranked by duration of unemployment. The augmented unemployment rate is a broader measure of potential labor availability, based on BLS data and used by the Federal Reserve Board. The numbers shown here as percentages have been calculated by the editor of Business Statistics using the Federal Reserve definition. The numerator (augmented unemployment) is the number of unemployed plus those who are not in the labor force and want a job. The denominator (the augmented labor force) is the number in the civilian labor force plus the number of those who are not in the labor force and want a job. Notes on the data The CPS data are collected monthly by trained interviewers from about 60,000 sample households selected to represent the U.S. civilian noninstitutional population. Sample size was about 60,000 households from mid-1989 to mid-1995, but, for budgetary reasons, was reduced in two stages to about 50,000 households beginning in January 1996. This sample size was maintained from 1996 through 2000. The sample size was increased back to 60,000 households, beginning with the data for July 2001, as part of a plan to meet the requirements of the State Children’s Health Insurance Program legislation. The CPS provides data for other data series in addition to the BLS employment status data, such as household income (see Chapter 3) and health insurance. The employment status data collected are based on the activity or status reported for the calendar week, Sunday through Saturday, that includes the 12th day of the month (the reference week). Households are interviewed in the week following the reference week. Sampled households

are phased in and out of the sample on a rotating basis. Consequently, three-fourths of the sample is the same for any two consecutive months. One-half of the sample is common with the same month a year earlier. Data relating to 1994 and subsequent years are not strictly comparable with data for 1993 and earlier years because of a major redesign of the survey questionnaire and collection methodology. The redesign includes new and revised questions for the classification of individuals as employed or unemployed, the collection of new data on multiple job holding, a change in the definition of discouraged workers, and the implementation of a more completely automated data collection. The 1994 redesign of the CPS was the most extensive since its redesign in 1967. However, there are many other significant periods of year-to-year noncomparability in the labor force data. These typically result from the introduction of new decennial census data into the CPS estimation procedures, expansions of the sample, or other improvements made to increase the reliability of the estimates. Each change introduces a new discontinuity, usually between December of the previous year and January of the newly altered year. The discontinuities are usually minor or negligible with respect to figures expressed as nation-wide percents (such as the unemployment rate or the labor force participation rate), but can be significant with respect to levels (such as labor force and employment in thousands of persons). A list of the dates of the major discontinuities follows, with BLS estimates of their quantitative impact on the national totals. (There are likely to be larger impacts on population subgroups.) The discontinuities occur in January unless otherwise indicated. Note that some of the changes caused adjustments that were carried back to an earlier year. • 1953: 1950 census data introduced. Labor force and employment were raised by about 350,000. • 1960: Alaska and Hawaii included. The labor force was increased by about 300,000, mainly in nonagricultural employment. • 1962: 1960 Census data introduced. Labor force and employment were reduced by about 200,000. • 1972: 1970 Census data introduced. Labor force and employment were raised by about 300,000. • March 1973: Further 1970 census data were introduced, reducing White labor force and employment by about 150,000 and raising Black and Other labor force and employment by approximately 210,000. • July 1975: Adjustment for refugee inflow, with little effect on overall totals. • 1978: Sample expansion and revised estimation procedures increased labor force and employment by about 250,000. • 1982: Change in estimation procedures. To avoid major breaks, many series were reestimated back to 1970. This did not smooth the breaks occurring between 1972 and 1979.

247

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

• 1986, with revisions carried back to 1980: Adjustment for better estimates of immigration, raising labor force by nearly 400,000 and employment by 350,000, mainly among Hispanics. • 1994: 1990 census data introduced and carried back to 1990, when employment was increased by about 880,000, and the unemployment rate was raised by about 0.1 percentage point. • 1997: New estimates of immigration and emigration, raising labor force and employment by about 300,000, again mainly among Hispanics. • 1998: New population estimates and estimation procedures, reducing labor force and employment by around 250,000. • 1999: New information on immigration, raising labor force and employment by around 60,000. • 2000: Census 2000 data introduced, using the 2002 NAICS and the 2000 Standard Occupational Classification System. The labor force was increased by 1.6 million in January 2000, growing to 2.5 million by December 2002. • 2003: Further population estimates introduced (based on an annual population update and therefore not carried back to 2000), raising the labor force by 614,000. • 2004: Population controls updated to reflect revised migration estimates, reducing labor force and employment by around 400,000. • 2005: Updated migration and vital statistics data decreased labor force and employment by around 45,000. For further information on these changes, see the BLS publication Employment and Earnings, February 2005. The monthly labor force, employment, and unemployment data are seasonally adjusted by the X-12 ARIMA method. All seasonally adjusted civilian labor force and unemployment rate statistics, as well as the major employment and unemployment estimates, are computed by aggregating independently adjusted series. For example, the seasonally adjusted level of total unemployment is the sum of the seasonally adjusted levels of unemployment for the four sex-age groups (men and women age 16 to 19 years, and men and women age 20 years and over). Seasonally adjusted employment is the sum of the seasonally adjusted levels of employment for the same four groups. The seasonally adjusted civilian labor force is the sum of all eight components. Finally, the seasonally adjusted civilian worker unemployment rate is calculated by taking total seasonally adjusted unemployment as a percent of the total seasonally adjusted civilian labor force. Seasonal adjustment factors are revised at the end of each year to reflect recent experience. The revisions also affect the preceding four years. See Employment and Earnings, February 2005, for further information. Breakdowns other than the basic age/sex classification described above—such as the employment data by class

of worker in Table 10-2—will not necessarily add to totals, due to independent seasonal adjustment. Data availability Data for each month are usually released on the first Friday of the following month in a press release that also includes data from the establishment survey (Tables 10-7 through 10-12). The press release and data are available on the BLS Web site at . Data are subsequently published in the BLS monthly periodical Employment and Earnings, which contains detailed explanatory notes. Selected data are published each month in the Monthly Labor Review, which also features frequent articles analyzing developments in the labor force, employment, and unemployment. Monthly and annual data are available beginning with 1948. Historical unadjusted data are published in Labor Force Statistics Derived from the Current Population Survey, BLS Bulletin 2307. Historical seasonally-adjusted data are available from BLS upon request. Complete historical data are available on the BLS Web site at . Seasonal adjustment factors are revised each year for the five previous years, with the release of December data in early January. New population controls are introduced with the release of January data in early February. References Historical background on the CPS, as well as a description of the 1994 redesign, are found in three articles in the September 1993 Monthly Labor Review: “Why Is It Necessary to Change?”; “Redesigning the Questionnaire”; and “Evaluating Changes in the Estimates.” The redesign is also described in the February 1994 issue of Employment and Earnings. See also Chapter 1, “Labor Force Data Derived from the Current Population Survey,” BLS Handbook of Methods, Bulletin 2490 (April 1997). TABLE 10-6 INSURED UNEMPLOYMENT SOURCE: U.S. DEPARTMENT TRAINING ADMINISTRATION

OF

LABOR, EMPLOYMENT

AND

Definitions State programs of unemployment insurance cover operations of regular programs under state unemployment insurance laws. In 1976, the law was amended to extend coverage (effective January 1, 1978) to include virtually all state and local government employees, as well as many agricultural and domestic workers. Benefits under state programs are financed by taxes levied by the states on employers.

248

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Federal programs are those directly financed by the federal government. They include unemployment benefits for federal employees (Unemployment Compensation for Federal Employees, or UCFE); newly discharged veterans (Unemployment Compensation for Ex-Service Members, or UCX); railroad retirement; and extended benefits, sometimes enacted by Congress in times of widespread or protracted unemployment. UCX pays benefits, based on service, to veterans who were on active duty and honorably separated. In the case of both UCFE and UCX, state laws determine the benefit amounts, number of weeks benefits can be paid, and other eligibility conditions. An initial claim is the first claim in a benefit year filed by a worker after losing his or her job, or the first claim filed at the beginning of a subsequent period of unemployment in the same benefit year. The initial claim establishes the starting date for any insured unemployment that may result if the claimant is unemployed for one week or longer. Transitional claims (filed by claimants as they start a new benefit year in a continuing spell of unemployment) are excluded; therefore, the data more closely represent instances of new unemployment, and are widely followed as a leading indicator of job market conditions.

basis to the BLS and its cooperating state agencies by a large sample of establishments, which represent all industries except farming. The survey, originally based on a stratified quota sample, has been replaced on a phased-in basis by a stratified probability sample. The new sampling procedure went into effect for wholesale trade in June 2000; for mining, construction, and manufacturing in June 2001; and for retail trade, transportation and public utilities, finance, insurance, and real estate in June 2002. The phase-in was completed in June 2003, upon its extension to the service industries. The phase-in schedule was slightly different for the state and area series. The sample has always been very large. Currently, it includes approximately 160,000 businesses and government agencies covering about 400,000 individual worksites, accounting for about one-third of total benchmark employment of payroll workers. The sample is drawn from a sampling frame of over 8 million unemployment insurance tax accounts.

Monthly averages in this book are averages, calculated by the editor, of the weekly data published by the Employment and Training Administration. Annual data are averages of the monthly data.

These data, formally known as the Current Employment Statistics (CES) survey, often are referred to as the “establishment data” or the “payroll data.” They are also known as the BLS-790 survey. Beginning in 2003, the data by industry conform to the definitions in the new North American Industry Classification System (NAICS). BLS has reconstructed historical time series to conform with NAICS, to ensure that all published series have a NAICS-based history extending back to at least January 1990. NAICS history extends back to January 1939 for total nonfarm and other high-level aggregates. For more detailed series, the starting date for NAICS data varies depending on the scope of the definitional changes between the old Standard Industrial Classification (SIC) and NAICS.

Data availability

Definitions

Data are published in weekly press releases from the Employment and Training Administration. These releases are available on their Web site at under “Labor Market Data.” Historical data on weekly claims are available at the Department of Labor’s Information Technology Support Center at .

An establishment is an economic unit that produces goods or services (such as a factory or store) at a single location and is engaged in one type of economic activity.

Insured unemployment and persons claiming benefits both describe the average number of persons receiving benefits in the indicated month or year. The insured unemployment rate for state programs is the level of insured unemployment as a percentage of employment covered by state programs.

TABLES 10-7, 10-8, 16-1, 16-2, AND 20-4 NONFARM PAYROLL EMPLOYMENT SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

These nonfarm employment data, as well as the hours and earnings data in Tables 10-9 through 10-12, 16-3 through 16-7, and 20-4, are compiled from payroll records. Information is reported monthly on a voluntary

Employment comprises all persons who received pay (including holiday and sick pay) for any part of the payroll period that includes the 12th day of the month. Included are all full-time and part-time workers in nonfarm establishments, including salaried officers of corporations. Persons holding more than one job are counted in each establishment reporting them. Not covered are proprietors, the self-employed, unpaid volunteer or family workers, farm workers, domestic workers in households, and military personnel. Employees of the Central Intelligence Agency, the Defense Intelligence Agency, the National Geospatial-Intelligence Agency, and the National Security Agency are not included.

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

Persons on an establishment payroll who are on paid sick leave (when pay is received directly from the employer), on paid holiday or vacation, or who work during a portion of the pay period despite being unemployed or on strike during the rest of the period, are counted as employed. Not counted as employed are persons who are laid off, on leave without pay, on strike for the entire period, or who are hired but not paid during the period. Intermittent workers are counted if they performed any service during the month. BLS considers regular full-time teachers (private and governmental) to be employed during the summer vacation period, whether or not they are specifically paid during those months. The government division includes federal, state, and local activities such as legislative, executive, and judicial functions, as well as the Postal Service and all governmentowned and government-operated business enterprises, establishments, and institutions (arsenals, navy yards, hospitals, state-owned utilities, and so forth), and government force account construction. As indicated earlier, certain national-security-related agencies are not included. The monthly diffusion index of employment change, currently based on 278 private nonfarm NAICS industries, represents the percentage of those industries in which the seasonally adjusted level of employment in that month was higher than six months earlier, plus one-half of the percent of industries with unchanged employment. For example, the diffusion index reported for September represents the change from March to September. Business Statistics uses the September value to represent the year, since it spans the year’s midpoint. Diffusion indexes measure the dispersion of economic gains and losses, with values below 50 percent associated with recessions. Production or nonsupervisory workers. These data are collected for the private nonfarm sector and cover all production and related workers in mining and manufacturing; construction workers in construction; and nonsupervisory workers in transportation, communication, electric, gas, and sanitary services; wholesale and retail trade; finance, insurance, and real estate; and services. These groups account for about four-fifths of the total employment on private nonagricultural payrolls. Production and related workers include working supervisors and all nonsupervisory workers (including group leaders and trainees) engaged in fabricating, processing, assembling, inspecting, receiving, storing, handling, packing, warehousing, shipping, trucking, hauling, maintenance, repair, janitorial, guard services, product development, auxiliary production for plant’s own use (for example, power plant), record keeping, and other services closely associated with these production operations. Construction workers include the following employees in the construction division of the NAICS: working supervisors, qualified craft workers, mechanics, apprentices,

249

laborers, and the like, who are engaged in new work, alterations, demolition, repair, maintenance, and other tasks, whether working at the site of construction or working in shops or yards at jobs (such as precutting and preassembling) ordinarily performed by members of the construction trades. Nonsupervisory employees include employees (not above the working supervisory level) such as office and clerical workers, repairers, salespersons, operators, drivers, physicians, lawyers, accountants, nurses, social workers, research aides, teachers, drafters, photographers, beauticians, musicians, restaurant workers, custodial workers, attendants, line installers and repairers, laborers, janitors, guards, and other employees at similar occupational levels whose services are closely associated with those of the employees listed. Notes on the data Benchmark adjustments. The establishment survey data are adjusted annually to comprehensive counts of employment, called “benchmarks.” Benchmark information on employment by industry is compiled by state agencies from reports of establishments covered under state unemployment insurance laws, in an annual compilation of administrative data known as the ES-202. These tabulations cover about 97 percent of all employees on nonfarm payrolls. Benchmark data for the residual are obtained from alternate sources, primarily from the Railroad Retirement Board records and the Census Bureau’s County Business Patterns. The latest benchmark adjustment, which is incorporated into the data in this volume, raised the not seasonally adjusted employment level in March 2004 by 203,000 jobs above the previous estimate, a revision of 0.16 percent. The estimates for the benchmark month are compared with new benchmark levels, industry by industry. If revisions are necessary, the monthly series of estimates between benchmark periods are adjusted by graduated amounts between the new benchmark and the preceding one (“wedged-back”), and the new benchmark level for each industry is then carried forward month by month based on the sample. More specifically, the month-to-month changes for each estimation cell are based on changes in a matched sample for that cell, plus an estimate of net business births and deaths. The matched sample for each pair of months consists of the establishments that have reported data for both months (which automatically excludes establishments that have gone out of business by the second month). Since new businesses are not immediately incorporated in the sample, a model-based estimate of net births and deaths in that estimating cell is added. The model-based estimate is based on past benchmark revisions.

250

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Not seasonally adjusted data for all months since the last benchmark to which the series has been adjusted are subject to revision. Seasonal adjustment. The seasonal movements that recur periodically—such as warm and cold weather, holidays, and vacations—are generally the largest single component of month-to-month changes in employment. After adjusting the data to remove such seasonal variation, the basic trends are more evident. BLS uses X-12 ARIMA software to produce the seasonal factors and perform concurrent seasonal adjustment. New factors are developed each month using the most current data. For many series, a special procedure called REGARIMA is also used to adjust for regular, predictable events not always associated with the same calendar month, including the length of the interval (four or five weeks) between the survey weeks, the presence or absence of religious holidays in the April survey reference period, the occasional occurrence of Labor Day in the September reference period, and variations in local government employment due to the presence or absence of poll workers. Seasonal adjustment factors are directly applied to the component levels. Seasonally adjusted totals for employment series are then obtained by aggregating the seasonally adjusted components directly, while hours and earnings series represent weighted averages of the seasonally adjusted component series. Seasonally adjusted data are not published for a small number of series characterized by small seasonal components relative to their trend and/or irregular components. However, these series are used in aggregating to broader seasonally adjusted levels. Revisions of the seasonally adjusted data, usually for the most recent five-year period, are made once a year coincident with the benchmark revisions. This means that these revisions typically extend back farther than the benchmark revisions. Data availability Employment data by industry division are available beginning with 1919. Data for each month usually are released on the first Friday of the following month in a press release that also contains data from the household survey (Tables 10-1 through 10-5). Data are subsequently published in the BLS monthly periodical Employment and Earnings, which features detailed explanatory notes. Selected data are published each month in the Monthly Labor Review, which contains frequent articles analyzing developments in the labor force, employment, and unemployment. Press releases and complete historical data are available on the BLS Web site at . Benchmark revisions and revised seasonally adjusted data for recent years are made each year with the release of January data in early February. Before 2004, the benchmark revisions were not made until June; the accel-

eration is due to earlier availability of the benchmark UI (ES-202) data. References The extensive changes incorporated in June 2003 are described in “Recent Changes in the National Current Employment Statistics Survey,” Monthly Labor Review, June 2003, and in the “Explanatory Notes” in any subsequent issue of Employment and Earnings. The revisions made with the January 2005 data are described in “BLS National Establishment Estimates Revised to Incorporate March 2004 Benchmarks,” Employment and Earnings, February 2005. Descriptive material is available on the BLS Web site. Also see Chapter 2 “Employment, Hours, and Earnings from the Establishment Survey,” BLS Handbook of Methods, Bulletin 2490 (April 1997). TABLES 10-9, 10-10, 16-3, 16-6, AND 20-4 AVERAGE HOURS PER WEEK; AGGREGATE EMPLOYEE HOURS SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

See the notes and definitions to Tables 10-7 and 10-8 for an overall description of the “establishment” or “payroll” survey that is the source of hours data. Definitions Average weekly hours represents the average hours paid for per production or nonsupervisory worker during the pay period that includes the 12th of the month. Included are hours paid for holidays and vacations, as well as for sick leave when pay is received directly from the firm. Average weekly hours are different from standard or scheduled hours. Such factors as unpaid absenteeism, labor turnover, part-time work, and work stoppages can cause average weekly hours to be lower than scheduled hours of work for an establishment. Average weekly hours pertain to jobs, not to persons; thus, a person with a half-time job in two different establishments is represented in this series as two jobs that have 20-hour workweeks, not as one person with a 40hour week. Overtime hours represent the portion of average weekly hours in excess of regular hours and for which overtime premiums were paid. Weekend and holiday hours are included only if overtime premiums were paid. Hours for which only shift differential, hazard, incentive, or other similar types of premiums were paid are excluded. Production or nonsupervisory workers. See the notes and definitions to Tables 10-7 and 10-8. Aggregate hours. These provide a partial measure, in index-number form, of labor input to the industry. Data

CHAPTER 10: EMPLOYMENT, HOURS, AND EARNINGS

pertain to production and nonsupervisory workers in nonfarm establishments. The indexes are obtained by multiplying seasonally adjusted production or nonsupervisory worker employment by seasonally adjusted average weekly hours; dividing the resulting series by their monthly averages for the 2002 period; and multiplying the results by 100, so that the annual average for 2002 equals 100. For total private, goods-producing, serviceproducing, and major industry divisions, the indexes are obtained by summing the seasonally adjusted aggregate weekly employee hours for the component industries, dividing by the monthly average for the 2002 period, and multiplying by 100. Notes on the data Benchmark adjustments. Independent benchmarks are not available for the hours and earnings series. At the time of the annual adjustment of the employment series to new benchmarks, the levels of hours and earnings may be affected by the revised employment weights (which are used in computing the industry averages for hours and earnings), as well as by the changes in seasonal adjustment factors introduced with the benchmark revision. Method of computing industry series. “Average weekly hours” for individual industries are computed by dividing production or nonsupervisory worker hours (reported by establishments classified in each industry) by the number of production or nonsupervisory workers reported for the same establishments. Estimates for divisions and major industry groups are averages (weighted by employment) of the figures for component industries. Seasonal adjustment. Hours and earnings series are seasonally adjusted by applying factors directly to the corresponding unadjusted series. Data for some industries are not seasonally adjusted because the seasonal component is small relative to the trend-cycle and/or irregular components. Consequently, they cannot be separated with sufficient precision. Data availability See data availability for Tables 10-7 and 10-8, above. References See references for Tables 10-7 and 10-8, above. TABLES 10-11, 10-12, 16-4, 16-5, AND 20-4 HOURLY AND WEEKLY EARNINGS SOURCE: U.S. DEPARTMENT STATISTICS (BLS)

OF

LABOR, BUREAU

OF

LABOR

See the notes and definitions to Tables 10-7 and 10-8 for an overall description of the “establishment” or “payroll” survey that is the source of these earnings data.

251

Definitions Earnings are the payments that production or nonsupervisory workers receive during the survey period (before deductions for taxes and other items), including premium pay for overtime or late-shift work, but excluding irregular bonuses, tips, and other special payments. Production or nonsupervisory workers. See the notes and definitions to Tables 10-7 and 10-8. Notes on the data The hours and earnings series are based on reports of gross payroll and corresponding paid hours for full- and part-time production and related workers, construction workers, or nonsupervisory workers who received pay for any part of the pay period that included the 12th of the month. Total payrolls are before deductions, such as for the employee share of old-age and unemployment insurance, group insurance, withholding taxes, bonds, and union dues. The payroll figures also include pay for overtime, holidays, vacations, and sick leave (paid directly by the employer for the period reported). Excluded from the payroll figures are fringe benefits (health and other types of insurance and contributions to retirement, paid by the employer, and the employer share of payroll taxes); bonuses (unless earned and paid regularly each pay period); other pay not earned in the pay period reported (retroactive pay); tips; and the value of free rent, fuel, meals, or other payment in kind. The exclusion of tips is particularly significant for hotels, motels, and eating and drinking places. Average hourly earnings data reflect not only changes in basic hourly and incentive wage rates but also such variable factors as premium pay for overtime and late-shift work, and changes in output of workers paid on an incentive basis. Shifts in the volume of employment between relatively high-paid and low-paid work also affect the general average of hourly earnings. Averages of hourly earnings should not be confused with wage rates, which represent the rates stipulated for a given unit of work or time, while earnings refer to the actual return to the worker for a stated period of time. The earnings series do not represent total labor cost to the employer because of the exclusion of irregular bonuses, retroactive items, the cost of employer-provided benefits, payroll taxes paid by employers, and earnings for those employees not covered under the production-worker or nonsupervisory-worker definition. Additionally, average weekly earnings are not the amounts available to workers for spending, since they do not reflect such deductions as those for income and social security taxes.

252

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Method of computing industry series. Average hourly earnings are obtained by dividing the reported total production or nonsupervisory worker payroll by the total production or nonsupervisory worker hours. Estimates for both hours and hourly earnings for nonfarm divisions and major industry groups are employment-weighted averages of the figures for component industries. Average weekly earnings are computed by multiplying average hourly earnings by average weekly hours. In addition to the factors mentioned above, which exert varying influences upon average hourly earnings, average weekly earnings are affected by changes in the length of the workweek, part-time work, work stoppages, labor turnover, and absenteeism. Persistent long-term increases in the proportion of part-time workers in retail trade and many of the service industries have reduced average workweeks and have similarly affected the average weekly earnings series. Average weekly earnings are per job, not per person; a person with two half-time jobs will be reflected as two jobs with low weekly earnings rather than one person with the total earnings from his or her two jobs.

Benchmark adjustments. Independent benchmarks are not available for the hours and earnings series. At the time of the annual adjustment of the employment series to new benchmarks, the levels of hours and earnings may be affected by the revised employment weights (which are used in computing the industry averages for hours and earnings), as well as by the changes in seasonal adjustment factors also introduced with the benchmark revision. Seasonal adjustment. Hours and earnings series are seasonally adjusted by applying factors directly to the corresponding unadjusted series; seasonally adjusted average weekly earnings are the product of seasonally adjusted hourly earnings and weekly hours. Data availability See data availability for Tables 10-7 and 10-8 above. References See references for Tables 10-7 and 10-8 above.

CHAPTER 11: ENERGY

20

150

15

125

10

100

1949

1954

1959

1964

1969

1974

1979

1984

1989

1994

1999

1957 = 100

Thousand Btu

Figure 11-1. Energy Consumption and Prices, 1949–2004

2004

Year Thousand Btu of energy per chained (2000) dollar of GDP, left scale Relative price of energy to consumers, 1957 = 100, right scale

• Throughout the postwar period, there has been a long-term downward trend in the relationship of energy use to real gross domestic product (GDP). This may be occurring because the relative share of services and high-tech goods in the composition of output is rising at the expense of energy-intensive production processes, such as primary metals and chemicals manufacturing. Still, the trend toward less energy per dollar of GDP is striking in light of the continued rise in motor vehicle use, air conditioning, air travel, and other consumer uses of energy. (Table 11-2) • As the graph suggests, changes in energy prices relative to other prices provide only a partial explanation of the decline in energy use, which can also be viewed as an increase in energy efficiency. The decline in energy use did accelerate as energy prices rose from 1973 through 1981. Relative energy prices declined after 1981, and, beginning in the mid-1980s, a slower decline became evident in energy use. Some signs of renewed energy efficiency gains appeared in 2003 and 2004 as energy prices shot up. (Tables 11-2 and 8-1) • Between 1973 and 2004, the greatest savings in energy relative to GDP were achieved in industrial use, which rose only 3 percent between those years. At the same time, real GDP increased by 148 percent and industrial production rose 123 percent. Relative economies were also achieved in aggregate use of energy for residential and commercial purposes, which rose 58 percent, and for transportation, which increased by 51 percent. (Table 11-1) • Most of the decline in energy relative to GDP in recent years has been in the use of petroleum and natural gas. On the other hand, oil and gas use was rising relative to GDP before 1973, while the use of other energy sources was declining. (Table 11-2) • Imports supplied 33 percent of total U.S. energy consumption in 2004, compared with 19 percent in 1973 and only 5 percent in 1949. Domestic production of both crude oil and natural gas increased up until the early 1970s. Both have declined since then, with the greater decline in crude oil. Domestic coal production and nuclear energy generation have increased, although coal production has not surpassed the peak reached in 1998. Geothermal generation has increased but remains very small. (Table 11-1)

253

254

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 11-1. Energy Supply and Consumption (Quadrillion Btu.) Production, by source Year and month

Imports

Exports Total 1

Coal

Natural gas

Crude oil

Natural gas plant liquids

Consumption, by end-use sector Nuclear electric power

Hydroelectric power

Geothermal energy

Total

Residential and commercial

Industrial

Transportation

1949 .........................

1.448

1.592

31.722

11.974

5.377

10.683

0.714

0.000

1.425

...

31.982

9.275

14.717

7.990

1950 1951 1952 1953 1954

......................... ......................... ......................... ......................... .........................

1.913 1.892 2.146 2.313 2.348

1.465 2.622 2.365 1.866 1.696

35.540 38.751 37.917 38.181 36.518

14.060 14.419 12.734 12.278 10.542

6.233 7.416 7.964 8.339 8.682

11.447 13.037 13.281 13.671 13.427

0.823 0.920 0.998 1.062 1.113

0.000 0.000 0.000 0.000 0.000

1.415 1.424 1.466 1.413 1.360

... ... ... ... ...

34.616 36.974 36.748 37.664 36.639

9.890 10.263 10.443 10.340 10.590

16.233 17.669 17.302 18.201 17.146

8.493 9.042 9.003 9.123 8.903

1955 1956 1957 1958 1959

......................... ......................... ......................... ......................... .........................

2.790 3.207 3.529 3.884 4.076

2.286 2.945 3.439 2.050 1.534

40.148 42.622 42.983 40.133 41.949

12.370 13.306 13.061 10.783 10.778

9.345 10.002 10.605 10.942 11.952

14.410 15.180 15.178 14.204 14.933

1.240 1.283 1.289 1.287 1.383

0.000 0.000 0.000 0.002 0.002

1.360 1.435 1.516 1.592 1.548

... ... ... ... ...

40.208 41.754 41.787 41.645 43.466

11.185 11.698 11.686 12.333 12.800

19.472 20.196 20.205 19.307 20.316

9.551 9.860 9.897 10.005 10.349

1960 1961 1962 1963 1964

......................... ......................... ......................... ......................... .........................

4.188 4.437 4.994 5.087 5.447

1.477 1.377 1.473 1.835 1.815

42.804 43.280 44.877 47.174 49.056

10.817 10.447 10.901 11.849 12.524

12.656 13.105 13.717 14.513 15.298

14.935 15.206 15.522 15.966 16.164

1.461 1.549 1.593 1.709 1.803

0.006 0.020 0.026 0.038 0.040

1.608 1.656 1.816 1.771 1.886

0.001 0.002 0.002 0.004 0.005

45.087 45.739 47.828 49.646 51.817

13.667 14.032 14.839 15.261 15.730

20.823 20.937 21.768 22.730 24.090

10.597 10.770 11.221 11.655 11.998

1965 1966 1967 1968 1969

......................... ......................... ......................... ......................... .........................

5.892 6.146 6.159 6.905 7.676

1.829 1.829 2.115 1.998 2.126

50.676 53.534 56.379 58.225 60.541

13.055 13.468 13.825 13.609 13.863

15.775 17.011 17.943 19.068 20.446

16.521 17.561 18.651 19.308 19.556

1.883 1.996 2.177 2.321 2.420

0.043 0.064 0.088 0.142 0.154

2.059 2.062 2.347 2.349 2.648

0.004 0.004 0.007 0.009 0.013

54.017 57.017 58.908 62.419 65.621

16.509 17.517 18.541 19.665 21.000

25.075 26.397 26.616 27.888 29.114

12.434 13.102 13.752 14.866 15.506

1970 1971 1972 1973 1974

......................... ......................... ......................... ......................... .........................

8.342 9.535 11.387 14.613 14.304

2.632 2.151 2.118 2.033 2.203

63.501 62.723 63.920 63.585 62.372

14.607 13.186 14.092 13.992 14.074

21.666 22.280 22.208 22.187 21.210

20.401 20.033 20.041 19.493 18.575

2.512 2.544 2.598 2.569 2.471

0.239 0.413 0.584 0.910 1.272

2.634 2.824 2.864 2.861 3.177

0.011 0.012 0.031 0.043 0.053

67.844 69.289 72.704 75.708 73.991

22.105 22.959 24.036 24.437 24.046

29.641 29.601 30.953 32.653 31.819

16.098 16.729 17.716 18.612 18.119

1975 1976 1977 1978 1979

......................... ......................... ......................... ......................... .........................

14.032 16.760 19.948 19.106 19.460

2.323 2.172 2.052 1.920 2.855

61.357 61.602 62.052 63.137 65.948

14.989 15.654 15.755 14.910 17.540

19.640 19.480 19.565 19.485 20.076

17.729 17.262 17.454 18.434 18.104

2.374 2.327 2.327 2.245 2.286

1.900 2.111 2.702 3.024 2.776

3.155 2.976 2.333 2.937 2.931

0.070 0.078 0.077 0.064 0.084

71.999 76.012 78.000 79.986 80.903

24.308 25.476 25.866 26.637 26.469

29.447 31.429 32.307 32.733 33.962

18.244 19.099 19.820 20.615 20.471

1980 1981 1982 1983 1984

......................... ......................... ......................... ......................... .........................

15.796 13.719 11.861 11.752 12.471

3.695 4.307 4.608 3.693 3.786

67.241 67.007 66.574 64.106 68.832

18.598 18.377 18.639 17.247 19.719

19.908 19.699 18.319 16.593 18.008

18.249 18.146 18.309 18.392 18.848

2.254 2.307 2.191 2.184 2.274

2.739 3.008 3.131 3.203 3.553

2.900 2.758 3.266 3.527 3.386

0.110 0.123 0.105 0.129 0.165

78.289 76.342 73.253 73.101 76.736

26.442 25.990 26.457 26.411 27.239

32.152 30.836 27.704 27.511 29.643

19.696 19.513 19.088 19.176 19.851

1985 1986 1987 1988 1989

......................... ......................... ......................... ......................... .........................

11.781 14.151 15.398 17.296 18.766

4.196 4.021 3.812 4.366 4.661

67.647 67.087 67.608 68.951 69.364

19.325 19.509 20.141 20.738 21.346

16.980 16.541 17.136 17.599 17.847

18.992 18.376 17.675 17.279 16.117

2.241 2.149 2.215 2.260 2.158

4.076 4.380 4.754 5.587 5.602

2.970 3.071 2.635 2.334 2.837

0.198 0.219 0.229 0.217 0.317

76.469 76.782 79.225 82.844 84.957

27.393 27.527 28.184 29.640 30.930

28.958 28.375 29.519 30.818 31.396

20.122 20.877 21.524 22.382 22.622

1990 1991 1992 1993 1994

......................... ......................... ......................... ......................... .........................

18.817 18.335 19.372 21.273 22.390

4.752 5.141 4.937 4.258 4.061

70.729 70.362 69.933 68.260 70.676

22.456 21.594 21.629 20.249 22.111

18.326 18.229 18.375 18.584 19.348

15.571 15.701 15.223 14.494 14.103

2.175 2.306 2.363 2.408 2.391

6.104 6.422 6.479 6.410 6.694

3.046 3.016 2.617 2.892 2.683

0.336 0.346 0.349 0.364 0.338

84.668 84.595 85.949 87.578 89.248

30.181 30.873 30.734 32.037 32.194

31.918 31.527 32.673 32.668 33.557

22.589 22.195 22.542 22.883 23.503

1995 1996 1997 1998 1999

......................... ......................... ......................... ......................... .........................

22.260 23.702 25.215 26.581 27.252

4.511 4.633 4.514 4.299 3.715

71.156 72.472 72.389 72.787 71.652

22.029 22.684 23.211 23.935 23.186

19.082 19.344 19.394 19.613 19.341

13.887 13.723 13.658 13.235 12.451

2.442 2.530 2.495 2.420 2.528

7.075 7.087 6.597 7.068 7.610

3.205 3.590 3.640 3.297 3.268

0.294 0.316 0.325 0.328 0.331

91.221 94.224 94.727 95.146 96.774

33.317 34.803 34.746 35.016 35.981

33.941 34.905 35.167 34.777 34.679

23.960 24.511 24.808 25.357 26.108

2000 2001 2002 2003 2004

......................... ......................... ......................... ......................... .........................

28.973 30.157 29.406 31.115 33.535

4.006 3.770 3.661 4.066 4.433

71.218 71.792 70.933 70.008 70.499

22.623 23.529 22.698 21.970 22.686

19.662 20.205 19.495 19.626 19.492

12.358 12.282 12.163 12.026 11.503

2.611 2.547 2.559 2.346 2.466

7.862 8.033 8.143 7.959 8.232

2.811 2.201 2.675 2.825 2.725

0.317 0.311 0.328 0.339 0.340

98.905 96.378 98.026 98.311 100.315

37.582 37.570 38.502 38.589 38.619

34.616 32.527 32.830 32.608 33.666

26.705 26.276 26.683 27.117 28.021

2003 January ................. February ............... March ................... April ...................... May ....................... June ......................

2.429 2.180 2.585 2.613 2.747 2.661

0.377 0.300 0.316 0.333 0.357 0.351

6.010 5.414 5.925 5.777 5.958 5.831

1.902 1.686 1.827 1.832 1.857 1.814

1.661 1.510 1.709 1.636 1.671 1.618

1.040 0.940 1.046 1.005 1.031 0.992

0.204 0.190 0.200 0.191 0.181 0.177

0.721 0.635 0.625 0.592 0.648 0.669

0.211 0.203 0.248 0.254 0.301 0.293

0.029 0.027 0.029 0.027 0.028 0.029

9.324 8.495 8.424 7.699 7.681 7.647

4.299 3.815 3.466 2.820 2.727 2.775

2.840 2.623 2.710 2.677 2.671 2.602

2.185 2.060 2.252 2.206 2.283 2.268

July ....................... August .................. September ............ October ................. November ............. December .............

2.752 2.731 2.666 2.668 2.458 2.624

0.339 0.335 0.325 0.349 0.338 0.345

5.899 5.944 5.769 5.904 5.588 5.989

1.815 1.836 1.854 1.928 1.727 1.889

1.639 1.671 1.610 1.665 1.592 1.644

0.994 1.006 0.989 1.013 0.968 1.003

0.191 0.197 0.198 0.211 0.206 0.200

0.726 0.719 0.663 0.625 0.621 0.715

0.254 0.235 0.189 0.189 0.202 0.246

0.029 0.029 0.028 0.028 0.027 0.030

8.283 8.409 7.635 7.822 7.886 9.007

3.186 3.224 2.768 2.719 2.943 3.843

2.737 2.756 2.632 2.756 2.751 2.857

2.355 2.424 2.233 2.348 2.193 2.309

2004 January ................. February ............... March ................... April ...................... May ....................... June ......................

2.623 2.561 2.842 2.688 2.875 2.831

0.299 0.312 0.388 0.410 0.390 0.390

6.070 5.617 6.017 5.755 5.841 5.924

1.912 1.771 1.940 1.875 1.782 1.940

1.686 1.566 1.685 1.614 1.651 1.604

1.002 0.935 1.008 0.962 0.998 0.939

0.208 0.194 0.211 0.199 0.206 0.194

0.739 0.669 0.660 0.612 0.678 0.708

0.235 0.213 0.231 0.212 0.242 0.255

0.030 0.028 0.028 0.027 0.028 0.028

9.416 8.787 8.451 7.820 7.989 7.998

4.316 3.855 3.313 2.781 2.780 2.898

2.863 2.725 2.802 2.746 2.849 2.740

2.237 2.207 2.339 2.296 2.359 2.356

July ....................... August .................. September ............ October ................. November ............. December .............

2.939 2.943 2.665 2.872 2.811 2.883

0.372 0.375 0.362 0.351 0.350 0.434

6.012 6.021 5.703 5.769 5.711 6.060

1.886 1.946 1.911 1.891 1.884 1.949

1.658 1.654 1.540 1.610 1.577 1.647

0.981 0.959 0.881 0.927 0.939 0.973

0.209 0.215 0.201 0.210 0.209 0.210

0.751 0.742 0.688 0.653 0.615 0.716

0.235 0.220 0.208 0.193 0.213 0.267

0.029 0.029 0.027 0.029 0.028 0.029

8.408 8.368 7.845 7.980 8.066 9.188

3.169 3.091 2.837 2.761 2.946 3.871

2.796 2.837 2.703 2.807 2.852 2.944

2.437 2.434 2.302 2.413 2.268 2.371

1Includes

categories not shown separately. . . . = Not available.

CHAPTER 11: ENERGY

255

Table 11-2. Energy Consumption per Dollar of Real Gross Domestic Product Energy consumption (quadrillion Btu) Year Petroleum and natural gas

Total

Other energy

Gross domestic product (billions of chained [2000] dollars)

Energy consumption per dollar of GDP (thousand Btu per chained [2000] dollar) Petroleum and natural gas

Total

Other energy

1949 ......................................................

31.982

17.028

14.954

1 634.6

19.57

10.42

9.15

1950 1951 1952 1953 1954

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

34.616 36.974 36.748 37.664 36.639

19.284 21.477 22.505 23.462 24.169

15.332 15.497 14.243 14.202 12.470

1 777.3 1 915.0 1 988.3 2 079.5 2 065.4

19.48 19.31 18.48 18.11 17.74

10.85 11.21 11.32 11.28 11.70

8.63 8.09 7.16 6.83 6.04

1955 1956 1957 1958 1959

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

40.208 41.754 41.787 41.645 43.466

26.253 27.551 28.122 29.190 31.040

13.955 14.203 13.665 12.455 12.426

2 212.8 2 255.8 2 301.1 2 279.2 2 441.3

18.17 18.51 18.16 18.27 17.80

11.86 12.21 12.22 12.81 12.71

6.31 6.30 5.94 5.46 5.09

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

45.087 45.739 47.828 49.646 51.817

32.305 33.143 34.780 36.104 37.589

12.782 12.596 13.048 13.542 14.228

2 501.8 2 560.0 2 715.2 2 834.0 2 998.6

18.02 17.87 17.61 17.52 17.28

12.91 12.95 12.81 12.74 12.54

5.11 4.92 4.81 4.78 4.74

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

54.017 57.017 58.908 62.419 65.621

39.014 41.396 43.228 46.189 49.016

15.003 15.621 15.680 16.230 16.605

3 191.1 3 399.1 3 484.6 3 652.7 3 765.4

16.93 16.77 16.91 17.09 17.43

12.23 12.18 12.41 12.65 13.02

4.70 4.60 4.50 4.44 4.41

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

67.844 69.289 72.704 75.708 73.991

51.315 53.030 55.645 57.352 55.187

16.529 16.259 17.059 18.356 18.804

3 771.9 3 898.6 4 105.0 4 341.5 4 319.6

17.99 17.77 17.71 17.44 17.13

13.60 13.60 13.56 13.21 12.78

4.38 4.17 4.16 4.23 4.35

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

71.999 76.012 78.000 79.986 80.903

52.678 55.520 57.053 57.966 57.789

19.321 20.492 20.947 22.021 23.114

4 311.2 4 540.9 4 750.5 5 015.0 5 173.4

16.70 16.74 16.42 15.95 15.64

12.22 12.23 12.01 11.56 11.17

4.48 4.51 4.41 4.39 4.47

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

78.289 76.342 73.253 73.101 76.736

54.596 51.859 48.736 47.411 49.558

23.693 24.483 24.516 25.690 27.178

5 161.7 5 291.7 5 189.3 5 423.8 5 813.6

15.17 14.43 14.12 13.48 13.20

10.58 9.80 9.39 8.74 8.52

4.59 4.63 4.72 4.74 4.67

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

76.469 76.782 79.225 82.844 84.957

48.756 48.904 50.609 52.774 53.923

27.713 27.878 28.616 30.070 31.034

6 053.7 6 263.6 6 475.1 6 742.7 6 981.4

12.63 12.26 12.24 12.29 12.17

8.05 7.81 7.82 7.83 7.72

4.58 4.45 4.42 4.46 4.45

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

84.704 84.643 85.992 87.619 89.283

53.282 52.994 54.362 55.193 56.512

31.422 31.649 31.630 32.524 32.879

7 112.5 7 100.5 7 336.6 7 532.7 7 835.5

11.91 11.92 11.72 11.63 11.39

7.49 7.46 7.41 7.33 7.21

4.42 4.46 4.31 4.32 4.20

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

91.250 94.256 94.768 95.192 96.836

57.338 58.954 59.594 59.869 60.970

34.028 35.385 35.280 35.440 35.988

8 031.7 8 328.9 8 703.5 9 066.9 9 470.3

11.36 11.32 10.89 10.50 10.23

7.14 7.08 6.85 6.60 6.44

4.24 4.25 4.05 3.91 3.80

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

98.961 96.472 97.877 98.311 100.315

62.320 61.239 62.030 62.116 63.696

36.781 35.379 36.022 36.433 36.918

9 817.0 9 890.7 10 048.8 10 320.6 10 755.7

10.08 9.75 9.74 9.53 9.33

6.35 6.19 6.17 6.02 5.92

3.75 3.58 3.58 3.53 3.43

256

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 11-1 AND 11-2 ENERGY SUPPLY AND CONSUMPTION SOURCES: U.S. DEPARTMENT OF ENERGY, ENERGY INFORMATION ADMINISTRATION; U.S. DEPARTMENT OF COMMERCE, BUREAU OF ECONOMIC ANALYSIS Definitions The British thermal unit (Btu) is a measure used to combine data for different energy sources into a consistent aggregate. It is the amount of energy required to raise the temperature of 1 pound of water 1 degree Fahrenheit when the water is near a temperature of 39.2 degrees Fahrenheit. To illustrate one of the factors used to convert volumes to Btu, conventional motor gasoline has a heat content of 5.253 million Btu per barrel. For further information, see Monthly Energy Review, Appendix A. Notes on the data

consumption per dollar of GDP are from the Bureau of Economic Analysis (see Business Statistics, Table 1-2, and its notes and definitions). Energy Production. Crude oil includes lease condensates. Hydroelectric power includes electrical utility and industrial generation. Energy production components not shown here (the difference between total production and the sum of the categories shown) include energy generated for distribution from wood, waste, alcohol, solar, and wind sources and an allowance for net hydroelectric energy losses related to pumped storage. The sum of domestic energy production and net imports of energy does not equal domestic energy consumption. The difference is attributed to inventory changes; losses and gains in conversion, transportation, and distribution; the addition of blending compounds; shipments of anthracite to U.S. armed forces in Europe; and adjustments to account for discrepancies between reporting systems. References

These data are published in Tables 1.1, 1.2, 1.8, and 2.1 in the Monthly Energy Review. Consumption by end-use sector is based on total, not net, consumption. The gross domestic product (GDP) data used to calculate energy

Energy Information Administration, Monthly Energy Review. Current and historical data are available on the EIA Web site at .

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

Figure 12-1. Federal Funds Rate and 10-Year Treasury Securities Rate, 1962–2004 20 Federal funds rate

Percent

16

10-year Treasury securities rate

12

8

4

0 1962

1967

1972

1977

1982

1987

1992

1997

2004

Year

• Inflation has fallen back to the levels of the early postwar period (see Chapter 8), and as the graph shows, the same has happened with interest rates. (Table 12-9) • Comparisons of interest rates and other financial data over the half-century span are not always straightforward, because financial institutions and instruments have changed. In particular, interest rates were held low until 1952 because the Federal Reserve was pegging Treasury bill and bond rates. Rates before 1953 are therefore not shown in Table 12-9, and are not available for many series. Since then, rates have been free to reflect changing degrees of monetary tightness as well as changing inflation expectations and fluctuating views of the productivity of capital. • In the short-term markets, where Federal Reserve policy governs the price of overnight money, the nominal federal funds rate averaged 1.35 percent in 2004. This rate was even lower than those in years such as 1958, when the economy was slack and inflation expectations were nonexistent. This rate had averaged 16 percent in 1981 because of high inflation and tight monetary policy. Since inflation in recent years has been running around 2 percent, the real federal funds rate was negative from 2002 through 2004. (Table 12-9) • In the longer-term market, the 10-year Treasury rate in 2003 and 2004 was at levels last seen in the early 1960s. (Table 12-9) • Treasury bonds are risk-free, and market rates on these bonds are usually taken as a pure representation of the sum of inflation expectations and the “real” (afterinflation) interest rate. (A market-based value for the real long-term rate is a new feature in Table 12-9.) On the other hand, corporate bond rates include a risk premium. Even the top-rated bonds (Aaa) commanded higher rates in 2004 than in the early postwar period, although far lower than the double-digit rates reached in the early 1980s. (Table 12-9)

257

258

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-1. Money Stock Measures (Billions of dollars, monthly data are averages of daily figures, annual data are for December.) Seasonally adjusted

Not seasonally adjusted

Year and month M1

M2

M3

M1

M2

M3

1959 ......................................................

140.0

297.8

299.7

143.6

300.6

302.4

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

140.7 145.2 147.8 153.3 160.3

312.4 335.5 362.7 393.2 424.7

315.2 340.8 371.3 405.9 442.4

144.5 149.2 151.9 157.5 164.9

315.3 338.5 365.8 396.4 428.3

318.0 343.7 374.0 408.7 445.5

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

167.8 172.0 183.3 197.4 203.9

459.2 480.2 524.8 566.8 587.9

482.1 505.4 557.9 607.2 615.9

172.6 176.9 188.4 202.8 209.4

463.1 483.7 528.0 569.7 590.1

485.5 508.6 560.9 610.0 618.2

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

214.4 228.3 249.2 262.9 274.2

626.5 710.3 802.3 855.5 902.1

677.1 776.0 885.9 985.0 1 069.9

220.1 234.5 256.1 270.2 281.8

627.8 711.2 803.1 856.5 903.5

678.2 776.6 886.2 985.2 1 070.8

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

287.1 306.2 330.9 357.3 381.8

1 016.2 1 152.0 1 270.3 1 366.0 1 473.7

1 170.2 1 310.0 1 470.4 1 644.6 1 808.7

295.3 314.5 340.0 367.9 393.2

1 017.8 1 153.5 1 273.0 1 370.8 1 479.0

1 173.3 1 313.6 1 476.2 1 652.6 1 815.2

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

408.5 436.7 474.8 521.4 551.6

1 599.8 1 755.4 1 910.3 2 126.5 2 310.0

1 995.5 2 254.6 2 460.7 2 697.6 2 990.9

419.5 447.0 485.8 533.3 564.6

1 604.8 1 760.3 1 918.2 2 137.0 2 322.0

2 000.8 2 259.0 2 469.1 2 708.5 3 004.6

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

619.8 724.6 750.2 786.7 792.8

2 495.7 2 732.3 2 831.4 2 994.4 3 158.4

3 208.4 3 499.4 3 686.7 3 929.0 4 077.0

633.3 739.8 765.4 803.1 810.6

2 507.7 2 745.0 2 843.4 3 006.8 3 171.5

3 221.6 3 513.3 3 698.7 3 941.1 4 089.5

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

824.7 897.0 1 025.1 1 129.9 1 150.7

3 278.7 3 379.3 3 432.9 3 484.4 3 497.8

4 154.6 4 209.9 4 222.5 4 285.6 4 369.9

842.7 915.6 1 045.6 1 153.3 1 174.2

3 292.0 3 393.4 3 449.2 3 504.5 3 518.8

4 166.1 4 222.8 4 237.6 4 304.5 4 389.0

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 126.9 1 079.8 1 072.2 1 094.8 1 122.6

3 640.3 3 814.8 4 030.8 4 383.4 4 648.5

4 636.0 4 985.4 5 460.7 6 052.0 6 551.7

1 152.1 1 104.5 1 096.9 1 120.2 1 148.0

3 664.0 3 835.4 4 052.4 4 406.1 4 675.1

4 658.8 5 007.8 5 489.0 6 087.5 6 596.6

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 087.0 1 182.0 1 219.2 1 305.1 1 373.5

4 930.7 5 451.1 5 802.9 6 085.2 6 430.7

7 117.7 8 037.2 8 575.6 8 885.3 9 450.5

1 111.6 1 208.3 1 245.2 1 332.2 1 401.4

4 962.9 5 485.1 5 832.2 6 112.0 6 454.5

7 173.3 8 104.9 8 634.5 8 929.7 9 481.5

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 188.7 1 191.9 1 194.8 1 185.9 1 190.9 1 193.8

5 481.5 5 510.5 5 519.7 5 521.1 5 547.3 5 567.8

8 067.4 8 113.2 8 122.8 8 144.2 8 177.2 8 191.2

1 191.0 1 177.7 1 196.3 1 196.5 1 185.7 1 194.4

5 474.5 5 493.9 5 544.7 5 557.5 5 523.9 5 561.2

8 088.0 8 131.4 8 179.6 8 177.1 8 163.0 8 186.4

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 199.4 1 186.6 1 193.9 1 202.6 1 208.5 1 219.2

5 611.1 5 649.8 5 674.8 5 726.2 5 772.4 5 802.9

8 240.8 8 296.8 8 334.3 8 373.2 8 500.2 8 575.6

1 200.0 1 182.0 1 185.5 1 196.3 1 205.1 1 245.2

5 602.5 5 645.7 5 669.9 5 708.4 5 782.7 5 832.2

8 203.3 8 269.6 8 286.3 8 317.9 8 514.3 8 634.5

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 224.3 1 239.6 1 242.6 1 250.1 1 271.7 1 282.7

5 836.6 5 873.3 5 889.9 5 926.0 5 980.6 6 022.4

8 594.0 8 631.4 8 649.1 8 680.2 8 737.1 8 790.5

1 225.1 1 225.1 1 244.8 1 261.0 1 266.2 1 284.9

5 819.5 5 845.3 5 906.8 5 964.7 5 961.9 6 019.1

8 602.7 8 636.1 8 695.1 8 714.9 8 729.2 8 793.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 286.3 1 295.4 1 295.5 1 296.4 1 297.8 1 305.1

6 067.0 6 112.5 6 094.1 6 086.2 6 081.6 6 085.2

8 882.7 8 913.5 8 909.2 8 904.1 8 885.0 8 885.3

1 287.5 1 291.9 1 286.7 1 288.6 1 293.5 1 332.2

6 062.5 6 120.1 6 091.2 6 071.7 6 095.7 6 112.0

8 851.9 8 903.5 8 872.4 8 852.5 8 895.6 8 929.7

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 303.4 1 321.8 1 334.5 1 334.3 1 338.6 1 345.0

6 098.7 6 139.0 6 178.0 6 215.2 6 273.2 6 284.1

8 942.5 9 006.6 9 081.9 9 144.3 9 233.2 9 270.8

1 302.5 1 306.7 1 337.9 1 345.3 1 333.7 1 348.5

6 070.6 6 101.2 6 180.7 6 252.2 6 263.3 6 287.6

8 933.1 8 996.4 9 110.7 9 180.9 9 238.8 9 283.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 337.4 1 355.0 1 359.1 1 360.2 1 375.8 1 373.5

6 285.7 6 306.5 6 341.2 6 369.3 6 406.5 6 430.7

9 273.2 9 308.5 9 358.8 9 369.9 9 401.4 9 450.5

1 338.8 1 352.5 1 349.8 1 351.3 1 370.9 1 401.4

6 292.7 6 312.6 6 344.5 6 363.2 6 412.5 6 454.5

9 258.9 9 301.8 9 335.7 9 330.3 9 396.4 9 481.5

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

259

Table 12-2. Selected Components of the Money Stock (Billions of dollars, monthly data are averages of daily figures, seasonally adjusted, annual data are for December.) Year and month

Currency

Demand deposits

Other checkable deposits

Repurchase agreements

Money market funds Eurodollars

Retail

Institutional

Savings deposits At banks

At thrifts

Small time deposits At banks

At thrifts

Large time deposits At banks

At thrifts

1959 .....................................

28.8

110.8

0.0

0.0

0.7

0.0

0.0

54.8

91.7

8.9

2.5

1.2

0.0

1960 1961 1962 1963 1964

..................................... ..................................... ..................................... ..................................... .....................................

28.7 29.3 30.3 32.2 33.9

111.6 115.5 117.1 120.6 125.8

0.0 0.0 0.0 0.1 0.1

0.0 0.0 0.0 0.0 0.0

0.8 1.5 1.6 1.9 2.4

0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0

58.3 64.2 71.3 76.8 82.9

100.8 111.3 123.4 137.6 152.4

9.7 11.1 15.5 19.9 22.4

2.8 3.7 4.6 5.7 6.8

2.0 3.9 7.0 10.8 15.2

0.0 0.0 0.0 0.0 0.0

1965 1966 1967 1968 1969

..................................... ..................................... ..................................... ..................................... .....................................

36.0 38.0 40.0 43.0 45.7

131.3 133.4 142.5 153.6 157.3

0.1 0.1 0.1 0.1 0.2

0.0 0.0 0.0 0.0 4.9

1.8 2.2 2.2 2.9 2.7

0.0 0.0 0.0 0.0 0.0

0.0 0.0 0.0 0.0 0.0

92.4 89.9 94.1 96.1 93.8

164.5 163.3 169.6 172.8 169.8

26.7 38.7 50.7 63.5 71.6

7.8 16.3 27.1 37.1 48.8

21.2 23.1 30.9 37.4 20.4

0.0 0.0 0.0 0.0 0.0

1970 1971 1972 1973 1974

..................................... ..................................... ..................................... ..................................... .....................................

48.6 52.0 56.2 60.8 67.0

164.7 175.1 191.6 200.3 205.1

0.1 0.2 0.2 0.3 0.4

3.0 5.2 6.6 12.8 14.5

2.4 2.9 3.8 5.8 8.5

0.0 0.0 0.0 0.1 1.4

0.0 0.0 0.0 0.0 0.2

98.6 112.8 124.8 128.0 136.8

162.3 179.4 196.6 198.7 201.8

79.3 94.7 108.2 116.8 123.1

71.9 95.1 123.5 149.0 164.8

44.4 56.1 70.8 107.4 139.3

0.7 1.5 2.5 3.6 5.4

1975 1976 1977 1978 1979

..................................... ..................................... ..................................... ..................................... .....................................

72.8 79.5 87.4 96.0 104.8

211.3 221.5 236.4 249.5 256.6

0.9 2.7 4.2 8.5 16.8

13.8 24.0 32.2 44.4 48.8

10.0 15.2 21.7 35.1 52.7

2.4 1.8 1.8 5.8 33.9

0.5 0.6 1.0 3.5 10.4

161.2 201.8 218.8 216.5 195.0

227.6 251.4 273.4 265.4 228.8

142.3 155.5 167.5 185.1 235.5

195.5 235.2 278.0 335.8 398.7

123.3 110.3 135.0 179.1 190.9

6.4 7.8 10.2 16.5 32.2

1980 1981 1982 1983 1984

..................................... ..................................... ..................................... ..................................... .....................................

115.3 122.5 132.5 146.2 156.1

261.2 231.4 234.1 238.5 243.4

28.1 78.7 104.1 132.1 147.1

58.1 67.8 71.8 97.5 107.6

61.4 88.8 104.2 116.6 108.9

62.5 151.7 184.5 136.1 164.9

16.0 38.2 48.8 40.9 62.3

185.7 159.0 190.1 363.2 389.3

214.5 184.9 210.0 321.7 315.4

286.2 347.7 379.9 350.9 387.9

442.3 475.4 471.0 433.1 500.9

215.2 250.5 261.9 219.4 255.1

45.0 53.8 63.7 96.7 147.1

1985 1986 1987 1988 1989

..................................... ..................................... ..................................... ..................................... .....................................

167.8 180.4 196.7 212.0 222.3

267.0 302.8 287.7 287.0 278.5

179.5 235.2 259.2 280.6 285.1

121.5 146.2 178.3 196.7 169.0

104.2 115.7 121.5 131.7 109.4

174.9 208.4 222.8 244.3 320.6

65.3 86.2 93.7 93.8 112.0

456.6 533.5 534.8 542.4 541.1

358.6 407.4 402.6 383.9 352.6

386.4 369.4 391.7 451.2 533.8

499.3 489.0 529.3 585.9 617.6

269.9 268.6 299.1 337.8 366.6

151.8 150.4 162.7 174.5 161.5

1990 1991 1992 1993 1994

..................................... ..................................... ..................................... ..................................... .....................................

246.5 267.1 292.2 321.6 354.0

276.8 289.7 340.1 385.7 384.0

293.7 332.5 384.6 414.6 404.1

151.5 131.2 141.6 172.6 196.4

103.3 92.3 79.5 72.8 86.3

357.7 372.4 352.6 353.2 381.0

139.6 188.5 212.8 216.6 210.5

581.3 664.8 754.1 785.3 752.5

341.5 379.6 433.0 434.0 397.2

610.7 602.3 508.1 467.9 502.5

562.7 463.3 360.0 314.1 313.8

360.5 335.1 288.4 277.5 314.1

121.1 83.5 67.3 61.6 64.8

1995 1996 1997 1998 1999

..................................... ..................................... ..................................... ..................................... .....................................

372.2 394.1 424.5 459.8 517.9

389.2 401.6 393.8 376.9 353.0

356.5 275.4 245.4 249.5 243.2

198.6 210.7 254.4 293.8 335.9

94.0 114.6 147.5 150.2 170.8

448.3 515.2 590.9 731.5 831.0

264.1 324.2 396.9 540.9 637.7

774.4 905.6 1 022.3 1 188.1 1 288.9

359.4 367.3 377.2 417.1 451.7

574.8 593.3 625.4 626.2 634.8

356.5 353.6 342.8 325.7 319.6

364.7 443.2 546.2 595.7 667.2

74.2 77.8 84.9 88.0 91.6

2000 2001 2002 2003 2004

..................................... ..................................... ..................................... ..................................... .....................................

531.2 581.1 626.1 662.1 696.9

309.4 335.3 305.8 324.8 340.7

238.1 257.6 279.4 310.4 328.3

363.8 375.8 476.8 500.6 497.3

195.4 211.8 231.5 297.0 382.6

921.5 982.4 911.4 798.0 712.6

791.6 1 197.4 1 250.5 1 120.7 1 072.7

1 423.9 1 740.0 2 062.0 2 340.5 2 638.4

453.8 573.6 718.5 832.6 890.9

699.6 634.4 589.7 536.0 544.1

344.9 338.8 302.1 273.1 271.2

733.8 686.8 697.0 761.9 907.1

102.5 114.3 117.0 120.0 160.0

2002 January ............................ February ........................... March ............................... April .................................. May .................................. June .................................

586.9 591.6 595.6 599.9 605.0 610.4

334.2 333.0 331.5 316.3 313.9 312.6

259.6 259.4 259.7 261.7 264.0 262.9

376.4 374.2 372.3 373.0 369.6 369.8

209.7 214.7 214.5 214.6 210.5 211.1

974.3 967.8 954.1 944.0 936.4 931.4

1 187.5 1 195.9 1 196.5 1 205.9 1 210.5 1 208.7

1 773.0 1 799.2 1 812.3 1 829.1 1 858.5 1 876.6

586.3 603.5 619.8 631.2 635.1 642.1

626.3 619.3 613.1 608.2 611.8 611.9

332.9 328.8 325.6 322.7 314.5 311.9

696.6 701.7 704.2 714.1 727.4 723.0

115.7 116.1 115.6 115.4 112.0 110.9

July ................................... August .............................. September ....................... October ............................ November ........................ December ........................

615.0 616.5 617.9 619.8 622.2 626.1

310.8 296.4 298.7 301.2 301.4 305.8

265.6 265.7 269.4 273.8 277.2 279.4

378.4 401.0 419.9 424.0 441.6 476.8

210.7 211.5 215.2 222.6 228.2 231.5

940.0 936.5 922.6 921.3 920.3 911.4

1 206.0 1 199.2 1 190.1 1 150.8 1 217.8 1 250.5

1 899.1 1 946.6 1 974.2 2 007.1 2 044.4 2 062.0

653.2 665.5 677.0 693.1 701.9 718.5

609.1 605.8 600.4 597.0 594.0 589.7

310.3 308.8 306.6 305.0 303.3 302.1

723.5 722.6 721.0 734.3 723.4 697.0

111.1 112.6 113.2 115.2 116.7 117.0

2003 January ............................ February ........................... March ............................... April .................................. May .................................. June .................................

630.3 635.6 640.1 643.5 646.2 647.7

306.0 313.6 311.1 314.6 328.8 335.9

280.2 282.7 283.6 284.4 289.2 291.5

472.2 483.9 495.9 506.3 515.2 515.9

236.8 236.5 238.2 246.1 258.8 264.0

901.3 895.8 888.3 883.3 877.6 874.1

1 221.7 1 209.4 1 194.0 1 176.2 1 157.8 1 162.2

2 094.7 2 114.5 2 126.7 2 154.4 2 179.9 2 213.8

731.0 744.7 758.7 769.5 789.3 796.1

585.4 581.8 578.3 574.8 570.9 567.3

299.9 297.0 295.4 293.9 291.2 288.3

707.8 708.8 712.8 707.7 708.0 708.0

119.0 119.5 118.4 117.9 116.6 118.1

July ................................... August .............................. September ....................... October ............................ November ........................ December ........................

647.8 649.6 652.3 656.6 659.2 662.1

334.0 338.3 329.6 326.5 324.9 324.8

296.9 299.9 305.9 305.6 306.0 310.4

502.8 493.7 490.9 506.8 503.2 500.6

272.6 282.7 284.6 291.9 293.1 297.0

865.0 860.8 848.5 825.7 812.6 798.0

1 202.1 1 175.2 1 181.6 1 159.3 1 138.4 1 120.7

2 263.0 2 299.7 2 292.3 2 305.4 2 324.8 2 340.5

809.0 823.9 833.3 840.1 833.7 832.6

558.6 551.2 545.5 541.7 537.9 536.0

285.1 281.5 278.9 276.8 274.8 273.1

717.1 726.7 735.3 737.0 746.8 761.9

121.2 122.8 122.7 123.0 121.9 120.0

2004 January ............................ February ........................... March ............................... April .................................. May .................................. June .................................

664.3 666.2 668.1 670.5 673.8 678.1

317.1 330.0 337.3 334.4 334.4 334.1

314.2 317.8 321.4 321.6 322.7 325.1

505.0 523.7 526.3 515.4 525.6 536.5

304.9 310.5 315.6 324.0 324.9 327.7

784.0 774.2 762.0 755.9 758.7 751.5

1 117.9 1 108.6 1 116.5 1 124.5 1 127.5 1 126.3

2 376.3 2 401.9 2 426.4 2 467.9 2 511.5 2 516.4

829.2 837.8 853.9 858.7 870.1 877.1

534.1 532.5 530.4 528.4 527.0 527.3

271.7 270.9 270.6 270.0 267.5 266.7

794.9 802.2 820.5 836.8 849.6 863.2

121.1 122.6 125.0 128.3 132.3 133.1

July ................................... August .............................. September ....................... October ............................ November ........................ December ........................

684.3 686.3 689.6 692.2 696.9 696.9

320.3 334.1 337.2 333.9 341.0 340.7

325.2 327.1 324.7 326.4 330.3 328.3

523.5 522.7 524.6 508.6 502.5 497.3

335.7 343.6 354.0 368.3 372.3 382.6

740.0 732.6 727.1 720.1 714.8 712.6

1 112.0 1 108.5 1 104.4 1 081.0 1 072.4 1 072.7

2 532.3 2 535.6 2 560.2 2 593.1 2 617.3 2 638.4

881.1 884.7 893.0 889.8 888.7 890.9

527.9 530.8 534.0 536.9 540.5 544.1

267.0 267.7 267.8 269.2 269.5 271.2

878.8 883.6 886.6 891.3 892.3 907.1

137.6 143.5 148.0 151.5 155.2 160.0

260

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-3. Aggregate Reserves of Depository Institutions and Monetary Base (Millions of dollars, monthly data are averages of daily figures, adjusted for seasonality and changes in reserve requirements, annual data are for December.) Reserves Year and month Total

Nonborrowed

Monetary base

Nonborrowed plus extended credit 1

Required

1959 ............................................................................

11 109

10 168

10 168

10 603

40 880

1960 1961 1962 1963 1964

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

11 247 11 499 11 604 11 730 12 011

11 172 11 366 11 344 11 397 11 747

11 172 11 366 11 344 11 397 11 747

10 503 10 915 11 033 11 239 11 605

40 977 41 853 42 957 45 003 47 161

1965 1966 1967 1968 1969

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

12 316 12 223 13 180 13 767 14 168

11 872 11 690 12 952 13 021 13 049

11 872 11 690 12 952 13 021 13 049

11 892 11 884 12 805 13 341 13 882

49 620 51 565 54 579 58 357 61 569

1970 1971 1972 1973 1974

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

14 558 15 230 16 645 17 021 17 550

14 225 15 104 15 595 15 723 16 823

14 225 15 104 15 595 15 723 16 970

14 309 15 049 16 361 16 717 17 292

65 013 69 108 75 167 81 073 87 535

1975 1976 1977 1978 1979

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

17 822 18 388 18 990 19 753 20 720

17 692 18 335 18 420 18 885 19 248

17 704 18 335 18 420 18 885 19 248

17 556 18 115 18 800 19 521 20 279

93 887 101 515 110 324 120 445 131 143

1980 1981 1982 1983 1984

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

22 015 22 443 23 600 25 367 26 913

20 325 21 807 22 966 24 593 23 727

20 328 21 956 23 152 24 595 26 331

21 501 22 124 23 100 24 806 26 078

142 004 149 021 160 127 175 467 187 242

1985 1986 1987 1988 1989

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

31 569 38 840 38 913 40 453 40 486

30 250 38 014 38 135 38 738 40 221

30 749 38 317 38 618 39 982 40 241

30 505 37 667 37 893 39 392 39 545

203 561 223 419 239 838 256 897 267 743

1990 1991 1992 1993 1994

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

41 766 45 515 54 421 60 567 59 454

41 440 45 323 54 297 60 485 59 245

41 463 45 324 54 298 60 485 59 245

40 101 44 526 53 267 59 497 58 295

293 293 317 554 350 919 386 591 418 336

1995 1996 1997 1998 1999

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

56 483 50 183 46 873 45 515 42 099

56 226 50 028 46 549 45 398 41 778

56 226 50 028 46 549 45 398 41 778

55 193 48 766 45 189 44 001 40 802

434 571 452 082 479 941 514 094 593 652

2000 2001 2002 2003 2004

............................................................................ ............................................................................ ............................................................................ ............................................................................ ............................................................................

38 792 41 496 40 441 42 770 46 798

38 582 41 429 40 361 42 724 46 735

38 582 41 429 40 361 ... ...

37 364 39 846 38 432 41 729 44 889

584 808 635 414 681 303 719 853 758 601

2002 January ................................................................... February .................................................................. March ...................................................................... April ......................................................................... May ......................................................................... June ........................................................................

41 678 41 490 40 720 40 527 39 472 39 259

41 628 41 460 40 641 40 457 39 360 39 117

41 628 41 460 40 641 40 457 39 360 39 117

40 283 40 120 39 300 39 316 38 212 38 021

641 408 646 202 649 885 654 068 657 991 663 248

July .......................................................................... August ..................................................................... September .............................................................. October ................................................................... November ............................................................... December ...............................................................

39 339 39 770 38 954 39 163 40 004 40 441

39 147 39 436 38 725 39 020 39 733 40 361

39 147 39 436 38 725 39 020 39 733 40 361

37 961 38 162 37 468 37 628 38 366 38 432

668 298 670 040 671 055 673 492 676 581 681 303

2003 January ................................................................... February .................................................................. March ...................................................................... April ......................................................................... May ......................................................................... June ........................................................................

40 753 40 980 40 900 40 615 40 935 42 305

40 726 40 955 40 878 40 586 40 879 42 144

... ... ... ... ... ...

39 045 39 014 39 266 39 073 39 314 40 443

685 398 690 799 695 044 698 481 701 668 704 027

July .......................................................................... August ..................................................................... September .............................................................. October ................................................................... November ............................................................... December ...............................................................

43 192 45 676 44 203 43 437 43 136 42 770

43 062 45 347 44 023 43 329 43 068 42 724

... ... ... ... ... ...

41 257 41 908 42 692 41 962 41 645 41 729

705 111 709 319 710 534 714 340 717 147 719 853

2004 January ................................................................... February .................................................................. March ...................................................................... April ......................................................................... May ......................................................................... June ........................................................................

43 004 42 913 44 661 45 788 45 641 46 284

42 898 42 871 44 610 45 702 45 529 46 104

... ... ... ... ... ...

42 112 41 718 42 855 43 980 43 956 44 351

722 258 724 539 727 240 730 970 734 440 739 325

July .......................................................................... August ..................................................................... September .............................................................. October ................................................................... November ............................................................... December ...............................................................

46 399 45 480 46 488 46 344 46 368 46 798

46 154 45 229 46 153 46 165 46 185 46 735

... ... ... ... ... ...

44 681 43 898 44 833 44 587 44 585 44 889

745 786 747 476 751 494 754 085 758 452 758 601

1Extended

credit program discontinued January 9, 2003. See notes and definitions. . . . = Not available.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

261

Table 12-4. Commercial Banks: Bank Credit and Selected Liabilities (All commercial banks in the United States, billions of dollars, seasonally adjusted, annual data are for December.) Bank credit Securities in bank credit

Loans and leases in bank credit

Year and month Total Total

U.S. government securities

Other securities

Total

Commercial and industrial

Real estate Total

Revolving home equity

Other real estate

1947 .................................................................. 1948 .................................................................. 1949 ..................................................................

111.0 109.1 115.7

77.0 70.8 76.3

72.1 65.7 70.5

4.8 5.1 5.9

34.0 38.3 39.4

14.4 15.3 13.8

8.9 10.3 11.0

... ... ...

... ... ...

1950 .................................................................. 1951 .................................................................. 1952 .................................................................. 1953 .................................................................. 1954 ..................................................................

120.4 126.5 134.1 139.7 150.8

72.2 72.4 74.3 77.0 85.8

65.1 64.5 66.3 67.7 74.9

7.1 8.0 7.9 9.4 10.8

48.2 54.1 59.8 62.7 65.0

17.6 21.3 23.6 23.6 22.9

12.9 14.1 15.0 16.1 17.6

... ... ... ... ...

... ... ... ... ...

1955 .................................................................. 1956 .................................................................. 1957 .................................................................. 1958 .................................................................. 1959 ..................................................................

152.2 158.0 162.7 184.1 189.5

76.5 73.2 73.5 85.9 77.4

65.6 62.1 61.0 70.5 61.9

10.9 11.1 12.4 15.4 15.5

75.7 84.9 89.2 98.2 112.1

27.2 33.0 34.7 35.4 39.5

19.9 21.7 22.3 25.1 28.1

... ... ... ... ...

... ... ... ... ...

1960 .................................................................. 1961 .................................................................. 1962 .................................................................. 1963 .................................................................. 1964 ..................................................................

197.6 213.1 231.0 250.7 270.4

79.5 88.2 92.2 92.6 94.7

63.9 70.4 70.7 67.4 66.7

15.6 17.9 21.5 25.2 28.1

118.1 124.8 138.8 158.1 175.6

42.4 44.1 47.7 52.5 58.7

28.7 30.2 34.0 38.9 43.5

... ... ... ... ...

... ... ... ... ...

1965 .................................................................. 1966 .................................................................. 1967 .................................................................. 1968 .................................................................. 1969 ..................................................................

297.1 318.6 350.5 390.5 401.6

96.1 97.2 111.4 121.9 112.4

64.3 61.0 70.7 73.8 64.2

31.9 36.2 40.6 48.1 48.2

201.0 221.4 239.2 268.6 289.2

69.5 79.3 86.5 96.5 106.9

48.9 53.8 58.2 64.8 69.9

... ... ... ... ...

... ... ... ... ...

1970 .................................................................. 1971 .................................................................. 1972 .................................................................. 1973 .................................................................. 1974 ..................................................................

434.4 485.2 555.3 638.6 701.7

129.7 147.5 160.6 168.4 173.8

73.4 79.8 85.4 89.7 87.9

56.3 67.7 75.2 78.7 85.9

304.6 337.6 394.7 470.1 527.9

111.6 118.0 133.6 162.8 193.0

72.9 81.7 98.8 119.4 132.5

... ... ... 0.0 0.0

... ... ... 119.4 132.5

1975 .................................................................. 1976 .................................................................. 1977 .................................................................. 1978 .................................................................. 1979 ..................................................................

732.9 790.7 876.0 989.4 1 111.4

206.7 228.6 236.3 242.2 260.7

117.9 137.3 137.4 138.4 147.2

88.9 91.3 98.9 103.8 113.4

526.2 562.1 639.7 747.2 850.7

184.3 186.3 205.8 239.0 282.2

137.2 151.3 178.0 213.5 245.0

0.0 0.0 0.0 0.0 0.0

137.2 151.3 178.0 213.5 245.0

1980 .................................................................. 1981 .................................................................. 1982 .................................................................. 1983 .................................................................. 1984 ..................................................................

1 207.1 1 302.7 1 412.3 1 566.7 1 733.4

296.8 311.1 338.6 403.8 406.6

173.2 181.8 204.7 263.4 262.9

123.6 129.3 133.9 140.4 143.7

910.3 991.6 1 073.7 1 163.0 1 326.9

314.5 353.3 396.4 419.1 479.4

265.7 287.5 303.8 334.8 380.8

0.0 0.0 0.0 0.0 0.0

265.7 287.5 303.8 334.8 380.8

1985 .................................................................. 1986 .................................................................. 1987 .................................................................. 1988 .................................................................. 1989 ..................................................................

1 922.2 2 106.6 2 255.3 2 432.7 2 602.2

455.9 510.0 535.0 561.7 584.7

273.8 312.8 338.9 366.0 399.5

182.2 197.2 196.1 195.7 185.2

1 466.3 1 596.5 1 720.2 1 871.0 2 017.5

506.5 544.0 575.0 611.7 642.7

431.0 499.9 595.7 676.4 769.2

0.0 0.0 32.2 42.6 53.5

431.0 499.9 563.5 633.8 715.6

1990 .................................................................. 1991 .................................................................. 1992 .................................................................. 1993 .................................................................. 1994 ..................................................................

2 749.7 2 856.4 2 954.1 3 112.4 3 318.2

634.9 747.2 841.8 915.6 939.9

456.0 566.9 664.9 730.8 721.6

178.9 180.3 176.9 184.8 218.3

2 114.9 2 109.2 2 112.3 2 196.7 2 378.3

645.6 623.4 599.4 590.3 650.3

856.6 882.8 906.0 947.0 1 010.7

66.4 74.3 78.5 78.1 80.5

790.2 808.5 827.5 868.9 930.2

1995 .................................................................. 1996 .................................................................. 1997 .................................................................. 1998 .................................................................. 1999 ..................................................................

3 601.0 3 757.0 4 099.4 4 532.9 4 763.4

984.0 984.4 1 098.7 1 237.0 1 282.8

701.1 702.6 755.6 797.6 815.6

282.9 281.8 343.1 439.5 467.2

2 617.0 2 772.6 3 000.7 3 295.9 3 480.6

723.8 784.7 854.1 947.4 998.8

1 089.5 1 140.6 1 242.7 1 332.9 1 471.1

84.5 90.9 105.0 103.9 101.5

1 004.9 1 049.7 1 137.7 1 229.0 1 369.6

2000 .................................................................. 2001 .................................................................. 2002 .................................................................. 2003 .................................................................. 2004 ..................................................................

5 216.7 5 418.0 5 886.2 6 250.4 6 793.9

1 348.2 1 487.4 1 721.6 1 850.3 1 937.5

792.4 849.0 1 029.1 1 104.8 1 149.7

555.8 638.4 692.5 745.5 787.8

3 868.5 3 930.6 4 164.6 4 400.1 4 856.4

1 087.0 1 025.4 962.9 901.3 926.2

1 650.4 1 777.7 2 021.0 2 215.5 2 545.8

130.0 155.7 213.5 280.8 400.1

1 520.3 1 622.1 1 807.5 1 934.7 2 145.7

2003 January ......................................................... February ....................................................... March ............................................................ April .............................................................. May ............................................................... June ..............................................................

5 889.3 5 970.7 6 009.1 6 049.4 6 153.4 6 206.9

1 722.0 1 767.3 1 778.1 1 779.9 1 833.1 1 856.0

1 037.7 1 067.6 1 076.8 1 098.4 1 125.1 1 143.4

684.3 699.7 701.3 681.6 708.1 712.6

4 167.2 4 203.4 4 231.0 4 269.4 4 320.3 4 350.9

958.2 949.7 943.2 942.9 934.6 925.0

2 046.2 2 078.2 2 101.8 2 126.1 2 146.8 2 171.7

218.0 223.1 230.1 235.2 239.1 244.7

1 828.2 1 855.1 1 871.7 1 890.9 1 907.8 1 927.0

July ............................................................... August .......................................................... September .................................................... October ......................................................... November ..................................................... December .....................................................

6 195.3 6 179.9 6 185.3 6 161.5 6 198.0 6 250.4

1 815.1 1 777.1 1 788.7 1 804.4 1 831.4 1 850.3

1 110.5 1 080.0 1 071.2 1 081.5 1 097.4 1 104.8

704.6 697.1 717.4 722.8 734.0 745.5

4 380.1 4 402.7 4 396.6 4 357.1 4 366.6 4 400.1

926.7 918.6 908.0 893.6 888.4 901.3

2 197.6 2 233.7 2 245.0 2 227.3 2 206.7 2 215.5

248.5 252.7 258.5 265.5 273.2 280.8

1 949.1 1 981.0 1 986.6 1 961.8 1 933.5 1 934.7

2004 January ......................................................... February ....................................................... March ............................................................ April .............................................................. May ............................................................... June ..............................................................

6 320.8 6 441.8 6 519.8 6 540.1 6 549.1 6 589.0

1 855.3 1 930.9 1 980.7 1 953.7 1 930.9 1 934.7

1 106.3 1 170.9 1 204.9 1 200.2 1 189.2 1 188.5

749.0 760.0 775.8 753.4 741.6 746.2

4 465.6 4 510.9 4 539.0 4 586.4 4 618.2 4 654.3

902.7 901.0 890.3 886.0 885.6 889.9

2 241.2 2 263.3 2 304.0 2 361.4 2 396.6 2 410.0

291.2 297.6 308.2 318.1 328.1 338.2

1 950.0 1 965.7 1 995.9 2 043.3 2 068.5 2 071.7

July ............................................................... August .......................................................... September .................................................... October ......................................................... November ..................................................... December .....................................................

6 601.5 6 631.8 6 701.7 6 715.5 6 760.0 6 793.9

1 909.7 1 915.3 1 925.5 1 918.3 1 924.8 1 937.5

1 180.3 1 182.0 1 176.4 1 147.5 1 145.4 1 149.7

729.4 733.3 749.1 770.8 779.5 787.8

4 691.7 4 716.5 4 776.2 4 797.2 4 835.2 4 856.4

895.9 904.3 907.7 909.5 917.1 926.2

2 419.4 2 438.0 2 463.6 2 497.5 2 522.8 2 545.8

348.1 359.2 370.5 384.5 394.4 400.1

2 071.4 2 078.8 2 093.1 2 113.0 2 128.4 2 145.7

. . . = Not available.

262

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-4. Commercial Banks: Bank Credit and Selected Liabilities—Continued (All commercial banks in the United States, billions of dollars, seasonally adjusted, annual data are for December.) Bank credit—Continued

Selected liabilities

Loans and leases in bank credit—Continued

Borrowings

Year and month Consumer

Other loans and leases

Security

Deposits

From banks in the U.S.

Total

From nonbanks in the U.S.

1947 .................................................................. 1948 .................................................................. 1949 ..................................................................

5.7 6.9 8.1

2.3 2.5 2.9

2.8 3.2 3.5

... ... ...

... ... ...

... ... ...

... ... ...

1950 .................................................................. 1951 .................................................................. 1952 .................................................................. 1953 .................................................................. 1954 ..................................................................

10.2 10.7 12.7 14.7 14.9

3.1 2.7 3.2 3.6 4.4

4.3 5.2 5.3 4.8 5.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 .................................................................. 1956 .................................................................. 1957 .................................................................. 1958 .................................................................. 1959 ..................................................................

17.3 19.1 20.0 20.4 24.1

5.1 4.8 4.6 4.7 5.0

6.1 6.2 7.6 12.7 15.4

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 .................................................................. 1961 .................................................................. 1962 .................................................................. 1963 .................................................................. 1964 ..................................................................

26.3 27.6 30.3 34.2 39.5

5.2 6.1 6.6 7.9 8.3

15.6 16.8 20.2 24.6 25.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 .................................................................. 1966 .................................................................. 1967 .................................................................. 1968 .................................................................. 1969 ..................................................................

45.0 47.7 51.2 57.7 62.6

8.0 8.3 9.6 10.5 10.0

29.7 32.4 33.8 39.2 39.8

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 .................................................................. 1971 .................................................................. 1972 .................................................................. 1973 .................................................................. 1974 ..................................................................

65.3 73.3 85.4 98.3 102.1

10.4 10.9 14.4 11.2 10.6

44.5 53.9 62.5 78.4 89.6

... ... ... 651.6 718.9

... ... ... 70.5 76.3

... ... ... 44.1 47.8

... ... ... 26.4 28.6

1975 .................................................................. 1976 .................................................................. 1977 .................................................................. 1978 .................................................................. 1979 ..................................................................

104.6 115.9 138.1 164.6 184.5

12.7 17.7 20.7 19.1 17.4

87.5 91.0 97.2 110.9 121.6

759.3 815.3 899.4 996.7 1 069.3

72.1 95.5 111.7 138.4 176.6

45.1 56.3 61.8 72.6 97.4

27.0 39.2 49.9 65.8 79.2

1980 .................................................................. 1981 .................................................................. 1982 .................................................................. 1983 .................................................................. 1984 ..................................................................

179.2 182.7 188.2 213.2 253.6

17.2 20.2 23.6 26.5 34.1

133.6 148.0 161.7 169.4 179.0

1 181.6 1 247.4 1 365.5 1 478.8 1 607.0

212.3 256.0 282.2 282.8 316.9

118.1 142.3 153.9 149.1 165.8

94.2 113.7 128.3 133.7 151.1

1985 .................................................................. 1986 .................................................................. 1987 .................................................................. 1988 .................................................................. 1989 ..................................................................

294.5 314.5 327.7 354.8 375.3

42.9 38.6 34.8 40.3 40.9

191.4 199.5 187.0 187.9 189.3

1 752.1 1 911.2 1 971.7 2 111.0 2 237.3

372.6 410.2 427.2 491.2 552.5

192.4 213.3 222.2 252.1 282.9

180.1 196.9 204.9 239.1 269.6

1990 .................................................................. 1991 .................................................................. 1992 .................................................................. 1993 .................................................................. 1994 ..................................................................

380.8 363.9 356.3 387.6 448.2

44.4 53.9 63.4 86.4 75.8

187.4 185.2 187.2 185.5 193.3

2 339.5 2 468.0 2 501.1 2 535.3 2 536.2

575.8 496.8 498.8 535.9 622.1

296.6 222.6 213.4 214.4 257.1

279.2 274.2 285.4 321.5 365.0

1995 .................................................................. 1996 .................................................................. 1997 .................................................................. 1998 .................................................................. 1999 ..................................................................

491.4 512.4 502.6 496.9 490.6

83.2 75.3 94.4 145.3 149.8

229.1 259.6 306.9 373.3 370.2

2 668.9 2 868.1 3 118.8 3 331.4 3 533.6

697.1 729.7 854.8 1 021.0 1 125.8

288.4 299.5 307.1 319.8 346.4

408.7 430.2 547.7 701.2 779.4

2000 .................................................................. 2001 .................................................................. 2002 .................................................................. 2003 .................................................................. 2004 ..................................................................

539.3 556.0 586.7 643.0 695.2

177.3 146.0 190.2 215.2 215.9

414.4 425.4 403.8 425.1 473.3

3 851.5 4 228.5 4 504.4 4 765.5 5 328.0

1 243.4 1 253.9 1 415.0 1 476.4 1 574.2

379.9 406.6 422.7 386.9 399.3

863.5 847.4 992.3 1 089.5 1 174.9

2003 January ......................................................... February ....................................................... March ............................................................ April .............................................................. May ............................................................... June ..............................................................

585.8 589.5 590.4 589.3 597.7 601.0

176.4 184.2 191.9 191.7 215.0 216.8

400.7 401.8 403.7 419.4 426.3 436.3

4 522.9 4 548.8 4 592.0 4 613.4 4 641.6 4 688.0

1 356.1 1 381.7 1 406.1 1 406.3 1 443.7 1 484.6

390.2 395.9 401.8 396.8 393.7 410.3

965.9 985.9 1 004.3 1 009.5 1 050.0 1 074.3

July ............................................................... August .......................................................... September .................................................... October ......................................................... November ..................................................... December .....................................................

601.5 601.0 601.8 597.1 626.1 643.0

217.7 214.6 212.4 220.1 228.7 215.2

436.6 435.0 429.5 419.0 416.7 425.1

4 730.1 4 769.9 4 749.3 4 707.5 4 747.8 4 765.5

1 524.2 1 523.6 1 498.1 1 454.6 1 452.3 1 476.4

411.9 414.9 400.1 386.7 384.2 386.9

1 112.4 1 108.8 1 098.0 1 067.9 1 068.1 1 089.5

2004 January ......................................................... February ....................................................... March ............................................................ April .............................................................. May ............................................................... June ..............................................................

651.4 653.6 658.2 658.5 659.5 662.3

234.1 244.7 245.5 240.7 235.2 248.9

436.2 448.4 441.0 439.8 441.3 443.3

4 805.0 4 841.2 4 931.1 4 983.7 5 060.6 5 122.4

1 523.2 1 582.8 1 556.4 1 577.4 1 545.3 1 578.3

391.7 420.8 396.1 430.2 423.4 433.3

1 131.5 1 161.9 1 160.4 1 147.2 1 121.9 1 145.0

July ............................................................... August .......................................................... September .................................................... October ......................................................... November ..................................................... December .....................................................

691.0 691.3 693.3 690.1 685.6 695.2

238.1 232.1 247.5 241.6 236.8 215.9

447.3 450.9 464.0 458.6 473.0 473.3

5 156.7 5 180.2 5 202.9 5 229.4 5 291.8 5 328.0

1 592.7 1 580.8 1 610.6 1 594.2 1 590.4 1 574.2

458.5 445.3 460.2 442.0 430.1 399.3

1 134.2 1 135.5 1 150.4 1 152.2 1 160.3 1 174.9

. . . = Not available.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

Figure 12-2. Debt as a Percent of GDP, 1946–2004 250

200

Percent

150

100

50

0 1946

1951

1956

1961

1966

1971

1976

1981

1986

1991

1996

2004

Year Total domestic nonfinancial debt / Total GDP Corporate nonfinancial business debt / Sector value added

• After a pause during the 1990s, the ratio of the total debt owed by all domestic nonfinancial sectors at the end of the year to the year’s GDP rose to another post-WorldWar-II record, shown in Figure 12-2. Over the latest four years, three of the four major components of the nonfinancial economy expanded their debt markedly faster than the growth in the value of GDP: households, state and local governments, and the federal government. For the nonfinancial business sector, debt growth was in line with overall GDP growth. (Tables 12-5 and 1-1) • Household debt can also be assessed relative to aggregate personal disposable income. It reached a record level—higher than a year’s aggregate personal disposable income— in 2001 and continued to climb during the subsequent three years. (Tables 12-5 and 4-1) However, other criteria for judging the burden of household debt appear somewhat less alarming; these indicators can be found in Figure 12-3 and Table 12-6. • The debt of nonfinancial corporate business can be compared with its own contribution to GDP (value added), as graphed in Figure 12-2. This ratio reached a postwar high in 2001 but has declined each year since then. (Tables 12-5 and 1-13)

263

264

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-5. Credit Market Debt Outstanding, By Borrower and Lender (Billions of dollars, except as noted; end of period; not seasonally adjusted.) Credit market debt outstanding Owed by: Domestic financial sectors

Domestic nonfinancial sectors

Year and quarter Total Total

Federal governmentrelated

Private

Total

Federal government

Billions of Percent of dollars GDP

Treasury securities

Total

Households

Nonfinancial business

Budget agency securities Billions of Percent of dollars DPI and mortgages

Corporate Total Total

Percent of sector value added

1945 1946 1947 1948 1949

................................. ................................. ................................. ................................. .................................

355.0 350.8 367.7 382.2 397.5

1.9 3.0 3.8 5.3 6.1

0.9 1.2 1.3 1.6 1.4

1.0 1.8 2.5 3.7 4.7

348.1 339.8 351.6 363.2 377.5

156.0 152.9 144.0 134.9 141.2

251.5 228.0 220.8 215.1 217.7

251.2 227.9 220.7 214.2 216.7

0.3 0.1 0.1 0.9 1.0

28.0 35.2 43.9 52.4 60.2

18.4 21.8 25.6 27.5 31.6

56.0 63.9 72.6 80.0 83.0

44.6 49.8 56.6 62.7 64.2

46.7 50.1 46.9 45.3 47.7

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

425.3 449.2 484.6 516.7 541.8

8.5 9.6 11.1 12.7 12.3

1.8 2.1 2.2 2.2 2.1

6.7 7.5 8.9 10.5 10.1

402.8 425.0 458.4 487.7 512.9

137.1 125.3 127.9 128.6 134.8

216.5 216.1 221.4 228.4 230.8

216.1 215.8 220.8 226.2 228.5

0.4 0.2 0.6 2.3 2.3

72.9 81.5 93.6 105.8 117.1

34.7 35.3 38.5 40.9 44.3

92.1 103.9 112.6 117.7 123.9

70.3 78.7 84.9 89.1 92.6

45.9 44.8 46.3 45.5 48.0

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

582.0 611.4 642.7 681.6 738.6

15.3 17.9 20.8 21.0 27.7

3.2 4.0 5.1 5.2 7.5

12.1 13.9 15.7 15.8 20.2

550.1 576.1 603.2 639.9 689.5

132.6 131.7 130.8 137.0 136.1

230.0 224.1 221.9 231.1 238.0

228.4 222.8 220.1 229.0 236.2

1.6 1.4 1.8 2.1 1.8

137.6 152.5 165.0 175.8 197.7

48.6 50.3 51.6 53.2 56.4

136.4 149.1 161.3 172.3 187.1

101.2 110.8 120.5 127.6 136.3

46.5 47.6 49.5 53.8 51.2

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

780.0 828.1 887.6 953.5 1 027.9

32.5 34.9 39.4 46.6 53.0

8.1 8.9 10.5 12.0 12.7

24.4 26.0 28.9 34.6 40.3

724.3 767.8 820.6 876.0 940.0

137.6 141.0 140.1 141.8 141.6

236.0 243.2 250.0 253.8 259.9

234.0 240.7 246.8 250.7 255.9

1.9 2.5 3.3 3.2 4.0

215.1 231.6 253.5 280.2 309.4

58.9 60.7 62.6 65.9 66.9

201.0 215.2 233.3 252.8 275.0

145.2 152.7 163.1 173.7 187.5

52.5 53.8 52.6 52.7 52.7

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 106.5 1 187.0 1 267.7 1 372.8 1 490.8

61.9 72.9 71.6 84.0 111.5

15.1 20.3 20.4 24.4 33.8

46.8 52.5 51.2 59.6 77.7

1 007.2 1 074.7 1 152.7 1 242.8 1 330.1

140.1 136.4 138.5 136.6 135.1

261.5 265.1 278.1 290.6 287.4

257.0 259.3 268.2 277.6 276.8

4.5 5.8 9.9 13.0 10.6

337.9 360.4 380.7 412.3 442.4

67.8 67.1 66.2 66.0 65.6

304.6 339.1 376.6 413.8 462.0

207.6 232.1 259.1 285.1 317.8

53.1 54.1 57.4 57.3 58.8

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 600.0 1 750.7 1 935.1 2 172.7 2 409.5

127.8 138.9 162.8 209.8 258.3

43.6 49.5 57.9 77.9 98.6

84.1 89.3 104.8 131.9 159.7

1 420.2 1 555.2 1 711.2 1 895.5 2 069.9

136.8 138.0 138.2 137.1 138.0

299.5 324.4 339.4 346.3 358.2

289.9 315.9 330.1 336.7 348.8

9.6 8.5 9.3 9.6 9.4

457.9 500.5 557.4 627.9 683.0

62.2 62.4 64.1 64.2 63.7

512.5 563.6 633.7 726.5 820.5

361.3 389.5 427.9 492.7 548.9

64.7 64.6 63.9 65.6 67.8

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

2 617.8 2 905.2 3 293.8 3 781.4 4 282.2

260.4 283.9 337.8 412.5 504.9

108.9 123.1 145.5 182.6 231.8

151.6 160.8 192.3 229.9 273.1

2 261.8 2 505.3 2 826.6 3 211.2 3 603.0

138.1 137.3 139.2 139.9 140.6

443.9 513.1 569.4 621.9 657.7

434.9 503.7 560.9 614.9 652.1

8.9 9.3 8.4 7.0 5.6

736.3 820.6 948.3 1 107.2 1 277.0

62.0 63.0 66.1 68.8 71.2

862.2 933.8 1 052.7 1 186.5 1 346.1

569.4 610.4 685.5 759.5 842.9

64.9 61.7 61.2 59.7 59.5

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

4 730.5 5 266.8 5 774.1 6 471.7 7 436.6

578.1 682.4 778.1 882.7 1 052.4

276.6 324.0 388.9 456.6 531.2

301.5 358.3 389.2 426.1 521.2

3 953.5 4 361.7 4 783.4 5 359.2 6 146.2

141.7 139.4 147.0 151.5 156.3

735.0 820.5 981.8 1 167.0 1 364.2

730.0 815.9 978.1 1 163.4 1 360.8

5.0 4.5 3.7 3.6 3.4

1 397.1 1 508.0 1 577.3 1 733.4 1 944.5

69.5 67.1 65.1 66.5 66.8

1 477.0 1 661.2 1 810.6 1 997.8 2 323.9

909.1 1 026.5 1 116.6 1 229.1 1 437.1

59.1 58.8 61.8 63.6 66.3

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

8 623.9 9 805.3 10 816.8 11 858.6 12 826.3

1 257.3 1 593.6 1 895.5 2 145.8 2 399.3

631.7 810.3 977.6 1 098.4 1 247.8

625.6 783.3 917.9 1 047.4 1 151.4

7 127.3 7 970.6 8 673.9 9 458.1 10 162.1

168.9 178.6 183.0 185.3 185.3

1 589.9 1 805.9 1 949.8 2 104.9 2 251.2

1 586.6 1 802.2 1 944.6 2 082.3 2 227.0

3.3 3.6 5.2 22.6 24.2

2 272.5 2 531.1 2 748.5 3 035.9 3 329.7

73.1 77.0 79.5 81.0 82.8

2 587.0 2 881.5 3 134.6 3 422.2 3 636.0

1 615.5 1 839.5 2 033.9 2 234.2 2 401.1

70.2 77.0 79.5 80.6 82.4

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

13 748.0 14 382.6 15 172.2 16 122.9 17 162.9

2 613.8 2 771.0 3 027.9 3 327.5 3 800.5

1 418.4 1 564.2 1 720.4 1 885.7 2 173.4

1 195.4 1 206.8 1 307.4 1 441.8 1 627.1

10 845.4 11 307.6 11 825.7 12 406.9 12 984.8

186.9 188.6 186.6 186.4 183.6

2 498.1 2 776.4 3 080.3 3 336.5 3 492.3

2 465.8 2 757.8 3 061.6 3 309.9 3 465.6

32.4 18.6 18.8 26.6 26.7

3 593.0 3 783.0 3 984.1 4 222.8 4 545.3

83.8 84.7 83.9 86.0 88.2

3 761.9 3 670.6 3 666.7 3 695.3 3 841.2

2 533.1 2 477.3 2 502.9 2 549.8 2 682.9

83.3 79.9 77.3 75.0 73.1

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

18 370.2 19 690.9 21 078.8 23 177.3 25 281.7

4 245.2 4 762.0 5 318.7 6 348.7 7 363.7

2 377.7 2 609.2 2 822.8 3 294.4 3 887.7

1 867.4 2 152.8 2 495.9 3 054.3 3 475.9

13 669.1 14 384.9 15 152.0 16 183.1 17 253.4

184.8 184.0 182.5 185.0 186.2

3 636.7 3 781.7 3 804.8 3 752.2 3 681.0

3 608.5 3 755.1 3 778.3 3 723.7 3 652.7

28.2 26.6 26.5 28.5 28.3

4 870.5 5 202.3 5 513.8 5 943.3 6 438.8

90.1 91.5 92.1 92.9 96.2

4 116.8 4 371.8 4 762.7 5 349.3 5 956.8

2 909.6 3 092.3 3 382.3 3 778.8 4 186.6

75.0 75.2 76.8 81.2 84.6

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

26 979.7 28 934.9 31 173.5 33 948.9 36 745.7

8 153.3 9 043.8 9 879.3 10 894.2 11 690.8

4 319.7 4 962.3 5 509.0 6 083.3 6 201.4

3 833.6 4 081.5 4 370.3 4 811.0 5 489.4

18 098.8 19 207.2 20 539.7 22 245.8 24 163.8

184.4 189.6 196.2 202.8 205.9

3 385.1 3 379.5 3 637.0 4 033.1 4 395.0

3 357.8 3 352.7 3 609.8 4 008.2 4 370.7

27.3 26.8 27.3 24.9 24.3

7 007.7 7 621.5 8 367.7 9 236.9 10 258.8

97.4 101.8 106.9 113.1 118.4

6 513.7 6 908.1 7 092.9 7 416.0 7 835.2

4 535.6 4 756.8 4 785.2 4 944.5 5 184.2

86.0 89.9 89.1 88.4 86.5

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

29 377.8 29 881.0 30 416.3 31 173.5

9 212.7 9 405.2 9 595.9 9 879.3

5 132.0 5 253.0 5 368.0 5 509.0

4 080.7 4 152.2 4 227.9 4 370.3

19 450.4 19 747.7 20 083.9 20 539.7

188.2 189.4 190.8 193.9

3 430.2 3 451.3 3 540.8 3 637.0

3 403.9 3 424.5 3 513.6 3 609.8

26.3 26.8 27.2 27.3

7 735.4 7 916.3 8 123.2 8 367.7

99.8 101.0 103.5 106.2

6 964.8 7 010.1 7 026.8 7 092.9

4 780.5 4 780.0 4 759.6 4 785.2

90.5 89.2 88.2 87.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31 731.0 32 464.3 33 164.2 33 948.9

10 115.9 10 319.3 10 592.6 10 894.2

5 633.5 5 744.1 5 941.2 6 083.3

4 482.4 4 575.2 4 651.3 4 811.0

20 840.5 21 361.8 21 788.8 22 245.8

194.5 197.0 196.5 198.0

3 700.6 3 806.9 3 914.5 4 033.1

3 673.7 3 779.9 3 887.5 4 008.2

26.9 27.0 27.0 24.9

8 514.2 8 760.5 9 016.5 9 236.9

106.6 108.3 109.0 111.0

7 159.7 7 273.5 7 328.0 7 416.0

4 821.7 4 894.6 4 905.2 4 944.5

88.4 88.3 86.8 86.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

34 565.1 35 132.3 35 895.8 36 745.7

11 049.6 11 244.5 11 456.6 11 690.8

6 104.4 6 170.7 6 214.1 6 201.4

4 945.1 5 073.8 5 242.5 5 489.4

22 685.7 23 073.1 23 600.1 24 163.8

198.0 197.8 199.7 201.4

4 168.9 4 209.6 4 292.9 4 395.0

4 143.8 4 185.4 4 268.7 4 370.7

25.1 24.2 24.2 24.3

9 427.4 9 667.9 9 983.2 10 258.8

111.2 112.7 115.1 114.9

7 490.8 7 568.7 7 679.2 7 835.2

4 986.4 5 015.0 5 074.8 5 184.2

85.6 84.7 84.0 83.6

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

265

Table 12-5. Credit Market Debt Outstanding, By Borrower and Lender—Continued (Billions of dollars, except as noted; end of period; not seasonally adjusted.) Credit market debt outstanding owed by: —Continued

Credit market assets held by: Government-related sectors

Selected domestic financial sectors

Domestic nonfinancial sectors —Continued Year and quarter

Nonfinancial business—Continued Nonfarm noncorporate

Farm

State and local governments

Foreign credit market debt held in United States

Total Total

Federal government

Governmentsponsored enterprises

Federally related mortgage pools

State and local governments

State and local retirement funds

Total, selected sectors

Monetary authority

1945 1946 1947 1948 1949

................................. ................................. ................................. ................................. .................................

4.8 7.2 8.5 9.2 10.2

6.6 7.0 7.4 8.1 8.5

12.6 12.7 14.3 15.7 16.6

5.0 8.0 12.3 13.7 13.9

355.0 350.8 367.7 382.2 397.5

17.2 20.0 25.5 28.3 30.6

5.2 8.3 12.6 13.9 15.3

2.0 2.1 2.3 2.7 2.6

0.0 0.0 0.0 0.0 0.0

7.5 6.8 7.5 8.2 8.6

2.5 2.8 3.1 3.5 4.1

218.5 219.0 228.5 235.7 245.0

24.3 23.5 22.6 23.5 19.0

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

12.3 14.3 16.1 17.1 18.9

9.5 10.8 11.6 11.5 12.3

21.2 23.6 30.8 35.8 41.1

14.0 14.7 15.1 16.3 16.6

425.3 449.2 484.6 516.7 541.8

33.2 36.2 40.6 44.9 47.3

16.0 17.2 18.8 20.8 20.5

3.1 3.5 3.6 3.7 4.0

0.0 0.0 0.1 0.1 0.1

9.4 10.1 11.7 12.6 13.5

4.7 5.4 6.4 7.7 9.2

262.3 280.9 303.2 322.9 346.1

20.7 23.6 24.1 25.3 25.0

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

21.5 23.7 25.2 27.7 31.9

13.7 14.6 15.6 17.0 18.9

46.1 50.4 55.0 60.7 66.7

16.6 17.4 18.8 20.8 21.4

582.0 611.4 642.7 681.6 738.6

51.4 55.6 59.1 62.8 70.1

21.1 21.8 22.4 23.9 25.7

5.0 6.0 7.3 7.7 9.9

0.1 0.1 0.2 0.2 0.2

14.7 15.9 15.9 16.1 17.5

10.5 11.7 13.3 15.0 16.8

368.4 390.0 410.7 444.0 470.9

24.4 24.7 23.8 26.3 26.7

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

35.8 41.0 46.4 52.6 58.5

20.0 21.6 23.9 26.4 29.0

72.2 77.8 83.8 89.2 95.6

23.2 25.5 27.5 30.8 35.0

780.0 828.1 887.6 953.5 1 027.9

76.0 82.0 89.4 96.6 104.7

26.7 28.4 30.4 31.9 34.7

11.1 12.1 13.7 15.3 16.0

0.2 0.3 0.4 0.5 0.6

19.1 20.1 21.7 23.3 25.0

18.9 21.1 23.2 25.6 28.3

502.5 540.7 586.5 637.1 694.2

27.0 28.8 30.5 33.7 36.6

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

64.7 71.5 78.7 87.1 99.6

32.3 35.5 38.8 41.6 44.6

103.2 110.0 117.4 126.1 138.3

37.5 39.5 43.3 46.1 49.2

1 106.5 1 187.0 1 267.7 1 372.8 1 490.8

115.5 129.8 138.5 154.4 175.6

37.6 42.7 47.3 52.3 55.4

18.3 23.3 23.3 26.5 35.1

0.9 1.3 2.0 2.5 3.2

27.5 27.5 27.6 31.4 36.4

31.3 34.9 38.3 41.6 45.5

757.0 803.9 869.1 942.1 998.7

40.6 43.7 49.1 53.0 57.2

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

103.6 122.6 149.0 168.5 198.4

47.6 51.6 56.8 65.4 73.3

150.3 166.7 180.7 194.8 208.2

52.1 56.6 61.1 67.4 81.2

1 600.0 1 750.7 1 935.1 2 172.7 2 409.5

191.5 201.1 223.0 260.2 304.7

58.2 60.3 62.2 64.9 72.2

43.9 45.0 49.0 64.4 85.3

4.8 9.5 14.4 18.0 21.5

35.1 33.4 40.1 49.8 56.4

49.6 52.9 57.4 63.1 69.4

1 071.9 1 181.6 1 325.8 1 491.4 1 631.1

62.2 69.6 71.2 80.5 85.3

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

210.7 231.2 261.3 304.8 357.5

82.1 92.2 105.9 122.2 145.7

219.4 237.8 256.2 295.6 322.2

95.6 116.0 129.4 157.6 174.3

2 617.8 2 905.2 3 293.8 3 781.4 4 282.2

346.1 398.6 471.6 582.6 696.0

85.8 93.7 103.6 120.6 141.4

89.8 94.5 101.4 128.1 158.1

28.5 40.7 56.8 70.4 94.8

63.8 82.0 110.6 147.5 175.2

78.3 87.7 99.2 116.0 126.6

1 764.0 1 959.8 2 217.6 2 512.9 2 824.5

93.5 100.3 108.9 117.4 124.5

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

406.4 456.8 509.5 580.3 698.8

161.5 177.8 184.5 188.4 187.9

344.4 372.1 413.8 461.1 513.6

198.9 222.8 212.6 229.8 238.0

4 730.5 5 266.8 5 774.1 6 471.7 7 436.6

804.5 931.1 1 058.9 1 177.7 1 339.7

165.5 189.9 205.8 215.3 232.6

184.5 217.7 233.7 236.4 265.9

114.0 129.0 178.5 244.8 289.0

193.4 225.6 250.1 282.4 319.0

147.2 169.0 190.7 198.8 233.2

3 092.4 3 399.1 3 640.2 4 046.3 4 602.8

128.0 136.9 144.5 159.2 167.6

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

798.0 886.0 956.3 1 054.2 1 100.5

173.4 156.0 144.4 133.7 134.4

677.9 752.1 841.0 895.0 945.2

239.3 241.0 247.4 254.8 265.0

8 623.9 9 805.3 10 816.8 11 858.6 12 826.3

1 618.0 1 920.0 2 155.5 2 295.9 2 484.3

251.2 258.0 242.8 217.4 209.4

291.0 307.6 330.9 364.2 359.9

367.9 531.6 669.4 745.3 869.5

455.6 525.8 583.6 618.6 664.1

252.4 297.1 328.8 350.5 381.5

5 177.6 5 880.5 6 439.3 6 971.2 7 390.4

186.0 205.5 230.1 240.6 233.3

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

1 093.3 1 058.5 1 028.4 1 007.9 1 015.9

135.4 134.8 135.3 137.6 142.4

992.3 1 077.7 1 094.5 1 152.2 1 105.9

288.8 304.0 318.7 388.5 377.5

13 748.0 14 382.6 15 172.2 16 122.9 17 162.9

2 742.1 2 951.5 3 163.1 3 386.4 3 563.4

243.0 250.9 238.9 229.5 214.5

373.9 388.9 458.1 546.7 667.9

1 019.9 1 156.5 1 272.0 1 356.8 1 472.4

703.4 750.6 752.3 784.9 729.9

402.0 404.6 441.8 468.6 478.7

7 752.8 8 001.5 8 382.9 8 977.3 9 479.8

241.4 272.5 300.4 336.7 368.2

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 062.0 1 130.7 1 225.4 1 405.3 1 599.6

145.2 148.8 155.0 165.3 170.6

1 045.0 1 029.1 1 070.7 1 138.3 1 176.9

456.0 544.1 608.1 645.4 664.6

18 370.2 19 690.9 21 078.8 23 177.3 25 281.7

3 689.6 3 895.1 4 173.4 4 868.0 5 619.7

207.7 206.4 209.7 221.4 260.9

762.8 833.8 934.2 1 251.5 1 538.8

1 570.7 1 711.7 1 826.3 2 019.0 2 293.5

638.6 604.8 605.0 714.6 819.4

509.8 538.4 598.3 661.5 707.0

10 207.9 10 798.4 11 645.6 12 795.9 13 887.6

380.8 393.1 431.4 452.5 478.1

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 796.7 1 959.3 2 107.8 2 264.0 2 431.9

181.5 192.0 199.8 207.6 219.1

1 192.3 1 298.1 1 442.0 1 559.7 1 674.9

727.6 683.9 754.6 808.9 891.1

26 979.7 28 934.9 31 173.5 33 948.9 36 745.7

6 195.0 6 883.8 7 480.1 8 063.7 8 208.2

272.6 278.6 288.2 285.6 289.5

1 794.4 2 099.1 2 323.2 2 559.7 2 605.9

2 493.2 2 831.8 3 158.6 3 489.1 3 542.2

891.5 985.0 1 071.4 1 124.0 1 184.1

743.2 689.4 638.7 605.3 586.6

14 764.5 15 866.6 17 073.1 18 252.9 19 863.9

511.8 551.7 629.4 666.7 717.8

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 993.8 2 033.2 2 067.8 2 107.8

190.5 196.9 199.4 199.8

1 320.0 1 370.1 1 393.0 1 442.0

714.7 728.1 736.5 754.6

29 377.8 29 881.0 30 416.3 31 173.5

7 096.0 7 218.0 7 324.4 7 480.1

280.9 280.0 287.7 288.2

2 163.1 2 203.3 2 259.2 2 323.2

2 956.4 3 042.6 3 085.2 3 158.6

998.9 1 017.0 1 031.7 1 071.4

696.7 675.1 660.5 638.7

16 057.4 16 244.4 16 600.9 17 073.1

575.4 590.7 604.2 629.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 139.8 2 176.1 2 217.2 2 264.0

198.3 202.8 205.6 207.6

1 466.1 1 521.0 1 529.8 1 559.7

774.6 783.3 782.9 808.9

31 731.0 32 464.3 33 164.2 33 948.9

7 589.2 7 672.9 7 910.3 8 063.7

283.7 281.7 286.7 285.6

2 389.8 2 419.4 2 549.7 2 559.7

3 226.6 3 289.1 3 371.3 3 489.1

1 065.5 1 085.9 1 100.0 1 124.0

623.6 596.8 602.5 605.3

17 355.2 17 802.6 17 964.0 18 252.9

641.5 652.1 656.1 666.7

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 298.7 2 341.1 2 386.9 2 431.9

205.6 212.5 217.5 219.1

1 598.6 1 626.9 1 644.8 1 674.9

829.9 814.7 839.1 891.1

34 565.1 35 132.3 35 895.8 36 745.7

8 109.0 8 168.6 8 216.0 8 208.2

286.8 283.8 289.9 289.5

2 555.7 2 603.8 2 631.3 2 605.9

3 510.2 3 523.5 3 543.6 3 542.2

1 145.8 1 152.6 1 162.5 1 184.1

610.6 604.9 588.7 586.6

18 692.9 18 996.8 19 318.8 19 863.9

674.1 687.4 700.3 717.8

266

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-5. Credit Market Debt Outstanding, By Borrower and Lender—Continued (Billions of dollars, except as noted; end of period; not seasonally adjusted.) Credit market assets held by:—Continued Selected domestic financial sectors—Continued

Year and quarter Commercial banks

Savings institutions

Credit unions

Life insurance companies

Propertycasualty insurance companies

Private pension funds

Money market mutual funds

Mutual funds

Assetbacked security issuers

Finance companies

Households

Foreign holdings in United States

All other financial and nonfinancial sectors

1945 1946 1947 1948 1949

................................. ................................. ................................. ................................. .................................

117.7 111.6 114.9 113.2 119.0

23.9 26.7 29.1 31.2 33.6

0.2 0.2 0.3 0.5 0.6

41.2 44.4 47.4 50.9 54.4

3.5 4.1 4.8 5.7 6.4

3.9 4.1 4.4 4.7 5.0

0.0 0.0 0.0 0.0 0.0

0.2 0.3 0.3 0.3 0.4

0.0 0.0 0.0 0.0 0.0

3.6 4.1 4.7 5.7 6.6

91.0 90.3 91.5 93.7 94.6

3.1 2.4 3.0 3.1 3.4

25.2 19.1 19.2 21.4 23.9

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

125.6 132.8 141.4 145.2 154.9

36.7 39.5 44.1 49.5 55.5

0.7 0.8 1.1 1.4 1.6

57.9 61.6 65.9 70.6 75.4

7.2 7.8 8.7 9.9 10.8

5.3 6.0 7.2 8.5 9.8

0.0 0.0 0.0 0.0 0.0

0.4 0.5 0.5 0.5 0.7

0.0 0.0 0.0 0.0 0.0

7.8 8.3 10.2 11.9 12.3

96.2 96.9 104.6 109.6 109.5

4.8 4.9 5.1 5.8 6.4

28.8 30.3 31.1 33.5 32.4

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

159.2 164.8 170.1 185.0 189.7

63.2 70.2 77.0 85.5 95.1

2.0 2.4 2.9 3.1 3.8

80.5 85.6 90.5 95.5 100.5

11.5 11.9 12.6 13.4 14.6

11.2 12.7 14.5 16.2 17.9

0.0 0.0 0.0 0.0 0.0

0.8 1.1 1.2 1.5 1.8

0.0 0.0 0.0 0.0 0.0

15.6 16.7 18.3 17.6 20.8

117.6 124.9 131.9 132.7 142.8

6.7 7.3 7.5 7.5 11.7

37.9 33.6 33.4 34.6 43.1

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

199.7 215.9 235.2 252.8 276.1

104.2 115.3 128.3 144.5 160.2

4.5 4.9 5.6 6.3 7.2

105.6 110.9 116.9 123.3 130.3

15.5 16.5 18.0 18.7 19.5

19.7 21.2 22.9 24.8 27.2

0.0 0.0 0.0 0.0 0.0

2.0 2.4 2.6 2.8 3.2

0.0 0.0 0.0 0.0 0.0

24.3 24.7 26.5 30.1 34.0

150.9 154.9 158.2 159.8 166.2

12.6 13.1 14.8 15.9 16.9

38.0 37.5 38.7 44.0 45.9

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

305.1 323.1 359.8 398.7 418.3

173.5 181.7 195.0 208.9 221.5

8.2 9.4 10.2 11.7 13.8

137.8 145.9 153.3 160.7 167.6

20.6 22.0 23.5 25.4 27.0

29.1 31.9 32.8 33.8 34.6

0.0 0.0 0.0 0.0 0.0

3.9 5.1 4.3 4.1 5.1

0.0 0.0 0.0 0.0 0.0

38.2 41.0 41.2 45.7 53.4

170.2 190.8 196.3 206.7 245.7

17.2 16.5 18.9 19.3 18.8

46.6 46.0 44.8 50.2 52.0

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

455.3 506.5 575.7 662.4 737.5

236.8 271.7 314.5 348.0 369.7

15.2 17.2 20.1 23.7 26.4

174.6 182.8 192.5 204.8 217.7

30.9 34.6 38.3 41.8 46.4

36.6 35.0 40.5 46.8 55.6

0.0 0.0 0.0 0.0 0.8

5.7 5.5 6.0 6.6 7.4

0.0 0.0 0.0 0.0 0.0

54.6 58.7 66.9 77.0 84.2

247.6 239.5 238.1 263.4 307.5

29.8 56.5 65.1 66.0 71.9

59.2 71.9 83.1 91.7 94.4

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

768.8 833.2 924.6 1 052.6 1 181.8

415.2 477.5 548.1 614.4 671.9

31.7 38.4 45.6 52.0 53.8

234.6 258.3 285.8 318.9 352.0

53.7 66.2 83.7 100.2 113.7

71.2 77.8 88.2 98.7 120.8

1.5 2.1 1.9 5.1 24.9

8.0 8.4 12.3 12.5 14.5

0.0 0.0 0.0 0.0 0.0

85.7 97.6 118.4 141.0 166.6

328.3 339.9 352.6 399.4 480.7

80.7 91.2 142.1 170.5 161.0

98.6 115.8 109.9 116.0 120.1

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

1 289.9 1 398.2 1 482.9 1 626.1 1 800.1

722.7 748.7 756.7 879.5 1 018.6

53.0 55.0 57.3 69.4 85.0

385.1 419.8 463.2 513.8 570.1

123.5 132.0 137.0 138.6 150.3

151.4 178.7 225.4 267.4 305.8

42.0 107.5 137.6 119.7 164.1

17.1 20.2 25.4 34.9 53.9

0.0 0.0 0.0 3.0 19.8

179.7 202.2 210.2 234.5 267.4

509.7 535.7 602.2 693.6 812.6

186.5 216.7 255.1 281.2 357.9

137.4 184.2 217.9 272.9 323.5

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

1 989.5 2 187.6 2 323.0 2 479.5 2 647.4

1 097.6 1 191.0 1 310.3 1 409.3 1 316.0

98.4 113.9 131.3 148.8 156.0

646.6 734.5 823.1 927.2 1 028.3

176.5 219.2 258.6 287.9 317.5

328.9 333.5 347.1 369.1 420.7

178.2 213.1 215.0 225.5 293.7

129.9 259.9 291.1 304.5 327.2

34.8 71.4 113.2 147.6 201.1

311.2 351.0 396.4 431.3 449.2

977.3 1 013.1 1 187.7 1 402.6 1 509.5

431.9 543.7 595.5 698.3 816.1

419.1 447.9 438.7 490.5 625.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

2 772.5 2 853.3 2 948.6 3 090.8 3 254.3

1 176.5 1 013.2 937.4 914.1 920.8

166.6 179.4 197.1 218.7 246.8

1 134.5 1 218.9 1 304.4 1 415.5 1 487.5

344.0 376.6 389.4 422.7 446.4

464.2 489.6 515.6 551.8 591.4

371.3 403.9 408.6 429.0 459.0

360.1 440.2 566.4 725.9 718.8

250.4 300.9 361.7 444.3 510.4

471.2 453.0 453.3 427.9 476.2

1 761.9 1 854.1 1 898.9 1 883.2 2 174.0

891.3 903.6 992.3 1 112.5 1 231.1

599.9 671.8 735.0 763.4 714.6

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

3 520.1 3 707.7 4 031.9 4 336.1 4 648.3

913.3 933.2 928.5 965.5 1 032.6

263.0 288.5 305.3 324.2 351.7

1 587.5 1 657.0 1 751.1 1 828.0 1 886.0

468.7 491.2 515.3 521.1 518.2

607.9 601.4 647.1 621.1 720.4

545.5 634.3 721.9 970.5 1 155.3

771.3 820.2 901.1 1 028.4 1 076.8

623.6 726.7 843.8 1 103.1 1 277.6

526.2 545.1 568.2 645.5 742.6

2 198.5 2 375.1 2 330.0 2 372.7 2 501.8

1 477.7 1 817.1 2 050.5 2 231.2 2 316.0

796.6 805.1 879.3 909.4 956.6

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

5 006.3 5 210.5 5 614.9 5 960.8 6 543.0

1 088.8 1 133.4 1 167.0 1 293.3 1 514.7

379.7 421.2 463.9 514.5 556.5

1 943.9 2 074.8 2 307.8 2 488.3 2 661.4

509.4 518.4 558.3 625.2 698.8

624.0 637.3 663.0 677.2 712.1

1 317.5 1 584.9 1 567.1 1 471.3 1 346.3

1 097.7 1 223.8 1 368.0 1 505.7 1 622.8

1 434.1 1 664.2 1 866.1 2 098.0 2 407.4

851.2 846.4 867.6 951.8 1 083.0

2 363.2 2 148.2 2 089.3 2 371.6 2 489.1

2 590.8 2 949.0 3 424.1 3 918.4 4 679.7

1 066.2 1 087.3 1 107.0 1 342.3 1 504.7

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 231.3 5 328.3 5 476.2 5 614.9

1 137.4 1 131.1 1 154.0 1 167.0

434.3 452.9 455.1 463.9

2 141.2 2 192.3 2 265.7 2 307.8

527.6 536.4 541.9 558.3

644.9 650.3 662.1 663.0

1 555.4 1 479.7 1 466.4 1 567.1

1 280.2 1 295.5 1 335.8 1 368.0

1 695.3 1 739.2 1 778.8 1 866.1

834.4 848.2 860.8 867.6

2 170.5 2 200.3 2 095.0 2 089.3

3 010.9 3 156.4 3 272.0 3 424.1

1 043.1 1 061.9 1 124.0 1 107.0

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 673.6 5 831.3 5 831.8 5 960.8

1 214.6 1 239.0 1 261.5 1 293.3

473.7 495.3 517.7 514.5

2 377.0 2 436.5 2 471.6 2 488.3

572.3 584.7 601.9 625.2

659.5 654.9 665.4 677.2

1 532.2 1 541.3 1 507.0 1 471.3

1 415.6 1 480.9 1 478.5 1 505.7

1 934.1 2 003.0 2 048.1 2 098.0

861.1 883.5 924.2 951.8

2 061.1 2 105.9 2 221.3 2 371.6

3 514.1 3 706.3 3 801.3 3 918.4

1 211.4 1 176.6 1 267.4 1 342.3

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 135.3 6 270.2 6 336.9 6 543.0

1 370.8 1 408.6 1 453.0 1 514.7

524.2 541.5 547.7 556.5

2 546.3 2 586.1 2 631.6 2 661.4

651.5 667.8 686.2 698.8

688.4 694.2 705.4 712.1

1 416.9 1 352.0 1 321.6 1 346.3

1 558.9 1 558.9 1 586.7 1 622.8

2 137.2 2 220.2 2 315.9 2 407.4

989.2 1 009.9 1 033.5 1 083.0

2 264.5 2 329.8 2 403.3 2 489.1

4 113.6 4 321.2 4 475.4 4 679.7

1 385.1 1 315.9 1 482.2 1 504.7

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

Figure 12-3. Ratios of Household Debt Service and Financial Obligations to Personal Disposable Income,1980–2004 40 Debt service ratio Financial obligations ratio–homeowners Financial obligations ratio–renters

Percent

30

20

10

0 1980

1985

1990

1995

2000

2004

Year

• The Federal Reserve calculates aggregate household debt service (payments of principal and interest) and total financial obligations as a percent of aggregate personal disposable income for the period 1980 to the present. These measures provide supplements to the ratio of the total level of household debt to income (as shown in Table 12-5) that are important and needed, because lengthening maturities and lower interest rates can mitigate much of the burden of a high level of debt. Like the debt/income ratio, the debt service ratio reached a new high at the end of 2002. Unlike the debt/income ratio, it has declined slightly since then, reflecting the decline in interest rates. (Tables 12-5, 12-6, and 12-9) • With increasing homeownership, a trend increase in the debt service ratio might be expected and no cause for concern. But other long-term trends have also come into play—increasing credit card use, increasing use of second mortgage (home equity) credit to finance purchases previously financed with consumer credit, and the increased use of auto leasing in place of auto purchase with consumer credit finance. To assess the financial condition of the personal sector while accounting for all of these trends, the Federal Reserve now makes available financial obligations ratios, which include all debt service, rental payments on primary residences, property taxes, homeowners’ insurance, and automobile lease payments. Furthermore, the Federal Reserve estimates the breakdown between homeowners and renters in order to calculate a ratio for each group. (Table 12-6) • Financial obligations ratios for both groups are, of course, higher than the ratio for debt service alone. Reflecting the lower average incomes of the renters’ group, the ratio for renters is about double the ratio for homeowners. The renters’ ratio peaked earlier, in the fourth quarter of 2001, and has improved more than the owners’ ratio. Both seem to show a long-term upward trend, which is more pronounced in the case of renters. (Table 12-6) • Additional evidence of the long-term trend toward more debt is seen in the ratio of aggregate household debt to aggregate household financial and tangible assets. This ratio has improved somewhat since the beginning of 2003, due to the rapid rise in the value of homes. (Tables 12-6 and 12-10)

267

268

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-6. Household Assets, Liabilities, Net Worth, Financial Obligations, and Delinquency Rates (Billions of dollars, except as noted; end of period; not seasonally adjusted, except as noted.) Financial assets of the household sector 1

Year and quarter Total 2

Checkable Time and deposits savings and deposits currency

Money market fund shares

U.S. savings bonds

AgencyCorporate Other Corporate and Treasury and GSE- Municipal Mortgages backed securities foreign equities securities securities bonds

Mutual fund shares

Security credit

Life insurance reserves

1945 1946 1947 1948 1949

................................. ................................. ................................. ................................. .................................

560.6 601.6 640.7 662.6 681.5

54.0 58.9 58.7 56.3 54.4

50.3 56.6 60.1 62.3 65.0

0.0 0.0 0.0 0.0 0.0

42.9 44.2 46.2 47.8 49.3

23.6 21.0 18.8 18.0 18.0

0.1 0.1 0.1 0.1 0.0

3.9 3.8 4.5 4.6 3.7

8.4 7.5 6.6 6.7 6.3

12.2 13.7 15.0 16.2 17.0

109.5 101.3 98.8 97.5 105.0

1.2 1.3 1.4 1.5 3.1

0.7 0.7 0.7 0.7 0.7

39.6 43.4 46.5 49.4 52.1

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

735.2 800.3 829.4 846.9 925.5

56.9 61.0 63.1 64.3 66.0

67.4 72.2 79.6 87.8 96.9

0.0 0.0 0.0 0.0 0.0

49.6 49.1 49.2 49.4 50.0

16.9 16.3 18.2 18.7 16.1

0.1 0.1 0.0 0.2 0.2

5.5 5.7 11.0 13.9 16.0

6.0 6.3 6.0 6.0 4.9

17.6 18.6 19.2 20.2 21.4

128.7 151.1 151.0 145.8 198.8

3.3 3.5 3.9 4.2 6.1

1.0 0.9 0.7 0.7 1.0

55.0 57.8 60.7 63.7 66.4

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

1 015.1 1 084.0 1 096.4 1 224.4 1 300.3

67.0 68.8 67.8 70.1 72.4

105.4 114.7 126.5 140.3 151.5

0.0 0.0 0.0 0.0 0.0

50.2 50.1 48.2 47.7 45.9

18.6 20.1 23.3 20.9 25.7

0.6 1.0 1.5 0.8 2.3

19.2 21.9 23.9 24.6 28.4

5.0 6.1 7.2 7.9 8.2

22.7 24.3 26.2 28.8 30.8

248.3 271.0 244.5 322.3 357.3

7.8 9.1 8.7 13.2 15.8

0.9 0.9 0.9 1.2 1.0

69.3 72.7 75.5 78.5 82.0

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 349.0 1 493.4 1 535.6 1 634.3 1 789.0

74.1 72.9 72.5 77.3 79.9

163.4 181.6 207.4 233.4 259.3

0.0 0.0 0.0 0.0 0.0

45.6 46.5 47.0 48.2 49.1

26.6 25.5 26.8 24.7 24.5

1.0 0.6 0.2 0.0 0.3

31.0 32.5 32.1 32.1 34.9

10.6 10.8 10.2 10.1 10.3

33.5 36.8 39.0 40.5 42.1

359.8 443.2 431.2 469.9 544.1

17.0 22.9 20.9 24.8 28.5

1.1 1.2 1.2 1.2 1.7

85.2 88.6 92.4 96.6 101.1

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 955.9 1 979.4 2 230.2 2 497.0 2 443.8

86.5 88.9 99.3 108.7 107.1

286.8 305.5 340.4 370.8 380.0

0.0 0.0 0.0 0.0 0.0

49.7 50.3 51.2 51.9 51.8

25.1 28.8 27.7 29.8 41.4

1.1 5.9 6.3 6.1 11.3

36.5 41.2 38.2 36.5 47.2

9.2 11.9 16.3 21.4 26.4

42.6 44.6 46.5 49.0 49.1

616.1 548.3 682.1 815.3 667.4

34.4 33.9 43.0 49.5 45.6

2.5 2.7 4.9 7.0 5.2

105.9 110.6 115.5 120.3 125.4

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 536.8 2 824.7 3 234.4 3 245.2 3 221.1

114.3 127.6 139.1 147.1 151.7

421.5 486.5 558.1 619.6 674.6

0.0 0.0 0.0 0.0 2.4

52.1 54.4 57.7 60.4 63.3

30.9 19.7 19.4 27.3 31.1

15.9 14.6 8.9 8.3 13.7

47.1 46.0 47.7 55.1 62.2

35.0 43.7 46.9 51.1 64.1

50.0 47.3 48.2 47.2 50.5

650.2 743.7 921.4 693.9 445.0

44.5 53.0 56.4 43.7 31.8

4.4 4.9 5.0 4.9 3.9

130.7 137.1 143.9 151.3 158.4

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

3 683.1 4 178.1 4 441.0 4 973.9 5 705.2

152.2 162.2 176.3 190.2 207.6

752.3 853.5 956.3 1 056.6 1 126.5

3.7 3.4 3.2 8.9 39.5

67.4 72.0 76.8 80.7 79.9

41.9 30.7 27.8 29.6 76.0

7.8 11.7 8.4 9.6 12.4

66.8 72.9 78.9 104.4 123.9

74.3 82.9 73.9 66.6 60.9

50.4 52.8 55.3 62.4 71.6

584.6 739.5 636.3 645.9 775.0

38.8 41.4 40.4 41.1 44.8

4.5 5.7 5.7 8.5 10.4

168.6 177.8 187.8 199.4 210.3

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

6 570.3 6 961.6 7 552.4 8 313.1 8 835.6

221.4 263.5 277.7 283.6 296.0

1 244.9 1 313.5 1 423.6 1 623.1 1 849.0

64.4 154.7 188.1 154.8 199.2

72.5 68.2 68.4 71.5 74.5

101.3 100.6 117.4 161.3 205.9

18.8 14.7 14.7 15.9 29.5

130.5 160.9 201.8 247.5 291.4

47.1 48.0 40.4 42.5 43.1

87.2 101.4 110.9 111.2 102.6

1 010.4 905.2 966.3 1 088.6 1 008.7

52.1 52.6 65.1 98.0 117.5

16.2 14.7 17.8 20.6 21.6

220.6 230.1 238.0 246.7 252.8

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

9 964.5 11 085.7 11 712.7 12 860.8 14 201.8

312.2 425.3 428.5 425.7 425.1

1 981.3 2 072.1 2 194.1 2 373.7 2 454.1

204.6 243.4 264.6 282.7 361.2

79.8 93.3 101.1 109.6 117.7

206.0 181.2 207.1 288.1 281.4

26.1 27.0 34.3 54.2 77.3

396.3 412.3 516.7 590.2 620.7

93.1 127.7 149.0 141.2 190.0

119.7 115.5 124.2 125.9 134.5

1 229.5 1 494.0 1 462.6 1 756.7 2 147.1

213.8 378.7 424.5 439.1 513.0

35.1 44.0 39.1 40.9 53.2

264.3 282.6 309.5 335.7 365.3

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

14 590.7 16 167.2 16 975.7 18 196.5 18 841.1

413.4 462.2 570.5 615.7 584.8

2 485.2 2 409.8 2 302.4 2 192.7 2 164.7

391.7 409.7 368.3 367.0 377.4

126.2 138.1 157.3 171.9 179.9

381.6 405.8 477.5 510.1 692.6

116.9 113.8 107.6 49.5 163.0

655.7 704.4 674.9 643.8 597.3

244.3 287.9 289.0 310.4 347.8

143.5 145.7 139.9 132.5 123.7

1 960.2 2 751.4 3 074.0 3 404.5 3 249.0

511.5 650.8 816.8 1 127.0 1 137.5

62.4 87.0 76.2 102.3 109.0

391.7 418.6 447.7 484.8 520.4

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

21 465.8 23 903.7 27 340.5 30 143.5 34 522.4

544.0 471.0 437.2 422.2 362.4

2 291.3 2 443.1 2 569.5 2 690.6 2 811.3

477.9 534.5 610.0 706.8 816.1

185.0 187.0 186.5 186.6 186.5

670.0 729.3 653.7 572.5 661.4

190.1 291.7 341.6 406.4 480.8

537.5 498.0 503.6 505.7 536.0

427.9 484.7 466.4 523.1 445.9

116.3 108.7 101.1 98.3 106.5

4 347.5 5 112.5 6 635.0 7 481.1 9 596.0

1 343.7 1 705.1 2 150.0 2 611.0 3 225.9

127.6 162.9 215.5 276.7 323.9

566.2 610.7 665.0 718.3 783.9

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

33 307.9 31 760.0 29 366.4 33 648.3 36 499.9

229.9 331.6 359.7 286.2 258.1

3 073.3 3 267.2 3 546.5 3 915.0 4 328.3

959.8 1 113.2 1 070.0 959.9 903.5

184.8 190.3 194.9 203.8 204.4

434.5 280.4 109.1 233.8 268.4

507.5 397.9 205.9 429.5 539.6

539.3 588.9 690.3 724.5 758.8

480.8 466.3 641.2 525.1 420.6

119.1 127.1 137.6 149.0 161.3

8 090.7 6 720.9 4 997.2 6 189.4 6 334.9

3 041.5 2 834.5 2 499.9 3 189.4 3 729.4

412.4 454.3 412.7 475.4 578.3

819.1 880.0 920.9 1 013.2 1 060.4

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31 412.2 32 316.6 30 290.6 31 760.0

265.2 262.2 275.3 331.6

3 176.7 3 200.7 3 262.1 3 267.2

1 042.8 1 009.3 1 062.4 1 113.2

184.8 185.5 186.4 190.3

394.6 305.3 306.2 280.4

402.0 403.1 412.5 397.9

558.9 590.3 580.0 588.9

518.7 520.6 474.6 466.3

120.8 123.0 124.9 127.1

6 861.1 7 250.3 5 996.2 6 720.9

2 724.3 2 920.0 2 570.0 2 834.5

412.0 412.9 494.8 454.3

823.0 840.3 844.0 880.0

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31 967.9 30 332.7 28 446.9 29 366.4

323.4 296.9 303.2 359.7

3 422.8 3 443.3 3 543.9 3 546.5

1 083.8 1 025.6 1 038.4 1 070.0

191.9 192.7 193.3 194.9

268.8 214.6 202.8 109.1

381.9 346.9 275.1 205.9

616.8 661.5 658.0 690.3

485.3 553.0 526.5 641.2

129.6 132.3 135.1 137.6

6 572.6 5 627.3 4 648.7 4 997.2

2 875.7 2 692.2 2 379.1 2 499.9

427.5 400.5 401.3 412.7

894.2 901.2 902.9 920.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

29 269.5 31 098.0 31 794.1 33 648.3

337.2 313.5 287.3 286.2

3 702.6 3 786.4 3 874.0 3 915.0

1 066.4 1 014.6 942.4 959.9

196.9 199.1 201.5 203.8

147.1 225.8 186.7 233.8

162.8 99.7 297.7 429.5

690.8 719.9 711.5 724.5

606.8 609.4 567.7 525.1

140.4 143.3 146.1 149.0

4 790.7 5 417.4 5 557.9 6 189.4

2 452.2 2 786.3 2 912.8 3 189.4

429.6 515.1 503.4 475.4

936.3 959.7 973.0 1 013.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

34 173.0 34 566.9 34 645.3 36 499.9

279.2 232.8 226.9 258.1

4 091.7 4 169.1 4 261.8 4 328.3

953.6 912.4 856.5 903.5

204.4 204.6 204.1 204.4

217.0 229.6 202.7 268.4

360.1 434.0 568.5 539.6

731.4 751.2 747.5 758.8

483.8 437.4 400.6 420.6

152.0 155.2 158.3 161.3

6 106.4 6 136.2 5 884.3 6 334.9

3 397.2 3 424.1 3 440.5 3 729.4

512.9 533.9 524.3 578.3

1 022.5 1 031.9 1 038.2 1 060.4

1Includes 2Includes

nonprofit organizations. components not shown separately.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

269

Table 12-6. Household Assets, Liabilities, Net Worth, Financial Obligations, and Delinquency Rates —Continued (Billions of dollars, except as noted; end of period; not seasonally adjusted, except as noted.) Financial assets of the household sector 1—Continued Year and quarter Pension fund reserves

Equity in noncorporate business

Tangible assets of the household sector

Total 1

Household real estate 3

Ratios to disposable personal income (percent, seasonally adjusted) Debt as a percent of total assets 1

Total liabilities 1

Net worth 1

Consumer credit card accounts held at banks, percents

Household financial obligations Household debt service

Total

Homeowners

Renters

Delinquency rate (seas. adjusted)

Chargeoff rate

1945 1946 1947 1948 1949

................................. ................................. ................................. ................................. .................................

12.3 13.5 15.8 18.3 21.1

195.9 228.6 259.7 275.0 277.3

181.3 212.9 253.6 284.9 310.2

116.0 133.4 158.9 180.0 196.9

3.8 4.3 4.9 5.5 6.1

30.3 37.1 46.1 54.7 63.0

711.6 777.3 848.3 892.8 928.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1950 1951 1952 1953 1954

................................. ................................. ................................. ................................. .................................

24.3 27.9 33.5 38.5 43.9

293.6 319.8 321.7 321.2 325.3

357.7 398.2 431.0 460.0 486.7

222.4 249.1 272.7 293.1 315.4

6.7 6.8 7.4 8.1 8.3

76.3 85.0 97.4 110.1 122.4

1 016.5 1 113.6 1 163.1 1 196.8 1 289.9

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1955 1956 1957 1958 1959

................................. ................................. ................................. ................................. .................................

52.0 58.2 64.6 75.0 85.0

334.7 351.2 363.1 377.9 378.8

530.6 573.0 608.0 634.3 669.4

344.7 371.4 394.4 415.9 441.1

8.9 9.2 9.7 9.5 10.0

143.5 158.8 171.2 183.3 205.7

1 402.2 1 498.2 1 533.2 1 675.4 1 764.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

93.9 107.2 113.7 128.0 144.8

389.2 406.0 422.5 427.1 446.4

700.4 732.0 765.3 800.8 843.9

464.4 488.6 510.8 531.3 557.0

10.5 10.4 11.0 11.5 11.8

223.4 241.2 263.3 292.0 321.2

1 826.0 1 984.2 2 037.6 2 143.1 2 311.7

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

162.0 172.5 195.6 218.7 230.9

472.9 506.4 531.3 576.3 610.6

888.6 960.2 1 026.4 1 148.6 1 252.9

582.2 624.5 660.2 740.8 804.3

11.9 12.3 11.7 11.3 12.0

350.7 373.9 398.1 433.2 461.1

2 493.8 2 565.7 2 858.5 3 212.4 3 235.5

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

253.8 293.5 349.3 358.5 367.5

641.4 707.8 789.1 925.9 1 038.3

1 331.8 1 453.4 1 644.3 1 864.2 1 971.6

845.6 925.8 1 064.7 1 213.9 1 219.3

11.8 11.7 11.4 12.3 13.2

476.4 522.7 584.6 652.1 707.5

3 392.3 3 755.3 4 294.1 4 457.4 4 485.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

467.0 534.5 589.9 691.4 801.1

1 139.1 1 270.2 1 435.3 1 668.1 1 937.1

2 186.8 2 431.7 2 823.2 3 269.4 3 802.5

1 369.1 1 541.6 1 831.9 2 149.4 2 534.1

12.5 12.4 13.1 13.4 13.4

762.9 852.2 983.2 1 146.6 1 318.8

5 107.0 5 757.5 6 280.9 7 096.7 8 189.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

969.7 1 063.5 1 289.1 1 535.7 1 707.0

2 181.6 2 340.6 2 385.9 2 449.0 2 448.9

4 271.7 4 729.3 4 953.2 5 196.0 5 822.0

2 867.2 3 213.9 3 367.2 3 522.1 4 027.4

12.9 12.9 12.6 12.8 13.3

1 448.6 1 560.5 1 634.2 1 801.7 2 012.6

9 393.4 10 130.3 10 871.3 11 707.5 12 644.9

10.6 10.6 10.6 10.6 11.0

15.4 15.6 15.6 15.6 16.0

13.3 13.5 13.8 13.7 13.9

23.7 24.2 22.4 22.8 23.8

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

2 088.1 2 325.1 2 502.4 2 736.0 3 166.6

2 506.2 2 635.8 2 700.5 2 849.1 2 971.2

6 500.3 7 096.4 7 813.0 8 473.1 9 138.6

4 574.0 5 001.0 5 501.1 5 976.2 6 473.6

13.8 13.9 14.1 14.2 14.3

2 362.8 2 629.0 2 836.7 3 136.3 3 446.1

14 102.0 15 553.0 16 688.9 18 197.7 19 894.4

11.8 12.3 12.0 11.8 12.0

17.1 17.7 17.4 17.1 17.4

14.9 15.4 15.3 15.0 15.5

25.7 26.4 26.2 25.3 24.8

... ... ... ... ...

3.0 3.5 3.3 3.3 3.3

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

3 305.6 3 822.4 4 127.8 4 603.2 4 886.0

3 051.1 3 033.1 3 006.0 3 115.0 3 320.1

9 349.3 9 626.4 9 977.6 10 305.6 10 638.7

6 576.0 6 809.6 7 122.1 7 357.7 7 523.2

15.0 14.7 14.8 14.8 15.4

3 715.1 3 930.0 4 135.4 4 403.3 4 730.4

20 224.9 21 863.6 22 817.8 24 098.9 24 749.4

12.0 11.5 10.8 10.8 11.2

17.4 17.0 16.2 16.2 16.7

15.5 15.2 14.3 14.2 14.5

24.7 23.6 23.4 23.9 25.2

... 5.3 4.7 3.9 3.3

3.9 4.7 4.6 3.4 3.1

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

5 695.2 6 339.8 7 300.9 8 185.0 9 192.2

3 534.4 3 786.9 4 050.7 4 289.4 4 501.0

11 243.1 11 724.8 12 387.9 13 399.1 14 479.2

7 990.1 8 320.7 8 779.8 9 545.6 10 395.6

14.9 14.6 13.9 13.6 13.1

5 067.7 5 424.1 5 781.6 6 240.0 6 817.0

27 641.1 30 204.4 33 946.8 37 302.6 42 184.6

11.9 12.1 12.1 12.1 12.4

17.5 17.7 17.7 17.5 17.9

15.2 15.4 15.5 15.2 15.5

27.0 27.3 27.4 28.2 29.4

3.9 4.6 4.8 4.7 4.5

4.0 4.7 5.6 5.3 4.6

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

9 000.1 8 571.8 7 814.8 9 193.6 10 115.3

4 883.5 4 990.4 5 161.3 5 527.7 6 098.3

15 778.7 17 008.9 18 401.4 20 025.6 22 531.3

11 401.1 12 491.5 13 679.8 15 084.8 17 243.3

14.3 15.6 17.5 17.2 17.4

7 397.1 7 969.9 8 675.7 9 588.1 10 702.0

41 689.5 40 799.1 39 092.1 44 085.8 48 329.2

12.8 13.3 13.4 13.2 13.2

18.2 18.8 18.6 18.2 18.0

15.7 16.2 16.2 15.8 15.9

30.6 31.8 30.8 30.8 29.3

4.6 4.7 4.8 4.4 4.0

4.7 6.3 5.4 5.9 4.6

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 454.5 8 769.9 8 138.3 8 571.8

4 944.6 4 988.0 5 016.0 4 990.4

16 145.7 16 447.8 16 749.8 17 008.9

11 723.9 11 998.8 12 273.3 12 491.5

14.9 14.9 15.8 15.6

7 434.5 7 611.2 7 841.1 7 969.9

40 123.4 41 153.2 39 199.3 40 799.1

12.9 13.1 12.9 13.3

18.3 18.5 18.2 18.8

15.8 16.0 15.7 16.2

30.7 31.0 31.1 31.8

4.8 5.0 5.0 4.7

5.1 5.2 5.2 6.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 740.6 8 236.4 7 550.2 7 814.8

5 004.2 5 041.9 5 101.5 5 161.3

17 295.5 17 654.1 18 070.2 18 401.4

12 735.4 13 043.7 13 397.7 13 679.8

15.7 16.5 17.5 17.5

8 081.4 8 242.3 8 430.9 8 675.7

41 182.1 39 744.5 38 086.3 39 092.1

13.1 13.2 13.3 13.4

18.5 18.5 18.6 18.6

15.9 16.0 16.1 16.2

31.4 31.1 31.1 30.8

4.9 4.8 4.9 4.8

7.7 6.1 5.7 5.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 752.3 8 383.2 8 592.4 9 193.6

5 229.1 5 300.5 5 401.7 5 527.7

18 695.8 18 996.7 19 381.3 20 025.6

13 924.2 14 175.0 14 503.2 15 084.8

17.8 17.5 17.6 17.2

8 836.1 9 173.6 9 410.8 9 588.1

39 129.2 40 921.1 41 764.7 44 085.8

13.3 13.3 13.1 13.2

18.5 18.4 18.2 18.2

16.1 16.0 15.8 15.8

30.8 30.7 30.5 30.8

4.7 4.6 4.2 4.4

5.6 5.9 5.2 5.9

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 396.1 9 497.0 9 493.9 10 115.3

5 592.6 5 735.7 5 935.4 6 098.3

20 434.1 21 041.7 21 946.0 22 531.3

15 413.6 15 935.3 16 766.0 17 243.3

17.3 17.4 17.6 17.4

9 799.0 10 058.3 10 369.5 10 702.0

44 808.1 45 550.3 46 221.9 48 329.2

13.1 13.1 13.3 13.2

18.1 18.1 18.2 18.0

15.8 15.8 16.0 15.9

30.3 30.0 29.8 29.3

4.2 4.2 4.1 4.0

5.2 5.2 4.5 4.6

1Includes nonprofit organizations. 3Excludes nonprofit organizations.

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

270

Table 12-7. Mortgage Debt Outstanding (Billions of dollars, except as noted; end of period; not seasonally adjusted.) By type of property

By type of holder

Home Year and quarter

Total Billions of dollars

Mortgage pools or trusts

Percent Multi-family Commercial of value residences of real estate

Farm

Federal Life Commercial Savings insurance and banks institutions companies related agencies

Total 1

Federally ABS related agencies issuers

Other

1945 ..................................................... 1946 ..................................................... 1947 ..................................................... 1948 ..................................................... 1949 .....................................................

36 42 49 56 63

19 23 28 33 37

14 15 16 17 17

5 5 6 7 8

8 9 10 11 12

5 5 5 5 6

5 7 9 11 12

10 12 14 16 18

7 7 9 11 13

2 2 2 2 2

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

10 12 15 17 18

1950 ..................................................... 1951 ..................................................... 1952 ..................................................... 1953 ..................................................... 1954 .....................................................

73 82 91 101 113

45 51 58 66 75

18 19 21 22 24

9 11 11 12 13

13 14 14 16 17

6 7 7 8 8

14 15 16 17 19

22 25 29 34 40

16 19 21 23 26

3 3 4 5 5

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

20 21 21 22 24

1955 ..................................................... 1956 ..................................................... 1957 ..................................................... 1958 ..................................................... 1959 .....................................................

129 144 156 172 191

88 98 107 117 130

25 26 27 28 29

13 14 15 17 19

19 22 24 27 30

9 10 10 11 12

21 23 23 26 28

48 55 60 68 77

29 33 35 37 39

5 6 7 8 10

0 0 0 0 0

0 0 0 0 0

0 0 0 0 0

26 28 30 33 36

1960 ..................................................... 1961 ..................................................... 1962 ..................................................... 1963 ..................................................... 1964 .....................................................

208 228 252 278 306

141 153 167 184 201

30 31 33 35 36

21 24 27 30 35

33 37 42 47 51

13 14 15 17 19

29 30 34 39 44

86 96 109 125 140

42 44 47 51 55

11 12 12 11 12

0 0 0 1 1

0 0 0 1 1

0 0 0 0 0

40 45 49 52 55

1965 ..................................................... 1966 ..................................................... 1967 ..................................................... 1968 ..................................................... 1969 .....................................................

334 358 381 411 439

219 232 245 262 278

38 37 37 35 35

38 41 45 48 53

56 61 66 73 79

21 23 25 27 29

50 54 59 65 71

153 160 170 182 194

60 65 68 70 72

13 16 19 23 28

1 1 2 3 3

1 1 2 3 3

0 0 0 0 0

58 61 64 68 72

1970 ..................................................... 1971 ..................................................... 1972 ..................................................... 1973 ..................................................... 1974 .....................................................

469 518 590 666 728

292 318 357 400 435

35 34 34 33 36

60 70 83 93 100

87 97 114 134 148

30 32 35 40 45

73 83 99 119 132

205 231 268 300 321

74 75 77 81 86

34 37 40 47 61

5 10 14 18 21

5 10 14 18 21

0 0 0 0 0

78 82 91 101 107

1975 ..................................................... 1976 ..................................................... 1977 ..................................................... 1978 ..................................................... 1979 .....................................................

786 870 999 1 151 1 317

474 535 628 738 856

35 35 34 34 34

101 106 114 125 135

161 174 193 215 239

50 55 64 73 87

136 151 179 214 245

351 398 459 517 565

89 92 97 106 118

73 76 84 100 121

29 41 57 70 95

29 41 57 70 95

0 0 0 0 0

108 113 123 143 172

1980 ..................................................... 1981 ..................................................... 1982 ..................................................... 1983 ..................................................... 1984 .....................................................

1 458 1 579 1 661 1 850 2 092

958 1 030 1 070 1 186 1 321

33 32 32 34 33

143 142 146 161 186

260 300 334 389 472

97 107 111 114 112

263 284 301 331 381

594 612 576 627 710

131 138 142 151 157

143 160 177 188 202

114 129 179 245 300

114 129 179 245 289

0 0 0 0 11

213 256 286 309 342

1985 ..................................................... 1986 ..................................................... 1987 ..................................................... 1988 ..................................................... 1989 .....................................................

2 372 2 659 2 961 3 278 3 548

1 519 1 722 1 921 2 154 2 379

33 34 35 36 37

206 239 259 275 288

542 603 694 766 801

106 95 88 83 80

431 505 595 677 771

766 785 824 888 873

172 194 212 233 254

213 202 189 192 198

393 550 702 787 923

368 532 669 745 870

25 19 32 41 53

398 424 440 501 530

1990 ..................................................... 1991 ..................................................... 1992 ..................................................... 1993 ..................................................... 1994 .....................................................

3 803 3 954 4 066 4 202 4 373

2 615 2 783 2 951 3 113 3 293

40 41 41 42 44

288 285 272 269 270

821 807 763 740 727

79 79 80 81 83

849 881 901 948 1 013

802 705 628 598 596

268 260 242 224 216

239 266 286 326 316

1 088 1 273 1 446 1 571 1 712

1 020 1 156 1 272 1 357 1 472

68 116 174 214 240

557 569 564 535 520

1995 ..................................................... 1996 ..................................................... 1997 ..................................................... 1998 ..................................................... 1999 .....................................................

4 562 4 836 5 156 5 645 6 253

3 464 3 691 3 932 4 292 4 714

43 44 45 45 45

276 288 300 334 376

739 769 833 922 1 059

85 87 91 97 104

1 090 1 145 1 245 1 337 1 495

597 628 632 644 668

213 208 207 214 231

308 294 285 292 320

1 831 2 014 2 199 2 531 2 886

1 571 1 712 1 826 2 019 2 294

261 302 372 512 592

523 546 588 628 653

2000 ..................................................... 2001 ..................................................... 2002 ..................................................... 2003 ..................................................... 2004 .....................................................

6 808 7 481 8 317 9 331 10 529

5 122 5 632 6 317 7 120 8 080

45 45 46 47 47

406 448 487 557 609

1 170 1 284 1 387 1 520 1 699

110 118 126 134 142

1 660 1 790 2 058 2 256 2 595

723 758 781 871 1 058

236 243 250 261 273

341 373 434 537 554

3 152 3 605 4 029 4 550 5 042

2 493 2 832 3 159 3 489 3 542

659 773 871 1 061 1 500

695 712 764 857 1 006

2001 1st quarter ....................................... 2nd quarter ...................................... 3rd quarter ....................................... 4th quarter .......................................

6 930 7 124 7 309 7 481

5 212 5 367 5 507 5 632

44 45 45 45

414 424 435 448

1 193 1 218 1 251 1 284

111 114 116 118

1 688 1 722 1 737 1 790

740 752 758 758

235 237 239 243

344 353 359 373

3 219 3 343 3 484 3 605

2 536 2 637 2 760 2 832

684 706 724 773

703 716 731 712

2002 1st quarter ....................................... 2nd quarter ...................................... 3rd quarter ....................................... 4th quarter .......................................

7 638 7 843 8 069 8 317

5 764 5 929 6 120 6 317

45 45 46 46

454 463 470 487

1 301 1 329 1 354 1 387

119 122 125 126

1 800 1 873 1 962 2 058

746 743 774 781

243 245 246 250

381 392 408 434

3 752 3 863 3 938 4 029

2 956 3 043 3 085 3 159

796 820 852 871

715 728 741 764

2003 1st quarter ....................................... 2nd quarter ...................................... 3rd quarter ....................................... 4th quarter .......................................

8 530 8 806 9 090 9 331

6 495 6 715 6 946 7 120

47 47 48 47

497 516 533 557

1 411 1 445 1 479 1 520

128 130 132 134

2 099 2 193 2 264 2 256

816 834 852 871

251 254 257 261

456 490 525 537

4 139 4 235 4 361 4 550

3 227 3 289 3 371 3 489

912 945 990 1 061

768 800 831 857

2004 1st quarter ....................................... 2nd quarter ...................................... 3rd quarter ....................................... 4th quarter .......................................

9 593 9 863 10 231 10 529

7 335 7 552 7 856 8 080

48 47 47 47

565 582 594 609

1 558 1 590 1 640 1 699

135 138 141 142

2 329 2 436 2 517 2 595

927 967 1 009 1 058

262 264 268 273

543 543 548 554

4 652 4 746 4 924 5 042

3 510 3 523 3 544 3 542

1 141 1 222 1 381 1 500

880 907 963 1 006

1Outstanding

principal balances of mortgage-backed securities issued or guaranteed by the holder indicated.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

271

Table 12-8. Consumer Credit (Outstanding at end of period, billions of dollars.) Seasonally adjusted

Not seasonally adjusted

By major credit type

By major holder

Year and month Total Revolving

Nonrevolving

Total

Commercial banks

Finance companies

Credit unions

Federal government and Sallie Mae

Savings institutions

Nonfinancial Securitized businesses pools 1

1945 1946 1947 1948 1949

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

6.6 9.4 12.9 15.8 18.8

0.0 0.0 0.0 0.0 0.0

6.6 9.4 12.9 15.8 18.8

6.8 9.8 13.3 16.3 19.4

2.2 3.8 5.4 6.6 7.7

0.9 1.5 2.4 3.2 4.3

0.0 0.0 0.1 0.1 0.2

0.0 0.0 0.0 0.0 0.0

0.3 0.4 0.6 0.7 0.7

3.4 4.0 4.9 5.8 6.4

0.0 0.0 0.0 0.0 0.0

1950 1951 1952 1953 1954

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

23.2 24.6 29.7 33.7 35.0

0.0 0.0 0.0 0.0 0.0

23.2 24.6 29.7 33.7 35.0

23.9 25.4 30.5 34.6 36.0

9.7 10.0 12.3 14.0 14.3

5.3 5.6 7.1 8.6 9.1

0.3 0.3 0.6 0.9 1.1

0.0 0.0 0.0 0.0 0.0

0.9 0.9 0.9 1.0 1.1

7.7 8.5 9.7 10.1 10.5

0.0 0.0 0.0 0.0 0.0

1955 1956 1957 1958 1959

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

41.9 45.4 48.1 48.4 56.0

0.0 0.0 0.0 0.0 0.0

41.9 45.4 48.1 48.4 56.0

42.9 46.6 49.2 49.5 57.2

17.2 18.9 20.2 20.7 24.2

11.8 12.7 13.2 12.3 14.1

1.3 1.7 2.1 2.3 2.9

0.0 0.0 0.0 0.0 0.0

1.4 1.5 1.6 1.8 2.1

11.2 11.8 12.1 12.3 14.0

0.0 0.0 0.0 0.0 0.0

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

60.0 62.2 68.1 76.6 86.0

0.0 0.0 0.0 0.0 0.0

60.0 62.2 68.1 76.6 86.0

61.2 63.4 69.3 77.9 87.4

26.4 27.9 30.6 34.7 39.8

15.4 15.5 17.3 19.6 21.6

3.4 3.6 4.1 4.5 5.4

0.0 0.0 0.0 0.0 0.0

2.4 2.9 3.0 3.6 3.7

13.5 13.6 14.3 15.5 16.8

0.0 0.0 0.0 0.0 0.0

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

96.0 101.8 106.8 117.4 127.2

0.0 0.0 0.0 2.0 3.6

96.0 101.8 106.8 115.4 123.6

97.5 103.4 108.6 119.3 129.2

45.2 48.2 51.7 58.5 63.4

23.9 24.8 24.6 26.1 27.8

6.5 7.5 8.3 9.7 11.7

0.0 0.0 0.0 0.0 0.0

3.9 4.0 4.1 4.3 4.4

18.1 19.0 19.9 20.8 21.9

0.0 0.0 0.0 0.0 0.0

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

131.6 146.9 166.2 190.1 198.9

5.0 8.2 9.4 11.3 13.2

126.6 138.7 156.8 178.7 185.7

133.7 149.2 168.8 193.0 201.9

65.6 74.3 87.0 99.6 103.0

27.6 29.2 31.9 35.4 36.1

13.0 14.8 17.0 19.6 21.9

0.0 0.0 0.0 0.0 0.0

4.4 4.7 5.1 8.5 9.1

23.0 26.2 27.8 29.8 31.8

0.0 0.0 0.0 0.0 0.0

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

204.0 225.7 260.6 306.1 348.6

14.5 16.5 37.4 45.7 53.6

189.5 209.2 223.1 260.4 295.0

207.0 229.0 264.9 311.3 354.6

106.1 118.0 140.3 166.5 185.7

32.6 33.7 37.3 44.4 55.4

25.7 31.2 37.6 45.2 47.4

0.0 0.0 0.5 0.9 1.5

10.1 10.8 11.8 13.1 20.0

32.6 35.2 37.4 41.2 44.6

0.0 0.0 0.0 0.0 0.0

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

351.9 371.3 389.8 437.1 517.3

55.0 60.9 66.3 79.0 100.4

297.0 310.4 323.5 358.0 416.9

358.0 377.9 396.7 444.9 526.6

180.2 184.2 190.9 213.7 258.8

62.2 70.1 75.3 83.3 89.9

44.1 46.7 48.8 56.1 67.9

2.6 4.8 6.4 4.6 5.6

22.7 24.0 26.6 31.5 44.2

46.2 48.1 48.7 55.7 60.2

0.0 0.0 0.0 0.0 0.0

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

599.7 654.8 686.3 731.9 794.6

124.5 141.1 160.9 184.6 211.2

475.2 513.7 525.5 547.3 583.4

610.6 666.4 698.6 745.2 809.3

297.2 320.2 334.1 360.8 383.3

111.7 134.0 140.0 144.7 138.9

74.0 77.1 81.0 88.3 91.7

6.8 8.2 10.0 13.2 16.0

57.6 62.9 65.3 66.8 62.5

63.3 64.0 68.1 71.4 69.6

0.0 0.0 0.0 0.0 47.3

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

808.2 798.0 806.1 865.7 997.1

238.6 263.8 278.4 309.9 365.6

569.6 534.3 527.7 555.7 631.6

824.4 815.6 824.8 886.2 1 021.0

382.0 370.2 362.9 395.7 458.8

133.4 121.6 118.1 116.1 134.4

91.6 90.3 91.7 101.6 119.6

19.2 21.1 24.2 27.2 37.1

49.6 42.2 37.4 37.9 38.5

71.9 67.3 70.3 77.2 86.6

76.7 103.0 120.3 130.5 146.1

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 141.0 1 242.9 1 320.1 1 417.3 1 530.4

443.5 499.6 536.7 578.0 606.8

697.5 743.2 783.4 839.3 923.6

1 168.4 1 272.4 1 341.8 1 439.1 1 553.2

502.3 527.5 515.1 513.6 510.2

152.1 154.9 167.5 183.3 201.6

131.9 144.1 152.4 155.4 167.9

44.2 51.3 57.8 65.7 84.7

40.1 44.7 47.2 52.4 61.7

85.1 77.7 84.4 79.3 78.6

212.6 272.1 317.4 389.4 448.4

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 707.4 1 838.8 1 925.5 2 015.3 2 106.0

678.5 716.6 736.4 758.3 787.5

1 028.9 1 122.2 1 189.2 1 257.1 1 318.5

1 732.7 1 865.4 1 952.8 2 043.2 2 135.6

554.0 571.8 606.4 675.0 711.4

220.5 238.1 237.8 295.4 367.1

184.4 189.6 195.7 205.9 215.4

104.0 119.5 129.6 114.7 98.4

64.8 71.1 68.7 77.9 91.3

83.7 75.6 77.5 63.3 64.8

521.3 599.7 637.1 611.0 587.3

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

2 025.1 2 028.8 2 037.6 2 041.9 2 047.2 2 053.0

761.2 761.7 765.4 763.0 764.3 766.0

1 264.0 1 267.1 1 272.2 1 278.9 1 282.9 1 287.0

2 045.7 2 030.7 2 028.0 2 030.0 2 035.9 2 039.8

675.4 667.4 663.7 666.9 673.0 666.7

302.2 303.8 307.4 311.2 320.1 324.7

206.1 205.6 207.1 207.7 209.1 211.7

115.7 114.2 109.8 104.9 99.8 94.8

79.1 80.2 81.4 83.6 85.9 88.1

61.5 60.5 60.0 60.2 60.6 60.5

605.7 599.0 598.6 595.3 587.3 593.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

2 061.8 2 070.2 2 083.4 2 101.5 2 100.0 2 106.0

772.9 775.8 783.9 793.0 785.8 787.5

1 288.9 1 294.4 1 299.6 1 308.5 1 314.2 1 318.5

2 046.9 2 065.2 2 084.6 2 106.0 2 108.7 2 135.6

670.4 680.1 682.8 683.6 681.4 711.4

331.0 339.0 352.7 363.8 373.5 367.1

211.8 213.9 214.5 215.7 216.1 215.4

93.7 94.2 99.2 99.3 98.6 98.4

88.5 88.8 89.2 89.9 90.6 91.3

60.1 60.7 59.1 59.3 60.3 64.8

591.4 588.4 587.2 594.4 588.3 587.3

1Outstanding

balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators.

272

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 12-9. Selected Interest Rates and Bond Yields (Percent per annum; interest rates are nominal [not adjusted for inflation], except as noted.) Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

1954 ...............................

Eurodollar deposits, 1-month

U.S. Treasury bills, secondary market, 3-month

U.S. Treasury bills, secondary market, 6-month

Commercial paper, 3-month 2

CDs (secondary market), 3-month

Bank prime rate

Inflation: percent Real federal change in PCE funds rate chain-type (nominal rate price index minus inflation) excluding food and energy

...

...

...

0.94

...

...

...

...

...

...

1955 1956 1957 1958 1959

............................... ............................... ............................... ............................... ...............................

1.79 2.73 3.11 1.57 3.31

... 2.77 3.12 2.15 3.36

... ... ... ... ...

1.72 2.62 3.22 1.77 3.39

... ... ... 3.01 3.81

... ... ... ... ...

... ... ... ... ...

... 3.77 4.20 3.83 4.48

1.21 2.51 2.99 2.15 2.16

0.58 0.22 0.12 -0.58 1.15

1960 1961 1962 1963 1964

............................... ............................... ............................... ............................... ...............................

3.21 1.95 2.71 3.18 3.50

3.53 3.00 3.00 3.23 3.55

... ... ... ... ...

2.87 2.35 2.77 3.16 3.55

3.20 2.59 2.90 3.26 3.68

... ... ... ... ...

... ... ... ... 3.92

4.82 4.50 4.50 4.50 4.50

1.67 1.21 1.25 1.20 1.45

1.54 0.74 1.46 1.98 2.05

1965 1966 1967 1968 1969

............................... ............................... ............................... ............................... ...............................

4.07 5.11 4.22 5.66 8.21

4.04 4.50 4.19 5.17 5.87

... ... ... ... ...

3.95 4.86 4.29 5.34 6.67

4.05 5.06 4.61 5.47 6.86

... ... ... ... ...

4.36 5.45 4.99 5.82 7.23

4.54 5.63 5.63 6.31 7.96

1.22 2.09 2.88 4.25 4.64

2.85 3.02 1.34 1.41 3.57

1970 1971 1972 1973 1974

............................... ............................... ............................... ............................... ...............................

7.17 4.67 4.44 8.74 10.51

5.95 4.88 4.50 6.45 7.83

... 6.40 5.00 9.19 10.79

6.39 4.33 4.06 7.04 7.85

6.51 4.52 4.47 7.20 7.95

... 5.25 4.66 8.21 10.05

7.55 5.00 4.66 9.30 10.29

7.91 5.73 5.25 8.03 10.81

4.53 4.65 3.24 3.64 7.51

2.64 0.02 1.20 5.10 3.00

1975 1976 1977 1978 1979

............................... ............................... ............................... ............................... ...............................

5.82 5.05 5.54 7.94 11.20

6.25 5.50 5.46 7.46 10.29

6.35 5.26 5.75 8.33 11.66

5.79 4.98 5.26 7.18 10.05

6.10 5.26 5.52 7.58 10.04

6.26 5.24 5.54 7.93 10.95

6.44 5.27 5.63 8.21 11.20

7.86 6.84 6.83 9.06 12.67

8.28 6.11 6.35 6.59 6.97

-2.46 -1.06 -0.81 1.35 4.23

1980 1981 1982 1983 1984

............................... ............................... ............................... ............................... ...............................

13.35 16.39 12.24 9.09 10.23

11.77 13.42 11.01 8.50 8.80

13.77 16.72 12.74 9.38 10.45

11.39 14.04 10.60 8.62 9.54

11.32 13.81 11.06 8.74 9.78

12.61 15.34 11.90 8.88 10.12

13.02 15.93 12.27 9.07 10.39

15.26 18.87 14.85 10.79 12.04

9.04 8.71 6.57 5.27 4.16

4.31 7.68 5.67 3.82 6.07

1985 1986 1987 1988 1989

............................... ............................... ............................... ............................... ...............................

8.10 6.80 6.66 7.57 9.21

7.69 6.32 5.66 6.20 6.93

8.12 6.78 6.88 7.69 9.16

7.47 5.97 5.78 6.67 8.11

7.65 6.02 6.03 6.91 8.03

7.95 6.49 6.82 7.66 8.99

8.04 6.51 6.87 7.73 9.09

9.93 8.33 8.21 9.32 10.87

3.83 3.75 3.70 4.33 4.13

4.27 3.05 2.96 3.24 5.08

1990 1991 1992 1993 1994

............................... ............................... ............................... ............................... ...............................

8.10 5.69 3.52 3.02 4.21

6.98 5.45 3.25 3.00 3.60

8.15 5.81 3.62 3.07 4.34

7.50 5.38 3.43 3.00 4.25

7.46 5.44 3.54 3.12 4.64

8.06 5.87 3.75 3.22 4.66

8.15 5.83 3.68 3.17 4.63

10.01 8.46 6.25 6.00 7.15

4.26 3.91 3.41 2.56 2.31

3.84 1.78 0.11 0.46 1.90

1995 1996 1997 1998 1999

............................... ............................... ............................... ............................... ...............................

5.83 5.30 5.46 5.35 4.97

5.21 5.02 5.00 4.92 4.62

5.86 5.32 5.52 5.45 5.15

5.49 5.01 5.06 4.78 4.64

5.56 5.08 5.18 4.83 4.75

5.93 5.41 5.60 5.22

5.92 5.39 5.62 5.47 5.33

8.83 8.27 8.44 8.35 8.00

2.23 1.88 1.61 1.31 1.49

3.60 3.42 3.85 4.04 3.48

2000 2001 2002 2003 2004

............................... ............................... ............................... ............................... ...............................

6.24 3.88 1.67 1.13 1.35

5.73 3.40 1.17 ... 2.34

6.33 3.81 1.71 1.14 1.43

5.82 3.40 1.61 1.01 1.37

5.90 3.34 1.68 1.05 1.58

6.33 3.65 1.70 1.13 1.52

6.46 3.71 1.73 1.15 1.57

9.23 6.91 4.67 4.12 4.34

1.68 1.90 1.77 1.33 1.97

4.56 1.98 -0.10 -0.20 -0.62

2003 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

1.24 1.26 1.25 1.26 1.26 1.22

... 2.25 2.25 2.25 2.25 2.20

1.28 1.26 1.24 1.26 1.25 1.08

1.17 1.17 1.13 1.13 1.07 0.92

1.20 1.18 1.13 1.14 1.08 0.92

1.27 1.25 1.21 1.23 1.20 1.02

1.29 1.27 1.23 1.24 1.22 1.04

4.25 4.25 4.25 4.25 4.25 4.22

1.54 1.48 1.52 1.32 1.34 1.26

-0.30 -0.22 -0.27 -0.06 -0.08 -0.04

July ............................. August ........................ September ................. October ...................... November .................. December ..................

1.01 1.03 1.01 1.01 1.00 0.98

2.00 2.00 2.00 2.00 2.00 2.00

1.04 1.05 1.06 1.05 1.04 1.08

0.90 0.95 0.94 0.92 0.93 0.90

0.95 1.03 1.01 1.00 1.02 0.99

1.03 1.06 1.06 1.06 1.08 1.07

1.05 1.08 1.08 1.10 1.11 1.10

4.00 4.00 4.00 4.00 4.00 4.00

1.32 1.22 1.14 1.26 1.24 1.30

-0.31 -0.19 -0.13 -0.25 -0.24 -0.32

2004 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

1.00 1.01 1.00 1.00 1.00 1.03

2.00 2.00 2.00 2.00 2.00 2.01

1.03 1.02 1.02 1.02 1.03 1.18

0.88 0.93 0.94 0.94 1.02 1.27

0.97 0.99 0.99 1.09 1.31 1.60

1.04 1.03 1.03 1.06 1.16 1.39

1.06 1.05 1.05 1.08 1.20 1.46

4.00 4.00 4.00 4.00 4.00 4.01

1.54 1.64 1.77 1.91 1.99 2.12

-0.54 -0.63 -0.77 -0.91 -0.99 -1.09

July ............................. August ........................ September ................. October ...................... November .................. December ..................

1.26 1.43 1.61 1.76 1.93 2.16

2.25 2.43 2.58 2.75 2.93 3.15

1.35 1.52 1.72 1.84 2.06 2.32

1.33 1.48 1.65 1.76 2.07 2.19

1.66 1.72 1.87 2.00 2.27 2.43

1.51 1.65 1.81 1.97 2.20 2.38

1.57 1.68 1.86 2.04 2.26 2.45

4.25 4.43 4.58 4.75 4.93 5.15

2.00 1.95 2.03 2.15 2.31 2.25

-0.74 -0.52 -0.42 -0.39 -0.38 -0.09

1Federal Reserve Bank of New York. 2Prior to September 1997, this series

definitions. . . . = Not available.

25.37

Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions. represents both nonfinancial and financial commercial paper rates. Beginning September 1997, rates for financial companies only are shown. See notes and

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

273

Table 12-9. Selected Interest Rates and Bond Yields—Continued (Percent per annum; interest rates are nominal [not adjusted for inflation], except as noted.) U.S. Treasury securities, constant maturities

Bond yields Real rate on TIPS (indexed Treasury securities)

Year and month 1-year

3-year

10-year

20-year

30-year

Domestic corporate (Moody’s) Aaa

State and local bonds (Bond Buyer)

Baa

Fixed-rate first mortgages

1954 ...............................

...

...

...

...

...

...

2.90

3.51

2.39

...

1955 1956 1957 1958 1959

............................... ............................... ............................... ............................... ...............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3.05 3.36 3.89 3.79 4.38

3.53 3.88 4.71 4.73 5.05

2.48 2.76 3.28 2.73 2.73

... ... ... ... ...

1960 1961 1962 1963 1964

............................... ............................... ............................... ............................... ...............................

... ... 3.10 3.36 3.85

... ... 3.47 3.67 4.03

... ... 3.95 4.00 4.19

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

4.41 4.35 4.33 4.26 4.41

5.19 5.08 5.02 4.86 4.83

2.73 3.45 3.15 3.17 3.21

... ... ... ... ...

1965 1966 1967 1968 1969

............................... ............................... ............................... ............................... ...............................

4.15 5.20 4.88 5.69 7.12

4.22 5.23 5.03 5.68 7.02

4.28 4.93 5.07 5.64 6.67

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

4.49 5.13 5.51 6.18 7.03

4.87 5.67 6.23 6.94 7.81

2.92 2.92 3.94 4.45 5.72

... ... ... ... ...

1970 1971 1972 1973 1974

............................... ............................... ............................... ............................... ...............................

6.90 4.89 4.95 7.32 8.20

7.29 5.66 5.72 6.96 7.84

7.35 6.16 6.21 6.85 7.56

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

8.04 7.39 7.21 7.44 8.57

9.11 8.56 8.16 8.24 9.50

6.33 3.72 3.81 3.90 3.93

... ... 7.38 8.04 9.19

1975 1976 1977 1978 1979

............................... ............................... ............................... ............................... ...............................

6.78 5.88 6.08 8.34 10.65

7.50 6.77 6.68 8.29 9.70

7.99 7.61 7.42 8.41 9.43

... ... ... ... ...

... ... 7.75 8.49 9.28

... ... ... ... ...

8.83 8.43 8.02 8.73 9.63

10.61 9.75 8.97 9.49 10.69

4.00 6.64 5.68 6.02 6.52

9.04 8.86 8.84 9.63 11.19

1980 1981 1982 1983 1984

............................... ............................... ............................... ............................... ...............................

12.00 14.80 12.27 9.58 10.91

11.51 14.46 12.93 10.45 11.92

11.43 13.92 13.01 11.10 12.46

... ... ... ... ...

11.27 13.45 12.76 11.18 12.41

... ... ... ... ...

11.94 14.17 13.79 12.04 12.71

13.67 16.04 16.11 13.55 14.19

8.59 11.33 11.66 9.51 10.10

13.77 16.63 16.08 13.23 13.87

1985 1986 1987 1988 1989

............................... ............................... ............................... ............................... ...............................

8.42 6.45 6.77 7.65 8.53

9.64 7.06 7.68 8.26 8.55

10.62 7.67 8.39 8.85 8.49

... ... ... ... ...

10.79 7.78 8.59 8.96 8.45

... ... ... ... ...

11.37 9.02 9.38 9.71 9.26

12.72 10.39 10.58 10.83 10.18

9.10 7.32 7.64 7.68 7.23

12.42 10.18 10.20 10.34 10.32

1990 1991 1992 1993 1994

............................... ............................... ............................... ............................... ...............................

7.89 5.86 3.89 3.43 5.32

8.26 6.82 5.30 4.44 6.27

8.55 7.86 7.01 5.87 7.09

... ... ... 6.29 7.49

8.61 8.14 7.67 6.59 7.37

... ... ... ... ...

9.32 8.77 8.14 7.22 7.97

10.36 9.80 8.98 7.93 8.63

7.27 6.92 6.44 5.60 6.18

10.13 9.25 8.40 7.33 8.35

1995 1996 1997 1998 1999

............................... ............................... ............................... ............................... ...............................

5.94 5.52 5.63 5.05 5.08

6.25 5.99 6.10 5.14 5.49

6.57 6.44 6.35 5.26 5.65

6.95 6.83 6.69 5.72 6.20

6.88 6.71 6.61 5.58 5.87

... ... ... ... ...

7.59 7.37 7.27 6.53 7.05

8.20 8.05 7.87 7.22 7.88

5.95 5.76 5.52 5.09 5.43

7.95 7.80 7.60 6.94 7.43

2000 2001 2002 2003 2004

............................... ............................... ............................... ............................... ...............................

6.11 3.49 2.00 1.24 1.89

6.22 4.09 3.10 2.10 2.78

6.03 5.02 4.61 4.01 4.27

6.23 5.63 5.43 4.96 5.04

5.94 5.49 ... ... ...

... ... ... 2.54 2.21

7.62 7.08 6.49 5.66 5.63

8.37 7.95 7.80 6.76 6.39

5.71 5.15 5.04 4.75 4.68

8.06 6.97 6.54 5.82 5.84

2003 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

1.36 1.30 1.24 1.27 1.18 1.01

2.18 2.05 1.98 2.06 1.75 1.51

4.05 3.90 3.81 3.96 3.57 3.33

5.02 4.87 4.82 4.91 4.52 4.34

... ... ... ... ... ...

2.72 2.50 2.52 2.72 2.40 2.27

6.17 5.95 5.89 5.74 5.22 4.97

7.35 7.06 6.95 6.85 6.38 6.19

4.90 4.81 4.76 4.74 4.41 4.33

5.92 5.84 5.75 5.81 5.48 5.23

July ............................. August ........................ September ................. October ...................... November .................. December ..................

1.12 1.31 1.24 1.25 1.34 1.31

1.93 2.44 2.23 2.26 2.45 2.44

3.98 4.45 4.27 4.29 4.30 4.27

4.92 5.39 5.21 5.21 5.17 5.11

... ... ... ... ... ...

2.64 2.80 2.67 2.57 2.40 2.31

5.49 5.88 5.72 5.70 5.65 5.62

6.62 7.01 6.79 6.73 6.66 6.60

4.74 5.10 4.92 4.89 4.73 4.65

5.63 6.26 6.15 5.95 5.93 5.88

2004 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

1.24 1.24 1.19 1.43 1.78 2.12

2.27 2.25 2.00 2.57 3.10 3.26

4.15 4.08 3.83 4.35 4.72 4.73

5.01 4.94 4.72 5.16 5.46 5.45

... ... ... ... ... ...

2.24 2.15 1.93 2.28 2.45 2.43

5.54 5.50 5.33 5.73 6.04 6.01

6.44 6.27 6.11 6.46 6.75 6.78

4.61 4.55 4.41 4.82 5.07 5.05

5.74 5.64 5.45 5.83 6.27 6.29

July ............................. August ........................ September ................. October ...................... November .................. December ..................

2.10 2.02 2.12 2.23 2.50 2.67

3.05 2.88 2.83 2.85 3.09 3.21

4.50 4.28 4.13 4.10 4.19 4.23

5.24 5.07 4.89 4.85 4.89 4.88

... ... ... ... ... ...

2.36 2.26 2.18 2.15 2.11 2.00

5.82 5.65 5.46 5.47 5.52 5.47

6.62 6.46 6.27 6.21 6.20 6.15

4.87 4.70 4.56 4.49 4.52 4.48

6.06 5.87 5.75 5.72 5.73 5.75

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Figure 12-4. S&P Composite Price Index and OFHEO House Price Index, 1975–2004 (ratio scale, price index, 1975 = 100) 2,000 S&P Composite Price Index

1,100 OFHEO House Price Index

Price index

274

600

330

180

100

4.0

1975

1980

1985

1990

1995

2000

2004

Year

• Prices of existing homes rose 12 percent in 2004, approaching the similar gains registered in the mid-1970s. In the 29 years recorded by the new OFHEO house price index, home prices have never declined; they rose fivefold over the period. (Table 12-10) • However, the long-term gains in housing prices were no match for those in the prices of common stocks. In the same 29-year period, the S&P 500 stock index, though more volatile than home prices, rose 13-fold. The annual average rates of appreciation were 9.3 percent for stocks and 6.0 percent for homes. (Of course, these comparisons do not take account of tax considerations, stock dividends, and the value of shelter provided by the owner-occupied home. Past history is no guarantee of future results.) (Table 12-10) • Even after the post-2000 decline in the stock market, stock valuations have remained high relative to earnings and dividends. The recent dividend-price and earnings-price ratios shown in Table 12-10 (the inverse of valuation, since stock prices are the denominator rather than the numerator) remain well below rates registered in most years before 1997.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

275

Table 12-10. Common Stock Prices and Yields; Existing House Prices

Year and month

Dow Jones industrials (30 stocks)

Stock price indexes Yields based on Standard and Poor’s composite (percent) Standard and Poor’s composite Nasdaq composite (500 stocks) (Feb. 5, 1971 = 100) Dividend-price ratio Earnings-price ratio (1941–1943 = 10)

OFHEO House Price Index Level at end of period (1980:I = 100)

Appreciation from same quarter one year earlier (percent)

1955 1956 1957 1958 1959

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

442.72 493.01 475.71 491.66 632.12

40.49 46.62 44.38 46.24 57.38

... ... ... ... ...

4.08 4.09 4.35 3.97 3.23

7.95 7.55 7.89 6.23 5.78

... ... ... ... ...

... ... ... ... ...

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

618.04 691.55 639.76 714.81 834.05

55.85 66.27 62.38 69.87 81.37

... ... ... ... ...

3.47 2.98 3.37 3.17 3.01

5.90 4.62 5.82 5.50 5.32

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

910.88 873.60 879.12 906.00 876.72

88.17 85.26 91.93 98.70 97.84

... ... ... ... ...

3.00 3.40 3.20 3.07 3.24

5.59 6.63 5.73 5.67 6.08

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

753.19 884.76 950.71 923.88 759.37

83.22 98.29 109.20 107.43 82.85

... 107.44 128.52 109.90 76.29

3.83 3.14 2.84 3.06 4.47

6.45 5.41 5.50 7.12 11.59

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

802.49 974.92 894.63 820.23 844.40

86.16 102.01 98.20 96.02 103.01

77.20 89.90 98.71 117.53 136.57

4.31 3.77 4.62 5.28 5.47

9.15 8.90 10.79 12.03 13.46

63.39 68.26 77.22 87.56 98.06

... 7.68 13.13 13.39 11.99

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

891.41 932.92 884.36 1 190.34 1 178.48

118.78 128.05 119.71 160.41 160.46

168.61 203.18 188.97 285.43 248.88

5.26 5.20 5.81 4.40 4.64

12.66 11.96 11.60 8.03 10.02

104.87 109.59 112.10 116.68 122.86

6.94 4.50 2.29 4.09 5.30

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

1 328.23 1 792.76 2 275.99 2 060.82 2 508.91

186.84 236.34 286.83 265.79 322.84

290.19 366.96 402.57 374.43 437.81

4.25 3.49 3.08 3.64 3.45

8.12 6.09 5.48 8.01 7.42

130.90 141.53 151.05 160.33 170.00

6.54 8.12 6.73 6.14 6.03

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

2 678.94 2 929.33 3 284.29 3 522.06 3 793.77

334.59 376.18 415.74 451.41 460.42

409.17 491.69 599.26 715.16 751.65

3.61 3.24 2.99 2.78 2.82

6.47 4.79 4.22 4.46 5.83

170.40 174.77 178.04 181.72 183.22

0.24 2.56 1.87 2.07 0.83

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

4 493.76 5 742.89 7 441.15 8 625.52 10 464.88

541.72 670.50 873.43 1 085.50 1 327.33

925.19 1 164.96 1 469.49 1 794.91 2 728.15

2.56 2.19 1.77 1.49 1.25

6.09 5.24 4.57 3.46 3.17

191.50 196.48 205.50 215.71 226.89

4.52 2.60 4.59 4.97 5.18

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

10 734.90 10 189.13 9 226.43 8 993.59 10 317.39

1 427.22 1 194.18 993.94 965.23 1 130.65

3 783.67 2 035.00 1 539.73 1 647.17 1 986.53

1.15 1.32 1.61 1.77 1.72

3.63 2.95 2.92 3.84 4.89

244.07 262.43 282.04 304.56 341.14

7.57 7.52 7.47 7.98 12.01

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

8 474.59 7 916.18 7 977.73 8 332.09 8 623.41 9 098.07

895.84 837.62 846.62 890.03 935.96 988.00

1 389.56 1 313.26 1 348.50 1 409.83 1 524.18 1 631.75

1.80 1.95 1.93 1.83 1.75 1.66

... ... 3.57 ... ... 3.55

... 285.79 ... ... 289.32 ...

... 7.14 ... ... 6.46 ...

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

9 154.39 9 284.78 9 492.54 9 682.46 9 762.20 10 124.66

992.54 989.53 1 019.44 1 038.73 1 049.90 1 080.64

1 716.85 1 724.82 1 856.22 1 907.89 1 939.25 1 956.98

1.71 1.78 1.73 1.71 1.69 1.67

... ... 3.87 ... ... 4.38

... 294.18 ... ... 304.56 ...

... 5.96 ... ... 7.98 ...

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

10 540.05 10 601.50 10 323.73 10 418.40 10 083.81 10 364.90

1 132.52 1 143.36 1 123.98 1 133.08 1 102.78 1 132.76

2 098.00 2 048.36 1 979.48 2 021.32 1 930.09 2 000.98

1.62 1.63 1.68 1.68 1.74 1.70

... ... 4.62 ... ... 4.92

... 309.69 ... ... 318.28 ...

... 8.36 ... ... 10.01 ...

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

10 152.09 10 032.80 10 204.67 10 001.60 10 411.76 10 673.38

1 105.85 1 088.94 1 117.66 1 118.07 1 168.94 1 199.21

1 912.42 1 821.54 1 884.73 1 938.25 2 062.87 2 149.53

1.77 1.81 1.78 1.79 1.74 1.72

... ... 5.18 ... ... 4.83

... 333.42 ... ... 341.14 ...

... 13.34 ... ... 12.01 ...

. . . = Not available.

276

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 12-1, 12-2, AND 20-5 MONEY STOCK MEASURES; SELECTED COMPONENTS OF THE MONEY STOCK SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

Estimates of three monetary aggregates (M1, M2, and M3) and the components of these measures are published weekly. The monthly data are averages of daily figures. The Board will cease publication of the M3 aggregate on March 23, 2006. They will also cease publishing the following components of M3: large-denomination time deposits, repurchase agreements (RPs), and Eurodollars. The Board will continue to publish institutional money market mutual funds as a memorandum item in this release. Measures of large-denomination time deposits will continue to be published in the flow of funds accounts and in the H.8 release weekly for commercial banks. Definitions M1 consists of (1) currency outside the U.S. Treasury, Federal Reserve Banks, and the vaults of depository institutions; (2) travelers checks of nonbank issuers (bank-issued travelers checks are included in demand deposits); (3) demand deposits at all commercial banks other than those due to depository institutions, the U.S. government, and foreign banks and official institutions, less cash items in the process of collection and Federal Reserve float; and (4) other checkable deposits, consisting of negotiable order of withdrawal (NOW) and automatic transfer service (ATS) accounts at depository institutions, credit union share draft accounts, and demand deposits at thrift institutions. M2 consists of M1 plus savings deposits (including money market deposit accounts), small-denomination time deposits (time deposits—including retail repurchase agreements [RPs]—in amounts of less than $100,000), and balances in retail money market mutual funds. It excludes individual retirement account (IRA) and Keogh balances at depository institutions and money market funds. M3 consists of M2 plus large-denomination time deposits (in amounts of $100,000 or more), balances in institutional money funds, RP liabilities (overnight and term) issued by all depository institutions, and Eurodollars (overnight and term) held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. It excludes amounts held by depository institutions, the U.S. government, money funds, and foreign banks and official institutions.

Currency consists of currency outside the U.S. Treasury, the Federal Reserve Banks, and the vaults of depository institutions. Demand deposits consists of demand deposits at commercial banks and foreign-related institutions other than those due to depository institutions, the U.S. government, and foreign banks and official institutions—less cash items in the process of collection and Federal Reserve float. Other checkable deposits consists of NOW and ATS balances at all depository institutions, credit union share draft balances, and demand deposits at thrift institutions. Repurchase agreements (RPs) are commitments by depository institutions to repurchase securities (often government securities) purchased by a client from the institution. A repurchase agreement constitutes a ready source of liquidity for the client, similar in nature to other components of M2 and M3. Both overnight and longer-term repurchase agreements are included in the data. Eurodollars are dollar-denominated deposits—both overnight and term—held by U.S. residents at foreign branches of U.S. banks worldwide and at all banking offices in the United Kingdom and Canada. Savings deposits includes money market deposit accounts and other savings deposits at commercial banks and thrift institutions. Small time deposits are those issued at commercial banks and thrift institutions in amounts less than $100,000. Retail RPs are included. All IRA and Keogh account balances at commercial banks and thrift institutions are subtracted from small time deposits. Large time deposits are those issued in amounts of $100,000 or more at commercial banks and thrift institutions, excluding those booked at international banking facilities. Deposits held at commercial banks by money market mutual funds, depository institutions, the U.S. government, and foreign banks and official institutions also are excluded. Notes on the data Seasonal adjustment. Seasonally adjusted M1 is calculated by summing currency, travelers checks, demand deposits, and other checkable deposits (each seasonally adjusted separately). Seasonally adjusted M2 is computed by adjusting each of its non-M1 components and then adding this result to seasonally adjusted M1. Similarly, seasonally adjusted M3 is obtained by adjusting each of its non-M2 components and then adding this result to seasonally adjusted M2. Revisions. Money stock measures are revised frequently and have a benchmark and seasonal factor review in the

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

middle of the year, typically extending back a number of years. The monetary aggregates were redefined in major revisions introduced in 1980. Data availability Estimates are released weekly in Federal Reserve Statistical Release H.6, “Money Stock Measures.” Historical data beginning with 1959 are available from Publications Services, Board of Governors of the Federal Reserve System. Current and historical data are available on the Federal Reserve Web site at . References An explanation of the 1980 redefinition of the monetary aggregates is found in the Federal Reserve Bulletin for February 1980. TABLES 12-3 AND 20-5 AGGREGATE RESERVES OF DEPOSITORY INSTITUTIONS AND MONETARY BASE SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

277

program was significant in the 1980s but little used in subsequent years. It ended with the 2002 revision of the discount window program, effective January 9, 2003. See the explanation of the discount rate in the notes and definitions for Table 12-9 below. To adjust required reserves for discontinuities due to regulatory changes in reserve requirements, a multiplicative procedure is used to estimate what required reserves would have been in past periods, had current reserve requirements been in effect. Break-adjusted required reserves include required reserves against transactions deposits and personal time and savings deposits (but not reservable nondeposit liabilities). The seasonally adjusted, break-adjusted monetary base consists of (1) seasonally adjusted, break-adjusted total reserves, plus (2) the seasonally adjusted currency component of the money stock, plus (3) the seasonally adjusted, break-adjusted difference between current vault cash and the amount applied to satisfy current reserve requirements for all quarterly reporters on the “Report of Transaction Accounts, Other Deposits, and Vault Cash” and for all weekly reporters whose vault cash exceeds their required reserves.

The data presented here are in millions of dollars, seasonally adjusted and adjusted for changes in reserve requirements (“break-adjusted”), in order to provide a consistent gauge of the effect of Federal Reserve openmarket operations. Break-adjustment is required, as an observed increase in reserves will not represent an easing in monetary conditions if it is simply equal to the increase in reserves required by the Federal Reserve. Therefore, the mandated increases and decreases are deducted to provide the break-adjusted series. Monthly data are averages of daily figures. Annual data are for December.

Revisions

Definitions

TABLE 12-4 COMMERCIAL BANKS: BANK CREDIT AND SELECTED LIABILITIES

Total reserves consists of reserve balances with Federal Reserve Banks plus vault cash used to satisfy reserve requirements. Seasonally adjusted, break-adjusted total reserves equal seasonally adjusted, break-adjusted required reserves plus unadjusted excess reserves. Seasonally adjusted, break-adjusted nonborrowed reserves equal seasonally adjusted, break-adjusted total reserves less unadjusted total borrowings of depository institutions from the Federal Reserve. Extended credit consisted of borrowing at the discount window under the terms and conditions established for the extended credit program to help depository institutions deal with sustained liquidity pressures. Since there was not the same need to repay such borrowing promptly as there was with traditional short-term adjustment credit, the money market impact of extended credit was similar to that of nonborrowed reserves. The extended credit

The data are revised annually around midyear to reflect the result of annual reviews of seasonal factors and break factors. Data availability Data are released weekly in Federal Reserve Release H.3, “Aggregate Reserves of Depository Institutions and the Monetary Base.” Current and historical data are available on the Federal Reserve Web site at .

SOURCE: BOARD SYSTEM.

OF

GOVERNORS

OF THE

FEDERAL RESERVE

Definitions and notes on the data The data are for all commercial banks in the United States. This category covers the following types of institutions in the 50 states and the District of Columbia: domestically chartered commercial banks that report weekly (large domestic), other domestically chartered commercial banks (small domestic), branches and agencies of foreign banks, and Edge Act and Agreement corporations (foreign related institutions). International Banking Facilities are excluded.

278

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Data are collected weekly for Wednesday values, monthly data are pro rata averages of Wednesday values, and annual data represent December figures. Data are complete for large domestic banks. Data for others are estimated on the basis of weekly samples and end of quarter condition reports. Data are adjusted for breaks caused by the reclassifications of assets and liabilities. Data before 1988 are based on previous versions of this survey—the G.7 release,“Loans and Securities at Commercial Banks” and the G.10 release “Major Nondeposit Funds of Commercial Banks.” Most of the categories of credit and liabilities are selfexplanatory. The component of loans and leases in bank credit labeled security loans consists of loans to purchase and carry securities and reverse repurchase agreements (RPs) with brokers, dealers, and others. In a reverse RP, a bank has provided liquidity to a borrower by buying a security, which the borrower promises to repurchase at a certain date. Interbank loans, cash assets, and other assets are not components of bank credit and are omitted from Table 12-4. Interbank loans include loans made to commercial banks, reverse repurchase agreements with commercial banks, and federal funds sold to commercial banks. Selected liabilities show deposits and borrowings. Two components of total liabilities, “net due to foreign offices” and “other liabilities,” are omitted. Revisions

Aggregates of these data can include multiple layers of financial intermediation, such as banks making advances to finance companies that are lending to households. In macroeconomic analysis, the most widely used flow of funds measure is the total debt of domestic nonfinancial sectors. By eliminating the financial sectors, this measure has little duplication due to financial intermediation. The Federal Reserve uses this along with the monetary aggregates as an indicator of monetary conditions. Definitions and notes on the data Quarterly data on debt outstanding are shown on an endof-period basis, not adjusted for seasonal variation or for “breaks” or discontinuities in the series. Due to these discontinuities, caution should be used in interpreting changes in debt levels. Break-adjusted values of changes or “flows” can be found in the quarterly flow of funds report, along with a suggested method for calculating percent changes. The data on credit market debt exclude corporate equities and mutual fund shares. However, these instruments do appear in the household sector accounts in Table 12-6. Data for the current and preceding years are revised each year to reflect revisions in source data, including the NIPAs; the revisions are issued about a month after the release of the annual NIPA revisions. Sectors owing debt

Data are revised annually around midyear to reflect new benchmark information and revised seasonal factors. Data availability Federal Reserve Release H.8, “Assets and Liabilities of Commercial Banks in the United States,” is issued each Friday around 4:30 p.m. (EST). Current and historical data are available on the Federal Reserve Web site at . TABLE 12-5 CREDIT MARKET DEBT OUTSTANDING, BY BORROWER AND LENDER SOURCE: BOARD SYSTEM

owed by the major sectors in the economy and the major lending sectors in the credit markets under credit market assets held. One purpose of these statistics is to show the comparative growth of the various lending sectors.

OF

GOVERNORS

OF THE

FEDERAL RESERVE

The flow of funds accounts, compiled quarterly by the Federal Reserve Board, supplement the national income and product accounts (NIPAs) by providing a comprehensive and detailed accounting of financial transactions with a balance sheet for each financial and nonfinancial sector of the economy. Table 12-5 is taken from these accounts. It shows the credit market debt outstanding

Domestic financial sectors: Federal government-related sectors include government sponsored enterprises (GSEs) such as Fannie Mae (originally the Federal National Mortgage Association) and Freddie Mac (originally the Federal Home Loan Mortgage Corporation); agency and GSE-backed mortgage pools; and the monetary authority (Federal Reserve). However, the Federal Reserve usually owes no credit market debt. The private sector includes commercial banks and bank holding companies, savings institutions, credit unions, life insurance companies, asset-backed securities (ABS) issuers, brokers and dealers, finance and mortgage companies, REITs (real estate investment trusts), and funding corporations. Domestic nonfinancial sectors: Federal government consists of all federal government agencies and funds included in the unified budget. However, the District of Columbia government is included in the state and local sector.

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279

Treasury securities as shown here excludes securities issued by the Treasury but held by agencies within the U.S. government (e.g., in the Social Security trust funds). In this respect, it corresponds to the “Federal debt” shown in Table 6-17, except that the latter table uses a fiscal year rather than a calendar year basis. Federal government debt as shown here is smaller than the official total public debt and the “debt subject to limit.” Both of these also include the securities held by U.S. government agencies. The value shown here is considered to be a more accurate measure of the effect of government borrowing in relation to the economy and credit markets than those larger aggregates.

This grouping includes two nonfinancial and three financial sectors. The nonfinancial sectors are the federal government, as reflected in the U.S. Budget accounts, and the operations of state and local governments, including the District of Columbia. State and local employee retirement funds are shown separately and considered to be a financial sector. The other two government-related financial sectors are government-sponsored enterprises (GSEs) and federally related mortgage pools.

Budget agency securities and mortgages are those issued by government-owned corporations and agencies, such as the Export-Import Bank, that issue securities individually.

Government-sponsored enterprises (GSEs) are financial institutions that provide credit to housing, agriculture, and other specific areas of the economy, such as Federal Home Loan Banks, Fannie Mae, and Freddie Mac.

Households also includes personal trusts and nonprofit organizations.

Federally related mortgage pools are entities established for bookkeeping purposes that record the issuance of pooled securities representing an interest in mortgages backed by federal agencies and GSEs. Rather than being composed of a group of institutions, the sector is made up of a set of contractual arrangements in regard to pooled mortgages.

State and local governments represent operating funds only. State and local government retirement funds are included in the financial sector. Foreign credit market debt held in the United States shows the foreign credit market debt owed to U.S. residents. This debt is included along with the debt of domestic financial and nonfinancial sectors in total credit market debt outstanding. Percentage measures: Table 12-5 includes three measures of relative debt burdens, as calculated by the editor. Domestic nonfinancial debt as a percent of GDP is the total debt owed by domestic nonfinancial sectors as a percent of the current-dollar value of total gross domestic product. (Table 1-1) Household debt as a percent of DPI is the value of debt owed by households as a percent of the current-dollar value of disposable personal income. (Table 4-1) Corporate nonfinancial business debt as a percent of sector value added is the total debt owed by domestic corporate nonfinancial business as a percent of the current-dollar gross value added of domestic corporate nonfinancial business. (Table 1-13) For the annual ratios, debt outstanding at the end of the year is taken as a percent of the product or income data for the full preceding year. For the quarterly ratios, the debt outstanding at the end of the quarter is taken as a percent of the annual rate of the product or income flow for that quarter. This means that the end-year ratios will almost inevitably be higher than the corresponding endquarter ratios and should therefore not be compared with them.

Credit market assets held by sector Government related sectors:

Selected domestic financial sectors This grouping includes major financial sectors, such as commercial banks, savings institutions, and credit unions. The monetary authority (the Federal Reserve) has been put in this grouping because it is sometimes included in banking sector totals. Other important financial sectors are life insurance companies, property-casualty insurance companies, and private pension funds. Additional private financial sectors are money market mutual funds, which issue shares and invest in short-term liquid assets; mutual funds, whose investments are not restricted to the shortterm area; asset backed security (ABS) issuers, which issue debt obligations that are backed by pooled assets, a financial procedure similar to that of federally related mortgage pools; and finance companies, which provide credit to businesses and individuals. Private domestic nonfinancial sectors Households are the dominant private nonfinancial lenders. A number of lending sectors of smaller importance, nonfinancial and financial, are included in the category “Other.” One of those is nonfinancial business, a sector that is important on the borrowing side, but not on the lending side.

280

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Data availability Debt estimates are released quarterly, about nine weeks following the end of the quarter. The data can be found in Federal Reserve Statistical Release Z.1, “Flow of Funds of the United States,” available on the Federal Reserve Web site at . The data in Table 12-5 are found in Tables L.1 and L.2 of that release. Current and historical data also are available on the same Web site. References A Guide to the Flow of Funds Accounts can be purchased from Publications Services, Board of Governors of the Federal Reserve System. The Federal Reserve Bulletin for July 2001 includes an article entitled “The U.S. Flow of Funds Accounts and Their Uses.” TABLE 12-6 HOUSEHOLD ASSETS, LIABILITIES, NET WORTH, FINANCIAL OBLIGATIONS, AND DELINQUENCY RATES SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

The quarterly data on household sector assets, liabilities, and net worth are also obtained from the Federal Reserve Board’s flow of funds accounts, as described above. These data appear in Table B.100 of the Z.1 release, also cited above. The household credit ratios and rates are also compiled by the Federal Reserve. The household debt service ratio relates required debt service (interest and principal) payments to disposable personal income. The financial obligations ratios include not only required debt payments, but also rental payments, automobile lease payments, homeowners’ insurance, and property taxes. They are also expressed as a percent of disposable personal income. Unlike the debt service ratio, the financial obligations ratios are not distorted by the trends toward debt-financed homeownership in preference to rental, and toward auto leasing in preference to loan financing. The delinquency and charge-off rates relate delinquent (past due 30 days or more) and charged-off consumer credit card credit at commercial banks to total bank holdings of that type of credit. Definitions and notes on the data Quarterly data on holdings of financial assets are shown on an end-of-period basis, not adjusted for seasonal variations. Data for the current and preceding years are revised annually to reflect revisions in source data. For most categories, the values for the household sector are calculated as residuals. That is, starting with known totals (such as total Treasury securities), amounts held by other sectors are subtracted and the remainders are assigned to the household sector.

Financial assets of the household sector include nonprofit organizations, which are difficult to estimate separately, but exclude holdings by unincorporated businesses. The table shows total household ownership of checkable deposits and currency, time and savings deposits, money market fund shares, U.S. savings bonds, other Treasury securities, agency- and GSE-backed securities, municipal securities, corporate and foreign bonds, mortgages, corporate equities (at market value), mutual fund shares (with equities at market value and other assets at book value), security credit, life insurance reserves, pension fund reserves, and equity in noncorporate business. Note that the reserves of life insurance companies and pension funds, though held by institutions, are counted here as assets of the household sector. Pension fund reserves include insurance and pension fund reserves of federal, state, and local government employee funds—but not the Social Security system—as well as private industry funds. Bank personal trusts were formerly included as a type of household financial asset. However, in the latest revision of the flow of funds accounts, the various assets in these trusts were instead included in the appropriate categories, such as bonds, equities, and so forth. Included in total financial assets, but not shown separately, are foreign deposits, open market paper, and claims on insurance companies, such as unearned premium reserves of other insurance companies and health insurance reserves of life insurance companies. Tangible assets complete the asset side of the household balance sheet. Tangible assets comprise real estate, equipment and software owned by nonprofit organizations, and consumer durable goods. Household real estate includes farm homes, mobile homes, second homes not rented, vacant homes for sale, vacant land, and owneroccupied housing. It is valued at market value, while equipment, software, and consumer durables are valued at replacement (current) cost. Debt as a percent of total assets is calculated by the editor as household credit market debt outstanding, from Table 12-5, as a percent of the total of tangible and financial assets in this table. It covers both households and nonprofit organizations. Total liabilities consists of household credit market debt, as shown in Table 12-5, plus security credit, trade payables of nonprofit organizations, and deferred and unpaid life insurance premiums. Net worth is the sum of the value of financial and tangible assets minus total liabilities. The household debt-service and financial obligations ratios are estimated on a quarterly basis by the Federal Reserve based on aggregate and consumer survey data. They are seasonally adjusted, unlike almost all of the other data in Table 12-6. Fourth-quarter values are shown to represent the calendar year. The denominator for the

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

aggregate ratio is personal disposable income from the NIPAs (see Chapter 4). The allocation of the NIPA data between renters and homeowners is estimated by the Federal Reserve based on data from its triennial Survey of Consumer Finances and the Census Bureau’s Current Population Survey (for more information on the CPS, see the notes and definitions to Chapters 3 and 10). Debt service payments are the minimum required monthly payments of principal and interest on mortgage debt (including home equity loans), revolving credit (credit card debt), and auto, student, mobile home, recreational vehicle, marine, and personal loans. The financial obligations ratios include, in addition to debt service, rental payments on primary residences, property taxes, homeowners’ insurance, and automobile lease payments. Delinquency and charge-off rates of credit card accounts held at banks are compiled from the quarterly FFIEC (Federal Financial Institutions Examination Council) Consolidated Reports of Condition and Income (FFIEC 031 through 034) and pertain to all insured U.S.-chartered commercial banks. The delinquency rate concerns loans past due 30 days or more and still accruing interest as well as those in nonaccrual status, measured as a percentage of end-of-period loans. The charge-off rate is the value of loans removed from the books and charged against loss reserves, measured net of recoveries as a percentage of average loans, and annualized. Data availability Household balance sheet estimates are released quarterly, about nine weeks following the end of a quarter, in the Federal Reserve Statistical Release Z.1, “Flow of Funds Accounts of the United States.” Further information on data availability is given in the notes to Table 12-5, a table that is also based on the flow of funds accounts. The revised debt service ratio and the new financial obligations ratios are described in “Recent Changes to a Measure of U.S. Household Debt Service,” Federal Reserve Bulletin, October 2003. The data are estimated by the Federal Reserve about three months after the end of each quarter. Current and historical data are available on the Federal Reserve Web site at . Delinquency and charge-off rates of credit card accounts held at banks are also available on the Federal Reserve Web site, listed under “Charge-off and Delinquency Rates on Loans at Commercial Banks.” Rates are posted approximately 60 days after the end of the quarter.

281

TABLE 12-7 MORTGAGE DEBT OUTSTANDING SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

These data are also published in the Federal Reserve’s “Flow of Funds Accounts,” Table L.217. They are based on reports from various government and private organizations. Definitions and notes on the data Home mortgages include home equity loans; these are also shown separately in the flow of funds accounts. Multifamily residential refers to mortgages on structures of five or more units. Mortgage pools or trusts show mortgages that were refinanced by their holders through the issuance of mortgage-backed securities. They are shown in two columns: refinancings by federally-related agencies—mainly the Federal National Mortgage Association (Fannie Mae), the Federal Home Loan Mortgage Corporation (Freddie Mac), and the Government National Mortgage Association (Ginnie Mae)—and refinancings by private conduits (these are referred to as ABS issuers in the flow of funds accounts, which stands for issuers of asset-backed securities). Other holders encompasses a variety of groups including finance companies, individuals, state and local governments, credit unions, and others. Home mortgage debt as a percentage of the value of real estate is calculated by the editor, using total home mortgage debt as a percentage of the value of household real estate shown in Table 12-6. Data availability Mortgage debt data are compiled quarterly, about 9 weeks following the end of the quarter, in Federal Reserve Statistical Release Z.1, “Flow of Funds Accounts of the United States.” The release and current and historical data are available on the Federal Reserve Web site at . TABLE 12-8 CONSUMER CREDIT SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

The consumer credit series cover most short- and intermediate-term credit extended to individuals through regular business channels, excluding loans secured by real

282

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

estate (such as first and second mortgages and home equity credit). In October 2003, the scope of the statistics was extended to incorporate student loans extended by the federal government and by SLM Holding Corporation (SLM), the parent company of Sallie Mae. The historical data have been revised back to 1977 to reflect this inclusion. The household debt series presented in Table 12-5 is more comprehensive, comprising both mortgage and consumer debt. Consumer credit is categorized by major types of credit and by major holders. Definitions and notes on the data

The seasonally adjusted data are adjusted for differences in the number of trading days and for seasonal influences. Data availability Current data are available monthly in the Federal Reserve Statistical Release G.19, Consumer Credit, available along with all current and historical data on the Federal Reserve Web site at . Once a year, in the autumn, there is a revision of several years of past data, reflecting benchmarking and seasonal factor review.

The major types of consumer credit are revolving and nonrevolving. Revolving credit includes credit arising from purchases on credit card plans of retail stores and banks, cash advances and check credit plans of banks, and some overdraft credit arrangements. Non-revolving credit includes automobile loans, mobile home loans, and all other loans not included in revolving credit, such as loans for education, boats, trailers, or vacations. These loans may be secured or unsecured.

TABLES 12-9, 12-10 AND 20-6 INTEREST RATES, BOND YIELDS, STOCK PRICES AND YIELDS, AND EXISTING HOUSE PRICES

Debt secured by real estate (including first liens, junior liens, and home equity loans) is excluded. Credit extended to governmental agencies and nonprofit or charitable organizations, as well as credit extended to business or to individuals exclusively for business purposes, is excluded.

Definitions and notes on the data

Categories of holders include commercial banks, finance companies, credit unions, federal government and Sallie Mae, savings institutions, nonfinancial businesses, and pools of securitized assets. Retailers and gasoline companies are included in the nonfinancial businesses category. Pools of securitized assets comprises the outstanding balances of pools upon which securities have been issued; these balances are no longer carried on the balance sheets of the loan originators. The consumer credit series are based on comprehensive benchmark data that become available periodically. Current monthly estimates are brought forward from the latest benchmarks in accordance with weighted changes indicated by sample data. Classifications are made on a “holder” basis. Thus, installment paper sold by retail outlets is included in figures for the banks and finance companies that purchased the paper. The amount of outstanding credit represents the sum of the balances in the installment receivable accounts of financial institutions and retail outlets at the end of each month. The estimates of the amount of credit outstanding include any finance and insurance charges included as part of the installment contract. Unearned income on loans is included in some cases when lenders cannot separate the components.

SOURCES: BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM; BUREAU OF ECONOMIC ANALYSIS; MOODY’S INVESTORS SERVICE; THE BOND BUYER; DOW JONES, INC.; STANDARD AND POOR’S CORPORATION; NEW YORK STOCK EXCHANGE; OFHEO (OFFICE OF FEDERAL HOUSING ENTERPRISE OVERSIGHT)

Interest rates and bond yields are percents per year and are averages of business day figures, except as noted. With two exceptions, they are nominal rates or yields not adjusted for inflation. Due to the attention now being given to “real” interest rates, Business Statistics now includes two estimates of an inflation-adjusted rate—one short-term and one long-term—in this table. Real federal funds rate. There is no directly observable real short-term rate, but it can be approximated by subtracting some measure of the current inflation rate from the nominal rate. For Table 12-9, the editor has selected one widely-followed measure—the rate of change in the core PCE (personal consumption expenditures, excluding food and energy) chain price index—and calculated a “real” federal funds rate by subtracting the core inflation rate from the nominal rate. In the annual data, the inflation rate is the percent change in the price index from the previous year; in the monthly data, it is the percent change from the same month a year earlier. (The nominal federal funds rate is defined below.) As noted in Chapter 8, which displays and defines several different measures of inflation, other price indexes can be used as inflation indicators. Real rate on TIPS. In recent years, the Treasury has begun to issue Treasury Inflation-Protected Securities (TIPS), which are marketable long-term bonds whose redemption value is increased by the change in the CPIU from the date of purchase. (See notes and definitions to Chapter 8.) The purchaser of these bonds, unlike with ordinary securities, is guaranteed that the real value of his or her principal will remain intact. He or she need not estimate future inflation in order to make a rational bid.

CHAPTER 12: MONEY, ASSETS, LIABILITIES, AND ASSET MARKETS

Therefore, the observed purchase price represents a real rate of interest that purchasers and sellers are willing to accept. The TIPS interest rate shown here is based on the unweighted average of the bid yields for all TIPS with remaining terms to maturity over 10 years. The daily effective federal funds rate is a weighted average of rates on trades through New York brokers. Monthly figures include each calendar day in the month. Annualized figures use a 360-day year. The Federal Reserve discount rate is the rate for discount window borrowing at the Federal Reserve Bank of New York. Monthly figures include each calendar day in the month. Annualized figures use a 360-day year. Beginning in January 2003, the rules governing the discount window programs were revised. “Adjustment credit,” which (as can be seen in Table 12-9) was extended at a below-market rate, was replaced with a new type called “primary credit.” Primary credit is available for very short terms as a backup source of liquidity to depository institutions in generally sound financial condition, as judged by the lending Federal Reserve Bank. Primary credit is extended at a rate above the federal funds rate, eliminating the incentive for institutions to exploit the spread of money market rates over the discount rate. Through December 2002, Table 12-9 displays the adjustment credit rate. Beginning in February 2003, the new primary credit rate is shown. The rule change, and the change in discount rates shown, did not entail a change in the stance of monetary policy, which continues to be measured by the level of the federal funds rate. The Eurodollar rate shown is the bid rate for Eurodollar deposits at about 9:30 a.m. (EST) for 1-month deposits. Annualized figures use a 360-day year. The U.S. Treasury bills, 3-month rate and the U.S. Treasury bills, 6-month rate are the yields on these securities based on their prices as traded in the secondary market. The rates are quoted on a discount basis, and annualized figures use a 360-day year.

283

The bank prime rate is one of several base rates used by banks to price short-term business loans. It is the rate posted by a majority of the top 25 (by assets in domestic offices) insured U.S.-chartered commercial banks. Monthly figures include each calendar day in the month. Annualized figures use a 360-day year. The inflation column is the rate of change in the PCE chain-type price index, excluding food and energy. For monthly entries, it is the change from the same month a year earlier. This price index is calculated by the Bureau of Economic Analysis (BEA) and shown in Table 8-2. The inflation rate is shown along with other rates in Table 8-3; see the notes and definitions for that table. U.S. Treasury securities. The rates shown for 1-year, 3-year, 10-year, 20-year, and 30-year securities are yields on actively traded issues adjusted to constant maturities. Yields on Treasury securities at “constant maturity” are interpolated by the U.S. Treasury from the daily yield curve. This curve, which relates the yield on a security to its time to maturity, is based on the closing market bid yields on actively traded Treasury securities in the over-the-counter market. These market yields are calculated from composites of quotations reported by U.S. government securities dealers to the Federal Reserve Bank of New York. The constant maturity yield values are read from the yield curve at fixed maturities. For example, this method provides a yield for a 10-year maturity, even if no outstanding security has exactly 10 years remaining to maturity. The 30-year series was discontinued as of February 2002, because the Treasury was no longer issuing such bonds. (In 2005, the 30-year bond was revived.) The current 20-year series begins in 1993 and is not comparable with an earlier 20-year series. For further information, see the historical data series on the Federal Reserve Web site at . Domestic corporate bond yields. The rates shown are for general obligation bonds based on Thursday figures, and are provided by Moody’s Investors Service and republished by the Federal Reserve. The Aaa rates through December 6, 2001, are averages of Aaa utility and Aaa industrial bond rates. As of December 7, 2001, these rates are averages of Aaa industrial bonds only.

Commercial paper, 3-month rates are interpolated from data on certain commercial paper trades settled by the Depository Trust Company. This company is a clearinghouse and custodian for nearly all domestic commercial paper activity. The trades, which are on a discount basis, represent sales of commercial paper by dealers or direct issuers. Annualized figures use a 360-day year. Prior to September 1997, the series represented both nonfinancial and financial commercial paper; since September 1997, only rates for financial companies have been shown, introducing a slight discontinuity into the series.

The state and local bond yields are the Bond Buyer index as republished by the Federal Reserve. The index is based on 20 state and local government general obligation bonds of mixed quality maturing in 20 years or less. Quotes are as of the Thursday of each week.The fixed rate mortgage rates are primary market contract interest rates on commitments for fixed-rate conventional 30-year first mortgages. The rates are obtained by the Federal Reserve from the Federal Home Loan Mortgage Corporation (FHLMC, or Freddie Mac).

CDs (secondary market), 3-month rates are averages of dealer offering rates on nationally traded certificates of deposit. Annualized figures use a 360-day year.

Stock price indexes. The Dow Jones industrial average is an average of 30 stocks compiled by Dow Jones, Inc. The Standard and Poor’s composite is an index of 500 stocks

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based on 1941–1943 = 10 compiled by Standard and Poor’s Corporation. The dividend-price ratio is compiled by Standard and Poor’s, covering the 500 stocks in the S&P index. It represents aggregate cash dividends (based on the latest known annual rate) divided by aggregate market value based on Wednesday closing prices. The earnings/price ratio measures earnings (after taxes) for four quarters, ending with the indicated quarter, as a ratio to the price index for the last day of that quarter. Monthly data are averages of weekly figures; annual data are averages of monthly or quarterly figures. The Nasdaq composite index is an average of over 4,000 stocks traded on the Nasdaq exchange. OFHEO house price index. The value of single-family owner-occupied houses has been an increasingly important element in household economic well-being and credit expansion. The Office of Federal Housing Enterprise Oversight (OFHEO), a government agency charged with regulation of the government-sponsored mortgage finance institutions Fannie Mae and Freddie Mac, uses data from those institutions to compile a quarterly index of the value of existing single-family homes. This index has been published since the fourth quarter of 1995. The data come from all properties for which a conventional, “conforming” mortgage has been purchased or securitized by Fannie Mae or Freddie Mac since January 1975. (A conforming mortgage is one no larger than the maximum that the institution will insure.) Every new mortgage transaction that can be matched against a previous transaction for that property yields a rate of price change, which enters into the calculation of the index. This data set is very large, with about 30 million repeat transactions over the 30 years. Due to the size of this data set, the index can be calculated not only for the

United States as a whole but also for regions, states, Metropolitan Statistical Areas (MSAs) and Metropolitan Divisions (subdivisions of MSAs). The OFHEO price index is subject to revision (typically, by a fairly modest amount) for recent quarters and years because of lagging reports; each new transaction also affects the rate of price change since the last time that the property involved in the new transaction changed hands or was refinanced. Data availability Interest rates and bond yields are published weekly in the Federal Reserve’s H.15 release; the release and current and historical data are available on the Federal Reserve Web site at . The starting dates for individual interest rate series vary; some date back to 1911, and many begin in the 1950s and 1960s. Stock market data are published monthly in Economic Indicators, available by subscription from the Superintendent of Documents, Government Printing Office, Washington, DC 20402-9328, and annually in Economic Report of the President, available from the same source. Some historical interest rate data not available on the Federal Reserve Web site were taken from the Economic Report of the President. The OFHEO house price indexes for the United States total, regions, states, and metropolitan and sub-metropolitan groups are available on the OFHEO Web site at . Explanatory material is available at the same location.

CHAPTER 13: INTERNATIONAL COMPARISONS

Figure 13-1. Real GDP Per Capita, United States and Japan, 1960–2004 (ratio scale)

2002 U.S. Dollars

44,400 26,900

16,300

United States 9,900

Japan 6,000

1960

1965

1970

1975

1980

1985

1990

1995

2000

2004

Year

• In the United States, gross domestic product (GDP) per capita grew at an annual rate of 2.3 percent between 1960 and 2000. The major industrial nations with the next-highest average levels of living in 1960—Germany, the United Kingdom, and Canada—grew at similar rates of 2.0 percent, 2.2 percent, and 2.3 percent, respectively. (German growth would have been higher, perhaps 2.3 percent, without the effect of unification of West Germany with the poorer East in 1991.) Industrial nations that were further behind in 1960—Japan, France, and Italy—grew faster: 3.9 percent, 2.5 percent, and 2.7 percent, respectively. The growth paths of the United States and Japan are compared in Figure 13-1 above. (Table 13-2) • In Japan and the four European countries compared in Tables 13-2 and 13-3, the growth in GDP per employed person—a measure of labor productivity—was almost identical to the growth in GDP per capita. In other words, growth in productivity and in potential living standards was the same. In contrast, growth in GDP per employee was only 1.7 percent per year in the United States and 1.5 percent in Canada, significantly less than their per capita output growth rate of 2.3 percent and less than productivity in Japan and the European countries. In the two major North American economies, a significant fraction of the growth in GDP per capita was obtained not from greater efficiency, but from putting a larger proportion of the population to work. (Tables 13-2 and 13-3) • In Japan, after five years of deflation, price declines ended after the third quarter of 2004 and the consumer price index was unchanged for the year as a whole. In the other countries, inflation in 2004 was positive but little changed from 2003. It remained within the 1 to 3 percent band. (Table 13-4) • In 2004, unemployment edged up to near 10 percent in both France and Germany, while edging down in the other five countries shown. (Table 13-5)

285

286

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 13-1. International Comparisons: Growth Rates in Real Gross Domestic Product (Percent change at annual rate.) Area and country

1986–1995

1996

1997

1998

1999

2000

2001

2002

2004 1

2003

World ...........................................................................

3.3

4.1

4.2

2.8

3.7

4.7

2.4

3.0

3.9

5.0

Advanced economies .................................................. United States .......................................................... Japan ...................................................................... United Kingdom ...................................................... Canada ...................................................................

3.0 2.9 3.1 2.5 2.3

3.0 3.7 3.5 2.8 1.6

3.4 4.5 1.8 3.3 4.2

2.7 4.2 -1.2 3.1 4.1

3.5 4.5 0.2 2.9 5.5

3.9 3.7 2.8 3.9 5.2

1.2 0.8 0.4 2.3 1.8

1.6 1.9 -0.3 1.8 3.4

2.1 3.0 2.5 2.2 2.0

3.6 4.3 4.4 3.4 2.9

Euro area ................................................................ Germany ............................................................. France ................................................................. Italy ..................................................................... Spain ................................................................... Netherlands ......................................................... Belgium ............................................................... Austria ................................................................. Finland ................................................................ Greece ................................................................ Portugal ............................................................... Ireland ................................................................. Luxembourg ........................................................

... 2.7 2.1 2.1 3.0 2.7 2.3 2.5 1.1 1.2 4.0 4.4 6.2

1.4 0.8 1.0 1.1 2.4 3.0 0.9 2.0 3.9 2.4 3.5 8.1 3.3

2.3 1.4 1.9 2.0 4.0 3.8 3.7 1.6 6.3 3.6 4.0 10.8 8.3

2.9 2.0 3.6 1.8 4.3 4.3 2.1 3.9 5.0 3.4 4.6 8.9 6.9

2.8 2.0 3.2 1.7 4.2 4.0 3.2 2.7 3.4 3.4 3.8 11.1 7.8

3.5 2.9 4.2 3.0 4.4 3.5 3.7 3.4 5.1 4.4 3.4 9.9 9.0

1.6 0.8 2.1 1.8 2.8 1.4 0.7 0.8 1.1 4.0 1.6 6.0 1.3

0.8 0.1 1.1 0.4 2.2 0.6 0.7 1.4 2.3 3.9 0.4 6.1 1.7

0.5 -0.1 0.5 0.3 2.5 -0.9 1.1 0.7 2.0 4.3 -1.2 3.7 2.1

2.2 2.0 2.6 1.4 2.6 1.1 2.5 1.6 2.8 3.9 1.4 4.7 2.8

Memorandum: Major advanced economies 2 ................................. Newly industrialized Asian economies 3 .................

2.7 8.1

2.8 6.4

3.2 5.6

2.7 -2.2

3.1 7.2

3.5 7.9

1.0 1.1

1.2 5.0

2.2 3.0

3.7 5.5

Other emerging market and developing countries ......

3.7

5.6

5.3

3.0

4.0

5.9

4.0

4.8

6.1

6.6

Regional groups: Africa ....................................................................... Central and eastern Europe .................................... Commonwealth of Independent States 4 ................ Russia ................................................................. Developing Asia ...................................................... China ................................................................... India .................................................................... Middle East ............................................................. Western Hemisphere .............................................. Brazil ................................................................... Mexico .................................................................

1.9 0.8 ... ... 7.7 9.9 5.7 2.7 2.8 2.5 1.6

5.7 4.8 -3.9 -3.6 8.2 9.6 7.5 4.6 3.7 2.7 5.2

3.2 4.2 1.1 1.4 6.5 8.8 5.0 5.3 5.2 3.3 6.8

3.1 2.8 -3.5 -5.3 4.1 7.8 5.8 3.8 2.3 0.1 5.0

2.7 0.4 5.1 6.3 6.2 7.1 6.7 2.4 0.4 0.8 3.6

2.9 4.9 9.1 10.0 6.7 8.0 5.4 5.5 3.9 4.4 6.6

4.0 0.2 6.4 5.1 5.5 7.5 3.9 3.6 0.5 1.3 -0.2

3.5 4.4 5.4 4.7 6.6 8.3 5.0 4.3 -0.1 1.9 0.8

4.3 4.5 7.8 7.3 7.7 9.1 7.2 6.0 1.8 -0.2 1.3

4.5 5.5 8.0 7.3 7.6 9.0 6.4 5.1 4.6 4.0 4.0

1All figures are forecasts as published by the International Monetary Fund. For United States, advance estimates by the Department of 2Includes Canada, France, Germany, Italy, Japan, United Kingdom, and United States. 3Includes Hong Kong SAR (Special Administrative Region of China), Korea, Singapore, and Taiwan Province of China. 4Includes Mongolia, which is not a member of the Commonwealth of Independent States, but is included for reasons of geography and

. . . = Not available.

Commerce show that real GDP grew 4.4 percent in 2004. similarities in economic structure.

CHAPTER 13: INTERNATIONAL COMPARISONS

287

Table 13-2. International Comparisons: Real GDP Per Capita (2002 U.S. dollars.) Year

United States

Germany 1

Japan

France

United Kingdom

Italy

Canada

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

14 407 14 503 15 147 15 583 16 263

5 329 5 961 6 413 6 906 7 597

11 361 11 730 12 134 12 355 13 046

9 427 9 843 10 313 10 670 11 249

11 716 11 904 11 935 12 468 13 072

8 187 8 800 9 283 9 732 9 922

11 448 11 573 12 136 12 520 13 090

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

17 091 17 997 18 250 18 940 19 333

7 864 8 685 9 536 10 552 11 675

13 593 13 847 13 772 14 471 15 404

11 688 12 196 12 668 13 111 13 915

13 288 13 475 13 730 14 243 14 480

10 161 10 685 11 370 12 038 12 700

13 686 14 314 14 479 15 020 15 595

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

19 144 19 539 20 355 21 323 21 021

12 613 12 989 13 886 14 794 14 419

16 024 16 343 16 931 17 651 17 663

14 581 15 135 15 669 16 389 16 788

14 762 14 984 15 478 16 544 16 316

13 304 13 498 13 845 14 652 15 324

15 782 16 123 16 789 17 778 18 258

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

20 778 21 673 22 447 23 448 23 922

14 683 15 111 15 626 16 303 17 055

17 505 18 526 19 094 19 690 20 511

16 665 17 304 17 781 18 297 18 862

16 231 16 670 17 085 17 652 18 109

14 921 15 816 16 120 16 649 17 519

18 392 19 148 19 580 20 177 20 818

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

23 594 23 948 23 261 24 093 25 599

17 400 17 782 18 147 18 314 18 765

20 643 20 624 20 445 20 877 21 552

19 112 19 305 19 757 20 045 20 283

17 707 17 444 17 798 18 420 18 863

18 091 18 211 18 312 18 532 19 039

20 836 21 212 20 362 20 709 21 707

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

26 420 27 089 27 755 28 640 29 375

19 597 20 076 20 739 22 051 23 131

22 044 22 545 22 874 23 582 24 195

20 574 20 946 21 275 22 065 22 774

19 485 20 208 21 084 22 087 22 503

19 599 20 093 20 691 21 498 22 098

22 538 22 856 23 514 24 365 24 557

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

29 593 29 152 29 724 30 125 30 958

24 254 24 968 25 116 25 104 25 315

25 094 23 606 23 949 23 586 24 140

23 261 23 425 23 762 23 429 23 832

22 610 22 223 22 218 22 693 23 646

22 516 22 813 22 971 22 754 23 251

24 235 23 446 23 371 23 655 24 520

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

31 360 32 144 33 190 34 176 35 291

25 742 26 565 26 998 26 633 26 616

24 525 24 697 25 095 25 612 26 108

24 308 24 489 24 991 25 789 26 532

24 266 24 900 25 661 26 392 27 065

23 930 24 185 24 661 25 096 25 509

24 948 25 088 25 889 26 726 27 976

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

36 181 36 078 36 386 37 125 38 392

27 323 27 365 27 196 27 823 28 337

26 913 27 183 27 179 27 167 27 600

27 453 27 843 28 009 28 062 28 538

28 032 28 479 28 894 29 438 30 273

26 269 26 717 26 737 26 596 26 658

29 166 29 369 29 937 30 263 30 872

1Data

prior to 1991 are for West Germany only. In 1991, real GDP per capita in West Germany alone was $26,023 (2002 U.S. dollars).

288

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 13-3. International Comparisons: Real GDP Per Employed Person (2002 U.S. dollars.) Year

United States

Japan

Germany 1

France

United Kingdom

Italy

Canada

1960 1961 1962 1963 1964

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

38 133 39 005 40 649 41 844 43 325

10 671 11 779 12 646 13 641 14 945

24 163 24 935 26 007 26 675 28 428

22 162 23 385 24 951 26 076 27 472

25 441 25 791 25 968 27 238 28 375

19 640 21 118 22 494 24 156 24 918

32 583 33 089 34 409 35 346 36 388

1965 1966 1967 1968 1969

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

45 003 46 544 46 611 47 853 48 146

15 551 16 783 18 266 20 060 22 242

29 781 30 706 31 642 33 339 35 278

28 697 29 970 31 294 32 724 34 486

28 747 29 246 30 320 31 750 32 421

26 376 28 419 30 084 32 070 34 271

37 372 38 240 38 293 39 628 40 497

1970 1971 1972 1973 1974

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

47 959 49 379 50 507 51 712 50 508

24 251 25 138 27 112 28 643 28 411

36 591 37 558 38 999 40 416 40 992

35 974 37 526 38 958 40 517 41 417

33 247 33 941 35 059 36 991 36 409

35 924 36 607 37 860 39 776 41 234

41 132 42 446 43 465 44 404 44 421

1975 1976 1977 1978 1979

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

50 980 52 001 52 521 53 178 53 364

29 362 30 281 31 236 32 565 34 001

41 596 44 044 45 232 46 212 47 367

41 664 43 093 44 113 45 367 46 732

36 358 37 553 38 442 39 511 40 172

40 358 42 562 43 433 44 870 46 831

44 639 46 167 46 930 47 408 47 376

1980 1981 1982 1983 1984

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

52 984 53 718 53 111 54 795 56 438

34 722 35 470 36 155 36 190 37 192

47 104 47 202 47 321 48 849 50 144

47 474 48 408 49 770 50 919 51 889

39 507 39 968 41 550 43 339 43 522

47 770 48 181 48 386 48 828 50 178

46 671 46 732 46 826 47 706 49 253

1985 1986 1987 1988 1989

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

57 608 58 296 58 764 59 890 60 787

38 872 39 818 41 166 43 446 45 081

50 783 51 264 51 648 53 157 54 293

53 301 54 327 55 059 56 935 58 138

44 512 45 991 47 156 47 929 47 741

51 186 52 120 53 554 55 078 56 274

50 198 49 921 50 559 51 536 51 759

1990 1991 1992 1993 1994

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

61 206 61 676 63 398 64 230 65 366

46 647 47 249 47 176 47 115 47 582

55 733 48 889 50 715 50 983 52 392

59 224 59 877 61 398 61 584 62 774

47 889 48 514 49 801 51 453 52 685

56 484 56 218 56 924 57 865 60 031

51 497 51 241 52 169 53 134 54 559

1995 1996 1997 1998 1999

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

66 079 67 593 69 120 70 987 73 050

48 437 49 893 50 306 50 080 50 553

53 262 53 939 54 964 55 417 55 777

63 687 64 143 65 397 66 715 67 596

54 219 55 233 56 055 57 203 58 052

61 855 62 142 63 160 63 625 63 974

55 151 55 550 56 647 57 546 59 175

2000 2001 2002 2003 2004

...................................................... ...................................................... ...................................................... ...................................................... ......................................................

73 875 74 403 76 021 77 619 80 187

52 065 52 601 53 074 54 552 55 474

56 508 56 930 57 341 57 895 58 595

68 529 68 747 69 090 69 700 71 341

59 604 60 476 61 077 61 833 63 205

64 681 64 557 63 652 63 090 63 310

60 753 61 066 61 484 61 286 61 954

1Data

prior to 1991 are for West Germany only. In 1991, real GDP per employed person in West Germany alone was $57,124 (2002 U.S. dollars).

289

CHAPTER 13: INTERNATIONAL COMPARISONS Table 13-4. International Comparisons: Consumer Price Indexes

(1982–1984 = 100, except as noted; not seasonally adjusted; percent changes are from previous year’s average for annual data, from the same quarter of the previous year for quarterly data.) United States Year and month Index

Germany 1

Japan

Percent change

Index

Percent change

Index

France

Percent change

Index

United Kingdom

Percent change

Index

Percent change

Italy Index

Canada Percent change

Index

Percent change

1950 1951 1952 1953 1954

...................... ...................... ...................... ...................... ......................

24.1 26.0 26.5 26.7 26.9

... 7.9 1.9 0.8 0.7

14.8 17.2 18.0 19.2 20.5

... 16.2 4.7 6.7 6.8

34.5 37.2 38.0 37.3 37.3

... 7.8 2.2 -1.8 0.0

11.1 13.0 14.6 14.4 14.3

... 17.1 12.3 -1.4 -0.7

9.8 10.7 11.7 12.1 12.3

... 9.2 9.3 3.4 1.7

... ... ... 10.3 10.6

... ... ... ... 2.9

21.6 23.9 24.5 24.2 24.4

... 10.6 2.5 -1.2 0.8

1955 1956 1957 1958 1959

...................... ...................... ...................... ...................... ......................

26.8 27.2 28.1 28.9 29.1

-0.4 1.5 3.3 2.8 0.7

20.2 20.3 20.9 20.8 21.1

-1.5 0.5 3.0 -0.5 1.4

38.0 39.0 39.8 40.6 41.0

1.9 2.6 2.1 2.0 1.0

14.5 14.8 15.3 17.6 18.7

1.4 2.1 3.4 15.0 6.2

12.9 13.5 14.0 14.4 14.5

4.9 4.7 3.7 2.9 0.7

10.9 11.2 11.4 11.7 11.7

2.8 2.8 1.8 2.6 0.0

24.4 24.8 25.6 26.3 26.6

0.0 1.6 3.2 2.7 1.1

1960 1961 1962 1963 1964

...................... ...................... ...................... ...................... ......................

29.6 29.9 30.2 30.6 31.0

1.7 1.0 1.0 1.3 1.3

21.8 23.0 24.6 26.4 27.4

3.3 5.5 7.0 7.3 3.8

41.6 42.6 43.8 45.1 46.2

1.5 2.4 2.8 3.0 2.4

19.4 20.0 21.0 22.0 22.7

3.7 3.1 5.0 4.8 3.2

14.6 15.1 15.8 16.1 16.6

0.7 3.4 4.6 1.9 3.1

11.9 12.2 12.7 13.7 14.5

1.7 2.5 4.1 7.9 5.8

26.9 27.1 27.4 27.9 28.4

1.1 0.7 1.1 1.8 1.8

1965 1966 1967 1968 1969

...................... ...................... ...................... ...................... ......................

31.5 32.4 33.4 34.8 36.7

1.6 2.9 3.1 4.2 5.5

29.5 31.0 32.3 34.0 35.8

7.7 5.1 4.2 5.3 5.3

47.8 49.4 50.1 50.8 51.8

3.5 3.3 1.4 1.4 2.0

23.3 23.9 24.6 25.7 27.3

2.6 2.6 2.9 4.5 6.2

17.4 18.1 18.5 19.4 20.5

4.8 4.0 2.2 4.9 5.7

15.2 15.5 16.1 16.3 16.7

4.8 2.0 3.9 1.2 2.5

29.1 30.2 31.3 32.5 34.0

2.5 3.8 3.6 3.8 4.6

1970 1971 1972 1973 1974

...................... ...................... ...................... ...................... ......................

38.8 40.5 41.8 44.4 49.3

5.7 4.4 3.2 6.2 11.0

38.5 40.9 42.9 47.9 59.1

7.5 6.2 4.9 11.7 23.4

53.5 56.2 59.2 63.2 67.6

3.3 5.0 5.3 6.8 7.0

28.8 30.3 32.2 34.6 39.3

5.5 5.2 6.3 7.5 13.6

21.8 23.8 25.5 27.9 32.3

6.3 9.2 7.1 9.4 15.8

17.5 18.4 19.4 21.6 25.7

4.8 5.1 5.4 11.3 19.0

35.1 36.2 37.9 40.7 45.2

3.2 3.1 4.7 7.4 11.1

1975 1976 1977 1978 1979

...................... ...................... ...................... ...................... ......................

53.8 56.9 60.6 65.2 72.6

9.1 5.8 6.5 7.6 11.3

66.0 72.2 78.1 81.4 84.4

11.7 9.4 8.2 4.2 3.7

71.7 74.8 77.4 79.4 82.4

6.1 4.3 3.5 2.6 3.8

43.9 48.2 52.7 57.5 63.6

11.7 9.8 9.3 9.1 10.6

40.1 46.8 54.2 58.7 66.6

24.1 16.7 15.8 8.3 13.5

30.0 35.1 41.0 46.0 52.8

16.7 17.0 16.8 12.2 14.8

50.1 53.8 58.1 63.3 69.1

10.8 7.4 8.0 9.0 9.2

1980 1981 1982 1983 1984

...................... ...................... ...................... ...................... ......................

82.4 90.9 96.5 99.6 103.9

13.5 10.3 6.2 3.2 4.3

90.9 95.4 98.0 99.8 102.1

7.7 5.0 2.7 1.8 2.3

86.7 92.2 97.1 100.2 102.7

5.2 6.3 5.3 3.2 2.5

72.3 82.0 91.6 100.5 107.9

13.7 13.4 11.7 9.7 7.4

78.5 87.9 95.4 99.8 104.8

17.9 12.0 8.5 4.6 5.0

64.0 75.4 87.8 100.7 111.5

21.2 17.8 16.4 14.7 10.7

76.1 85.6 94.9 100.4 104.7

10.1 12.5 10.9 5.8 4.3

1985 1986 1987 1988 1989

...................... ...................... ...................... ...................... ......................

107.6 109.6 113.6 118.3 124.0

3.6 1.9 3.6 4.1 4.8

104.2 104.8 104.9 105.7 108.1

2.1 0.6 0.1 0.8 2.3

104.7 104.5 104.6 105.7 108.8

1.9 -0.2 0.1 1.1 2.9

114.2 117.2 120.9 124.2 128.6

5.8 2.6 3.2 2.7 3.5

111.1 114.9 119.7 125.6 135.4

6.0 3.4 4.2 4.9 7.8

121.8 129.0 135.1 141.9 150.8

9.2 5.9 4.7 5.0 6.3

108.9 113.4 118.4 123.2 129.3

4.0 4.1 4.4 4.1 5.0

1990 1991 1992 1993 1994

...................... ...................... ...................... ...................... ......................

130.7 136.2 140.3 144.5 148.2

5.4 4.2 3.0 3.0 2.6

111.4 115.1 117.0 118.5 119.3

3.1 3.3 1.7 1.3 0.7

111.7 81.9 86.1 89.9 92.3

2.7 3.8 5.1 4.4 2.7

133.0 137.2 140.6 143.5 145.9

3.4 3.2 2.5 2.1 1.7

148.2 156.9 162.7 165.3 169.3

9.5 5.9 3.7 1.6 2.4

160.5 170.6 179.4 187.5 195.0

6.4 6.3 5.2 4.5 4.0

135.5 143.1 145.3 147.9 148.2

4.8 5.6 1.5 1.8 0.2

1995 1996 1997 1998 1999

...................... ...................... ...................... ...................... ......................

152.4 156.9 160.5 163.0 166.6

2.8 3.0 2.3 1.6 2.2

119.2 119.3 121.5 122.2 121.8

-0.1 0.1 1.8 0.6 -0.3

93.9 95.3 97.1 98.0 98.6

1.7 1.5 1.9 0.9 0.6

148.4 151.3 153.2 154.3 155.0

1.7 2.0 1.3 0.7 0.5

175.2 179.4 185.1 191.4 194.3

3.5 2.4 3.2 3.4 1.5

205.1 213.4 217.7 222.0 225.7

5.2 4.0 2.0 2.0 1.7

151.4 153.8 156.2 157.7 160.5

2.2 1.6 1.6 1.0 1.8

2000 2001 2002 2003 2004

...................... ...................... ...................... ...................... ......................

172.2 177.1 179.9 184.0 188.9

3.4 2.8 1.6 2.3 2.7

121.0 120.1 119.1 118.7 118.7

-0.7 -0.7 -0.8 -0.3 0.0

100.0 102.0 103.4 104.5 106.2

1.4 2.0 1.4 1.1 1.6

157.7 160.3 163.4 166.8 170.3

1.7 1.6 1.9 2.1 2.1

200.1 203.6 207.0 213.0 219.4

3.0 1.7 1.7 2.9 3.0

231.4 237.8 243.7 250.3 255.8

2.5 2.8 2.5 2.7 2.2

164.8 169.0 172.8 177.6 180.9

2.7 2.5 2.2 2.8 1.9

2003 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

2.9 2.1 2.2 1.9

... ... ... ...

-0.2 -0.2 -0.2 -0.3

... ... ... ...

1.2 0.9 1.0 1.2

... ... ... ...

2.4 1.9 1.9 2.2

... ... ... ...

3.1 3.0 2.9 2.7

... ... ... ...

2.7 2.7 2.7 2.5

... ... ... ...

4.5 2.8 2.1 1.7

2004 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

1.8 2.9 2.7 3.3

... ... ... ...

-0.1 -0.3 -0.1 0.5

... ... ... ...

1.0 1.8 1.9 2.0

... ... ... ...

1.8 2.4 2.3 2.1

... ... ... ...

2.6 2.8 3.1 3.4

... ... ... ...

2.3 2.3 2.2 2.0

... ... ... ...

0.9 2.2 2.0 2.3

1From

1950 through 1990, former West Germany only, 1982–1984 = 100. From 1991 forward, unified Germany, 2000 = 100. In 1991, the percent change is based on the 1991 index for former West Germany, which was 115.9. . . . = Not available.

290

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 13-5. International Comparisons: Unemployment Rates and Civilian Labor Forces 1 (Quarterly data are seasonally adjusted.) United States Year and quarter

Unemployment rate

Germany 2

Japan

Labor force (thousands)

Unemployment rate

Labor force (thousands)

Unemployment rate

France

Labor force (thousands)

Unemployment rate

United Kingdom

Labor force (thousands)

Unemployment rate

Labor force (thousands)

Italy Unemployment rate

Canada Labor force (thousands)

Unemployment rate

Labor force (thousands)

1959 .................................

5.5

68 369

2.3

43 320

2.0

25 850

1.6

18 480

2.8

23 880

4.8

21 020

5.6

6 286

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

5.5 6.7 5.5 5.7 5.2

69 628 70 459 70 614 71 833 73 091

1.7 1.5 1.3 1.3 1.2

44 120 44 610 45 040 45 430 46 040

1.1 0.6 0.6 0.5 0.4

25 990 26 160 26 210 26 290 26 270

1.5 1.2 1.4 1.6 1.2

18 520 18 530 18 720 19 100 19 430

2.2 2.0 2.7 3.3 2.5

24 130 24 380 24 720 24 940 25 070

3.7 3.2 2.8 2.4 2.7

20 820 20 830 20 680 20 240 20 220

6.5 6.7 5.5 5.2 4.4

6 462 6 575 6 670 6 805 6 994

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

4.5 3.8 3.8 3.6 3.5

74 455 75 770 77 347 78 737 80 734

1.2 1.4 1.3 1.2 1.1

46 780 47 850 48 810 49 690 50 140

0.3 0.3 1.3 1.1 0.6

26 360 26 290 25 730 25 690 25 960

1.6 1.6 2.1 2.7 2.3

19 650 19 850 20 070 20 190 20 470

2.1 2.3 3.3 3.2 3.1

25 240 25 320 25 290 25 180 25 160

3.5 3.7 3.4 3.5 3.5

19 900 19 620 19 800 19 780 19 620

3.6 3.4 3.8 4.5 4.4

7 207 7 493 7 747 7 951 8 194

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

4.9 5.9 5.6 4.9 5.6

82 771 84 382 87 034 89 429 91 949

1.2 1.3 1.4 1.3 1.4

50 730 51 120 51 320 52 590 52 440

0.5 0.6 0.7 0.7 1.6

26 240 26 380 26 470 26 780 26 660

2.5 2.8 2.9 2.8 2.9

20 800 21 000 21 150 21 430 21 660

3.1 4.2 4.4 3.7 3.7

25 110 25 381 25 510 25 731 25 806

3.2 3.3 3.8 3.7 3.1

19 720 19 660 19 450 19 590 19 900

5.7 6.2 6.2 5.5 5.3

8 395 8 639 8 897 9 276 9 639

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

8.5 7.7 7.1 6.1 5.8

93 775 96 158 99 009 102 251 104 962

1.9 2.0 2.0 2.3 2.1

52 530 53 100 53 820 54 610 55 210

3.4 3.4 3.4 3.3 2.9

26 430 26 290 26 330 26 520 26 860

4.2 4.6 5.2 5.4 6.1

21 770 22 050 22 380 22 540 22 780

4.5 5.4 5.6 5.5 5.4

25 939 26 031 26 116 26 234 26 470

3.4 3.9 4.1 4.1 4.4

20 090 20 290 20 510 20 570 20 850

6.9 6.9 7.8 8.1 7.3

9 974 10 368 10 661 11 022 11 392

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

7.1 7.6 9.7 9.6 7.5

106 940 108 670 110 204 111 550 113 544

2.0 2.2 2.4 2.7 2.8

55 740 56 320 56 980 58 110 58 480

2.8 4.0 5.6 6.9 7.1

27 260 27 540 27 710 27 670 27 800

6.5 7.6 8.3 8.6 10.0

22 930 23 090 23 320 23 400 23 560

6.9 9.7 10.8 11.5 11.8

26 758 26 872 26 664 26 695 27 363

4.4 4.9 5.4 5.9 5.9

21 120 21 320 21 410 21 590 21 670

7.3 7.3 10.7 11.6 10.9

11 725 12 080 12 145 12 372 12 588

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

7.2 7.0 6.2 5.5 5.3

115 461 117 834 119 865 121 669 123 869

2.7 2.8 2.9 2.5 2.3

58 820 59 410 60 050 60 860 61 920

7.2 6.6 6.3 6.3 5.7

28 020 28 240 28 390 28 610 28 840

10.5 10.6 10.8 10.3 9.6

23 620 23 760 23 890 23 980 24 170

11.4 11.4 10.5 8.6 7.3

27 581 27 746 28 019 28 357 28 677

6.0 7.5 7.9 7.9 7.8

21 800 22 290 22 350 22 660 22 530

10.2 9.3 8.4 7.4 7.1

12 835 13 089 13 345 13 590 13 851

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

5.6 6.8 7.5 6.9 6.1

125 840 126 346 128 105 129 200 131 056

2.1 2.1 2.2 2.5 2.9

63 050 64 280 65 040 65 470 65 780

5.0 5.6 6.7 8.0 8.5

29 410 39 075 39 005 39 102 39 074

8.6 9.1 10.0 11.3 11.9

24 165 24 330 24 445 24 490 24 676

7.1 8.9 10.0 10.4 8.7

28 773 28 544 28 214 28 094 28 124

7.0 6.9 7.3 9.8 10.7

22 670 22 940 22 910 22 771 22 592

7.7 9.8 10.7 10.8 9.6

14 043 14 136 14 143 14 233 14 336

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

5.6 5.4 4.9 4.5 4.2

132 304 133 943 136 297 137 673 139 368

3.2 3.4 3.4 4.1 4.7

65 990 66 450 67 200 67 240 67 090

8.2 9.0 9.9 9.3 8.5

38 980 39 142 39 415 39 754 39 375

11.3 11.8 11.7 11.2 10.5

24 743 24 985 25 109 25 434 25 764

8.7 8.1 7.0 6.3 6.0

28 135 28 243 28 406 28 478 28 782

11.3 11.3 11.4 11.5 11.0

22 574 22 674 22 749 23 000 23 172

8.7 8.9 8.4 7.7 7.0

14 439 14 604 14 863 15 115 15 389

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

4.0 4.7 5.8 6.0 5.5

142 583 143 734 144 863 146 510 147 401

4.8 5.1 5.4 5.3 4.8

66 990 66 860 66 240 66 010 65 760

7.8 7.9 8.7 9.7 9.8

39 301 39 456 39 499 39 591 39 698

9.1 8.4 9.0 9.6 9.8

26 078 26 354 26 686 26 870 ...

5.5 5.1 5.2 5.0 4.8

28 957 29 090 29 340 29 562 29 748

10.2 9.2 8.7 8.5 8.1

23 357 23 520 23 728 24 021 24 065

6.1 6.5 7.0 6.9 6.4

15 632 15 892 16 367 16 729 16 956

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5.8 6.1 6.1 5.9

... ... ... ...

5.4 5.5 5.2 5.1

... ... ... ...

9.6 9.8 9.8 9.7

... ... ... ...

9.3 9.5 9.7 9.8

... ... ... ...

5.1 5.0 5.0 4.9

... ... ... ...

8.7 8.4 8.6 8.4

... ... ... ...

6.7 6.9 7.1 6.8

... ... ... ...

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5.6 5.6 5.5 5.4

... ... ... ...

4.9 4.7 4.8 4.6

... ... ... ...

9.7 9.8 10.0 10.1

... ... ... ...

9.7 9.8 9.8 9.8

... ... ... ...

4.8 4.8 4.7 4.7

... ... ... ...

8.3 8.1 8.1 8.1

... ... ... ...

6.6 6.5 6.4 6.3

... ... ... ...

1Data 2Data

for other countries adjusted to approximate U.S. concepts. prior to 1991 are for West Germany only. In 1991, the unemployment rate for West Germany alone was 4.3 percent. . . . = Not available.

CHAPTER 13: INTERNATIONAL COMPARISONS

291

Figure 13-2. International Value of the U.S. Dollar, 1973–2004 (indexes, March 1973 = 100) 140 130

Index

120 110 100 90 80 70 1973

1978

1983

1988

1993

1998

2004

Year Major currencies, nominal

Other important trading partners, price-adjusted

• The value of the U.S. dollar against the euro, the new European currency, rose between 1999 (when the euro was introduced) and 2001, but has dropped sharply since then. At the end of 2004, a dollar could be bought for just 0.75 euros, compared with 1.12 in 2001. This exchange rate is frequently quoted as dollars to one euro rather than euros to a dollar; in those terms the euro was worth $1.34 in December 2004 but only $0.89 in 2001. The dollars-per-euro rate is high when the euro is strong. In the method used in Business Statistics, the rate is high when the dollar is strong, for consistency with the other measures shown in the table. (Table 13-6) • Indexes of the dollar’s international value give a broader picture than the exchange rate against the euro or any other single currency. Figure 13-2 above displays two such indexes. One shows the dollar against a weighted average of seven major currencies— the euro, the British pound, the Canadian dollar, the Japanese yen, the Swiss franc, the Australian dollar, and the Swedish krona. These are all major industrial countries whose currencies are freely traded on world markets. Measured against these major currencies in terms of annual averages, the dollar depreciated 21 percent from 2001 to 2004—a big change but not quite as big as the 3-year, 32 percent drop from 1985 to 1988. Dollar depreciation seems unsurprising in light of the large current-account deficits detailed in Chapter 7. (Table 13-6 and Chapter 7) • However, the dollar has not depreciated significantly against the emerging-market currencies (“Other important trading partners”) that account for much of our trade deficit. Therefore, currency adjustments are not bringing trade closer to balance in the way anticipated in basic economic theory. The reason is that many such countries, especially China, are able to control the international values of their currencies (through, for example, direct capital controls) and keep their currencies from appreciating relative to the dollar to maintain their competitiveness in the U.S. market. The result is that, between 2001 and 2004, the dollar actually rose relative to “Other important trading partners” (OITP), whether measured in nominal or in price-adjusted terms. The priceadjusted OITP index is shown in Figure 13-2 because it is the preferred measure of competitiveness over the longer term, for reasons described in the notes and definitions. (Table 13-6)

291

292

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 13-6. Exchange Rates (Not seasonally adjusted.) Foreign currency per U.S. dollar

Trade-weighted exchange indexes of value of U.S. dollar Nominal

Year and month

European currency unit

Japanese yen

German mark

French franc

British pound

Canadian dollar

Price-adjusted

G-10 Major Other important Other important Broad Broad countries currencies trading partners trading partners (January (March (March (March (January (March 1997 = 100) 1973 = 100) 1973 = 100) 1973 = 100) 1997 = 100) 1973 = 100)

1971 1972 1973 1974

............................... ............................... ............................... ...............................

... ... ... ...

346.62 303.11 271.40 291.94

3.4673 3.1889 2.6719 2.5873

5.4889 5.0448 4.4549 4.8104

0.4092 0.4005 0.4084 0.4277

1.0099 0.9908 1.0002 0.9781

117.81 109.07 99.14 101.42

... ... 31.73 32.61

... ... 100.23 102.05

... ... 2.04 2.14

... ... 98.98 95.74

... ... 96.97 87.81

1975 1976 1977 1978 1979

............................... ............................... ............................... ............................... ...............................

... ... ... ... ...

296.77 296.48 268.38 210.46 219.21

2.4614 2.5184 2.3225 2.0089 1.8331

4.2885 4.7805 4.9149 4.5101 4.2545

0.4521 0.5567 0.5733 0.5214 0.4720

1.0173 0.9861 1.0635 1.1408 1.1716

98.50 105.63 103.35 92.39 88.07

33.70 35.85 36.90 35.10 35.37

102.39 106.42 106.08 97.20 95.60

2.40 2.71 3.03 3.19 3.41

94.07 93.97 92.21 86.54 87.64

88.21 86.95 87.30 86.09 86.46

1980 1981 1982 1983 1984

............................... ............................... ............................... ............................... ...............................

... ... ... ... ...

226.58 220.45 249.05 237.45 237.59

1.8183 2.2606 2.4281 2.5545 2.8483

4.2269 5.4348 6.5761 7.6220 8.7439

0.4304 0.4978 0.5727 0.6601 0.7521

1.1694 1.1989 1.2339 1.2326 1.2952

87.39 103.26 116.50 125.33 138.34

36.36 40.35 46.84 52.81 60.12

95.35 104.66 115.75 120.44 128.75

3.76 4.28 5.52 7.45 9.79

89.16 96.28 105.58 110.08 117.20

85.82 88.25 98.66 107.98 114.29

1985 1986 1987 1988 1989

............................... ............................... ............................... ............................... ...............................

... ... ... ... ...

238.47 168.50 144.63 128.14 138.00

2.9443 2.1711 1.7976 1.7561 1.8792

8.9870 6.9258 6.0111 5.9565 6.3753

0.7792 0.6821 0.6117 0.5621 0.6111

1.3659 1.3898 1.3261 1.2309 1.1841

143.23 112.27 96.95 92.75 98.52

67.16 62.36 60.43 60.93 66.91

133.59 109.86 97.16 90.41 94.24

13.15 16.50 19.93 24.08 29.63

122.03 106.61 97.90 91.36 93.01

122.01 126.11 123.58 113.02 107.65

1990 1991 1992 1993 1994

............................... ............................... ............................... ............................... ...............................

... ... ... ... ...

144.82 134.51 126.75 111.23 102.19

1.6159 1.6585 1.5624 1.6537 1.6219

5.4449 5.6388 5.2956 5.6644 5.5467

0.5630 0.5667 0.5699 0.6662 0.6531

1.1670 1.1460 1.2088 1.2902 1.3659

89.05 89.73 86.64 93.16 91.32

71.42 74.36 76.92 83.79 90.88

89.87 88.51 87.02 89.91 88.42

40.12 46.72 53.16 63.39 80.55

91.40 89.99 88.10 89.47 89.32

110.72 110.20 106.58 103.98 104.11

1995 1996 1997 1998 1999

............................... ............................... ............................... ............................... ...............................

... ... ... ... 0.9387

94.11 108.81 121.06 130.99 113.73

1.4331 1.5049 1.7339 1.7593 1.8359

4.9889 5.1158 5.8361 5.8979 6.1575

0.6337 0.6410 0.6106 0.6034 0.6184

1.3727 1.3637 1.3849 1.4836 1.4858

84.30 87.34 96.35 98.82 ...

92.66 97.46 104.43 115.89 116.03

83.46 87.24 93.92 98.41 96.83

92.51 98.24 104.63 125.85 129.16

86.87 88.90 93.65 101.60 100.97

104.14 101.06 102.12 115.48 114.16

2000 2001 2002 2003 2004

............................... ............................... ............................... ............................... ...............................

1.0864 1.1180 1.0612 0.8851 0.8049

107.80 121.57 125.22 115.94 108.15

2.1248 2.1866 2.0755 1.7311 1.5743

7.1263 7.3336 6.9608 5.8058 5.2799

0.6611 0.6948 0.6667 0.6124 0.5458

1.4855 1.5487 1.5704 1.4008 1.3017

... ... ... ... ...

119.44 125.91 126.66 119.08 113.55

101.56 107.64 106.00 93.01 85.36

129.80 135.87 140.32 143.49 143.31

104.91 110.99 111.20 104.46 99.82

114.34 118.96 121.57 123.22 121.89

2002 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

1.1325 1.1485 1.1408 1.1288 1.0907 1.0462

132.68 133.64 131.06 130.77 126.38 123.29

2.2150 2.2463 2.2311 2.2077 2.1332 2.0462

7.4289 7.5339 7.4829 7.4042 7.1545 6.8625

0.6983 0.7029 0.7027 0.6931 0.6850 0.6742

1.5997 1.5964 1.5877 1.5815 1.5502 1.5318

... ... ... ... ... ...

128.79 129.52 128.77 128.40 126.84 125.40

111.20 111.98 110.95 110.15 107.14 104.32

137.18 137.74 137.52 137.86 138.80 139.86

112.85 113.38 113.12 113.07 111.57 110.28

118.76 118.66 119.27 120.03 120.80 121.69

July ............................. August ........................ September ................. October ...................... November .................. December ..................

1.0066 1.0225 1.0198 1.0192 0.9988 0.9812

117.90 118.99 121.08 123.91 121.61 121.89

1.9688 1.9998 1.9946 1.9935 1.9534 1.9190

6.6032 6.7070 6.6895 6.6858 6.5515 6.4362

0.6425 0.6507 0.6426 0.6421 0.6365 0.6305

1.5456 1.5694 1.5761 1.5780 1.5715 1.5592

... ... ... ... ... ...

123.65 125.07 125.99 126.90 125.62 124.97

101.76 103.21 103.43 103.89 102.44 101.47

139.73 140.87 142.82 144.33 143.57 143.61

108.74 110.13 110.82 111.43 109.96 109.09

121.53 122.68 123.97 124.88 123.44 123.13

2003 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

0.9416 0.9273 0.9264 0.9208 0.8656 0.8567

118.81 119.34 118.69 119.90 117.37 118.33

1.8416 1.8136 1.8118 1.8008 1.6930 1.6755

6.1765 6.0825 6.0766 6.0398 5.6782 5.6195

0.6183 0.6221 0.6320 0.6354 0.6164 0.6021

1.5414 1.5121 1.4761 1.4582 1.3840 1.3525

... ... ... ... ... ...

123.42 123.27 122.79 121.81 117.82 117.18

98.76 97.70 97.01 96.66 92.15 91.07

144.36 145.86 145.88 143.93 141.68 142.00

107.81 107.92 107.84 106.85 103.35 103.04

123.57 124.85 125.48 123.59 121.89 122.74

July ............................. August ........................ September ................. October ...................... November .................. December ..................

0.8800 0.8967 0.8879 0.8537 0.8542 0.8133

118.70 118.66 114.80 109.50 109.18 107.74

1.7211 1.7538 1.7366 1.6698 1.6706 1.5906

5.7723 5.8819 5.8242 5.6001 5.6030 5.3347

0.6166 0.6275 0.6193 0.5956 0.5918 0.5710

1.3821 1.3963 1.3634 1.3221 1.3130 1.3128

... ... ... ... ... ...

118.40 119.71 118.37 116.01 115.87 114.30

92.93 94.07 92.28 88.80 88.48 86.22

141.77 143.14 142.91 143.21 143.47 143.62

104.28 105.60 104.35 101.87 101.11 99.49

122.67 124.02 123.51 122.84 121.78 121.66

2004 January ...................... February ..................... March ......................... April ............................ May ............................ June ...........................

0.7913 0.7912 0.8157 0.8342 0.8334 0.8234

106.27 106.71 108.52 107.66 112.20 109.43

1.5477 1.5474 1.5953 1.6315 1.6301 1.6103

5.1908 5.1899 5.3503 5.4717 5.4670 5.4008

0.5478 0.5356 0.5477 0.5547 0.5600 0.5471

1.2958 1.3299 1.3286 1.3420 1.3789 1.3578

... ... ... ... ... ...

112.37 112.90 114.06 114.90 116.79 115.64

84.37 84.92 86.44 87.42 88.97 87.52

142.01 142.37 142.52 142.88 145.01 144.72

98.10 98.77 100.11 100.92 102.96 102.23

120.20 120.49 121.18 121.62 124.22 124.35

July ............................. August ........................ September ................. October ...................... November .................. December ..................

0.8154 0.8203 0.8181 0.7997 0.7695 0.7460

109.49 110.23 110.09 108.78 104.70 103.81

1.5947 1.6044 1.6001 1.5641 1.5050 1.4590

5.3484 5.3810 5.3664 5.2457 5.0477 4.8933

0.5424 0.5494 0.5575 0.5533 0.5375 0.5185

1.3225 1.3127 1.2881 1.2469 1.1968 1.2189

... ... ... ... ... ...

114.81 115.00 114.54 112.90 109.97 108.72

86.40 86.66 86.19 84.25 81.03 80.11

144.69 144.67 144.36 143.74 142.18 140.57

101.27 101.28 100.78 99.45 96.72 95.30

123.62 123.23 122.56 122.07 120.40 118.70

. . . = Not available.

CHAPTER 13: INTERNATIONAL COMPARISONS

NOTES AND DEFINITIONS TABLE 13-1 INTERNATIONAL COMPARISONS: GROWTH RATES IN REAL GROSS DOMESTIC PRODUCT SOURCE: ECONOMIC REPORT OF THE PRESIDENT, ANNUAL REPORT COUNCIL OF ECONOMIC ADVISERS, FEBRUARY 2005

OF THE

This table is reprinted from the 2005 Annual Report of the U.S. Council of Economic Advisers, where it appears as Table B-112. It is based on data from the U.S. Department of Commerce’s Bureau of Economic Analysis, and the International Monetary Fund. As these data were compiled in 2004, the data for recent years may differ somewhat from the latest available data—such as the U.S. GDP data shown in Chapter 1 of this volume. TABLES 13-2 AND 13-3 INTERNATIONAL COMPARISONS: REAL GDP PER CAPITA, REAL GDP PER EMPLOYED PERSON SOURCE: BUREAU

OF

LABOR STATISTICS (BLS)

Definitions and notes on the data Real GDP per capita can be taken as a rough measure of potential economic welfare; that is, the potential standard of living available to a country’s residents. Because income distributions are typically “skewed,” GDP per capita (which is an average or “mean”) should not be taken as a representation of the standard of living actually enjoyed by a typical (“median”) individual. See the subsection “Whose standard of living?” in the article “Using the Data: The U.S. Economy in the New Century” at the beginning of this volume. Real GDP per employed person is a rough measure of productivity (ignoring any differences in hours worked by employees). The GDP, population, and employment measures for each country come from the country’s own national accounts and population sources. Not all countries use annual chain-weighted methods such as those incorporated in U.S. GDP (see notes and definitions to Chapter 1). Some of the employment and population figures have been recalculated for greater comparability by BLS. GDP figures are converted from national currency values to U.S. dollar equivalents using Purchasing Power Parities (PPPs) published by the OECD in the OECD-Eurostat PPP Program. PPPs are currency conversion rates that allow output in different currency units to be expressed in a common unit of value (U.S. dollars in this case). They are pre-

293

ferred to international market exchange rates for this purpose. According to BLS, “At best, market exchange rates represent only the relative prices of goods and services that are traded internationally, not the relative value of total domestic output, which also consists of goods, and particularly services, that are not traded internationally, or which are isolated from the effects of foreign trade. Market exchange rates also are affected by…currency traders’ views of the stability of governments in various countries, relative interest rates among countries, and other incentives for holding financial assets in one currency rather than another.” Measuring PPPs is difficult and subject to error, and BLS points out that statistics using PPPs should be used with caution. “The per capita GDPs of most OECD countries fall within a relatively narrow range, and changes in rankings can occur as a result of relatively minor adjustments to PPP estimates.” References U.S. Department of Labor, Bureau of Labor Statistics, Office of Productivity and Technology, “Comparative Real Gross Domestic Product Per Capita and Per Employed Person, Fifteen Countries, 1960–2004,” July 22, 2005, available at . TABLE 13-4 INTERNATIONAL COMPARISONS: CONSUMER PRICE INDEXES SOURCE: U.S. DEPARTMENT STATISTICS

OF

LABOR, BUREAU

OF

LABOR

Notes on the data These data are prepared by the BLS Office of Productivity and Technology, based on national consumer price indexes as published by each country. The most recent update was done on June 6, 2005. The data are not adjusted for comparability across countries. National differences exist with respect to population coverage, frequency of market basket weight changes, and treatment of homeowner costs. BLS links published indexes together to form historical series and rebases the foreign indexes to the U.S. base 1982–1984 = 100, except in the case of unified Germany. The data for Germany are for West Germany through 1990 for the price index level and through 1991 for the percent change in the price index. Index levels for unified Germany (2000 = 100) are shown from 1991 forward. The percent changes are based on unified Germany beginning in 1992. For a description of the U.S. index, see the notes and definitions for Table 8-1.

294

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

TABLE 13-5 INTERNATIONAL COMPARISONS: UNEMPLOYMENT RATES AND CIVILIAN LABOR FORCES SOURCE: U.S. BUREAU

OF

LABOR STATISTICS

Notes on the data These data have been adjusted by BLS to approximate U.S. concepts and definitions. (See the notes and definitions for Tables 10-1 through 10-5.) The German data are for West Germany through 1990, and for unified Germany from 1991 to the present. Adding former East Germany raised the 1991 unemployment rate from 4.3 percent (for West Germany alone) to 5.6 percent for unified Germany. No adjustment is made to unemployment rates from Canada. Slight adjustments are made to those from Japan. Substantial adjustments were made to the Italian data prior to a 1992 definitional change. Before 1992, unemployment adjustment factors were based on annual household labor force surveys for France, Germany, and the United Kingdom. The concept of “layoff” differs from country to country. In the United States and Canada, persons who are laid off are classified as unemployed. The employees do not remain on the payroll, receive no payments from their firms, and are frequently not rehired. However, in Europe and Japan, these people are classified as employed. In general, employers reduce hours or days worked, rather than letting people go for weeks without work. The workers continue to receive pay, which is supplemented by a subsidy for time not worked. Due to these differences, the strict U.S. definition of unemployment is not applied on this point. The adjusted statistics use the age at which compulsory schooling ends in each country instead of the U.S. standard of 16 years and older. This is 16 years in France and in the United Kingdom since 1973; 15 years in Canada, Japan, Germany, and Italy since 1993, and the United Kingdom before 1973; and 14 years in Italy before 1993. Data pertain to the noninstitutional population except in Japan and Germany, where the institutionalized population of working age is included. There are several breaks in the series due to changes in methods or definitions. Among the more important of these are ones for the United States (1994), France (1992), Germany (1983 and 1991), and Italy (1986, 1991, and 1993). Data availability and references The most recent compendium of annual data was issued on May 13, 2005. The compendium is updated biannually, and monthly updates to unemployment rates are also

available on the Foreign Labor Statistics Web site at . TABLE 13-6 EXCHANGE RATES SOURCE: BOARD SYSTEM

OF

GOVERNORS

OF THE

FEDERAL RESERVE

Definitions and notes on the data This table shows measures of the U.S. dollar relative to foreign currencies—both to the currencies of some important individual countries and to average values for major groups of countries. All measures are defined as the foreign currency price of the U.S. dollar. Where its value is relatively high, the dollar is relatively “strong”— but less competitive—and the other currencies in question are relatively “weak” and more competitive. For consistency, this is done in Business Statistics even in the case of currencies that are commonly quoted in the financial press and elsewhere as dollars per foreign currency unit instead of foreign currency units per dollar. Notably, this is the case for the new euro and for the British pound. Where Business Statistics shows the 2004 value of the dollar as 0.8049 euros, the more usual statement—and the one found on the Federal Reserve release used as a source—is that during 2004 the euro on average was worth $1.2438 (one divided by 0.8049). Where Business Statistics shows the 2004 value of the dollar as 0.5458 British pounds, the more usual statement is that the pound averaged $1.8330. The Canadian dollar is also sometimes quoted relative to the U.S. dollar, rather than as shown here. Foreign exchange rates shown are averages of the daily noon buying rates in New York City for cable transfers payable in foreign currencies. Annual figures are averages of monthly data. The introduction of the euro in January 1999 as the common currency for 11 European countries—Austria, Belgium, Finland, France, Germany, Ireland, Italy, Luxembourg, Netherlands, Portugal, and Spain—marked a major change in the international currency system. A 12th country, Greece, entered the European Monetary Union in January 2001. The values of the currencies of these countries no longer fluctuate relative to each other, but the value of the euro still fluctuates relative to the dollar and to currencies for countries outside the European Monetary Union. The currency and coins of the individual countries continued to circulate from 1999 through the end of 2001; in January 2002, new euro currency and coins were introduced, replacing the currency and coins of the individual countries. Once a country has entered the monetary union, its value relative to the dollar continues to fluctuate—but due only to fluctuations in the value of the euro relative to the dollar.

CHAPTER 13: INTERNATIONAL COMPARISONS

To provide continuous series after 1998 for Germany and France, Business Statistics converts the euro to its equivalent in the former currencies for those countries, using the following fixed values for 1 euro: 1.95583 German marks and 6.55957 French francs. There is no fully satisfactory historical equivalent to the euro. For comparisons over time, the Federal Reserve Board uses a “restated German mark,” derived simply by dividing each historical value of the mark by the euro conversion factor, 1.95583. The same trends can be derived using the values for the mark shown in this table. Trade-weighted indexes of the value of the dollar against groups of foreign currencies also appear in this table. In each case, weighted averages of the individual currency values of the dollar are set at 100 in a base period. The weights are based on goods trade only, excluding trade in services. Base periods differ for different indexes. The first four columns show the more familiar type of foreign exchange indexes, which use nominal values of each currency. The last two columns are price-adjusted (indexes of “real” exchange rates), aggregating values of the dollar in terms of each currency that have been adjusted for inflation, using each country’s consumer price index. Where any currency has had an episode of hyperinflation with consequent huge depreciation in terms of the dollar, the nominal index will not reflect the actual competitiveness of the dollar in terms of that currency over the longer term. As there have been hyperinflations in some of the countries making up the Broad Index and its Other Important Trading Partners component (see below), price-adjusted indexes are also shown for those two groupings in the final two columns. G-10 Index (March 1973 = 100): This measure is an index of the exchange value of the U.S. dollar in terms of the weighted average currencies of the G-10 (other industrialized) countries, which are Belgium, Canada, France, Germany, Italy, Japan, the Netherlands, Sweden, Switzerland, and the United Kingdom. Unlike the three indexes that follow, the weights in this index—which represented “multilateral” (world market) trade shares— were fixed. The Federal Reserve stopped calculating this index as of December 1998. The three newer indexes, introduced in December 1998, use weights that focus more directly on U.S. competitiveness and that change as trade flows shift. Each country’s weight is based on an average of the country’s share of U.S. imports, the country’s share of U.S. exports, and the country’s share of exports that go to other countries that are large importers of U.S. goods. The index formula uses geometric averaging.

295

The Broad Index (January 1997 = 100): The new overall index includes currencies of all economies that have a share of U.S. non-oil goods imports or goods exports of at least 0.5 percent. These economies encompass the euro area and 25 other countries. The list of currencies and the weights are updated each year, though no changes have been made in the list of included countries. These countries are then classified as either Major Currencies or Other Important Trading Partners as outlined below. Major Currency Index (March 1973 = 100): This index serves purposes similar to those of the discontinued G-10 index, and its level and movements are similar. It is a measure of the competitiveness of U.S. goods in the major industrial countries and a gauge of financial pressure on the dollar. The index includes countries whose currencies are traded in deep and relatively liquid financial markets and circulate widely outside the country of issue. These are also countries for which information on short and longterm interest rates is readily available. As of February 2005, this index includes the currencies of Canada, the euro countries, Japan, United Kingdom, Switzerland, Australia, and Sweden. This list has not changed since the introduction of the new indexes in 1998. Other Important Trading Partners (OITP) Index (January 1997 = 100): This index captures the competitiveness of U.S. goods in key emerging markets in Latin America, Asia, the Middle East, and Eastern Europe, whose currencies do not circulate widely outside the country of issue. Hyperinflations and large depreciations for some of these countries have led to a persistent upward trend in the nominal version of this index. Hence, the nominal OITP index is mainly useful for analysis of short-term developments, and the priceadjusted index is shown to give a more appropriate measure of longer-term competitiveness. As of February 2005, the countries that make up this index include Mexico, China, Taiwan, South Korea, Singapore, Hong Kong, Malaysia, Brazil, Thailand, Indonesia, the Philippines, Russia, India, Saudi Arabia, Israel, Argentina, Venezuela, Chile, and Colombia. References and data availability Current press releases and historical data on exchange rates and exchange rate indexes are available on the Federal Reserve Web site at . The dollar value indexes are described in the article “Indexes of the Foreign Exchange Value of the Dollar,” Federal Reserve Bulletin, Winter 2005, available via a link from “Currency Weights” area of the same site. Additional information on exchange rates can be found on the Federal Reserve Bank of St. Louis Web site at .

PART B INDUSTRY PROFILES

CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE THE STRUCTURE OF U.S. INDUSTRY: AN INTRODUCTION TO THE NORTH AMERICAN INDUSTRY CLASSIFICATION SYSTEM (NAICS)

This subsector now contains dinner theaters, which used to be included in Eating places (a subdivision of “retail trade”).

This volume of Business Statistics incorporates data based on the new North American Industry Classification System (NAICS) for all of the major government statistical series that use classification by industry and have incorporated the new classification system.

The reader may refer to Table 17-4, Manufacturers’ Shipments, for an idea of the orders of magnitude of noncomparability among roughly matched industries. In this table—and in the three tables that follow, which were derived from the same survey—the editor has shown values for 1992 on both classification bases for roughlymatching industries such as Nonmetallic mineral products, Primary metals, Fabricated metal products, and Transportation equipment. Despite basic similarities in general definition between these industries in the old and new systems, the tabulated values can be quite different. As a result, it is evident that roughly matched industries cannot be viewed as continuous series..

Industry data collection is important, because demands for goods and services are channeled into demands for labor and capital through the industries responsible for producing the requested goods and services. NAICS delineates industries that are better defined in relation to today’s demands. It also groups together industries that are more closely related to each other by technology. Notable examples of these new features of NAICS include the more detailed data available on service industries, the more rational grouping of the “Computer and electronic product manufacturing” subsector, and the creation of the Information sector. The editor has prepared a table of NAICS industry definitions to use as a guide to the contents of the new categories, showing the NAICS 2-digit industry sectors and their component 3-digit subsectors. The table follows this introduction and precedes the chapters of statistical tables. Parenthetical listings are shown of the component activities in places where the short NAICS sector titles are not sufficiently self-explanatory. For the user needing information as to how the new classifications do (and do not) relate to the old Standard Industrial Classification System (SIC), a column showing a rough match between the 2002 NAICS and the 1987 SIC has been added to the table. It must be emphasized that this match is approximate, not exact, and does not reflect every aspect of the change in the classification systems. However, this column indicates just how thoroughly the SIC industries have been mixed and re-matched. The column therefore explains why it has been difficult for the statistical agencies to produce longer spans of historical data on the new basis. As a further illustration, the reader will note frequent references in this table to parts of SIC industries that have been parceled out among different NAICS industries. The editor has in some cases included, in parentheses, the part of the old SIC industry contained in the new NAICS industry. See the entry of new NAICS subsector 711, Performing arts and spectator sports, for an example.

NAICS industries are groupings of producing units—not of products as such—and are grouped according to similarity of production processes. This is done in order to collect consistent data on inputs and outputs, which are then used to measure important concepts such as productivity and input-output parameters. Emphasis on the production process helps to explain a number of ways in which NAICS differs from SIC. • Manufacturing activities at retail locations, such as bakeries, have been classified separately from retail activity and put into the food manufacturing industry. • Central administrative offices of companies have a new sector of their own, Management of companies and enterprises (sector 55). For example, the headquarters office of a food-producing corporation is considered part of the new sector instead of part of the food manufacturing industry. • Reproduction of packaged software, classified as a business service in the SIC, is now classified in sector 334, Computer and electronic product manufacturing, as a manufacturing process. • Electronic markets and agents and brokers, formerly undifferentiated components of wholesale trade industries, have a sector (425) of their own. • Retail trade in NAICS (sectors 44 and 45) now includes establishments such as office supply stores, computer and software stores, building materials dealers, plumbing supply stores, and electrical supply stores, that display merchandise and use mass-media advertising to sell to individuals as well as to businesses, and that were formerly classified in wholesale trade.

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References The reader needing more precise information on NAICS definitions and differences from the SIC should refer to Executive Office of the President, Office of Management and Budget, North American Industry Classification System: United States, 1997, which contains matches between the 1997 NAICS and the 1987 SIC, and North American Industry Classification System: United States, 2002, which contains matches showing the relatively few

changes from the 1997 NAICS to the 2002 NAICS. Both volumes are available from Bernan. These volumes fully describe the development and application of the new classification system. They are the sources for the material presented in this volume. Information is also available on the NAICS Web site, . Additional background information can also be found in Bernan, Business Statistics of the United States: 2002, pp. xxiv–xxviii.

CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE

Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

11

AGRICULTURE, FORESTRY, FISHING AND HUNTING

111

Crop production

112

Animal production

113

Forestry and logging

114

Fishing, hunting and trapping

115

Agriculture and forestry support activities

21

MINING

211

Oil and gas extraction

212

Mining, except oil and gas (includes coal mining, mining for ores, and mining and quarrying of nonmetallic minerals)

213

Support activities for mining (includes oil and gas well drilling and other support activities)

22

UTILITIES

221

Utilities (includes electric power generation, transmission, and distribution; natural gas distribution; water, sewage, irrigation, steam, and air-conditioning systems)

23

CONSTRUCTION

236

Construction of buildings

237

Heavy and civil engineering construction

238

Specialty trade contractors

31-33

MANUFACTURING

Division D, Manufacturing (excluding 241, Logging; 271, 272, 273, and 274, Publishing; and with other exclusions and inclusions)

311

Food manufacturing

20, Food and kindred products, excluding 208, Beverages

312

Beverage and tobacco product manufacturing

208, Beverages; 21, Tobacco products

313

Textile mills

221-4, 226, 228, Yarns, fabrics, and finishing

n.e.c. = Not elsewhere classified.

Division A, Agriculture, forestry, and fishing; 241, Logging

Division B, Mining

49, Electric, gas, and sanitary services (with some exclusions)

Division C, Construction

301

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Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

314

Textile product mills (including household and misc. products)

227, Carpets and rugs; 229, Misc. textile products

315

Apparel manufacturing

23, Apparel; 225, Knitting mills

316

Leather and allied product manufacturing

31, Leather and leather products

321

Wood product manufacturing

24, Lumber and wood products, excluding 241, Logging

322

Paper manufacturing

26, Paper and allied products

323

Printing and related support activities, including quick and instant

275-9, Commercial printing and misc. printing and trade services

324

Petroleum and coal products manufacturing (includes refineries, asphalt, oil and grease, and coke manufacturing)

29, Petroleum and coal products

325

Chemical manufacturing (includes basic organic and inorganic chemicals; plastics materials; synthetic fibers and rubber; agricultural chemicals; pharmaceuticals and medicine; paint, adhesives, cleaning, and toilet preparations; ink, explosives, and misc.)

28, Chemicals and allied products

326

Plastics and rubber products

30, Rubber and misc. plastics products

327

Nonmetallic mineral product manufacturing (includes pottery, plumbing fixtures, bricks and structural clay products, glass and products, cement and concrete, lime, gypsum, and stone products)

32, Stone, clay and glass products

331

Primary metal manufacturing (primary and secondary ferrous and nonferrous metals, rolling, drawing, and extruding, and foundries)

33, Primary metal industries

332

Fabricated metal product manufacturing (includes forging and stamping, cutlery, hardware, structural metal work, boilers, containers, machine shops, valves, fixtures, bearings, metal testing, small arms, ordnance, and ammunition)

34, Fabricated metal products

333

Machinery manufacturing (includes machinery for agriculture, construction, mining, manufacturing, commercial, and service industries, metalworking machinery, turbine and power transmission, pumps and compressors, elevators and material handling, cranes and misc. general purpose machinery)

Parts of 35, Industrial machinery and equipment; 36, Electronic and other electric equipment; and 38, Instruments and related products

334

Computer and electronic product manufacturing (includes electronic computers and equipment, communications equipment, audio and video equipment, semiconductors and other electronic components, electromedical equipment, navigation, measuring, and controlling instruments, reproducing software and media)

Parts of 357, Computer and office equipment; 36, Electronic and other electric equipment; 38, Instruments and related products; 73, Business services; and 78, Motion picture services

335

Electrical equipment and appliance manufacturing (includes electrical lighting, household appliances, electrical equipment, batteries, wire and cable manufacturing)

Parts of 36, Electronic and other electric equipment, and 335, Nonferrous wire drawing

336

Transportation equipment manufacturing (includes motor vehicles and parts, truck trailers, aerospace products and parts, railroad rolling stock, ship and boat building and repairing, motorcycles, bicycles, military armored vehicles, and parts)

37, Transportation equipment

337

Furniture and related product manufacturing

25, Furniture and fixtures; parts of other industries

339

Misc. manufacturing (includes medical equipment and supplies, jewelry, silverware, sporting goods, toys, games, office supplies, art supplies, burial caskets, and other goods)

Parts of 38, Instruments; 39, Misc.; 25, Furniture; and other industries

n.e.c. = Not elsewhere classified.

CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE

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Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

42

WHOLESALE TRADE

423

Merchant wholesalers, durable goods

Parts of 50, Wholesale trade–durable goods, and other industries

424

Merchant wholesalers, nondurable goods

Parts of 51, Wholesale trade–nondurable goods, and other industries

425

Electronic markets and agents and brokers

Parts of 50 and 51, Wholesale trade

44-45

RETAIL TRADE

441

Motor vehicle and parts dealers

Parts of 55, Automotive dealers and service stations, Wholesale trade, and other industries

442

Furniture and home furnishings stores

Parts of 57, Furniture and homefurnishing stores, Wholesale trade, and other industries

443

Electronics and appliance stores

5722, Household appliance stores; 5734, Computer and software stores; 5946, Camera and photo supply stores; and parts of wholesale trade and other industries

444

Building material and garden supply stores

52, Retail building materials and garden supplies, and parts of Wholesale trade

445

Food and beverage stores

54, Food stores, and 5921, Liquor stores

446

Health and personal care stores

5912, Drug stores and proprietary stores, and parts of Wholesale trade, Food stores and Misc. stores

447

Gasoline stations (including stations with convenience stores)

Parts of 55, Automotive dealers and service stations, and 54, Food stores

448

Clothing and clothing accessories stores

56, Apparel and accessory stores; 5944, Jewelry stores; and 5948, Luggage and leather goods stores

451

Sporting goods, hobby, book and music stores

Parts of 59, Misc. retail; 57, Furniture and homefurnishing stores; and other industries

452

General merchandise stores (includes department stores, warehouse clubs, superstores, and other general merchandise)

53, General merchandise, and parts of other retail

453

Misc. store retailers (includes florists, office supply & stationery, gift, used merchandise, pet, manufactured and mobile home, tobacco, and misc. other store retailers)

Parts of 59, Misc. retail, and other industries

454

Nonstore retailers (includes electronic shopping and auctions, mail order, vending machines, and fuel and other direct selling)

Parts of 59, Misc. retail, and 517, Wholesale petroleum

48-49

TRANSPORTATION AND WAREHOUSING

481

Air transportation

Parts of 45, Transportation by air

482

Rail transportation

Parts of 40, Railroad transportation

483

Water transportation

Parts of 44, Water transportation

484

Truck transportation

Parts of 42, Trucking and warehousing

485

Transit and ground passenger transportation

Parts of 41, Local and suburban transportation

n.e.c. = Not elsewhere classified.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

486

Pipeline transportation

46, Pipelines except natural gas, and parts of 492, Gas production and distribution

487

Scenic and sightseeing transportation

Parts of 41, Local and suburban, 44, Water, 45, Air, 47, Transportation services, and 7999, Amusement and recreation n.e.c.

488

Support activities for transportation

Parts of 11 industries in transportation, communications, manufacturing, and services

491

Postal service

4311, U.S. Postal Service, and part of 7389, Business services n.e.c.

492

Couriers and messengers

4513, Air couriers, and 4215, Courier services except air

493

Warehousing and storage

Parts of 422, Public warehousing and storage

51

INFORMATION

511

Publishing industries, except Internet

5111

Newspaper, book, and directory publishers

Parts of 271, Newspapers, 272, Periodicals, 273, Books, 274, Misc. publishing, 277, Greeting cards, and 733, Mailing, reproduction, and stenographic services

5112

Software publishers

Part of 7372, Prepackaged software

512

Motion picture and sound recording industries (includes music books and sheet music)

781, Motion picture production and services; 783, Motion picture theaters; and parts of 782, Motion picture distribution and services, and other manufacturing and service industries

515

Broadcasting, except Internet

483, Radio and television broadcasting; part of 484, Cable and other pay TV services

516

Internet publishing and broadcasting

Parts of publishing and service industries

517

Telecommunications

Parts of 481, Telephone communications, 482, Telegraph and other communications, and 484, Cable and other pay TV services

518

ISPs, search portals, and data processing

7374, Data processing and preparation; 7375, Information retrieval services; and parts of other service industries

519

Other information services (includes news syndicates, libraries, archives, and other information services)

8231, Libraries, and parts of other service industries

52

FINANCE AND INSURANCE

521

Monetary authorities-central bank

6011, Federal Reserve Banks

522

Credit intermediation and related activities (includes commercial banking, savings institutions, credit unions, credit card issuing, sales financing, consumer lending, real estate credit, trade financing, loan brokers, and processing and clearing)

Parts of 60, Depository institutions, and 61, Nondepository institutions

523

Securities, commodity contracts, investments

62, Security and commodity brokers, and parts of 60, Depository institutions, 61, Nondepository institutions, 63, Insurance carriers, and 67, Holding and other investment offices

524

Insurance carriers and related activities

64, Insurance agents, brokers, and service, and parts of 63, Insurance carriers

525

Funds, trusts, and other financial vehicles

672, Investment offices; 6798, Real estate investment trusts; parts of 63, Insurance carriers, and 673, Trusts

n.e.c. = Not elsewhere classified.

CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE

305

Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

53

REAL ESTATE AND RENTAL AND LEASING

531

Real estate

Parts of 65, Real estate, and 4225, General warehousing and storage (mini-warehouses and self-storage units)

532

Rental and leasing services

7352, Medical equipment rental; 7377, Computer rental and leasing; 751, Automotive rentals, no drivers; 7841, Video tape rental; and parts of 4499, Water transportation n.e.c., 4741, Rental of railroad cars, 7299, Misc. personal services n.e.c., 735, Misc. equipment rental, 7922, Theatrical producers and services, and 7999, Amusement and recreation n.e.c.

533

Lessors of nonfinancial intangible assets (except copyrighted)

6794, Patent owners and lessors, and part of 6792, Oil royalty traders

54

PROFESSIONAL AND TECHNICAL SERVICES (includes legal, accounting, bookkeeping, architectural, engineering, design, computer design and programming, management and other consulting, scientific research and development, advertising and public relations, market research, polling, and other services)

0741, Veterinary services; 6541, Title abstract offices; 731, Advertising; 7221, Photographic studios, portrait; 7921, Tax return preparation; 7336, Commercial art and graphic design; 7361, Employment agencies, 7371, Computer programming; 7373, Computer systems design; 7376, Computer facilities management; 8111, Legal services; 871, Engineering and architectural services; 873, Research and testing; and parts of mining, 37 (aircraft and guided missiles), 73, Business services, 87, Engineering and management services, and other industries

55

MANAGEMENT OF COMPANIES AND ENTERPRISES

671, Holding companies, and establishments classified as auxilaries in producing industries

56

ADMINISTRATIVE AND WASTE SERVICES

561

Administrative and support services (Includes office administrative, employment placement, temporary help, telephone call centers, collection agencies, credit bureaus, court reporting, travel arrangement, investigation and security, services to buildings, and other support services)

0782, Lawn and garden services, 0783, Ornamental shrub and tree services, 4724, Travel agencies, 4725, Tour operators, 7217, Carpet and upholstery cleaning, 732, Credit reporting and collection, 7338, Secretarial and court reporting, 734, Services to buildings, 7363, Help supply services, 7381, Detective and armored car services, 7382, Security systems, 8744 Facilities support, and parts of 458, Airfields, 472, Passenger transportation arrangement, 495, Sanitary services, 729, Misc. personal services, 73, Business services, 769, Misc. repair shops, 7819, Services allied to motion pictures, 79, Amusement and recreation services, 86, Membership organizations, and 8741, Management services

562

Waste management and remediation services

4953, Refuse systems, and parts of 1799, Special trade contractors, 4212, Local trucking, 4959, Sanitary services, 735, Misc. equipment rental and leasing (portable toilet rental) and 769, Misc. repair shops

61

EDUCATIONAL SERVICES

82, Educational services, except 823, Libraries; and parts of 7231, Beauty shops, 7241, Barber shops, 7911, Dance studios, 7999, Amusement and recreation n.e.c. and 8748, Business consulting n.e.c. (educational testing services)

62

HEALTH CARE AND SOCIAL ASSISTANCE

621

Ambulatory health care services

Offices and clinics for 801, Doctors, 802, Dentists, 803, Osteopaths, and 804, Other health practicioners; 8071, Medical laboratories; 8082, Home health care services; 4119, Ambulances; 4522, Air ambulances; and parts of 809, Health and allied services n.e.c.

622

Hospitals

806, Hospitals

623

Nursing and residential care facilities

805, Nursing and personal care facilities, and 836, Residential care

624

Social assistance

8322, Individual and family services, except parole and probation offices; 8331, Job training, and 8351, Child day care services

n.e.c. = Not elsewhere classified.

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Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

71

ARTS, ENTERTAINMENT, AND RECREATION

711

Performing arts and spectator sports

7929, Bands and other entertainment groups; 7941, Professional sports clubs and promoters; 7948, Racing; parts of 5812, Eating places (dinner theaters) and 6512, Building operators (stadium and arena owners); and agents, artists, writers, performers, correspondents, taxidermists, and antique restorers, previously classified as part of 738, Misc. business services; 76, Misc. repair services; 7819, Motion picture services; 7999, Amusement and recreation n.e.c.; and 8999, Membership organizations, n.e.c.

712

Museums, historical sites, zoos, and parks

84, Museums, botanical, and zoological gardens, and part of 7999, Amusement and recreation n.e.c. (caverns and misc. commercial parks)

713

Amusements, gambling, and recreation

4493, Marinas; 793, Bowling centers; 7991, Physical fitness facilities; 7992, Public golf courses, 7995, Coin operated amusments; 7996, Amusement parks; 7997, Membership sports and recreation clubs; and parts of 7911, Dance studios, and 7999, Amusement and recreation n.e.c.

72

ACCOMMODATION AND FOOD SERVICES

721

Accommodation (includes hotels, motels, bed-and-breakfast inns, RV parks, camps, and rooming and boarding houses)

70, Hotels and other lodging places

722

Food services and drinking places

5812, Eating places (other than dinner theaters), 5813, Drinking places, and parts of 4789, Transportation services n.e.c. (contract dining car operations), 5641, Retail bakeries, and 5963 Direct selling (mobile food wagons)

81

OTHER SERVICES, EXCEPT PUBLIC ADMINISTRATION

811

Repair and maintenance

753, Automotive repair shops (other than tire retreading); 7542, carwashes; 7631, Watch, clock and jewelery repair; 7692, Welding repair; and parts of 3732 (boat repair), 7219 (clothing alteration and repair), 7251 (shoe repair), 7378 (computer repair), 7549 (auto window tinting), 7622 (radio and tv repair), 7623 (refrigeration repair), 7629, Electrical repair n.e.c., 7641, Reupholstery and furniture repair, 7694, Armature, rewinding, and 7699, Repair services n.e.c.

812

Personal and laundry services

6553, Cemetery subdividers and developers; 7211, power laundries; 7212, Garment pressing and cleaners’ agents; 7213, Linen supply; 7215, Coin operated laundries and cleaning; 7216, Drycleaning except rugs; 7218, Industrial launderers; 7261, Funeral service and crematories; 7384, photofinishing laboratories; 7521, Auto parking; and parts of 0752 (pet care), 6531, Real estate agents and managers (cemetery management), 7219 (diaper and misc. services), 7231 (beauty shops), 7241 (barber shops), 7251 (shoe shine parlors), and 7389 (apparel pressing for the trade, bail bonding)

813

Membership associations and organizations

6732, Educational, religious and charitable trusts; 8399, Social services n.e.c. (voluntary health organizations, human rights organizations, environment, conservation, and wildlife, and other grant making, giving, and social advocacy organizations); 8611, Business associations; 8621, Professional organizations; 8631, Labor organizations; 8651, Political organizations; 8661, Religious organizations; and parts of 6531, Real estate agents and managers (condominium associations), 8641, Civic and social organizations (all except tribal governments), and 8699, Membership organizations n.e.c. (all except motor travel clubs)

814

Private households

8811, Private households

n.e.c. = Not elsewhere classified.

CHAPTER 14: INDUSTRY DEFINITION AND STRUCTURE

307

Table 14-1. NAICS Industry Definitions: With Rough Derivation from SIC—Continued NAICS Code

NAICS 2-digit industry sector and 3-digit industry subsector

Roughly corresponding major component SIC industry group or industry

92

PUBLIC ADMINISTRATION

921

Executive, legislative, and general government

91, Executive, legislative, and general; 9311, Finance, taxation, and monetary policy; and part of 8641, Civic and social associations (tribal governments)

922

Justice, public order, and safety activities

92, Justice, public order, and safety, and part of 8322, Individual and family services (parole and probation)

923

Administration of human resource programs

94, Administration of human resources

924

Administration of environmental programs

951, Environmental quality

925

Community and housing program administration

953, Housing and urban development

926

Administration of economic programs

9611, Administration of general economic programs; 9631, Regulation and administration of utilities; 9641, Regulation of agricultural marketing; 9651, Misc. commercial regulation; and parts of 9621, Regulation and administration of transportation (all except air traffic control)

927

Space research and technology

9661, Space research and technology

928

National security and international affairs

97, National security and international affairs

n.e.c.= Not elsewhere classified.

CHAPTER 15: PRODUCT AND INCOME BY INDUSTRY

Figure 15-1. Output Change by NAICS Industry Group

NAICS Industry Group

(percent change in real value added, 1998–2004) Total real GDP Agriculture and related Mining Utilities Construction Manufacturing Wholesale trade Retail trade Transportation and warehousing Information Finance, insurance, real estate, and related Professional and business services Education, health, and social assistance Accommodation, food service, and recreation Other private services Government -20

19.6 14.5 -13.4 24.3 2.4 16.7 15.4 38.6 17.7 46.3 27.2 18.7 18.2 15.3 3.0 8.3

0

20

40

60

Percent

• Calculations of real output (value added in chained 2000 dollars) are available on a NAICS industry basis for the last seven years only. Between 1998 and 2004, total real GDP rose 19.6 percent, for an annual rate of 3.0 percent. This increase provides a basis for comparison with component industry groups over the same years. It may be lower than the potential national long-term growth rate, as the 2004 unemployment rate of 5.5 percent is higher than the 1998 rate of 4.5 percent. (Tables 15-3 and 10-3) • Of the 15 industry groups represented in Table 15-3 and in Figure 15-1 (above), there were four that expanded significantly faster than the average. The fastest-growing was information, whose output rose 46 percent. Retail trade was next, with a 39 percent increase. The finance, insurance, and real estate group grew 27 percent and utilities grew 24 percent. (Table 15-3) • Retail trade activity rose far more than U.S. output of agriculture and of manufactured products. Retailers merchandise imported products as well as domestically-produced goods. (Table 15-3) • The new Table 15-4 can be used to assess the share of each industry group in total domestic factor income, and the shares paid to employees and accruing to land and capital in each private industry. In 2003, labor shares were smallest, and capital intensity correspondingly greatest, in agriculture, mining, utilities, and real estate. However, it should be noted that the real estate group is dominated by owner-occupied housing, which by definition does not have any paid employment. The highest labor share was in education, and labor shares exceeding 70 percent were also found in durable goods manufacturing, management, administrative and waste management, health care and social assistance, accommodation and food services, and other services.

309

310

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 15-1. Gross Domestic Product (Value Added) by SIC Industry Group, 1987–2000 (Billions of dollars; index numbers, 1996 = 100.) Private industries Manufacturing Year and series definition

Gross domestic product

Total

Agriculture, forestry, and fishing

Mining

Construction

Durable goods

Nondurable goods

Transportation

Communications

Electric, gas, and sanitary services

Wholesale trade

Retail trade

VALUE 1987 ................................. 1988 ................................. 1989 .................................

4 742.5 5 108.3 5 489.1

4 081.4 4 401.8 4 735.5

88.9 89.1 102.0

92.2 99.2 97.1

219.3 237.2 245.8

516.8 566.3 582.7

371.8 413.6 434.9

158.8 169.2 172.2

125.5 132.8 137.4

141.9 147.0 159.0

308.9 346.6 364.7

434.5 461.5 492.7

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

5 803.2 5 986.2 6 318.9 6 642.3 7 054.3

4 996.7 5 129.1 5 424.5 5 717.5 6 096.7

108.3 102.9 111.7 108.3 118.5

111.9 96.7 87.6 88.4 90.2

248.7 232.7 234.4 248.9 275.3

586.6 575.5 594.0 632.8 694.1

454.0 468.0 488.0 498.6 529.1

177.4 186.1 193.4 206.0 223.2

148.1 155.7 163.9 178.6 190.7

165.4 176.5 181.2 188.7 197.4

376.1 395.6 414.6 432.5 479.2

507.8 523.7 551.7 578.0 620.6

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

7 400.5 7 813.2 8 318.4 8 781.5 9 274.3

6 411.1 6 792.8 7 253.6 7 678.2 8 123.0

109.8 130.4 130.0 128.0 127.7

95.7 113.0 118.9 100.2 104.1

290.3 316.4 338.2 380.8 425.4

729.8 748.4 791.2 830.7 853.8

559.2 567.6 588.4 600.8 627.5

233.4 243.4 261.8 288.7 301.9

202.3 214.7 220.8 238.5 257.2

206.9 208.3 205.9 204.8 211.0

500.6 529.6 566.8 607.9 645.3

646.8 687.1 740.5 790.4 831.7

2000 .................................

9 824.6

8 606.9

134.3

133.1

461.3

886.4

633.9

313.7

279.1

216.5

696.8

887.3

1987 ................................. 1988 ................................. 1989 .................................

78.2 81.5 84.4

76.7 80.2 83.2

84.6 77.6 85.4

87.2 101.3 91.0

88.0 93.0 93.6

72.3 79.1 78.8

90.2 93.6 92.5

66.7 68.8 70.9

61.8 65.6 68.1

79.6 82.2 87.7

66.8 71.6 75.4

74.5 79.3 81.9

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

85.9 85.5 88.1 90.4 94.0

84.5 84.0 86.6 89.0 93.0

90.9 93.0 100.2 94.0 104.1

93.6 89.5 84.7 89.4 95.6

91.9 84.9 85.9 88.2 93.9

78.2 74.7 76.0 80.2 87.7

91.7 90.0 91.6 92.6 97.1

74.2 76.4 79.5 82.7 89.8

72.3 75.5 78.9 84.8 88.9

91.2 94.1 92.8 92.8 94.5

74.6 78.7 84.0 85.4 90.9

81.4 80.7 82.9 84.7 89.8

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

96.6 100.0 104.4 108.9 113.4

95.8 100.0 105.3 110.3 115.6

94.4 100.0 110.1 111.5 118.5

99.9 100.0 103.5 105.9 101.5

94.7 100.0 102.6 110.3 116.2

95.5 100.0 108.6 119.3 126.8

100.5 100.0 101.3 97.9 100.6

92.5 100.0 102.3 106.0 110.4

94.3 100.0 101.4 107.7 118.9

99.5 100.0 97.0 93.0 100.3

91.2 100.0 110.3 125.3 133.8

93.4 100.0 108.5 116.4 123.2

2000 .................................

117.6

120.1

127.8

90.1

119.5

139.5

98.3

116.1

133.6

102.7

141.7

132.3

QUANTITY INDEX

Private industries—Continued Finance, insurance, and real estate 1 Year and series definition

Government Services 1

Real estate Total

Depository institutions

Nonfarm housing services

Other real estate

Total

Business services

Health services

Other services

Statistical discrepancy

Total

Federal

State and local

VALUE 1987 ................................. 1988 ................................. 1989 .................................

829.7 893.7 954.5

143.9 147.6 157.2

391.9 424.3 456.7

139.5 162.0 174.0

789.9 887.9 976.0

145.0 166.9 183.7

230.6 253.6 280.7

103.3 119.8 135.8

3.3 -42.2 16.3

661.0 706.5 753.6

258.9 273.3 287.1

402.1 433.2 466.5

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

1 010.3 1 072.2 1 140.9 1 205.3 1 254.8

171.3 193.9 205.3 200.9 200.7

488.3 515.5 543.4 558.1 593.9

177.3 173.6 181.8 193.5 197.5

1 071.5 1 123.8 1 219.4 1 287.7 1 365.0

203.9 205.3 229.4 247.6 273.2

314.4 345.3 377.8 394.5 413.9

149.2 150.0 161.1 170.6 178.6

30.6 19.6 43.7 63.8 58.5

806.6 857.1 894.4 924.8 957.6

300.2 322.4 333.9 336.2 339.6

506.4 534.7 560.5 588.6 618.0

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 347.2 1 436.8 1 569.9 1 708.5 1 798.8

227.4 241.0 273.9 300.0 330.3

628.9 654.6 679.1 718.7 766.9

203.7 217.0 241.0 262.9 283.5

1 462.4 1 564.2 1 691.5 1 829.9 1 977.2

302.0 342.3 395.5 439.8 501.0

433.1 459.1 472.2 491.1 515.4

194.4 208.9 229.7 254.5 276.0

26.5 32.8 29.7 -31.0 -38.8

989.5 1 020.4 1 064.8 1 103.3 1 151.3

342.3 346.9 354.7 359.9 369.8

647.2 673.5 710.1 743.4 781.5

2000 .................................

1 976.7

361.1

811.4

312.3

2 116.4

534.4

548.5

300.3

-128.5

1 217.7

389.5

828.2

1987 ................................. 1988 ................................. 1989 .................................

81.4 84.2 85.9

91.5 90.3 95.8

81.4 84.2 87.0

71.2 83.5 84.8

75.5 80.2 84.0

54.7 61.0 66.0

85.5 86.9 88.9

73.2 79.9 87.9

... ... ...

91.9 94.2 96.5

106.5 107.4 108.8

84.5 87.5 90.2

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

87.0 88.4 90.3 92.5 93.8

101.2 102.3 97.4 97.1 94.6

88.6 90.9 93.0 93.1 96.5

84.3 80.2 87.9 90.2 90.5

87.1 86.5 89.0 90.7 93.2

70.5 68.9 74.4 78.8 86.2

92.2 94.3 96.4 95.3 95.5

91.6 87.4 86.8 90.5 92.0

... ... ... ... ...

98.8 99.2 99.5 99.3 99.6

110.9 111.0 110.2 107.7 105.8

92.7 93.2 94.1 95.1 96.4

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

97.0 100.0 105.9 112.9 117.5

100.6 100.0 102.1 106.4 114.1

99.0 100.0 101.0 103.5 107.6

94.4 100.0 111.9 123.9 128.7

96.6 100.0 104.4 108.6 113.1

91.7 100.0 112.2 120.0 131.3

96.8 100.0 100.1 100.4 102.5

95.7 100.0 105.9 114.2 119.7

... ... ... ... ...

99.7 100.0 101.5 102.6 104.0

102.1 100.0 100.1 100.2 99.9

98.4 100.0 102.2 103.9 106.1

2000 .................................

124.8

119.2

110.4

136.2

116.7

134.4

106.3

126.3

...

106.7

102.3

108.9

QUANTITY INDEX

Note: These data are reprinted without change from Business Statistics 2004 in order to provide data for years prior to those shown in Tables 15-2 and 15-3. 1Includes

industries not shown separately. . . . = Not available.

CHAPTER 15: PRODUCT AND INCOME BY INDUSTRY

Table 15-2. Value Added (Gross Domestic Product) by NAICS Industry Group, in Current Dollars (Billions of current dollars.) NAICS industry

1998

1999

2000

2001

2002

2003

2004

Gross domestic product .........................................................................................

8 747.0

9 268.4

9 817.0

10 128.0

10 487.0

11 004.0

11 735.0

Private industries ................................................................................................ Agriculture, forestry, fishing, and hunting ....................................................... Farms ......................................................................................................... Forestry, fishing, and related activities ....................................................... Mining 1 .......................................................................................................... Oil and gas extraction ................................................................................ Mining, except oil and gas .......................................................................... Utilities ............................................................................................................ Construction ................................................................................................... Manufacturing ................................................................................................ Durable goods 1 ......................................................................................... Computer and electronic products ......................................................... Motor vehicles, bodies and trailers, and parts ........................................ Nondurable goods 1 ................................................................................... Food and beverage and tobacco products ............................................. Chemical products ................................................................................. Wholesale trade ............................................................................................. Retail trade ..................................................................................................... Transportation and warehousing 1 ................................................................. Air transportation ........................................................................................ Rail transportation ...................................................................................... Truck transportation ................................................................................... Transit and ground passenger transportation ............................................ Other transportation and support activities ................................................ Warehousing and storage .......................................................................... Information ..................................................................................................... Publishing industries (includes software) ................................................... Motion picture and sound recording industries .......................................... Broadcasting and telecommunications ...................................................... Information and data processing services .................................................. Finance, insurance, real estate, rental, and leasing ....................................... Finance and insurance ............................................................................... Federal Reserve banks, credit intermediation, and related activities ..... Securities, commodity contracts, and investments ................................ Insurance carriers and related activities ................................................. Funds, trusts, and other financial vehicles ............................................. Real estate and rental and leasing ............................................................. Real estate ............................................................................................. Rental and leasing services and lessors of intangible assets ................ Professional and business services ............................................................... Professional, scientific, and technical services .......................................... Legal services ........................................................................................ Computer systems design and related services .................................... Miscellaneous professional, scientific, and technical services ............... Management of companies and enterprises .............................................. Administrative and waste management services ....................................... Administrative and support services ...................................................... Waste management and remediation services ...................................... Educational services, health care, and social assistance .............................. Educational services .................................................................................. Health care and social assistance .............................................................. Ambulatory health care services ............................................................ Hospitals and nursing and residential care facilities .............................. Social assistance ................................................................................... Arts, entertainment, recreation, accommodation, and food services ............. Arts, entertainment, and recreation ............................................................ Accommodation and food services ............................................................ Accommodation ..................................................................................... Food services and drinking places ......................................................... Other services, except government ...............................................................

7 652.5 102.4 78.9 23.5 74.8 35.2 27.0 180.8 374.4 1 343.9 806.9 165.7 108.8 537.0 137.5 153.4 542.9 598.6 273.7 52.5 24.5 86.2 13.8 59.9 21.1 381.6 96.7 25.3 229.8 29.8 1 684.6 641.1 277.7 134.1 217.4 11.9 1 043.5 950.3 93.2 976.2 565.3 120.9 92.9 351.6 156.8 254.0 231.9 22.2 601.5 67.6 533.9 276.1 214.5 43.3 306.0 76.8 229.1 78.1 151.1 211.1

8 127.2 93.8 68.8 25.0 85.4 47.2 27.5 185.4 406.6 1 373.1 820.4 162.8 115.4 552.7 153.6 157.1 577.7 635.5 287.4 54.9 24.7 89.8 14.4 64.8 23.2 439.3 118.7 30.1 253.8 36.7 1 798.4 679.8 308.0 139.9 216.9 15.0 1 118.6 1 017.9 100.6 1 064.5 613.9 127.3 107.8 378.8 170.5 280.1 255.4 24.7 634.5 72.8 561.7 288.6 225.6 47.6 327.8 83.8 244.0 84.3 159.7 217.8

8 614.3 98.0 71.5 26.5 121.3 81.0 27.0 189.3 435.9 1 426.2 865.3 185.6 118.1 560.9 154.8 157.1 591.7 662.4 301.6 57.7 25.5 92.8 14.5 70.2 25.0 458.3 116.7 32.5 271.3 37.7 1 931.0 740.5 319.0 167.7 238.3 15.5 1 190.5 1 082.1 108.3 1 140.8 675.1 136.1 125.7 413.3 183.4 282.4 257.2 25.2 678.4 79.2 599.2 307.6 238.6 53.0 350.1 88.7 261.4 90.7 170.8 229.1

8 869.7 97.9 73.1 24.8 118.7 72.5 27.1 202.3 469.5 1 341.3 778.9 136.9 103.7 562.5 167.1 157.2 607.1 691.6 296.9 50.0 25.6 93.3 15.1 71.4 25.1 476.9 118.7 33.6 283.2 41.5 2 059.2 782.6 360.1 170.2 234.4 18.0 1 276.6 1 169.7 106.9 1 165.9 698.8 145.6 127.1 426.2 177.6 289.4 264.1 25.3 739.3 85.1 654.2 338.1 258.0 58.1 361.5 95.7 265.8 87.5 178.3 241.5

9 154.1 96.9 70.8 26.1 104.9 60.4 27.4 210.7 479.1 1 347.2 771.9 130.5 114.1 575.3 172.5 167.0 624.9 744.3 304.4 50.0 25.8 95.4 15.8 72.5 28.3 470.0 116.1 36.4 272.8 44.7 2 148.2 818.2 413.9 151.2 234.8 18.2 1 330.0 1 227.5 102.5 1 190.0 712.9 149.2 123.1 440.6 178.0 299.1 272.9 26.1 799.0 91.5 707.6 367.8 276.8 63.0 382.3 102.5 279.8 90.4 189.4 252.1

9 604.2 113.9 84.8 29.1 130.3 83.2 27.7 222.2 501.3 1 402.3 798.0 147.6 121.9 604.4 173.3 181.5 645.4 770.5 319.3 56.5 26.6 97.2 16.3 75.5 31.9 493.8 120.9 41.2 283.0 48.6 2 250.3 882.9 440.4 168.1 256.0 18.4 1 367.4 1 260.7 106.7 1 244.3 743.3 160.6 126.6 456.1 191.3 309.7 282.4 27.2 851.2 94.5 756.7 391.1 298.2 67.3 396.4 106.6 289.8 93.2 196.6 263.0

10 276.6 116.6 ... ... 147.5 ... ... 241.2 541.4 1 494.0 862.6 ... ... 631.4 ... ... 688.1 797.6 338.6 ... ... ... ... ... ... 547.2 ... ... ... ... 2 423.7 972.4 ... ... ... ... 1 451.3 ... ... 1 341.4 792.1 ... ... ... 213.6 335.6 ... ... 903.9 99.5 804.4 ... ... ... 419.8 111.8 308.1 ... ... 275.5

Government ....................................................................................................... Federal ........................................................................................................... General government .................................................................................. Government enterprises ............................................................................. State and local ............................................................................................... General government .................................................................................. Government enterprises .............................................................................

1 094.5 352.9 293.1 59.9 741.6 677.2 64.4

1 141.2 361.9 300.9 61.0 779.4 711.8 67.6

1 202.7 378.7 315.4 63.4 823.9 754.2 69.7

1 258.3 385.7 325.7 60.0 872.6 800.8 71.9

1 332.9 415.8 350.4 65.4 917.1 844.3 72.8

1 399.9 447.1 378.4 68.7 952.8 876.9 75.9

1 458.4 465.4 ... ... 993.0 ... ...

Addenda: Private goods-producing industries 2 ............................................................. Private services-producing industries 3 ..........................................................

1 895.4 5 757.1

1 958.9 6 168.3

2 081.5 6 532.8

2 027.5 6 842.2

2 028.1 7 126.0

2 147.8 7 456.3

2 299.5 7 977.0

1Includes industries not shown separately. 2Consists of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. 3Consists of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance,

insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. . . . = Not available.

311

312

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 15-3. Value Added (Gross Domestic Product) by NAICS Industry Group, in Constant Dollars (Billions of chained [2000] dollars.) NAICS industry

1998

1999

2000

2001

2002

2003

2004

Gross domestic product .........................................................................................

9 066.9

9 470.3

9 817.0

9 890.7

10 074.8

10 381.3

10 841.9

Private industries ................................................................................................ Agriculture, forestry, fishing, and hunting ....................................................... Farms ......................................................................................................... Forestry, fishing, and related activities ....................................................... Mining 1 .......................................................................................................... Oil and gas extraction ................................................................................ Mining, except oil and gas .......................................................................... Utilities ............................................................................................................ Construction ................................................................................................... Manufacturing ................................................................................................ Durable goods 1 ......................................................................................... Computer and electronic products ......................................................... Motor vehicles, bodies and trailers, and parts ........................................ Nondurable goods 1 ................................................................................... Food and beverage and tobacco products ............................................. Chemical products ................................................................................. Wholesale trade ............................................................................................. Retail trade ..................................................................................................... Transportation and warehousing 1 ................................................................. Air transportation ........................................................................................ Rail transportation ...................................................................................... Truck transportation ................................................................................... Transit and ground passenger transportation ............................................ Other transportation and support activities ................................................ Warehousing and storage .......................................................................... Information ..................................................................................................... Publishing industries (includes software) ................................................... Motion picture and sound recording industries .......................................... Broadcasting and telecommunications ...................................................... Information and data processing services .................................................. Finance, insurance, real estate, rental, and leasing ....................................... Finance and insurance ............................................................................... Federal Reserve banks, credit intermediation, and related activities ..... Securities, commodity contracts, and investments ................................ Insurance carriers and related activities ................................................. Funds, trusts, and other financial vehicles ............................................. Real estate and rental and leasing ............................................................. Real estate ............................................................................................. Rental and leasing services and lessors of intangible assets ................ Professional and business services ............................................................... Professional, scientific, and technical services .......................................... Legal services ........................................................................................ Computer systems design and related services .................................... Miscellaneous professional, scientific, and technical services ............... Management of companies and enterprises .............................................. Administrative and waste management services ....................................... Administrative and support services ...................................................... Waste management and remediation services ...................................... Educational services, health care, and social assistance .............................. Educational services .................................................................................. Health care and social assistance .............................................................. Ambulatory health care services ............................................................ Hospitals and nursing and residential care facilities .............................. Social assistance ................................................................................... Arts, entertainment, recreation, accommodation, and food services ............. Arts, entertainment, and recreation ............................................................ Accommodation and food services ............................................................ Accommodation ..................................................................................... Food services and drinking places ......................................................... Other services, except government ...............................................................

7 896.0 84.6 61.6 22.9 123.4 90.6 24.5 171.3 423.2 1 286.2 729.9 96.3 111.8 559.6 153.1 149.8 564.7 598.8 275.8 48.7 24.4 91.0 14.3 62.6 22.0 377.0 100.8 29.4 217.3 29.8 1 741.7 634.6 305.8 92.1 228.0 25.7 1 108.6 1 010.1 98.6 1 049.3 585.9 129.7 99.7 356.6 184.0 281.0 258.8 22.3 648.6 75.6 573.0 289.4 236.0 47.7 327.2 84.7 242.5 83.8 158.7 233.4

8 285.5 87.4 62.9 24.5 126.6 91.5 26.7 179.2 433.3 1 342.1 775.5 125.4 114.6 568.2 155.1 157.1 594.1 633.9 287.4 52.9 24.8 91.9 14.7 66.2 23.4 437.5 121.2 32.3 248.3 36.2 1 834.3 678.1 328.4 113.6 224.1 20.4 1 157.0 1 051.4 105.6 1 105.5 623.9 132.6 112.4 379.0 185.6 296.9 272.3 24.6 660.1 77.1 583.0 295.2 237.6 50.2 339.0 87.9 251.2 87.1 164.1 229.7

8 614.3 98.0 71.5 26.5 121.3 81.0 27.0 189.3 435.9 1 426.2 865.3 185.6 118.1 561.0 154.8 157.1 591.7 662.4 301.6 57.7 25.5 92.8 14.5 70.2 25.0 458.3 116.7 32.5 271.3 37.7 1 931.0 740.5 319.0 167.7 238.3 15.5 1 190.5 1 082.1 108.3 1 140.8 675.1 136.1 125.7 413.3 183.4 282.4 257.2 25.2 678.4 79.2 599.2 307.6 238.6 53.0 350.1 88.7 261.4 90.7 170.8 229.1

8 692.5 91.8 65.6 26.3 114.9 77.7 25.8 180.0 436.6 1 346.9 813.6 181.9 104.6 533.1 156.0 153.1 633.1 708.6 293.6 57.0 24.8 87.9 14.5 69.4 24.4 476.8 115.7 31.9 289.1 40.2 2 005.4 772.8 345.9 186.4 228.9 12.6 1 232.6 1 125.7 106.8 1 133.4 679.1 137.7 125.3 416.1 179.9 274.4 250.2 24.2 700.1 79.1 621.0 325.4 239.8 55.9 347.6 91.5 256.2 85.4 170.8 225.3

8 851.6 98.1 69.9 28.3 112.4 77.6 24.7 190.7 425.1 1 378.2 824.3 195.3 120.3 553.0 153.0 163.3 643.0 746.4 299.1 61.1 24.2 87.9 14.7 69.6 27.1 475.5 113.6 33.5 285.7 42.5 2 033.3 793.8 376.2 183.8 221.8 11.6 1 239.7 1 135.9 103.5 1 147.9 681.2 135.8 123.5 421.9 179.8 286.7 261.4 25.3 726.6 79.2 647.6 348.7 241.7 57.9 354.1 94.7 259.4 87.9 171.5 223.4

9 123.0 103.5 72.7 31.1 104.6 65.3 25.1 202.0 424.1 1 440.0 874.5 250.9 131.0 566.2 154.6 174.0 631.0 788.4 314.2 73.8 24.3 88.0 14.5 71.2 30.3 502.4 121.3 35.5 299.2 46.1 2 098.6 856.3 398.7 218.1 229.4 14.1 1 244.1 1 140.7 103.0 1 188.0 701.8 140.8 129.8 431.2 186.5 299.6 272.6 27.0 746.8 77.8 669.3 363.6 246.8 59.9 360.9 95.6 265.2 89.2 176.0 224.5

9 543.5 96.9 ... ... 106.9 ... ... 213.0 433.4 1 501.3 925.7 ... ... 578.4 ... ... 651.6 829.7 324.7 ... ... ... ... ... ... 551.7 ... ... ... ... 2 215.8 923.1 ... ... ... ... 1 295.7 ... ... 1 245.4 730.5 ... ... ... 197.2 317.7 ... ... 766.7 77.3 690.0 ... ... ... 377.2 97.5 279.8 ... ... 240.4

Government ....................................................................................................... Federal ........................................................................................................... General government .................................................................................. Government enterprises ............................................................................. State and local ............................................................................................... General government .................................................................................. Government enterprises .............................................................................

1 165.7 375.5 315.2 60.4 790.1 725.8 64.4

1 178.7 373.0 312.7 60.4 805.7 738.7 67.0

1 202.7 378.7 315.4 63.4 823.9 754.2 69.7

1 212.2 372.5 317.0 55.7 839.7 772.3 67.5

1 230.4 380.6 323.2 57.7 849.7 784.3 65.6

1 247.3 390.3 331.7 58.8 856.9 788.3 68.7

1 262.4 395.6 ... ... 866.6 ... ...

Not allocated by industry 2 .................................................................................

-54.9

-22.9

0.0

-16.3

-13.6

-23.7

...

Addenda: Private goods-producing industries 3 ............................................................. Private services-producing industries 4 ..........................................................

1 912.4 5 983.5

1 985.8 6 299.8

2 081.5 6 532.8

1 991.0 6 701.6

2 013.3 6 837.9

2 069.0 7 053.7

2 132.5 7 410.5

1Includes industries not shown separately. 2The value of not allocated by industry reflects

the difference between the first line and the sum of the most detailed lines, as well as the differences in source data used to estimate GDP by industry and the expenditures measure of real GDP. of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government. . . . = Not available. 3Consists 4Consists

CHAPTER 15: PRODUCT AND INCOME BY INDUSTRY

Table 15-4. Gross Domestic Factor Income by NAICS Industry Group, 1998–2003 (Billions of current dollars.) NAICS industry

1998

1999

2000

2001

2002

2003

Gross domestic factor income ................................................................................ Compensation of employees .............................................................................. Gross operating surplus .....................................................................................

8 142.5 5 023.9 3 118.6

8 638.6 5 362.3 3 276.3

9 152.4 5 787.3 3 365.1

9 454.6 5 947.2 3 507.4

9 762.6 6 074.9 3 687.7

10 252.7 6 294.5 3 958.2

Private industries ................................................................................................ Compensation of employees .......................................................................... Gross operating surplus .................................................................................

7 037.0 4 107.7 2 929.3

7 486.2 4 407.0 3 079.2

7 939.2 4 776.4 3 162.8

8 185.2 4 882.4 3 302.8

8 416.6 4 942.8 3 473.8

8 838.9 5 108.3 3 730.6

Agriculture, forestry, fishing, and hunting ....................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Mining ............................................................................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Utilities ............................................................................................................ Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Construction ................................................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Durable goods manufacturing ........................................................................ Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Nondurable goods manufacturing .................................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Wholesale trade ............................................................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Retail trade ..................................................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Transportation and warehousing .................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Information ..................................................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Finance and insurance ................................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Real estate and rental and leasing ................................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Professional, scientific, and technical services .............................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Management of companies and enterprises .................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Administrative and waste management services ........................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Educational services ...................................................................................... Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Health care and social assistance .................................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Arts, entertainment, and recreation ................................................................ Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Accommodation and food services ................................................................ Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Other services, except government ............................................................... Compensation of employees ...................................................................... Gross operating surplus .............................................................................

107.9 31.2 76.7 63.8 34.6 29.2 152.0 41.2 110.8 370.0 254.3 115.7 794.2 546.2 248.0 512.4 279.1 233.3 416.1 291.0 125.1 474.4 342.3 132.1 259.6 174.9 84.7 349.9 185.6 164.3 613.3 344.5 268.8 904.7 66.2 838.5 555.9 378.3 177.6 153.8 127.5 26.3 247.7 193.9 53.8 66.6 61.2 5.4 527.3 425.9 101.4 69.1 44.5 24.6 201.2 143.7 57.5 197.2 141.5 55.7

106.8 33.0 73.8 74.6 33.4 41.2 155.5 42.6 112.9 401.8 282.8 119.0 807.5 570.4 237.1 527.7 283.8 243.9 446.4 313.9 132.5 502.6 368.2 134.4 272.5 186.1 86.4 405.1 217.5 187.6 650.7 370.7 280.0 972.2 70.7 901.5 603.8 422.0 181.8 167.3 136.1 31.2 273.3 213.1 60.2 71.8 65.9 5.9 554.7 447.1 107.6 75.1 48.4 26.7 214.0 152.8 61.2 203.0 148.5 54.5

112.1 34.6 77.5 108.2 36.0 72.2 158.4 46.3 112.1 430.9 309.2 121.7 851.7 621.2 230.5 533.8 297.6 236.2 456.3 328.6 127.7 522.0 396.6 125.4 285.6 199.3 86.3 421.9 248.0 173.9 710.4 409.3 301.1 1 036.0 77.4 958.6 664.2 486.9 177.3 179.9 147.4 32.5 274.8 211.7 63.1 78.2 72.0 6.2 591.9 478.8 113.1 79.7 53.6 26.1 229.5 164.7 64.8 213.5 157.2 56.3

110.6 36.1 74.5 104.5 38.8 65.7 176.5 48.4 128.1 464.3 327.6 136.7 764.9 584.2 180.7 534.7 292.6 242.1 471.8 334.1 137.7 549.0 410.5 138.5 287.1 203.5 83.6 439.9 244.4 195.5 751.2 437.0 314.2 1 111.4 81.3 1 030.1 687.5 499.6 187.9 174.5 139.9 34.6 281.7 217.0 64.7 83.9 78.1 5.8 646.4 516.2 130.2 86.2 56.9 29.3 233.7 170.6 63.1 225.5 165.6 59.9

100.5 36.2 64.3 92.0 37.7 54.3 175.9 50.8 125.1 473.4 328.8 144.6 757.2 566.3 190.9 545.5 303.0 242.5 487.8 333.7 154.1 598.4 422.0 176.4 287.4 201.1 86.3 432.0 227.3 204.7 784.6 445.8 338.8 1 150.4 83.9 1 066.5 700.9 492.9 208.0 174.9 140.1 34.8 290.9 221.3 69.6 90.2 84.0 6.2 699.3 555.1 144.2 92.7 59.5 33.2 247.1 177.1 70.0 235.4 176.1 59.3

121.4 36.6 84.8 115.8 38.9 76.9 184.6 52.4 132.2 495.0 333.0 162.0 782.6 587.6 195.0 574.2 309.4 264.8 501.9 345.7 156.2 618.9 432.8 186.1 305.0 204.0 101.0 454.9 224.7 230.2 846.7 470.1 376.6 1 178.8 87.3 1 091.5 730.8 501.2 229.6 188.1 144.1 44.0 301.3 228.5 72.8 93.2 89.8 3.4 748.1 590.5 157.6 96.0 62.5 33.5 255.7 184.9 70.8 245.5 184.1 61.4

Government ....................................................................................................... Compensation of employees .......................................................................... Gross operating surplus ................................................................................

1 105.5 916.2 189.3

1 152.3 955.3 197.0

1 213.1 1 010.8 202.3

1 269.3 1 064.8 204.5

1 346.0 1 132.1 213.9

1 413.8 1 186.2 227.6

Addenda: Private goods-producing industries 1 ............................................................. Compensation of employees ...................................................................... Gross operating surplus ............................................................................. Private services-producing industries 2 .......................................................... Compensation of employees ...................................................................... Gross operating surplus .............................................................................

1 848.3 1 145.4 702.9 5 188.7 2 962.3 2 226.4

1 918.3 1 203.4 714.9 5 567.9 3 203.6 2 364.3

2 036.8 1 298.7 738.1 5 902.5 3 477.8 2 424.7

1 979.0 1 279.3 699.7 6 206.2 3 603.1 2 603.1

1 968.5 1 271.9 696.6 6 447.9 3 670.8 2 777.1

2 089.0 1 305.5 783.5 6 749.8 3 802.8 2 947.0

1Consists 2Consists

of agriculture, forestry, fishing, and hunting; mining; construction; and manufacturing. of utilities; wholesale trade; retail trade; transportation and warehousing; information; finance, insurance, real estate, rental, and leasing; professional and business services; educational services, health care, and social assistance; arts, entertainment, recreation, accommodation, and food services; and other services, except government.

313

314

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 15-1 THROUGH 15-4 VALUE ADDED (GROSS DOMESTIC PRODUCT) AND GROSS FACTOR INCOME BY INDUSTRY In the introduction to the notes and definitions in Chapter 1, it was observed that GDP, while primarily measured as the sum of final demands for goods and services, is also the sum of the values created by each industry in the economy. The NIPA industry accounts are designed to measure the contribution of each major industry to GDP. They are only calculated on an annual basis; no quarterly data are available. Industry GDP data from 1987 through 2000, classified by the old Standard Industrial Classification (SIC) and using an unrevised methodology, are reprinted from an earlier edition of Business Statistics and shown in Table 15-1. In June 2004, the Bureau of Economic Analysis (BEA) released a comprehensive revision and updating of these industry accounts for 1998–2003, using improved methods for integrating the industry accounts with the annual input-output accounts and the final-demand GDP calculations and incorporating the new North American Industry Classification System (NAICS). These data have been revised and updated in 2005, adding preliminary data for 2004. Two important measures from these accounts—value added in current dollars and in chained (2000) dollars—are shown in Tables 15-2 and 15-3. See Chapter 14 for the relationship of NAICS to SIC. Additionally, in the new Table 15-4, the editor presents a variation of current-dollar value added, called “gross domestic factor income,” which enables users to obtain a clearer picture of the quantitative impact of each industry on the economy and of the shares of capital and labor in each industry. The 2004 revision incorporated a change in terminology. An industry’s contribution to total GDP, formerly referred to as “gross product originating” (GPO) or “gross product by industry,” is now called “value added.” This is consistent with the use of the term “value added” in most economic writing. However, it should not be confused with a concept known as “Census value added,” which is used in U.S. censuses and surveys of manufactures. Census value added is calculated at the individual establishment level and does not exclude purchased business services. This means that it is not a true measure of economic value added. Definitions and notes on the data An industry’s value added, or GPO, is equal to the market value of its gross output (which consists of the value, including taxes, of sales or receipts and other operating income plus the value of inventory change) minus the value of its intermediate inputs (energy, raw materials,

semifinished goods, and services that are purchased from domestic industries or from foreign sources). In concept, this is also equal to the sum of compensation of employees, taxes on production and imports less subsidies, and gross operating surplus. (See Chapter 1 and its notes and definitions.) Compensation of employees consists of wage and salary accruals and supplements to wages and salaries. This approximates the labor share of production, subject to the note below about proprietors’ income. Taxes on production and imports less subsidies. Although this is shown in the BEA source data as a single, net line item, it represents two separate adjustments. Taxes on production and imports are included in the market value of the goods and services sold to final consumers and therefore in the consumer valuation of those goods. Since they are not part of the payments to the labor and capital inputs in the producing industries, they must be added to the sum of the returns to those inputs in order to account for the total value to consumers. The taxes that fall into this classification include property taxes, sales and excise taxes, and Customs duties. The BEA allocates these taxes to the industry level at which they are assessed by law. Most sales taxes are considered as part of the value added by retail trade. Some sales taxes, most fuel taxes, and all customs duties are attributed to wholesale trade. Residential real property taxes, including those on owner-occupied dwellings, are attributed to the real estate industry. Subsidies to business by government are included in the labor and/or capital payments made by that industry. Since they are payments to the industry in addition to the market values paid by consumers, they are subtracted from the values of the labor and capital inputs to make them consistent with the market values as defined in value added. The role of subsidies is obvious in the data for the agricultural sector, where the net “taxes on production and imports less subsidies” has a negative sign: farm subsidies more than offset this industry’s taxes on production and imports, which consist mainly of only property taxes, since sales, excise, and import taxes are not levied on farms. For private sector businesses, gross operating surplus consists of business income (corporate profits before tax, proprietors’ income, and rental income of persons), net interest and miscellaneous payments, business current transfer payments (net), and capital consumption allowances. For government, households, and institutions, it consists of consumption of fixed capital and (for government) government enterprises’ current surplus. This approximates the capital share of the value of production as measured in the NIPA accounts; however, as BEA notes, “an unknown portion [of proprietors’ income]

CHAPTER 15: PRODUCT AND INCOME BY INDUSTRY

reflects the labor contribution of proprietors.” (Survey of Current Business, June 2004, p. 27, footnote 7.) Value added in constant dollars. The preferred method for measuring real value added by industry is known as “double deflation.” This means constructing constant-dollar measures of the gross output of the industry and subtracting constant-dollar measures of the intermediate inputs to the industry from those values. In the new methodology, this is used for all industries. The results are shown in Table 15-3 in chained (2000) dollars. See the notes and definitions to Chapter 1 for an explanation of chained-dollar methodology. In the older methodology (used for the years 1987 through 2000 in Table 15-1), the double-deflation method is used to calculate real output for most industry groups, and the real output series (also based on chained dollars) are expressed as quantity indexes, 1996 = 100. Gross domestic factor income (not a category published as such in the NIPAs) is calculated by the editor as value added minus “taxes on production and imports less subsidies.” The effect of this procedure is to take out the specified taxes, and to leave in the subsidies embedded in the labor and gross operating surplus components. The editor believes that this provides a valuable alternative basis for assessing the importance of different industries in the economy and the shares of labor and capital in each industry’s output. The reasoning is that more than half of these taxes are sales, excise, and import taxes, and the assignment of these taxes to industries is economically arbitrary. BEA assigns them to the industry with the legal liability to pay, not to the entity bearing the major incidence of the tax. Yet most of the burdens of sales and excise taxes and import duties are not borne by the factors in the indus-

315

try—they are passed on to consumers. In addition, because the wholesale and retail trade industries are classified as “services-producing,” the allocation of those taxes has a very peculiar result: taxes on goods are represented as paid by “service” industries. The process adopted in Table 15-4, which excludes these taxes and focuses on “gross domestic factor income,” has the effect (for example) of keeping the wholesale trade industry from appearing to be both larger and more heavily taxed than it really is.. Data for the most recent year are extrapolated using incomplete data. Data availability and references The estimates for 1998–2003 were published and described in “Improved Annual Industry Accounts for 1998–2003,” Survey of Current Business, June 2004. They were updated in “Annual Industry Accounts for 2001–2003,” Survey of Current Business, January 2005, and advance estimates for 2004 were published in the May 2005 issue. None of these estimates reflect the results of the July 2005 NIPA revisions, as can be seen by comparing the GDP totals for the latest three years shown here with those in Chapter 1. Further background is given in “Preview of the Comprehensive Revision of the Annual Industry Accounts,” Survey of Current Business, March 2004. For the earlier estimates, concepts and methodology were described in “Improved Estimates of Gross Product by Industry for 1947–1998,” Survey of Current Business, June 2000. Data and Survey articles area available on the BEA Web site at .

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

Figure 16-1. Net New Nonfarm Payroll Jobs by Major NAICS Industry Group, 1990-–2004 6 5

Millions of jobs

4 3 2 1 0 -1 -2 -3 -4 Health care and social assistance

Administrative and waste services

Trade, transportation, and utilities

Leisure and hospitality

Information

Financial including real estate

Computer services

All other private services

Construction

Manufacturing, mining, and natural resources

Government

• Between 1990 and 2004, U.S. industries added 22.0 million jobs. With the unemployment rate at 5.6 percent in the earliest year and at 5.5 percent in the latest year, the industry composition of job growth reveals underlying trends rather than cyclical effects. (Figure 16-1, Tables 10-1 and 16-1) • Of the major groups shown in the graph, health care and social assistance was the single greatest source of new jobs. The sector provided 4.9 million net new jobs, of which 1.0 million were in social assistance with the rest in health care. • Administrative and waste services provided 3.3 million net new jobs, of which 1.2 million were in the temporary help sector. • Leisure and hospitality provided 3.2 million net new jobs with 2.3 million at food services and drinking places. • Government provided 3.2 million net jobs—3.0 million at the local government level and 0.7 million at the state government level, partly offset by a loss of half a million jobs in federal government. • Trade, transportation, and utilities added 2.8 million net new jobs, 1.9 million of them in retail trade. • Goods production in manufacturing and natural resource establishments lost 3.5 million jobs. Even the manufacturers of computer and electronic products (including the mass reproduction of software) lost jobs—nearly 0.6 million of them. However, jobs in the computer services industry (systems design, programming, and such) nearly tripled. There was also a gain of nearly half a million jobs in the information sector, which includes software, Internet, and telecommunications-related industries. • There were also substantial net job gains in financial and other service industries and in construction. • The average workweek was around 40 hours for most of the goods-producing industries. In manufacturing, more than 4 hours of the typical workweek were worked at overtime rates. Retail trade and some service industries, especially leisure and hospitality, had much shorter average workweeks—indicating many part-time jobs. (Table 16-3) • Average hourly earnings in 2004 ranged from less than $10 in apparel manufacturing and leisure and hospitality to over $20 in transportation equipment manufacturing, petroleum and coal products, utilities, and information. (Table 16-4)

317

318

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-1. Nonfarm Employment by NAICS Sector and Industry (Wage and salary workers on nonfarm payrolls, thousands.) Industry

1990

Total nonfarm ...................................... 109 487

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

108 374

108 726

110 844

114 291

117 298

119 708

122 776

125 930

128 993

131 785

131 826

130 341

129 999

Total private .........................................

91 072

89 829

89 940

91 855

95 016

97 866

100 169

103 113

106 021

108 686

110 996

110 707

108 828

108 416

Goods–producing ...............................

23 723

22 588

22 095

22 219

22 774

23 156

23 410

23 886

24 354

24 465

24 649

23 873

22 557

21 816

Natural resources and mining ............... Logging ...................................... Mining ................................................ Oil and gas extraction .................... Mining, except oil and gas 1 .......... Coal mining ............................... Support activities for mining ..........

765 84.6 680.1 190.2 302.2 136.0 187.6

739 78.7 660.5 191.0 285.1 125.6 184.5

689 78.7 609.8 182.2 271.8 117.5 155.7

666 81.0 584.9 170.9 250.9 100.2 163.1

659 82.0 576.5 162.4 255.2 103.5 158.8

641 82.5 558.1 151.7 252.4 96.7 154.0

637 80.7 556.4 146.9 249.4 90.5 160.1

654 82.1 571.3 144.1 249.5 89.4 177.7

645 80.0 564.7 140.8 243.1 85.3 180.8

598 80.8 517.4 131.2 234.5 78.6 151.7

599 79.0 520.2 124.9 224.8 72.2 170.6

606 73.5 532.5 123.7 218.7 74.3 190.1

583 70.4 512.2 121.9 210.6 74.4 179.8

572 69.4 502.7 120.2 202.7 70.0 179.8

Construction .......................................... Construction of buildings ................... Heavy and civil engineering .............. Specialty trade contractors ................

5 263 1 413.0 813.0 3 037.3

4 780 1 252.9 759.1 2 768.4

4 608 1 187.3 734.2 2 686.0

4 779 1 227.4 738.4 2 813.6

5 095 1 300.8 761.7 3 032.5

5 274 1 325.4 774.7 3 174.1

5 536 1 380.2 800.1 3 355.1

5 813 1 435.4 824.9 3 552.6

6 149 1 508.8 865.3 3 775.1

6 545 1 586.3 908.7 4 049.6

6 787 1 632.5 937.0 4 217.0

6 826 1 588.9 953.0 4 283.9

6 716 1 574.8 930.6 4 210.4

6 735 1 575.8 903.1 4 255.7

Manufacturing ........................................

17 695

17 068

16 799

16 774

17 021

17 241

17 237

17 419

17 560

17 322

17 263

16 441

15 259

14 510

Durable goods ................................... Wood products .............................. Nonmetallic mineral products ........ Primary metals .............................. Fabricated metal products ............. Machinery ...................................... Computer and electronic products 1 .................................. Computer and peripheral equipment .............................. Communications equipment ...... Semiconductors and electronic components ........................... Electronic instruments ............... Electrical equipment and appliances ................................. Transportation equipment 1 ........... Motor vehicles and parts ........... Furniture and related products ...... Miscellaneous manufacturing ........

10 736 540.6 528.4 688.6 1 610.0 1 407.8

10 219 498.5 494.7 656.1 1 541.3 1 345.8

9 945 501.9 487.3 630.3 1 497.2 1 309.1

9 900 524.1 491.1 618.4 1 509.5 1 328.8

10 131 560.6 505.3 630.4 1 565.3 1 379.2

10 372 573.7 513.1 641.7 1 623.4 1 440.2

10 485 582.8 517.3 639.3 1 647.5 1 466.8

10 704 595.4 525.7 638.8 1 695.8 1 493.7

10 910 609.2 535.3 641.5 1 739.5 1 511.9

10 830 620.3 540.8 625.0 1 728.4 1 466.1

10 876 613.0 554.2 621.8 1 752.6 1 454.7

10 335 574.1 544.5 570.9 1 676.4 1 368.3

9 483 554.9 516.0 509.4 1 548.5 1 229.5

8 963 537.6 494.2 477.4 1 478.9 1 149.4

1 902.5

1 809.3

1 707.3

1 656.0

1 651.1

1 688.4

1 746.6

1 803.3

1 830.9

1 780.5

1 820.0

1 748.8

1 507.2

1 355.2

367.4 231.5

348.6 220.6

328.5 209.7

305.7 210.3

297.7 218.0

295.6 232.8

304.6 237.6

316.7 243.9

322.1 246.4

310.1 237.4

301.9 247.7

286.2 233.9

250.0 185.8

224.0 154.9

574.0 626.3

546.6 590.0

519.4 548.5

519.4 517.6

535.4 493.4

571.0 482.0

606.6 489.1

639.8 493.9

649.8 500.2

630.5 489.6

676.3 478.6

645.4 475.1

524.5 450.0

461.1 429.7

633.1 2 133.3 1 054.2 601.4 690.4

597.7 2 028.2 1 017.6 561.0 686.6

579.4 1 976.9 1 047.0 562.8 692.5

575.8 1 913.7 1 077.8 575.4 707.4

588.5 1 936.1 1 168.5 600.2 713.8

592.8 1 977.2 1 241.5 606.7 714.5

591.0 1 973.7 1 240.3 603.8 715.6

586.3 2 026.2 1 253.9 615.1 723.1

591.6 2 077.0 1 271.5 641.2 731.7

588.0 2 087.3 1 312.5 664.8 729.0

590.9 2 055.8 1 313.6 679.7 733.0

556.9 1 937.9 1 212.9 642.4 714.5

496.5 1 828.9 1 151.2 604.1 688.3

459.6 1 774.1 1 125.3 572.9 663.3

Nondurable goods ............................. Food manufacturing ...................... Beverages and tobacco products .. Textile mills .................................... Textile product mills ....................... Apparel .......................................... Leather and allied products ........... Paper and paper products ............. Printing and related support activities ..................................... Petroleum and coal products ......... Chemicals ...................................... Plastics and rubber products .........

6 959 1 507.3 217.7 491.8 209.3 929.1 133.2 647.2

6 849 1 515.2 214.7 479.9 199.4 902.6 124.4 638.5

6 854 1 518.3 208.5 479.0 202.0 905.2 120.8 639.6

6 873 1 534.6 207.1 478.7 207.3 882.5 118.1 639.7

6 890 1 539.2 204.6 477.6 218.6 856.3 113.9 639.4

6 869 1 560.0 202.6 468.5 219.0 814.1 104.9 639.5

6 752 1 562.0 204.4 443.2 216.3 743.1 94.2 631.4

6 716 1 557.9 206.3 436.2 217.0 700.2 89.5 630.6

6 650 1 554.9 208.9 424.5 217.1 639.0 82.9 624.9

6 492 1 549.8 208.3 397.1 217.3 555.6 74.9 615.6

6 388 1 553.1 207.0 378.2 216.3 496.8 68.8 604.7

6 107 1 551.2 209.0 332.9 205.7 426.5 58.0 577.6

5 775 1 525.7 207.4 290.9 194.6 359.7 50.2 546.6

5 547 1 517.5 199.6 261.3 179.3 312.3 44.5 516.2

808.6 152.8 1 035.7 825.9

792.3 154.8 1 024.1 803.2

780.2 152.3 1 028.9 819.0

785.2 146.2 1 024.9 849.0

802.2 144.0 1 004.7 889.4

817.3 140.4 987.9 915.1

815.8 137.3 984.5 920.1

821.1 136.0 986.8 934.1

827.9 134.5 992.6 942.8

814.6 127.8 982.5 948.3

806.8 123.2 980.4 952.2

768.4 121.1 959.0 897.4

706.6 118.1 927.5 848.0

680.5 114.3 906.1 815.4

Service–providing ...............................

85 764

85 787

86 631

88 625

91 517

94 142

96 299

98 890

101 576

104 528

107 136

107 952

107 784

108 182

Private service–providing ...................

67 349

67 241

67 845

69 636

72 242

74 710

76 759

79 227

81 667

84 221

86 346

86 834

86 271

86 599

Trade, transportation, and utilities .........

22 666

22 281

22 125

22 378

23 128

23 834

24 239

24 700

25 186

25 771

26 225

25 983

25 497

25 287

Wholesale trade ................................ Durable goods ............................... Nondurable goods ......................... Electronic markets, agents, and brokers ......................................

5 268.4 2 833.7 1 900.2

5 185.3 2 766.6 1 891.3

5 109.7 2 698.8 1 891.5

5 093.2 2 687.0 1 888.3

5 247.3 2 786.0 1 927.0

5 433.1 2 908.8 1 969.3

5 522.0 2 977.8 1 977.5

5 663.9 3 071.9 2 007.9

5 795.2 3 162.4 2 032.7

5 892.5 3 219.6 2 061.1

5 933.2 3 250.7 2 064.8

5 772.7 3 130.4 2 031.3

5 652.3 3 007.9 2 015.0

5 607.5 2 940.6 2 004.6

534.5

527.4

519.4

517.9

534.4

555.0

566.7

584.1

600.1

611.8

617.7

611.1

629.4

662.2

1Includes

other industries, not shown separately.

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

319

Table 16-1. Nonfarm Employment by NAICS Sector and Industry—Continued (Wage and salary workers on nonfarm payrolls, thousands.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November December

Total nonfarm ......................................

131 480

130 372

130 466

130 786

131 123

131 373

131 479

131 562

131 750

131 880

132 162

132 294

132 449

Total private .........................................

109 862

108 839

108 915

109 204

109 516

109 787

109 908

109 976

110 105

110 203

110 462

110 588

110 749

Goods–producing ...............................

21 884

21 703

21 699

21 773

21 825

21 888

21 890

21 902

21 946

21 947

21 982

21 996

22 022

Natural resources and mining ............... Logging ...................................... Mining ................................................ Oil and gas extraction .................... Mining, except oil and gas 1 .......... Coal mining ............................... Support activities for mining ..........

591 67.8 523.2 123.1 207.1 71.7 193.1

575 67.4 507.3 120.0 200.9 68.7 186.4

577 66.8 509.7 121.0 201.1 69.1 187.6

585 69.0 515.7 121.4 202.9 69.4 191.4

589 69.8 519.2 122.5 204.8 70.4 191.9

592 68.9 523.3 123.7 207.1 71.3 192.5

591 67.6 523.8 123.2 208.1 72.0 192.5

596 67.4 528.9 123.2 211.8 73.5 193.9

595 67.5 527.8 123.8 209.1 73.1 194.9

597 68.0 528.5 124.0 208.5 72.9 196.0

595 67.0 527.7 123.6 208.4 72.7 195.7

599 66.9 532.5 124.4 210.7 73.7 197.4

602 67.9 534.4 124.1 211.3 73.9 199.0

Construction .......................................... Construction of buildings ................... Heavy and civil engineering .............. Specialty trade contractors ................

6 964 1 632.2 902.5 4 429.7

6 845 1 595.4 903.2 4 346.6

6 841 1 593.8 893.0 4 354.2

6 897 1 608.5 903.1 4 385.1

6 913 1 608.7 903.2 4 401.5

6 949 1 623.1 903.0 4 423.3

6 955 1 626.7 899.8 4 428.6

6 965 1 632.2 899.7 4 433.1

6 985 1 636.3 901.1 4 447.6

6 998 1 647.8 902.1 4 447.8

7 043 1 663.0 904.1 4 476.1

7 060 1 668.3 906.4 4 484.8

7 086 1 678.9 907.8 4 499.2

Manufacturing ........................................

14 329

14 283

14 281

14 291

14 323

14 347

14 344

14 341

14 366

14 352

14 344

14 337

14 334

Durable goods ................................... Wood products .............................. Nonmetallic mineral products ........ Primary metals .............................. Fabricated metal products ............. Machinery ...................................... Computer and electronic products 1 .................................. Computer and peripheral equipment .............................. Communications equipment ...... Semiconductors and electronic components ........................... Electronic instruments ............... Electrical equipment and appliances ................................. Transportation equipment 1 ........... Motor vehicles and parts ........... Furniture and related products ...... Miscellaneous manufacturing ........

8 923 548.4 504.8 465.9 1 497.5 1 141.5

8 855 540.2 499.9 464.4 1 474.1 1 128.4

8 864 543.1 495.7 464.7 1 478.6 1 129.4

8 873 544.0 497.1 464.2 1 479.4 1 132.6

8 902 544.9 501.6 464.8 1 488.6 1 139.0

8 925 547.9 506.3 466.1 1 496.5 1 140.0

8 931 549.0 507.4 467.4 1 498.3 1 142.7

8 926 550.0 507.9 468.4 1 502.6 1 146.8

8 965 551.7 507.6 467.4 1 506.8 1 151.5

8 957 550.1 508.8 466.4 1 508.5 1 148.7

8 960 554.5 509.1 466.0 1 511.5 1 147.3

8 954 553.3 507.9 465.8 1 510.9 1 147.4

8 957 555.2 506.5 465.2 1 512.8 1 146.0

1 326.2

1 318.6

1 317.8

1 319.5

1 322.6

1 327.1

1 327.4

1 332.8

1 334.0

1 332.5

1 329.8

1 327.1

1 325.8

212.1 150.5

214.8 149.3

214.0 148.9

213.3 148.7

213.1 148.5

213.7 148.9

212.2 150.1

211.4 151.3

212.4 151.6

211.9 151.0

209.7 150.7

209.3 152.7

210.4 153.7

452.8 431.8

448.4 425.3

449.4 424.9

449.7 427.8

451.2 429.1

453.3 431.1

455.2 431.2

457.9 433.9

457.4 434.2

457.0 434.6

454.9 437.0

451.9 435.6

448.0 435.7

446.8 1 763.5 1 109.1 572.7 655.5

448.7 1 757.2 1 111.9 569.7 653.5

448.0 1 761.9 1 116.2 569.7 654.8

445.3 1 764.4 1 116.0 572.2 654.5

445.8 1 765.1 1 115.0 574.1 655.6

446.1 1 763.6 1 113.4 574.5 656.4

446.8 1 762.2 1 107.0 573.6 656.4

447.3 1 739.1 1 086.6 574.0 656.8

447.7 1 769.5 1 112.5 573.3 655.2

447.0 1 768.5 1 109.9 572.1 654.5

445.1 1 771.0 1 111.8 571.3 654.1

447.4 1 767.2 1 104.1 572.2 654.7

445.8 1 771.9 1 104.0 571.7 656.4

Nondurable goods ............................. Food manufacturing ...................... Beverages and tobacco products .. Textile mills .................................... Textile product mills ....................... Apparel .......................................... Leather and allied products ........... Paper and paper products ............. Printing and related support activities ..................................... Petroleum and coal products ......... Chemicals ...................................... Plastics and rubber products .........

5 406 1 497.4 194.3 238.5 177.7 284.8 42.9 499.1

5 428 1 498.3 195.5 242.0 174.9 295.3 42.6 502.3

5 417 1 499.4 193.1 240.3 175.1 295.2 42.7 499.4

5 418 1 498.8 194.4 240.7 177.2 293.1 42.7 499.7

5 421 1 500.5 194.3 239.7 179.1 291.8 42.6 499.0

5 422 1 501.8 194.0 239.7 180.2 289.1 42.8 498.9

5 413 1 498.6 194.4 239.3 178.5 285.9 42.6 496.7

5 415 1 504.6 194.2 238.8 178.2 283.2 42.5 499.2

5 401 1 497.0 193.4 238.1 177.6 282.6 42.5 500.6

5 395 1 494.3 194.9 237.3 177.8 281.0 42.7 499.3

5 384 1 493.5 192.9 236.5 178.1 276.1 42.8 499.4

5 383 1 493.6 195.1 235.0 178.4 273.4 43.4 498.1

5 377 1 498.8 193.0 233.2 178.0 271.9 43.1 497.9

665.0 112.8 887.0 806.6

669.9 113.9 889.0 803.9

667.6 111.9 889.3 802.8

665.6 112.0 889.2 804.4

665.7 111.4 890.8 805.9

667.2 112.3 889.0 807.3

668.3 112.9 888.8 807.1

665.2 112.8 887.7 808.9

663.9 113.2 885.8 806.6

661.6 113.2 885.5 807.1

661.0 113.3 884.5 806.3

661.3 113.6 882.4 808.6

660.8 113.8 880.5 806.2

Service–providing ...............................

109 596

108 669

108 767

109 013

109 298

109 485

109 589

109 660

109 804

109 933

110 180

110 298

110 427

Private service–providing ...................

87 978

87 136

87 216

87 431

87 691

87 899

88 018

88 074

88 159

88 256

88 480

88 592

88 727

Trade, transportation, and utilities .........

25 510

25 348

25 367

25 441

25 481

25 511

25 536

25 536

25 537

25 555

25 581

25 621

25 620

Wholesale trade ................................ Durable goods ............................... Nondurable goods ......................... Electronic markets, agents, and brokers ......................................

5 654.9 2 949.1 2 007.1

5 617.5 2 933.7 2 000.0

5 616.5 2 928.5 2 001.4

5 629.0 2 936.5 2 002.8

5 648.2 2 941.3 2 009.1

5 651.4 2 942.9 2 010.6

5 653.4 2 948.4 2 006.6

5 660.2 2 955.3 2 004.0

5 662.9 2 957.8 2 004.0

5 672.4 2 960.2 2 008.1

5 674.7 2 962.3 2 009.1

5 680.0 2 960.4 2 012.6

5 683.6 2 964.5 2 009.9

698.8

683.8

686.6

689.7

697.8

697.9

698.4

700.9

701.1

704.1

703.3

707.0

709.2

1Includes

other industries, not shown separately.

320

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-1. Nonfarm Employment by NAICS Sector and Industry—Continued (Wage and salary workers on nonfarm payrolls, thousands.) Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Retail trade ........................................ 13 182.3 12 896.4 12 827.9 13 020.5 13 490.8 13 896.7 14 142.5 14 388.9 14 609.3 14 970.1 15 279.8 15 238.6 15 025.1 14 917.3 Motor vehicle and parts dealers 1 .. 1 494.4 1 435.1 1 428.1 1 475.3 1 564.7 1 627.1 1 685.6 1 723.4 1 740.9 1 796.6 1 846.9 1 854.6 1 879.4 1 882.9 Automobile dealers .................... 983.3 938.3 934.8 970.4 1 031.8 1 071.6 1 113.0 1 134.5 1 142.0 1 179.7 1 216.5 1 225.1 1 252.8 1 254.4 Furniture and home furnishings stores ......................................... 431.5 412.8 410.3 418.6 441.6 461.2 474.2 484.7 499.1 524.4 543.5 541.2 538.7 547.3 Electronics and appliance stores ... 382.3 381.1 378.1 386.9 417.0 448.7 470.2 494.0 510.2 542.2 564.4 554.5 525.3 512.2 Building material and garden supply stores ............................. 890.9 863.0 872.1 891.9 946.2 981.8 1 007.2 1 043.1 1 062.3 1 101.0 1 142.1 1 151.8 1 176.5 1 185.0 Food and beverage stores ............ 2 778.8 2 767.9 2 743.9 2 774.8 2 825.0 2 879.8 2 927.8 2 956.9 2 965.7 2 984.5 2 993.0 2 950.5 2 881.6 2 838.4 Health and personal care stores ... 792.0 788.5 780.2 778.6 797.0 811.9 826.4 853.3 876.0 898.2 927.6 951.5 938.8 938.1 Gasoline stations ........................... 910.2 889.3 876.4 881.2 902.3 922.3 946.4 956.2 961.3 943.5 935.7 925.3 895.9 882.0 Clothing and clothing accessories stores ......................................... 1 313.0 1 275.8 1 249.1 1 259.9 1 261.7 1 246.3 1 220.6 1 235.9 1 268.6 1 306.6 1 321.6 1 321.1 1 312.5 1 304.5 Sporting goods, hobby, book, and music stores .............................. 532.0 527.7 534.4 545.2 577.6 605.8 614.0 626.2 635.4 664.3 685.7 679.2 661.3 646.5 General merchandise stores 1 ....... 2 499.8 2 416.7 2 414.2 2 450.2 2 541.0 2 635.4 2 657.3 2 657.6 2 686.5 2 751.8 2 819.8 2 842.2 2 812.0 2 822.4 Department stores ..................... 1 493.9 1 440.8 1 445.2 1 486.8 1 560.4 1 629.8 1 645.0 1 653.5 1 679.2 1 709.2 1 755.0 1 768.3 1 684.0 1 620.6 Miscellaneous store retailers ......... 738.2 734.7 736.8 752.9 795.7 841.1 874.3 913.2 950.3 985.5 1 007.1 993.3 959.5 930.7 Nonstore retailers .......................... 419.2 403.7 404.5 404.9 421.2 435.4 438.5 444.5 453.0 471.6 492.4 473.5 443.7 427.3 Transportation and warehousing ....... Air transportation ........................... Rail transportation ......................... Water transportation ...................... Truck transportation ...................... Transit and ground passenger transportation ............................ Pipeline transportation ................... Scenic and sightseeing transportation ............................ Support activities for transportation ............................ Couriers and messengers ............. Warehousing and storage .............

3 475.6 529.2 271.8 56.8 1 122.4

3 462.8 525.4 255.6 57.4 1 104.6

3 461.8 519.6 248.1 56.7 1 107.4

3 553.8 516.6 242.2 52.8 1 154.8

3 701.0 511.2 234.6 52.3 1 206.2

3 837.8 510.9 232.5 50.8 1 249.1

3 935.3 525.7 225.2 51.0 1 282.4

4 026.5 542.0 221.0 50.7 1 308.2

4 168.0 562.7 225.0 50.5 1 354.4

4 300.3 586.3 228.8 51.7 1 391.5

4 410.3 614.4 231.7 56.0 1 405.8

4 372.0 615.3 226.7 54.0 1 386.8

4 223.6 563.5 217.8 52.6 1 339.3

4 185.4 528.3 217.7 54.5 1 325.6

274.2 59.8

283.9 60.7

287.9 60.1

299.9 58.7

316.6 57.0

327.9 53.6

339.1 51.4

349.6 49.7

362.7 48.1

371.0 46.9

372.1 46.0

374.8 45.4

380.8 41.7

382.2 40.2

15.7

16.5

17.7

19.3

21.3

22.0

23.2

24.5

25.4

26.1

27.5

29.1

25.6

26.6

364.1 375.0 406.6

376.6 378.9 403.2

369.9 388.8 405.6

381.8 414.3 413.4

404.7 466.2 431.0

430.4 516.8 443.8

445.8 539.9 451.8

473.4 546.0 461.5

496.8 568.2 474.2

518.1 585.9 494.1

537.4 605.0 514.4

539.2 587.0 513.8

524.7 560.9 516.7

520.3 561.7 528.3

Utilities ...............................................

740.0

736.1

726.0

710.7

689.3

666.2

639.6

620.9

613.4

608.5

601.3

599.4

596.2

577.0

Information ............................................ Publishing industries, except Internet .......................................... Motion picture and sound recording industries ....................................... Broadcasting, except Internet ............ Internet publishing and broadcasting .................................. Telecommunications ......................... ISPs, search portals, and data processing ..................................... Other information services ................ Financial activities ................................. Finance and insurance ...................... Monetary authorities–central bank ........................................... Credit intermediation and related activities 1 .................................. Depository credit intermediation 1 ..................... Commercial banking .............. Securities, commodity contracts, investments ............................... Insurance carriers and related activities ..................................... Funds, trusts, and other financial vehicles .................................... Real estate and rental and leasing .... Real estate .................................... Rental and leasing services .......... Lessors of nonfinancial intangible assets ........................................ 1Includes

2 688

2 677

2 641

2 668

2 738

2 843

2 940

3 084

3 218

3 419

3 631

3 629

3 395

3 188

870.6

863.4

854.2

873.1

891.0

910.7

927.2

955.5

982.3

1 004.8

1 035.0

1 020.7

964.1

924.8

254.6 283.8

258.9 281.2

254.3 279.7

259.6 284.0

278.4 290.1

311.1 298.1

334.7 309.1

353.0 313.0

369.5 321.2

384.4 329.4

382.6 343.5

376.8 344.6

387.9 334.1

376.2 324.3

16.7 980.3

16.2 973.1

16.1 946.0

16.4 942.2

16.9 961.1

18.6 975.7

21.0 997.0

23.5 1 059.5

27.1 1 107.8

37.1 1 179.7

50.5 1 262.6

45.5 1 302.1

33.7 1 186.5

29.2 1 082.3

252.2 29.9

251.7 32.9

258.5 32.3

263.1 29.4

268.0 32.8

291.2 38.2

311.6 39.4

338.8 40.1

369.1 41.4

439.3 43.8

510.1 46.2

493.6 46.1

441.0 47.3

402.4 48.7

6 614 4 978.6

6 558 4 937.3

6 540 4 914.7

6 709 5 035.5

6 867 5 135.2

6 827 5 071.7

6 969 5 154.2

7 178 5 305.1

7 462 5 532.0

7 648 5 668.4

7 687 5 680.4

7 807 5 773.1

7 847 5 817.3

7 977 5 922.6

24.0

24.2

23.7

23.4

23.4

23.0

22.8

22.1

21.7

22.6

22.8

23.0

23.4

22.6

2 424.8

2 352.4

2 317.3

2 360.7

2 375.7

2 314.4

2 368.2

2 433.6

2 531.9

2 591.0

2 547.8

2 597.7

2 686.0

2 792.4

1 908.5 1 361.8

1 830.7 1 333.7

1 769.0 1 302.8

1 760.5 1 308.7

1 736.7 1 297.4

1 700.2 1 281.7

1 691.4 1 275.1

1 696.6 1 277.9

1 708.9 1 286.0

1 709.7 1 281.2

1 681.2 1 250.5

1 701.2 1 258.4

1 733.0 1 278.1

1 748.5 1 280.1

457.9

455.0

475.7

507.9

553.4

562.2

589.6

636.1

692.2

737.3

804.5

830.5

789.4

757.7

2 016.1

2 048.2

2 039.5

2 082.5

2 118.8

2 108.2

2 108.0

2 143.6

2 209.4

2 236.1

2 220.6

2 233.7

2 233.2

2 266.0

55.7 1 634.9 1 106.8 514.2

57.5 1 620.8 1 107.6 499.4

58.5 1 625.5 1 114.5 496.4

61.0 1 673.8 1 146.1 511.0

63.9 1 731.5 1 183.2 529.9

63.9 1 755.4 1 178.9 557.4

65.6 1 814.3 1 205.8 587.7

69.8 1 872.8 1 240.7 609.5

76.9 1 930.3 1 274.2 630.8

81.5 1 979.0 1 299.0 653.1

84.8 2 006.8 1 312.2 666.8

88.3 2 034.5 1 339.5 666.3

85.4 2 029.6 1 352.9 649.1

83.9 2 053.9 1 383.6 643.1

13.9

13.9

14.6

16.7

18.4

19.0

20.8

22.6

25.3

26.8

27.8

28.7

27.6

27.3

other industries, not shown separately.

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

321

Table 16-1. Nonfarm Employment by NAICS Sector and Industry—Continued (Wage and salary workers on nonfarm payrolls, thousands.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November December

Retail trade ........................................ Motor vehicle and parts dealers 1 .. Automobile dealers .................... Furniture and home furnishings stores ......................................... Electronics and appliance stores ... Building material and garden supply stores ............................. Food and beverage stores ............ Health and personal care stores ... Gasoline stations ........................... Clothing and clothing accessories stores ......................................... Sporting goods, hobby, book, and music stores .............................. General merchandise stores 1 ....... Department stores ..................... Miscellaneous store retailers ......... Nonstore retailers ..........................

15 034.7 1 901.2 1 254.2

14 961.5 1 894.5 1 258.7

14 977.0 1 898.4 1 259.9

15 021.3 1 903.6 1 261.5

15 038.0 1 906.6 1 260.3

15 052.3 1 906.9 1 258.5

15 060.5 1 904.1 1 257.1

15 048.2 1 904.4 1 254.1

15 043.3 1 899.8 1 251.2

15 037.7 1 898.4 1 247.3

15 056.5 1 896.4 1 245.0

15 081.4 1 901.2 1 247.6

15 077.0 1 905.9 1 249.1

560.2 514.4

557.9 509.7

557.4 508.4

558.3 512.0

558.1 514.9

558.7 514.3

559.1 514.1

559.8 513.4

561.6 512.0

561.9 513.6

562.3 520.2

565.6 520.3

563.7 516.5

1 226.0 2 826.3 941.7 877.1

1 206.0 2 818.4 941.0 880.6

1 209.5 2 826.2 940.3 878.5

1 219.4 2 829.9 942.1 879.5

1 224.7 2 830.8 941.6 879.3

1 227.9 2 835.8 941.2 879.1

1 223.8 2 832.6 941.3 877.5

1 224.7 2 828.5 941.0 876.6

1 228.1 2 826.2 941.0 876.5

1 232.5 2 827.1 942.1 878.0

1 236.3 2 830.2 941.6 877.0

1 240.4 2 822.7 944.5 873.7

1 243.5 2 819.8 946.6 871.3

1 361.8

1 326.3

1 336.3

1 347.7

1 352.1

1 357.5

1 367.6

1 369.5

1 374.4

1 371.9

1 376.0

1 377.9

1 381.3

639.2 2 843.5 1 612.5 918.6 424.8

641.7 2 840.8 1 610.1 920.2 424.4

641.8 2 840.6 1 607.7 915.1 424.5

641.3 2 845.1 1 611.1 917.1 425.3

639.8 2 847.7 1 613.6 916.8 425.6

639.7 2 848.4 1 614.2 917.0 425.8

639.4 2 856.4 1 618.0 919.2 425.4

638.9 2 848.0 1 616.1 918.8 424.6

639.0 2 842.5 1 611.4 918.9 423.3

638.7 2 832.9 1 603.3 917.0 423.6

638.0 2 835.2 1 604.2 920.5 422.8

639.0 2 854.9 1 619.1 917.4 423.8

635.8 2 852.9 1 619.3 918.2 421.5

Transportation and warehousing ....... Air transportation ........................... Rail transportation ......................... Water transportation ...................... Truck transportation ...................... Transit and ground passenger transportation ............................ Pipeline transportation ................... Scenic and sightseeing transportation ............................ Support activities for transportation ............................ Couriers and messengers ............. Warehousing and storage .............

4 250.0 514.8 224.1 57.2 1 350.7

4 198.2 513.0 221.6 56.5 1 339.1

4 204.1 514.1 222.5 54.6 1 337.9

4 221.5 515.9 223.4 55.6 1 339.2

4 223.5 516.0 223.5 57.2 1 343.8

4 236.3 516.7 223.7 57.3 1 346.3

4 250.9 517.0 224.7 58.2 1 352.2

4 257.0 516.3 225.0 58.1 1 352.5

4 260.4 515.0 224.6 56.7 1 352.5

4 274.1 513.8 225.5 57.2 1 358.5

4 279.6 514.2 225.4 57.7 1 356.0

4 289.6 514.6 224.6 57.8 1 358.9

4 288.0 512.3 224.0 58.6 1 366.5

385.5 38.8

385.0 38.8

383.9 38.6

383.5 38.5

377.4 38.6

386.3 38.8

381.6 38.9

383.2 39.0

386.2 38.9

388.3 39.0

389.3 38.9

389.4 39.0

391.0 38.7

26.7

23.8

26.0

26.6

26.8

27.0

27.4

26.3

27.7

27.8

25.6

26.1

26.6

535.6 560.5 556.0

524.6 552.7 543.1

526.9 555.4 544.2

531.4 557.3 550.1

532.0 556.2 552.0

532.6 557.0 550.6

534.3 562.1 554.5

535.5 563.1 558.0

536.9 562.6 559.3

537.7 563.8 562.5

539.9 564.4 568.2

544.6 568.7 565.9

547.0 556.4 566.9

Utilities ...............................................

570.2

570.3

569.1

569.0

571.0

571.1

570.8

570.9

570.1

571.1

570.3

570.2

571.3

Information ............................................ Publishing industries, except Internet .......................................... Motion picture and sound recording industries ....................................... Broadcasting, except Internet ............ Internet publishing and broadcasting .................................. Telecommunications ......................... ISPs, search portals, and data processing ..................................... Other information services ................

3 138

3 139

3 143

3 136

3 142

3 146

3 151

3 144

3 135

3 127

3 131

3 133

3 127

909.8

910.9

910.2

910.4

911.0

911.1

911.9

909.6

909.3

909.2

908.1

908.9

905.7

389.0 326.6

380.7 322.4

385.0 323.7

380.4 324.2

386.7 324.4

392.3 326.3

395.5 326.5

394.4 327.2

389.3 327.8

389.7 328.1

395.3 329.5

390.6 329.4

384.8 329.7

31.3 1 042.5

28.6 1 060.9

29.8 1 057.7

29.2 1 054.7

30.0 1 050.9

30.6 1 046.6

31.5 1 044.0

31.4 1 041.9

31.7 1 037.1

32.0 1 028.4

33.0 1 024.8

33.6 1 030.0

34.0 1 031.5

388.1 50.9

386.0 49.6

386.8 49.8

386.9 50.4

387.2 51.3

388.2 51.3

389.9 51.6

388.6 51.3

387.6 51.7

387.6 51.5

389.2 50.9

389.5 50.7

390.4 50.7

8 052 5 965.6

7 989 5 922.7

7 997 5 929.8

8 005 5 936.9

8 021 5 948.4

8 037 5 956.0

8 051 5 965.6

8 043 5 958.6

8 058 5 970.2

8 083 5 982.1

8 093 5 994.1

8 107 6 001.3

8 128 6 014.5

21.6

22.3

22.2

22.1

22.1

21.6

21.6

21.5

21.6

21.5

21.3

20.9

20.6

2 832.3

2 803.2

2 806.8

2 814.0

2 823.3

2 826.3

2 833.7

2 829.2

2 833.4

2 841.0

2 847.9

2 859.2

2 871.9

1 761.2 1 285.3

1 749.5 1 277.9

1 752.2 1 280.2

1 751.6 1 280.6

1 756.5 1 284.4

1 758.2 1 284.6

1 762.1 1 286.3

1 760.6 1 283.9

1 763.0 1 283.5

1 765.1 1 286.4

1 768.1 1 288.3

1 773.3 1 293.1

1 778.8 1 296.8

766.8

754.9

757.9

758.5

759.2

761.9

765.1

766.3

769.9

772.3

777.3

776.9

779.7

2 260.3

2 256.8

2 256.9

2 256.2

2 258.2

2 261.6

2 260.9

2 257.0

2 261.0

2 263.3

2 264.1

2 260.4

2 258.1

84.7 2 086.2 1 417.0 643.9

85.5 2 066.1 1 397.0 642.3

86.0 2 066.7 1 398.2 641.8

86.1 2 068.1 1 400.6 641.4

85.6 2 072.2 1 406.2 640.6

84.6 2 081.1 1 413.8 642.0

84.3 2 085.7 1 415.7 645.0

84.6 2 084.6 1 416.7 643.0

84.3 2 088.2 1 420.0 643.3

84.0 2 101.3 1 429.1 647.6

83.5 2 099.2 1 428.6 646.3

83.9 2 105.5 1 434.7 646.0

84.2 2 113.6 1 437.8 650.9

25.4

26.8

26.7

26.1

25.4

25.3

25.0

24.9

24.9

24.6

24.3

24.8

24.9

Financial activities ................................. Finance and insurance ...................... Monetary authorities–central bank ........................................... Credit intermediation and related activities 1 .................................. Depository credit intermediation 1 ..................... Commercial banking .............. Securities, commodity contracts, investments ............................... Insurance carriers and related activities ..................................... Funds, trusts, and other financial vehicles .................................... Real estate and rental and leasing .... Real estate .................................... Rental and leasing services .......... Lessors of nonfinancial intangible assets ........................................ 1Includes

other industries, not shown separately.

322

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-1. Nonfarm Employment by NAICS Sector and Industry—Continued (Wage and salary workers on nonfarm payrolls, thousands.) Industry

Professional and business services ...... Professional and technical services 1 ....................................... Legal services ............................... Accounting and bookkeeping services ..................................... Architectural and engineering services ..................................... Computer systems design and related services ......................... Management and technical consulting services .................... Management of companies and enterprises ..................................... Administrative and waste services .... Administrative and support services 1 ................................... Employment services 1 .............. Temporary help services ....... Business support services ......... Services to buildings and dwellings ................................ Waste management and remediation services ................. Education and health services .............. Educational services ......................... Health care and social assistance ..... Health care .................................... Ambulatory health care services 1 ............................... Offices of physicians ............. Outpatient care centers ......... Home health care services .... Hospitals .................................... Nursing and residential care facilities 1 ............................... Nursing care facilities ............ Social assistance 1 ........................ Child day care services .............

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

10 848

10 714

10 970

11 495

12 174

12 844

13 462

14 335

15 147

15 957

16 666

16 476

15 976

15 987

4 556.7 943.6

4 526.5 946.0

4 593.5 949.8

4 708.2 963.9

4 843.6 965.6

5 101.3 959.2

5 337.1 968.4

5 655.5 987.5

6 021.0 1 021.1

6 375.4 1 051.4

6 733.9 1 065.7

6 902.2 1 091.3

6 675.6 1 115.3

6 629.5 1 142.1

664.1

655.4

657.8

654.2

670.1

706.3

729.8

761.2

802.0

837.6

866.4

872.2

837.3

815.3

941.5

906.2

901.8

922.7

952.0

997.1

1 024.5

1 063.4

1 114.8

1 168.1

1 237.9

1 274.7

1 246.1

1 226.9

409.7

419.9

444.9

484.8

531.4

611.2

701.4

826.7

974.9

1 132.9

1 254.3

1 297.8

1 152.8

1 116.6

323.6

331.6

358.1

385.4

416.8

474.8

517.1

568.4

619.2

649.0

704.9

746.2

734.4

744.9

1 667.4 4 624.3

1 638.1 4 549.3

1 623.4 4 752.6

1 640.1 5 146.5

1 665.9 5 664.1

1 685.8 6 056.8

1 702.7 6 422.1

1 729.7 6 949.9

1 756.1 7 369.3

1 773.8 7 807.4

1 796.0 8 136.0

1 779.0 7 794.9

1 705.4 7 595.2

1 687.2 7 669.8

4 394.9 1 493.7 1 155.8 504.6

4 317.0 1 448.7 1 123.3 503.3

4 515.9 1 592.5 1 212.5 524.5

4 897.8 1 865.1 1 388.8 549.0

5 403.4 2 226.5 1 632.2 574.4

5 783.4 2 425.2 1 743.8 629.8

6 140.0 2 600.8 1 849.0 678.3

6 659.4 2 927.2 2 059.7 733.9

7 069.9 3 217.0 2 245.2 772.2

7 496.9 3 551.5 2 469.6 780.5

7 823.1 3 817.0 2 635.6 786.7

7 477.6 3 437.1 2 337.7 779.7

7 276.8 3 246.5 2 193.7 756.6

7 347.7 3 299.5 2 224.2 749.7

1 174.6

1 150.9

1 159.7

1 197.9

1 267.2

1 302.4

1 361.5

1 424.1

1 460.0

1 534.7

1 570.5

1 606.2

1 606.1

1 636.1

229.4

232.4

236.7

248.6

260.7

273.3

282.0

290.5

299.3

310.5

312.9

317.3

318.3

322.1

10 984 1 688.0 9 295.8 8 210.7

11 506 11 891 12 303 12 807 13 289 13 683 14 087 14 446 14 798 15 109 15 645 16 199 16 588 1 736.6 1 713.1 1 755.4 1 894.9 2 010.2 2 077.6 2 155.0 2 232.9 2 320.4 2 390.4 2 510.6 2 642.8 2 695.1 9 769.8 10 178.0 10 548.1 10 911.7 11 278.4 11 604.9 11 932.2 12 213.5 12 477.1 12 718.0 13 134.0 13 555.7 13 892.6 8 617.7 8 954.8 9 253.6 9 529.7 9 808.9 10 092.6 10 358.0 10 540.9 10 690.9 10 857.8 11 188.1 11 536.0 11 817.1

2 841.6 1 278.0 260.5 287.5 3 512.6

3 028.4 1 345.2 271.4 340.7 3 617.3

3 199.9 1 401.1 286.5 393.4 3 711.4

3 385.5 1 442.0 303.1 463.8 3 740.0

3 578.8 1 480.9 314.5 553.2 3 724.0

3 767.5 1 540.4 328.8 621.8 3 733.7

3 939.9 1 603.8 340.2 667.2 3 772.8

4 093.0 1 660.5 352.1 702.8 3 821.6

4 161.2 1 723.6 363.3 659.5 3 892.4

4 226.6 1 786.6 375.4 629.6 3 935.5

4 320.3 1 839.9 386.4 633.3 3 954.3

4 461.5 1 911.2 399.7 638.6 4 050.9

4 633.2 1 967.8 413.0 679.8 4 159.6

4 786.4 2 002.5 426.8 732.6 4 244.6

1 856.4 1 169.8 1 085.1 387.8

1 972.0 1 240.2 1 152.2 413.2

2 043.5 1 273.4 1 223.3 446.5

2 128.1 1 319.3 1 294.4 468.9

2 227.0 1 377.1 1 381.9 510.0

2 307.7 1 413.0 1 469.5 557.1

2 379.9 1 448.4 1 512.3 559.2

2 443.4 1 474.6 1 574.2 570.4

2 487.3 1 489.3 1 672.6 615.1

2 528.8 1 501.0 1 786.2 673.7

2 583.2 1 513.6 1 860.2 695.8

2 675.8 1 546.8 1 945.9 714.6

2 743.3 1 573.2 2 019.7 744.1

2 786.2 1 579.8 2 075.4 755.3

Leisure and hospitality ........................... Arts, entertainment, and recreation ... Performing arts and spectator sports ......................................... Museums, historical sites, zoos, and parks ................................... Amusements, gambling, and recreation .................................. Accommodation and food services ... Accommodation ............................. Food services and drinking places ........................................

9 288 1 132.0

9 256 1 177.0

9 437 1 236.3

9 732 1 301.9

10 100 1 375.6

10 501 1 459.4

10 777 1 522.1

11 018 1 599.9

11 232 1 645.2

11 543 1 709.1

11 862 1 787.9

12 036 1 824.4

11 986 1 782.6

12 173 1 812.9

272.7

282.7

289.5

286.8

296.1

307.7

328.6

349.6

350.0

361.1

381.8

382.3

363.7

371.7

103.1

110.4

115.0

114.0

114.7

Other services ....................................... Repair and maintenance ................... Personal and laundry services .......... Membership associations and organizations ................................. Government ........................................... Federal .............................................. Federal, except U.S. Postal Service ...................................... U.S. Postal Service ....................... State government .............................. State government education ......... State government, excluding education ................................... Local government .............................. Local government education ......... Local government, excluding education ................................... 1Includes

68.0

71.0

75.0

78.3

81.8

83.9

88.9

93.8

97.4

791.3 8 155.6 1 616.0

823.4 8 078.9 1 574.3

871.8 8 200.5 1 561.5

936.8 8 430.4 1 580.5

997.7 8 724.1 1 615.3

1 067.8 9 041.6 1 652.5

1 104.5 9 254.3 1 698.9

1 156.5 9 417.9 1 729.5

1 197.9 9 586.2 1 773.5

1 244.9 1 295.7 1 327.1 1 305.0 1 326.5 9 833.7 10 073.5 10 211.3 10 203.2 10 359.8 1 831.7 1 884.4 1 852.2 1 778.6 1 775.4

6 539.6

6 504.6

6 639.0

6 849.9

7 108.7

7 389.1

7 555.4

7 688.5

7 812.7

8 002.0

8 189.1

8 359.1

8 424.6

8 584.4

4 261 1 009.0 1 119.9

4 249 960.0 1 109.2

4 240 964.0 1 098.9

4 350 998.0 1 116.0

4 428 1 023.5 1 120.3

4 572 1 078.9 1 143.9

4 690 1 135.5 1 165.7

4 825 1 169.3 1 180.4

4 976 1 189.2 1 205.6

5 087 1 222.0 1 220.3

5 168 1 241.5 1 242.9

5 258 1 256.5 1 255.0

5 372 1 246.9 1 257.2

5 401 1 233.6 1 263.5

2 132.2

2 179.5

2 177.1

2 236.4

2 284.5

2 348.9

2 389.1

2 474.9

2 581.3

2 644.4

2 683.3

2 746.4

2 867.8

2 903.6

18 415 3 196

18 545 3 110

18 787 3 111

18 989 3 063

19 275 3 018

19 432 2 949

19 539 2 877

19 664 2 806

19 909 2 772

20 307 2 769

20 790 2 865

21 118 2 764

21 513 2 766

21 583 2 761

2 370.5 825.1 4 305 1 729.9

2 296.2 813.2 4 355 1 767.6

2 310.7 800.0 4 408 1 798.6

2 269.4 793.2 4 488 1 834.1

2 197.2 820.6 4 576 1 881.9

2 098.8 849.9 4 635 1 919.0

2 009.8 867.2 4 606 1 910.7

1 940.2 866.0 4 582 1 904.0

1 891.3 880.5 4 612 1 922.2

1 879.5 889.7 4 709 1 983.2

1 984.8 879.7 4 786 2 030.6

1 891.0 873.0 4 905 2 112.9

1 923.8 842.4 5 029 2 242.8

1 952.4 808.6 5 002 2 254.7

2 574.6 10 914 5 902.1

2 587.3 11 081 5 994.1

2 609.7 11 267 6 075.9

2 653.8 11 438 6 206.3

2 693.6 11 682 6 329.4

2 715.5 11 849 6 453.1

2 695.1 12 056 6 592.3

2 677.9 12 276 6 758.5

2 690.2 12 525 6 920.9

2 725.6 12 829 7 120.4

2 755.9 13 139 7 293.9

2 791.8 13 449 7 479.3

2 786.3 13 718 7 654.4

2 747.6 13 820 7 709.4

5 012.4

5 086.9

5 191.6

5 231.9

5 352.2

5 396.0

5 464.1

5 516.9

5 603.9

5 708.6

5 844.6

5 970.0

6 063.2

6 110.2

other industries, not shown separately.

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

323

Table 16-1. Nonfarm Employment by NAICS Sector and Industry—Continued (Wage and salary workers on nonfarm payrolls, thousands.) 2004, seasonally adjusted Industry

Professional and business services ...... Professional and technical services 1 ....................................... Legal services ............................... Accounting and bookkeeping services ..................................... Architectural and engineering services ..................................... Computer systems design and related services ......................... Management and technical consulting services .................... Management of companies and enterprises ..................................... Administrative and waste services .... Administrative and support services 1 ................................... Employment services 1 .............. Temporary help services ....... Business support services ......... Services to buildings and dwellings ................................ Waste management and remediation services .................

2004 January

February

16 414

16 138

16 153

6 762.0 1 161.8

6 665.7 1 153.7

816.0

March

April

May

June

July

16 184

16 305

16 384

16 415

16 453

6 672.3 1 155.2

6 696.7 1 155.9

6 712.2 1 158.6

6 730.0 1 160.0

6 754.0 1 163.5

810.1

812.0

811.3

811.6

810.7

1 260.8

1 232.7

1 236.1

1 242.6

1 249.4

1 147.4

1 123.4

1 122.6

1 129.3

1 127.7

August

September

October

November December

16 470

16 514

16 614

16 611

16 674

6 765.1 1 165.0

6 779.7 1 163.6

6 805.4 1 166.8

6 835.3 1 167.4

6 834.4 1 163.1

6 869.9 1 164.4

810.5

813.9

814.2

816.1

821.5

816.6

840.8

1 254.6

1 258.7

1 262.0

1 264.4

1 270.5

1 280.5

1 284.9

1 289.5

1 134.0

1 142.3

1 145.9

1 155.0

1 161.1

1 167.3

1 174.1

1 174.3

779.0

758.8

760.4

765.7

772.9

778.2

783.6

784.7

786.9

787.9

790.5

787.8

789.9

1 718.0 7 934.0

1 708.9 7 763.3

1 711.1 7 769.2

1 714.5 7 772.9

1 717.6 7 875.5

1 719.8 7 934.1

1 722.6 7 938.3

1 723.7 7 964.0

1 720.7 7 969.7

1 715.0 7 993.2

1 715.3 8 063.1

1 722.5 8 054.3

1 725.6 8 078.0

7 608.7 3 470.3 2 393.2 754.5

7 441.5 3 364.6 2 288.3 745.2

7 446.1 3 375.3 2 307.0 746.1

7 448.8 3 358.1 2 308.6 752.4

7 550.2 3 422.4 2 355.0 755.5

7 609.4 3 461.2 2 385.0 757.5

7 611.2 3 449.5 2 383.9 760.3

7 637.2 3 477.5 2 398.6 758.1

7 643.1 3 480.0 2 411.8 757.9

7 667.3 3 513.5 2 438.7 752.6

7 736.4 3 572.9 2 486.5 755.9

7 728.2 3 570.5 2 484.7 754.6

7 751.4 3 584.5 2 479.4 757.0

1 694.2

1 657.9

1 655.1

1 663.9

1 688.5

1 700.1

1 707.7

1 705.2

1 706.6

1 706.4

1 708.6

1 707.2

1 706.1

325.3

321.8

323.1

324.1

325.3

324.7

327.1

326.8

326.6

325.9

326.7

326.1

326.6

Education and health services .............. Educational services ......................... Health care and social assistance ..... Health care .................................... Ambulatory health care services 1 ............................... Offices of physicians ............. Outpatient care centers ......... Home health care services .... Hospitals .................................... Nursing and residential care facilities 1 ............................... Nursing care facilities ............ Social assistance 1 ........................ Child day care services .............

16 954 2 766.4 14 187.3 12 054.8

16 766 2 741.6 14 024.8 11 931.7

16 787 2 740.0 14 047.2 11 942.1

16 833 2 745.8 14 087.1 11 975.3

16 871 2 747.3 14 123.6 12 004.5

16 913 2 754.1 14 158.5 12 031.8

16 936 2 755.1 14 180.7 12 048.5

16 963 2 765.6 14 197.8 12 070.4

17 010 2 772.3 14 237.8 12 094.0

17 019 2 773.2 14 246.1 12 106.0

17 081 2 794.0 14 287.2 12 135.3

17 108 2 797.2 14 310.7 12 153.6

17 142 2 805.5 14 336.1 12 168.4

4 946.4 2 053.9 446.2 773.2 4 293.6

4 867.1 2 027.8 437.6 755.0 4 267.9

4 884.8 2 029.9 441.7 757.8 4 260.4

4 898.9 2 038.0 441.7 760.9 4 272.0

4 916.1 2 042.0 443.5 765.3 4 279.7

4 929.9 2 046.4 445.8 768.5 4 290.0

4 941.9 2 051.1 446.6 771.7 4 292.2

4 956.2 2 054.5 448.4 775.4 4 296.2

4 969.2 2 059.1 449.7 778.0 4 305.0

4 975.0 2 064.5 448.7 779.5 4 306.0

4 996.9 2 074.2 449.5 782.7 4 311.2

5 006.7 2 077.7 449.8 789.2 4 319.7

5 017.0 2 084.3 450.3 790.7 4 323.5

2 814.8 1 575.3 2 132.5 767.1

2 796.7 1 572.5 2 093.1 750.3

2 796.9 1 570.4 2 105.1 758.2

2 804.4 1 572.8 2 111.8 758.8

2 808.7 1 574.8 2 119.1 760.3

2 811.9 1 575.8 2 126.7 762.0

2 814.4 1 576.3 2 132.2 767.4

2 818.0 1 576.9 2 127.4 770.4

2 819.8 1 576.7 2 143.8 776.1

2 825.0 1 576.6 2 140.1 767.9

2 827.2 1 576.8 2 151.9 772.8

2 827.2 1 576.4 2 157.1 775.3

2 827.9 1 574.5 2 167.7 780.4

Leisure and hospitality ........................... Arts, entertainment, and recreation ... Performing arts and spectator sports ......................................... Museums, historical sites, zoos, and parks ................................... Amusements, gambling, and recreation .................................. Accommodation and food services ... Accommodation ............................. Food services and drinking places ........................................

12 479 1 833.0

12 351 1 834.5

12 367 1 834.2

12 412 1 836.5

12 443 1 833.4

12 474 1 836.6

12 486 1 834.8

12 497 1 830.9

12 508 1 831.0

12 522 1 836.2

12 546 1 834.4

12 571 1 826.4

12 589 1 811.0

364.8

370.5

370.2

367.5

365.1

362.8

363.6

359.2

358.4

363.6

364.4

362.5

357.9

117.1

115.4

115.6

116.0

117.0

117.8

117.8

118.6

118.8

118.3

118.2

116.9

114.8

1 351.1 10 646.0 1 795.9

1 348.6 10 516.4 1 778.0

1 348.4 10 532.4 1 781.2

1 353.0 10 575.3 1 785.3

1 351.3 10 609.4 1 791.6

1 356.0 10 637.1 1 792.2

1 353.4 10 650.7 1 798.0

1 353.1 10 666.1 1 797.3

1 353.8 10 676.5 1 801.3

1 354.3 10 685.3 1 801.5

1 351.8 10 712.0 1 800.6

1 347.0 10 744.1 1 814.7

1 338.3 10 778.4 1 824.6

8 850.1

8 738.4

8 751.2

8 790.0

8 817.8

8 844.9

8 852.7

8 868.8

8 875.2

8 883.8

8 911.4

8 929.4

8 953.8

Other services ....................................... Repair and maintenance ................... Personal and laundry services .......... Membership associations and organizations .................................

5 431 1 227.6 1 274.1

5 405 1 227.0 1 266.6

5 402 1 223.5 1 264.0

5 420 1 231.6 1 273.0

5 428 1 229.5 1 275.7

5 434 1 229.6 1 281.6

5 443 1 226.5 1 283.4

5 438 1 227.4 1 278.0

5 441 1 225.9 1 276.9

5 436 1 226.9 1 271.5

5 434 1 227.9 1 267.8

5 441 1 227.1 1 271.6

5 447 1 229.9 1 276.8

2 929.1

2 911.5

2 914.4

2 915.7

2 922.3

2 922.3

2 932.7

2 932.8

2 937.9

2 937.9

2 938.1

2 942.3

2 940.6

Government ........................................... Federal .............................................. Federal, except U.S. Postal Service ...................................... U.S. Postal Service ....................... State government .............................. State government education ......... State government, excluding education ................................... Local government .............................. Local government education ......... Local government, excluding education ...................................

21 618 2 728

21 533 2 729

21 551 2 731

21 582 2 730

21 607 2 745

21 586 2 729

21 571 2 731

21 586 2 726

21 645 2 730

21 677 2 730

21 700 2 723

21 706 2 728

21 700 2 706

1 943.4 784.1 4 985 2 249.2

1 937.6 791.3 4 961 2 230.1

1 940.0 790.5 4 971 2 240.2

1 940.8 788.9 4 974 2 242.4

1 957.2 787.3 4 975 2 243.3

1 943.2 785.8 4 967 2 233.3

1 946.3 785.1 4 963 2 228.2

1 939.2 786.4 4 976 2 241.4

1 945.5 784.3 4 987 2 249.4

1 946.8 783.4 5 000 2 263.7

1 940.1 782.5 5 007 2 268.4

1 946.4 781.4 5 015 2 271.3

1 939.5 766.4 5 020 2 277.9

2 736.2 13 905 7 762.5

2 731.1 13 843 7 712.8

2 730.4 13 849 7 717.6

2 731.3 13 878 7 743.0

2 731.6 13 887 7 750.7

2 733.2 13 890 7 752.9

2 734.4 13 877 7 742.5

2 734.4 13 884 7 757.8

2 737.8 13 928 7 785.7

2 736.4 13 947 7 793.2

2 738.2 13 970 7 810.8

2 743.4 13 963 7 806.3

2 741.9 13 974 7 810.8

6 143.0

6 130.6

6 130.9

6 135.0

6 136.4

6 137.3

6 134.5

6 126.6

6 142.2

6 153.4

6 159.3

6 156.7

6 163.1

1Includes

other industries, not shown separately.

324

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-2. Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (Wage and salary workers on nonfarm payrolls, thousands.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

73 684

72 520

72 786

74 591

77 382

79 845

81 773

84 158

86 316

88 430

90 336

89 983

88 393

87 658

Goods–producing ..................................

17 322

16 352

16 043

16 236

16 795

17 137

17 318

17 698

18 008

18 067

18 169

17 466

16 400

15 732

Natural resources and mining ..................

538

515

478

462

461

458

461

479

473

438

446

457

436

420

Construction .............................................

4 115

3 674

3 546

3 704

3 973

4 113

4 325

4 546

4 807

5 105

5 295

5 332

5 196

5 123

Manufacturing ..........................................

12 669

12 164

12 020

12 070

12 361

12 566

12 532

12 673

12 729

12 524

12 428

11 677

10 768

10 190

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment 1 ............. Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

7 396 449.9 413.2 525.1 1 190.1 937.6 980.2

7 000 412.8 384.1 496.9 1 131.6 883.6 925.6

6 852 417.0 378.4 478.7 1 101.0 856.3 876.3

6 879 436.8 380.7 473.3 1 116.9 874.1 856.4

7 132 468.7 392.3 487.4 1 172.0 921.1 863.9

7 351 477.5 399.7 500.3 1 223.0 968.5 890.3

7 425 484.9 404.8 500.3 1 241.6 983.2 915.2

7 597 496.6 412.5 501.6 1 285.3 1 005.5 951.1

7 720 507.9 420.6 505.3 1 319.6 1 014.7 964.7

7 650 514.4 426.0 491.9 1 304.9 977.0 932.9

7 658 505.6 439.5 490.0 1 325.8 959.9 949.3

7 163 468.3 427.1 446.9 1 253.5 889.1 875.8

6 529 448.7 398.8 396.2 1 147.0 785.4 744.1

6 152 433.0 374.7 370.3 1 092.5 730.9 672.7

465.2 1 472.5 869.5 475.2 487.2

435.6 1 405.5 840.1 440.0 484.2

425.0 1 387.7 868.0 442.8 489.1

421.8 1 366.1 896.4 454.2 498.2

434.7 1 414.6 978.4 475.7 502.1

438.4 1 471.1 1 048.9 480.0 502.2

433.9 1 480.0 1 052.4 477.9 503.3

427.7 1 520.8 1 062.4 489.7 506.6

431.8 1 529.2 1 050.2 512.1 514.3

433.2 1 525.4 1 075.8 532.4 512.2

433.1 1 496.7 1 073.0 544.3 513.2

402.2 1 397.7 986.8 509.0 493.1

351.9 1 309.3 931.0 474.8 472.5

319.5 1 268.5 906.3 444.2 445.3

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

5 273 1 165.0 117.2 417.9 170.1 830.0 116.6 493.2

5 164 1 174.2 116.9 407.2 160.9 805.1 107.5 488.4

5 168 1 182.0 116.2 406.0 163.0 809.8 104.4 489.9

5 192 1 195.3 117.6 403.9 167.2 788.0 101.4 490.9

5 229 1 200.4 118.2 403.3 176.0 763.1 97.2 492.8

5 215 1 221.0 117.3 393.2 176.3 719.3 88.5 493.8

5 107 1 227.7 120.1 371.7 173.4 650.2 78.5 487.5

5 076 1 227.7 121.4 367.1 174.7 611.5 73.6 488.7

5 009 1 227.6 122.5 357.2 173.9 549.9 67.0 484.1

4 873 1 228.7 120.1 333.7 173.4 471.8 59.9 474.0

4 770 1 227.9 116.9 315.2 171.8 415.4 55.4 467.5

4 514 1 221.3 115.6 275.8 163.9 351.2 46.8 446.3

4 239 1 202.3 119.5 242.2 153.7 294.3 40.0 421.4

4 038 1 192.5 106.4 216.9 141.3 248.6 34.9 392.7

597.6 97.5 620.3 647.7

581.7 97.4 599.7 624.8

573.6 96.8 586.2 639.8

579.7 93.0 590.1 664.7

591.4 90.9 595.6 699.6

599.1 88.8 598.4 719.8

594.0 87.2 595.1 721.3

597.0 87.8 593.3 732.7

598.4 87.1 600.6 740.4

585.1 84.6 595.2 747.0

575.7 83.1 587.7 753.6

544.4 80.9 562.2 705.3

492.6 78.0 531.9 662.7

471.2 74.4 524.9 634.3

Private service–providing .....................

56 362

56 168

56 743

58 355

60 587

62 708

64 455

66 460

68 308

70 363

72 167

72 517

71 993

71 926

Trade, transportation, and utilities ...........

19 032

18 640

18 506

18 752

19 392

19 984

20 325

20 698

21 059

21 576

21 965

21 709

21 337

21 078

Wholesale trade ...................................

4 198.3

4 122.2

4 070.7

4 072.2

4 196.4

4 360.8

4 423.2

4 523.2

4 605.0

4 673.1

4 686.4

4 555.1

4 473.5

4 395.9

Retail trade .......................................... 11 308.4 11 007.9 10 931.4 11 104.0 11 502.1 11 841.0 12 056.7 12 273.6 12 439.8 12 771.5 13 039.8 12 952.3 12 774.0 12 654.9 Transportation and warehousing .........

2 940.8

2 928.4

2 934.3

3 019.4

3 152.8

3 260.2

3 339.3

3 406.8

3 521.6

3 641.9

3 753.2

3 718.2

3 611.3

3 563.1

Utilities .................................................

584.9

581.5

569.5

556.5

540.9

521.8

505.5

493.8

492.2

489.2

485.1

482.8

478.4

463.7

Information ...............................................

1 866

1 871

1 871

1 896

1 928

2 007

2 096

2 181

2 217

2 351

2 502

2 530

2 398

2 347

Financial activities ....................................

4 973

4 911

4 908

5 057

5 183

5 165

5 279

5 415

5 605

5 728

5 737

5 810

5 872

5 967

Professional and business services .........

8 889

8 748

8 971

9 451

10 078

10 645

11 161

11 896

12 566

13 184

13 790

13 588

13 049

12 910

Education and health services .................

9 748

10 212

10 555

10 908

11 338

11 765

12 123

12 478

12 791

13 089

13 362

13 846

14 311

14 532

Leisure and hospitality .............................

8 299

8 247

8 406

8 667

8 979

9 330

9 565

9 780

9 947

10 216

10 516

10 662

10 576

10 666

Other services ..........................................

3 555

3 539

3 526

3 623

3 689

3 812

3 907

4 013

4 124

4 219

4 296

4 373

4 449

4 426

1Includes

other industries, not shown separately.

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

325

Table 16-2. Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry —Continued (Wage and salary workers on nonfarm payrolls, thousands.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November December

Total private ...........................................

88 976

87 907

87 976

88 216

88 565

88 817

88 978

89 087

89 262

89 371

89 648

89 781

89 921

Goods–producing ..................................

15 823

15 642

15 649

15 699

15 767

15 818

15 822

15 848

15 891

15 887

15 939

15 933

15 957

Natural resources and mining ..................

440

425

425

434

439

442

440

443

446

448

445

450

452

Construction .............................................

5 300

5 196

5 211

5 237

5 264

5 283

5 287

5 303

5 314

5 322

5 383

5 379

5 408

Manufacturing ..........................................

10 083

10 021

10 013

10 028

10 064

10 093

10 095

10 102

10 131

10 117

10 111

10 104

10 097

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment 1 ............. Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

6 137 443.2 387.4 363.0 1 109.2 727.7 657.4

6 075 435.0 383.2 360.6 1 088.3 715.8 645.7

6 075 438.1 378.4 361.0 1 091.7 717.2 643.6

6 085 438.6 379.6 360.8 1 093.9 719.8 647.2

6 114 439.0 384.1 361.8 1 102.3 724.0 649.6

6 138 442.2 388.8 363.2 1 109.8 726.3 654.8

6 147 444.5 389.1 365.2 1 110.1 729.6 657.5

6 144 445.1 390.5 365.1 1 113.7 731.9 665.8

6 180 446.1 390.6 364.3 1 116.9 737.7 666.5

6 172 445.7 392.0 363.5 1 117.8 733.9 667.0

6 172 448.9 391.6 364.2 1 120.2 733.6 665.3

6 166 447.4 391.0 363.7 1 120.9 732.6 662.8

6 170 449.3 389.6 363.2 1 121.6 731.7 665.9

308.5 1 262.5 900.0 443.3 435.1

309.9 1 261.1 901.3 440.9 434.5

308.2 1 261.5 900.8 440.6 434.9

306.6 1 261.3 900.7 443.1 434.1

306.3 1 266.4 904.3 445.3 434.9

306.7 1 266.0 904.4 444.7 435.9

307.7 1 263.3 900.2 444.1 436.2

308.0 1 242.5 880.5 444.8 436.2

309.9 1 269.3 908.3 443.9 435.1

309.3 1 265.6 903.3 442.9 434.4

307.6 1 265.3 903.5 442.0 433.3

309.8 1 261.2 895.9 441.7 434.8

308.7 1 266.1 897.6 440.7 433.6

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

3 945 1 180.9 106.4 195.2 142.4 224.7 33.6 376.5

3 946 1 177.9 104.4 200.1 139.5 232.7 33.0 378.7

3 938 1 177.9 101.7 198.1 139.5 232.6 33.3 376.8

3 943 1 179.1 103.8 198.5 141.6 231.5 33.3 377.4

3 950 1 181.6 104.4 197.4 144.0 230.4 33.3 377.9

3 955 1 183.5 105.5 196.6 145.3 227.9 33.5 377.5

3 948 1 181.2 107.5 196.4 141.2 225.2 33.5 374.2

3 958 1 187.1 107.4 195.4 142.8 222.6 33.9 377.5

3 951 1 182.7 107.0 194.5 142.5 223.8 33.2 377.4

3 945 1 179.9 107.7 193.0 142.7 222.3 33.2 376.2

3 939 1 178.7 107.4 191.8 142.8 217.1 33.8 376.1

3 938 1 181.4 109.2 190.2 143.6 214.1 34.5 375.1

3 927 1 186.2 108.2 188.5 142.2 213.0 34.0 374.6

461.1 77.4 520.0 627.2

462.9 75.2 518.5 623.2

461.5 74.9 518.4 623.0

461.1 75.4 518.7 623.0

460.9 75.6 519.8 624.5

461.6 76.8 520.2 626.7

463.4 77.9 520.1 627.6

461.4 78.3 521.3 630.0

460.9 78.9 522.0 628.2

459.4 79.2 522.7 628.8

460.0 79.2 522.8 628.8

460.7 79.5 519.4 630.6

459.0 78.7 516.2 626.7

Private service–providing .....................

73 152

72 265

72 327

72 517

72 798

72 999

73 156

73 239

73 371

73 484

73 709

73 848

73 964

Trade, transportation, and utilities ...........

21 298

21 112

21 133

21 203

21 232

21 277

21 313

21 317

21 331

21 365

21 402

21 453

21 443

Wholesale trade ...................................

4 438.0

4 383.4

4 384.8

4 395.2

4 410.5

4 427.5

4 432.4

4 444.3

4 453.2

4 464.3

4 473.2

4 483.2

4 490.6

Retail trade .......................................... 12 766.4

12 686.5

12 704.7

12 745.4

12 750.5

12 767.8

12 786.5

12 775.4

12 781.7

12 781.6

12 796.7

12 825.4

12 810.3

Transportation and warehousing .........

3 638.1

3 583.4

3 586.9

3 606.5

3 613.2

3 625.0

3 638.6

3 641.8

3 643.1

3 665.3

3 679.8

3 690.1

3 687.3

Utilities .................................................

455.2

458.5

456.9

456.1

457.5

457.1

455.6

455.2

452.8

453.3

452.6

454.0

454.8

Information ...............................................

2 389

2 332

2 341

2 342

2 367

2 381

2 393

2 400

2 407

2 412

2 421

2 421

2 439

Financial activities ....................................

6 001

5 956

5 956

5 958

5 966

5 981

6 002

5 998

6 010

6 027

6 038

6 049

6 065

Professional and business services .........

13 306

13 013

13 020

13 066

13 193

13 266

13 294

13 346

13 378

13 432

13 521

13 525

13 557

Education and health services .................

14 771

14 630

14 639

14 659

14 699

14 728

14 753

14 775

14 821

14 815

14 871

14 895

14 929

Leisure and hospitality .............................

10 945

10 810

10 831

10 867

10 910

10 928

10 949

10 959

10 967

10 981

11 006

11 044

11 060

Other services ..........................................

4 442

4 412

4 407

4 422

4 431

4 438

4 452

4 444

4 457

4 452

4 450

4 461

4 471

1Includes

other industries, not shown separately.

326

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-3. Average Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (Hours.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

34.3

34.1

34.2

34.3

34.5

34.3

34.3

34.5

34.5

34.3

34.3

34.0

33.9

33.7

Goods–producing ..................................

40.1

40.1

40.2

40.6

41.1

40.8

40.8

41.1

40.8

40.8

40.7

39.9

39.9

39.8

Natural resources and mining ..................

45.0

45.3

44.6

44.9

45.3

45.3

46.0

46.2

44.9

44.2

44.4

44.6

43.2

43.6

Construction .............................................

38.3

38.1

38.0

38.4

38.8

38.8

38.9

38.9

38.8

39.0

39.2

38.7

38.4

38.4

Manufacturing .......................................... Overtime hours ............................

40.5 3.8

40.4 3.8

40.7 4.0

41.1 4.4

41.7 5.0

41.3 4.7

41.3 4.8

41.7 5.1

41.4 4.8

41.4 4.8

41.3 4.7

40.3 4.0

40.5 4.2

40.4 4.2

Durable goods ..................................... Overtime hours ............................

41.1 3.9

40.9 3.7

41.3 3.9

41.9 4.5

42.6 5.3

42.1 5.0

42.1 5.0

42.6 5.4

42.1 5.0

41.9 5.0

41.8 4.8

40.6 3.9

40.8 4.2

40.8 4.3

Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

40.4 40.9 42.0 41.0 42.1 41.3

40.2 40.5 41.5 40.8 41.9 40.9

40.9 41.0 42.4 41.2 42.4 41.4

41.2 41.5 43.1 41.6 43.2 41.8

41.7 42.2 44.1 42.3 43.9 42.2

41.0 41.8 43.4 41.9 43.5 42.2

41.2 42.0 43.6 41.9 43.3 41.9

41.4 41.9 44.3 42.3 44.0 42.5

41.4 42.2 43.5 41.9 43.1 41.8

41.3 42.1 43.8 41.7 42.3 41.5

41.0 41.6 44.2 41.9 42.3 41.4

40.2 41.6 42.4 40.6 40.9 39.8

39.9 42.0 42.4 40.6 40.5 39.7

40.4 42.2 42.3 40.7 40.8 40.4

41.2 42.0 41.4 38.0 39.0

41.5 41.9 41.5 37.8 39.1

41.8 41.9 41.6 38.7 39.3

42.4 43.0 43.3 39.0 39.2

43.0 44.3 44.8 39.3 39.4

41.9 43.7 43.8 38.5 39.2

42.1 43.8 43.8 38.3 39.1

42.1 44.2 43.9 39.1 39.7

41.8 43.2 42.6 39.4 39.2

41.8 43.6 43.8 39.3 39.3

41.6 43.3 43.4 39.2 39.0

39.8 41.9 41.6 38.3 38.8

40.1 42.5 42.6 39.2 38.6

40.6 41.9 42.0 38.9 38.4

Nondurable goods ............................... Overtime hours ............................

39.6 3.8

39.7 3.9

40.0 4.1

40.1 4.2

40.5 4.5

40.1 4.3

40.1 4.4

40.5 4.6

40.5 4.5

40.4 4.6

40.3 4.4

39.9 4.1

40.1 4.2

39.8 4.1

Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

39.3 38.9 40.2 39.0 34.8 37.4 43.6

39.2 38.8 40.7 39.1 35.4 37.6 43.6

39.2 38.7 41.3 39.2 35.6 37.9 43.8

39.3 38.3 41.6 39.8 35.5 38.4 43.8

39.8 39.3 41.9 39.9 35.7 38.2 44.2

39.6 39.3 40.9 39.1 35.3 37.7 43.4

39.5 39.7 40.8 39.2 35.2 37.8 43.5

39.8 40.0 41.6 39.6 35.5 38.2 43.9

40.1 40.3 41.0 39.5 35.5 37.4 43.6

40.2 41.0 41.0 39.4 35.4 37.2 43.6

40.1 42.0 41.4 39.0 35.7 37.5 42.8

39.6 40.9 40.0 38.6 36.0 36.4 42.1

39.6 39.4 40.6 39.2 36.7 37.5 41.9

39.3 39.1 39.1 39.6 35.6 39.3 41.5

38.7 44.4 42.8 40.6

38.6 43.9 43.1 40.5

39.0 43.6 43.3 41.2

39.2 44.0 43.2 41.4

39.6 44.3 43.4 41.8

39.1 43.7 43.3 41.1

39.1 43.7 43.3 41.0

39.5 43.1 43.4 41.4

39.3 43.6 43.2 41.3

39.1 42.6 42.7 41.3

39.2 42.7 42.2 40.8

38.7 43.8 41.9 40.0

38.4 43.0 42.3 40.6

38.2 44.5 42.4 40.4

Private service–providing .....................

32.5

32.4

32.5

32.5

32.7

32.6

32.6

32.8

32.8

32.7

32.7

32.5

32.5

32.4

Trade, transportation, and utilities ...........

33.7

33.7

33.8

34.1

34.3

34.1

34.1

34.3

34.2

33.9

33.8

33.5

33.6

33.6

Wholesale trade ...................................

38.4

38.4

38.6

38.5

38.8

38.6

38.6

38.8

38.6

38.6

38.8

38.4

38.0

37.9

Retail trade ..........................................

30.6

30.4

30.7

30.7

30.9

30.8

30.7

30.9

30.9

30.8

30.7

30.7

30.9

30.9

Transportation and warehousing .........

37.7

37.4

37.4

38.9

39.5

38.9

39.1

39.4

38.7

37.6

37.4

36.7

36.8

36.8

Utilities .................................................

41.5

41.5

41.7

42.1

42.3

42.3

42.0

42.0

42.0

42.0

42.0

41.4

40.9

41.1

Information ...............................................

35.8

35.6

35.8

36.0

36.0

36.0

36.4

36.3

36.6

36.7

36.8

36.9

36.5

36.2

Financial activities ....................................

35.5

35.5

35.6

35.5

35.5

35.5

35.5

35.7

36.0

35.8

35.9

35.8

35.6

35.5

Professional and business services .........

34.2

34.0

34.0

34.0

34.1

34.0

34.1

34.3

34.3

34.4

34.5

34.2

34.2

34.1

Education and health services .................

31.9

31.9

32.0

32.0

32.0

32.0

31.9

32.2

32.2

32.1

32.2

32.3

32.4

32.3

Leisure and hospitality .............................

26.0

25.6

25.7

25.9

26.0

25.9

25.9

26.0

26.2

26.1

26.1

25.8

25.8

25.6

Other services ..........................................

32.8

32.7

32.6

32.6

32.7

32.6

32.5

32.7

32.6

32.5

32.5

32.3

32.0

31.4

327

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY Table 16-3. Average Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry—Continued (Hours.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November

December

Total private ...........................................

33.7

33.8

33.8

33.7

33.7

33.8

33.6

33.7

33.7

33.8

33.8

33.7

33.7

Goods–producing ..................................

40.0

40.2

40.2

40.2

40.0

40.2

39.9

40.1

40.0

40.1

39.9

39.9

40.0

Natural resources and mining ..................

44.5

44.4

44.1

44.2

44.3

44.2

43.9

44.2

44.4

44.5

44.8

45.0

45.4

Construction .............................................

38.3

38.4

38.3

38.6

38.2

38.3

38.0

38.3

38.1

38.3

38.2

38.3

38.4

Manufacturing .......................................... Overtime hours ............................

40.8 4.6

41.0 4.5

41.0 4.5

40.9 4.6

40.8 4.5

41.0 4.6

40.7 4.5

40.8 4.6

40.9 4.6

40.8 4.6

40.7 4.5

40.5 4.5

40.5 4.5

Durable goods ..................................... Overtime hours ............................

41.3 4.7

41.5 4.7

41.5 4.7

41.4 4.8

41.3 4.7

41.5 4.8

41.2 4.6

41.3 4.7

41.3 4.7

41.2 4.7

41.2 4.7

40.9 4.6

41.1 4.6

Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

40.6 42.3 43.1 41.1 41.9 40.4

41.0 42.4 43.2 41.2 41.7 40.9

41.1 42.4 43.0 41.2 41.8 41.1

40.9 42.7 43.1 41.1 41.7 40.7

40.9 42.3 43.2 41.0 41.9 40.6

41.3 42.1 43.4 41.2 42.2 40.7

40.6 41.8 43.4 41.0 42.0 40.4

40.7 42.2 43.2 41.2 42.1 40.7

40.8 42.3 43.2 41.2 42.1 40.4

40.4 42.4 43.1 41.2 42.3 40.3

40.3 42.4 43.0 41.1 42.2 40.1

40.0 42.1 42.9 40.9 42.0 39.6

40.3 42.3 42.8 40.9 42.0 39.8

40.7 42.5 42.6 39.5 38.5

41.2 42.8 43.1 39.8 39.1

40.7 42.9 43.2 39.5 38.8

40.7 42.8 43.1 39.6 38.7

40.9 42.4 42.5 39.5 38.4

41.5 42.7 42.8 40.0 38.8

40.8 42.2 42.4 39.6 38.4

40.8 42.4 42.5 39.3 38.6

40.9 42.5 42.6 39.3 38.5

40.6 42.4 42.4 39.3 38.4

40.6 42.3 42.2 39.2 38.4

40.1 42.2 42.2 39.2 38.2

40.0 42.4 42.6 39.5 38.3

Nondurable goods ............................... Overtime hours ............................

40.0 4.4

40.2 4.3

40.3 4.3

40.1 4.3

40.0 4.3

40.3 4.4

40.1 4.4

40.1 4.4

40.2 4.5

40.1 4.4

39.9 4.3

39.8 4.3

39.8 4.3

Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

39.3 39.2 40.1 38.9 36.0 38.4 42.1

39.5 39.5 40.0 39.4 35.7 39.5 42.0

39.5 40.2 40.1 39.9 36.2 39.1 42.1

39.2 39.5 40.3 38.8 36.2 39.0 41.8

39.2 39.8 39.7 38.4 36.0 38.9 42.0

39.6 39.2 40.2 38.7 36.2 38.4 42.6

39.4 38.6 40.3 38.9 35.9 38.3 41.9

39.3 38.9 40.5 38.6 36.0 37.8 42.4

39.3 39.4 40.5 38.8 36.2 38.1 42.5

39.3 39.2 40.2 39.1 36.2 38.2 42.2

39.0 38.6 40.1 39.1 36.0 38.4 42.1

39.1 39.0 40.0 39.1 35.7 38.2 42.1

38.8 39.6 39.8 39.0 35.9 37.6 42.0

38.4 44.9 42.8 40.4

38.6 44.2 42.8 40.8

38.6 44.3 43.2 40.9

38.4 43.7 43.0 40.8

38.4 44.5 43.0 40.8

38.6 45.0 42.9 40.9

38.5 44.9 42.6 40.8

38.6 45.0 42.8 40.5

38.5 45.9 42.9 40.5

38.3 46.0 42.8 40.3

38.3 45.0 42.7 40.1

38.3 45.5 42.4 39.4

38.5 44.6 42.6 39.8

Private service–providing .....................

32.3

32.4

32.4

32.3

32.4

32.4

32.2

32.4

32.4

32.5

32.4

32.3

32.4

Trade, transportation, and utilities ...........

33.5

33.6

33.7

33.6

33.6

33.6

33.2

33.4

33.5

33.6

33.6

33.5

33.6

Wholesale trade ...................................

37.8

37.9

38.0

38.0

38.0

37.8

37.6

37.8

37.7

37.8

37.7

37.7

37.6

Retail trade ..........................................

30.7

30.9

30.9

30.8

30.8

30.8

30.4

30.6

30.7

30.8

30.8

30.6

30.8

Transportation and warehousing .........

37.2

36.9

37.3

37.0

37.1

37.3

36.9

37.2

37.2

37.5

37.5

37.5

37.4

Utilities .................................................

40.9

40.8

41.1

41.1

41.2

41.3

41.1

40.9

40.9

41.4

40.8

40.4

40.7

Information ...............................................

36.3

36.3

36.4

36.3

36.3

36.3

36.5

36.3

36.4

36.3

36.3

36.2

36.4

Financial activities ....................................

35.5

35.7

35.5

35.5

35.6

35.8

35.5

35.6

35.5

35.5

35.7

35.6

35.7

Professional and business services .........

34.2

34.1

34.3

34.1

34.2

34.2

34.0

34.2

34.3

34.7

34.3

34.2

34.2

Education and health services .................

32.4

32.4

32.4

32.3

32.4

32.4

32.4

32.6

32.5

32.5

32.5

32.4

32.5

Leisure and hospitality .............................

25.7

25.7

25.8

25.7

25.7

25.7

25.7

25.6

25.6

25.6

25.7

25.6

25.7

Other services ..........................................

31.0

31.1

31.1

31.1

31.1

31.1

30.9

31.0

31.0

31.0

30.9

30.9

30.8

328

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-4. Average Hourly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (Dollars.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

10.19

10.50

10.76

11.03

11.32

11.64

12.03

12.49

13.00

13.47

14.00

14.53

14.95

15.35

Goods–producing ..................................

11.46

11.76

11.99

12.28

12.63

12.96

13.38

13.82

14.23

14.71

15.27

15.78

16.33

16.80

Natural resources and mining ..................

13.40

13.82

14.09

14.12

14.41

14.78

15.10

15.57

16.20

16.33

16.55

17.00

17.19

17.56

Construction .............................................

13.42

13.65

13.81

14.04

14.38

14.73

15.11

15.67

16.23

16.80

17.48

18.00

18.52

18.95

Manufacturing .......................................... Excluding overtime 1 ....................

10.78 10.29

11.13 10.63

11.40 10.86

11.70 11.10

12.04 11.36

12.34 11.68

12.75 12.05

13.14 12.38

13.45 12.71

13.85 13.09

14.32 13.55

14.76 14.06

15.29 14.54

15.74 14.96

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

11.40 8.82 11.11 12.97 10.64 11.73 10.89

11.81 9.03 11.34 13.37 10.97 12.12 11.35

12.09 9.24 11.57 13.72 11.16 12.40 11.64

12.41 9.41 11.83 14.08 11.40 12.73 11.95

12.78 9.66 12.11 14.47 11.64 12.94 12.19

13.05 9.92 12.39 14.75 11.91 13.14 12.29

13.45 10.24 12.80 15.12 12.26 13.49 12.75

13.83 10.53 13.17 15.40 12.64 13.94 13.24

14.07 10.85 13.59 15.66 12.97 14.24 13.85

14.46 11.18 13.97 16.00 13.34 14.77 14.37

14.93 11.63 14.53 16.64 13.77 15.22 14.73

15.38 11.99 14.86 17.06 14.19 15.49 15.42

16.02 12.33 15.40 17.68 14.68 15.92 16.20

16.45 12.71 15.76 18.13 15.01 16.30 16.69

10.00 14.44 15.00 8.52 8.87

10.30 15.12 15.67 8.74 9.16

10.50 15.59 15.92 9.00 9.44

10.70 16.22 16.56 9.24 9.65

10.90 16.94 17.38 9.51 9.90

11.30 17.21 17.72 9.75 10.23

11.80 17.67 18.14 10.08 10.60

12.20 18.00 18.43 10.50 10.89

12.50 17.92 18.21 10.88 11.18

12.90 18.24 18.49 11.27 11.56

13.20 18.89 19.11 11.72 11.93

13.78 19.48 19.66 12.14 12.46

13.98 20.64 21.09 12.61 12.91

14.36 21.23 21.68 12.98 13.30

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

9.87 9.04 13.24 8.17 7.53 6.22 7.18 12.06

10.18 9.32 13.65 8.49 7.77 6.43 7.43 12.45

10.45 9.59 14.07 8.82 8.03 6.60 7.68 12.78

10.70 9.82 14.30 9.12 8.27 6.74 7.88 13.13

10.96 10.00 14.97 9.35 8.45 6.95 8.23 13.49

11.30 10.27 15.40 9.63 8.76 7.22 8.50 13.94

11.68 10.50 15.73 9.88 9.12 7.45 8.94 14.38

12.04 10.77 16.00 10.22 9.45 7.76 9.31 14.76

12.45 11.09 16.03 10.58 9.75 8.05 9.68 15.20

12.85 11.40 16.54 10.90 10.18 8.35 9.93 15.58

13.31 11.77 17.40 11.23 10.43 8.60 10.35 15.91

13.75 12.18 17.67 11.40 10.60 8.82 10.69 16.38

14.15 12.55 17.73 11.73 10.96 9.10 11.00 16.85

14.63 12.80 17.96 11.99 11.23 9.56 11.66 17.33

11.11 17.00 12.85 9.76

11.32 17.90 13.30 10.07

11.53 18.83 13.70 10.35

11.67 19.43 13.97 10.55

11.89 19.96 14.33 10.66

12.08 20.24 14.86 10.86

12.41 20.18 15.37 11.17

12.78 21.10 15.78 11.48

13.20 21.75 16.23 11.79

13.67 22.22 16.40 12.25

14.09 22.80 17.09 12.69

14.48 22.90 17.57 13.21

14.93 23.04 17.97 13.55

15.37 23.63 18.50 14.18

Private service–providing .....................

9.71

10.05

10.33

10.60

10.87

11.19

11.57

12.05

12.59

13.07

13.60

14.16

14.56

14.96

Trade, transportation, and utilities ...........

9.83

10.08

10.30

10.55

10.80

11.10

11.46

11.90

12.39

12.82

13.31

13.70

14.02

14.34

Wholesale trade ...................................

11.58

11.95

12.21

12.57

12.93

13.34

13.80

14.41

15.07

15.62

16.28

16.77

16.98

17.36

Retail trade ..........................................

7.71

7.89

8.12

8.36

8.61

8.85

9.21

9.59

10.05

10.45

10.86

11.29

11.67

11.90

Transportation and warehousing .........

12.50

12.61

12.77

12.71

12.84

13.18

13.45

13.78

14.12

14.55

15.05

15.33

15.76

16.25

Utilities .................................................

16.14

16.70

17.17

17.95

18.66

19.19

19.78

20.59

21.48

22.03

22.75

23.58

23.96

24.77

Information ...............................................

13.40

13.90

14.29

14.86

15.32

15.68

16.30

17.14

17.67

18.40

19.07

19.80

20.20

21.01

Financial activities ....................................

9.99

10.42

10.86

11.36

11.82

12.28

12.71

13.22

13.93

14.47

14.98

15.59

16.17

17.14

Professional and business services .........

11.14

11.50

11.78

11.96

12.15

12.53

13.00

13.57

14.27

14.85

15.52

16.33

16.81

17.21

Education and health services .................

10.00

10.49

10.87

11.21

11.50

11.80

12.17

12.56

13.00

13.44

13.95

14.64

15.21

15.64

Leisure and hospitality .............................

5.88

6.06

6.20

6.32

6.46

6.62

6.82

7.13

7.48

7.76

8.11

8.35

8.58

8.76

Other services ..........................................

9.08

9.39

9.66

9.90

10.18

10.51

10.85

11.29

11.79

12.26

12.73

13.27

13.72

13.84

1Derived

by assuming that overtime hours are paid at the rate of time and one-half.

329

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY Table 16-4. Average Hourly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry—Continued (Dollars.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November December

Total private ...........................................

15.67

15.48

15.51

15.54

15.58

15.62

15.64

15.70

15.74

15.77

15.81

15.82

15.85

Goods–producing ..................................

17.19

16.99

17.05

17.08

17.12

17.13

17.16

17.19

17.24

17.30

17.32

17.33

17.36

Natural resources and mining ..................

18.08

17.87

17.94

18.01

18.01

18.02

18.16

18.08

18.05

18.06

18.10

18.22

18.37

Construction .............................................

19.23

19.07

19.17

19.15

19.20

19.19

19.19

19.21

19.25

19.27

19.34

19.31

19.29

Manufacturing .......................................... Excluding overtime 1 ....................

16.14 15.29

15.94 15.11

15.98 15.15

16.01 15.16

16.07 15.23

16.08 15.23

16.12 15.28

16.16 15.30

16.22 15.36

16.29 15.42

16.27 15.42

16.29 15.43

16.34 15.48

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

16.82 13.03 16.25 18.57 15.31 16.68 17.28

16.62 ... ... ... ... ... ...

16.66 ... ... ... ... ... ...

16.69 ... ... ... ... ... ...

16.74 ... ... ... ... ... ...

16.75 ... ... ... ... ... ...

16.77 ... ... ... ... ... ...

16.83 ... ... ... ... ... ...

16.90 ... ... ... ... ... ...

16.98 ... ... ... ... ... ...

16.97 ... ... ... ... ... ...

16.99 ... ... ... ... ... ...

17.06 ... ... ... ... ... ...

14.90 21.49 21.71 13.16 13.85

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

15.05 12.98 19.12 12.13 11.39 9.75 11.63 17.90

14.86 ... ... ... ... ... ... ...

14.89 ... ... ... ... ... ... ...

14.93 ... ... ... ... ... ... ...

14.99 ... ... ... ... ... ... ...

15.02 ... ... ... ... ... ... ...

15.07 ... ... ... ... ... ... ...

15.09 ... ... ... ... ... ... ...

15.14 ... ... ... ... ... ... ...

15.18 ... ... ... ... ... ... ...

15.15 ... ... ... ... ... ... ...

15.16 ... ... ... ... ... ... ...

15.16 ... ... ... ... ... ... ...

15.72 24.38 19.16 14.58

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

Private service–providing .....................

15.26

15.08

15.10

15.13

15.17

15.21

15.24

15.30

15.34

15.36

15.40

15.42

15.45

Trade, transportation, and utilities ...........

14.59

14.44

14.48

14.46

14.52

14.54

14.59

14.63

14.65

14.66

14.69

14.70

14.72

Wholesale trade ...................................

17.66

17.52

17.53

17.51

17.59

17.60

17.66

17.71

17.69

17.73

17.78

17.80

17.87

Retail trade ..........................................

12.08

11.94

11.97

11.98

12.01

12.04

12.07

12.10

12.13

12.16

12.16

12.20

12.21

Transportation and warehousing .........

16.53

16.45

16.51

16.38

16.46

16.51

16.54

16.58

16.65

16.53

16.61

16.54

16.54

Utilities .................................................

25.62

25.27

25.36

25.38

25.61

25.51

25.48

25.60

25.66

25.82

26.00

25.77

26.11

Information ...............................................

21.42

21.17

21.23

21.22

21.31

21.43

21.28

21.42

21.52

21.62

21.59

21.58

21.70

Financial activities ....................................

17.53

17.36

17.35

17.40

17.45

17.47

17.49

17.55

17.57

17.64

17.71

17.65

17.71

Professional and business services .........

17.46

17.28

17.28

17.30

17.33

17.40

17.43

17.48

17.59

17.54

17.63

17.66

17.69

Education and health services .................

16.16

15.87

15.92

16.02

16.03

16.09

16.15

16.24

16.24

16.28

16.31

16.34

16.37

Leisure and hospitality .............................

8.91

8.83

8.87

8.87

8.86

8.87

8.86

8.89

8.91

8.95

8.99

9.02

9.01

Other services ..........................................

13.98

13.84

13.87

13.94

13.92

13.95

13.97

13.98

14.00

14.05

14.08

14.12

14.13

1Derived

by assuming that overtime hours are paid at the rate of time and one-half. . . . = Not available.

330

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-5. Average Weekly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (Dollars.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

349.29

358.06

367.83

378.40

390.73

399.53

412.74

431.25

448.04

462.49

480.41

493.20

506.07

517.30

Goods–producing ..................................

459.55

471.32

482.58

498.82

519.58

528.62

546.48

568.43

580.99

599.99

621.86

630.04

651.61

669.13

Natural resources and mining ..................

602.54

625.42

629.02

634.77

653.14

670.32

695.07

720.11

727.28

721.74

734.92

757.92

741.97

765.94

Construction .............................................

513.43

520.41

525.13

539.81

558.53

571.57

588.48

609.48

629.75

655.11

685.78

695.89

711.82

726.83

Manufacturing ..........................................

436.16

449.73

464.43

480.80

502.12

509.26

526.55

548.22

557.12

573.17

590.65

595.19

618.75

635.99

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

468.43 356.38 453.98 545.22 436.12 493.39 450.09

483.28 362.69 459.20 555.37 447.98 507.96 464.25

499.59 377.76 474.55 581.34 459.64 525.53 482.09

519.92 387.38 490.54 606.37 474.21 549.98 499.15

544.66 402.86 510.92 637.69 492.07 568.12 514.92

549.49 406.51 517.68 639.70 498.48 571.25 518.25

566.53 422.32 537.81 658.68 513.57 584.69 534.42

589.10 435.78 552.02 681.47 534.48 613.49 562.69

591.68 449.78 572.96 681.64 543.20 613.87 579.70

606.67 461.61 587.53 700.76 555.86 625.40 596.25

624.38 477.23 604.88 734.62 576.68 643.92 609.70

624.54 481.36 618.79 723.95 576.60 632.77 613.07

652.97 492.00 646.91 749.32 596.38 645.55 642.87

671.21 514.10 664.92 767.60 610.37 664.79 674.72

412.42 606.87 621.68 324.08 346.02

426.96 633.87 650.36 330.49 358.56

439.04 652.95 662.82 348.03 370.75

451.28 697.16 717.68 360.63 378.28

470.21 750.67 779.29 373.87 389.79

471.63 751.74 776.41 375.06 400.85

496.69 773.95 794.09 385.68 414.13

515.73 795.82 808.28 410.38 431.89

522.51 774.82 775.56 428.50 437.99

538.98 796.25 809.31 443.38 454.56

550.56 817.98 828.73 459.69 465.02

548.00 817.08 818.68 464.57 483.44

560.24 877.87 898.54 494.01 499.13

583.23 889.48 910.02 505.30 510.82

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

390.65 355.61 515.73 328.11 293.77 216.10 268.32 525.71

404.17 364.90 530.09 345.48 303.81 227.76 279.41 542.26

417.95 375.69 544.25 364.45 314.47 235.20 291.11 560.27

429.15 386.04 547.60 379.74 329.26 239.45 302.85 575.49

443.82 398.54 588.39 391.64 336.96 248.33 314.18 596.19

452.83 406.66 605.00 394.17 342.17 254.85 319.98 604.74

467.88 414.74 624.82 403.08 356.90 261.90 337.86 625.38

487.04 428.58 639.69 425.53 373.95 275.61 355.63 647.55

503.99 444.81 646.26 434.15 385.13 286.07 361.87 662.20

519.91 458.63 679.06 447.38 401.01 295.20 369.80 679.24

536.82 472.09 730.35 464.51 406.24 307.00 388.46 681.34

548.41 481.67 721.68 456.64 408.56 317.15 388.83 690.06

566.84 496.91 698.39 476.52 429.01 333.66 412.99 705.62

582.61 502.92 702.45 469.33 444.70 340.12 457.83 719.73

429.93 754.13 550.25 396.07

437.00 786.05 573.27 408.22

450.02 821.72 593.17 426.56

457.91 855.36 603.71 436.96

470.74 883.81 622.46 445.87

472.37 883.68 644.30 445.91

484.99 881.24 666.00 458.15

504.46 908.50 685.26 474.87

518.32 949.28 700.53 487.00

534.15 947.60 700.45 505.31

552.15 560.89 973.53 1 003.34 721.90 735.54 517.74 528.69

573.05 587.58 990.88 1 052.32 759.53 783.95 549.85 572.26

Private service–providing .....................

315.49

325.31

335.46

345.03

354.97

364.14

376.72

394.77

412.78

427.30

445.00

460.32

472.88

483.89

Trade, transportation, and utilities ...........

331.55

339.19

348.68

359.33

370.38

378.79

390.64

407.57

423.30

434.31

449.88

459.53

471.27

481.14

Wholesale trade ...................................

444.48

459.27

470.51

484.46

501.17

515.14

533.29

559.39

582.21

602.77

631.40

643.45

644.38

657.29

Retail trade ..........................................

235.62

240.15

249.63

256.89

265.77

272.56

282.76

295.97

310.34

321.63

333.38

346.16

360.81

367.15

Transportation and warehousing .........

471.72

471.12

478.02

494.36

507.27

513.37

525.60

542.55

546.86

547.97

562.31

562.70

579.75

598.41

Utilities .................................................

670.40

693.40

716.36

756.35

789.98

811.52

830.74

865.26

902.94

924.59

955.66

977.18

979.09 1 017.27

Information ...............................................

479.50

495.20

512.01

535.25

551.28

564.98

592.68

622.40

646.52

675.32

700.89

731.11

738.17

760.81

Financial activities ....................................

354.65

369.57

386.01

403.02

419.20

436.12

451.49

472.37

500.95

517.57

537.37

558.02

575.51

609.08

Professional and business services .........

380.61

391.09

400.64

406.20

414.16

426.44

442.81

465.51

490.00

510.99

535.07

557.84

574.66

587.02

Education and health services .................

319.27

334.55

348.29

359.08

368.14

377.73

388.27

404.65

418.82

431.35

449.29

473.39

492.74

505.69

Leisure and hospitality .............................

152.47

155.16

159.54

163.45

168.00

171.43

176.48

185.81

195.82

202.87

211.79

215.19

221.26

224.30

Other services ..........................................

297.91

306.91

315.08

322.69

332.44

342.36

352.62

368.63

384.25

398.77

413.41

428.64

439.76

434.41

331

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY Table 16-5. Average Weekly Earnings of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry—Continued (Dollars.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November

December

Total private ...........................................

528.56

523.22

524.24

523.70

525.05

527.96

525.50

529.09

530.44

533.03

534.38

533.13

534.15

Goods–producing ..................................

688.03

683.00

685.41

686.62

684.80

688.63

684.68

689.32

689.60

693.73

691.07

691.47

694.40

Natural resources and mining ..................

804.03

793.43

791.15

796.04

797.84

796.48

797.22

799.14

801.42

803.67

810.88

819.90

834.00

Construction .............................................

735.70

732.29

734.21

739.19

733.44

734.98

729.22

735.74

733.43

738.04

738.79

739.57

740.74

Manufacturing ..........................................

658.53

653.54

655.18

654.81

655.66

659.28

656.08

659.33

663.40

664.63

662.19

659.75

661.77

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

694.16 529.46 688.05 799.77 628.80 699.51 698.28

689.73 ... ... ... ... ... ...

691.39 ... ... ... ... ... ...

690.97 ... ... ... ... ... ...

691.36 ... ... ... ... ... ...

695.13 ... ... ... ... ... ...

690.92 ... ... ... ... ... ...

695.08 ... ... ... ... ... ...

697.97 ... ... ... ... ... ...

699.58 ... ... ... ... ... ...

699.16 ... ... ... ... ... ...

694.89 ... ... ... ... ... ...

701.17 ... ... ... ... ... ...

606.64 912.97 925.01 519.78 533.47

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

Nondurable goods ............................... 602.48 Food manufacturing ......................... 509.66 Beverages and tobacco products .... 750.51 Textile mills ...................................... 486.69 Textile product mills ......................... 443.01 Apparel ............................................ 351.28 Leather and allied products ............. 446.73 Paper and paper products ............... 753.89 Printing and related support activities ....................................... 604.32 Petroleum and coal products ........... 1 094.83 Chemicals ........................................ 819.59 Plastics and rubber products ........... 589.70

597.37 ... ... ... ... ... ... ...

600.07 ... ... ... ... ... ... ...

598.69 ... ... ... ... ... ... ...

599.60 ... ... ... ... ... ... ...

605.31 ... ... ... ... ... ... ...

604.31 ... ... ... ... ... ... ...

605.11 ... ... ... ... ... ... ...

608.63 ... ... ... ... ... ... ...

608.72 ... ... ... ... ... ... ...

604.49 ... ... ... ... ... ... ...

603.37 ... ... ... ... ... ... ...

603.37 ... ... ... ... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

488.59

489.24

488.70

491.51

492.80

490.73

495.72

497.02

499.20

498.96

498.07

500.58

Private service–providing .....................

493.67

Trade, transportation, and utilities ...........

488.58

485.18

487.98

485.86

487.87

488.54

484.39

488.64

490.78

492.58

493.58

492.45

494.59

Wholesale trade ...................................

666.93

664.01

666.14

665.38

668.42

665.28

664.02

669.44

666.91

670.19

670.31

671.06

671.91

Retail trade ..........................................

371.15

368.95

369.87

368.98

369.91

370.83

366.93

370.26

372.39

374.53

374.53

373.32

376.07

Transportation and warehousing .........

614.90

607.01

615.82

606.06

610.67

615.82

610.33

616.78

619.38

619.88

622.88

620.25

618.60

Utilities ................................................. 1 048.82 1 031.02 1 042.30 1 043.12 1 055.13 1 053.56 1 047.23 1 047.04 1 049.49 1 068.95 1 060.80 1 041.11 1 062.68 Information ...............................................

777.42

768.47

772.77

770.29

773.55

777.91

776.72

777.55

783.33

784.81

783.72

781.20

789.88

Financial activities ....................................

622.99

619.75

615.93

617.70

621.22

625.43

620.90

624.78

623.74

626.22

632.25

628.34

632.25

Professional and business services .........

596.96

589.25

592.70

589.93

592.69

595.08

592.62

597.82

603.34

608.64

604.71

603.97

605.00

Education and health services .................

523.83

514.19

515.81

517.45

519.37

521.32

523.26

529.42

527.80

529.10

530.08

529.42

532.03

Leisure and hospitality .............................

228.63

226.93

228.85

227.96

227.70

227.96

227.70

227.58

228.10

229.12

231.04

230.91

231.56

Other services ..........................................

433.04

430.42

431.36

433.53

432.91

433.85

431.67

433.38

434.00

435.55

435.07

436.31

435.20

. . . = Not available.

332

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-6. Indexes of Aggregate Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (2002 = 100.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

84.4

82.6

83.1

85.5

89.2

91.6

93.8

97.1

99.4

101.5

103.6

102.1

100.0

98.7

Goods–producing ..................................

106.1

100.1

98.7

100.8

105.6

106.8

108.1

111.2

112.3

112.6

113.1

106.6

100.0

95.8

Natural resources and mining ..................

128.6

123.8

113.3

110.3

111.0

110.2

112.7

117.6

112.8

102.9

105.1

108.3

100.0

97.4

Construction .............................................

78.8

70.1

67.5

71.3

77.3

79.9

84.3

88.6

93.4

99.7

104.0

103.2

100.0

98.4

Manufacturing ..........................................

117.7

112.8

112.4

113.9

118.3

119.0

118.8

121.4

121.0

118.9

117.7

108.1

100.0

94.5

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

114.2 101.5 100.8 131.5 104.7 123.9 137.2

107.6 92.6 92.8 122.9 99.1 116.3 128.1

106.4 95.2 92.6 120.8 97.3 113.9 122.9

108.2 100.5 94.2 121.4 99.7 118.6 121.1

114.2 109.1 98.8 128.0 106.3 127.0 123.5

116.3 109.3 99.7 129.3 109.9 132.3 127.1

117.5 111.6 101.5 129.9 111.6 133.8 129.9

121.6 114.8 103.2 132.3 116.6 139.0 136.8

122.0 117.5 105.8 131.1 118.6 137.4 136.7

120.6 118.6 106.9 128.4 116.7 129.9 131.1

120.4 115.8 109.1 128.9 119.1 127.6 133.0

109.3 105.0 106.1 113.0 109.3 114.1 117.9

100.0 100.0 100.0 100.0 100.0 100.0 100.0

94.3 97.8 94.3 93.4 95.3 93.6 92.1

136.0 111.1 90.9 97.2 104.0

128.0 105.8 87.9 89.5 103.8

125.9 104.4 91.1 92.1 105.2

126.8 105.5 97.9 95.3 106.9

132.5 112.6 110.6 100.5 108.2

130.3 115.4 115.9 99.3 107.7

129.4 116.4 116.1 98.3 107.7

127.7 120.7 117.5 102.9 110.0

127.8 118.7 112.8 108.5 110.3

128.3 119.5 118.7 112.6 110.3

127.8 116.4 117.3 114.8 109.5

113.4 105.3 103.6 104.8 104.8

100.0 100.0 100.0 100.0 100.0

92.0 95.4 95.9 93.0 93.6

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

123.0 96.2 96.9 170.4 110.3 267.4 290.0 121.8

120.8 96.6 96.4 168.4 104.5 264.2 268.9 120.6

121.7 97.3 95.4 170.3 106.0 267.5 263.5 121.7

122.6 98.7 95.6 170.8 110.6 259.4 259.1 121.9

124.7 100.5 98.7 171.6 116.6 252.6 246.9 123.5

123.1 101.6 97.9 163.5 114.4 235.4 221.8 121.4

120.5 101.8 101.4 154.1 112.8 211.9 197.5 120.1

120.9 102.6 103.1 155.2 114.8 201.4 187.1 121.5

119.4 103.4 104.9 148.9 114.1 181.2 166.6 119.5

116.1 103.8 104.7 139.1 113.5 154.7 148.3 117.1

113.3 103.5 104.2 132.4 111.1 137.4 138.4 113.4

106.0 101.5 100.3 112.2 105.0 117.1 113.3 106.6

100.0 100.0 100.0 100.0 100.0 100.0 100.0 100.0

94.7 98.4 88.4 86.3 92.9 81.9 91.3 92.4

122.3 128.9 118.2 97.7

118.7 127.5 115.0 94.2

118.4 126.0 112.9 98.1

120.3 122.0 113.4 102.4

123.8 120.0 115.1 108.8

123.9 115.5 115.4 109.9

122.8 113.5 114.7 110.1

124.6 112.7 114.6 112.7

124.3 113.4 115.4 113.8

120.9 107.6 113.1 114.6

119.4 105.8 110.4 114.3

111.5 105.6 104.7 105.0

100.0 100.0 100.0 100.0

95.3 98.7 98.9 95.2

Private service–providing .....................

78.3

77.8

78.8

81.2

84.6

87.3

89.7

93.1

95.8

98.4

101.0

100.8

100.0

99.5

Trade, transportation, and utilities ...........

89.5

87.4

87.3

89.0

92.7

95.1

96.6

98.8

100.3

101.9

103.5

101.5

100.0

98.6

Wholesale trade ...................................

94.9

93.3

92.4

92.4

95.8

99.2

100.7

103.4

104.8

106.2

107.1

102.9

100.0

98.0

Retail trade ..........................................

87.5

84.8

85.1

86.3

89.8

92.3

93.7

95.9

97.2

99.5

101.3

100.5

100.0

98.9

Transportation and warehousing .........

83.5

82.4

82.7

88.4

93.8

95.6

98.3

101.0

102.7

103.2

105.6

102.8

100.0

98.8

Utilities .................................................

124.3

123.5

121.6

119.9

117.1

112.9

108.6

106.1

105.8

105.0

104.2

102.4

100.0

97.4

Information ...............................................

76.2

76.1

76.5

78.0

79.2

82.5

86.9

90.4

92.6

98.5

104.9

106.6

100.0

97.0

Financial activities ....................................

84.5

83.3

83.5

85.9

88.0

87.8

89.8

92.6

96.5

98.0

98.5

99.5

100.0

101.5

Professional and business services .........

68.1

66.7

68.4

71.9

77.0

81.2

85.2

91.5

96.7

101.7

106.6

104.0

100.0

98.7

Education and health services .................

67.2

70.2

72.9

75.4

78.3

81.2

83.4

86.7

88.9

90.6

92.8

96.6

100.0

101.4

Leisure and hospitality .............................

78.9

77.3

79.3

82.2

85.6

88.5

90.8

93.4

95.5

97.9

100.6

100.7

100.0

100.1

Other services ..........................................

81.8

81.2

80.6

82.8

84.5

87.1

89.1

91.9

94.3

96.3

97.8

99.1

100.0

97.5

333

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY Table 16-6. Indexes of Aggregate Weekly Hours of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry—Continued (2002 = 100.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November

December

Total private ...........................................

100.3

99.3

99.4

99.3

99.7

100.3

99.9

100.3

100.5

100.9

101.2

101.1

101.2

Goods–producing ..................................

96.8

96.1

96.1

96.4

96.4

97.2

96.5

97.1

97.1

97.4

97.2

97.1

97.5

Natural resources and mining ..................

104.1

100.3

99.6

101.9

103.3

103.8

102.6

104.1

105.2

105.9

105.9

107.6

109.0

Construction .............................................

101.5

99.9

99.9

101.2

100.7

101.3

100.6

101.7

101.4

102.1

103.0

103.2

104.0

Manufacturing ..........................................

94.4

94.3

94.2

94.1

94.2

95.0

94.3

94.6

95.1

94.7

94.4

93.9

93.9

Durable goods ..................................... Wood products ................................. Nonmetallic mineral products .......... Primary metals ................................. Fabricated metal products ............... Machinery ........................................ Computer and electronic products ... Electrical equipment and appliances .................................... Transportation equipment ................ Motor vehicles and parts .............. Furniture and related products ......... Miscellaneous manufacturing ..........

95.1 100.6 97.9 93.2 97.8 95.9 90.0

94.7 99.6 97.0 92.8 96.2 93.7 89.4

94.7 100.6 95.7 92.5 96.5 94.2 89.6

94.7 100.2 96.7 92.6 96.5 94.3 89.2

94.9 100.3 97.0 93.1 97.0 95.3 89.3

95.7 102.0 97.7 93.9 98.1 96.3 90.2

95.2 100.8 97.1 94.4 97.7 96.2 89.9

95.3 101.2 98.3 94.0 98.5 96.8 91.7

95.9 101.7 98.6 93.8 98.7 97.5 91.2

95.5 100.6 99.2 93.3 98.8 97.5 91.0

95.5 101.0 99.1 93.3 98.8 97.2 90.3

94.8 100.0 98.2 93.0 98.4 96.6 88.9

95.3 101.1 98.3 92.6 98.4 96.5 89.7

89.1 96.3 96.7 94.1 91.8

90.5 96.9 97.9 94.4 93.0

88.9 97.2 98.1 93.6 92.4

88.5 96.9 97.9 94.3 92.0

88.8 96.4 96.9 94.6 91.4

90.2 97.1 97.6 95.6 92.6

89.0 95.7 96.2 94.6 91.7

89.1 94.6 94.4 94.0 92.2

89.9 96.9 97.6 93.8 91.7

89.0 96.3 96.6 93.6 91.3

88.5 96.1 96.1 93.2 91.1

88.1 95.6 95.3 93.1 90.9

87.5 96.4 96.4 93.6 90.9

Nondurable goods ............................... Food manufacturing ......................... Beverages and tobacco products .... Textile mills ...................................... Textile product mills ......................... Apparel ............................................ Leather and allied products ............. Paper and paper products ............... Printing and related support activities ....................................... Petroleum and coal products ........... Chemicals ........................................ Plastics and rubber products ...........

93.0 97.4 88.7 79.5 92.0 75.0 85.9 89.9

93.4 97.7 87.6 81.3 91.3 77.0 86.8 90.1

93.5 97.7 86.8 80.7 92.5 78.0 86.6 89.9

93.1 97.1 87.1 81.3 91.3 77.7 86.4 89.4

93.1 97.3 88.3 79.6 91.9 76.9 86.2 89.9

93.9 98.4 87.9 80.3 93.4 76.5 85.6 91.1

93.2 97.8 88.1 80.4 91.3 74.9 85.4 88.9

93.5 98.0 88.7 80.4 91.6 74.3 85.2 90.7

93.5 97.6 89.5 80.0 91.9 75.1 84.2 90.9

93.2 97.4 89.7 78.8 92.7 74.6 84.4 90.0

92.6 96.6 88.1 78.1 92.8 72.4 86.4 89.7

92.3 97.0 90.5 77.3 93.3 70.8 87.7 89.5

92.0 96.7 91.0 76.2 92.1 70.9 85.0 89.2

93.7 103.6 98.9 94.3

94.5 99.1 98.7 94.6

94.2 98.9 99.6 94.8

93.6 98.2 99.2 94.5

93.6 100.3 99.4 94.8

94.2 103.0 99.3 95.3

94.4 104.3 98.6 95.2

94.2 105.1 99.3 94.9

93.8 108.0 99.6 94.6

93.1 108.6 99.5 94.2

93.2 106.3 99.3 93.8

93.3 107.8 98.0 92.4

93.5 104.7 97.8 92.8

Private service–providing .....................

101.2

100.1

100.2

100.2

100.9

101.1

100.7

101.5

101.6

102.1

102.1

102.0

102.5

Trade, transportation, and utilities ...........

99.4

98.9

99.3

99.3

99.5

99.7

98.6

99.3

99.6

100.1

100.2

100.2

100.4

Wholesale trade ...................................

98.7

97.8

98.1

98.4

98.7

98.6

98.1

98.9

98.9

99.4

99.3

99.5

99.4

Retail trade ..........................................

99.3

99.2

99.4

99.4

99.4

99.5

98.4

99.0

99.3

99.6

99.8

99.3

99.9

Transportation and warehousing .........

101.9

99.6

100.7

100.5

100.9

101.8

101.1

102.0

102.0

103.5

103.9

104.2

103.8

Utilities .................................................

95.3

95.7

96.1

95.9

96.4

96.6

95.8

95.2

94.7

96.0

94.5

93.8

94.7

Information ...............................................

99.0

96.6

97.2

97.0

98.0

98.6

99.7

99.4

100.0

99.9

100.3

100.0

101.3

Financial activities ....................................

102.1

101.8

101.2

101.2

101.6

102.5

102.0

102.2

102.1

102.4

103.2

103.1

103.6

Professional and business services .........

101.9

99.4

100.1

99.9

101.1

101.7

101.3

102.3

102.8

104.5

103.9

103.7

103.9

Education and health services .................

103.3

102.3

102.3

102.1

102.7

102.9

103.1

103.9

103.9

103.9

104.3

104.1

104.7

Leisure and hospitality .............................

102.9

101.8

102.4

102.4

102.8

102.9

103.1

102.8

102.9

103.0

103.7

103.6

104.2

Other services ..........................................

96.5

96.3

96.1

96.5

96.7

96.8

96.5

96.6

96.9

96.8

96.5

96.7

96.6

334

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 16-7. Indexes of Aggregate Weekly Payrolls of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry (2002 = 100.)

Industry

1990

1991

1992

1993

1994

1995

1996

1997

1998

1999

2000

2001

2002

2003

Total private ...........................................

57.5

58.0

59.8

63.1

67.6

71.3

75.4

81.1

86.5

91.4

97.0

99.2

100.0

101.4

Goods–producing ..................................

74.5

72.1

72.4

75.8

81.7

84.8

88.6

94.1

97.9

101.4

105.7

103.0

100.0

98.5

Natural resources and mining ..................

100.2

99.5

92.8

90.6

93.0

94.8

99.0

106.5

106.3

97.8

101.2

107.1

100.0

99.5

Construction .............................................

57.1

51.7

50.3

54.1

60.0

63.6

68.8

74.9

81.8

90.4

98.2

100.3

100.0

100.7

Manufacturing ..........................................

82.9

82.1

83.8

87.1

93.2

96.1

99.0

104.3

106.4

107.7

110.2

104.3

100.0

97.3

Durable goods .....................................

81.3

79.3

80.3

83.9

91.1

94.7

98.7

105.0

107.1

108.9

112.2

104.9

100.0

96.9

Nondurable goods ...............................

85.7

86.9

89.9

92.7

96.6

98.3

99.4

102.9

105.1

105.5

106.6

103.0

100.0

97.9

Private service–providing .....................

52.2

53.7

55.9

59.1

63.2

67.1

71.3

77.1

82.8

88.3

94.3

98.1

100.0

102.2

Trade, transportation, and utilities ...........

62.8

62.9

64.2

67.0

71.4

75.3

79.0

83.9

88.6

93.2

98.3

99.2

100.0

100.9

Wholesale trade ...................................

64.7

65.7

66.4

68.4

73.0

77.9

81.8

87.8

93.0

97.7

102.7

101.7

100.0

100.2

Retail trade ..........................................

57.8

57.4

59.2

61.9

66.3

70.0

74.0

78.8

83.8

89.1

94.3

97.3

100.0

100.8

Transportation and warehousing .........

66.3

65.9

67.0

71.3

76.4

79.9

83.8

88.3

92.0

95.3

100.8

99.9

100.0

101.8

Utilities .................................................

83.7

86.1

87.1

89.9

91.2

90.4

89.7

91.2

94.9

96.6

99.0

100.7

100.0

100.7

Information ...............................................

50.5

52.3

54.1

57.3

60.0

64.1

70.2

76.7

81.0

89.7

99.1

104.5

100.0

100.9

Financial activities ....................................

52.2

53.7

56.1

60.3

64.3

66.7

70.5

75.7

83.1

87.7

91.2

95.9

100.0

107.5

Professional and business services .........

45.1

45.6

47.9

51.2

55.7

60.5

65.9

73.8

82.1

89.8

98.4

101.1

100.0

101.1

Education and health services .................

44.1

48.4

52.1

55.5

59.2

63.0

66.8

71.6

76.0

80.1

85.1

92.9

100.0

104.2

Leisure and hospitality .............................

54.1

54.7

57.3

60.5

64.5

68.4

72.1

77.7

83.2

88.6

95.2

98.1

100.0

102.2

Other services ..........................................

54.1

55.5

56.8

59.8

62.7

66.7

70.4

75.6

81.0

86.0

90.8

95.8

100.0

98.3

CHAPTER 16: EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY

335

Table 16-7. Indexes of Aggregate Weekly Payrolls of Production or Nonsupervisory Workers on Private Nonfarm Payrolls by NAICS Industry—Continued (2002 = 100.) 2004, seasonally adjusted Industry

2004 January

February

March

April

May

June

July

August

September

October

November December

Total private ...........................................

105.1

102.8

103.1

103.3

104.0

104.8

104.5

105.4

105.8

106.5

107.1

107.0

107.4

Goods–producing ..................................

101.9

100.0

100.4

100.9

101.0

101.9

101.4

102.2

102.5

103.1

103.1

103.1

103.7

Natural resources and mining ..................

109.4

104.2

103.9

106.8

108.3

108.8

108.4

109.4

110.5

111.3

111.5

114.0

116.5

Construction .............................................

105.4

102.9

103.4

104.7

104.4

105.0

104.2

105.5

105.4

106.2

107.5

107.6

108.3

Manufacturing ..........................................

99.7

98.3

98.5

98.6

99.0

99.9

99.4

100.0

100.9

100.9

100.5

100.1

100.3

Durable goods .....................................

99.9

98.3

98.5

98.6

99.2

100.1

99.6

100.2

101.2

101.3

101.2

100.5

101.5

Nondurable goods ...............................

98.9

98.1

98.3

98.2

98.6

99.6

99.3

99.7

100.1

99.9

99.1

98.9

98.6

Private service–providing .....................

106.1

103.7

103.9

104.1

105.1

105.7

105.5

106.6

107.1

107.8

108.0

108.0

108.8

Trade, transportation, and utilities ...........

103.5

101.9

102.6

102.4

103.0

103.4

102.7

103.6

104.1

104.7

105.1

105.1

105.5

Wholesale trade ...................................

102.7

101.0

101.3

101.5

102.3

102.2

102.1

103.2

103.0

103.8

104.0

104.4

104.7

Retail trade ..........................................

102.8

101.6

102.0

102.0

102.3

102.7

101.8

102.6

103.3

103.9

104.0

103.9

104.5

Transportation and warehousing .........

106.9

103.9

105.5

104.4

105.4

106.6

106.1

107.3

107.8

108.5

109.5

109.3

108.9

Utilities .................................................

101.9

100.9

101.7

101.6

103.1

102.8

101.9

101.8

101.5

103.5

102.5

100.9

103.2

Information ...............................................

104.9

101.2

102.2

101.9

103.4

104.6

105.0

105.4

106.5

106.9

107.2

106.8

108.8

Financial activities ....................................

110.6

109.2

108.5

108.9

109.7

110.7

110.3

110.9

110.9

111.7

113.0

112.5

113.5

Professional and business services .........

105.9

102.3

102.9

102.8

104.3

105.3

105.1

106.4

107.6

109.0

109.0

108.9

109.4

Education and health services .................

109.7

106.7

107.1

107.6

108.3

108.9

109.5

110.9

110.9

111.2

111.8

111.8

112.6

Leisure and hospitality .............................

106.9

104.8

105.9

105.9

106.2

106.5

106.5

106.6

106.9

107.5

108.7

109.0

109.4

Other services ..........................................

98.3

97.1

97.2

98.0

98.0

98.4

98.2

98.4

98.9

99.1

99.0

99.5

99.5

336

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 16-1 THROUGH 16-7 EMPLOYMENT, HOURS, AND EARNINGS BY NAICS INDUSTRY See the notes and definitions for Tables 10–7 through 10–12 regarding definitions of employment, production or nonsupervisory workers, average weekly hours, overtime hours, average hourly earnings, average weekly earnings, and the indexes of aggregate weekly hours.

Indexes of aggregate weekly payrolls for private nonfarm production or nonsupervisory workers are calculated at the basic industry level as the product of average hourly earnings and aggregate weekly hours. At higher levels, payroll aggregates are the sum of the component aggregates. Index levels are calculated by dividing the current month’s aggregate by the average of the 12 monthly figures for 2002. See Chapter 14 for information on the NAICS.

CHAPTER 17: KEY SECTOR STATISTICS

Figure 17-1. New Orders for Durable Goods, 1959–2004 (ratio scale) 2,980

Billions of dollars

1,480

740

370

180

1959

1964

1969

1974

1979

1984

1989

1994

1999

2004

Year

• The value of new orders for durable goods at U.S. manufacturing firms is a sensitive indicator of the business cycle, as shown in the graph above. From 2000 to 2002, the annual average of new orders dropped 13 percent, exceeding the severe decline from 1974 to 1975. By 2004, however, orders had recovered to near the 2000 level. (Table 17-6) • Compared with 2000, order backlogs for nondefense capital goods were reduced, but backlogs at defense manufacturers were up 20 percent. (Table 17-7) • As a percentage of the total supply of petroleum and products (domestic crude oil and natural gas liquids production plus net imports), net imports rose from 5.5 percent in 1949 to 62.6 percent in 2004. (Table 17-1) • For the housing sector, 2004 was the best year since 1978. Nearly 2 million units were started, of which 1.6 million were single-family structures. Sales of new houses were the highest on record. The price index for a constant-quality new house rose 7.6 percent, but the median sales price for new houses rose 13 percent, reflecting the trend toward bigger and more elaborate houses. (Table 17-3) • Sales of cars and light trucks in 2004 were 2.7 percent below the high in 2000. Domestic unit sales were down 7.0 percent, while imports rose 18.8 percent. Sales of “light trucks” (a category which includes sport utility and similar vehicles) were 22.9 percent of total car and light truck sales in 1976, but rose to a 55.5 percent share in 2004. (Table 17-8) • Sales by electronic shopping and mail-order grew from 2.0 percent of total retail sales in 1992 to 4.2 percent in 2004. (Table 17-9) • Service industry revenues rose 29.3 percent from 1998 to 2003. This growth was surpassed only by the construction industry group, where the value put in place was up 31.0 percent. Wholesale sales were up 20.7 percent, retail and food service 27.4 percent, and manufacturers’ shipments only 2.0 percent. (Tables 17-2, 17-4, 17-9, 17-11, and 17-14) • E-commerce accounts for only 1.0 of total revenues for surveyed service industries as a whole, despite making up one-quarter of the travel and reservation business. (Table 17-15)

337

338

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-1. Petroleum and Petroleum Products—Prices, Imports, Domestic Production, and Stocks (Not seasonally adjusted.) Crude oil futures price (dollars per barrel) Year and month Current dollars

2000 dollars

Imports Total energyrelated petroleum products (thousands of barrels)

Supply (thousands of barrels per day)

Crude petroleum

Petroleum and products

Stocks (end of period, millions of barrels)

Domestic production Crude petroleum

Thousands of barrels Total

Average per day

Unit price (dollars per barrel)

Exports

Imports

Net imports

Crude oil

Natural gas plant liquids

Crude oil and petroleum products

Total

Strategic petroleum reserve

1949 ............................

...

...

...

...

...

...

327

645

318

5 046

430

603

253

0

1950 1951 1952 1953 1954

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

305 422 432 402 355

850 844 952 1 034 1 052

545 422 520 632 697

5 407 6 158 6 256 6 458 6 342

499 561 611 654 691

583 634 674 726 715

248 256 272 274 258

0 0 0 0 0

1955 1956 1957 1958 1959

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

368 430 568 276 211

1 248 1 436 1 574 1 700 1 780

880 1 006 1 006 1 424 1 569

6 807 7 151 7 170 6 710 7 054

771 800 808 808 879

715 780 841 789 809

266 266 282 263 257

0 0 0 0 0

1960 1961 1962 1963 1964

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

202 174 168 208 202

1 815 1 917 2 082 2 123 2 259

1 613 1 743 1 914 1 915 2 057

7 035 7 183 7 332 7 542 7 614

929 991 1 021 1 098 1 154

785 825 834 836 839

240 245 252 237 230

0 0 0 0 0

1965 1966 1967 1968 1969

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

187 198 307 231 233

2 468 2 573 2 537 2 840 3 166

2 281 2 375 2 230 2 609 2 933

7 804 8 295 8 810 9 096 9 238

1 210 1 284 1 409 1 504 1 590

836 874 944 1 000 980

220 238 249 272 265

0 0 0 0 0

1970 1971 1972 1973 1974

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... 1 392 970 1 367 081

... ... ... 3 816 3 745

... ... ... 3.30 11.17

259 224 222 231 221

3 419 3 926 4 741 6 256 6 112

3 160 3 702 4 519 6 025 5 891

9 637 9 463 9 441 9 208 8 774

1 660 1 693 1 744 1 738 1 688

1 018 1 044 959 1 008 1 074

276 260 246 242 265

0 0 0 0 0

1975 1976 1977 1978 1979

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1 584 730 2 050 424 2 519 806 2 392 350 2 467 315

4 342 5 618 6 904 6 554 6 760

11.59 12.43 13.33 13.43 18.68

209 223 243 362 471

6 056 7 313 8 807 8 363 8 456

5 847 7 090 8 564 8 001 7 985

8 375 8 132 8 245 8 707 8 552

1 633 1 604 1 618 1 567 1 584

1 133 1 112 1 312 1 278 1 341

271 285 348 376 430

0 0 7 67 91

1980 1981 1982 1983 1984

............................ ............................ ............................ ............................ ............................

... ... ... 30.66 29.44

... ... ... 49.11 45.44

... ... ... ... ...

1 977 247 1 763 072 1 420 753 1 293 819 1 319 683

5 417 4 830 3 892 3 545 3 616

31.36 35.13 33.39 29.51 27.68

544 595 815 739 722

6 909 5 996 5 113 5 051 5 437

6 365 5 401 4 298 4 312 4 715

8 597 8 572 8 649 8 688 8 879

1 573 1 609 1 550 1 559 1 630

1 392 1 484 1 430 1 454 1 556

466 594 644 723 796

108 230 294 379 451

1985 1986 1987 1988 1989

............................ ............................ ............................ ............................ ............................

27.89 15.05 19.15 15.96 19.58

41.67 21.95 26.99 21.64 25.44

... ... ... ... ...

1 260 856 1 634 567 1 744 977 1 887 860 2 146 552

3 454 4 478 4 781 5 172 5 881

26.20 13.90 16.80 13.69 16.49

781 785 764 815 859

5 067 6 224 6 678 7 402 8 061

4 286 5 439 5 914 6 587 7 202

8 971 8 680 8 349 8 140 7 613

1 609 1 551 1 595 1 625 1 546

1 519 1 593 1 607 1 597 1 581

814 843 890 890 921

493 512 541 560 580

1990 1991 1992 1993 1994

............................ ............................ ............................ ............................ ............................

24.50 21.50 20.58 18.48 17.19

30.44 25.77 23.98 21.05 19.17

... 2 828 953 2 947 582 3 257 008 3 416 045

2 216 604 2 146 064 2 294 570 2 543 374 2 704 196

6 073 5 880 6 269 6 968 7 409

19.75 17.46 16.80 15.13 14.23

857 1 001 950 1 003 942

8 018 7 627 7 888 8 620 8 996

7 161 6 626 6 938 7 617 8 054

7 355 7 417 7 171 6 847 6 662

1 559 1 659 1 697 1 736 1 727

1 621 1 617 1 592 1 647 1 653

908 893 893 922 929

586 569 575 587 592

1995 1996 1997 1998 1999

............................ ............................ ............................ ............................ ............................

18.40 22.03 20.61 14.40 19.30

20.09 23.55 21.67 15.00 19.78

3 361 882 3 622 385 3 802 574 4 088 027 4 081 181

2 767 312 2 893 647 3 069 430 3 242 711 3 228 092

7 582 7 906 8 409 8 884 8 844

15.81 18.98 17.67 11.49 15.76

949 981 1 003 945 940

8 835 9 478 10 162 10 708 10 852

7 886 8 497 9 159 9 763 9 912

6 560 6 465 6 452 6 252 5 881

1 762 1 830 1 817 1 759 1 850

1 563 1 507 1 560 1 647 1 493

895 850 868 895 852

592 566 563 571 567

2000 2001 2002 2003 2004

............................ ............................ ............................ ............................ ............................

30.26 25.95 26.15 30.99 41.47

30.26 25.42 25.26 29.37 38.31

4 314 825 4 475 026 4 337 075 4 654 638 4 917 591

3 399 239 3 471 067 3 418 021 3 676 006 3 820 979

9 288 9 510 9 364 10 071 10 440

26.44 21.40 22.61 26.98 34.48

1 040 971 984 1 027 1 048

11 459 11 871 11 530 12 264 13 145

10 419 10 900 10 546 11 238 12 097

5 822 5 801 5 746 5 681 5 419

1 911 1 868 1 880 1 719 1 809

1 468 1 586 1 550 1 568 1 645

826 862 877 907 961

541 550 599 638 676

2003 January .................... February .................. March ...................... April ......................... May .......................... June .........................

32.70 35.73 33.16 28.14 28.07 30.52

31.27 34.01 31.43 26.73 26.69 29.00

362 626 320 153 390 535 399 601 406 979 402 804

273 338 250 262 294 768 318 088 319 111 312 982

8 817 8 938 9 509 10 603 10 294 10 433

27.76 30.37 30.39 26.01 24.05 25.50

1 212 1 067 1 051 1 053 1 097 1 065

11 104 10 921 12 044 12 599 12 918 13 001

9 892 9 854 10 993 11 547 11 822 11 936

5 785 5 791 5 817 5 774 5 733 5 701

1 758 1 812 1 729 1 701 1 564 1 582

1 504 1 460 1 474 1 496 1 533 1 560

873 870 881 891 889 893

599 599 599 600 603 609

July .......................... August ..................... September ............... October .................... November ................ December ................

30.70 31.60 28.31 30.34 31.06 32.14

29.12 29.88 26.70 28.62 29.31 30.26

422 313 398 306 393 522 404 183 364 670 388 945

335 511 319 674 316 796 329 992 291 352 314 131

10 823 10 312 10 560 10 645 9 712 10 133

26.75 27.56 26.43 26.28 26.54 27.17

976 947 960 970 933 990

12 736 12 769 12 868 12 373 11 712 12 033

11 760 11 822 11 908 11 402 10 780 11 043

5 526 5 595 5 683 5 635 5 560 5 579

1 649 1 703 1 761 1 818 1 839 1 723

1 570 1 572 1 598 1 602 1 598 1 568

897 898 911 926 915 907

612 618 624 631 634 638

2004 January .................... February .................. March ...................... April ......................... May .......................... June .........................

34.22 34.50 36.72 36.62 40.28 38.05

32.07 32.22 34.17 34.01 37.24 35.09

395 226 380 038 429 420 393 788 398 862 432 235

309 876 288 494 329 991 311 663 317 854 344 729

9 996 9 948 10 645 10 389 10 253 11 491

28.57 29.17 30.66 31.00 33.14 33.74

748 1 046 1 024 1 153 1 052 1 070

12 014 12 658 13 349 12 883 13 375 13 561

11 266 11 612 12 325 11 730 12 323 12 491

5 570 5 556 5 607 5 526 5 548 5 398

1 802 1 799 1 828 1 783 1 780 1 738

1 556 1 557 1 571 1 580 1 610 1 631

913 931 949 962 966 967

641 647 652 658 661 662

July .......................... August ..................... September ............... October .................... November ................ December ................

40.81 44.88 45.94 53.09 48.48 43.26

37.65 41.38 42.30 48.64 44.31 39.54

414 258 437 516 377 861 408 187 439 794 410 406

324 108 333 756 297 013 313 249 329 660 320 586

10 455 10 766 9 900 10 105 10 989 10 341

33.38 36.54 37.52 41.84 41.19 36.46

1 080 1 091 961 1 078 992 1 284

13 570 13 689 12 676 13 438 13 409 13 088

12 490 12 598 11 715 12 360 12 417 11 804

5 458 5 333 5 062 5 156 5 396 5 413

1 812 1 863 1 797 1 820 1 868 1 817

1 646 1 654 1 642 1 637 1 656 1 645

960 948 943 957 961 961

666 669 670 670 673 676

. . . = Not available.

CHAPTER 17: KEY SECTOR STATISTICS

339

Table 17-2. New Construction Put in Place (Billions of dollars, monthly data are at seasonally adjusted annual rates.) Private Commercial Year and month

Total Total 1

Residential

Office Total 1

1964 .......................................

Multi-retail

Health care

Educational

Amusement and recreation

Transportation

Communication

Power

Manufacturing

75.1

54.9

30.5

...

...

...

...

...

...

...

...

...

...

1965 1966 1967 1968 1969

....................................... ....................................... ....................................... ....................................... .......................................

81.9 85.8 87.2 96.8 104.9

60.0 61.9 61.8 69.4 77.2

30.2 28.6 28.7 34.2 37.2

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

....................................... ....................................... ....................................... ....................................... .......................................

105.9 122.4 139.1 153.8 155.2

78.0 92.7 109.1 121.4 117.0

35.9 48.5 60.7 65.1 56.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

....................................... ....................................... ....................................... ....................................... .......................................

152.6 172.1 200.5 239.9 272.9

109.3 128.2 157.4 189.7 216.2

51.6 68.3 92.0 109.8 116.4

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

....................................... ....................................... ....................................... ....................................... .......................................

273.9 289.1 279.3 311.9 370.2

210.3 224.4 216.3 248.4 300.0

100.4 99.2 84.7 125.8 155.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

....................................... ....................................... ....................................... ....................................... .......................................

403.4 433.5 446.6 462.0 477.5

325.6 348.9 356.0 367.3 379.3

160.5 190.7 199.7 204.5 204.3

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1990 1991 1992 1993 1994

....................................... ....................................... ....................................... ....................................... .......................................

476.8 432.6 463.7 491.0 539.2

369.3 322.5 347.8 375.1 419.0

191.1 166.3 199.4 225.1 258.6

... ... ... 20.0 20.4

... ... ... 34.4 39.6

... ... ... 11.5 12.2

... ... ... 14.9 15.4

... ... ... 4.8 5.0

... ... ... 4.6 5.1

... ... ... 4.7 4.7

... ... ... 9.8 10.1

... ... ... 23.6 21.0

... ... ... 23.4 28.8

1995 1996 1997 1998 1999

....................................... ....................................... ....................................... ....................................... .......................................

557.8 615.9 653.4 706.3 769.5

427.9 476.6 502.7 552.0 599.7

247.4 281.1 289.0 314.6 350.6

23.0 26.5 32.8 40.4 45.1

44.1 49.4 53.1 55.7 59.4

12.0 13.3 12.2 13.3 15.2

15.3 15.4 17.4 17.7 18.4

5.7 7.0 8.8 9.8 9.8

5.9 7.0 8.5 8.6 9.6

4.8 5.8 6.2 7.3 6.5

11.1 11.8 12.5 12.5 18.4

22.0 17.4 16.4 21.7 22.0

35.4 38.1 37.6 40.5 35.1

2000 2001 2002 2003 2004

....................................... ....................................... ....................................... ....................................... .......................................

835.3 868.3 876.8 925.1 1 027.0

649.8 662.2 659.7 701.6 798.5

374.5 388.3 421.9 475.9 563.4

52.4 49.7 35.3 30.6 33.1

64.1 63.6 59.0 57.2 61.6

14.9 16.4 15.6 15.4 18.3

19.5 19.5 22.4 24.2 26.7

11.7 12.8 13.1 13.4 12.7

8.8 7.8 7.5 7.8 8.6

6.9 7.1 6.8 6.3 6.6

18.8 19.6 18.4 12.7 13.4

29.3 31.5 32.6 32.3 27.7

37.6 37.8 22.7 21.4 23.5

2002 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

870.0 874.5 871.1 877.8 876.1 871.2

650.1 652.8 660.8 666.4 658.7 656.3

386.4 396.1 408.5 416.0 417.1 421.0

40.2 38.9 37.1 37.2 35.7 35.2

64.0 62.2 63.3 61.5 59.3 57.8

17.6 16.8 16.0 17.1 15.3 15.1

20.9 20.9 21.0 21.6 22.1 23.1

13.6 13.6 13.7 13.9 13.7 12.8

7.8 7.9 7.5 7.6 7.6 7.7

6.5 6.4 6.9 6.9 6.9 7.0

18.8 19.8 19.1 18.9 18.5 19.2

42.4 40.7 38.7 36.8 33.3 29.9

28.1 25.8 24.8 24.3 23.7 23.0

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

864.5 869.2 874.0 886.4 887.4 895.4

648.1 652.3 656.5 668.2 668.3 669.8

418.7 424.9 431.9 439.7 439.6 447.3

34.7 34.2 33.8 32.9 33.1 31.7

55.6 57.6 58.5 58.1 57.4 54.7

14.3 15.1 15.8 15.0 15.4 14.3

22.8 23.1 23.0 23.7 23.7 23.3

12.5 12.4 12.6 13.0 13.4 12.7

7.5 7.5 7.2 7.6 6.9 6.9

6.7 7.2 6.9 6.7 6.6 6.5

18.7 17.9 16.9 17.8 17.1 18.2

30.0 27.6 26.4 28.8 30.7 29.4

21.9 20.7 20.0 20.7 20.8 20.2

2003 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

895.5 892.6 885.7 894.0 903.2 917.6

672.3 671.1 669.9 675.4 681.5 691.5

448.2 449.7 446.6 453.1 453.4 465.6

31.1 29.7 29.5 28.8 28.8 30.5

57.2 55.2 56.4 56.5 57.4 58.2

14.8 14.4 14.9 15.2 15.0 15.9

23.2 24.2 24.0 24.0 24.4 24.5

13.0 12.9 13.2 13.0 13.9 14.0

6.4 7.0 7.4 7.6 7.8 8.0

6.5 6.7 6.3 6.2 6.2 6.2

13.0 12.1 12.6 12.7 12.9 12.9

34.4 34.7 33.3 33.4 30.9 29.8

20.0 19.8 21.0 20.9 22.2 22.2

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

929.6 938.6 939.3 953.9 953.2 983.1

703.7 710.4 711.4 725.5 729.5 764.7

483.3 484.9 482.6 494.9 504.3 532.4

29.9 30.6 30.7 32.6 32.5 32.2

58.3 60.6 56.9 57.3 56.5 56.8

15.6 16.1 15.3 15.7 16.1 15.7

24.1 24.1 23.8 24.3 24.6 25.4

14.0 13.7 13.9 13.3 12.8 13.2

7.8 7.8 8.3 8.6 8.1 8.2

6.1 6.1 6.3 6.2 6.0 6.1

13.3 12.4 12.8 12.4 13.0 12.3

26.2 29.1 34.0 33.3 30.6 38.7

21.1 21.6 22.2 22.5 21.7 21.2

2004 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

966.2 965.9 998.8 1 010.0 1 019.0 1 022.0

747.1 749.6 769.3 779.6 788.7 790.4

524.8 522.0 535.9 546.4 558.3 561.8

31.2 32.5 33.1 33.8 33.7 33.4

56.7 56.9 57.4 58.9 61.3 62.2

15.9 16.4 17.1 17.5 18.3 18.1

24.3 25.0 26.6 27.1 27.3 27.2

13.0 12.5 12.8 13.0 12.7 12.4

7.6 8.0 8.0 8.4 8.9 8.6

6.5 7.0 6.8 6.5 6.4 6.5

11.2 12.7 12.7 12.8 12.8 12.6

32.7 30.8 33.2 29.9 23.7 22.9

21.7 22.7 22.0 22.0 22.5 20.9

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

1 037.0 1 044.0 1 048.0 1 048.0 1 063.0 1 073.0

803.5 815.3 820.7 821.1 827.8 839.8

567.7 580.2 576.8 581.7 585.1 597.8

34.3 32.7 32.5 33.0 32.8 32.8

64.1 63.0 64.1 64.1 63.9 64.1

19.2 18.8 19.2 19.2 19.3 19.8

27.5 27.1 27.3 26.7 27.0 26.7

12.5 12.8 12.5 12.9 12.8 12.8

8.6 8.9 8.9 8.9 9.0 8.9

6.6 6.6 6.6 6.7 6.8 6.8

13.1 13.6 13.9 14.9 14.0 14.7

24.7 25.5 32.1 24.5 27.5 25.5

22.5 22.8 23.3 25.5 27.2 28.2

1Includes

categories not shown separately. . . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

340

Table 17-2. New Construction Put in Place—Continued (Billions of dollars, monthly data are at seasonally adjusted annual rates.) Public State and local Year and month Total Total 1

Residential

Office

Health care

Educational

Public safety

Amusement and Transportation recreation

Power

Sewage Highway and waste and street disposal

Water supply

Federal

1964 .......................................

20.2

16.5

...

...

...

...

...

...

...

...

...

...

...

3.7

1965 1966 1967 1968 1969

....................................... ....................................... ....................................... ....................................... .......................................

21.9 23.8 25.4 27.4 27.8

18.0 20.0 22.1 24.2 24.6

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3.9 3.8 3.3 3.2 3.2

1970 1971 1972 1973 1974

....................................... ....................................... ....................................... ....................................... .......................................

27.9 29.7 30.0 32.3 38.1

24.8 25.9 25.8 27.6 33.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

3.1 3.8 4.2 4.7 5.1

1975 1976 1977 1978 1979

....................................... ....................................... ....................................... ....................................... .......................................

43.3 44.0 43.1 50.1 56.6

37.2 37.2 36.0 42.0 48.1

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

6.1 6.8 7.1 8.1 8.6

1980 1981 1982 1983 1984

....................................... ....................................... ....................................... ....................................... .......................................

63.6 64.7 63.1 63.5 70.2

54.0 54.3 53.1 52.9 59.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

9.6 10.4 10.0 10.6 11.2

1985 1986 1987 1988 1989

....................................... ....................................... ....................................... ....................................... .......................................

77.8 84.6 90.6 94.7 98.2

65.8 72.2 76.6 82.5 86.0

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

12.0 12.4 14.1 12.3 12.2

1990 1991 1992 1993 1994

....................................... ....................................... ....................................... ....................................... .......................................

107.5 110.1 115.8 116.0 120.2

95.4 97.3 101.5 101.5 105.8

... ... ... 3.7 3.4

... ... ... 3.2 3.6

... ... ... 2.7 2.9

... ... ... 19.2 20.5

... ... ... 5.2 5.4

... ... ... 4.9 5.6

... ... ... 8.8 8.6

... ... ... 3.2 2.8

... ... ... 34.4 37.3

... ... ... 8.9 8.7

... ... ... 5.1 4.7

12.1 12.8 14.4 14.4 14.4

1995 1996 1997 1998 1999

....................................... ....................................... ....................................... ....................................... .......................................

129.9 139.3 150.7 154.3 169.7

114.2 123.9 136.6 140.0 155.7

4.0 4.2 4.3 4.3 4.6

3.9 4.4 4.6 4.6 4.5

3.2 3.4 3.5 2.9 3.2

25.7 28.6 33.8 35.0 41.1

5.9 6.7 6.7 7.6 7.9

6.1 6.1 6.9 7.7 9.2

9.0 10.0 9.7 10.2 11.3

2.9 2.5 3.1 2.5 3.2

37.6 39.5 43.0 44.8 49.2

8.4 9.8 10.5 9.9 10.5

4.7 5.6 6.5 6.7 7.0

15.8 15.3 14.1 14.3 14.0

2000 2001 2002 2003 2004

....................................... ....................................... ....................................... ....................................... .......................................

185.5 206.1 217.2 223.5 229.3

171.4 191.0 200.6 205.6 211.3

4.2 5.0 5.3 5.0 5.2

6.3 7.2 8.2 8.5 8.6

3.9 3.8 4.5 5.5 6.5

45.6 51.3 54.6 55.0 57.9

8.1 7.8 7.7 8.1 7.7

10.6 11.8 12.0 11.6 10.9

14.2 16.1 17.7 17.9 18.5

3.9 4.0 4.4 6.2 5.9

53.1 59.1 58.3 58.4 59.2

10.2 11.1 12.9 13.7 14.8

7.0 9.0 9.8 10.3 10.3

14.2 15.1 16.6 17.9 18.0

2002 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

219.9 221.8 210.3 211.5 217.4 214.9

203.9 204.5 193.6 195.5 200.7 198.3

5.5 5.7 5.4 5.5 5.3 5.4

7.6 7.6 7.6 7.9 8.4 8.4

4.3 4.0 4.2 4.3 4.2 4.4

55.5 56.2 54.4 55.8 55.6 54.2

8.1 8.0 7.5 7.6 7.5 8.1

12.0 12.0 12.5 11.3 11.3 11.7

16.8 17.1 17.6 17.0 17.8 17.8

3.3 3.6 2.8 4.5 4.5 4.2

63.2 62.5 54.5 54.1 57.4 56.5

12.6 13.4 12.8 12.7 13.0 12.9

9.2 9.4 9.3 9.5 10.6 10.0

16.0 17.3 16.7 16.0 16.7 16.6

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

216.4 216.9 217.5 218.1 219.1 225.7

199.3 200.8 201.7 201.7 202.4 207.9

5.7 5.3 5.3 5.0 5.0 4.9

8.4 8.5 8.2 8.3 8.2 8.6

4.6 4.6 5.0 4.8 4.8 5.1

53.5 54.1 53.8 54.8 54.4 53.7

7.4 7.9 7.8 7.5 7.7 7.7

11.3 12.0 13.4 12.0 12.1 12.1

17.9 18.3 18.0 17.5 18.3 17.5

4.3 3.8 3.8 4.8 6.5 6.0

58.8 58.2 58.0 58.2 56.8 64.4

12.8 13.1 13.1 12.6 12.7 12.9

9.5 9.7 10.2 10.5 10.1 10.1

17.1 16.1 15.8 16.5 16.7 17.7

2003 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

223.2 221.4 215.8 218.7 221.7 226.1

205.9 203.8 199.4 200.2 202.9 207.5

5.3 5.3 4.9 4.9 5.0 5.0

8.4 8.8 8.4 8.2 8.0 8.0

4.9 5.3 5.3 5.2 5.4 5.6

53.7 52.4 54.2 53.6 55.2 56.3

7.5 7.7 7.8 7.6 7.8 8.1

12.5 11.6 11.6 11.8 12.8 11.9

17.4 18.7 17.6 18.2 18.1 18.6

6.8 6.7 6.8 6.6 6.2 7.1

60.9 59.0 55.4 56.0 55.7 56.9

12.9 13.3 12.7 13.0 13.2 13.6

10.3 10.4 10.2 9.9 10.1 10.4

17.3 17.6 16.4 18.5 18.8 18.6

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

225.9 228.1 227.9 228.4 223.8 218.3

207.8 209.6 209.5 209.7 206.7 201.8

5.0 5.2 5.0 4.9 4.6 4.6

9.1 8.9 8.8 8.3 8.5 8.1

5.5 5.7 5.7 5.8 6.0 6.0

56.9 55.8 54.5 55.6 56.1 55.5

8.5 8.3 8.3 8.8 8.3 8.2

11.6 11.1 10.8 11.0 11.1 10.5

17.8 18.1 18.1 17.9 17.6 16.8

6.0 6.6 5.3 7.1 4.9 4.8

57.0 58.9 62.4 60.0 59.7 58.1

13.6 14.0 14.1 14.3 14.4 14.8

10.3 10.8 10.2 10.1 10.3 10.1

18.1 18.5 18.4 18.7 17.1 16.5

2004 January .............................. February ............................ March ................................. April .................................... May .................................... June ...................................

219.0 216.3 229.5 231.3 230.4 232.5

201.7 200.1 211.5 212.4 211.4 214.9

4.5 4.5 4.7 5.0 5.4 5.4

8.3 8.6 9.1 8.7 8.4 8.5

5.9 5.8 6.1 6.6 6.5 6.9

54.1 54.7 57.0 57.0 57.5 60.0

7.7 7.3 7.7 7.6 7.7 7.9

12.4 11.2 11.1 11.4 11.3 11.0

17.3 17.5 18.4 18.2 17.6 17.9

4.9 4.9 4.6 5.2 5.6 6.3

55.9 55.0 61.7 61.9 60.4 60.7

14.6 14.7 14.8 14.7 15.5 14.5

11.0 10.4 10.9 10.7 10.1 10.2

17.3 16.1 18.0 18.9 19.0 17.6

July .................................... August ................................ September ......................... October .............................. November .......................... December ..........................

234.0 229.1 228.0 227.4 235.5 233.7

215.8 210.7 209.7 211.9 216.7 215.4

5.5 5.7 5.4 5.0 5.5 5.4

8.5 8.3 8.4 8.6 8.6 9.1

6.9 6.8 6.4 6.8 6.7 6.9

59.7 58.2 58.5 58.1 58.8 59.2

7.8 8.0 7.8 7.5 8.0 7.9

11.3 10.7 10.8 10.1 9.9 9.7

19.2 18.6 18.6 19.4 19.0 18.8

6.1 6.5 7.8 6.1 6.2 6.0

58.8 57.3 55.1 59.0 63.3 62.5

15.0 14.5 14.7 15.0 14.9 14.6

11.0 10.4 10.1 9.6 9.8 9.8

18.2 18.3 18.3 15.5 18.8 18.3

1Includes

categories not shown separately. . . . = Not available.

CHAPTER 17: KEY SECTOR STATISTICS

341

Table 17-3. Housing Starts and Building Permits; New House Sales and Prices Housing starts and building permits

New house sales and prices

New private housing units (thousands) Year and month

Started (not seasonally adjusted)

Total 1

One5 units or family more structures

Total 1

Shipments of manufacSeasonally adjusted annual rate tured homes Started Authorized by building permits 2 (thousands, seasonally OneOneadjusted 5 units or 5 units or Total 1 family family annual rate) more more structures structures

Seasonally adjusted Sold (thousands, annual rate)

For sale, end-ofperiod (thousands)

Median sales price (dollars)

Price index, 1996 = 100

1959 .................................

1 517

1 234

...

1 517

1 234

...

1 208

938

193

120

...

...

...

...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 252 1 313 1 463 1 603 1 529

995 974 991 1 012 970

... ... ... ... 450

1 252 1 313 1 463 1 603 1 529

995 974 991 1 012 970

... ... ... ... 450

998 1 064 1 187 1 335 1 286

746 723 716 750 720

187 274 383 466 465

104 90 118 151 191

... ... ... 560 565

... ... ... 265 250

... ... ... 18 000 18 900

... ... ... 17.8 18.0

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 473 1 165 1 292 1 508 1 467

964 779 844 899 811

422 325 376 527 571

1 473 1 165 1 292 1 508 1 467

964 779 844 899 811

422 325 376 527 571

1 241 972 1 141 1 353 1 322

710 563 651 695 625

446 348 418 574 612

216 217 240 318 413

575 461 487 490 448

228 196 190 218 228

20 000 21 400 22 700 24 700 25 600

18.3 19.1 19.6 20.7 22.2

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 434 2 052 2 357 2 045 1 338

813 1 151 1 309 1 132 888

536 781 906 795 382

1 434 2 052 2 357 2 045 1 338

813 1 151 1 309 1 132 888

536 781 906 795 382

1 352 1 925 2 219 1 820 1 074

647 906 1 033 882 644

617 886 1 037 820 366

401 492 576 580 338

485 656 718 634 519

227 294 416 422 350

23 400 25 200 27 600 32 500 35 900

22.8 24.1 25.6 27.9 30.5

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

1 160 1 538 1 987 2 020 1 745

892 1 162 1 451 1 433 1 194

204 289 414 462 429

1 160 1 538 1 987 2 020 1 745

892 1 162 1 451 1 433 1 194

204 289 414 462 429

939 1 296 1 690 1 800 1 552

676 894 1 126 1 183 982

200 310 443 487 445

213 246 266 276 277

549 646 819 817 709

316 358 408 419 402

39 300 44 200 48 800 55 700 62 900

33.7 36.6 41.3 47.3 54.0

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

1 292 1 084 1 062 1 703 1 750

852 705 663 1 068 1 084

330 288 320 522 544

1 292 1 084 1 062 1 703 1 750

852 705 663 1 068 1 084

330 288 320 522 544

1 191 986 1 000 1 605 1 682

710 564 546 902 922

366 319 366 570 617

222 241 240 296 295

545 436 412 623 639

342 278 255 304 358

64 600 68 900 69 300 75 300 79 900

59.5 64.2 65.7 67.1 69.8

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

1 742 1 805 1 620 1 488 1 376

1 072 1 179 1 146 1 081 1 003

576 542 409 348 318

1 742 1 805 1 620 1 488 1 376

1 072 1 179 1 146 1 081 1 003

576 542 409 348 318

1 733 1 769 1 535 1 456 1 338

957 1 078 1 024 994 932

657 584 421 386 340

284 244 233 218 198

688 750 671 676 650

350 361 370 371 366

84 300 92 000 104 500 112 500 120 000

70.7 73.4 77.4 80.3 83.5

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

1 193 1 014 1 200 1 288 1 457

895 840 1 030 1 126 1 198

260 138 139 133 224

1 193 1 014 1 200 1 288 1 457

895 840 1 030 1 126 1 198

260 138 139 133 224

1 111 949 1 095 1 199 1 372

794 754 911 986 1 068

263 152 138 160 241

188 171 210 254 304

534 509 610 666 670

321 284 267 295 340

122 900 120 000 121 500 126 500 130 000

85.1 86.2 87.3 91.1 95.5

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 354 1 477 1 474 1 617 1 641

1 076 1 161 1 134 1 271 1 302

244 271 296 303 307

1 354 1 477 1 474 1 617 1 641

1 076 1 161 1 134 1 271 1 302

244 271 296 303 307

1 332 1 426 1 441 1 612 1 664

997 1 070 1 062 1 188 1 247

272 290 310 356 351

340 363 354 373 348

667 757 804 886 880

374 326 287 300 315

133 900 140 000 146 000 152 500 161 000

98.2 100.0 102.9 105.5 110.7

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 569 1 603 1 705 1 848 1 956

1 231 1 273 1 359 1 499 1 610

299 293 308 315 303

1 569 1 603 1 705 1 848 1 956

1 231 1 273 1 359 1 499 1 610

299 293 308 315 303

1 592 1 637 1 748 1 889 2 070

1 198 1 236 1 333 1 461 1 613

329 335 341 346 366

250 193 168 131 131

877 908 973 1 086 1 203

301 310 344 377 431

169 000 175 200 187 600 195 000 221 000

115.4 119.5 124.8 131.9 141.9

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

118 110 147 151 165 174

96 88 120 128 134 144

19 20 24 20 29 28

1 853 1 629 1 726 1 643 1 751 1 867

1 537 1 301 1 399 1 374 1 391 1 513

275 298 293 238 333 325

1 808 1 854 1 757 1 803 1 835 1 875

1 416 1 357 1 359 1 391 1 389 1 461

303 417 324 327 364 335

141 138 128 131 130 131

999 936 999 1 012 1 078 1 193

341 341 338 340 343 343

181 700 187 000 185 100 189 500 195 500 187 900

... 129.7 ... ... 129.7 ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

176 164 171 174 154 144

143 132 137 142 121 114

30 29 30 29 30 28

1 897 1 833 1 939 1 967 2 083 2 057

1 535 1 484 1 555 1 631 1 694 1 647

326 316 339 307 351 381

1 885 1 966 1 961 2 012 1 918 1 987

1 478 1 521 1 533 1 566 1 513 1 549

330 362 336 366 311 362

137 129 128 126 125 126

1 168 1 206 1 131 1 144 1 093 1 129

342 346 350 361 366 370

190 200 190 500 192 000 194 100 207 100 196 000

... 133.6 ... ... 135.2 ...

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

124 126 174 180 188 172

100 102 144 150 159 147

23 22 28 26 24 23

1 927 1 852 2 007 1 968 1 974 1 827

1 562 1 485 1 638 1 624 1 649 1 526

335 338 337 308 269 275

1 963 1 984 2 064 2 069 2 129 2 014

1 546 1 574 1 633 1 610 1 660 1 606

323 320 330 367 381 325

125 125 129 128 127 127

1 155 1 158 1 253 1 162 1 243 1 205

372 372 381 382 383 383

209 500 219 600 209 600 222 300 211 700 215 700

... 139.6 ... ... 141.6 ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

182 186 164 181 138 140

152 155 132 143 111 115

24 24 29 34 24 21

1 986 2 025 1 912 2 062 1 807 2 050

1 661 1 689 1 555 1 666 1 484 1 713

261 268 326 355 284 289

2 114 2 058 2 039 2 093 2 093 2 081

1 625 1 606 1 593 1 603 1 588 1 620

384 367 368 403 415 371

127 125 135 141 138 136

1 104 1 165 1 223 1 306 1 175 1 247

400 406 411 412 419 422

212 400 218 100 211 600 229 200 224 500 229 600

... 142.9 ... ... 146.6 ...

1Includes structures with 2 2Data beginning with 2004

places. . . . = Not available.

to 4 units, not shown separately. cover 20,000 permit-issuing places; 1994–2003: 19,000 places; 1984–1993: 17,000 places; 1978–1983: 16,000 places; 1972–1977: 14,000 places; 1971: 13,000

342

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-4. Manufacturers’ Shipments (Millions of dollars, adjusted for trading-day and calendar-month variation, but without seasonal adjustment.) NAICS durable goods industries Classification basis, year and month

SIC Basis 2 1958 .................................................. 1959 ..................................................

Primary metals Total Total 1

Nonmetallic mineral products

Total

Iron and steel mills

Fabricated metal products

Machinery

Computers and electronic products

Electrical Transportation equipment equipment, Motor appliances Total vehicles and components and parts

326 971 363 437

162 632 187 168

9 543 11 052

26 541 31 381

15 533 18 251

21 359 23 723

41 129 47 386

39 223 45 502

20 411 26 239

1960 1961 1962 1963 1964

.................................................. .................................................. .................................................. .................................................. ..................................................

370 535 371 067 400 294 420 690 447 968

190 440 187 217 206 958 219 058 235 327

10 879 10 782 11 298 12 000 12 652

31 307 30 610 32 543 34 398 38 876

18 140 17 196 18 073 18 954 21 625

23 947 23 701 26 162 26 847 28 866

48 426 49 376 53 993 56 450 62 425

47 631 44 221 52 146 56 379 58 151

29 263 25 222 31 979 35 328 36 557

1965 1966 1967 1968 1969

.................................................. .................................................. .................................................. .................................................. ..................................................

491 938 538 436 557 836 602 744 642 013

266 318 295 405 302 795 331 490 352 836

13 652 14 301 14 116 15 465 16 499

43 975 47 943 45 139 48 717 53 534

23 965 24 551 23 123 24 908 26 412

32 378 36 775 40 054 43 638 46 104

71 268 83 483 86 946 90 742 98 144

68 213 72 500 72 535 83 527 85 175

45 162 45 058 40 337 49 465 50 943

1970 1971 1972 1973 1974

.................................................. .................................................. .................................................. .................................................. ..................................................

633 663 670 877 756 321 875 173 1 017 477

337 876 359 089 407 844 475 621 530 074

16 454 18 220 20 875 23 141 25 503

51 995 51 585 58 490 72 791 95 686

25 189 25 791 28 712 36 301 49 718

44 210 45 478 51 487 58 804 67 212

98 301 98 822 113 658 132 776 151 725

74 539 88 857 94 706 110 587 108 244

42 538 58 247 63 923 74 799 68 631

1975 1976 1977 1978 1979

.................................................. .................................................. .................................................. .................................................. ..................................................

1 039 065 1 185 563 1 358 416 1 522 858 1 727 234

523 178 607 475 710 017 812 776 911 124

26 233 29 618 34 209 40 238 44 287

80 890 93 082 103 267 118 175 137 488

42 281 46 764 50 670 59 228 67 414

68 411 77 560 89 938 101 245 113 494

152 422 170 998 200 594 232 598 269 375

113 503 141 028 166 954 188 773 201 623

70 033 95 380 117 747 131 999 131 378

1980 1981 1982 1983 1984

.................................................. .................................................. .................................................. .................................................. ..................................................

1 852 689 2 017 544 1 960 214 2 070 564 2 288 184

929 027 1 004 725 950 541 1 025 770 1 175 276

44 473 46 220 43 515 47 697 53 101

134 057 142 072 104 874 109 240 120 315

61 612 70 254 46 928 46 398 51 978

116 071 123 535 119 236 123 083 138 107

293 428 323 186 312 501 314 584 373 437

186 516 205 223 201 347 245 392 284 593

104 560 116 981 112 270 148 296 181 993

1985 1986 1987 1988 1989

.................................................. .................................................. .................................................. .................................................. ..................................................

2 334 456 2 335 881 2 475 906 2 695 432 2 840 375

1 215 352 1 238 859 1 297 532 1 421 501 1 477 900

55 821 59 254 61 477 63 145 63 729

112 265 107 865 120 248 149 837 155 718

48 904 45 718 51 815 64 294 64 783

143 268 143 063 147 367 159 505 164 073

382 359 378 385 388 958 431 666 450 810

307 380 322 688 332 936 354 849 369 675

193 445 198 811 205 923 222 353 233 232

1990 .................................................. 1991 .................................................. 1992 ..................................................

2 912 228 2 878 167 3 004 727

1 485 313 1 451 998 1 541 866

63 728 59 957 62 521

148 787 136 378 138 287

62 826 57 267 58 449

165 064 159 760 166 532

455 265 446 786 475 426

370 328 367 235 399 270

217 295 209 210 238 384

NAICS Basis 1992 .................................................. 1993 .................................................. 1994 ..................................................

2 904 024 3 020 497 3 238 112

1 518 862 1 604 544 1 764 061

61 902 64 957 70 598

123 789 126 988 142 976

55 947 59 632 67 087

170 403 177 967 194 113

186 589 201 076 224 920

273 728 286 457 320 769

81 813 87 646 95 531

433 611 453 437 494 745

279 197 310 178 364 840

1995 1996 1997 1998 1999

.................................................. .................................................. .................................................. .................................................. ..................................................

3 479 677 3 597 188 3 834 699 3 899 813 4 031 887

1 902 815 1 978 597 2 147 384 2 231 588 2 326 736

74 865 81 308 86 465 92 501 96 153

160 774 157 638 168 118 166 109 156 648

72 019 71 814 76 900 75 871 70 087

212 444 222 995 242 812 253 720 257 071

246 277 257 459 270 687 280 651 276 904

370 679 399 516 439 380 443 768 467 059

101 051 105 283 112 116 116 024 118 313

508 271 516 030 575 307 612 882 676 328

379 551 387 394 421 573 439 590 498 716

2000 2001 2002 2003 2004

.................................................. .................................................. .................................................. .................................................. ..................................................

4 208 584 4 022 901 3 920 559 3 979 846 4 373 578

2 373 688 2 203 102 2 128 096 2 137 970 2 358 097

97 329 94 460 95 265 96 349 98 408

156 598 137 469 139 449 136 839 172 968

70 470 60 803 62 043 61 175 80 755

268 213 258 918 246 735 244 662 272 216

291 548 268 457 253 061 253 600 288 742

510 639 434 427 358 257 353 667 405 289

125 443 116 919 104 473 101 770 107 129

639 861 613 837 637 677 653 491 687 965

471 180 439 905 470 230 485 921 509 738

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

301 441 313 470 347 749 319 284 330 316 346 418

157 929 168 072 189 496 170 445 177 667 190 631

7 216 7 033 7 703 8 117 8 375 8 541

11 654 11 271 11 987 11 670 11 795 11 402

5 229 5 068 5 516 5 391 5 352 5 098

18 327 19 769 20 914 20 190 20 715 21 166

18 140 19 392 23 410 21 311 22 048 23 403

24 214 25 822 31 877 25 490 26 526 33 182

7 460 7 859 9 044 8 087 8 361 9 073

48 929 54 097 59 464 51 902 55 755 58 335

38 914 40 611 43 316 39 729 42 234 42 079

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

308 631 334 356 355 323 354 487 329 237 339 134

156 651 176 287 195 658 191 967 177 598 185 569

8 457 8 704 8 842 9 265 7 268 6 828

10 619 11 224 11 522 12 145 10 823 10 727

4 751 4 928 5 069 5 261 4 691 4 821

19 974 20 821 21 423 21 957 19 730 19 676

19 746 20 331 22 401 21 253 19 883 22 282

25 390 28 036 34 647 30 329 30 698 37 456

7 796 8 216 9 585 8 622 8 583 9 084

40 726 53 384 60 542 61 483 54 935 53 939

28 819 40 201 44 781 48 213 39 276 37 748

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

313 887 335 294 385 022 355 655 362 301 387 675

164 903 183 594 216 729 192 535 193 856 213 555

6 895 6 947 8 316 8 448 8 215 8 713

12 092 12 844 14 929 14 390 14 276 15 168

5 305 5 607 6 610 6 523 6 557 7 194

19 120 20 340 23 836 22 428 22 869 24 066

19 419 20 678 26 936 24 690 23 503 26 735

27 516 30 020 36 418 30 083 31 033 37 121

7 407 8 131 9 474 8 588 8 819 9 610

49 598 60 049 68 764 57 393 58 198 62 989

38 730 44 533 51 476 44 361 42 905 45 910

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

337 391 378 218 388 674 382 653 370 915 375 893

171 289 201 562 214 061 203 080 196 326 206 607

8 428 9 035 8 646 8 754 8 346 7 665

13 838 15 545 15 594 15 394 14 717 14 181

6 745 7 499 7 484 7 302 7 037 6 892

22 055 24 263 24 454 23 851 22 946 21 988

23 162 23 435 26 117 24 773 22 791 26 503

30 125 32 927 38 756 34 299 35 181 41 810

8 327 9 189 10 029 8 958 9 230 9 367

39 622 58 669 61 711 59 333 55 378 56 261

27 229 43 946 45 138 44 961 40 911 39 638

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC

classification system.

CHAPTER 17: KEY SECTOR STATISTICS Table 17-4. Manufacturers’ Shipments—Continued (Millions of dollars, adjusted for trading-day and calendar-month variation, but without seasonal adjustment.) NAICS nondurable goods industries Classification basis, year and month

Total 1

SIC Basis 2 1958 .................................................. 1959 ..................................................

Food products

Beverage and tobacco products 3

Textile products

Textiles

Apparel

Paper products

Basic chemicals

Petroleum and coal products

Plastics and rubber products

164 339 176 269

59 738 60 781

3 868 4 049

12 417 14 067

... ...

12 707 14 077

23 093 26 358

15 188 15 806

7 310 8 395

1960 1961 1962 1963 1964

.................................................. .................................................. .................................................. .................................................. ..................................................

180 095 183 850 193 336 201 632 212 641

62 468 64 542 66 935 68 469 71 594

4 367 4 487 4 531 4 521 4 653

13 791 14 016 15 185 15 744 17 000

... ... ... ... ...

14 308 14 524 15 382 16 192 17 019

26 509 27 175 29 266 31 682 34 148

16 349 16 359 16 716 17 506 17 855

8 483 8 511 9 335 10 076 10 749

1965 1966 1967 1968 1969

.................................................. .................................................. .................................................. .................................................. ..................................................

225 620 243 031 255 041 271 254 289 177

74 250 79 665 83 961 87 328 93 385

4 649 4 772 4 903 4 937 4 992

18 299 19 600 19 816 21 970 22 978

... ... ... ... ...

18 394 20 211 20 777 22 093 24 188

37 289 40 569 42 037 45 491 48 096

18 588 19 857 21 435 22 548 23 721

11 966 13 181 13 908 15 585 16 935

1970 1971 1972 1973 1974

.................................................. .................................................. .................................................. .................................................. ..................................................

295 787 311 788 348 477 399 552 487 403

98 535 103 637 115 054 135 585 161 884

5 350 5 528 5 919 6 341 7 139

22 614 24 034 28 065 31 073 32 790

... ... ... ... ...

24 573 25 182 28 004 32 495 41 514

49 195 51 681 58 130 66 003 85 387

24 200 26 198 27 918 33 903 57 229

16 754 18 409 21 662 25 191 28 828

1975 1976 1977 1978 1979

.................................................. .................................................. .................................................. .................................................. ..................................................

515 887 578 088 648 399 710 082 816 110

172 054 180 830 192 913 215 989 235 976

8 058 8 786 9 051 9 951 10 602

31 065 36 387 40 550 42 281 45 137

... ... ... ... ...

41 497 47 939 51 881 56 777 64 957

91 710 106 467 120 905 132 262 151 887

67 496 80 022 94 702 100 967 144 156

28 128 32 880 40 944 44 823 48 694

1980 1981 1982 1983 1984

.................................................. .................................................. .................................................. .................................................. ..................................................

923 662 1 012 819 1 009 673 1 044 794 1 112 908

256 191 272 140 280 529 289 314 304 584

12 194 13 130 16 061 16 268 17 473

47 256 50 260 47 516 53 733 56 336

... ... ... ... ...

72 553 79 970 79 698 84 817 95 525

168 220 186 909 176 254 189 552 205 963

192 969 217 681 203 404 187 788 184 488

49 157 55 178 57 307 62 870 72 938

1985 1986 1987 1988 1989

.................................................. .................................................. .................................................. .................................................. ..................................................

1 119 104 1 097 022 1 178 374 1 273 931 1 362 475

308 606 318 203 329 725 354 084 380 160

18 559 19 146 20 757 23 809 25 875

54 605 57 188 62 787 64 627 67 265

... ... ... ... ...

94 679 99 865 108 989 122 882 131 896

204 790 205 711 229 546 261 238 283 196

176 574 122 605 130 414 131 682 146 487

75 590 78 379 86 634 95 485 101 236

1990 .................................................. 1991 .................................................. 1992 ..................................................

1 426 915 1 426 169 1 462 861

391 728 397 893 406 964

29 856 31 943 35 198

65 533 65 440 70 753

... ... ...

132 424 130 131 133 201

292 802 298 545 305 420

173 389 159 144 150 227

105 250 105 804 113 593

NAICS Basis 1992 .................................................. 1993 .................................................. 1994 ..................................................

1 385 162 1 415 953 1 474 051

358 494 373 612 379 786

85 687 79 227 83 434

52 923 55 375 58 607

24 763 25 623 27 233

61 535 63 210 64 894

127 122 126 982 136 922

319 501 330 760 350 098

150 095 144 731 143 339

113 827 122 807 134 288

1995 1996 1997 1998 1999

.................................................. .................................................. .................................................. .................................................. ..................................................

1 576 862 1 618 591 1 687 315 1 668 225 1 705 151

393 204 404 173 421 737 428 479 426 001

88 945 94 033 96 971 102 359 106 920

59 885 59 796 58 707 57 416 54 306

27 976 28 515 31 052 31 137 32 689

65 214 64 237 68 018 64 932 62 305

166 051 152 860 150 296 154 984 156 915

376 995 385 919 415 617 416 742 420 321

151 431 174 181 177 394 137 957 162 620

145 084 149 773 159 161 163 736 171 885

2000 2001 2002 2003 2004

.................................................. .................................................. .................................................. .................................................. ..................................................

1 834 896 1 819 799 1 792 463 1 841 876 2 015 481

435 229 456 692 460 020 482 815 511 566

111 692 117 422 105 691 106 873 109 106

52 112 45 141 45 549 42 557 43 411

33 654 34 165 31 806 30 827 33 291

60 339 56 545 44 515 40 624 41 563

165 298 159 150 153 656 149 271 160 502

449 159 442 790 460 451 477 360 520 613

235 134 222 356 215 190 237 010 306 938

178 236 178 127 173 900 176 345 190 978

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

143 512 145 398 158 253 148 839 152 649 155 787

37 174 37 609 39 731 38 450 39 225 40 267

7 758 7 904 9 083 8 860 9 569 9 566

3 265 3 603 3 888 3 440 3 477 3 776

2 087 2 381 2 608 2 536 2 515 2 678

2 961 3 407 3 369 3 018 3 097 3 476

12 541 12 279 12 854 12 285 12 496 12 870

37 677 37 691 42 479 39 353 39 352 40 122

18 653 18 639 20 484 17 895 19 678 19 831

13 616 13 956 15 229 14 820 15 227 15 242

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

151 980 158 069 159 665 162 520 151 639 153 565

38 768 41 695 42 648 43 618 41 983 41 647

9 394 9 394 9 047 9 095 8 542 8 661

3 176 3 672 3 793 3 790 3 465 3 212

2 569 2 746 2 715 2 738 2 643 2 611

3 481 3 783 3 642 3 891 3 621 2 878

12 264 12 358 12 454 12 743 11 825 12 302

39 935 39 218 41 595 41 633 38 447 39 858

20 231 21 822 20 067 20 551 18 969 20 190

14 658 15 036 15 212 15 875 13 667 13 807

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

148 984 151 700 168 293 163 120 168 445 174 120

38 787 39 397 41 281 41 080 42 064 42 993

7 923 8 119 9 519 9 046 9 580 10 094

3 253 3 633 3 798 3 654 3 740 3 780

2 502 2 776 2 879 2 760 2 756 2 896

2 974 3 472 3 565 3 144 3 280 3 368

12 609 12 445 13 344 12 776 13 108 14 327

38 837 39 340 45 716 42 613 43 223 45 470

20 509 20 515 22 982 24 016 26 772 25 834

14 146 14 346 16 847 16 209 16 131 17 026

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

166 102 176 656 174 613 179 573 174 589 169 286

41 036 44 725 44 704 46 226 45 547 43 726

9 297 9 674 9 307 9 029 8 807 8 711

3 436 3 774 3 902 3 707 3 446 3 288

2 806 2 991 2 806 2 905 2 769 2 445

3 483 3 760 3 722 4 020 3 732 3 043

13 389 14 107 13 758 13 648 13 434 13 557

42 454 44 438 44 242 45 349 44 897 44 034

26 925 28 140 27 072 29 428 27 850 26 895

15 520 16 766 16 493 16 560 15 657 15 277

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC 3SIC tobacco only, 1958–1992.

. . . = Not available.

classification system.

343

344

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-4. Manufacturers’ Shipments—Continued (Millions of dollars, seasonally adjusted.) NAICS durable goods industries Classification basis, year and month

SIC Basis 2 1958 .................................................. 1959 ..................................................

Primary metals Total Total 1

Nonmetallic mineral products

Total

Iron and steel mills

Fabricated metal products

Machinery

Computers and electronic products

Electrical Transportation equipment equipment, Motor appliances Total vehicles and and components parts

326 971 363 437

162 632 187 168

9 543 11 052

26 541 31 381

15 533 18 251

21 359 23 723

41 129 47 386

39 223 45 502

20 411 26 239

1960 1961 1962 1963 1964

.................................................. .................................................. .................................................. .................................................. ..................................................

370 535 371 067 400 294 420 690 447 968

190 440 187 217 206 958 219 058 235 327

10 879 10 782 11 298 12 000 12 652

31 307 30 610 32 543 34 398 38 876

18 140 17 196 18 073 18 954 21 625

23 947 23 701 26 162 26 847 28 866

48 426 49 376 53 993 56 450 62 425

47 631 44 221 52 146 56 379 58 151

29 263 25 222 31 979 35 328 36 557

1965 1966 1967 1968 1969

.................................................. .................................................. .................................................. .................................................. ..................................................

491 938 538 436 557 836 602 744 642 013

266 318 295 405 302 795 331 490 352 836

13 652 14 301 14 116 15 465 16 499

43 975 47 943 45 139 48 717 53 534

23 965 24 551 23 123 24 908 26 412

32 378 36 775 40 054 43 638 46 104

71 268 83 483 86 946 90 742 98 144

68 213 72 500 72 535 83 527 85 175

45 162 45 058 40 337 49 465 50 943

1970 1971 1972 1973 1974

.................................................. .................................................. .................................................. .................................................. ..................................................

633 663 670 877 756 321 875 173 1 017 477

337 876 359 089 407 844 475 621 530 074

16 454 18 220 20 875 23 141 25 503

51 995 51 585 58 490 72 791 95 686

25 189 25 791 28 712 36 301 49 718

44 210 45 478 51 487 58 804 67 212

98 301 98 822 113 658 132 776 151 725

74 539 88 857 94 706 110 587 108 244

42 538 58 247 63 923 74 799 68 631

1975 1976 1977 1978 1979

.................................................. .................................................. .................................................. .................................................. ..................................................

1 039 065 1 185 563 1 358 416 1 522 858 1 727 234

523 178 607 475 710 017 812 776 911 124

26 233 29 618 34 209 40 238 44 287

80 890 93 082 103 267 118 175 137 488

42 281 46 764 50 670 59 228 67 414

68 411 77 560 89 938 101 245 113 494

152 422 170 998 200 594 232 598 269 375

113 503 141 028 166 954 188 773 201 623

70 033 95 380 117 747 131 999 131 378

1980 1981 1982 1983 1984

.................................................. .................................................. .................................................. .................................................. ..................................................

1 852 689 2 017 544 1 960 214 2 070 564 2 288 184

929 027 1 004 725 950 541 1 025 770 1 175 276

44 473 46 220 43 515 47 697 53 101

134 057 142 072 104 874 109 240 120 315

61 612 70 254 46 928 46 398 51 978

116 071 123 535 119 236 123 083 138 107

293 428 323 186 312 501 314 584 373 437

186 516 205 223 201 347 245 392 284 593

104 560 116 981 112 270 148 296 181 993

1985 1986 1987 1988 1989

.................................................. .................................................. .................................................. .................................................. ..................................................

2 334 456 2 335 881 2 475 906 2 695 432 2 840 375

1 215 352 1 238 859 1 297 532 1 421 501 1 477 900

55 821 59 254 61 477 63 145 63 729

112 265 107 865 120 248 149 837 155 718

48 904 45 718 51 815 64 294 64 783

143 268 143 063 147 367 159 505 164 073

382 359 378 385 388 958 431 666 450 810

307 380 322 688 332 936 354 849 369 675

193 445 198 811 205 923 222 353 233 232

1990 .................................................. 1991 .................................................. 1992 ..................................................

2 912 228 2 878 167 3 004 727

1 485 313 1 451 998 1 541 866

63 728 59 957 62 521

148 787 136 378 138 287

62 826 57 267 58 449

165 064 159 760 166 532

455 265 446 786 475 426

370 328 367 235 399 270

217 295 209 210 238 384

NAICS Basis 1992 .................................................. 1993 .................................................. 1994 ..................................................

2 904 024 3 020 497 3 238 112

1 518 862 1 604 544 1 764 061

61 902 64 957 70 598

123 789 126 988 142 976

55 947 59 632 67 087

170 403 177 967 194 113

186 589 201 076 224 920

273 728 286 457 320 769

81 813 87 646 95 531

433 611 453 437 494 745

279 197 310 178 364 840

1995 1996 1997 1998 1999

.................................................. .................................................. .................................................. .................................................. ..................................................

3 479 677 3 597 188 3 834 699 3 899 813 4 031 887

1 902 815 1 978 597 2 147 384 2 231 588 2 326 736

74 865 81 308 86 465 92 501 96 153

160 774 157 638 168 118 166 109 156 648

72 019 71 814 76 900 75 871 70 087

212 444 222 995 242 812 253 720 257 071

246 277 257 459 270 687 280 651 276 904

370 679 399 516 439 380 443 768 467 059

101 051 105 283 112 116 116 024 118 313

508 271 516 030 575 307 612 882 676 328

379 551 387 394 421 573 439 590 498 716

2000 2001 2002 2003 2004

.................................................. .................................................. .................................................. .................................................. ..................................................

4 208 584 4 022 901 3 920 559 3 979 846 4 373 578

2 373 688 2 203 102 2 128 096 2 137 970 2 358 097

97 329 94 460 95 265 96 349 98 408

156 598 137 469 139 449 136 839 172 968

70 470 60 803 62 043 61 175 80 755

268 213 258 918 246 735 244 662 272 216

291 548 268 457 253 061 253 600 288 742

510 639 434 427 358 257 353 667 405 289

125 443 116 919 104 473 101 770 107 129

639 861 613 837 637 677 653 491 687 965

471 180 439 905 470 230 485 921 509 738

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

326 148 328 143 329 247 322 416 324 299 327 687

174 300 174 918 174 291 172 701 174 433 175 796

7 947 7 888 7 945 7 921 8 046 8 062

11 734 11 424 11 310 11 233 11 281 11 001

5 275 5 200 5 189 5 166 5 106 4 899

19 766 20 612 20 230 20 175 20 203 20 143

20 432 20 428 21 021 20 503 21 284 21 464

28 222 28 125 28 044 28 238 28 369 29 072

8 613 8 356 8 380 8 374 8 322 8 362

53 172 54 091 53 209 52 312 52 904 53 417

40 338 39 733 39 608 38 932 39 285 39 363

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

335 525 329 725 337 130 339 587 338 082 343 897

180 317 175 222 182 589 183 651 183 699 186 623

8 149 8 091 8 338 8 438 7 636 7 745

11 329 11 044 11 295 11 624 11 692 12 060

4 965 4 859 4 974 5 050 5 173 5 360

20 723 19 915 20 428 20 737 20 652 21 216

20 949 20 911 21 796 21 296 21 389 22 605

29 161 29 680 30 153 31 092 31 009 31 857

8 541 8 235 8 517 8 674 8 684 8 703

56 542 52 325 56 812 55 995 56 541 56 769

42 203 38 946 42 346 42 051 41 573 42 467

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

342 696 342 327 358 320 357 831 359 378 363 501

184 413 186 455 195 675 193 562 192 750 195 759

7 695 7 683 8 329 8 193 8 044 8 126

12 330 12 719 13 679 13 802 13 892 14 471

5 448 5 626 6 017 6 237 6 345 6 850

20 861 20 721 22 568 22 488 22 476 22 694

21 988 21 279 23 845 23 618 22 770 24 366

31 834 31 843 32 032 32 649 33 238 32 904

8 569 8 477 8 734 8 902 8 833 8 769

55 435 58 375 60 131 57 024 56 443 57 134

41 504 42 554 45 266 42 847 41 133 42 115

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

365 217 371 976 368 539 373 313 375 710 380 511

195 468 199 813 199 408 198 980 199 412 207 145

8 195 8 281 8 178 8 227 8 484 8 599

14 820 15 204 15 344 15 133 15 539 15 825

7 151 7 311 7 379 7 240 7 509 7 615

23 049 23 049 23 312 22 940 23 527 23 714

24 574 24 081 25 234 25 189 24 327 26 727

34 102 34 901 34 147 35 105 35 069 35 845

9 091 9 195 8 983 9 058 9 167 9 043

54 636 57 554 56 899 56 309 55 841 58 460

39 942 42 373 42 112 41 333 41 497 43 966

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC

classification system.

CHAPTER 17: KEY SECTOR STATISTICS Table 17-4. Manufacturers’ Shipments—Continued (Millions of dollars, seasonally adjusted.) NAICS nondurable goods industries Classification basis, year and month

Total 1

SIC Basis 2 1958 .................................................. 1959 ..................................................

Food products

Beverage and tobacco products 3

Textile products

Textiles

Apparel

Paper products

Basic chemicals

Petroleum and coal products

Plastics and rubber products

164 339 176 269

59 738 60 781

3 868 4 049

12 417 14 067

... ...

12 707 14 077

23 093 26 358

15 188 15 806

7 310 8 395

1960 1961 1962 1963 1964

.................................................. .................................................. .................................................. .................................................. ..................................................

180 095 183 850 193 336 201 632 212 641

62 468 64 542 66 935 68 469 71 594

4 367 4 487 4 531 4 521 4 653

13 791 14 016 15 185 15 744 17 000

... ... ... ... ...

14 308 14 524 15 382 16 192 17 019

26 509 27 175 29 266 31 682 34 148

16 349 16 359 16 716 17 506 17 855

8 483 8 511 9 335 10 076 10 749

1965 1966 1967 1968 1969

.................................................. .................................................. .................................................. .................................................. ..................................................

225 620 243 031 255 041 271 254 289 177

74 250 79 665 83 961 87 328 93 385

4 649 4 772 4 903 4 937 4 992

18 299 19 600 19 816 21 970 22 978

... ... ... ... ...

18 394 20 211 20 777 22 093 24 188

37 289 40 569 42 037 45 491 48 096

18 588 19 857 21 435 22 548 23 721

11 966 13 181 13 908 15 585 16 935

1970 1971 1972 1973 1974

.................................................. .................................................. .................................................. .................................................. ..................................................

295 787 311 788 348 477 399 552 487 403

98 535 103 637 115 054 135 585 161 884

5 350 5 528 5 919 6 341 7 139

22 614 24 034 28 065 31 073 32 790

... ... ... ... ...

24 573 25 182 28 004 32 495 41 514

49 195 51 681 58 130 66 003 85 387

24 200 26 198 27 918 33 903 57 229

16 754 18 409 21 662 25 191 28 828

1975 1976 1977 1978 1979

.................................................. .................................................. .................................................. .................................................. ..................................................

515 887 578 088 648 399 710 082 816 110

172 054 180 830 192 913 215 989 235 976

8 058 8 786 9 051 9 951 10 602

31 065 36 387 40 550 42 281 45 137

... ... ... ... ...

41 497 47 939 51 881 56 777 64 957

91 710 106 467 120 905 132 262 151 887

67 496 80 022 94 702 100 967 144 156

28 128 32 880 40 944 44 823 48 694

1980 1981 1982 1983 1984

.................................................. .................................................. .................................................. .................................................. ..................................................

923 662 1 012 819 1 009 673 1 044 794 1 112 908

256 191 272 140 280 529 289 314 304 584

12 194 13 130 16 061 16 268 17 473

47 256 50 260 47 516 53 733 56 336

... ... ... ... ...

72 553 79 970 79 698 84 817 95 525

168 220 186 909 176 254 189 552 205 963

192 969 217 681 203 404 187 788 184 488

49 157 55 178 57 307 62 870 72 938

1985 1986 1987 1988 1989

.................................................. .................................................. .................................................. .................................................. ..................................................

1 119 104 1 097 022 1 178 374 1 273 931 1 362 475

308 606 318 203 329 725 354 084 380 160

18 559 19 146 20 757 23 809 25 875

54 605 57 188 62 787 64 627 67 265

... ... ... ... ...

94 679 99 865 108 989 122 882 131 896

204 790 205 711 229 546 261 238 283 196

176 574 122 605 130 414 131 682 146 487

75 590 78 379 86 634 95 485 101 236

1990 .................................................. 1991 .................................................. 1992 ..................................................

1 426 915 1 426 169 1 462 861

391 728 397 893 406 964

29 856 31 943 35 198

65 533 65 440 70 753

... ... ...

132 424 130 131 133 201

292 802 298 545 305 420

173 389 159 144 150 227

105 250 105 804 113 593

NAICS Basis 1992 .................................................. 1993 .................................................. 1994 ..................................................

1 385 162 1 415 953 1 474 051

358 494 373 612 379 786

85 687 79 227 83 434

52 923 55 375 58 607

24 763 25 623 27 233

61 535 63 210 64 894

127 122 126 982 136 922

319 501 330 760 350 098

150 095 144 731 143 339

113 827 122 807 134 288

1995 1996 1997 1998 1999

.................................................. .................................................. .................................................. .................................................. ..................................................

1 576 862 1 618 591 1 687 315 1 668 225 1 705 151

393 204 404 173 421 737 428 479 426 001

88 945 94 033 96 971 102 359 106 920

59 885 59 796 58 707 57 416 54 306

27 976 28 515 31 052 31 137 32 689

65 214 64 237 68 018 64 932 62 305

166 051 152 860 150 296 154 984 156 915

376 995 385 919 415 617 416 742 420 321

151 431 174 181 177 394 137 957 162 620

145 084 149 773 159 161 163 736 171 885

2000 2001 2002 2003 2004

.................................................. .................................................. .................................................. .................................................. ..................................................

1 834 896 1 819 799 1 792 463 1 841 876 2 015 481

435 229 456 692 460 020 482 815 511 566

111 692 117 422 105 691 106 873 109 106

52 112 45 141 45 549 42 557 43 411

33 654 34 165 31 806 30 827 33 291

60 339 56 545 44 515 40 624 41 563

165 298 159 150 153 656 149 271 160 502

449 159 442 790 460 451 477 360 520 613

235 134 222 356 215 190 237 010 306 938

178 236 178 127 173 900 176 345 190 978

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

151 848 153 225 154 956 149 715 149 866 151 891

38 981 39 241 39 286 39 358 39 418 40 118

8 463 8 431 9 154 8 831 8 957 9 103

3 670 3 624 3 625 3 522 3 434 3 542

2 411 2 460 2 486 2 537 2 481 2 492

3 380 3 333 3 292 3 324 3 336 3 445

12 681 12 741 12 768 12 593 12 455 12 506

39 212 39 859 40 305 38 783 38 415 38 988

20 239 20 659 21 098 18 012 18 485 18 985

14 415 14 415 14 565 14 301 14 581 14 600

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

155 208 154 503 154 541 155 936 154 383 157 274

40 668 41 058 41 363 41 383 40 875 41 157

9 162 9 003 8 903 9 094 8 838 8 981

3 483 3 455 3 517 3 640 3 540 3 530

2 564 2 538 2 619 2 663 2 664 2 977

3 457 3 394 3 382 3 408 3 421 3 417

12 264 12 113 12 147 12 300 12 312 12 492

41 221 39 785 40 286 40 890 40 058 40 294

19 476 20 395 19 336 19 509 19 903 21 190

14 990 14 662 14 940 15 059 14 696 15 139

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

158 283 155 872 162 645 164 269 166 628 167 742

40 703 39 899 40 548 42 189 42 416 42 422

8 635 8 536 9 528 9 048 8 981 9 537

3 620 3 532 3 597 3 718 3 682 3 578

2 837 2 764 2 789 2 738 2 734 2 737

3 407 3 300 3 497 3 498 3 522 3 333

12 917 12 584 12 971 13 022 13 176 13 830

40 573 40 539 42 300 42 193 43 043 43 413

22 409 22 183 23 580 24 034 25 338 24 504

15 175 14 594 15 683 15 715 15 601 16 058

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

169 749 172 163 169 131 174 333 176 298 173 366

42 946 44 019 43 417 44 030 44 349 43 243

9 060 9 269 9 170 9 089 9 050 9 071

3 691 3 633 3 609 3 526 3 564 3 597

2 761 2 775 2 733 2 775 2 793 2 783

3 435 3 416 3 467 3 504 3 504 3 548

13 482 13 708 13 472 13 467 13 669 13 737

44 307 44 584 43 081 45 215 45 840 44 596

25 880 26 479 25 849 28 498 28 945 28 109

15 965 16 204 16 175 16 108 16 531 16 678

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC 3SIC tobacco only, 1958–1992.

. . . = Not available.

classification system.

345

346

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-4. Manufacturers’ Shipments—Continued (Millions of dollars, seasonally adjusted.) By topical categories Capital goods Classification basis, year and month

Construction supplies

Information technology industries

Total

Excluding aircraft and parts

Total

SIC Basis 2 1958 .................................................. 1959 ..................................................

Consumer goods

Nondefense Defense

Total

Durable

Nondurable

23 286 26 278

... ...

46 552 51 234

... ...

... ...

... ...

... ...

... ...

... ...

1960 1961 1962 1963 1964

.................................................. .................................................. .................................................. .................................................. ..................................................

25 886 25 498 27 019 28 545 30 692

... ... ... ... ...

52 171 53 762 58 711 61 186 64 837

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

.................................................. .................................................. .................................................. .................................................. ..................................................

33 287 35 643 36 210 39 621 42 493

... ... ... ... ...

71 621 84 792 94 101 99 702 105 773

... ... ... 72 405 79 568

... ... ... ... ...

... ... ... 27 297 26 205

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

.................................................. .................................................. .................................................. .................................................. ..................................................

41 945 45 559 54 119 62 228 69 146

... ... ... ... ...

102 285 98 643 107 198 124 912 143 828

78 907 79 148 87 762 103 997 122 674

... ... ... ... ...

23 378 19 495 19 436 20 915 21 154

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

.................................................. .................................................. .................................................. .................................................. ..................................................

66 984 77 948 91 883 106 017 118 024

... ... ... ... ...

149 687 162 172 185 541 217 165 254 754

126 363 135 540 155 956 186 427 222 069

... ... ... ... ...

23 324 26 632 29 585 30 738 32 685

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

.................................................. .................................................. .................................................. .................................................. ..................................................

118 429 122 844 115 777 127 781 141 230

... ... ... ... ...

287 132 317 628 312 298 316 125 361 205

246 797 269 774 252 098 242 297 278 900

... ... ... ... ...

40 335 47 854 60 200 73 828 82 305

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

.................................................. .................................................. .................................................. .................................................. ..................................................

147 103 154 113 164 865 175 594 180 083

... ... ... ... ...

388 763 396 158 404 738 438 089 450 863

293 420 289 969 295 334 333 402 350 870

... ... ... ... ...

95 343 106 189 109 404 104 687 99 993

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1990 .................................................. 1991 .................................................. 1992 ..................................................

180 604 171 876 184 498

... ... ...

473 175 467 419 481 257

370 804 369 796 389 448

... ... ...

102 371 97 623 91 809

... ... ...

... ... ...

... ... ...

NAICS Basis 1992 .................................................. 1993 .................................................. 1994 ..................................................

281 232 303 391 332 734

236 015 241 680 264 092

566 268 580 859 616 435

471 485 493 875 538 203

435 696 463 753 512 327

94 783 86 984 78 232

1 108 692 1 138 467 1 203 162

263 323 285 651 325 995

845 369 852 816 877 167

1995 1996 1997 1998 1999

.................................................. .................................................. .................................................. .................................................. ..................................................

353 198 371 401 399 880 418 756 434 138

291 885 311 028 349 846 362 564 374 384

666 167 704 635 779 232 821 736 839 754

590 578 630 932 702 971 747 046 768 799

565 729 605 295 665 074 695 717 713 042

75 589 73 703 76 261 74 690 70 955

1 267 611 1 304 283 1 369 992 1 364 326 1 438 519

335 036 339 730 371 669 385 918 426 337

932 575 964 553 998 323 978 408 1 012 182

2000 2001 2002 2003 2004

.................................................. .................................................. .................................................. .................................................. ..................................................

444 812 430 226 424 490 426 625 472 698

399 751 357 327 286 769 277 281 311 808

875 396 804 226 729 572 723 223 803 329

808 345 731 280 652 997 636 031 707 546

757 617 680 413 610 709 600 469 672 482

67 051 72 946 76 575 87 192 95 783

1 514 377 1 512 046 1 514 750 1 575 268 1 708 041

405 308 389 742 413 305 431 015 457 330

1 109 069 1 122 304 1 101 445 1 144 253 1 250 711

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

34 616 35 172 34 849 34 735 34 835 34 998

22 567 22 076 22 068 22 150 22 133 22 677

58 359 58 810 58 881 58 218 58 948 60 167

51 297 51 896 51 842 51 112 51 822 53 064

49 127 48 571 48 938 48 611 49 122 49 682

7 062 6 914 7 039 7 106 7 126 7 103

130 099 129 715 131 646 126 739 127 725 129 374

35 808 34 647 34 925 34 277 35 102 35 004

94 291 95 068 96 721 92 462 92 623 94 370

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

35 827 35 219 36 297 37 057 36 329 36 691

23 467 22 921 23 566 24 136 24 067 25 036

61 187 59 368 61 928 61 625 61 706 63 557

53 529 51 984 54 319 54 017 54 788 55 924

50 164 49 301 51 127 51 351 51 466 52 981

7 658 7 384 7 609 7 608 6 918 7 633

134 796 131 759 133 344 134 025 132 821 134 761

37 626 35 234 37 489 37 269 37 085 37 406

97 170 96 525 95 855 96 756 95 736 97 355

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

36 002 35 972 39 305 39 617 39 486 39 226

24 830 24 663 24 806 25 293 25 502 25 262

62 734 63 887 65 433 65 361 65 324 66 370

54 856 54 669 57 543 57 491 57 146 58 787

52 518 51 783 54 380 54 856 54 036 56 002

7 878 9 218 7 890 7 870 8 178 7 583

135 022 134 351 140 250 140 140 140 814 142 040

36 658 37 727 39 788 38 116 36 871 37 861

98 364 96 624 100 462 102 024 103 943 104 179

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

39 468 40 367 40 217 39 600 40 388 41 092

26 000 26 885 26 148 27 036 26 677 27 435

67 061 68 188 68 206 69 175 67 486 71 254

59 018 60 087 60 455 61 277 59 712 63 631

56 532 57 012 57 500 58 188 57 127 60 249

8 043 8 101 7 751 7 898 7 774 7 623

140 813 144 993 141 940 146 309 147 853 147 134

35 316 37 723 37 792 37 520 38 065 40 674

105 497 107 270 104 148 108 789 109 788 106 460

2Data

are for roughly similar categories in SIC classification system. . . . = Not available.

CHAPTER 17: KEY SECTOR STATISTICS Table 17-5. Manufacturers’ Inventories (Current cost basis, end of period; seasonally adjusted, except as noted; millions of dollars.) NAICS durable goods industries Total, Classification basis, not year and month seasonally adjusted 1

SIC Basis 2 1958 ...................... 1959 ......................

Total Total 1

Nonmetallic mineral products

Durables total by stage of fabrication

Primary metals

Transportation equipment

Total

Total

ComElectrical Fabputers equipment, ricated Machinery and appliances Iron and metal electronic and steel mills products products components

Motor vehicles and parts

Materials and supplies

Work in progress

Finished goods

49 995 52 671

50 203 52 913

30 194 32 012

1 217 1 351

5 153 5 109

3 287 3 109

4 186 4 244

8 630 9 682

6 650 6 943

1 815 2 211

9 970 10 709

12 408 13 086

7 816 8 217

1960 1961 1962 1963 1964

...................... ...................... ...................... ...................... ......................

53 580 54 730 58 060 59 922 63 293

53 786 54 871 58 172 60 029 63 410

32 337 32 496 34 565 35 776 38 421

1 429 1 439 1 460 1 498 1 590

5 488 5 792 5 702 5 749 5 953

3 385 3 684 3 494 3 459 3 560

4 292 4 269 4 387 4 534 5 011

9 804 9 890 11 212 11 352 12 573

6 415 6 207 6 628 7 111 7 707

2 080 2 082 2 334 2 463 2 899

10 306 10 246 10 794 11 053 11 946

12 809 13 211 14 124 14 835 16 158

9 222 9 039 9 647 9 888 10 317

1965 1966 1967 1968 1969

...................... ...................... ...................... ...................... ......................

68 028 77 745 84 388 90 235 97 749

68 207 77 986 84 646 90 560 98 145

42 189 49 852 54 896 58 732 64 598

1 669 1 784 1 827 1 918 2 051

6 199 7 031 7 553 7 547 8 066

3 617 4 075 4 417 4 207 4 451

5 696 6 347 6 729 7 506 7 666

14 340 17 242 18 279 18 925 21 480

8 430 10 454 12 852 14 413 15 942

3 289 3 470 3 516 3 879 4 067

13 298 15 464 16 423 17 344 18 636

18 055 21 908 24 933 27 213 30 282

10 836 12 480 13 540 14 175 15 680

1970 1971 1972 1973 1974

...................... ...................... ...................... ...................... ......................

101 246 102 267 107 900 124 327 157 595

101 599 102 567 108 121 124 499 157 625

66 651 66 136 70 067 81 192 101 493

2 239 2 302 2 430 2 712 3 403

8 995 9 084 9 617 10 034 13 447

4 990 4 926 5 387 5 302 6 820

7 907 8 098 8 408 9 864 13 387

22 910 22 402 23 670 28 943 36 420

14 648 13 799 14 775 16 458 19 197

4 178 4 173 4 670 5 708 6 688

19 149 19 679 20 807 25 944 35 070

29 745 28 550 30 713 35 490 42 530

17 757 17 907 18 547 19 758 23 893

1975 1976 1977 1978 1979

...................... ...................... ...................... ...................... ......................

159 844 174 867 188 435 209 113 239 101

159 708 174 636 188 378 211 691 242 157

102 590 111 988 120 877 138 181 160 734

3 594 3 841 4 095 4 710 5 183

15 742 17 699 18 261 19 420 22 446

8 597 10 035 10 004 10 719 12 012

13 091 14 304 15 527 17 296 19 145

35 266 37 839 41 204 48 249 57 030

19 620 20 886 22 423 26 170 31 638

6 101 7 814 9 078 10 357 10 978

33 903 37 457 40 186 45 198 52 670

43 227 46 074 50 226 58 848 69 325

25 460 28 457 30 465 34 135 38 739

1980 1981 1982 1983 1984

...................... ...................... ...................... ...................... ......................

261 700 279 453 307 212 307 675 334 236

265 215 283 413 311 852 312 379 339 516

174 788 186 443 200 444 199 854 221 330

5 674 6 106 6 506 6 628 7 042

23 055 25 794 24 174 22 308 22 444

12 153 13 359 12 556 11 065 11 087

19 532 20 209 21 440 21 752 23 330

62 796 67 260 73 008 71 508 80 396

35 900 37 527 43 005 43 791 50 770

9 864 9 047 8 534 10 433 11 680

55 173 57 998 59 136 60 325 66 031

76 945 80 998 86 707 86 899 98 251

42 670 47 447 54 601 52 630 57 048

1985 1986 1987 1988 1989

...................... ...................... ...................... ...................... ......................

329 555 317 567 332 619 363 300 384 539

334 749 322 654 338 109 369 374 391 212

218 193 211 997 220 799 242 468 257 513

7 040 7 093 7 154 7 496 7 792

19 974 18 436 19 076 22 422 22 838

9 709 8 567 8 620 10 495 10 942

22 880 22 094 22 920 24 950 25 427

77 075 71 041 73 000 79 352 83 965

52 634 53 363 56 461 63 202 70 968

11 809 11 445 11 937 12 310 12 503

63 904 61 331 63 562 69 611 72 435

98 162 97 000 102 393 112 958 122 251

56 127 53 666 54 844 59 899 62 827

1990 ...................... 1991 ...................... 1992 ......................

397 850 383 509 374 906

405 073 390 950 382 510

263 209 250 019 238 105

8 205 7 928 8 006

22 560 20 703 19 981

11 045 10 236 9 809

25 044 23 922 23 815

82 586 78 861 77 797

77 640 73 019 63 290

13 504 13 163 13 081

73 559 70 834 69 459

124 130 114 960 104 424

65 520 64 225 64 222

NAICS Basis 1992 ...................... 1993 ...................... 1994 ......................

369 673 370 775 390 540

378 732 379 650 399 926

238 008 238 627 253 054

8 002 7 579 7 830

17 996 17 995 20 129

9 640 9 614 10 444

26 110 26 288 28 193

36 219 37 064 40 845

44 519 43 942 47 067

12 243 12 473 13 763

66 359 64 272 64 835

17 101 18 227 20 216

69 764 72 681 78 593

104 001 101 779 106 347

64 243 64 167 68 114

1995 1996 1997 1998 1999

...................... ...................... ...................... ...................... ......................

414 969 420 680 433 451 438 845 452 803

424 896 430 593 443 723 449 182 463 709

267 375 272 533 281 119 290 735 296 591

8 434 8 736 9 004 9 033 9 446

21 459 21 768 22 509 22 057 22 063

11 285 11 672 12 248 12 358 12 073

30 304 31 317 32 471 32 909 33 508

44 624 45 364 45 922 47 128 47 431

53 597 50 904 55 234 52 073 54 991

14 168 13 931 14 083 14 014 13 999

63 118 68 072 68 833 79 917 79 657

20 788 21 167 20 746 21 214 22 609

85 512 86 259 92 300 93 587 97 886

106 511 110 448 109 873 115 195 114 095

75 352 75 826 78 946 81 953 84 610

2000 2001 2002 2003 2004

...................... ...................... ...................... ...................... ......................

470 084 436 622 412 647 407 712 438 748

481 651 447 583 423 265 418 536 450 637

306 743 279 602 260 427 253 559 274 800

9 996 9 218 9 749 9 725 9 967

21 951 19 690 19 436 18 094 22 911

12 351 10 960 10 690 9 376 13 171

34 836 31 770 31 365 31 499 36 405

50 550 47 389 41 643 40 171 44 857

65 547 54 074 46 503 44 022 45 729

15 016 13 788 12 584 11 869 12 416

71 798 69 183 63 437 61 967 63 682

22 850 20 312 21 592 22 003 23 394

106 107 94 157 87 738 83 897 94 073

111 194 103 330 92 867 91 862 96 704

89 442 82 115 79 822 77 800 84 023

2003 January ................. February ............... March .................... April ....................... May ....................... June ......................

420 633 430 093 424 302 427 460 427 751 420 351

422 701 427 018 425 625 425 541 425 096 422 830

259 311 261 382 260 291 259 739 259 182 256 645

9 727 9 971 10 132 10 189 10 296 10 325

19 526 19 721 19 617 19 553 19 502 18 942

10 743 10 942 10 923 10 893 10 914 10 231

31 224 32 751 32 972 32 495 32 572 32 387

41 291 41 346 40 911 40 926 40 681 40 313

45 866 45 690 45 194 44 647 44 221 43 670

12 574 12 496 12 438 12 399 12 346 12 192

63 143 63 190 62 680 63 249 63 222 62 666

21 653 22 031 21 601 21 812 21 762 21 614

87 158 87 995 87 347 86 590 86 700 85 974

92 472 93 293 93 037 93 677 93 518 91 884

79 681 80 094 79 907 79 472 78 964 78 787

July ....................... August ................... September ............ October ................. November ............. December .............

422 780 422 996 418 141 421 930 419 413 407 712

420 812 419 937 418 257 419 028 418 557 418 536

254 817 253 596 252 212 253 113 251 936 253 559

10 355 10 257 10 220 9 989 9 711 9 725

18 616 18 490 18 189 17 960 18 117 18 094

9 924 9 874 9 576 9 418 9 467 9 376

31 927 31 816 31 657 31 796 31 760 31 499

40 108 39 877 39 809 40 056 39 788 40 171

43 418 42 955 42 792 43 321 43 209 44 022

12 035 11 957 11 845 11 824 11 844 11 869

62 171 62 168 62 041 62 310 61 474 61 967

21 645 21 844 21 615 21 648 21 741 22 003

84 836 84 071 83 618 83 937 83 544 83 897

91 706 91 463 90 681 91 491 90 654 91 862

78 275 78 062 77 913 77 685 77 738 77 800

2004 January ................. February ............... March .................... April ....................... May ....................... June ......................

416 706 424 143 422 342 427 335 432 136 430 868

418 985 421 149 423 155 425 094 429 200 433 106

253 486 254 184 255 537 257 157 259 110 262 103

9 683 9 693 9 636 9 587 9 655 9 612

18 259 18 467 18 830 19 142 19 465 19 889

9 516 9 579 9 820 10 101 10 333 10 763

31 544 31 835 31 990 32 084 32 650 33 126

40 424 40 711 40 990 41 138 41 688 42 278

43 070 42 845 43 485 43 957 43 957 44 598

11 901 11 715 11 767 11 726 11 889 12 006

62 287 62 264 61 884 62 457 62 287 62 916

22 606 22 611 22 650 22 710 22 806 23 252

84 038 84 591 85 791 87 176 87 419 88 649

92 063 92 152 92 099 92 670 93 049 93 941

77 385 77 441 77 647 77 311 78 642 79 513

July ....................... August ................... September ............ October ................. November ............. December .............

439 661 443 713 441 048 448 137 450 705 438 748

437 473 440 509 441 152 445 357 450 148 450 637

264 967 267 232 268 297 270 894 274 026 274 800

9 653 9 721 9 721 9 920 9 967 9 967

20 069 20 635 21 225 22 075 22 596 22 911

10 840 11 370 11 886 12 575 12 926 13 171

33 749 34 442 34 849 35 213 35 672 36 405

42 846 43 320 43 614 43 765 44 663 44 857

44 960 44 970 44 930 45 685 45 561 45 729

12 162 12 363 12 412 12 372 12 350 12 416

63 691 63 573 63 094 63 116 64 219 63 682

23 138 23 359 23 654 23 571 23 774 23 394

89 969 90 483 91 076 92 560 93 809 94 073

95 079 95 123 94 323 95 398 96 868 96 704

79 919 81 626 82 898 82 936 83 349 84 023

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC

definitions.

classification system. Data prior to 1982 are not comparable to subsequent periods due to changes in inventory valuation methods; see notes and

347

348

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-5. Manufacturers’ Inventories— Continued (Current cost basis, end of period; seasonally adjusted, except as noted; millions of dollars.) NAICS nondurable goods industries Classification basis, year and month

Total 1

SIC Basis 2 1958 ............................. 1959 .............................

Food products

Beverage and tobacco products 3

Textile products

Textiles

Apparel

Nondurables total by stage of fabrication

Paper products

Basic chemicals

Petroleum and coal products

Plastics and rubber products

Materials and supplies

Work in process

Finished goods

20 009 20 901

5 302 5 338

1 982 2 082

2 148 2 238

... ...

1 430 1 506

2 995 3 189

1 634 1 700

1 033 1 130

8 676 9 094

2 827 2 942

8 506 8 865

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

21 449 22 375 23 607 24 253 24 989

5 492 5 877 6 198 6 449 6 629

2 193 2 410 2 404 2 314 2 306

2 301 2 418 2 585 2 621 2 682

... ... ... ... ...

1 543 1 576 1 702 1 761 1 783

3 298 3 401 3 659 3 775 3 959

1 667 1 715 1 786 1 776 1 760

1 163 1 172 1 277 1 336 1 430

9 097 9 505 9 836 10 009 10 167

2 947 3 108 3 304 3 420 3 531

9 405 9 762 10 467 10 824 11 291

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

26 018 28 134 29 750 31 828 33 547

6 485 6 973 7 484 8 009 8 329

2 279 2 206 2 275 2 218 2 188

2 868 3 045 3 181 3 610 3 670

... ... ... ... ...

1 938 2 170 2 236 2 309 2 399

4 392 4 951 5 306 5 542 6 173

1 761 1 808 1 961 2 035 2 085

1 549 1 771 1 840 2 018 2 215

10 487 11 197 11 760 12 328 12 753

3 825 4 226 4 431 4 852 5 120

11 706 12 711 13 559 14 648 15 674

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

34 948 36 431 38 054 43 307 56 132

8 738 9 258 9 673 11 627 14 625

2 052 2 099 2 355 2 426 3 024

3 676 3 866 4 056 4 592 5 044

... ... ... ... ...

2 735 2 828 2 896 3 317 4 816

6 749 6 923 7 079 7 553 11 579

2 161 2 260 2 142 2 476 3 945

2 386 2 453 2 695 3 103 4 023

13 168 13 686 14 677 18 147 23 744

5 271 5 678 5 998 6 729 8 189

16 509 17 067 17 379 18 431 24 199

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

57 118 62 648 67 501 73 510 81 423

14 467 15 695 16 329 18 073 19 879

3 290 3 416 3 511 3 669 3 517

4 794 5 232 5 649 5 935 6 148

... ... ... ... ...

4 849 5 299 5 667 6 114 6 926

12 073 13 319 14 633 16 018 17 690

4 426 4 711 5 439 5 330 7 458

4 085 4 581 5 116 5 801 6 399

23 565 25 847 27 387 29 619 32 814

8 834 9 929 10 961 12 085 13 910

24 719 26 872 29 153 31 806 34 699

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

90 427 96 970 111 408 112 525 118 186

21 710 21 483 23 016 23 609 24 182

3 721 4 436 6 873 6 746 6 533

6 648 6 896 6 723 7 514 7 827

... ... ... ... ...

7 802 8 593 9 022 9 192 10 299

20 066 22 438 24 448 24 698 26 420

9 693 10 420 17 009 14 843 14 260

6 435 6 968 7 748 8 070 8 904

36 606 38 165 44 039 44 816 45 692

15 884 16 194 18 612 18 691 19 328

37 937 42 611 48 757 49 018 53 166

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

116 556 110 657 117 310 126 906 133 699

24 015 23 884 24 860 27 122 28 459

5 943 5 449 5 331 5 286 5 570

7 439 7 191 7 939 8 384 8 721

... ... ... ... ...

10 140 10 254 11 163 12 495 13 404

26 119 25 743 26 585 29 792 31 725

13 975 8 791 9 973 9 196 10 743

9 213 9 285 10 065 11 367 11 533

44 106 42 335 45 319 49 396 50 674

19 442 18 124 19 270 20 559 21 653

53 008 50 198 52 721 56 951 61 372

1990 ............................. 1991 ............................. 1992 .............................

141 864 140 931 144 405

29 714 30 099 30 996

5 974 6 342 6 668

8 732 8 484 8 710

... ... ...

13 640 13 796 14 010

34 001 34 529 35 720

13 432 11 671 11 350

12 292 12 121 12 541

52 645 53 011 54 007

22 817 22 815 23 532

66 402 65 105 66 866

NAICS Basis 1992 ............................. 1993 ............................. 1994 .............................

140 724 141 023 146 872

26 452 26 625 27 564

11 641 11 295 10 964

6 468 6 840 7 192

3 515 3 642 3 931

8 925 10 098 10 493

13 421 13 437 13 723

37 548 37 821 38 860

11 666 10 480 11 317

12 660 12 846 14 299

53 239 54 342 57 230

23 338 23 341 24 417

64 147 63 340 65 225

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

157 521 158 060 162 604 158 447 167 118

29 271 29 588 29 947 29 214 30 484

11 433 12 378 13 798 13 905 13 811

7 624 7 239 6 892 6 942 6 908

4 113 4 094 4 547 4 221 4 424

10 492 8 796 9 689 9 507 9 848

16 584 15 276 15 193 14 828 15 174

42 015 43 330 45 256 45 540 48 470

11 499 12 787 12 188 9 693 12 162

15 310 15 800 16 169 16 188 17 231

60 802 59 173 60 220 58 259 61 103

25 783 26 461 28 514 27 085 28 808

70 936 72 426 73 870 73 103 77 207

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

174 908 167 981 162 838 164 977 175 837

31 768 33 214 31 529 31 773 32 350

14 034 14 451 14 689 14 498 14 534

6 489 5 803 4 954 4 760 4 500

4 924 4 612 3 512 3 610 3 661

9 550 8 225 6 060 5 764 5 858

15 345 14 749 14 446 13 724 13 992

52 388 50 341 49 150 50 421 54 480

13 782 12 048 15 388 17 189 20 065

18 026 16 669 16 020 16 343 18 838

61 503 58 230 56 572 57 557 59 830

30 107 27 617 28 207 28 517 29 009

83 298 82 134 78 059 78 903 86 998

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

163 390 165 636 165 334 165 802 165 914 166 185

31 646 31 949 32 120 31 757 32 061 31 849

14 563 14 557 14 491 14 751 14 666 14 565

4 959 4 970 5 002 5 032 5 032 5 054

3 552 3 581 3 573 3 594 3 587 3 560

6 120 6 165 6 207 6 274 6 266 6 171

14 457 14 425 14 090 14 189 14 195 14 233

48 992 50 100 49 820 49 839 50 116 50 286

15 861 16 339 16 475 16 588 16 123 16 605

16 037 16 423 16 438 16 700 16 800 16 908

57 733 58 302 57 578 58 133 58 201 57 689

28 216 28 780 29 037 28 697 28 557 28 826

77 441 78 554 78 719 78 972 79 156 79 670

July .............................. August .......................... September ................... October ........................ November .................... December ....................

165 995 166 341 166 045 165 915 166 621 164 977

31 722 31 752 31 782 32 022 32 271 31 773

14 645 14 582 14 573 14 678 14 799 14 498

4 977 4 923 4 942 4 841 4 812 4 760

3 554 3 569 3 530 3 517 3 566 3 610

6 203 6 102 6 023 5 918 5 842 5 764

14 124 14 075 14 040 13 954 13 908 13 724

50 629 50 662 50 594 50 526 51 072 50 421

16 437 17 141 17 158 17 259 17 121 17 189

16 698 16 574 16 461 16 352 16 311 16 343

57 084 57 476 57 698 57 537 57 862 57 557

29 157 29 149 28 867 29 077 29 664 28 517

79 754 79 716 79 480 79 301 79 095 78 903

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

165 499 166 965 167 618 167 937 170 090 171 003

31 718 31 719 31 934 31 759 32 097 32 194

14 526 14 687 14 560 14 469 14 417 14 541

4 697 4 662 4 668 4 645 4 624 4 614

3 539 3 525 3 533 3 554 3 546 3 571

5 674 5 521 5 522 5 453 5 443 5 548

13 647 13 578 13 472 13 415 13 596 13 604

50 292 51 367 51 907 52 411 52 681 53 135

18 118 18 482 18 446 18 507 19 680 19 507

16 393 16 437 16 627 16 735 16 829 17 136

57 812 58 524 58 379 58 484 58 390 58 494

28 695 29 013 29 340 29 560 28 891 29 224

78 992 79 428 79 899 79 893 82 809 83 285

July .............................. August .......................... September ................... October ........................ November .................... December ....................

172 506 173 277 172 855 174 463 176 122 175 837

32 297 32 081 32 086 31 933 31 836 32 350

14 505 14 971 14 887 14 755 14 695 14 534

4 593 4 567 4 560 4 517 4 505 4 500

3 594 3 601 3 650 3 673 3 664 3 661

5 593 5 707 5 775 5 819 5 836 5 858

13 861 13 854 13 792 14 000 14 040 13 992

53 063 53 438 52 814 52 767 53 608 54 480

20 298 19 968 19 755 20 997 21 692 20 065

17 491 17 821 18 167 18 525 18 780 18 838

59 324 59 334 59 211 59 772 59 905 59 830

28 712 28 663 28 105 28 406 28 731 29 009

84 470 85 280 85 539 86 285 87 486 86 998

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC

definitions. tobacco only, 1958–1992. . . . = Not available. 3SIC

classification system. Data prior to 1982 are not comparable to subsequent periods due to changes in inventory valuation methods; see notes and

CHAPTER 17: KEY SECTOR STATISTICS

349

Table 17-5. Manufacturers’ Inventories— Continued (Current cost basis, end of period; seasonally adjusted, except as noted; millions of dollars.) By topical categories Capital goods Classification basis, year and month

Construction supplies

Information technology industries

Total

Excluding aircraft and parts

Total

SIC Basis 2 1958 ............................. 1959 .............................

Consumer goods

Nondefense Defense

Total

Durable

Nondurable

3 762 3 978

... ...

11 381 11 959

... ...

... ...

... ...

... ...

... ...

... ...

1960 1961 1962 1963 1964

............................. ............................. ............................. ............................. .............................

4 079 4 092 4 223 4 295 4 551

... ... ... ... ...

11 737 11 651 12 960 13 180 14 267

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

............................. ............................. ............................. ............................. .............................

4 868 5 325 5 431 5 805 6 378

... ... ... ... ...

15 843 19 791 23 499 25 709 28 652

... ... ... 18 158 20 883

... ... ... ... ...

... ... ... 7 551 7 769

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

6 867 7 145 7 603 8 696 11 076

... ... ... ... ...

27 859 26 587 27 667 32 032 39 605

22 810 22 455 23 337 27 460 34 583

... ... ... ... ...

5 049 4 132 4 330 4 572 5 022

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

11 267 12 540 13 509 15 100 16 908

... ... ... ... ...

40 181 41 046 44 014 52 237 63 816

34 289 34 449 37 781 45 660 55 393

... ... ... ... ...

5 892 6 597 6 233 6 577 8 423

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

17 513 18 328 18 580 19 309 20 552

... ... ... ... ...

74 531 81 112 92 601 89 562 102 615

63 692 67 616 73 748 68 420 75 466

... ... ... ... ...

10 839 13 496 18 853 21 142 27 149

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

20 555 20 348 21 158 22 925 23 326

... ... ... ... ...

102 843 99 104 103 167 114 207 124 850

71 763 67 631 68 734 77 448 86 897

... ... ... ... ...

31 080 31 473 34 433 36 759 37 953

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1990 ............................. 1991 ............................. 1992 .............................

23 714 22 509 22 779

... ... ...

128 997 121 629 110 261

90 894 88 958 84 351

... ... ...

38 103 32 671 25 910

... ... ...

... ... ...

... ... ...

NAICS Basis 1992 ............................. 1993 ............................. 1994 .............................

36 718 38 258 40 880

40 194 39 146 41 532

120 513 118 413 123 341

97 423 97 139 103 361

78 984 79 607 85 764

23 090 21 274 19 980

104 399 105 941 110 843

21 950 22 960 25 216

82 449 82 981 85 627

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

43 438 44 166 45 777 46 553 48 546

46 854 43 556 48 133 45 398 46 198

129 649 132 787 137 621 145 217 146 456

111 534 115 244 122 614 127 213 126 373

94 648 93 468 98 866 97 419 99 652

18 115 17 543 15 007 18 004 20 083

117 986 117 973 121 161 118 770 125 636

26 777 26 274 26 311 26 191 27 421

91 209 91 699 94 850 92 579 98 215

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

50 553 46 191 46 481 46 828 51 837

52 786 43 866 39 336 37 256 38 040

149 258 137 301 122 161 117 897 124 078

131 818 119 186 108 512 102 624 108 316

110 230 98 305 88 693 84 922 91 207

17 440 18 115 13 649 15 273 15 762

132 319 128 424 126 747 128 847 135 897

28 650 26 073 27 180 27 342 30 586

103 669 102 351 99 567 101 505 105 311

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

46 401 48 311 48 676 48 429 48 208 47 911

38 860 38 578 38 525 38 070 37 686 37 228

121 327 120 535 120 160 119 482 119 344 118 566

107 856 106 907 106 636 105 625 105 484 104 325

88 013 87 728 87 318 86 317 86 120 85 427

13 471 13 628 13 524 13 857 13 860 14 241

127 502 129 531 128 533 128 812 128 552 128 483

27 516 27 712 27 225 27 627 27 515 27 309

99 986 101 819 101 308 101 185 101 037 101 174

July .............................. August .......................... September ................... October ........................ November .................... December ....................

47 505 47 249 46 979 46 930 46 798 46 828

36 954 36 672 36 954 37 058 36 973 37 256

117 254 116 936 116 996 117 524 116 851 117 897

103 106 102 658 102 792 103 061 102 254 102 624

85 027 84 626 84 477 84 788 84 575 84 922

14 148 14 278 14 204 14 463 14 597 15 273

128 844 129 363 129 066 129 632 129 656 128 847

27 511 27 400 27 028 27 273 27 194 27 342

101 333 101 963 102 038 102 359 102 462 101 505

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

46 753 47 157 47 552 47 702 48 331 48 671

36 349 36 033 36 097 36 306 36 409 36 855

117 084 117 349 117 440 117 803 118 512 119 809

102 036 102 072 102 348 102 728 103 264 104 296

84 361 84 500 84 889 84 966 85 917 86 960

15 048 15 277 15 092 15 075 15 248 15 513

129 700 130 974 131 625 132 220 133 876 134 683

28 031 28 018 28 121 28 498 28 575 29 143

101 669 102 956 103 504 103 722 105 301 105 540

July .............................. August .......................... September ................... October ........................ November .................... December ....................

49 385 50 159 50 644 51 040 51 527 51 837

36 956 37 220 37 551 37 715 37 768 38 040

121 118 121 542 121 486 121 873 123 834 124 078

105 962 106 505 106 394 106 683 108 449 108 316

87 679 88 349 89 069 89 543 90 841 91 207

15 156 15 037 15 092 15 190 15 385 15 762

135 559 135 954 135 449 136 127 137 100 135 897

29 409 29 988 30 333 30 519 30 653 30 586

106 150 105 966 105 116 105 608 106 447 105 311

2Data

are for roughly similar categories in SIC classification system. Data prior to 1982 are not comparable to subsequent periods due to changes in inventory valuation methods; see notes and definitions. . . . = Not available.

350

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-6. Manufacturers’ New Orders (Net, millions of dollars, seasonally adjusted.) NAICS durable goods industries Primary metals Classification basis, year and month

Total 1 Total 1 Total 1

SIC Basis 2 1959 ............................

Iron and steel mills

Aluminum Fabricated and metal nonferrous products metal products

Machinery

Electrical Comequipment, puters and appliances electronic and products components

Transportation equipment

Total 1

Motor vehicles and parts

NonDefense defense aircraft and aircraft and parts parts

368 255

191 744

34 503

21 009

...

24 102

49 044

44 712

...

...

1960 1961 1962 1963 1964

............................ ............................ ............................ ............................ ............................

362 759 373 400 401 255 426 084 459 210

183 455 189 032 208 351 224 048 246 088

26 354 32 069 31 179 34 780 41 521

13 603 18 647 16 635 19 122 23 758

... ... ... ... ...

23 410 24 225 26 364 27 903 30 360

47 245 49 867 54 722 58 745 66 005

47 481 43 138 53 728 57 625 61 607

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

............................ ............................ ............................ ............................ ............................

505 792 556 494 564 616 607 127 648 289

279 432 313 954 309 632 336 614 358 509

43 380 49 111 45 100 48 089 54 880

22 590 25 134 23 435 24 416 27 247

... ... ... ... ...

33 998 38 501 41 618 45 158 47 446

76 429 89 417 87 944 91 468 102 664

73 803 80 607 75 979 85 893 83 945

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

............................ 624 541 ............................ 671 134 ............................ 770 056 ............................ 912 279 ............................ 1 047 811

328 079 358 856 420 455 511 525 562 339

51 793 51 284 61 447 78 395 98 831

25 521 25 571 30 996 39 413 51 047

... ... ... ... ...

43 990 44 305 52 879 64 733 74 281

96 439 98 525 119 643 147 437 164 985

67 380 89 900 96 501 118 194 114 081

... ... ... ... ...

17 417 22 459 20 963 26 669 29 934

1975 1976 1977 1978 1979

............................ ............................ ............................ ............................ ............................

1 022 133 1 194 759 1 382 309 1 579 715 1 771 603

503 485 615 680 732 422 867 335 953 796

75 034 94 491 105 689 124 741 139 783

38 611 47 212 52 103 62 648 66 968

... ... ... ... ...

64 349 76 372 92 028 105 182 117 428

147 473 174 459 206 245 246 832 281 974

109 050 143 502 175 446 213 539 223 226

... ... ... ... ...

26 869 31 851 40 625 54 600 67 818

1980 1981 1982 1983 1984

............................ ............................ ............................ ............................ ............................

1 877 053 2 015 982 1 944 671 2 106 726 2 314 256

952 701 1 003 845 936 764 1 057 677 1 201 964

134 416 137 286 98 445 113 884 118 354

62 473 67 457 43 013 49 123 50 719

... ... ... ... ...

116 195 123 245 113 399 122 760 141 650

295 085 324 629 296 904 321 010 377 650

202 584 203 482 209 325 261 359 295 202

... ... ... ... ...

72 514 63 530 73 365 86 952 91 620

1985 1986 1987 1988 1989

............................ ............................ ............................ ............................ ............................

2 346 410 2 340 899 2 510 890 2 737 716 2 872 514

1 228 268 1 243 761 1 329 712 1 464 916 1 512 664

112 276 108 218 125 989 152 578 152 814

49 079 46 408 54 763 64 002 62 752

... ... ... ... ...

142 300 143 541 150 716 158 170 160 037

381 747 372 849 394 381 439 266 449 533

311 482 327 541 348 224 389 635 411 434

... ... ... ... ...

100 889 107 993 114 835 137 443 153 430

1990 ............................ 2 931 275 1991 ............................ 2 866 841 1992 ............................ 2 977 116

1 507 001 1 438 187 1 515 694

149 338 134 657 136 849

63 369 56 366 58 002

... ... ...

163 285 158 401 165 793

454 642 441 109 476 574

395 737 363 366 377 147

... ... ...

150 329 132 645 110 830

NAICS Basis 3 1992 ............................ ... 1993 ............................ 2 960 015 1994 ............................ 3 199 686

... 1 544 062 1 725 635

... 128 895 146 503

... 62 580 67 619

... 53 733 64 594

... 175 990 196 567

... 202 848 232 226

... 248 104 274 776

... 88 263 96 919

... 427 966 487 253

... 311 928 367 306

... 38 427 39 309

... 32 569 31 524

1995 1996 1997 1998 1999

............................ ............................ ............................ ............................ ............................

3 426 503 3 567 384 3 779 835 3 808 143 3 957 242

1 849 641 1 948 793 2 092 520 2 139 918 2 252 091

159 957 158 066 171 407 160 743 156 968

72 600 71 301 78 577 72 378 70 924

72 264 70 657 74 974 71 274 68 469

214 488 227 447 247 839 253 847 258 116

251 307 258 405 272 998 278 100 278 277

311 275 327 288 363 635 372 433 402 216

101 409 104 837 113 411 115 711 120 774

508 133 552 024 581 780 600 205 660 215

378 886 385 712 422 427 440 934 499 527

57 454 72 094 85 797 84 150 81 619

27 736 32 520 23 280 23 854 25 717

2000 2001 2002 2003 2004

............................ ............................ ............................ ............................ ............................

4 161 472 3 917 225 3 816 100 3 950 626 4 334 124

2 326 576 2 097 426 2 023 637 2 108 750 2 318 643

153 625 135 902 138 077 138 955 176 022

68 181 60 463 61 909 63 121 82 087

67 122 58 835 61 334 61 005 75 629

270 021 255 179 241 428 245 404 278 365

294 608 263 754 247 841 271 981 295 210

436 415 352 220 277 543 290 070 332 968

126 196 113 930 104 038 101 253 108 589

663 326 605 854 625 782 665 858 701 903

468 470 438 837 470 172 487 682 510 692

99 249 75 024 61 719 64 599 82 838

31 326 36 587 40 449 48 643 36 666

2003 January ....................... February ..................... March .......................... April ............................. May ............................. June ............................

319 530 325 319 325 377 319 226 320 436 324 474

167 682 172 094 170 421 169 511 170 570 172 583

11 548 11 513 10 503 11 195 11 153 11 294

5 050 5 430 4 451 5 117 5 165 5 073

5 265 4 803 4 864 4 852 4 834 5 008

19 186 21 637 19 843 19 424 19 976 20 119

21 395 20 670 22 285 21 084 21 424 21 971

22 993 22 730 22 979 22 626 23 598 23 104

8 312 8 227 8 593 8 293 8 156 8 551

51 793 54 662 54 684 54 871 54 163 55 138

40 366 39 873 39 564 39 031 38 976 39 368

5 050 4 693 3 500 5 764 4 869 6 482

2 516 3 312 5 150 5 155 5 374 3 981

July ............................. August ......................... September .................. October ....................... November ................... December ...................

330 349 328 336 333 335 341 585 338 291 346 584

175 141 173 833 178 794 185 649 183 908 189 310

11 384 11 553 11 386 12 870 12 587 12 248

5 020 5 388 4 962 6 164 5 937 5 481

5 116 5 007 5 129 5 371 5 405 5 492

20 531 19 919 20 769 21 409 21 253 21 574

22 129 22 502 23 046 23 132 24 672 28 066

23 863 24 831 25 332 26 464 24 997 26 057

8 348 8 422 8 575 8 771 8 594 8 413

55 984 53 743 55 991 58 199 57 482 59 649

42 348 38 884 42 817 42 696 41 910 42 760

5 957 5 045 5 619 6 040 5 191 5 981

3 205 3 683 3 902 4 046 3 601 4 714

2004 January ....................... February ..................... March .......................... April ............................. May ............................. June ............................

336 711 337 355 361 145 354 388 356 415 359 932

178 428 181 483 198 500 190 119 189 787 192 190

12 603 13 437 14 467 13 801 14 482 14 578

5 440 5 972 6 452 6 349 6 725 6 845

5 844 6 045 6 494 6 002 6 241 6 255

22 123 21 716 23 452 23 664 22 676 22 873

22 325 20 512 27 602 23 659 24 311 24 285

25 292 26 550 27 971 26 482 27 821 26 771

8 618 8 724 9 070 9 535 8 994 8 509

53 742 57 767 61 056 57 983 55 997 59 659

41 355 42 875 45 448 43 249 41 459 42 366

4 028 5 133 6 075 5 628 6 573 6 239

2 507 3 908 2 662 2 681 2 648 5 660

July ............................. August ......................... September .................. October ....................... November ................... December ...................

364 652 367 598 364 352 366 812 375 215 375 820

194 903 195 435 195 221 192 479 198 917 202 454

15 562 15 915 15 308 14 556 15 658 15 587

7 665 7 897 7 283 6 532 7 561 7 384

6 297 6 448 6 432 6 450 6 478 6 578

22 632 23 838 22 968 23 987 23 953 24 022

23 963 25 059 25 558 25 620 24 267 27 496

26 345 27 594 30 537 28 684 27 889 29 582

9 112 9 429 9 255 8 895 9 564 8 633

62 336 57 716 55 829 55 126 60 859 59 710

39 905 42 647 42 317 40 784 41 335 43 849

12 649 6 868 5 669 5 485 10 026 7 720

2 877 2 688 2 246 3 315 3 264 2 114

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC classification 3Data excludes semiconductors. See notes and definitions.

. . . = Not available.

system.

CHAPTER 17: KEY SECTOR STATISTICS

351

Table 17-6. Manufacturers’ New Orders—Continued (Net, millions of dollars, seasonally adjusted.) By topical categories Capital goods Classification basis, year and month

Construction supplies

Information technology industries

Total

Excluding aircraft and parts

Total

SIC Basis 2 1959 ............................

Consumer goods

Nondefense Defense

Total

Durable

Nondurable

...

...

...

...

...

...

...

...

...

1960 1961 1962 1963 1964

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1965 1966 1967 1968 1969

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... 84 549

... ... ... ... ...

... ... ... ... 23 790

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1970 1971 1972 1973 1974

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

72 866 80 185 92 943 119 108 139 131

... ... ... ... ...

21 311 18 787 20 467 23 409 26 033

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1975 1976 1977 1978 1979

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

118 635 137 875 164 168 211 056 253 844

... ... ... ... ...

24 765 30 616 34 624 41 511 33 795

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

253 619 261 666 230 555 235 489 284 022

... ... ... ... ...

58 256 58 881 81 415 96 105 103 504

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1985 1986 1987 1988 1989

............................ ............................ ............................ ............................ ............................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

294 544 287 786 313 127 373 294 395 855

... ... ... ... ...

109 505 111 879 111 639 102 728 93 398

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1990 ............................ 1991 ............................ 1992 ............................

... ... ...

... ... ...

... ... ...

399 966 365 655 378 293

... ... ...

96 638 87 213 76 155

... ... ...

... ... ...

... ... ...

NAICS Basis 3 1992 ............................ 1993 ............................ 1994 ............................

... 304 264 335 962

... 239 387 265 010

... 561 097 616 252

... 488 166 542 094

... 466 433 523 461

... 72 931 74 158

... 1 139 096 1 203 225

... 286 280 326 058

... 852 816 877 167

1995 1996 1997 1998 1999

............................ ............................ ............................ ............................ ............................

355 161 373 536 403 860 419 330 435 034

297 605 310 074 352 700 365 723 389 160

680 857 737 268 792 859 809 727 840 603

612 132 648 797 728 362 745 600 772 703

576 769 607 174 676 119 698 279 728 089

68 725 88 471 64 497 64 127 67 900

1 268 660 1 305 517 1 372 919 1 364 268 1 440 903

336 085 340 964 374 596 385 860 428 721

932 575 964 553 998 323 978 408 1 012 182

2000 2001 2002 2003 2004

............................ ............................ ............................ ............................ ............................

446 792 426 392 421 878 426 596 477 198

409 500 347 051 270 745 280 648 320 862

910 933 781 508 702 097 757 404 834 245

831 335 698 785 629 302 658 167 732 880

767 754 663 396 593 137 623 182 684 275

79 598 82 723 72 795 99 237 101 365

1 515 799 1 509 420 1 514 341 1 574 938 1 709 655

406 730 387 116 412 896 430 685 458 944

1 109 069 1 122 304 1 101 445 1 144 253 1 250 711

2003 January ....................... February ..................... March .......................... April ............................. May ............................. June ............................

34 024 36 355 34 402 34 020 34 497 34 761

22 479 22 248 22 706 22 359 22 756 22 512

58 221 60 215 62 391 62 171 61 906 61 694

52 302 51 475 53 140 53 056 53 537 53 680

49 725 49 052 51 888 49 521 51 153 50 503

5 919 8 740 9 251 9 115 8 369 8 014

130 002 130 264 130 911 126 945 127 474 129 253

35 711 35 196 34 190 34 483 34 851 34 883

94 291 95 068 96 721 92 462 92 623 94 370

July ............................. August ......................... September .................. October ....................... November ................... December ...................

35 683 35 467 36 742 37 411 36 656 36 620

23 041 23 988 24 202 25 232 23 746 25 031

61 647 63 626 62 986 65 366 64 962 71 719

54 827 54 081 55 920 57 034 57 140 61 491

50 625 51 165 52 949 53 673 54 475 58 437

6 820 9 545 7 066 8 332 7 822 10 228

134 610 131 388 133 167 134 631 133 305 134 581

37 440 34 863 37 312 37 875 37 569 37 226

97 170 96 525 95 855 96 756 95 736 97 355

2004 January ....................... February ..................... March .......................... April ............................. May ............................. June ............................

36 785 36 771 39 989 41 016 39 843 38 907

24 407 25 694 26 881 25 461 26 601 25 608

62 148 63 557 72 120 66 602 66 405 69 473

53 765 53 813 62 962 58 295 59 396 59 679

52 048 51 378 60 091 55 122 55 930 56 200

8 383 9 744 9 158 8 307 7 009 9 794

135 146 134 195 140 418 139 764 141 289 142 127

36 782 37 571 39 956 37 740 37 346 37 948

98 364 96 624 100 462 102 024 103 943 104 179

July ............................. August ......................... September .................. October ....................... November ................... December ...................

38 745 41 096 39 678 40 369 40 752 41 494

25 778 26 325 29 650 28 008 26 998 28 153

74 256 69 197 71 069 70 331 73 354 72 895

66 582 61 282 62 490 60 162 65 347 66 430

56 944 57 173 60 158 57 610 58 012 61 684

7 674 7 915 8 579 10 169 8 007 6 465

140 752 145 187 142 240 146 399 148 947 146 992

35 255 37 917 38 092 37 610 39 159 40 532

105 497 107 270 104 148 108 789 109 788 106 460

2Data 3Data

are for roughly similar categories in SIC classification system. excludes semiconductors. See notes and definitions. . . . = Not available.

352

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-7. Manufacturers’ Unfilled Orders, Durable Goods Industries (End of period, millions of dollars, seasonally adjusted.) Seasonally adjusted, NAICS industries

Classification basis, year and month

SIC Basis 2 1958 ............................... 1959 ...............................

Not seasonally adjusted, total

Primary metals Total 1 Total 1

Iron and steel mills

Aluminum and nonferrous metal products

Fabricated metal products

Machinery

Computers and electronic products

44 090 48 666

43 807 48 369

5 019 8 018

3 521 6 143

1 151 1 382

4 222 4 615

10 539 12 228

Electrical equipment, appliances and components

1960 1961 1962 1963 1964

............................... ............................... ............................... ............................... ...............................

41 681 43 496 44 889 49 879 60 640

41 650 43 582 45 170 50 346 61 315

3 334 4 791 3 518 3 952 6 686

1 877 3 314 1 957 2 170 4 386

1 156 1 131 1 169 1 319 1 696

4 079 4 634 4 858 5 955 7 484

11 028 11 540 12 282 14 602 18 203

1965 1966 1967 1968 1969

............................... ............................... ............................... ............................... ...............................

73 754 92 303 99 140 104 263 109 936

74 459 93 002 99 735 104 393 110 161

6 086 7 267 7 228 6 591 7 991

3 003 3 601 3 921 3 416 4 283

2 238 2 753 2 572 2 472 2 876

9 111 10 814 12 346 13 813 15 128

23 395 29 339 30 296 30 969 35 490

1970 1971 1972 1973 1974

............................... ............................... ............................... ............................... ...............................

100 139 99 906 112 517 148 421 180 686

100 412 100 225 113 034 149 204 181 519

7 796 7 478 10 470 16 129 19 225

4 617 4 380 6 681 9 794 11 054

2 663 2 552 3 116 4 962 5 952

14 877 13 688 15 077 21 019 28 100

33 618 33 318 39 344 54 070 67 403

1975 1976 1977 1978 1979

............................... ............................... ............................... ............................... ...............................

160 993 169 198 191 603 246 162 288 834

161 664 169 857 193 323 248 281 291 321

13 266 14 684 17 298 23 969 26 320

7 345 7 776 9 435 12 932 12 485

4 015 4 891 5 483 7 393 9 457

24 008 22 810 25 152 29 137 33 131

62 437 65 905 72 025 86 452 99 105

1980 1981 1982 1983 1984

............................... ............................... ............................... ............................... ...............................

312 508 311 628 297 851 329 758 356 446

315 202 314 707 300 798 333 114 359 651

26 815 22 024 15 500 20 400 18 362

13 418 10 589 6 574 9 431 8 103

10 096 8 784 7 418 9 594 8 694

33 296 33 036 27 117 26 752 30 254

100 730 102 123 86 503 93 145 97 433

1985 1986 1987 1988 1989

............................... ............................... ............................... ............................... ...............................

369 362 374 264 406 444 449 859 484 623

372 097 376 699 408 688 452 150 487 098

18 331 18 590 24 340 27 079 24 120

8 248 8 897 11 828 11 508 9 479

8 361 7 783 10 300 12 974 11 824

29 197 29 633 32 973 31 661 27 629

96 882 91 209 96 609 104 285 102 985

1990 ............................... 1991 ............................... 1992 ...............................

506 311 492 500 466 328

509 124 495 802 469 381

24 768 23 075 21 636

10 120 9 290 8 897

11 258 10 609 9 925

25 859 24 516 23 725

102 373 96 800 97 999

NAICS Basis 3 1992 ............................... 1993 ............................... 1994 ...............................

447 770 422 314 430 982

450 975 425 833 434 941

18 699 20 754 24 334

9 199 12 322 12 860

7 254 6 403 9 333

29 793 27 835 30 328

41 267 43 102 50 632

84 540 81 239 82 447

12 158 12 799 14 260

1995 1996 1997 1998 1999

............................... ............................... ............................... ............................... ...............................

443 497 484 865 508 480 491 858 500 749

447 487 488 915 513 202 496 385 505 750

23 486 23 869 27 275 21 690 22 054

13 452 12 874 14 608 10 888 11 736

7 980 8 711 9 950 8 298 8 241

32 389 36 928 42 096 42 223 43 351

55 843 56 875 59 323 56 593 57 930

88 852 87 916 90 896 94 836 113 900

14 608 14 102 15 426 15 079 17 581

2000 2001 2002 2003 2004

............................... ............................... ............................... ............................... ...............................

544 517 507 149 464 137 501 561 543 566

549 646 511 596 468 123 505 626 547 944

18 951 17 332 15 921 18 128 21 324

9 308 8 938 8 788 10 810 12 187

7 210 5 943 4 888 4 898 6 302

45 212 41 397 35 995 36 835 43 340

60 963 55 966 50 683 68 981 75 640

130 869 116 746 97 235 100 334 109 425

18 305 15 213 14 787 14 281 15 798

2003 January .......................... February ........................ March ............................. April ................................ May ................................ June ...............................

470 088 475 632 478 979 480 689 479 825 478 303

466 700 469 240 470 657 472 824 474 434 476 778

15 735 15 824 15 017 14 979 14 851 15 144

8 563 8 793 8 055 8 006 8 065 8 239

4 911 4 732 4 684 4 671 4 534 4 631

35 415 36 440 36 053 35 302 35 075 35 051

51 646 51 888 53 152 53 733 53 873 54 380

97 201 97 170 97 392 97 137 97 839 97 428

14 486 14 357 14 570 14 489 14 323 14 512

July ................................ August ............................ September ..................... October .......................... November ...................... December ......................

476 268 476 647 475 544 481 893 487 255 501 561

476 506 480 975 482 733 490 762 497 025 505 626

15 199 15 708 15 799 17 045 17 940 18 128

8 294 8 823 8 811 9 925 10 689 10 810

4 603 4 587 4 629 4 672 4 810 4 898

34 859 34 863 35 204 35 876 36 477 36 835

55 560 57 151 58 401 60 237 63 520 68 981

97 034 98 043 98 775 100 178 100 220 100 334

14 319 14 506 14 564 14 661 14 571 14 281

2004 January .......................... February ........................ March ............................. April ................................ May ................................ June ...............................

508 871 514 490 525 869 528 118 529 037 528 082

505 686 506 979 516 232 519 325 523 228 526 286

18 401 19 119 19 907 19 906 20 496 20 603

10 802 11 148 11 583 11 695 12 075 12 070

5 125 5 410 5 715 5 616 5 733 5 858

38 097 39 092 39 976 41 152 41 352 41 531

69 318 68 551 72 308 72 349 73 890 73 809

99 837 100 809 103 176 103 545 104 994 105 488

14 330 14 577 14 913 15 546 15 707 15 447

July ................................ August ............................ September ..................... October .......................... November ...................... December ......................

532 575 531 055 530 214 529 144 535 112 543 566

532 903 535 674 538 394 538 987 545 701 547 944

21 345 22 056 22 020 21 443 21 562 21 324

12 584 13 170 13 074 12 366 12 418 12 187

6 015 6 121 6 138 6 263 6 300 6 302

41 114 41 903 41 559 42 606 43 032 43 340

73 198 74 176 74 500 74 931 74 871 75 640

104 913 104 755 108 052 108 725 108 754 109 425

15 468 15 702 15 974 15 811 16 208 15 798

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC classification 3Data excludes semiconductors. See notes and definitions.

system.

CHAPTER 17: KEY SECTOR STATISTICS Table 17-7. Manufacturers’ Unfilled Orders, Durable Goods Industries—Continued (End of period, millions of dollars, seasonally adjusted.) Transportation equipment

By topical categories Capital goods

Classification basis, year and month

SIC Basis 2 1958 ............................... 1959 ...............................

Total 1

Motor vehicles and parts

Nondefense aircraft and parts

Defense aircraft and parts

Construction materials and supplies

Information technology industries

Nondefense Total

Excluding aircraft and parts

Total

Defense

Consumer durable goods

19 094 18 342

... ...

... ...

3 149 3 642

... ...

... ...

... ...

... ...

... ...

967 1 162

1960 1961 1962 1963 1964

............................... ............................... ............................... ............................... ...............................

18 217 17 202 18 844 20 151 23 664

... ... ... ... ...

... ... ... ... ...

3 094 3 449 3 480 4 127 5 182

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1 067 1 245 1 153 1 478 1 620

1965 1966 1967 1968 1969

............................... ............................... ............................... ............................... ...............................

29 262 37 376 40 807 43 023 41 812

... ... ... ... ...

... ... ... ... ...

5 823 6 728 7 521 8 205 8 873

... ... ... ... ...

... ... ... ... ...

... ... ... 47 608 52 591

... ... ... ... ...

... ... ... 23 152 20 809

1 940 2 109 1 849 2 129 1 967

1970 1971 1972 1973 1974

............................... ............................... ............................... ............................... ...............................

34 720 35 793 37 627 45 248 51 118

... ... ... ... ...

26 198 26 259 26 151 27 842 30 506

8 880 8 073 8 810 12 311 15 125

... ... ... ... ...

... ... ... ... ...

46 544 47 576 52 781 67 947 84 495

... ... ... ... ...

18 804 18 158 19 261 21 756 26 558

2 078 2 292 2 914 3 471 2 582

1975 1976 1977 1978 1979

............................... ............................... ............................... ............................... ...............................

46 633 49 078 57 101 81 782 103 555

... ... ... ... ...

28 244 29 421 37 325 54 417 74 034

12 694 11 592 12 821 14 408 15 360

... ... ... ... ...

... ... ... ... ...

76 773 79 121 87 552 112 277 144 114

... ... ... ... ...

27 936 31 826 36 692 47 425 48 656

2 740 2 862 4 135 4 864 4 754

1980 1981 1982 1983 1984

............................... ............................... ............................... ............................... ...............................

119 700 118 008 125 879 141 637 152 189

... ... ... ... ...

88 051 86 794 93 703 105 504 117 923

15 410 15 213 11 981 12 673 13 102

... ... ... ... ...

... ... ... ... ...

150 973 142 802 121 082 114 280 119 424

... ... ... ... ...

66 636 77 793 99 052 121 177 142 324

4 388 4 729 4 860 5 810 5 603

1985 1986 1987 1988 1989

............................... ............................... ............................... ............................... ...............................

156 155 161 145 176 588 211 575 253 517

... ... ... ... ...

127 282 133 565 144 987 174 721 217 557

13 124 13 677 14 140 14 557 13 992

... ... ... ... ...

... ... ... ... ...

120 687 118 429 136 171 176 069 221 152

... ... ... ... ...

156 188 161 705 163 786 161 878 155 314

5 253 5 815 5 842 5 703 5 854

1990 ............................... 1991 ............................... 1992 ...............................

279 082 275 260 253 076

... ... ...

242 208 242 798 222 194

14 021 14 828 14 706

... ... ...

... ... ...

250 314 246 093 234 817

... ... ...

149 844 139 666 124 047

5 215 5 498 5 047

NAICS Basis 3 1992 ............................... 1993 ............................... 1994 ...............................

258 863 233 408 225 846

11 561 13 321 15 823

127 197 110 649 100 895

49 597 46 655 44 653

20 957 21 849 25 183

80 308 78 064 79 090

318 443 298 925 298 991

179 301 173 791 177 918

92 795 95 620 106 985

139 142 125 134 121 073

6 485 7 184 7 257

1995 1996 1997 1998 1999

............................... ............................... ............................... ............................... ...............................

225 459 261 300 267 691 255 020 238 819

15 134 13 449 14 337 15 649 16 416

109 176 130 339 143 333 137 521 126 568

42 301 45 185 40 906 37 770 35 639

27 233 29 474 33 600 34 222 35 179

84 928 84 107 87 239 90 616 105 729

313 788 346 417 360 370 348 368 349 633

199 554 217 443 243 027 241 445 245 707

118 190 120 210 131 615 134 130 149 575

114 234 128 974 117 343 106 923 103 926

8 243 9 423 12 388 12 281 14 682

2000 2001 2002 2003 2004

............................... ............................... ............................... ............................... ...............................

262 216 254 339 242 412 254 682 268 221

13 697 12 605 12 548 14 296 15 243

138 486 123 034 110 447 108 718 121 729

42 517 51 301 57 153 64 882 56 248

37 289 33 378 30 734 30 747 35 452

115 710 105 251 89 050 92 486 101 513

385 230 362 183 334 496 368 646 399 574

268 699 235 698 211 638 233 727 259 258

159 916 142 373 124 486 147 211 159 378

116 531 126 485 122 858 134 919 140 316

16 001 13 368 12 935 12 662 14 459

2003 January .......................... February ........................ March ............................. April ................................ May ................................ June ...............................

241 033 241 604 243 079 245 638 246 897 248 618

12 576 12 716 12 672 12 771 12 462 12 467

111 033 109 560 107 504 108 165 107 774 108 369

56 422 56 574 58 553 60 318 62 410 63 013

30 142 31 325 30 878 30 163 29 825 29 588

88 962 89 134 89 772 89 981 90 604 90 439

334 358 335 763 339 273 343 226 346 184 347 711

212 643 212 222 213 520 215 464 217 179 217 795

125 084 125 565 128 515 129 425 131 456 132 277

121 715 123 541 125 753 127 762 129 005 129 916

12 838 13 387 12 652 12 858 12 607 12 486

July ................................ August ............................ September ..................... October .......................... November ...................... December ......................

248 060 249 478 248 657 250 861 251 802 254 682

12 612 12 550 13 021 13 666 14 003 14 296

108 446 108 339 108 277 109 021 108 295 108 718

62 682 62 924 63 169 63 502 63 989 64 882

29 444 29 692 30 137 30 491 30 818 30 747

90 013 91 080 91 716 92 812 92 491 92 486

348 171 352 429 353 487 357 228 360 484 368 646

219 093 221 190 222 791 225 808 228 160 233 727

132 738 134 602 136 424 138 746 141 755 147 211

129 078 131 239 130 696 131 420 132 324 134 919

12 300 11 929 11 752 12 358 12 842 12 662

2004 January .......................... February ........................ March ............................. April ................................ May ................................ June ...............................

252 989 252 381 253 306 254 265 253 819 256 344

14 147 14 468 14 650 15 052 15 378 15 629

107 743 107 394 107 642 108 061 108 372 108 616

63 683 62 513 61 273 60 233 59 115 61 098

31 530 32 329 33 013 34 412 34 769 34 450

92 063 93 094 95 169 95 337 96 436 96 782

368 060 367 730 374 417 375 658 376 739 379 842

232 636 231 780 237 199 238 003 240 253 241 145

146 741 146 336 152 047 152 313 154 207 154 405

135 424 135 950 137 218 137 655 136 486 138 697

12 786 12 630 12 798 12 422 12 897 12 984

July ................................ August ............................ September ..................... October .......................... November ...................... December ......................

264 044 264 206 263 136 261 953 266 971 268 221

15 592 15 866 16 071 15 522 15 360 15 243

115 634 116 417 116 094 115 478 119 993 121 729

60 330 59 228 57 906 57 693 57 449 56 248

33 727 34 456 33 917 34 686 35 050 35 452

96 560 96 000 99 502 100 474 100 795 101 513

387 037 388 046 390 909 392 065 397 933 399 574

248 709 249 904 251 939 250 824 256 459 259 258

154 817 154 978 157 636 157 058 157 943 159 378

138 328 138 142 138 970 141 241 141 474 140 316

12 923 13 117 13 417 13 507 14 601 14 459

1Includes categories not shown separately. 2Data are for roughly similar categories in SIC classification 3Data excludes semiconductors. See notes and definitions.

. . . = Not available.

system.

353

354

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-8. Motor Vehicle Sales and Inventories (Number of units, as noted.) Retail sales of new passenger cars Thousands of units, not seasonally adjusted

Retail inventories of new domestic passenger cars (thousands of units, end of period)

Millions of units, seasonally adjusted annual rate

Year and month Total

1967 ................................. 1968 ................................. 1969 .................................

Domestic

Imports

Total

Domestic

Imports

Not seasonally adjusted

Seasonally adjusted

Inventory to sales ratio

8 347.0 9 654.6 9 581.7

7 567.8 8 624.8 8 464.3

779.2 1 029.8 1 117.4

8.347 9.654 9.582

7.568 8.625 8.464

0.779 1.030 1.117

... ... ...

... ... ...

... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

8 402.6 10 227.8 10 873.3 11 350.1 8 773.7

7 119.4 8 661.8 9 252.6 9 588.6 7 361.8

1 283.2 1 566.0 1 620.7 1 761.5 1 411.9

8.403 10.228 10.873 11.350 8.774

7.119 8.662 9.253 9.589 7.362

1.283 1.566 1.621 1.762 1.412

... ... 1 311.0 1 600.0 1 672.0

... ... 1 379.0 1 654.0 1 730.0

... ... 1.700 2.500 3.400

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

8 537.8 9 994.0 11 046.0 11 164.0 10 558.8

6 950.9 8 492.0 8 971.2 9 163.9 8 230.1

1 586.9 1 502.0 2 074.8 2 000.1 2 328.7

8.538 9.994 11.046 11.164 10.559

6.951 8.492 8.971 9.164 8.230

1.587 1.502 2.075 2.000 2.329

1 419.0 1 465.0 1 731.0 1 729.0 1 691.0

1 468.0 1 494.0 1 743.0 1 731.0 1 667.0

2.200 1.900 2.300 2.300 2.400

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

8 981.8 8 534.3 7 979.4 9 178.6 10 390.2

6 581.4 6 208.8 5 758.2 6 793.0 7 951.7

2 400.4 2 325.5 2 221.2 2 385.6 2 438.5

8.982 8.534 7.980 9.179 10.390

6.581 6.209 5.758 6.793 7.952

2.401 2.326 2.221 2.386 2.439

1 448.0 1 471.0 1 126.0 1 352.0 1 415.0

1 440.0 1 495.0 1 127.0 1 350.0 1 411.0

2.600 3.600 2.200 2.000 2.100

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

10 978.4 11 405.7 10 170.9 10 545.6 9 776.8

8 204.7 8 215.0 7 080.9 7 539.4 7 078.1

2 773.7 3 190.7 3 090.0 3 006.2 2 698.7

10.978 11.406 10.171 10.546 9.777

8.205 8.215 7.081 7.539 7.078

2.774 3.191 3.090 3.006 2.699

1 630.0 1 499.0 1 680.0 1 601.0 1 669.0

1 619.0 1 515.0 1 716.0 1 601.0 1 687.0

2.500 2.000 2.800 2.300 3.100

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

9 300.2 8 175.0 8 214.4 8 517.7 8 990.4

6 896.9 6 136.9 6 276.6 6 734.0 7 255.2

2 403.3 2 038.1 1 937.8 1 783.7 1 735.2

9.300 8.175 8.214 8.518 8.990

6.897 6.137 6.277 6.734 7.255

2.403 2.038 1.938 1.784 1.735

1 408.0 1 283.0 1 276.0 1 345.5 1 378.6

1 418.0 1 296.0 1 288.0 1 392.3 1 409.6

2.600 2.600 2.300 2.489 2.335

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

8 636.2 8 526.8 8 272.5 8 142.1 8 696.5

7 128.8 7 253.7 6 906.2 6 763.9 6 981.7

1 507.4 1 273.1 1 366.3 1 378.2 1 714.8

8.687 8.527 8.273 8.142 8.697

7.178 7.254 6.906 6.764 6.982

1.510 1.273 1.366 1.378 1.715

1 639.2 1 441.4 1 316.8 1 270.5 1 318.1

1 665.9 1 485.4 1 356.4 1 336.0 1 392.3

2.810 2.463 2.360 2.381 2.394

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

8 852.1 8 422.1 8 102.4 7 614.5 7 504.5

6 832.8 6 322.7 5 871.3 5 527.1 5 349.9

2 019.3 2 099.4 2 231.1 2 087.4 2 154.6

8.852 8.422 8.102 7.615 7.504

6.833 6.323 5.871 5.527 5.350

2.019 2.099 2.231 2.087 2.155

1 377.0 955.7 1 148.4 1 131.0 1 032.6

1 398.3 984.4 1 242.0 1 236.6 1 161.0

2.794 2.264 2.531 2.717 2.409

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

526.0 624.8 741.6 717.6 758.4 761.3

365.3 456.2 539.2 531.0 559.5 559.7

160.7 168.6 202.4 186.6 198.9 201.6

7.719 8.062 8.106 8.481 7.877 8.095

5.440 5.800 5.864 6.248 5.748 5.839

2.279 2.262 2.242 2.233 2.129 2.256

1 064.7 1 139.4 1 146.9 1 162.8 1 169.2 1 169.6

1 007.3 1 063.6 1 107.2 1 110.4 1 137.2 1 185.8

2.222 2.201 2.266 2.133 2.374 2.437

July .............................. August .......................... September ................... October ........................ November .................... December ....................

740.7 829.7 602.1 604.7 570.6 624.9

539.8 605.7 431.5 442.1 399.0 442.3

200.9 224.0 170.6 162.6 171.6 182.6

8.664 8.612 7.961 7.612 7.898 8.142

6.352 6.380 5.662 5.580 5.654 5.888

2.312 2.232 2.299 2.032 2.244 2.254

999.6 949.4 1 003.8 1 108.0 1 205.1 1 148.4

1 183.6 1 168.4 1 194.7 1 216.4 1 257.6 1 242.0

2.236 2.197 2.532 2.616 2.669 2.531

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

543.2 581.1 695.7 653.0 726.9 688.6

385.5 418.4 503.3 475.8 534.9 514.4

157.7 162.7 192.4 177.2 192.0 174.2

8.150 7.462 7.646 7.473 7.288 7.674

5.866 5.282 5.474 5.423 5.304 5.623

2.284 2.180 2.172 2.050 1.984 2.051

1 220.5 1 250.3 1 242.8 1 228.9 1 201.0 1 185.8

1 211.8 1 217.4 1 228.3 1 227.6 1 257.8 1 278.6

2.479 2.766 2.692 2.717 2.846 2.729

July .............................. August .......................... September ................... October ........................ November .................... December ....................

680.1 738.1 596.0 573.8 557.7 580.3

494.1 535.2 433.8 417.4 398.3 416.0

186.0 202.9 162.2 156.4 159.4 164.3

7.629 7.905 7.693 7.264 7.755 7.435

5.572 5.791 5.573 5.308 5.648 5.462

2.057 2.114 2.120 1.956 2.107 1.973

1 026.1 965.7 1 014.0 1 111.2 1 145.5 1 131.0

1 271.0 1 233.3 1 252.4 1 269.0 1 255.5 1 236.6

2.737 2.556 2.697 2.869 2.667 2.717

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

495.4 582.2 692.0 644.0 742.9 669.4

360.8 426.0 503.0 455.9 539.9 478.3

134.6 156.2 189.0 188.1 203.0 191.1

7.179 7.532 7.712 7.336 7.853 7.217

5.275 5.420 5.566 5.188 5.611 5.064

1.904 2.112 2.146 2.148 2.242 2.153

1 170.2 1 197.7 1 211.5 1 218.5 1 127.5 1 120.4

1 238.7 1 241.5 1 228.9 1 251.3 1 231.3 1 228.4

2.818 2.749 2.650 2.895 2.633 2.911

July .............................. August .......................... September ................... October ........................ November .................... December ....................

682.0 636.0 605.8 584.9 517.8 652.1

490.1 454.0 434.6 398.1 353.2 456.0

191.9 182.0 171.2 186.8 164.6 196.1

7.498 7.285 7.410 7.519 7.434 8.078

5.408 5.226 5.298 5.149 5.209 5.784

2.090 2.059 2.112 2.370 2.225 2.294

933.0 940.8 968.0 1 038.2 1 076.7 1 032.6

1 200.3 1 201.3 1 198.4 1 223.5 1 201.7 1 161.0

2.663 2.758 2.714 2.851 2.768 2.409

. . . = Not available.

CHAPTER 17: KEY SECTOR STATISTICS

355

Table 17-8. Motor Vehicle Sales and Inventories—Continued (Number of units, as noted.) Retail sales of new trucks and buses Thousands of units, not seasonally adjusted

Millions of units, seasonally adjusted annual rate

Unit sales of cars and light trucks (millions of units, seasonally adjusted annual rate)

Year and month 0–10,000 pounds Total Domestic

Imports

10,001 pounds and over

0–10,000 pounds Total Domestic

Imports

10,001 pounds and over

Total

Domestic

Imports

1967 ................................. 1968 ................................. 1969 .................................

... ... ...

1 193.8 1 464.2 1 551.1

... ... ...

329.7 343.3 384.5

... ... ...

1.201 1.463 1.552

... ... ...

0.329 0.343 0.384

... ... ...

8.769 10.087 10.016

... ... ...

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

... ... ... ... ...

1 408.5 1 693.0 2 122.5 2 509.4 2 180.1

... ... ... ... ...

337.3 338.9 437.4 495.7 423.9

... ... ... ... ...

1.408 1.700 2.116 2.513 2.176

... ... ... ... ...

0.335 0.339 0.437 0.495 0.424

... ... ... ... ...

8.528 10.362 11.369 12.102 9.538

... ... ... ... ...

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

... 3 300.5 3 813.0 4 256.8 3 589.7

2 052.6 2 738.3 3 112.8 3 481.1 2 730.2

... 237.5 323.1 335.9 469.4

298.3 324.7 377.1 439.8 390.1

... 3.296 3.818 4.249 3.599

2.055 2.733 3.116 3.469 2.740

... 0.239 0.324 0.340 0.469

0.298 0.324 0.378 0.440 0.390

... 12.966 14.486 14.973 13.768

9.006 11.225 12.088 12.633 10.970

... 1.741 2.398 2.340 2.798

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

2 487.4 2 255.6 2 562.8 3 117.3 4 093.1

1 731.1 1 581.7 1 967.5 2 465.2 3 207.2

484.6 447.6 410.4 463.3 607.7

271.7 226.3 184.9 188.8 278.2

2.482 2.255 2.569 3.130 4.085

1.731 1.585 1.971 2.480 3.199

0.480 0.444 0.413 0.461 0.609

0.271 0.226 0.185 0.189 0.278

11.192 10.564 10.363 12.120 14.197

8.312 7.794 7.729 9.273 11.150

2.881 2.770 2.634 2.846 3.047

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

4 741.7 4 912.1 4 991.5 5 231.9 5 055.9

3 618.4 3 671.4 3 792.0 4 199.7 4 113.6

828.3 967.2 912.2 697.9 630.3

295.0 273.5 287.3 334.3 312.0

4.759 4.918 4.977 5.225 5.065

3.634 3.676 3.783 4.194 4.123

0.831 0.969 0.907 0.697 0.629

0.295 0.273 0.288 0.334 0.313

15.443 16.051 14.861 15.436 14.529

11.838 11.891 10.864 11.733 11.201

3.604 4.160 3.997 3.703 3.328

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

4 837.0 4 355.4 4 892.2 5 667.8 6 407.3

3 956.8 3 605.6 4 247.0 5 000.5 5 658.2

602.7 528.8 395.9 364.5 396.3

277.5 221.0 249.3 302.8 352.8

4.841 4.360 4.894 5.659 6.408

3.960 3.612 4.247 4.991 5.659

0.602 0.528 0.398 0.365 0.396

0.278 0.221 0.248 0.302 0.354

13.863 12.314 12.860 13.874 15.045

10.857 9.748 10.524 11.725 12.914

3.006 2.566 2.336 2.149 2.131

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

6 469.8 6 921.8 7 217.8 7 815.8 8 704.1

5 690.9 6 131.8 6 270.4 6 745.3 7 420.0

390.5 430.9 571.2 646.2 762.8

388.4 359.1 376.2 424.3 521.3

6.486 6.915 7.228 7.788 8.712

5.703 6.127 6.283 6.720 7.429

0.392 0.430 0.569 0.644 0.762

0.390 0.357 0.376 0.425 0.521

14.783 15.084 15.125 15.506 16.888

12.881 13.381 13.190 13.484 14.411

1.902 1.703 1.935 2.022 2.477

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

8 953.5 9 046.3 9 035.6 9 357.0 9 792.4

7 650.8 7 718.4 7 646.9 7 801.4 8 114.6

840.8 977.8 1 066.3 1 227.2 1 246.2

461.9 350.1 322.4 328.4 431.6

8.951 9.043 9.035 9.356 9.791

7.649 7.715 7.647 7.801 8.115

0.841 0.978 1.066 1.227 1.246

0.461 0.350 0.322 0.328 0.429

17.342 17.115 16.816 16.643 16.866

14.481 14.038 13.518 13.329 13.465

2.861 3.078 3.298 3.314 3.401

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

604.0 704.0 798.8 754.3 780.1 802.7

503.3 606.1 679.4 639.9 657.8 684.9

79.2 76.1 92.9 84.4 90.6 90.4

21.5 21.8 26.5 30.0 31.7 27.4

8.802 9.240 8.977 9.182 8.303 8.854

7.404 7.899 7.601 7.787 6.991 7.461

1.097 1.043 1.071 1.070 0.973 1.073

0.301 0.298 0.305 0.325 0.339 0.320

16.220 17.004 16.778 17.338 15.841 16.629

12.844 13.699 13.465 14.035 12.739 13.300

3.376 3.305 3.313 3.303 3.102 3.329

July .............................. August .......................... September ................... October ........................ November .................... December ....................

811.3 905.2 648.9 726.4 657.1 842.8

685.5 766.6 545.9 613.8 544.5 719.2

98.2 109.2 75.9 82.6 88.1 98.7

27.6 29.4 27.1 30.0 24.5 24.9

9.486 9.830 8.708 8.650 8.629 9.755

8.031 8.442 7.321 7.301 7.210 8.312

1.133 1.047 1.041 1.013 1.090 1.146

0.322 0.341 0.346 0.336 0.329 0.297

17.828 18.101 16.323 15.926 16.198 17.600

14.383 14.822 12.983 12.881 12.864 14.200

3.445 3.279 3.340 3.045 3.334 3.400

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

564.8 658.0 782.6 783.7 874.2 813.8

463.9 553.5 648.3 652.9 730.7 683.0

80.8 82.9 109.2 102.2 115.9 102.4

20.1 21.6 25.1 28.6 27.6 28.4

8.569 8.640 8.877 9.271 9.156 9.395

7.160 7.203 7.280 7.696 7.637 7.795

1.129 1.141 1.307 1.264 1.214 1.278

0.280 0.296 0.290 0.311 0.305 0.322

16.439 15.806 16.233 16.433 16.139 16.747

13.026 12.485 12.754 13.119 12.941 13.418

3.413 3.321 3.479 3.314 3.198 3.329

July .............................. August .......................... September ................... October ........................ November .................... December ....................

858.7 918.0 733.4 759.8 727.7 882.3

714.5 760.7 609.7 633.4 607.5 743.3

114.9 130.0 95.5 95.5 93.5 104.4

29.3 27.3 28.2 30.9 26.7 34.6

9.534 10.373 9.564 9.196 9.642 10.058

7.927 8.735 7.948 7.677 8.064 8.494

1.265 1.309 1.269 1.175 1.204 1.170

0.342 0.329 0.347 0.344 0.374 0.394

16.821 17.949 16.910 16.116 17.023 17.099

13.499 14.526 13.521 12.985 13.712 13.956

3.322 3.423 3.389 3.131 3.311 3.143

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

654.1 721.5 847.0 811.6 918.0 811.4

538.0 603.1 702.5 677.8 772.1 669.8

89.0 89.2 106.9 97.5 110.3 104.5

27.1 29.2 37.6 36.3 35.6 37.1

9.623 9.511 9.540 9.554 10.195 8.921

8.008 7.885 7.865 7.988 8.529 7.289

1.225 1.227 1.267 1.171 1.258 1.226

0.390 0.399 0.408 0.395 0.408 0.406

16.412 16.644 16.844 16.495 17.640 15.732

13.283 13.305 13.431 13.176 14.140 12.353

3.129 3.339 3.413 3.319 3.500 3.379

July .............................. August .......................... September ................... October ........................ November .................... December ....................

907.1 827.3 864.3 785.3 713.4 931.4

751.2 680.4 728.7 643.8 583.7 763.5

119.7 109.7 99.1 103.2 94.7 122.4

36.2 37.2 36.5 38.3 35.0 45.5

10.040 9.829 10.451 9.861 9.636 10.326

8.338 8.183 8.775 8.112 7.937 8.468

1.268 1.209 1.230 1.291 1.241 1.344

0.434 0.437 0.446 0.458 0.458 0.514

17.104 16.677 17.415 16.922 16.612 17.890

13.746 13.409 14.073 13.261 13.146 14.252

3.358 3.268 3.342 3.661 3.466 3.638

. . . = Not available.

356

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-9. Retail and Food Services Sales (All retail establishments and food services; millions of dollars; not seasonally adjusted.) Retail (NAICS industry categories) Classification basis, year and month

SIC Basis 3 1967 .............................. 1968 .............................. 1969 ..............................

Retail and GAFO food (department services, store type total 1 goods), total 2

Motor vehicles and parts

Furniture Electronics and and home appliances furnishings

Building materials and garden

Food and beverages

Health and personal care

Gasoline

Clothing General and accessories merchandise

Nonstore retailers

Food services and drinking places

297 084 329 336 352 457

... ... ...

56 094 64 314 67 745

13 605 15 257 16 152

... ... ...

13 435 15 602 17 175

70 456 75 899 81 258

11 359 12 378 13 200

22 362 24 750 26 301

17 900 19 707 21 384

40 124 44 019 46 559

... ... ...

22 518 25 279 27 173

1970 1971 1972 1973 1974

.............................. .............................. .............................. .............................. ..............................

374 989 413 969 458 267 511 570 541 686

... ... ... ... ...

65 241 80 718 92 335 104 893 97 551

17 043 18 183 21 199 24 244 25 982

... ... ... ... ...

18 080 20 924 24 123 27 466 27 347

89 990 94 002 100 589 111 817 126 312

14 567 15 143 16 139 17 190 18 595

28 903 30 620 33 072 36 942 43 054

22 095 24 178 26 367 29 109 30 077

49 163 54 365 59 656 65 825 69 540

... ... ... ... ...

30 476 32 321 35 738 40 290 44 606

1975 1976 1977 1978 1979

.............................. .............................. .............................. .............................. ..............................

587 704 655 859 722 109 804 019 896 561

... ... ... ... ...

107 348 130 169 150 129 168 065 178 641

27 046 30 300 33 308 36 832 42 417

... ... ... ... ...

27 299 33 259 38 913 45 170 51 016

138 665 148 218 158 444 175 425 197 985

19 995 21 710 23 381 25 607 28 455

47 603 52 037 56 638 59 889 73 521

32 398 34 706 37 165 42 649 46 070

73 759 79 500 87 824 97 215 103 817

... ... ... ... ...

51 067 57 331 63 370 71 828 82 110

1980 1981 1982 1983 1984

.............................. .............................. .............................. .............................. ..............................

956 921 1 038 163 1 068 747 1 170 163 1 286 914

... ... ... ... ...

164 149 181 903 192 440 229 979 273 320

44 238 46 900 46 761 54 691 61 432

... ... ... ... ...

50 794 52 230 50 994 58 739 67 077

220 224 236 188 246 122 256 018 271 909

30 951 33 999 36 440 40 591 44 011

94 093 103 072 97 440 102 927 107 565

49 296 53 998 55 570 60 192 64 341

108 955 120 534 124 624 135 959 150 283

... ... ... ... ...

90 058 98 118 104 593 113 281 121 321

1985 1986 1987 1988 1989

.............................. .............................. .............................. .............................. ..............................

1 375 027 1 449 636 1 541 299 1 656 202 1 758 971

... ... ... ... ...

303 199 326 138 342 896 372 570 386 011

68 287 75 714 78 072 85 390 91 301

... ... ... ... ...

71 196 77 104 83 454 91 056 92 379

285 062 297 019 309 461 325 493 347 045

46 994 50 546 54 142 57 842 63 343

113 341 102 093 104 769 110 341 122 882

70 195 75 626 79 322 85 307 92 341

158 636 169 397 181 970 192 521 206 306

... ... ... ... ...

127 949 139 415 153 461 167 993 177 829

1990 .............................. 1 844 611 1991 .............................. 1 855 937 1992 .............................. 1 951 589

... ... ...

387 605 372 647 406 935

91 545 91 676 96 947

... ... ...

94 640 91 496 100 838

368 333 374 523 377 099

70 558 75 540 77 788

138 504 137 295 136 950

95 819 97 441 104 212

215 514 226 730 246 420

... ... ...

190 149 194 424 200 164

NAICS Basis 1992 .............................. 2 007 927 1993 .............................. 2 146 108 1994 .............................. 2 321 863

528 955 566 080 611 205

414 550 469 434 537 875

49 834 53 055 58 101

40 297 45 946 54 099

129 664 139 485 155 541

371 451 375 440 385 265

89 881 92 766 96 530

156 556 162 587 171 416

120 346 125 001 129 341

247 968 266 088 285 278

79 149 85 650 95 075

203 415 216 051 225 629

1995 1996 1997 1998 1999

.............................. .............................. .............................. .............................. ..............................

2 441 080 2 593 158 2 714 035 2 844 521 3 082 970

644 675 677 395 708 427 754 034 813 267

576 910 625 184 652 067 687 553 764 397

61 332 65 762 70 953 76 009 83 250

61 223 64 737 66 527 71 647 77 154

162 715 174 593 188 646 200 334 216 887

391 312 402 020 410 288 417 523 434 566

101 799 109 709 118 808 129 995 143 428

181 294 194 601 199 856 191 965 212 820

131 593 136 851 140 565 149 440 160 055

300 589 315 398 331 454 351 151 380 248

101 020 113 662 120 021 128 316 146 927

233 625 242 896 258 040 272 249 285 085

2000 2001 2002 2003 2004

.............................. .............................. .............................. .............................. ..............................

3 288 734 3 387 964 3 473 659 3 624 794 3 901 739

862 089 884 066 915 606 949 631 1 010 230

797 299 818 696 821 664 845 772 882 040

90 482 91 398 94 946 97 676 103 781

81 601 80 891 85 172 88 084 94 545

228 127 238 846 248 746 264 911 303 071

445 892 463 739 466 176 477 294 498 151

156 340 168 065 182 138 193 976 205 404

250 176 251 768 250 958 274 095 320 604

167 978 167 656 172 678 178 642 189 997

404 375 427 553 446 666 468 876 502 845

176 626 179 492 190 801 205 243 233 281

305 727 318 141 332 191 349 387 380 030

2002 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

256 849 254 372 286 450 285 803 301 607 290 124

63 415 64 239 73 328 69 343 75 027 72 271

60 810 63 198 70 040 71 067 72 420 71 321

7 172 7 112 7 802 7 399 8 024 7 538

6 686 6 356 6 719 6 090 6 616 6 651

16 555 16 043 19 009 24 163 25 466 23 275

37 826 35 356 39 629 36 739 40 497 38 803

14 648 14 179 15 238 15 068 15 603 14 614

17 601 16 779 19 895 21 158 22 268 21 686

10 374 11 763 14 016 13 234 14 188 13 243

30 072 30 895 35 965 34 299 37 359 36 289

15 991 14 438 15 843 15 268 15 315 13 790

25 217 25 173 28 322 27 588 28 920 28 644

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

296 846 308 723 274 416 288 811 291 653 338 005

70 657 78 300 68 521 73 862 85 947 120 696

76 691 79 852 65 363 66 530 60 749 63 623

7 713 8 254 7 505 7 915 8 905 9 607

6 633 7 089 6 409 6 567 7 843 11 513

22 665 21 761 20 360 21 929 19 548 17 972

39 850 39 996 37 144 38 547 39 605 42 184

15 079 15 249 14 597 15 463 15 073 17 327

22 996 23 137 21 392 22 255 20 877 20 914

12 902 15 147 12 468 14 026 15 929 25 388

34 761 37 496 33 128 36 318 42 495 57 589

14 462 15 007 14 839 16 974 17 661 21 213

28 822 29 707 26 936 27 670 27 006 28 186

2003 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

269 042 259 680 294 084 294 649 312 878 301 669

65 395 64 698 72 220 71 509 77 183 74 043

62 279 61 172 72 067 72 632 77 010 74 933

7 252 6 776 7 694 7 452 8 164 7 837

6 641 6 132 6 480 5 986 6 669 6 739

17 294 15 680 20 047 24 168 25 740 25 113

38 708 35 702 38 868 38 646 41 224 39 189

15 634 14 849 15 923 15 806 16 240 15 589

21 173 20 808 23 816 22 777 23 230 22 706

10 817 11 684 13 447 13 689 14 729 13 485

31 515 32 205 36 201 35 987 38 799 37 261

17 635 16 430 17 034 15 749 15 469 14 913

26 044 25 523 29 078 28 177 30 813 29 666

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

310 804 318 111 295 120 305 733 303 045 359 979

74 914 82 473 73 039 77 743 89 268 127 146

78 835 78 059 70 551 68 618 62 212 67 404

8 160 8 468 8 098 8 435 9 096 10 244

6 932 7 523 6 890 7 034 8 419 12 639

24 588 22 890 23 032 24 397 21 028 20 934

41 329 40 955 38 702 40 170 40 114 43 687

16 108 16 124 15 863 16 704 15 930 19 206

23 887 24 826 23 326 23 524 21 813 22 209

13 830 15 498 13 544 14 576 16 527 26 816

37 184 40 211 35 316 38 734 44 850 60 613

15 144 15 652 16 803 18 645 18 474 23 295

30 527 31 783 28 519 30 271 28 950 30 036

2004 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

283 797 285 329 322 390 318 847 332 446 325 584

70 840 72 782 78 102 77 586 81 116 78 458

61 848 66 070 79 731 74 327 78 742 76 647

7 712 7 669 8 551 8 024 8 140 8 463

7 255 7 035 7 283 6 688 7 149 7 419

18 421 18 332 25 339 28 715 28 965 29 296

40 388 37 610 40 111 40 404 42 544 41 110

16 681 16 030 17 605 17 008 17 025 16 913

22 520 22 266 25 243 25 828 28 143 27 963

11 773 13 333 14 728 15 032 15 357 14 214

34 601 36 211 38 621 39 274 41 780 39 393

19 243 18 342 19 314 18 021 16 853 17 329

28 852 29 047 31 507 31 320 32 679 31 942

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

333 020 331 754 319 134 325 699 330 108 393 631

80 227 83 569 77 389 82 355 93 285 134 521

80 310 77 938 75 195 70 287 66 733 74 212

8 873 8 855 8 413 8 699 9 573 10 809

7 446 7 805 7 293 7 250 8 873 13 049

26 974 26 545 26 028 25 775 24 733 23 948

43 223 41 350 41 016 41 835 41 782 46 778

16 848 16 933 16 537 17 016 17 044 19 764

28 857 28 370 27 083 29 329 27 624 27 378

14 636 15 556 14 209 15 558 17 210 28 391

40 111 40 727 38 074 41 707 46 925 65 421

17 032 18 516 19 082 20 319 22 210 27 020

33 784 32 852 31 181 32 949 30 638 33 279

1Includes store categories not shown separately. 2Furniture, home furnishings, electronics, appliances, clothing, sporting 3Data are for roughly similar categories in SIC classification system.

. . . = Not available.

goods, hobby, book, music, general merchandise, office supplies, stationery, and gifts.

CHAPTER 17: KEY SECTOR STATISTICS Table 17-9. Retail and Food Services Sales—Continued (All retail establishments and food services; millions of dollars; seasonally adjusted.) Retail and food services Retail (NAICS industry categories) Classification basis, year and month

GAFO (department store type goods) 2

Total Total

SIC Basis 3 1967 .............................. 1968 .............................. 1969 ..............................

Motor vehicles and parts

Furniture and home furnishings

Electronics and appliances

Building materials and garden

Food and beverages Total

Groceries

Beer, wine, and liquor

Health and personal care

Gasoline

297 084 329 336 352 457

... ... ...

... ... ...

56 094 64 314 67 745

13 605 15 257 16 152

... ... ...

13 435 15 602 17 175

70 456 75 899 81 258

65 036 69 873 74 836

6 652 7 258 7 739

11 359 12 378 13 200

22 362 24 750 26 301

1970 1971 1972 1973 1974

.............................. .............................. .............................. .............................. ..............................

374 989 413 969 458 267 511 570 541 686

... ... ... ... ...

... ... ... ... ...

65 241 80 718 92 335 104 893 97 551

17 043 18 183 21 199 24 244 25 982

... ... ... ... ...

18 080 20 924 24 123 27 466 27 347

89 990 94 002 100 589 111 817 126 312

82 556 86 419 92 856 103 555 117 182

8 412 9 294 9 814 10 288 11 087

14 567 15 143 16 139 17 190 18 595

28 903 30 620 33 072 36 942 43 054

1975 1976 1977 1978 1979

.............................. .............................. .............................. .............................. ..............................

587 704 655 859 722 109 804 019 896 561

... ... ... ... ...

... ... ... ... ...

107 348 130 169 150 129 168 065 178 641

27 046 30 300 33 308 36 832 42 417

... ... ... ... ...

27 299 33 259 38 913 45 170 51 016

138 665 148 218 158 444 175 425 197 985

129 087 137 992 148 116 164 234 185 318

11 896 12 442 13 031 13 630 15 194

19 995 21 710 23 381 25 607 28 455

47 603 52 037 56 638 59 889 73 521

1980 1981 1982 1983 1984

.............................. .............................. .............................. .............................. ..............................

956 921 1 038 163 1 068 747 1 170 163 1 286 914

... ... ... ... ...

... ... ... ... ...

164 149 181 903 192 440 229 979 273 320

44 238 46 900 46 761 54 691 61 432

... ... ... ... ...

50 794 52 230 50 994 58 739 67 077

220 224 236 188 246 122 256 018 271 909

205 630 220 580 230 696 240 402 258 465

16 882 17 702 18 146 19 121 18 273

30 951 33 999 36 440 40 591 44 011

94 093 103 072 97 440 102 927 107 565

1985 1986 1987 1988 1989

.............................. .............................. .............................. .............................. ..............................

1 375 027 1 449 636 1 541 299 1 656 202 1 758 971

... ... ... ... ...

... ... ... ... ...

303 199 326 138 342 896 372 570 386 011

68 287 75 714 78 072 85 390 91 301

... ... ... ... ...

71 196 77 104 83 454 91 056 92 379

285 062 297 019 309 461 325 493 347 045

269 546 280 833 290 979 307 173 328 072

19 532 19 929 19 826 19 638 20 099

46 994 50 546 54 142 57 842 63 343

113 341 102 093 104 769 110 341 122 882

1990 .............................. 1991 .............................. 1992 ..............................

1 844 611 1 855 937 1 951 589

... ... ...

... ... ...

387 605 372 647 406 935

91 545 91 676 96 947

... ... ...

94 640 91 496 100 838

368 333 374 523 377 099

348 243 354 331 358 148

21 722 22 454 21 698

70 558 75 540 77 788

138 504 137 295 136 950

NAICS Basis 1992 .............................. 1993 .............................. 1994 ..............................

2 007 927 2 146 108 2 321 863

1 804 512 1 930 057 2 096 234

528 955 566 080 611 205

414 550 469 434 537 875

49 834 53 055 58 101

40 297 45 946 54 099

129 664 139 485 155 541

371 451 375 440 385 265

337 925 341 855 351 056

21 825 21 675 22 240

89 881 92 766 96 530

156 556 162 587 171 416

1995 1996 1997 1998 1999

.............................. .............................. .............................. .............................. ..............................

2 441 080 2 593 158 2 714 035 2 844 521 3 082 970

2 207 455 2 350 262 2 455 995 2 572 272 2 797 885

644 675 677 395 708 427 754 034 813 267

576 910 625 184 652 067 687 553 764 397

61 332 65 762 70 953 76 009 83 250

61 223 64 737 66 527 71 647 77 154

162 715 174 593 188 646 200 334 216 887

391 312 402 020 410 288 417 523 434 566

356 932 366 075 373 072 378 728 394 615

22 145 23 300 24 222 25 526 26 622

101 799 109 709 118 808 129 995 143 428

181 294 194 601 199 856 191 965 212 820

2000 2001 2002 2003 2004

.............................. .............................. .............................. .............................. ..............................

3 288 734 3 387 964 3 473 659 3 624 794 3 901 739

2 983 007 3 069 823 3 141 468 3 275 407 3 521 709

862 089 884 066 915 606 949 631 1 010 230

797 299 818 696 821 664 845 772 882 040

90 482 91 398 94 946 97 676 103 781

81 601 80 891 85 172 88 084 94 545

228 127 238 846 248 746 264 911 303 071

445 892 463 739 466 176 477 294 498 151

403 095 418 847 420 456 430 199 447 677

28 646 29 753 30 167 30 563 31 950

156 340 168 065 182 138 193 976 205 404

250 176 251 768 250 958 274 095 320 604

2002 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

284 905 286 006 285 802 290 619 285 788 289 695

257 406 258 464 258 411 262 892 258 245 261 939

75 723 76 318 76 184 76 698 76 088 76 452

67 771 68 043 67 126 68 460 65 131 68 421

7 864 7 946 7 937 7 905 8 016 7 860

7 026 7 091 7 142 7 102 7 162 7 178

20 131 20 252 20 431 21 298 20 907 20 884

39 091 39 072 38 947 38 803 38 780 38 781

35 324 35 252 35 140 34 998 34 958 34 935

2 521 2 547 2 542 2 527 2 530 2 540

14 751 14 941 14 852 15 251 15 149 15 128

19 299 19 198 20 055 21 011 20 734 20 812

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

291 962 293 872 289 112 290 639 291 910 294 081

264 222 266 160 261 314 262 969 263 982 265 895

75 784 76 251 75 693 77 276 77 012 77 229

70 562 72 211 67 835 67 501 68 132 69 700

7 752 7 891 7 900 7 883 8 001 7 979

7 089 7 022 7 084 7 136 7 045 7 084

20 706 20 836 20 768 20 755 20 908 20 342

38 841 38 748 38 716 38 854 39 118 39 095

35 005 34 935 34 928 35 091 35 334 35 200

2 522 2 498 2 483 2 461 2 469 2 557

15 185 15 264 15 512 15 432 15 428 15 402

21 432 21 227 21 413 21 691 21 679 22 249

2003 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

296 052 291 567 297 235 297 241 296 481 301 370

267 957 263 642 268 811 268 837 267 549 272 257

76 923 76 313 77 176 77 207 78 037 78 978

69 872 66 308 68 893 70 559 69 546 71 416

7 934 7 579 7 891 7 979 8 148 8 181

7 009 6 864 6 965 7 020 7 199 7 258

21 182 19 992 21 309 21 307 21 519 22 049

39 416 39 419 39 467 39 580 39 204 39 767

35 620 35 648 35 646 35 714 35 355 35 918

2 480 2 477 2 504 2 532 2 498 2 500

15 618 15 631 15 734 15 774 15 875 16 038

23 039 23 808 24 081 22 641 21 529 21 833

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

303 921 308 875 306 224 305 969 309 864 309 050

274 681 279 060 276 883 275 938 279 550 279 014

79 652 80 940 80 717 80 399 81 034 81 508

71 717 73 350 70 709 69 856 72 232 70 918

8 176 8 237 8 331 8 360 8 399 8 362

7 395 7 515 7 520 7 614 7 666 7 704

22 516 22 556 22 708 23 141 23 151 22 983

39 963 40 114 40 170 40 154 40 129 40 168

36 051 36 118 36 142 36 080 36 103 36 114

2 542 2 587 2 609 2 614 2 586 2 608

16 320 16 436 16 524 16 604 16 698 16 788

22 324 23 115 23 164 22 619 23 083 23 304

2004 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

311 973 313 973 320 815 317 103 324 439 319 926

281 312 283 170 289 651 286 062 293 227 288 580

82 701 82 597 83 698 82 604 83 537 83 106

70 097 71 564 73 588 70 970 75 071 70 584

8 428 8 418 8 646 8 573 8 374 8 592

7 690 7 710 7 750 7 807 7 828 7 897

22 941 23 146 25 417 25 190 25 074 25 225

40 711 40 449 40 852 40 926 41 227 41 230

36 611 36 367 36 743 36 794 37 049 37 044

2 617 2 599 2 600 2 637 2 656 2 647

16 698 16 560 17 043 16 923 16 907 17 118

24 452 25 018 25 193 25 223 26 726 26 657

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

323 929 324 257 329 876 332 693 332 392 336 583

292 296 292 729 297 797 300 390 300 005 303 731

84 053 83 881 84 572 85 236 85 324 85 498

72 743 72 683 76 106 76 282 74 076 77 199

8 838 8 673 8 611 8 682 8 703 8 788

7 886 7 876 7 955 7 931 8 009 7 936

25 249 25 487 25 769 25 550 25 783 26 301

41 373 41 547 41 812 41 919 42 255 42 324

37 185 37 344 37 590 37 657 37 981 38 096

2 652 2 656 2 668 2 701 2 677 2 645

17 070 17 208 17 226 17 293 17 392 17 352

26 670 26 539 26 526 28 147 28 805 28 400

2Furniture, home furnishings, electronics, appliances, clothing, sporting 3Data are for roughly similar categories in SIC classification system.

. . . = Not available.

goods, hobby, book, music, general merchandise, office supplies, stationery, and gifts.

357

358

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-9. Retail and Food Services Sales—Continued (All retail establishments and food services; millions of dollars; seasonally adjusted, except as noted.) Retail and food services—Continued Retail (NAICS industry categories)—Continued Classification basis, year and month

Clothing and accessories Total 1

SIC Basis 3 1967 .............................. 1968 .............................. 1969 ..............................

Men’s clothing

Women’s clothing

Family clothing 4

Shoes

Sporting goods, hobby, book, and music

General merchandise Total

Other Department general stores 5 merchandise

Miscellaneous store retailers

Nonstore retailers Total 1

Electronic shopping and mail-order

Food services and drinking places

17 900 19 707 21 384

3 519 3 916 4 382

6 812 7 435 7 842

3 569 3 897 4 204

3 606 4 062 4 577

... ... ...

40 124 44 019 46 559

29 183 32 431 34 754

... ... ...

... ... ...

... ... ...

... ... ...

22 518 25 279 27 173

1970 1971 1972 1973 1974

.............................. .............................. .............................. .............................. ..............................

22 095 24 178 26 367 29 109 30 077

4 544 4 903 5 684 6 193 6 190

8 239 9 222 9 739 10 732 11 338

4 363 5 046 5 525 5 959 6 360

4 458 4 524 4 884 5 600 5 405

... ... ... ... ...

49 163 54 365 59 656 65 825 69 540

36 167 40 472 44 451 49 342 52 059

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

30 476 32 321 35 738 40 290 44 606

1975 1976 1977 1978 1979

.............................. .............................. .............................. .............................. ..............................

32 398 34 706 37 165 42 649 46 070

6 619 6 815 7 042 7 537 7 763

12 438 13 426 12 537 15 995 17 030

6 725 7 201 7 972 8 559 9 397

5 751 8 249 7 058 8 305 9 693

... ... ... ... ...

73 759 79 500 87 824 97 215 103 817

55 702 61 500 68 856 76 137 81 161

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

51 067 57 331 63 370 71 828 82 110

1980 1981 1982 1983 1984

.............................. .............................. .............................. .............................. ..............................

49 296 53 998 55 570 60 192 64 341

7 664 7 910 7 803 7 958 8 206

17 592 19 060 20 017 21 847 23 764

10 843 12 251 13 660 15 384 16 443

10 530 11 821 11 419 11 949 12 306

... ... ... ... ...

108 955 120 534 124 624 135 959 150 283

85 464 95 638 99 841 108 637 120 487

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

90 058 98 118 104 593 113 281 121 321

1985 1986 1987 1988 1989

.............................. .............................. .............................. .............................. ..............................

70 195 75 626 79 322 85 307 92 341

8 458 8 646 9 017 9 826 10 507

26 149 28 600 29 208 30 567 32 231

17 827 19 336 21 472 23 902 26 375

13 054 13 947 14 594 15 444 17 290

... ... ... ... ...

158 636 169 397 181 970 192 521 206 306

126 412 134 486 144 017 151 523 160 524

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

127 949 139 415 153 461 167 993 177 829

1990 .............................. 1991 .............................. 1992 ..............................

95 819 97 441 104 212

10 450 10 435 10 197

32 812 32 865 35 750

28 398 30 521 33 222

18 043 17 504 18 122

... ... ...

215 514 226 730 246 420

165 808 172 922 186 423

... ... ...

... ... ...

... ... ...

... ... ...

190 149 194 424 200 164

NAICS Basis 1992 .............................. 1993 .............................. 1994 ..............................

120 346 125 001 129 341

10 185 9 968 10 039

31 840 32 377 30 611

33 159 35 311 38 118

18 630 19 042 19 921

49 296 52 368 57 538

247 968 266 088 285 278

177 089 187 685 198 945

70 879 78 403 86 333

55 520 62 237 70 175

79 149 85 650 95 075

35 220 39 926 45 300

203 415 216 051 225 629

1995 1996 1997 1998 1999

.............................. .............................. .............................. .............................. ..............................

131 593 136 851 140 565 149 440 160 055

9 322 9 554 10 077 10 209 9 684

28 723 28 266 27 851 28 403 29 663

40 014 42 275 45 259 50 123 55 231

20 354 21 248 21 463 22 270 22 746

60 922 64 055 65 573 68 927 72 743

300 589 315 398 331 454 351 151 380 248

205 920 212 203 220 108 223 397 230 521

94 669 103 195 111 346 127 754 149 727

76 746 83 690 91 237 99 412 105 410

101 020 113 662 120 021 128 316 146 927

49 721 56 594 63 640 74 331 88 891

233 625 242 896 258 040 272 249 285 085

2000 2001 2002 2003 2004

.............................. .............................. .............................. .............................. ..............................

167 978 167 656 172 678 178 642 189 997

9 529 8 649 8 140 8 519 9 457

31 608 31 660 31 500 32 884 35 242

58 762 60 001 64 060 65 858 70 632

22 952 22 985 23 329 23 337 23 715

76 079 77 087 76 889 77 280 80 062

404 375 427 553 446 666 468 876 502 845

232 808 228 807 221 272 215 027 215 999

171 567 198 746 225 394 253 849 286 846

108 032 104 632 104 634 103 558 107 928

176 626 179 492 190 801 205 243 233 281

109 230 112 770 122 631 131 173 148 252

305 727 318 141 332 191 349 387 380 030

2002 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

14 237 14 434 14 366 14 583 14 216 14 424

681 695 699 698 676 679

2 652 2 702 2 662 2 677 2 595 2 613

3 591 3 846 5 050 4 722 4 975 4 943

1 971 1 988 1 930 1 993 1 945 1 970

6 535 6 431 6 442 6 364 6 412 6 309

36 817 37 091 37 049 37 539 37 032 37 432

18 943 18 961 18 824 19 089 18 545 18 618

17 874 18 130 18 225 18 450 18 487 18 814

8 619 8 721 8 591 8 726 8 686 8 839

15 265 15 244 15 473 15 850 16 020 15 871

10 024 10 062 9 926 10 132 10 185 10 102

27 499 27 542 27 391 27 727 27 543 27 756

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

14 232 14 368 13 948 14 669 14 501 14 736

681 666 672 678 671 673

2 568 2 597 2 540 2 574 2 612 2 742

5 020 5 823 4 676 5 606 6 485 9 323

1 929 1 931 1 881 1 948 1 941 1 949

6 302 6 346 6 400 6 448 6 531 6 418

37 149 37 299 37 022 37 778 37 754 37 715

18 353 18 366 18 030 18 546 18 086 17 977

18 796 18 933 18 992 19 232 19 668 19 738

8 775 8 906 8 877 8 758 8 471 8 676

16 197 16 042 15 839 16 064 16 414 16 499

10 317 10 301 10 208 10 291 10 478 10 507

27 740 27 712 27 798 27 670 27 928 28 186

2003 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

14 584 14 194 14 458 14 432 14 650 14 885

676 655 675 688 702 712

2 673 2 600 2 626 2 622 2 657 2 690

3 846 3 860 4 953 4 967 5 310 5 031

1 889 1 900 1 926 1 872 1 899 1 927

6 470 6 311 6 256 6 404 6 337 6 493

37 691 38 165 38 388 38 137 38 357 38 833

17 863 17 909 17 743 17 705 17 860 17 962

19 828 20 256 20 645 20 432 20 497 20 871

8 668 8 475 8 515 8 524 8 653 8 674

16 474 16 896 16 854 16 480 16 532 16 830

10 520 10 636 10 623 10 664 10 648 10 868

28 095 27 925 28 424 28 404 28 932 29 113

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

15 081 15 077 15 189 15 091 15 308 15 437

710 734 730 725 729 749

2 777 2 744 2 825 2 803 2 857 2 942

5 352 5 830 5 079 5 593 6 557 9 480

1 965 1 994 1 980 1 984 2 010 1 995

6 384 6 697 6 509 6 406 6 410 6 505

39 302 40 085 39 944 39 710 40 045 40 235

18 125 18 309 18 127 17 927 17 857 17 858

21 177 21 776 21 817 21 783 22 188 22 377

8 659 8 766 8 614 8 695 8 704 8 701

16 844 17 112 17 501 17 688 17 725 17 909

10 953 10 967 11 212 11 317 11 268 11 470

29 240 29 815 29 341 30 031 30 314 30 036

2004 January .......................... February ........................ March ............................ April ............................... May ................................ June ...............................

15 574 15 611 16 003 15 457 15 704 15 576

759 755 771 765 769 768

2 905 2 894 2 946 2 846 2 914 2 924

4 159 4 475 5 468 5 469 5 532 5 189

1 995 1 991 2 058 1 975 1 957 1 935

6 719 6 672 6 606 6 558 6 555 6 609

40 984 40 869 41 462 40 942 41 850 41 213

17 934 17 973 18 186 17 723 17 984 17 726

23 050 22 896 23 276 23 219 23 866 23 487

8 816 8 648 8 776 8 908 9 085 8 833

18 202 18 505 18 315 18 585 18 826 19 046

11 664 11 773 11 975 12 018 12 369 12 172

30 661 30 803 31 164 31 041 31 212 31 346

July ................................ August ........................... September ..................... October .......................... November ...................... December ......................

15 684 15 646 15 852 16 154 16 030 16 012

790 793 793 804 818 819

2 884 2 884 2 939 3 005 2 984 2 959

5 693 5 972 5 360 6 084 6 944 10 287

1 933 1 917 1 972 1 994 1 968 2 007

6 729 6 749 6 716 6 709 6 626 6 591

41 688 41 735 42 196 42 529 42 735 43 023

17 863 17 841 18 042 18 004 18 083 18 137

23 825 23 894 24 154 24 525 24 652 24 886

8 871 8 917 9 009 9 088 9 263 9 167

19 495 19 669 20 019 20 106 20 328 20 638

12 339 12 403 12 501 12 579 12 700 12 868

31 633 31 528 32 079 32 303 32 387 32 852

1Includes store categories not shown separately. 3Data are for roughly similar categories in SIC classification 4Not seasonally adjusted 5Excluding leased departments.

. . . = Not available.

system.

CHAPTER 17: KEY SECTOR STATISTICS

359

Table 17-10. Retail Inventories (All retail stores; end of period, millions of dollars.) Not seasonally adjusted Excluding Motor motor vehicles and vehicles and parts parts

Year and month Total

SIC Basis 2 1967 ............................. 1968 ............................. 1969 .............................

Seasonally adjusted (NAICS industry categories) Furniture, Excluding home Motor motor vehicles and furnishings, vehicles and electronics, parts and parts appliances

Total

General merchandise Building materials and garden

Food and beverages

Clothing and accessories

Department stores 1

Total

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

1970 1971 1972 1973 1974

............................. ............................. ............................. ............................. .............................

... ... 53 791 61 835 69 644

... ... 42 126 47 565 52 874

... ... 11 665 14 270 16 770

... ... 55 079 63 237 71 067

... ... 43 224 48 881 54 330

... ... 11 855 14 356 16 737

... ... 4 414 4 800 5 439

... ... 4 268 4 844 5 131

... ... 5 981 6 946 8 043

... ... 5 200 5 791 6 071

... ... 11 743 13 137 13 647

... ... 8 214 9 016 9 632

1975 1976 1977 1978 1979

............................. ............................. ............................. ............................. .............................

70 273 77 617 87 411 100 242 108 408

53 795 58 994 65 269 74 752 81 152

16 478 18 623 22 142 25 490 27 256

71 744 79 273 89 444 102 694 111 098

55 397 60 853 67 565 77 506 84 165

16 347 18 420 21 879 25 188 26 933

5 717 6 115 6 610 7 876 8 681

5 474 6 481 7 502 8 397 8 981

8 069 8 709 9 362 10 193 11 343

6 029 6 516 7 646 8 914 9 514

13 521 14 886 17 307 19 853 21 033

9 848 11 037 13 145 14 829 15 686

1980 1981 1982 1983 1984

............................. ............................. ............................. ............................. .............................

117 857 129 073 130 797 143 513 162 773

92 190 100 936 102 360 110 483 123 493

25 667 28 137 28 437 33 030 39 280

121 078 132 719 134 628 147 833 167 812

95 525 104 693 106 276 114 914 128 808

25 553 28 026 28 352 32 919 39 004

9 207 9 795 9 714 11 217 12 433

9 685 10 180 10 203 11 716 12 890

13 390 14 649 15 248 16 282 17 624

10 929 12 234 12 392 13 466 14 641

23 171 25 951 26 548 28 651 34 392

16 814 19 279 19 645 21 196 25 750

1985 1986 1987 1988 1989

............................. ............................. ............................. ............................. .............................

176 941 181 651 203 210 214 824 233 143

130 542 135 461 145 410 153 909 166 707

46 399 46 190 57 800 60 915 66 436

181 881 186 510 207 836 219 047 237 234

136 083 141 264 151 675 160 140 173 162

45 798 45 246 56 161 58 907 64 072

13 762 14 340 15 050 16 311 17 280

13 683 14 033 14 868 16 157 17 122

19 283 19 612 19 898 21 601 23 543

15 689 16 067 17 280 18 079 19 422

34 683 35 743 38 285 39 179 43 107

25 525 26 412 28 450 29 987 33 678

1990 ............................. 1991 ............................. 1992 .............................

236 152 239 478 248 198

170 635 176 344 181 697

65 517 63 134 66 501

239 815 243 389 252 185

176 708 182 508 188 051

63 107 60 881 64 134

17 442 17 649 17 934

17 015 16 718 17 234

25 038 25 580 25 738

19 690 20 263 22 249

42 377 45 764 48 630

33 387 36 110 38 033

NAICS Basis 1992 ............................. 1993 ............................. 1994 .............................

254 438 272 281 297 826

183 606 195 199 209 782

70 832 77 082 88 044

258 939 277 043 302 694

190 437 202 502 217 498

68 502 74 541 85 196

15 513 17 444 19 713

20 925 22 426 24 634

27 467 27 558 28 171

27 467 28 193 29 602

49 783 53 700 56 830

38 333 40 854 42 136

1995 1996 1997 1998 1999

............................. ............................. ............................. ............................. .............................

315 199 325 892 336 431 350 111 378 400

219 291 226 052 232 254 244 447 259 350

95 908 99 840 104 177 105 664 119 050

320 026 330 895 341 389 355 310 383 603

227 157 234 116 240 439 252 894 267 990

92 869 96 779 100 950 102 416 115 613

21 158 21 605 21 527 22 213 23 661

26 074 27 167 28 570 30 623 32 946

28 776 29 718 29 949 30 899 32 630

29 382 29 864 31 167 32 376 33 631

59 550 60 611 60 735 61 566 64 318

43 455 44 124 44 309 43 469 43 915

2000 2001 2002 2003 2004

............................. ............................. ............................. ............................. .............................

400 859 389 481 412 824 429 410 454 083

269 004 267 062 273 467 279 310 296 184

131 855 122 419 139 357 150 100 157 899

406 322 395 279 418 581 435 044 459 700

277 792 275 433 281 806 287 456 304 422

128 530 119 846 136 775 147 588 155 278

25 187 24 136 25 418 26 521 28 311

34 483 34 726 36 856 38 513 45 035

32 042 33 035 32 708 32 368 33 458

36 492 35 185 36 715 37 381 37 775

64 946 64 760 65 939 66 666 70 732

42 796 40 639 39 011 38 084 38 210

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

389 575 395 044 400 420 401 445 401 899 398 989

264 911 266 744 271 535 272 010 270 884 269 294

124 664 128 300 128 885 129 435 131 015 129 695

397 680 399 802 398 391 398 757 403 429 404 070

275 679 275 374 275 007 275 253 276 679 277 089

122 001 124 428 123 384 123 504 126 750 126 981

24 700 24 878 24 940 24 912 25 292 25 145

34 968 35 086 35 538 35 632 35 520 35 552

32 852 32 823 32 663 32 605 32 543 32 506

35 183 34 737 34 481 34 791 34 846 35 218

64 363 64 358 63 848 63 707 64 308 63 957

39 934 39 805 39 356 38 990 38 937 38 884

July .............................. August .......................... September ................... October ........................ November .................... December ....................

394 585 394 969 410 580 434 995 445 220 412 824

272 628 276 258 288 103 303 268 307 644 273 467

121 957 118 711 122 477 131 727 137 576 139 357

407 896 407 745 412 834 414 800 417 149 418 581

278 823 278 834 281 076 280 067 280 578 281 806

129 073 128 911 131 758 134 733 136 571 136 775

25 457 25 312 25 715 25 615 25 559 25 418

35 525 35 607 36 175 36 665 36 561 36 856

32 342 32 522 32 773 32 204 32 341 32 708

35 666 35 715 36 092 36 146 36 214 36 715

64 825 64 865 64 984 65 028 65 890 65 939

39 153 38 950 38 891 38 681 39 134 39 011

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

412 449 420 273 429 725 431 504 424 700 421 335

270 757 274 058 280 314 280 080 275 923 274 397

141 692 146 215 149 411 151 424 148 777 146 938

420 745 424 620 426 708 427 551 425 587 426 112

281 620 282 849 283 725 283 237 281 808 282 293

139 125 141 771 142 983 144 314 143 779 143 819

25 385 25 363 25 178 25 191 25 176 25 659

36 316 37 034 37 163 36 617 36 598 36 799

32 578 32 703 32 835 32 728 32 648 32 608

37 107 37 308 37 541 37 277 37 238 37 184

65 720 65 303 65 690 66 570 65 794 65 755

38 816 38 355 38 664 39 332 38 633 38 509

July .............................. August .......................... September ................... October ........................ November .................... December ....................

413 044 408 491 424 464 450 341 462 160 429 410

277 322 280 000 292 391 309 509 314 606 279 310

135 722 128 491 132 073 140 832 147 554 150 100

426 799 422 504 427 705 430 198 433 691 435 044

283 659 282 901 285 579 286 144 287 232 287 456

143 140 139 603 142 126 144 054 146 459 147 588

25 673 25 727 25 925 26 419 26 551 26 521

36 804 37 111 38 234 37 929 38 243 38 513

32 732 32 718 32 856 32 533 32 423 32 368

37 232 37 294 37 232 37 126 37 445 37 381

65 973 65 301 66 248 66 858 66 379 66 666

38 376 37 928 38 448 38 719 38 107 38 084

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

426 652 433 615 446 548 453 306 447 428 448 342

276 293 279 260 286 823 288 770 287 376 287 032

150 359 154 355 159 725 164 536 160 052 161 310

435 268 437 810 442 677 448 168 448 167 453 403

286 976 288 048 290 016 291 562 293 375 294 958

148 292 149 762 152 661 156 606 154 792 158 445

26 264 26 287 26 712 26 835 27 105 27 026

38 524 39 209 39 779 40 173 41 019 41 575

32 469 32 366 32 459 32 673 33 053 33 210

37 177 37 261 37 266 37 583 37 749 37 568

66 905 67 056 67 587 67 764 67 932 68 612

38 185 38 006 38 046 38 117 38 036 37 950

July .............................. August .......................... September ................... October ........................ November .................... December ....................

440 699 442 504 452 081 473 667 488 042 454 083

288 456 293 374 304 296 322 039 329 528 296 184

152 243 149 130 147 785 151 628 158 514 157 899

456 359 460 631 457 805 453 864 458 828 459 700

295 326 296 884 297 752 298 612 301 505 304 422

161 033 163 747 160 053 155 252 157 323 155 278

27 186 27 520 27 432 27 075 27 513 28 311

42 213 42 628 42 841 43 552 44 133 45 035

33 231 33 195 33 196 33 289 33 576 33 458

37 281 37 510 37 538 37 628 37 722 37 775

68 440 68 766 68 978 68 988 70 035 70 732

37 884 37 912 37 773 38 006 38 130 38 210

1Excluding leased departments. 2Data are for roughly similar categories

. . . = Not available.

in SIC classification system.

360

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-11. Merchant Wholesalers—Sales and Inventories (Millions of dollars.) Not seasonally adjusted Sales Classification basis, year, and month Total

SIC Basis1 1972 .................................... 1973 .................................... 1974 ....................................

Durable goods establishments

Nondurable goods establishments

Seasonally adjusted

Inventories (current cost, end of period)

Sales

Durable goods establishments

Durable goods establishments

Total

Nondurable goods establishments

Total

Inventories (current cost, end of period) Nondurable goods establishments

Total

Durable goods establishments

Nondurable goods establishments

358 388 457 378 575 786

168 879 208 554 255 863

189 509 248 824 319 923

... ... ...

... ... ...

... ... ...

358 388 457 378 575 786

168 879 208 554 255 863

189 509 248 824 319 923

... ... ...

... ... ...

... ... ...

1975 1976 1977 1978 1979

.................................... .................................... .................................... .................................... ....................................

559 606 608 381 673 633 796 961 948 614

235 723 263 605 304 721 372 176 436 254

323 883 344 776 368 912 424 785 512 360

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

559 606 608 381 673 633 796 961 948 614

235 723 263 605 304 721 372 176 436 254

323 883 344 776 368 912 424 785 512 360

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

1980 1981 1982 1983 1984

.................................... .................................... .................................... .................................... ....................................

1 117 187 1 214 156 1 142 535 1 190 705 1 346 392

486 509 525 607 480 318 523 080 622 361

630 678 688 549 662 217 667 625 724 031

124 015 130 709 128 514 131 306 143 458

78 849 85 371 84 806 84 709 94 895

45 166 45 338 43 708 46 597 48 563

1 117 187 1 214 156 1 142 535 1 190 705 1 346 392

486 509 525 607 480 318 523 080 622 361

630 678 688 549 662 217 667 625 724 031

122 631 129 654 127 428 130 075 142 452

79 372 85 856 85 222 85 180 95 474

43 259 43 798 42 206 44 895 46 978

1985 1986 1987 1988 1989

.................................... .................................... .................................... .................................... ....................................

1 361 507 1 379 514 1 475 613 1 614 249 1 725 123

651 864 681 691 730 592 801 751 851 550

709 643 697 823 745 021 812 498 873 573

148 403 154 081 164 310 179 828 187 897

96 659 101 369 106 820 115 613 120 701

51 744 52 712 57 490 64 215 67 196

1 361 507 1 379 514 1 475 613 1 614 249 1 725 123

651 864 681 691 730 592 801 751 851 550

709 643 697 823 745 021 812 498 873 573

147 409 153 574 163 903 178 801 187 009

97 371 102 349 108 112 117 045 122 237

50 038 51 225 55 791 61 756 64 772

1990 .................................... 1991 .................................... 1992 ....................................

1 794 072 1 779 673 1 849 798

880 767 860 138 908 917

913 305 919 535 940 881

196 881 201 777 209 675

124 839 125 921 130 044

72 042 75 856 79 631

1 794 072 1 779 673 1 849 798

880 767 860 138 908 917

913 305 919 535 940 881

195 833 200 448 208 302

126 461 127 399 131 509

69 372 73 049 76 793

NAICS Basis 1992 .................................... 1993 .................................... 1994 ....................................

1 783 665 1 864 860 1 991 770

874 402 953 443 1 051 363

909 263 911 417 940 407

199 732 207 725 224 805

123 563 128 813 141 698

76 169 78 912 83 107

1 783 665 1 864 860 1 991 770

874 402 953 443 1 051 363

909 263 911 417 940 407

198 884 206 774 223 958

125 217 130 594 143 736

73 667 76 180 80 222

1995 1996 1997 1998 1999

.................................... .................................... .................................... .................................... ....................................

2 176 432 2 303 229 2 397 450 2 441 942 2 609 389

1 155 788 1 205 557 1 272 338 1 318 986 1 415 694

1 020 644 1 097 672 1 125 112 1 122 956 1 193 695

241 319 243 503 261 184 274 227 291 724

153 497 156 039 167 353 177 443 188 816

87 822 87 464 93 831 96 784 102 908

2 176 432 2 303 229 2 397 450 2 441 942 2 609 389

1 155 788 1 205 557 1 272 338 1 318 986 1 415 694

1 020 644 1 097 672 1 125 112 1 122 956 1 193 695

240 473 243 194 260 713 273 910 291 290

155 905 158 518 169 961 180 313 191 824

84 568 84 676 90 752 93 597 99 466

2000 2001 2002 2003 2004

.................................... .................................... .................................... .................................... ....................................

2 820 641 2 783 263 2 824 417 2 946 473 3 338 350

1 488 854 1 418 696 1 412 103 1 441 566 1 683 810

1 331 787 1 364 567 1 412 314 1 504 907 1 654 540

310 542 298 450 302 152 308 551 341 284

199 067 182 263 181 575 184 268 211 440

111 475 116 187 120 577 124 283 129 844

2 820 641 2 783 263 2 824 417 2 946 473 3 338 350

1 488 854 1 418 696 1 412 103 1 441 566 1 683 810

1 331 787 1 364 567 1 412 314 1 504 907 1 654 540

309 820 297 182 300 671 306 556 339 639

202 286 185 263 184 596 187 324 214 803

107 534 111 919 116 075 119 232 124 836

2002 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

219 866 210 219 233 575 237 125 243 399 233 024

108 327 105 533 118 375 119 474 122 517 119 558

111 539 104 686 115 200 117 651 120 882 113 466

299 900 295 162 294 870 292 811 289 757 291 728

182 824 182 063 181 531 182 427 181 281 181 746

117 076 113 099 113 339 110 384 108 476 109 982

228 388 229 841 229 429 233 322 234 148 235 800

115 726 117 090 115 374 117 545 118 290 118 899

112 662 112 751 114 055 115 777 115 858 116 901

296 330 293 512 293 711 292 376 292 754 294 027

183 971 181 779 181 278 180 685 180 487 180 873

112 359 111 733 112 433 111 691 112 267 113 154

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

240 892 244 464 236 567 254 587 233 851 236 848

121 271 122 771 119 854 126 401 114 005 114 017

119 621 121 693 116 713 128 186 119 846 122 831

295 292 293 513 295 765 299 762 299 999 302 152

184 501 183 332 182 881 182 542 182 495 181 575

110 791 110 181 112 884 117 220 117 504 120 577

236 348 239 648 239 013 238 398 241 110 238 726

118 517 119 800 118 911 117 653 118 016 116 117

117 831 119 848 120 102 120 745 123 094 122 609

296 219 297 292 298 523 297 701 298 058 300 671

182 152 183 211 183 545 183 062 183 677 184 596

114 067 114 081 114 978 114 639 114 381 116 075

2003 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

233 247 221 857 248 555 243 239 240 941 245 312

109 871 104 030 120 648 119 134 118 037 123 029

123 376 117 827 127 907 124 105 122 904 122 283

303 669 302 668 303 500 302 855 297 835 298 312

182 748 185 761 186 134 188 021 185 888 185 514

120 921 116 907 117 366 114 834 111 947 112 798

241 759 241 928 243 815 238 872 238 393 242 146

117 649 115 392 117 537 117 026 117 200 118 853

124 110 126 536 126 278 121 846 121 193 123 293

299 926 300 992 302 287 302 788 301 109 300 510

183 708 185 315 185 818 186 359 185 216 184 734

116 218 115 677 116 469 116 429 115 893 115 776

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

248 872 242 593 252 323 268 617 238 840 262 077

123 006 118 716 127 056 132 959 117 292 127 788

125 866 123 877 125 267 135 658 121 548 134 289

299 936 296 333 298 914 305 979 306 897 308 551

186 059 183 131 182 659 183 997 183 594 184 268

113 877 113 202 116 255 121 982 123 303 124 283

244 320 244 812 247 315 252 000 253 620 256 632

119 843 119 493 122 220 124 277 125 268 126 913

124 477 125 319 125 095 127 723 128 352 129 719

300 444 300 047 301 618 303 870 304 617 306 556

183 764 183 067 183 318 184 465 184 809 187 324

116 680 116 980 118 300 119 405 119 808 119 232

2004 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

242 406 244 470 293 994 278 992 270 405 288 191

115 651 119 492 148 998 141 614 135 596 149 418

126 755 124 978 144 996 137 378 134 809 138 773

310 844 313 298 314 796 313 777 313 590 318 112

187 284 191 498 193 146 195 326 197 572 200 625

123 560 121 800 121 650 118 451 116 018 117 487

258 049 263 099 271 357 274 066 275 390 275 668

127 188 130 696 136 316 138 600 138 959 139 702

130 861 132 403 135 041 135 466 136 431 135 966

306 364 310 711 312 836 313 657 317 339 320 876

188 188 190 886 192 682 193 638 196 834 199 883

118 176 119 825 120 154 120 019 120 505 120 993

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

274 407 286 758 287 225 288 126 287 448 295 928

140 493 145 989 146 612 145 452 144 695 149 800

133 914 140 769 140 613 142 674 142 753 146 128

324 806 325 584 327 746 336 092 340 126 341 284

205 342 206 815 207 410 210 675 212 386 211 440

119 464 118 769 120 336 125 417 127 740 129 844

277 482 280 837 282 514 286 341 288 654 291 456

140 908 142 449 141 846 144 224 145 616 149 270

136 574 138 388 140 668 142 117 143 038 142 186

325 495 329 417 330 462 334 466 338 544 339 639

202 953 206 783 208 195 211 288 213 845 214 803

122 542 122 634 122 267 123 178 124 699 124 836

1Data

are for roughly similar categories in SIC classification system. . . . = Not available.

CHAPTER 17: KEY SECTOR STATISTICS

361

Table 17-12. Selected Service Industries—Receipts of Taxable Firms, 1986–1998, by SIC Industry (By kind of business and SIC code, millions of dollars.)

Arrangement of passenger transportation (472)

Year

Real estate agents and managers (653)

Hotels, rooming houses, camps and other lodging places, except on membership basis (70, ex. 704)

Personal services (72)

Automotive Miscellaneous repair, repair services, and services parking (76) (75)

Business services (73)

Motion pictures (78)

1986 1987 1988 1989

.................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

7 465 8 196 9 521 11 041

48 360 52 919 58 980 62 325

47 634 53 630 58 637 61 229

39 587 43 247 48 329 51 832

170 250 188 856 223 369 251 648

53 867 58 278 66 053 70 961

22 478 24 599 27 659 30 064

23 740 27 754 31 746 36 173

1990 1991 1992 1993 1994

.................................................................................................. .................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

12 276 11 438 11 926 12 396 13 125

63 023 63 180 73 115 79 206 80 947

64 225 65 284 71 038 74 149 79 555

54 736 54 620 59 597 62 597 66 105

280 699 287 214 309 439 337 403 375 067

73 722 71 542 78 511 84 324 91 865

32 848 32 401 35 238 36 772 40 683

39 982 42 838 45 662 49 799 53 504

1995 1996 1997 1998

.................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

14 192 15 354 16 461 17 038

82 667 90 186 99 854 108 639

84 093 88 961 94 139 100 650

70 607 73 905 77 712 82 798

425 075 484 242 548 434 638 500

99 227 106 638 111 444 119 978

44 870 46 101 47 895 52 365

57 184 60 279 62 865 66 229

Amusement and recreation Health services services (80) (79)

Year

Vocational schools (824)

Legal services (81)

Social services (83)

Museums, art galleries, and botanical and zoological gardens (84)

Engineering, accounting, research, management and related services (87)

1986 1987 1988 1989

.................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

33 984 36 646 41 272 44 539

173 885 196 212 221 741 241 558

63 390 72 115 81 636 89 144

3 327 3 400 4 263 4 577

... ... ... ...

... ... ... ...

127 885 139 897 160 446 183 528

1990 1991 1992 1993 1994

.................................................................................................. .................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

50 126 51 654 57 699 63 651 68 453

271 212 293 907 321 653 335 108 351 419

97 640 100 027 108 443 112 145 114 603

4 519 4 183 4 429 4 507 4 710

15 509 16 365 18 201 20 146 22 498

144 154 192 222 231

198 395 202 696 215 624 222 853 235 447

1995 1996 1997 1998

.................................................................................................. .................................................................................................. .................................................................................................. ..................................................................................................

77 452 85 733 92 837 97 512

376 279 398 353 420 361 444 727

116 000 124 659 133 015 141 827

5 285 6 190 7 031 8 268

24 858 27 694 30 150 31 970

247 273 322 388

263 835 292 260 321 679 360 823

. . . = Not available.

Table 17-13. Selected Service Industries—Revenue of Tax-Exempt Firms, 1986–1998, by SIC Industry (By kind of business and SIC code, millions of dollars.)

Year

Selected Camps amuseand ment and Health member- recreation services ship services (80) lodging (792, 7991, (703, 704) 7997, 7999)

Legal aid societies and similar legal services (81)

Libraries (823)

Vocational schools (824)

Social services (83)

Museums, art Research, galleries, Selected developand membership and botanical organizations ment, testing and (86 [pt]) services zoological (873) gardens (84)

Commercial, physical, and biological research (8731)

Noncommercial research organizations (8733)

Management and public relations services (874, ex. 8744)

1986 1987 1988 1989

................................... ................................... ................................... ...................................

... ... ... ...

5 070 5 858 6 506 7 163

... ... ... ...

563 665 775 944

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

7 125 8 304 9 014 9 975

... ... ... ...

... ... ... ...

791 902 1 201 1 494

1990 1991 1992 1993 1994

................................... ................................... ................................... ................................... ...................................

798 782 808 817 836

7 922 8 160 8 993 10 279 11 560

267 858 298 168 324 416 345 081 363 112

1 088 1 162 1 161 1 190 1 241

476 481 527 606 655

507 486 549 569 612

45 255 49 055 53 673 59 052 63 493

2 871 3 048 3 199 3 615 3 972

31 458 33 288 36 256 39 426 41 907

11 035 11 463 12 534 13 180 13 919

... ... ... ... ...

... ... ... ... ...

1 933 2 150 2 246 2 588 3 119

1995 1996 1997 1998

................................... ................................... ................................... ...................................

846 877 929 993

12 778 13 299 14 600 15 360

385 210 401 047 414 990 436 078

1 278 1 259 1 446 1 599

730 754 850 934

696 772 871 943

70 303 75 240 83 235 90 458

4 295 4 729 6 231 6 566

45 873 48 897 51 098 55 955

14 493 14 906 16 839 18 732

5 951 5 703 5 950 6 770

7 688 8 293 9 953 10 753

3 732 4 821 6 583 7 761

. . . = Not available.

362

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 17-14. Selected Service Industries—Revenue, 1998–2003, by NAICS Industry (Millions of dollars.) NAICS code

Kind of business

Total for selected service industries

1998

1999

2000

2001

2002

2003

3 707 274

4 021 570

4 367 360

4 484 099

4 596 947

4 792 095

173 458

184 068

195 723

193 508

196 032

202 202

46 947 12 073

49 665 12 789

55 178 13 756

55 883 14 379

55 747 15 635

57 292 16 543

Information Publishing industries Motion picture and sound recording industries Broadcasting and telecommunications Information services and data processing services

694 204 202 142 61 237 382 429 48 396

774 415 219 876 65 983 426 598 61 958

853 307 233 935 69 799 470 920 78 653

876 620 233 625 71 148 486 939 84 908

882 873 232 896 76 034 483 999 89 944

897 111 234 453 80 025 491 926 90 707

5231

Securities and commodity contracts intermediation and brokerage

165 288

200 161

234 237

195 746

168 512

178 963

532

Rental and leasing services

90 073

98 620

106 628

104 794

102 429

103 195

54

Professional, scientific, and technical services (except notaries and landscape architectural services)

751 258

820 838

902 158

936 864

949 749

988 338

56

Administrative and support and waste management and remediation services (except landscaping services) Administrative and support services Waste management and remediation services

352 223

390 075

427 485

428 866

440 190

460 494

561 562

310 374 41 849

344 638 45 437

380 520 46 964

381 736 47 130

393 341 46 849

410 506 49 987

62 621 622 623 624

Health care and social assistance Ambulatory health care services Hospitals Nursing and residential care facilities Social assistance

963 848 399 518 397 373 100 138 66 820

1 006 045 417 221 413 035 102 633 73 155

1 064 421 443 510 430 329 108 885 81 697

1 149 621 480 135 462 215 116 415 90 856

1 245 658 518 702 507 206 122 733 97 017

1 326 727 559 421 536 268 128 401 102 637

71 711 712 713

Arts, entertainment, and recreation Performing arts, spectator sports, and related industries Museums, historical sites, and similar institutions Amusement, gambling, and recreation industries

123 968 50 337 7 222 66 409

131 533 53 333 7 671 70 529

140 020 56 990 8 291 74 740

147 460 60 084 8 237 79 139

157 436 65 094 7 801 84 540

166 028 67 085 8 275 90 669

81

Other services (except public administration, religious, labor, and political organizations, and private households) Repair and maintenance Personal and laundry services Religious, grantmaking, civic, professional, and similar organizations (except religious, labor, and political organizations)

484

Truck transportation

492 493

Couriers and messengers Warehousing and storage

51 511 512 513 514

811 812 813

333 934

353 361

374 447

380 358

382 686

395 202

133 797 88 436 111 702

139 732 94 003 119 627

146 350 99 631 128 467

152 476 103 426 124 457

154 354 106 951 121 381

159 971 107 946 127 286

CHAPTER 17: KEY SECTOR STATISTICS

Table 17-15. Selected Service Industries—Revenue Industry

363

—Total and E-Commerce, 1998–2003, by NAICS

1

(Millions of dollars, percent.) Value of revenue, 2002 NAICS code

Description Total

Total for selected service industries 1 484 492 493

Value of revenue, 2003

E-commerce revenue

E-commerce revenue

Total

4 868 907

41 185

5 076 846

49 945

235 478 167 308

3 317 2 410

242 067 171 539

4 203 3 297

52 932 15 238

813 B

54 409 16 119

906 B

Selected transportation and warehousing Truck transportation Couriers and messengers Warehousing and storage

51 511 513 51419

Information Publishing industries Broadcasting and telecommunications Online information services

875 323 230 916 482 496 31 842

11 058 5 362 2 549 1 823

889 276 232 427 490 390 32 267

12 367 5 989 2 416 2 304

5231 532

Selected finance Securities and commodity contracts intermediation and brokerage Rental and leasing services

256 879 163 080 96 910

4 191 4 071 B

273 847 173 111 97 806

4 464 4 371 B

5415

Selected professional, scientific, and technical services Computer systems design and related services

854 816 171 111

6 487 4 264

886 245 168 792

8 171 5 466

5615

Selected administrative and support and waste management and remediation services Travel arrangement and reservation services

418 091 26 461

10 544 6 408

436 833 27 589

11 611 6 747

62

Health care and social assistance services

1 203 390

B

1 282 342

B

71

Arts, entertainment, and recreation services

137 436

B

145 771

B

72

Accommodation and food services

465 080

B

485 082

B

811 813

Selected other services Repair and maintenance Religious, grantmaking, civic, professional, and similar organizations

325 504 131 537 121 381

1 097 254 639

337 577 136 533 127 286

1 905 275 1 323

E-commerce as percent of total revenue NAICS code

484 492 493

Description 1998

1999

2000

2001

2002

2003

Total for selected service industries 1

0.4

0.6

0.8

0.8

0.8

1.0

Selected transportation and warehousing Truck transportation

0.8 0.4

0.9 0.5

1.1 0.8

1.2 0.9

1.4 1.4

1.7 1.9

1.1 B

1.2 B

1.2 B

1.1 B

1.5 B

1.7 B

Couriers and messengers Warehousing and storage

51 511 513 51419

Information Publishing industries Broadcasting and telecommunications Online information services

0.4 0.8 0.1 3.6

0.7 1.4 0.2 5.1

1.1 2.0 0.4 6.4

1.2 2.1 0.5 5.7

1.3 2.3 0.5 5.7

1.4 2.6 0.5 7.1

5231 532

Selected finance Securities and commodity contracts intermediation and brokerage Rental and leasing services

0.9 1.3 B

1.4 2.0 B

1.8 2.5 B

1.3 1.9 B

1.6 2.5 B

1.6 2.5 B

5415

Selected professional, scientific, and technical services Computer systems design and related services

0.4 1.2

0.6 1.8

0.7 1.9

0.6 1.9

0.8 2.5

0.9 3.2

5615

Selected administrative and support and waste management and remediation services Travel arrangement and reservation services

1.4 18.3

1.9 21.1

2.4 23.4

2.4 23.9

2.5 24.2

2.7 24.5

62

Health care and social assistance services

B

B

B

B

B

B

71

Arts, entertainment, and recreation services

B

B

B

B

B

B

72

Accommodation and food services

B

B

B

B

B

B

811 813

Selected other services Repair and maintenance Religious, grantmaking, civic, professional, and similar organizations

0.1 0.1 0.1

0.1 0.1 0.1

0.2 0.2 0.2

0.2 0.2 0.3

0.3 0.2 0.5

0.6 0.2 1.0

1Includes

data only for businesses with paid employees, except for accommodation and food services, which also includes businesses with and without paid employees. Note that accommodation and food services were not included in Table 17-14. B = Data do not meet publication standards because of high sampling variability or poor response quality. Unpublished estimates derived from this table by subtraction should be used with caution and not be attributed to the U.S. Census Bureau.

364

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLE 17-1 PETROLEUM AND PETROLEUM PRODUCTS— IMPORTS, DOMESTIC PRODUCTION, AND STOCKS SOURCES: FUTURES PRICE: U.S. DEPARTMENT OF ENERGY, ENERGY INFORMATION ADMINISTRATION (EIA), AND U.S. DEPARTMENT OF COMMERCE, BUREAU OF ECONOMIC ANALYSIS; IMPORTS: U.S. DEPARTMENT OF COMMERCE, BUREAU OF THE CENSUS (SEE NOTES AND DEFINITIONS TO TABLES 7-8 THROUGH 7-11); SUPPLY (NET IMPORTS AND DOMESTIC PRODUCTION) AND STOCKS: EIA. Definitions and notes on the data The crude oil futures price in current dollars per barrel is the price for next-month delivery in Cushing, Oklahoma (a pipeline hub), of light, sweet crude oil, as determined by trading on the New York Mercantile Exchange (NYMEX). Official daily closing prices are reported each day at 2:30 p.m. The monthly averages shown here are the average prices for the nearest future from each trading day of the month. For example, for most days in January, the futures contract priced will be for February; for the last few days in January, the February contract will have expired and the March contract will be quoted. The annual averages are averages of the monthly averages. The crude oil future price in 2000 dollars is calculated by the editor, dividing the current-dollar price by the chain price index for total personal consumption expenditures (PCE), with the average for the year 2000 set at 1.0000. The PCE chain price index is compiled by the Bureau of Economic Analysis (BEA). It is described in the notes and definitions to Chapter 1 and also presented in Chapter 8 and discussed in its notes and definitions. The import data in columns 3 through 6 of this table are those published as Exhibit 16, “Imports of Energy-related Petroleum Products, including Crude Petroleum,” of the monthly Census-BEA foreign trade press release. Total energy-related petroleum products includes the following Standard International Trade Classification (SITC) commodity groupings: crude oil, petroleum preparations, and liquefied propane and butane gas. The data in columns 7 through 11, on exports, imports, and net imports (imports minus exports) of petroleum and products and domestic production of crude oil and natural gas plant liquids, all expressed as thousands of barrels per day, and in columns 12 through 14, depicting stocks of crude oil in millions of barrels, are derived from the Department of Energy’s weekly petroleum supply reporting system. They are published in the Energy Information Administration publications “Petroleum Supply Monthly” and Monthly Energy Review. Stock

totals are as of the end of the period. Geographic coverage includes the 50 states and the District of Columbia. Data availability Data on supply and stocks are available from the Energy Information Administration Web site at . See the notes and definitions to Tables 7-8 through 7-11 for availability of import data. TABLE 17-2 CONSTRUCTION PUT IN PLACE SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

The Census Bureau’s estimates of the value of new construction put in place are intended to provide monthly estimates of the total dollar value of construction work done in the United States. Definitions and notes on the data The estimates cover all construction work done each month on new private residential and nonresidential buildings and structures, public construction, and improvements to existing buildings and structures. Included are the cost of labor, materials, and equipment rental; cost of architectural and engineering work; overhead costs assigned to the project; interest and taxes paid during construction; and contractor’s profits. The total value put in place for a given period is the sum of the value of work done on all projects underway during this period, regardless of when work on each individual project was started or when payment was made to the contractors. For some categories, estimates are derived by distributing the total construction cost of the project by means of historic construction progress patterns. Published estimates do represent payments made during a period for some categories. The statistics on the value of construction put in place result from direct measurement and indirect estimation. A series results from direct measurement when it is based on reports of the actual value of construction progress or construction expenditures obtained from a complete census or a sample survey. All other series are developed by indirect estimation using related construction statistics. On an annual basis, estimates for series directly measured monthly, quarterly, or annually accounted for about 71 percent of total construction in 1998 (private multifamily residential, private residential improvements, private nonresidential buildings, farm nonresidential construction, public utility construction, all other private construction, and virtually all of public construction). On a monthly basis, directly measured data are available for about 55 percent of the value in place estimates. Beginning in 1993, the Construction Expenditures Branch of the Manufacturing and Construction Division

CHAPTER 17: KEY SECTOR STATISTICS

began collecting these data using a new classification system, basing project types on their end usage instead of building/nonbuilding types. Data collection on this system for federal construction began in January 2002. With the changes in project classifications, data presented in these tables for 1993 to date are not directly comparable with data for previous years, except at aggregate levels. For that reason, Business Statistics shows earlier historical data only at these aggregate levels. Although some categories, such as lodging, office, education, and religion, have the same name as a category in previously published data, there have been changes within the classifications that make these values incomparable. For example, private medical office buildings were classified as “office” buildings previously, but are categorized as “health care” under the new classification. The seasonally adjusted data are obtained by removing normal seasonal movement from the unadjusted data to bring out underlying trends and business cycles, which is accomplished by using the Census X-12 ARIMA method. Seasonal adjustment accounts for month-to-month variations resulting from normal or average changes in any phenomena affecting the data, such as weather conditions, the differing lengths of months, and the varying number of holidays, weekdays, and weekends within each month. It does not adjust for abnormal conditions within each month or for year-to-year variations in weather. The seasonally adjusted annual rate is the seasonally adjusted monthly rate multiplied by 12. Residential includes new houses, town houses, apartments, and condominiums for sale or rent, built by the owner or for the owner on contract. It includes improvements inside and outside residential structures, such as remodeling, additions, major replacements, and additions of swimming pools and garages. Manufactured housing, houseboats, and maintenance and repair work are not included. Office includes general office buildings, administration buildings, professional buildings, and financial institution buildings. Office buildings at manufacturing sites are classified as manufacturing, but office buildings owned by manufacturing companies but not at such a site are included in the office category. In the state and local government category, office includes capitols, city halls, courthouses, and similar buildings. Commercial includes buildings and structures used by the retail, wholesale, farm, and selected service industries. One of the subgroups of this category is multi-retail, which includes department and variety stores, shopping centers and malls, and warehouse-type retail stores. Health care includes hospitals, medical buildings, nursing homes, adult day-care centers, and similar institutions.

365

Educational includes schools at all levels, higher education, trade schools, libraries, museums, and similar institutions. Amusement and recreation includes theme and amusement parks, sports structures not located at an educational institution, fitness centers and health clubs, neighborhood centers, camps, movie theaters, and similar establishments. Transportation includes airport facilities; rail facilities, track, and bridges; bus, rail, maritime, and air terminals; and docks, marinas, and similar structures. Communication includes telephone, television, and radio distribution and maintenance structures. Power includes electricity production and distribution and gas and crude oil transmission, storage, and distribution. Manufacturing includes all buildings and structures at manufacturing sites, but not the installation of production machinery or special-purpose equipment. Included in total private construction, but not shown separately in these pages, are lodging facilities (hotels and motels), religious structures, and private public safety, sewage and waste disposal, water supply, highway and street, and conservation and development spending. Included in total state and local construction, but not shown separately in these pages, are state and local construction of commercial buildings, conservation and development (dam, levee, jetty, and dredging), lodging, religious, and communication structures. Public safety includes correctional facilities, police and sheriffs’ stations, fire stations, and similar establishments. Highway and street includes pavement, lighting, retaining walls, bridges, tunnels, toll facilities, and maintenance and rest facilities. Sewage and waste disposal includes sewage systems, solid waste disposal, and recycling. Water supply includes water supply, transmission, and storage facilities. Among the data sources for construction expenditures are the Census Bureau’s Survey of Construction, Building Permits Survey, Consumer Expenditure Survey (conducted for the Bureau of Labor Statistics), Annual Capital Expenditures Survey, and Construction Progress Reporting Survey; also, data are included from the F.W. Dodge Division of the McGraw-Hill Information Systems Company, the U.S. Department of Agriculture, and utility regulatory agencies.

366

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Data availability Data are released monthly in a press release. The release, more detailed data, and a discussion of methodologies can be found on the Census Web site at . TABLE 17-3 HOUSING STARTS AND BUILDING PERMITS; NEW HOUSE SALES AND PRICES SOURCES: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

These data are mainly found in two major Bureau of the Census reports, New Residential Construction and New Residential Sales. They cover new housing units intended for occupancy and maintained by the occupants, excluding hotels, motels, and group residential structures. Manufactured home units are reported in a separate survey. Definitions A housing unit is a house, an apartment, or a group of rooms or single room intended for occupancy as separate living quarters (occupants must live separately from other individuals in the building and have direct access to the housing unit from the outside of the building or through a common hall). Each apartment unit in an apartment building is counted as one housing unit. As of January 2000, a previous requirement for residents to have the capability to eat separately has been eliminated. (Based on the old definition, some senior housing projects were excluded from the multifamily housing statistics because individual units did not have their own eating facilities.) Housing starts exclude group quarters such as dormitories or rooming houses, transient accommodations such as motels, and manufactured homes. Publicly owned housing units are excluded, but units in structures built by private developers with subsidies or for sale to local public housing authorities are both classified as private housing. The start of construction of a privately owned housing unit is when excavation begins for the footings or foundation of a building intended primarily as a housekeeping residential structure and designed for nontransient occupancy. All housing units in a multifamily building are defined as being started when excavation for the building begins. Starts are estimated for all areas, regardless of whether permits are required. One-family structures includes fully detached houses, semi-detached houses, row houses, and townhouses. In the case of attached units, each must be separated from the adjacent unit by a ground-to-roof wall to be classified as a one-unit structure and must not share facilities such as heating or water supply. Units built one on top of another and those built side-by-side without a ground-to-

roof wall and/or with common facilities are classified by the number of units in the structure. Apartment buildings are defined as buildings containing five units or more. The type of ownership is not the criterion—a condominium apartment building is not classified as one-family but as a multifamily structure. A manufactured home is a moveable dwelling, 8 feet or more wide and 40 feet or more long, designed to be towed on its own chassis, with transportation gear integral to the unit when it leaves the factory, and without need of a permanent foundation. Multiwides and expandable manufactured homes are included. Excluded are travel trailers, motor homes, and modular housing. The shipments figures are based on reports submitted by manufacturers on the number of homes actually shipped during the survey month. Shipments to dealers may not necessarily be placed for residential use in the same month as they are shipped. The number of manufactured “homes” used for nonresidential purposes (for example, offices) is not known. Units authorized by building permits represents the approximately 97 percent of housing in permit-requiring areas. New house sales are reported only for new single-family residential structures. The sales transaction must intend to include both house and land. Excluded are houses built for rent, houses built by the owner, and houses built by a contractor on the owner’s land. A sale is reported when a deposit is taken or a sales agreement signed, which can occur prior to a permit being issued. A house is for sale when a permit to build has been issued (or work begun in nonpermit areas) and a sales contract has not been signed nor a deposit accepted. The sales price used in this survey is the price agreed upon between the purchaser and the seller at the time the first sales contract is signed or deposit made. It includes the price of the improved lot. The median sales price is the sales price of the house that falls on the middle point of a distribution by price of the total number of houses sold. Half of the houses sold have a sales price less than the median; half have a greater price. Changes in the sales price data reflect changes in the distribution of houses by region, size, etc., as well as changes in the prices of houses with identical characteristics. The price index measures the change in price of a new single-family house of constant physical characteristics, using the characteristics of houses built in 1996. Characteristics held constant include floor area, whether inside or outside a metropolitan area, number of bedrooms, number of bathrooms, number of fireplaces, type of parking facility, type of foundation, presence of a deck, construction method, exterior wall material, type of heating, and presence of air-conditioning. The indexes are cal-

CHAPTER 17: KEY SECTOR STATISTICS

culated separately for attached and detached houses and combined with base period weights. The price measured includes the value of the lot. Notes on the data Monthly permit authorizations are based on data collected by a mail survey from a sample of 8,500 permit-issuing places, selected from a universe of 20,000 such places in the United States. Data for 1994 through 2003 represented 19,000 places; data for 1984 through 1993 represented 17,000 places; data for 1978 through 1983 were for 16,000 places; data for 1972 through 1977 represented 14,000 places; and data for 1971 were for 13,000 places. For 2004, the permit data were compiled for both the new 20,000 place universe and the old 19,000 place universe. Ratios of the new estimates to the old were calculated by state for total housing units, structures by number of units, and valuation. For the United States total, the new estimate was 100.9 percent of the old estimate. The complete table of ratios can be found on the Census Web site at . Housing starts and sales data are obtained from the Survey of Construction, in which Census field representatives sample both permit-issuing and non-permit-issuing places. Effective with the data for April 2001, the Census Bureau made changes to the methodology used for new house sales, including discontinuing an adjustment for construction in areas in which building permits are required without a permit being issued. It was believed that such unauthorized construction has virtually ceased. The upward adjustment was not phased out but dropped completely in revised estimates as of January 1999. The total effect of these changes was to lower the number of sales by about 2.9 percent relative to those published for earlier years. The data used in the price index are also collected in the Survey of Construction, through monthly interviews with the builders or owners. The size of the sample is currently about 20,000 observations per year. Data availability and references Housing starts and building permit data have been collected monthly by the Bureau of the Census since 1959. The monthly report for New Residential Construction (permits, starts, and completions) is issued around the middle of the following month. The monthly report and associated descriptions and historical data can be found at . The monthly report for New Residential Sales (sales, houses for sale, and prices) is issued toward the end of the following month. The monthly report and associated descriptions and historical data can be found at .

367

The manufactured housing data (not seasonally adjusted) and background information can be accessed at . Data with and without seasonal adjustment can be found at . Data and background on the price index for new onefamily houses can be found at . TABLES 17-4 THROUGH 17-7 MANUFACTURERS’ SHIPMENTS, INVENTORIES, AND ORDERS SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

These data are from the Bureau of the Census monthly M3 survey, a sample-based survey intended to provide measures of changes in the value of domestic manufacturing activity and indications of future production commitments. The sample includes most companies with $500 million or more in annual shipments, along with a selection of smaller ones. Currently, reported monthly data represent approximately 60 percent of shipments at the total manufacturing level. One important technology industry, semiconductors, is represented in the shipments and inventories data in this report but not in new or unfilled orders. This affects the new and unfilled orders totals for computers and electronic products, durable goods industries, and total manufacturing. Based on recent shipments data, semiconductors account for about 15 percent of computers and electronic products, 3 percent of durable goods industries, and 1.5 percent of total manufacturing. Since semiconductors are intermediate materials and components rather than finished final products, the absence of these data does not distort new and unfilled orders data for important final demand categories such as capital goods and information technology. The Census Bureau now compiles this survey on the NAICS classification system, and has restated historical data on the NAICS basis back to January 1992. To allow the user to observe the difference between levels of activity implied by the two systems, and to “link” the new data to older data if a longer time series is required, Business Statistics is republishing (on the same page with the new data) the previous SIC-based annual data up through 1992, providing an overlap with the new data in that year. Link factors can be calculated as the ratio of the 1992 NAICS value to the value of the most closely related SIC category. The SIC values multiplied by these link factors will yield a roughly comparable series without discontinuity. Where overlapping 1992 values are not available, as in the case of new orders, the link factor calculated on shipments can be used for an approximation.

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BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Classification changes in NAICS There were three major changes from SIC to NAICS that affected the level and trend of manufacturing as a whole: publishing was moved out of manufacturing to the new information industry; some research and development activities were moved out of aerospace manufacturing; and logging was moved out of manufacturing to the agriculture, forestry, fishing, and hunting group. A few relatively small activities, the largest of which are dental laboratories and retail bakeries, have been shifted into manufacturing based on similarity of production process. In addition, there was a major rearrangement of industries within manufacturing, yielding groupings that are more relevant in today’s economy. Three new industry groups—NAICS 333, machinery; 334, computers and electronic products; and 335, electrical equipment, appliances, and components have been constituted, mainly from individual industries that were previously represented in SIC 35, industrial machinery (which included computers); SIC 36, electronic and electric equipment; and SIC 38, instruments. Other notable features in NAICS include moving beverages out of the food group into a new beverages and tobacco group and replacement of the old textile mill products group with two new groups, textile mills and textile products. In many cases, the changes are so pervasive that it is not possible to match major SIC and NAICS industries. In Tables 17-4 through 17-7, SIC industries for 1992 and earlier years have been roughly aligned with the new NAICS categories, but a comparison of the old with the new data for 1992 indicates that in many cases, even after this alignment, the old and new industry groupings are still substantially different. Definitions and notes on the data Shipments. The value of shipments data represent net selling values, f.o.b. (free on board) plant, after discounts and allowances and excluding freight charges and excise taxes. For multi-establishment companies, the M3 reports are typically company- or division-level reports that encompass groups of plants or products. The data reported are usually net sales and receipts from customers and do not include the value of interplant transfers. The reported sales are used to calculate month-to-month changes that bring forward the estimates for the entire industry (that is, estimates of the statistical “universe”) that have been developed from the Annual Survey of Manufactures (ASM). The value of products made elsewhere under contract from materials owned by the plant is also included in shipments, along with receipts for contract work performed for others, resales, miscellaneous activities such as the sale of scrap and refuse, and installation and repair work performed by employees of the plant. Inventories. Inventories in the M3 survey are collected on a current cost or pre-LIFO (last in, first out) basis. As dif-

ferent inventory valuation methods are reflected in the reported data, the estimates differ slightly from replacement cost estimates. Companies using the LIFO method for valuing inventories report their pre-LIFO value; the adjustment to their base-period prices is excluded. In the ASM, inventories are collected according to this same definition. However, there are discontinuities in the historical data in both surveys. Inventory data prior to 1982 are not comparable to later years because of changes in valuation methods. Until 1982, respondents were asked in the ASM to report their inventories at book values—that is, according to whatever method they used for tax purposes (LIFO, FIFO [first in, first out], and so forth). Because of this, the value of aggregate inventories for an industry was not precise. The change in instructions for reporting current cost inventories was carried to the monthly survey beginning in January 1987. The data for 1982 to 1987 were redefined (but not re-collected by survey) on a pre-LIFO or current cost basis. Inventory data are requested from respondents by three stages of fabrication: finished goods, work in process, and raw materials and supplies. There are several limitations to the quality of these data for two reasons. First, response to the stage of fabrication inquiries is lower than for total inventories; not all companies keep their monthly data at this level of detail. Second, a product considered to be a finished good in one industry, such as steel mill shapes, may be reported as a raw material in another industry, such as stamping plants. For some purposes, this difference in definitions is an advantage rather than a problem. When a factory accumulates inventory that it considers to be raw materials, it can be expected that that accumulation is intentional. But when a factory—whether a materials-making or a finalproduct producer—has a buildup of finished goods inventories, it may indicate involuntary accumulation as a result of sales falling short of expectations. Hence, the two types of accumulation can have different economic interpretations, even if they represent identical types of goods. Like total inventories, stage of fabrication inventories are also benchmarked to the ASM data. Stage of fabrication data are benchmarked at the major group level, as opposed to the level of total inventories, which is benchmarked at the individual industry level. New orders, as reported in the monthly survey, is net of order cancellations and includes orders received and filled during the month as well as orders received for future delivery. They also include the value of contract changes that increase or decrease the value of the unfilled orders to which they relate. Orders are defined to include those supported by binding legal documents such as signed contracts, letters of award, or letters of intent, although this definition may not be strictly applicable in some industries.

CHAPTER 17: KEY SECTOR STATISTICS

Unfilled orders includes new orders (as defined above) that have not been reflected as shipments. Generally, unfilled orders at the end of the reporting period are equal to unfilled orders at the beginning of the period plus net new orders received less net shipments. Series are adjusted for seasonal variation and variation in the number of trading days in the month using the X-12 ARIMA version of the Census Bureau’s seasonal adjustment program. Benchmarking and revisions The M3 series are periodically benchmarked and seasonal adjustment factors recalculated. In the latest benchmark, published in August 2005 and available on the Census Web site, the shipments and inventory data were benchmarked to the 2002 Census of Manufacturing and the 2003 Annual Survey of Manufactures (ASM), new orders were adjusted to be consistent with the benchmarked shipments and inventory data, and other corrections were made. Seasonal adjustment factors were also updated for all series, with revisions back to 1992. Data availability and references Data have been collected monthly since 1958. The Advance Report on Durable Goods Manufacturers’ Shipments, Inventories, and Orders is available as a press release about 18 working days after the end of each month. It includes seasonally adjusted and not seasonally adjusted estimates of shipments, new orders, unfilled orders, and inventories for durable goods industries The Manufacturer’s Shipments, Inventories, and Orders reports are released on the 23rd day after the end of the month. Content includes revisions to the advance durable goods data, estimates for nondurable goods industries, tabulations by market category, and ratios of shipments to inventories and to unfilled orders. Revisions may affect selected data for the two previous months. Press releases, historical data, descriptions of the survey, and extensive documentation of the new NAICS including comparisons with the SIC are available on the Census Bureau Web site at . TABLE 17-8 MOTOR VEHICLE SALES AND INVENTORIES SOURCE: U.S. DEPARTMENT ECONOMIC ANALYSIS

OF

COMMERCE, BUREAU

OF

Retail sales and inventories of cars, trucks, and buses. These estimates are prepared by the Bureau of Economic Analysis, based on data from the American Automobile Manufacturers Association, Ward’s Automotive Reports, and other sources. Seasonal adjustments are recalculated annually. Data are available on the BEA Web site at as a part of

369

the national income and product accounts data set; they are found under the classification “Supplemental Estimates.” They are also available on the STAT-USA subscription Web site at . TABLES 17-9 AND 17-10 RETAIL SALES AND INVENTORIES SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

Each month, the Bureau of the Census prepares estimates of retail sales and inventories by kind of business based on a mail-out/mail-back survey of a sample of companies with one or more establishments that sell merchandise and related services to final consumers. Retail sales and inventories are now compiled using the new NAICS classification system, which replaced the old SIC. Historical data have been restated on the NAICS basis back to January 1992. To allow the user to observe the difference between levels of activity implied by the two systems, and to “link” the new data to older data if a longer time series is required, Business Statistics is republishing (on the same page with the new data) the previous SIC-based annual data up through 1992, providing an overlap with the new data in that year. Classification changes in NAICS • In NAICS, eating and drinking places and mobile food services have been reclassified out of retail and into sector 72, accommodation and food services, which also includes hotels. The retail sales survey still collects and publishes sales data for food services and drinking places. It no longer includes them in the “retail” total, but they are included in a new “retail and food services” total. • Some activities, such as retail bakeries, are shifted to manufacturing, based on use of the same production processes. • Partly offsetting these losses, a significant number of businesses are shifted from wholesale to retail trade, including a number of sellers of lumber; construction and lawn equipment; electrical, plumbing, and farm supplies; computers; and office supplies. Establishments which are designed to attract walk-in customers and which use mass-media advertising are now classified as retail, even if they also serve business and institutional clients. Data are published under the NAICS system for a new group consisting of sporting goods, hobby, book, and music stores. In addition, total sales of nonstore retailers and a subgroup of nonstores—electronic shopping and mail order houses—are now published. Store retailers operate fixed point-of-sale locations designed to attract walk-in customers, display merchandise, use mass-media advertising, and may provide after-sales services.

370

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Nonstore retailers, on the other hand, sell by “infomercials,” paper and electronic catalogs, door-to-door and inhome selling, portable stalls, or vending machines.

within department stores. The values for sales and inventories at department stores in Tables 17-9 and 17-10 exclude sales of leased departments.

Subtotals of durable and nondurable goods are no longer published. They were always quite imprecise for retail sales, since general merchandise stores (including department stores) were included in nondurable goods, yet obviously sold substantial quantities of durable goods.

GAFO (department store type goods) represents sales at general merchandise stores and at other stores that sell merchandise normally sold in department stores—clothing and accessories, furniture and home furnishings, electronics, appliances, sporting goods, hobby, book, music, office supplies, stationery, and gifts.

For further information, see Chapter 14. Special note on retail e-commerce Beginning with the fourth quarter of 1999, the Census Bureau has conducted a quarterly survey of retail e-commerce sales. (The monthly survey does not report electronic shopping separately but combines it with mailorder.) This survey has not yet supplied a long enough history for a data page in Business Statistics, but the data available thus far are presented and discussed in the “New Data for the U.S. Economy” article at the beginning of this volume. The quarterly release is issued around the 20th of February, May, August, and November, and is available on the Census Bureau Web site. Definitions Sales is the value of merchandise sold for cash or credit at retail or wholesale. Services that are incidental to the sale of merchandise, and excise taxes that are paid by the manufacturer or wholesaler and passed along to the retailer, are also included. Sales are net, after deductions for refunds and merchandise returns. They exclude sales taxes collected directly from customers and paid directly to a local, state, or federal tax agency. The sales estimates include only sales by establishments primarily engaged in retail trade, and are not intended to measure the total sales for a given commodity or merchandise line. Inventories is the value of stocks of goods held for sale through retail stores, valued at cost, as of the last day of the report period. Stocks may be held either at the store or at warehouses that maintain supplies primarily intended for distribution to retail stores within the organization. Inventory data prior to 1980 are not comparable to later years due to changes in valuation methods. Prior to 1980, inventories are the book values of merchandise on hand at the end of the period. They are valued according to the valuation method used by each respondent. Thus the aggregates are a mixture of LIFO (last in, first out) and non-LIFO values. Beginning with 1980, inventories are valued using methods other than LIFO in order to better reflect the current costs of goods held as inventory. Leased departments consists of the operations of one company conducted within the establishment of another company, such as jewelry counters or optical centers

Notes on the data The new NAICS-based data have been benchmarked to the 2002, 1997, and 1992 Economic Censuses and the Annual Retail Trade Survey for 2003 and previous years. Each year, the monthly series are benchmarked to the latest annual survey and new factors are incorporated to adjust for seasonal, trading-day, and holiday variations, using the Census Bureau’s X-12 ARIMA program. At the time of the latest benchmark revision, issued in March 2005, some components were revised back to 1992 to reflect new classification rules for the boundary between the retail trade and wholesale trade sectors. The survey sample is stratified by kind of business and estimated sales. All firms with sales above applicable size cutoffs are included. Firms are selected randomly from the remaining strata. The sample used for the end-ofmonth inventory estimates is a subsample of the monthly sales sample, about one-third of the size of the whole sample. New samples, designed to produce NAICS estimates, were introduced with the 1999 Annual Retail Trade Survey and the March 2001 Monthly Retail Trade Survey. Data availability and references An Advance Monthly Retail Sales report is released about nine working days after the close of the reference month, based on responses from a sub-sample of the complete retail sample. The revised and more complete monthly Retail Trade, Sales, and Inventories reports are released six weeks after the close of the reference month. They contain preliminary figures for the current month and final figures for the prior 12 months. Statistics include retail sales, inventories, and ratios of inventories to sales. Data are both seasonally adjusted and unadjusted. The Annual Benchmark Report for Retail Trade is released each spring. It includes updated seasonal adjustment factors; revised and benchmarked monthly estimates of sales and inventories; monthly data for the most recent 10 years; detailed annual estimates and ratios for the United States by kind of business; and comparable prior-year statistics and year-to-year changes.

CHAPTER 17: KEY SECTOR STATISTICS

Data and documentation are available on the Census Bureau Web site at . TABLE 17-11 MERCHANT WHOLESALERS: SALES AND INVENTORIES SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

371

A survey has been conducted monthly since 1946. New samples are drawn every 5 years, most recently in 2001. The samples are updated every quarter to add new businesses and to drop companies that are no longer active. Data availability and references

OF THE

These data are based on a monthly mail-out/mail-back sample survey conducted by the Census Bureau. These data are now based on the new NAICS classification system, replacing the old SIC system. Historical data have been restated on the NAICS basis back to January 1992. To allow the user to observe the difference between levels of activity implied by the two systems, and to “link” the new data to older data if a longer time series is required, Business Statistics is republishing (on the same page with the new data) the previous SIC-based annual data up through 1992, providing an overlap with the new data in that year. Classification changes in NAICS NAICS shifts a significant number of businesses from the wholesale to the retail sector. An important new criterion for classification concerns whether or not the establishment is intended to solicit walk-in traffic. If it is, and if it uses mass-media advertising, it is now classified as retail, even if it also serves business and institutional clients. (See notes on retail trade, above, for the major categories involved in this shift.) In the latest benchmark revision, some components were revised back to 1992 to reflect new classification rules for the boundary between the retail trade and wholesale Trade sectors. Definitions Merchant wholesalers includes merchant wholesalers that take title of the goods they sell, as well as jobbers, industrial distributors, exporters, and importers. Excluded are non-merchant wholesalers, such as manufacturer sales branches and offices; agents, merchandise or commodity brokers; and commission merchants. Notes on the data Inventory data prior to 1980 are not comparable to later years because of changes in valuation methods, and are not included in this book. Prior to 1980, inventories are book values of stocks on hand at the end of the period and are valued according to the valuation method used by each respondent. Thus, the aggregates are a mixture of LIFO (last in, first out) and non-LIFO values. Beginning with 1980, inventories are valued using methods other than LIFO in order to better reflect the current costs of goods held as inventory.

Monthly Wholesale Trade, Sales, and Inventories reports are released six weeks after the close of the reference month. They contain preliminary current-month figures and final figures for the previous month. Statistics include sales, inventories, and stock/sale ratios, along with standard errors. Data are both seasonally adjusted and unadjusted. The Annual Benchmark Report for Wholesale Trade is released each spring. It contains estimated annual sales, monthly and year-end inventories, inventory/sales ratios, purchases, gross margins, and gross margin/sales ratios by kind of business. Annual estimates are benchmarked to the most recent census of wholesale trade. This report also presents the results of a benchmarking operation that revises monthly sales and inventories estimates. Seasonal adjustment factors are revised at the same time, and revised data for both seasonally adjusted and unadjusted values are published. Data and documentation are available on the Census Bureau Web site at . TABLES 17-12 THROUGH 17-15 SELECTED SERVICE INDUSTRIES—RECEIPTS AND REVENUE SOURCE: U.S. DEPARTMENT CENSUS

OF

COMMERCE, BUREAU

OF THE

The Census Service Annual Survey provides annual estimates of revenues of taxable and tax-exempt firms for selected service industries. The survey is based on a sample of establishments. For 1986–1998, the data were collected using the old Standard Industrial Classification System (SIC), and were tabulated separately for taxable and nontaxable firms. These data are shown in Tables 17-12 and 17-13. Data from 1998 through 2003 were collected using the North American Industry Classification System (NAICS), and the data for each industry include both taxable and nontaxable firms. These data are shown in Tables 17-14 and 17-15. See Chapter 14 for information on comparability of industries in the new and old classification systems. The first quarterly estimates of revenue for selected service industries were published in September 2004, presenting data for the fourth quarter of 2003 and the first two quarters of 2004. They are presented and discussed in the

372

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

“New Data for the U.S. Economy” article at the beginning of this volume. Notes on the data In the SIC estimates for 1986–1998, separate estimates were developed for taxable and nontaxable firms in camps and membership lodging; selected amusement and recreation services; selected health services; legal services; libraries; vocational schools; social services; museums, art galleries, botanical gardens, and zoos; research, development, and testing services; and selected management and public relations services. Firms considered tax-exempt include membership lodging, membership organizations, and noncommercial research organizations. Firms in all remaining SICs were defined to be taxable. For taxexempt firms, employer firms only were sampled; for all other kinds of business, data represent combined estimates

for employer and nonemployer firms. Government-operated hospitals were included, while all other government establishments were excluded. In Table 17-15, total and e-commerce revenues are reported for the service industries represented in Table 17-14. They are also for NAICS industry 72, accommodation and food services, which is not represented in Table 17-14. Data availability Data are published annually as Current Business Reports, Service Annual Survey. They are available on the Census Bureau Web site at . The e-commerce estimates are found at .

PART C HISTORICAL DATA

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948

Figure 18–1. Output Per Capita, 1929–1948 (ratio scale)

Chained (2000) dollars

13,360 10,940 8,960 7,330 6,003

Output per capita

4,915

1929–1948 trend line

1929

1931

1933

1935

1937

1939

1941

1943

1945

1948

Year

• In 1929, a year of peak business activity and low unemployment, GDP per capita in the United States was $7,099, in 2000 prices. Over the next four years, per capita GDP would contract to just over $5,000. Production recovered after 1933, but the 1929 peak was not seen again until 1937. (Tables 18-2 and 18-4) • Production surged during World War II; most of the increase in output was war materiel, but real consumer spending also increased during the war years. In 1948, with the postwar demobilization complete, output per capita was $11,206, 58 percent higher than in 1929. The average annual growth rate in GDP per capita since 1929 was 2.4 percent—but as Figure 18-1 indicates, most of the 1930s was spent far below this trend line. (Table 18-2) • Prices declined throughout the 1929–1933 contraction. While this would seem to moderate the impact of falling incomes on individuals, it was in fact catastrophic for the economy. Falling prices and the anticipation of further decline destroy any incentive to invest immediately, when it is expected that prices will be still lower in the future. Even very low nominal interest rates become prohibitively high in real terms. Real gross private domestic investment collapsed by 1932 to just one-eighth of its 1929 level. (Tables 18-2 and 18-4) • The personal saving rate was 4.5 percent in 1929; by 1932, it was negative, as people spent their assets to keep their living standards from declining too greatly. Saving was back to around the 1929 level by 1936. (Table 18-1) • Worker incomes increased during the wartime boom as employment, average hours, and hourly wages all rose. Consumption spending opportunities were limited by rationing and production controls. (For example, passenger cars were simply not produced, as assembly lines were converted to building military vehicles.) This, along with “war bond” savings drives, contributed to a huge increase in personal saving, which peaked at 26.1 percent of disposable income in 1944. By 1947, the personal saving rate had returned to 4.3 percent, almost the same as its 1929 level. (Tables 18-1 and 18-4)

375

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948

377

Figure 18-2. Employment, 1929–1948 (ratio scale) 59.9

Millions

44.4

Employment

32.9

1929–1948 trend line

1929

1931

1933

1935

1937

1939

1941

1943

1945

1948

Year

• One-fifth of all the jobs held in the U.S. economy in 1929—8.25 million jobs—were gone by 1932. Employment was back to its 1929 level by 1936, but that was not enough to fully employ a growing labor force; an unemployment rate as low as that in 1929 would not be seen until after the United States entered World War II. Figure 18-2 displays a broad measure of employment, shown in Table 18-2, which includes the armed forces. (Tables 18-2 and 18-4) • In Table 18-4, civilian labor force data—only available from 1939 onward—are shown. Civilian employment rose by 8.7 million from 1939 to 1943, despite the withdrawal of members of the armed forces from the civilian population base. The unemployed found work, and women and others who had not previously sought jobs entered the labor force. The rise in nonfarm payroll jobs was even greater at 11.9 million. Workers left agriculture, household service, and other less-productive activities (which are included in civilian employment but not in the payroll series) for factory jobs making armaments, for government positions, and for other payroll employment. • Unemployment fell to 1.2 percent of the labor force in 1944. When the demobilization was over, unemployment only increased to 3.9 percent in 1946 and 1947, compared with the prewar (1939) rate of 17.2 percent (11.3 percent, if work relief is counted as employment instead of unemployment). (Table 18-4) • Prices rose rapidly early in the war. Under price controls and rationing, inflation subsided in 1944 and 1945, then rose again when the controls were lifted. (Table 18-4)

377

378

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 18-1. National Income and Product Accounts, 1929–1948 (Billions of current dollars, except as noted.) Classification

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

Gross domestic product, total ...................................................................

103.6

91.2

76.5

58.7

56.4

66.0

73.3

83.8

91.9

86.1

Personal consumption expenditures, total ............................................ Durable goods ................................................................................... Nondurable goods ............................................................................. Services ............................................................................................

77.4 9.2 37.7 30.5

70.1 7.2 34.0 29.0

60.7 5.5 29.0 26.2

48.7 3.6 22.7 22.3

45.9 3.5 22.3 20.2

51.5 4.2 26.7 20.5

55.9 5.1 29.3 21.5

62.2 6.3 32.9 23.0

66.8 6.9 35.2 24.7

64.3 5.7 34.0 24.6

Gross private domestic fixed investment, total ...................................... Nonresidential, total .......................................................................... Structures ...................................................................................... Equipment and software ............................................................... Residential ........................................................................................

14.9 11.0 5.5 5.5 4.0

11.0 8.6 4.4 4.2 2.4

7.0 5.3 2.6 2.6 1.8

3.6 2.9 1.4 1.5 0.8

3.1 2.5 1.1 1.4 0.6

4.3 3.3 1.2 2.1 0.9

5.6 4.3 1.4 2.8 1.3

7.5 5.8 1.9 3.9 1.7

9.5 7.5 2.7 4.8 2.1

7.7 5.5 2.1 3.4 2.1

Change in private inventories ................................................................

1.5

-0.2

-1.1

-2.4

-1.4

-0.6

1.1

1.2

2.6

-0.6

Net exports of goods and services ........................................................ Exports ............................................................................................. Imports ..............................................................................................

0.4 5.9 5.6

0.3 4.4 4.1

0.0 2.9 2.9

0.0 2.0 1.9

0.1 2.0 1.9

0.3 2.6 2.2

-0.2 2.8 3.0

-0.1 3.0 3.2

0.1 4.0 4.0

1.0 3.8 2.8

Government consumption expenditures and gross investment, total ... Federal .............................................................................................. National defense ........................................................................... State and local ..................................................................................

9.4 1.7 0.9 7.6

10.0 1.8 0.9 8.2

9.9 1.9 0.9 8.0

8.7 1.8 0.9 6.9

8.7 2.3 0.9 6.4

10.5 3.3 0.8 7.2

10.9 3.4 1.0 7.5

13.1 5.6 1.2 7.5

12.8 5.1 1.3 7.7

13.8 5.7 1.4 8.1

Gross national product ..............................................................................

104.4

91.9

77.0

59.1

56.7

66.3

73.6

84.0

92.2

86.5

National income, total ................................................................................ Compensation of employees ................................................................. Proprietors’ income with IVA and CCAdj ............................................... Farm ................................................................................................. Nonfarm ............................................................................................ Rental income of persons with CCAdj ................................................... Corporate profits with IVA and CCAdj ................................................... Net interest and miscellaneous payments ............................................ Taxes on production and imports .......................................................... Less: Subsidies less current surplus of government enterprises .......... Business current transfer payments (net) .............................................

94.2 51.1 14.2 5.8 8.4 6.2 10.8 4.6 6.8 0.0 0.5

83.1 46.9 11.1 4.0 7.0 5.5 7.5 4.8 7.0 0.0 0.5

67.6 39.8 8.5 3.1 5.3 4.5 2.9 4.8 6.7 0.1 0.5

51.3 31.1 5.1 1.8 3.3 3.6 -0.2 4.5 6.6 0.1 0.6

48.9 29.6 5.4 2.3 3.1 2.9 -0.1 4.0 6.9 0.1 0.5

58.3 34.3 7.1 2.7 4.4 2.6 2.5 4.0 7.6 0.4 0.5

66.3 37.4 10.2 5.0 5.2 2.6 4.0 4.1 8.0 0.5 0.5

75.0 42.9 10.4 4.0 6.4 2.8 6.2 3.8 8.5 0.2 0.5

83.6 48.0 12.6 5.7 6.9 3.0 7.1 3.7 8.9 0.2 0.5

76.8 45.0 10.6 4.1 6.6 3.6 5.0 3.6 8.9 0.4 0.4

Personal income, total ........................................................................... Less: Personal current taxes ................................................................. Equals: Disposable personal income (DPI) ........................................... Less: Personal outlays .......................................................................... Equals: Personal saving ........................................................................ As a percentage of DPI .....................................................................

85.1 1.7 83.4 79.6 3.8 4.5

76.3 1.6 74.7 71.6 3.1 4.1

65.3 1.0 64.3 61.8 2.5 3.9

49.9 0.7 49.2 49.7 -0.5 -0.9

46.9 0.8 46.1 46.8 -0.7 -1.5

53.7 0.9 52.8 52.3 0.5 1.0

60.4 1.1 59.3 56.7 2.6 4.3

68.7 1.3 67.4 63.1 4.3 6.3

74.1 1.9 72.2 67.9 4.3 6.0

68.4 1.9 66.6 65.3 1.3 2.0

Gross saving ............................................................................................. Net saving ............................................................................................. Net private saving ............................................................................. Net government saving, federal ........................................................ Net government saving, state and local ............................................ Consumption of fixed capital, private .................................................... Consumption of fixed capital, government ............................................

19.3 9.9 7.4 1.0 1.5 8.4 1.0

15.0 5.8 4.2 0.2 1.3 8.3 0.9

8.3 -0.3 0.9 -2.1 1.0 7.7 0.9

3.3 -4.2 -3.6 -1.3 0.7 6.7 0.8

3.3 -3.9 -3.4 -0.9 0.4 6.3 0.9

6.4 -1.2 -0.2 -2.2 1.2 6.5 1.1

9.6 2.1 2.8 -1.9 1.1 6.5 1.1

11.5 3.6 4.5 -3.2 2.3 6.6 1.2

16.2 7.5 5.2 0.2 2.0 7.4 1.3

11.7 2.8 2.1 -1.3 2.0 7.6 1.4

Gross domestic investment, total .............................................................. Private ................................................................................................... Government ..........................................................................................

19.3 16.5 2.8

13.9 10.8 3.2

8.9 5.9 3.0

3.4 1.3 2.1

3.7 1.7 1.9

6.4 3.7 2.7

9.5 6.7 2.8

12.8 8.6 4.1

15.9 12.2 3.8

11.3 7.1 4.2

Net lending or net borrowing (-), NIPAs ....................................................

0.8

0.7

0.2

0.2

0.2

0.4

-0.1

-0.1

0.2

1.2

Net domestic investment ...........................................................................

9.9

4.7

0.3

-4.1

-3.5

-1.2

1.9

4.9

7.3

2.3

Gross saving as a percentage of gross national income .......................... Net saving as a percentage of gross national income ..............................

18.6 9.6

16.3 6.3

10.9 -0.3

5.6 -7.2

5.8 -7.0

9.7 -1.8

13.0 2.8

13.9 4.4

17.5 8.1

13.7 3.2

379

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948 Table 18-1. National Income and Product Accounts, 1929–1948 —Continued (Billions of current dollars, except as noted.) Classification

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

Gross domestic product, total ...................................................................

92.2

101.4

126.7

161.9

198.6

219.8

223.1

222.3

244.2

269.2

Personal consumption expenditures, total ............................................ Durable goods ................................................................................... Nondurable goods ............................................................................. Services ............................................................................................

67.2 6.7 35.1 25.4

71.3 7.8 37.0 26.5

81.1 9.7 42.9 28.5

89.0 6.9 50.8 31.4

99.9 6.5 58.6 34.8

108.7 6.7 64.3 37.6

120.0 8.0 71.9 40.1

144.3 15.8 82.7 45.8

162.0 20.4 90.9 50.7

175.0 22.9 96.6 55.6

Gross private domestic fixed investment, total ...................................... Nonresidential, total .......................................................................... Structures ...................................................................................... Equipment and software ............................................................... Residential ........................................................................................

9.1 6.1 2.2 3.9 3.0

11.2 7.7 2.6 5.2 3.5

13.8 9.7 3.3 6.4 4.1

8.5 6.3 2.2 4.1 2.2

6.9 5.4 1.8 3.7 1.4

8.7 7.4 2.4 5.0 1.4

12.3 10.6 3.3 7.3 1.7

25.1 17.3 7.4 9.9 7.8

35.5 23.5 8.1 15.3 12.1

42.4 26.8 9.5 17.3 15.6

Change in private inventories ................................................................

0.2

2.4

4.3

1.9

-0.7

-0.9

-1.5

6.0

-0.6

5.7

Net exports of goods and services ........................................................ Exports ............................................................................................. Imports ..............................................................................................

0.8 4.0 3.1

1.5 4.9 3.4

1.0 5.5 4.4

-0.3 4.4 4.6

-2.2 4.0 6.3

-2.0 4.9 6.9

-0.8 6.8 7.5

7.2 14.2 7.0

10.8 18.7 7.9

5.5 15.5 10.1

Government consumption expenditures and gross investment, total ... Federal .............................................................................................. National defense ........................................................................... State and local ..................................................................................

14.8 6.0 1.5 8.8

15.0 6.5 2.5 8.6

26.5 18.0 14.3 8.6

62.7 54.1 51.1 8.6

94.8 86.5 84.2 8.4

105.3 97.0 94.5 8.4

93.0 84.1 82.0 9.0

39.6 28.9 25.2 10.8

36.4 22.7 18.2 13.7

40.6 24.2 18.3 16.3

Gross national product ..............................................................................

92.5

101.7

127.2

162.3

198.9

220.1

223.4

222.9

245.3

270.6

National income, total ................................................................................ Compensation of employees ................................................................. Proprietors’ income with IVA and CCAdj ............................................... Farm ................................................................................................. Nonfarm ............................................................................................ Rental income of persons with CCAdj ................................................... Corporate profits with IVA and CCAdj ................................................... Net interest and miscellaneous payments ............................................ Taxes on production and imports .......................................................... Less: Subsidies less current surplus of government enterprises .......... Business current transfer payments (net) .............................................

82.2 48.1 11.2 4.1 7.1 3.8 6.6 3.6 9.1 0.7 0.4

91.2 52.2 12.3 4.1 8.2 3.9 9.8 3.3 9.8 0.6 0.5

116.0 64.8 16.7 6.1 10.6 4.5 15.5 3.3 11.1 0.3 0.5

149.8 85.3 23.4 9.7 13.7 5.5 20.6 3.2 11.5 0.4 0.5

184.5 109.6 28.3 11.6 16.7 6.1 24.9 2.9 12.4 0.4 0.6

198.2 121.3 29.4 11.5 18.0 6.5 24.9 2.4 13.7 0.9 0.8

198.4 123.3 30.8 11.8 19.0 6.7 20.3 2.3 15.1 1.0 0.9

198.5 119.6 35.6 14.2 21.4 7.1 17.8 1.9 16.8 1.2 0.7

216.6 130.1 34.5 14.4 20.2 7.2 23.7 2.5 18.1 0.2 0.7

243.0 142.0 39.3 16.7 22.6 7.9 31.2 2.6 19.7 0.3 0.7

Personal income, total ........................................................................... Less: Personal current taxes ................................................................. Equals: Disposable personal income (DPI) ........................................... Less: Personal outlays .......................................................................... Equals: Personal saving ........................................................................ As a percentage of DPI .....................................................................

72.9 1.5 71.4 68.2 3.2 4.5

78.5 1.7 76.8 72.4 4.4 5.7

96.1 2.3 93.8 82.3 11.5 12.2

123.5 4.9 118.6 90.0 28.6 24.1

152.2 16.7 135.4 100.8 34.6 25.6

166.0 17.7 148.3 109.7 38.7 26.1

171.7 19.4 152.2 121.2 31.1 20.4

178.6 17.2 161.4 145.9 15.5 9.6

191.0 19.8 171.2 163.8 7.4 4.3

209.8 19.2 190.6 177.3 13.4 7.0

Gross saving ............................................................................................. Net saving ............................................................................................. Net private saving ............................................................................. Net government saving, federal ........................................................ Net government saving, state and local ............................................ Consumption of fixed capital, private .................................................... Consumption of fixed capital, government ............................................

13.6 4.6 4.6 -2.1 2.0 7.6 1.4

18.5 9.0 7.4 -0.3 2.0 7.9 1.5

29.8 19.0 14.9 2.2 1.9 8.8 2.0

39.8 26.4 33.6 -8.7 1.5 9.9 3.5

44.9 28.6 41.2 -14.1 1.5 10.0 6.2

39.9 20.5 45.8 -26.9 1.6 10.5 8.9

29.8 8.7 36.1 -29.0 1.6 10.9 10.1

38.4 15.1 18.6 -5.0 1.5 12.5 10.8

46.6 20.2 13.5 5.3 1.4 15.7 10.7

58.0 29.9 25.1 3.6 1.2 18.4 9.7

Gross domestic investment, total .............................................................. Private ................................................................................................... Government ..........................................................................................

13.8 9.3 4.5

18.0 13.6 4.4

28.9 18.1 10.8

39.0 10.4 28.5

45.2 6.1 39.1

44.4 7.8 36.6

35.0 10.8 24.1

34.6 31.1 3.5

39.6 35.0 4.6

55.1 48.1 7.0

Net lending or net borrowing (-), NIPAs ....................................................

1.0

1.5

1.3

-0.1

-2.1

-2.0

-1.3

4.9

9.3

2.4

Net domestic investment ...........................................................................

4.8

8.6

18.1

25.6

28.9

25.1

13.9

11.3

13.2

27.0

Gross saving as a percentage of gross national income .......................... Net saving as a percentage of gross national income ..............................

14.9 5.0

18.4 9.0

23.5 15.0

24.4 16.2

22.4 14.3

18.3 9.4

13.6 4.0

17.3 6.8

19.2 8.3

21.4 11.0

380

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 18-2. NIPA Data on Real Output, Prices, and Employment, 1929–1948 Classification

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

POPULATION Population (midperiod, thousands) ...........................................................

121 878

123 188

124 149

124 949

125 690

126 485

127 362

128 181

128 961

129 969

Real gross domestic product, total ............................................................ Per capita (2000 dollars) ................................................................... Personal consumption expenditures ..................................................... Gross private domestic investment ....................................................... Exports .................................................................................................. Imports .................................................................................................. Government ..........................................................................................

865.2 7 099 661.4 91.3 34.9 44.3 120.6

790.7 6 418 626.1 60.9 28.9 38.5 132.9

739.9 5 960 606.9 38.3 24.0 33.6 138.5

643.7 5 152 553.0 11.5 18.8 27.9 133.8

635.5 5 056 541.0 17.0 18.9 29.1 129.2

704.2 5 567 579.3 30.7 21.0 29.7 145.7

766.9 6 021 614.8 56.9 22.2 38.9 149.7

866.6 6 761 677.0 72.9 23.3 38.4 174.7

911.1 7 065 702.0 91.1 29.3 43.3 167.3

879.7 6 769 690.7 60.2 29.0 33.6 180.2

Disposable personal income ..................................................................... Per capita (2000 dollars) ...................................................................

712.7 5 848

666.8 5 413

643.5 5 183

558.4 4 469

542.3 4 315

594.5 4 700

652.2 5 121

733.6 5 723

758.6 5 882

715.5 5 505

11.94 ... 11.70 ...

11.48 -3.9 11.20 -4.2

10.33 -10.0 10.00 -10.8

9.15 -11.5 8.81 -11.9

8.91 -2.6 8.49 -3.6

9.35 4.9 8.88 4.6

9.53 2.0 9.10 2.4

9.64 1.2 9.18 1.0

10.00 3.7 9.52 3.6

9.81 -1.9 9.30 -2.3

BILLIONS OF CHAINED (2000) DOLLARS (Except as noted)

CHAIN-TYPE PRICE INDEXES, 2000 = 100 Gross domestic product ............................................................................ Percent change ................................................................................. Personal consumption expenditures ..................................................... Percent change ................................................................................. EMPLOYMENT, NIPA DATA (1942 SIC): FULL-TIME AND PART-TIME EMPLOYEES (Thousands) Total ..........................................................................................................

37 699

35 590

32 724

29 445

30 940

34 238

35 577

38 599

39 701

38 322

Domestic industries ...............................................................................

37 699

35 590

32 723

29 444

30 939

34 237

35 576

38 598

39 700

38 321

Private industries ............................................................................... Agriculture, forestry, and fisheries ................................................. Mining ............................................................................................ Contract construction .................................................................... Manufacturing ............................................................................... Durable goods ........................................................................... Nondurable goods ..................................................................... Transportation and public utilities .................................................. Wholesale trade ............................................................................ Retail trade and automobile services ............................................ Finance, insurance, and real estate .............................................. Services ........................................................................................

34 088 3 556 993 1 484 10 428 5 238 5 190 3 989 1 757 4 684 1 520 5 677

31 811 3 337 932 1 366 9 309 4 457 4 852 3 742 1 693 4 469 1 491 5 472

28 590 3 252 813 1 198 7 895 3 497 4 398 3 282 1 530 4 148 1 423 5 049

25 071 3 028 672 907 6 678 2 724 3 954 2 826 1 380 3 688 1 358 4 534

25 038 2 995 693 703 7 204 2 893 4 311 2 684 1 377 3 699 1 309 4 374

27 417 2 986 822 806 8 364 3 587 4 777 2 774 1 492 4 075 1 332 4 766

28 426 3 013 840 866 8 904 3 941 4 963 2 808 1 507 4 200 1 352 4 936

30 548 3 106 897 1 104 9 645 4 460 5 185 2 973 1 612 4 543 1 401 5 267

32 508 3 083 955 1 082 10 591 5 130 5 461 3 140 1 770 4 904 1 445 5 538

30 124 2 949 859 1 055 9 131 4 085 5 046 2 837 1 767 4 780 1 436 5 310

Government ......................................................................................

3 611

3 779

4 133

4 373

5 901

6 820

7 150

8 050

7 192

8 197

Federal .......................................................................................... General government ................................................................. Civilian, except work relief ..................................................... Military 1 ................................................................................ Work relief ............................................................................. Government enterprises ............................................................

981 644 267 377 ... 337

1 034 695 310 385 ... 339

1 019 683 296 387 ... 336

1 006 673 290 383 ... 333

1 470 1 135 294 370 471 335

2 227 1 868 357 371 1 140 359

2 209 1 835 449 396 990 374

4 993 4 612 521 438 3 653 381

4 085 3 698 517 474 2 707 387

4 987 4 583 507 504 3 572 404

State and local .............................................................................. General government ................................................................. Public education .................................................................... Nonschool, except work relief ............................................... Work relief ............................................................................. Government enterprises ............................................................

2 630 2 509 1 067 1 442 ... 121

2 745 2 618 1 095 1 503 20 127

3 114 2 984 1 105 1 580 299 130

3 367 3 249 1 093 1 564 592 118

4 431 4 317 1 069 1 524 1 724 114

4 593 4 473 1 069 1 570 1 834 120

4 941 4 815 1 097 1 621 2 097 126

3 057 2 922 1 118 1 713 91 135

3 107 2 967 1 149 1 762 56 140

3 210 3 070 1 180 1 871 19 140

Rest of the world ...................................................................................

0

0

1

1

1

1

1

1

1

1

1Includes

Coast Guard. . . . = Not available.

381

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948 Table 18-2. NIPA Data on Real Output, Prices, and Employment, 1929–1948 —Continued Classification

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

POPULATION Population (midperiod, thousands) ...........................................................

131 028

132 122

133 402

134 860

136 739

138 397

139 928

141 389

144 126

146 631

Real gross domestic product, total ............................................................ Per capita (2000 dollars) ................................................................... Personal consumption expenditures ..................................................... Gross private domestic investment ....................................................... Exports .................................................................................................. Imports .................................................................................................. Government ..........................................................................................

950.7 7 256 729.1 77.4 30.6 35.3 196.0

1 034.1 7 827 767.1 107.9 34.8 36.2 201.5

1 211.1 9 079 821.9 131.7 35.7 44.5 335.1

1 435.4 10 644 803.1 69.6 23.6 40.4 788.6

1 670.9 12 220 826.1 41.1 19.9 50.9 1 173.3

1 806.5 13 053 850.2 50.8 21.4 53.3 1 320.5

1 786.3 12 766 902.7 67.0 29.9 56.7 1 152.9

1 589.4 11 241 1 012.9 172.1 64.6 47.0 396.8

1 574.5 10 925 1 031.6 165.3 73.7 44.6 337.2

1 643.2 11 206 1 054.4 211.2 58.0 52.0 361.7

Disposable personal income ..................................................................... Per capita (2000 dollars) ...................................................................

774.9 5 914

826.5 6 255

950.7 7 127

1 069.9 7 934

1 119.9 8 190

1 160.7 8 387

1 145.3 8 185

1 132.7 8 011

1 090.3 7 565

1 148.4 7 832

9.69 -1.2 9.22 -0.9

9.77 0.9 9.29 0.8

10.40 6.5 9.86 6.1

11.26 8.2 11.08 12.3

11.88 5.6 12.09 9.1

12.16 2.4 12.78 5.7

12.48 2.6 13.29 4.0

13.93 11.7 14.25 7.2

15.49 11.2 15.70 10.2

16.37 5.7 16.60 5.7

Total ..........................................................................................................

39 633

41 437

45 785

50 219

55 995

57 221

55 548

49 643

49 936

51 332

Domestic industries ...............................................................................

39 632

41 435

45 782

50 214

56 016

57 276

55 614

49 690

49 941

51 325

Private industries ............................................................................... Agriculture, forestry, and fisheries ................................................. Mining ............................................................................................ Contract construction .................................................................... Manufacturing ............................................................................... Durable goods ........................................................................... Nondurable goods ..................................................................... Transportation and public utilities .................................................. Wholesale trade ............................................................................ Retail trade and automobile services ............................................ Finance, insurance, and real estate .............................................. Services ........................................................................................

31 612 2 859 832 1 219 9 967 4 609 5 358 2 943 1 833 4 992 1 470 5 497

33 518 2 809 927 1 285 10 882 5 367 5 515 3 064 1 899 5 321 1 518 5 813

37 210 2 779 975 1 774 13 137 6 999 6 138 3 311 2 014 5 754 1 559 5 907

39 728 2 692 985 2 131 15 284 8 846 6 438 3 458 1 916 5 623 1 531 6 108

40 723 2 563 917 1 566 17 402 10 924 6 478 3 652 1 808 5 570 1 475 5 770

39 749 2 372 879 1 110 17 050 10 722 6 328 3 822 1 828 5 529 1 447 5 712

38 183 2 259 829 1 135 15 186 8 933 6 253 3 926 1 927 5 717 1 477 5 727

40 379 2 343 871 1 739 14 493 7 742 6 751 4 113 2 286 6 769 1 692 6 073

42 458 2 427 933 2 062 15 205 8 330 6 875 4 173 2 480 7 061 1 744 6 373

43 431 2 498 981 2 278 15 276 8 309 6 967 4 212 2 573 7 223 1 811 6 579

BILLIONS OF CHAINED (2000) DOLLARS (Except as noted)

CHAIN-TYPE PRICE INDEXES, 2000 = 100 Gross domestic product ............................................................................ Percent change ................................................................................. Personal consumption expenditures ..................................................... Percent change ................................................................................. EMPLOYMENT, NIPA DATA (1942 SIC): FULL-TIME AND PART-TIME EMPLOYEES (Thousands)

Government ......................................................................................

8 020

7 917

8 572

10 486

15 293

17 527

17 431

9 311

7 483

7 894

Federal .......................................................................................... General government ................................................................. Civilian, except work relief ..................................................... Military 1 ................................................................................ Work relief ............................................................................. Government enterprises ............................................................

4 754 4 342 560 566 3 216 412

4 652 4 227 642 793 2 792 425

5 281 4 829 944 1 693 2 192 452

7 252 6 765 1 702 4 154 909 487

12 155 11 611 2 497 9 029 85 544

14 405 13 885 2 520 11 365 ... 520

14 258 13 722 2 420 11 302 ... 536

5 902 5 294 1 822 3 472 ... 608

3 808 3 268 1 436 1 832 ... 540

4 007 3 437 1 428 2 009 ... 570

State and local .............................................................................. General government ................................................................. Public education .................................................................... Nonschool, except work relief ............................................... Work relief ............................................................................. Government enterprises ............................................................

3 266 3 123 1 207 1 877 39 143

3 265 3 104 1 194 1 872 38 161

3 291 3 119 1 256 1 846 17 172

3 234 3 063 1 264 1 794 5 171

3 138 2 965 1 256 1 709 ... 173

3 122 2 956 1 256 1 700 ... 166

3 173 3 007 1 273 1 734 ... 166

3 409 3 236 1 347 1 889 ... 173

3 675 3 481 1 445 2 036 ... 194

3 887 3 657 1 504 2 153 ... 230

Rest of the world ...................................................................................

1

2

3

5

-21

-55

-66

-47

-5

7

1Includes

Coast Guard. . . . = Not available.

382

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 18-3. Fixed Assets: Current-Cost Values and Quantity Indexes, 1929–1948 Classification

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

CURRENT-COST NET STOCK OF FIXED ASSETS (Billions of dollars, year end) Total .......................................................................................................... Private, total .......................................................................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, total .................................................................................. Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Private and government fixed assets, total ........................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, by level Federal .............................................................................................. State and local ..................................................................................

274.3 233.5

263.0 223.4

226.2 190.1

208.6 173.0

225.1 183.3

231.6 185.7

235.7 187.0

260.7 206.5

275.5 218.4

277.9 218.7

33.1 80.6 119.8 40.8

31.7 77.3 114.3 39.7

29.0 67.6 93.5 36.1

26.0 63.1 83.9 35.7

25.8 65.7 91.7 41.8

26.0 67.1 92.7 45.9

25.4 67.4 94.2 48.7

27.5 74.4 104.7 54.2

29.8 77.2 111.3 57.2

29.7 75.9 113.1 59.2

2.4 38.4 0.0 274.3

2.3 37.3 0.0 263.0

2.3 33.8 0.0 226.2

2.3 33.4 0.0 208.6

2.3 39.4 0.0 225.1

2.6 43.2 0.0 231.6

2.8 45.8 0.0 235.7

3.0 51.1 0.1 260.7

3.2 53.8 0.2 275.5

3.3 55.6 0.2 277.9

35.5 119.0 119.8

34.0 114.7 114.3

31.3 101.4 93.5

28.3 96.4 84.0

28.2 105.2 91.7

28.6 110.3 92.7

28.3 113.2 94.2

30.5 125.4 104.8

33.0 131.0 111.5

33.0 131.5 113.4

7.9 32.9

7.4 32.2

6.8 29.3

6.7 29.0

7.6 34.2

8.6 37.2

9.8 38.8

11.4 42.8

12.6 44.6

13.3 45.9

14.04 15.58

14.32 15.80

14.44 15.80

14.37 15.58

14.26 15.34

14.24 15.19

14.31 15.14

14.54 15.23

14.80 15.40

14.97 15.43

6.58 20.73 17.57 9.74

6.64 21.29 17.69 10.29

6.45 21.42 17.75 10.86

6.09 21.26 17.67 11.31

5.76 21.00 17.56 11.62

5.57 20.81 17.50 12.03

5.53 20.65 17.52 12.47

5.67 20.64 17.60 13.18

5.92 20.77 17.70 13.78

5.90 20.76 17.80 14.45

2.47 12.68 0.03 14.04

2.47 13.44 0.06 14.32

2.50 14.22 0.09 14.44

2.48 14.85 0.12 14.37

2.47 15.29 0.14 14.26

2.62 15.80 0.17 14.24

2.81 16.35 0.25 14.31

2.92 17.28 0.70 14.54

3.04 18.03 1.33 14.80

3.23 18.89 1.57 14.97

5.53 17.08 17.47

5.58 17.72 17.58

5.44 18.13 17.64

5.16 18.31 17.57

4.90 18.36 17.46

4.77 18.48 17.40

4.77 18.65 17.42

4.90 19.07 17.51

5.12 19.47 17.62

5.13 19.85 17.73

6.68 10.97

6.73 11.72

6.86 12.46

7.09 13.01

7.52 13.26

8.13 13.59

8.98 13.88

9.78 14.56

10.50 15.10

11.20 15.77

CHAIN-TYPE QUANTITY INDEXES FOR NET STOCK OF FIXED ASSETS (Index numbers, 2000 = 100) Total .......................................................................................................... Private, total .......................................................................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, total .................................................................................. Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Private and government fixed assets, total ........................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, by level Federal .............................................................................................. State and local ..................................................................................

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948

383

Table 18-3. Fixed Assets: Current-Cost Values and Quantity Indexes, 1929–1948 —Continued Classification

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

CURRENT-COST NET STOCK OF FIXED ASSETS (Billions of dollars, year end) Total .......................................................................................................... Private, total .......................................................................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, total .................................................................................. Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Private and government fixed assets, total ........................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, by level Federal .............................................................................................. State and local ..................................................................................

283.9 222.4

308.9 241.3

353.2 268.6

403.7 286.7

451.3 302.0

484.7 314.8

526.2 337.8

616.8 416.5

709.5 495.0

753.6 539.0

30.3 75.3 116.7 61.6

32.7 80.5 128.1 67.6

38.1 90.7 139.9 84.5

38.6 97.5 150.6 117.0

38.9 99.6 163.5 149.3

39.1 101.0 174.7 169.9

44.5 109.0 184.3 188.4

53.6 135.8 227.1 200.3

65.2 162.4 267.4 214.4

79.1 171.9 288.0 214.6

3.6 57.7 0.3 283.9

4.0 63.1 0.5 308.9

7.7 75.8 1.0 353.2

20.9 94.4 1.7 403.7

45.4 101.3 2.6 451.3

65.5 101.6 2.8 484.7

75.8 109.6 3.0 526.2

70.7 125.7 4.0 616.8

62.0 146.8 5.6 709.5

52.2 157.4 5.0 753.6

33.9 133.0 117.0

36.7 143.5 128.7

45.8 166.5 140.9

59.5 191.9 152.3

84.3 201.0 166.0

104.6 202.6 177.6

120.3 218.6 187.3

124.2 261.5 231.1

127.2 309.2 273.0

131.3 329.3 293.0

14.0 47.6

15.7 51.9

24.4 60.2

49.7 67.4

80.8 68.5

103.0 66.9

118.9 69.5

122.4 77.9

121.1 93.3

113.0 101.6

15.25 15.57

15.58 15.81

16.23 16.12

17.29 16.07

18.48 15.94

19.46 15.89

19.87 15.98

19.78 16.53

19.90 17.23

20.21 18.02

5.96 20.79 18.04 15.21

6.19 20.90 18.33 15.91

6.52 21.07 18.66 17.81

6.42 20.96 18.71 22.77

6.28 20.71 18.65 28.75

6.33 20.57 18.59 33.63

6.71 20.60 18.52 35.31

7.29 21.13 19.02 32.67

8.18 21.57 19.72 30.41

9.04 22.13 20.58 28.75

3.43 19.85 2.04 15.25

3.63 20.69 3.42 15.58

6.71 22.10 6.20 16.23

19.63 24.78 9.26 17.29

44.68 25.85 13.16 18.48

68.64 26.16 14.10 19.46

76.94 26.31 14.32 19.87

63.16 26.09 15.89 19.78

50.31 26.11 16.38 19.90

39.61 26.37 16.68 20.21

5.21 20.30 17.97

5.42 20.73 18.26

6.17 21.45 18.61

8.02 22.57 18.71

11.42 22.92 18.74

14.71 22.98 18.69

16.15 23.06 18.64

14.83 23.26 19.15

13.89 23.52 19.85

13.21 23.96 20.71

11.83 16.58

12.80 17.17

18.70 17.50

37.17 17.53

60.75 17.37

80.43 17.19

87.48 17.04

77.16 17.05

67.76 17.25

60.14 17.59

CHAIN-TYPE QUANTITY INDEXES FOR NET STOCK OF FIXED ASSETS (Index numbers, 2000 = 100) Total .......................................................................................................... Private, total .......................................................................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, total .................................................................................. Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Private and government fixed assets, total ........................................... Nonresidential Equipment and software ............................................................... Structures ...................................................................................... Residential ........................................................................................ Government, by level Federal .............................................................................................. State and local ..................................................................................

384

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 18-4. Price and Production Indexes and Labor Force Data, 1929–1948 Classification

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

CONSUMER AND PRODUCER PRICE INDEXES Consumer prices, all items; 1982–1984 = 100: All urban consumers (CPI-U) ................................................................ Percent change ................................................................................. Urban wage earners and clerical workers (CPI-W) ...............................

17.1 0.0 17.2

16.7 -2.3 16.8

15.2 -9.0 15.3

13.7 -9.9 13.7

13.0 -5.1 13.0

13.4 3.1 13.5

13.7 2.2 13.8

13.9 1.5 13.9

14.4 3.6 14.4

14.1 -2.1 14.2

Producer prices, 1982 = 100: All commodities ..................................................................................... Farm products ................................................................................... Industrial commodities ......................................................................

16.4 26.4 15.6

14.9 22.4 14.5

12.6 16.4 12.8

11.2 12.2 11.9

11.4 13.0 12.1

12.9 16.5 13.3

13.8 19.8 13.3

13.9 20.4 13.5

14.9 21.8 14.5

13.5 17.3 13.9

8.5 ... ... ... 8.2

7.1 ... ... ... 6.8

5.8 ... ... ... 5.5

4.6 ... ... ... 4.3

5.4 ... ... ... 5.1

5.9 ... ... ... 5.6

6.8 ... ... ... 6.5

8.0 ... ... ... 7.8

8.8 ... ... ... 8.5

6.9 ... ... ... 6.5

Civilian noninstitutional population ............................................................ Civilian labor force ..................................................................................... Participation rate, percent ..................................................................... Employment, total ..................................................................................... Ratio, employment to population, percent ............................................. Agricultural ............................................................................................ Nonagricultural ......................................................................................

... 49 180 ... 47 630 ... 10 450 37 180

... 49 820 ... 45 480 ... 10 340 35 140

... 50 420 ... 42 400 ... 10 290 32 110

... 51 000 ... 38 940 ... 10 170 28 770

... 51 590 ... 38 760 ... 10 090 28 670

... 52 230 ... 40 890 ... 9 900 30 990

... 52 870 ... 42 260 ... 10 110 32 150

... 53 440 ... 44 410 ... 10 000 34 410

... 54 000 ... 46 300 ... 9 820 36 480

... 54 610 ... 44 220 ... 9 690 34 530

Unemployment .......................................................................................... Percent of civilian labor force ................................................................

1 550 3.2

4 340 8.7

8 020 15.9

12 060 23.6

12 830 24.9

11 340 21.7

10 610 20.1

9 030 16.9

7 700 14.3

10 390 19.0

Unemployment rate counting persons on work relief as employed, percent of civilian labor force 1 ..............................................................

3.2

8.7

15.3

22.5

20.6

16.0

14.2

9.9

9.1

12.5

Total .......................................................................................................... Private, total .......................................................................................... Goods-producing, total ...................................................................... Natural resources and mining ....................................................... Construction .................................................................................. Manufacturing, total ....................................................................... Durable goods ........................................................................... Nondurable goods, total ............................................................

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ...

Private service-providing, total .......................................................... Trade, transportation, and utilities, total ........................................ Wholesale trade ........................................................................ Retail trade ................................................................................ Information .................................................................................... Financial activities ......................................................................... Professional and business services .............................................. Education and health services ...................................................... Leisure and hospitality .................................................................. Other services ...............................................................................

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

... ... ... ... ... ... ... ... ... ...

Government, total .................................................................................. Federal, total ..................................................................................... Department of Defense, total ........................................................

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

... ... ...

Service-providing ..................................................................................

...

...

...

...

...

...

...

...

...

...

Manufacturing, production workers: Total (thousands) .................................................................................. Average weekly hours (number of hours per week) .............................. Index of aggregate weekly hours (2002 = 100) ..................................... Average hourly earnings (dollars) ......................................................... Average weekly earnings (dollars) ........................................................

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

... ... ... ... ...

INDEXES OF INDUSTRIAL PRODUCTION (2002 = 100) Total .......................................................................................................... Products ................................................................................................ Consumer goods ............................................................................... Materials ................................................................................................ Manufacturing (SIC) .................................................................................. EMPLOYMENT STATUS OF THE CIVILIAN NONINSTITUTIONAL POPULATION, 14 YEARS AND OVER (Thousands of persons, except as noted)

NONFARM PAYROLL EMPLOYMENT (NAICS) (Thousands of persons, except as noted)

1Michael

Darby, "Three-and-a-Half Million U.S. Employees Have Been Mislaid." Journal of Political Economy, February 1976, v. 84, no. 1 . . . = Not available.

385

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948 Table 18-4. Price and Production Indexes and Labor Force Data, 1929–1948 —Continued Classification

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

CONSUMER AND PRODUCER PRICE INDEXES Consumer prices, all items; 1982–1984 = 100: All urban consumers (CPI-U) ................................................................ Percent change ................................................................................. Urban wage earners and clerical workers (CPI-W) ...............................

13.9 -1.4 14.0

14.0 0.7 14.1

14.7 5.0 14.8

16.3 10.9 16.4

17.3 6.1 17.4

17.6 1.7 17.7

18.0 2.3 18.1

19.5 8.3 19.6

22.3 14.4 22.5

24.1 8.1 24.2

Producer prices, 1982 = 100: All commodities ..................................................................................... Farm products ................................................................................... Industrial commodities ......................................................................

13.3 16.5 13.9

13.5 17.1 14.1

15.1 20.8 15.1

17.0 26.7 16.2

17.8 30.9 16.5

17.9 31.2 16.7

18.2 32.4 17.0

20.8 37.5 18.6

25.6 45.1 22.7

27.7 48.5 24.6

8.5 8.5 11.6 8.3 7.8

9.8 9.6 12.3 10.0 9.2

12.4 12.1 14.8 12.5 11.7

14.2 13.8 13.7 14.5 13.7

17.3 17.1 13.9 17.1 17.0

18.6 18.7 14.6 18.0 18.4

16.0 15.8 15.0 15.8 15.4

13.8 13.8 18.0 13.4 12.8

15.5 15.4 19.1 15.2 14.3

16.1 16.1 19.7 15.8 14.8

Civilian noninstitutional population ............................................................ Civilian labor force ..................................................................................... Participation rate, percent ..................................................................... Employment, total ..................................................................................... Ratio, employment to population, percent ............................................. Agricultural ............................................................................................ Nonagricultural ......................................................................................

... 55 230 ... 45 750 ... 9 610 36 140

99 840 55 640 55.7 47 520 47.6 9 540 37 980

99 900 55 910 56.0 50 350 50.4 9 100 41 250

98 640 56 410 57.2 53 750 54.5 9 250 44 500

94 640 55 540 58.7 54 470 57.6 9 080 45 390

93 220 54 630 58.6 53 960 57.9 8 950 45 010

94 090 53 860 57.2 52 820 56.1 8 580 44 240

103 070 57 520 55.8 55 250 53.6 8 320 46 930

106 018 60 168 56.8 57 812 54.5 8 256 49 557

... ... ... ... ... ... ...

Unemployment .......................................................................................... Percent of civilian labor force ................................................................

9 480 17.2

8 120 14.6

5 560 9.9

2 660 4.7

1 070 1.9

670 1.2

1 040 1.9

2 270 3.9

2 356 3.9

... ...

Unemployment rate counting persons on work relief as employed, percent of civilian labor force 1 ..............................................................

11.3

9.5

6.0

3.1

1.8

...

...

...

...

...

Total .......................................................................................................... Private, total .......................................................................................... Goods-producing, total ...................................................................... Natural resources and mining ....................................................... Construction .................................................................................. Manufacturing, total ....................................................................... Durable goods ........................................................................... Nondurable goods, total ............................................................

30 645 26 606 11 511 856 1 205 9 450 4 654 4 796

32 407 28 156 12 378 927 1 352 10 099 5 261 4 839

36 600 31 874 14 940 967 1 852 12 121 6 778 5 343

40 213 34 621 17 275 1 010 2 234 14 030 8 502 5 528

42 574 36 353 18 738 958 1 627 16 153 10 583 5 570

42 006 35 819 17 981 926 1 152 15 903 10 372 5 531

40 510 34 428 16 308 864 1 190 14 255 8 732 5 523

41 759 36 054 16 122 885 1 724 13 513 7 535 5 978

43 945 38 379 17 314 976 2 051 14 287 8 079 6 208

44 954 39 213 17 579 1 014 2 241 14 324 8 028 6 296

Private service-providing, total .......................................................... Trade, transportation, and utilities, total ........................................ Wholesale trade ........................................................................ Retail trade ................................................................................ Information .................................................................................... Financial activities ......................................................................... Professional and business services .............................................. Education and health services ...................................................... Leisure and hospitality .................................................................. Other services ...............................................................................

15 094 6 739 1 507.6 3 157.5 1 141 1 386 1 976 1 405 1 896 553

15 778 7 043 1 570.9 3 324.4 1 196 1 424 2 073 1 470 1 995 578

16 934 7 550 1 678.7 3 551.7 1 342 1 466 2 265 1 566 2 130 616

17 347 7 607 1 635.0 3 521.5 1 470 1 455 2 410 1 632 2 133 641

17 615 7 628 1 565.8 3 479.2 1 605 1 431 2 518 1 660 2 122 652

17 839 7 805 1 585.0 3 515.5 1 635 1 414 2 523 1 667 2 142 654

18 121 8 048 1 671.9 3 623.5 1 581 1 435 2 495 1 698 2 200 664

19 932 8 945 1 962.4 4 118.3 1 594 1 619 2 666 1 885 2 485 737

21 064 9 452 2 115.7 4 392.7 1 658 1 674 2 828 2 015 2 650 788

21 634 9 716 2 229.7 4 523.6 1 669 1 742 2 893 2 077 2 726 812

Government, total .................................................................................. Federal, total ..................................................................................... Department of Defense, total ........................................................

4 040 950 132.5

4 251 1 045 181.6

4 726 1 406 374.9

5 592 2 322 920.4

6 222 3 047 1 361.2

6 187 3 071 1 352.3

6 082 2 945 1 233.8

5 705 2 365 745.8

5 567 1 985 498.6

5 742 1 954 511.4

Service-providing ..................................................................................

19 134

20 029

21 660

22 938

23 837

24 026

24 203

25 637

26 631

27 376

Manufacturing, production workers: Total (thousands) .................................................................................. Average weekly hours (number of hours per week) .............................. Index of aggregate weekly hours (2002 = 100) ..................................... Average hourly earnings (dollars) ......................................................... Average weekly earnings (dollars) ........................................................

8 163 37.7 70.5 0.49 18.47

8 737 38.2 76.4 0.53 20.25

10 641 40.7 99.2 0.61 24.83

12 447 43.2 123.1 0.74 31.97

14 407 45.1 148.8 0.86 38.79

14 031 45.4 145.6 0.91 41.31

12 445 43.6 124.3 0.90 39.24

11 781 40.4 108.9 0.95 38.38

12 453 40.5 115.7 1.10 44.55

12 383 40.1 114.0 1.20 48.12

INDEXES OF INDUSTRIAL PRODUCTION (2002 = 100) Total .......................................................................................................... Products ................................................................................................ Consumer goods ............................................................................... Materials ................................................................................................ Manufacturing (SIC) .................................................................................. EMPLOYMENT STATUS OF THE CIVILIAN NONINSTITUTIONAL POPULATION, 14 YEARS AND OVER (Thousands of persons, except as noted)

NONFARM PAYROLL EMPLOYMENT (NAICS) (Thousands of persons, except as noted)

1Michael

Darby, "Three-and-a-Half Million U.S. Employees Have Been Mislaid." Journal of Political Economy, February 1976, v. 84, no. 1 . . . = Not available.

386

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 18-5. Federal Budget, 1929–1948 (Fiscal years, billions of dollars, percents.) Classification

1929

1930

1931

1932

1933

1934

1935

1936

1937

1938

Receipts .................................................................................................... Outlays ...................................................................................................... National defense ................................................................................... Surplus or deficit (-) ...................................................................................

3.9 3.1 ... 0.7

4.1 3.3 ... 0.7

3.1 3.6 ... -0.5

1.9 4.7 ... -2.7

2.0 4.6 ... -2.6

3.0 6.5 ... -3.6

3.6 6.4 ... -2.8

3.9 8.2 ... -4.3

5.4 7.6 ... -2.2

6.8 6.8 ... -0.1

Fiscal year GDP ........................................................................................

...

97.4

83.8

67.6

57.6

61.2

69.6

78.5

87.8

89.0

As percent of GDP: Receipts ................................................................................................ Outlays .................................................................................................. National defense ............................................................................... Surplus or deficit (-) ...............................................................................

... ... ... ...

4.2 3.4 ... 0.8

3.7 4.3 ... -0.6

2.8 6.9 ... -4.0

3.5 8.0 ... -4.5

4.8 10.7 ... -5.9

5.2 9.2 ... -4.0

5.0 10.5 ... -5.5

6.1 8.6 ... -2.5

7.6 7.7 ... -0.1

Debt held by the public, end of year: Billions of dollars ................................................................................... Percent of GDP .....................................................................................

... ...

... ...

... ...

... ...

... ...

... ...

... ...

... ...

... ...

... ...

Classification

1939

1940

1941

1942

1943

1944

1945

1946

1947

1948

Receipts .................................................................................................... Outlays ...................................................................................................... National defense ................................................................................... Surplus or deficit (-) ...................................................................................

6.3 9.1 ... -2.8

6.6 9.5 1.7 -2.9

8.7 13.6 6.4 -4.9

14.6 35.1 25.7 -20.5

24.0 78.6 66.7 -54.6

43.8 91.3 79.1 -47.6

45.2 92.7 83.0 -47.6

39.3 55.2 42.7 -15.9

38.5 34.5 12.8 4.0

41.6 29.8 9.1 11.8

Fiscal year GDP ........................................................................................

89.1

96.8

114.1

144.3

180.3

209.2

221.4

222.7

233.2

256.0

As percent of GDP: Receipts ................................................................................................ Outlays .................................................................................................. National defense ............................................................................... Surplus or deficit (-) ...............................................................................

7.1 10.3 ... -3.2

6.8 9.8 1.7 -3.0

7.6 12.0 5.6 -4.3

10.1 24.3 17.8 -14.2

13.3 43.6 37.0 -30.3

20.9 43.6 37.8 -22.7

20.4 41.9 37.5 -21.5

17.6 24.8 19.2 -7.2

16.5 14.8 5.5 1.7

16.2 11.6 3.6 4.6

Debt held by the public, end of year: Billions of dollars ................................................................................... Percent of GDP .....................................................................................

... ...

42.8 44.2

48.2 42.3

67.8 47.0

127.8 70.9

184.8 88.3

235.2 106.2

241.9 108.6

224.3 96.2

216.3 84.5

. . . = Not available.

CHAPTER 18: SELECTED ANNUAL DATA, 1929–1948

NOTES AND DEFINITIONS General note on the chronology of the 1930s and 1940s See the notes and definitions to Table 1-8 for the business cycle peaks and troughs occurring in this period as determined by the National Bureau of Economic Research (NBER). The NBER chronology may seem surprising to readers looking for “The Great Depression” who are not familiar with the NBER approach to business cycles. As NBER sees it, a downtrend in economic activity began in August 1929 (before the stock market crash) and lasted until March 1933. This period has been called the “Great Contraction”; it was the longest period of economic decline since the 1870s, according to the NBER chronology, and is nearly three times as long as any recession that has occurred since then. For the rest of the 1930s—except a 13-month recession in 1937–1938—the economy is viewed by the NBER as being in an expansion phase. The NBER chronology does not use the term “depression.” In popular usage, on the other hand, the term “Great Depression” is often used for the entire 1929-1939 period, even though the economy was expanding for most of the period following March 1933. It is true that economic activity during that time, though increasing, remained below the levels of the 1920s and below the likely capacity of the economy, as suggested by Figures 18-1 and 18-2. It should also be noted that NBER construes the entire period from June 1938 through February 1945 as a business cycle expansion. The recovery from the 1937–1938 recession merges into a further, continued rise in activity that reflects the outbreak of war in Europe in September 1939 and a consequent preparedness effort in the United States. The United States entered the war when attacked by Japan in December 1941, and launched an all-out war production effort at that time. The February 1945 end of the “wartime” expansion as defined by NBER precedes the end of the war, as the European war ended in May 1945 and the Pacific war concluded in August 1945. A brief demobilization recession occurred from February to October 1945, followed by the first postwar expansion, which lasted from October 1945 to November 1948. TABLES 18-1 AND 18-2 NATIONAL INCOME AND PRODUCT ACCOUNTS (NIPAS) AND RELATED DATA, 1929–1948 For most of these data, the sources, definitions, and availability are the same as for the identically titled series in Part A. Specific references to the appropriate chapter’s notes and definitions are given below. Gross domestic product and its components in current and constant dollars, gross national product, national income

387

and its components, population and per capita data, and chain-type price indexes: Chapter 1. Personal income and its disposition and disposable personal income: Chapter 4. Saving and investment: Chapter 5. Employment, NIPA data: full-time and part-time employees: As seen in Table 18-4, BLS payroll employment data are not available for the years before 1939, and the civilian employment estimates do not include work-relief employees. In order to provide fuller information on employment, this table presents NIPA estimates for the total number of full-time and part-time employees. Like the BLS payroll data, these estimates are a count of jobs rather than of persons employed, and persons with two jobs will appear as two persons employed in these data. These estimates include the armed forces and employees of Depression-era work-relief programs in the total, and also show them as separate categories. The issue of counting work-relief jobs is discussed below and in the “Statistical Issues and Pitfalls” article at the beginning of this book. TABLE 18-3 FIXED ASSETS: CURRENT-COST VALUES AND QUANTITY INDEXES, 1929–1948 See the notes and definitions for Tables 5-5 and 5-6. TABLE 18-4 PRICE AND PRODUCTION INDEXES AND LABOR DATA, 1929–1948 Consumer and producer price indexes: Chapter 8. Indexes of industrial production: Chapter 2. Civilian noninstitutional population, labor force, employment, and unemployment are as defined in the notes and definitions to Chapter 10 with the following exceptions: • The data for 1929 through 1947 in Chapter 18 pertain to persons 14 years of age and over. The data in Chapter 10 from 1947 to date are for persons age 16 and over. The differences made by this change in definitions can be observed in the two different sets of data— one from this table, the other from Tables 10-1 through 10-5—for the overlap year, 1947. In that year, the unemployment rates are the same (3.9 percent) for both age definitions. However, the labor force participation rate and the employment/population ratio are higher when the 14- and 15-year-olds are excluded. • The monthly survey of households that currently provides labor force data was begun in 1942, and the Census of Population supplied data for 1940. Before that, data for the labor force, employment, and unemployment are retrospective estimates made by the Bureau of Labor Statistics (BLS).

388

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

• The 1940 Census and the BLS data for 1931 through 1942 did not treat government work relief employment as employment; persons engaged in such work were counted as unemployed. Michael Darby calculated an alternative unemployment rate in which such workers are counted as employed, and this rate is also shown in Table 18-4. It would appear that the Darby rate is more consistent with the NIPA total employment data. Furthermore, the NIPA data on GDP include, as output, the work done by relief workers, and the buildings they constructed are included in investment and the capital stock. See the “Statistical Issues and Pitfalls” article in the special notes section at the beginning of this book for a further discussion of this issue.

Department, Bureau of Economic Analysis, Long-Term Economic Growth, 1860–1970, June 1973, p. 163.

Bureau of Labor Statistics data for 1940 through 1947 are published on their Web site, . The data for 1929 through 1939 were published in Employment and Earnings, May 1972, and in U.S. Commerce

TABLE 18-5 FEDERAL BUDGET, 1929–1948

The Darby alternative unemployment rate is found in Michael Darby, “Three-and-a-Half Million U.S. Employees Have Been Mislaid,” Journal of Political Economy, February 1976, v. 84, no. 1. It is also displayed and discussed in Robert A. Margo, “Employment and Unemployment in the 1930s,” Journal of Economic Perspectives, v. 7, no. 2, Spring 1993. Nonfarm employment and its components, and number, hours, and earnings for manufacturing production workers: Chapter 10. Note that because age is not specified in the Current Employment Survey, these data include any workers under 16 years of age and always have done so.

See notes and definitions for Tables 6-16 and 6-17.

CHAPTER 19: HISTORICAL DATA FOR SELECTED QUARTERLY SERIES

Table 19-1. Gross Domestic Product (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.1.5, 1.4.5

Gross private domestic investment Year and quarter

Gross domestic product

Personal consumption expenditures

Exports and imports of goods and services

Government consumption expenditures and gross investment

Fixed investment Total

Nonresidential

Residential

Change in Net exports private inventories

Exports

Imports

Total

Federal

Addendum: Final sales of domestic State and product local

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

237.2 240.5 244.6 254.4

156.3 160.2 163.7 167.8

33.7 32.4 32.7 41.0

22.8 23.2 23.3 24.5

10.4 10.4 12.3 15.1

0.5 -1.2 -2.9 1.5

10.9 11.3 11.8 9.3

18.4 19.5 19.4 17.6

7.5 8.2 7.7 8.3

36.3 36.6 36.4 36.3

23.4 23.3 22.4 21.6

13.0 13.4 14.0 14.7

236.7 241.7 247.5 252.9

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

260.4 267.3 273.9 275.2

170.5 174.3 177.2 178.1

45.0 48.1 50.2 49.1

26.2 26.0 27.0 28.1

15.2 16.3 16.1 15.0

3.6 5.9 7.2 6.0

7.3 5.2 4.9 4.5

16.9 15.2 15.4 14.6

9.6 10.0 10.5 10.1

37.6 39.7 41.4 43.5

22.4 23.8 24.6 26.0

15.2 15.9 16.8 17.5

256.7 261.5 266.7 269.2

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

270.0 266.2 267.7 265.2

177.0 178.6 178.0 180.4

40.9 34.0 37.3 35.2

26.6 25.5 24.1 23.5

14.0 13.7 14.5 16.3

0.4 -5.1 -1.3 -4.7

6.5 6.3 5.2 3.0

16.1 15.6 14.1 12.1

9.6 9.4 8.9 9.1

45.6 47.3 47.2 46.6

27.6 28.6 27.7 26.9

18.0 18.7 19.5 19.7

269.6 271.4 269.0 269.9

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

275.2 284.6 302.0 313.4

183.1 187.0 200.7 198.1

44.4 49.9 56.1 65.9

24.2 26.6 29.6 30.6

18.1 20.4 22.3 21.3

2.0 2.8 4.2 14.0

2.2 1.6 -0.7 -0.2

11.7 11.9 12.3 13.5

9.5 10.2 13.0 13.7

45.6 46.1 45.9 49.5

25.5 25.7 24.9 27.9

20.0 20.4 21.0 21.6

273.2 281.7 297.8 299.3

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

329.0 336.7 343.6 348.0

209.4 205.1 207.8 211.8

62.1 64.8 59.4 54.4

30.9 31.8 32.5 32.2

20.8 18.2 17.2 17.5

10.4 14.8 9.7 4.7

0.2 1.9 3.7 4.2

15.0 17.1 18.1 18.2

14.9 15.2 14.3 14.0

57.4 64.7 72.6 77.6

35.2 41.8 49.2 53.9

22.1 22.9 23.4 23.7

318.6 321.9 333.8 343.3

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

351.3 352.2 358.5 371.4

213.1 217.3 219.8 227.9

55.2 49.9 53.9 57.1

32.4 32.9 29.8 32.5

18.0 18.5 18.5 19.4

4.7 -1.5 5.6 5.3

3.7 2.0 0.0 -1.0

18.7 16.6 15.2 15.3

15.0 14.6 15.3 16.3

79.2 83.1 84.9 87.4

55.4 58.5 60.5 62.4

23.8 24.6 24.4 25.0

346.5 353.7 353.0 366.1

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

378.4 382.0 381.1 375.9

231.5 233.3 234.0 233.5

57.9 58.1 57.4 52.3

34.3 34.8 35.9 35.4

19.7 19.8 19.2 18.9

3.9 3.6 2.3 -2.0

-0.7 -1.3 -0.6 -0.3

15.1 15.2 15.8 15.2

15.8 16.4 16.3 15.5

89.7 91.8 90.3 90.5

63.9 66.2 64.0 63.6

25.8 25.6 26.3 26.9

374.5 378.4 378.8 377.9

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

375.3 376.0 380.8 389.5

235.5 238.3 240.7 245.5

51.5 51.2 54.7 57.8

34.5 34.3 35.0 34.9

19.0 20.3 21.8 23.2

-2.0 -3.4 -2.1 -0.3

-0.4 0.3 0.6 1.1

14.4 16.4 15.9 16.6

14.8 16.2 15.3 15.5

88.6 86.2 84.8 85.0

60.8 57.7 55.4 55.2

27.8 28.5 29.5 29.8

377.3 379.4 382.9 389.8

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

402.6 410.9 419.5 426.0

251.8 256.9 261.1 265.1

64.2 68.1 70.0 73.9

35.4 37.9 40.4 42.5

25.0 25.6 25.2 24.2

3.8 4.6 4.3 7.2

1.1 -0.2 0.7 0.2

17.3 16.9 18.1 18.3

16.2 17.1 17.4 18.1

85.4 86.0 87.7 86.8

54.6 54.7 55.8 54.4

30.8 31.3 31.8 32.4

398.8 406.3 415.2 418.8

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

428.3 434.2 439.3 448.1

266.7 269.4 272.6 278.0

73.0 71.4 72.5 71.2

42.9 43.9 45.4 45.9

23.7 23.9 23.5 23.0

6.4 3.6 3.6 2.2

0.4 1.9 2.6 4.5

19.4 20.9 21.8 23.1

18.9 19.0 19.3 18.5

88.2 91.5 91.6 94.4

54.7 57.1 56.4 58.5

33.5 34.4 35.1 35.8

421.9 430.6 435.7 445.9

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

457.2 459.2 466.4 461.5

282.4 284.7 289.3 291.0

71.8 71.9 73.2 64.9

47.0 47.1 48.4 47.5

22.6 22.2 22.0 21.9

2.2 2.7 2.8 -4.5

4.8 4.1 4.0 3.4

24.9 24.4 23.8 23.0

20.1 20.3 19.8 19.6

98.2 98.4 99.9 102.3

61.1 60.5 61.2 62.7

37.1 38.0 38.7 39.6

455.1 456.5 463.6 466.1

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

454.0 458.1 471.7 485.0

290.5 293.4 298.5 302.3

60.5 58.7 65.5 73.2

43.6 42.0 41.4 43.1

20.9 21.0 22.5 24.9

-4.0 -4.2 1.5 5.2

1.1 0.5 0.9 -0.3

20.5 20.5 20.6 20.6

19.5 20.1 19.7 20.8

101.8 105.4 106.9 109.7

61.2 63.9 64.2 66.0

40.6 41.6 42.7 43.7

458.0 462.3 470.2 479.8

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

495.4 508.4 509.3 513.2

310.0 316.0 321.2 323.3

76.2 82.2 76.4 79.3

44.5 46.1 47.8 47.7

27.8 28.8 28.3 27.5

3.9 7.3 0.4 4.1

0.4 0.0 0.6 0.6

21.8 22.6 23.5 23.1

21.4 22.5 22.9 22.5

108.9 110.2 111.0 110.0

64.3 65.5 66.2 65.4

44.5 44.7 44.8 44.6

491.5 501.2 508.9 509.1

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

526.9 526.1 528.9 523.6

326.9 332.7 332.7 334.6

89.1 79.7 78.7 68.1

49.5 50.3 49.0 48.6

28.4 26.1 25.3 25.3

11.2 3.2 4.3 -5.8

2.7 4.2 4.2 5.8

26.0 27.6 27.0 27.5

23.3 23.5 22.9 21.7

108.3 109.5 113.4 115.1

62.4 62.4 65.3 66.3

45.8 47.2 48.1 48.8

515.7 522.9 524.6 529.4

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

527.9 539.0 549.4 562.5

335.1 340.1 343.0 350.3

70.3 75.8 82.4 84.2

47.5 48.4 48.8 50.4

25.3 25.5 26.9 27.8

-2.5 1.8 6.7 6.0

5.8 5.5 3.9 4.4

27.5 27.4 27.2 28.3

21.7 21.9 23.3 23.9

116.7 117.6 120.2 123.6

66.0 66.8 68.6 70.2

50.7 50.8 51.6 53.4

530.5 537.2 542.8 556.6

389

390

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-1. Gross Domestic Product—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.)

NIPA Tables 1.1.5, 1.4.5

Gross private domestic investment

Exports and imports of goods and services

Government consumption expenditures and gross investment

Gross domestic product

Personal consumption expenditures

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

576.0 583.2 590.0 593.3

355.6 361.2 365.1 371.3

89.4 87.9 89.3 86.0

51.6 53.2 53.9 53.5

28.4 29.2 29.2 29.1

9.4 5.4 6.2 3.4

4.0 5.8 3.8 2.8

28.3 30.7 29.0 28.4

24.3 24.9 25.1 25.6

127.2 128.3 131.8 133.2

73.4 73.9 76.6 77.1

53.8 54.4 55.2 56.1

566.6 577.8 583.8 589.9

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

602.4 611.2 623.9 633.5

374.9 379.0 386.0 390.7

90.5 92.2 95.0 97.4

53.4 55.1 56.8 58.7

30.2 32.2 32.5 33.7

6.9 4.8 5.7 5.1

3.9 6.5 3.9 5.4

29.1 32.4 30.6 32.2

25.2 25.9 26.7 26.8

133.2 133.4 139.0 139.9

75.5 74.9 78.8 78.4

57.6 58.5 60.2 61.5

595.6 606.3 618.2 628.4

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

649.6 658.8 670.5 675.6

400.3 408.3 417.2 419.8

100.7 100.6 102.5 104.6

60.1 61.9 64.1 65.7

35.4 34.2 33.7 33.8

5.1 4.5 4.7 5.0

7.3 7.1 6.4 6.9

34.2 34.8 34.8 36.2

27.0 27.7 28.4 29.3

141.3 142.9 144.4 144.3

78.6 78.4 78.9 77.8

62.7 64.5 65.5 66.5

644.5 654.4 665.8 670.6

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

695.7 708.1 725.2 747.5

430.5 437.4 446.6 460.6

115.7 115.8 119.7 121.8

70.3 73.1 76.1 79.7

33.9 34.2 34.3 34.5

11.5 8.6 9.3 7.6

4.6 7.5 4.9 5.5

33.1 39.1 36.9 39.5

28.5 31.7 32.0 33.9

144.9 147.4 154.0 159.6

77.1 77.5 81.6 85.5

67.8 69.9 72.5 74.1

684.1 699.6 715.9 739.9

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

770.8 779.9 793.4 807.1

471.0 476.1 485.3 491.1

131.7 130.7 130.2 132.7

83.0 85.2 86.4 87.0

34.8 33.2 31.9 29.2

13.9 12.3 11.9 16.5

4.4 5.2 2.2 3.6

39.4 41.5 40.4 42.4

35.0 36.2 38.2 38.8

163.6 167.9 175.7 179.8

87.6 90.0 95.8 96.8

76.0 77.9 79.9 83.0

756.9 767.6 781.5 790.6

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

817.9 822.5 837.1 852.8

495.4 504.5 511.8 519.3

129.3 123.7 128.5 132.9

85.6 85.7 85.8 88.4

28.3 31.6 33.4 36.0

15.4 6.3 9.3 8.4

4.6 4.5 2.9 2.2

44.0 43.5 42.4 43.9

39.4 39.0 39.5 41.7

188.7 189.7 194.0 198.4

103.2 102.9 105.6 107.4

85.4 86.8 88.3 90.9

802.5 816.1 827.9 844.4

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

879.9 904.2 919.4 936.3

537.3 551.2 567.4 576.3

137.2 143.4 139.7 144.4

91.9 91.2 93.2 97.4

36.9 38.2 38.9 40.9

8.4 14.1 7.7 6.0

1.1 1.9 1.3 1.1

45.5 47.4 49.5 49.2

44.4 45.4 48.2 48.2

204.3 207.7 211.1 214.6

110.3 110.7 111.8 112.7

94.0 97.0 99.2 102.0

871.5 890.2 911.7 930.3

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

961.0 976.3 996.5 1 004.6

588.5 599.9 610.2 622.2

155.7 155.7 160.3 154.1

101.0 103.0 106.9 107.6

43.2 43.4 43.2 40.7

11.5 9.2 10.2 5.8

0.2 1.2 1.0 3.3

44.0 53.9 53.3 56.5

43.8 52.7 52.4 53.1

216.6 219.5 224.9 225.0

112.2 112.1 115.4 113.7

104.4 107.4 109.5 111.3

949.5 967.0 986.3 998.9

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 017.3 1 033.2 1 050.7 1 052.9

633.3 643.3 655.3 662.0

150.7 153.9 156.1 148.9

108.1 109.4 110.6 107.9

40.7 39.4 40.4 45.0

1.8 5.1 5.1 -4.0

3.4 5.4 3.8 3.2

56.9 60.6 60.3 61.1

53.5 55.2 56.4 57.9

229.9 230.7 235.6 238.9

115.0 112.7 112.8 113.3

114.9 118.0 122.7 125.6

1 015.5 1 028.2 1 045.6 1 056.9

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 098.3 1 119.1 1 139.3 1 151.7

681.0 695.1 707.5 723.8

171.3 178.8 183.4 179.2

110.4 113.4 114.8 118.0

48.6 54.6 58.3 61.5

12.3 10.9 10.2 -0.3

4.4 -0.2 -0.1 -1.7

63.1 63.1 65.4 60.3

58.7 63.3 65.5 61.9

241.6 245.3 248.5 250.3

112.9 113.5 114.7 113.6

128.7 131.8 133.8 136.8

1 086.1 1 108.2 1 129.1 1 152.0

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 190.6 1 225.9 1 249.7 1 287.0

741.2 759.8 778.3 803.1

193.2 206.5 212.4 218.4

123.3 126.3 129.1 136.6

66.6 68.2 69.6 74.3

3.2 12.0 13.7 7.5

-3.5 -4.3 -2.6 -3.1

68.6 67.2 71.5 76.1

72.2 71.4 74.1 79.2

259.7 263.9 261.6 268.6

119.8 122.6 116.9 119.4

139.9 141.3 144.8 149.2

1 187.3 1 213.9 1 236.0 1 279.5

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 335.5 1 371.9 1 391.2 1 432.3

827.7 843.3 861.8 876.9

232.5 246.0 241.8 257.6

144.1 152.1 157.0 159.9

77.9 75.8 75.0 72.7

10.6 18.2 9.8 25.0

-1.4 2.5 6.4 9.0

84.0 91.9 97.6 107.6

85.4 89.5 91.1 98.7

276.7 280.1 281.2 288.8

123.4 123.3 120.4 122.9

153.3 156.8 160.8 165.9

1 325.0 1 353.7 1 381.4 1 407.3

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 447.0 1 485.3 1 514.2 1 553.4

895.1 923.7 952.5 962.4

244.1 252.3 245.4 255.8

162.6 167.4 172.5 175.4

69.0 67.5 67.4 60.0

12.5 17.4 5.6 20.4

6.4 -2.7 -7.0 0.0

116.7 126.7 126.6 136.6

110.3 129.4 133.6 136.6

301.4 312.1 323.2 335.1

128.6 131.1 136.1 142.5

172.8 180.9 187.1 192.6

1 434.5 1 467.9 1 508.6 1 532.9

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 570.0 1 605.6 1 663.1 1 714.6

988.6 1 017.4 1 051.3 1 080.2

218.7 216.8 237.8 247.6

171.0 170.8 174.6 178.6

57.7 59.9 64.6 68.7

-10.0 -14.0 -1.4 0.3

16.5 21.6 12.0 13.8

141.4 136.8 134.1 142.5

124.9 115.2 122.1 128.7

346.3 349.8 362.0 372.9

144.0 144.9 151.4 156.0

202.2 204.9 210.6 216.9

1 580.0 1 619.6 1 664.5 1 714.2

Year and quarter

Fixed investment Total

Nonresidential

Change in Net exports Residential private inventories

Exports

Imports

Total

Federal

State and local

Addendum: Final sales of domestic product

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES Table 19-1. Gross Domestic Product—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.) Gross private domestic investment

NIPA Tables 1.1.5, 1.4.5 Exports and imports of goods and services

Government consumption expenditures and gross investment

Gross domestic product

Personal consumption expenditures

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 772.6 1 804.9 1 838.3 1 885.3

1 114.0 1 133.7 1 163.1 1 196.9

274.8 291.6 296.5 304.9

183.9 188.5 195.1 201.9

76.2 80.7 80.6 92.5

14.7 22.4 20.8 10.5

4.7 -0.5 -4.1 -6.6

143.6 146.6 151.8 156.1

138.9 147.1 155.8 162.7

379.1 380.1 382.8 390.0

156.3 157.8 159.9 164.9

222.8 222.3 223.0 225.2

1 757.9 1 782.4 1 817.5 1 874.8

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 939.3 2 006.0 2 066.8 2 111.6

1 232.5 1 260.4 1 291.7 1 329.8

326.6 354.9 378.4 385.5

214.2 223.8 232.5 244.5

97.6 111.7 115.0 116.9

14.8 19.5 30.9 24.1

-21.1 -21.1 -20.6 -29.6

155.4 161.9 162.3 157.8

176.4 183.0 182.9 187.4

401.4 411.8 417.3 425.8

169.8 174.8 176.5 180.6

231.5 237.0 240.8 245.3

1 924.5 1 986.6 2 035.9 2 087.5

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 150.0 2 275.6 2 336.2 2 417.0

1 359.9 1 417.6 1 448.7 1 487.9

396.8 430.9 451.4 472.8

250.4 276.0 290.6 305.3

121.0 130.6 135.8 139.0

25.5 24.3 25.0 28.5

-38.7 -22.6 -23.8 -16.4

164.6 186.2 191.3 205.4

203.3 208.8 215.1 221.8

431.9 449.8 459.9 472.7

183.0 189.2 192.4 199.1

249.0 260.6 267.4 273.6

2 124.5 2 251.4 2 311.2 2 388.5

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 464.4 2 527.6 2 600.7 2 660.5

1 523.6 1 564.3 1 618.6 1 662.2

481.1 493.0 497.9 499.5

318.8 324.9 342.3 349.6

138.5 140.6 143.5 141.4

23.9 27.4 12.1 8.6

-18.2 -22.2 -23.0 -26.8

211.7 220.9 234.3 253.7

229.8 243.1 257.3 280.5

477.8 492.5 507.3 525.5

202.3 207.9 211.8 220.5

275.5 284.6 295.5 305.0

2 440.5 2 500.2 2 588.6 2 651.9

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 725.3 2 729.3 2 786.6 2 916.9

1 709.1 1 711.2 1 770.1 1 838.1

505.2 470.4 443.5 497.9

361.3 350.9 361.1 376.2

134.0 111.7 116.3 130.8

9.9 7.8 -33.9 -9.1

-35.8 -15.2 5.5 -6.7

268.5 277.4 284.7 292.5

304.3 292.6 279.2 299.2

546.8 562.8 567.6 587.5

231.7 243.0 243.6 256.8

315.1 319.8 324.0 330.8

2 715.4 2 721.5 2 820.5 2 926.0

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 052.7 3 085.9 3 178.7 3 196.4

1 893.7 1 925.5 1 965.1 1 979.9

563.1 551.4 592.8 582.2

393.1 410.8 428.4 447.8

131.3 128.9 120.4 109.6

38.8 11.7 44.0 24.8

-14.3 -13.5 -7.6 -14.8

305.5 308.4 302.3 304.7

319.7 322.0 309.9 319.4

610.1 622.5 628.4 649.0

266.5 278.7 281.4 294.2

343.6 343.8 347.0 354.8

3 014.0 3 074.2 3 134.8 3 171.6

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 186.8 3 242.7 3 276.2 3 314.4

2 018.0 2 044.4 2 092.4 2 154.2

526.4 530.8 528.7 483.0

443.1 432.0 419.5 411.3

104.8 102.9 103.5 111.5

-21.5 -4.2 5.8 -39.8

-16.3 -4.4 -29.7 -29.6

293.2 294.7 279.6 265.3

309.5 299.1 309.3 294.9

658.6 671.9 684.7 706.8

298.7 305.1 312.3 327.1

359.9 366.8 372.4 379.7

3 208.2 3 246.9 3 270.4 3 354.2

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 382.9 3 484.1 3 589.3 3 690.4

2 194.1 2 258.2 2 328.6 2 381.3

496.6 542.2 577.7 640.7

400.5 402.9 419.5 446.0

131.2 147.0 162.4 170.8

-35.1 -7.7 -4.2 23.9

-24.6 -45.4 -65.2 -71.4

270.7 272.5 278.2 286.6

295.3 318.0 343.4 358.0

716.7 729.1 748.2 739.8

332.9 342.1 354.2 342.5

383.8 387.0 394.0 397.3

3 417.9 3 491.8 3 593.5 3 666.5

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 809.6 3 908.6 3 978.2 4 036.3

2 427.6 2 486.3 2 524.9 2 574.3

709.7 735.1 753.5 744.3

460.1 484.4 500.7 513.3

176.6 181.4 181.4 183.0

73.0 69.3 71.3 48.0

-95.0 -104.3 -103.9 -107.8

293.0 302.2 305.7 308.6

388.0 406.5 409.6 416.4

767.4 791.5 803.6 825.5

359.3 374.0 375.3 388.8

408.0 417.4 428.4 436.7

3 736.6 3 839.3 3 906.8 3 988.3

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 119.5 4 178.4 4 261.3 4 321.8

2 645.7 2 690.1 2 758.7 2 786.7

720.0 735.3 727.2 762.2

520.5 528.5 522.2 533.6

183.3 185.1 188.8 195.5

16.2 21.6 16.3 33.1

-91.9 -115.4 -118.6 -134.9

305.4 303.1 295.6 304.0

397.3 418.6 414.2 438.9

845.7 868.5 894.0 907.8

398.1 407.7 420.8 424.7

447.6 460.8 473.2 483.1

4 103.3 4 156.8 4 245.0 4 288.7

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 385.6 4 425.7 4 493.9 4 546.1

2 830.3 2 862.0 2 933.5 2 973.2

763.8 753.0 732.5 736.7

527.2 517.5 513.5 521.2

206.3 219.8 226.1 228.3

30.3 15.7 -7.0 -12.7

-127.6 -130.0 -139.5 -133.8

312.2 314.4 320.4 335.2

439.8 444.4 459.8 469.0

919.2 940.7 967.4 970.0

421.5 434.8 452.1 446.2

497.7 505.9 515.3 523.9

4 355.3 4 410.0 4 500.9 4 558.8

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 613.8 4 690.0 4 767.8 4 886.3

3 008.0 3 075.3 3 141.6 3 176.0

765.0 767.6 769.5 837.8

506.8 518.2 534.2 537.2

230.1 232.9 234.2 237.5

28.0 16.5 1.0 63.1

-141.3 -147.6 -146.0 -145.9

336.8 355.1 371.7 392.0

478.1 502.7 517.7 537.9

982.1 994.6 1 002.7 1 018.4

451.9 459.1 461.0 468.2

530.2 535.5 541.7 550.2

4 585.8 4 673.5 4 766.8 4 823.2

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 951.9 5 062.8 5 146.6 5 253.7

3 256.8 3 316.4 3 384.0 3 457.2

797.6 820.4 825.7 842.6

546.2 562.3 567.5 579.1

234.4 238.4 240.0 244.4

17.0 19.7 18.2 19.1

-124.7 -107.4 -100.5 -109.0

418.5 439.1 452.9 465.8

543.2 546.6 553.3 574.8

1 022.2 1 033.5 1 037.4 1 062.9

460.9 459.7 456.8 471.8

561.3 573.8 580.5 591.1

4 934.9 5 043.2 5 128.5 5 234.7

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 367.1 5 454.1 5 531.9 5 584.3

3 511.3 3 573.9 3 630.9 3 677.8

884.1 878.2 870.3 867.3

591.3 601.9 621.9 615.8

244.6 240.2 238.4 234.8

48.2 36.0 10.0 16.6

-98.2 -91.6 -79.3 -83.5

484.0 505.7 508.4 515.2

582.3 597.3 587.7 598.7

1 070.0 1 093.6 1 109.9 1 122.7

470.1 482.2 489.7 486.9

599.9 611.5 620.2 635.8

5 318.9 5 418.1 5 521.9 5 567.7

Year and quarter

Fixed investment Total

Nonresidential

Change in Net exports Residential private inventories

Exports

Imports

Total

Federal

State and local

Addendum: Final sales of domestic product

391

392

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-1. Gross Domestic Product—Continued (Billions of dollars, quarterly data are at seasonally adjusted annual rates.) Gross private domestic investment

NIPA Tables 1.1.5, 1.4.5 Exports and imports of goods and services

Government consumption expenditures and gross investment

Gross domestic product

Personal consumption expenditures

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 716.4 5 797.7 5 849.4 5 848.8

3 762.6 3 815.9 3 879.6 3 901.7

880.0 882.5 866.8 814.6

626.9 617.9 626.1 618.9

239.2 230.9 218.8 207.0

13.9 33.7 21.9 -11.3

-83.6 -70.9 -78.5 -79.0

537.6 546.3 555.9 569.7

621.1 617.2 634.3 648.7

1 157.4 1 170.2 1 181.5 1 211.5

501.4 506.7 505.8 519.2

655.9 663.5 675.7 692.3

5 702.4 5 764.0 5 827.6 5 860.1

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 888.0 5 964.3 6 035.6 6 095.8

3 914.2 3 970.3 4 015.7 4 044.1

787.9 784.0 805.2 834.4

608.2 601.4 594.1 589.0

195.2 200.7 210.3 214.2

-15.6 -18.1 0.8 31.2

-41.5 -24.3 -22.7 -21.4

574.6 592.3 602.6 617.8

616.1 616.6 625.3 639.2

1 227.4 1 234.3 1 237.5 1 238.6

530.4 532.9 527.3 520.5

697.0 701.4 710.2 718.1

5 903.5 5 982.4 6 034.8 6 064.5

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 196.1 6 290.1 6 380.5 6 484.3

4 142.5 4 193.1 4 264.3 4 341.1

810.2 865.4 876.8 906.6

585.6 607.1 619.0 636.7

224.4 235.1 237.3 248.6

0.2 23.2 20.5 21.3

-14.2 -33.7 -39.6 -45.5

627.4 628.0 641.8 644.1

641.6 661.7 681.4 689.6

1 257.6 1 265.3 1 278.9 1 282.1

526.8 530.0 539.6 539.3

730.7 735.3 739.3 742.8

6 195.9 6 266.9 6 360.0 6 463.0

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 542.7 6 612.1 6 674.6 6 800.2

4 379.3 4 446.7 4 510.7 4 574.9

931.3 942.3 943.4 996.5

642.8 660.3 667.5 695.7

252.6 257.9 269.3 284.1

35.9 24.1 6.6 16.7

-50.0 -65.2 -70.9 -74.0

645.1 654.3 651.6 672.3

695.1 719.6 722.5 746.3

1 282.1 1 288.3 1 291.5 1 302.8

528.9 524.7 521.7 525.7

753.2 763.6 769.8 777.2

6 506.8 6 588.0 6 668.0 6 783.5

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 911.0 7 030.6 7 115.1 7 232.2

4 643.9 4 702.8 4 778.6 4 847.9

1 043.2 1 106.7 1 092.9 1 145.5

704.8 720.5 734.7 765.6

293.1 304.7 304.8 304.8

45.3 81.5 53.4 75.1

-77.6 -94.6 -99.7 -102.4

681.2 706.3 737.2 758.8

758.8 801.0 836.9 861.2

1 301.5 1 315.7 1 343.4 1 341.3

513.3 516.2 528.6 518.5

788.2 799.5 814.8 822.8

6 865.7 6 949.1 7 061.7 7 157.1

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 298.3 7 337.7 7 432.1 7 522.5

4 879.0 4 946.7 5 011.0 5 066.4

1 160.6 1 132.6 1 126.2 1 156.6

797.7 805.5 811.2 825.8

301.7 293.4 303.8 312.4

61.2 33.7 11.2 18.3

-102.7 -114.3 -78.2 -70.3

780.7 797.7 830.9 839.6

883.4 912.0 909.1 909.8

1 361.4 1 372.7 1 373.0 1 369.8

523.5 523.3 520.3 509.7

837.9 849.3 852.7 860.1

7 237.1 7 304.0 7 420.8 7 504.2

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 624.1 7 776.6 7 866.2 8 000.4

5 142.8 5 232.0 5 286.4 5 366.1

1 170.0 1 227.9 1 279.9 1 283.3

841.4 860.5 889.0 910.7

321.8 336.9 339.7 337.9

6.8 30.5 51.1 34.7

-84.2 -97.0 -116.7 -87.1

848.2 859.6 860.8 905.6

932.4 956.6 977.5 992.7

1 395.6 1 413.7 1 416.6 1 438.1

527.8 533.6 522.8 525.3

867.8 880.0 893.8 912.8

7 617.3 7 746.2 7 815.1 7 965.8

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 113.8 8 250.4 8 381.9 8 471.2

5 448.8 5 484.6 5 589.8 5 666.4

1 315.4 1 385.2 1 419.5 1 439.1

930.1 950.0 995.7 998.9

340.8 346.8 351.3 357.5

44.4 88.5 72.5 82.7

-103.0 -88.3 -99.6 -115.3

919.7 955.5 975.6 970.6

1 022.7 1 043.8 1 075.2 1 085.9

1 452.7 1 468.9 1 472.2 1 481.1

523.5 535.6 532.8 531.7

929.2 933.3 939.4 949.4

8 069.4 8 162.0 8 309.4 8 388.6

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 586.7 8 657.9 8 789.5 8 953.8

5 733.4 5 834.2 5 924.2 6 026.2

1 505.5 1 474.6 1 507.8 1 548.6

1 024.0 1 049.1 1 054.3 1 082.7

365.9 378.6 392.8 406.0

115.5 46.9 60.7 59.9

-129.2 -162.4 -174.2 -174.0

965.2 949.6 938.3 970.6

1 094.4 1 112.0 1 112.5 1 144.6

1 477.0 1 511.5 1 531.7 1 553.1

520.3 534.4 530.5 536.6

956.7 977.1 1 001.2 1 016.4

8 471.2 8 611.0 8 728.8 8 893.9

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 066.6 9 174.1 9 313.5 9 519.5

6 101.7 6 237.2 6 337.2 6 453.7

1 596.7 1 589.9 1 628.3 1 687.7

1 101.0 1 130.1 1 151.5 1 153.0

413.5 421.7 427.8 436.5

82.2 38.1 49.1 98.2

-207.5 -252.1 -285.2 -297.2

960.1 972.8 1 000.5 1 031.6

1 167.6 1 224.9 1 285.7 1 328.8

1 575.6 1 599.1 1 633.2 1 675.3

540.6 545.9 560.0 576.8

1 035.0 1 053.2 1 073.2 1 098.5

8 984.4 9 136.0 9 264.4 9 421.3

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 629.4 9 822.8 9 862.1 9 953.6

6 613.9 6 688.1 6 783.9 6 871.6

1 672.3 1 781.7 1 749.0 1 738.9

1 193.9 1 236.5 1 247.5 1 250.3

448.5 448.8 443.1 447.2

29.9 96.3 58.4 41.4

-346.4 -366.9 -400.7 -403.9

1 055.1 1 091.8 1 122.4 1 115.8

1 401.5 1 458.7 1 523.1 1 519.7

1 689.6 1 720.0 1 729.9 1 746.9

565.3 586.6 581.2 582.0

1 124.3 1 133.4 1 148.6 1 164.9

9 599.6 9 726.5 9 803.7 9 912.2

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 021.5 10 128.9 10 135.1 10 226.3

6 955.8 7 017.5 7 058.5 7 188.4

1 675.3 1 647.7 1 613.0 1 521.4

1 229.6 1 187.1 1 167.2 1 123.2

455.6 467.6 477.6 476.3

-9.9 -7.0 -31.8 -78.2

-392.9 -361.7 -361.9 -351.6

1 100.7 1 060.5 1 003.5 966.6

1 493.7 1 422.2 1 365.3 1 318.2

1 783.3 1 825.4 1 825.6 1 868.2

596.2 610.9 614.3 630.1

1 187.2 1 214.5 1 211.2 1 238.1

10 031.4 10 136.0 10 166.9 10 304.5

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 333.3 10 426.6 10 527.4 10 591.1

7 230.3 7 323.0 7 396.6 7 453.1

1 564.1 1 571.4 1 592.9 1 600.1

1 085.2 1 067.8 1 061.4 1 050.7

487.2 501.0 505.4 522.1

-8.3 2.6 26.0 27.3

-373.1 -416.1 -433.8 -474.6

976.4 1 008.2 1 022.9 1 016.2

1 349.5 1 424.3 1 456.7 1 490.8

1 912.0 1 948.3 1 971.8 2 012.5

654.9 675.2 682.0 706.6

1 257.2 1 273.1 1 289.8 1 305.9

10 341.6 10 424.0 10 501.4 10 563.9

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 717.0 10 844.6 11 087.4 11 236.0

7 555.2 7 635.3 7 782.4 7 866.6

1 610.0 1 619.3 1 694.2 1 757.9

1 048.2 1 066.8 1 098.8 1 116.0

540.0 552.9 584.9 612.2

21.8 -0.4 10.6 29.8

-502.6 -500.6 -495.3 -505.0

1 018.8 1 016.1 1 046.6 1 101.1

1 521.4 1 516.6 1 541.9 1 606.1

2 054.4 2 090.5 2 106.2 2 116.5

724.0 763.4 761.8 770.0

1 330.4 1 327.1 1 344.4 1 346.5

10 695.2 10 845.0 11 076.9 11 206.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

11 457.1 11 666.1 11 818.8 11 995.2

8 032.3 8 145.6 8 263.2 8 416.1

1 818.2 1 928.5 1 961.2 2 004.5

1 140.7 1 182.7 1 219.0 1 252.9

632.0 673.9 689.7 699.7

45.5 71.9 52.5 51.9

-559.6 -613.1 -638.0 -685.4

1 130.8 1 163.3 1 183.8 1 217.1

1 690.3 1 776.4 1 821.8 1 902.5

2 166.2 2 205.0 2 232.5 2 260.0

808.3 824.6 836.5 840.8

1 357.9 1 380.4 1 395.9 1 419.1

11 411.6 11 594.2 11 766.3 11 943.3

Year and quarter

Fixed investment Total

Nonresidential

Change in Net exports Residential private inventories

Exports

Imports

Total

Federal

State and local

Addendum: Final sales of domestic product

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES Table 19-2. Real Gross Domestic Product (Billions of chained [2000] dollars, quarterly data are at seasonally adjusted annual rates.) Gross private domestic investment Year and quarter

Gross domestic product

Personal consumption expenditures

NIPA Tables 1.1.6, 1.4.6

Exports and imports of goods and services

Government consumption expenditures and gross investment

Fixed investment Total

Nonresidential

Residential

Change in Net exports private inventories

Exports

Imports

Total

Federal

Addendum: Final sales of domestic State and product local

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 112.1 7 130.3 7 130.8 7 076.9

4 757.1 4 773.0 4 792.6 4 758.3

920.0 920.1 898.4 841.8

603.9 593.5 597.2 585.8

321.0 308.6 291.1 275.0

14.1 33.9 22.8 -9.3

-63.8 -63.6 -58.1 -33.2

543.6 550.5 555.1 560.7

607.3 614.1 613.2 593.8

1 524.2 1 526.8 1 526.7 1 542.2

659.9 660.7 654.9 660.7

861.9 863.6 869.4 878.9

7 110.6 7 103.8 7 118.3 7 101.3

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 040.8 7 086.5 7 120.7 7 154.1

4 738.1 4 779.4 4 800.1 4 795.9

807.3 803.5 823.5 854.7

570.7 565.3 559.9 556.9

258.6 264.7 275.7 281.7

-14.4 -18.1 -0.1 30.7

-18.3 -14.3 -16.0 -9.6

563.2 583.8 597.8 611.6

581.5 598.1 613.9 621.2

1 548.4 1 553.7 1 546.6 1 540.4

665.8 667.7 655.5 642.8

880.0 883.5 888.6 895.2

7 071.5 7 120.2 7 134.6 7 133.8

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 228.2 7 297.9 7 369.5 7 450.7

4 875.0 4 903.0 4 951.8 5 009.4

835.8 890.7 900.2 929.1

554.5 576.5 588.2 606.0

296.1 307.4 308.2 318.6

1.8 22.9 19.6 21.5

-4.7 -20.2 -15.9 -23.0

621.9 622.2 635.6 639.1

626.6 642.4 651.4 662.1

1 552.3 1 550.7 1 559.0 1 559.3

643.1 642.6 650.1 650.4

906.9 905.8 906.6 906.6

7 239.3 7 284.3 7 360.5 7 440.3

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 459.7 7 497.5 7 536.0 7 637.4

5 027.3 5 071.9 5 127.3 5 172.9

950.3 957.8 957.8 1 007.3

609.6 625.9 632.8 659.3

320.1 323.8 335.0 351.9

36.7 24.3 7.0 14.5

-37.4 -48.6 -59.4 -63.0

639.9 647.4 645.7 667.0

677.2 696.0 705.1 730.1

1 543.0 1 541.4 1 537.0 1 542.7

630.5 621.4 612.5 614.1

910.4 918.0 922.7 926.9

7 431.2 7 483.7 7 540.6 7 633.7

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 715.1 7 815.7 7 859.5 7 951.6

5 230.3 5 268.0 5 305.7 5 358.7

1 050.6 1 112.0 1 092.4 1 143.2

665.9 679.3 692.0 722.6

358.8 370.9 367.0 362.3

46.3 83.0 51.7 73.4

-73.8 -83.0 -79.0 -81.9

672.8 695.0 721.0 737.3

746.5 778.1 800.0 819.2

1 527.1 1 533.7 1 558.8 1 545.5

595.8 592.6 606.8 590.5

929.6 939.6 950.4 953.7

7 677.5 7 737.2 7 814.3 7 882.3

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 973.7 7 988.0 8 053.1 8 112.0

5 367.2 5 411.7 5 458.8 5 496.1

1 154.6 1 123.8 1 113.1 1 144.4

752.1 757.4 762.5 777.9

354.2 342.9 353.6 361.6

60.8 34.6 7.9 16.2

-86.0 -87.7 -57.1 -53.1

750.5 761.0 794.5 806.6

836.5 848.7 851.7 859.7

1 551.9 1 558.2 1 553.2 1 535.5

589.4 588.3 582.7 560.6

961.2 968.7 969.2 974.1

7 918.7 7 962.3 8 055.0 8 104.8

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 169.2 8 303.1 8 372.7 8 470.6

5 544.6 5 604.9 5 640.7 5 687.6

1 160.2 1 220.0 1 280.8 1 276.1

797.1 820.0 847.3 870.1

371.1 386.8 385.7 381.8

3.0 24.5 57.5 29.9

-68.2 -81.2 -104.3 -64.9

816.4 830.3 837.3 889.5

884.6 911.4 941.6 954.4

1 544.9 1 570.3 1 565.1 1 579.2

572.3 583.6 569.6 568.5

971.6 985.6 994.7 1 010.0

8 175.4 8 285.8 8 319.9 8 444.7

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 536.1 8 665.8 8 773.7 8 838.4

5 749.1 5 775.8 5 870.7 5 931.4

1 302.9 1 389.6 1 417.5 1 440.7

892.2 914.3 961.1 969.0

383.1 387.9 389.7 393.6

34.7 94.2 72.3 83.4

-89.0 -93.1 -108.8 -127.6

905.7 941.8 964.2 963.2

994.7 1 034.8 1 073.0 1 090.9

1 581.6 1 598.1 1 598.5 1 597.9

561.2 573.6 569.9 565.7

1 019.8 1 024.0 1 028.0 1 031.8

8 507.3 8 574.6 8 705.7 8 758.6

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 936.2 8 995.3 9 098.9 9 237.1

5 996.8 6 092.1 6 165.7 6 248.8

1 515.8 1 491.7 1 525.8 1 563.0

1 001.6 1 032.5 1 042.4 1 074.7

401.8 412.9 424.1 434.3

116.9 50.4 64.2 58.9

-163.7 -205.1 -223.9 -222.3

967.4 957.0 952.9 988.7

1 131.1 1 162.1 1 176.9 1 211.0

1 589.1 1 621.4 1 636.0 1 651.1

551.9 565.9 561.1 566.1

1 037.0 1 055.2 1 074.9 1 084.9

8 821.1 8 948.7 9 038.4 9 182.2

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 315.5 9 392.6 9 502.2 9 671.1

6 311.3 6 409.7 6 476.7 6 556.8

1 606.6 1 607.8 1 647.4 1 708.4

1 094.0 1 127.3 1 154.4 1 157.3

438.1 441.8 444.5 449.9

79.5 41.7 50.8 103.5

-262.1 -295.2 -313.9 -313.7

980.1 991.2 1 017.4 1 044.1

1 242.2 1 286.4 1 331.3 1 357.9

1 662.2 1 672.3 1 693.1 1 720.2

562.9 565.3 576.7 589.9

1 099.3 1 107.0 1 116.3 1 130.2

9 239.7 9 353.7 9 453.5 9 569.3

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 695.6 9 847.9 9 836.6 9 887.7

6 661.3 6 703.3 6 768.0 6 825.0

1 678.0 1 788.6 1 742.6 1 732.7

1 196.7 1 238.6 1 245.2 1 247.9

454.5 450.4 441.2 441.6

26.9 99.3 56.2 43.5

-350.6 -374.5 -395.6 -397.2

1 060.9 1 092.0 1 120.0 1 112.3

1 411.5 1 466.5 1 515.6 1 509.5

1 707.3 1 730.5 1 721.5 1 727.1

568.2 591.2 578.6 577.2

1 139.2 1 139.3 1 142.9 1 149.9

9 668.8 9 748.4 9 780.4 9 844.3

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 875.6 9 905.9 9 871.1 9 910.0

6 853.1 6 870.3 6 900.5 7 017.6

1 670.3 1 637.4 1 592.6 1 493.4

1 234.4 1 190.2 1 169.3 1 128.2

444.0 450.1 452.1 447.8

-7.8 -2.5 -29.9 -86.7

-398.2 -385.2 -398.4 -414.5

1 097.2 1 060.6 1 008.7 980.3

1 495.4 1 445.8 1 407.1 1 394.9

1 749.6 1 783.0 1 776.1 1 812.7

588.5 601.4 601.5 614.2

1 161.1 1 181.6 1 174.6 1 198.5

9 883.2 9 908.7 9 899.9 9 992.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 977.3 10 031.6 10 090.7 10 095.8

7 042.2 7 083.5 7 123.2 7 148.2

1 541.7 1 549.0 1 570.9 1 567.0

1 090.3 1 073.3 1 068.0 1 054.5

459.0 469.5 471.8 479.3

-10.2 2.6 28.0 29.5

-441.3 -458.9 -472.2 -513.0

992.8 1 018.0 1 025.2 1 017.2

1 434.0 1 476.9 1 497.4 1 530.2

1 832.0 1 853.4 1 863.9 1 885.8

623.2 641.7 646.5 662.3

1 208.9 1 211.8 1 217.5 1 223.6

9 986.8 10 028.4 10 063.5 10 067.3

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 138.6 10 230.4 10 410.9 10 502.6

7 192.2 7 256.8 7 360.7 7 416.4

1 565.3 1 575.8 1 640.6 1 687.9

1 051.6 1 072.9 1 101.8 1 113.7

484.8 496.0 521.2 535.7

24.0 -0.4 9.3 29.0

-510.7 -528.4 -516.2 -530.2

1 009.7 1 004.5 1 032.2 1 078.4

1 520.4 1 532.9 1 548.4 1 608.6

1 884.4 1 917.5 1 920.1 1 922.6

662.8 696.8 693.2 698.5

1 221.6 1 220.7 1 226.8 1 224.1

10 114.7 10 228.2 10 399.5 10 471.8

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10 612.5 10 704.1 10 808.9 10 897.1

7 501.4 7 536.6 7 617.5 7 698.8

1 729.1 1 813.0 1 833.4 1 863.9

1 135.1 1 171.6 1 204.8 1 235.1

542.4 565.1 568.8 571.0

41.9 65.6 50.4 50.1

-563.0 -601.7 -606.5 -634.1

1 091.8 1 110.2 1 125.0 1 144.5

1 654.8 1 711.9 1 731.5 1 778.6

1 938.4 1 949.5 1 958.4 1 962.8

716.5 722.2 728.6 727.6

1 221.8 1 227.1 1 229.6 1 235.0

10 568.9 10 637.4 10 757.1 10 846.0

393

394

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-3. Contributions to Percent Change in Real Gross Domestic Product (Percent; percentage points.)

NIPA Table 1.1.2 Percentage points at seasonally adjusted annual rates

Percent change at seasonally adjusted annual rate, GDP

Personal consumption expenditures

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

... -0.5 -0.2 6.0

... 4.55 1.07 -0.06

... -4.65 -1.65 11.09

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6.5 7.3 2.3 1.0

1.32 3.04 0.36 1.94

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-5.8 -1.2 4.6 -4.0

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

Year and quarter

Gross private domestic investment Fixed investment

Exports and imports of goods and services

Government consumption expenditures and gross investment

Residential

Change in private inventories

... -0.58 -0.73 1.32

... -0.84 2.78 4.20

... -3.24 -3.70 5.57

... -0.68 -0.19 -4.15

... -0.43 -1.75 -3.48

... -0.25 1.56 -0.67

... 0.36 0.66 -0.86

... 0.04 0.00 -1.24

... 0.31 0.66 0.39

6.71 4.21 0.96 -2.95

2.72 -1.40 0.14 1.08

-0.27 1.36 -0.74 -1.74

4.26 4.26 1.56 -2.30

-2.74 -2.94 -0.30 -0.58

-1.24 -2.35 0.48 -0.82

-1.50 -0.59 -0.78 0.24

1.25 2.97 1.31 2.54

1.28 2.24 0.83 1.95

-0.03 0.73 0.49 0.59

0.28 3.69 0.18 3.32

-10.72 -7.96 4.97 -2.95

-2.04 -1.54 -1.86 -0.60

-1.78 -0.34 1.75 2.67

-6.90 -6.08 5.08 -5.02

2.75 0.05 -1.33 -2.88

2.33 -0.17 -1.91 -2.70

0.41 0.22 0.59 -0.18

1.70 3.02 0.75 -1.50

0.74 1.54 -0.42 -2.05

0.96 1.48 1.17 0.56

17.4 12.5 16.6 7.5

4.16 4.18 14.05 -7.70

14.93 7.64 6.52 9.90

1.12 3.40 3.53 -0.06

3.10 2.76 1.66 -1.36

10.72 1.47 1.32 11.32

-0.55 -0.50 -2.80 1.26

-0.22 0.23 0.44 1.31

-0.33 -0.73 -3.25 -0.05

-1.08 1.18 -1.13 4.04

-1.86 0.91 -1.15 4.02

0.78 0.27 0.02 0.01

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.9 7.0 8.2 0.7

6.42 -6.92 2.95 1.39

-9.05 1.76 -5.78 -5.75

-1.04 0.54 0.45 -0.75

-1.46 -3.43 -1.38 0.18

-6.55 4.65 -4.85 -5.17

0.76 2.38 2.05 0.22

0.81 1.82 0.52 -0.15

-0.05 0.56 1.53 0.37

6.78 9.75 9.02 4.81

7.06 9.29 8.89 4.86

-0.28 0.46 0.13 -0.04

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.2 0.3 2.6 13.8

0.24 4.54 0.92 8.94

1.51 -5.15 3.08 4.38

0.21 0.44 -3.29 3.20

0.59 0.37 -0.21 1.17

0.71 -5.97 6.58 0.01

-0.63 -2.16 -2.31 -1.26

1.23 -2.18 -1.31 0.22

-1.85 0.02 -1.00 -1.48

3.11 3.06 0.93 1.75

3.02 2.46 1.67 1.07

0.10 0.60 -0.74 0.68

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.7 3.1 -2.4 -6.2

3.03 1.39 -0.74 -1.78

1.17 0.19 -1.29 -4.35

1.95 0.26 0.84 -0.42

0.34 0.06 -0.78 -0.16

-1.11 -0.13 -1.34 -3.77

0.25 -0.68 0.73 0.25

-0.18 0.17 0.71 -0.55

0.42 -0.85 0.03 0.80

3.28 2.18 -1.10 -0.26

2.67 2.23 -1.84 -0.93

0.61 -0.04 0.74 0.67

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-2.0 0.4 4.5 8.2

0.66 2.99 3.25 5.35

-0.30 -0.08 3.00 2.83

-1.09 -0.37 1.04 -0.09

0.21 1.31 1.36 1.49

0.58 -1.03 0.60 1.43

0.14 0.70 0.38 0.54

-0.76 2.16 -0.61 0.73

0.90 -1.46 0.99 -0.20

-2.45 -3.25 -2.13 -0.54

-3.50 -3.37 -2.99 -0.68

1.05 0.12 0.86 0.15

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

12.0 6.7 5.4 2.2

5.84 4.79 3.17 3.07

6.68 4.11 0.93 1.40

0.69 2.32 1.93 1.06

1.86 0.35 -0.55 -1.05

4.13 1.44 -0.45 1.39

-0.38 -1.35 0.78 -0.57

0.58 -0.43 1.08 0.04

-0.96 -0.91 -0.31 -0.61

-0.12 -0.83 0.56 -1.74

-1.41 -1.24 0.61 -1.92

1.28 0.41 -0.05 0.19

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-1.9 3.2 -0.5 6.7

0.31 0.75 0.47 3.43

-2.16 -0.76 -0.70 -0.69

-0.69 0.63 0.33 -0.09

-0.57 -0.15 -0.44 -0.33

-0.90 -1.24 -0.59 -0.27

0.05 1.34 0.48 1.73

0.79 1.28 0.66 0.93

-0.74 0.06 -0.18 0.80

-0.03 1.87 -0.73 2.22

-0.37 1.46 -0.90 1.88

0.33 0.41 0.16 0.34

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.4 -1.0 4.0 -4.2

1.59 0.33 2.06 0.07

-0.89 -0.09 1.46 -5.24

0.30 -0.10 0.91 -1.03

-0.30 -0.48 -0.25 -0.03

-0.90 0.49 0.80 -4.19

-0.01 -0.73 -0.26 -0.64

1.35 -0.57 -0.57 -0.57

-1.36 -0.16 0.32 -0.07

1.77 -0.51 0.72 1.65

0.94 -0.80 0.22 0.80

0.83 0.29 0.49 0.85

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-10.4 2.4 9.6 9.5

-3.29 2.01 4.14 3.13

-4.21 -1.33 4.58 5.44

-2.72 -1.61 -0.54 1.35

-0.69 0.05 1.36 2.10

-0.80 0.23 3.76 1.99

-2.05 -0.64 0.29 -0.97

-1.81 0.11 0.10 -0.01

-0.24 -0.75 0.20 -0.96

-0.87 2.34 0.55 1.94

-1.84 1.80 -0.26 1.24

0.98 0.53 0.82 0.69

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.9 10.9 -0.3 1.4

3.94 4.26 2.72 0.33

3.89 5.69 -4.42 2.07

1.11 1.14 1.14 -0.15

2.37 0.83 -0.43 -0.63

0.41 3.73 -5.13 2.86

0.76 -0.31 0.37 -0.04

1.18 0.63 0.59 -0.49

-0.42 -0.94 -0.23 0.45

-0.72 1.32 1.03 -0.95

-1.02 1.21 0.99 -0.77

0.30 0.11 0.04 -0.18

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9.2 -2.0 0.6 -5.1

2.47 3.13 -0.99 0.31

6.70 -6.92 -0.46 -7.21

1.49 0.58 -0.94 -0.18

0.65 -1.76 -0.60 -0.03

4.57 -5.74 1.08 -7.00

1.70 1.15 0.01 1.26

2.30 1.26 -0.54 0.43

-0.60 -0.10 0.54 0.83

-1.63 0.66 2.07 0.58

-2.24 -0.20 1.52 0.16

0.62 0.85 0.55 0.42

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.4 7.7 6.6 8.4

-0.03 3.89 1.25 5.15

1.40 4.14 4.84 1.11

-0.76 0.77 0.30 1.20

0.07 0.07 1.03 0.66

2.08 3.30 3.51 -0.75

-0.07 -0.48 -1.17 0.21

-0.14 -0.28 -0.11 0.62

0.07 -0.20 -1.06 -0.40

1.12 0.19 1.74 1.95

-0.08 0.45 1.41 0.88

1.20 -0.26 0.32 1.07

. . . = Not available.

Total

Nonresidential

Net exports

Exports

Imports

Total

Federal

State and local

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

395

Table 19-3. Contributions to Percent Change in Real Gross Domestic Product—Continued (Percent; percentage points.)

NIPA Table 1.1.2 Percentage points at seasonally adjusted annual rates

Percent change at seasonally adjusted annual rate, GDP

Personal consumption expenditures

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.4 4.4 3.7 1.0

2.69 3.02 2.03 3.53

3.66 -0.56 1.10 -2.05

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5.3 5.1 7.7 3.1

1.74 2.43 3.45 2.10

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9.3 4.7 5.6 1.1

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

Year and quarter

Gross private domestic investment Fixed investment

Exports and imports of goods and services

Government consumption expenditures and gross investment

Residential

Change in private inventories

0.82 1.05 0.46 -0.26

0.36 0.62 -0.02 -0.03

2.48 -2.23 0.65 -1.77

-0.56 1.51 -1.38 -0.63

-0.05 1.88 -1.17 -0.42

-0.51 -0.37 -0.21 -0.21

1.59 0.47 1.99 0.13

1.86 0.20 1.52 -0.28

-0.27 0.27 0.48 0.41

3.30 0.88 2.02 0.80

-0.06 1.13 1.11 1.19

0.73 1.44 0.39 0.63

2.63 -1.70 0.52 -1.02

0.88 1.90 -1.53 1.05

0.46 2.29 -1.11 0.99

0.41 -0.38 -0.42 0.06

-0.53 -0.12 3.80 -0.81

-1.25 -0.46 2.76 -1.35

0.72 0.35 1.04 0.54

5.00 4.42 4.66 0.71

2.64 -0.25 1.46 0.44

0.93 0.95 1.29 0.81

1.32 -1.10 -0.33 -0.36

0.38 -0.09 0.50 0.00

1.30 -0.02 -0.60 0.17

1.27 0.35 -0.16 0.62

0.02 -0.37 -0.44 -0.45

0.33 0.58 0.06 -0.24

-0.25 -0.31 -0.36 -0.66

0.58 0.89 0.43 0.42

10.2 5.5 8.4 10.0

5.68 2.83 4.36 7.18

6.36 -0.09 2.34 0.32

2.72 1.52 1.59 1.77

0.07 0.15 0.08 -0.41

3.56 -1.77 0.67 -1.04

-1.65 1.68 -1.31 0.62

-2.29 3.59 -1.23 1.48

0.64 -1.91 -0.07 -0.86

-0.18 1.10 2.96 1.91

-0.56 0.08 1.82 1.31

0.38 1.02 1.14 0.60

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10.1 1.4 2.7 3.3

3.74 0.67 2.80 1.02

5.68 -1.22 -0.65 0.32

1.88 0.65 0.51 -0.12

0.42 -1.47 -0.55 -1.70

3.38 -0.40 -0.61 2.14

-0.82 0.45 -1.82 0.48

-0.36 0.89 -0.80 0.68

-0.46 -0.45 -1.02 -0.20

1.55 1.49 2.33 1.44

1.05 1.19 1.86 0.38

0.50 0.31 0.46 1.06

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.6 0.0 3.2 3.1

1.44 3.25 1.27 1.49

-1.83 -2.69 1.73 1.32

-0.91 -0.15 -0.21 0.84

-0.43 1.58 0.77 0.94

-0.49 -4.11 1.17 -0.46

0.16 -0.03 -0.74 -0.41

0.41 -0.20 -0.51 0.58

-0.25 0.17 -0.24 -0.99

3.82 -0.51 0.97 0.65

3.30 -0.74 0.80 -0.09

0.52 0.23 0.17 0.74

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8.5 7.0 2.7 1.7

5.97 3.85 4.59 1.09

1.38 2.57 -2.06 0.63

1.34 -0.73 0.52 1.18

0.11 0.43 0.30 0.21

-0.06 2.87 -2.89 -0.77

-0.54 0.10 0.01 -0.10

0.60 0.42 1.22 -0.27

-1.15 -0.31 -1.21 0.17

1.70 0.45 0.22 0.07

0.93 -0.39 -0.40 -0.30

0.77 0.84 0.62 0.37

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6.5 1.1 2.5 -1.9

2.80 1.54 1.13 1.92

4.16 -0.49 1.51 -3.44

1.23 0.45 1.14 -0.25

0.65 -0.19 -0.14 -1.27

2.28 -0.75 0.52 -1.92

-0.58 0.50 -0.25 0.98

-2.53 4.08 -0.53 0.74

1.94 -3.58 0.28 0.24

0.10 -0.39 0.12 -1.34

-0.26 -0.75 0.03 -1.25

0.36 0.36 0.09 -0.09

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-0.7 0.8 3.6 -4.2

1.46 1.17 2.23 -0.66

-1.90 0.20 1.00 -3.42

-0.23 -0.23 0.20 -1.61

0.03 -1.08 0.81 1.61

-1.70 1.51 -0.01 -3.43

0.26 0.57 -0.03 -0.12

0.19 0.98 -0.08 0.21

0.08 -0.41 0.05 -0.33

-0.50 -1.18 0.40 0.00

-0.91 -1.43 -0.64 -0.24

0.41 0.25 1.04 0.24

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

11.6 2.3 3.2 1.1

5.09 2.34 2.03 4.14

7.60 1.86 0.83 -1.98

0.32 0.57 0.18 0.92

0.96 1.80 0.97 0.79

6.33 -0.51 -0.32 -3.69

0.36 -1.63 0.43 -0.35

0.09 -0.05 0.92 -1.93

0.26 -1.59 -0.49 1.57

-1.42 -0.28 -0.08 -0.67

-1.64 -0.60 -0.19 -1.27

0.22 0.32 0.12 0.60

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.3 9.8 3.9 6.7

3.34 4.83 3.77 5.83

4.54 4.22 1.05 0.45

1.49 0.78 0.68 2.17

1.44 0.45 0.05 0.80

1.62 2.99 0.32 -2.53

-0.89 0.21 0.82 -0.11

2.23 -0.68 1.30 0.95

-3.12 0.89 -0.48 -1.07

0.31 0.55 -1.78 0.55

0.15 0.65 -2.16 -0.11

0.16 -0.10 0.38 0.66

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10.6 4.7 -2.1 3.9

4.61 -0.14 0.87 -0.72

4.47 3.36 -2.72 2.84

2.02 1.75 0.73 0.34

0.80 -1.19 -0.95 -1.03

1.65 2.80 -2.50 3.53

0.59 1.96 0.78 1.17

1.73 1.20 0.06 1.39

-1.14 0.75 0.71 -0.22

0.88 -0.47 -1.04 0.59

0.67 -0.55 -1.52 0.02

0.22 0.08 0.48 0.57

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-3.4 1.2 -3.8 -1.6

-2.09 1.07 1.15 -3.45

-4.40 -0.34 -3.85 0.33

-0.07 -0.11 -0.51 -1.27

-1.48 -0.82 -0.58 -2.33

-2.84 0.59 -2.76 3.93

1.38 -0.15 -1.24 1.26

0.37 1.56 -1.85 0.90

1.01 -1.71 0.61 0.36

1.69 0.58 0.12 0.31

1.07 -0.07 0.18 0.29

0.62 0.65 -0.06 0.03

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-4.7 3.0 6.9 5.4

2.15 4.21 3.69 2.68

-11.74 -2.11 4.53 1.64

-2.70 -1.13 0.39 0.37

-0.93 0.32 1.06 0.69

-8.11 -1.30 3.08 0.58

3.84 1.52 -2.86 0.26

0.23 -1.05 -0.57 1.81

3.61 2.56 -2.29 -1.56

1.08 -0.65 1.59 0.77

-0.40 -0.28 0.94 0.11

1.48 -0.37 0.65 0.67

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9.3 3.0 1.9 2.9

5.03 2.23 2.63 3.39

6.17 2.76 0.12 0.34

0.73 0.47 0.89 0.83

1.63 0.50 -0.29 2.24

3.80 1.79 -0.47 -2.73

-2.12 -1.04 -0.39 -0.77

-0.23 0.33 0.94 0.34

-1.89 -1.37 -1.33 -1.11

0.24 -0.93 -0.43 -0.06

-0.33 -0.06 -0.09 0.10

0.56 -0.86 -0.34 -0.15

Total

Nonresidential

Net exports

Exports

Imports

Total

Federal

State and local

396

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-3. Contributions to Percent Change in Real Gross Domestic Product—Continued (Percent; percentage points.)

NIPA Table 1.1.2 Percentage points at seasonally adjusted annual rates

Percent change at seasonally adjusted annual rate, GDP

Personal consumption expenditures

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.9 8.1 7.4 0.0

3.14 1.43 2.46 3.69

3.07 5.23 3.98 -1.94

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.3 16.7 4.0 5.4

1.35 5.68 1.06 2.01

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

0.8 0.4 2.9 1.2

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

Year and quarter

Gross private domestic investment Fixed investment

Exports and imports of goods and services

Government consumption expenditures and gross investment

Residential

Change in private inventories

1.74 1.33 0.99 1.56

0.62 2.40 -0.07 -0.30

0.71 1.50 3.06 -3.20

-2.08 0.55 0.77 -1.53

-0.51 0.87 0.25 -1.03

-1.57 -0.33 0.53 -0.50

0.78 0.89 0.15 -0.27

0.31 0.60 0.20 -0.34

0.47 0.29 -0.05 0.07

1.63 5.56 2.45 1.85

0.51 4.18 1.71 1.62

0.10 1.14 0.31 -0.08

1.02 0.23 0.43 0.31

-1.83 3.23 -0.12 0.80

0.67 3.34 0.35 1.31

-2.50 -0.11 -0.48 -0.50

0.12 2.27 0.61 0.71

0.11 0.85 0.11 0.29

0.01 1.42 0.50 0.43

1.34 -0.12 2.42 0.68

-0.03 -0.18 -1.50 -1.40

1.04 -0.21 1.56 0.10

-0.54 -0.43 -0.27 -0.86

-0.53 0.46 -2.79 -0.64

0.14 -0.10 1.87 1.39

0.03 0.09 1.24 2.22

0.10 -0.19 0.63 -0.84

-0.67 0.78 0.12 0.51

0.04 0.39 -0.05 0.01

-0.71 0.40 0.16 0.50

1.3 -7.8 -0.7 7.6

-0.45 -5.56 2.72 3.44

-0.49 -6.62 -5.29 6.58

0.55 -2.68 0.38 1.11

-1.65 -3.61 0.28 1.66

0.61 -0.33 -5.95 3.82

1.02 4.09 3.04 -2.30

0.97 0.75 -0.07 -0.20

0.05 3.35 3.10 -2.10

1.19 0.26 -1.14 -0.08

1.00 0.87 -0.47 0.12

0.19 -0.61 -0.67 -0.20

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8.4 -3.1 4.9 -4.9

1.15 0.07 1.01 -1.83

7.08 -3.50 4.46 -2.89

0.86 1.06 1.32 1.33

-0.31 -0.58 -1.28 -1.55

6.53 -3.99 4.43 -2.67

-0.92 0.18 -0.36 -0.92

0.83 0.26 -0.82 0.17

-1.75 -0.08 0.46 -1.09

1.09 0.18 -0.17 0.76

0.74 1.04 -0.03 0.40

0.36 -0.86 -0.14 0.36

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-6.4 2.2 -1.5 0.4

1.64 0.88 1.93 4.60

-7.46 -0.05 -0.68 -5.61

-1.28 -1.98 -1.82 -1.07

-0.78 -0.42 -0.04 0.92

-5.40 2.35 1.18 -5.46

-0.52 0.83 -3.32 -0.08

-1.67 0.20 -1.62 -1.56

1.15 0.63 -1.70 1.48

-0.06 0.50 0.57 1.44

0.08 0.36 0.57 1.13

-0.13 0.14 0.00 0.31

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5.0 9.3 8.1 8.4

2.48 5.25 4.71 4.22

2.20 5.88 4.26 6.83

-1.00 0.52 2.05 3.03

2.26 1.86 1.70 0.79

0.94 3.50 0.51 3.01

-0.29 -2.53 -2.31 -1.21

0.51 0.10 0.47 0.63

-0.80 -2.63 -2.79 -1.84

0.63 0.73 1.47 -1.39

0.47 0.85 1.11 -1.36

0.16 -0.11 0.36 -0.03

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8.1 7.1 3.9 3.3

2.34 3.83 2.06 3.42

7.29 2.34 1.65 -1.28

1.59 2.44 1.67 1.22

0.54 0.35 -0.17 0.02

5.17 -0.45 0.15 -2.52

-2.35 -0.91 -0.38 -0.58

0.66 0.77 0.67 0.61

-3.01 -1.68 -1.05 -1.19

0.82 1.80 0.61 1.77

0.31 1.22 -0.15 1.28

0.51 0.58 0.76 0.49

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.8 3.5 6.4 3.1

4.30 2.35 4.95 0.57

-2.40 1.24 -0.72 2.71

0.61 0.73 -0.76 0.84

-0.06 0.14 0.23 0.42

-2.95 0.36 -0.18 1.45

0.90 -2.00 -0.02 -0.68

0.01 -0.12 -0.44 0.81

0.89 -1.87 0.42 -1.49

0.95 1.86 2.19 0.50

0.42 0.96 1.33 -0.01

0.52 0.90 0.86 0.51

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.9 1.6 3.9 2.0

2.10 2.69 4.48 1.65

-0.06 -1.50 -2.08 0.12

-0.68 -1.22 -0.70 0.44

0.78 1.05 0.31 -0.04

-0.16 -1.33 -1.68 -0.28

0.95 -1.37 -0.47 0.72

0.85 0.28 0.63 1.06

0.10 -1.65 -1.10 -0.33

0.89 1.77 1.95 -0.46

-0.21 1.22 1.51 -0.59

1.10 0.55 0.44 0.13

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.7 4.5 3.7 7.2

0.10 3.64 3.00 0.66

2.09 0.09 0.06 5.17

-1.26 1.03 1.40 -0.11

-0.06 0.09 -0.06 0.10

3.41 -1.02 -1.29 5.18

0.23 0.11 0.45 0.15

0.02 1.19 1.31 1.16

0.21 -1.08 -0.86 -1.02

0.25 0.63 0.17 1.21

0.27 0.60 0.08 0.62

-0.02 0.03 0.09 0.58

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.0 5.2 2.1 5.4

4.33 1.92 2.20 3.15

-3.88 1.57 0.40 0.85

0.34 1.11 0.23 0.47

-0.42 0.15 0.01 0.17

-3.80 0.31 0.15 0.21

1.98 1.48 -0.35 -0.22

1.78 0.96 0.64 1.07

0.20 0.52 -1.00 -1.29

-0.46 0.21 -0.09 1.61

-1.01 -0.35 -0.25 1.10

0.55 0.56 0.16 0.51

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.1 2.6 2.9 1.0

0.99 1.25 2.51 1.20

2.48 -0.78 -0.76 -0.66

0.75 0.62 1.26 -0.67

-0.12 -0.54 -0.19 -0.36

1.85 -0.86 -1.84 0.37

1.15 0.92 0.38 0.05

1.02 1.57 0.43 0.60

0.12 -0.64 -0.05 -0.55

-0.49 1.25 0.76 0.43

-0.72 0.80 0.35 -0.17

0.23 0.45 0.41 0.60

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.7 1.0 0.0 -3.0

2.19 0.85 1.06 -1.92

0.60 0.03 -1.42 -3.70

0.58 -0.77 0.25 -0.84

0.17 -0.64 -0.92 -0.83

-0.16 1.43 -0.76 -2.03

0.64 0.02 0.39 1.81

1.57 0.48 0.31 0.39

-0.93 -0.47 0.08 1.42

1.28 0.14 0.00 0.82

0.54 0.05 -0.30 0.31

0.74 0.09 0.30 0.51

Total

Nonresidential

Net exports

Exports

Imports

Total

Federal

State and local

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

397

Table 19-3. Contributions to Percent Change in Real Gross Domestic Product—Continued (Percent; percentage points.)

NIPA Table 1.1.2 Percentage points at seasonally adjusted annual rates

Percent change at seasonally adjusted annual rate, GDP

Personal consumption expenditures

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-2.0 2.6 1.9 1.9

-1.18 2.29 1.14 -0.24

-2.25 -0.22 1.31 2.02

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.2 3.9 4.0 4.5

4.50 1.56 2.70 3.14

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

0.5 2.0 2.1 5.5

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

Year and quarter

Gross private domestic investment Fixed investment

Exports and imports of goods and services

Government consumption expenditures and gross investment

Residential

Change in private inventories

-1.14 -0.41 -0.40 -0.23

-0.87 0.31 0.56 0.30

-0.24 -0.12 1.15 1.94

1.08 0.26 -0.12 0.43

0.18 1.43 0.95 0.92

0.90 -1.16 -1.07 -0.49

0.33 0.29 -0.38 -0.32

0.27 0.11 -0.65 -0.67

0.06 0.18 0.27 0.35

-1.26 3.45 0.58 1.80

-0.19 1.50 0.78 1.18

0.72 0.56 0.03 0.51

-1.79 1.39 -0.24 0.11

0.32 -1.01 0.26 -0.47

0.68 0.02 0.86 0.22

-0.37 -1.03 -0.60 -0.70

0.65 -0.08 0.44 0.02

0.02 -0.03 0.40 0.02

0.64 -0.06 0.04 0.00

0.92 2.37 2.95 2.47

1.34 0.48 0.01 2.97

0.25 1.04 0.44 1.69

0.07 0.18 0.54 0.83

1.03 -0.75 -0.96 0.45

-0.93 -0.72 -0.67 -0.25

0.05 0.46 -0.10 1.29

-0.98 -1.18 -0.56 -1.53

-0.85 -0.08 -0.22 0.29

-1.04 -0.47 -0.46 0.08

0.19 0.38 0.24 0.21

4.1 5.3 2.3 4.8

3.07 1.98 1.94 2.71

2.47 3.56 -1.11 2.89

0.39 0.81 0.75 1.82

0.34 0.58 -0.18 -0.22

1.74 2.17 -1.68 1.29

-0.65 -0.56 0.20 -0.19

0.34 1.31 1.49 0.93

-0.99 -1.86 -1.29 -1.12

-0.76 0.33 1.23 -0.64

-0.90 -0.16 0.71 -0.80

0.14 0.49 0.52 0.16

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.1 0.7 3.3 3.0

0.39 2.21 2.37 1.87

0.69 -1.68 -0.58 1.70

1.68 0.29 0.29 0.88

-0.38 -0.53 0.50 0.38

-0.61 -1.44 -1.37 0.44

-0.26 -0.11 1.75 0.21

0.72 0.59 1.92 0.68

-0.98 -0.70 -0.17 -0.47

0.28 0.31 -0.24 -0.82

-0.06 -0.05 -0.27 -1.06

0.34 0.36 0.03 0.24

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.9 6.7 3.4 4.8

2.46 3.02 1.74 2.28

0.76 3.17 3.14 -0.25

1.09 1.29 1.48 1.20

0.44 0.73 -0.05 -0.18

-0.77 1.15 1.71 -1.27

-0.85 -0.71 -1.23 2.09

0.56 0.77 0.38 2.75

-1.42 -1.48 -1.61 -0.66

0.49 1.23 -0.25 0.64

0.59 0.56 -0.66 -0.05

-0.10 0.67 0.40 0.69

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.1 6.2 5.1 3.0

2.89 1.27 4.42 2.78

1.40 4.39 1.38 1.12

1.14 1.14 2.34 0.37

0.06 0.22 0.08 0.17

0.21 3.03 -1.04 0.57

-1.22 -0.18 -0.73 -0.87

0.82 1.81 1.10 -0.04

-2.03 -1.99 -1.83 -0.83

0.06 0.73 0.01 0.01

-0.34 0.57 -0.15 -0.15

0.40 0.16 0.16 0.16

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.5 2.7 4.7 6.2

2.98 4.25 3.29 3.71

3.53 -1.12 1.57 1.71

1.57 1.44 0.45 1.49

0.35 0.47 0.48 0.44

1.61 -3.04 0.64 -0.22

-1.65 -1.86 -0.82 0.13

0.20 -0.48 -0.19 1.59

-1.85 -1.38 -0.63 -1.46

-0.41 1.40 0.66 0.64

-0.66 0.61 -0.19 0.20

0.25 0.79 0.85 0.44

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.4 3.4 4.8 7.3

2.68 4.23 2.90 3.47

1.96 0.05 1.72 2.65

0.87 1.47 1.19 0.12

0.16 0.16 0.11 0.23

0.93 -1.57 0.42 2.30

-1.67 -1.35 -0.75 0.01

-0.39 0.48 1.12 1.13

-1.28 -1.83 -1.87 -1.11

0.46 0.41 0.88 1.17

-0.14 0.09 0.49 0.58

0.60 0.32 0.39 0.59

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.0 6.4 -0.5 2.1

4.38 1.78 2.62 2.29

-1.30 4.65 -1.84 -0.36

1.64 1.76 0.28 0.11

0.19 -0.16 -0.38 0.02

-3.13 3.05 -1.74 -0.49

-1.53 -0.98 -0.87 -0.07

0.70 1.30 1.14 -0.31

-2.23 -2.27 -2.01 0.24

-0.56 0.96 -0.37 0.22

-0.93 0.96 -0.51 -0.07

0.36 0.01 0.15 0.29

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

-0.5 1.2 -1.4 1.6

1.07 0.67 1.20 4.71

-2.44 -1.28 -1.76 -3.95

-0.52 -1.76 -0.83 -1.63

0.10 0.25 0.08 -0.18

-2.01 0.23 -1.02 -2.14

-0.04 0.49 -0.56 -0.66

-0.59 -1.45 -2.04 -1.11

0.56 1.94 1.48 0.45

0.92 1.35 -0.28 1.48

0.46 0.52 0.00 0.51

0.46 0.83 -0.28 0.97

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.7 2.2 2.4 0.2

1.01 1.64 1.57 0.97

1.92 0.30 0.87 -0.14

-1.50 -0.66 -0.21 -0.52

0.46 0.43 0.09 0.30

2.95 0.53 0.98 0.08

-0.97 -0.62 -0.49 -1.52

0.47 0.96 0.27 -0.31

-1.44 -1.58 -0.76 -1.21

0.79 0.88 0.43 0.89

0.36 0.76 0.20 0.64

0.43 0.12 0.23 0.25

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.7 3.7 7.2 3.6

1.70 2.55 4.13 2.15

-0.03 0.42 2.53 1.78

-0.10 0.79 1.08 0.43

0.23 0.47 1.07 0.59

-0.16 -0.84 0.38 0.75

0.08 -0.66 0.48 -0.47

-0.29 -0.20 1.04 1.69

0.37 -0.46 -0.56 -2.16

-0.05 1.37 0.11 0.10

0.03 1.40 -0.14 0.21

-0.08 -0.04 0.25 -0.11

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.3 3.5 4.0 3.3

3.27 1.33 3.05 3.01

1.52 3.10 0.75 1.11

0.76 1.29 1.15 1.04

0.28 0.93 0.15 0.09

0.48 0.87 -0.56 -0.03

-1.16 -1.37 -0.17 -0.98

0.49 0.67 0.53 0.70

-1.65 -2.03 -0.70 -1.68

0.62 0.43 0.35 0.17

0.71 0.22 0.25 -0.04

-0.09 0.21 0.10 0.21

Total

Nonresidential

Net exports

Exports

Imports

Total

Federal

State and local

398

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-4. Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases (Index numbers, 2000 = 100.)

NIPA Tables 1.1.3, 1.4.3, 2.3.3 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.0 16.0 16.0 16.2

15.1 15.3 15.4 15.4

... ... ... ...

10.6 10.3 10.7 11.6

8.3 8.2 8.0 8.3

19.6 18.6 21.5 25.6

7.1 7.1 6.7 6.0

3.1 3.2 2.8 3.0

19.5 19.6 19.8 19.5

32.0 32.1 32.1 31.0

12.9 13.0 13.3 13.6

15.0 15.0 15.0 15.4

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.5 16.8 16.8 16.9

15.5 15.6 15.7 15.8

... ... ... ...

12.0 12.0 11.9 11.7

8.8 8.5 8.5 8.8

25.3 26.8 26.0 24.1

5.7 5.1 5.3 5.1

3.4 3.5 3.7 3.6

19.9 20.8 21.2 22.1

32.0 33.9 34.7 36.5

13.5 13.9 14.2 14.5

15.8 16.2 16.3 16.3

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.6 16.6 16.8 16.6

15.8 16.1 16.1 16.3

... ... ... ...

11.0 10.7 10.7 11.0

8.3 8.0 7.6 7.5

22.2 21.9 23.7 26.6

5.7 5.6 5.2 4.5

3.5 3.4 3.3 3.4

22.8 23.8 24.0 23.5

37.3 38.7 38.3 36.3

15.1 16.0 16.6 17.0

16.0 15.9 16.1 16.1

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

17.3 17.8 18.5 18.8

16.6 16.9 17.7 17.2

... ... ... ...

11.8 12.8 13.8 13.5

7.7 8.4 9.1 9.1

29.7 32.5 34.3 32.7

4.4 4.5 4.6 4.9

3.4 3.6 4.5 4.5

23.1 23.5 23.0 24.5

34.6 35.4 34.1 38.2

17.4 17.5 17.5 17.6

16.8 17.3 18.1 18.4

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

19.1 19.4 19.8 19.8

17.6 17.1 17.3 17.4

... ... ... ...

13.0 12.4 12.2 12.1

8.9 9.0 9.1 8.9

31.0 26.8 25.1 25.3

5.2 5.7 5.8 5.8

4.5 4.4 4.0 3.9

27.1 30.9 34.4 36.2

45.6 55.4 64.9 70.1

17.4 17.7 17.8 17.7

18.6 18.8 19.1 19.1

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

20.0 20.0 20.2 20.8

17.5 17.8 17.9 18.5

... ... ... ...

12.2 12.4 11.6 12.5

9.0 9.1 8.2 9.0

26.0 26.5 26.2 27.6

6.1 5.4 5.0 5.0

4.3 4.3 4.6 5.0

37.4 38.6 39.0 39.7

73.3 76.2 78.2 79.4

17.8 18.2 17.7 18.1

19.3 19.5 19.7 20.4

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

21.2 21.4 21.2 20.9

18.7 18.9 18.8 18.7

... ... ... ...

13.0 13.1 13.1 13.0

9.5 9.5 9.7 9.6

28.0 28.1 27.0 26.8

4.9 5.0 5.2 5.0

4.9 5.1 5.1 4.8

41.1 42.0 41.5 41.4

82.4 85.0 82.7 81.6

18.5 18.4 18.9 19.4

20.8 21.0 20.8 20.5

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

20.8 20.8 21.1 21.5

18.8 19.0 19.2 19.6

... ... ... ...

12.8 13.0 13.5 13.8

9.3 9.2 9.5 9.5

27.1 28.9 30.6 32.5

4.8 5.5 5.3 5.5

4.6 5.0 4.7 4.7

40.2 38.8 37.9 37.6

77.2 73.0 69.4 68.6

20.1 20.2 20.7 20.8

20.4 20.4 20.6 20.9

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.1 22.5 22.8 22.9

20.1 20.5 20.7 21.0

... ... ... ...

14.3 15.0 15.3 15.3

9.6 10.2 10.8 11.1

35.0 35.5 34.7 33.3

5.7 5.6 6.0 6.0

5.0 5.3 5.4 5.6

37.6 37.2 37.4 36.6

66.9 65.4 66.1 63.6

21.7 22.0 22.0 22.1

21.6 22.0 22.2 22.4

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.8 22.9 22.9 23.3

21.0 21.1 21.1 21.4

... ... ... ...

15.0 15.1 15.1 15.0

10.9 11.0 11.1 11.1

32.4 32.2 31.5 31.1

6.3 6.7 6.9 7.2

5.8 5.8 5.8 5.5

36.6 37.4 37.0 38.0

63.1 64.8 63.6 65.9

22.3 22.6 22.7 22.9

22.3 22.4 22.3 22.6

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

23.4 23.4 23.6 23.4

21.6 21.6 21.8 21.8

... ... ... ...

15.0 14.8 15.0 14.7

11.2 11.1 11.4 11.1

30.6 29.9 29.5 29.4

7.7 7.5 7.3 7.1

6.0 6.0 5.9 5.9

38.8 38.5 38.8 39.5

67.1 66.0 66.3 67.2

23.5 23.7 24.1 24.6

22.7 22.7 22.9 22.7

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.7 22.9 23.4 23.9

21.5 21.6 22.0 22.3

... ... ... ...

13.8 13.4 13.6 14.4

10.3 9.8 9.7 10.1

28.3 28.3 30.4 33.6

6.4 6.4 6.4 6.4

6.0 6.3 6.2 6.5

39.1 40.0 40.3 41.1

64.8 66.9 66.6 68.1

25.3 25.7 26.3 26.8

22.2 22.4 22.9 23.5

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

24.4 25.0 25.0 25.1

22.6 23.0 23.3 23.3

18.2 18.6 18.8 18.8

15.3 15.8 16.0 15.8

10.4 10.7 11.0 11.0

37.5 38.8 38.1 37.0

6.8 7.0 7.3 7.1

6.7 7.0 7.1 6.9

40.9 41.5 42.0 41.6

67.0 68.6 70.0 69.0

27.0 27.0 27.1 26.9

23.9 24.5 24.5 24.6

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

25.6 25.5 25.6 25.2

23.5 23.8 23.7 23.7

19.0 19.3 19.3 19.3

16.3 16.0 15.6 15.5

11.4 11.6 11.3 11.2

38.0 34.9 33.8 33.8

8.0 8.5 8.2 8.4

7.2 7.2 7.0 6.7

40.7 41.1 42.1 42.3

65.9 65.6 67.7 67.9

27.4 28.1 28.5 28.8

25.0 24.8 24.9 24.5

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

25.4 25.9 26.3 26.8

23.7 24.1 24.2 24.7

19.2 19.6 19.7 20.3

15.3 15.6 15.9 16.5

11.0 11.2 11.3 11.7

33.9 34.0 35.9 37.1

8.4 8.2 8.2 8.4

6.6 6.7 7.2 7.3

42.9 43.0 43.8 44.8

67.8 68.4 70.4 71.6

29.7 29.5 29.8 30.6

24.6 25.1 25.6 26.1

. . . = Not available.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

399

Table 19-4. Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.3, 1.4.3, 2.3.3 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

27.3 27.6 27.8 27.9

25.0 25.3 25.5 25.8

20.5 20.8 21.0 21.4

16.8 17.3 17.5 17.4

12.0 12.3 12.5 12.4

37.7 38.9 38.9 38.8

8.4 9.2 8.7 8.5

7.5 7.7 7.8 7.9

45.6 45.9 46.9 47.0

74.3 74.6 76.8 76.4

30.4 30.6 31.0 31.3

26.6 26.8 27.2 27.3

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

28.3 28.6 29.2 29.4

26.0 26.3 26.6 26.8

21.6 21.9 22.2 22.4

17.6 18.4 18.9 19.5

12.4 12.8 13.2 13.6

40.2 43.1 43.9 45.3

8.7 9.8 9.2 9.7

7.7 7.9 8.1 8.1

46.7 46.6 48.6 48.2

74.5 73.8 77.9 75.9

31.9 32.2 33.1 33.5

27.6 27.8 28.4 28.6

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

30.1 30.4 30.8 30.9

27.4 27.9 28.4 28.5

23.0 23.4 23.8 23.9

20.2 20.2 20.5 20.6

13.9 14.3 14.8 15.1

48.1 45.6 44.9 44.1

10.3 10.5 10.4 10.7

8.1 8.3 8.5 8.7

48.3 48.7 48.7 48.6

75.5 75.0 74.4 73.3

34.0 34.8 35.2 35.6

29.1 29.5 29.9 30.0

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31.7 32.1 32.7 33.5

29.1 29.4 29.9 30.8

24.5 24.7 25.2 25.9

21.6 22.2 22.8 23.3

16.1 16.7 17.3 18.0

44.2 44.6 44.7 43.8

9.5 11.3 10.7 11.5

8.4 9.4 9.4 9.9

48.4 49.1 50.8 51.9

72.4 72.5 75.5 77.6

35.9 36.8 37.9 38.4

30.9 31.2 31.9 32.7

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

34.4 34.5 34.7 35.0

31.2 31.3 31.7 31.8

26.4 26.4 26.8 27.0

24.2 23.9 23.8 23.1

18.8 19.1 19.4 19.3

44.8 41.2 39.8 35.7

11.2 11.7 11.3 11.7

10.1 10.4 11.0 11.1

52.8 53.7 55.2 56.1

79.3 81.4 84.7 85.4

38.9 39.2 39.6 40.7

33.5 33.6 34.0 34.2

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

35.3 35.3 35.6 35.8

32.0 32.4 32.6 32.8

27.1 27.5 27.8 27.8

22.6 23.2 23.4 24.1

18.9 18.8 18.7 19.1

34.6 38.5 40.5 42.8

11.9 11.8 11.5 11.8

11.3 11.2 11.3 11.9

58.4 58.1 58.7 59.1

91.3 90.0 91.4 91.2

41.2 41.4 41.5 42.3

34.5 34.5 34.9 35.2

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

36.6 37.2 37.5 37.6

33.5 34.1 34.7 34.8

28.6 29.0 29.6 29.8

24.7 24.6 24.9 25.5

19.7 19.4 19.6 20.2

43.1 44.2 45.0 45.5

12.2 12.4 13.1 13.0

12.6 12.8 13.6 13.5

60.2 60.4 60.6 60.6

92.8 92.0 91.2 90.7

43.0 43.8 44.5 44.9

35.9 36.5 36.8 37.0

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

38.2 38.3 38.5 38.4

35.2 35.5 35.6 35.9

30.1 30.3 30.5 30.7

26.3 26.5 26.9 26.2

20.8 21.0 21.6 21.5

47.1 46.6 46.3 42.9

11.4 14.0 13.6 14.1

12.2 14.6 14.4 14.3

60.7 60.4 60.5 59.6

90.2 88.7 88.8 86.4

45.2 45.6 45.7 45.6

37.6 37.7 37.9 37.6

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

38.3 38.4 38.7 38.3

36.1 36.3 36.6 36.5

30.8 30.9 31.2 31.0

26.1 25.6 26.0 26.0

21.4 21.3 21.4 20.6

43.0 40.1 42.2 46.7

14.2 14.9 14.8 15.0

14.2 14.5 14.5 14.7

59.3 58.5 58.8 58.8

84.7 82.0 80.8 80.4

46.0 46.3 47.3 47.6

37.6 37.6 37.9 37.5

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

39.4 39.6 39.9 40.0

37.2 37.5 37.8 38.5

31.8 32.2 32.6 33.3

26.6 27.7 28.2 29.0

20.8 21.1 21.1 21.6

49.2 54.1 56.8 59.0

15.0 15.0 15.6 14.3

14.5 15.6 15.9 14.9

57.8 57.6 57.6 57.2

77.3 76.2 75.8 73.5

47.8 48.1 48.2 48.8

38.5 38.9 39.2 39.3

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

40.7 41.7 42.1 42.8

39.0 39.7 40.3 41.3

33.8 34.4 35.0 35.9

30.3 30.9 31.2 32.6

22.3 22.7 23.0 24.2

63.0 64.2 64.3 66.6

15.8 15.3 16.3 17.0

17.0 16.4 16.8 17.5

57.4 57.7 56.5 56.9

73.8 74.9 70.9 70.7

49.0 48.9 49.3 50.0

40.1 41.0 41.3 42.0

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

43.9 44.4 44.1 44.5

42.0 42.0 42.1 42.0

36.8 36.9 37.0 37.0

34.0 34.3 34.2 33.9

25.4 26.4 26.9 27.1

68.9 65.4 62.6 59.6

18.2 19.1 19.1 20.1

18.3 17.8 17.3 17.5

57.4 57.1 56.4 56.8

71.8 70.7 67.7 67.8

50.2 50.3 50.8 51.4

43.0 43.3 43.0 43.3

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

44.2 44.3 43.9 43.7

41.7 41.8 42.0 41.4

37.0 37.1 37.1 36.4

33.1 32.6 32.0 30.2

27.0 27.0 26.7 25.9

55.2 52.8 51.1 44.4

20.3 21.3 20.2 20.7

16.9 17.8 17.4 17.3

58.0 58.4 58.4 58.7

69.9 69.8 70.1 70.7

52.1 52.8 52.7 52.8

42.7 42.8 42.6 42.3

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

43.2 43.5 44.2 44.8

41.8 42.4 43.0 43.5

36.8 37.3 38.0 38.6

28.4 28.0 28.7 29.2

24.3 23.7 23.9 24.1

41.6 42.5 45.5 47.5

20.9 20.2 19.9 21.0

15.5 14.3 15.5 16.3

59.4 58.9 60.0 60.5

69.9 69.3 71.0 71.2

54.3 53.9 54.6 55.3

41.4 41.5 42.6 43.1

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

45.8 46.1 46.4 46.7

44.4 44.8 45.2 45.8

39.3 39.6 40.0 40.5

30.4 30.9 31.2 32.8

24.6 24.9 25.4 25.9

52.3 53.8 52.9 59.7

20.9 21.1 21.7 21.9

17.3 18.1 18.8 19.4

60.6 59.9 59.6 59.6

70.6 70.4 70.2 70.4

55.9 54.9 54.5 54.4

44.3 44.7 45.0 45.4

400

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-4. Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.3, 1.4.3, 2.3.3 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

47.3 48.2 49.1 49.1

46.4 46.6 47.1 47.8

41.0 41.5 42.0 42.8

34.0 35.9 36.4 37.1

26.9 27.7 28.3 29.3

61.5 68.5 68.3 67.4

21.6 22.2 22.3 21.6

20.4 20.5 20.3 20.5

60.1 60.7 60.9 60.7

71.0 72.1 72.6 71.8

54.9 55.2 55.2 55.3

46.2 47.1 47.8 48.0

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

49.2 51.1 51.7 52.3

48.0 49.1 49.3 49.7

43.0 44.3 44.5 44.8

37.4 40.1 41.2 42.1

29.5 32.0 33.2 34.2

67.8 71.0 72.0 71.7

22.1 24.4 24.7 25.7

21.9 22.0 22.3 22.6

60.8 62.4 62.9 63.5

72.1 73.8 74.1 74.7

55.3 56.9 57.5 58.1

48.3 49.8 50.3 50.9

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

52.4 52.5 52.9 53.0

49.9 49.9 50.4 50.6

45.0 45.2 45.8 45.8

42.4 42.1 42.9 42.5

35.0 34.9 36.0 36.1

70.1 68.8 67.9 65.4

25.7 25.8 26.7 28.4

22.5 22.6 22.3 22.8

62.9 63.6 63.7 64.1

74.8 75.8 75.6 75.6

57.1 57.6 57.8 58.5

51.0 51.0 51.2 51.1

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

53.2 52.1 52.0 53.0

50.5 49.3 49.9 50.6

45.7 44.5 45.3 46.2

41.9 38.2 38.6 40.1

36.5 34.6 34.9 35.6

60.4 49.2 50.0 54.9

29.2 29.7 29.7 29.5

22.8 21.1 19.6 20.7

65.1 65.3 64.4 64.3

78.0 80.0 78.9 79.2

58.8 58.0 57.2 57.0

51.2 49.6 49.2 50.4

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

54.1 53.6 54.3 53.6

50.8 50.8 51.0 50.6

46.5 46.3 46.7 46.1

40.4 40.7 40.7 40.6

36.2 36.9 37.8 38.7

53.9 52.1 48.1 43.2

30.0 30.2 29.6 29.7

21.6 21.6 21.4 22.0

65.2 65.3 65.2 65.8

80.8 83.2 83.1 84.0

57.4 56.3 56.1 56.5

51.6 51.1 51.8 51.3

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

52.7 53.0 52.8 52.9

50.9 51.1 51.5 52.4

46.5 46.6 47.1 48.2

39.3 37.9 36.9 36.8

37.8 36.4 35.2 34.5

40.7 39.4 39.3 42.2

28.4 28.6 27.3 26.1

21.3 21.0 22.0 21.1

65.7 66.1 66.6 67.7

84.2 84.9 86.2 88.8

56.4 56.6 56.6 56.9

50.5 50.7 50.9 51.0

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

53.5 54.7 55.8 56.9

53.0 54.0 55.0 55.8

48.8 49.9 50.8 51.9

37.6 39.1 41.4 43.8

33.9 34.3 35.8 38.1

49.3 55.2 60.6 63.2

26.5 26.6 27.0 27.5

21.6 23.2 25.1 26.3

68.2 68.8 70.0 68.8

89.8 91.7 94.3 91.0

57.2 57.0 57.5 57.4

51.6 53.1 54.5 55.7

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

58.1 59.1 59.6 60.1

56.3 57.1 57.6 58.3

52.6 53.3 53.8 54.7

45.2 47.1 48.1 49.0

39.4 41.3 42.7 43.7

65.0 66.2 65.5 65.6

28.1 28.8 29.4 30.0

28.4 29.6 30.4 31.2

69.5 71.0 71.5 73.1

91.8 94.7 94.3 97.4

58.1 58.8 59.9 60.5

57.1 58.2 58.8 59.4

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

60.7 61.2 62.2 62.6

59.3 59.8 61.0 61.1

55.7 56.4 57.7 57.7

49.3 49.9 49.5 50.5

44.2 44.9 44.2 44.9

65.4 65.9 66.8 68.3

30.0 29.9 29.5 30.4

30.6 32.1 31.7 33.0

73.9 75.6 77.5 78.0

98.5 100.9 104.3 104.2

61.3 62.5 63.7 64.5

59.8 60.6 61.5 62.0

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

63.2 63.5 64.1 64.4

61.6 62.3 63.4 63.8

58.3 59.0 60.3 60.6

50.6 50.4 50.1 50.5

44.3 43.2 42.6 43.0

71.3 75.2 76.4 76.2

31.3 31.7 32.4 33.6

33.0 34.4 35.3 35.6

78.8 80.5 82.3 81.9

103.7 107.0 111.0 109.3

66.1 66.9 67.5 67.7

62.5 62.9 63.6 63.8

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

64.8 65.6 66.1 67.3

63.8 64.7 65.4 65.5

60.7 61.6 62.5 62.6

49.5 50.4 51.4 51.4

41.8 42.8 44.2 44.1

76.0 76.4 76.1 76.5

33.6 35.0 36.5 37.8

35.4 36.3 37.0 37.8

82.1 82.7 82.8 83.9

110.0 111.6 111.7 113.4

67.7 67.8 67.9 68.8

64.1 64.8 65.3 66.4

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

67.6 68.5 68.9 69.8

66.6 67.1 67.7 68.5

63.6 64.0 64.5 65.3

51.4 52.4 52.6 53.1

44.5 45.6 45.8 46.3

74.9 75.5 75.5 76.2

39.9 41.0 41.8 43.1

37.6 37.2 38.1 39.2

83.4 83.6 83.5 85.1

110.3 109.2 108.4 111.6

69.6 70.5 70.7 71.5

66.4 67.0 67.4 68.3

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

70.5 70.9 71.4 71.6

68.7 69.0 69.7 70.0

65.6 66.1 66.8 66.9

53.6 53.7 54.6 53.7

47.1 47.7 49.1 48.4

75.7 73.4 72.6 71.1

44.3 46.3 46.8 47.6

39.1 39.7 39.7 40.3

84.6 85.9 86.7 87.2

109.4 111.8 112.9 112.3

71.9 72.6 73.3 74.2

68.8 69.1 69.5 69.7

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

72.4 72.6 72.6 72.1

70.6 70.8 71.1 70.6

67.8 67.8 68.0 67.6

54.4 53.2 52.6 51.1

49.0 48.2 48.5 47.5

71.8 69.1 65.1 61.5

49.6 50.2 50.6 51.1

41.2 41.6 41.6 40.2

88.5 88.7 88.7 89.6

114.0 114.2 113.2 114.2

75.4 75.6 76.1 76.9

70.3 70.5 70.5 69.6

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

401

Table 19-4. Chain-Type Quantity Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.3, 1.4.3, 2.3.3 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

71.7 72.2 72.5 72.9

70.3 70.9 71.2 71.2

67.4 67.8 68.2 68.3

49.3 49.3 49.4 49.5

46.3 45.9 45.4 45.2

57.9 59.2 61.7 63.0

51.4 53.3 54.5 55.8

39.4 40.5 41.6 42.1

89.9 90.2 89.8 89.5

115.0 115.4 113.3 111.1

77.0 77.3 77.8 78.3

69.1 69.5 69.9 70.1

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

73.6 74.3 75.1 75.9

72.3 72.8 73.5 74.3

69.6 70.2 71.0 71.7

50.0 52.0 52.8 54.4

45.0 46.8 47.7 49.2

66.3 68.8 69.0 71.3

56.7 56.8 58.0 58.3

42.5 43.5 44.1 44.9

90.2 90.1 90.6 90.6

111.1 111.0 112.3 112.4

79.4 79.3 79.3 79.3

70.8 71.6 72.3 73.2

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

76.0 76.4 76.8 77.8

74.6 75.3 76.1 76.8

72.1 72.8 73.5 74.3

54.7 56.0 57.0 59.5

49.5 50.8 51.4 53.5

71.6 72.5 75.0 78.7

58.4 59.1 58.9 60.8

45.9 47.2 47.8 49.5

89.6 89.5 89.3 89.6

108.9 107.4 105.8 106.1

79.7 80.3 80.7 81.1

73.4 73.9 74.4 75.5

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

78.6 79.6 80.1 81.0

77.6 78.2 78.7 79.5

75.3 75.7 76.4 77.4

60.3 61.7 62.3 64.0

54.0 55.1 56.2 58.7

80.3 83.0 82.1 81.1

61.4 63.4 65.8 67.3

50.6 52.7 54.2 55.5

88.7 89.1 90.5 89.8

102.9 102.4 104.8 102.0

81.3 82.2 83.2 83.5

76.3 77.4 77.8 78.8

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

81.2 81.4 82.0 82.6

79.6 80.3 81.0 81.6

77.5 78.2 79.0 79.7

65.5 65.2 66.1 67.5

61.0 61.5 61.9 63.1

79.3 76.7 79.1 80.9

68.5 69.4 72.5 73.6

56.7 57.5 57.7 58.3

90.1 90.5 90.2 89.2

101.8 101.6 100.7 96.9

84.1 84.8 84.8 85.2

79.0 79.2 79.5 80.0

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

83.2 84.6 85.3 86.3

82.3 83.2 83.7 84.4

80.4 81.4 82.2 82.9

69.2 71.5 73.1 74.3

64.7 66.6 68.8 70.6

83.0 86.5 86.3 85.4

74.5 75.7 76.4 81.1

59.9 61.8 63.8 64.7

89.7 91.2 90.9 91.7

98.9 100.8 98.4 98.2

85.0 86.2 87.0 88.4

80.7 82.2 83.1 83.7

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

87.0 88.3 89.4 90.0

85.3 85.7 87.1 88.0

83.9 84.4 86.0 87.0

75.8 77.4 80.4 81.1

72.4 74.2 78.0 78.7

85.7 86.8 87.2 88.1

82.6 85.9 87.9 87.9

67.4 70.1 72.7 73.9

91.9 92.8 92.8 92.8

97.0 99.1 98.5 97.7

89.2 89.6 90.0 90.3

84.6 85.9 87.1 87.9

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

91.0 91.6 92.7 94.1

89.0 90.4 91.5 92.7

88.1 89.5 90.7 92.2

83.5 86.0 87.3 89.8

81.3 83.8 84.6 87.2

89.9 92.4 94.9 97.2

88.2 87.3 86.9 90.2

76.6 78.7 79.7 82.1

92.3 94.2 95.0 95.9

95.4 97.8 96.9 97.8

90.7 92.3 94.1 94.9

89.3 90.3 91.5 92.8

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

94.9 95.7 96.8 98.5

93.6 95.1 96.1 97.3

93.2 94.7 95.8 97.0

91.2 93.4 95.2 95.7

88.8 91.5 93.7 93.9

98.0 98.9 99.5 100.7

89.4 90.4 92.8 95.2

84.2 87.2 90.2 92.0

96.6 97.1 98.3 99.9

97.2 97.7 99.6 101.9

96.2 96.9 97.7 98.9

94.0 95.0 96.3 97.9

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

98.8 100.3 100.2 100.7

98.8 99.5 100.4 101.3

98.9 99.4 100.5 101.2

98.3 100.6 100.4 100.6

97.1 100.5 101.1 101.3

101.7 100.8 98.7 98.8

96.8 99.6 102.2 101.5

95.6 99.4 102.7 102.3

99.2 100.5 100.0 100.3

98.2 102.1 100.0 99.7

99.7 99.7 100.0 100.6

98.5 100.3 100.4 100.9

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.6 100.9 100.6 100.9

101.7 101.9 102.4 104.1

101.7 102.3 102.8 104.7

100.0 97.7 96.6 93.9

100.2 96.6 94.9 91.6

99.3 100.7 101.2 100.2

100.1 96.7 92.0 89.4

101.3 98.0 95.3 94.5

101.6 103.6 103.2 105.3

101.7 103.9 103.9 106.1

101.6 103.4 102.8 104.9

100.8 100.9 100.7 101.3

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

101.6 102.2 102.8 102.8

104.5 105.1 105.7 106.1

105.1 105.6 106.3 106.6

92.4 92.1 91.9 91.6

88.5 87.1 86.7 85.6

102.7 105.1 105.6 107.2

90.6 92.9 93.5 92.8

97.2 100.1 101.5 103.7

106.4 107.7 108.3 109.5

107.7 110.9 111.7 114.4

105.8 106.0 106.5 107.1

102.2 102.9 103.6 104.0

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.3 104.2 106.1 107.0

106.7 107.7 109.2 110.0

107.3 108.5 110.0 110.8

91.8 93.7 97.0 98.7

85.4 87.1 89.4 90.4

108.5 111.0 116.6 119.9

92.1 91.6 94.2 98.4

103.0 103.9 104.9 109.0

109.5 111.4 111.5 111.7

114.5 120.4 119.8 120.7

106.9 106.8 107.4 107.1

104.4 105.5 107.1 108.2

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

108.1 109.0 110.1 111.0

111.3 111.8 113.0 114.2

112.0 112.5 113.9 114.9

100.3 103.9 106.0 107.9

92.1 95.1 97.8 100.2

121.4 126.4 127.3 127.8

99.6 101.3 102.6 104.4

112.1 116.0 117.3 120.5

112.6 113.2 113.8 114.0

123.8 124.8 125.9 125.7

106.9 107.4 107.6 108.1

109.5 110.8 111.9 113.0

402

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-5. Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases (Index numbers, 2000 = 100.)

NIPA Tables 1.1.4, 1.6.4, 2.3.4 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

15.1 15.3 15.6 15.9

15.4 15.5 15.8 16.2

... ... ... ...

18.7 19.4 19.9 20.3

22.2 22.9 23.6 24.0

11.9 12.6 12.9 13.2

23.4 25.1 26.3 27.0

16.3 17.5 18.4 19.0

10.8 10.9 10.7 10.8

12.6 12.5 12.1 12.1

8.8 9.0 9.2 9.5

14.8 15.0 15.2 15.5

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.1 16.3 16.6 16.6

16.4 16.5 16.8 16.7

... ... ... ...

20.6 21.0 21.7 21.9

24.1 24.8 25.7 26.1

13.4 13.6 13.9 13.9

27.2 27.0 26.7 26.3

19.5 19.5 19.3 19.0

11.0 11.1 11.3 11.4

12.1 12.1 12.3 12.3

9.8 10.0 10.4 10.5

15.7 15.9 16.2 16.2

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.5 16.4 16.3 16.3

16.6 16.5 16.4 16.4

... ... ... ...

21.9 21.8 21.6 21.5

25.9 25.8 25.7 25.6

14.1 14.0 13.7 13.7

25.8 25.3 24.9 24.7

18.6 18.4 18.3 18.4

11.6 11.6 11.4 11.5

12.8 12.8 12.5 12.8

10.4 10.3 10.2 10.2

16.2 16.1 16.0 16.0

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.2 16.3 16.6 16.9

16.4 16.5 16.8 17.1

... ... ... ...

21.5 21.9 22.5 22.9

25.6 25.8 26.4 27.3

13.7 14.1 14.6 14.6

24.3 24.3 24.5 25.0

18.7 19.1 19.8 20.7

11.5 11.4 11.6 11.7

12.8 12.6 12.6 12.6

10.1 10.2 10.5 10.8

15.9 16.0 16.4 16.6

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

17.5 17.6 17.6 17.8

17.6 17.8 17.8 18.0

... ... ... ...

23.7 24.0 24.2 24.5

28.2 28.7 29.0 29.3

15.0 15.2 15.3 15.4

26.5 27.4 28.3 28.7

22.4 23.6 24.3 24.4

12.3 12.2 12.3 12.4

13.4 13.1 13.1 13.3

11.1 11.3 11.6 11.7

17.2 17.3 17.4 17.6

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

17.9 17.9 18.1 18.1

18.1 18.1 18.2 18.3

... ... ... ...

24.6 24.7 24.7 24.7

29.4 29.5 29.4 29.4

15.5 15.6 15.8 15.7

28.0 27.9 27.8 27.8

23.4 23.0 22.6 22.2

12.3 12.5 12.6 12.8

13.1 13.3 13.4 13.6

11.7 11.8 12.1 12.1

17.6 17.7 17.8 17.9

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

18.2 18.2 18.3 18.3

18.3 18.4 18.5 18.5

... ... ... ...

24.7 24.8 25.0 25.0

29.4 29.7 29.9 29.9

15.7 15.7 15.9 15.8

27.9 27.9 27.8 27.7

22.0 21.8 21.7 21.7

12.7 12.7 12.6 12.7

13.4 13.5 13.4 13.5

12.2 12.2 12.2 12.1

17.9 17.9 18.0 18.0

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

18.4 18.4 18.4 18.5

18.6 18.6 18.6 18.5

... ... ... ...

25.0 25.1 25.1 25.1

30.0 30.1 29.9 30.0

15.7 15.8 15.9 15.9

27.5 27.4 27.4 27.4

22.0 22.1 22.2 22.2

12.8 12.9 13.0 13.1

13.6 13.6 13.8 13.9

12.1 12.4 12.4 12.5

18.1 18.2 18.2 18.2

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

18.5 18.6 18.8 18.9

18.6 18.6 18.7 18.8

... ... ... ...

25.1 25.3 25.6 26.0

29.9 30.0 30.5 31.2

16.0 16.1 16.3 16.3

27.5 27.6 27.7 27.9

21.9 22.0 22.0 22.1

13.2 13.4 13.6 13.8

14.1 14.5 14.6 14.8

12.4 12.5 12.7 12.8

18.2 18.3 18.5 18.6

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

19.1 19.3 19.5 19.6

18.8 19.0 19.2 19.3

... ... ... ...

26.5 26.8 27.2 27.4

32.1 32.3 33.2 33.6

16.4 16.6 16.7 16.6

28.1 28.4 28.7 29.1

22.1 22.3 22.4 22.7

14.0 14.2 14.4 14.4

15.0 15.2 15.3 15.4

13.1 13.3 13.5 13.7

18.8 18.9 19.2 19.3

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

19.8 20.0 20.1 20.2

19.4 19.6 19.7 19.8

... ... ... ...

27.7 27.8 28.0 28.1

34.2 34.3 34.6 34.9

16.6 16.6 16.7 16.6

29.5 29.7 29.8 29.8

22.7 22.8 22.6 22.4

14.7 14.9 15.0 15.0

15.7 15.8 16.0 16.1

13.8 14.0 14.1 14.1

19.5 19.6 19.8 19.9

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

20.4 20.5 20.6 20.6

20.1 20.1 20.1 20.1

... ... ... ...

27.9 28.0 28.0 28.1

34.5 34.7 34.7 34.8

16.6 16.6 16.6 16.6

29.5 29.3 29.3 29.4

21.9 21.7 21.6 21.6

15.1 15.3 15.4 15.5

16.3 16.5 16.7 16.8

14.0 14.1 14.2 14.3

20.0 20.1 20.2 20.2

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

20.7 20.7 20.8 20.9

20.3 20.4 20.5 20.6

20.9 21.0 21.1 21.2

28.1 28.2 28.3 28.4

34.9 35.1 35.2 35.3

16.6 16.6 16.6 16.6

29.2 29.2 29.5 29.8

21.8 21.8 21.9 22.1

15.5 15.4 15.3 15.4

16.6 16.5 16.3 16.4

14.5 14.5 14.5 14.5

20.3 20.3 20.4 20.5

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

20.9 21.0 21.1 21.2

20.6 20.7 20.8 20.9

21.3 21.3 21.4 21.5

28.4 28.5 28.4 28.4

35.3 35.3 35.3 35.2

16.7 16.8 16.8 16.8

29.8 29.8 29.9 29.8

22.1 22.1 22.2 22.1

15.4 15.5 15.7 15.8

16.4 16.4 16.7 16.9

14.6 14.7 14.8 14.8

20.5 20.6 20.7 20.8

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

21.2 21.2 21.3 21.4

20.9 20.9 21.0 21.0

21.5 21.6 21.7 21.7

28.3 28.3 28.3 28.3

35.1 35.1 35.0 35.1

16.7 16.8 16.8 16.8

30.0 30.4 30.3 30.5

22.2 22.1 22.1 22.1

15.8 15.9 15.9 16.0

16.8 16.9 16.8 16.9

14.9 15.0 15.1 15.3

20.8 20.8 20.9 20.9

. . . = Not available.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

403

Table 19-5. Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.4, 1.6.4, 2.3.4 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

21.5 21.5 21.6 21.7

21.1 21.2 21.3 21.3

21.8 21.9 22.0 22.0

28.3 28.4 28.4 28.3

35.1 35.1 35.1 35.1

16.8 16.8 16.8 16.8

30.6 30.3 30.3 30.3

21.8 21.9 21.8 21.9

16.2 16.3 16.3 16.5

17.1 17.1 17.2 17.4

15.5 15.5 15.6 15.7

21.0 21.1 21.2 21.2

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

21.7 21.8 21.8 21.9

21.4 21.4 21.5 21.6

22.1 22.1 22.2 22.3

28.3 28.3 28.2 28.3

35.1 35.1 35.1 35.1

16.8 16.7 16.5 16.6

30.4 30.3 30.3 30.3

22.1 22.2 22.3 22.5

16.6 16.6 16.6 16.9

17.5 17.5 17.5 17.9

15.8 15.9 15.9 16.0

21.3 21.3 21.4 21.5

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.0 22.1 22.2 22.3

21.7 21.7 21.8 21.9

22.4 22.5 22.5 22.6

28.2 28.4 28.4 28.8

35.1 35.3 35.3 35.5

16.5 16.7 16.8 17.2

30.4 30.4 30.6 30.9

22.7 22.8 22.7 22.8

17.0 17.1 17.2 17.3

18.0 18.1 18.3 18.3

16.1 16.2 16.3 16.3

21.6 21.7 21.8 21.9

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.4 22.5 22.6 22.7

22.0 22.1 22.2 22.2

22.7 22.7 22.8 22.9

28.8 28.8 28.9 29.2

35.5 35.6 35.7 35.9

17.1 17.2 17.1 17.6

31.6 31.5 31.5 31.4

23.0 22.9 23.1 23.3

17.4 17.5 17.6 17.9

18.4 18.5 18.7 19.1

16.5 16.6 16.7 16.9

21.9 22.0 22.1 22.3

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.9 23.1 23.3 23.5

22.4 22.6 22.8 22.9

23.0 23.1 23.3 23.5

29.1 29.6 29.6 29.9

35.8 36.2 36.3 36.6

17.4 18.0 17.9 18.3

32.0 32.2 32.6 33.2

23.4 23.7 23.6 23.7

18.0 18.2 18.5 18.6

19.1 19.1 19.6 19.6

17.1 17.4 17.6 17.9

22.4 22.6 22.8 23.0

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

23.6 23.8 24.0 24.2

23.0 23.1 23.3 23.5

23.6 23.8 24.0 24.2

30.1 30.2 30.4 30.8

36.8 37.0 37.2 37.6

18.3 18.4 18.5 18.9

33.7 33.7 33.7 33.8

23.7 23.7 23.7 23.7

18.8 19.0 19.2 19.5

19.5 19.8 20.0 20.4

18.2 18.4 18.6 18.8

23.1 23.3 23.5 23.7

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

24.5 24.8 25.0 25.4

23.8 24.0 24.3 24.5

24.5 24.8 25.1 25.4

31.1 31.4 31.6 32.3

37.8 38.2 38.5 39.1

19.2 19.4 19.4 20.1

34.1 34.8 34.4 34.6

23.8 24.0 24.1 24.2

19.7 20.0 20.2 20.6

20.5 20.8 21.2 21.5

19.1 19.4 19.5 19.9

24.0 24.2 24.5 24.8

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

25.6 26.0 26.3 26.7

24.8 25.1 25.4 25.7

25.6 25.9 26.2 26.5

32.6 33.0 33.3 33.7

39.4 39.8 40.2 40.7

20.5 20.8 20.9 21.2

35.1 35.2 35.7 36.5

24.3 24.5 24.6 25.3

20.7 21.1 21.6 21.9

21.5 21.8 22.5 22.7

20.2 20.6 21.0 21.4

25.1 25.4 25.8 26.1

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

27.1 27.4 27.7 28.0

26.0 26.3 26.6 26.9

26.8 27.1 27.4 27.8

33.9 34.7 34.6 35.0

41.1 41.8 42.1 42.6

21.2 22.0 21.4 21.6

36.5 37.2 37.1 37.2

25.5 25.8 26.5 26.7

22.5 22.9 23.3 23.6

23.5 23.7 24.1 24.4

21.8 22.3 22.7 23.1

26.5 26.8 27.1 27.4

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

28.4 28.8 29.1 29.3

27.2 27.5 27.7 27.9

28.1 28.4 28.7 28.9

35.6 36.1 36.6 36.9

43.2 43.8 44.1 44.4

22.1 22.6 23.0 23.4

38.3 38.4 38.2 38.5

27.4 27.5 27.8 28.2

24.3 24.7 25.1 25.4

25.2 25.7 26.1 26.7

23.6 24.0 24.3 24.5

27.9 28.2 28.5 28.8

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

29.8 30.0 30.3 30.6

28.2 28.4 28.6 28.9

29.2 29.4 29.6 29.8

37.4 37.6 38.0 38.5

44.9 45.2 45.5 45.8

23.7 23.8 24.2 24.9

39.6 39.9 40.1 41.0

28.7 29.5 29.9 30.6

26.3 26.6 26.9 27.4

28.1 28.3 28.5 29.2

25.0 25.3 25.7 26.1

29.2 29.4 29.7 30.1

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31.0 31.5 32.1 32.7

29.2 29.8 30.3 31.0

30.0 30.4 30.7 31.1

38.9 39.6 40.4 40.9

46.2 46.8 47.5 48.0

25.3 25.9 26.8 27.2

42.1 44.0 46.6 49.0

31.5 34.0 35.6 38.2

28.0 28.5 29.0 29.5

29.7 30.1 30.7 31.3

26.7 27.3 27.7 28.2

30.5 31.1 31.6 32.2

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

33.4 34.1 35.2 36.2

31.9 32.8 33.6 34.5

31.6 32.4 33.3 34.1

41.7 42.9 44.6 46.4

48.8 50.4 52.5 54.9

27.9 28.5 29.4 30.2

52.4 54.2 57.2 60.1

44.3 49.4 52.0 53.7

30.2 31.1 32.1 33.2

31.8 32.5 33.5 34.9

29.0 30.0 31.0 31.9

33.1 34.0 35.0 36.1

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

37.1 37.6 38.3 39.0

35.1 35.6 36.2 36.9

34.7 35.3 35.8 36.4

48.1 49.2 49.8 50.5

57.1 58.6 59.3 60.1

31.0 31.5 31.8 32.4

61.8 61.6 61.5 61.8

54.5 54.6 53.4 53.5

33.9 34.5 35.1 35.8

35.6 36.1 36.8 37.9

32.6 33.3 33.8 34.3

36.8 37.4 38.1 38.7

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

39.4 39.9 40.4 41.1

37.3 37.6 38.2 38.8

36.9 37.4 38.0 38.6

51.0 51.9 52.6 53.5

60.8 61.6 62.4 63.3

32.6 33.6 34.1 34.7

62.7 63.4 63.8 64.9

54.4 55.2 56.2 56.8

36.3 36.8 37.3 38.0

38.3 38.7 39.3 40.5

34.9 35.4 35.8 36.2

39.2 39.6 40.2 40.8

404

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-5. Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.4, 1.6.4, 2.3.4 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

41.8 42.5 43.0 43.8

39.5 40.1 40.7 41.3

39.2 39.8 40.4 41.0

54.6 55.7 56.9 58.1

64.6 65.6 66.8 67.9

35.5 36.5 37.7 38.8

65.7 66.6 66.3 66.6

58.7 60.4 61.2 61.8

38.8 39.4 39.8 40.8

41.4 41.9 42.1 43.4

36.9 37.6 38.2 38.8

41.6 42.3 43.0 43.7

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

44.5 45.4 46.1 47.1

42.0 42.9 43.6 44.5

41.7 42.4 43.1 43.8

59.3 60.5 61.7 62.9

68.9 70.1 71.2 72.5

40.0 41.2 42.2 43.4

67.9 69.6 70.8 73.1

62.8 64.4 65.4 66.6

41.3 41.9 42.5 43.3

43.9 44.3 44.9 46.1

39.4 40.1 40.7 41.2

44.4 45.3 46.0 46.9

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

47.9 49.1 50.1 51.1

45.3 46.5 47.7 48.8

44.4 45.3 46.1 47.1

64.2 65.9 67.5 68.9

74.0 75.7 77.3 78.7

44.2 45.7 47.2 48.3

75.2 78.3 80.1 81.6

69.1 72.7 78.2 83.4

44.1 45.0 46.3 47.6

46.7 47.4 48.4 50.4

42.2 43.2 44.7 45.6

47.8 49.0 50.3 51.5

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

52.2 53.4 54.6 56.1

50.2 51.5 52.7 54.0

48.2 49.3 50.4 51.6

70.5 72.1 73.7 75.3

80.5 82.4 84.1 85.8

49.6 50.8 51.9 53.2

84.0 85.2 87.6 90.5

90.4 93.6 96.2 97.8

48.8 50.0 51.2 53.0

51.3 52.5 53.3 56.1

46.9 48.2 49.5 50.8

52.9 54.2 55.4 56.9

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

57.6 58.6 59.7 60.7

55.3 56.3 57.2 58.1

52.7 53.7 54.7 55.7

77.3 79.1 80.4 81.9

88.3 90.5 92.1 94.0

54.4 55.2 55.9 56.8

92.8 93.2 93.3 93.6

100.4 101.0 98.4 98.6

54.4 55.3 56.0 57.3

57.0 57.9 58.5 60.5

52.4 53.4 54.1 54.9

58.4 59.4 60.4 61.4

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

61.6 62.3 63.2 63.9

58.8 59.4 60.3 61.0

56.5 57.3 58.2 59.1

83.1 84.0 84.5 84.6

95.3 96.3 96.8 96.8

57.6 58.5 59.0 59.2

94.2 94.1 93.4 92.9

98.3 96.6 95.4 94.7

58.2 59.0 59.8 60.6

61.4 62.1 62.6 63.7

55.9 56.7 57.6 58.3

62.2 62.9 63.7 64.4

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

64.4 64.9 65.5 66.0

61.5 62.1 62.9 63.3

59.9 60.3 61.3 61.8

84.2 83.9 83.7 83.9

96.1 95.5 95.1 95.0

59.5 59.7 60.0 60.5

93.3 93.6 94.1 95.0

92.7 92.7 92.9 92.3

61.0 61.6 62.1 62.4

64.0 64.4 64.9 65.0

58.8 59.4 60.0 60.5

64.8 65.2 65.8 66.2

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

66.8 67.4 68.0 68.4

64.0 64.6 65.1 65.5

62.4 63.1 63.7 64.2

83.9 84.3 84.6 84.8

94.9 95.2 95.3 95.4

60.9 61.3 61.9 62.4

95.2 95.8 94.8 93.8

92.6 93.1 91.4 90.3

64.1 64.8 65.3 65.6

67.7 68.3 68.8 69.0

61.5 62.1 62.6 63.1

67.1 67.6 68.1 68.5

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

69.2 69.5 69.9 70.3

66.2 66.7 67.1 67.7

65.0 65.5 66.0 66.6

85.1 85.2 85.5 86.1

95.6 95.7 96.0 96.4

62.7 62.9 63.3 64.0

92.8 92.4 91.4 91.3

88.1 88.5 88.4 90.2

66.5 66.8 67.0 67.6

69.9 69.8 69.7 70.4

63.9 64.5 65.0 65.6

69.1 69.5 69.9 70.5

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

70.7 71.0 71.5 72.0

68.2 68.2 68.7 69.2

67.3 67.9 68.6 69.2

86.5 87.1 87.9 88.5

96.6 97.3 98.0 98.4

64.8 65.4 66.3 67.0

90.9 90.5 90.2 91.0

90.4 87.6 88.2 89.3

67.7 67.9 68.3 68.8

70.3 70.3 70.4 70.5

65.9 66.2 66.8 67.7

70.9 71.0 71.5 72.0

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

72.5 72.9 73.5 73.9

70.0 70.6 71.3 71.9

69.8 70.4 71.1 71.8

88.8 88.9 89.0 89.8

98.4 98.3 98.2 98.9

67.7 68.2 68.8 69.4

91.4 92.6 93.0 94.5

91.6 94.0 95.0 96.4

69.5 69.9 70.3 70.5

71.0 71.1 71.3 71.4

68.5 69.1 69.8 70.0

72.7 73.2 73.8 74.3

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

74.6 75.3 76.2 76.8

72.5 73.3 74.2 74.9

72.6 73.5 74.3 75.1

90.6 91.1 91.6 92.4

99.8 100.3 100.7 101.7

70.1 70.7 71.1 71.8

95.6 97.6 98.8 98.6

97.8 99.5 98.5 99.3

71.2 71.8 72.1 72.5

72.2 72.7 72.8 73.0

70.6 71.2 71.8 72.3

75.0 75.7 76.4 77.1

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

77.6 78.3 78.9 79.4

75.8 76.8 77.3 77.9

75.9 76.6 77.2 77.9

92.9 93.5 93.9 94.3

102.1 102.5 102.9 103.4

72.3 73.2 73.4 73.9

99.6 99.7 99.1 98.8

100.9 102.0 100.2 100.7

73.5 73.9 74.4 74.8

74.3 74.5 75.0 74.9

73.0 73.7 74.1 74.9

77.9 78.8 79.2 79.8

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

80.4 81.3 82.1 82.7

79.1 79.9 81.0 82.0

78.8 79.9 80.6 81.3

94.9 95.2 95.8 96.4

103.9 104.2 104.9 105.7

74.5 74.8 75.1 75.3

98.9 99.2 100.2 101.6

102.2 100.5 103.4 109.2

75.9 76.7 77.4 78.6

76.0 76.7 77.3 78.6

76.1 76.8 77.7 78.8

80.9 81.6 82.5 83.5

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

405

Table 19-5. Chain-Type Price Indexes for Gross Domestic Product and Domestic Purchases—Continued (Index numbers, 2000 = 100.)

NIPA Tables 1.1.4, 1.6.4, 2.3.4 Gross domestic product

Year and quarter

Gross domestic product, total

Personal consumption expenditures Total

Excluding food and energy

Private fixed investment

Total

Nonresidential

Exports and imports of goods and services

Residential

Exports

Imports

Government consumption expenditures and gross investment Total

Federal

Gross domestic purchases

State and local

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

83.7 84.2 84.8 85.2

82.6 83.1 83.7 84.3

82.2 82.9 83.6 84.4

97.1 97.1 97.0 96.7

106.7 106.5 106.2 105.9

75.5 75.8 76.3 76.0

102.0 101.4 100.8 101.0

105.9 103.1 101.8 102.9

79.3 79.4 80.0 80.4

79.7 79.8 80.4 81.0

79.2 79.4 79.9 80.2

84.2 84.5 85.1 85.6

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

85.8 86.2 86.6 87.0

85.0 85.5 86.1 86.7

85.2 85.8 86.4 87.0

96.5 96.6 96.7 96.9

105.7 105.4 105.3 105.2

75.8 76.5 77.0 78.0

100.9 100.9 101.0 100.8

102.4 103.0 104.6 104.2

81.0 81.6 82.0 82.2

81.9 82.5 83.0 82.9

80.6 81.2 81.5 81.9

86.1 86.6 87.1 87.5

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

87.7 88.2 88.6 89.0

87.1 87.7 88.0 88.4

87.5 88.2 88.6 89.0

97.4 97.7 98.0 98.1

105.5 105.5 105.5 105.5

78.9 79.7 80.4 80.8

100.8 101.1 100.9 100.8

102.6 103.4 102.5 102.2

83.1 83.6 84.0 84.5

83.9 84.4 85.2 85.6

82.7 83.2 83.4 83.8

88.1 88.6 88.9 89.3

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

89.6 90.0 90.5 91.0

88.8 89.3 90.1 90.5

89.5 90.1 90.8 91.2

98.6 99.0 99.3 99.6

105.8 106.1 106.2 106.0

81.7 82.2 83.0 84.1

101.3 101.6 102.3 102.9

101.7 103.0 104.7 105.2

85.2 85.8 86.2 86.8

86.2 87.1 87.1 87.8

84.8 85.1 85.7 86.3

89.8 90.3 90.9 91.3

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

91.6 91.9 92.3 92.7

90.9 91.4 91.8 92.2

91.7 92.2 92.6 93.1

100.0 100.3 100.4 100.4

106.1 106.4 106.4 106.2

85.2 85.6 85.9 86.4

104.0 104.8 104.6 104.1

105.6 107.5 106.7 105.8

87.7 88.1 88.4 89.2

88.8 89.0 89.3 90.9

87.2 87.7 88.0 88.3

91.9 92.3 92.7 93.1

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

93.3 93.6 94.1 94.5

92.8 93.4 93.7 94.4

93.5 93.9 94.3 94.8

100.1 99.8 100.1 100.1

105.6 104.9 104.9 104.7

86.7 87.1 88.1 88.5

103.9 103.5 102.8 101.8

105.4 105.0 103.8 104.0

90.3 90.0 90.5 91.1

92.2 91.5 91.8 92.4

89.3 89.3 89.9 90.4

93.6 93.9 94.3 94.8

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

95.0 95.3 95.5 95.9

94.8 95.0 95.2 95.5

95.1 95.6 95.8 96.1

99.9 99.8 99.8 99.6

104.2 103.9 103.6 103.1

89.0 89.4 90.2 90.8

101.5 101.5 101.2 100.8

102.8 100.8 100.2 99.5

91.8 91.9 92.1 92.7

93.3 93.4 93.5 94.0

91.1 91.1 91.4 92.1

95.2 95.3 95.5 95.8

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

96.1 96.3 96.6 96.9

95.6 95.8 96.1 96.4

96.4 96.7 97.0 97.4

99.1 98.8 98.8 98.7

102.2 101.6 101.1 100.7

91.1 91.7 92.6 93.5

99.8 99.2 98.5 98.2

96.7 95.7 94.5 94.5

93.0 93.2 93.6 94.1

94.3 94.4 94.6 94.8

92.3 92.6 93.2 93.7

95.8 95.9 96.1 96.4

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

97.3 97.7 98.0 98.5

96.7 97.3 97.9 98.4

97.7 98.2 98.5 99.0

98.9 98.9 98.8 98.9

100.6 100.2 99.7 99.6

94.4 95.4 96.3 97.0

98.0 98.1 98.3 98.8

94.0 95.3 96.6 97.9

94.8 95.6 96.5 97.4

96.1 96.6 97.1 97.8

94.2 95.2 96.1 97.2

96.8 97.3 97.8 98.4

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

99.3 99.8 100.2 100.7

99.3 99.8 100.2 100.7

99.6 99.9 100.1 100.5

99.5 99.8 100.3 100.5

99.8 99.8 100.2 100.2

98.7 99.6 100.4 101.3

99.5 100.0 100.2 100.3

99.3 99.5 100.5 100.7

99.0 99.4 100.5 101.1

99.5 99.2 100.4 100.8

98.7 99.5 100.5 101.3

99.3 99.7 100.3 100.7

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

101.5 102.3 102.7 103.1

101.5 102.1 102.3 102.4

101.2 101.7 102.1 102.7

100.4 100.9 101.4 101.4

99.6 99.7 99.8 99.6

102.6 103.9 105.6 106.4

100.3 100.0 99.5 98.6

99.9 98.4 97.1 94.6

101.9 102.4 102.8 103.1

101.3 101.6 102.1 102.6

102.2 102.8 103.1 103.3

101.4 102.0 102.2 102.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

103.6 103.9 104.3 104.9

102.7 103.4 103.8 104.3

103.0 103.5 104.0 104.3

101.3 101.5 101.5 102.3

99.5 99.5 99.4 99.6

106.2 106.7 107.1 109.0

98.4 99.0 99.8 99.9

94.1 96.5 97.3 97.4

104.4 105.1 105.8 106.7

105.1 105.2 105.5 106.7

104.0 105.1 105.9 106.7

102.8 103.4 103.8 104.4

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

105.7 106.0 106.5 107.0

105.1 105.2 105.7 106.1

104.6 104.9 105.3 105.6

103.1 102.9 103.4 104.4

99.7 99.4 99.7 100.2

111.4 111.5 112.3 114.3

100.9 101.2 101.4 102.1

100.1 98.9 99.6 99.9

109.0 109.0 109.7 110.1

109.2 109.6 109.9 110.2

108.9 108.7 109.6 110.0

105.4 105.5 106.0 106.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

108.0 109.0 109.4 110.1

107.1 108.1 108.5 109.3

106.3 107.0 107.4 108.0

105.3 106.4 107.2 107.8

100.5 101.0 101.2 101.5

116.6 119.3 121.3 122.6

103.6 104.8 105.2 106.4

102.2 103.8 105.3 107.0

111.8 113.1 114.0 115.1

112.8 114.2 114.8 115.6

111.1 112.5 113.5 114.9

107.6 108.7 109.2 110.1

406

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-6. Personal Income and Its Disposition (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.1

Personal income

Year and quarter Total

Equals: Personal saving

Compen- Proprietors’ Rental Personal sation of income income of income employees, with IVA persons receipts on received and CCAdj with CCAdj assets

Personal current transfer receipts

Less: Contributions for government social insurance

Less: Personal current taxes

Equals: Disposable personal income

Less: Personal outlays

Billions of dollars

Disposable personal income, Percent of billions of disposable chained personal (2000) income dollars

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

187.6 185.7 193.7 197.0

127.2 128.7 130.0 134.3

36.6 32.4 33.9 35.3

7.0 7.1 7.3 7.5

13.4 13.8 14.2 14.2

9.7 9.6 13.5 10.5

6.3 6.0 5.2 4.8

19.2 19.5 19.7 20.8

168.4 166.2 174.0 176.2

158.1 161.9 165.6 169.7

10.3 4.3 8.4 6.5

6.1 2.6 4.8 3.7

1 096.0 1 072.8 1 102.8 1 089.7

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

202.3 208.3 214.3 214.4

137.8 139.4 144.6 145.8

36.1 40.4 41.0 39.7

7.7 7.9 7.9 8.0

14.9 14.7 15.2 15.6

10.7 10.4 10.1 9.8

4.8 4.6 4.6 4.5

21.2 18.9 18.2 18.4

181.1 189.3 196.1 196.0

172.7 176.5 179.5 180.4

8.4 12.8 16.6 15.6

4.6 6.8 8.5 8.0

1 107.3 1 145.3 1 168.4 1 171.9

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

208.3 207.0 206.3 207.0

143.9 142.2 141.0 140.5

35.5 34.9 34.2 34.2

7.9 8.0 8.3 8.5

15.7 15.9 16.0 16.5

10.5 11.0 11.5 11.8

5.2 5.1 4.8 4.5

17.8 17.0 16.3 15.8

190.5 190.0 190.0 191.2

179.2 181.0 180.4 183.0

11.3 9.0 9.6 8.2

5.9 4.7 5.0 4.3

1 147.6 1 151.4 1 158.1 1 165.7

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

221.6 222.4 231.3 240.7

144.6 150.6 159.0 166.8

35.7 36.3 38.8 39.5

8.8 9.0 9.2 9.5

17.7 18.0 19.0 19.6

20.2 13.8 10.8 11.1

5.3 5.3 5.5 5.8

16.6 17.6 18.9 22.5

205.0 204.8 212.4 218.2

185.7 189.7 203.6 201.1

19.3 15.1 8.8 17.1

9.4 7.4 4.1 7.8

1 252.8 1 245.4 1 264.8 1 277.4

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

249.6 256.9 260.1 265.5

174.8 180.7 183.0 187.0

42.1 42.5 42.7 43.6

9.7 10.0 10.3 10.5

18.6 19.1 19.2 19.5

11.1 11.4 11.6 11.6

6.6 6.7 6.6 6.7

24.4 26.4 27.8 29.6

225.2 230.6 232.4 235.8

212.4 208.1 210.8 214.8

12.8 22.5 21.6 21.1

5.7 9.8 9.3 8.9

1 276.9 1 297.5 1 305.9 1 308.5

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

267.5 271.4 278.2 284.3

191.3 192.7 196.6 204.1

41.9 43.1 44.9 42.7

10.8 11.1 11.4 11.7

19.1 19.8 20.0 20.5

11.4 11.5 12.3 12.3

6.9 6.8 6.9 7.1

30.9 31.8 32.3 33.1

236.7 239.6 246.0 251.2

216.2 220.5 223.2 231.5

20.4 19.1 22.8 19.7

8.6 8.0 9.3 7.8

1 308.1 1 323.9 1 349.7 1 376.0

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

289.0 293.0 293.1 292.4

208.0 211.4 211.6 210.1

43.1 42.4 41.7 41.4

12.0 12.3 12.6 12.9

20.6 21.7 21.9 22.1

12.4 12.3 12.5 12.9

7.1 7.1 7.2 7.1

33.4 33.4 33.2 32.9

255.6 259.6 259.9 259.4

235.3 237.3 238.2 237.7

20.3 22.2 21.8 21.7

7.9 8.6 8.4 8.4

1 395.0 1 414.5 1 408.7 1 399.8

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

292.4 291.9 294.0 299.4

208.1 207.7 208.3 212.6

42.7 42.0 42.4 42.2

13.2 13.4 13.6 13.7

23.0 22.7 23.4 23.9

13.5 14.1 14.5 15.2

8.1 8.0 8.1 8.1

30.2 30.0 30.0 30.5

262.2 262.0 264.0 269.0

239.7 242.5 245.2 249.9

22.5 19.5 18.8 19.1

8.6 7.4 7.1 7.1

1 407.5 1 407.4 1 422.7 1 450.6

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

305.3 313.2 320.5 325.5

216.9 223.1 229.1 233.6

43.5 44.5 44.7 44.5

13.8 13.8 13.9 14.0

24.7 25.2 26.1 26.7

15.3 15.6 15.9 16.0

8.9 9.0 9.2 9.3

31.4 32.4 33.4 34.2

273.9 280.7 287.2 291.3

256.3 261.6 266.1 270.3

17.5 19.1 21.1 21.0

6.4 6.8 7.3 7.2

1 471.9 1 506.9 1 535.3 1 552.7

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

330.9 336.7 341.6 349.2

238.0 242.6 245.7 251.6

44.9 45.4 46.2 46.9

14.1 14.1 14.2 14.3

27.4 27.9 28.3 29.2

16.3 16.6 17.1 17.3

9.9 10.0 10.0 10.1

35.4 36.2 36.9 37.9

295.5 300.4 304.7 311.3

272.1 274.9 278.2 283.7

23.4 25.5 26.5 27.7

7.9 8.5 8.7 8.9

1 568.4 1 583.9 1 590.6 1 615.9

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

353.3 357.8 362.1 361.5

255.3 257.0 259.7 258.1

47.0 47.8 48.7 47.9

14.4 14.5 14.6 14.9

29.8 30.5 31.0 31.1

18.2 19.4 19.6 20.8

11.4 11.4 11.5 11.3

38.6 39.0 39.2 38.8

314.7 318.9 322.9 322.7

288.3 290.6 295.3 297.0

26.5 28.2 27.7 25.8

8.4 8.9 8.6 8.0

1 618.9 1 629.5 1 637.5 1 628.2

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

362.0 364.3 372.6 377.2

254.6 254.2 262.2 267.2

50.2 50.3 50.0 50.1

15.2 15.3 15.5 15.6

31.3 31.8 32.1 32.2

22.1 23.9 24.2 23.7

11.3 11.3 11.4 11.5

38.2 37.7 38.9 39.4

323.8 326.6 333.6 337.8

296.6 299.4 304.4 308.3

27.3 27.2 29.2 29.5

8.4 8.3 8.8 8.7

1 613.2 1 623.7 1 656.8 1 677.1

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

383.8 392.4 394.6 400.3

274.5 281.6 282.3 285.5

50.4 50.7 50.5 50.9

15.6 16.0 16.4 16.7

33.0 34.0 35.1 36.3

24.0 23.9 24.2 24.8

13.7 13.9 13.9 13.9

40.8 42.0 42.7 43.7

343.0 350.5 352.0 356.6

315.9 322.1 327.6 329.9

27.1 28.4 24.4 26.7

7.9 8.1 6.9 7.5

1 688.6 1 721.0 1 719.5 1 733.2

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

406.7 411.2 413.4 414.7

294.0 296.9 297.6 297.1

50.2 50.9 50.9 51.2

16.9 17.0 17.2 17.4

37.4 37.5 38.1 38.5

24.6 25.3 26.0 27.0

16.4 16.5 16.5 16.4

45.3 46.0 46.5 46.4

361.4 365.2 366.9 368.3

333.6 339.7 339.8 342.0

27.8 25.5 27.0 26.3

7.7 7.0 7.4 7.1

1 753.2 1 761.8 1 762.8 1 761.2

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

418.8 424.8 431.8 440.6

298.0 302.2 307.2 313.8

52.4 52.6 53.4 54.6

17.6 17.8 18.0 18.2

38.7 39.5 40.5 41.9

28.8 29.7 29.9 29.4

16.7 16.9 17.1 17.3

46.5 46.9 47.4 48.1

372.3 377.9 384.4 392.5

342.6 347.5 350.5 357.9

29.8 30.4 33.9 34.5

8.0 8.0 8.8 8.8

1 777.6 1 804.6 1 829.2 1 865.4

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES Table 19-6. Personal Income and Its Disposition—Continued (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.1

Personal income

Year and quarter Total

Equals: Personal saving

Compen- Proprietors’ Rental Personal sation of income income of income employees, with IVA persons receipts on received and CCAdj with CCAdj assets

Personal current transfer receipts

Less: Contributions for government social insurance

Less: Personal current taxes

Equals: Disposable personal income

Less: Personal outlays

Billions of dollars

Disposable personal income, Percent of billions of disposable chained personal (2000) income dollars

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

447.4 454.8 459.4 465.2

320.4 326.4 329.2 332.6

55.4 55.2 55.2 55.7

18.5 18.7 18.9 19.1

42.0 43.6 44.9 45.9

30.0 30.0 30.4 31.2

18.9 19.1 19.2 19.3

49.4 50.9 52.3 53.6

398.0 403.8 407.1 411.6

363.3 369.1 373.2 379.7

34.7 34.7 33.9 31.9

8.7 8.6 8.3 7.8

1 883.4 1 904.1 1 914.7 1 930.4

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

470.2 475.0 482.0 491.3

337.5 342.4 347.4 353.6

56.0 55.8 56.3 57.7

19.3 19.5 19.6 19.6

46.1 47.1 48.4 49.9

32.6 31.7 32.0 32.5

21.3 21.5 21.8 22.0

54.1 54.3 54.6 55.2

416.1 420.7 427.4 436.1

383.6 387.9 395.3 400.3

32.6 32.7 32.1 35.8

7.8 7.8 7.5 8.2

1 946.0 1 964.3 1 986.4 2 019.6

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

500.8 510.0 519.4 528.1

360.0 367.4 374.6 380.8

58.1 59.0 59.6 60.8

19.6 19.6 19.7 19.6

51.5 53.1 54.6 55.8

33.6 33.2 33.5 33.7

22.0 22.3 22.5 22.7

53.8 49.7 51.6 53.2

447.1 460.3 467.8 474.8

410.1 418.4 427.7 430.5

37.0 41.9 40.1 44.4

8.3 9.1 8.6 9.3

2 060.6 2 116.8 2 144.6 2 169.4

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

538.6 547.8 561.7 574.8

387.3 394.1 402.3 414.3

62.2 63.4 64.2 65.9

19.9 20.1 20.3 20.3

57.1 58.8 60.3 61.4

35.0 34.6 38.1 36.9

22.9 23.2 23.6 24.0

57.0 58.4 57.0 58.3

481.7 489.4 504.7 516.5

441.3 448.7 458.1 472.2

40.4 40.7 46.6 44.3

8.4 8.3 9.2 8.6

2 193.3 2 217.4 2 278.4 2 324.3

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

586.9 596.5 609.6 622.8

426.7 437.8 449.0 457.2

69.4 67.4 67.6 68.3

20.7 20.6 20.9 20.9

62.6 63.6 64.5 65.5

37.8 37.9 39.6 43.1

30.4 30.8 31.9 32.2

61.5 65.6 67.9 70.6

525.3 530.9 541.7 552.2

482.8 488.3 497.6 503.6

42.5 42.6 44.1 48.5

8.1 8.0 8.1 8.8

2 345.9 2 351.7 2 381.3 2 408.6

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

633.3 640.4 654.1 665.4

463.3 469.0 478.7 489.7

69.1 68.9 71.0 70.5

21.1 21.2 21.2 21.1

67.5 68.7 69.8 70.1

46.1 47.2 48.7 50.0

33.6 34.6 35.2 36.0

71.2 70.9 73.8 75.9

562.2 569.5 580.3 589.5

508.2 517.9 524.9 532.6

53.9 51.6 55.3 57.0

9.6 9.1 9.5 9.7

2 445.0 2 464.5 2 488.1 2 506.1

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

684.7 704.2 722.0 737.2

504.5 517.6 531.4 543.8

72.2 73.6 75.4 76.0

20.9 20.9 21.0 20.8

72.4 74.7 76.0 77.6

52.4 55.9 57.3 58.7

37.6 38.4 39.1 39.7

78.6 81.7 91.9 95.9

606.2 622.5 630.2 641.3

550.9 565.1 581.9 591.2

55.3 57.4 48.3 50.2

9.1 9.2 7.7 7.8

2 549.8 2 592.3 2 597.1 2 613.7

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

751.2 769.2 789.5 804.0

555.9 569.8 586.6 598.2

76.2 77.4 78.1 77.9

21.1 21.1 21.3 21.2

80.5 83.0 85.3 87.7

60.4 61.5 62.9 64.3

42.9 43.7 44.6 45.3

102.6 105.7 104.1 105.6

648.6 663.5 685.4 698.4

603.9 616.0 626.7 639.2

44.7 47.5 58.7 59.2

6.9 7.2 8.6 8.5

2 617.5 2 643.5 2 696.6 2 716.1

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

814.7 836.1 848.2 856.1

606.1 616.3 622.5 623.9

77.6 77.1 79.1 79.7

21.2 20.9 21.5 21.8

89.6 91.9 95.4 97.1

66.1 76.1 76.3 80.1

46.0 46.3 46.7 46.5

104.6 105.5 100.7 101.5

710.1 730.5 747.5 754.6

650.7 660.9 673.2 680.2

59.4 69.6 74.4 74.5

8.4 9.5 10.0 9.9

2 729.4 2 777.4 2 814.6 2 804.4

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

876.1 898.6 911.3 928.0

641.6 653.5 663.5 674.8

81.8 83.9 85.2 88.3

21.7 22.3 22.7 23.1

99.5 100.3 101.7 102.4

82.0 89.6 89.6 91.3

50.5 51.0 51.3 51.9

98.3 100.7 102.3 105.5

777.8 797.9 809.0 822.5

699.6 714.1 727.1 743.9

78.2 83.7 81.9 78.5

10.1 10.5 10.1 9.5

2 863.6 2 904.6 2 916.4 2 946.8

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

956.1 972.3 998.6 1 043.8

702.6 716.2 729.9 751.9

88.5 91.8 96.5 106.7

23.7 20.7 24.6 24.6

105.2 107.6 111.1 114.6

94.3 94.9 96.0 106.4

58.1 58.8 59.5 60.4

119.8 123.4 124.3 127.1

836.4 848.9 874.3 916.7

761.8 780.9 799.8 825.0

74.6 68.0 74.5 91.6

8.9 8.0 8.5 10.0

2 965.0 2 991.5 3 053.6 3 175.0

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 064.8 1 094.6 1 122.6 1 161.0

781.6 801.1 819.9 842.5

106.0 111.1 114.4 122.4

24.5 24.5 23.5 24.5

117.2 121.1 127.6 132.6

109.1 111.5 113.3 116.5

73.6 74.7 76.1 77.6

126.4 129.2 134.1 140.0

938.4 965.4 988.5 1 021.0

849.9 866.0 884.9 901.6

88.5 99.4 103.6 119.4

9.4 10.3 10.5 11.7

3 210.5 3 240.3 3 258.3 3 297.6

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 177.8 1 203.9 1 241.8 1 267.1

860.7 881.9 904.6 915.7

115.9 108.8 112.9 114.7

24.7 24.0 24.4 24.2

137.7 144.0 149.1 154.7

121.9 129.9 137.1 144.3

83.1 84.7 86.4 86.6

142.8 148.9 154.9 157.6

1 035.0 1 055.0 1 086.9 1 109.5

918.7 947.8 977.4 987.9

116.3 107.2 109.4 121.5

11.2 10.2 10.1 11.0

3 246.6 3 219.9 3 231.1 3 217.3

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 284.0 1 314.2 1 351.9 1 390.1

919.4 931.7 957.6 987.5

113.2 115.4 122.4 126.9

24.1 23.8 23.7 23.2

159.0 159.9 163.1 166.7

155.9 171.5 174.8 177.6

87.6 88.0 89.8 91.8

158.0 121.1 152.8 158.5

1 126.0 1 193.2 1 199.1 1 231.5

1 015.5 1 044.5 1 079.1 1 108.3

110.5 148.6 120.0 123.2

9.8 12.5 10.0 10.0

3 205.7 3 354.6 3 309.1 3 342.0

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 425.6 1 453.5 1 491.5 1 528.5

1 022.3 1 046.0 1 070.7 1 098.0

127.6 129.9 133.7 137.4

22.9 21.9 22.1 22.2

170.4 176.3 180.8 186.2

181.4 179.7 186.4 188.5

98.9 100.4 102.2 103.8

162.1 169.0 175.8 182.4

1 263.5 1 284.5 1 315.8 1 346.1

1 141.8 1 161.6 1 191.4 1 225.9

121.7 122.9 124.4 120.2

9.6 9.6 9.5 8.9

3 390.9 3 417.5 3 448.0 3 473.0

407

408

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-6. Personal Income and Its Disposition—Continued (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.1

Personal income

Year and quarter Total

Equals: Personal saving

Compen- Proprietors’ Rental Personal sation of income income of income employees, with IVA persons receipts on received and CCAdj with CCAdj assets

Personal current transfer receipts

Less: Contributions for government social insurance

Less: Personal current taxes

Equals: Disposable personal income

Less: Personal outlays

Billions of dollars

Disposable personal income, Percent of billions of disposable chained personal (2000) income dollars

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 561.0 1 606.6 1 652.4 1 712.8

1 126.9 1 164.3 1 196.8 1 233.7

140.4 141.6 143.3 157.5

22.2 20.6 20.0 19.8

190.2 201.0 210.5 219.5

190.6 191.1 196.2 199.0

109.3 112.1 114.3 116.7

188.4 195.3 198.2 208.1

1 372.5 1 411.3 1 454.3 1 504.6

1 262.7 1 291.8 1 323.9 1 363.2

109.8 119.5 130.3 141.4

8.0 8.5 9.0 9.4

3 479.7 3 517.4 3 570.6 3 642.1

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 750.7 1 811.9 1 866.5 1 921.7

1 269.6 1 318.3 1 355.2 1 400.2

157.8 167.3 170.4 171.2

21.4 20.9 22.7 23.3

224.9 230.6 237.4 246.2

203.1 204.9 213.6 216.9

126.2 130.1 132.8 136.0

211.7 222.8 236.0 247.0

1 538.9 1 589.0 1 630.5 1 674.8

1 394.9 1 454.2 1 486.7 1 527.3

144.0 134.8 143.8 147.5

9.4 8.5 8.8 8.8

3 663.5 3 706.3 3 737.6 3 768.3

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 979.1 2 021.9 2 088.5 2 159.2

1 445.2 1 478.4 1 519.0 1 561.2

178.2 178.2 181.3 182.7

25.0 22.1 21.8 26.3

257.1 267.0 277.7 297.2

222.5 227.1 242.7 248.9

148.8 150.9 154.2 157.1

253.4 261.8 274.6 285.0

1 725.8 1 760.2 1 813.9 1 874.2

1 563.8 1 605.5 1 661.3 1 706.8

162.0 154.6 152.6 167.4

9.4 8.8 8.4 8.9

3 811.7 3 785.2 3 807.2 3 841.5

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 228.2 2 246.8 2 322.8 2 433.7

1 602.7 1 625.1 1 657.4 1 722.1

176.1 161.0 173.5 185.9

29.8 25.4 26.6 38.2

324.0 334.6 336.0 360.1

258.7 263.9 295.9 299.3

163.1 163.2 166.6 171.8

284.2 291.6 301.6 318.2

1 944.0 1 955.2 2 021.2 2 115.5

1 759.2 1 761.2 1 819.7 1 890.1

184.9 194.0 201.6 225.4

9.5 9.9 10.0 10.7

3 869.4 3 800.0 3 839.0 3 920.8

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 492.2 2 544.9 2 645.9 2 682.1

1 774.5 1 808.0 1 846.2 1 874.2

188.5 179.6 186.3 177.4

36.7 36.5 37.8 41.0

378.2 405.6 445.5 458.5

305.9 309.3 327.9 330.4

191.6 194.1 197.7 199.4

330.3 342.1 356.3 352.1

2 161.9 2 202.8 2 289.6 2 330.1

1 950.2 1 984.6 2 027.5 2 044.9

211.6 218.3 262.2 285.1

9.8 9.9 11.5 12.2

3 905.7 3 915.0 4 003.1 4 012.8

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 711.6 2 758.2 2 796.7 2 834.7

1 898.0 1 917.2 1 937.0 1 951.1

170.2 175.1 176.1 183.9

40.1 37.6 39.6 38.0

474.7 491.7 492.3 494.7

335.7 344.9 361.5 377.3

207.2 208.4 209.8 210.2

351.9 359.1 349.5 356.0

2 359.7 2 399.1 2 447.2 2 478.7

2 086.6 2 116.4 2 167.1 2 231.5

273.1 282.7 280.1 247.2

11.6 11.8 11.4 10.0

4 013.3 4 041.9 4 059.3 4 066.2

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2 871.5 2 923.3 2 980.0 3 068.0

1 979.2 2 018.5 2 059.9 2 114.6

188.0 189.4 190.2 202.4

38.0 38.3 35.8 39.0

506.4 514.4 539.3 558.2

380.2 386.4 381.9 386.5

220.4 223.6 227.2 232.6

350.3 359.0 344.9 355.1

2 521.2 2 564.3 2 635.1 2 712.9

2 274.0 2 341.0 2 414.5 2 469.6

247.2 223.3 220.6 243.3

9.8 8.7 8.4 9.0

4 100.4 4 132.7 4 191.6 4 286.5

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 166.0 3 255.3 3 338.6 3 397.9

2 184.6 2 235.2 2 281.5 2 320.3

231.6 245.9 248.7 247.1

37.8 36.3 40.8 45.8

569.7 596.0 627.1 638.9

393.4 397.8 400.5 408.9

251.0 255.8 259.9 263.1

360.7 370.0 383.6 395.5

2 805.3 2 885.4 2 955.0 3 002.4

2 517.2 2 578.9 2 620.5 2 672.5

288.2 306.5 334.5 330.0

10.3 10.6 11.3 11.0

4 385.5 4 467.0 4 539.8 4 583.9

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 464.0 3 505.6 3 536.5 3 600.6

2 366.0 2 403.3 2 441.1 2 489.2

263.3 261.2 261.1 263.6

44.1 43.3 41.0 39.3

646.4 654.5 648.6 666.6

419.6 422.1 427.5 430.4

275.4 278.8 282.8 288.4

431.8 388.1 421.1 428.5

3 032.2 3 117.5 3 115.4 3 172.2

2 748.5 2 798.6 2 869.7 2 900.4

283.7 318.9 245.7 271.8

9.4 10.2 7.9 8.6

4 580.0 4 673.4 4 640.4 4 688.0

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 659.1 3 698.0 3 746.2 3 786.2

2 522.7 2 545.3 2 581.4 2 631.1

264.5 271.3 283.9 282.9

38.3 36.2 31.7 27.9

688.9 697.5 698.7 697.1

442.7 448.5 455.4 457.3

297.9 300.7 305.1 310.1

425.8 428.9 438.9 455.5

3 233.4 3 269.1 3 307.2 3 330.7

2 945.6 2 978.6 3 050.8 3 091.8

287.7 290.5 256.4 238.9

8.9 8.9 7.8 7.2

4 744.2 4 793.8 4 813.6 4 813.4

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3 847.3 3 900.6 3 973.0 4 068.6

2 678.6 2 721.1 2 767.3 2 833.9

291.7 298.5 304.7 313.9

31.7 29.3 34.7 38.1

699.3 704.3 722.1 742.3

462.5 467.6 468.7 471.7

316.5 320.2 324.5 331.2

450.3 511.2 488.5 506.5

3 397.1 3 389.4 3 484.5 3 562.1

3 124.0 3 191.3 3 258.9 3 293.4

273.0 198.1 225.6 268.7

8.0 5.8 6.5 7.5

4 854.6 4 802.3 4 887.3 4 954.1

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 139.6 4 208.2 4 292.6 4 374.5

2 883.1 2 945.5 2 994.2 3 045.9

333.4 339.5 350.2 343.2

39.1 37.2 38.4 47.6

747.1 752.5 775.3 802.1

489.0 492.6 498.8 506.0

352.1 359.1 364.4 370.3

501.1 496.9 505.7 516.3

3 638.5 3 711.3 3 786.9 3 858.2

3 376.1 3 437.6 3 506.8 3 582.7

262.4 273.7 280.0 275.5

7.2 7.4 7.4 7.1

5 016.9 5 061.3 5 103.3 5 149.2

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 506.2 4 558.5 4 608.8 4 677.8

3 092.8 3 122.1 3 158.3 3 207.7

367.0 360.1 359.0 367.0

46.1 46.5 41.5 38.3

849.9 875.1 888.3 898.6

530.2 537.6 548.0 557.9

379.8 382.8 386.4 391.8

551.3 565.1 570.0 578.2

3 954.9 3 993.4 4 038.8 4 099.5

3 640.9 3 708.1 3 769.0 3 820.1

314.0 285.3 269.7 279.5

7.9 7.1 6.7 6.8

5 216.3 5 199.1 5 224.9 5 259.9

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 778.8 4 860.8 4 924.5 4 950.2

3 272.8 3 330.5 3 370.2 3 379.2

376.4 379.7 385.1 381.1

44.5 47.7 54.0 56.4

911.4 922.3 930.9 931.3

577.8 588.8 598.4 616.1

404.1 408.3 414.1 413.9

580.6 592.7 598.8 598.9

4 198.2 4 268.1 4 325.7 4 351.3

3 905.6 3 960.9 4 027.8 4 051.3

292.6 307.2 297.8 300.0

7.0 7.2 6.9 6.9

5 307.9 5 338.7 5 343.6 5 306.6

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES Table 19-6. Personal Income and Its Disposition—Continued (Billions of current dollars, except as noted; quarterly data are at seasonally adjusted annual rates.)

NIPA Table 2.1

Personal income

Year and quarter Total

Equals: Personal saving

Compen- Proprietors’ Rental Personal sation of income income of income employees, with IVA persons receipts on received and CCAdj with CCAdj assets

Personal current transfer receipts

Less: Contributions for government social insurance

Less: Personal current taxes

Equals: Disposable personal income

Less: Personal outlays

Billions of dollars

Disposable personal income, Percent of billions of disposable chained personal (2000) income dollars

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4 965.7 5 025.5 5 071.7 5 140.9

3 394.4 3 426.9 3 461.5 3 498.5

367.9 374.2 377.2 389.2

55.9 58.3 61.6 65.3

932.0 934.1 935.0 927.0

640.0 659.8 669.1 696.9

424.5 427.7 432.6 435.9

578.5 583.7 588.0 596.4

4 387.1 4 441.8 4 483.7 4 544.5

4 066.7 4 124.1 4 170.0 4 199.8

320.4 317.7 313.7 344.7

7.3 7.2 7.0 7.6

5 310.5 5 347.1 5 359.6 5 389.4

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 238.0 5 321.0 5 382.5 5 506.5

3 566.8 3 617.0 3 659.9 3 761.0

409.5 425.3 432.4 443.1

71.6 79.8 70.8 89.9

914.1 909.3 907.2 912.7

724.8 743.2 769.9 759.4

448.7 453.7 457.8 459.6

586.6 604.9 613.9 636.9

4 651.4 4 716.1 4 768.6 4 869.6

4 292.0 4 342.3 4 418.5 4 488.7

359.4 373.8 350.1 380.9

7.7 7.9 7.3 7.8

5 473.9 5 514.6 5 537.4 5 619.2

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 419.5 5 542.3 5 579.6 5 692.8

3 666.6 3 780.5 3 821.2 3 911.4

444.6 456.3 448.9 465.5

90.9 95.3 94.3 101.7

907.7 903.8 897.5 898.4

777.8 782.3 797.8 802.4

468.1 475.9 480.1 486.6

617.9 641.2 655.3 672.1

4 801.6 4 901.1 4 924.3 5 020.8

4 529.2 4 596.9 4 659.8 4 725.7

272.4 304.3 264.5 295.1

5.7 6.2 5.4 5.9

5 512.1 5 590.2 5 597.4 5 677.2

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5 668.9 5 813.7 5 891.0 5 996.5

3 873.2 3 973.4 4 009.0 4 062.8

460.9 475.1 475.9 481.3

105.7 120.9 126.2 125.9

905.2 931.0 967.1 999.8

822.6 819.6 823.3 843.8

498.7 506.5 510.5 517.1

670.2 695.6 693.5 703.4

4 998.7 5 118.1 5 197.5 5 293.1

4 795.4 4 859.3 4 941.2 5 013.7

203.3 258.8 256.3 279.4

4.1 5.1 4.9 5.3

5 629.9 5 733.1 5 770.8 5 850.9

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 072.3 6 119.2 6 174.6 6 243.0

4 118.6 4 153.2 4 197.5 4 238.7

483.1 484.9 493.9 506.7

122.6 122.3 119.6 124.1

1 006.7 1 012.2 1 014.7 1 032.0

867.2 876.8 884.1 881.6

525.9 530.1 535.2 540.0

721.4 742.9 747.5 764.4

5 350.9 5 376.3 5 427.1 5 478.6

5 048.1 5 123.3 5 196.8 5 260.9

302.9 253.0 230.3 217.6

5.7 4.7 4.2 4.0

5 886.4 5 881.7 5 912.1 5 943.3

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 371.1 6 490.5 6 566.0 6 654.6

4 291.7 4 359.0 4 419.1 4 477.8

526.0 547.9 545.5 553.4

131.1 130.7 132.1 132.0

1 056.1 1 073.2 1 100.2 1 127.4

910.7 931.9 928.0 929.4

544.4 552.2 558.9 565.3

796.6 833.9 838.5 859.4

5 574.5 5 656.6 5 727.5 5 795.3

5 338.0 5 433.6 5 492.6 5 576.0

236.5 223.0 234.9 219.2

4.2 3.9 4.1 3.8

6 010.0 6 059.8 6 111.3 6 142.5

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6 773.1 6 847.0 6 956.7 7 083.7

4 556.4 4 617.9 4 693.4 4 790.8

569.6 566.8 579.9 587.9

130.0 129.5 128.2 127.4

1 146.7 1 168.7 1 192.4 1 219.0

946.2 946.4 952.9 959.4

575.8 582.2 590.0 600.7

895.7 910.4 935.9 963.3

5 877.4 5 936.7 6 020.8 6 120.5

5 663.7 5 706.0 5 816.1 5 896.2

213.7 230.6 204.7 224.3

3.6 3.9 3.4 3.7

6 201.3 6 251.9 6 323.3 6 406.6

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 247.1 7 376.0 7 485.8 7 583.0

4 894.1 4 977.6 5 062.2 5 146.4

606.2 619.2 632.6 653.3

131.0 135.7 141.6 141.6

1 257.6 1 287.6 1 298.8 1 288.8

969.7 975.8 979.1 989.8

611.5 619.9 628.5 636.8

991.2 1 018.3 1 037.7 1 061.0

6 255.9 6 357.7 6 448.1 6 522.1

5 964.2 6 072.3 6 167.6 6 272.5

291.7 285.4 280.5 249.6

4.7 4.5 4.3 3.8

6 543.4 6 638.6 6 710.9 6 763.0

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7 658.4 7 728.8 7 823.7 7 998.8

5 242.8 5 297.3 5 371.2 5 496.5

664.3 672.0 680.6 696.1

145.2 147.6 144.5 152.1

1 249.4 1 255.4 1 262.3 1 289.7

1 009.5 1 013.3 1 027.4 1 038.1

652.8 656.8 662.4 673.8

1 071.7 1 090.2 1 115.5 1 152.5

6 586.7 6 638.6 6 708.2 6 846.2

6 346.3 6 489.5 6 593.2 6 716.6

240.4 149.1 115.0 129.7

3.6 2.2 1.7 1.9

6 812.9 6 822.1 6 856.0 6 955.6

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 266.2 8 372.3 8 514.4 8 565.8

5 694.1 5 727.2 5 837.4 5 871.9

709.3 726.5 735.6 742.1

153.8 148.5 148.2 150.5

1 349.9 1 385.6 1 406.2 1 406.5

1 054.6 1 080.8 1 094.8 1 106.0

695.5 696.3 707.7 711.2

1 207.0 1 231.1 1 248.0 1 256.6

7 059.2 7 141.2 7 266.4 7 309.3

6 888.0 6 970.0 7 076.3 7 168.1

171.2 171.3 190.1 141.2

2.4 2.4 2.6 1.9

7 109.7 7 157.5 7 249.3 7 259.6

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 688.7 8 719.9 8 733.1 8 754.8

5 946.2 5 944.6 5 939.3 5 938.3

769.4 770.6 773.4 774.2

155.3 161.7 176.4 176.2

1 397.4 1 388.7 1 373.3 1 360.3

1 149.6 1 185.7 1 202.6 1 237.8

729.2 731.5 731.9 731.9

1 296.6 1 312.3 1 110.3 1 230.0

7 392.1 7 407.6 7 622.8 7 524.8

7 253.5 7 318.8 7 361.2 7 484.4

138.6 88.7 261.6 40.5

1.9 1.2 3.4 0.5

7 283.0 7 252.1 7 452.2 7 346.0

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

8 814.7 8 892.0 8 895.4 8 925.5

6 025.3 6 091.5 6 114.5 6 133.4

763.0 763.5 769.1 778.1

172.1 167.7 142.9 129.2

1 340.6 1 336.5 1 327.4 1 328.5

1 260.9 1 284.0 1 292.7 1 307.1

747.1 751.1 751.1 750.9

1 063.2 1 050.3 1 050.0 1 043.8

7 751.5 7 841.7 7 845.4 7 881.7

7 526.1 7 620.5 7 692.4 7 742.4

225.4 221.2 153.0 139.3

2.9 2.8 2.0 1.8

7 549.9 7 585.2 7 555.5 7 559.3

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 013.7 9 118.6 9 215.4 9 328.7

6 209.0 6 288.0 6 360.1 6 427.4

778.3 801.4 821.1 840.0

137.7 125.4 120.4 143.2

1 334.6 1 340.5 1 337.6 1 342.1

1 319.8 1 336.9 1 356.8 1 362.3

765.8 773.6 780.7 786.3

1 024.3 1 026.9 940.8 1 007.6

7 989.4 8 091.7 8 274.6 8 321.0

7 835.4 7 922.1 8 069.5 8 158.4

154.0 169.6 205.1 162.6

1.9 2.1 2.5 2.0

7 605.5 7 690.5 7 826.2 7 844.8

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

9 484.8 9 614.3 9 729.2 10 024.8

6 526.7 6 603.6 6 724.2 6 895.8

870.2 898.4 889.1 900.9

144.2 141.8 122.1 128.7

1 350.4 1 363.9 1 378.2 1 493.6

1 399.6 1 419.8 1 441.5 1 449.2

806.3 813.0 825.9 843.5

1 009.6 1 034.0 1 058.4 1 094.3

8 475.3 8 580.3 8 670.9 8 930.4

8 319.4 8 439.1 8 566.3 8 725.0

155.8 141.2 104.6 205.4

1.8 1.6 1.2 2.3

7 915.1 7 938.8 7 993.3 8 169.2

409

410

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-7. Inventories to Sales Ratios (Seasonally adjusted, ratio of inventories at end of quarter to monthly rate of sales during the quarter, annual data are for fourth quarter.) NIPA Tables 5.7.5A, 5.7.5B, 5.7.6A, 5.7.6B Total private inventories to final sales of domestic business

Nonfarm inventories to:

Year and quarter

Final sales of domestic business Current dollars

Chained (2000) dollars

Current dollars

Final sales of goods and structures

Chained (2000) dollars

Current dollars

Chained (2000) dollars

1947 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.81 5.77 5.89 6.16

3.73 3.70 3.62 3.60

2.78 2.78 2.72 2.77

2.21 2.21 2.17 2.19

3.43 3.42 3.34 3.38

3.38 3.38 3.33 3.34

1948 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.87 5.89 5.75 5.62

3.62 3.67 3.74 3.77

2.83 2.86 2.93 2.96

2.22 2.24 2.28 2.30

3.45 3.49 3.59 3.63

3.37 3.42 3.49 3.51

1949 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.54 5.27 5.28 5.12

3.76 3.68 3.67 3.60

2.93 2.79 2.78 2.73

2.30 2.24 2.23 2.17

3.61 3.44 3.43 3.36

3.52 3.42 3.40 3.30

1950 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.15 5.17 5.11 5.70

3.56 3.49 3.34 3.53

2.72 2.71 2.69 3.00

2.16 2.14 2.07 2.24

3.36 3.33 3.27 3.68

3.27 3.24 3.10 3.39

1951 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.84 5.88 5.79 5.76

3.55 3.67 3.65 3.62

3.08 3.21 3.16 3.11

2.27 2.39 2.40 2.40

3.73 3.93 3.87 3.78

3.42 3.64 3.64 3.61

1952 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

5.68 5.54 5.54 5.16

3.66 3.62 3.71 3.61

3.13 3.04 3.11 3.02

2.43 2.38 2.45 2.39

3.81 3.72 3.82 3.69

3.66 3.60 3.71 3.59

1953 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.99 4.92 4.92 4.96

3.56 3.57 3.59 3.61

2.99 3.02 3.06 3.04

2.36 2.38 2.39 2.39

3.65 3.71 3.76 3.75

3.54 3.57 3.59 3.59

1954 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.95 4.84 4.78 4.67

3.59 3.54 3.47 3.40

3.01 2.95 2.90 2.85

2.37 2.32 2.27 2.23

3.72 3.65 3.61 3.54

3.57 3.50 3.43 3.35

1955 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.61 4.50 4.41 4.36

3.34 3.33 3.30 3.33

2.82 2.84 2.85 2.91

2.20 2.21 2.21 2.24

3.51 3.48 3.52 3.61

3.31 3.27 3.29 3.36

1956 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.43 4.51 4.44 4.41

3.36 3.37 3.36 3.33

2.97 3.00 2.99 2.99

2.28 2.30 2.31 2.30

3.69 3.72 3.71 3.74

3.43 3.45 3.47 3.48

1957 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.38 4.42 4.39 4.39

3.33 3.36 3.35 3.36

2.99 3.01 2.99 2.98

2.30 2.33 2.33 2.32

3.71 3.74 3.72 3.74

3.46 3.51 3.50 3.52

1958 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.60 4.58 4.51 4.44

3.44 3.44 3.37 3.33

3.00 2.96 2.88 2.87

2.36 2.33 2.27 2.25

3.78 3.73 3.65 3.62

3.58 3.55 3.47 3.42

1959 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.31 4.28 4.19 4.20

3.25 3.24 3.21 3.26

2.80 2.83 2.81 2.87

2.21 2.23 2.22 2.27

3.54 3.59 3.57 3.67

3.36 3.40 3.38 3.48

1960 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.24 4.16 4.22 4.17

3.27 3.26 3.30 3.27

2.90 2.88 2.92 2.86

2.30 2.30 2.33 2.29

3.70 3.68 3.73 3.67

3.51 3.51 3.55 3.51

1961 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.14 4.06 4.12 4.07

3.25 3.23 3.25 3.20

2.83 2.80 2.82 2.78

2.27 2.25 2.27 2.24

3.63 3.63 3.63 3.58

3.48 3.48 3.50 3.45

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

411

Table 19-7. Inventories to Sales Ratios—Continued (Seasonally adjusted, ratio of inventories at end of quarter to monthly rate of sales during the quarter, annual data are for fourth quarter.) NIPA Tables 5.7.5A, 5.7.5B, 5.7.6A, 5.7.6B Total private inventories to final sales of domestic business

Nonfarm inventories to:

Year and quarter

Final sales of domestic business Current dollars

Chained (2000) dollars

Current dollars

Final sales of goods and structures

Chained (2000) dollars

Current dollars

Chained (2000) dollars

1962 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.10 4.04 4.12 4.09

3.22 3.19 3.21 3.21

2.79 2.77 2.80 2.79

2.27 2.26 2.29 2.29

3.60 3.58 3.61 3.60

3.48 3.48 3.50 3.51

1963 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.07 4.00 3.95 3.91

3.23 3.19 3.17 3.15

2.80 2.76 2.76 2.75

2.30 2.27 2.28 2.27

3.61 3.58 3.56 3.56

3.53 3.50 3.49 3.49

1964 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.81 3.75 3.74 3.75

3.09 3.07 3.05 3.07

2.71 2.70 2.70 2.73

2.24 2.24 2.24 2.26

3.50 3.50 3.49 3.54

3.44 3.45 3.43 3.49

1965 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.77 3.78 3.74 3.73

3.07 3.05 3.04 2.99

2.74 2.73 2.73 2.70

2.28 2.27 2.27 2.24

3.55 3.54 3.53 3.47

3.50 3.49 3.48 3.42

1966 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.76 3.83 3.87 3.88

3.00 3.06 3.09 3.16

2.71 2.77 2.82 2.89

2.26 2.33 2.37 2.44

3.47 3.58 3.63 3.74

3.43 3.56 3.61 3.75

1967 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.91 3.90 3.89 3.87

3.22 3.21 3.24 3.25

2.95 2.93 2.95 2.96

2.50 2.49 2.52 2.54

3.84 3.80 3.83 3.86

3.85 3.83 3.88 3.92

1968 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.85 3.84 3.79 3.76

3.22 3.24 3.22 3.23

2.92 2.90 2.87 2.87

2.51 2.52 2.51 2.53

3.80 3.79 3.75 3.76

3.86 3.90 3.87 3.91

1969 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.77 3.81 3.80 3.85

3.22 3.25 3.28 3.30

2.88 2.88 2.92 2.95

2.53 2.56 2.59 2.62

3.75 3.78 3.82 3.89

3.90 3.95 4.01 4.08

1970 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.83 3.83 3.82 3.78

3.29 3.31 3.29 3.29

2.94 2.94 2.94 2.94

2.61 2.62 2.62 2.63

3.88 3.89 3.91 3.92

4.06 4.10 4.10 4.13

1971 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.81 3.81 3.76 3.73

3.28 3.29 3.29 3.24

2.93 2.92 2.90 2.86

2.63 2.63 2.63 2.59

3.91 3.90 3.88 3.83

4.12 4.12 4.11 4.07

1972 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.69 3.72 3.73 3.72

3.20 3.18 3.17 3.09

2.82 2.81 2.81 2.75

2.57 2.55 2.55 2.50

3.77 3.74 3.76 3.66

4.02 3.98 3.99 3.90

1973 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.81 4.00 4.07 4.18

3.02 3.06 3.08 3.13

2.77 2.84 2.85 2.96

2.47 2.50 2.51 2.57

3.65 3.74 3.77 3.91

3.83 3.88 3.91 4.01

1974 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.25 4.27 4.46 4.49

3.18 3.22 3.25 3.37

3.10 3.26 3.37 3.52

2.63 2.67 2.70 2.82

4.10 4.33 4.49 4.73

4.10 4.18 4.24 4.50

1975 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.28 4.24 4.17 4.02

3.33 3.26 3.22 3.17

3.38 3.28 3.22 3.14

2.76 2.70 2.66 2.62

4.56 4.44 4.34 4.24

4.41 4.32 4.24 4.17

1976 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.96 4.08 4.01 3.93

3.14 3.17 3.19 3.14

3.12 3.19 3.21 3.17

2.60 2.64 2.66 2.63

4.21 4.31 4.37 4.32

4.13 4.20 4.23 4.21

412

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-7. Inventories to Sales Ratios—Continued (Seasonally adjusted, ratio of inventories at end of quarter to monthly rate of sales during the quarter, annual data are for fourth quarter.) NIPA Tables 5.7.5A, 5.7.5B, 5.7.6A, 5.7.6B Total private inventories to final sales of domestic business

Nonfarm inventories to:

Year and quarter

Final sales of domestic business Current dollars

Chained (2000) dollars

Current dollars

Final sales of goods and structures

Chained (2000) dollars

Current dollars

Chained (2000) dollars

1977 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.66 3.69 3.75 3.86

3.14 3.11 3.13 3.13

3.18 3.14 3.14 3.14

2.63 2.61 2.62 2.62

4.34 4.26 4.28 4.29

4.20 4.14 4.18 4.18

1978 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.01 3.90 3.92 3.95

3.18 3.06 3.06 3.06

3.20 3.10 3.11 3.12

2.67 2.58 2.58 2.58

4.41 4.21 4.20 4.20

4.28 4.08 4.07 4.06

1979 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.13 4.17 4.15 4.17

3.09 3.13 3.08 3.08

3.20 3.27 3.26 3.33

2.61 2.64 2.60 2.60

4.30 4.42 4.38 4.47

4.10 4.18 4.07 4.08

1980 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.23 4.38 4.32 4.23

3.09 3.20 3.10 3.05

3.43 3.55 3.48 3.42

2.61 2.71 2.64 2.60

4.63 4.84 4.75 4.69

4.10 4.29 4.18 4.13

1981 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.24 4.23 4.18 4.15

3.09 3.10 3.15 3.20

3.46 3.45 3.46 3.47

2.63 2.63 2.67 2.71

4.73 4.74 4.76 4.80

4.15 4.18 4.23 4.31

1982 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

4.17 4.13 4.10 3.95

3.20 3.20 3.25 3.15

3.45 3.41 3.41 3.28

2.70 2.70 2.73 2.64

4.79 4.76 4.82 4.67

4.31 4.31 4.40 4.26

1983 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.87 3.80 3.72 3.68

3.08 3.02 2.95 2.91

3.18 3.13 3.11 3.07

2.58 2.54 2.51 2.49

4.56 4.49 4.46 4.39

4.18 4.11 4.05 3.98

1984 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.76 3.74 3.73 3.70

2.95 2.96 2.99 2.98

3.13 3.14 3.16 3.14

2.53 2.53 2.57 2.56

4.48 4.49 4.53 4.50

4.04 4.04 4.09 4.07

1985 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.59 3.53 3.45 3.49

2.93 2.93 2.90 2.92

3.05 3.03 2.97 2.99

2.52 2.51 2.48 2.50

4.40 4.38 4.30 4.36

4.02 4.02 3.98 4.03

1986 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.40 3.36 3.28 3.23

2.91 2.91 2.86 2.84

2.92 2.90 2.84 2.80

2.50 2.50 2.46 2.44

4.27 4.25 4.15 4.12

4.01 4.02 3.95 3.92

1987 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.30 3.28 3.24 3.31

2.87 2.83 2.79 2.84

2.85 2.84 2.81 2.88

2.48 2.46 2.42 2.47

4.22 4.20 4.14 4.25

4.02 3.97 3.90 3.99

1988 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.28 3.27 3.28 3.27

2.80 2.77 2.76 2.75

2.84 2.84 2.84 2.84

2.44 2.43 2.44 2.43

4.22 4.20 4.22 4.22

3.94 3.91 3.94 3.92

1989 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.30 3.27 3.20 3.22

2.76 2.77 2.73 2.75

2.87 2.86 2.81 2.82

2.44 2.45 2.43 2.44

4.28 4.25 4.16 4.22

3.94 3.94 3.89 3.94

1990 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.16 3.16 3.19 3.21

2.72 2.75 2.76 2.77

2.77 2.76 2.81 2.81

2.42 2.45 2.46 2.46

4.11 4.16 4.24 4.27

3.88 3.97 4.00 4.02

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

413

Table 19-7. Inventories to Sales Ratios—Continued (Seasonally adjusted, ratio of inventories at end of quarter to monthly rate of sales during the quarter, annual data are for fourth quarter.) NIPA Tables 5.7.5A, 5.7.5B, 5.7.6A, 5.7.6B Total private inventories to final sales of domestic business

Nonfarm inventories to:

Year and quarter

Final sales of domestic business Current dollars

Chained (2000) dollars

Current dollars

Final sales of goods and structures

Chained (2000) dollars

Current dollars

Chained (2000) dollars

1991 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

3.16 3.07 3.03 3.04

2.79 2.76 2.75 2.77

2.76 2.69 2.68 2.69

2.48 2.45 2.45 2.46

4.21 4.12 4.12 4.17

4.05 4.02 4.03 4.07

1992 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.98 2.97 2.95 2.90

2.72 2.71 2.69 2.67

2.61 2.61 2.59 2.55

2.41 2.40 2.39 2.36

4.07 4.08 4.06 3.99

3.98 3.98 3.95 3.90

1993 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.93 2.91 2.87 2.83

2.69 2.68 2.66 2.63

2.57 2.56 2.53 2.50

2.39 2.39 2.38 2.35

4.04 4.02 4.00 3.92

3.96 3.94 3.93 3.86

1994 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.84 2.84 2.84 2.87

2.64 2.66 2.66 2.67

2.49 2.52 2.52 2.54

2.35 2.37 2.36 2.38

3.92 3.96 3.96 3.99

3.87 3.89 3.88 3.88

1995 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.91 2.92 2.88 2.86

2.69 2.69 2.65 2.63

2.59 2.62 2.58 2.56

2.40 2.41 2.39 2.38

4.07 4.13 4.08 4.05

3.91 3.95 3.91 3.88

1996 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.82 2.79 2.79 2.74

2.61 2.58 2.59 2.56

2.53 2.49 2.48 2.45

2.35 2.33 2.33 2.30

3.99 3.93 3.92 3.87

3.84 3.79 3.79 3.74

1997 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.72 2.71 2.68 2.68

2.56 2.59 2.57 2.60

2.43 2.42 2.39 2.41

2.31 2.33 2.32 2.34

3.83 3.84 3.78 3.82

3.73 3.78 3.74 3.78

1998 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.68 2.64 2.60 2.56

2.63 2.62 2.62 2.59

2.41 2.39 2.36 2.33

2.38 2.37 2.37 2.35

3.84 3.79 3.74 3.67

3.84 3.82 3.81 3.75

1999 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.56 2.55 2.56 2.59

2.61 2.59 2.59 2.60

2.33 2.32 2.34 2.37

2.37 2.35 2.36 2.37

3.69 3.67 3.71 3.76

3.80 3.77 3.78 3.79

2000 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.58 2.60 2.61 2.63

2.58 2.60 2.61 2.62

2.36 2.38 2.40 2.41

2.36 2.38 2.40 2.40

3.75 3.79 3.83 3.85

3.76 3.81 3.84 3.86

2001 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.62 2.58 2.54 2.44

2.61 2.61 2.61 2.55

2.38 2.35 2.32 2.23

2.39 2.39 2.39 2.33

3.82 3.76 3.72 3.57

3.84 3.84 3.84 3.74

2002 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.45 2.45 2.48 2.51

2.56 2.55 2.56 2.58

2.24 2.25 2.26 2.28

2.34 2.34 2.35 2.37

3.61 3.64 3.68 3.73

3.77 3.78 3.79 3.85

2003 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.53 2.49 2.45 2.46

2.57 2.54 2.49 2.48

2.31 2.27 2.21 2.22

2.36 2.33 2.28 2.28

3.77 3.70 3.59 3.61

3.83 3.78 3.65 3.66

2004 1st quarter ............................................. 2nd quarter ............................................ 3rd quarter ............................................. 4th quarter .............................................

2.47 2.50 2.51 2.51

2.47 2.48 2.47 2.47

2.23 2.25 2.28 2.29

2.28 2.28 2.27 2.27

3.64 3.66 3.69 3.72

3.65 3.65 3.61 3.61

414

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-8. Federal Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current receipts Tax receipts Year and quarter Total Total 1

Personal current taxes

Taxes on production and imports Total 1

Excise taxes

Income receipts on assets Taxes on corporate income

Total

Federal Reserve banks

Other

Contributions for government social insurance

Total

Interest receipts

Rents and royalties

Current transfer receipts

Current surplus of government enterprises

1947 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

43.4 42.5 41.6 43.8

36.9 36.4 36.3 38.9

18.2 18.5 18.7 19.8

7.8 7.5 7.4 7.9

... ... ... ...

10.9 10.4 10.2 11.1

0.1 0.1 0.1 0.1

10.9 10.3 10.1 11.0

6.2 5.8 5.0 4.6

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1948 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

44.0 42.5 41.6 41.4

39.1 37.8 36.9 36.7

20.1 17.8 17.1 17.3

7.5 7.9 7.9 7.9

... ... ... ...

11.5 12.1 11.9 11.5

0.1 0.1 0.2 0.2

11.4 12.0 11.7 11.3

4.6 4.3 4.4 4.3

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1949 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

39.9 37.9 37.4 36.2

34.6 32.7 32.5 31.5

16.5 15.6 14.9 14.5

7.8 7.9 8.1 7.7

... ... ... ...

10.4 9.1 9.5 9.3

0.2 0.2 0.2 0.2

10.2 8.9 9.3 9.2

5.0 4.9 4.6 4.3

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1950 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

41.4 45.5 51.8 56.5

36.1 40.2 46.3 50.7

15.2 16.1 17.4 21.0

7.9 8.5 9.8 8.8

... ... ... ...

13.0 15.6 19.1 20.9

0.2 0.2 0.2 0.2

12.9 15.4 18.9 20.7

5.1 5.1 5.3 5.6

... ... ... ...

... ... ... ...

... ... ... ...

0.2 0.2 0.2 0.2

... ... ... ...

1951 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

64.5 61.6 60.9 64.6

57.9 54.9 54.3 57.9

22.8 24.7 26.1 27.9

9.8 8.8 8.8 9.3

... ... ... ...

25.3 21.4 19.4 20.7

0.2 0.3 0.3 0.3

25.0 21.1 19.1 20.4

6.4 6.5 6.3 6.4

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1952 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

64.7 64.8 65.3 68.4

57.8 58.0 58.4 61.4

29.1 30.0 30.4 31.2

9.8 10.1 10.1 10.5

... ... ... ...

19.0 17.9 17.8 19.7

0.3 0.3 0.3 0.3

18.7 17.6 17.5 19.3

6.7 6.6 6.6 6.8

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1953 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

70.1 70.5 69.5 64.3

63.1 63.3 62.4 57.3

31.5 31.5 31.2 31.0

10.8 11.0 10.7 10.4

... ... ... ...

20.8 20.9 20.4 15.9

0.3 0.3 0.4 0.3

20.4 20.5 20.0 15.6

6.8 6.8 6.9 6.7

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1954 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

61.6 61.7 62.3 64.4

53.6 53.7 54.3 56.3

28.1 27.9 27.9 28.3

9.7 9.6 9.3 9.5

... ... ... ...

15.7 16.2 17.1 18.4

0.3 0.3 0.3 0.2

15.4 15.9 16.9 18.2

7.8 7.7 7.7 7.8

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1955 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

68.3 70.3 72.0 73.7

59.5 61.3 62.8 64.5

29.0 30.1 31.0 31.8

10.0 10.5 10.6 10.6

... ... ... ...

20.4 20.7 21.2 22.0

0.2 0.2 0.3 0.3

20.2 20.4 20.9 21.7

8.5 8.7 8.9 8.9

... ... ... ...

... ... ... ...

... ... ... ...

0.3 0.3 0.3 0.3

... ... ... ...

1956 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

74.2 75.6 75.4 78.2

64.3 65.6 65.4 68.1

32.7 33.6 34.2 35.2

10.6 10.6 11.0 11.7

... ... ... ...

21.0 21.4 20.1 21.2

0.4 0.4 0.4 0.4

20.6 21.0 19.7 20.8

9.5 9.6 9.6 9.8

... ... ... ...

... ... ... ...

... ... ... ...

0.4 0.4 0.4 0.4

... ... ... ...

1957 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

80.4 79.9 79.9 77.1

69.0 68.5 68.4 65.8

35.7 36.1 36.3 35.9

11.6 11.6 11.7 11.3

... ... ... ...

21.7 20.8 20.4 18.6

0.5 0.5 0.6 0.6

21.3 20.3 19.8 18.0

11.0 11.0 11.1 10.9

... ... ... ...

... ... ... ...

... ... ... ...

0.4 0.4 0.4 0.4

... ... ... ...

1958 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

73.6 73.5 76.7 80.4

62.2 62.2 65.3 68.9

35.2 34.7 35.9 36.2

11.1 11.2 11.1 11.5

... ... ... ...

16.0 16.3 18.4 21.1

0.6 0.6 0.5 0.5

15.4 15.8 17.9 20.7

10.9 10.9 11.0 11.1

... ... ... ...

... ... ... ...

... ... ... ...

0.4 0.4 0.4 0.4

... ... ... ...

1959 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

84.9 88.6 86.8 87.4

71.4 74.9 73.2 73.7

37.2 38.3 38.7 39.7

11.9 12.1 12.5 12.5

10.9 11.0 11.4 11.4

22.3 24.4 21.9 21.4

0.7 0.8 1.0 1.2

21.6 23.6 20.9 20.2

13.3 13.5 13.4 13.5

0.0 0.0 0.0 0.0

... ... ... ...

0.0 0.0 0.0 0.0

0.4 0.4 0.4 0.4

-0.1 -0.1 -0.2 -0.1

1960 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

95.6 94.3 93.7 92.2

78.2 76.8 76.2 74.8

41.1 41.8 42.3 42.1

13.3 13.2 13.1 12.9

12.1 12.1 12.1 11.9

23.6 21.7 20.7 19.7

0.9 0.9 0.9 0.8

22.7 20.8 19.8 18.9

16.0 16.0 16.0 15.9

1.3 1.3 1.5 1.4

1.3 1.2 1.4 1.4

0.0 0.0 0.0 0.0

0.4 0.4 0.4 0.4

-0.2 -0.2 -0.4 -0.4

1961 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

92.2 94.1 96.0 99.5

74.6 76.4 78.0 81.0

42.2 42.5 42.8 43.4

12.9 13.1 13.2 13.6

11.9 12.1 12.1 12.5

19.4 20.7 22.0 23.9

0.7 0.7 0.7 0.7

18.7 20.1 21.3 23.2

16.3 16.4 16.6 16.8

1.4 1.5 1.4 1.6

1.4 1.4 1.4 1.5

0.1 0.1 0.1 0.1

0.5 0.5 0.5 0.5

-0.5 -0.6 -0.5 -0.3

1Includes

components not shown separately. . . . = Not available.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

415

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current expenditures Government social benefits Year and quarter Total

Consumption expenditures

Total 1

To persons

1

Net federal government saving, NIPA (surplus + / deficit -)

Other current transfer payments

Total 1

Grants-inaid to state and local governments

Interest payments

Total

To persons To the rest and of the world business

Subsidies

Total

Social insurance funds

Other

1947 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

37.5 37.3 39.7 35.8

21.7 21.6 20.6 19.6

7.7 7.3 10.7 7.8

7.7 7.3 10.7 7.8

3.2 3.6 3.8 3.8

1.4 1.7 1.6 1.6

4.2 4.1 4.1 4.1

... ... ... ...

0.0 0.0 0.0 0.0

0.7 0.6 0.5 0.5

5.9 5.2 2.0 7.9

... ... ... ...

... ... ... ...

1948 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

36.3 37.4 40.2 41.2

19.6 21.0 21.8 22.5

7.5 7.2 7.0 7.0

7.5 7.2 7.0 7.0

4.6 4.6 6.6 6.4

1.6 1.7 1.8 1.9

4.1 4.1 4.1 4.2

... ... ... ...

0.0 0.0 0.0 0.0

0.5 0.4 0.7 1.0

7.7 5.1 1.4 0.2

... ... ... ...

... ... ... ...

1949 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

43.3 44.4 43.9 42.3

23.8 24.4 23.0 22.2

7.7 8.2 8.5 8.5

7.7 8.2 8.5 8.5

6.9 7.1 7.4 6.6

1.7 1.7 2.1 1.9

4.3 4.3 4.3 4.4

... ... ... ...

0.0 0.0 0.0 0.0

0.7 0.5 0.7 0.7

-3.4 -6.5 -6.5 -6.2

... ... ... ...

... ... ... ...

1950 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

49.8 42.8 38.3 42.3

22.1 22.1 20.6 23.6

16.6 9.6 7.2 7.5

16.6 9.6 7.2 7.5

5.8 5.7 5.0 5.4

1.9 1.9 1.9 1.9

4.4 4.4 4.5 4.5

... ... ... ...

0.0 0.0 0.0 0.0

0.9 1.0 0.9 1.3

-8.4 2.8 13.5 14.2

... ... ... ...

... ... ... ...

1951 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

47.3 51.6 55.5 58.7

28.8 32.7 37.4 38.7

7.5 7.9 8.1 8.0

7.5 7.9 8.1 8.0

5.1 5.2 5.1 5.4

2.0 2.1 1.9 2.1

4.6 4.6 4.6 4.7

... ... ... ...

0.0 0.0 0.0 0.0

1.3 1.3 1.1 1.2

17.2 10.0 5.3 6.0

... ... ... ...

... ... ... ...

1952 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

57.8 61.4 64.2 64.9

40.8 43.8 45.3 46.9

7.7 7.6 8.5 8.5

7.7 7.6 8.5 8.5

3.8 4.5 4.8 3.9

2.0 2.1 2.3 2.3

4.6 4.6 4.6 4.7

... ... ... ...

0.0 0.0 0.1 0.1

1.0 0.9 0.9 0.8

6.9 3.4 1.1 3.5

... ... ... ...

... ... ... ...

1953 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

65.8 67.8 66.1 67.5

47.7 49.2 47.6 48.8

8.6 8.4 8.6 9.2

8.6 8.4 8.6 9.2

3.9 4.8 4.2 4.2

1.8 2.7 2.3 2.3

4.7 4.7 4.7 4.8

... ... ... ...

0.1 0.1 0.1 0.1

0.9 0.6 0.8 0.4

4.3 2.6 3.5 -3.2

... ... ... ...

... ... ... ...

1954 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

65.0 63.6 63.7 64.3

45.9 43.6 43.1 43.2

9.9 10.5 10.9 11.4

9.9 10.5 10.9 11.4

4.1 3.7 4.3 4.4

2.3 2.3 2.4 2.3

4.8 4.8 4.8 4.8

... ... ... ...

0.1 0.1 0.1 0.1

0.3 0.9 0.6 0.4

-3.3 -1.9 -1.3 0.0

... ... ... ...

... ... ... ...

1955 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

64.7 63.6 67.1 65.9

43.3 42.8 45.2 44.4

11.4 11.4 11.6 11.6

11.4 11.4 11.6 11.6

4.8 4.4 4.4 4.3

2.3 2.4 2.5 2.4

4.7 4.6 4.8 4.9

... ... ... ...

0.1 0.1 0.1 0.1

0.6 0.8 0.5 0.7

3.6 6.7 4.9 7.8

... ... ... ...

... ... ... ...

1956 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

65.7 68.8 67.6 70.9

43.9 46.1 43.9 46.3

11.9 12.1 12.5 12.6

11.9 12.1 12.5 12.6

4.2 4.4 4.5 4.6

2.4 2.5 2.6 2.7

4.9 5.1 5.2 5.7

... ... ... ...

0.1 0.1 0.2 0.2

0.8 1.0 1.4 1.7

8.5 6.7 7.8 7.3

... ... ... ...

... ... ... ...

1957 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

74.3 75.5 75.5 78.6

49.1 49.0 49.1 50.7

13.4 14.5 14.6 15.7

13.4 14.5 14.6 15.7

4.6 4.8 4.7 4.9

2.9 2.8 2.9 3.1

5.4 5.6 5.7 5.9

... ... ... ...

0.2 0.2 0.2 0.2

1.7 1.6 1.5 1.4

6.1 4.3 4.4 -1.5

... ... ... ...

... ... ... ...

1958 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

76.8 81.8 83.1 83.9

49.1 51.8 50.6 52.0

16.8 18.6 19.0 18.3

16.8 18.6 19.0 18.3

4.6 5.1 5.1 5.9

2.9 3.3 3.2 4.0

5.4 5.2 5.3 5.6

... ... ... ...

0.2 0.1 0.1 0.2

1.5 1.7 1.9 2.0

-3.2 -8.3 -6.4 -3.5

-1.3 -3.6 -3.5 -2.4

-1.9 -4.7 -3.0 -1.1

1959 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

81.7 83.4 83.9 85.3

48.3 50.2 50.7 50.7

18.4 18.3 18.5 19.1

18.4 18.3 18.5 19.1

7.5 8.1 7.2 7.8

3.5 3.9 3.8 3.8

6.4 5.9 6.3 6.7

... ... ... ...

0.2 0.2 0.3 0.4

1.1 0.9 1.1 1.1

3.2 5.2 2.9 2.1

-0.6 -0.3 -0.7 -1.2

3.8 5.5 3.6 3.3

1960 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

83.9 86.0 87.1 90.0

48.1 48.6 50.6 51.7

19.1 19.6 20.3 21.2

18.9 19.5 20.1 21.0

7.1 8.0 6.9 7.7

3.9 4.0 4.0 4.2

8.6 8.5 8.2 8.1

8.2 8.2 7.9 7.8

0.4 0.3 0.3 0.3

1.0 1.3 1.0 1.2

11.7 8.2 6.6 2.2

1.3 0.8 0.2 -0.8

10.3 7.4 6.4 3.0

1961 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

89.7 93.4 93.5 94.9

49.8 51.2 52.2 53.3

22.9 23.7 23.7 23.1

22.7 23.4 23.5 22.9

7.5 8.7 7.5 8.1

4.2 4.5 4.6 4.7

7.9 7.8 7.9 8.0

7.6 7.6 7.6 7.7

0.3 0.3 0.3 0.3

1.6 2.0 2.2 2.3

2.5 0.8 2.5 4.7

-2.1 -2.7 -2.7 -1.8

4.6 3.5 5.2 6.5

1Includes

components not shown separately. . . . = Not available.

416

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current receipts Tax receipts Year and quarter Total Total 1

Personal current taxes

Taxes on production and imports Total 1

Excise taxes

Income receipts on assets Taxes on corporate income

Total

Federal Reserve banks

Other

Contributions for government social insurance

Total

Interest receipts

Rents and royalties

Current transfer receipts

Current surplus of government enterprises

1962 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

101.0 102.5 104.9 106.1

80.9 82.2 84.5 85.7

44.6 46.0 47.2 48.4

14.0 14.0 14.4 14.3

12.8 12.8 13.2 13.1

22.3 22.1 22.7 22.8

0.8 0.8 0.8 0.8

21.5 21.3 21.9 22.0

18.4 18.6 18.6 18.7

1.6 1.8 1.7 1.7

1.5 1.7 1.6 1.6

0.1 0.1 0.1 0.1

0.5 0.5 0.5 0.5

-0.4 -0.5 -0.5 -0.5

1963 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

109.1 111.4 112.5 114.1

86.3 88.4 89.3 90.5

48.8 49.0 49.1 49.6

14.4 14.7 14.8 15.0

13.2 13.5 13.6 13.7

22.9 24.5 25.2 25.8

0.8 0.9 0.9 0.9

22.0 23.6 24.3 24.8

20.7 20.9 21.1 21.4

1.7 1.7 1.8 1.8

1.7 1.7 1.7 1.7

0.1 0.1 0.1 0.1

0.6 0.6 0.6 0.6

-0.3 -0.3 -0.3 -0.2

1964 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

112.7 109.0 111.7 113.6

89.1 85.3 87.6 89.1

48.0 43.7 45.4 46.9

15.0 15.4 15.5 15.9

13.8 14.1 14.2 14.5

25.9 26.0 26.5 26.1

1.5 1.6 1.6 1.7

24.4 24.4 24.9 24.5

21.4 21.6 21.8 22.0

1.9 1.8 2.0 1.6

1.8 1.7 1.9 1.5

0.1 0.1 0.1 0.1

0.6 0.5 0.9 1.0

-0.2 -0.2 -0.6 -0.2

1965 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

119.5 121.4 119.8 123.1

94.6 96.2 94.3 97.6

50.5 51.9 50.4 51.5

16.4 15.7 14.8 15.0

15.0 14.1 13.1 13.3

27.5 28.4 28.9 30.8

1.2 1.3 1.3 1.4

26.3 27.1 27.6 29.4

22.2 22.4 22.8 23.2

2.0 2.0 2.0 1.7

1.9 1.9 1.9 1.6

0.1 0.1 0.1 0.1

1.0 1.0 1.1 1.1

-0.3 -0.2 -0.4 -0.5

1966 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

132.5 137.3 139.7 142.3

100.2 104.6 106.1 108.2

54.4 58.0 59.8 62.2

13.9 14.7 14.6 14.9

12.1 12.8 12.7 13.0

31.7 31.7 31.4 30.9

1.5 1.6 1.7 1.8

30.2 30.2 29.7 29.0

29.6 30.0 31.1 31.4

2.0 2.0 2.1 2.3

1.9 1.9 2.0 2.1

0.1 0.1 0.1 0.1

1.1 1.1 1.2 1.2

-0.5 -0.6 -0.8 -0.7

1967 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

143.2 144.3 147.8 152.2

107.7 107.5 110.3 114.0

62.9 62.6 65.2 66.9

15.0 15.2 15.3 15.5

13.0 13.3 13.5 13.5

29.7 29.4 29.6 31.4

1.9 1.9 1.9 2.0

27.8 27.5 27.8 29.4

32.8 33.7 34.4 35.1

2.3 2.5 2.5 2.6

2.2 2.4 2.4 2.4

0.2 0.2 0.2 0.2

1.0 1.1 1.1 1.2

-0.7 -0.6 -0.5 -0.8

1968 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

160.9 165.6 176.8 181.5

120.6 124.4 134.8 139.3

68.8 71.4 81.0 84.5

16.2 16.8 17.3 17.5

14.1 14.6 15.0 15.1

35.2 35.9 36.1 37.0

2.3 2.4 2.5 2.6

33.0 33.5 33.5 34.4

36.7 37.5 38.1 38.7

2.9 2.9 3.1 2.8

2.7 2.7 2.9 2.6

0.2 0.2 0.2 0.2

1.1 1.1 1.1 1.1

-0.4 -0.3 -0.3 -0.4

1969 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

191.0 194.1 191.9 193.3

145.9 148.1 144.8 145.4

90.7 93.3 90.8 91.9

17.4 17.9 18.3 18.0

15.4 15.3 15.8 15.6

37.4 36.5 35.3 35.1

2.8 3.0 3.1 3.3

34.6 33.5 32.2 31.8

41.9 42.7 43.6 44.2

2.6 2.6 2.7 2.8

2.4 2.5 2.5 2.6

0.2 0.2 0.2 0.2

1.1 1.1 1.2 1.2

-0.5 -0.5 -0.4 -0.3

1970 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

187.2 188.1 184.7 183.8

139.2 140.5 136.5 135.9

90.6 91.4 86.3 87.2

18.0 18.2 18.3 18.3

15.5 15.8 15.8 15.7

30.3 30.5 31.5 30.1

3.4 3.5 3.6 3.5

27.0 27.0 27.9 26.6

44.9 45.2 45.6 45.4

2.9 3.1 3.1 3.1

2.7 2.8 2.8 2.9

0.2 0.2 0.3 0.3

1.2 1.2 1.1 1.1

-1.0 -1.8 -1.5 -1.7

1971 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

188.5 191.4 191.8 195.1

136.8 138.2 138.7 141.1

83.6 85.1 86.3 88.2

19.5 18.8 19.0 19.1

16.9 16.1 15.8 15.1

33.3 33.9 33.1 33.5

3.4 3.3 3.4 3.4

29.9 30.7 29.8 30.1

49.3 49.9 50.1 50.7

3.2 3.5 3.5 3.7

2.9 3.1 3.1 3.3

0.3 0.3 0.4 0.4

1.1 1.1 1.1 1.1

-2.0 -1.3 -1.6 -1.5

1972 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

214.1 217.5 220.4 228.2

154.0 156.4 158.4 164.7

100.3 102.4 103.1 105.3

18.3 18.4 18.6 19.1

15.2 15.6 15.7 15.9

35.0 35.2 36.3 39.9

3.2 3.2 3.2 3.3

31.8 32.0 33.1 36.6

56.9 57.5 58.2 59.0

3.5 3.5 3.7 3.7

3.2 3.2 3.3 3.3

0.4 0.4 0.4 0.4

1.2 1.3 1.3 1.3

-1.5 -1.2 -1.1 -0.6

1973 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

243.5 247.6 250.8 259.6

167.6 170.7 173.4 180.9

104.5 106.9 111.0 116.0

19.7 20.0 19.8 20.2

16.2 16.7 16.7 17.0

43.0 43.5 42.2 44.3

3.7 4.2 4.6 4.9

39.3 39.4 37.6 39.4

72.2 73.3 74.5 76.0

3.8 3.8 3.7 3.8

3.4 3.4 3.3 3.3

0.4 0.4 0.4 0.5

1.4 1.5 1.1 1.1

-1.4 -1.8 -1.9 -2.2

1974 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

267.2 277.6 288.4 284.9

182.3 190.2 199.8 196.6

119.5 124.8 129.7 132.0

19.9 20.2 20.4 20.3

16.5 16.7 16.5 16.5

42.5 44.8 49.3 43.9

5.1 5.5 5.8 5.8

37.4 39.3 43.5 38.1

81.5 83.1 84.7 84.8

4.0 4.2 4.2 4.3

3.5 3.6 3.7 3.8

0.5 0.5 0.6 0.6

1.3 1.4 1.5 1.5

-2.0 -1.2 -1.8 -2.3

1975 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

278.3 245.1 288.5 296.8

189.6 156.1 198.0 204.4

132.3 94.6 125.7 130.4

19.9 21.5 23.5 24.1

15.8 16.3 16.6 16.8

37.0 39.6 48.3 49.4

5.5 5.4 5.2 5.5

31.5 34.2 43.2 43.9

85.9 86.2 87.9 89.9

4.5 4.8 5.1 5.2

3.9 4.2 4.5 4.5

0.6 0.6 0.6 0.6

1.5 1.5 1.5 1.5

-3.1 -3.4 -3.9 -4.1

1976 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

312.1 319.0 326.6 332.5

210.0 215.4 221.2 225.9

132.7 138.4 144.2 149.7

21.0 21.5 21.9 21.9

16.7 17.0 17.1 17.3

55.7 54.8 54.4 53.5

5.8 5.8 5.9 6.0

49.9 49.0 48.5 47.5

96.9 98.3 100.0 101.4

5.7 5.9 6.1 5.8

5.0 5.2 5.4 5.1

0.7 0.7 0.7 0.7

1.5 1.6 1.6 1.7

-2.0 -2.2 -2.3 -2.3

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

417

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current expenditures Government social benefits Year and quarter Total

Consumption expenditures

Total 1

To persons

1

Net federal government saving, NIPA (surplus + / deficit -)

Other current transfer payments

Total 1

Grants-inaid to state and local governments

Interest payments

Total

To persons To the rest and of the world business

Subsidies

Total

Social insurance funds

Other

1962 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

98.6 100.3 101.7 103.7

56.0 56.9 58.9 59.6

23.6 23.4 23.7 24.3

23.3 23.1 23.5 24.1

8.5 9.1 8.1 8.6

4.9 4.9 5.2 5.2

8.2 8.6 8.8 9.0

7.9 8.2 8.5 8.6

0.3 0.3 0.3 0.4

2.3 2.4 2.2 2.2

2.4 2.2 3.1 2.4

-0.6 -0.3 -0.5 -0.8

3.1 2.5 3.6 3.2

1963 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

104.9 105.0 106.7 108.9

59.5 59.1 61.8 62.7

25.5 24.4 24.6 25.0

25.3 24.2 24.3 24.8

8.8 10.1 8.6 9.2

5.3 5.5 5.8 6.1

9.0 9.2 9.4 9.6

8.7 8.8 9.0 9.2

0.4 0.4 0.4 0.4

2.0 2.2 2.3 2.4

4.2 6.3 5.9 5.2

-0.2 1.1 1.2 1.2

4.3 5.2 4.7 4.0

1964 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

110.7 111.6 110.4 110.3

62.7 62.9 63.4 62.1

25.8 25.2 25.3 25.4

25.5 24.9 25.1 25.1

9.6 10.7 9.0 9.8

6.5 6.5 6.2 6.6

9.8 9.9 10.1 10.2

9.4 9.5 9.7 9.7

0.4 0.4 0.4 0.5

2.7 2.9 2.6 2.7

2.0 -2.6 1.3 3.3

0.5 1.3 1.5 1.7

1.5 -3.9 -0.2 1.6

1965 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

111.9 114.6 120.2 123.7

62.3 63.1 66.7 70.8

26.5 26.2 29.5 28.2

26.2 25.7 29.2 27.9

9.8 11.8 10.5 10.8

6.5 7.1 7.5 7.6

10.3 10.5 10.6 10.8

9.9 10.1 10.1 10.3

0.5 0.5 0.5 0.5

2.9 3.0 3.0 3.1

7.6 6.8 -0.4 -0.6

0.9 1.6 -1.2 0.5

6.7 5.1 0.8 -1.1

1966 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

127.4 133.8 138.3 143.2

71.3 74.5 78.6 79.1

29.0 28.6 30.2 33.1

28.7 28.3 29.8 32.8

12.6 15.3 13.6 14.5

9.0 10.1 10.5 10.7

11.0 11.5 11.8 12.3

10.5 10.9 11.2 11.7

0.5 0.5 0.6 0.6

3.5 3.9 4.0 4.2

5.0 3.5 1.4 -0.9

6.4 6.7 6.2 4.7

-1.4 -3.2 -4.8 -5.6

1967 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

152.9 154.7 156.3 161.0

85.2 86.2 87.3 89.9

35.9 36.4 37.5 37.9

35.6 36.1 36.9 37.6

15.3 15.8 15.3 16.4

11.1 11.6 11.6 12.7

12.5 12.4 12.6 13.1

12.0 11.8 12.0 12.5

0.5 0.6 0.6 0.7

4.0 3.8 3.7 3.7

-9.7 -10.4 -8.5 -8.8

3.7 4.3 4.0 4.6

-13.4 -14.7 -12.5 -13.4

1968 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

166.9 173.0 175.2 178.9

93.7 94.5 95.9 97.5

39.6 42.2 43.2 43.9

39.3 41.8 42.8 43.5

15.6 17.6 17.0 18.2

11.8 13.3 12.6 13.2

13.8 14.5 14.9 15.1

13.1 13.8 14.3 14.4

0.7 0.7 0.7 0.7

4.0 4.2 4.2 4.2

-6.0 -7.4 1.5 2.7

4.6 2.9 2.6 2.7

-10.5 -10.3 -1.1 0.0

1969 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

176.4 182.5 186.2 190.1

95.4 97.6 100.2 100.3

44.9 45.7 46.5 47.4

44.6 45.3 46.1 47.0

16.6 19.2 19.0 21.0

13.1 14.0 15.1 16.1

15.1 15.6 15.9 16.7

14.3 14.8 15.1 15.9

0.8 0.8 0.8 0.8

4.3 4.4 4.6 4.6

14.6 11.5 5.6 3.2

5.1 5.5 6.0 6.2

9.4 6.1 -0.3 -3.0

1970 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

189.5 204.0 204.1 206.9

99.8 98.0 98.4 98.3

48.6 57.9 57.4 60.3

48.3 57.5 56.9 59.8

21.5 23.6 25.0 25.5

17.5 18.8 20.1 20.8

17.3 17.5 18.2 18.0

16.4 16.6 17.0 16.9

0.8 1.0 1.1 1.2

4.7 4.8 4.7 4.8

-2.3 -15.8 -19.4 -23.1

6.6 -1.3 0.5 -1.7

-8.8 -14.5 -19.9 -21.4

1971 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

212.0 221.5 221.0 225.7

101.0 101.9 102.0 103.0

61.5 68.4 67.7 68.7

61.0 67.9 67.2 68.2

27.0 28.8 28.7 31.3

21.6 23.2 23.5 24.7

17.9 17.6 18.0 18.2

16.5 16.0 15.9 15.9

1.3 1.6 2.1 2.4

4.7 4.8 4.5 4.6

-23.6 -30.1 -29.1 -30.6

1.3 -5.1 -4.1 -4.2

-24.9 -25.0 -25.1 -26.4

1972 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

236.6 245.2 237.0 258.9

108.3 109.4 105.9 107.0

70.7 70.7 70.7 81.2

70.2 70.2 70.3 80.6

33.2 40.3 34.4 46.4

25.7 33.9 26.8 40.4

18.3 18.6 18.8 19.4

15.8 16.0 16.1 16.5

2.5 2.6 2.7 2.9

6.1 6.2 7.1 7.0

-22.6 -27.7 -16.6 -30.7

0.1 0.8 2.0 -5.4

-22.7 -28.5 -18.5 -25.3

1973 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

258.2 262.3 260.9 265.3

108.5 109.2 107.8 109.9

82.8 84.2 85.7 87.9

82.2 83.6 85.1 87.3

40.1 40.8 39.2 38.7

35.6 34.7 33.9 34.9

21.0 22.4 23.5 24.3

17.6 18.5 19.5 20.3

3.5 3.9 4.0 4.0

5.9 5.6 4.6 4.5

-14.7 -14.7 -10.1 -5.7

6.1 5.7 5.7 5.6

-20.8 -20.4 -15.8 -11.3

1974 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

275.5 288.4 298.9 310.4

114.0 114.6 119.0 124.3

94.5 101.3 107.1 112.6

94.1 100.7 106.4 112.0

38.9 43.5 41.7 43.1

34.6 35.4 36.8 38.2

24.8 25.6 26.7 26.9

20.8 21.4 22.4 22.4

4.0 4.2 4.3 4.5

3.5 2.8 3.1 3.5

-8.3 -10.8 -10.5 -25.4

9.1 4.1 1.8 -2.2

-17.4 -14.8 -12.3 -23.3

1975 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

325.5 349.3 350.5 359.6

125.8 128.2 130.2 134.0

121.2 134.9 137.4 138.6

120.5 134.2 136.8 137.8

47.1 54.1 49.3 51.5

40.7 45.8 46.5 47.5

27.3 28.1 29.3 31.0

22.4 23.7 24.8 26.6

4.9 4.4 4.5 4.4

4.1 4.1 4.4 4.8

-47.2 -104.2 -62.0 -62.8

-9.1 -14.9 -21.1 -19.6

-38.1 -89.3 -40.8 -43.2

1976 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

364.5 367.1 378.3 387.3

134.2 136.5 136.6 141.4

141.8 140.1 145.8 148.1

141.0 139.3 145.0 147.3

51.3 52.7 57.0 57.2

48.7 49.5 50.4 54.4

32.4 33.2 34.1 35.4

28.0 28.8 29.5 30.7

4.4 4.4 4.6 4.7

5.0 4.7 4.9 5.3

-52.4 -48.1 -51.7 -54.8

-14.9 -12.5 -17.3 -17.9

-37.5 -35.6 -34.3 -37.0

1Includes

components not shown separately.

418

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current receipts Tax receipts Year and quarter Total Total 1

Personal current taxes

Taxes on production and imports Total 1

Excise taxes

Income receipts on assets Taxes on corporate income

Total

Federal Reserve banks

Other

Contributions for government social insurance

Total

Interest receipts

Rents and royalties

Current transfer receipts

Current surplus of government enterprises

1977 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

347.0 360.8 367.4 378.5

234.7 245.7 250.2 259.1

154.9 160.6 162.3 170.8

22.2 22.7 23.4 23.4

17.1 17.4 17.6 17.9

56.9 61.7 63.8 64.1

5.9 6.0 5.9 6.0

51.0 55.7 57.9 58.1

106.8 109.4 111.5 113.6

6.5 6.7 6.9 6.8

5.6 5.8 5.9 5.8

0.8 0.9 1.0 1.0

1.7 1.8 2.1 2.1

-2.6 -2.7 -3.2 -3.2

1978 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

388.7 417.1 434.7 453.5

258.9 282.1 295.7 310.7

173.1 182.7 195.1 204.9

24.2 25.6 25.8 26.6

17.8 18.5 18.5 19.1

60.7 72.8 73.9 78.2

6.3 6.6 7.2 7.9

54.4 66.2 66.7 70.3

123.0 126.8 129.3 132.4

7.6 8.4 8.7 9.4

6.6 7.3 7.6 8.2

1.0 1.1 1.1 1.2

2.3 2.4 2.5 2.6

-3.1 -2.5 -1.5 -1.5

1979 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

469.1 480.3 492.4 503.1

313.3 322.4 330.9 338.3

211.3 219.7 229.2 238.3

26.2 26.2 25.7 25.9

18.6 18.7 18.4 18.6

74.8 75.4 74.8 72.7

8.2 8.8 9.5 10.6

66.6 66.5 65.3 62.1

145.0 147.0 150.3 153.2

9.9 10.2 10.9 11.6

8.6 8.7 9.4 9.9

1.3 1.4 1.6 1.7

2.7 2.8 2.9 3.0

-1.8 -2.1 -2.6 -2.9

1980 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

517.2 514.3 533.6 563.3

345.7 341.2 357.3 379.5

237.6 243.6 252.2 266.6

28.0 33.9 36.5 37.7

20.7 27.0 29.3 30.4

78.6 62.1 67.0 73.6

11.6 12.3 11.0 11.9

67.0 49.8 56.0 61.7

159.5 160.3 162.8 167.9

12.1 13.0 14.2 15.3

10.2 10.8 11.8 12.5

2.0 2.2 2.5 2.8

3.1 3.2 3.2 4.6

-3.2 -3.4 -3.8 -3.9

1981 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

606.6 616.1 631.9 623.2

401.9 406.4 419.0 405.0

277.8 288.4 300.8 295.3

51.0 52.2 49.5 48.5

43.2 43.8 40.7 39.1

71.5 64.3 67.2 59.8

13.0 13.6 14.5 15.0

58.5 50.7 52.7 44.8

187.9 190.3 193.7 195.5

16.6 17.5 18.8 20.2

13.5 14.2 15.2 16.4

3.1 3.4 3.6 3.8

3.9 3.5 3.7 3.9

-3.7 -1.7 -3.3 -1.4

1982 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

616.5 622.7 611.9 615.2

388.4 393.2 381.7 383.7

294.6 301.1 289.1 295.2

43.9 40.4 40.5 40.7

34.8 31.7 32.2 32.4

48.6 50.4 50.8 46.3

15.1 15.7 15.4 14.6

33.5 34.7 35.4 31.7

203.2 204.3 205.8 206.1

21.6 22.0 22.4 22.7

17.7 18.1 18.5 19.0

3.9 3.9 3.8 3.7

4.9 5.2 5.4 5.5

-1.5 -2.0 -3.3 -2.8

1983 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

622.1 647.7 641.1 658.4

379.8 401.8 391.5 401.2

289.0 294.7 276.8 284.4

41.5 45.7 45.9 46.2

33.8 36.7 36.2 36.1

48.2 60.2 67.6 69.4

13.9 13.9 14.3 14.8

34.3 46.3 53.3 54.6

216.3 219.6 223.1 228.3

23.2 23.3 24.0 24.9

19.7 19.8 20.6 21.4

3.5 3.4 3.4 3.5

5.5 5.8 6.1 6.6

-2.8 -2.8 -3.5 -2.6

1984 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

692.5 705.2 711.8 726.6

416.4 423.0 426.1 437.4

287.4 294.1 306.9 317.3

47.4 48.0 47.9 47.8

36.5 35.8 35.7 35.5

80.3 79.5 70.1 71.0

15.4 15.7 16.3 16.7

64.8 63.8 53.8 54.3

246.5 251.2 255.2 258.4

25.5 27.0 26.8 27.3

21.7 23.1 22.9 23.5

3.8 3.9 3.9 3.9

7.1 7.3 7.3 7.3

-3.0 -3.1 -3.7 -3.8

1985 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

779.8 743.6 781.1 788.6

476.7 429.5 467.3 469.1

352.6 307.1 339.6 344.7

46.8 46.0 47.2 45.8

34.5 34.4 35.1 33.1

75.9 74.5 78.4 76.3

18.2 18.2 17.5 17.3

57.7 56.3 60.8 59.0

270.7 274.1 277.9 283.2

27.7 28.3 30.0 30.5

23.9 24.7 26.6 27.4

3.8 3.6 3.4 3.1

7.9 13.6 8.0 7.9

-3.2 -2.0 -2.1 -2.2

1986 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

799.2 802.6 816.8 842.2

469.3 470.1 479.2 499.9

341.3 343.9 351.4 363.7

44.8 43.3 44.1 43.9

32.0 29.8 29.8 29.7

81.7 81.4 81.9 90.3

18.7 17.9 17.3 17.2

63.0 63.4 64.6 73.1

292.4 294.9 298.9 303.6

31.5 31.1 32.9 30.1

28.8 28.6 30.6 27.8

2.7 2.5 2.3 2.2

8.0 8.2 7.3 9.4

-2.0 -1.7 -1.5 -0.8

1987 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

842.3 911.8 906.2 926.2

494.3 560.1 552.6 568.9

357.9 409.7 394.4 408.0

44.4 46.1 46.7 47.7

29.5 30.3 31.3 31.8

90.2 102.3 109.5 110.7

17.2 17.7 18.0 18.1

73.0 84.6 91.5 92.7

309.7 313.2 317.2 323.5

29.3 28.8 27.9 25.9

26.9 26.4 25.5 23.6

2.4 2.4 2.3 2.3

10.0 11.2 10.7 11.0

-1.0 -1.5 -2.1 -3.2

1988 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

940.0 949.9 961.3 981.8

556.5 561.6 568.1 580.5

401.7 399.6 401.6 408.7

50.0 49.8 50.7 50.7

33.7 33.6 34.2 33.9

102.7 109.5 113.4 119.0

16.7 16.6 17.5 18.6

85.9 92.8 95.9 100.4

344.1 350.8 355.9 361.6

33.9 28.2 27.9 29.9

31.7 26.2 26.0 28.0

2.2 2.0 1.9 1.9

10.1 10.5 11.1 11.6

-4.5 -1.3 -1.7 -1.7

1989 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 028.2 1 030.8 1 038.5 1 052.0

618.5 618.1 619.2 630.9

437.9 446.8 455.5 465.8

51.3 49.7 50.5 49.4

34.2 32.2 32.8 31.8

126.3 119.1 110.5 113.0

21.2 22.1 21.5 21.8

105.1 97.0 89.0 91.1

371.1 374.0 377.4 382.6

28.4 28.2 30.3 27.4

26.5 26.2 28.1 25.1

1.9 2.0 2.2 2.3

11.8 12.0 13.1 12.8

-1.6 -1.4 -1.5 -1.7

1990 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 057.5 1 075.8 1 093.2 1 099.5

626.9 643.0 653.9 647.3

461.3 470.1 475.1 474.3

50.8 51.3 51.6 52.0

33.1 33.5 34.2 35.0

112.1 118.7 124.2 117.5

22.6 23.2 24.7 24.0

89.6 95.5 99.5 93.5

394.6 398.5 403.9 403.4

27.5 26.8 27.2 39.3

25.1 24.3 24.6 36.6

2.5 2.6 2.7 2.7

12.3 12.7 13.7 15.5

-3.8 -5.1 -5.5 -6.0

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

419

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current expenditures Government social benefits Year and quarter Total

Consumption expenditures

Total 1

To persons

1

Net federal government saving, NIPA (surplus + / deficit -)

Other current transfer payments

Total 1

Grants-inaid to state and local governments

Interest payments

Total

To persons To the rest and of the world business

Subsidies

Total

Social insurance funds

Other

1977 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

392.3 400.2 412.6 425.0

145.3 149.5 151.6 156.5

150.3 149.3 154.9 157.1

149.4 148.6 154.1 156.2

55.6 59.4 62.8 62.2

52.5 55.5 59.1 59.2

35.6 36.4 37.2 39.2

30.8 31.3 31.6 32.6

4.8 5.1 5.6 6.6

5.6 5.7 6.2 10.1

-45.3 -39.4 -45.2 -46.5

-14.4 -12.0 -14.7 -14.2

-30.9 -27.3 -30.5 -32.3

1978 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

435.1 442.6 454.2 468.1

158.3 162.1 164.0 168.9

159.1 158.6 166.5 169.0

158.3 157.7 165.6 168.0

67.3 70.1 69.3 70.9

63.5 66.1 65.5 67.1

41.9 43.8 46.4 49.2

34.1 35.4 37.8 39.3

7.8 8.4 8.6 9.8

8.5 8.1 8.0 10.1

-46.3 -25.5 -19.4 -14.7

-5.6 -1.4 -6.3 -5.0

-40.7 -24.1 -13.2 -9.7

1979 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

475.3 486.5 504.2 524.0

173.2 178.0 177.3 187.5

173.1 176.4 190.8 194.6

172.2 175.4 189.8 193.6

68.4 69.3 72.0 73.7

64.4 65.0 67.6 68.4

52.3 54.4 56.4 59.7

41.2 43.4 45.3 48.4

11.1 11.0 11.1 11.3

8.1 8.5 7.8 8.5

-6.1 -6.2 -11.9 -20.8

4.9 4.5 -4.2 -4.5

-11.0 -10.7 -7.6 -16.3

1980 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

548.1 569.0 602.4 623.5

195.8 207.1 208.1 219.0

202.5 207.6 235.9 236.9

201.5 206.6 234.8 235.7

75.8 75.2 78.7 83.8

69.3 70.8 73.4 75.8

65.3 69.7 70.0 73.9

52.9 57.8 57.8 59.5

12.3 11.9 12.1 14.4

8.9 9.3 9.7 9.9

-30.9 -54.7 -68.7 -60.2

-2.3 -7.6 -27.7 -24.3

-28.6 -47.0 -41.0 -35.9

1981 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

645.8 659.5 683.0 702.6

228.1 237.1 238.3 249.7

241.1 242.2 260.0 262.2

239.9 241.0 258.7 260.9

79.5 79.8 78.2 75.2

74.4 74.5 71.9 69.2

87.0 90.1 96.0 102.4

70.8 72.7 78.3 84.6

16.2 17.4 17.7 17.9

10.2 10.3 10.7 13.1

-39.3 -43.4 -51.1 -79.4

-7.3 -6.2 -19.9 -22.0

-32.0 -37.2 -31.2 -57.4

1982 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

716.8 728.7 755.7 792.6

255.2 256.5 265.1 276.6

265.5 272.8 288.2 303.3

264.6 271.6 286.9 301.9

76.0 76.1 75.2 78.3

68.8 70.4 69.0 69.8

106.5 110.2 114.9 115.5

87.7 91.9 94.9 95.4

18.8 18.3 19.9 20.1

13.5 13.1 12.5 18.9

-100.4 -105.9 -143.8 -177.3

-18.8 -25.5 -38.9 -52.0

-81.6 -80.4 -104.9 -125.3

1983 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

795.3 817.2 826.8 822.2

280.5 287.3 296.3 282.0

302.9 308.2 302.1 304.2

301.6 306.9 300.8 302.9

75.5 78.4 78.8 82.0

70.6 72.7 71.8 71.2

117.0 121.0 127.5 132.8

98.2 102.3 108.5 113.4

18.9 18.7 19.0 19.4

19.4 21.0 21.7 21.0

-173.2 -169.4 -185.7 -163.8

-41.7 -44.2 -33.5 -29.8

-131.5 -125.3 -152.2 -134.0

1984 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

846.3 869.2 883.5 909.4

297.2 310.5 313.2 319.1

307.1 309.2 309.8 315.8

305.9 307.9 308.6 314.6

82.0 84.3 84.8 92.9

75.4 77.4 75.1 78.8

139.6 145.0 155.2 161.5

119.8 124.7 133.5 138.6

19.8 20.3 21.6 22.9

20.7 20.5 20.4 20.7

-153.9 -164.0 -171.7 -182.8

-13.0 -9.5 -5.2 -7.2

-140.8 -154.5 -166.5 -175.6

1985 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

926.8 940.9 955.5 969.9

329.3 334.5 342.1 347.7

324.0 324.9 328.3 329.3

322.7 323.7 327.1 328.0

88.6 90.9 94.1 97.1

79.1 80.0 81.2 83.1

164.3 169.0 170.1 174.2

141.3 146.1 146.8 150.9

23.0 22.9 23.3 23.3

20.7 20.6 20.9 21.6

-147.0 -197.3 -174.3 -181.3

-1.9 1.1 1.7 6.1

-145.1 -198.4 -176.0 -187.4

1986 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

979.9 1 004.7 1 023.9 1 015.6

347.2 357.1 365.8 362.9

339.2 342.9 348.6 350.4

337.7 341.4 347.2 348.3

93.6 102.5 106.1 97.3

84.8 89.0 91.8 84.9

177.2 178.5 178.4 178.5

152.7 154.2 153.7 153.5

24.5 24.2 24.8 25.0

22.7 23.8 25.1 26.5

-180.7 -202.1 -207.1 -173.3

6.8 6.1 4.8 8.0

-187.5 -208.2 -211.9 -181.4

1987 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 022.8 1 037.8 1 040.5 1 065.3

369.6 372.3 372.3 382.8

354.5 358.5 358.9 360.7

353.0 357.1 357.4 359.2

91.1 95.4 93.4 99.0

82.1 85.8 83.9 83.8

179.7 181.5 185.2 191.8

153.9 155.5 159.1 164.9

25.8 26.0 26.1 26.9

27.9 30.1 30.9 30.7

-180.5 -126.0 -134.4 -139.1

11.2 11.5 15.7 22.2

-191.7 -137.5 -150.1 -161.3

1988 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 082.4 1 080.9 1 089.3 1 118.2

381.5 379.9 377.0 391.4

375.6 376.7 380.1 383.9

374.0 375.1 378.5 382.3

99.4 98.6 103.3 109.9

89.5 90.0 93.1 93.8

195.9 196.2 200.1 205.0

167.0 165.3 167.2 170.9

28.9 30.9 32.9 34.1

29.9 29.4 28.7 28.0

-142.4 -131.0 -128.0 -136.4

31.4 38.5 42.1 46.7

-173.8 -169.5 -170.1 -183.2

1989 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 139.6 1 159.4 1 178.0 1 192.9

389.0 400.5 403.0 404.5

404.4 408.8 414.3 421.4

402.8 407.2 412.6 419.7

105.3 104.2 113.3 116.5

94.9 95.6 101.4 101.4

213.5 219.1 220.9 223.9

176.6 181.0 181.8 184.6

36.9 38.1 39.1 39.3

27.4 26.8 26.5 26.7

-111.4 -128.6 -139.5 -140.9

41.8 42.6 42.9 45.2

-153.2 -171.3 -182.4 -186.1

1990 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 226.0 1 247.2 1 258.1 1 282.6

414.9 418.1 416.4 429.7

437.6 443.5 448.0 459.5

435.9 441.7 446.2 457.8

117.7 125.7 125.9 121.7

106.5 110.3 112.6 116.3

229.2 233.6 241.5 245.5

189.2 193.1 200.6 203.9

40.1 40.5 40.9 41.6

26.5 26.4 26.4 26.4

-168.6 -171.4 -164.9 -183.1

43.8 43.5 45.8 39.0

-212.4 -214.9 -210.7 -222.2

1Includes

components not shown separately.

420

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current receipts Tax receipts Year and quarter Total Total 1

Personal current taxes

Taxes on production and imports Total 1

Excise taxes

Income receipts on assets Taxes on corporate income

Total

Federal Reserve banks

Other

Contributions for government social insurance

Total

Interest receipts

Rents and royalties

Current transfer receipts

Current surplus of government enterprises

1991 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 087.0 1 095.7 1 107.1 1 115.3

627.5 632.6 638.5 645.6

457.3 459.2 461.9 467.0

60.1 61.7 62.2 64.6

43.6 45.6 45.5 46.7

107.4 109.0 111.8 111.6

21.5 20.8 20.5 20.3

85.9 88.2 91.3 91.2

413.5 416.3 420.8 423.7

32.4 30.1 30.4 27.5

29.6 27.3 27.7 24.8

2.8 2.8 2.8 2.7

17.1 17.7 18.3 18.6

-3.5 -1.0 -0.9 -0.1

1992 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 126.8 1 143.7 1 137.6 1 180.6

645.8 658.8 649.2 687.8

459.1 468.0 477.2 496.8

64.0 63.5 62.3 65.0

46.3 45.5 43.6 46.1

120.0 124.7 107.1 123.3

17.8 17.4 16.2 15.7

102.2 107.3 90.9 107.5

436.1 440.7 444.5 446.0

26.5 25.8 25.0 25.5

23.9 23.2 22.5 23.0

2.6 2.5 2.5 2.5

18.4 18.2 18.6 22.3

0.1 0.2 0.3 -1.1

1993 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 174.4 1 218.1 1 226.8 1 270.9

674.6 709.6 715.5 753.9

481.4 502.8 511.7 526.1

62.5 65.1 65.7 73.4

43.9 44.9 45.2 53.5

127.8 139.0 135.4 151.6

16.4 16.0 15.7 15.8

111.4 123.1 119.7 135.8

454.3 461.9 465.8 472.2

26.9 26.9 26.5 24.6

24.3 24.2 23.8 21.8

2.6 2.7 2.7 2.7

21.0 20.8 20.8 21.9

-2.5 -1.1 -1.9 -1.6

1994 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 272.4 1 326.8 1 331.0 1 353.0

741.0 789.4 789.4 807.8

523.3 553.7 542.3 551.4

75.9 79.0 80.9 81.7

55.3 57.8 58.9 59.8

138.9 153.5 163.1 171.4

18.6 19.5 20.9 22.9

120.3 134.0 142.1 148.6

484.1 491.9 496.0 502.7

23.9 23.4 23.4 22.8

21.1 20.6 20.7 20.2

2.8 2.8 2.7 2.6

23.3 22.0 22.7 21.1

0.1 0.1 -0.5 -1.4

1995 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 373.8 1 407.3 1 415.2 1 429.8

817.7 848.1 852.5 862.0

564.6 590.6 586.8 601.8

76.9 76.1 75.8 74.8

56.9 56.1 56.1 55.1

172.6 177.7 185.8 181.2

22.8 23.8 23.6 23.3

149.8 154.0 162.1 157.8

511.9 516.3 521.8 526.8

22.9 23.8 23.1 25.0

20.6 21.5 20.6 22.2

2.3 2.3 2.5 2.8

20.5 19.5 18.9 17.6

0.8 -0.4 -1.1 -1.6

1996 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 470.5 1 519.0 1 529.5 1 577.0

896.1 936.4 937.5 959.6

631.3 668.1 669.2 685.2

73.0 71.5 72.1 76.3

52.9 52.2 52.4 58.6

187.2 192.0 190.9 192.4

19.9 20.0 20.1 20.3

167.3 172.0 170.8 172.0

531.4 539.6 546.6 553.5

26.4 26.4 27.7 27.2

22.9 22.6 23.5 22.8

3.5 3.8 4.2 4.4

18.1 18.3 18.8 37.2

-1.6 -1.7 -1.1 -0.5

1997 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 600.2 1 636.3 1 672.8 1 703.1

990.0 1 017.7 1 046.8 1 067.9

718.0 733.5 751.8 774.0

72.3 80.1 80.3 80.1

53.3 59.6 60.5 60.8

194.9 199.3 209.6 208.2

20.0 20.5 20.9 21.3

174.9 178.8 188.8 186.9

564.5 571.3 579.4 590.2

27.0 27.0 25.7 23.9

22.5 22.4 21.3 19.6

4.5 4.5 4.5 4.4

19.3 19.6 20.4 20.4

-0.6 0.8 0.5 0.7

1998 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 731.4 1 758.1 1 792.4 1 813.2

1 086.0 1 104.9 1 131.4 1 145.1

796.1 816.5 836.3 854.5

79.9 80.5 81.8 82.1

60.5 60.9 62.0 62.6

205.2 202.8 207.7 201.3

26.4 26.6 26.8 26.6

178.9 176.2 181.0 174.7

600.9 609.4 618.2 626.7

22.5 21.8 20.9 20.8

18.3 17.9 17.2 17.4

4.1 3.9 3.7 3.5

21.2 21.4 21.8 21.8

1.0 0.7 0.1 -1.4

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 843.6 1 869.5 1 900.2 1 951.6

1 157.5 1 179.2 1 203.9 1 242.4

864.1 879.7 899.5 928.7

81.7 82.1 84.2 87.5

63.5 64.2 64.5 66.5

206.3 211.4 213.9 220.2

24.0 24.6 25.3 27.7

182.3 186.8 188.5 192.5

643.0 647.1 652.6 663.9

20.8 21.2 21.5 22.3

17.7 17.9 18.0 18.4

3.2 3.4 3.5 3.8

21.9 22.1 22.5 24.2

0.4 -0.2 -0.4 -1.2

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 035.7 2 044.9 2 066.8 2 068.0

1 301.9 1 309.4 1 322.6 1 320.4

975.4 987.4 1 011.7 1 021.7

86.7 88.9 88.1 87.5

66.7 67.0 66.5 66.5

233.0 225.5 215.6 203.7

24.7 25.0 25.6 26.1

208.3 200.6 189.9 177.6

685.3 685.6 696.5 699.4

24.5 25.5 25.0 25.9

20.1 20.7 19.6 19.9

4.4 4.8 5.4 6.0

24.8 25.3 25.8 26.7

-0.8 -0.9 -3.1 -4.5

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 089.2 2 080.5 1 895.4 1 999.6

1 323.0 1 315.6 1 132.0 1 238.1

1 047.3 1 045.7 881.0 1 004.1

87.6 86.9 84.2 84.6

65.8 66.3 64.3 64.4

180.7 176.6 159.7 141.6

29.6 28.0 26.6 24.3

151.1 148.7 133.2 117.4

716.4 718.1 717.9 717.6

26.4 25.2 24.4 23.5

19.8 18.6 17.9 17.3

6.6 6.7 6.5 6.2

27.2 27.3 27.1 26.6

-3.8 -5.7 -6.1 -6.2

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 845.9 1 854.1 1 856.1 1 856.6

1 071.3 1 077.5 1 075.4 1 078.0

843.1 835.2 825.8 818.0

84.9 87.7 88.5 88.0

66.3 68.0 67.9 67.2

136.3 147.4 153.9 164.2

25.0 25.3 24.4 23.2

111.3 122.1 129.5 141.0

732.1 735.5 735.0 734.4

21.1 20.1 19.8 19.9

15.8 15.0 15.2 15.5

5.3 5.1 4.7 4.4

25.7 24.9 24.5 24.0

-4.3 -3.9 1.4 0.3

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 881.4 1 896.3 1 808.9 1 887.9

1 084.4 1 089.6 994.5 1 068.2

806.7 811.2 708.8 770.6

90.1 89.7 88.8 90.2

68.6 68.5 67.4 68.6

180.7 178.8 189.1 198.1

23.9 22.7 21.2 20.2

156.7 156.1 167.9 177.9

749.0 756.4 762.9 768.0

19.5 22.8 24.0 24.6

14.8 16.4 16.7 17.0

4.7 6.4 7.3 7.6

24.8 25.5 26.2 26.5

3.7 2.1 1.4 0.6

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 917.8 1 951.4 1 975.4 2 054.6

1 080.7 1 108.1 1 119.4 1 181.3

771.3 786.3 810.0 839.7

93.4 93.4 94.0 95.1

71.0 70.4 70.7 70.7

206.9 219.9 207.5 235.3

17.3 17.2 18.0 19.9

189.7 202.7 189.5 215.4

787.2 793.5 806.0 823.4

22.0 21.5 21.8 22.2

15.0 15.0 15.5 15.6

6.9 6.5 6.3 6.6

27.6 28.1 28.7 30.0

0.3 0.3 -0.4 -2.3

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

421

Table 19-8. Federal Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.2 Current expenditures Government social benefits Year and quarter Total

Consumption expenditures

Total 1

To persons

1

Net federal government saving, NIPA (surplus + / deficit -)

Other current transfer payments

Total 1

Grants-inaid to state and local governments

Interest payments

Total

To persons To the rest and of the world business

Subsidies

Total

Social insurance funds

Other

1991 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 245.4 1 307.4 1 339.8 1 367.4

443.8 442.2 438.1 433.9

480.9 491.2 495.0 509.5

479.1 489.3 493.1 506.5

46.1 96.0 129.0 142.7

122.8 128.1 134.9 140.6

248.2 251.0 250.7 253.9

206.4 210.1 209.7 214.1

41.8 40.9 41.1 39.7

26.5 26.6 26.9 27.5

-158.4 -211.7 -232.7 -252.1

29.7 25.0 27.1 20.9

-188.1 -236.6 -259.7 -273.1

1992 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 415.3 1 435.4 1 453.7 1 473.9

439.2 441.1 450.1 450.3

539.5 551.2 555.5 560.7

538.0 548.5 553.5 559.1

156.9 161.9 166.6 182.5

143.2 146.2 152.4 154.6

251.7 252.6 251.8 248.9

212.6 213.3 212.6 210.2

39.2 39.3 39.1 38.8

28.0 28.6 29.8 31.6

-288.5 -291.7 -316.1 -293.4

8.8 4.5 6.5 6.2

-297.3 -296.3 -322.6 -299.6

1993 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 475.0 1 486.1 1 500.8 1 522.2

442.7 440.0 441.2 443.7

574.1 580.4 585.4 589.5

572.7 578.4 583.4 587.5

169.9 174.8 183.0 201.6

156.3 159.3 165.0 174.1

253.4 253.9 254.2 252.0

214.6 215.2 214.3 211.9

38.8 38.7 39.8 40.1

34.8 36.9 37.0 35.4

-300.6 -268.0 -274.0 -251.3

3.6 5.8 4.9 8.3

-304.3 -273.8 -278.9 -259.5

1994 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 504.6 1 517.2 1 542.3 1 568.6

437.8 438.4 446.7 440.4

600.4 604.3 610.0 615.7

599.0 602.9 606.3 613.9

183.0 185.3 190.1 207.9

171.2 171.6 174.9 181.2

250.4 257.5 264.3 273.2

209.7 215.1 219.8 224.0

40.7 42.3 44.6 49.1

32.9 31.7 31.2 31.4

-232.2 -190.3 -211.3 -215.5

13.4 18.1 18.0 22.4

-245.5 -208.4 -229.3 -237.9

1995 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 589.0 1 602.6 1 613.9 1 608.5

442.9 442.6 443.5 432.8

631.9 640.3 646.0 652.6

630.7 638.2 643.9 650.5

198.0 196.0 197.1 194.0

185.0 184.9 185.1 181.6

283.1 290.2 293.4 294.9

234.8 237.5 237.4 236.6

48.3 52.7 56.0 58.3

33.0 33.5 34.0 34.3

-215.2 -195.3 -198.7 -178.7

20.7 17.9 18.6 18.8

-235.9 -213.2 -217.3 -197.5

1996 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 652.6 1 662.1 1 662.6 1 685.7

443.6 447.6 442.2 451.7

672.0 678.5 682.2 687.4

669.7 676.4 680.1 685.3

205.8 207.0 206.0 214.2

186.1 195.0 193.2 190.3

296.9 294.8 298.3 298.9

237.2 232.0 231.2 227.6

59.7 62.8 67.2 71.4

34.3 34.2 33.9 33.5

-182.1 -143.1 -133.1 -108.7

8.6 11.7 16.3 19.2

-190.6 -154.9 -149.4 -127.8

1997 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 689.4 1 705.4 1 707.8 1 733.1

453.2 461.7 457.2 458.5

702.8 706.0 707.7 708.9

700.7 703.7 705.7 706.7

202.9 206.1 209.7 231.2

192.4 195.5 198.4 208.2

297.5 299.3 301.1 302.0

223.1 221.6 220.4 220.3

74.4 77.7 80.7 81.7

33.0 32.3 32.1 32.4

-89.2 -69.1 -35.0 -30.0

20.9 25.6 33.0 42.8

-110.1 -94.7 -68.0 -72.8

1998 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 718.4 1 729.2 1 732.0 1 760.2

447.7 457.9 451.0 461.8

716.7 718.0 720.5 721.4

714.4 715.6 718.3 719.1

218.7 218.2 225.9 246.6

207.9 208.1 213.0 222.0

302.3 301.2 299.3 292.6

220.9 220.1 220.1 217.1

81.3 81.2 79.2 75.5

33.1 33.7 35.3 37.7

13.0 28.9 60.4 53.0

46.2 54.8 62.1 72.9

-33.2 -25.8 -1.7 -19.9

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 764.2 1 764.8 1 792.4 1 828.9

467.0 463.9 477.6 491.8

733.4 736.5 739.3 742.9

731.0 734.2 736.9 740.6

238.5 237.4 250.2 265.9

227.0 223.7 237.6 243.2

284.4 283.3 280.1 282.8

210.6 210.4 205.2 206.2

73.8 72.9 75.0 76.5

40.9 43.6 45.2 45.4

79.4 104.6 107.8 122.7

85.5 89.5 95.3 105.9

-6.1 15.1 12.5 16.9

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 823.0 1 863.5 1 875.5 1 895.5

485.7 505.1 501.5 505.0

756.1 771.8 776.8 785.1

753.7 769.3 774.2 782.6

252.1 257.0 271.1 282.2

239.0 242.8 255.0 252.6

285.1 285.7 282.5 279.6

205.6 203.5 198.6 193.5

79.6 82.2 83.9 86.2

43.9 43.8 43.7 43.5

212.7 181.4 191.2 172.5

117.7 105.3 114.1 112.2

95.0 76.1 77.1 60.2

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

1 932.6 1 956.9 1 984.0 2 004.3

518.4 528.0 532.7 548.4

817.3 831.2 849.4 867.6

814.6 828.5 846.7 865.0

278.1 290.1 286.1 305.8

266.5 278.3 272.8 286.6

274.5 263.7 253.3 242.8

188.6 178.7 173.4 164.0

85.9 85.0 80.0 78.8

44.3 44.0 62.5 39.7

156.6 123.6 -88.6 -4.7

102.6 95.2 80.9 69.3

54.0 28.4 -169.5 -74.1

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 054.4 2 095.5 2 103.4 2 151.1

571.3 585.0 591.4 618.5

896.4 922.8 927.0 932.2

893.7 920.1 924.3 929.5

318.7 317.9 320.6 336.3

291.4 303.1 306.6 317.2

229.9 233.3 227.7 225.4

150.8 155.6 151.8 151.5

79.1 77.7 76.0 73.9

38.1 36.5 36.7 38.7

-208.5 -241.4 -247.3 -294.6

64.9 46.1 44.0 40.6

-273.4 -287.5 -291.3 -335.1

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 177.4 2 270.1 2 265.1 2 292.9

634.7 667.6 668.4 676.8

946.7 962.3 971.1 980.1

943.9 959.5 968.2 977.2

338.3 369.8 368.0 374.7

313.2 344.6 344.4 354.0

217.0 214.9 212.2 216.8

144.7 143.6 138.5 140.3

72.3 71.3 73.7 76.6

42.0 54.2 45.5 44.4

-296.0 -373.8 -456.2 -405.0

45.4 39.6 39.6 38.4

-341.4 -413.5 -495.7 -443.4

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 347.2 2 364.9 2 387.0 2 426.2

710.7 721.1 735.7 735.1

1 003.2 1 010.3 1 019.9 1 034.9

1 000.2 1 007.3 1 017.0 1 031.7

376.1 372.3 364.1 384.1

342.6 349.9 341.9 358.7

216.9 218.4 224.5 226.1

136.2 130.4 131.4 128.9

80.7 88.0 93.1 97.2

41.8 41.3 42.8 46.1

-429.3 -413.4 -411.6 -371.6

45.0 47.8 54.3 61.5

-474.3 -461.2 -465.9 -433.2

1Includes

components not shown separately.

422

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-9. State and Local Government Current Receipts and Expenditures (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts Current tax receipts Year and quarter

Personal current taxes

Total Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

14.1 14.7 15.1 15.6

11.5 11.8 12.2 12.7

1.0 1.0 1.0 1.0

... ... ... ...

9.9 10.2 10.6 11.1

... ... ... ...

... ... ... ...

... ... ... ...

0.6 0.6 0.6 0.6

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.4

... ... ... ...

0.1 0.1 0.1 0.1

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

16.1 16.6 17.0 17.3

13.2 13.6 13.9 14.1

1.1 1.1 1.1 1.1

... ... ... ...

11.4 11.7 12.1 12.3

... ... ... ...

... ... ... ...

... ... ... ...

0.7 0.7 0.7 0.7

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.5

... ... ... ...

0.2 0.2 0.2 0.2

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

17.7 17.9 18.7 18.8

14.6 14.8 15.2 15.4

1.3 1.4 1.4 1.4

... ... ... ...

12.6 12.9 13.2 13.4

... ... ... ...

... ... ... ...

... ... ... ...

0.7 0.6 0.6 0.6

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.5

... ... ... ...

0.2 0.2 0.2 0.2

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

19.2 19.7 20.4 20.6

15.8 16.1 16.9 17.1

1.5 1.5 1.5 1.5

... ... ... ...

13.7 14.0 14.6 14.6

... ... ... ...

... ... ... ...

... ... ... ...

0.6 0.7 0.9 0.9

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.6

... ... ... ...

0.2 0.2 0.2 0.2

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

21.7 21.6 21.9 22.5

17.9 17.8 18.1 18.6

1.6 1.7 1.7 1.7

... ... ... ...

15.3 15.3 15.6 16.0

... ... ... ...

... ... ... ...

... ... ... ...

1.0 0.9 0.8 0.8

0.2 0.2 0.2 0.2

0.6 0.6 0.6 0.6

... ... ... ...

0.2 0.2 0.2 0.2

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

22.9 23.4 24.0 24.6

19.0 19.4 19.8 20.4

1.8 1.8 1.8 1.8

... ... ... ...

16.3 16.8 17.2 17.7

... ... ... ...

... ... ... ...

... ... ... ...

0.8 0.8 0.8 0.9

0.3 0.3 0.3 0.3

0.6 0.7 0.7 0.7

... ... ... ...

0.2 0.2 0.2 0.2

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

24.6 25.8 25.8 25.9

20.7 21.0 21.4 21.4

1.9 1.9 2.0 2.0

... ... ... ...

18.0 18.2 18.6 18.8

... ... ... ...

... ... ... ...

... ... ... ...

0.9 0.9 0.8 0.7

0.3 0.3 0.3 0.3

0.7 0.7 0.7 0.7

... ... ... ...

0.3 0.3 0.3 0.3

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

26.4 26.6 27.1 27.6

21.7 22.0 22.4 22.8

2.1 2.1 2.1 2.1

... ... ... ...

19.0 19.2 19.5 19.9

... ... ... ...

... ... ... ...

... ... ... ...

0.7 0.7 0.8 0.8

0.3 0.3 0.3 0.3

0.8 0.8 0.8 0.8

... ... ... ...

0.3 0.3 0.3 0.3

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

28.3 29.0 29.8 30.4

23.6 24.0 24.7 25.3

2.4 2.4 2.4 2.4

... ... ... ...

20.3 20.7 21.3 21.9

... ... ... ...

... ... ... ...

... ... ... ...

0.9 0.9 1.0 1.0

0.3 0.3 0.3 0.3

0.8 0.8 0.9 0.9

... ... ... ...

0.3 0.3 0.3 0.3

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

31.3 32.0 32.8 33.4

26.1 26.8 27.3 27.8

2.7 2.7 2.7 2.7

... ... ... ...

22.4 23.0 23.6 24.1

... ... ... ...

... ... ... ...

... ... ... ...

1.0 1.1 1.0 1.1

0.4 0.4 0.4 0.4

0.9 1.0 1.0 1.0

... ... ... ...

0.3 0.3 0.3 0.3

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

34.4 34.7 35.3 35.6

28.5 28.9 29.3 29.3

2.9 2.9 2.9 2.9

... ... ... ...

24.6 25.0 25.4 25.5

... ... ... ...

... ... ... ...

... ... ... ...

1.1 1.0 1.0 0.9

0.4 0.4 0.4 0.4

1.1 1.1 1.1 1.1

... ... ... ...

0.3 0.3 0.3 0.3

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

35.7 36.5 37.2 38.9

29.7 30.1 30.8 31.7

3.0 3.0 3.1 3.1

1.8 1.8 1.8 1.8

25.8 26.1 26.7 27.4

9.8 9.8 10.0 10.3

13.4 13.6 13.9 14.2

2.7 2.7 2.8 3.0

0.9 0.9 1.0 1.2

0.4 0.4 0.4 0.4

1.1 1.1 1.1 1.2

0.7 0.8 0.8 0.8

0.4 0.4 0.4 0.4

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

39.1 40.1 41.3 42.1

32.7 33.2 34.4 35.1

3.6 3.7 4.0 4.0

2.0 2.1 2.4 2.4

27.9 28.2 29.3 30.0

10.7 10.9 11.4 11.5

14.4 14.5 14.9 15.4

2.8 2.9 2.9 3.0

1.2 1.3 1.1 1.1

0.4 0.4 0.4 0.4

1.1 1.1 1.1 1.2

0.8 0.8 0.9 0.9

0.3 0.3 0.3 0.3

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

43.3 44.2 44.8 45.5

36.0 36.7 37.3 37.9

4.2 4.2 4.3 4.3

2.5 2.5 2.6 2.6

30.4 31.2 31.8 32.4

11.8 12.1 12.3 12.4

15.6 16.0 16.5 16.9

3.1 3.1 3.1 3.1

1.4 1.3 1.2 1.1

0.4 0.4 0.5 0.5

1.3 1.4 1.3 1.3

1.1 1.1 1.0 1.0

0.3 0.3 0.3 0.3

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

46.5 47.6 48.6 49.6

38.4 39.2 40.1 41.0

4.3 4.5 4.6 4.7

2.6 2.7 2.9 3.0

32.9 33.4 34.1 34.8

12.6 12.8 13.2 13.6

17.2 17.5 17.7 18.0

3.2 3.2 3.2 3.2

1.2 1.2 1.3 1.4

0.5 0.5 0.5 0.5

1.4 1.4 1.4 1.4

1.0 1.1 1.1 1.1

0.4 0.4 0.4 0.4

1Includes

components not shown separately. . . . = Not available.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

423

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts—Continued

Current expenditures

Current transfer receipts Year and quarter Total

Federal grants-inaid

From business (net)

From persons

Current surplus of government enterprises

Total 1

Net state and local government saving, NIPA (surplus + / deficit -)

GovernConsumption expen- ment social Interest benefits to payments ditures persons

Subsidies

Total

Social insurance funds

Other

1947 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.6 1.9 1.9 1.9

1.4 1.7 1.6 1.6

0.1 0.1 0.1 0.1

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.4

12.5 13.1 14.0 14.3

10.3 10.7 11.1 11.5

1.6 1.9 2.4 2.3

0.5 0.5 0.5 0.5

... ... ... ...

1.6 1.6 1.1 1.3

... ... ... ...

... ... ... ...

1948 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1.9 2.0 2.1 2.2

1.6 1.7 1.8 1.9

0.1 0.1 0.1 0.1

0.2 0.2 0.3 0.3

0.4 0.3 0.3 0.3

15.1 15.4 15.8 15.8

11.8 12.0 12.5 13.0

2.8 2.8 2.7 2.4

0.5 0.5 0.5 0.5

... ... ... ...

1.0 1.2 1.2 1.5

... ... ... ...

... ... ... ...

1949 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.1 2.0 2.5 2.3

1.7 1.7 2.1 1.9

0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3

0.4 0.4 0.4 0.4

16.2 16.5 17.1 17.5

13.3 13.4 13.8 14.1

2.5 2.6 2.7 2.9

0.5 0.5 0.5 0.5

... ... ... ...

1.5 1.4 1.6 1.3

... ... ... ...

... ... ... ...

1950 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.3 2.3 2.3 2.3

1.9 1.9 1.9 1.9

0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3

0.4 0.4 0.4 0.4

18.2 18.9 18.6 18.8

14.5 14.7 15.0 15.3

3.2 3.7 3.0 2.9

0.6 0.6 0.6 0.6

... ... ... ...

1.0 0.7 1.8 1.8

... ... ... ...

... ... ... ...

1951 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.5 2.5 2.4 2.6

2.0 2.1 1.9 2.1

0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3

0.5 0.5 0.5 0.5

19.0 19.1 19.5 19.8

15.6 15.9 16.2 16.6

2.8 2.6 2.6 2.6

0.6 0.6 0.6 0.7

... ... ... ...

2.7 2.5 2.4 2.7

... ... ... ...

... ... ... ...

1952 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.5 2.5 2.7 2.7

2.0 2.1 2.3 2.3

0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3

0.5 0.5 0.5 0.5

20.0 21.0 20.7 21.2

16.5 17.3 17.1 17.5

2.8 3.0 2.9 2.9

0.7 0.7 0.7 0.7

... ... ... ...

2.9 2.4 3.3 3.4

... ... ... ...

... ... ... ...

1953 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.3 3.2 2.8 2.8

1.8 2.7 2.3 2.3

0.1 0.1 0.1 0.2

0.3 0.3 0.4 0.4

0.5 0.5 0.6 0.6

21.7 21.8 22.3 22.3

18.0 18.0 18.4 18.5

2.9 3.0 3.1 2.9

0.7 0.8 0.8 0.8

... ... ... ...

2.9 4.0 3.5 3.6

... ... ... ...

... ... ... ...

1954 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.9 2.8 2.9 2.9

2.3 2.3 2.4 2.3

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.4

0.6 0.7 0.7 0.7

22.8 23.4 24.1 24.5

18.9 19.4 20.1 20.4

3.0 3.0 3.1 3.1

0.9 0.9 0.9 1.0

... ... ... ...

3.6 3.3 3.0 3.1

... ... ... ...

... ... ... ...

1955 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

2.8 2.9 3.1 3.0

2.3 2.4 2.5 2.4

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.4

0.8 0.8 0.9 0.9

25.3 25.7 26.0 26.5

21.1 21.3 21.7 22.1

3.2 3.3 3.3 3.2

1.0 1.1 1.1 1.1

... ... ... ...

3.0 3.3 3.8 3.9

... ... ... ...

... ... ... ...

1956 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.0 3.1 3.3 3.3

2.4 2.5 2.6 2.7

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.5

0.9 0.9 0.9 0.9

27.0 27.6 28.3 29.0

22.6 23.1 23.8 24.4

3.3 3.2 3.3 3.4

1.2 1.2 1.3 1.3

... ... ... ...

4.3 4.5 4.5 4.3

... ... ... ...

... ... ... ...

1957 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.6 3.5 3.7 3.8

2.9 2.8 2.9 3.1

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.5

0.9 0.9 0.9 0.9

29.6 30.4 31.3 32.0

24.8 25.5 26.2 26.8

3.5 3.5 3.6 3.7

1.3 1.4 1.4 1.5

... ... ... ...

4.8 4.3 4.1 3.6

... ... ... ...

... ... ... ...

1958 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.6 4.1 3.9 4.7

2.9 3.3 3.2 4.0

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.5

0.9 0.9 0.9 0.9

33.0 33.9 34.6 35.3

27.6 28.4 29.0 29.5

4.0 4.0 4.0 4.1

1.5 1.5 1.6 1.6

... ... ... ...

2.7 2.6 2.6 3.6

0.1 0.0 0.0 0.0

2.6 2.5 2.6 3.6

1959 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

3.9 4.3 4.2 4.2

3.5 3.9 3.8 3.8

0.1 0.1 0.1 0.1

0.3 0.3 0.3 0.3

1.0 1.1 1.2 1.2

36.1 36.5 37.1 37.8

30.0 30.5 30.9 31.5

4.3 4.3 4.3 4.4

1.7 1.7 1.8 1.9

0.0 0.0 0.0 0.0

3.1 3.6 4.2 4.3

0.0 0.0 0.0 0.0

3.0 3.5 4.1 4.3

1960 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.3 4.4 4.5 4.7

3.9 4.0 4.0 4.2

0.2 0.2 0.2 0.2

0.3 0.3 0.3 0.3

1.2 1.3 1.3 1.3

39.0 40.0 40.5 41.2

32.5 33.4 33.8 34.5

4.4 4.5 4.6 4.7

2.1 2.1 2.0 2.0

0.0 0.0 0.0 0.0

4.3 4.2 4.3 4.4

0.0 0.0 0.0 0.0

4.3 4.2 4.3 4.3

1961 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

4.9 5.2 5.3 5.4

4.2 4.5 4.6 4.7

0.2 0.2 0.2 0.2

0.4 0.4 0.4 0.5

1.3 1.4 1.3 1.4

42.4 43.6 44.1 45.0

35.5 36.5 36.8 37.5

4.9 4.9 5.0 5.1

2.0 2.2 2.3 2.4

0.0 0.0 0.0 0.0

4.1 4.0 4.5 4.6

0.0 0.0 0.0 0.0

4.1 4.0 4.4 4.6

1Includes

components not shown separately. . . . = Not available.

424

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts Current tax receipts Year and quarter

Personal current taxes

Total Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

50.7 51.5 52.5 53.3

41.8 42.4 43.1 43.8

4.9 5.0 5.1 5.2

3.1 3.1 3.2 3.3

35.5 36.0 36.5 37.1

13.9 13.9 14.0 14.2

18.3 18.7 19.2 19.6

3.2 3.3 3.3 3.3

1.5 1.5 1.5 1.5

0.5 0.5 0.6 0.6

1.5 1.5 1.6 1.5

1.1 1.1 1.2 1.1

0.4 0.4 0.4 0.4

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

54.1 55.3 56.8 57.9

44.4 45.2 46.3 47.1

5.3 5.3 5.5 5.6

3.3 3.3 3.5 3.6

37.6 38.3 39.1 39.8

14.3 14.7 15.3 15.6

19.9 20.1 20.4 20.6

3.4 3.5 3.5 3.5

1.5 1.6 1.7 1.7

0.6 0.6 0.6 0.7

1.5 1.6 1.7 1.7

1.1 1.2 1.3 1.3

0.4 0.4 0.4 0.4

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

59.7 60.7 61.7 62.9

48.3 49.2 50.5 51.1

5.8 6.0 6.2 6.4

3.7 4.0 4.1 4.2

40.7 41.4 42.4 42.9

16.1 16.3 16.7 16.7

21.0 21.4 21.9 22.4

3.6 3.7 3.7 3.8

1.8 1.8 1.9 1.8

0.7 0.7 0.7 0.7

1.8 2.0 1.9 2.0

1.4 1.5 1.5 1.5

0.4 0.4 0.4 0.4

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

64.1 65.9 67.3 68.9

52.2 53.2 54.4 55.7

6.5 6.5 6.6 6.8

4.3 4.4 4.4 4.5

43.8 44.7 45.8 46.8

17.2 17.8 18.5 19.2

22.8 23.1 23.3 23.6

3.8 3.9 4.0 4.0

1.9 1.9 2.0 2.1

0.7 0.8 0.8 0.8

2.1 2.2 2.2 2.3

1.6 1.8 1.7 1.8

0.4 0.4 0.4 0.4

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

71.8 74.1 76.1 77.7

56.9 58.0 59.5 60.6

7.1 7.6 8.0 8.4

4.8 5.2 5.6 6.0

47.5 48.2 49.2 50.1

19.5 19.7 20.2 20.4

23.9 24.3 24.7 25.2

4.1 4.2 4.3 4.5

2.3 2.3 2.2 2.2

0.8 0.8 0.8 0.8

2.5 2.6 2.7 2.7

2.0 2.0 2.2 2.2

0.5 0.5 0.5 0.5

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

79.2 80.7 83.3 86.8

61.6 62.5 64.8 67.0

8.3 8.3 8.7 9.0

5.9 5.9 6.2 6.5

50.7 51.7 53.5 55.2

20.4 20.7 21.8 22.7

25.8 26.6 27.3 28.1

4.4 4.4 4.5 4.4

2.6 2.6 2.6 2.7

0.9 0.9 0.9 0.9

2.8 2.8 3.1 3.3

2.2 2.2 2.5 2.7

0.6 0.6 0.6 0.6

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

89.3 92.9 94.6 97.3

70.2 72.3 74.6 76.5

9.7 10.3 10.8 11.4

7.1 7.6 8.1 8.5

57.2 58.7 60.4 61.8

23.8 24.6 25.6 26.2

28.9 29.6 30.3 30.9

4.5 4.6 4.6 4.6

3.2 3.3 3.3 3.4

0.9 0.9 1.0 1.0

3.4 3.4 3.5 3.7

2.6 2.7 2.8 3.0

0.7 0.7 0.7 0.7

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

100.1 103.4 107.5 110.9

79.0 81.1 83.9 85.9

11.9 12.3 13.4 13.7

8.9 9.3 10.3 10.5

63.3 65.1 67.0 68.8

27.1 28.1 29.1 29.9

31.6 32.3 33.1 34.1

4.7 4.7 4.7 4.8

3.8 3.7 3.5 3.4

1.0 1.0 1.0 1.1

4.0 4.2 4.5 4.7

3.2 3.5 3.7 3.9

0.8 0.8 0.8 0.8

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

115.1 118.6 122.2 124.5

88.4 90.3 92.5 94.0

14.0 14.1 14.3 14.4

10.8 10.9 11.0 11.0

70.6 72.4 74.3 76.0

30.6 31.3 32.1 32.6

35.1 36.2 37.2 38.2

4.9 4.9 5.0 5.2

3.8 3.7 3.8 3.6

1.1 1.1 1.1 1.1

4.9 5.1 5.2 5.3

4.1 4.3 4.4 4.5

0.8 0.8 0.8 0.8

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

128.5 133.2 136.7 141.3

97.1 100.0 103.2 106.5

14.7 15.6 16.0 17.3

11.3 12.2 12.5 13.8

78.3 80.2 82.8 84.7

33.6 34.5 36.1 37.3

39.2 40.1 40.9 41.6

5.5 5.6 5.8 5.9

4.1 4.2 4.4 4.5

1.1 1.2 1.2 1.2

5.4 5.5 5.5 5.5

4.5 4.6 4.6 4.6

0.9 0.9 0.9 0.9

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

147.2 159.4 154.9 172.3

110.9 114.5 116.8 120.1

19.5 21.0 21.2 21.8

15.9 17.3 17.5 18.1

86.4 88.5 90.4 92.5

38.1 39.4 40.3 41.4

42.2 42.8 43.6 44.4

6.1 6.3 6.5 6.7

5.0 5.0 5.2 5.7

1.3 1.3 1.3 1.4

5.7 5.8 6.0 6.3

4.7 4.8 5.0 5.3

1.0 1.0 1.0 1.0

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

171.0 172.4 175.1 178.9

123.0 124.7 127.6 129.7

21.9 22.3 23.1 24.0

18.0 18.4 19.1 19.9

95.1 96.3 98.7 99.6

43.0 43.3 44.9 45.1

45.3 46.1 46.8 47.3

6.8 6.9 7.0 7.2

6.0 6.1 5.9 6.1

1.4 1.5 1.5 1.6

6.9 7.4 8.0 8.7

5.8 6.3 6.9 7.5

1.1 1.1 1.1 1.1

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

180.4 185.8 192.0 194.0

130.6 134.7 139.3 139.6

23.3 24.1 25.2 25.6

19.2 19.9 21.0 21.3

101.0 104.0 106.8 107.5

45.7 47.8 49.7 49.4

47.8 48.5 49.3 50.3

7.5 7.7 7.8 7.8

6.3 6.6 7.3 6.5

1.6 1.6 1.7 1.7

9.4 10.0 10.5 10.8

8.1 8.7 9.2 9.5

1.3 1.3 1.3 1.3

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

198.3 207.6 213.8 218.6

140.9 144.8 150.3 153.9

25.7 26.5 27.2 28.2

21.4 22.1 22.7 23.6

109.0 111.7 114.9 117.3

49.5 50.8 52.6 53.8

51.6 52.8 54.0 55.2

7.9 8.1 8.3 8.2

6.1 6.6 8.2 8.4

1.8 1.8 1.9 2.0

11.2 11.3 11.2 11.0

9.9 9.9 9.8 9.6

1.3 1.3 1.3 1.3

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

225.8 230.2 234.9 243.8

160.0 163.7 167.3 171.9

29.5 30.6 31.6 32.6

24.8 25.8 26.7 27.7

120.9 123.5 126.0 129.6

55.9 57.2 58.0 60.0

56.4 57.7 58.9 60.0

8.5 8.7 9.2 9.6

9.7 9.6 9.7 9.6

2.0 2.1 2.2 2.3

10.5 10.4 10.3 10.5

9.1 9.0 9.0 9.1

1.3 1.3 1.3 1.3

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

425

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts—Continued

Current expenditures

Current transfer receipts Year and quarter Total

Federal grants-inaid

From business (net)

From persons

Current surplus of government enterprises

Total 1

Net state and local government saving, NIPA (surplus + / deficit -)

GovernConsumption expen- ment social Interest benefits to payments ditures persons

Subsidies

Total

Social insurance funds

Other

1962 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

5.6 5.6 5.9 5.9

4.9 4.9 5.2 5.2

0.2 0.2 0.2 0.2

0.5 0.5 0.5 0.5

1.3 1.4 1.4 1.5

45.8 46.5 47.0 47.8

38.1 38.7 39.2 39.9

5.2 5.3 5.3 5.5

2.4 2.4 2.5 2.4

0.0 0.0 0.0 0.0

4.9 5.0 5.5 5.5

0.0 0.0 0.0 0.0

4.9 5.0 5.5 5.5

1963 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

6.0 6.2 6.5 6.8

5.3 5.5 5.8 6.1

0.3 0.3 0.3 0.3

0.5 0.5 0.5 0.5

1.6 1.6 1.7 1.6

48.7 49.7 50.8 52.0

40.7 41.5 42.3 43.3

5.6 5.7 5.7 5.8

2.5 2.6 2.7 2.9

0.0 0.0 0.0 0.0

5.4 5.5 6.0 5.9

0.0 0.0 0.0 0.0

5.3 5.5 6.0 5.8

1964 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.3 7.3 7.0 7.4

6.5 6.5 6.2 6.6

0.3 0.3 0.3 0.3

0.5 0.5 0.5 0.5

1.6 1.6 1.7 1.7

53.2 54.5 55.3 56.5

44.4 45.3 46.2 47.2

6.0 6.1 6.2 6.4

2.9 3.0 2.8 2.9

0.0 0.0 0.0 0.0

6.4 6.3 6.5 6.4

0.0 0.0 0.1 0.1

6.4 6.2 6.4 6.3

1965 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

7.4 7.9 8.3 8.5

6.5 7.1 7.5 7.6

0.3 0.3 0.3 0.3

0.5 0.5 0.5 0.6

1.7 1.7 1.7 1.7

57.8 59.3 60.8 62.1

48.3 49.5 50.9 52.1

6.5 6.6 6.7 6.8

3.0 3.2 3.2 3.2

0.0 0.0 0.0 0.0

6.2 6.5 6.6 6.8

0.1 0.1 0.1 0.1

6.1 6.4 6.5 6.7

1966 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

10.0 11.1 11.5 11.8

9.0 10.1 10.5 10.7

0.3 0.3 0.3 0.3

0.6 0.7 0.8 0.8

1.6 1.6 1.6 1.6

64.0 66.1 68.2 70.4

53.7 55.2 56.9 58.7

7.0 7.5 7.7 8.2

3.3 3.4 3.5 3.5

0.0 0.0 0.0 0.0

7.7 8.0 8.0 7.3

0.1 0.1 0.1 0.1

7.6 7.9 7.9 7.1

1967 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

12.4 12.9 13.0 14.2

11.1 11.6 11.6 12.7

0.5 0.5 0.5 0.5

0.9 0.9 0.9 1.0

1.6 1.6 1.5 1.5

71.7 73.9 76.9 79.6

60.0 61.5 63.5 65.3

8.4 8.9 9.5 10.1

3.3 3.4 3.8 4.3

0.0 0.0 0.0 0.0

7.5 6.9 6.4 7.2

0.1 0.1 0.1 0.1

7.4 6.7 6.2 7.1

1968 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

13.2 14.8 14.1 14.7

11.8 13.3 12.6 13.2

0.5 0.5 0.5 0.5

1.0 1.0 1.0 1.0

1.6 1.5 1.5 1.5

82.1 84.7 87.2 90.1

67.4 69.2 71.3 73.6

10.6 11.4 11.7 12.1

4.0 4.1 4.2 4.3

0.0 0.0 0.0 0.0

7.2 8.2 7.4 7.2

0.1 0.1 0.1 0.2

7.0 8.1 7.3 7.1

1969 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

14.7 15.6 16.7 17.7

13.1 14.0 15.1 16.1

0.5 0.5 0.5 0.5

1.0 1.1 1.1 1.1

1.5 1.5 1.5 1.5

92.7 95.6 99.0 102.6

75.9 78.4 81.2 83.9

12.6 12.8 13.4 14.0

4.2 4.3 4.4 4.6

0.0 0.0 0.0 0.0

7.4 7.8 8.5 8.2

0.1 0.2 0.2 0.2

7.3 7.6 8.3 8.1

1970 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

19.2 20.6 21.9 22.6

17.5 18.8 20.1 20.8

0.6 0.6 0.6 0.6

1.1 1.2 1.2 1.3

1.5 1.5 1.5 1.5

106.9 110.8 115.1 119.1

87.3 90.0 93.0 95.8

14.7 15.6 16.6 17.5

4.9 5.2 5.4 5.8

0.0 0.0 0.0 0.0

8.2 7.7 7.1 5.4

0.2 0.2 0.2 0.2

8.0 7.5 7.0 5.2

1971 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

23.5 25.1 25.5 26.8

21.6 23.2 23.5 24.7

0.6 0.6 0.6 0.6

1.3 1.4 1.4 1.5

1.4 1.3 1.4 1.4

123.5 127.1 130.2 132.9

99.0 101.6 104.2 106.1

18.3 19.1 19.6 20.3

6.2 6.4 6.7 6.9

0.0 0.0 0.0 0.0

5.0 6.0 6.5 8.4

0.2 0.2 0.2 0.2

4.8 5.8 6.2 8.2

1972 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

28.0 36.2 29.1 42.8

25.7 33.9 26.8 40.4

0.7 0.7 0.7 0.7

1.6 1.6 1.7 1.7

1.5 1.6 1.6 1.6

138.1 140.7 144.8 147.6

109.1 111.6 114.6 117.3

21.2 21.6 22.5 22.5

7.2 7.4 7.6 7.8

0.0 0.1 0.1 0.1

9.1 18.7 10.1 24.6

0.2 0.3 0.3 0.3

8.8 18.4 9.9 24.4

1973 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

38.1 37.2 36.5 37.6

35.6 34.7 33.9 34.9

0.9 0.9 0.9 0.9

1.7 1.7 1.7 1.8

1.6 1.5 1.4 1.3

152.1 156.6 160.5 165.3

120.7 124.2 127.7 131.4

23.2 24.0 24.2 25.0

8.1 8.3 8.6 8.8

0.1 0.1 0.1 0.1

18.9 15.7 14.6 13.6

0.3 0.3 0.3 0.3

18.7 15.4 14.3 13.3

1974 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

37.6 38.4 39.9 41.4

34.6 35.4 36.8 38.2

1.1 1.1 1.1 1.1

1.8 1.9 2.0 2.1

1.2 1.0 0.7 0.5

168.6 175.2 182.0 189.1

136.0 140.9 146.3 151.8

23.4 24.7 25.9 27.1

9.1 9.4 9.8 10.1

0.1 0.1 0.1 0.1

11.8 10.6 10.0 4.9

0.4 0.4 0.4 0.4

11.4 10.3 9.6 4.5

1975 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

44.1 49.4 50.2 51.3

40.7 45.8 46.5 47.5

1.2 1.2 1.2 1.2

2.2 2.3 2.4 2.6

0.3 0.4 0.3 0.5

197.7 205.0 210.3 215.5

157.8 163.5 167.9 171.1

29.2 30.5 31.0 32.6

10.5 10.9 11.3 11.6

0.1 0.2 0.2 0.2

0.6 2.6 3.6 3.1

0.4 0.5 0.5 0.5

0.2 2.1 3.1 2.6

1976 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

52.7 53.6 54.7 58.8

48.7 49.5 50.4 54.4

1.4 1.4 1.4 1.4

2.7 2.8 2.9 3.0

0.5 0.4 0.3 0.3

220.1 223.7 228.6 232.8

174.5 177.8 180.9 184.6

33.4 33.4 34.7 35.0

12.0 12.4 12.7 13.0

0.2 0.2 0.2 0.2

5.7 6.5 6.3 11.0

0.5 0.6 0.6 0.7

5.2 5.9 5.7 10.3

1Includes

components not shown separately.

426

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts Current tax receipts Year and quarter

Personal current taxes

Total Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

247.9 256.3 265.2 270.4

176.9 181.6 186.1 190.3

33.5 34.7 35.9 37.3

28.6 29.8 30.9 32.2

132.9 135.5 138.3 141.1

61.8 63.1 64.7 66.4

61.5 62.8 63.8 64.6

9.5 9.6 9.8 10.0

10.5 11.4 11.8 12.0

2.5 2.7 2.9 3.0

10.9 11.4 11.9 12.5

9.6 10.1 10.6 11.2

1.3 1.3 1.3 1.3

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

277.7 289.5 287.5 295.5

192.1 200.2 197.6 202.7

38.6 40.1 40.9 42.1

33.4 34.7 35.4 36.5

143.0 147.7 144.2 147.6

67.3 70.8 72.0 74.0

65.3 66.1 61.3 62.3

10.4 10.9 10.9 11.3

10.5 12.4 12.5 13.1

3.2 3.3 3.5 3.6

13.2 14.1 15.1 16.2

11.8 12.7 13.7 14.9

1.3 1.3 1.3 1.3

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

298.8 302.8 312.8 319.0

206.3 208.4 214.6 218.8

42.0 42.1 45.4 46.6

36.3 36.3 39.6 40.7

150.6 152.6 155.6 159.0

75.4 76.3 77.9 79.6

63.2 64.0 64.8 65.6

12.0 12.3 12.8 13.8

13.7 13.8 13.6 13.2

3.8 3.9 3.9 4.0

18.2 19.5 20.8 22.0

16.2 17.5 18.8 20.0

1.9 1.9 1.9 1.9

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

328.0 329.5 341.5 353.7

224.5 224.1 231.5 240.0

46.6 48.0 49.4 51.6

40.4 41.7 43.0 45.2

161.9 163.3 168.2 173.3

81.2 80.8 83.5 86.0

66.5 67.8 69.5 71.5

14.2 14.7 15.2 15.8

16.1 12.8 14.0 15.1

3.6 2.9 3.8 4.0

24.3 25.6 26.9 28.3

21.1 22.4 23.7 25.1

3.1 3.1 3.1 3.1

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

363.5 368.1 374.0 375.3

249.5 252.5 259.5 261.6

52.5 53.7 55.5 56.8

46.0 47.0 48.8 49.9

180.2 183.7 188.3 190.7

89.6 89.6 91.8 92.1

73.9 76.2 78.0 80.2

16.7 17.9 18.5 18.4

16.8 15.2 15.7 14.1

3.7 3.8 3.9 4.0

29.9 31.4 32.7 33.9

26.5 27.9 29.2 30.4

3.3 3.3 3.3 3.3

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

380.8 389.1 395.0 400.8

265.4 270.6 276.5 280.1

57.3 58.1 60.4 60.8

50.2 50.9 53.1 53.4

193.9 198.3 201.7 206.0

92.9 95.5 97.0 99.3

82.4 84.5 86.3 87.9

18.5 18.3 18.4 18.7

14.1 14.3 14.4 13.3

4.0 4.0 4.1 4.1

35.2 36.3 37.3 38.1

31.6 32.6 33.6 34.5

3.5 3.5 3.5 3.5

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

407.6 423.6 436.4 446.9

283.7 295.9 307.5 316.4

61.3 64.3 68.1 70.7

53.7 56.5 60.2 62.7

209.6 216.0 222.0 228.0

101.5 106.2 109.9 113.1

89.3 90.9 92.7 94.6

18.8 18.9 19.5 20.3

12.8 15.7 17.4 17.7

4.0 4.1 4.1 4.3

39.5 40.7 42.0 43.5

35.4 36.4 37.5 38.8

4.0 4.2 4.4 4.6

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

465.3 478.1 481.6 495.6

328.0 336.0 339.0 346.1

73.3 75.8 76.8 78.2

65.0 67.4 68.1 69.3

234.7 240.3 244.7 250.2

116.8 119.9 122.0 125.3

96.8 98.8 100.7 102.5

21.1 21.6 22.0 22.3

20.1 19.9 17.5 17.7

4.5 4.7 4.8 4.8

44.9 46.7 48.6 50.5

40.0 41.7 43.4 45.3

4.7 4.9 5.0 5.1

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

506.6 516.4 526.1 535.2

353.9 360.6 367.5 372.7

79.3 80.9 81.5 83.7

70.2 71.8 72.2 74.3

254.7 260.0 265.1 268.5

127.3 130.6 132.8 133.8

104.5 106.5 108.5 110.6

22.9 23.0 23.8 24.1

20.0 19.6 20.9 20.5

4.7 4.8 4.9 5.2

52.9 54.5 55.4 56.7

47.6 49.1 49.8 50.9

5.1 5.2 5.4 5.7

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

552.7 554.8 567.1 572.0

378.9 383.6 392.2 403.5

84.5 85.0 87.5 91.8

75.0 75.4 77.7 81.8

273.0 276.6 282.3 286.8

136.1 137.8 142.0 143.5

112.6 114.9 117.3 119.8

24.3 23.8 23.0 23.5

21.4 22.0 22.4 24.8

5.5 5.8 6.1 6.4

57.7 58.3 58.7 58.9

51.3 51.9 52.3 52.6

6.2 6.3 6.3 6.2

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

570.8 593.2 594.1 604.1

405.0 423.7 425.5 434.2

92.4 101.5 94.1 98.4

82.1 90.9 83.4 87.5

291.9 298.5 306.0 310.0

145.1 148.6 152.9 154.7

122.5 125.1 127.7 130.3

24.2 24.8 25.4 25.1

20.7 23.7 25.5 25.7

6.7 7.0 7.3 7.7

58.5 58.0 58.0 58.1

52.4 52.2 52.7 53.3

6.0 5.6 5.2 4.6

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

616.4 626.2 643.4 656.2

438.9 446.3 458.1 467.7

99.4 97.2 104.1 107.6

88.3 85.8 92.5 95.8

315.5 323.3 327.4 332.4

157.8 162.3 163.7 165.8

132.4 134.9 137.7 141.0

25.3 26.1 25.9 25.6

24.0 25.8 26.6 27.8

8.0 8.3 8.5 8.7

59.0 59.9 61.0 62.2

54.2 55.2 56.5 57.8

4.7 4.5 4.3 4.2

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

673.4 687.0 694.5 694.3

480.2 491.0 491.0 489.8

113.4 118.2 114.5 112.4

101.3 105.8 102.1 99.8

340.3 348.1 353.8 354.3

168.7 172.9 174.6 173.2

145.0 148.4 151.5 154.5

26.6 26.9 27.7 26.6

26.6 24.6 22.7 23.1

8.8 8.9 9.0 9.3

64.1 65.2 66.3 67.2

59.7 60.9 62.0 63.0

4.2 4.1 4.1 4.0

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

721.5 730.6 744.3 754.7

509.9 514.0 523.0 529.6

119.3 122.6 123.7 124.6

106.6 109.5 110.8 111.5

369.1 368.7 375.7 382.7

183.7 181.2 185.3 186.9

156.6 159.7 163.1 166.7

28.7 27.9 27.3 29.1

21.5 22.7 23.6 22.2

9.5 9.9 10.2 10.5

67.5 68.4 69.6 68.3

63.5 64.4 64.3 64.0

3.8 3.8 5.0 4.0

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

427

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts—Continued

Current expenditures

Current transfer receipts Year and quarter Total

Federal grants-inaid

From business (net)

From persons

Current surplus of government enterprises

Total 1

Net state and local government saving, NIPA (surplus + / deficit -)

GovernConsumption expen- ment social Interest benefits to payments ditures persons

Subsidies

Total

Social insurance funds

Other

1977 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

57.2 60.3 64.1 64.2

52.5 55.5 59.1 59.2

1.6 1.6 1.6 1.6

3.2 3.3 3.3 3.4

0.3 0.3 0.3 0.4

238.3 244.5 249.5 254.9

189.2 193.3 198.2 202.8

35.7 37.5 37.3 37.7

13.3 13.5 13.8 14.1

0.2 0.2 0.2 0.2

9.6 11.8 15.7 15.5

0.8 0.9 1.1 1.2

8.8 10.9 14.7 14.3

1978 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

68.8 71.6 71.1 72.8

63.5 66.1 65.5 67.1

1.9 1.9 1.9 1.9

3.5 3.6 3.7 3.8

0.4 0.3 0.2 0.1

260.9 266.5 271.4 276.8

207.2 210.7 215.2 219.6

39.2 41.0 41.3 41.7

14.3 14.6 15.1 15.6

0.2 0.2 0.2 0.3

16.9 23.0 16.1 18.7

1.3 1.4 1.5 1.7

15.5 21.6 14.5 17.1

1979 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

70.5 71.2 74.0 74.9

64.4 65.0 67.6 68.4

2.2 2.2 2.2 2.2

4.0 4.1 4.2 4.3

0.0 -0.2 -0.4 -0.6

284.3 290.9 298.9 307.4

225.5 229.2 236.3 242.4

42.4 43.5 44.5 46.9

16.4 17.0 17.6 18.0

0.3 0.3 0.3 0.3

14.5 11.9 13.9 11.6

1.7 1.8 1.8 1.8

12.9 10.1 12.1 9.8

1980 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

76.2 77.9 80.7 83.3

69.3 70.8 73.4 75.8

2.5 2.5 2.5 2.5

4.4 4.6 4.8 5.0

-0.7 -0.9 -1.4 -1.9

317.3 324.0 334.0 342.2

249.3 255.8 261.6 267.0

49.1 49.0 52.4 54.3

18.4 19.0 19.6 20.4

0.3 0.3 0.4 0.4

10.6 5.5 7.5 11.5

1.4 0.7 1.5 1.6

9.2 4.8 6.0 9.9

1981 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

82.6 83.0 80.5 78.1

74.4 74.5 71.9 69.2

2.9 2.9 2.9 2.9

5.4 5.6 5.8 6.0

-2.3 -2.6 -2.5 -2.2

351.8 360.0 366.4 372.5

274.4 279.9 284.9 290.1

55.6 57.4 57.7 57.7

21.4 22.3 23.3 24.3

0.4 0.4 0.4 0.4

11.7 8.0 7.7 2.8

1.3 1.3 1.3 1.3

10.4 6.7 6.4 1.5

1982 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

78.2 79.9 78.7 79.7

68.8 70.4 69.0 69.8

3.2 3.2 3.3 3.3

6.1 6.3 6.4 6.6

-2.0 -1.7 -1.5 -1.2

381.5 390.6 397.7 404.8

296.6 302.6 307.4 312.8

59.0 61.0 62.1 62.6

25.4 26.5 27.7 29.0

0.4 0.5 0.5 0.5

-0.7 -1.4 -2.6 -4.0

1.3 1.2 1.2 1.2

-2.0 -2.7 -3.9 -5.2

1983 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

81.1 83.3 82.7 82.4

70.6 72.7 71.8 71.2

3.6 3.6 3.6 3.7

6.8 7.0 7.3 7.5

-0.8 -0.4 0.0 0.2

415.0 420.6 426.6 432.7

318.4 322.1 326.0 329.8

65.8 66.3 67.2 68.3

30.4 31.7 33.0 34.1

0.5 0.4 0.4 0.4

-7.4 3.0 9.8 14.2

1.2 1.2 1.2 1.3

-8.6 1.8 8.5 12.9

1984 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

87.1 89.6 87.7 91.6

75.4 77.4 75.1 78.8

4.0 4.2 4.3 4.3

7.8 8.0 8.3 8.5

0.7 1.1 1.6 2.5

442.8 451.4 460.5 470.2

337.2 343.9 351.3 358.2

69.9 70.6 71.3 72.8

35.2 36.4 37.6 38.8

0.4 0.4 0.4 0.4

22.5 26.7 21.1 25.4

1.4 1.5 1.5 1.4

21.1 25.3 19.7 24.0

1985 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

92.2 93.4 95.0 97.4

79.1 80.0 81.2 83.1

4.3 4.4 4.4 4.5

8.7 9.1 9.4 9.7

2.9 3.2 3.4 3.3

481.9 492.4 504.5 516.2

367.3 376.0 386.9 397.0

74.9 76.3 78.1 79.8

39.4 39.8 39.2 39.2

0.3 0.3 0.3 0.3

24.7 24.0 21.7 19.0

1.3 1.2 1.3 1.5

23.4 22.8 20.4 17.6

1986 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

107.6 104.2 107.4 100.7

84.8 89.0 91.8 84.9

12.6 4.7 4.8 4.8

10.2 10.5 10.8 11.0

3.1 2.9 2.7 2.5

526.0 534.3 544.3 558.2

406.9 413.1 420.5 430.9

81.6 83.6 85.3 86.9

37.2 37.2 38.3 40.1

0.3 0.3 0.3 0.3

26.7 20.5 22.8 13.8

1.6 1.8 2.0 2.1

25.0 18.7 20.8 11.8

1987 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

97.9 101.7 100.1 100.2

82.1 85.8 83.9 83.8

4.8 4.8 4.9 5.0

11.0 11.1 11.2 11.4

2.6 2.8 3.1 3.9

564.8 573.8 581.9 592.0

433.7 438.7 442.5 448.9

88.3 89.9 91.6 93.1

42.6 44.9 47.6 49.7

0.3 0.3 0.3 0.3

6.0 19.4 12.2 12.1

2.1 2.1 2.2 2.3

3.9 17.3 9.9 9.8

1988 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

106.2 107.1 110.7 112.0

89.5 90.0 93.1 93.8

5.1 5.2 5.5 5.7

11.6 11.9 12.1 12.5

4.2 4.6 5.0 5.6

602.8 613.0 622.2 632.6

459.2 467.2 474.0 481.1

95.3 97.3 99.5 101.9

48.0 48.1 48.3 49.3

0.3 0.3 0.4 0.4

13.6 13.2 21.2 23.6

2.4 2.5 2.6 2.6

11.2 10.7 18.6 21.0

1989 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

114.0 115.2 121.5 121.9

94.9 95.6 101.4 101.4

6.1 6.3 6.5 6.7

13.0 13.3 13.5 13.9

6.3 6.6 6.8 6.2

646.8 659.8 671.7 687.6

489.8 498.1 504.8 515.9

104.2 107.3 111.0 114.8

52.3 54.0 55.6 56.5

0.4 0.4 0.4 0.4

26.6 27.2 22.8 6.7

2.5 2.4 2.3 2.1

24.1 24.8 20.6 4.5

1990 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

127.8 131.7 134.9 139.6

106.5 110.3 112.6 116.3

7.2 6.9 7.0 7.2

14.0 14.5 15.2 16.0

6.8 6.7 6.6 6.7

705.7 720.5 738.2 757.8

530.0 538.5 549.3 560.8

118.8 124.2 130.3 137.4

56.5 57.5 58.3 59.2

0.4 0.4 0.4 0.4

15.8 10.1 6.1 -3.1

2.0 2.0 2.0 2.0

13.8 8.2 4.1 -5.0

1Includes

components not shown separately.

428

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts Current tax receipts Year and quarter

Personal current taxes

Total Total

Total 1

Income taxes

Taxes on production and imports Total

Sales taxes

Property taxes

Other

Taxes on corporate income

Contributions for government social insurance

Income receipts on assets

Total 1

Interest receipts

Rents and royalties

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

763.0 778.8 798.2 816.6

528.5 538.2 549.7 560.8

121.2 124.5 126.1 129.4

108.0 111.2 112.2 115.5

384.6 390.3 399.3 407.1

184.8 187.9 193.1 196.9

171.2 174.7 177.8 180.5

28.6 27.7 28.4 29.7

22.7 23.4 24.2 24.2

11.0 11.4 11.8 12.2

68.8 68.3 67.7 67.1

64.1 63.5 62.7 62.0

4.3 4.5 4.6 4.7

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

824.3 842.7 851.7 863.9

564.4 580.4 582.6 591.6

127.5 136.9 136.7 140.2

112.7 122.3 121.9 124.6

412.6 418.0 424.0 425.7

200.6 201.6 207.4 207.7

182.9 184.4 185.4 186.0

29.1 32.0 31.3 32.0

24.4 25.5 21.8 25.8

12.6 13.0 13.3 13.6

66.9 65.0 64.1 63.1

61.1 60.0 59.1 58.1

5.3 4.6 4.6 4.6

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

862.5 875.9 893.2 916.1

588.6 598.5 609.5 622.3

136.5 138.3 143.6 145.9

121.8 123.9 128.7 130.5

427.6 433.2 439.6 446.7

210.9 214.7 217.4 222.5

184.8 185.9 187.8 190.5

31.8 32.6 34.4 33.7

24.6 27.0 26.3 29.7

13.8 14.1 14.2 14.4

62.0 61.4 61.0 60.9

57.0 56.3 55.8 55.8

4.6 4.5 4.5 4.5

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

920.9 931.4 952.3 966.9

629.9 636.9 652.1 658.0

146.9 141.9 151.2 152.0

131.4 125.8 135.1 136.7

456.4 465.5 469.7 473.4

225.7 230.9 233.1 235.9

196.0 198.8 200.8 201.9

34.7 35.8 35.8 35.6

26.5 29.5 31.2 32.6

14.6 14.6 14.5 14.4

61.6 62.4 63.8 65.0

56.4 57.1 58.5 59.6

4.5 4.5 4.5 4.5

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

980.9 979.1 997.6 1 003.3

665.6 661.6 677.2 684.1

156.8 152.4 160.6 162.6

140.6 136.1 144.2 146.0

478.3 477.9 483.7 489.4

240.4 239.6 243.7 247.3

200.8 201.6 203.0 204.9

37.2 36.8 37.0 37.2

30.5 31.3 32.8 32.0

14.0 13.7 13.5 13.2

66.5 67.6 69.1 70.4

61.1 62.3 63.5 64.7

4.5 4.5 4.5 4.5

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 021.7 1 042.6 1 049.1 1 059.7

695.8 705.7 712.4 724.5

165.3 165.9 169.3 174.2

149.0 149.6 152.8 157.8

498.1 506.5 509.9 517.0

252.4 255.7 256.8 259.9

208.1 210.9 213.7 216.7

37.6 40.0 39.4 40.5

32.4 33.3 33.1 33.3

13.0 12.7 12.3 11.9

71.4 72.6 73.9 75.1

65.6 66.7 67.8 69.0

4.6 4.6 4.7 4.7

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 073.4 1 084.0 1 106.5 1 125.8

734.3 741.0 756.0 768.5

177.8 176.9 184.1 189.2

160.7 159.6 166.8 171.6

523.7 530.5 536.6 544.3

262.8 266.8 270.5 274.5

220.0 222.6 224.8 226.8

40.9 41.2 41.3 43.0

32.8 33.5 35.3 34.9

11.3 10.9 10.6 10.5

76.5 77.4 78.3 79.1

70.3 71.1 71.9 72.8

4.8 4.8 4.8 4.7

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 137.5 1 150.5 1 165.3 1 199.4

779.5 791.8 798.6 809.7

195.1 201.8 201.4 206.5

177.2 183.6 183.2 188.0

549.3 555.3 561.6 568.9

277.5 281.4 285.4 291.1

227.7 229.7 232.0 234.7

44.1 44.2 44.2 43.1

35.2 34.7 35.5 34.3

10.6 10.4 10.3 10.1

79.8 80.3 81.2 82.4

73.5 74.1 74.9 76.0

4.6 4.6 4.6 4.7

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 205.1 1 217.1 1 249.6 1 275.0

818.6 831.4 847.3 864.3

207.6 210.4 216.0 223.8

188.8 191.6 196.9 204.7

576.1 585.4 595.4 603.7

292.9 298.8 305.4 309.3

238.3 241.3 244.3 247.2

45.0 45.3 45.7 47.1

34.9 35.6 35.9 36.8

9.8 9.7 9.7 9.9

83.0 84.4 86.0 87.7

76.5 77.7 79.0 80.4

4.8 5.0 5.2 5.5

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 294.4 1 319.0 1 330.5 1 333.9

880.3 898.4 895.4 898.8

231.6 243.7 236.3 234.8

212.2 224.5 216.6 215.7

610.9 618.0 624.1 631.2

313.3 315.7 317.0 320.3

249.9 252.9 256.1 259.5

47.7 49.4 51.1 51.5

37.8 36.7 35.0 32.8

10.3 10.7 11.2 11.8

90.4 91.9 92.8 93.7

82.7 83.9 84.5 85.1

5.9 6.2 6.4 6.7

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 367.2 1 397.4 1 354.8 1 372.5

919.1 937.9 899.9 906.2

249.2 266.6 229.3 225.8

230.1 246.9 209.5 205.9

637.5 639.4 641.4 652.9

322.8 320.5 317.7 323.5

262.6 266.5 271.3 276.7

52.1 52.4 52.4 52.7

32.4 31.9 29.2 27.4

12.7 13.5 14.0 14.4

91.6 89.9 87.7 85.9

83.1 81.4 79.3 77.5

6.6 6.6 6.5 6.4

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 379.7 1 396.4 1 422.7 1 441.7

910.3 916.5 940.1 949.0

220.1 215.1 224.2 225.8

200.3 194.6 203.5 204.9

661.1 670.2 683.2 687.5

324.2 328.1 333.9 334.5

282.9 288.3 292.9 296.5

54.0 53.8 56.4 56.6

29.1 31.2 32.8 35.6

15.0 15.6 16.1 16.5

82.3 79.0 76.5 75.0

73.8 70.5 67.9 66.2

6.4 6.5 6.6 6.8

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 433.1 1 474.6 1 507.6 1 539.0

944.7 954.1 985.8 1 005.7

217.7 215.8 231.9 237.0

196.5 194.2 209.7 214.2

693.7 705.0 717.8 730.5

338.0 344.2 351.2 358.2

297.8 301.2 305.1 309.6

57.9 59.6 61.6 62.6

33.4 33.4 36.0 38.2

16.7 17.2 17.7 18.3

75.1 74.6 74.7 75.0

65.8 65.3 65.2 65.4

7.1 7.2 7.4 7.5

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

1 546.8 1 579.7 1 574.5 1 625.7

1 021.5 1 044.2 1 049.3 1 075.2

238.3 247.7 248.4 254.6

215.4 224.9 224.9 230.9

743.7 754.3 761.5 775.8

364.5 368.6 370.1 378.6

315.7 320.6 325.3 329.7

63.5 65.1 66.1 67.5

39.5 42.2 39.4 44.8

19.1 19.6 19.9 20.1

75.6 76.7 77.4 78.8

66.0 66.8 67.3 67.8

7.6 7.7 7.8 7.9

1Includes

components not shown separately.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

429

Table 19-9. State and Local Government Current Receipts and Expenditures—Continued (National income and product accounts, calendar years, billions of dollars, quarterly data are at seasonally adjusted annual rates.) NIPA Table 3.3 Current receipts—Continued Current transfer receipts Year and quarter Total

Federal grants-inaid

From business (net)

From persons

Current expenditures Current surplus of government enterprises

Total 1

Net state and local government saving, NIPA (surplus + / deficit -)

GovernConsumption expen- ment social Interest benefits to payments ditures persons

Subsidies

Total

Social insurance funds

Other

1991 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

147.8 153.9 162.0 169.2

122.8 128.1 134.9 140.6

7.8 7.6 7.9 8.5

17.2 18.2 19.2 20.1

6.9 7.0 7.1 7.3

769.9 785.0 798.4 819.9

567.1 570.8 577.4 583.2

141.5 152.2 158.6 173.8

60.9 61.6 62.0 62.5

0.4 0.4 0.4 0.4

-7.0 -6.2 -0.2 -3.3

2.1 2.3 2.4 2.6

-9.1 -8.5 -2.6 -5.9

1992 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

173.1 176.8 183.8 187.3

143.2 146.2 152.4 154.6

8.9 8.9 9.2 10.0

21.0 21.7 22.2 22.7

7.3 7.5 7.9 8.2

824.6 840.6 855.5 859.1

591.3 599.5 607.5 612.4

170.5 178.6 185.8 185.0

62.4 62.0 61.9 61.3

0.4 0.4 0.4 0.4

-0.3 2.1 -3.8 4.8

2.8 3.0 3.3 3.5

-3.0 -0.9 -7.1 1.3

1993 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

189.4 193.0 199.3 209.2

156.3 159.3 165.0 174.1

10.1 10.4 10.6 11.0

23.0 23.3 23.7 24.1

8.7 8.9 9.2 9.2

872.5 877.6 893.6 900.5

622.6 627.3 632.8 638.5

188.9 189.7 200.6 201.7

60.6 60.3 59.9 59.9

0.4 0.4 0.4 0.4

-9.9 -1.7 -0.3 15.7

3.8 4.1 4.3 4.5

-13.7 -5.8 -4.7 11.1

1994 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

207.3 208.5 212.5 219.5

171.2 171.6 174.9 181.2

11.4 11.8 12.1 12.5

24.7 25.1 25.4 25.8

7.5 9.0 9.4 10.0

916.7 925.0 934.5 953.4

651.8 659.1 668.0 674.3

203.6 203.9 203.7 215.7

60.9 61.6 62.5 63.1

0.4 0.3 0.3 0.3

4.2 6.4 17.8 13.5

4.6 4.7 4.7 4.6

-0.4 1.7 13.1 8.9

1995 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

223.9 224.5 225.5 222.7

185.0 184.9 185.1 181.6

12.9 13.3 13.7 14.1

26.0 26.3 26.6 27.0

11.0 11.7 12.4 13.0

970.8 978.7 984.3 979.0

687.0 694.0 698.7 704.5

220.4 220.7 220.7 208.8

63.1 63.7 64.5 65.4

0.3 0.3 0.3 0.3

10.2 0.4 13.4 24.3

4.4 4.2 3.9 3.7

5.8 -3.8 9.4 20.6

1996 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

227.8 237.6 236.5 234.4

186.1 195.0 193.2 190.3

14.5 15.0 15.4 15.8

27.2 27.6 27.9 28.3

13.7 14.0 14.0 13.8

998.1 1 020.7 1 021.9 1 029.3

712.9 720.5 728.2 737.7

218.2 232.2 224.8 221.7

66.6 67.7 68.5 69.5

0.3 0.3 0.3 0.4

23.7 21.9 27.2 30.4

3.4 3.0 2.6 2.2

20.2 18.8 24.6 28.3

1997 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

238.1 242.2 249.6 256.5

192.4 195.5 198.4 208.2

16.3 16.6 20.6 17.2

29.5 30.1 30.6 31.0

13.2 12.6 12.0 11.3

1 043.8 1 047.7 1 062.0 1 079.7

747.0 752.5 761.7 774.4

226.0 223.7 228.0 232.4

70.4 71.1 71.8 72.4

0.4 0.4 0.4 0.5

29.6 36.4 44.4 46.1

1.5 1.2 1.0 1.0

28.1 35.2 43.4 45.1

1998 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

257.9 257.7 264.8 286.6

207.9 208.1 213.0 222.0

18.8 18.0 19.6 31.8

31.2 31.6 32.1 32.8

9.7 10.2 10.5 10.6

1 088.9 1 103.7 1 115.6 1 136.4

783.1 794.7 807.6 820.0

232.2 235.2 233.9 241.7

73.1 73.4 73.7 74.2

0.5 0.5 0.4 0.4

48.6 46.7 49.7 63.0

1.5 1.7 1.8 1.8

47.1 45.1 47.9 61.2

1999 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

282.8 280.9 296.1 303.3

227.0 223.7 237.6 243.2

22.4 22.8 23.2 23.7

33.5 34.3 35.3 36.4

10.8 10.7 10.4 9.8

1 156.1 1 171.8 1 197.6 1 219.7

834.3 850.8 867.3 883.3

247.7 246.3 255.1 260.3

73.8 74.2 74.8 75.6

0.4 0.4 0.4 0.4

49.0 45.3 52.0 55.3

1.7 1.7 1.7 1.7

47.3 43.6 50.3 53.5

2000 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

304.7 310.0 323.8 323.0

239.0 242.8 255.0 252.6

28.0 28.6 29.1 29.6

37.6 38.7 39.8 40.8

8.8 8.0 7.3 6.6

1 238.5 1 259.5 1 281.6 1 298.5

900.6 910.8 923.4 936.3

260.4 269.6 277.4 279.2

77.0 78.5 80.3 82.4

0.5 0.5 0.6 0.6

55.9 59.5 49.0 35.4

1.7 1.9 2.1 2.4

54.2 57.7 46.8 33.0

2001 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

338.2 351.5 350.0 363.3

266.5 278.3 272.8 286.6

30.1 30.5 33.3 31.5

41.6 42.7 43.9 45.2

5.5 4.6 3.2 2.8

1 334.7 1 371.6 1 363.4 1 403.1

951.7 963.6 976.6 987.1

290.7 308.3 295.9 326.0

84.2 85.3 86.0 86.6

8.0 14.4 4.8 3.4

32.5 25.8 -8.6 -30.6

2.6 2.7 2.6 2.4

29.9 23.1 -11.2 -33.0

2002 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

369.5 382.5 387.4 399.3

291.4 303.1 306.6 317.2

32.0 32.4 32.9 33.3

46.1 47.0 47.9 48.8

2.7 2.7 2.6 2.0

1 415.0 1 431.5 1 454.2 1 476.6

1 001.8 1 019.4 1 033.6 1 046.7

324.9 325.4 333.0 344.7

86.5 86.2 85.9 85.7

1.8 0.6 1.7 -0.4

-35.3 -35.1 -31.4 -34.9

2.1 1.8 1.6 1.4

-37.4 -36.9 -33.0 -36.2

2003 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

396.1 428.9 430.4 441.7

313.2 344.6 344.4 354.0

33.3 33.8 34.4 35.0

49.5 50.5 51.6 52.7

0.4 -0.3 -1.0 -1.7

1 500.9 1 500.7 1 521.4 1 526.5

1 070.8 1 067.8 1 077.7 1 082.9

344.3 346.7 358.5 355.8

85.8 85.8 86.2 86.9

0.1 0.4 -0.9 1.0

-67.8 -26.1 -13.8 12.5

1.2 1.2 1.3 1.4

-69.0 -27.3 -15.0 11.0

2004 1st quarter .................... 2nd quarter .................. 3rd quarter ................... 4th quarter ...................

432.5 441.8 430.5 454.5

342.6 349.9 341.9 358.7

35.8 36.5 31.9 37.7

54.1 55.4 56.7 58.0

-1.9 -2.5 -2.6 -2.9

1 553.2 1 581.3 1 593.8 1 621.7

1 095.1 1 108.9 1 123.9 1 143.1

370.4 383.5 380.2 387.7

87.3 88.4 89.3 90.4

0.5 0.5 0.5 0.5

-6.5 -1.6 -19.3 4.0

1.9 2.0 1.9 1.6

-8.3 -3.6 -21.2 2.3

1Includes

components not shown separately.

430

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-10. U.S. International Transactions (Millions of dollars, seasonally adjusted.) Exports of goods, services, and income

Year and quarter Total

Goods

Services

Income receipts

Imports of goods, services, and income 1

Total

Goods

U.S.-owned assets abroad, net 3

Unilateral current Income transfers, Services payments net 2

Total

U.S. official reserve assets, net

U.S. government assets other than official reserve assets, net

U.S. private assets, net

Total

Direct investment

Foreign securities

1960 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

7 355 7 762 7 650 7 791

4 685 4 916 5 031 5 018

1 543 1 715 1 453 1 580

1 127 1 131 1 166 1 193

-6 050 -6 078 -5 925 -5 619

-3 812 -3 858 -3 648 -3 440

-1 907 -1 906 -1 970 -1 892

-331 -314 -307 -287

-955 -1 154 -889 -1 064

-1 066 -1 156 -956 -923

159 175 740 1 071

-237 -339 -160 -365

-988 -992 -1 536 -1 629

-664 -586 -754 -936

-266 -166 -111 -120

1961 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

7 827 7 773 7 757 8 047

5 095 4 806 5 038 5 169

1 481 1 758 1 468 1 590

1 251 1 209 1 251 1 288

-5 599 -5 659 -6 026 -6 171

-3 394 -3 438 -3 809 -3 896

-1 912 -1 922 -1 900 -1 939

-293 -299 -317 -336

-989 -1 208 -887 -1 043

-1 320 -1 029 -1 928 -1 260

371 -320 -212 768

-381 471 -486 -513

-1 310 -1 180 -1 230 -1 515

-774 -551 -737 -592

-135 -246 -124 -257

1962 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

8 015 8 719 8 295 8 315

5 077 5 336 5 331 5 037

1 666 2 004 1 567 1 709

1 272 1 379 1 397 1 569

-6 256 -6 402 -6 455 -6 567

-3 966 -4 080 -4 116 -4 098

-1 971 -1 992 -2 005 -2 126

-319 -330 -334 -343

-1 113 -1 272 -879 -1 016

-1 301 -1 461 -279 -1 134

427 -163 881 390

-406 -381 8 -306

-1 322 -917 -1 168 -1 218

-545 -716 -811 -779

-196 -308 -87 -378

1963 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

8 428 9 244 8 832 9 275

5 063 5 599 5 671 5 939

1 849 2 150 1 620 1 731

1 516 1 495 1 541 1 605

-6 478 -6 674 -6 893 -6 926

-4 064 -4 226 -4 372 -4 386

-2 057 -2 066 -2 122 -2 118

-357 -382 -399 -422

-1 107 -1 371 -918 -999

-1 922 -2 631 -887 -1 831

32 124 227 -5

-482 -654 -86 -440

-1 472 -2 101 -1 028 -1 386

-980 -874 -721 -908

-522 -536 -100 53

1964 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

9 885 9 975 10 009 10 299

6 242 6 199 6 423 6 637

1 922 2 088 1 851 1 982

1 721 1 688 1 735 1 680

-6 982 -7 179 -7 349 -7 594

-4 416 -4 598 -4 756 -4 930

-2 140 -2 142 -2 153 -2 186

-426 -439 -440 -478

-993 -1 269 -935 -1 043

-2 086 -2 018 -2 255 -3 200

-51 303 70 -151

-288 -386 -414 -592

-1 747 -1 935 -1 911 -2 457

-822 -970 -1 018 -949

20 -206 2 -494

1965 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

9 689 11 263 10 625 11 149

5 768 6 876 6 643 7 174

2 047 2 448 2 120 2 212

1 874 1 939 1 862 1 763

-7 395 -8 208 -8 307 -8 802

-4 711 -5 428 -5 516 -5 855

-2 187 -2 269 -2 263 -2 393

-497 -511 -528 -554

-1 037 -1 478 -1 013 -1 058

-1 576 -1 270 -1 454 -1 416

843 69 42 271

-374 -536 -254 -441

-2 045 -803 -1 242 -1 246

-1 606 -1 250 -1 030 -1 125

-198 -147 -209 -205

1966 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

11 190 11 726 11 470 12 068

7 242 7 169 7 290 7 609

2 124 2 705 2 301 2 487

1 824 1 852 1 879 1 972

-9 068 -9 390 -9 912 -10 098

-6 012 -6 195 -6 576 -6 710

-2 483 -2 601 -2 693 -2 717

-573 -594 -643 -671

-1 140 -1 547 -1 073 -1 194

-1 465 -1 967 -1 681 -2 208

424 68 83 -5

-321 -504 -339 -380

-1 568 -1 531 -1 425 -1 823

-1 115 -1 373 -1 314 -1 616

-437 -115 -115 -53

1967 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

12 439 12 275 12 134 12 506

7 751 7 693 7 530 7 692

2 731 2 666 2 540 2 731

1 957 1 916 2 064 2 083

-10 248 -10 136 -10 262 -10 833

-6 708 -6 475 -6 526 -7 157

-2 866 -2 986 -3 059 -2 955

-674 -675 -677 -721

-1 315 -1 472 -1 309 -1 199

-1 203 -2 339 -3 155 -3 060

1 027 -419 -375 -180

-643 -543 -551 -685

-1 587 -1 377 -2 229 -2 195

-1 186 -964 -1 359 -1 297

-265 -261 -419 -363

1968 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

13 016 13 577 14 195 14 126

7 998 8 324 8 745 8 559

2 816 2 936 3 039 3 129

2 202 2 317 2 411 2 438

-11 571 -11 885 -12 611 -12 604

-7 796 -8 051 -8 612 -8 532

-2 997 -2 990 -3 129 -3 185

-778 -844 -870 -887

-1 249 -1 363 -1 445 -1 573

-1 299 -2 427 -3 447 -3 803

912 -135 -572 -1 075

-706 -632 -568 -368

-1 505 -1 660 -2 307 -2 360

-981 -1 172 -1 573 -1 568

-449 -283 -318 -519

1969 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

12 921 15 492 15 439 16 279

7 468 9 536 9 400 10 010

2 884 3 283 3 245 3 394

2 569 2 673 2 794 2 875

-11 622 -13 978 -14 072 -14 329

-7 444 -9 527 -9 380 -9 456

-3 174 -3 303 -3 368 -3 481

-1 004 -1 148 -1 324 -1 392

-1 177 -1 645 -1 319 -1 593

-2 595 -3 428 -3 361 -2 199

-45 -298 -685 -151

-406 -632 -703 -459

-2 144 -2 498 -1 973 -1 589

-1 556 -1 663 -1 548 -1 192

-366 -498 -546 -139

1970 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

16 461 17 419 17 267 17 241

10 258 10 744 10 665 10 802

3 235 3 645 3 625 3 666

2 968 3 030 2 977 2 773

-14 458 -14 861 -15 141 -15 443

-9 587 -9 766 -10 049 -10 464

-3 449 -3 690 -3 715 -3 668

-1 422 -1 405 -1 377 -1 311

-1 383 -1 586 -1 611 -1 576

-2 611 -1 725 -2 146 -1 989

481 1 025 802 1 040

-399 -348 -423 -419

-2 693 -2 402 -2 525 -2 610

-1 958 -2 144 -1 718 -1 771

-306 80 -517 -333

1971 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

17 980 18 163 18 676 17 564

10 920 10 878 11 548 9 973

4 048 4 087 3 972 4 251

3 012 3 198 3 156 3 340

-15 551 -16 764 -17 460 -16 639

-10 600 -11 614 -12 171 -11 194

-3 724 -3 867 -3 861 -3 948

-1 227 -1 283 -1 428 -1 497

-1 746 -1 808 -1 752 -2 098

-2 747 -2 534 -3 390 -3 084

868 839 1 377 -18

-573 -567 -387 -355

-3 042 -2 806 -4 380 -2 711

-2 033 -1 949 -2 308 -1 327

-408 -368 -346 9

1972 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

19 757 19 427 20 788 22 015

11 833 11 618 12 351 13 579

4 473 4 233 4 634 4 503

3 451 3 576 3 803 3 933

-19 153 -19 105 -19 767 -21 212

-13 501 -13 254 -14 022 -15 020

-4 173 -4 228 -4 095 -4 371

-1 479 -1 623 -1 650 -1 821

-2 297 -2 011 -2 306 -1 933

-3 585 -2 125 -3 952 -4 125

620 -60 96 50

-212 -271 -518 -566

-3 993 -1 794 -3 530 -3 609

-2 187 -1 481 -2 435 -1 644

-476 -318 203 -28

1973 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

24 681 27 127 29 329 31 912

15 474 17 112 18 271 20 553

4 579 4 828 5 145 5 279

4 628 5 187 5 913 6 080

-23 000 -24 301 -24 841 -26 855

-16 285 -17 168 -17 683 -19 363

-4 613 -4 741 -4 640 -4 849

-2 102 -2 392 -2 518 -2 643

-1 536 -1 953 -1 751 -1 674

-7 886 -4 154 -3 189 -7 646

213 11 -23 -43

-572 -423 -608 -1 042

-7 527 -3 742 -2 558 -6 561

-3 785 -2 691 -2 159 -2 718

55 -86 -196 -445

1974 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

34 698 37 295 37 385 39 105

22 614 24 500 24 629 26 563

5 189 5 691 5 633 6 078

6 895 7 104 7 123 6 464

-29 643 -34 710 -36 004 -36 918

-21 952 -26 346 -27 368 -28 145

-4 985 -5 359 -5 360 -5 675

-2 706 -3 005 -3 276 -3 098

-3 443 -2 475 -1 676 -1 656

-5 914 -10 318 -7 694 -10 818

-246 -358 -1 002 139

1 389 267 -354 -938

-7 057 -10 227 -6 338 -10 019

900 -1 790 -4 385 -3 776

-600 -272 -282 -699

1A 2A 3A

minus sign indicates imports of goods or services or income payments. minus sign indicates net unilateral transfers to foreigners. minus sign indicates financial outflows or increases in U.S. official assets.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

431

Table 19-10. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) U.S.-owned assets abroad, net 4 —Continued

Foreign-owned assets in the United States, net 4

Balance on:

Other foreign assets in the United States, net U.S. private assets, net—Continued Year and quarter

U.S. claims

Total

On unaffiliated Reported by foreigners reported U.S. banks, by U.S. nonbanking not included concerns elsewhere

Foreign official assets in the United States, net

Total

Direct investment

U.S. liabilities Statistical U.S. U.S. discrepTreasury securities To unaffiliated Reported ancy 5 foreigners securities other than by U.S. reported by and U.S. U.S. banks, not U.S. currency Treasury included nonbanking flows securities elsewhere concerns

Goods and services

Current account

1960 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

38 -100 -51 -281

-96 -140 -620 -292

926 912 381 77

380 435 283 377

546 477 98 -300

89 102 93 31

-100 -143 -99 -22

170 118 5 -11

-1 -50 -11 -28

388 450 110 -270

-210 -286 -261 -262

509 867 866 1 266

350 530 836 1 108

1961 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-117 -164 -149 -128

-284 -219 -220 -538

435 620 934 715

438 -307 673 -41

-3 927 261 756

68 86 58 99

-82 -38 83 188

104 152 3 66

73 72 14 67

-166 655 103 336

-354 -497 150 -288

1 270 1 204 797 924

1 239 906 844 833

1962 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-186 -5 -181 17

-395 112 -89 -78

737 675 -277 779

* 503 178 591

737 172 -455 188

89 130 59 68

193 -51 -109 -99

145 7 -23 6

-14 -64 16 -47

324 150 -398 260

-82 -259 -405 -377

806 1 268 777 522

646 1 045 961 732

1963 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-27 -108 47 245

57 -583 -254 -776

1 191 1 527 205 295

946 910 56 75

245 617 149 220

40 108 105 -22

25 -109 1 -66

14 119 52 102

-36 69 11 -80

202 430 -20 286

-112 -95 -339 186

791 1 457 797 1 166

843 1 199 1 021 1 350

1964 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-206 -166 -532 -204

-739 -593 -363 -810

462 630 769 1 781

393 227 275 763

69 403 494 1 018

87 109 56 70

32 -108 -65 -5

-42 14 -30 -27

0 19 37 19

-8 369 496 961

-286 -139 -239 -243

1 608 1 547 1 365 1 503

1 910 1 527 1 725 1 662

1965 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

286 165 -19 -91

-527 429 16 175

208 -330 587 280

-202 -194 115 421

410 -136 472 -141

184 -21 147 104

60 64 -149 -106

57 -243 -227 54

3 63 49 63

106 1 652 -256

111 23 -438 -153

917 1 627 984 1 138

1 257 1 577 1 305 1 289

1966 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-159 -68 -105 -110

143 25 109 -44

458 961 909 1 332

-164 -57 -342 -111

622 1 018 1 251 1 443

143 133 -37 187

-102 -316 66 -4

173 518 107 108

68 78 195 135

340 605 920 1 017

25 217 287 100

871 1 078 322 669

982 789 485 776

1967 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-107 -69 -40 -563

-29 -83 -411 28

401 1 884 2 513 2 584

708 1 100 548 1 098

-307 784 1 965 1 486

169 174 127 228

-6 -61 -36 -32

133 329 520 34

219 66 164 135

-822 276 1 190 1 121

-74 -212 79 2

908 898 485 311

876 667 563 474

1968 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-231 -567 -213 -191

156 362 -203 -82

1 374 2 192 2 809 3 550

-533 -2 007 442 1 321

1 907 4 199 2 367 2 229

367 133 148 160

22 86 -8 36

855 1 122 1 124 1 312

207 478 315 474

456 2 380 788 247

-271 -94 499 304

21 219 43 -29

196 329 139 -51

1969 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-132 -21 141 -114

-90 -316 -20 -144

3 664 3 896 3 833 1 311

-1 117 -766 1 256 -672

4 781 4 662 2 577 1 983

359 267 261 376

-125 -35 79 13

1 388 365 396 981

90 181 345 176

3 069 3 884 1 496 437

-1 191 -337 -520 531

-266 -11 -103 467

122 -131 48 357

1970 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-366 -73 -157 0

-63 -265 -133 -506

2 160 848 1 940 1 413

2 830 694 1 411 1 975

-670 154 529 -562

592 212 357 303

16 -35 1 99

304 374 720 792

222 534 510 748

-1 804 -931 -1 059 -2 504

-169 -95 -309 354

457 933 526 336

620 972 515 222

1971 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-355 -131 -337 -406

-246 -358 -1 389 -987

3 092 5 154 8 726 5 997

5 178 5 630 10 367 5 704

-2 086 -476 -1 641 293

196 140 -293 324

179 1 862 -795 -1 270

559 196 626 908

-62 -34 79 386

-2 958 -2 640 -1 258 -55

-1 028 -2 211 -4 800 -1 740

644 -516 -512 -918

683 -409 -536 -1 173

1972 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-248 -185 -241 -380

-1 082 190 -1 057 -1 557

4 367 4 277 6 382 6 437

2 762 1 103 4 740 1 871

1 605 3 174 1 642 4 566

-136 373 310 403

-3 -83 -12 59

1 059 961 718 1 769

-14 250 216 363

699 1 673 410 1 972

911 -463 -1 145 -1 182

-1 368 -1 631 -1 132 -1 309

-1 693 -1 689 -1 285 -1 130

1973 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-809 -202 -502 -870

-2 988 -763 299 -2 528

10 743 3 056 2 168 2 423

9 937 -403 -772 -2 736

806 3 458 2 940 5 159

631 835 539 795

-119 -185 -205 293

1 718 489 1 173 662

246 54 454 281

-1 670 2 265 979 3 128

-3 002 225 -1 716 1 840

-845 31 1 093 1 620

145 873 2 737 3 383

1974 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-2 113 -588 273 -793

-5 244 -7 577 -1 944 -4 751

6 514 9 962 9 303 9 563

-1 138 4 434 3 062 4 188

7 652 5 528 6 241 5 375

1 784 539 1 610 828

336 60 400 1 001

712 363 227 -925

354 390 239 861

4 466 4 176 3 765 3 610

-2 212 246 -1 314 724

866 -1 514 -2 466 -1 179

1 612 110 -295 531

4A minus sign indicates financial outflows or decreases 5Sum of credits and debits with the sign reversed.

* = Less than $500,000 (+/-).

in foreign official assets in the United States.

432

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-10. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Exports of goods, services, and income

Year and quarter Total

Goods

Services

Income receipts

Imports of goods, services, and income 1

Total

Goods

U.S.-owned assets abroad, net 3

Unilateral current Income transfers, Services payments net 2

Total

U.S. official reserve assets, net

U.S. government assets other than official reserve assets, net

U.S. private assets, net

Total

Direct investment

Foreign securities

1975 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

40 047 38 675 38 347 40 868

27 480 25 866 26 109 27 633

6 454 6 807 5 886 6 351

6 113 6 002 6 352 6 884

-33 797 -31 284 -33 078 -34 588

-24 980 -22 832 -24 487 -25 886

-5 580 -5 309 -5 379 -5 729

-3 237 -3 143 -3 212 -2 973

-2 043 -2 377 -1 189 -1 467

-10 576 -9 591 -5 099 -14 436

-327 -28 -333 -161

-877 -875 -745 -977

-9 372 -8 688 -4 021 -13 298

-4 022 -3 990 -1 495 -4 736

-1 931 -985 -938 -2 393

1976 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

41 183 42 309 43 818 44 780

27 575 28 256 29 056 29 858

6 556 6 660 7 311 7 444

7 052 7 393 7 451 7 478

-37 464 -39 494 -41 737 -43 416

-28 176 -30 182 -32 213 -33 657

-5 883 -5 980 -6 231 -6 478

-3 405 -3 332 -3 293 -3 281

-1 153 -1 167 -2 165 -1 201

-12 364 -11 701 -10 618 -16 588

-777 -1 580 -408 207

-749 -914 -1 428 -1 124

-10 838 -9 207 -8 782 -15 671

-3 923 -2 017 -3 327 -2 682

-2 467 -1 405 -2 751 -2 262

1977 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

44 916 46 796 47 125 45 818

29 668 30 852 30 752 29 544

7 494 7 901 7 991 8 098

7 754 8 043 8 382 8 176

-46 360 -48 401 -48 511 -50 495

-36 585 -38 063 -38 005 -39 254

-6 676 -6 940 -6 894 -7 133

-3 099 -3 398 -3 612 -4 108

-1 243 -1 426 -1 371 -1 185

-1 198 -12 182 -6 297 -15 109

-420 -24 112 -43

-1 062 -885 -1 001 -746

284 -11 273 -5 408 -14 320

-1 880 -3 783 -2 762 -3 466

-749 -1 784 -2 177 -749

1978 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

48 847 54 213 56 058 61 399

30 470 35 674 36 523 39 408

8 704 8 772 9 203 9 673

9 673 9 767 10 332 12 318

-54 471 -56 513 -58 300 -60 587

-42 487 -43 419 -44 422 -45 674

-7 612 -7 768 -8 248 -8 561

-4 372 -5 326 -5 630 -6 352

-1 396 -1 477 -1 425 -1 491

-15 219 -5 606 -9 703 -30 601

187 248 115 182

-1 009 -1 257 -1 394 -999

-14 397 -4 597 -8 424 -29 784

-4 771 -3 720 -2 753 -4 812

-1 115 -1 094 -510 -907

1979 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

64 530 68 445 74 411 80 577

41 475 43 885 47 104 51 975

9 664 9 713 9 936 10 378

13 391 14 847 17 371 18 224

-63 492 -67 584 -71 856 -78 726

-47 582 -50 778 -54 002 -59 645

-8 649 -8 960 -9 329 -9 751

-7 261 -7 846 -8 525 -9 330

-1 462 -1 552 -1 632 -1 949

-7 841 -15 565 -27 156 -14 353

-2 446 322 2 779 -649

-1 094 -970 -779 -904

-4 301 -14 917 -29 156 -12 800

-5 465 -7 220 -7 166 -5 370

-908 -492 -2 331 -995

1980 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

85 274 83 441 86 148 89 578

54 237 55 967 55 830 58 216

10 997 11 491 12 543 12 554

20 040 15 983 17 775 18 808

-86 559 -82 734 -79 906 -84 577

-65 815 -62 274 -59 010 -62 651

-10 335 -10 106 -10 292 -10 760

-10 409 -10 354 -10 604 -11 166

-2 174 -1 648 -1 909 -2 618

-12 662 -24 724 -19 666 -28 761

-2 116 502 -1 109 -4 279

-1 441 -1 159 -1 382 -1 178

-9 105 -24 067 -17 175 -23 304

-5 188 -2 659 -4 156 -7 219

-787 -1 387 -944 -450

1981 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

94 665 96 294 95 013 94 958

60 317 60 141 58 031 58 555

13 684 14 392 14 835 14 446

20 664 21 761 22 147 21 957

-91 024 -92 303 -89 787 -91 082

-67 004 -67 181 -64 407 -66 475

-11 360 -11 447 -11 236 -11 460

-12 660 -13 675 -14 144 -13 147

-2 678 -2 763 -3 145 -3 117

-21 922 -24 158 -17 945 -49 028

-3 436 -905 -4 262

-1 361 -1 491 -1 268 -976

-17 125 -21 762 -16 673 -48 314

-2 044 -5 709 -1 124 -745

-473 -1 564 -697 -2 966

1982 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

94 006 96 060 90 925 85 993

55 163 55 344 52 089 48 561

16 032 16 187 16 003 15 857

22 811 24 529 22 833 21 575

-90 336 -88 318 -90 938 -86 379

-63 502 -60 580 -63 696 -59 864

-12 749 -13 096 -12 794 -13 109

-14 085 -14 642 -14 448 -13 406

-3 955 -3 953 -4 027 -4 611

-36 335 -42 754 -23 547 -25 246

-1 089 -1 132 -794 -1 950

-800 -1 727 -2 524 -1 080

-34 446 -39 895 -20 229 -22 217

... 1 074 903 -3 838

-628 -471 -3 397 -3 488

1983 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

86 146 87 214 89 919 92 831

49 198 49 340 50 324 52 937

16 239 16 093 16 308 15 671

20 709 21 781 23 287 24 223

-85 097 -91 096 -98 481 -102 822

-59 757 -64 783 -70 370 -73 991

-12 951 -13 557 -14 133 -14 337

-12 389 -12 756 -13 978 -14 494

-3 566 -3 951 -4 339 -5 453

-28 890 -2 974 -12 191 -22 318

-787 16 529 -953

-1 136 -1 263 -1 171 -1 436

-26 967 -1 727 -11 549 -19 929

-862 -1 842 -4 861 -4 962

-1 549 -2 813 -1 308 -1 093

1984 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

96 000 100 257 102 296 101 361

52 991 54 626 55 893 56 416

17 353 18 045 17 936 17 834

25 656 27 586 28 467 27 111

-112 576 -119 220 -120 533 -121 591

-79 740 -83 798 -83 918 -84 962

-16 131 -16 885 -17 168 -17 564

-16 705 -18 537 -19 447 -19 065

-4 354 -4 476 -5 147 -6 359

-8 338 -25 718 15 298 -21 618

-657 -566 -799 -1 110

-2 033 -1 342 -1 392 -720

-5 648 -23 811 17 489 -19 789

-1 837 -1 967 -3 209 -9 396

758 -764 -1 106 -3 644

1985 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

97 794 97 437 94 771 97 612

54 866 54 154 52 836 54 059

18 227 18 214 17 961 18 756

24 701 25 069 23 974 24 797

-116 249 -120 891 -120 285 -126 349

-80 319 -84 565 -83 909 -89 295

-17 707 -18 276 -18 151 -18 732

-18 223 -18 050 -18 225 -18 322

-5 064 -5 235 -5 789 -5 911

-5 491 -2 340 -5 776 -31 146

-233 -356 -121 -3 148

-760 -1 053 -453 -555

-4 498 -931 -5 202 -27 444

-2 783 -4 374 -4 698 -7 073

-2 474 -2 219 -1 572 -1 217

1986 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

100 332 102 206 101 288 103 275

53 536 56 828 55 645 57 335

21 052 20 912 21 969 22 761

25 744 24 466 23 674 23 179

-129 342 -131 690 -132 879 -136 232

-89 220 -91 743 -92 801 -94 661

-19 855 -19 066 -20 448 -20 778

-20 267 -20 881 -19 630 -20 793

-5 199 -6 208 -6 458 -6 269

-17 406 -24 945 -32 615 -36 753

-115 16 280 132

-266 -230 -1 554 29

-17 025 -24 731 -31 341 -36 914

-9 781 -7 298 -4 975 -1 938

-5 930 -1 051 181 2 529

1987 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

104 750 111 642 116 688 123 968

56 696 60 202 64 217 69 093

23 602 24 740 24 986 25 329

24 452 26 700 27 485 29 546

-138 887 -146 125 -151 111 -158 324

-96 023 -100 648 -104 412 -108 682

-21 273 -22 537 -22 833 -24 146

-21 591 -22 940 -23 866 -25 496

-5 128 -5 502 -5 706 -6 926

8 177 -26 738 -27 791 -32 943

1 956 3 419 32 3 742

-5 -168 310 868

6 226 -29 989 -28 133 -37 553

-6 547 -7 541 -8 795 -12 150

-1 749 -287 -1 159 -2 056

1988 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

134 932 139 984 143 879 149 068

75 655 79 542 80 941 84 092

26 598 27 567 28 453 28 302

32 679 32 875 34 485 36 674

-161 810 -163 265 -165 901 -172 770

-109 963 -110 836 -110 901 -115 489

-24 503 -24 282 -24 588 -25 157

-27 344 -28 147 -30 412 -32 124

-6 074 -5 615 -5 902 -7 685

2 892 -23 428 -49 965 -36 074

1 502 39 -7 380 1 925

-1 597 -854 1 960 3 457

2 987 -22 613 -44 545 -41 456

-5 037 -2 594 -7 791 -7 105

-4 504 1 318 -1 500 -3 294

1989 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

155 853 163 435 163 560 165 444

86 322 91 482 90 743 91 369

30 576 31 110 32 316 33 087

38 955 40 843 40 501 40 988

-178 297 -182 850 -178 980 -181 480

-118 709 -121 012 -117 459 -120 485

-25 140 -25 241 -25 792 -26 306

-34 448 -36 597 -35 729 -34 689

-6 048 -5 753 -6 630 -7 739

-53 703 -8 202 -51 678 -61 803

-4 000 -12 095 -5 996 -3 202

961 -306 489 87

-50 664 4 199 -46 171 -58 688

-12 136 -7 686 -8 704 -14 922

-2 225 -6 192 -9 149 -4 504

1A 2A 3A

minus sign indicates imports of goods or services or income payments. minus sign indicates net unilateral transfers to foreigners. minus sign indicates financial outflows or increases in U.S. official assets. . . . = Not available.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

433

Table 19-10. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) U.S.-owned assets abroad, net 4 —Continued

Foreign-owned assets in the United States, net 4

Balance on:

Other foreign assets in the United States, net U.S. private assets, net—Continued Year and quarter

U.S. claims

Total

On unaffiliated Reported by foreigners reported U.S. banks, by U.S. nonbanking not included concerns elsewhere

Foreign official assets in the United States, net

Total

Direct investment

U.S. liabilities Statistical U.S. U.S. discrepTreasury securities To unaffiliated Reported ancy 5 foreigners securities other than by U.S. reported by and U.S. U.S. banks, not U.S. currency Treasury included nonbanking flows securities elsewhere concerns

Goods and services

Current account

1975 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

353 112 -939 -883

-3 772 -3 825 -649 -5 286

2 788 4 371 2 991 7 021

3 419 2 244 -1 731 3 095

-631 2 127 4 722 3 926

278 870 86 1 369

892 10 2 424 764

344 385 737 1 038

359 55 -163 68

-2 504 807 1 638 687

3 581 206 -1 972 2 602

3 374 4 532 2 129 2 369

4 207 5 014 4 080 4 813

1976 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-747 -999 616 -1 166

-3 701 -4 786 -3 320 -9 561

7 769 8 453 9 120 12 677

3 699 4 039 2 958 6 997

4 070 4 414 6 162 5 680

1 471 1 086 999 790

737 -91 3 325 312

1 036 134 64 51

154 -231 -184 -317

672 3 516 1 958 4 844

2 029 1 600 1 582 3 748

72 -1 246 -2 077 -2 833

2 566 1 648 -84 163

1977 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-771 -1 124 1 310 -1 355

3 684 -4 582 -1 779 -8 750

3 062 14 781 14 676 20 703

5 554 7 888 8 257 15 117

-2 492 6 893 6 419 5 586

980 965 1 023 761

1 181 -799 1 651 401

749 589 337 763

-98 -102 768 518

-5 304 6 240 2 640 3 143

823 432 -5 622 268

-6 099 -6 250 -6 156 -8 745

-2 687 -3 031 -2 757 -5 862

1978 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-2 241 315 -29 -1 898

-6 270 -98 -5 132 -22 167

18 684 1 551 17 582 29 220

15 448 -5 113 4 903 18 440

3 236 6 664 12 679 10 780

1 356 2 313 2 620 1 608

1 381 1 493 -368 ...

396 1 082 296 480

507 304 912 166

-404 1 472 9 219 5 854

3 555 7 832 -4 212 2 060

-10 925 -6 741 -6 944 -5 154

-7 020 -3 777 -3 667 -679

1979 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-3 854 716 -1 826 -50

5 926 -7 921 -17 833 -6 385

2 707 7 663 25 349 5 134

-8 697 -9 775 6 036 -1 228

11 404 17 438 19 313 6 362

1 554 3 354 3 382 3 588

... 743 2 402 ...

409 524 166 252

-296 799 210 908

6 773 12 018 13 153 663

5 558 8 593 884 9 317

-5 092 -6 140 -6 291 -7 043

-424 -691 923 -98

1980 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-1 927 144 365 -2 605

-1 203 -20 165 -12 440 -13 030

9 582 11 373 14 930 26 726

-7 413 7 731 7 564 7 614

16 995 3 643 7 366 19 112

3 321 5 756 4 713 3 128

... 229 222 2 394

2 435 496 263 2 263

340 1 671 1 252 3 590

6 599 -4 509 916 7 737

6 539 14 292 403 -348

-10 916 -4 922 -929 -2 641

-3 459 -941 4 333 2 383

1981 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-2 944 513 458 -2 404

-11 664 -15 002 -15 310 -42 199

9 819 15 364 17 531 43 519

5 502 -3 159 -5 992 8 609

4 317 18 523 23 523 34 910

3 146 5 294 5 505 11 251

2 486 1 641 ... ...

2 357 3 512 704 332

121 13 1 084 -301

-3 793 8 063 16 478 21 380

11 140 7 566 -1 667 4 750

-4 363 -4 095 -2 777 -4 934

963 1 228 2 081 759

1982 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

2 220 -1 095 3 670 2 028

-33 343 -39 403 -21 405 -16 919

27 240 35 260 18 663 15 424

-3 265 1 534 2 694 2 629

30 505 33 726 15 969 12 795

... 2 945 2 849 4 685

1 297 ... ... ...

1 263 2 486 555 1 781

-65 -2 023 -282 -13

25 856 26 125 10 756 2 896

9 325 3 653 8 876 14 775

-5 056 -2 145 -8 398 -8 555

-285 3 789 -4 040 -4 997

1983 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-4 253 -590 -1 764 -4 347

-20 303 3 518 -3 616 -9 527

16 266 16 325 20 420 35 682

-38 1 612 -2 689 6 960

16 304 14 713 23 109 28 722

1 254 3 287 4 059 1 771

... ... ... 3 452

2 873 2 470 1 777 1 044

-2 763 -64 1 311 1 398

11 227 4 404 13 654 21 057

15 090 -5 570 4 619 2 027

-7 271 -12 907 -17 871 -19 720

-2 517 -7 833 -12 901 -15 444

1984 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-3 012 -934 3 987 492

-1 557 -20 146 17 817 -7 241

23 302 42 689 7 568 44 192

-2 956 -156 -884 7 136

26 258 42 845 8 452 37 056

4 858 8 625 4 432 6 552

2 450 8 036 6 103 10 512

1 333 362 1 447 9 426

6 092 4 232 1 662 4 640

11 525 21 590 -5 192 5 926

5 910 6 411 458 3 953

-25 527 -28 012 -27 257 -28 276

-20 930 -23 439 -23 384 -26 589

1985 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

475 2 337 -2 779 -10 375

284 3 325 3 847 -8 779

18 342 29 334 38 263 60 179

-10 962 8 502 2 506 -1 165

29 304 20 832 35 757 61 344

4 913 4 376 4 839 5 618

3 390 6 888 9 136 6 219

9 615 7 194 11 669 22 484

-720 1 724 2 801 6 046

12 106 650 7 312 20 977

10 597 1 619 -1 265 5 528

-24 933 -30 473 -31 263 -35 212

-23 519 -28 689 -31 303 -34 648

1986 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-6 230 -2 722 -7 638 -5 183

4 916 -13 660 -18 909 -32 322

41 489 53 710 70 876 63 933

2 712 15 918 15 789 1 229

38 777 37 792 55 087 62 704

3 431 5 520 8 746 17 723

6 420 4 620 -854 -2 277

18 730 22 752 17 107 12 380

696 1 635 1 947 -953

9 500 3 265 28 141 35 831

10 042 6 851 -282 11 975

-34 487 -33 069 -35 635 -35 343

-34 209 -35 692 -38 049 -39 226

1987 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-5 715 712 -1 319 -724

20 237 -22 873 -16 860 -22 623

42 247 57 331 83 145 65 910

14 199 10 444 764 19 980

28 048 46 887 82 381 45 930

12 883 8 593 20 763 16 230

-2 326 -731 -1 835 2 649

18 372 15 960 12 676 -4 888

6 151 5 595 6 656 -39

-7 032 17 470 44 121 31 978

-11 246 9 301 -15 319 8 222

-36 998 -38 243 -38 042 -38 406

-39 265 -39 985 -40 129 -41 282

1988 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-3 454 -9 954 -5 217 -2 568

15 982 -11 383 -30 037 -28 489

32 028 74 531 52 797 87 166

24 925 6 006 -1 974 10 801

7 103 68 525 54 771 76 365

8 425 13 717 13 778 21 815

6 511 7 673 4 743 7 112

2 423 9 702 7 464 6 764

12 593 6 742 6 399 7 159

-22 849 30 691 22 387 33 515

-2 077 -22 325 24 962 -19 841

-32 213 -28 009 -26 095 -28 252

-32 952 -28 896 -27 924 -31 387

1989 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-9 293 -5 767 -5 924 -6 662

-27 010 23 844 -22 394 -32 600

66 666 10 980 74 068 73 215

7 700 -5 114 13 060 -7 142

58 966 16 094 61 008 80 357

18 584 15 325 11 519 22 846

10 961 4 789 12 744 7 024

8 544 9 365 10 270 10 588

6 637 12 000 -1 121 4 570

14 240 -25 385 27 596 35 329

15 401 22 257 -479 12 427

-26 951 -23 661 -20 192 -22 335

-28 492 -25 168 -22 050 -23 775

4A minus sign indicates financial outflows or decreases 5Sum of credits and debits with the sign reversed.

. . . = Not available.

in foreign official assets in the United States.

434

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-10. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) Exports of goods, services, and income

Year and quarter Total

Goods

Services

Income receipts

Imports of goods, services, and income 1

Total

Goods

U.S.-owned assets abroad, net 3

Unilateral current Income transfers, Services payments net 2

Total

U.S. official reserve assets, net

U.S. government assets other than official reserve assets, net

U.S. private assets, net

Total

Direct investment

Foreign securities

1990 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

171 856 174 266 176 466 184 389

95 070 96 273 97 227 98 831

35 016 35 988 37 402 39 428

41 770 42 005 41 837 46 130

-188 962 -186 146 -190 664 -193 514

-124 947 -121 782 -124 132 -127 577

-28 173 -28 764 -29 923 -30 795

-35 842 -35 600 -36 609 -35 142

-6 540 -7 644 -7 339 -5 133

37 828 -37 204 -43 716 -38 142

-3 177 371 1 739 -1 092

-756 -796 -338 4 205

41 761 -36 779 -45 117 -41 255

-10 391 -4 651 -17 898 -4 240

-8 580 -11 037 -1 037 -8 111

1991 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

181 296 180 627 181 647 183 993

101 258 102 674 104 238 105 913

37 891 40 745 41 860 43 766

42 147 37 208 35 549 34 314

-186 167 -181 695 -182 800 -183 906

-122 326 -120 103 -122 448 -126 143

-29 801 -29 660 -29 200 -29 799

-34 040 -31 932 -31 152 -27 964

14 828 3 593 -3 033 -5 488

-10 570 745 -15 900 -38 664

-353 1 014 3 878 1 226

549 -423 3 256 -459

-10 766 154 -23 034 -39 431

-14 318 -1 230 -9 356 -12 987

-9 960 -12 021 -12 550 -11 142

1992 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

186 444 186 873 188 127 189 201

108 062 107 941 110 847 112 781

44 164 44 133 44 609 44 343

34 218 34 799 32 671 32 077

-185 468 -190 414 -193 313 -196 427

-127 962 -132 484 -136 048 -140 034

-29 762 -29 443 -30 175 -30 182

-27 744 -28 487 -27 090 -26 211

-7 210 -8 349 -7 982 -11 561

-11 428 -16 235 -13 570 -33 177

-1 057 1 464 1 952 1 542

-259 -302 -392 -715

-10 112 -17 397 -15 130 -34 004

-20 695 -10 268 -5 157 -12 145

-8 668 -8 196 -13 059 -19 243

1993 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

191 422 193 169 194 153 200 170

112 099 113 257 112 982 118 605

45 984 46 457 46 707 46 766

33 339 33 455 34 464 34 799

-197 860 -204 737 -205 549 -215 772

-142 331 -146 800 -147 763 -152 500

-29 996 -30 661 -30 922 -32 202

-25 533 -27 276 -26 864 -31 070

-8 339 -9 111 -9 906 -12 456

-21 491 -45 843 -52 975 -80 243

-983 822 -544 -673

487 -304 -194 -340

-20 995 -46 361 -52 237 -79 230

-14 982 -23 264 -13 155 -32 550

-28 208 -29 833 -51 940 -36 272

1994 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

204 240 211 812 222 795 230 930

118 833 122 251 128 947 132 828

48 362 49 978 50 667 51 391

37 045 39 583 43 181 46 711

-220 726 -231 476 -244 319 -254 602

-156 303 -163 200 -171 342 -177 845

-32 809 -33 023 -33 624 -33 603

-31 614 -35 253 -39 353 -43 154

-8 495 -8 914 -10 084 -12 773

-39 740 -45 677 -31 948 -61 574

-59 3 537 -165 2 033

399 477 -323 -943

-40 080 -49 691 -31 460 -62 664

-28 554 -14 932 -17 316 -19 367

-19 540 -11 834 -13 368 -18 448

1995 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

241 117 248 705 255 495 259 310

138 370 142 520 146 536 147 778

52 173 53 163 56 436 57 408

50 574 53 022 52 523 54 124

-263 108 -271 587 -272 929 -272 501

-183 966 -189 910 -187 685 -187 813

-34 426 -35 097 -35 604 -36 272

-44 716 -46 580 -49 640 -48 416

-9 467 -9 156 -9 570 -9 982

-64 771 -118 089 -47 311 -122 091

-5 318 -2 722 -1 893 191

-553 -225 252 -458

-58 900 -115 142 -45 670 -121 824

-19 325 -15 078 -21 772 -42 573

-8 596 -27 964 -42 116 -43 718

1996 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

263 221 266 995 266 854 280 655

150 552 152 861 151 856 156 844

57 442 59 350 58 664 64 029

55 227 54 784 56 334 59 782

-279 419 -287 312 -293 261 -299 487

-194 445 -200 070 -202 367 -206 231

-37 090 -37 606 -38 836 -39 023

-47 884 -49 636 -52 058 -54 233

-11 272 -9 554 -9 686 -12 636

-80 431 -68 123 -91 580 -173 272

17 -523 7 489 -315

-210 -568 105 -316

-80 238 -67 032 -99 174 -172 641

-23 759 -15 096 -23 129 -29 898

-43 538 -30 579 -33 178 -42 020

1997 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

287 298 299 738 303 592 300 816

162 670 170 249 173 155 172 292

62 534 64 351 64 905 64 483

62 094 65 138 65 532 64 041

-313 518 -318 324 -325 636 -329 667

-214 188 -217 306 -220 853 -224 123

-40 553 -40 983 -42 242 -42 702

-58 777 -60 035 -62 541 -62 842

-10 004 -10 303 -10 704 -14 194

-152 729 -93 152 -119 387 -120 209

4 480 -236 -730 -4 524

-76 -298 377 65

-157 133 -92 618 -119 034 -115 750

-29 544 -24 883 -21 217 -29 161

-24 352 -31 275 -51 401 -9 824

1998 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

302 233 298 900 293 199 300 980

171 060 165 559 164 054 169 743

64 728 66 228 64 870 67 251

66 445 67 113 64 275 63 986

-333 940 -337 687 -338 677 -345 756

-227 353 -228 197 -227 430 -234 123

-43 412 -44 780 -46 021 -47 191

-63 175 -64 710 -65 226 -64 442

-12 088 -12 393 -13 175 -15 662

-74 438 -138 628 -58 520 -82 245

-444 -1 945 -2 025 -2 369

-80 -483 188 -47

-73 914 -136 200 -56 683 -79 829

-41 844 -44 689 -20 479 -35 634

-19 451 -42 961 7 783 -75 575

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

300 257 307 426 320 016 332 674

164 302 166 144 172 989 180 530

68 829 70 276 71 265 72 109

67 126 71 006 75 762 80 035

-351 339 -366 892 -388 337 -403 305

-238 715 -250 093 -264 363 -276 809

-47 843 -49 385 -50 965 -51 664

-64 781 -67 414 -73 009 -74 832

-11 919 -12 291 -12 021 -14 324

-84 623 -182 426 -123 490 -113 524

4 068 1 159 1 951 1 569

118 -392 -686 3 710

-88 809 -183 193 -124 755 -118 803

-68 498 -50 190 -64 062 -42 185

2 696 -69 682 -39 790 -15 460

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

341 910 355 482 360 539 364 471

185 253 191 227 198 811 196 703

73 354 75 510 74 906 75 719

83 303 88 745 86 822 92 049

-427 456 -441 277 -454 135 -456 757

-293 664 -301 569 -312 780 -316 395

-54 523 -55 596 -57 795 -57 439

-79 269 -84 112 -83 560 -82 923

-12 894 -13 402 -14 246 -18 240

-207 606 -107 301 -84 847 -160 771

-554 2 020 -346 -1 410

-127 -570 114 -358

-206 925 -108 751 -84 615 -159 003

-34 934 -52 029 -39 618 -32 633

-32 542 -38 171 -32 363 -24 832

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

350 876 335 316 311 942 297 308

193 976 185 030 172 648 167 058

74 938 74 445 71 398 67 645

81 962 75 841 67 896 62 605

-443 202 -417 729 -401 689 -370 373

-309 396 -290 214 -277 881 -268 409

-56 771 -58 218 -55 441 -53 539

-77 035 -69 297 -68 367 -48 425

-15 268 -15 992 -3 114 -17 530

-216 194 -86 702 32 858 -112 577

190 -1 343 -3 559 -199

77 -783 77 143

-216 461 -84 576 36 340 -112 521

-35 381 -26 783 -44 327 -35 857

-25 355 -50 200 11 639 -26 728

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

301 512 312 943 319 154 314 463

165 171 172 131 174 241 170 879

71 384 72 821 74 138 76 511

64 957 67 991 70 775 67 073

-393 183 -417 356 -424 507 -424 184

-273 155 -291 124 -297 169 -303 272

-56 577 -57 285 -58 780 -61 095

-63 451 -68 947 -68 558 -59 817

-18 420 -14 873 -14 726 -16 027

-84 219 -139 716 884 -70 978

390 -1 843 -1 416 -812

133 42 -27 197

-84 742 -137 915 2 327 -70 363

-48 155 -36 163 -33 165 -36 979

-9 012 -20 735 4 884 -23 705

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

318 950 322 353 333 656 357 435

173 167 174 696 178 186 187 372

75 077 73 785 77 876 82 410

70 706 73 872 77 594 87 653

-437 867 -433 896 -445 003 -464 135

-311 028 -309 763 -313 476 -326 450

-62 049 -61 568 -65 285 -67 759

-64 790 -62 565 -66 242 -69 926

-17 743 -17 251 -17 634 -18 543

-91 631 -142 267 -25 442 -69 057

83 -170 -611 2 221

53 310 483 -309

-91 767 -142 407 -25 314 -70 969

-15 593 -43 104 -40 858 -41 024

-42 099 -17 474 -47 918 -48 573

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

363 494 376 564 385 874 405 041

193 789 200 072 204 801 208 874

83 304 85 027 85 569 90 013

86 401 91 465 95 504 106 154

-487 324 -522 684 -537 085 -571 026

-345 241 -364 059 -372 576 -391 050

-70 704 -73 082 -75 259 -77 058

-71 379 -85 543 -89 250 -102 918

-22 271 -20 515 -15 771 -22 374

-295 140 -133 886 -137 525 -288 957

557 1 122 429 697

727 -2 -11 501

-296 424 -135 006 -137 943 -290 155

-52 367 -58 425 -41 222 -99 997

-15 532 -30 181 -38 444 -18 226

1A 2A 3A

minus sign indicates imports of goods or services or income payments. minus sign indicates net unilateral transfers to foreigners. minus sign indicates financial outflows or increases in U.S. official assets.

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES Table 19-10. U.S. International Transactions—Continued (Millions of dollars, seasonally adjusted.) U.S.-owned assets abroad, net 4 —Continued

Foreign-owned assets in the United States, net 4

Balance on:

Other foreign assets in the United States, net U.S. private assets, net—Continued Year and quarter

U.S. claims

Total

On unaffiliated Reported by foreigners reported U.S. banks, by U.S. nonbanking not included concerns elsewhere

Foreign official assets in the United States, net

Total

Direct investment

U.S. liabilities Statistical U.S. U.S. discrepTreasury securities To unaffiliated Reported ancy 5 foreigners securities other than by U.S. reported by and U.S. U.S. banks, not U.S. currency Treasury included nonbanking flows securities elsewhere concerns

Goods and services

Current account

1990 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

3 019 -5 069 -15 514 -10 260

57 713 -16 022 -10 668 -18 644

-22 824 41 215 63 231 59 949

-6 421 6 207 13 937 20 186

-16 403 35 008 49 294 39 763

15 774 13 773 8 313 10 635

1 709 6 257 6 044 2 256

1 311 2 114 -2 874 1 041

12 904 6 713 16 838 8 678

-48 101 6 151 20 973 17 153

8 661 15 356 1 857 -667

-23 034 -18 285 -19 426 -20 113

-23 646 -19 524 -21 537 -14 258

1991 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-40 7 902 3 341 -106

13 552 5 503 -4 469 -15 196

8 347 12 678 33 236 56 549

5 569 -4 913 3 854 12 879

2 778 17 591 29 382 43 670

4 076 13 378 -1 354 7 072

9 539 15 661 3 004 6 022

5 023 14 872 10 310 4 939

-586 -2 549 4 761 -4 741

-15 274 -23 771 12 661 30 378

-6 793 -16 021 -9 364 -12 659

-12 978 -6 344 -5 550 -6 263

9 957 2 525 -4 186 -5 401

1992 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

7 562 -6 620 -3 737 2 408

11 689 7 687 6 823 -5 024

31 079 50 304 35 469 53 809

20 988 20 879 -7 524 6 133

10 091 29 425 42 993 47 676

2 086 5 916 2 898 8 922

1 986 11 331 11 008 26 206

4 569 10 467 2 531 12 476

5 689 3 954 4 854 -924

-4 239 -2 243 21 702 996

-13 280 -22 004 -8 600 -1 731

-5 498 -9 853 -10 767 -13 092

-6 234 -11 890 -13 168 -18 787

1993 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-6 130 -725 5 896 1 725

28 325 7 461 6 962 -12 133

25 099 59 038 85 694 112 210

10 937 17 466 19 073 24 277

14 162 41 572 66 621 87 933

8 060 11 386 11 688 20 229

16 363 5 608 9 658 11 652

9 694 15 205 17 782 37 411

-215 6 531 288 3 885

-19 740 2 842 27 205 14 756

11 927 7 634 -11 185 -3 750

-14 244 -17 747 -18 996 -19 331

-14 777 -20 679 -21 302 -28 058

1994 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-2 215 -20 966 -960 -12 195

10 229 -1 959 184 -12 654

90 280 56 842 81 934 76 933

10 568 9 455 19 358 202

79 712 47 387 62 576 76 731

5 883 5 767 13 709 20 762

15 412 -798 10 361 32 699

21 070 12 352 13 389 10 160

5 856 4 269 -1 620 -7 203

31 491 25 797 26 737 20 313

-25 401 18 424 -17 982 21 244

-21 917 -23 994 -25 352 -27 229

-24 981 -28 578 -31 608 -36 445

1995 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-2 631 -24 580 13 729 -31 804

-28 348 -47 520 4 489 -3 729

97 915 122 149 116 366 102 132

21 956 37 072 39 302 11 550

75 959 85 077 77 064 90 582

9 924 11 888 16 764 19 200

34 410 30 338 37 194 1 902

12 400 15 851 26 218 22 780

17 764 11 864 13 493 16 516

1 461 15 136 -16 605 30 184

-1 511 28 024 -41 414 43 201

-27 849 -29 324 -20 317 -18 899

-31 458 -32 038 -27 004 -23 173

1996 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-15 210 -22 000 -9 090 -40 033

2 269 643 -33 777 -60 690

85 255 101 405 144 109 220 326

51 771 13 503 23 020 38 430

33 484 87 902 121 089 181 896

28 518 16 184 15 257 26 542

13 646 29 514 44 116 77 108

20 356 24 686 29 719 28 511

4 350 15 259 28 925 5 202

-33 386 2 259 3 072 44 533

22 811 -3 254 -16 280 -15 433

-23 541 -25 465 -30 683 -24 381

-27 470 -29 871 -36 093 -31 468

1997 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-38 112 -9 885 -22 173 -51 590

-65 125 -26 575 -24 243 -25 175

173 005 140 719 167 223 225 860

27 763 -6 019 23 474 -26 182

145 242 146 738 143 749 252 042

28 626 23 150 17 865 35 960

32 537 38 750 42 709 41 221

38 490 45 651 52 544 24 724

25 055 6 461 25 550 59 452

20 534 32 726 5 081 90 685

16 149 -18 405 -14 788 -62 366

-29 537 -23 689 -25 035 -30 050

-36 224 -28 889 -32 748 -43 045

1998 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-7 822 -20 363 -15 658 5 639

-4 797 -28 187 -28 329 25 741

79 170 155 055 75 963 113 381

11 072 -10 235 -46 640 25 900

68 098 165 290 122 603 87 481

19 759 20 391 23 490 115 405

-5 789 24 163 2 195 24 634

63 237 56 146 6 628 30 304

39 833 30 722 14 976 -62 391

-48 942 33 868 75 314 -20 471

39 241 34 927 41 391 29 471

-34 977 -41 190 -44 527 -44 320

-43 795 -51 180 -58 653 -60 438

1999 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-47 211 -27 021 -13 663 -9 809

24 204 -36 300 -7 240 -51 349

109 283 247 860 156 858 226 210

4 381 -757 12 625 27 294

104 902 248 617 144 233 198 916

28 759 140 759 50 758 69 169

-10 887 -8 355 8 382 -11 230

49 157 70 205 86 202 93 270

51 307 16 928 -8 777 16 789

-13 434 29 080 7 668 30 918

38 529 6 506 47 150 -23 390

-53 427 -63 058 -71 074 -75 834

-63 001 -71 757 -80 342 -84 955

2000 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-79 800 -25 287 -14 121 -19 582

-59 649 6 736 1 487 -81 956

248 698 247 559 246 185 304 456

22 542 6 952 11 354 1 910

226 156 240 607 234 831 302 546

52 094 91 669 79 979 97 534

-17 860 -21 894 -12 656 -12 258

129 306 88 189 122 138 120 256

72 433 28 796 16 914 52 529

-9 817 53 847 28 456 44 485

57 553 -40 843 -53 247 -32 902

-89 580 -90 428 -96 858 -101 412

-98 440 -99 197 -107 842 -110 526

2001 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-46 769 -7 507 1 824 43 932

-108 956 -86 67 204 -93 868

332 155 207 866 22 936 219 902

21 333 -19 965 15 653 11 038

310 822 227 831 7 283 208 864

59 145 59 338 13 783 34 755

-15 348 -9 144 205 33 692

129 474 108 537 60 748 95 126

112 097 -173 -23 171 -22 643

25 454 69 273 -44 282 67 934

-8 072 -22 455 37 387 -16 426

-97 253 -88 957 -89 276 -87 245

-107 594 -98 405 -92 861 -90 595

2002 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-27 176 -13 684 -7 451 -1 092

-399 -67 333 38 059 -8 587

176 523 230 205 161 608 226 004

12 801 53 312 18 328 31 504

163 722 176 893 143 280 194 500

28 455 6 343 11 326 34 714

14 852 26 013 56 616 24 435

73 750 99 689 43 282 66 578

56 228 17 565 9 941 12 198

-9 563 27 283 22 115 56 575

18 082 29 103 -42 040 -28 889

-93 177 -103 457 -107 570 -116 977

-110 091 -119 286 -120 079 -125 748

2003 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-1 952 -16 383 21 818 -27 723

-32 123 -65 446 41 644 46 351

240 593 240 143 140 909 267 397

50 622 66 889 64 595 96 169

189 971 173 254 76 314 171 228

32 327 824 5 825 28 114

12 089 59 481 42 207 7 243

51 997 87 725 14 298 72 286

72 474 13 379 8 875 4 948

21 084 11 845 5 109 58 637

-11 879 32 514 14 351 -72 739

-124 833 -122 850 -122 699 -124 427

-136 660 -128 794 -128 981 -125 243

2004 1st quarter ............. 2nd quarter ............ 3rd quarter ............. 4th quarter .............

-55 452 -5 390 -13 490 -74 669

-173 073 -41 010 -44 787 -97 263

423 023 304 937 254 228 457 915

147 401 77 039 75 792 94 478

275 622 227 898 178 436 363 437

8 503 31 039 35 666 31 622

30 131 69 178 1 453 21 023

45 476 81 678 84 401 158 238

44 623 3 887 14 752 61 096

146 889 42 116 42 164 91 458

18 646 -4 044 50 672 19 856

-138 852 -152 042 -157 465 -169 221

-146 101 -166 635 -166 982 -188 359

4A minus sign indicates financial outflows or decreases 5Sum of credits and debits with the sign reversed.

in foreign official assets in the United States.

435

436

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-11. Productivity and Related Data (1992 = 100, seasonally adjusted.) Business sector Year and quarter

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Nonfarm business sector Unit labor costs

Unit nonlabor payments

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

Unit nonlabor payments

Implicit price deflator

1947 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

32.1 32.3 32.1 32.4

20.2 20.3 20.4 20.7

63.1 63.0 63.5 64.0

6.8 7.0 7.0 7.3

40.6 41.0 40.4 40.8

21.2 21.6 21.9 22.4

17.9 18.0 18.8 19.4

20.0 20.2 20.7 21.3

36.5 37.4 36.3 37.8

19.7 20.2 19.7 20.7

54.0 54.0 54.2 54.7

7.2 7.4 7.5 7.7

43.2 43.3 43.3 43.2

19.9 19.7 20.7 20.4

16.7 17.7 18.2 18.6

18.7 19.0 19.8 19.7

1948 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

33.2 33.9 33.8 34.0

21.1 21.6 21.7 21.7

63.6 63.7 64.2 63.8

7.4 7.5 7.7 7.9

40.5 40.4 40.8 42.2

22.3 22.1 22.8 23.1

20.2 21.0 20.9 20.3

21.5 21.7 22.1 22.1

37.9 37.9 38.0 38.2

20.9 20.9 21.0 21.0

55.0 55.0 55.4 54.9

7.9 8.0 8.2 8.3

43.4 43.3 43.5 44.5

20.8 21.2 21.6 21.7

18.8 19.2 19.5 20.0

20.1 20.4 20.8 21.1

1949 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

33.9 34.0 35.0 35.1

21.3 21.2 21.5 21.2

62.9 62.4 61.3 60.6

7.7 7.6 7.7 7.8

41.7 41.2 42.2 42.8

22.8 22.3 22.0 22.3

20.5 20.5 20.6 20.1

21.9 21.6 21.5 21.5

38.6 39.0 39.9 39.7

20.8 20.7 21.0 20.7

54.0 53.1 52.5 52.3

8.3 8.3 8.4 8.4

45.1 45.0 45.6 45.7

21.6 21.3 20.9 21.1

19.8 19.7 20.3 19.9

21.0 20.8 20.7 20.6

1950 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

36.7 37.0 37.7 37.9

22.3 23.0 24.0 24.3

60.7 62.1 63.7 64.1

8.1 8.2 8.3 8.5

44.4 44.5 44.4 44.5

22.1 22.0 22.0 22.4

20.3 20.7 22.0 22.7

21.4 21.5 22.0 22.5

41.0 41.5 42.5 42.5

21.6 22.4 23.6 23.9

52.7 54.0 55.7 56.2

8.6 8.7 8.9 9.1

47.0 47.5 47.6 48.0

20.9 21.0 20.9 21.5

20.4 20.4 21.1 21.4

20.7 20.8 21.0 21.4

1951 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

37.8 38.0 39.2 39.0

24.5 24.8 25.2 25.2

64.7 65.1 64.3 64.5

8.8 9.0 9.2 9.2

44.2 44.9 45.8 45.5

23.2 23.7 23.4 23.7

23.6 23.4 23.8 24.0

23.3 23.6 23.5 23.8

42.6 42.5 43.5 43.6

24.3 24.5 24.8 24.9

57.2 57.6 57.1 57.1

9.4 9.5 9.7 9.8

47.2 47.7 48.4 48.3

22.0 22.5 22.3 22.6

22.2 22.1 22.8 22.7

22.1 22.3 22.5 22.6

1952 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

39.1 39.5 39.6 40.2

25.4 25.3 25.5 26.5

64.8 64.1 64.3 65.9

9.3 9.5 9.7 9.9

45.8 46.6 46.9 47.9

23.9 24.1 24.4 24.6

23.5 23.0 23.2 23.0

23.7 23.7 23.9 24.0

43.7 43.7 43.5 44.3

25.1 25.0 25.1 26.2

57.4 57.2 57.6 59.2

10.0 10.0 10.1 10.4

48.8 49.1 49.2 50.4

22.8 23.0 23.3 23.5

22.4 22.1 22.2 22.4

22.7 22.6 22.9 23.1

1953 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

40.7 41.1 41.1 41.0

27.0 27.2 27.0 26.5

66.2 66.2 65.6 64.5

10.1 10.2 10.3 10.3

48.9 49.3 49.8 49.6

24.7 24.7 25.1 25.1

22.8 22.7 22.4 22.4

24.0 24.0 24.1 24.1

44.6 44.7 45.0 44.8

26.7 26.8 26.7 26.1

59.8 59.9 59.3 58.4

10.5 10.7 10.8 10.9

51.2 51.6 52.0 52.3

23.6 23.8 23.9 24.2

22.4 22.3 22.3 21.8

23.1 23.3 23.3 23.4

1954 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

41.0 41.5 42.2 42.8

26.3 26.3 26.6 27.1

64.1 63.2 63.0 63.4

10.4 10.5 10.6 10.7

49.8 50.7 50.9 51.8

25.3 25.3 25.0 25.0

22.3 22.1 22.7 22.8

24.2 24.1 24.2 24.2

44.9 45.2 46.0 46.5

25.8 25.8 26.2 26.8

57.6 57.1 56.9 57.6

11.0 11.0 11.1 11.2

52.7 52.8 53.4 54.0

24.4 24.3 24.1 24.0

21.7 22.1 22.4 22.8

23.4 23.5 23.5 23.6

1955 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

43.5 43.8 43.7 43.4

28.1 28.6 29.0 29.1

64.6 65.3 66.2 67.0

10.7 10.8 10.8 10.9

51.5 52.3 52.3 52.8

24.5 24.7 24.7 25.2

23.9 23.8 24.2 24.1

24.3 24.3 24.5 24.8

47.4 47.5 47.7 47.5

27.8 28.2 28.6 28.8

58.6 59.3 59.9 60.7

11.3 11.4 11.5 11.6

54.4 55.0 55.7 56.2

23.7 23.9 24.1 24.5

23.5 23.5 23.8 23.8

23.7 23.8 24.0 24.2

1956 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

43.3 43.5 43.5 44.4

28.9 29.1 29.0 29.5

66.8 67.0 66.7 66.5

11.2 11.5 11.6 11.8

54.1 54.9 54.9 55.6

25.9 26.3 26.6 26.7

23.5 23.1 23.5 23.7

25.0 25.1 25.5 25.6

46.9 47.1 47.1 47.5

28.6 28.8 28.7 29.1

61.0 61.2 60.9 61.3

11.8 12.1 12.2 12.4

57.0 57.8 58.1 58.5

25.2 25.6 26.0 26.2

23.1 22.9 23.1 23.2

24.5 24.6 24.9 25.1

1957 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

44.6 44.7 45.2 45.6

29.7 29.5 29.8 29.5

66.5 66.1 66.1 64.6

12.1 12.2 12.3 12.5

56.3 56.4 56.4 57.1

27.0 27.3 27.2 27.4

24.1 24.1 24.5 24.1

25.9 26.1 26.2 26.2

48.1 47.9 48.6 48.8

29.5 29.3 29.6 29.1

61.3 61.2 60.9 59.6

12.6 12.8 12.9 13.1

58.9 59.0 59.2 59.7

26.3 26.6 26.6 26.8

23.9 23.7 24.0 23.7

25.4 25.5 25.6 25.7

1958 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

45.2 45.8 46.7 47.2

28.4 28.5 29.3 30.1

62.8 62.3 62.7 63.7

12.6 12.7 12.9 13.0

57.0 56.7 57.8 58.3

28.0 27.6 27.6 27.6

23.9 24.5 25.0 25.4

26.5 26.5 26.6 26.8

48.0 48.9 49.9 50.7

28.0 28.1 29.0 29.9

58.3 57.4 58.1 59.0

13.1 13.3 13.4 13.6

59.2 59.3 60.2 60.8

27.4 27.1 26.9 26.8

23.2 23.8 24.3 25.0

25.8 25.9 26.0 26.1

1959 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

47.6 47.9 48.2 48.3

30.8 31.7 31.6 31.7

64.7 66.2 65.6 65.5

13.2 13.2 13.4 13.6

58.9 58.9 59.4 59.8

27.7 27.6 27.8 28.1

25.2 25.4 25.2 24.9

26.8 26.8 26.8 26.9

50.8 51.5 51.4 51.4

30.5 31.5 31.4 31.4

60.1 61.3 61.1 61.1

13.7 13.8 13.9 14.1

61.2 61.7 61.8 62.0

27.0 26.9 27.1 27.4

24.9 25.1 25.0 24.8

26.2 26.2 26.3 26.4

1960 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

49.6 48.7 48.7 48.4

32.4 32.1 32.1 31.5

65.3 66.0 65.9 65.2

13.9 13.9 13.8 14.0

61.3 60.7 60.6 60.8

28.0 28.5 28.4 28.9

25.2 24.7 25.0 24.3

27.0 27.1 27.1 27.2

52.5 51.8 51.9 51.2

32.3 31.9 31.8 31.1

61.5 61.6 61.2 60.7

14.4 14.4 14.5 14.6

63.3 63.2 63.6 63.4

27.3 27.9 28.0 28.5

25.0 24.2 24.4 23.8

26.5 26.5 26.6 26.7

1961 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

48.9 50.6 51.1 51.7

31.7 32.4 33.0 33.6

64.8 64.1 64.5 65.1

14.1 14.4 14.5 14.7

61.2 62.6 62.8 63.4

28.9 28.5 28.4 28.4

24.5 25.2 25.5 25.7

27.2 27.3 27.3 27.4

51.9 53.3 54.1 54.6

31.3 32.1 32.7 33.5

60.3 60.2 60.5 61.3

14.7 14.9 15.0 15.1

63.9 64.8 65.0 65.4

28.4 28.0 27.8 27.7

24.0 24.8 25.2 25.3

26.8 26.8 26.8 26.8

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

437

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Nonfinancial corporations Year and quarter

Output per hour of all employees

Output

Employee hours

Real Compencompensation sation per hour per hour

Manufacturing

Unit costs Total

Labor costs

Nonlabor costs

Unit profits

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

1947 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1948 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1949 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1950 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1951 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1952 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1953 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1954 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1955 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1956 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1957 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1958 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

51.5 52.2 53.2 54.3

24.8 24.7 25.5 26.5

48.2 47.3 47.9 48.8

14.8 14.9 15.1 15.3

66.6 66.6 67.6 68.2

27.4 27.3 27.1 26.7

28.7 28.5 28.4 28.1

23.7 24.1 23.6 22.8

42.8 43.7 48.1 53.8

28.7 28.8 29.0 29.1

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1959 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

54.8 55.9 55.1 55.5

27.4 28.7 28.1 28.4

50.1 51.4 51.1 51.2

15.3 15.5 15.6 15.8

68.5 69.2 69.3 69.7

26.4 26.1 26.8 27.0

28.0 27.8 28.4 28.4

22.1 21.5 22.5 22.9

56.9 60.1 53.6 52.6

29.1 29.1 29.2 29.2

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1960 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

56.5 55.9 56.1 56.3

29.4 29.1 29.1 28.8

52.1 52.1 51.8 51.1

16.1 16.2 16.2 16.3

70.8 70.8 70.9 70.9

26.8 27.3 27.4 27.7

28.4 28.9 28.9 29.0

22.5 23.1 23.6 24.1

54.8 50.1 49.2 46.6

29.3 29.4 29.4 29.4

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1961 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

56.4 57.8 58.3 59.2

28.5 29.4 30.0 30.9

50.6 50.8 51.4 52.2

16.4 16.6 16.8 17.0

71.3 72.3 72.6 73.2

27.9 27.5 27.4 27.2

29.1 28.8 28.8 28.7

24.5 23.9 23.6 23.2

45.5 49.8 51.3 54.1

29.5 29.5 29.5 29.6

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

. . . = Not available.

438

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Business sector Year and quarter

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Nonfarm business sector Unit labor costs

Unit nonlabor payments

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

Unit nonlabor payments

Implicit price deflator

1962 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

52.2 52.5 53.2 53.6

34.3 34.7 35.0 35.1

65.8 66.2 65.8 65.3

14.8 15.0 15.1 15.3

63.8 64.3 64.7 65.3

28.4 28.6 28.4 28.6

26.0 25.8 26.2 26.1

27.5 27.6 27.6 27.6

55.5 55.4 56.1 56.5

34.2 34.5 34.9 34.9

61.5 62.3 62.1 61.7

15.4 15.5 15.6 15.7

66.2 66.4 66.7 67.1

27.7 28.0 27.8 27.9

25.7 25.6 26.0 25.9

27.0 27.1 27.1 27.1

1963 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

54.0 54.4 55.6 55.7

35.6 36.1 36.8 37.1

65.8 66.3 66.2 66.6

15.4 15.5 15.7 15.9

65.4 65.6 66.2 66.7

28.5 28.4 28.3 28.5

26.2 26.4 26.9 27.0

27.7 27.7 27.7 27.9

56.8 57.4 58.5 58.6

35.3 35.9 36.7 37.0

62.1 62.5 62.7 63.2

15.9 16.0 16.1 16.3

67.5 67.8 68.1 68.6

28.0 27.8 27.6 27.9

25.9 26.1 26.7 26.6

27.2 27.2 27.2 27.4

1964 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

56.5 56.6 57.2 56.9

38.1 38.5 39.1 39.1

67.4 68.0 68.4 68.8

16.0 16.1 16.3 16.4

66.9 67.3 68.0 68.2

28.3 28.4 28.5 28.9

27.4 27.3 27.4 27.1

27.9 28.0 28.1 28.2

59.2 59.6 60.0 59.4

38.1 38.5 39.1 39.0

64.3 64.6 65.0 65.7

16.3 16.5 16.7 16.8

68.3 69.0 69.7 69.9

27.6 27.7 27.8 28.3

27.2 27.3 27.4 26.8

27.4 27.5 27.7 27.8

1965 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

57.8 57.9 59.3 60.2

40.3 40.8 41.7 42.9

69.6 70.6 70.4 71.2

16.6 16.7 16.9 17.1

68.6 68.5 69.2 69.7

28.7 28.8 28.5 28.4

27.8 27.9 28.6 29.1

28.4 28.5 28.5 28.6

60.3 60.6 61.7 62.9

40.2 40.8 41.7 42.9

66.7 67.4 67.5 68.2

16.9 17.0 17.2 17.4

70.0 70.0 70.5 71.2

28.0 28.1 27.9 27.7

27.6 27.6 28.3 28.7

27.9 27.9 28.0 28.1

1966 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

61.3 60.9 61.0 61.5

44.0 44.1 44.3 44.5

71.9 72.4 72.5 72.4

17.5 17.8 18.1 18.4

70.7 71.3 71.8 72.4

28.5 29.2 29.6 29.9

29.3 28.8 28.8 29.2

28.8 29.0 29.3 29.6

63.7 63.3 63.4 63.8

44.1 44.2 44.5 44.7

69.1 69.8 70.1 70.0

17.8 18.0 18.3 18.5

71.8 72.2 72.6 73.0

27.9 28.5 28.8 29.0

28.8 28.5 28.5 29.1

28.2 28.5 28.7 29.1

1967 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

62.1 62.6 62.6 62.8

44.9 44.8 45.1 45.4

72.3 71.6 72.0 72.4

18.5 18.9 19.1 19.3

72.8 73.7 73.8 73.9

29.8 30.1 30.5 30.8

29.5 29.2 29.5 29.7

29.7 29.8 30.1 30.4

64.4 64.6 64.8 65.0

45.0 44.8 45.1 45.5

69.9 69.5 69.7 70.0

18.8 19.1 19.4 19.6

73.8 74.5 74.8 75.1

29.2 29.6 29.9 30.2

29.2 29.0 29.2 29.4

29.2 29.4 29.6 29.9

1968 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

64.2 64.8 64.9 64.8

46.5 47.3 47.6 47.8

72.4 73.0 73.4 73.8

19.9 20.3 20.7 21.1

75.4 76.0 76.5 77.0

31.0 31.3 31.9 32.5

30.2 30.7 30.3 30.4

30.7 31.0 31.3 31.7

66.5 67.1 67.0 66.9

46.6 47.5 47.8 48.0

70.1 70.8 71.3 71.7

20.2 20.5 20.9 21.3

76.5 77.0 77.2 77.8

30.4 30.6 31.1 31.8

30.0 30.5 30.2 30.2

30.2 30.6 30.8 31.2

1969 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

65.0 64.9 65.1 64.9

48.7 48.7 49.0 48.6

74.9 75.1 75.3 74.9

21.2 21.7 22.2 22.6

76.4 77.2 77.7 78.2

32.6 33.4 34.1 34.9

31.2 30.9 30.7 30.4

32.1 32.5 32.8 33.2

67.5 66.9 66.9 66.6

48.9 48.9 49.1 48.8

72.4 73.1 73.4 73.2

21.6 21.9 22.3 22.7

77.9 77.9 78.2 78.5

32.0 32.7 33.3 34.1

30.9 30.5 30.4 30.0

31.6 31.9 32.3 32.6

1970 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

65.2 66.0 67.2 66.8

48.6 48.7 49.2 48.5

74.5 73.8 73.3 72.6

23.1 23.4 23.8 24.1

78.5 78.4 79.0 78.9

35.4 35.4 35.5 36.1

30.4 31.5 31.9 32.0

33.5 34.0 34.2 34.6

66.8 67.9 68.9 68.3

48.7 48.8 49.3 48.5

72.9 71.9 71.6 71.0

23.2 23.6 24.0 24.2

78.7 79.0 79.5 79.2

34.7 34.7 34.8 35.4

30.0 31.3 31.6 31.8

33.0 33.4 33.6 34.1

1971 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

68.7 68.8 69.6 69.0

50.1 50.4 50.9 51.0

72.9 73.4 73.2 73.9

24.6 24.9 25.3 25.5

79.7 79.9 80.6 80.6

35.8 36.2 36.4 37.0

33.6 34.1 34.6 34.1

35.0 35.4 35.7 35.9

70.4 70.6 71.2 70.6

50.2 50.5 51.0 51.1

71.4 71.6 71.6 72.4

24.7 25.1 25.5 25.7

80.1 80.6 81.0 81.0

35.1 35.5 35.7 36.3

33.3 33.7 34.3 33.7

34.4 34.9 35.2 35.4

1972 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

69.7 71.4 71.5 72.3

52.2 53.7 54.3 55.3

74.9 75.3 75.9 76.5

26.1 26.4 26.7 27.3

81.8 82.3 82.6 83.6

37.5 37.1 37.4 37.8

34.5 35.7 36.0 36.4

36.4 36.5 36.9 37.3

71.6 73.1 73.5 74.1

52.5 53.9 54.5 55.5

73.2 73.8 74.2 75.0

26.3 26.6 27.0 27.6

82.3 82.9 83.4 84.2

36.7 36.4 36.8 37.2

34.2 35.1 35.2 35.0

35.8 35.9 36.2 36.4

1973 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

73.7 73.9 72.9 73.2

57.1 57.9 57.5 58.1

77.6 78.4 78.8 79.3

28.1 28.6 29.2 29.8

84.7 84.2 84.3 83.9

38.2 38.7 40.0 40.7

36.7 37.5 37.4 38.4

37.7 38.2 39.0 39.8

75.7 75.8 75.1 74.7

57.6 58.3 58.2 58.1

76.1 76.9 77.4 77.8

28.3 28.7 29.3 29.9

85.1 84.7 84.6 84.4

37.3 37.9 39.0 40.1

35.3 35.5 34.9 35.4

36.6 37.0 37.5 38.4

1974 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

72.2 72.5 71.9 72.5

57.2 57.4 56.6 56.2

79.3 79.2 78.7 77.5

30.3 31.3 32.2 33.0

83.0 83.4 83.6 83.0

42.0 43.1 44.9 45.5

38.4 39.2 39.9 42.4

40.6 41.7 43.0 44.3

74.5 74.4 73.6 74.3

57.7 57.8 57.0 56.6

77.5 77.7 77.4 76.1

30.6 31.4 32.3 33.2

83.9 83.8 83.9 83.5

41.1 42.3 44.0 44.6

35.9 37.7 38.3 40.5

39.2 40.6 41.9 43.1

1975 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

73.5 74.7 75.4 75.5

55.2 55.6 56.7 57.6

75.1 74.5 75.2 76.3

34.0 34.7 35.2 35.9

83.8 84.4 83.9 84.2

46.3 46.4 46.6 47.6

44.0 45.5 47.5 48.0

45.4 46.1 47.0 47.7

74.9 76.1 76.9 76.9

55.2 55.6 56.7 57.7

73.7 73.0 73.7 75.0

34.1 34.8 35.4 36.1

84.0 84.7 84.5 84.5

45.5 45.7 46.0 46.9

42.8 44.4 45.9 46.3

44.5 45.2 46.0 46.7

1976 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

76.6 77.1 77.1 77.6

59.3 59.8 60.1 60.7

77.4 77.6 78.0 78.1

36.8 37.5 38.3 39.2

85.3 86.2 86.5 87.3

48.0 48.7 49.6 50.5

48.3 48.4 48.7 49.5

48.2 48.6 49.3 50.1

78.1 78.8 78.9 79.1

59.5 60.1 60.4 60.9

76.2 76.3 76.6 77.0

36.9 37.6 38.5 39.3

85.4 86.4 86.9 87.5

47.2 47.8 48.8 49.6

47.1 47.6 47.8 48.6

47.2 47.7 48.4 49.3

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

439

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Nonfinancial corporations Year and quarter

Output per hour of all employees

Output

Employee hours

Real Compencompensation sation per hour per hour

Manufacturing

Unit costs Total

Labor costs

Nonlabor costs

Unit profits

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

1962 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

59.9 60.0 60.5 61.3

31.5 32.0 32.4 32.9

52.6 53.4 53.6 53.6

17.2 17.3 17.4 17.6

73.8 74.1 74.4 75.0

27.2 27.3 27.4 27.3

28.6 28.8 28.8 28.7

23.1 23.3 23.5 23.6

55.6 53.4 53.9 55.1

29.7 29.7 29.7 29.8

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1963 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

61.6 62.3 62.9 63.3

33.2 34.0 34.4 34.8

53.9 54.5 54.7 55.0

17.7 17.8 18.0 18.2

75.0 75.3 75.7 76.4

27.3 27.1 27.1 27.2

28.7 28.5 28.6 28.7

23.6 23.4 23.3 23.3

54.9 57.5 58.0 58.7

29.8 29.8 29.9 30.1

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1964 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

63.1 63.4 64.0 63.7

35.7 36.2 37.0 37.2

56.5 57.1 57.7 58.4

18.0 18.2 18.3 18.4

75.3 75.9 76.5 76.6

27.0 27.2 27.2 27.5

28.5 28.6 28.7 29.0

23.1 23.2 23.2 23.6

60.8 59.9 59.6 58.5

30.1 30.1 30.1 30.3

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1965 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

64.6 64.7 65.2 65.8

38.5 39.0 39.8 40.8

59.5 60.4 61.0 62.0

18.5 18.6 18.8 19.1

76.6 76.5 77.1 77.9

27.2 27.3 27.3 27.4

28.7 28.8 28.9 29.0

23.2 23.2 23.2 23.0

63.5 64.1 63.9 64.9

30.4 30.6 30.6 30.7

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1966 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

66.2 66.1 66.1 66.4

41.7 42.2 42.5 42.9

63.0 63.8 64.3 64.6

19.3 19.6 20.0 20.3

78.0 78.7 79.4 79.9

27.5 28.0 28.4 28.7

29.2 29.7 30.2 30.6

23.0 23.2 23.5 23.7

65.9 64.2 62.0 62.4

30.9 31.2 31.4 31.7

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1967 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

66.4 67.1 67.3 67.8

42.8 43.0 43.4 44.1

64.5 64.1 64.6 65.1

20.5 20.8 21.1 21.3

80.5 81.2 81.4 81.5

29.1 29.2 29.6 29.8

30.9 31.0 31.3 31.5

24.1 24.5 24.9 25.3

60.3 59.3 59.3 60.8

31.8 31.9 32.2 32.6

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1968 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

68.6 69.4 69.8 70.0

44.9 45.9 46.6 47.1

65.4 66.1 66.8 67.3

21.9 22.3 22.7 23.1

83.0 83.6 83.8 84.5

30.2 30.5 30.8 31.4

31.9 32.1 32.5 33.0

25.7 26.0 26.4 26.9

59.7 60.8 59.7 59.8

32.9 33.2 33.4 33.9

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1969 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

69.7 69.5 69.5 69.2

47.5 47.9 48.2 48.0

68.2 68.9 69.4 69.4

23.3 23.8 24.3 24.7

84.3 84.5 85.1 85.5

31.9 32.6 33.3 34.1

33.5 34.2 34.9 35.8

27.6 28.2 28.8 29.7

58.3 55.7 53.1 49.2

34.3 34.6 35.0 35.5

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1970 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

68.8 69.6 70.5 70.4

47.4 47.4 47.8 47.0

69.0 68.2 67.8 66.8

25.1 25.5 26.0 26.3

85.4 85.5 86.2 86.0

35.0 35.4 35.6 36.4

36.5 36.7 36.8 37.4

31.0 31.8 32.3 33.6

44.0 46.4 45.0 42.0

35.9 36.4 36.5 36.9

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1971 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

72.2 72.4 72.9 73.2

48.5 49.0 49.5 50.4

67.2 67.6 67.9 68.8

26.8 27.2 27.5 27.8

86.9 87.4 87.6 87.8

36.1 36.5 36.7 36.8

37.1 37.5 37.7 37.9

33.3 33.6 33.9 33.8

49.7 50.2 50.6 51.7

37.3 37.7 37.9 38.1

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1972 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

73.5 74.0 74.2 75.0

51.5 52.6 53.3 54.8

70.1 71.2 71.9 73.0

28.2 28.6 28.9 29.5

88.5 88.9 89.1 90.2

37.1 37.4 37.6 37.9

38.4 38.6 38.9 39.3

33.6 34.1 33.9 34.0

53.1 52.0 54.2 56.9

38.6 38.7 39.1 39.6

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1973 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

75.5 75.0 74.5 74.4

56.1 56.2 56.2 56.6

74.2 75.0 75.4 76.1

30.1 30.6 31.3 32.0

90.5 90.3 90.5 90.1

38.3 39.4 40.5 41.4

39.8 40.9 42.0 43.0

34.2 35.3 36.3 37.0

57.8 54.1 53.2 54.5

40.1 40.7 41.6 42.6

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1974 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

73.5 73.7 73.1 72.8

55.9 56.0 55.3 54.1

76.1 76.0 75.7 74.3

32.6 33.5 34.5 35.3

89.2 89.3 89.4 88.9

42.7 43.9 45.7 47.4

44.3 45.4 47.2 48.5

38.5 39.8 41.7 44.4

49.7 49.2 47.4 47.3

43.3 44.4 45.8 47.4

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1975 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

74.1 76.0 77.2 77.3

53.0 53.7 55.3 56.2

71.5 70.7 71.7 72.7

36.2 36.9 37.6 38.4

89.3 89.9 89.7 89.9

48.3 48.2 48.0 48.7

48.9 48.6 48.7 49.6

46.7 47.0 46.3 46.4

50.6 59.3 70.4 71.4

48.5 49.2 50.0 50.8

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1976 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

78.4 78.4 78.8 78.7

58.2 58.7 59.3 59.5

74.3 74.8 75.3 75.6

39.1 39.8 40.7 41.6

90.5 91.5 92.0 92.7

48.7 49.5 50.3 51.5

49.9 50.8 51.7 52.9

45.4 46.1 46.5 47.5

75.7 71.3 70.3 68.5

51.1 51.5 52.1 53.0

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

. . . = Not available.

440

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Business sector Year and quarter

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Nonfarm business sector Unit labor costs

Unit nonlabor payments

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

Unit nonlabor payments

Implicit price deflator

1977 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

78.0 78.2 79.2 78.3

61.6 63.1 64.4 64.3

78.9 80.7 81.3 82.1

39.9 40.5 41.4 42.1

87.2 87.1 87.7 88.0

51.1 51.8 52.2 53.8

50.5 51.2 52.0 52.4

50.9 51.6 52.1 53.2

79.6 79.9 80.8 79.7

61.9 63.4 64.7 64.4

77.8 79.3 80.1 80.9

40.0 40.8 41.6 42.3

87.4 87.6 88.1 88.4

50.2 51.0 51.5 53.1

49.5 50.5 51.5 51.2

50.0 50.8 51.5 52.4

1978 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

78.0 79.5 79.7 79.9

64.4 67.5 68.2 69.2

82.6 84.9 85.6 86.5

43.3 44.0 44.9 46.0

89.1 88.7 88.8 89.3

55.5 55.3 56.3 57.5

51.6 54.7 55.6 56.9

54.0 55.1 56.0 57.3

79.7 81.3 81.3 81.8

64.8 68.0 68.6 69.8

81.3 83.6 84.4 85.4

43.5 44.3 45.1 46.2

89.6 89.3 89.4 89.8

54.6 54.5 55.5 56.5

50.4 53.2 54.3 55.6

53.1 54.0 55.1 56.2

1979 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

79.5 79.3 79.3 79.1

69.2 69.3 69.9 69.9

87.1 87.4 88.1 88.4

47.3 48.3 49.4 50.5

89.8 89.4 89.1 88.9

59.5 60.9 62.3 63.9

56.2 58.0 59.1 59.4

58.3 59.8 61.1 62.2

81.0 80.8 80.7 80.5

69.6 69.7 70.2 70.3

86.0 86.3 87.1 87.2

47.5 48.5 49.6 50.8

90.2 89.7 89.4 89.4

58.6 60.0 61.5 63.1

54.4 56.4 57.4 57.8

57.1 58.7 60.0 61.1

1980 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

79.6 78.6 78.7 79.6

70.0 68.0 67.9 69.4

88.0 86.5 86.2 87.3

52.1 53.5 54.8 56.2

88.9 89.1 89.2 89.4

65.5 68.0 69.6 70.6

60.3 59.9 61.1 63.8

63.6 65.0 66.4 68.1

80.9 80.0 80.3 81.2

70.4 68.4 68.3 69.9

87.0 85.5 85.1 86.2

52.3 53.7 55.1 56.6

89.2 89.4 89.6 89.9

64.7 67.1 68.6 69.7

59.3 59.9 60.1 62.1

62.7 64.5 65.5 66.9

1981 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

81.1 80.3 81.4 80.2

71.1 70.4 71.3 70.1

87.7 87.6 87.6 87.3

57.7 58.7 60.0 60.9

89.2 89.3 89.4 89.2

71.1 73.1 73.7 75.9

67.9 68.0 70.5 69.9

69.9 71.2 72.5 73.7

82.4 81.3 82.0 81.0

71.4 70.5 71.1 69.9

86.6 86.7 86.6 86.3

58.1 59.1 60.4 61.3

89.8 89.8 90.0 89.7

70.5 72.7 73.6 75.7

66.5 66.5 68.9 68.9

69.0 70.4 71.9 73.2

1982 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

79.7 80.0 80.0 80.8

68.5 68.9 68.5 68.5

85.9 86.1 85.6 84.8

62.5 63.1 64.0 64.9

90.4 90.4 90.2 90.4

78.4 78.9 80.0 80.3

68.3 69.7 70.5 71.8

74.6 75.5 76.5 77.1

80.5 80.6 80.8 81.5

68.3 68.7 68.4 68.3

84.9 85.2 84.6 83.9

62.9 63.4 64.4 65.2

90.9 90.8 90.7 90.9

78.1 78.6 79.7 80.1

67.4 68.9 69.6 71.2

74.2 75.1 76.0 76.8

1983 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

81.6 83.0 83.3 84.0

69.5 71.5 73.2 75.0

85.2 86.1 87.8 89.2

65.4 66.0 66.3 67.2

90.6 90.4 90.0 90.4

80.2 79.5 79.6 80.0

73.4 75.6 77.7 78.3

77.7 78.1 78.9 79.4

82.5 84.4 85.2 85.6

69.6 72.0 74.1 75.9

84.4 85.3 87.0 88.6

65.9 66.4 66.8 67.5

91.2 91.0 90.6 90.8

79.8 78.7 78.3 78.8

72.6 75.3 77.8 78.2

77.2 77.4 78.1 78.6

1984 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

84.4 85.1 85.5 85.7

76.8 78.4 79.2 79.8

91.0 92.1 92.6 93.1

68.0 68.7 69.6 70.2

90.3 90.3 90.9 90.9

80.6 80.7 81.4 81.9

79.0 80.3 80.5 80.8

80.0 80.6 81.1 81.5

85.5 86.0 86.4 86.5

77.2 78.7 79.4 80.0

90.3 91.5 91.9 92.5

68.3 69.0 70.0 70.5

90.7 90.8 91.3 91.3

79.9 80.2 81.0 81.5

77.9 79.2 79.6 79.8

79.2 79.8 80.5 80.9

1985 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

86.0 86.4 87.9 88.2

80.7 81.5 82.9 83.6

93.8 94.3 94.4 94.7

71.1 71.7 72.8 74.2

91.3 91.3 92.1 92.9

82.6 83.0 82.9 84.1

81.6 81.8 82.6 81.8

82.3 82.6 82.8 83.2

86.6 86.8 88.0 88.4

80.8 81.5 82.8 83.6

93.3 93.9 94.2 94.6

71.4 71.9 72.9 74.2

91.6 91.6 92.3 93.0

82.4 82.9 82.9 84.0

80.7 81.2 82.5 81.4

81.8 82.3 82.8 83.0

1986 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

89.2 89.7 90.2 90.0

84.5 84.8 85.7 86.1

94.8 94.5 95.0 95.7

75.1 75.7 76.4 77.7

93.5 94.8 95.2 96.1

84.2 84.4 84.7 86.3

82.5 82.9 83.1 82.0

83.6 83.8 84.1 84.7

89.5 90.2 90.5 90.3

84.5 85.0 85.8 86.2

94.5 94.3 94.7 95.5

75.2 75.9 76.6 77.9

93.7 95.0 95.4 96.3

84.1 84.1 84.6 86.2

82.4 82.8 82.7 81.5

83.4 83.6 83.9 84.5

1987 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

89.6 90.2 90.3 91.1

86.6 87.8 88.4 90.2

96.8 97.3 97.9 98.9

77.8 78.6 79.4 80.4

95.2 95.1 95.2 95.7

86.9 87.1 87.9 88.2

82.1 82.9 83.5 84.0

85.1 85.6 86.3 86.7

89.9 90.5 90.5 91.4

86.8 87.9 88.6 90.3

96.6 97.2 97.8 98.9

78.0 78.7 79.5 80.5

95.4 95.3 95.4 95.8

86.8 87.0 87.9 88.1

81.7 82.6 83.1 83.6

84.9 85.4 86.1 86.4

1988 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

91.4 91.6 91.8 92.0

90.5 91.9 92.3 93.6

99.0 100.4 100.5 101.7

81.7 82.7 83.7 84.2

96.6 96.7 96.8 96.4

89.4 90.3 91.2 91.5

83.9 84.3 85.7 86.9

87.4 88.1 89.1 89.8

91.6 91.9 92.1 92.7

90.6 92.2 92.7 94.3

98.9 100.4 100.6 101.7

81.8 82.7 83.7 84.2

96.6 96.7 96.7 96.4

89.3 90.0 90.8 90.8

83.4 84.1 85.2 87.1

87.1 87.8 88.7 89.4

1989 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

92.2 92.5 92.8 92.9

94.6 95.2 95.9 96.0

102.7 102.9 103.3 103.3

84.5 84.8 85.4 86.5

95.8 94.8 94.7 95.1

91.6 91.7 92.1 93.1

89.3 91.6 92.5 92.3

90.8 91.7 92.2 92.8

92.3 92.5 93.0 93.1

94.8 95.5 96.1 96.3

102.7 103.2 103.4 103.4

84.4 84.7 85.4 86.5

95.8 94.6 94.7 95.1

91.5 91.5 91.8 92.8

88.4 91.1 92.3 91.7

90.3 91.3 92.0 92.4

1990 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

93.9 94.6 95.1 94.3

97.2 97.3 97.1 96.0

103.5 102.9 102.1 101.8

88.3 90.3 91.7 92.3

95.6 96.9 96.7 95.9

94.0 95.5 96.4 98.0

93.5 93.8 94.2 93.5

93.8 94.9 95.6 96.3

94.0 94.6 95.0 94.3

97.4 97.6 97.3 96.1

103.6 103.1 102.4 101.9

88.1 90.0 91.4 92.2

95.4 96.6 96.4 95.8

93.7 95.1 96.2 97.7

93.0 93.5 93.9 93.5

93.5 94.5 95.4 96.2

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

441

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Nonfinancial corporations Year and quarter

Output per hour of all employees

Output

Employee hours

Real Compencompensation sation per hour per hour

Manufacturing

Unit costs Total

Labor costs

Nonlabor costs

Unit profits

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

1977 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

78.8 80.4 82.1 81.1

60.4 62.9 64.9 64.8

76.6 78.2 79.0 79.9

42.1 43.0 44.0 44.9

92.2 92.5 93.2 93.8

52.1 52.0 52.0 53.8

53.5 53.5 53.6 55.3

48.2 47.9 47.9 49.6

70.2 77.8 82.4 78.5

53.7 54.3 54.7 56.0

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1978 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

81.0 82.3 81.6 81.9

64.8 67.7 67.9 69.0

80.1 82.3 83.2 84.3

46.0 47.0 48.0 49.2

94.7 94.8 95.0 95.5

55.4 55.5 56.6 57.8

56.8 57.2 58.8 60.1

51.4 51.0 50.7 51.7

71.0 81.6 81.0 82.3

56.8 57.9 58.8 60.0

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1979 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

81.5 81.0 80.6 80.8

69.4 69.3 69.5 69.8

85.1 85.5 86.2 86.4

50.3 51.3 52.4 53.6

95.5 95.0 94.5 94.4

59.4 61.1 62.7 64.2

61.7 63.3 65.0 66.4

53.1 55.0 56.7 58.2

77.2 75.4 72.3 71.1

61.0 62.4 63.6 64.8

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1980 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

80.9 80.0 80.6 81.6

69.8 67.8 67.9 69.8

86.3 84.8 84.3 85.5

55.1 56.5 57.8 59.4

94.0 94.0 94.1 94.4

66.1 68.9 70.4 71.5

68.1 70.6 71.8 72.8

60.7 64.4 66.4 68.2

69.4 59.6 65.0 73.4

66.4 68.1 69.9 71.7

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1981 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

82.1 82.5 83.9 82.9

70.7 71.4 72.8 71.5

86.1 86.5 86.7 86.3

60.7 61.8 63.1 64.1

93.9 93.8 93.9 93.8

72.8 74.2 74.9 77.2

73.9 74.8 75.2 77.3

69.9 72.6 74.2 77.1

78.7 78.7 87.2 79.1

73.4 74.6 76.0 77.4

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1982 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

83.1 83.2 82.9 83.0

70.5 70.3 69.7 69.0

84.8 84.6 84.0 83.1

65.5 66.0 66.8 67.5

94.7 94.5 94.1 94.1

79.0 79.7 80.9 81.9

78.8 79.4 80.6 81.3

79.5 80.7 81.8 83.5

73.5 78.0 78.0 71.2

78.5 79.6 80.6 81.0

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1983 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

84.2 85.6 86.3 86.7

70.2 72.2 74.2 75.9

83.4 84.4 85.9 87.6

67.9 68.6 69.1 70.1

94.1 94.0 93.7 94.3

81.2 80.5 80.4 80.9

80.6 80.1 80.0 80.9

82.7 81.4 81.3 81.0

79.6 90.1 96.2 98.0

81.0 81.3 81.8 82.5

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1984 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

87.1 87.7 88.0 88.2

77.8 79.5 80.2 81.2

89.3 90.6 91.2 92.0

70.6 71.4 72.5 73.1

93.7 93.9 94.6 94.6

80.8 81.3 82.2 82.6

81.0 81.5 82.4 82.8

80.3 80.7 81.9 82.2

108.5 110.0 105.9 106.0

83.3 83.8 84.3 84.7

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1985 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

88.5 88.9 90.4 90.7

81.8 82.6 84.1 84.4

92.4 93.0 93.0 93.1

73.9 74.5 75.5 76.9

94.8 94.8 95.5 96.3

83.4 83.9 83.3 84.6

83.4 83.8 83.5 84.8

83.3 84.2 83.0 84.0

103.4 100.4 107.1 98.2

85.2 85.4 85.5 85.8

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1986 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

91.2 91.1 91.3 92.1

85.0 84.6 84.9 86.1

93.2 92.9 93.0 93.5

77.7 78.3 79.2 80.3

96.8 98.2 98.7 99.3

85.3 86.1 86.7 87.0

85.2 86.0 86.8 87.2

85.8 86.2 86.6 86.5

93.3 90.7 88.3 88.4

86.1 86.5 86.9 87.1

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

... ... ... ...

1987 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

91.9 93.0 94.0 94.3

87.1 88.9 90.7 91.9

94.7 95.6 96.5 97.4

80.5 81.0 81.8 82.8

98.5 98.1 98.1 98.6

87.3 86.8 86.5 87.2

87.6 87.2 87.0 87.8

86.5 85.9 85.1 85.7

91.4 98.8 105.9 104.1

87.7 87.9 88.2 88.7

86.5 88.2 88.9 89.8

89.3 90.7 92.2 94.6

103.1 102.9 103.6 105.4

80.6 80.9 81.7 82.0

98.5 98.0 98.0 97.5

93.1 91.8 91.9 91.3

1988 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

95.5 95.7 95.6 96.2

93.2 94.5 95.0 96.8

97.7 98.8 99.4 100.6

83.7 84.6 85.5 85.9

98.8 98.9 98.8 98.4

87.2 87.8 88.9 88.9

87.6 88.4 89.5 89.3

85.8 86.2 87.2 87.9

109.5 109.9 110.9 116.0

89.2 89.8 90.8 91.3

89.5 89.9 90.0 90.7

95.1 96.1 96.5 97.7

106.2 106.8 107.1 107.7

82.9 83.5 84.4 85.6

97.9 97.6 97.6 98.0

92.6 92.9 93.8 94.4

1989 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

95.0 94.2 94.5 94.7

96.5 96.2 96.7 97.1

101.6 102.1 102.3 102.6

86.3 86.4 87.0 88.3

97.8 96.5 96.5 97.1

90.8 92.1 92.8 93.8

90.8 91.8 92.1 93.3

90.8 92.8 94.6 95.2

105.1 102.8 101.3 95.8

92.1 93.0 93.5 94.0

90.8 90.1 89.7 90.8

98.2 97.4 96.6 96.7

108.1 108.1 107.8 106.6

85.9 85.7 86.6 88.2

97.5 95.8 96.1 97.0

94.6 95.1 96.6 97.1

1990 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

94.1 95.6 95.7 96.2

97.4 98.4 97.9 97.6

103.5 103.0 102.3 101.4

88.8 90.7 92.1 92.9

96.1 97.3 97.2 96.5

94.7 95.2 96.7 97.4

94.4 94.9 96.3 96.5

95.4 95.9 98.0 99.9

98.1 103.2 94.9 91.5

95.0 95.9 96.6 96.9

91.9 92.5 93.7 93.7

97.5 98.0 98.2 96.6

106.1 106.0 104.8 103.0

88.3 90.0 91.2 92.4

95.6 96.5 96.2 96.0

96.2 97.3 97.3 98.6

. . . = Not available.

442

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Business sector Year and quarter

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Nonfarm business sector Unit labor costs

Unit nonlabor payments

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

Unit nonlabor payments

Implicit price deflator

1991 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

94.4 95.7 96.4 97.1

95.2 95.9 96.5 97.0

100.8 100.2 100.1 99.9

93.0 94.7 95.7 96.8

96.2 97.5 97.9 98.3

98.5 98.9 99.3 99.7

95.3 96.2 97.3 97.7

97.3 97.9 98.6 99.0

94.5 95.9 96.6 97.2

95.3 96.1 96.6 97.1

100.8 100.2 100.1 99.9

92.9 94.7 95.7 96.7

96.1 97.4 97.9 98.3

98.3 98.7 99.1 99.5

95.5 96.2 97.7 97.8

97.3 97.8 98.6 98.9

1992 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

98.9 99.5 100.4 101.2

98.3 99.4 100.5 101.9

99.4 99.9 100.0 100.7

98.7 99.3 100.8 101.2

99.6 99.6 100.5 100.1

99.8 99.8 100.4 100.0

98.6 99.6 99.9 101.9

99.4 99.7 100.2 100.7

98.8 99.5 100.4 101.3

98.3 99.3 100.5 102.0

99.4 99.8 100.0 100.7

98.6 99.4 100.8 101.2

99.5 99.7 100.5 100.1

99.8 99.9 100.4 100.0

98.6 99.5 99.8 102.1

99.4 99.7 100.2 100.7

1993 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

100.4 100.0 100.1 101.1

101.8 102.5 103.1 105.0

101.4 102.5 103.0 103.8

101.6 102.0 102.5 102.8

100.0 99.7 99.7 99.4

101.2 102.1 102.3 101.7

101.8 101.7 102.3 104.6

101.4 101.9 102.3 102.8

100.5 99.9 100.3 101.0

102.0 102.7 103.5 105.2

101.6 102.8 103.3 104.1

101.4 101.8 102.2 102.5

99.8 99.5 99.4 99.1

100.9 101.9 101.9 101.5

102.4 102.0 103.1 104.9

101.5 101.9 102.3 102.7

1994 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

101.7 101.5 100.9 101.7

106.3 107.9 108.5 110.1

104.5 106.4 107.5 108.3

103.9 103.5 103.5 104.0

100.2 99.3 98.5 98.5

102.2 102.0 102.6 102.2

105.0 106.2 107.1 108.7

103.2 103.6 104.2 104.6

101.8 101.7 101.0 102.0

106.3 108.0 108.5 110.3

104.5 106.2 107.4 108.1

103.8 103.6 103.5 104.1

100.1 99.3 98.5 98.6

102.0 101.9 102.5 102.0

105.2 106.6 107.8 109.6

103.2 103.6 104.4 104.8

1995 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

101.3 101.3 101.5 102.5

110.4 110.5 111.7 112.8

109.0 109.1 110.1 110.1

104.9 105.4 106.1 107.1

98.8 98.5 98.7 99.2

103.6 104.1 104.5 104.6

107.8 108.0 108.4 109.3

105.2 105.5 106.0 106.3

101.7 101.9 102.0 102.9

110.7 110.9 112.2 113.3

108.8 108.8 110.0 110.1

104.9 105.6 106.2 107.1

98.8 98.7 98.8 99.2

103.2 103.6 104.1 104.2

109.0 109.3 109.4 109.8

105.3 105.7 106.0 106.2

1996 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

103.6 104.8 105.0 105.3

113.9 116.0 117.2 118.8

110.0 110.8 111.6 112.9

108.2 109.3 110.2 110.6

99.4 99.5 99.9 99.5

104.5 104.3 104.9 105.1

110.7 112.3 111.9 112.9

106.8 107.3 107.5 108.0

103.9 104.9 105.2 105.4

114.2 116.3 117.5 119.2

109.9 110.8 111.7 113.1

108.3 109.3 110.1 110.5

99.4 99.5 99.7 99.3

104.2 104.1 104.6 104.9

110.9 112.0 112.4 113.3

106.7 107.0 107.5 108.0

1997 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

105.0 106.4 107.4 107.9

119.9 122.1 123.9 124.9

114.2 114.7 115.3 115.8

111.3 112.2 113.4 115.6

99.5 100.1 100.7 102.1

106.0 105.5 105.6 107.1

113.2 114.4 114.9 113.2

108.7 108.8 109.1 109.4

105.1 106.3 107.2 107.7

120.1 122.2 124.0 125.1

114.3 114.9 115.6 116.2

111.2 112.1 113.2 115.1

99.5 100.0 100.5 101.7

105.9 105.4 105.6 106.9

113.4 115.2 115.8 114.2

108.6 109.0 109.3 109.6

1998 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

108.7 108.9 110.2 110.8

126.5 127.4 129.0 131.5

116.4 117.0 117.1 118.6

117.7 119.3 121.2 121.9

103.8 104.9 106.1 106.3

108.3 109.5 110.0 110.0

111.6 109.5 109.4 109.9

109.5 109.5 109.7 109.9

108.5 108.8 110.1 110.6

126.8 127.7 129.4 131.8

116.8 117.3 117.5 119.2

117.3 118.9 120.9 121.4

103.5 104.6 105.8 105.9

108.1 109.3 109.8 109.8

112.5 110.6 110.5 110.8

109.7 109.8 110.1 110.2

1999 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

112.0 112.1 112.9 114.7

132.7 133.9 135.7 138.5

118.5 119.4 120.2 120.7

124.4 124.7 125.8 128.2

108.1 107.6 107.7 108.9

111.1 111.3 111.5 111.7

108.9 109.2 109.8 110.1

110.3 110.5 110.8 111.1

111.6 111.7 112.5 114.5

133.0 134.3 136.1 138.9

119.2 120.2 121.0 121.3

123.7 124.1 125.1 127.7

107.5 107.0 107.1 108.5

110.9 111.0 111.2 111.6

110.0 110.8 111.5 112.0

110.5 111.0 111.3 111.7

2000 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

114.2 116.4 116.1 117.3

138.6 141.1 140.8 141.5

121.4 121.2 121.3 120.6

132.5 133.1 135.6 136.5

111.5 111.1 112.2 112.2

116.0 114.4 116.8 116.4

105.4 109.6 106.4 108.2

112.1 112.6 112.9 113.3

113.9 115.9 115.6 116.7

138.8 141.4 141.1 141.8

121.9 122.0 122.0 121.5

132.1 132.5 135.0 135.8

111.2 110.6 111.7 111.6

116.0 114.3 116.8 116.3

106.8 111.1 108.0 109.8

112.6 113.1 113.5 113.9

2001 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

117.2 118.8 119.2 121.1

141.1 141.4 140.3 141.0

120.4 119.1 117.7 116.4

138.8 139.9 140.5 141.5

113.0 113.0 113.3 114.2

118.5 117.8 117.9 116.9

106.7 110.1 110.6 113.4

114.1 114.9 115.2 115.6

116.6 118.2 118.7 120.5

141.4 141.9 140.8 141.2

121.3 120.0 118.7 117.2

138.0 138.9 139.5 140.6

112.3 112.2 112.5 113.5

118.4 117.5 117.6 116.7

108.2 111.9 112.2 115.0

114.6 115.4 115.6 116.0

2002 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

122.7 123.2 124.6 124.7

141.9 142.6 143.8 144.0

115.7 115.7 115.4 115.5

143.5 145.0 145.7 145.8

115.4 115.7 115.7 115.1

116.9 117.7 116.9 116.9

113.3 112.9 115.0 116.3

115.6 115.9 116.2 116.7

122.5 122.7 123.9 124.0

142.5 143.0 144.1 144.1

116.3 116.5 116.3 116.2

142.7 144.2 144.8 145.0

114.8 115.0 114.9 114.5

116.5 117.5 116.9 116.9

115.2 115.0 116.9 118.0

116.0 116.6 116.9 117.3

2003 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

125.6 127.9 130.5 130.6

144.6 146.4 149.8 150.8

115.2 114.5 114.8 115.5

147.8 150.3 152.0 152.8

115.5 117.3 118.0 118.4

117.7 117.5 116.4 117.0

116.4 117.2 120.3 120.5

117.2 117.4 117.9 118.3

124.9 126.9 129.9 130.1

144.8 146.5 150.2 151.2

115.9 115.4 115.6 116.2

147.0 149.3 151.2 152.2

114.9 116.5 117.4 117.9

117.7 117.6 116.4 116.9

118.2 118.7 121.6 121.3

117.9 118.0 118.3 118.6

2004 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

131.7 132.8 133.3 134.3

152.6 154.1 155.8 157.2

115.9 116.1 116.9 117.1

154.4 155.7 158.2 162.5

118.5 118.2 119.6 121.8

117.3 117.2 118.7 121.0

123.0 126.1 124.2 122.3

119.4 120.5 120.7 121.5

130.8 132.2 132.7 133.5

152.8 154.5 156.3 157.7

116.8 116.8 117.8 118.2

153.5 154.9 157.2 161.0

117.8 117.6 118.8 120.7

117.3 117.1 118.5 120.7

123.5 126.5 125.3 123.7

119.6 120.6 121.0 121.8

CHAPTER 19: SELECTED HISTORICAL DATA FOR QUARTERLY SERIES

443

Table 19-11. Productivity and Related Data—Continued (1992 = 100, seasonally adjusted.) Nonfinancial corporations Year and quarter

Output per hour of all employees

Output

Employee hours

Real Compencompensation sation per hour per hour

Manufacturing

Unit costs Total

Labor costs

Nonlabor costs

Unit profits

Implicit price deflator

Output per hour of all persons

Output

Real Hours of Compencompenall sation sation persons per hour per hour

Unit labor costs

1991 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

96.6 97.4 97.7 98.0

96.8 96.8 97.1 97.5

100.2 99.3 99.4 99.4

93.5 95.2 96.2 97.1

96.7 97.9 98.3 98.7

98.3 99.1 99.7 100.0

96.8 97.7 98.5 99.1

102.4 102.9 103.0 102.5

94.3 93.7 92.8 91.9

98.0 98.6 99.1 99.3

93.4 94.9 96.5 97.0

94.4 95.1 96.9 97.4

101.0 100.2 100.4 100.4

93.7 95.3 96.3 97.0

96.9 98.0 98.5 98.5

100.3 100.4 99.8 100.0

1992 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

99.4 99.7 100.0 100.8

98.9 99.8 99.8 101.5

99.4 100.1 99.8 100.7

98.6 99.4 100.9 101.2

99.6 99.7 100.6 100.1

99.6 99.7 100.6 100.0

99.2 99.7 100.8 100.3

100.9 99.9 100.1 99.2

96.7 100.6 95.3 107.3

99.4 99.8 100.2 100.7

97.8 99.4 101.4 101.4

97.7 99.7 100.8 101.7

99.9 100.4 99.4 100.4

98.4 99.5 101.2 101.0

99.3 99.8 100.9 99.9

100.6 100.1 99.7 99.6

1993 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

99.5 100.3 100.3 101.1

100.8 102.4 103.1 104.8

101.2 102.1 102.7 103.6

101.1 101.6 102.0 102.3

99.6 99.3 99.2 98.9

101.3 100.8 101.2 100.7

101.6 101.3 101.6 101.2

100.6 99.4 100.1 99.6

104.1 113.4 112.9 125.7

101.6 101.9 102.3 103.0

102.3 102.2 102.4 103.8

103.1 103.6 104.0 105.8

100.8 101.4 101.6 101.9

100.9 101.5 102.3 103.3

99.4 99.2 99.6 99.9

98.7 99.3 99.9 99.5

1994 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

101.9 102.1 102.0 102.8

106.3 108.5 109.8 112.0

104.4 106.2 107.6 109.0

103.6 103.4 103.3 103.9

99.9 99.1 98.3 98.4

101.8 100.9 101.1 100.9

101.7 101.2 101.2 101.0

102.0 99.9 100.8 100.5

120.2 131.5 134.7 140.0

103.4 103.6 104.1 104.4

104.6 106.0 106.3 107.3

106.9 109.3 110.8 113.2

102.2 103.1 104.2 105.4

104.8 104.9 105.4 106.1

101.0 100.6 100.3 100.5

100.2 99.0 99.1 98.9

1995 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

102.4 102.8 103.7 104.4

112.5 113.4 115.2 116.2

109.8 110.3 111.1 111.3

104.7 105.0 105.4 106.1

98.6 98.1 98.1 98.3

101.9 102.0 101.5 101.5

102.2 102.2 101.7 101.7

101.3 101.6 100.9 101.1

132.7 132.4 141.0 141.2

104.7 104.7 105.0 105.1

108.5 109.4 110.3 111.5

114.5 114.3 115.0 116.0

105.6 104.5 104.2 104.1

105.5 107.0 108.1 108.7

99.3 100.0 100.5 100.6

97.2 97.8 97.9 97.5

1996 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

105.7 106.7 107.7 108.3

117.5 119.6 121.7 123.6

111.1 112.1 113.0 114.1

107.1 108.2 109.0 109.5

98.4 98.6 98.7 98.5

101.1 101.1 100.8 100.7

101.4 101.4 101.2 101.1

100.5 100.0 99.7 99.7

148.3 149.9 149.4 152.2

105.3 105.4 105.1 105.3

112.9 113.3 114.4 115.0

115.9 118.1 119.7 120.8

102.7 104.2 104.7 105.1

108.7 109.0 109.6 110.1

99.9 99.3 99.3 99.0

96.3 96.2 95.8 95.7

1997 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

108.5 109.3 110.6 111.3

125.3 127.2 129.7 131.5

115.5 116.5 117.3 118.2

110.4 111.0 111.9 113.6

98.7 99.0 99.4 100.4

101.4 101.1 100.8 101.3

101.8 101.6 101.2 102.1

100.2 99.9 99.7 99.2

152.7 152.9 158.5 153.1

106.0 105.8 106.0 105.9

115.8 116.9 118.9 120.2

122.7 123.7 125.8 128.2

105.9 105.8 105.8 106.7

110.2 111.5 112.7 114.5

98.5 99.5 100.1 101.1

95.1 95.4 94.8 95.2

1998 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

111.9 113.0 114.6 114.5

132.9 134.7 137.0 138.6

118.8 119.3 119.6 121.1

116.1 117.5 119.2 119.7

102.4 103.4 104.4 104.4

102.5 102.7 102.7 103.5

103.8 104.0 104.0 104.6

99.1 99.1 99.1 100.5

139.7 136.6 139.8 132.2

105.9 105.8 106.0 106.1

121.8 122.9 124.9 125.1

129.7 130.3 130.7 132.1

106.5 106.1 104.7 105.6

116.6 118.3 120.0 120.2

102.8 104.0 105.0 104.9

95.7 96.3 96.1 96.1

1999 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

116.6 117.1 117.1 118.4

141.6 143.2 144.4 146.9

121.5 122.3 123.3 124.0

122.7 122.8 123.5 125.2

106.5 105.9 105.7 106.4

103.6 103.5 104.3 104.6

105.2 104.9 105.5 105.7

99.2 99.7 101.0 101.5

133.3 133.6 126.2 123.4

106.3 106.2 106.2 106.3

126.6 127.3 127.5 130.8

133.0 133.9 134.6 136.8

105.0 105.1 105.6 104.6

121.3 122.1 123.5 126.8

105.4 105.3 105.7 107.7

95.8 95.9 96.9 97.0

2000 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

120.5 121.1 121.9 122.2

150.3 151.1 152.4 152.3

124.7 124.8 125.0 124.7

129.7 130.5 132.9 134.4

109.2 108.9 110.0 110.4

106.1 106.6 107.9 109.1

107.7 107.7 109.0 110.0

101.9 103.5 104.8 106.5

114.6 115.9 107.4 97.0

106.9 107.4 107.8 108.0

132.6 134.4 134.0 134.9

138.1 140.0 139.0 137.5

104.1 104.1 103.8 102.0

133.2 132.5 135.9 136.7

112.1 110.7 112.4 112.3

100.5 98.6 101.4 101.4

2001 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

122.6 123.5 123.7 124.4

151.9 151.1 149.4 148.2

123.9 122.4 120.8 119.1

135.5 136.8 137.9 139.3

110.3 110.5 111.1 112.4

110.2 111.0 112.2 113.0

110.5 110.8 111.5 111.9

109.2 111.6 114.1 115.7

87.4 86.9 79.0 75.5

108.1 108.9 109.2 109.6

134.6 135.8 137.0 140.6

134.9 133.1 131.3 130.0

100.2 98.0 95.8 92.5

138.1 137.3 137.0 139.0

112.4 110.9 110.4 112.2

102.7 101.1 100.0 98.8

2002 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

126.0 127.9 129.1 130.1

149.3 151.4 152.2 153.0

118.5 118.4 117.9 117.6

140.1 141.8 142.7 143.2

112.7 113.1 113.3 113.1

111.7 110.9 110.4 110.0

111.2 110.9 110.6 110.1

113.0 110.7 110.0 109.6

85.8 94.5 100.3 111.2

109.4 109.4 109.5 110.1

144.4 146.5 148.7 149.5

131.1 132.4 133.2 132.1

90.8 90.4 89.6 88.4

144.7 147.6 149.0 150.2

116.3 117.7 118.3 118.6

100.2 100.8 100.2 100.5

2003 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

130.4 132.7 135.1 135.9

152.3 154.3 156.9 158.7

116.8 116.3 116.2 116.8

144.6 147.0 148.9 149.8

113.0 114.8 115.6 116.0

111.0 110.7 110.4 110.4

110.9 110.8 110.2 110.2

111.4 110.5 110.9 110.8

107.8 113.7 119.9 124.8

110.7 111.0 111.3 111.7

151.6 152.9 156.9 158.1

131.8 130.7 132.1 134.2

86.9 85.5 84.2 84.9

156.5 159.2 161.5 163.2

122.3 124.3 125.4 126.5

103.2 104.1 102.9 103.2

2004 1st quarter ......... 2nd quarter ........ 3rd quarter ......... 4th quarter .........

136.1 136.9 139.4 142.3

160.0 161.3 165.0 169.0

117.5 117.8 118.4 118.8

150.3 151.7 154.0 158.0

115.4 115.2 116.5 118.4

110.7 111.0 110.5 110.5

110.4 110.8 110.5 111.0

111.4 111.5 110.3 108.8

130.2 138.6 139.7 143.1

112.4 113.4 113.1 113.4

159.3 162.2 164.0 166.5

136.0 138.0 139.4 141.0

85.4 85.1 85.0 84.7

159.1 161.1 164.9 169.3

122.1 122.3 124.7 126.9

99.9 99.3 100.6 101.7

444

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NOTES AND DEFINITIONS TABLES 19-1 THROUGH 19-9 SELECTED NATIONAL INCOME AND PRODUCT ACCOUNT DATA See the notes and definitions for Tables 1-1 through 1-13. For personal income and its disposition (Table 19-6), see the notes and definitions for Table 4-1. For inventories to sales ratios (Table 19-7), see the notes and definitions for Table 5-7. For federal and state and local government current receipts and expenditures (Tables 19-8 and 19-9), see the notes and definitions for Tables 6-1 and 6-8. Some of the detailed data shown in these tables is not available for earlier years, as follows: • In Table 19-8, from 1947 through 1958, only total taxes on production and imports is available. Separate data on excise taxes and on customs duties (the other component of the total, not shown here) are not available. • In Table 19-8, prior to 1960, interest receipts are not shown separately, but have been subtracted from total interest payments.

• In Table 19-8, prior to 1959, the current surplus of government enterprises is not shown separately as a current receipt, and the expenditure category subsidies is presented net of the current surplus of government enterprises. In the case of the federal government, subsidies are substantial and government enterprise activity relatively minor. • In Table 19-9, prior to 1959, the current surplus of government enterprises category of current receipts is presented net of expenditures for subsidies, which are not shown separately. This is just the reverse of the treatment in Table 19-8, reflecting the reality that subsidies by state and local governments have usually been minor compared with their enterprise activities. TABLE 19-10 U.S. INTERNATIONAL TRANSACTIONS See the notes and definitions for Table 7-6. TABLE 19-11 PRODUCTIVITY AND RELATED DATA See the notes and definitions for Table 9-4.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-1. Industrial Production and Capacity Utilization (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1947 ......................... 1948 ......................... 1949 .........................

15.5 16.1 15.2

14.3 14.8 14.0

19.1 19.7 19.6

12.4 12.9 12.3

22.6 23.2 23.4

8.6 8.9 7.8

9.5 11.1 11.6

23.4 25.0 22.9

12.5 13.0 12.9

15.2 15.8 14.4

... ... ...

... 82.5 74.2

1950 1951 1952 1953 1954

......................... ......................... ......................... ......................... .........................

17.6 19.1 19.9 21.5 20.4

16.3 17.6 18.3 20.0 18.7

22.3 22.1 22.6 24.0 23.8

16.4 14.2 13.8 16.1 15.0

25.4 26.3 27.3 28.1 28.4

8.3 10.2 11.5 12.0 10.5

13.6 33.5 47.1 56.4 49.7

27.6 28.8 28.5 30.6 30.2

14.4 15.2 15.2 16.2 16.4

17.3 19.1 19.4 21.5 19.9

... ... ... ... ...

82.8 85.8 85.4 89.3 80.1

1955 1956 1957 1958 1959

......................... ......................... ......................... ......................... .........................

23.0 24.0 24.3 22.8 25.5

21.1 21.9 22.2 20.6 23.2

26.6 27.5 28.2 28.0 30.7

18.4 17.9 17.8 15.9 18.7

30.6 32.6 33.6 34.6 37.0

11.4 13.2 13.7 11.6 13.0

45.5 44.5 46.4 46.6 49.1

34.7 35.7 35.2 34.0 38.1

18.3 19.4 19.7 19.5 21.2

23.5 24.1 24.1 21.7 25.0

... ... ... ... ...

87.0 86.1 83.6 75.0 81.6

1960 1961 1962 1963 1964

......................... ......................... ......................... ......................... .........................

26.0 26.2 28.4 30.1 32.1

23.7 23.8 25.9 27.4 29.3

31.8 32.5 34.7 36.6 38.7

19.8 19.5 22.0 23.9 25.7

38.2 39.4 41.3 43.2 45.3

13.4 13.0 14.1 14.8 16.6

50.5 51.3 59.4 64.1 62.0

37.2 37.5 39.8 41.7 44.2

22.0 22.6 24.0 25.6 27.4

25.4 25.4 27.7 29.5 31.8

... ... ... ... ...

80.1 77.3 81.4 83.5 85.6

1965 ......................... 1966 ......................... 1967 .........................

35.3 38.4 39.2

32.5 35.4 36.1

41.7 43.8 44.9

30.1 31.9 30.7

47.2 49.5 52.0

19.0 22.0 22.4

68.6 80.7 92.0

46.9 48.9 50.2

29.2 31.5 33.1

35.5 38.7 38.3

... ... 87.0

89.5 91.1 87.2

1947 January ................ February ............... March ................... April ...................... May ...................... June .....................

15.3 15.4 15.5 15.3 15.4 15.4

14.1 14.2 14.2 14.3 14.2 14.2

18.9 18.9 18.9 18.9 18.7 18.7

11.7 12.1 12.3 12.4 12.3 12.4

22.8 22.5 22.4 22.3 22.1 22.1

8.2 8.3 8.4 8.5 8.5 8.6

9.7 9.6 9.4 9.5 9.4 9.3

22.2 22.9 23.1 23.3 23.6 23.7

12.4 12.5 12.5 12.6 12.6 12.4

14.9 15.0 15.5 15.2 15.2 15.1

... ... ... ... ... ...

... ... ... ... ... ...

July ....................... August .................. September ........... October ................ November ............ December ............

15.3 15.4 15.5 15.7 15.9 15.9

14.1 14.2 14.2 14.4 14.6 14.7

18.8 19.0 19.1 19.4 19.7 19.8

12.2 12.0 12.4 12.6 13.0 13.2

22.3 22.6 22.7 23.0 23.3 23.2

8.4 8.6 8.7 8.8 8.8 8.8

9.2 9.2 9.2 9.5 9.6 9.8

23.1 23.4 23.6 23.6 24.1 24.1

12.5 12.4 12.4 12.5 12.7 12.9

14.9 14.9 15.1 15.2 15.6 15.4

... ... ... ... ... ...

... ... ... ... ... ...

1948 January ................ February ............... March ................... April ...................... May ...................... June .....................

16.0 16.1 15.9 15.9 16.2 16.4

14.7 14.7 14.7 14.7 14.9 15.0

19.7 19.7 19.5 19.7 19.6 19.9

13.0 12.8 12.9 12.8 12.6 13.1

23.1 23.4 23.0 23.3 23.3 23.5

8.9 8.9 8.9 8.9 8.8 9.0

9.9 10.3 10.5 10.8 10.5 10.9

25.2 24.9 25.0 24.8 25.1 24.8

12.9 13.1 13.0 12.9 13.0 13.1

15.5 15.5 15.4 15.3 16.1 16.1

... ... ... ... ... ...

84.4 84.0 83.4 82.8 83.3 83.6

July ....................... August .................. September ........... October ................ November ............ December ............

16.4 16.3 16.2 16.3 16.1 16.0

15.0 15.0 14.8 14.9 14.7 14.6

19.9 19.7 19.6 19.8 19.6 19.4

13.4 13.2 12.8 13.3 12.8 12.3

23.2 23.1 23.1 23.2 23.3 23.1

9.0 9.0 8.9 8.8 8.8 8.7

11.1 11.3 11.7 11.9 12.1 12.1

25.4 25.4 25.0 25.6 24.8 24.6

13.0 13.2 13.1 13.1 13.1 13.2

16.2 16.0 16.0 16.1 15.9 15.8

... ... ... ... ... ...

83.4 82.7 81.5 81.7 80.2 79.3

1949 January ................ February ............... March ................... April ...................... May ...................... June .....................

15.8 15.7 15.4 15.3 15.1 15.0

14.4 14.3 14.2 13.9 13.8 13.8

19.1 19.1 19.2 19.2 19.2 19.4

11.9 11.7 11.7 11.7 11.7 11.9

23.0 23.1 23.3 23.2 23.3 23.3

8.5 8.5 8.3 8.1 8.0 7.8

11.9 11.9 11.9 11.7 11.9 11.9

23.9 23.4 23.1 22.8 22.5 22.5

12.9 12.7 12.7 12.7 12.8 12.8

15.5 15.5 14.8 14.6 14.2 14.0

... ... ... ... ... ...

77.9 76.9 75.9 74.2 73.2 73.1

July ....................... August .................. September ........... October ................ November ............ December ............

15.0 15.2 15.3 14.7 15.1 15.4

13.8 14.0 14.2 13.7 13.8 14.2

19.6 19.8 20.1 20.1 19.8 19.6

12.3 12.5 13.0 13.2 12.4 12.3

23.4 23.7 23.7 23.8 23.7 23.6

7.7 7.6 7.6 7.2 7.0 7.0

11.9 11.7 11.5 11.1 11.1 11.0

22.2 22.4 23.1 22.4 23.1 24.1

12.8 12.8 13.1 13.2 13.2 13.2

14.0 14.2 14.4 13.0 14.2 14.8

... ... ... ... ... ...

73.1 73.6 74.8 71.7 72.0 73.6

1950 January ................ February ............... March ................... April ...................... May ...................... June .....................

15.7 15.7 16.2 16.8 17.2 17.7

14.5 14.6 14.9 15.5 15.9 16.3

20.4 20.5 20.9 21.5 22.0 22.6

13.7 13.7 14.3 15.3 16.1 17.4

24.0 24.0 24.3 24.7 24.9 25.1

7.2 7.4 7.5 7.7 8.0 8.3

10.9 10.9 11.0 11.3 11.7 12.0

23.8 24.8 25.4 26.7 26.9 27.9

13.4 13.7 13.7 14.0 14.1 14.2

15.0 14.7 15.7 16.3 16.8 17.5

... ... ... ... ... ...

74.9 75.4 76.4 79.2 81.0 83.1

July ....................... August .................. September ........... October ................ November ............ December ............

18.2 18.8 18.7 18.8 18.8 19.1

16.9 17.5 17.3 17.4 17.4 17.7

23.2 24.0 23.4 23.2 23.1 23.5

18.2 18.7 17.9 17.5 17.1 17.0

25.6 26.6 26.2 26.0 26.1 26.9

8.6 9.1 8.9 9.0 9.1 9.3

12.7 14.0 15.4 16.6 17.7 19.2

28.6 29.1 29.2 29.5 29.5 29.6

14.6 14.9 14.8 15.0 15.1 15.3

17.9 18.5 18.7 18.9 18.7 19.0

... ... ... ... ... ...

85.5 88.4 87.2 87.5 87.0 88.1

1951 January ................ February ............... March ................... April ...................... May ...................... June .....................

19.2 19.3 19.4 19.4 19.4 19.3

17.8 17.8 17.9 18.0 17.8 17.8

23.6 23.6 23.2 22.8 22.4 22.1

16.7 16.7 16.6 15.8 15.0 14.3

27.2 27.2 26.6 26.5 26.2 26.2

9.4 9.5 9.6 9.9 10.0 10.1

21.3 24.7 28.0 30.7 31.7 33.4

29.8 29.5 29.6 29.5 29.3 29.1

15.5 15.3 15.5 15.9 15.7 15.4

18.8 18.9 19.3 19.4 19.6 19.7

... ... ... ... ... ...

88.3 88.3 88.4 88.2 87.4 86.6

July ....................... August .................. September ........... October ................ November ............ December ............

19.0 18.8 18.9 18.9 19.0 19.2

17.5 17.3 17.3 17.3 17.4 17.6

21.4 20.9 21.1 21.0 21.3 21.5

12.8 12.0 12.5 12.4 12.6 12.8

26.0 25.7 25.7 25.7 26.0 26.2

10.2 10.3 10.5 10.7 10.9 11.0

35.3 36.5 37.6 39.2 41.4 42.3

28.4 28.3 28.2 28.0 27.7 27.8

15.3 15.1 15.0 14.7 14.7 14.8

19.3 19.0 19.1 18.8 18.9 18.9

... ... ... ... ... ...

84.9 83.6 83.7 83.1 83.6 83.9

. . . = Not available.

445

446

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1952 January ................ February ............... March ................... April ...................... May ...................... June .....................

19.4 19.5 19.5 19.4 19.2 19.0

17.7 17.8 17.9 17.8 17.7 17.5

21.7 21.8 21.9 21.9 21.9 22.5

12.7 12.7 12.9 12.8 13.2 13.4

26.5 26.8 26.8 26.9 26.6 27.5

11.3 11.5 11.6 11.5 11.6 11.6

43.1 43.5 43.6 44.1 45.5 47.0

28.2 28.4 28.2 27.8 27.4 27.2

14.8 14.8 14.9 14.8 14.7 15.0

19.4 19.2 19.2 18.8 18.6 17.5

... ... ... ... ... ...

84.4 84.6 84.7 83.6 83.1 81.9

July ....................... August .................. September ........... October ................ November ............ December ............

18.7 19.9 20.6 20.8 21.3 21.4

17.2 18.4 19.0 19.3 19.7 19.8

22.1 22.6 23.1 23.5 24.0 24.0

12.1 13.3 14.6 15.1 16.1 16.1

27.6 27.7 27.7 27.9 28.2 28.1

11.1 11.3 11.5 11.7 11.8 11.9

47.2 48.0 48.8 50.4 51.4 53.0

27.1 29.0 29.3 29.7 30.2 30.3

15.1 15.2 15.5 15.7 15.8 15.8

17.1 19.3 20.6 20.5 21.1 21.1

... ... ... ... ... ...

79.8 85.1 87.7 88.8 90.2 90.5

1953 January ................ February ............... March ................... April ...................... May ...................... June .....................

21.4 21.6 21.7 21.8 21.9 21.9

19.9 20.1 20.2 20.3 20.4 20.3

24.2 24.4 24.4 24.3 24.5 24.1

16.7 16.9 17.1 16.9 17.0 16.4

28.1 28.3 28.1 28.3 28.4 28.3

12.0 12.1 12.1 12.2 12.1 12.0

53.7 54.9 55.9 56.7 57.7 58.0

30.8 31.3 31.4 31.5 30.8 30.6

15.5 15.9 16.2 16.3 16.4 16.4

21.0 21.5 21.8 22.0 22.4 22.4

... ... ... ... ... ...

90.5 91.1 91.4 91.5 91.7 90.7

July ....................... August .................. September ........... October ................ November ............ December ............

22.1 22.0 21.6 21.4 20.9 20.4

20.4 20.4 19.9 19.7 19.2 18.7

24.1 24.0 23.7 23.7 23.3 22.9

16.3 16.1 15.5 15.3 14.8 14.3

28.2 28.1 27.9 28.1 27.8 27.5

12.2 12.1 12.0 12.0 11.6 11.4

58.5 58.1 58.0 57.5 53.7 54.2

31.0 30.9 30.3 30.4 29.9 29.2

16.4 16.4 16.3 16.2 16.1 15.9

22.7 22.1 21.6 20.9 20.3 19.9

... ... ... ... ... ...

91.0 90.6 88.3 87.2 84.7 82.3

1954 January ................ February ............... March ................... April ...................... May ...................... June .....................

20.2 20.3 20.1 20.0 20.1 20.2

18.6 18.5 18.4 18.3 18.4 18.5

23.0 23.3 23.3 23.3 23.5 23.6

14.0 14.4 14.4 14.5 14.8 14.9

27.9 28.1 28.1 27.9 28.0 28.1

11.1 10.9 10.8 10.6 10.6 10.4

53.1 52.7 52.0 51.1 50.4 49.6

29.7 29.8 29.6 29.6 30.0 29.3

15.9 16.0 16.0 16.1 16.1 16.2

19.6 19.6 19.4 19.4 19.6 19.9

... ... ... ... ... ...

81.3 80.8 80.2 79.4 79.8 79.9

July ....................... August .................. September ........... October ................ November ............ December ............

20.2 20.2 20.2 20.5 20.8 21.1

18.5 18.4 18.5 18.7 19.1 19.3

23.7 23.7 23.9 24.0 24.5 25.0

14.8 14.9 15.0 15.2 15.6 16.2

28.4 28.4 28.7 28.8 29.2 29.5

10.4 10.3 10.2 10.2 10.4 10.4

49.4 48.4 47.9 47.4 47.2 46.4

29.2 29.1 30.5 31.5 31.8 32.1

16.0 16.1 16.6 16.8 17.0 17.2

20.0 19.8 19.7 20.1 20.5 20.8

... ... ... ... ... ...

79.4 78.8 79.2 79.7 80.9 81.8

1955 January ................ February ............... March ................... April ...................... May ...................... June .....................

21.6 21.8 22.3 22.6 23.0 23.0

19.8 20.0 20.5 20.8 21.1 21.2

25.5 25.6 26.1 26.3 26.7 26.4

17.4 17.6 18.0 18.3 18.8 18.4

29.6 29.6 30.1 30.3 30.5 30.4

10.5 10.7 10.8 11.1 11.3 11.4

46.1 46.1 45.9 45.8 45.8 45.4

32.6 33.0 34.1 34.4 34.5 35.1

17.4 17.6 18.1 18.0 18.3 18.4

21.6 22.1 22.7 23.1 23.6 23.6

... ... ... ... ... ...

83.5 84.1 85.8 86.7 87.9 87.6

July ....................... August .................. September ........... October ................ November ............ December ............

23.2 23.1 23.3 23.7 23.8 23.8

21.2 21.2 21.4 21.7 21.7 22.0

26.5 26.6 26.7 27.2 27.3 27.5

18.7 18.7 18.7 18.9 18.7 18.6

30.4 30.4 30.7 31.5 31.7 32.0

11.5 11.5 11.6 12.1 12.2 12.4

45.3 45.0 45.1 44.9 44.8 45.0

35.1 35.1 35.4 35.4 35.8 36.0

18.4 18.2 18.7 18.8 19.1 19.0

23.9 23.9 24.2 24.4 24.3 24.5

... ... ... ... ... ...

87.7 87.3 87.5 88.4 88.3 89.0

1956 January ................ February ............... March ................... April ...................... May ...................... June .....................

24.0 23.8 23.8 24.0 23.8 23.5

21.9 21.8 21.7 22.0 21.8 21.6

27.5 27.4 27.4 27.5 27.3 27.3

18.4 18.1 18.1 18.4 17.9 17.5

32.2 32.2 32.2 32.2 32.3 32.4

12.5 12.7 12.8 13.2 13.1 13.2

44.5 44.0 43.1 43.4 43.5 43.5

36.6 36.4 36.4 36.2 35.7 35.3

19.1 19.2 19.3 19.5 19.4 19.3

24.6 24.1 24.1 24.2 23.8 23.5

... ... ... ... ... ...

88.2 87.4 87.0 87.8 86.3 85.3

July ....................... August .................. September ........... October ................ November ............ December ............

22.8 23.8 24.3 24.5 24.3 24.7

20.7 21.7 22.0 22.3 22.2 22.5

27.3 27.5 27.5 27.7 27.5 27.8

17.5 17.5 17.3 17.5 17.2 18.0

32.6 32.8 32.8 33.0 32.9 32.9

13.2 13.3 13.4 13.5 13.7 13.9

43.5 44.0 44.5 45.6 46.3 47.3

33.4 35.1 36.1 35.8 35.5 36.2

19.4 19.4 19.4 19.6 19.6 19.7

21.6 23.6 24.8 25.2 24.6 25.1

... ... ... ... ... ...

81.5 84.9 86.0 86.5 85.8 86.8

1957 January ................ February ............... March ................... April ...................... May ...................... June .....................

24.6 24.8 24.8 24.4 24.4 24.4

22.4 22.7 22.6 22.3 22.2 22.4

27.9 28.3 28.3 28.0 28.1 28.2

18.0 18.3 18.2 17.7 17.6 17.9

33.0 33.4 33.6 33.5 33.5 33.6

14.1 14.4 14.3 14.0 13.8 13.9

47.5 47.8 47.7 47.9 47.2 47.4

35.6 36.7 36.1 35.4 35.2 35.4

19.8 19.8 19.7 19.7 19.9 19.7

24.6 24.8 24.7 24.4 24.2 24.4

... ... ... ... ... ...

86.2 87.0 86.4 85.0 84.2 84.6

July ....................... August .................. September ........... October ................ November ............ December ............

24.6 24.6 24.4 24.0 23.4 23.0

22.4 22.4 22.2 21.8 21.3 20.9

28.3 28.5 28.5 28.0 28.0 27.8

17.8 18.2 18.2 17.5 17.5 16.7

33.9 33.8 33.9 33.6 33.5 33.8

13.9 13.9 13.7 13.3 13.0 12.6

46.9 47.0 46.0 44.9 43.4 43.1

35.5 35.2 35.0 34.6 34.2 33.6

19.8 19.8 19.8 19.6 19.4 19.3

24.5 24.6 24.2 23.9 23.0 22.2

... ... ... ... ... ...

84.3 84.2 83.2 81.4 79.4 77.5

. . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

447

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1958 January ................ February ............... March ................... April ...................... May ...................... June .....................

22.5 22.1 21.8 21.4 21.6 22.2

20.5 20.0 19.8 19.4 19.7 20.3

27.4 27.2 27.0 26.7 27.1 27.7

16.0 15.5 15.0 14.4 14.9 15.3

33.7 33.7 33.7 33.7 34.0 34.5

12.3 11.9 11.6 11.4 11.1 11.1

43.6 43.9 44.8 45.5 46.0 47.3

33.2 32.1 32.0 31.6 32.6 33.9

19.2 19.2 19.2 19.1 19.0 19.2

21.6 20.9 20.3 19.8 20.1 20.9

... ... ... ... ... ...

75.7 73.8 72.7 71.3 71.9 73.9

July ....................... August .................. September ........... October ................ November ............ December ............

22.5 23.0 23.2 23.5 24.2 24.2

20.4 20.9 21.1 21.2 22.0 22.0

28.1 28.2 27.9 28.1 29.5 29.6

15.5 15.8 14.7 15.5 18.1 18.2

35.0 35.0 35.2 35.2 35.6 35.7

11.2 11.4 11.5 11.6 11.9 11.9

47.3 47.8 48.1 48.0 48.4 48.5

33.7 35.2 35.3 35.3 36.6 36.2

19.3 19.5 19.8 20.1 20.2 20.1

21.5 22.1 22.7 23.1 23.7 23.8

... ... ... ... ... ...

74.3 75.7 76.2 76.4 79.1 79.0

1959 January ................ February ............... March ................... April ...................... May ...................... June .....................

24.6 25.0 25.4 25.9 26.3 26.4

22.4 22.8 23.2 23.7 24.0 24.0

29.9 30.2 30.2 30.6 30.8 30.6

18.2 18.3 18.7 18.8 19.2 19.3

36.1 36.5 36.3 36.9 36.9 36.7

12.2 12.3 12.5 12.8 13.2 13.5

48.7 48.2 48.4 48.8 49.1 49.3

36.9 37.9 38.9 40.0 40.3 40.2

20.6 20.8 20.9 20.9 21.0 21.2

24.2 24.9 25.6 26.3 27.0 26.8

... ... ... ... ... ...

80.2 81.4 82.5 84.0 84.9 84.8

July ....................... August .................. September ........... October ................ November ............ December ............

25.7 24.9 24.8 24.7 24.8 26.3

23.6 22.6 22.6 22.4 22.6 24.1

31.0 31.1 31.0 30.8 30.2 31.2

19.7 19.2 18.6 19.0 16.7 18.8

37.0 37.4 37.6 37.1 37.6 37.8

13.6 13.4 13.3 13.2 13.0 13.2

49.5 49.2 49.5 49.4 49.3 49.7

38.6 36.1 35.7 35.9 37.1 40.0

21.4 21.4 21.5 21.5 21.4 21.6

25.2 23.3 23.3 23.0 23.9 26.5

... ... ... ... ... ...

83.0 79.5 79.0 78.2 78.5 83.6

1960 January ................ February ............... March ................... April ...................... May ...................... June .....................

27.0 26.8 26.5 26.3 26.3 26.0

24.8 24.6 24.3 24.1 23.9 23.7

32.1 31.8 31.8 32.0 32.2 32.0

20.9 20.6 20.2 20.1 20.3 20.1

37.9 37.6 37.9 38.3 38.4 38.2

13.7 13.8 13.8 13.7 13.7 13.5

50.1 50.4 50.6 50.3 50.9 49.6

39.7 39.3 38.1 38.1 37.7 37.0

21.9 21.9 21.9 22.2 22.3 22.1

27.3 26.9 26.5 25.9 25.6 25.2

... ... ... ... ... ...

85.6 84.6 83.2 82.3 81.5 80.2

July ....................... August .................. September ........... October ................ November ............ December ............

25.9 25.9 25.6 25.6 25.2 24.7

23.6 23.5 23.3 23.2 22.8 22.4

31.7 31.8 31.6 32.0 31.4 31.2

19.4 19.6 19.3 19.5 18.9 18.3

38.3 38.3 38.2 38.6 38.2 38.1

13.4 13.2 13.1 13.0 12.9 12.7

50.8 51.1 50.9 50.4 50.6 49.8

37.4 36.4 36.1 36.2 35.8 35.3

22.1 21.9 21.8 21.9 21.9 21.5

25.2 25.1 24.7 24.6 24.0 23.3

... ... ... ... ... ...

79.7 79.1 77.9 77.5 75.8 74.3

1961 January ................ February ............... March ................... April ...................... May ...................... June .....................

24.7 24.7 24.9 25.4 25.8 26.1

22.4 22.3 22.5 23.0 23.4 23.7

30.9 31.1 31.1 31.8 32.2 32.5

17.6 17.5 17.5 18.8 19.4 20.0

38.2 38.5 38.5 38.9 39.1 39.3

12.7 12.6 12.6 12.7 12.8 12.9

50.4 50.0 49.9 50.0 50.0 50.0

35.0 34.9 35.7 36.6 36.8 37.6

21.9 21.9 22.1 22.2 22.3 22.5

23.5 23.4 23.6 24.3 25.0 25.4

... ... ... ... ... ...

74.1 73.5 73.9 75.4 76.4 77.3

July ....................... August .................. September ........... October ................ November ............ December ............

26.4 26.7 26.6 27.1 27.6 27.8

24.0 24.4 24.2 24.7 25.1 25.4

32.8 33.1 32.5 33.4 34.0 34.0

20.4 20.4 19.3 20.3 21.2 21.6

39.5 39.8 39.6 40.3 40.7 40.7

12.9 13.0 13.2 13.2 13.5 13.6

50.4 50.6 51.7 52.9 54.1 55.1

38.2 38.6 38.9 39.2 38.9 39.2

22.7 22.9 22.8 23.1 23.3 23.5

25.7 26.2 26.3 26.8 27.1 27.5

... ... ... ... ... ...

78.1 79.0 78.2 79.6 80.8 81.6

1962 January ................ February ............... March ................... April ...................... May ...................... June .....................

27.6 28.0 28.2 28.2 28.2 28.1

25.1 25.5 25.7 25.8 25.7 25.6

33.8 34.0 34.3 34.6 34.7 34.5

21.1 21.3 21.6 22.1 22.3 21.9

40.5 40.8 41.0 41.1 41.3 41.2

13.5 13.7 13.9 14.0 14.0 14.1

55.7 56.7 57.5 58.0 58.4 58.9

37.4 39.6 40.1 39.5 39.5 39.8

23.5 23.7 23.7 23.7 24.1 24.0

27.3 27.7 27.8 27.7 27.4 27.3

... ... ... ... ... ...

80.2 81.4 81.9 81.7 81.3 80.9

July ....................... August .................. September ........... October ................ November ............ December ............

28.4 28.4 28.6 28.7 28.8 28.8

25.9 25.9 26.1 26.1 26.3 26.3

35.1 34.7 34.9 34.9 35.1 35.2

22.3 22.0 22.3 22.4 22.4 22.6

41.7 41.3 41.6 41.4 41.6 41.8

14.2 14.4 14.4 14.4 14.4 14.3

60.1 60.9 61.1 61.2 61.9 62.1

39.6 40.3 40.8 40.1 40.3 40.6

24.0 24.1 24.4 24.3 24.5 24.3

27.5 27.6 27.8 27.8 28.0 27.9

... ... ... ... ... ...

81.5 81.4 81.8 81.4 81.8 81.7

1963 January ................ February ............... March ................... April ...................... May ...................... June .....................

29.0 29.3 29.5 29.8 30.1 30.2

26.5 26.7 26.9 27.2 27.5 27.6

35.7 36.1 36.2 36.4 36.4 36.6

22.8 23.1 23.1 23.3 23.7 24.1

42.4 42.8 43.0 43.2 43.0 43.1

14.3 14.5 14.4 14.5 14.5 14.5

65.0 64.6 64.2 64.1 64.1 64.1

39.6 39.7 40.2 41.5 42.4 42.3

24.5 24.8 24.5 25.3 25.6 25.5

28.0 28.4 28.8 29.1 29.8 29.9

... ... ... ... ... ...

81.9 82.4 82.6 83.5 84.0 83.9

July ....................... August .................. September ........... October ................ November ............ December ............

30.1 30.2 30.5 30.7 30.8 30.8

27.5 27.6 27.8 28.0 28.1 28.1

36.5 36.8 36.9 37.2 37.2 37.5

24.1 24.1 24.6 24.6 24.8 24.9

42.9 43.4 43.3 43.6 43.6 43.9

14.8 15.1 15.1 15.3 15.5 15.4

63.4 63.7 63.9 63.9 63.7 63.9

42.1 42.2 41.9 42.6 43.1 42.4

25.6 25.8 26.1 26.3 26.6 26.4

29.6 29.3 29.9 30.1 30.3 30.1

... ... ... ... ... ...

83.3 83.5 83.8 84.3 84.3 84.0

. . . = Not available.

448

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1964 January ................ February ............... March ................... April ...................... May ...................... June .....................

31.0 31.2 31.2 31.7 31.9 32.0

28.4 28.5 28.5 29.0 29.2 29.2

37.8 37.7 37.6 38.5 38.8 38.7

25.0 25.1 24.9 25.6 25.7 26.0

44.4 44.2 44.1 45.1 45.5 45.2

15.8 15.7 15.9 16.3 16.5 16.5

63.2 62.7 62.5 62.4 61.3 60.9

42.7 43.8 43.9 44.1 44.3 44.0

26.6 26.8 26.9 27.3 27.6 27.6

30.3 30.8 30.8 31.2 31.4 31.6

... ... ... ... ... ...

84.5 84.7 84.4 85.6 85.6 85.4

July ....................... August .................. September ........... October ................ November ............ December ............

32.2 32.4 32.6 32.1 33.1 33.5

29.5 29.6 29.8 29.3 30.2 30.8

39.3 39.2 38.8 38.0 39.4 40.2

26.4 26.6 26.0 23.3 26.5 28.0

45.8 45.5 45.3 45.9 46.0 46.3

16.8 16.8 16.9 16.8 17.3 17.6

60.8 61.1 61.5 61.9 62.6 63.0

44.9 44.4 44.1 44.2 45.3 44.7

27.6 27.5 27.5 27.6 27.8 28.0

31.7 32.3 32.8 32.2 33.2 33.6

... ... ... ... ... ...

85.9 86.1 86.2 84.6 86.8 88.0

1965 January ................ February ............... March ................... April ...................... May ...................... June .....................

33.9 34.1 34.5 34.7 34.9 35.2

31.1 31.3 31.7 31.9 32.1 32.3

40.8 40.9 41.3 41.2 41.4 41.6

28.5 28.9 29.7 29.6 29.8 30.1

46.9 46.8 46.9 46.8 47.0 47.1

17.6 17.9 18.1 18.3 18.6 18.8

63.7 64.4 65.6 66.4 67.8 68.7

45.0 46.2 46.6 45.9 46.4 46.4

28.3 28.4 28.7 28.7 29.0 29.1

34.0 34.1 34.7 35.0 35.2 35.6

... ... ... ... ... ...

88.6 88.7 89.3 89.3 89.4 89.5

July ....................... August .................. September ........... October ................ November ............ December ............

35.5 35.7 35.8 36.1 36.3 36.7

32.8 32.9 32.9 33.2 33.4 33.9

41.6 41.5 42.1 42.4 42.6 42.8

30.3 30.0 30.6 30.8 31.1 31.7

46.9 47.1 47.7 47.8 48.1 48.0

19.2 19.2 19.5 19.8 20.2 20.6

69.8 70.3 70.5 71.4 72.0 72.7

47.7 47.2 46.8 47.5 48.2 49.2

29.1 29.4 29.4 29.7 29.9 30.4

35.9 36.2 36.0 36.3 36.2 36.6

... ... ... ... ... ...

90.3 89.9 89.6 89.8 89.6 90.5

1966 January ................ February ............... March ................... April ...................... May ...................... June .....................

37.1 37.3 37.8 37.9 38.3 38.5

34.2 34.4 34.9 35.1 35.3 35.5

43.1 43.2 43.5 43.6 43.6 43.8

31.8 31.7 32.0 32.6 32.1 32.1

48.3 48.6 48.9 48.8 49.1 49.4

21.0 21.0 21.4 21.6 21.8 22.0

74.2 75.4 76.0 77.6 79.1 80.2

49.2 48.7 49.7 49.7 49.9 49.2

30.4 30.7 31.0 30.8 31.2 31.6

37.1 37.5 38.2 38.1 38.5 38.8

... ... ... ... ... ...

90.9 90.9 91.6 91.5 91.6 91.5

July ....................... August .................. September ........... October ................ November ............ December ............

38.7 38.7 39.1 39.3 39.1 39.1

35.7 35.7 36.0 36.4 36.0 36.2

43.8 43.6 43.8 44.7 44.4 44.3

31.5 31.0 31.1 32.8 31.8 31.4

49.7 49.8 49.9 50.3 50.6 50.6

22.4 22.5 22.7 22.7 22.3 22.7

81.3 82.4 83.5 84.8 86.3 87.2

49.7 48.2 48.2 48.2 48.3 48.2

32.0 31.8 32.0 32.0 32.1 32.2

38.9 39.2 39.6 39.8 39.2 39.2

... ... ... ... ... ...

91.4 91.1 91.2 91.6 90.1 90.0

1967 January ................ February ............... March ................... April ...................... May ...................... June .....................

39.3 38.9 38.7 39.0 38.7 38.7

36.3 35.9 35.7 35.9 35.7 35.6

44.7 44.1 44.3 45.0 44.2 44.3

30.7 29.8 30.1 30.3 29.9 29.6

51.8 51.4 51.4 52.5 51.4 51.8

22.5 22.5 22.5 22.5 22.6 22.4

88.7 89.7 90.6 91.5 92.2 92.0

49.5 49.1 49.1 49.0 49.8 50.1

32.8 32.6 32.6 32.9 32.4 32.6

39.0 38.3 37.6 37.9 37.5 37.4

89.4 88.0 87.1 87.5 86.4 86.0

89.8 88.4 87.5 87.7 86.6 86.1

July ....................... August .................. September ........... October ................ November ............ December ............

38.6 39.3 39.3 39.6 40.2 40.6

35.5 36.1 36.1 36.4 37.1 37.5

44.2 44.7 44.7 45.3 46.3 47.1

30.0 30.3 30.2 30.8 32.5 33.8

51.4 51.9 52.1 52.7 53.1 53.5

22.0 22.4 22.3 22.1 22.7 22.9

92.5 92.7 92.9 93.7 93.8 93.8

50.3 50.8 51.2 50.9 51.3 51.2

32.7 33.6 33.7 33.9 34.0 33.9

37.4 38.5 38.3 38.7 39.2 39.7

85.4 86.6 86.1 86.4 87.3 87.8

85.3 86.5 86.1 86.4 87.5 88.0

1968 January ................ February ............... March ................... April ...................... May ...................... June .....................

40.5 40.7 40.8 40.9 41.3 41.5

37.4 37.5 37.6 37.6 38.1 38.2

46.4 46.7 47.0 46.9 47.1 47.4

32.8 33.3 33.2 33.3 33.7 34.0

53.1 53.2 53.7 53.6 53.7 54.0

23.0 23.0 23.2 23.1 23.4 23.4

93.4 94.5 92.7 90.8 92.1 92.6

51.6 52.1 52.2 52.5 52.7 52.7

34.0 34.3 34.3 34.6 35.0 35.1

39.9 39.9 40.0 40.3 40.9 41.1

87.4 87.3 87.3 87.1 87.7 87.7

87.4 87.4 87.2 86.9 87.6 87.4

July ....................... August .................. September ........... October ................ November ............ December ............

41.4 41.5 41.7 41.8 42.3 42.5

38.1 38.3 38.3 38.5 39.1 39.1

47.3 47.9 48.1 48.4 49.0 48.7

33.7 34.2 34.5 35.0 35.8 36.1

54.0 54.6 54.6 54.8 55.3 54.6

23.2 23.4 23.6 23.8 23.8 24.1

92.6 92.8 92.7 90.3 91.2 90.7

52.8 53.0 52.6 52.6 53.8 54.8

35.1 35.5 35.6 35.8 36.2 36.4

41.1 40.8 41.0 41.1 41.7 41.9

87.2 87.1 87.1 86.9 87.7 87.6

86.7 86.8 86.5 86.6 87.5 87.1

1969 January ................ February ............... March ................... April ...................... May ...................... June .....................

42.7 43.0 43.3 43.2 43.0 43.4

39.3 39.6 39.9 39.8 39.6 39.8

49.0 49.4 49.7 49.0 48.6 49.2

36.0 36.0 36.2 35.2 34.8 35.9

55.1 55.7 56.2 55.6 55.3 55.4

24.4 24.4 24.7 24.9 24.7 25.0

90.9 90.2 90.6 89.9 89.7 88.4

55.2 55.7 55.9 55.4 55.0 55.3

36.6 36.4 37.6 37.1 37.4 37.7

42.1 42.6 42.8 42.9 42.8 43.4

87.8 88.1 88.5 87.8 87.2 87.7

87.3 87.6 88.0 87.3 86.6 86.8

July ....................... August .................. September ........... October ................ November ............ December ............

43.6 43.7 43.7 43.7 43.3 43.2

40.1 40.2 40.1 40.2 39.8 39.5

50.1 50.0 49.6 49.6 49.2 49.2

35.9 36.3 36.0 36.2 34.7 34.5

56.8 56.4 56.0 55.9 56.3 56.5

25.3 25.2 25.4 25.5 24.9 24.8

88.1 86.8 86.3 85.5 83.9 82.9

54.8 54.8 54.8 55.0 54.6 54.3

37.5 37.7 37.6 37.7 37.5 37.9

43.4 43.8 44.0 44.0 43.7 43.5

87.9 87.7 87.4 87.1 86.0 85.5

87.1 86.9 86.4 86.2 85.0 84.2

. . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

449

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1970 January ................ February ............... March ................... April ...................... May ...................... June .....................

42.4 42.4 42.3 42.2 42.2 42.0

38.7 38.7 38.6 38.5 38.4 38.3

48.4 48.9 48.8 49.0 49.3 49.4

32.7 33.1 33.4 33.4 33.5 34.1

56.4 56.8 56.5 56.8 57.3 57.0

24.5 24.6 24.6 24.6 24.6 24.4

81.7 80.4 78.6 76.9 75.2 73.9

52.6 52.4 52.9 53.4 53.5 53.3

37.9 37.6 37.8 37.6 37.5 37.5

42.5 42.2 42.1 41.8 41.7 41.5

83.6 83.3 82.9 82.5 82.1 81.6

82.1 81.9 81.4 80.8 80.4 79.9

July ....................... August .................. September ........... October ................ November ............ December ............

42.1 42.1 41.8 40.9 40.7 41.6

38.4 38.1 37.8 36.9 36.7 37.7

49.5 48.7 48.5 47.9 47.6 49.6

34.2 33.1 32.2 30.3 30.4 34.0

57.2 56.5 56.8 57.1 56.6 57.5

24.4 24.3 23.8 23.0 22.9 23.2

72.7 72.1 71.4 70.4 69.8 69.1

53.9 53.6 53.5 53.0 52.3 52.9

37.6 37.3 37.6 37.4 37.5 37.5

41.7 42.2 41.9 40.8 40.6 41.5

81.5 81.1 80.3 78.5 77.8 79.3

79.9 79.1 78.2 76.2 75.5 77.3

1971 January ................ February ............... March ................... April ...................... May ...................... June .....................

42.0 41.9 41.8 42.1 42.3 42.5

38.0 38.0 37.9 38.1 38.4 38.5

50.4 50.4 50.5 50.9 51.0 51.3

35.3 36.1 36.1 36.4 36.9 37.2

57.8 57.2 57.4 57.9 57.6 58.0

22.7 22.8 22.5 22.4 22.3 22.4

69.6 67.9 67.3 67.4 68.2 67.2

53.0 53.3 53.1 53.6 53.8 54.4

37.7 38.1 37.8 38.1 38.2 38.1

42.1 41.8 41.9 42.2 42.7 42.9

79.7 79.3 79.0 79.3 79.5 79.6

77.7 77.5 77.2 77.4 77.7 77.7

July ....................... August .................. September ........... October ................ November ............ December ............

42.3 42.1 42.8 43.1 43.3 43.8

38.6 38.1 38.9 39.5 39.6 40.0

52.1 51.5 52.0 52.7 53.1 53.5

37.9 37.6 37.5 38.2 38.6 38.7

58.9 58.1 59.0 59.6 60.1 60.5

22.4 22.7 23.3 23.5 23.6 23.7

66.6 66.7 66.0 65.6 65.0 64.1

54.9 54.0 56.0 56.8 56.9 57.9

39.0 38.6 39.2 39.5 39.9 40.0

41.8 41.6 42.4 42.5 42.6 43.5

79.2 78.5 79.6 80.0 80.1 80.9

77.6 76.5 77.9 78.8 78.9 79.4

1972 January ................ February ............... March ................... April ...................... May ...................... June .....................

44.8 45.2 45.6 46.0 46.0 46.2

41.0 41.3 41.6 42.0 42.1 42.3

54.3 54.6 54.6 55.2 55.0 55.0

39.9 40.0 39.8 40.9 40.6 40.6

61.1 61.4 61.7 61.8 61.7 61.8

24.5 24.8 25.1 25.5 25.6 25.8

63.8 64.0 64.7 65.0 64.3 64.4

59.5 59.7 60.2 60.8 61.1 61.7

40.7 41.4 41.9 41.9 42.1 42.5

44.8 45.3 45.7 46.2 46.3 46.3

82.6 83.1 83.5 84.2 84.0 84.0

81.2 81.6 82.0 82.7 82.6 82.8

July ....................... August .................. September ........... October ................ November ............ December ............

46.2 46.8 47.1 47.8 48.3 48.9

42.3 42.9 43.2 43.8 44.4 45.0

55.5 56.1 56.3 57.2 57.6 58.1

41.5 41.9 42.3 43.3 44.2 45.1

61.8 62.6 62.7 63.4 63.4 63.5

25.8 26.3 26.5 27.0 27.5 27.8

64.4 64.3 64.8 65.0 66.9 68.0

62.6 63.0 63.5 64.5 64.9 64.8

42.5 43.0 43.0 43.7 43.9 44.0

46.0 46.7 47.2 47.7 48.4 49.2

83.8 84.7 85.1 86.0 86.8 87.5

82.6 83.4 83.8 84.8 85.7 86.5

1973 January ................ February ............... March ................... April ...................... May ...................... June .....................

49.2 49.9 49.9 49.8 50.2 50.2

45.3 46.0 46.1 46.0 46.3 46.3

57.9 58.7 58.8 58.2 58.6 58.2

44.9 45.7 45.8 45.1 45.0 44.9

63.5 64.1 64.3 63.8 64.5 63.9

28.1 28.8 29.0 29.2 29.6 29.9

68.9 70.5 70.2 69.8 70.1 70.8

65.5 66.7 67.1 66.9 67.3 67.3

44.3 44.8 44.8 44.8 45.1 45.1

49.6 50.3 50.2 50.3 50.6 50.7

87.7 88.8 88.5 88.1 88.4 88.2

86.8 88.0 87.8 87.4 87.7 87.4

July ....................... August .................. September ........... October ................ November ............ December ............

50.4 50.3 50.8 51.1 51.4 51.2

46.5 46.4 46.8 47.2 47.5 47.5

58.1 57.5 58.5 58.7 58.9 57.8

44.9 43.5 45.0 44.7 44.7 43.8

63.7 63.8 64.3 64.9 65.2 64.1

30.3 30.4 30.9 31.3 31.4 31.6

72.3 72.4 72.5 74.0 73.5 72.8

67.9 68.0 67.9 67.8 68.2 68.9

45.4 45.4 45.4 45.9 45.9 45.5

50.9 50.9 51.2 51.5 51.9 52.1

88.3 87.9 88.4 88.7 88.9 88.4

87.6 87.0 87.5 87.9 88.3 88.1

1974 January ................ February ............... March ................... April ...................... May ...................... June .....................

50.9 50.7 50.7 50.6 51.0 50.9

47.1 47.0 46.9 46.8 47.1 47.1

57.0 56.8 56.9 56.7 57.2 57.5

41.5 41.3 41.4 41.2 41.2 41.8

64.3 64.1 64.2 64.1 64.8 64.9

31.6 31.5 31.7 31.6 31.9 31.8

72.3 73.1 73.0 72.9 73.2 72.2

68.9 68.1 68.3 67.7 68.0 67.6

45.5 45.3 45.4 45.5 45.7 45.9

51.7 51.6 51.4 51.4 51.7 51.5

87.5 87.0 86.7 86.4 86.7 86.4

87.1 86.5 86.2 85.7 85.9 85.8

July ....................... August .................. September ........... October ................ November ............ December ............

50.9 50.4 50.5 50.3 48.6 46.9

47.0 46.7 46.7 46.3 44.9 42.9

57.3 57.3 56.8 56.9 55.2 53.5

41.7 41.6 41.5 41.0 39.0 35.8

64.8 64.8 64.0 64.4 63.1 62.5

31.8 31.8 32.3 32.3 31.8 30.4

73.1 74.7 75.0 76.1 75.8 75.0

66.3 65.5 65.1 64.0 61.9 59.1

45.5 45.3 45.1 44.9 43.9 43.0

51.7 50.8 51.0 50.7 48.5 46.6

86.2 85.2 85.1 84.5 81.6 78.6

85.4 84.5 84.4 83.6 80.9 77.1

1975 January ................ February ............... March ................... April ...................... May ...................... June .....................

46.3 45.2 44.7 44.7 44.6 44.9

42.1 40.8 40.3 40.2 40.3 40.6

52.3 51.6 51.7 52.8 53.1 53.8

34.3 33.3 33.8 35.0 36.0 36.4

61.5 61.0 61.0 61.9 61.7 62.6

29.8 28.7 28.2 27.9 27.6 27.3

76.0 71.8 72.5 72.1 75.5 76.7

58.8 56.9 54.8 54.3 54.4 54.1

42.3 41.5 40.9 41.0 40.8 40.9

46.2 45.1 44.4 44.2 43.9 44.2

77.4 75.3 74.4 74.3 74.1 74.4

75.4 73.1 72.0 71.7 71.6 72.1

July ....................... August .................. September ........... October ................ November ............ December ............

45.4 45.8 46.4 46.6 46.7 47.3

41.2 41.6 42.3 42.5 42.6 43.2

55.2 55.5 56.3 56.4 56.6 57.1

38.2 38.7 39.5 39.4 39.4 40.1

63.6 63.8 64.5 64.7 65.1 65.4

27.6 27.4 27.8 27.8 27.7 28.1

75.7 75.1 77.4 76.8 73.7 76.1

54.9 55.5 56.1 56.4 56.7 56.8

41.3 41.7 41.9 42.1 42.2 42.6

44.4 45.1 45.7 46.0 46.2 46.9

75.1 75.6 76.5 76.6 76.6 77.4

73.0 73.6 74.7 74.8 74.9 75.7

450

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1976 January ................ February ............... March ................... April ...................... May ...................... June .....................

48.0 48.4 48.4 48.8 49.0 49.0

43.7 44.3 44.4 44.7 44.9 45.0

57.9 58.0 57.9 58.1 58.6 58.3

40.8 41.3 41.2 41.2 41.3 41.1

66.2 66.2 66.0 66.2 67.0 66.7

28.5 28.6 28.6 29.0 29.2 29.3

76.5 76.1 76.1 74.6 73.8 73.1

58.2 59.1 58.2 59.1 59.7 60.1

43.0 43.1 43.3 43.6 43.7 43.4

47.6 48.3 48.5 48.9 48.9 49.0

78.4 78.9 78.8 79.2 79.3 79.2

76.6 77.4 77.4 77.8 78.0 77.8

July ....................... August .................. September ........... October ................ November ............ December ............

49.2 49.6 49.7 49.8 50.5 51.0

45.3 45.6 45.7 45.7 46.3 46.8

58.7 58.8 58.8 59.3 60.4 61.0

41.4 42.0 41.6 42.1 43.5 44.6

67.1 67.0 67.1 67.6 68.4 68.7

29.6 30.1 30.1 30.3 31.2 31.6

71.1 71.1 70.9 70.9 70.2 69.1

61.4 60.8 61.1 61.1 61.5 61.8

44.1 44.2 45.2 45.4 45.7 46.1

49.1 49.6 49.7 49.5 50.1 50.7

79.4 79.8 79.8 79.8 80.8 81.4

78.2 78.5 78.5 78.3 79.1 79.8

1977 January ................ February ............... March ................... April ...................... May ...................... June .....................

50.8 51.5 52.2 52.6 53.0 53.4

46.6 47.5 48.2 48.7 49.1 49.4

60.9 61.6 61.7 62.0 62.1 62.5

44.5 45.0 46.2 46.6 46.8 47.7

68.6 69.4 68.7 69.0 69.0 69.1

31.7 32.5 32.9 33.4 33.9 34.6

68.0 67.8 66.3 66.6 66.5 66.4

60.8 62.2 63.6 65.1 66.0 66.5

45.9 46.5 46.8 47.3 47.8 48.2

50.2 51.0 52.0 52.4 52.9 53.1

80.7 81.7 82.5 83.1 83.5 83.8

79.3 80.5 81.5 82.1 82.5 82.9

July ....................... August .................. September ........... October ................ November ............ December ............

53.6 53.6 53.9 54.0 54.0 54.1

49.5 49.8 49.9 50.0 50.1 50.6

62.7 62.8 62.8 63.4 63.4 63.9

47.7 47.7 47.9 47.9 47.9 48.1

69.3 69.5 69.3 70.3 70.3 71.0

35.0 35.3 35.6 35.5 35.5 36.2

66.3 65.5 65.5 60.0 59.0 63.1

66.6 67.1 66.8 66.9 67.2 67.8

48.4 48.7 48.8 48.8 48.9 49.2

53.1 53.0 53.4 53.6 53.7 53.1

83.8 83.7 83.8 83.8 83.6 83.5

82.8 83.0 82.9 82.9 82.8 83.4

1978 January ................ February ............... March ................... April ...................... May ...................... June .....................

53.4 53.6 54.6 55.7 55.9 56.3

49.9 50.0 50.9 51.7 51.9 52.3

62.3 63.3 64.6 65.1 64.6 65.0

45.5 46.6 48.1 49.0 48.3 48.7

70.2 71.1 72.1 72.3 72.0 72.4

35.6 36.3 37.1 38.0 37.9 38.6

63.8 60.6 65.9 65.5 65.6 66.2

66.5 66.3 67.6 69.1 69.0 69.6

49.1 49.2 49.9 50.0 50.3 50.8

52.6 52.5 53.3 54.9 55.4 55.7

82.1 82.3 83.5 85.0 85.1 85.5

82.0 82.1 83.2 84.3 84.3 84.8

July ....................... August .................. September ........... October ................ November ............ December ............

56.3 56.5 56.6 57.1 57.6 57.9

52.2 52.5 52.7 53.1 53.6 54.1

64.7 64.6 64.7 64.7 64.9 65.0

48.8 48.5 48.2 48.4 48.5 48.7

71.9 71.9 72.2 72.1 72.3 72.5

38.8 39.4 39.7 40.6 41.4 41.9

66.2 66.9 67.0 66.7 66.3 67.0

69.6 69.8 70.0 70.7 71.1 72.4

50.7 50.8 50.9 51.2 51.4 51.8

55.7 55.9 56.0 56.6 57.0 57.3

85.2 85.3 85.3 85.8 86.3 86.6

84.5 84.6 84.7 85.2 85.8 86.2

1979 January ................ February ............... March ................... April ...................... May ...................... June .....................

57.5 57.8 58.0 57.5 57.8 57.8

53.6 53.9 54.1 53.3 53.9 54.0

64.8 64.4 64.7 63.5 63.9 63.6

49.0 48.4 48.3 46.0 47.3 46.8

72.0 71.7 72.2 71.8 71.6 71.4

42.3 43.1 43.4 42.7 43.7 43.9

67.2 68.8 68.1 66.7 67.7 68.3

70.5 71.0 71.9 70.7 71.0 71.3

51.8 52.3 52.5 52.3 52.4 52.1

56.5 57.0 57.1 56.8 57.0 57.1

85.8 86.1 86.2 85.1 85.5 85.3

85.2 85.4 85.6 84.1 84.8 84.7

July ....................... August .................. September ........... October ................ November ............ December ............

57.7 57.3 57.4 57.7 57.7 57.7

54.0 53.3 53.5 53.6 53.5 53.7

63.1 62.4 62.8 62.9 62.7 62.8

46.2 44.1 45.7 45.4 44.6 44.5

71.0 71.3 70.8 71.2 71.4 71.6

44.3 43.7 44.9 44.3 44.3 44.6

69.6 70.6 71.2 73.5 75.3 76.8

71.3 70.6 70.7 71.2 70.9 71.3

52.2 52.4 51.8 52.3 52.5 52.6

56.9 56.5 56.2 56.7 56.6 56.6

85.0 84.2 84.1 84.4 84.1 84.1

84.6 83.2 83.2 83.3 82.8 82.9

1980 January ................ February ............... March ................... April ...................... May ...................... June .....................

58.0 58.0 57.8 56.7 55.2 54.5

53.9 53.9 53.4 52.4 50.7 50.0

62.5 62.7 62.3 61.3 60.0 59.7

43.6 43.3 42.5 40.7 38.2 37.6

71.7 72.3 72.1 71.7 71.2 71.2

45.3 45.6 45.2 44.7 43.9 43.3

77.9 81.5 82.2 82.9 83.1 83.8

71.1 70.0 69.2 66.0 63.3 62.0

52.2 52.2 52.1 51.3 50.2 49.6

57.0 56.8 56.8 55.4 53.8 52.8

84.3 84.1 83.7 81.9 79.6 78.5

83.0 82.8 81.9 80.1 77.4 76.0

July ....................... August .................. September ........... October ................ November ............ December ............

54.2 54.3 55.2 55.9 56.9 57.2

49.5 49.9 50.7 51.5 52.5 52.7

59.8 60.1 60.6 61.0 61.4 61.3

37.5 37.8 39.6 40.3 41.3 40.8

71.3 71.6 71.2 71.5 71.3 71.7

43.4 43.3 44.0 44.7 45.5 45.6

84.6 84.8 85.0 86.2 87.3 87.6

61.5 62.4 64.0 65.3 66.7 66.6

49.8 50.0 50.7 50.8 51.4 52.0

52.1 52.2 53.3 54.0 55.2 55.8

77.8 77.9 79.0 79.8 81.0 81.3

75.2 75.5 76.5 77.6 78.9 78.9

1981 January ................ February ............... March ................... April ...................... May ...................... June .....................

56.9 56.6 56.9 56.6 57.0 57.3

52.5 52.1 52.3 52.6 52.9 52.7

61.3 61.1 61.1 61.3 62.0 61.6

40.6 40.4 41.0 41.5 42.2 41.9

71.8 71.6 71.2 71.2 71.8 71.3

45.9 45.3 45.8 46.1 46.3 46.1

87.4 86.8 87.0 87.1 88.1 89.0

66.4 65.7 66.0 66.0 66.0 65.0

52.0 51.5 51.6 51.8 52.5 52.7

55.1 54.9 55.3 54.5 54.8 55.6

80.7 80.1 80.4 79.8 80.2 80.4

78.4 77.7 77.8 78.0 78.2 77.7

July ....................... August .................. September ........... October ................ November ............ December ............

57.7 57.7 57.3 56.9 56.3 55.7

52.8 52.8 52.6 52.1 51.5 50.6

62.0 62.0 61.4 61.8 61.7 61.1

42.1 41.8 40.8 40.6 39.8 38.2

71.8 72.1 71.8 72.5 72.9 73.0

46.2 46.2 46.2 45.9 45.3 44.5

90.3 91.5 93.4 95.3 97.9 100.7

65.1 65.0 64.5 62.6 61.7 60.6

53.0 52.7 52.7 52.4 52.1 52.1

56.0 56.0 55.5 54.7 53.8 53.1

80.7 80.6 79.9 79.1 78.1 77.0

77.7 77.6 77.0 76.1 75.0 73.6

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

451

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1982 January ................ February ............... March ................... April ...................... May ...................... June .....................

54.6 55.7 55.3 54.8 54.4 54.2

49.4 50.8 50.4 50.0 49.9 49.8

60.1 61.7 61.3 61.3 61.3 61.6

37.1 38.5 38.3 39.1 39.1 39.4

72.1 73.7 73.2 72.7 72.7 73.0

42.9 44.3 43.7 43.3 43.1 42.2

100.7 105.9 107.3 108.1 109.6 109.7

58.5 60.6 59.3 58.9 59.1 58.6

51.4 52.4 52.1 51.9 51.6 51.6

52.2 52.8 52.5 51.8 51.2 51.0

75.4 76.6 75.9 75.1 74.4 74.0

71.8 73.5 72.8 72.1 71.8 71.5

July ....................... August .................. September ........... October ................ November ............ December ............

54.0 53.6 53.3 52.9 52.7 52.2

49.7 49.3 49.2 48.6 48.3 48.1

61.7 61.6 61.5 61.6 61.5 60.7

39.6 39.1 38.5 38.0 38.0 37.9

73.1 73.2 73.5 74.0 73.7 72.5

42.1 41.1 40.8 39.9 39.5 39.8

111.0 110.5 112.0 111.8 111.9 111.0

58.5 58.5 58.7 57.8 57.5 56.9

51.6 51.6 51.6 51.5 51.4 51.2

50.6 50.1 49.8 49.2 49.0 48.6

73.6 72.9 72.5 71.8 71.4 70.7

71.3 70.6 70.2 69.4 68.8 68.4

1983 January ................ February ............... March ................... April ...................... May ...................... June .....................

53.2 52.9 53.4 54.0 54.4 54.7

49.2 49.2 49.7 50.2 50.9 51.3

61.9 61.2 61.5 62.7 63.0 63.2

39.5 39.4 40.0 40.8 41.7 42.4

73.4 72.3 72.4 73.8 73.7 73.6

39.8 39.6 40.1 40.1 40.6 40.9

110.1 108.4 108.7 107.7 107.8 107.1

59.1 58.7 59.5 60.3 61.4 62.5

51.8 51.8 52.6 53.2 53.2 53.5

49.7 49.5 50.0 50.6 51.0 51.3

72.0 71.5 72.1 72.9 73.4 73.8

70.0 69.9 70.5 71.3 72.2 72.7

July ....................... August .................. September ........... October ................ November ............ December ............

55.6 56.2 57.0 57.5 57.7 58.0

52.0 52.4 53.4 54.1 54.2 54.4

64.1 64.7 65.5 65.2 65.1 65.2

43.4 44.2 45.0 45.5 45.5 46.5

74.4 74.8 75.6 74.7 74.7 74.2

41.8 42.1 43.3 43.9 44.2 44.6

108.7 109.3 110.3 112.1 112.3 113.5

63.8 64.0 64.8 65.9 65.7 65.9

54.2 54.8 55.8 56.0 56.2 56.3

52.2 52.9 53.6 54.4 54.7 54.9

74.9 75.7 76.8 77.5 77.6 77.9

73.8 74.3 75.7 76.5 76.7 76.8

1984 January ................ February ............... March ................... April ...................... May ...................... June .....................

59.2 59.4 59.7 60.1 60.4 60.6

55.4 56.0 56.2 56.5 56.7 56.9

66.6 66.4 66.7 66.8 66.6 66.5

47.6 47.8 47.9 47.8 47.4 47.5

75.7 75.3 75.6 76.0 75.8 75.6

45.6 46.1 46.6 47.1 47.4 48.0

116.6 119.2 119.5 122.2 122.8 123.9

66.3 67.8 67.4 67.8 68.1 68.5

57.4 57.5 58.0 58.0 58.8 59.2

56.0 56.4 56.6 57.0 57.4 57.5

79.5 79.7 80.0 80.4 80.7 80.8

78.1 78.9 79.1 79.4 79.5 79.6

July ....................... August .................. September ........... October ................ November ............ December ............

60.8 60.9 60.8 60.7 60.9 61.0

57.2 57.3 57.2 57.4 57.6 57.8

66.5 66.1 66.0 66.5 66.7 67.0

48.1 48.4 47.7 47.3 48.1 48.6

75.3 74.5 74.7 75.7 75.6 75.8

48.6 49.3 49.5 49.9 50.3 50.6

122.6 126.6 129.3 130.6 130.0 131.8

68.3 68.6 68.9 68.5 68.4 69.2

59.4 59.4 59.4 59.7 59.9 59.5

57.7 57.6 57.4 56.9 57.1 56.9

80.9 80.9 80.6 80.3 80.5 80.4

79.8 79.8 79.4 79.5 79.6 79.6

1985 January ................ February ............... March ................... April ...................... May ...................... June .....................

60.8 61.1 61.2 61.1 61.1 61.2

57.6 57.4 57.9 57.7 57.8 57.9

66.6 67.1 67.0 66.7 66.7 67.0

48.0 47.6 48.1 47.5 47.5 47.5

75.5 76.5 76.1 75.9 76.0 76.5

50.4 50.1 50.6 50.1 50.2 50.3

132.4 134.0 136.2 136.9 137.7 139.6

67.9 68.1 69.9 69.9 70.2 70.6

59.6 60.2 60.1 60.5 60.6 60.3

57.0 57.2 57.1 57.1 57.1 57.0

79.9 80.1 80.0 79.7 79.6 79.4

79.1 78.6 79.0 78.6 78.5 78.4

July ....................... August .................. September ........... October ................ November ............ December ............

60.8 61.1 61.3 61.1 61.3 61.9

57.6 57.9 58.0 57.8 58.2 58.4

66.7 67.0 67.5 67.4 67.7 68.4

47.5 48.0 47.9 47.7 48.8 49.0

76.0 76.2 76.9 76.8 76.7 77.8

50.0 50.2 50.0 50.0 50.4 50.3

138.4 141.0 141.9 143.8 146.0 146.7

70.3 70.5 70.4 70.5 70.4 70.2

59.8 60.4 60.9 60.4 60.5 61.4

56.6 56.7 57.0 56.7 56.8 57.5

78.7 78.9 79.1 78.6 78.8 79.4

77.7 78.0 77.9 77.6 77.9 78.1

1986 January ................ February ............... March ................... April ...................... May ...................... June .....................

62.2 61.7 61.4 61.4 61.5 61.3

59.1 58.7 58.6 58.8 58.9 58.7

69.2 68.5 68.3 68.7 69.1 69.2

50.3 49.9 49.9 49.7 49.9 50.5

78.2 77.4 77.1 77.8 78.3 78.1

50.4 49.7 49.8 49.4 49.3 48.7

148.4 145.5 146.9 147.2 147.6 147.9

71.8 71.1 71.3 72.0 72.5 71.6

61.8 61.3 61.0 61.5 62.0 62.5

57.6 57.4 56.8 56.6 56.7 56.4

79.7 79.0 78.4 78.3 78.4 78.0

78.9 78.2 77.9 78.1 78.2 77.8

July ....................... August .................. September ........... October ................ November ............ December ............

61.7 61.6 61.7 61.9 62.2 62.8

59.0 59.2 59.3 59.5 59.8 60.3

69.6 69.6 69.6 70.0 70.5 71.1

51.1 51.3 51.7 51.8 52.4 53.4

78.5 78.2 78.1 78.5 78.9 79.4

49.1 49.2 49.1 48.9 49.0 49.5

149.2 149.0 148.5 148.7 149.7 149.7

72.1 72.8 72.9 72.8 73.0 73.5

62.5 62.6 62.7 63.2 63.2 64.1

56.8 56.5 56.7 57.0 57.3 57.8

78.4 78.2 78.3 78.5 78.8 79.3

78.1 78.2 78.3 78.4 78.7 79.2

1987 January ................ February ............... March ................... April ...................... May ...................... June .....................

62.6 63.4 63.5 63.8 64.3 64.6

60.1 61.0 61.0 61.3 61.8 62.0

70.4 71.3 71.5 71.4 71.9 72.0

53.1 53.9 53.6 53.3 53.6 53.1

78.5 79.3 79.8 79.9 80.5 81.0

49.6 50.8 50.5 50.9 51.4 51.9

151.1 151.0 151.0 150.9 150.6 150.1

74.2 75.5 75.2 75.6 76.2 76.3

63.6 64.1 64.5 65.2 66.0 66.3

57.7 58.3 58.5 59.0 59.3 59.6

79.0 79.8 79.8 80.1 80.6 80.8

78.9 79.8 79.7 79.9 80.4 80.5

July ....................... August .................. September ........... October ................ November ............ December ............

65.0 65.4 65.6 66.6 66.9 67.2

62.5 62.7 63.1 64.1 64.5 64.8

72.4 72.9 72.5 73.8 73.9 74.0

52.9 53.4 53.9 55.7 55.6 55.2

81.7 82.2 81.3 82.3 82.5 82.9

52.1 52.6 53.4 54.6 55.1 55.6

149.6 151.1 151.8 150.9 151.9 153.0

76.5 77.1 77.5 78.6 78.6 79.1

66.7 66.9 67.0 67.6 67.6 67.8

60.1 60.5 60.7 61.6 62.1 62.4

81.2 81.6 81.7 82.8 83.1 83.4

80.9 81.1 81.5 82.6 83.0 83.4

452

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1988 January ................ February ............... March ................... April ...................... May ...................... June .....................

67.2 67.5 67.6 68.0 67.9 68.1

64.7 64.8 65.0 65.5 65.4 65.5

74.4 74.7 74.7 75.1 74.9 74.9

55.0 54.9 55.5 56.7 56.8 57.0

83.5 84.1 83.8 83.7 83.3 83.2

55.6 55.7 56.2 56.7 56.9 57.4

157.1 153.8 152.9 151.0 151.0 149.6

77.9 78.4 78.8 78.5 78.7 78.1

68.0 68.5 68.4 68.5 68.0 68.2

62.2 62.4 62.7 63.0 63.1 63.3

83.4 83.6 83.7 84.1 84.0 84.2

83.2 83.2 83.4 84.0 83.9 84.0

July ....................... August .................. September ........... October ................ November ............ December ............

68.2 68.5 68.3 68.7 68.8 69.1

65.6 65.7 65.9 66.3 66.5 66.8

74.9 75.5 75.0 75.6 75.7 76.1

55.7 56.2 57.4 58.0 58.7 59.3

83.9 84.5 83.1 83.8 83.5 83.7

57.1 57.3 57.8 58.5 58.6 58.8

151.2 150.9 151.3 151.8 151.2 152.0

78.3 77.8 78.1 78.4 78.8 78.8

68.6 69.2 68.6 69.0 69.0 69.2

63.5 63.8 63.5 63.8 63.9 64.3

84.3 84.6 84.3 84.7 84.8 85.0

84.0 84.0 84.2 84.7 84.8 85.0

1989 January ................ February ............... March ................... April ...................... May ...................... June .....................

69.3 69.0 69.2 69.1 68.7 68.7

67.3 66.6 66.5 66.6 66.0 66.1

76.0 76.0 76.2 76.1 75.3 75.4

60.6 59.9 59.1 59.5 58.2 57.5

82.9 83.4 84.1 83.7 83.2 83.7

59.3 59.1 58.7 59.2 58.3 58.9

152.0 152.3 151.2 153.4 153.8 153.4

80.1 78.1 78.4 78.3 77.6 77.8

69.2 69.5 70.2 69.6 69.3 69.6

64.4 63.9 64.2 64.1 63.9 63.6

85.1 84.6 84.7 84.5 83.8 83.6

85.5 84.5 84.3 84.2 83.3 83.2

July ....................... August .................. September ........... October ................ November ............ December ............

68.0 68.7 68.5 68.4 68.6 69.1

65.4 66.0 65.8 65.7 65.8 65.9

73.7 74.9 74.7 74.9 75.1 76.5

55.6 57.7 57.7 56.6 57.0 57.6

82.2 82.9 82.5 83.4 83.6 85.3

58.5 59.5 59.3 58.3 58.8 60.2

154.0 155.0 154.1 148.7 146.8 149.3

77.8 77.7 77.5 77.8 77.7 76.9

69.0 69.3 69.5 69.6 70.0 70.4

63.3 63.6 63.4 63.5 63.7 63.5

82.7 83.3 82.8 82.6 82.7 83.1

82.1 82.7 82.2 81.9 81.9 81.8

1990 January ................ February ............... March ................... April ...................... May ...................... June .....................

68.7 69.3 69.6 69.6 69.6 69.8

65.8 66.7 67.0 66.9 66.9 67.1

74.7 75.6 76.2 76.0 75.8 76.6

54.3 57.8 58.8 57.6 58.0 58.8

84.4 83.9 84.2 84.5 84.1 84.9

59.9 60.6 61.0 61.0 61.4 61.4

149.6 149.5 148.3 147.7 145.8 145.1

78.6 78.8 78.8 78.1 77.5 77.7

70.9 70.7 71.2 71.3 71.6 71.4

63.4 64.0 64.2 64.4 64.4 64.5

82.4 82.9 83.2 83.0 82.9 82.9

81.5 82.4 82.6 82.3 82.1 82.2

July ....................... August .................. September ........... October ................ November ............ December ............

69.7 69.9 70.0 69.5 68.7 68.2

66.9 67.2 67.1 66.6 65.9 65.4

76.1 76.2 76.9 75.7 74.8 74.4

57.2 57.1 57.4 55.5 52.5 51.7

84.8 85.1 86.1 85.3 85.5 85.2

61.6 61.8 61.7 61.5 60.2 59.8

146.1 144.3 143.5 144.5 142.5 143.2

77.1 77.0 76.7 75.8 75.8 75.4

71.7 71.6 71.7 71.5 71.2 70.8

64.5 64.9 64.8 64.5 63.7 63.2

82.7 82.8 82.8 82.0 80.9 80.2

81.8 81.9 81.7 81.0 79.9 79.2

1991 January ................ February ............... March ................... April ...................... May ...................... June .....................

67.9 67.4 67.1 67.2 67.9 68.6

64.8 64.4 64.0 64.2 64.7 65.4

74.7 74.0 74.1 74.0 75.3 76.5

51.7 50.5 50.8 51.8 52.8 54.2

85.7 85.3 85.2 84.7 86.1 87.1

59.2 58.9 58.9 58.9 59.5 60.2

141.6 140.4 139.5 136.0 133.2 134.0

72.5 72.3 71.3 71.9 72.0 73.3

70.5 69.9 69.1 69.5 70.2 70.7

62.8 62.5 62.0 62.2 62.8 63.2

79.7 79.1 78.6 78.6 79.3 80.0

78.4 77.7 77.1 77.3 77.7 78.5

July ....................... August .................. September ........... October ................ November ............ December ............

68.6 68.7 69.3 69.2 69.1 68.9

65.6 65.8 66.4 66.3 66.2 66.1

76.1 76.1 77.2 77.0 77.0 76.1

55.1 54.4 56.6 56.4 56.4 56.0

85.9 86.4 87.0 86.7 86.7 85.5

60.1 60.2 60.9 60.3 60.3 60.5

132.6 133.7 133.2 133.9 133.1 131.6

73.0 73.8 74.2 73.4 74.0 74.0

70.2 70.7 71.0 70.8 70.9 70.9

63.7 63.7 64.1 64.2 64.0 64.0

79.9 79.9 80.5 80.2 80.0 79.7

78.6 78.7 79.4 79.1 78.9 78.7

1992 January ................ February ............... March ................... April ...................... May ...................... June .....................

68.5 69.0 69.5 70.0 70.3 70.3

65.8 66.3 66.9 67.2 67.7 67.9

75.3 76.1 76.8 77.5 78.0 77.6

53.7 55.8 57.0 58.1 59.9 59.2

85.6 85.6 86.1 86.6 86.4 86.2

59.4 60.8 61.0 61.6 62.2 62.4

130.3 129.0 128.5 126.1 125.4 125.4

74.2 74.8 75.2 75.8 76.4 76.0

70.8 70.8 71.3 71.8 72.0 71.9

64.0 64.3 64.8 65.2 65.3 65.5

79.1 79.5 80.0 80.4 80.6 80.5

78.1 78.6 79.2 79.4 79.8 79.8

July ....................... August .................. September ........... October ................ November ............ December ............

70.8 70.5 70.6 71.1 71.4 71.5

68.4 68.2 68.2 68.6 68.8 68.7

78.6 78.7 78.3 79.3 79.5 79.6

60.8 60.3 59.9 61.1 61.6 62.4

86.8 87.2 86.8 87.8 87.8 87.5

62.8 62.5 62.7 62.9 63.4 63.6

123.8 123.9 124.0 123.2 123.2 123.2

76.5 76.7 76.6 76.8 76.6 76.8

72.4 72.3 72.5 72.8 73.0 73.3

66.0 65.3 65.8 66.1 66.4 66.3

81.0 80.4 80.5 80.9 81.0 81.0

80.3 79.8 79.7 80.0 80.1 79.8

1993 January ................ February ............... March ................... April ...................... May ...................... June .....................

71.8 72.1 72.1 72.3 72.0 72.2

69.5 69.6 69.5 69.8 69.7 69.7

80.0 80.0 80.1 80.3 79.8 80.0

63.5 63.2 63.6 64.2 64.4 64.1

87.5 87.8 87.7 87.7 86.8 87.3

64.2 64.0 64.1 64.5 64.5 64.0

122.7 121.3 119.8 119.7 118.7 117.9

77.1 78.3 77.7 78.0 78.9 78.9

73.4 73.8 74.4 74.4 74.0 74.1

66.7 67.1 67.0 67.2 67.0 67.4

81.2 81.4 81.3 81.4 81.0 81.1

80.5 80.4 80.2 80.4 80.2 80.0

July ....................... August .................. September ........... October ................ November ............ December ............

72.5 72.5 72.8 73.3 73.6 74.0

69.9 69.9 70.3 70.9 71.2 71.6

80.8 80.8 81.0 81.4 81.6 81.8

64.1 63.7 65.0 66.7 67.3 67.8

88.4 88.7 88.4 88.2 88.0 88.1

63.9 63.6 64.4 65.4 65.7 66.0

118.8 117.1 117.6 117.1 116.5 115.5

79.3 79.6 80.0 80.8 81.5 82.5

74.3 74.4 74.7 74.8 74.9 75.4

67.4 67.5 67.8 68.3 68.8 69.3

81.2 81.1 81.4 81.8 82.0 82.3

80.1 79.9 80.3 80.7 80.9 81.2

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

453

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

1994 January ................ February ............... March ................... April ...................... May ...................... June .....................

74.4 74.4 75.1 75.5 76.0 76.5

71.8 71.8 72.7 73.3 73.9 74.1

82.5 82.7 83.3 83.4 84.0 84.7

69.1 69.1 69.7 70.4 70.8 71.6

88.6 88.8 89.5 89.2 89.9 90.7

66.4 65.7 66.6 67.1 67.3 67.7

114.0 112.3 113.4 113.4 112.0 110.6

82.2 81.6 83.1 84.2 85.0 85.1

75.9 75.9 76.4 76.7 76.9 77.5

69.4 69.7 70.4 70.9 71.4 71.9

82.5 82.3 83.0 83.2 83.5 83.8

81.3 81.1 82.0 82.4 82.8 82.8

July ....................... August .................. September ........... October ................ November ............ December ............

76.7 77.0 77.2 77.9 78.3 79.2

74.5 75.0 75.2 75.9 76.5 77.4

84.4 85.3 84.7 85.6 85.5 86.2

71.8 73.1 73.2 73.8 73.5 74.4

90.1 90.7 89.9 90.9 90.9 91.5

68.5 68.5 68.7 69.8 70.5 71.1

110.1 108.9 109.7 110.4 111.5 111.7

86.0 85.9 86.6 87.0 87.3 88.0

77.3 77.4 77.7 78.4 78.7 79.2

72.3 72.7 73.0 73.5 74.3 75.3

83.8 83.9 83.8 84.2 84.5 85.0

82.9 83.2 83.1 83.6 84.0 84.5

1995 January ................ February ............... March ................... April ...................... May ...................... June .....................

79.4 79.4 79.6 79.5 79.7 79.9

77.7 77.6 77.8 77.7 77.7 78.0

86.3 86.5 86.4 86.1 86.2 86.7

75.2 75.0 74.7 74.4 73.6 74.2

91.3 91.7 91.7 91.4 91.9 92.3

71.7 71.9 72.4 72.7 72.9 73.4

111.4 110.2 110.0 109.7 109.1 109.6

88.1 87.0 86.9 86.4 85.7 85.9

79.5 79.6 79.9 79.8 80.2 80.5

75.6 75.6 75.8 75.9 76.0 76.0

85.0 84.7 84.5 84.1 83.9 83.8

84.5 84.1 83.9 83.4 83.0 82.9

July ....................... August .................. September ........... October ................ November ............ December ............

79.6 80.7 81.0 80.9 81.1 81.4

77.5 78.5 79.1 79.1 79.2 79.5

86.3 87.8 87.9 87.2 87.5 87.8

72.8 75.5 76.5 75.6 75.7 76.3

92.4 93.2 92.9 92.3 92.7 92.9

73.2 74.8 75.6 75.3 75.6 76.5

108.5 108.4 107.0 106.5 104.2 103.7

85.8 86.5 87.9 87.7 87.7 88.5

80.4 81.4 81.3 81.6 82.0 81.9

75.6 76.5 76.9 77.0 77.3 77.5

83.1 83.9 83.8 83.3 83.2 83.2

82.0 82.6 82.9 82.4 82.1 82.0

1996 January ................ February ............... March ................... April ...................... May ...................... June .....................

80.7 82.0 81.8 82.5 83.1 83.8

78.7 79.9 79.6 80.6 81.1 82.0

86.6 88.1 87.5 88.4 88.5 89.4

73.9 76.1 73.6 77.5 77.9 79.7

92.3 93.4 93.7 93.3 93.3 93.7

75.9 77.8 77.4 78.5 79.2 80.2

101.7 104.9 104.8 104.5 104.6 103.9

86.7 87.9 89.0 89.5 90.3 91.8

81.4 82.3 82.3 82.3 83.2 83.4

77.2 78.1 78.1 78.8 79.6 80.2

82.1 83.0 82.5 82.9 83.1 83.5

80.8 81.6 81.0 81.5 81.7 82.1

July ....................... August .................. September ........... October ................ November ............ December ............

83.7 84.2 84.7 84.7 85.6 86.1

82.2 82.7 83.3 83.2 84.0 84.8

88.7 88.5 89.3 88.9 90.0 90.3

80.1 79.4 79.6 78.2 79.5 80.9

92.5 92.6 93.7 93.6 94.7 94.5

80.9 81.9 82.4 82.4 83.9 85.8

104.5 105.2 105.5 105.1 104.8 104.3

91.2 92.2 92.5 92.7 93.4 92.9

83.4 84.3 84.7 84.9 85.6 86.1

80.1 80.9 81.2 81.5 82.0 82.5

83.0 83.2 83.3 82.9 83.3 83.5

81.9 82.1 82.2 81.8 82.1 82.4

1997 January ................ February ............... March ................... April ...................... May ...................... June .....................

86.3 87.3 88.0 88.0 88.5 88.9

84.9 86.1 87.1 86.8 87.5 88.1

90.1 90.5 91.2 90.2 90.8 90.8

80.6 81.8 82.9 80.4 81.3 82.7

94.3 94.4 94.9 94.6 95.0 94.3

86.4 87.9 89.3 89.3 90.3 91.5

102.7 102.7 102.1 102.0 101.7 101.5

92.0 93.8 94.8 94.4 95.1 94.8

86.7 87.5 87.9 88.2 88.8 89.1

82.9 84.2 84.7 85.1 85.5 86.1

83.3 83.9 84.1 83.6 83.6 83.5

82.2 82.8 83.3 82.5 82.7 82.7

July ....................... August .................. September ........... October ................ November ............ December ............

89.3 90.4 91.3 92.0 92.8 93.2

88.4 89.8 90.6 91.2 92.3 92.7

90.8 92.2 93.0 94.2 94.5 94.1

80.5 84.1 85.2 85.4 87.6 87.5

95.4 95.7 96.4 98.1 97.5 97.0

91.6 94.3 94.6 95.7 97.9 98.9

101.6 102.0 102.0 102.1 101.8 103.6

95.0 95.6 96.1 96.6 97.1 98.2

89.8 90.0 91.2 92.1 92.5 92.8

86.7 87.6 88.6 88.8 89.9 90.4

83.5 84.0 84.3 84.3 84.6 84.4

82.4 83.1 83.3 83.3 83.6 83.4

1998 January ................ February ............... March ................... April ...................... May ...................... June .....................

93.6 93.7 93.7 94.2 94.7 94.2

93.4 93.5 93.3 93.9 94.3 93.7

94.6 94.3 94.6 95.2 95.5 94.4

88.0 87.8 88.1 88.6 89.0 84.6

97.4 97.2 97.4 98.0 98.3 98.6

100.1 100.1 99.9 100.4 101.2 102.0

104.3 104.7 104.0 103.7 105.0 105.2

98.7 99.1 98.5 99.0 100.2 99.9

92.6 92.9 93.6 93.9 94.6 94.8

90.7 90.9 90.8 91.2 91.7 91.1

84.2 83.7 83.3 83.1 83.1 82.2

83.4 82.9 82.2 82.1 81.9 80.9

July ....................... August .................. September ........... October ................ November ............ December ............

93.9 96.0 95.8 96.5 96.4 96.7

93.4 95.8 95.5 96.4 96.6 97.0

93.4 96.5 95.6 96.1 95.4 95.3

80.9 91.5 90.7 92.5 92.2 92.9

98.9 98.7 97.7 97.6 96.8 96.3

101.5 104.6 104.8 106.1 106.3 106.2

106.4 107.2 106.2 108.1 108.1 107.4

100.3 100.7 100.2 101.4 101.5 102.8

95.4 96.0 96.1 96.4 96.7 96.6

90.9 92.6 92.8 93.5 93.6 94.3

81.5 82.8 82.3 82.5 82.1 81.9

80.1 81.7 81.0 81.4 81.1 81.1

1999 January ................ February ............... March ................... April ...................... May ...................... June .....................

97.1 97.6 97.8 98.0 98.8 98.7

97.3 98.1 98.0 98.3 99.3 99.1

96.4 96.7 96.5 96.2 97.3 96.3

93.2 94.0 93.4 94.2 95.3 94.7

97.8 97.8 97.7 97.0 98.1 97.0

106.1 106.6 106.4 107.1 108.9 108.7

107.3 107.8 106.9 105.7 104.6 103.4

102.1 102.1 101.3 101.5 101.9 102.0

97.3 97.5 97.9 98.2 98.7 98.8

94.6 95.2 95.9 96.4 97.0 97.5

82.0 82.0 81.8 81.7 82.0 81.7

80.9 81.1 80.7 80.6 81.1 80.5

July ....................... August .................. September ........... October ................ November ............ December ............

99.4 99.9 99.4 100.7 101.3 102.2

99.6 100.3 99.8 101.4 102.1 103.0

96.0 97.3 96.5 98.2 98.1 99.2

94.9 97.2 95.8 98.6 97.6 97.6

96.4 97.3 96.7 98.1 98.4 99.8

109.7 109.7 109.1 109.8 109.9 110.8

103.1 103.0 100.1 100.2 98.1 96.7

102.6 102.6 102.7 103.9 104.6 105.5

99.6 99.7 99.7 100.7 101.4 102.2

98.8 98.9 98.7 100.0 101.2 102.1

81.9 82.0 81.3 82.1 82.2 82.6

80.6 80.8 80.1 80.9 81.2 81.5

454

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-1. Industrial Production and Capacity Utilization—Continued (Seasonally adjusted; 2002 = 100, except as noted.) Market groups Year and month

Total industry

Manufacturing (SIC)

Consumer goods Total

Durable

Nondurable

Business equipment

Capacity utilization (output as percentage of capacity)

Defense and Construction space supplies equipment

Business supplies

Materials

Total industry

Manufacturing (SIC)

2000 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.4 102.8 103.1 103.9 104.2 104.2

103.3 103.6 104.2 104.9 104.9 105.0

98.0 98.6 98.2 99.2 99.5 99.6

99.6 99.5 99.0 100.3 100.2 100.0

97.4 98.2 98.0 98.8 99.2 99.4

112.6 113.9 115.4 116.9 117.5 117.2

96.2 94.1 93.1 91.3 90.5 91.1

106.1 106.2 106.2 106.6 105.0 104.6

102.7 102.8 103.5 104.6 104.8 104.7

102.7 102.9 103.5 103.9 104.4 104.6

82.5 82.5 82.5 82.7 82.7 82.5

81.3 81.2 81.4 81.6 81.2 81.0

July ....................... August .................. September ........... October ................ November ............ December ............

103.9 103.6 104.0 103.7 103.6 103.2

105.0 104.3 104.7 104.4 104.0 103.3

98.9 98.7 99.8 98.7 99.0 99.5

97.6 98.3 99.4 97.5 95.2 93.6

99.5 98.9 100.0 99.2 100.5 101.8

117.7 116.8 117.8 118.3 118.2 117.0

93.0 90.9 86.7 91.1 94.1 94.3

105.2 104.5 104.6 104.2 103.8 102.5

104.7 104.4 104.1 103.8 104.0 103.6

104.1 103.9 104.1 103.9 103.5 102.7

82.0 81.4 81.5 80.9 80.7 80.1

80.6 79.8 79.8 79.2 78.7 77.8

2001 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.4 101.6 101.3 101.2 100.4 99.9

102.5 101.8 101.4 101.3 100.4 99.9

98.5 97.6 97.6 98.1 98.1 98.0

92.1 92.0 94.3 94.4 95.2 94.8

101.0 99.7 98.9 99.6 99.2 99.3

116.4 115.4 114.4 112.4 110.1 109.0

97.1 97.1 99.0 100.2 99.7 100.8

102.7 101.6 101.8 101.7 100.9 100.3

103.1 101.8 101.0 100.6 99.8 99.4

101.5 101.1 100.6 100.5 99.6 98.7

79.2 78.4 77.9 77.6 76.9 76.3

77.0 76.2 75.7 75.4 74.6 74.0

July ....................... August .................. September ........... October ................ November ............ December ............

99.5 99.2 98.8 98.3 97.9 97.9

99.6 99.0 98.7 98.1 97.9 98.2

97.9 97.8 97.3 97.5 97.6 98.1

95.7 94.2 93.7 92.4 94.2 96.1

98.8 99.1 98.7 99.5 98.9 99.0

108.1 106.0 104.2 102.7 101.8 100.8

102.2 101.1 101.3 101.3 101.0 100.7

100.3 99.3 99.3 98.1 97.9 99.0

99.4 99.0 99.0 98.4 97.7 98.1

98.2 98.3 98.1 97.6 96.9 96.7

75.9 75.4 75.0 74.5 74.0 73.9

73.7 73.1 72.7 72.2 72.0 72.1

2002 January ................ February ............... March ................... April ...................... May ...................... June .....................

98.6 98.4 99.3 99.7 100.1 101.0

98.7 98.6 99.4 99.5 100.0 101.0

99.1 98.4 99.5 99.5 99.7 101.0

96.6 96.8 97.7 98.9 99.5 100.9

100.1 99.0 100.2 99.7 99.8 101.1

100.8 100.4 100.7 99.7 100.1 100.6

99.8 99.7 99.1 98.9 98.7 99.5

98.9 99.4 100.5 100.3 100.8 101.2

97.9 97.9 99.1 99.8 100.3 100.9

97.6 98.0 98.8 99.9 100.2 101.2

74.3 74.1 74.7 74.9 75.2 75.8

72.5 72.3 72.9 73.0 73.3 74.0

July ....................... August .................. September ........... October ................ November ............ December ............

100.7 100.7 100.7 100.3 100.5 100.1

100.6 100.8 100.8 100.2 100.4 100.0

100.6 100.4 100.6 100.2 101.0 100.1

101.4 101.4 101.7 100.4 103.0 101.7

100.3 100.0 100.2 100.1 100.1 99.4

99.7 100.3 99.6 99.4 99.6 99.2

99.0 99.6 100.3 101.2 100.6 103.6

99.6 100.2 100.5 99.9 99.6 99.0

100.8 100.8 100.9 101.1 100.4 100.0

101.1 101.2 101.0 100.3 100.6 100.3

75.6 75.6 75.6 75.3 75.5 75.2

73.7 73.9 73.9 73.4 73.6 73.3

2003 January ................ February ............... March ................... April ...................... May ...................... June .....................

100.5 100.6 100.4 99.6 99.5 99.8

100.3 100.1 100.3 99.5 99.4 99.9

100.5 100.9 101.0 100.3 100.0 100.5

103.8 101.8 101.9 101.6 101.5 103.2

99.2 100.6 100.7 99.8 99.4 99.4

99.0 99.4 99.7 98.3 98.2 98.8

103.7 104.1 103.4 103.1 103.5 103.9

99.1 98.1 97.8 96.9 98.1 98.8

101.4 101.0 101.2 99.8 100.1 99.8

100.8 100.5 100.0 99.5 99.3 99.4

75.5 75.6 75.4 74.9 74.9 75.1

73.5 73.4 73.5 72.9 72.8 73.2

July ....................... August .................. September ........... October ................ November ............ December ............

100.3 100.4 101.0 101.1 102.0 102.3

100.2 100.1 101.0 101.1 102.3 102.3

101.3 100.9 101.8 101.1 102.0 102.2

105.1 103.7 107.3 105.3 106.5 106.5

99.7 99.8 99.6 99.4 100.2 100.4

99.1 100.3 100.9 100.9 102.8 102.9

104.5 105.4 106.2 107.1 107.8 107.2

98.4 99.3 99.2 100.2 101.6 102.0

100.3 100.3 100.3 100.7 101.7 101.7

99.8 99.8 100.6 101.1 101.7 102.1

75.4 75.5 76.0 76.1 76.8 76.9

73.4 73.4 74.0 74.1 75.0 75.1

2004 January ................ February ............... March ................... April ...................... May ...................... June .....................

102.7 103.5 103.2 104.0 105.0 104.4

102.6 103.6 103.7 104.6 105.5 104.9

102.7 103.4 102.5 103.2 103.8 102.4

108.2 107.9 107.2 107.9 107.1 105.1

100.5 101.5 100.6 101.3 102.5 101.3

103.7 105.3 105.7 107.2 108.3 108.8

106.4 108.6 109.5 110.9 112.1 112.0

102.4 102.3 102.7 103.5 104.9 104.6

101.7 102.8 102.2 103.2 104.1 103.8

102.5 103.2 103.1 103.8 104.9 104.5

77.2 77.8 77.6 78.1 78.8 78.4

75.3 76.0 76.1 76.7 77.3 76.9

July ....................... August .................. September ........... October ................ November ............ December ............

105.0 105.3 105.1 105.8 106.0 106.7

105.7 106.4 106.0 106.9 106.9 107.5

102.3 103.2 102.6 103.6 103.7 104.1

105.0 107.2 105.4 107.7 107.3 107.3

101.2 101.7 101.4 101.9 102.2 102.9

111.3 110.9 111.3 112.6 112.9 114.1

114.2 114.6 116.1 116.7 117.6 119.0

105.7 105.7 104.9 106.1 105.7 106.1

104.3 104.5 104.2 104.7 105.0 106.2

105.1 105.2 105.1 105.6 105.9 106.5

78.8 79.0 78.7 79.2 79.3 79.7

77.4 77.9 77.5 78.1 78.0 78.3

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

455

Table 20-2. Summary Consumer and Producer Price Indexes (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1947 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

21.5 21.6 22.0 22.0 22.0 22.1

... ... ... ... ... ...

22.8 23.1 23.8 23.5 23.4 23.5

... ... ... ... ... ...

17.9 17.9 18.1 18.3 18.3 18.4

13.2 13.3 13.3 13.4 13.5 13.5

... ... ... 26.0 26.1 26.2

... ... ... ... ... ...

... ... ... 23.1 23.0 23.2

... ... ... ... ... ...

... ... ... 30.7 30.4 30.6

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

22.2 22.4 22.8 22.9 23.1 23.4

... ... ... ... ... ...

23.8 24.1 24.8 24.9 25.2 25.7

... ... ... ... ... ...

18.5 18.5 18.7 18.8 19.0 19.1

13.5 13.6 13.7 13.8 13.8 13.9

26.2 26.3 26.7 26.8 27.1 27.7

... ... ... ... ... ...

23.2 23.3 23.7 24.0 24.3 24.5

... ... ... ... ... ...

31.0 31.6 32.4 33.7 33.9 35.3

... ... ... ... ... ...

1948 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

23.7 23.7 23.5 23.8 24.0 24.2

... ... ... ... ... ...

26.1 25.9 25.3 26.0 26.3 26.5

... ... ... ... ... ...

19.6 19.5 19.6 19.9 19.9 20.0

14.0 14.0 14.1 14.3 14.3 14.4

28.1 27.9 28.0 28.1 28.4 28.6

... ... ... ... ... ...

25.0 24.7 24.8 25.1 25.1 25.4

... ... ... ... ... ...

36.2 34.4 33.5 34.2 35.3 36.2

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

24.4 24.4 24.4 24.3 24.2 24.0

... ... ... ... ... ...

26.7 26.5 26.3 26.1 25.7 25.5

... ... ... ... ... ...

21.0 21.3 21.4 21.5 21.6 21.6

14.5 14.6 14.5 14.6 14.7 14.7

28.8 28.9 28.8 28.7 28.5 28.5

... ... ... ... ... ...

25.4 25.5 25.5 25.5 25.4 25.2

... ... ... ... ... ...

36.1 35.5 34.9 33.8 33.5 33.0

... ... ... ... ... ...

1949 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

24.0 23.9 23.9 23.9 23.9 23.9

... ... ... ... ... ...

25.4 25.3 25.3 25.3 25.2 25.3

... ... ... ... ... ...

21.6 21.8 21.9 22.0 22.2 22.1

14.7 14.8 14.8 14.8 14.8 14.8

28.3 28.0 28.0 27.9 27.8 27.7

... ... ... ... ... ...

25.2 24.8 24.7 24.5 24.3 24.1

... ... ... ... ... ...

32.0 30.9 30.8 30.2 30.1 29.7

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

23.7 23.7 23.8 23.7 23.7 23.6

... ... ... ... ... ...

24.8 24.8 25.0 24.8 24.8 24.5

... ... ... ... ... ...

22.2 22.3 22.2 22.3 22.3 22.5

14.8 14.9 14.9 14.9 14.9 14.9

27.5 27.4 27.4 27.3 27.2 27.2

... ... ... ... ... ...

24.1 23.9 23.9 23.8 23.7 23.8

... ... ... ... ... ...

29.2 29.2 29.5 29.5 29.6 29.6

... ... ... ... ... ...

1950 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

23.5 23.6 23.6 23.6 23.8 23.9

... ... ... ... ... ...

24.3 24.7 24.6 24.6 24.8 25.1

... ... ... ... ... ...

22.4 22.4 22.4 22.4 22.5 22.5

14.9 15.0 14.9 15.0 15.0 15.0

27.2 27.2 27.3 27.3 27.5 27.6

... ... ... ... ... ...

23.8 23.9 24.1 24.2 24.6 24.7

... ... ... ... ... ...

29.6 30.5 30.3 30.5 31.6 32.1

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

24.1 24.2 24.3 24.5 24.6 25.0

... ... ... ... ... ...

25.6 25.8 25.8 26.0 26.1 26.9

... ... ... ... ... ...

22.7 22.9 22.9 22.9 23.0 23.2

15.1 15.1 15.2 15.3 15.3 15.4

28.0 28.6 28.9 29.0 29.4 30.0

... ... ... ... ... ...

25.3 25.6 26.2 26.7 26.9 27.8

... ... ... ... ... ...

33.3 34.0 34.5 34.5 35.4 36.7

... ... ... ... ... ...

1951 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

25.4 25.8 25.9 25.9 26.0 25.9

... ... ... ... ... ...

27.6 28.5 28.4 28.2 28.3 28.0

... ... ... ... ... ...

23.3 23.6 23.8 23.9 24.0 24.1

15.4 15.5 15.7 15.7 15.8 15.8

30.5 30.8 30.9 30.9 31.1 31.0

... ... ... ... ... ...

28.5 28.7 28.8 28.8 28.8 28.7

... ... ... ... ... ...

38.2 39.6 39.1 39.1 38.4 38.1

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

25.9 25.9 26.0 26.2 26.3 26.5

... ... ... ... ... ...

27.9 27.8 27.9 28.4 28.6 28.9

... ... ... ... ... ...

24.1 24.2 24.4 24.5 24.8 24.9

15.8 15.9 15.9 16.0 16.1 16.3

30.8 30.7 30.6 30.8 30.9 30.9

... ... ... ... ... ...

28.4 28.0 28.0 27.9 27.9 27.8

... ... ... ... ... ...

36.8 36.2 35.9 36.7 36.4 36.6

... ... ... ... ... ...

1952 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

26.4 26.4 26.4 26.5 26.5 26.5

... ... ... ... ... ...

28.9 28.6 28.5 28.7 28.7 28.6

... ... ... ... ... ...

25.0 25.2 25.3 25.5 25.6 25.8

16.3 16.4 16.5 16.5 16.5 16.8

30.8 30.7 30.9 30.7 30.7 30.7

... ... ... ... ... ...

27.8 27.7 27.6 27.5 27.5 27.6

... ... ... ... ... ...

35.8 35.5 35.0 34.9 34.8 34.6

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

26.7 26.7 26.6 26.7 26.7 26.7

... ... ... ... ... ...

28.9 28.9 28.7 28.8 28.8 28.6

... ... ... ... ... ...

26.0 25.9 26.0 26.1 26.2 26.2

16.9 16.9 16.9 16.9 16.9 17.0

30.8 30.7 30.6 30.5 30.4 30.2

... ... ... ... ... ...

27.5 27.6 27.6 27.5 27.4 27.3

... ... ... ... ... ...

34.6 34.7 33.8 33.8 33.7 32.9

... ... ... ... ... ...

. . . = Not available.

456

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1953 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

26.6 26.6 26.6 26.7 26.7 26.8

... ... ... ... ... ...

28.4 28.3 28.3 28.1 28.2 28.4

... ... ... ... ... ...

26.3 26.2 26.3 26.4 26.4 26.5

17.0 17.0 17.0 17.1 17.2 17.3

30.3 30.2 30.3 30.2 30.3 30.4

... ... ... ... ... ...

27.4 27.4 27.5 27.5 27.6 27.7

... ... ... ... ... ...

32.5 32.4 32.4 31.6 31.8 31.4

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

26.8 26.8 26.9 27.0 26.8 26.9

... ... ... ... ... ...

28.2 28.3 28.4 28.4 28.1 28.3

... ... ... ... ... ...

26.6 26.7 26.7 26.6 26.3 26.2

17.3 17.4 17.5 17.5 17.6 17.6

30.5 30.4 30.4 30.4 30.3 30.4

... ... ... ... ... ...

28.0 27.9 27.9 27.9 27.8 27.8

... ... ... ... ... ...

32.3 31.8 32.0 31.4 31.2 31.7

... ... ... ... ... ...

1954 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

26.9 27.0 26.9 26.9 26.9 26.9

... ... ... ... ... ...

28.5 28.5 28.4 28.4 28.4 28.4

... ... ... ... ... ...

26.5 26.3 26.3 26.4 26.4 26.4

17.6 17.7 17.7 17.8 17.8 17.8

30.5 30.4 30.4 30.6 30.6 30.4

... ... ... ... ... ...

27.9 27.9 27.9 27.9 27.9 27.8

... ... ... ... ... ...

32.0 32.0 32.1 32.2 32.1 31.5

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

26.9 26.8 26.8 26.7 26.8 26.8

... ... ... ... ... ...

28.4 28.3 28.0 27.9 27.9 27.8

... ... ... ... ... ...

26.0 25.9 25.9 25.4 25.8 25.8

17.8 17.9 17.9 17.9 18.0 18.0

30.5 30.4 30.3 30.2 30.3 30.3

... ... ... ... ... ...

27.9 27.9 27.8 27.8 27.9 27.9

... ... ... ... ... ...

31.4 31.3 31.5 31.2 31.4 30.8

... ... ... ... ... ...

1955 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

26.8 26.8 26.8 26.8 26.8 26.7

... ... ... ... ... ...

27.8 28.0 28.0 28.0 27.9 27.7

... ... ... ... ... ...

25.9 25.9 25.9 25.6 25.7 25.8

18.0 18.1 18.1 18.1 18.2 18.2

30.4 30.5 30.3 30.4 30.4 30.5

... ... ... ... ... ...

27.9 28.0 28.0 28.1 28.1 28.2

... ... ... ... ... ...

31.1 31.0 30.7 31.0 30.2 30.7

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

26.8 26.7 26.8 26.8 26.9 26.9

... ... ... ... ... ...

27.7 27.6 27.8 27.7 27.6 27.6

... ... ... ... ... ...

25.7 25.6 25.7 25.8 26.0 25.8

18.2 18.3 18.3 18.4 18.5 18.6

30.4 30.4 30.5 30.6 30.6 30.7

... ... ... ... ... ...

28.4 28.5 28.8 28.9 28.9 29.0

... ... ... ... ... ...

30.4 30.1 30.4 30.4 29.4 29.5

... ... ... ... ... ...

1956 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

26.8 26.9 26.9 26.9 27.0 27.2

... ... ... ... ... ...

27.5 27.5 27.5 27.6 27.8 28.1

... ... ... ... ... ...

25.8 25.8 25.8 25.8 26.0 26.0

18.6 18.7 18.7 18.8 18.8 18.8

30.7 30.8 30.9 31.0 31.2 31.4

... ... ... ... ... ...

29.1 29.2 29.4 29.5 29.6 29.6

... ... ... ... ... ...

29.4 29.9 29.8 30.3 30.7 30.5

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

27.3 27.3 27.4 27.5 27.5 27.6

... ... ... ... ... ...

28.4 28.2 28.2 28.3 28.4 28.5

... ... ... ... ... ...

26.2 26.3 26.4 27.0 26.9 27.0

18.9 19.0 19.1 19.1 19.1 19.2

31.3 31.4 31.6 31.8 31.9 31.9

... ... ... ... ... ...

29.4 29.7 29.8 30.0 30.0 30.1

... ... ... ... ... ...

30.5 31.0 31.0 31.0 31.1 31.7

... ... ... ... ... ...

1957 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

27.7 27.8 27.9 27.9 28.0 28.1

28.5 28.6 28.7 28.8 28.8 28.9

28.4 28.7 28.6 28.6 28.7 28.9

21.3 21.4 21.5 21.6 21.6 21.6

27.2 27.4 27.5 27.7 27.6 27.7

19.3 19.3 19.4 19.5 19.6 19.7

32.1 32.2 32.1 32.3 32.3 32.5

... ... ... ... ... ...

30.3 30.3 30.3 30.2 30.2 30.3

... ... ... ... ... ...

31.3 31.0 30.9 30.8 30.7 31.5

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

28.2 28.3 28.3 28.3 28.4 28.5

29.0 29.0 29.1 29.2 29.3 29.3

29.1 29.4 29.2 29.2 29.2 29.2

21.5 21.4 21.4 21.4 21.5 21.5

27.8 27.8 27.9 27.5 28.3 28.1

19.7 19.8 19.8 19.9 20.0 20.1

32.6 32.6 32.6 32.7 32.9 33.0

... ... ... ... ... ...

30.3 30.4 30.4 30.3 30.4 30.4

... ... ... ... ... ...

32.0 32.0 31.2 31.0 31.1 31.5

... ... ... ... ... ...

1958 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

28.6 28.7 28.9 28.9 28.9 28.9

29.3 29.4 29.5 29.5 29.5 29.6

29.8 29.9 30.5 30.6 30.5 30.3

21.6 21.3 21.4 21.4 21.5 21.5

28.1 28.2 28.3 28.3 28.4 28.4

20.2 20.2 20.3 20.4 20.5 20.6

33.2 33.2 33.4 33.2 33.2 33.3

... ... ... ... ... ...

30.4 30.3 30.3 30.2 30.3 30.3

... ... ... ... ... ...

31.4 31.9 32.3 31.8 32.4 32.0

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

28.9 28.9 28.9 28.9 29.0 29.0

29.6 29.6 29.7 29.7 29.8 29.9

30.2 30.1 30.0 30.0 30.0 29.9

21.6 21.7 21.7 21.7 21.4 21.4

28.7 28.8 28.9 28.9 29.1 29.2

20.7 20.7 20.9 21.0 21.0 21.1

33.2 33.2 33.2 33.2 33.2 33.1

... ... ... ... ... ...

30.3 30.4 30.4 30.4 30.5 30.6

... ... ... ... ... ...

32.1 31.9 31.6 31.9 32.1 31.6

... ... ... ... ... ...

. . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

457

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1959 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

29.0 29.0 29.0 29.0 29.0 29.1

29.9 29.9 30.0 30.0 30.1 30.2

30.0 29.8 29.7 29.5 29.5 29.7

21.4 21.6 21.7 21.8 21.8 21.9

29.3 29.4 29.6 29.7 29.7 29.8

21.1 21.2 21.3 21.3 21.4 21.5

33.1 33.2 33.2 33.2 33.3 33.2

... ... ... ... ... ...

30.6 30.7 30.7 30.7 30.9 30.9

... ... ... ... ... ...

31.6 31.4 31.5 31.7 31.5 31.3

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

29.2 29.2 29.2 29.4 29.4 29.4

30.2 30.2 30.3 30.4 30.4 30.5

29.6 29.6 29.7 29.7 29.7 29.6

21.8 21.9 21.9 22.2 22.2 22.3

29.9 29.9 30.0 30.1 30.1 30.1

21.5 21.6 21.7 21.7 21.8 21.8

33.1 33.0 33.4 33.1 33.0 33.0

... ... ... ... ... ...

30.8 30.8 30.8 30.8 30.9 30.9

... ... ... ... ... ...

31.0 30.7 30.9 30.7 30.5 30.3

... ... ... ... ... ...

1960 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

29.4 29.4 29.4 29.5 29.6 29.6

30.5 30.6 30.6 30.6 30.6 30.7

29.6 29.5 29.6 30.0 30.0 30.0

22.3 22.2 22.3 22.4 22.3 22.4

30.0 30.0 29.9 29.9 29.8 29.8

21.9 22.0 22.1 22.2 22.2 22.2

33.1 33.1 33.4 33.4 33.4 33.4

... ... ... ... ... ...

30.8 30.9 30.9 30.8 30.8 30.9

... ... ... ... ... ...

30.4 30.4 30.7 30.8 30.8 30.4

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

29.6 29.6 29.6 29.8 29.8 29.8

30.6 30.6 30.6 30.8 30.8 30.7

29.9 30.0 30.1 30.3 30.5 30.5

22.5 22.5 22.6 22.5 22.7 22.6

29.8 29.8 29.6 29.6 29.6 29.7

22.3 22.3 22.4 22.4 22.5 22.6

33.5 33.4 33.4 33.7 33.7 33.6

... ... ... ... ... ...

30.8 30.8 30.8 30.8 30.7 30.7

... ... ... ... ... ...

30.4 29.8 30.0 30.2 30.2 30.3

... ... ... ... ... ...

1961 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

29.8 29.8 29.8 29.8 29.8 29.8

30.8 30.8 30.9 30.9 30.9 31.0

30.5 30.5 30.5 30.4 30.3 30.2

22.7 22.6 22.6 22.2 22.4 22.5

29.7 29.8 29.8 29.8 30.0 30.1

22.6 22.7 22.7 22.8 22.8 22.9

33.6 33.7 33.6 33.4 33.3 33.3

... ... ... ... ... ...

30.6 30.7 30.8 30.7 30.6 30.5

... ... ... ... ... ...

30.4 30.5 30.3 30.2 29.9 29.5

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

29.9 29.9 30.0 30.0 30.0 30.0

31.0 31.1 31.1 31.1 31.2 31.2

30.3 30.3 30.3 30.3 30.3 30.3

22.5 22.5 22.6 22.4 22.5 22.4

30.3 30.4 30.5 30.5 30.4 30.3

22.9 23.0 23.1 23.1 23.1 23.2

33.3 33.4 33.3 33.3 33.4 33.4

... ... ... ... ... ...

30.5 30.5 30.5 30.4 30.5 30.6

... ... ... ... ... ...

29.7 30.5 30.3 30.3 30.2 30.6

... ... ... ... ... ...

1962 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

30.0 30.1 30.2 30.2 30.2 30.2

31.2 31.2 31.3 31.3 31.4 31.4

30.4 30.5 30.6 30.7 30.6 30.5

22.4 22.6 22.4 22.7 22.7 22.5

30.4 30.5 30.5 30.9 30.9 30.9

23.2 23.3 23.4 23.4 23.5 23.5

33.5 33.6 33.5 33.5 33.4 33.4

... ... ... ... ... ...

30.5 30.6 30.6 30.6 30.6 30.6

... ... ... ... ... ...

30.6 30.5 30.5 30.1 30.1 29.9

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

30.2 30.3 30.4 30.4 30.4 30.4

31.4 31.5 31.5 31.5 31.5 31.6

30.4 30.6 30.9 30.8 30.9 30.7

22.3 22.4 22.8 22.7 22.7 22.8

30.6 30.8 31.0 30.9 30.9 30.9

23.6 23.6 23.6 23.7 23.7 23.8

33.4 33.5 33.8 33.6 33.6 33.5

... ... ... ... ... ...

30.6 30.6 30.6 30.5 30.5 30.5

... ... ... ... ... ...

30.2 30.5 31.2 30.8 31.0 30.6

... ... ... ... ... ...

1963 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

30.4 30.5 30.5 30.5 30.5 30.6

31.5 31.6 31.7 31.7 31.7 31.8

31.0 31.1 31.0 30.9 30.9 31.0

22.8 22.7 22.7 22.6 22.6 22.5

30.6 30.7 30.8 30.8 30.9 30.9

23.9 23.9 23.9 23.9 24.0 24.1

33.4 33.4 33.3 33.3 33.4 33.5

... ... ... ... ... ...

30.5 30.5 30.5 30.5 30.7 30.7

... ... ... ... ... ...

30.3 30.0 29.6 29.8 29.6 29.9

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

30.7 30.8 30.7 30.8 30.8 30.9

31.8 31.9 31.9 32.0 32.0 32.1

31.2 31.2 31.1 31.0 31.2 31.3

22.7 22.6 22.5 22.7 22.6 22.6

30.9 31.0 31.0 31.2 31.1 31.2

24.1 24.2 24.2 24.2 24.3 24.3

33.4 33.4 33.4 33.5 33.5 33.4

... ... ... ... ... ...

30.7 30.7 30.7 30.8 30.8 30.8

... ... ... ... ... ...

30.0 29.9 29.8 29.9 30.2 29.4

... ... ... ... ... ...

1964 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

30.9 30.9 30.9 31.0 31.0 31.0

32.2 32.2 32.2 32.2 32.2 32.3

31.4 31.4 31.4 31.4 31.4 31.4

22.8 22.2 22.6 22.5 22.5 22.6

31.4 31.3 31.4 31.3 31.3 31.4

24.4 24.4 24.4 24.5 24.5 24.6

33.5 33.5 33.4 33.5 33.5 33.5

... ... ... ... ... ...

30.8 30.8 30.8 30.8 30.7 30.6

... ... ... ... ... ...

29.8 29.4 29.5 29.5 29.4 29.0

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

31.0 31.0 31.1 31.1 31.2 31.2

32.3 32.3 32.3 32.4 32.5 32.5

31.5 31.4 31.6 31.6 31.7 31.7

22.5 22.6 22.5 22.5 22.5 22.6

31.3 31.4 31.3 31.3 31.4 31.7

24.6 24.7 24.7 24.7 24.8 24.8

33.5 33.6 33.6 33.6 33.6 33.6

... ... ... ... ... ...

30.7 30.6 30.7 30.8 30.8 30.9

... ... ... ... ... ...

29.2 29.4 30.1 29.8 29.9 29.8

... ... ... ... ... ...

. . . = Not available.

458

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1965 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

31.3 31.3 31.3 31.4 31.5 31.6

32.6 32.6 32.6 32.7 32.7 32.7

31.6 31.5 31.7 31.8 32.1 32.6

22.8 22.7 22.6 22.9 23.0 23.1

31.9 31.8 31.8 31.9 32.0 31.9

24.8 24.9 25.0 25.0 25.1 25.1

33.6 33.7 33.7 34.0 34.1 34.2

... ... ... ... ... ...

30.9 30.9 31.0 31.1 31.1 31.2

... ... ... ... ... ...

29.5 29.9 30.0 30.4 30.8 31.6

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

31.6 31.6 31.6 31.6 31.8 31.8

32.7 32.7 32.8 32.8 32.9 33.0

32.5 32.4 32.3 32.5 32.6 32.8

23.0 23.0 23.1 23.0 23.1 23.1

31.9 31.9 31.9 31.8 31.9 32.0

25.3 25.3 25.3 25.4 25.5 25.5

34.1 34.2 34.3 34.4 34.5 34.7

... ... ... ... ... ...

31.2 31.3 31.3 31.3 31.4 31.4

... ... ... ... ... ...

31.2 31.5 31.4 31.8 32.1 32.7

... ... ... ... ... ...

1966 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

31.9 32.1 32.2 32.3 32.4 32.4

33.0 33.1 33.1 33.3 33.4 33.5

33.0 33.5 33.8 33.8 33.7 33.7

23.1 23.2 23.2 23.2 23.2 23.3

31.9 32.0 32.1 32.2 32.1 32.2

25.6 25.6 25.8 25.9 26.0 26.1

34.7 35.0 35.0 35.1 35.1 34.9

... ... ... ... ... ...

31.4 31.6 31.7 31.8 32.0 32.0

... ... ... ... ... ...

33.1 33.7 33.5 33.3 33.0 33.0

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

32.4 32.6 32.8 32.8 32.9 32.9

33.6 33.7 33.8 34.0 34.0 34.1

33.5 34.0 34.1 34.2 34.1 34.0

23.4 23.3 23.4 23.4 23.5 23.5

32.5 32.6 32.6 32.7 32.8 32.6

26.3 26.4 26.7 26.9 27.1 27.2

35.1 35.4 35.6 35.5 35.5 35.4

... ... ... ... ... ...

32.2 32.3 32.2 32.1 32.2 32.2

... ... ... ... ... ...

33.4 33.5 33.4 32.9 32.3 32.1

... ... ... ... ... ...

1967 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

32.9 33.0 33.0 33.1 33.1 33.3

34.2 34.2 34.3 34.4 34.5 34.6

33.9 33.8 33.8 33.7 33.7 34.0

23.6 23.7 23.6 23.9 23.9 23.8

32.6 32.8 32.8 33.0 33.1 33.1

27.4 27.5 27.6 27.8 27.9 28.1

35.4 35.3 35.3 35.3 35.4 35.7

... ... ... ... ... ...

32.2 32.1 32.1 32.1 32.1 32.2

... ... ... ... ... ...

32.2 31.5 31.1 30.7 31.1 31.4

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

33.4 33.5 33.6 33.7 33.9 34.0

34.7 34.9 35.0 35.1 35.2 35.4

34.1 34.3 34.3 34.4 34.5 34.6

23.8 23.9 24.0 23.9 24.0 23.9

33.3 33.4 33.7 33.6 33.9 33.9

28.2 28.3 28.5 28.7 28.8 29.0

35.7 35.8 35.8 35.9 35.9 36.0

... ... ... ... ... ...

32.2 32.2 32.3 32.3 32.4 32.6

... ... ... ... ... ...

31.3 31.3 31.2 31.3 31.1 31.5

... ... ... ... ... ...

1968 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

34.1 34.2 34.3 34.4 34.5 34.7

35.5 35.7 35.8 35.9 36.0 36.2

34.6 34.8 34.9 35.0 35.1 35.2

24.0 24.1 24.1 24.0 24.1 24.2

34.1 34.2 34.2 34.1 34.1 34.3

29.1 29.2 29.4 29.5 29.6 29.7

36.1 36.2 36.3 36.5 36.5 36.6

... ... ... ... ... ...

32.6 32.7 32.8 32.8 32.8 32.9

... ... ... ... ... ...

31.4 31.5 31.6 31.7 31.5 31.3

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

34.9 35.0 35.1 35.3 35.4 35.6

36.4 36.5 36.7 36.9 37.1 37.2

35.3 35.4 35.6 35.9 35.9 36.0

24.2 24.3 24.3 24.3 24.4 24.3

34.3 34.4 34.4 34.5 34.7 34.5

29.9 30.0 30.2 30.4 30.6 30.8

36.7 36.8 37.0 37.0 37.1 37.1

... ... ... ... ... ...

33.0 33.0 33.1 33.2 33.2 33.4

... ... ... ... ... ...

31.6 31.7 31.9 32.1 32.8 32.4

... ... ... ... ... ...

1969 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

35.7 35.8 36.1 36.3 36.4 36.6

37.3 37.6 37.8 38.1 38.1 38.3

36.1 36.1 36.2 36.4 36.6 37.0

24.4 24.4 24.7 24.9 24.8 25.0

34.7 35.2 35.8 35.8 35.5 35.6

30.9 31.2 31.4 31.6 31.8 31.9

37.2 37.2 37.4 37.6 37.8 38.0

... ... ... ... ... ...

33.6 33.7 33.9 33.8 33.9 34.0

... ... ... ... ... ...

32.6 32.3 32.7 33.1 34.0 34.5

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

36.8 36.9 37.1 37.3 37.5 37.7

38.5 38.7 38.9 39.1 39.2 39.4

37.3 37.5 37.7 37.8 38.2 38.6

24.9 24.9 25.0 25.0 25.0 25.1

35.6 35.7 35.6 35.9 36.0 36.2

32.1 32.2 32.5 32.3 32.5 32.6

38.1 38.2 38.3 38.5 38.8 38.9

... ... ... ... ... ...

34.0 34.2 34.2 34.4 34.6 34.7

... ... ... ... ... ...

34.1 34.4 34.4 34.8 35.2 35.1

... ... ... ... ... ...

1970 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

37.9 38.1 38.3 38.5 38.6 38.8

39.6 39.8 40.1 40.4 40.5 40.8

38.7 38.9 38.9 39.0 39.2 39.2

25.1 25.1 25.0 25.5 25.4 25.3

36.6 36.7 36.6 37.1 37.2 37.4

32.8 33.0 33.2 33.5 33.7 33.9

39.1 39.0 39.1 39.1 39.1 39.2

... ... ... ... ... ...

35.0 35.0 34.9 35.1 35.2 35.3

... ... ... ... ... ...

35.1 35.2 35.6 35.5 35.0 35.0

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

38.9 39.0 39.2 39.4 39.6 39.8

40.9 41.1 41.3 41.5 41.8 42.0

39.2 39.2 39.4 39.5 39.5 39.5

25.5 25.4 25.6 25.9 26.0 26.2

37.6 37.5 37.7 38.1 38.5 38.9

34.1 34.3 34.5 34.6 34.8 35.1

39.2 39.2 39.6 39.6 39.8 39.8

... ... ... ... ... ...

35.5 35.5 35.6 35.8 35.9 35.9

... ... ... ... ... ...

35.1 34.7 35.5 35.5 35.1 34.5

... ... ... ... ... ...

. . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

459

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1971 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

39.9 39.9 40.0 40.1 40.3 40.5

42.1 42.2 42.2 42.4 42.6 42.8

39.4 39.5 39.8 40.1 40.3 40.5

26.3 26.2 26.2 26.1 26.2 26.3

39.2 39.4 39.4 39.4 39.4 39.6

35.2 35.4 35.6 35.8 36.0 36.2

39.9 40.1 40.2 40.3 40.5 40.6

... ... ... ... ... ...

36.0 36.1 36.3 36.3 36.5 36.7

... ... ... ... ... ...

34.8 35.9 35.4 36.0 36.0 36.2

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

40.6 40.7 40.8 40.9 41.0 41.1

42.9 43.0 43.0 43.1 43.2 43.3

40.6 40.6 40.6 40.7 40.9 41.3

26.3 26.8 26.9 27.0 26.9 27.0

39.6 39.7 39.5 39.5 39.4 39.4

36.4 36.5 36.7 36.5 36.6 36.7

40.4 40.7 40.7 40.7 40.8 41.1

... ... ... ... ... ...

36.9 37.2 37.2 37.1 37.2 37.4

... ... ... ... ... ...

35.9 35.8 35.7 36.4 37.0 37.2

... ... ... ... ... ...

1972 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

41.2 41.4 41.4 41.5 41.6 41.7

43.5 43.6 43.6 43.8 43.9 44.0

41.1 41.7 41.6 41.6 41.7 41.9

27.0 26.8 26.9 26.9 27.0 27.0

39.7 39.6 39.6 39.6 39.7 39.7

36.8 36.9 37.0 37.1 37.2 37.3

41.0 41.3 41.3 41.3 41.5 41.7

... ... ... ... ... ...

37.5 37.7 37.8 37.9 38.0 38.0

... ... ... ... ... ...

37.8 38.1 38.1 38.7 39.3 39.4

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

41.8 41.9 42.1 42.2 42.4 42.5

44.1 44.3 44.3 44.4 44.4 44.6

42.1 42.2 42.5 42.8 43.0 43.2

27.1 27.3 27.6 27.7 27.9 27.8

39.8 40.0 40.2 40.1 40.3 40.4

37.3 37.4 37.4 37.8 37.8 37.9

41.8 42.0 42.2 42.0 42.3 42.7

... ... ... ... ... ...

38.1 38.2 38.5 38.7 39.0 39.6

... ... ... ... ... ...

40.0 40.3 40.5 40.9 42.0 43.8

... ... ... ... ... ...

1973 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

42.7 43.0 43.4 43.7 43.9 44.2

44.6 44.8 45.0 45.1 45.3 45.4

44.0 44.6 45.8 46.5 47.1 47.6

27.9 28.2 28.3 28.6 28.8 29.2

40.4 40.6 40.7 41.0 41.0 41.2

38.0 38.1 38.2 38.3 38.5 38.6

43.0 43.5 44.4 44.7 45.0 45.5

... ... ... ... ... ...

39.8 40.4 41.1 41.3 42.2 43.0

... ... ... ... ... ...

45.0 47.1 49.3 50.1 52.5 55.0

... ... ... ... ... ...

July .............................. August .......................... September ................... October ........................ November .................... December ....................

44.2 45.0 45.2 45.6 45.9 46.3

45.5 45.7 46.0 46.3 46.5 46.7

47.7 50.5 50.4 50.7 51.4 51.9

29.2 29.4 29.4 30.3 31.5 32.5

41.2 41.2 41.1 41.4 41.8 42.2

38.6 38.7 38.9 39.6 39.7 39.9

45.4 47.0 46.9 46.8 47.2 47.6

... ... ... ... ... ...

42.3 43.5 43.0 43.4 43.8 44.8

... ... ... ... ... ...

52.5 64.1 60.9 58.5 59.0 59.1

... ... ... ... ... ...

1974 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

46.8 47.3 47.8 48.1 48.6 49.0

46.9 47.2 47.6 47.9 48.5 49.0

52.5 53.6 54.2 54.1 54.5 54.5

34.1 35.4 36.9 37.6 38.3 38.6

42.8 43.4 44.2 44.7 45.3 45.9

40.1 40.3 40.7 41.0 41.4 42.1

48.8 49.7 50.2 50.7 51.3 51.3

49.7 50.0 50.5 51.1 52.2 53.1

45.9 46.8 48.1 49.0 50.6 51.5

47.5 48.1 49.5 50.9 52.5 53.7

63.3 64.3 62.3 60.6 58.3 55.4

86.3 86.5 88.3 89.7 83.8 82.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

49.3 49.9 50.6 51.0 51.5 51.9

49.5 50.2 50.7 51.2 51.6 52.0

54.3 55.1 56.2 56.8 57.5 58.2

38.9 39.2 39.3 39.2 39.4 39.6

46.4 46.6 47.0 47.3 47.6 47.9

42.6 43.2 43.7 44.1 44.4 44.8

52.7 53.7 54.3 55.3 56.4 56.4

54.0 55.0 55.7 56.7 57.4 57.9

53.4 55.8 55.9 57.2 57.8 57.8

55.2 57.0 57.6 58.2 58.8 59.1

59.8 62.9 60.9 63.2 64.2 61.5

84.2 85.5 82.5 80.6 77.6 71.6

1975 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

52.3 52.6 52.8 53.0 53.1 53.5

52.3 52.8 53.0 53.3 53.5 53.8

58.4 58.5 58.4 58.3 58.6 59.2

40.0 40.3 40.6 41.0 41.3 41.7

48.0 48.3 48.7 48.8 48.9 49.4

45.3 45.8 46.3 46.7 47.0 47.4

56.7 56.6 56.6 57.1 57.4 57.9

58.3 58.7 59.0 59.2 59.3 59.5

58.0 57.8 57.4 57.5 57.3 57.3

59.6 59.8 59.7 59.7 59.7 59.8

59.6 57.9 57.1 59.5 61.2 61.5

69.8 69.2 68.2 67.7 68.8 66.5

July .............................. August .......................... September ................... October ........................ November .................... December ....................

54.0 54.2 54.6 54.9 55.3 55.6

54.0 54.2 54.5 54.8 55.2 55.5

60.3 60.3 60.7 61.3 61.7 62.1

42.5 42.8 43.2 43.5 43.9 44.1

50.2 50.6 51.4 51.7 52.4 52.6

47.8 48.1 48.5 48.9 48.8 49.3

58.4 58.9 59.3 59.8 60.0 60.1

59.8 59.9 60.2 60.6 61.0 61.4

57.5 58.0 58.2 58.8 59.0 59.2

59.9 60.1 60.3 61.0 61.4 61.8

62.4 63.0 64.5 65.1 64.4 64.0

66.5 67.7 71.2 71.5 71.9 73.1

1976 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

55.8 55.9 56.0 56.1 56.4 56.7

55.9 56.2 56.5 56.7 57.0 57.2

61.9 61.3 60.9 60.9 61.1 61.3

44.5 44.4 44.1 43.9 44.1 44.4

53.0 53.3 53.8 54.0 54.3 54.8

49.7 50.2 50.7 51.0 51.4 51.8

60.0 59.9 60.0 60.3 60.4 60.5

61.7 61.9 62.2 62.3 62.4 62.8

59.4 59.6 59.8 60.0 60.3 60.8

62.1 62.3 62.6 62.8 63.2 63.6

63.0 62.1 61.5 63.9 63.6 65.2

72.4 73.8 74.5 78.1 80.6 82.8

July .............................. August .......................... September ................... October ........................ November .................... December ....................

57.0 57.3 57.6 57.9 58.1 58.4

57.6 57.9 58.2 58.5 58.7 58.9

61.6 61.8 62.1 62.4 62.3 62.5

44.8 45.2 45.7 46.1 46.8 47.5

55.1 55.4 56.0 56.6 57.0 57.3

52.3 52.6 53.0 53.2 53.9 54.2

60.7 60.9 61.1 61.4 61.9 62.4

63.1 63.5 63.9 64.1 64.6 64.9

61.1 61.3 61.9 62.0 62.4 62.8

63.9 64.3 64.7 65.0 65.3 65.6

64.8 63.6 63.4 63.0 63.4 64.5

87.3 84.1 84.4 82.2 81.8 81.1

. . . = Not available.

460

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Intermediate materials, Crude materials for further supplies, and components processing

Less food and energy

Total

Less food and energy

Total

Crude nonfood less energy

1977 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

58.7 59.3 59.6 60.0 60.2 60.5

59.3 59.7 60.0 60.3 60.6 61.0

62.7 63.9 64.2 65.0 65.3 65.7

48.1 48.1 48.4 48.6 48.9 48.9

57.8 58.2 58.7 59.0 59.1 59.1

54.6 54.9 55.5 56.0 56.5 57.0

62.5 63.2 63.7 64.0 64.4 64.6

65.1 65.4 65.7 65.9 66.1 66.5

63.0 63.3 63.9 64.4 64.9 64.9

65.8 65.9 66.4 66.7 67.1 67.4

64.3 65.7 66.6 68.3 67.6 65.5

78.7 79.7 81.5 82.1 82.5 79.7

July .............................. August .......................... September ................... October ........................ November .................... December ....................

60.8 61.1 61.3 61.6 62.0 62.3

61.2 61.5 61.8 62.0 62.3 62.7

65.9 66.2 66.4 66.6 67.1 67.4

49.1 49.5 49.8 50.5 51.3 51.6

59.0 58.9 59.1 59.3 59.5 59.8

57.3 57.7 58.2 58.4 58.6 59.0

64.8 65.2 65.5 65.9 66.4 66.7

66.8 67.3 67.8 68.2 68.8 69.0

65.1 65.4 65.7 65.8 66.3 66.6

67.9 68.2 68.7 68.8 69.1 69.4

64.7 63.9 63.7 64.0 65.4 66.4

78.8 79.2 79.2 78.5 78.4 80.1

1978 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

62.7 63.0 63.4 63.9 64.5 65.0

63.1 63.4 63.8 64.3 64.7 65.2

67.9 68.6 69.5 70.6 71.6 72.7

51.1 50.6 51.0 51.4 51.7 51.9

60.1 60.2 60.3 60.4 60.7 61.1

59.3 59.9 60.2 60.7 61.1 61.5

67.0 67.5 67.8 68.6 69.1 69.7

69.2 69.5 69.9 70.6 71.1 71.7

66.9 67.4 67.8 68.1 68.7 69.2

69.8 70.3 70.6 71.1 71.6 72.2

67.3 68.4 69.8 72.1 72.8 74.6

80.3 80.6 80.3 82.2 84.6 87.4

July .............................. August .......................... September ................... October ........................ November .................... December ....................

65.5 65.9 66.5 67.1 67.5 67.9

65.6 66.1 66.7 67.2 67.6 68.0

73.0 73.3 73.6 74.2 74.7 75.1

52.1 52.6 53.2 54.1 54.9 55.9

61.6 62.0 62.6 63.3 63.9 64.5

61.9 62.4 62.8 63.3 63.8 64.1

70.3 70.4 71.1 71.4 72.0 72.8

72.3 72.8 73.5 73.4 74.1 74.7

69.4 69.9 70.5 71.3 71.9 72.4

72.5 73.2 73.7 74.5 75.2 75.6

74.2 73.7 75.1 77.0 77.4 78.0

89.6 90.4 92.3 94.7 96.3 96.8

1979 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

68.5 69.2 69.9 70.6 71.4 72.2

68.5 69.2 69.8 70.3 70.8 71.3

76.4 77.7 78.4 79.0 79.7 80.0

55.8 55.9 57.4 59.5 62.0 64.7

64.6 65.2 66.4 67.8 69.1 70.5

64.8 65.2 65.7 66.1 66.6 67.1

73.7 74.4 75.0 75.8 76.2 76.6

75.3 75.9 76.4 77.0 77.4 78.0

73.1 73.7 74.6 75.7 76.6 77.5

76.3 77.0 77.8 78.9 79.6 80.1

80.1 82.1 83.8 84.4 84.7 85.6

96.4 99.6 104.2 105.1 106.7 111.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

73.0 73.7 74.4 75.2 76.0 76.9

71.9 72.7 73.3 74.0 74.8 75.7

80.5 80.4 80.9 81.5 82.0 82.8

67.3 69.7 71.9 73.5 74.8 76.8

71.7 72.7 73.5 74.0 74.7 75.8

67.7 68.2 68.7 69.2 69.8 70.6

77.4 78.2 79.5 80.4 81.4 82.2

78.5 78.8 79.7 80.4 81.0 81.7

78.7 79.8 81.1 82.4 83.2 84.0

81.1 81.8 82.7 83.9 84.5 85.2

86.5 85.5 87.9 88.8 90.0 91.2

109.4 106.4 106.5 108.9 111.3 111.3

1980 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

78.0 79.0 80.1 80.9 81.7 82.5

76.7 77.5 78.6 79.5 80.1 81.0

83.3 83.4 84.1 84.7 85.2 85.7

79.1 81.9 84.5 85.4 86.4 86.5

78.0 79.8 81.8 82.2 82.8 82.7

71.4 72.3 73.0 73.6 74.2 74.7

83.4 84.6 85.5 86.2 86.6 87.3

83.3 84.2 84.7 85.5 85.7 86.6

86.0 87.6 88.2 88.5 89.0 89.8

87.2 88.2 88.6 88.8 89.1 89.8

90.9 92.6 90.8 88.3 89.5 90.1

112.6 115.3 111.7 109.9 107.2 106.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

82.6 83.2 83.9 84.7 85.6 86.4

80.8 81.3 82.1 83.0 83.9 84.9

86.6 88.0 89.1 89.8 90.8 91.3

86.7 87.2 87.5 88.0 88.8 90.7

83.1 83.7 84.6 85.3 86.1 86.8

75.2 75.6 76.3 76.9 77.3 77.8

88.7 89.7 90.1 90.8 91.4 91.8

87.7 88.4 88.8 89.6 90.1 90.4

90.5 91.5 91.9 92.8 93.5 94.4

90.3 91.1 91.4 92.1 92.6 93.7

94.6 99.0 100.4 102.2 103.5 102.7

109.6 112.4 116.2 118.2 119.8 119.3

1981 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

87.2 88.0 88.6 89.1 89.7 90.5

85.4 85.9 86.4 87.0 87.8 88.6

91.6 92.1 92.6 92.8 92.8 93.2

92.1 95.2 97.4 97.6 97.9 97.3

88.5 90.7 91.8 91.7 92.2 92.7

78.6 79.2 79.9 80.7 81.4 82.3

92.8 93.6 94.7 95.7 96.0 96.5

91.4 92.0 92.6 93.5 94.0 94.6

95.6 96.1 97.1 98.3 98.7 99.0

94.7 94.9 95.6 96.6 97.1 97.7

103.4 104.2 103.8 104.2 103.8 104.9

113.3 106.2 108.9 111.9 113.7 115.5

July .............................. August .......................... September ................... October ........................ November .................... December ....................

91.5 92.2 93.1 93.4 93.8 94.1

89.8 90.7 91.8 92.1 92.5 93.0

93.9 94.4 94.8 95.0 95.1 95.3

97.3 97.8 98.6 99.2 100.5 101.5

93.5 93.9 94.6 95.5 96.2 96.4

83.4 84.3 85.1 85.9 86.8 87.5

96.7 96.8 97.2 97.6 97.9 98.3

94.8 95.3 95.9 96.5 97.0 97.6

99.2 99.7 99.7 99.8 99.9 100.0

98.4 98.9 99.3 99.5 99.7 99.8

105.0 104.0 102.7 101.2 99.7 98.8

116.4 115.5 112.6 110.8 107.5 106.0

1982 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

94.4 94.7 94.7 95.0 95.9 97.0

93.3 93.8 93.9 94.7 95.4 96.1

95.6 96.3 96.2 96.4 97.2 98.1

100.6 98.0 96.6 94.2 95.7 98.4

96.7 96.2 95.8 94.5 95.1 97.2

88.2 88.8 89.6 90.5 91.3 92.2

98.9 98.8 98.8 99.0 99.0 99.8

98.1 98.1 98.7 99.0 99.4 99.9

100.4 100.3 99.9 99.7 99.7 99.8

99.9 100.0 99.9 99.8 100.1 100.0

99.7 100.0 99.7 100.2 101.9 101.8

101.2 100.7 100.0 101.1 102.2 101.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

97.5 97.7 97.7 98.1 98.0 97.7

96.7 97.1 97.2 97.5 97.3 97.2

98.2 98.0 98.2 98.2 98.2 98.2

99.3 99.8 100.3 101.7 102.5 102.8

98.1 98.2 98.0 98.2 98.2 97.7

93.0 93.9 94.7 95.5 96.5 97.2

100.2 100.6 100.7 101.0 101.4 101.8

100.1 100.6 100.8 101.3 101.6 102.2

100.0 99.9 100.0 99.9 100.1 100.1

99.8 99.7 100.2 100.2 100.2 100.3

100.7 99.8 99.2 98.7 99.2 98.8

101.4 100.0 98.9 97.7 96.3 95.9

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Less food and energy

Intermediate materials, Crude materials for further supplies, and components processing Total

Less food and energy

Total

Crude nonfood less energy

1983 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

97.9 98.0 98.1 98.8 99.2 99.4

97.6 98.0 98.2 98.6 98.9 99.2

98.1 98.2 98.8 99.2 99.5 99.6

99.6 97.7 96.8 98.9 100.4 100.6

97.6 96.9 96.5 97.8 98.6 99.0

97.9 98.8 99.0 99.4 99.9 100.4

101.0 101.1 101.0 101.1 101.4 101.6

101.8 102.2 102.5 102.4 102.6 102.8

99.8 100.0 99.7 99.5 99.8 100.2

100.3 100.8 100.8 100.9 101.0 101.3

98.8 100.0 100.5 101.2 100.9 100.5

97.3 99.8 102.2 102.1 103.4 104.8

July .............................. August .......................... September ................... October ........................ November .................... December ....................

99.8 100.1 100.4 100.8 101.1 101.4

99.8 100.1 100.5 101.0 101.5 101.8

99.6 99.7 100.0 100.3 100.3 100.6

100.9 101.2 101.0 100.8 100.5 100.0

99.6 100.4 100.7 101.1 101.5 101.5

100.8 101.4 101.8 102.3 102.8 103.4

101.6 101.9 102.2 102.2 102.0 102.3

103.1 103.5 103.5 103.6 103.8 104.1

100.5 100.9 101.6 101.7 101.8 101.9

101.8 102.0 102.3 102.5 102.8 103.1

99.5 102.2 103.3 103.2 102.3 103.5

106.2 108.4 109.0 109.1 109.9 111.2

1984 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

102.1 102.6 102.9 103.3 103.5 103.7

102.5 102.8 103.2 103.7 104.1 104.5

102.0 102.7 102.9 102.9 102.7 103.1

100.2 101.4 101.4 101.7 101.6 100.8

102.0 102.2 102.9 103.3 103.7 103.9

104.0 105.0 105.2 105.8 106.2 106.7

103.0 103.4 103.8 103.9 103.8 103.8

104.5 104.7 105.2 105.3 105.3 105.5

102.1 102.5 103.0 103.2 103.4 103.6

103.4 103.8 104.4 104.5 104.6 104.8

104.6 103.8 105.7 105.2 104.5 103.3

111.5 113.8 114.8 115.1 115.7 114.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

104.1 104.4 104.7 105.1 105.3 105.5

105.0 105.4 105.8 106.2 106.4 106.8

103.3 103.9 103.8 104.0 104.1 104.5

100.5 100.1 100.6 101.1 100.8 100.1

103.7 103.8 104.1 104.8 104.9 104.7

107.2 107.7 108.1 108.7 109.3 109.8

104.0 103.8 103.8 103.6 104.0 104.0

105.7 105.9 106.2 105.9 106.2 106.3

103.4 103.2 103.1 103.2 103.3 103.2

104.9 105.1 105.0 105.1 105.3 105.3

104.0 103.3 102.8 101.5 101.9 101.4

112.0 109.6 110.5 108.5 107.7 107.3

1985 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

105.7 106.3 106.8 107.0 107.2 107.5

107.1 107.7 108.1 108.4 108.8 109.1

104.7 105.2 105.5 105.4 105.2 105.5

100.3 100.3 101.3 102.3 102.2 102.2

105.1 105.6 106.3 106.8 106.5 106.5

110.2 110.8 111.4 112.0 112.6 113.3

104.0 104.1 104.1 104.6 104.9 104.6

106.9 107.3 107.6 107.6 107.8 108.2

103.1 102.8 102.7 102.9 103.2 102.6

105.3 105.3 105.2 105.2 105.3 105.5

99.9 99.4 97.6 96.7 95.8 95.2

107.4 107.2 107.0 107.4 105.3 103.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

107.7 107.9 108.1 108.5 109.0 109.5

109.4 109.8 110.0 110.5 111.1 111.4

105.5 105.6 105.8 105.8 106.5 107.3

102.2 101.2 101.2 101.2 101.8 102.4

106.6 106.2 106.2 106.5 107.0 107.5

113.9 114.6 115.2 115.8 116.5 117.1

104.7 104.5 103.8 104.9 105.5 106.0

108.4 108.5 107.9 108.9 109.1 109.1

102.3 102.3 102.2 102.3 102.5 102.9

105.3 105.3 105.2 105.1 105.1 105.1

94.9 92.9 91.8 94.1 95.7 95.5

104.3 103.6 103.3 103.7 103.0 102.4

1986 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

109.9 109.7 109.1 108.7 109.0 109.4

111.9 112.2 112.5 112.9 113.1 113.4

107.5 107.3 107.5 107.7 108.2 108.3

102.6 99.5 92.6 87.2 87.2 88.8

108.0 107.0 103.6 101.0 101.4 102.3

118.0 118.8 119.7 120.4 121.2 121.8

105.5 104.1 102.8 102.3 102.8 103.1

109.3 109.5 109.6 110.1 110.2 110.5

102.4 101.2 99.9 98.9 98.7 98.6

105.0 104.9 105.0 104.7 104.6 104.7

94.2 90.5 88.2 85.6 86.5 86.2

103.6 103.5 103.8 103.9 104.1 104.7

July .............................. August .......................... September ................... October ........................ November .................... December ....................

109.5 109.6 110.0 110.2 110.4 110.8

113.8 114.2 114.6 115.0 115.3 115.6

109.1 110.1 110.2 110.5 111.1 111.4

85.6 83.6 84.4 82.8 82.1 82.5

101.1 100.1 100.6 100.5 100.8 101.1

122.5 123.2 124.0 124.7 125.5 126.2

102.3 102.7 102.9 103.5 103.4 103.6

110.7 110.8 110.7 111.8 112.0 112.1

98.0 98.0 98.5 98.3 98.3 98.5

104.8 104.9 105.1 105.1 105.2 105.3

86.4 86.7 86.6 87.4 87.6 86.9

105.3 99.7 100.3 102.0 102.8 104.1

1987 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

111.4 111.8 112.2 112.7 113.0 113.5

115.9 116.2 116.6 117.3 117.7 117.9

111.8 112.2 112.4 112.6 113.2 113.9

85.4 87.4 87.6 87.6 87.1 88.5

102.6 103.5 103.8 104.3 104.4 105.1

126.7 127.2 127.8 128.6 129.2 130.0

104.1 104.4 104.5 105.1 105.2 105.5

112.5 112.3 112.4 112.9 113.0 113.1

99.0 99.8 99.9 100.3 100.8 101.4

105.6 105.9 106.2 106.5 107.0 107.5

89.3 90.2 90.5 92.5 93.8 94.5

105.4 106.2 106.5 107.5 110.0 113.2

July .............................. August .......................... September ................... October ........................ November .................... December ....................

113.8 114.3 114.7 115.0 115.4 115.6

118.3 118.7 119.2 119.8 120.1 120.4

113.7 113.9 114.3 114.5 114.5 115.1

89.2 90.5 90.3 89.6 90.0 89.5

105.9 106.6 106.9 107.0 107.3 107.2

130.6 131.2 131.9 132.4 133.0 133.5

105.7 105.9 106.2 106.0 106.0 105.8

113.3 113.6 113.9 114.0 114.2 114.3

101.9 102.4 102.6 103.1 103.5 103.8

107.9 108.3 108.9 109.6 110.1 110.7

95.6 96.5 96.0 95.8 95.1 94.9

115.9 119.1 122.8 126.6 127.5 127.9

1988 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

116.0 116.2 116.5 117.2 117.5 118.0

120.9 121.2 121.7 122.3 122.7 123.2

115.6 115.6 115.8 116.4 116.9 117.6

88.8 88.7 88.4 88.8 88.5 88.9

107.0 107.0 107.0 107.5 107.9 108.3

134.4 135.2 135.8 136.7 137.6 138.3

106.4 106.3 106.6 107.0 107.2 107.5

115.0 115.3 115.6 115.9 116.2 116.6

104.1 104.4 104.8 105.5 106.2 107.4

111.8 112.2 112.8 113.6 114.3 114.9

94.2 95.2 94.1 95.4 95.8 97.0

129.4 131.7 133.0 132.1 130.7 131.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

118.5 119.0 119.5 119.9 120.3 120.7

123.6 124.0 124.7 125.2 125.6 126.0

118.8 119.4 120.1 120.3 120.5 121.1

89.4 90.1 89.8 89.8 89.8 89.6

108.8 109.7 109.9 110.0 110.2 110.4

139.1 139.8 140.5 141.4 142.0 142.7

108.4 108.8 109.0 109.2 109.6 110.0

117.2 117.7 118.1 118.4 118.7 119.2

108.3 108.5 108.7 108.6 108.8 109.4

115.8 116.3 116.8 117.3 118.0 118.6

96.7 97.0 97.0 96.6 95.2 98.1

133.2 134.3 133.3 133.6 136.0 137.6

461

462

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Less food and energy

Intermediate materials, Crude materials for further supplies, and components processing Total

Less food and energy

Total

Crude nonfood less energy

1989 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

121.2 121.6 122.2 123.1 123.7 124.1

126.5 126.9 127.4 127.8 128.3 128.8

121.6 122.5 123.2 123.9 124.7 125.1

90.3 90.8 91.8 96.6 97.4 96.9

110.9 111.7 112.4 115.0 115.8 115.7

143.8 144.9 145.8 146.6 147.5 148.6

111.1 111.9 112.3 113.1 114.0 114.0

119.9 120.5 120.7 120.8 121.6 122.2

110.8 111.3 111.9 112.5 112.6 112.5

119.5 119.9 120.2 120.5 120.6 120.6

102.0 101.7 102.9 104.1 104.5 103.2

140.6 140.3 140.6 140.3 139.8 137.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

124.5 124.5 124.8 125.4 125.9 126.3

129.2 129.5 129.9 130.6 131.1 131.6

125.6 125.9 126.3 126.8 127.4 127.8

96.7 94.9 93.8 94.4 93.9 94.2

115.4 114.5 113.9 114.5 114.4 114.7

149.6 150.6 151.8 152.8 154.1 154.9

113.8 113.4 114.0 114.6 114.8 115.5

122.1 122.7 123.1 123.5 123.9 124.2

112.2 111.8 112.1 112.2 112.0 112.2

120.3 120.2 120.2 120.3 120.0 119.8

103.5 101.2 102.5 102.7 103.5 105.1

135.9 136.8 137.5 137.9 134.9 132.8

1990 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

127.5 128.0 128.6 128.9 129.1 129.9

132.1 132.7 133.5 134.0 134.4 135.1

129.7 130.8 131.0 130.8 131.1 132.1

98.9 98.2 97.6 97.5 96.7 97.3

117.0 117.2 117.3 117.7 117.5 118.0

156.0 157.1 158.3 159.6 160.8 162.0

117.7 117.6 117.5 117.4 117.5 117.6

124.5 124.9 125.3 125.5 126.0 126.4

113.7 112.8 112.9 113.1 113.1 112.9

120.0 119.9 120.2 120.5 120.6 120.4

106.7 106.8 105.1 102.7 103.1 100.6

132.7 131.6 133.9 137.0 138.0 137.3

July .............................. August .......................... September ................... October ........................ November .................... December ....................

130.5 131.6 132.5 133.4 133.7 134.2

135.8 136.6 137.1 137.6 138.0 138.6

132.8 133.2 133.6 134.1 134.5 134.6

97.1 101.6 106.5 110.8 111.2 111.0

118.5 120.7 123.2 125.6 126.1 126.9

163.4 164.8 165.9 167.3 168.7 169.8

117.9 119.2 120.7 121.9 122.6 122.0

126.6 127.1 127.7 128.0 128.4 128.6

112.8 114.0 115.8 117.4 117.7 116.9

120.6 120.8 121.5 122.1 122.3 122.1

101.0 110.5 115.8 125.8 117.8 110.8

138.0 140.1 139.9 138.4 135.7 133.8

1991 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

134.7 134.8 134.8 135.1 135.6 136.0

139.5 140.2 140.5 140.9 141.3 141.8

135.0 135.1 135.3 136.1 136.6 137.4

108.5 104.5 101.9 101.2 102.1 101.1

125.5 123.9 122.7 122.5 123.2 123.4

171.0 172.1 173.2 174.3 175.2 176.4

122.6 121.8 121.3 121.3 121.6 121.4

129.5 129.8 130.1 130.4 130.6 130.7

116.9 115.9 114.7 114.2 114.1 113.9

122.4 122.1 121.7 121.5 121.3 121.3

113.3 104.1 100.5 100.2 100.9 99.2

134.2 133.7 131.8 131.7 130.4 126.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

136.2 136.6 137.0 137.2 137.8 138.2

142.3 142.9 143.4 143.7 144.2 144.7

136.7 136.2 136.4 136.2 136.7 137.0

100.7 101.1 101.5 101.6 102.4 103.1

123.3 124.0 124.1 123.9 124.5 125.1

177.4 178.8 179.9 180.9 181.9 183.1

121.1 121.3 121.5 121.9 122.4 122.3

131.0 131.3 131.8 132.3 132.5 132.6

113.6 113.8 114.0 114.0 114.1 114.0

121.1 121.0 121.0 121.1 121.1 121.1

99.4 99.1 98.4 100.8 100.7 98.2

125.4 125.8 125.7 125.4 124.4 123.4

1992 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

138.3 138.6 139.1 139.4 139.7 140.1

145.1 145.4 145.9 146.3 146.8 147.1

136.6 137.1 137.6 137.5 137.2 137.6

101.5 101.2 101.2 101.4 102.0 103.3

124.6 124.5 125.0 125.6 125.9 126.4

184.3 185.6 186.8 187.9 188.7 189.6

122.0 122.3 122.4 122.5 122.9 123.4

133.0 133.1 133.4 133.8 134.3 134.1

113.4 113.8 113.9 114.1 114.5 115.1

121.0 121.3 121.5 121.7 121.8 122.0

97.2 98.6 97.1 98.1 100.3 101.6

123.4 125.2 127.7 128.4 129.1 128.8

July .............................. August .......................... September ................... October ........................ November .................... December ....................

140.5 140.8 141.1 141.7 142.1 142.3

147.6 147.9 148.1 148.8 149.2 149.6

137.4 138.4 138.9 138.9 138.7 138.8

103.7 103.5 103.6 104.3 105.1 105.3

126.9 127.0 127.0 128.1 128.7 128.9

190.6 191.5 192.4 193.5 194.5 195.3

123.3 123.4 123.7 124.2 124.1 124.2

134.3 134.3 134.6 134.9 135.1 135.2

115.2 115.1 115.3 115.3 115.1 115.1

122.1 122.3 122.4 122.4 122.4 122.5

101.6 100.7 102.8 102.8 102.5 101.3

129.6 130.4 130.4 128.9 128.2 130.5

1993 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

142.8 143.1 143.3 143.8 144.2 144.3

150.1 150.6 150.8 151.4 151.8 152.1

139.1 139.6 139.6 140.0 141.0 140.6

105.0 104.3 104.9 104.9 104.3 103.9

129.2 129.6 129.4 129.6 129.9 129.9

196.4 197.4 198.1 199.1 200.5 201.3

124.4 124.7 125.0 125.7 125.7 125.2

135.6 135.9 136.1 136.5 136.6 136.4

115.4 115.9 116.3 116.6 116.3 116.3

122.9 123.5 123.8 124.0 123.7 123.7

101.7 101.2 101.7 103.2 105.6 103.8

135.0 136.8 137.0 138.4 140.3 140.3

July .............................. August .......................... September ................... October ........................ November .................... December ....................

144.5 144.8 145.0 145.6 146.0 146.3

152.3 152.8 152.9 153.4 153.9 154.3

140.6 141.1 141.4 142.0 142.3 142.8

103.4 103.4 103.0 105.3 104.4 103.7

130.1 130.5 130.4 132.0 132.2 132.1

202.2 202.8 203.6 204.5 205.1 205.8

125.1 123.9 124.1 124.2 124.4 124.4

136.6 134.9 134.9 135.0 135.3 135.7

116.3 116.2 116.3 116.4 116.5 116.2

123.7 123.9 124.0 124.0 124.3 124.5

101.6 100.8 101.2 103.7 103.0 101.7

142.1 140.4 140.7 142.6 144.1 145.3

1994 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

146.3 146.7 147.1 147.2 147.5 147.9

154.5 154.8 155.3 155.5 155.9 156.4

142.9 142.7 142.7 143.0 143.3 143.8

102.8 104.1 104.3 103.7 102.8 103.1

131.7 132.3 132.6 132.8 132.4 133.2

206.4 207.2 207.9 209.0 209.7 210.5

124.8 125.0 125.1 125.1 125.1 125.2

136.3 136.3 136.4 136.6 137.0 137.2

116.5 116.9 117.1 117.1 117.2 117.8

124.7 124.9 125.1 125.3 125.6 126.3

103.8 102.1 103.8 103.8 102.2 102.7

148.3 151.0 151.5 150.7 149.7 151.2

July .............................. August .......................... September ................... October ........................ November .................... December ....................

148.4 149.0 149.3 149.4 149.8 150.1

156.7 157.1 157.5 157.8 158.2 158.3

144.6 145.1 145.3 145.3 145.6 146.8

104.5 106.7 106.1 105.7 106.1 105.9

134.4 136.0 136.1 136.2 136.7 137.1

211.3 212.2 213.1 214.1 215.0 215.9

125.7 126.2 125.9 125.5 126.1 126.6

137.3 137.6 137.7 137.4 137.6 137.9

118.3 119.1 119.6 120.1 121.0 121.5

126.7 127.4 128.4 129.3 130.3 131.0

101.7 101.6 99.7 98.6 99.8 101.1

155.5 158.8 160.5 161.3 166.6 169.9

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Less food and energy

Intermediate materials, Crude materials for further supplies, and components processing Total

Less food and energy

Total

Crude nonfood less energy

1995 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

150.5 150.9 151.2 151.8 152.1 152.4

159.0 159.4 159.9 160.4 160.7 161.1

146.7 147.3 147.1 148.1 148.2 148.3

105.7 105.8 105.5 105.6 105.8 106.7

137.4 137.9 138.4 139.2 139.7 140.6

216.6 217.4 218.1 218.6 219.2 219.9

126.9 127.2 127.4 127.7 127.8 127.8

138.4 138.7 139.0 139.3 139.7 139.8

122.8 123.7 124.3 125.0 125.2 125.5

132.6 133.7 134.3 135.2 135.5 135.7

102.1 102.9 102.3 103.7 102.4 103.0

174.5 176.5 177.8 180.2 179.6 179.5

July .............................. August .......................... September ................... October ........................ November .................... December ....................

152.6 152.9 153.1 153.5 153.7 153.9

161.4 161.8 162.2 162.7 163.0 163.1

148.5 148.6 149.1 149.5 149.6 149.9

105.8 105.6 104.1 104.4 103.4 104.4

139.9 139.4 139.1 139.5 139.1 139.1

220.6 221.6 222.4 223.0 223.7 224.3

128.0 127.9 128.1 128.4 128.7 129.3

140.2 140.2 140.2 141.0 141.3 141.5

125.6 125.6 125.5 125.4 125.2 125.4

136.1 136.1 136.2 135.8 135.5 135.2

101.6 99.7 102.0 101.9 104.1 106.5

176.4 173.4 170.9 166.6 163.6 162.3

1996 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

154.7 155.0 155.5 156.1 156.4 156.7

163.7 164.0 164.4 164.6 165.0 165.4

150.4 150.8 151.4 152.0 151.9 152.9

106.9 107.1 108.3 111.2 112.0 110.3

140.4 140.9 141.5 142.9 143.5 143.4

225.2 225.7 226.2 226.8 227.4 228.0

129.7 129.7 130.5 130.9 130.9 131.3

141.5 141.6 141.6 141.6 142.0 142.2

125.5 125.0 125.3 125.7 126.2 125.8

134.8 134.4 134.1 133.8 134.0 133.9

109.8 111.6 109.8 114.2 114.6 112.2

162.6 162.1 158.2 156.7 157.6 154.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

157.0 157.2 157.7 158.2 158.7 159.1

165.7 166.0 166.5 166.8 167.2 167.4

153.4 153.9 154.6 155.5 156.1 156.3

110.1 109.7 109.8 110.5 111.8 113.9

143.0 143.0 143.6 143.9 144.6 145.7

228.6 229.1 229.7 230.3 231.0 231.2

131.2 131.6 131.7 132.4 132.5 132.9

142.2 142.3 142.2 142.3 142.1 142.3

125.5 125.6 126.1 126.0 125.8 126.4

133.6 133.6 134.0 133.7 133.7 133.9

114.6 115.3 112.7 111.9 115.7 122.5

152.2 152.5 153.5 153.3 153.0 153.6

1997 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

159.4 159.7 159.8 159.9 159.9 160.2

167.8 168.1 168.4 168.9 169.2 169.4

155.9 156.5 156.6 156.5 156.6 156.9

115.2 115.0 113.0 111.0 108.8 110.0

145.6 145.2 145.0 144.3 143.3 143.6

231.8 232.2 233.0 233.5 234.1 234.4

133.0 132.7 132.6 131.8 131.5 131.3

142.5 142.4 142.6 142.6 142.4 142.4

126.6 126.5 126.1 125.6 125.4 125.4

134.1 134.1 134.2 134.1 134.2 134.2

127.5 116.6 107.5 107.8 109.1 106.2

156.2 157.6 158.7 155.8 157.0 156.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

160.4 160.8 161.2 161.5 161.7 161.8

169.7 169.8 170.2 170.6 170.8 171.2

157.2 157.7 158.0 158.3 158.6 158.7

109.1 110.9 112.4 111.8 111.4 109.8

143.3 144.1 144.8 144.7 143.9 143.7

234.7 235.1 235.5 236.1 236.9 237.8

130.9 131.4 131.6 131.9 131.6 131.4

142.2 142.3 142.6 142.6 142.4 142.3

125.1 125.3 125.5 125.4 125.6 125.4

134.2 134.3 134.3 134.3 134.4 134.4

106.2 106.8 108.4 113.4 115.8 108.8

155.7 156.8 155.8 156.7 156.5 154.2

1998 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

162.0 162.0 162.0 162.2 162.6 162.8

171.6 171.9 172.2 172.5 172.9 173.2

159.5 159.4 159.7 159.7 160.3 160.2

107.5 105.1 103.3 102.4 103.2 103.6

143.0 142.4 141.5 140.9 141.2 141.4

238.1 238.8 239.4 240.3 241.2 241.8

130.7 130.6 130.5 130.7 130.5 130.4

142.4 142.6 143.3 143.4 143.5 143.5

124.6 124.2 123.7 123.6 123.5 123.1

134.3 134.2 134.1 134.0 133.9 133.6

102.8 100.8 99.5 100.6 99.6 97.1

150.4 150.1 148.7 147.3 146.2 145.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

163.2 163.4 163.5 163.9 164.1 164.4

173.5 174.0 174.2 174.4 174.8 175.4

160.6 161.0 161.1 162.0 162.2 162.4

103.3 102.1 101.3 101.5 101.1 100.1

141.7 141.6 141.2 141.4 141.3 140.9

242.5 243.3 244.1 244.8 245.3 245.9

130.7 130.4 130.4 130.9 130.8 131.3

143.8 143.8 144.0 144.2 144.3 145.8

123.0 122.7 122.3 122.2 122.0 121.3

133.5 133.4 133.1 132.7 132.5 132.2

97.4 93.6 91.4 93.9 93.6 90.2

143.4 139.4 137.6 134.0 131.6 129.4

1999 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

164.7 164.7 164.8 165.9 166.0 166.0

175.6 175.6 175.7 176.3 176.5 176.6

163.0 163.3 163.3 163.5 163.8 163.7

99.7 99.2 100.4 105.5 104.9 104.5

140.8 140.0 140.7 143.6 143.4 143.0

246.5 247.3 247.9 248.7 249.3 250.0

131.7 131.2 131.5 132.1 132.3 132.4

145.6 145.7 145.7 145.7 145.7 145.8

121.2 120.8 121.1 121.9 122.2 122.6

132.0 131.8 131.9 132.0 132.4 132.8

91.0 89.0 89.6 91.3 96.8 97.0

128.7 130.5 129.6 128.7 130.5 131.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

166.7 167.1 167.8 168.1 168.4 168.8

177.1 177.3 177.8 178.1 178.4 178.7

163.9 164.2 164.6 165.0 165.3 165.5

106.7 109.5 111.8 112.0 111.5 113.8

144.6 145.9 147.0 147.6 147.5 148.8

250.9 251.7 252.5 253.1 253.9 254.9

132.7 133.5 134.5 134.4 134.9 135.2

145.8 145.7 146.5 146.9 146.9 147.0

123.4 124.1 124.6 124.9 125.4 125.8

133.3 133.6 133.9 134.3 134.5 134.7

97.3 102.4 106.4 103.8 109.7 104.4

133.6 136.3 138.8 142.5 144.4 147.6

2000 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

169.3 170.0 171.0 170.9 171.2 172.2

179.3 179.4 180.0 180.3 180.7 181.1

165.6 166.2 166.5 166.7 167.3 167.4

115.0 118.8 124.3 120.9 120.0 126.8

149.1 150.0 153.6 152.1 152.0 155.0

255.6 256.5 257.7 258.4 259.2 260.3

135.2 136.6 137.3 136.9 137.0 138.1

146.8 147.3 147.4 147.4 147.8 147.8

126.4 127.5 128.4 128.3 128.2 129.3

135.1 135.5 136.0 136.5 136.6 136.9

106.8 111.0 113.2 111.3 115.1 124.8

150.5 151.3 150.5 148.8 147.8 145.1

July .............................. August .......................... September ................... October ........................ November .................... December ....................

172.7 172.7 173.6 173.9 174.2 174.6

181.5 181.9 182.3 182.6 183.1 183.3

168.3 168.7 168.9 169.0 169.2 170.0

127.3 123.8 129.2 129.6 129.2 130.1

154.6 153.2 155.2 154.7 155.0 155.1

261.2 262.4 263.3 264.1 264.7 265.6

138.2 137.9 139.0 139.5 140.2 140.5

148.1 148.2 148.6 148.5 148.7 148.9

129.6 129.3 130.3 130.7 130.7 131.3

137.1 136.9 137.0 137.1 136.9 136.9

122.1 117.6 125.6 130.2 129.1 141.1

142.8 141.2 142.9 142.1 139.6 139.5

463

464

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-2. Summary Consumer and Producer Price Indexes—Continued (Seasonally adjusted.) Consumer Price Index, all urban consumers, 1982–1984 = 100

Producer Price Index, 1982 = 100 Finished goods

Year and month All items

All items less food and energy

Food

Energy

Transportation

Medical care

Total

Less food and energy

Intermediate materials, Crude materials for further supplies, and components processing Total

Less food and energy

Total

Crude nonfood less energy

2001 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

175.6 176.0 176.1 176.6 177.4 177.8

183.9 184.4 184.8 185.1 185.3 186.0

170.3 171.2 171.7 172.1 172.4 173.1

135.0 134.1 131.8 133.5 139.0 137.5

155.5 155.2 154.2 155.3 158.0 157.6

267.1 268.4 269.4 270.4 271.3 272.4

141.8 141.9 141.3 142.0 142.2 141.7

149.5 149.2 149.5 149.8 150.1 150.2

132.1 131.9 131.1 131.0 131.1 130.9

137.2 137.3 137.4 137.2 137.3 137.1

165.7 141.8 132.4 133.1 130.5 119.8

138.8 136.3 134.9 131.3 130.8 129.6

July .............................. August .......................... September ................... October ........................ November .................... December ....................

177.4 177.5 178.1 177.5 177.5 177.3

186.4 186.8 187.1 187.3 188.1 188.3

173.6 174.0 174.2 174.8 174.9 174.7

129.6 127.2 130.7 122.4 116.5 113.4

154.0 153.3 155.9 152.6 150.0 149.0

272.9 274.3 275.2 276.3 277.3 278.1

140.1 140.7 141.3 139.1 138.5 138.0

150.5 150.5 150.7 149.8 150.1 150.4

129.4 129.1 129.4 127.6 126.9 126.1

136.4 135.9 135.9 135.4 135.1 134.8

113.3 112.3 107.1 97.4 102.8 95.5

130.6 128.4 128.9 126.7 126.4 125.9

2002 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

177.7 177.9 178.6 179.4 179.5 179.6

188.7 189.1 189.2 189.7 190.0 190.2

175.3 175.7 176.1 176.3 175.8 175.9

114.3 113.1 118.1 122.9 122.2 121.9

149.4 148.5 150.8 153.1 152.9 152.8

279.6 280.5 281.5 282.8 284.0 284.5

137.7 138.0 138.9 138.9 138.3 138.7

150.1 150.1 150.1 150.4 150.3 150.5

125.7 125.5 126.3 127.4 127.0 127.2

134.7 134.6 135.0 135.2 135.3 135.6

100.0 98.5 103.8 108.1 109.1 105.0

126.4 127.3 128.0 130.7 134.0 138.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

180.0 180.5 180.8 181.1 181.4 181.6

190.5 191.2 191.4 191.5 191.8 192.0

176.2 176.1 176.4 176.4 177.0 177.2

122.4 123.1 123.9 126.0 125.8 125.9

153.2 153.9 154.4 155.2 154.9 154.8

286.4 287.2 288.0 289.8 291.1 292.0

138.6 138.7 139.1 140.0 139.9 139.7

150.1 149.9 150.4 150.5 150.4 149.5

127.7 128.1 129.0 129.8 129.9 130.0

136.0 136.2 136.5 136.7 136.8 136.7

106.4 108.2 110.7 112.6 116.8 119.0

140.4 139.8 140.0 140.4 141.9 142.0

2003 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

182.3 183.3 184.1 183.5 183.3 183.4

192.3 192.5 192.5 192.5 192.9 193.0

177.0 178.2 178.5 178.5 178.7 179.7

130.4 137.9 145.7 139.0 133.5 133.3

156.5 159.3 161.6 158.8 156.3 156.2

292.6 293.0 293.6 294.1 295.3 296.1

141.2 142.6 144.3 142.2 141.7 142.6

150.0 149.9 150.8 150.0 150.1 150.1

131.3 133.7 136.4 133.2 132.3 133.0

137.2 138.1 138.6 138.3 138.4 138.4

128.3 134.3 152.2 127.9 130.0 135.6

143.5 147.1 146.6 145.2 145.6 145.9

July .............................. August .......................... September ................... October ........................ November .................... December ....................

183.8 184.4 185.0 184.8 184.6 185.0

193.4 193.6 193.7 194.0 194.0 194.2

179.9 180.5 180.8 181.7 182.6 183.6

133.3 137.6 142.0 136.9 133.5 134.7

156.2 158.2 159.6 157.3 155.4 155.4

297.4 298.3 299.6 300.4 301.4 302.8

142.8 143.6 144.1 144.8 144.6 145.3

150.4 150.6 150.6 151.1 151.1 151.0

133.2 133.9 133.9 134.3 134.4 135.3

138.2 138.4 138.7 139.1 139.4 139.6

132.2 130.7 134.5 138.0 137.9 142.4

148.5 151.4 155.8 161.0 167.6 173.2

2004 January ........................ February ...................... March ........................... April .............................. May .............................. June .............................

185.9 186.5 187.3 187.7 188.8 189.3

194.6 194.9 195.5 195.9 196.2 196.6

183.4 183.9 184.3 184.6 186.0 186.4

140.4 143.4 146.6 147.1 153.4 156.0

158.1 159.2 161.3 161.3 164.2 165.0

303.6 305.3 306.9 307.9 308.8 309.8

145.7 145.6 146.4 147.4 148.3 148.2

151.4 151.3 151.7 152.1 152.3 152.7

136.3 137.5 138.4 140.3 141.7 142.2

140.4 141.7 142.8 144.5 145.6 146.1

148.9 150.2 152.8 155.4 160.6 161.9

179.9 187.8 192.7 185.3 176.7 176.0

July .............................. August .......................... September ................... October ........................ November .................... December ....................

189.2 189.3 189.6 190.7 191.2 191.2

196.8 196.9 197.5 197.9 198.2 198.5

186.9 186.9 186.8 187.9 188.4 188.4

152.3 151.9 151.4 157.5 159.0 156.9

163.2 162.7 163.0 166.4 166.7 165.6

310.8 311.7 312.7 313.9 314.7 315.6

148.3 148.5 148.9 151.1 152.1 151.7

152.5 152.9 153.3 153.7 154.1 154.4

143.1 144.6 145.1 146.6 147.7 147.8

146.8 148.3 149.5 150.2 150.7 151.3

162.0 161.5 154.2 160.8 173.0 167.6

195.1 199.9 197.4 205.9 212.3 209.4

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

465

Table 20-3. Summary Labor Force, Employment, and Unemployment (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1948 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

102 603 102 698 102 771 102 831 102 923 102 992

60 095 60 524 60 070 60 677 59 972 60 957

58.6 58.9 58.5 59.0 58.3 59.2

39 386 39 480 39 098 39 157 39 139 39 392

14 556 14 621 14 481 15 001 14 712 15 213

4 119 4 095 4 092 4 133 4 003 4 138

8 077 7 696 7 333 7 557 7 141 7 591

49 984 50 500 50 338 50 734 50 713 51 152

56.6 56.7 56.1 56.7 56.2 57.0

2 034 2 328 2 399 2 386 2 118 2 214

311 283 292 324 329 322

3.4 3.8 4.0 3.9 3.5 3.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

103 216 103 240 103 291 103 361 103 424 103 468

61 181 60 806 60 815 60 646 60 702 61 169

59.3 58.9 58.9 58.7 58.7 59.1

39 607 39 510 39 324 39 522 39 459 39 539

15 348 14 994 15 207 14 956 15 054 15 137

4 013 3 952 3 982 3 909 3 904 4 064

7 602 7 562 7 865 7 626 7 624 7 984

51 366 50 894 50 648 50 761 50 793 50 756

57.1 56.6 56.6 56.5 56.5 56.8

2 213 2 350 2 302 2 259 2 285 2 429

295 332 298 324 282 305

3.6 3.9 3.8 3.7 3.8 4.0

1949 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

103 529 103 559 103 665 103 739 103 845 103 930

60 771 61 057 61 073 61 007 61 259 60 948

58.7 59.0 58.9 58.8 59.0 58.6

39 233 39 117 39 015 38 993 38 701 38 632

14 991 15 117 15 069 14 978 15 066 15 003

3 951 3 974 3 959 3 776 3 785 3 537

7 790 8 022 8 008 7 911 8 067 7 802

50 385 50 186 50 035 49 836 49 485 49 370

56.2 56.2 56.0 55.7 55.4 55.0

2 596 2 849 3 030 3 260 3 707 3 776

315 374 414 483 602 705

4.3 4.7 5.0 5.3 6.1 6.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

104 042 104 121 104 219 104 338 104 421 104 524

61 301 61 590 61 633 62 185 62 005 61 908

58.9 59.2 59.1 59.6 59.4 59.2

38 405 38 610 38 744 38 394 38 860 38 908

15 244 15 181 15 129 15 260 15 422 15 300

3 541 3 606 3 711 3 615 3 727 3 637

8 021 7 604 7 297 6 814 7 497 7 379

49 169 49 793 50 287 50 455 50 512 50 466

55.0 55.1 55.3 54.9 55.6 55.3

4 111 4 193 4 049 4 916 3 996 4 063

848 917 973 1 000 1 056 961

6.7 6.8 6.6 7.9 6.4 6.6

1950 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

104 619 104 737 104 844 104 943 105 014 105 104

61 661 61 687 61 604 62 158 62 083 62 419

58.9 58.9 58.8 59.2 59.1 59.4

38 780 38 818 38 851 39 100 39 416 39 476

15 255 15 339 15 366 15 831 15 628 15 953

3 600 3 594 3 511 3 652 3 605 3 623

7 065 7 057 7 116 7 264 7 277 7 285

50 570 50 694 50 612 51 319 51 372 51 767

55.1 55.1 55.1 55.8 55.8 56.2

4 026 3 936 3 876 3 575 3 434 3 367

947 947 912 920 890 868

6.5 6.4 6.3 5.8 5.5 5.4

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

105 194 105 282 105 269 105 096 104 979 104 872

62 121 62 596 62 349 62 428 62 286 62 068

59.1 59.5 59.2 59.4 59.3 59.2

39 517 39 879 39 865 39 737 39 668 39 536

15 793 16 124 15 902 16 175 16 195 16 149

3 691 3 794 3 808 3 891 3 834 3 744

7 126 7 248 6 992 7 371 7 163 6 760

51 875 52 549 52 583 52 432 52 534 52 669

56.1 56.8 56.6 56.9 56.9 56.7

3 120 2 799 2 774 2 625 2 589 2 639

769 633 648 545 507 482

5.0 4.5 4.4 4.2 4.2 4.3

1951 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

104 844 104 604 104 629 104 541 104 491 104 488

61 941 61 778 62 526 61 808 62 044 61 615

59.1 59.1 59.8 59.1 59.4 59.0

39 595 39 695 40 013 39 804 39 752 39 538

16 279 16 257 16 557 16 426 16 581 16 368

3 762 3 709 3 831 3 659 3 855 3 714

6 828 6 738 6 858 6 722 6 752 6 529

52 808 52 923 53 543 53 167 53 436 53 091

56.9 57.0 57.7 57.3 57.6 57.1

2 305 2 117 2 125 1 919 1 856 1 995

438 386 355 294 269 258

3.7 3.4 3.4 3.1 3.0 3.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

104 504 104 536 104 588 104 690 104 740 104 810

62 106 61 927 61 780 62 204 62 014 62 457

59.4 59.2 59.1 59.4 59.2 59.6

39 483 39 508 39 416 39 555 39 504 39 691

16 898 16 665 16 504 16 674 16 669 16 946

3 775 3 821 3 793 3 781 3 663 3 860

6 601 6 790 6 558 6 636 6 699 7 065

53 555 53 204 53 155 53 374 53 137 53 432

57.6 57.4 57.1 57.3 57.1 57.7

1 950 1 933 2 067 2 194 2 178 1 960

260 249 223 269 316 269

3.1 3.1 3.3 3.5 3.5 3.1

1952 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

104 862 104 868 104 860 104 906 104 996 105 118

62 432 62 419 61 721 61 720 62 058 62 103

59.5 59.5 58.9 58.8 59.1 59.1

39 714 39 772 39 580 39 542 39 588 39 558

17 001 16 935 16 627 16 659 16 844 16 837

3 745 3 755 3 701 3 708 3 763 3 824

7 148 7 020 6 468 6 525 6 334 6 529

53 312 53 442 53 440 53 384 53 861 53 690

57.7 57.7 57.1 57.1 57.3 57.3

1 972 1 957 1 813 1 811 1 863 1 884

282 248 234 242 219 210

3.2 3.1 2.9 2.9 3.0 3.0

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

105 246 105 346 105 436 105 591 105 706 105 812

61 962 61 877 62 457 61 971 62 491 62 621

58.9 58.7 59.2 58.7 59.1 59.2

39 496 39 289 39 386 39 451 39 549 40 011

16 778 16 867 17 477 17 032 17 450 17 181

3 697 3 634 3 658 3 649 3 749 3 762

6 334 6 174 6 537 6 363 6 509 6 361

53 637 53 616 53 984 53 769 54 239 54 593

57.0 56.8 57.4 56.9 57.5 57.6

1 991 2 087 1 936 1 839 1 743 1 667

194 211 249 230 216 238

3.2 3.4 3.1 3.0 2.8 2.7

1953 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

106 594 106 678 106 744 106 826 106 910 106 978

63 439 63 520 63 657 63 167 62 615 63 063

59.5 59.5 59.6 59.1 58.6 58.9

40 256 40 546 40 648 40 346 40 323 40 358

17 482 17 321 17 397 17 242 16 983 17 301

3 862 4 017 3 965 3 856 3 713 3 797

6 642 6 463 6 420 6 362 5 937 6 361

54 958 55 421 55 590 55 082 55 082 55 095

57.8 58.0 58.1 57.5 57.1 57.4

1 839 1 636 1 647 1 723 1 596 1 607

268 208 213 180 176 213

2.9 2.6 2.6 2.7 2.5 2.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

107 034 107 132 107 253 107 383 107 504 107 623

63 057 62 816 62 727 62 867 62 949 62 795

58.9 58.6 58.5 58.5 58.6 58.3

40 378 40 352 40 192 40 155 40 163 39 885

17 341 17 108 17 063 17 236 16 974 16 599

3 678 3 691 3 651 3 502 3 601 3 493

6 267 6 319 6 198 6 096 6 345 5 929

55 130 54 832 54 708 54 797 54 393 54 048

57.4 57.1 56.8 56.7 56.5 55.7

1 660 1 665 1 821 1 974 2 211 2 818

168 177 178 190 259 309

2.6 2.7 2.9 3.1 3.5 4.5

1Not

seasonally adjusted.

466

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1954 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

107 763 107 880 107 987 108 080 108 184 108 267

63 101 63 994 63 793 63 934 63 675 63 343

58.6 59.3 59.1 59.2 58.9 58.5

39 834 39 899 39 497 39 613 39 467 39 476

16 574 17 162 17 022 17 015 16 975 16 894

3 616 3 602 3 667 3 557 3 466 3 422

6 073 6 590 6 395 6 142 6 210 6 162

53 951 54 073 53 791 54 043 53 698 53 630

55.7 56.2 55.7 55.7 55.4 55.2

3 077 3 331 3 607 3 749 3 767 3 551

372 532 765 774 879 880

4.9 5.2 5.7 5.9 5.9 5.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

108 344 108 440 108 546 108 668 108 798 108 892

63 302 63 707 64 209 63 936 63 759 63 312

58.4 58.7 59.2 58.8 58.6 58.1

39 467 39 582 39 702 39 618 39 745 39 763

16 777 16 868 17 133 17 209 17 213 17 121

3 399 3 403 3 447 3 443 3 399 3 232

6 222 6 087 6 453 6 242 5 934 5 848

53 421 53 766 53 829 54 028 54 423 54 268

55.0 55.2 55.5 55.5 55.5 55.2

3 659 3 854 3 927 3 666 3 402 3 196

932 1 002 1 017 1 009 975 827

5.8 6.0 6.1 5.7 5.3 5.0

1955 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

109 059 109 078 109 254 109 377 109 544 109 680

63 910 63 696 63 882 64 564 64 381 64 482

58.6 58.4 58.5 59.0 58.8 58.8

39 937 39 964 40 111 40 120 40 410 40 444

17 375 17 413 17 415 17 867 17 665 17 837

3 441 3 350 3 438 3 528 3 559 3 500

6 113 5 854 6 242 6 363 6 327 6 243

54 640 54 873 54 722 55 152 55 307 55 538

55.7 55.7 55.8 56.2 56.3 56.3

3 157 2 969 2 918 3 049 2 747 2 701

882 826 816 811 734 668

4.9 4.7 4.6 4.7 4.3 4.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

109 792 109 882 109 977 110 085 110 177 110 296

65 145 65 581 65 628 65 821 66 037 66 445

59.3 59.7 59.7 59.8 59.9 60.2

40 751 40 747 40 920 40 858 40 936 41 063

18 123 18 377 18 285 18 327 18 422 18 630

3 639 3 673 3 745 3 806 3 899 3 991

6 438 6 575 6 819 6 728 6 655 6 653

56 075 56 222 56 131 56 263 56 602 57 031

56.9 57.1 57.2 57.2 57.4 57.7

2 632 2 784 2 678 2 830 2 780 2 761

640 535 558 572 564 581

4.0 4.2 4.1 4.3 4.2 4.2

1956 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

110 390 110 478 110 582 110 650 110 810 110 903

66 419 66 124 66 175 66 264 66 722 66 702

60.2 59.9 59.8 59.9 60.2 60.1

41 203 41 175 41 199 41 289 41 166 41 196

18 691 18 582 18 496 18 629 18 844 18 748

3 859 3 761 3 716 3 696 3 851 3 876

6 590 6 457 6 221 6 460 6 375 6 335

57 163 57 061 57 190 57 154 57 486 57 485

57.8 57.5 57.3 57.5 57.6 57.5

2 666 2 606 2 764 2 650 2 861 2 882

561 545 521 476 506 516

4.0 3.9 4.2 4.0 4.3 4.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

111 019 111 099 111 222 111 335 111 432 111 526

66 752 66 673 66 714 66 546 66 657 66 700

60.1 60.0 60.0 59.8 59.8 59.8

41 216 41 265 41 221 41 261 41 208 41 192

18 718 18 864 19 019 18 928 18 846 18 859

3 866 3 843 3 839 3 786 3 742 3 859

6 320 6 280 6 375 6 137 5 997 5 806

57 480 57 692 57 704 57 838 57 799 58 104

57.5 57.6 57.6 57.5 57.3 57.3

2 952 2 701 2 635 2 571 2 861 2 790

523 543 577 530 575 567

4.4 4.1 3.9 3.9 4.3 4.2

1957 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

111 626 111 711 111 824 111 933 112 031 112 172

66 428 66 879 66 913 66 647 66 695 67 052

59.5 59.9 59.8 59.5 59.5 59.8

41 168 41 341 41 500 41 345 41 334 41 411

18 740 19 115 19 066 18 937 18 897 18 973

3 724 3 801 3 838 3 765 3 754 3 812

5 790 6 125 5 963 5 836 5 999 6 002

57 842 58 132 58 441 58 211 57 986 58 194

57.0 57.5 57.6 57.2 57.1 57.2

2 796 2 622 2 509 2 600 2 710 2 856

509 530 514 516 538 526

4.2 3.9 3.7 3.9 4.1 4.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

112 317 112 421 112 554 112 710 112 874 113 013

67 336 66 706 67 064 67 066 67 123 67 398

60.0 59.3 59.6 59.5 59.5 59.6

41 472 41 243 41 213 41 069 40 853 40 884

19 262 19 020 19 116 19 160 19 082 19 285

3 806 3 696 3 792 3 817 3 734 3 753

6 401 5 898 5 728 5 875 5 686 6 037

58 139 58 061 58 393 58 171 57 983 57 885

57.5 56.9 57.0 56.8 56.4 56.6

2 796 2 747 2 943 3 020 3 454 3 476

535 542 559 650 674 731

4.2 4.1 4.4 4.5 5.1 5.2

1958 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

113 138 113 234 113 337 113 415 113 534 113 647

67 095 67 201 67 223 67 647 67 895 67 674

59.3 59.3 59.3 59.6 59.8 59.5

40 617 40 336 40 180 40 129 40 253 40 208

19 035 18 951 18 968 18 969 18 978 19 008

3 568 3 611 3 583 3 533 3 643 3 514

5 831 5 654 5 561 5 602 5 647 5 510

57 389 57 244 57 170 57 029 57 227 57 220

55.9 55.5 55.3 55.2 55.4 55.2

3 875 4 303 4 492 5 016 5 021 4 944

879 1 005 1 128 1 387 1 493 1 677

5.8 6.4 6.7 7.4 7.4 7.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

113 727 113 835 113 977 114 138 114 283 114 429

67 824 68 037 68 002 68 045 67 658 67 740

59.6 59.8 59.7 59.6 59.2 59.2

40 270 40 343 40 564 40 699 40 684 40 666

19 039 19 103 19 033 19 091 19 157 19 170

3 436 3 566 3 584 3 685 3 629 3 713

5 525 5 673 5 453 5 563 5 571 5 521

57 220 57 339 57 728 57 912 57 899 58 028

55.2 55.4 55.4 55.6 55.5 55.5

5 079 5 025 4 821 4 570 4 188 4 191

1 796 1 888 1 795 1 708 1 570 1 490

7.5 7.4 7.1 6.7 6.2 6.2

1959 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

114 582 114 712 114 849 114 986 115 144 115 287

67 936 67 649 68 068 68 339 68 178 68 278

59.3 59.0 59.3 59.4 59.2 59.2

40 769 40 699 41 079 41 419 41 355 41 387

19 292 19 167 19 379 19 498 19 565 19 658

3 807 3 818 3 809 3 851 3 779 3 804

5 481 5 429 5 677 5 893 5 792 5 712

58 387 58 255 58 590 58 875 58 907 59 137

55.7 55.5 56.0 56.3 56.2 56.3

4 068 3 965 3 801 3 571 3 479 3 429

1 396 1 277 1 210 1 039 965 963

6.0 5.9 5.6 5.2 5.1 5.0

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

115 429 115 555 115 668 115 798 115 916 116 040

68 539 68 432 68 545 68 821 68 533 68 994

59.4 59.2 59.3 59.4 59.1 59.5

41 596 41 485 41 351 41 362 41 062 41 651

19 595 19 568 19 531 19 702 19 594 19 717

3 820 3 791 3 888 3 847 3 874 3 973

5 564 5 442 5 447 5 355 5 480 5 458

59 447 59 402 59 323 59 556 59 050 59 883

56.3 56.1 56.0 56.1 55.7 56.3

3 528 3 588 3 775 3 910 4 003 3 653

889 889 895 883 982 920

5.1 5.2 5.5 5.7 5.8 5.3

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

467

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1960 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

116 594 116 702 116 827 116 910 117 033 117 167

68 962 68 949 68 399 69 579 69 626 69 934

59.1 59.1 58.5 59.5 59.5 59.7

41 637 41 729 41 320 41 641 41 668 41 553

19 686 19 765 19 388 20 110 20 186 20 290

4 024 4 126 3 965 4 208 4 203 4 325

5 458 5 443 4 959 5 471 5 359 5 416

59 889 60 177 59 714 60 488 60 698 60 752

56.0 56.2 55.4 56.4 56.4 56.5

3 615 3 329 3 726 3 620 3 569 3 766

915 841 959 896 797 854

5.2 4.8 5.4 5.2 5.1 5.4

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

117 281 117 431 117 521 117 643 117 829 118 001

69 745 69 841 70 151 69 884 70 439 70 395

59.5 59.5 59.7 59.4 59.8 59.7

41 490 41 503 41 604 41 464 41 543 41 416

20 257 20 316 20 493 20 076 20 384 20 332

4 162 4 076 4 170 4 092 4 182 4 030

5 542 5 520 5 755 5 436 5 513 5 622

60 367 60 375 60 512 60 196 60 596 60 156

56.2 56.1 56.4 55.8 56.1 55.7

3 836 3 946 3 884 4 252 4 330 4 617

921 927 982 1 189 1 223 1 142

5.5 5.6 5.5 6.1 6.1 6.6

1961 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

118 155 118 250 118 358 118 503 118 638 118 767

70 447 70 420 70 703 70 267 70 452 70 878

59.6 59.6 59.7 59.3 59.4 59.7

41 363 41 177 41 273 41 206 41 139 41 349

20 325 20 392 20 459 20 145 20 261 20 446

4 088 4 019 4 118 4 023 4 049 4 198

5 422 5 472 5 406 5 037 5 099 5 220

60 354 60 116 60 444 60 337 60 350 60 773

55.7 55.5 55.6 55.2 55.2 55.6

4 671 4 832 4 853 4 893 5 003 4 885

1 328 1 416 1 463 1 598 1 686 1 651

6.6 6.9 6.9 7.0 7.1 6.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

118 889 119 006 119 107 119 202 119 153 119 214

70 536 70 534 70 217 70 492 70 376 70 077

59.3 59.3 59.0 59.1 59.1 58.8

41 245 41 362 41 400 41 509 41 556 41 534

20 252 20 279 20 112 20 338 20 330 20 287

4 111 4 211 4 029 4 072 4 195 4 079

5 153 5 366 5 021 5 203 5 090 4 992

60 455 60 486 60 520 60 716 60 991 60 908

55.2 55.3 55.0 55.3 55.5 55.3

4 928 4 682 4 676 4 573 4 295 4 177

1 830 1 649 1 531 1 481 1 388 1 361

7.0 6.6 6.7 6.5 6.1 6.0

1962 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

119 300 119 360 119 476 119 702 119 813 119 943

70 189 70 409 70 414 70 278 70 551 70 514

58.8 59.0 58.9 58.7 58.9 58.8

41 547 41 745 41 696 41 647 41 847 41 761

20 501 20 693 20 567 20 567 20 558 20 547

4 060 4 100 4 230 4 158 4 283 4 362

5 094 5 289 5 157 5 009 4 964 4 943

61 014 61 249 61 336 61 363 61 724 61 727

55.4 55.7 55.7 55.4 55.7 55.6

4 081 3 871 3 921 3 906 3 863 3 844

1 235 1 244 1 162 1 122 1 134 1 079

5.8 5.5 5.6 5.6 5.5 5.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

120 128 120 323 120 653 120 856 121 045 121 236

70 302 70 981 71 153 70 917 70 871 70 854

58.5 59.0 59.0 58.7 58.5 58.4

41 671 41 900 42 020 42 086 41 985 41 934

20 592 20 841 20 982 20 856 20 794 20 831

4 220 4 227 4 190 4 172 4 068 4 182

4 840 4 866 4 867 4 816 4 831 4 647

61 643 62 102 62 325 62 298 62 016 62 300

55.3 55.7 55.7 55.5 55.2 55.2

3 819 4 013 3 961 3 803 4 024 3 907

1 049 1 081 1 096 1 022 1 051 1 068

5.4 5.7 5.6 5.4 5.7 5.5

1963 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

121 463 121 633 121 824 121 986 122 162 122 352

71 146 71 262 71 423 71 697 71 832 71 626

58.6 58.6 58.6 58.8 58.8 58.5

41 938 41 876 42 047 42 131 42 145 42 268

20 933 21 046 21 162 21 281 21 225 21 185

4 201 4 102 4 142 4 230 4 245 4 196

4 882 4 652 4 696 4 670 4 729 4 642

62 190 62 372 62 655 62 972 62 886 63 007

55.2 55.1 55.3 55.5 55.3 55.3

4 074 4 238 4 072 4 055 4 217 3 977

1 122 1 137 1 087 1 071 1 157 1 067

5.7 5.9 5.7 5.7 5.9 5.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

122 521 122 667 122 821 123 014 123 192 123 360

71 956 71 786 72 131 72 281 72 418 72 188

58.7 58.5 58.7 58.8 58.8 58.5

42 427 42 400 42 500 42 437 42 415 42 427

21 268 21 185 21 317 21 456 21 553 21 481

4 210 4 323 4 357 4 401 4 299 4 305

4 694 4 604 4 650 4 702 4 694 4 629

63 211 63 304 63 524 63 592 63 573 63 584

55.4 55.4 55.5 55.5 55.4 55.3

4 051 3 878 3 957 3 987 4 151 3 975

1 070 1 114 1 069 1 071 1 054 1 007

5.6 5.4 5.5 5.5 5.7 5.5

1964 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

123 560 123 707 123 857 124 019 124 204 124 386

72 356 72 683 72 713 73 274 73 395 73 032

58.6 58.8 58.7 59.1 59.1 58.7

42 510 42 579 42 600 42 885 43 025 42 760

21 462 21 652 21 685 22 110 22 103 21 995

4 355 4 520 4 478 4 361 4 503 4 463

4 603 4 563 4 366 4 414 4 603 4 556

63 724 64 188 64 397 64 942 65 028 64 662

55.3 55.6 55.5 55.9 56.1 55.6

4 029 3 932 3 950 3 918 3 764 3 814

1 057 1 015 1 039 934 975 1 047

5.6 5.4 5.4 5.3 5.1 5.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

124 567 124 731 124 920 125 108 125 291 125 468

73 007 73 118 73 290 73 308 73 286 73 465

58.6 58.6 58.7 58.6 58.5 58.6

42 998 42 963 43 009 43 023 43 171 43 109

21 846 22 002 21 863 21 984 21 954 22 136

4 555 4 498 4 706 4 575 4 610 4 569

4 591 4 573 4 619 4 550 4 496 4 322

64 808 64 890 64 959 65 032 65 239 65 492

55.7 55.7 55.7 55.6 55.7 55.6

3 608 3 655 3 712 3 726 3 551 3 651

1 002 934 917 903 922 873

4.9 5.0 5.1 5.1 4.8 5.0

1965 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

125 647 125 810 125 985 126 155 126 320 126 499

73 569 73 857 73 949 74 228 74 466 74 412

58.6 58.7 58.7 58.8 59.0 58.8

43 237 43 279 43 370 43 397 43 579 43 487

22 282 22 276 22 373 22 416 22 494 22 759

4 478 4 572 4 696 4 820 4 961 4 779

4 271 4 322 4 318 4 424 4 724 4 444

65 726 65 805 66 121 66 209 66 310 66 581

55.7 55.7 55.9 56.0 56.2 56.1

3 572 3 730 3 510 3 595 3 432 3 387

793 919 796 796 736 786

4.9 5.1 4.7 4.8 4.6 4.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

126 573 126 756 126 906 127 043 127 171 127 294

74 761 74 616 74 502 74 838 74 797 75 093

59.1 58.9 58.7 58.9 58.8 59.0

43 489 43 447 43 371 43 461 43 447 43 513

22 841 22 783 22 684 22 819 22 829 22 983

5 130 5 132 5 231 5 415 5 448 5 566

4 390 4 355 4 271 4 418 4 093 4 159

67 070 67 007 67 015 67 277 67 631 67 903

56.5 56.3 56.2 56.4 56.4 56.6

3 301 3 254 3 216 3 143 3 073 3 031

683 733 732 672 645 659

4.4 4.4 4.3 4.2 4.1 4.0

1Not

seasonally adjusted.

468

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1966 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

127 394 127 514 127 626 127 744 127 879 127 983

75 186 74 954 75 075 75 338 75 447 75 647

59.0 58.8 58.8 59.0 59.0 59.1

43 495 43 528 43 576 43 679 43 710 43 662

23 098 23 089 23 109 23 227 23 282 23 359

5 605 5 517 5 503 5 604 5 505 5 754

4 077 4 078 4 069 4 108 3 930 3 967

68 121 68 056 68 119 68 402 68 567 68 808

56.7 56.6 56.6 56.8 56.7 56.9

2 988 2 820 2 887 2 828 2 950 2 872

623 594 583 575 534 475

4.0 3.8 3.8 3.8 3.9 3.8

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

128 102 128 240 128 359 128 494 128 627 128 730

75 736 76 046 76 056 76 199 76 610 76 641

59.1 59.3 59.3 59.3 59.6 59.5

43 574 43 636 43 718 43 776 43 804 43 820

23 422 23 605 23 881 23 881 24 130 24 025

5 864 5 905 5 659 5 744 5 906 5 884

3 920 3 921 3 952 3 912 3 945 3 906

68 940 69 225 69 306 69 489 69 895 69 823

56.9 57.0 57.1 57.1 57.4 57.3

2 876 2 900 2 798 2 798 2 770 2 912

427 464 488 494 464 488

3.8 3.8 3.7 3.7 3.6 3.8

1967 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

128 909 129 032 129 190 129 344 129 515 129 722

76 639 76 521 76 328 76 777 76 773 77 270

59.5 59.3 59.1 59.4 59.3 59.6

44 029 43 997 43 922 44 061 44 100 44 230

23 872 23 919 23 832 24 161 24 172 24 303

5 770 5 690 5 685 5 660 5 572 5 745

3 890 3 723 3 757 3 748 3 658 3 689

69 781 69 883 69 682 70 134 70 186 70 589

57.1 57.0 56.8 57.1 57.0 57.3

2 968 2 915 2 889 2 895 2 929 2 992

489 459 436 428 417 422

3.9 3.8 3.8 3.8 3.8 3.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

129 918 130 187 130 392 130 582 130 754 130 936

77 464 77 712 77 812 78 194 78 191 78 491

59.6 59.7 59.7 59.9 59.8 59.9

44 364 44 410 44 535 44 610 44 625 44 719

24 416 24 600 24 683 24 802 24 914 25 104

5 740 5 757 5 636 5 639 5 586 5 650

3 833 3 963 3 851 4 008 3 933 4 076

70 687 70 804 71 003 71 043 71 192 71 397

57.4 57.4 57.4 57.5 57.5 57.6

2 944 2 945 2 958 3 143 3 066 3 018

412 441 448 472 490 485

3.8 3.8 3.8 4.0 3.9 3.8

1968 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

131 112 131 277 131 412 131 553 131 712 131 872

77 578 78 230 78 256 78 270 78 847 79 120

59.2 59.6 59.6 59.5 59.9 60.0

44 606 44 659 44 663 44 753 44 841 44 914

24 581 24 881 25 019 25 072 25 513 25 466

5 513 5 689 5 697 5 736 5 753 5 802

3 908 3 959 3 904 3 875 3 814 3 806

70 792 71 270 71 475 71 686 72 293 72 376

57.0 57.3 57.4 57.4 57.8 57.8

2 878 3 001 2 877 2 709 2 740 2 938

503 468 447 393 395 405

3.7 3.8 3.7 3.5 3.5 3.7

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

132 053 132 251 132 446 132 617 132 903 133 120

78 970 78 811 78 858 78 913 79 209 79 463

59.8 59.6 59.5 59.5 59.6 59.7

44 935 44 897 44 893 44 884 44 996 45 262

25 347 25 201 25 445 25 475 25 674 25 712

5 805 5 945 5 834 5 865 5 824 5 804

3 820 3 736 3 758 3 741 3 758 3 746

72 267 72 307 72 414 72 483 72 736 73 032

57.6 57.5 57.5 57.5 57.6 57.7

2 883 2 768 2 686 2 689 2 715 2 685

426 393 375 386 357 351

3.7 3.5 3.4 3.4 3.4 3.4

1969 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

133 324 133 465 133 639 133 821 134 027 134 213

79 523 80 019 80 079 80 281 80 125 80 696

59.6 60.0 59.9 60.0 59.8 60.1

45 154 45 339 45 305 45 262 45 278 45 313

25 777 26 092 26 115 26 233 26 283 26 429

5 874 5 896 5 947 6 028 5 851 6 138

3 704 3 770 3 668 3 629 3 706 3 663

73 101 73 557 73 699 73 894 73 706 74 217

57.6 57.9 57.9 57.9 57.8 58.0

2 718 2 692 2 712 2 758 2 713 2 816

339 358 353 386 387 368

3.4 3.4 3.4 3.4 3.4 3.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

134 414 134 597 134 774 135 012 135 239 135 489

80 827 81 106 81 290 81 494 81 397 81 624

60.1 60.3 60.3 60.4 60.2 60.2

45 305 45 513 45 447 45 488 45 505 45 577

26 516 26 556 26 572 26 658 26 652 26 832

6 138 6 181 6 231 6 299 6 384 6 331

3 548 3 613 3 551 3 517 3 477 3 409

74 411 74 637 74 699 74 928 75 064 75 331

58.0 58.1 58.1 58.1 58.1 58.1

2 868 2 856 3 040 3 049 2 856 2 884

377 373 391 374 392 413

3.5 3.5 3.7 3.7 3.5 3.5

1970 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

135 713 135 957 136 179 136 416 136 686 136 928

81 981 82 151 82 498 82 727 82 483 82 484

60.4 60.4 60.6 60.6 60.3 60.2

45 654 45 627 45 668 45 679 45 666 45 554

26 908 26 828 26 933 27 114 26 739 26 904

6 218 6 243 6 262 6 137 6 159 5 955

3 422 3 439 3 499 3 568 3 547 3 555

75 358 75 259 75 364 75 362 75 017 74 858

58.0 57.9 57.9 57.9 57.5 57.3

3 201 3 453 3 635 3 797 3 919 4 071

431 470 534 602 591 657

3.9 4.2 4.4 4.6 4.8 4.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

137 196 137 455 137 717 137 988 138 264 138 529

82 901 82 880 82 954 83 276 83 548 83 670

60.4 60.3 60.2 60.4 60.4 60.4

45 516 45 495 45 535 45 508 45 540 45 466

27 083 27 011 26 784 27 058 27 020 27 038

6 127 6 118 6 179 6 119 6 090 6 090

3 517 3 418 3 451 3 337 3 372 3 380

75 209 75 206 75 047 75 348 75 278 75 214

57.4 57.2 57.0 57.0 56.9 56.7

4 175 4 256 4 456 4 591 4 898 5 076

662 705 788 771 871 1 102

5.0 5.1 5.4 5.5 5.9 6.1

1971 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

138 795 139 021 139 285 139 566 139 826 140 090

83 850 83 603 83 575 83 946 84 135 83 706

60.4 60.1 60.0 60.1 60.2 59.8

45 527 45 455 45 520 45 789 45 917 45 879

27 173 27 040 26 967 26 984 27 056 27 013

6 164 6 205 6 101 6 214 6 166 5 865

3 393 3 288 3 356 3 574 3 449 3 334

75 471 75 412 75 232 75 413 75 690 75 423

56.8 56.6 56.4 56.6 56.6 56.2

4 986 4 903 4 987 4 959 4 996 4 949

1 113 1 068 1 098 1 149 1 173 1 167

5.9 5.9 6.0 5.9 5.9 5.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

140 343 140 596 140 869 141 146 141 393 141 666

84 340 84 673 84 731 84 872 85 458 85 625

60.1 60.2 60.1 60.1 60.4 60.4

46 000 46 041 46 090 46 132 46 209 46 280

27 054 27 171 27 390 27 538 27 721 27 791

6 251 6 327 6 209 6 248 6 367 6 400

3 386 3 395 3 367 3 405 3 410 3 371

75 919 76 144 76 322 76 513 76 887 77 100

56.5 56.6 56.6 56.6 56.8 56.8

5 035 5 134 5 042 4 954 5 161 5 154

1 251 1 261 1 239 1 268 1 277 1 283

6.0 6.1 6.0 5.8 6.0 6.0

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

469

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1972 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

142 736 143 017 143 263 143 483 143 760 144 033

85 978 86 036 86 611 86 614 86 809 87 006

60.2 60.2 60.5 60.4 60.4 60.4

46 471 46 600 46 821 46 863 46 950 47 147

27 956 28 016 28 126 28 114 28 184 28 175

6 532 6 492 6 626 6 678 6 753 6 761

3 366 3 358 3 438 3 382 3 412 3 402

77 593 77 750 78 135 78 273 78 475 78 681

56.7 56.7 56.9 56.9 57.0 57.0

5 019 4 928 5 038 4 959 4 922 4 923

1 257 1 292 1 232 1 203 1 168 1 141

5.8 5.7 5.8 5.7 5.7 5.7

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

144 285 144 522 144 761 144 988 145 211 145 446

87 143 87 517 87 392 87 491 87 592 87 943

60.4 60.6 60.4 60.3 60.3 60.5

47 244 47 321 47 394 47 354 47 529 47 747

28 225 28 382 28 417 28 438 28 567 28 698

6 761 6 875 6 732 6 824 6 894 6 955

3 461 3 603 3 568 3 634 3 517 3 596

78 769 78 975 78 975 78 982 79 473 79 804

57.0 57.1 57.0 57.0 57.2 57.3

4 913 4 939 4 849 4 875 4 602 4 543

1 154 1 156 1 131 1 123 1 040 1 006

5.6 5.6 5.5 5.6 5.3 5.2

1973 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

145 720 145 943 146 230 146 459 146 719 146 981

87 487 88 364 88 846 89 018 88 977 89 548

60.0 60.5 60.8 60.8 60.6 60.9

47 701 47 884 48 117 48 098 48 068 48 244

28 596 28 995 29 110 29 304 29 432 29 505

6 864 7 033 7 225 7 157 7 148 7 436

3 456 3 415 3 469 3 407 3 376 3 509

79 705 80 497 80 983 81 152 81 272 81 676

57.1 57.5 57.8 57.7 57.7 58.0

4 326 4 452 4 394 4 459 4 329 4 363

947 894 889 809 816 779

4.9 5.0 4.9 5.0 4.9 4.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

147 233 147 471 147 731 147 980 148 219 148 479

89 604 89 509 89 838 90 131 90 716 90 890

60.9 60.7 60.8 60.9 61.2 61.2

48 452 48 353 48 408 48 631 48 764 48 902

29 592 29 578 29 710 29 885 30 071 29 991

7 255 7 273 7 370 7 471 7 485 7 508

3 540 3 425 3 342 3 424 3 593 3 658

81 759 81 779 82 146 82 563 82 727 82 743

57.9 57.8 57.9 58.1 58.2 58.2

4 305 4 305 4 350 4 144 4 396 4 489

756 788 785 793 832 767

4.8 4.8 4.8 4.6 4.8 4.9

1974 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

148 753 148 982 149 225 149 478 149 750 150 012

91 199 91 485 91 453 91 287 91 596 91 868

61.3 61.4 61.3 61.1 61.2 61.2

49 107 49 057 48 986 48 853 49 039 48 946

29 893 30 146 30 293 30 376 30 424 30 512

7 555 7 551 7 540 7 440 7 428 7 483

3 756 3 824 3 726 3 582 3 529 3 386

82 799 82 930 83 093 83 087 83 362 83 555

58.2 58.2 58.2 58.0 58.0 58.0

4 644 4 731 4 634 4 618 4 705 4 927

799 829 849 889 880 926

5.1 5.2 5.1 5.1 5.1 5.4

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

150 248 150 493 150 753 151 009 151 256 151 494

92 212 92 059 92 488 92 518 92 766 92 780

61.4 61.2 61.4 61.3 61.3 61.2

48 883 48 950 48 978 48 959 48 833 48 458

30 869 30 662 30 569 30 570 30 424 30 431

7 397 7 425 7 504 7 466 7 369 7 255

3 436 3 429 3 460 3 431 3 405 3 361

83 713 83 608 83 591 83 564 83 221 82 783

58.0 57.8 57.7 57.6 57.3 56.9

5 063 5 022 5 437 5 523 6 140 6 636

924 960 1 021 1 072 1 128 1 326

5.5 5.5 5.9 6.0 6.6 7.2

1975 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

151 755 151 990 152 217 152 443 152 704 152 976

93 128 92 776 93 165 93 399 93 884 93 575

61.4 61.0 61.2 61.3 61.5 61.2

48 086 47 927 47 776 47 759 47 835 47 754

30 343 30 215 30 334 30 410 30 483 30 618

7 198 7 114 7 077 7 020 7 133 6 983

3 401 3 361 3 358 3 315 3 560 3 368

82 226 81 895 81 829 81 874 81 891 81 987

56.4 56.1 56.0 55.9 56.0 55.8

7 501 7 520 7 978 8 210 8 433 8 220

1 555 1 841 2 074 2 442 2 643 2 843

8.1 8.1 8.6 8.8 9.0 8.8

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

153 309 153 580 153 848 154 082 154 338 154 589

94 021 94 162 94 202 94 267 94 250 94 409

61.3 61.3 61.2 61.2 61.1 61.1

48 050 48 239 48 126 48 165 48 203 48 266

30 794 30 966 30 979 31 121 31 135 31 268

7 050 7 029 7 174 7 084 7 118 7 131

3 457 3 429 3 508 3 397 3 331 3 259

82 437 82 805 82 771 82 973 83 125 83 406

56.0 56.1 56.1 56.1 56.0 56.1

8 127 7 928 7 923 7 897 7 794 7 744

2 943 2 862 2 906 2 689 2 789 2 868

8.6 8.4 8.4 8.4 8.3 8.2

1976 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

154 853 155 066 155 306 155 529 155 765 156 027

94 934 94 998 95 215 95 746 95 847 95 885

61.3 61.3 61.3 61.6 61.5 61.5

48 592 48 721 48 836 49 097 49 193 49 010

31 595 31 680 31 842 31 951 32 147 32 267

7 213 7 271 7 307 7 368 7 454 7 286

3 387 3 304 3 296 3 438 3 367 3 310

84 013 84 368 84 689 84 978 85 427 85 253

56.4 56.5 56.7 56.8 57.0 56.8

7 534 7 326 7 230 7 330 7 053 7 322

2 713 2 519 2 441 2 210 2 115 2 332

7.9 7.7 7.6 7.7 7.4 7.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

156 276 156 525 156 779 156 993 157 235 157 438

96 583 96 741 96 553 96 704 97 254 97 348

61.8 61.8 61.6 61.6 61.9 61.8

49 236 49 417 49 485 49 524 49 561 49 599

32 334 32 437 32 390 32 412 32 753 32 914

7 523 7 369 7 298 7 338 7 320 7 290

3 358 3 380 3 278 3 316 3 263 3 251

85 735 85 843 85 895 85 958 86 371 86 552

57.0 57.0 56.9 56.9 57.0 57.0

7 490 7 518 7 380 7 430 7 620 7 545

2 316 2 378 2 296 2 292 2 354 2 375

7.8 7.8 7.6 7.7 7.8 7.8

1977 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

157 688 157 913 158 131 158 371 158 657 158 929

97 208 97 785 98 115 98 330 98 665 99 093

61.6 61.9 62.0 62.1 62.2 62.4

49 738 49 838 50 031 50 185 50 280 50 544

32 872 32 997 33 246 33 470 33 851 33 678

7 318 7 507 7 531 7 616 7 623 7 737

3 185 3 222 3 212 3 313 3 432 3 340

86 743 87 120 87 596 87 958 88 322 88 619

57.0 57.2 57.4 57.6 57.8 57.9

7 280 7 443 7 307 7 059 6 911 7 134

2 200 2 174 2 057 1 936 1 928 1 918

7.5 7.6 7.4 7.2 7.0 7.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

159 185 159 430 159 674 159 915 160 129 160 377

98 913 99 366 99 453 99 815 100 576 100 491

62.1 62.3 62.3 62.4 62.8 62.7

50 597 50 745 50 825 51 046 51 316 51 492

33 749 33 809 34 218 34 187 34 536 34 668

7 738 7 887 7 659 7 819 7 909 7 945

3 247 3 260 3 201 3 272 3 375 3 320

88 837 89 181 89 501 89 780 90 386 90 785

57.8 58.0 58.1 58.2 58.6 58.7

6 829 6 925 6 751 6 763 6 815 6 386

1 907 1 836 1 853 1 789 1 804 1 717

6.9 7.0 6.8 6.8 6.8 6.4

1Not

seasonally adjusted.

470

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1978 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

160 617 160 831 161 038 161 263 161 518 161 795

100 873 100 837 101 092 101 574 101 896 102 371

62.8 62.7 62.8 63.0 63.1 63.3

51 542 51 578 51 635 51 912 52 050 52 240

34 948 35 118 35 310 35 546 35 597 35 828

7 894 7 823 7 810 7 936 8 122 8 275

3 434 3 320 3 351 3 349 3 325 3 483

90 950 91 199 91 404 92 045 92 444 92 860

58.8 58.8 58.8 59.2 59.3 59.5

6 489 6 318 6 337 6 180 6 127 6 028

1 643 1 584 1 531 1 502 1 420 1 352

6.4 6.3 6.3 6.1 6.0 5.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

162 034 162 259 162 502 162 783 163 017 163 272

102 399 102 511 102 795 103 080 103 562 103 809

63.2 63.2 63.3 63.3 63.5 63.6

52 190 52 228 52 284 52 448 52 802 52 807

35 764 35 856 36 274 36 525 36 559 36 686

8 136 8 347 8 112 8 160 8 124 8 088

3 441 3 401 3 400 3 409 3 284 3 396

92 649 93 030 93 270 93 724 94 201 94 185

59.3 59.4 59.5 59.7 59.8 59.8

6 309 6 080 6 125 5 947 6 077 6 228

1 373 1 242 1 308 1 319 1 242 1 269

6.2 5.9 6.0 5.8 5.9 6.0

1979 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

163 516 163 726 164 027 164 162 164 459 164 721

104 057 104 502 104 589 104 172 104 171 104 638

63.6 63.8 63.8 63.5 63.3 63.5

53 072 53 233 53 120 53 085 53 178 53 309

36 697 36 904 37 159 36 944 37 134 37 221

8 179 8 192 8 201 8 074 8 019 8 149

3 305 3 373 3 368 3 291 3 272 3 331

94 643 94 956 95 112 94 812 95 059 95 348

59.9 60.1 60.0 59.8 59.8 59.9

6 109 6 173 6 109 6 069 5 840 5 959

1 250 1 297 1 365 1 272 1 239 1 171

5.9 5.9 5.8 5.8 5.6 5.7

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

164 970 165 198 165 431 165 813 166 051 166 300

105 002 105 096 105 530 105 700 105 812 106 258

63.6 63.6 63.8 63.7 63.7 63.9

53 384 53 336 53 510 53 478 53 435 53 555

37 514 37 548 37 798 37 931 38 065 38 259

8 108 7 892 8 032 7 995 8 074 8 119

3 335 3 374 3 371 3 325 3 436 3 400

95 671 95 402 95 969 96 079 96 138 96 533

60.0 59.8 60.0 59.9 60.0 60.1

5 996 6 320 6 190 6 296 6 238 6 325

1 123 1 203 1 172 1 219 1 239 1 277

5.7 6.0 5.9 6.0 5.9 6.0

1980 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

166 544 166 759 166 984 167 197 167 407 167 643

106 562 106 697 106 442 106 591 106 929 106 780

64.0 64.0 63.7 63.8 63.9 63.7

53 501 53 686 53 353 53 035 52 915 52 712

38 367 38 389 38 406 38 427 38 335 38 312

8 011 7 920 7 954 7 771 7 695 7 658

3 316 3 397 3 418 3 326 3 382 3 296

96 563 96 598 96 295 95 907 95 563 95 386

60.0 60.0 59.7 59.4 59.1 58.9

6 683 6 702 6 729 7 358 7 984 8 098

1 353 1 358 1 457 1 694 1 740 1 760

6.3 6.3 6.3 6.9 7.5 7.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

167 932 168 103 168 297 168 503 168 695 168 883

107 159 107 105 107 098 107 405 107 568 107 352

63.8 63.7 63.6 63.7 63.8 63.6

52 733 52 815 52 866 53 094 53 210 53 333

38 374 38 511 38 595 38 620 38 795 38 737

7 689 7 498 7 616 7 603 7 540 7 564

3 319 3 234 3 443 3 372 3 396 3 492

95 477 95 590 95 634 95 945 96 149 96 142

58.8 58.8 58.9 58.9 59.0 59.0

8 363 8 281 8 021 8 088 8 023 7 718

1 995 2 162 2 309 2 306 2 329 2 406

7.8 7.7 7.5 7.5 7.5 7.2

1981 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

169 104 169 280 169 453 169 641 169 829 170 042

108 026 108 242 108 553 108 925 109 222 108 396

63.9 63.9 64.1 64.2 64.3 63.7

53 392 53 445 53 662 53 886 53 879 53 576

39 042 39 280 39 464 39 628 39 759 39 682

7 521 7 466 7 445 7 542 7 410 7 040

3 429 3 345 3 365 3 529 3 369 3 334

96 526 96 846 97 206 97 527 97 679 96 964

59.1 59.2 59.4 59.6 59.5 59.0

8 071 8 051 7 982 7 869 8 174 8 098

2 389 2 344 2 276 2 231 2 221 2 250

7.5 7.4 7.4 7.2 7.5 7.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

170 246 170 399 170 593 170 809 170 996 171 166

108 556 108 725 108 294 109 024 109 236 108 912

63.8 63.8 63.5 63.8 63.9 63.6

53 814 53 718 53 625 53 482 53 335 53 149

39 683 39 723 39 342 39 843 39 908 39 708

7 196 7 248 7 097 7 053 6 964 6 788

3 296 3 379 3 361 3 412 3 415 3 227

97 397 97 310 96 703 96 966 96 792 96 418

59.1 59.1 58.7 58.8 58.6 58.2

7 863 8 036 8 230 8 646 9 029 9 267

2 166 2 241 2 261 2 303 2 345 2 374

7.2 7.4 7.6 7.9 8.3 8.5

1982 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

171 335 171 489 171 667 171 844 172 026 172 190

109 089 109 467 109 567 109 820 110 451 110 081

63.7 63.8 63.8 63.9 64.2 63.9

53 103 53 172 53 054 53 081 53 234 52 933

39 821 39 859 39 936 39 848 40 121 40 219

6 768 6 731 6 682 6 647 6 761 6 391

3 393 3 375 3 372 3 351 3 434 3 331

96 299 96 387 96 300 96 225 96 682 96 212

58.2 58.2 58.1 57.9 58.2 57.8

9 397 9 705 9 895 10 244 10 335 10 538

2 409 2 758 2 965 3 086 3 276 3 451

8.6 8.9 9.0 9.3 9.4 9.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

172 364 172 511 172 690 172 881 173 058 173 199

110 342 110 514 110 721 110 744 111 050 111 083

64.0 64.1 64.1 64.1 64.2 64.1

52 896 52 797 52 760 52 624 52 537 52 497

40 228 40 336 40 275 40 105 40 111 40 164

6 369 6 500 6 469 6 486 6 464 6 371

3 402 3 408 3 385 3 489 3 510 3 414

96 091 96 225 96 119 95 726 95 602 95 618

57.7 57.8 57.6 57.4 57.3 57.2

10 849 10 881 11 217 11 529 11 938 12 051

3 555 3 696 3 889 4 185 4 485 4 662

9.8 9.8 10.1 10.4 10.8 10.8

1983 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

173 354 173 505 173 656 173 794 173 953 174 125

110 695 110 634 110 587 110 828 110 796 111 879

63.9 63.8 63.7 63.8 63.7 64.3

52 487 52 453 52 615 52 814 52 922 53 515

40 268 40 336 40 368 40 542 40 538 40 695

6 406 6 300 6 196 6 204 6 182 6 423

3 439 3 382 3 360 3 341 3 328 3 462

95 722 95 707 95 819 96 219 96 314 97 171

57.2 57.1 57.1 57.3 57.3 57.8

11 534 11 545 11 408 11 268 11 154 11 246

4 668 4 641 4 612 4 370 4 538 4 470

10.4 10.4 10.3 10.2 10.1 10.1

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

174 306 174 440 174 602 174 779 174 951 175 121

111 756 112 231 112 298 111 926 112 228 112 327

64.1 64.3 64.3 64.0 64.1 64.1

53 835 53 837 53 983 54 146 54 499 54 662

41 041 41 314 41 650 41 597 41 788 41 852

6 332 6 457 6 383 6 296 6 442 6 482

3 481 3 502 3 347 3 303 3 291 3 332

97 727 98 106 98 669 98 736 99 438 99 664

58.1 58.2 58.4 58.4 58.7 58.8

10 548 10 623 10 282 9 887 9 499 9 331

4 329 4 070 3 854 3 648 3 535 3 379

9.4 9.5 9.2 8.8 8.5 8.3

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

471

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1984 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

175 533 175 679 175 824 175 969 176 123 176 284

112 209 112 615 112 713 113 098 113 649 113 817

63.9 64.1 64.1 64.3 64.5 64.6

54 975 55 213 55 281 55 373 55 661 55 996

41 812 42 196 42 328 42 512 43 071 42 944

6 414 6 415 6 358 6 451 6 461 6 651

3 293 3 353 3 233 3 291 3 343 3 383

99 908 100 471 100 734 101 045 101 850 102 208

58.8 59.1 59.1 59.3 59.7 59.9

9 008 8 791 8 746 8 762 8 456 8 226

3 254 2 991 2 881 2 858 2 884 2 612

8.0 7.8 7.8 7.7 7.4 7.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

176 440 176 583 176 763 176 956 177 135 177 306

113 972 113 682 113 857 114 019 114 170 114 581

64.6 64.4 64.4 64.4 64.5 64.6

55 921 55 930 56 095 56 183 56 274 56 313

42 979 42 885 42 967 43 052 43 244 43 472

6 535 6 348 6 428 6 403 6 454 6 438

3 344 3 286 3 393 3 194 3 394 3 385

102 091 101 877 102 097 102 444 102 578 102 838

59.8 59.6 59.7 59.7 59.8 59.9

8 537 8 519 8 367 8 381 8 198 8 358

2 638 2 604 2 538 2 526 2 438 2 401

7.5 7.5 7.3 7.4 7.2 7.3

1985 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

177 384 177 516 177 667 177 799 177 944 178 096

114 725 114 876 115 328 115 331 115 234 114 965

64.7 64.7 64.9 64.9 64.8 64.6

56 184 56 216 56 356 56 374 56 531 56 288

43 589 43 787 44 035 44 000 43 905 43 958

6 529 6 552 6 598 6 562 6 496 6 259

3 317 3 317 3 250 3 306 3 280 3 161

102 985 103 238 103 739 103 630 103 652 103 344

59.9 60.0 60.2 60.1 60.1 59.8

8 423 8 321 8 339 8 395 8 302 8 460

2 284 2 389 2 394 2 393 2 292 2 310

7.3 7.2 7.2 7.3 7.2 7.4

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

178 263 178 405 178 572 178 770 178 940 179 112

115 320 115 291 115 905 116 145 116 135 116 354

64.7 64.6 64.9 65.0 64.9 65.0

56 435 56 655 56 845 56 969 56 972 56 995

43 975 44 103 44 395 44 565 44 617 44 889

6 397 6 337 6 417 6 313 6 418 6 332

3 143 3 121 3 064 3 051 3 062 3 141

103 664 103 974 104 593 104 796 104 945 105 075

59.9 60.0 60.3 60.3 60.4 60.4

8 513 8 196 8 248 8 298 8 128 8 138

2 329 2 258 2 242 2 295 2 207 2 208

7.4 7.1 7.1 7.1 7.0 7.0

1986 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

179 670 179 821 179 985 180 148 180 311 180 503

116 682 116 882 117 220 117 316 117 528 118 084

64.9 65.0 65.1 65.1 65.2 65.4

57 637 57 269 57 353 57 358 57 287 57 471

44 944 44 804 44 960 45 081 45 289 45 621

6 306 6 407 6 524 6 513 6 513 6 484

3 287 3 083 3 200 3 153 3 150 3 193

105 600 105 397 105 637 105 799 105 939 106 383

60.6 60.3 60.5 60.5 60.5 60.7

7 795 8 402 8 383 8 364 8 439 8 508

2 089 2 308 2 261 2 162 2 232 2 320

6.7 7.2 7.2 7.1 7.2 7.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

180 682 180 828 180 997 181 186 181 363 181 547

118 129 118 150 118 395 118 516 118 634 118 611

65.4 65.3 65.4 65.4 65.4 65.3

57 514 57 597 57 630 57 660 57 941 58 185

45 837 45 926 45 972 46 046 46 070 46 132

6 459 6 492 6 483 6 567 6 464 6 411

3 141 3 082 3 171 3 128 3 220 3 148

106 669 106 933 106 914 107 145 107 255 107 580

60.8 60.8 60.8 60.9 60.9 61.0

8 319 8 135 8 310 8 243 8 159 7 883

2 269 2 276 2 318 2 188 2 202 2 161

7.0 6.9 7.0 7.0 6.9 6.6

1987 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

181 827 181 998 182 179 182 344 182 533 182 703

118 845 119 122 119 270 119 336 120 008 119 644

65.4 65.5 65.5 65.4 65.7 65.5

58 264 58 279 58 362 58 503 58 713 58 581

46 219 46 444 46 549 46 746 47 052 47 102

6 470 6 534 6 497 6 545 6 669 6 563

3 143 3 208 3 214 3 246 3 345 3 216

107 810 108 049 108 194 108 548 109 089 109 030

61.0 61.1 61.2 61.3 61.6 61.4

7 892 7 865 7 862 7 542 7 574 7 398

2 168 2 117 2 070 2 091 2 104 2 087

6.6 6.6 6.6 6.3 6.3 6.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

182 885 183 002 183 161 183 311 183 470 183 620

119 902 120 318 120 011 120 509 120 540 120 729

65.6 65.7 65.5 65.7 65.7 65.7

58 740 58 810 58 964 59 073 59 210 59 217

47 229 47 322 47 285 47 533 47 622 47 781

6 665 6 925 6 660 6 676 6 673 6 795

3 235 3 112 3 189 3 219 3 145 3 213

109 399 109 945 109 720 110 063 110 360 110 580

61.6 61.8 61.6 61.8 61.9 62.0

7 268 7 261 7 102 7 227 7 035 6 936

1 921 1 878 1 866 1 794 1 797 1 767

6.1 6.0 5.9 6.0 5.8 5.7

1988 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

183 822 183 969 184 111 184 232 184 374 184 562

120 969 121 156 120 913 121 251 121 071 121 473

65.8 65.9 65.7 65.8 65.7 65.8

59 346 59 535 59 393 59 832 59 644 59 751

47 862 47 919 48 090 48 147 47 946 48 146

6 808 6 773 6 554 6 671 6 702 7 030

3 247 3 201 3 169 3 224 3 121 3 111

110 769 111 026 110 868 111 426 111 171 111 816

62.0 62.1 61.9 62.2 62.0 62.3

6 953 6 929 6 876 6 601 6 779 6 546

1 714 1 738 1 744 1 563 1 647 1 531

5.7 5.7 5.7 5.4 5.6 5.4

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

184 729 184 830 184 962 185 114 185 244 185 402

121 665 122 125 121 960 122 206 122 637 122 622

65.9 66.1 65.9 66.0 66.2 66.1

59 888 59 877 59 980 60 023 60 042 60 059

48 186 48 467 48 511 48 859 49 254 49 257

6 986 6 938 6 865 6 756 6 804 6 788

3 060 3 119 3 165 3 231 3 241 3 194

112 000 112 163 112 191 112 407 112 859 112 910

62.3 62.4 62.4 62.5 62.7 62.6

6 605 6 843 6 604 6 568 6 537 6 518

1 601 1 639 1 569 1 562 1 468 1 490

5.4 5.6 5.4 5.4 5.3 5.3

1989 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

185 644 185 777 185 897 186 024 186 181 186 329

123 390 123 135 123 227 123 565 123 474 123 995

66.5 66.3 66.3 66.4 66.3 66.5

60 477 60 588 60 795 60 764 60 795 61 054

49 529 49 497 49 503 49 565 49 583 49 542

6 702 6 691 6 724 6 768 6 721 6 822

3 287 3 234 3 198 3 162 3 125 3 068

113 421 113 542 113 824 113 935 113 974 114 350

62.9 62.9 62.9 62.9 62.9 63.0

6 682 6 359 6 205 6 468 6 375 6 577

1 480 1 304 1 353 1 397 1 348 1 300

5.4 5.2 5.0 5.2 5.2 5.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

186 483 186 598 186 726 186 871 187 017 187 165

123 967 124 166 123 944 124 211 124 637 124 497

66.5 66.5 66.4 66.5 66.6 66.5

60 947 60 915 60 668 60 958 60 958 61 068

49 693 49 804 50 015 49 871 50 221 50 116

6 832 6 936 6 671 6 752 6 733 6 646

3 227 3 284 3 219 3 215 3 132 3 188

114 245 114 371 114 135 114 366 114 780 114 642

63.0 63.1 62.8 62.9 63.0 63.0

6 495 6 511 6 590 6 630 6 725 6 667

1 435 1 302 1 360 1 392 1 418 1 375

5.2 5.2 5.3 5.3 5.4 5.4

1Not

seasonally adjusted.

472

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1990 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

188 413 188 516 188 630 188 778 188 913 189 058

125 833 125 710 125 801 125 649 125 893 125 573

66.8 66.7 66.7 66.6 66.6 66.4

61 742 61 805 61 832 61 579 61 778 61 762

50 436 50 438 50 463 50 457 50 646 50 550

6 903 6 816 6 908 6 816 6 727 6 671

3 210 3 188 3 260 3 231 3 266 3 245

115 871 115 871 115 943 115 621 115 885 115 738

63.2 63.2 63.2 63.0 63.1 62.9

6 752 6 651 6 598 6 797 6 742 6 590

1 412 1 350 1 331 1 376 1 415 1 436

5.4 5.3 5.2 5.4 5.4 5.2

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

189 188 189 342 189 528 189 710 189 872 190 017

125 732 125 990 125 892 125 995 126 070 126 142

66.5 66.5 66.4 66.4 66.4 66.4

61 683 61 715 61 608 61 606 61 545 61 506

50 514 50 635 50 587 50 616 50 541 50 530

6 613 6 452 6 329 6 314 6 220 6 205

3 192 3 197 3 206 3 270 3 189 3 245

115 618 115 605 115 318 115 266 115 117 114 996

62.8 62.7 62.5 62.5 62.3 62.2

6 922 7 188 7 368 7 459 7 764 7 901

1 534 1 607 1 695 1 689 1 831 1 804

5.5 5.7 5.9 5.9 6.2 6.3

1991 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

190 163 190 271 190 381 190 517 190 650 190 800

125 955 126 020 126 238 126 548 126 176 126 331

66.2 66.2 66.3 66.4 66.2 66.2

61 383 61 117 61 144 61 280 61 052 61 147

50 472 50 523 50 422 50 760 50 457 50 585

6 085 6 115 6 086 6 069 5 931 5 907

3 208 3 270 3 177 3 241 3 275 3 300

114 732 114 485 114 475 114 868 114 165 114 339

62.0 61.9 61.8 62.0 61.6 61.7

8 015 8 265 8 586 8 439 8 736 8 692

1 866 1 955 2 137 2 206 2 252 2 533

6.4 6.6 6.8 6.7 6.9 6.9

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

190 946 191 116 191 302 191 497 191 657 191 798

126 154 126 150 126 650 126 642 126 701 126 664

66.1 66.0 66.2 66.1 66.1 66.0

61 179 61 122 61 279 61 174 61 201 61 074

50 636 50 601 50 864 50 811 50 759 50 728

5 753 5 761 5 785 5 815 5 810 5 664

3 319 3 313 3 319 3 289 3 296 3 146

114 249 114 171 114 609 114 511 114 474 114 320

61.6 61.5 61.6 61.5 61.4 61.2

8 586 8 666 8 722 8 842 8 931 9 198

2 388 2 460 2 497 2 638 2 718 2 892

6.8 6.9 6.9 7.0 7.0 7.3

1992 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

191 953 192 067 192 204 192 354 192 503 192 663

127 261 127 207 127 604 127 841 128 119 128 459

66.3 66.2 66.4 66.5 66.6 66.7

61 116 61 062 61 363 61 468 61 513 61 537

51 095 51 033 51 204 51 323 51 245 51 383

5 767 5 658 5 577 5 635 5 617 5 499

3 155 3 239 3 236 3 245 3 213 3 297

114 823 114 514 114 908 115 181 115 162 115 122

61.5 61.3 61.5 61.6 61.5 61.5

9 283 9 454 9 460 9 415 9 744 10 040

3 060 3 182 3 196 3 130 3 444 3 758

7.3 7.4 7.4 7.4 7.6 7.8

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

192 826 193 018 193 229 193 442 193 621 193 784

128 563 128 613 128 501 128 026 128 441 128 554

66.7 66.6 66.5 66.2 66.3 66.3

61 641 61 681 61 663 61 550 61 644 61 721

51 458 51 386 51 359 51 373 51 535 51 524

5 614 5 759 5 698 5 705 5 697 5 752

3 285 3 279 3 274 3 254 3 207 3 259

115 428 115 547 115 446 115 374 115 669 115 738

61.6 61.6 61.4 61.3 61.4 61.4

9 850 9 787 9 781 9 398 9 565 9 557

3 614 3 579 3 504 3 505 3 397 3 651

7.7 7.6 7.6 7.3 7.4 7.4

1993 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

193 962 194 108 194 248 194 398 194 549 194 719

128 400 128 458 128 598 128 584 129 264 129 411

66.2 66.2 66.2 66.1 66.4 66.5

61 895 61 963 62 007 62 032 62 309 62 409

51 505 51 573 51 808 51 732 51 996 52 183

5 675 5 739 5 727 5 710 5 810 5 698

3 222 3 125 3 119 3 074 3 100 3 108

115 853 116 150 116 423 116 400 117 015 117 182

61.4 61.4 61.5 61.5 61.7 61.8

9 325 9 183 9 056 9 110 9 149 9 121

3 346 3 190 3 115 3 014 3 101 3 141

7.3 7.1 7.0 7.1 7.1 7.0

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

194 882 195 063 195 259 195 444 195 625 195 794

129 397 129 619 129 268 129 573 129 711 129 941

66.4 66.4 66.2 66.3 66.3 66.4

62 497 62 634 62 437 62 614 62 732 62 760

52 088 52 294 52 241 52 379 52 531 52 813

5 882 5 928 5 876 5 830 5 906 5 891

3 126 3 026 3 174 3 084 3 157 3 116

117 341 117 830 117 380 117 739 118 012 118 348

61.8 62.0 61.7 61.8 61.9 62.0

8 930 8 763 8 714 8 750 8 542 8 477

3 046 3 026 3 042 3 029 2 986 2 968

6.9 6.8 6.7 6.8 6.6 6.5

1994 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

195 953 196 090 196 213 196 363 196 510 196 693

130 596 130 669 130 400 130 621 130 779 130 561

66.6 66.6 66.5 66.5 66.6 66.4

62 798 62 708 62 780 62 906 63 116 63 041

53 052 53 266 53 099 53 274 53 624 53 393

6 116 6 112 6 051 6 110 6 124 6 200

3 302 3 339 3 354 3 428 3 409 3 299

118 664 118 747 118 576 118 862 119 455 119 335

62.2 62.3 62.1 62.3 62.5 62.3

8 630 8 583 8 470 8 331 7 915 7 927

3 060 3 118 3 055 2 921 2 836 2 735

6.6 6.6 6.5 6.4 6.1 6.1

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

196 859 197 043 197 248 197 430 197 607 197 765

130 652 131 275 131 421 131 744 131 891 131 951

66.4 66.6 66.6 66.7 66.7 66.7

63 034 63 294 63 631 63 818 64 080 64 359

53 531 53 744 53 991 54 071 54 168 54 054

6 141 6 304 6 065 6 223 6 268 6 308

3 333 3 451 3 430 3 490 3 574 3 577

119 373 119 891 120 257 120 622 120 942 121 144

62.3 62.6 62.7 62.9 63.0 63.1

7 946 7 933 7 734 7 632 7 375 7 230

2 822 2 750 2 746 2 955 2 666 2 488

6.1 6.0 5.9 5.8 5.6 5.5

1995 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

197 753 197 886 198 007 198 148 198 286 198 453

132 038 132 115 132 108 132 590 131 851 131 949

66.8 66.8 66.7 66.9 66.5 66.5

64 185 64 378 64 321 64 165 63 829 63 992

54 087 54 226 54 141 54 366 54 272 54 020

6 391 6 324 6 493 6 414 6 320 6 510

3 519 3 620 3 634 3 566 3 349 3 461

121 144 121 308 121 321 121 379 121 072 121 061

63.0 63.1 63.1 63.1 62.7 62.7

7 375 7 187 7 153 7 645 7 430 7 427

2 396 2 345 2 287 2 473 2 577 2 266

5.6 5.4 5.4 5.8 5.6 5.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

198 615 198 801 199 005 199 192 199 355 199 508

132 343 132 336 132 611 132 716 132 614 132 511

66.6 66.6 66.6 66.6 66.5 66.4

63 962 63 875 64 179 64 272 63 931 64 041

54 476 54 434 54 507 54 692 54 850 54 674

6 378 6 543 6 447 6 424 6 407 6 373

3 379 3 374 3 285 3 438 3 338 3 352

121 437 121 478 121 848 121 950 121 850 121 736

62.8 62.8 62.9 62.9 62.8 62.7

7 527 7 484 7 478 7 328 7 426 7 423

2 311 2 391 2 306 2 272 2 339 2 331

5.7 5.7 5.6 5.5 5.6 5.6

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

473

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

1996 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

199 634 199 773 199 921 200 101 200 278 200 459

132 616 132 952 133 180 133 409 133 667 133 697

66.4 66.6 66.6 66.7 66.7 66.7

64 180 64 398 64 506 64 481 64 683 64 940

54 580 54 844 54 994 55 067 55 034 55 177

6 365 6 397 6 362 6 446 6 527 6 485

3 483 3 547 3 489 3 406 3 473 3 424

121 642 122 092 122 373 122 588 122 771 123 178

62.7 62.9 63.0 63.0 63.0 63.2

7 491 7 313 7 318 7 415 7 423 7 095

2 371 2 307 2 454 2 455 2 403 2 355

5.6 5.5 5.5 5.6 5.6 5.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

200 641 200 847 201 061 201 273 201 463 201 636

134 284 134 054 134 515 134 921 135 007 135 113

66.9 66.7 66.9 67.0 67.0 67.0

65 068 65 216 65 169 65 460 65 320 65 435

55 362 55 525 55 669 55 750 55 896 55 849

6 517 6 431 6 698 6 680 6 555 6 576

3 433 3 395 3 448 3 463 3 356 3 445

123 514 123 777 124 088 124 427 124 415 124 415

63.3 63.3 63.4 63.5 63.4 63.4

7 337 6 882 6 979 7 031 7 236 7 253

2 297 2 267 2 220 2 268 2 159 2 124

5.5 5.1 5.2 5.2 5.4 5.4

1997 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

202 285 202 389 202 513 202 674 202 832 203 000

135 456 135 400 135 891 136 016 136 119 136 211

67.0 66.9 67.1 67.1 67.1 67.1

65 679 65 758 65 974 66 092 66 328 66 308

56 024 55 955 56 270 56 347 56 446 56 573

6 595 6 585 6 647 6 704 6 690 6 531

3 449 3 353 3 419 3 462 3 437 3 409

124 849 124 945 125 472 125 681 126 027 126 003

63.4 63.4 63.6 63.7 63.8 63.7

7 158 7 102 7 000 6 873 6 655 6 799

2 162 2 140 2 110 2 176 2 121 2 085

5.3 5.2 5.2 5.1 4.9 5.0

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

203 166 203 364 203 570 203 767 203 941 204 098

136 477 136 618 136 675 136 633 136 961 137 155

67.2 67.2 67.1 67.1 67.2 67.2

66 422 66 508 66 483 66 511 66 765 66 643

56 785 56 852 56 931 56 982 57 039 57 219

6 615 6 650 6 605 6 686 6 849 6 817

3 422 3 359 3 392 3 312 3 386 3 405

126 400 126 651 126 627 126 867 127 267 127 274

63.9 63.9 63.9 63.9 64.1 64.0

6 655 6 608 6 656 6 454 6 308 6 476

2 119 2 004 2 074 1 950 1 817 1 901

4.9 4.8 4.9 4.7 4.6 4.7

1998 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

204 238 204 400 204 547 204 731 204 899 205 085

137 095 137 112 137 236 137 150 137 372 137 455

67.1 67.1 67.1 67.0 67.0 67.0

66 750 66 856 66 721 67 151 67 164 67 054

56 941 56 992 57 080 57 074 57 155 57 156

7 035 6 959 7 014 6 985 7 007 7 033

3 299 3 284 3 146 3 334 3 360 3 380

127 389 127 522 127 650 127 852 127 959 127 874

64.0 64.0 64.0 64.1 64.1 64.0

6 368 6 306 6 422 5 941 6 047 6 212

1 833 1 809 1 772 1 476 1 490 1 613

4.6 4.6 4.7 4.3 4.4 4.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

205 270 205 479 205 699 205 919 206 104 206 270

137 588 137 570 138 286 138 279 138 381 138 634

67.0 67.0 67.2 67.2 67.1 67.2

67 119 66 985 67 254 67 433 67 591 67 548

57 192 57 332 57 520 57 529 57 638 57 840

7 018 7 074 7 212 7 036 7 052 7 214

3 455 3 509 3 500 3 593 3 375 3 246

127 913 127 970 128 399 128 389 128 897 129 320

64.0 63.9 64.2 64.1 64.2 64.3

6 259 6 179 6 300 6 280 6 100 6 032

1 577 1 626 1 688 1 582 1 590 1 559

4.5 4.5 4.6 4.5 4.4 4.4

1999 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

206 719 206 873 207 036 207 236 207 427 207 632

139 003 138 967 138 730 138 959 139 107 139 329

67.2 67.2 67.0 67.1 67.1 67.1

67 679 67 498 67 660 67 542 67 539 67 700

58 256 58 129 58 132 58 260 58 440 58 641

7 092 7 229 7 155 7 153 7 331 7 037

3 233 3 246 3 238 3 336 3 335 3 386

129 802 129 647 129 656 129 615 129 937 129 982

64.4 64.2 64.2 64.2 64.3 64.2

5 976 6 111 5 783 6 004 5 796 5 951

1 490 1 551 1 472 1 480 1 505 1 624

4.3 4.4 4.2 4.3 4.2 4.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

207 828 208 038 208 265 208 483 208 666 208 832

139 439 139 430 139 622 139 771 140 025 140 177

67.1 67.0 67.0 67.0 67.1 67.1

67 731 67 768 67 882 67 840 68 094 68 217

58 490 58 707 58 735 58 921 59 018 59 056

7 193 7 117 7 090 7 232 7 198 7 251

3 346 3 234 3 173 3 229 3 343 3 260

130 146 130 366 130 434 130 758 130 989 131 257

64.2 64.2 64.2 64.3 64.4 64.4

6 025 5 838 5 915 5 778 5 716 5 653

1 513 1 455 1 449 1 438 1 378 1 375

4.3 4.2 4.2 4.1 4.1 4.0

2000 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

211 410 211 576 211 772 212 018 212 242 212 466

142 267 142 456 142 434 142 751 142 388 142 591

67.3 67.3 67.3 67.3 67.1 67.1

69 419 69 505 69 482 69 519 69 399 69 629

59 842 59 887 59 977 60 358 59 951 60 027

7 298 7 206 7 241 7 393 7 280 7 284

2 613 2 731 2 579 2 505 2 480 2 445

133 863 133 912 134 022 134 806 134 144 134 528

64.6 64.6 64.6 64.7 64.4 64.5

5 708 5 858 5 733 5 481 5 758 5 651

1 380 1 300 1 312 1 261 1 325 1 242

4.0 4.1 4.0 3.8 4.0 4.0

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

212 677 212 916 213 163 213 405 213 540 213 736

142 278 142 514 142 518 142 622 142 962 143 248

66.9 66.9 66.9 66.8 66.9 67.0

69 525 69 823 69 700 69 762 69 910 69 939

60 011 59 719 60 083 60 238 60 269 60 503

6 995 7 120 7 110 7 088 7 143 7 172

2 408 2 433 2 384 2 319 2 330 2 389

134 196 134 311 134 489 134 808 134 921 135 194

64.2 64.2 64.2 64.2 64.3 64.4

5 747 5 853 5 625 5 534 5 639 5 634

1 343 1 394 1 290 1 337 1 315 1 329

4.0 4.1 3.9 3.9 3.9 3.9

2001 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

213 888 214 110 214 305 214 525 214 732 214 950

143 788 143 675 143 931 143 567 143 320 143 361

67.2 67.1 67.2 66.9 66.7 66.7

70 051 69 941 69 874 69 918 69 881 69 701

60 619 60 612 60 901 60 521 60 507 60 364

7 101 7 034 7 025 6 852 6 711 6 816

2 353 2 366 2 347 2 335 2 353 2 090

135 323 135 273 135 362 135 028 134 745 134 758

64.4 64.3 64.3 64.0 63.8 63.7

6 017 6 088 6 132 6 276 6 222 6 480

1 374 1 492 1 522 1 497 1 501 1 525

4.2 4.2 4.3 4.4 4.3 4.5

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

215 180 215 420 215 665 215 903 216 117 216 315

143 662 143 301 143 995 144 097 144 246 144 324

66.8 66.5 66.8 66.7 66.7 66.7

69 818 69 600 69 930 69 624 69 441 69 547

60 477 60 299 60 267 60 170 60 178 60 100

6 787 6 358 6 652 6 598 6 614 6 396

2 308 2 301 2 321 2 323 2 210 2 288

134 810 133 964 134 577 134 116 133 966 133 755

63.7 63.3 63.5 63.2 63.0 62.9

6 580 7 044 7 146 7 705 8 014 8 281

1 647 1 860 1 952 2 086 2 325 2 458

4.6 4.9 5.0 5.3 5.6 5.7

1Not

seasonally adjusted.

474

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-3. Summary Labor Force, Employment, and Unemployment—Continued (Thousands of persons, percent, seasonally adjusted, except as noted.) Civilian labor force

Year and month

Civilian noninstitutional Thousands population 1 of persons

Employment, thousands of persons By age and sex

Participation rate (percent)

Men, 20 years and over

Unemployment

By industry

Women, 20 Both sexes, Agricultural years and 16–19 over years

Nonagricultural

Employment– population ratio, percent

Thousands of persons

Total

Unemployed 15 weeks and over

Rate, percent

2002 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

216 506 216 663 216 823 217 006 217 198 217 407

143 858 144 604 144 474 144 717 144 931 144 802

66.4 66.7 66.6 66.7 66.7 66.6

69 289 69 505 69 477 69 592 70 006 69 782

60 053 60 466 60 180 60 193 60 216 60 282

6 351 6 414 6 553 6 344 6 328 6 359

2 369 2 386 2 365 2 376 2 263 2 187

133 256 134 084 133 782 133 830 134 299 134 137

62.7 62.9 62.8 62.7 62.9 62.8

8 165 8 219 8 263 8 589 8 382 8 379

2 575 2 610 2 730 2 844 2 942 3 002

5.7 5.7 5.7 5.9 5.8 5.8

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

217 630 217 866 218 107 218 340 218 548 218 741

144 818 145 052 145 573 145 347 145 072 145 091

66.5 66.6 66.7 66.6 66.4 66.3

69 823 69 957 70 201 69 950 69 601 69 593

60 285 60 562 60 693 60 681 60 714 60 687

6 322 6 216 6 416 6 384 6 196 6 120

2 353 2 126 2 282 2 435 2 268 2 342

134 023 134 627 135 143 134 627 134 196 134 082

62.7 62.8 63.0 62.8 62.5 62.4

8 388 8 318 8 263 8 332 8 561 8 691

2 944 2 902 2 987 3 053 3 080 3 298

5.8 5.7 5.7 5.7 5.9 6.0

2003 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

219 897 220 114 220 317 220 540 220 768 221 014

145 914 146 001 145 944 146 449 146 478 147 003

66.4 66.3 66.2 66.4 66.3 66.5

69 894 70 202 70 244 70 343 70 253 70 175

61 452 61 127 61 279 61 349 61 372 61 700

6 084 6 037 5 928 5 937 5 926 5 900

2 315 2 224 2 260 2 163 2 185 2 224

135 059 135 218 135 160 135 537 135 389 135 418

62.5 62.4 62.4 62.4 62.3 62.3

8 484 8 636 8 493 8 822 8 926 9 228

3 153 3 166 3 173 3 338 3 287 3 506

5.8 5.9 5.8 6.0 6.1 6.3

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

221 252 221 507 221 779 222 039 222 279 222 509

146 535 146 507 146 580 146 778 147 109 146 808

66.2 66.1 66.1 66.1 66.2 66.0

70 224 70 262 70 596 70 694 70 939 71 135

61 435 61 456 61 163 61 495 61 532 61 437

5 852 5 875 5 860 5 833 5 987 5 836

2 229 2 294 2 334 2 428 2 381 2 239

135 138 135 262 135 426 135 668 136 068 136 172

62.2 62.1 62.1 62.2 62.3 62.2

9 024 8 914 8 961 8 755 8 651 8 399

3 597 3 609 3 524 3 448 3 451 3 389

6.2 6.1 6.1 6.0 5.9 5.7

2004 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

222 161 222 357 222 550 222 757 222 967 223 196

146 785 146 529 146 737 146 788 147 018 147 386

66.1 65.9 65.9 65.9 65.9 66.0

71 283 71 014 71 158 71 158 71 226 71 575

61 237 61 456 61 424 61 591 61 723 61 731

5 962 5 864 5 825 5 897 5 896 5 853

2 172 2 201 2 180 2 261 2 301 2 291

136 234 136 191 136 192 136 427 136 565 136 751

62.3 62.2 62.2 62.2 62.3 62.3

8 303 8 195 8 330 8 143 8 172 8 228

3 339 3 252 3 321 2 956 3 059 3 051

5.7 5.6 5.7 5.5 5.6 5.6

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

223 422 223 677 223 941 224 192 224 422 224 640

147 823 147 676 147 531 147 893 148 313 148 203

66.2 66.0 65.9 66.0 66.1 66.0

71 830 71 847 71 701 71 895 72 134 72 020

61 902 61 877 61 939 62 024 62 145 62 208

5 907 5 934 5 887 5 908 6 014 5 927

2 273 2 305 2 221 2 155 2 212 2 179

137 257 137 321 137 460 137 764 138 068 137 973

62.5 62.4 62.3 62.4 62.5 62.4

8 184 8 018 8 005 8 066 8 020 8 047

2 885 2 924 2 971 3 032 3 012 2 961

5.5 5.4 5.4 5.5 5.4 5.4

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1946 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

39 839 39 250 40 192 40 908 41 348 41 732

34 054 33 472 34 434 35 147 35 616 36 052

15 031 14 308 15 017 15 439 15 875 16 206

12 719 11 922 12 545 13 200 13 389 13 598

24 808 24 942 25 175 25 469 25 473 25 526

... ... ... ... ... ...

10 990 10 292 10 989 11 616 11 758 11 905

... ... ... ... ... ...

40.9 40.4 40.6 40.4 39.8 40.0

... ... ... ... ... ...

0.86 0.85 0.89 0.92 0.93 0.94

... ... ... ... ... ...

35.17 34.34 36.13 37.17 37.01 37.60

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

42 153 42 642 42 908 43 094 43 396 43 379

36 471 36 961 37 239 37 430 37 757 37 751

16 461 16 728 16 912 17 002 17 157 17 164

13 771 13 981 14 135 14 182 14 310 14 301

25 692 25 914 25 996 26 092 26 239 26 215

... ... ... ... ... ...

12 065 12 241 12 311 12 302 12 421 12 419

... ... ... ... ... ...

40.2 40.6 40.4 40.4 40.3 40.5

... ... ... ... ... ...

0.96 0.98 0.99 1.00 1.02 1.02

... ... ... ... ... ...

38.59 39.79 40.00 40.40 41.11 41.31

1947 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

43 545 43 563 43 605 43 491 43 637 43 808

37 926 37 957 38 017 37 933 38 086 38 284

17 213 17 200 17 196 17 178 17 176 17 253

14 328 14 278 14 259 14 240 14 189 14 200

26 332 26 363 26 409 26 313 26 461 26 555

... ... ... ... ... ...

12 445 12 487 12 518 12 531 12 449 12 389

... ... ... ... ... ...

40.5 40.4 40.3 40.5 40.4 40.4

... ... ... ... ... ...

1.03 1.04 1.06 1.06 1.08 1.10

... ... ... ... ... ...

41.72 42.02 42.72 42.93 43.63 44.44

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

43 742 43 958 44 201 44 415 44 486 44 578

38 218 38 439 38 662 38 849 38 901 38 973

17 106 17 280 17 398 17 499 17 517 17 563

14 076 14 200 14 315 14 393 14 414 14 428

26 636 26 678 26 803 26 916 26 969 27 015

... ... ... ... ... ...

12 265 12 370 12 430 12 464 12 494 12 526

... ... ... ... ... ...

40.4 40.0 40.5 40.5 40.5 40.8

... ... ... ... ... ...

1.10 1.11 1.11 1.13 1.14 1.16

... ... ... ... ... ...

44.44 44.40 44.96 45.77 46.17 47.33

1948 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

44 686 44 537 44 680 44 369 44 795 45 032

39 062 38 922 39 057 38 726 39 114 39 296

17 625 17 447 17 544 17 302 17 508 17 633

14 438 14 339 14 364 14 183 14 235 14 318

27 061 27 090 27 136 27 067 27 287 27 399

... ... ... ... ... ...

12 520 12 437 12 489 12 304 12 344 12 402

... ... ... ... ... ...

40.5 40.2 40.4 40.1 40.2 40.3

... ... ... ... ... ...

1.16 1.16 1.16 1.17 1.18 1.19

... ... ... ... ... ...

46.98 46.63 46.86 46.92 47.44 47.96

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

45 160 45 175 45 294 45 250 45 194 45 028

39 386 39 384 39 489 39 421 39 325 39 140

17 649 17 655 17 741 17 683 17 599 17 417

14 359 14 353 14 441 14 390 14 292 14 086

27 511 27 520 27 553 27 567 27 595 27 611

... ... ... ... ... ...

12 417 12 397 12 450 12 364 12 302 12 127

... ... ... ... ... ...

40.2 40.2 40.1 39.8 39.8 39.6

... ... ... ... ... ...

1.21 1.23 1.24 1.25 1.26 1.26

... ... ... ... ... ...

48.64 49.45 49.72 49.75 50.15 49.90

1949 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

44 675 44 500 44 238 44 230 43 982 43 739

38 781 38 607 38 323 38 282 38 020 37 783

17 170 17 019 16 848 16 685 16 492 16 351

13 867 13 734 13 581 13 439 13 269 13 178

27 505 27 481 27 390 27 545 27 490 27 388

... ... ... ... ... ...

11 905 11 792 11 654 11 517 11 352 11 266

... ... ... ... ... ...

39.4 39.4 39.1 38.8 38.9 39.0

... ... ... ... ... ...

1.26 1.26 1.26 1.25 1.25 1.26

... ... ... ... ... ...

49.64 49.64 49.27 48.50 48.63 49.14

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

43 530 43 621 43 784 42 950 43 244 43 516

37 568 37 636 37 794 36 980 37 294 37 564

16 222 16 327 16 403 15 739 16 040 16 217

13 067 13 158 13 225 12 891 12 882 13 062

27 308 27 294 27 381 27 211 27 204 27 299

... ... ... ... ... ...

11 168 11 251 11 284 10 940 10 964 11 173

... ... ... ... ... ...

39.2 39.2 39.4 39.6 39.1 39.4

... ... ... ... ... ...

1.26 1.25 1.25 1.24 1.24 1.25

... ... ... ... ... ...

49.39 49.00 49.25 49.10 48.48 49.25

1950 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

43 530 43 298 43 952 44 376 44 717 45 084

37 596 37 372 37 874 38 282 38 674 39 062

16 255 16 035 16 482 16 718 17 080 17 288

13 161 13 169 13 290 13 471 13 780 13 923

27 275 27 263 27 470 27 658 27 637 27 796

... ... ... ... ... ...

11 258 11 262 11 362 11 528 11 855 11 979

... ... ... ... ... ...

39.6 39.7 39.7 40.3 40.3 40.6

... ... ... ... ... ...

1.27 1.26 1.28 1.29 1.30 1.30

... ... ... ... ... ...

50.29 50.02 50.82 51.99 52.39 52.78

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

45 453 46 187 46 442 46 712 46 778 46 855

39 363 40 000 40 214 40 463 40 516 40 541

17 464 17 917 18 040 18 249 18 288 18 283

14 072 14 461 14 561 14 737 14 762 14 782

27 989 28 270 28 402 28 463 28 490 28 572

... ... ... ... ... ...

12 107 12 476 12 519 12 659 12 682 12 710

... ... ... ... ... ...

40.9 41.3 40.8 41.1 41.0 40.9

... ... ... ... ... ...

1.31 1.33 1.33 1.36 1.37 1.39

... ... ... ... ... ...

53.58 54.93 54.26 55.90 56.17 56.85

1951 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

47 289 47 577 47 871 47 856 47 952 48 067

40 937 41 195 41 461 41 405 41 535 41 568

18 518 18 666 18 754 18 810 18 829 18 826

14 950 15 076 15 125 15 166 15 164 15 176

28 771 28 911 29 117 29 046 29 123 29 241

... ... ... ... ... ...

12 816 12 929 12 936 12 960 12 941 12 934

... ... ... ... ... ...

41.0 40.9 41.0 41.0 41.0 40.9

... ... ... ... ... ...

1.40 1.41 1.42 1.43 1.44 1.45

... ... ... ... ... ...

57.40 57.67 58.22 58.63 59.04 59.31

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

48 061 48 008 47 955 48 009 48 149 48 308

41 523 41 489 41 403 41 432 41 523 41 620

18 747 18 709 18 622 18 630 18 617 18 698

15 110 15 061 14 996 14 973 14 999 15 045

29 314 29 299 29 333 29 379 29 532 29 610

... ... ... ... ... ...

12 848 12 772 12 659 12 615 12 628 12 667

... ... ... ... ... ...

40.6 40.4 40.4 40.3 40.4 40.7

... ... ... ... ... ...

1.45 1.46 1.46 1.47 1.48 1.49

... ... ... ... ... ...

58.87 58.98 58.98 59.24 59.79 60.64

. . . = Not available.

475

476

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1952 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

48 299 48 522 48 504 48 616 48 645 48 286

41 710 41 872 41 842 41 954 41 951 41 574

18 719 18 813 18 775 18 806 18 784 18 419

15 067 15 105 15 127 15 162 15 143 14 828

29 580 29 709 29 729 29 810 29 861 29 867

... ... ... ... ... ...

12 675 12 689 12 695 12 713 12 676 12 353

... ... ... ... ... ...

40.8 40.8 40.6 40.3 40.5 40.6

... ... ... ... ... ...

1.49 1.49 1.51 1.51 1.51 1.51

... ... ... ... ... ...

60.79 60.79 61.31 60.85 61.16 61.31

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

48 144 48 922 49 319 49 598 49 816 50 164

41 407 42 204 42 585 42 782 43 015 43 229

18 268 18 928 19 206 19 312 19 473 19 610

14 707 15 279 15 553 15 690 15 843 15 973

29 876 29 994 30 113 30 286 30 343 30 554

... ... ... ... ... ...

12 233 12 764 13 007 13 122 13 262 13 375

... ... ... ... ... ...

40.2 40.7 41.1 41.2 41.2 41.2

... ... ... ... ... ...

1.50 1.53 1.55 1.56 1.58 1.58

... ... ... ... ... ...

60.30 62.27 63.71 64.27 65.10 65.10

1953 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

50 145 50 339 50 474 50 432 50 491 50 522

43 351 43 542 43 690 43 662 43 774 43 788

19 721 19 841 19 909 19 908 19 930 19 909

16 067 16 158 16 270 16 293 16 341 16 343

30 424 30 498 30 565 30 524 30 561 30 613

... ... ... ... ... ...

13 447 13 529 13 620 13 629 13 645 13 636

... ... ... ... ... ...

41.1 41.0 41.2 40.9 41.0 40.9

... ... ... ... ... ...

1.59 1.61 1.61 1.62 1.62 1.63

... ... ... ... ... ...

65.35 66.01 66.33 66.26 66.42 66.67

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

50 536 50 487 50 365 50 242 49 906 49 702

43 813 43 733 43 616 43 478 43 157 42 959

19 910 19 834 19 726 19 578 19 315 19 173

16 353 16 278 16 151 15 981 15 728 15 581

30 626 30 653 30 639 30 664 30 591 30 529

... ... ... ... ... ...

13 653 13 564 13 419 13 244 12 990 12 847

... ... ... ... ... ...

40.7 40.7 40.1 40.1 40.0 39.7

... ... ... ... ... ...

1.64 1.64 1.65 1.65 1.65 1.65

... ... ... ... ... ...

66.75 66.75 66.17 66.17 66.00 65.51

1954 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

49 467 49 381 49 158 49 177 48 965 48 896

42 707 42 598 42 362 42 371 42 136 42 050

18 963 18 880 18 748 18 602 18 476 18 400

15 440 15 307 15 197 15 065 14 974 14 910

30 504 30 501 30 410 30 575 30 489 30 496

... ... ... ... ... ...

12 706 12 593 12 493 12 361 12 282 12 220

... ... ... ... ... ...

39.5 39.7 39.6 39.7 39.7 39.7

... ... ... ... ... ...

1.65 1.65 1.65 1.65 1.67 1.67

... ... ... ... ... ...

65.18 65.51 65.34 65.51 66.30 66.30

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

48 834 48 825 48 881 48 944 49 179 49 331

41 966 41 933 41 987 42 044 42 215 42 374

18 280 18 251 18 261 18 321 18 438 18 508

14 799 14 772 14 805 14 841 14 913 14 967

30 554 30 574 30 620 30 623 30 741 30 823

... ... ... ... ... ...

12 121 12 089 12 104 12 142 12 206 12 254

... ... ... ... ... ...

39.7 39.8 39.9 39.7 40.1 40.1

... ... ... ... ... ...

1.66 1.66 1.66 1.67 1.68 1.68

... ... ... ... ... ...

65.90 66.07 66.23 66.30 67.37 67.37

1955 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

49 497 49 644 49 963 50 246 50 512 50 790

42 544 42 721 43 025 43 287 43 521 43 770

18 609 18 726 18 910 19 067 19 223 19 331

15 034 15 138 15 258 15 375 15 493 15 585

30 888 30 918 31 053 31 179 31 289 31 459

... ... ... ... ... ...

12 309 12 408 12 524 12 626 12 731 12 810

... ... ... ... ... ...

40.4 40.6 40.7 40.8 41.1 40.8

... ... ... ... ... ...

1.69 1.70 1.71 1.71 1.73 1.73

... ... ... ... ... ...

68.28 69.02 69.60 69.77 71.10 70.58

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

50 985 51 112 51 262 51 431 51 592 51 805

43 936 44 089 44 195 44 313 44 509 44 673

19 376 19 432 19 427 19 482 19 554 19 608

15 614 15 679 15 668 15 740 15 813 15 859

31 609 31 680 31 835 31 949 32 038 32 197

... ... ... ... ... ...

12 818 12 866 12 830 12 896 12 967 13 009

... ... ... ... ... ...

40.7 40.7 40.7 41.0 41.1 40.9

... ... ... ... ... ...

1.75 1.76 1.77 1.77 1.78 1.78

... ... ... ... ... ...

71.23 71.63 72.04 72.57 73.16 72.80

1956 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

51 975 52 167 52 295 52 375 52 506 52 583

44 808 44 955 45 043 45 099 45 139 45 216

19 665 19 731 19 691 19 811 19 825 19 905

15 882 15 889 15 829 15 909 15 893 15 835

32 310 32 436 32 604 32 564 32 681 32 678

... ... ... ... ... ...

13 011 12 986 12 905 12 970 12 925 12 836

... ... ... ... ... ...

40.8 40.7 40.6 40.5 40.4 40.3

... ... ... ... ... ...

1.78 1.79 1.80 1.82 1.83 1.83

... ... ... ... ... ...

72.62 72.85 73.08 73.71 73.93 73.75

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

51 954 52 632 52 600 52 781 52 822 52 930

44 549 45 181 45 119 45 262 45 269 45 346

19 390 19 922 19 860 19 918 19 886 19 926

15 468 15 893 15 863 15 937 15 916 15 957

32 564 32 710 32 740 32 863 32 936 33 004

... ... ... ... ... ...

12 435 12 860 12 822 12 908 12 864 12 882

... ... ... ... ... ...

40.3 40.3 40.5 40.6 40.4 40.6

... ... ... ... ... ...

1.82 1.85 1.87 1.88 1.88 1.91

... ... ... ... ... ...

73.35 74.56 75.74 76.33 75.95 77.55

1957 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

52 888 53 098 53 156 53 238 53 149 53 066

45 268 45 452 45 484 45 537 45 436 45 364

19 833 19 933 19 936 19 887 19 834 19 777

15 970 15 998 15 994 15 970 15 931 15 873

33 055 33 165 33 220 33 351 33 315 33 289

... ... ... ... ... ...

12 881 12 885 12 855 12 811 12 762 12 697

... ... ... ... ... ...

40.4 40.5 40.4 40.0 40.0 40.0

... ... ... ... ... ...

1.90 1.91 1.92 1.91 1.92 1.92

... ... ... ... ... ...

76.76 77.36 77.57 76.40 76.80 76.80

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

53 122 53 128 52 932 52 765 52 557 52 385

45 368 45 371 45 183 44 997 44 788 44 539

19 735 19 728 19 545 19 421 19 260 19 111

15 854 15 867 15 710 15 599 15 466 15 332

33 387 33 400 33 387 33 344 33 297 33 274

... ... ... ... ... ...

12 669 12 673 12 528 12 437 12 301 12 170

... ... ... ... ... ...

40.0 40.0 39.7 39.4 39.2 39.1

... ... ... ... ... ...

1.93 1.94 1.95 1.96 1.96 1.95

... ... ... ... ... ...

77.20 77.60 77.42 77.22 76.83 76.25

. . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1958 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

52 077 51 576 51 300 51 026 50 913 50 912

44 256 43 744 43 452 43 158 43 019 42 986

18 902 18 529 18 335 18 120 18 008 17 984

15 130 14 908 14 670 14 506 14 414 14 408

33 175 33 047 32 965 32 906 32 905 32 928

... ... ... ... ... ...

11 969 11 757 11 532 11 373 11 294 11 300

... ... ... ... ... ...

38.9 38.7 38.8 38.9 38.9 39.1

... ... ... ... ... ...

1.95 1.95 1.96 1.96 1.97 1.98

... ... ... ... ... ...

75.86 75.47 76.05 76.24 76.63 77.42

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

51 037 51 233 51 506 51 485 51 943 52 088

43 065 43 221 43 490 43 454 43 915 43 988

18 038 18 147 18 331 18 218 18 610 18 592

14 450 14 524 14 658 14 503 14 827 14 877

32 999 33 086 33 175 33 267 33 333 33 496

... ... ... ... ... ...

11 349 11 412 11 556 11 394 11 702 11 743

... ... ... ... ... ...

39.3 39.5 39.5 39.6 39.9 39.9

... ... ... ... ... ...

1.98 2.01 2.00 2.00 2.03 2.04

... ... ... ... ... ...

77.81 79.40 79.00 79.20 81.00 81.40

1959 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

52 481 52 687 53 016 53 320 53 549 53 678

44 376 44 571 44 884 45 178 45 396 45 535

18 796 18 890 19 069 19 269 19 378 19 462

14 998 15 115 15 259 15 385 15 487 15 554

33 685 33 797 33 947 34 051 34 171 34 216

... ... ... ... ... ...

11 849 11 950 12 078 12 185 12 277 12 330

... ... ... ... ... ...

40.2 40.3 40.4 40.5 40.7 40.6

... ... ... ... ... ...

2.04 2.05 2.07 2.08 2.08 2.09

... ... ... ... ... ...

82.01 82.62 83.63 84.24 84.66 84.85

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

53 803 53 337 53 428 53 359 53 635 54 175

45 630 45 156 45 189 45 094 45 351 45 807

19 529 19 049 19 052 18 925 19 108 19 425

15 623 15 202 15 254 15 158 15 300 15 573

34 274 34 288 34 376 34 434 34 527 34 750

... ... ... ... ... ...

12 366 11 936 11 984 11 864 11 991 12 254

... ... ... ... ... ...

40.3 40.4 40.4 40.1 39.9 40.3

... ... ... ... ... ...

2.09 2.07 2.08 2.07 2.07 2.11

... ... ... ... ... ...

84.23 83.63 84.03 83.01 82.59 85.03

1960 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

54 274 54 513 54 458 54 812 54 472 54 347

45 967 46 187 45 933 46 278 46 040 45 915

19 491 19 605 19 373 19 446 19 374 19 240

15 687 15 765 15 707 15 654 15 575 15 466

34 783 34 908 35 085 35 366 35 098 35 107

... ... ... ... ... ...

12 362 12 434 12 362 12 299 12 218 12 102

... ... ... ... ... ...

40.6 40.3 40.0 40.0 40.1 39.9

... ... ... ... ... ...

2.13 2.14 2.14 2.14 2.14 2.14

... ... ... ... ... ...

86.48 86.24 85.60 85.60 85.81 85.39

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

54 303 54 272 54 228 54 144 53 962 53 743

45 861 45 800 45 734 45 642 45 446 45 146

19 170 19 105 19 057 18 952 18 799 18 548

15 413 15 360 15 330 15 231 15 112 14 947

35 133 35 167 35 171 35 192 35 163 35 195

... ... ... ... ... ...

12 047 11 986 11 956 11 846 11 726 11 556

... ... ... ... ... ...

39.9 39.7 39.4 39.7 39.3 38.4

... ... ... ... ... ...

2.14 2.15 2.16 2.16 2.15 2.16

... ... ... ... ... ...

85.39 85.36 85.10 85.75 84.50 82.94

1961 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

53 683 53 556 53 662 53 626 53 783 53 977

45 119 44 969 45 051 44 997 45 119 45 289

18 508 18 418 18 438 18 432 18 523 18 618

14 863 14 801 14 802 14 825 14 932 14 981

35 175 35 138 35 224 35 194 35 260 35 359

... ... ... ... ... ...

11 473 11 414 11 410 11 444 11 544 11 593

... ... ... ... ... ...

39.3 39.4 39.5 39.5 39.7 40.0

... ... ... ... ... ...

2.16 2.16 2.16 2.18 2.19 2.20

... ... ... ... ... ...

84.89 85.10 85.32 86.11 86.94 88.00

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

54 124 54 299 54 387 54 521 54 743 54 871

45 400 45 535 45 591 45 716 45 931 46 035

18 640 18 725 18 730 18 805 18 927 18 981

15 029 15 093 15 080 15 143 15 259 15 309

35 484 35 574 35 657 35 716 35 816 35 890

... ... ... ... ... ...

11 639 11 701 11 679 11 731 11 842 11 872

... ... ... ... ... ...

40.0 40.1 39.5 40.3 40.7 40.4

... ... ... ... ... ...

2.21 2.22 2.20 2.23 2.23 2.24

... ... ... ... ... ...

88.40 89.02 86.90 89.87 90.76 90.50

1962 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

54 891 55 187 55 276 55 601 55 626 55 644

46 040 46 309 46 375 46 679 46 668 46 644

18 936 19 109 19 109 19 258 19 253 19 186

15 322 15 411 15 451 15 524 15 513 15 518

35 955 36 078 36 167 36 343 36 373 36 458

... ... ... ... ... ...

11 865 11 950 11 970 12 034 12 011 12 006

... ... ... ... ... ...

40.0 40.4 40.6 40.6 40.6 40.5

... ... ... ... ... ...

2.25 2.26 2.26 2.26 2.27 2.26

... ... ... ... ... ...

90.00 91.30 91.76 91.76 92.16 91.53

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

55 746 55 838 55 977 56 041 56 055 56 027

46 720 46 775 46 888 46 927 46 910 46 901

19 248 19 251 19 305 19 301 19 260 19 219

15 522 15 517 15 568 15 569 15 530 15 520

36 498 36 587 36 672 36 740 36 795 36 808

... ... ... ... ... ...

12 004 11 990 12 033 12 034 11 977 11 961

... ... ... ... ... ...

40.5 40.5 40.5 40.3 40.5 40.3

... ... ... ... ... ...

2.27 2.28 2.28 2.29 2.29 2.29

... ... ... ... ... ...

91.94 92.34 92.34 92.29 92.75 92.29

1963 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

56 116 56 231 56 322 56 580 56 616 56 658

46 912 47 000 47 077 47 316 47 328 47 356

19 257 19 228 19 233 19 343 19 399 19 371

15 545 15 542 15 564 15 602 15 641 15 624

36 859 37 003 37 089 37 237 37 217 37 287

... ... ... ... ... ...

11 974 11 965 11 990 12 029 12 066 12 050

... ... ... ... ... ...

40.5 40.5 40.5 40.5 40.5 40.7

... ... ... ... ... ...

2.30 2.31 2.32 2.32 2.33 2.34

... ... ... ... ... ...

93.15 93.56 93.96 93.96 94.37 95.24

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

56 795 56 910 57 078 57 284 57 255 57 360

47 461 47 542 47 661 47 805 47 771 47 863

19 423 19 437 19 483 19 517 19 456 19 493

15 646 15 644 15 674 15 714 15 675 15 712

37 372 37 473 37 595 37 767 37 799 37 867

... ... ... ... ... ...

12 080 12 060 12 088 12 131 12 072 12 108

... ... ... ... ... ...

40.6 40.6 40.6 40.7 40.7 40.6

... ... ... ... ... ...

2.35 2.34 2.36 2.36 2.37 2.38

... ... ... ... ... ...

95.41 95.00 95.82 96.05 96.46 96.63

. . . = Not available.

477

478

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1964 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

57 487 57 752 57 898 57 923 58 089 58 221

47 925 48 171 48 287 48 279 48 419 48 552

19 406 19 570 19 587 19 593 19 630 19 682

15 715 15 742 15 770 15 785 15 812 15 839

38 081 38 182 38 311 38 330 38 459 38 539

39 914 40 123 40 171 40 208 40 332 40 448

12 132 12 165 12 190 12 211 12 231 12 255

38.2 38.5 38.5 38.6 38.6 38.6

40.1 40.7 40.6 40.7 40.8 40.8

2.50 2.50 2.50 2.52 2.52 2.53

2.38 2.38 2.38 2.40 2.40 2.41

95.50 96.25 96.25 97.27 97.27 97.66

95.44 96.87 96.63 97.68 97.92 98.33

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

58 412 58 620 58 903 58 794 59 217 59 420

48 735 48 888 49 117 48 949 49 338 49 523

19 740 19 810 19 943 19 723 20 026 20 111

15 887 15 948 16 073 15 821 16 096 16 176

38 672 38 810 38 960 39 071 39 191 39 309

40 624 40 770 41 026 40 827 41 157 41 308

12 309 12 354 12 479 12 224 12 477 12 551

38.5 38.5 38.5 38.5 38.6 38.7

40.8 40.9 40.9 40.7 41.0 41.2

2.53 2.55 2.55 2.55 2.56 2.58

2.41 2.42 2.44 2.40 2.42 2.44

97.41 98.18 98.18 98.18 98.82 99.85

98.33 98.98 99.80 97.68 99.22 100.53

1965 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

59 583 59 800 60 003 60 258 60 492 60 690

49 646 49 826 49 993 50 207 50 398 50 562

20 173 20 216 20 292 20 317 20 444 20 522

16 245 16 291 16 353 16 418 16 477 16 554

39 410 39 584 39 711 39 941 40 048 40 168

41 453 41 583 41 675 41 886 42 044 42 183

12 603 12 644 12 701 12 752 12 792 12 854

38.7 38.7 38.7 38.7 38.8 38.6

41.3 41.3 41.3 41.2 41.3 41.2

2.58 2.59 2.60 2.60 2.62 2.62

2.45 2.46 2.47 2.47 2.49 2.49

99.85 100.23 100.62 100.62 101.66 101.13

101.19 101.60 102.01 101.76 102.84 102.59

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

60 963 61 228 61 490 61 718 61 997 62 321

50 762 50 957 51 152 51 340 51 561 51 822

20 611 20 726 20 808 20 895 21 021 21 151

16 669 16 732 16 802 16 864 16 962 17 051

40 352 40 502 40 682 40 823 40 976 41 170

42 364 42 537 42 726 42 870 43 045 43 270

12 962 12 994 13 046 13 100 13 175 13 243

38.6 38.5 38.6 38.5 38.6 38.6

41.2 41.1 41.1 41.2 41.3 41.3

2.63 2.64 2.65 2.66 2.67 2.68

2.49 2.50 2.51 2.52 2.52 2.53

101.52 101.64 102.29 102.41 103.06 103.45

102.59 102.75 103.16 103.82 104.08 104.49

1966 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

62 528 62 796 63 191 63 436 63 711 64 110

51 987 52 185 52 499 52 677 52 890 53 208

21 214 21 315 21 515 21 568 21 675 21 846

17 143 17 288 17 400 17 517 17 625 17 733

41 314 41 481 41 676 41 868 42 036 42 264

43 401 43 552 43 801 43 959 44 138 44 390

13 301 13 426 13 508 13 598 13 678 13 753

38.6 38.7 38.7 38.7 38.5 38.5

41.5 41.7 41.6 41.8 41.5 41.4

2.68 2.69 2.70 2.71 2.72 2.72

2.54 2.56 2.56 2.58 2.58 2.58

103.45 104.10 104.49 104.88 104.72 104.72

105.41 106.75 106.50 107.84 107.07 106.81

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

64 301 64 507 64 645 64 854 65 019 65 199

53 327 53 501 53 582 53 727 53 816 53 943

21 872 21 972 21 948 21 991 21 988 22 008

17 760 17 882 17 886 17 956 17 981 17 998

42 429 42 535 42 697 42 863 43 031 43 191

44 484 44 596 44 659 44 789 44 834 44 916

13 758 13 843 13 841 13 906 13 918 13 906

38.4 38.4 38.3 38.4 38.3 38.2

41.2 41.4 41.2 41.3 41.2 40.9

2.74 2.75 2.76 2.77 2.78 2.78

2.60 2.61 2.63 2.64 2.65 2.64

105.22 105.60 105.71 106.37 106.47 106.20

107.12 108.05 108.36 109.03 109.18 107.98

1967 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

65 407 65 427 65 530 65 467 65 618 65 750

54 092 54 074 54 133 54 032 54 144 54 216

22 057 21 987 21 919 21 842 21 779 21 761

18 033 17 978 17 940 17 878 17 832 17 812

43 350 43 440 43 611 43 625 43 839 43 989

45 050 44 967 44 991 44 871 44 961 45 004

13 925 13 853 13 797 13 712 13 664 13 632

38.3 37.9 37.9 37.8 37.8 37.8

41.1 40.4 40.5 40.4 40.4 40.4

2.79 2.81 2.81 2.82 2.83 2.84

2.65 2.67 2.67 2.68 2.69 2.69

106.86 106.50 106.50 106.60 106.97 107.35

108.92 107.87 108.14 108.27 108.68 108.68

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

65 887 66 142 66 163 66 225 66 703 66 900

54 343 54 552 54 540 54 583 55 008 55 165

21 772 21 887 21 775 21 779 21 996 22 037

17 784 17 905 17 794 17 800 17 985 18 025

44 115 44 255 44 388 44 446 44 707 44 863

45 105 45 267 45 236 45 278 45 701 45 800

13 602 13 681 13 559 13 587 13 777 13 782

37.8 37.8 37.8 37.8 37.9 37.7

40.5 40.6 40.6 40.6 40.6 40.7

2.86 2.87 2.88 2.89 2.91 2.92

2.71 2.73 2.73 2.74 2.75 2.77

108.11 108.49 108.86 109.24 110.29 110.08

109.76 110.84 110.84 111.24 111.65 112.74

1968 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

66 805 67 214 67 296 67 555 67 652 67 904

55 011 55 395 55 454 55 677 55 747 55 917

21 917 22 117 22 119 22 207 22 255 22 264

18 040 18 054 18 067 18 131 18 190 18 228

44 888 45 097 45 177 45 348 45 397 45 640

45 655 45 980 46 041 46 239 46 267 46 402

13 798 13 793 13 803 13 858 13 900 13 921

37.6 37.8 37.7 37.6 37.7 37.8

40.4 40.8 40.8 40.3 40.9 40.9

2.94 2.95 2.97 2.98 3.00 3.01

2.81 2.82 2.84 2.85 2.87 2.88

110.54 111.51 111.97 112.05 113.10 113.78

113.52 115.06 115.87 114.86 117.38 117.79

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

68 126 68 328 68 487 68 720 68 985 69 245

56 108 56 286 56 420 56 619 56 878 57 100

22 329 22 350 22 390 22 419 22 512 22 617

18 265 18 254 18 252 18 293 18 346 18 410

45 797 45 978 46 097 46 301 46 473 46 628

46 562 46 669 46 792 46 989 47 244 47 384

13 953 13 903 13 914 13 974 14 028 14 044

37.7 37.7 37.7 37.7 37.5 37.5

40.8 40.7 40.9 41.0 40.9 40.7

3.03 3.03 3.06 3.07 3.09 3.11

2.89 2.89 2.92 2.94 2.96 2.97

114.23 114.23 115.36 115.74 115.88 116.63

117.91 117.62 119.43 120.54 121.06 120.88

1969 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

69 438 69 698 69 906 70 072 70 328 70 636

57 229 57 474 57 677 57 827 58 044 58 277

22 644 22 755 22 813 22 815 22 899 22 981

18 432 18 502 18 558 18 554 18 588 18 640

46 794 46 943 47 093 47 257 47 429 47 655

47 528 47 697 47 852 47 959 48 122 48 330

14 086 14 134 14 169 14 144 14 161 14 206

37.7 37.5 37.6 37.7 37.6 37.5

40.8 40.4 40.8 41.0 40.7 40.7

3.12 3.14 3.15 3.17 3.19 3.20

2.99 3.00 3.01 3.03 3.04 3.05

117.62 117.75 118.44 119.51 119.94 120.00

121.99 121.20 122.81 124.23 123.73 124.14

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

70 730 71 005 70 918 71 119 71 088 71 240

58 390 58 632 58 539 58 689 58 640 58 763

22 990 23 111 22 988 22 976 22 840 22 884

18 642 18 767 18 620 18 613 18 467 18 485

47 740 47 894 47 930 48 143 48 248 48 356

48 434 48 616 48 524 48 669 48 589 48 638

14 194 14 287 14 159 14 174 14 035 14 013

37.5 37.5 37.5 37.4 37.5 37.5

40.6 40.6 40.6 40.5 40.5 40.6

3.22 3.24 3.26 3.28 3.29 3.30

3.08 3.10 3.12 3.13 3.14 3.15

120.75 121.50 122.25 122.67 123.38 123.75

125.05 125.86 126.67 126.77 127.17 127.89

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1970 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

71 176 71 302 71 453 71 348 71 122 71 028

58 680 58 784 58 850 58 643 58 454 58 361

22 726 22 747 22 738 22 552 22 336 22 241

18 424 18 361 18 360 18 207 18 029 17 930

48 450 48 555 48 715 48 796 48 786 48 787

48 564 48 600 48 690 48 479 48 287 48 226

13 964 13 897 13 917 13 785 13 616 13 554

37.3 37.3 37.2 37.0 37.0 36.9

40.4 40.2 40.1 39.8 39.8 39.8

3.31 3.33 3.35 3.36 3.38 3.39

3.16 3.17 3.19 3.19 3.22 3.24

123.46 124.21 124.62 124.32 125.06 125.09

127.66 127.43 127.92 126.96 128.16 128.95

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

71 055 70 932 70 949 70 519 70 409 70 790

58 358 58 221 58 208 57 726 57 579 57 945

22 195 22 105 21 988 21 477 21 345 21 673

17 877 17 779 17 692 17 173 17 024 17 309

48 860 48 827 48 961 49 042 49 064 49 117

48 242 48 089 48 101 47 619 47 466 47 778

13 527 13 449 13 401 12 905 12 781 13 062

37.0 37.0 36.8 36.8 36.7 36.8

40.0 39.8 39.6 39.5 39.5 39.5

3.41 3.43 3.45 3.46 3.47 3.50

3.25 3.26 3.29 3.26 3.26 3.32

126.17 126.91 126.96 127.33 127.35 128.80

130.00 129.75 130.28 128.77 128.77 131.14

1971 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

70 866 70 805 70 859 71 037 71 247 71 253

57 988 57 928 57 951 58 092 58 277 58 245

21 594 21 514 21 491 21 552 21 645 21 568

17 280 17 216 17 154 17 149 17 225 17 139

49 272 49 291 49 368 49 485 49 602 49 685

47 859 47 779 47 819 47 966 48 153 48 109

13 069 13 033 12 984 12 993 13 081 13 012

36.8 36.7 36.7 36.8 36.7 36.8

39.9 39.7 39.8 39.9 40.0 39.9

3.52 3.54 3.56 3.57 3.60 3.62

3.36 3.39 3.39 3.41 3.43 3.45

129.54 129.92 130.65 131.38 132.12 133.22

134.06 134.58 134.92 136.06 137.20 137.66

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

71 316 71 368 71 620 71 642 71 844 72 108

58 305 58 327 58 552 58 527 58 696 58 918

21 564 21 570 21 650 21 604 21 684 21 741

17 126 17 115 17 154 17 126 17 166 17 202

49 752 49 798 49 970 50 038 50 160 50 367

48 167 48 164 48 362 48 305 48 442 48 613

13 001 12 993 13 038 13 027 13 064 13 078

36.7 36.7 36.7 36.8 36.9 36.9

40.0 39.8 39.7 39.9 40.0 40.2

3.63 3.66 3.67 3.68 3.69 3.73

3.46 3.48 3.48 3.50 3.49 3.55

133.22 134.32 134.69 135.42 136.16 137.64

138.40 138.50 138.16 139.65 139.60 142.71

1972 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

72 445 72 652 72 945 73 163 73 467 73 760

59 179 59 354 59 616 59 805 60 051 60 355

21 865 21 915 22 036 22 099 22 222 22 282

17 283 17 361 17 447 17 508 17 602 17 641

50 580 50 737 50 909 51 064 51 245 51 478

49 035 49 143 49 437 49 561 49 745 49 997

13 173 13 235 13 316 13 373 13 451 13 475

36.9 36.9 36.9 36.9 36.8 36.9

40.2 40.4 40.4 40.5 40.5 40.6

3.80 3.82 3.84 3.86 3.87 3.88

3.57 3.61 3.63 3.65 3.67 3.68

140.22 140.96 141.70 142.43 142.42 143.17

143.51 145.84 146.65 147.83 148.64 149.41

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

73 709 74 137 74 268 74 672 74 965 75 270

60 227 60 607 60 693 61 066 61 322 61 586

22 162 22 400 22 456 22 613 22 688 22 772

17 556 17 741 17 774 17 893 18 005 18 158

51 547 51 737 51 812 52 059 52 277 52 498

49 842 50 156 50 224 50 552 50 790 51 054

13 387 13 562 13 572 13 681 13 783 13 902

36.8 36.8 36.9 37.0 36.9 36.8

40.5 40.6 40.6 40.7 40.7 40.6

3.90 3.92 3.94 3.97 3.98 4.01

3.69 3.73 3.75 3.78 3.79 3.83

143.52 144.26 145.39 146.89 146.86 147.57

149.45 151.44 152.25 153.85 154.25 155.50

1973 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

75 620 76 017 76 286 76 456 76 646 76 886

61 930 62 306 62 541 62 679 62 829 63 014

22 955 23 160 23 262 23 316 23 382 23 485

18 276 18 410 18 493 18 530 18 564 18 606

52 665 52 857 53 024 53 140 53 264 53 401

51 349 51 686 51 901 51 982 52 082 52 234

14 006 14 127 14 181 14 192 14 217 14 253

36.8 36.9 37.0 36.9 36.9 36.9

40.4 40.9 40.9 40.8 40.7 40.7

4.03 4.04 4.06 4.08 4.10 4.12

3.86 3.87 3.88 3.91 3.93 3.95

148.30 149.08 150.22 150.55 151.29 152.03

155.94 158.28 158.69 159.53 159.95 160.77

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

76 911 77 166 77 281 77 605 77 909 78 035

63 046 63 262 63 389 63 628 63 874 63 965

23 522 23 559 23 548 23 641 23 719 23 779

18 598 18 629 18 609 18 702 18 773 18 820

53 389 53 607 53 733 53 964 54 190 54 256

52 238 52 393 52 410 52 655 52 847 52 954

14 232 14 251 14 213 14 289 14 342 14 386

36.9 36.9 36.8 36.7 36.9 36.7

40.7 40.6 40.7 40.6 40.6 40.6

4.15 4.16 4.19 4.21 4.23 4.25

3.98 4.00 4.03 4.05 4.07 4.09

153.14 153.50 154.19 154.51 156.09 155.98

161.99 162.40 164.02 164.43 165.24 166.05

1974 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

78 104 78 253 78 295 78 384 78 547 78 602

64 014 64 118 64 143 64 193 64 326 64 363

23 709 23 718 23 687 23 670 23 635 23 591

18 788 18 727 18 700 18 702 18 688 18 690

54 395 54 535 54 608 54 714 54 912 55 011

52 896 52 971 52 951 53 003 53 095 53 107

14 340 14 269 14 223 14 225 14 199 14 197

36.6 36.6 36.6 36.4 36.5 36.5

40.5 40.4 40.4 39.5 40.3 40.2

4.26 4.29 4.31 4.34 4.39 4.43

4.10 4.13 4.15 4.16 4.25 4.30

155.92 157.01 157.75 157.98 160.24 161.70

166.05 166.85 167.66 164.32 171.28 172.86

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

78 634 78 619 78 614 78 627 78 259 77 657

64 346 64 291 64 192 64 143 63 727 63 098

23 462 23 396 23 274 23 118 22 773 22 303

18 656 18 570 18 492 18 364 18 077 17 693

55 172 55 223 55 340 55 509 55 486 55 354

53 044 53 025 52 915 52 836 52 413 51 856

14 152 14 089 14 025 13 884 13 607 13 259

36.5 36.5 36.4 36.3 36.1 36.1

40.1 40.2 40.0 40.0 39.5 39.3

4.45 4.49 4.53 4.56 4.57 4.60

4.33 4.38 4.42 4.48 4.49 4.52

162.43 163.89 164.89 165.53 164.98 166.06

173.63 176.08 176.80 179.20 177.36 177.64

1975 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

77 297 76 919 76 649 76 463 76 623 76 519

62 673 62 172 61 895 61 668 61 796 61 735

21 974 21 512 21 274 21 109 21 097 21 018

17 344 17 004 16 853 16 759 16 746 16 690

55 323 55 407 55 375 55 354 55 526 55 501

51 439 50 934 50 666 50 439 50 558 50 537

12 933 12 622 12 483 12 407 12 406 12 371

36.1 35.9 35.7 35.8 35.9 35.9

39.2 38.9 38.8 39.0 39.0 39.2

4.61 4.63 4.66 4.66 4.68 4.72

4.54 4.58 4.63 4.63 4.65 4.68

166.42 166.22 166.36 166.83 168.01 169.45

177.97 178.16 179.64 180.57 181.35 183.46

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

76 768 77 154 77 232 77 535 77 679 78 017

61 907 62 284 62 408 62 635 62 776 63 071

20 981 21 176 21 284 21 384 21 442 21 602

16 678 16 824 16 904 16 984 17 025 17 140

55 787 55 978 55 948 56 151 56 237 56 415

50 726 51 070 51 183 51 376 51 458 51 759

12 374 12 538 12 617 12 687 12 700 12 811

35.9 36.1 36.1 36.1 36.1 36.2

39.4 39.7 39.8 39.9 39.9 40.2

4.73 4.77 4.79 4.81 4.85 4.87

4.71 4.75 4.78 4.80 4.83 4.86

169.81 172.20 172.92 173.64 175.09 176.29

185.57 188.58 190.24 191.52 192.72 195.37

479

480

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1976 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

78 506 78 817 79 049 79 293 79 311 79 376

63 537 63 836 64 062 64 308 64 340 64 413

21 799 21 893 21 980 22 050 21 988 21 982

17 287 17 384 17 470 17 541 17 513 17 521

56 707 56 924 57 069 57 243 57 323 57 394

52 182 52 430 52 615 52 810 52 802 52 830

12 945 13 030 13 092 13 160 13 130 13 121

36.3 36.3 36.0 36.0 36.1 36.1

40.3 40.4 40.2 39.6 40.3 40.2

4.89 4.93 4.95 4.97 5.01 5.03

4.90 4.94 4.98 4.98 5.04 5.07

177.51 178.96 178.20 178.92 180.86 181.58

197.47 199.58 200.20 197.21 203.11 203.81

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

79 546 79 704 79 892 79 905 80 237 80 448

64 553 64 697 64 921 64 877 65 164 65 373

21 988 22 038 22 142 22 037 22 207 22 261

17 524 17 596 17 665 17 548 17 682 17 719

57 558 57 666 57 750 57 868 58 030 58 187

52 973 53 072 53 268 53 165 53 362 53 543

13 124 13 195 13 253 13 109 13 199 13 230

36.1 36.0 36.0 35.9 35.9 35.9

40.3 40.2 40.2 40.0 40.1 39.9

5.06 5.11 5.14 5.16 5.20 5.22

5.11 5.16 5.20 5.19 5.25 5.29

182.67 183.96 185.04 185.24 186.68 187.40

205.93 207.43 209.04 207.60 210.53 211.07

1977 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

80 692 80 987 81 391 81 730 82 089 82 488

65 636 65 931 66 341 66 655 66 957 67 281

22 320 22 478 22 672 22 807 22 919 23 046

17 803 17 843 17 941 18 024 18 107 18 192

58 372 58 509 58 719 58 923 59 170 59 442

53 756 54 016 54 390 54 670 54 940 55 195

13 305 13 331 13 424 13 490 13 567 13 622

35.6 36.0 35.9 36.0 36.0 36.0

39.4 40.2 40.3 40.4 40.5 40.5

5.25 5.29 5.32 5.36 5.39 5.42

5.35 5.36 5.40 5.45 5.49 5.54

186.90 190.44 190.99 192.96 194.04 195.12

210.79 215.47 217.62 220.18 222.35 224.37

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

82 836 83 074 83 532 83 794 84 173 84 408

67 537 67 746 68 129 68 331 68 658 68 870

23 106 23 124 23 244 23 279 23 371 23 371

18 259 18 276 18 334 18 356 18 419 18 531

59 730 59 950 60 288 60 515 60 802 61 037

55 395 55 543 55 859 56 004 56 281 56 466

13 670 13 679 13 714 13 722 13 771 13 861

35.9 35.9 35.9 36.0 35.9 35.8

40.4 40.4 40.4 40.6 40.5 40.4

5.45 5.47 5.50 5.55 5.58 5.60

5.58 5.61 5.65 5.69 5.72 5.75

195.66 196.37 197.45 199.80 200.32 200.48

225.43 226.64 228.26 231.01 231.66 232.30

1978 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

84 595 84 948 85 461 86 163 86 509 86 951

68 984 69 277 69 730 70 366 70 675 71 099

23 374 23 453 23 649 24 008 24 082 24 238

18 593 18 639 18 699 18 772 18 848 18 919

61 221 61 495 61 812 62 155 62 427 62 713

56 547 56 768 57 176 57 709 57 941 58 263

13 917 13 950 13 992 14 037 14 096 14 129

35.3 35.6 35.8 35.8 35.8 35.9

39.5 39.9 40.5 40.4 40.4 40.6

5.65 5.68 5.72 5.78 5.81 5.86

5.83 5.86 5.88 5.93 5.96 6.01

199.45 202.21 204.78 206.92 208.00 210.37

230.29 233.81 238.14 239.57 240.78 244.01

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

87 205 87 481 87 618 87 954 88 391 88 674

71 304 71 590 71 799 72 096 72 497 72 763

24 300 24 374 24 444 24 548 24 678 24 758

18 951 19 006 19 068 19 142 19 257 19 334

62 905 63 107 63 174 63 406 63 713 63 916

58 422 58 626 58 819 59 017 59 377 59 599

14 152 14 187 14 241 14 291 14 388 14 459

35.9 35.8 35.8 35.8 35.7 35.7

40.6 40.5 40.5 40.5 40.6 40.5

5.89 5.92 5.96 6.02 6.05 6.09

6.06 6.09 6.15 6.20 6.26 6.31

211.45 211.94 213.37 215.52 215.99 217.41

246.04 246.65 249.08 251.10 254.16 255.56

1979 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

88 811 89 054 89 480 89 418 89 790 90 108

72 874 73 107 73 524 73 441 73 800 74 063

24 740 24 784 24 998 24 958 25 071 25 161

19 388 19 409 19 453 19 450 19 509 19 553

64 071 64 270 64 482 64 460 64 719 64 947

59 659 59 840 60 216 60 067 60 368 60 583

14 497 14 501 14 526 14 515 14 551 14 566

35.6 35.7 35.8 35.3 35.6 35.6

40.4 40.5 40.6 39.3 40.2 40.2

6.13 6.17 6.21 6.21 6.27 6.31

6.36 6.40 6.45 6.43 6.52 6.56

218.23 220.27 222.32 219.21 223.21 224.64

256.94 259.20 261.87 252.70 262.10 263.71

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

90 214 90 296 90 323 90 480 90 574 90 669

74 064 74 067 74 195 74 344 74 401 74 489

25 163 25 059 25 088 25 038 24 947 24 970

19 531 19 406 19 442 19 390 19 299 19 301

65 051 65 237 65 235 65 442 65 627 65 699

60 558 60 516 60 629 60 746 60 778 60 860

14 536 14 397 14 440 14 384 14 295 14 300

35.6 35.6 35.6 35.6 35.6 35.5

40.2 40.1 40.1 40.2 40.1 40.1

6.35 6.39 6.44 6.46 6.50 6.56

6.59 6.63 6.67 6.71 6.74 6.80

226.06 227.48 229.26 229.98 231.40 232.88

264.92 265.86 267.47 269.74 270.27 272.68

1980 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

90 800 90 879 90 991 90 846 90 415 90 095

74 599 74 653 74 695 74 263 73 961 73 654

24 949 24 874 24 818 24 507 24 234 23 968

19 282 19 219 19 217 18 973 18 726 18 490

65 851 66 005 66 173 66 339 66 181 66 127

60 896 60 964 60 987 60 540 60 194 59 892

14 241 14 170 14 165 13 914 13 632 13 405

35.4 35.4 35.3 35.2 35.1 35.0

40.0 40.1 39.9 39.8 39.3 39.2

6.56 6.62 6.69 6.71 6.75 6.81

6.82 6.88 6.95 6.97 7.02 7.10

232.22 234.35 236.16 236.19 236.93 238.35

272.80 275.89 277.31 277.41 275.89 278.32

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

89 832 90 092 90 205 90 485 90 741 90 936

73 414 73 682 73 875 74 099 74 350 74 563

23 698 23 860 23 931 24 012 24 123 24 182

18 276 18 414 18 445 18 506 18 601 18 640

66 134 66 232 66 274 66 473 66 618 66 754

59 693 59 908 60 075 60 239 60 449 60 606

13 227 13 349 13 396 13 437 13 528 13 550

34.9 35.1 35.1 35.2 35.3 35.3

39.1 39.5 39.6 39.8 39.9 40.1

6.85 6.90 6.94 7.01 7.08 7.12

7.16 7.24 7.30 7.38 7.47 7.52

239.07 242.19 243.59 246.75 249.92 251.34

279.96 285.98 289.08 293.72 298.05 301.55

1981 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

91 031 91 098 91 202 91 276 91 286 91 482

74 671 74 752 74 910 75 016 75 088 75 323

24 152 24 118 24 203 24 151 24 148 24 290

18 639 18 613 18 647 18 711 18 766 18 789

66 879 66 980 66 999 67 125 67 138 67 192

60 710 60 736 60 875 60 973 60 973 61 134

13 545 13 518 13 550 13 594 13 633 13 632

35.4 35.2 35.3 35.3 35.3 35.2

40.1 39.8 40.0 40.1 40.2 40.0

7.18 7.22 7.28 7.32 7.36 7.41

7.58 7.62 7.68 7.76 7.81 7.85

254.17 254.14 256.98 258.40 259.81 260.83

303.96 303.28 307.20 311.18 313.96 314.00

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

91 594 91 558 91 471 91 371 91 162 90 884

75 419 75 448 75 440 75 302 75 084 74 811

24 302 24 258 24 210 24 051 23 875 23 656

18 785 18 748 18 712 18 566 18 409 18 223

67 292 67 300 67 261 67 320 67 287 67 228

61 222 61 216 61 235 61 066 60 817 60 511

13 629 13 573 13 565 13 399 13 235 13 033

35.2 35.2 35.0 35.1 35.1 34.9

39.9 40.0 39.6 39.6 39.4 39.2

7.45 7.52 7.56 7.58 7.63 7.63

7.89 7.97 8.03 8.06 8.08 8.09

262.24 264.70 264.60 266.06 267.81 266.29

314.81 318.80 317.99 319.18 318.35 317.13

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1982 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

90 557 90 551 90 422 90 141 90 096 89 853

74 516 74 540 74 398 74 131 74 093 73 837

23 362 23 361 23 214 22 996 22 884 22 643

18 047 17 981 17 857 17 683 17 588 17 430

67 195 67 190 67 208 67 145 67 212 67 210

60 206 60 277 60 140 59 867 59 840 59 589

12 874 12 831 12 727 12 566 12 506 12 365

34.1 35.1 34.9 34.8 34.8 34.8

37.3 39.6 39.1 39.1 39.1 39.2

7.71 7.72 7.75 7.76 7.82 7.84

8.26 8.21 8.24 8.28 8.33 8.37

262.91 270.97 270.48 270.05 272.14 272.83

308.10 325.12 322.18 323.75 325.70 328.10

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

89 510 89 352 89 171 88 894 88 770 88 756

73 620 73 422 73 248 72 938 72 793 72 775

22 434 22 268 22 146 21 879 21 736 21 688

17 278 17 160 17 074 16 853 16 722 16 690

67 076 67 084 67 025 67 015 67 034 67 068

59 411 59 203 59 069 58 750 58 613 58 585

12 261 12 153 12 104 11 880 11 766 11 746

34.8 34.7 34.8 34.6 34.6 34.7

39.2 39.0 39.0 38.9 39.0 39.0

7.88 7.93 7.93 7.95 7.97 8.01

8.40 8.43 8.45 8.44 8.46 8.49

274.22 275.17 275.96 275.07 275.76 277.95

329.28 328.77 329.55 328.32 329.94 331.11

1983 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

88 981 88 903 89 076 89 352 89 629 90 007

72 958 72 899 73 071 73 362 73 624 73 987

21 757 21 676 21 649 21 729 21 829 21 949

16 705 16 706 16 711 16 794 16 885 16 960

67 224 67 227 67 427 67 623 67 800 68 058

58 813 58 792 58 958 59 201 59 444 59 806

11 783 11 794 11 817 11 894 11 987 12 054

34.8 34.5 34.7 34.8 34.9 34.9

39.3 39.3 39.6 39.7 40.0 40.1

8.05 8.09 8.09 8.12 8.16 8.18

8.52 8.59 8.59 8.61 8.64 8.66

280.14 279.11 280.72 282.58 284.78 285.48

334.84 337.59 340.16 341.82 345.60 347.27

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

90 425 90 117 91 231 91 502 91 854 92 210

74 414 74 101 75 189 75 516 75 857 76 202

22 103 22 207 22 381 22 546 22 698 22 803

17 059 17 118 17 255 17 367 17 479 17 551

68 322 67 910 68 850 68 956 69 156 69 407

60 189 59 820 60 849 61 095 61 378 61 664

12 155 12 200 12 318 12 408 12 503 12 553

34.9 34.9 35.0 35.2 35.1 35.1

40.3 40.3 40.6 40.6 40.6 40.5

8.22 8.19 8.25 8.30 8.31 8.32

8.71 8.71 8.76 8.80 8.84 8.87

286.88 285.83 288.75 292.16 291.68 292.03

351.01 351.01 355.66 357.28 358.90 359.24

1984 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

92 657 93 136 93 411 93 774 94 082 94 461

76 647 77 111 77 381 77 699 77 979 78 334

22 942 23 146 23 209 23 305 23 389 23 497

17 630 17 728 17 806 17 872 17 916 17 967

69 715 69 990 70 202 70 469 70 693 70 964

61 906 62 329 62 516 62 801 63 012 63 296

12 617 12 703 12 768 12 814 12 840 12 871

35.1 35.3 35.1 35.2 35.1 35.1

40.6 41.1 40.7 40.8 40.7 40.6

8.37 8.36 8.40 8.44 8.43 8.47

8.91 8.92 8.96 8.98 8.99 9.03

293.79 295.11 294.84 297.09 295.89 297.30

361.75 366.61 364.67 366.38 365.89 366.62

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

94 773 95 014 95 325 95 611 95 960 96 087

78 601 78 790 79 070 79 337 79 649 79 805

23 571 23 608 23 617 23 626 23 639 23 673

18 013 18 034 18 019 18 024 18 016 18 023

71 202 71 406 71 708 71 985 72 321 72 414

63 517 63 654 63 874 64 083 64 325 64 441

12 901 12 906 12 880 12 868 12 846 12 848

35.1 35.0 35.1 34.9 35.0 35.1

40.6 40.5 40.5 40.5 40.4 40.5

8.51 8.51 8.55 8.54 8.56 8.60

9.05 9.09 9.12 9.15 9.19 9.22

298.70 297.85 300.11 298.05 299.60 301.86

367.43 368.15 369.36 370.58 371.28 373.41

1985 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

96 353 96 477 96 823 97 018 97 292 97 437

80 017 80 128 80 428 80 588 80 818 80 939

23 672 23 621 23 661 23 644 23 632 23 592

18 009 17 966 17 939 17 886 17 855 17 819

72 681 72 856 73 162 73 374 73 660 73 845

64 657 64 758 65 007 65 113 65 307 65 382

12 833 12 784 12 758 12 701 12 673 12 635

34.9 34.8 34.9 34.9 34.9 34.9

40.3 40.1 40.4 40.5 40.4 40.5

8.60 8.63 8.66 8.68 8.69 8.73

9.27 9.29 9.32 9.35 9.37 9.39

300.14 300.32 302.23 302.93 303.28 304.68

373.58 372.53 376.53 378.68 378.55 380.30

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

97 626 97 819 98 023 98 210 98 419 98 587

81 006 81 200 81 385 81 556 81 745 81 893

23 549 23 546 23 528 23 529 23 520 23 518

17 776 17 756 17 718 17 708 17 697 17 693

74 077 74 273 74 495 74 681 74 899 75 069

65 432 65 615 65 750 65 917 66 069 66 197

12 596 12 593 12 556 12 556 12 545 12 550

34.8 34.8 34.8 34.8 34.8 34.9

40.4 40.6 40.6 40.7 40.7 40.9

8.73 8.76 8.79 8.78 8.81 8.86

9.42 9.43 9.44 9.46 9.49 9.55

303.80 304.85 305.89 305.54 306.59 309.21

380.57 382.86 383.26 385.02 386.24 390.60

1986 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

98 710 98 817 98 910 99 098 99 223 99 130

81 995 82 058 82 155 82 333 82 433 82 351

23 530 23 485 23 428 23 427 23 349 23 263

17 686 17 663 17 624 17 616 17 593 17 530

75 180 75 332 75 482 75 671 75 874 75 867

66 293 66 365 66 403 66 531 66 606 66 533

12 546 12 530 12 498 12 495 12 474 12 424

35.0 34.8 34.8 34.7 34.8 34.7

40.7 40.7 40.7 40.5 40.7 40.7

8.84 8.87 8.88 8.88 8.89 8.90

9.53 9.56 9.58 9.56 9.59 9.58

309.40 308.68 309.02 308.14 309.37 308.83

387.87 389.09 389.91 387.18 390.31 389.91

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

99 448 99 561 99 907 100 094 100 280 100 484

82 669 82 761 82 997 83 125 83 275 83 463

23 235 23 225 23 216 23 208 23 204 23 237

17 497 17 489 17 498 17 477 17 472 17 478

76 213 76 336 76 691 76 886 77 076 77 247

66 810 66 909 67 108 67 206 67 344 67 493

12 389 12 399 12 411 12 396 12 407 12 425

34.6 34.7 34.6 34.6 34.7 34.6

40.6 40.7 40.7 40.6 40.7 40.8

8.91 8.93 8.93 8.95 8.99 9.00

9.60 9.61 9.60 9.62 9.64 9.66

308.29 309.87 308.98 309.67 311.95 311.40

389.76 391.13 390.72 390.57 392.35 394.13

1987 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

100 655 100 887 101 136 101 474 101 701 101 872

83 610 83 851 84 072 84 365 84 589 84 748

23 232 23 296 23 307 23 342 23 390 23 390

17 465 17 499 17 507 17 525 17 542 17 537

77 423 77 591 77 829 78 132 78 311 78 482

67 614 67 845 67 991 68 237 68 426 68 552

12 405 12 438 12 446 12 465 12 481 12 482

34.7 34.9 34.7 34.7 34.8 34.7

40.8 41.2 41.0 40.8 41.0 40.9

9.01 9.04 9.06 9.07 9.10 9.10

9.67 9.69 9.71 9.71 9.73 9.74

312.65 315.50 314.38 314.73 316.68 315.77

394.54 399.23 398.11 396.17 398.93 398.37

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

102 218 102 388 102 617 103 109 103 340 103 634

85 058 85 216 85 482 85 840 86 041 86 287

23 455 23 506 23 566 23 655 23 711 23 772

17 593 17 630 17 691 17 729 17 775 17 809

78 763 78 882 79 051 79 454 79 629 79 862

68 798 68 926 69 139 69 416 69 594 69 826

12 521 12 560 12 614 12 637 12 678 12 707

34.7 34.9 34.7 34.8 34.8 34.6

41.0 40.9 40.8 41.1 41.0 41.0

9.11 9.17 9.18 9.21 9.26 9.27

9.74 9.80 9.85 9.84 9.87 9.89

316.12 320.03 318.55 320.51 322.25 320.74

399.34 400.82 401.88 404.42 404.67 405.49

481

482

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1988 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

103 728 104 180 104 456 104 701 104 928 105 291

86 363 86 791 87 009 87 249 87 447 87 776

23 668 23 769 23 824 23 880 23 896 23 951

17 790 17 823 17 844 17 874 17 892 17 916

80 060 80 411 80 632 80 821 81 032 81 340

69 833 70 228 70 371 70 578 70 693 71 000

12 684 12 706 12 712 12 733 12 747 12 767

34.6 34.7 34.5 34.6 34.6 34.6

41.1 41.1 40.9 41.0 41.0 41.1

9.28 9.28 9.30 9.35 9.40 9.41

9.91 9.92 9.94 9.99 10.02 10.04

321.09 322.02 320.85 323.51 325.24 325.59

407.30 407.71 406.55 409.59 410.82 412.64

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

105 514 105 635 105 975 106 243 106 582 106 871

88 020 88 091 88 341 88 573 88 836 89 135

23 966 23 926 23 942 23 987 24 030 24 054

17 926 17 891 17 914 17 966 18 003 18 025

81 548 81 709 82 033 82 256 82 552 82 817

71 210 71 273 71 456 71 649 71 872 72 144

12 774 12 752 12 764 12 812 12 851 12 864

34.7 34.5 34.5 34.7 34.5 34.6

41.1 40.9 41.0 41.1 41.1 40.9

9.44 9.45 9.50 9.55 9.57 9.59

10.05 10.07 10.12 10.16 10.19 10.20

327.57 326.03 327.75 331.39 330.17 331.81

413.06 411.86 414.92 417.58 418.81 417.18

1989 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

107 133 107 391 107 583 107 756 107 874 107 991

89 359 89 579 89 761 89 916 89 998 90 079

24 097 24 080 24 069 24 100 24 089 24 052

18 057 18 055 18 060 18 055 18 040 18 013

83 036 83 311 83 514 83 656 83 785 83 939

72 361 72 545 72 663 72 788 72 826 72 906

12 882 12 880 12 878 12 867 12 852 12 822

34.7 34.5 34.5 34.6 34.4 34.4

41.1 41.2 41.1 41.1 41.0 40.9

9.64 9.67 9.69 9.74 9.72 9.76

10.23 10.26 10.29 10.28 10.30 10.33

334.51 333.62 334.31 337.00 334.37 335.74

420.45 422.71 422.92 422.51 422.30 422.50

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

108 030 108 077 108 326 108 437 108 714 108 809

90 125 90 088 90 299 90 404 90 657 90 734

24 027 24 048 24 000 23 997 24 009 23 949

17 980 17 964 17 922 17 895 17 886 17 881

84 003 84 029 84 326 84 440 84 705 84 860

72 943 72 931 73 080 73 176 73 392 73 468

12 790 12 790 12 745 12 723 12 713 12 705

34.5 34.5 34.4 34.6 34.4 34.3

40.9 40.9 40.8 40.8 40.7 40.5

9.81 9.82 9.86 9.92 9.92 9.97

10.36 10.39 10.41 10.43 10.44 10.49

338.45 338.79 339.18 343.23 341.25 341.97

423.72 424.95 424.73 425.54 424.91 424.85

1990 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

109 144 109 397 109 618 109 652 109 801 109 820

90 993 91 220 91 324 91 275 91 202 91 264

23 981 24 074 24 025 23 966 23 887 23 847

17 796 17 896 17 870 17 845 17 796 17 774

85 163 85 323 85 593 85 686 85 914 85 973

73 701 73 901 73 963 73 928 73 839 73 824

12 739 12 848 12 823 12 806 12 755 12 736

34.4 34.3 34.4 34.3 34.3 34.4

40.5 40.6 40.7 40.6 40.6 40.7

10.00 10.06 10.10 10.12 10.14 10.19

10.51 10.64 10.70 10.68 10.74 10.77

344.00 345.06 347.44 347.12 347.80 350.54

425.66 431.98 435.49 433.61 436.04 438.34

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

109 773 109 569 109 485 109 321 109 175 109 118

91 213 91 112 91 048 90 878 90 725 90 650

23 746 23 646 23 572 23 470 23 283 23 203

17 704 17 647 17 610 17 574 17 428 17 395

86 027 85 923 85 913 85 851 85 892 85 915

73 773 73 705 73 606 73 466 73 316 73 250

12 675 12 622 12 601 12 576 12 439 12 413

34.3 34.2 34.2 34.1 34.2 34.2

40.6 40.5 40.5 40.4 40.2 40.3

10.21 10.23 10.27 10.29 10.31 10.33

10.81 10.80 10.87 10.92 10.89 10.93

350.20 349.87 351.23 350.89 352.60 353.29

438.89 437.40 440.24 441.17 437.78 440.48

1991 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

108 998 108 698 108 542 108 325 108 203 108 283

90 524 90 216 90 054 89 840 89 705 89 722

23 060 22 903 22 780 22 687 22 617 22 569

17 329 17 214 17 141 17 093 17 069 17 042

85 938 85 795 85 762 85 638 85 586 85 714

73 103 72 815 72 666 72 496 72 395 72 417

12 351 12 243 12 191 12 158 12 142 12 134

34.1 34.1 34.0 34.0 34.0 34.1

40.2 40.1 40.0 40.1 40.1 40.5

10.36 10.38 10.40 10.44 10.47 10.51

10.97 10.98 11.00 11.03 11.08 11.13

353.28 353.96 353.60 354.96 355.98 358.39

440.99 440.30 440.00 442.30 444.31 450.77

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

108 233 108 252 108 285 108 293 108 235 108 261

89 635 89 685 89 742 89 700 89 608 89 620

22 508 22 493 22 467 22 416 22 315 22 274

17 016 17 025 17 011 16 997 16 960 16 916

85 725 85 759 85 818 85 877 85 920 85 987

72 383 72 435 72 453 72 421 72 350 72 394

12 132 12 151 12 143 12 138 12 103 12 074

34.1 34.1 34.1 34.2 34.1 34.1

40.5 40.6 40.6 40.6 40.6 40.7

10.53 10.54 10.57 10.58 10.60 10.63

11.17 11.18 11.22 11.25 11.26 11.26

359.07 359.41 360.44 361.84 361.46 362.48

452.39 453.91 455.53 456.75 457.16 458.28

1992 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

108 313 108 242 108 301 108 457 108 584 108 640

89 625 89 553 89 586 89 718 89 831 89 878

22 213 22 144 22 127 22 131 22 134 22 096

16 839 16 831 16 805 16 830 16 834 16 825

86 100 86 098 86 174 86 326 86 450 86 544

72 422 72 406 72 421 72 570 72 684 72 725

12 009 12 018 12 006 12 029 12 045 12 041

34.1 34.1 34.1 34.3 34.2 34.1

40.6 40.7 40.7 40.9 40.9 40.8

10.63 10.66 10.69 10.71 10.73 10.75

11.24 11.30 11.33 11.36 11.39 11.41

362.48 363.51 364.53 367.35 366.97 366.58

456.34 459.91 461.13 464.62 465.85 465.53

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

108 714 108 851 108 888 109 061 109 205 109 418

89 897 89 968 90 059 90 233 90 364 90 540

22 077 22 044 22 021 22 028 22 042 22 075

16 822 16 782 16 762 16 750 16 758 16 768

86 637 86 807 86 867 87 033 87 163 87 343

72 731 72 815 72 921 73 076 73 219 73 411

12 047 12 020 12 005 12 001 12 008 12 029

34.2 34.2 34.3 34.2 34.2 34.2

40.8 40.8 40.8 40.8 40.9 40.9

10.77 10.81 10.81 10.84 10.86 10.88

11.43 11.47 11.46 11.47 11.49 11.51

368.33 369.70 370.78 370.73 371.41 372.10

466.34 467.98 467.57 467.98 469.94 470.76

1993 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

109 725 109 962 109 916 110 223 110 496 110 660

90 824 91 060 91 009 91 285 91 545 91 691

22 132 22 189 22 142 22 130 22 189 22 165

16 790 16 806 16 795 16 771 16 766 16 742

87 593 87 773 87 774 88 093 88 307 88 495

73 678 73 940 73 855 74 077 74 332 74 438

12 056 12 075 12 074 12 055 12 056 12 038

34.3 34.3 34.1 34.4 34.3 34.3

41.1 41.1 40.8 41.5 41.1 41.0

10.92 10.93 10.98 10.98 11.01 11.02

11.55 11.58 11.58 11.63 11.66 11.67

374.56 374.90 374.42 377.71 377.64 377.99

474.71 475.94 472.46 482.65 479.23 478.47

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

110 960 111 119 111 359 111 638 111 901 112 203

91 900 92 091 92 318 92 596 92 833 93 094

22 186 22 203 22 251 22 306 22 347 22 413

16 742 16 741 16 768 16 778 16 800 16 815

88 774 88 916 89 108 89 332 89 554 89 790

74 615 74 793 74 981 75 229 75 443 75 662

12 041 12 049 12 081 12 093 12 116 12 142

34.4 34.3 34.4 34.4 34.4 34.4

41.1 41.2 41.3 41.3 41.3 41.4

11.04 11.07 11.09 11.11 11.14 11.17

11.69 11.72 11.77 11.79 11.83 11.88

379.78 379.70 381.50 382.18 383.22 384.25

480.46 482.86 486.10 486.93 488.58 491.83

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

1994 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

112 473 112 665 113 133 113 490 113 829 114 139

93 326 93 515 93 943 94 267 94 565 94 865

22 463 22 451 22 549 22 640 22 704 22 765

16 853 16 862 16 896 16 932 16 962 17 011

90 010 90 214 90 584 90 850 91 125 91 374

75 875 76 075 76 436 76 734 77 013 77 265

12 181 12 199 12 234 12 275 12 305 12 353

34.4 34.2 34.5 34.5 34.5 34.5

41.4 40.9 41.7 41.7 41.8 41.8

11.19 11.23 11.23 11.26 11.28 11.30

11.89 11.98 11.95 11.96 11.98 12.00

384.94 384.07 387.44 388.47 389.16 389.85

492.25 489.98 498.32 498.73 500.76 501.60

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

114 498 114 801 115 155 115 361 115 786 116 056

95 197 95 495 95 818 96 017 96 419 96 668

22 808 22 877 22 947 22 974 23 051 23 096

17 027 17 082 17 114 17 144 17 187 17 218

91 690 91 924 92 208 92 387 92 735 92 960

77 566 77 802 78 069 78 253 78 600 78 839

12 369 12 429 12 460 12 490 12 527 12 559

34.6 34.5 34.4 34.5 34.5 34.5

41.8 41.7 41.6 41.8 41.8 41.8

11.33 11.34 11.37 11.42 11.43 11.46

12.02 12.05 12.09 12.12 12.15 12.16

392.02 391.23 391.13 393.99 394.34 395.37

502.44 502.49 502.94 506.62 507.87 508.29

1995 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

116 377 116 588 116 808 116 971 116 962 117 189

96 980 97 181 97 381 97 537 97 544 97 744

23 144 23 102 23 151 23 174 23 121 23 140

17 259 17 264 17 263 17 278 17 260 17 250

93 233 93 486 93 657 93 797 93 841 94 049

79 086 79 240 79 423 79 560 79 577 79 740

12 593 12 601 12 600 12 609 12 592 12 575

34.5 34.4 34.4 34.3 34.2 34.3

41.8 41.7 41.5 41.2 41.2 41.2

11.47 11.52 11.54 11.56 11.58 11.62

12.19 12.25 12.25 12.25 12.28 12.31

395.72 396.29 396.98 396.51 396.04 398.57

509.54 510.83 508.38 504.70 505.94 507.17

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

117 260 117 538 117 777 117 926 118 070 118 210

97 823 98 109 98 347 98 462 98 607 98 744

23 119 23 165 23 207 23 205 23 198 23 208

17 218 17 241 17 246 17 215 17 207 17 230

94 141 94 373 94 570 94 721 94 872 95 002

79 811 80 059 80 253 80 373 80 451 80 604

12 538 12 568 12 566 12 535 12 517 12 548

34.3 34.3 34.3 34.3 34.3 34.2

41.1 41.2 41.2 41.2 41.3 40.9

11.66 11.68 11.71 11.75 11.77 11.79

12.38 12.39 12.41 12.44 12.45 12.49

399.94 400.62 401.65 403.03 403.71 403.22

508.82 510.47 511.29 512.53 514.19 510.84

1996 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

118 192 118 627 118 882 119 047 119 376 119 647

98 742 99 142 99 350 99 532 99 847 100 119

23 194 23 280 23 275 23 316 23 357 23 399

17 206 17 229 17 192 17 204 17 221 17 226

94 998 95 347 95 607 95 731 96 019 96 248

80 529 80 914 81 092 81 259 81 515 81 733

12 520 12 531 12 489 12 505 12 514 12 526

33.8 34.3 34.3 34.2 34.3 34.4

39.7 41.3 41.1 41.2 41.3 41.5

11.84 11.86 11.88 11.94 11.96 12.02

12.60 12.56 12.50 12.69 12.70 12.76

400.19 406.80 407.48 408.35 410.23 413.49

500.22 518.73 513.75 522.83 524.51 529.54

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

119 875 120 078 120 296 120 534 120 826 121 003

100 328 100 574 100 729 100 980 101 261 101 432

23 417 23 479 23 498 23 546 23 583 23 599

17 222 17 255 17 253 17 268 17 276 17 285

96 458 96 599 96 798 96 988 97 243 97 404

81 921 82 118 82 243 82 476 82 664 82 831

12 516 12 543 12 544 12 558 12 561 12 569

34.3 34.3 34.4 34.4 34.4 34.4

41.4 41.5 41.6 41.4 41.5 41.7

12.04 12.08 12.12 12.14 12.19 12.23

12.79 12.82 12.85 12.84 12.88 12.95

412.97 414.34 416.93 417.62 419.34 420.71

529.51 532.03 534.56 531.58 534.52 540.02

1997 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

121 232 121 526 121 843 122 134 122 396 122 642

101 639 101 928 102 235 102 531 102 795 102 982

23 619 23 686 23 738 23 767 23 809 23 834

17 298 17 316 17 339 17 351 17 362 17 387

97 613 97 840 98 105 98 367 98 587 98 808

82 973 83 252 83 478 83 727 83 943 84 080

12 579 12 592 12 613 12 618 12 630 12 649

34.3 34.5 34.5 34.6 34.5 34.4

41.4 41.6 41.8 41.8 41.7 41.6

12.27 12.30 12.35 12.37 12.42 12.45

12.99 13.00 13.04 13.04 13.06 13.09

420.86 424.35 426.08 428.00 428.49 428.28

537.79 540.80 545.07 545.07 544.60 544.54

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

122 918 122 911 123 417 123 756 124 063 124 361

103 232 103 294 103 738 104 018 104 302 104 595

23 860 23 951 23 997 24 053 24 111 24 183

17 387 17 451 17 466 17 513 17 555 17 587

99 058 98 960 99 420 99 703 99 952 100 178

84 320 84 264 84 659 84 869 85 053 85 288

12 645 12 697 12 710 12 746 12 774 12 798

34.5 34.6 34.6 34.5 34.6 34.6

41.6 41.6 41.7 41.8 41.8 42.0

12.48 12.55 12.58 12.65 12.70 12.73

13.09 13.17 13.17 13.28 13.32 13.35

430.56 434.23 435.27 436.43 439.42 440.46

544.54 547.87 549.19 555.10 556.78 560.70

1998 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

124 629 124 814 124 962 125 240 125 641 125 846

104 859 105 028 105 170 105 424 105 766 105 967

24 264 24 283 24 264 24 339 24 361 24 386

17 621 17 627 17 637 17 636 17 624 17 607

100 365 100 531 100 698 100 901 101 280 101 460

85 438 85 605 85 629 85 845 86 124 86 274

12 819 12 828 12 822 12 813 12 790 12 772

34.6 34.6 34.5 34.5 34.5 34.4

41.9 41.7 41.5 41.3 41.5 41.4

12.77 12.82 12.87 12.91 12.95 12.97

13.34 13.39 13.43 13.41 13.45 13.43

441.84 443.57 444.02 445.40 446.78 446.17

558.95 558.36 557.35 553.83 558.18 556.00

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

125 967 126 322 126 543 126 735 127 020 127 364

106 037 106 363 106 558 106 734 106 976 107 285

24 237 24 421 24 420 24 406 24 395 24 454

17 421 17 564 17 558 17 512 17 466 17 449

101 730 101 901 102 123 102 329 102 625 102 910

86 271 86 572 86 735 86 885 87 039 87 307

12 553 12 705 12 713 12 676 12 631 12 622

34.5 34.5 34.4 34.5 34.5 34.5

41.4 41.4 41.3 41.4 41.5 41.5

12.99 13.07 13.10 13.13 13.16 13.19

13.34 13.46 13.53 13.52 13.54 13.56

448.16 450.92 450.64 452.99 454.02 455.06

552.28 557.24 558.79 559.73 561.91 562.74

1999 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

127 477 127 873 127 997 128 379 128 593 128 850

107 393 107 729 107 829 108 142 108 364 108 578

24 400 24 433 24 378 24 423 24 445 24 433

17 426 17 394 17 368 17 342 17 333 17 294

103 077 103 440 103 619 103 956 104 148 104 417

87 355 87 676 87 731 87 963 88 168 88 328

12 604 12 574 12 562 12 539 12 535 12 504

34.4 34.4 34.3 34.4 34.4 34.4

41.3 41.3 41.3 41.3 41.4 41.3

13.25 13.28 13.32 13.37 13.42 13.45

13.59 13.63 13.69 13.75 13.81 13.85

455.80 456.83 456.88 459.93 461.65 462.68

561.27 562.92 565.40 567.88 571.73 572.01

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

129 145 129 338 129 525 129 947 130 242 130 536

108 806 108 963 109 121 109 490 109 746 109 996

24 485 24 468 24 485 24 508 24 562 24 579

17 319 17 288 17 281 17 275 17 283 17 277

104 660 104 870 105 040 105 439 105 680 105 957

88 506 88 632 88 757 89 082 89 316 89 525

12 530 12 502 12 496 12 484 12 488 12 490

34.4 34.4 34.4 34.4 34.4 34.4

41.5 41.5 41.5 41.4 41.4 41.4

13.50 13.54 13.60 13.62 13.64 13.68

13.91 13.95 14.01 14.00 14.00 14.07

464.40 465.78 467.84 468.53 469.22 470.59

577.27 578.93 581.42 579.60 579.60 582.50

483

484

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-4. Nonfarm Payroll Employment, Hours, and Earnings—Continued (Wage and salary workers on nonfarm payrolls, seasonally adjusted.) All wage and salary workers (thousands)

Production or nonsupervisory workers on private payrolls

Private Year and month

Number (thousands)

Average hours per week

Total private

Total private

Average hourly earnings, dollars

Average weekly earnings, dollars

Goods–producing

Total Total

Total

Manufacturing

Service– providing

Manufacturing

Manufacturing

Total private

Manufacturing

Total private

Manufacturing

2000 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

130 781 130 901 131 377 131 662 131 882 131 839

110 210 110 302 110 644 110 860 110 735 110 952

24 629 24 609 24 705 24 689 24 644 24 673

17 285 17 285 17 302 17 299 17 276 17 297

106 152 106 292 106 672 106 973 107 238 107 166

89 697 89 768 90 040 90 259 90 160 90 325

12 494 12 481 12 491 12 477 12 463 12 469

34.4 34.4 34.3 34.4 34.3 34.3

41.5 41.5 41.4 41.5 41.3 41.3

13.73 13.78 13.83 13.89 13.92 13.97

14.12 14.14 14.18 14.23 14.23 14.29

472.31 474.03 474.37 477.82 477.46 479.17

585.98 586.81 587.05 590.55 587.70 590.18

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

132 015 132 004 132 122 132 110 132 326 132 484

111 148 111 167 111 387 111 367 111 566 111 680

24 720 24 683 24 644 24 636 24 625 24 575

17 325 17 287 17 232 17 215 17 204 17 181

107 295 107 321 107 478 107 474 107 701 107 909

90 491 90 487 90 640 90 619 90 751 90 798

12 480 12 428 12 384 12 358 12 337 12 307

34.3 34.2 34.2 34.3 34.2 34.0

41.5 41.1 41.0 41.2 41.1 40.3

14.02 14.05 14.11 14.17 14.22 14.26

14.32 14.37 14.40 14.48 14.51 14.50

480.89 480.51 482.56 486.03 486.32 484.84

594.28 590.61 590.40 596.58 596.36 584.35

2001 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

132 454 132 546 132 511 132 214 132 187 132 029

111 622 111 644 111 565 111 219 111 156 110 916

24 523 24 476 24 409 24 250 24 120 23 964

17 101 17 030 16 936 16 801 16 658 16 511

107 931 108 070 108 102 107 964 108 067 108 065

90 774 90 715 90 662 90 422 90 349 90 132

12 228 12 157 12 087 11 981 11 858 11 734

34.2 34.0 34.1 34.0 34.0 34.0

40.6 40.5 40.4 40.5 40.4 40.4

14.27 14.35 14.40 14.44 14.48 14.52

14.48 14.54 14.58 14.64 14.70 14.74

488.03 487.90 491.04 490.96 492.32 493.68

587.89 588.87 589.03 592.92 593.88 595.50

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

131 941 131 803 131 549 131 172 130 879 130 705

110 763 110 579 110 301 109 896 109 551 109 352

23 840 23 675 23 544 23 372 23 211 23 090

16 386 16 240 16 123 15 972 15 827 15 710

108 101 108 128 108 005 107 800 107 668 107 615

90 060 89 919 89 643 89 312 88 991 88 884

11 641 11 499 11 405 11 287 11 175 11 079

34.0 33.9 33.8 33.7 33.8 33.8

40.6 40.3 40.2 40.1 40.1 40.2

14.54 14.58 14.62 14.64 14.69 14.73

14.81 14.83 14.89 14.89 14.95 15.01

494.36 494.26 494.16 493.37 496.52 497.87

601.29 597.65 598.58 597.09 599.50 603.40

2002 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

130 581 130 478 130 441 130 335 130 326 130 377

109 206 109 077 109 003 108 887 108 790 108 831

22 961 22 889 22 787 22 694 22 602 22 578

15 584 15 514 15 441 15 391 15 336 15 298

107 620 107 589 107 654 107 641 107 724 107 799

88 879 88 804 88 780 88 613 88 444 88 391

10 996 10 949 10 905 10 861 10 824 10 797

33.8 33.8 33.8 33.9 33.9 33.9

40.2 40.2 40.5 40.5 40.5 40.7

14.73 14.77 14.80 14.82 14.86 14.92

15.05 15.11 15.15 15.17 15.23 15.27

497.87 499.23 500.24 502.40 503.75 505.79

605.01 607.42 613.58 614.39 616.82 621.49

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

130 277 130 295 130 250 130 309 130 315 130 161

108 765 108 724 108 693 108 735 108 733 108 559

22 519 22 451 22 401 22 312 22 280 22 181

15 259 15 179 15 128 15 058 14 993 14 911

107 758 107 844 107 849 107 997 108 035 107 980

88 259 88 194 88 159 88 187 88 127 87 950

10 770 10 699 10 672 10 628 10 580 10 520

33.8 33.9 33.9 33.8 33.8 33.8

40.5 40.5 40.5 40.4 40.3 40.5

14.96 15.00 15.05 15.10 15.13 15.19

15.29 15.33 15.38 15.45 15.47 15.53

505.65 508.50 510.20 510.38 511.39 513.42

619.25 620.87 622.89 624.18 623.44 628.97

2003 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

130 247 130 125 129 907 129 853 129 827 129 854

108 614 108 492 108 296 108 258 108 252 108 250

22 133 22 019 21 955 21 870 21 821 21 792

14 854 14 780 14 726 14 615 14 555 14 494

108 114 108 106 107 952 107 983 108 006 108 062

87 971 87 867 87 569 87 532 87 490 87 519

10 478 10 416 10 357 10 258 10 218 10 168

33.8 33.7 33.8 33.6 33.6 33.6

40.3 40.3 40.4 40.1 40.1 40.3

15.19 15.27 15.27 15.25 15.31 15.34

15.58 15.62 15.64 15.63 15.68 15.72

513.42 514.60 516.13 512.40 514.42 515.42

627.87 629.49 631.86 626.76 628.77 633.52

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

129 857 129 859 129 953 130 076 130 172 130 255

108 250 108 279 108 432 108 525 108 617 108 701

21 711 21 697 21 692 21 680 21 693 21 680

14 410 14 373 14 348 14 328 14 315 14 297

108 146 108 162 108 261 108 396 108 479 108 575

87 519 87 548 87 640 87 719 87 774 87 821

10 104 10 075 10 056 10 048 10 041 10 031

33.6 33.6 33.6 33.7 33.8 33.6

40.1 40.2 40.5 40.6 40.8 40.7

15.39 15.40 15.40 15.41 15.45 15.45

15.74 15.78 15.83 15.81 15.88 15.92

517.10 517.44 517.44 519.32 522.21 519.12

631.17 634.36 641.12 641.89 647.90 647.94

2004 January ............................... February ............................. March .................................. April .................................... May ..................................... June ....................................

130 372 130 466 130 786 131 123 131 373 131 479

108 839 108 915 109 204 109 516 109 787 109 908

21 703 21 699 21 773 21 825 21 888 21 890

14 283 14 281 14 291 14 323 14 347 14 344

108 669 108 767 109 013 109 298 109 485 109 589

87 907 87 976 88 216 88 565 88 817 88 978

10 021 10 013 10 028 10 064 10 093 10 095

33.8 33.8 33.7 33.7 33.8 33.6

41.0 41.0 40.9 40.8 41.0 40.7

15.48 15.51 15.54 15.58 15.62 15.64

15.94 15.98 16.01 16.07 16.08 16.12

523.22 524.24 523.70 525.05 527.96 525.50

653.54 655.18 654.81 655.66 659.28 656.08

July ..................................... August ................................ September .......................... October ............................... November ........................... December ...........................

131 562 131 750 131 880 132 162 132 294 132 449

109 976 110 105 110 203 110 462 110 588 110 749

21 902 21 946 21 947 21 982 21 996 22 022

14 341 14 366 14 352 14 344 14 337 14 334

109 660 109 804 109 933 110 180 110 298 110 427

89 087 89 262 89 371 89 648 89 781 89 921

10 102 10 131 10 117 10 111 10 104 10 097

33.7 33.7 33.8 33.8 33.7 33.7

40.8 40.9 40.8 40.7 40.5 40.5

15.70 15.74 15.77 15.81 15.82 15.85

16.16 16.22 16.29 16.27 16.29 16.34

529.09 530.44 533.03 534.38 533.13 534.15

659.33 663.40 664.63 662.19 659.75 661.77

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-5. Money Stock, Reserves, and Monetary Base (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1959 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

138.9 139.4 139.7 139.7 140.7 141.2

286.6 287.7 289.2 290.1 292.2 294.1

288.8 289.9 291.4 292.3 294.4 296.3

11 112 11 129 11 081 11 116 11 058 10 972

10 560 10 624 10 482 10 424 10 317 10 043

10 560 10 624 10 482 10 424 10 317 10 043

10 614 10 675 10 621 10 684 10 637 10 566

40 425 40 605 40 615 40 694 40 731 40 750

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

141.7 141.9 141.0 140.5 140.4 140.0

295.2 296.4 296.7 296.5 297.1 297.8

297.4 298.5 298.8 298.5 299.1 299.7

11 109 11 168 11 128 11 057 11 052 11 109

10 148 10 177 10 202 10 150 10 194 10 168

10 148 10 177 10 202 10 150 10 194 10 168

10 693 10 720 10 686 10 616 10 609 10 603

40 896 40 992 41 034 40 903 40 822 40 880

1960 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

140.0 139.9 139.8 139.6 139.6 139.6

298.2 298.5 299.4 300.1 300.9 302.3

300.1 300.4 301.4 302.2 303.0 304.5

11 081 10 884 10 796 10 767 10 840 10 885

10 194 10 074 10 155 10 161 10 344 10 451

10 194 10 074 10 155 10 161 10 344 10 451

10 567 10 430 10 373 10 341 10 396 10 406

40 794 40 666 40 616 40 621 40 639 40 689

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

140.2 141.3 141.2 140.9 140.9 140.7

304.1 306.9 308.4 309.5 310.9 312.4

306.4 309.3 311.0 312.2 313.6 315.2

10 994 11 078 11 147 11 216 11 299 11 247

10 615 10 782 10 932 11 049 11 166 11 172

10 615 10 782 10 932 11 049 11 166 11 172

10 493 10 536 10 520 10 554 10 556 10 503

40 794 40 895 41 040 41 097 41 130 40 977

1961 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

141.1 141.6 141.9 142.1 142.7 142.9

314.1 316.5 318.3 319.9 322.2 324.3

317.1 319.9 321.9 323.8 326.5 328.9

11 324 11 229 11 108 11 123 11 035 11 087

11 259 11 096 11 038 11 066 10 940 11 024

11 259 11 096 11 038 11 066 10 940 11 024

10 553 10 580 10 563 10 507 10 480 10 497

40 960 40 945 40 851 40 823 40 791 40 902

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

142.9 143.5 143.8 144.1 144.8 145.2

325.6 327.6 329.5 331.1 333.4 335.5

330.5 332.7 334.8 336.5 338.8 340.8

11 124 11 234 11 289 11 413 11 482 11 499

11 070 11 169 11 251 11 342 11 384 11 366

11 070 11 169 11 251 11 342 11 384 11 366

10 508 10 655 10 709 10 881 10 891 10 915

40 980 41 227 41 417 41 651 41 782 41 853

1962 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

145.2 145.7 146.0 146.4 146.8 146.6

337.5 340.1 343.1 345.5 347.5 349.3

343.0 346.1 349.4 352.1 354.2 356.3

11 490 11 301 11 259 11 330 11 384 11 328

11 403 11 233 11 170 11 258 11 323 11 226

11 403 11 233 11 170 11 258 11 323 11 226

10 867 10 799 10 788 10 838 10 867 10 855

41 864 41 810 41 923 42 096 42 194 42 259

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

146.5 146.6 146.3 146.7 147.3 147.8

350.8 352.8 354.9 357.2 359.8 362.7

358.0 360.1 362.5 365.1 368.0 371.3

11 394 11 355 11 383 11 450 11 492 11 604

11 302 11 231 11 303 11 387 11 372 11 344

11 302 11 231 11 303 11 387 11 372 11 344

10 860 10 826 10 893 10 972 10 936 11 033

42 398 42 491 42 537 42 700 42 861 42 957

1963 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

148.3 148.9 149.2 149.7 150.4 150.4

365.2 367.9 370.7 373.3 376.1 378.4

374.2 377.2 380.2 383.1 386.2 388.8

11 567 11 456 11 404 11 449 11 426 11 398

11 421 11 290 11 255 11 319 11 216 11 139

11 421 11 290 11 255 11 319 11 216 11 139

11 062 10 995 10 970 10 992 10 996 10 981

43 008 43 155 43 289 43 444 43 586 43 780

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

151.3 151.8 152.0 152.6 153.7 153.3

381.1 383.6 386.0 388.3 391.5 393.2

391.5 394.5 397.3 400.0 403.8 405.9

11 530 11 484 11 503 11 457 11 547 11 730

11 232 11 155 11 184 11 137 11 198 11 397

11 232 11 155 11 184 11 137 11 198 11 397

11 075 11 039 11 075 11 060 11 106 11 239

44 058 44 149 44 339 44 444 44 744 45 003

1964 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

153.7 154.3 154.5 154.8 155.3 155.6

395.2 397.6 399.8 401.7 404.2 407.1

408.5 411.3 413.6 415.8 418.9 422.1

11 643 11 547 11 563 11 537 11 523 11 595

11 369 11 261 11 285 11 326 11 263 11 326

11 369 11 261 11 285 11 326 11 263 11 326

11 204 11 150 11 177 11 185 11 169 11 220

45 042 45 112 45 371 45 470 45 651 45 959

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

156.8 157.8 158.7 159.2 160.0 160.3

410.1 413.4 416.9 419.1 422.1 424.7

425.5 429.2 433.0 435.9 439.3 442.4

11 651 11 795 11 863 11 888 11 998 12 011

11 387 11 480 11 518 11 567 11 598 11 747

11 387 11 480 11 518 11 567 11 598 11 747

11 275 11 374 11 432 11 490 11 591 11 605

46 143 46 410 46 714 46 823 47 106 47 161

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

485

486

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1965 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

160.7 160.9 161.5 162.0 161.7 162.2

427.5 430.4 433.2 435.4 437.1 440.1

445.8 449.1 452.0 454.5 456.4 459.9

11 952 11 883 11 884 12 043 11 912 12 005

11 653 11 479 11 472 11 571 11 417 11 467

11 653 11 479 11 472 11 571 11 417 11 467

11 537 11 472 11 518 11 701 11 578 11 643

47 281 47 500 47 584 47 721 47 799 48 061

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

163.1 163.7 164.9 166.0 166.7 167.8

442.9 445.8 449.5 452.6 455.7 459.2

463.3 466.8 471.1 474.9 478.3 482.1

12 073 12 079 12 071 12 118 12 087 12 316

11 544 11 531 11 517 11 630 11 655 11 872

11 544 11 531 11 517 11 630 11 655 11 872

11 720 11 682 11 662 11 759 11 735 11 892

48 281 48 453 48 712 49 029 49 234 49 620

1966 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

169.1 169.6 170.5 171.8 171.3 171.6

462.0 464.6 467.2 469.3 470.1 471.2

485.1 487.8 490.8 494.0 495.4 497.1

12 295 12 193 12 164 12 258 12 263 12 256

11 875 11 711 11 604 11 621 11 575 11 549

11 875 11 711 11 604 11 621 11 575 11 549

11 916 11 846 11 822 11 903 11 922 11 901

49 850 50 054 50 171 50 439 50 591 50 754

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

170.3 170.8 172.0 171.2 171.4 172.0

470.9 472.6 475.4 475.7 477.3 480.2

497.8 499.6 502.3 501.4 502.0 505.4

12 371 12 165 12 229 12 199 12 205 12 223

11 629 11 430 11 460 11 465 11 598 11 690

11 629 11 430 11 460 11 465 11 598 11 690

11 993 11 798 11 858 11 867 11 820 11 884

51 019 50 989 51 154 51 200 51 422 51 565

1967 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

171.9 173.0 174.8 174.2 175.7 177.0

481.6 485.1 489.7 492.1 497.2 502.0

509.1 514.5 519.9 522.6 527.7 533.1

12 334 12 280 12 438 12 488 12 418 12 457

11 924 11 916 12 237 12 342 12 329 12 351

11 924 11 916 12 237 12 342 12 329 12 351

11 931 11 911 12 024 12 138 12 053 12 104

51 876 52 173 52 494 52 517 52 682 52 867

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

178.1 179.7 180.7 181.6 182.4 183.3

506.3 510.8 514.7 518.2 521.2 524.8

537.7 542.5 546.8 550.2 553.9 557.9

12 722 12 678 12 846 13 088 13 131 13 180

12 607 12 598 12 758 12 959 12 999 12 952

12 607 12 598 12 758 12 959 12 999 12 952

12 304 12 313 12 504 12 752 12 773 12 805

53 165 53 347 53 670 54 044 54 241 54 579

1968 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

184.3 184.7 185.5 186.6 188.0 189.4

527.4 530.4 533.2 535.7 538.9 542.6

560.4 563.6 567.0 569.2 572.3 575.9

13 239 13 188 13 186 13 117 13 130 13 251

12 993 12 815 12 527 12 432 12 389 12 557

12 993 12 815 12 527 12 432 12 389 12 557

12 852 12 801 12 849 12 782 12 771 12 923

54 892 55 171 55 436 55 692 55 872 56 323

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

190.5 191.8 192.7 194.0 196.0 197.4

545.6 549.4 553.6 557.6 562.4 566.8

580.6 585.6 590.6 595.8 601.7 607.2

13 455 13 440 13 435 13 529 13 649 13 767

12 928 12 875 12 931 13 086 13 104 13 021

12 928 12 875 12 931 13 086 13 104 13 021

13 105 13 110 13 074 13 283 13 340 13 341

56 626 56 976 57 160 57 477 57 887 58 357

1969 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

198.7 199.3 200.0 200.7 200.8 201.3

569.3 571.9 574.4 575.7 576.5 578.5

607.9 609.1 610.8 611.5 611.6 612.1

13 629 13 714 13 653 13 471 13 844 13 795

12 893 12 879 12 751 12 468 12 470 12 410

12 893 12 879 12 751 12 468 12 470 12 410

13 383 13 460 13 434 13 304 13 589 13 491

58 597 58 917 58 999 59 062 59 552 59 794

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

201.7 201.7 202.1 202.9 203.6 203.9

579.5 580.1 582.1 583.4 585.4 587.9

610.1 607.7 608.5 608.9 613.5 615.9

13 491 13 784 13 822 13 904 14 172 14 168

12 239 12 565 12 743 12 754 12 969 13 049

12 239 12 565 12 743 12 754 12 969 13 049

13 266 13 547 13 549 13 741 13 943 13 882

59 713 60 137 60 357 60 633 61 229 61 569

1970 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

206.2 205.0 205.7 206.7 207.2 207.6

589.6 586.3 587.3 588.4 591.5 595.2

616.1 613.3 615.7 619.5 624.3 627.1

14 087 14 099 14 071 14 209 14 007 14 078

13 128 13 019 13 173 13 364 13 040 13 197

13 128 13 019 13 173 13 364 13 040 13 197

13 914 13 891 13 908 14 057 13 850 13 888

61 792 61 931 62 205 62 653 62 977 63 189

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

208.0 209.9 211.8 212.9 213.7 214.4

599.1 604.9 611.2 616.4 621.1 626.5

635.7 644.8 654.4 662.3 669.3 677.1

14 159 14 282 14 447 14 480 14 470 14 558

12 799 13 445 13 847 14 017 14 055 14 225

12 799 13 445 13 847 14 017 14 055 14 225

13 993 14 108 14 203 14 274 14 236 14 309

63 444 63 725 64 087 64 303 64 574 65 013

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1971 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

215.5 217.4 218.8 220.0 222.0 223.5

633.0 641.0 649.9 658.4 666.7 673.0

685.5 695.8 706.5 713.7 723.3 730.1

14 604 14 819 14 798 14 759 14 982 15 057

14 240 14 488 14 479 14 606 14 698 14 564

14 240 14 488 14 479 14 606 14 698 14 564

14 371 14 565 14 603 14 591 14 763 14 855

65 545 66 037 66 378 66 731 67 315 67 678

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

224.9 225.6 226.5 227.2 227.8 228.3

679.6 685.5 692.5 698.4 704.6 710.3

738.3 744.0 751.7 760.2 768.3 776.0

15 125 15 190 15 423 15 211 15 247 15 230

14 302 14 380 14 928 14 854 14 864 15 104

14 302 14 380 14 928 14 854 14 864 15 104

14 941 14 994 15 234 15 049 15 010 15 049

68 155 68 413 68 751 68 603 68 894 69 108

1972 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

230.1 232.3 234.3 235.6 235.9 236.6

717.7 725.7 733.5 738.4 743.4 749.7

783.8 792.9 800.6 807.9 816.1 824.6

15 369 15 363 15 480 15 651 15 739 15 909

15 347 15 331 15 382 15 534 15 628 15 809

15 347 15 331 15 382 15 534 15 628 15 809

15 163 15 211 15 291 15 495 15 600 15 706

69 853 70 368 70 820 71 031 71 525 71 817

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

238.8 240.9 243.2 245.0 246.4 249.2

759.5 768.7 778.3 786.9 793.9 802.3

835.5 846.6 856.4 865.8 875.8 885.9

15 835 16 010 16 000 16 193 16 441 16 645

15 597 15 623 15 459 15 637 15 833 15 595

15 597 15 623 15 459 15 637 15 833 15 595

15 642 15 822 15 788 15 981 16 088 16 361

72 173 72 623 72 984 73 644 74 370 75 167

1973 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

251.5 252.2 251.7 252.7 254.9 256.7

810.3 814.1 815.3 819.7 826.8 833.3

896.3 906.1 915.0 922.4 932.3 940.7

16 708 16 714 16 923 16 731 16 672 16 746

15 548 15 120 15 099 15 020 14 829 14 895

15 548 15 120 15 099 15 020 14 830 14 903

16 450 16 516 16 714 16 508 16 533 16 528

75 925 76 160 76 663 76 962 77 393 77 842

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

257.5 257.7 257.9 259.0 261.0 262.9

836.5 838.8 839.3 842.6 848.9 855.5

950.3 959.0 965.8 972.0 977.3 985.0

16 988 16 796 16 735 16 924 16 978 17 021

15 035 14 631 14 883 15 448 15 585 15 723

15 067 14 657 14 909 15 464 15 585 15 723

16 705 16 624 16 505 16 672 16 753 16 717

78 531 78 781 79 316 80 173 80 479 81 073

1974 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

263.8 265.3 266.7 267.2 267.6 268.5

859.7 864.2 870.1 872.9 874.6 877.8

993.9 1 002.4 1 010.7 1 020.8 1 029.2 1 037.8

17 222 17 125 17 131 17 298 17 423 17 367

16 171 15 933 15 817 15 561 14 833 14 361

16 174 15 933 15 817 15 561 15 491 15 587

17 060 16 941 16 997 17 116 17 263 17 169

81 850 82 341 82 835 83 621 84 432 84 895

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

269.3 270.1 271.0 272.3 273.7 274.2

881.4 884.1 887.9 893.3 898.6 902.1

1 043.9 1 048.6 1 052.9 1 058.5 1 063.7 1 069.9

17 486 17 391 17 385 17 349 17 453 17 550

14 185 14 055 14 102 15 536 16 201 16 823

15 615 15 592 15 731 16 021 16 361 16 970

17 323 17 203 17 204 17 228 17 248 17 292

85 439 85 974 86 377 86 513 87 043 87 535

1975 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

273.9 275.0 276.4 276.2 279.2 282.4

906.3 914.1 925.0 935.1 947.9 963.0

1 075.5 1 082.7 1 090.0 1 095.8 1 106.0 1 118.7

17 273 17 271 17 439 17 498 17 353 17 715

16 874 17 123 17 333 17 387 17 288 17 488

17 010 17 176 17 370 17 398 17 291 17 504

17 126 17 077 17 239 17 340 17 198 17 513

87 756 88 192 88 916 89 116 89 610 90 817

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

283.7 284.1 285.7 285.4 286.8 287.1

975.1 983.1 991.5 997.8 1 006.9 1 016.2

1 128.7 1 135.1 1 145.8 1 153.8 1 163.8 1 170.2

17 632 17 660 17 834 17 587 17 849 17 822

17 331 17 449 17 438 17 397 17 789 17 692

17 351 17 461 17 452 17 408 17 794 17 704

17 445 17 465 17 643 17 380 17 566 17 556

91 373 91 700 92 119 92 448 93 373 93 887

1976 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

288.4 290.8 292.7 294.7 295.9 296.2

1 026.6 1 040.3 1 050.0 1 060.8 1 072.1 1 077.6

1 181.6 1 193.5 1 204.6 1 216.7 1 227.6 1 236.1

17 616 17 806 17 875 17 719 17 940 17 946

17 537 17 725 17 821 17 675 17 826 17 820

17 549 17 734 17 824 17 675 17 826 17 820

17 376 17 587 17 651 17 564 17 731 17 732

94 281 95 039 95 786 96 479 97 251 97 732

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

297.2 299.0 299.6 302.0 303.6 306.2

1 086.3 1 098.7 1 110.8 1 125.0 1 138.2 1 152.0

1 245.9 1 259.2 1 268.2 1 280.8 1 294.5 1 310.0

17 846 18 053 18 009 18 077 18 340 18 388

17 714 17 953 17 948 17 983 18 268 18 335

17 714 17 953 17 948 17 983 18 268 18 335

17 612 17 846 17 808 17 858 18 083 18 115

98 234 98 888 99 446 100 066 100 892 101 515

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

487

488

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1977 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

308.3 311.5 313.9 316.0 317.2 318.8

1 165.2 1 177.6 1 188.5 1 199.6 1 209.0 1 217.8

1 322.5 1 335.5 1 348.4 1 360.6 1 374.0 1 387.6

18 421 18 299 18 405 18 479 18 585 18 471

18 353 18 227 18 301 18 406 18 379 18 208

18 353 18 227 18 301 18 406 18 379 18 208

18 156 18 100 18 190 18 287 18 377 18 324

102 237 102 654 103 337 104 076 104 630 105 186

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

320.2 322.3 324.5 326.4 328.6 330.9

1 226.7 1 237.0 1 246.2 1 254.0 1 262.4 1 270.3

1 400.4 1 415.1 1 428.0 1 441.8 1 457.1 1 470.4

18 748 18 919 18 873 18 963 19 012 18 990

18 425 17 858 18 247 17 658 18 150 18 420

18 425 17 858 18 247 17 658 18 150 18 420

18 473 18 719 18 664 18 753 18 761 18 800

106 394 107 185 107 923 108 750 109 560 110 324

1978 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

334.4 335.3 337.0 339.9 344.9 346.9

1 279.7 1 285.5 1 292.2 1 300.4 1 310.5 1 318.5

1 486.3 1 498.1 1 513.0 1 528.6 1 544.3 1 555.4

19 290 19 561 19 286 19 408 19 655 19 868

18 806 19 155 18 958 18 851 18 443 18 774

18 806 19 155 18 958 18 851 18 443 18 774

19 023 19 319 19 087 19 260 19 436 19 691

111 449 112 450 112 778 113 377 114 418 115 376

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

347.6 349.6 352.2 353.3 355.4 357.3

1 324.1 1 333.5 1 345.0 1 352.3 1 359.1 1 366.0

1 567.0 1 583.1 1 597.1 1 611.1 1 630.2 1 644.6

20 118 19 912 19 994 20 109 19 872 19 753

18 801 18 772 18 934 18 832 19 169 18 885

18 801 18 772 18 934 18 832 19 169 18 885

19 921 19 744 19 801 19 947 19 650 19 521

116 273 116 904 118 112 119 044 119 733 120 445

1979 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

358.6 359.9 362.5 368.0 369.6 373.4

1 371.6 1 377.8 1 387.8 1 402.1 1 410.2 1 423.0

1 656.8 1 669.2 1 683.2 1 700.9 1 711.1 1 728.1

19 821 19 396 19 429 19 504 19 553 19 808

18 818 18 423 18 439 18 587 17 788 18 390

18 818 18 423 18 439 18 587 17 788 18 390

19 606 19 187 19 271 19 328 19 412 19 587

121 272 121 504 122 065 122 819 123 487 124 635

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

377.2 378.8 379.3 380.8 380.8 381.8

1 434.8 1 446.6 1 454.1 1 460.4 1 465.9 1 473.7

1 743.3 1 761.5 1 782.9 1 796.7 1 798.9 1 808.7

19 992 20 008 20 007 20 375 20 398 20 720

18 822 18 923 18 667 18 353 18 492 19 248

18 822 18 923 18 667 18 353 18 492 19 248

19 782 19 786 19 816 20 103 20 153 20 279

125 810 127 079 128 309 129 458 130 369 131 143

1980 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

385.8 390.1 388.5 383.8 384.8 389.1

1 482.7 1 494.6 1 499.8 1 502.2 1 512.3 1 529.2

1 823.1 1 841.8 1 850.2 1 854.2 1 867.0 1 884.4

20 693 20 682 20 703 20 629 20 440 20 575

19 452 19 027 17 879 18 174 19 421 20 196

19 452 19 027 17 978 18 726 20 164 20 503

20 442 20 471 20 517 20 432 20 262 20 372

131 998 132 785 133 607 134 740 134 998 135 679

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

394.0 399.2 404.8 409.0 410.7 408.5

1 545.5 1 561.5 1 574.0 1 584.8 1 595.7 1 599.8

1 903.2 1 920.8 1 935.1 1 953.6 1 975.3 1 995.5

20 796 21 011 21 232 21 147 22 150 22 015

20 401 20 352 19 921 19 837 20 091 20 325

20 654 20 594 20 011 19 837 20 091 20 328

20 511 20 709 20 977 20 941 21 629 21 501

136 637 137 977 139 220 140 150 141 566 142 004

1981 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

411.3 414.8 419.0 427.4 424.7 425.2

1 606.9 1 618.7 1 636.6 1 659.3 1 664.2 1 670.3

2 020.6 2 039.5 2 058.1 2 086.4 2 102.8 2 118.4

21 673 21 840 22 072 22 187 22 442 22 326

20 278 20 536 21 072 20 849 20 219 20 289

20 348 20 557 21 086 20 857 20 224 20 295

21 298 21 489 21 791 22 018 22 184 21 988

141 462 142 270 143 029 143 917 144 587 145 001

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

427.0 426.9 426.9 428.4 431.2 436.7

1 681.9 1 694.3 1 706.0 1 721.8 1 736.1 1 755.4

2 137.8 2 157.1 2 179.3 2 204.6 2 226.7 2 254.6

22 329 22 356 22 487 22 296 22 338 22 443

20 650 20 936 21 031 21 115 21 675 21 807

20 653 21 017 21 332 21 553 21 840 21 956

21 989 22 064 22 073 22 018 21 993 22 124

145 839 146 467 146 941 147 062 147 749 149 021

1982 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

442.7 441.9 442.8 447.2 446.7 447.5

1 770.4 1 774.5 1 786.5 1 804.0 1 815.4 1 826.0

2 275.8 2 284.4 2 303.0 2 328.5 2 343.2 2 359.7

22 669 22 551 22 452 22 337 22 402 22 368

21 152 20 762 20 898 20 769 21 285 21 164

21 349 20 994 21 206 21 014 21 461 21 268

22 251 22 248 22 091 22 064 22 043 22 060

149 991 150 459 150 660 151 606 152 868 153 861

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

448.0 451.4 456.9 464.5 471.5 474.8

1 834.3 1 849.4 1 863.3 1 874.7 1 888.4 1 910.3

2 372.2 2 396.6 2 413.0 2 434.9 2 447.4 2 460.7

22 182 22 348 22 686 22 889 23 354 23 600

21 490 21 833 21 752 22 412 22 733 22 966

21 541 21 926 21 871 22 553 22 921 23 152

21 868 22 036 22 302 22 485 22 952 23 100

154 385 155 470 156 629 157 716 158 667 160 127

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1983 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

477.2 484.3 490.6 493.2 500.0 504.0

1 963.3 2 000.5 2 018.6 2 031.9 2 046.4 2 056.7

2 488.9 2 517.8 2 534.1 2 553.9 2 569.5 2 585.0

23 226 23 901 24 414 24 900 24 860 25 277

22 697 23 319 23 621 23 890 23 907 23 641

22 854 23 597 23 939 24 295 24 420 24 599

22 678 23 466 23 981 24 424 24 411 24 797

161 136 163 170 165 052 166 549 167 842 169 393

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

507.8 510.5 512.8 517.2 518.9 521.4

2 067.8 2 076.9 2 086.1 2 102.2 2 115.3 2 126.5

2 596.0 2 609.8 2 626.2 2 646.1 2 673.8 2 697.6

25 356 25 376 25 435 25 454 25 396 25 367

23 903 23 830 23 994 24 610 24 491 24 593

24 480 24 320 24 509 24 866 24 497 24 595

24 848 24 929 24 937 24 949 24 867 24 806

170 129 171 208 172 411 173 584 174 605 175 467

1984 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

525.1 527.5 531.4 535.0 536.7 540.2

2 141.2 2 161.4 2 178.4 2 194.9 2 207.5 2 218.5

2 714.9 2 742.5 2 772.0 2 801.2 2 828.4 2 850.2

25 451 25 829 25 763 25 691 25 882 26 094

24 736 25 262 24 811 24 457 22 894 22 793

24 740 25 266 24 838 24 501 22 931 24 666

24 838 24 923 25 095 25 218 25 313 25 334

176 896 177 833 178 871 179 897 180 729 181 992

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

540.9 541.0 543.1 543.7 547.6 551.6

2 226.9 2 233.6 2 247.5 2 262.1 2 284.8 2 310.0

2 871.8 2 886.0 2 904.6 2 930.1 2 957.8 2 990.9

25 980 26 039 26 089 26 259 26 518 26 913

20 056 18 023 18 847 20 242 21 901 23 727

25 064 25 066 25 306 25 299 25 738 26 331

25 351 25 359 25 440 25 641 25 820 26 078

182 995 183 760 184 642 185 222 186 121 187 242

1985 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

556.9 563.5 566.4 570.3 575.2 582.2

2 335.9 2 357.4 2 369.4 2 378.8 2 393.3 2 416.2

3 017.8 3 040.6 3 056.5 3 062.5 3 078.8 3 103.6

27 077 27 596 27 590 27 870 28 155 28 848

25 682 26 307 25 997 26 548 26 821 27 644

26 732 27 110 27 056 27 416 27 355 28 309

26 334 26 746 26 916 27 134 27 402 27 926

188 083 189 638 190 309 191 362 192 697 194 748

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

589.1 596.3 603.5 607.9 612.2 619.8

2 433.0 2 447.6 2 460.1 2 471.7 2 481.2 2 495.7

3 112.7 3 131.4 3 149.8 3 167.1 3 182.3 3 208.4

29 141 29 652 30 030 30 490 30 916 31 569

28 034 28 580 28 741 29 303 29 175 30 250

28 541 29 149 29 397 29 932 29 706 30 749

28 301 28 818 29 333 29 746 29 998 30 505

195 947 198 013 199 304 200 745 202 121 203 561

1986 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

621.4 625.1 633.4 640.8 652.1 660.7

2 505.6 2 516.1 2 536.1 2 560.9 2 588.5 2 608.7

3 232.6 3 250.6 3 277.2 3 307.5 3 331.1 3 353.0

31 563 31 658 32 090 32 517 33 265 33 947

30 793 30 775 31 330 31 625 32 389 33 144

31 290 31 267 31 848 32 259 32 974 33 674

30 481 30 645 31 207 31 745 32 387 33 028

204 225 205 314 206 921 208 120 210 153 211 795

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

670.3 678.7 687.5 695.0 705.5 724.6

2 630.5 2 650.4 2 672.0 2 691.9 2 705.6 2 732.3

3 382.0 3 407.8 3 435.4 3 455.6 3 467.1 3 499.4

34 657 35 191 35 621 36 262 37 270 38 840

33 916 34 319 34 613 35 420 36 519 38 014

34 294 34 784 35 183 35 917 36 937 38 317

33 784 34 451 34 932 35 545 36 369 37 667

213 411 215 262 216 770 218 641 220 708 223 419

1987 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

730.1 730.6 733.7 744.0 745.8 743.2

2 748.0 2 751.7 2 757.7 2 772.0 2 777.2 2 778.8

3 524.6 3 534.2 3 542.6 3 562.7 3 578.1 3 593.3

39 244 39 006 38 827 39 533 39 812 39 462

38 664 38 450 38 300 38 540 38 776 38 685

38 889 38 733 38 564 38 811 39 064 38 958

38 173 37 813 37 907 38 677 38 744 38 228

225 344 226 563 227 091 228 966 230 507 231 311

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

743.1 745.0 747.5 756.2 753.4 750.2

2 783.4 2 792.4 2 803.6 2 819.3 2 824.2 2 831.4

3 599.5 3 620.2 3 642.5 3 667.8 3 681.6 3 686.7

39 080 39 208 39 118 39 826 39 334 38 913

38 408 38 561 38 178 38 883 38 709 38 135

38 602 38 693 38 586 39 333 39 103 38 618

38 221 38 157 38 333 38 737 38 394 37 893

231 979 233 517 234 704 237 109 238 822 239 838

1988 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

756.1 757.8 761.7 768.0 771.8 778.4

2 852.3 2 875.4 2 895.7 2 915.6 2 931.2 2 943.4

3 708.9 3 737.2 3 762.1 3 788.3 3 814.6 3 834.2

39 464 39 406 39 266 39 622 39 958 40 277

38 383 39 010 37 514 36 628 37 380 37 195

38 754 39 215 38 993 39 252 39 487 39 748

38 213 38 268 38 321 38 737 38 911 39 382

241 811 242 805 243 751 245 755 247 440 249 158

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

781.3 783.3 783.8 783.3 784.8 786.7

2 953.1 2 958.3 2 963.2 2 971.6 2 986.4 2 994.4

3 850.6 3 864.5 3 876.3 3 890.1 3 908.9 3 929.0

40 514 40 470 40 343 40 422 40 548 40 453

37 075 37 229 37 503 38 123 37 687 38 738

39 613 39 882 39 562 39 904 40 009 39 982

39 623 39 500 39 326 39 370 39 374 39 392

250 986 252 069 253 375 254 576 255 689 256 897

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

489

490

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1989 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

785.8 783.8 783.0 779.1 775.0 773.6

2 997.7 2 998.0 3 005.7 3 011.8 3 017.5 3 033.7

3 937.0 3 940.6 3 961.5 3 970.6 3 974.9 3 995.2

40 422 40 339 39 844 39 533 39 301 39 085

38 773 38 852 38 032 37 244 37 580 37 595

39 811 39 901 39 366 38 950 38 778 38 512

39 278 39 184 38 926 38 719 38 258 38 177

257 922 258 306 259 135 259 548 260 260 261 107

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

777.8 779.4 780.9 786.6 788.1 792.8

3 058.4 3 080.5 3 098.7 3 120.8 3 139.5 3 158.4

4 017.9 4 027.5 4 035.1 4 047.5 4 063.2 4 077.0

39 438 39 397 39 673 40 163 40 170 40 486

38 744 38 722 38 980 39 607 39 820 40 221

38 850 38 764 39 002 39 629 39 841 40 241

38 455 38 505 38 728 39 123 39 221 39 545

262 233 262 858 263 742 264 894 265 678 267 743

1990 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

795.3 798.0 801.6 806.4 804.3 808.7

3 172.7 3 185.5 3 196.5 3 208.5 3 206.7 3 219.0

4 089.0 4 095.4 4 098.1 4 105.8 4 107.9 4 114.9

40 731 40 743 40 650 40 845 40 750 40 666

40 291 39 295 38 526 39 236 39 419 39 785

40 317 39 830 40 477 40 621 40 291 40 131

39 688 39 743 39 769 39 974 39 796 39 879

269 563 271 140 273 050 275 230 276 760 278 943

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

810.1 815.7 820.0 819.7 822.2 824.7

3 230.1 3 247.9 3 260.4 3 265.0 3 269.9 3 278.7

4 128.3 4 144.3 4 151.7 4 155.9 4 152.1 4 154.6

40 575 40 873 41 090 40 808 40 970 41 766

39 818 39 946 40 466 40 398 40 740 41 440

40 098 40 074 40 472 40 416 40 765 41 463

39 707 39 997 40 177 39 968 40 043 40 101

281 004 284 090 287 273 289 191 291 156 293 293

1991 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

827.2 832.7 838.6 843.2 848.9 856.7

3 294.7 3 311.5 3 328.5 3 340.0 3 350.7 3 359.5

4 177.4 4 193.4 4 200.7 4 208.6 4 208.6 4 209.5

42 295 42 072 41 807 41 859 42 410 42 709

41 761 41 820 41 566 41 628 42 107 42 369

41 787 41 854 41 619 41 714 42 194 42 377

40 153 40 267 40 623 40 833 41 376 41 716

297 784 300 914 302 709 303 025 304 187 305 490

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

861.4 866.7 870.4 878.1 887.4 897.0

3 363.0 3 361.9 3 362.2 3 367.3 3 371.8 3 379.3

4 203.0 4 197.4 4 191.5 4 195.8 4 201.1 4 209.9

42 983 43 395 43 555 44 005 44 613 45 515

42 376 42 631 42 910 43 744 44 505 45 323

42 422 42 931 43 212 43 756 44 507 45 324

42 080 42 308 42 625 42 950 43 722 44 526

307 219 309 323 310 693 312 706 314 944 317 554

1992 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

910.5 925.2 936.7 944.1 950.2 954.3

3 388.3 3 406.6 3 410.9 3 407.4 3 404.3 3 401.0

4 215.9 4 235.4 4 237.5 4 226.3 4 220.2 4 219.2

46 372 47 610 48 274 49 035 49 336 49 270

46 139 47 532 48 182 48 945 49 181 49 040

46 139 47 534 48 184 48 947 49 181 49 040

45 381 46 557 47 249 47 908 48 333 48 346

319 643 322 586 324 357 326 698 328 737 330 195

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

963.3 973.7 987.8 1 003.8 1 015.9 1 025.1

3 402.0 3 406.1 3 417.0 3 431.5 3 434.4 3 432.9

4 219.8 4 227.5 4 235.7 4 235.4 4 231.1 4 222.5

49 755 50 478 51 392 52 765 53 749 54 421

49 471 50 228 51 105 52 622 53 645 54 297

49 471 50 228 51 105 52 622 53 645 54 298

48 780 49 540 50 380 51 704 52 707 53 267

333 217 336 938 340 757 344 581 347 662 350 919

1993 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 030.2 1 033.6 1 038.4 1 048.0 1 065.8 1 074.8

3 426.7 3 422.9 3 419.9 3 420.6 3 444.5 3 450.2

4 204.0 4 206.6 4 210.0 4 212.4 4 242.2 4 242.6

54 971 54 686 54 969 55 359 56 651 57 082

54 805 54 640 54 878 55 286 56 530 56 901

54 806 54 641 54 878 55 287 56 530 56 901

53 708 53 593 53 737 54 255 55 656 56 191

353 692 355 398 357 838 360 883 364 919 367 890

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 084.4 1 094.2 1 104.4 1 112.7 1 124.1 1 129.9

3 450.9 3 455.0 3 462.2 3 465.3 3 479.5 3 484.4

4 239.8 4 240.6 4 250.5 4 256.4 4 275.3 4 285.6

57 729 58 183 58 867 59 595 60 301 60 567

57 485 57 830 58 440 59 309 60 212 60 485

57 485 57 830 58 440 59 309 60 212 60 485

56 662 57 231 57 784 58 517 59 184 59 497

371 435 374 601 378 298 381 547 384 071 386 591

1994 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 131.6 1 136.3 1 140.4 1 141.0 1 143.2 1 145.2

3 485.2 3 486.0 3 492.4 3 496.5 3 505.4 3 493.5

4 282.3 4 267.4 4 279.1 4 289.5 4 300.8 4 298.8

60 893 60 513 60 296 60 500 59 968 60 045

60 820 60 442 60 241 60 376 59 768 59 712

60 820 60 442 60 241 60 376 59 768 59 712

59 436 59 367 59 315 59 361 59 103 58 931

390 219 393 265 396 043 398 868 401 446 404 440

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 149.7 1 150.0 1 151.7 1 149.8 1 150.2 1 150.7

3 498.3 3 496.0 3 497.3 3 495.5 3 498.0 3 497.8

4 318.8 4 320.1 4 329.6 4 340.0 4 355.3 4 369.9

60 315 59 952 59 796 59 368 59 403 59 454

59 857 59 484 59 309 58 987 59 154 59 245

59 858 59 484 59 309 58 987 59 154 59 245

59 205 58 949 58 751 58 576 58 415 58 295

407 760 409 620 411 793 413 999 416 741 418 336

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

1995 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 151.1 1 147.0 1 146.5 1 149.1 1 144.7 1 143.9

3 503.1 3 500.2 3 501.6 3 509.5 3 533.1 3 559.7

4 393.4 4 394.4 4 415.5 4 436.0 4 476.1 4 515.8

59 410 58 644 58 201 57 969 57 642 57 376

59 274 58 585 58 132 57 858 57 492 57 104

59 278 58 585 58 132 57 858 57 492 57 104

58 071 57 683 57 386 57 216 56 768 56 393

421 020 421 642 424 681 427 887 430 557 430 204

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 144.9 1 145.1 1 140.9 1 136.4 1 133.2 1 126.9

3 578.3 3 600.4 3 611.3 3 623.4 3 631.7 3 640.3

4 541.2 4 576.5 4 595.8 4 613.7 4 625.2 4 636.0

57 815 57 536 57 307 56 725 56 314 56 483

57 444 57 254 57 030 56 480 56 109 56 226

57 444 57 254 57 030 56 480 56 109 56 226

56 711 56 532 56 338 55 640 55 360 55 193

430 703 431 320 431 878 432 633 432 955 434 571

1996 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 122.8 1 118.3 1 122.1 1 124.8 1 116.3 1 114.6

3 658.1 3 672.8 3 697.5 3 708.7 3 719.3 3 732.6

4 670.1 4 698.4 4 734.5 4 752.4 4 788.7 4 811.9

55 881 54 617 55 292 55 175 54 036 54 139

55 843 54 583 55 271 55 085 53 908 53 753

55 843 54 583 55 271 55 085 53 908 53 753

54 417 53 761 54 153 54 052 53 130 53 031

434 803 432 637 435 872 436 983 437 492 440 066

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 111.6 1 100.9 1 094.8 1 085.1 1 081.9 1 079.8

3 747.9 3 756.5 3 766.3 3 780.1 3 794.3 3 814.8

4 838.1 4 858.2 4 884.9 4 926.1 4 946.0 4 985.4

53 374 52 159 51 309 50 037 49 776 50 183

53 006 51 825 50 942 49 750 49 562 50 028

53 006 51 825 50 942 49 750 49 562 50 028

52 356 51 201 50 262 49 030 48 724 48 766

442 556 444 686 446 014 446 842 448 756 452 082

1997 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 080.0 1 077.5 1 071.0 1 062.6 1 062.9 1 065.1

3 828.8 3 839.5 3 854.6 3 870.9 3 884.0 3 902.1

5 013.3 5 041.7 5 080.3 5 119.9 5 147.2 5 177.5

49 680 48 712 47 847 47 348 46 637 46 907

49 635 48 670 47 690 47 087 46 394 46 540

49 635 48 670 47 690 47 087 46 394 46 540

48 456 47 681 46 681 46 339 45 374 45 593

453 526 454 557 456 293 457 921 459 536 462 163

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 065.3 1 073.8 1 066.7 1 065.1 1 069.1 1 072.2

3 921.9 3 951.0 3 970.5 3 988.4 4 009.6 4 030.8

5 235.9 5 291.5 5 332.4 5 376.4 5 417.2 5 460.7

46 735 46 908 46 251 45 958 46 411 46 873

46 325 46 310 45 813 45 689 46 258 46 549

46 325 46 310 45 813 45 689 46 258 46 549

45 518 45 653 44 950 44 544 44 742 45 189

464 684 466 934 469 165 471 770 475 890 479 941

1998 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 073.5 1 077.7 1 076.9 1 076.2 1 077.6 1 076.0

4 055.1 4 087.6 4 114.7 4 137.9 4 158.6 4 184.9

5 509.0 5 541.4 5 611.6 5 647.3 5 686.9 5 728.4

46 687 45 740 45 854 46 127 45 514 45 413

46 477 45 682 45 813 46 055 45 361 45 162

46 477 45 682 45 813 46 055 45 361 45 162

44 894 44 208 44 503 44 739 44 241 43 798

482 099 483 281 485 035 486 976 488 851 491 857

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 074.4 1 074.3 1 078.4 1 084.3 1 093.0 1 094.8

4 203.1 4 228.5 4 270.4 4 311.9 4 351.1 4 383.4

5 750.0 5 815.0 5 882.0 5 953.7 6 010.2 6 052.0

44 899 45 214 44 942 45 104 45 181 45 515

44 641 44 943 44 692 44 930 45 097 45 398

44 641 44 943 44 692 44 930 45 097 45 398

43 529 43 683 43 248 43 532 43 561 44 001

494 626 498 005 502 462 506 824 510 501 514 094

1999 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 096.3 1 096.7 1 097.3 1 101.1 1 102.2 1 098.7

4 405.2 4 432.2 4 442.4 4 473.0 4 492.2 4 513.4

6 080.8 6 129.5 6 133.5 6 172.2 6 200.8 6 237.4

44 788 44 348 43 832 43 496 43 922 43 203

44 582 44 233 43 767 43 330 43 795 43 058

44 582 44 233 43 767 43 330 43 795 43 058

43 302 43 153 42 563 42 336 42 700 41 908

516 714 520 665 524 648 528 441 533 325 537 004

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 097.9 1 097.9 1 095.6 1 101.2 1 110.3 1 122.6

4 537.8 4 558.7 4 574.5 4 593.0 4 619.0 4 648.5

6 268.6 6 298.7 6 322.7 6 378.1 6 463.9 6 551.7

42 116 42 132 41 995 41 651 41 997 42 099

41 807 41 788 41 657 41 370 41 762 41 778

41 807 41 788 41 657 41 370 41 762 41 778

40 992 40 973 40 785 40 500 40 668 40 802

540 458 544 535 549 870 557 283 571 273 593 652

2000 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 121.6 1 109.6 1 109.2 1 113.8 1 106.0 1 103.7

4 675.8 4 691.7 4 722.4 4 770.6 4 764.1 4 781.7

6 605.8 6 637.7 6 705.9 6 766.1 6 776.9 6 823.9

42 354 40 979 40 216 40 343 40 573 40 219

41 980 40 871 40 037 40 039 40 211 39 739

41 980 40 871 40 037 40 039 40 211 39 739

40 334 39 866 39 007 39 185 39 601 39 102

591 131 573 062 571 537 572 225 573 608 575 833

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 103.5 1 100.1 1 098.2 1 097.4 1 091.6 1 087.0

4 793.4 4 828.2 4 860.1 4 878.8 4 889.1 4 930.7

6 874.4 6 944.4 7 002.7 7 027.0 7 037.7 7 117.7

40 074 39 660 39 598 39 434 39 670 38 792

39 504 39 081 39 120 39 015 39 387 38 582

39 504 39 081 39 120 39 015 39 387 38 582

38 930 38 641 38 479 38 284 38 362 37 364

577 004 577 462 577 985 580 123 582 047 584 808

1Extended

credit program discontinued January 9, 2003. See notes and definitions.

491

492

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-5. Money Stock, Reserves, and Monetary Base—Continued (Averages of daily figures, seasonally adjusted.) Money stock measures, billions of dollars

Reserves, adjusted for change in reserve requirements, millions of dollars

Year and month M1

M2

M3

Total

Nonborrowed

Nonborrowed plus extended credit 1

Required

Monetary base

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 096.5 1 102.4 1 111.1 1 115.5 1 120.1 1 127.3

4 987.8 5 028.5 5 089.5 5 149.1 5 150.9 5 188.6

7 237.4 7 306.2 7 373.0 7 506.1 7 564.2 7 643.7

37 949 38 372 38 142 38 313 38 541 39 031

37 876 38 321 38 084 38 263 38 328 38 802

37 876 38 321 38 084 38 263 38 328 38 802

36 564 36 865 36 743 37 037 37 521 37 669

588 313 590 184 592 473 595 744 598 909 602 218

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 139.6 1 149.9 1 203.1 1 164.7 1 170.3 1 182.0

5 218.8 5 253.0 5 362.0 5 357.5 5 402.0 5 451.1

7 688.2 7 691.9 7 849.9 7 893.5 7 969.7 8 037.2

39 502 39 869 58 005 45 526 41 169 41 496

39 219 39 686 54 620 45 399 41 085 41 429

39 219 39 686 54 620 45 399 41 085 41 429

38 094 38 661 38 988 44 201 39 728 39 846

607 849 615 204 639 237 629 935 629 639 635 414

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 188.7 1 191.9 1 194.8 1 185.9 1 190.9 1 193.8

5 481.5 5 510.5 5 519.7 5 521.1 5 547.3 5 567.8

8 067.4 8 113.2 8 122.8 8 144.2 8 177.2 8 191.2

41 678 41 490 40 720 40 527 39 472 39 259

41 628 41 460 40 641 40 457 39 360 39 117

41 628 41 460 40 641 40 457 39 360 39 117

40 283 40 120 39 300 39 316 38 212 38 021

641 408 646 202 649 885 654 068 657 991 663 248

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 199.4 1 186.6 1 193.9 1 202.6 1 208.5 1 219.2

5 611.1 5 649.8 5 674.8 5 726.2 5 772.4 5 802.9

8 240.8 8 296.8 8 334.3 8 373.2 8 500.2 8 575.6

39 339 39 770 38 954 39 163 40 004 40 441

39 147 39 436 38 725 39 020 39 733 40 361

39 147 39 436 38 725 39 020 39 733 40 361

37 961 38 162 37 468 37 628 38 366 38 432

668 298 670 040 671 055 673 492 676 581 681 303

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 224.3 1 239.6 1 242.6 1 250.1 1 271.7 1 282.7

5 836.6 5 873.3 5 889.9 5 926.0 5 980.6 6 022.4

8 594.0 8 631.4 8 649.1 8 680.2 8 737.1 8 790.5

40 753 40 980 40 900 40 615 40 935 42 305

40 726 40 955 40 878 40 586 40 879 42 144

... ... ... ... ... ...

39 045 39 014 39 266 39 073 39 314 40 443

685 398 690 799 695 044 698 481 701 668 704 027

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 286.3 1 295.4 1 295.5 1 296.4 1 297.8 1 305.1

6 067.0 6 112.5 6 094.1 6 086.2 6 081.6 6 085.2

8 882.7 8 913.5 8 909.2 8 904.1 8 885.0 8 885.3

43 192 45 676 44 203 43 437 43 136 42 770

43 062 45 347 44 023 43 329 43 068 42 724

... ... ... ... ... ...

41 257 41 908 42 692 41 962 41 645 41 729

705 111 709 319 710 534 714 340 717 147 719 853

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

1 303.4 1 321.8 1 334.5 1 334.3 1 338.6 1 345.0

6 098.7 6 139.0 6 178.0 6 215.2 6 273.2 6 284.1

8 942.5 9 006.6 9 081.9 9 144.3 9 233.2 9 270.8

43 004 42 913 44 661 45 788 45 641 46 284

42 898 42 871 44 610 45 702 45 529 46 104

... ... ... ... ... ...

42 112 41 718 42 855 43 980 43 956 44 351

722 258 724 539 727 240 730 970 734 440 739 325

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

1 337.4 1 355.0 1 359.1 1 360.2 1 375.8 1 373.5

6 285.7 6 306.5 6 341.2 6 369.3 6 406.5 6 430.7

9 273.2 9 308.5 9 358.8 9 369.9 9 401.4 9 450.5

46 399 45 480 46 488 46 344 46 368 46 798

46 154 45 229 46 153 46 165 46 185 46 735

... ... ... ... ... ...

44 681 43 898 44 833 44 587 44 585 44 889

745 786 747 476 751 494 754 085 758 452 758 601

1Extended

credit program discontinued January 9, 2003. See notes and definitions. . . . = Not available.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

493

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1945 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

... ... ... ... ... ...

0.38 0.38 0.38 0.38 0.38 0.38

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.69 2.65 2.62 2.61 2.62 2.61

3.46 3.41 3.38 3.36 3.32 3.29

... ... ... ... ... ...

... ... ... ... ... ...

153.95 157.24 157.31 160.34 165.52 167.37

13.49 13.94 13.93 14.28 14.82 15.09

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

... ... ... ... ... ...

0.38 0.38 0.38 0.38 0.38 0.38

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.60 2.61 2.62 2.62 2.62 2.61

3.26 3.26 3.24 3.20 3.15 3.10

... ... ... ... ... ...

... ... ... ... ... ...

163.92 166.17 177.85 185.06 190.34 192.68

14.78 14.83 15.84 16.50 17.04 17.33

... ... ... ... ... ...

1946 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

... ... ... ... ... ...

0.38 0.38 0.38 0.38 0.38 0.38

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.54 2.48 2.47 2.46 2.51 2.49

3.01 2.95 2.94 2.96 3.02 3.03

... ... ... ... ... ...

... ... ... ... ... ...

199.23 198.56 194.23 205.71 206.80 207.33

18.02 18.07 17.53 18.66 18.70 18.58

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

... ... ... ... ... ...

0.38 0.38 0.38 0.38 0.38 0.38

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.48 2.51 2.58 2.60 2.59 2.61

3.03 3.03 3.10 3.15 3.17 3.17

... ... ... ... ... ...

... ... ... ... ... ...

202.28 199.45 172.74 169.47 168.74 174.29

18.05 17.70 15.09 14.75 14.69 15.13

... ... ... ... ... ...

1947 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

... ... ... ... ... ...

0.38 0.38 0.38 0.38 0.38 0.38

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.57 2.55 2.55 2.53 2.53 2.55

3.13 3.12 3.15 3.16 3.17 3.21

... ... ... ... ... ...

... ... ... ... ... ...

176.15 181.43 176.69 171.23 168.63 173.76

15.21 15.80 15.16 14.60 14.34 14.84

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

... ... ... ... ... ...

0.66 0.75 0.80 0.85 0.92 0.95

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.55 2.56 2.61 2.70 2.77 2.86

3.18 3.17 3.23 3.35 3.44 3.52

... ... ... ... ... ...

... ... ... ... ... ...

183.53 180.08 176.81 181.95 181.52 179.24

15.77 15.46 15.06 15.45 15.27 15.03

... ... ... ... ... ...

1948 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

... ... ... ... ... ...

0.97 1.00 1.00 1.00 1.00 1.00

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.86 2.85 2.83 2.78 2.76 2.76

3.52 3.53 3.53 3.47 3.38 3.34

... ... ... ... ... ...

... ... ... ... ... ...

176.30 168.64 169.77 180.05 186.51 191.06

14.83 14.10 14.30 15.40 16.15 16.82

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

... ... ... ... ... ...

1.00 1.06 1.09 1.12 1.14 1.16

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

... ... ... ... ... ...

2.81 2.84 2.84 2.84 2.84 2.79

3.37 3.44 3.45 3.50 3.53 3.53

... ... ... ... ... ...

... ... ... ... ... ...

187.07 181.77 180.34 185.16 176.76 176.30

16.42 15.94 15.76 16.19 15.29 15.19

... ... ... ... ... ...

1949 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

... ... ... ... ... ...

1.17 1.17 1.17 1.17 1.17 1.17

... ... ... ... ... ...

2.00 2.00 2.00 2.00 2.00 2.00

... ... ... ... ... ...

... ... ... ... ... ...

2.71 2.71 2.70 2.70 2.71 2.71

3.46 3.45 3.47 3.45 3.45 3.47

... ... ... ... ... ...

... ... ... ... ... ...

179.63 174.54 175.87 175.63 173.93 165.60

15.36 14.77 14.91 14.89 14.78 13.97

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

... ... ... ... ... ...

1.02 1.04 1.07 1.05 1.08 1.10

... ... ... ... ... ...

2.00 2.00 2.00 2.00 2.00 2.00

... ... ... ... ... ...

... ... ... ... ... ...

2.67 2.62 2.60 2.61 2.60 2.58

3.46 3.40 3.37 3.36 3.35 3.31

... ... ... ... ... ...

... ... ... ... ... ...

173.34 179.25 180.92 186.57 191.49 196.78

14.76 15.29 15.49 15.89 16.11 16.54

... ... ... ... ... ...

1950 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

1.50 1.50 1.50 1.50 1.50 1.50

1.07 1.12 1.12 1.15 1.16 1.15

... ... ... ... ... ...

2.00 2.00 2.00 2.00 2.00 2.00

... ... ... ... ... ...

... ... ... ... ... ...

2.57 2.58 2.58 2.60 2.61 2.62

3.24 3.24 3.24 3.23 3.25 3.28

... ... ... ... ... ...

... ... ... ... ... ...

199.75 203.31 206.25 212.76 219.30 221.02

16.88 17.21 17.35 17.84 18.44 18.74

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

1.50 1.59 1.75 1.75 1.75 1.75

1.16 1.20 1.30 1.31 1.36 1.34

... ... ... ... ... ...

2.00 2.00 2.08 2.25 2.25 2.25

... ... ... ... ... ...

... ... ... ... ... ...

2.65 2.61 2.64 2.67 2.67 2.67

3.32 3.23 3.21 3.22 3.22 3.20

... ... ... ... ... ...

... ... ... ... ... ...

205.31 216.61 223.20 229.24 229.08 229.18

17.38 18.43 19.08 19.87 19.83 19.75

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

494

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1951 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

1.75 1.75 1.75 1.75 1.75 1.75

1.34 1.36 1.40 1.47 1.55 1.45

... ... ... ... ... ...

2.44 2.50 2.50 2.50 2.50 2.50

... ... ... ... ... ...

... ... ... ... ... ...

2.66 2.66 2.78 2.87 2.89 2.94

3.17 3.16 3.23 3.35 3.40 3.49

... ... ... ... ... ...

... ... ... ... ... ...

244.41 253.16 249.36 253.02 254.45 249.32

21.21 22.00 21.63 21.92 21.93 21.55

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

1.75 1.75 1.75 1.75 1.75 1.75

1.56 1.62 1.63 1.54 1.56 1.73

... ... ... ... ... ...

2.50 2.50 2.50 2.62 2.75 2.85

... ... ... ... ... ...

... ... ... ... ... ...

2.94 2.88 2.84 2.89 2.96 3.01

3.53 3.50 3.46 3.50 3.56 3.61

... ... ... ... ... ...

... ... ... ... ... ...

253.61 264.93 273.37 269.85 259.65 266.15

21.93 22.89 23.48 23.36 22.71 23.41

... ... ... ... ... ...

1952 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

1.75 1.75 1.75 1.75 1.75 1.75

1.57 1.54 1.59 1.57 1.67 1.70

... ... ... ... ... ...

3.00 3.00 3.00 3.00 3.00 3.00

... ... ... ... ... ...

... ... ... ... ... ...

2.98 2.93 2.96 2.93 2.93 2.94

3.59 3.53 3.51 3.50 3.49 3.50

... ... ... ... ... ...

... ... ... ... ... ...

271.64 264.72 264.45 262.46 261.63 268.39

24.19 23.75 23.81 23.74 23.73 24.38

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

1.75 1.75 1.75 1.75 1.75 1.75

1.81 1.83 1.71 1.74 1.85 2.09

... ... ... ... ... ...

3.00 3.00 3.00 3.00 3.00 3.00

... ... ... ... ... ...

... ... ... ... ... ...

2.95 2.94 2.95 3.01 2.98 2.97

3.50 3.51 3.52 3.54 3.53 3.51

... ... ... ... ... ...

... ... ... ... ... ...

276.05 276.70 272.41 267.78 276.38 285.96

25.08 25.18 24.78 24.26 25.03 26.04

... ... ... ... ... ...

1953 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

1.88 2.00 2.00 2.00 2.00 2.00

1.96 1.97 2.01 2.19 2.16 2.11

... ... ... ... ... ...

3.00 3.00 3.00 3.03 3.25 3.25

... ... ... 2.36 2.48 2.45

... ... ... 2.83 3.05 3.11

3.02 3.07 3.12 3.23 3.34 3.40

3.51 3.53 3.57 3.65 3.78 3.86

2.44 2.59 2.65 2.67 2.82 3.03

... ... ... ... ... ...

288.45 283.96 286.79 275.29 276.84 266.89

26.18 25.86 25.99 24.71 24.84 23.95

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

... ... ... ... ... ...

2.00 2.00 2.00 2.00 2.00 2.00

2.04 2.04 1.79 1.38 1.44 1.60

... ... ... ... ... ...

3.25 3.25 3.25 3.25 3.25 3.25

2.38 2.28 2.20 1.79 1.67 1.66

2.93 2.95 2.87 2.66 2.68 2.59

3.28 3.24 3.29 3.16 3.11 3.13

3.86 3.85 3.88 3.82 3.75 3.74

2.95 2.90 2.87 2.71 2.60 2.59

... ... ... ... ... ...

270.33 272.20 261.90 270.72 277.09 281.15

24.29 24.39 23.27 23.97 24.50 24.83

... ... ... ... ... ...

1954 January ............... February .............. March .................. April ..................... May ..................... June ....................

... ... ... ... ... ...

2.00 1.79 1.75 1.63 1.50 1.50

1.18 0.97 1.03 0.97 0.76 0.64

... ... ... ... ... ...

3.25 3.25 3.13 3.00 3.00 3.00

1.41 1.14 1.13 0.96 0.85 0.82

2.48 2.47 2.37 2.29 2.37 2.38

3.06 2.95 2.86 2.85 2.88 2.90

3.71 3.61 3.51 3.47 3.47 3.49

2.50 2.42 2.39 2.47 2.49 2.47

... ... ... ... ... ...

286.64 292.13 299.16 310.93 322.85 327.91

25.46 26.02 26.57 27.63 28.73 28.96

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

0.80 1.22 1.06 0.85 0.83 1.28

1.50 1.50 1.50 1.50 1.50 1.50

0.72 0.92 1.01 0.98 0.93 1.15

... ... ... ... ... ...

3.00 3.00 3.00 3.00 3.00 3.00

0.84 0.88 1.03 1.17 1.14 1.21

2.30 2.36 2.38 2.43 2.48 2.51

2.89 2.87 2.89 2.87 2.89 2.90

3.50 3.49 3.47 3.46 3.45 3.45

2.32 2.26 2.31 2.34 2.32 2.36

... ... ... ... ... ...

341.27 346.06 352.71 358.29 375.71 393.84

30.13 30.73 31.45 32.18 33.44 34.97

... ... ... ... ... ...

1955 January ............... February .............. March .................. April ..................... May ..................... June ....................

1.39 1.29 1.35 1.43 1.43 1.64

1.50 1.50 1.50 1.63 1.75 1.75

1.22 1.17 1.28 1.59 1.45 1.41

... ... ... ... ... ...

3.00 3.00 3.00 3.00 3.00 3.00

1.39 1.57 1.59 1.75 1.90 1.91

2.61 2.65 2.68 2.75 2.76 2.78

2.93 2.93 3.02 3.01 3.04 3.05

3.45 3.47 3.48 3.49 3.50 3.51

2.40 2.43 2.44 2.41 2.38 2.41

... ... ... ... ... ...

398.43 410.26 408.91 423.00 421.55 440.83

35.60 36.79 36.50 37.76 37.60 39.78

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

1.68 1.96 2.18 2.24 2.35 2.48

1.75 1.97 2.18 2.25 2.36 2.50

1.60 1.90 2.07 2.23 2.24 2.54

... ... ... ... ... ...

3.00 3.23 3.25 3.40 3.50 3.50

2.02 2.37 2.36 2.39 2.48 2.73

2.90 2.97 2.97 2.88 2.89 2.96

3.06 3.11 3.13 3.10 3.10 3.15

3.52 3.56 3.59 3.59 3.58 3.62

2.54 2.60 2.58 2.51 2.45 2.57

... ... ... ... ... ...

462.17 457.31 476.44 452.65 476.60 484.58

42.69 42.43 44.34 42.11 44.95 45.37

... ... ... ... ... ...

1956 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.45 2.50 2.50 2.62 2.75 2.71

2.50 2.50 2.50 2.65 2.75 2.75

2.41 2.32 2.25 2.60 2.61 2.49

... ... ... ... ... ...

3.50 3.50 3.50 3.65 3.75 3.75

2.58 2.49 2.61 2.92 2.94 2.74

2.90 2.84 2.96 3.18 3.07 3.00

3.11 3.08 3.10 3.24 3.28 3.26

3.60 3.58 3.60 3.68 3.73 3.76

2.50 2.44 2.57 2.70 2.68 2.54

... ... ... ... ... ...

474.75 475.53 502.67 511.05 495.21 485.33

44.15 44.43 47.49 48.05 46.54 46.27

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

2.75 2.73 2.95 2.96 2.88 2.94

2.75 2.81 3.00 3.00 3.00 3.00

2.31 2.60 2.84 2.90 2.99 3.21

... ... ... ... ... ...

3.75 3.84 4.00 4.00 4.00 4.00

2.76 3.10 3.35 3.28 3.44 3.68

3.11 3.33 3.38 3.34 3.49 3.59

3.28 3.43 3.56 3.59 3.69 3.75

3.80 3.93 4.07 4.17 4.24 4.37

2.65 2.80 2.93 2.95 3.16 3.22

... ... ... ... ... ...

509.75 511.69 495.03 483.81 479.36 492.02

48.78 48.49 46.84 46.24 45.76 46.44

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

495

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1957 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.84 3.00 2.96 3.00 3.00 3.00

3.00 3.00 3.00 3.00 3.00 3.00

3.11 3.10 3.08 3.07 3.06 3.29

... ... ... ... ... ...

4.00 4.00 4.00 4.00 4.00 4.00

3.37 3.38 3.42 3.49 3.48 3.65

3.46 3.34 3.41 3.48 3.60 3.80

3.77 3.67 3.66 3.67 3.74 3.91

4.49 4.47 4.43 4.44 4.52 4.63

3.18 3.00 3.09 3.13 3.27 3.41

... ... ... ... ... ...

485.90 466.83 472.77 485.42 500.83 505.29

45.43 43.47 44.03 45.05 46.78 47.55

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

2.99 3.24 3.47 3.50 3.28 2.98

3.00 3.15 3.50 3.50 3.23 3.00

3.16 3.37 3.53 3.58 3.31 3.04

... ... ... ... ... ...

4.00 4.42 4.50 4.50 4.50 4.50

3.81 4.01 4.07 4.01 3.57 3.18

3.93 3.93 3.92 3.97 3.72 3.21

3.99 4.10 4.12 4.10 4.08 3.81

4.73 4.82 4.93 4.99 5.09 5.03

3.39 3.54 3.53 3.42 3.37 3.04

... ... ... ... ... ...

514.65 487.97 471.80 443.38 436.73 436.96

48.51 45.84 43.98 41.24 40.35 40.33

... ... ... ... ... ...

1958 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.72 1.67 1.20 1.26 0.63 0.93

2.94 2.75 2.35 2.03 1.75 1.75

2.44 1.53 1.30 1.13 0.91 0.83

... ... ... ... ... ...

4.34 4.00 4.00 3.83 3.50 3.50

2.65 1.99 1.84 1.45 1.37 1.23

3.09 3.05 2.98 2.88 2.92 2.97

3.60 3.59 3.63 3.60 3.57 3.57

4.83 4.66 4.68 4.67 4.62 4.55

2.91 3.02 3.06 2.96 2.92 2.97

... ... ... ... ... ...

445.69 444.16 450.15 446.91 460.04 471.98

41.12 41.26 42.11 42.34 43.70 44.75

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

0.68 1.53 1.76 1.80 2.27 2.42

1.75 1.75 1.91 2.00 2.40 2.50

0.91 1.69 2.44 2.63 2.67 2.77

... ... ... ... ... 3.01

3.50 3.50 3.83 4.00 4.00 4.00

1.61 2.50 3.05 3.19 3.10 3.29

3.20 3.54 3.76 3.80 3.74 3.86

3.67 3.85 4.09 4.11 4.09 4.08

4.53 4.67 4.87 4.92 4.87 4.85

3.09 3.35 3.54 3.45 3.32 3.33

... ... ... ... ... ...

488.30 507.55 521.81 539.85 557.11 566.44

45.98 47.70 48.96 50.95 52.50 53.49

... ... ... ... ... ...

1959 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.48 2.43 2.80 2.96 2.90 3.39

2.50 2.50 2.92 3.00 3.05 3.50

2.82 2.70 2.80 2.95 2.84 3.21

3.09 3.13 3.13 3.27 3.33 3.52

4.00 4.00 4.00 4.00 4.23 4.50

3.36 3.54 3.61 3.72 3.96 4.07

4.02 3.96 3.99 4.12 4.31 4.34

4.12 4.14 4.13 4.23 4.37 4.46

4.87 4.89 4.85 4.86 4.96 5.04

3.42 3.36 3.30 3.39 3.57 3.71

... ... ... ... ... ...

592.30 590.72 609.13 617.00 630.80 631.52

55.62 54.77 56.15 57.10 57.96 57.46

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

3.47 3.50 3.76 3.98 4.00 3.99

3.50 3.50 3.83 4.00 4.00 4.00

3.20 3.38 4.04 4.05 4.15 4.49

3.82 3.87 4.70 4.53 4.54 4.85

4.50 4.50 5.00 5.00 5.00 5.00

4.39 4.42 5.00 4.80 4.81 5.14

4.40 4.43 4.68 4.53 4.53 4.69

4.47 4.43 4.52 4.57 4.56 4.58

5.08 5.09 5.18 5.28 5.26 5.28

3.71 3.58 3.78 3.62 3.55 3.70

... ... ... ... ... ...

662.81 660.58 635.49 637.35 646.43 671.36

59.74 59.40 57.05 57.00 57.23 59.06

... ... ... ... ... ...

1960 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.99 3.97 3.84 3.92 3.85 3.32

4.00 4.00 4.00 4.00 4.00 3.65

4.35 3.96 3.31 3.23 3.29 2.46

4.74 4.30 3.61 3.55 3.58 2.74

5.00 5.00 5.00 5.00 5.00 5.00

5.03 4.66 4.02 4.04 4.21 3.36

4.72 4.49 4.25 4.28 4.35 4.15

4.61 4.56 4.49 4.45 4.46 4.45

5.34 5.34 5.25 5.20 5.28 5.26

3.72 3.60 3.57 3.56 3.60 3.55

... ... ... ... ... ...

655.39 624.89 614.70 619.98 615.63 644.39

58.03 55.78 55.02 55.73 55.22 57.26

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

3.23 2.98 2.60 2.47 2.44 1.98

3.50 3.18 3.00 3.00 3.00 3.00

2.30 2.30 2.48 2.30 2.37 2.25

2.71 2.59 2.83 2.73 2.66 2.50

5.00 4.85 4.50 4.50 4.50 4.50

3.20 2.95 3.07 3.04 3.08 2.86

3.90 3.80 3.80 3.89 3.93 3.84

4.41 4.28 4.25 4.30 4.31 4.35

5.22 5.08 5.01 5.11 5.08 5.10

3.50 3.33 3.42 3.53 3.40 3.40

... ... ... ... ... ...

625.83 624.47 598.10 582.47 601.14 609.54

55.84 56.51 54.81 53.73 55.47 56.80

... ... ... ... ... ...

1961 January ............... February .............. March .................. April ..................... May ..................... June ....................

1.45 2.54 2.02 1.49 1.98 1.73

3.00 3.00 3.00 3.00 3.00 3.00

2.24 2.42 2.39 2.29 2.29 2.33

2.47 2.60 2.54 2.47 2.45 2.54

4.50 4.50 4.50 4.50 4.50 4.50

2.81 2.93 2.88 2.88 2.87 3.06

3.84 3.78 3.74 3.78 3.71 3.88

4.32 4.27 4.22 4.25 4.27 4.33

5.10 5.07 5.02 5.01 5.01 5.03

3.39 3.31 3.45 3.48 3.43 3.52

... ... ... ... ... ...

632.20 650.02 670.57 684.90 693.03 691.46

59.72 62.17 64.12 65.83 66.50 65.62

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

1.17 2.00 1.88 2.26 2.61 2.33

3.00 3.00 3.00 3.00 3.00 3.00

2.24 2.39 2.28 2.30 2.48 2.60

2.45 2.66 2.68 2.66 2.70 2.88

4.50 4.50 4.50 4.50 4.50 4.50

2.92 3.06 3.06 3.05 3.07 3.18

3.92 4.04 3.98 3.92 3.94 4.06

4.41 4.45 4.45 4.42 4.39 4.42

5.09 5.11 5.12 5.13 5.11 5.10

3.51 3.52 3.53 3.42 3.41 3.47

... ... ... ... ... ...

690.67 718.64 711.02 703.01 724.74 728.44

65.44 67.79 67.26 68.00 71.08 71.74

... ... ... ... ... ...

1962 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.15 2.37 2.85 2.78 2.36 2.68

3.00 3.00 3.00 3.00 3.00 3.00

2.72 2.73 2.72 2.73 2.69 2.73

2.94 2.93 2.87 2.83 2.78 2.80

4.50 4.50 4.50 4.50 4.50 4.50

3.28 3.28 3.06 2.99 3.03 3.03

4.08 4.04 3.93 3.84 3.87 3.91

4.42 4.42 4.39 4.33 4.28 4.28

5.08 5.07 5.04 5.02 5.00 5.02

3.34 3.21 3.14 3.06 3.11 3.25

... ... ... ... ... ...

705.15 711.95 714.20 690.29 643.71 572.65

69.07 70.22 70.29 68.05 62.99 55.63

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

2.71 2.93 2.90 2.90 2.94 2.93

3.00 3.00 3.00 3.00 3.00 3.00

2.92 2.82 2.78 2.74 2.83 2.87

3.08 2.99 2.93 2.84 2.89 2.91

4.50 4.50 4.50 4.50 4.50 4.50

3.29 3.20 3.06 2.98 3.00 3.01

4.01 3.98 3.98 3.93 3.92 3.86

4.34 4.35 4.32 4.28 4.25 4.24

5.05 5.06 5.03 4.99 4.96 4.92

3.27 3.23 3.11 3.02 3.04 3.07

... ... ... ... ... ...

581.79 602.50 597.02 580.67 628.83 648.38

56.97 58.52 58.00 56.17 60.04 62.64

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

496

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1963 January ............... February .............. March .................. April ..................... May ..................... June ....................

2.92 3.00 2.98 2.90 3.00 2.99

3.00 3.00 3.00 3.00 3.00 3.00

2.91 2.92 2.89 2.90 2.93 2.99

2.96 2.98 2.95 2.98 3.01 3.08

4.50 4.50 4.50 4.50 4.50 4.50

3.04 3.01 3.03 3.11 3.12 3.20

3.83 3.92 3.93 3.97 3.93 3.99

4.21 4.19 4.19 4.21 4.22 4.23

4.91 4.89 4.88 4.87 4.85 4.84

3.10 3.15 3.05 3.10 3.11 3.21

... ... ... ... ... ...

672.10 679.74 674.63 707.12 720.84 719.15

65.06 65.92 65.67 68.76 70.14 70.11

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

3.02 3.49 3.48 3.50 3.48 3.38

3.24 3.50 3.50 3.50 3.50 3.50

3.18 3.32 3.38 3.45 3.52 3.52

3.31 3.44 3.50 3.58 3.65 3.66

4.50 4.50 4.50 4.50 4.50 4.50

3.48 3.53 3.57 3.64 3.74 3.81

4.02 4.00 4.08 4.11 4.12 4.13

4.26 4.29 4.31 4.32 4.33 4.35

4.84 4.83 4.84 4.83 4.84 4.85

3.22 3.13 3.20 3.20 3.30 3.27

... ... ... ... ... ...

700.75 714.16 738.53 747.53 743.24 759.96

69.07 70.98 72.85 73.03 72.62 74.17

... ... ... ... ... ...

1964 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.48 3.48 3.43 3.47 3.50 3.50

3.50 3.50 3.50 3.50 3.50 3.50

3.52 3.53 3.54 3.47 3.48 3.48

3.64 3.67 3.72 3.66 3.60 3.56

4.50 4.50 4.50 4.50 4.50 4.50

3.79 3.78 3.91 3.91 3.84 3.83

4.17 4.15 4.22 4.23 4.20 4.17

4.39 4.36 4.38 4.40 4.41 4.41

4.83 4.83 4.83 4.85 4.85 4.85

3.22 3.14 3.28 3.28 3.20 3.20

... ... ... ... ... ...

777.07 793.02 812.19 820.96 823.13 817.65

76.45 77.39 78.80 79.94 80.72 80.24

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

3.42 3.50 3.45 3.36 3.52 3.85

3.50 3.50 3.50 3.50 3.62 4.00

3.46 3.50 3.53 3.57 3.64 3.84

3.56 3.61 3.68 3.72 3.81 3.95

4.50 4.50 4.50 4.50 4.50 4.50

3.72 3.74 3.84 3.86 3.91 4.02

4.19 4.19 4.20 4.19 4.15 4.18

4.40 4.41 4.42 4.42 4.43 4.44

4.83 4.82 4.82 4.81 4.81 4.81

3.18 3.19 3.23 3.25 3.18 3.13

... ... ... ... ... ...

844.25 835.31 863.55 875.27 880.03 866.73

83.22 82.00 83.41 84.85 85.44 83.96

... ... ... ... ... ...

1965 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.90 3.98 4.04 4.09 4.10 4.04

4.00 4.00 4.00 4.00 4.00 4.00

3.81 3.93 3.93 3.93 3.89 3.80

3.94 4.00 4.00 3.99 3.95 3.86

4.50 4.50 4.50 4.50 4.50 4.50

3.94 4.03 4.06 4.04 4.03 3.99

4.19 4.21 4.21 4.20 4.21 4.21

4.43 4.41 4.42 4.43 4.44 4.46

4.80 4.78 4.78 4.80 4.81 4.85

3.06 3.09 3.17 3.15 3.17 3.24

... ... ... ... ... ...

889.91 894.42 896.45 907.72 927.50 878.07

86.12 86.75 86.83 87.97 89.28 85.04

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

4.09 4.12 4.01 4.08 4.10 4.32

4.00 4.00 4.00 4.00 4.00 4.42

3.84 3.84 3.92 4.03 4.09 4.38

3.90 3.95 4.07 4.19 4.24 4.55

4.50 4.50 4.50 4.50 4.50 4.92

3.98 4.07 4.20 4.30 4.37 4.72

4.20 4.25 4.29 4.35 4.45 4.62

4.48 4.49 4.52 4.56 4.60 4.68

4.88 4.88 4.91 4.93 4.95 5.02

3.27 3.24 3.35 3.40 3.45 3.54

... ... ... ... ... ...

873.44 887.71 922.20 944.78 953.31 955.20

84.91 86.49 89.38 91.39 92.15 91.73

... ... ... ... ... ...

1966 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.42 4.60 4.65 4.67 4.90 5.17

4.50 4.50 4.50 4.50 4.50 4.50

4.59 4.65 4.59 4.62 4.64 4.50

4.71 4.82 4.78 4.74 4.81 4.65

5.00 5.00 5.35 5.50 5.50 5.52

4.88 4.94 4.97 4.90 4.93 4.97

4.61 4.83 4.87 4.75 4.78 4.81

4.74 4.78 4.92 4.96 4.98 5.07

5.06 5.12 5.32 5.41 5.48 5.58

3.52 3.64 3.72 3.56 3.65 3.77

... ... ... ... ... ...

985.93 977.15 926.43 943.46 890.71 888.83

93.32 92.69 88.88 91.60 86.78 86.06

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

5.30 5.53 5.40 5.53 5.76 5.40

4.50 4.50 4.50 4.50 4.50 4.50

4.80 4.96 5.37 5.35 5.32 4.96

4.93 5.27 5.79 5.62 5.54 5.07

5.75 5.88 6.00 6.00 6.00 6.00

5.17 5.54 5.82 5.58 5.54 5.20

5.02 5.22 5.18 5.01 5.16 4.84

5.16 5.31 5.49 5.41 5.35 5.39

5.68 5.83 6.09 6.10 6.13 6.18

3.95 4.12 4.12 3.93 3.86 3.86

... ... ... ... ... ...

875.89 817.55 791.66 778.11 806.56 800.88

85.84 80.65 77.81 77.13 80.99 81.33

... ... ... ... ... ...

1967 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.94 5.00 4.53 4.05 3.94 3.98

4.50 4.50 4.50 4.10 4.00 4.00

4.72 4.56 4.26 3.84 3.60 3.54

4.74 4.59 4.22 3.89 3.80 3.89

5.96 5.75 5.71 5.50 5.50 5.50

4.75 4.71 4.35 4.11 4.15 4.48

4.58 4.63 4.54 4.59 4.85 5.02

5.20 5.03 5.13 5.11 5.24 5.44

5.97 5.82 5.85 5.83 5.96 6.15

3.54 3.52 3.55 3.60 3.89 3.96

... ... ... ... ... ...

830.55 851.12 858.12 868.66 883.74 872.66

84.45 87.36 89.42 90.96 92.59 91.43

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

3.79 3.90 3.99 3.88 4.13 4.51

4.00 4.00 4.00 4.00 4.18 4.50

4.21 4.27 4.42 4.56 4.73 4.97

4.72 4.83 4.96 5.07 5.25 5.49

5.50 5.50 5.50 5.50 5.68 6.00

5.01 5.13 5.24 5.37 5.61 5.71

5.16 5.28 5.30 5.48 5.75 5.70

5.58 5.62 5.65 5.82 6.07 6.19

6.26 6.33 6.40 6.52 6.72 6.93

4.02 3.99 4.12 4.29 4.34 4.43

... ... ... ... ... ...

888.51 912.48 923.46 907.55 865.44 887.20

93.01 94.49 95.81 95.66 92.66 95.30

... ... ... ... ... ...

1968 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.60 4.71 5.05 5.76 6.11 6.07

4.50 4.50 4.66 5.20 5.50 5.50

5.00 4.98 5.17 5.38 5.66 5.52

5.24 5.17 5.33 5.49 5.83 5.64

6.00 6.00 6.00 6.20 6.50 6.50

5.43 5.41 5.58 5.71 6.14 5.98

5.53 5.56 5.74 5.64 5.87 5.72

6.17 6.10 6.11 6.21 6.27 6.28

6.84 6.80 6.85 6.97 7.03 7.07

4.29 4.31 4.54 4.34 4.54 4.49

... ... ... ... ... ...

884.78 847.20 834.76 893.38 905.23 906.82

95.04 90.75 89.09 95.67 97.87 100.53

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

6.02 6.03 5.78 5.91 5.82 6.02

5.50 5.48 5.25 5.25 5.25 5.36

5.31 5.09 5.19 5.35 5.45 5.96

5.41 5.23 5.25 5.41 5.60 6.06

6.50 6.50 6.45 6.25 6.25 6.60

5.65 5.43 5.45 5.57 5.75 6.19

5.50 5.42 5.46 5.58 5.70 6.03

6.24 6.02 5.97 6.09 6.19 6.45

6.98 6.82 6.79 6.84 7.01 7.23

4.33 4.21 4.38 4.49 4.60 4.82

... ... ... ... ... ...

905.33 883.73 922.82 955.48 964.13 968.39

100.30 98.11 101.34 103.76 105.40 106.48

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

497

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1969 January ............... February .............. March .................. April ..................... May ..................... June ....................

6.30 6.61 6.79 7.41 8.67 8.90

5.50 5.50 5.50 5.95 6.00 6.00

6.14 6.12 6.02 6.11 6.04 6.44

6.28 6.30 6.16 6.13 6.15 6.75

6.95 7.00 7.24 7.50 7.50 8.23

6.34 6.41 6.34 6.26 6.42 7.04

6.04 6.19 6.30 6.17 6.32 6.57

6.59 6.66 6.85 6.89 6.79 6.98

7.32 7.30 7.51 7.54 7.52 7.70

4.85 4.98 5.26 5.19 5.33 5.75

... ... ... ... ... ...

935.00 931.31 916.52 927.38 954.88 896.62

102.04 101.46 99.30 101.26 104.62 99.14

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

8.61 9.19 9.15 9.00 8.85 8.97

6.00 6.00 6.00 6.00 6.00 6.00

7.00 6.98 7.09 7.00 7.24 7.82

7.24 7.19 7.32 7.29 7.62 7.90

8.50 8.50 8.50 8.50 8.50 8.50

7.60 7.54 7.82 7.64 7.89 8.17

6.72 6.69 7.16 7.10 7.14 7.65

7.08 6.97 7.14 7.33 7.35 7.72

7.84 7.86 8.05 8.22 8.25 8.65

5.75 6.00 6.26 6.09 6.30 6.82

... ... ... ... ... ...

844.02 825.46 826.72 832.52 841.10 789.23

94.71 94.18 94.51 95.52 96.21 91.11

... ... ... ... ... ...

1970 January ............... February .............. March .................. April ..................... May ..................... June ....................

8.98 8.98 7.76 8.10 7.94 7.60

6.00 6.00 6.00 6.00 6.00 6.00

7.87 7.13 6.63 6.51 6.84 6.68

7.78 7.22 6.58 6.60 7.02 6.86

8.50 8.50 8.39 8.00 8.00 8.00

8.10 7.59 6.97 7.06 7.75 7.55

7.79 7.24 7.07 7.39 7.91 7.84

7.91 7.93 7.84 7.83 8.11 8.48

8.86 8.78 8.63 8.70 8.98 9.25

6.63 6.22 6.05 6.65 7.00 6.93

... ... ... ... ... ...

782.93 756.22 777.63 771.65 691.97 699.30

90.31 87.16 88.65 85.95 76.06 75.59

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

7.21 6.61 6.29 6.20 5.60 4.90

6.00 6.00 6.00 6.00 5.85 5.52

6.45 6.41 6.12 5.91 5.28 4.87

6.51 6.55 6.46 6.21 5.42 4.89

8.00 8.00 7.83 7.50 7.28 6.92

7.10 6.98 6.73 6.43 5.51 5.00

7.46 7.53 7.39 7.33 6.84 6.39

8.44 8.13 8.09 8.03 8.05 7.64

9.40 9.44 9.39 9.33 9.38 9.12

6.42 6.17 6.31 6.37 5.71 5.47

... ... ... ... ... ...

712.81 731.98 759.39 763.74 769.28 821.51

75.72 77.92 82.58 84.37 84.28 90.05

... ... ... ... ... ...

1971 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.14 3.72 3.71 4.15 4.63 4.91

5.23 4.91 4.75 4.75 4.75 4.75

4.44 3.70 3.38 3.86 4.14 4.75

4.47 3.78 3.50 4.03 4.36 4.97

6.29 5.88 5.44 5.28 5.46 5.50

4.57 3.89 3.69 4.30 5.04 5.64

6.24 6.11 5.70 5.83 6.39 6.52

7.36 7.08 7.21 7.25 7.53 7.64

8.74 8.39 8.46 8.45 8.62 8.75

5.35 5.23 5.17 5.37 5.90 5.95

... ... ... 7.31 7.43 7.53

849.04 879.69 901.29 932.54 925.51 900.45

93.49 97.11 99.60 103.04 101.64 99.72

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

5.31 5.56 5.55 5.20 4.91 4.14

4.88 5.00 5.00 5.00 4.90 4.63

5.40 4.94 4.69 4.46 4.22 4.01

5.63 5.22 4.97 4.60 4.38 4.23

5.91 6.00 6.00 5.90 5.53 5.49

6.04 5.80 5.41 4.91 4.67 4.60

6.73 6.58 6.14 5.93 5.81 5.93

7.64 7.59 7.44 7.39 7.26 7.25

8.76 8.76 8.59 8.48 8.38 8.38

6.06 5.82 5.37 5.06 5.20 5.21

7.60 7.70 7.69 7.63 7.55 7.48

887.81 875.41 901.22 872.15 822.11 869.92

99.00 97.24 99.40 97.29 92.78 99.17

... ... ... ... ... ...

1972 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.50 3.29 3.83 4.17 4.27 4.46

4.50 4.50 4.50 4.50 4.50 4.50

3.38 3.20 3.73 3.71 3.69 3.91

3.66 3.63 4.12 4.23 4.12 4.35

5.18 4.75 4.75 4.97 5.00 5.04

4.28 4.27 4.67 4.96 4.64 4.93

5.95 6.08 6.07 6.19 6.13 6.11

7.19 7.27 7.24 7.30 7.30 7.23

8.23 8.23 8.24 8.24 8.23 8.20

5.12 5.28 5.31 5.43 5.30 5.33

7.44 7.33 7.30 7.29 7.37 7.37

904.65 914.37 939.23 958.17 948.22 943.44

103.30 105.24 107.69 108.81 107.65 108.01

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

4.55 4.80 4.87 5.04 5.06 5.33

4.50 4.50 4.50 4.50 4.50 4.50

3.98 4.02 4.66 4.74 4.78 5.07

4.50 4.55 5.13 5.13 5.09 5.30

5.25 5.27 5.50 5.73 5.75 5.79

4.96 4.98 5.52 5.52 5.27 5.52

6.11 6.21 6.55 6.48 6.28 6.36

7.21 7.19 7.22 7.21 7.12 7.08

8.23 8.19 8.09 8.06 7.99 7.93

5.41 5.30 5.36 5.18 5.02 5.05

7.40 7.40 7.42 7.42 7.43 7.44

925.94 958.36 950.60 944.10 1 001.20 1 020.32

107.21 111.01 109.39 109.56 115.05 117.50

... ... ... ... ... ...

1973 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.94 6.58 7.09 7.12 7.84 8.49

4.77 5.05 5.50 5.50 5.90 6.33

5.41 5.60 6.09 6.26 6.36 7.19

5.62 5.83 6.51 6.52 6.62 7.23

6.00 6.02 6.30 6.61 7.01 7.49

5.89 6.19 6.85 6.85 6.89 7.31

6.46 6.64 6.71 6.67 6.85 6.90

7.15 7.22 7.29 7.26 7.29 7.37

7.90 7.97 8.03 8.09 8.06 8.13

5.05 5.13 5.29 5.15 5.15 5.17

7.44 7.44 7.46 7.54 7.65 7.73

1 026.82 974.05 957.36 944.12 922.41 893.90

118.42 114.16 112.42 110.27 107.22 104.75

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

10.40 10.50 10.78 10.01 10.03 9.95

6.98 7.29 7.50 7.50 7.50 7.50

8.01 8.67 8.29 7.22 7.83 7.45

8.12 8.65 8.45 7.32 7.96 7.56

8.30 9.23 9.86 9.94 9.75 9.75

8.39 8.82 8.31 7.40 7.57 7.27

7.13 7.40 7.09 6.79 6.73 6.74

7.45 7.68 7.63 7.60 7.67 7.68

8.24 8.53 8.63 8.41 8.42 8.48

5.40 5.48 5.10 5.05 5.18 5.12

8.05 8.50 8.82 8.77 8.58 8.54

903.61 883.73 909.99 967.63 878.99 824.08

105.83 103.80 105.61 109.84 102.03 94.78

... ... ... ... ... ...

1974 January ............... February .............. March .................. April ..................... May ..................... June ....................

9.65 8.97 9.35 10.51 11.31 11.93

7.50 7.50 7.50 7.60 8.00 8.00

7.77 7.12 7.96 8.33 8.23 7.90

7.65 6.96 7.83 8.32 8.40 8.12

9.73 9.21 8.85 10.02 11.25 11.54

7.42 6.88 7.76 8.62 8.78 8.67

6.99 6.96 7.21 7.51 7.58 7.54

7.83 7.85 8.01 8.25 8.37 8.47

8.48 8.53 8.62 8.87 9.05 9.27

5.22 5.20 5.40 5.73 6.02 6.13

8.54 8.46 8.41 8.58 8.97 9.09

857.25 831.33 874.01 847.79 830.26 831.45

96.11 93.45 97.44 92.46 89.67 89.79

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

12.92 12.01 11.34 10.06 9.45 8.53

8.00 8.00 8.00 8.00 8.00 7.81

7.55 8.96 8.06 7.46 7.47 7.15

7.94 9.11 8.53 7.74 7.52 7.11

11.97 12.00 12.00 11.68 10.83 10.50

8.80 9.36 8.87 8.05 7.66 7.31

7.81 8.04 8.04 7.90 7.68 7.43

8.72 9.00 9.24 9.27 8.89 8.89

9.48 9.77 10.18 10.48 10.60 10.63

6.68 6.71 6.76 6.57 6.61 7.05

9.28 9.59 9.96 9.98 9.79 9.62

783.01 729.30 651.29 638.62 642.11 596.50

82.82 76.03 68.12 69.44 71.74 67.07

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

498

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1975 January ............... February .............. March .................. April ..................... May ..................... June ....................

7.13 6.24 5.54 5.49 5.22 5.55

7.40 6.82 6.40 6.25 6.12 6.00

6.26 5.50 5.49 5.61 5.23 5.34

6.36 5.62 5.62 6.00 5.59 5.61

10.05 8.96 7.93 7.50 7.40 7.07

6.83 5.98 6.11 6.90 6.39 6.29

7.50 7.39 7.73 8.23 8.06 7.86

8.83 8.62 8.67 8.95 8.90 8.77

10.81 10.65 10.48 10.58 10.69 10.62

6.82 6.39 6.73 6.95 6.97 6.94

9.43 9.11 8.90 8.82 8.91 8.89

659.09 724.89 765.06 790.94 836.55 845.70

72.56 80.10 83.78 84.72 90.10 92.40

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

6.10 6.14 6.24 5.82 5.22 5.20

6.00 6.00 6.00 6.00 6.00 6.00

6.13 6.44 6.42 5.96 5.48 5.44

6.50 6.94 6.92 6.25 5.80 5.85

7.15 7.66 7.88 7.96 7.53 7.26

7.11 7.70 7.75 6.95 6.49 6.60

8.06 8.40 8.43 8.14 8.05 8.00

8.84 8.95 8.95 8.86 8.78 8.79

10.55 10.59 10.61 10.62 10.56 10.56

7.07 7.17 7.44 7.39 7.43 7.31

8.89 8.94 9.13 9.22 9.15 9.10

856.29 815.52 818.29 831.27 845.52 840.80

92.49 85.71 84.67 88.57 90.07 88.70

... ... ... ... ... ...

1976 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.87 4.77 4.84 4.82 5.29 5.48

5.79 5.50 5.50 5.50 5.50 5.50

4.87 4.88 5.00 4.86 5.20 5.41

5.14 5.20 5.44 5.18 5.62 5.77

7.00 6.75 6.75 6.75 6.75 7.20

5.81 5.91 6.21 5.92 6.40 6.52

7.74 7.79 7.73 7.56 7.90 7.86

8.60 8.55 8.52 8.40 8.58 8.62

10.41 10.24 10.12 9.94 9.86 9.89

7.07 6.94 6.91 6.60 6.87 6.87

9.02 8.81 8.76 8.73 8.77 8.85

929.34 971.72 988.55 992.52 988.82 985.60

96.86 100.64 101.08 101.93 101.16 101.77

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

5.31 5.29 5.25 5.02 4.95 4.65

5.50 5.50 5.50 5.50 5.43 5.25

5.23 5.14 5.08 4.92 4.75 4.35

5.53 5.40 5.30 5.06 4.88 4.51

7.25 7.01 7.00 6.77 6.50 6.35

6.20 6.00 5.84 5.50 5.29 4.89

7.83 7.77 7.59 7.41 7.29 6.87

8.56 8.45 8.38 8.32 8.25 7.98

9.82 9.64 9.40 9.29 9.23 9.12

6.79 6.61 6.51 6.30 6.29 5.94

8.93 9.00 8.98 8.93 8.81 8.79

993.20 981.63 994.38 951.96 944.58 976.87

104.20 103.29 105.45 101.89 101.19 104.66

... ... ... ... ... ...

1977 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.61 4.68 4.69 4.73 5.35 5.39

5.25 5.25 5.25 5.25 5.25 5.25

4.62 4.67 4.60 4.54 4.96 5.02

4.83 4.90 4.88 4.80 5.20 5.21

6.25 6.25 6.25 6.25 6.41 6.75

5.29 5.47 5.50 5.44 5.84 5.80

7.21 7.39 7.46 7.37 7.46 7.28

7.96 8.04 8.10 8.04 8.05 7.95

9.08 9.12 9.12 9.07 9.01 8.91

5.87 5.88 5.89 5.72 5.75 5.62

8.72 8.67 8.69 8.75 8.82 8.86

970.63 941.75 946.10 929.12 926.30 916.57

103.81 100.96 100.57 99.05 98.76 99.29

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

5.42 5.90 6.14 6.47 6.51 6.56

5.25 5.27 5.75 5.80 6.00 6.00

5.19 5.49 5.81 6.16 6.10 6.07

5.40 5.83 6.04 6.43 6.41 6.40

6.75 6.83 7.13 7.52 7.75 7.75

5.94 6.37 6.53 6.97 6.95 6.96

7.33 7.40 7.34 7.52 7.58 7.69

7.94 7.98 7.92 8.04 8.08 8.19

8.87 8.82 8.80 8.89 8.95 8.99

5.63 5.62 5.51 5.64 5.49 5.57

8.94 8.94 8.90 8.92 8.92 8.96

908.21 872.27 853.37 823.96 828.52 818.80

100.18 97.75 96.23 93.74 94.28 93.82

... ... ... ... ... ...

1978 January ............... February .............. March .................. April ..................... May ..................... June ....................

6.70 6.78 6.79 6.89 7.36 7.60

6.37 6.50 6.50 6.50 6.84 7.00

6.44 6.45 6.29 6.29 6.41 6.73

6.70 6.74 6.63 6.73 7.02 7.23

7.93 8.00 8.00 8.00 8.27 8.63

7.28 7.34 7.31 7.45 7.82 8.09

7.96 8.03 8.04 8.15 8.35 8.46

8.41 8.47 8.47 8.56 8.69 8.76

9.17 9.20 9.22 9.32 9.49 9.60

5.71 5.62 5.61 5.79 6.03 6.22

9.02 9.16 9.20 9.36 9.58 9.71

781.08 763.58 756.37 794.66 838.56 840.25

90.25 88.98 88.82 92.71 97.41 97.66

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

7.81 8.04 8.45 8.96 9.76 10.03

7.23 7.43 7.83 8.26 9.50 9.50

7.01 7.08 7.85 7.99 8.64 9.08

7.44 7.37 7.99 8.55 9.24 9.36

9.00 9.01 9.41 9.94 10.94 11.55

8.39 8.31 8.64 9.14 10.01 10.30

8.64 8.41 8.42 8.64 8.81 9.01

8.88 8.69 8.69 8.89 9.03 9.16

9.60 9.48 9.42 9.59 9.83 9.94

6.28 6.12 6.09 6.13 6.19 6.50

9.74 9.79 9.76 9.86 10.11 10.35

831.72 887.93 878.64 857.70 804.30 807.96

97.19 103.92 103.86 100.58 94.71 96.11

... ... ... ... ... ...

1979 January ............... February .............. March .................. April ..................... May ..................... June ....................

10.07 10.06 10.09 10.01 10.24 10.29

9.50 9.50 9.50 9.50 9.50 9.50

9.35 9.32 9.48 9.46 9.61 9.06

9.47 9.41 9.47 9.49 9.54 9.06

11.75 11.75 11.75 11.75 11.75 11.65

10.41 10.24 10.25 10.12 10.12 9.57

9.10 9.10 9.12 9.18 9.25 8.91

9.25 9.26 9.37 9.38 9.50 9.29

10.13 10.08 10.26 10.33 10.47 10.38

6.46 6.31 6.33 6.28 6.25 6.12

10.39 10.41 10.43 10.50 10.69 11.04

837.39 825.18 847.85 864.97 837.41 838.65

99.71 98.23 100.11 102.07 99.73 101.73

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

10.47 10.94 11.43 13.77 13.18 13.78

9.69 10.24 10.70 11.77 12.00 12.00

9.24 9.52 10.26 11.70 11.79 12.04

9.24 9.49 10.20 11.66 11.82 11.84

11.54 11.91 12.90 14.39 15.55 15.30

9.64 9.98 10.84 12.44 12.39 11.98

8.95 9.03 9.33 10.30 10.65 10.39

9.20 9.23 9.44 10.13 10.76 10.74

10.29 10.35 10.54 11.40 11.99 12.06

6.13 6.20 6.52 7.08 7.30 7.22

11.09 11.09 11.30 11.64 12.83 12.90

836.96 873.55 878.51 840.52 815.79 836.14

102.71 107.36 108.60 104.47 103.66 107.78

... ... ... ... ... ...

1980 January ............... February .............. March .................. April ..................... May ..................... June ....................

13.82 14.13 17.19 17.61 10.98 9.47

12.00 12.52 13.00 13.00 12.94 11.40

12.00 12.86 15.20 13.20 8.58 7.07

11.84 12.86 15.03 12.88 8.65 7.30

15.25 15.63 18.31 19.77 16.57 12.63

12.06 13.92 15.82 13.30 9.39 8.16

10.80 12.41 12.75 11.47 10.18 9.78

11.09 12.38 12.96 12.04 10.99 10.58

12.42 13.57 14.45 14.19 13.17 12.71

7.35 8.16 9.16 8.63 7.59 7.63

12.88 13.04 15.28 16.33 14.26 12.71

860.75 878.22 803.57 786.35 828.20 869.86

110.87 115.34 104.69 102.97 107.69 114.55

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

9.03 9.61 10.87 12.81 15.85 18.90

10.87 10.00 10.17 11.00 11.47 12.87

8.06 9.13 10.27 11.62 13.73 15.49

8.06 9.41 10.57 11.63 13.50 14.64

11.48 11.12 12.23 13.79 16.06 20.35

8.65 10.24 11.52 12.49 14.15 14.88

10.25 11.10 11.51 11.75 12.68 12.84

11.07 11.64 12.02 12.31 12.97 13.21

12.65 13.15 13.70 14.23 14.64 15.14

8.13 8.67 8.94 9.11 9.56 10.20

12.19 12.56 13.20 13.79 14.21 14.79

909.79 947.33 946.68 949.17 971.09 945.97

119.83 123.50 126.51 130.22 135.65 133.48

... ... ... ... ... ...

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

499

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1981 January ............... February .............. March .................. April ..................... May ..................... June ....................

19.08 15.93 14.70 15.72 18.52 19.10

13.00 13.00 13.00 13.00 13.87 14.00

15.02 14.79 13.36 13.69 16.30 14.73

14.08 14.05 12.81 13.45 15.29 14.09

20.16 19.43 18.05 17.15 19.61 20.03

14.08 14.57 13.71 14.32 16.20 14.86

12.57 13.19 13.12 13.68 14.10 13.47

12.81 13.35 13.33 13.88 14.32 13.75

15.03 15.37 15.34 15.56 15.95 15.80

9.66 10.09 10.16 10.62 10.77 10.67

14.90 15.13 15.40 15.58 16.40 16.70

962.14 945.51 987.18 1 004.86 979.53 996.27

132.97 128.40 133.19 134.43 131.73 132.28

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

19.04 17.82 15.87 15.08 13.31 12.37

14.00 14.00 14.00 14.00 13.03 12.10

14.95 15.51 14.70 13.54 10.86 10.85

14.74 15.52 14.92 13.82 11.30 11.52

20.39 20.50 20.08 18.45 16.84 15.75

15.72 16.72 16.52 15.38 12.41 12.85

14.28 14.94 15.32 15.15 13.39 13.72

14.38 14.89 15.49 15.40 14.22 14.23

16.17 16.34 16.92 17.11 16.39 16.55

11.14 12.26 12.92 12.83 11.89 12.91

16.83 17.29 18.16 18.45 17.83 16.92

947.95 926.26 853.39 853.26 860.43 878.29

129.13 129.63 118.27 119.80 122.92 123.79

... ... ... ... ... ...

1982 January ............... February .............. March .................. April ..................... May ..................... June ....................

13.22 14.78 14.68 14.94 14.45 14.15

12.00 12.00 12.00 12.00 12.00 12.00

12.28 13.48 12.68 12.70 12.09 12.47

12.83 13.61 12.77 12.80 12.16 12.70

15.75 16.56 16.50 16.50 16.50 16.50

14.32 14.73 13.95 13.98 13.34 14.07

14.59 14.43 13.86 13.87 13.62 14.30

15.18 15.27 14.58 14.46 14.26 14.81

17.10 17.18 16.82 16.78 16.64 16.92

13.28 12.97 12.82 12.58 11.95 12.44

17.40 17.60 17.16 16.89 16.68 16.70

853.42 833.16 812.34 844.93 846.74 804.37

117.28 114.50 110.84 116.31 116.35 109.70

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

12.59 10.12 10.31 9.71 9.20 8.95

11.81 10.68 10.00 9.68 9.35 8.73

11.35 8.68 7.92 7.71 8.07 7.94

11.88 9.88 9.37 8.29 8.34 8.16

16.26 14.39 13.50 12.52 11.85 11.50

13.24 11.43 10.85 9.32 9.16 8.91

13.95 13.06 12.34 10.91 10.55 10.54

14.61 13.71 12.94 12.12 11.68 11.83

16.80 16.32 15.63 14.73 14.30 14.14

12.28 11.23 10.66 9.68 10.06 9.96

16.82 16.27 15.43 14.61 13.83 13.62

818.41 832.11 917.27 988.73 1 027.76 1 033.10

109.38 109.65 122.43 132.66 138.10 139.37

... ... ... ... ... ...

1983 January ............... February .............. March .................. April ..................... May ..................... June ....................

8.68 8.51 8.77 8.80 8.63 8.98

8.50 8.50 8.50 8.50 8.50 8.50

7.86 8.11 8.35 8.21 8.19 8.79

7.93 8.23 8.37 8.30 8.22 8.89

11.16 10.98 10.50 10.50 10.50 10.50

8.62 8.92 9.04 8.98 8.90 9.66

10.46 10.72 10.51 10.40 10.38 10.85

11.79 12.01 11.73 11.51 11.46 11.74

13.94 13.95 13.61 13.29 13.09 13.37

9.50 9.58 9.20 9.04 9.11 9.52

13.25 13.04 12.80 12.78 12.63 12.87

1 064.31 1 087.40 1 129.58 1 168.43 1 212.86 1 221.47

144.27 146.80 151.88 157.71 164.10 166.39

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

9.37 9.56 9.45 9.48 9.34 9.47

8.50 8.50 8.50 8.50 8.50 8.50

9.08 9.34 9.00 8.64 8.76 9.00

9.26 9.51 9.15 8.83 8.93 9.17

10.50 10.89 11.00 11.00 11.00 11.00

10.20 10.53 10.16 9.81 9.94 10.11

11.38 11.85 11.65 11.54 11.69 11.83

12.15 12.51 12.37 12.25 12.41 12.57

13.39 13.64 13.55 13.46 13.61 13.75

9.53 9.72 9.58 9.66 9.74 9.89

13.42 13.81 13.73 13.54 13.44 13.42

1 213.94 1 189.22 1 237.04 1 252.20 1 250.00 1 257.65

166.96 162.42 167.16 167.65 165.23 164.36

... ... ... ... ... ...

1984 January ............... February .............. March .................. April ..................... May ..................... June ....................

9.56 9.59 9.91 10.29 10.32 11.06

8.50 8.50 8.50 8.87 9.00 9.00

8.90 9.09 9.52 9.69 9.83 9.87

9.01 9.18 9.66 9.84 10.31 10.51

11.00 11.00 11.21 11.93 12.39 12.60

9.90 10.04 10.59 10.90 11.66 12.08

11.67 11.84 12.32 12.63 13.41 13.56

12.20 12.08 12.57 12.81 13.28 13.55

13.65 13.59 13.99 14.31 14.74 15.05

9.63 9.64 9.94 9.96 10.49 10.67

13.37 13.23 13.39 13.65 13.94 14.42

1 258.89 1 164.45 1 161.98 1 152.72 1 143.42 1 121.14

166.39 157.25 157.44 157.60 156.55 153.12

... ... ... ... ... ...

July ...................... August ................. September .......... October ............... November ........... December ...........

11.23 11.64 11.30 9.99 9.43 8.38

9.00 9.00 9.00 9.00 8.83 8.37

10.12 10.47 10.37 9.74 8.61 8.06

10.52 10.61 10.47 9.87 8.81 8.28

13.00 13.00 12.97 12.58 11.77 11.06

12.03 11.82 11.58 10.90 9.82 9.33

13.36 12.72 12.52 12.16 11.57 11.50

13.44 12.87 12.66 12.63 12.29 12.13

15.15 14.63 14.35 13.94 13.48 13.40

10.42 9.99 10.10 10.25 10.17 9.95

14.67 14.47 14.35 14.13 13.64 13.18

1 113.29 1 212.82 1 213.52 1 199.30 1 211.31 1 188.96

151.08 164.42 166.11 164.82 166.27 164.48

... ... ... ... 247.00 242.53

1985 January ............... February .............. March .................. April ..................... May ..................... June ....................

8.35 8.50 8.58 8.27 7.97 7.53

8.00 8.00 8.00 8.00 7.81 7.50

7.76 8.27 8.52 7.95 7.48 6.95

8.00 8.39 8.90 8.23 7.65 7.09

10.61 10.50 10.50 10.50 10.31 9.78

9.02 9.29 9.86 9.14 8.46 7.80

11.38 11.51 11.86 11.43 10.85 10.16

12.08 12.13 12.56 12.23 11.72 10.94

13.26 13.23 13.69 13.51 13.15 12.40

9.51 9.65 9.77 9.42 9.01 8.69

13.08 12.92 13.17 13.20 12.91 12.22

1 238.16 1 283.23 1 268.84 1 266.38 1 279.41 1 314.00

171.61 180.88 179.42 180.62 184.90 188.89

260.85 285.52 280.43 280.90 287.51 290.45

July ...................... August ................. September .......... October ............... November ........... December ...........

7.88 7.90 7.92 7.99 8.05 8.27

7.50 7.50 7.50 7.50 7.50 7.50

7.08 7.14 7.10 7.16 7.24 7.10

7.20 7.32 7.27 7.33 7.30 7.14

9.50 9.50 9.50 9.50 9.50 9.50

7.86 8.05 8.07 8.01 7.88 7.67

10.31 10.33 10.37 10.24 9.78 9.26

10.97 11.05 11.07 11.02 10.55 10.16

12.43 12.50 12.48 12.36 11.99 11.58

8.81 9.08 9.27 9.08 8.54 8.42

12.03 12.19 12.19 12.14 11.78 11.26

1 343.17 1 326.19 1 317.95 1 351.58 1 432.89 1 517.02

192.54 188.31 184.06 186.18 197.45 207.26

302.04 298.25 287.94 285.37 304.36 320.24

1986 January ............... February .............. March .................. April ..................... May ..................... June ....................

8.14 7.86 7.48 6.99 6.85 6.92

7.50 7.50 7.10 6.83 6.50 6.50

7.07 7.06 6.56 6.06 6.15 6.21

7.16 7.11 6.57 6.08 6.19 6.27

9.50 9.50 9.10 8.83 8.50 8.50

7.73 7.61 7.03 6.44 6.65 6.73

9.19 8.70 7.78 7.30 7.71 7.80

10.05 9.67 9.00 8.79 9.09 9.13

11.44 11.11 10.50 10.19 10.29 10.34

8.08 7.44 7.08 7.19 7.54 7.87

10.88 10.71 10.08 9.94 10.14 10.68

1 534.85 1 652.74 1 757.36 1 807.06 1 801.81 1 867.71

208.19 219.37 232.33 237.98 238.46 245.30

328.54 348.79 368.28 382.54 388.49 398.60

July ...................... August ................. September .......... October ............... November ........... December ...........

6.56 6.17 5.89 5.85 6.04 6.91

6.16 5.82 5.50 5.50 5.50 5.50

5.83 5.53 5.21 5.18 5.35 5.53

5.86 5.55 5.35 5.26 5.41 5.55

8.16 7.90 7.50 7.50 7.50 7.50

6.27 5.93 5.77 5.72 5.80 5.87

7.30 7.17 7.45 7.43 7.25 7.11

8.88 8.72 8.89 8.86 8.68 8.49

10.16 10.18 10.20 10.24 10.07 9.97

7.51 7.21 7.11 7.08 6.84 6.87

10.51 10.20 10.01 9.97 9.70 9.31

1 809.92 1 843.45 1 813.48 1 817.06 1 883.65 1 924.09

240.18 245.00 238.27 237.36 245.09 248.61

385.90 375.62 358.26 355.05 358.08 354.90

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

500

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1987 January ............... February .............. March .................. April ..................... May ..................... June ....................

6.43 6.10 6.13 6.37 6.85 6.73

5.50 5.50 5.50 5.50 5.50 5.50

5.43 5.59 5.59 5.64 5.66 5.67

5.44 5.59 5.60 5.90 6.05 5.99

7.50 7.50 7.50 7.75 8.14 8.25

5.78 5.96 6.03 6.50 7.00 6.80

7.08 7.25 7.25 8.02 8.61 8.40

8.36 8.38 8.36 8.85 9.33 9.32

9.72 9.65 9.61 10.04 10.51 10.52

6.66 6.61 6.65 7.55 8.00 7.79

9.20 9.08 9.04 9.83 10.60 10.54

2 065.13 2 202.34 2 292.61 2 302.66 2 291.12 2 384.02

264.51 280.93 292.47 289.32 289.12 301.38

384.24 411.71 432.19 422.75 416.64 423.70

July ...................... August ................. September .......... October ............... November ........... December ...........

6.58 6.73 7.22 7.29 6.69 6.77

5.50 5.50 5.95 6.00 6.00 6.00

5.69 6.04 6.40 6.13 5.69 5.77

5.76 6.15 6.64 6.69 6.19 6.36

8.25 8.25 8.70 9.07 8.78 8.75

6.68 7.03 7.67 7.59 6.96 7.17

8.45 8.76 9.42 9.52 8.86 8.99

9.42 9.67 10.18 10.52 10.01 10.11

10.61 10.80 11.31 11.62 11.23 11.29

7.72 7.82 8.26 8.70 7.95 7.96

10.28 10.33 10.89 11.26 10.65 10.65

2 481.73 2 655.02 2 570.81 2 224.58 1 931.88 1 910.07

310.09 329.36 318.66 280.16 245.01 240.96

429.01 448.45 442.82 385.05 318.76 314.55

1988 January ............... February .............. March .................. April ..................... May ..................... June ....................

6.83 6.58 6.58 6.87 7.09 7.51

6.00 6.00 6.00 6.00 6.00 6.00

5.81 5.66 5.70 5.91 6.26 6.46

6.25 5.93 5.91 6.21 6.56 6.71

8.75 8.51 8.50 8.50 8.84 9.00

6.99 6.64 6.71 7.01 7.40 7.49

8.67 8.21 8.37 8.72 9.09 8.92

9.88 9.40 9.39 9.67 9.90 9.86

11.07 10.62 10.57 10.90 11.04 11.00

7.69 7.49 7.74 7.81 7.91 7.78

10.43 9.89 9.93 10.20 10.46 10.46

1 947.35 1 980.65 2 044.32 2 036.14 1 988.91 2 104.95

250.48 258.13 265.74 262.61 256.12 270.68

339.29 353.58 375.55 377.23 371.88 385.99

July ...................... August ................. September .......... October ............... November ........... December ...........

7.75 8.01 8.19 8.30 8.35 8.76

6.00 6.37 6.50 6.50 6.50 6.50

6.73 7.06 7.24 7.35 7.76 8.07

6.99 7.39 7.43 7.50 7.86 8.22

9.29 9.84 10.00 10.00 10.05 10.50

7.75 8.17 8.09 8.11 8.48 8.99

9.06 9.26 8.98 8.80 8.96 9.11

9.96 10.11 9.82 9.51 9.45 9.57

11.11 11.21 10.90 10.41 10.48 10.65

7.76 7.79 7.66 7.46 7.46 7.61

10.43 10.60 10.48 10.30 10.27 10.61

2 104.23 2 051.28 2 080.07 2 144.33 2 099.04 2 148.59

269.05 263.73 267.97 277.40 271.02 276.51

391.43 379.60 382.17 385.02 372.90 375.80

1989 January ............... February .............. March .................. April ..................... May ..................... June ....................

9.12 9.36 9.85 9.84 9.81 9.53

6.50 6.59 7.00 7.00 7.00 7.00

8.27 8.53 8.82 8.65 8.43 8.15

8.36 8.55 8.85 8.65 8.41 7.93

10.50 10.93 11.50 11.50 11.50 11.07

9.05 9.25 9.57 9.36 8.98 8.44

9.09 9.17 9.36 9.18 8.86 8.28

9.62 9.64 9.80 9.79 9.57 9.10

10.65 10.61 10.67 10.61 10.46 10.03

7.35 7.44 7.59 7.49 7.25 7.02

10.73 10.65 11.03 11.05 10.77 10.20

2 234.68 2 304.31 2 283.10 2 348.92 2 439.57 2 494.89

285.41 294.01 292.71 302.25 313.93 323.73

389.33 404.09 404.00 417.14 435.99 447.63

July ...................... August ................. September .......... October ............... November ........... December ...........

9.24 8.99 9.02 8.84 8.55 8.45

7.00 7.00 7.00 7.00 7.00 7.00

7.88 7.90 7.75 7.64 7.69 7.63

7.61 7.74 7.74 7.62 7.49 7.42

10.98 10.50 10.50 10.50 10.50 10.50

7.89 8.18 8.22 7.99 7.77 7.72

8.02 8.11 8.19 8.01 7.87 7.84

8.93 8.96 9.01 8.92 8.89 8.86

9.87 9.88 9.91 9.81 9.81 9.82

6.96 7.06 7.26 7.22 7.14 6.98

9.88 9.99 10.13 9.95 9.77 9.74

2 554.04 2 691.12 2 693.41 2 692.01 2 642.50 2 728.47

331.93 346.61 347.33 347.40 340.22 348.57

446.70 461.83 469.28 469.69 454.69 449.02

1990 January ............... February .............. March .................. April ..................... May ..................... June ....................

8.23 8.24 8.28 8.26 8.18 8.29

7.00 7.00 7.00 7.00 7.00 7.00

7.64 7.74 7.90 7.77 7.74 7.73

7.55 7.70 7.85 7.84 7.76 7.63

10.11 10.00 10.00 10.00 10.00 10.00

7.92 8.11 8.35 8.40 8.32 8.10

8.21 8.47 8.59 8.79 8.76 8.48

8.99 9.22 9.37 9.46 9.47 9.26

9.94 10.14 10.21 10.30 10.41 10.22

7.10 7.22 7.29 7.39 7.35 7.24

9.90 10.20 10.27 10.37 10.48 10.16

2 679.24 2 614.19 2 700.13 2 708.27 2 793.82 2 894.84

339.97 330.45 338.47 338.18 350.25 360.39

439.35 424.53 436.10 429.00 442.60 462.31

July ...................... August ................. September .......... October ............... November ........... December ...........

8.15 8.13 8.20 8.11 7.81 7.31

7.00 7.00 7.00 7.00 7.00 6.79

7.62 7.45 7.36 7.17 7.06 6.74

7.52 7.38 7.32 7.16 7.03 6.70

10.00 10.00 10.00 10.00 10.00 10.00

7.94 7.78 7.76 7.55 7.31 7.05

8.47 8.75 8.89 8.72 8.39 8.08

9.24 9.41 9.56 9.53 9.30 9.05

10.20 10.41 10.64 10.74 10.62 10.43

7.19 7.32 7.43 7.49 7.18 7.09

10.04 10.10 10.18 10.18 10.01 9.67

2 934.23 2 681.89 2 550.69 2 460.54 2 518.58 2 610.92

360.03 330.75 315.41 307.12 315.29 328.75

455.83 396.33 368.57 338.02 347.72 370.21

1991 January ............... February .............. March .................. April ..................... May ..................... June ....................

6.91 6.25 6.12 5.91 5.78 5.90

6.50 6.00 6.00 5.98 5.50 5.50

6.22 5.94 5.91 5.65 5.46 5.57

6.28 5.93 5.92 5.71 5.61 5.75

9.52 9.05 9.00 9.00 8.50 8.50

6.64 6.27 6.40 6.24 6.13 6.36

8.09 7.85 8.11 8.04 8.07 8.28

9.04 8.83 8.93 8.86 8.86 9.01

10.45 10.07 10.09 9.94 9.86 9.96

7.08 6.91 7.10 7.02 6.95 7.13

9.64 9.37 9.50 9.49 9.47 9.62

2 587.60 2 863.05 2 920.12 2 925.55 2 928.43 2 968.14

325.49 362.26 372.28 379.68 377.99 378.29

376.67 442.59 469.10 496.32 490.93 490.38

July ...................... August ................. September .......... October ............... November ........... December ...........

5.82 5.66 5.45 5.21 4.81 4.43

5.50 5.50 5.20 5.00 4.58 4.11

5.58 5.33 5.22 4.99 4.56 4.07

5.70 5.39 5.25 5.04 4.61 4.10

8.50 8.50 8.20 8.00 7.58 7.21

6.31 5.78 5.57 5.33 4.89 4.38

8.27 7.90 7.65 7.53 7.42 7.09

9.00 8.75 8.61 8.55 8.48 8.31

9.89 9.65 9.51 9.49 9.45 9.26

7.05 6.90 6.80 6.68 6.73 6.69

9.58 9.24 9.01 8.86 8.71 8.50

2 978.19 3 006.09 3 010.36 3 019.74 2 986.13 2 958.66

380.23 389.40 387.20 386.88 385.92 388.51

489.37 513.25 520.56 528.92 536.58 544.10

1992 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.03 4.06 3.98 3.73 3.82 3.76

3.50 3.50 3.50 3.50 3.50 3.50

3.80 3.84 4.04 3.75 3.63 3.66

3.87 3.93 4.18 3.87 3.75 3.77

6.50 6.50 6.50 6.50 6.50 6.50

4.15 4.29 4.63 4.30 4.19 4.17

7.03 7.34 7.54 7.48 7.39 7.26

8.20 8.29 8.35 8.33 8.28 8.22

9.13 9.23 9.25 9.21 9.13 9.05

6.54 6.74 6.76 6.67 6.57 6.49

8.43 8.76 8.94 8.85 8.67 8.51

3 227.06 3 257.27 3 247.42 3 294.10 3 376.79 3 337.79

416.08 412.56 407.36 407.41 414.81 408.27

615.73 632.05 619.60 582.79 581.47 566.66

July ...................... August ................. September .......... October ............... November ........... December ...........

3.25 3.30 3.22 3.10 3.09 2.92

3.02 3.00 3.00 3.00 3.00 3.00

3.21 3.13 2.91 2.86 3.13 3.22

3.28 3.21 2.96 3.04 3.34 3.36

6.02 6.00 6.00 6.00 6.00 6.00

3.60 3.47 3.18 3.30 3.68 3.71

6.84 6.59 6.42 6.59 6.87 6.77

8.07 7.95 7.92 7.99 8.10 7.98

8.84 8.65 8.62 8.84 8.96 8.81

6.13 6.16 6.25 6.41 6.36 6.22

8.13 7.98 7.92 8.09 8.31 8.22

3 329.41 3 307.46 3 293.93 3 198.70 3 238.49 3 303.15

415.05 417.93 418.48 412.50 422.84 435.64

568.72 569.00 580.68 585.01 630.86 661.28

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1993 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.02 3.03 3.07 2.96 3.00 3.04

3.00 3.00 3.00 3.00 3.00 3.00

3.00 2.93 2.95 2.87 2.96 3.07

3.14 3.07 3.05 2.97 3.07 3.20

6.00 6.00 6.00 6.00 6.00 6.00

3.50 3.39 3.33 3.24 3.36 3.54

6.60 6.26 5.98 5.97 6.04 5.96

7.91 7.71 7.58 7.46 7.43 7.33

8.67 8.39 8.15 8.14 8.21 8.07

6.16 5.87 5.64 5.76 5.73 5.63

8.02 7.68 7.50 7.47 7.47 7.42

3 277.73 3 367.26 3 440.73 3 423.62 3 478.18 3 513.81

435.23 441.70 450.16 443.08 445.25 448.06

691.13 681.71 684.49 665.33 686.45 695.38

July ...................... August ................. September .......... October ............... November ........... December ...........

3.06 3.03 3.09 2.99 3.02 2.96

3.00 3.00 3.00 3.00 3.00 3.00

3.04 3.02 2.95 3.02 3.10 3.06

3.16 3.14 3.06 3.12 3.26 3.23

6.00 6.00 6.00 6.00 6.00 6.00

3.47 3.44 3.36 3.39 3.58 3.61

5.81 5.68 5.36 5.33 5.72 5.77

7.17 6.85 6.66 6.67 6.93 6.93

7.93 7.60 7.34 7.31 7.66 7.69

5.57 5.45 5.29 5.25 5.47 5.35

7.21 7.11 6.92 6.83 7.16 7.17

3 529.44 3 597.03 3 592.29 3 625.81 3 674.71 3 744.10

447.29 454.13 459.24 463.90 462.89 465.95

703.40 725.15 745.94 771.31 764.04 762.94

1994 January ............... February .............. March .................. April ..................... May ..................... June ....................

3.05 3.25 3.34 3.56 4.01 4.25

3.00 3.00 3.00 3.00 3.24 3.50

2.98 3.25 3.50 3.68 4.14 4.14

3.15 3.43 3.78 4.09 4.60 4.55

6.00 6.00 6.06 6.45 6.99 7.25

3.54 3.87 4.32 4.82 5.31 5.27

5.75 5.97 6.48 6.97 7.18 7.10

6.92 7.08 7.48 7.88 7.99 7.97

7.65 7.76 8.13 8.52 8.62 8.65

5.31 5.40 5.91 6.23 6.19 6.11

7.06 7.15 7.68 8.32 8.60 8.40

3 868.37 3 905.62 3 816.99 3 661.49 3 708.00 3 737.58

472.99 471.58 463.81 447.23 450.90 454.83

787.77 787.81 785.93 732.30 727.76 723.21

July ...................... August ................. September .......... October ............... November ........... December ...........

4.26 4.47 4.73 4.76 5.29 5.45

3.50 3.76 4.00 4.00 4.40 4.75

4.33 4.48 4.62 4.95 5.29 5.60

4.75 4.88 5.04 5.39 5.72 6.21

7.25 7.51 7.75 7.75 8.15 8.50

5.48 5.56 5.76 6.11 6.54 7.14

7.30 7.24 7.46 7.74 7.96 7.81

8.11 8.07 8.34 8.57 8.68 8.46

8.80 8.74 8.98 9.20 9.32 9.10

6.23 6.21 6.28 6.52 6.97 6.80

8.61 8.51 8.64 8.93 9.17 9.20

3 718.31 3 797.48 3 880.60 3 868.10 3 792.44 3 770.30

451.40 464.24 466.96 463.81 461.01 455.19

713.49 738.87 763.94 762.46 760.42 734.96

1995 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.53 5.92 5.98 6.05 6.01 6.00

4.75 5.25 5.25 5.25 5.25 5.25

5.71 5.77 5.73 5.65 5.67 5.47

6.21 6.03 5.89 5.77 5.67 5.42

8.50 9.00 9.00 9.00 9.00 9.00

7.05 6.70 6.43 6.27 6.00 5.64

7.78 7.47 7.20 7.06 6.63 6.17

8.46 8.26 8.12 8.03 7.65 7.30

9.08 8.85 8.70 8.60 8.20 7.90

6.53 6.22 6.10 6.02 5.95 5.84

9.15 8.83 8.46 8.32 7.96 7.57

3 872.46 3 953.73 4 062.78 4 230.67 4 391.58 4 510.77

465.25 481.92 493.15 507.91 523.81 539.35

758.01 784.24 807.16 825.34 859.77 906.04

July ...................... August ................. September .......... October ............... November ........... December ...........

5.85 5.74 5.80 5.76 5.80 5.60

5.25 5.25 5.25 5.25 5.25 5.25

5.42 5.40 5.28 5.28 5.36 5.14

5.37 5.41 5.30 5.32 5.27 5.13

8.80 8.75 8.75 8.75 8.75 8.65

5.59 5.75 5.62 5.59 5.43 5.31

6.28 6.49 6.20 6.04 5.93 5.71

7.41 7.57 7.32 7.12 7.02 6.82

8.04 8.19 7.93 7.75 7.68 7.49

5.92 6.06 5.91 5.80 5.64 5.45

7.61 7.86 7.64 7.48 7.38 7.20

4 684.78 4 639.27 4 746.76 4 760.48 4 935.82 5 136.11

557.37 559.11 578.77 582.92 595.53 614.57

979.36 1 009.59 1 051.00 1 022.15 1 046.64 1 047.04

1996 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.56 5.22 5.31 5.22 5.24 5.27

5.24 5.00 5.00 5.00 5.00 5.00

5.00 4.83 4.96 4.95 5.02 5.09

4.92 4.77 4.96 5.06 5.12 5.25

8.50 8.25 8.25 8.25 8.25 8.25

5.09 4.94 5.34 5.54 5.64 5.81

5.65 5.81 6.27 6.51 6.74 6.91

6.81 6.99 7.35 7.50 7.62 7.71

7.47 7.63 8.03 8.19 8.30 8.40

5.43 5.43 5.79 5.94 5.98 6.02

7.03 7.08 7.62 7.93 8.07 8.32

5 179.38 5 518.74 5 612.25 5 579.86 5 616.71 5 671.52

614.42 649.54 647.07 647.17 661.23 668.50

1 024.95 1 094.02 1 092.65 1 135.63 1 220.54 1 205.08

July ...................... August ................. September .......... October ............... November ........... December ...........

5.40 5.22 5.30 5.24 5.31 5.29

5.00 5.00 5.00 5.00 5.00 5.00

5.15 5.05 5.09 4.99 5.03 4.91

5.30 5.13 5.24 5.11 5.07 5.04

8.25 8.25 8.25 8.25 8.25 8.25

5.85 5.67 5.83 5.55 5.42 5.47

6.87 6.64 6.83 6.53 6.20 6.30

7.65 7.46 7.66 7.39 7.10 7.20

8.35 8.18 8.35 8.07 7.79 7.89

5.92 5.76 5.87 5.72 5.59 5.64

8.25 8.00 8.23 7.92 7.62 7.60

5 496.27 5 685.51 5 804.01 5 996.22 6 318.36 6 435.87

644.07 662.68 674.88 701.45 735.67 743.25

1 105.61 1 134.25 1 186.44 1 234.04 1 259.83 1 292.15

1997 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.25 5.19 5.39 5.51 5.50 5.56

5.00 5.00 5.00 5.00 5.00 5.00

5.03 5.01 5.14 5.16 5.05 4.93

5.10 5.06 5.26 5.37 5.30 5.13

8.25 8.25 8.30 8.50 8.50 8.50

5.61 5.53 5.80 5.99 5.87 5.69

6.58 6.42 6.69 6.89 6.71 6.49

7.42 7.31 7.55 7.73 7.58 7.41

8.09 7.94 8.18 8.34 8.20 8.02

5.72 5.63 5.76 5.88 5.70 5.53

7.82 7.65 7.90 8.14 7.94 7.69

6 707.05 6 917.46 6 901.14 6 657.51 7 242.33 7 599.61

766.22 798.39 792.16 763.93 833.09 876.29

1 345.41 1 349.17 1 282.86 1 225.00 1 352.56 1 422.45

July ...................... August ................. September .......... October ............... November ........... December ...........

5.52 5.54 5.54 5.50 5.52 5.50

5.00 5.00 5.00 5.00 5.00 5.00

5.05 5.14 4.95 4.97 5.14 5.16

5.12 5.19 5.09 5.09 5.17 5.24

8.50 8.50 8.50 8.50 8.50 8.50

5.54 5.56 5.52 5.46 5.46 5.53

6.22 6.30 6.21 6.03 5.88 5.81

7.14 7.22 7.15 7.00 6.87 6.76

7.75 7.82 7.70 7.57 7.42 7.32

5.35 5.41 5.39 5.38 5.33 5.19

7.50 7.48 7.43 7.29 7.21 7.10

7 990.65 7 948.42 7 866.59 7 875.82 7 677.35 7 909.82

925.29 927.74 937.02 951.16 938.92 962.37

1 531.14 1 596.74 1 660.15 1 682.17 1 600.97 1 567.00

1998 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.56 5.51 5.49 5.45 5.49 5.56

5.00 5.00 5.00 5.00 5.00 5.00

5.04 5.09 5.03 4.95 5.00 4.98

5.03 5.07 5.04 5.06 5.14 5.12

8.50 8.50 8.50 8.50 8.50 8.50

5.24 5.31 5.39 5.38 5.44 5.41

5.54 5.57 5.65 5.64 5.65 5.50

6.61 6.67 6.72 6.69 6.69 6.53

7.19 7.25 7.32 7.33 7.30 7.13

5.06 5.10 5.21 5.23 5.20 5.12

6.99 7.04 7.13 7.14 7.14 7.00

7 808.36 8 323.62 8 709.48 9 037.43 9 080.09 8 872.96

963.36 1 023.74 1 076.83 1 112.20 1 108.42 1 108.39

1 570.23 1 714.87 1 781.27 1 852.30 1 836.39 1 795.74

July ...................... August ................. September .......... October ............... November ........... December ...........

5.54 5.55 5.51 5.07 4.83 4.68

5.00 5.00 5.00 4.86 4.63 4.50

4.96 4.90 4.61 3.96 4.41 4.39

5.03 4.95 4.63 4.05 4.42 4.40

8.50 8.50 8.49 8.12 7.89 7.75

5.36 5.21 4.71 4.12 4.53 4.52

5.46 5.34 4.81 4.53 4.83 4.65

6.55 6.52 6.40 6.37 6.41 6.22

7.15 7.14 7.09 7.18 7.34 7.23

5.14 5.10 4.99 4.93 5.03 4.98

6.95 6.92 6.72 6.71 6.87 6.72

9 097.15 8 478.54 7 909.80 8 164.47 9 005.78 9 018.68

1 156.58 1 074.63 1 020.64 1 032.47 1 144.43 1 190.05

1 941.58 1 784.75 1 663.43 1 615.69 1 888.72 2 071.03

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

501

502

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-6. Interest Rates, Bond Yields, and Stock Price Indexes—Continued (Not seasonally adjusted.) Percent per annum Short-term rates Year and month Federal funds

Federal Reserve discount rate 1

Stock price indexes

U.S. Treasury securities

U.S. Treasury bills, 3-month

U.S. Treasury bills, 6-month

Bank prime rate

Bond yields Domestic corporate (Moody’s)

1-year

10-year Aaa

Baa

Standard Dow State and Fixed-rate and Poor’s Jones local composite first industrials bonds (500 mortgages (30 stocks) (Bond stocks) 2 Buyer)

Nasdaq composite 3

1999 January ............... February .............. March .................. April ..................... May ..................... June ....................

4.63 4.76 4.81 4.74 4.74 4.76

4.50 4.50 4.50 4.50 4.50 4.50

4.34 4.44 4.44 4.29 4.50 4.57

4.33 4.44 4.47 4.37 4.56 4.82

7.75 7.75 7.75 7.75 7.75 7.75

4.51 4.70 4.78 4.69 4.85 5.10

4.72 5.00 5.23 5.18 5.54 5.90

6.24 6.40 6.62 6.64 6.93 7.23

7.29 7.39 7.53 7.48 7.72 8.02

5.01 5.03 5.10 5.08 5.18 5.37

6.79 6.81 7.04 6.92 7.15 7.55

9 345.86 9 322.94 9 753.64 10 443.50 10 853.88 10 704.03

1 248.77 1 246.58 1 281.66 1 334.76 1 332.07 1 322.55

2 357.80 2 356.99 2 391.14 2 537.89 2 512.60 2 520.96

July ...................... August ................. September .......... October ............... November ........... December ...........

4.99 5.07 5.22 5.20 5.42 5.30

4.50 4.56 4.75 4.75 4.86 5.00

4.55 4.72 4.68 4.86 5.07 5.20

4.58 4.87 4.88 4.98 5.20 5.44

8.00 8.06 8.25 8.25 8.37 8.50

5.03 5.20 5.25 5.43 5.55 5.84

5.79 5.94 5.92 6.11 6.03 6.28

7.19 7.40 7.39 7.55 7.36 7.55

7.95 8.15 8.20 8.38 8.15 8.19

5.36 5.58 5.69 5.92 5.86 5.95

7.63 7.94 7.82 7.85 7.74 7.91

11 052.22 10 935.48 10 714.03 10 396.89 10 809.80 11 246.37

1 380.99 1 327.49 1 318.17 1 300.01 1 391.00 1 428.68

2 741.26 2 642.45 2 807.95 2 815.28 3 230.55 3 739.88

2000 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.45 5.73 5.85 6.02 6.27 6.53

5.00 5.24 5.34 5.50 5.71 6.00

5.32 5.55 5.69 5.66 5.79 5.69

5.50 5.72 5.85 5.81 6.10 5.97

8.50 8.73 8.83 9.00 9.24 9.50

6.12 6.22 6.22 6.15 6.33 6.17

6.66 6.52 6.26 5.99 6.44 6.10

7.78 7.68 7.68 7.64 7.99 7.67

8.33 8.29 8.37 8.40 8.90 8.48

6.08 6.00 5.83 5.75 6.00 5.80

8.21 8.33 8.24 8.15 8.52 8.29

11 281.27 10 541.93 10 483.38 10 944.32 10 580.28 10 582.93

1 425.59 1 388.87 1 442.21 1 461.36 1 418.48 1 461.96

4 013.49 4 410.87 4 802.99 3 863.64 3 528.42 3 865.48

July ...................... August ................. September .......... October ............... November ........... December ...........

6.54 6.50 6.52 6.51 6.51 6.40

6.00 6.00 6.00 6.00 6.00 6.00

5.96 6.09 6.00 6.11 6.17 5.77

6.00 6.07 5.98 6.04 6.06 5.68

9.50 9.50 9.50 9.50 9.50 9.50

6.08 6.18 6.13 6.01 6.09 5.60

6.05 5.83 5.80 5.74 5.72 5.24

7.65 7.55 7.62 7.55 7.45 7.21

8.35 8.26 8.35 8.34 8.28 8.02

5.63 5.51 5.56 5.59 5.54 5.22

8.15 8.03 7.91 7.80 7.75 7.38

10 662.98 11 014.51 10 967.88 10 440.96 10 666.08 10 652.52

1 473.00 1 485.46 1 468.05 1 390.14 1 375.04 1 330.93

4 017.69 3 909.60 3 875.82 3 333.82 3 055.42 2 657.81

2001 January ............... February .............. March .................. April ..................... May ..................... June ....................

5.98 5.49 5.31 4.80 4.21 3.97

5.52 5.00 4.81 4.28 3.73 3.47

5.15 4.88 4.42 3.87 3.62 3.49

4.95 4.71 4.28 3.85 3.62 3.45

9.05 8.50 8.32 7.80 7.24 6.98

4.81 4.68 4.30 3.98 3.78 3.58

5.16 5.10 4.89 5.14 5.39 5.28

7.15 7.10 6.98 7.20 7.29 7.18

7.93 7.87 7.84 8.07 8.07 7.97

5.10 5.18 5.13 5.27 5.29 5.20

7.03 7.05 6.95 7.08 7.15 7.16

10 682.76 10 774.58 10 081.33 10 234.52 11 004.95 10 767.19

1 335.63 1 305.75 1 185.85 1 189.84 1 270.37 1 238.71

2 656.86 2 449.57 1 986.66 1 933.93 2 181.13 2 112.05

July ...................... August ................. September .......... October ............... November ........... December ...........

3.77 3.65 3.07 2.49 2.09 1.82

3.25 3.16 2.77 2.02 1.58 1.33

3.51 3.36 2.64 2.16 1.87 1.69

3.45 3.29 2.63 2.12 1.88 1.78

6.75 6.67 6.28 5.53 5.10 4.84

3.62 3.47 2.82 2.33 2.18 2.22

5.24 4.97 4.73 4.57 4.65 5.09

7.13 7.02 7.17 7.03 6.97 6.77

7.97 7.85 8.03 7.91 7.81 8.05

5.20 5.03 5.09 5.05 5.04 5.25

7.13 6.95 6.82 6.62 6.66 7.07

10 444.50 10 314.70 9 042.57 9 220.75 9 721.83 9 979.89

1 204.45 1 178.50 1 044.64 1 076.59 1 129.68 1 144.93

2 033.98 1 929.71 1 573.31 1 656.43 1 870.06 1 977.71

2002 January ............... February .............. March .................. April ..................... May ..................... June ....................

1.73 1.74 1.73 1.75 1.75 1.75

1.25 1.25 1.25 1.25 1.25 1.25

1.65 1.73 1.79 1.72 1.73 1.70

1.73 1.82 2.01 1.93 1.86 1.79

4.75 4.75 4.75 4.75 4.75 4.75

2.16 2.23 2.57 2.48 2.35 2.20

5.04 4.91 5.28 5.21 5.16 4.93

6.55 6.51 6.81 6.76 6.75 6.63

7.87 7.89 8.11 8.03 8.09 7.95

5.16 5.11 5.29 5.22 5.19 5.09

7.00 6.89 7.01 6.99 6.81 6.65

9 923.80 9 891.05 10 500.95 10 165.18 10 080.48 9 492.44

1 140.21 1 100.67 1 153.79 1 112.03 1 079.27 1 014.05

1 976.77 1 799.72 1 863.05 1 758.80 1 660.31 1 505.49

July ...................... August ................. September .......... October ............... November ........... December ...........

1.73 1.74 1.75 1.75 1.34 1.24

1.25 1.25 1.25 1.25 0.83 0.75

1.68 1.62 1.63 1.58 1.23 1.19

1.70 1.60 1.60 1.56 1.27 1.24

4.75 4.75 4.75 4.75 4.35 4.25

1.96 1.76 1.72 1.65 1.49 1.45

4.65 4.26 3.87 3.94 4.05 4.03

6.53 6.37 6.15 6.32 6.31 6.21

7.90 7.58 7.40 7.73 7.62 7.45

5.02 4.95 4.74 4.88 4.95 4.85

6.49 6.29 6.09 6.11 6.07 6.05

8 616.52 8 685.48 8 160.78 8 048.12 8 625.72 8 526.66

903.59 912.55 867.81 854.63 909.93 899.18

1 346.09 1 327.36 1 251.07 1 241.91 1 409.15 1 387.15

2003 January ............... February .............. March .................. April ..................... May ..................... June ....................

1.24 1.26 1.25 1.26 1.26 1.22

... 2.25 2.25 2.25 2.25 2.20

1.17 1.17 1.13 1.13 1.07 0.92

1.20 1.18 1.13 1.14 1.08 0.92

4.25 4.25 4.25 4.25 4.25 4.22

1.36 1.30 1.24 1.27 1.18 1.01

4.05 3.90 3.81 3.96 3.57 3.33

6.17 5.95 5.89 5.74 5.22 4.97

7.35 7.06 6.95 6.85 6.38 6.19

4.90 4.81 4.76 4.74 4.41 4.33

5.92 5.84 5.75 5.81 5.48 5.23

8 474.59 7 916.18 7 977.73 8 332.09 8 623.41 9 098.07

895.84 837.62 846.62 890.03 935.96 988.00

1 389.56 1 313.26 1 348.50 1 409.83 1 524.18 1 631.75

July ...................... August ................. September .......... October ............... November ........... December ...........

1.01 1.03 1.01 1.01 1.00 0.98

2.00 2.00 2.00 2.00 2.00 2.00

0.90 0.95 0.94 0.92 0.93 0.90

0.95 1.03 1.01 1.00 1.02 0.99

4.00 4.00 4.00 4.00 4.00 4.00

1.12 1.31 1.24 1.25 1.34 1.31

3.98 4.45 4.27 4.29 4.30 4.27

5.49 5.88 5.72 5.70 5.65 5.62

6.62 7.01 6.79 6.73 6.66 6.60

4.74 5.10 4.92 4.89 4.73 4.65

5.63 6.26 6.15 5.95 5.93 5.88

9 154.39 9 284.78 9 492.54 9 682.46 9 762.20 10 124.66

992.54 989.53 1 019.44 1 038.73 1 049.90 1 080.64

1 716.85 1 724.82 1 856.22 1 907.89 1 939.25 1 956.98

2004 January ............... February .............. March .................. April ..................... May ..................... June ....................

1.00 1.01 1.00 1.00 1.00 1.03

2.00 2.00 2.00 2.00 2.00 2.01

0.88 0.93 0.94 0.94 1.02 1.27

0.97 0.99 0.99 1.09 1.31 1.60

4.00 4.00 4.00 4.00 4.00 4.01

1.24 1.24 1.19 1.43 1.78 2.12

4.15 4.08 3.83 4.35 4.72 4.73

5.54 5.50 5.33 5.73 6.04 6.01

6.44 6.27 6.11 6.46 6.75 6.78

4.61 4.55 4.41 4.82 5.07 5.05

5.74 5.64 5.45 5.83 6.27 6.29

10 540.05 10 601.50 10 323.73 10 418.40 10 083.81 10 364.90

1 132.52 1 143.36 1 123.98 1 133.08 1 102.78 1 132.76

2 098.00 2 048.36 1 979.48 2 021.32 1 930.09 2 000.98

July ...................... August ................. October ............... November ........... December ...........

1.26 1.43 1.76 1.93 2.16

2.25 2.43 2.75 2.93 3.15

1.33 1.48 1.76 2.07 2.19

1.66 1.72 2.00 2.27 2.43

4.25 4.43 4.75 4.93 5.15

2.10 2.02 2.23 2.50 2.67

4.50 4.28 4.10 4.19 4.23

5.82 5.65 5.47 5.52 5.47

6.62 6.46 6.21 6.20 6.15

4.87 4.70 4.49 4.52 4.48

6.06 5.87 5.72 5.73 5.75

10 152.09 10 032.80 10 001.60 10 411.76 10 673.38

1 105.85 1 088.94 1 118.07 1 168.94 1 199.21

1 912.42 1 821.54 1 938.25 2 062.87 2 149.53

1Federal Reserve Bank of 21941–1943 = 10. 3February 5, 1971 = 100.

. . . = Not available.

New York. Through 2002, represents the rate for adjustment credit. Beginning in 2003, represents the rate for primary credit. See notes and definitions.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

503

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1959 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

40.5 41.1 41.6 41.6 41.8 41.8

36.1 36.4 36.7 37.1 37.4 37.5

35.9 36.1 36.1 36.3 36.6 36.8

100.6 100.8 101.7 102.2 102.2 101.9

61.8 67.3 66.3 64.8 63.0 63.7

1.54 1.53 1.19 1.16 1.41 0.95

1 758.3 1 769.1 1 785.3 1 797.4 1 812.3 1 819.2

12.9 12.9 12.9 12.9 13.0 13.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

41.7 41.5 41.5 41.2 40.8 41.7

37.3 36.8 36.8 36.8 37.0 37.7

37.0 37.6 37.8 38.2 38.2 38.1

100.8 97.9 97.4 96.3 96.9 99.0

59.1 57.4 57.5 58.5 54.6 53.7

0.93 0.93 0.92 0.55 0.53 0.70

1 816.3 1 806.8 1 806.7 1 809.9 1 822.4 1 842.4

13.3 13.5 13.6 13.7 13.7 13.9

1960 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

41.5 41.2 40.7 40.9 40.8 40.9

38.0 38.0 37.9 38.1 37.9 37.7

37.9 38.2 38.5 38.6 38.9 39.3

100.3 99.5 98.4 98.7 97.4 95.9

46.2 31.7 28.8 28.9 32.3 34.8

0.73 0.52 0.41 0.36 0.50 0.83

1 852.5 1 853.2 1 854.0 1 859.4 1 863.6 1 862.1

13.8 13.9 13.9 14.1 14.1 14.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

40.9 41.0 41.0 40.9 40.8 40.9

37.7 37.7 37.6 37.6 37.4 37.1

39.4 39.3 39.3 39.3 39.4 39.6

95.7 95.9 95.7 95.7 94.9 93.7

35.8 38.0 37.3 36.2 37.6 40.4

0.67 0.82 1.20 1.42 1.49 1.86

1 863.1 1 859.8 1 860.4 1 865.8 1 854.1 1 841.8

14.2 14.3 14.3 14.3 14.4 14.5

1961 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

41.2 41.4 42.1 42.5 42.9 43.4

37.1 37.0 37.2 37.3 37.6 37.9

39.7 39.7 39.5 39.3 39.2 39.0

93.5 93.2 94.2 94.9 95.9 97.2

39.2 41.1 42.1 47.5 47.9 49.3

2.39 1.24 1.72 2.29 1.73 2.15

1 858.9 1 859.4 1 868.6 1 874.5 1 884.9 1 901.1

14.6 14.4 14.4 14.3 14.2 14.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

43.4 44.1 43.9 44.4 45.0 45.3

38.0 38.2 38.3 38.6 38.9 39.0

38.8 38.9 39.1 39.2 39.1 39.4

97.9 98.2 98.0 98.5 99.5 99.0

49.4 50.6 50.7 52.4 51.1 55.8

2.75 2.04 2.10 1.66 1.33 1.73

1 905.6 1 913.5 1 918.3 1 938.2 1 957.5 1 967.8

14.0 14.1 14.1 14.0 14.0 14.0

1962 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

45.3 45.7 45.8 45.7 45.4 45.2

39.0 39.2 39.4 39.6 39.6 39.6

39.6 39.6 39.9 40.0 40.2 40.4

98.5 99.0 98.7 99.0 98.5 98.0

57.1 56.2 57.0 47.4 45.2 43.3

1.93 1.67 1.08 1.06 1.51 1.23

1 963.7 1 974.0 1 987.8 1 998.9 2 001.9 2 007.6

14.0 14.0 14.0 14.1 14.2 14.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

45.5 45.6 45.8 46.0 46.6 46.6

39.8 39.8 40.0 40.0 40.2 40.1

40.5 40.7 40.8 40.9 41.0 41.1

98.3 97.8 98.0 97.8 98.0 97.6

45.1 43.7 45.1 46.7 48.7 50.1

1.30 1.05 1.08 1.03 0.98 0.93

2 015.4 2 017.1 2 019.9 2 024.0 2 035.9 2 046.1

14.3 14.4 14.4 14.5 14.5 14.6

1963 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

47.0 47.3 47.7 48.1 48.2 48.4

40.2 40.4 40.6 40.8 40.9 41.0

41.2 41.3 41.4 41.5 41.6 41.8

97.6 97.8 98.1 98.3 98.3 98.1

50.4 51.0 54.9 58.2 56.4 56.3

0.91 0.92 0.95 1.07 0.93 1.00

2 040.0 2 045.0 2 053.7 2 060.4 2 068.0 2 080.9

14.6 14.8 14.9 15.0 15.0 15.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

48.3 48.5 48.9 49.1 49.2 49.4

41.1 41.1 41.3 41.6 41.6 41.7

41.9 42.2 42.3 42.4 42.8 42.9

98.1 97.4 97.6 98.1 97.2 97.2

43.6 48.5 49.7 47.4 48.7 47.6

1.00 0.51 0.60 0.61 0.64 0.75

2 081.4 2 089.4 2 103.4 2 116.8 2 120.5 2 136.3

15.2 15.3 15.3 15.4 15.4 15.5

1964 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

49.7 50.0 50.2 50.4 50.8 50.9

41.9 42.1 42.2 42.4 42.7 42.7

42.9 43.1 43.2 43.5 43.4 43.5

97.7 97.7 97.7 97.5 98.4 98.2

55.3 51.9 60.3 57.7 61.4 57.6

0.69 0.67 0.79 0.76 0.70 0.67

2 137.9 2 156.5 2 166.4 2 180.2 2 194.6 2 203.9

15.6 15.6 15.7 15.8 15.8 15.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

51.3 51.5 52.0 51.9 52.2 52.4

42.9 43.1 43.4 43.2 43.6 44.0

43.5 43.9 44.1 44.3 44.2 44.4

98.6 98.2 98.4 97.5 98.6 99.1

61.8 66.2 71.9 71.2 70.3 67.8

0.77 0.69 0.75 0.83 0.63 0.33

2 212.7 2 230.2 2 239.2 2 241.2 2 256.0 2 277.8

16.0 16.0 16.1 16.2 16.1 16.1

1Not

seasonally adjusted.

504

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1965 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

52.9 52.9 53.2 53.3 53.5 53.5

44.2 44.3 44.7 44.9 45.0 45.2

44.7 45.1 45.2 45.5 45.8 45.9

98.9 98.2 98.9 98.7 98.3 98.5

68.5 68.1 65.9 69.4 68.9 69.3

0.29 0.23 0.17 0.11 0.11 0.17

2 281.5 2 293.2 2 304.1 2 313.6 2 327.4 2 333.8

16.2 16.4 16.4 16.6 16.6 16.7

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

53.6 53.7 53.9 54.4 54.9 55.3

45.5 45.7 45.8 46.2 46.5 46.8

46.0 46.2 46.4 46.6 46.8 47.0

98.9 98.9 98.7 99.1 99.4 99.6

65.1 65.4 61.2 59.1 65.1 73.5

0.11 0.13 0.28 0.27 0.35 0.30

2 349.2 2 361.2 2 379.7 2 404.5 2 421.8 2 434.3

16.7 16.7 16.4 16.6 16.6 16.6

1966 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

55.3 55.4 55.9 55.7 55.1 54.8

47.0 47.2 47.6 47.7 47.8 48.2

47.2 47.6 47.7 48.0 48.4 48.7

99.6 99.2 99.8 99.4 98.8 99.0

74.9 80.1 86.4 79.3 74.6 71.6

0.19 0.23 0.22 0.08 -0.12 -0.36

2 440.4 2 450.8 2 462.2 2 463.2 2 471.8 2 487.0

16.7 16.6 16.6 16.7 16.7 16.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

54.5 54.2 54.0 53.7 53.5 53.4

48.3 48.4 48.6 48.8 48.8 48.9

49.1 49.3 49.3 49.3 49.8 49.8

98.4 98.2 98.6 99.0 98.0 98.2

73.1 74.3 72.4 68.7 62.6 57.9

-0.28 -0.31 -0.22 -0.52 -0.60 -0.56

2 499.2 2 505.8 2 511.4 2 523.2 2 532.4 2 528.7

16.6 16.5 16.4 16.3 16.3 16.3

1967 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

53.6 53.4 53.4 53.6 54.0 54.5

49.1 49.0 49.1 49.2 49.2 49.3

49.9 50.1 50.2 50.4 50.3 50.7

98.4 97.8 97.8 97.6 97.8 97.2

48.2 49.9 38.0 36.9 34.4 36.5

-0.36 -0.37 0.01 0.54 0.91 1.04

2 551.6 2 549.9 2 560.3 2 560.7 2 565.2 2 575.2

16.2 16.2 16.1 16.2 16.1 16.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

54.8 55.6 55.6 55.7 56.0 56.5

49.4 49.7 49.7 49.8 50.3 50.7

50.7 50.6 50.7 50.8 50.8 50.9

97.4 98.2 98.0 98.0 99.0 99.6

40.9 44.8 46.5 51.1 51.4 49.9

1.37 1.38 1.31 1.60 1.62 1.19

2 587.8 2 598.3 2 600.8 2 596.8 2 612.3 2 638.3

16.0 16.0 16.0 16.0 16.0 15.9

1968 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

56.5 56.9 57.2 56.8 56.8 57.0

50.6 50.8 51.0 51.1 51.4 51.6

50.9 51.2 51.4 51.6 51.9 52.1

99.4 99.2 99.2 99.0 99.0 99.0

50.6 53.9 54.0 49.0 49.4 49.9

0.93 0.85 0.69 -0.12 -0.24 -0.35

2 640.8 2 662.3 2 674.9 2 684.5 2 699.9 2 712.1

15.8 15.8 15.7 15.7 15.7 15.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

57.4 56.9 57.5 58.1 58.2 58.2

51.8 51.8 52.0 52.2 52.5 52.7

52.1 52.4 52.5 52.6 52.8 53.1

99.4 98.9 99.0 99.2 99.4 99.2

55.9 47.8 48.4 53.3 61.0 58.3

-0.52 -0.61 -0.32 -0.33 -0.12 0.01

2 729.0 2 737.6 2 749.7 2 753.9 2 765.2 2 775.0

15.6 15.6 15.6 15.7 15.8 15.8

1969 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

58.5 58.5 58.3 58.6 58.0 57.6

52.8 53.0 53.2 53.3 53.4 53.7

53.4 53.5 53.8 54.1 54.5 54.7

98.9 99.1 98.9 98.5 98.0 98.2

63.6 60.1 60.5 63.9 64.9 67.0

-0.26 -0.42 -0.49 -1.24 -2.35 -2.33

2 775.9 2 786.6 2 799.2 2 808.9 2 819.1 2 828.6

15.9 15.9 15.9 15.9 15.9 15.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

57.1 57.0 57.0 56.4 56.0 55.5

53.8 54.1 54.1 54.3 54.1 54.1

54.9 55.1 55.2 55.3 55.4 55.7

98.0 98.2 98.0 98.2 97.7 97.1

65.7 70.3 68.9 66.8 64.1 66.8

-1.89 -2.50 -1.99 -1.90 -1.71 -1.32

2 844.5 2 862.8 2 868.5 2 875.1 2 876.0 2 878.5

15.8 15.8 15.8 15.8 15.8 15.7

1970 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

54.8 54.2 53.8 53.1 53.5 53.6

53.9 53.9 53.9 53.9 53.8 53.8

56.0 56.0 56.2 56.1 56.0 56.2

96.2 96.2 95.9 96.1 96.1 95.7

57.9 57.7 49.3 48.7 67.2 66.1

-1.19 -1.74 -0.69 -0.71 -0.03 0.24

2 873.7 2 875.4 2 882.7 2 889.8 2 892.2 2 885.6

15.8 15.7 15.7 15.3 15.4 15.5

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

53.6 53.7 53.8 53.6 53.7 54.8

53.9 53.8 53.8 53.3 53.1 53.6

55.9 56.1 55.9 56.0 56.0 55.5

96.4 95.9 96.2 95.2 94.8 96.6

49.8 46.1 46.5 39.0 37.8 37.5

0.25 0.92 1.10 1.13 1.24 1.49

2 900.6 2 908.6 2 908.6 2 884.1 2 880.9 2 886.8

15.4 15.4 15.3 15.4 15.3 15.3

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

505

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1971 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

55.3 56.0 56.5 56.9 57.3 57.5

53.9 53.9 54.0 54.2 54.4 54.5

55.4 55.5 55.3 55.2 55.2 55.0

97.3 97.1 97.6 98.2 98.6 99.1

39.8 44.2 45.0 48.9 49.4 47.9

2.10 2.39 1.99 1.68 1.76 1.61

2 919.5 2 919.6 2 930.9 2 938.0 2 948.4 2 947.8

15.4 15.4 15.4 15.4 15.4 15.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

57.6 57.8 58.2 58.3 58.7 59.6

54.4 54.5 54.8 54.9 55.2 55.5

55.3 55.6 55.7 55.6 55.6 55.6

98.4 98.0 98.4 98.7 99.3 99.8

47.4 49.7 48.9 50.9 50.9 53.3

1.42 1.02 0.59 0.73 0.90 1.79

2 949.6 2 966.9 2 968.9 2 979.2 2 993.9 3 018.8

15.5 15.5 15.6 15.6 15.7 15.7

1972 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

60.2 60.9 61.3 61.5 61.7 61.9

56.0 56.2 56.5 56.8 57.0 57.1

54.9 54.8 55.1 55.4 55.6 55.8

102.0 102.6 102.5 102.5 102.5 102.3

55.2 52.6 57.1 55.0 56.1 57.7

2.45 2.79 2.24 2.02 1.86 1.65

3 038.7 3 054.1 3 070.7 3 093.4 3 105.9 3 074.4

15.6 15.6 15.6 15.7 15.8 16.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

62.5 63.5 64.1 64.6 65.0 65.6

57.2 57.8 58.1 58.7 59.1 59.5

56.0 56.0 55.9 56.0 56.1 56.2

102.1 103.2 103.9 104.8 105.3 105.9

61.7 62.9 65.5 73.0 74.5 80.7

1.56 1.41 1.68 1.44 1.22 1.03

3 124.4 3 157.7 3 172.6 3 221.9 3 248.0 3 268.8

15.9 15.9 15.9 15.7 15.7 15.8

1973 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

65.8 65.9 65.5 64.9 64.8 64.5

59.7 60.1 60.2 60.3 60.5 60.6

56.7 57.2 57.7 58.2 58.4 59.1

105.3 105.1 104.3 103.6 103.6 102.5

83.7 85.2 87.5 86.7 86.6 85.6

0.52 0.06 -0.38 -0.45 -0.99 -1.59

3 255.3 3 275.6 3 277.7 3 281.5 3 302.7 3 314.5

16.1 16.1 16.2 16.2 16.3 16.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

64.1 63.5 63.3 63.1 62.9 61.7

60.8 60.7 61.0 61.4 61.8 61.7

59.3 59.9 60.1 60.0 60.3 60.6

102.5 101.3 101.5 102.3 102.5 101.8

85.2 86.7 90.1 88.7 96.8 92.8

-3.27 -3.10 -3.69 -3.22 -3.30 -3.21

3 327.7 3 315.7 3 337.4 3 369.4 3 379.7 3 371.8

16.4 16.4 16.4 16.3 16.3 16.2

1974 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

61.2 60.5 60.6 59.8 59.5 58.7

61.5 61.4 61.4 61.3 61.4 61.4

61.0 61.1 61.3 61.7 62.3 62.6

100.8 100.5 100.2 99.4 98.6 98.1

91.8 88.8 88.9 82.1 74.5 73.1

-2.66 -2.01 -2.14 -3.00 -3.73 -4.39

3 335.4 3 313.2 3 289.0 3 270.3 3 279.6 3 284.4

16.3 16.3 16.3 16.4 16.2 16.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

58.0 56.8 55.4 54.6 53.6 52.7

61.5 61.3 61.2 61.1 60.4 59.6

62.9 63.4 63.8 64.0 64.1 64.4

97.8 96.7 95.9 95.5 94.2 92.5

69.2 66.3 51.8 45.3 34.0 23.2

-5.11 -3.97 -3.30 -2.16 -1.77 -1.10

3 297.0 3 280.8 3 274.5 3 279.9 3 251.6 3 236.3

16.1 16.1 16.0 15.8 15.8 15.6

1975 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

52.4 52.5 52.8 54.1 54.9 55.4

59.3 58.8 58.4 58.4 58.5 58.6

64.1 63.6 63.3 62.7 62.1 60.8

92.5 92.5 92.3 93.1 94.2 96.4

19.5 15.9 17.3 21.7 22.7 24.9

0.37 1.15 2.19 2.74 2.84 2.31

3 224.6 3 205.3 3 203.6 3 199.0 3 215.1 3 220.8

15.6 15.5 15.4 15.3 15.2 14.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

56.3 56.6 57.0 57.5 57.8 58.2

58.8 59.2 59.4 59.7 59.8 60.1

60.8 60.5 60.4 60.5 60.4 60.4

96.7 97.9 98.3 98.7 99.0 99.5

28.7 35.1 43.8 44.8 46.8 41.2

1.96 2.26 2.19 2.32 2.83 2.80

3 222.8 3 253.0 3 265.8 3 282.2 3 291.5 3 293.1

14.8 14.6 14.6 14.5 14.5 14.6

1976 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

59.5 60.5 60.7 60.9 61.3 61.5

60.7 61.0 61.2 61.5 61.6 61.7

60.5 60.5 60.5 60.4 60.4 60.4

100.3 100.8 101.2 101.8 102.0 102.2

54.0 56.1 56.7 57.3 58.3 58.6

2.87 3.02 2.89 2.74 2.61 2.38

3 316.7 3 340.0 3 358.5 3 379.8 3 392.7 3 392.5

14.5 14.5 14.5 14.6 14.5 14.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

62.1 62.4 62.8 62.8 63.3 64.1

61.9 62.1 62.3 62.2 62.7 63.1

60.4 60.5 60.6 61.0 61.0 60.9

102.5 102.6 102.8 102.0 102.8 103.6

54.0 55.2 52.6 49.0 47.2 53.3

2.52 2.48 2.34 2.39 2.34 2.22

3 408.5 3 421.8 3 428.5 3 433.3 3 463.9 3 472.3

14.6 14.5 14.6 14.6 14.6 14.6

1Not

seasonally adjusted.

506

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1977 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

64.0 64.6 65.2 65.4 65.7 66.1

63.1 63.5 63.9 64.2 64.5 64.9

61.1 61.2 61.3 61.6 61.7 62.1

103.3 103.8 104.2 104.2 104.5 104.5

55.3 65.1 49.6 54.6 55.4 53.3

2.60 2.71 2.77 2.64 2.11 1.89

3 460.2 3 470.9 3 489.6 3 508.0 3 531.0 3 542.8

14.6 14.6 14.7 14.8 14.9 15.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

66.1 66.2 66.4 66.4 66.5 66.7

65.1 65.3 65.7 66.0 66.3 66.6

62.2 62.5 62.7 62.9 63.2 63.2

104.7 104.5 104.8 104.9 104.9 105.4

58.3 53.5 56.7 53.6 56.3 57.1

1.91 1.50 1.20 1.05 1.07 1.13

3 556.0 3 568.8 3 599.7 3 648.4 3 665.4 3 676.4

15.0 15.0 15.0 15.1 15.1 15.1

1978 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

65.9 66.4 66.5 67.2 67.3 67.5

66.2 66.6 67.2 68.0 68.2 68.6

63.8 64.0 64.2 64.3 64.7 65.2

103.8 104.1 104.7 105.8 105.4 105.2

55.6 63.4 58.9 57.1 57.4 61.1

1.26 1.25 1.25 1.26 0.99 0.86

3 662.2 3 680.7 3 706.8 3 738.3 3 741.0 3 762.9

15.2 15.2 15.3 15.3 15.4 15.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

67.3 67.5 67.8 68.0 67.2 66.7

68.7 69.0 69.1 69.5 69.8 70.1

65.5 65.7 66.1 66.3 66.9 67.1

104.9 105.0 104.5 104.8 104.3 104.5

59.4 60.6 60.0 64.7 64.5 63.5

0.83 0.37 -0.03 -0.32 -0.95 -1.02

3 773.9 3 787.5 3 802.9 3 818.8 3 831.5 3 854.8

15.6 15.7 15.7 15.7 15.8 15.8

1979 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

66.6 66.6 66.9 65.8 66.2 65.8

70.1 70.3 70.8 70.2 70.6 70.7

67.5 67.8 67.6 68.6 68.6 69.3

103.9 103.7 104.7 102.3 102.9 102.0

66.4 64.0 66.7 75.6 63.7 61.4

-0.97 -0.96 -0.97 -0.83 -0.99 -1.38

3 861.1 3 881.0 3 895.8 3 856.0 3 856.0 3 865.4

15.8 15.9 15.9 16.0 16.1 16.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

65.1 65.1 65.1 64.2 63.5 63.2

70.8 70.8 70.7 70.9 71.0 71.1

69.6 70.0 70.6 71.1 71.4 71.6

101.7 101.1 100.1 99.7 99.4 99.3

57.4 52.9 50.7 46.9 46.8 42.2

-1.52 -1.91 -2.10 -3.47 -2.53 -3.39

3 869.4 3 875.4 3 876.1 3 897.0 3 917.2 3 931.3

16.0 16.1 16.1 16.1 16.0 16.0

1980 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

63.2 63.1 61.2 59.6 58.9 60.0

71.3 71.2 71.0 70.4 69.7 69.5

71.9 72.2 73.2 73.9 73.5 72.9

99.2 98.6 97.0 95.3 94.8 95.3

42.1 46.0 39.1 36.9 29.8 32.4

-3.02 -1.72 -4.44 -6.14 -0.80 0.31

3 933.7 3 920.1 3 905.9 3 869.0 3 845.1 3 846.8

15.8 15.8 15.7 15.7 15.5 15.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

60.9 61.7 62.7 63.2 63.3 62.4

69.3 69.6 70.1 70.7 71.1 71.3

71.6 70.9 70.2 69.9 70.1 70.7

96.8 98.2 99.9 101.1 101.4 100.8

36.3 40.1 41.2 46.5 46.8 50.1

1.22 1.49 0.64 -1.06 -3.17 -6.06

3 832.4 3 848.6 3 868.0 3 933.4 3 957.4 3 977.0

15.1 15.0 14.8 14.5 14.4 14.3

1981 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

61.9 61.1 61.5 62.0 61.7 60.8

71.3 71.2 71.2 71.2 71.3 71.5

71.2 71.4 71.4 71.4 72.4 72.6

100.1 99.7 99.7 99.7 98.5 98.5

49.7 48.5 48.7 51.2 50.2 47.9

-6.51 -2.74 -1.58 -2.04 -4.42 -5.63

3 954.2 3 943.0 3 952.7 3 954.8 3 968.5 3 996.2

14.3 14.2 14.2 14.2 14.2 14.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

60.2 60.0 59.1 58.5 58.3 58.3

71.8 71.8 71.7 71.4 71.1 70.8

72.8 73.0 73.7 73.5 73.5 73.3

98.6 98.4 97.3 97.1 96.7 96.6

44.9 49.6 45.9 37.7 40.5 41.2

-4.76 -2.88 -0.55 0.07 0.08 1.35

4 037.8 4 059.9 4 060.5 4 056.2 4 051.4 4 042.3

13.9 13.8 13.9 13.9 13.8 13.8

1982 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

58.0 58.6 58.3 58.7 58.7 58.4

70.4 70.7 70.6 70.5 70.5 70.2

73.5 73.1 72.7 73.0 72.9 73.1

95.8 96.7 97.1 96.6 96.7 96.0

40.1 40.8 36.4 38.2 42.1 45.2

1.37 -0.35 -0.82 -1.07 -0.83 0.15

4 031.0 4 042.8 4 047.9 4 066.3 4 074.3 4 055.2

13.9 13.9 13.8 13.8 13.8 13.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

58.8 58.5 59.4 60.0 60.4 61.1

69.9 69.7 69.5 69.2 69.2 69.1

72.9 72.8 72.7 72.4 71.8 71.1

95.9 95.7 95.6 95.6 96.4 97.2

45.8 45.3 45.9 46.5 46.9 48.6

1.36 2.94 2.03 1.20 1.35 1.59

4 043.1 4 040.8 4 032.7 4 023.7 4 026.0 4 041.2

13.7 13.7 13.7 13.7 13.6 13.7

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

507

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1983 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

62.3 63.0 64.1 64.8 65.8 66.5

69.6 69.4 69.8 70.0 70.5 70.9

70.7 70.7 70.5 70.6 70.2 70.5

98.4 98.2 99.0 99.2 100.4 100.6

46.7 49.9 50.8 52.7 51.9 56.8

1.78 2.21 1.74 1.60 1.75 1.87

4 044.5 4 044.9 4 063.6 4 064.5 4 094.1 4 104.2

13.7 13.7 13.7 13.7 13.7 13.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

66.9 66.7 67.2 67.9 68.3 68.5

71.3 71.3 72.1 72.6 73.0 73.5

70.6 71.1 71.1 71.1 71.6 71.9

101.0 100.3 101.4 102.1 102.0 102.2

58.9 60.2 60.7 62.8 67.5 62.1

2.01 2.29 2.20 2.06 2.35 2.36

4 127.0 4 115.0 4 153.1 4 204.9 4 231.1 4 272.4

13.8 13.9 13.9 13.9 14.0 14.1

1984 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

69.6 69.8 69.9 69.9 70.2 69.9

74.1 74.4 74.7 75.1 75.4 75.9

72.1 72.8 73.4 73.9 74.5 75.0

102.8 102.2 101.8 101.6 101.2 101.2

64.4 61.5 65.5 64.6 62.5 56.2

2.11 2.25 2.41 2.34 3.09 2.50

4 312.1 4 330.6 4 358.3 4 395.9 4 416.4 4 458.2

14.1 14.3 14.3 14.3 14.5 14.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

70.2 69.9 69.8 69.7 70.2 70.7

76.1 76.3 76.5 76.6 77.0 77.1

75.7 76.3 76.7 77.0 77.0 77.1

100.5 100.0 99.7 99.5 100.0 100.0

59.1 55.2 52.8 49.3 48.1 48.8

2.13 1.08 1.22 2.17 2.14 3.12

4 491.7 4 506.2 4 542.0 4 536.4 4 565.0 4 587.5

14.7 14.8 14.8 15.0 15.0 15.1

1985 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

71.4 71.6 72.0 72.0 72.5 73.2

77.2 77.4 77.7 77.7 78.0 77.9

77.3 77.6 77.8 78.0 78.4 78.6

99.9 99.7 99.9 99.6 99.5 99.1

50.4 48.6 46.7 46.1 48.0 47.1

3.03 3.01 3.28 3.16 2.88 2.63

4 588.8 4 593.1 4 611.9 4 613.1 4 617.9 4 634.3

15.2 15.4 15.5 15.7 15.9 15.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

73.4 73.7 74.2 74.3 74.4 75.3

77.9 78.2 78.4 78.5 78.7 79.0

79.0 79.1 79.2 79.9 79.9 80.2

98.6 98.9 99.0 98.2 98.5 98.5

45.7 46.6 49.5 50.0 48.5 49.3

2.43 2.43 2.45 2.25 1.73 0.99

4 621.3 4 631.1 4 638.7 4 673.6 4 670.1 4 710.0

16.1 16.2 16.4 16.4 16.6 16.5

1986 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

75.4 75.7 75.8 76.3 76.5 77.0

79.1 79.1 79.3 79.5 79.6 79.5

80.2 80.4 80.8 80.5 80.7 80.8

98.6 98.4 98.1 98.8 98.6 98.4

50.1 49.8 50.5 50.7 50.2 49.9

1.05 0.84 0.30 0.31 0.86 0.88

4 688.2 4 713.1 4 755.7 4 759.0 4 766.3 4 768.8

16.6 16.7 16.7 16.8 16.9 17.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

77.0 77.0 77.2 77.8 77.9 78.8

79.8 79.9 80.3 80.3 80.5 80.9

80.9 81.0 80.7 81.4 81.4 81.2

98.6 98.6 99.5 98.6 98.9 99.6

49.9 50.8 49.6 51.3 52.0 52.8

0.74 1.00 1.56 1.58 1.21 0.20

4 777.4 4 794.1 4 795.9 4 795.7 4 816.6 4 818.9

17.0 17.1 17.2 17.4 17.2 17.2

1987 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

78.6 79.3 79.6 79.6 79.8 80.2

80.6 81.3 81.5 81.6 81.9 82.1

81.9 81.4 81.4 81.6 81.9 82.1

98.4 99.9 100.1 100.0 100.0 100.0

51.5 51.2 51.9 52.8 54.0 56.8

0.65 1.15 1.12 1.65 1.76 1.67

4 821.5 4 836.6 4 851.3 4 846.9 4 869.5 4 874.3

17.1 17.0 16.8 16.9 16.9 16.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

80.7 80.9 81.2 81.2 80.8 80.8

82.4 82.7 82.9 83.4 83.6 84.1

82.2 82.3 82.6 83.0 83.1 83.0

100.2 100.5 100.4 100.5 100.6 101.3

58.9 60.3 61.5 62.2 64.9 62.7

1.87 2.03 2.20 2.23 2.17 2.22

4 890.9 4 923.7 4 928.7 4 966.5 4 991.9 5 047.2

16.9 16.9 16.9 16.9 16.9 16.7

1988 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

80.9 81.8 82.1 82.2 82.3 83.4

84.0 84.4 84.8 84.9 85.1 85.4

83.5 83.5 83.8 84.3 84.4 84.9

100.6 101.1 101.2 100.7 100.8 100.6

62.0 61.2 57.3 58.6 56.9 65.6

1.84 1.63 1.79 1.85 2.00 1.41

5 014.2 5 037.7 5 046.9 5 055.3 5 063.3 5 080.5

16.8 16.8 16.8 16.9 16.9 16.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

82.7 82.9 82.9 83.2 83.1 83.5

85.6 85.7 85.9 86.2 86.5 86.9

84.9 85.2 85.2 85.5 85.8 85.8

100.8 100.6 100.8 100.8 100.8 101.3

58.4 57.4 55.2 54.8 52.1 53.0

1.31 1.25 0.79 0.50 0.61 0.35

5 107.6 5 111.0 5 117.6 5 145.2 5 149.6 5 191.5

16.8 16.8 16.8 16.7 16.7 16.6

1Not

seasonally adjusted.

508

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1989 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

83.6 83.1 82.3 82.6 81.9 81.8

87.2 87.2 87.3 87.4 87.2 87.3

86.2 86.9 87.5 87.3 88.1 88.6

101.2 100.3 99.8 100.1 99.0 98.5

53.9 54.0 52.5 52.2 49.1 46.5

-0.03 -0.19 -0.49 -0.66 -0.95 -1.25

5 235.9 5 240.4 5 254.2 5 244.3 5 222.0 5 237.4

16.7 16.7 16.8 16.8 16.9 16.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

81.7 81.8 81.9 81.6 81.8 82.1

87.2 87.6 87.6 87.6 87.9 88.1

88.9 88.7 88.6 89.1 89.1 89.3

98.1 98.8 98.9 98.3 98.7 98.7

46.1 44.0 43.9 43.3 42.5 43.5

-1.22 -0.88 -0.83 -0.83 -0.68 -0.61

5 250.6 5 255.8 5 252.5 5 265.3 5 290.9 5 300.6

16.9 16.9 16.9 16.9 16.9 16.9

1990 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

82.1 81.4 81.9 81.4 81.3 81.5

88.0 88.5 88.7 88.7 88.8 88.9

89.0 89.0 89.2 89.3 89.4 89.6

98.9 99.4 99.4 99.3 99.3 99.2

48.2 44.4 47.2 47.2 48.2 49.8

-0.02 0.23 0.31 0.53 0.58 0.19

5 295.4 5 318.0 5 320.3 5 349.3 5 336.2 5 344.9

16.8 16.7 16.6 16.5 16.5 16.4

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

81.3 80.6 80.1 79.4 78.9 79.0

88.9 88.8 88.6 88.3 87.9 87.7

89.9 89.9 90.2 90.4 90.6 90.5

98.9 98.8 98.2 97.7 97.0 96.9

46.4 50.1 48.9 48.1 48.6 47.2

0.32 0.62 0.69 0.61 0.58 0.77

5 366.0 5 335.8 5 330.9 5 284.8 5 282.1 5 289.9

16.4 16.4 16.4 16.5 16.4 16.3

1991 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

78.6 79.2 79.8 80.4 80.9 81.4

87.3 87.2 87.0 87.2 87.3 87.5

90.8 90.4 90.5 89.9 89.6 89.2

96.1 96.5 96.1 97.0 97.4 98.1

44.4 44.7 43.9 45.0 46.0 47.1

1.18 1.60 1.99 2.13 2.29 2.38

5 235.6 5 233.8 5 238.9 5 248.5 5 243.7 5 273.9

16.3 16.2 16.2 16.2 16.1 15.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

82.5 82.1 82.4 82.5 82.5 82.3

87.6 87.6 87.8 87.7 87.7 87.6

88.9 88.7 88.4 88.3 88.3 88.2

98.5 98.8 99.3 99.3 99.3 99.3

49.6 48.3 48.8 50.2 50.1 49.4

2.45 2.24 2.20 2.32 2.61 2.66

5 257.9 5 259.0 5 270.4 5 251.2 5 266.2 5 292.4

15.9 15.8 15.7 15.6 15.6 15.4

1992 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

83.0 83.7 84.5 84.8 85.3 85.4

87.7 88.0 88.1 88.4 88.5 88.7

87.6 87.4 87.3 87.1 87.0 86.8

100.1 100.7 100.9 101.5 101.7 102.2

48.7 49.3 50.3 47.4 50.0 50.8

3.00 3.28 3.56 3.75 3.57 3.50

5 285.1 5 321.2 5 326.0 5 336.4 5 356.9 5 364.2

15.4 15.2 15.2 15.1 15.0 14.9

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

85.7 85.9 86.3 86.8 87.7 88.9

88.9 88.7 89.0 89.3 89.5 90.4

86.5 86.9 86.8 86.7 87.2 86.5

102.8 102.1 102.5 103.0 102.6 104.5

52.5 50.3 51.2 48.6 51.3 51.5

3.59 3.29 3.20 3.49 3.78 3.85

5 360.5 5 336.7 5 370.3 5 396.3 5 414.8 5 620.5

14.9 14.8 14.8 14.7 14.7 14.3

1993 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

88.9 89.2 88.8 89.5 89.5 90.0

89.7 89.8 89.6 90.2 90.4 90.6

87.5 87.7 88.0 88.0 88.1 88.2

102.5 102.4 101.8 102.5 102.6 102.7

52.3 51.7 52.7 52.8 51.5 50.4

3.58 3.23 2.91 3.01 3.04 2.92

5 337.8 5 336.0 5 311.2 5 420.6 5 437.6 5 428.7

14.9 15.0 15.0 14.8 14.8 14.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

89.9 90.6 91.0 91.4 91.9 92.9

90.7 90.8 91.1 91.4 91.7 92.6

88.6 88.7 89.0 88.9 89.0 88.8

102.4 102.4 102.4 102.8 103.0 104.3

51.0 51.8 51.3 50.7 50.9 51.5

2.75 2.65 2.27 2.34 2.70 2.81

5 424.6 5 442.5 5 438.2 5 450.9 5 467.1 5 669.9

14.9 14.9 15.0 15.1 15.2 14.8

1994 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

93.2 93.1 94.1 94.5 95.0 95.2

91.9 92.3 92.9 93.3 93.7 94.0

89.7 89.7 89.7 90.0 90.4 90.9

102.5 102.9 103.6 103.7 103.7 103.4

54.4 57.0 55.4 57.2 60.2 60.3

2.70 2.72 3.14 3.41 3.17 2.85

5 408.9 5 470.3 5 494.5 5 569.8 5 608.2 5 603.4

15.5 15.5 15.6 15.6 15.7 15.8

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

95.0 95.8 96.2 96.7 96.9 97.4

94.2 94.7 94.9 95.4 95.7 96.1

91.2 91.5 92.0 92.3 93.1 93.6

103.3 103.5 103.2 103.4 102.8 102.7

58.1 61.6 62.5 64.9 64.7 64.8

3.04 2.77 2.73 2.98 2.67 2.36

5 611.5 5 619.8 5 647.8 5 692.7 5 687.8 5 705.5

15.9 16.0 16.2 16.2 16.4 16.6

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

509

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

1995 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

97.3 97.0 96.5 96.5 96.4 96.7

96.4 96.5 96.6 96.6 96.7 97.0

94.2 94.9 95.4 96.1 96.6 97.3

102.3 101.7 101.3 100.5 100.1 99.7

62.7 60.7 56.9 56.3 53.3 51.8

2.25 1.55 1.22 1.01 0.62 0.17

5 721.4 5 725.0 5 730.6 5 735.1 5 725.7 5 744.1

16.7 16.8 17.0 17.1 17.3 17.4

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

97.0 97.5 97.7 97.6 97.6 98.1

96.9 97.4 97.6 97.7 98.0 98.3

97.7 97.8 98.2 98.5 98.7 98.8

99.2 99.6 99.4 99.2 99.3 99.5

51.3 49.1 50.0 48.4 45.3 47.5

0.43 0.75 0.40 0.28 0.13 0.11

5 752.9 5 756.1 5 779.9 5 790.1 5 820.9 5 836.8

17.5 17.7 17.9 17.9 18.2 18.2

1996 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

96.9 98.0 98.6 99.0 99.6 100.4

98.0 98.7 98.9 99.2 99.6 100.0

99.1 99.1 99.2 99.3 99.6 99.7

98.9 99.6 99.7 99.9 100.0 100.3

47.8 49.5 49.6 49.4 49.9 52.8

0.09 0.59 0.96 1.29 1.50 1.64

5 843.3 5 897.6 5 918.9 5 923.7 5 948.3 5 991.6

18.2 18.2 18.3 18.4 18.4 18.4

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

100.6 100.7 101.0 101.2 101.9 101.9

100.1 100.5 100.8 101.0 101.4 101.6

100.3 100.3 100.6 100.6 100.9 101.2

99.8 100.2 100.2 100.4 100.5 100.4

50.8 51.9 50.0 50.9 51.2 52.0

1.47 1.42 1.53 1.29 0.89 1.01

5 988.0 6 017.4 6 040.9 6 045.0 6 066.5 6 092.2

18.6 18.6 18.6 18.6 18.6 18.6

1997 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

102.3 103.5 103.7 103.9 104.7 105.1

101.5 102.1 102.4 102.7 102.9 103.3

101.6 101.5 101.9 102.2 102.6 102.8

99.9 100.6 100.5 100.5 100.3 100.5

49.7 52.1 53.1 53.4 55.0 54.6

1.33 1.23 1.30 1.38 1.21 0.93

6 119.1 6 147.6 6 176.6 6 185.6 6 216.0 6 239.7

18.6 18.6 18.6 18.7 18.7 18.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

106.2 106.1 106.7 107.2 107.6 107.3

103.8 104.0 104.6 104.9 105.5 105.8

102.8 103.2 103.6 103.9 104.3 104.6

101.0 100.8 101.0 101.0 101.2 101.1

54.7 55.2 54.8 54.9 55.2 53.9

0.70 0.76 0.67 0.53 0.36 0.31

6 271.8 6 312.5 6 331.5 6 364.5 6 415.9 6 451.4

18.6 18.6 18.6 18.6 18.5 18.5

1998 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

107.7 108.6 108.7 108.9 109.0 108.5

106.2 106.7 107.0 107.4 107.7 107.9

104.8 105.3 106.0 106.2 106.5 107.2

101.3 101.3 100.9 101.1 101.1 100.7

53.0 52.8 53.0 52.4 51.5 50.9

-0.02 0.06 0.16 0.19 0.16 -0.06

6 516.5 6 568.2 6 612.2 6 644.0 6 681.3 6 722.8

18.3 18.2 18.2 18.5 18.4 18.5

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

108.8 109.2 109.0 109.2 110.2 110.5

107.9 108.6 108.9 109.2 109.5 109.8

107.5 107.9 108.2 108.3 108.3 108.5

100.4 100.6 100.6 100.8 101.1 101.2

50.2 50.3 50.8 49.8 50.4 48.5

-0.08 -0.21 -0.70 -0.54 0.00 -0.03

6 741.1 6 774.3 6 799.2 6 811.5 6 843.8 6 853.8

18.5 18.5 18.5 18.6 18.5 18.6

1999 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

111.1 111.9 111.9 111.7 112.3 112.9

110.0 110.5 110.6 110.8 111.2 111.4

109.2 109.4 109.9 110.3 110.4 110.3

100.7 101.0 100.6 100.5 100.7 101.0

51.0 50.8 52.3 49.5 52.1 52.6

0.09 0.24 0.42 0.44 0.80 1.14

6 856.6 6 883.1 6 890.3 6 880.2 6 900.6 6 920.6

18.7 18.8 18.9 18.9 19.0 19.0

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

113.4 113.5 113.6 113.9 114.6 115.4

111.7 112.1 112.1 112.8 113.3 113.8

111.2 111.6 112.2 112.3 112.9 113.3

100.4 100.4 99.9 100.4 100.4 100.4

54.0 51.4 55.8 56.2 56.8 56.7

0.80 0.87 0.70 0.91 0.61 0.98

6 929.4 6 959.1 6 947.3 7 014.9 7 070.4 7 128.0

19.1 19.2 19.2 19.1 19.1 19.0

2000 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

115.9 115.1 115.7 116.2 115.4 115.6

114.4 114.4 115.0 115.3 115.4 115.6

113.7 114.7 114.6 115.2 115.5 116.5

100.6 99.7 100.3 100.1 99.9 99.2

55.0 54.4 54.3 55.4 55.4 54.5

1.21 0.79 0.41 -0.03 0.17 -0.43

7 231.2 7 265.6 7 291.1 7 297.3 7 297.6 7 328.5

18.8 18.8 18.8 18.9 19.0 19.1

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

115.3 115.1 115.1 114.6 114.1 113.2

115.7 115.8 116.0 115.8 115.8 115.9

116.6 117.3 117.8 118.6 119.5 119.4

99.2 98.7 98.5 97.6 96.9 97.1

53.9 53.5 49.6 51.1 50.2 52.8

-0.49 -0.67 -0.72 -0.77 -0.79 -1.16

7 387.8 7 410.1 7 407.9 7 419.8 7 412.5 7 394.7

19.1 19.3 19.4 19.6 19.8 19.9

1Not

seasonally adjusted.

510

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Table 20-7. Composite Indexes of Economic Activity and Selected Index Components—Continued (Seasonally adjusted, except as noted.) Cyclical composite indexes, 1996 = 100

Year and month Leading

Coincident

Lagging

Selected components of leading index

Ratio, coincident to lagging

Vendor performance (slower deliveries, diffusion index, percent)

Interest rate spread, 10-year Treasury bond less federal funds 1

Selected component of coincident index Personal income less transfer payments (billions of 1996 dollars)

Selected component of lagging index Consumer installment credit outstanding (percent of personal income)

2001 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

113.0 112.7 112.2 112.2 112.5 112.7

115.6 115.7 115.6 115.1 115.1 114.7

118.0 117.6 117.5 117.5 117.3 116.8

98.0 98.4 98.4 98.0 98.1 98.2

49.8 50.2 47.7 47.2 45.4 47.1

-0.82 -0.39 -0.42 0.34 1.18 1.31

7 424.0 7 428.6 7 436.0 7 393.8 7 371.1 7 362.9

19.8 20.0 20.0 20.2 20.2 20.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

113.0 113.1 112.2 112.3 113.6 115.4

114.7 114.6 114.1 114.2 113.9 113.9

117.0 116.8 117.1 116.5 116.5 116.5

98.0 98.1 97.4 98.0 97.8 97.8

46.8 46.7 47.5 49.5 49.1 49.3

1.47 1.32 1.66 2.08 2.56 3.27

7 366.8 7 364.7 7 353.9 7 330.0 7 332.5 7 352.1

20.4 20.4 20.5 20.6 20.9 21.0

2002 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

116.4 117.0 117.3 117.7 118.6 118.7

114.0 113.9 113.9 114.1 114.2 114.4

116.5 116.4 116.5 116.1 116.0 116.1

97.9 97.9 97.8 98.3 98.4 98.5

51.3 51.4 51.9 53.1 53.0 54.3

3.31 3.17 3.55 3.46 3.41 3.18

7 348.0 7 359.4 7 364.2 7 350.3 7 358.9 7 367.5

20.9 21.0 21.1 21.1 21.2 21.2

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

118.9 119.1 119.1 119.4 120.3 120.8

114.3 114.2 114.0 114.1 114.1 113.9

116.4 116.4 116.3 116.3 116.2 116.2

98.2 98.1 98.0 98.1 98.2 98.0

54.6 53.5 56.9 53.6 52.6 53.2

2.92 2.52 2.12 2.19 2.71 2.79

7 340.2 7 319.7 7 304.8 7 303.5 7 304.7 7 311.3

21.4 21.4 21.5 21.5 21.5 21.5

2003 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

121.0 120.7 120.9 121.5 123.1 124.1

114.1 113.8 113.8 113.7 114.0 114.3

116.4 116.9 117.0 116.9 116.9 116.2

98.0 97.3 97.3 97.3 97.5 98.4

52.7 52.9 52.5 49.6 50.3 49.7

2.81 2.64 2.56 2.70 2.31 2.11

7 325.2 7 323.2 7 323.5 7 349.9 7 407.2 7 429.8

21.6 21.6 21.5 21.6 21.6 21.6

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

125.1 125.8 126.7 127.9 128.7 129.8

114.6 114.6 114.9 115.1 115.6 115.8

116.1 116.1 115.5 115.6 115.3 115.0

98.7 98.7 99.5 99.6 100.3 100.7

51.2 53.0 53.5 54.8 57.1 59.6

2.97 3.42 3.26 3.28 3.30 3.29

7 435.1 7 430.2 7 431.8 7 467.9 7 529.4 7 532.7

21.6 21.6 21.7 21.6 21.5 21.5

2004 January .............................................. February ............................................ March ................................................ April ................................................... May .................................................... June ...................................................

130.9 131.4 133.0 133.3 134.0 134.5

115.9 116.2 116.7 116.9 117.3 117.3

115.3 115.1 114.9 115.1 115.4 115.7

100.5 101.0 101.6 101.6 101.6 101.4

61.4 62.8 66.4 66.4 67.6 66.8

3.15 3.07 2.83 3.35 3.72 3.70

7 540.8 7 551.6 7 558.6 7 576.7 7 587.1 7 580.0

21.5 21.4 21.4 21.3 21.3 21.3

July .................................................... August ............................................... September ......................................... October .............................................. November .......................................... December ..........................................

135.0 135.1 135.2 135.2 136.0 136.9

117.7 117.9 117.9 118.4 118.8 120.3

116.6 116.8 117.2 117.4 117.3 116.4

100.9 100.9 100.6 100.9 101.3 103.4

63.9 62.9 60.2 59.5 57.8 56.1

3.24 2.85 2.52 2.34 2.26 2.07

7 630.8 7 648.7 7 639.4 7 713.9 7 745.8 8 071.9

21.3 21.2 21.4 21.3 21.2 20.5

1Not

seasonally adjusted.

CHAPTER 20: SELECTED HISTORICAL DATA FOR MONTHLY SERIES

NOTES AND DEFINITIONS TABLE 20-1 INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION See the notes and definitions for Tables 2-1 through 2-3. TABLE 20-2 SUMMARY CONSUMER AND PRODUCER PRICE INDEXES See the notes and definitions for Tables 8-1 through 8-4. TABLE 20-3 SUMMARY LABOR FORCE, EMPLOYMENT, AND UNEMPLOYMENT See the notes and definitions for Tables 10-1 through 10-5.

511

TABLES 20-4 NONFARM PAYROLL EMPLOYMENT, HOURS, AND EARNINGS See the notes and definitions for Tables 10-7 through 10-12. TABLE 20-5 MONEY STOCK, RESERVES, AND MONETARY BASE See the notes and definitions for Tables 12-1 through 12-3. TABLE 20-6 INTEREST RATES, BOND YIELDS, AND STOCK PRICE INDEXES See the notes and definitions for Tables 12-9 and 12-10. TABLE 20-7 COMPOSITE INDEXES OF ECONOMIC ACTIVITY AND SELECTED INDEX COMPONENTS See the notes and definitions for Table 1-8.

PART D REGIONAL AND STATE DATA

CHAPTER 21: REGIONAL AND STATE DATA Figure 21-1. Per Capita Personal Income, United States and Selected States, 1958–2004 50,000 United States

40,000

California Connecticut

Dollars

Mississippi

30,000

20,000

10,000

0 1958

1963

1968

1973

1978

1983

1988

1993

1998

2004

Year

• Per capita personal income (total personal income divided by the size of the population) provides one measure of the affluence of states and regions and how this has changed over time. To provide examples, Figure 21-1 above shows the time path since 1958 for the U.S. total; for the largest state in terms of both population and total income (California); for the state with the highest per capita income in 2004 (Connecticut); and for the state with the lowest per capita income in 2004 (Mississippi). (The District of Columbia, which is shown in the tables in order to complete the coverage of the United States, has even higher per capita income than Connecticut. However, this is not really comparable with the states in many respects, since it consists entirely of a central city area.) (Table 21-2) • These data are not adjusted to remove the effects of inflation or the effects of different costs of living in different states or regions. In addition, they are averages (“means”) and—due to the skewed distribution of income—do not necessarily approximate the income of the typical, or “median”, person in the state. Median income data for recent years are shown in Table 3-14 of this volume. (See “Using the Data” at the beginning of this volume for a discussion of means and medians. The District of Columbia provides an extreme example of the difference. Despite its high per capita income, the District’s median income is low and its poverty rate is high.) However, per capita income data can be useful for assessing and comparing the economic and fiscal capacities of the states. • Quantity indexes for gross state product indicate that Nevada had the greatest output growth between 2000 and 2004—twice the national average—with Arizona as the runner-up. Only in Louisiana did output decline (and that was before Hurricane Katrina). The fastest-growing states in the late-expansion period between 1997 and 2000 were Arizona, California, and Colorado; Alaska and Hawaii were the only states with declines over those three years. (Table 21-1)

515

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

516

Table 21-1. Gross Domestic Product by Region and State (Billions of dollars; index numbers, 2000 = 100.) New England Year

United States

Total

Connecticut

Maine

Massachusetts

Mideast New Hampshire

Rhode Island

Vermont

Total

Delaware

District of Maryland Columbia

New Jersey

New York

Pennsylvania

VALUE 1977 ........................... 1978 ........................... 1979 ...........................

1 986.1 2 243.6 2 491.4

103.4 116.0 128.7

29.3 32.8 36.4

7.6 8.3 9.2

49.6 55.5 61.4

6.3 7.5 8.4

7.3 8.0 8.9

3.4 4.0 4.4

402.8 446.4 488.6

6.0 6.7 7.3

15.1 16.5 18.0

35.4 39.3 43.2

66.6 73.8 82.1

179.2 198.5 215.7

100.4 111.7 122.3

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

2 719.1 3 064.6 3 217.6 3 451.3 3 872.8

142.4 159.3 172.5 190.4 217.7

40.3 45.1 49.4 54.4 62.1

10.1 11.1 12.0 13.1 14.9

68.0 76.2 82.3 91.4 104.9

9.4 10.6 11.5 12.7 14.9

9.7 10.8 11.5 12.4 13.9

4.9 5.5 5.8 6.4 7.0

528.6 585.6 623.0 676.2 756.6

7.9 8.9 9.6 10.7 12.0

19.5 21.4 22.8 24.3 26.4

47.0 52.7 55.9 61.8 69.9

89.7 99.9 106.8 119.0 134.9

235.0 261.3 282.6 305.2 342.1

129.6 141.4 145.2 155.2 171.2

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

4 155.0 4 364.3 4 663.3 5 067.5 5 385.8

239.0 261.2 287.7 315.3 331.2

67.4 73.5 81.3 89.3 94.6

16.1 17.5 19.3 21.6 22.8

115.6 126.4 138.5 151.2 157.7

16.9 18.8 21.5 23.2 23.9

15.3 16.7 17.9 19.7 20.9

7.7 8.3 9.3 10.4 11.3

814.6 874.9 945.8 1 037.3 1 089.7

13.2 14.2 15.6 17.0 19.0

28.5 30.1 32.2 35.3 37.7

77.3 84.4 92.1 102.0 108.5

147.6 160.5 175.7 196.4 206.4

366.8 394.1 423.8 462.8 481.3

181.2 191.7 206.5 223.8 236.7

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

5 674.0 5 857.3 6 174.4 6 453.5 6 865.5

338.3 341.9 356.8 368.8 390.3

99.0 100.2 104.2 106.3 111.2

23.3 23.4 24.2 25.0 26.2

158.9 160.2 166.6 173.2 185.3

23.8 24.8 26.6 27.6 29.5

21.5 21.6 22.6 23.6 24.4

11.7 11.7 12.6 13.1 13.7

1 140.7 1 168.7 1 225.5 1 271.7 1 326.3

20.1 21.9 23.0 23.6 25.1

40.1 41.8 43.8 45.7 46.8

113.7 116.2 119.5 124.7 132.1

214.8 221.7 233.2 243.4 254.5

503.6 508.9 532.6 549.2 569.4

248.3 258.1 273.5 285.0 298.3

1995 ........................... 1996 ........................... 1997 ...........................

7 232.7 7 659.7 8 171.0

415.4 439.8 472.0

120.8 126.7 137.5

27.6 28.6 29.9

195.3 208.3 223.0

32.1 34.8 37.1

25.7 26.7 29.0

13.9 14.6 15.5

1 387.7 1 456.7 1 539.2

27.5 28.9 31.3

47.1 47.6 49.4

137.4 142.9 152.3

266.7 281.8 296.1

594.4 630.0 668.1

314.5 325.5 342.0

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

8 238.0 8 679.7 9 201.1

470.6 498.7 526.2

137.7 145.3 150.7

30.9 31.9 33.5

221.8 236.9 254.0

36.6 39.0 40.2

28.5 29.6 31.0

15.2 15.9 16.7

1 539.0 1 612.6 1 695.7

35.5 36.9 39.8

50.4 51.8 56.1

154.1 161.7 171.0

300.9 313.6 326.1

654.8 685.9 725.7

343.4 362.7 377.0

9 749.1 10 058.2 10 412.2 10 923.8 11 665.6

568.2 584.5 596.0 620.1 662.4

160.7 165.4 167.2 174.1 185.8

35.7 37.1 39.0 40.8 43.3

276.8 283.4 287.2 297.1 317.8

43.6 44.4 46.1 48.2 51.9

33.8 35.5 37.0 39.4 41.7

17.7 18.7 19.4 20.5 21.9

1 785.6 1 868.1 1 922.5 2 010.0 2 139.8

42.4 45.0 47.0 50.5 54.3

58.4 63.2 67.2 70.7 76.7

180.0 192.4 202.8 213.1 228.0

344.0 362.3 377.8 394.0 416.1

769.4 797.1 802.9 838.0 896.7

391.5 407.9 424.8 443.7 468.1

1977 ........................... 1978 ........................... 1979 ...........................

47.7 50.3 51.8

42.3 44.6 46.3

43.6 45.9 47.7

51.4 52.9 54.3

41.7 44.0 45.6

29.4 32.5 34.4

51.0 52.5 54.2

41.3 45.5 47.5

54.2 56.4 57.7

44.3 46.2 46.5

80.8 83.2 84.3

49.4 51.4 52.7

45.7 47.6 49.5

54.9 57.1 58.2

59.9 62.2 63.4

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

51.8 53.2 52.5 54.0 58.1

47.2 48.4 49.0 51.6 56.4

48.6 49.7 50.8 53.2 57.9

55.3 55.9 56.8 59.2 63.7

46.5 47.8 48.2 51.1 56.1

35.4 36.7 37.3 39.7 44.9

54.2 55.5 55.2 56.7 61.0

49.0 50.6 50.2 52.3 55.1

57.4 58.3 58.0 60.0 64.1

45.7 46.6 47.5 51.0 55.0

83.9 82.7 80.8 81.4 83.5

52.9 54.1 53.7 56.3 60.6

49.6 50.7 50.8 54.2 58.7

58.3 59.3 60.0 61.4 65.7

62.2 62.4 60.1 61.6 65.2

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

60.6 61.8 64.4 67.7 69.2

59.9 63.1 67.8 72.0 72.7

60.9 63.9 69.1 73.6 74.7

67.0 70.2 74.9 80.5 82.0

59.8 63.0 67.3 71.3 71.6

49.2 52.8 58.9 61.8 61.3

64.8 67.9 70.6 75.3 77.1

58.7 61.2 66.3 72.1 75.1

66.3 68.4 72.0 76.2 77.0

58.7 60.1 64.4 67.3 72.2

85.1 85.8 88.6 92.3 94.4

64.5 67.7 71.4 76.2 78.0

61.9 64.8 69.0 74.2 75.1

67.5 69.5 72.9 77.0 77.2

66.9 68.1 71.7 74.8 76.1

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

70.3 70.0 72.0 73.3 76.3

71.4 69.5 70.6 71.0 73.4

75.1 73.2 74.0 73.3 74.7

81.0 78.4 79.1 79.3 80.9

69.4 67.3 68.1 68.9 72.1

58.9 59.2 62.0 62.9 65.5

76.4 73.6 74.9 76.0 76.6

75.8 73.4 77.2 78.2 80.3

77.7 76.5 77.9 78.7 80.2

73.8 76.3 76.7 76.7 79.2

96.5 94.6 95.7 96.7 96.1

78.8 77.3 77.3 78.4 80.8

75.3 74.8 76.9 78.0 79.6

77.7 75.4 76.4 76.7 78.0

77.1 77.3 79.9 81.0 82.7

1995 ........................... 1996 ........................... 1997 ...........................

78.8 82.1 86.3

76.4 79.6 84.0

79.2 81.5 86.7

82.5 84.7 87.5

74.4 78.1 82.2

70.4 75.8 80.1

78.9 80.5 85.6

80.2 83.6 87.3

81.9 84.6 87.7

83.5 85.1 88.6

93.2 91.5 92.4

81.8 83.6 87.3

81.5 85.0 87.7

79.6 82.8 86.3

85.3 87.2 90.2

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

88.4 92.4 96.5

85.8 90.2 94.0

90.2 93.8 95.7

93.5 94.1 96.6

82.0 87.3 92.7

84.0 90.6 93.2

90.0 91.5 94.0

87.8 91.5 95.7

89.9 93.2 96.6

90.4 91.9 97.0

93.6 94.5 99.3

90.4 93.7 97.3

91.9 94.6 96.8

87.2 90.8 95.2

92.7 96.3 98.4

100.0 100.9 102.7 105.5 110.1

100.0 101.0 101.0 103.6 108.4

100.0 100.6 99.6 102.1 106.7

100.0 101.3 104.1 106.8 110.9

100.0 101.0 100.5 102.7 107.7

100.0 100.2 102.0 105.3 110.9

100.0 101.9 103.5 108.0 111.7

100.0 103.9 106.2 110.8 115.8

100.0 102.3 103.3 106.3 110.7

100.0 103.4 105.2 110.8 116.4

100.0 104.6 107.1 109.8 116.6

100.0 104.0 106.9 110.2 115.5

100.0 103.0 105.5 108.1 111.8

100.0 101.8 101.0 104.1 109.0

100.0 101.4 103.4 106.1 109.3

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

QUANTITY INDEX

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

1Revised

2005, not continuous with previous years.

CHAPTER 21: REGIONAL AND STATE DATA

517

Table 21-1. Gross Domestic Product by Region and State—Continued (Billions of dollars; index numbers, 2000 = 100.) Great Lakes

Plains

Year Total

Illinois

Indiana

Michigan

Ohio

Wisconsin

Total

Iowa

Kansas

Minnesota

Missouri

Nebraska

North Dakota

South Dakota

VALUE 1977 ........................... 1978 ........................... 1979 ...........................

390.7 434.9 470.5

115.7 128.8 139.9

47.8 53.7 57.8

88.3 98.0 103.8

97.9 108.6 118.3

41.0 45.8 50.6

149.1 169.1 188.2

26.4 30.1 32.8

20.5 22.8 26.3

36.4 41.1 46.4

41.7 46.9 51.4

13.7 15.7 17.3

5.3 6.5 7.3

5.2 6.0 6.8

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

483.6 530.7 539.2 577.7 650.8

146.4 160.8 165.2 173.5 194.7

58.7 64.6 64.7 69.0 78.6

102.4 113.0 113.4 125.5 141.5

122.7 134.2 135.9 146.1 165.4

53.4 58.0 60.0 63.7 70.7

198.1 222.1 228.0 239.7 270.3

34.0 37.9 36.9 37.0 41.0

28.2 32.0 33.5 35.2 38.4

49.7 55.0 57.0 61.0 70.3

53.4 58.7 61.6 66.5 75.9

18.1 20.8 21.2 21.7 24.6

7.7 10.0 10.0 10.1 10.7

6.9 7.8 7.8 8.2 9.3

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

690.7 729.2 763.8 823.4 872.2

206.5 218.5 230.6 251.1 265.2

81.8 86.1 91.2 98.7 106.5

151.8 161.5 166.9 177.4 186.7

176.0 184.5 192.8 206.3 218.5

74.6 78.5 82.4 89.9 95.4

283.6 293.8 310.6 331.9 353.2

42.4 43.1 45.1 48.9 52.8

40.8 41.7 43.9 46.3 48.3

74.8 78.2 83.9 90.0 96.2

79.4 84.7 89.8 96.5 102.0

25.8 26.1 26.8 29.3 31.4

10.7 9.8 10.3 9.7 10.7

9.7 10.2 10.7 11.2 11.9

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

905.7 934.3 997.9 1 046.9 1 137.5

277.2 286.6 304.0 317.2 343.4

110.1 113.8 123.6 130.6 141.2

189.7 194.3 207.4 221.3 246.1

228.3 234.7 250.2 258.3 278.5

100.3 104.9 112.8 119.6 128.4

369.7 385.5 410.2 421.9 458.0

55.9 57.7 61.3 62.7 69.2

51.3 53.3 56.1 57.9 61.8

100.3 103.8 111.9 114.9 124.7

104.1 109.5 115.2 118.3 128.5

33.8 35.6 38.0 39.1 42.8

11.5 11.7 12.8 12.9 14.0

12.8 13.8 14.9 16.0 17.0

1995 ........................... 1996 ........................... 1997 ...........................

1 186.1 1 243.8 1 318.3

359.7 377.3 401.1

148.0 155.5 164.2

251.0 263.9 278.8

293.3 305.4 325.4

134.1 141.8 148.8

481.3 515.4 546.5

71.9 77.2 81.9

63.7 68.0 72.5

131.4 141.7 152.3

137.5 145.0 154.5

44.5 48.3 49.8

14.5 16.1 16.1

17.8 19.1 19.5

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

1 354.8 1 420.1 1 485.8

404.0 423.7 443.7

168.1 178.7 185.9

299.0 308.8 326.7

332.1 348.6 360.1

151.5 160.3 169.3

554.8 580.0 600.5

81.9 83.8 86.5

72.1 76.2 79.2

155.9 166.5 173.3

158.2 163.1 169.0

50.5 52.2 53.6

16.3 17.4 17.2

19.8 20.8 21.7

2000 1 2001 1 2002 1 2003 1 2004 1

1 543.6 1 565.6 1 611.7 1 669.5 1 753.1

464.3 476.9 486.2 499.7 521.9

194.7 195.8 203.3 213.3 227.6

337.2 335.8 347.0 359.4 372.2

371.2 374.8 385.7 398.9 419.9

176.2 182.4 189.5 198.1 211.6

633.2 653.4 680.4 714.0 757.4

90.8 92.9 97.8 102.4 111.1

83.4 87.2 89.9 93.3 98.9

185.4 190.6 199.3 210.2 223.8

176.4 182.0 187.1 193.8 203.3

55.7 57.8 60.6 65.4 68.2

18.1 18.8 20.0 21.6 22.7

23.2 24.1 25.8 27.3 29.4

1977 ........................... 1978 ........................... 1979 ...........................

57.7 60.1 60.7

56.7 59.2 60.0

54.5 57.1 57.3

63.7 66.1 65.3

58.9 61.1 62.1

50.8 53.2 54.9

52.3 55.1 57.0

58.6 62.0 63.2

56.7 58.2 61.8

43.4 45.7 47.8

55.6 58.4 59.8

52.5 55.7 57.2

62.3 69.8 71.8

48.1 51.5 53.8

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

57.8 58.2 55.6 57.3 62.0

58.1 58.8 56.7 57.2 61.5

54.2 54.9 51.8 52.9 57.9

59.4 59.6 55.8 59.5 64.6

59.6 60.1 57.0 59.2 64.5

54.1 54.3 53.1 54.0 57.5

55.8 57.7 56.3 56.5 61.1

62.0 64.2 60.0 57.2 61.0

61.0 62.9 62.3 62.4 65.4

47.7 49.1 48.3 49.6 54.9

57.6 58.1 57.4 59.1 64.5

56.6 60.0 58.7 57.0 61.6

69.0 79.4 76.4 74.5 76.6

51.6 54.6 53.0 52.2 56.5

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

64.1 65.1 66.8 69.8 71.2

63.2 64.5 66.6 70.1 71.4

59.1 60.1 62.3 65.2 67.7

67.6 68.9 69.5 72.1 73.0

66.9 67.6 69.3 71.7 73.1

59.6 60.5 61.9 65.6 66.9

63.0 63.2 65.2 67.4 69.1

62.6 61.8 63.1 66.4 68.9

68.2 68.2 70.3 71.8 72.3

57.3 57.7 60.5 62.6 64.4

65.5 67.2 69.5 72.2 73.6

64.3 63.0 63.2 66.6 68.7

77.2 71.6 73.3 67.3 71.2

58.9 59.5 60.8 61.2 62.2

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

71.5 71.1 74.1 75.8 80.3

72.1 71.9 74.5 75.7 80.1

67.9 67.9 72.1 74.3 78.4

71.8 70.6 73.2 75.9 82.2

73.9 73.3 76.3 76.8 80.8

68.0 68.9 72.6 75.3 78.9

69.9 70.7 73.5 73.7 78.1

70.8 71.1 74.2 74.2 80.0

73.8 74.5 76.5 76.8 80.2

65.0 65.0 68.6 68.6 72.6

72.6 73.6 75.5 75.5 79.9

71.6 73.7 76.8 77.1 82.6

73.5 73.3 78.7 77.5 82.7

65.4 68.7 72.1 75.8 78.8

1995 ........................... 1996 ........................... 1997 ...........................

82.2 85.1 89.0

82.3 85.2 89.2

80.8 84.0 87.7

82.3 85.1 88.9

83.5 85.9 90.4

80.4 84.1 87.6

80.4 84.5 88.8

82.1 86.5 91.6

81.1 84.5 89.2

74.6 79.3 84.3

83.8 87.0 91.3

84.1 88.9 91.2

84.0 90.1 90.0

80.9 84.4 86.3

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

92.6 95.6 98.2

91.5 94.7 97.5

90.8 95.0 97.3

94.1 95.6 98.9

94.4 97.6 99.1

90.9 94.5 98.0

92.1 95.1 96.8

94.4 95.3 96.9

91.2 95.4 97.4

87.9 92.9 95.3

95.3 96.6 98.0

94.7 96.6 98.0

94.2 99.9 97.2

86.8 90.9 94.5

100.0 99.0 100.1 102.0 104.4

100.0 100.2 100.3 101.3 103.2

100.0 98.0 100.2 103.4 107.3

100.0 97.3 99.0 101.1 102.3

100.0 98.5 99.5 101.2 103.8

100.0 100.9 102.8 105.7 110.0

100.0 100.6 102.8 105.6 109.2

100.0 99.4 102.7 105.2 111.1

100.0 101.5 102.8 104.1 107.8

100.0 100.6 103.4 107.1 111.2

100.0 100.6 101.2 102.9 105.4

100.0 100.8 103.4 108.9 110.5

100.0 100.7 105.3 110.1 112.5

100.0 101.4 106.3 110.2 115.2

........................ ........................ ........................ ........................ ........................

QUANTITY INDEX

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

1Revised

2005, not continuous with previous years.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

518

Table 21-1. Gross Domestic Product by Region and State—Continued (Billions of dollars; index numbers, 2000 = 100.) Southeast Year Total

Alabama

Arkansas

Florida

Georgia

Kentucky

Louisiana

Mississippi

North Carolina

South Carolina

Tennessee

Virginia

West Virginia

VALUE 1977 ........................... 1978 ........................... 1979 ...........................

389.5 443.5 494.8

26.5 30.4 33.5

15.0 17.3 18.9

66.3 77.1 88.2

40.9 46.3 51.6

28.6 32.1 35.2

39.6 45.2 51.8

16.0 17.9 20.2

44.0 50.2 54.9

20.3 23.2 25.8

33.7 38.4 42.4

44.0 49.2 54.4

14.7 16.3 17.7

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

546.9 621.0 651.7 707.2 796.8

36.0 40.1 41.5 45.2 49.7

20.1 22.7 23.3 25.0 28.2

100.6 115.3 124.8 139.5 158.8

56.3 63.7 68.3 76.6 88.6

36.6 40.7 41.7 43.4 48.8

64.0 77.6 78.5 77.3 83.0

21.5 24.3 24.9 26.2 29.1

59.3 66.4 69.4 78.2 89.3

28.0 31.5 32.8 36.3 41.9

45.4 50.7 52.4 57.5 64.6

60.0 67.6 72.9 81.0 91.8

19.0 20.5 21.3 21.0 22.8

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

858.2 906.3 976.6 1 058.7 1 125.2

53.7 56.0 60.6 65.4 67.9

29.1 30.4 32.2 34.5 36.6

173.8 188.1 206.9 226.6 243.3

98.7 108.4 116.8 126.1 133.1

51.5 53.3 56.6 60.7 64.7

84.8 75.9 76.5 82.3 86.2

30.6 31.3 33.6 35.7 37.3

98.0 106.2 114.1 125.2 134.6

44.8 48.5 53.2 58.0 62.0

69.3 74.1 81.2 87.5 91.9

100.4 110.0 120.1 130.4 140.2

23.6 24.0 24.7 26.2 27.3

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

1 181.7 1 234.4 1 309.7 1 384.0 1 485.3

71.1 75.3 80.4 83.5 88.6

38.1 41.0 44.3 46.6 50.2

257.2 267.9 283.8 302.1 322.1

139.5 146.3 158.3 169.0 184.3

67.5 70.5 76.6 80.4 86.3

93.6 94.3 88.9 93.2 101.9

38.8 40.8 43.7 46.7 50.6

140.3 146.5 159.2 167.2 179.6

65.7 68.4 71.6 75.5 81.0

94.6 101.4 111.3 118.9 128.9

147.0 152.7 160.5 168.6 177.0

28.3 29.4 31.0 32.4 34.9

1995 ........................... 1996 ........................... 1997 ...........................

1 575.5 1 664.3 1 768.9

94.0 97.9 97.5

53.3 56.5 58.7

340.5 363.0 384.0

199.1 215.1 230.4

90.5 95.0 101.8

109.2 115.0 121.7

53.8 56.0 58.3

191.6 201.3 223.0

86.1 89.3 94.9

135.7 141.3 151.0

185.5 196.6 208.6

36.4 37.3 38.5

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

1 797.9 1 901.2 2 018.9

102.4 106.2 111.8

59.2 61.4 65.2

391.5 416.2 442.5

237.5 255.5 277.3

105.7 109.9 114.4

113.3 118.7 125.4

58.0 60.3 62.9

228.9 242.9 257.6

97.4 103.3 109.2

153.4 160.8 169.4

211.9 226.3 241.9

38.8 39.7 41.3

2000 1 2001 1 2002 1 2003 1 2004 1

2 116.6 2 209.1 2 298.3 2 422.1 2 597.4

114.2 118.3 123.8 130.8 139.8

66.2 68.6 71.2 74.5 80.9

470.1 496.9 522.3 553.7 599.1

291.0 299.5 307.4 321.2 343.1

112.7 116.5 121.6 128.3 136.4

134.8 137.6 134.4 144.3 152.9

64.1 65.7 68.6 71.9 76.2

274.3 287.3 301.3 315.5 336.4

112.8 117.8 122.3 128.0 136.1

174.3 180.2 191.4 203.1 217.6

260.3 277.2 288.8 304.1 329.3

41.7 43.5 45.3 46.7 49.5

1977 ........................... 1978 ........................... 1979 ...........................

44.2 46.9 48.4

52.2 55.6 57.1

49.3 52.9 53.6

35.2 38.3 40.9

33.3 35.3 37.0

53.1 55.5 56.9

73.1 76.6 75.7

54.4 56.2 58.3

40.2 42.7 44.0

40.5 43.5 45.4

43.9 46.9 48.4

44.8 46.9 48.5

73.7 75.2 76.0

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

49.0 50.6 50.0 51.9 56.1

56.8 57.8 56.3 58.9 62.0

52.8 54.7 53.2 54.9 59.3

43.1 45.1 45.8 48.5 52.6

37.4 38.8 39.3 41.9 46.2

55.3 56.9 54.9 54.7 59.3

78.0 80.5 77.4 76.5 81.1

57.3 59.3 57.4 58.5 62.7

44.2 45.7 44.7 47.0 51.3

45.7 47.3 46.4 49.3 54.3

47.9 49.1 48.0 50.6 54.5

49.3 50.7 50.9 53.2 57.1

75.8 74.8 72.9 70.1 74.1

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

58.7 60.4 63.3 66.4 67.9

65.2 65.9 69.5 72.4 72.4

60.1 61.1 63.1 65.5 66.9

55.4 57.6 61.3 64.8 67.1

49.8 52.7 55.1 57.4 58.5

61.4 61.2 63.7 66.3 68.2

82.5 80.5 80.2 84.3 83.8

64.7 64.5 68.3 70.0 70.6

54.7 56.8 59.1 62.5 64.4

56.4 58.9 62.9 66.1 68.3

56.7 58.5 62.4 64.9 65.7

60.0 63.1 66.7 69.9 72.3

74.8 75.3 76.1 78.5 79.3

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

68.8 69.3 71.7 73.9 77.8

73.6 75.5 78.8 79.7 82.6

67.5 70.5 74.6 76.6 80.6

68.4 68.6 70.9 73.3 76.2

59.3 60.0 63.3 65.9 70.4

69.0 69.4 73.4 75.4 80.0

85.3 85.0 79.2 80.6 87.1

70.7 72.1 75.5 78.4 83.2

64.7 64.6 68.1 70.0 74.9

70.3 70.7 72.4 74.7 78.5

65.3 67.5 72.4 75.3 79.7

73.1 72.6 74.0 75.8 78.4

80.5 81.1 84.1 86.4 91.0

1995 ........................... 1996 ........................... 1997 ...........................

80.9 84.1 88.0

85.2 87.8 90.8

83.9 87.5 90.5

78.8 82.7 86.1

74.3 79.2 83.5

82.8 85.7 90.9

91.5 92.3 95.6

87.1 89.3 91.7

78.6 81.4 87.1

81.3 83.5 87.9

82.2 84.6 89.1

80.4 83.7 87.1

93.3 95.2 96.9

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

90.2 94.1 98.0

94.2 96.4 100.0

94.4 96.3 100.7

88.2 92.4 96.4

86.2 91.4 97.3

99.0 101.4 103.5

95.7 101.1 103.4

96.1 98.5 100.7

87.4 91.5 95.4

91.6 95.3 98.8

93.5 96.4 99.4

86.8 91.2 95.2

97.4 98.4 101.3

100.0 101.6 103.7 107.0 112.1

100.0 100.9 103.5 107.4 112.0

100.0 100.7 102.8 105.4 110.9

100.0 103.0 105.9 110.2 116.6

100.0 100.6 101.3 104.1 108.8

100.0 100.7 103.1 106.9 110.9

100.0 98.2 96.9 97.0 99.1

100.0 99.4 101.7 103.9 107.3

100.0 102.0 104.6 107.9 112.6

100.0 101.5 103.2 106.3 110.6

100.0 100.9 105.1 109.7 114.8

100.0 103.8 105.5 109.1 115.9

100.0 100.9 102.4 103.5 106.3

........................ ........................ ........................ ........................ ........................

QUANTITY INDEX

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

1Revised

2005, not continuous with previous years.

CHAPTER 21: REGIONAL AND STATE DATA

519

Table 21-1. Gross Domestic Product by Region and State—Continued (Billions of dollars; index numbers, 2000 = 100.) Southwest

Rocky Mountain

Year Total

Arizona

New Mexico

Oklahoma

Texas

Total

Colorado

Idaho

Montana

Utah

Wyoming

VALUE 1977 ........................... 1978 ........................... 1979 ...........................

184.5 211.6 245.0

19.4 23.0 27.3

10.3 11.7 13.4

24.0 27.2 31.7

130.8 149.7 172.6

54.6 63.9 73.1

25.1 29.2 33.7

7.1 8.4 9.2

6.4 7.5 8.2

10.4 12.1 13.8

5.5 6.7 8.2

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

288.9 345.7 367.0 375.7 412.8

30.4 33.7 35.0 38.8 45.2

16.0 18.9 19.7 20.4 22.1

37.8 45.8 49.8 48.3 52.0

204.6 247.3 262.5 268.2 293.5

83.1 95.2 99.8 104.8 114.7

38.2 43.8 47.4 50.4 55.9

9.8 10.6 10.6 11.7 12.5

9.0 10.3 10.4 10.7 11.2

15.4 17.5 18.5 19.9 22.4

10.6 13.0 12.9 12.0 12.7

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

439.5 425.6 433.4 471.7 501.2

50.1 55.2 59.2 63.6 66.4

23.3 22.4 23.0 23.8 25.3

53.6 49.2 48.9 52.7 54.8

312.6 298.8 302.4 331.6 354.7

120.7 120.1 124.6 132.0 140.0

59.3 60.1 62.9 66.3 69.6

13.0 13.1 13.8 15.1 16.8

11.2 11.2 11.7 11.9 12.8

24.4 24.6 25.3 27.4 28.9

12.8 11.1 11.0 11.3 11.9

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

538.0 561.1 596.3 635.9 681.7

69.3 72.3 79.7 85.2 95.3

26.9 30.5 32.6 36.5 41.1

57.7 59.5 62.0 65.0 67.1

384.1 398.9 422.1 449.2 478.1

150.0 158.2 169.5 183.6 198.5

74.2 78.6 85.1 92.5 100.4

17.8 18.6 20.3 22.7 24.8

13.4 14.1 15.0 16.1 17.0

31.4 33.7 35.7 38.4 42.2

13.2 13.3 13.3 13.9 14.1

1995 ........................... 1996 ........................... 1997 ...........................

722.5 781.7 855.2

104.0 113.1 122.9

41.5 43.7 47.6

69.6 74.9 79.5

507.4 550.0 605.3

213.4 229.4 246.7

108.0 116.0 127.9

27.1 28.2 29.4

17.4 18.0 18.8

46.3 51.4 54.6

14.6 15.7 16.0

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

852.3 891.2 948.7

127.4 137.1 147.9

47.4 45.9 49.3

78.0 79.9 83.9

599.5 628.3 667.6

252.0 268.4 290.1

132.9 143.4 156.6

28.5 29.9 32.8

19.1 19.8 20.4

56.6 60.3 64.1

14.9 15.0 16.1

1 020.7 1 059.2 1 097.3 1 163.5 1 252.7

157.6 164.3 173.1 183.3 200.0

50.4 50.9 53.4 57.1 61.0

89.9 92.6 95.3 101.2 107.6

722.8 751.4 775.5 821.9 884.1

313.3 326.4 337.4 353.3 377.6

171.4 177.5 181.2 188.4 200.0

35.2 36.6 38.3 40.4 43.6

21.4 22.6 23.9 25.6 27.5

67.9 70.5 73.6 76.7 82.6

17.4 19.1 20.3 22.3 24.0

1977 ........................... 1978 ........................... 1979 ...........................

42.3 44.8 46.7

28.7 31.7 34.8

43.0 45.4 45.9

62.0 64.8 67.9

42.8 45.2 46.7

40.9 44.2 46.3

36.6 39.6 42.3

38.6 41.9 42.6

68.3 73.3 73.4

36.7 39.6 41.6

63.2 69.3 72.2

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

48.5 51.1 51.3 51.3 54.7

35.7 36.5 35.5 37.5 41.8

47.5 48.2 47.6 48.4 51.0

71.2 75.4 77.7 74.1 77.8

48.5 51.4 51.7 51.7 55.0

47.8 49.6 49.2 49.6 52.4

43.7 45.6 46.6 47.2 50.0

43.0 43.2 41.4 43.1 44.2

73.7 76.7 73.6 73.1 74.1

42.6 44.2 43.9 45.3 49.0

79.5 82.7 78.0 73.6 77.6

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

57.1 55.8 55.6 58.8 60.0

44.8 47.5 49.3 51.2 51.6

53.0 52.1 52.0 52.4 53.6

79.1 74.0 72.3 76.0 75.9

57.4 55.6 55.2 58.8 60.4

53.8 52.8 53.4 54.9 56.1

51.2 50.5 51.4 52.6 53.2

45.6 44.5 45.5 48.0 51.1

72.7 71.9 72.6 71.4 74.4

52.0 51.2 51.3 53.8 54.6

78.8 74.9 73.5 76.1 76.6

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

61.5 62.6 65.4 67.9 71.6

52.1 52.5 56.6 58.9 64.4

54.6 60.5 63.7 70.0 78.2

76.4 76.7 78.4 80.1 81.3

62.3 63.3 65.8 68.2 71.5

57.9 59.4 62.3 65.8 69.7

54.6 55.9 59.1 62.6 66.5

52.7 53.8 57.5 62.4 66.8

75.4 77.3 81.0 84.2 86.6

57.5 59.7 61.8 64.8 69.5

80.3 81.8 82.0 84.2 85.5

1995 ........................... 1996 ........................... 1997 ...........................

74.8 79.2 85.4

69.1 74.6 80.2

79.3 82.5 89.8

82.8 86.9 90.8

74.8 79.0 85.5

73.5 77.5 82.2

70.1 73.8 80.0

72.5 74.7 78.0

86.9 88.4 91.1

74.4 81.5 85.0

87.8 90.3 90.9

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

86.5 91.4 96.3

80.8 87.7 94.5

90.8 91.2 99.2

92.2 94.2 97.0

86.8 91.9 96.3

83.9 88.7 94.6

80.5 86.4 93.1

81.7 85.4 93.6

94.1 96.3 97.9

88.5 92.9 97.0

91.8 93.3 98.5

100.0 101.7 104.6 107.1 112.2

100.0 103.0 106.6 111.4 119.2

100.0 100.1 104.1 107.5 112.1

100.0 100.5 102.2 104.3 107.8

100.0 101.7 104.5 106.4 111.3

100.0 101.9 103.5 106.1 110.7

100.0 101.6 101.9 104.1 108.2

100.0 102.8 106.3 110.3 116.8

100.0 102.2 105.9 110.0 114.7

100.0 101.1 103.2 105.5 111.0

100.0 105.7 112.1 114.4 118.1

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

QUANTITY INDEX

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

1Revised

2005, not continuous with previous years.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

520

Table 21-1. Gross Domestic Product by Region and State—Continued (Billions of dollars; index numbers, 2000 = 100.) Far West Year Total

Alaska

California

Hawaii

Nevada

Oregon

Washington

VALUE 1977 ........................... 1978 ........................... 1979 ...........................

311.5 358.2 402.6

7.5 9.1 10.9

228.5 261.5 291.9

9.4 10.5 11.9

7.5 9.1 10.6

22.3 25.9 29.0

36.3 42.2 48.4

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

447.6 504.9 536.4 579.5 653.1

15.1 21.7 23.3 22.5 23.8

324.4 365.2 389.9 423.9 483.2

13.3 14.5 15.4 16.8 18.6

12.0 13.6 14.2 15.4 17.0

30.5 32.0 31.9 34.0 37.9

52.2 58.0 61.6 66.8 72.6

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

708.7 753.2 820.8 897.2 973.1

26.2 18.8 22.3 21.3 23.4

528.0 568.4 620.2 678.8 734.4

20.0 21.5 23.3 25.7 28.4

18.5 20.2 22.4 25.5 28.6

40.1 42.3 45.0 49.6 53.3

75.9 81.9 87.7 96.2 105.1

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

1 050.0 1 073.3 1 108.5 1 140.6 1 187.9

25.0 22.2 22.6 23.0 23.1

788.3 801.2 819.4 833.7 862.5

31.9 33.6 35.2 35.9 36.3

31.8 33.6 36.5 40.0 44.9

57.3 60.1 63.7 69.2 74.4

115.6 122.7 131.1 138.8 146.7

1995 ........................... 1996 ........................... 1997 ...........................

1 250.8 1 328.5 1 424.3

24.8 26.1 26.9

909.0 958.5 1 028.6

36.6 37.0 37.9

49.0 54.1 58.9

80.1 91.2 81.9

151.3 161.8 174.4

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

1 416.6 1 507.5 1 635.2

25.0 23.2 24.6

1 019.2 1 086.6 1 183.6

37.5 37.6 38.7

59.9 64.0 69.5

96.6 101.1 104.6

178.3 195.0 214.2

2000 1 2001 1 2002 1 2003 1 2004 1

1 768.0 1 792.1 1 868.6 1 971.3 2 125.1

27.6 27.4 29.7 31.7 34.0

1 291.1 1 307.9 1 363.6 1 438.1 1 550.8

40.2 41.7 43.8 46.7 50.3

74.8 78.1 82.4 89.7 100.3

113.0 111.4 115.1 120.0 128.1

221.3 225.7 234.0 245.1 261.5

1977 ........................... 1978 ........................... 1979 ...........................

40.9 43.8 45.7

66.3 72.4 76.0

40.8 43.6 45.2

61.4 64.0 67.6

26.7 30.0 32.2

38.7 41.2 42.9

41.3 44.7 47.6

1980 1981 1982 1983 1984

........................... ........................... ........................... ........................... ...........................

46.8 48.2 48.1 49.7 53.6

87.3 100.6 103.6 101.0 105.5

46.3 47.9 47.9 49.8 54.3

69.3 68.0 68.0 70.4 72.9

33.2 34.4 33.9 34.9 36.8

42.5 41.2 38.9 39.2 41.8

47.7 48.9 48.9 49.9 51.6

1985 1986 1987 1988 1989

........................... ........................... ........................... ........................... ...........................

56.3 58.1 61.5 65.0 67.9

117.3 96.0 112.2 109.0 112.7

57.4 59.7 63.3 67.1 69.9

74.9 77.2 80.8 85.7 91.3

38.4 40.3 42.7 46.4 50.3

43.0 43.7 45.0 47.9 49.4

52.2 54.3 56.4 59.6 62.7

1990 1991 1992 1993 1994

........................... ........................... ........................... ........................... ...........................

70.5 69.6 70.2 70.2 71.5

112.0 100.2 101.3 100.3 100.1

72.2 70.8 70.7 70.0 70.8

98.9 99.8 101.9 101.1 99.6

54.4 55.5 59.0 63.2 68.9

51.4 52.2 53.9 56.6 59.5

66.6 68.1 70.8 72.7 74.9

1995 ........................... 1996 ........................... 1997 ...........................

73.9 77.2 81.5

105.0 103.6 104.8

73.4 76.1 80.5

98.3 97.4 97.6

73.1 79.7 84.8

63.1 71.7 76.5

75.3 79.1 84.0

1997 1 ........................ 1998 1 ........................ 1999 1 ........................

82.6 87.6 94.1

101.9 97.3 99.3

80.8 86.0 93.0

100.6 98.6 99.1

86.2 89.9 95.3

84.6 89.5 92.7

85.2 91.9 99.1

100.0 99.7 102.3 105.8 111.6

100.0 95.8 104.0 101.9 105.3

100.0 99.8 102.6 106.1 112.0

100.0 100.9 103.0 106.9 113.4

100.0 101.5 104.5 111.8 122.2

100.0 98.2 100.0 102.8 107.5

100.0 99.4 101.0 103.8 108.4

........................ ........................ ........................ ........................ ........................

QUANTITY INDEX

2000 1 2001 1 2002 1 2003 1 2004 1

........................ ........................ ........................ ........................ ........................

1Revised

2005, not continuous with previous years.

CHAPTER 21: REGIONAL AND STATE DATA

521

Table 21-2. Personal Income and Employment by Region and State (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

UNITED STATES 1958 ................................. 1959 .................................

367 249 391 286

292 629 317 047

15 252 13 034

307 881 330 081

11 371 13 824

-204 -217

296 306 316 040

47 413 50 939

23 529 24 306

2 109 2 209

1 888 1 970

174 153 177 136

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

408 376 425 829 453 276 476 109 510 599

330 712 341 270 364 933 384 082 413 156

13 561 14 265 14 329 14 167 13 017

344 273 355 535 379 262 398 249 426 173

16 349 16 905 19 011 21 548 22 247

-285 -279 -233 -208 -207

327 639 338 351 360 018 376 493 403 719

54 997 58 028 62 866 67 407 73 376

25 740 29 450 30 392 32 209 33 504

2 269 2 327 2 440 2 527 2 672

2 014 2 070 2 164 2 238 2 400

179 972 182 976 185 739 188 434 191 085

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

551 432 598 615 642 212 705 105 772 235

443 773 489 059 523 648 576 211 631 338

15 369 16 397 15 077 15 276 17 243

459 142 505 456 538 725 591 487 648 581

23 268 31 127 34 558 38 338 43 792

-152 -143 -143 -170 -163

435 722 474 186 504 024 552 979 604 626

79 532 84 812 90 174 96 032 105 287

36 178 39 617 48 014 56 094 62 322

2 850 3 062 3 254 3 538 3 836

2 553 2 723 2 885 3 104 3 321

193 457 195 499 197 375 199 312 201 298

... ... ... ... 91 057

1970 1971 1972 1973 1974

................................. 832 429 ................................. 897 952 ................................. 987 137 ................................. 1 105 605 ................................. 1 217 556

671 582 719 396 793 438 884 639 968 564

17 463 17 970 21 733 34 658 29 813

689 045 737 366 815 171 919 297 998 377

46 012 50 859 58 897 75 183 84 873

-175 -198 -229 -244 -264

642 858 686 309 756 045 843 870 913 240

114 838 123 395 132 962 148 887 170 677

74 733 88 248 98 130 112 848 133 639

4 085 4 342 4 717 5 231 5 707

3 582 3 853 4 129 4 607 5 002

203 799 206 818 209 275 211 349 213 334

91 282 91 586 94 317 98 433 100 118

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

1 329 892 1 469 467 1 627 310 1 831 117 2 053 827

1 034 062 1 160 623 1 295 462 1 467 160 1 641 985

28 873 24 993 24 254 28 073 29 875

1 062 935 1 185 616 1 319 716 1 495 233 1 671 860

88 975 100 987 112 699 130 827 152 274

-313 -339 -377 -410 -398

973 647 1 084 290 1 206 640 1 363 996 1 519 188

185 821 200 695 225 919 256 812 298 510

170 424 184 482 194 751 210 309 236 129

6 172 6 754 7 405 8 245 9 146

5 489 5 965 6 509 7 215 7 952

215 457 217 554 219 761 222 098 224 569

98 907 101 597 105 049 109 689 113 289

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

2 298 255 2 580 600 2 764 886 2 949 883 3 275 805

1 795 158 1 969 935 2 066 560 2 206 755 2 452 535

20 392 27 169 24 558 17 235 31 814

1 815 550 1 997 104 2 091 118 2 223 990 2 484 349

165 669 195 066 208 173 225 148 256 554

-454 -443 -520 -508 -579

1 649 427 1 801 595 1 882 425 1 998 334 2 227 216

368 611 459 858 527 092 567 273 647 861

280 217 319 147 355 369 384 276 400 728

10 114 11 246 11 935 12 618 13 891

8 802 9 746 10 410 11 114 12 294

227 225 229 466 231 664 233 792 235 825

114 231 115 304 114 557 116 057 121 091

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

3 511 344 3 708 199 3 934 655 4 237 460 4 571 133

2 639 477 2 798 353 2 997 457 3 253 621 3 446 466

31 950 33 079 39 409 39 109 45 677

2 671 427 2 831 432 3 036 866 3 292 730 3 492 143

280 384 302 395 322 010 360 256 383 938

-603 -575 -608 -651 -664

2 390 440 2 528 462 2 714 248 2 931 823 3 107 541

695 617 728 615 752 842 809 089 920 199

425 287 451 122 467 565 496 548 543 393

14 758 15 442 16 240 17 331 18 520

13 008 13 626 14 226 15 271 16 231

237 924 240 133 242 289 244 499 246 819

124 510 126 970 130 400 134 507 137 200

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

4 861 936 5 032 196 5 349 384 5 548 121 5 833 906

3 655 379 3 762 522 4 017 224 4 191 800 4 395 182

46 760 41 579 49 550 47 244 49 932

3 702 139 3 804 101 4 066 774 4 239 044 4 445 114

408 654 428 560 453 745 476 585 507 172

-737 -788 -797 -798 -860

3 292 748 3 374 753 3 612 232 3 761 661 3 937 082

973 575 991 122 987 898 996 465 1 069 567

595 613 666 321 749 254 789 995 827 257

19 477 19 892 20 854 21 346 22 172

17 108 17 578 18 478 18 862 19 550

249 623 252 981 256 514 259 919 263 126

139 381 138 606 139 162 141 779 145 224

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

6 144 741 6 512 485 6 907 332 7 415 709 7 796 137

4 622 731 4 868 019 5 180 807 5 591 837 5 975 196

39 675 54 906 52 982 49 748 49 774

4 662 406 4 922 925 5 233 789 5 641 585 6 024 970

531 848 554 248 586 178 623 147 660 395

-893 -914 -969 -1 022 -1 030

4 129 665 4 367 763 4 646 642 5 017 416 5 363 545

1 137 710 1 219 791 1 309 556 1 419 686 1 410 543

877 366 924 931 951 134 978 607 1 022 049

23 076 24 175 25 334 26 883 27 939

20 286 21 089 21 941 23 163 23 974

266 278 269 394 272 647 275 854 279 040

148 983 152 150 155 608 159 628 162 955

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

8 422 074 8 716 992 8 872 521 9 156 108 9 702 525

6 460 197 6 665 188 6 817 887 7 071 108 7 505 434

44 482 42 811 33 081 47 425 61 175

6 504 679 6 707 999 6 850 968 7 118 533 7 566 609

701 650 730 005 748 787 775 196 820 790

-1 060 -1 093 -1 162 -1 198 -1 233

5 801 969 5 976 901 6 101 019 6 342 139 6 744 586

1 536 284 1 546 360 1 485 161 1 469 423 1 529 780

1 083 821 1 193 731 1 286 341 1 344 546 1 428 159

29 845 30 575 30 814 31 487 33 041

25 471 26 240 27 165 28 052 29 472

282 192 285 102 287 941 290 789 293 655

166 759 167 015 166 634 167 488 170 104

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

522

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ALABAMA 1958 ................................. 1959 .................................

4 595 4 837

3 670 3 934

304 248

3 974 4 181

135 159

1 1

3 839 4 024

412 451

344 363

1 453 1 510

1 331 1 382

3 163 3 204

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

5 042 5 199 5 465 5 821 6 327

4 091 4 193 4 425 4 695 5 159

255 245 224 271 245

4 346 4 438 4 649 4 966 5 404

187 194 219 259 265

2 2 4 6 8

4 161 4 247 4 434 4 713 5 146

496 523 564 613 668

385 429 468 496 513

1 540 1 568 1 645 1 734 1 864

1 404 1 435 1 494 1 577 1 705

3 274 3 316 3 323 3 358 3 395

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

6 884 7 384 7 801 8 526 9 384

5 625 6 157 6 524 7 103 7 734

254 241 206 227 277

5 879 6 398 6 730 7 330 8 011

273 376 429 472 551

10 15 21 24 137

5 616 6 038 6 323 6 882 7 597

718 747 787 843 895

551 599 690 801 891

1 999 2 132 2 256 2 474 2 728

1 825 1 929 2 040 2 221 2 412

3 443 3 464 3 458 3 446 3 440

... ... ... ... 1 411

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

10 202 11 199 12 466 14 103 15 715

8 284 9 013 10 050 11 284 12 656

247 276 345 532 335

8 531 9 289 10 395 11 816 12 991

590 655 765 983 1 136

136 144 171 188 198

8 076 8 778 9 801 11 021 12 053

1 029 1 136 1 234 1 401 1 651

1 097 1 284 1 431 1 681 2 010

2 957 3 202 3 521 3 939 4 332

2 657 2 889 3 152 3 527 3 874

3 450 3 497 3 540 3 581 3 628

1 413 1 423 1 471 1 526 1 552

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

17 537 19 851 21 914 24 773 27 615

13 669 15 672 17 571 19 942 22 041

410 475 380 504 516

14 079 16 148 17 951 20 447 22 557

1 221 1 421 1 595 1 840 2 102

204 218 247 270 297

13 061 14 944 16 603 18 877 20 753

1 876 2 068 2 317 2 634 3 061

2 600 2 839 2 995 3 262 3 801

4 765 5 312 5 793 6 461 7 137

4 307 4 773 5 199 5 782 6 355

3 681 3 737 3 783 3 834 3 869

1 543 1 594 1 651 1 714 1 739

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

30 564 34 004 35 988 38 491 42 692

23 944 25 812 26 702 28 731 31 793

205 485 407 289 476

24 149 26 297 27 110 29 020 32 270

2 281 2 648 2 787 3 053 3 428

328 427 448 441 493

22 196 24 076 24 771 26 409 29 335

3 908 4 920 5 681 6 087 7 020

4 460 5 008 5 536 5 996 6 337

7 836 8 678 9 168 9 784 10 803

6 966 7 698 8 216 8 766 9 731

3 900 3 919 3 925 3 934 3 952

1 736 1 724 1 692 1 722 1 787

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

45 944 48 553 51 502 55 120 59 911

34 347 36 390 38 824 41 549 43 962

462 453 537 800 934

34 809 36 843 39 361 42 349 44 896

3 740 3 937 4 163 4 651 4 972

503 525 533 529 548

31 572 33 432 35 731 38 228 40 472

7 678 8 158 8 652 9 467 11 047

6 694 6 963 7 119 7 426 8 391

11 566 12 164 12 826 13 698 14 865

10 352 10 889 11 419 12 287 13 266

3 973 3 992 4 015 4 024 4 030

1 831 1 868 1 923 1 982 2 019

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

63 679 67 250 71 977 74 863 79 265

46 896 49 183 52 870 55 245 58 052

820 1 097 990 1 001 1 055

47 716 50 280 53 860 56 246 59 107

5 317 5 674 6 061 6 437 6 899

525 555 610 659 751

42 924 45 161 48 408 50 468 52 958

11 528 11 899 11 974 12 097 13 285

9 227 10 191 11 595 12 298 13 021

15 723 16 406 17 327 17 764 18 606

14 047 14 714 15 578 15 941 16 637

4 050 4 099 4 154 4 214 4 260

2 061 2 073 2 110 2 172 2 193

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

83 534 86 972 91 419 97 012 100 662

60 851 63 130 65 943 69 795 73 138

798 918 998 1 095 1 307

61 649 64 048 66 940 70 890 74 445

7 276 7 512 7 863 8 212 8 569

827 837 938 1 049 1 116

55 200 57 374 60 015 63 728 66 992

14 302 14 810 15 979 17 454 17 154

14 033 14 788 15 425 15 830 16 517

19 441 20 081 20 930 22 025 22 722

17 344 17 842 18 528 19 500 20 095

4 297 4 331 4 368 4 405 4 430

2 256 2 290 2 335 2 385 2 405

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

105 807 110 421 113 784 118 481 125 167

76 023 79 205 82 503 86 290 91 461

955 1 242 852 1 285 1 482

76 977 80 448 83 355 87 575 92 943

8 783 9 146 9 483 9 874 10 396

1 238 1 252 1 264 1 310 1 380

69 433 72 554 75 136 79 011 83 926

18 725 18 739 18 073 17 778 18 130

17 648 19 129 20 576 21 692 23 111

23 764 24 714 25 392 26 307 27 630

21 046 21 991 22 913 23 951 25 169

4 452 4 468 4 481 4 504 4 530

2 416 2 393 2 387 2 397 2 444

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

523

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ALASKA 1958 ................................. 1959 .................................

559 592

533 566

2 1

535 567

22 24

0 0

513 544

25 27

21 21

2 494 2 645

... ...

224 224

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

701 698 731 790 890

673 664 697 758 855

2 2 1 1 1

675 666 698 758 856

28 28 29 33 37

-2 -3 -5 -8 -13

646 635 665 717 806

33 36 40 45 55

22 27 26 27 29

3 062 2 931 2 970 3 086 3 385

2 703 2 611 2 622 2 714 3 047

229 238 246 256 263

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

963 1 034 1 133 1 231 1 412

926 995 1 095 1 199 1 377

1 1 1 2 1

927 997 1 096 1 201 1 378

41 48 53 67 94

-18 -23 -30 -38 -26

869 926 1 012 1 096 1 258

63 74 82 87 100

31 34 39 48 54

3 554 3 814 4 075 4 319 4 769

3 149 3 392 3 620 3 822 4 071

271 271 278 285 296

... ... ... ... 144

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 602 1 772 1 945 2 274 2 809

1 564 1 729 1 904 2 113 2 839

2 2 2 2 2

1 566 1 730 1 905 2 115 2 841

105 118 134 165 241

-47 -61 -76 -94 -210

1 414 1 551 1 695 1 856 2 391

116 130 146 171 210

72 91 103 247 209

5 263 5 600 5 956 6 823 8 148

4 573 4 901 5 141 5 978 6 964

304 316 326 333 345

149 153 158 167 189

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

3 963 4 767 4 929 5 028 5 334

4 479 5 631 5 213 5 078 5 318

4 4 5 5 3

4 482 5 635 5 218 5 083 5 321

407 526 463 434 467

-614 -885 -454 -326 -289

3 462 4 224 4 301 4 324 4 565

264 309 350 406 477

237 233 278 299 293

10 683 12 125 12 405 12 501 13 219

9 055 10 279 10 554 10 819 11 291

371 393 397 402 404

227 243 237 237 241

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

6 025 6 934 8 335 9 365 10 019

5 962 6 965 8 057 8 985 9 678

3 2 3 2 2

5 965 6 967 8 060 8 987 9 680

527 666 775 851 947

-329 -473 -565 -623 -639

5 109 5 827 6 720 7 513 8 094

573 701 891 1 061 1 243

343 406 724 791 682

14 866 16 569 18 538 19 174 19 503

12 947 14 127 16 050 16 869 17 375

405 418 450 488 514

244 253 278 298 310

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

10 821 10 780 10 440 10 789 11 834

10 137 9 835 9 294 9 583 10 444

2 7 9 11 5

10 139 9 841 9 303 9 594 10 449

969 918 859 930 1 027

-632 -571 -533 -556 -618

8 539 8 353 7 911 8 108 8 804

1 396 1 431 1 490 1 564 1 793

886 996 1 038 1 117 1 237

20 321 19 807 19 357 19 907 21 628

18 184 17 938 17 373 17 972 19 231

532 544 539 542 547

318 311 312 318 330

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

12 617 13 207 14 004 14 709 15 113

11 042 11 579 12 222 12 689 12 874

8 8 8 11 12

11 050 11 588 12 230 12 699 12 886

1 097 1 164 1 228 1 305 1 357

-654 -700 -734 -753 -771

9 299 9 724 10 268 10 641 10 759

1 950 2 020 2 109 2 253 2 499

1 369 1 463 1 627 1 814 1 855

22 804 23 161 23 786 24 538 25 050

20 147 20 666 21 320 22 023 22 402

553 570 589 599 603

341 349 353 361 366

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

15 415 15 704 16 402 17 085 17 557

12 990 13 041 13 389 13 884 14 132

13 14 16 17 20

13 003 13 055 13 405 13 900 14 152

1 366 1 365 1 400 1 448 1 464

-778 -793 -783 -834 -832

10 859 10 897 11 222 11 619 11 856

2 624 2 728 2 928 3 015 2 970

1 932 2 079 2 252 2 451 2 730

25 504 25 805 26 759 27 560 28 100

22 822 23 003 23 765 24 401 24 932

604 609 613 620 625

367 371 377 383 384

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

18 741 20 050 20 709 21 403 22 340

14 859 16 202 17 037 17 886 19 082

15 16 16 15 16

14 874 16 218 17 053 17 901 19 098

1 527 1 629 1 718 1 781 1 893

-887 -937 -998 -1 015 -1 081

12 461 13 652 14 337 15 105 16 124

3 191 3 148 3 022 3 023 2 993

3 090 3 249 3 351 3 275 3 223

29 867 31 704 32 316 33 015 34 085

26 425 28 148 29 135 30 062 31 066

628 632 641 648 655

395 402 411 419 428

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

524

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ARIZONA 1958 ................................. 1959 .................................

2 258 2 496

1 771 1 975

130 124

1 901 2 099

79 95

-2 -2

1 820 2 001

303 342

135 153

1 893 1 979

1 710 1 776

1 193 1 261

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

2 728 2 970 3 198 3 358 3 600

2 165 2 329 2 527 2 680 2 853

127 134 136 111 129

2 293 2 462 2 664 2 790 2 981

117 125 139 162 167

-2 -2 -2 0 *

2 173 2 335 2 523 2 628 2 814

389 440 463 499 536

166 194 212 231 250

2 065 2 111 2 174 2 208 2 314

1 843 1 895 1 943 1 974 2 105

1 321 1 407 1 471 1 521 1 556

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

3 816 4 161 4 524 5 188 6 039

3 008 3 369 3 620 4 101 4 715

127 120 148 191 203

3 134 3 489 3 767 4 292 4 918

174 232 265 312 322

1 0 0 2 -26

2 961 3 257 3 502 3 982 4 570

572 600 644 770 977

282 305 377 435 492

2 409 2 578 2 748 3 084 3 477

2 191 2 333 2 473 2 754 3 053

1 584 1 614 1 646 1 682 1 737

... ... ... ... 711

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

6 884 7 855 9 010 10 450 11 814

5 320 6 070 7 060 8 237 9 076

180 201 205 239 384

5 499 6 270 7 265 8 476 9 460

362 430 525 695 791

-29 -28 -32 -31 -41

5 108 5 812 6 708 7 750 8 628

1 183 1 333 1 485 1 715 1 996

593 711 817 984 1 189

3 835 4 143 4 485 4 917 5 311

3 385 3 701 3 965 4 396 4 721

1 795 1 896 2 009 2 125 2 224

747 786 850 925 955

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

12 679 14 254 16 080 18 974 22 475

9 474 10 665 12 261 14 559 17 302

217 329 266 317 398

9 691 10 994 12 527 14 876 17 700

816 916 1 061 1 292 1 606

-47 -47 -56 -69 -71

8 828 10 031 11 409 13 515 16 023

2 190 2 399 2 746 3 289 3 981

1 661 1 825 1 924 2 171 2 471

5 545 6 071 6 625 7 536 8 518

5 045 5 487 5 945 6 705 7 530

2 286 2 348 2 427 2 518 2 639

935 976 1 048 1 149 1 241

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

26 073 29 889 31 598 34 656 39 524

19 463 21 780 22 582 24 757 28 362

476 414 397 327 527

19 939 22 194 22 979 25 083 28 890

1 810 2 178 2 300 2 581 3 019

-80 -14 -6 4 8

18 049 20 003 20 672 22 506 25 878

5 055 6 396 7 032 7 886 9 075

2 969 3 490 3 893 4 263 4 571

9 524 10 636 10 934 11 673 12 886

8 458 9 365 9 668 10 413 11 526

2 738 2 810 2 890 2 969 3 067

1 285 1 317 1 320 1 383 1 511

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

43 833 47 730 51 506 55 246 59 413

31 695 34 645 37 301 40 178 41 787

492 472 636 763 690

32 187 35 117 37 937 40 942 42 477

3 436 3 825 4 093 4 571 4 863

21 41 68 110 168

28 772 31 332 33 912 36 480 37 781

10 101 10 956 11 648 12 244 14 075

4 961 5 442 5 946 6 522 7 557

13 769 14 427 14 985 15 627 16 403

12 250 12 851 13 324 13 971 14 598

3 184 3 308 3 437 3 535 3 622

1 632 1 712 1 777 1 847 1 880

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

62 649 65 390 69 609 74 370 81 555

44 065 46 059 49 518 53 127 58 376

653 729 673 796 585

44 718 46 787 50 190 53 923 58 961

5 151 5 487 5 855 6 325 7 003

228 224 250 268 281

39 795 41 524 44 586 47 866 52 239

14 485 14 561 14 323 14 923 16 941

8 369 9 304 10 700 11 580 12 375

17 005 17 260 17 777 18 293 19 212

15 131 15 379 15 906 16 325 17 103

3 684 3 789 3 916 4 065 4 245

1 910 1 918 1 940 2 026 2 158

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

88 333 95 514 103 557 113 370 120 857

63 463 69 410 75 371 83 272 90 179

833 752 745 871 926

64 296 70 162 76 116 84 143 91 105

7 298 8 213 8 833 9 576 10 295

302 331 365 410 469

57 300 62 279 67 648 74 977 81 279

17 890 19 267 21 308 23 290 23 414

13 143 13 968 14 601 15 103 16 165

19 929 20 823 21 861 23 216 24 057

17 717 18 306 19 157 20 250 20 966

4 432 4 587 4 737 4 883 5 024

2 275 2 406 2 515 2 631 2 722

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

132 558 138 854 144 101 151 716 164 324

99 949 104 250 107 791 113 883 124 224

684 836 1 061 831 964

100 633 105 085 108 852 114 714 125 187

11 159 11 709 12 141 12 763 13 790

522 564 549 573 620

89 997 93 940 97 260 102 523 112 018

25 454 25 454 25 188 25 730 26 887

17 107 19 460 21 652 23 463 25 419

25 660 26 214 26 494 27 193 28 609

22 326 22 947 23 759 24 597 25 895

5 166 5 297 5 439 5 579 5 744

2 819 2 857 2 877 2 942 3 046

. . . = Not available. * = Less than $50,000, but the estimates for this item are included in the total.

CHAPTER 21: REGIONAL AND STATE DATA

525

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ARKANSAS 1958 ................................. 1959 .................................

2 254 2 476

1 606 1 727

283 364

1 889 2 091

66 79

-1 -1

1 823 2 011

222 240

209 225

1 306 1 410

1 209 1 302

1 726 1 756

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

2 503 2 715 2 893 3 073 3 338

1 785 1 894 2 082 2 228 2 416

310 365 320 318 356

2 095 2 258 2 402 2 546 2 772

92 95 109 126 137

-2 -2 -3 -4 -5

2 001 2 161 2 290 2 415 2 631

262 286 315 348 381

240 269 288 310 326

1 399 1 504 1 561 1 639 1 760

1 289 1 387 1 424 1 496 1 629

1 789 1 806 1 853 1 875 1 897

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

3 525 3 920 4 158 4 512 4 978

2 598 2 849 3 097 3 413 3 744

283 388 297 334 342

2 881 3 238 3 394 3 747 4 086

147 191 221 251 279

-6 -5 -5 -7 30

2 728 3 042 3 168 3 488 3 837

440 487 523 499 557

357 391 468 525 584

1 861 2 064 2 188 2 372 2 602

1 714 1 880 1 992 2 137 2 320

1 894 1 899 1 901 1 902 1 913

... ... ... ... 800

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

5 458 6 072 6 854 8 167 9 156

3 997 4 470 5 090 5 770 6 492

411 404 477 909 827

4 408 4 874 5 567 6 679 7 319

297 341 406 526 610

20 19 18 14 7

4 131 4 552 5 178 6 166 6 716

643 719 783 918 1 125

683 801 893 1 083 1 315

2 828 3 079 3 396 3 967 4 359

2 535 2 795 3 070 3 575 3 899

1 930 1 972 2 018 2 058 2 100

805 831 867 902 927

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

10 066 11 175 12 481 14 489 15 924

6 943 8 051 9 058 10 332 11 480

789 636 721 1 171 988

7 733 8 687 9 778 11 503 12 469

640 746 849 990 1 137

6 -4 -8 -14 -15

7 099 7 938 8 921 10 499 11 317

1 298 1 415 1 625 1 863 2 168

1 669 1 823 1 935 2 127 2 439

4 664 5 153 5 655 6 466 7 018

4 250 4 636 5 104 5 834 6 284

2 158 2 169 2 207 2 241 2 269

905 941 981 1 022 1 033

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

17 221 19 545 20 511 21 884 24 523

12 474 13 435 13 892 15 108 16 870

363 845 638 412 876

12 837 14 280 14 530 15 520 17 746

1 227 1 430 1 506 1 642 1 873

-3 -22 -18 -48 -68

11 607 12 828 13 006 13 830 15 806

2 726 3 446 3 949 4 205 4 682

2 888 3 270 3 556 3 849 4 035

7 524 8 523 8 940 9 491 10 571

6 704 7 605 7 927 8 520 9 564

2 289 2 293 2 294 2 306 2 320

1 035 1 030 1 014 1 043 1 084

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

26 203 27 307 28 308 30 223 32 334

17 956 18 898 19 854 21 094 22 306

858 798 931 1 343 1 229

18 815 19 696 20 785 22 436 23 535

2 010 2 153 2 262 2 517 2 686

-72 -94 -112 -146 -146

16 733 17 449 18 411 19 774 20 703

5 197 5 356 5 264 5 587 6 261

4 273 4 502 4 634 4 862 5 371

11 260 11 710 12 085 12 901 13 781

10 163 10 593 10 882 11 639 12 395

2 327 2 332 2 342 2 343 2 346

1 104 1 116 1 143 1 177 1 197

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

34 076 36 043 39 162 40 822 43 272

23 763 25 233 27 465 28 886 30 657

1 013 1 102 1 393 1 315 1 452

24 776 26 334 28 859 30 201 32 108

2 875 3 074 3 347 3 564 3 859

-210 -236 -259 -289 -312

21 692 23 024 25 252 26 348 27 937

6 572 6 611 6 771 6 946 7 420

5 813 6 408 7 139 7 528 7 915

14 460 15 124 16 209 16 619 17 350

12 987 13 625 14 621 14 977 15 563

2 357 2 383 2 416 2 456 2 494

1 211 1 238 1 263 1 309 1 337

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

45 829 48 679 50 955 53 810 56 052

32 388 33 700 35 253 37 573 39 646

1 496 1 910 1 887 1 615 1 813

33 883 35 610 37 140 39 188 41 459

4 070 4 223 4 427 4 659 4 884

-282 -273 -272 -275 -301

29 531 31 114 32 441 34 254 36 274

7 802 8 536 9 102 9 853 9 738

8 497 9 028 9 411 9 703 10 040

18 076 18 926 19 590 20 489 21 137

16 170 16 920 17 424 18 146 18 749

2 535 2 572 2 601 2 626 2 652

1 391 1 414 1 435 1 462 1 482

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

58 726 61 967 63 324 66 082 70 810

41 852 43 936 45 594 47 153 50 328

1 218 1 313 644 1 845 2 484

43 070 45 249 46 239 48 998 52 812

5 065 5 296 5 476 5 702 6 015

-346 -350 -380 -374 -396

37 659 39 604 40 382 42 922 46 401

10 411 10 558 10 184 9 876 10 173

10 656 11 805 12 758 13 285 14 236

21 925 23 018 23 388 24 226 25 724

19 375 20 439 21 056 22 035 23 432

2 679 2 692 2 708 2 728 2 753

1 504 1 499 1 497 1 501 1 524

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

526

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

CALIFORNIA 1958 ................................. 1959 .................................

38 676 42 432

30 512 34 008

1 335 1 413

31 847 35 421

1 112 1 423

-4 -5

30 731 33 992

5 721 6 167

2 223 2 273

2 599 2 743

2 312 2 432

14 880 15 467

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

44 846 47 529 51 304 54 800 59 452

35 878 37 964 41 321 44 377 47 837

1 430 1 361 1 425 1 357 1 508

37 308 39 325 42 746 45 734 49 345

1 719 1 830 2 247 2 623 2 729

-6 -6 -7 -7 -8

35 583 37 488 40 492 43 104 46 608

6 679 7 042 7 633 8 179 9 031

2 584 2 999 3 179 3 517 3 812

2 826 2 881 3 005 3 102 3 275

2 497 2 549 2 655 2 740 2 945

15 870 16 497 17 072 17 668 18 151

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

63 434 68 937 74 287 81 475 89 273

50 792 55 942 59 941 65 966 71 819

1 456 1 574 1 489 1 716 1 701

52 248 57 516 61 430 67 682 73 521

2 845 3 739 4 094 4 579 4 830

-10 -12 -14 -16 -132

49 393 53 765 57 323 63 087 68 559

9 829 10 519 11 210 11 744 13 099

4 213 4 653 5 755 6 643 7 616

3 413 3 656 3 874 4 201 4 529

3 069 3 268 3 450 3 699 3 958

18 585 18 858 19 176 19 394 19 711

... ... ... ... 9 033

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

96 313 102 428 112 265 124 037 138 721

75 965 80 044 88 387 97 808 107 848

1 705 1 704 2 170 2 928 3 645

77 670 81 749 90 557 100 737 111 493

5 020 5 452 6 337 7 979 9 020

-116 -126 -129 -116 -131

72 534 76 170 84 090 92 642 102 342

14 479 15 564 16 654 18 638 21 263

9 300 10 694 11 520 12 757 15 116

4 810 5 034 5 454 5 944 6 552

4 275 4 526 4 815 5 298 5 819

20 023 20 346 20 585 20 868 21 173

9 057 9 036 9 369 9 844 10 163

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

153 525 171 635 191 542 218 788 250 061

117 689 132 990 149 938 172 547 196 345

3 272 3 478 3 545 3 490 4 575

120 961 136 468 153 483 176 037 200 920

9 606 10 984 12 566 14 800 17 658

-21 82 -70 -80 -57

111 333 125 566 140 847 161 157 183 205

23 200 25 082 28 417 33 545 40 390

18 992 20 987 22 278 24 086 26 465

7 129 7 825 8 570 9 580 10 753

6 411 6 972 7 589 8 429 9 406

21 537 21 935 22 350 22 839 23 255

10 287 10 633 11 119 11 803 12 462

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

284 455 319 962 341 593 369 132 413 355

218 407 241 392 255 578 277 336 312 504

5 591 4 357 4 604 4 235 4 913

223 999 245 749 260 182 281 571 317 417

19 245 23 075 24 980 27 658 32 083

-90 248 253 261 235

204 664 222 921 235 455 254 174 285 569

49 064 60 883 66 508 72 635 83 619

30 727 36 159 39 630 42 324 44 168

11 951 13 175 13 763 14 556 15 994

10 443 11 537 12 136 12 871 14 147

23 801 24 286 24 820 25 360 25 844

12 777 12 969 12 899 13 219 13 852

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

448 335 478 832 515 252 557 867 601 456

340 854 366 896 399 627 435 774 463 473

4 952 5 389 6 612 6 967 6 809

345 807 372 285 406 238 442 741 470 282

35 345 38 927 42 578 47 865 51 198

182 123 40 -3 -20

310 644 333 481 363 700 394 873 419 064

89 931 94 051 98 032 105 733 119 685

47 760 51 300 53 520 57 261 62 706

16 956 17 668 18 549 19 599 20 585

14 918 15 548 16 142 17 202 17 899

26 441 27 102 27 777 28 464 29 218

14 359 14 787 15 394 16 133 16 550

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

648 263 662 728 696 670 707 906 730 529

497 550 507 383 531 743 538 682 552 103

7 230 6 210 6 799 7 800 7 583

504 780 513 593 538 541 546 482 559 686

55 042 57 255 59 325 60 172 62 187

-79 -69 -71 -3 12

449 660 456 269 479 146 486 306 497 510

129 702 129 807 128 895 128 042 135 370

68 901 76 651 88 629 93 558 97 650

21 638 21 750 22 492 22 635 23 203

18 871 19 154 19 957 20 067 20 544

29 960 30 471 30 975 31 275 31 484

16 965 16 870 16 510 16 484 16 659

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

765 806 810 448 860 545 936 009 999 228

576 839 607 170 650 342 711 197 772 928

7 281 8 183 8 753 8 260 9 163

584 120 615 354 659 095 719 456 782 091

64 041 66 134 70 388 75 771 82 306

-3 -13 -110 -120 -183

520 075 549 206 588 597 643 565 699 602

145 317 155 712 166 048 181 283 182 484

100 414 105 530 105 900 111 160 117 142

24 161 25 312 26 490 28 374 29 828

21 263 22 011 22 793 24 258 25 087

31 697 32 019 32 486 32 988 33 499

17 059 17 466 17 787 18 504 19 024

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 103 842 1 135 304 1 147 868 1 184 058 1 262 454

866 034 883 356 896 770 930 171 995 968

8 089 7 168 7 685 9 075 11 699

874 122 890 523 904 455 939 247 1 007 667

91 271 95 774 98 439 102 384 110 393

-351 -354 -311 -315 -298

782 500 794 395 805 705 836 547 896 976

199 052 204 379 195 208 192 536 200 978

122 290 136 531 146 955 154 975 164 500

32 464 32 877 32 807 33 389 35 172

26 716 27 506 28 621 29 386 31 012

34 002 34 532 34 988 35 463 35 894

19 626 19 716 19 660 19 779 20 064

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

527

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

COLORADO 1958 ................................. 1959 .................................

3 583 3 857

2 756 2 992

177 156

2 932 3 148

95 109

1 1

2 839 3 040

524 558

220 259

2 149 2 256

1 917 2 016

1 667 1 710

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4 130 4 446 4 680 4 899 5 186

3 226 3 492 3 686 3 885 4 129

171 172 153 137 135

3 397 3 665 3 839 4 022 4 264

133 150 163 191 197

1 1 1 0 *

3 266 3 516 3 676 3 832 4 066

589 629 685 728 776

275 302 319 339 343

2 335 2 411 2 465 2 530 2 632

2 058 2 126 2 176 2 235 2 374

1 769 1 844 1 899 1 936 1 970

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

5 541 5 960 6 431 7 147 7 967

4 323 4 735 5 089 5 658 6 340

210 188 184 242 249

4 534 4 924 5 272 5 900 6 589

197 263 294 333 388

0 -1 -1 -2 2

4 336 4 660 4 977 5 565 6 204

830 893 970 1 033 1 158

375 407 483 549 605

2 791 2 970 3 132 3 371 3 678

2 513 2 655 2 789 2 969 3 191

1 985 2 007 2 053 2 120 2 166

... ... ... ... 1 001

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

9 003 10 164 11 509 13 217 14 861

7 073 8 031 9 226 10 612 11 793

287 300 331 438 533

7 361 8 331 9 557 11 051 12 326

427 499 606 797 905

2 3 4 3 4

6 935 7 835 8 956 10 256 11 426

1 337 1 478 1 611 1 853 2 152

730 850 943 1 108 1 284

4 048 4 412 4 786 5 296 5 848

3 558 3 902 4 174 4 640 5 101

2 224 2 304 2 405 2 496 2 541

1 032 1 072 1 149 1 243 1 276

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

16 379 18 137 20 343 23 488 27 101

12 907 14 577 16 562 19 364 22 430

462 334 263 205 213

13 369 14 911 16 825 19 569 22 643

966 1 104 1 260 1 505 1 837

8 9 12 20 20

12 411 13 816 15 578 18 085 20 827

2 357 2 562 2 900 3 373 3 992

1 611 1 759 1 865 2 031 2 282

6 333 6 890 7 546 8 490 9 512

5 602 6 066 6 598 7 400 8 242

2 586 2 632 2 696 2 767 2 849

1 285 1 340 1 411 1 505 1 594

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

31 259 36 126 39 663 42 631 46 846

25 394 29 007 31 705 33 698 37 094

285 302 181 356 421

25 679 29 309 31 886 34 055 37 516

2 101 2 592 2 901 3 128 3 537

28 6 3 0 8

23 606 26 723 28 988 30 926 33 986

5 007 6 295 7 153 7 807 8 752

2 646 3 108 3 523 3 898 4 108

10 746 12 131 12 955 13 604 14 778

9 320 10 462 11 156 12 016 13 111

2 909 2 978 3 062 3 134 3 170

1 654 1 722 1 765 1 794 1 892

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

49 537 51 108 53 063 55 884 60 652

39 247 40 374 41 724 44 002 46 648

391 393 475 576 615

39 639 40 768 42 199 44 578 47 263

3 833 4 039 4 136 4 510 4 834

17 23 35 50 66

35 823 36 751 38 098 40 119 42 495

9 414 9 742 9 992 10 531 12 314

4 300 4 614 4 974 5 234 5 844

15 438 15 786 16 275 17 130 18 515

13 661 14 010 14 392 15 185 16 307

3 209 3 237 3 260 3 262 3 276

1 926 1 925 1 915 1 981 2 017

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

64 748 68 283 73 794 79 697 85 671

49 807 52 974 57 765 62 827 67 176

912 630 669 812 566

50 719 53 604 58 434 63 639 67 742

5 235 5 731 6 212 6 819 7 376

91 103 117 130 147

45 576 47 976 52 339 56 949 60 513

12 915 13 357 13 665 14 405 16 341

6 256 6 950 7 791 8 344 8 817

19 575 20 160 21 109 22 054 23 004

17 201 17 740 18 569 19 345 20 120

3 308 3 387 3 496 3 614 3 724

2 054 2 101 2 149 2 249 2 362

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

92 704 100 233 107 873 118 493 128 860

72 272 78 009 84 641 93 252 103 383

535 671 685 787 934

72 807 78 680 85 326 94 039 104 318

7 887 8 425 9 109 9 537 10 435

169 187 207 233 262

65 088 70 442 76 424 84 736 94 145

17 858 19 492 21 010 23 100 23 323

9 758 10 299 10 439 10 657 11 392

24 226 25 570 26 846 28 784 30 492

21 175 22 174 23 068 24 565 25 948

3 827 3 920 4 018 4 117 4 226

2 441 2 537 2 647 2 751 2 840

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

144 394 152 700 153 078 157 083 166 153

117 038 123 456 124 149 126 605 134 407

567 768 592 670 712

117 605 124 224 124 741 127 275 135 119

11 567 12 146 12 593 12 828 13 628

290 336 346 361 389

106 328 112 414 112 493 114 808 121 879

25 955 26 990 25 626 26 686 27 971

12 111 13 296 14 959 15 590 16 303

33 370 34 491 34 032 34 542 36 109

28 235 29 584 29 955 30 815 32 273

4 327 4 427 4 498 4 548 4 601

2 950 2 969 2 941 2 939 2 989

. . . = Not available. * = Less than $50,000, but the estimates for this item are included in the total.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

528

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

CONNECTICUT 1958 ................................. 1959 .................................

6 396 6 839

5 121 5 552

67 58

5 188 5 610

184 230

-2 -2

5 003 5 378

1 003 1 084

390 376

2 615 2 711

2 302 2 381

2 446 2 523

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

7 117 7 524 8 042 8 485 9 112

5 787 6 049 6 479 6 825 7 299

63 58 59 63 61

5 849 6 106 6 538 6 888 7 360

278 290 320 369 379

3 3 3 4 5

5 575 5 819 6 221 6 523 6 985

1 154 1 257 1 381 1 493 1 632

389 448 441 469 495

2 798 2 910 3 038 3 111 3 257

2 437 2 543 2 652 2 701 2 883

2 544 2 586 2 647 2 727 2 798

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

9 791 10 753 11 791 12 576 14 502

7 815 8 747 9 464 10 196 11 126

71 73 57 67 66

7 885 8 820 9 521 10 264 11 193

395 553 602 671 752

2 0 2 7 728

7 492 8 267 8 921 9 600 11 169

1 776 1 923 2 168 2 122 2 385

523 564 701 854 947

3 427 3 704 4 017 4 243 4 834

3 013 3 230 3 474 3 604 4 081

2 857 2 903 2 935 2 964 3 000

... ... ... ... 1 417

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

15 432 16 222 17 478 19 119 20 906

11 725 12 144 13 231 14 722 15 985

71 69 68 80 83

11 796 12 213 13 299 14 802 16 068

783 840 968 1 234 1 395

722 746 785 808 841

11 735 12 119 13 115 14 376 15 514

2 552 2 679 2 857 3 114 3 474

1 146 1 423 1 505 1 629 1 918

5 078 5 299 5 694 6 230 6 797

4 405 4 669 4 943 5 448 5 942

3 039 3 061 3 070 3 069 3 076

1 414 1 388 1 416 1 480 1 511

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

22 386 24 327 26 849 29 896 33 675

16 629 18 206 20 256 22 830 25 755

75 82 83 80 79

16 704 18 289 20 339 22 910 25 833

1 423 1 577 1 778 2 062 2 421

916 1 011 1 121 1 273 1 449

16 197 17 723 19 682 22 121 24 861

3 643 3 895 4 336 4 855 5 564

2 546 2 708 2 832 2 920 3 250

7 257 7 883 8 693 9 660 10 863

6 437 6 908 7 620 8 383 9 353

3 085 3 086 3 089 3 095 3 100

1 468 1 493 1 546 1 616 1 675

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

38 470 43 267 46 731 49 978 55 880

28 754 31 541 33 642 36 347 40 799

83 82 108 105 129

28 837 31 622 33 750 36 452 40 928

2 682 3 157 3 431 3 735 4 304

1 695 1 878 2 035 2 156 2 309

27 850 30 343 32 354 34 873 38 932

6 884 8 611 9 582 9 925 11 532

3 737 4 313 4 796 5 180 5 416

12 357 13 828 14 887 15 804 17 572

10 587 11 797 12 683 13 807 15 437

3 113 3 129 3 139 3 162 3 180

1 709 1 732 1 731 1 749 1 831

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

59 962 64 552 70 599 77 821 84 330

44 509 48 289 53 653 59 457 62 593

127 140 142 156 139

44 636 48 429 53 795 59 613 62 732

4 740 5 210 5 699 6 394 6 705

2 448 2 609 2 736 2 923 2 815

42 343 45 827 50 832 56 142 58 842

11 875 12 650 13 487 14 902 17 888

5 743 6 075 6 279 6 777 7 600

18 731 20 024 21 741 23 784 25 684

16 308 17 335 18 642 20 660 22 327

3 201 3 224 3 247 3 272 3 283

1 890 1 948 1 997 2 053 2 047

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

87 251 87 567 93 615 95 882 98 467

64 508 64 814 68 000 70 520 72 709

182 162 187 211 187

64 689 64 975 68 187 70 731 72 896

6 927 7 123 7 344 7 609 7 970

2 780 2 745 3 958 3 375 3 139

60 542 60 597 64 801 66 497 68 065

18 214 17 496 17 646 17 760 18 343

8 495 9 474 11 168 11 625 12 059

26 504 26 512 28 362 28 975 29 693

23 121 23 128 24 471 24 859 25 468

3 292 3 303 3 301 3 309 3 316

2 018 1 937 1 917 1 938 1 920

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

103 199 108 189 115 134 123 918 129 807

75 954 79 217 85 414 91 518 97 457

173 162 157 182 201

76 128 79 379 85 571 91 699 97 658

8 349 8 695 9 240 9 733 10 205

3 901 4 689 4 219 5 609 5 450

71 680 75 373 80 549 87 575 92 903

18 686 19 607 20 963 22 535 22 759

12 834 13 210 13 622 13 807 14 145

31 045 32 424 34 375 36 822 38 332

26 418 27 105 28 349 30 068 31 148

3 324 3 337 3 349 3 365 3 386

1 958 1 989 2 015 2 043 2 076

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

141 570 147 356 147 163 149 276 159 435

106 464 111 502 112 367 115 085 122 939

191 184 161 158 176

106 655 111 686 112 528 115 243 123 115

10 785 11 106 11 571 11 802 12 301

5 678 5 035 4 485 4 314 4 752

101 549 105 615 105 442 107 755 115 566

25 164 25 979 24 790 24 247 25 456

14 858 15 762 16 931 17 274 18 412

41 489 42 920 42 545 42 810 45 506

33 383 34 610 35 842 36 473 38 790

3 412 3 433 3 459 3 487 3 504

2 114 2 124 2 118 2 113 2 134

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

529

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

DELAWARE 1958 ................................. 1959 .................................

1 156 1 207

917 974

35 30

952 1 004

32 42

-49 -50

871 912

234 243

52 52

2 671 2 738

2 248 2 288

433 441

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 264 1 300 1 377 1 475 1 598

1 023 1 049 1 114 1 209 1 308

34 29 32 26 26

1 057 1 079 1 147 1 234 1 333

53 51 58 69 68

-51 -51 -52 -56 -58

953 976 1 037 1 109 1 207

257 259 273 296 317

54 65 67 70 74

2 816 2 821 2 936 3 053 3 215

2 356 2 375 2 440 2 560 2 702

449 461 469 483 497

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 762 1 860 1 983 2 173 2 382

1 444 1 584 1 683 1 848 1 992

35 26 32 29 55

1 478 1 609 1 715 1 878 2 047

69 99 117 119 139

-65 -69 -69 -71 -43

1 345 1 441 1 530 1 688 1 865

338 330 345 358 378

80 88 108 127 139

3 475 3 604 3 777 4 070 4 411

2 917 3 039 3 199 3 424 3 642

507 516 525 534 540

... ... ... ... 271

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 530 2 765 3 040 3 392 3 695

2 132 2 349 2 606 2 928 3 171

35 38 49 96 82

2 167 2 387 2 655 3 023 3 253

147 168 196 253 282

-48 -60 -68 -97 -108

1 971 2 159 2 391 2 674 2 863

394 411 434 471 528

165 194 215 248 303

4 597 4 891 5 298 5 858 6 336

3 822 4 107 4 436 4 899 5 322

550 565 574 579 583

275 280 293 305 302

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

3 969 4 355 4 696 5 155 5 677

3 340 3 693 3 989 4 431 4 876

91 84 56 60 54

3 432 3 776 4 045 4 492 4 929

293 325 352 402 460

-110 -121 -133 -162 -184

3 029 3 331 3 560 3 928 4 285

532 586 659 728 819

408 438 477 499 572

6 742 7 347 7 895 8 617 9 480

5 746 6 177 6 647 7 258 7 917

589 593 595 598 599

292 296 296 304 312

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

6 394 7 051 7 593 8 172 9 046

5 412 5 814 6 231 6 723 7 399

12 42 65 78 96

5 424 5 856 6 296 6 801 7 495

512 592 648 704 780

-230 -249 -270 -316 -356

4 682 5 015 5 378 5 781 6 359

1 018 1 255 1 386 1 507 1 739

694 781 829 884 948

10 748 11 831 12 673 13 498 14 792

8 970 9 799 10 645 11 500 12 692

595 596 599 605 612

312 314 317 326 341

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

9 884 10 484 11 293 12 308 13 655

8 096 8 526 9 338 10 204 11 136

104 143 114 181 192

8 200 8 669 9 452 10 386 11 327

865 926 1 007 1 144 1 255

-397 -398 -454 -498 -607

6 938 7 345 7 992 8 744 9 465

1 950 2 061 2 178 2 326 2 848

997 1 078 1 124 1 238 1 342

15 987 16 706 17 730 19 006 20 743

13 735 14 318 15 263 16 443 17 911

618 628 637 648 658

359 372 389 405 417

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

14 343 15 089 15 754 16 224 16 884

11 826 12 312 13 178 13 504 14 216

139 130 114 109 120

11 966 12 442 13 292 13 613 14 337

1 333 1 406 1 448 1 510 1 611

-678 -688 -996 -944 -1 106

9 954 10 348 10 848 11 159 11 619

2 948 3 110 3 091 3 123 3 202

1 442 1 631 1 815 1 942 2 063

21 422 22 090 22 670 22 967 23 530

18 474 19 224 19 768 19 973 20 343

670 683 695 706 718

423 417 416 423 427

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

17 811 19 063 19 895 21 565 22 416

14 687 15 455 16 449 17 776 19 089

87 120 95 140 139

14 774 15 575 16 544 17 916 19 228

1 701 1 790 1 895 1 983 2 131

-930 -952 -1 228 -1 410 -1 690

12 143 12 833 13 421 14 523 15 407

3 402 3 724 3 926 4 356 4 200

2 265 2 506 2 548 2 687 2 809

24 407 25 727 26 475 28 252 28 925

21 105 22 071 22 427 23 933 24 518

730 741 751 763 775

445 456 468 485 497

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

24 277 25 537 26 509 27 672 29 527

20 358 21 620 22 447 23 623 25 114

122 184 114 190 240

20 480 21 804 22 561 23 813 25 354

2 233 2 370 2 443 2 543 2 692

-1 733 -1 833 -1 882 -1 977 -2 083

16 514 17 601 18 237 19 293 20 579

4 705 4 600 4 659 4 531 4 842

3 058 3 337 3 613 3 849 4 106

30 869 32 097 32 886 33 822 35 559

26 278 27 259 28 734 29 892 31 445

786 796 806 818 830

508 505 503 507 519

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

530

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

DISTRICT OF COLUMBIA 1958 ................................. 1959 .................................

2 057 2 123

2 751 2 902

0 0

2 751 2 902

79 89

-1 049 -1 139

1 623 1 673

327 340

106 109

2 717 2 789

2 360 2 383

757 761

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

2 147 2 265 2 445 2 601 2 765

3 088 3 281 3 536 3 805 4 086

0 0 0 0 0

3 088 3 281 3 536 3 805 4 086

101 107 114 138 135

-1 321 -1 410 -1 496 -1 612 -1 749

1 666 1 765 1 926 2 055 2 202

369 376 393 411 423

112 123 127 135 140

2 806 2 911 3 103 3 259 3 465

2 384 2 513 2 668 2 828 3 055

765 778 788 798 798

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 995 3 126 3 349 3 524 3 423

4 443 4 792 5 418 5 840 6 168

0 0 0 0 0

4 443 4 792 5 418 5 840 6 168

140 186 213 234 252

-1 903 -2 090 -2 498 -2 767 -3 208

2 399 2 516 2 706 2 839 2 708

446 449 450 456 481

150 160 192 230 234

3 758 3 952 4 234 4 530 4 492

3 335 3 467 3 739 3 991 3 842

797 791 791 778 762

... ... ... ... 678

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 755 4 129 4 482 4 748 5 228

6 720 7 309 7 918 8 441 9 285

0 0 0 0 0

6 720 7 309 7 918 8 441 9 285

274 299 343 414 472

-3 512 -3 828 -4 161 -4 449 -4 910

2 934 3 182 3 414 3 578 3 904

519 572 622 658 729

302 375 447 512 595

4 973 5 500 6 027 6 472 7 254

4 276 4 791 5 218 5 588 6 290

755 751 744 734 721

674 669 671 664 676

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

5 709 6 080 6 577 6 949 7 366

10 269 11 186 12 269 13 370 14 631

0 0 0 0 0

10 269 11 186 12 269 13 370 14 631

521 573 609 668 770

-5 523 -6 095 -6 741 -7 527 -8 486

4 225 4 518 4 919 5 175 5 375

744 794 871 965 1 088

741 768 787 810 903

8 038 8 732 9 647 10 371 11 236

7 007 7 494 8 371 8 904 9 512

710 696 682 670 656

680 677 683 696 709

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

7 845 8 610 9 352 9 796 10 829

16 125 17 541 18 647 19 582 21 323

0 0 0 0 0

16 125 17 541 18 647 19 582 21 323

859 1 002 1 074 1 292 1 463

-9 728 -10 675 -11 326 -11 702 -12 630

5 538 5 864 6 247 6 588 7 231

1 283 1 614 1 838 1 883 2 185

1 025 1 133 1 267 1 325 1 414

12 291 13 519 14 747 15 490 17 098

10 450 11 349 12 452 13 204 14 596

638 637 634 632 633

707 696 681 676 699

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

11 516 12 135 12 829 14 042 15 063

22 794 24 283 26 112 28 785 30 522

0 0 0 0 0

22 794 24 283 26 112 28 785 30 522

1 678 1 845 2 015 2 312 2 550

-13 423 -14 271 -15 322 -16 846 -17 953

7 693 8 166 8 775 9 626 10 019

2 408 2 500 2 540 2 789 3 418

1 415 1 469 1 514 1 626 1 626

18 148 19 013 20 141 22 273 24 133

15 475 16 245 17 067 19 061 20 667

635 638 637 630 624

713 733 746 769 777

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

16 025 16 564 17 279 17 857 18 169

32 860 34 558 36 614 38 062 38 961

0 0 0 0 0

32 860 34 558 36 614 38 062 38 961

2 813 2 987 3 172 3 319 3 470

-19 150 -20 356 -21 744 -22 634 -23 190

10 897 11 215 11 698 12 110 12 301

3 393 3 371 3 395 3 354 3 432

1 734 1 978 2 186 2 394 2 437

26 473 27 567 28 916 29 996 30 835

22 858 24 027 25 315 26 358 26 876

605 601 598 595 589

788 774 768 767 747

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

18 151 18 766 19 580 20 562 21 115

39 471 39 820 41 000 42 956 46 459

0 0 0 0 0

39 471 39 820 41 000 42 956 46 459

3 530 3 567 3 676 3 907 4 268

-23 538 -23 410 -24 077 -25 176 -27 665

12 403 12 843 13 247 13 873 14 527

3 374 3 343 3 757 3 980 3 862

2 373 2 580 2 575 2 709 2 726

31 266 32 786 34 488 36 379 37 030

27 245 28 275 29 380 30 608 30 716

581 572 568 565 570

740 721 717 721 735

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

23 102 25 525 25 937 26 922 28 839

48 999 52 256 55 075 57 333 61 908

0 0 0 0 0

48 999 52 256 55 075 57 333 61 908

4 493 4 921 5 260 5 481 5 776

-28 346 -28 871 -31 030 -32 226 -34 782

16 160 18 465 18 786 19 626 21 350

4 124 4 094 3 859 3 936 4 041

2 818 2 966 3 292 3 360 3 448

40 456 44 827 45 935 48 280 52 101

33 408 37 665 39 776 42 086 45 442

571 569 565 558 554

757 760 774 777 783

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

531

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

FLORIDA 1958 ................................. 1959 .................................

8 710 9 626

6 449 7 144

368 441

6 817 7 586

216 282

-1 -1

6 600 7 302

1 531 1 668

580 655

1 881 2 002

1 708 1 811

4 630 4 808

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

10 088 10 666 11 524 12 368 13 571

7 507 7 784 8 412 9 071 10 000

379 437 451 433 490

7 886 8 222 8 863 9 504 10 490

329 343 389 449 481

-1 -1 -1 -1 -1

7 556 7 877 8 474 9 055 10 008

1 817 1 959 2 122 2 302 2 508

715 829 928 1 011 1 055

2 016 2 034 2 111 2 198 2 347

1 822 1 839 1 907 1 985 2 137

5 004 5 243 5 458 5 628 5 781

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

14 854 16 344 18 129 20 850 24 265

10 948 12 175 13 376 15 267 17 587

463 473 512 526 636

11 411 12 648 13 889 15 793 18 224

516 679 808 963 1 132

-1 -1 -2 -4 -22

10 894 11 967 13 079 14 826 17 070

2 788 3 071 3 422 4 089 5 002

1 171 1 306 1 628 1 936 2 194

2 495 2 678 2 904 3 241 3 654

2 265 2 426 2 608 2 875 3 215

5 954 6 104 6 242 6 433 6 641

... ... ... ... 2 857

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

27 412 30 744 35 396 41 436 46 570

19 648 21 806 25 330 29 862 32 988

546 640 739 837 908

20 194 22 446 26 068 30 699 33 897

1 272 1 472 1 796 2 420 2 780

-20 -14 -11 -10 -1

18 903 20 960 24 261 28 269 31 116

5 865 6 598 7 382 8 608 9 957

2 645 3 187 3 753 4 559 5 496

4 004 4 292 4 707 5 227 5 599

3 566 3 846 4 148 4 634 4 981

6 845 7 163 7 520 7 927 8 317

2 966 3 082 3 338 3 666 3 766

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

50 491 55 378 62 064 71 641 82 755

34 395 37 742 42 319 49 021 56 229

1 000 1 037 1 035 1 236 1 312

35 395 38 779 43 354 50 256 57 541

2 859 3 168 3 570 4 245 5 105

-9 10 22 25 22

32 527 35 621 39 806 46 037 52 458

10 783 11 798 13 548 15 921 19 076

7 181 7 959 8 710 9 683 11 221

5 911 6 369 6 982 7 845 8 738

5 362 5 738 6 273 7 000 7 743

8 542 8 695 8 889 9 132 9 471

3 676 3 730 3 929 4 235 4 457

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

97 741 113 537 122 669 136 037 152 157

64 498 73 001 77 823 85 908 97 483

1 671 1 405 1 784 2 474 1 835

66 169 74 406 79 608 88 382 99 318

5 915 7 194 7 902 8 777 10 141

16 111 134 160 210

60 270 67 323 71 839 79 765 89 387

24 129 30 619 33 177 36 964 42 201

13 341 15 595 17 653 19 309 20 568

9 933 11 139 11 715 12 655 13 782

8 764 9 811 10 236 11 331 12 455

9 840 10 193 10 471 10 750 11 040

4 695 4 881 4 970 5 185 5 529

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

166 837 180 125 194 991 213 834 238 049

107 129 116 036 127 575 140 308 149 588

1 841 1 977 2 145 2 705 2 484

108 970 118 013 129 719 143 013 152 072

11 349 12 556 13 658 15 504 16 800

255 312 373 450 531

97 876 105 768 116 434 127 959 135 803

46 765 50 446 53 207 58 106 70 930

22 196 23 910 25 351 27 768 31 317

14 698 15 438 16 253 17 376 18 836

13 130 13 740 14 440 15 504 16 792

11 351 11 668 11 997 12 306 12 638

5 809 6 055 6 140 6 443 6 654

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

254 984 264 449 278 700 293 167 308 508

160 352 165 073 176 786 188 108 197 779

2 079 2 458 2 461 2 534 2 163

162 431 167 531 179 247 190 641 199 942

17 966 18 866 20 071 21 391 22 925

637 683 748 803 865

145 102 149 348 159 925 170 054 177 882

75 602 76 318 71 444 75 621 80 344

34 280 38 783 47 331 47 492 50 282

19 564 19 780 20 417 21 050 21 666

17 525 17 842 18 411 18 942 19 450

13 033 13 370 13 651 13 927 14 239

6 800 6 775 6 820 7 061 7 294

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

329 885 351 355 372 094 402 454 423 834

210 690 224 299 236 991 257 448 277 556

2 183 1 931 2 117 2 512 2 928

212 873 226 229 239 108 259 960 280 484

24 318 25 622 27 216 29 239 31 118

933 1 005 1 101 1 224 1 351

189 489 201 612 212 993 231 945 250 717

86 064 92 335 99 454 109 355 109 423

54 333 57 407 59 647 61 154 63 693

22 691 23 655 24 502 25 987 26 894

20 321 20 962 21 513 22 728 23 509

14 538 14 853 15 186 15 487 15 759

7 554 7 804 8 068 8 368 8 656

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

457 539 478 637 495 429 511 951 547 312

301 755 313 257 326 744 344 597 373 278

1 750 2 053 1 893 1 750 2 103

303 505 315 310 328 637 346 347 375 381

33 266 35 508 37 117 39 030 42 165

1 514 1 572 1 549 1 543 1 610

271 753 281 373 293 070 308 860 334 825

117 914 122 897 121 968 118 176 118 400

67 872 74 367 80 391 84 915 94 086

28 509 29 268 29 700 30 116 31 460

24 810 25 612 26 575 27 325 28 569

16 049 16 354 16 681 16 999 17 397

8 933 9 112 9 205 9 395 9 696

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

532

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

GEORGIA 1958 ................................. 1959 .................................

5 974 6 378

4 845 5 261

359 310

5 204 5 571

186 224

-11 -13

5 007 5 334

589 644

379 401

1 570 1 649

1 436 1 503

3 804 3 868

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

6 670 6 954 7 475 8 123 8 808

5 485 5 641 6 150 6 655 7 316

323 343 309 395 330

5 808 5 985 6 459 7 051 7 647

261 266 297 349 376

-15 -16 -20 -24 -29

5 532 5 703 6 142 6 678 7 242

721 777 846 924 1 019

417 473 488 522 547

1 686 1 732 1 830 1 947 2 069

1 525 1 569 1 647 1 752 1 875

3 956 4 015 4 086 4 172 4 258

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

9 713 10 695 11 625 12 873 14 317

8 051 9 023 9 829 11 011 12 274

374 385 383 341 416

8 425 9 408 10 212 11 352 12 690

407 545 624 682 786

-35 -43 -52 -62 -76

7 983 8 820 9 535 10 608 11 828

1 129 1 219 1 309 1 334 1 427

601 656 781 930 1 063

2 242 2 442 2 637 2 872 3 146

2 027 2 193 2 378 2 558 2 743

4 332 4 379 4 408 4 482 4 551

... ... ... ... 2 119

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

15 556 17 197 19 340 21 988 24 235

13 140 14 398 16 305 18 369 20 004

394 453 467 783 666

13 535 14 851 16 772 19 153 20 670

836 951 1 127 1 444 1 626

-69 -65 -57 -55 -55

12 629 13 835 15 588 17 653 18 989

1 628 1 817 2 012 2 325 2 736

1 299 1 545 1 740 2 009 2 510

3 378 3 651 4 023 4 481 4 852

2 989 3 266 3 549 3 984 4 312

4 605 4 710 4 807 4 907 4 995

2 121 2 167 2 253 2 356 2 374

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

26 088 29 155 32 319 36 742 41 292

20 923 23 887 27 068 30 792 34 539

633 625 360 562 592

21 555 24 513 27 428 31 354 35 130

1 679 1 945 2 188 2 550 2 972

-45 -77 -97 -79 -97

19 832 22 492 25 143 28 724 32 062

2 931 3 117 3 496 4 015 4 670

3 326 3 547 3 680 4 002 4 560

5 157 5 688 6 201 6 951 7 659

4 673 5 107 5 535 6 163 6 711

5 059 5 126 5 212 5 286 5 391

2 313 2 400 2 503 2 622 2 705

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

46 192 52 395 56 834 62 289 71 237

38 226 42 185 45 089 49 717 56 949

34 517 679 471 950

38 260 42 702 45 767 50 188 57 899

3 309 3 929 4 283 4 794 5 610

-114 -28 -69 -112 -176

34 837 38 745 41 416 45 282 52 113

5 901 7 431 8 627 9 631 11 242

5 454 6 218 6 792 7 376 7 882

8 420 9 409 10 059 10 874 12 209

7 409 8 246 8 872 9 574 10 814

5 486 5 568 5 650 5 728 5 835

2 747 2 785 2 802 2 886 3 081

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

78 332 85 000 91 395 99 402 107 069

63 162 69 039 74 555 80 830 85 130

781 822 891 1 151 1 349

63 943 69 860 75 446 81 981 86 479

6 359 7 115 7 642 8 534 9 075

-193 -238 -238 -232 -192

57 390 62 507 67 566 73 215 77 211

12 490 13 491 14 383 15 990 18 537

8 451 9 001 9 446 10 198 11 321

13 137 13 970 14 721 15 738 16 701

11 561 12 305 12 894 13 860 14 648

5 963 6 085 6 208 6 316 6 411

3 224 3 354 3 455 3 568 3 633

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

114 643 120 222 130 041 137 607 148 234

90 735 93 943 102 108 108 791 116 226

1 257 1 552 1 638 1 480 1 947

91 991 95 495 103 746 110 271 118 173

9 719 10 196 10 930 11 683 12 644

-113 -129 -179 -166 -214

82 159 85 170 92 637 98 422 105 315

19 906 20 604 21 206 21 819 24 283

12 577 14 449 16 198 17 366 18 637

17 603 18 070 19 075 19 719 20 711

15 464 15 985 16 909 17 402 18 252

6 513 6 653 6 817 6 978 7 157

3 689 3 645 3 722 3 891 4 046

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

158 858 172 113 182 868 198 782 212 081

125 131 134 974 144 033 157 534 171 018

1 784 1 881 1 861 1 823 1 994

126 914 136 855 145 894 159 357 173 012

13 582 14 509 15 538 16 845 18 195

-297 -350 -434 -552 -582

113 036 121 996 129 922 141 960 154 235

25 942 28 738 31 166 34 433 34 086

19 880 21 378 21 779 22 389 23 761

21 677 22 945 23 795 25 279 26 359

19 043 20 029 20 630 21 792 22 695

7 328 7 501 7 685 7 864 8 046

4 215 4 362 4 477 4 640 4 778

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

230 356 240 616 244 948 250 662 265 538

185 385 192 105 195 577 201 508 214 260

1 650 1 985 1 462 1 880 2 076

187 035 194 091 197 039 203 388 216 335

19 367 20 178 20 579 21 073 22 782

-728 -766 -811 -812 -840

166 940 173 148 175 649 181 504 192 713

37 570 38 767 36 731 36 235 37 362

25 845 28 702 32 568 32 924 35 462

27 989 28 675 28 683 28 890 30 074

24 054 24 767 25 349 25 781 26 889

8 230 8 391 8 540 8 676 8 829

4 892 4 908 4 893 4 921 5 017

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

533

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

HAWAII 1958 ................................. 1959 .................................

1 168 1 306

963 1 077

64 73

1 027 1 151

40 45

0 0

986 1 106

140 155

42 46

1 931 2 100

... ...

605 622

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 496 1 619 1 736 1 850 2 013

1 216 1 316 1 403 1 505 1 647

81 75 78 87 88

1 297 1 391 1 481 1 592 1 735

52 57 61 76 82

0 0 0 0 0

1 245 1 334 1 421 1 516 1 653

203 227 248 264 289

48 59 67 70 70

2 330 2 457 2 538 2 712 2 876

2 005 2 112 2 222 2 377 2 556

642 659 684 682 700

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 205 2 410 2 620 2 949 3 375

1 795 1 983 2 145 2 442 2 826

91 95 98 117 119

1 885 2 077 2 243 2 559 2 946

85 113 130 152 183

0 0 0 0 0

1 800 1 964 2 112 2 407 2 763

323 351 387 402 452

81 95 121 140 160

3 132 3 394 3 623 4 018 4 543

2 796 2 982 3 176 3 495 3 893

704 710 723 734 743

... ... ... ... 416

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 886 4 225 4 653 5 172 5 945

3 238 3 476 3 840 4 297 4 740

133 131 132 139 343

3 371 3 607 3 971 4 436 5 084

212 236 274 349 401

0 0 0 0 0

3 160 3 371 3 697 4 087 4 683

520 585 633 715 818

206 270 322 370 444

5 094 5 338 5 687 6 143 6 928

4 389 4 677 4 918 5 328 6 040

763 792 818 842 858

434 437 453 473 485

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

6 483 7 041 7 650 8 465 9 602

5 252 5 736 6 244 6 935 7 838

203 173 185 168 194

5 454 5 909 6 428 7 103 8 032

443 485 523 597 701

0 0 0 0 0

5 011 5 425 5 905 6 506 7 331

895 943 1 038 1 200 1 432

577 674 707 759 839

7 409 7 891 8 353 9 114 10 107

6 613 6 991 7 368 7 976 8 818

875 892 916 929 950

499 505 509 527 556

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

11 073 12 015 12 715 14 087 15 352

8 781 9 482 10 103 10 863 11 896

377 200 235 339 240

9 158 9 682 10 338 11 202 12 136

781 901 952 1 040 1 140

0 0 0 0 0

8 377 8 781 9 386 10 162 10 996

1 733 2 102 2 102 2 576 2 933

962 1 132 1 227 1 349 1 423

11 443 12 283 12 794 13 910 14 935

10 007 10 748 11 408 12 412 13 374

968 978 994 1 013 1 028

575 569 568 579 585

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

16 311 17 225 18 386 20 161 22 462

12 744 13 543 14 669 16 240 17 930

222 257 241 264 246

12 966 13 799 14 910 16 504 18 176

1 242 1 348 1 474 1 697 1 892

0 0 0 0 0

11 724 12 452 13 436 14 807 16 283

3 078 3 202 3 324 3 616 4 251

1 509 1 572 1 627 1 739 1 927

15 688 16 377 17 217 18 671 20 521

13 990 14 568 15 106 16 358 17 789

1 040 1 052 1 068 1 080 1 095

602 616 647 674 702

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

24 704 26 026 27 910 28 799 29 424

19 964 21 069 22 533 23 125 23 199

261 230 217 213 210

20 225 21 299 22 750 23 339 23 409

2 113 2 278 2 429 2 471 2 503

0 0 0 0 0

18 112 19 021 20 321 20 868 20 906

4 505 4 702 4 526 5 002 5 347

2 087 2 304 3 063 2 929 3 172

22 186 22 895 24 089 24 555 24 777

19 269 19 769 21 223 21 655 21 869

1 113 1 137 1 159 1 173 1 188

730 751 753 749 744

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

29 926 30 122 31 002 31 757 32 646

23 202 23 261 23 747 24 192 24 881

200 197 208 221 252

23 402 23 459 23 956 24 413 25 133

2 484 2 460 2 462 2 492 2 561

0 0 0 0 0

20 918 20 998 21 493 21 921 22 572

5 444 5 461 5 834 6 100 6 191

3 564 3 663 3 675 3 736 3 882

25 004 25 024 25 587 26 132 26 973

22 190 22 086 22 565 22 967 23 651

1 197 1 204 1 212 1 215 1 210

740 739 740 742 742

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

34 451 35 126 36 371 38 125 41 176

26 266 26 745 28 382 30 286 32 794

212 215 220 222 217

26 478 26 960 28 602 30 508 33 012

2 668 2 786 2 987 3 220 3 388

0 0 0 0 0

23 810 24 174 25 615 27 288 29 624

6 567 6 596 6 045 5 946 6 279

4 074 4 357 4 712 4 892 5 272

28 422 28 745 29 462 30 531 32 606

24 842 25 124 26 172 27 326 29 174

1 212 1 222 1 235 1 249 1 263

763 767 770 786 808

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

534

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

IDAHO 1958 ................................. 1959 .................................

1 165 1 236

824 884

164 164

988 1 048

37 43

-3 -3

948 1 002

139 149

78 85

1 804 1 881

1 627 1 693

646 657

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 263 1 336 1 430 1 459 1 507

913 971 1 046 1 062 1 141

156 156 165 171 132

1 069 1 127 1 210 1 233 1 273

50 56 62 69 70

-3 -3 -3 -2 -2

1 016 1 068 1 145 1 162 1 201

156 166 179 188 194

90 102 106 109 112

1 882 1 954 2 067 2 137 2 215

1 683 1 760 1 866 1 920 2 017

671 684 692 683 680

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 728 1 753 1 865 1 989 2 290

1 247 1 322 1 387 1 515 1 675

229 177 204 184 250

1 477 1 499 1 591 1 698 1 925

76 93 107 121 127

-2 -1 -1 -1 12

1 399 1 405 1 484 1 576 1 810

209 219 226 239 286

120 129 155 174 194

2 519 2 544 2 711 2 862 3 239

2 296 2 308 2 450 2 573 2 887

686 689 688 695 707

... ... ... ... 315

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 525 2 755 3 144 3 658 4 316

1 828 2 001 2 279 2 588 2 963

264 247 317 450 625

2 092 2 248 2 596 3 038 3 588

137 154 183 240 282

14 15 16 18 22

1 969 2 108 2 429 2 816 3 328

328 378 409 491 567

229 269 306 351 421

3 520 3 730 4 119 4 677 5 341

3 165 3 354 3 727 4 200 4 758

717 739 763 782 808

324 332 347 365 381

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4 626 5 218 5 715 6 595 7 264

3 367 3 917 4 417 5 124 5 665

383 339 236 304 227

3 750 4 256 4 653 5 427 5 892

316 370 418 487 567

28 35 35 42 48

3 462 3 922 4 271 4 982 5 372

640 705 818 944 1 110

524 591 627 669 781

5 560 6 088 6 469 7 240 7 789

4 999 5 466 5 793 6 465 6 942

832 857 883 911 933

393 419 435 460 470

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

8 198 9 032 9 368 10 143 10 973

6 040 6 497 6 479 7 008 7 715

402 423 391 581 496

6 442 6 920 6 869 7 589 8 211

605 702 718 782 874

61 53 62 64 77

5 899 6 271 6 214 6 871 7 414

1 365 1 690 1 925 1 972 2 212

934 1 071 1 229 1 300 1 346

8 648 9 387 9 621 10 330 11 074

7 719 8 297 8 590 9 293 10 002

948 962 974 982 991

466 463 453 464 474

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

11 572 11 833 12 366 13 300 14 647

8 162 8 305 8 689 9 437 10 188

454 475 592 670 876

8 617 8 780 9 282 10 106 11 065

933 961 995 1 127 1 235

84 100 109 124 139

7 767 7 919 8 396 9 104 9 969

2 362 2 392 2 404 2 515 2 855

1 442 1 521 1 566 1 682 1 824

11 641 11 949 12 554 13 493 14 729

10 490 10 827 11 348 12 172 13 143

994 990 985 986 994

476 476 490 512 529

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

15 918 16 692 18 318 20 073 21 422

11 099 11 780 13 082 14 337 15 629

990 816 858 1 080 761

12 089 12 596 13 940 15 416 16 390

1 358 1 482 1 613 1 767 1 951

152 174 191 210 238

10 884 11 289 12 518 13 860 14 676

3 067 3 210 3 340 3 568 3 957

1 968 2 194 2 460 2 644 2 789

15 724 16 030 17 093 18 103 18 707

13 988 14 280 15 135 16 066 16 593

1 012 1 041 1 072 1 109 1 145

552 570 590 616 651

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

22 871 24 360 25 367 27 287 29 068

16 455 17 184 17 966 19 127 20 676

836 947 779 959 1 046

17 291 18 131 18 745 20 086 21 722

2 074 2 134 2 223 2 337 2 480

281 326 369 437 504

15 498 16 323 16 891 18 185 19 746

4 350 4 718 5 068 5 544 5 546

3 023 3 319 3 408 3 557 3 776

19 426 20 248 20 648 21 789 22 786

17 206 17 898 18 173 19 192 19 988

1 177 1 203 1 229 1 252 1 276

672 694 713 740 759

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

31 290 33 054 33 823 34 660 37 394

22 587 23 441 24 129 25 031 27 021

867 1 043 943 776 1 134

23 453 24 484 25 072 25 806 28 154

2 676 2 723 2 812 2 914 3 094

524 530 542 559 589

21 302 22 291 22 801 23 451 25 649

5 909 6 195 6 051 5 951 6 101

4 079 4 568 4 971 5 257 5 644

24 075 25 018 25 181 25 354 26 839

20 959 21 908 22 697 23 010 24 414

1 300 1 321 1 343 1 367 1 393

788 796 802 812 834

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

535

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ILLINOIS 1958 ................................. 1959 .................................

24 601 26 130

20 156 21 778

856 657

21 012 22 435

704 852

-111 -127

20 198 21 456

3 052 3 267

1 350 1 407

2 488 2 617

2 208 2 321

9 886 9 986

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

26 950 27 971 29 527 30 678 32 775

22 507 22 922 24 220 25 126 26 982

636 800 785 805 651

23 143 23 723 25 004 25 931 27 633

1 073 1 088 1 195 1 329 1 337

-133 -138 -154 -159 -175

21 937 22 496 23 655 24 443 26 122

3 540 3 775 4 108 4 419 4 806

1 472 1 699 1 763 1 815 1 847

2 672 2 761 2 872 2 949 3 098

2 352 2 439 2 528 2 602 2 772

10 086 10 130 10 280 10 402 10 580

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

35 524 38 473 40 917 43 848 47 931

28 969 31 888 33 884 36 625 39 958

888 960 922 680 897

29 857 32 848 34 806 37 306 40 854

1 356 1 820 1 986 2 192 2 717

-194 -222 -239 -265 93

28 307 30 806 32 581 34 849 38 230

5 237 5 523 5 781 6 006 6 465

1 981 2 145 2 555 2 993 3 236

3 322 3 551 3 738 3 988 4 342

2 965 3 142 3 295 3 476 3 715

10 693 10 836 10 947 10 995 11 039

... ... ... ... 5 179

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

50 835 54 555 59 248 66 374 72 753

42 176 44 885 48 794 54 070 59 101

706 870 980 1 822 1 649

42 882 45 755 49 774 55 892 60 750

2 811 3 075 3 518 4 491 5 079

18 -23 -42 -59 -71

40 089 42 657 46 214 51 342 55 600

6 909 7 307 7 865 8 884 10 143

3 837 4 592 5 169 6 149 7 010

4 570 4 868 5 263 5 895 6 453

3 930 4 253 4 538 5 119 5 580

11 125 11 206 11 258 11 260 11 274

5 144 5 105 5 156 5 351 5 442

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

79 270 86 597 95 420 105 497 115 966

62 185 69 306 76 897 85 870 93 950

2 439 1 693 1 695 1 482 1 809

64 625 70 999 78 592 87 352 95 759

5 196 5 882 6 516 7 467 8 483

-96 -76 -10 78 163

59 332 65 040 72 066 79 963 87 439

10 952 11 641 12 982 14 494 16 503

8 986 9 916 10 372 11 039 12 024

7 011 7 623 8 366 9 226 10 152

6 150 6 623 7 250 7 972 8 709

11 306 11 360 11 406 11 434 11 423

5 342 5 458 5 587 5 748 5 811

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

125 838 139 569 147 604 153 546 169 736

99 447 106 465 109 368 114 125 126 062

350 1 497 899 -498 1 202

99 797 107 962 110 267 113 627 127 264

8 955 10 275 10 717 11 259 12 809

262 198 126 90 -15

91 104 97 885 99 676 102 458 114 440

20 148 24 927 29 528 31 385 35 223

14 585 16 758 18 401 19 703 20 073

11 005 12 196 12 921 13 459 14 873

9 464 10 471 11 284 11 829 13 150

11 435 11 443 11 423 11 409 11 412

5 688 5 684 5 583 5 542 5 746

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

178 529 187 025 197 603 212 011 225 574

133 155 141 045 151 176 164 930 173 261

1 697 1 404 1 415 838 2 143

134 852 142 449 152 591 165 768 175 404

13 762 14 767 15 637 17 418 18 470

-83 -142 -230 -361 -376

121 007 127 540 136 723 147 989 156 558

36 571 37 776 38 717 41 099 44 657

20 951 21 710 22 163 22 923 24 358

15 661 16 424 17 347 18 613 19 770

13 801 14 487 15 145 16 346 17 247

11 400 11 387 11 391 11 390 11 410

5 814 5 927 6 072 6 232 6 342

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

238 499 245 434 263 702 271 174 285 537

183 093 188 369 201 612 209 580 219 921

1 722 928 1 882 1 641 2 095

184 815 189 298 203 494 211 222 222 015

19 637 20 599 21 736 22 937 24 452

-281 -294 -337 -497 -515

164 897 168 405 181 421 187 788 197 048

47 026 48 337 49 557 49 132 53 003

26 576 28 693 32 724 34 254 35 486

20 824 21 215 22 550 22 962 23 969

18 168 18 634 19 905 20 164 20 964

11 453 11 569 11 694 11 810 11 913

6 440 6 416 6 397 6 487 6 658

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

301 688 320 081 337 897 360 095 373 385

232 445 243 715 258 356 276 720 293 094

556 2 345 2 167 1 487 935

233 001 246 061 260 523 278 207 294 029

25 762 26 827 28 338 30 089 31 536

-778 -831 -874 -853 -1 049

206 461 218 403 231 312 247 265 261 445

57 378 61 828 65 874 71 525 69 859

37 849 39 850 40 712 41 305 42 081

25 123 26 449 27 729 29 343 30 212

21 920 22 924 23 849 25 103 25 763

12 008 12 102 12 186 12 272 12 359

6 822 6 925 7 029 7 185 7 282

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

400 373 407 254 413 991 427 212 441 485

311 686 317 043 324 021 337 879 348 040

1 338 1 129 640 1 394 2 915

313 024 318 172 324 661 339 273 350 954

33 038 33 984 34 477 35 214 37 243

-1 343 -1 505 -1 443 -1 418 -1 355

278 642 282 683 288 741 302 641 312 356

76 913 76 281 73 143 70 261 72 690

44 818 48 290 52 107 54 310 56 439

32 185 32 532 32 895 33 774 34 725

27 412 27 866 28 847 30 039 30 931

12 440 12 518 12 585 12 649 12 714

7 416 7 371 7 284 7 257 7 300

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

536

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

INDIANA 1958 ................................. 1959 .................................

9 197 9 790

7 480 8 186

420 294

7 900 8 479

295 356

35 41

7 640 8 164

986 1 055

570 571

2 007 2 122

1 816 1 908

4 583 4 613

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

10 286 10 590 11 343 11 909 12 684

8 534 8 584 9 289 9 775 10 603

359 455 444 460 293

8 893 9 039 9 733 10 236 10 896

415 411 461 526 545

40 43 48 48 46

8 518 8 671 9 320 9 757 10 397

1 164 1 227 1 326 1 428 1 538

604 692 697 724 749

2 201 2 239 2 395 2 482 2 612

1 964 2 010 2 137 2 201 2 341

4 674 4 730 4 736 4 799 4 856

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

14 029 15 137 15 860 17 245 18 956

11 559 12 807 13 426 14 664 16 014

544 470 423 373 541

12 103 13 277 13 849 15 037 16 555

581 818 916 992 1 097

49 55 59 69 25

11 571 12 515 12 992 14 113 15 483

1 653 1 756 1 856 1 951 2 194

806 866 1 011 1 180 1 279

2 850 3 028 3 139 3 386 3 686

2 551 2 684 2 775 2 968 3 186

4 922 4 999 5 053 5 093 5 143

... ... ... ... 2 327

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

19 678 21 408 23 453 27 049 28 975

16 472 17 530 19 484 21 954 23 614

371 588 496 1 218 721

16 843 18 118 19 980 23 172 24 335

1 116 1 229 1 442 1 865 2 091

58 118 151 195 256

15 785 17 008 18 689 21 502 22 500

2 393 2 609 2 794 3 211 3 718

1 500 1 790 1 970 2 335 2 757

3 782 4 078 4 428 5 076 5 416

3 309 3 607 3 876 4 487 4 713

5 204 5 250 5 296 5 329 5 350

2 291 2 290 2 367 2 483 2 493

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

31 211 34 912 38 717 43 272 47 781

24 291 27 780 31 429 35 403 38 926

1 085 1 065 712 716 655

25 376 28 846 32 141 36 119 39 581

2 122 2 440 2 757 3 196 3 636

301 351 413 467 544

23 555 26 756 29 798 33 390 36 489

4 144 4 491 5 070 5 646 6 425

3 512 3 665 3 849 4 236 4 867

5 833 6 500 7 163 7 945 8 727

5 170 5 704 6 263 6 916 7 565

5 351 5 372 5 405 5 446 5 475

2 405 2 489 2 578 2 671 2 713

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

51 469 56 488 58 448 61 123 68 027

40 144 43 131 43 147 45 482 50 091

361 291 297 -265 738

40 505 43 422 43 445 45 218 50 829

3 725 4 306 4 399 4 660 5 257

667 716 781 830 993

37 447 39 832 39 827 41 388 46 565

7 937 9 856 11 044 11 576 12 904

6 085 6 800 7 577 8 159 8 558

9 374 10 307 10 689 11 214 12 463

8 188 8 961 9 376 9 902 11 055

5 491 5 480 5 468 5 450 5 458

2 632 2 611 2 530 2 550 2 653

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

71 838 75 378 79 846 84 969 92 341

53 092 55 967 60 020 64 859 68 990

668 564 753 274 946

53 760 56 532 60 773 65 132 69 937

5 685 6 093 6 466 7 244 7 759

1 080 1 177 1 249 1 375 1 442

49 155 51 615 55 556 59 263 63 619

13 675 14 251 14 592 15 428 17 555

9 008 9 512 9 698 10 277 11 167

13 159 13 820 14 589 15 472 16 717

11 631 12 243 12 872 13 654 14 678

5 459 5 454 5 473 5 492 5 524

2 709 2 769 2 865 2 953 3 030

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

97 213 100 361 108 029 113 428 120 278

72 440 75 515 80 908 85 485 90 848

838 212 771 849 766

73 278 75 728 81 679 86 334 91 614

8 221 8 700 9 257 9 860 10 664

1 513 1 536 1 752 1 940 2 091

66 570 68 563 74 173 78 415 83 042

18 516 18 421 18 631 18 951 20 481

12 127 13 377 15 224 16 062 16 756

17 491 17 869 19 037 19 764 20 761

15 368 15 752 16 844 17 431 18 225

5 558 5 616 5 675 5 739 5 794

3 090 3 091 3 139 3 216 3 306

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

125 269 132 103 138 794 149 336 154 842

94 943 98 763 103 913 112 167 118 361

330 1 144 1 185 763 300

95 273 99 907 105 098 112 931 118 660

11 170 11 546 12 122 12 830 13 446

2 342 2 486 2 648 2 679 3 032

86 445 90 847 95 625 102 779 108 246

21 817 23 246 24 734 27 448 26 616

17 006 18 010 18 435 19 109 19 980

21 408 22 368 23 306 24 894 25 615

18 757 19 528 20 247 21 572 22 206

5 851 5 906 5 955 5 999 6 045

3 400 3 439 3 496 3 567 3 626

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

165 285 167 881 172 392 178 815 187 565

124 719 125 841 130 511 136 787 142 929

553 469 128 632 1 308

125 272 126 310 130 639 137 419 144 238

13 888 14 113 14 519 15 024 15 815

3 374 3 472 3 385 3 415 3 514

114 757 115 669 119 505 125 810 131 936

28 997 28 530 27 685 26 892 27 864

21 531 23 682 25 202 26 113 27 765

27 132 27 397 27 993 28 843 30 070

23 647 23 920 24 900 25 937 27 070

6 092 6 128 6 158 6 200 6 238

3 673 3 611 3 585 3 594 3 641

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

537

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

IOWA 1958 ................................. 1959 .................................

5 394 5 540

3 437 3 775

1 005 741

4 442 4 516

135 166

27 29

4 335 4 379

729 799

331 362

1 992 2 030

1 803 1 841

2 708 2 729

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

5 674 6 007 6 271 6 667 6 984

3 889 4 000 4 184 4 407 4 727

720 838 870 983 905

4 609 4 838 5 054 5 390 5 633

186 189 203 233 247

33 36 39 41 44

4 457 4 685 4 890 5 198 5 430

833 898 938 1 005 1 075

385 424 444 464 479

2 059 2 180 2 281 2 427 2 543

1 850 1 969 2 060 2 194 2 318

2 756 2 756 2 750 2 747 2 746

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

7 744 8 428 8 589 9 226 10 256

5 060 5 626 6 020 6 491 7 109

1 232 1 328 1 066 1 009 1 222

6 292 6 955 7 086 7 500 8 331

261 352 418 457 544

48 52 56 60 82

6 080 6 655 6 725 7 103 7 869

1 143 1 207 1 189 1 340 1 532

522 566 675 782 856

2 824 3 051 3 075 3 292 3 656

2 569 2 746 2 760 2 931 3 225

2 742 2 762 2 793 2 803 2 805

... ... ... ... 1 289

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

10 931 11 450 12 835 15 472 16 035

7 541 8 046 8 774 9 873 11 078

1 197 997 1 464 2 712 1 694

8 738 9 043 10 237 12 586 12 772

568 627 720 931 1 094

89 88 94 88 84

8 259 8 504 9 611 11 742 11 762

1 680 1 819 2 008 2 326 2 647

992 1 127 1 216 1 404 1 626

3 865 4 015 4 487 5 402 5 591

3 436 3 609 3 968 4 817 4 853

2 829 2 852 2 861 2 864 2 868

1 295 1 297 1 316 1 374 1 407

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

17 919 19 111 21 145 24 433 26 220

12 052 13 718 15 318 16 950 18 993

1 945 1 204 1 204 2 412 1 540

13 997 14 922 16 522 19 362 20 533

1 169 1 324 1 461 1 675 1 960

100 92 65 61 71

12 928 13 689 15 126 17 748 18 644

2 974 3 207 3 677 4 104 4 683

2 017 2 215 2 341 2 581 2 892

6 219 6 582 7 255 8 370 8 989

5 488 5 758 6 352 7 352 7 816

2 881 2 904 2 914 2 919 2 917

1 407 1 455 1 488 1 514 1 557

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

27 930 31 569 32 477 33 153 36 836

20 155 21 304 21 296 22 192 23 961

683 1 611 797 -7 1 434

20 838 22 915 22 093 22 185 25 395

2 067 2 325 2 354 2 430 2 688

92 118 192 206 239

18 863 20 708 19 931 19 961 22 945

5 661 6 986 8 126 8 456 9 038

3 405 3 876 4 419 4 737 4 853

9 585 10 856 11 245 11 550 12 886

8 320 9 429 9 870 10 226 11 579

2 914 2 908 2 888 2 871 2 859

1 541 1 513 1 476 1 479 1 506

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

38 171 39 389 41 242 42 415 45 981

24 690 25 379 27 165 29 167 30 999

1 729 2 106 2 442 1 627 2 366

26 419 27 485 29 606 30 794 33 365

2 815 2 947 3 158 3 529 3 774

278 270 266 307 315

23 882 24 808 26 714 27 572 29 906

9 139 9 237 9 068 9 142 9 985

5 151 5 344 5 460 5 700 6 091

13 490 14 108 14 905 15 321 16 596

12 122 12 706 13 297 13 634 14 707

2 830 2 792 2 767 2 768 2 771

1 503 1 501 1 523 1 567 1 611

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

48 358 49 808 53 082 53 098 57 873

32 713 34 164 36 360 38 164 40 512

2 250 1 730 2 558 846 2 762

34 963 35 894 38 918 39 010 43 273

4 010 4 221 4 467 4 718 5 082

323 373 399 380 386

31 276 32 047 34 850 34 672 38 577

10 473 10 663 10 565 10 408 10 982

6 609 7 098 7 667 8 018 8 314

17 389 17 804 18 834 18 716 20 301

15 369 15 785 16 768 16 590 18 042

2 781 2 798 2 818 2 837 2 851

1 646 1 665 1 680 1 702 1 735

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

60 012 64 862 68 297 71 704 73 285

42 462 44 253 46 672 50 255 53 167

1 817 3 653 3 610 2 391 1 402

44 279 47 907 50 283 52 646 54 569

5 345 5 541 5 838 6 175 6 422

446 498 578 663 737

39 380 42 863 45 023 47 134 48 885

11 848 12 750 13 731 14 800 14 310

8 785 9 248 9 543 9 770 10 090

20 929 22 521 23 623 24 701 25 118

18 559 19 962 20 794 21 725 22 076

2 867 2 880 2 891 2 903 2 918

1 796 1 826 1 852 1 894 1 914

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

77 763 79 456 82 487 84 029 91 500

55 681 57 013 58 769 61 293 65 346

1 656 1 290 1 524 1 229 4 027

57 336 58 302 60 293 62 522 69 373

6 609 6 820 7 009 7 307 7 692

832 783 836 867 869

51 560 52 265 54 121 56 082 62 550

15 416 15 556 15 478 15 096 15 533

10 787 11 635 12 888 12 851 13 416

26 554 27 103 28 107 28 562 30 970

23 390 23 926 25 300 25 901 28 164

2 928 2 932 2 935 2 942 2 954

1 934 1 916 1 906 1 904 1 935

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

538

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

KANSAS 1958 ................................. 1959 .................................

4 469 4 514

3 025 3 180

524 365

3 548 3 545

121 142

147 163

3 575 3 567

636 667

258 280

2 086 2 090

1 889 1 892

2 142 2 160

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4 693 4 895 5 101 5 226 5 494

3 241 3 394 3 579 3 683 3 928

435 442 414 394 360

3 676 3 836 3 993 4 077 4 288

161 177 183 206 213

173 176 192 212 234

3 688 3 835 4 002 4 083 4 309

703 725 754 777 806

302 335 345 366 379

2 150 2 210 2 286 2 357 2 487

1 930 1 986 2 046 2 100 2 260

2 183 2 215 2 231 2 217 2 209

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

5 855 6 277 6 573 7 143 7 937

4 100 4 496 4 791 5 257 5 721

454 469 400 395 457

4 554 4 966 5 191 5 651 6 178

222 293 339 376 423

257 292 322 353 441

4 589 4 965 5 174 5 628 6 196

853 869 868 899 1 052

413 444 532 616 689

2 654 2 853 2 992 3 223 3 550

2 410 2 554 2 672 2 850 3 111

2 206 2 200 2 197 2 216 2 236

... ... ... ... 1 029

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

8 583 9 320 10 411 11 936 12 943

6 035 6 510 7 208 8 099 9 079

599 700 956 1 378 1 049

6 633 7 210 8 163 9 477 10 127

444 494 575 737 856

439 430 453 468 483

6 629 7 146 8 041 9 208 9 754

1 151 1 258 1 386 1 577 1 865

803 916 984 1 151 1 323

3 818 4 149 4 616 5 271 5 707

3 372 3 718 4 096 4 669 4 997

2 248 2 246 2 256 2 264 2 268

1 017 1 022 1 048 1 090 1 122

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

14 136 15 432 16 876 18 712 21 422

10 059 11 388 12 551 14 255 16 102

797 575 489 273 695

10 856 11 963 13 040 14 528 16 796

938 1 070 1 176 1 375 1 617

497 514 559 604 652

10 415 11 407 12 423 13 757 15 832

2 108 2 245 2 527 2 854 3 272

1 613 1 780 1 926 2 102 2 318

6 204 6 713 7 281 8 021 9 126

5 501 5 947 6 407 7 033 7 924

2 279 2 299 2 318 2 333 2 347

1 133 1 169 1 208 1 252 1 298

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

23 578 26 764 28 988 30 221 33 274

17 658 19 350 20 045 21 125 23 302

97 333 570 373 740

17 755 19 683 20 615 21 498 24 042

1 760 2 059 2 184 2 289 2 569

729 755 778 754 799

16 724 18 378 19 209 19 963 22 272

4 098 5 210 6 215 6 457 7 085

2 756 3 176 3 564 3 800 3 918

9 953 11 223 12 072 12 511 13 726

8 629 9 638 10 413 11 018 12 216

2 369 2 385 2 401 2 416 2 424

1 312 1 326 1 310 1 327 1 370

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

35 078 36 501 38 146 40 070 42 157

24 466 25 581 26 820 28 412 30 030

802 930 1 168 1 136 818

25 268 26 510 27 988 29 549 30 847

2 735 2 901 3 017 3 319 3 504

844 826 901 911 960

23 376 24 436 25 872 27 140 28 303

7 570 7 731 7 818 8 254 8 725

4 131 4 334 4 456 4 675 5 128

14 451 15 005 15 599 16 275 17 048

12 810 13 399 13 818 14 422 14 988

2 427 2 433 2 445 2 462 2 473

1 375 1 375 1 428 1 440 1 463

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

44 876 46 541 49 867 51 729 54 164

31 495 32 815 35 362 36 977 38 811

1 372 1 017 1 395 1 338 1 397

32 867 33 832 36 757 38 315 40 208

3 708 3 928 4 178 4 384 4 671

975 953 967 1 062 932

30 134 30 857 33 546 34 992 36 469

9 174 9 652 9 637 9 670 10 383

5 568 6 032 6 685 7 067 7 312

18 085 18 626 19 692 20 234 20 990

15 971 16 517 17 554 17 973 18 609

2 481 2 499 2 532 2 557 2 581

1 483 1 498 1 511 1 534 1 561

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

56 073 59 729 63 356 67 800 70 158

40 611 42 595 45 464 49 032 51 703

786 1 484 1 405 1 290 1 364

41 396 44 079 46 869 50 322 53 066

4 843 5 057 5 387 5 757 6 013

1 099 1 159 1 066 1 096 996

37 653 40 180 42 548 45 661 48 050

10 758 11 579 12 456 13 654 13 305

7 662 7 970 8 352 8 485 8 804

21 558 22 845 24 041 25 483 26 195

18 995 20 036 20 923 22 171 22 775

2 601 2 615 2 635 2 661 2 678

1 609 1 642 1 686 1 734 1 752

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

74 570 77 564 78 556 80 792 84 810

55 091 57 480 58 960 60 571 64 232

705 778 248 1 191 922

55 796 58 258 59 207 61 762 65 154

6 259 6 496 6 659 6 809 7 185

1 103 993 975 855 842

50 640 52 755 53 524 55 808 58 811

14 437 14 350 13 818 13 556 14 087

9 492 10 459 11 214 11 428 11 912

27 694 28 714 28 956 29 651 31 003

24 047 25 057 25 802 26 705 27 949

2 693 2 701 2 713 2 725 2 736

1 771 1 782 1 773 1 766 1 791

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

539

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

KENTUCKY 1958 ................................. 1959 .................................

4 532 4 769

3 344 3 575

361 336

3 705 3 911

142 169

83 97

3 646 3 839

507 537

379 393

1 531 1 590

1 385 1 438

2 961 2 999

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4 921 5 238 5 563 5 848 6 112

3 675 3 770 4 108 4 374 4 670

319 392 391 400 293

3 994 4 162 4 500 4 774 4 963

184 184 209 240 245

97 89 92 92 99

3 907 4 066 4 383 4 625 4 817

585 618 676 719 765

429 555 504 504 530

1 618 1 715 1 807 1 889 1 953

1 461 1 558 1 628 1 706 1 775

3 041 3 054 3 079 3 096 3 129

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

6 631 7 243 7 840 8 577 9 444

5 044 5 621 6 117 6 777 7 416

361 377 378 369 423

5 405 5 997 6 495 7 146 7 839

258 339 399 445 511

107 116 95 104 174

5 255 5 775 6 191 6 805 7 502

798 842 903 929 998

579 627 746 843 944

2 112 2 302 2 472 2 684 2 953

1 915 2 064 2 227 2 395 2 585

3 140 3 147 3 172 3 195 3 198

... ... ... ... 1 332

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

10 229 11 132 12 329 13 901 15 670

7 993 8 708 9 651 10 965 12 264

388 403 501 573 657

8 381 9 110 10 152 11 538 12 921

549 616 716 922 1 063

164 107 101 59 26

7 996 8 601 9 538 10 675 11 883

1 129 1 233 1 351 1 508 1 736

1 104 1 298 1 441 1 719 2 051

3 166 3 375 3 696 4 123 4 586

2 801 3 014 3 256 3 676 4 010

3 231 3 298 3 336 3 372 3 417

1 336 1 360 1 392 1 461 1 496

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

17 119 19 247 21 702 24 378 27 686

13 218 15 045 17 051 19 341 21 634

475 550 675 595 667

13 693 15 595 17 727 19 936 22 301

1 124 1 293 1 454 1 690 1 950

11 -23 1 12 4

12 580 14 279 16 273 18 259 20 355

1 956 2 146 2 471 2 949 3 634

2 583 2 822 2 959 3 171 3 697

4 935 5 452 6 071 6 750 7 598

4 413 4 857 5 363 5 945 6 696

3 469 3 530 3 575 3 611 3 644

1 465 1 523 1 579 1 645 1 668

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

29 965 33 296 35 477 36 630 41 139

22 940 24 726 25 629 26 730 29 648

549 928 895 224 1 109

23 488 25 654 26 524 26 954 30 757

2 064 2 396 2 528 2 655 3 001

28 -8 -18 12 -65

21 453 23 250 23 979 24 311 27 691

4 059 5 022 6 013 6 379 7 230

4 453 5 025 5 485 5 941 6 218

8 178 9 072 9 631 9 915 11 132

7 238 7 981 8 498 8 796 9 978

3 664 3 670 3 683 3 694 3 695

1 646 1 639 1 621 1 629 1 683

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

42 974 44 492 47 171 49 914 53 733

31 166 32 459 34 929 37 047 39 213

865 636 722 770 1 125

32 031 33 095 35 651 37 817 40 338

3 219 3 420 3 652 4 064 4 355

-76 -48 -78 -91 -138

28 736 29 626 31 920 33 663 35 845

7 731 8 055 8 207 8 782 9 698

6 506 6 811 7 044 7 469 8 190

11 631 12 065 12 807 13 564 14 612

10 379 10 775 11 388 12 072 12 920

3 695 3 688 3 683 3 680 3 677

1 706 1 742 1 775 1 827 1 877

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

57 026 60 160 64 671 66 791 70 148

41 431 43 101 47 009 49 229 51 763

1 045 1 068 1 306 1 104 1 139

42 475 44 168 48 315 50 333 52 901

4 677 4 961 5 389 5 737 6 169

-101 -142 -413 -424 -538

37 697 39 065 42 513 44 172 46 194

10 361 10 831 10 982 11 012 11 785

8 968 10 264 11 176 11 606 12 169

15 437 16 162 17 175 17 520 18 225

13 621 14 347 15 251 15 527 16 110

3 694 3 722 3 765 3 812 3 849

1 918 1 915 1 962 2 006 2 047

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

73 389 77 819 82 436 87 851 91 462

54 066 56 573 59 950 64 022 68 223

714 1 131 1 163 1 042 796

54 780 57 704 61 112 65 064 69 019

6 482 6 740 7 129 7 498 7 993

-573 -641 -657 -595 -686

47 725 50 323 53 326 56 970 60 340

12 581 13 607 14 482 15 845 15 528

13 084 13 889 14 627 15 035 15 593

18 879 19 854 20 855 22 043 22 763

16 625 17 443 18 218 19 218 19 834

3 887 3 920 3 953 3 985 4 018

2 123 2 155 2 203 2 244 2 291

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

98 845 101 346 103 619 106 688 112 566

72 430 74 503 77 377 80 881 84 904

1 442 953 157 347 580

73 872 75 456 77 534 81 228 85 485

8 182 8 478 8 808 9 124 9 590

-719 -976 -1 054 -1 323 -1 436

64 972 66 002 67 672 70 782 74 458

17 137 17 191 16 449 15 810 16 502

16 736 18 153 19 498 20 097 21 606

24 412 24 914 25 335 25 907 27 151

21 344 21 765 22 507 23 208 24 391

4 049 4 068 4 090 4 118 4 146

2 332 2 305 2 292 2 306 2 333

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

540

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

LOUISIANA 1958 ................................. 1959 .................................

5 162 5 412

4 114 4 279

187 203

4 301 4 482

140 159

-3 -2

4 159 4 321

625 679

378 411

1 636 1 687

1 496 1 524

3 155 3 208

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

5 510 5 723 6 038 6 441 6 894

4 356 4 464 4 747 5 042 5 494

183 215 202 257 223

4 539 4 679 4 949 5 300 5 717

185 187 208 246 262

-2 -1 0 -1 -1

4 353 4 491 4 740 5 054 5 455

721 747 794 852 885

436 486 504 535 554

1 690 1 741 1 805 1 907 2 001

1 541 1 587 1 641 1 726 1 830

3 260 3 287 3 345 3 377 3 446

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

7 456 8 242 9 024 9 880 10 453

6 007 6 763 7 405 8 159 8 655

195 236 265 297 239

6 202 6 999 7 670 8 455 8 894

285 389 432 489 568

-1 2 4 4 3

5 915 6 613 7 242 7 970 8 328

943 987 1 030 1 059 1 164

598 642 752 850 961

2 133 2 322 2 520 2 742 2 888

1 952 2 093 2 278 2 458 2 569

3 496 3 550 3 581 3 603 3 619

... ... ... ... 1 440

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

11 281 12 299 13 462 15 076 17 188

9 160 9 931 10 934 12 125 13 722

280 318 345 576 609

9 441 10 249 11 280 12 701 14 331

591 657 756 960 1 117

3 -9 -22 -38 -55

8 852 9 583 10 502 11 703 13 159

1 275 1 398 1 511 1 688 2 055

1 154 1 318 1 450 1 685 1 974

3 090 3 314 3 578 3 979 4 499

2 788 2 994 3 210 3 582 4 013

3 650 3 711 3 762 3 789 3 821

1 429 1 445 1 488 1 550 1 598

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

19 297 21 951 24 561 28 160 32 076

15 506 17 920 20 222 23 540 26 737

416 452 452 369 498

15 921 18 372 20 674 23 909 27 235

1 242 1 453 1 625 1 929 2 273

-84 -114 -141 -188 -234

14 595 16 805 18 907 21 791 24 727

2 262 2 456 2 760 3 219 3 764

2 439 2 689 2 893 3 150 3 585

4 964 5 555 6 116 6 913 7 749

4 478 4 962 5 448 6 113 6 801

3 887 3 952 4 016 4 073 4 139

1 641 1 702 1 756 1 848 1 899

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

37 067 42 887 45 962 47 894 51 348

30 700 35 149 36 735 37 172 39 558

169 261 260 228 318

30 869 35 411 36 995 37 400 39 875

2 595 3 182 3 383 3 376 3 661

-339 -365 -343 -324 -317

27 934 31 864 33 268 33 701 35 897

4 857 6 247 7 185 7 922 8 921

4 276 4 775 5 509 6 271 6 530

8 777 10 013 10 560 10 897 11 669

7 680 8 692 9 307 9 716 10 466

4 223 4 283 4 353 4 395 4 400

1 968 2 036 2 029 1 990 2 032

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

53 398 52 905 53 052 55 908 59 437

40 512 39 217 39 221 41 436 43 499

226 230 393 627 461

40 738 39 447 39 614 42 062 43 961

3 773 3 665 3 621 3 989 4 215

-286 -231 -196 -176 -142

36 679 35 551 35 797 37 898 39 604

9 685 9 633 9 438 9 817 10 879

7 034 7 720 7 818 8 193 8 955

12 113 12 005 12 212 13 036 13 976

10 853 10 887 11 052 11 845 12 620

4 408 4 407 4 344 4 289 4 253

2 020 1 939 1 915 1 947 1 966

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

64 052 67 628 72 000 75 161 80 043

47 034 49 404 52 211 54 150 57 071

381 448 554 566 659

47 414 49 852 52 765 54 717 57 729

4 569 4 912 5 126 5 360 5 785

-119 -137 -137 -139 -165

42 726 44 803 47 503 49 218 51 779

11 456 11 583 11 497 11 725 12 536

9 870 11 242 13 000 14 218 15 727

15 173 15 900 16 771 17 413 18 411

13 689 14 381 15 233 15 788 16 667

4 222 4 253 4 293 4 316 4 347

2 019 2 044 2 052 2 100 2 140

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

83 535 87 036 91 432 96 677 98 200

59 857 62 305 65 945 70 309 71 733

675 870 715 453 616

60 532 63 175 66 660 70 762 72 349

6 073 6 355 6 742 7 137 7 217

-193 -217 -233 -255 -249

54 265 56 603 59 685 63 370 64 884

13 530 14 435 15 415 16 684 16 193

15 741 15 999 16 331 16 622 17 123

19 077 19 786 20 681 21 772 22 014

17 228 17 690 18 373 19 385 19 650

4 379 4 399 4 421 4 440 4 461

2 209 2 254 2 305 2 355 2 374

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

103 151 110 256 112 709 116 176 122 913

74 913 79 924 82 477 86 222 90 559

502 467 231 651 617

75 415 80 392 82 707 86 874 91 176

7 380 7 845 8 138 8 400 8 746

-260 -139 -130 -164 -140

67 775 72 408 74 439 78 310 82 290

17 700 17 429 16 539 15 999 16 597

17 676 20 420 21 732 21 867 24 026

23 078 24 685 25 175 25 853 27 219

20 574 22 032 22 807 23 686 24 932

4 470 4 467 4 477 4 494 4 516

2 404 2 409 2 412 2 435 2 462

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

541

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MAINE 1958 ................................. 1959 .................................

1 678 1 749

1 294 1 409

100 59

1 395 1 468

52 60

-20 -24

1 322 1 383

215 219

141 148

1 778 1 828

1 626 1 674

944 957

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 854 1 872 1 950 2 014 2 179

1 473 1 513 1 576 1 626 1 734

102 66 65 58 88

1 575 1 579 1 641 1 684 1 823

70 73 78 87 92

-28 -29 -30 -30 -31

1 477 1 477 1 533 1 566 1 700

224 228 245 267 295

152 167 172 181 184

1 901 1 882 1 962 2 028 2 195

1 724 1 707 1 773 1 843 2 011

975 995 994 993 993

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 357 2 510 2 641 2 824 3 106

1 832 1 998 2 145 2 326 2 505

125 106 54 54 74

1 957 2 104 2 199 2 381 2 578

92 118 137 157 181

-30 -33 -35 -38 -23

1 834 1 953 2 027 2 185 2 375

331 347 365 360 419

192 210 248 279 312

2 364 2 513 2 630 2 841 3 131

2 168 2 300 2 396 2 557 2 782

997 999 1 004 994 992

... ... ... ... 443

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 400 3 647 3 993 4 509 5 034

2 705 2 872 3 159 3 497 3 799

77 66 64 147 195

2 782 2 937 3 223 3 644 3 993

193 211 241 301 337

-18 -17 -20 -11 -6

2 571 2 709 2 962 3 332 3 650

459 500 541 593 681

370 438 490 583 703

3 411 3 591 3 859 4 309 4 749

3 068 3 278 3 502 3 875 4 278

997 1 016 1 035 1 046 1 060

446 443 453 470 478

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

5 397 6 215 6 766 7 483 8 349

4 063 4 722 5 177 5 820 6 478

81 163 128 89 74

4 143 4 885 5 305 5 909 6 552

357 422 461 531 607

-19 -23 -25 -23 -17

3 767 4 440 4 819 5 355 5 929

732 800 908 1 013 1 160

899 975 1 038 1 115 1 260

5 029 5 702 6 121 6 708 7 422

4 578 5 170 5 556 6 053 6 658

1 073 1 090 1 105 1 115 1 125

475 498 513 532 546

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

9 406 10 415 11 282 12 108 13 506

7 140 7 663 8 134 8 841 9 831

48 117 103 71 117

7 189 7 780 8 238 8 913 9 948

670 773 835 912 1 045

-14 -50 -49 -40 -30

6 504 6 956 7 354 7 961 8 873

1 431 1 782 2 089 2 157 2 534

1 471 1 677 1 839 1 989 2 099

8 347 9 193 9 925 10 577 11 687

7 464 8 153 8 739 9 432 10 481

1 127 1 133 1 137 1 145 1 156

555 554 556 568 591

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

14 602 15 789 17 231 18 912 20 499

10 729 11 659 12 834 14 270 15 283

102 92 135 117 124

10 831 11 751 12 969 14 387 15 406

1 133 1 246 1 362 1 549 1 657

-9 29 48 61 60

9 689 10 535 11 655 12 900 13 810

2 693 2 951 3 219 3 513 3 997

2 221 2 304 2 357 2 500 2 693

12 556 13 494 14 546 15 710 16 803

11 209 11 976 12 789 13 851 14 827

1 163 1 170 1 185 1 204 1 220

610 635 658 692 708

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

21 402 21 681 22 606 23 156 24 092

15 741 15 603 16 216 16 678 17 239

166 121 176 157 148

15 907 15 724 16 392 16 835 17 387

1 704 1 721 1 818 1 925 2 033

58 75 119 179 240

14 261 14 078 14 692 15 088 15 593

4 135 4 144 4 099 4 049 4 298

3 006 3 459 3 815 4 018 4 201

17 376 17 526 18 253 18 639 19 387

15 387 15 627 16 343 16 688 17 292

1 232 1 237 1 239 1 242 1 243

707 683 686 697 708

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

25 044 26 484 27 830 29 710 31 016

17 679 18 406 19 332 20 612 21 939

123 151 106 138 154

17 802 18 558 19 438 20 750 22 092

2 110 2 171 2 290 2 417 2 555

310 364 436 511 580

16 002 16 750 17 584 18 844 20 118

4 613 4 991 5 279 5 744 5 619

4 429 4 743 4 967 5 122 5 279

20 140 21 203 22 179 23 596 24 484

17 965 18 801 19 509 20 576 21 343

1 243 1 249 1 255 1 259 1 267

710 720 733 753 770

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

33 173 35 107 35 965 37 251 39 482

23 226 24 719 25 493 26 557 28 151

146 117 53 74 77

23 371 24 837 25 545 26 631 28 228

2 666 2 812 2 857 2 941 3 079

701 726 710 706 756

21 406 22 751 23 398 24 396 25 905

6 179 6 338 6 089 5 834 6 078

5 588 6 018 6 477 7 021 7 499

25 969 27 286 27 713 28 453 29 973

22 489 23 711 24 619 25 532 26 923

1 277 1 287 1 298 1 309 1 317

792 797 799 804 814

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

542

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MARYLAND 1958 ................................. 1959 .................................

6 580 6 954

5 040 5 365

103 85

5 143 5 450

188 239

466 516

5 422 5 727

848 901

311 327

2 207 2 268

1 940 1 976

2 982 3 066

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

7 312 7 771 8 403 8 997 9 822

5 622 5 941 6 417 6 848 7 435

93 88 84 66 85

5 715 6 029 6 500 6 913 7 520

289 312 350 380 396

582 641 720 804 886

6 008 6 359 6 870 7 337 8 010

964 1 021 1 117 1 225 1 352

340 391 416 436 460

2 349 2 447 2 575 2 657 2 813

2 041 2 141 2 226 2 288 2 460

3 113 3 176 3 263 3 386 3 492

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

10 727 11 841 12 913 14 305 16 230

8 035 9 015 9 601 10 668 11 866

96 77 94 86 131

8 131 9 093 9 694 10 755 11 997

398 526 585 641 750

1 003 1 117 1 366 1 528 2 154

8 735 9 684 10 476 11 641 13 401

1 488 1 600 1 746 1 837 1 885

504 557 691 826 944

2 980 3 205 3 437 3 750 4 196

2 598 2 754 2 948 3 128 3 482

3 600 3 695 3 757 3 815 3 868

... ... ... ... 1 679

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

17 951 19 640 21 555 23 861 26 329

12 944 14 079 15 481 17 260 18 949

120 93 127 208 163

13 064 14 172 15 608 17 468 19 112

815 916 1 059 1 353 1 531

2 512 2 764 3 000 3 203 3 478

14 761 16 020 17 549 19 318 21 058

2 064 2 248 2 433 2 727 3 166

1 126 1 373 1 574 1 816 2 105

4 558 4 883 5 282 5 807 6 370

3 857 4 190 4 457 4 929 5 369

3 938 4 023 4 081 4 109 4 133

1 702 1 729 1 781 1 846 1 868

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

28 656 31 444 34 306 38 027 42 135

20 109 22 281 24 337 27 080 29 946

202 173 128 182 158

20 311 22 454 24 465 27 262 30 104

1 622 1 806 1 972 2 258 2 607

3 864 4 179 4 586 4 953 5 388

22 553 24 827 27 079 29 957 32 885

3 456 3 767 4 190 4 720 5 449

2 647 2 850 3 037 3 350 3 801

6 893 7 537 8 179 9 029 9 977

5 918 6 473 6 965 7 673 8 430

4 157 4 172 4 195 4 212 4 223

1 846 1 866 1 919 2 003 2 061

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

47 296 52 794 57 330 61 841 68 984

32 846 36 134 38 006 41 516 46 396

56 127 142 88 263

32 902 36 261 38 149 41 604 46 659

2 861 3 377 3 613 4 071 4 672

5 961 6 434 7 008 7 382 8 079

36 002 39 318 41 544 44 916 50 065

6 767 8 289 10 013 10 630 12 282

4 526 5 187 5 774 6 296 6 636

11 187 12 388 13 386 14 337 15 803

9 511 10 415 11 336 12 313 13 558

4 228 4 262 4 283 4 313 4 365

2 075 2 102 2 090 2 158 2 253

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

75 325 81 069 87 696 95 867 103 528

50 925 55 292 60 547 66 462 70 968

275 285 298 364 362

51 201 55 577 60 845 66 826 71 330

5 285 5 863 6 352 7 276 7 861

8 729 9 361 10 136 11 230 12 077

54 645 59 075 64 629 70 780 75 546

13 665 14 510 15 295 16 800 18 953

7 015 7 484 7 771 8 288 9 029

17 069 18 068 19 208 20 582 21 900

14 721 15 593 16 379 17 765 18 724

4 413 4 487 4 566 4 658 4 727

2 356 2 443 2 572 2 668 2 726

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

109 686 113 436 118 847 122 906 128 523

75 228 76 595 79 974 83 059 86 718

351 305 353 329 311

75 579 76 901 80 327 83 388 87 029

8 417 8 725 9 032 9 386 9 944

12 546 13 216 14 068 14 474 14 942

79 708 81 392 85 363 88 476 92 026

20 088 20 961 21 012 21 446 22 861

9 890 11 083 12 472 12 984 13 636

22 852 23 304 24 139 24 720 25 587

19 591 20 135 20 951 21 406 22 085

4 800 4 868 4 923 4 972 5 023

2 760 2 683 2 656 2 679 2 726

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

133 814 140 035 147 843 157 784 167 075

90 440 93 880 100 100 106 978 114 411

219 398 274 331 349

90 659 94 279 100 374 107 309 114 760

10 331 10 678 11 326 12 034 12 769

14 992 15 347 15 310 16 649 17 611

95 320 98 947 104 358 111 924 119 603

24 048 25 566 27 583 29 550 30 200

14 446 15 522 15 901 16 310 17 272

26 393 27 393 28 666 30 317 31 796

22 676 23 396 24 091 25 610 26 813

5 070 5 112 5 157 5 204 5 255

2 788 2 827 2 891 2 947 3 018

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

181 957 191 657 198 785 206 515 220 261

124 081 131 865 138 562 144 828 154 803

354 293 132 277 366

124 435 132 158 138 693 145 105 155 168

13 613 14 628 15 350 15 976 17 122

19 892 20 321 21 042 21 978 23 895

130 715 137 851 144 386 151 107 161 941

32 998 33 910 32 939 32 512 34 292

18 245 19 896 21 460 22 896 24 028

34 257 35 628 36 531 37 464 39 629

28 800 30 063 31 523 32 633 34 518

5 312 5 379 5 442 5 512 5 558

3 092 3 129 3 162 3 198 3 246

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

543

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MASSACHUSETTS 1958 ................................. 1959 .................................

11 553 12 350

9 446 10 226

67 59

9 513 10 285

353 427

-56 -69

9 104 9 788

1 574 1 687

874 874

2 306 2 413

2 041 2 124

5 010 5 117

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

12 869 13 510 14 303 14 866 15 890

10 657 11 151 11 829 12 229 12 952

68 60 60 60 62

10 725 11 211 11 889 12 289 13 014

499 528 617 679 697

-75 -83 -93 -99 -109

10 150 10 600 11 180 11 511 12 208

1 798 1 883 2 072 2 245 2 531

921 1 027 1 051 1 110 1 151

2 494 2 589 2 718 2 782 2 917

2 175 2 276 2 379 2 434 2 595

5 160 5 219 5 263 5 344 5 448

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

16 966 18 318 19 937 21 805 23 734

13 749 15 028 16 197 17 670 19 262

68 71 56 64 66

13 818 15 099 16 252 17 735 19 328

714 942 1 032 1 138 1 259

-122 -141 -158 -176 -126

12 982 14 015 15 062 16 421 17 943

2 772 3 002 3 270 3 449 3 635

1 212 1 300 1 605 1 936 2 156

3 084 3 309 3 564 3 881 4 201

2 740 2 914 3 132 3 359 3 572

5 502 5 535 5 594 5 618 5 650

... ... ... ... 2 679

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

25 568 27 271 29 436 32 081 34 754

20 590 21 783 23 667 26 017 27 700

69 63 62 70 69

20 659 21 846 23 729 26 088 27 769

1 323 1 443 1 647 2 069 2 269

-108 -111 -110 -134 -150

19 228 20 292 21 972 23 885 25 350

3 791 3 960 4 151 4 481 5 001

2 550 3 019 3 313 3 716 4 404

4 483 4 752 5 109 5 547 6 016

3 872 4 161 4 398 4 811 5 205

5 704 5 739 5 762 5 784 5 777

2 679 2 644 2 697 2 787 2 811

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

37 217 40 233 43 770 48 413 53 926

28 668 31 440 34 557 38 736 43 372

68 76 79 103 90

28 737 31 516 34 636 38 839 43 461

2 290 2 550 2 811 3 242 3 788

-155 -182 -224 -287 -361

26 292 28 784 31 600 35 310 39 312

5 195 5 513 6 073 6 635 7 453

5 731 5 936 6 098 6 468 7 161

6 459 6 998 7 620 8 430 9 385

5 678 6 107 6 619 7 297 8 050

5 762 5 749 5 744 5 743 5 746

2 728 2 756 2 833 2 959 3 079

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

60 920 68 062 74 684 81 246 91 835

48 178 52 825 56 835 62 745 71 536

105 116 131 164 182

48 283 52 940 56 966 62 909 71 719

4 217 4 985 5 488 6 135 7 218

-483 -599 -729 -906 -1 180

43 583 47 357 50 749 55 867 63 321

9 165 11 417 13 894 14 737 17 321

8 172 9 289 10 041 10 642 11 194

10 602 11 798 12 941 14 009 15 723

9 053 9 987 11 082 12 057 13 603

5 746 5 769 5 771 5 799 5 841

3 142 3 155 3 157 3 230 3 422

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

99 445 107 119 116 181 127 622 134 399

78 467 85 208 93 682 103 283 107 024

160 175 153 173 152

78 627 85 383 93 835 103 456 107 175

7 995 8 777 9 558 10 690 11 056

-1 366 -1 502 -1 683 -1 917 -2 040

69 266 75 104 82 595 90 848 94 080

18 465 19 692 20 913 23 126 24 930

11 714 12 323 12 673 13 647 15 390

16 910 18 148 19 575 21 341 22 342

14 544 15 531 16 660 18 412 19 178

5 881 5 903 5 935 5 980 6 015

3 533 3 629 3 661 3 770 3 743

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

138 782 141 024 147 930 152 578 160 322

108 597 108 226 114 834 119 513 125 587

151 171 171 166 151

108 748 108 396 115 005 119 679 125 738

11 227 11 401 11 992 12 610 13 431

-2 089 -2 295 -2 401 -2 613 -2 824

95 432 94 700 100 613 104 456 109 483

26 109 26 555 26 696 26 951 28 393

17 241 19 770 20 622 21 171 22 445

23 043 23 432 24 538 25 176 26 303

19 795 20 272 21 281 21 745 22 639

6 023 6 018 6 029 6 061 6 095

3 647 3 480 3 510 3 576 3 645

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

168 623 178 797 189 885 203 987 216 221

132 142 140 371 149 449 161 510 175 021

148 169 169 107 106

132 289 140 540 149 619 161 617 175 127

14 231 15 029 16 164 17 279 18 592

-2 891 -3 153 -3 428 -3 656 -4 247

115 167 122 358 130 027 140 683 152 288

29 801 32 042 34 439 37 686 37 540

23 655 24 397 25 419 25 618 26 393

27 457 28 933 30 498 32 524 34 227

23 458 24 439 25 500 26 916 28 126

6 141 6 180 6 226 6 272 6 317

3 680 3 744 3 833 3 917 3 989

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

240 209 249 095 249 928 255 375 270 145

195 723 200 623 200 723 204 633 218 260

116 97 106 108 115

195 839 200 721 200 829 204 741 218 375

20 551 21 152 21 023 21 316 22 977

-5 116 -5 074 -4 911 -4 877 -5 104

170 173 174 495 174 895 178 548 190 295

42 108 43 988 41 670 42 764 44 381

27 928 30 613 33 363 34 064 35 469

37 756 38 949 38 975 39 776 42 102

30 310 31 803 33 413 34 426 36 506

6 362 6 395 6 413 6 420 6 417

4 097 4 125 4 065 4 030 4 044

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

544

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MICHIGAN 1958 ................................. 1959 .................................

17 188 18 278

13 954 15 158

295 220

14 249 15 378

560 695

30 34

13 719 14 717

2 286 2 488

1 183 1 073

2 242 2 353

2 025 2 115

7 667 7 767

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

19 088 19 156 20 582 22 021 24 210

15 800 15 411 16 724 18 018 19 813

234 293 269 292 289

16 034 15 704 16 993 18 310 20 101

824 786 888 1 038 1 077

37 38 41 44 49

15 246 14 956 16 146 17 317 19 074

2 730 2 868 3 131 3 377 3 771

1 112 1 332 1 304 1 327 1 366

2 437 2 427 2 595 2 733 2 957

2 174 2 183 2 314 2 429 2 662

7 834 7 893 7 933 8 058 8 187

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

26 937 29 419 30 765 34 072 36 523

22 103 24 418 25 205 28 062 30 769

268 342 271 300 345

22 371 24 760 25 476 28 362 31 115

1 122 1 571 1 652 1 853 2 203

54 63 68 76 107

21 303 23 252 23 892 26 585 29 019

4 158 4 550 4 871 5 175 4 945

1 476 1 617 2 002 2 312 2 559

3 223 3 456 3 565 3 918 4 159

2 890 3 083 3 175 3 429 3 571

8 357 8 512 8 630 8 696 8 781

... ... ... ... 3 640

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

37 346 40 372 44 824 50 345 53 956

31 039 33 744 37 704 42 829 44 629

334 305 420 555 640

31 374 34 049 38 124 43 384 45 270

2 193 2 446 2 901 3 794 4 077

112 104 112 138 140

29 293 31 706 35 336 39 728 41 333

4 837 4 827 5 170 5 691 6 471

3 216 3 839 4 318 4 925 6 153

4 198 4 500 4 967 5 550 5 923

3 654 3 951 4 285 4 824 5 174

8 897 8 972 9 025 9 072 9 109

3 558 3 571 3 687 3 858 3 854

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

57 435 64 660 72 818 80 986 89 110

45 633 52 806 60 448 68 222 74 493

570 471 552 500 534

46 204 53 277 61 000 68 722 75 027

4 087 4 789 5 485 6 394 7 197

154 197 223 270 310

42 271 48 685 55 737 62 598 68 140

7 088 7 665 8 547 9 312 10 504

8 076 8 311 8 534 9 076 10 467

6 306 7 092 7 952 8 801 9 635

5 595 6 200 6 888 7 551 8 269

9 108 9 117 9 157 9 202 9 249

3 695 3 844 4 016 4 188 4 234

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

95 460 102 206 105 189 111 468 123 531

75 328 79 421 78 622 83 679 93 384

525 505 402 214 540

75 853 79 927 79 025 83 893 93 924

7 181 8 188 8 242 8 948 10 351

355 384 393 427 491

69 026 72 123 71 176 75 372 84 064

12 625 15 456 17 682 18 812 21 990

13 809 14 627 16 331 17 284 17 477

10 314 11 098 11 540 12 320 13 651

8 983 9 634 10 147 10 797 11 999

9 256 9 209 9 115 9 048 9 049

4 039 3 992 3 837 3 881 4 059

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

134 083 142 459 147 486 156 961 168 637

102 618 109 552 113 544 122 341 129 411

653 482 660 580 967

103 271 110 035 114 204 122 921 130 378

11 659 12 629 12 973 14 386 15 261

512 495 512 523 517

92 124 97 900 101 743 109 058 115 634

23 920 25 643 26 291 27 631 31 067

18 039 18 915 19 452 20 272 21 937

14 773 15 607 16 053 17 028 18 225

12 895 13 642 13 984 14 901 15 878

9 076 9 128 9 187 9 218 9 253

4 257 4 373 4 511 4 612 4 742

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

176 189 181 655 192 788 201 574 217 812

134 549 137 697 148 021 155 626 169 356

757 645 740 742 566

135 305 138 343 148 760 156 368 169 922

15 869 16 406 17 435 18 536 20 325

457 472 599 663 763

119 893 122 409 131 924 138 494 150 360

32 537 32 558 32 883 33 204 37 309

23 758 26 688 27 981 29 876 30 143

18 922 19 324 20 338 21 129 22 694

16 571 17 028 18 040 18 567 19 888

9 311 9 400 9 479 9 540 9 598

4 825 4 754 4 783 4 843 5 016

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

227 466 237 193 248 821 265 098 278 062

177 753 183 594 191 430 205 821 218 175

711 629 655 633 838

178 464 184 222 192 086 206 454 219 013

21 386 21 903 22 969 24 035 25 441

734 758 849 892 995

157 812 163 077 169 966 183 312 194 567

38 018 40 784 43 479 46 690 45 859

31 635 33 333 35 376 35 096 37 635

23 508 24 306 25 367 26 919 28 095

20 487 21 040 21 857 23 077 24 099

9 676 9 759 9 809 9 848 9 897

5 175 5 282 5 363 5 416 5 519

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

294 227 299 542 303 535 318 491 324 134

230 621 233 516 238 104 251 254 253 173

560 359 426 613 786

231 181 233 875 238 530 251 867 253 959

26 411 26 358 26 746 27 496 28 217

1 005 1 063 1 131 1 202 1 282

205 775 208 580 212 914 225 573 227 024

49 515 47 635 45 766 45 883 48 154

38 938 43 327 44 855 47 035 48 956

29 552 29 940 30 225 31 589 32 052

25 435 25 995 26 813 28 391 28 845

9 956 10 005 10 042 10 082 10 113

5 629 5 540 5 483 5 451 5 467

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

545

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MINNESOTA 1958 ................................. 1959 .................................

6 645 6 905

4 886 5 287

594 409

5 480 5 695

179 220

1 0

5 302 5 475

879 942

464 488

2 006 2 052

1 800 1 836

3 313 3 366

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

7 332 7 706 8 129 8 620 8 968

5 575 5 818 6 263 6 521 6 979

505 529 456 608 390

6 080 6 347 6 719 7 128 7 370

260 269 303 339 348

-1 -3 -3 -4 -4

5 819 6 075 6 414 6 785 7 018

1 006 1 061 1 125 1 210 1 299

507 571 590 625 651

2 141 2 221 2 314 2 441 2 520

1 907 1 980 2 054 2 175 2 271

3 425 3 470 3 513 3 531 3 558

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

9 914 10 749 11 562 12 731 14 157

7 531 8 308 9 035 10 001 11 177

641 721 633 672 709

8 172 9 028 9 668 10 673 11 886

372 522 601 683 782

-7 -13 -17 -24 -33

7 793 8 493 9 050 9 966 11 071

1 413 1 495 1 587 1 707 1 925

708 761 925 1 058 1 161

2 760 2 972 3 160 3 438 3 767

2 478 2 650 2 808 3 038 3 270

3 592 3 617 3 659 3 703 3 758

... ... ... ... 1 691

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

15 411 16 417 17 845 21 033 22 671

11 948 12 736 13 821 15 462 17 045

863 786 946 2 165 1 626

12 811 13 522 14 767 17 628 18 671

826 911 1 038 1 336 1 528

-29 -28 -30 -38 -34

11 956 12 582 13 699 16 254 17 110

2 081 2 242 2 384 2 713 3 139

1 373 1 593 1 762 2 065 2 423

4 039 4 262 4 615 5 414 5 815

3 554 3 789 4 040 4 804 5 059

3 815 3 852 3 867 3 885 3 898

1 699 1 706 1 780 1 878 1 921

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

24 432 26 580 29 978 33 703 37 603

18 413 20 697 22 914 26 160 29 778

1 247 767 1 485 1 605 1 221

19 660 21 464 24 398 27 765 30 998

1 615 1 847 2 045 2 412 2 858

-34 -43 -55 -70 -88

18 011 19 574 22 298 25 283 28 052

3 497 3 797 4 305 4 795 5 498

2 924 3 210 3 375 3 624 4 052

6 223 6 718 7 533 8 416 9 312

5 454 5 854 6 552 7 284 7 983

3 926 3 957 3 980 4 005 4 038

1 920 1 977 2 034 2 123 2 222

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

41 898 46 460 49 807 52 586 59 664

32 485 35 134 36 680 39 255 44 180

934 1 018 804 107 1 421

33 418 36 152 37 484 39 362 45 601

3 111 3 609 3 842 4 165 4 800

-92 -131 -154 -183 -238

30 215 32 411 33 488 35 014 40 563

6 826 8 474 10 050 10 814 12 009

4 857 5 575 6 268 6 758 7 092

10 256 11 299 12 056 12 698 14 350

8 838 9 705 10 420 11 023 12 587

4 085 4 112 4 131 4 141 4 158

2 254 2 241 2 201 2 228 2 335

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

63 458 67 102 71 516 75 230 82 088

47 404 50 169 53 912 58 303 62 152

1 322 1 622 2 125 1 237 2 022

48 726 51 791 56 036 59 540 64 174

5 238 5 657 6 067 6 819 7 304

-286 -327 -378 -458 -442

43 202 45 807 49 591 52 263 56 428

12 721 13 423 13 802 14 392 16 338

7 535 7 873 8 123 8 575 9 322

15 166 15 957 16 886 17 511 18 923

13 306 14 047 14 738 15 311 16 520

4 184 4 205 4 235 4 296 4 338

2 399 2 432 2 526 2 598 2 653

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

87 318 90 050 96 401 98 571 105 971

66 158 68 981 74 824 77 927 82 409

1 916 1 159 1 396 177 1 287

68 073 70 140 76 220 78 104 83 696

7 823 8 310 8 954 9 436 10 146

-469 -477 -513 -519 -568

59 781 61 354 66 753 68 149 72 983

17 517 17 909 17 938 18 065 19 968

10 020 10 787 11 710 12 357 13 021

19 891 20 278 21 443 21 636 22 985

17 304 17 739 18 707 18 790 19 964

4 390 4 441 4 496 4 556 4 610

2 712 2 736 2 781 2 835 2 923

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

112 209 121 195 128 388 139 553 146 722

87 062 92 732 98 786 107 639 115 346

503 1 886 1 152 1 556 1 071

87 565 94 618 99 938 109 195 116 418

10 708 11 367 12 044 12 946 13 821

-614 -684 -777 -837 -946

76 244 82 567 87 117 95 412 101 650

22 161 24 182 26 524 28 941 29 205

13 804 14 447 14 747 15 200 15 867

24 078 25 716 26 953 28 993 30 106

20 814 21 986 22 994 24 649 25 784

4 660 4 713 4 763 4 813 4 873

3 015 3 077 3 129 3 202 3 275

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

157 964 162 578 166 980 173 300 184 515

124 400 128 707 132 756 137 460 146 361

1 016 448 596 925 1 681

125 416 129 156 133 352 138 386 148 042

14 734 15 342 15 760 16 412 17 357

-1 040 -1 136 -1 131 -1 168 -1 231

109 642 112 677 116 461 120 806 129 454

31 339 30 918 29 926 30 876 32 232

16 983 18 982 20 594 21 619 22 829

32 017 32 609 33 229 34 221 36 173

27 187 27 826 28 905 30 109 31 904

4 934 4 986 5 025 5 064 5 101

3 344 3 363 3 362 3 378 3 424

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

546

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MISSISSIPPI 1958 ................................. 1959 .................................

2 396 2 651

1 758 1 922

271 333

2 029 2 255

72 87

9 10

1 966 2 178

226 254

204 219

1 149 1 240

1 076 1 155

2 086 2 138

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

2 680 2 895 3 023 3 331 3 454

1 990 2 074 2 228 2 374 2 543

278 350 294 428 366

2 268 2 423 2 522 2 801 2 909

101 104 115 136 143

12 13 15 17 20

2 179 2 332 2 422 2 682 2 785

268 301 328 359 366

233 262 273 290 303

1 228 1 312 1 348 1 484 1 541

1 136 1 223 1 245 1 370 1 434

2 182 2 206 2 243 2 244 2 241

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

3 749 4 078 4 417 4 834 5 303

2 823 3 158 3 384 3 768 4 160

348 343 383 361 346

3 171 3 501 3 767 4 129 4 506

152 197 226 252 291

22 23 25 32 35

3 041 3 327 3 565 3 908 4 249

380 391 421 437 503

328 360 431 489 552

1 669 1 816 1 983 2 179 2 389

1 547 1 670 1 825 1 994 2 172

2 246 2 245 2 228 2 219 2 220

... ... ... ... 909

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

5 813 6 450 7 352 8 439 9 308

4 432 4 860 5 594 6 321 7 013

391 433 490 688 510

4 823 5 293 6 084 7 010 7 523

311 351 422 539 616

36 58 73 93 123

4 549 4 999 5 735 6 564 7 029

575 637 699 810 966

689 814 918 1 065 1 313

2 617 2 847 3 187 3 591 3 913

2 369 2 619 2 889 3 276 3 534

2 221 2 266 2 307 2 350 2 379

917 939 979 1 019 1 031

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

10 086 11 529 12 870 14 345 16 263

7 510 8 587 9 678 10 993 12 205

372 572 606 449 699

7 882 9 159 10 284 11 442 12 904

654 757 851 984 1 131

150 182 223 279 337

7 378 8 584 9 655 10 737 12 110

1 077 1 167 1 312 1 513 1 762

1 631 1 779 1 903 2 095 2 392

4 203 4 744 5 232 5 766 6 485

3 859 4 321 4 779 5 206 5 835

2 400 2 430 2 460 2 488 2 508

1 001 1 039 1 071 1 102 1 117

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

17 695 19 928 21 064 22 021 24 278

13 168 14 416 14 802 15 557 16 979

178 327 421 99 473

13 346 14 743 15 223 15 656 17 452

1 216 1 429 1 505 1 597 1 777

425 455 473 530 594

12 555 13 770 14 191 14 589 16 270

2 275 2 909 3 298 3 494 3 935

2 865 3 250 3 575 3 939 4 074

7 007 7 849 8 238 8 576 9 417

6 305 7 011 7 494 7 768 8 581

2 525 2 539 2 557 2 568 2 578

1 114 1 110 1 083 1 091 1 121

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

25 602 26 440 27 962 29 832 32 164

17 983 18 749 19 641 20 962 22 257

433 198 584 731 562

18 416 18 946 20 224 21 693 22 819

1 917 2 045 2 135 2 387 2 564

624 609 647 688 731

17 123 17 511 18 736 19 994 20 986

4 211 4 409 4 516 4 819 5 682

4 268 4 520 4 710 5 019 5 496

9 892 10 194 10 802 11 561 12 495

9 010 9 323 9 845 10 576 11 374

2 588 2 594 2 589 2 580 2 574

1 129 1 136 1 147 1 176 1 196

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

33 754 35 607 38 199 40 596 43 805

23 567 24 634 26 425 28 534 30 802

433 538 641 547 818

24 001 25 172 27 066 29 081 31 620

2 712 2 885 3 073 3 335 3 668

754 813 832 852 854

22 042 23 100 24 824 26 598 28 805

5 754 5 871 5 926 6 057 6 598

5 958 6 635 7 449 7 940 8 402

13 089 13 702 14 559 15 290 16 291

11 910 12 525 13 319 13 941 14 801

2 579 2 599 2 624 2 655 2 689

1 210 1 218 1 241 1 294 1 343

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

45 973 48 646 51 514 54 820 56 719

32 211 33 488 35 315 37 875 39 635

681 1 067 1 174 958 955

32 892 34 555 36 490 38 833 40 590

3 850 3 977 4 175 4 421 4 614

943 986 1 124 1 204 1 310

29 985 31 565 33 439 35 616 37 286

6 900 7 416 8 016 8 889 8 748

9 088 9 665 10 058 10 315 10 685

16 885 17 702 18 550 19 545 20 053

15 314 16 004 16 733 17 593 18 038

2 723 2 748 2 777 2 805 2 828

1 374 1 398 1 424 1 462 1 488

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

59 837 62 739 63 923 66 664 70 770

41 267 42 332 43 836 45 833 48 284

724 905 316 893 1 338

41 991 43 237 44 153 46 726 49 622

4 707 4 819 5 019 5 202 5 457

1 506 1 658 1 693 1 738 1 853

38 790 40 077 40 827 43 262 46 018

9 547 9 782 9 207 8 967 9 239

11 500 12 880 13 889 14 435 15 512

21 005 21 950 22 291 23 126 24 379

18 935 19 834 20 395 21 343 22 560

2 849 2 858 2 868 2 883 2 903

1 493 1 470 1 473 1 473 1 490

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

547

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MISSOURI 1958 ................................. 1959 .................................

8 692 9 211

6 822 7 372

559 468

7 381 7 840

260 311

-149 -165

6 971 7 363

1 122 1 215

598 633

2 076 2 163

1 864 1 938

4 186 4 258

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

9 483 9 796 10 325 10 840 11 452

7 623 7 793 8 265 8 771 9 403

437 476 478 430 326

8 060 8 269 8 743 9 202 9 730

358 375 408 469 491

-176 -182 -198 -222 -246

7 526 7 713 8 137 8 511 8 993

1 286 1 338 1 417 1 521 1 628

671 745 771 808 830

2 192 2 252 2 370 2 468 2 578

1 950 2 004 2 100 2 182 2 316

4 326 4 349 4 357 4 392 4 442

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

12 449 13 314 14 170 15 683 16 551

10 084 11 094 11 852 13 052 14 162

525 408 396 472 442

10 609 11 502 12 249 13 524 14 604

517 695 796 898 954

-271 -310 -346 -382 -758

9 820 10 497 11 107 12 244 12 892

1 741 1 857 1 943 2 127 2 232

888 960 1 120 1 313 1 427

2 787 2 944 3 122 3 433 3 567

2 486 2 617 2 773 3 028 3 085

4 467 4 523 4 539 4 568 4 640

... ... ... ... 2 216

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

18 037 19 431 21 140 23 542 25 235

15 085 16 087 17 456 19 089 20 650

516 563 704 1 206 627

15 600 16 649 18 161 20 295 21 277

1 004 1 108 1 261 1 584 1 766

-702 -683 -703 -737 -763

13 895 14 858 16 197 17 975 18 748

2 451 2 623 2 833 3 119 3 596

1 691 1 950 2 111 2 449 2 890

3 850 4 114 4 448 4 931 5 273

3 376 3 643 3 889 4 358 4 624

4 685 4 723 4 753 4 775 4 785

2 203 2 200 2 242 2 325 2 341

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

27 602 30 433 33 839 37 743 42 199

21 920 24 747 27 557 30 825 34 195

687 460 706 905 1 164

22 607 25 208 28 263 31 730 35 359

1 841 2 095 2 330 2 695 3 087

-773 -850 -990 -1 143 -1 307

19 993 22 263 24 943 27 892 30 965

3 955 4 277 4 832 5 431 6 234

3 654 3 893 4 064 4 420 5 000

5 756 6 309 6 984 7 748 8 631

5 120 5 570 6 167 6 792 7 529

4 795 4 824 4 845 4 871 4 889

2 291 2 365 2 424 2 513 2 580

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

45 893 51 359 54 839 58 534 65 162

36 617 39 478 41 306 44 455 49 343

225 759 338 -110 410

36 843 40 237 41 644 44 345 49 754

3 284 3 795 4 051 4 387 4 995

-1 524 -1 663 -1 730 -1 758 -1 886

32 034 34 779 35 863 38 199 42 873

7 778 9 743 11 522 12 327 13 930

6 082 6 836 7 454 8 008 8 359

9 324 10 413 11 125 11 840 13 097

8 143 9 054 9 625 10 468 11 642

4 922 4 932 4 929 4 944 4 975

2 554 2 549 2 525 2 571 2 679

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

69 812 73 310 77 057 81 340 86 570

52 925 55 978 59 356 63 171 66 431

785 571 728 648 893

53 710 56 549 60 084 63 819 67 324

5 477 5 908 6 219 6 842 7 283

-2 003 -2 052 -2 177 -2 265 -2 395

46 230 48 589 51 687 54 712 57 646

14 765 15 438 15 811 16 541 17 997

8 817 9 282 9 559 10 087 10 927

13 962 14 595 15 239 16 006 16 988

12 364 12 937 13 466 14 179 14 975

5 000 5 023 5 057 5 082 5 096

2 753 2 816 2 854 2 905 2 960

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

90 407 94 900 100 945 104 699 111 005

69 167 71 308 76 098 79 308 84 013

682 561 804 493 680

69 849 71 869 76 903 79 801 84 693

7 670 8 001 8 440 8 857 9 506

-2 626 -2 639 -2 814 -2 922 -2 917

59 553 61 229 65 648 68 022 72 270

19 014 19 883 20 548 20 881 22 179

11 839 13 789 14 749 15 796 16 556

17 627 18 353 19 349 19 862 20 848

15 536 16 312 17 240 17 654 18 466

5 129 5 171 5 217 5 271 5 324

2 993 2 962 2 977 3 061 3 134

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

115 948 122 469 129 992 137 619 142 925

88 669 92 921 98 557 105 196 111 165

232 1 040 1 096 614 247

88 901 93 961 99 654 105 810 111 411

10 081 10 514 11 141 11 671 12 281

-3 143 -3 277 -3 484 -3 691 -3 767

75 678 80 170 85 029 90 448 95 363

22 666 23 802 25 766 27 453 26 837

17 604 18 497 19 197 19 718 20 725

21 559 22 548 23 716 24 923 25 697

19 013 19 777 20 701 21 683 22 345

5 378 5 432 5 481 5 522 5 562

3 218 3 277 3 349 3 405 3 450

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

152 722 156 937 161 093 166 998 175 611

117 772 120 401 124 407 128 324 133 962

657 555 215 531 1 510

118 429 120 956 124 622 128 855 135 473

12 842 13 288 13 672 14 047 14 593

-4 056 -3 938 -3 993 -3 895 -3 995

101 530 103 729 106 957 110 913 116 884

29 030 28 768 27 904 28 726 29 770

22 162 24 439 26 231 27 359 28 957

27 241 27 813 28 363 29 199 30 516

23 676 24 181 25 227 26 280 27 531

5 606 5 643 5 680 5 719 5 755

3 497 3 481 3 471 3 477 3 513

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

548

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MONTANA 1958 ................................. 1959 .................................

1 380 1 352

906 956

235 146

1 142 1 102

44 51

0 0

1 098 1 052

182 193

100 107

2 072 2 021

1 891 1 806

666 669

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 405 1 402 1 646 1 631 1 662

996 1 041 1 104 1 153 1 206

160 107 274 209 166

1 156 1 149 1 378 1 362 1 373

62 62 64 72 74

0 * 0 0 0

1 094 1 086 1 314 1 290 1 298

203 198 213 220 238

108 117 119 121 126

2 069 2 014 2 358 2 319 2 355

1 864 1 801 2 144 2 094 2 153

679 696 698 703 706

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 787 1 915 1 952 2 052 2 276

1 282 1 367 1 408 1 487 1 613

187 223 188 194 239

1 470 1 590 1 596 1 680 1 853

76 99 108 115 127

0 0 0 -1 -1

1 394 1 491 1 487 1 565 1 724

259 282 296 296 342

134 143 169 191 209

2 531 2 709 2 785 2 932 3 279

2 300 2 451 2 510 2 642 2 872

706 707 701 700 694

... ... ... ... 298

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 518 2 684 3 116 3 628 3 947

1 736 1 897 2 133 2 389 2 700

289 249 398 573 462

2 025 2 145 2 531 2 961 3 162

137 152 179 229 264

-1 -1 0 0 1

1 886 1 992 2 352 2 733 2 899

390 411 454 535 626

241 280 310 360 423

3 611 3 774 4 332 4 987 5 354

3 215 3 404 3 863 4 432 4 743

697 711 719 727 737

301 307 319 333 344

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4 347 4 696 5 104 5 998 6 466

3 012 3 447 3 886 4 430 4 887

396 222 68 299 115

3 409 3 669 3 954 4 729 5 003

285 326 371 435 500

3 3 4 3 6

3 126 3 346 3 588 4 297 4 509

707 781 903 1 027 1 197

514 569 613 674 759

5 802 6 191 6 617 7 650 8 193

5 190 5 495 5 835 6 791 7 171

749 759 771 784 789

344 359 372 390 397

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

7 144 8 124 8 566 9 009 9 609

5 204 5 659 5 811 6 143 6 570

118 223 168 123 42

5 322 5 881 5 979 6 265 6 611

537 626 656 701 760

14 25 18 9 6

4 799 5 281 5 341 5 573 5 857

1 453 1 811 2 069 2 170 2 401

892 1 032 1 155 1 266 1 351

9 058 10 214 10 654 11 067 11 706

7 955 9 007 9 502 9 912 10 528

789 795 804 814 821

394 396 392 400 410

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

9 793 10 148 10 448 10 640 11 707

6 745 6 704 6 895 7 260 7 646

-86 233 314 106 413

6 659 6 938 7 209 7 366 8 059

792 810 833 931 997

3 -2 -3 0 -2

5 871 6 126 6 373 6 435 7 059

2 494 2 496 2 477 2 519 2 801

1 429 1 525 1 598 1 686 1 847

11 909 12 470 12 978 13 296 14 641

10 718 11 331 11 700 11 917 13 043

822 814 805 800 800

409 404 408 419 427

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

12 361 13 213 13 928 15 012 15 384

8 097 8 693 9 376 10 094 10 634

386 544 467 769 366

8 483 9 237 9 843 10 863 11 001

1 077 1 182 1 291 1 432 1 518

-4 -11 -2 1 6

7 402 8 043 8 550 9 432 9 489

2 935 3 045 3 087 3 112 3 343

2 024 2 125 2 291 2 467 2 552

15 448 16 318 16 867 17 770 17 861

13 795 14 656 15 115 15 939 15 939

800 810 826 845 861

436 447 459 473 497

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

16 084 16 880 17 688 18 857 19 373

10 964 11 402 11 814 12 596 13 176

322 295 329 337 391

11 286 11 697 12 143 12 932 13 567

1 534 1 538 1 555 1 598 1 651

9 12 14 18 22

9 761 10 171 10 602 11 353 11 938

3 604 3 835 4 174 4 489 4 443

2 719 2 874 2 912 3 015 2 991

18 349 19 047 19 877 21 130 21 585

16 402 16 983 17 660 18 738 19 087

877 886 890 892 898

507 523 529 540 548

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

20 716 22 359 22 843 24 096 25 643

14 077 15 295 15 794 16 812 18 005

244 286 225 435 440

14 321 15 581 16 019 17 247 18 445

1 733 1 853 1 970 2 077 2 201

26 32 31 29 30

12 614 13 760 14 080 15 199 16 274

4 763 4 995 4 974 4 979 5 157

3 339 3 605 3 789 3 919 4 212

22 929 24 672 25 083 26 244 27 666

20 233 21 887 22 616 23 850 25 123

904 906 911 918 927

559 566 572 582 597

. . . = Not available. * = Less than $50,000, but the estimates for this item are included in the total.

CHAPTER 21: REGIONAL AND STATE DATA

549

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEBRASKA 1958 ................................. 1959 .................................

2 863 2 892

1 824 1 992

521 357

2 345 2 349

75 93

-9 -9

2 261 2 247

442 471

160 174

2 070 2 070

1 891 1 885

1 383 1 397

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

3 072 3 138 3 411 3 502 3 592

2 129 2 235 2 359 2 441 2 586

385 312 430 384 304

2 514 2 547 2 789 2 825 2 891

116 119 128 140 146

-11 -11 -10 -9 -8

2 387 2 417 2 652 2 676 2 736

500 516 544 597 619

185 205 216 229 236

2 168 2 170 2 330 2 373 2 423

1 957 1 943 2 109 2 140 2 214

1 417 1 446 1 464 1 476 1 482

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

3 951 4 252 4 403 4 692 5 261

2 701 2 908 3 141 3 433 3 800

490 583 481 438 596

3 191 3 490 3 622 3 871 4 397

148 196 228 245 269

-8 -8 -8 -8 -100

3 035 3 287 3 386 3 618 4 028

659 685 676 679 804

258 280 341 394 430

2 686 2 920 3 022 3 198 3 570

2 462 2 655 2 734 2 868 3 140

1 471 1 456 1 457 1 467 1 474

... ... ... ... 704

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

5 642 6 197 6 874 8 042 8 379

4 121 4 438 4 879 5 466 6 078

534 681 800 1 219 759

4 655 5 120 5 679 6 685 6 837

289 320 364 467 541

-107 -110 -119 -123 -133

4 259 4 689 5 196 6 095 6 164

885 946 1 059 1 207 1 369

498 562 619 741 847

3 792 4 120 4 527 5 261 5 449

3 363 3 719 4 014 4 678 4 785

1 488 1 504 1 518 1 529 1 538

715 728 748 775 793

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

9 523 9 970 10 817 12 534 13 527

6 579 7 478 8 151 9 128 10 202

1 099 579 522 1 074 740

7 677 8 056 8 673 10 202 10 943

579 661 723 832 970

-140 -147 -146 -169 -198

6 959 7 248 7 805 9 201 9 775

1 528 1 620 1 838 2 030 2 300

1 036 1 103 1 174 1 303 1 451

6 178 6 437 6 959 8 030 8 647

5 535 5 743 6 128 7 111 7 555

1 541 1 549 1 554 1 561 1 564

790 811 831 855 877

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

14 403 16 722 17 984 18 630 20 826

11 053 11 887 12 352 12 989 14 329

98 822 760 540 1 150

11 151 12 708 13 111 13 528 15 479

1 051 1 209 1 287 1 355 1 525

-215 -255 -262 -276 -328

9 885 11 244 11 562 11 897 13 627

2 824 3 526 4 272 4 405 4 758

1 693 1 952 2 151 2 327 2 441

9 160 10 593 11 370 11 759 13 109

8 015 9 351 9 889 10 498 11 846

1 572 1 579 1 582 1 584 1 589

879 874 864 870 889

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

21 978 22 565 23 549 25 095 26 497

15 089 15 614 16 436 17 477 18 526

1 442 1 406 1 630 2 026 1 834

16 531 17 020 18 066 19 503 20 360

1 651 1 756 1 859 2 069 2 209

-353 -351 -347 -380 -389

14 527 14 913 15 860 17 054 17 761

4 859 4 942 4 916 5 148 5 633

2 593 2 710 2 772 2 893 3 102

13 869 14 333 15 032 15 969 16 825

12 527 12 942 13 521 14 355 15 022

1 585 1 574 1 567 1 571 1 575

902 902 930 953 971

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

28 444 29 563 31 184 32 105 34 012

19 736 20 678 21 948 23 084 24 518

2 182 1 979 2 087 1 735 1 787

21 918 22 658 24 034 24 818 26 306

2 372 2 508 2 630 2 769 2 961

-382 -420 -458 -472 -479

19 164 19 730 20 947 21 577 22 865

5 915 6 226 6 313 6 341 6 779

3 365 3 608 3 924 4 187 4 367

17 983 18 524 19 349 19 750 20 751

16 031 16 566 17 329 17 656 18 515

1 582 1 596 1 612 1 626 1 639

994 998 1 005 1 027 1 068

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

36 006 39 382 40 576 43 314 45 116

26 296 27 887 29 465 31 387 33 311

1 311 2 555 1 823 1 723 1 472

27 607 30 442 31 288 33 110 34 783

3 101 3 264 3 462 3 686 3 874

-524 -579 -653 -684 -762

23 982 26 599 27 173 28 741 30 146

7 377 7 822 8 272 9 096 9 148

4 647 4 961 5 131 5 477 5 822

21 730 23 530 24 061 25 542 26 465

19 290 20 879 21 132 22 392 23 175

1 657 1 674 1 686 1 696 1 705

1 077 1 103 1 118 1 144 1 166

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

47 329 49 303 50 347 53 427 56 393

35 157 36 471 37 857 39 504 41 684

963 1 201 665 1 985 2 193

36 120 37 672 38 522 41 489 43 878

4 031 4 200 4 379 4 549 4 738

-825 -833 -887 -927 -963

31 263 32 639 33 255 36 013 38 176

9 991 9 998 10 023 10 036 10 474

6 075 6 666 7 069 7 378 7 743

27 625 28 684 29 162 30 750 32 276

24 090 25 124 26 111 27 879 29 272

1 713 1 719 1 726 1 737 1 747

1 183 1 182 1 180 1 187 1 202

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

550

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEVADA 1958 ................................. 1959 .................................

705 776

595 663

22 19

617 682

26 30

-2 -2

589 650

79 88

37 38

2 622 2 780

2 309 2 470

269 279

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

851 941 1 134 1 276 1 387

730 805 985 1 127 1 222

14 13 18 20 11

744 817 1 004 1 147 1 234

36 40 50 66 67

-2 -3 -4 -6 -5

706 775 950 1 075 1 161

104 117 133 143 161

41 49 51 58 65

2 923 2 988 3 222 3 213 3 257

2 573 2 606 2 829 2 804 2 909

291 315 352 397 426

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 487 1 570 1 668 1 935 2 164

1 285 1 359 1 429 1 642 1 888

13 18 17 19 32

1 299 1 377 1 446 1 661 1 921

66 80 86 100 132

-5 -4 -3 -4 -34

1 228 1 294 1 356 1 557 1 754

187 199 217 265 285

72 78 95 113 125

3 348 3 521 3 715 4 170 4 509

2 999 3 144 3 309 3 632 3 830

444 446 449 464 480

... ... ... ... 244

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 435 2 719 3 043 3 474 3 873

2 096 2 322 2 589 2 976 3 277

34 35 42 56 34

2 130 2 357 2 631 3 032 3 311

144 165 194 256 287

-39 -42 -45 -55 -57

1 947 2 151 2 393 2 721 2 967

340 384 433 499 591

148 184 218 254 315

4 936 5 229 5 566 6 107 6 491

4 360 4 674 4 944 5 429 5 752

493 520 547 569 597

256 267 280 304 317

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4 365 5 009 5 786 6 996 8 157

3 622 4 191 4 919 6 029 7 005

33 35 27 23 9

3 655 4 226 4 946 6 052 7 014

312 367 438 552 678

-58 -68 -84 -117 -132

3 284 3 791 4 424 5 383 6 204

644 730 829 1 010 1 242

438 489 534 603 711

7 043 7 745 8 533 9 725 10 661

6 404 6 938 7 593 8 566 9 314

620 647 678 719 765

326 349 384 432 468

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

9 480 10 809 11 594 12 317 13 521

7 965 8 927 9 228 9 778 10 716

57 27 32 26 35

8 022 8 954 9 261 9 804 10 751

775 928 951 1 048 1 190

-160 -170 -171 -179 -191

7 087 7 857 8 139 8 576 9 369

1 529 1 900 2 283 2 458 2 777

863 1 053 1 172 1 283 1 374

11 700 12 752 13 152 13 656 14 618

10 300 11 192 11 651 12 193 13 080

810 848 882 902 925

490 502 497 502 528

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

14 723 15 856 17 260 19 531 22 019

11 601 12 531 13 799 15 800 17 627

28 27 48 64 78

11 630 12 559 13 847 15 864 17 705

1 313 1 458 1 621 1 878 2 125

-199 -217 -241 -280 -325

10 118 10 884 11 985 13 706 15 254

3 095 3 289 3 479 3 850 4 485

1 510 1 683 1 796 1 975 2 281

15 481 16 170 16 865 18 168 19 360

13 776 14 346 14 880 15 966 17 012

951 981 1 023 1 075 1 137

551 577 623 670 719

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

24 837 26 910 29 844 32 143 35 641

19 831 20 891 23 028 25 017 27 653

81 73 70 117 81

19 912 20 964 23 098 25 134 27 734

2 387 2 551 2 779 3 041 3 398

-381 -351 -313 -354 -367

17 144 18 062 20 006 21 739 23 969

5 085 5 645 6 209 6 567 7 649

2 607 3 203 3 629 3 837 4 023

20 346 20 761 22 084 22 777 23 772

17 866 18 383 19 526 20 053 21 015

1 221 1 296 1 351 1 411 1 499

766 779 786 829 909

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

39 250 43 466 47 388 52 371 56 462

30 519 33 715 36 638 40 341 44 151

69 72 72 95 89

30 588 33 787 36 710 40 436 44 240

3 736 4 041 4 310 4 582 4 831

-365 -386 -340 -349 -379

26 487 29 360 32 059 35 504 39 030

8 397 9 395 10 321 11 529 11 855

4 366 4 711 5 008 5 338 5 577

24 817 26 085 26 862 28 260 29 184

21 941 22 803 23 531 24 576 25 349

1 582 1 666 1 764 1 853 1 935

964 1 035 1 102 1 145 1 215

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

61 428 64 367 66 649 71 632 78 876

47 304 49 386 50 912 54 977 61 439

97 102 83 91 99

47 401 49 487 50 995 55 068 61 538

4 701 4 988 5 245 5 627 6 180

-339 -302 -305 -361 -449

42 361 44 198 45 445 49 079 54 909

13 067 13 351 13 545 14 392 15 108

5 999 6 819 7 658 8 160 8 859

30 437 30 721 30 738 31 947 33 783

26 322 26 783 27 308 28 663 30 345

2 018 2 095 2 168 2 242 2 335

1 268 1 289 1 304 1 354 1 430

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

551

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEW HAMPSHIRE 1958 ................................. 1959 .................................

1 163 1 265

887 976

21 16

908 992

39 46

57 70

926 1 016

155 163

83 86

2 002 2 122

1 807 1 912

581 596

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 336 1 407 1 509 1 569 1 686

1 025 1 068 1 142 1 185 1 271

19 20 19 17 18

1 044 1 089 1 160 1 202 1 289

55 56 62 68 71

79 85 94 100 108

1 068 1 118 1 193 1 234 1 326

178 188 211 223 244

90 102 105 113 116

2 194 2 277 2 387 2 418 2 543

1 959 2 040 2 134 2 150 2 309

609 618 632 649 663

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 822 2 005 2 191 2 424 2 705

1 365 1 519 1 668 1 838 1 992

21 24 17 20 21

1 386 1 543 1 685 1 858 2 012

75 103 116 128 129

119 139 154 173 232

1 430 1 579 1 723 1 902 2 116

268 294 313 342 386

123 132 155 180 203

2 695 2 945 3 143 3 418 3 736

2 435 2 630 2 805 3 029 3 295

676 681 697 709 724

... ... ... ... 334

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 883 3 123 3 454 3 905 4 304

2 113 2 270 2 525 2 882 3 119

16 14 16 21 13

2 130 2 284 2 541 2 902 3 132

135 150 176 229 257

220 230 252 284 329

2 215 2 364 2 617 2 957 3 204

427 467 515 568 644

241 292 322 380 455

3 886 4 098 4 419 4 870 5 267

3 409 3 662 3 888 4 340 4 673

742 762 782 802 817

334 336 350 374 381

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4 655 5 298 5 992 6 918 7 933

3 266 3 787 4 304 5 032 5 762

17 19 18 19 21

3 283 3 806 4 322 5 051 5 784

266 310 353 420 503

359 411 480 572 681

3 375 3 906 4 449 5 203 5 962

694 768 883 993 1 144

586 624 660 723 827

5 608 6 255 6 873 7 739 8 700

5 049 5 588 6 109 6 817 7 653

830 847 872 894 912

370 394 418 446 469

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

9 104 10 323 11 382 12 517 14 211

6 397 7 062 7 629 8 563 9 694

14 23 19 17 21

6 410 7 084 7 648 8 580 9 715

560 669 741 841 977

849 959 1 050 1 174 1 390

6 699 7 375 7 957 8 913 10 129

1 435 1 812 2 180 2 274 2 674

969 1 135 1 246 1 331 1 408

9 850 11 021 12 010 13 064 14 547

8 698 9 703 10 698 11 631 12 997

924 937 948 958 977

483 494 500 520 556

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

15 763 17 407 19 252 21 178 22 615

10 930 12 256 13 814 15 254 15 864

24 24 43 45 34

10 954 12 280 13 856 15 299 15 898

1 125 1 285 1 430 1 621 1 700

1 513 1 598 1 723 1 876 1 968

11 342 12 594 14 150 15 554 16 166

2 947 3 267 3 524 3 910 4 531

1 474 1 546 1 579 1 714 1 918

15 815 16 981 18 261 19 563 20 475

14 018 14 957 16 067 17 335 18 157

997 1 025 1 054 1 083 1 105

589 622 639 665 665

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

22 817 23 518 24 594 25 273 26 972

15 773 15 619 16 706 17 449 18 492

43 44 51 43 41

15 817 15 663 16 758 17 492 18 532

1 720 1 740 1 845 1 924 2 082

2 004 2 190 2 247 2 370 2 468

16 101 16 113 17 159 17 938 18 919

4 568 4 543 4 384 4 383 4 696

2 149 2 863 3 051 2 953 3 358

20 512 21 189 22 002 22 376 23 607

18 292 19 031 19 777 20 016 21 141

1 112 1 110 1 118 1 129 1 143

648 621 633 647 670

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

28 647 31 045 32 420 35 149 37 125

19 637 20 859 22 536 24 694 26 424

36 42 39 42 45

19 673 20 901 22 575 24 736 26 469

2 228 2 352 2 536 2 753 2 929

2 456 2 624 2 829 2 946 3 410

19 901 21 173 22 869 24 928 26 949

5 131 6 302 5 830 6 363 6 244

3 615 3 570 3 721 3 858 3 932

24 748 26 427 27 257 29 147 30 380

22 094 23 434 23 770 25 403 26 278

1 158 1 175 1 189 1 206 1 222

685 701 722 745 763

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

41 429 42 624 43 441 44 521 47 661

29 364 30 315 31 138 32 439 34 870

42 38 34 40 43

29 405 30 353 31 173 32 479 34 913

3 210 3 354 3 423 3 558 3 815

4 043 4 015 3 903 3 890 4 059

30 239 31 014 31 652 32 812 35 157

6 986 7 044 6 794 6 629 6 938

4 204 4 566 4 994 5 080 5 566

33 396 33 850 34 055 34 547 36 676

28 566 29 205 30 383 31 175 33 180

1 241 1 259 1 276 1 289 1 300

785 795 795 804 819

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

552

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEW JERSEY 1958 ................................. 1959 .................................

14 369 15 456

11 477 12 474

133 105

11 610 12 580

469 557

684 769

11 825 12 792

1 698 1 809

847 855

2 440 2 570

2 160 2 279

5 890 6 015

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

16 288 17 112 18 410 19 320 20 731

13 087 13 633 14 592 15 227 16 175

120 119 108 106 102

13 207 13 752 14 700 15 333 16 277

660 694 771 869 881

855 912 1 013 1 088 1 205

13 403 13 970 14 943 15 552 16 601

1 989 2 118 2 389 2 608 2 925

896 1 024 1 079 1 159 1 205

2 669 2 731 2 887 2 958 3 113

2 357 2 411 2 545 2 605 2 793

6 103 6 265 6 376 6 531 6 660

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

22 283 24 138 26 025 28 601 32 013

17 303 18 890 20 250 22 151 24 081

118 118 104 102 104

17 421 19 008 20 354 22 253 24 186

934 1 212 1 345 1 533 1 827

1 317 1 514 1 680 1 888 3 117

17 804 19 310 20 689 22 608 25 476

3 194 3 442 3 694 4 030 4 325

1 285 1 385 1 642 1 964 2 212

3 293 3 523 3 757 4 083 4 512

2 932 3 135 3 319 3 575 3 913

6 767 6 851 6 928 7 005 7 095

... ... ... ... 3 061

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

34 663 37 285 40 492 44 253 48 161

26 049 27 829 30 383 33 599 36 184

99 93 88 126 137

26 149 27 922 30 472 33 725 36 320

1 957 2 168 2 482 3 128 3 458

3 071 3 155 3 354 3 511 3 701

27 263 28 908 31 343 34 109 36 564

4 712 5 100 5 485 6 012 6 748

2 689 3 276 3 664 4 132 4 848

4 821 5 120 5 519 6 033 6 566

4 225 4 549 4 835 5 331 5 779

7 190 7 282 7 337 7 335 7 335

3 125 3 119 3 184 3 288 3 301

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

51 810 56 579 62 009 68 857 76 525

37 723 41 568 45 747 51 302 56 860

96 101 111 126 126

37 819 41 669 45 858 51 428 56 985

3 541 3 930 4 313 4 985 5 744

3 983 4 326 4 720 5 301 6 057

38 261 42 065 46 265 51 744 57 298

7 211 7 673 8 526 9 431 10 684

6 338 6 842 7 218 7 681 8 544

7 057 7 704 8 446 9 360 10 379

6 299 6 809 7 383 8 160 8 956

7 341 7 344 7 342 7 356 7 373

3 191 3 248 3 325 3 464 3 555

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

86 355 96 485 104 313 112 659 124 744

62 436 68 287 73 032 79 741 88 809

114 148 165 191 199

62 549 68 436 73 198 79 932 89 008

6 325 7 378 8 007 8 979 10 422

7 159 7 797 8 339 8 573 8 976

63 384 68 854 73 529 79 526 87 562

13 209 16 668 18 766 20 155 23 648

9 763 10 963 12 018 12 978 13 533

11 707 13 025 14 038 15 086 16 598

10 084 11 188 12 070 13 118 14 501

7 376 7 407 7 431 7 468 7 515

3 608 3 643 3 651 3 753 3 933

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

133 915 143 017 154 440 169 577 181 461

96 368 104 150 114 160 126 764 133 204

226 228 260 260 254

96 594 104 378 114 420 127 024 133 458

11 391 12 485 13 605 15 329 15 980

9 355 9 953 10 505 10 836 10 339

94 558 101 846 111 321 122 531 127 816

25 171 26 320 27 770 30 701 36 138

14 186 14 852 15 350 16 345 17 506

17 701 18 763 20 134 21 988 23 487

15 321 16 212 17 237 19 041 20 354

7 566 7 622 7 671 7 712 7 726

4 049 4 146 4 248 4 349 4 386

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

190 753 194 174 207 904 213 222 220 859

139 588 140 848 150 184 156 037 162 295

234 220 237 268 286

139 821 141 068 150 421 156 305 162 581

16 641 17 191 18 256 18 953 20 037

10 556 10 647 12 656 13 077 13 144

133 736 134 524 144 821 150 429 155 688

37 702 37 633 37 478 36 017 38 032

19 315 22 016 25 604 26 776 27 139

24 572 24 847 26 382 26 824 27 558

21 381 21 700 23 084 23 357 23 897

7 763 7 815 7 881 7 949 8 014

4 344 4 204 4 201 4 228 4 264

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

233 937 248 320 263 420 282 721 294 385

170 507 179 807 189 111 203 154 213 763

284 303 248 261 234

170 790 180 110 189 359 203 415 213 997

20 840 21 722 22 502 23 902 25 071

14 226 15 672 18 451 20 798 22 436

164 176 174 060 185 309 200 311 211 362

40 712 43 856 47 048 50 775 50 143

29 049 30 404 31 063 31 636 32 881

28 941 30 470 32 051 34 115 35 215

25 158 26 299 27 411 28 914 29 600

8 083 8 150 8 219 8 287 8 360

4 330 4 386 4 446 4 524 4 595

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

323 554 332 951 337 873 343 421 362 190

233 138 238 171 245 203 252 239 265 274

304 269 246 237 247

233 441 238 440 245 449 252 476 265 521

26 854 27 970 28 635 29 198 30 241

25 657 27 219 24 819 24 734 27 371

232 244 237 689 241 633 248 011 262 650

56 234 56 587 54 151 52 305 54 806

35 076 38 676 42 089 43 105 44 734

38 365 39 142 39 392 39 737 41 636

32 010 32 817 34 067 34 734 36 421

8 434 8 506 8 577 8 642 8 699

4 755 4 789 4 806 4 838 4 894

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

553

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEW MEXICO 1958 ................................. 1959 .................................

1 630 1 754

1 322 1 448

113 99

1 435 1 546

45 54

-13 -14

1 377 1 478

168 184

84 93

1 840 1 909

1 672 1 728

886 919

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 807 1 891 1 965 2 029 2 144

1 494 1 533 1 622 1 672 1 785

86 101 82 85 65

1 580 1 634 1 703 1 757 1 850

61 61 66 74 78

-14 -14 -15 -16 -17

1 505 1 558 1 623 1 667 1 755

200 214 223 233 254

102 118 120 129 135

1 894 1 959 2 008 2 052 2 131

1 719 1 778 1 816 1 857 1 955

954 965 979 989 1 006

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 272 2 393 2 481 2 683 2 942

1 877 1 967 2 040 2 182 2 399

77 99 89 101 107

1 954 2 066 2 129 2 284 2 506

81 104 121 124 152

-19 -19 -20 -21 -22

1 854 1 943 1 989 2 138 2 332

272 294 297 316 350

145 156 195 228 261

2 245 2 376 2 481 2 699 2 910

2 041 2 161 2 257 2 443 2 588

1 012 1 007 1 000 994 1 011

... ... ... ... 395

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 262 3 601 4 043 4 551 5 143

2 592 2 856 3 225 3 610 4 078

131 129 136 179 147

2 723 2 986 3 362 3 789 4 225

163 188 221 283 328

-22 -22 -20 -17 -15

2 538 2 775 3 121 3 489 3 881

399 448 500 562 662

325 378 422 500 601

3 188 3 419 3 752 4 122 4 553

2 849 3 106 3 380 3 716 4 086

1 023 1 053 1 078 1 104 1 130

399 416 440 461 478

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

5 876 6 601 7 429 8 515 9 666

4 596 5 263 5 981 6 872 7 746

176 123 134 167 206

4 772 5 386 6 116 7 039 7 952

367 421 481 565 667

-13 -12 -11 -11 -9

4 393 4 953 5 623 6 463 7 275

745 823 937 1 098 1 290

738 825 869 954 1 101

5 054 5 523 6 064 6 802 7 549

4 618 5 003 5 486 6 091 6 751

1 163 1 195 1 225 1 252 1 281

491 512 539 568 593

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

10 929 12 415 13 559 14 594 16 030

8 561 9 637 10 281 10 921 12 030

179 128 115 126 145

8 740 9 765 10 396 11 046 12 176

740 893 972 1 035 1 165

-3 -15 -17 -13 -6

7 996 8 857 9 407 9 998 11 005

1 623 2 062 2 506 2 797 3 102

1 310 1 497 1 647 1 800 1 923

8 346 9 316 9 942 10 467 11 315

7 483 8 255 8 789 9 476 10 286

1 309 1 333 1 364 1 394 1 417

598 613 621 633 658

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

17 376 17 993 18 769 19 816 21 173

12 929 13 270 13 784 14 537 15 319

207 193 240 320 381

13 136 13 463 14 024 14 857 15 700

1 272 1 333 1 376 1 514 1 614

1 9 24 35 43

11 865 12 139 12 671 13 378 14 129

3 450 3 637 3 753 3 926 4 246

2 060 2 217 2 345 2 512 2 797

12 080 12 301 12 695 13 296 14 078

10 958 11 212 11 443 11 995 12 637

1 438 1 463 1 479 1 490 1 504

678 684 703 739 754

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

22 708 24 302 25 963 27 753 29 662

16 407 17 549 18 776 20 215 21 511

416 402 484 533 463

16 822 17 951 19 260 20 748 21 974

1 737 1 887 2 006 2 167 2 357

51 64 81 99 117

15 136 16 128 17 335 18 680 19 734

4 525 4 783 4 848 4 977 5 506

3 046 3 391 3 781 4 096 4 421

14 924 15 625 16 273 16 959 17 631

13 413 14 088 14 687 15 254 15 831

1 522 1 555 1 595 1 636 1 682

767 790 803 831 863

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

31 701 33 345 34 961 37 046 38 046

22 924 23 626 24 728 26 134 26 974

397 413 559 614 726

23 321 24 039 25 287 26 748 27 700

2 524 2 597 2 722 2 852 2 967

130 150 173 196 224

20 926 21 592 22 739 24 091 24 957

5 925 6 472 6 804 7 261 7 061

4 849 5 282 5 418 5 694 6 028

18 426 19 029 19 698 20 656 21 042

16 566 17 034 17 529 18 382 18 681

1 720 1 752 1 775 1 793 1 808

905 915 929 945 951

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

40 318 44 138 44 982 46 782 49 778

28 692 31 234 32 631 34 099 36 474

504 712 516 569 716

29 196 31 946 33 147 34 669 37 190

3 115 3 337 3 520 3 693 3 874

250 251 259 265 281

26 332 28 860 29 885 31 241 33 597

7 545 8 080 7 190 7 123 7 128

6 441 7 198 7 906 8 418 9 053

22 135 24 088 24 247 24 903 26 154

19 578 21 496 21 900 22 696 23 865

1 821 1 832 1 855 1 879 1 903

973 978 988 1 015 1 038

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

554

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEW YORK 1958 ................................. 1959 .................................

42 844 45 478

35 970 38 431

374 314

36 344 38 745

1 434 1 711

-589 -663

34 321 36 371

5 925 6 385

2 597 2 721

2 581 2 726

2 263 2 373

16 601 16 685

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

47 504 49 537 52 265 54 369 58 119

40 258 41 747 44 181 45 662 48 468

348 359 282 330 313

40 607 42 106 44 463 45 992 48 781

2 040 2 191 2 489 2 712 2 681

-738 -792 -879 -945 -1 042

37 828 39 123 41 095 42 335 45 058

6 882 7 207 7 875 8 485 9 338

2 794 3 207 3 295 3 549 3 723

2 821 2 904 3 021 3 114 3 304

2 452 2 511 2 615 2 696 2 902

16 838 17 061 17 301 17 461 17 589

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

61 648 66 196 71 480 78 777 83 071

51 125 55 520 59 466 65 221 70 374

361 421 376 385 435

51 486 55 941 59 842 65 606 70 810

2 803 3 719 4 031 4 444 5 283

-1 129 -1 284 -1 429 -1 611 -3 370

47 554 50 938 54 382 59 551 62 156

10 079 10 623 11 198 12 012 13 177

4 016 4 636 5 900 7 213 7 738

3 476 3 710 3 985 4 364 4 588

3 042 3 226 3 437 3 736 3 866

17 734 17 843 17 935 18 051 18 105

... ... ... ... 8 496

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

89 047 94 929 101 465 108 510 117 015

74 870 79 090 84 851 91 179 96 764

415 405 347 465 435

75 285 79 495 85 199 91 644 97 199

5 525 6 021 6 786 8 402 9 177

-3 320 -3 426 -3 682 -3 900 -4 124

66 440 70 047 74 731 79 342 83 898

13 696 14 132 14 735 15 873 17 692

8 912 10 750 11 999 13 295 15 425

4 874 5 169 5 529 5 964 6 475

4 182 4 499 4 758 5 159 5 582

18 272 18 365 18 352 18 195 18 073

8 468 8 348 8 350 8 468 8 395

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

125 715 134 312 145 284 158 202 173 257

101 226 108 634 117 785 129 462 142 323

372 395 325 425 530

101 598 109 029 118 110 129 887 142 853

9 443 10 240 11 004 12 359 14 064

-4 471 -4 915 -5 468 -6 121 -6 979

87 683 93 875 101 638 111 407 121 810

18 518 19 655 21 900 24 010 27 111

19 514 20 782 21 746 22 785 24 336

6 972 7 472 8 138 8 928 9 825

6 100 6 514 7 069 7 721 8 437

18 032 17 975 17 852 17 720 17 634

8 175 8 128 8 202 8 381 8 591

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

193 492 216 592 235 868 252 521 281 237

156 467 172 221 185 233 197 967 219 483

521 535 512 363 484

156 988 172 756 185 745 198 331 219 967

15 326 17 978 19 580 21 209 23 922

-8 203 -8 989 -9 865 -10 334 -11 005

133 459 145 788 156 300 166 787 185 040

32 079 39 247 45 045 48 380 56 657

27 955 31 556 34 523 37 353 39 540

11 015 12 329 13 409 14 277 15 848

9 424 10 454 11 352 12 282 13 687

17 567 17 568 17 590 17 687 17 746

8 622 8 700 8 710 8 771 9 058

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

300 275 320 223 341 560 372 771 400 769

236 364 254 715 275 384 301 956 316 180

552 645 727 642 764

236 916 255 360 276 111 302 598 316 944

26 256 28 610 30 469 34 131 35 868

-11 661 -12 570 -13 388 -14 183 -13 782

198 999 214 180 232 255 254 284 267 294

59 537 61 820 63 931 70 236 80 513

41 739 44 223 45 375 48 252 52 962

16 877 17 956 19 115 20 777 22 286

14 473 15 381 16 212 17 818 18 986

17 792 17 833 17 869 17 941 17 983

9 293 9 494 9 552 9 768 9 841

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

423 897 434 304 453 737 462 008 475 979

332 467 334 699 354 874 362 389 370 458

745 617 728 792 665

333 212 335 316 355 602 363 181 371 123

37 849 38 691 40 470 41 543 43 347

-14 083 -14 151 -17 429 -17 363 -17 370

281 280 282 475 297 702 304 275 310 406

84 547 86 538 83 690 80 922 85 003

58 069 65 291 72 344 76 811 80 570

23 523 23 965 24 867 25 143 25 785

20 183 20 750 21 525 21 650 22 197

18 021 18 123 18 247 18 375 18 459

9 817 9 567 9 494 9 516 9 551

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

501 667 528 363 557 024 591 847 619 659

389 360 411 259 436 661 469 379 498 632

545 777 474 716 827

389 905 412 036 437 135 470 096 499 459

44 952 46 314 48 332 51 014 53 642

-19 760 -22 529 -25 017 -28 639 -30 402

325 193 343 193 363 785 390 443 415 415

90 770 95 589 103 491 108 539 108 354

85 704 89 580 89 748 92 864 95 889

27 082 28 424 29 857 31 555 32 816

23 268 24 212 25 245 26 461 27 296

18 524 18 588 18 657 18 756 18 883

9 601 9 686 9 819 10 015 10 220

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

663 005 679 886 676 856 690 365 737 039

537 852 550 300 548 886 557 893 595 591

770 851 505 697 702

538 623 551 151 549 391 558 590 596 293

57 239 59 470 60 133 61 993 64 650

-34 495 -35 416 -32 385 -32 131 -35 360

446 888 456 264 456 873 464 465 496 282

115 784 113 585 103 078 103 127 107 765

100 334 110 036 116 904 122 772 132 991

34 897 35 622 35 343 35 933 38 333

28 881 29 169 30 065 30 935 32 922

18 999 19 086 19 151 19 212 19 227

10 455 10 491 10 415 10 452 10 563

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

555

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NORTH CAROLINA 1958 ................................. 1959 .................................

6 552 7 014

5 065 5 609

625 518

5 690 6 127

214 257

9 9

5 485 5 879

666 705

400 430

1 497 1 573

1 383 1 435

4 376 4 458

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

7 414 7 834 8 416 8 849 9 596

5 879 6 140 6 653 7 072 7 687

600 639 621 599 628

6 478 6 779 7 275 7 670 8 316

306 314 346 412 435

9 10 10 11 11

6 181 6 474 6 939 7 270 7 892

776 836 924 985 1 081

457 524 552 595 623

1 621 1 680 1 788 1 866 1 998

1 473 1 526 1 615 1 682 1 823

4 573 4 663 4 707 4 742 4 802

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

10 349 11 484 12 429 13 702 15 272

8 440 9 499 10 362 11 642 12 885

526 611 602 514 667

8 966 10 110 10 964 12 156 13 553

467 617 714 825 899

11 10 10 12 16

8 510 9 504 10 259 11 343 12 670

1 160 1 243 1 311 1 377 1 495

679 738 859 981 1 107

2 128 2 346 2 510 2 738 3 036

1 922 2 107 2 257 2 429 2 655

4 863 4 896 4 952 5 004 5 031

... ... ... ... 2 458

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

16 661 18 181 20 569 23 407 25 830

13 881 15 184 17 280 19 492 21 304

666 622 743 1 155 1 101

14 546 15 805 18 023 20 647 22 405

971 1 101 1 308 1 677 1 900

13 10 4 2 8

13 589 14 714 16 720 18 972 20 513

1 734 1 898 2 094 2 398 2 784

1 337 1 568 1 756 2 038 2 532

3 267 3 496 3 884 4 349 4 730

2 879 3 108 3 409 3 844 4 155

5 099 5 201 5 296 5 382 5 461

2 469 2 490 2 602 2 720 2 743

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

27 932 31 206 34 239 38 715 42 946

22 239 25 131 28 005 31 757 35 519

1 058 1 141 849 1 133 746

23 297 26 272 28 854 32 890 36 264

1 977 2 271 2 512 2 922 3 390

14 15 22 21 18

21 334 24 016 26 364 29 989 32 892

3 077 3 409 3 884 4 424 5 133

3 521 3 781 3 992 4 303 4 921

5 046 5 579 6 040 6 744 7 403

4 541 4 966 5 352 5 950 6 474

5 535 5 593 5 668 5 740 5 802

2 647 2 754 2 851 2 948 3 051

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

48 344 54 553 58 508 63 973 72 997

38 941 42 821 44 892 49 669 56 515

639 1 040 1 058 628 1 283

39 580 43 860 45 950 50 296 57 798

3 727 4 393 4 648 5 177 5 974

23 -20 -30 -49 -83

35 875 39 448 41 272 45 070 51 741

6 599 8 334 9 694 10 770 12 659

5 870 6 772 7 542 8 132 8 596

8 195 9 158 9 720 10 527 11 842

7 172 8 000 8 615 9 304 10 517

5 899 5 957 6 019 6 077 6 164

3 060 3 082 3 051 3 138 3 306

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

79 417 85 223 91 611 99 786 108 309

61 714 66 483 72 355 78 675 83 928

1 152 1 136 1 137 1 477 1 712

62 866 67 619 73 492 80 152 85 640

6 593 7 231 7 803 8 776 9 430

-147 -210 -292 -351 -403

56 126 60 179 65 397 71 025 75 807

14 075 15 243 16 016 17 733 20 186

9 217 9 802 10 198 11 028 12 316

12 699 13 481 14 306 15 398 16 497

11 245 11 928 12 552 13 589 14 460

6 254 6 322 6 404 6 481 6 565

3 410 3 512 3 631 3 774 3 864

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

114 926 119 927 129 957 137 865 146 620

88 090 90 607 99 375 105 214 111 617

2 122 2 382 2 308 2 587 2 804

90 212 92 989 101 682 107 800 114 421

10 017 10 504 11 395 12 178 13 105

-447 -430 -451 -467 -520

79 748 82 055 89 836 95 155 100 797

21 605 22 291 22 782 23 608 25 958

13 573 15 581 17 339 19 101 19 865

17 246 17 677 18 842 19 575 20 400

15 196 15 648 16 720 17 325 17 982

6 664 6 784 6 897 7 043 7 187

3 928 3 889 3 989 4 113 4 227

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

156 407 167 416 180 163 193 223 203 187

118 415 124 934 134 089 144 640 155 058

2 701 3 001 3 024 2 365 2 158

121 115 127 935 137 114 147 005 157 216

13 922 14 596 15 663 16 692 17 797

-592 -648 -716 -704 -771

106 601 112 691 120 735 129 609 138 648

27 715 30 754 34 165 37 408 36 606

22 091 23 972 25 263 26 206 27 933

21 295 22 320 23 530 24 743 25 560

18 716 19 548 20 508 21 400 22 136

7 345 7 501 7 657 7 809 7 949

4 380 4 487 4 631 4 746 4 850

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

218 668 225 395 228 621 234 544 250 286

166 192 170 532 174 831 180 250 191 442

2 579 2 766 1 291 1 532 2 340

168 771 173 298 176 122 181 782 193 782

18 748 19 564 19 908 20 912 21 929

-885 -781 -769 -733 -776

149 137 152 953 155 445 160 137 171 077

39 633 39 156 37 195 36 822 38 664

29 898 33 286 35 980 37 585 40 544

27 068 27 493 27 505 27 852 29 303

23 396 23 837 24 324 24 865 26 246

8 078 8 198 8 312 8 421 8 541

4 925 4 885 4 878 4 888 4 974

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

556

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NORTH DAKOTA 1958 ................................. 1959 .................................

1 156 1 069

624 680

321 185

945 865

31 34

-10 -11

904 820

179 170

73 78

1 908 1 729

1 766 1 594

606 618

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 185 1 077 1 516 1 401 1 392

706 735 796 847 913

269 140 472 321 235

974 875 1 268 1 168 1 148

41 43 47 56 59

-11 -11 -14 -14 -17

922 820 1 207 1 097 1 072

180 166 215 206 215

83 90 94 98 104

1 869 1 680 2 379 2 176 2 145

1 724 1 543 2 206 2 000 1 976

634 641 637 644 649

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 621 1 638 1 640 1 708 1 910

971 1 023 1 052 1 121 1 227

376 343 305 280 379

1 347 1 366 1 357 1 402 1 605

62 74 89 95 103

-17 -16 -16 -16 -52

1 268 1 276 1 252 1 291 1 450

238 239 241 252 277

114 123 147 164 183

2 497 2 531 2 620 2 750 3 076

2 315 2 330 2 395 2 510 2 759

649 647 626 621 621

... ... ... ... 274

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 999 2 314 2 769 3 914 3 878

1 367 1 500 1 681 1 901 2 155

300 428 661 1 521 1 153

1 667 1 928 2 342 3 422 3 308

115 130 148 190 225

-55 -58 -62 -65 -78

1 497 1 741 2 132 3 167 3 005

291 325 361 437 517

212 248 276 310 356

3 230 3 693 4 388 6 189 6 114

2 920 3 397 4 027 5 686 5 444

619 627 631 632 634

281 284 288 300 308

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

4 063 3 990 4 160 5 258 5 392

2 443 2 796 3 038 3 471 3 890

934 470 266 855 491

3 377 3 266 3 304 4 326 4 382

257 295 304 355 414

-84 -99 -106 -118 -136

3 037 2 872 2 894 3 852 3 831

606 654 760 853 948

420 464 506 553 613

6 363 6 183 6 409 8 082 8 269

5 695 5 531 5 764 7 246 7 390

638 645 649 651 652

314 326 331 345 354

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

5 174 6 819 7 383 7 734 8 410

4 232 4 733 5 006 5 256 5 555

-396 361 298 358 599

3 837 5 094 5 304 5 614 6 154

448 530 574 615 654

-153 -176 -179 -182 -188

3 235 4 388 4 551 4 817 5 312

1 216 1 601 1 902 1 882 1 988

723 830 930 1 035 1 110

7 907 10 340 11 036 11 430 12 358

6 932 9 098 9 929 10 361 11 252

654 660 669 677 680

356 360 361 366 368

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

8 710 8 796 9 057 8 343 9 338

5 682 5 704 5 927 6 144 6 373

688 682 780 -70 426

6 370 6 386 6 707 6 074 6 798

680 702 732 798 846

-188 -184 -186 -192 -198

5 502 5 500 5 789 5 083 5 754

2 029 2 011 1 924 1 912 2 116

1 179 1 285 1 344 1 348 1 468

12 866 13 137 13 699 12 731 14 447

11 731 12 032 12 489 11 485 13 075

677 670 661 655 646

365 359 365 369 373

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

10 166 10 351 11 277 11 351 12 255

6 714 7 091 7 550 8 033 8 481

751 594 1 021 602 994

7 465 7 685 8 570 8 635 9 475

908 978 1 044 1 131 1 207

-194 -203 -222 -242 -258

6 363 6 504 7 304 7 262 8 011

2 231 2 245 2 214 2 236 2 368

1 573 1 602 1 759 1 853 1 876

15 943 16 282 17 669 17 703 19 006

14 457 14 746 16 085 16 006 17 244

638 636 638 641 645

376 385 390 400 414

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

12 221 13 702 13 440 14 810 14 934

8 888 9 354 9 791 10 390 10 837

404 1 272 336 950 658

9 292 10 627 10 127 11 340 11 495

1 255 1 312 1 357 1 414 1 446

-283 -319 -344 -371 -402

7 754 8 995 8 425 9 555 9 647

2 490 2 631 2 861 3 065 2 994

1 977 2 075 2 154 2 190 2 293

18 865 21 068 20 686 22 872 23 180

17 008 19 084 18 560 20 620 20 863

648 650 650 648 644

421 429 433 440 443

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

16 097 16 465 16 764 18 194 18 553

11 360 12 059 12 584 13 337 14 364

962 542 369 1 157 444

12 322 12 601 12 953 14 493 14 808

1 503 1 559 1 632 1 732 1 841

-428 -461 -488 -515 -562

10 391 10 581 10 833 12 246 12 405

3 244 3 352 3 256 3 204 3 289

2 462 2 531 2 675 2 744 2 860

25 106 25 876 26 450 28 725 29 247

22 596 23 200 24 120 26 459 26 859

641 636 634 633 634

447 449 451 454 464

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

557

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

OHIO 1958 ................................. 1959 .................................

20 843 22 308

17 271 18 960

378 261

17 649 19 221

700 860

-119 -133

16 830 18 228

2 567 2 712

1 446 1 368

2 171 2 307

1 945 2 059

9 599 9 671

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

23 209 23 635 24 920 25 946 27 708

19 579 19 548 20 810 21 726 23 369

327 365 328 325 297

19 906 19 914 21 138 22 051 23 666

1 002 984 1 125 1 236 1 354

-131 -121 -126 -129 -134

18 772 18 809 19 888 20 686 22 178

2 925 3 066 3 302 3 477 3 742

1 512 1 760 1 731 1 782 1 789

2 384 2 398 2 510 2 598 2 749

2 114 2 139 2 229 2 304 2 474

9 734 9 854 9 929 9 986 10 080

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

30 005 32 757 34 362 37 916 41 407

25 317 27 971 29 268 32 238 35 347

350 487 322 407 409

25 667 28 458 29 590 32 645 35 757

1 408 1 864 1 957 2 133 2 360

-147 -166 -161 -184 -187

24 112 26 428 27 472 30 328 33 210

4 000 4 290 4 512 4 899 5 298

1 893 2 038 2 379 2 690 2 899

2 941 3 171 3 300 3 606 3 920

2 630 2 821 2 933 3 167 3 394

10 201 10 330 10 414 10 516 10 563

... ... ... ... 4 695

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

43 597 46 381 50 350 56 071 61 593

36 742 38 669 42 095 47 155 50 967

426 407 497 658 784

37 167 39 076 42 592 47 813 51 752

2 409 2 605 2 987 3 865 4 312

-178 -128 -125 -153 -129

34 580 36 343 39 479 43 795 47 311

5 623 6 026 6 435 7 113 8 081

3 394 4 012 4 436 5 163 6 200

4 086 4 321 4 685 5 208 5 721

3 589 3 856 4 116 4 581 5 020

10 669 10 735 10 747 10 767 10 766

4 683 4 627 4 710 4 902 4 964

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

65 710 72 585 80 707 89 417 99 084

52 665 58 965 66 238 73 903 81 302

802 777 664 613 745

53 468 59 742 66 902 74 515 82 047

4 338 4 944 5 557 6 407 7 332

-75 -85 -98 -116 -138

49 055 54 713 61 246 67 993 74 578

8 726 9 389 10 549 11 843 13 566

7 929 8 483 8 912 9 581 10 940

6 101 6 750 7 493 8 283 9 176

5 402 5 946 6 561 7 233 7 960

10 770 10 753 10 771 10 795 10 799

4 809 4 889 5 034 5 207 5 298

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

108 500 118 192 123 709 131 008 144 833

85 191 91 268 92 078 97 188 107 686

559 155 260 -77 857

85 750 91 423 92 338 97 111 108 543

7 615 8 706 8 892 9 600 10 920

-153 -463 -585 -706 -841

77 983 82 254 82 861 86 805 96 782

16 735 20 621 23 070 25 186 28 427

13 783 15 316 17 778 19 017 19 624

10 046 10 956 11 500 12 201 13 488

8 770 9 510 10 105 10 737 11 941

10 801 10 788 10 757 10 738 10 738

5 215 5 151 4 983 4 978 5 183

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

153 758 160 469 167 984 179 628 192 358

114 774 120 111 126 814 137 023 144 303

855 669 722 772 1 149

115 630 120 780 127 536 137 795 145 453

11 858 12 681 13 449 14 928 15 919

-930 -964 -1 001 -1 053 -1 092

102 842 107 135 113 086 121 815 128 441

29 995 31 178 31 871 33 627 38 088

20 921 22 157 23 026 24 186 25 828

14 323 14 955 15 612 16 634 17 763

12 641 13 220 13 688 14 648 15 559

10 735 10 730 10 760 10 799 10 829

5 316 5 430 5 582 5 720 5 843

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

203 630 209 066 221 277 229 065 242 146

151 641 155 532 165 885 173 029 183 511

1 166 663 1 121 912 1 127

152 807 156 195 167 006 173 941 184 638

16 872 17 692 18 756 19 815 21 316

-1 079 -1 082 -1 284 -1 346 -1 485

134 856 137 421 146 967 152 780 161 837

40 065 40 360 40 372 41 056 43 717

28 709 31 285 33 938 35 230 36 592

18 743 19 100 20 062 20 634 21 712

16 446 16 824 17 709 18 149 19 067

10 864 10 946 11 029 11 101 11 152

5 905 5 882 5 893 5 998 6 175

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

252 003 262 201 278 049 294 292 304 464

190 711 196 924 207 342 220 595 232 218

892 1 231 1 734 1 258 752

191 603 198 156 209 076 221 853 232 970

22 425 23 039 23 706 24 264 25 366

-1 408 -1 367 -1 451 -1 567 -1 597

167 769 173 749 183 918 196 022 206 007

45 671 48 328 52 712 56 190 55 044

38 563 40 124 41 419 42 079 43 413

22 495 23 322 24 656 26 017 26 859

19 675 20 217 21 308 22 405 23 164

11 203 11 243 11 277 11 312 11 335

6 341 6 437 6 541 6 660 6 747

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

320 538 325 623 333 120 342 424 356 774

243 185 246 588 253 787 262 618 273 312

936 689 262 688 728

244 121 247 277 254 049 263 305 274 040

25 426 26 189 26 363 27 026 28 248

-1 526 -1 405 -1 436 -1 441 -1 463

217 168 219 684 226 250 234 838 244 329

57 209 55 602 53 187 51 246 53 133

46 161 50 337 53 682 56 340 59 312

28 207 28 594 29 194 29 938 31 135

24 263 24 674 25 636 26 635 27 739

11 364 11 388 11 410 11 438 11 459

6 836 6 759 6 691 6 681 6 733

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

558

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

OKLAHOMA 1958 ................................. 1959 .................................

4 085 4 265

3 022 3 207

326 262

3 348 3 469

113 130

4 5

3 239 3 344

514 562

331 359

1 802 1 863

1 636 1 685

2 267 2 289

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4 488 4 638 4 836 4 997 5 355

3 303 3 432 3 659 3 825 4 116

331 297 236 209 204

3 634 3 728 3 895 4 035 4 320

150 159 178 208 207

7 8 11 12 14

3 491 3 578 3 728 3 839 4 127

619 644 668 688 737

378 416 441 471 491

1 921 1 949 1 993 2 049 2 189

1 736 1 754 1 791 1 844 1 989

2 336 2 380 2 427 2 439 2 446

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

5 736 6 142 6 695 7 341 8 111

4 347 4 734 5 188 5 777 6 305

273 263 273 216 272

4 620 4 996 5 461 5 993 6 576

216 286 336 384 402

17 21 25 31 63

4 422 4 731 5 150 5 640 6 237

788 827 845 912 1 018

526 584 700 789 855

2 351 2 503 2 690 2 933 3 200

2 136 2 261 2 425 2 626 2 818

2 440 2 454 2 489 2 503 2 535

... ... ... ... 1 107

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

8 919 9 729 10 675 12 172 13 600

6 802 7 391 8 155 9 095 10 387

355 332 413 729 446

7 157 7 723 8 568 9 825 10 832

431 484 558 720 846

65 64 73 83 107

6 791 7 303 8 084 9 188 10 094

1 147 1 295 1 351 1 578 1 842

981 1 130 1 240 1 406 1 663

3 475 3 716 4 017 4 518 4 977

3 098 3 356 3 574 4 058 4 400

2 566 2 618 2 657 2 694 2 732

1 120 1 132 1 183 1 221 1 256

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

15 237 16 879 18 853 21 405 24 956

11 530 12 960 14 807 17 011 19 487

399 333 178 167 628

11 928 13 293 14 985 17 178 20 115

928 1 054 1 198 1 417 1 687

142 177 153 149 164

11 142 12 416 13 940 15 911 18 592

2 043 2 217 2 525 2 923 3 413

2 052 2 245 2 388 2 571 2 952

5 497 5 978 6 578 7 348 8 403

4 936 5 339 5 841 6 456 7 364

2 772 2 823 2 866 2 913 2 970

1 269 1 305 1 359 1 428 1 483

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

28 906 33 952 37 938 38 747 41 833

22 648 26 334 28 875 28 987 31 099

257 324 483 208 368

22 905 26 657 29 358 29 196 31 467

1 964 2 443 2 741 2 738 2 968

171 196 201 239 288

21 113 24 411 26 817 26 697 28 787

4 383 5 667 6 753 7 257 8 072

3 410 3 874 4 368 4 794 4 974

9 506 10 966 11 833 11 776 12 732

8 279 9 414 10 086 10 372 11 328

3 041 3 096 3 206 3 290 3 286

1 551 1 630 1 678 1 642 1 672

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

43 614 43 291 43 171 45 023 48 111

32 036 31 358 31 321 32 621 34 557

375 638 558 760 792

32 411 31 996 31 880 33 381 35 349

3 108 3 118 3 135 3 457 3 696

330 378 425 473 497

29 632 29 256 29 169 30 397 32 151

8 668 8 388 8 126 8 414 9 342

5 314 5 647 5 875 6 212 6 618

13 332 13 309 13 448 14 216 15 272

11 874 12 100 12 062 12 753 13 632

3 271 3 253 3 210 3 167 3 150

1 656 1 595 1 607 1 617 1 632

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

50 971 52 565 55 958 57 937 60 283

36 644 38 020 40 450 42 261 43 590

847 610 815 865 821

37 490 38 630 41 266 43 125 44 412

3 966 4 241 4 469 4 721 4 979

560 590 610 645 701

34 084 34 978 37 406 39 049 40 133

9 765 9 845 9 876 9 774 10 474

7 121 7 742 8 676 9 115 9 676

16 187 16 554 17 376 17 814 18 374

14 280 14 749 15 553 15 947 16 410

3 149 3 175 3 221 3 252 3 281

1 664 1 678 1 690 1 726 1 759

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

62 395 65 944 69 720 74 118 77 565

45 122 47 523 50 339 53 674 56 264

275 373 680 572 872

45 397 47 896 51 018 54 246 57 136

5 194 5 379 5 605 5 882 6 050

739 767 840 874 925

40 942 43 284 46 253 49 238 52 011

11 142 11 886 12 369 13 431 13 537

10 311 10 773 11 098 11 448 12 017

18 861 19 743 20 671 21 766 22 567

16 826 17 523 18 213 19 161 19 887

3 308 3 340 3 373 3 405 3 437

1 810 1 861 1 908 1 957 1 975

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

84 310 90 161 90 164 93 118 98 020

60 883 65 716 65 328 68 015 72 205

715 625 798 774 875

61 598 66 341 66 126 68 790 73 080

6 355 6 798 7 032 7 305 7 807

1 008 1 010 1 035 1 064 1 125

56 251 60 553 60 129 62 548 66 399

15 290 15 478 14 914 14 764 15 039

12 770 14 130 15 121 15 806 16 583

24 407 26 009 25 848 26 556 27 819

21 517 23 000 23 242 24 080 25 236

3 454 3 467 3 488 3 506 3 524

2 015 2 025 2 007 1 994 2 027

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

559

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

OREGON 1958 ................................. 1959 .................................

3 596 3 896

2 826 3 120

175 178

3 001 3 297

145 180

-11 -14

2 846 3 103

467 507

283 286

2 093 2 232

1 834 1 957

1 718 1 746

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

4 021 4 170 4 441 4 678 5 041

3 238 3 321 3 554 3 792 4 123

172 159 170 161 148

3 410 3 480 3 724 3 953 4 270

207 211 232 266 271

-17 -19 -22 -27 -32

3 185 3 250 3 470 3 660 3 967

532 568 612 647 690

304 352 359 371 384

2 269 2 333 2 443 2 524 2 670

1 987 2 061 2 150 2 202 2 348

1 772 1 787 1 818 1 853 1 888

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

5 492 5 929 6 296 6 864 7 554

4 484 4 883 5 141 5 632 6 145

166 193 183 182 224

4 650 5 076 5 324 5 814 6 369

276 352 392 444 483

-38 -42 -46 -54 -91

4 337 4 681 4 886 5 315 5 795

741 800 877 948 1 097

414 447 533 600 662

2 835 3 011 3 181 3 425 3 664

2 512 2 650 2 802 2 986 3 138

1 937 1 969 1 979 2 004 2 062

... ... ... ... 920

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

8 242 9 027 10 110 11 442 13 010

6 542 7 143 8 062 9 112 10 141

214 203 257 369 475

6 756 7 345 8 320 9 481 10 615

506 569 680 881 1 004

-67 -56 -50 -56 -63

6 183 6 720 7 589 8 545 9 549

1 254 1 376 1 498 1 685 1 965

805 932 1 022 1 213 1 496

3 924 4 199 4 605 5 110 5 704

3 424 3 696 4 014 4 473 4 959

2 100 2 150 2 195 2 239 2 281

926 951 1 001 1 058 1 089

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

14 389 16 374 18 371 21 122 24 001

10 975 12 735 14 488 16 878 19 107

391 368 318 315 387

11 367 13 103 14 805 17 192 19 494

1 057 1 235 1 421 1 694 1 989

-31 -16 -74 -132 -205

10 278 11 852 13 311 15 366 17 300

2 210 2 454 2 826 3 315 3 964

1 901 2 067 2 235 2 441 2 737

6 190 6 903 7 531 8 416 9 309

5 470 6 046 6 504 7 244 7 984

2 325 2 372 2 439 2 510 2 578

1 105 1 156 1 223 1 297 1 352

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

26 710 28 882 29 672 31 490 34 350

20 445 21 280 21 153 22 284 24 480

474 403 290 296 397

20 919 21 683 21 443 22 580 24 877

2 125 2 367 2 400 2 559 2 892

-253 -263 -250 -234 -280

18 541 19 052 18 793 19 787 21 704

4 920 6 070 6 640 7 145 7 939

3 248 3 760 4 239 4 557 4 706

10 113 10 825 11 134 11 869 12 882

8 731 9 388 9 687 10 431 11 381

2 641 2 668 2 665 2 653 2 667

1 353 1 324 1 274 1 300 1 348

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

36 197 37 965 39 999 43 446 47 580

25 930 27 265 29 155 32 087 34 664

423 545 512 702 666

26 353 27 809 29 667 32 789 35 330

3 073 3 264 3 451 3 936 4 270

-317 -362 -422 -493 -546

22 963 24 184 25 795 28 359 30 514

8 308 8 769 9 014 9 566 11 007

4 925 5 013 5 191 5 522 6 060

13 543 14 148 14 809 15 849 17 050

11 923 12 386 12 966 14 044 14 833

2 673 2 684 2 701 2 741 2 791

1 379 1 414 1 464 1 532 1 586

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

51 515 54 256 57 547 61 349 65 735

37 807 39 622 42 441 45 294 48 530

694 706 716 860 759

38 501 40 328 43 158 46 154 49 289

4 615 4 936 5 291 5 661 6 127

-608 -664 -748 -838 -888

33 278 34 729 37 118 39 655 42 275

11 646 12 212 12 310 13 005 14 426

6 591 7 316 8 119 8 689 9 034

18 010 18 527 19 235 20 046 21 060

15 823 16 214 16 813 17 471 18 284

2 860 2 929 2 992 3 060 3 121

1 638 1 647 1 665 1 709 1 792

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

70 990 75 975 80 854 85 629 89 873

51 716 55 840 59 858 63 656 67 936

678 819 945 877 829

52 394 56 659 60 802 64 533 68 765

6 591 7 245 7 703 8 097 8 477

-1 061 -1 284 -1 467 -1 589 -1 737

44 742 48 129 51 632 54 848 58 551

16 228 17 149 18 176 19 314 18 929

10 020 10 697 11 046 11 467 12 393

22 293 23 398 24 469 25 542 26 480

19 393 20 232 20 986 21 951 22 657

3 184 3 247 3 304 3 352 3 394

1 858 1 933 1 999 2 037 2 065

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

96 402 99 020 101 902 103 988 109 935

73 256 74 810 77 130 79 158 84 395

849 763 783 953 1 160

74 105 75 572 77 913 80 111 85 555

9 090 9 158 9 321 9 642 10 272

-1 904 -1 891 -1 913 -1 904 -2 039

63 111 64 523 66 679 68 565 73 244

20 303 19 999 19 502 19 343 20 101

12 988 14 498 15 721 16 080 16 591

28 097 28 502 28 922 29 175 30 584

23 905 24 506 25 494 25 863 27 124

3 431 3 474 3 523 3 564 3 595

2 111 2 104 2 092 2 096 2 137

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

560

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

PENNSYLVANIA 1958 ................................. 1959 .................................

23 858 25 072

19 746 21 023

339 252

20 086 21 275

846 1 042

-45 -57

19 195 20 177

2 861 3 024

1 803 1 871

2 158 2 232

1 925 1 986

11 058 11 234

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

25 978 26 517 27 632 28 637 30 646

21 843 22 021 23 123 23 897 25 658

294 297 214 255 264

22 137 22 318 23 337 24 153 25 922

1 211 1 225 1 334 1 473 1 530

-75 -81 -97 -106 -129

20 851 21 012 21 905 22 573 24 264

3 205 3 322 3 560 3 818 4 124

1 922 2 183 2 167 2 245 2 259

2 293 2 328 2 433 2 507 2 660

2 036 2 080 2 161 2 222 2 388

11 329 11 392 11 355 11 424 11 519

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

32 850 35 384 37 885 41 142 44 729

27 511 30 213 32 020 34 675 37 860

273 260 355 310 367

27 785 30 473 32 375 34 985 38 227

1 593 2 147 2 316 2 420 2 810

-149 -193 -222 -258 -413

26 043 28 133 29 837 32 307 35 003

4 438 4 676 4 980 5 323 5 726

2 370 2 575 3 068 3 512 4 000

2 827 3 034 3 243 3 504 3 810

2 530 2 694 2 883 3 089 3 311

11 620 11 664 11 681 11 741 11 741

... ... ... ... 5 250

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

48 088 51 007 55 719 61 303 67 547

39 971 41 943 45 934 50 803 55 417

382 331 341 479 455

40 353 42 274 46 275 51 282 55 872

2 930 3 190 3 658 4 632 5 228

-379 -362 -372 -336 -341

37 044 38 722 42 246 46 314 50 302

6 121 6 501 6 935 7 675 8 695

4 923 5 783 6 537 7 315 8 550

4 071 4 292 4 680 5 158 5 693

3 566 3 802 4 060 4 504 4 947

11 812 11 884 11 905 11 885 11 864

5 226 5 159 5 247 5 402 5 419

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

73 581 80 825 88 847 98 035 108 608

58 711 64 453 71 112 79 020 87 084

417 510 462 497 631

59 128 64 963 71 574 79 518 87 715

5 407 6 010 6 607 7 526 8 596

-374 -362 -361 -372 -395

53 347 58 591 64 606 71 620 78 724

9 395 10 207 11 463 12 692 14 431

10 840 12 027 12 778 13 723 15 452

6 184 6 799 7 478 8 263 9 147

5 460 5 984 6 545 7 205 7 935

11 898 11 887 11 882 11 865 11 874

5 302 5 353 5 429 5 564 5 672

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

119 692 132 196 141 241 147 915 160 164

93 188 100 071 102 416 106 470 115 749

412 625 557 352 837

93 600 100 697 102 972 106 822 116 585

9 194 10 573 10 986 11 570 13 094

-431 -413 -246 -86 104

83 975 89 710 91 740 95 166 103 596

18 022 22 563 26 684 28 072 31 729

17 695 19 923 22 817 24 677 24 839

10 085 11 148 11 924 12 495 13 556

8 769 9 628 10 389 11 020 11 964

11 868 11 859 11 845 11 838 11 815

5 638 5 605 5 495 5 455 5 606

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

170 050 178 939 189 585 203 661 220 748

122 548 129 176 139 281 151 121 161 204

836 875 876 737 980

123 384 130 051 140 157 151 857 162 184

14 059 14 998 15 991 17 810 18 766

251 356 453 685 878

109 576 115 408 124 619 134 733 144 296

34 479 36 121 36 926 39 391 44 984

25 995 27 409 28 040 29 537 31 467

14 447 15 187 16 052 17 193 18 603

12 738 13 418 14 096 15 134 16 334

11 771 11 783 11 811 11 846 11 866

5 714 5 808 5 998 6 165 6 265

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

234 334 242 822 255 874 263 462 272 695

170 686 174 787 185 645 192 717 199 647

973 794 1 169 1 039 919

171 659 175 581 186 813 193 756 200 566

19 763 20 611 21 879 23 147 24 499

959 908 1 229 1 243 1 607

152 855 155 877 166 163 171 853 177 675

47 166 48 130 47 330 47 321 49 517

34 314 38 814 42 381 44 289 45 504

19 687 20 265 21 235 21 738 22 414

17 344 17 949 18 796 19 236 19 776

11 903 11 982 12 049 12 120 12 166

6 342 6 259 6 262 6 302 6 369

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

283 764 297 494 311 509 330 161 342 611

207 402 214 929 225 787 240 915 253 111

648 1 128 786 921 881

208 051 216 057 226 573 241 836 253 992

25 368 25 875 27 021 28 206 29 424

1 868 2 242 2 549 2 465 2 889

184 551 192 423 202 101 216 095 227 456

51 675 54 532 57 746 61 899 60 613

47 539 50 538 51 662 52 167 54 542

23 262 24 344 25 475 26 961 27 937

20 443 21 258 22 096 23 301 24 101

12 198 12 220 12 228 12 246 12 264

6 471 6 525 6 631 6 724 6 836

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

364 838 372 339 382 243 392 528 412 591

267 020 272 455 281 088 290 886 306 912

1 148 943 510 970 1 011

268 169 273 398 281 598 291 856 307 924

30 697 31 880 32 769 33 808 35 462

3 355 3 389 3 471 3 588 3 750

240 827 244 907 252 301 261 636 276 212

66 085 65 227 63 611 61 620 63 731

57 926 62 205 66 331 69 272 72 648

29 695 30 275 31 005 31 730 33 257

25 573 26 130 27 389 28 285 29 656

12 286 12 298 12 328 12 371 12 406

6 973 6 979 6 956 6 960 7 027

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

561

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

RHODE ISLAND 1958 ................................. 1959 .................................

1 793 1 893

1 443 1 543

8 6

1 450 1 550

75 86

44 51

1 418 1 514

225 232

149 146

2 090 2 209

1 865 1 978

858 857

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 934 2 023 2 169 2 265 2 416

1 581 1 634 1 751 1 807 1 933

7 7 7 7 8

1 589 1 641 1 758 1 814 1 940

96 98 108 117 122

54 57 63 67 73

1 547 1 601 1 713 1 764 1 892

237 256 287 323 340

150 166 169 179 184

2 262 2 358 2 490 2 586 2 729

2 012 2 090 2 215 2 299 2 459

855 858 871 876 885

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 600 2 840 3 082 3 367 3 591

2 078 2 296 2 468 2 700 2 901

8 9 7 8 8

2 086 2 305 2 474 2 708 2 909

133 162 174 200 230

82 96 105 116 65

2 035 2 239 2 405 2 625 2 744

367 383 411 434 500

198 218 265 308 347

2 912 3 159 3 390 3 652 3 853

2 617 2 818 3 038 3 235 3 392

893 899 909 922 932

... ... ... ... 440

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 902 4 137 4 510 4 853 5 142

3 117 3 278 3 614 3 873 3 973

9 8 8 6 9

3 126 3 286 3 621 3 880 3 982

245 267 306 381 410

66 61 56 71 88

2 948 3 081 3 371 3 569 3 660

531 560 593 659 749

423 497 546 625 734

4 104 4 292 4 619 4 962 5 393

3 653 3 824 4 066 4 372 4 744

951 964 976 978 954

440 436 447 452 439

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

5 543 6 090 6 670 7 317 8 141

4 113 4 631 5 096 5 661 6 305

9 9 8 9 7

4 121 4 641 5 104 5 670 6 312

415 472 520 597 684

82 89 103 102 110

3 788 4 257 4 687 5 176 5 738

783 840 943 1 031 1 168

972 993 1 040 1 111 1 235

5 857 6 408 6 983 7 644 8 510

5 257 5 699 6 224 6 714 7 401

946 950 955 957 957

424 442 459 475 484

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

9 181 10 263 11 036 11 890 13 183

6 882 7 431 7 803 8 425 9 384

8 9 27 37 32

6 890 7 440 7 831 8 462 9 416

746 851 902 988 1 135

124 155 209 265 334

6 268 6 744 7 137 7 739 8 615

1 484 1 885 2 105 2 238 2 603

1 428 1 634 1 794 1 913 1 965

9 677 10 769 11 566 12 432 13 705

8 476 9 441 10 196 10 998 12 183

949 953 954 956 962

486 486 477 482 507

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

14 161 15 174 16 310 17 980 19 559

10 162 10 991 11 910 13 160 13 860

42 43 41 42 32

10 204 11 034 11 951 13 202 13 892

1 220 1 336 1 435 1 603 1 669

394 419 488 563 625

9 378 10 118 11 004 12 162 12 848

2 696 2 886 3 071 3 427 4 098

2 087 2 171 2 236 2 391 2 612

14 615 15 526 16 482 18 045 19 546

12 968 13 697 14 393 15 865 17 184

969 977 990 996 1 001

522 541 550 564 565

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

20 126 20 262 21 129 21 913 22 450

14 136 13 810 14 666 15 207 15 657

31 32 30 30 26

14 167 13 842 14 696 15 237 15 683

1 716 1 722 1 835 1 924 2 011

665 693 712 754 828

13 117 12 814 13 573 14 067 14 500

4 123 3 940 3 902 3 880 4 007

2 887 3 509 3 654 3 966 3 943

20 006 20 049 20 867 21 586 22 097

17 639 17 741 18 541 19 141 19 553

1 006 1 011 1 013 1 015 1 016

555 528 534 538 538

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

23 620 24 609 25 983 27 501 28 568

16 395 16 919 17 758 18 856 19 810

25 24 16 16 16

16 420 16 943 17 774 18 872 19 826

2 080 2 113 2 218 2 348 2 459

860 929 990 1 074 1 177

15 200 15 759 16 547 17 598 18 544

4 253 4 623 4 940 5 315 5 232

4 167 4 227 4 497 4 587 4 792

23 225 24 106 25 341 26 670 27 459

20 544 21 213 22 080 23 111 23 757

1 017 1 021 1 025 1 031 1 040

541 544 550 558 570

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

30 697 32 478 33 644 34 921 36 936

21 255 22 360 23 232 24 568 25 865

16 15 17 18 20

21 271 22 376 23 249 24 586 25 885

2 619 2 748 2 867 3 025 3 160

1 344 1 341 1 306 1 288 1 366

19 996 20 969 21 688 22 849 24 091

5 713 5 951 6 057 5 982 6 275

4 988 5 559 5 899 6 090 6 570

29 214 30 680 31 475 32 452 34 180

25 059 26 402 27 741 28 846 30 420

1 051 1 059 1 069 1 076 1 081

584 587 589 597 604

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

562

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

SOUTH CAROLINA 1958 ................................. 1959 .................................

3 014 3 249

2 438 2 678

182 164

2 620 2 842

95 113

13 15

2 538 2 745

287 305

189 199

1 308 1 384

1 211 1 267

2 304 2 348

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

3 416 3 585 3 853 4 074 4 389

2 824 2 913 3 153 3 355 3 645

168 194 183 186 178

2 991 3 107 3 336 3 541 3 823

135 138 153 189 202

17 19 22 25 30

2 874 2 988 3 205 3 377 3 650

333 359 395 425 455

210 238 253 272 284

1 428 1 488 1 590 1 656 1 773

1 306 1 360 1 444 1 505 1 625

2 392 2 409 2 423 2 460 2 475

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

4 839 5 433 5 876 6 519 7 229

4 030 4 611 4 994 5 618 6 159

180 194 196 154 186

4 210 4 804 5 190 5 772 6 345

221 290 341 386 416

35 43 49 57 115

4 024 4 557 4 898 5 443 6 044

506 533 577 605 648

310 342 401 471 536

1 940 2 156 2 320 2 547 2 813

1 770 1 947 2 096 2 283 2 495

2 494 2 520 2 533 2 559 2 570

... ... ... ... 1 170

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

7 928 8 690 9 766 11 148 12 652

6 657 7 253 8 206 9 348 10 492

187 202 212 300 339

6 844 7 456 8 417 9 648 10 830

448 509 599 773 897

116 128 145 159 174

6 511 7 075 7 963 9 035 10 107

748 837 927 1 070 1 228

669 778 876 1 043 1 318

3 051 3 265 3 592 4 017 4 450

2 738 2 935 3 168 3 562 3 939

2 598 2 662 2 718 2 775 2 843

1 196 1 215 1 262 1 328 1 365

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

13 721 15 460 16 945 19 167 21 577

10 992 12 649 13 977 15 871 17 805

274 232 185 243 256

11 266 12 880 14 162 16 114 18 062

927 1 088 1 198 1 389 1 607

185 220 243 261 285

10 524 12 013 13 207 14 985 16 740

1 384 1 528 1 733 1 978 2 294

1 814 1 919 2 005 2 204 2 544

4 731 5 256 5 669 6 303 6 990

4 297 4 713 5 066 5 616 6 160

2 900 2 941 2 989 3 041 3 087

1 326 1 376 1 411 1 467 1 510

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

24 270 27 402 29 155 31 715 35 810

19 666 21 686 22 456 24 588 27 767

33 168 192 49 266

19 699 21 854 22 649 24 637 28 033

1 777 2 095 2 199 2 470 2 850

320 350 383 396 443

18 242 20 110 20 832 22 564 25 627

2 939 3 721 4 401 4 967 5 769

3 088 3 571 3 922 4 184 4 414

7 743 8 619 9 089 9 806 10 945

6 846 7 584 8 081 8 717 9 789

3 135 3 179 3 208 3 234 3 272

1 527 1 541 1 518 1 552 1 631

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

38 534 40 900 43 838 47 510 51 381

29 706 31 674 34 116 37 151 39 690

194 88 248 347 363

29 899 31 762 34 364 37 498 40 053

3 096 3 393 3 631 4 110 4 463

500 564 608 628 581

27 303 28 934 31 341 34 016 36 171

6 447 6 922 7 310 7 959 8 569

4 783 5 045 5 188 5 535 6 640

11 666 12 235 12 968 13 924 14 864

10 407 10 915 11 518 12 439 13 172

3 303 3 343 3 381 3 412 3 457

1 664 1 706 1 748 1 820 1 871

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

55 647 57 987 61 377 64 220 68 050

42 754 43 771 46 294 48 564 50 654

295 394 376 338 484

43 049 44 164 46 671 48 902 51 138

4 817 5 035 5 305 5 641 5 982

505 492 502 506 611

38 737 39 621 41 867 43 767 45 767

9 845 10 219 10 391 10 666 11 730

7 064 8 148 9 119 9 788 10 553

15 894 16 241 16 953 17 531 18 365

14 095 14 522 15 186 15 681 16 384

3 501 3 570 3 620 3 663 3 705

1 926 1 898 1 910 1 944 1 992

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

71 688 76 144 81 004 86 854 91 716

53 328 55 854 59 171 63 512 67 945

381 463 474 341 418

53 709 56 318 59 645 63 853 68 363

6 326 6 540 6 942 7 403 7 786

731 851 1 000 1 074 1 169

48 115 50 628 53 702 57 524 61 747

12 272 13 319 14 486 15 912 15 705

11 301 12 197 12 816 13 418 14 264

19 124 20 058 20 987 22 161 23 075

16 980 17 724 18 473 19 440 20 238

3 749 3 796 3 860 3 919 3 975

2 051 2 094 2 154 2 209 2 257

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

98 270 101 468 104 054 107 660 113 988

71 951 73 736 76 100 79 011 83 423

489 587 202 540 582

72 441 74 323 76 302 79 551 84 005

8 132 8 425 8 736 9 070 9 523

1 398 1 371 1 391 1 408 1 499

65 707 67 270 68 957 71 889 75 982

17 289 17 216 16 654 16 291 16 919

15 274 16 982 18 443 19 480 21 088

24 424 24 985 25 343 25 950 27 153

21 501 22 063 22 778 23 524 24 678

4 024 4 061 4 106 4 149 4 198

2 291 2 266 2 259 2 275 2 314

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

563

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

SOUTH DAKOTA 1958 ................................. 1959 .................................

1 156 1 048

648 707

308 140

956 847

26 34

0 0

930 814

153 153

73 82

1 762 1 571

1 620 1 454

656 667

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 290 1 297 1 482 1 429 1 397

740 811 865 875 918

320 246 364 293 211

1 060 1 057 1 229 1 168 1 129

35 39 45 51 50

0 0 1 1 1

1 026 1 019 1 184 1 118 1 080

179 184 198 205 208

86 94 100 106 109

1 889 1 872 2 102 2 018 1 993

1 752 1 723 1 941 1 853 1 853

683 693 705 708 701

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

1 574 1 701 1 726 1 853 2 010

950 1 016 1 070 1 162 1 272

330 388 340 359 353

1 279 1 404 1 411 1 521 1 625

51 64 77 83 90

2 2 3 3 6

1 230 1 342 1 336 1 440 1 541

226 230 236 236 275

119 129 154 177 194

2 275 2 491 2 573 2 770 3 009

2 124 2 311 2 383 2 542 2 739

692 683 671 669 668

... ... ... ... 303

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

2 177 2 381 2 757 3 502 3 515

1 371 1 498 1 662 1 879 2 107

369 400 560 1 022 681

1 740 1 897 2 221 2 901 2 789

96 107 121 159 184

6 6 7 7 8

1 650 1 797 2 107 2 749 2 613

305 329 368 426 520

222 255 282 327 382

3 265 3 546 4 070 5 158 5 169

3 005 3 304 3 795 4 776 4 717

667 671 677 679 680

305 306 309 323 326

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

3 877 3 837 4 368 5 023 5 545

2 303 2 622 2 871 3 267 3 603

701 273 439 609 644

3 004 2 895 3 310 3 877 4 247

201 225 238 275 323

10 12 13 15 16

2 814 2 682 3 085 3 617 3 941

607 654 755 832 956

456 501 528 574 648

5 689 5 586 6 339 7 287 8 048

5 271 5 108 5 875 6 708 7 387

681 687 689 689 689

326 336 342 355 360

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

5 577 6 507 6 887 7 142 8 159

3 839 4 070 4 196 4 492 4 956

128 437 368 249 680

3 966 4 507 4 564 4 741 5 636

344 391 411 442 493

18 14 12 5 -2

3 640 4 130 4 165 4 304 5 141

1 180 1 508 1 756 1 798 1 918

758 869 966 1 040 1 099

8 073 9 437 9 972 10 306 11 701

7 317 8 582 9 022 9 486 10 887

691 690 691 693 697

354 349 345 354 364

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

8 401 8 755 9 223 9 577 10 267

5 186 5 406 5 725 6 156 6 550

604 656 837 708 713

5 791 6 062 6 563 6 865 7 263

532 572 617 691 750

-5 -11 -19 -26 -36

5 254 5 478 5 926 6 148 6 476

1 978 2 060 2 040 2 116 2 360

1 169 1 217 1 257 1 313 1 431

12 029 12 578 13 251 13 717 14 737

11 172 11 691 12 251 12 669 13 548

698 696 696 698 697

367 368 383 390 398

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

11 273 11 803 12 687 13 207 14 172

7 115 7 647 8 253 8 827 9 401

1 005 879 1 045 935 1 173

8 120 8 526 9 298 9 761 10 574

821 891 958 1 025 1 113

-56 -69 -85 -99 -128

7 243 7 567 8 255 8 638 9 333

2 505 2 599 2 645 2 693 2 849

1 525 1 638 1 787 1 877 1 989

16 172 16 774 17 799 18 289 19 392

14 822 15 396 16 328 16 682 17 775

697 704 713 722 731

412 423 434 445 467

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

14 390 15 948 16 335 17 523 18 367

9 854 10 262 10 781 11 534 12 309

629 1 446 1 102 1 255 1 185

10 482 11 708 11 883 12 789 13 494

1 167 1 216 1 278 1 366 1 459

-152 -192 -191 -243 -258

9 163 10 300 10 413 11 180 11 777

3 106 3 396 3 609 3 967 4 116

2 121 2 252 2 313 2 376 2 474

19 501 21 488 21 949 23 488 24 475

17 777 19 661 19 849 21 251 22 019

738 742 744 746 750

475 482 488 497 509

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

19 438 20 429 20 429 22 231 23 602

13 099 13 832 14 461 15 109 16 092

1 116 863 127 1 205 1 436

14 215 14 696 14 588 16 314 17 527

1 535 1 593 1 664 1 730 1 819

-280 -235 -220 -213 -227

12 400 12 867 12 704 14 371 15 482

4 393 4 703 4 655 4 712 4 790

2 645 2 859 3 070 3 148 3 331

25 720 26 944 26 864 29 063 30 617

23 163 24 325 24 607 27 014 28 507

756 758 760 765 771

519 517 519 522 531

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

564

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

TENNESSEE 1958 ................................. 1959 .................................

5 272 5 657

4 206 4 589

313 305

4 520 4 893

175 207

27 23

4 372 4 709

531 562

370 386

1 519 1 606

1 393 1 471

3 471 3 522

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

5 808 6 144 6 525 6 912 7 436

4 771 4 966 5 336 5 687 6 188

243 290 250 273 234

5 014 5 256 5 586 5 959 6 422

242 247 273 323 339

23 22 22 22 21

4 794 5 031 5 335 5 658 6 104

610 654 713 751 807

404 459 477 502 525

1 625 1 696 1 777 1 859 1 972

1 478 1 547 1 595 1 687 1 808

3 575 3 622 3 673 3 718 3 771

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

8 109 8 935 9 577 10 675 11 487

6 756 7 605 8 150 9 077 9 905

250 253 215 222 252

7 006 7 858 8 366 9 299 10 157

363 502 564 634 659

21 21 35 33 -155

6 664 7 377 7 836 8 697 9 342

867 922 978 1 103 1 168

578 636 763 875 977

2 135 2 338 2 482 2 753 2 948

1 949 2 115 2 252 2 467 2 607

3 798 3 822 3 859 3 878 3 897

... ... ... ... 1 789

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

12 480 13 776 15 518 17 714 19 663

10 539 11 592 13 153 14 916 16 476

265 262 321 488 312

10 804 11 854 13 475 15 403 16 788

695 789 937 1 211 1 383

-155 -165 -192 -181 -191

9 954 10 900 12 346 14 011 15 214

1 330 1 481 1 634 1 886 2 230

1 197 1 396 1 538 1 816 2 220

3 170 3 435 3 796 4 280 4 680

2 827 3 087 3 407 3 842 4 202

3 937 4 010 4 088 4 138 4 202

1 785 1 817 1 924 2 025 2 055

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

21 405 24 104 26 795 30 593 34 236

17 344 19 654 22 168 25 576 28 396

244 366 294 312 333

17 588 20 021 22 463 25 888 28 730

1 430 1 639 1 846 2 151 2 480

-190 -184 -241 -308 -358

15 968 18 197 20 376 23 429 25 891

2 503 2 714 3 066 3 500 4 079

2 933 3 193 3 354 3 664 4 266

5 024 5 568 6 087 6 857 7 552

4 557 5 030 5 503 6 164 6 777

4 261 4 329 4 402 4 462 4 533

1 983 2 052 2 135 2 228 2 282

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

37 994 42 404 45 249 48 130 53 966

30 627 33 394 34 683 37 357 41 775

188 352 297 -38 402

30 815 33 746 34 979 37 318 42 178

2 675 3 142 3 338 3 650 4 188

-425 -460 -417 -430 -430

27 714 30 144 31 224 33 238 37 559

5 143 6 435 7 632 8 022 9 213

5 136 5 825 6 393 6 869 7 194

8 259 9 163 9 739 10 329 11 515

7 406 8 216 8 780 9 331 10 468

4 600 4 628 4 646 4 660 4 687

2 264 2 263 2 224 2 247 2 354

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

57 984 61 771 66 412 71 640 76 859

45 092 48 341 52 507 56 628 59 936

326 232 297 382 430

45 419 48 574 52 804 57 011 60 366

4 588 5 017 5 430 6 057 6 500

-447 -487 -520 -534 -560

40 384 43 069 46 855 50 420 53 306

9 952 10 493 10 907 11 925 13 327

7 648 8 209 8 650 9 294 10 225

12 297 13 035 13 885 14 856 15 833

11 140 11 819 12 531 13 464 14 298

4 715 4 739 4 783 4 822 4 854

2 411 2 490 2 593 2 680 2 753

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

81 700 85 914 93 807 99 074 105 846

63 314 66 124 72 514 77 377 83 132

423 490 653 577 626

63 737 66 613 73 167 77 954 83 758

6 916 7 353 7 953 8 566 9 339

-595 -592 -432 -562 -666

56 226 58 668 64 782 68 825 73 752

14 157 14 403 14 590 14 785 15 881

11 317 12 842 14 435 15 463 16 212

16 692 17 298 18 577 19 284 20 233

15 122 15 728 16 893 17 504 18 318

4 894 4 967 5 050 5 138 5 231

2 796 2 795 2 855 2 960 3 079

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

112 793 118 374 124 699 133 620 140 395

88 380 92 275 97 431 104 721 111 391

437 374 485 235 103

88 818 92 649 97 916 104 955 111 494

9 959 10 314 10 941 11 589 12 204

-757 -732 -935 -1 088 -1 285

78 102 81 602 86 039 92 278 98 006

17 027 18 221 19 343 21 026 21 138

17 665 18 551 19 317 20 316 21 252

21 174 21 854 22 676 23 989 24 898

19 132 19 628 20 290 21 452 22 293

5 327 5 417 5 499 5 570 5 639

3 164 3 214 3 288 3 373 3 435

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

148 833 154 416 159 102 166 075 175 885

116 833 120 939 126 473 132 884 141 384

383 298 -102 73 52

117 216 121 237 126 371 132 957 141 436

12 650 13 069 13 638 14 232 15 006

-1 456 -1 517 -1 511 -1 441 -1 507

103 110 106 651 111 222 117 285 124 923

22 659 22 614 20 939 20 220 20 555

23 065 25 150 26 942 28 570 30 407

26 097 26 864 27 468 28 412 29 806

23 409 24 150 25 116 26 200 27 523

5 703 5 748 5 792 5 845 5 901

3 496 3 459 3 452 3 474 3 543

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

565

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

TEXAS 1958 ................................. 1959 .................................

17 399 18 411

13 629 14 502

1 058 992

14 687 15 495

472 567

14 14

14 229 14 942

2 282 2 517

888 951

1 881 1 958

1 697 1 765

9 252 9 405

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

18 913 19 964 20 965 21 932 23 502

14 976 15 638 16 567 17 491 18 914

914 1 078 938 769 716

15 890 16 716 17 505 18 260 19 630

677 695 748 831 877

15 15 15 16 16

15 228 16 036 16 772 17 444 18 770

2 687 2 806 2 971 3 166 3 361

998 1 122 1 222 1 321 1 371

1 965 2 033 2 085 2 159 2 288

1 764 1 824 1 866 1 930 2 079

9 624 9 820 10 053 10 159 10 270

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

25 263 27 561 30 103 33 593 37 122

20 260 22 499 24 846 27 825 31 086

853 907 768 901 917

21 113 23 406 25 614 28 726 32 003

929 1 259 1 458 1 630 2 013

18 15 13 12 -86

20 201 22 162 24 169 27 108 29 905

3 564 3 769 3 966 4 124 4 575

1 498 1 630 1 969 2 360 2 642

2 434 2 627 2 840 3 105 3 361

2 206 2 358 2 543 2 747 2 941

10 378 10 492 10 599 10 819 11 045

... ... ... ... 5 005

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

40 820 44 282 49 166 56 072 63 498

33 530 36 357 40 363 45 501 52 244

1 159 1 008 1 248 2 136 1 143

34 689 37 365 41 611 47 636 53 387

2 150 2 400 2 784 3 610 4 251

-97 -102 -128 -155 -132

32 443 34 864 38 699 43 871 49 004

5 240 5 754 6 354 7 254 8 593

3 137 3 664 4 114 4 947 5 901

3 633 3 847 4 181 4 665 5 176

3 221 3 451 3 709 4 150 4 562

11 237 11 510 11 759 12 019 12 268

5 045 5 123 5 334 5 608 5 822

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

72 230 81 994 91 735 106 096 122 776

58 934 68 068 77 063 89 904 103 506

1 302 1 282 1 269 1 015 1 727

60 236 69 351 78 332 90 918 105 234

4 722 5 514 6 290 7 495 9 039

-130 -94 -308 -428 -434

55 384 63 743 71 734 82 995 95 760

9 469 10 205 11 442 13 562 16 133

7 377 8 047 8 560 9 539 10 883

5 747 6 355 6 954 7 860 8 841

5 131 5 638 6 118 6 925 7 696

12 568 12 903 13 192 13 498 13 887

5 938 6 207 6 521 6 898 7 222

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

141 659 167 287 183 782 194 872 215 633

118 911 138 253 149 693 156 409 172 540

598 1 954 1 344 1 728 1 609

119 509 140 207 151 037 158 137 174 149

10 479 13 099 14 494 15 029 16 884

-544 -356 -427 -410 -471

108 486 126 753 136 116 142 699 156 795

20 452 26 073 31 201 33 576 39 062

12 721 14 460 16 466 18 598 19 777

9 880 11 344 11 987 12 372 13 471

8 563 9 736 10 406 10 940 11 989

14 338 14 746 15 331 15 752 16 007

7 511 7 925 8 098 8 088 8 469

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

232 242 235 416 240 661 255 422 274 145

184 943 185 811 189 243 201 850 214 722

1 482 1 256 2 070 2 306 2 215

186 424 187 067 191 313 204 156 216 937

18 291 18 535 18 606 20 405 21 751

-499 -459 -457 -461 -471

167 635 168 072 172 250 183 290 194 715

43 472 44 177 44 052 46 527 51 286

21 135 23 167 24 360 25 605 28 144

14 272 14 215 14 479 15 325 16 312

12 708 12 784 12 975 13 812 14 626

16 273 16 561 16 622 16 667 16 807

8 721 8 560 8 773 8 934 9 064

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

297 146 311 926 335 941 354 213 374 791

232 867 245 094 263 896 280 534 296 382

3 006 2 731 3 314 3 984 3 387

235 873 247 824 267 209 284 518 299 769

23 633 25 471 27 111 28 782 30 815

-504 -585 -609 -633 -698

211 737 221 768 239 489 255 104 268 256

53 929 55 152 55 185 54 972 59 105

31 480 35 005 41 267 44 137 47 430

17 421 17 929 18 916 19 503 20 189

15 623 16 165 17 128 17 633 18 236

17 057 17 398 17 760 18 162 18 564

9 304 9 465 9 545 9 844 10 163

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

398 192 427 810 466 182 507 681 539 661

314 855 339 131 372 947 409 793 440 935

2 758 2 385 3 099 2 867 4 499

317 613 341 516 376 046 412 660 445 434

32 834 34 898 38 041 41 453 44 041

-790 -865 -1 006 -1 102 -1 151

283 990 305 753 337 000 370 104 400 241

63 236 67 676 72 351 78 933 78 918

50 966 54 380 56 831 58 644 60 502

21 003 22 120 23 616 25 186 26 250

18 928 19 802 20 991 22 282 23 251

18 959 19 340 19 740 20 158 20 558

10 507 10 808 11 236 11 646 11 895

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

593 139 619 642 626 784 651 009 690 376

486 842 509 298 514 532 532 422 567 357

2 765 3 058 3 212 4 120 4 054

489 607 512 355 517 744 536 542 571 411

47 231 49 836 50 518 52 306 55 064

-1 254 -1 442 -1 459 -1 465 -1 560

441 122 461 077 465 767 482 772 514 787

87 612 87 505 83 046 85 546 88 472

64 405 71 060 77 970 82 690 87 117

28 313 29 044 28 853 29 453 30 697

24 965 25 719 26 154 26 974 28 176

20 949 21 335 21 723 22 103 22 490

12 245 12 356 12 371 12 444 12 652

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

566

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

UTAH 1958 ................................. 1959 .................................

1 591 1 710

1 308 1 415

53 49

1 360 1 464

54 62

0 1

1 307 1 402

189 207

95 101

1 883 1 965

1 708 1 770

845 870

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

1 827 1 951 2 131 2 214 2 326

1 514 1 628 1 770 1 867 1 952

43 34 53 40 29

1 557 1 662 1 822 1 907 1 982

75 79 87 105 106

1 1 1 1 1

1 483 1 583 1 736 1 803 1 876

239 250 273 279 309

105 117 122 132 141

2 030 2 084 2 225 2 273 2 378

1 826 1 869 2 002 2 041 2 167

900 936 958 974 978

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

2 462 2 615 2 763 2 974 3 238

2 043 2 199 2 311 2 497 2 694

46 48 62 66 73

2 089 2 247 2 373 2 563 2 766

109 144 159 175 176

1 1 1 1 2

1 982 2 105 2 216 2 390 2 593

329 349 356 364 397

152 162 191 220 248

2 485 2 592 2 711 2 890 3 093

2 266 2 353 2 454 2 587 2 734

991 1 009 1 019 1 029 1 047

... ... ... ... 444

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

3 611 4 023 4 516 5 052 5 688

2 960 3 280 3 682 4 137 4 687

77 76 87 129 95

3 036 3 356 3 769 4 266 4 782

191 218 260 339 396

2 3 5 8 11

2 847 3 141 3 515 3 936 4 398

465 530 599 645 752

298 353 402 472 538

3 389 3 655 3 980 4 323 4 745

3 032 3 296 3 569 3 873 4 244

1 066 1 101 1 135 1 169 1 199

455 467 494 523 545

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

6 392 7 328 8 356 9 623 11 035

5 211 6 013 6 910 7 971 9 048

66 73 63 70 81

5 277 6 086 6 972 8 041 9 129

433 502 575 678 810

14 17 22 27 36

4 859 5 601 6 419 7 390 8 354

860 997 1 151 1 357 1 683

673 730 786 876 998

5 180 5 760 6 348 7 054 7 792

4 693 5 157 5 671 6 291 6 923

1 234 1 272 1 316 1 364 1 416

553 580 613 651 679

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

12 519 14 206 15 541 16 803 18 546

10 013 11 235 11 929 12 704 14 162

58 41 45 36 55

10 071 11 276 11 974 12 739 14 216

897 1 082 1 170 1 268 1 449

52 54 54 43 38

9 226 10 247 10 857 11 514 12 805

2 118 2 582 3 100 3 564 3 961

1 175 1 377 1 583 1 726 1 779

8 501 9 374 9 973 10 535 11 431

7 584 8 325 8 852 9 469 10 325

1 473 1 515 1 558 1 595 1 622

689 699 709 721 764

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

19 794 20 663 21 361 22 287 23 891

15 128 15 740 16 368 17 390 18 574

55 85 129 208 202

15 183 15 825 16 497 17 598 18 777

1 579 1 666 1 729 1 931 2 095

40 35 25 24 22

13 644 14 193 14 792 15 691 16 703

4 217 4 380 4 328 4 263 4 613

1 932 2 090 2 241 2 333 2 575

12 048 12 426 12 729 13 192 14 005

10 849 11 176 11 392 11 803 12 546

1 643 1 663 1 678 1 689 1 706

793 805 835 870 903

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

25 817 27 573 29 601 31 810 34 437

20 227 21 772 23 606 25 462 27 633

246 228 278 303 222

20 473 22 000 23 883 25 765 27 855

2 293 2 518 2 726 2 956 3 253

17 11 6 7 7

18 197 19 493 21 164 22 817 24 609

4 795 4 973 5 013 5 244 5 966

2 825 3 106 3 424 3 750 3 862

14 913 15 492 16 115 16 756 17 566

13 197 13 786 14 331 14 857 15 481

1 731 1 780 1 837 1 898 1 960

944 967 985 1 032 1 109

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

37 218 40 386 43 667 47 019 49 343

30 017 32 475 35 231 38 008 40 340

170 182 206 240 256

30 187 32 657 35 436 38 248 40 596

3 545 3 777 4 050 4 301 4 519

1 1 1 -5 -1

26 643 28 881 31 387 33 943 36 076

6 434 7 115 7 681 8 258 8 188

4 141 4 390 4 599 4 818 5 078

18 478 19 529 20 600 21 708 22 393

16 210 17 085 17 977 18 937 19 488

2 014 2 068 2 120 2 166 2 203

1 158 1 225 1 277 1 317 1 349

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

53 561 56 594 58 163 60 320 64 376

43 559 45 996 47 357 49 353 52 989

201 277 187 225 246

43 760 46 273 47 545 49 578 53 235

4 797 5 030 5 189 5 351 5 748

4 18 10 19 30

38 967 41 261 42 365 44 246 47 517

9 148 9 372 9 302 9 214 9 604

5 447 5 961 6 495 6 860 7 255

23 878 24 809 25 073 25 645 26 946

20 801 21 755 22 465 23 161 24 366

2 243 2 281 2 320 2 352 2 389

1 388 1 393 1 394 1 405 1 445

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

567

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

VERMONT 1958 ................................. 1959 .................................

653 703

493 542

54 50

547 592

19 22

-5 -5

523 564

77 83

52 55

1 718 1 816

1 553 1 634

380 387

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

744 774 813 843 903

571 584 624 653 693

56 55 46 43 49

626 639 670 696 742

27 28 31 36 38

-5 -5 -5 -5 -5

594 606 634 655 698

90 101 109 114 128

59 67 70 74 77

1 912 1 985 2 068 2 124 2 264

1 718 1 787 1 863 1 893 2 034

389 390 393 397 399

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

990 1 124 1 217 1 342 1 473

770 883 962 1 050 1 167

45 58 46 50 57

814 941 1 008 1 100 1 224

41 58 71 74 83

-7 -10 -10 -11 -27

765 873 927 1 015 1 113

144 164 183 201 215

81 87 107 126 144

2 451 2 722 2 878 3 121 3 370

2 218 2 426 2 562 2 750 2 921

404 413 423 430 437

... ... ... ... 203

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 614 1 745 1 924 2 118 2 293

1 256 1 337 1 467 1 626 1 736

61 60 67 71 58

1 318 1 397 1 534 1 697 1 794

89 98 111 141 155

-27 -24 -21 -20 -17

1 202 1 276 1 402 1 536 1 622

241 265 291 320 356

172 205 230 262 315

3 617 3 841 4 153 4 521 4 847

3 154 3 444 3 657 4 028 4 319

446 454 463 469 473

205 206 211 220 222

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

2 494 2 786 3 028 3 478 3 924

1 826 2 056 2 259 2 637 2 960

60 77 65 94 104

1 886 2 133 2 325 2 731 3 064

162 184 203 244 284

-11 -6 -2 -2 5

1 712 1 943 2 119 2 485 2 785

380 411 467 526 609

401 431 441 467 530

5 197 5 742 6 152 6 980 7 760

4 654 5 172 5 494 6 227 6 878

480 485 492 498 506

220 228 236 252 261

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

4 414 4 983 5 359 5 735 6 341

3 220 3 535 3 708 4 067 4 510

107 122 122 82 82

3 327 3 657 3 831 4 150 4 592

310 366 393 431 490

14 18 24 22 28

3 031 3 309 3 461 3 740 4 130

756 950 1 093 1 131 1 321

627 724 805 864 889

8 613 9 664 10 324 10 959 12 040

7 607 8 505 9 175 9 764 10 759

513 516 519 523 527

266 271 272 279 290

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

6 873 7 388 8 037 8 792 9 685

4 972 5 414 5 987 6 599 7 105

100 98 123 120 121

5 071 5 512 6 110 6 720 7 226

549 607 661 752 814

30 33 41 47 50

4 552 4 939 5 490 6 014 6 461

1 394 1 494 1 576 1 753 2 097

928 956 971 1 025 1 126

12 968 13 834 14 875 15 992 17 365

11 528 12 238 13 053 14 109 15 268

530 534 540 550 558

302 313 323 337 344

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

10 096 10 227 10 919 11 257 11 809

7 362 7 396 7 881 8 265 8 586

111 100 175 127 128

7 473 7 497 8 056 8 392 8 714

845 869 918 967 1 022

49 56 64 72 86

6 677 6 684 7 202 7 498 7 778

2 163 2 173 2 165 2 140 2 311

1 256 1 369 1 552 1 619 1 719

17 876 17 985 19 065 19 485 20 226

15 759 15 951 16 964 17 310 17 998

565 569 573 578 584

344 337 344 352 361

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

12 370 13 040 13 738 14 788 15 650

8 901 9 321 9 779 10 457 11 180

100 146 111 137 153

9 001 9 467 9 890 10 594 11 333

1 079 1 123 1 175 1 238 1 313

100 115 138 164 187

8 022 8 460 8 853 9 521 10 207

2 490 2 655 2 850 3 153 3 188

1 858 1 925 2 035 2 115 2 255

21 002 21 964 23 002 24 629 25 881

18 697 19 418 20 160 21 515 22 577

589 594 597 600 605

365 370 375 386 394

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

16 883 17 742 18 030 18 644 19 721

12 070 12 692 13 069 13 637 14 488

163 144 81 106 120

12 234 12 836 13 150 13 743 14 608

1 392 1 486 1 533 1 587 1 661

219 232 236 267 292

11 060 11 582 11 853 12 423 13 240

3 407 3 513 3 329 3 226 3 337

2 416 2 647 2 847 2 994 3 144

27 680 28 944 29 245 30 103 31 737

24 010 25 218 25 976 27 106 28 622

610 613 617 619 621

404 408 410 412 418

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

568

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

VIRGINIA 1958 ................................. 1959 .................................

6 872 7 327

5 383 5 840

258 192

5 641 6 033

184 234

361 386

5 818 6 185

723 781

331 361

1 756 1 854

1 579 1 662

3 914 3 951

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

7 598 8 089 8 741 9 353 10 338

5 992 6 317 6 829 7 409 8 118

212 222 219 133 219

6 203 6 538 7 047 7 542 8 337

268 284 317 369 383

432 463 512 565 615

6 367 6 717 7 242 7 738 8 569

859 944 1 046 1 130 1 258

373 428 452 485 512

1 906 1 975 2 091 2 187 2 373

1 693 1 760 1 853 1 921 2 126

3 986 4 095 4 180 4 276 4 357

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

11 158 12 078 13 230 14 683 16 396

8 710 9 592 10 380 11 639 13 209

205 153 199 176 210

8 915 9 745 10 579 11 816 13 419

402 544 630 696 800

704 779 933 1 008 956

9 217 9 981 10 882 12 128 13 575

1 381 1 486 1 614 1 701 1 842

560 610 734 855 978

2 529 2 710 2 935 3 221 3 554

2 254 2 395 2 589 2 819 3 046

4 411 4 456 4 508 4 558 4 614

... ... ... ... 2 148

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

17 658 19 443 21 655 24 393 27 300

14 220 15 651 17 464 19 683 21 863

210 191 251 351 312

14 430 15 842 17 715 20 034 22 175

871 1 000 1 167 1 484 1 701

851 877 933 1 005 1 134

14 411 15 719 17 480 19 555 21 608

2 068 2 312 2 553 2 902 3 391

1 179 1 413 1 621 1 937 2 301

3 789 4 091 4 485 4 971 5 484

3 265 3 561 3 849 4 300 4 710

4 660 4 753 4 828 4 907 4 978

2 158 2 196 2 263 2 384 2 451

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

30 141 33 619 37 455 42 386 47 656

23 555 26 394 29 520 33 282 37 211

262 233 165 286 151

23 816 26 627 29 685 33 568 37 362

1 821 2 071 2 302 2 621 3 050

1 394 1 617 1 857 2 191 2 588

23 389 26 173 29 240 33 137 36 900

3 804 4 227 4 763 5 432 6 376

2 947 3 219 3 452 3 816 4 380

5 961 6 550 7 195 8 021 8 950

5 245 5 730 6 259 6 936 7 730

5 056 5 133 5 206 5 284 5 325

2 425 2 501 2 585 2 697 2 769

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

54 457 61 447 66 758 72 551 81 186

41 357 45 860 49 328 53 913 60 988

64 265 119 42 321

41 421 46 125 49 447 53 955 61 309

3 388 4 022 4 381 4 947 5 702

3 164 3 394 3 464 3 450 3 561

41 198 45 497 48 530 52 459 59 168

8 052 9 937 11 657 12 984 14 498

5 208 6 013 6 572 7 108 7 520

10 144 11 287 12 154 13 038 14 385

8 770 9 696 10 521 11 411 12 677

5 368 5 444 5 493 5 565 5 644

2 802 2 820 2 832 2 905 3 054

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

87 821 94 892 102 769 111 768 120 816

66 828 72 660 79 524 86 420 92 214

223 270 366 520 634

67 051 72 930 79 890 86 939 92 848

6 436 7 211 7 910 8 962 9 725

3 680 3 835 4 048 4 431 4 664

64 295 69 555 76 029 82 408 87 787

15 489 16 820 17 893 19 911 22 688

8 037 8 517 8 847 9 449 10 342

15 366 16 328 17 324 18 514 19 740

13 459 14 311 15 066 16 190 17 185

5 715 5 812 5 932 6 037 6 120

3 198 3 335 3 501 3 582 3 681

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

127 129 131 913 139 901 146 273 153 654

96 150 98 849 104 961 109 985 115 007

670 604 658 524 629

96 819 99 453 105 619 110 509 115 636

10 329 10 804 11 403 11 991 12 705

5 419 5 950 6 420 6 862 6 853

91 909 94 600 100 636 105 381 109 783

23 997 24 995 25 388 26 218 28 374

11 223 12 318 13 876 14 674 15 497

20 449 20 934 21 811 22 470 23 305

17 872 18 384 19 200 19 726 20 389

6 217 6 301 6 414 6 510 6 593

3 726 3 666 3 684 3 758 3 842

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

160 470 169 001 179 654 191 711 204 586

120 085 126 723 135 507 145 903 157 576

553 570 428 436 360

120 637 127 292 135 935 146 339 157 936

13 240 13 902 14 876 15 969 17 243

7 072 6 519 7 060 6 758 8 158

114 469 119 910 128 119 137 128 148 851

29 315 31 117 33 037 35 425 35 604

16 686 17 974 18 498 19 158 20 132

24 056 25 034 26 307 27 780 29 226

21 007 21 761 22 746 23 662 24 664

6 671 6 751 6 829 6 901 7 000

3 931 4 012 4 111 4 185 4 282

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

220 845 233 770 240 158 250 365 269 862

171 986 182 604 187 670 196 113 212 855

521 449 252 343 424

172 507 183 052 187 922 196 456 213 279

18 568 19 642 20 297 21 290 23 035

6 275 6 037 7 327 7 443 7 846

160 214 169 448 174 952 182 609 198 090

39 100 40 332 39 648 41 059 43 425

21 531 23 991 25 558 26 696 28 346

31 087 32 534 33 018 33 993 36 175

26 215 27 574 28 710 29 796 31 751

7 104 7 186 7 274 7 365 7 460

4 407 4 439 4 440 4 482 4 594

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

569

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

WASHINGTON 1958 ................................. 1959 .................................

6 270 6 668

5 026 5 380

221 232

5 246 5 612

239 281

16 21

5 023 5 351

778 833

469 484

2 261 2 364

2 019 2 122

2 773 2 821

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

6 901 7 248 7 832 8 024 8 406

5 523 5 802 6 304 6 445 6 742

253 244 268 271 248

5 777 6 046 6 572 6 716 6 990

313 327 357 395 394

25 29 34 42 51

5 489 5 747 6 248 6 363 6 647

898 938 1 017 1 063 1 128

514 563 567 598 631

2 417 2 515 2 662 2 715 2 839

2 163 2 248 2 375 2 419 2 582

2 855 2 882 2 942 2 955 2 961

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

9 066 10 272 11 255 12 515 13 645

7 247 8 376 9 215 10 273 11 160

268 362 325 339 396

7 515 8 738 9 540 10 612 11 556

417 593 687 769 910

62 71 82 99 83

7 159 8 216 8 935 9 942 10 729

1 244 1 367 1 491 1 622 1 840

663 689 829 951 1 077

3 056 3 360 3 546 3 827 4 082

2 770 3 011 3 163 3 390 3 578

2 967 3 057 3 174 3 270 3 343

... ... ... ... 1 539

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

14 323 15 058 16 275 18 408 20 939

11 365 11 724 12 685 14 340 16 177

344 390 505 754 889

11 709 12 114 13 190 15 094 17 065

913 981 1 117 1 438 1 659

65 63 73 90 133

10 861 11 196 12 146 13 746 15 540

2 028 2 191 2 344 2 651 3 048

1 435 1 671 1 784 2 011 2 351

4 191 4 368 4 722 5 294 5 902

3 748 3 945 4 218 4 715 5 262

3 417 3 447 3 447 3 477 3 548

1 491 1 457 1 481 1 558 1 622

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

23 684 26 475 29 449 34 308 39 572

18 134 20 773 23 591 27 803 32 275

905 752 603 752 737

19 039 21 526 24 194 28 555 33 013

1 840 2 140 2 459 2 977 3 567

200 247 227 270 323

17 399 19 633 21 962 25 848 29 769

3 378 3 686 4 184 4 876 5 792

2 907 3 156 3 304 3 583 4 011

6 545 7 174 7 807 8 828 9 861

5 859 6 407 6 953 7 781 8 616

3 619 3 691 3 772 3 886 4 013

1 659 1 739 1 815 1 939 2 061

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

45 004 50 295 53 328 56 666 61 086

35 527 38 858 40 311 42 325 45 497

859 861 764 1 063 1 020

36 386 39 719 41 075 43 388 46 518

3 862 4 540 4 762 5 119 5 653

389 433 465 485 543

32 913 35 612 36 778 38 754 41 408

7 185 8 980 10 134 10 902 12 308

4 907 5 703 6 416 7 010 7 370

10 832 11 874 12 470 13 177 14 063

9 486 10 373 11 106 11 860 12 720

4 155 4 236 4 277 4 300 4 344

2 110 2 126 2 101 2 147 2 224

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

64 924 69 203 73 461 79 648 88 084

48 599 51 969 55 615 60 944 66 431

748 1 055 1 083 1 023 1 148

49 347 53 024 56 698 61 967 67 579

6 094 6 627 7 068 7 976 8 722

587 608 659 749 833

43 840 47 006 50 289 54 740 59 690

13 157 13 791 14 317 15 274 17 816

7 927 8 406 8 855 9 634 10 578

14 755 15 542 16 210 17 166 18 558

13 316 14 052 14 545 15 461 16 542

4 400 4 453 4 532 4 640 4 746

2 290 2 365 2 486 2 617 2 737

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

97 399 103 974 112 035 117 266 123 294

74 023 79 073 86 214 90 128 94 099

1 195 1 262 1 513 1 765 1 402

75 218 80 335 87 727 91 893 95 501

9 615 10 483 11 457 11 972 12 642

926 989 1 085 1 177 1 217

66 528 70 841 77 354 81 098 84 076

19 251 20 085 20 165 20 650 22 888

11 620 13 049 14 516 15 517 16 329

19 865 20 689 21 709 22 214 22 938

17 676 18 502 19 441 19 945 20 528

4 903 5 026 5 161 5 279 5 375

2 863 2 897 2 928 2 972 3 082

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

129 845 139 650 150 119 163 762 175 491

98 300 104 792 113 444 124 979 136 680

1 457 1 919 1 619 1 731 1 496

99 757 106 711 115 063 126 710 138 175

13 232 13 831 14 590 16 062 16 951

1 367 1 570 1 720 1 827 1 939

87 892 94 451 102 193 112 474 123 163

24 488 26 841 28 875 31 528 31 363

17 464 18 359 19 050 19 760 20 966

23 690 25 073 26 454 28 384 30 037

21 163 22 202 23 223 24 615 25 627

5 481 5 570 5 675 5 770 5 843

3 123 3 215 3 320 3 402 3 471

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

187 853 193 498 197 324 201 342 217 240

145 419 148 619 151 523 155 976 165 307

1 607 1 404 1 464 1 776 2 110

147 026 150 023 152 987 157 752 167 417

18 189 17 821 18 235 18 997 20 213

2 182 2 312 2 348 2 336 2 509

131 019 134 515 137 100 141 090 149 713

34 521 33 906 33 595 32 335 39 035

22 314 25 078 26 629 27 917 28 493

31 779 32 289 32 523 32 838 35 017

27 309 28 182 29 177 29 728 31 860

5 911 5 993 6 067 6 131 6 204

3 551 3 557 3 527 3 550 3 620

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

570

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

WEST VIRGINIA 1958 ................................. 1959 .................................

2 921 3 014

2 421 2 526

58 45

2 479 2 571

114 135

-21 -20

2 344 2 415

275 296

301 303

1 583 1 625

1 444 1 470

1 845 1 855

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

3 062 3 101 3 238 3 378 3 601

2 566 2 557 2 673 2 798 2 977

49 42 31 24 23

2 615 2 599 2 703 2 821 2 999

155 153 168 186 173

-20 -20 -19 -18 -17

2 440 2 426 2 517 2 618 2 809

318 331 354 381 407

304 344 367 379 385

1 653 1 696 1 790 1 881 2 004

1 484 1 524 1 609 1 684 1 816

1 853 1 828 1 809 1 796 1 797

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

3 850 4 080 4 329 4 590 4 868

3 180 3 450 3 634 3 854 4 138

24 14 28 22 30

3 205 3 463 3 662 3 876 4 169

184 244 268 298 324

-13 -10 -8 2 -79

3 008 3 209 3 386 3 579 3 766

431 437 451 467 503

411 434 492 544 599

2 155 2 298 2 447 2 603 2 788

1 957 2 072 2 210 2 325 2 443

1 786 1 775 1 769 1 763 1 746

... ... ... ... 652

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

5 428 5 965 6 601 7 240 8 051

4 548 4 945 5 465 5 929 6 562

25 25 30 44 28

4 573 4 970 5 495 5 973 6 590

350 395 455 567 647

-82 -100 -114 -117 -131

4 141 4 474 4 926 5 288 5 812

566 620 678 765 897

722 870 997 1 186 1 343

3 108 3 369 3 673 4 010 4 438

2 752 2 999 3 256 3 579 3 916

1 747 1 770 1 797 1 805 1 814

660 670 684 700 711

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

9 157 10 268 11 488 12 796 14 293

7 399 8 408 9 497 10 617 11 710

14 3 -2 12 17

7 412 8 412 9 495 10 629 11 727

709 817 915 1 056 1 211

-158 -195 -226 -263 -273

6 545 7 400 8 354 9 309 10 242

1 012 1 115 1 263 1 407 1 616

1 600 1 753 1 871 2 080 2 435

4 975 5 469 6 028 6 663 7 371

4 407 4 821 5 324 5 903 6 488

1 841 1 877 1 906 1 920 1 939

717 739 758 781 791

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

15 841 17 249 18 325 18 700 20 063

12 567 13 280 13 687 13 448 14 404

8 -23 -29 -16 22

12 575 13 257 13 659 13 432 14 426

1 297 1 467 1 552 1 569 1 735

-301 -280 -234 -191 -139

10 978 11 511 11 872 11 672 12 551

2 034 2 542 2 948 3 143 3 544

2 829 3 196 3 505 3 885 3 968

8 118 8 827 9 399 9 614 10 408

7 129 7 765 8 318 8 555 9 303

1 951 1 954 1 950 1 945 1 928

784 764 743 724 735

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

20 777 21 444 22 010 22 922 24 305

14 860 15 139 15 602 16 238 16 886

20 46 6 4 31

14 880 15 185 15 608 16 242 16 917

1 826 1 905 1 977 2 166 2 268

-118 -91 -26 8 87

12 936 13 189 13 605 14 084 14 736

3 698 3 856 3 883 4 066 4 535

4 143 4 400 4 523 4 772 5 034

10 896 11 392 11 849 12 524 13 454

9 729 10 221 10 624 11 283 12 034

1 907 1 882 1 858 1 830 1 807

735 735 742 755 762

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

25 980 27 152 29 105 30 077 31 301

18 133 18 794 19 919 20 721 21 758

44 34 62 64 60

18 177 18 828 19 981 20 785 21 819

2 420 2 580 2 756 2 971 3 113

70 41 103 106 149

15 827 16 289 17 328 17 919 18 854

4 759 4 793 4 819 4 758 4 971

5 394 6 071 6 959 7 400 7 477

14 493 15 095 16 112 16 548 17 194

12 965 13 554 14 543 14 936 15 464

1 793 1 799 1 806 1 818 1 820

783 784 794 806 827

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

32 328 33 622 35 005 36 722 37 557

22 444 23 016 23 825 24 847 25 707

23 11 3 7 -4

22 467 23 026 23 827 24 853 25 704

3 255 3 350 3 435 3 566 3 654

194 208 360 401 455

19 406 19 885 20 753 21 689 22 504

5 202 5 599 5 890 6 367 6 204

7 721 8 139 8 363 8 666 8 849

17 727 18 445 19 243 20 226 20 729

15 924 16 540 17 200 18 068 18 509

1 824 1 823 1 819 1 816 1 812

844 853 864 878 879

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

39 582 41 902 43 270 44 290 46 619

26 926 28 201 28 884 29 762 31 624

26 -10 -49 -41 -36

26 951 28 192 28 835 29 721 31 588

3 905 3 952 3 990 4 135 4 356

568 663 718 754 806

23 615 24 902 25 563 26 340 28 038

6 676 6 689 6 413 6 025 6 075

9 292 10 312 11 294 11 925 12 507

21 900 23 256 23 969 24 450 25 681

19 535 20 771 21 713 22 329 23 488

1 807 1 802 1 805 1 811 1 815

887 883 883 883 898

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

571

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

WISCONSIN 1958 ................................. 1959 .................................

7 940 8 620

6 126 6 733

451 472

6 578 7 205

233 282

52 59

6 397 6 982

1 033 1 113

510 524

2 066 2 215

1 843 1 969

3 843 3 891

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

8 911 9 199 9 735 10 074 10 869

7 012 7 087 7 559 7 884 8 506

421 487 484 430 470

7 432 7 575 8 043 8 314 8 976

341 348 374 433 449

63 67 74 81 91

7 155 7 294 7 743 7 962 8 618

1 199 1 260 1 334 1 417 1 527

557 646 658 695 724

2 249 2 295 2 404 2 450 2 610

1 982 2 040 2 127 2 159 2 327

3 962 4 009 4 049 4 112 4 165

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

11 765 12 877 13 645 14 904 16 398

9 146 10 084 10 709 11 574 12 676

537 661 557 640 630

9 683 10 745 11 266 12 214 13 307

479 668 759 815 934

104 123 137 158 249

9 307 10 200 10 644 11 557 12 622

1 678 1 815 1 938 2 109 2 418

779 862 1 063 1 237 1 359

2 780 3 013 3 171 3 430 3 746

2 469 2 652 2 769 2 992 3 212

4 232 4 274 4 303 4 345 4 378

... ... ... ... 1 944

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

17 609 18 906 20 679 23 149 25 472

13 399 14 252 15 717 17 717 19 421

631 686 721 907 793

14 030 14 938 16 437 18 624 20 215

974 1 070 1 248 1 615 1 841

253 264 287 313 339

13 308 14 132 15 477 17 322 18 713

2 702 2 904 3 123 3 462 3 948

1 599 1 870 2 080 2 365 2 811

3 979 4 239 4 597 5 123 5 613

3 460 3 737 4 007 4 476 4 878

4 426 4 460 4 498 4 518 4 538

1 954 1 957 2 014 2 116 2 159

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

27 810 30 606 34 137 38 190 42 922

20 632 23 199 25 939 29 355 32 724

855 752 1 133 1 114 1 391

21 488 23 951 27 072 30 468 34 115

1 928 2 188 2 444 2 847 3 307

345 390 432 487 526

19 905 22 154 25 061 28 108 31 334

4 378 4 634 5 027 5 609 6 457

3 527 3 818 4 049 4 472 5 131

6 086 6 676 7 400 8 245 9 199

5 345 5 829 6 437 7 113 7 958

4 570 4 585 4 613 4 632 4 666

2 148 2 211 2 293 2 382 2 465

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

47 623 51 994 54 851 57 004 62 462

34 859 37 195 38 243 40 307 44 316

1 429 1 157 1 011 457 982

36 288 38 352 39 254 40 764 45 298

3 507 4 011 4 170 4 363 4 908

550 604 623 677 794

33 330 34 945 35 707 37 079 41 185

8 044 9 943 11 216 11 405 12 553

6 249 7 107 7 928 8 520 8 724

10 107 11 001 11 599 12 073 13 190

8 786 9 506 10 118 10 632 11 645

4 712 4 726 4 729 4 721 4 736

2 449 2 424 2 382 2 385 2 478

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

65 709 69 089 73 006 77 433 83 936

46 704 49 203 52 599 57 064 60 344

1 012 1 289 1 405 840 1 712

47 716 50 491 54 004 57 904 62 056

5 212 5 536 5 840 6 557 6 980

883 966 1 071 1 240 1 272

43 387 45 920 49 235 52 587 56 348

13 053 13 608 13 994 14 715 16 660

9 269 9 560 9 777 10 132 10 927

13 840 14 528 15 280 16 057 17 283

12 219 12 822 13 406 14 102 15 140

4 748 4 756 4 778 4 822 4 857

2 509 2 551 2 621 2 702 2 759

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

88 635 92 124 98 917 103 379 109 927

64 219 67 086 72 633 76 993 81 854

1 342 963 1 204 914 1 141

65 561 68 049 73 837 77 907 82 995

7 464 7 912 8 530 9 073 9 780

1 356 1 381 1 515 1 575 1 695

59 453 61 518 66 822 70 409 74 910

17 470 17 875 18 353 18 663 20 265

11 711 12 731 13 742 14 306 14 752

18 072 18 557 19 683 20 331 21 413

15 801 16 260 17 253 17 768 18 666

4 905 4 964 5 025 5 085 5 134

2 834 2 860 2 913 2 969 3 060

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

115 180 121 718 129 099 138 667 144 702

85 733 89 456 95 081 101 690 108 102

764 1 363 1 024 1 421 1 333

86 497 90 819 96 106 103 111 109 435

10 258 10 682 11 316 11 930 12 631

1 793 1 947 2 167 2 314 2 502

78 032 82 085 86 957 93 495 99 306

21 513 23 420 25 394 28 024 27 509

15 636 16 214 16 748 17 148 17 887

22 215 23 273 24 514 26 175 27 135

19 310 20 091 21 034 22 382 23 236

5 185 5 230 5 266 5 298 5 333

3 140 3 191 3 245 3 303 3 374

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

153 548 158 888 163 273 167 586 176 636

114 023 117 907 122 041 126 674 133 990

877 923 893 1 211 1 504

114 900 118 830 122 934 127 886 135 494

13 138 13 522 13 953 14 454 15 240

2 736 2 868 2 919 2 988 3 098

104 498 108 176 111 900 116 420 123 352

29 870 29 303 28 332 27 624 28 986

19 179 21 409 23 041 23 542 24 297

28 570 29 392 30 011 30 613 32 063

24 498 25 317 26 421 27 180 28 504

5 374 5 406 5 440 5 474 5 509

3 431 3 419 3 411 3 435 3 480

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

572

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

WYOMING 1958 ................................. 1959 .................................

687 730

498 546

75 64

573 610

23 27

-1 -1

549 582

100 107

38 42

2 182 2 282

1 973 2 053

315 320

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

765 803 832 848 874

597 611 619 638 681

50 56 66 66 46

647 667 685 703 727

34 34 35 40 43

-1 -1 -1 -1 -1

611 632 649 662 684

109 119 128 130 135

45 53 54 56 55

2 312 2 384 2 498 2 524 2 577

2 068 2 146 2 238 2 235 2 348

331 337 333 336 339

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

904 931 999 1 066 1 173

688 705 748 822 902

52 57 70 62 69

741 762 818 884 971

41 48 53 59 66

-1 0 0 0 *

700 714 764 825 905

147 155 163 161 180

58 61 71 81 89

2 724 2 882 3 101 3 291 3 567

2 479 2 606 2 787 2 946 3 148

332 323 322 324 329

... ... ... ... 158

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

1 303 1 449 1 626 1 905 2 242

983 1 084 1 215 1 436 1 774

78 87 125 152 109

1 060 1 172 1 340 1 588 1 883

72 81 96 128 159

0 -1 -3 -7 -14

989 1 090 1 242 1 453 1 711

212 240 255 299 360

103 119 129 152 172

3 904 4 261 4 689 5 390 6 151

3 466 3 811 4 240 4 806 5 388

334 340 347 353 365

159 165 172 182 194

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

2 557 2 857 3 357 4 033 4 752

2 071 2 356 2 809 3 402 4 012

66 47 44 63 95

2 137 2 403 2 853 3 465 4 107

182 213 249 309 381

-16 -23 -30 -39 -56

1 939 2 167 2 574 3 118 3 670

411 458 529 630 752

208 232 254 286 331

6 722 7 224 8 157 9 361 10 517

5 986 6 383 7 210 8 254 9 137

380 395 412 431 452

203 214 231 250 267

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

5 556 6 335 6 794 6 528 6 854

4 677 5 304 5 400 5 129 5 385

84 51 29 37 14

4 761 5 354 5 429 5 166 5 399

442 542 566 523 561

-77 -88 -85 -62 -56

4 243 4 724 4 779 4 581 4 782

922 1 140 1 474 1 306 1 440

392 471 541 640 633

11 718 12 883 13 417 12 791 13 576

10 216 11 159 11 831 11 409 12 208

474 492 506 510 505

280 290 288 275 277

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

7 154 6 971 6 762 6 938 7 536

5 619 5 355 5 076 5 218 5 530

17 39 58 59 88

5 636 5 394 5 134 5 276 5 618

600 584 553 601 622

-55 -43 -28 -23 -16

4 982 4 767 4 553 4 652 4 979

1 501 1 464 1 458 1 504 1 714

672 740 751 782 842

14 317 14 064 14 177 14 918 16 440

12 871 12 754 12 801 13 463 14 729

500 496 477 465 458

278 265 260 265 267

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

8 167 8 579 9 020 9 450 9 845

5 916 6 096 6 412 6 771 7 077

148 209 218 247 119

6 064 6 305 6 630 7 018 7 197

671 717 748 785 832

-12 -2 -7 -10 -9

5 381 5 586 5 874 6 224 6 356

1 881 1 988 2 034 2 012 2 211

906 1 005 1 112 1 215 1 278

18 002 18 680 19 346 19 976 20 498

16 149 16 816 17 430 17 925 18 364

454 459 466 473 480

272 279 282 286 299

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

10 207 10 678 11 459 12 189 13 050

7 248 7 472 7 884 8 323 8 849

102 87 193 88 170

7 350 7 558 8 076 8 411 9 020

854 872 905 952 998

-7 -2 3 6 5

6 489 6 685 7 175 7 465 8 027

2 366 2 559 2 806 3 209 3 439

1 352 1 434 1 478 1 515 1 584

21 039 21 875 23 412 24 836 26 536

18 848 19 159 20 413 21 613 23 044

485 488 489 491 492

302 306 309 315 319

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

14 063 14 972 15 481 16 226 17 323

9 576 10 371 10 814 11 397 12 310

115 149 96 158 118

9 692 10 520 10 910 11 555 12 427

1 051 1 132 1 181 1 233 1 321

13 6 5 3 4

8 653 9 394 9 734 10 325 11 110

3 706 3 733 3 754 3 770 3 944

1 704 1 846 1 994 2 131 2 269

28 460 30 301 31 013 32 316 34 199

24 497 26 348 27 781 29 268 31 022

494 494 499 502 507

328 333 337 342 350

. . . = Not available. * = Less than $50,000, but the estimates for this item are included in the total.

CHAPTER 21: REGIONAL AND STATE DATA

573

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

NEW ENGLAND 1958 ................................. 1959 .................................

23 237 24 798

18 684 20 248

317 248

19 002 20 496

722 872

18 20

18 297 19 644

3 250 3 468

1 690 1 686

2 274 2 376

2 019 2 103

10 219 10 437

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

25 854 27 111 28 786 30 043 32 186

21 094 21 999 23 401 24 325 25 882

315 266 256 248 286

21 408 22 265 23 657 24 573 26 168

1 025 1 073 1 215 1 357 1 400

27 28 31 36 42

20 411 21 220 22 473 23 252 24 810

3 682 3 914 4 306 4 665 5 170

1 761 1 977 2 007 2 126 2 207

2 455 2 542 2 665 2 735 2 877

2 154 2 241 2 344 2 400 2 568

10 532 10 666 10 800 10 986 11 186

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

34 527 37 550 40 858 44 339 49 110

27 608 30 471 32 904 35 781 38 952

337 341 237 264 292

27 945 30 812 33 141 36 045 39 244

1 450 1 937 2 133 2 367 2 634

44 51 58 71 850

26 539 28 926 31 066 33 748 37 460

5 658 6 113 6 710 6 908 7 541

2 330 2 512 3 082 3 682 4 110

3 048 3 285 3 534 3 810 4 185

2 712 2 899 3 107 3 300 3 580

11 329 11 430 11 562 11 637 11 735

... ... ... ... 5 516

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

52 799 56 146 60 795 66 585 72 433

41 507 43 683 47 663 52 617 56 312

304 281 285 395 427

41 811 43 964 47 948 53 013 56 739

2 769 3 008 3 449 4 355 4 823

856 884 941 997 1 084

39 898 41 840 45 440 49 655 52 999

8 000 8 432 8 949 9 734 10 905

4 902 5 874 6 406 7 195 8 530

4 445 4 680 5 029 5 481 5 958

3 868 4 130 4 372 4 795 5 204

11 878 11 996 12 088 12 148 12 157

5 518 5 454 5 573 5 783 5 843

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

77 693 84 949 93 075 103 505 115 950

58 564 64 843 71 649 80 717 90 631

310 426 382 393 376

58 874 65 269 72 030 81 110 91 006

4 913 5 515 6 127 7 097 8 287

1 171 1 300 1 453 1 636 1 868

55 131 61 053 67 356 75 649 84 587

11 426 12 228 13 611 15 052 17 099

11 135 11 667 12 109 12 804 14 264

6 381 6 959 7 593 8 413 9 392

5 657 6 121 6 663 7 334 8 123

12 176 12 207 12 257 12 303 12 345

5 685 5 811 6 007 6 280 6 515

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

131 495 147 313 160 475 173 474 194 956

100 572 110 056 117 752 128 988 145 754

365 468 511 477 564

100 936 110 524 118 263 129 465 146 318

9 186 10 801 11 790 13 042 15 170

2 184 2 360 2 538 2 671 2 851

93 935 102 084 109 011 119 094 134 000

21 156 26 458 30 943 32 462 37 985

16 404 18 771 20 521 21 918 22 971

10 629 11 846 12 871 13 829 15 422

9 164 10 151 11 095 12 050 13 505

12 372 12 436 12 468 12 544 12 642

6 641 6 692 6 694 6 828 7 198

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

210 807 227 430 247 610 272 305 291 087

159 769 173 818 191 880 212 023 221 728

554 572 637 653 601

160 324 174 390 192 517 212 677 222 329

16 763 18 460 20 144 22 610 23 600

3 009 3 186 3 353 3 553 3 478

146 570 159 116 175 726 193 620 202 207

40 070 42 941 45 790 50 631 57 540

24 166 25 374 26 095 28 054 31 340

16 546 17 722 19 119 20 811 22 083

14 396 15 338 16 431 18 091 19 157

12 741 12 833 12 951 13 085 13 182

7 447 7 687 7 828 8 082 8 072

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

300 474 304 280 320 794 330 058 344 112

226 118 225 468 238 304 247 633 258 270

683 629 790 733 681

226 801 226 097 239 094 248 366 258 951

24 139 24 576 25 752 26 959 28 549

3 468 3 464 4 699 4 136 3 937

206 130 204 986 218 041 225 544 234 339

59 311 58 851 58 892 59 163 62 048

35 033 40 443 43 861 45 351 47 724

22 712 22 969 24 172 24 752 25 687

19 749 20 068 21 092 21 510 22 279

13 230 13 248 13 271 13 334 13 396

7 918 7 585 7 624 7 748 7 843

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

361 504 382 164 404 990 435 052 458 387

270 708 285 093 304 268 327 646 351 831

604 694 598 622 674

271 313 285 787 304 867 328 268 352 505

30 077 31 483 33 623 35 767 38 053

4 736 5 568 5 185 6 648 6 557

245 972 259 872 276 428 299 149 321 009

64 974 70 219 74 302 80 797 80 582

50 558 52 073 54 260 55 106 56 796

26 832 28 194 29 687 31 677 33 126

23 136 24 026 25 007 26 452 27 510

13 473 13 555 13 642 13 734 13 838

7 938 8 069 8 228 8 402 8 562

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

503 961 524 402 528 170 539 988 573 379

388 102 402 212 406 022 416 919 444 573

674 596 452 504 551

388 776 402 808 406 474 417 424 445 124

41 223 42 658 43 274 44 228 46 992

6 869 6 275 5 729 5 588 6 121

354 422 366 425 368 929 378 783 404 253

89 556 92 812 88 730 88 681 92 465

59 982 65 165 70 512 72 524 76 661

36 118 37 334 37 379 38 026 40 269

29 520 30 820 32 173 33 072 35 072

13 953 14 046 14 130 14 201 14 239

8 776 8 835 8 776 8 759 8 834

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

574

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

MIDEAST 1958 ................................. 1959 .................................

90 864 96 289

75 901 81 169

985 787

76 886 81 955

3 047 3 679

-582 -623

73 256 77 653

11 892 12 702

5 715 5 935

2 409 2 521

2 124 2 212

37 721 38 202

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

100 494 104 502 110 533 115 398 123 680

84 920 87 673 92 962 96 647 103 129

890 893 721 783 790

85 810 88 565 93 683 97 431 103 919

4 353 4 580 5 116 5 641 5 691

-749 -780 -792 -828 -887

80 708 83 205 87 775 90 962 97 341

13 666 14 303 15 607 16 844 18 478

6 119 6 994 7 150 7 593 7 861

2 604 2 670 2 795 2 879 3 050

2 279 2 338 2 440 2 512 2 701

38 597 39 133 39 552 40 083 40 555

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

132 265 142 545 153 635 168 522 181 847

109 860 120 014 128 437 140 404 152 341

884 903 961 912 1 093

110 743 120 916 129 398 141 316 153 435

5 938 7 889 8 607 9 391 11 063

-926 -1 004 -1 171 -1 292 -1 763

103 879 112 023 119 620 130 633 140 609

19 981 21 121 22 413 24 017 25 972

8 405 9 401 11 602 13 872 15 266

3 224 3 446 3 692 4 020 4 318

2 844 3 021 3 220 3 474 3 681

41 025 41 360 41 617 41 924 42 111

... ... ... ... 19 435

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

196 035 209 754 226 753 246 067 267 975

162 686 172 600 187 174 204 210 219 769

1 051 959 952 1 373 1 272

163 737 173 559 188 126 205 582 221 041

11 648 12 763 14 524 18 181 20 147

-1 676 -1 757 -1 928 -2 067 -2 304

150 413 159 039 171 674 185 334 198 590

27 506 28 964 30 644 33 415 37 559

18 116 21 751 24 435 27 318 31 826

4 611 4 893 5 274 5 744 6 274

3 985 4 285 4 553 4 988 5 427

42 517 42 870 42 992 42 837 42 709

19 469 19 304 19 526 19 973 19 960

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

289 442 313 595 341 719 375 225 413 568

231 378 251 815 275 240 304 666 335 719

1 180 1 263 1 081 1 290 1 499

232 557 253 078 276 321 305 957 337 218

20 828 22 884 24 856 28 197 32 242

-2 632 -2 988 -3 397 -3 929 -4 599

209 098 227 206 248 068 273 831 300 377

39 856 42 683 47 609 52 546 59 582

40 487 43 707 46 041 48 848 53 610

6 774 7 350 8 032 8 845 9 764

5 949 6 424 6 982 7 660 8 395

42 728 42 667 42 547 42 421 42 358

19 485 19 568 19 855 20 412 20 900

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

461 074 513 728 555 698 592 905 655 004

366 473 400 069 423 565 451 999 499 159

1 115 1 477 1 441 1 072 1 879

367 589 401 546 425 007 453 071 501 037

35 077 40 900 43 908 47 823 54 352

-5 472 -6 096 -6 361 -6 483 -6 832

327 039 354 550 374 738 398 764 439 853

72 378 89 636 103 732 110 628 128 241

61 657 69 543 77 228 83 513 86 910

10 907 12 137 13 112 13 936 15 345

9 373 10 351 11 214 12 083 13 339

42 272 42 329 42 382 42 544 42 687

20 962 21 061 20 945 21 140 21 891

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

700 965 745 867 797 403 868 226 935 223

537 095 576 142 624 822 685 292 723 215

1 993 2 176 2 275 2 183 2 551

539 089 578 318 627 096 687 475 725 765

59 534 64 727 69 438 78 001 82 280

-7 145 -7 570 -8 069 -8 776 -9 049

472 409 506 021 549 589 600 698 634 436

137 210 143 331 148 639 162 243 186 854

91 346 96 515 99 174 105 285 113 933

16 380 17 349 18 463 19 989 21 457

14 176 15 010 15 832 17 295 18 486

42 794 42 991 43 190 43 435 43 585

22 485 22 996 23 505 24 124 24 412

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

989 039 1 016 388 1 069 395 1 095 679 1 133 109

762 655 773 800 820 468 845 769 872 295

2 443 2 066 2 600 2 537 2 302

765 098 775 866 823 069 848 306 874 598

86 817 89 611 94 257 97 857 102 909

-9 850 -10 425 -12 216 -12 146 -11 974

668 431 675 831 716 596 738 302 759 714

195 844 199 744 195 997 192 182 202 048

124 764 140 813 156 802 165 194 171 348

22 601 23 063 24 090 24 502 25 197

19 569 20 110 21 021 21 308 21 864

43 762 44 071 44 392 44 717 44 970

24 476 23 904 23 796 23 915 24 084

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 189 144 1 252 041 1 319 270 1 404 640 1 467 261

911 867 955 150 1 009 108 1 081 158 1 145 465

1 783 2 727 1 877 2 370 2 430

913 650 957 877 1 010 985 1 083 528 1 147 895

106 722 109 947 114 752 121 047 127 305

-13 142 -13 630 -14 012 -15 313 -16 820

793 786 834 300 882 222 947 168 1 003 770

213 982 226 610 243 551 259 099 257 372

181 376 191 130 193 498 198 373 206 119

26 317 27 588 28 944 30 654 31 824

22 793 23 716 24 665 25 973 26 804

45 186 45 384 45 580 45 822 46 106

24 376 24 602 24 971 25 416 25 900

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 580 733 1 627 895 1 648 202 1 687 423 1 790 447

1 231 448 1 266 667 1 291 261 1 326 801 1 409 602

2 699 2 540 1 507 2 371 2 566

1 234 147 1 269 207 1 292 768 1 329 173 1 412 168

135 130 141 240 144 588 149 000 155 944

-15 670 -15 191 -15 964 -16 034 -17 210

1 083 347 1 112 776 1 132 216 1 164 138 1 239 014

279 930 278 002 262 297 258 030 269 477

217 456 237 117 253 689 265 254 281 956

34 077 34 907 35 166 35 816 37 874

28 576 29 207 30 357 31 248 33 017

46 388 46 635 46 869 47 114 47 274

26 540 26 653 26 616 26 732 27 031

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

575

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

GREAT LAKES 1958 ................................. 1959 .................................

79 768 85 126

64 987 70 816

2 400 1 903

67 388 72 719

2 492 3 045

-112 -126

64 784 69 547

9 925 10 636

5 059 4 943

2 242 2 369

2 008 2 115

35 578 35 928

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

88 445 90 551 96 107 100 629 108 246

73 432 73 553 78 602 82 530 89 273

1 976 2 402 2 309 2 311 1 999

75 408 75 954 80 911 84 842 91 273

3 656 3 617 4 043 4 561 4 762

-124 -112 -116 -114 -122

71 629 72 226 76 753 80 166 86 389

11 559 12 195 13 201 14 119 15 383

5 257 6 130 6 154 6 343 6 474

2 437 2 473 2 603 2 694 2 859

2 159 2 204 2 308 2 385 2 564

36 290 36 616 36 927 37 357 37 868

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

118 260 128 663 135 549 147 984 161 216

97 093 107 168 112 492 123 164 134 765

2 587 2 921 2 495 2 399 2 823

99 680 110 089 114 987 125 563 137 588

4 946 6 742 7 271 7 985 9 310

-134 -147 -136 -146 287

94 600 103 201 107 581 117 432 128 564

16 725 17 933 18 959 20 140 21 319

6 935 7 529 9 009 10 413 11 332

3 079 3 303 3 445 3 733 4 040

2 752 2 932 3 049 3 265 3 475

38 405 38 951 39 347 39 645 39 904

... ... ... ... 17 785

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

169 065 181 621 198 554 222 988 242 749

139 828 149 081 163 794 183 726 197 733

2 468 2 856 3 114 5 158 4 588

142 296 151 936 166 907 188 884 202 321

9 504 10 425 12 096 15 629 17 400

262 334 383 435 535

133 055 141 845 155 195 173 689 185 457

22 464 23 673 25 387 28 362 32 361

13 547 16 103 17 973 20 937 24 931

4 193 4 471 4 864 5 446 5 915

3 647 3 941 4 227 4 759 5 153

40 320 40 622 40 824 40 947 41 037

17 630 17 549 17 933 18 710 18 911

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

261 436 289 361 321 800 357 361 394 863

205 408 232 056 260 950 292 752 321 395

5 752 4 759 4 757 4 425 5 134

211 160 236 815 265 707 297 177 326 529

17 671 20 243 22 759 26 310 29 955

628 776 959 1 185 1 405

194 118 217 348 243 908 272 053 297 979

35 288 37 821 42 176 46 904 53 456

32 030 34 192 35 716 38 404 43 428

6 360 7 026 7 782 8 609 9 489

5 614 6 144 6 770 7 452 8 182

41 105 41 187 41 353 41 510 41 611

18 399 18 891 19 508 20 196 20 520

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

428 890 468 448 489 802 514 149 568 589

334 970 357 480 361 458 380 781 421 539

3 223 3 605 2 869 -168 4 319

338 193 361 085 364 327 380 614 425 858

30 983 35 487 36 419 38 830 44 244

1 681 1 440 1 338 1 319 1 423

308 891 327 038 329 246 343 102 383 037

65 489 80 802 92 540 98 364 111 096

54 510 60 608 68 016 72 682 74 456

10 287 11 248 11 805 12 429 13 736

8 933 9 729 10 344 10 929 12 136

41 694 41 648 41 492 41 366 41 393

20 024 19 862 19 315 19 335 20 120

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

603 916 634 420 665 925 711 001 762 846

450 343 475 878 504 152 546 216 576 310

4 886 4 409 4 956 3 304 6 917

455 229 480 287 509 108 549 520 583 227

48 176 51 707 54 365 60 533 64 389

1 462 1 531 1 600 1 724 1 763

408 515 430 111 456 343 490 711 520 600

117 214 122 456 125 466 132 499 148 027

78 187 81 853 84 116 87 791 94 218

14 581 15 304 16 012 17 042 18 218

12 835 13 487 14 013 14 974 15 925

41 418 41 455 41 590 41 721 41 873

20 605 21 050 21 651 22 219 22 717

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

804 166 828 639 884 713 918 620 975 700

605 942 624 201 669 058 700 714 745 488

5 825 3 411 5 717 5 058 5 695

611 767 627 612 674 776 705 771 751 183

68 063 71 309 75 713 80 221 86 536

1 966 2 014 2 245 2 335 2 549

545 671 558 316 601 308 627 886 667 196

155 614 157 550 159 796 161 006 174 775

102 881 112 773 123 609 129 728 133 729

19 105 19 499 20 621 21 228 22 384

16 725 17 154 18 213 18 651 19 607

42 091 42 496 42 903 43 275 43 590

23 093 23 003 23 126 23 512 24 215

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 021 606 1 073 297 1 132 660 1 207 487 1 255 454

781 585 812 452 856 122 916 993 969 950

3 253 6 713 6 766 5 562 4 158

784 838 819 165 862 889 922 556 974 108

91 002 93 998 98 451 103 148 108 420

2 683 2 994 3 340 3 466 3 884

696 520 728 161 767 777 822 873 869 572

184 396 197 605 212 193 229 877 224 886

140 689 147 531 152 690 154 737 160 996

23 259 24 261 25 457 26 996 27 918

20 302 21 032 21 951 23 179 23 964

43 924 44 239 44 494 44 728 44 969

24 876 25 274 25 674 26 131 26 548

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 333 971 1 359 189 1 386 311 1 434 528 1 486 594

1 024 233 1 040 895 1 068 464 1 115 212 1 151 444

4 264 3 569 2 348 4 538 7 241

1 028 498 1 044 465 1 070 813 1 119 750 1 158 685

111 902 114 167 116 058 119 215 124 763

4 245 4 493 4 556 4 746 5 076

920 840 934 791 959 310 1 005 281 1 038 997

242 503 237 352 228 113 221 907 230 827

170 627 187 045 198 887 207 339 216 769

29 496 29 909 30 377 31 292 32 295

25 332 25 819 26 775 27 931 28 864

45 226 45 445 45 637 45 843 46 032

26 986 26 700 26 454 26 419 26 621

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

576

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

PLAINS 1958 ................................. 1959 .................................

30 375 31 179

21 265 22 993

3 831 2 664

25 097 25 657

826 1 000

7 8

24 278 24 665

4 140 4 417

1 957 2 097

2 026 2 052

1 830 1 852

14 994 15 195

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

32 729 33 917 36 235 37 686 39 277

23 903 24 786 26 311 27 544 29 455

3 071 2 983 3 484 3 414 2 733

26 974 27 769 29 795 30 959 32 187

1 156 1 211 1 317 1 493 1 554

7 6 7 3 5

25 825 26 564 28 485 29 469 30 638

4 687 4 888 5 191 5 521 5 851

2 218 2 464 2 560 2 696 2 788

2 122 2 178 2 314 2 398 2 488

1 902 1 953 2 073 2 145 2 254

15 424 15 570 15 657 15 715 15 787

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

43 108 46 359 48 663 53 037 58 083

31 395 34 470 36 961 40 516 44 468

4 048 4 240 3 623 3 625 4 157

35 443 38 710 40 583 44 141 48 626

1 632 2 197 2 549 2 837 3 164

4 0 -5 -14 -414

33 815 36 513 38 030 41 291 45 048

6 272 6 583 6 739 7 241 8 096

3 021 3 263 3 894 4 505 4 940

2 725 2 918 3 053 3 305 3 585

2 463 2 617 2 730 2 934 3 134

15 819 15 888 15 942 16 047 16 202

... ... ... ... 7 506

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

62 780 67 510 74 631 87 442 92 655

47 467 50 815 55 480 61 770 68 191

4 378 4 554 6 091 11 224 7 590

51 845 55 369 61 571 72 994 75 782

3 342 3 697 4 228 5 405 6 194

-358 -355 -361 -399 -432

48 145 51 317 56 982 67 190 69 156

8 844 9 541 10 399 11 804 13 651

5 791 6 651 7 250 8 448 9 848

3 840 4 098 4 506 5 259 5 558

3 394 3 665 3 979 4 681 4 866

16 350 16 475 16 563 16 628 16 672

7 516 7 544 7 731 8 065 8 219

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

101 551 109 353 121 183 137 405 151 909

73 769 83 446 92 400 104 056 116 763

7 410 4 328 5 110 7 733 6 495

81 179 87 774 97 510 111 789 123 259

6 600 7 518 8 276 9 619 11 228

-423 -521 -659 -819 -989

74 155 79 735 88 574 101 350 111 041

15 275 16 453 18 694 20 900 23 892

12 120 13 165 13 914 15 155 16 975

6 065 6 485 7 150 8 069 8 885

5 380 5 716 6 291 7 080 7 731

16 743 16 864 16 950 17 028 17 097

8 181 8 438 8 657 8 958 9 247

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

164 453 186 200 198 366 208 000 232 330

126 038 135 956 140 880 149 764 165 627

1 769 5 340 3 935 1 509 6 435

127 807 141 296 144 815 151 273 172 062

12 066 13 919 14 702 15 683 17 725

-1 146 -1 338 -1 344 -1 434 -1 604

114 596 126 039 128 769 134 156 152 733

29 583 37 048 43 844 46 139 50 727

20 275 23 113 25 753 27 705 28 870

9 557 10 785 11 472 12 006 13 366

8 314 9 363 9 977 10 597 11 911

17 208 17 264 17 292 17 325 17 382

9 250 9 212 9 082 9 196 9 512

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

245 609 256 417 269 790 282 070 302 898

175 442 183 830 195 341 208 831 221 060

7 372 7 972 9 709 7 312 9 071

182 814 191 802 205 050 216 144 230 131

19 127 20 442 21 670 24 068 25 672

-1 714 -1 829 -1 940 -2 103 -2 186

161 973 169 531 181 440 189 972 202 274

53 060 54 841 55 378 57 506 63 155

30 576 32 046 32 971 34 591 37 469

14 114 14 743 15 480 16 088 17 215

12 556 13 149 13 717 14 260 15 193

17 402 17 393 17 428 17 533 17 595

9 664 9 754 10 009 10 221 10 427

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

320 841 333 016 355 443 364 761 389 452

233 098 242 685 260 395 272 319 288 145

10 157 7 919 10 305 6 124 10 081

243 255 250 604 270 700 278 443 298 225

27 311 28 836 30 671 32 318 34 685

-2 429 -2 481 -2 726 -2 813 -3 032

213 515 219 286 237 302 243 312 260 509

66 828 69 176 69 859 70 294 75 507

40 499 44 554 48 282 51 155 53 436

18 129 18 663 19 718 20 031 21 188

15 987 16 544 17 507 17 720 18 730

17 698 17 843 18 026 18 210 18 381

10 617 10 667 10 778 11 004 11 301

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

406 860 437 288 460 385 492 324 511 507

303 842 320 004 339 516 365 434 387 838

5 682 13 336 10 525 9 778 7 398

309 524 333 340 350 041 375 212 395 236

36 499 38 271 40 508 43 015 45 317

-3 171 -3 394 -3 805 -4 066 -4 402

269 854 291 675 305 728 328 132 345 517

80 406 86 163 93 219 100 976 99 915

56 600 59 450 61 438 63 216 66 075

21 934 23 378 24 422 25 928 26 737

19 298 20 468 21 257 22 520 23 251

18 550 18 705 18 851 18 988 19 131

11 611 11 836 12 054 12 316 12 510

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

545 882 562 733 576 655 598 971 634 984

412 558 425 963 439 795 455 599 482 041

7 075 5 678 3 742 8 222 12 214

419 634 431 641 443 537 463 821 494 255

47 513 49 299 50 775 52 586 55 225

-4 695 -4 827 -4 908 -4 996 -5 267

367 426 377 515 387 855 406 239 433 762

107 850 107 646 105 060 106 207 110 174

70 606 77 572 83 741 86 525 91 048

28 326 29 045 29 613 30 582 32 236

24 564 25 259 26 285 27 449 28 987

19 271 19 374 19 473 19 586 19 698

12 696 12 692 12 662 12 688 12 860

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

577

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

SOUTHEAST 1958 ................................. 1959 .................................

58 253 62 411

45 299 49 084

3 569 3 459

48 868 52 543

1 738 2 106

465 505

47 595 50 942

6 595 7 122

4 063 4 347

1 556 1 637

1 423 1 489

37 435 38 115

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

64 713 68 143 72 754 77 570 83 864

50 920 52 712 56 795 60 759 66 215

3 318 3 735 3 495 3 716 3 584

54 238 56 446 60 290 64 475 69 798

2 445 2 510 2 803 3 284 3 441

552 578 634 691 752

52 345 54 514 58 122 61 881 67 109

7 765 8 334 9 076 9 788 10 598

4 603 5 295 5 556 5 901 6 158

1 664 1 723 1 811 1 904 2 028

1 508 1 565 1 634 1 717 1 848

38 885 39 544 40 179 40 742 41 349

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

91 117 99 915 108 436 120 221 133 396

72 211 80 502 87 252 97 328 107 868

3 464 3 667 3 664 3 544 4 024

75 675 84 170 90 916 100 871 111 892

3 675 4 912 5 655 6 394 7 217

854 951 1 104 1 202 1 134

72 854 80 209 86 365 95 679 105 808

11 540 12 366 13 325 14 442 16 202

6 723 7 340 8 746 10 100 11 386

2 177 2 364 2 545 2 793 3 071

1 976 2 130 2 291 2 489 2 698

41 857 42 257 42 611 43 042 43 440

... ... ... ... 19 085

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

146 106 161 148 181 308 207 012 231 338

116 499 127 812 144 522 164 064 181 835

4 011 4 227 4 922 7 235 6 604

120 510 132 039 149 444 171 299 188 439

7 781 8 838 10 454 13 505 15 476

1 014 988 1 049 1 118 1 237

113 743 124 189 140 039 158 913 174 199

18 589 20 686 22 857 26 278 30 756

13 773 16 273 18 412 21 821 26 383

3 323 3 580 3 940 4 405 4 824

2 949 3 202 3 482 3 915 4 270

43 974 45 013 46 019 46 992 47 955

19 254 19 635 20 523 21 636 22 069

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

253 040 282 944 314 833 358 185 404 319

193 691 219 142 246 134 281 063 315 506

5 947 6 323 5 721 6 871 6 775

199 638 225 465 251 855 287 935 322 281

16 283 18 670 20 907 24 367 28 409

1 478 1 667 1 900 2 207 2 574

184 832 208 462 232 848 265 774 296 446

33 964 37 160 42 236 48 856 57 632

34 244 37 323 39 748 43 555 50 241

5 187 5 714 6 258 7 008 7 779

4 675 5 112 5 581 6 217 6 860

48 788 49 514 50 312 51 113 51 977

21 642 22 351 23 208 24 309 25 020

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

457 351 518 648 556 499 600 314 671 395

349 106 385 765 405 718 437 897 490 730

4 103 6 570 6 722 4 862 8 332

353 209 392 335 412 439 442 759 499 062

31 472 37 325 40 014 43 707 49 941

3 121 3 556 3 774 3 836 4 023

324 858 358 566 376 199 402 888 453 144

72 622 91 563 104 262 114 568 130 915

59 871 68 520 76 038 82 858 87 337

8 649 9 671 10 258 10 943 12 094

7 623 8 495 9 056 9 740 10 838

52 881 53 627 54 249 54 856 55 515

25 378 25 676 25 579 26 113 27 396

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

723 822 769 051 821 022 887 860 964 369

530 457 565 084 608 702 658 337 698 612

7 382 6 887 8 255 10 858 11 314

537 838 571 971 616 958 669 195 709 926

54 907 59 646 63 886 71 716 77 054

4 222 4 445 4 748 5 205 5 561

487 154 516 769 557 820 602 684 638 432

143 419 152 882 159 675 174 165 202 339

93 250 99 400 103 527 111 012 123 598

12 880 13 525 14 270 15 276 16 419

11 476 12 057 12 660 13 616 14 573

56 199 56 861 57 536 58 120 58 733

28 243 28 986 29 714 30 732 31 473

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

1 027 597 1 074 251 1 148 896 1 206 516 1 278 747

742 219 768 714 827 937 874 804 924 517

10 581 12 167 13 040 12 636 13 835

752 800 780 881 840 977 887 440 938 352

82 334 86 845 92 810 98 854 106 194

6 324 6 868 7 344 7 742 7 667

676 790 700 903 755 511 796 328 839 825

215 541 220 417 217 769 225 313 243 165

135 266 152 931 175 616 184 875 195 757

17 266 17 756 18 679 19 295 20 114

15 364 15 887 16 736 17 248 17 930

59 516 60 501 61 508 62 531 63 574

32 068 31 940 32 402 33 414 34 368

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 354 691 1 437 179 1 523 242 1 633 535 1 716 450

977 844 1 031 269 1 093 453 1 178 179 1 258 627

12 425 14 127 14 329 12 881 13 444

990 270 1 045 396 1 107 781 1 191 060 1 272 072

112 353 117 639 124 948 133 230 141 274

8 006 7 546 8 337 8 240 9 685

885 923 935 303 991 170 1 066 071 1 140 483

258 650 278 888 300 536 328 652 326 126

210 118 222 988 231 535 238 811 249 841

20 970 21 904 22 853 24 155 25 032

18 645 19 354 20 070 21 113 21 854

64 602 65 611 66 655 67 627 68 569

35 493 36 336 37 295 38 306 39 177

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 840 460 1 922 935 1 972 941 2 039 640 2 171 715

1 347 513 1 401 277 1 448 066 1 510 505 1 613 800

12 238 13 008 7 150 11 098 14 042

1 359 751 1 414 285 1 455 216 1 521 603 1 627 842

148 752 155 921 161 189 168 043 179 001

8 106 8 024 9 286 9 350 9 899

1 219 106 1 266 388 1 303 314 1 362 910 1 458 740

354 362 361 369 349 999 343 259 352 042

266 993 295 178 319 629 333 471 360 933

26 484 27 356 27 736 28 331 29 754

23 090 23 943 24 761 25 554 26 879

69 494 70 292 71 133 71 993 72 989

39 981 40 027 40 071 40 432 41 289

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

578

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

SOUTHWEST 1958 ................................. 1959 .................................

25 372 26 926

19 745 21 132

1 627 1 477

21 372 22 608

708 847

3 4

20 666 21 766

3 267 3 604

1 438 1 556

1 866 1 941

1 686 1 750

13 598 13 874

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

27 935 29 462 30 964 32 317 34 600

21 939 22 931 24 374 25 667 27 667

1 458 1 610 1 393 1 175 1 113

23 397 24 541 25 767 26 842 28 781

1 005 1 039 1 131 1 276 1 329

5 6 9 12 14

22 397 23 508 24 645 25 579 27 465

3 894 4 103 4 324 4 586 4 889

1 645 1 851 1 995 2 152 2 247

1 962 2 022 2 074 2 139 2 265

1 764 1 817 1 858 1 916 2 059

14 235 14 572 14 930 15 108 15 278

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

37 086 40 256 43 804 48 805 54 214

29 492 32 568 35 693 39 886 44 504

1 330 1 389 1 278 1 410 1 499

30 821 33 957 36 971 41 296 46 003

1 399 1 881 2 180 2 450 2 889

16 17 19 24 -71

29 438 32 093 34 809 38 869 43 044

5 197 5 489 5 752 6 123 6 920

2 451 2 674 3 242 3 812 4 250

2 406 2 586 2 784 3 051 3 320

2 182 2 327 2 499 2 710 2 912

15 414 15 567 15 734 15 998 16 328

... ... ... ... 7 219

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

59 884 65 468 72 894 83 245 94 055

48 244 52 674 58 803 66 442 75 785

1 824 1 670 2 002 3 284 2 119

50 069 54 344 60 805 69 726 77 904

3 105 3 502 4 087 5 309 6 216

-84 -88 -106 -119 -80

46 880 50 754 56 612 64 298 71 608

7 968 8 830 9 690 11 110 13 094

5 037 5 883 6 592 7 836 9 354

3 603 3 834 4 165 4 639 5 124

3 197 3 443 3 698 4 139 4 528

16 621 17 077 17 503 17 943 18 354

7 311 7 457 7 807 8 215 8 511

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

106 022 119 729 134 097 154 990 179 873

84 534 96 956 110 113 128 346 148 041

2 094 2 068 1 847 1 666 2 960

86 628 99 024 111 959 130 011 151 001

6 833 7 905 9 030 10 769 12 999

-47 24 -222 -359 -351

79 748 91 143 102 707 118 884 137 651

14 446 15 644 17 649 20 872 24 817

11 827 12 942 13 741 15 235 17 406

5 643 6 213 6 803 7 680 8 658

5 060 5 537 6 017 6 778 7 569

18 789 19 270 19 710 20 180 20 777

8 633 9 001 9 467 10 043 10 539

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

207 566 243 542 266 878 282 870 313 020

169 583 196 004 211 431 221 074 244 032

1 510 2 820 2 338 2 388 2 649

171 092 198 824 213 769 223 462 246 681

14 993 18 612 20 507 21 383 24 036

-456 -188 -250 -180 -180

155 643 180 023 193 012 201 899 222 465

31 513 40 197 47 492 51 515 59 312

20 410 23 321 26 373 29 455 31 243

9 688 11 077 11 710 12 086 13 165

8 443 9 553 10 171 10 706 11 737

21 426 21 985 22 791 23 405 23 776

10 944 11 485 11 717 11 747 12 310

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

337 065 344 430 354 107 375 506 402 842

261 602 265 084 271 650 289 186 306 386

2 557 2 559 3 504 4 149 4 078

264 159 267 643 275 153 293 336 310 464

26 108 26 812 27 210 29 947 31 925

-147 -32 59 156 238

237 904 240 799 248 002 263 545 278 777

65 691 67 158 67 579 71 110 78 949

33 470 36 473 38 526 40 851 45 116

13 948 14 010 14 309 15 105 16 060

12 430 12 609 12 814 13 591 14 378

24 166 24 585 24 748 24 860 25 083

12 686 12 551 12 860 13 137 13 331

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

433 473 454 182 487 472 514 272 546 291

329 983 346 721 372 640 396 136 419 859

4 921 4 471 5 286 6 178 5 256

334 904 351 193 377 926 402 314 425 116

34 487 37 087 39 441 41 994 45 155

336 293 332 380 401

300 752 314 399 338 816 360 700 380 362

82 704 84 341 84 232 84 645 92 027

50 017 55 442 64 424 68 927 73 902

17 058 17 524 18 401 18 966 19 670

15 253 15 752 16 609 17 091 17 702

25 411 25 917 26 491 27 116 27 772

13 646 13 850 13 978 14 427 14 943

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

580 621 622 613 674 420 732 215 776 129

446 364 479 691 523 385 572 873 614 351

4 263 3 922 5 083 4 924 7 023

450 627 483 613 528 468 577 797 621 375

47 850 51 087 55 200 59 764 63 353

381 383 372 378 467

403 158 432 909 473 640 518 411 558 488

98 193 105 301 112 833 122 915 122 930

79 269 84 403 87 948 90 889 94 711

20 430 21 455 22 765 24 214 25 177

18 351 19 136 20 174 21 371 22 236

28 420 29 020 29 625 30 240 30 827

15 498 15 990 16 588 17 179 17 543

2000 2001 2002 2003 2004

................................. 850 326 ................................. 892 795 ................................. 906 031 ................................. 942 624 ................................. 1 002 498

676 366 710 498 720 282 748 419 800 259

4 669 5 229 5 587 6 295 6 609

681 035 715 727 725 869 754 714 806 868

67 860 71 681 73 211 76 066 80 535

527 383 384 437 466

613 701 644 430 653 042 679 085 726 800

135 901 136 517 130 339 133 163 137 526

100 723 111 848 122 650 130 376 138 172

27 088 27 961 27 873 28 506 29 782

23 838 24 722 25 198 26 023 27 235

31 391 31 931 32 506 33 068 33 661

18 052 18 216 18 244 18 394 18 764

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

579

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

ROCKY MOUNTAIN 1958 ................................. 1959 .................................

8 406 8 885

6 292 6 793

704 578

6 995 7 372

252 291

-3 -3

6 741 7 078

1 134 1 214

531 594

2 031 2 103

1 829 1 885

4 139 4 226

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

9 390 9 938 10 720 11 050 11 554

7 247 7 744 8 224 8 605 9 109

580 525 711 623 509

7 827 8 269 8 935 9 228 9 617

354 382 412 478 491

-3 -3 -3 -2 -2

7 471 7 885 8 520 8 748 9 125

1 295 1 363 1 479 1 545 1 652

624 690 721 758 777

2 159 2 210 2 341 2 386 2 473

1 923 1 968 2 092 2 126 2 243

4 350 4 497 4 580 4 632 4 673

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

12 423 13 175 14 009 15 230 16 945

9 584 10 328 10 942 11 979 13 223

726 693 707 747 881

10 310 11 022 11 650 12 726 14 104

499 646 720 803 884

-2 -1 -1 -1 15

9 810 10 375 10 928 11 922 13 235

1 773 1 898 2 011 2 093 2 364

840 902 1 069 1 215 1 345

2 643 2 782 2 929 3 128 3 428

2 395 2 506 2 628 2 783 3 003

4 700 4 735 4 783 4 868 4 943

... ... ... ... 2 216

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

18 959 21 075 23 910 27 460 31 054

14 580 16 293 18 534 21 163 23 917

995 959 1 260 1 742 1 825

15 575 17 252 19 794 22 905 25 741

965 1 105 1 323 1 732 2 006

16 19 22 22 25

14 626 16 166 18 493 21 195 23 760

2 732 3 038 3 327 3 823 4 457

1 601 1 871 2 090 2 442 2 838

3 763 4 058 4 454 4 968 5 497

3 337 3 621 3 945 4 399 4 842

5 038 5 194 5 368 5 527 5 650

2 271 2 343 2 482 2 646 2 740

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

34 301 38 235 42 875 49 738 56 617

26 568 30 309 34 583 40 290 46 043

1 373 1 016 675 941 731

27 942 31 325 35 258 41 231 46 773

2 181 2 515 2 873 3 414 4 095

37 42 44 54 54

25 797 28 852 32 429 37 872 42 733

4 974 5 503 6 301 7 330 8 734

3 529 3 879 4 146 4 536 5 150

5 933 6 463 7 053 7 949 8 793

5 293 5 731 6 225 7 005 7 695

5 782 5 916 6 079 6 257 6 439

2 778 2 912 3 060 3 257 3 406

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

64 677 73 822 79 932 85 115 92 828

51 329 57 702 61 325 64 682 70 926

946 1 039 814 1 132 1 028

52 275 58 740 62 138 65 814 71 953

4 581 5 544 6 011 6 402 7 181

78 49 51 53 72

47 772 53 245 56 179 59 465 64 845

10 865 13 518 15 721 16 820 18 766

6 040 7 059 8 032 8 830 9 217

9 811 10 949 11 578 12 099 13 058

8 603 9 552 10 131 10 771 11 680

6 592 6 743 6 904 7 035 7 109

3 482 3 571 3 608 3 654 3 817

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

97 850 100 722 104 000 109 048 118 433

74 902 76 478 78 751 83 306 88 587

831 1 226 1 569 1 618 2 194

75 733 77 704 80 320 84 924 90 781

7 736 8 060 8 246 9 098 9 785

90 112 137 174 209

68 087 69 756 72 212 76 000 81 205

19 988 20 475 20 659 21 332 24 296

9 775 10 491 11 129 11 717 12 932

13 651 13 989 14 433 15 140 16 372

12 184 12 528 12 871 13 505 14 524

7 168 7 200 7 206 7 203 7 234

3 882 3 876 3 908 4 047 4 142

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

127 012 134 339 144 661 156 042 166 759

95 147 101 315 110 240 119 490 128 150

2 682 2 427 2 489 3 211 2 035

97 829 103 742 112 730 122 701 130 184

10 634 11 630 12 591 13 759 14 930

245 275 306 338 389

87 439 92 386 100 445 109 281 115 643

25 594 26 574 27 139 28 341 31 818

13 979 15 379 17 077 18 420 19 299

17 387 17 967 18 796 19 656 20 408

15 368 15 926 16 640 17 367 17 969

7 305 7 477 7 696 7 939 8 171

4 260 4 364 4 464 4 657 4 919

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

179 084 192 538 206 054 223 844 239 693

136 956 146 540 157 536 171 306 186 425

1 965 2 182 2 191 2 411 2 798

138 920 148 723 159 727 173 716 189 223

15 894 16 746 17 842 18 724 20 083

453 525 595 689 791

123 479 132 502 142 480 155 681 169 932

34 611 37 720 40 740 44 601 44 939

20 994 22 316 22 835 23 562 24 822

21 371 22 478 23 560 25 100 26 356

18 790 19 636 20 448 21 698 22 713

8 380 8 565 8 746 8 918 9 094

5 080 5 284 5 475 5 663 5 815

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

264 024 279 678 283 387 292 385 310 888

206 838 218 558 222 243 229 198 244 731

1 994 2 523 2 043 2 263 2 650

208 831 221 082 224 286 231 461 247 381

21 824 22 884 23 745 24 403 25 992

857 922 933 971 1 041

187 864 199 120 201 473 208 028 222 429

49 481 51 284 49 707 50 600 52 776

26 680 29 275 32 207 33 757 35 683

28 489 29 658 29 609 30 183 31 668

24 436 25 705 26 309 27 115 28 494

9 267 9 430 9 571 9 687 9 817

6 013 6 057 6 047 6 079 6 216

. . . = Not available.

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

580

Table 21-2. Personal Income and Employment by Region and State—Continued (Millions of dollars, except as noted.) Derivation of personal income

Year

Personal income, total

Earnings by place of work

Nonfarm

Farm

Total

Per capita (dollars)

Less: Equals: ContribuPlus: Plus: Net tions for Adjustment Dividends, earnings governfor interest, by place of ment social residence and rent residence insurance

Plus: Personal current transfer receipts

Personal income

Disposable personal income

Population (thousands)

Total employment (thousands)

FAR WEST 1958 ................................. 1959 .................................

50 973 55 671

40 455 44 813

1 819 1 917

42 274 46 730

1 584 1 984

-1 -1

40 689 44 745

7 209 7 777

3 076 3 148

2 490 2 631

2 229 2 349

20 469 21 159

... ...

1960 1961 1962 1963 1964

................................. ................................. ................................. ................................. .................................

58 816 62 206 67 177 71 416 77 190

47 258 49 873 54 264 58 004 62 426

1 953 1 852 1 961 1 897 2 004

49 211 51 725 56 225 59 900 64 430

2 356 2 494 2 976 3 458 3 580

-2 -2 -4 -6 -7

46 854 49 229 53 245 56 436 60 843

8 449 8 928 9 682 10 340 11 355

3 513 4 049 4 250 4 640 4 992

2 716 2 780 2 906 2 999 3 165

2 400 2 460 2 569 2 649 2 844

21 659 22 378 23 114 23 811 24 389

... ... ... ... ...

1965 1966 1967 1968 1969

................................. ................................. ................................. ................................. .................................

82 647 90 151 97 258 106 969 117 424

66 529 73 538 78 966 87 154 95 215

1 995 2 243 2 113 2 375 2 474

68 524 75 781 81 078 89 529 97 689

3 730 4 925 5 443 6 111 6 630

-8 -10 -11 -14 -201

64 786 70 846 75 624 83 404 90 858

12 387 13 309 14 264 15 068 16 873

5 474 5 996 7 370 8 496 9 693

3 318 3 562 3 773 4 090 4 409

2 982 3 180 3 357 3 600 3 844

24 908 25 311 25 779 26 151 26 635

... ... ... ... 12 295

1970 1971 1972 1973 1974

................................. ................................. ................................. ................................. .................................

126 801 135 230 148 290 164 806 185 296

100 771 106 438 117 467 130 648 145 021

2 433 2 464 3 108 4 247 5 388

103 204 108 902 120 575 134 895 150 410

6 899 7 521 8 736 11 068 12 611

-205 -222 -228 -231 -328

96 099 101 159 111 611 123 596 137 471

18 736 20 230 21 709 24 360 27 894

11 966 13 842 14 970 16 850 19 931

4 679 4 905 5 312 5 818 6 434

4 150 4 400 4 687 5 173 5 701

27 101 27 570 27 918 28 328 28 801

12 313 12 301 12 742 13 405 13 865

1975 1976 1977 1978 1979

................................. ................................. ................................. ................................. .................................

206 409 231 301 257 728 294 707 336 728

160 150 182 055 204 392 235 270 267 888

4 808 4 812 4 682 4 753 5 905

164 958 186 867 209 074 240 023 273 793

13 666 15 736 17 871 21 055 25 059

-524 -640 -454 -385 -360

150 768 170 491 190 750 218 583 248 374

30 591 33 204 37 643 44 352 53 298

25 051 27 606 29 335 31 772 35 056

7 034 7 728 8 435 9 420 10 534

6 308 6 872 7 456 8 274 9 196

29 346 29 929 30 553 31 285 31 965

14 104 14 625 15 287 16 235 17 141

1980 1981 1982 1983 1984

................................. ................................. ................................. ................................. .................................

382 747 428 897 457 237 493 057 547 683

297 087 326 903 344 431 371 570 414 770

7 361 5 851 5 928 5 962 6 608

304 449 332 754 350 359 377 532 421 378

27 313 32 478 34 820 38 277 43 906

-444 -226 -268 -290 -332

276 692 300 050 315 271 338 966 377 140

65 005 80 635 88 558 96 777 110 819

41 051 48 212 53 408 57 314 59 724

11 676 12 828 13 414 14 202 15 506

10 198 11 219 11 834 12 585 13 759

32 780 33 434 34 086 34 716 35 321

17 549 17 744 17 618 18 044 18 847

1985 1986 1987 1988 1989

................................. ................................. ................................. ................................. .................................

591 310 629 862 674 798 731 443 793 435

449 866 482 039 522 159 570 428 610 569

6 376 7 279 8 505 9 031 8 951

456 241 489 318 530 664 579 459 619 521

48 033 52 540 57 052 64 283 69 234

-379 -418 -496 -583 -677

407 829 436 360 473 116 514 592 549 609

118 965 124 532 129 655 139 604 159 037

64 516 68 970 72 026 77 247 84 789

16 408 17 109 17 927 18 978 20 070

14 491 15 112 15 676 16 721 17 510

36 037 36 815 37 641 38 542 39 534

19 498 20 070 20 926 21 944 22 626

1990 1991 1992 1993 1994

................................. ................................. ................................. ................................. .................................

859 336 887 101 938 010 962 172 999 736

660 218 679 618 718 181 734 935 758 458

9 468 8 488 9 322 10 767 10 047

669 686 688 106 727 503 745 702 768 505

74 869 78 666 82 509 84 623 88 214

-796 -795 -781 -771 -797

594 021 608 645 644 213 660 308 679 494

172 139 174 471 174 213 175 520 188 179

93 175 103 985 119 583 126 345 132 063

21 160 21 413 22 214 22 482 23 104

18 510 18 881 19 711 19 937 20 458

40 610 41 428 42 226 42 798 43 271

23 304 23 293 22 994 23 102 23 551

1995 1996 1997 1998 1999

................................. ................................. ................................. ................................. .................................

1 051 231 1 115 366 1 186 310 1 286 611 1 371 257

793 565 837 819 897 418 978 248 1 060 709

9 699 11 205 11 612 11 199 11 848

803 264 849 024 909 031 989 447 1 072 557

91 451 95 077 100 854 108 453 116 590

-840 -906 -980 -1 065 -1 192

710 973 753 041 807 197 879 930 954 775

202 498 217 285 232 181 252 769 253 792

137 761 145 040 146 931 153 913 162 690

24 031 25 169 26 331 28 093 29 486

21 186 21 950 22 751 24 115 24 949

43 745 44 314 45 054 45 798 46 506

24 111 24 760 25 324 26 214 26 901

2000 2001 2002 2003 2004

................................. ................................. ................................. ................................. .................................

1 502 717 1 547 366 1 570 823 1 620 549 1 732 021

1 173 138 1 199 117 1 221 755 1 268 454 1 358 985

10 869 9 667 10 251 12 132 15 302

1 184 007 1 208 784 1 232 006 1 280 587 1 374 287

127 447 132 156 135 946 141 653 152 339

-1 298 -1 172 -1 179 -1 260 -1 359

1 055 262 1 075 456 1 094 881 1 137 674 1 220 589

276 701 281 378 270 916 267 576 284 494

170 754 190 532 205 026 215 299 226 938

31 836 32 271 32 307 32 873 34 678

26 517 27 289 28 350 29 098 30 761

47 203 47 949 48 622 49 298 49 945

27 715 27 834 27 764 27 983 28 488

. . . = Not available.

CHAPTER 21: REGIONAL AND STATE DATA

NOTES AND DEFINITIONS TABLE 21-1 GROSS DOMESTIC PRODUCT BY STATE AND REGION SOURCE: U.S. DEPARTMENT OF COMMERCE, BUREAU ECONOMIC ANALYSIS (BEA)

OF

Gross state product (GSP) is the sum of the value added in all industries in the state. Aside from minor definitional differences, the sum of the GSPs of all states in concept is equal to U.S. gross domestic product (GDP). (In practice, there are measurement differences as well as definitional differences.) For explanation of GDP, see the notes and definitions to Tables 1-1 through 1-13. GSP is calculated only on an annual basis. Definitions and notes on the data The value of an industry’s GSP is equal to the market value of its gross output (which consists of sales or receipts and other operating income, taxes on production and imports, and inventory change) minus the value of its intermediate inputs (which consist of energy, raw materials, semifinished goods, and services that are purchased from domestic industries or from foreign sources). In concept, this is equal to the sum of labor and propertytype income earned in that industry in the production of GDP plus commodity taxes. Property-type income is the sum of corporate profits, proprietors’ income, rental income of persons, net interest, capital consumption allowances, business transfer payments, and the current surplus of government enterprises less subsidies. In practice, gross state product, like national GDP by industry, is measured using the incomes data rather than data on gross output and intermediate inputs, which are not available on a sufficiently detailed and timely basis. Therefore, the value of gross domestic product by state is defined as the sum of labor and property-type incomes originating in each of 63 industries in that state plus commodity taxes. Due to insufficient information, the nationwide statistical discrepancy—the difference between GDP measured as the sum of final demands and GDP measured as the sum of labor and property incomes and taxes on production and imports—is not allocated to individual industries or states. The quantity indexes of gross state product are aggregates of the real output of each industry in the state, net of intermediate inputs, based on chained constant-dollar estimates and expressed as index numbers, 2000 = 100. They are derived by applying national implicit deflators calculated for each industry group to the current-dollar GSP estimates for that industry group and then applying the chain-type index formula used in the national accounts to aggregate the industry groups to the state total.

581

To the extent that a state’s output is produced and sold in national markets at relatively uniform prices, or sold locally at national prices, GSP captures the differences across states that reflect the relative differences in the mix of goods and services produced by the states. However, real GSP does not capture geographic differences in the prices of goods and services produced and sold locally. Data availability and references Data can be found on the BEA Web site . GSP is now calculated on a NAICS basis back through 1997. Data for earlier years, beginning with 1977, were calculated on the SIC basis. Since the 1997 values are not identical in the old and new systems, Business Statistics presents the earlier years’ data, including 1997 values, so that users may link the earlier years data to current estimates. The early estimates for 2004 and revised estimates for 1997 through 2003 were presented in “Gross State Product: Accelerated Estimates for 2004 and Revised Estimates for 1997–2003,” Survey of Current Business, July 2005. In October, the revised 2004 estimates presented here were updated on the Internet. New and revised estimates will next be issued in June 2006. TABLE 21-2 PERSONAL INCOME AND EMPLOYMENT BY STATE AND REGION SOURCE: U.S. DEPARTMENT OF COMMERCE, BUREAU ECONOMIC ANALYSIS (BEA)

OF

This table presents annual time-series data on personal income for the United States as a whole, each individual state, the District of Columbia, and eight geographic regions for 1958 through 2004 and employment 1969–2004. In almost all respects, the data are consistent with the national personal income data as defined and presented in Chapters 1 and 4. BEA also publishes quarterly estimates of state personal income, which are not shown here. The sum of state personal incomes for the United States shown in this table is somewhat smaller than U.S. personal income (as shown in the NIPAs in Chapters 1 and 4), due to slightly different definitions. The national total of the state estimates consists only of the income earned by persons who live in the United States and of foreign residents who work in the United States. The measure of personal income in the NIPAs is broader. It includes the earnings of federal civilian and military personnel stationed abroad (see below for a change in the definition of “stationed abroad”) and of U.S. residents on foreign assignment for less than a year. It also includes the investment income received by federal retirement plans for federal workers stationed abroad. Earnings of foreign residents are included only if they live and work in the

582

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

United States for a year or more. There are also statistical differences reflecting differences in the timing of the availability of source data. In the October 2005 Survey of Current Business, BEA announced “New Treatment of State Estimates of Military Compensation” (in a box inserted in the article referenced below). This announcement says, “BEA’s state estimates of military compensation are based on troop data by base and national estimates of average pay from the Department of Defense (DOD). For 2001-2004, the DOD estimates of troops stationed at U.S. bases do not show a large decrease for troops sent to Afghanistan and Iraq. Those estimates reflect the DOD’s new method of reporting active duty military personnel for the Army and the Air Force. The DOD now reports active duty regular military personnel according to the troops’ home bases and reserve personnel according to the state of the reservists’ bases. However, for the Marines, DOD continues to use an approach that reduces domestic base personnel figures when troops are sent overseas. Since BEA’s state estimates of military earnings reflect the geographic distribution of military personnel as reported by the DOD, the surge in military earnings due to the activation of reservists and the special pay associated with the war is recorded in the states from which the forces were deployed. This practice is consistent with the pay being received by family members at home and with news reports of strong retail sales at affected military bases…Since the Persian Gulf War, the demographics of the armed forces have evolved, and BEA has changed its military residency definition accordingly. The current Army has a larger proportion of mature troops with families to support, in contrast to the typical young, single soldiers of the past.” Definitions A state’s personal income is the personal income (as defined below) of persons resident in that state, not persons working in that state. Its derivation from source data on earnings by place of work is shown in the succeeding columns of Table 21-2 and explained below. Earnings by place of work includes wage and salary disbursements, all supplements to wages and salaries (including employer contributions for government social insurance and all other benefits), and farm and nonfarm proprietors’ income paid to persons working in the state. Contributions for government social insurance, which is subtracted from total earnings, includes both the employer and the employee contributions. Personal income is net of all contributions for government social insurance, though not of other taxes on wages or other income. Adjustment for residence. BEA adjusts earnings by place of work to a place-of-residence basis, to account for interstate and international commuting. The difference between earnings by place of residence and earnings by

place of work is shown in the “Adjustment for residence” column. This adjustment is a net figure: income received by state (or area) residents from employment outside the state minus income paid to persons residing outside the state but working in the state. There is a negative adjustment for the United States as a whole, reflecting net payments to foreign residents working in the United States. The effect of interstate commuting can be seen in its most extreme form by comparing the District of Columbia, with its 2004 adjustment for residence of negative $35 billion (representing net payments to persons living outside D.C.) with Maryland, which received an adjustment for residence of positive $24 billion net from employment sources outside the state in 2004. Dividends, interest, and rent are as defined in U.S. personal income, including the capital consumption adjustment for rental income of persons. Total employment is the total number of jobs, full-time plus part-time; each job that any person holds is counted at full weight. The employment estimates are on a placeof-work basis. Both wage and salary employment and self-employment are included. The main source for the wage and salary employment estimates is the Bureau of Labor Statistics estimates from unemployment insurance data (the ES-202 data), which also provides benchmarks for the payroll employment measures (see Table 10-7 and its notes and definitions). Self-employment is estimated mainly from individual and partnership federal income tax returns. This concept of employment differs from that in the Current Population Survey (CPS), which is derived from a monthly count of persons employed; any individual will appear only once in the CPS in a given month, no matter how many different jobs he or she might hold. (See the notes and definitions to Tables 10-1 through 10-5.) In addition, a self-employed individual who files more than one Schedule C income-tax filing will be counted more than once in the state figures. Finally, the state figures include members of the armed forces, who are not covered in the CPS. Due to these differences and other possible reporting inconsistencies, the BEA estimates are different from, and usually larger than, state employment estimates from the CPS. The employment estimates correspond closely in coverage to the earnings estimates. However, the earnings estimates include the income of limited partnerships and of tax-exempt cooperatives, for which there are no corresponding employment estimates. Per capita income is total income divided by the state’s population. It is therefore an average or “mean,” subject to the qualifications discussed in “Using the Data” at the beginning of this volume, under the heading “Whose Standard of Living?” For recent data on median household income by state, which give a better idea of the

CHAPTER 21: REGIONAL AND STATE DATA

income of typical residents of the state, see Table 3-14 in Chapter 3. The states and the District of Columbia are divided into regions by BEA as follows: • New England: Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, Vermont • Mideast: Delaware, District of Columbia, Maryland, New Jersey, New York, Pennsylvania • Great Lakes: Illinois, Indiana, Michigan, Ohio, Wisconsin • Plains: Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, South Dakota • Southeast: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, South Carolina, Tennessee, Virginia, West Virginia • Southwest: Arizona, New Mexico, Oklahoma, Texas • Rocky Mountain: Colorado, Idaho, Montana, Utah, Wyoming • Far West: Alaska, California, Hawaii, Nevada, Oregon, Washington These BEA regional groupings differ from the region and division definitions used by the U.S. Bureau of the Census.

583

Data availability and references The most recent comprehensive revision of state personal income, consistent with the 2003 comprehensive revision of the NIPAs, was presented in “Comprehensive Revision of State Personal Income: Preliminary Estimates for 2003, Revised Estimates for 1969–2002,” Survey of Current Business, May 2004. The latest updating is described in “State Personal Income: Second Quarter of 2005 and Revised Estimates for 2002–2005:I,” Survey of Current Business, October 2005. These articles can be found on the BEA Web site at . All current and historical data are on the BEA Web site at . Included on the site are some annual state data going back even farther than shown here: personal income, per capita personal income, and population back to 1929; disposable personal income and per capita disposable personal income back to 1948; and various levels of industry detail for income and wages and salaries within the state data back to 1929. For a complete listing, see the referenced article in the October 2005 Survey of Current Business.

INDEX

INDEX A ACCESSORIES Definitions, 88 ACCOUNTING Receipts of taxable firms, 361 ADVANCED TECHNOLOGY U.S. exports of goods by end-use and advanced technology, 167 U.S. imports of goods by end-use and advanced technology, 168 AFRICA Growth rates in real GDP, 286 AGE Income distribution and poverty poor people 16 years and over by work experience, 63 poverty status of people by age, 61 Poverty status of people by age, 61 total rates for children and seniors, 55 AGGREGATE HOURS Definitions, 250 Indexes of aggregate weekly hours, 332 AGGREGATE INCOME Indexes of aggregate weekly payrolls, 334 Shares of aggregate income received by families, 54 Shares of aggregate income received by households, 53 AGRICULTURE Definitions, 209 Prices farmers’ prices received and paid, 203 ALABAMA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ALASKA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ALTERNATIVE DEFINITIONS OF INCOME Income distribution and poverty median income and poverty rates based on, 65, 66 poverty rates, 66, 67 AMUSEMENT AND RECREATION Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 APPAREL Consumer prices: all items, 1946–2004, 193 APPAREL INDEX Definitions, 205 ARIZONA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ARKANSAS GDP by region and state, 516

Median income and poverty rates by state, 69 Personal income and employment, 521 ASIA Growth rates in real GDP, 286 ASIAN NEWLY INDUSTRIALIZED COUNTRIES (NICS) Definitions, 185 Growth rates in real GDP, 286 ASSETS Commercial banks, 261 Credit market assets held by sector, 279 Fixed assets current-cost values and quantity indexes, 1929–1948, 382 Household assets, 268 Money stock measures, 258, 259 Saving and investment; business sales and inventories chain-type quantity indexes for net stock of fixed assets, 100 current-cost net stock of fixed assets, 99 AUGMENTED UNEMPLOYMENT RATE Definitions, 246 AUSTRIA Growth rates in real GDP, 286 AUTOMOTIVE REPAIR Receipts of taxable firms, 361 AVERAGE HOURLY EARNINGS Generally, 241, 328 AVERAGE WEEKLY EARNINGS Generally, 242, 330 AVERAGE WEEKLY HOURS Generally, 239, 326 Indexes of aggregate weekly hours, 240, 332 Production or nonsupervisory workers by NAICS industry, 326 Selected industries, 1947–2004, 238 B BALANCE ON CURRENT ACCOUNT Definitions, 179 BALANCE ON GOODS Definitions, 179 BALANCE ON INCOME Definitions, 179 BALANCE ON SERVICES Definitions, 179 BALANCE ON UNILATERAL TRANSFERS Definitions, 179 BANKS AND BANKING Aggregate reserves of depository institutions and monetary base, 260 Commercial bank credit and selected liabilities, 261 Consumer credit, 271 Credit market debt outstanding, 264 Money stock measures, 258, 259 Selected components of the money stock, 259

587

588

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

BELGIUM Growth rates in real GDP, 286 BENCHMARK ADJUSTMENTS Definitions, 249 BENEFIT COSTS Employment cost indexes, 214 BENEFITS Changes in wages and salaries and in benefit costs private industry, 1980–2004, 211 Definitions, 223 BONDS Common stock prices and yields, 275 Definitions, 282 Historical data, 461 Notes on the data, 282 Selected interest rates and bond yields, 272 BORROWING Federal government, 119 National saving, investment, and borrowing, 1946–2004, 89 Net lending and borrowing, 108 State and local government, 126 BRAZIL Growth rates in real GDP, 286 BRITISH THERMAL UNIT Definitions, 256 BUILDING MATERIALS Inventories, 359 Sales, 356 BUILDING PERMITS Housing starts, 341 New construction put in place, 339 BUSINESS CURRENT TRANSFER PAYMENTS, NET Definitions, 28 BUSINESS SALES AND INVENTORIES see SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES BUSINESS SERVICES Receipts of taxable firms, 361 C CALIFORNIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 CAMPS Revenue of tax-exempt firms, 361 CANADA Consumer price indexes, 289 Exchange rates, 292 Growth rates in real GDP, 286 Real GDP per capita, 287 Real GDP per employed person, 288 Unemployment rates, 290 CAPACITY UTILIZATION Data availability, 47 Definitions, 47 Generally, 35, 445

Historical data, 445 Indexes by market groups, 36 Indexes by NAICS industry groups, 40 Industrial production and capacity utilization, 35, 445 NAICS industry groups, 43 Notes on the data, 46 References, 47 Revisions, 47 CAPITAL ACCOUNT TRANSACTIONS Definitions, 108 CAPITAL CONSUMPTION Definitions, 144 CAPITAL EXPENDITURES Saving and investment; business sales and inventories 1996–2003, 105 companies with employees, by NAICS industry sector, 1998–2003, 106 CENTRAL AND EASTERN EUROPE Growth rates in real GDP, 286 CHAINED-DOLLAR ESTIMATES Definitions, 25 CHAIN-TYPE PRICE INDEXES Final sales, 10 Foreign trade and finance, 152 Gross domestic product and domestic purchases, 9, 402 Inflation indicators, 1946–2004, 187 CHAIN-TYPE QUANTITY INDEXES Federal government consumption expenditures and gross investment, 120, 121 government output, 140 Foreign trade and finance, 151, 154 Government consumption expenditures and gross investment, 120, 121, 127 government output, 140 Gross domestic product and domestic purchases, 8, 398 Personal consumption expenditures by major type of product, 81 Saving and investment; business sales and inventories net stock of fixed assets, 100 private fixed investment by type, 97 State and local government consumption expenditures and gross investment, 127 CHANGE IN PRIVATE INVENTORIES Definitions, 25 Gross domestic product, 4 Real gross domestic product, 5 CHECKABLE DEPOSITS Definitions, 276 CHILDREN Poverty rates for children, 55 CHINA Growth rates in real GDP, 286 CIGARETTES Definitions, 88

INDEX

CITIES Income distribution and poverty poverty status of people inside and outside metropolitan areas, 62 CIVILIAN EMPLOYMENT Employment, hours, and earnings, 229 Unemployment rates, 230–233 CIVILIAN NONINSTITUTIONAL POPULATION Definitions, 244 CIVILIAN POPULATION AND LABOR FORCE Employment, hours, and earnings general data, 228, 229 insured unemployment, 233 unemployment rates, 230–233 International comparisons, 290 CLOTHING AND ACCESSORIES Definitions, 88 Inventories, 359 Sales, 356 COAL Energy supply and consumption, 254 COLORADO GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 COMMERCIAL BANKS Credit and selected liabilities, 261 Credit market debt outstanding, 264 Data availability, 278 Definitions, 277 Notes on the data, 277 COMMODITY GROUPS Producer price indexes, 201 COMMONWEALTH OF INDEPENDENT STATES Growth rates in real GDP, 286 COMPENSATION Definitions, 27 Employment cost indexes benefit costs, 214 total compensation, 212 wages and salaries, 213 Gross domestic income definitions, 23 type of income, 17 Wages and salaries see WAGES AND SALARIES COMPOSITE INDEXES Composite price index and OFHEO house price index, 1975–2004, 274 Gross domestic product economic activity and selected index components, 12 Historical data, 503 CONNECTICUT GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 CONSTRUCTION AND HOUSING Building permits, 341

589

Definitions, 364 House sales and prices, 341 Housing starts, 341 New construction put in place, 339 CONSUMER CREDIT Data availability, 282 Definitions, 282 Generally, 271 CONSUMER INCOME AND SPENDING Chain-type quantity indexes: expenditures by major type of product, 81 Data availability, 87 Definitions, 85 Disposition of personal income, 76 Personal consumption expenditures: current and constant dollars, 78 Personal consumption expenditures by major type of product, 79 Personal consumption expenditures by type of expenditure, 83, 84 Personal income and its disposition, 76 Personal saving rate, 1946–2004, 75 References, 87 Revisions, 87 State and regional data annual data, 521 CONSUMER PRICE INDEXES All items, 1946–2004, 193 Alternative measures of total and core consumer prices index levels, 194 inflation rates, 195 Data availability, 207 Definitions, 204 General data, 188 Historical data, 188, 455 Inflation indicators, 1946–2004, 187 International comparisons, 289 References, 207 Summary consumer and producer price indexes, 455 CONSUMPTION OF FIXED CAPITAL Definitions, 29, 108 CORPORATIONS Gross and net value added of domestic corporate business, 21 Gross value added of nonfinancial domestic corporate business, 22 Profits corporate profits with IVA by major sector, 1948–2004, 218 definitions, 28 inventory valuation adjustment (NAICS basis), 221 inventory valuation adjustment (SIC basis), 219 COSTS Employment costs, productivity, and profits see EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS CREDIT MARKET Credit market assets held by sector, 279 Data availability, 280

590

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Debt outstanding, 264 Definitions, 278 Notes on the data, 278 Sectors owing debt, 278 CREDITS Definitions, 178 CRUDE OIL Energy supply and consumption, 254 CURRENCY Definitions, 276 CURRENT COST Definitions, 181 Fixed assets current-cost values and quantity indexes, 1929–1948, 382 CURRENT-DOLLAR Per capita product and income and population, 11 Personal consumption expenditures current dollars, constant dollars, and price indexes, 78 Real gross domestic product, 6 CURRENT PAYMENTS TO THE REST OF THE WORLD Definitions, 177 CURRENT RECEIPTS FROM THE REST OF THE WORLD Definitions, 177 CURRENT SURPLUS OF GOVERNMENT ENTERPRISES Definitions, 143 CURRENT TAXES AND TRANSFER PAYMENTS (NET) Definitions, 178 CURRENT TRANSFER RECEIPTS Definitions, 143 CYCLICAL INDICATORS Composite indexes economic activity and selected index components, 12 National income and product and cyclical indicators, 3 D DEBITS Definitions, 179 DEBT Aggregate reserves of depository institutions and monetary base, 260 Commercial bank credit and selected liabilities, 261 Consumer credit, 271 Credit market debt outstanding, 264 Federal government debt by fiscal year, 138 Gross domestic product debt as a percent of GDP, 1945–2004, 263 Household financial obligations, 268 Money stock measures, 258, 259 Mortgage debt outstanding, 270 Ratio of household debt service to personal income, 1980–2004, 267 DEBT HELD BY FEDERAL RESERVE SYSTEM Definitions, 147

DEBT HELD BY PRIVATE INVESTORS Definitions, 147 DEBT HELD BY SOCIAL SECURITY FUNDS Definitions, 147 DEFENSE SPENDING Chain-type quantity indexes for expenditures and investment, 120, 121 Defense and nondefense consumption expenditures by type, 117 Government spending as a percent of GDP, 1945–2004, 134 National defense consumption expenditures and gross investment, 118, 120, 121 DEFINITIONS Accessories, 88 Aggregate hours, 250 Agriculture, 209 Alternative definitions of income, 70 Apparel index, 205 Asian Newly Industrialized Countries, 185 At work part-time for economic reasons, 245 At work part-time for noneconomic reason, 245 Augmented unemployment rate, 246 Average poverty thresholds, 71 Balance on current account, 179 Balance on goods, 179 Balance on income, 179 Balance on services, 179 Balance on unilateral transfers, 179 Benchmark adjustments, 249 Benefits, 223 Bond yields, 282 Break in series: travel and passenger fares, 179 British thermal unit, 256 Business current transfer payments, net, 28 Capacity utilization, 47 Capital account, 179 Capital account transactions, 108 Capital consumption, 144 Chained-dollar estimates, 25 Change in private inventories, 25 Checkable deposits, 276 Civilian employment, 244 Civilian labor force, 244 Civilian noninstitutional population, 244 Civilian workers, 223 Clothing, 88 Commercial banks, 277 Compensation, 27 Compensation of employees, received, 85 Compensation per hour, 222, 224 Construction and housing, 364 Consumer credit, 282 Consumer income and spending, 85 Consumer price indexes, 204 Consumption of fixed capital, 29, 108 Contributions for government social insurance, 86 Contributions for social insurance, 143 Corporate profits, 28

INDEX

Credit market, 278 Credits, 178 Currency, 276 Current cost, 181 Current payments to the rest of the world, 177 Current receipts from the rest of the world, 177 Current surplus of government enterprises, 143 Current taxes and transfer payments (net), 178 Current tax receipts, 143 Current transfer receipts, 143 Debits, 179 Debt held by Federal Reserve System, 147 Debt held by other U.S. government accounts, 147 Debt held by private investors, 147 Debt held by Social Security funds, 147 Debt service, 281 Delinquency rates, 280 Demand deposits, 276 Diffusion index of employment change, 249 Direct defense expenditures, 184 Direct investment, 179, 181 Disposable personal income, 86 Dividends, 29 Durable goods, 87 Earnings, 70 Economic affairs, 145 Education, 88, 145 Education and communication, 205 Employer contributions, 27 Employment, 248 Employment, hours, and earnings, 244 Employment costs, productivity, and profits, 222 Employment to population ratio, 245 Energy, 256 Establishment, 248 Euro Area, 184 Eurodollars, 276 European Union, 184 Exchange rates, 294 Exports and imports of goods and services, 177 Extended credit, 277 Families, 70 Family assistance, 86 Farmers, 209 Federal budget, 142 Federal grants-in-aid, 144 Federal programs of unemployment, 248 Final products, 46 Final sales, 26 Financial account, 179 Financial assets, 280 Financial obligations, 280 Financial obligations ratios, 281 Food, 88 Food and beverage index, 205 Foreign official assets, 179 Foreign trade and finance, 177 Foreign travel, 88 GDP price indexes, 26

General public service, 145 Gini coefficient, 71 Goods, 182 Government consumption expenditures, 25, 144 Government net saving, 108 Government social benefits, 86, 144 Gross domestic income, 23 Gross domestic product, 23, 314 Gross domestic purchases, 26 Gross government investment, 25, 108, 144 Gross national income, 23, 109 Gross national product, 23 Gross nonresidential fixed investment, 109 Gross output, 144 Gross private domestic investment, 24, 108 Gross private fixed investment, 109 Gross public debt — total, 147 Gross saving, 108 Gross value added, 29 Hispanic or Latino ethnicity, 70, 244 Historical data, 387, 444 Hours of all persons, 224 Household assets, 280 Household debt service, 280 Household operation, 88 Households, 70 Housing, 88 Housing and community services, 145 Housing index, 205 Housing starts, 366 Imputation, 24 Income, 71 Income distribution and poverty generally, 70 income and poverty rates based on alternative definitions of income, 65, 66 Income receipts and payments, 178 Income receipts on assets, 143 Income security, 146 Index of coincident economic indicators, 32 Index of lagging economic indicators, 32 Index of leading economic indicators, 32 Industrial production index, 46 Industry groups, 46 Initial claim, 248 Insured unemployment, 248 Interest payments, 144 Interest rates, 282 Interest receipts, 143 Intermediate goods and services purchased, 144 International comparisons, 293 International transactions, 178 Inventories to sales ratios, 109 Inventory valuation adjustment, 29 Jewelry, 88 Job leavers, 245 Job losers, 245 Key sector statistics, 364 Labor force participation rate, 245

591

592

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Large time deposits, 276 Liabilities, 280 License fees, 184 Long-term unemployed, 245 M1, 276 M2, 276 M3, 276 Manufacturing, 368 Market groups, 46 Market value, 181 Mean income, 71 Median and average weeks unemployed, 246 Median income, 70 Medical care, 88 Medical care index, 205 Merchants, 371 Metropolitan area status, 71 Mortgages, 281 Multiple jobholders, 245 NAICS employment, hours, and earnings, 336 industry definitions: with rough derivation from SIC, 301 National income, 24 Net exports of goods and services, 25 Net interest, 27 Net lending or borrowing, 108, 177 Net national product, 24 Net operating surplus, 27 Net saving, 144 Net worth, 280 New entrants, 246 Nondurable goods, 87 Nonresidential equipment and software, 25, 109 Nonresidential fixed investment, 25 Nonresidential structures, 25, 109 On-budget and off-budget, 146 Organization of Petroleum Exporting Countries, 185 Outlays, 146 Outlays by function, 146 Output per hour of all persons, 224 overtime hours, 250 Passenger fares, 183 Personal business, 88 Personal care, 88 Personal consumption expenditures, 24, 87 Personal current taxes, 86, 143 Personal current transfer receipts, 86 Personal dividend income, 86 Personal income, 85 Personal income receipts on assets, 86 Personal interest income, 86 Personal outlays, 86 Personal saving, 86, 108 Persons not in the labor force who want a job, 245 Petroleum and petroleum products, 364 Poverty, 71 Poverty population, 71 Poverty thresholds, 71

Prices, 205 Private capital consumption adjustment, 29 Private capital consumption allowances, 29 Private fixed investment, 24 Private industry workers, 223 Private transportation index, 205 Producer price indexes, 208 Production, 46 Production or nonsupervisory workers, 249 Productivity, 224 Profits after tax, 29 Proprietors’ income with inventory valuation, 28, 85 Public order and safety, 145 Quantity indexes, 581 Quintiles, 71 Racial classifications, 70 Real compensation per hour, 224 Real federal funds rate, 282 Real gross private investment, 109 Real or chained dollar estimates, 25 Real rate on TIPS, 282 Receipts, 146 Recreation, 88, 205 Reentrants, 246 Regional data, 581 Religious activities, 88 Rental income of persons, 28, 85 Rents, 143 Repayments on U.S. credits, 180 Repurchase agreements, 276 Required reserves, 277 Research, 88 Residential private fixed investment, 25, 109 Retail trade, 370 Royalties, 143, 184 Saving and investment; business sales and inventories, 108 Savings deposits, 276 Seasonal adjustment, 250 Selected annual data, 387 Self-employed workers, 245 Services, 87, 183 Small time deposits, 276 Software, 25 Sources of financing, 146 State and regional data, 581 State programs of unemployment insurance, 247 Stocks and bonds, 282 Subsidies, 27, 144 Supplements to wages and salaries, 27, 85 Tangible assets, 280 Taxes on corporate income, 29,143 Taxes on production and imports, 27, 143 Tobacco, 88 Total compensation, 223 Total consumption expenditures, 146 Total liabilities, 280 Total reserves, 277 Total surplus, 146

INDEX

Transportation, 88 Travel, 183 U.S. bank claims, 182 U.S. government grants, 180 U.S. nonbank claims, 182 U.S. official reserve assets, 182 Undistributed offsetting receipts, 146 Undistributed profits, 29, 108 Unemployed persons, 244 Unemployment rate, 245 Unemployment rates by reason, 245 Unit labor costs, 224 Unit nonlabor costs, 224 Unit nonlabor payments, 224 Unrelated individuals, 70 Value added, 144 Wage and salary accruals, 27 Wage and salary disbursements, 85 Wage and salary employment, 245 Welfare activities, 88 Wholesale trade, 371 Work experience, 72 DELAWARE GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 DELINQUENCY RATES Definitions, 280 Household assets, financial obligations, and delinquency rates, 268 DEMAND DEPOSITS Definitions, 276 DEPARTMENT STORES Inventories, 359 Sales, 356 DEPOSITORY INSTITUTIONS Aggregate reserves, 260 DIRECT INVESTMENT Definitions, 181 DISPOSABLE INCOME Per capita product and income and population, 11 DISTRICT OF COLUMBIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 DIVIDENDS Definitions, 29 DOLLAR Purchasing power of the dollar, 196 Value of the U.S. dollar, 1973–2004, 291 DURABLE GOODS Definitions, 87 New orders for durable goods, 1959–2004, 337 Per capita product and income and population, 11 Unfilled orders, 352

E EARNINGS Wages and salaries see WAGES AND SALARIES E-COMMERCE Service industries, 363 ECONOMIC AFFAIRS Definitions, 145 ECONOMIC GROWTH AND CHANGE Historical data, 503 EDUCATION Definitions, 88, 145, 205 ELECTRONICS AND APPLIANCES Inventories, 359 Sales, 356 EMPLOYMENT COST INDEXES Benefit costs, 214 Data availability, 223 Notes on the data, 223 References, 223 Total compensation, 212 Wages and salaries, 213 EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS Change in labor productivity, nonfarm business, 1948–2004, 215 Changes in wages and salaries and in benefit costs private industry, 1980–2004, 211 Definitions, 222 Employment cost indexes benefit costs, 214 total compensation, 212 wages and salaries, 213 Productivity and related data, 216 EMPLOYMENT, HOURS, AND EARNINGS Average hourly earnings, 241, 328 Average weekly earnings, 242, 330 Average weekly hours, 239, 326 Average weekly hours, selected industries, 1947–2004, 238 Civilian employment, 229 Civilian employment and unemployment, 230–233 Civilian population and labor force, 228 Civilian unemployment rates, 230–233 Data availability, 247 Definitions, 244, 336 Employment, 1929–1948, 377 Establishment definitions, 248 Federal government, 139, 141 Government, 139, 141 Historical data, 465, 475 Indexes of aggregate weekly hours, 240, 332 Insured unemployment, 224 Labor force participation rate, 1948–2004, 227

593

594

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Manufacturing, 185, 86 NAICS average hourly earnings of production or nonsupervisory workers, 328 average weekly earnings of production or nonsupervisory workers, 330 average weekly hours of production, 326 definitions, 336 indexes of aggregate weekly hours, 332 indexes of aggregate weekly payrolls, 334 nonfarm employment by NAICS sector and industry, 318 production or nonsupervisory workers on private payrolls, 324 Net new nonfarm payroll jobs by NAICS industry group, 1990–2004, 317 Nonfarm payroll employment by NAICS supersector, 235, 318 Nonfarm payroll employment, hours, and earnings, 475 Nonsupervisory workers on private nonfarm payrolls, 237 Notes on data, 246 Production workers on private nonfarm payrolls, 237 References, 247 State and local government, 139, 141 State and regional data annual data, 521 Total nonfarm payroll employment, 1946–2004, 234 Unemployment rates data, 1948–2004, 227 general data, 230–233 ENERGY Consumption and prices, 1949–2004, 253 Consumption per dollar of real gross domestic product, 255 Definitions, 256 Notes on the data, 256 References, 256 Supply and consumption, 254 ENGINEERING Receipts of taxable firms, 361 EURO AREA Definitions, 184 Growth rates in real GDP, 286 EURODOLLARS Definitions, 276 EUROPEAN UNION Definitions, 184 Exchange rates, 292 Growth rates in real GDP, 286 EXCHANGE RATES Definitions, 294 International comparisons, 292 Notes on the data, 295 References, 295 Value of the U.S. dollar, 1973–2004, 291

EXPENDITURES Consumer income and spending see CONSUMER INCOME AND SPENDING Receipts and expenditures see RECEIPTS AND EXPENDITURES EXPORT PRICE INDEXES Data availability, 186 U.S. foreign trade and finance, 176 EXPORTS U.S. foreign trade and finance see FOREIGN TRADE AND FINANCE EXTENDED CREDIT Definitions, 277 F FAMILIES Income distribution and poverty definitions, 70 median family income, 49, 52 poverty status by type of family, 57 poverty thresholds by family size, 56 shares of aggregate income received, 54 Poverty average poverty thresholds by family size, 56 status by type of family, 57 FARMERS Definitions, 209 Prices prices received and paid by farmers, 203 FEDERAL GOVERNMENT Borrowing, 119 Chain-type quantity indexes consumption expenditures and gross investment, 120, 121 government output, 140 Current receipts and expenditures, 114, 414 Current tax receipts, 143 Defense and nondefense consumption expenditures by type, 117 Defense spending as a percent of GDP, 1945–2004, 134 Definitions, 143 Employment, 139, 141 Federal budget, 1929–1948, 386 Historical data current receipts and expenditures, 114, 414 Investment net investment, 119 Lending, 119 National defense consumption expenditures and gross investment, 118, 120, 121 Net investment, 119 Outlays receipts and outlays by fiscal year, 135 Output, 119 Receipts and expenditures consumption expenditures and gross investment, 116 current receipts and expenditures, 112, 414

INDEX

data availability, 146 debt by fiscal year, 138 defense and nondefense consumption expenditures by type, 117 national defense consumption expenditures and gross investment, 118, 120, 121 receipts and outlays by fiscal year, 135 references, 146 Saving and dis-saving, 1946–2004, 113 Transactions in the national income and product accounts, 150 FEDERAL GRANTS-IN-AID Definitions, 144 FEDERAL RESERVE Debt held by Federal Reserve System defined, 147 FINAL PRODUCTS Definitions, 46 FINAL SALES Definitions, 26 Gross domestic product, 10 FINANCIAL MARKETS Common stock prices and yields, 275 Credit market debt outstanding, 264 Data availability, 180 Federal funds rate, 1962–2004, 257 Money stock measures, 258, 259 Mortgage debt outstanding, 270 Selected components of the money stock, 259 Selected interest rates and bond yields, 272 Treasury securities rate, 1962–2004, 257 FINLAND Growth rates in real GDP, 286 FISCAL YEAR Federal government debt by fiscal year, 138 FIXED ASSETS Current-cost values and quantity indexes, 1929–1948, 382 Saving and investment; business sales and inventories chain-type quantity indexes for net stock, 100 current-cost net stock, 99 FIXED INVESTMENT Gross domestic product, 4 Real gross domestic product, 5 FLORIDA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 FOOD AND BEVERAGE INDEX Definitions, 205 FOOD AND FOOD PRODUCTS Definitions, 88 Inventories, 359 Sales, 356 FOOD SERVICES SALES Inventories, 359 Retail and food services sales, 356

595

FOREIGN OFFICIAL ASSETS Definitions, 179 FOREIGN TRADE AND FINANCE Balance, receipts, and payments on current account, 1946–2004, 149 Balance on current account and financial inflows and outflows, 1960–2004, 155 Chain-type price indexes for exports and imports, 152 Chain-type quantity indexes for exports and imports, 151, 154 Data availability, 180 Definitions, 177 Export and import price indexes, 176 Exports and imports of selected NIPA types of product, 153, 154 Foreigners’ transactions in long-term securities, 162 Goods U.S. exports and imports of goods and services, 166 U.S. exports and imports of goods by principal end-use category, 169 U.S. exports of goods by end-use and advanced technology categories 167 U.S. exports of goods by selected regions and countries, 170 U.S. imports of goods by end-use and advanced technology categories, 168 U.S. imports of goods by selected regions and countries, 172 Gross domestic product, 4 Historical data U.S. international transactions, 156, 430 International investment position of the U.S. at year-end, 164 Notes on the data, 179 Real gross domestic product, 5 Receipts, payments, and balance on current account, 1946–2004, 149 References, 180 Trade balances on goods and services, 1960–2004, 165 Transactions in the national income and product accounts, 150 U.S. export and import price indexes, 176 U.S. exports and imports of goods and services, 166 U.S. exports and imports of goods by principal end-use category, 169 U.S. exports of goods by end-use and advanced technology categories, 167 U.S. exports of goods by selected regions and countries, 170 U.S. exports of services, 166, 174 U.S. imports of goods by end-use and advanced technology categories, 168 U.S. imports of goods by selected regions and countries, 172 U.S. imports of services, 166, 175 U.S. international transactions, 156, 430

596

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

FOREIGN TRAVEL Definitions, 88 FRANCE Consumer price indexes, 289 Exchange rates, 292 Growth rates in real GDP, 286 Real GDP per capita, 287 Real GDP per employed person, 288 Unemployment rates, 290 FURNITURE AND HOME FURNISHINGS Inventories, 359 Sales, 356 G GASOLINE Sales, 356 GENERAL MERCHANDISE Inventories, 359 Sales, 356 GENERAL PUBLIC SERVICE Definitions, 145 GEORGIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 GEOTHERMAL ENERGY Energy supply and consumption, 254 GERMANY Consumer price indexes, 289 Exchange rates, 292 Growth rates in real GDP, 286 Real GDP per capita, 287 Real GDP per employed person, 288 Unemployment rates, 290 GINI COEFFICIENT Definitions, 71 GOODS Chain-type quantity indexes for exports and imports of goods, 151 Definitions, 182 Foreign trade and finance U.S. exports and imports of goods and services, 166 U.S. exports and imports of goods by principal end-use category, 169 U.S. exports of goods by end-use and advanced technology categories, 167 U.S. exports of goods by selected regions and countries, 170 U.S. imports of goods by end-use and advanced technology categories, 168 U.S. imports of goods by selected regions and countries, 172 Foreign trade balances on goods, 1960–2004, 165 GOVERNMENT Chain-type quantity indexes consumption expenditures and gross investment, 120, 121, 127 government output, 140

Consumption expenditures, 116 Current tax receipts, 143 Definitions, 143 Employment, 139, 141 Federal government current receipts and expenditures, 114 debt by fiscal year, 138 employment, 139, 141 Gross domestic product defense spending as a percent of GDP, 1945–2004, 134 Gross investment, 116 National defense consumption expenditures and gross investment, 118, 120, 121 State and local government chain-type quantity indexes for expenditures and investment, 127 consumption expenditures and gross investment, 125, 132, 133 current receipts and expenditures, 123, 128, 130 output, lending and borrowing, and net investment, 126 GOVERNMENT CONSUMPTION EXPENDITURES Chain-type price indexes, 9 Chain-type quantity indexes, 8 Definitions, 25, 144 Gross domestic product, 4 Real gross domestic product, 5 GOVERNMENT NET SAVING Definitions, 108 GOVERNMENT SOCIAL BENEFITS Definitions, 86, 144 GREECE Growth rates in real GDP, 286 GROSS DOMESTIC INCOME Definitions, 23 Income relation of GDP and personal income, 14 Type of income, 17 GROSS DOMESTIC PRODUCT Chain-type price indexes, 9, 402 Chain-type quantity indexes, 8, 398 Composite indexes economic activity and selected index components, 12 Contributions to percent change in real gross domestic product, 6, 7 Current-dollar and real GDP, 1946–2004, 6, 7 Debt as a percent of GDP, 1945–2004, 263 Definitions, 23, 314 Difference between GNP and GDP, 16 Domestic income of corporate business, 21, 22 Energy consumption per dollar of real GDP, 255 Final sales, 10 Generally, 4 Government defense spending as a percent of GDP, 1945–2004, 134

INDEX

Gross and net national product, 14 Historical data chain-type quantity indexes, 398 quarterly data, 389 real gross domestic product, 5, 7, 393, 394 state and regional data, 516 Industry profiles data availability, 315 definitions, 314 GDP by NAICS industry group, 311, 312 GDP by SIC industry group, 310 notes on the data, 314 references, 315 International comparisons definitions, 293 growth rates in real GDP, 286 real GDP per capita, 287 real GDP per capita, United States and Japan, 1960–2004, 285 real GDP per employed person, 288 National income and product and cyclical indicators, 3 National income by type of income, 19 Output per capita, 3 Per capita product and income and population, 11 Percent changes in current-dollar and real GDP, 6, 7 Price indexes defined, 26 Product and income by industry value added by NAICS industry group, 311, 312 value added by SIC industry group, 310 Real gross domestic product, 5, 7, 393, 394 Regional data, 516 State data, 516 GROSS DOMESTIC PURCHASES Definitions, 26 Gross domestic product, 4 Real gross domestic product, 5 GROSS GOVERNMENT INVESTMENT Definitions, 25, 108, 144 GROSS INVESTMENT Definitions, 144 GROSS NATIONAL INCOME Definitions, 23, 109 GROSS NATIONAL PRODUCT Definitions, 23 Difference between GNP and GDP, 16 GROSS NONRESIDENTIAL FIXED INVESTMENT Definitions, 109 GROSS OUTPUT Definitions, 144 GROSS PRIVATE DOMESTIC INVESTMENT Definitions, 24, 108 GROSS PRIVATE FIXED INVESTMENT Data, 90 Definitions, 109 Saving and investment; business sales and inventories, 76 GROSS PUBLIC DEBT — TOTAL Definitions, 147

597

GROSS SAVING AND INVESTMENT Definitions, 108 GROSS VALUE ADDED Definitions, 29 H HAWAII GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 HEALTH AND PERSONAL CARE Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 Sales, 356 HIGH-TECH Capacity utilization: total manufacturing and high tech, 35, 445 HISPANIC ORIGIN Income distribution and poverty definitions, 70, 244 median income of households, 51 poverty status by Hispanic origin, 57 HISTORICAL DATA Bond yields, 493 Capacity utilization, 445 Chain-type price indexes, 9, 402 Chain-type quantity indexes, 398 Composite indexes of economic activity and selected index components, 503 Consumer price indexes, 188, 455 Definitions, 387, 444 Economic activity and selected index components, 503 Employment, 1929–1948, 377 Employment, hours, and earnings, 465, 475 Federal budget, 1929–1948, 386 Federal government current receipts and expenditures, 114, 414 Fixed assets current-cost values and quantity indexes, 1929–1948, 382 Foreign trade and finance U.S. international transactions, 156, 430 Gross domestic product chain-type price indexes, 9, 402 chain-type quantity indexes, 398 contributions to percent change in real GDP, 6, 7, 394 quarterly data, 389 real gross domestic product, 5, 7, 393, 394 state and regional data, 516 Income and its disposition, 76, 406 Interest rates, 493 Inventories to sales ratios, 410 Labor force, 465 Monetary base, 485 Money stock, 485 National income and product accounts, 1929–1948, 378

598

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

NIPA data on real output, prices, and employment, 380 Nonfarm payroll employment by NAICS supersector, 235, 318 Output per capita, 1929–1948, 375 Personal income and its disposition, 76, 406 Price and production indexes and labor force data, 384 Producer price indexes, 455 Production, 445 Productivity and related data, 436 Real GDP, 5, 7, 393, 394 Regional and state data per capita personal income, 1958–2004, 515 Reserves, 485 Stock price indexes, 493 Summary consumer and producer price indexes, 455 Summary labor force, employment, and unemployment, 465 U.S. international transactions, 156, 430 Unemployment rates, 465 HOTELS Receipts of taxable firms, 361 HOURS OF WORK Average hourly earnings, 241, 328 Average weekly hours, 239, 326 Average weekly hours, selected industries, 1947–2004, 238 Indexes of aggregate weekly hours, 240, 332 Nonfarm payroll employment by NAICS supersector, 235, 318 Private nonfarm payrolls, 239, 326 HOUSEHOLD DEBT Ratio of household debt service to personal income, 1980–2004, 267 HOUSEHOLD INCOME Median household income, 49, 50 Relation of GDP and personal income, 14 Shares of aggregate income received, 53 HOUSEHOLD OPERATION Definitions, 88 HOUSING Definitions, 88 Existing house prices, 275 Housing starts and building permits, 341 New construction put in place, 339 HOUSING AND COMMUNITY SERVICES Definitions, 145 HOUSING INDEX Definitions, 205 HOUSING STARTS Building permits, 341 Definitions, 366 House sales and prices, 341 HYDROELECTRIC POWER Energy supply and consumption, 254

I IDAHO GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ILLINOIS GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 IMPORT PRICE INDEXES Data availability, 186 U.S. foreign trade and finance, 176 IMPORTS Chain-type price indexes, 9 Chain-type quantity indexes, 8 Gross domestic product, 4 Oil and gas, 338 Petroleum and petroleum products, 338 Real gross domestic product, 5, 7 U.S. foreign trade and finance see FOREIGN TRADE AND FINANCE IMPUTATION Definitions, 24 INCOME Alternative definitions of income, 65, 66 Comparison of NAS-based and official poverty rates, 68 Composite indexes economic activity and selected index components, 12 Consumer income and spending see CONSUMER INCOME AND SPENDING Definitions, 70 Factor income by type, 1948 and 2004, 13 Families shares of aggregate income received, 54 Foreign transactions in the national income and product accounts, 150 Gross domestic income definitions, 23 relation of GDP and personal income, 14 type of income, 17 Historical data, 76, 406 Households shares of aggregate income received, 53 Median household income, 49, 50 National income and product and cyclical indicators see NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS Official and NAS-based poverty rates, 67 Per capita personal income, 1958–2004, 515 Per capita product and income and population, 11 Personal income and employment, 521 Personal income and its disposition, 76, 406 Ratio of household debt service to personal income, 1980–2004, 267

INDEX

Relation of GDP and personal income, 14 Shares of aggregate income received, 53, 54 Type of income, 19 Value added, 13 INCOME DISTRIBUTION AND POVERTY Age poor people 16 years and over by work experience, 63 poverty status of people by age, 61 total rates for children and seniors, 55 Alternative definitions of income median income and poverty rates based on, 65, 66 poverty rates, 66, 67 Alternative measures and state data, 64 Average poverty thresholds definitions, 71 Cities poverty status of people inside and outside metropolitan areas, 62 Comparison of NAS-based and official poverty rates, 68 Data availability, 74 Definitions generally, 70 income and poverty rates based on alternative definitions of income, 65, 66 Earnings definitions, 70 Families definitions, 70 median family income, 49, 52 poverty status by type of family, 57 poverty thresholds by family size, 56 shares of aggregate income received, 54 Gini coefficient definitions, 71 Hispanic origin definitions, 70 median income of households, 51 poverty status by Hispanic origin, 57 Household income median and mean household income, 49, 50 shares of aggregate income received, 53 Households definitions, 70 Income definitions, 71 Mean income definitions, 71 Median household income, 49, 50 Median income definitions, 70 income and poverty rates by state, 69 poverty rates based on alternative definitions of income, 65, 66 Metropolitan areas poverty status of people inside and outside metropolitan areas, 62

599

Notes on the data, 74 Official and NAS-based poverty rates, 67 Poverty population definitions, 71 Race definitions, 70 median income of households, 51 poverty status by race, 57 Sex poverty status of people by sex, 61 Unrelated individuals definitions, 70 Work experience definitions, 72 poor people 16 years and over by work experience, 63 INCOME RECEIPTS AND PAYMENTS Definitions, 178 INCOME SECURITY Definitions, 146 INDEX OF COINCIDENT ECONOMIC NDICATORS Definitions, 32 INDEX OF LAGGING ECONOMIC INDICATORS Definitions, 32 INDEX OF LEADING ECONOMIC INDICATORS Definitions, 32 INDIA Growth rates in real GDP, 286 INDIANA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 INDUSTRIAL PRODUCTION AND CAPACITY UTILIZATION Capacity utilization see CAPACITY UTILIZATION Historical data, 35, 445 Production see PRODUCTION INDUSTRIAL PRODUCTION INDEXES Capacity utilization by NAICS industry groups, 43 Definitions, 46 Industry groups, 40 Market groups, 36 INDUSTRY GROUPS Definitions, 46 INDUSTRY PROFILES Gross domestic product data availability, 315 definitions, 314 GDP by NAICS industry group, 311, 312 GDP by SIC industry group, 310 notes on the data, 314 references, 315 NAICS industry definitions: with rough derivation from SIC, 301 Structure of U.S. industry, 299

600

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

INFLATION INDICATORS Alternative measures of total and core consumer prices, 195 Prices, 1946–2004, 187 INFLOWS Balance on current account and financial inflows, 1960–2004, 155 INSURANCE Unemployed insured, 233 INTEREST PAYMENTS Definitions, 144 INTEREST RATES Definitions, 282 Historical data, 493 Notes on the data, 282 Personal interest income, 86 Selected interest rates and bond yields, 272 INTEREST RECEIPTS Definitions, 143 INTERMEDIATE GOODS AND SERVICES PURCHASED Definitions, 144 INTERNATIONAL COMPARISONS Civilian labor forces, 290 Consumer price indexes, 289 Data availability, 294 Definitions, 293 Exchange rates, 292 Gross domestic product definitions, 293 growth rates in real GDP, 286 real GDP per capita, 287 real GDP per capita, United States and Japan, 1960–2004, 285 real GDP per employed person, 288 References, 294 Unemployment rates, 290 Value of the U.S. dollar, 1973–2004, 291 INTERNATIONAL TRANSACTIONS Balance on current account and financial inflows and outflows, 1960–2004, 155 Definitions, 178 Foreigners’ transactions in long-term securities, 162 Investment position of the U.S. at year-end, 164 Trade balances on goods and services, 1960–2004, 165 U.S. international transactions, 156, 430 INVENTORIES Building materials, 359 Clothing and accessories, 359 Contributions to percent change in real gross domestic product, 6, 7 Corporations inventory valuation adjustment (NAICS basis), 221 inventory valuation adjustment (SIC basis), 219 Department stores, 359 Electronic and electrical equipment, 359 Food and food products, 359 Food services sales, 359 Furniture and home furnishings, 359

General merchandise, 359 Gross domestic product, 4 Manufacturing manufacturers’ inventories, 347 manufacturing and trade sales and inventories, 103 real manufacturing and trade sales and inventories, 104 Motor vehicle sales, 354, 359 Real gross domestic product, 5, 7 Retail inventories, 359 Saving and investment; business sales and inventories generally, 90 inventories to sales ratios, 101 manufacturing and trade sales and inventories, 103 real manufacturing and trade sales and inventories, 104 Wholesale trade, 360 INVENTORIES TO SALES RATIOS Definitions, 109 Historical data, 410 Private nonfarm inventory/sales ratios, 1947–2004, 102 INVESTMENT Federal government chain-type quantity indexes for expenditures and investment, 120, 121 consumption expenditures and gross investment, 116 defense and nondefense consumption expenditures by type, 117 international investment position of the U.S. at year-end, 164 national defense consumption expenditures and gross investment, 118, 120, 121 net investment, 119 Gross government investment, 108 Gross nonresidential fixed investment defined, 109 Gross private domestic investment, 108 Gross private fixed investment by type, 92 Gross private fixed investment defined, 109 National saving, investment, and borrowing, 1946–2004, 89 Real gross private fixed investment by type, 95 Real gross private fixed investment defined, 109 Residential private fixed investment, 109 Saving and investment; business sales and inventories see SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES State and local government chain-type quantity indexes, 127 consumption expenditures and gross investment, 125, 132, 133 net investment, 126 IOWA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 IRELAND Growth rates in real GDP, 286

INDEX

ITALY Consumer price indexes, 289 Growth rates in real GDP, 286 Real GDP per capita, 287 Real GDP per employed person, 288 Unemployment rates, 290 J JAPAN Consumer price indexes, 289 Exchange rates, 292 Growth rates in real GDP, 286 Real GDP per capita, 287 Real GDP per capita, United States and Japan, 1960–2004, 285 Real GDP per employed person, 288 Unemployment rates, 290 JEWELRY Definitions, 88 K KANSAS GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 KENTUCKY GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 KEY SECTOR STATISTICS Definitions, 364 House sales and prices, 341 Housing starts and building permits, 341 Manufacturers’ inventories, 347 Manufacturers’ new orders, 350 Manufacturers’ shipments, 342 Manufacturers’ unfilled orders, 352 Merchant wholesalers, 360 Motor vehicle sales and inventories, 354, 359 New construction put in place, 339 New orders for durable goods, 1959–2004, 337 Petroleum and petroleum products, 338 Receipts of taxable firms, 361 Retail and food services sales, 356 Retail inventories, 359 Revenue by NAICS industry, 1998–2003, 362, 363 Revenue of tax-exempt firms, 361 L LABOR FORCE Historical data, 465 LABOR FORCE PARTICIPATION RATE Definitions, 245 LARGE TIME DEPOSITS Definitions, 276 LEGAL SERVICES Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361

601

LENDING Federal government, 119 State and local government, 126 LIABILITIES Bank credit and selected liabilities, 261 Definitions, 280 Household assets, liabilities, net worth, and financial obligations, 268 Mortgage debt outstanding, 270 LIBRARIES Revenue of tax-exempt firms, 361 LICENSE FEES Definitions, 184 LOCAL GOVERNMENT see STATE AND LOCAL GOVERNMENT LONG-TERM UNEMPLOYED Definitions, 245 LOUISIANA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 LUXEMBOURG Growth rates in real GDP, 286 M MAINE GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MANAGEMENT Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 MANUFACTURING Average weekly hours of production, 326 Capacity utilization: total manufacturing and high-tech, 35, 445 Definitions, 368 Generally, 303 Inventories, manufacturers’ inventories, 347 manufacturing and trade sales and inventories, 103 merchant wholesalers, 360 real manufacturing and trade sales and inventories, 104 Key sector statistics new orders for durable goods, 1959–2002, 285 New orders manufacturers’ new orders, 350 Sales merchant wholesalers, 360 Shipments manufacturers’ shipments, 342 Unfilled orders manufacturers’ unfilled orders, 352 MANUFACTURING AND TRADE INVENTORIES Saving and investment; business sales and inventories, 103

602

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

MANUFACTURING AND TRADE SALES Saving and investment; business sales and inventories, 103 MARKET GROUPS Definitions, 46 Industrial production indexes by market groups, 36 MARKET VALUE Definitions, 181 MARYLAND GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MASSACHUSETTS GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MEAN INCOME Definitions, 71 MEDIAN INCOME AND EARNINGS Income distribution and poverty see INCOME DISTRIBUTION AND POVERTY MEDICAL CARE Consumer prices: all items, 1946–2004, 193 Definitions, 88 MEDICAL CARE INDEX Definitions, 205 MEMBERSHIP ORGANIZATIONS Revenue of tax-exempt firms, 361 MERCHANTS Definitions, 371 Inventories, 360 Sales, 360 METROPOLITAN AREAS Income distribution and poverty poverty status of people inside and outside metropolitan areas, 62 MEXICO Growth rates in real GDP, 286 MICHIGAN GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MIDDLE EAST Growth rates in real GDP, 286 MINNESOTA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MINORITIES Hispanic origin see HISPANIC ORIGIN Race see RACE MISSISSIPPI GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521

MISSOURI GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MONETARY BASE Aggregate reserves of depository institutions and monetary base, 260 Historical data, 485 MONEY AND FINANCIAL MARKETS Aggregate reserves of depository institutions and monetary base, 260 Bond yields, 272 Commercial bank credit and selected liabilities, 261 Common stock prices and yields, 275 Consumer credit, 271 Credit market debt outstanding, 264 Data availability, 277 Definitions, 276 Delinquency rates, 268 Existing house prices, 275 Federal funds rate, 1962–2004, 257 Interest rates, 272 Money stock measures, 258, 259 Mortgage debt outstanding, 270 Notes on the data, 276 Selected components of the money stock, 259 Selected interest rates and bond yields, 272 Treasury securities rate, 1962–2004, 257 MONEY STOCK General data, 258 Historical data, 485 Selected components of the money stock, 259 MONTANA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 MORTGAGES Data availability, 281 Debt outstanding, 270 Definitions, 281 MOTELS Receipts of taxable firms, 361 MOTION PICTURES Receipts of taxable firms, 361 MOTOR VEHICLES Inventories, 354, 359 Sales, 356 MUSEUMS Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 N NAICS Capital expenditures by major industry sectors, 1998–2003, 106 Definitions employment, hours, and earnings, 336

INDEX

industry definitions: with rough derivation from SIC, 301 Employment, hours, and earnings average hourly earnings of production or nonsupervisory workers, 328 average weekly earnings of production or nonsupervisory workers, 330 average weekly hours of production, 326 definitions, 336 indexes of aggregate weekly hours, 332 indexes of aggregate weekly payrolls, 334 net new nonfarm payroll by NAICS industry group, 1990–2004, 317 nonfarm employment by NAICS sector and industry, 318 production or nonsupervisory workers on private payrolls, 324 Industry groups, 40, 43 Introduction to NAICS, 299 Key sector statistics, 359 Manufacturing inventories, 347 new orders, 350 shipments, 342 unfilled orders, 352 Output change by NAICS industry group, 1998–2004, 309 Revenue by NAICS industry, 1998–2003, 362, 363 Service industries revenue, 1998–2003, by NAICS industry, 362, 363 NATIONAL DEFENSE Federal government consumption expenditures and gross investment, 118, 120, 121 NATIONAL INCOME AND PRODUCT AND CYCLICAL INDICATORS Chain-type price indexes for gross domestic product, 9, 402 Chain-type quantity indexes for gross domestic product, 8, 398 Composite indexes of economic activity and selected index components, 12 Corporations gross and net value added of domestic corporate business, 21 gross value added of nonfinancial domestic corporate business, 22 Data availability, 30, 33 Definitions generally, 23 Factor income by type, 1948 and 2004, 13 Final sales, 10 Generally, 3 Gross and net national product and national income, 14 Gross domestic product, 4 Income and value added, 13 Index of coincident economic indicators, 32 Index of lagging economic indicators, 32

603

Index of leading economic indicators, 32 National income and product accounts, 1929–1948, 378 NIPA data on real output, prices, and employment, 1929–1948, 380 Nonfinancial corporate business, 22 Notes on the data, 33 Output per capita, 3 Per capita product and income and population, 11 Real gross domestic product, 5 References, 30, 33 Type of income, 19 NATURAL GAS Energy supply and consumption, 254 NEBRASKA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NET EXPORTS OF GOODS AND SERVICES Definitions, 25 NETHERLANDS Growth rate in real GDP, 286 NET INTEREST Definitions, 27 NET INVESTMENT Federal government, 119 State and local government, 126 NET LENDING OR BORROWING Definitions, 108, 177 NET NATIONAL PRODUCT Definitions, 24 Gross and net national product and national income, 14 NET OPERATING SURPLUS Definitions, 27 NET SAVING Definitions, 144 NET WORTH Definitions, 280 NEVADA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NEW HAMPSHIRE GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NEW JERSEY GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NEW MEXICO GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NEW ORDERS Manufacturers’ new orders, 350 NEW YORK GDP by region and state, 516 Median income and poverty rates by state, 69

604

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Personal income and employment, 521 NONDURABLE GOODS Definitions, 87 Per capita product and income and population, 11 NONRESIDENTIAL EQUIPMENT AND SOFTWARE Definitions, 25, 109 NONRESIDENTIAL FIXED INVESTMENT Definitions, 25 NONRESIDENTIAL STRUCTURES Definitions, 25, 109 NORTH CAROLINA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NORTH DAKOTA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 NUCLEAR POWER Energy supply and consumption, 254 O OHIO GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 OIL AND GAS Domestic production, 338 Energy supply and consumption, 254 Imports, 338 Stocks, 338 OKLAHOMA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ON-BUDGET AND OFF-BUDGET Definitions, 146 ORDERS Manufacturers’ new orders, 350 Unfilled orders, 352 OREGON GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ORGANIZATION OF PETROLEUM EXPORTING COUNTRIES (OPEC) Definitions, 185 OUTFLOWS Balance on current account and financial outflows, 1960–2004, 155 OUTLAYS Definitions, 146 Federal government receipts and outlays by fiscal year, 135 OUTLAYS BY FUNCTION Definitions, 146 OUTPUT Change by NAICS industry group, 1998–2004, 309

Definitions, 144 Federal government, 119 Producer price indexes for the net output of selected NAICS groups, 202 State and local government, 126 OUTPUT PER CAPITA National income and product and cyclical indicators, 3 Selected annual data, 1929–1948, 375 OVERTIME HOURS Definitions, 250 P PASSENGER FARES Definitions, 183 PENNSYLVANIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 PERSONAL BUSINESS Definitions, 88 PERSONAL CARE Definitions, 88 PERSONAL CONSUMPTION EXPENDITURES Chain-type price indexes, 9 Chain-type quantity indexes, 8 Current dollars, constant dollars, and price indexes, 78 Definitions, 24, 87 Gross domestic product, 4 Real gross domestic product, 5 Type of expenditure, 83, 84 Type of product, 79, 81 PERSONAL INCOME Composite indexes economic activity and selected index components, 12 Definitions, 85 Historical data, 76, 406 Ratio of household debt service to personal income, 1980–2004, 267 State and regional data, 521 PERSONAL INCOME RECEIPTS ON ASSETS Definitions, 86 PERSONAL SAVING Definitions, 108 Saving rate, 1946–2004, 75 PERSONAL SERVICES Receipts of taxable firms, 361 PETROLEUM AND PETROLEUM PRODUCTS Definitions, 364 Domestic production, 338 Energy supply and consumption, 254 Imports, 338 Sales, 356 Stocks, 338 PORTUGAL Growth rates in real GDP, 286 POVERTY Age status of people by age, 61 total rates for children and seniors, 55

INDEX

Alternative definitions of income, 65, 66 Comparison of NAS-based and official poverty rates, 68 Data availability, 74 Definitions, 71 Families average poverty thresholds by family size, 56 status by type of family, 57 Hispanic origin status by Hispanic origin, 57 Income distribution and poverty see INCOME DISTRIBUTION AND POVERTY Median income and earnings income and poverty rates by state, 69 poverty rates for persons based on alternative definitions of income, 65, 66 Metropolitan areas status of people inside and outside of, 62 Notes on the data, 74 Official and NAS-based poverty rates, 67 Poor people 16 years and over by work experience, 63 Race status by race, 57 Sex status of people by sex, 61 Total rates for children and seniors, 55 POVERTY POPULATION Definitions, 71 POVERTY THRESHOLDS Definitions, 71 PRICES Alternative measures of total and core consumer prices index levels, 194 inflation rates, 195 Consumer price indexes, 188 Consumer prices: all items, 1946–2004, 193 Data availability, 208 Definitions, 205 Energy consumption and prices, 1949–2004, 253 Farmers prices received and paid by farmers, 203 House sales and prices, 341 Inflation indicators, 1946–2004, 187 NIPA data on real output, prices, and employment, 1929–1948, 380 Notes on data, 208 Petroleum and petroleum products, 338 Price and production indexes and labor force data, 384 Producer price indexes and purchasing power of the dollar, 196 Producer price indexes by major commodity groups, 201 Producer price indexes for net output of NAICS industry groups, 202 Purchasing power of the dollar, 196 References, 209 U.S. export and import price indexes, 176

605

PRIVATE CAPITAL CONSUMPTION ADJUSTMENT Definitions, 29 PRIVATE CAPITAL CONSUMPTION ALLOWANCES Definitions, 29 PRIVATE FIXED INVESTMENT Definitions, 24 PRIVATE INDUSTRY Changes in wages and salaries and in benefit costs private industry, 1980–2004, 211 PRIVATE INDUSTRY WORKERS Definitions, 223 PRIVATE INVESTMENT Chain-type price indexes for gross domestic product, 9, 402 Chain-type quantity indexes for gross domestic product, 8, 398 Definitions, 25 Gross nonresidential fixed investment, 109 Gross private domestic investment, 108 Gross private fixed investment, 109 Private fixed investment by type, 1948 and 2004, 94 Real gross private fixed investment, 109 Residential private fixed investment, 109 PRIVATE TRANSPORTATION INDEX Definitions, 205 PRODUCER PRICE INDEXES Commodity groups, 201 Data availability, 207 Definitions, 208 Historical data, 455 Net output of selected NAICS industry groups, 202 Notes on data, 208 Purchasing power of the dollar, 196 References, 207 Summary consumer and producer price indexes, 455 PRODUCER PRICES see PRICES PRODUCT AND INCOME BY INDUSTRY Data availability, 315 Definitions, 314 Gross domestic product value added by NAICS industry group, 311, 312 value added by SIC industry group, 310 Notes on the data, 314 Output change by NAICS industry group, 1998–2004, 309 References, 315 PRODUCT INDICATORS National income and product and cyclical indicators, 3 PRODUCTION Data availability, 47 Definitions, 46 Figures for productivity and related data, 84 Generally, 35, 445 Historical data, 445 Indexes by market groups, 36

606

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Indexes by NAICS industry groups, 40 Industrial production and capacity utilization, 35, 445 NAICS industry groups, 43 Notes on the data, 46 References, 47 Revisions, 47 PRODUCTIVITY Data availability, 225 Definitions, 224 Employment costs, productivity, and profits see EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS Historical data, 436 Notes on the data, 224 References, 225 Revisions, 225 PROFITS Corporations corporate profits with IVA by major sector, 1948–2004, 218 definitions, 28 inventory valuation adjustment (NAICS basis), 221 inventory valuation adjustment (SIC basis), 219 Employment costs, productivity, and profits see EMPLOYMENT COSTS, PRODUCTIVITY, AND PROFITS PROFITS AFTER TAX Definitions, 29 PUBLIC ORDER AND SAFETY Definitions, 145 PURCHASING POWER OF THE DOLLAR Generally, 196 Q QUANTITY INDEXES Definitions, 581 QUINTILES Definitions, 71 R RACE Income distribution and poverty definitions, 70 median income of households, 51 poverty status by race, 57 REAL ESTATE Receipts of taxable firms, 361 REAL GROSS DOMESTIC PRODUCT Chain-type price indexes, 9 Chain-type quantity indexes, 8 Composite indexes economic activity and selected index components, 12 Contributions to percent change in real gross domestic product, 6, 7, 394 Current-dollar and real GDP, 1946–2004, 6 Difference between GNP and GDP, 16 Domestic income of corporate business, 21, 22

Energy consumption per dollar of real gross domestic product, 255 Final sales, 10 Growth rates in real GDP, 286 Historical data, 5, 7, 393, 394 Income gross domestic income by type of income, 17 national income by type of income, 19 relation of GDP and income, 14 International comparisons: real GDP per capita, 287 International comparisons: real GDP per employed person, 288 Per capita product and income and population, 11 Percent change in real gross domestic product, 6, 7 Relation of GDP and personal income, 14 REAL GROSS PRIVATE FIXED INVESTMENT BY TYPE Data, 95 REAL GROSS PRIVATE INVESTMENT Definitions, 109 REAL OR CHAINED DOLLAR ESTIMATES Definitions, 25 RECEIPTS AND EXPENDITURES Capital expenditures, 1996–2003, 105 Capital expenditures for companies by NAICS industry sector, 1998–2003, 106 Definitions, 144 Federal government consumption expenditures and gross investment, 116 current receipts and expenditures, 114, 414 data availability, 146 debt by fiscal year, 138 defense and nondefense consumption expenditures by type, 117 national defense consumption expenditures and gross investment, 118, 120, 121 receipts and outlays by fiscal year, 135 references, 146 Foreign trade and finance receipts, payments, and balance on current account, 1946–2004, 149 Personal consumption expenditures see PERSONAL CONSUMPTION EXPENDITURES Service industries receipts of taxable firms, 361 State and local government chain-type quantity indexes, 127 consumption expenditures and gross investment, 125, 132, 133 current receipts and expenditures, 123, 128, 130 receipts and expenditures, 122, 422 RECREATION Definitions, 88, 205 Revenue of tax-exempt firms, 361 REGIONAL DATA Data availability and references, 581 Definitions, 581

INDEX

Gross domestic product, 516 Per capita personal income, 1958–2004, 515 Personal income and employment annual data, 521 RELIGIOUS ACTIVITIES Definitions, 88 RENTAL INCOME OF PERSONS Definitions, 28, 85 RENTS Definitions, 143 REPAYMENTS ON U.S. CREDITS Definitions, 180 REPURCHASE AGREEMENTS Definitions, 276 REQUIRED RESERVES Definitions, 277 RESEARCH Definitions, 88 Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 RESERVES Historical data, 485 RESIDENTIAL PRIVATE FIXED INVESTMENT Definitions, 25, 109 RESTAURANTS Food services sales, 356 RETAIL TRADE Definitions, 370 Inventories, 359 Sales, 356 RHODE ISLAND GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 ROYALTIES Definitions, 143, 184 RUSSIA Growth rates in real GDP, 286 S SALARIES see WAGES AND SALARIES SALES Building materials, 356 Clothing, 356 Department stores, 356 Electronics and appliances, 356 Final sales, 10 Furniture and home furnishings, 356 Gasoline, 356 General merchandise, 356 Health and personal care, 356 Inventories to sales ratios, 410 Merchant wholesalers, 360 Motor vehicles, 356 Petroleum products, 356 Private nonfarm inventory/sales ratios, 1947–2004, 102 Retail and food services sales, 356 Saving and investment; business sales and inventories

607

inventories to sales ratios, 101 manufacturing and trade sales and inventories, 103 real manufacturing and trade sales, 104 Wholesale trade, 360 SAVING Federal government saving and dis-saving, 1946–2004, 113 National saving, investment, and borrowing, 1946–2004, 89 Personal saving rate, 1946–2004, 75 SAVING AND INVESTMENT; BUSINESS SALES AND INVENTORIES Assets chain-type quantity indexes for net stock of fixed assets, 100 current-cost net stock of fixed assets, 99 Capital account transactions, 108 Capital expenditures 1996–2002, 103 companies with employees, by NAICS industry sector, 1998–2003, 106 Chain-type quantity indexes net stock of fixed assets, 100 private fixed investment by type, 97 Consumption of fixed capital, 108 Data availability, 110 Definitions, 108, 109 Expenditures capital expenditures, 1996–2003, 105 companies with employees by major NAICS industry sector, 1998–2003, 106 Fixed assets chain-type quantity indexes for net stock of fixed assets, 100 current-cost net stock, 99 Generally, 90 Government net saving, 108 Gross government investment, 108 Gross national income, 109 Gross nonresidential fixed investment, 109 Gross private domestic investment, 108 Gross private fixed investment by type, 92 Gross private fixed investment defined, 109 Gross saving, 108 Inventories to sales ratios, 101 Manufacturing and trade sales and inventories, 103 National saving, investment, and borrowing, 1946–2004, 89 Net lending or borrowing, 108 Nonresidential equipment and software, 109 Nonresidential structures, 109 Personal saving, 108 Personal saving rate, 1946–2004, 75 Private fixed investment by type, 1948 and 2004, 94 Private nonfarm inventory/sales ratios, 1947–2004, 102 Real gross private fixed investment by type, 95 Real gross private investment, 109

608

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Real manufacturing and trade sales and inventories, 104 References, 110 Residential private fixed investment, 109 Sales inventories to sales ratios, 101 manufacturing and trade sales and inventories, 103 real manufacturing and trade sales, 104 Saving and investment generally, 90 Undistributed profits, 108 SAVINGS DEPOSITS Definitions, 276 SEASONAL ADJUSTMENT Definitions, 250 SECURITIES Foreigners’ transactions in long-term securities, 162 SELECTED ANNUAL DATA Definitions, 387 Employment, 1929–1948, 377 Federal budget, 1929–1948, 386 Fixed assets current-cost values and quantity indexes, 1929–1948, 382 National income and product accounts, 1929–1948, 378 NIPA data on real output, prices, and employment, 380 Output per capita, 1929–1948, 375 Price and production indexes and labor force data, 384 SENIORS Poverty rates for seniors, 55 SERVICE INDUSTRIES E-commerce, 363 NAICS revenue, 1998–2003, by NAICS industry, 362, 363 Receipts and expenditures receipts of taxable firms, 361 Revenue of selected industries, 1998–2003, 362, 363 Revenue of tax-exempt firms, 361 SERVICES Chain-type quantity indexes for exports and imports of services, 151 Definitions, 87, 183 Foreign trade balances on services, 1960–2004, 165 Per capita product and income and population, 11 U.S. exports of services, 166, 174 U.S. imports of services, 166, 175 SEX Income distribution and poverty poverty status of people by sex, 61 SHIPMENTS Manufacturers’ shipments, 342 SMALL TIME DEPOSITS Definitions, 276 SOCIAL SECURITY Debt held by Social Security funds, 147 SOCIAL SERVICES Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361

SOFTWARE Definitions, 25 SOURCES OF FINANCING Definitions, 146 SOUTH CAROLINA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 SOUTH DAKOTA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 SPAIN Growth rates in real GDP, 286 SPENDING Consumer income and spending disposition of personal income, 76 personal consumption expenditures by major type of product, 79 personal consumption expenditures by type of expenditure, 83, 84 personal income and its disposition, 76 STANDARD AND POOR’S Composite price index and OFHEO house price index, 1975–2004, 274 STATE AND LOCAL GOVERNMENT Borrowing, 126 Chain-type quantity indexes consumption expenditures and gross investment, 127 Current receipts and expenditures, 122, 422 Definitions, 142 Employment, 139, 141 Investment consumption expenditures and gross investment, 125, 132, 133 Lending, 126 Net investment, 126 Output, 126 Receipts and expenditures chain-type quantity indexes, 127 consumption expenditures and gross investment, 125, 132, 133 current receipts and expenditures, 123, 128, 130 receipts and expenditures, 122, 422 STATE DATA Data availability and references, 581 Definitions, 581 Gross domestic product, 516 Income and poverty median income and poverty rates by state, 69 Per capita personal income, 1958–2004, 515 Personal income and employment annual data, 521 STOCK PRICE INDEXES Historical data, 493 STOCKS AND BONDS Common stock prices and yields, 275 Definitions, 282

INDEX

Notes on the data, 282 Personal dividend income, 86 Selected interest rates and bond yields, 272 SUBSIDIES Definitions, 27, 144 T TENNESSEE GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 TEXAS GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 TOBACCO Definitions, 88 TOTAL CONSUMPTION EXPENDITURES Definitions, 146 TOTAL RESERVES Definitions, 277 TOTAL SURPLUS Definitions, 146 TRADE Foreign trade and finance see FOREIGN TRADE AND FINANCE TRADE BALANCES Foreign trade balances on goods and services, 1960–2004, 165 TRANSPORTATION Definitions, 88 Receipts of taxable firms, 361 TRAVEL Definitions, 183 U U.S. FOREIGN TRADE AND FINANCE see FOREIGN TRADE AND FINANCE UNDISTRIBUTED OFFSETTING RECEIPTS Definitions, 146 UNDISTRIBUTED PROFITS Definitions, 29, 108 UNEMPLOYMENT RATES Civilian unemployment data, 1948–2004, 227 general data, 230–233 Definitions, 245 Historical data, 465 Insured unemployment, 233 International comparisons, 290 Rates of unemployment, 230–233 UNFILLED ORDERS Manufacturing manufacturers’ unfilled orders, 352 UNITED KINGDOM Consumer price indexes, 289 Exchange rates, 292 Growth rates in real GDP, 286 Real GDP per capita, 287

Real GDP per employed person, 288 Unemployment rates, 290 UNITED STATES Consumer price indexes, 289 International transactions, 156, 430 Median income and poverty rates by state, 69 Real GDP per capita, 287 Real GDP per capita, United States and Japan, 1960–2004, 285 Real GDP per employed person, 288 Unemployment rates, 290 UTAH GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 V VALUE ADDED Definitions, 144 VERMONT GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 VIRGINIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 VOCATIONAL SCHOOLS Receipts of taxable firms, 361 Revenue of tax-exempt firms, 361 W WAGES AND SALARIES Average hourly earnings, 241, 328 Average weekly earnings, 242, 330 Changes in wages and salaries and in benefit costs private industry, 1980–2004, 211 Data availability, 223 Definitions, 27 Disbursements defined, 85 Employment cost indexes, 213 total compensation, 212 Families shares of aggregate income received, 54 Gross domestic income defined, 23 type of income, 17 Household income median and mean household income, 49, 50 median income by type of family, 52 median income of households by race and Hispanic origin, 51 shares of aggregate income received, 53 Indexes of aggregate weekly hours, 240, 332 Indexes of aggregate weekly payrolls, 334 National income by type of income, 19 Nonfarm payroll employment by NAICS supersector, 235, 318

609

610

BUSINESS STATISTICS OF THE UNITED STATES (BERNAN PRESS)

Nonfarm payroll employment, hours, and earnings, 475 Per capita personal income, 1958–2004, 515 Per capita product and income and population, 11 WASHINGTON GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 WELFARE ACTIVITIES Definitions, 88 WEST VIRGINIA GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 WHOLESALE TRADE Definitions, 371 Inventories, 360 Sales, 360

WISCONSIN GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521 WORK EXPERIENCE Definitions, 72 Income distribution and poverty poor people 16 years and over by work experience, 63 WYOMING GDP by region and state, 516 Median income and poverty rates by state, 69 Personal income and employment, 521