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DECEMBER 1961
survey of
CURRENTBUSINESS
U.S. DEPARTMENT OF COMMERCE
OFFICE OF BUSINESS ECONOMICS
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS
DECEMBER 1961 VOL. 41, NO. 12
ContentsBUSINESS REVIEW PAGE
Summary « • . . • . . . . « . . . . . . . . . . . . . . . . . < , . . . . . . . . . . . . . < . . 1
Trend of Investment • * 2
EXPANSION IN PLANT AND EQUIPMENT—To continue into 1962....... 3
MANUFACTURERS EXPECT HIGHER SALES AND INVENTORIES—in
early 1962 7
ADVANCE IN HOUSING CONSTRUCTION............................... 9
PATTERN OF RETIREMENT AND OTHER TRANSFER INCOME FLOW.. II
CORPORATE PROFITS AND NATIONAL INCOME 13
SPECIAL ARTICLE
Recent Developments in International Trade and Invest-ments
Third Quarter Balance of International Payments. . . . . . . . . . . . . . . . . . . . . . 15
Rise in Merchandise Imports » * . . * , « 15
Exports Remain H i g h . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18
Private Capital M o v e m e n t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 19
Other Long-Term I n v e s t m e n t s . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
REVISED STATISTICAL SERIES
Inventories of Retail Stores 24
MONTHLY BUSINESS STATISTICS
General... S1-S24
Industry . . . . . . . . . . . . . . . . . . . . . . . . . . . . S24-S40
Suhjeet Index Inside Back Cover
U.S. Department of Commerce
Luther H. HodgesSecretary
Office of Business Economics
M. Joseph Meehandirector
Louis J. ParadisoManaging Director
Murray F. FossEditor
K. Celeste Stok
Statistics Edito
Billy Jo Dawkins
Graphics
STAFF CONTRIBUTORSTO THIS ISSUE
Business Review and Features:Genevieve B. Wimsatt
Marie P. HertzbergLeonard G. Campbell
L. Jav AtkinsonFrank L. LewisJaequelin Bauman
Article:Walther LedererSamuel PizerJohn B. Boddie, Jr.Max Lechter
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U.S. DEPARTMENT OF COMMERCE FIELD OFFICES
Albuquerque, N. Mex., U.S. Courthouse.OHapel 7-0311.
Atlanta 3, Ga., Home Savings Bldg., 75 Forsythe St.,NW JAckson 2-4121.
Boston 10, Mass., Room 230, 80 Federal St. CApitol3-2312.
Buffalo 3, N.Y., 504 Federal Bldg., 117 Ellicott St.TL 3-4216.
Charleston 4, S.C., Area 2, Sergeant Jasper Bldg., WestEnd Broad St. 722-6551.
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CApitol 2-7201.Jacksonville 1, Fla., 425 Federal Bldg. ELgin 4-7111.Kansas City 6, Mo., Room 2011, 911 Walnut St. BAlti-
more 1-7000.Los Angeles 15, Calif., Room 450, 1031 S. Broadway.
Richmond 9-4711.Memphis 3, Tenn., 212 Falls Bldg. JAckson 6-3426.Miami 32, Fla., 14 NE. First Avenue. FRanklin 7-25S1.Minneapolis 1, Minn., Room 304, New Federal Bldg.
339-0112
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W Alnut 3-2400.Phoenix 25, Ariz., 230 N. First Ave. Phone 261-3285.Pittsburgh 22, Pa., 355 Fifth Ave. GRant 1-0800.Portland 4, Oreg., 217 Old U.S. Courthouse Bldg.
CApital 6-3361.Reno, Nev., 1479 Wells Ave. Phone 2-7133.Richmond 19, Va., Parcel Post Bldg. Milton 4-9471.St. Louis 3, Mo., 2511 Federal Bldg. MAin 1-8100.Salt Lake City 1, Utah, 222 SW. Temple St. DAviS
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A Dams 2-4755.Seattle 4, Wash., 809 Federal Office Bldg., 909 First Ave.
AlUtual 2-3300.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
By Office of Business Economies
uauon
J\_ MARKED rise in consumer pur-chasing featured the expansion inbusiness activity and total output latein 1961. The fourth quarter advancein GNP is comparable in magnitude tothe gains made last spring and increasesare now more widespread. The rise inoutput in the current quarter reflectsmainly higher final purchases ratherthan the effects of changing inventorypolicy, which were prominent in theinitial upsurge.
Activity in November and earlyDecember resulted in increased employ-ment and income, and for the first timein the current recovery there was anoteworthy reduction in the rate ofunemployment.
Retail buying spurts
The most buoyant area of demandat the present time is consumer buyingat retail, which, only a short time ago,was exhibiting a sluggish tendencyrelative to increases in personal income.On a seasonally adjusted basis retailstore sales in November were 3 percentabove those in October. Like theprevious month, the latest gain reflecteda substantial increase in automobilepurchases, though virtually all lines oftrade shared in the November rise.Nondurable goods were up 2 percentfrom October and durables other thanautomobiles were also higher.
With data for 2 months of the quarteralready available, and preliminary indi-cations of good holiday buying, it isclear that retail sales in the final quarterof the year will represent not merely asizable increase over the third but arecord volume. Seasonally adjustedfourth quarter sales already averagealmost $19 billion per month as against$18.1 billion in the third quarter and$18.3 billion in the fourth quarter of
TOTAL RETAIL SALES
1960. The more pronounced gains overthe July-September period are in dur-able goods, with a 10 percent advance;nondurables are up by almost 2 percentover the average for the summer months.
Consumer purchases of automobileshave been vigorous ever since the new1962 models became generally availablelate in September. Sales in the firstfull month of the current model year—October—were better than any previousmonth of 1961 and November sales
RETAIL TRADE Picks Up With IncomeAcceleration
Billion $
20
19
18
17
16
5
4
3
2
1947180
160
140
120
100
Consumers React Favorably to NewAUTOMOBILES This Fall
AUTOMOTIVE GROUP SALES
Preholiday Buying in DEPARTMENTSTORES Reflects Freer Spending
-49=100
DEPARTMENT STORE SALES
I I I I I I I I I I 11 I M I I I I I 1 I I I I I I I I 11 I 11 I I t I I
1959 1960 1961 1962Monthly, Seasonally Adjusted
Data: Census, FRB, & OBE
U.S. Department of Commerce, Office of Business Economics 61-12-1
were even higher. Last month dealerssold 585,000 ears, for the best Novem-ber on record.
This improved demand, combinedwith relatively low inventories indealers7 hands, and a strike-free monthfor the first time since August, liftedpassenger car assemblies in Novemberto approximately 650,000 units, thehighest monthly total since the firstquarter of 1960. Though in excess ofsales, the difference is less than iscustomary at this time of the year;thus on a seasonally adjusted basisthere has been little advance in dealers'stocks since the beginning of the fourthquarter. End-of-November inventories,were more than }{ million below theyear-ago total. In view of the strongsales pace it now appears that the ex-pected fourth quarter buildup in dealers'automobile stocks will be delayed untilthe early part of next year, a factorwhich is favorable for near-term pro-duction prospects.
Installment credit advance
The most recent data on consumerinstallment credit are also indicative ofthe freer purchasing of durables byconsumers and their willingness to gointo debt on this account. Consumerinstallment credit at the end of Octoberrose by almost $200 million over themonth, after seasonal adjustment, thelargest advance of the year. ThroughSeptember there had been no evidencein 1961 of a rise in credit outstanding,as consumers placed somewhat greateremphasis on debt repayment than onnew debt acquisitions. The improve-ment in durable goods sales in thesecond quarter had brought about aleveling out in installment credit fol-lowing the rather sharp drop in thefirst quarter; but the summer months
1Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS December 1961
witnessed a slightly downward move-ment as consumers slowed their pur-chases of durables.
Table 1.—Changes in Consumer InstallmentCredit Outstanding, Seasonally Adjusted,Monthly Average l
[Millions of dollars]
I9601st quarter..2d quarter.,.3d quarter...4th quarter.^
1st quarter. _2d quarter...3d quarter. ..October
Total
409429179126
-88-4
-41184
Auto-mobilepaper
1831873832
-129-78
-10869
Othercon-
sumergoodspaper
981041034
77
-122
Repairand
mod-erniza-
tionloans
233320-1
-1055
-12
Per-sonalloans
10510511161
446263
105
1 Seasonally adjusted changes in outstanding credit de-rived by subtracting credit repaid from credit extended.
Source: Board of Governors of the Federal Reserve System.
Prominent in the October credit de-velopments was the reversal in thedownward trend of automobile paper,which rose by $70 million, after showingreductions for 10 consecutive months.(See table 1.) With the sharp increasein automobile buying, an accelerationof the credit increase may be expected.
There was also a noticeable rise inother consumer goods paper, and anincrease in personal loans, which hadbeen moving generally upward sincethe early part of the year.
Purchasing power rising
Personal income advanced sharplyagain in November to a seasonally ad-justed annual rate of $429 billion, $4billion more than October. Since theFebruary trough the rise has been morethan $25 billion.
The gains for the month were con-centrated in manufacturing payrolls,notably transportation equipment andin government, the latter reflectingprimarily higher Federal military, andState and local payrolls. On balancethere was little change in private pay-rolls other than manufacturing. Farmincome was up over the month andthere were small rises in dividends andnonfarm proprietors' income.
The $2.4 billion increase in labor in-come from October to November re-flected gains in nonfarm employment,
hours and rates of pay. The advancein manufacturing employment was thebest since June and centered in durablegoods, mainly because of rising auto-mobile production schedules. An im-portant factor in the rise in manufac-turing payrolls was the increase inweekly hours—from 40.2 to 40.6, sea-sonally adjusted. While there was asharp gain in hours in the transpor-tation equipment industry smaller ad-vances were prevalent among a majorityof manufacturing groups. The Novem-ber improvement brought manufactur-ing hours of work to the highest pointsince mid-1959.
Though manufacturing employmentis now showing its first gain over year-ago levels, it is not yet back to thepeak reached in the spring of 1960.Durable goods employment is still some4 percent below, with decreases mostpronounced in primary metals, trans-portation equipment and machinery.
Unemployment situation improves
After remaining in the neighborhoodof almost 7 percent since last December,the seasonally adjusted unemploymentrate showed a distinct improvement inNovember, falling to approximately 6percent. A lag of unemploymentbehind recoveries in activity has oc-curred in each of the previous postwarupturns. This year, there has been asomewhat longer lapse of time betweenthe cyclical low point in activity andthe initial marked decline in the un-employment rate. The longest previ-ous interval was the 6 months followingthe upturn in 1958.
Trend of Investment
Total gross private domestic invest-ment has shown a sharp recovery, afterfalling from an annual rate of $80billion in the first quarter of 1960 to$60 billion in the first quarter of 1961.The earlier high was marked by theheavy rebuilding of inventories thatfollowed the end of the 1959 steel strike.
The aggregate is now back to a ratein excess of $75 billion, with the inven-tory turnaround a major factor in theincrease. Up to this point in thecurrent expansion, fixed investment,which includes plant and equipment
expenditures and residential construe"tion, has recorded a moderate improve-ment, from a seasonally adjusted annualrate of $64 billion to more than $70billion in the closing months of the year.Residential construction has been inthe forefront of this advance. Itreached a low in the opening quarter of1961, but by the fourth quarter wasrunning at a seasonally adjusted annualrate that was $4 billion or 20 percenthigher. The smaller share of thisyear's rise accounted for by business
INVESTMENT OUTLAYS Are Recovering FromEarly 1961 Low
Billion -$
100
80
60
40
GROSS PRIVATEDOMESTIC INVESTMENT
I . , I ,
PLANT OUTLAYS Turn Around in Second HalfIncrease Scheduled for Early 1962
60
40
20
TOTAL PLANT AND EQUIPMENTEXPENDITURES
O Anticipatedi I t l i 1 l l I
HOMEBUILDING Has Been Moving Up SinceEarly This Year
40
20
NONFARM RESIDENTIALCONSTRUCTION
I I
INVENTORY Accumulation Extends IntoFourth Quarter
20
-20
CHANGE IN MANUFACTURING AND TRADEINVENTORIES
Book Value, end of Quarter
l i i 1 l I i I I
1959 1960 1961* 1962Quarterly, Seasonally Adjusted at Annual Rates
Data: SEC, Census, & QBE
*Fourth Quarter, Preliminary Estimate
U.S. Department of Commerce, Office of Business Economics 61-12-2
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS
plant and equipment expenditures re-flects the upturn in such outlays aroundmidyear and the small advances sincethen.
Fixed investment low relative to GNP
Fixed investment in 1961 appearsrelatively lower than in any otherpostwar year, averaging less than 13percent of GNP on a current dollarbasis. In the years 1958-60, this ratioranged from 13 to 14 percent, as againstan average of more than 14 percent forthe earlier postwar years, when profitswere relatively higher and demand andother influences generally more favor-able.
Most of the diminishing relativeimportance is attributable to plant andequipment investment, where excesscapacity has been comparatively com-mon since the 1958 downturn and hasconsequently dampened the two re-coveries in investment since then.Housing is now relatively more impor-tant than it was in the early postwarperiod but it is currently well belowits relative importance in 1955 and1959, which were both years of highresidential construction activity.
Near term prospects
Very near term prospects for in-vestment are favorable in view of theimprovement in profits, general mone-tary ease, and rising incomes anddemand. It is of interest, however,that during postwar expansions of totaloutput, periods of increasing real in-vestment, including inventories, havebeen comparatively brief. Since 1949the range has been from four to sixquarters, or considerably less than thelength of expansion periods.
The reasons for this lack of sustainedadvance in investment during the re-covery and expansion are related inpart to the character of inventoryinvestment, which may swing from onedirection to another rather quickly,and to the competing demands forfunds that develop during the expan-sion. Thus increases in inventory in-vestment tend to be largest—asidefrom strike periods—around the bottomturning points in total business activity,when inventory liquidation is slowing
down or giving way to inventoryincrease. While inventories continueto rise, such investment tends toincrease less rapidly and then becomesnegative as inventories are reduced.
Plant and equipment expenditureshave usually lagged the upturn inactivity, while housing has shown amore autonomous character in postwar
cycles, particularly since it has re-ceived special treatment by the Gov-ernment. However, housing has showna sensitivity to the tightening of moneythat has developed in the middle ofpast expansions, as rising demandsfor new plant and equipment and in-ventories have put pressure on thesupply of funds.
Expansion in Plant and Equipment To Continue Into 1962
BUSINESS has programed increasingexpenditures for new plant and equip-ment in the current quarter and in theopening 3 months of 1962, after seasonaladjustment. Plans reported by busi-nessmen in the latest quarterly survey,conducted jointly by the Departmentof Commerce and the Securities andExchange Commission, anticipate cap-ital outlays at an annual rate of almost$36 billion after seasonal adjustmentduring the final 3 months of 1961, a3% percent rise from the actual rate of$34.7 billion in the third quarter. Thefirst quarter 1962 projection is at aseasonally adjusted annual rate of$36% billion, back to the spring 1960cyclical high, and 6 percent aboveestimated outlays for 1961 as a whole.
Prompt turnaround
The survey data place the cyclicallow in business fixed investment at arate of $33K billion in the secondquarter of 1961; the low occurred justone quarter after the trough in grossnational product. As can be seen inthe chart, this represents an unusuallyfast response of capital outlays to anupturn in business activity. The in-vestment low in nondurable goodsmanufacturing coincided with the 1961GNP trough, while investment by themore volatile industries—durable goodsmanufacturing and the railroads—showed typically longer-than-averagelags.
The expected relative increase overthe first four quarters following the1961 GNP trough exceeds that in the1949-50 and 1958-59 recoveries, a
result attributable primarily to themore prompt turnaround. However,in the 1954-55 period the plant andequipment expansion was relativelylarger four quarters after the GNPtrough was reached than is indicatedin this cycle.
The realization of first quarter 1962expectations would mean a 8 percentincrease from the first quarter of 1961,the GNP trough. This is a largerrelative increase than occurred in thefirst four quarters of recovery in 1949-50 and 1958-59, mainly because of themore prompt turnaround in investment,though it is relatively less than in1954-55.
PLANT AND EQUIPMENT EXPENDITURES:CYCLICAL COMPARISONS
• Upturn Has Been More Prompt in theCurrent Cycle
• Programed Investment Back to 1960 High
Index*
120
100
80
OAnticipated
I I I J I J_
- 4 - 3 - 2 - 1 0 1 2 3 4
Quarters from GNP Trough
*For each cycle investment in quarter of GNP troughequals 700.
Data: SEC & QBE
U.S. Department of Commerce, Office of Business Economics 61-12-5Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS December 1961
The rise now underway followed amild downturn from a peak which hadfailed to reach the previous (1957) high.Outlays in the 1959-60 expansion hadrepresented a declining percentage ofgross national product. Expendituresfor new plant and equipment since 1958
Table 2.—Changes in Capital Outlays inRecent Contraction and First 9 Months ofRecovery 1
All business
Manufacturing
Mining __
Railroads . _ _.. _
Transportation, other thanrailroad
Public utilities
Commercial and other
Percentage change inplant and equipmentexpenditures
1960 secondquarter to1961 second
quarter
-8
-8
-6
-37
-17
-4
-5
1961 secondquarter to1962 firstquarter 2
9
8
1
3
0
I
17
1. In the 1960-61 cycle, the high occurred in the secondquarter of 1960, seasonally adjusted, and the low in the secondquarter of 1961.
2. Anticipated.Source: U.S. Department of Commerce, Office of Business
Economics and Securities and Exchange Commission.
have been substantially lower thanwould have been the case had historicalrelationships with gross national prod-uct, or with profits and cash flow—i.e.,retained earnings plus depreciation—continued to prevail. Thus, there hasbeen a noteworthy shift.
Key factors retarding investment inrecent years have been the relativelylow utilization of capacity, which hadbeen greatly enlarged during the 1955-57 investment boom and built up moreslowly since 1957, and reduced profitmargins. Rising activity this year hasgenerally resulted in a more intensiveuse of existing capacity, although pro-ductive facilities in most areas are stillmore than adequate to meet currentdemands. On the other hand, theuptrend in corporate profits, sales andnew orders, as well as rising costs, areprime considerations in businessmen'sappraisal of near-term plant and equip-ment programs. Furthermore, therestill exists substantial needs for modern-ization to take advantage of continuedtechnological progress.
Anticipations for 1961 little changed
Programs outlined in the latestquarterly survey indicate virtually nochange in businessmen's aggregate in-vestment expectations from earlier 1961surveys. As compared with resultsreported 3 months ago, actual expendi-tures in the third quarter and expectedoutlays in the final 3 months of 1961are about unchanged in aggregate.Manufacturing companies have slightlylowered, and nonmanufacturing firmsraised, their scheduled capital outlays.
The full year 1961 total—with onlythe final 3 months based on anticipatedfigures—is $34% billion or 3 percentbelow 1960, the same as projected bybusiness last March, though the com-ponent parts differ. Declines, bothfrom last year and from the 1957 high,centered in durable goods manufactur-ing and railroads. These reductionshave occurred as durable goods pro-duction has accounted for a decliningproportion of final output, and as therailroads have experienced further dif-ficulties in improving their profits posi-tion. In nondurable goods manufac-turing, and in communications, tradeand service 1961 capital outlays willprobably top the 1960 totals by smallmargins.
Manufacturing investment
Spending b}7 manufacturers in thefirst quarter of 1962 is placed at theannual rate of $14% billion, seasonallyadjusted. Realization of these pro-grams would represent a 6 percent in-crease over this year's average and 8percent over the second quarter low.Outlays would be just under the 1960cyclical high—a result attributable tothe lower rate of investment by thedurable goods group as nondurablegoods companies' expenditures arescheduled well above 1960 rates. Theuptrend in manufacturing is broadlybased, but a few key durable goodsindustries have as yet shown only littleresponse to the business recovery.
Capital spending by heavy goodsproducers declined through the thirdquarter of this year, thus reaching acyclical low later than for most otherindustry groups. Unfilled order-deliveryratios, which are historically low in
many of these industries, point to theabsence of strong pressures for addi-tional capacity from this source. Exist-ing capacity, however, includes largeamounts of older, high-cost equipmentin terms of current production. Theneed to improve market position as wellas the recent upturn in output and neworders has resulted in the programingof higher outlays for plant and equip-ment in the final quarter of this yearand in the opening months of 1962.The seasonally adjusted annual rateprojected for the first quarter of 1962is up one-tenth from this year's low.
Plant and equipment spending byindividual durable goods industries inrecent years are shown in the chart.All of the component industries showactual investment in the 1960-61 periodand projected outlays in early 1962below 1957 rates with the exception ofelectrical machinery. During the sameperiod sales of durable goods manu-facturers expanded substantially, andthe difference in trends largely reflectsthe bunching of capital goods buyingin the 1955-57 period.
One of the sharpest percentageadvances projected for the current
PLANT AND EQUIPMENT EXPENDITURESIN EARLY 1962
Scheduled 6 Percent Higher Than 1961 Rate
Billion Dollars, SeasonallyAdjusted, at Annual Rates
0 10 20 30 40 50
TOTAL
Manufacturing
Commercial &Miscellaneous
PublicUtilities
NonraiiTransportation
Railroads
1962 '1st Qfr.
196?
6% Increase
10% Increase
- 2% Decrease
-2% Decrease
4% Increase
6% /ncre-ose
Data: SEC & QBE
U.S. Department of Commerce, Office of Business Economics 61-T2-6Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS
recovery is in primary metals (seechart). This industry had shown arelatively weak rebound during the1959-60 expansion, but currently itis concentrating on expanding invest-ment designed to increase efficiency,and on the development of new productsto improve its competitive positionwith other suppliers of basic materials.Still, planned capital expenditures forthe opening quarter of 1962 will bebelow the corresponding period of 1961.
The programed pickup by nonelec-trical machinery manufacturers is alsosubstantial. Expenditures by thiscapital-goods supplying industry areexpected to approach $!}£ billion at aseasonally adjusted annual rate in thefirst quarter of 1962, exceeding the 1960high quarter. In contrast, actual andplanned expenditures for fixed assets byelectrical machinery producers haveheld relatively steady since the firstquarter of 1961—at a rate just underthe all-time high in 1960.
Motor vehicle producers expect capi-tal outlays in this quarter and in early1962 to be up moderately from thethird quarter, after seasonal allowances.Projected annual rates, however, willbe well under those of 1960 and lessthan one-half the record 1956 total.Among durable goods industries pri-marily supplying the construction in-dustry—lumber, fabricated metal prod-ucts, and stone, clay and glass—thelow in investment occurred early in1961 and capital expenditures show asteady recovery.
Investment by nondurable goodsproducers is expected to reach $7.8billion, at a seasonally adjusted annualrate, early next year. This is within5 percent of the 1957 high and upalmost one-tenth from the first quarterlow in 1961.
Higher capital outlays for the fourthand first quarters over those of the thirdquarter of 1961 were reported by allmajor industries within the nondurablegoods group, with the exception of thepetroleum and rubber industries whereexpenditures are held close to thirdquarter rates. Rubber manufacturers'project outlays at about record rates.Investment by petroleum producerscurrently is about one-fifth under thatin 1956-57 when great efforts to enlarge
petroleum output were stimulated bythe Suez crisis.
Although current capacity is inexcess for some types of chemicals,the industry as a whole appears to beresuming the uptrend in investmentwhich began in early 1959 and wasinterrupted by a drop only in the firstquarter of this year. At an annualrate of nearly $1% billion, programsin the first quarter of 1962 would behigher than in any period, except thethird and fourth quarters of 1957.Producers of paper products anticipatea substantial rise from the third quarter1961 low to the first quarter of 1962.
The increase will not, however, bringseasonally adjusted investment backto the 1960 high quarter.
Textile manufacturers have enlargedcapital budgets, with plans for newfacilities in excess of $}£ billion in theopening quarter of next year—aboutthe same rate as at the height of the1960 expansion. Capital outlays bythis industry had not exceeded the$% billion rate between 1951 and 1960.Moderate increases planned by thefood-beverage group will raise spendingto a rate of about $1 billion. Invest-ment in excess of $1 billion was recordedby the industry only in the early post-
PLANT AND EQUIPMENT EXPENDITURES—Most Major IndustriesShow Recovery but Planned Increases Are as Yet Moderate
Biliion $
4PRIMARY METALS
MOTOR VEHICLES
MACHINERY (Exc. Electrical)
[Mi
Biliion $
PETROLEUM
I11
xx/— --0-0
-
-
1 1 , , , 1 , , , 1 , , ,
CHEMICALS
-
I1
^— v^— o-o •
-
I I , , , ] . , , ! . , .
PAPER
- M
ill 1 , , , 1 , , , 1 , , ,
4
3
2
}
0
3
2
}
0
2
1
0
2
1
0
ELECTRICAL
1957 1960
Year
MACHINERY
0— o
, 1 , , i 1 , , ,1961 1962
FOOD& BEVERAGES
1957 1960Year
Quarterly, Seasonally Adjusted, at Annual Rates
1961
©Anticipated
U. S. Department of Commerce, Office of Business Economics
1962
Data: SEC & OBE
61-12-7Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
6 SURVEY OF CURRENT BUSINESS December 1961
war period when the developments infrozen foods required additional fa-cilities.
Record in nonmanufacturingexpected
Current plans by firms engaged innonmanufacturing activities call for in-vestment at a record seasonally ad-justed annual rate of $22 billion in thefirst quarter of 1962. Sectors whichhave been strongest in the businessinvestment picture in recent yearscontinue to pace the field and to beprimarily responsible for the expectedhigh expenditures, i.e., communicationsand commercial firms.
While not bulking large in the total,outlays by the railroads have been inthe limelight because of their financialplight and of the importance of therails to the economy. Investment bythe railroads has been in a decliningtrend through 1961. Total outlays forthe year 1961 will be somewhat higherthan previously estimated, and pro-grams for the first quarter of 1962
indicate a stepped-up rate from 1961.Even so, the expected rate as 1962starts will be less than half that of 1957.
In transportation other than rails,trucking firms have also revised up-wards estimates of total outlays for1961 and budgeted a rise in capitalspending for the first quarter of nextyear. Airlines, on the other hand, willnot equal earlier 1961 anticipations,and a rather sharp drop in investmentis expected in the first quarter, to a rateabout two-thirds the record in late1959 when payments for the acquisitionof jet planes were at their peak. Jetcarrying capacity for most of the majorairlines now appears ample in theshort-run with the consequent lesseningof pressures for additional planes.
Utility programs lower
Utility companies expect to reduceoutlays in the first quarter of 1962 fromthe seasonally adjusted rates in the lasttwo quarters of this year. For thegroup as a whole, plant and equipmentexpenditures during the final 3 monthsof this year will be up 6 percent from
the first quarter low; spending in theopening quarter of next year wouldstill be 3 percent over the low. Totalpurchases for the year 1961, at $5.6billion, are little changed from 1960,and about one-tenth under last March'sprojection for this year.
The first quarter 1962 dip—as wellas most of the year's setback in pro-grams—centered in gas utility com-panies. Here there have been sub-stantial postponements in plans asprospective marketing areas are beingrestudied. Electric power companies'outlays for new facilities have shownminor fluctuations during the quartersof 1961. First quarter schedules arejust above those rates for the closingquarter of this year, after seasonalallowances, but are not quite equal tothe 1960 high.
Peak commercial outlays
Investment by commercial firms andcommunication companies is expectedto be $13 billion, on a seasonally ad-justed annual basis, in the first quarterof 1962. This volume—if achieved—
Table 3.—Expenditures on New Plant and Equipment by U.S. Business J, 1959-62[Billions of dollars]
Manufacturing industries
Durable goods industriesPrimary iron and steelPrimary nonferrous inetaL _ _ ._ _ . _ _ _ __ _Electrical machinery and equipment _ _ _Machinery, except electricalMotor vehicles and parts _ . _ __ . . ._ _. . __ _Transportation equipment, excluding motor yehi^I '-sStone, clay, find glassOther durable goods 3 ._ __ _ _ . . - - . .
Food a n d beverage _ _ _ - _ - _ _ _ _ _Textile - - -PaperChemicalPetroleum and coalRubberOther nondurable goods *
Mining
Railroad
Transportation, other than rail
Public utilities
Communication _ __
Commercial and other 5
Total ._ _ - - _ - _ -
Annual
1959
12.07
5.771.04.31.52.91.04.39. 53
1.44
6 °9.S3.41. 03
1 232 49
.19
.51
.99
92
2.02
5.67
2.67
8 21
32.51
1960
14. 48
7.18l .GO.31.68
1.10.89.42. 62
7 30po
. 53
. 75.1.602. 64.23. 64
.99
1. 03
1.94
5.68
3.13
8.44
35.68
1961 2
13.72
6.271.15.26.70
1.0974
!39. 50
1.44
7 45. 97. 51. 68
1.622.79.22. 67
.99
.67
1. 84
5.56
t 11.71
34. 50
Unadjusted
1961
Jan.-Mar.
3.00
1.41.28.07. 15
\\\.09. 11.30
1 59.23
. 16
.33
. 56
.05
. 14
. 21
.17
.41
1.09
! •"[ 1.94
7.57
Apr.-June
3. 46
1.5828
.07
. 17
.28
.20
. 10
. 12
. 36
1.88
. 12
.174?
'.70.05.17
.26
.18
.48
1.39
.81
2.04
8.61
July-Sept.
3. 3 1
1.50.26. 06. 17
.' 19
.0912
. 36
1.84. 24. 12. 16.40. 70.06.16
.25
.16
.47
1.50
.78
2.16
8,65
Oct.-Dec.2
1.79
.'0621
'.31.20.11.14.42
2.13
'. To. 18.46.84.06.20
.27
.16
. 49
1.59
1 3.24
9.67
1962
Jan.-Mar.2
3.17
1.45.26.05. 14
27! i f i.09. 12.35
1.7294
1. 05.20
.22
.17
.40
1.10
3.04
8.11
Seasonally adjusted at annual
1961
Jan.- | Apr.-Mar. { June
13.75
6.501.35.30.70
1.1,5.70.40
7.25.95.50.75
£E
.95
.70
1.75
5.35
11.30
33.85
13. 50
6 201 05
2570
1 108040
7. 30.90.45.70
1 . 652. 75
1.00
.70
1.80
5.50
11.05
33. 50
July-Sept.
13.65
6.101.10
^ 7 01.05.70.35
1.00.50.65
1 . 652.85
1.00
.65
1.90
5.65
11.85
34,70
Oct.-Dec.2
14. 00
6.351.10.25.70
1.10
.40
7.6.51.00. 55.65
1. 652. 85
rates
1962
Jan.-Mar.2
14. 55
6. 701.30
'. 701. 20
. 75
. 40
7.851 . 00. W. 70
1.702. HO
1.00
.60
1.90
5.70
12.65
35.90
1.00
.70
1.80
5.50
12. M
36.50
1. Data exclude expenditures of agricultural business and outlays charged to current ac-count.
2. Estimates for the year 1961 are based on actual capital expenditures for the first threequarters and anticipated capital expenditures for the final quarter of the year. These datawere reported by business in late October and November 1961. The anticipated data havebeen adjusted when necessary for systematic tendencies.
3. Includes fabricated metal, lumber, furniture, instrument, ordnance, and miscellaneousIndustries.
4. Includes apparel, tobacco, leather, and printing and publishing.5. Includes trade, service, finance, and construction. The anticipated expenditures and
the seasonally adjusted data also include communications.
Note: Details may not add to totals due to rounding. Data for earlier years were publishedin the June 1956, March 1958, and March 1960 Survey of Current Business.
Sources: U.S. Department of Commerce, Office of Business Economics, and Securitiesand Exchange Commission.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS
would be 10 percent higher than theenlarged investment of 1961 and willexceed the previous peak.
Trade firms are primarily responsiblefor the growing investment of the group.Persistant growth of suburban shoppingareas combined with downtown reno-vation plans have resulted in makingthis area currently one of the mostdynamic sources of demand for capital
goods. Expenditure estimates for 1961have been pushed steadily upward dur-ing the year. First quarter 1962 plansmark a substantial further advance.
Investment by communications com-panies continue as a major investmentinfluence, posting another record highin 1961. Expenditures tended upwardthroughout 1961 and are expected torise in the opening months of next year.
Manufacturers Expect Higher Sales and Inventories in Early 1962
LANUFACTUEEES have experi-enced substantial advances in salesfrom last winter's lows and now lookforward to further gains in the near-term, according to the latest quarterlysurvey of manufacturers' anticipationsconducted in November. Further in-ventory accumulation is also expected,although the moderateness of the pro-jected rise points to a continuation ofthe rather conservative inventory in-vestment policy that has been so evidentin recent years. The survey finds thatmanufacturers viewed their inventorycondition at the start of the currentquarter as considerably more favorablethan in earlier periods of 1961.
Sales in early 1962 are expected tobe about 4 percent higher than theactual value of shipments during thethird quarter of this year on a season-ally adjusted basis. The anticipatedinventory expansion during the 6months period from September 30,1961, to March 31, 1962, would approx-imate 3 percent, or SI.8 billion, season-ally adjusted. Manufacturers7 stockswere virtually unchanged in the secondquarter of 1961 and rose $1 billion inthe third quarter.
Projections for the fourth quarter ofthis year arc fairly well in line withavailable data on sales and inventorychanges for October and early indica-tions for November. Manufacturers intheir first quarter projections look for-ward to a somewhat larger inventoryaccumulation, and a smaller gain insales, than anticipated in the final 3months of this year.
Record sales ahead
If factory shipments advance inaccordance with producers expecta-tions, the fourth and first quartertotals would represent successive newhighs. Expected shipments in the firstquarter 1962 total $97.3 billion, season-ally adjusted, 4 percent higher than
the cyclical peak reached in the firstquarter of 1960. Practically all of theadvance would represent larger volumeas there has been little change in overallfactory prices over the period.
The recovery in manufacturers' ship-ments since the cyclical low early thisyear has been faster in the volatiledurable goods industries than in non-durables, as is typical in early stagesof recoveries. Anticipations from thepresent survey indicate that this differ-ential rate of advance will continueinto early 1962.
Paced by transportation equipment,steel and fabricated metals producers,total heavy goods deliveries are ex-pected to move up 3 percent from thethird to the fourth quarter, and thenincrease another 2 percent in the open-ing 3 months of 1962; sales had risen3 percent in the third quarter of this3^ear. Deliveries at the expected vol-ume in the first quarter would be more
MANUFACTURERS EXPECT HIGHER SALES AND INVENTORIESInventories Have Risen Less Than Sales
Realization of Anticipations Would Further Reduce Stock-Sales Ratios
Billic40
30
20
10
Rati
2.5
2.0
1.5
3n $ (ratio scale) Billion $
DURABLE GOODS PRODUCERS
Inventories
Sales
1, ,.! I ' I „ 1 ! 1 I 1 L I. 1 .1 L . 1 ! 1 1 1 1 1
0
NONDURABLE GOODS PRODUCERS
Inventories
X
S0/05
-
i ! 1 .. 8 i ! 1 ! > I 1 1 •• ! 1 ( ! i I 1 1 L
40
30
20
10
Ratio
Inventory — Sales Ratio
. , . 1 , , , 1 , , , 1 , , , 1 . , , 1 , , .
1957 1958 1959 1960 1961 1962
_
Inventory — Sa/es Ratio
/
, . , 1 , , . I , , . 1 , , , ! , , , 1 , , ,1957 1958 1959 1960 1961 1962
2.5
2.0
1.5
Quarterly , Seasonally Adjusted0 AnticipatedNOTE: Inventories are book values ; sales, Monthly average for quarter
U. S. Department of Commerce, Office of Business Economics 61-12-8
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SURVEY OF CURRENT BUSINESS Dei-ember 1901
than one-sixth higher than the cyclicallow a year earlier—a somewhat smallerincrease than occurred in the previouspostwar recovery periods.
Soft-goods shipments are expectedto expand about 1 percent, seasonallyadjusted, in each of the current andnext quarters, according to the surveyresults; this compares with an almost2 percent rise in the third quarter ofthis year. Larger-than-average salesincreases from third quarter rates areprojected by chemicals, oil, rubber andpaper companies. As in the case ofdurables, the expected advances wouldraise first quarter deliveries well overprevious highs. The rate of recoveryfor sales of these industries has beenji l i t t le slower than in 1958-59 butfaster than in 1954-55.
Accumulation larger in durables
Two-thirds of the anticipated inven-tory increases in the fourth and firstquarters are accounted for by durablegoods manufacturing companies. Forthis group, inventory book values areexpected to rise $600 million during the
current quarter, after allowance for sea-sonal influences. This rate of accumu-lation would be somewhat smaller thanthe actual increment in the third quar-ter. The expected rise of an additional$600 million in the first quarter wouldbring the erid-of-March book value forthe heavy goods group to $32}£ billion,back to the previous high in June 1960.
Expected additions to inventories bysoft-goods manufacturing companies inthe fourth quarter would be $300 mil-lion—a larger rise than occurred duringthe third quarter. Book values of theseproducers is anticipated to increase a n -other $}s billion in the first 3 months of1962. These additions would continuethe long uptrend which began in late1958. During the 1960-61 downturnthere was no net liquidation of stocksby the soft goods group but book val-ues held on a plateau, from mid-1960through early 1961.
The slightly larger advances expectedin sales than inventories impty somefalling off in inventory-sales ratios dur-ing the last quarter of this year andthe first quarter of next. By early1962 stocks-sales ratios will be about
Table 4.—Manufacturers'* Inventories andSalesj Actual and Anticipated
[Billions of dollars]
CHANGES IN MANUFACTURERS' SALES AND INVENTORIESActual Compared With Businessmen's Anticipations
Surveys Thus Far Have Fairly Well Predicted Short-Term Movements
Billion $
1
0
-1
2
1
n
-1
pr
- ':[} ^i Anticipated•**.X
m
_
- p7
F$$
11 If
H TTT TV
1959
INVENTORIES
F~S 1 Actual
M nil S
"'"SALES
_
I Wn.„ ~ ill H^ 1 1 "
i n n i i s r i n i n T s z : !I960 1961 1962
Unadjusted1901— I
IIIII.. -IV i
1902— I *
Seasonally ad-justed
IQ^I — iIIHIIV *
1902—1 i
Inventories, endof quarter
_^
'°
53 853. 053. S55.3
50. 8
5° 353. 454.455. 3
50. 3
1
£
30 S30. 530. 031.5
32 8
30 330. 231. 131.7
32. 3
%£
£ "
Sales, tota forquarter
'jr.
£ 5
23 0 1 86 4 39 723.1 93.2 4 4 . 923. 123.9
24 0
93 o23.223. 323. 0
92.0 | 43.090. 0
90. 1
S7 2
40.7
40. 7
40 991.8 43.494. 090. 0
24. 0 97. 3
44.840. 3
47. 2
•'t '£•
o £X
40 048. 349.049. 8
49. 5
47 148. 449. 149.7
50. I
1. Anticipations reported by manufacturers in Octo 1 >er andearly November. Inventories have been corrected for syste-matic tendencies in anticipatory data. Anticipated inven-tories as reported before adjustment for either seasonal varia-tions or for systematic tendencies at the end of December are.(in billions of dollars): total $53.8, durables $30.0, nondur-ables $23.2. The comparable anticipations for March 31,1902are $54.1, $31.0, and $23.1, respectively.
Source: U.S. Department of Commerce, Office of BusinessEconomics.
1.7, according to the surve\T, or a littleunder the rate which has existed sincemid-1961. It would be well under the1.8 in the first quarter of 1961 at thecyclical low of activity. For the dur-able goods industries the anticipationdata imply a decline in the ratio to2.0—well below the 2.2 figure obtaineda year earlier. (See chart.) Soft goodsproducers have held inventories closerto sales and have shown less fluctua-tion in stock-sales ratios than was thecase in durables. The expected ratio
Table 5.—Manufacturers' Evaluation of theCondition of Their Inventories as of:1
[Percent distribution]
Total manufacturingHigh\bout rightLow
Durable goodsHigh.About rightL o w . . .
Nondurable goodsHighAbout rightLow -
:osJc3
*5
10031672
1003960
1
10090
3
June
30
1003563?
1004957
1
100?6713
1960
ro
o*GO
10099701
10036631
100?078
CO
1
1009x711
1003967
1
100??77
1
CO
;-'
<5
10099
1
100?475
1
1001980
1
1961T
une
30
100ISSI
1100
19SO
1
10016X99
&
"p.a*
GO
1001?869
10013S5?
10010873
Quarterly, Seasonally Adjusted
NOTE: Inventories are book values; Sales, Monthly average for Quarter.U. S. Department of Commerce, Office of Business Economics
1 Condition of actual inventories relative to sales and un-filled orders position as viewed by reporting companies.Percent distribution of inventory book values according tocompany's classification of overall inventory condition.
Source: U.S. Department of Commerce, Office of BusinessEconomics.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
Dec-ember 1061 SURVEY OF CURRENT BUSINESS 9
in the first quarter of next year fornondurables would be a little underthe 1.5 figure for the opening 3 monthsof this year.
Inventory position favorable
As a regular part of the survey manu-facturers were asked to indicate whetherthey considered their inventory positionas of September as "high", "aboutright", or "low" in light of their recenttrends in sales and unfilled orders.Producers holding 86 percent of totalfactory inventories felt that stocks wereabout in line. Companies accountingfor 12 percent of total stocks felt thatinventories were "high" and 2 percentof stocks were considered to be "low".These results represent a substantialdrop in the proportion of "high"inventories from the previous survey,when about 18 percent of total stockson June 30, 1961, were so classified.(See table 5.)
The proportion of stocks considered"high" declined about equally amongthe durable and nondurable goodscompanies. In both areas the "high77
proportion was substantially smaller
than in any other period during the 4years over which this survey has beenmade. Both groups also reported anincrease in the proportion of stockswhich were considered "low" relative torecent sales and orders positions.
In evaluating the projections in thisreport, it should be noted that thesesurveys have thus far fairly well pre-dicted the direction and size of salesand inventory movements after allow-ance for systematic tendencies in theanticipatory figures. (See chart.)They are still exploratory in nature,however, and there are special factorsaffecting sales and inventory fluctu-ations not completely subject to man-agements7 control. Appraisal of in-ventory movements in the next fewquarters may be affected not only bythe requirements of expanding outputbut also by such temporary factors asthe uncertainties arising from thecoming wage negotiations in steel.The survey does not cover a large partof inventories—those in the hands ofnonmanufacturing firms which makeup 45 percent of the total. In thissegment, as well, there are specialfactors such as the relatively low stocksof new cars in retail dealers' hands.
Advance in Housing Construction
J[ HE year 1961 has been one of risingactivity in housing. On the basis of10 months7 data, private nonfarm startsare 1.3 million on an annual basis,somewhat above the 1960 total withthe monthly pattern tracing a reversemove from that recorded in the earlieryear. Last winter, starts reached alow point of around 1 million at aseasonally adjusted annual rate, andsince then they have moved irregularlyhigher, to a 1.4 million anmal rate inOctober.
The current upturn in housing re-sembles the earlier turns in its broadsetting, but the recent rise has featureda greater proportion of conventionally-financed housing and more multiple
619486°—61 2
units. The recent pattern of housinghas differed from that in the earlierpostwar years when backlog demandswere insistent. So far, the rise hasbeen somewhat less vigorous, reflectingthe more adequate housing supplyafter the extension of the postwar highrate of home construction for 15 years.An important difference from 1958 inthe cyclical component of housing de-mand is that the most recent businessrecession came more quickly after ashorter and incomplete business re-covery in 1959-60. As a consequence,it did not follow a protracted period oflow housing starts as was the case in1958.
Furthermore, the housing legislation
of 1961 was somewhat later (June 30)relative to the recession than in 1958(April 1), and did not contain the largesum of special assistance FNMA "par"funds wiiich brought a rush of applica-tions for commitments in 1958.
The further rise in the proportion ofconventionally-financed housing standsout in 1961 developments. This trendhad been noticeable in the 1958 upturn.FHA-VA application or appraisal re-quests for new housing had shown largerises in the 1949 and 1954 upturns anda substantial expansion in 1958. Inthe recent period, such applicationswere rather stable on a seasonallyadjusted basis in the latter half of1960 and the first half of this yearbefore showing an upturn in the thirdquarter—though this has been con-siderably less than in earlier recoveries.Starts under these programs remainedbelow the relatively low rates of a yearearlier until October, averaging onlyabout one-fourth of total starts.
Conventional starts have been gen-erally above a year ago since the firstquarter, and, in recent months, havebeen about as high as in the correspond-ing months of the boom year 1959.
More apartment building
Another distinguishing feature of thisyear is the advance in apartmentbuilding. Earlier in the postwar periodapartments had played a relativelyminor role in residential construction.They had experienced a minor boomleta decade ago when unusually liberalfinancing under FHA's Section 608 wasespecially attractive. After the lapseof this section, apartment constructiondeclined to low rates for a number ofyears. The recent expansion has beenin two phases. Apartment house con-struction reached a high in early 1959,before declining for about a year.Then, moving against the generaldecline in single residence building in1960, apartment starts moved generallyupward and have shown a more markedexpansion this year to a new high.
Developers are taking advantage ofthe accelerated amortization provisionsof the 1954 Federal Revenue Act, some-times making use of syndicates forequity financing. Apartment buying isbeginning to receive some attentionDigitized for FRASER
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10
from real estate investment trustsorganized under the new real estatetrust law of 1960.
Apartment construction is, of course,primarily an urban activity, but morespecifically it is quite concentrated ina few of the big metropolitan areas.Six large metropolitan areas accountfor half of the total multi-family startsas compared with only about one-fifth of1-family starts. Nevertheless, the cur-rent rise is a rather broad one, withthe expansion outside the six largemetropolitan areas keeping pace withthe big-city gain.
A related development that is a sig-nificant influence affecting economicactivity as well as the urban landscapeis the new boom in hotel and motelconstruction. The "non-housekeeping"group has shown a further advance thisyear following the rising trend that, inthe last 5 years, has brought a doublingin the rate of such spending.
Single-family housing starts haverisen during the course of this year.As shown in the accompanying chartthey dropped very sharply late in 1960and remained Jow at the beginning ofthis year. The forward move in thespring and early summer was morethan seasonal, and the gains have beenheld. In recent months, such activity
SURVEY OF CURRENT BUSINESS
has been about even with a year ago,but the total for the first 9 months isa little below the similar period of 1960.Thus, those supplying industries whichare principally related to 1-family hous-ing—e.g. lumber producers—have expe-rienced a market for 1961 as a wholewhich is not much different in the aggre-gate from the rather disappointing 1960season.
Just as the year 1961 has been ratherunusual in terms of the character andthe trend of residential starts andactivity, so the financing has not fol-lowed the general pattern of otherrecover}' years. It was similar, how-ever, in that the flow of savings intolending institutions was high and therelatively low credit requirements ofbusiness (and consumers) left a goodsupply of funds available for residentialfinancing.
Maximum interest rates for FHAloans were reduced in two steps from5?4 to 5M during the first half of theyear. This was a period of easing inthe money market, and there was ageneral reduction in the effective yieldson FHA mortgages. An increase oc-curred in existing house financing withFHA-guarantee, but FHA-VA newhome loans closed declined to anunusually low rate in the first half ofthe .year, falling even below earlier
HOUSING CONTRIBUTES TO RECENT ECONOMIC ADVANCE
Thousand Units
2,000
1,500
1,000
500
PRIVATE NONFARMHOUSING STARTS
New Series ,
Ten - Month Average(At annual rate)
O October
I I i I I I I i
1946 48 50 52 54 56 58 60 62
Annual
U.S. Department of Commerce,, Office of Business Economics
1959 1960 1961 1962
Quarterly, Seasonally Adjusted, at Annual Rates
Data: Census
61-12-3
December 1961
periods of tight money. Some smallrise occurred in the autumn, but anyconsiderable rise must await a morepronounced upturn in FHA-VA starts.Among institutional lenders, FHA-VAnet acquisition of loans was limited
Table 6.—Private Nonfarm Housing
[Thousands, unadjusted at annual rate]
1959IIIIIIIV
1960IIIIIIIV
1961IIIIII
Conven-tionalstarts
9101,2501,170
890
7701,090
970760
7201, 100
FHA-VA
Starts Applica-tions
370540490360
280400380290
2503,50350
690920620460
480520460400
470SCO530
Loansclosed
390400390380
330300340320
270250280
Sources: Bureau of the Census, Federal Housing Admin-istration, and Veterans Administration.
chiefly to mutual savings banks, andto a lesser extent to savings and loanassociations. Life insurance companiesand commercial banks, which hadacquired considerable quantities of suchloans in other recovery years, havemade only limited net acquisitions in1961.
In the conventional loan market,commercial banks have had some netacquisition of home mortgages since thefirst quarter of the year and life in-surance companies have increased mort-gage lending during the year. Butthe largest increase in mortgage lendinghas been by the savings and loanassociations. With a large flow ofsavings, they have stepped up lendingaided by borrowing from the FederalHome Loan Banks. Their commit-ments for loans have reached highrates in recent months. Despite somelag in single-family starts as comparedwith a year earlier, savings and loanfinancing of new construction, whichis limited largely to houses, has showna significant increase this year.
The average interest rate of savingand loan mortgages showed a gradualdecrease during the first several monthsof the year with rates on new homesdeclining from a little above 6 percentDigitized for FRASER
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Dec-ember 1961 SURVEY OF CUEKENT BUSINESS 11
to a little below in most areas ofthe country. In recent months someincreases in rates have been common.The average amount of mortgages in-creased appreciably in the first ninemonths of 1961. The rise this yearhas occurred at a time when the aver-age permit value for all new homes hasshown little change, and the averagemortgage value for new units guaran-teed or insured by FHA-VA has de-clined a bit.
At the end of July, the Federal HomeLoan Bank Board made a considerableliberalization in maximum saving andloan mortgages for houses costing over$20,000, and a larger proportion oflending may be made in the mortgagesrequiring lower downpayments. Anyconsiderable movement by the savingsand loan associations toward the maxi-mum loans permitted under the newregulations would reduce the demandfor junior mortgage financing. How-ever, the distribution of loans actuallymade by the saving associations upto the time of the recent liberalizationshows that most associations weremaking few loans in the most liberal
RESIDENTIAL ACTIVITY
One-Family Housing Starts Predominatebut Multi-Family Now at a High Rate
Thousand Units
140
120
TOO
80
60
40
20
ONE - FAMILY UNITS
1959 ;
1960 1959
I I I l i t
categories permitted under prior Regu-lations.
As construction has tended upwardduring the year, mortgage lending hasincreased in volume. An easy moneymarket has continued and the inflowof funds into savings institutions re-mains at a high rate, only moderatelybelow the unusually large inflow in thefirst half. With only a limited increasein business demands for credit, thefunds available for housing financing
have remained in good supply at onlyslightly advancing interest rates inrecent months. The supply of creditappears adequate to finance furthereconomic expansion; and the businesscredit requirements implied in thepresent projected capital programs donot appear to impinge upon residentialcredit sources. Moreover, the risingmulti-family sector is traditionally lesssensitive than 1-family housing tochanges in interest rates.
Pattern of Retirement and Other Transfer Income Flow
J F M A M J J A S O N OData: Census
U.S. Department of Commerce, Office of Business Economics 61-12-4
ITH the economic recovery wellunderway, and the advance to yearendboth sharp and substantial, it is anappropriate time to review the role ofthe transfer payments portion of thepersonal income flow in the most recentbusiness cycle. Transfer payments rep-resent individuals' money receipts forwhich no current services are rendered;benefits paid under major governmentsocial insurance programs bulk largein these payments. The highlights arepresented in the accompanying chartwhich reveals that such income is nowapproaching an annual rate of $35billion, or 8 percent of all personalincome.
About one-fourth of the rise in trans-fer incomes from the third quarter oflast 3^ear to the same period this yearreflects increased payments to the un-employed, but a larger part is due tothe continued long-run growth in re-tirement programs. The Unemploy-ment Compensation Program operatesas a countercyclical measure, while thegrowth of the latter operates as astabilizing influence on buying powerduring recessions. The chart illustratesthe large postwar increase in theseretirement programs, as well as thefluctuations in the flow of unemploy-ment benefits. In most recent months,retirement income has continued toadvance, offsetting since this spring thedecline in unemployment benefits whichhas accompanied the business recovery.
Within the past year, as reviewed inearlier issues of the SUJRVEY, theFederal Government took special actionto bolster the flow of income, not onlythrough stepped-up unemployment ben-efits but through an acceleration ofNational Service Life Insurance divi-dend payments by $150 million inMarch, and a special payment of $219million in July.
Cyclica I fluctua tions
During the contraction phase of eachof the postwar cyclical movements inbusiness, personal income from currentproduction has declined, but transferincome has risen sharply and has con-tinued up during the early stages ofrecovery. About the time that incomefrom current production has reattainedits prerecession highs, the advance hasbeen temporarily arrested but only forone or two quarters.
Though a definite pattern of transfermovements is apparent in the postwaryears, the relative offsets to the declinesin "earned" income from current pro-duction have not been uniform, asindicated in table 7. The cyclical peaksand troughs used in table 7 are thosemarked out by income earned fromcurrent production. Quarterly dataare used in order to eliminate some ofthe irregularities in the monthly figures.These as well as monthly figures indi-cate generally that transfers have offsetDigitized for FRASER
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12
an increasing proportion of the declinein income from production.
Transfers in the 1960-61 contractionoffset about two-thirds of the $3-billionfall in "earned" income from the thirdquarter of 1960 to the first quarter of1961 (seasonally adjusted annual rate).The proportion offset would be aboutfive-sixths if the special NSLI dividendwere included. As a result of the step-up in transfers, total personal incomecontinued to advance into the fourthquarter of 1960 after which it was offonly slightly in the first quarter of1961. As the chart indicates, the cycli-cal decline was comparatively mild andshort-lived.
In the 1953-54 and 1957-58 cyclicaldownturns, earned income was reducedfrom peak to trough by $4 and $5 bil-lion, respectively, at seasonally adjustedannual rates, with transfer income off-setting about 50 percent of the decline.In the 1953-54 downturn, moreover,total personal income bottomed out onequarterly period earlier than the netmeasure as the result of rising transfers.
The 1948-49 downturn in income wasthe sharpest of the postwar declines.From the fourth quarter of 1948 to thethird quarter of 1949, personal incomefrom current production fell by $9 bil-lion, on an annual basis, while totalpersonal income fell roughly $7 billion;thus the increase in transfers offsetsomewhat more than one-fifth of thefall in incomes from current production.
Recession effect of unemploymentbenefits
Among transfer payments unemploy-ment benefits, consisting of separateState programs administered within abroad framework of Federal regulations,and the Federal railroad unemploymentinsurance program, stand out as a prin-cipal stabilizing device. In the 1948-^9contraction, unemployment insurancebenefits increased about $1 billion atannual rates, offsetting 13 percent ofthe drop in earned income. In the1953-54 and 1957-58 contractions thesebenefits rose by roughly $1% billion andin 1960-61 by about $1 billion, off-setting in each case about one-third ofthe much smaller reductions in income(see table 7).
Amendments to the various State
SURVEY OF CURRENT BUSINESS
programs have been important factorsin the improved performance of unem-ployment compensation programs incontractions. Effective in 1956, theFederal unemployment tax law was ex-tended to include firms employing fouror more workers in at least 20 weeks of
PERSONAL INCOME
December 1901
the year; previously, the program hudbeen restricted to firms employing eightor more persons. Individual Stateshave also made improvements on theirown, increasing maximum allowablebenefits and their duration. It shouldbe noted that the two Federal tempo-
Transfer Income Approaching $35 Billion Annual Rate—Eight Percentof Personal Income
Rise in Transfer Portion in Past Year Reflects—Continued Substantial Growth in Retirement Programs and Paymentsof Unemployment Benefits
BiHion
30
20
10
OTHER
VETERANS BENEFITS
CIVILIAN RETIREMENTBENEFITS
UNEMPLOYMENT BENEFITSI
1947 49 51 53 55 57 59Quarterly, Seasonally Adjusted, at Annual Rates
61
Billion $
Transfer Income Has Cushioned Declines in "Earned" Income Due to Production Cuts
CHANGES FROM PEAK TO TROUGH IN TOTAL INCOME FROM PRODUCTION
-104th Qtr. 1948 -3d Qtr. 1949
Qtr. 1960 -Qtr. 1961
CHANGES FROM TROUGH TO REATTAINMENT OF PREVIOUS PEAK
10
3d Qtr. 1949 -
2d Qtr. 1950
Seasonally Adjusted, at Annual Rates
U. S. Department of Commerce, Office of Business Economics
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
1 tec/ember 1961 SURVEY OF CURRENT BUSINESS 13
niry unemployment benefit programsIn 1958 and 1961 had their impact afterthe trough in "currently earned" incomewas reached.
Large expansion in OASI
The chart also makes clear thedominance of the many programs notspecifically related to cyclical changesin business. Growth here has beenparticularly significant under the vari-ous government civilian retirementprograms mentioned earlier, consistingof Federal, State and local governmentretirement and pension benefits, rail-road workers retirement disbursementsand payments under the Federal oldage insurance system.
In 1961, civilian benefits amountingto $16 billion were paid out, as com-pared with the $1 billion of 1947; thisrise has centered largely in paymentsunder the OASI program, with benefitsin 1961 of $13 billion. The large ex-pansion reflects not only normal growth,
Table 7.—Changes in Personal Income andTransfer Portion in Recessions and EarlyRecovery
[Billions of dollars, seasonally adjusted at annual rates]
A. FROM PEAK TO TROUGH IN PERSONALINCOME FROM PRODUCTION
Decline in personal income ex-cluding transfers
Increase in total transfers
Unemployment benefitsCivilian retirement benefitsVeterans' benefitsPublic assistance and other
Decline in total personal income.
4Q1948-3Q
1949
—9 2
2.0
1 2.1. 1.6
-7.2
3Q1953-
2Q1954
— 4 2
2.0
1 4.500
2 2
3Q1957-
1Q1958
— 5 2
2.6
1 6.53
.3
—2.6
3Q1960-
1Q1961
3 1
2.6
1 1.62
.8
—.5
B. FROM TROUGH TO REATTAINMENT OF PEAKIN PERSONAL INCOME FROM PRODUCTION
Increase in personal income ex-cluding transfers
Increase in total transfers
Unemployment benefitsCivilian retirement benefitsVeterans' benefitsPublic assistance and other
Increase in total personal in-come . _ _ . _ _ _
3Q1949-2Q
1950
11.9
2.4
— 32
.42.1
14.3
2Q1954-
4Q1954
5 6
1.0
1. 7.3
— . 1
6.6
1Q1958-3Q
1958
8 8
2.7
1 7.9
— . 1.2
11.5
1Q1961-2Q
1961
7 7
.9
Q
.81
—.6
8.6
as the program moves toward maturity,but also the effects of legislative amend-ments providing increased benefits,extended coverage, and liberalized re-tirement requirements.
In 1961, total veterans7 benefitsamounted to about $4.5 billion. Whilethis was about $2 billion lower than thepeak year of 1947, there has beensome increase in recent years. As aconsequence of veterans' unemploy-ment programs in recessions, and thelong-run growth in veterans' retirementand pension benefits, total veterans'payments have shown some firming inbusiness contractions.
Role in business expansions
The underlying secular growth inpayments under the various noncyclicalprograms has been the major expan-sionary factor behind transfers in theearly recovery phase of cycles. Inaddition, unemployment benefits havenot fallen as soon as income has recov-ered because of the lag in unemploy-ment rates behind turning points inpersonal income. In the past tworecoveries, unemployment benefits haveincreased substantially for one or twoquarters beyond the low quarters in
(Continued on p. 23)
Corporate Profits and National Income
NOTE: Detail may not add due to rounding.
Source: U.S. Department of Commerce, Office of BusinessEconomics.
1 HIRD-QUARTER corporate earn-ings reached a seasonally adjustedannual rate of $47 billion, an increaseof $1% billion from the second-quarterrate of $45% billion. This gain, whichfollowed a sharp rise of $5% billionfrom the first quarter cyclical low,reflects a corresponding slowdown in theadvance of total GNP. A substantialincrease in production and a continuingrise in profits are expected in the finalmonths of the year.
Profits, including inventory valua-tion gains and losses due to pricechanges in addition to earnings fromcurrent production, rose from $45.2billion in the second quarter to $47.2billion in the third. The somewhatlarger increase in this measure of profitsreflected a shift from inventory valua-tion losses to gains.
With taxes taking about half oftotal corporate income, profits aftertaxes increased $1 billion to $23.8billion in the third quarter.
Dividend payments which have heldsteady over the cycle have shown onlva slight rise so far this year, leaving thebulk of the increase in the after-taxtotal as undistributed profits. Thelatter advanced to $9% billion in thethird quarter, a rise of about $1 billionover the second quarter and of about$3% billion over the first.
By the third quarter, total corporateearnings had virtually regained thecyclical peak of the first quarter of1960, but the recovery was unevenindustrially. Third quarter earningsfor most major industrial groups ex-ceeded those of last year. Profits indurable goods manufactures and trans-portation, which had sustained thelargest losses in the subsequent down-turn, were exceptions. Though scoringthe sharpest rises since this year's firstquarter low, they were still aboutone-seventh below earnings in early1960. In manufacturing, the lag cen-tered in the primary metals, machiner}7,and automobile industries; in trans-portation, it reflected mainly the un-favorable experience of the railroads.
With third quarter profits data nowavailable, national income is estimatedat an annual rate of $434 billion. Thistotal is $8 billion above the secondquarter of the year—the previous high.In addition to the rise noted in corpo-rate earnings, compensation of employ-ees expanded $6 billion, at an annualrate, as employment, hourly earnings,and the workweek all increased. Pro-prietors' income and net interest roseslightly, while rental income was un-changed.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
14 SUEVEY OF CUEKENT BUSINESS December 1961
Table 8.—National Income by Type of Income (1-8, 1-9)
[Billions of dollars]
National income
Compension of employees
Wages and salaries -PrivateMilitaryGovernment civilian
Supplements to wages and salaries _ _ _ .Employer contributions for social
insurance. __ _ __ _Other labor income
Employer contributions to privatepension and welfare funds
Other
Proprietors' income
Business and professionalIncome of unincorporated enterprises..Inventory valuation adjustment
Farm
Rental income of persons
Corporate profits and inventory valuationadjustment __
Profits before tax _Profits tax liabilityProfits after tax
Dividends, . . .Undistributed profits _
Inventory valuation adjustment
Net interest
1958
367.4
257.1
239.8196.6
9.833 5
17.3
8.09.4
7.32.1
46.1
32.532.6— . 113.5
12.2
37.2
37.418.618.812.46.4
-.3
14.8
1959
399.6
278.4
258.5213.2
9.935.4
20.0
9.710.3
8.02.3
46.3
35.035.2
j11.3
11.9
46.4
46.823.123.713.410.3
e
16.6
1960
417.1
293.7
271.3223.0
9.938.5
22.4
11.510.9
8.52.4
48.2
36.236 3— 112.0
11.7
45.1
45.022.322.714. 18.6
.0
18.4
1960
III IV
1961
I II III
Seasonally adjusted atannual rates
419.0
296.0
273.2224.2
9.939. 1
22.7
11.810.9
48.7
36.3
12.4
11.7
44.1
43.221.421.714.17.6
.9
18.6
416.5
294.0
271.3221.6
10.039.7
22.7
11.511.2
49.0
36.3
12.7
11.7
42.9
42.621.121.414.37.2
.3
18.9
412.2
292.6
270. 1219.7
10. 140.3
22.5
11.710.8
48.9
36.0
12.9
11.5
40.0
39.619.620.014.25.8
.4
19.2
426.0
300.2
277.3226.0
10. 141.2
22.9
12.010.8
49.2
36.3
12.9
11.5
45.5
45.222.4
14! 28.6
.3
19.6
434.3
306.2
282.7230.7
10.241.9
23.4
12.211.2
49.4
36.6
12.8
11.5
47.0
47.223.323.814.39.5
2
20.2
Table 10.—National Income by Corporate and Noncorporate Formof Organization (1-14)
[Billions of dollars]
Table 9.—National Income by Industry Division (1-11)
[Billions of dollars]
All industries, totalAgriculture, forestry, and fisheries
ManufacturingDurable-goods industriesNondurable-goods industries
Wholesale and retail trade
Finance, insurance, and real estate
Transportation
Communications and public utilities. -
Services
Government and government enter-prises
Other
1958
367.418.3
103.860.843.0
61.1
37.6
16.4
14.2
41.9
46.6
27.4
1959
399.616.3
119.671.548.0
66.4
40.1
17.6
15.3
45.9
49.0
29.3
1960
417.117.2
121.572.549.0
68.8
42.3
17.8
16.6
50.0
52.5
30.3
1960
III IV
1961
I II III
Seasonally adjusted atannual rates
419.017.5
120.871.449.3
69.2
42.5
17.7
16.8
50.5
53.3
30.8
416.517.8
117.569.248.3
68.5
42.8
17.3
17.0
51.0
54.0
30.4
412.217.9
113.165.447.7
68.2
42.9
16.9
17.0
51.3
54.8
30.0
426. 018.0
120.770.849.9
70.8
43.3
17.1
17.3
52.0
55.8
31.0
434.318.2
123.673.150.5
72.0
43.6
17.6
17.5
53.5
56.7
31.7
National income
Income originating in corporate busi-ness _ _ _ _ _ ___ _ _ _
Compensation of employeesWages and salariesSupplements to wages and
salaries
Corporate profits and inventoryvaluation adjustment l
Profits b^f )r3 tax 'Profits tax liabilityProfits aft^r tax 1
Inventory valuation adjust-ment _ _ - _ _ -
Net interest - _ _
Income originating outside corporatebusiness. _ _ _ _ _ _ _ . ...
1958
367.4
195.8
159.5147.4
12.1
35.435.618.617.0
-.3
1.0
171.6
1959
399.6
219.8
174.2160.2
14.0
44.645.023.121.9
-.5
1.0
179.8
1960
417.1
226.5
182.4166.9
15.5
43.243.222.320.8
.0
.8
190.6
1960
III IV
1961
I II III
Seasonally adjusted atannual rates
419.0
226.5
183.3167.6
15.7
42.441.421.420.0
.9
.8
192.6
416.5
222.5
180.8165.2
15.6
40.940.521.119.4
.3
.8
194.0
412.2
217.5
178. 9163. 6
15.3
37.837.419.617.8
.4
.8
194. 6
428.0
228.5
184.2168. 6
15.6
43.543.222.420.8
.3
.9
197.6
434,3
233.5
187.6171. a16.0
45.045. 123.321.8
-.2
,9
200.9
1 Excludes corporate profits originating in ths rest of tha world S3ct:>r.
Table 11.—Sources and Uses of Gross Saving (V-2)
[Billions of dollars]
Gross private saving
Personal savingUndistributed corporate profitsCorporate inventory valuation
adjustmentCapital consumption allowanceExcess of wage accruals over dis-
bursements
Government surplus on income andproduct transactions
FederalState and local
Gross investment
Gross private domestic invest-ment. _ _ _ _
Net foreign investment
Statistical discrepancy
1958
6X5
24.76.4
—.338.6
.0
—11.4
—9.4—2.1
56.6
56.6—.1
—1.5
1959
74.0
23.410.3
—.540.8
.0
—2.2
—1.8—.4
70.1
72.4—2.3
—1.7
1960
74.6
22.98.6
.043.1
.0
1.9
3.3—1.4
73.9
72.41.5
—2.6
1960
III IV
1961
I II III
Seasonally adjusted at annualrates
76.4
24.67.6
.943.2
.0
—.5
1.4—1.9
71.9
70.51.4
—4.0
73.9
22.77.2
.343.7
.0
—1.9
.4—2.3
69.1
65.63.6
—2.9
74.0
23.75.8
.444.2
.0
—7.9
5 5—2 4
63.5
59.83.7
—2.6
79.7
25.88.6
.345.0
.0
—6.6
—4.3—2 3
71.3
68.82.4
—1.8
81.6
26.89.5
—.245.5
.0
— 6.@
3 1—2.9
74.1
73.2.9
—1.5
Table 12.—Corporate Profits (Before Tax) and Inventory ValuationAdjustment, by Broad Industry Groups (VI-10)
[Billions of dollars]
All industries total
Manufacturing
Durable-goods industriesNondurable-goods industries
Transportation, communications, andpublic utilities. . .
All other industries
1958
37.2
18.3
9.09.3
5.6
13.3
1959
46.4
24.8
13.211.6
6.4
15.2
1960
45.1
23.3
12.011.3
6.8
15.0
1960
III IV -1961
II III
Seasonally adjusted at annualrates
44.1
22.6
11.411.3
6.6
14.9
42.9
21.6
10.710.9
6.8
14.6
40.0
18.8
8.510.4
6.5
14.6
45.5
22.3
11.211.2
7.1
16.1
47.0
23.6
12.111. C
7.3
16.1
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BY WALTHER LEDERER, SAMUEL PIZER, JOHN B. BODDIE, AND MAX LECHTER
Recent Developments in International Trade and InvestmentsThird Quarter Balance of International Payments
FAR in 1961 the balance on ourforeign transactions has been betterthan in 1960, but the substantial im-provement during the early part of theyear has not been held, as businessactivity at home recovered, and therate of economic expansion in some ofthe major countries abroad sloweddown.
After adjustment for seasonal factorsand certain special transactions, the ad-verse balance in our international inter-change during the third quarter wasclose to $800 million, or $3.1 billion atan annual rate.
During the second quarter that bal-ance—adjusted for seasonal variations,but omitting receipts from extraordinarydebt repayments—was adverse by $1.9billion at an annual rate, and in thefirst quarter by $1.4 billion.
For the first three quarters, the for-eign transactions of the United Statesincluding the receipts from the extraor-dinary debt repayments of $650 mil-lion, resulted in a payments balanceof $1.5 billion at an annual rate. Thiscompares with the larger amounts of$3.5 to $4 billion per year in the periodfrom 1958 to 1960.
The balance in our internationaltransactions as defined here shows thechanges in the international liquidityposition of the United States and ismeasured by changes in holdings ofgold and convertible currencies by ourmonetary authorities and the changesin outstanding liquid liabilities.
Before adjustments, the net declinein liquidity during the third quarterwas about $910 million composed of areduction in our combined stock of goldand convertible currencies by close to$270 million, and the rise in liquidliabilities by close to $640 million.
The acceleration in the "deficit" onour foreign transactions appears to havebeen due to several major factors, asindicated in the following tabulation.
The major items having an adverseeffect in the third quarter on the balancewere the substantial rise in merchandiseimports; the sharp reduction in theinflow of foreign capital (other thanliquid funds); and some decline, scat-tered over various items, in the balanceon services transactions. To a major
Major Recent Changes in the Balance ofInternational Payments
[Billion dollars at annual rates]
Selected items affecting thebalance of payments:
Merchandise imports
Foreign investments in theUnited States
Balance on services, exclud-ing military expendituresand sales
Merchandise exports, ex-cluding those financed byGovernment grants andcapital outflows
Balance on unrecordedtransactions
Balance on all items excludingspecial transactions
19
Secondquarter
13.6
1 l
2 4
17.2
—1.6
—1.9
61
Thirdquarter
15.4
0
1 8
17.3
.5
—3.1
Changesresultingin an im-
prove-ment (-+-)or deteri-oration(-)in
the bal-ance
—1.8
i i
. 1
2.1
—1.2
extent the change in the balance onthese transactions was offset by theshift in the balance on unrecordedtransactions. The rise in merchandiseexports was due largely to highershipments financed under the variousforeign aid programs. Other exportsrose only moderately and their changethus did not provide a major offset tothe adverse effects resulting fromchanges in other items.
To some extent the recent develop-ments in the balance of payments con-form to the pattern one might expectfrom the rise in domestic businessactivity and the slowdown in the rateof economic expansion in some of the
major industrial countries abroad. Toa certain extent, however, changeswhich normally could be expected as aresult of cyclical forces were modifiedby other factors, accelerating the dete-rioration in our liquidity position.These other factors, however, appear toreflect changes in temporary ratherthan in structural conditions.
Rise in Merchandise Imports
Merchandise imports rose from anannual rate of $13.6 billion in the sec-ond quarter to $15.4 billion in the third.An attempt has been made—as shownin the chart on page 17—to determinewhat part of that change can be attrib-uted to the increase in domestic busi-ness activity during that period. Thefirst panel in that chart shows the rela-tionship between GNP and imports byquarters over the period from 1950 tothe third quarter of 1961. Percentage-wise, imports rose somewhat slowerthan GNP. Several factors may beresponsible for this. In particular, im-ports of the large foodstuff and bever-age component contributed to theslower pace of total imports since theyrise more in line with the increase inpopulation rather than the increase inincomes.
As the scatter of the individual quar-terly relationships from the regressionline in the first panel indicates, changesin GNP do not explain all of the changesin imports. An examination of the dif-ferences of the actual quarterly importswith those calculated from the regres-sion equation indicated a distinctcyclical pattern.
Various business indicators with astrong cyclical tendency were comparedwith the pattern of the residuals, andchanges in non-farm inventories ap-peared to have the closest similarity.The relationship is shown in the secondpanel. This indicates that everything
15Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
16 SURVEY OF CURRENT BUSINESS December 1961
else being equal, imports will changesubstantially in periods of significantshifts in inventory investment.
A comparison of seasonally adjustedimports with the values calculated onthe basis of a multiple correlation withGNP and nonfarm inventory move-ments is shown in the third panel andthe differences between the two linesin the fourth.
For the period as a whole the cal-culated values seem to follow relativelyclosely the actual import movements,but actual imports fell somewhat shortof the calculated amount in the fourthquarter of 1960 and the first quarter ofthis year. In the second quarter thatshort-fall widened considerably as GNPand inventories rose, but a correspond-ing rise in imports did not materialize.However, imports rose sharply in thethird quarter recovering to the positionindicated by the calculated relationship.Thus, the third quarter rise repre-sented to a large extent a lagged reac-
tion to the advance in domestic businessactivity.
A large part of the import rise in thethird quarter occurred in July. DuringAugust and September imports wereapproximately at a $15 billion rate.The sharp rise in July and the subse-quent leveling out at a lower rate mayhave been due to some extent to theshipping strike at the end of Junewhich could have retarded the arrivaland unloading of ships. The largeshift in the "errors and omissions"from missing net debits of about $400million (quarterly amount) in thesecond quarter to missing net creditsof $125 million in the third quarter,may reflect the shift in imports to theextent that payments for third quarterimports were actually made during thesecond quarter.
To a certain extent, the change inthe deviation of actual from calculatedimports from the second to the thirdquarter appears to have been due to
Table 1.—Analysis of U.S. Balance of Payments, Seasonally Adjusted 1
(Millions of dollars)
U.S. payments, recorded .Imports:
Merchandise _ _ _Military expendituresOther services. _ _
Remittances and pensionsGovernment grants and capital outflows
Transactions involving no immediate dollarout floiv from the United States 2 . _ _
Dollar payments to foreign countries andinternational institutions
U.S. private capitalDirect investments _Long-term portfolioShort-term
U.S. receipts, recordedExports:
MerchandiseFinanced by Government grants and capital.
Services and military salesRepayments on U.S. Government loansForeign capital other than liquid funds
Excess of recorded receipts or payments ( — )On goods, services, remittances, and pensions.On Government grants and capitalOn private U.S. and foreign capital (other
than liquid funds) _ _ _ . _Unrecorded transactions _ __ _
Total net receipts (+) or payments (— ) (bal-anced by changes in holdings of gold andconvertible currencies by U.S. monetaryauthorities and changes in liquid liabilities).
Major special transactions
Total, excluding special transactions . _ _
Calendar year
1959
29, 743
15, 2943,1095,134
7913,040
na
na2,3751,372
92677
25, 472
16, 282na
7,4271, 054
709
-4,271-619
-1,986
-1,666528
-3, 743
335
-4, 078
1960
31,412
14, 7223,0485,557
8483,381
2,155
1,2263, 8561,694
8501,312
28, 131
19, 4091,8207,891
631200
-3,2813, 125
-2,750
-3,656-648
-3,929
-524
-3,405
January —September
1960
23, 198
11. 2892,3214,213
6182,368
1,506
8622,3891,010
606773
21, 024
14, 414L2575, 833
486291
-2, 1741,806
-1,882
-2,098-321
-2,495
3 -80
-2,415
1961
23, 131
10, 6462, 2454,178
6422,836
1,946
8902,5841,243
438903
22,483
14, 7621,6376,2071,042
472
-6483,258
-1,794
-2,112-309
-957
650
— 1, 607
1960
I
7,567
3,785767
1,373198750
496
254694344194156
6,914
4, 650420
1, 915168181
-653442
-582
-51333
—620
-620
II
7,690
3, 830756
1, 438213843
482
86161026026783
7,069
4, 837402
1,99114893
-621591
-695
-517-142
-763
3-80
-683
III
7,941
3, 674798
1,402207775
528
2471, 085
406145534
7,041
4,927435
1,92717017
-900773
-605
— 1, 068—212
-1,112
-1,112
IV
8,214
3, 433111
1,344230
1,013
649
3641, 467
684244539
7,107
4, 995563
2,058145
—91
-1,1071,319—868
-1,558-327
-1,434
3 4-444
-990
1961
I
7,768
3,394759
1,366210
1,000
687
3131,039
500—20
559
7,447
5,054580
2,062132199
-3211,387-868
-840-25
—346
—346
II
7,330
3,400761
1,361221822
639
283765330320115
7,987
4,763452
2,119830275
6571, 139
8
-490-409
248
5 6 724
-476
III
8, 033
3,852725
1, 451211
1,014
720
294780413138229
7, 049
4,945605
2,02680
—2
-984732
-934
-782125
-859
6-75
-784
1. Excludes goods and services transferred under militarygrants, and the subscription to the International MonetaryFund of $1,375 million in 1959.
2. Includes only direct financing provided by the Govern-ment for the exports of goods and services from the UnitedStates and for meeting other foreign obligations in the UnitedStates.
3. Capital subscriptions to international and regionaltinancial institutions.
4. Exceptionally large private direct investments involvingcash payments abroad.
5. Receipts from foreign governments through extraordi-nary debt repayments ($649 million).
6. Shift in debt service payments by foreign governmentsfrom third to second quarter.
na Not available.
changes in imports of foodstuffs which,in general, are less affected by cyclicaldevelopments than other imports. Inparticular, imports of sugar were lowduring the second quarter, but theyrecovered to the customary level inthe third. Coffee imports may havelagged somewhat in the third quarter.Altogether foodstuffs imports increasedin the third quarter at an annual rateof about $200 million, most of whichmay be attributed to shifts in thequarterly distribution rather than toan advance on cyclical grounds or tomore enduring factors.
Rise in industrial materials andmanufactures
Most of the recent import rise was inindustrial materials and in finishedmanufactures. The chart on page 18shows the relationship between importsof industrial materials (after adjustmentfor seasonal factors and price changes)and manufacturing output since 1957.
It can readily be seen that from 1957to 1959 imports rose faster than U.S.industrial output, and that the declineduring 1960 was more than in domesticproduction. To a certain extent thesechanges in the relationship were due tochanges in steel imports which weregreatly affected by the steel strikeduring the second half of 1959, butimports of other materials showedsimilar changes.
The relatively low volume of importsof industrial materials during the earlystages of the current cyclical upswingresulted in reductions in inventories ofthese materials. The acceleration inimports during the third quarter reflectssome replenishment of stocks. Thiswas especially the case in variousnonferrous metals. The initial rise indomestic requirements for importedmaterials was thus absorbed to a certainextent by inventor}7 reductions, andthe third quarter rise in imports reflectsin part the need to replenish stocks.
An additional factor contributing tothe acceleration of the rise in importsof industrial materials which competewith domestic production is the slacken-ing in the demand by other industrial-ized countries where production is nowexpanding at reduced rates, and inven-Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961
lories are not being increased or areeven being reduced. The decline in for-eign demand has had a depressing effecton prices of some of these materialson international markets in recentmonths. This applies particularly tolead, zinc, copper, aluminum, copra,and rubber.
For many of these commodities for-eign demand is generally larger thanU.S. demand. Unless domestic pro-ducers are able to expand their outputof these products even with prices de-clining, the increase in domestic de-mand will tend to be met from foreignrather than from domestic sources.The rise in the imports of steel millproducts perhaps may only to a lesserextent be attributed to declining pricesabroad, but rather to an expansion inavailable capacity relative to demand.Prices for certain steel products chargedby some of the European producershave been lower than those chargedby domestic industry for some time.The total of steel imports is still con-siderably under the record during andafter the 1959 steel strike, but duringthe third quarter they were at a sub-stantially higher rate than prior to 1959.
The tendency for imports to risetoward the amount indicated by thepast relationships to domestic businessactivity applied also to finished manu-factures. But an important specialelement contributing to that rise wereimports of commercial airplanes. Cargoplanes were imported from Canada, andjet passenger planes from France. Theincrease over the second quarter wasabout $40 million. About $150 millionhad been ordered and the remainderwill be delivered during the final quar-ter of this year and the early part ofnext year. Imports of passenger carswhich had been smaller than sales forsome time rose again after adjustmentfor seasonal variations. Imports ofother consumer and capital goods alsoexpanded from the second quarter,which seems to have been the lowestpoint in the recent import cycle forthese goods. Machinery imports nearlyregained the previous peak at the endof 1959.
Another development affecting im-ports appears to be the cyclical devel-
619486°—61 3
SURVEY OF CURRENT BUSINESS
IMPORTS REFLECT MOVEMENT OF U. S. GNPBut Also of Inventory Changes, With Special Factors Dominating at Times
200 300 400 500
17
600
20
16
12
IMPORTS RELATED TO GNP
Regression
\
200 300 400Gross National Product - Billion $
500 600
DEVIATIONS From Above Line Related to Changes in INVENTORIES
-20 -15 -10 -5 0 5 10Change in Nonfarm Business Inventories - Billion $ (GNP basis)
U.S. IMPORTS-Calculated vs. Actual
15 20
16
12
Actual
U* I, 1 I I I I
Deviations of Actual From Calculated Imports As a Percent of Calculated
"20 I i i I I i i i I i i i I i i i I i i i I i i i I i i i I i i i I i i i I i i i I i i i I i i i I i t
1950 1952 1954 1956 1958 1960 1962
Data: Quarterly - Billions of Dollars, Seasonally Adjusted, At Annual Rates
* Calculated from the regression using quarterly data 7950-1960 Data: Census & OBE
U. S. Department of Commerce, Office of Business Economics 61-12-11
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
18
opments abroad. A slackening off inbusiness activity in countries compet-ing with us for goods we actually orpotentially import, tends to increasesuch imports. Such an effect can beobserved in recent months in industrialmaterials and perhaps also in somecategories of finished goods. The charton page 17 shows that a period of acontinuous short-fall of imports relativeto calculated values occurred from thelast quarter of 1954 to the last quarterof 1955. That was also a period inwhich business activity in the otherindustrialized countries increased some-
MANUFACTURING OUTPUT AND IMPORTSOF INDUSTRIAL MATERIALSRecent Rise in Imports Reflects Increasein Domestic Production as inPrevious Recoveries
Billion 1953"$1957 = 100 (Ratio Scale) Annual Rates
120
110
100
90
80
Manufacturing Output(left scale)
Volume of IndustrialMaterials Imports
(right scale)
I J_ I J_ I1957 58 59 60 61 62
Quarterly, Seasonally Adjusted,
Basic Data: FRB & Census
U.S. Department of Commerce, Office of Business Economics 61-12-12
what faster than the longer run trend,and productive capacity started tobecome a limiting factor in meeting therising demand. During 1956 and thefirst half of 1957 when imports wereabout equal to the calculated values,production in other industrial countriesadvanced approximately in line withthe longer run trend.
From the middle of 1957 to the endof 1959 imports were higher than thecalculated amounts. The latter partof that period reflected, of course, the
SURVEY OF CURRENT BUSINESS
large steel imports. It was also aperiod, however, when producers ofmanufacturers in the other industri-alized countries as well as producers ofraw materials were in a relatively betterposition to compete in our domesticmarkets. The strong business expan-sion abroad since the latter part of 1959reduced competitive pressure by foreignproducers, but with the recent slow-down in the rate of foreign businessexpansion this pressure can be expectedto strengthen again.
Exports Remain High
Nonmilitary merchandise exports re-covered during the third quarter abouttwo-thirds of the decline from the firstto the second quarter. These exportshave not changed materially since themiddle of 1960 but a slight downwardmovement appears to have developedsince the top in the first quarter of thisyear, particularly in the case of exportsnot financed by Government grants orcapital outflows.
Exports financed by Governmentgrants or capital transactions increasedby about $150 million from the secondto the third quarter and thus accountedfor about three-fourths of the total risein exports in the third quarter.
Another factor contributing to therise in the third quarter exports—whichmay partly overlap with the rise inGovernment financed shipments—wasthe rise in cotton shipments after Au-gust when a higher export subsidy tocompensate for higher support pricespaid for the new crop came into effect.Shipments during May, June, and Julyhad been postponed in anticipation ofthat change. This change in policyresulted in an estimated shift in ship-ments of about $60 to $70 million fromthe second to the third quarter. Withthat adjustment exports during thethird quarter were about equal to thosein the second quarter.
The chart on page 19 records the ex-ports by major categories, includingshipments directly financed by theGovernment.
Shipments of capital equipment con-tinued to expand, but Governmentfinanced shipments of capital equipmentwere probably an important factor con-
December 1961
tributing to the third quarter rise.Sales of finished consumer goods werehigher than a year earlier.
Exports of industrial materials in-cluding cotton have leveled out sincethe third quarter of last year. Exportsof foodstuffs, excluding Governmentfinanced shipments which account forabout 30 percent of the total, wereslightly higher than a year earlier.
The continuation of the uptrend inshipments of machinery at a compara-tively high and still rising rate, whileexports of industrial materials havealready leveled off represents a cyclicalpattern which could also be observedin 1957 when the peak in exports ofindustrial materials was reached abouttwo quarters earlier than the peak inexports of machinery.
Country pattern of distribution
To a large extent the commoditypattern of the export trade depends onits geographic distribution. Exportsto the industrialized countries consistto a large extent of industrial materials,while those to the less developed coun-tries consist mostly of finished goods.The slowdown in business activity inEurope is to a large extent in the basicmaterials industries, and thus affectedour exports of industrial materials. Insome of the European countries neworders for investment goods have alsodeclined, but the backlog is still largeenough to permit production to con-tinue on a rising trend. Any furtherdecline in the demand for capital equip-ment in the major European countrieswill have repercussions on U.S. exports.The prospective widening of the com-mon market, and the continued needfor labor saving equipment may be ex-pected, however, to keep the Europeandemand for capital goods high.
Exports to Canada and LatinAmerica have remained stable, althoughstill relatively low.
Exports to Japan, which consistlargely of industrial materials, con-tinued to expand and thus offset inpart the declining demand in Europe.Because of Japanese balance of pay-ments difficulties, however, the rise insales to Japan cannot be expected tocontinue.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
1061 SURVEY OF CUERENT BUSINESS 19
The overall export movement issubject to a variety of influences at thepresent time some of which haveopposite effects. In general, changesin the growth rate of the other indus-trialized countries have been the mostimportant factor influencing our exportsin recent years. Some slowdown inEurope is developing now and can alsobe expected for Japan. Business inCanada is strengthening, however, andthat should have a favorable influenceon our sales there. At the same time,upward valuations of the currencies ofGermany and the Netherlands wouldtend to reduce the competitive positionof these countries.
By the same token, the downwardadjustment of the Canadian dollarwould tend to offset the effects to beexpected from the rise in businessactivity in that country. This varietyof developments abroad would suggestthat for the near future at least foreigninfluences on our exports are not likelyto create major changes in the currentrate of those exports which do notdepend on government financing. Inaddition to these foreign influences,exports are also affected by domesticdevelopments, including the expansionin domestic business, the modernizationof domestic industry, changes in costsand prices, the development of new andbetter products, and the various meas-ures taken by the Government andindustry to expand foreign sales. Itis still too early to judge the effectsof these developments, but they shouldhelp to have a positive influence on thelonger run trend and perhaps reducethe extent to which exports are subjectto changes in business activity incompeting countries.
Private Capital Movements
The outflows of private capital fromthe United States was about $340million less in the third quarter thanin the preceding quarter, but this wasa seasonal change. Direct investmentsturned up moderately, after seasonaladjustments, indicating that an annualrate of $1.6 billion, as suggested by thefigures for the first half of the year,was being maintained. Other outflowsof long-term capital were considerably
reduced as new issues in this marketfell off, as did longer term bank loans.
Outflows of short-term funds were$165 million less than in the secondquarter; although a decline is ordinarilyexpected on the basis of the seasonalpattern, much of the third-quarterreduction resulted from a leveling-off ofclaims on Japan, which had risen
MAJOR CATEGORIES OF MERCHANDISETRADE
Third Quarter 1961 Export Surplus Declines—As Recovery in Exports of FINISHEDMANUFACTURES Fails To Match Import RiseDue to Large Arrivals of Aircraft
Billion $
10MANUFACTURES: CAPITAL EQUIPMENTAND CONSUMER GOODS (nonfood)
Exports
0 I I I I I I I I l i i i l n i l i i
While Export Surplus on INDUSTRIALMATERIALS Continues Narrow
10INDUSTRIAL SUPPLIES AND MATERIALS
Exports
4 I I I 1 I I I I J M l l M l l .
And Government-Financed Shipments KeepFOODSTUFFS Trade at Near-Balance
FOODSTUFFS
k Exports
1954 56 58 60 60 61 62
Annual Quarterly*
* Seasonally Adjusted, at Annual Rates
Basic Data: Census
U.S. Department of Commerce, Office of Business Economics 61-12-13
steadily since 1959 and accounted formuch of the total recorded outflow inthe past 2 years.
Direct investments—two-fifths toEurope
In the first 9 months of this year,outflows of direct investment capitalwere over $200 million above thecorresponding period of 1960, an in-crease of about 20 percent. The largestyear-to-year rise has been in theMiddle East, where oil production rosesubstantially.
Latin American countries are alsoreceiving more capital this year, pri-marily because of outflows to miningcompanies in contrast to sizable flowsback to the United States in 1960.However, based on the very partialdata now available, it appears thatmanufacturing investments may belower in some Latin American countries.
Direct investments in Canada werecut back in the third quarter by anunusally large inflow of capital from aCanadian subsidiary to its U.S. parentcompany; other flows are running atabout the same rate as in the pastseveral years.
European countries continue to re-ceive a large share of the total outflow,about 40 percent for the first three quar-ters of the year. In the third quarter themovement both to the United Kingdomand to continental Europe increased;for the first nine months new invest-ments in the United Kingdom were lessand in the Continent substantiallyhigher than in 1960. Switzerland at-tracted more capital, largely by petro-leum companies, to finance their Euro-pean operations.
In general, the somewhat higherdirect investment flow so far this year,as compared with 1960, is in line withearlier projections of foreign plant andequipment expenditures, published inthe September Survey of Current Busi-ness, but there are some interestingvariations. For the Common Marketcountries, the capital outflow is up byabout 20 percent, while projectedcapital expenditures were up by 35percent, probably indicating increasedreliance on internal financing and localcapital facilities. In the United King-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
20 SUKVEY OF CURRENT BUSINESS
[Millions of dollars]
December l<*;i
Table 2.—United States Balance
Line
1
2
.3
4
•5€
789
101112
1314
1516
171819
2021
2223
'24
25
26
272829
30
3132333435
363738394011
42
4344
4546
-47
€8
19
I
II
III
Type of transaction
Exports of goods and services
Goods and services transferred undermilitary grants, net
Goods and services excluding transfersunder military grants
Merchandise, adjusted, excludingmilitary
TransportationTravelMiscellaneous services:
PrivateGovernment, excluding military
Military transactionsIncome on investments:
Direct investmentsOther private..Government
Imports of goods and servicesMerchandise, adjusted, excluding mili-
taryTransportation-Travel -
Miscellaneous services:PrivateGovernment, excluding military
Military expenditures.Income on investments:
PrivateGovernment
Balance on goods and servicesExcluding transfers under military
grantsUnilateral transfers net, [to foreign
cou n tries ( — ) ]Excluding military transfers. _ ._
Private remittancesGovernment:
Military grants of goods and servicesOther grantsPensions and other transfers
U.S. capital, net [increase in U.S. as-sets( )]
Private, netDirect investments netNew issues of foreign securitiesRedemptionsTransactions in outstanding foreign
securitiesOther long-term, netShort-term, net -
Government net __ _ .Long-term capitalRepaymentsForeign currency holdings and short-
term claims net [increase ( — )]
Foreign capital net [increase in U.S. lia-bilities (+)].
Direct investments in the United States-Other long-term investments in the
United States (mainly in U.S.private securities).
Foreign commercial creditsIncrease in U.S. liquid liabilities (for
details see table 3).
Gold and convertible currencies pur-chases (— ) and sales (+) by monetaryauthorities.
Reduction in gold and convertible cur-rency holdings (line 47) and increasein U.S. liquid liabilities (line 46).
Errors and omissions and transfers offunds between foreign areas [receiptsby foreign areas (— )], net.
Memorandum items:Increase in reported total foreign gold
reserves and liquid claims on theUnited States.2
Through estimated net receipts from, orpayments (— ) to the United States.3Through other transactions *
All areas
1960
I
6,796
443
6,353
4,607429192
3363658
51711860
5,769
3,830432278
14964
767
148101
1,027
584
— 1, 022—579
—142
—443—381—56
—875—651—303— 295
22
12
—90—224—238
155
—141
771
11176
—6590
50
640
49
813
631
182
II
7,584
622
6,962
4,994470249
33936
122
56513057
6,074
3,857540470
15068
756
14786
1,510
888
—1,253—631
—164
—622—418
—49
— 1, 110—724—331— Ill
26
—67
—164—386—353
117
—150
887
29121
—57794
94
888
—128
1,098
878
220
III
6,941
282
6,659
4,676475311
3494370
52012887
6,057
3,550544668
168109798
14377
884
602
—900—618
—154
—411—53
—1,075—924—327— 66
21
JQ
25—448—151—234
178
—95
571
23(x)
—6554
637
1,191
—117
1,316
1,186
130
1961
I
7,210
312
6,898
5,009413197
3543870
61314262
5,322
3,407428275
15286
759
14669
1,888
1,576
—1,012—700
—155
—312—490
— 55
—1,400—980—464
— 8822
— 79
—448—420—420
100
—100
187
2698
—12
346
334
<
468
329
139
IP
7,593
572
7,021
4,912455245
36839
150
60116091
5,610
3,458503454
15275
761
14562
1,983
1,411
—1,281—709
—162
—572—488
—59
513—926—380—220
23
—43—31
—275413
—308825
—104
536
33158
84261
—330
—69
—395
191
—78
269
ID>
na
na
6,743
4,670453295
35840
120
58715862
6,170
3,685524712
162149725
14568
na
573
na—678
155
na—467
—56
1 019—588—350—80
16
—57
—109—431—503
81
c
635
11
—11637
269
906
220
1,132
899
233
Western Europe
1960
II
2,657
323
2,334
1,67720931
1561389
1053024
2,234
1,081277218
10019
397
9448
423
100
—482—159
- 74
—323—65—20
—267—268—110
— 33
—2442
—1761
—3832
590
9100
—56537
48
585
—312
995
273
722
III
2,412
141
2,271
1,66020435
1601348
832741
2,169
913284280
10318
434
9443
243
102
—300—159
74
—141—62
23
—338—391—200
fir^
-20—108
53—71
101
23
176
161
—16175
577
752
—358
988
394
594
1961
IP
2,648
274
2,374
1,65620335
16714
100
1153648
2,040
935268197
10018
392
9733
608
334
—435—161
—274— G2
25
403—234—136—31
1
—22—26—20
637—63
709
c
315
22119
61113
—362
-249
—529
76
—778
854
III'
na
na
2,193
1,52619537
1651480
1243616
2,178
994275287
10120
368
9538
na
15
na—164
na—65
25
167—115—211
2
1980
—52—62
15
1,130
f
—161,144
370
1,514
—1, 184
2,014
330
1,684
Eastern Europe
1960
II
50
50
462
(x)
2(x)
(x)
25
2113
(x)(x)
25
25
—7— 7
$
—1(x)
—272
3—1
—29— 2
1
—28
11
(x)11
11
—2
11
c
^
III
Gl
61
502
(x)
2(x)
7
25
21(x)
3
1(x)
36
36
_7
— 1— 1
—22—3
—1—2
—19— 1
6
—24
—10
(x)—10
—10
3
—10
—7
—3
1961
IP
53
53
432
(x)
2(x)
6
24
22(x)
(x)1
(x)
29
29
—1—1
12— 7
—1
—6—5
(x)6
—11
3
3
3
—13
3
—10
13
Hip
22
22
181
(x)
2(x)
1
25
21(x)
3
1(x)
0
0
—8
—6
— 1— 1
64
42
(x)
1
—2
—2
—2
7
2
5
—7
Canada
1960
II
1,390
1,390
1,04830
126
341
10
8952
993
7443175
81
89
378
397
397
—12—12
. . ,4
--8
—219—221—116
15
9—47
2
2
136
191
4112
112
—302
71
—190
261
III
1,239
1,239
87031
161
3557
7852
1,126
73532
215
111
96
29
113
113
—11—11
4
—179—182—102
7
— 125
—1113
3
111
4—12
1118
118
—34
103
84
19
1961
IP
1,345
10
1,335
97030
130
41(x)
13
9160
990
7382983
101
90
32
355
345
—16—6
i
—10
c
—305—307—73
—11015
—223
—1202
2
238
83
1226
226
—272
248
—46
294
III"
na
na
1,277
90031
150
40(x)
18-
7860
1,215
82732
230
101
76
327
na
62
na—11
—3
na
—8
—119—119—25— 50
8
—26—6
—20
—31
8—16
2—25
—25
99
—4
74
—78
Latin Americanrepublics
1960
II
1,364
23
1,341
9267373
6269
1522218
1,205
97640
111
371515
74
159
136
—69—46
17
—2307
—130—12—30
3
1—117
131—118—147
54
—25
37
4
—437
1
38
2
—111
40
—151
III
1,311
15
1,296
8587881
67
3
1602220
1,110
86440
113
491616
84
201
186
—57—42
—14
—15—25
g
146—130—28— 30
10
—3—36—43—16—49
40
—7
j
— 12
6—8
36
28
—33
—64
—5
—59
1961
IP
1,255
19
1,236
8086765
6875
1732617
1,024
80540
103
361715
71
231
212
—79—60
—17
—19—40—3
358
—117
1
1—9132
—43—76
50
—124
313
4—144
—6
—150
13
—160
—137
—23
III
na
na
1,291
8777477
66
1392818
1,010
76339
119
471716
81
na
281
na—86
—14
na—69—3
404—183—17
2
4—38
—134—221—177
29
-73
173
n10
2163
8
171
28
160
199
—39
» Revised. * Preliminary. na Not available. nss Not shown separately. x Less than $500,000.* Transactions with shipping companies operating under the flags of the Bahamas, Honduras, Liberia, and Panama are included under "unallocated."2 Changes in reported total gold reserves of foreign central banks and governments (including international organizations but excluding the countries of the Soviet bloc), net of converti-
Me currencies held by U.S. monetary authorities, plus foreign liquid claims on the United States.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
De<vmber 196.1.
of Payments by Area
SURVEY OF CURRENT BUSINESS
[Millions of dollars]
21
All other countries l
1960
II
2,054
276
1,778
1,29711419
681614
2191615
1,459
1, 0256663
525
255
911
595319
-666-390
-63
-276-308-19
-438j
-196-82-28
-14-71
-242-166
30
-106
49
li.
35
35
70
425
t
49b
—486
III
1,849
126
1,723
1,23812034
691812
1961719
1,445
1, 0126957
528
252
1210
404278
-496-370
-57
— 126-294-19
-350
-17634
-35
-184-174-113
29
-90
125
11*
19
133
298
85
431
—346
1961
IP
2,205
269
1,936
1,43511415
731815
2212520
1,385
9496170
628
255
9
820551
-714-445
-65
-269-355-25
-566
-394-54-72
1c
1-261-172-169
60
-63
61
(x)19
1824
29
53
370
—21
423
—444
Hip
na
na
1,890
1,34911531
681915
2422427
1,527
1,0736873
429
263
10
na363
na-370
-58
na-293-19
-366
-203-112-30
-41
17-39
-163-264
33
68
—218
—22^
34
in/
557
—181
367
—548
International institutions andunallocated
1960
II
69
69
42
17
(x)
(x)10
158
10125
8
(x)15
-89
-17-17
-17
-29
213
4-37
(x)
(x)
64
62
10
72
61
123
123
III
69
69
40
16
(x)
310
182
119
45
(x)13
-113-113
-29-29
-29
-40
-42-31
-12
2
(x)
170
(x)16o
(
170
214
172
42
1961
IP
87
87
39
17
17
113
147
9105
109
(x)14
-60-60
-30-30
-30
8(x)
1(
—6
—6
43
39
48
36
45
75
—30
in>
70
70
37
17
2
410
215
7110
812
15
-145-145
-39-39
-39
31
2815
11
j
3
—417
—419
—143
—562
713
—855
144
—999
Sterling area
Total
1960
II
nss
nss
1,361
9259319
11275
1711514
1,119
66111781
7811
114
498
nss242
nss-103
-32
nss-66
-392
-241-92— 17
14
-151-151-81
19
—89
369
2/
1C
35o
13
368
JOl
400
239
16
III
nss
nss
1,327
9349829
11389
117127
1,051
58011988
8011
116
498
nss276
nss-110
-30
nss—76
-326
-195-57— 12
-16
-107-131—r
10
—70
172
—10
—10184
200
384
—212
309
172
137
1961
IP
nss
nss
1,143
7288520
11886
1461616
1,045
59411784
8011
114
387
nss98
nss-120
-34
nss-81
-231
-130-93—26
-8
-101-78
13
—36
12
1824
— &
—224
—258
465
—297
207
—504
III*
nss
nss
1,187
7498435
11686
1611513
1,114
653115100
7811
110
3710
nss73
nss-117
-30
nss-82
-230
-171-174
1C
1-30
c
52-59
-13013
58
1,016
—6
1,018
55
1,073
—797
833
276
557
United Kingdom and other Europe
1960
II
nss
nss
602
366579
8132
64128
628
28310244
762
67
477
nss-26
nss-20
-17
nss
«-3
-165
-170-63
18
19-144
5— 1
7
-1
378
816
—20374
374
-167
449
207
242
III
nss
nss
591
3915611
8234
359
(x)
580
21810253
781
74
47
nss11
nss-19
-16
nss(x)
-194
-196-81
-18
-9|
(x)"1
197
1—10
21(
200
410
—195
360
215
145
1961
IP
nss
nss
503
2575712
8434
69107
531
20910339
761
61
366
nss-28
nss-21
-18
nss
-25
-30-5(
275
(x)
—19
1816
—225
—282
318
—282
36
—318
III*
nss
nss
521
2875515
8533
6310
(x)
572
24010154
761
56
359
nss-51
nss-18
-15
nss(x)
-51
-57-91
— i
376
(x)
950
957
55
1,012
—885
757
127
630
Other countries
1960
II
nss
nss
759
5593610
3143
10736
491
3781537
29
47
21
nss268
nss-83
-15
nss-66
— 2
-227
-71-29-17
— 4
-14
-156-80
12
-88
(x)8
—19
13
—6
38
—49
32
—81
III
nss
nss
736
5434218
3155
8237
471
3621735
21042
21
nss265
nss-91
-14
nss-76-1
-132
124
-12
-11-133-70
10Ijr
—25
—26
—26
—17
—51
—43
1961
IP
nss
nss
640
471288
3452
7769
514
3851445
41053
21
nss126
nss-99
-16
nss-81
-206
-100-37-26
-&-106-78
(
-37
31
(x)
23
24
147
—15
171
— 186
III"
nss
nss
666
4622920
3153
985
13
542
4131446
21054
nss124
nss-99
-15
nss82-2
-179
-114-83— 15
1-27
-515
-65-129
13
51
66
5
61
61
88
76
149
— 73
Line
1
2
3
456
7&9
101112
13
141516
17lg19
2021
2223
2425
28
2T2829
mai32333435
3637383940
41
42
4344.
45'46
4?
48
49
I
nin
3 For "All areas" equals balance (with reverse sign) of line 23 (less net sales of gold by domestic sources to (+) or purchases from (—) the monetary gold stock of the United States),plus lines 25, 30, 43, 44, 45, and 49. Domestic sales to (+) or purchases from (—) the monetary gold stock were in millions of dollars: 1960 I, -9; II, -10; III, -5; 19611, -5; II, -9; IIIW—7. For individual areas, line 49 is not included.
* Line I minus line II for all areas represents gold obtained by foreign central banks and governments outside the United States.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
22 SURVEY OF CURRENT BUSINESS December 1961
dom the capital outflow has been re-duced although the projections alsoindicated a strong upward trend incapital outlays. It is possible, of course,that unsettled conditions in Europethis year, and some slowdown in gen-eral economic expansion there, mayhave caused some delay in investmentprojects.
Some weakening in capital move-ments to Canada was indicated by ex-pectations for plant and equipmentexpenditures, but in Latin America thecapital flow figures suggest there mayhave been some cutbacks from earlierplans.
The current rate of outflow for directinvestment abroad is a significant fac-tor in the overall balance of payments,and it may be worthwhile to examinethe evolution of this item over therecent past. From 1950 through 1955the annual amount stayed close to theaverage of $0.7 billion. Beginning in1956 the magnitude of the total out-flow and the year-to-year fluctuationsrose sharply. From 1956 through 1960the average reached $1.7 billion peryear, with a peak of $2.5 billion in 1957when a combination of circumstancesraised the flow to all industries, espe-cially petroleum, and a low point of$1.2 billion in the following year.
Capital flows for investments in thepetroleum industry reached a high in
1956-57 and have since remained wellabove previous levels. Substantiallyhigher investments have also been madein manufacturing operations. In bothcases a major share of the increase incapital went to Europe, bringing a sig-nificant shift in the direction of capitalflows toward that area.
For the petroleum industry a higherproportion of investment outlays in re-cent years has been in the refining,petrochemical and distribution phasesof the industry, although the develop-ment of a new producing area in NorthAfrica has also become important.Europe is the main focus of these oper-ations, and since it is the principal mar-keting area, also absorbs large amountsof working capital as receivables andinventories increase.
Growth of investments in Europe
The capital outflow for manufac-turing has risen from an annual averageof $140 million in the 1950-55 period tonearly $450 million in 1956-60, andfor Europe the increase has been froman average of less than $20 million toover $200 million. The European por-tion has been augmented by severallarge cash purchases to enlarge existinginterests, mainly in the United King-dom. Aside from these transactions,the most consistent rise has been in theflow to the Continental countries.
Table 3.—-Changes in Gold and Convertible Currency Holdings by U.S. Monetary Authori-ties and in Liquid Liabilities
Changes in gold and convertible currency holdings by U.S. mone-tary authorities and in liquid liabilities *
Cold and convertible currencies [purchases (— ), sales (-K]Liquid liabilities, total (increase -j-) -
By foreign holders:International Organizations
Intornationai Monetary FundOther
Foreign central hanks and governments, tot a' _ _ - ~As reported by U.S. banksOther . - -
Vorei°'ii commercial banksOther foreigners and undetermined _. . .
By types of liabilities:Deposits in U S banksU.S. Government obligations:
Rills and certificatesBonds and notes -- - -Other -- ... --
Bankers acceptances, commercial paper, etcLiabilities payable in foreipn currencies _ - _ _ .Other liabilities
Calendaryear 1900
3, 923
1,7022 227
1.021741280
1 , 240I , 170
105-139
1,241
6041261803536
Quarters not seasonally adjusted
1960
I
640
50590
1921108242
-14618S457
-101
-163
9124182443
II
888
94
G281
-19547591
-4413253
970
-10156
-40-132
14
III
1, 191
637554
16510263
441494-53
5-57
454
387- 185
4-111
34—29
IV
1,210
92128!)
602448154210231
-21-489-34
-20
30913134
-165PJfj
19fil.
I
334
346—12
86256132
-1850
-15-115
101
-155206
16-177
_2— 1
II | III
—69
—330261
39n28
-324
-51414132
536
-293-94
2383466
906
269637
-419-483
64895893
2145
16
521
-56202
-4665
-49
'.. Corresponds to line 48 in Balance of Payments table p. 20 and to third line from bottom of analysis table p. 16 exceptfor seasonal adjustment.
Both the petroleum and manufac-turing industries, which account for alarge part of the capital outflow fromthe United States, have indicated thatthey intend to continue to expand theirproduction facilities abroad at the cur-rent rate at least through 1962, withEurope the most attractive area. Thusthere is little reason to expect the rateor pattern of foreign investments tochange markedly in the short run,although changes in international cap-ital markets may induce further shiftsin their financing and consequently inthe movement of funds from the UnitedStates.
Other Long-Term Investments
Sales of new foreign bonds in the U.S.market were less than $100 million inthe third quarter, continuing the rela-tively low volume characteristics sinceearly in 1960. Large Canadian publicofferings have been discouraged as amatter of policy in that country, andthe International Bank is lookingmainly to other countries for financingin view of the deficit in the U.S. balanceof payments. For 1961 as a whole salesof new issues are likely to be less than$500 million.
These capital outflows have declinedconsiderably since 1958, when a peakof nearly $1 billion was readied asborrowing costs through long-term bondissues here were sharply reduced. Al-though interest rates arc now tendingto rise in the United States, borrowingcosts here are still considerably lessthan in most financial centers abroad,and the U.S. market can more easilyabsorb borrowings of substantial size.This accounts for the continuation ofissues sold here by a number of foreigncountries, notably Japan, and for thesale here in the second quarter of largeissues to finance the Canadian naturalgas industry. A return to substantiallyhigher purchases of new issues doesnot seem likely in present circum-stances, but a further reduction prob-ably will not occur unless borrowingcosts here rise considerably.
American purchases of foreign cor-porate stocks turned downward some-what in the third quarter from theunusually high second quarter amounts.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS 23
The immediate reason for the reduc-tion in capital flow was a general weak-ness in foreign securities markets,related both to the Berlin crises andsome levering off of industrial activity.This was in contrast to increasedactivity and rising markets here.
U.S. MERCHANDISE TRADE BY AREA
Overall Trade Surplus Declines During 1961
Export Balance Remains Strong With Japan—Shows Improvement With Latin America—Reduced in Other Major Areas
Billion $
JAPAN
I I I I I I I I I I I I I I t I I I I I I I I I I I I I I t I I I I I I > I I I I ! I
-LATIN AMERICA
WESTERN EUROPE
CANADA
ALL OTHER
1954 56 58 60 62 64
Quarterly, Seasonally Adjusted, at Annual Rates
Basic Data: Census
U.S. Department of Commerce, Office of Business Economics 61-12-14
The current rate of investment inthese foreign equity securities is about$200-$250 million per year. A postwarhigh of about $300 million occurred in1958, spurred mainly by the beginningof sharp rises in stock prices in theNetherlands and other European mar-kets. Outflows were somewhat reducedin 1959, and then dropped to less than$100 million in 1960 when some of theprior investments in British and Cana-dian equity securities were liquidated.
So far in 1961, most of the gain over1960 has been related to resumed pur-chases of British and Canadian issues,together with larger flows to France,Germany, Switzerland, and Australia.The flow to the Netherlands remainssubstantial, although not as large as inthe past few years.
Movements of short-term funds
Outflows of private short-term capi-tal dropped in the third quarter toabout $100 million, the $165 milliondrop from the second quarter being lessthan seasonal, however.
Recorded outflows subsided from anannual rate of over $2 billion in the lasthalf of 1960 and the first quarter of1961, to a seasonally adjusted annualrate of about $700 million in the secondand third quarters of 1961. The lesseroutflow in the third quarter reflectsmainly the decline in flows to Canadaresulting, in part, from a seasonal de-cline in interest rate differentials, fromthe liquidation of some short-termassets outstanding in Europe, and alsofrom the cessation of short-term financ-ing provided to Japan by U.S. banks.Partly offsetting these movements wasa renewed outflow to Latin America, incontrast to a sizable inflow in the secondquarter when bank financing to Vene-zuela was reduced, in part by paymentsreflected in the direct investmentaccounts.
Decline in foreign investments inU.S.
Foreign purchases of U.S. corporatestocks which had provided a measureof strength to the balance of paj^mentsthrough the first half of the year de-clined abruptly in the third quarter.The net change from the second quar-ter to the third at an annual rate wasover $500 million.
For the past several years foreignpurchases of U.S. corporate stocks havetended to move in accordance withchanges in security prices here, risingstrongly from early 1959 through theend of that year, and turning upwardagain late in 1960 as stock prices begana steep climb. In the third quarter,however, foreign transactions in U.S.stocks did not conform to these pastrelationships. Although various cir-cumstances may have been responsiblefor this deviation, a renewal of inflowsof considerable size seems quite likely.
Another negative factor in the thirdquarter balance of payments was asmall liquidation of commercial creditsextended from abroad, compared withsizable inflows in the first half of theyear. For this item, the net changefrom the second to third quarters, at anannual rate, was nearly $400 million.
Financing of this kind has been vola-tile in the past, and an evaluation ofthese flows is especially difficult. Mostof the quarter-to-quarter change was inEurope; the second quarter inflow in-cluded some borrowing from Switzer-land, where interest rates are relativelylow. In the third quarter such capitalmovements were very small, but theinformation is not yet complete.
The rise in domestic business activityand a slackening rate of expansion inother industrialized countries should beexpected to stimulate the movement offoreign capital to the United States andreduce the outflow of U.S. capital, sothat the improvement in the capitalbalance should, at least in part, offsetthe deterioration in the balance ongoods and services.
Pattern of Retirement(Continued from p. 13)
"earned" income. In each case thisresulted largely from federally sponsoredprograms (TUC and TEC), which pro-vided emergency extension of benefitsfor those unemployed persons exhaust-ing their normal benefit rights underthe regular unemployment programs.
In the second quarter of 1958, theinitial period following the 1957-58trough in earned income, unemploy-ment rates rose sharply so that pay-ments under the regular unemployment
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
24 SURVEY OF CUREENT BUSINESS December 1961
insurance programs also rose substan-tially. In the next quarter these bene-fits fell off, but benefits paid under thetemporary supplemental TUG, at anannual rate in excess of $1 billion afterseasonal adjustment, caused the totalto rise again.
In the most recent recession theFederal Government again adopted atemporary measure (TEC) for emer-
gency extension of benefits. Paymentsunder this program of about $1 billion,at an annual rate, in the second quarterof 1961, accounted for the entire ad-vance in total unemployment benefitsafter the cyclical bottom.
While unemployment insurance bene-fits and civilian retirement receiptshave complemented each other duringcontractions and in the early stages of
recovery, they have moved in oppositedirections in the later stages of ex-pansion. Unemployment benefits inthe past have fallen off very sharplyafter one or two quarters of recovery,but the continued advance in the othermajor series has kept the total of suchincome from falling for more than oneor two quarters.
REVISED ESTIMATES OF RETAIL INVENTORIESThe series on the book values of inventories
held by retail stores has been revised back to1946, to incorporate adjustments to the year-end estimates presented in the 1952-60 Re-tail Trade Annual Reports of the Bureau ofthe Census, to the latest (1957) StandardIndustrial Classifications of the Bureau of theBudget, and to include Alaska and Hawaii.The new series are directly comparable tothe published estimates of sales of retailstores. There has also been a revision in theseasonal factors for each line of trade.
While the amount of inventory revisiondiffered in the various years, most of the
divergence of movement affects the periodsince 1958. In October 1961 the total up-ward revision in inventories amounted to$1}̂ billion, or 6 percent. Most of the ad-justment is in the estimates of stocks held byapparel stores, and by the "all other" non-durable goods group where the figures basedon the sample of reporting units are subjectto particularly large sampling variability.
The yearend inventory estimates are basedon sample surveys conducted by the Bureauof the Census. The sample of establishmentsconsists of about 36,000 firms operatingabout 125,000 retail stores. A more complete
description of the sample design appears inthe 1960 Retail Trade Annual Report of theBureau of the Census. The monthly esti-mates are based on reports of a subs ample ofthese firms and the Federal Reserve Boardmonthly data on department stores' stocks.
The following table presents revised esti-mates for the December 1957-December 1960period, and figures for 1961 appear on pageS-ll of this issue. Pages S-4 and S-5 carryrevised stock-sales ratios and the new data onmanufacturing and trade inventories, whichare affected by the new estimates of retailstocks. Back data are available upon request.
Inventories of Retail Stores, by Kind of Business—Revised Series
[Billions of dollars]
End of period
1957:Dec
1958:JanFebMarAprMayJune _ _
JulyAugSeptOctNovDec.— _
1959:JanFeb ._Mar .AprMayJune -_
JulyAugSeptOctNov _ _Dec _
1%0:JanFebMarAprMayJune
JulyAugSeptOctNovDec
Allretailstores
Durable goods stores
TotalAuto-
motivegroup
Furni-ture and
appliancegroup
Lumber,building,hardware
group
Nondurable goods stores
Total Apparelgroup
Foodgroup
Generalmer-
chandisegroup
UNADJUSTED FOR SEASONAL VARIATION
23.40
23.2623.8924. 5724.5524.2623.74
23.4523.4923.7224.2324.8423.21
23.4824.1924.9325.5925.3725.15
25. 2025.2925.1626.0626. 2324.41
24.6825.7427.0627.0227.0926.65
26.4726.4126.5827.4928.0825.98
10.86
10.9511.1211.3411.2111.0910.74
10.4910.199.879.84
10.2610.21
10.5010.8211.2311.6011. 6511.60
11.6711.2610.6311.1211.0010.74
11.2511.8612.3312.4112.5012.35
12.1811.7111.3011.8312.1111.72
4.37
4.514.644.684.524.374.10
3.913.553.153.073.423.87
4.174.374.594.834.904.84
4.934.443.744.093.843.99
4.545.045.335.365.445.32
5.204.664.214.634.794.88
1.86
1.831.821.881.881.911.87
1.831.861.921.971.991.83
1.831.851.891.901.911.90
1.881.911.962.012.051.91
1.881.921.962.001.991.98
1.982.002.022.052.081.90
2.28
2.302.362.462.462.472.44
2.422.402.402.372.362.31
2.312.352.442.482.492.46
2.452.422.402.392.372.36
2.392.462.512.522.542.50
2.442.412.412.402.382.35
12.54
12.3212.7713.2313. 3413.1713.00
12.9613.3013.8514.4014.5713.00
12.9713.3713.7113.9913.7113. 55
13.5214.0314.5214.9315.2213.68
13.4213.8814.7314.6114.5914.29
14.2914.7015.2815.6515.9714.26
2.80
2.682 862^982.972.882.75
2.752.923.173.253.222.78
2.782.953.063.143.012.97
2.943.273.423.443.483.02
2.893.103.383.233.233.08
3.093.343.593.643.683.16
2.85
2.802.862.922.932.912.94
2 902. 882.893.013.042.94
2. 882.892.912.952.952.94
2.952.912.953.033.072.97
2.942.983.093.103.113.08
3.063.033.053.143.193.14
3.44
3.423.603.773.823.743.64
3.643.754.024.324.403.49
3.523.683.904.003.893.81
3.854.054.314.524.683.81
3.753.974.264.254.214.13
4.174.344.574.764.913.89
Allretailstores
Durable goods stores
TotalAuto-motivegroup
Furni-ture and
appliancegroup
Lumber,building,hardware
group
Nondurable goods stores
Total Apparelgroup
Foodgroup
Generalmer-
chandisegroup
ADJUSTED FOR SEASONAL VARIATION
24.57
24.2024.1024.0623.8623.8023.81
23.7423.6623.8023. 7823. 9724.29
24.4024.4424.4124.8824.8925.16
25.4125.4725.3225.7625. 4125.54
25.6526.0126.4226.2626.5626.62
26.6926.5826.8227.2327.3627.18
11.41
11.1110.9610.8810.6410.5810.50
10.3810.3110.3810.2810.4410. 71
10.6510.6810. 7811.0211.1111.27
11.4811.4211.2711.7111.2611.27
11.4111.6911.8211.7911.9011.97
11.9811.8612.0412.4712.5212.33
4.64
4.414.334.254.073.973.88
3.753.663.683.663.854.14
4.074.074.154.364.434.54
4.704.614.424.854.364.32
4.444.704.824.804.904.96
4.954.835.025.435.485.27
1.92
1.901.871.871.861.881.88
1.871.881.901.901.891.88
1.901.901.901.891.901.91
1.921.931.931.941.951.96
1.951.961.971.981.992.00
2.012.011.991.981.971.95
2.40
2.382.382.392.372.382.38
2.392.412.432.412.412.41
2.382.372.382.402.402.40
2.432.432.422.432.432.45
2.462.472.462.442.442.45
2.422.422.432.442.442.44
13.16
13.0913.1413.1813.2213.2313.32
13.3613.3513.4213.5013.5313.58
13.7413.7613. 6313.8613.7813.88
13.9314.0614.0514.0514.1514.27
14.2414.3214.6114.4814.6614.65
14.7214.7214.7814.7614.8514.85
3.03
2.962.972.942.932.932.91
2.942.882.922.942.952.97
3.063.053.003.103.073.14
3.133.213.163.133.183.22
3.173.213.313.223.293.26
3.293.283.323.323.373.36
2.85
2.862.892.922.932.902.93
2.922.932.922.942.932.95
2.942.932.902.932.932.94
2.972.962.972.972.982.98
3.013.033.073.073.083.08
3.073.083.083.093.113.14
3.84
3.803.813.783.773.762.78
3.783.763.803.843.843.86
3.903.903.903.963.943.96
3.994.054.074.064.104.18
4.164.204.254.224.274.30
4.334.324.314.294.304.26
Source: U.S. Department of Commerce—Office of Business Economics and Bureau of the Census.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
BUSINESS STATISTICSJ. HE STATISTICS here update series published in the 1961 edition of BUSINESS STATISTICS, biennial Statistical Supplement to the SURVEY
OF CURRENT BUSINESS. That volume (price $2.00) contains data by months, or quarters, for the years 1957 through 1960 (1951-60, for majorquarterly series) and averages of monthly or quarterly data for all years back to 1939; it also provides a description of each series and referencesto sources of earlier figures. Series added or significantly revised after the 1961 BUSINESS STATISTICS went to press are indicated by an asterisk(*) and a dagger (f), respectively; certain revisions for 1960 issued too late for inclusion in the aforementioned volume appear in the monthlySURVEY beginning with the July 1961 issue. Except as otherwise stated, the terms "unadjusted" and "adjusted" refer to adjustment for seasonalvariation.
Statistics originating in Government agencies are not copyrighted and may be reprinted freely. Data from private sources are providedthrough the courtesy of the compilers, and are subject to their copyrights.
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1958 | 1959 1960
Annual total
1958
IV
1959
I II III | IV
1960
I II III IV
1961
I II III IV
Seasonally adjusted quarterly totals at annual rates
GENERAL BUSINESS INDICATORS—Quarterly Series
NATIONAL INCOME AND PRODUCT
National income, total _ . bil. $
Compensation of employees, total do
Wages and salaries, total _. _ doPrivate doM ilitary doGovernment civilian __ do
Supplements to wages and salaries do
Proprietors' income, totaled _ _ doBusiness and professionalcf - - doFarm do
Rental income of persons- _ doCorporate profits and inventory valuation adjust-
ment, total hi! $
Corporate profits before tax, total _ doCorporate profits tax liability doCorporate profits after tax _ _ _ do
Inventory valuation adjustment do
Net interest do
Gross national product, total - __ _ do
Personal consumption expenditures, total do
Durable goods, total 0 doAutomobiles and parts doFurniture and household equipment _.do
Nondurable goods, total© __ _ d o _ _Clothing and shoes doFood and alcoholic beverages.. _ _. do __Gasoline and oil. . _ _ do
Services, total©— _ doHousehold operation doHousing _ _ _ _ _ _ _ _ _ _ _ _ _ d oTransportation __ __ do
Gross private domestic in vestment, total do
New construction doProducers' durable equipment . doChange in business inventories do-_ _
Net exports of goods and services doExports doImports do
Government purchases of goods and services, totalbil. $..
Federal (less Government sales) __. doNational defense 9 _ _ do
State and local do ..
By major type of product:*Final sales, total do
Goods output, total doDurable goods output doNondurable goods output _. do
Services _ _ _ ___ ... doConstruction _ _ do
Inventory change, total, doDurable goods output „ _ _ _ doNondurable goods output do
367.4
257.1
239.8196 6
9 833.5
17.3
46.132.513.512.2
37 2
37.418.618.8— .3
14 8
444. 5
293. 2
37 313.917.4
141. 6
76.610.5
114.316.937.79.2
56.6
35.523.1
-2.0
1.222.721 5
93.552.644.840.8
446.5231.483.3
148 1164.250 9
-2.0-2.8
.9
399.6
278.4
258. 5213 2
9 935.4
20.0
46.335.011.311.9
46.4
46.823. 123.7— .5
16 6
482.8
314. 0
43 518.118.9
147.327 478.011.0
123.218.139.910.0
72.4
40.225.96.3
-.723 123 8
97.153.546 243.6
476.5244 091.3
152 8176. 256 3
6.33.62.6
417.1
293.7
271.3223. 0
9 938.5
22.4
48.236.212. 011.7
45.1
45.022.322.7
. 0
18 4
504. 4
328.9
44. 318.618.8
152.428 180.111.6
132. 219 642.210.5
72.4
40.727.54.2
3.026 723 6
100.152.945 547 2
500.2254 394.3
160 0189.356 6
4.22 51.8
381.7
263.7
245.8201 5
9 934.4
17.8
46.533.512.912.1
43.8
44.722.322.4— . 9
15 6
460. 6
299. 8
39 51 5. 617.8
143.226 276.910.6
117. 117.238. 59.4
63.6
36.923.43.3
.422.722 3
96.754.345 542.3
457.3234 384.0
150 2169 653 5
3.31 41.9
390.7
270.6
251.4206.7
9 934.8
19.2
46.634.112.512.0
45.3
46.122.823.4-.9
16.2
472.2
305. 8
41.617.218.0
144.926 577.410.7
119.417.539.39.5
70.4
39.024.37.1
-.622.122 7
96.753. 245 943.5
465.2238 388.1
150 2170 756 2
7.15 41.7
405.2
280.0
260.1215.0
9 935.3
19.9
46.735.211.511.9
50.2
51.525.426.1
-1.3
16 4
488. 5
313. 6
44 519.018.9
147.327 878.110.9
121.917.839.89.8
79.1
41.226.311.7
-1.722.324 0
97.553.946 543.6
476.8244 692.4
152 2174 258 1
11.78 82.9
399.4
280.5
260.3214.8
9 935.7
20.2
45.935.310.611.8
44.4
44.822.122.7— .4
16.7
482.3
316.5
44.418.419.2
147. 727 677.811.1
124.418.240.110.2
68.2
41.026.6
.7
-.524.024 5
98.154.146 344.0
481.6247 193.6
153 5177 656 9
.7—2 0
2.7
402.8
282.4
261.9216 0
9 836.1
20.5
46.135.310.811.7
45.5
44.922.122.7
.7
17 0
488. 3
320.0
43 717.619.3
149.327 878.711.1
127.018 940.510.2
71.8
39.626.65.6
.024 124 0
96.552 945 943.6
482.7246 190.9
155 1182 254 4
5 62 43.2
413.5
290.2
268.3221.4
9 837.1
21.9
46.335.810.511.7
47.4
48.123.924. 2
7
17 8
501.5
323.8
44.718.819.1
150. 528 178.911.4
128.619.241.110.4
78.9
40.927.110.9
1.825 623 9
96.951.845 545 0
490.5250 993.1
157 8183 855 8
10.99 41.5
419.2
294.6
272.4224. 6
9 838.0
22.2
48.636. 412.311.7
45.9
46.323.023.3-.4
18 3
506. 4
329.9
45 319.319.0
153.328 380.611.6
131.219 541.910.5
74.6
40.728 65.4
2.326 724 4
99.652 945 546 8
501.0256 996.3
160 6187 756 4
5 43 91.5
419.0
296.0
273.2224.2
9.939.1
22.7
48.736.312.411.7
44.1
43.221.421.7
.9
18 6
505. 1
329.7
43 417.818.7
152.728 379.911.6
133.619 742.710. 5
70.5
40.427 72.4
3.026 823 8
101.954 045 448 0
502 7254 894.2
160 6191 256 7
2 44
2.0
416.5
294. 0
271.3221.6
10.039.7
22.7
49.036.312.711.7
42.9
42.621.121.4
.3
18 9
504. 5
332. 3
43 818 618.3
153.127 780.811.8
135. 420 043 110.5
65.6
40.726 7
-1.9
5.127 622 4
101.653 045 748 6
506 4254 693.4
161 3194 657 °
—1 9—3 8
2.0
412.2
292.6
270.1219.710.140.3
22.5
48.936.012.911.5
40.0
39.619.620.0
.4
19 2
500.8
330. 7
39 414 817.8
153.727 981. 111.7
137.520 643 610. 5
59.8
39.624 2
—4.0
5.327 622 3
105. 054 747 250 3
504 8249 7
87.4162 3197 957 2
—4 0— 5 8
1.8
426.0
300. 2
277.3226.0
10 141.2
22.9
49.236.312.911.5
45.5
45.222.422.8
.3
19 6
516.1
336. 1
42 016 718.3
154.127 G81.411 7
139 920 944 210 7
68.8
41.324 72 8
3.926 422 5
107.356 048 850 6
513 2254 391.2
163 0201 157 9
2 89
3.' 2
434. 3
306.2
282.7230 7
10 241.9
23.4
c 49.436. 612 811.5
47 o
47.223 323.8
2
20 *}
525 8
341 0
42 316 418.8
156 228 681 911 8
142 421 244 810 9
73 2
42.726 04 5
2 627 024 3
109.067 449 051 6
521 3256 992.6
164 3205 159 2
4 53 5l!i
_ _ _ _ _ _
r Revised. tf Includes inventory valuation adjustment. c Corrected.©Includes data not shown separately. 9 Government sales are not deducted.*For quarterly data back to 1947, see p. 34 of the July 1961 SURVEY.
019486°—61
S-lDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-2 SURVEY OF CURRENT BUSINESS December 1961
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1958 1959 1860
Annual total
1958
IV
1959
I II III IV
1960
I II III IV
1961
I II III IV
GENERAL BUSINESS INDICATORS—Quarterly Series—Continued
NATIONAL INCOME AND PRODUCT— Con.
Quarterly Data Seasonally Adjusted at Annual RatesGNP in constant (1954) dollars
Gross national product, total bil $
Personal consumption expenditures total do
Durable goods doNondurable goods _ . . . doServices do
Gross private domestic investment, total do
New construction doProducers' durable equipment do_Change in business inventories do
Net exports of goods and services do
Government purchases of goods and services, totalbil $
Federal do, _State and local do
DISPOSITION OF PERSONAL INCOMEQuarterly Data Seasonally Adjusted at Annual RatesPersonal income total bil $Less' Personal tax and nontax payments doEquals* Disposable personal income do
Personal savin f § doNEW PLANT AND EQUIPMENT
EXPENDITURESUnadjusted quarterly totals or averages:
All industries bil. $
Manufacturing doDurable good^ industries doNondurable rood** industries do
Mining doRailroads -- - do __Transportation other than rail doPublic utilities .. _ do __Commercial and other do
Seas. adj. qtrly. totals at annual rates:
Manufacturing doDurable goods industries do
IVIining doRailroads doTransportation other than rail doPublic utilities doOonunercial and other ilo
BUSINESS POPULATIONFirms in operation, end of quarter (seasonally ad-
justed) thous
U.S. BALANCE OF INTERNATIONALPAYMENTS
Annual Data Are Quarterly AveragesExports of goods and services, total mil $
Military transfers under grants not doMerchandise, adjusted, excluding military trans-
actions'! mil $Income on investments abroad doOther services and military transactions do
Aterchandise idjusted^o71 doIncome on foreign investments in U.8 doMilitary expenditures doOther services*^ do
Private doGovernment _. do
U.S. long- and short-term capital (net), total. -doPrivate - do
Direct investments doGovernment do
Gold sales [purchases ( — )1 doErrors and omissions -do
401.3
273.2
35. 5133. 3104.4
49.0
31.119.4-1.5
2
79.344.534.8
360.342.3
317.9
24.7
7.63
2.861.371.49
.24
.19
.381.522.45
2 4, 533
6,401
570
4, 066731
1,035
5 263
3, 238169853
1,004
+1 138
—1 155-135
—1,020
-954-711-274-243
+307+569+95
428.4
289.3
41.0138.8109. 5
61.1
34.321.35.5
-2.1
80.143.936.2
3*3. 346. 0
337.3
23.4
8.14
3.021.441.57
.25
.23
.511.422.72
2 4, 583
6, 421
494
4, 071761
1,096
5 884
3, 824208777
1,076
+537
—1 100144
—956
-682-594-343
—88
4-930+183+132
440.8
298.3
41.8141.8114.7
60.6
33.922.74.0
1.7
80.242.338.0
402. 250.4
351.8
22.9
8.92
3.621.801.82
. 25
.26
.481.422.89
2 4, 660
7, 266
441
4, 852801
1,172
5 839
3, 680232762
1,157
+1 434
—1 064-158—905
-1,241-964-424
+607+426-162
413. 6
278. 7
37.5135. 2106.1
54.7
32.J19.53.1
— 1.1
81.245.435.8
368 243.1
325.0
25.2
8.01
2.931.381.56
. 25
.16
.411.722.54
°9. 97
10.584. 86
97.58
1 . 626. 269.96
4,595
6, 666
524
4,196913
1,033
5 446
3, 522188829907
+1 2?0
-1 157j r;-)
—1,005
-893-726-372-167
+ 554+347
— 71
422. 1
283.8
39.2136.8107.7
59.9
33.720.16.2
-2.2
80.744.236.5
374.744.9
329.8
23.9
6.91
2.461.141.31
.21
.16
.411.202, 47
30. 62
11.205.265 94
.95
.631.715.80
10. 33
4,615
5,970
507
3,807633
1,023
5,401
3, 594180780847
+569
— 1,128-135
-494-412-287-82
+858+95
+100
434. 4
289.7
41.7139.3108.8
66.9
35.221.610.1
-3.2
81.044.636.4
384 646.1
338.4
24.8
8.32
3.021.451.57
.2426
.531.472.79
32. 51
11.805.746 06
.941.002. 085. 82
10. 87
4,635
6,453
605
4, 074668
1,106
5 964
3,879193789
1,103
+489
— 1 186-140
— 1. 046
-1,032-738-442-294
+1,042+397+290
426.6
290.8
41.6139.2110.0
57.3
34.721.7
.8
—1.9
80.544.036.5
385 146.4
338.7
22.3
8.32
3.021.441.58
.26
.28
.541.482.74
33.35
12.255.836 42
1.011.282.175. 58
11.06
4,655
6,352
402
4, 058716
1,176
6, 228
3, 847207786
1,388
+124
—949-144
-607-387-224-220
+1,273+167
8
430.7
292.8
41.4140.0111.4
60.4
33.421.95.0
-.9
78.442.735.8
388.946. 6
342.3
22.3
8.99
3.571.741.83
.27
.22
.551.512.87
33. 58
12.876.166.71
1.04.85
2.155.48
11.19
4,670
6,908
460
4,3431,0261,079
5, 944
3, 974250754966
+964
— 1,135-156
-595-838-419+?43
+548+72
+146
441.0
295.4
42.1140.9112.4
66.6
34. 322.49.9
.6
78.441.736.7
395. 549.9
345.7
21.8
7.89
3. 091.551.54
.22
.471.182.69
35.15
14.107.156.95
1.001.002. 005 75
11.35
4,690
6,796
443
4,607695
1,051
5, 769
3,830249767923
4-1,027
-1,022-142
-875-651-303— 224
+771+50+49
443.4
299.5
42.5142.9114.2
62.3
33.923.44.9
1.0
80.642.737.8
403 I50.5
352.7
22.8
9.28
3.761.881.88
.27
.29
. 551.422.99
36.30
14.707.407.30
1.051.102.155.70
11.60
4,710
7,584
622
4,994752
1,216
6,074
3, 857233756
1 , 228
+1,510
-1,253-164
-1,110-724-331-386
+887+94
-128
440.2
298.6
40.8142.0115. 8
58.6
33.622.72.3
1.6
81.342.938.4
405 150.8
354. 4
24.6
8.98
3.621.801.81
.25
.24
.471.502.90
35.90
14.657.357.30
1.001.001.905.60
11.75
4, 725
6,941
282
4,676735
1,248
6,057
3,550220798
1,489
+884
-900-154
-1,075-924-327-151
+571+637-117
438.4
299.6
41.6141.3116.6
54.9
33.922.1
—1.1
3.5
80.341.638.7
405 450.5
354.9
22.7
9.53
4.011.952.06
.24
.25
.461.582.99
35.50
14.406.857.55
.901.001.805.70
11.65
4,730
7,744
418
5,1321,0231,171
5,427
3,485927727988
+2,317
-1,079-173
-1,905-1,557
-733-348
+198+921-452
433 2
297.0
37.6141.6117 8
49.6
32 919.9
—3 2
3 3
83.343.140.2
404 750.3
354.3
23.7
7.57
3.001.411.59
.21
.17
.411.092.69
33.85
13.756.507 25
.95
.701.755.35
11.30
4,740
7,210
312
5,009817
1,072
5,322
3,407215759941
+1,888
-1,012-155
-1,400-980-464-420
+ 187+346
-9
445.5
301.6
39.8142.6119 2
57 3
34 120.32 9
1 9
84.744.740.0
413 251 4
361.8
25.8
8.61
3.461.581.88
.26
.18
.481.392.85
33.50
13.506.207.30
1.00.70
1.805.50
11.05
4,755
7,593
572
>• 4, 912r852
r 1, 257r 5, 610
' 3, 458r207'761
• 1, 184
+1, 983
-1,281r -162
"• -513' -926r -380r+413
r+536-330
r -395
451 8
305 0
39 9144 5120 6
60 4
35 121 43 9
6
85 745 040 8
420 352 5
r367 7
26 8
'8.65
'3.34r 1. 50r 1.84
r .25'.16r .47
r 1. 50<- 2. 94
r 34. 70
r 13.65r6. 10r 7 55
' 1.00r . 65
r 1.90r 5 65
r 11.85
4,770
4. 670807
1, 266
6, 170
3. 685
7^51,547
-155
-1.0.1Q-5SS—350-431
+635+269+220
i 9.67
3.921.792.13
.27
.16
. 491.593.24
1 35. 90
14.006.357 65
1.00.60
1.905.70
12.65
f Revised.1 Estimates for Oct.-Dec. 1961 based on anticipated capital expenditures of business;
estimates for Jan-Mar. 1962 based on anticipated capital expenditures of business, anticipatedexpenditures for the year 1961, and comparative data for 1959-60 appear on p. 6 of this issueof the SURVEY.
2 Unadjusted, Data represent firms in operation as of Jan. 1; estimate for Jan. 1, 1961
(based on incomplete data) is 4,717,000.§Personal saving is excess of disposable income over personal consumption expenditures
shown as a component of gross national product on p. S-l.^Adjusted for balance-of-payments purposes, mainly for valuation, coverage, and timing,cf Excludes military expenditures.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
"December 1961 SURVEY OF CURRENT BUSINESS S-3
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
GENERAL BUSINESS INDICATORS—Monthly Series
PERSONAL INCOME, BY SOURCE
Seasonally adjusted, at annual rates:Total personal income _ _ _ __ ._ __bi l . $__
Wage and salary disbursements, total do
Commodity-producing industries, total.doManufacturing only do
Distributive industries do
Service industries doGovernment do -
Other labor income do_-Proprietors' income:
Business and professional do_Farrn do
Rental income of persons doDividends _. ---do . -Personal interest income doTransfer payments - do _Less personal contributions for social insurance
bil. $_.
Total nonagricultural income do
FARM INCOME AND MARKETINGS
Cash receipts from farming, including Governmentpayments, total mil. $__
Farm marketings and CCC loans, total doCrops doLivestock and products, total 9 - -- do
Dairy products doMeat animals - _ doPoultry and ec'gs do
Indexes of cash receipts from marketings and CCCloans, unadjusted:
All commodities 1947-49= 100Crops doLivestock and products do
Indexes of volume of farm marketings, unadjusted:All commodities 1947-49=100
Crops -_ doLivestock and products do
INDUSTRIAL PRODUCTION*
Federal Reserve Index of Quantity Output
Unadjusted, total index (incl. utilities). .1957= 100—By industry:
Manufacturing, total _ _ _ _ do _Durable manufactures doNondurable manufactures do
Mining _ _ _ _ _ _ do__ .Utilities do
By market grouping:Final products total do
Consumer goods clo_Automotive and home goods. _ _ d oApparel and staples do
Equipment, including defense do
Materials doDurable goods materials doNondurable materials _ do
Sea* adj total index (incl utilities) . _ . do_By industry:
Manufacturing total do
Durable manufactures 9 doPrimary metals do
Iron and steel doFabricated metal products do
Structural metal parts do. ..
Machinery _ doNonelectrical machinery doElectrical machinery do
Transportation equipment doMotor vehicles and parts __ __ doAircraft and other equipment do
Instruments and related products doClay, glass and stone products doLumber and products doFurniture and fixtures doMiscellaneous manufactures do
Nondurable manufactures doTextile mill products doApparel products doLeather and products doPaper and Droducts.. _ do
i 383. 3
258.5
107.284.768.2
37.745.310.3
35.011.3
11.913.423.627.2
7.9
368.1
2,844
2,7881,2141,573
384913249
114113115
129124133
105
10510211095
115
107110110110100
104100107
105
105
1029086
104101
10399
108
9810094
112110113115109
110113120106111
1 402. 2
271.3
110.487.471.8
40.748.410.9
36.212.0
11.714.126.229.1
9.3
386.2
2,892
2,8341,2561,578
395882274
116117116
133130134
108
10810411397
123
111114116114103
106102110
108
108
1049088
106104
106102112
10211589
119110107120113
113109124100112
406.4
272.9
109.586.372.4
41.449.611. 1
36.412 5
11 714.426 630.2
Q 1y. o
389.8
4,336
4,0362,1811,855
3931,100
339
166203136
191236156
109
11010311998
114120123120102
10599
112
106
106
1017873
105104
102100105
10211589
119109100117113
113104122101112
406.0
271.5
108.385.472.0
41.549.711.2
36.412 8
11.714.426 730.7
9.3
389.1
3,847
3,7672,0731,694
379964338
155193124
176222142
106
10610011497
110114117114100
10295
110
105
104
987468
101101
10298
107
9710390
11910795
117110
11210212399
110
404.0
269.6
106.284.071.8
41.749 811.3
36.012 8
11 614.126 731.0
9.2
387.2
3,268
3,2211,6241,597
403854316
132151117
146168130
101
10196
10697
106108108108101
9890
106
103
102
966964
10198
10196
108
939789
11610396
114107
11198
11996
109
403.6
269.6
106.283.871.8
41.650.011.0
36.012.8
11.614.226 831.1
9.6
386.8
3,123
3,0771,4481,629
499938247
126135120
144163131
102
10195
10997
106109101112101
9890
108
102
101
9571669797
10196
109
898988
116101100111107
11198
11397
111
403.1
269.5
105.683.571.8
41.750. 410.7
35.812 9
11 514.226 831.1
9.4
386.2
2,272
2, 250788
1, 462377819238
9274
107
10281
118
103
10296
11197
108111104114101
9990
109
102
101
9473699694
10196
108
888688
11310099
111108
11110211696
113
2 405. 5407.3
271.1
106.584. 171.8
42.150.710.6
36.013.0
11.414.226 8
2 33. 7
9.62 390. 4
2,278
2,259607
1,652424924279
9357
121
10357
137
104
10397
11296
107111104113101
10191
111
103
102
9574699694
10195
108
888689
113103100112107
11210412096
113
409.8
274.6
109.186. 172.3
42.351.010.7
36.112.9
11.514.226.832.5
9.6
392.9
2,171
2,137618
1,519417823249
8858
111
9753
130
107
10710011597
110113112114102
10496
112
106
105
9982799996
10398
109
949988
113105106115110
114106120100117
413.2
277. 2
110.587.672.9
42.551.310.8
36.312.9
11.514.227.033.0
9.7
396.4
2,478
2,236615
1,621448897256
9257
119
10652
147
108
10810311597
110114113114102
107101113
108
108
1039086
105102
10499
112
9910890
116107107117114
116110120100117
417.3
280.7
112.788.973.5
42.951.611.0
36.413 0
11 514.327 133.0
9.8
400.2
2,568
2,447915
1,532427832246
10085
112
12090
142
111
11110611898
113118119117103
109105114
110
111
1059289
107106
107101116
10111388
119112111121117
117112123104118
*418-6421.2
282.3
113.289 374.0
43.351 811. 1
36 612 9
11 514 327 2
235 2
9.82 404 0
2 785
2 7141 2891 425
411748243
111120105
131134129
106
10510011295
109112104115102
10399
108
112
112
1079591
108107
110103120
10211491
119114111121117
119114127101117
419.4
282.8
112.989.074.2
43.652.111.2
36.612 8
11 514 327 432 5
9.8
402 4
3 081
3 0501 4191 631
396935268
125132120
141139143
111
11110212399
113119
97126102
110103
-117
113
113
1089892
111110
109102118
10311690
122114109123116
120116130103123
421.1
284.0
112.988 874.7
44 052 411.2
36 812 7
11 514 427 532 7
9.8
404 1
3 426
3 3201 6691 651
389953273
136156121
151159146
113
113106
r!21r99
116121114
r!23105
110104117
'111
111
'1059993
105105
108102
"•116
959593
121112
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119117125100
'122
r425. 2r286 4
••114.1'89 9r74 8
'44 4r53 111 4
37 013 5
11 514 527 7
r33 1
10.0
'407 2
4 771
4 2902 409l' 881
3Q91 164
995
1762'>5138
IQg*M31 65
116
'116'110125101
'119126126126
'106
113108119
113
113
'10796'91
'109'107
'109'102'118
'102111'94
'121111103
'128119
120118130
121
429 0
288 *
115.591 *>74 6
44 754 911 5
37 214 2
11 514 797 933 3
10.1
410 3
"«,
"115
"116pil l"12?"99
"118"1 23"130"121"108
p]]9
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t>l 14
"114
"109"97"92
pill"106
"110"103pl2()
?! 08"120"96
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"121
' Revised. " Preliminary.1 The total and components are annual totals.2 Italicized totals for March and July exclude stepped-up rate of, and special Govern-
ment life insurance dividend payments to veterans, respectively; total disbursements of$150 million (March) and $218 million (July) multiplied by 12 (to put on annual rate basis)
amounted to $1.8 billion (March) and $2.6 billion (July). Figures for transfer paymentsand total nonagricultural income reflecting similar exclusion are as follows: March—$31.0billion and $388.6 billion; July—$32.5 billion and $401.4 billion.
9 Includes data not shown separately. t Datafor 1960 have been revised to incorporatemore recent information; revisions prior to Aug. 1960 will be shown later.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-4 SUKVEY OF CURRENT BUSINESS December 1JK51
(Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
GENERAL BUSINESS INDICATORS—Continued
INDUSTRIAL PRODUCTION^— ContinuedFt&ral Reserve Index of Quantity Output— Con.
Seasonally adjusted indexes— ContinuedBy industry— Continued
Nondurable manufactures— ContinuedPrinting and publishing _ 1957 =100..
Newspapers do._Chemicals and products do
Industrial chemicals do..Petroleum products do
Rubber and plastics products doFoods and beverages do__
Food manufactures doBeverages - . -do _
Tobacco products do
Mining _ _ d oCoal . . . _doCrude oil and natural gas do
Crude oil . . . doMetal mining. ._ .do _Stone and earth minerals do
Utilities . doElectric do._Gas - - - do
Sy market grouping:Final products, total do .__
Consumer sroods doAutomotive and home goods do.
Automotive products do\utos doAuto parts and allied products, do -
Homo Broods 9 '^oAppliances TV and radios doFurniture and rugs ... .. - do_
Apparel and staples do.Apparel, incl. knit goods and shoes.doConsumer staples do
Processed foods do
Beverages and tobacco doDrugs, soap, and toiletries do.Newspapers, maga/ines, books, do .Consumer fuel nnd lighting do
Equipment, including defense 9 - doBusiness eouipment - do .
Industrial equipment - doCommercial equipment . d o ..Freight and passenger equipment .-doFarm equipment - do
Materials do...Durable poods materials 9 do
Consumer durable doEquipment _ _ doConstruction do
Nondurable materials 9 doBusiness supplies do
Containers doGeneral business supplies _ _ _. do
Business fuel and power doMineral fuels _ _ . __ doNonresidential utilities do
BUSINESS SALES AND INVENTORIES §
iMJfe and trade sales (seas adj ), total bU $
Manufacturing, total _.do __Durable goods industries doNondurable goods industries do
Wholesale trade total doDurable goods establishments _ doNondurable goods establishments.. ._ _ do __
He tail trade total doDurable goods stores - doNondurable goods stores. do
Mlg. and trade inventories, book value, end of yearor month (seas, adj.), total t __bil . $__
Manufacturing total doDurable goods industries doNondurable goods industries do
Wholesale trade, total ..do _Curable goods establishments doNondurable goods establishments- do
Betail trade, total f --doDurable goods stores doNondurable goods stores do
105104114118105
114lOfi106lOfi112
9582999877
108
115115114
107110110
10396
113
115114119
110116108106
108111106113
10010097
10498
115
104100101103107
107108109107
10096
113
leo.o29.714.515.2
12.34.67.7
18.06.0
12.0
'90.6
52.430.122.3
12.66 66. 1
'25.5r 11 3' 14.3
111107
127108
114109109108114
9783989897
112
123123123
111114116
117117117
115112118
114117113109
110118113119
10310510211810192
106102109101107
110110109111
10397
121
161.0
30.414.715.7
12.34.47.9
18.35.9
12.4
'94.1
53.730.922.9
13.26 86.4
'27.2' 12 3' 14.9
113108121124109
110111111110115
9781999988
116
124125120
110114115
120123116
110103115
114114114110
112122115120
10310599
12110386
10397
10398
105
109110107111
10397
121
60.3
29.614.115.5
12.24.37.9
18.56.1
12.5
'94.8
54.431.423.0
13.26 96.3
'27.2r 12 5'14.8
114108120126108
109109109109117
9877
10110195
113
123124118
109113111
113109118
110104111
113114113109
111118116119
1021031001199988
101049498
102
109110106112
10398
120
59.9
29.313.815.4
12.24.28.0
18.45.9
12.5
'94.6
54.031.122.9
13.36.96.4
'27.4r 12 5'14.8
112106120125106
105110110112115
98819998
107109
123124120
108112108
10697
119
110106113
113111113109
113118116119
10110298
1179999
9991919599
108110109110
10297
120
59.4
29.113.615.5
12.34.38.0
17.95.5
12.4
'94.1
53.730.922.9
13.26 86.4
'27.2r 12 3'14.9
111104119125106
103110110111113
98789998
109111
125125123
107110102
9478
118
108106109
113108114110
112118117123
10010198
US9598
9890889598
107108108109
10196
119
58.7
28.713.215.5
12.24.38.0
17.85.4
12.4
'93.6
53.730.822.9
13.16 76.4
'26.8* 11 9'14.9
110102118124106
102110110108116
96779898
106106
125125124
107110101
9073
115
109109109
113110114110
111117115125
10010198
11891
103
9889839597
108108110108
10196
120
59.3
29.013.315.7
12.44.28.2
17.85.3
12.4
'93.4
53.630.722.9
13.26.76.5
'26.6T 11 7' 14.9
110104120127106
96111111109116
9668
100101106107
125125125
107111100
8871
115
110108110
114114114111
111116114121
9910096
11793
104
9990859599
109108112107
10296
122
60.2
29.613.715.9
12.54.28.3
18.15.5
12.6
'92.7
53.330.323.0
13.36.76.6
'26.1' 11 4' 14.7
110105123130108
110111111111122
9777
10110192
110
127127128
109114109
10392
120
114111116
115116115111
114119114
'123
10010297
11894
107
103969398
104
111111114110
10498
123
60.1
30.114.116.0
12.14.18.1
17.95.4
12.5
'93.0
53.430.223.2
13.46.86.7
'26.2' 11 2'14.9
111105127135111
114112113107116
9781
10010086
114
130131129
111115113
108101118
117116117
116115117113
110123116125
10210399
12095
104
10610110799
107
112110110110
10598
127
61.6
30.814.616.2
12.84.38.5
18.05.5
12.4
'93.1
53.430.223.2
13.56.76.8
'26.2' 11 3'14.9
113106129138111
121113113112116
9877
10110189
116
132132130
113118118
113109120
122123122
118118118114
113124117125
10210499
12395
106
109104109101110
114113115112
10698
129
61.9
30.914 716.2
12 84 48.4
18 25.6
12.6
' 93. 1
53 430 223.2
13.56 76 8
'26.2' 11 4'14.9
114107132141116
123114114117110
9877
10110190
118
132132
114120120
115110125
124127119
119122119114
115126119127
104105101125
9698
110104109104111
115114116114
10698
129
61.7
31.214.816.4
12.54.38.2
18.05.5
12.5
'93.5
53 530.423.2
13.66 86 8
'26.3' 11 5'14.9
114107132
r 142115
123114
r 114115119
9981
10210390
114
135135
115120118
117110126
120116122
120124119114
116126117129
1051061021279878
111106115105112
117116121113
108100131
'62.4
'31.415.116.4
12 84.48.4
18.25.5
12.7
'93.6
54 030.823.2
13.66 86 8
'26.0r H 0
'15.0
114107
'131143
'110
120114
'114114117
'9782
'99'99••94113
'136136
113'116
110
9682
118
121119126
'US'118'118
114
115124119127
106107101128105'97
10910499
'102'110
' 115'113
118'111
'107'97132
62.0
'31.415.0
' 16.4
12 4'4 3' 8. 118 15 6
'12.5
'94.3
54 431 123.3
' 13.56 86 7
'26.3r H 3
'15.1
'114107132
113
115116
9984
10110195
115
'137
'115119116
'110102123
121119124
'120121
' 120115
127119
r \ 08T 108
10212810788
111'105
105107108
116113116112
10899
63 0
31.815 316.4
12 64 38.3
18 6S 9
12.7
'94.7
54 831 323 4
13 56 86 7
'26.4' 11 3'15.1
P115
v ir?
plOO*>85
*102plOl
»137
pl!7»121P123
*122pl!7
r 121
T- ]90
* 109r- 1 1 0
r 111* 106
f 117
*108*>99
* Revised. * Preliminary.* Total and components are based on unadjusted data,t See corresponding note on p. S-3.f Includes data not shown separately.
t. o • Jit. a • it. < • it. y • it. a • it. v • it. r> ' J.O. V ' J.U. i J.U. i ..
§ The term'' business" here includes only manufacturing and trade. Business inventories! shown on p. S-l cover data for all types oi producers, both farm and nonfarm. Unadjustedita for manufacturing are shown on p. S-5; those for retail and wholesale trade on pp. S-ll
as shown on p. S-l cover data for all types oi producers, both farmdata for manufacturing are shown on p. S-5; those for retail and 1
and S-12.t Revised series. See note marked "t" on p. S-ll.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1!)61 SUEVEY OF CUEEENT BUSINESS S-5
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. N0¥.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS SALES AND INVENTORIES— Con.
Inventory-sales ratios: *Manufacturing and trade, totalj ratio
Manufacturing, total do _Durable goods industries _ . do__
Purchased materials doGoods in process do _Finished goods do
Nondurable goods industries doPurchased materials doGoods in process doFinished goods do
Wholesale trade, total - . _ _ _ _ d oDurable goods establishments doNondurable goods establishments do
Retail trade total! doDurable TOods stores doNondurable goods stores do
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS
Sales value (unadjusted) total bil $
Durable goods industries, total 9 ... __do- _Primary metal do
Iron and steel doFabricated metal do
Machinery doElectrical _ do _ ._Nonelectrical _ do
Industrial do
Transportation equipment doMotor vehicles and parts do
Lumber and furniture doStone clay and glass do
Nondurable goods industries total 9 do
Food and beverage doTobacco doTextUe doPaper doChemical doPetroleum and coal doRubber do
Sales, value (seas, adj.), total do
Durable goods industries, total 9 doPrimary metal do
Iron and steel doFabricated metal do
Machinery doElectrical doNonelectrical do
Industrial do
Transportation equipment doMotor vehicles and parts do
Lumber and furniture doStone clay and glass do
Nondurable goods industries, total 9 do
Food and beverage doTobacco doTextile doPaper doChemical doPetroleum and coal doRubber do
Inventories, end of year or month:Book value (unadjusted), total do
Durable goods industries, total 9 doPrimary metal _ _. do
Iron and steel _ _ _ doFabricated metal do
Machinery doElectrical doNonelectrical do
Industrial do
Transportation equipment _ doMotor vehicles and parts do_ .
Lumber and furniture doStone, clay, and glass ._ . do. __
By stages of fabrication:Purchased materials. _ _ _ . do _Goods in process doFinished goods do
29.74
14. 512.211.391.68
4.511.842.671.01
3 291.99.96.73
15 23
4.56.41
1 231.012 143.09
.51
2 52. 88
30.264.312.582.96
9.883.696.202 39
7.383.201.861.34
8.5112. 149.62
30.41
14.682 151.341.67
4.721.952.771.16
3 452.16.86.73
15 73
4.70.40
1 211. 062 313. 18.51
2 53. 90
30.814.692.812.98
10.273 946.332 48
6.973.141.831.43
8.2012 0510.56
r 1.57
1.842.23.59.87.78
1.48.57.20.71
1.091.62.80
r 1 47r 2.05r 1 18
31.06
14.711 911 141.68
4.762.102.661.16
3 542.33.86.78
16 35
4.97.40
1 981. 102 363 16.53
29.60
14. 081 791.061 53
4.591 932. 661.13
3 632.42
78.70
15.52
4.7039
1 151.042 263.23.49
54.34
31.404.712.843.12
10.333 986.362 52
7.283.301 921.39
8.4812.4310.49
r 1.58
1.852.25.58.88.79
1.48.57.20.71
1.081 61.80
' 1 49r 2. 12r 1 19
29.65
14.141 801 041.54
4.581.952.641.18
3 622.27.7970
15 52
4.70.43
1 911.059 173 17
.46
29. 25
13.811. 791.041 57
4.6!1 872 741. 16
3 301.99
79.70
15.44
4.6642
1 131.052 223.19.50
54.22
31.184.682.823.04
10.333 966.362 50
7.203.211.901.39
8.3612 3310.49
r 1.59
1.842 27.59.88.79
1.47.56.20.71
1.071.61.80
r 1 52' 2.25' 1 20
28.79
13.741 72.99
1.46
4.742.022 721.18
3 502. 12.7260
15 05
4.60.40
1 09.98
2 073. 44.45
29. 14
13. 621.751.001. 58
4. 581 892. 691. 12
3. 151.87.80.70
15.51
4.7439
1 141.062.263.22
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53.90
30.814.692.812.98
10.273 946.332 48
6.973.141.831.43
8.2012 0510. 56
r 1.60
1.872.34.61.92.81
1.48.56.20.72
1.081.57.81
r 1 51T 2.23T 1 20
27.69
12.591 811.071.39
4.351.792.561.08
2 871.71.68.58
15.10
4.52.38
1 041.042 233.33
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28.67
13.171.761.031.55
4.65] 902.741.18
2.771.53. 74.69
15.50
4.73.41
1 081.062.263.23
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54.07
30.884.612.752.97
10.263.916.362 46
7.063.151.861.45
8.0112. 1810. 69
r 1 58
1.852.30.60.90.79
1.46.55.19.71
1.061.61.78
r 1 49r 2. 18r 1 20
27.42
12. 581 71.99
1.36
4.481.832.651.10
2 821.63.67.58
14. 85
4. 51.36
1 081.022 123.07
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29.03
13. 321.811.061. 56
4.651 932.721.14
2.831.59
73.70
15.71
4.87.41
1 101.082 303. 18
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54.08
30.914.572.713.00
10.323 946.382 46
6.983.071.851.48
7.9312 1510.83
r 1.54
1.802.21.58.87.78
1.45.55.19.71
1.061.59.79
r 1 44r 2.05' 1 17
31.28
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5. 102.023.071.26
3.291.85.79.75
16. 70
4.94.42
1.221. 172 513.27
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29. 55
13. 691.791.051. 60
4.711 94
1.15
3.021.64
77.73
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4.80. 42
1 161. 102 383.08.49
53.81
30.774.522.683.02
10.373 986.392 47
6.832.961.841.47
7.8112 0910.86
r 1 55
1.772.13.55.8474
1.45.56.20.70
1.111.66.83
r 1 47r 2.08'1 20
29.38
13.961 941. 151.55
4.781.872.911.20
3 191.91.77.69
15.42
4.51.37
1 121. 122 443.10.48
30.12
14. 141.951.171.62
4.852 022.831.21
3. 151.84
80.69
15.98
4.80.40
1 201. 142 403.25.48
53.73
30.634.482.663.02
10.384 016.362 46
6.702.871.841.48
7.6712 0810.88
' 1.51
1.732.07.53.82.72
1.43.55.20.68
1.051.55.80
' 1.46''2.04' 1.20
31.52
15.182.231.361.73
4.971.933.041.28
3.492.14.86.79
16. 34
4.93.45
1. 181.202.643.24.52
30.78
14.582.131.321.69
4.821.952.861.23
3.292.01
.84
.72
16.20
4.80.43
1 221.162.473.31.50
53.77
30.654.452.653.07
10.454.086.362 47
6.652.851.821.48
7.6612.0510.94
r 1.50
1.732.06.52.82.72
1.43.55.20.67
1.061.54.81
' 1 44'2. 04r 1.18
32.28
15.772.271.401.83
5.172.053.131.37
3.612.22.90.84
16.51
4.88.45
1.311.222. 603. 24.54
30.90
14.692.071.261.72
4.831.952.881.27
3.412.14.84.74
16.21
4.70.41
1.271.182.513.22.50
53.59
30.494.442.663.10
10.374.066.312 44
6.572.801.821.45
7.6512.0010.85
r 1.52
1.722.05.52.82.72
1.42.55.20.67
1.091.60.82
r 1.46'2.08'1.19
28.51
13.171 861.151.64
4.331.692.641.14
2.851.69.78.74
15.34
4.65.43
1.061.072.283.15
.46
31. 16
14.792.201.361.70
4.881.952.931.29
3.322.09.87.76
16.36
4.78.43
1 241.172.503.29.47
53.23
30. 254. 522.733.07
10.203.996.212 42
6.462.701.821.45
7.7811.8910.58
r 1 50
1.722.05.51.8271
1 42' .55
20.67
1.061 57.80
T 1 43' 2.01r 1 18
r 32. 04
14.702 201.392.02
4.932.032.901.30
2 501.26.98.91
' 17 34r 4. 89
.461 351.272 653.33
.52r 31. 41
15.052 99
1.391.74
4.992 022.971.31
3 362.06
87.79
* 16. 35r 4. 69
431 231. 182 573.22.52
53.62
30.594.552.763.05
10.133.986. 152 41
6.873.081.831.43
7.8912.2610.44
' 1 52
1.732.08.53.8372
1.42.55.20.67
1.09r 1 60
.83r 1.45r 2.00r 1.20
r 32. 06
r 15. 12r2 18'1. 35'1.88
'5.072.11
' 2. 96'1.32r 3 07'1.72'.89' . 83
' 16 95
' 4. 98.42
1 331.222 67
'3. 13' . 50
'31.41
14. 98'2 21'1.36' 1 70r 4 98
2 00'2 98'1.33
'3 34'2 OC' 82' 79
' 16. 43
'4 82' 421 27
'] 18'2 53'3.21' 52
53.76
' 30. 65'4.62
2.823.03
' 10. 08'3 96
6.12'2 42
6.92' 3. 16
1.841.43
'8.01' 12 38' 10. 26
1 50
1.722.04
52.8270
1 42.5420
.68
1.071 61.80
1 421.911 19
33.48
' 16. 082 251.381.91
5.292.253.041.43
3 582.29.89.89
17 41
5.14.43
1 351.282 733. IS
31.78
15. 342 If.1.311 74
5 112 053 061.42
3 572 28
8281
16 44
4 8243
1 221 202 613.22
52
54.21
30.804.752 £22.97
10.133 S76. 162 43
7.003.231.821.41
8.0612.4510.29
i 15. 8
i 15. S
...
' Revised. 1 Advance estimate. 2 Total and components are end-of-year data.*Stock-sales ratios are based on the seasonally adjusted sales and inventories scries
presented on this page and on pp. S-4, S-6, and S-ll. The ratios are derived by dividingend-of-inonth inventory book values by total sales during the month. Data back to 1955
for the manufacturing and wholesale trade segments appear on p. 20 of the June 1961 SURVEY.,tRovised series. See corresponding note on p. S-ll.
9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUEVEY OF CURRENT BUSINESS December 1001
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
End ofyear
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
GENERAL BUSINESS INDICATORS—Continued
MANUFACTURERS' SALES, INVENTORIES,AND ORDERS— Continued
Inventories, end of year or month— ContinuedBook value (unadjusted) — Continued
Nondurable goods industries total 9 bil. $
Food and beverage doTobacco do __Textile do .Paper doChemical doPetroleum and coal doRubber do _
By stages of fabrication:Purchased materials doGoods in process -doFinished goods do
Book value (seasonally adjusted), total do
Durable goods industries, total 9 - _ d o _ _ _ .Primary metal do _
Iron and steel __doFabricated metal do
Machinery _ _ __ doElectrical -doNonelectrical do
Industrial do
Transportation equipment doMotor vehicles and parts do
Lumber and furniture doStone, clav, and glass _ _ __do
By stages of fabrication:
Goods in process do _Finished coods - do
Nondurable goods industries, total 9 _ _ d o _ _ _
Food and beverage -doTobacco doTextile doPaper doChemical do _Petroleum and coal doRubber -do
By stages of fabrication:Purchased materials do _Goods in process doFinished goods do -
New orders net (unadjusted), total _ do__
Durable goods industries, total 9 -- doPrimary metal do
Iron and steel do__ _Fabricated metal do
Machinery doFlectrical doNonelectrical do
Industrial __ do _Transportation equipment do
Nondurable goods industries total doIndustries with unfilled orders© doIndustries without unfilled orders! do_
Durable sroods industries total 9 do
Iron and steel doFabricated metal do
Machinerv do __Electrical doNor electrical do
Industrial doTransportation equipment do
Nondurable goods industries total doIndustries with unfilled orders© doIndustries without unfilled orders^ do
Unfilled orders, end of year or month (unadjusted),total bil $
Durable goods industries total 9 doPrimary metal _ _ do
Fabricated metal do
M achinery doElectrical do _Nonelectrical do
Industrial doTransportation equipment do
Nondurable goods industries, total © dor Revised. J Total and components are mon9 Includes data not shown separately.©Includes textiles, leather, paper, and print
orders for other nondurable goods industries are ze
22.61
5.012.042.511.514.083.361.16
9.292.96
10.36
52.43
30.084.122.393.05
9.923.736.182.41
7.183.041.871.36
8 3012.089.71
22.34
4.791.982.531.514.033.321.14
8.953.03
10.361 30. 13
14.852 42L571.70
4.661.892.771.073.23
15.283.43
11.85
51.49
48.136.765 243.33
17.799.987.803.40
15.73
3.36
thly ave
ng andro.
23.09
5.182.082.631.634.193.321.14
8.993.00
11.10
53.74
30.864.502.623.12
10.404.026.382.51
6.853.011.841.44
8.0512.0610.76
22.88
4.982.032.671.634.133.311.12
8.753.08
11.051 29. 90
14.241.871.091.62
4.701.972.721.163.38
15.663.38
12. 28
45.37
42.853.412 282.73
17.4810.217.283.38
14.93
2.52
rages.
publish]
22.94
5.242.022.531.614.093.421.13
8.823.06
11.06
54.38
31.434.572.683.18
10.444.016.432.52
7.103.131.961.46
8.2612.2510.92
22.95
5.012.032.641.654.183.281.16
8.853.10
11.00
30.04
13. 801.74.99
1.62
4.451.872.581. 133.31
16.243.52
12. 72
29.21
13.741.64.97
1.48
4.401.862.551.103.69
15.473.31
12.16
46.44
43.773.502.322.94
17.9410.407.533.50
14.93
2.662 Advar
ng indu
23.04
5.262.002.581.624.143.411.13
8.853.07
11.12
54.01
31.074.522.633.10
10. 353.986.382.48
7.023.031.931.43
8.0512.1210.90
22.93
4.962.022.661. 654.183.301.14
8.783.14
11.01
29.02
13.591.771.021.46
4.271.752.521.153.52
15.423.35
12.08
29.02
13.601.751.031.56
4.591.822.771.233.06
15.423.32
12.10
45.80
43.233.472.302.86
17.6210.207.423.47
14.83
2.57
ice estim
s tries; u]
23.09
5.182.082.631.634.193.321.14
8.993.00
11.10
53.74
30.864.502.623.12
10.404.026.382.51
6.853.011.841.44
8.0512.0610.76
22.88
4.982.032.671.634.133.311.12
8.753.08
11.05
28.33
13.331.65.97
1.33
4.592.022.581.093.58
15.003.14
11.87
28.70
13.221.771.061.46
4.671.932.741.132.83
15. 483.31
12.17
45.37
42.853.412.282.73
17.4810.217.283.38
14.93
2.52
ate.
afilled
23.19
5.132.142.711.634.233.241.16
8.993.07
11.13
53.67
30.764.492.633.02
10.323.986.342.48
6.923.031.851.44
8.0312.0710.65
22.91
5.002.012.701.624.173.291.13
8.743.07
11.10
27.58
12. 351.851.181.38
4.251.672.571. 062.63
15.243.25
11.98
28.50
12.881.811.141.52
4.541.832.711.102.66
15.623.36
12.27
45.27
42.603.452.382.73
17.3810.097.293.36
14.70
2.67
1rubbe
23.16
5.022.102.771.664.283.241.17
8.913.08
11.17
53.60
30.654.512.663.02
10.283.966.312.47
6.862.931.851.43
8.0112.0510.59
22.95
5.011.982.731.634.193.321.13
8.683.04
11.23
27.68
12.761.851.101.38
4.461.792.671.122.82
14.913.19
11.72
29.11
13.361.751.031.49
4.591.882.711.143.07
15. 763.30
12.46
45.52
42.793.592.502.75
17.3610.047.313.38
14.70
2.73
For thesr) sales a
23.05
4.942.052.811.664.273.261.16
8.933.09
11.02
53.31
30.304.472.662.95
10.253.966.292.45
6.692.851.841.41
7.9111.9010.49
23.01
5.061.982.761.624.193.371.12
8.783.05
11.18
31.35
14.512.121.271.62
5.161.993.171.322.97
16.843.73
13.11
29.85
13.821.881.101.62
4.761.882. 881.233.02
16.033.54
12.48
45.59
42.723.752.622.78
17.4210.017.413.44
14.39
2.87
3 industre consic
23.10
4.922.012.841.684.273.291.15
8.903.14
11.06
53.38
30.154.512.732.92
10.213.946.272.44
6.602.831.831.42
7.8111.8710.47
23.22
5.141.982.761.644.263.371.13
8.883.12
11.22
29.62
14.082.061.241.53
4.731.902.831.163.19
15. 543.43
12.11
30.44
14.382.191.331.58
4.741.992.751.203.28
16.063.49
12.57
45.83
42.843.872.712.76
17.3710.047.333.40
14.38
2.99
•ies (foo(ered equ
23.12
4.831.942.861.694.203.351.14
8.863.25
11.00
53.37
30. 154.512.742.93
10.203.966.252.43
6.632.881.801.42
7.7811.9110.47
23.22
5.071.972.761.664.243.371.14
8.973.20
11.05
31.50
14.982.301.411.76
4.841.922.931.243.24
16.523.65
12.86
31.09
14.802.191.321.74
4.781.972.811.223.36
16.293.55
12.73
45.80
42.643.952.762.79
17.2410.027.223.36
14.13
3.17
I, beveral to nev
23.10
4.841.882.821.684.203.361.12
8.793.30
11.01
53.36
30. 204.602.842.92
10.143.926.222.40
6.642.911.801.43
7.6012.0310.57
23.16
5.051.962.751.674.243.371.13
8.973.25
10.94
32.42
15.922.201.351.89
5.272.083.191.413.52
16.503.66
12.84
31.10
14.922.201.351.82
4.771.783.001.323.34
16.193.55
12.63
45.95
42.793.882.722.85
17.3410.067.283.40
14.04
3.16
ages, tobv orders.
22.97
4.901.802.791.664.193.411.10
8.723.33
10.92
53.55
30.374.662.892.95
10.173.956.222.41
6.642.881.801.45
7.7012. 0710.60
23.18
5.091.962.751.664.253.381.13
8.963.31
10.91
29.39
14.051.971.201.72
4.571.812.761.163.21
15.343.19
12.15
31.33
15.032.331.471.75
4.891.912.991.263.45
16.303.53
12.77
46.82
43.663.992.772.93
17.5810.187.413.42
14.40
3.16
acco, ap
23.03
5.121.872.711.664.163.431.09
8.643.30
11.08
54.03
30.804.632.853.02
10.193.986.202.40
6.953.141.811.48
7.7412.3110.75
23.23
5.122.002.741.684.243.381.13
8.943.31
10.97
' 32. 45
15.142.351.481.99
4.942.002.941.312.85
'17.313.78
* 13. 53
' 32. 13
15.652.411.521.82
5.072.102.961.313.61
r 16. 483.69
' 12. 79
47.24
44.104.142.872.90
17.5910.157.443.43
14.75
3.13
parel, p
' 23. 11
5.23'1.99
2.651.644.10
'3.491.10
'8.69'3.28
'11.14
' 54. 44
'31.104.672.853.12
r 10. 23'3.99
6.24'2.43
6.97'3.19
1.851.49
'7.96' 12. 40' 10. 74
' 23. 34
5.15'2.05
2.741.704.20
'3.421.12
'8.97' 3. 29
'11.07
' 32. 23
' 15. 31'2.13'1.29' 1.92
'5.42'2.36'3.06' 1.33'2.97
' 16.92'3.74
' 13.19
' 32. 26
' 15.76'2.31' 1.46' 1.78
'5.42' 2. 31' 3. 12' 1.33'3.49
' 16. 50'3.69
' 12. 81
r 47. 40
' 44. 30'4.09'2.81'2.95
' 17. 95' 10. 40
7.543.44
' 14. 65
3.11
etroleum
23.41
5. 352.072.671.654.163.501.11
8.893.27
11.25
54.77
31.344.742.863.13
10.344. 066.282.45
7.003.191.861.49
8.0412.5410.76
23.42
5.112.062.801.704.203.401.14
8.953. 34
11.14
33.50
' 16. 102.221.361.87
5.419 92
3.191.463.58
17.403.87
13.53
32.66
'16.122.301.451.74
5.462.203.261.453.72
16.543.69
12.86
47.42
' 44. 324.052.792.91
18.0710.387.693.48
14. 65
3.10
, chemic
215.8
2 16.2
244.3
als, and
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 11)01 SURVEY OF CURRENT BUSINESS &-7
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
GENERAL BUSINESS INDICATORS—Continued
BUSINESS INCORPORATIONS^
New incorporations (50 States) :|Unadjusted number. _Seasonally adjusted* do
INDUSTRIAL AND COMMERCIALFAILURESc?
^Failures total number
Commercial service doConstruction doManufacturing and mining doRetail trade doWholesale trade do
Liabilities (current) total thous. $
Commercial service doConstruction _ _ doManufacturing and mining doRetail trade doWholesale trade do
Failure annual rate (seasonally adjusted)No. per 10,000 concerns
16, 089
1,171
105172205573116
57, 734
4 51510,15717,31118, 9036 848
i 51.8
15, 226
1,287
114217218615123
78, 219
8,28116, 78124, 13620, 0918 930
i 57. 0
13,78314, 982
1,344
132231229613139
81,508
16, 64417,87716, 10420, 8949 989
63.3
12, 43514,131
1,311
111228231617124
84, 463
7 30916, 68328 88722, 4939 091
62.0
14, 59414, 308
1,353
110245231637130
78, 971
3 57928, 10418 87820, 1998 211
63.4
16, 35014, 469
1,404
121219228685151
81, 520
4 12811,23126 11128 68811 362
61.1
13, 28113, 980
1 449
116262229693149
88 083
6,94114, 94323 16030, 64612 393
64.2
16, 78314 722
1 610
135266271786152
126 6?2
13 34420 28326 57951 18515 231
62 9
14,81514 245
1 441
131245238704123
86 114
7 09313 12723 21532 56210 117
60 8
16,37114, 883
1 545
123255269731167
80 471
6 79819 16218 94424 77610 791
64 3
16, 41815, 489
1 403
123222218696144
83 828
8 76212, 50026 5QO27 1928 784
60 7
14, 48315, 742
1 275
111196223633112
69 168
3 94613 78614 88127 3C49 251
62 5
15, 07915, 873
1 604
129262260789164
102 693
6 35827, 71626 17529 38413 060
74.4
13,61616, 405
1,285
139183182614167
116, 664
10, 95010, 04866, 73717, 92711 002
67. 5
15, 52416, 692
1,446
118221217731159
70, 257
3, 48514, 58317, 93021, 52412, 735
69.5
COMMODITY PRICES
PRICES RECEIVED AND PAID BY FARMERS
Prices received, all farm products 1910-14= 100. _
Crops doCommercial vegetables doCotton _ doFeed grains and hay doFood grains do
Fruit doOil-bearing crops _ doPotatoes (in cl. dry edible beans) _ __ - doTobacco.. _ _ do
Livestock and products. _ doDairy products doMeat animals doPoultry and eggs doWool do
Prices paid:All commodities and services do
Family living items _ _ _ d o _Production items _ _ do
All commodities and services, interest, taxes, andwage rates (parity index) 1910-14 = 100. .
Parity ratio § do
CONSUMER PRICES
(U.S. Department of Labor Indexes}
All items 1947-49 = 100.-Special group indexes:
All items less food __ doAll items less shelter do
All commodities doNondurables _ _ _ _ _ d oDurables do
Services _ __do_
Apparel _ _ doFood 9 do
Dairy products. .. „_ doFruits and vegetables _ doMeats, poultry, and fish do
Housinaf9 doGas and electricity doHousefurnishings _ _ d oRent .. do
Medical care _ _ d oPersonal care doReading and recreation do
Transportation doPrivate _ _ d oPublic do
Other goods and services _. __do
240
221235267156202
212219168506
256257313143231
275288266
297
81
124.6
127.9122 2
116 6118.1113 0145.8
107.9118 3114.3125.1110 7
129.2119 9103.9139 7
150 8131.2118.6
146 3135. 2192 7129.7
238
221227254151203
236214204500
253259296160237
275290265
299
80
126. 5
130.0124 0
117 5119.6111.6150.0
109.41J9 7116.8128.3109 3
131.5124 8104. 2141 8
156 2133.3121.5
146 2134.5199 3132.2
241
222212267147200
273209165513
257277286176222
273290262
296
81
127.3
130.7.124 8
118 9
120.7110 9151.2
111.0120 9118.4124. 8110 0
132 2125 7104.0142 5
157 3134.0121.9
146 1134 1201 2132.7
241
219219254136204
262213181517
260282288182219
274291262
297
81
127.4
130 8125 0
118 3120 9110 7151.3
110 7121 1118.9126 2109 9
132 1125 7104 0142 7
157 9133 9122.5
146 5134 4202 9132.7
242
217220243141204
248217181517
263278298178226
275291265
298
81
127.5
130.8125 0
118 4121 0110 8151.4
110 6121 4119 3126 3110 5
132 3125 6103 9142 8
158 0133 7122.3
146 5134 5202 9132^7
241
218212233146207
254231178508
261271304165221
276291267
301
80
127.4
130 6124 8
118 0120 7110 2151.7
109 4121 3119 1126 1111 6
132 3125 9103 6142 9
158 5133 7122 2
146 2134 0205 5132.6
244
221210227150209
260250172517
263263309169224
277291267
302
81
127. 5
130 8125 0
118 1120 8110 3151 9
109 6121 4119 0127 2111 8
132 4125 9103 7143 1
159 4133 8122 7
146 2133 9205 7132.6
243
224217240150208
260264161516
259256309160226
277290268
302
80
127. 5
130 9125 0
118 0120 7109 9152 2
109 8121 2118 5127 8111 4
132 5125 9103 9143 1
159 6133 6123 4
145 7133 4205 7132. 6
239
2?6228249145202
250286178516
251247305145231
277290267
302
79
127.5
130 8125 0
117 9120 4110 7152 3
109 5121 2117 9131 4110 5
132 3125 8103 8143 3
i 59 9133 8124 1
145 8133 4206 5132.6
236
230233250151203
261285176517
241241292139239
277291266
302
78
127 A
131 0124 9
117 7120 2110 8152 5
109 6120 7117 5132 2108 7
139 2126 2103 5143 4
160 4133 8123 9
146 6134 2206 5133.1
234
231253261152200
260261177516
236240986131238
275290265
300
78
127.6
131 2125 2
118 0120 4111 2152 7
109 6120 9117 3135 4107 4
132 4126 3103 9143 5
160 9133 9123 5
147 7135 3207 3133. 1
237
232261265156201
241261189516
24124828813^232
275290264
300
79
128. 1
131 4125 7
118 7191 1
111 5152 8
109 9122 0118 0138 2107 8
132 4125 6103 6143 6
161 2134 3124 1
148 3135 9208 5133. 6
241
229214276154209
244259162523
251257309142231
276290265
301
80
128. 0
131 6125 6
118 4120 8111 9153 0
109 9121 2118 5132 4108 4
132 3195 6103 2143 6
161 4134 2124 4
149 3136 8209 1133.6
242
229198277156214
257242148542
252206303138230
276291266
301
80
128. 3
132 0125 g
118 7121 0111 9153 2
111 1121 1119 0126 5109 4
132 g125 7103 8143 9
161 7134 3125 0
149 4136 9OAQ A
133.8
240
226195286154217
228242134537
252274297141228
276291265
301
80
2 128. 4
132 3126 0
118 8120 9112 7153 4
111 4120 9119 012° 9109 7
132 7125 7103 6144 1
162 3134 0125 4
i ^n '%137 9OAQ A
133.8
238
223213280149218
209248134530
250275291140228
276291265
301
79
' Revised. 1 Based on unadjusted data. 2 index based on 1935-39=100 is 214.7.cfData are from Dun & Bradstreet, Inc. ^Figures in 1961 BUSINESS STATISTICS
volume, also the 1959 average shown here, cover 49 States (Alaska not included); see July1961 SURVEY for unadjusted data back to January 1960 for 50 States.
*New series. Data for Jan.-Dec. 1959 (49 States) and beginning Jan. 1960 (50 States)appear in the Oct. 1961 SURVEY.
§ Ratio of prices received to prices paid (including interest, taxes, and wage rates),9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-8 SUKVEY OF CURRENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1S61edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
COMMODITY PRICES—Continued
WHOLESALE PRICES d^
(U.S. Department of Labor Indexes)
All commodities 1 947-49 = 100
By stage of processing:Crude materials for further processing doIntermediate materials, supplies, etc doFinished goods©-- -- - -- do_ _
By durability of product:Nondurable goods doDurable goods _ do
Farm products 9 _ _ _ _ doFruits and vegetables, fresh and dried... do __Grains doLivestock and live poultry do _
Foods, processed 9 doCereal and bakery products __ doDairy products and ice cream do. _Fruits and vegetables, canned, frozen doMeats, poultry, and fish _ do
Commodities other than farm products and foods1947-49=100--
Chemicals and allied products 9 doChemicals, industrial doDrugs and Pharmaceuticals doFats and oils, inedible doFertilizer materials _ _ doPrepared paint do
Fuel and related prod., and power? doCoal doElectric power Jan 1958=100Gas fuels doPetroleum products, refined 1 947-49=1 00 _ _
Furniture, other household durables 9 - - _doAppliances, household doFurniture, household doRadio receivers and ohonographs doTelevision receivers do
Hides, skins, and leather products 9 doFootwear., .. < oHides and skins . _ _ _. doLeather do
Lumber and wood products doLumber __ do
Machinery and motive prod. 9 doAgricultural nmcbinerv and equip . do. _Construction machinerv and enuin doElectrical machinery and equip " doMotor vehicles do
' Metals and metal products 9 doHeating equipment _ doIron and steel doN on ferrous metals . do
Nonmetallic mineral products 9 d o _ - _Clay products, structural doConcrete products. . doGypsum products do
Pulp, paper, and allied products doPaper do
Rubber and products doTires and tubes do
Textile products and apparel 9 doApparel doCotton products . doMaumade fiber textile products __ do ___Silk products doWool products do
Tobacco prod, and bottled beverages 9 _ _ _ d oBeverages, alcoholic doCigarettes do
Miscellaneous _ __ doToys, sporting goods do
PURCHASING POWER OF THE DOLLAR
As measured by —Wholesale prices 1947-49=100.-Consumer prices _ _ _ ___ __ _ do
119.5
96.7127.0120.6
105.0145.9
89.1102.777.385.1
107.0119.3114.3109.098.2
128.2
109. §123.893.256.7
106.9128.3
112.7122.6100. 8110 9
2 114.2
123.4104. 7124.189.069.8
114.3129. 590.7
111.8
125.8127.1
153. 0143. 4171.9154. 4142 8
153. 6121.7172.013(5. 1
137.7160. 2129. 7133.1
132.2143. 4
144. 5143.4
95.0100.091.781.1
113.5101 6
131.4121.3134 8
94.5117.5
83.780.3
119.6
94.5127.0121.5
105.3145.7
88.8106.775.782.6
107.7121.8118.5107.096.7
128.3
110.2124.293.649.0
109.6128. 5
113.8121.8101.9116 6115.4
123.1101. 9125. 186. 669.0
110.3133. 068. 1
101.5
121.3121.4
153. 414(i. 1175.6154. 2140 8
153.8119.4170. 0139.0
138.0161.8131.1133.2
133. 2145.4
144.7138.4
96.1100 994.279.1
122 9102 1
131.8120 8134 8
92 1118.3
83. 679. 1
119.6
93.3126.6122.4
105.8144.9
89.5109.273.580.7
109.0123.1121.3108.897.8
128.0
110.1123.693.147.8
111.2128.4
116.2122.5102. 1120.9119.5
122.7100. 9125. 684.268.9
108. 5132. 564.198.1
117.7116.3
152.9140. 7176. 7152. 6140 3
152.8119. 3108.9137.1
138. 1162.2131.0133.2
133.4145.7
144.7141.3
95.8101 192.878.5
128.5101 1
132.0121 1134 8
90 3118.6
83.678 6
119.6
93.0126.5122.7
105.8145.0
89.9107.570.381.8
109.1123.1121.7109.496.6
127.9
110.1123.592.848.9
111.9128.4
116.1123.0102.4120 2119.1
122.6100.6125.784.268.9
108. 5132.565. 897 1
116 9115.1
153.0148.2177. 3152,4140 5
152.3118.4168. 5135. 5
137.9162.3131.0133 2
133.1145.7
143.6141 3
95.4101 091.778.2
125 9101 3
132.0121 1134 8
90 6118.6
83.678 5
119.5
93.3126.4122.2
105.6145.0
88.799.572.782.8
109.2123.5122.0110.197.3
127.9
110.2123.692.848.5
111.9130.3
116.2123.1102.3120. 0119.3
122.6100. 4125. 785.369.3
108. 8132. 564. 909. 4
116.5115.0
153.1148. 0177.0152. 4140. 7
152.2116.8168. 6133.9
137.9162.3131.0133.2
132.3145.7
141.2137.1
95.2101.091.277.8
125.7100 8
132.1121 2134 8
92 4118. 6
83.778 4
119.9
94.7126.7122.4
106.1145.1
89.7103.775.284.7
109.9123.5121.3111.898.3
128.1
109.7123.092.750.2
112.4131.7
i 117.2123.4102 3121 1121.1
122.3100. 2126. 184.769 3
108.3132. 761.797 8
115 7114 5
153.5148. 4177. 6153. 7140 8
152.2114.9169. 4132. 1
s 138. 5162. 1131.1134 6
132.2145 7
139.7137 2
94.8100 590 877 3
130 9100 1
132. 1121 2134 8
95 6118.4
83.478 5
120.0
95.1126.7122.6
106.3145.0
90.099.876.085.3
110.5123.6119.8112.099.5
128.1
110.0123.292.754.7
112.4132.4
117.7123. 4102.2J22 3121.9
122.2100. 2126.284.768.7
108. 0132.7
(}(). 597.3
114.7113. 5
153. 4148, 5178.2153. 6140 4
152. 3114.8169. 7132.2
138. 4162.1131.2134.6
132.2145.7
139.6137 1
94.7100 590 277.2
129 399 9
132.1121 3134 8
95 2118.3
83.378 4
119.9
95.2126.9122.2
106.2145.1
89.9105.976.483.1
109.6123.6120.7111.596.1
128.2
110.1123.292.657.7
112.3132.4
117.5122.8102 4121 8121.5
122.2100. 0126. 284. 769.1
109. 5132. 708. 8
100 2
115 4114.4
153. 4148. 5178. 2153.5140 9
152.4114 5170.4132.3
138.6162.1131.1134 6
131.5145 7
139.9137 1
94.4100 490 276.3
129 599 5
132.1121 3134 8
96 8118.9
83.478 4
119.4
94.6126.9121.3
105.3145.3
88.5100.273.882.0
108.7123.6119.9111.194.3
128.0
110.2123.292.662.1
112.3132.4
115.2119.6102.5118 3117.9
122.5100. 0126.384.569.1
109.9132. 708. 0
102 2
118 0116.5
153. 1148. 6178.6151.9140 3
152. 7115 2170. 8132.4
138.6162.1131 3134 6
131.0145 4
140.1138 4
94.1100 489 975 8
129 5100 1
132.0121 1134 8
97 7119.0
83.878 4
118.7
93.2126.3120.7
104.3145.3
86.8101.474.878.2
107.5123.6119.5109.091.8
127.6
109.9122.892.461.4
112.3132.4
113.6117.4102.4118 7115.0
122.499.9
126.484.467.8
110.7132. 871.0
104 1
117 6117.0
153.1148. 6178. 5151. 7140 3
153. 0115 4170. 2134.4
138.5161. 5131 3134 6
126.1145 4
140.2138 4
94.0100 389 975 4
131 5100 9
132.1121 2134 8
99 5118.9
84.278 5
118.2
91.6125.8120.6
103.5145.4
85.1103.374.275.4
106.7123.7119.7108.789.9
127.4
109.3122.292.454.1
112.3132.4
114.3117.7102.3115 4117.0
122. 499.8
126.484.368.3
110.1132.868. 1
102 6
117 8117.0
153. 2148.8178. 2151.7140 4
153.1115. 4170.3135. 2
138.3161 . 6131 3134 6
126.5145 9
139. 6138 5
93.7100 489 575 1
130 8101 0
132.1121 2134 8
95 9118.9
84.678 4
118.6
92.7125.6121.2
104 2145 3
87 1104.377 875.5
107 5123 9120.4
' 109. 292.5
127.4
108 9121 192 552 2
111 7132 4
114.6118 7102 5115 6117.4
122.399.8
126. 483 568 8
111.1132 976 2
102 6
117 2116 8
153.0148. 8178 3151.8140 5
153. 2115 5170.1135.8
138.4161. 6131 3134 6
126.4145 9
139.0138 3
93.9100 489.775.1
131.2101 2
132.6121 1134 8
95 6119.0
84.378 1
118.9
94.8125.5121.4
104.6145.2
88.697.378.180.3
108 1123.9121.0107.494.8
127.4
108 4120 891 351 1
110 0132 4
114.4119 2102 4116 6116.8
122.199.8
126.482 068 1
113.1133 5§9 9
106 3
115 9115 8
152. 7148 9178 5150 5140 5
153. 6115 6170. 5136 2
138 5161.7131 3137 3
126. 3145 9
139.4138 3
94.2100 690 475 1
136 2101 7
132.8121 1m o
95 6119.7
84.178 1
118.8
93.8125.7121.3
104.5345. 2
87.294.978.077.6
108.1124.3121.9107.394.3
127.5
108.1120.690.748.7
110.2132.4
113.7120.1102. 4116 9115.1
122.299.8
126. 781.268 1
113. 5133. 982 5
107 6
115 7115 3
152.7148 7178 5150 4140 3
153. 7115 2170.8136 3
138.5161.9131 4137 3
129.5145 3
139.6138 3
94.4100 791 075 1
136 2102 1
133.4121 2134 8
95 6119.6
84.277 9
118.7
-93.7125.4121.3
104.4145.0
87.1'94.5
77.976.9
108.3125.1123.6
r 108. 0'93. 7
127.3
108.0120.390.847.0
111.9132 2
113.0120.8102 5119 4113.3
122. 299. 9
r 127. 081 2
r gy Q
r 114. 1r 134 7
82 2109 3
114 7r H4 5
152. 814C| 0178 5
r 151 1T 140 n
r 153. 2
114 8r 170. 5
134 9
138 9r 162. 1
131 5137 3
130.4145 4
139.4138 3
94.7100 891 675 1
133 3r IQl Q
133.4121 1134 8
r 93 4119.9
84.24 77 9
118.8
93.3125. 8121.4
104.7144.9
87.595.479.376.9
107.9125.2123.8108.192.7
127.5
107.9120.391.046.0
112.3132.2
114.0121.2102.6119.4115.0
122.399. 8
127.381. 367.6
1 13. 7134, 8
79, 6108 6
114 7114.3
152. 9149. 4178.6151. 1139 9
152. 5114.3169. 2134.0
138.6162.0131.2137 3
129.9145.4
138.4137 0
94.8100 891 875.5
132 9101 6
133.5121 4134 8
97 5119.9
4 84. 2
r Revised. 1 Formerly titled fuel, power, and lighting materials. 2 Petroleum andproducts index, published through Dec. 1960, has been discontinued. 3 Formerly titlednonmetallic minerals, structural. 4 indexes based on 1935-39=100 are as follows: Measuredby—wholesale prices, 44.1 (Nov.); consumer prices, 46.6 (Oct.). tfFor actual wholesale
prices of individual commodities, see respective commodities. ^Revised beginning Jan.1961 to incorporate new weighting structure based on net selling value of commodities in1958; comparability with earlier data is unaffected. O Goods to users, including raw foodsand fuels. 9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-9
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
CONSTRUCTION AND REAL ESTATE
CONSTRUCTION PUT IN PLACE
New construction (unadjusted), total mil. $_.
Private total 9 do
Residential (nonfarm) 9 doNew housing units __ _ _ __ doAdditions and alterations do
Nonresidential buildings, except farm andpublic utilities, total 9 _. ..mil. $ .
Industrial _ doCommercial 9 - - - - -do
Stores, restaurants, and garages* doFarm construction _ _ _ _ _ doPublic utilities do
Public total do
Nonresidential buildings doMilitary facilities _ doHighways doOther types do
New construction (seasonally adjusted at annualrates) total mil $
Private total 9 do
Residential (nonfarm) doNonresidential buildings, except farm and
public utilities total 9 mil $Industrial doCommercial 9 do
Stores restaurants and garages* doFarm construction doPublic utilities do
Public total 9 do
Nonresidential buildings doMilitary facilities doHighways do
CONSTRUCTION CONTRACTS
Construction contracts in 48 Stntes (F. W. DodgeCorp.):
Valuation total mil $Public ownership _ _ _ . _ _ doPrivate ownership doBy type of building:
Nonresidential - . _ _ _ _ d oResidential doPublic works doUtilities do
Engineering construction:Contract awards (ENR) § do
Highway concrete pavement contract a wards :c?Total thous sq vds
Airports doRoads doStreets and alleys do
HOUSING STARTS
New housing units started:Unadjusted:
Total, incl. farm (public and private) _ _ _ t h o u s _ _One-family structures do
Privately owned _ _ _ _ _ _ do
Total nonfarm (public and private) doIn metropolitan areas. _ do
Privately owned- _ _ _ _ _ _ _ _ _ d o
Seasonally adjusted at annual rates:Total including farm (private only) doTotal nonfarm (private only) do
CONSTRUCTION COST INDEXES
Department of Commerce composite1947-49=100-.
American Appraisal Co., The:Average, 30 cities _1913=100__
Atlanta doNew York __ _ doSan Francisco doSt. Louis _ _ _ _ _ do
Associated General Contractors (building only)1913=100-
4,713
3, 362
2,0801, 603
413
738176328165109417
1,351
376124489362
3,022922
2, 100
9491,429
484161
1, 702
7, 828
4,1412,931
129. 5104.2126.4
127.689.7
124.6
141
704771764656684
517
4,630
3 300
1,8791,368
433
847238348172107444
1,329
399116455359
3 0261,0491 978
1,0201,259
579169
1,888
9,315621
5,6533 041
108.084.1
104.3
106.274.0
102.5
144
722793783677700
533
5,016
3,463
1,8971,443
372
929255386194111499
1,553
448148558399
55, 552
39 200
21 834
10 4183 0104 2622,0741,2885 361
16,352
4, 9951,4905 427
3 3191,1252 194
1,1651,390
647117
1,796
8, 541635
4, 4613 445
113.286.7
110.4
110.178.0
107.3
1 2731,237
144
728803795681706
538
4,771
3,395
1,8401,392
361
946261402201103479
1,376
408156450362
56, 079
39 624
22 016
10 5623 0?54 3782 1231,2985 452
16 455
5, 0551, 6785 243
2 8861,0711 815
9161, 253
566152
1, 775
11,208207
7,0453 957
94.570.492.8
93.566.191.8
1 2201,206
144
730806795690710
538
4,482
3,170
1,6981,267
340
92526438718687
437
1,312
391122470329
56, 650
39 639
21 916
10 7513 0254 5192 2261,2425 458
17 Oil
5, 0721,5315 953
2 7181,2181 500
994878735110
1, 875
12, 101361
9, 0129 707
70.948.064.2
70.449.863.7
996987
143
731806796691710
538
3,887
2,793
1,4491,051
307
88626536216177
358
1,094
38988
291326
56, 018
38 575
20 649
11 1933 0534 8482 3951, 1265 308
17 443
5, 0941, 2846 470
2 485838
1 647
813974400298
1, 061
8 632959
5,8911 782
72.551 869.8
71.051.168.3
1 1271,098
143
732806808691710
539
3,684
2,645
1,322939292
85825935215781
363
1,039
356109267307
55, 717
37, 962
20, 016
11,1002,9924 8212 3561,1575 384
17 755
5, 1571, 9425 934
2 235732
1 504
8048703(M307
1,380
7 349224
5.1251 999
81.056 575.8
77.755.772.5
1 1691,115
144
733806808695710
536
3,979
2,842
1,4831, 056
337
831246345160100406
1 137
403119271344
55, 794
38 511
20 508
10 9602 9574 7432 3381,3345 398
17 283
5, 2211 7645 662
3 1601,0902 075
1,0271 371
695142
1,912
7 762980
5 0831 699
109.780 1
104.6
107.379.1
102.2
1 2961 262
144
733807808696713
538
4,372
3,110
1, 7351,173
469
809234337150116428
1,262
433118338373
55 504
38 986
21 042
10 8032 9214 6362 1921, 5085 323
16 518
5, 2221 6515 060
3 298l', 1702 i9g
1 0501 454
63915^
1,817
10 5?2202
7 2323 088
115.385 4
111 0
113.079.7
108 7
1 1661 143
145
735808808696713
538
4,853
3,442
1,9731,256
619
842226363170136467
1,411
440127435409
55 518
39 232
21 257
10 6282 8494 5152,0951,6865 383
16 286
5, 1861 5074 983
3 5011. 1272 374
1,1051 553
6232J9
1, 789
10 482110
5 9944 378
130.797 9
126.6
128.389.5
124.2
1 2911 268
145
737808808696721
542
5.301
3,690
2,1381,407
632
900219401205156473
1,611
468136574433
57, 206
40, 328
22, 271
10 5842, 7504 5102,1411, 8395,382
16, 878
5, 2291, 3825 527
3 6021, 2352 367
1,2211 558
632191
2, 392
11,216582
6, 1194 514
138.3100 6132.4
135.392.5
129 5
1 3811 351
145
740809810704721
547
5,274
3,734
2,1251,524
501
932216419220164491
1,540
45098
562430
57 039
41 176
23 118
10 6082 6724 5782 2551, 7595 457
15 863
4, 9631 1405 128
3 529ll 2059 9,33
1 1541 50?
710163
1,883
9 041938
4 3283 774
128. 597 6
125 2
126. 087.2
122 7
1 3431 318
146
742809820706722
547
5,402
3,723
2,1091,578
428
937213416215160497
1,679
462113651453
57, 983
41, 281
23, 306
10, 6292. 5884, 6462, 3471, 6545,470
16, 702
5, 0441, 1535, 702
3, 5431, 15S2, 384
1,0*71,589
687179
2.220
11, 7658()9
7, 0583 906
130. 1r 96.1127. 0
r 127. 3' 87. 5124.2
1 3261,301
145
746809820706722
547
' 5, 473
' 3, 740
' 2 122'1,602
'417
949218421220
'147r 503
' 1,733
'463' 138
685r447
'58,910r 41, 709
'23,782
10,7112, 6104.7182,398
r 1,590r 5, 422
'17,201
' 5, 091r 1,404
5, 960
3. 004954
2 050
9871, 3S1
534103
1, 057
6, 929304
3, 2033 423
' 128. 292 1
^ 122. 4
r 126. 591.3
'120 7
' 1 383' 1 365
145
747809821708722
547
' 5, 325r 3, 699
' 2, 093'1,613
'376
954221425224
'129504
'1,626
'456'80
'651'439
r 58, 879
'41,759r 23, 991
10, 6562, 6084, 6812, 388
'1,494' 5, 409
r 17, 120
' 5, 072'-812
r 6, 340
3, 2911,021•) 070
1 , 0051.498
631150
1,869
8, 671174
5.4183 ()80
' 128. 5T 123.8
' 126. 085. 2
' 121 3
r \ 432' 1 402
145
748819821715722
547
5,062
3,637
2,0781,614
362
948221424228121472
1,425
41196
511407
59, 473
42, 350
24, 713
10, 5402, 5544, 6082, 4131,5165, 377
17,123
5, 0851,0225, 990
2, 071
105. 4
102.5
103.8
100.9
1 3501 328
145
747815819712731
547
' Revised.9 Includes data not shown separately.*See Bureau of Census reports for monthly data prior to Aug. 1960.
§ Data for Dec. 1960 and Mar., June, Aug., and Nov. 1961 are for 5 weeks; other months,4 weeks.
d" Data for Nov. 1960 and Jan., May, Aug., and Oct. 1961 are for 5 weeks; other months4 weeks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-10 SURVEY OF CURRENT BUSINESS December
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
CONSTRUCTION AND REAL ESTATE—Continued
CONSTRUCTION COST INDEXES— Con.
E. H. Boeckh and Associates: 1Average, 20 cities:
Apartments, hotels, office buildings:Brick and concrete-__U.S. avg. 1926-29=1CO__Brick and steel doBrick and wood do
Commercial and factory buildings:Brick and concrete doBrick and steel doBrick and wood doFrame doSteel do
Residences:Brick doFrame -- do
Engineering News- Record:©Building 1947-49=100 .Construction _ _ _ _ _ _ _ _ _ _ _do__ _
Bu. of Public Roads — - highway construction^Composite stand mile (avg forqtr) 1957-59=100
CONSTRUCTION MATERIALS
Output index:Composite unadjusted 9 J 1947-49=100
Seasonally adjusted 9 t --- do
Iron and ^teel products unadjusted! doLumber and wood products unadjusted doPortland cement, unadjusted _ _ . do
REAL ESTATE
Home mortgages insured or guaranteed by-Fed. ITous. Adm.: Face amount mil. $._Vet. Adm.: Face amount do
Federal Home Loan Banks, outstanding advancesto member institutions mil $
New mortgage loans of all savings and loan associa-tions estimated total mil $
By purpose of loan:Home construction doHomo purchase do411 other purposes do
New n on farm mortgages recorded ($20,000 and
Nonfiirm foreclosures number
Fire losses mil $
306.2296.4293.2
318 1315.8293 1289.8300.4
293 9284.0
162.5176.5
1 r 96. 4
136.2
121 4140.1169.0
505. 78232. 23
2 2, 134
1,263
433551278
2 6863.673
87.26
313.6302.3297.8
326.2321.2298 5294.4302.6
299 2288.4
165. 7182.2
1 ' 94. 1
131.3
1^8 6132. 6159.0
383. 38165.42
21,981
1,192
390511291
2, 4454, 279
92.32
315.0302.5297.2
328.1321.0298 5293.5300.8
298.9287.5
165. 9183.2
131.6116.4
126 0ol29.9^188.1
433. 65162.08
1,735
1,250
394545311
2, 5254,512
92.73
315.0302.4297.0
328 1320.8298 4293.3300.4
298 7287.3
166.1183.3
116.9122.4
111 6117.6158.0
403. 68150. 40
1,741
1,140
332508300
?, 3784,740
84.34
315.1302.4296.8
328 2320.8298 2293.0300.3
298 5287.1
166.5184.2
'95 0
102.8120.5
95 3104.9122.7
390. 26141.87
1,981
1,150
367460323
2, 3384,973
101.90
315.6302, 5296.4
329 0320.8298 2292. 2300.1
298 2286.5
166.5184.2
104.6111.7
100 7112.5100.2
410. 35131.65
1,571
969
285400285
2, 0755, 523
117.25
315.7302.5296.4
329 1320.9298 2292.3300.1
298 2286.5
166.5184.1
100.0113.4
94 7109.990.0
340. 97107. 75
1,496
1,001
288395318
1,9975, 096
116.61
315.9302.7296.4
329.1320.8298 1292.0300.1
298 2286.4
167.1184.9r94. 4
125.3130.1
120 9128.5130.7
347. 56124.84
1,477
1,356
407515414
2.4446,272
109. 22
316.2302. 9296.6
329.5321.2298 1292.4300.4
298 4286.7
168.3187.0
131.2129.2
132.5132.6158.3
317.68108. 65
1,576
1,309
417504388
2, 3585, 942
95.49
320. 1305.0298.7
334 6324.0300 8294.5300.5
300 9288.4
168.6187.7
147.2137.4
149.1147.9186.1
348. 99123. 39
1,624
1,511
460603447
2,7006,090
93.10
321.6306.4299.7
335 9325.2301 9295.3301.5
301 9289.3
169.1188.4
r QQ 2
150.2140.5
158.8141.3189.0
385. 86137. 27
1,869
1,721
532712477
2,8566, 576
103.35
322.4308 0300.3
336 8325 9302 4296 0302.0
302 5289 9
168 8188.5
r 130. 3r 134. 9r 132 2r 121.9
194.5
386. 21144.39
1,871
1,482
422659401
2,6535, 946
93.11
322.8308.2300.3
337.0326. 1302 5295. 9302.2
302. 6289.9
169.0188.5
153. 0138.6
156.2151 9199.0
463. 35181 . 66
2,001
1,763
499785480
3,0046,348
91.63
323. 3308 7300.7
337 6326. 6302 8296.3302.5
303 0290.2
168 7188.6
r95 1
141.1134.9
144 8137.8188.3
422. 39167. 99
2,124
r 1. 594r436••694r463
2,7776,214
76.98
323. 4308 6300.0
337 9326. 5302 5295.1302. 3
302 3289 3
168.8188.8
432. 48200. 91
1,623
465693464
86.93
323.3308 5299.9
337 8326.5302 4295. 1302.2
302 2289.2
168.7188.7
483.73
DOMESTIC TRADE
ADVERTISINGPrinters' Ink advertising index, seas, adj.:
Combined index 1947-49=100Business papers doMagazines do
Newspapers doOutdoor - - - do _Rad'O (network) doTelevision (network) 1950-52—100
Television advertising:Network:
Gross time costs total mil $Automotive incl accessories doDrills and toiletries doFoods soft drinks confectionery do
Soaps cleansers etc doSmokins materials doAll other _ __ _ do _ _
Spot (national and regional) :Gros^ time costs total do
Automotive incl accessories doDru°"s and toiletries doFoods soft drinks confectionery do
Soaps cleansers etc doSmoking materials doAll other do
Magazine advertising:Cost total do
Apparel and accessories __ doAutomotive incl accessories doBuilding materials __do_ __Drugs and toiletries doFoods soft drinks, confectionery do
Beer, wine, liquors do. _Household equip supplies furnishings doIndustrial materials doSoaps, cleansers, etc.- __doSmoking materials doAll other do.
225232173
20615224
452
52 33.9
14.810 5
5.66 3
11.3
65.34.06 72.86 28.7
4.25 64.2.9
2.319.7
235246188
21016023
462
56 94.6
16 310 8
5 86 4
13.01 154 2
1 5 61 28 71 49 8
i 18 9!8 9
1 42 4
71.14.77 83.06 79.8
4.25 64.6.8
2 221.7
246247208
20317021
507
63 47.2
17 411 9
6 26 1
14.5
98 16.8
14 73.48 8
13.1
5.38 36 4.9
2 328.1
234244175
20216622
513
64 05.5
16 612 3
6.16 2
17.4
82 45.29 71.97 4
10.4
5.87 34.9.8
2 526.5
235235181
20914718
500
60 74.7
18.012 2
5.47 0
13.4
163 15 1
32 556 6
16 18.5
44 3
64.73. 65.3.8
6 49.4
7.54 43.5.4
2.620.8
230227194
20614918
449
61.84.9
18.413.4
6.56.8
11.8
48.91.56.81.63.98.0
2.72.01.9.4
1.718.4
225225186
19014024
473
57.13.7
16.612.9
6.76.0
11.1
64.53.17.52.15.5
11.4
3.33 12.8.8
2.522.4
232221187
21213523
487
63.63.9
18.214.4
7.86.6
12.7
151 34.0
31 156.6
16 87.5
35 3
77.05.68.22.87 2
11.6
4.34 73 6.8
2.725.7
225234177
19612523
479
59.83.3
15.513.6
7.76.5
13.3
83.56.58.64.36.7
11.8
4.46 74.4.9
2.226.8
232241182
20012625
499
61.73.8
16.613.3
7.27.0
13.7
78.75.87.63.67.2
10.8
4.56 74.7.7
2.225.0
236242171
21514925
522
59.93.6
18.412.0
7.16.6
12.1
160.64.6
28.254.1
21.68.3
43.8
66.52.95.83.37. 1
10.0
4.14 04.2
2.721.6
236258173
18515029
520
58. 13.3
19.311.4
6.68.19.5
47.6.7
3.51.85.98.4
3.22 43.3.4
2.215.8
237236176
20415726
538
58.42.7
19.111.9
7.77.79.2
47.44.82.71.84.67.4
2.52.32.7.5
2.216.0
245251192
21615222
518
80.08.67.13.67.79.0
3.86.24.8.6
2.625.8
89.86.0
11 02.98 7
13.0
5.18 05 21.12.3
28.5r Revised. l Quarterlv average based on quarterlv data. 2 End of year.« Revisions for Aug. and Sept. 1960, respectively, 145.1 and 136.1.& Revision for Sept. 1960, 186.5.^Copyrighted data; see last paragraph of headnote, p. S-l.OData reported at the beginning of each month are shown
f Revised to reflect current specifications and base period; data prior to 4th qtr. 1960 areavailable upon request.
kvn here for the previous month.
uiciuio ujjun it;<{ii«.j;5t.9 Includes data for items not shown separately.^Revisions for 1955-Sept. 1960 are available upon request.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-ll
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
DOMESTIC TRADE—Continued
ADVERTISING— Continued
Newspaper advertising linage (52 cities) :Total mil lines
Classified _ doDisplay, total _ ._ do
Automotive do
General .__ _ _ _ _ doRetail _ do
RETAIL TRADE
All retail stores:Estimated sales (unadj.), total _ _._ _ _ mil. $
Durable goods stores 9 doAutomotive group do
Motor veh., other automotive dealers do _Tire, battery, accessory dealers __do ._
Furniture and appliance group do _Furniture, homefurnishings stores doHousehold appliance, TV, radio _ _ _ _ d o _ _
Lumber, building, hardware group doLumber, bldg. materials dealers^ do .Hardware stores do
Nondurable goods stores 9 _ _ _ do _Apparel group do
Men's and boys' wear stores _ do _Women's apparel, accessory stores. do__Family and other apparel stores doShoe stores do
Drug and proprietary stores _ _ doEating and drinking places _ _ _ _ do__Food group _ _ _ _ do
Grocery stores doGasoline service stations _ _ _ do
General merchandise group 9 doDepartment stores doMail order houses (dept. store mdse.)-doVariety stores __ ._ do _
Liquor stores- _ _ _ _ _ _ _ _ do
Estimated sales (seas adj ) total do
Durable goods stores 9 doAutomotive group do
Motor veh., other automotive dealers doTire, battery, accessory dealers. do
Furniture and appliance group doFurniture, homefurnishings stores doHousehold appliance. TV, radio - -do _
Lumber, building, hardware group _ doLumber, bldg. materials dealers cf - doHardware stores - _ _ _ _ do
Nondurable goods stores 9 _ doApparel group do
M en's and boys' wear stores doWomen's apparel, accessorv stores^ .doFamily and other apparel stores doShoe stores do
Drug and proprietary stores doEating and drinking places. _ _ doFood group _ do
Grocer v stores doGasoline service stations _ do
General merchandise group 9 -- do _Department stores doMail order houses (dept. store mdse ) doVariety stores do
Liquor stores do
Estimated inventories, end of year or month: tBook value (unadjusted), total bil. $__
Durable goods stores 9 . __ .doAutomotive group doFurniture and appliance group. doLumber, building, hardware group. ..do
Nondurable goods stores 9 doApparel group doFood group doGeneral merchandise group do ._.
Book value (seas, ad].), total doDurable goods stores 9 do
Automotive group.- _ _ _ d oFurniture and appliance group doLumber, building, hardware groups-do
Nondurable goods stores 9 doApparel erroup doFood group _ _ doGeneral merchandise group do
238 860.6
178.112.9
30.3130 4
17, 951
5, 9723, 2873, 074
213
920582338988759229
11,9791,105
211440259194
5961,3004,3073,8371, 399
1, 9491,134
142321395
' 24. 41' 10. 74
3.991.912.36
' 13. 683.022.973.81
r 25. 54'11.27'4.32••1.96'2.45
'14.27r 3.22'2.98'4.18
240 761.3
179.513.8
28.8132 4
18, 294
5,8943,2923,082
211
883564319943718224
12, 4001,142
218444276204
6281,3414, 4864 0281, 466
2,0011 162
155325407
r 25. 98' 11. 72
4.881.902.35
r 14 263.163.143.89
' 27. 18' 12. 33
r 5.27* 1.95'2.44
' 14. 85' 3 36'3.14'4.26
265 863.4
202.417.0
36 3144 2
18, 648
6,0133, 2323,027
205
919600319
1,036812224
12, 6351, 183
219467295202
6271,3794,5164 0601,505
2,0931 241
165318404
18 543
6,0763 4053 203
202
895580315936719217
12, 4671, 124
213450266195
6371,3444 5074 0481,481
2,0331,201
160317397
' 27. 49' 11.83
4.632.052.40
r 15 653.643.144.76
' 27. 23' 12. 47' 5.43'1.98'2.44
' 14. 76r 3 32' 3 09'4.29
256 655.6
201.013.1
34 1149 4
18, 385
5.8143 1742,976
198
927606321932723209
12, 5711,190
229464314183
6081, 3054,4333 9701,455
2,2371 316
222327421
18 398
5,9173 3483, 150
198
841541300916713203
12 4811 130
211444283192
6381,3464 5944 1271,464
1,9801, 131
166330418
' 28. 08••12.11
4.792.082.38
r 15 973.683.194.91
' 27. 36' 12. 52
r 5 48'1.97'2.44
' 14. 85r 3 37' 3 11'4.30
238 748.3
190.58.5
24 8152 5
22, 153
6, 0912,9982,731
267
1,123696427892601291
16, 0621, 979
440749528262
8181, 3525,0874 5791, 511
3,fi042 104
258674637
17 887
5,4882 9702,757
213
840541299895674221
12, 3991 100
210425278187
6331, 3584 5024 0621,502
1,9911,173
157311391
' 25. 98'11.72
4.881.902.35
' 14 263.163. 143.89
' 27. 18' 12. 33
r 5 27' 1. 95'2.44
' 14. 85r 3 35' 3 14'4.26
195 753 6
142.111.06. 7
19 0105 4
15, 803
4, 6342, 6762, 526
150
723445278659493166
11, 169886187347202150
6061,2294, 2873 8601 381
1, 456829120222359
17 773
5, 3592 8482 651
197
844528316913689224
12 4141 144
224442281197
6151,3404 5634 1151, 465
l , 9 f O1 112
If; 23°c)422
r 25. 84' 11.78
5.011.842.37
r 14 063.103 053.83
'26 83' 11.93' 4 90'1.91'2.44
' 14. 90' 3 41r 3 12
' 4^23
188 650 0
138. 59.84. 1
22 8101 9
15, 071
4,4792 5872 438
149
682431251632475157
10 592775146315179135
5881 1354 1733 7471 282
1, 417796117239341
17 795
5,3482 8902 687
203
812509303900682218
12 447I 130'211441277201
6291 3394 5904 1221 473
1 9981 159' 149331405
r ?6. 30* 11 86
5.031.852.41
r 14 443.223 124 02
' 26 57'11.68
r 4 eg'1.89'2.42
' 14. 89r 3 33r 3 1(5
' 4^24
236 257 8
178.312.84. 7
29 0131 9
17, 934
5, 4673, 1903,007
183
776488288820625195
12, 4671 191
200457302232
6271,2824 7024 233l'429
1,9211 105
163312374
18 127
5, 5473 0442 838
206
833515318944720224
12 5801 161
224437294206
6341 3PO4 6034 1281 491
2 0391 172
168334407
' 26. 67r 11.81
4.831.902.46
' 14 863.343 194.25
'26 07'11.35
r 4 37'1.90'2.40
' 14. 72r 3 26' 3 18' 4.' 23
241 860 4
181.513.15. 1
31 0132 2
17, 398
5, 4143 0882,890
198
768493275878666212
11, 9841 019
181401238199
6071,3134 4864 0361 439
1,8031 052
134286375
17 860
5,4092 9192 714
205
872547325900687213
12 4511 076
205409265197
6281 3804 5484 0851 474
2 0271 192
1613224°0
'26.87' 11.81
4.781.902.48
' 15 063.383 194 33
'26 18'11.25r 4 28'1.89'2.41
' 14. 93' 3 36r 3 16
'4! 31
249 362 2
187.115.84. 6
32 3134 4
18 532
6,0063 4133 192
221
844553291990755235
12, 5261 105
205434260206
6291 3864 5744 1141 523
1, 9661 143
156312383
17 995
5, 5493 1052 900
205
839537302877673204
12 4461 103
216415280192
6301 3474 6244 if;41 480
1 9741 132
157335400
' 26. 70' 11 86
4.871.922.46
' 14 843.303 194 24
r 26 23'11.31
r 4 38' 1.91'2.37
' 14. 92' 3 36r 3 17' 4.' 30
236 561.3
175.313.85.0
30 4126 0
18 907
6,2143 4543,207
247
895563332
1 039799240
12, 6931 109
242405256206
6241 4324 7714 2951 568
1,9931 180
142315393
18 199
5, 5863 0^82 854
214
857547310899687212
12 6131 136
229435275197
6421 3704 6224 1571 500
2 0671 205
IfiO339416
' 26. 23' 11 73
4.781.892.43
r 14 503.153 194 08
r 26 22'11.37
r 4 44'1.90'2.38
' 14. 85r 3 33
' 3 18'4.24
207 760.6
147.110.85. 5
21.0109 7
17, 922
5, 6403, 0332, 796
237
845534311
1,008783225
12, 282953190358224181
6291,4904 6824 2101 604
1,7721 018
120300404
18 0°6
5,5052 9342 717
217
883568315926704222
12 5211 118
218434266200
6491 3354 6104 1431 485
2 0691 237
155324393
' 26. 09' 11 63
4.711.872.42
' 14 463.123 184 10
r 26 34' 11. 46
r 4 49'1.90'2.40
' 14. 88r 3 39
r 3 20'4.' 26
224.461.3
163. 110.83. 8
21.8126 7
18,325
5,7122,9852,745
240
914583331
1,057838219
12, 6131 039
182399260198
6301 5074 6444 1721 616
2,0321 177
163330398
18 181
5,4722 9352 721
214
883557326914703211
12 7091 177
2304532892Q5
6441 3454 6S44 2141 5">3
2 0821 2^8
163351409
' 25. 70' 10 74
3.861.892.34
' 14 963.383 224 30
' 25 98' 11.01
r 4 15
' 1.' 90'2.35
' 14. 97r 3 31
r 3 27
' 4.' 28
231.859.1
172.713.74. 2
26.9127 9
18,158
' 5, 386'2 7bl' 2, 510
'221
'879' 553
326'985' 775'210
'12 772' 1 153
201'438'285r 229
' 699' 1 440' 4 816r 4 357' 1 519
' 2, 070'1 295
150331
r 403
'18 141
' 5, 620' 3 119r 2 893
' 226
r g76r 556
320' 875' 670' 905
'12 5°1r 1 106
r 918' 430' 265' 193
r 641r \ 377' 4 602'4 1 53' 1? 511
2 0751 295
157331' 386
' 26. 26r 10 72
3.811.912.31
' 15 543. 593 284 58
r 26 34' 11.26' 4 38'1.89'2.34
' 15. 09' 3 33r 3 31' 4.' 32
260.963.2
197.813.95. 2
34.1144 6
'18,797
' 6, 083' 3 332
3,106226
'919594325
1 034828206
'12 714r 1 206
231466303206
6311 4174 5164 0681 547
2, 1621 984
339
396r!8 629
' 5, 9003 3013 079
229
884565319993795198
r\^> 7921 191' 23845728691 A
6411 3774 6394 181l' 518
2 0981 216
165349
27.0110 973.901.962.30
16 043.703 384 82
26 4111.274 371.892.33
15. 153 393 39
4^35
1 19 4261 6 211i 3 485
i 978
i 13 215i \ 976
i 6411 3704 6024 1411 569
2,4381 462
1 1 Q 97O
i 6, 306
t -12 964
' Revised. i Advance estimate. 9 Includes data not shown separately,cf Comprises lumber yards, building materials dealers, and paint, plumbing, and
electrical stores.JRotail inventories have been revised beginning 1946 to incorporate (1) adjustment to
the Annual Retail Trade Reports of the Census Bureau, (2) adjustment to the latest Stand-ard Industrial Classification, (3) new seasonal factors, and (4) data for Alaska and Hawaii.Revisions for Dec. 1957-Sept. 1960 appear on p. 24 of this issue of the SURVEY; those for theearlier period are available upon request.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-12 SURVEY OF CUKRENT BUSINESS December 1961
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 I960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
DOMESTIC TRADE—Continued
RETAIL TRADE— Continued
Firms with 4 or more stores:Estimated sales (unadjusted), total mil. $._
Firms with 11 or more stores:Estimated sales (unadj ), total 9 do
Apparel group 9 - - do _ _Men's and boys' wear stores _ __ _ _ _doWomen's apparel, accessory stores _ doShoe stores do
Drug and proprietary stores doEating and drinking places _ doFurniture, homefurnishings stores do
General merchandise group 9 - doDept stores, excl mail order sales do _ _Variety stores do
Grocery stores doLumber yards, bldg. materials dealers a"1- doTire battery, accessory dealers do __
Estimated sales (seas adj ) total 9 do
Apparel group 9 do _ _Men's and bovs' wear stores do\Vomen's apparel accessory stores doShoe stores do
Drug and proprietary stores doEating and drinking places doFurniture homefurnishings stores do
General merchandise group 9 doDept stores excl mail order sales do
Grocery stores doLumber yards bldg materials dealerscf doTire battery accessory dealers do
Department stores:Accounts receivable, end of month:
Charge accounts 1947-49—100Installment accounts do
Ratio of collections to accounts receivable:Charge accounts _ _ percentInstallment accounts do _
Sales by type of payment:Cash' sales _ _ percent of total sales -Charge account sales doInstallment sale? do _ _
Sales, total United States:Unadjusted 1947-49=100Seasonally adjusted do _ _
Stocks, total U.S., end of month:Unadjusted doSeasonally adjusted do
WHOLESALE TRADE
Sales estimated (unadj ), total ___ _bil. $Ourublo goods establishments doNondurable goods establishments do
Inventories estimated (unadj ) total doDurable goods establishments doNondurable goods establishments do
4,456
3,889
25419
10878
1027938
1,210717248
1,6256981
170383
4715
434215
144
156
12.34.6
i 12. 66.46.2
4,724
4,223
29329
11885
1219337
1,290781251
1,7856982
177433
4615
434215
145
165
12.34.47.9
i 13.26.66.6
4,904
4,343
30931
12585
1229641
1,361842243
1,7868182
4 264
29830
12286
1249438
1,306807246
1,7907183
171422
4715
414316
153148
'187167
12.84.58.2
13.66.96.7
4,970
4,387
31234
12980
1209145
1,453877253
1,7477080
4,269
29529
12185
1259439
1,282770253
1,8227082
184431
4815
424315
171'144
192169
12.94.38.6
13.66.86.8
6,800
6,003
51158
213123
1879144
2,3211,370
5232,093
57108
4,245
27927
11379
1249137
1,295800237
1,8176781
244479
4815
444214
262r 146
150r 166
12.64.18.5
13.26.66.6
4,107
3,534
200237662
1138428
910548164
1,6954859
4 195
28930
11688
1229036
1,250745246
1,8086779
210480
4514
434017
108142
145162
11.43.87.6
13.16.66.6
4,044
3,472
186187657
1088029
897534179
1,6694762
4,262
29329
12088
1239033
1.303793248
1,8086884
173482
4514
424216
109145
153161
11.33.77.6
13.16.76.4
5,047
4,334
32829
128102
1219236
1,240747241
1,9305778
4 348
29529
11988
1249436
1,339793258
1 8356789
165449
4916
424315
132146
164161
12.84.28.5
13.46.86.6
4,763
4,065
26324
10683
1189335
1,1837322"
1,7826087
4,270
27426
11281
1259537
1,329812949
1,7956290
164441
4414
434215
134148
169162
11.74.07.7
13.36.96.5
4,988
4,263
29228
11987
1199642
1,286783245
1,7986895
4 282
29129
11486
1219540
1,299768964
1 8286184
164437
4815
434215
140144
165164
12,84.48.3
13.36.86.5
5,193
4,462
29532
11691
1229839
1,320818249
1,92174
109
4 371
29030
11784
1259538
1,344802268
1 8516394
162433
4815
434116
141149
156164
12.84. 68.2
13.36.86.5
4,805
4,133
242239873
12110037
1,171709234
1,82071
103
4 360
29729
11882
1249341
1,357831253
1, 8276295
149428
4714
434017
126151
157166
11.94. 1
13.36.86.5
5,077
4,339
27022
11179
11910137
1,344806260
1,80276
101
4,446
32332
12390
1239336
1,362810279
1, 8656293
153428
4815
434116
1 36150
105169
13.34.68.7
13.56.86,7
r 5, 282
4 509
30524
12297
12210136
1 352834256
1 9537192
4 386
28828
19082
1269836
1 350827261
1 8566196
162430
4615
424216
150150
178170
r 12. 6
4.4'8.2
13.66.86.8
5,237
4,423
31032
12585
1229841
1,421872261
1,7717496
4 441
30832
12590
1269638
1 379830276
1 8456497
170445
4816
414316
T P 154P 151
P 190v 170
13.74. 79.0
13.86.87.0
v 182P 153
EMPLOYMENT AND POPULATION
POPULATIONPopulation, U.S. (incl. Alaska and Hawaii) :§
Total, incl. armed forces overseas mi l__
EMPLOYMENTNoninstitutional population, est. number 14 years
of age and over total unadj ^ mil
Total labor force, incl. armed forces J thous__Civiliaii labor force total 1 do
Employed, total do __Agricultural employment doNonagricultural employment do
Unemployed total do _Long-term (15 weeks and over) _ do__ _
Percent of civilian labor forceNot in labor force! thous__
Givilian labor force seas adj * doEmployed total do
Agricultural employment doNonagricultural employment do
Unemployed total doPercent of civilian labor force _ _ _ _
2 177.26
123. 37
71, 94669, 39465, 5815,836
59, 745
3,8131,040
5.551, 420
2 180.67
125. 37
73, 12670, 61266, 6815,723
60, 958
3,9319565.6
52, 242
181. 52
125. 94
73, 59271, 06967,4906,247
61, 244
3,5799925.0
52, 344
70, 57566, 3625,659
60, 6974,414
6.3
181. 78
126. 22
73, 74671,21367, 1825,666
61, 516
4,0319875.7
52, 476
71, 35667, 0485,799
61,2104,389
6.2
182. 02
126. 48
73, 07970, 54966, 0094,950
61, 059
4,5401,015
6.453, 403
71,11866, 4075,824
60,4544,819
6.8
182. 26
126. 72
72, 36169, 83764,4524,634
59, 818
5,3851.339
7 754, 364
71,48166, 5835,721
60, 6674,736
6.6
182. 49
126. 92
72, 89470, 36064, 6554,708
59, 947
5,7051,624
8.154, 024
71, 94366. 7925,848
60, 8604, 891
6.8
182. 71
127. 12
73, 54071,01165, 5164,977
60, 539
5,4951,862
7.753, 574
72, 16667, 0585,774
61,2124,970
6.9
182. 95
127. 34
73, 21670, 69665, 734
5, 00060, 734
4,9622,128
7.054, 121
71,41066, 5325,263
61, 2244,889
6.8
183. 17
127. 56
74, 05971, 54666, 7785,544
61, 234
4,7681,915
6.753,499
71, 40366, 5785,196
61,4804,923
6.9
183.41
127. 77
76, 79074, 28668, 7066,671
62, 035
5,5801,575
7.550, 977
72, 40467, 2935,582
61,9114,946
6.8
183. 65
127. 99
76, 15373, 63968, 4996,453
62, 046
5,1401,634
7.051, 833
71, 63366, 7635,487
61,4324,938
6.9
183. 91
128. 18
75, 61073, 08168,5396, 325
62, 215
4,5421,440
6.252, 573
71, 78966, 9985,683
61,4174,957
6.9
184. 20
128. 37
73, 67071, 12367, 0385,666
61, 372
4,0851,257
5.754, 701
70, 98166, 3095,208
61, 1884,843
6.8
184. 48
128. 57
74, 34571,75967, 8245,964
61, 860
3,9341,240
5 554, 226
71,26066. 6905, 402
61,3084,831
6.8
184. 74
128. 76
74, 09671, 33967, 3495,199
62, 149
3,9901,137
5.654, 659
71, 48267, 2155,321
61, 8404,345
6.1r Revised. p Preliminary. 1 End of year. 2 As of July 1.9 Includes data not shown separately.e/1 Comprises lumber yards, building materials dealers, and paint, plumbing, and elec-
trical stores. § Estimate for July 1, 1959, excludes Hawaii.
^Average for 1959 excludes Alaska and Hawaii; later data include these States.*New series. Since series are seasonally adjusted separately, components may not add
to totals. Monthly data (1948-60) appear in "Employment and'Earnings," BLS (Feb. 1961).
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 19C1 SURVEY OF CURRENT BUSINESS S-13
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Employees on payrolls (nonagricultural estab.):fTotal, unadjusted f — - - thous
Manufacturing establishments _ __do _Durable goods industries doNondurable goods industries do _ _
Mining, total 9 doMetal doCoal mining doCrude petroleum and natural gas do
Contract construction doTransportation and public utilities? do
Railroad transportation doLocal and interurban passenger transit do
M^otor freight trans and storage doAir transportation doTelephone communication doElectric gas, and sanitary services do
Wholesale and retail trade.- doWholesale trade _ doRetail trade do
Finance, insurance, and real estate doServices and miscellaneous _ doGovernment do
Total, seasonally adjustedf doManufacturing establishments do
Durable goods industries.- __do_ .Ordnance and accessories doLumber and wood products __doFurniture and fixtures doStone, clay, and glass products __ __doPrimary metal industries do
Fabricated metal products doMachinery. doElectrical equipment and supplies do
Transportation equipment. __ doInstruments and related products doMiscellaneous manufacturing ind do
Nondurable goods industries do..Food and kindred products doTobacco manufactures _ _..doTextile mill products doApnarel and related products doPaper and allied products do
Printing, publishing, and allied ind__doChemicals and allied products doPetroleum refining and related ind _ doRubber and misc. plastic products doLeather and leather products _ _ do _
M in in g doContract construction doTransportation and public utilities __ do ._Wholesale and retail trade doFinance, insurance, and real estate - do .__Services and miscellaneous _ doGovernment do
Production workers on mfg. payrolls, unadjusted:!Total, unadjustedf- _thous_
Seasonally adjusted doDurable goods industries, unad justed _ _ do
Seasonally adjusted doOrdnance and accessories doLumber and wood products _ doFurniture and fixtures __doStone, clay, and glass products doPrimary metal industries __do_ __
Blastfurnaces steel and rolling mills doFabricated metal products doMachinery doElectrical equipment and supplies. _.doTransportation equipment 9 do
Motor vehicles and equipment doAircraft and parts __do
Instruments and related products doMiscellaneous mfg. industries do
Nondurable goods industries, unadj doSeasonally adjusted do __
Food and kindred products doTobacco manufactures. _ doTextile mill products doApparel and related products doPaper and allied products. __do _
Printing, publishing, and allied ind.-doChemicals and allied products doPetroleum refining and related ind___do
Petroleum refining - . d oRubber and misc. plastic products. _ .doLeather and leather products do.. -
53, 380
16, 6679,3697,298
73184
197331
2,9554,010
925281
848180707612
11,1252,9418,1842,5977,1058,190
1 53, 38016, 6679, 369
173661385602
1,182
1,1211,4511,391
1,670345388
7,2981,790
95943
1,225585890810215371375731
2, 9554,010
11, 1252, 5977,1058, 190
12, 596
7,031
84594321494953415867
1,026967
1,181539463230313
5, 565
1,22284
8551,091
470576506140115289333
54, 347
16, 7629,4417,321
70993
182314
2,8824,017
887283
874191706613
11,4123,0098,4032,6847,3618,520
54, 34716, 7629,441
187637383595
1,229
1,1291,4711,446
1,617354392
7,3211,793
94915
1,228593917830212374366709
2,8824,017
11,4122,6847, 3618,520
12, 562
7,021
89570319483992471869
1,030987
1,133566392232316
5,541
1,21183
8271,094
474592511138113289323
54,882
16, 7399,2997,440
70694
175312
3,1104,015
864280
900192706612
11,5093, 0458,4642,7027,4528,649
54. 19016, 4899,208
190618376588
1,151
1,1121,4381,405
1,595348387
7,2831,803
96890
1 212592922828210364364698
2,8773,991
11,4232,7077,4158,590
12, 53012, 2786,8806,784
89571321485922418868980955
1,124569379228336
5,6505,4941,308
104813
1,094478603506137112288320
54, 595
16, 5389,2247,314
69591
171312
2,9423,992
845284
896191704611
11,6083,0448,5642,7057,4168,699
53,99516, 3519,111
192608372576
1,127
1,0921,4331,417
1,565348381
7,2401, 791
93884
1,203589925827208359361693
2,8323,976
11,3712,7197,4318,622
12, 32412, 1336,7976,680
92545314470900403850978979
1,121567384228321
5,5275, 4531,225
88804
1,090474604502135111282321
54, 706
16,2139,0367,177
68291
167310
2,6303,966
844285
874191701610
12, 1463,0579,0892,7097,3808,980
53, 70716, 1748,988
194594364564
1,107
1,0731,4141,402
1,553345378
7,1861,788
92876
1, 180584922824206356358679
2, 7573, 950
11,3342,7237,4478,643
12, 00511,9626,6136,568
92518302449880390826972952
1, 101554382224297
5,3925,3941,169
85791
1, 055466599500132110277318
52, 864
15, 9338,8677,066
66690
164306
2,4573,888
812284
849190698607
11,2332,9958,2382,7027,3138,672
53, 58116, 0218,863
195596356556
1,092
1, 0551,4011,405
1,491343373
7,1581,785
91870
1, 171584
920821205352359
6722,7733,931
11,3472,7277,4398,671
11,74011,8206,4496,447
92502294429866386804968946
1,047503380221280
5,2915,3731,121
81778
1,039463591497131109271318
52, 523
15,8388,7697,069
65686
163304
2,3423,871
811282
832191697606
11,0402,9748,0662,7067,3338,737
53, 48515, 9628,797
196591358551
1,084
1,0411,3941,411
1,455341375
7, 1651, 785
91869
1, 182583922819204350360667
2,7653,922
11,2962, 7317,4608,682
11,64211,7556,3516,377
91490294421858389784970939998457379217286
5,2915,3781 101
77778
1,071459591495129109266322
52, 785
15, 8668,7757,091
65486
158304
2,4543,872
807278
840191697606
11,1012,9648,1372,7107,3598,769
53, 56116, 0238,820
196595361557
1,085
1,0401,3881,416
1, 468340374
7,2031,794
92870
1,201585925822204351359668
2 7923,919
11,2522,7327,4638,712
11,66611,8126,3586,403
92492294431861395780968934999454380217289
5,3085,4091,104
72779
1,082461594502130108266318
53, 171
15, 9048,8367,068
65786
153306
2,6193,870
809273
837194696604
11, 1622,9558,2072,7247,4488,787
53, 66316, 1198,904
196601365561
1,101
1,0571,3951,422
1,487342377
7,2151,787
90877
1,204585924824205356363666
2,7663,901
11,3202,7327,4258,734
11,71211,9106,4266 491
91514297444873406790972931
1,006464377217293
5,2865,4191 114
68785
1,046462592509131108268311
53, 708
16, 0768,9967,080
66887
153310
2,7753,891
813270
853196694608
11,2382,9598,2792,7347,5108,816
53, 89416, 2759,058
199602366569
1,135
1,0841,3981, 439
1,537346383
7,2171,772
89884
1, 196588925828206365364670
2,7423,903
11,3552,7397,4368,774
11,87512, 0606, 5826 637
93537296458904425816971943
1,044504374219302
5,2935,4231 121
66791
1,033464590509132108274311
54, 429
16, 3209,1067,214
67888
154314
2,9713,945
826266
880197697616
11, 3542,9908, 3642,7667,5988,797
54, 18216, 3739,114
200606368573
1,151
1,0851,3961,442
1,560347386
7, 2591, 775
90887
1,210592929834206371365669
2,7953,914
11,3922,7477,4718,821
12. 09012, 1456,6786,682
93565301470926436825967950
1,050515371220310
5,4125,4631,184
67800
1,050474594507134109279322
54, 227
16, 2689,0517,217
67288
143318
3,0233,977
832258
891201702622
11,3273,0138,3142,7957,6318,534
54, 33516, 3929,138
202604370575
1,170
1,0821,4011, 442
1,559349384
7, 2541,773
88887
1 , 208593932836203372302072
2, 7763,942
11,4372,7487, 5338,835
12, 02312, 1646,6166,709
94563300471927442809957944
1,033505370218301
5,4075, 4551 226
65788
1,034467594506132106277318
54, 538
16, 5319,0837,448
67786
154315
3.0753,971
835257
891203701623
11,3423,0448,2982,8017,6068,535
54, 33316, 3819,131
202603371578
1,174
1,0941,4041,444
1,530349382
7,2501,770
90882
1,213592929835205372362
6652,7703,939
11,4102, 7577, 5468,865
12, 27412, 1566,6416,699
94568311477940447831950968961430368222317
5,6335,4571,318
89802
1, 100475594509135109284327
' 54, 978
'16,646'9,189r 7, 457
-•67688
"155••311
' 3, 021'3,971
'826'268
r907203694
'616
'11,3783, 0358,3432,7707,6128,904
'54,304'16,323'9,105
203'603'370'573
'1,179
'1,090'1,400'1,428
'1,528' 350'381
'7,218r 1,769
96880
'1,194589
'• 927r 832' 202' 372' 357' 666
' 2, 754'3,939'11,363
r 2, 756' 7, 567' 8,936
'12,407'12,104' 6, 753' 6, 673
'97'565'314
477'955
457'839'960
982'1,013
'470'379
226'326
' 5, 654' 5, 431' 1 335
' 106804
T 1 , 082'476'599' 509
133108
' 292319
55, 101
16,616'9,212' 7, 404
'667'86156
'305
'2,976'3.953
822267
912202688608
'11,467' 3, 053'8,414' 2, 757' 7, 625' 9, 040
'54,420'16,369'9,123
'208'600' 3(59'574
'1,178
'1.090'1,411'1,461
'1,499r 349r 384
' 7, 246'1,787
'91882
'1,201' 591
' 920835
r 203'370' 360
' 660' 2, 75-'-$'3,929
'11,382' 2, 703' 7, 587'8,977
'12,382'12,136' 6, 775' 6, 681
98'554
315••470' 954
451'847'957
'1,003'1,018
464385
'226'334
' 5, 607' 5, 455'1,287
'97'806
'1,085'477
'603510
'132107
'295'317
"55, 077
"16,636"9,322"7,314
"665
"2,816"3,943
"11,583* 3, 055v 8, 528v 2, 752" 7, 582P9.100
"54, 478"16,450p9,210
p 205P610P371p 575
"1,179
p 1,094"1,410p 1 , 459
p 1,573P 350p 384
" 7, 240P 1,793
p84P 884
"1,193p 590
"924"837"202" 370"303
P 003"2,710P 3, 927"11,347p 2, 700p 7, 597"9,018
"12,385"12,195p 6, 869P 0, 752
"98"550"314"467"955
"850"958
"1,013"1,114
"226"324
"5,516"5,443"1,219
"78"806
"1,081"474
"601" 509"130
"294"324
* Revised. ? Preliminary. * Total and components are based on unadjusted data.t Revised series. Beginning with the Nov. 1961 SURVEY, data for employment, hours,
earnings, and labor turnover have been adjusted to the Mar. 1959 benchmark and havebeen converted to the 1957 SIC. Effective Jan. 1959, the data include Alaska and Hawaii.
The revision affects all series; previously published estimates are not directly comparablewith the revised data. Unpublished revisions (prior to Sept. 1960) on new basis are in BLSBulletin No. 1312 ($3.00), available from Gov't. Printing Office, Wash. 25, D.C.
9 Includes data for industries not shown separately.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-14 SURVEY OF CURRENT BUSINESS December 1961
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
EMPLOYMENT AND POPULATION—Continued
EMPLOYMENT— Continued
Miscellaneous employment data:Federal civilian employees (executive branch) :
United States thous..\Vash D C metropolitan area do
Railroad employees (class I railroads):Total do
Index, seasonally adjusted 1947-49=100--
INDEXES OF WEEKLY PAYROLLS!
Construction (construction workers) !.1957-59=100__Manufacturing; (production workers)! _ _ do_ _ _
HOURS AND EARNINGS!
Average weekly gross hours per worker on payrollsof nonagricultural estab., unadjusted:!
All manufacturing estab., unadj.! hours__Seasonally adjusted do
Average overtime doDurable goods industries _ _ do
Seasonally adjusted.. .doAverage overtime __ do
Ordnance and accessories . . doLumber and wood products do_ .Furniture and fixtures doStone, clay, and glass products _doPrimary metal industries do
Blast furnaces stee^ and rolling mills do
Fabricated metal products _. do -Machinery doElectrical equipment and supplies do- -
Transportation equipment 9 do --JVlotor vehicles and equipment doAircraft and parts.. _ _do_ _ .
Instruments and related products doMiscellaneous mfg. industries _.do
Nondurable goods industries, unadj doSeasonally adjusted do
Average overtime doFood and kindred products doTobacco manufactures doTextile mill products doApparel and related products. ... _ doPaper and allied products do
Printing, publishing, and allied ind doChemicals and allied products do _ _Petroleum refining and related ind. __do _
Petroleum refining doRubber and misc. plastic products doLeather and leather products do
Nonmanufacturing establishments:!Mining 9 do
M'etril mining doCoalmining __ _ _ _ do _Crude petroleum and natural gas do
Contract construction __.doGeneral building contractors. doHeavv construction doSpecial trade contractors do
Transportation and public utilities:Local and suburban transportation doMotor freight transportation and storage-doTelephone communication do"Electric g?s and sanitary service6' do
Wholesale and retail trade doWholesale trade doRetai1 trade § do
Services and miscellaneous:Hotels, tourist courts, and motels ...doLaundries, cleaning and dyeing plants.do
Average weekly gross earnings per worker on pay-rolls of nonagricultural establishments:!
All manufacturing establishments! dollars..Durable goods industries do -_
Ordnance and accessories doLumber arid wood products do
Furniture and fixtures doStone, clay, and glass products doPrimary metal industries do
Fabricated metal products ._ do ._Machinery doElectrical equipment and supplies do
Transportation equipment 9 doInstruments and related products doMiscellaneous mfg. industries _ _ d o
2,192210
841263.2
106.1105.197 1
40.3
2 740.7
2.7
41.239.740.741.240 5gq 8
40.941 540.5
40.741 140.740.839.9
39.7
2 741.039 140.430. 342.8
38.541.441.240 841.337.9
40 540 335.442.6
37.035.740 836.3
43.442.239 241 039 340 638.7
40.039.0
88. 2696. 05
106. 3074.24
74.4891. 46
112. 19
96. 12102 9289.10
107. 4591. 3973.42
2,243215
805260.5
106.9106.695 2
39.7
2.440.1----
40.739.040.040.639 038 0
40.541.039.8
40.741 040.940.439.3
39.2
2 540.938 239.535.542.2
38.541.341.140 839.936.9
40.441 835. 542.0
36.735.440 735.9
43.141.539 641 039 040 538.5
39.938.8
89.7297.44
108. 6773. 71
75.2092. 97
109. 59
98.82104 5590. 74
111.5293.7374.28
2,189214
78260.1
123.3106.794 7
39.739.52.5
40.239.92.5
40.639.440.341.137.936 0
40.640.740.3
41.241 941.140.639.8
39.138.92.5
41.340. 638.835.342.3
38.641.041.340 739.935.8
40.441 034.941.8
38.236.442 837.2
42.941.840 041 238 940 638.2
39.539.3
90.1297. 69
109. 6275.65
76. 1794.94
105, 36
99.47104 1992.29
114.9595. 0075. 22
2,189215
76458.9
107.9103.990 7
39.339.3
2 239.639.7
2. 1
40.738.239.540.637 435 2
40.040.339.8
40.440 541.240.639.5
38.938.7
40.937 638.935.041.8
38.541. 140.941 039.536.4
39 740 533.542 1
35.834.638 835 2
43.141.240 441 238 840 538 1
39.138.8
89.2196. 23
110.3071.05
74. 2693.38
103. 60
97.60103 1791. 94
111 9195.0075.05
i 2, 4781 222
75958.2
92.4100.589 3
38.738.52. 1
39.139.02.0
40.137.639.739.337 235 3
39.340. 139.1
40.039 741.339.238.0
38.238.12 2
40.739 138.133 241.0
38.040. 740.840 838.835.8
39 641 434.841 4
34.233.037 233.9
43.541.039 541 239 040 438 4
39.438.1
88.6296. 19
109. 4769.94
75.4390.39
104. 90
96. 68103 4691.49
111.6092. 9072. 96
2,180215
73154.6
91.098.989 o
38.939.0
1 939.339.31.8
40.838.538.239.637.736 2
39.540.439.8
39.237 541.740.338.9
38.538.7
2. 140.437.738.034.241.4
38.041.041.341 439.237.8
40. 141 135.442.0
36.435.739 435.8
42.040.539 040 938 740 338. 1
39.238.5
89.0896.29
111.7970.84
72. 2091.08
106. 69
96. 78104 2392. 73
108 1995. 5175.08
2,186215
73055.0
85.098.085 8
39.039.3
1.939.339.61.8
40.438.438.539.437 936 5
39.440.539.7
39.437 841.640.239.2
38. 538.82.1
40.237.038.534.941.6
38.040.940.240 439.137.3
39.641 034.741.6
36.135.539 235.4
42.840.839 140 938 740 138.1
39.138.2
89.3196.29
111.5069. 89
72.7790. 62
107. 26
96. 92104 9092.50
108 7494. 8775.66
2,193216
72755.2
88.698.982 9
39.139.32.0
39.539.71.8
40.838.538.739.838.236 9
39.640.439.7
39.838 541.540.239.1
38.739.12.2
40.236. 638.835.541.8
38.241.240.6
.539. 136.9
38.940 531.541.9
35.834.838 935.3
42.640.638 840 738 640 238.0
39.238.6
89.5497. 17
112.6171.23
73. 1491.54
108. 49
97.81105 0492. 50
109. 8595. 6875.46
2,205217
72955.6
95.9100. 385 6
39.339.72.1
39.840.02.0
40.638.83S.740.138.938 1
40.140.839.8
40.239.841.140.339.0
38.739.32.2
40.038.239.035.142.2
38.141.241.241.039.735.9
39.540 932.841.8
35.834.938.335.3
4? 840.838 740 638.740 338.0
39.038.5
90.7898.31
112.0674. 88
73. 1493.03
111.25
99.45106. 4993.13
110.9595. 5175. 27
2,212216
73454.5
105.6103.088 3
39.739.82.2
40.240.22.1
40. 539.738.740.739.538 8
40.540.939.9
40.640.740.940.439.1
39.039.32.3
40.938.139.534.942.2
38.041.241.140.740.136.8
40.240 634.641.6
36.835.940.036.0
43.241.338.940 738.740.338.0
39.339.5
92.1099.70
112. 1977.42
73. 5394. 83
114. 16
100. 85106. 7593.37
112.8795.7575.07
2,248224
74755.0
117.1106.492 6
40.139.92.4
40.640.42.3
40.540.539.841.440.239 6
41.041.140.3
40.640.940.740.839.7
39.639.52.6
41.439.440.235.442.9
38.241.741.841.040.637.9
41.142 036.841.5
37.736.541.436.8
43.642.239.240 839.140.638.4
39.639.7
93.03101.09112. 1979.79
76.0297. 29
116.58
102. 09107. 6894.71
112.8797.1076.22
2,265226
75255.5
120.3105.793 0
40.040.02.5
40.340.52.3
40.239.539.841.340.339.9
40.740.939.7
40.540.540.940.539.1
39.739.52.6
41.438.239.935.942.8
38.141.542.041.440.738.3
41.641.638.042.1
37.936.541.737.0
43.041.739.641 039.440.738.8
40.839.1
93.20100. 35111.7678.21
75.6297.06
117.68
101.75107. 1693.69
113.0096.8074.29
2,271225
75555.8
125.0107.692 2
40.240.02.6
40.540.52.5
40.640.240.941.639.939 2
41.140.940.4
40.239.741.140.939.4
39.839.32.8
41.440.140.536.543.0
38.341.541.040.340.637.6
41.141.436.641.7
38.537.043.137.3
43.342.639.540 939.340.638.6
41.138.7
92. 86100. 44112.8779.19
78.1298.18
116.11
102. 34106. 7594.94
112.9697.7574.47
2, 253'220
745'56.0
' 120. 7' 108. 5'93.2
'39.8'39.6"2.8
'40.0' 30. 8'2 .7
40.9MO.l' 41. 2
41.3'40.2
40.2
'40.1'41.0' 39. 8
'37.8' 34. 1
41.441.0
'39.8
39.539.2'2.9
'41.6'41.6'40.3
34.5'43.1
'38.4'41.2
41.640.9
' 40. 8' 36. 4
'41.0'41.7' 36. 6'41.6
'37.435.9
'40.6'36.7
'42.9'42.1'40.3
41.1' 38. 8
40.5'38.0
'39.438.7
' 92. 73'100.00'114.11'81,00
' 79. 52" 97. 47
'118.19
'99 45'107.83' 93. 53
'106.2297.99
' 70. 02
2, 254221
P742P 57. 0
121.5'110.5
93.8
'40.4' 40. 2'2 .8
'40.9' 40. 6' 2 .7
'41.4' 40. 5'41.3
41.4' 40. 3
39.5
41.1'41.1'40.8
'41.341.641.5
'41.040.1
'39.7' 39. 5'2.8
'41.3' 40. 5'40 9r 35. 8' 43. 1
38.341.541.540.8
' 40. 536. 6
41.942 33R.142.5
38. ;?36.8•12. 537.2
42.942. 439 S41 138.640 637. 3
39. 938.9
' 94. 54'102.66'11.5.92'81.00
' 79. 7198. 12
'119.29
'102.75'108 50' 96. 29
r!16. S3' 97. 99' 76. 59
"737*56.7
Vliirr
P40.6MO. 6^2.8
Ml. 2P41.3p2.9
Ml. 4* 39. 0"41.3Ml. 3MO. 4
Ml. 2Ml.lMO. 9
* 43. 3
ML1MO. 2
P39.8P39.6
p 2 7Ml. 3* 38. 1Ml. 5p 35. 7p 43. 2
p 38. 4p 41. 5Ml. 9
MO. 8p37. 5
p 95. 82plOl. 65P116.33p 77. 61
p 80. 12p 97. 88"119.99
pl03. 41pl08 50P96.93
pl25. 57p 98. 64p 77, 18
' Revised. Preliminary.1 Includes Post Office employees hired for the Christmas season; there were about 293,000
such employees in the United States in Dec. 1960. 2 Based on unadjusted data.
! See corresponding note, bottom p. S-13.9 Includes data for industries not shown separately.§ Except eating and drinking places.Digitized for FRASER
http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1061 SURVEY OF CURRENT BUSINESS S-15
Unless otherwise stated, statistics through I960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
EMPLOYMENT AND POPULATION— ContinuedHOURS AND EARNINGS— Continued
Average weekly gross earnings per worker on pay-rolls of nonagricultural estab.f — Continued
All manufacturing estab.!— ContinuedNondurable goods industries dollars--
Food and kindred products do_ __Tobacco manufactures doTextile mill products _ _ _ do.__Apparel and related products _ do
Paper and allied products _ ._ _ _ __doPrinting, publishing, and allied ind doChemicals and allied products doPetroleum refining and related ind doRubber and misc. plastic products doLeather and leather products do
Nonmanufacturing establishments :fMining 9 do
Metal mining _ _ _ _ _ _ d oCoal mining doCrude petroleum and natural gas do
Contract construction _ _ _ _ _ d oGeneral building contractors doHeavy construction doSpecial trade contractors do
Transportation and public utilities:Local and suburban transportation doMotor freight transportation and storage-doTelephone communication doElectric, gas, and sanitary services do _ _ _
Wholesale and retail trade doWholesale trade doRetail trade§ do
Finance, insurance, and real estate:Bankin°" doInsurance carriers. _ do
Services and miscellaneous:Hotels, tourist courts, and motels _ doLaundries, cleaning and dyeing plants, .do
Average hourly gross earnings per worker on pay-rolls of nonagricultural establishments:!
All manufacturing establishments! dollars--Excl tiding overtimed71 do
Durable goods industries doExcluding overtimed1 do _
Ordnance and accessories _ doLumber and wood products doFurniture and fixtures - _ doStone, clav, and glass products doPrimary metal industries do
Blast furnaces, steel and rolling mills .do
Fabricated metal products doMachinery _ doElectrical equipment and supplies doTransportation equipment 9 - - - do
Motor vehicles and equipment doAircraft and parts _ do_ _
Instruments and related products doMiscellaneous mfg. industries. do
Nondurable goods industries doExcluding overtimed1 -- do
Food and kindred products doTobacco manufactures _ doTextile mill products _ _ doApparel and related products _ doPaper and allied products do
Printing, publishing, and allied ind doChemicals and allied products do_ _Petroleum refining and related ind do
Petroleum refining doRubber and misc. plastic products do_ __Leather and leather products clo
Nonmanufacturing establishments:!M ining 9 do
Metal mining doCoal mining . ._ _ doCrude petroleum and natural gas do
Contract construction _ _ _ __ __ doGeneral building contractors doHeavy construction do _Special trade contractors do...
Transportation and public utilities:Local and suburban transportation doMotor freight transportation and storage. doTelephone communication _ doElectric, gas and sanitary services . _.do
W holesale and retail trade doWholesale trade doRetail trade§ d o _ _ _
Services and miscellaneous:Hotels, tourist courts, and motels __ do. _Laundries, cleaning and dyeing plants. _ d o . _ _
'Revised. *> Preliminary.!See corresponding note, bottom p. S-13.SEvoont cnt inp- nml f l r ink inp- nlnnos
78.6182.8264.1263.0256.63
93.3099.7299.36
117. 4294.1660.26
103. 68102. 77109. 03103. 52
108. 41100. 32108. 94113. 62
91.57102. 1285. 46
103. 73
69.1788.9160.76
65.1085.29
42 4046.80
2.192.122.362 28
2.581,871.832 222 773.10
2.352.482.202.642.712.622.241.84
1.981.912.021.641.561.562.18
2.592.40^ 852 992.281.59
o 562.553. 082 432.932 812.673.13
2.112.422 182.53
1.762.191.57
1.061.20
80.3686.3064.9463.6056. 45
95.37102. 80103. 25118. 7892.9760.52
105. 44111.19110. 76103.32
112. 67103. 72114.77118. 11
94.82104. 1789.50
108. 65
70.9891.1362. 37
67.1587.41
43.8948.11
2.262.202.432 36
2.071.891.882.292.813.08
2.442.552.282.742.812.702.321.89
2.051.992.111.701.611.592.26
2.672.502.893.022.331.64
2.612. 663.122 463.072.932 823.29
2.202.512.262.65
1.822. 251.62
1.101.24
80. 5586.7364.1562.4757.19
96.44103. 83103. 73118. 5393.7759. 07
105. 44110. 70108. 54103. 66
119. 18108.11124. 12123. 88
94.81106. 1792.00
111.24
71.1991.3562.65
67.8987.99
45.4349.13
2.272.202. 432.36
2.701.921.892.312.783.02
2.452.562.292.792.872.732.341.89
2.062.002.101.581.611.622.28
2.692.532. 873.002.351.65
2.612.703.112 483.122.972.903.33
2.212.542.302.70
1.832.251.64
1.151.25
80.5286.7164. 3062. 6356.35
95.72103. 57103. 98119.0292.4360. 06
102. 82108. 95103. 18103. 99
110. 98102. 76110. 19117.22
96.11103. 8292.92
111.24
71.0091. 1362.48
67.5387. 85
44.5748.50
2.272.212.432.37
2.711.861.882.302.773.01
2.442.562.312.772.832.742.341.90
2.072.012.121.711.611.612.29
2.692.532.913.032.341.65
2. 592.693.082.473.102.972.843.33
2.232.522.302.70
1.832.251.64
1.141.25
79.8487.1068.0361. 3452.79
94.30103. 36103. 38118. 7391.9658.35
103. 75112. 19107. 53103. 09
108. 0799.33
107. 51114. 58
98.31103. 7391. 64
112. 06
70.2091. 3061.82
67. 5288.07
45.3147. 63
2.292.232.462.40
2.731.861.902.302.823.09
2 462.582.342.792.832.772.371.92
2.092.032.141.741.611.592.30
2.722.542.913.032.371.63
2.622.713.092.493.163.012.893.38
2.262.532.322 72
1.802.261.61
1.151.25
80.4787. 6765.2261. 1855. 06
95.22102. 98104. 14123. 9092.5162.75
106. 27110.97110.09106. 68
115. 39107.46113.87121. 00
95.34102. 0690.48
110. 84
71. 6091. 8863.25
68.4588.90
45.0848.13
2.292.242.452.39
2.741.841.892.302.833.11
2.452.582.332.762.802.752.371.93
2.092.042.171.731.611.612.30
2.712.543.003.132.361.66
2.652.703.112.543.173.012.893.38
2.272.522.322.71
1.852.281.66
1.151.25
9Irc?D
80.4787.2365. 1261.9956.19
95. 68103. 36103. 89121.0091.4961. 55
104. 15110. 29107.22104. 42
114.08106. 50112.11119. 65
97. 16103. 6390.71
110. 84
71.6091.4362.87
69. 0188.74
44.9747. 75
2.292.232.452.39
2.761.821.892.302.833.11
2.462.592.332.762.792.762.361.93
2.092.032.171.761.611.612.30
2.722.543.013.132.341.65
2.632.693.092.513.163.002.863.38
2.272.542.322.71
1.852.281.65
1.151.25
icludes derived b
80.8887.2365. 5162. 8657.51
96.14103. 90104. 24121.8091.8961.62
101. 14109. 3596.71
104. 75
112.41103. 70110.48118. 61
97.13103. 5390. 02
110. 30
71.4191. 6662.70
69.0188.80
45. 0848.25
2.292.242.462.40
2.761.851.892.302.843. 12
2.472.602. 332.762.802.762.381.93
2.092.042.171.791. 621. 622.30
2.722.533.003.142.351.67
2.602.703.072.503.142.982.843.36
2.282.552.322.71
1.852.281.65
1.151.25
ata for iiv assum
81. 2787.2071.0563.1856.51
97.90104. 01104. 24124. 4293.6959.95
103. 49111.25101.35105. 75
112. 77105. 40109. 92118. 96
97. 16104. 4590.17
110. 43
71.9892. 6963.46
68.8289.08
44. 8548.51
2.312. ?52.472.41
2.761.931.892.322.863.15
2.482.612.342.762.822.752.371.93
2.102.052.181.861.621.612.32
2.732.533.023.162.361.67
2.622.723.092.533.153.022.873.37
2.272.562.332.72
1.862.301.67
1.151 1.26
tdustriesng that c
82.2989. 5770.8763. 9955.84
97.90104. 12105. 06123. 3095.0461.46
104. 92109. 62106. 91104. 00
116.29108. 781 16. 40121.32
98.06106. 5591.03
110.70
72. 3792.6963.84
68.6389.50
45. 2050.17
2.322.252.482.42
L 951.902.332.893.17
2.492.612.342.782.852.742.371.92
2.112.052.191.861.621.602.32
2.742. 553.003.152.371.67
2.612.703.092.503.163.032.913.37
2.272.582.342.72
1.872.301.68
1.151.27
not sho\)vertime
83. 5690.2574.0765.1256. 64
100. 39104. 67108. 00126. 2497.0363.29
108. 09114.24115.18103. 75
119. 13110.23121. 72124. 02
99.41109. 3092.12
110. 98
73.5194.1964.90
68.8289.57
44.7550.42
2.322.252.492.42
2.771.971.912.352,903.19
2 492.622.352.782.852.742.381.92
2.112.042.181.881.621.602.34
2.742.593.023.182.391.67
2.632.723.132.503.163.022.943.37
2.282.592.352.72
1.882.321.69
1.131.27
vrn separ?hours ar
84.1690.2571.0564.6458.16
100. 58104. 39107. 90126. 4298.9063.58
110.24114.40119. 32106. 93
119.76110.23122.60125. 06
98.47108. 4293.46
112.34
74.0794.4265.57
69. 5690.05
44.8849. 66
2.332.262.492.42
2.781.981.902.352.923.21
2. 502.622.362.792.852.762.391.90
2.122.052.181.861.621.622.35
2.742. 603.013.172. 431.66
2. 652 753.142.543.163.022. 943.38
2.292.602.362.74
1.882.321.69
1.101.27
tely.? paid at
83. 5888.6068.1766.0259.86
101.05105. 33107. 49122. 5997.8562.79
108. 09113.02113. 83104. 67
122. 05111.74127. 15126.45
99.16111.1993.62
112.07
73.8893.7965.23
69.1990.34
45. 2148.76
2.31
2! 482.41
2.781.971.912. 362.913.19
2.492.612.352.812.872.782.391.89
2.102.032.141.701.631.642.35
2.752.592.993.152.411.67
2.632 733.112.513.173.022.953.39
2 292. 612.372.74
1.882.311.69
1.101.26
the rate
' 83. 74' 89. 44' 67. 39' 66. 09
56.93
'102.15r!06. 37'•107. 53126. 88' 98. 74'61.83
109 06'114.68'114. 19'106.08
'120. 43'109. 85'121.80'126. 25
' 98. 67'111.14' 97. 53114.26
' 73. 72'94. 77' 64. 60
' 60. 37r 90. 26
" 45. 3149.15
2.332.25
' 2. 502. 41
' 2. 792. 021.93
r 2. 36
'2.943 21
' 2. 482.632. 352.812.842. 802. 391.91
' 2. 122. 05
'2.15'1.62
1.641.6.52.37
2.772.61
' 3. 053.212. 421.70
2. 660 753.122. 553.223.063. 003.44
2.302.642. 422.78
1.90r 2. 34
1.70
'1.151.27
of time i
' 84. 56' 89. 62r 68. 85' 67. 08r 59. 79
102.15'105. 71'108. 32'•125. 33'97.61r 62. 59
111.87118. 86118.11107.95
1 22. 94112.98127. 08127. 60
98. 24111.0995 99
114.67
73. 3494. 6064. 64
70. 1290. 69
47. 0849. 79
' 2. 342. 262. 512.43
r 2.80T 2. 00
1.932. 37
r 2. 963 26
' 2. 502.642.362.832.882 89
2.39'1.91
' 2. 132. 06
'2.17' 1 . 70'1.61r1.67
2 37r 2. 76'2.61r 3. ()'2
3. 172.41
'1.71
2.672 813.102.543.213.072.993. 43
2.292.622. 412.79
1.909 gy
L71
1.18! 1 28
ind one-1
p 85. 1 7p 90. 45p 70. 49p 68. 48p 59. 26
»102. 82pl06. 37plOS. 32P126.96P9Q.14p 64.50
p 2.36p 2. 28p 2. 54P 2. 45
P 2. 81p 1.99p 1.94p 2.37P 2.97
p 2. 51p 2.64p 2. 37p 2.90
p 2.40p 1.92
p 2.14P 2.07p 2.19P 1.85P J . 65p 1.66P 2. 38
P 2.77p 2. 61p 3.03
p 2.43
"",""
=
ialf.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-16 SUEVEY OF CTJKRENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
EMPLOYMENT AND POPULATION—Continued
HOURS AND EARNINGS— Continued
Miscellaneous wage data:Construction wages (ENR):
Common labor $ per hr__Skilled labor doEquipment operators _ do
Farm wages, without board or room, 1st ofmo $ per hr
Railroad wages (average class I) doRoad-building wages, common labor (qtrly.)
$ per hrLABOR CONDITIONS
Labor turnover in manufacturing estab.:fAccession rate total mo rate per 100 employees
New hires doSeparation rate, total do
Quit do
Industrial disputes (strikes and lockouts) :Beginning in month:
Work stoppages numberWorkers involved . _. thous__
In effect during month:Work stoppages numberWorkers involved thousMan-days idle during month do
EMPLOYMENT SERVICE AND UNEMPLOY-MENT INSURANCE
Nonfarm placements thousUnemployment insurance programs:
Insured unemployment, all programs doState programs:
Initial claims doInsured unemployment, weekly avg___do
Percent of covered employment:^UnadjustedSeasonally adjusted
Beneficiaries weekly average thousBenefits paid mil. $
Federal employees, insured unemploymentthous. _
Veterans' program (UCX):Initial claims doInsured unemployment, weekly avg_._doBeneficiaries weekly average doBenefits paid - mil. $ _
Railroad program:Applications thousInsured unemployment, weekly avg-.-doBenefits paid mil. $
2.5663.8613.489
1 952.550
*2 09
4.22.64. 11 52 0
309157
6,000
508
1,856
1,2181, 682
4.4
1,475185.4
32
275350
6.6
2°77
18.7
2.6994.0313.651
i 972.616
*2 09
3.82.24.31 32 4
278110
1,600
485
2,067
1,4341,906
4.8
1, 640227. 2
33
295452
7.0
3172
13.1
2.7394.0903.718
.902.650
2 21
3.52.14.71.32.8
258106
432146
1,500
517
1,839
1.3931,678
4.25.7
1,395189.9
30
295045
5.9
2082
15.2
2.7454.0953.727
2.646
2.91.54.5.9
3 1
19253
36885
732
430
2,225
1,7442,039
5.16.3
1,603231.1
33
335952
7.0
2395
10. 0
2.7474.0993.728
2.655
2.31.04.8.7
3.6
11028
25053
458
378
2,847
2,1752,639
6.66.4
2,069300. 2
35
367164
8.6
21103
18.8
2.7654.1183.736
1.082.656
2 03
3.71.54.7.9
3.2
17080
300100700
365
3, 515
2,3813,266
8.16.1
2,722397.6
40
398681
11.0
38123
2.7654.1193.747
2.703
3.21.43.9.8
2.6
210120
330150940
342
3,638
1,9193,394
8.46.3
2,984399.3
41
339189
11.0
13113
19.7
2.7654.1203.747
2.641
4.01.63.9.9
2.3
22055
35075
610
417
3,403
1,7093,168
7.86.3
2,899461.5
40
359180
11.6
10106
22.3
2.7754.1333.760
1.042.687
1.96
4.01.83.41.01.9
32094
460126
1,180
4402 3, 006
1,4682,779
6.85.9
2,664362.5
36
298395
12.0
6107
16.3
2.8154.1633.791
2.652
4.22.13.51.11.8
430120
620165
1,530
5202 2, 532
1,3682,328
5.75.6
2,138320.1
33
267171
10.2
6100
20.5
2.8364.1973.822
2.666
5.02.93.61.21.7
330140
570211
1,760
5512 2, 165
1,2291,991
4.95.3
1,880264.4
31
266166
9.0
983
17.6
2.8514.2153.845
1.042.684
2.17
4.42.54.11 22 3
33095
560183
1,690
5012 2, 133
1,5011,958
4.85.3
1 , 665224.0
32
296056
7.3
10083
12.7
2.8604.2233.862
2.654
5.33.14.11 71 7
32595
550160
1,320
6032 1, 905
1,2481,744
4.35.2
1, 589237.2
31
305857
8.2
26r 74
16.2
2.8624.2373.875
2.602
P4. 6P 2 . 9P4 .8P2 1v 1 9
310334
530390
3,150
6072 1,715
1,0811,558
3.85.1
1,374185,0
28
255253
6.9
19
13.6
2.8714. 2453.884
.93
300223
510277
2,380
5962 1, 651
1,2191,502
3.75.1
1,283180.9
28
244746
6.3
74
2.8774.2533.906
2 1,816
1,662
4. 15.1
29
47
77
FINANCE
BANKING
Open market paper outstanding, end of mo.:
Co miner cial and finance co paper totalj doI5 laced through dealers t doPlaced directly (finance paper) do
Agricultural loans and discounts outstanding ofagencies supervised by the Farm Credit Adin. :
Total _ -- --mil. $ _Farm mortgage loans:
Federal land banks. __doLoans to cooperatives doOther loans and discounts do
Bank debits:Unadjusted:
Total (344 centers) - - - bil. $New York City do6 other leading centers^ do
Seasonally adjusted:*New York City do6 other leading centers? do337 other centers do
Federal Reserve banks, condition, end of mo.:Assets total 9 - - mil $
Reserve bank credit outstanding, total 9 -doDiscounts and advances doU.S. Government securities do
Gold certificate reserves do
Liabilities total 9 do
Deposits, total 9 - --- --doMember-bank reserve balances do
Federal Reserve notes in circulation do
Ratio of gold certificate reserves to deposit andFR note liabilities combined percent- _
3 1 1513 3 168
3 6773 2, 491
3 4, 449
3 2, 3603 622
3 1 467
223. 2685.3045 44
3 54, 028
3 28, 7713 458
326,6483 19, 1643 54, 028
3 19, 716318,174328,262
339.9
3 2 0273 4 4183 1,3583 3, 060
3 4, 7953 2, 564
3 6493 1 582
236. 5691.9048 13
3 52, 984
329,359333
327,3843 17, 4793 52, 984
3 18, 3363 17, 081328,450
337.4
1 7535 1841,4933,691
4,837
2,538638
1 660
233. 1389.9047 57
91.8748.0895 42
52, 183
28, 729193
27, 40218, 107
52, 183
19, 12017, 95627, 680
38.7
1 8685,2221 , 5053,717
4,787
2,548652
1,587
235. 1091.0247 58
98.7949.0298.31
51, 962
28, 731101
27, 48817, 610
51, 962
17, 92416, 77028, 066
38.3
2 0274,4181, 3583,060
4,795
2,564649
1,582
256. 90101. 5552.31
88.3847.8794.69
52, 984
29, 35933
27, 38417, 479
52, 984
18, 33617, 08128, 450
37.4
2, 0295,0101, 4653,545
4, 851
2,581675
1,595
257. 71104. 4752.38
97.5251.0597.50
50, 235
27, 56060
26, 57017, 140
50, 235
17, 26816, 06627, 700
38.1
2,0494,9681,4793,489
4,936
2,605683
1,648
222. 7289.8344.86
98.2750.2097.72
50,438
27, 86653
26, 66717, 075
50, 438
17, 35516, 27727, 548
38.0
2,2314,9921, 5253,467
5,023
2,640665
1,718
265. 44110.4653.35
101. 4549.4898.45
50, 188
28,060115
26, 68817, 099
50, 188
17, 54616, 15827, 520
37.9
2,2545,0011,5323,469
5,110
2,669650
1,790
240. 97101.1548.53
103. 4551.2897.33
50, 549
27, 95067
26, 77217, 089
50, 549
17, 56216, 41927, 415
38.0
2,2034,8481,4783,370
5,174
2,701613
1,859
268. 80111.4653.78
113. 3453.18
102. 85
49, 811
27, 806111
26, 88717, 095
49, 811
16, 96616, 10727, 564
38.4
2,2714,8511,4603,391
5,242
2,728595
1,920
271. 83113. 2354.28
103. 8352.29
101. 55
50,678
28, 49636
27, 25317, 256
50, 678
17, 69416, 71627, 778
37.9
2,3014, 9041,5343,370
5,310
2,746617
1,947
247. 67100. 5949.08
104. 5450.74
100. 72
50, 782
28, 62859
27, 42217, 223
50, 782
17, 80016, 85627, 906
37.7
2, 4004, 8621,6173,245
5,347
2,767646
1,935
'255.54100.8651.44
109.0552.15
r 102. 38
51, 059
28, 83547
27, 69717, 187
51, 059
17, 72416, 62028, 034
37.6
2.4224,7891, 7303, 059
5,352
2,784645
1,922
'246. 58100. 2948.99
109. 7851.33
100. 21
51, 696
29, 21328
27, 79917, 099
51, 696
18,03817, 10528, 100
37.1
2 4915, 0351,8183,217
5, 313
2,800679
1,834
275. 12113. 7354.68
113. 52"53. 98
"103. 97
52,087
'29,54859
28, 26817, 028
52, 087
18, 19416,88828, 229
36. 7
52,933
30,65fl39
29,21046, 710
52, 933
18, 13617, 20028.. 814
35.6r Revised. » Preliminary. 1 Quarterly average.2 Excludes persons under Temporary Extended Compensation program and under
extended duration provisions (thous.): 1961—Apr., 580 and 40, respectively; May, 747; 11;June, 703; 9; [July, 542; 3; Aug., 450; 2; Sept., 403; 3; Oct., 365; 2; Nov., 355; 1. 3 End ofyear.
fSee corresponding note, bottom p. S-13.
cf Insured unemployment as % of average covered employment in a 12-month periodending 6 to 8 months prior to month of reference.
tRevisions for Aug. 1959-July 1960 are available upon request.^Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.*New series. For data prior to Aug. 1960, see Federal Reserve Bulletins.9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
IK* 1901 SURVEY OF CURRENT BUSINESS S-17
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
End of year
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Atig. Sept. Oct. N'ov.
FINANCE-Continued
BANKING— Continued
All member banks of Federal Reserve System,averages of daily figures:
Excess reserves mil. $Borrowings from Federal Reserve banks doFree reserves do
Weekly reporting member banks of Federal ReserveSystem, condition, Wed. nearest end of yearor month :f
Deposits:Demand adjusted cT mil $
Demand total 9 doIndividuals, partnerships, and corp doStates and political subdivisions doU S Government doDomestic commercial banks do
Time, total 9 _ _ _ _ _ _ _ _ d oIndividuals, partnerships, and corp.:
Savings _ doOther time do
Loans (adjusted), totalcf doCommercial and industrial doFor purchasing or carrying securities doTo nonbank financial institutions doReal estate loans _ _ _ _ _ _ _ d oOther loans do
Investments total doU.S. Government obligations, total do_ __
Notes and bonds doOther securities _ _ _ _ do_
Money and interest rates :§Bank rates 011 business loans:
In 19 cities percentNew York City do7 other northern and eastern cities do11 southern and western cities do
Discount rate, end of year or month (N.Y.F.R.Bank) _ .percent
Federal intermediate credit bank loans doFederal land bank loans _ _ _ __do_ _
Open market rates, New York City:Bankers' acceptances (prime 90 days) doCommercial paper (prime, 4-6 months) doFinance Co. paper placed directly, 3-6 months
percent-Stock Exchange call loans, going rate do
Yield on U.S. Government securities (taxable):3-month bills (rate on new issue) percent—3-5 vcar issues do
Savings deposits, balance to credit of depositors:New York State savings banks, end of year
or month mil $U.S. postal savings ^ _ _ _do
CONSUMER CREDIT(Short- and Intermediate- term)
Total outstanding, end of year or month mil $
Installment credit, total do
Automobile paper doOther consumer sroods paper doRepair and modernization loans doPersonal loans do
By type of holder:Financial institutions, total do
Commercial banks doSales finance companies doCredit unions doConsumer finance companies doOther . do
Retail outlets, totaL . _ _ _ do _„Department stores doFurniture stores doAutomobile dealers doOther do
Non installment credit, total do __
Single-payment loans total doCommercial banks doOther financial institutions do
Charge accounts, total doDepartment stores doOther retail outlets doCredit cards do
Service credit _do _ _ _
14821906
i —424
92 330
4,8663,163
32, 507
68, 87430, 6653,932
12, 975
37 81727, 85624 4949,961
3 5 003 4 833 5 023 5 23
4.004 4. 644 5. 50
4 3 '•'4 3. < » 7
4 3. >24 4. v-j
4 3. 405* 4 33
20, 651918
52, 119
39, .852
16, 54910 4762,784
10, 043
34,17615 22710 1453, 2803 7741,750
5,6762,2921,225
4811 678
12, 267
4 1443,582
562
5,104958
3, 753393
3.019
i 769187
i 682
93 215
4,7473,979
35, 386
71, 00932, 156
3,945
12, 824
40 75430, 54724 94410, 207
3 5 203 4 973 5 153 5 45
3 00<5.054 6 00
> 3 514 3 854 3. 544 4. 99
4 2. 9284 3 99
21, 400770
56, 049
43 281
17,86611 2153,008
11,192
37, 50216 39811 1343,9064 2121,852
5, 7792,4011 189
5131 676
12, 768
4 3113,737
574
5, 187941
3,801445
3.270
638149489
90 573
4,9984,445
34, 710
69, 64031, 8613,571
12, 840
39 50429, 68724 1509 817
3 004.436 00
3 003 30
3.114.50
2.4263 61
21,051788
54, 344
42, 591
1 7, 99210 6253,013
10, 961
37, 33016 40811 1473,8334 0971,845
5,2612,1031 130
5181 510
11, 753
4 2723 692
580
4,370661
3,266443
3.111
756142614
90, 121
4,9143,537
34, 702
69, 27831, 9723,150
12, 844
39 39029, 69024 8269 700
3 004.346.00
3 003 28
2.914.50
2.3843 68
21,135779
54, 626
42, 703
17,96710 7153, 020
11,001
37, 36816 40211 1413,8704 1071,848
5,3352, 1551 140
5171 523
11,923
4 3013,711
590
4,463709
3,326428
3.159
76987
682
93, 215
4,7473,979
35, 386
71, 00932, 1563,945
12, 824
40, 75430, 54724 94410, 207
4 994 774 975 33
3.004.216.00
2 923 23
2.974.50
2.2723.51
21, 400770
56, 049
43, 281
17, 86611,2153, 008
11, 192
37, 50216, 39811 1343,9064,2121,852
5,7792,4011 189
5131 676
12, 768
4 3113 737
574
5,187941
3,801445
3.270
74549
696
89 690
5,1383, 105
36, 610
69, 62631, 2943,568
12, 787
41, 36131, 08624 99410, 275
3 004.055.76
2 862 98
2.784.50
2.3023 53
21, 438760
55, 021
42, 782
17,61111 050
2, 96711,154
38, 18617 26111 0303,8604 1791, 856
4,5961,3421 151
5041 599
12, 239
4 3143 740
574
4, 599805
3 346448
3.326
654137517
89, 860
5,0653,838
36, 928
69, 78731, 5313,519
12, 766
41, 18730, 63525 86310, 552
3 004.045.75
2 783 03
2.654.50
2.4083 54
21 500749
54, 102
42, 264
1 7, 38310 793
2, 93511,153
37, 79017 00110 9143 8634 1511,861
4,4741,3481 121
4971 508
11,838
4 3813' 789
592
4,037669
2 926442
3.420
54670
476
86, 044
4,8362,865
37, 498
69, 63832, 2033, 104
12, 727
40, 37729, 51925 57810 858
4 974 754 965 29
3.003.995.74
2 943 03
2.764.50
2.4203 43
21, 720739
53, 906
42, 058
1 7, 26510 679
2, 92211,192
37, 54216 86010 7873, 8974 1311,867
4,5161,4421 092
4911 491
11,848
4 4173 793
624
4 004637
2 926441
3.427
61856
562
62, 550
88, 22963. 869
5,5722, 854
11,090
38, 538
27, 9025,699
70, 15331,9053,8834, 960
12, 77019, 456
41, 45330, 59025, 45210, 863
3.003.995.60
2 842.91
2. 584.50
2.3273.39
21,610720
53, 972
41, 988
17,20010, 5852,922
11,281
37, 43416, 77610 7333,9374 1331,855
4, 5541,5271,077
4881,462
11, 984
4 4023,842
560
4,096631
3 035430
3.486
54996
453
62, 120
88, 05664, 168
5,4902,982
10 805
39, 191
28, 2025,939
69, 91331, 4603,8735,057
12,85519, 527
42, 23431, 39725, 64410, 837
3.004.005.60
2 682.76
2.504.50
2.2883 28
21, 652711
54, 390
42, 127
17,24210, 6022,943
11, 340
37, 4621 6, 77610 6963,9914,1331,866
4,6651,6341,071
4881,472
12, 263
4 5243,904
620
4 274634
3 210430
3.465
61263
549
62, 156
88, 25563, 7504,9323,834
10, 925
39, 712
28, 6276,102
70, 17131, 7693,8885,025
12, 89619, 389
42, 93531, 97625, 66710, 959
4 974 754 955 31
3.004.005.60
2 752 91
2.664.50
2.3593 70
21,845700
54, 786
42, 441
17,35810, 666
2, 95811, 459
37, 66316,80410 768
4,0744, 1511,866
4,7781,7321,076
4901 480
12, 345
4 5473 970
577
4 349624
3 286439
3.449
58151
530
62, 381
89, 42764, 0445,1074,086
11, 201
40, 304
28, 8626,389
70, 07231, 4994,1005, 066
12, 95619, 606
44, 85133, 79026, 37811, 061
3.003.995 60
2 752 72
2.504.50
2.2683 69
21,832691
54,687
42, 457
17, 35810, 6362, 964
11, 499
37, 63816, 75710 7504,1104 1651,856
4,8191,7941,067
4901,468
12, 230
4 5233 982
541
4,272574
3 240458
3.435
60467
537
61,855
86, 37962, 9354,8473,568
10, 586
40, 660
29, 0306,415
69, 55131, 4763,6155,044
13, 05519, 408
44, 75033, 46426,31111,286
3.003.975.60
2 812.92
2.644.50
2.4023.80
21,857681
54 889
42 636
17 35010 689
2, 99511, 609
37 73016 75510 7304' 1714 1931,881
4,9061,8801 076
4881 462
12, 253
4 5563 958
598
4 288589
3 211488
3.409
59037
553
62, 166
90, 35464, 480
4, 6935, 533
11,022
41,007
29, 2446, 512
' 70, 9892-31,794
4, 066' 5, 487
r 13, 136* 19, 669
46, 11434,41426, 14911, 700
4 994.755 055. 26
3.003.985.60
2 843 05
2.684. 50
2.3043 77
22, 048673
54, 869
42, 554
17, 17910, 7063, 008
11,661
37, 56216, 60410, 6904, 1944, 1811,893
4,9921, 9741,084
4821,452
12,315
4,6143,986
628
4,303623
3,195485
3. 398
r50665
'441
63, 423
92, 65866, 407
5,0274,071
12, 008
41,209
29, 6216, 406
71,84332, 085
4, 5355, 358
13, 24519, 622
45, 62434, 08726, 83311,537
3.003. 985. 60
2, 753.00
2.794.50
' 2. 3503.64
21, 982666
55, 051
42, 714
17, 18610, 8053, 008
11,715
37, 57716, 57210, 6714,2284, 2161, 890
5, 1372, 0921,090
4821,473
12, 337
4 5663, 982
584
4, 395656
3 259480
3. 376
6011054%
63,906
91,21666, 1834,8943,414
11,820
41,188
29, 7716,181
71, 67832, 1314, 0045, 375
13, 34719, 684
45, 64933, 93226, 88811,717
3.00
22,066658
r Revised. » Preliminary. 1 Average for Dec. 2 Effective Sept. 1961, data forseveral categories have been revised to reflect reclassification of loans; this change reducedcommercial and industrial loans in Sept. by a net of $146 mil. 3 Quarterly average.
4 Monthly average. f Revised to reflect new coverage and revised classification ofdeposits (for details, see the June and July 1961 issues of Federal Reserve Bulletin}.
d"For demand deposits, the term "adjusted" denotes demand deposits other than do-
mestic commercial interbank and U.S. Government, less cash items in process of collection;for loans, exclusive of loans to domestic commercial banks and after deduction of valuationreserves (individual loan items are shown gross; i.e., before deduction of valuation reserves).
9 Includes data not shown separately. §For bond yields, see p. S-20.IData are as of end of consecutive 4-week periods ending in month indicated, except
June figure which is as of June 30 (end of fiscal year).Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-18 SURVEY OF CURRENT BUSINESS December IJtfil
. .
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthly
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. [ Nov.
FINANCE—Continued
CONSUMER CREDIT— Continued
Installment credit extended and repaid:Unadjusted:
Extended total mil $Automobile paper do _Other consumer goods paper doAll other do
Repaid, total _ do __Automobile paper doOther consumer goods paper doAll other do
Adjusted:Extended, total do
Automobile paper doOther consumer goods paper doAll other do
Repaid total doAutomobile paper doOther consumer goods paiMT doAll other do
FEDERAL GOVERNMENT FINANCE
Net cash transactions with the publicrcf*Receipts from mil $Payment? to doExcess of receipts, or payments ( • — ) . _ doSeasonally adjusted quarterly totals:
Receipts doPayments doExcess of receipts or payments (~) do
Bud cot receipts and expenditures:Receipts total do
Receipts, net^__ _ _ doCustoms doIndividual income taxes doCVrpoi ation income taxes doEmployment taxes doOth'T internal revenue and receipt1^ do
Exiioiulit'ircs, total1! doIntnv t on public debt do.__\VtoninV services and benefits do-V' . i jo r national security do\I1 other expenditures do
Public d« 'bt and eruaranteed obligations:dro^s debt (direct), end of mo., total hil. $._
ii^en L"t bearing, total dopublic issues do
l T » * l d bv U S Oovt investpient 'iC'H^ doSpecial issues do
Xoninterest bearine _ _ _ _ _ _ d oGuaranteed obligations not owned by U.S. Treas-
uarv, end of month _ bii $_"T.S. savings bonds:
A m o u n t outs tanding end of month do
Redemptions do
LIFE INSURANCE
Inst i tu te of Life Insurance:Assets, total, all U.S. life insurance companies
bil $Bonds (book value), domestic and foreign,
total. _ _ _ _ _ _ _ b i l $U S Government doState, county, municipal (U.S.)- do_ _Public utility (U S ) doRailroad (U S ) doIndustrial and miscellaneous (U S ) do
Stocks (book value), domestic and foreign, totalbil $
Preferred ( U S ) c oCommon ( U S ) ( o
IMoi't^ace loans total do\onfarm do
TXC ;l os1 ate doPolicy loans and nreuiium notes dor-'Fh doOt l > o i assets < o
Life insurance Agency Management Association:Insurance written (new paid-for insurance) :
Value, estimated total in 1. $_.Group and wholesale doIndustrial doOrdinary do
Institute of Life Insurance:Payments to policyholders and beneficiaries in
' U.S., total mi l .$__Death benefits doMatured endowments doDisability payments doAnnuity payments doSurrender values doPolicy dividends do __
4,0871,4951, 1531,4393,6171,3081 0261,284
7 2967,963-667
7 4706. 062
89•} 56Q] f',87
7771 3*8
6 048699424
3. 8581 712
290. 801 287. 701 244. 20i K\ ]()14:10!
1 3. 09
1. 13
i 48. 653673
i 1 13 65
i 56. 69! 6 87i 3. 20
i 15 731 3. 74
1 23. 98
! 4 56i 1 GO1 2. 90
1 39 '?(1 36. 37
1 3 651 4. 621 1.311 3 63
| 5, 9251.092
5794 262
627. 6259. 1
9.9
54 7124 5126. 8
4 1951, 4871 1851,523
3,9091,3771 1941,409
8 1917,891
299
8 3336, 626
91
3 8381 8911,0081 506
6. 464773429
3, 8081 510
1 290. 22286. 82242. 47i 10 64' 44! 35
:i 3. 40
M6
; 47. 5336
. 56
1 119 58
1 58. 561 6 431 3. 59
1 15 951 3. 64
1 25. 45
1 4 98j 1 791 3 12
1 41 771 38. 79
1 3 76i 5. 231 J .331 3 94
6, 2011,279
5734 349
676. 5278. 8
56 110. 360 2
136 1135.0
4,0121,4071,2071,3983,9381,4361 1251,377
4 JOS1,4601. 1651,4833,9941,4171 J471,430
3,6517, 879
-4,228
3 6412, 823
921 296
481389
1 3836, 829
748422
3, 7281 934
290. 49287.37243. 10
10 6744. 283. 12
.16
47. 60.35.41
118 54
58. 406 523. 58
15 883.75
25. 00
3. 941 872.02
41 3138. 363 835.181.274.61
6, 2301,289
5874 354
626.1258.4
52 810 358 8
132 9112.9
4,0671, 3641,2171,486
3,9551,3891,1271,439
4,1341,4821,1591, 4933,9461,3971,1191,430
8,4038,674-271
7,9006, 300
914 648
4551, 2951,411
6, 773734436
3, 8841, 727
290. 41287. 14242. 58
10 7544. 563.28
.15
47. 63.33.40
119 07
58 626. 553.60
15 923. 75
25. 11
3 981 882. 05
41.5238. 553 855. 221.234 64
6.8291,711
5504 568
660. 7283. 157.510. 159 3
135 0! 115.7
4,6411, 2481,6541, 7394,0631,3491, 1541,560
4,0071,3251,2001, 4823,9311,3561J561,419
8,5867,984
603
24, 80024 200
600
8 7517, 643
802 9743 331
5961 7706,847
76543«
4,2171 638
290. 22286. 82242. 47
10 6144! 353. 40
.10
47. 53
.58
119 7°
58. 686 443. 62
15 943. 73
25.22
4 051 902. 10
41 8038.803 805. 271.334 78
7, 2551,870
4804 905
853. 7295. 7
58 411 556 1
147 2284.8
3 4731, 1301 0121,3313,9721,3851 1771,410
3,8691,2391, 1851,4453,9721, 3871,1541,431
5,5867,275
-1,689
5 5374, 846
823 198
534348
1 3756,470
4443, 6931 612
290. 04286. 65242. 83
10 6643. 823.38
.16
47.554656
I0*) 47
59. 096 543. 67
15 973.71
25.42
4 101 912. 13
42 0139. 023 815. 301.284 88
5, ] 871, 157
5013 529
711.2304.2
62 911.981 2
138 5112.5
3 2411,051
8881,3023,7591,2791 1451,335
3,8031,1901, 1311,4824,0111,3631,1911,457
8,9167,8671,049
9 1536, 537
705 567
4441,8141 2586, 236
719431
3, 7781,344
290. 54287. 19243. 46
10 6843^733.35
.20
47. 6242
.45
1°0 95
59. 246 543.70
15 983.71
25. 48
4 151 942. 16
42 1439. 15
3 825.341.274.98
5, 458944544
3 970
683. 2•?92 2
56. 510.2
61 9139 8122. 6
3 9951,3301,1251,540
4,2011,4481 2391,514
4,0021,2881,2121,502
3,9541,3531,1631,438
10, 2568,2601,996
22 50024 900
—2, 300
11 8788,524
88
3 1715 7991 3481 472
7,012726480
4,2791 5'>8
287. 47284, 06240. 06
10 7944.003.41
.21
47. 6743
.49
121 47
59. 366 543. 74
15 963.72
25. 56
4 241 942 23
4'> 3539. 35
3 825.411.225 07
9, 0123. 656
6344 722
796.7325. 2
64. 111. 5
65 6165 6164. 7
3, 7651,2471,0531,465
3, 8351,3121, 1471,376
3, 8831, 2431, 1451,495
4,0221, 3881, 1861.448
6, 2958, 292
-1,997 |
i
7 3595, 125
73
4 319493736
1 738
6, 450
4433, 7541. 532
287. 99284. 03241.62
10 8643. 013. 36
.22
47. 6835
.43
121 92
59. 546. 493.77
15 983.71
25. 67
4. 251 962.23
42 5539. 52
3 835.461.235 06
! 6, 2971.250
5924 455
681.7272. 6
56 410.8
61 0154 0126.9
4,2801,4611.2191,600
4J411,4191,2021,520
4,0011,3151J581,5283,9741,3651, 1481 . 461
9,7319, 462
269
9 7676,467
85
5 699411
2 0201 551
7, 1 69717441
4, 1 441 874
290. 15286. 84242. 34
10 9344. 503.30
.23
47.713744
122 46
59. 74
3.7715 993. 70
25. 76
4 3-12 022. 25
42 7239. 673 845. 511.305 02
6, 5951. 154
677i 4 764
741.6316.860. 611. 162 9
161 4128. 8
4,4021,5251,2141, 6634,0881,4091,1501,529
4,1161, 3471,1901,5794.0161,3861,1371,493
12, 3679, 4462,921
24, 90026 600
— 1, 700
» 12, 642*> 10, 749
^84p 4 3^7p 5 246»1 173P ] 752P 7, 948
p 763P 446
p 4, 568^ 2 411
288. 97285. 67240. 63
10 9645. 043.30
47. 7537
.46
I'?2 86
59. 866 40'-' 78
16 033.69
25. 97
4 342 042 24
42 9039 833 865. 551.275 07
6. 2551. 141
6284 486
739. 2307. 5
59 211.763 8
149 7147.3
3.9761,3831,0951,4983,9601,3831,1251,452
3,9611,3011,1721,4884.0351,4031,1591,473
3 7937,902
-4,. 109
3 7792,982
911 480' 5^0306
1 3826, 322
765422
3 4531 742
292. 40289. 00244.80
10 9344. 20
3.41
.24
47.8134
.42
123. 38
60. 226. 443.79
16 053. 68
26 19
4 382 052. 26
43 0539. 963 875. 541.305 02
6, 1251,312
5894 224
653. 6261. 9
52. 99.9
65 7144.5118.7
4,3191,4121,2161, 6914,1401,4201, 1701.550
4,0811, 2971,1661,6184,0551,3841, 1521,519
9, 35710, 552-1, 195
8 7136, 367
984 814
389
1 8211 5977, 631
730471
4,0462 434
293. 71290. 66245. 09
10 8145. 573.06
. _,5
47.87.39.44
123 90
60. 446 443. 82
16 123.68
26. 30
4 422 062 28
43 2240 103 905.581 295 06
6, 3471,405
5854 357
728. 5313.7
56 411 463 1
1£1 5132. 4
3,8601.1781,2091,4733,9421,3491, 1851,408
4,0101,2391,1981,5734, 0851, 3741, 2301,481
r 10, 236'8,2661,970
25, 20026 100
—900
10 2858, 945
904 6793 251
8841 3806,771
72741<S
3, 8521, 777
293. 75290. 77245. 77
10 8145.012. 98
47. 8934
124 41
60. 596.393.85
16 143. 67
26. 45
4.472 072. 33
43 3840.253 925.621.305 14
5, 8661, 158
5784 130
673.4287.2
52 810.459 9
132 0131. 1
4.3291.4731,2911,5654, 1691, 4661,1921,511
4, 3361,4881,2211,6274,1521.4191,1991,534
3,8729,385
-5, 512
3. 81 13. 141
1051 614
408241
1. 4437. 796
713
* 4 . 0 < o]j 2 ;"S9
295. 66292.71248. 82
43. 892.95
.30
47.95.37.41
123 < -
6 4')3. K
16. 153 h7
26. 67
4 5211 OS2. 3s
13. 581M 44
3.95 fir,i .»35 I1-
6, 8481. 543
6144 691
723. 1286. 7
I 62. 311.6
65 7151 7145- I
297. 01293. 60249. 39
! 44. 22; 3. 41
i .31
48. 03.36
• .38
!
j
!
T Revised. p Preliminary. ! End of year.*New series (compiled by U.S. Treasury Dept. a
c? Other than borrowing,nd Bu. of the Budget).
for net receipts and total expenditures reflect exclusion of certain intcrfimd trans-
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 10(51 SURVEY OF CURRENT BUSINESS S-19
Unless otherwise stated, statistics through I960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 j 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FINANCE—Continued
LIFE INSURANCE— Continued
Life Insurance Association of America:Premium income (39 cos ) qtrly total mil $
Accident and. health doAnnuities doGroup doIndustrial doOrdinary do
MONETARY STATISTICS
Gold and silver:Gold:
Monetary stock, U.S. (end of year or month)mil. $_.
Net release from earmark § do_Exports thous. $Imports do
Production reported monthly total Q doAfrica doCanada doUnited States do
Silver:Exports. doImports doPrice at New York doi. per fine ozProduction:
Canada thous. fine oz'Mexico doUnited States do
Money supply (end of yr., mo., or last Wed.): _Currency in circulation bil $Deposits and currency, total _ _ do
Foreign banks deposits, net doU S. Government balances-. do
Deposits (adj.) and currency, total 1[ - do, __Demand deposits, adjusted*! doTime deposits, adjusted^ doCurrency outside banks do
Turnover of demand deposits except interbank andU.S. Govt., annual rates, seas, adjusted:
New York City ratio of debits to deposits .6 other centers cf do337 other reporting centers do
PROFITS AND DIVIDENDS (QTRLY.)
Mani 'Lietnrine corps. (Fed. Trade and SEC):Net profit after taxes all industries mil. $
Food and kindred products doTextile mill products doLumber and wood products (except furniture)
mil. $Parx r and allied products doCliemii ' j i ls and allied products doI Vtroh um refining doStone, clov, and glass products doT'r imarv nonferrous met;)] dorrimarv iron and steel doFabricated metal products (except ordnance,
ma chiner v, and transport cQuip ) mil $A l t K h i n o r v (except electrical) doEloc machinery, ecruip , and supplies doTransportation equipment (except motor
vehicles, etc.) mil. $Motor vehicles and paits . ._" _ _ . do .All other manufacturing industries do
Dividends r>nid (cash), all industries doElectric utilities, profits after taxes (Federal Re-
serve) mil $Transportation and communications (see pp. S-23
and S-24).
SECURITIES ISSUED
Securities and Exchange Commission:Estimated gross proceeds, total ..mil. $
By typo of security:Bon ds and notes, total _ - - - - - _ -do
Corporate doCommon stock doPreferred stock. ._ . , _do. ..
By type of issuer:Corporate , total© _ . .. do _ ..
M an u f act urin g d oExtractive (mining). __ ... _ . ...do. ..Public utility doRailroad _„ - . . do,. -Communication doFinancial and real estate. - do_ ...
Noncorporate, total© - ... do. -U.S. Government doState and municipal do
! 2, 812i 4941 318i 319' 219
1 1,462
219,456-110
16125, 365
88, 60063, 90013, 1004,800
8285,229.912
2, 6603, 6731,930
2 32 62 256. 0
23 .22 6 . 2
2 246. 62 115.42 101.8229 .4
56.43'? 524.5
i 4, 085i 313i 104
1 67i 155i 535i 656* 1711 1351 260
i 137i 308!301
i 71'418i 455
1 1,977
i 414
2,590
2, 376599169
44
81217313
2711460
154
1,7771,027
640
i 2, 9161 5571 274i 343i 201
i 1, 541
2 17, 767-165
13727, 919
391,6003 66, 600
13, 4004,000
2,1494,786
.914
2,8133,7103,345232 9
2 263. 223 .22 7. 1
2 252 92 115.12 108. 5
2 29 4
60. 034 825.7
1 3 8001 306
1 82
1 261 1471 5035 7191 1431 1231 236
1 1011 2461 256
1 56! 4191 435
1 2, 070
1 449
2. 295
2.12267313934
84617920
2381887
210
1,449659602
18, 402-397
270125, 558
92, 60067, 50014, 1004,400
1,7543,999
.914
2,8783, 5002,918
32. 1257.5
3.17.1
247.2112.2106.728.3
6Q.O34 925.5
1,814
1 . 66477810545
928196
9215
8256150
886345343
17, 910-512
17219, 556
392,0003 67, 50013, 7004,300
3,0933,039
.914
3, 0863, 5213, 405
32 6257. 0
3.16.5
247.3111.9106. 728.«7
63.535 826.2
1,986
1,85287511816
1,009283
14320
327
245
976326496
3.252613329348287
1, 675
17,767-145
1233,397
90, 70066, 40013, 8003,900
3,6674,638.914
3,4834,1174,111
32.9263.2
3.27.1
252.9115.1108.529.4
57.834 325.1
3,513309
70
214144183211795
150
55185239
35416426
2 302
452
1, 947
1,8167648645
895218
2218311
101249
1,052348490
17, 441-322
22, 4632,779
3 90, 90067, 90013, 2003,200
4, 6734, 105.914
2,5154, 2803,325
31 8259.2
3.14.5
251. 6114.7109.028.0
63.036 525.7
1, 774
1. 6454729930
601173
1514028
149
1,173455706
17, 3733
49, 1382,209
388.400366,70012, 6002,900
3,1883, 658.914
2,5243, 4603, 190
31 8259.5
3.16.9
249. 5110.6110.728.2
63. 735 825.7
5, 455
5, 28852913037
69510628
1631741
298
4, 7604, 069
660
2,942570271351169
1.580
17, 388161
140, 2843,091
3 70, 10013, 7003,700
4,6704,502.914
2,8763,5903, 285
31 9258.9
3.35.3
250. 2110.3111.928.0
67.135 426. 1
2. 90020230
— 4121421783
44104103
47191206
61254269
2, 008
523
2,161
2, 007542125
29
606286
1785239097
1.465434756
17,39092
89, 6731,704
13, 1003,200
4, 5034.580
.914
2,4243, 2503.974
31 8260.6
3.23.2
254. 2113.6112.727.9
68.036 925.6
3. 393
2, 2231,0011, 111
60
2, 231602
10278
10I 045
191
1,161348710
17, 403152
133, 0751,659
13,4003,300
1,8413, 363
.914
2,4734,0203,580
32 2261.7
1.15.9
254. 7110.6115.728.4
74.638 026.9
4, 432
4,1121.021
22892
1.34248134
4611498
118
3, 0912, 244
625
2, 934595247349160
1,585
17, 550254
98, 1181,857
12, 8003,800
7493,648
.914
2,9023, 5403,834
32.4265. 6
1.27.4
256. 9r 110.5' 117. 1
29.4
70.637 726.6
3, 96534060
43151566712165137
138309234
79429376
2 005
447
3, 494
3 2101 495
24440
1,77958511
40813
270243
1 715369
1,035
17, 527-3193
2,399
12, 6003,800
2,8323,552.914
2,3903. IfiO2,840
32 5267.2
1.36.7
259.1113.0117.728.4
70.636 726 2
. _ _ _
T 1,901r 1,642
'817r 239
r 20
' 1,075f 452
r33T 276
r 9' 16
T 218
' 896342463
17, 451-23
42,1189,246
12, 5003,800
9923,585.914
2, 223
2,891
32 6266. 4
1.36.5
258. 5111.5118.628. 5
73.438 126. 7
r 2, 064r 1,887
r 637r 131
r 45
'813f 288
r 15f 290
r 16' 13
r 133r I 250
392603
2,884600230339160
1,555
17, 3764
63, 0654,949
12, 1004,500
3,3972, 625
.914
2, 346
3,737
32 7271.0
1.48.9
260 8112.8119.528 5
74 237 326 3
3 837377
84
481^7
~2r
1831 06208
1 44'";68234
206o!7
2 010
447
1,913
1, 695460201
17
678268
15113
0
110
1 235338699
' 17, 300-43
70, 0514 009
2,5113 316.914
3, 523
32 8r 272. 5
1.3r O . 8
r 264. 4115.7120. 1
7»>. 1p ;jS 2v 26. 9
4 350
4 042794999
9
1,101331
11994
495
315
3 2482, 564
643
16,975
.923
273.01.26.6
265. 1116.2119. 929 1
r Revised. ? Preliminary. J Quarterly average. 2 End of year,s Excludes Republic of the Congo.§Or increase in earmarked gold (—).9 Includes data for the following countries not shown separately: Mexico; Brazil; Co-
lombia; Nicaragua; Australia; and India.
•fThe term "adjusted" denotes exclusion of interbank and U.S. Government deposits;for demand deposits, also exclusion of cash items reported as in process of collection.
cf Includes Boston, Philadelphia, Chicago, Detroit, San Francisco, and Los Angeles.©Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-20 SURVEY OF CURRENT BUSINESS 1901
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 | I960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FINANCE—Continued
SECURITIES ISSUED— Continued
Securities and Exchange Commission — ContinuedNew corporate security issues:
Estimated net proceeds, total mil $Proposed uses of proceeds:
New money total doPlant and equipment do\Vorking capital do
Retirement of securities _ doOther purposes do
State and municipal issues (Bond Buyer) :Long-term _ _ _ _ doShort-term do
SECURITY MARKETS
Brokers' Balances (N.Y.S.E. Members CarryingMargin Accounts)
Cash on hand and in banks mil $Customers' debit balances (net) _ doCustomers' free credit balances (net) doMonev borrowed ._ _ _ _ . do_
BondsPrices:
Average price of all listed bonds (N.Y.S.E.),total§ dollars--
Domestic doForeign _ do
Standard & Poor's Corporation:Industrial, utilitv, and railroad (A1+ issues):
Composite (21 bonds) cT_~dol. per $100 bond..Domestic municipal (15 bonds) _. do
U.S. Treasury bonds, taxable f doSales:
Total, excl. U.S. Government bonds (SEC):All registered exchanges:
Market value _ mil $Face value do
New York Stock Exchange:Market value ._ ._ doFace value _ do
New York Stock Exchange, exclusive of stoppedsales, face value, total § mil $
Domestic doForeign do
Value, issues listed on N.Y.S.E., end of month:Market value, total, all issues§ _ _ bil. $_
Domestic . doForeign do
Face value, total, all issues § doDomestic doForeign do
Yields:Domestic corporate (Moody's) percent..
By ratings:Aaa doAa _ doA doBaa __ do
By groups:
Public utility _ doRailroad do
Domestic municipal:Bond Buyer (20 bonds) doStandard & Poor's Corp. (15 bonds) do
U.S. Treasury bonds, taxable© - _ do .
Stocks
Cash dividend payments publicly reported:Total dividend payments . __ mil. $__
Finance doManufacturing doMining doPublic utilities:
Communications _ __ doElectric and gas do
Railroad _ _ _ doTrade - _ _ _ _ d o ._Miscellaneous do
Dividend rates and prices, common stocks(Mccdy's) :
Dividends per share, annual rate (200 stocks)dollars..
Industrial (125 stocks) doPublic utility (24 stocks) - doRailroad (25 stocks) doBank (15 stocks) ._ . do_Insurance (10 stocks) - _ _ d o ...
Price per share, end of mo. (200 stocks) 9 _ doIndustrial (125 stocks) doPublic utility (24 stocks) do _Railroad (25 stocks) _ - do. _.
' Revised. 1 End of year. 2 Annual total.§Data include bonds of the International Bank fo
shown separately; these bonds are included in conbonds.
794
715507208
1168
640348
i 3, 4301 996
i 2, 583
89.3689. 4583.27
95.0100.785.49
157. 66151.34
155. 34148. 59
132. 14126. 42
5.72
105. 67103. 00
1.57
118.28115. 16
1.92
4.65
4.384.514.675.05
4 534.704.73
3.583.954.07
213,012
2 1, 8982 6, 882
2 495
2 1, 0962 1, 500
2 3872 5502 204
5.415.812.613.423.824.29
163. 47186. 2666.3574.11
r Reeonsiputing
827
730472258
2375
602334
13901 1,' 135i 2, 275
91.4291.5681.81
94.6103.986.22
133. 92134. 52
131.65132. 28
112.20105. 88
6.33
108. 48105. 67
1.61
118.69115.44
1.97
4.73
4.414.564.775.19
4.594.694.92
3.513.734.01
2 13, 5752 2, 0482 7, 047
2 549
2 1, 1812 1, 588
2 3702 5812 212
5.596.032.683.533.974.75
155. 46173. 1869. 8262. 46
tractionthe aver
910
830627204
2060
343254
3773,2431,0632,300
92.8292.9981.48
96.0105.887.50
117. 72118. 67
115.82116. 62
99.3492.896.46
109. 86107. 00
1.61
118. 36115.07
1.98
4.63
4.304.444.675.11
4.504.564.84
3.423.593.91
921.5
175.6330.1
10.9
202.3113.120.057.811.7
5.586.042.693.473.964.85
149. 30164. 9170.2757.68
and Devage price
988
80546633932
152
496499
3803,2401, 0622,268
91.7091.8780.64
95.5107.787. 23
115.57122.20
113.60120.18
109. 30101.28
8.02
106. 29103. 47
1.60
115.91112.63
1.98
4.64
4.314.474. 695.08
4. 514.564.85
3.433.463.93
387.6
104.5136.0
2.9
2.1109.6
1.423.08.1
5.576.002.713.464.005.01
154. 57169. 9272.2460.39
elopmen3 of all 1
879
749496253
27103
490279
3903,3171, 1352,275
93.2193.3882.12
95.1107.987.84
142. 97152. 46
140. 64150.05
130.18122. 92
7.25
108. 26105. 42
1.60
116. 15112. 89
1.95
4.66
4.354.504.715.10
4.554. 584.87
3.383. 453.88
2, 456. 3
345.91, 476. 4
171.8
93.1186.679.763.339.5
5.646.012.743.444.095.08
161. 55175. 22
7fi. 8261. 28
t notisted
590
552359192
1028
706334
4133,3301, 2692,038
92. 9693.1082. 61
95.6108.187.70
151.32159. 28
148. 72156. 49
144.70138. 05
6.64
107. 98105. 13
1.60
116.16112. 92
1.94
4.65
4.324.484.695.10
4. 524.574.86
3.383.443.89
1, 003. 2
255. 2298.7
11.2
209.0114.634.668.111.8
5.646.012.743.414.205.08
171.83186. 0080. 4766. 00
tfaffect
11-O9
682
612304308
1456
660496
4533, 4261,3921,999
92. 5092. 6084.00
96.3109. 788.74
181.22171.06
174. 49167. 23
137. 64132.41
5.23
107. 59104. 72
1.62
116.31113.09
1.93
4.59
4.274.404.635.07
4.464. 514.82
3.333.333.81
468.1
161.2135. 8
2.9
1.7111.9
4.142.87.7
5.656.012.753.414.205.19
175.72190. 5682. 6668.37
Number:he contirices areFor boric[ncludes
679
48428919511877
756397
4273,6561,5071,997
93. 7193.8583.39
97.0108. 989.07
247. 68222. 73
237. 56217. 27
178.01170. 78
7.22
109. 94107.07
1.61
117.31114.09
1.93
4.54
4.224.334.575.02
4.404.434.78
3.513.383.78
1 ., 957. 2
162. 71, 262. 8
106.4
94.3188.356.853.632.3
5.656.012.773.354.205.19
179. 36193.5185.2069.24
of bondsnuity ofderived
Is due ordata not
2,203
2, 0551,780
2758563
710201
4333, 9861,5082, 351
93.8493.9883.38
96.3108. 088.80
184. 05163. 40
176. 00159. 35
138.04132. 00
6.04
110.32107. 47
1.60
117.57114.35
1.92
4.56
4.254.374.595.01
4. 454.464.75
3.483.443.80
914.1
179. 3312.4
11.7
208.7119.320.452.89.5
5.666.022.793.354.205.19
179. 65193.4285. 5467.00
represenseries,from avecallableshown s
1,314
1,090834256
55169
625382
4534, 1001, 4532,587
93.7293 8783.26
96.0109. 089.74
172.93167. 31
167. 66163. 10
140. 82134. 51
6.31
110.43107. 60
1.57
117.82114. 63
1.89
4.58
4.274.414.635.01
4.484.494.77
3.483.383.73
367.9
84.1133.7
4.3
2.1112.8
.922.37.7
5.666.032.793.354.205.19
183. 20197. 5688.5768.45
t numbe
rage yielin 10 yeaeparateb
1,744
1,127759368426191
1,035279
4224,076
'1,2802,815
92.7392.8782. 65
95.0106.887. 83
151. 26143.98
148. 00140. 97
118.28112.74
5.54
109. 30106. 50
1.56
117.87114.68
1.89
4.63
4.334.454.695.03
4.544.524.83
3.543.533.88
1, 986. 3
157. 71, 280. 9
109.0
95. 8190.263.459.030.3
5.666.012.803.354.205.19
179. 24193. 9085.8766.10
- current
ds on bars or mo?•
'1,049
'846'560'286'22
'182
463297
4434,0411,2072,798
92.7792.9282.27
94.5106.787.57
144. 16146. 55
141.64143. 95
131.56125. 80
5.76
109. 63106. 84
1.55
118. 17114. 98
1.88
4.70
4.414.534.755.09
4.594.604.89
3.493.533.90
935.7
188.0313.8
9.8
225.1118.416.955.28.5
5.676.022.813.354.205.19
185. 95200. 6488.0665.90
y used; t
=ds of an*e.
'793
'662'434'228'31
'100
603665
4364,0211,2082,734
92.4792.6182.58
93.9106.586.27
176.24162. 53
172.12158. 75
133.11127.84
5.27
108. 46105. 67
1.55
117.29114.10
1.88
4.73
4.454.574.805.11
4.614.674.92
3.543.554.00
372.9
85.3133.5
2.9
1.8114.8
4.123. 07.5
5.686.022.833.374.205.19
189. 30204. 0092.7369.15
he chang
assumed
658
6124022101136
699351
'4204,0371,2272,730
92.9793.1282.57
93.9106. 686.09
137. 47133. 89
134. 97131. 33
111.74106. 51
5.24
108. 00105. 20
1.55
116. 16112. 98
1.88
4.74
4.454.594.815.12
4.614.674.94
3.493.544.02
2, 008. 8
189.31,277.0
107.7
96.9191.257.959.829.0
5.686.022.833.374.215.19
187. 49201.5594.5068.78
e in the
3 percen
1,075
928612316
42105
'643'244
4294,0721,2142,710
93.1993.3283. 31
94. 6107. 786. 61
153. 52151. 77
150. 43148. 44
125. 57120. 08
4.88
109. 03106. 22
1.56
117.00113.82
1.88
4.73
4.424.564.795.13
4. fiO4.664.92
3.363.463.98
987.4
182.4350.0
16.9
235.4118.419.156.88.4
5.696.042.843.384.215.19
193. 10207. 2399.7771.01
number
t 20-yeai
753365
4.70
4.394.544.755.11
4.584.634.89
3.48
401.4
114.1135.0
3.5
2.4114.6
1.522.87.5
5.886.332.853.364.255.19
200. 36213. 75103. 9170.01
does not
bond.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-21
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FINANCE—Continued
SECURITY MARKETS— Continued
Stocks— Continued
Dividend yields and earnings, common stocks(Moody's):
Yield (200 stocks) _ _ percent--Industrial (125 stocks) doPublic utility (24 stocks) ___ _ do_ _Railroad (25 stocks) doBank (15 stocks) doInsurance (10 stocks) do
Earnings per share (at annual rate), qtrly.:Industrial (125 stocks) dollarsPublic utility (24 stocks) doRailroad (25 stocks) do
Dividend yields, preferred stocks, 14 high-grade(Standard & Poor's Corp ) percent
Prices:Dow- Jones averages (65 stocks)
Industrial (30 stocks)Public utility (15 stocks)Railroad (2C stocks) _ _ _
Standard & Poor's Corporation :cfIndustrial, public utility, and railroad:
Combined index (500 stocks) 1941-43=10
Industrial, total (425 stocks) 9 do __Capital goods (127 stocks) doConsumers' goods (193 stocks) do
Public utility (50 stocks) doRailroad (25 stocks) do
Banks:New York Citv (11 stocks) doOutside New York City (16 stocks) do
Fire insurance (15 stocks) _ do
Sales (Securities and Exchange Commission):Total on all registered exchanges:
Market value mil. $Shares sold millions
On New York Stock Exchange:Market value mil $Shares sold millions
Exclusive of odd lot and stopped sales(N Y Times) millions
Shares listed, N.Y. Stock Exchange, end of mo.:Market value, all listed shares bil $Number of shares listed millions--
3.313.123.944 633.712.70
19 8523.8216.01
4.69
212. 78632.1289.71
161.14
57.38
61.4563.9347.3544.1535.09
26.2852. 5133.17
4,322134
3, 62387
68
295. 405,421
3.603.483.845.653.912.92
1 9 6224.1214.80
4.75
204. 57618. 0491.39
138. 93
55.85
59.4359.7447.2146.8630.31
26.2353.0933.43
3,768116
3,16380
64
291.496,231
3.743 663 836.024.023 07
4.75
194. 49582. 4592.86
125. 80
53.73
56.9055.2545.6847.3427.77
25.4352. 3233.01
3,192101
2, 70070
54
281.536, 388
3.603.533.755.733.932.97
4.78
199. 54601.1494.14
128. 62
55.47
58.8957.4246.9647.8328.93
25.5853. 9133.75
3, 295105
2, 78572
62
292. 996,398
3.493 433.575 613.922.76
9 704 126.36
4.84
202. 81609. 5497.74
128. 29
56.80
60.2259.1147.9849.7829.03
26.6055. 3737.02
4,139136
3,48795
77
300. 976, 458
3.283.233.405.173.782.51
4.73
212. 98632. 20102. 79139. 44
59.72
63.2061.4648.9652.7331.43
27.7857.1238. 97
4,946163
4,176115
89
326. 006, 478
3.223 153.334.993.512.50
4.68
219. 89650.01107. 70143.12
62.17
65. 7163.7150.8555.6432.17
29.6059.4842.34
5, 275160
4,407112
93
337. 496, 501
3.153.113.254.843.512.50
8 004.170.22
4.66
225. 64670. 56110.00145. 47
64.12
67.8365.7753.2757.0632.93
30.5563.9442.95
7,281242
5, 930153
118
347. 586, 529
3.153.113.265.003.542.51
4.67
228. 42684. 90112.02142. 53
65. 83
69.6466.1254.3359. 0932.35
30.8564.9242.64
6, 533229
5, 2C5132
102
350. 476, 571
3.093.053.154.893.332.49
4.63
231.08693. 03112. 84144. 98
66.50
70.3467.4155.2959. 5933.08
31.3067.1442.97
6,305224
4,971124
97
358. 866, 663
3.163.103.265.073.272.48
9 804 212.83
4.66
229. 53691.44112.61141.35
65.62
69.4867.4955.6158.4332.41
32 9168. 3843.98
5,174154
4,293100
73
348. 866, 727
3.053.003.195.083.192.35
4.69
228. 96690.66114.15137. 82
65.44
69.1566. 2456. 2159.4231.74
33.5569.9844.81
3,668108
3, 05171
61
360. 386, 701
3.002.953 054.873.032.19
4.69
237. 89718. 64119.32141.65
67.79
71.6969.1858. 7361.1932.76
35. 6474.4747.19
5, 101149
4,338104
82
368. 656, 847
3.032.992.994.903.062.22
8 704 274.82
4.69
237. 88711.02121.20143. 23
67.26
70 8969.7859 8262. 1933 02
36 0977.2747. 16
4,215123
3 54382
64
361 146,871
2.952 912.854 762.782 10
4 62
241 67703. 01127 69149. 67
68 00
71 4269 3261 2664 1534 53
36 7379 2649.40
4, 624136
3 89890
73
371 996, 974
2.932.962.744.802.831.98
248. 56724. 74133. 74149. 06
88
FOREIGN TRADE OF THE UNITED STATES
FOREIGN TRADE
Indexes
Exports of U.S. merchandise:Quantity 1936-38 = 100. _Value - _ doUnit value_ do_ __
Imports for consumption:Quantity _ _ do_ __Value -- - doUnit value _ - _ do
Agricultural products, quantity:Exports, U.S. merchandise, total:©
Unadjusted 1952 54-100..Seasonally adjusted. do _
Cotton fiber (incl. linters), seas, adj do_.Imports for consumption, total:©
Unadjusted doSeasonally adjusted do
Supplementary imports, seas, adj doComplementary imports, seas. adj. do
Shipping Weight
Water-borne trade:Exports, incl. reexports§ thous. Ig. tons _General imports _ ^ , do
Value
Exports (mdse.), incl. reexports, total^ mil. $ _Excl. MSP (military) shipments do
Seasonally adjusted* do
By geographic regions: AAfrica doAsia _ _ _ doAustralia and Oceania .-doEurope _ do
Northern North America ___ doSouthern North America __doSouth America... ._ _do ..
274596217
224609272
154
99
110
110110
'8,146r 14, 859
1, 468. 51, 366. 2
57.2228.826.9
382.6
310.7148.2165.4
317694219
216595276
194
202
103
106102
' 9, 408r 14, 8 10
1, 708. 31, 629. 2
63 4301.639.5
540 5
308 3138. 2174.0
323709220
205564276
199181152
9611091
124
10, 21814, 132
1,743.91, 690. 01 706 6
67 3284 749.4
572 2
310 7138 8200.1
333731220
209573274
238200222
97112120108
9,28113, 866
1, 796. 71, 723. 61 676 6
65 0321.650.8
612 0
313 3128 0170.9
331729220
206561272
247199219
9990
11280
8,68013, 700
1, 796. 61, 743. 31 621 4
68 4382 138.1
611 1
269 8133 5180.9
301664220
198542274
210196231
101899288
7,32113 634
1, 646. 71, 538. 81 649 2
59 2334 838.3
518 6
263 2110 0162.6
306681223
185505274
206198203
96909785
7,75512 833
1, 671. 51, 606. 11 763 5
62 1333 639.4
534 0
280 5114 9178.2
350781223
222602271
225208226
120105111101
8,64013 514
1,934.21, 889. 11 687 1
80 1388 838.0
622 7
315 5130 3212.8
308692225
187510273
185191181
98857790
8,56711,597
1, 705. 51, 647. 01 655 2
63 8358 028.7
529 6
302 7126 4170.4
313708
'226
214580271
184188127
10310991
125
f 10, 419r!4 300
1, 743. 81,671.31 554 5
65 6366 830.0
519 1
319 7114 5174.2
305688226
214580271
15517782
11211595
132
10, 55414 110
1,698.91,643.81 591 2
54 1336 626.3
530 9
330 1114 1173.3
296663224
223605271
157204
'231
108121113127
1,637.01, 558. 41 707 2
76 3349 332.3
439 2
269 5118 7203.0
'302r 677
224
224610272
179221391
113123127121
rl,669 8T\ 598 3r\ Q7o 5
65 2r 300 6
38.7r 517 7
r 302 4r 122 0
' 176. 6
295662225
211573272
rl,631 3r\ 556 8r\ gOg Q
r 63 1r 293 9
32 5r 490 4
r 299 5193 7184.5
1 889 61 816 61 819 5
' Revised. » Preliminary. 1 Quarterly average at annual rate.2 For 12 months ending Dec.cTNumber of stocks represents number currently used; the change in number does not
affect continuity of the series. 9 Includes data not shown separately.©Minor revisions for Jan.-Aug. 1960 will be shown later.
§Excludes "special category" shipments and all commodities exported under foreign-aidprograms as Department of Defense controlled cargo.
^[Data include shipments (military and economic aid) under the Mutual Security Program.AExcludes "special category" shipments.*New series. Data prior to Aug. 1960 may be obtained from Bu. of Census reports.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-22 SURVEY OF CURRENT BUSINESS December 1961
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 | 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FOREIGN TRADE OF THE UNITED STATE S—Con tinned
FOREIGN TRADE— ContinuedValue — Continued
Exports (mdse.), incl. reexports — ContinuedBy leading countries:
Africa:United Arab Republic (Egvpt Reg ) mil $Union of South Africa do
Asia and Oceania:Australia including New Guinea doColony of Singapore doIndia doPakistan doJapan doRepublic of Indonesia doRepublic of the Philippines do
Europe:France doEast Germany doWest Germany doItaly - doUnion of Soviet Socialist Republics. _do ._United Kingdom do _ _
North and south America:Canada do
Latin American Republics, total 9 - - do _ _Argentina doBrazil do _Chile . . _ _ _ d oColombia doCuba _- - do _-Mexico doVenezuela do
Exports of U S merchandise, total f doBy economic classes:
Crude materials doCrude foodstuffs doManufactured foodstuffs and beverages doSemimanufacturescf _ _ do _ _Finished manufactures cf do
By principal commodities:Agricultural products, total 9 do.. -
Cotton unmanufactured doFruits, vegetables, and preparations doGrains and preparations - do__ _Packinghouse products doTobacco and manufactures A do. _
Nonagricultural products total 9 doAutomobiles, parts, and accessories doChemicals and related products! - -- do --Coal and related fuels doIron and steel products do
Machinery, total §9 do _ _Agricultural.. _ _ doTractors, parts and accessories doElectrical __ _ _ _ _ doMetalworking§ . doOther industrial do
Petroleum and products doTextiles and manufactures do
General imports, total doSeasonally adjusted* do
By geographic regions:Africa doAsia _ - -_ _ _ - _ - do_ _Australia and Oceania do - -Europe doNorthern North America _ _ _-doSouthern North America doSouth America do
By leading countries:Africa:
United Arab Republic (Egypt Reg.) doUnion of South Africa do
Asia and Oceania:Australia, including New Guinea doColony of Singapore do_ _-India doPakistan do -Japan doRepublic of Indonesia doRepublic of the Philippines do
Europe:France do _ _East Germanv doWest Germany doItaly doUnion of Soviet Socialist Republics doUnited Kingdom _.do_ _
8 818.4
22 22 5
28 08.7
80 45.5
22.9
28.31
62.334.0
.673.7
310 6
292.919.334.411.417.136.561.761.6
.,453.2
159.4120.789.8
205.5877.8
329.637 732.1
118.323.536.7
1,123.6104.8124.532.346.7
323.912.029.682.226.0
158.340.052.9
1,267.3
49.1216.928.1
384.0253.7132.8202.8
1.49.8
16.42.4
17.33.0
85 715.926 0
38.53
76.732 3
2 494.8
12.523.1
32.33.4
53.314.0
110.76.9
24.6
48.0.3
88.953.53.2
117.2
308.2
287.929.135.516.220.518.567 245.8
1,691.6
215.5136.693.0
293.5952.9
402.082.332.4
137.525.139.7
1,289.6107.7140.030.173.2
357.812.132.383.230.7
178.139.957.8
1,221.2
44.6226.7
22.2355.6242.0127.1203.0
2.69.0
11.91.6
19.03.0
95.718.025.5
33.0.3
74.732 81.9
82.7
15.822.2
38.43.5
60.68.3
99.65.6
24.3
44.3.2
87.552.04.3
145.9
310.7
312.937.733.921.020.817.165.562.6
1,729.4
239.3143.8102.3285.2958.9
431.959 439.4
143.328.974.8
1,297.5108.5144.836.173.7
367.79.4
32.285.729.5
185.739.961.6
1,157.21,196.2
36.5210.616.6
340.4240.993.2
219.0
.78.2
8.61.1
17.61.9
95.315.719.9
28.6.2
75.135 91.8
72.8
21.617.5
41.44.0
54.118.0
115.99.5
25.2
46.0.1
93.852.34.4
127.9
313.2
272.530.137.318.019.23.9
68.140.9
1, 782. 8
283.2146.999.9
286.0966.9
495. 898.427.3
154.425.672.3
1,287.0119.4132.929.471.9
377.08.8
28.494.637.3
183.437.557.4
1,160.81,128.0
36.1209.610.9
338.2249.1106.4210.5
.56.6
5.5.9
17.72.7
91.515.020.3
31.1.2
69.534 0
.677.7
16.320.7
32.93.7
67.717.7
156.06.8
31.4
43.20)92.066.4
4.0132.3
269.8
289.032.143.816.721.2
5.275.837.9
1,777.7
287.0144.1106.2292.7947.6
504.2134 731.3
156 327.343.1
1,273.5105.7140.1
23.462.1
382.18.9
30.682.646.5
184.837.858.2
1,157.11,099.7
42.8209.517.7
343.4223.2122.9197.5
1.48.0
11.71.7
17.53.2
83.322.120.0
27.1.3
78.832.72.8
68.6
11.218.7
30.13. 6
52.013.5
135.616.724.8
49.0.2
83.070.73.9
97.4
263.2
248.428.641.218.116 32.9
58.835.9
1,618.7
236.3132.689.0
258.2902.6
423.2130 426.1
138.224.024.8
1,195.593.3
121.319.553.4
349.510.628.982.334.5
166.434.956.3
1,123.61,119.1
46.4196.818.8
315.3208.4113.3224.6
.78.6
11.11.2
19.94.3
84.412.420.9
24.2.3
69.229 11.0
60.6
12.022.0
29.93.3
40.210.1
137.813.824.7
49.9.3
90.570.72.6
92.1
280.5
271.131.039.420.918.83.8
62.641.3
1, 659. 0
218.8156.788.3
273.7921.6
426.3112 1
24.7161.2
24.425.7
1,232.797.6
145.119 660.3
374.613.932.780.635.2
184.532.155.4
1,045.91,121.6
43.5167.813.6
299.3197.8124.8199.1
.79.5
9.5.8
17.63.5
61.711.522.6
26.7.3
66.024 91.0
63.5
16.128.5
29.64.0
48.621.5
164.012.227.8
61.00
102.081.64.6
115.2
315. 5
314.229.657.320.720.72.6
69.557.0
1,903.7
224.8177.2105.6299.9
1,096.3
469.5113 631.8
187.626.731.2
1,434.2115.2158.420.166.1
447.217.135.2
105.642.1
210.040.166.6
1,230.51,127.1
52.6215.8
28.2343.7249.2139.5201.6
1.88.7
14.2.9
22.34.7
82.514.131.1
32.2.2
75.628.41.5
75.2
12.020.1
21.44 0
42.917.7
148 212.224.7
52.61
84.867.56.8
79.3
302 7
268.934 834.318.021.32.0
68.334.2
1,687.5
187.4153.988.5
266.2991.4
394.179 826.7
156.623.926.7
1,293.4105.9141.0
24 560.9
412.816.335.395.840.9
193.339.057.9
1,041.91,129.1
53.5181.8
29.4287.3212.3104.2173.4
.810.1
14.5.8
17.12.8
76.613.224.0
26.5. 1
63.825 9
2.956.6
13.819.9
23.14 0
38.718.7
160.010.231.2
45.3(i)89.672.62.8
74.8
319 6
265.740 637.117.423 4
.963 227.8
1, 725. 4
186.5163.898.4
287.5989.3
395.253 034.2
165.527.726.7
1,330.299.9
151.633 281.9
393.515.633.488.039.8
185.138.953.9
1,194.51,117.4
49.7207.524.6
338.4263.7128.5182.1
2.28.7
11.51.0
21.82.7
80.911.530 2
35.8.1
69.628 62.8
72.3
8.513.9
19.53 8
36.812.3
154 66.7
34.0
46.8(i)86. 366.19.8
73.8
330 1
261.331 141.914.620.5
.562 937.7
1,677.9
166.3144.5
94. 7290.4982.0
348.236 737.2
130.831.030.0
1,329.691.4
139.633 788.5
391.114.329.795.138.4
185.538.053.2
1,220.21,180.9
62.3202.827.7
334.9273.0127.6192.0
11.710.2
15.11.6
19.72.9
81.212.526.5
38.2.3
69.829 53.1
72.0
13.421.9
24.43.6
55.611.1
144.58.6
29.1
35.0.1
72.353.46.4
70.1
269.5
298.235.550.122.223.2
.664.941.2
1, 617. 3
166.2139. 691.1
279.6940.9
350.445 433.2
135.133.731.4
1, 266. 992.7
149.727.273.6
390.410.627.386.440.8
189.236.449.3
1, 267. 81,371.4
71.6231.435.0
357.0271.9119.3181.8
13.412.2
17.3.8
23.02.6
92.614.533.2
42.6.3
73.631.51.5
86.6
11.717.4
32.84.3
29.2'11.2139.410.123.6
43.1.2
'88.5••63.1
3.8'85.0
'302 4
274.432 737.517.016.3
.168.646.8
r 1,650.4
r226 3r 135. 1
r 90 8r 266. 7r931 5
r 391. 489 430.9
' 133. 825.635.6
r 1,259.0'81.2
' 142. 2T 38 4'69.2
' 374. 5
'9.027.0
r 94.4MO. 6
' 178. 4Ml. 9
53.81, 233. 51, 242. 8
47.5242. 633.4
334.4288.898.4
188.5
.98.8
21.92.6
18.02.5
107.314.431.0
40.8.3
65.236.81.3
73.5
'8. 415.9
27.43 8
24.613.4
132 7'12.2'23.7
44.7(i)
'82.2r 55.9
.2' 109. 1
r299 5
' 283. 235 636 518.721 0(i)67 4
'44. 7' 1,614.6
'202 4' 145. 9
T 79 4r 250. 2r 936. 7
' 371. 244 831.6
r 139. 324.776.1
T 1,243.4'85.8139. 3'37 2
67.3
' 378. 67.8
28.8'89.9'38.1
' 186. 0'34.1
53.91,176.31, 249. 0
37.3220.829.2
327. 1270.891.7
199.3
.410.0
16.41.7
17.83.3
94.314.028.2
35.52
67.929.43.3
70.7
1, 866. 6
249 3189.4119.6272. 7
1 035 6
501.443 049.5
181.330.082.3
1 365 3105 4148. 136 9
71.3
422.18.8
32 9104. 439.5
207. 537 359.9
1.340.01,318 9
'Revised. 1 Less than $50,000.9 Includes data not shown separately.ISee similar note on p. S-21.cfData for semimanufactures reported as "special category, type 1" are included with
finished manufactures.
AManufactures of tobacco are included in the nonagricultural products total.§Excludes "special category, type 1" exports. *New series. Data prior to August
1960 may be obtained from Bureau of Census reports.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December lOfil SUEVEY OF CURRENT BUSINESS S—23
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
I960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FOREIGN TRADE OF THE UNITED STATES—Continued
FOREIGN TRADE— Continued
Value — Continued
General imports, by loading countries— ContinuedNorth and South America:
Canada . _. mil. $__
Latin American Republics, total 9 do
Argentina doBrazil do _.Chile doColombia doCuba - -doM^exico doVenezuela _ do __
Imports for consumption, total , __doBy economic classes:
Crude materials - -doCrude foodstuffs doManufactured foodstuffs and beverages. .doSemimanufactures doFinished manufactures _ do
By principal commodities:Agricultural products total 9 do
Cocoa (cacao) beans, incl. shells _ __doCoffee doRubber, crude, including guayule doSugar _ -_ do __Wool and mohair, unmanufactured do
Nonagri cultural products, total 9 do
Furs and manufactures _ doIron and steel products doNonferrous ores, metals, and mfs. , total 9
mil. $._Copper, incl. ore and manufactures, _ d o _ _ _Tin including ore do
Paper base stocks doNewsprint -- - --doPetroleum and products do
253.5
300.1
10.552.416.8
28.339.636.374.2
1, 249. 5
258.1152.0133.3275.5430.7
341.6
13.791.431.941.318.7
907.9
9.052.1
93 224.810.028.855.5
128. 0
241.8
294.1
8.247.516.125.029.836.979.0
1, 221. 0
251.1143.5130.5257.7438.2
318.7
11.983.726.842.316.4
902.3
9.144.2
95.733.59.8
28.057.4
128.6
240.7
278.5
6.948.919.836.27.6
27.876.7
1, 156. 9
229.9146.1122.4233.3425.2
286.3
8.493.819.624.813.9
870.6
5.231.9
90.023.49.6
29.159.8
119.0
248.9
276.8
5.745.09. 1
35.36.2
31.381.9
1, 175. 9
219.2141.0139.4245.6430.7
292.3
8.983.020.439.712.1
883.7
6.230.8
87.529.16.7
31.265.2
135.7
223.2
277.0
7. 142.69.5
24.72.9
39. 183.9
1,151.0
231.8149.2115.5242.6411.8
295.4
12.282.724.128.711.9
855.6
17.228.6
86.933.29.4
23.159.3
141.6
208.3
295.5
9 238.221.232.43.6
40.791.8
1,111.7
235. 2153.9105.8234.9382.0
297.6
18.486.619.923.716.7
814.1
12.923.3
75.926.86 4
25.053.8
152.0
197.8
282.3
7.342.115.020.12.7
49.590.4
1, 036. 6
210.3139.7110.5228.1347.9
276.3
16.876.615.337.814.4
760.3
11.624.1
70.823.97. 1
27.448.1
137.5
249.2
295.1
8 447.811 925.83.0
53 479.0
1, 235. 3
237.4168 1142.9265 0421.9
345.4
16.397 315.852.619.0
889.9
9.032.3
89.524.85 7
27.262.0
147.5
212.3
244.1
7 843.515 617 51.1
42 766.5
1, 045. 7
202.5141 8109.6225 1366.6
285 3
19.675 813.225.717.9
760.4
6.832.6
67.310.57 1
22.253.2
128.1
263.5
264.1
10 642 013 622 42. 1
52 273.5
1, 188. 5
229.9139 4125.0267 4426 8
294 5
16.374 315.538.715.9
894 0
7 237.3
94.134.87 1
28 064.9
128 0
272.7
274.5
10 140.617 829 24.3
56 070.1
1, 189. 0
238.5150 3136.3253 5410 3
314 9
17.991 618.237.116.1
874 1
6 739.9
78.018.77 9
30 259.2
122 4
271.6
250.7
8 938 518 621 43 4
44 464 0
1, 240. 9
254 2133 1141.8257 1454 7
314 9
20 872 718.649.719.1
926 0
5 841.5
89 217.113 225 356 0
138 0
288.4
243.2
8 753 211 920 02.3
37 369.6
1, 250. 1
259.4138 0147.4251 7453 6
333 4
13 777 718.545.915.1
916 7
4 443 9
86.220.611 030 758 7
124 0
270. 6
251.5
8 957 28 1
22 04 0
32 471 4
1 175 6
242 7130 5135.2252 4414 9
297 1
7 379 116.035 315.4
878 5
5 240 4
91 020.013 728 155 5
132 0
1, 335. 2
271.0146 9153.7284 3479 4
325 6
4 578 822.840.619.2
1 009 6
4 446.0
113.228.013 931 058.4
130 2
TRANSPORTATION AND COMMUNICATIONS
TRANSPORTATION
Airlines
Scheduled domestic trunk carriers:Financial operations (qtrly. totals):
Operating revenues total 9 mil $Transport, total 9 __ do
Passenger doProperty - _ _ d o _ . -U S mail do
Operating expenses (incl depreciation) doNet income (after taxes) do
Operating results:Miles flown (revenue) thous _Express and freight ton-miles flown _ do _Mail ton-miles flown doPassengers originated (revenue) __doPassenger-miles flown (revenue) mil--
Express OperationsTransportation revenues __ _ thous. $_Express privilege payments do
Local Transit LinesFares, average cash ratet cents__Passengers carried (revenue) mil-Operating revenues mil. $
Class I Motor Carriers (Intercity)Carriers of property (qtrly. totals):
Number of reporting carriers . _.Operating revenues, total. _ _ mil. $__Expenses, total __ _ _ __ do_ _Freight carried (revenue) mil. tons
Carriers of passengers (qtrly. totals):Number of reporting carriers __ __Operating revenues, total __ mil $Expenses, total __ _ _ __do ___Passengers carried (revenue) mil-_
Class I Railroads
Freight carloadings (AAR):c?Total cars thous
Coal doCoke - - doForest products do___Grain and grain products __ do
1 456. 1i 452. 61 411.8127.3i 10.6
* 429 8i 14.5
62, 88328, 2799,8333,7852,356
32, 34412, 143
18.1638
114.7
292311,160.8U,110.1
i 68.7
2 139i 110. 5
i 95.6i 58.3
2,58545234
171227
1 493. 5i 489. 11 443. 4
130.01 11.7
1 484 61 1. 1
60, 41931,71811,0663,8552,450
30, 70510, 429
18.9627
117.3
292311,188.411,158 5
i 69.0
2 139i 115 11 100. 6i 56.6
2,53744334
162232
59, 75735, 99411, 2573, 9652,487
31, 30010 621
19.1637
122 2
2 55843725
154268
55, 19932, 69111 0433,5182,129
30, 96110 552
19.2628
121 0
2 20338823
135255
491 6486. 1436 131.613.4
485 3d 1.5
56,97135, 73616 4793,5042,284
35, 45812, 111
19.2652
125 5
9231, 207. 81, 197. 9
69.0
139111 3101.355.7
2,40147726
152232
56, 33530, 45911 1523,4492,348
27 8226 983
19.4611
116 8
1 92238221
129211
43, 33127, 00210 3892,8291,818
27, 1816 783
19.4582
110 4
1 95537621
134222
460 7455 6413 028.712 0
479 0d 16 9
57, 10636, 09413 2393,7792,398
32 79011 955
19.4659
123 5
9881,112.11,097 0
64.5
14097 895 851.3
2 50740528
175261
56, 63632, 32211 6313,8712, 459
28 0338 171
19.5603
114 5
2 10636523
146196
58 Oil36 60612 0003' 8392 380
30 89110 474
19.5644
121 3
2 24238826
148202
534 1527. 3479 931.812 3
511 24 4
60, 31338, 11611 7814,2812 826
31 02211 576
19.5599
113 6
9811,223.21 158 3
71. 7
140118 9103 855 4
2 86047034
183293
61, 74433 66210 6293,9372,678
26 103r 8 719
19.6531
106 3
2 17432925
140256
62, 75039 77512 1044 2282,807
32 1029 797
19.6567
112 6
2 36742128
159234
31 4669 974
19.7584
108 8
2 95153738
190245
19.7633
2 58045531
157244
2 31043431
146213
r Revised. d Deficit. i Quarterly average.2 Number of carriers filing complete reports for year 1960.9 Includes data not shown separately.
JRevised effective Jan. 1960 to reflect fares charged in U.S. cities with a 1960 populationof 25,000 or more; revisions for 1960 are shown in the Nov. 1961 SURVEY.
cf Data for Dec. 1960 and Mar., Jane, and Sept. 1961 cover 5 weeks; other months, 4 weeks.Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-24 SURVEY OF CURRENT BUSINESS December
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
TRANSPORTATION AND COMMUNICATIONS—Continued
TRANSPORTATION— Continued
Class I Railroads— Continued
Freight carloadings (AAR)— Continued cfLivestock _ _ _ _ _ -thous .Ore _ do _ _Merchandise, l.c.l __doMiscellaneous do
Freight carloadings, seas. adj. indexes (Fed. R.):fTotal 1957-59=100
Coal ___ ___ _doCoke doForest products doGrain and grain products doLivestock __doOre doMerchandise, l.c.l doMiscellaneous do
Financial operations:Operating revenues, total 9 __mi l . $._
Freight doPassenger do _ _
Operating expenses doTax accruals and rents doNet railway operating income doNet income (after taxes) § _ d o _ _ _
Operating results:Freight carried 1 mile (qtrly ) bil ton-milesRevenue per ton-mile (qtrly. avg.) cents__Passengers carried 1 mile, revenue (qtrly.) ..mil--
Waterway Traffic
Clearances, vessels in foreign trade:Total U.S. ports thous. net tons
Foreign vessels doUnited States vessels do__.
P an am a Canal:Total thous. Ig tons
In United States vessels ._ _do_
TravelHotels:
Average sale per occupied room dollarsRoom? occupied % of totalRestaurant sales index same mo 1951 — 100
Foreign travel:U.S. citizens: Arrivals thous__
Departures doAliens • Arrivals do
Departures doPassports issued and renewed do
National parks, visits doPullman Co.:
Passenger-miles (revenue) milPassenger revenues thous. $ _ _
COMMUNICATIONS
Telephone carriers:Operating revenues 9 mil $
Station revenues doTolls, message _ do _
Operating expenses (before taxes) _ doNet operating income doPhones in service, end of year or mo._ _ mil__
Telegraph, cable, and radiotelegraph carriers:Wire-telegraph :
Operating revenues _ thous. $_Operating expenses, incl. depreciation doNet operating revenues do
Ocean-cable:Operating revenues doOperating expenses, incl. depreciation doNet operating revenues do
Radiotelegraph:Operating revenues doOperating expenses, incl. depreciation doNet operating revenues do
25139176
1, 361
' J 98'92'92' 104
'99'95'99'88
'100
818.8692 754.3
642.1114.462,348.2
2 148. 12 1. 44525,513
12,95910, 7402,219
4,5871,061
8.9266
115
155152937961
1 ,864
2894,624
649. 3367.2221.0393.6108.062.0
21, 73718,7342,091
3,0502,356
395
3,9733,021
824
22184151
1,309
'195'90'91'99
'101'83
'114'75'96
792.9668.853.4
630.4113. 748.737.1
2 147. 02 1. 40225,315
13,89311,2862,607
5, 2061,080
9.1565
115
1691671088971
3 2 217
2804,488
696.5392.6236.5418.3116.665.0
21, 86419, 4951,300
3,0142,470
225
4,2243,322
750
41184142
1,306
'92'86'69'97
'114'84'84'71'92
' 816. 1' 695. 7
46.5624.8121.269.854.8
14,87611,8543, 022
5, 0651, 024
10.0472
114
1631361259840
1,778
2423,853
711.0402.3239.8424.3122.564.6
22, 42419, 9571,610
2,9192, 480
141
4,2453,318
802
2690
1291,156
'89'81r 77'91
'110'77'73'70'90
756.5638.046.5
603.4106.147.033.9
13, 57310, 7882,785
5,161997
9.6263
107
1321071028037
886
2143,507
707.2402.4235.4424.4120.564.7
21, 73519, 7941,120
2,9202,426
190
4, 1453,313
744
2059
1381,296
'87'82'60'87'98'76'75'66'89
731.5588.160.7
613.683.634.352.7
141.01.3924,917
13,17710, 6122, 565
5, 046970
8.7250
110
120126949735
508
3075,060
723.0405.7247.5446.6118.165.0
22, 93920, 6401,621
3,1052,282
478
4,6553, 530
864
1544
1091,011
'87'82'60'89
'103'72'71'64'88
699.2584.552.8
596. 4106. 9d4.1
* 7.9
13, 06610, 8002,265
5,072875
8.9163
111
133126936756
516
3165,259
71 8. 1407.1240.9428.7120.665.1
21,71320, 206
216
3,0112,479
220
4,2753,395
737
1148
1181,025
'88'83'58'91
'111'68'83'65'88
668.3559.649.5
573. 799.4
* 4-8d!9.5
12,0069, 8142,192
4, 868621
9.0864
113
120129
6164
569
2974,981
701.1403.3227.0417.4117.865.3
20, 72718, 866
590
2, 7662,308
158
4,0513,264
651
1872
1581,390
'88'74'60'93
'104'74'92'66'90
761.3642.650.1
611.2118.032.114.4
132.01.3864,743
13, 50210,9262,576
5,675937
8.7064
118
16015710385
103729
2764,611
735.8408.5256.8448. 9119.465.5
23, 38320, 484
1,548
3,1552,524
270
4,6133,513
947
1765
1191,176
'90'85'65'97
'102'80'54'63'92
714.9604.446.1
584.1108.122.6
4.4
12, 94510, 3222,623
5,287805
9.5765
114
15417010183
1021,115
2343,882
720.1408.9239.6426.2125.365.7
21, 33919, 391
682
2,8792,504
77
4,4393,345
942
17136117
1,208
'92'89'79'96
'108'74'64'63'93
778.5664.647.7
617.3120.540.825.5
14, 62011,9272,692
5, 953837
8.8265
121
15016310794
1171,760
2073,405
744.1413.7256.1447.6125.466.0
22, 97620, 5221,139
3,0772,538
194
4,5003,436
898
14244140
1,483
'92'87'83'94
'111'62'78'62'92
796.4670.658.1
613.6123.459.443.6
144 11 . 3814,929
14,21511, 9392,276
5, 757788
9.4564
115
187258110111105
4,020
2514,111
742.4414.3254. 6440.0127.066.1
23, 16320, 1211,785
3,1642,427
436
4, 5283,459
912
11213106
1,095
'91'87'90'96'97'69'84'60'93
754.2629.358.7
606.6111.935. 620.4
5,626691
8.5854
105
23126312411376
6,674
2433,957
730.2409.3245 6430.2133.066.3
20, 64519, 876
*597
2,8772,423
102
4.2433^478
608
14223114
1,174
'92'89'93'98
'104'71'87'60'92
825.4695.958.9
625. 6125. 274.659.7
5, 663907
9.6061
109
299
138
696,438
2554, 155
753.8414.2264.3447.6128.066.5
23,01320, 627
1,241
3,0352, 465
247
4,6523,543
959
28263141
1,509
'90'89'93'97'96'68'90'58'91
774.7658.347.9
600.5113.460.8
36202111
1,344
'94'90'88'99
'104'74'92'56'96
843.3721.047.4
89.7
24144103
1,214
959286
100
9772
1185796
\5,021
851
9.4765
111
522,818
229
3,642
741.9416.3250.4441.9124.866.8
22, 28819, 9821,291
2,9142,521
58
4,4123,496
744
5, 283795
10.047 1
111
401.8':6
38
CHEMICALS AND ALLIED PRODUCTS
CHEMICALS
Inorganic chemicals, production:Acetylenet mil. cu.ftAmmonia, synthetic anhydrous (commercial)
thous. sh. tons_Carbon dioxide, liquid, gas, and solid $ doChlorine, gas _ _ do
Hydrochloric acid (100% HC1) ._ doNitric acid (100% HNOs) doOxygen (high purity) t mil cu ftPhosphoric acid (100% P2O5) thous. sh. tons__
1,009
376.674 2
°362 3
79.7256 23 747156.8
1,012
°401 578 4
°386 4
°80 8276 34 832
0 175. 8
976
386 777 3
395 2
83 3289 54 702181.9
965
408.766 6
382 4
79 0300 24 618174.8
999
427.563 1
369 1
71 1300 64 538170.2
989
411.862 8
368 8
72 3285 84 794192.6
848
400.657 0
333 4
67 1272 54 643179.9
980
463.369 2
373 8
74 9295 45 337205.6
902
460.267 5
384.7
76 7277 05 167200.7
984
477.583 1
399.6
77.6274 75 918209.2
896
442.595 5
375.1
73 2254 65 988181.8
790
411.596.7
381.6
73.1255 25,798160.2
938
417.2105.5394.7
83.3276 66, 102
' 175. 0
'939
' 399. 6'87.1
' 349. 8
'70.6283 96,298
' 175. 7
1,100
425.580.8
409.6
83.0297.56, 754195.2
'Revised. d Deficit. °Revisions will be shown later as follows: Jan. 1959-Aug.1960 for chlorine, sodium hydroxide, and sodium sulfates; Jan.-Aug. 1960 for other indi-cated items. l Based an unadjusted data. 2 Quarterly average.
3 Beginning Jan. 1960, data reflect revised definition of visits.cf Data for Dec. 1960 and Mar., June, and Sept. 1961 cover 5 weeks; other months, 4 weeks.tRevised effective with the Dec. 1961 SURVEY to incorporate the 1957-59 comparison
base period, as well as new weights and seasonal factors; indexes prior to Oct. 1960 are avail-able from the Board of Governors, Fed. Res., Wash. 25, D.C.
§Revision for Aug. 1960, $30,000,000.9 Includes data not shown separately.t See similar note on p. S-25.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1061 SURVEY OF CURRENT BUSINESS S-25
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
CHEMICALS AND ALLIED PRODUCTS—Continued
CHEMICALS— Continued
Inorganic chemicals, production— ContinuedSodium carbonate (soda ash), synthetic (58%
NasO). _ _ _ thous. sh. tons _Sodium bichromate and chromate doSodium hydroxide (100% NaOH) do _Sodium silicate (soluble silicate glass), anhydrous
thous. sh. tons__Sodium sulfates (anhydrous, refined; Glauber's
salt* crude salt cake) _ thous sh. tonsSulfuric acid (100% H2SO4)t~ do....
Organic chemicals :d"Acetic acid (synthetic and natural), production
mil. lb_.Acetic anhydride, production do _Acetylsalicylic acid (aspirin), production do
Alcohol, ethyl:Production mil. proof gal._Stocks, end of month doUsed for denaturation doWithdrawn tax-paid do
Alcohol, denatured:Production mil. wine gal--Consumption (withdrawals) doStocks, end of month _ _ do. _
Creosote oil, production _ mil gal_DDT, production mil IbEthyl acetate (85%), production do
Ethylene glycol, production doFormaldehyde (37% HCHO), production. . doGlycerin, refined, all grades:
Production _ doStocks, end of month . do. _
Methanol, production:Natural mil galSynthetic do
Phthalic anhydride, production mil. Ib
FERTILIZERS
Consumption (10 states) § thous sh tonsExports total 9 do
Nitrogenous materials doPhosphate materials doPotash materials do
Imports, total 9 doNitrogenous materials, total 9 do
Nitrate of soda doPhosphate materials doPotash materials . . . do
Potash deliveries _ doSuperphosphate and other phosphatic fertilizers
(100% P2O5) :Production thous sh tonsStocks, end of month do
MISCELLANEOUS PRODUCTS
Explosives (industrial), shipments:Black blasting powder thous IbHigh explosives do
Paints, varnish, and lacquer, factory shipments:Total shipments mil. $._
Trade products doIndustrial finishes do
Sulfur (native) :Production thous Ig tonsStocks (producers') end of month do
SYNTHETIC PLASTICS AND RESINMATERIALS
Production:Cellulose acetate and mixed ester plastics:
Sheets rods and tubes mil IbIVloldin0' and extrusion materials do
Nitrocellulose sheets rods and tubes do
Phenolic and other tar acid resins doPolystyrene doUrea and rnelamine resins do
Vinyl resins do
Rosin modifications do
Polyester resins doPolyethylene resins doMiscellaneous (incl. protective coatings) do
408.710.1
« 395.7
42.9
« 89. 71, 467. 4
56.091.41.5
~"~41.~2~
22.122.14.6
7.513.18.4
101.2145.9
22.522.7
.222.129.8
2764456
56341
47
223129381342
183
217282
19473, 892
144.084.060.0
3794,069
4.38.7.2
47.174.632.1
97.246.711.9
15.199.623.9
379.810.2
-414.3
o41.4
"89.41,490.3
63.791.32.0
154.2i 130. 3
45.215.3
24.224.34.4
7.713.78.9
108.1156.0
24.227.4
.224.733.4
278056143
43568
207105301235
181
221344
12882, 026
147.085.361.7
4123,712
4.27.6.1
49.282.129.8
100. 246.411.8
15.8111.330.4
383. 610.4
421.8
49.9
89.01,491.0
59.677.61.7
61.9129.541.77.0
22.423.93.9
7.014.56.7
111.7149.4
24.526.5
.225.229.9
38066969
467105
180780
1843
183
218372
19588, 276
138.978.260.7
3903,561
4.47.1.1
42.576.227.3
104.630.310.8
12.1112.933.0
360.08.8
409.2
43.4
91.61, 434. 7
62.981.52.0
53.1130.943.06.2
23.121.35.8
7.514.37.1
104.9135.5
22.928.1
.225.126.5
39238638
27449
1164709
24
119
235424
23880, 206
126.269.556.7
4003,553
4.17.1.1
40.074.025.9
98.026.68.7
11.2114.130.4
342.18.3
394.1
37.0
88.51,432.3
61.680.11.9
52.4134.548.34.1
25.926.55.3
7.714.25.8
108.8129.9
20.930.0
.227.428.8
345503
4237170
1266309
14
272
218434
18679, 907
109.460.948.5
4773, 669
4.86.1.1
39.371.323.8
86.725.58.6
11.0119.729.4
339.89.9
386.9
35.1
90.71,494.0
59.674.42.2
51.2137.950.74.0
27.625.37.7
6.415.26.0
119.5127.1
23.932.8
227." 826.2
349407
1929684
216119117
44
126
245443
13370,391
125.5372.83 52. 7
4003,698
3.76.7.1
40.866.524.0
87.725.39.3
9.6114. 531.6
336. 08.5
352.8
36. 3
83.31, 388. 7
54.570.61.7
44.9136.539.94.8
21.423.45.8
6.813.45.8
101.0124.8
20.233.2
.223.325.3
557496
1837983
261135599
54
177
240427
13967, 046
116.065.750.3
3573,703
3.76.3.1
40.662.722.4
81.124.68.8
12.1108.331.0
375. 510.3
399.8
41.7
95.71, 562. 8
67.989.61.6
51.7139.950.34.9
27.026.96.1
8.216.06.6
101.3145.5
23.333.7
.224.831.0
1,430439
40321
67
359194532161
282
264349
6673, 887
146.687.559.1
4543,776
4.57.6.1
46.371.827.0
93.128.58.8
14.1129.335.9
373.38.9
414.2
44.6
97.61, 540. 4
58.082.11.7
49.8141.842.54.7
22 922.86.3
6.914.211.0
95.7138.3
25.637.1
.224.734.7
2,021547
2744644
273127402247
309
246274
5877, 714
151.793.258.5
4443,780
4.27.1.1
45.179.524.8
97.530.69.0
13.6124.938.5
400.810.4
434.3
55.5
92.21, 574. 0
62.798.21.8
54.6154.441.55.3
22.321.47.2
8.515.86.8
98.4148.4
23.637.9
225^936.3
1,441527
5543922
311161831842
177
241309
8688, 356
169.8104.865.0
4733,842
4.47.5.1
49.785.928.8
104.533.69.0
15.2129.037.6
372.210.9
394.9
37.0
92.81, 446. 3
65.7100.8
2.0
46.0139. 241.85.6
22.523.16.6
8.914.79.5
97.0139.1
20.234.6
.124.633.5
919636
27536
57
17710148119
54
196383
4483, 958
179.8112.867.0
4753,830
5.07.9.1
51.186.628.7
104. 533.710.0
13.0132.838.9
366.39.1
406.5
35.5
88.81, 354. 6
68.490.91.1
44.2139.7
41.64.2
22.422.66.4
8.814.96.1
94.4125.7
18.632.5
.124.333.0
404663
1655185
1399234153
124
157426
7081, 360
155.199.555.6
4873, 969
4.06.5.1
39.882.722.9
91.931.89.3
12.0135.433.8
376.010.2
418.9
41.0
94.41,401.7
69.693.32.0
49.6142.341.55.0
22.924.25.1
10.314.74.6
99.3154.9
24.433.8
.125.533.3
255534
13447
57
1589337JO19
232
185437
29992, 792
169. 7103.666.1
4994,056
5.06.6.1
'51.988.4
'32.6
r 107. 434.510.0
r 13.6134.040.3
369.19.9
370.0
43.0
72.3, 390. 9
65.0105.0
2.0
53.4140.937.65.5
20.319.06.4
8.113.77.2
87.7155. 5
18.032.6
.122.831.6
52318
42870
203124355
33
124
'213r 424
10693, 769
154.192.162.0
4124,125
5.48.5.1
52.689.732.7
101.132.911.4
12.7121.8
7.3
408.111.6
440.3
54.6
, 546. 2
23.030.7
54834
45252
260138351554
211
234434
19894, 844
153. 190. 362.8
* Revised. « See similar note on p. S-24.1 Effective July 1960, data for production, stocks, and withdrawals of ethyl alcohol in-
clude amounts classified as "spirits"; the 1960 averages shown are based on July-Dec, data.2 Based on data for 11 States; see note " §".3 Beginning Jan. 1961, trade sales of lacquers (formerly shown with industrial finishes)
are included under trade products.I Re visions for Jan. 1959-June 1960 for carbon dioxide and Jan.-June 1960 for acetylene,
oxygen, and sulfuric acid are shown in the Oct. 1961 SURVEY.
cf Data (except for alcohol) are reported on the basis of 100% content of the specifiedmaterial unless otherwise indicated.
§States represented are: North Carolina, South Carolina, Georgia, Florida, Alabama,Tennessee, Arkansas, Louisiana, Texas, Oklahoma; also Virginia in 1959 and 1960 monthlyaverages. According to quarterly reports from Virginia, consumption in that State is asfollows (thous. sh. tons): 1961—Jan.-Mar., 258; Apr.-June, 311.
9 Includes data not shown separately.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-26 SURVEY OF CURRENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1861
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
ELECTRIC POWER AND GAS
ELECTRIC POWER
Production (utility and industrial), totalmil. kw.-hr__
Electric utilities, total -- do - _By fuels doBy waterpower _ _ __do
Privately and municipally owned util doOther producers (publicly owned) do
Industrial establishments, total do _ _ _By fuels doBy waterpower _ do_ _
Sales to ultimate customers, total (EEI) doCommercial and industrial:
Small lifht and power doLarge light and power _.do _ _ _
Railways and railroads doResidential or domestic _ _doStreet and highway lighting doOther public authorities __ __ _ _ d o _ __Interdepartmental do
Revenue from sales to ultimate customers (EdisonElectric Institute) mil. $_
GAS
Manufactured and mixed gas (quarterly) :Jd"Customers end of quarter total 9 thous
Residential doIndustrial and commercial do
Sales to consumers total 9 rnil thermsResidential doIndustrial and commercial do
Revenue from sales to consumers, total 9mil. $ .
Industrial and commercial -- do
Natural gas (quarterly) :td"Customers, end of quarter, total9 ___thous~
Residential doIndustrial and commercial do
Sales to consumers total 9 mil therms
Industrial and commercial -- do
Revenue from sales to consumers, total 9 mil. $Residential doIndustrial and commercial do
66, 27159,16747, 68511, 482
48, 23810, 929
7,1046. 823
281
52, 229
8, 89125, 732
34414,451
4891,184
54
881.1
2, 7322 549
181
585418162
77.859 917.4
29, 18426, 8462 304
21, 3797 007
13,310
1,184.9655. 1497.5
70, 03862, 73850, 61 212,126
51,26811, 470
7,3007, 004
296
56, 767
9,41028, 270
39815,760
5071,303
54
955.2
2,3742 218
155
568403162
74.457.216.9
30, 55428, 0872,431
22, 6377 558
13, 907
1,326.6734. 9553.8
69, 48562, 25251, 75910, 493
51.25710, 996
7,2336, 995
238
56, 655
9,73928, 625
38014,915
5431,378
58
961.7
68, 27161,41050, 64910, 761
50, 43110, 979
6, 8626, 599
263
55, 704
9, 22528, 036
38615,223
5821,392
50
947.0
72, 99766, 20254, 94111,261
54,16912, 033
6,7946,541
254
57, 491
9,32727, 882
46217,001
6131, 420
56
975. 0
2,1652,024
140
544386156
68.853 115.5
31, 34328, 7782,525
22, 5547 414
13, 876
1,362.4750. 3570 0
73, 54766, 55955, 80310, 756
54, 40812,152
6,9876,720
267
i 59, 436
10,13727, 387
45719, 430
6231, 325
77
1,010.9
65, 74659, 26349, 01810, 245
48, 46210,801
6,4846, 224
259
58,101
9, 94426, 856
44518, 839
5601,386
72
997.6
71, 74264, 61150, 76513, 876
52, 44412,196
7,1016,777
324
58,177
10, 27527, 709
41817, 740
5681,3452122
981.0
2,1752,029
145
945735201
114.892.321.8
31.44428, 858
2 5fO
30 34514 07614 940
2, 030. 61, 289. 4
694 7
68, 28961,28047, 44013, 840
49, 39511, 886
7,0096,682
327
57, 212
10,12927, 668
38417,013
5701,320
128
966.8
71 , 03263, 66049, 64714,013
51,71211,948
7,3717,024
347
57, 803
10, 75528, 593
37016,121
4911,326
146
968.7
72, 41065, 19151,73113,460
53, 23311, 958
7,2196,908
310
58, 903
11 40329, 332
35815, 827
4711, 372
139
989.3
2, 1351 995
139
542376162
67.551.515.7
31,27428, 7632,476
21, 9607 088
13, 788
1, 328. 7725.9566. 1
75, 22368, 20254, 70213, 500
55,01613, 186
7,0216, 765
256
59, 527
12 12228, 797
34116,313
4781,329
146
1,008.5
78, 96571,48658, 37813, 108
58, 06913,417
7,4797,224
255
62, 790
12 90930, 318
36^17, 2"2
4821, 368
152
1,050.5
74, 46667, 29755 36611,931
54, 84912, 449
7,1696 946
223
62, 953
12 89730, 100
35617 498
5531 396
153
1 060 8
74, 47166, 84855 37311,475
54, 40812, 441
7,6237 377
246
FOOD AND KINDRED PRODUCTS; TOBACCO
ALCOHOLIC BEVERAGES
Beer:Production - - mil. bbl _Taxable withdrawals doStocks end of month do
Distilled spirits (total) :Production § mil. tax galConsumption, apparent, for beverage purposes
mil. wine eal_.Taxable withdrawals§ mil. tax galStocks end of month§ doImports - - mil. proof gal-
Whisky:Production - mil. tax gal--Taxable withdrawals __ _ doStocks end of month - _ _ __ -doImports mil proof gal
Rectified spirits and wines, production, totalmil. proof gal
Whisky .. doWines and distilling materials:
Effervescent wines:Production mil. wine gal__Taxable withdrawals _ doStocks end oi month doImports -- -do
Still wines:Production - do _ _Taxable withdrawals _ _ -doStocks end of month doImports -- do
Distilling materials produced at wineries __do
7.767.30
10.29
18.79
2.83
12.116.93
774. 492.52
6.865.42
.29
.262.05.07
14.2211.94
171.55.75
28.36
7.787.32
10.37
3 13. 25
19.5639.90
3 835. 023.10
12.416.84
806. 442.75
7.055.39
.33
.282.45.08
13.8312.44
176. 15.82
27.57
6.776.57
10.02
16.35
21.4212.71
832. 664.36
11.169.98
808. 823.84
10.138.14
.24
.402.55.10
70.4713.35
226. 13.98
125. 57
6.236.419.45
16. 75
24.7211.55
835. 005.09
12.938.78
810. 544.54
8.877.10
.27
.482.31.17
12.2114.83
219 421.27
29.79
6.686.559.13
15.04
27.747.70
840. 363.75
12.615.75
815. 503.33
5.744.17
.31
.432.16.14
7.3512.99
208. 771.03
18.14
6.825.839.74
15.41
15.077.45
846. 062.19
13.105.56
821.301.90
5.063.58
.4323
2.34.06
2.7711.77
200. 88.70
3,73
6.215.57
10.00
15.08
15. 868.65
849. 982.27
12.896.50
825. 472.01
6.394.91
.36
.162.51.04
2.8211.88
188. 57.65
2.86
8.337.36
10.51
16.14
20.249.97
853. 802.91
13.076.93
829. 422.54
6.785.16
.37
.222.63.06
2. 5615.28
177.23.91
1.29
8.457.07
11.40
14.44
18.339.34
856. 232.54
11.576.38
832. 292.24
6.434.80
.35
.222.75.05
2.2011.86
164. 93.81
.50
8.968.22
11.59
15.60
19.8710.24
859. 482.91
12.356.78
835. 972.57
6.985.20
.33
.322.72.08
1.9812.47
156. 42.93
1.14
9.639.20
11.42
15.79
20.9311.31
861. 583.26
11.927.31
838. 412.90
7.775.87
.53
.282 92.07
1.9313.41
140 68.93
.91
9.558.94
11.46
9.83
17.157.96
861. 842.44
7.265.09
839. 092.15
5.464.01
.16
.162 91.05
.859.14
134 10.78
1.79
9.419.16
11.13
10.11
18.9310. 03
859. 463.01
7.396.75
837. 522 64
6.895.10
.35
.262 95
06
5 0012.93
123 45.92
14.31
7.407.62
10 47
13.12
10 52859 43
3.74
9.357.56
837 073 30
7 555.83
.2531
2 8708
50 2613 14
163 921 00
112 99
7.336.99
10 37
4.69
4 12
13
1 23
r Revised. * Preliminary.1 Effective Jan. 1961, data formerly reported separately as rural have been assigned to
other appropriate classifications; prior to 1961, such data are included in total sales only.2 Beginning Mar. 1961, data include sales not previously reported.3 See note "§".{Revised data for 1st and 2d quarters of 1960 appear on p. 23 of the Nov. 1961 SURVEY.
c?The 1959 and 1960 averages shown for gas are quarterly averages.9 Includes data not shown separately.§Eifective July 1960, data for production, withdrawals, and stocks of distilled spirits
exclude amounts classified as "spirits"; such amounts are included with ethyl alcohol (p.S-25). The averages shown are for July-Dec.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SUEVEY OF CURRENT BUSINESS S-27
Unless otherwise stated, statistics through 1960and descriotive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
DAIRY PRODUCTS
Butter, creamery:Production (factory) |- _ _ . __mil. IbStocks, cold storage, end of month do -Price, wholesale, 92-score (N.Y.) $ per lb__
Cheese:Production (factory), total £ mil. Ib
American, whole milk $ __ do
Stocks, cold storage, end of month, total doAmerican, whole milk do
Imports. _ _ _ _ _ -_ - doPrice, wholesale, American, single daisies (Chi-
cago) _ $ per IbCondensed and evaporated milk:
Production, case goods :tCondensed (sweetened) _ _ _. _ _ _ m i l . IbEvaporated (unsweetened) do
Stocks, manufacturers', case goods, end of mo.:Condensed (sweetened) mil IbEvaporated (unsweetened) do _ _ .
Exports:Condensed (sweetened) doEvaporated (unsweetened) do
Price, manufacturers' average selling:Evaporated (unsweetened) $ per case
Fluid milk:Production on farms __ .mil. lb._Utilisation in mfd. dairy productsd" doPrice, wholesale, U.S. average $ per 100 lb__
Dry milk:Product ion :t
Dry whole milk mil IbNonfat dry milk (human food) do
Stocks, manufacturers', end of month:Dry whole milk . __ __ do _-Nonfat dry milk (human food) do
Exports:Dry whole milk doNonfat dry milk (human food) __ _ do
Price, manufacturers' average selling, nonfat drymilk (human food) $ per Ib
GRAIN AND GRAIN PRODUCTSExports (barley corn oats rye wheat) mil bu
Barley:Production (crop estimate) _ _ _ _ do
Stocks (domestic) end of Quarter total doOn farms doOff farms _ _ _ _ _ do
Exports, including maltS do. _.Prices, wholesale (Minneapolis):
No. 2, malting --$ per bu .No. 3, straight -- - do
Corn:Production (crop estimate) mil buGrindings, wet process do
Stocks (domestic), end of quarter, totalmil bu
On farms doOff farms do
Exports, including meal and flour doPrices, wholesale:
No. 3, yellow (Chicago) $ per bu_.Weighted avg., 5 markets, all grades do
Oats:Production (crop estimate) mil bu
Stocks (domestic), end of quarter, total-, doOn farms __ doOff farms _ - - - do
Exports, including oatmeal _doPrice, wholesale, No. 3, white (Chicago)
$perbu._
Rice:Production (crop estimate) mil bags 9California mills:
Receipts, domestic, rough mil. Ib _Shipments from mills, milled rice -doStocks, rough and cleaned (cleaned basis), end
of month ~ mil IbSouthern States mills (Ark., La., Tenn., Tex.):
Receipts, rough, from producers.- - _ mil. Ib -Shipments from mills, milled rice doStocks, domestic, rough and cleaned (cleaned
basis), end of month _ _ _ _ mil IbExports doPrice, wholesale, head, clean (N.O.) $ per lb__
Rye:Production (crop estimate) mil. bu__Stocks (domestic), end of quarter, total doPrice, wholesale, No. 2 (Minneapolis) _..$ per bu._
111.286. 1.606
115 378.5
318.2280 4
5.3
.387
5. 1189.0
5. 2235. 6
3.26 9
6 20
10, 1663,8784.16
7.5143.3
6.4101.6
2 123.3
.136
67 7
1 422 13 327 83 171 43 156. 4
9.8
1.191.14
i 4 28112.8
3 2, 7813 1, 5753 1,207
18.4
1.201.14
1 1, 0663 7023 618
3 84
4.0
.71
i 53 4
9962
60
285171
877126
.088
i 22. 3319.9
1.26
114.4106.5.599
123.283.0
316.8277.3
5.3
.414
5.7181.4
5.5235.7
3.58 4
6.34
10, 2433,9684.21
8.2151.5
6.4121.5
2.316.6
.137
77 5
r 1431. 33 308 43 164. 83 143. 6
7.8
1.141.06
7-13,90812.8
3 3, 0963 1,7163 1, 381
18.5
1.141.06
r l 1,1553 6723 595
2.9
.72
i 54 6
10060
100
338231
845163
.081
' 1 33. 1321.4
1.13
93.4116.0.616
110.770.2
333.0291 7
7.1
.438
6.0160.2
5.8319.2
3.211.1
6 33
9,3653.3684.57
9.0107.9
4.9110.2
1.935.1
.138
81 3
9.3
1.151.07
13.9
16.6
1.061.01
3.8
.64
21239
'147
1,334321
1,403188
.078
I. II
93.990.6.623
105.866.3
328.8287 7
8.1
.438
5.5139.2
6.3293.4
4.78 2
6 33
8,9743,2834.65
8.5106.6
5.6101.7
1.121.1
.139
86 7
7.4
1.121.02
12.4
27.8
.96
.94
1.6
(5)
6448
141
457272
1 472214
.079
1.09
108.976.8.619
119.676.2
332.6292 0
7.4
.438
4.8139.6
6.5218.3
2.514.0
6.33
9,4953,7224.59
7.8133.9
6.9103.1
.423.0
.140
86 2
354 6202 1152.5
6.6
1.131.04
11.0
4,7003,0601,64128.6
1.02.99
85176685
1.1
.66
12399
126
271344
1 322250
.081
25.61.09
121.675.7.611
122.082.8
327.6287 0
7.3
.434
6.0141.3
5.5154. 9
3.39.4
6.32
9,8594,025
4.45
7.0149.6
7.3103.1
3.219.3
.139
76 9
6. 3
1.141 04
12.2
19.6
1.101.04
1.0
.65
13077
133
148257
1 176245
.083
1.10
117.580.3.611
114 076.7
332.4293 5
6.8
.412
5.7131 3
5 1125.5
5.23 8
6 31
9,3813,8384.31
6.6148.3
6.1109.0
1.311.6
.139
94 4
7.5
1.141.05
11.9
19.0
1.131.05
2.8
.66
9771
126
126241
1 029154
.083
1.12
132. 398.0.612
139 894.7
341.1302 3
5.6
418
6.1181 2
5 783. 1
4.64 4
6 31
10, 8434 4884.18
6 8179.5
5.8104 9
1 413.4
.143
109 2
244 7126 6118 1
5.7
1.141.06
13 4
3 6552,0761 58030.1
1.111.04
556482
74
2 3
.60
10176
119
112271
843226
.084
20.11.15
135.8121.2.612
147.9106.0
368.3324 9
6.6
.422
5.6206.7
5.5111.0
4.712 9
6 32
11, 1684 6944.01
6 4194.8
5.8127 2
.910.4
.155
89 1
8.4
1.181 10
12 0
24 7
1.081.01
7
.64
5063
87
78216
616190
.085
(5)
155.2158.7.612
175.3128.7
406.9357 0
5.2
.411
7.1266.5
4.9208. 8
2.912 0
6 29
12, 2785,4983.92
8.4230.5
6.7156.0
.221.7
.158
96 3
8.4
1.191 10
13.4
23.9
1.131.07
2 8
.68
7651
85
53204
455203
.085
1.13
153.8217.8.612
175.9132.1
452.8400.3
7.5
.408
5.8252.4
7.4319.6
3.911 8
6 29
11,9415 4443.86
7.6233.8
10.7157.2
2 832.3
.159
76 7
*151 54 64 24 87 4
4.5
1.211 12
13 8
2 8091,4391 36921 4
1.121.08
4 3244 267
4 57
1 1
.66
8869
77
46126
38565
.087
4 14.11.12
130.0249.8
.612
148 1110.0
481.9424 0
3.9
.408
5.5213 9
6 8353.5
4.48 5
6 29
11,0144 5934.03
5 8182.6
8.3176 4
1 626.9
.158
80 0
3.7
1.451 33
12.7
17.2
1.141.10
1 6
.72
11470
83
24156
25296
(5)
1.22
108.5256.5
.614
133. 797.6
511.0448 4
5.8
.410
6.0188.6
6.9367.2
3.510 5
6 29
10, 2633 9544.17
6 1142.4
6.6152 1
2 027.3
.160
r 78 4
2.2
1.431.35
14.6
r23 4
1.121.08
6
.68
12970
97
1581U2
°5857
.085
1.21
94.1238.4
.614
118 883.0
501.2442 2
6.0
.413
5.4158. 9
6.7364. 5
3.44.5
6.29
9, 6173,4424.38
5.7116.2
5.7132.5
1.328.1
.159
'81.4
424.1232.2191.9
4.2
1.471.40
13.4
* 1, 9984 569
< 1. 429r24. 5
1. 101.C6
957844113
r 4.2
.68
»"7868
80
769154
62051
.084
28.91.24
110.4r 230. 7
.613
119 079.6
' 490. 5T 432 6
6.0
.415
5.9137.5
6.8336.2
2.75. 1
6.29
9,6083, 756'4. 51
7.9134.6
5.5126.8
1.119.0
.161
99.6
3.3
1.481.42
14.1
23.8
1.091.06
1 6
.67
98P. 089
1.30
225.2.611
469. 6419 4
.414
9,211
P4.53
2 393. 4
1.461.40
2 3 62413.6
1.101.09
2 1 013
.71
2 53 6
2 27 3
1.32r Revised. v Preliminary.* Crop estimate for the year. 2 Dec. 1 estimate of the 1961 crop. 3 Quarterly average.4 Old crop only; new crop not reported until beginning of new crop year (July for barley,
oats, rye, and wheat; Oct. for corn). • No quotation.
{Revisions for 1960 appear in the Oct. 1961 STIRVEV.c?Revisions for Jan. 1955-July I960 are available upon request.§Exeludes a small amount of pearl barley.9 Bags of 100 Ib.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-28 SURVEY OF CURRENT BUSINESS December 19<>1
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 | 1960
Monthlyaverage Oct.
1960
Nov. Dec. Jan. Feb. Mar. Apr. May
1961
June July Aug. Sept, Oct. Xov.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
GRAIN AND GRAIN PRODUCTS— Con.
Wheat:Production (crop estimate) total mil bu
Spring wheat doWinter wheat do
Distribution (quarterly total) do
Stocks (domestic), end of quarter, total d o _ _ _ _On farms doOff farms do
Exports, total, including flour doWheat only _ _ _ d o
Prices, wholesale:No. 1, dark northern spring (Minneapolis)
$ per b u _ _No. 2, hard winter (Kansas City) doNo 2. red winter (St Louis) _ do_ _.Weighted avg., 6 markets, all grades do
Wheat flour:Production:
Flour, thous. sacks (100 lb . )__Operations, percent of capacityOffal thous sh tons
Grindings of wheat thous buStocks held by mills, end of quarter
thous sacks (100 Ib )Exports doPrices, wholesale:
Spring, standard patents (Minneapolis)$per!001b__
Winter, hard, 95% patents (Kans. City). .do
LIVESTOCK
Cattle and calves:Slaughter (federally inspected) :
Calves thous. animals _Cattle _ do_.
' Receipts, principal markets doShipments, feeder, to 8 corn-belt States doPrices, wholesale:
Beef steers (Chicago) $ per 100 IbSteers, stocker and feeder (Kansas City)__doCalves, vealers (Natl. Stockyards, 111.).- do. -
Hogs:Slaughter (federally inspected). ..thous. animals _Receipts, principal markets - do ._.Prices:
Wholesale, average, all grades (Chicago)$per 1001b__
Hog-corn price ratio (bu. of corn equal in valueto 100 Ib live hog)
Sheep and lambs:Slaughter (federally inspected). ..thous. animals. -Receipts, principal markets. _ . .. . - do.Shipments, feeder, to 8 corn-belt States do, .Prices, wholesale:
Lambs, average (Chicago) $ per 100 lb_.Lambs, feeder, good and choice (Omaha) .do
MEATS
Total meats:Production (carcass weight, leaf lard in) , inspected
slaughter mil IbStocks (excluding lard), cold storage, end of
month mil. IbExports (including lard) . ,_, ..doImports (excluding lard) _ _ _ _ _ do _
Beef and veal:Production, inspected slaughter doStocks, cold storage, end of month do _ -Exports doImports doPrice, wholesale, beef, fresh, steer carcasses, choice
(600-700 Ibs.) (New York) $ per lb._Lamb and mutton:
Production, inspected slaughter mil. Ib .Stocks, cold storage, end of month do
Pork (including lard) , production, inspected slaugh-ter - _ _ _ _ _ mil. Ib
Pork (excluding lard) :Production, inspected slaughter doStocks, cold storage, end of month __doExports - _ doImports . do _ _Prices, wholesale:
Hams, smoked, composite $ per lb__Fresh loins, 8-12 Ib. average (New York) .do
Lard :Production, inspected slaughter.. _ _ _ _ ..mil. Ib -Stocks, dry and cold storage, end of mo doExports _ doPrice, wholesale, refined (Chicago) $ per lb_.
1 1, 127*203*9243 270
3 1,7113 295
3 1,416
35.029.8
2.262.021.932.20
20, 88191.2392
47, 5713 4. 666
2 273
5.5345. 061
4061,4551, 860
536
27.5325. 6132.00
5. 7262,896
14.12
13.2
1,1221,082
255
20.9319.32
2,023
5318081
919.8183.2
2.352.2
.473
53.713.6
1, 049. 2
786.0268. 5
5.914.6
.478
.448
192.4119.850.3.117
1 1,357' *247U,!!!
3 2953 1 , 822
33183 1, 504
48.042.0
2.212.02
c 1.952.17
21,26292.4402
48, 5603 4, 443
2 613
5 3224.992
4381, 6161, 845
506
25. §322.9328.50
5, 5132,577
15.50
15.3
1,1701,044
291
19. 2618.26
2,066
5258763
1,005.4173.4
2.440.9
.451
55.612.2
1, 005. 3
762. 4271.1
5.814.3
.472
.471
177.3119.151.7.125
50.845.3
2.161.991.952.15
23, 496103.6
44053, 610
2,397
5.3305.090
5161,7462,6051,319
24.8321.5925.50
5,4072,451
17.04
16.9
1, 3531,507
616
16.5015.98
2,110
40210356
1,074.1182.7
2.936.3
.421
62.112.3
974.2
744.6143.9
6.413.8
.472
.525
167. 472.457.9.133
49.642.2
2.152.01(5)2.13
22, 37498.6417
50, 837
3,227
5.3035.033
5021, 6252, 086
884
26.0022. 5428.00
5,7072, 597
17.06
19.2
1,1921,005
215
16.5015.95
2,112
4107843
1, 002. 4182.2
3.124.8
.438
56.612.4
1,053.4
808.5153.6
7.213.5
.476
.505
178.883.433.0.140
276
2, 067421
1,646
49.841.0
2.142.022.072.14
21,80095.9406
49, 585
4,7093,818
5.3285.050
4511, 5761,634
541
26.6123.6130.00
5,7532,615
16.68
18.1
1,114889184
16.5015. 78
2, 100
4238951
977.2183.5
2.628 6
.459
54.112.4
1,069.2
816.2170.2
6 613.4
.526
.489
184.493.549 4.131
49.744.8
2.152.042.142.14
22, 67899.4
42251, 542
2,127
5.2805. 017
4271,6321,826
476
27.0224.2933.50
5,7442,586
16.82
17.1
1,3001,003
177
17. 2516. 59
2 154
4447559
1.035.0168.2
3.034 5
.476
65.012.3
1,053.9
804.3200.4
7.314.6
.491.490
182.8114. 340 5.135
64.457.1
2.152.052.132.12
21, 28898.4393
48, 251
3,200
5. 3155.050
3851,4351,397
311
25. 8423.7036.50
5,0782,234
17.74
17.6
1,117835128
17. 2516. 96
1,879
4707450
908.9157.0
2.831.0
.458
57.111.8
913.4
696.2235. 6
6.712.7
.487
.490
158.9112.440.0.158
366
1, 705256
1,449
70.361.3
2.152.022.112.13
22 72291.0418
51,499
4,8803,918
5.3355.033
4571,6271,629
402
25. 3224. 5032.50
6, 1102,530
17.26
16.9
1,311938119
16.5016. 65
2,211
4776971
1,042.4153.4
2 442 6
.444
66.917.6
1,101.4
840.2243.7
4 617.6
.486
.457
191.5141.233 9.158
54.048.9
2.172.00(5)2.16
18, 74486. 1346
42 492
2 219
5.4335.050
3781,5021,541
371
24 7324.3830.00
5,0482,248
16.90
17 5
1,247988157
15.2515. 75
<• 1 947
5295880
c 953. 5166.4
2 653 5
.434
63.022.0
930 0
700.7269.8
4 912 6
.459
.456
166 7153.126 1.143
59.752.7
2.221.961.782.18
20,79087 0386
47,211
3 030
5.4735.033
3811,7541,751
339
23 0923.0628.50
5,5972,569
16.19
15 7
1,3581,152
212
18.7514.04
2 245
5237963
1,120.3164.4
2 641 6
.415
65.524.3
1,059.1
793.1268. 6
3 912.2
.456
.456
193. 5149.141 0.138
2964 1,411
4 1364 1, 275
49 245.4
2.271.921.902.21
20, 38185 1380
46 276
4,2671 645
5.5705.050
3641 7851,560
274
22 3021.8126.00
5,0932,363
15.91
15 2
1,252864142
19.2514.95
2 171
4967893
1,132.9165 9
2 567 6
.400
57.426.0
981 2
729.1239.8
6 414 4
.440
.470
184 1149.631 9.121
57.450.6
2.341.981.872.11
20, 78291 0390
47, 310
2,954
5.5985. 217
3411,6281, 573r 249
22 2321.7025.50
4,3202,056
16.60
15 7
1,126860
r 192
17.7514.44
1 898
4449492
1, 032. 3168. 7
1 967 3
.391
50.624.8
814 8
612.6189.1
6 014 0
.450
.514
148 5126.949 0.125
' 52. 1'46. 1
2.302.041.972.34
23,81094.7451
54,454
'2 628
5.6255.334
4211, 8031,847
T 465
24 0122.9428.00
5, 1142 308
17.19
16 5
1,2901 052'367
17.7514.01
2 117
39265
105
1, 130 0175 5
2 483 9
.410
57 623.0
929 6
710.7107.0r 5 2
13 2
.466
.488
159 0114.122 1.125
281
2,304454
1, 850
'48.1'44.5
2.382.071.942.41
'21,11296.5
3Q8'48,118
4,7391, 536
' 5. 6605. 333
4561,7121,864'720
24 2122.61
r 28. 50
5, 2402 294
17.69
16 8
1,2861 368'630
16. 6214.66
2 Q63
3816280
1 072 1178 8
2 857 7
.410
57 721.0
933 3
713 7128.3
5 813 3
.464
.497
160 199.521 8.130
70.264.8
2.402.081.872.36
23, 06395.8431
52, 480
2 344
P 5. 666p 5,318
5111,8172,5711,300
24 4622.97
P 30. 48
6,2232 759
16.79
16 1
1,4121 585
557
16.2514.20
2 314
r 3979389
1 136 1r 182 7
2 463 2
.419
64 2'19.7
1 113 7
850 7' 136. 4
5 616 6
» 462. 506
191 790.434 4
P. 123
1 235158
1 076
2.422.12(5)2.40
25 4423.03
15.94
16 7
16. 0013.95
491
215 1
.428
19.3
194.9
.467
r Revised. P Preliminary. c Corrected.1 Crop estimate for the year. 2 Dec. 1 estimate of 1961 crop. 3 Quarterly average.
4 Old crop only; new grain not reported until beginning of new crop year (July for wheat).5 No quotation.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
SUKVEY OF CURRENT BUSINESS S-29
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
POULTRY AND EGGSPoultry:
Slaughter (commercial production) t mil. l b _ _Stocks, cold storage (frozen), end of month
doTurkeys do
Price, in Georgia producing area, live broilers$per lb__
Eggs:Production on farms mil cases O -Stocks, cold storage, end of month:
Shell thous. casesO__Frozon _ _ . mil. l b _ _
Price, wholesale, extras, large (delivered; Chicago)$ per doz_.
MISCELLANEOUS FOOD PRODUCTS
Cocoa (cacao) beans:Imports (incl. shells) thous. Ig. tons__Price, wholesale, Accra (New York) $ per lb._
Coffee (green):Inventories (roasters', importers', dealers'), end
of quarter thous. bagscf _ _Roastings (green weight) quarterly total doImports do
From Brazil _ _ _ _ doPrice, wholesale, Santos, No. 4 (New York)
$por lb_.Confectionery manufacturers' sales -- mil. $
Fish:Stocks, cold storage, end of month mil. lb__
Sugar:Cuban stocks, raw, end of month
thous. Spanish tons. _United States:
Deliveries and supply (raw basis):Production and receipts:
Production thous. sh. tons_.En tries from off-shore total 9 do
Hawaii and Puerto Rico do
Deliveries, total doFor domestic consumption _ doFor export and livestock feed do
Stocks, raw and refined, end of month_doExport^ sh. tons _Imports'
Raw sugar: total? thous. sh. tons__From Cuba doFrom Philippine Islands do _ .
Refined sugar, total do__ -From Cuba do
Prices (New York):Raw, wholesale $ per lb._Refined:
Retnill $ per Sib-Wholesale (excl. excise tax) $ per lb__
Tea, imports _ thous. lb_..
Baking or frying fats (incl. shortening):Production mil. Ib _Stocks (producers' and warehouse), end of month
mil lb__Salad or cooking oils:
Production _ _ doStocks (producers' and warehouse), end of month
mil. l b _ _Margarine:
Production _ doStocks (producers' and warehouse), end of month
mil. lb__Price, wholesale (colored; mfr. to wholesaler or
large retailer; delivered) $ per lb_ -
FATS, OILS, AND RELATED PRODUCTS
Animal and fish fats: ATallow , edible:
Production (quantities rendered) mil. lb_ _Consumption in end products _ ._ do _ _Stocks (factory and warehouse), end of month
mil. l b _ _Tallow and grease (except wool), inedible:
Production (quantities rendered) _.doConsumption in end products doStocks (factory and warehouse), end of month
mil. lb—Fish and marine mammal oils:
Production _ doConsumption in end products ._ _ _ d o _ _ .Stocks (factory and warehouse), end of month
mil.lb-T Revised. v Preliminary.
496
270123
.153
14.7
495103
.312
18.0.362
1 2, 8321 5 494
1 932880
. 37696
195
2, 506
235536161
773765
81,561
555
33823779
4131
.062
.551
.0869,140
187.7
120.3
146.3
50.2
134.3
35.2
3.250
26.823.7
26.3
265. 2147.9
315.2
15.87.7
120.1
512
249135
.162
14.2
474111
.372
20.5.286
i 3. 1 08i 5 474
1,839770
.369100
191
2, 640
256463145
778772
61, 750
401
35516088
3624
.063
.553
.0879,598
192.7
115. 2
147.4
51.4
141.3
35.4
27.724.6
25.2
252. 1151.6
319. 3
16.58.4
93.4
718
414282
.151
13.0
269114
.493
15.3.295
2,078784
.368'130
'223
2,086
651145134
704700
51,365
291
1970
42
231
.064
.571
.0908,050
205.1
117.9
138.9
42.6
150.3
32.9
.235
28.027.6
24.7
249.6161.5
339.6
22.78.3
96.0
638
353210
.149
13.1
9687
.523
15. 5.293
1,826546
. 365128
237
1,661
868112
59
685683
21,946
193
3520
46
9(2)
.065
.571
.0907,845
193.5
105.2
140.7
42.8
148.4
31.4
.235
30.728.3
24.8
257. 8151.8
330.8
9.08.5
87.1
518
301160
.148
14.0
7664
.447
21 . .5. 2.55
3, 2045 7741,828
730
.366110
230
1,335
7688241
721717
42,327
276
2760
35
6(2)
.064
. 589
.0889, 710
186. 9
120.3
156. 1
57. I
158.3
32.6
.245
27.224.7
26.4
251.8147. 0
304.8
7.88.5
84.3
477
298169
.155
14.3
8054
. 370
33.3. 228
1 . 9,51621
.368106
204
1,415
28936283
630626
42, 337
262
2180
57
70
.064
.573
.0888,993
199. 1
106. 1
172.4
73.2
175. 3
35. 3
. 247
30.026.1
24.9
261.1141.9
338.4
.59.3
84.2
OC
378
268152
.170
13.5
4949
.387
31.0. 226
1.717642
.369106
172
2,325
51173118
651646
52.209
352
3370
104
80
.063
.573
.0887,734
209.9
101. 1
159. 4
110.6
155.9
35.9
.257
34.933.8
24.2
249. 9136.6
347.1
.38.4
85.6
ases of 30
460
229126
.163
15.7
4954
.353
32.5. 205
2, 9655 9^82. 234
841
.378103
157
4, 280
48125140
765758
62.124
389
4710
164
210
.062
.574
.08810, 630
211.8
119.0
184.5
157.8
139.2
42.8
.267
35.529.5
26.3
290.5150.6
348.5
.59.4
73.3
dozen.
491
206108
.148
15.3
7867
.325
39.3.229
1,771749
.37387
150
4,215
88739308
686681
52, 012
457
2170
117
120
.062
.573
.0878,997
188.6
132.7
162.4
181. 9
128.8
34.5
.267
34.829.3
25.5
275. 4145.8
333. 7
3.39.7
71.8
cTBag
602
18894
.135
15.4
23892
.308
39.8.230
1,712519
.37588
158
4,430
55474332
969962
71,785
375
3300
141
200
.065
.573
.0879,331
205.8
139.1
183.8
190. 7
138.7
40.5
.275
41.330.6
31.2
308.8150.1
349. 8
32.810.9
92.3
3 of 132.2
632
209106
.120
14.2
365113
.326
43.2.215
3, 1455 3212,048
669
.37880
170
4,365
44296215
831822
91, 559
591
3270
120
150
.065
.574
.0887,699
185.9
128.1
170.4
153. 7
132. 9
45.4
.275
37.030.6
31.0
310.4155. 4
329.1
47.211.3
108.9
76 lb.
629
244128
.118
13.9
314113
.347
48.4.223
1,632481
.37565
189
4,490
45310209
876866
101,387
608
4300
138
190
.064
.580
.0878,830
138.0
102. 6
171.8
174.2
123. 5
36.6
.275
31. 527.2
33.5
280.5106.0
371.0
56.610.0
155.7
725
318189
.123
13.5
280108
.366
30.5.213
1,776776
.36590
199
3, 725
93318242
1,003992
111,131
592
3890
145
310
.060
.573
.0878,914
220.6
107. 3
173.3
142.7
130.5
35.6
.270
39.638.7
29.7
318.4152.2
374.6
49.18.9
' 161.4
734
416270
.110
13.0
225100
.399
16. 6.215
3.2115 1631,864
899
-.353' 138
'204
3,225
105203183
917911
6'885
1,124
3160
95
'60
.061
.561
.0868,136
203.6
111.4
161. 5
137.6
146.8
39.4
.270
34.733.5
25.2
290.3146. 5
383.1
'24.2'8.2
' 179. 7
860
' 550'382
.113
13.6
145'86
.410
10.3.226
1,934797
.340141
'207
2,725
11482
P 1,220566
3580
97
160
.062
p. 08410, 644
233. 4
112. 8
172. 3
152. 0
157. 3
40.2
v .270
36.033.3
23 9
306. 3149. 0
395.2
12.98.0
174.0
489319
.114
13.6
8270
.375
.245
.341
207
1,245
.062
J Quarterly average. 2 Less than 500 tons.3 Not entirely comparable with prices beginning Sept. 1960 which are based on a different
specification.JRevisions for Jan.-Aug. 1960, are shown in the Oct. 1961 SURVEY.
9 Includes data not shown separately. § Price for New York and Northeastern NewJersey.
AFor data on lard, see p. S-28.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
^30 SURVEY OF CURRENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1861edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
FOOD AND KINDRED PRODUCTS; TOBACCO—Continued
FATS, OILS, AND RELATEDPRODUCTS— Continued
Vegetable oils and related products:Vegetable oils (total crude and refined):
Exports mil. lb._Imports do
Coconut oil:Production:
Crude doRefined - do
Consumption in end products doStocks, crude and refined (factory and ware-
house) , end of month mil IbImports do
Corn oil:Production:
Crude doRefined do
Consumption in end products do _Stocks, crude and refined (factory and ware-
house), end of month mil Ib
Cottonseed cake and meal:Production thous sh tonsStocks (at oil mills), end of month do
Cottonseed oil:Production:
Crude mil IbRefined do
Consumption in end products doStocks, crude and refined (factory and warehouse) ,
end of month mil IbPrice, wholesale (drums* N Y ) $ per Ib
Linseed oil:Production, crude (raw) mil IbConsumption in end products doStocks, crude and refined (factory and warehouse) ,
end of month mil 11")Price wholesale ( Minneapolis) $ per Ib
Soybean cake and meal:<|Production thous. sh. tons..Stocks (at oil mills) end of month do
Soybean oil:Production:
Crude mil.lb..Refined do
Consumption in end products doStocks, crude and refined (factory and warehouse),
end of month mil IbPrice wholesale (refined' N Y ) $ per 'b
TOBACCOLeaf:
Production (crop estimate) mil IbStocks dealers' and manufacturers', end of quar-
ter total mil IbExports incl scrap and stems thous IbImports incl scrap and stem15 do
Manufactured:Production total doConsumption (withdrawals):
Cigarettes (small):Tax-free millionsTaf-paid do
Manufactured tobacco and snuff, tax-paid
Exports cigarettes millions
131.844.7
37 232.150.0
49.916 4
26.825.625.4
29.1
190 4120 8
140.6106 291 2
T 338 5
40. 632 0
128 6131
782. 993 8
362. 0285 2275 0
433 0
2 1 796
4 4 66938 80112 640
14 639
0 98637 807
539
14 3091,631
142.443.9
41 333 349 8
1321 913 0
27 525 726.3
35 2
207 8172 4
151 4121 4102 1
384 4151
30 630 0
110 8131
762. 6104 3
366. 0981 7276 1
467 519Q
r2 1 944
4 4 57341 26413 302
14 442
3 08339 178
543
14 1481,686
71.247.6
45 836.353.1
321.215 6
28 027 629.3
37.9
352 2167 9
257 5160 7109 0
32? 6148
45 031 7
80 6194
821. 09° 8
391.3971 8275 3
366 3133
81,10314 341
14 910
3 49139 836
577
14 5431,939
138.340.2
44.835.448.0
328.516 1
26.825.129.2
33.4
345.7199.7
249. 0176 7112 2
389 6. 156
38.625 8
92 9123
857. 9II9 5
404. 5279 5263 5
440 0144
84, 58712 340
14 649
3 20640 390
671
14 5041,989
156. 048. 1
46 230 042.6
338. 616 3
24 224 325.3
33.2
287 5197 8
205 8159 4113 7
425 8.159
26.1°5 5
90 9195
883. 7102 3
414. 29Q5 1983 6
466 4143
4 78444, 57412 597
12 380
9 99733 793
365
I9 3721,967
129.938.7
50 631.445.3
357.913 8
25 627.924.9
32.8
309.8227.2
223.8172 9119.7
433 5. 170
33.326 4
104 3126
891.6130 0
418.739t) 0310 9
517 4153
22. 42314 162
14,456
3,08338 916
475
13 9911,733
86.846.5
37 229.943.8
340.312 5
24.624.525.2
32.7
247.4239.6
179.0149 0118.6
463. 4.180
30.827.3
106. 7130
796. 5163 6
377.6298 5280 8
537.2164
24, 67415,061
13, 053
2,85437, 447
441
12 6°61,606
49.441.0
33 735.251.4
339.86 6
27. 126.526.8
36.4
224.9272.0
163. 5166 9128. 6
447.6.184
31.432.6
105. 1131
801. 7178. 4
381.1319 5296. 1
624.7173
4,67128, 74013,231
15 916
3, 649
42 354523
15 5541,921
149.136.2
29 737 954.0
316 66 7
28 126 324.8
36.5
189 3270 5
137.7138 2107 8
432 6.194
36.435 2
103.2131
758. 9216 3
302. 9291 2261 8
675 8174
25, 11014,048
14, 076
3,17337 151
482
13 6601,886
72.245.4
43 943 962.6
306.411 4
29 525.325.7
42.9
138 1245.5
100.8118 6108 6
379 1.201
41.735 3
104 3131
781.1212 5
377. 0313 3289 5
710 0169
23, 64715,484
15,707
3,45944, 353
602
15 5561,926
121.030.5
38 045.260.9
289.05 2
30.025.825.4
40.5
85.0196.9
60.480 0
102.5
313.1.184
34.838.0
94.3137
734.7195.3
352.8270 2266.5
761.9156
? 4, 27027, 28314,649
15,853
3,68544, 036
536
15 3391,862
84.456.2
45 938 750.9
295.717 4
26 924 124.7
40.5
66 6142 6
48. 155 986 5
249 8.195
33.737 5
90.6158
716.8201.6
345. 1230 3237. 8
773.2. 151
28, 08712, 452
11, 326
2,81935, 922
533
12 0471,913
99.748.8
47 047 263 2
294 315 6
30 731 531.1
35.1
68 689 4
48.947 8
105 4
182 8.191
37.935.7
87.4. 153
692. 4171.1
333.9291 9280.3
765. 6. 153
36,61515,931
16, 391
3 59S47, 166
593
15 8891,644
56.450.9
44 837 551.1
300.812 1
29 129.030.5
33.2
149 673.3
109.463 290 3
170 4' - .194
40.733.0
96.8r . 149
529. 771.9
253. 3284. 0202 5
677.2. 148
r 4, 53781, 76213.071
15. 638
3,10039, 584
549
14,9311,970
107.061 3
45 743 058 9
295 322 2
°8 226 531.5
25.3
341 296.7
256. 0161 1117.3
245 0p . 179
34. 030. 1
98.3P . 152
832. 462. 1
393. 9294. 6309.2
735. 0P . 149
90.31614,048
1,872
32,023
LEATHER AND PRODUCTS
HIDES AND SKINSExports:
Value, total 9 thous. $..Calf and kip skins thous. skins..Cattle hides thous. hides..
Imports:Value, total 9 - thous. $__
Sheep and lamb skins thous. pieces..Goat and kid skins do
Prices, wholesale (f.o.b. shipping point):Calfskins, packer, heavy, 9^/151b $per lb__Hides, steer, heavy, native, over 53 Ib do
LEATHERProduction:
Calf and whole kip. ................ thous. skins..Cattle hide and side kip ..-.thous. hides and kips..Goat and kid. ...................... thous. skins..Sheep and lamb ____________________________ do.
Exports:Glove and garment leather ......... thous. sq. ft_.q.
doUpper and lining leatherPrices, wholesale:
Sole, bends, light, f.o.b. tannery ________ $per lb__Upper, chrome calf, B and C grades, f.o.b. tan-
nery ................... . ........... $ per sq. ft.,
5,234159340
7,2692, 8562,118
.658
.193
5481,9311,9002,671
1,7232,909
.855
1.342
6,367177574
5,8862,3081,605
.561
.139
5281,8311,5702,540
2,8793,449
.703
1.319
6,962248646
4,9551,6651,288
.550
.138
5891,9001,3712,502
4,2774,149
1.313
8,793183921
3, 8561,0881,278
.550.133
6171,9341,3382,843
3,8984,168
.663
1.313
7,106253
3,936980
1,126
.575.128
5931,8151,1832,367
4,4033,875
.673
1.353
7,849233740
4,4231,7751,246
.575
.118
5621,8201,3442,354
3,7384,274
.677
1.373
6,496279605
3,407804
.575
.113
5611,7891,0712,442
4,9934,351
.673
1.387
390837
7,3045,1271,338
.625
.143
5281,9761,2642,567
5,611
.683
1.400
6,456256523
5,8603,3841,171
.625
.143
4961,8701,1752,473
5,1584,292
1.417
6,350172569
5,8322,6481,341
.650
.148
5561,9561,4203,008
6,0174,258
.697
1.443
6,041179537
6,2382,7561,736
.143
5891,9741,4622,850
5,5044,336
.697
1.443
7,537193
6,6823,1821,465
.625
.159
3411,5341,0302,209
5,0404,241
.700
1.363
• 7,335169
••633
4,3961,6591,277
.650
.178
5672,0751,0483,161
5,3884,007
.735
• 6,406190
5, 5762,5451,081
.650
.178
4921,8551,1112,635
5,5994,895
.740
1.398
7,194139594
5,1391,9231,115
P . 675P . 163
6,1744,430
P . 740
P 1. 412r Revised. » Preliminary.i Average based on 9 months (Apr.-Dec.). 2 Crop estimate for the year.3 Dec. 1 estimate of 1961 crop. 4 Quarterly average.
9 Includes data for items not shown separately.1 Data formerly shown in rail. Ib.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1061 SURVEY OF CURRENT BUSINESS S-31
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
LEATHER AND PRODUCTS—Continued
LEATHER MANUFACTURES
Shoes and slippers:Production, total thous. pairs
Shoes, sandals, and play shoes, except athleticthous pairs
Slippers for house wear _ doAthletic doOther footwear do
Exports - - __ __ doPrices, wholesale, f.o.b. factory:
Men's and boys' oxfords, dress, elk or sideupper, Goodyear welt 1947-49=100
Women's oxfords, elk side upper, Goodyearwelt 1947-49=100
Women's pumps, low-medium quality do
53 114
45 3486,558
641566
242
130 8
142 4129.2
49 870
42, 5896,216
584482
199
134.7
146.7133.7
47 476
37 8128,510
601553
241
133. 5
146.7133.7
45 652
36 1948,301
588569
210
133.5
146.7133.7
43, 023
37, 9563,949
530588
134
133.5
146.7133.7
50 659
46, 8093, 115
439296
129
133.5
146.7134.8
50 305
46 2413,328
432304
191
133.5
146.7134.8
57 561
51 5974,915
573476
252
133.5
146. 7134.4
47, 021
41 2444, 795
524458
179
133.5
146 7134.4
48 670
42 2115 490
528441
135
133 5
146 7134.4
50, 088
42, 5546, 235
695604
169
133.5
146.7134.4
42, 157
36, 7784,682
302395
139
133.5
146.7134.4
57, 146
47 6128, 483
468583
202
133.5
147. 1134.4
47, 646
38, 1248, 526
444552
184
133.5
147.1134.4
51 842
41 0599, 696
502585
210
p 133. 5
v 147. 1v 135. 1
LUMBER AND MANUFACTURES
LUMBER— ALL TYPES
National Lumber Manufacturers Association:Production, total! mil. bd. f t - _
Hardwoods doSoftwoods do
Shipments, total!- ._ doHardwoods doSoftwoods do
Stocks (gross), mill, end of month, totalt-.cloHardwoods doSoftwoods _- do
Exports, total sawmill products - ..-doImports, total sawmill products _ . _ d o - . _
SOFTWOODSDouglas fir:!
Orders, new _ _mil. bd, ftOrders, unfilled, end of month. _ _ do __Production _ doShipments doStocks (gross), mill, end of month do
Exports, total sawmill products doSawed timber doBoards, planks, scantlings, etc- do
Prices, wholesale:Dimension, construction, dried, 2" x 4", R. L.
$ per M bd. ftFlooring, C and better, F. G., I" \ 4", R. L.
$ per M bd. ftSouthern Pine:
Orders, new! mil. bd. ftOrders unfilled, end of month doProduction t doShipments! doStocks (gross), mill and concentration yards, end
of month mil bd ftExports, total sawmill products M bd ft
Sawred timber doHoards, planks, scantlings, etc _ do
Prices, wholesale, (indexes):Boards, No. 2 and better, 1" x 6", R. L.
1947-49=100Flooring, B and better, F. G., 1" x 4", S. L.
1947-49 = 100—Western pine:
Orders, newt - - mil bd ftOrders, unfilled, end of month.. _doProduction! _ _ doShipments! doStocks (gross), mill, end of month! do. _Price, wholesale, Ponderosa, boards, No. 3, I" x
12" R L (6' and over) $ per M bd ft
HARDWOOD FLOORING AND PLYWOOD
Flooring:Maple, beech, and birch:
Orders, new mil bd ftOrders, unfilled, end of month doProduction doShipments _. _ _ _ doStocks (gross), mill, end of month do
Oak:Orders, new doOrders, unfilled, end of month _ doProduction doShipments doStocks (gross), mill, end of month ___ do
Plywood (except container and packaging), qtrly.total:
Shipments (market) mil sq ft , surf meas
3, 114558
2 556
3, 102555
2 547
6, 9501 9115, 039
66340
759643757750915
251411
575240573575
1,7436, 5281,2905, 238
118 1
94.7
822422827825
1,658
78 41
3 412.33 33.4
10.4
81.657.582 981 871.6
244 2
2,874513
2 361
2, 803505
2 298
7, 8801,9165, 964
72328
666533696691
1, 140
321715
81.13
U30.03
517191548518
2, 0477,7941,9625, 833
113 5
94.5
719359747725
1,957
74 86
3 211.63 03.19.7
69.038 573 270 695.6
212 6
2, 775549
2 226
2 675495
2 180
8,2152 0236, 192
69332
615426623629
1,124
291316
79.05
128.68
521167550528
2,1157,0422,3754,667
108 9
93.6
673322713699
2,116
69 65
2 510.23 03.08.2
65.932 574 370 994.6
2, 524509
2 015
2,440466
1 974
8,2992 0666,233
62312
618436598608
1,114
261914
78.37
128. 25
479162530484
2,1616, 136
9035,233
107.2
93.4
569308587584
2,119
69.56
3.010.53.12.78.6
59.629.070 065.199.2
2,229431
1 , 798
2,320424
1, 896
8,2072 0736, 134
69258
57(5412553600
1 , 066
281612
78.81
127.40
447165446444
2,1635, 8331,5214,312
107.1
93.4
630332565606
2,078
68. 75
2.910.62.82.68.8
53.526.462.454.8
106.8
192.5
2,255400
1 855
2, 262410
1, 852
8, 2012, 0636, 138
50250
501422618551
1,134
241212
77.68
127.40
481196452450
2,1654, 725
6864,039
105.7
92.7
590342512580
2,010
70.16
3.011.02.92.59.3
57.327.962 756.8
112.7
2,302421
1 881
2, 257428
1 829
8, 2462 0506, 190
53262
550445580527
1,187
218
13
76.98
126.96
440209430427
2,1685,0811,1863,895
103 9
92.5
569321580590
2,000
70 22
3 011.42 62.79.3
54.330.356 653 5
114 8
2, 688404
2 284
2. 844452
2 392
8. 0892, 0086,081
62340
876580708735
1, 159
291117
78. 23
1 25. 64
605278549596
2,1215, 242
7834, 459
105 2
92.5
865489671695
1,976
69 72
3 411.43 03.09.3
83.243.566 670 3
110.3
2, 585330
2 255
2, 760384
2 382
7, 9091,9545, 955
50335
636529601094
1, 127
218
14
81.36
126.06
550290522538
2,1055, 065
8334,232
106 6
92.4
749455
' 722784
1,914
69 89
3 812.52 82.79.3
68.547.360 768 5
100.4
2,984381
2 603
3, 030404
9 632
7, 8581 9315, 927
87438
698491757736
1, 149
241310
80.01
125 36
5912566136?5
2 0937,3421 1166,226
106 9
92.8
812388843879
1,878
73 37
3 412.83 13 29.2
62.041 273 670 0
102 3
2, 864388
2 476
2, 905407
2 498
7.8171,9125, 905
08397
728505723714
1, 158
261313
79.42
124.05
548227579577
2 0956, 5561,7004,856
106 8
92.8
775355780807
1,851
73 77
3 512.03 24.38.2
63.935 470 870 699.3
2,476381
2 095
2, 563404
2 159
7,7311, 8895, 842
61406
594499537600
1,096
209
11
79.52
124. 05
522213519
536
2 0715,070
7684,302
106.7
92.3
723372732706
1,877
72.14
3 212.02 83.07.8
59.334 358 662 195 8
3,047377
2 670
3.010423
2 587
7, 7601 8415, 925
73431
678400711711
1,090
221012
79.90
123. 01
032225000620
2,0518, 4053 5494,916
106.8
92.1
809324942857
1,962
68 81
3 111.03 73.77.8
77.336.875 374.896.4
2,829398
2 431
2,784438
2 340
7,8101 £016, 009
00372
583424038025
1,108
231211
r 78. 95
••122. 59
578221501582
2, 0303 902
9053, 057
106.9
92.3
770317858777
2, 043r 68. 88
3.210.93.42.98.0
68.137.866.768.393.4
2,842424
2 418
2,814421
2 393
7,8091 8046, 005
60398
658446638035
1,082
221111
p 76. 87
P121.71
595211585605
2,0105,500
9044,596
v 106. 9
P92.3
794330806782
2,067
P 66. 81
2.910.63.43.38.2
65.834.370 569.394.5
• Revised. v Preliminary.1 Average for 9 months (Apr.-Dec.),
{Revisions for 1959-1960 appear on p. 24 of the Nov. 1961 SUBVEY; revisions for 1948-1958for stocks, all types of lumber, and for Western pine stocks are available upon request.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
-32 SURVEY OF CURRENT BUSINESS 10P.T
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
METALS AND MANUFACTURES
IRON AND STEEL
Foreign trade:Iron and steel products (excl. advanced rafs. and
ferroalloys):Exports, total? thous. sh. tons..
Steel mill products doScrap do
Imports, total 9 -- -- - .. doSteel mill products doScrap .__ . ._ do
Iron and Steel Scrap
Production and receipts, total thous. sh. tons..Home scrap produced doPurchased scrap received (net) _ do
Consumption, total doStocks consumers' end of mo do
Ore
Iron ore (operations in all U.S. districts):Mine production thous. Ig. tons__Shipments from mines loImports lo
U.S. and foreign ores and ore agglomerates:Receipts at iron and steel plants loConsumption at iron and steel plants loExports 3oStocks, total, end of mo lo
At mines loAt furnace yards loAt V S docks . do -
Manganese (mn. content), general imports. ..do
Pig Iron and Iron ManufacturesPig iron :
Production (excl. blast furnace production of fer-roalloys) thous sh tons
Consumption doStocks (consumers' and suppliers'), end of mo.
thous. sh. tons..Prices:
Composite $ per Ig tonBasic (furnace) doFoundry, No. 2, Northern.- ..do
Castings, gray iron:Orders, unfilled, for sale, end of rno.
thous. sh. tons..Shipments totaled do
For salecf doCastings, malleable iron:
Orders, unfilled, for sale, end of mo.
Shipments total doFor sale do
Steel, Crude and Semimanufactures
Steel ingots and steel for castings:Production thous. sh. tons__
Index _ .1957-59=100.Steel castings :
Orders, unfilled, for sale, end of mo.*thous. sh. tons..
Shipments total doFor sale total do
Steel forgings (for sale) :Orders unfilled end of mo doShipments total do
Drop and upset doPrices:
Composite, finished steel (carbon) $ per lb_.Steel billets, rerolling, carbon, f.o.b. mill
$ per sh. ton..Structural shapes (carbon), f.o.b. mill_-.$ per lb._Steel scrap, No. 1 heavy melting:
Cdmpasite (5 markets)§ $ per Ig. ton..Pittsburgh district do
Steel, Manufactured Products
Barrels and drums, steel, heavy types (for sale):Orders, unfilled, end of mo .thous..
Cans (tinplate), shipments (tons of metal con-sumed), total for sale and own use
thous. sh. tons..Food -do
Shipments for sale0.--. do
Steel products, net shipments:Total (all grades) -thous. sh. tons..
Semifinished products doStructural shapes (heavy), steel piling. ..doPlates _ — _ ....doRails and accessories. do
562140411
47036626
5, 5363,1152,421
5, 5059 467
4,9154,8992, 969
7, 6277, 867
24764, 77311,15447,316
6, 302
91
5, 0275,149
3,446
65. 9566.0066.50
8491,026
583
897646
7,78796.2
26811893
38611489
. 0698
95. 00.0617
39.2340.00
2,0941, 947
412245358
5,78123936948599
857248591
341280
15
5, 4753,3002, 175
5,5399,487
7. 3207,0142,883
9. 3968, 522
43670, 53411,33853, 350
5, 846
99
5, 5565, 552
3,471
65. 9566. 0066. 50
739966534
736839
8,273101.9
23111689
31710679
.0698
95. 00.0617
32. 9533.00
1,6091,755
402246
^338
5, 929235438511105
953231683
26818012
4,8962,8292, 066
4,9019, 513
6, 4237,4262,593
9,9066. 694
46686, 2418, 579
70, 8466, 816
85
4,4734,500
3,659
65. 9566.0066. 50
647905500
576435
6,86883.3
18610380
2779773
.0698
95. 00.0617
29. 5228. 50
1,3781,715
419274
'345
4,94417639740550
1,009234733
23919911
4,3702, 6451, 725
4, 4139,472
3, 9593,7832,011
5,8676,362
12685, 8498, 755
70,3516,743
89
4,1384,116
3,710
65. 9566.0066. 50
569836455
566335
6,17277.3
17410078
2659367
.0698
95.00.0617
28.3327.00
1,2951,711
319189
'271
4,51618336738858
771162571
23118917
3,9592,4081,551
4,1879,252
3,6721,1421,527
2, 6605, 895
8985, 23711,28267,116
6,839
94
3,8413,838
3,770
65. 9566.0066. 50
553749395
555732
5,84070.8
16310887
2689064
.0698
95. 00.0617
28. 6627.00
1,2341,604
346196298
4,11617932037846
770132584
17914519
4,1642, 5231,642
4.5468,876
3,3321, 1101,634
2, 6026,218
9284, 74414. 35663, 500
0, 888
81
4,0394, 125
3,685
65. 9566. 0066.50
600760406
525834
6,41677.8
1579677
2669569
. 0698
95.00.0617
i 32. 0430.00
1,4381, 639
289171237
4,63816630837864
948147777
17715214
4,1142.5051, 608
4.3978,. 591
3,2811, 1501,662
2,4486, 060
5183, 23616, 47159, 8876,878
93
3,9374,053
3,611
65. 9566. 0066.50
621702378
485130
6.23983.7
1459372
2638964
.0698
95.00.0617
33.3832.00
1,5291,634
292171239
4,25117132139558
969168780
24921120
4,9992,9142,086
4,9838,613
3, 5971, 3851,226
2,8976, 953
7781,11418, 67455, 8316,609
78
4,5144,634
3,559
65.9566.0066.50
652856497
455834
7,08685.9
14410783
2629670
.0698
95. 00.0617
36.5035.00
1,5881,937
374217312
5,04719538447883
888138683
27423522
5, 0712, 9362, 135
5, 2268,465
3, 5931, 5651,227
2,7567,113
13478, 56520, 70551, 4746, 386
36
4,6804,839
3,404
65.9566.0066. 50
645869504
485631
7,58595.0
1479471
2649670
.0698
95. 00.0617
38.9437.00
1,6231,797
371218304
5, 13317137745883
1,319159
1,118
321266
17
5,7823,3812, 401
5, 9748,293
6, 6046, 1872,041
7,1398,313
37277, 71521, 16750, 2526,296
142
5,6465,864
3,190
65. 9566.0066.50
651982572
526840
8,981108.9
15710379
26210578
. 0698
95.00.0617
36.6335.00
1, 4501, 959
416244.349
6,04821743748884
1,579146
1,388
35127718
5, 6173, 3652,252
5, 5308, 385
8, 53810, 0352,186
11,3028, 545
76378, 72319, 58953,0196,115
64
5,6875, 871
3,059
65. 9566. 0066.50
6661,027
606
526740
8,552107.1
15110984
25910880
.0698
95. 00.0617
38.4937.00
1,5531, 968
455265384
6,13422144048994
1, 156169931
35930011
4,9583,0161,943
4,8118, 528
7,87610. 7182,727
12, 6818,518
66280, 00516, 75757, 2925,956
92
5, 5975,628
3,065
65.9566.0066.50
679804474
6642
8,09298.1
1527757
2807254
.0698
95. 00.0617
37.7736.00
1,5411,759
472291408
5,12115837845163
<• 1, 056' 151
848
378307
3
5,6233,4662, 157
5,5808,569
9, 07610,9313,275
13, 4838, 7671,124
82,71814, 90862, 0085,802
63
5,7645,876
3,045
65.9566.0066.50
686932572
636541
8,661105.0
15710280
2819772
.0698
95. 00.0617
39.0536.00
1,5232,047
632M42'542
6,139204424495
64
976165769
37726936
r 5, 684-3,516r 2, 167
' 5, 584r 8, 674
8, 4829,9612, 565
12,1168, 965
69084, 40713, 44065,2115,756
68
6,0196, 105
' 2, 999
65.9566.0066.50
685947567
595335
8,915111.7
14810380
2839974
.0698
95.00.0617
40.6438.00
1,5301,835
535368447
6,05824143754462
959208713
42333532
p 6. 1 50P 3, 656p 2, 494
P 5. 845P 8. 963
3, 071
11.9999. 681
550
67, 5306,085
93
6,330p 6, 325
p 3, 035
65.95p 66. 00p 66. 50
•• 9, 173••111.2
28211084
.0698
p 95. 00p . 0617
pi39.09p 38. 00
6. 04628742656761
65. 95
* 8, 749P 109. 6
.0698
' Revised. p Preliminary. l See note marked'' §".9 Includes data not shown separately.(^Revisions for 1959 are available upon request.*New series (Bureau of the Census). Monthly data prior to Aug. 1960 are available upon
request.
§Effective Jan. 1961, the composite reflects new \\ eights; prices beginning Jan. 1961 are noicomparable with earlier prices.
©Revisions for Mar .-Sept. 1960 (thous. tons): 273; 298; 343; 361; 394; 525; 464.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-33
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May Tune July Aug. Sept. Oct. Nov.
METALS AND MANUFACTURES—Continued
IRON AND STEEL— Continued
Steel, Manufactured Products — Continued
Steel products, net shipments — ContinuedBars arid tool steel total thous sh tons
Bars* Hot rolled (incl light shapes) doReinforcing doCold finished do
Pipe and tubinp do\Vire and \\ ire products doTin mill products doSheets Mid «t i ip (incl. electrical), total. _ _ d o
Mu e r o - Hot rolled doCold rolled do
Fabricated ^trucuiral steel:Ordeis nc\\ (net) thous sh tonsShipments _ _ _ _ _ _ _ _ _ _ d oBacklog ond of \ear or mo do
NONFERROUS METALS AND PRODUCTS
Aluminum:Production, primary (dom. and foreign ores)
thous. sh. tons..Estimated recovery from scrap _doImports (general):
Metal and alloys crude doPlates, sheets, etc do
Exports metal and alloys crude doStocks, primary (at reduction plants), end of mo.
thous sh tonsPrice, primary ingot, 99.5% min $ per ib_
Aluminum shipments:
Mill products total doPlate and sheet do
Castings do
Copper:Production:
Mine, recoverable copper_ thous. sh. tons__Refinery primary do
From domestic ores doFrom foreign ores do
Secondary recovered as refined doImports (general):
Refined unrefined scrap© doRefined do
Exports:Refined, scrap, brass and bronze ingots, -do
Refined doConsumption refined (by mills etc ) doStocks refined end of mo total do
Fabricators' doPrice, bars, electrolytic (N.Y.) ._$ per lb._
Copper-base mill and foundry products, shipments(quarterly avg. or total):
Copper wire mill products© do
Lead:Production:
Mine recoverable lead thous sh tonsSecondary estimated recoverable© do
Imports (general) ore© metal doConsumption total do
Stocks, end of year or mo.:Producers', ore, base bullion, and in process©
(ABMS) thous sh tonsRefiners' (primary), refined and antirnonial
thous sh tonsConsumers 'cf doScrap (lead-base, purchased), all consumers
thous. sh. tons..Price, common grade (N.Y.) _ _ _ $ p e r l b _ _
Tin:Imports (for consumption) :
Ore© Ig tons_.Bars pigs etc do
\s metal doConsumption pig total do
Primary doExports incl reexports (metal) doStocks pig (industrial) end of mo doPrice, pig, Straits (N.Y.), prompt $ p e r l b _ _
Zinc:Mine production, recoverable zinc
thous sh tonsImports (general) :
Ores© doMetal (slab blocks) do
Consumption (recoverable zinc content) :Ores© doScr-ao. all tvDes do
885578181117693280486
2, 246654
1 063
304275
2 516
162.8i 29. 9
20 24.2
10 1
125 8.2475
413 4282 2147 465 5
68.791 566 425 219 5
47 917 8
16.613 2
124 0172 2123 0.3118
555396241
21 337 633 590 9
109 9
119 0126 5
54.4.1221
8983 6322 000
2706, 4483 819
11423 7141.0201
35 4
41 713 i
9.017.9
884576185115588248503
2,417666
1 , 206
299322
2,333
167.91 27. 3
12.73.1
23 7
185 3.2600
388 1254. 0136 462 6
90.0126. 693 433 123 0
43 611.9
51.536 1
114.6174 398.0
.3205
470380216
20 638 629 485 1
145 1
158 294 4
43.7.1195
1,1693,2911 800' 250
6, 7104,290
7122 7501.0140
36 3
38 010 1
7.416.1
80648722984
483224363
2. 039581
1, 004
246353
2, 291
167.032.0
16.13.2
10 8
248 4.2600
369 «246.' 4128 463.8
100. 4128.293 434 825 6
48 36.6
54.737 2
114.0206 499.8
.3060
18 341 022 885 8
156 0
139 5110 5
43.6.1200
1,0013,2621 815
2305, 6003,290
1922 9101.0328
28 1
30 47 9
6.019.9
73046417685
432204308
1,845500906
269325
2, 278
161.229.0
14.42.7
22.5
257. 1. 2600
369 7236.9127 863.4
98.1131.999.632 320.5
26.77.1
47.230.5
108.9219.0100.4.2960
19. 138 726 183.0
146. 9
151 9107.7
42.2.1200
5122,5231 860
2655,4753,035
2222 7901.0282
28 0
35. 511 2
5.617.8
62139214875
407182288
1. 695450866
249277
2, 333
165.528. 0
11.33.4
26.2
259. 5. 2GOO
378 5226.4121 663. 6
96.8133.3101.631 721.3
32.36.2
63.547.0
108.8228.0100. 2. 2960
458378198
20.236 326 677. 3
145. 1
158 294.4
43.7.1138
1,2263, 1081 725
2254,9152,845
7924 7981.0114
36.7
27.112 2
8 ff
17.3
66943614186
4891975/7
1, 790485872
308262
2.371
161.429. 0
10 83.3
16 6
291 4. 2600
341 6241.3131 960. 8
97.3127.489 338 124.7
61.96.0
66.149.7
100.1228 896.8
.2906
23.236 925 883.7
137.9
169 294.5
42.8.1100
8022,0581 750
2255,9653. 680
12523 9351.0038
40 3
30 06 2
8.118.5
62740214177
425190466
1, 599454743
257260
2, 357
138. 625.0
8.63.5
12.2
287.4. 2600
349 3232. 5124. 657. 1
88.3120.086.034 018.7
33.14.8
62.044.8
100.2229.794.5
. 2860
20.835 226 879.7
129.5
183 091.8
41.6.1100
1,1881,9981 750
2205,5053,570
1722 6101.0098
38.8
29.77 6
7.415.6
75847118991
544251528
1,825491847
296292
2 392
152.028.0
15.54.7
12 3
277. 9. 2600
396 6281.3151 362.5
100.4140.1107 332 721.5
28.25.1
77.460. 7
122.4213 192.9
.2860
448361195
24.638 837 583.4
125.7
187 094.8
41.0.1100
3192,2611 900
2306,4903,990
30520 6451.0340
43.2
39.416 5
5.918.5
80047023788
566266524
1,889520885
309319
2,378
144.630.0
12.43.38.0
266. 4. 2600
361 2268.6143. 260.3
90.9128.7102.326.424.2
36.64.4
51.936.4
121.2194. 6100.9.2860
21.936 535.577.6
115.0
194.7109.7
39.5.1100
1,3731,7851 815
2206,4104,080
12019 6301.0708
38.1
25.57 6
6.816.9
904572220105647301609
2,361657
1,126
392365
2,458
157.534.0
16.84.26.9
252. 9.2600
425 0295.3155.763.3
102.4137.8106.131.725.8
26.75.2
55.438.6
141.8182.398.9
. 2998
22.840.432.889.1
112.4
195.6110.6
39.6.1100
2233,0461 935
2506,8604,380
3218 6001. 1003
39.6
33.310.6
6.619.3
929576238108739299605
2, 319650
1,079
298361
2,415
159. 134.0
17.13.6
13.5
247. 5.2600
423 2304.3159.264.4
98.9138.1107.630.524.9
39.34.7
49.431.4
147.2165.698.3
.3060
562405217
22.938.123.185.7
110.6
195.1106.4
41.2.1100
3913,0201 915
2506,9704,420
3018, 0001. 1455
40.1
41.810 9
7.121.1
793480224
84615232543
1,889514861
456287
2, 517
164.728.0
15.34.1
14 4
256. 9. 2600
373 9263.2139 448.6
89.6119.388.930 418.4
50.44.7
46.829.3
'82. 6r 197. 1r 135. 3
.3060
19.434 535.571.6
119.6
193.8109.9
44.2.1100
5584,9041 670
2106,0903,920
302224751. 1625
35.1
31.87 4
5.814.7
942599231106781287605
2, 336632
1, 065
385359
2 378
107.030. 0
21.94.67.8
259. 2.2600
r 495 7r 303. 2r 159 4
65.1
83.6128.996.032 920.4
26.75.9
29.619.9
r 142. 5r 192. 7
121.6. 3060
21.938.836.9
r90.8
118.9
190.0110.2
45.3.1100
3754,0341 965
2457,2104,570
2223 0801. 1978
39.7
36.610.4
6.318.2
931595228101694278485
2, 387662
] , 089
408326
2,729
159. 632. 0
19.54.26.8
255. 4.2550
414 5286.9150.662.6
'97.8118.790.827.819.0
30.25.9
30.023.4
r 138. 5••167.3r 108. 2
.3060
525373
T 203
r20. 538.632.388.6
112.8
189.7107.7
43.3.1100
1,4463.929
6,4804, 245
1624, 8751. 2185
' 37. 5
26.714.4
7.618.4
938594228108632282430
2 423' 639
1, 145
303354
2, 566
167.3
22.84.6
11.8
255. 6.2400
104.1129.8101.927.920.7
43.612.3
32.225.9
"137.1"163. 8v 109. 5
.3060
20.4
37.1
116.4
"~Il66
3195,030
5
1. 2105
39.1
39.914.4
. 2400
.3060
"."1626"
1.2289
r Revised. p Preliminary. 1 Recoverable aluminum content. Monthly data areexpressed in metallic content (incl. alloying constituents); aluminum content is about 93%of metallic content. 2 Beginning July 1961, includes tonnage held by GSA.
©Basic metal content.(^Consumers' and secondary smelters' stocks of lead in refinery shapes and in copper-
base scrap.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-34 SURVEY OF CURRENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 | 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
METALS AND MANUFACTURES—ContinuedNONFERROUS METALS AND PROD.— Con.
Zinc — ContinuedSlab zinc:
Production (primary smelter), from domesticand foreign ores thous. sh. tons__
Secondarv (redistilled) production doConsumption fabricators' doExports doStocks, end of year or mo.:
Producers' smelter (AZE) doConsumers' __do
Price, prime Western (St. Louis) $ p e r l b . _HEATING EQUIPMENT, EXC. ELECTRIC
Radiators and con vectors, cast iron:Shipments mil. sq. ft. radiation _ _Stocks, end of year or mo do
Oil burners:Shipments thous__Stocks, end of year or mo do
Stoves and ranges, domestic cooking:Shipments, total (excl. liquid-fuel types) do
Gasd" do
Stoves, domestic heating, shipments, total. . doGasf do
Warm-air furnaces (forced-air and gravity air-flow),shipments totalf thous
Gas doWater heaters, gas, shipments do .
MACHINERY AND APPARATUSFans, blowers, and unit heaters, qtrly. totals:
Fans and blowers new orders mil $Unit-heater group, new orders© do
Foundry equipment (new) , new orders, netmo. avg. shipments, 194 7-49 =100- _
Furnaces, industrial, new orders, net:Electric processing mil. $Fuel-fired (exc. for hot rolling steel) do_ _ _
Material handling equipment (industrial), neworders index 1954=100
Industrial trucks (electric), shipments:Hand (motorized) numberRider-type _ _ _ _ _ _ _ d o _ _ _
Industrial trucks and tractors (gasoline-powered),shipments . _ . . _ number. _
Machine tools:Metal cutting tools:
Orders new (net) total mil $Domestic - __ do
Shipments, total doDomestic --do
Estimated backlog _ _ _ -.-months _
Metal forming tools:Orders, new (net). mil. $._Shipments doEstimated backlog months
Other machinery and equip., qtrly. shipments:Construction machinery (selected types),
total 9 i mil. $Tractors tracklaying total doTractors, wheel (con. off-hietfiwav)_ . doTractor shovel loaders, integral units only
(wheel and tracklaying types) mil $Tractors, wheel (excl. garden and contractors'
off-highway types) mil $Farm machines and equipment (selected typos),
excl tractors mil. $
ELECTRICAL EQUIPMENTBatteries (automotive replacement only), ship-
ments thou5!Household electrical appliances:
liai'oos (incl. built-ins), domestic and export
Refrici' ratois and home freezers, output195 7 = 100
Vacuum cleaners (standard type), sales lulledthous-.
Wasliers, sales billed (dom. and export)©-- do. . -
Radio s^ts production! doTelevision sets (incl. combination), prod.§ doElectron tubes and semiconductors, factory sales
mil. $..Insulating materials, sales billed, index
1947-49 = 100..Motors and generators:
NTew orders index, qtrly doNew orders (gross):
Polvphase induction motors, 1-200 hp mil. $D C motors and generators, 1-200 hp do
66.64.8
79 71.0
1 56. 2102.4.1145
2.05 2
54. 446.3
169.8166 0
187.9120 5
119 689.1
234.0
2 37 0221 3
142.6
1 54.1
131 8
462335
2,055
42.4036. 8534.4030.45
12.5010.40
4.2
2281.12 80 7223.0
2 54.8
2 130. 6
2 221.9
0 2'.)1
140 0
123.5
285. 1310.4
1 301 9529. 1
To. 6
149
- 172
14.22.5
67.05.7
73 26.3
188 067.8
.1295
1.72 8
42 845 9
151.8148 5
154.7100 9
100 878.1
208.2
2 38 52 21 4
118.8
1 32.9
122 6
461470
1,885
41.9029.3542.3032. 85
12. 5012.00
4.2
2 251. 52 67 5216.2
2 58.0
2 89. 4
2186.2
9 194
1°7 1
111.8
27(5. 1272 9
1 497 2
S2. 6
137
2 162
13.62.3
58.74 3
67 84.8
190 365. 3
. 1300
1.92 8
61645 1
174.0169 3
262. 5172 0
137 6104.2179.5
81.7
1 23.5
99 9
394506
1,569
35 6025. 5540 6527. 75
20. 0010 70
4.5
9 834
129 1
91.5
200. 1305. 8
i 727 0000. 0
So. 0
124
12.31 8
56.94.0
62 77 8
182 169.9
.1300
1.52 7
40.341.6
148.8144 5
172.5113.4
98.576.8
161.3
106.5
82.1
99 0
374463
1,655
39 7526.0536 9023.40
10.2011.65
4.4
9 034
j 1Q 4
S7. 9
2x0. 6i 27o. 3
i } -108 8429. 8
79. 1
123
10.82 2
69.43 5
69 ?14 2
190 866 1
.1248
1.02 8
29.244 2
120.4117 9
85.747 4
79 259 2
174.0
34 923 4
101.2
1 2.4
110 0
342449
1,628
47 4529.4548 6033.00
11.5512.75
4.3
175. 248 19.3
44 4
97. 3
107. 0
2 8'?9
114 4
100.0
254. 0223. o
5] o''l 7* 400. o
77. 2
130
134
11.91 9
74.03 4
63 89 2
9P6 469 4
1.1153
1.02 9
42.044 1
117.0114 8
68. 341 9
76 661 6
213.9
123.7
84.5
116 2
375343
1,318
35 7520.9536 9525. 10
20. 358 555.0
9 701
100 4
99 2
24?. o228 9
1 000 1367. 9
72.0
118
10.41.9
66.33 9
60 66 1
915 060 0
.1150
1 22 9
37.744 1
127.3194 8
70.939 3
78 863 1
199.1
81.8
91.9
114 4
386373
1,595
39 4527.6535 6024. 40
6. 9510 05
4.9
2 321
l°s 1
124.3
257. 9097 (\
I 115 0444. 4
73.4
118
12.92.5
73.64 4
64 36 4
2° 2 959 1
.1150
1.03 3
33.848.9
154.3150 8
106. 374 2
80 763.8
241.2
38 93 13 8
99.1
1.02.6
137 0
394499
1,914
54. 9040. 8042. 0528. 95
15.1512.80
5.2
220 506 71 0. l
54 9
151. 0
224. 2
1 491
1 4g o
3 1 6 2
350. 0305. 0
5 1 3S-1 15 497. 5
92. 5
142
152
13.62.0
69.23 6
69 63 5
219 056 8
.1150
.93 7
38.151 5
138. 9136 0
87.845 7
81 165.7
252 3
115.2
.7
.3
109 8
393426
1,892
41.3031.6040. 1528.30
4. 9
6.3513.55
4.4
1 334
19$ 4
123. 5
265. 0209. 7
1 124 9405. 8
78. 0
125
12.42 3
69.34 3
80 62 6
213 160 0
.1150
.94 6
38.153 7
164.2161 5
97.053 7
90 672.1
210.7
101.5
1 46.1
136.5
385372
1,952
41. 7030.8542. 8531.40
4. 8
7.9015.05
3.8
1 695
131 0
121.1
240. J247. 9
1 1 00. J470. 4
75.8
129
12.42. 1
68.04 8
80 42 6
207 859.5
.1150
1 14 3
44.155 4
170.2167 9
149.195 3
107 9
86.6173.7
r 39 5317 7
130.8
1 23.5
175 5
427376
1,844
52.1031.5046. 7530.20
4. 8
9.4017.45
3.3
284.470 924.0
04 2
132.0
222.4
2 037
145 0
132.0
242. 0304. 3
5 1 020) 3* 61 5.1
$0. 9
139
154
13.72.8
65.34.5
69 53 7
206 664.0
.1150
1.03 9
35.954 4
117.6114 4
157. 397 4
104 283.5
160.1
69.0
1 41 3
130 7
395393
1,753
46 7027.8537 2024. 95
5.0
8.9512 55
3 0
4 20 8
* 22. 4
2 Q93
104 0
113.8
213.9228. 4
1.030.4383. 4
58. 0
105
11.81 9
02.23.6
84 75.1
188 1'62.1. 1150
1.53 6
62.650 9
187.4183 6
226 8136 2
129 099 1
201.3
62.0
93.3
113 3
388385
1,667
44 8029.6534 0523.15
5.2
10.1012 95
2 8
4 21 3
4 15 5
2 088
I0"7 5
72.9
270.1332. 0
1 385 1514.7
86.0
135
11.82 2
63. 05 0
83 33.3
105 163 2
.1150
1 63 2
55 143 8
190.1185 8
240 8149 5
149 4112 1182 1
38 63 14 5
108.4
1 21 l
120 8
377349
1,735
r 55 65r 34 05r41 20' 27. 10
T 5.7
* 10. 95r 10 70
2 8
4 28 4
4 31 0
158 4
r 9 R07
I'o 3129 7
302, 240 j . 9
•i ? 048 75094.0
89. 5
13.52 4
2 7
150 1
.1150
106.9
1 41.6
125. 0
p48 50p 29. 55P46 05P 29. 10
v 5. 0
P 8. 45»10 80
*2. 7
3 1Q0
i °o s
1 1 S 0
3'27. 03'2 1.9
r i 790 4>• 0-0. S
80.0
146 4
.1150
P] 739 Qr> 588, 8
r Revised. v Preliminary. i Average based on actual market days; excludes nominalprices for other days. 2 Quarterly average. 3 See note marked "©".
4 Data are for month shown. « Data cover 5 weeks.c? Includes data for built-in gas fired oven-broiler Units; shipments of cooking tops, not
included in figures above, totaled 33,800 and 34,000 units in Aug. and Sept. 1961, respectively.tRevisions for gas heating stoves (Jan.-June 1960) and warm-air furnaces (Jan.l959-June
I960) are available upon request.©Beginning 1st qtr. 1961, data exclude new orders for gas-fired unit heaters and duct
furnaces; comparable data for 4th qtr. 1960, $15,900,000.
9 Includes data not shown separately.t Effective 1960, data are not strictly comparable with earlier data. Revisions for 1960
appear in the July 1961 SURVEY.OData exclude sales of combination washer-drier machines; such sales (inel. exports)
totaled 7,600 units in Oct. 1961.§Radio production comprises table, portable, auto, and clock models; television sets
exclude figures for color sets. Data for Dec. 1960 and Mar., June, and Sept. 1961 cover 5weeks; other months, 4 weeks.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1061 SURVEY OF CURRENT BUSINESS S-35
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dee.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
PETROLEUM, COAL, AND PRODUCTS
COAL
Anthracite:Production thous sh. tonsStocks in producers' vards, end of mo doExports doPrices:
Retail, stove, composite $ per sh tonWholesale, chestnut, f.o.b. mine_ do
Bituminous:Production thous. sh. tons__Industrial consumption and retail deliveries,
total 9 thous sh tonsElectric power utilities doMfg and mining industries, total do
Coke plants (oven and beehive) do
Retail deliveries to other consumers do
Stocks, industrial and retail dealers', end ofmonth, total 9 thous. sh. tons..
Electric power utilities doMfg and mining industries total do
Oven-coke plants do
Retail dealers do
Exports doPrices:
Retail, composite _ $ per sh tonWholesale:
Screenings, indust use f o b mine doDomestic large sizes f o b mine do
COKEProduction:
Beehive thous sh tonsOven (byproduct) doPetroleum coke§ do
Stocks, end of month:Oven-coke plants, total do
At furnace plants doAt merchant plants do
Petroleum coke doExports do
PETROLEUM AND PRODUCTS
Crude petroleum:Oil wells completed . number .Price at wells (Okla.-Kansas) $ per bbl_.Runs to stills mil. bblRefinery operating ratio % of capacity
All oils, supply, demand, and stocks:New supply, total mil. bbl
Production:Crude petroleum doNatural-gas liquids, benzol, etc -. do
Imports:Crude petroleum doRefined products do
Change in stocks, all" oils (decrease,—) do
Demand, total doExports:
Crude petroleum _ _ _ _ doRefined products do
Domestic demand total 9 doGasoline doKerosene do
Distillate fuel oil rl :>Residual fuel oil d )Jet fuel . d )
Lubricants... __ _ . ._ _ , d )Asphalt _ _ _ - d )Liquefied gases d )
Stocks, end of month, total . _ _ doCrude petroleum doNatural-gas liquids doRefined products. do
Refined petroleum products:Gasoline (incl. aviation):
Production _doExports - do _..Stocks, end of month:
Finished gasoline doUnfinished gasoline d o _ _ _
Prices (excl. aviation):Wholesale, ref. (Ok'la., group 3) $ per gal._Retail (regular grade, excl. taxes), 55 cities
(1st of following mo.) $ per gal _
1,721389149
27.8914.177
34, 336
30 52113,81613, 9806 598
2 428
69, 51945 66422 73510 678
844
3 104
16 89
5 2237 733
904 566
685
3, 9652 4711,4941 120
38
r 2, 2552.97
243. 185
295.4
214 526.8
29 424 81.5
?93 9
.26 2
287 5123.8
9 2
55 047 0
8 7
3.68. 5
802. 7258. 9
26. 4518.2
124.11.4
182.012.2
.114
.212
1,568315119
27.6713. 948
34, 626
H 31 7Q9'I 14, 490ri 14, 425rl 6 751
2 534
72, 33348, 24423 21611,287
693
3 041
17 06
5.1647 690
844 6851 000
3 4, 1523 2 947
1,2051 159
29
1,8742.97
246.083
298 8
214. 628.7
31 024 5
-2.5
301 3
.35 9
295 1126. 511 0
46 78 6
3.68. 7
18 8
2-18. 028.4
513.9
129. 01.1
188. 912.7
.116
.210
1,678319154
27. 5514. 098
35, 499
'30 163r 14, 305r 12, 932r 5 579
2 609
76, 2065^,21523 00611,083
821
3 763
17 21
5 1497 709
573 8911 153
4,6033 4111, 1921 194
16
1,8752.97
245.281
297.9
215 729.7
31 521 014.8
283 1
.45 6
277 1126.210 5
45 240 88 3
3. 511 118 0
831 4233. 036. 1
562 3
126. 61.1
12.0
.125
.213
1,692327176
27.6414. 098
33, 589r30 591r 14, 695>• 12, 918r 5 048
2 729
76, 73052, 43523 98311,204
832
2 882
17 24
5 1497 869
613,4961 145
4.6813, 4691,2121 174
35
1,8352.97
236.881
300.2
214. 029.5
30 026.7
-4.7
304 8
05 2
299 7124.9
12 8
61 648 58. 5
3. 56. 8
20 8
826. 8239. 5
34. 0
123. 9. 7
175 413.3
.125
.215
1,794199110
27. 8814.098
33, 091
^34 503' 16, 758r 13, 632r 4 926
3 886
73, 24449, 93729 45111,029
666
2 399
17 27
5 1497 900
603 3821 202
4,7323 4521,280
87711
2. 4262. 97
248.983
309. 7
221 731. 5
28 727 9
-48.0
357 8
.55 3
351 9124. 918 8
95 557 18 3
3. o4 0
25 5
778 7239.828. 9
510 0
130. 8
181 213. 6
. 125
.214
1.803110134
28 3414. 420
32, 570
34 7Qo16,90313 7275 035
4 069
69,19447 15791 47710 484
560
1 867
17 30
5 1497 992
503 494l'260
4 8223 4851 338
933
1 8802.97
259 387
321 6
923 531 0
33 733 5
-25.1
346 8
15 0
341 6114. 518 1
% 458 98 0
3 63 1
759 4236. 8
24. 04' 18 7
131 71.0
197 914. 0
.125
211
1 , 7566489
98 5614. 420
28, 970
30 230U, 73019, 4034 799
3 097
66, 46345 24520 6839 789
535
1 868
17 30
5 1497 999
613 2961 121
4 7813 4011 380
93326
1 5122.97
236 886
291 4
204 328 2
28 830 1
-7.2
298 6
34 3
994 0105. 615 1
74 9r)3 17 i
2 89 3
90 6
759 2232.123. 2
4()7 0
115 8. 5
208 813.4
. 125
211
1,46898
107
28. 5614. 420
29, 950
30 47014,77313 4215 345
9 273
65,18344 62790 1589 551
398
1 959
17 30
5 1497 828
703 6541 237
4 6973 2851 4121 025
41
1 9502.97
251 081
323 6
231 630.9
33 327 Q
14.8
308 9
.35 1
303 4126. 611 7
66 450 98 8
3.54 6
17 5
767 0244.9
4(»4 5
127. 6. 5
209 514. 2
.125
201
1,19715312
28.5614. 420
29, 220
98 42313,50012,9695 495
1 9C9
65, 00745,01719 6409,332
350
2, 541
17 232 5 037
7 275
673 7971 248
4,7263 2561,4701 102
23
1,6432.97
234 678
304 7
219 830.1
27 027 924.1
280 6
.35 3
275 0119.2
9 0
53 346 18 1
3.05 6
17 5
791 1256. 131.6
503 4
118 61. 1
90S 414.2
.125
.202
1,44724795
27.4711.970
34, 250
28 44313, 57413, 5876 206
1 193
67, 89346, 93720 5029,852
454
3 392
16 86
5 0187 209
784 2491 218
4,5723 0941 4781 112
41
2,0502.97
249.080
308.7
221 629.7
33 623 916.1
292 6
.25 7
286 7137.2
9 2
44 339 G10 6
4.010 416 0
807 22(>1.435.4
510 4
127. 3
198 914.5
. 115
202
1,372178159
27.4711.970
31,510
27 96613,72213,1376 153
1,010
70, 69848, 36021,7889,931
550
3,402
16.74
5.0187 256
784,2101 236
4,3582 9281, 4301 111
27
1,7342.97
239.680
288. 0
213.128.7
27 219 09.8
278 2
.45 4
272 4138. 5
7 8
37 031 68 5
3.613 816 4
817 0261.138.2
517 8
123 21. 1
183 713.9
.125
206
1, 20217393
27.6412. 460
26, 800
28 24114, 20112,9346,277
1,007
67, 13946, 95119 5978, 496
591
2, 775
16.81
5 0187 273
724 3191 325
4, 3542 8841,4701 135
45
1, 7352.97
257. 083
307. 3
215.729.4
38 024 321.2
286 1
,24 8
281 9137 4
0 '>
y) ~>o (» 3
S 0
14 1
S32 2
41 4r^o q
135 I.6
189 513.3
,125
214
1,565253142
27. 7612. 460
37,500
30, 62615, 33613, 4696,506
1,710
69, 65348, 45220, 2768, 936
625r 3, 918
16. 91
5.0167.367
854, 4641,342
4,3012,8911,4111, 112
41
1,8242.97
262. 185
302.7
220.229 6
34 018.83.3
299 3
3"> 4
2)3 (>1 10 4
10 1
40 S,3S J
q 7
3.7l f > 2is 0
Ml {)24s 1
42 -" 0 7
130 58
178 513.1
.115
.206
1, 423293151
27 8912. 950
r 35, 150r30 636
14,79713, 5626, 628
2,173
70, 69749, 37120,7109, 135
616r 3, 771
17.04
5.016r 7 470
744 5571 183
4, 1012 7721 3291 095
59
1 6762.97
239 380
292 7
209 828 0
33 121 812.0
280 7
14 1
>76 °130.1
11 }
3b 510 2
\ 3 51(> ()
s"i {>2"»1 0
44 1"S 2
123 3.9
173 311. 7
. 105
199
T 1, 636297141
28. 2413.370
"38, 565
33, 36715, 35215, 052
7, 069
2, 860
72,61250, 26821,714
9, 813
630
3.716
17.29
*5. 016*>7. 586
794, 862
4,0362,7641,272
35
2.97
-~
r . 095
201
v 1.522
?37, 305
r Revised. v Preliminary.i Revisions for Jan-Sept. 1960 (thous. sh. tons): Total, 38,170; 36,510; 39,164; 30,827; 29,667;
27,959; 26,614; 28,800; 27,461; electric power utilities, 15.867; 15,008; 16,111; 13,083; 13,119; 13,197;13,403; 14,673; 13,663; manufacturing, etc., 17,975; 17,266; 18,528; 15,743: 14,937; 13,414; 11,875;12,283; 11,593; coke plants, 8,904; 8,598; 9,103; 8,177; 7,599; 6,519; 5,717; 5,673; 5,172.
I 12 Data beginning April 1961 are not entirely comparable with those for earlier peri
March 1961 price comparable with later data, $5.059 per sh. ton.3 Revisions for Jan.-Aug. 1960 appear in the Nov. 1961 Survey.9 Includes data not shown separately.§Ineludes nonmarketable catalyst coke.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-36 SURVEY OF CURRENT BUSINESS December 1961
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthly
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June Julv Aug. Sept. Oct. Nov.
PETROLEUM, COAL, AND PRODUCTS—Continued
PETROLEUM AND PRODUCTS— Continued
Refined petroleum products— ContinuedAviation gasoline:
Production _ - - mil. hblExports doStocks, end of month _._ ... do
Kerosene:Production _ _ ._ doStocks end of month doPrice, wholesale, bulk lots (N.Y. Harbor)
$ per gaLDistillate fuel oil:
Production mil bblImports . . doExports . doStocks end of month doPrice, wholesale (N.Y. Harbor, No. 2 fuel)
3 per gal _Residual fuel oil:
Production . mil bblImports doExports doStocks, end of month ._ _ _ doPrice, wholesale (Okla., No. 6) $ per bb l__
Jet fuel:Production mil. bblStocks, end of month. .__ do. ._
Lubricants:Production _ . _ _ doExports doStocks end of month _ doPrice, 'wholesale, bright stock (midcontinent,
f.o.b., Tulsa) $per gal._Asphalt:
Production mil. bblStocks, end of month ___ . do
Liquefied petroleum gases:Production doTransfers from gasoline plants doStocks (at plants, terminals, underground, and
at refineries), end of mo mil. bbl .
Asphalt and tar products, shipments*Asphalt roofinir, total _.. thous, squares
Roll roofing and cap sheet doShingles, all types _ do
Asphalt Aiding doInsulated siding doSaturated felts thous. sh tons
10.31 0
13.4
9.226 2
.105
56 61.51.1
129 7
.100
29.018. 51.7
56. 51.65
7.77.8
4.71 28.8
.235
8.112.3
5.612.2
21.5
4,9611,7633,197
7812786
9.68
13.5
11.328 7
. 104
55 61. 1.8
197 q
. 094
27 719.51.5
43.41.69
7.46.6
4.91.39.4
.257
8.212.8
6.512.5
24.2
4,9971,8133, 184
739482
9.5.9
12.7
I9 037 0
.105
56 3.9.6
180 1
. 095
25. 816.01.3
50. 01.80
6.96.0
4.91.49.2
.260
9.78.1
6.012. 1
32.6
6, 0212,2993,722
10111787
9.06
13.6
12.436 7
.101
54 9.66
173 9
.091
27.121.91.3
49.51.80
7.36.0
5.11.49.5
.260
6.88.6
6.115.0
30.6
4, 5921,6882,903
848279
9.65
13.9
13.431 4
098
59 21. 1.6
138 5
.088
30. 922 8
1. 544.91.80
7.36.5
5.11 49.9
.260
5.210.1
6.719.0
25.5
4,3511, 6562, 695
745195
9.68
13.1
13 927 4
1 . 109
64 42 1
108 11 .099
29 927. 91 2
42 91.80
6 76.0
4 71 0
12 4
.260
5 015.2
6.919 0
20.7
2,000775
1, 224
454453
S. 6.3
13.0
12.024 5
.117
63 21 1.3
97 3
. 107
27 825.7
1 042.61. SO
6 76.4
4.71 5
12.8
.260
4 517.6
6.414 5
20.0
1,665655
1,010
354535
9.64
12.8
12.72~, 7
. 115
56 01 4.4
8» 0
.105
27 422.81 3
40.91.80
8 97.1
5.01 6
12.7
.260
5.919.2
6.911 2
24.3
3, 8341, 4462,388
657360
9.21 0
11.8
10.627 3
.110
49 99
.685 0
.100
25 022.91 3
41 81. 65
8 07.8
5. 11 4
13.4
.260
7 721.6
6.611 2
28.3
4,7091, 6673, 042
627869
10.24
12.3
9.928 4
.105
52 9
.893 6
.095
26 016 61 6
44 11.60
8 37.6
5 31 5
13 1
.260
9 421.3
7.110 2
33.4
6,5172, 1394,378
759889
9.49
11.6
9.530 3
.105
52 51 0
109 5
.095
23 312.31 l
47 41.45
7 57.9
4.61 3
12.7
.260
10 919.3
6.610. 1
36.9
7, 2662 3204,947
76108108
9.6.5
10.7
11.132 4
. 105
58 21.5.6
199 6
.095
25 816.9
850. 21.45
8 18.2
5.21.5
12.9
.260
11.817.7
6.29.9
40.7
5,8672,0693,798
7310578
10.8.6
10.8
11.333,9
.108
61 21.1.4
150 9
.098
25.212.81.4
48.81.45
8 98.5
5.11.7
12.6
.260
11.914.1
6.411.8
42.3
6,8802 4654,415
9012596
9.97
10.6
11.335 9
.108
54 61 4.3
165 4
.098
23 91 4. 8
950 31.45
8 07.9
4.51 2
12 4
.260
10 912.1
5.911 3
43.7
r 7, 0872 497
r 4, 589
95105102
v . 108
v 098
P 1.4"
p . 260
7, 3762 5644,812
107112109
PULP, PAPER, AND PAPER PRODUCTS
PULPWOOD AND WASTE PAPER
Pulp wood:Receipts thous cords (128 cu. ft )Consumption _. _ _ . do__ _Stocks end of month do
Waste paper:Consumption __ _ thous. sh. tonsStocks, end of month do._
WOOD PULPProduction:
Total all grades _ thous. sh. tonsDissolving and special alpha doSulfate __ _ _ _ . doSulfite do
Groundwood _ doDefibrated or exploded doSoda semichem screenings etc do
Stocks, end of month:Total all mills do
Pulp mills doPaper and board mills doNonpaper mills do
Exports all grades total doDissolving and special alpha doAil other _ _ do ._
Imports all grades total doDissolvinff and special alpha doAll other do
PAPER AND PAPER PRODUCTS
All paper and board mills, production:Paper and board total thous sh tons
Paper doPaperboard do"Wet-machine board doConstruction naner and board __do
3, 1723,2245 181
785510
2 03292
1,152207
269103209
89927954278
542430
20315
188
2 8381 2561,290
12280
3,4483,3745,483
753550
2,11095
1,216215
274100209
90229952974
953461
19815
184
2 8721,2841,306
14268
3,7383,5885,967
770544
2 22897
1,298227
284113208
938323546
69
903160
19814
184
»• 2 9841 3401,345
13••286
3,2493, 3585,891
719548
2, 07491
1,194230
265100193
95734254669
983364
22919
210
2 7941,2541,278
12250
3,0322, 9665,948
752561
1, 84883
1,040187
26190
187
89729453469
953461
1759
166
2 5211, 1C51,123
11222
3, 4493, 4006,471
712519
2,10899
1,218222
26896
204
88231749966
882365
18512
174
2 7931,2951,257
10230
3,4003,2226,212
677515
1,95791
1, 151200
243.75
197
88931260770
1093278
19514
181
2 6391,2191,214
10196
3, 5163,5996,169
762519
2,245107
1,311221
275104227
91432552466
1094366
20812
196
3,0041,3541,386
12253
3,1703, 5105,983
728517
2,17797
1V278225
256104218
898339497
62
1003664
16812
156
2 9401,3061,360
11264
3, 3573,6645,424
778536
2,298114
1,335221
281117230
91534950561
1074364
20918
191
3,0701, 3401,427
11291
3,4653, 5605 323
778516
2,265100
1, 326222
266119234
93235651561
933558
22411
213
3,0941,3251, 453
13303
3,2683,1995 389
684531
1,99080
1,166179
256102207
93534752662
883751
19012
178
2,6971,1661,245
8277
3,8993,6235 655
825501
2,30597
1,347217
278120245
917332509
77
1173978
22412
212
3,1771,3621,485
11319
r 3, 546f 3, 436r 5 772
790479
r 2, 15882
r 1, 288r 195
'254108230
r 878'315
50658
792653
19816
183
3 012r 1, 293
1,42911
280
3 8553, 8515 761
816498
2, 415118
1,414230
282116256
87931750655
943856
22517
207
3, 2561,4141,527
10304
r Revised. v Preliminary.1 Prices beginning Jan. 1961 not strictly comparable with earlier data. Jan. 1961 prices
comparable with Dec. I960: Kerosene, $0.115; fuel oil, $0.105.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-37
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
PULP, PAPER, AND PAPER PRODUCTS—Continued
PAPER AND PAPER PRODUCTS— Con.
Paper, exc. building paper, newsprint, and paper-board (American Paper and Palp Assoc.):
Orders, new 9 thous. sh. tonsOrders unfilled end of month 9 doProduction _ doShipments 9 _ _ ._do_Stocks end of month 9 do
Fine paper:Orders new doOrders, unfilled, end of month do_ _Production doShipments _ _ _ _ doStocks end of month do
Printing paper:Orders, n e w _ _ _ _ _ doOrders unfilled, end of month __ . _ doProduction doShipments - doStocks, end of month __ _ _ _ d oPrice, wholesale, book paper, "A" grade, English
finish, white, f.o.b. mill $ per 100 IbCoarse paper:
Orders, new .._ thous. sh. tons..Orders, unfilled, end of month. _ do __Production doShipments do _Stocks end of month do
Newsprint:Canada (incl. Newfoundland):
Production _ _ _ doShipments from mills doStocks at mills, end of month _ _ do
United States:Production _ doShipments from mills doStocks at mills, end of month _ do
Consumption by publishersc? doStocks at arid in transit to publishers, end of
month cf1 thous. sh. tons
Imports doPrice, rolls, contract, delivered to principal ports
$ per sh. ton.
Paperboard (National Paper-board Assoc.):Orders new thous. sh. tonsOrders, unfilled, end of month do. _Production total do
Percent of activity -Paper products:
Shipping containers, corrugated and solid fiber,shipments mil. sq. ft. surf. area--
Folding paper boxes, shipments, index of physicalvolume , 1947-49=100
929701
1,096910558
14690
147145131
389401376370250
16.28
333161333333106
533535227
16416422
444
621
438
134. 40
1,334477
1.33092
9, 166
126.9
926682
1,117922630
14479
148145156
398396389391270
16.85
324161333325123
562563209
17016934
461
634
451
134. 40
1,322427
1,32889
9, 044
124.0
966659
1,160951644
14273
144146156
4273964C8408270
16.95
333143336335126
5915S8205
18518337
517
615
475
134. 40
1,390418
1,39893
9,501
132.4
857625
1,084879661
14275
145145163
375368389389270
16.95
281134302288139
604645164
17417734
497
626
504
134. 40
1, 272409
1,31386
8,781
116.6
819586
1,012844647
13470
134135149
348333374375269
16.95
281136278278139
534558140
15916726
457
628
475
134. 40
1,182372
1,21273
8, 186
124.0
934618
1,118899644
14478
142143153
412367386381275
16. 95
320130322313143
545509176
18416743
422
633
422
134. 40
1,212380
1,20187
8, 254
112.0
903641
1,056867657
15493
142147153
397370372369277
16.95
295133300294150
512469219
16316839
392
648
415
134. 40
1,242399
1.21989
8, 082
109.4
1,016665
1,176976643
16490
160160145
442394417414280
16.95
345138336339144
572528263
18617847
469
611
493
134. 40
1,454441
1,43691
9, 667
130.8
962678
1,147935662
15798
156155154
405394382381281
16.95
341143339338148
549559252
16317634
479
594
421
134. 40
1,304421
1,31791
8, 936
117.2
955641
1,160953661
15891
159155147
396362404403283
16.95
339144340334149
592583261
18617941
486
589
512
134. 40
1,462448
1,45291
9,707
127.8
972659
1,163959682
15086
160152157
422379407403287
16.95
345153341341157
558573246
16617136
447
594
484
134. 40
1,409427
1, 42594
9,927
r 132. 6
'873r 651
1,003••839'672
145'91
'135135
' 151
370360357
'358••286
16.95
303152296
'296r 149
555553249
17116443
413
618
444
134. 40
1,237472
1 18478
8, 570
T 107 0
'970r 648
'1,166' 957'691
'156'89
' 160'155'154
'408' 352' 404' 401'286
16.95
340158
'338335153
585609225
19218649
417
671
465
134. 40
1 541521
1 50195
11,170
r 135 3
880601879873604
14974
166157164
387352386386286
16.95
344175327330154
548555217
16717640
451
664
449
134. 40
1 470571
1 42392
10,541
r ]30 2
16 95
596590224
18718344
512
623
461
p 134. 40
1 499
1 r>9998
10,619
r 135 7
1 433485
1 47995
10, 052
v 19C> 5
RUBBER AND RUBBER PRODUCTS
RUBBERNatural rubber:
Consumption thous Ig tonsStocks end of month doImports, incl. latex and guayule . _ - _ do. __Price, wholesale, smoked sheets (N.Y.)__ $ perlb..
Synthetic rubber:Production thous. Ig. tonsConsumption doStocks, end of month doExports _ - do
Reclaimed rubber:Production _ _ _ _ do. _Consumption doStocks, end of month do
TIRES AND TUBES
Pneumatic casings:Production thous
Shipments, total _ ... . . do ...Original equipment doReplacement equipment doExport _ . .. - do.. _
Stocks, end of month _. _ _ . do__ _Exports (Bur. of Census) . ._ do
Inner tubes:Production doShipments doStocks, end of month doExports (Bur. of Census) _. do. __
46 2579 7847.80.365
114.9789.39
187. 8724.46
25.3424.2026.62
9,828
9,3732,8496,405
119
22, 21392
3, 8383, 8368,076
76
39. 9278 4834. 23
.385
119. 7089. 94
232. 0228.74
24.4023. 0432.02
9,987
9, 9763,3506, 482
143
26, 558117
3, 4153,399
10, 324107
36. 9976 1226. 91.343
110. 9989. 19
238. 5923.17
23. 5623.0833.52
9,530
10,0143, 5896,304
121
25, 49973
3,0673,000
10, 589137
35. 9271. 6130.41.311
110.4686. 58
240. 0423.38
22. 0220.8433.78
9,044
8,3033, 4254,772
105
26, 29076
2, 9212,657
10, 85971
31. 8577 2839. 08
.289
104. 6680.42
242. 7923. 50
20.0219.7632. 80
8,804
7,6503,0874,452
112
27, 54088
2,9132,817
11,034110
.
35. 1580 2433. 75. 285
105. 812 86. 20236. 25
26. 29
22.5322.0533.10
9,221
9,1302,4496,590
91
27, 68279
3,2085,0769,394
57
31.8776 4126. 77
. 294
101.24
233. 0426.38
19.7218. 5533.49
8,591
7,0042,1914, 722
92
29, 33883
3,1403,2779,246
75
34. 9172 3628.74.305
112. 5886. 01
235. 6327.98
21. 8220.5632.70
9,212
9,1662, 4486,595
123
29, 38596
3,3593, 5889,014
82
33 2169 0224.58.305
108. 4582. 81
2251.2723.50
21.3220.7431.59
8,882
10, 2322,9347,202
96
28, 03385
2,9392,9029 096
80
35 2863 4029.87.325
2112.7990. 56
248. 8722.94
23.3221.9931.66
9,604
11,1923 3777,716
99
26, 50379
3,1902,7959 487
77
35 8867 8734.84.300
107. 4992 71
243. 1720.13
25.1221 9832.60
9 919
11, 7093 1238,473
113
24 80076
2 8383,3238 948
58
30 O9
70 2?34.24.291
111.0378 36
253. 4421 92
19.1117 3033.27
8,881
9 5982 0237,490
84
24 09883
2 7333 0468 641
58
37 8066 9732 59.300
114 9497 40
239. 8427 87
22 5020 5933. 04
10 345
10 2691 9288,215
196
24 12779
3 2113 1928 700
58
36 9663 8129 26
.305
116 6093 64
240. 8722 90
20 5920 3031.83
' 9 893
9 9882 6207,239
130
24 09691
3 0812 8568 890
64
40 0169 3840 65. 295
133 79105 03242. 41
24 79
23 4429 9131. 69
11 150
11 1093? 4297,518
162
24 19585
3 5603 4359 096
.274
' Revised. * Preliminary. c Corrected. J September data exclude estimates fortissue and miscellaneous papers.
2 Data for stereo and other elastomers (except polyurethane rubbers) are includedas follows: Production, beginning May 1961; consumption, Jan. 1961; stocks, Apr. 1961.
9 Data exclude estimates for "tissue paper."cT As reported by publishers accounting for about 75 percent of total newsprint consump-
tion in 1960.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S-38 SUEVEY OF CUREENT BUSINESS December 1061
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
STONE, CLAY, AND GLASS PRODUCTS
PORTLAND CEMENT
Production, finished cement thous. bblPercent of capacity _ __
Shipments, finished cement __thous. bblStocks, end of month:
Finished do_Clinker do
CLAY CONSTRUCTION PRODUCTS
Shipments:Brick, unglazed (common and face)
mil. standard brick- _Structural tile, except facing thous. sh . tons_.Sewer pipe and fittings, vitrified. doFacing tile (hollow), glazed and unglazed
mil. brick equivalent- _Floor and wall tile and accessories, glazed and un-
glazed mil sq ftPrice index, brick (common), f.o.b. plant or N.Y.
dock 1947-49=100
GLASS AND GLASS PRODUCTS
Flat glass, mfrs.' shipments (qtrly. total and qtrly.average) thous $
Sheet (window) glass, shipments doPlate and other flat glass, shipments do -
Glass containers:Production thous gross
Shipments, domestic, total doGeneral-use food:
Narrow-neck food doWide-mouth food (incl. packers' tumblers,
jelly glasses, and fruit jars)... thous. gross
Beverage doBeer bottles _ _ _ doLiquor and wine _ _ do
Medicinal and toilet doChemical, household and industrial doDairy products _ _ do
Stocks, end of month do
GYPSUM AND PRODUCTS
Crude gypsum, qtrly. avg. or total:Imports _ thous. sh tonsProduction do
Calcined production qtrly avg. or total do
Gypsum products sold or used, qtrly. avg. or total:Uncalcined uses thous sh tonsIndustrial uses doBuilding uses:
Plasters:Base-coat doAll other (incl Keene's cement) do
Lath mil sq ftWallboard doAll other § do
28, 21183
28, 164
31, 77220 045
604.843.4
164.4
34.4
21.0
139.0
83, 43333, 62649, 808
12, 867
12, 539
1,353
3,688
9411,0791,280
2,9171,114
166
16, 961
1,5332,725
2,317
99778
351320
586 51,519.8
65 8
26, 58875
26, 244
35, 51225, 516
«541.8° 40.7
a 154.5
33.9
19.4
141.2
70, 52426, 66243, 863
13, 358
12, 890
1,469
3,698
9581,3761,243
2,9011,095
151
20, 705
1,3262,459
2,148
91571
299299
477 61,458.6
59 4
31, 53387
33, 239
28, 84117 318
595.940.7
167.9
38.0
18 9
141.7
13,983
12, 876
1,461
3,963
570861
1,579
3,1561,139
147
20, 932
26, 46975
25, 232
30, 09516, 838
536.740.3
143.3
37.3
17.7
141.7
11,451
11,576
1,043
3,466
7241,0121,367
2,815996153
20, 686
20, 50556
15,116
35, 52520 954
342.432.5
108.1
31.9
16 6
141.7
75, 96431, 07644, 888
11,156
11,307
998
3,219
9651,2731,128
2,631915178
20, 250
1,5092,358
1,957
88771
273275
408.01,452.5
51 3
16, 74446
14, 302
37, 93925 952
341.632.0
114.6
30.8
15 2
141.4
12, 287
11,472
1,126
3,444
6091,1631,089
2,8671,026
148
20, 613
15,03845
14, 447
38 53129 763
322 827. 190.2
28.3
15 0
141.4
12 520
11 178
1 112
3,247
5961,0861,200
»• 2, 806995141
21, 830
21,85159
22, 148
38, 23732 250
483.237.4
128.0
34.8
19 1
141.4
59, 90622, 33337, 573
15,171
17, 472
2,161
4,809
1,0682,3381,422
4,0391,434
201
19,410
8502,003
1,732
74365
203299
360.01,209.8
43 4
26, 46374
24, 752
39, 99932 380
535.640.6
147.6
33.3
18 0
141.2
13, 538
10, 951
1,128
2,687
9501,5861,151
2,38597292
21, 777
31,10284
31,313
39, 78930, 999
625.340.7
165.9
39.1
20.0
141.2
14, 127
13, 547
1,186
3,423
1,3102,3091,243
2,99498597
22, 273
31, 59488
34, 030
37, 34628 960
640.438.3
178.7
39.8
21 0
141.2
60, 99626, 20434, 792
15, 243
15, 684
1,402
4,051
1,7563,1891,360
2,7611,047
118
21, 657
1,4572,499
2,178
99764
276277
438.91, 545. 9
64 2
32,51188
31, 980
37, 88926 189
606.537.2
161.2
37.4
18 1
141.4
14, 644
13,018
1,311
3,889
1 2691,9791,045
2,483928114
23, 070
33, 26289
37, 376
33 7682] 958
665.439.9
180.7
40.4
22 6
141 7
16 521
17 939
2 515
5,456
1 0482 1131,456
3,9411 220
190
21, 529
31, 47487
33, 468
31, 77418 704
r 594. 236.4
165.6
35.9
f-20 6
141.7
67 71230 63137, 081
13 815
13 636
2 341
4,154
7491,5151,257
2,564893163
21, 225
1,4222.609
2.282
1,16465
281303
466.91,689.4
63 8
32 34887
35, 681
28 45216 204
646.141.9
174.4
38.8
20 8
14 808
13 927
1 421
4,287
7761 4641, 655
3,1481 026
150
21, 871
TEXTILE PRODUCTS
APPAREL
Hosiery, shipments thous. doz pairsMen's apparel, cuttings: 1fcf
Tailored garments:Suits - - thous unitsOvercoats and topcoats do_
Coats (separate), dress and sport do.Trousers (separate), dress and sport— do
Shirts (woven fabrics), dress and sport- thous. doz.Work clothing:
Dungarees and waistband overalls do.Shirts do_ _
Women's, misses', juniors' outerwear, cuttings :d"Coats thous. units__Dresses doSuits do
Waists, blouses, and shirts thous. doz__Skirts do....
13,099
1,759503
8217,5771, 865
239329
2,06121,473
807
1,291701
12,600
1,786435
8418,2621,956
231304
1,95220,888
809
1,288712
13, 511
1,704392
8366,5961,908
208296
2, 36619,357
627
1,220776
1 3, 874
1,832264
8846,1721,892
184272
2,23519,749
647
1,183676
11,640
1 1, 7101200
18051 6, 290i 1, 970
i 1951245
1,36615,592
722
944393
12,360
1,484140
7966,2961,828
264252
1,70018,4131,290
1,239576
13,016
1,460172
7086,6161,840
264296
2,18522,1241,016
1,401681
14, 734
11,795i 225
1950i 7, 780U,970
12801350
2,13728, 9681,068
1,669889
11, 779
1,580344
9407,3121,592
264304
69626, 512
499
1,565753
12, 727
1,620504
1,0408,0961,768
308296
1,07724, 792
397
1,368760
14, 332
11,550i 545
i 96518,13511,975
12801285
1,98621, 867
843
1,388855
12, 381
936456
5446,3681,432
236236
2,08117,1881,004
1,161738
17, 331
1,788676
9648,9602,012
340324
2,83521, 7591,035
1,335854
14, 155
i 1, 5851470
1820i 7,615i 1,935
13201330
2,15517, 642
582
1,215612
16, 043
1,744360
1,0767,9362,020
320320
2,57621, 448
660
1,433773
' Revised. i Data cover a 5-week period.a Revisions for Jan.-Mar. 1960 follow (units as above): Brick, 354,3; 373.6; 393.6; structural
tile, 33.2; 32 9; 34.9; sewer pipe, 105.7; 105.8; 116.0.§Comprises sheathing, formboard, and laminated board.
or Dec. 1960 and Mar., June, and Sept. 1961 cover 5 weeks; other months,weeks.
cT Re visions for Jan. 1959-Aug. 1960 are available upon request.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
December 1961 SURVEY OF CURRENT BUSINESS S-39
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov.
TEXTILE PRODUCTS—Continued
COTTON
Cotton (exclusive of linters):Production:
Ginnings§ thous running balesCrop estimate, equivalent 500-lb. bales
thous. bales. .
Consumption^ __ .. doStocks in the United States, end of mo.,
total J _ doDomestic cotton total do
On farms and in transit doPublic storage and compresses doConsuming establishments do
Foreign cotton, total do
Exports doImports doPrices (farm), American upland cents per lb._Prices, middling 1", avg. 14 markets do
Cotton linters:Consumption^ thous balesProduction doStocks, end of mo _ do
COTTON MANUFACTURES
Spindle activity (cotton system spindles):^
Consuming 100 percent cotton do
Spindle hours operated, all fibers, total _mil_.
Consuming 100 percent cotton do
Cotton yarn, natural stock, on cones or tubes:Prices, f.o.b. mill:
20/2, carded, weaving__ $perlb._36/2 combed knitting do
Cotton cloth:Cotton broadwoven goods over 12" in width:
Production otrly avg or total mil lin ydOrders, unfilled, end of mo., as compared with
avg. weekly production No. weeks' prod_-Inventorics, end of mo., as compared with avg.
weekly production.. _No. weeks' prod_.
Exports thous. sq. yd-_Imports do
Mill marginsf. ..cents per lb_Prices, wholesale:
Denim, white back, 10 oz./sq. yd.cents per yd__
Print cloth 39 inch 68 x 72 doSheeting, class B, 40-inch, 48 x 44-48 do
MANMADE FIBERS AND MANUFACTURES
Fiber production, qtrly. avg. or total mil. lb_.qf 1 • ] f / \ ' / - --
Noncellulosic (nylon, acrylic, protein, etc.) -doTextile glass fiber (exc. blown glass wool and
pack) mil. lb_.
Exports:Yarns and monofilaments thous IbStaple tow and. tops do
Imports:Yarns and monofilaments doStaple, tow and tops do
Stocks, producers', end of mo.:Filament yarn (rayon and acetate) mil IbStaple incl tow (rayon) do
Prices, rayon (viscose; :Yarn, filament. 150 denier__ $ per lb__Staple 1 5 denier do
Manmade fiber broadwoven fabrics:Production, qtrly. avg. or totalj9 __mil. lin. yd__
Rayon and acetate (excl tire fabric) doNylon and chicflv nylon mixtures doPolyester and chiefly polyester blends*, .do
Exports, piece goods thous. sq. yd_.
SILKImports raw thous IbPrice, raw, AA, 20-22 denier $ per lb..Proauction, fabric, qtrly. avg. or total
thous. lin. yd—
' Revised. » Preliminary. 1 Total crop for yeto Jan. 15. * Data cover a 5-week period. 6 Les1961 crop. * Data are for month shown. 8 Re^3d qtr. 1960.
§Total ginnings to end of month indicated, excejIData for Dec. 1960 and Mar., June, and Sept. 1
4 weeks.
14,515
14, 558
748
15, 20015, 1283,360
10, 4981,270
72
30611
31.633.2
115124652
19, 28217, 642
10, 224473
9,356
.676
.941
2,401
14.8
3.5
39, 52020, 080
26. 98
36.516.817.2
472.4184.489 8
161.3
36.9
4,2282,816
4269,864
47.450.4
.8032
'617.7404.681 185.3
13, 834
6704.10
7,162
ar. 2 Qs than 5ision lor
3t as not961 cove
14, 265
14,272
726
'14, 447'14, 378
3,7119,1481,519
69
62811
30.131.4
'111134
'541
19, 26817, 589
10, 039464
9,190
.665
.938
' 2, 341
13.6
4.5
36, 54437, 908
29.89
38.217.417.2
' 455. 7163. 6
78 5169.3
'44.3
6, 6053,620
3795,142
63.456.1
.82
.29
' 594. 2' 358. 6
T 78 5r 106. 2
12, 871
5734.60
' 6, 791
innings t00 bales.2d qtr.
3d.r 5-week
8,420
667
'18, 924r 18, 829' 7, 860
9,9571.012
95
4391
31.530.2
'111226
'467
19, 24117, 618
9,204460
8,464
.646
.926
r 8 2 434
9.9
5.2
36, 17926, 610
28.59
38.315.816.5
8 480. 8
s 47. 3
6,9943,710
3454,171
68.355.1
.82
.28
' 8 610. 1' 8 370. 9
r «85 0' § 100. 3
14, 682
5444.86
' § 6, 352
o Dec. lie Dec
I960.
periods;
12, 576
644
17, 55717, 4684,113
12, 1121,243
89
721(5)30.130.2
93221530
19, 15117, 507
8,923446
8,178
.646
.926
r 9 2, 201
9.5
5.5
34, 50225, 896
27.99
38.315.316.6
9 446. 9
9 44. 3
6,5393, 557
2903,335
68.051.1
.82
.28
' 9 558. 6r 9 334. 3' ^76 5' 9 102. 3
13, 628
5444.75
' 9 6, 285
. 3 Gin. 1 estim9 Revisic
other me
13, 327
4 726
15. 85415, 7742,332
11,9671,475
80
9821
28.730.2
4108186591
19, 08517,471
10, 253410
49,426
.642
.924
' 2, 243
9.9
6.2
40, 81035, 294
26. 61
38.315.116.5
'418.8146.1
77 9157 9
'36.9
6,2433, 706
2364,326
65.253.9
.82
.28
' 577. 3* 338. 3'72 1
'117. 0
12, 464
4234.78
' 6, 785
ningsate of)n for
mths,
14, 052
637
14, 24514, 1721,408
11,1071,657
73
979(5)27.630.1
90198652
19, 02217, 450
8,760438
8,051
.642
.916
10.1
6.0
42, 32726, 326
26. 05
38.315.016.5
8,1783,029
2763,323
63.657.4
.82
.28
10, 907
5095.14
637
12, 76812, 7031,0739,8231,807
65
845(6)26.930.4
95153670
19, 06317, 451
8,940447
8,190
.629
.909
10.9
5.9
41, 65120, 618
25.37
38.315.016.3
5,9013,029
4443,076
59.858.4
.82
.28
11,331
3425.03
^Revisionsf Re vised
available upon9 Includes
1954-60 are avj
4795
11, 14011,083
8948,2441,945
57
8423
28.431.1
4 113138681
19, 05817, 430
11, 196448
* 10, 253
.634
.911
2,253
11.9
5.8
43, 91320, 868
24.32
38.315.016.0
'440 4148 290 0
170 2
'32 0
6,4614,036
4902,872
57.861.3
.82
.27
571.7341.665.6
117.2
13, 410
5225.12
5,781
for 1959series. £request,data n
lilable u]
647
9,9139,861
5697,2582,034
52
5843
29.431.4
104114662
19, 00817, 360
9,096455
8,330
.641
.911
11.6
5.7
38, 47316, 477
24.00
38.315.015.9
8,0463, 370
5272,277
58.461.3
.82
.27
11,334
4495.09
668
8,8778,827
4326,3542,041
50
3876
29.631.8
10484
594
19, 00017,346
9,312466
8,514
.641
.914
11.6
5.6
34, 43520, 764
23.68
38.315.015.9
6,4443,261
5041,870
59.957.0
.82
.26
11, 188
5665.20
are available upoee note in the S
ot shown separg)on request.
4824
7,8147,770
3935, 4361,941
44
2509
30.932.2
4 13350
517
18, 96617, 297
11,259450
10, 263
.641
.916
2,313
11.4
5.7
39, 97114, 338
23.51
38.315.015.9
'467 8154 692 5
' 188. 7
'32.0
4,4215,216
5192,629
60.856.3
.82
.26
578.5356.663.6
102.5
10, 046
5405.18
5,309n requesept. 1961
itely. *I
228
540
7,1637,123
4904,7491,884
40
3061
31.432.6
7739
471
18, 99217, 279
7,530376
6,798
.641
.924
15.2
7.0
26, 83716, 934
23.43
38.315.015.9
7,0594,216
5992,045
63.158.6
.82
.26
9,532
4195.21
686
690
19, 92019, 82513, 8214,2161,788
95
64592
32.633.1
10543
385
19,06517,270
9,550478
8,658
.641
.929
12.3
5.2
43, 96722, 219
23.94
38.315.316.3
5,4124,035
5552,695
59.155.3
.82
.26
10,758
7595.44
2,683
4847
18,80618,70112, 2314,8701,600
105
32224
32.833.4
M26105357
19, 10217, 344
411,579463
4 10,525
.660
.934
12.2
5.0
40, 83317, 026
24.62
38.315.3
'16.5
495.5160 7103.1189.0
42.7
6,0763, 250
7772,591
52.351.2
.82
.26
11,614
5245.38
8, 676
716
18, 00317, 8967,8658,4911, 540
106
3017
33.933.6
112222429
19,08917, 313
9, 685484
8,782
p . 665P. 940
11.5
4.8
40, 51821, 280
24.97
P38.3pl5. 3P16.8
7 57. 57 33. 6
7, 4054,552
6634,886
48.643.5
p. 82p. 26
13, 207
541P5.25
11 698
14, 304
33.133.6
24.99
t.SURVEY; data for Aug. 1957- June 1960 are
New series (Bureau of Census); data for
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
S--40 SURVEY OF CURBKXT BUSINESS December
Unless otherwise stated, statistics through 1960and descriptive notes are shown in the 1961edition of BUSINESS STATISTICS
1959 1960
Monthlyaverage
1960
Oct. Nov. Dec.
1961
Jan. Feb. Alar. Apr. May June July Aug. Sept. Oct. Xov.
TEXTILE PRODUCTS Continued
WOOL
Wool consumption, mill (clean basis) :ftApparel class thous IbCarpet class do
Wool imports, clean content doApparel class, clean content _ do
Wool prices, raw, clean basis, Boston:Good French combing and staple:
Graded territory, fine $ per lb__Graded fleece, % blood do
Australian, 64s, 70s, good topmaking, in bond$per lb_,
WOOL MANUFACTURES
Knitting yarn, worsted, 2/20s-50s/56s, Bradford
Woolen and worsted woven goods, exc. felts:Production, qtrly. avg. or total thous. lin. yd
Apparel fabrics, total doOther than Government orders, total do
Men's and boys' doWomen's and children's do
Prices, wholesale, suiting, f.o.b. mill:Flannel, men's and bov's 1947-49=100Gabardine, women's and children's do
21, 90114, 03425,11610, 201
1.2161.021
1.079
99 4
77, 70875, 86775, 45933 19342, 266
106. 091.5
20 35613, 55519, 5978,202
1. 1651.070
1.166
101 9r71,614r70 J89r 69, 365r28 697'40,668
107.292.3
17,62912, 22517, 6326,715
1.1251.036
1.075
98 5
"83,061'581,772"81,006"33 821"47,185
106. 392. 4
15, 87611, 73615,1826,225
1.1251.025
1.075
°7 2
'669,117'667,596r667,181'625 263'641,918
106. 392.4
'17 3981 13, 98614, 9537,606
1.1251.025
1.075
97 2
'59 049'57 523'55 969'22 227'33,742
106. 390.8
16 86512,09021, 5479,516
1.1251.025
1.075
96 0
104.090.8
17 91011,45718, 9757,305
1.125.988
1.075
104.090 8
1 22, 598i 11,95424, 43011,904
1.125.975
1.075
62, 88861 75860, 41024 58935, 821
104. 090.8
20 14410, 19822, 70612,078
1.150.992
1.100
104.090.8
22 79910, 64120, 85110, 238
1.2101 020
1.125
103.190.8
1 27 2061 12,92520, 49010, 134
1.2001.022
1.125
r78 479'77 232r76 734r30 464' 46, 270
103. 190. 8
19 1079,294
24, 64812, 223
1.2011.010
1.125
103.190 8
22 43013, 14619, 5518,357
1.2281 052
1.125
103.190 8
125 723'15,02920, 4928 962
1.2301 075
1.125
98 5
74 31172 83071,97024 42247, 548
r 104. 990 8
21 70913,87625, 0399,690
1.2081 075
1.125
97 2
104.990.8
1.2001 075
1. 125
TRANSPORTATION EQUIPMENT
AIRCRAFT
Manufacturers of complete types:Aircraft, engines, propellers, parts, etc:
Orders, new (net), qtrly. avg. or totalmil $
Sales (net), qtrlv avg or total doBacklog of orders, total, end of year or qtr.
mil. $For U S militarv customers do
Civilian aircraft :0Shipments mil $
Airframe weicht thous Ib
Exports (commercial and civilian) thous $
MOTOR VEHICLES
Factory sales, total thous_._Domestic do
Coaches, total numberDomestic do
Passenger cars, total thous_.Domestic do
Trucks total doDomestic do
Exports, total _ numberPassenger cars (new and used) doTrucks and buses do
Imports (cars trucks buses) totaled doPassenger cars (new and uscd)c? do
Production, truck trailers:Complete trailers total do
Vans doChassis van bodies, for sale separately do
Registrations-.O
Foreign cars .. .. _ doNew commercial cars do
RAILROAD EQUIPMENT
American Railway Car Institute:Freight cars:
Shipments, total _ numberE quipment manufacturers doRailroad and private-line shops, domestic
numberNew orders total do
Equipment manufacturers doRailroad and private-line shops, domestic
numberUnfilled orders, end of mo , total do
Equipment manufacturers doRailroad and private-line shops, domestic
number. _
Passenger cars (equipment manufacturers):Shipments total doUnfilled orders end of mo total do
Association of American Railroads:Freight cars (class 1) : §
Number owned end of year or mo thousHeld for repairs % of total owned
2, 5512 814
12,1205 452
75.01,928
12.391
5f>0. 7534 7
212184
465. 9456 2
94 678 3
23, 6559. 573
14 083
59 69157, 807
5, 7223 375
561
503 451.278.5
3, 2042,097
1,1074 7803,273
1 50736, 61516 342
20, 273
6140
1,6787.2
2, 8432 749
1 2. 4965 406
103.42,347
44, 758
655. 8625 7
347323
556. 2544 299 281 2
27, 65610,48317 173
41 ?7939, 271
4, 8752 916
545
548 141.678.6
4, 7763,124
1,6522 9631,872
1,09131, 97714 758
17, 219
20265
1,6629.4
81. 11,912
30, 589
703. 2671 8
447396
627. 7610 8
75 060 6
26, 64314. 18212 461
26 68824,811
3. 7712 164
4 184
547 536,774.2
4, 6573, 185
1,4725 664
906
4, 75822, 9057,616
15,289
33223
1,6668.9
88.12,028
37, 580
687. 8654 9
338307
600. 5580 787.073 9
26. 4611 5, 96510 496
21,21519, 985
3, 6562 218
4 99
543 032.567.5
3,9442,210
1,7343 7322,692
1,04022, 7818,178
14, 603
21202
1,6649.2
2,8742 841
1 2, 4965 406
82.32, 100
36, 253
613. 9587 8
251231
520. 7507 892.979 8
30, 89712( 34318 554
29 06527, 443
3, 1331 879
389
544 332. 373.2
4,2912,661
1,6302 1741,484
69021, 0706 857
14, 213
26176
1,6629.4
82.11,996
20, 195
485. 9462 8
278278
406. 6395 1
79.067 4
19, 92710,3159 612
26, 02124, 293
3, 0451,738
531
413 625.662.3
' 3, 676r 2, 422
1, 254' 1 383
••631
75218, 8945,023
13, 871
14162
1,6599.7
81.81,915
28, 282
448.2419 0
198196
363. 2351 1
84 867 7
20, 42410, 4969, 928
23, 48222, 099
3,0981,817
768
374 926. 859. 3
'2, 050'849
1.201T 1, 607' 509
1,09818, 4294,669
13, 760
31131
1,6549.9
83.41,988
32, 590
526. 1490 3
255254
425,9410 599 979 6
27,31413.46413 850
24 26823, 173
4, 1752 460
603
480 134.172.5
* 3, 896' 2, 202
1,6941,8021,795
715, 8074,284
11, 523
44112
1,6509.6
100.22,198
38, 634
547. 7520 8
425
453. 4442 793.977 6
23, 1769, 589
13 587
22, 42521, 684
- 3,8382, 102
582
496 133.274.3
2, 9331, 156
1,7772 040
824
1, 21613, 6643,902
9,762
3181
1,6469.7
114.72, 451
28,516
641. 6615 0
375372
539. 9529 4101.485 2
23, 8549, 443
14 411
26, 29725, 336
4,2102, 304
533
544 034.985.2
3,3601,588
1,772'3 698' 2, 077
1,62113,9704,344
9,626
18116
1,6429.9
97.52, 160
61, 572
681.8644 1
397380
567. 6557 1113.886 7
24, 2477, 980
16 267
23, 89223, 472
4. 6792,753
526
572 037.081.0
3,1422,085
1, 0571,2171,082
13511, 8303,341
8,489
8294
1.6389.3
67.71, 510
9, 839
498.0473 2
344321
407.3400 090 372 8
28, 6178, 295
20 322
20 98520, 313
3.7572 259
515
500 533.883.9
1,234764
4702 5892,431
15810, 7855,008
5,777
13281
1,6289.3
60 41,317
31, 528
243.5224 2
288270
172.8168 4
70 455 5
'20,900'3,577
'17 323
19 78719, 673
4, 8583 018
406
470 635.182.0
2,4281,701
727r 1 459r 1, 394
659,8314,716
5,115
21260
1,6249.5
r 61 51,354
25, 395
451.4426 6
(3)(3)
367. 4359 83 84 13 66 8
'17,416'5,910
'11 506
22 59122, 127
4, 3602 782
2-15
370 533.374.6
'2,811' 2, 125
6863, 1431,280
1, 86310, 2103,918
6,292
14246
1,6219.4
79.81,778
11,426
638. 3608 3
(3)(3)
545. 15°9 4s 93. 13 78 9
19. 6829. 200
10 482
28 85428, 344
549 632. 582. 9
1, 9081,205
7032 086
944
1, 14210, 3733 642
6,731
7239
1,6149.1
' 2 753.<
(3)
' • •2( i46. , ]
'^' 3106.!
© Data include military-type planes shipped to foreign governments.d1 Data cover complete units, chassis, and bodies.©Courtesy of R. L. Polk & Co.; republioation prohibited.§ Excludes railroad-owned private refrigerator cars and private line cars.
r Revised. *> Preliminary. ' Data cover 5 weeks. 2 Preliminary estimate of produc-tion. 3 Figures for coaches are included with trucks. 4 Excludes data for van bodies.
8 Revision for 2d qtr. 1960. 6 Revision for 3d qtr. 1960.^Datafor Dec. 1960 and Mar., June, and Sept. 1961 cover 5 weeks; other months, 4 weeks.I Revisions for 1959 are available upon request.
Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis
INDEX TO MONTHLY BUSINESS STATISTICS, Pages S1^
SECTIONS
General:Business indicators 1-7Commodity prices 7, 8Construction and real estate 9,10Domestic trade 10-12
Employment and population , 12—16Finance 16-21Foreign trade of the United States 21-23Transportation and communications 23, 24
Industry:Chemicals and allied products 24, 25Electric power and gas 26Food and kindred products; tobacco 26-30Leather and products 30, 31
Lumber and manufactures 31Metals and manufactures 3 2-34Petroleum, coal, and products 35, 36Pulp, paper, and paper products 36, 37
Rubber and rubber products .. 37Stone, clay, and glass products 38Textile products 38-40Transportation equipment 40
INDIVIDUAL SERIESAdvertising 10, 11Agricultural loans 16Aircraft and parts 3, 13-15,40Airline operations 23Alcohol, denatured and ethyl 25Alcoholic beverages 8, 10, 26Aluminum 33Apparel 1, 3, 4, 7, 8, 10-15, 38Asphalt and tar products 35, 36Automobiles, etc___ 1, 4-6, 8, 10, 11, 13-15, 19, 22, 40
Balance of international payments 2Banking 16, 17Barley 27Barrels and drums 32Battery shipments 34Beef and veal 28Beverages 4, 8, 10, 26Blast furnaces, steel works, etc 13-15Bonds, outstanding, issued, prices, sales,
yields 18-20Brass and bronze 33Brick. _- 38Brokers' balances . 20Building and construction materials- 8-10, 31, 36, 38Building costs 9, 10Business incorporations (new), failures 7Business population 2Business sales and inventories 4,5Butter 27
Cans (tinplate) 32Carloadings 23, 24Cattle and calves 28Cement and concrete products 8-10, 38Cereal and bakery products 8Chain-store sales, firms with 4 or more and 11
or more stores 12Cheese 27Chemicals 4-6, 8, 13-15, 19, 22, 24, 25Cigarettes and cigars 8, 10, 30Civilian employees, Federal 14Clay products 8,38Coal 4, 8, 13-15, 22-24, 35Cocoa 23, 29Coffee 23, 29Coke 23, 24,35Communications 13-15, 19, 20, 24Confectionery, sales 29Construction:
Contracts 9Costs 9, 10Employment, hours, earnings, wages 13-16Highways and roads 9, 10Housing starts 9New construction put in place 1, 2, 9
Consumer credit 17, 18Consumer expenditures 1, 2Consumer goods output, index 3,4Consumer price index 7Copper _ _ 23,33Corn 27Cost of living (see Consumer price index) 7Cotton, raw and manufactures 7, 8, 21, 22, 39Cottonseed cake and meal and oil 30Credit, short- and intermediate-term 17, 18Crops 3, 7, 27, 28, 30, 39Crude oil and natural gas 4, 13-15, 35Currency in circulation. 19
Dairy products 3, 7, 27Debits, bank 16Debt, U.S. Government 18Department stores 11, 12, 17Deposits, bank™ 16, 17, 19Disputes, industrial 16Distilled spirits 26Dividend payments, rates, and yields 3, 18-21Drug stores, sales. 11,12
Earnings, weekly and hourly 14-16Eating and drinking places 11, 12Eggs and poultry 3, 7, 29Electric power 4, 8, 26Electrical machinery and equipment 3,
5,6, 13-15, 19, 22,34Employment estimates 12-14Employment Service activities 16Expenditures, U.S. Government 18Explosives 25Exports (see also individual commodities) 1,
2,21,22Express operations 23
Failures, industrial and commercial 7Fans and blowers 34Farm income, marketings, and prices 1, 3, 7Farm wages 16Fats and oils 8,29,30Federal Government finance 18Federal Reserve banks, condition of 16Federal Reserve reporting member banks 17Fertilizers 8, 25Fire losses 10Fish oils and fish 29Flooring, hardwood 31Flour, wheat__ 28Food products___ 4-8, 10, 11, 13-15, 19, 22, 23, 27-30Foreclosures, real estate . 10Foreign trade 21-23Foundry equipment 34Freight carloadings 23, 24Freight cars (equipment) 4,40Fruits and vegetables 7, 8, 22Fuel oil _ _ 35,36Fuels 4, 85 35, 36Furnaces 34Furniture 3,4,8, 10-15, 17Furs . 23
Gas, output, prices, sales, revenues 4, 8, 26Gasoline 1,35,36Glass and products 38Glycerin 25Gold 2,19Grains and products 7, 8, 22-24, 27, 28Grocery stores 11, 12Gross national product.. 1, 2Gross private domestic investment- 1, 2Gypsum and products... 8,38
Hardware stores 11Heating equipment 8,34Hides and skins 8,30Highways and roads 9, 10Hogs 28Home Loan banks, loans outstanding 10Home mortgages 10Hosiery 38Hotels 14, 15, 24Hours of work per week 14Housefurnishings 1, 4, 7, 8, 10-12Household appliances arid radios 4, 8, 11, 34Housing starts 9
Imports (see also individual commodities)-_ 1,Income, personal .Income and employment tax receiptsIndustrial production indexes:
By industryBy market grouping
Installment creditInstallment sales, department storesInstruments and related products 3,Insulating materials .Insurance, life .Interest and money ratesInventories, manufacturers' and trade 4-6,Inventory-sales ratiosIron and steel, crude and manufactures
5,6,8, 10, 19,22, 23,
Labor disputes, turnover_Labor forceLamb and muttonLard_Lead_
21-232,318
3,43,4
17,1812
13-1534
18,1917
11, 125
3,32,33
1612282833
Leather and products- 3, 8, 13-15, 30, 31Life insurance 18, 19Linseed oil 30Livestock 3, 7,8, 24, 28Loans, real estate, agricultural, bank, brokers'
(see also Consumer credit) 10, 16, 17, 20Lubricants 35,36Lumber and products 3, 5, 6, 8, 10-15, 19, 31
Machine tools . 34Machinery 3,5,6,8, 13-15, 19,22,34Mail order houses, sales 11Manmade fibers and manufactures 8,39Manufacturers' sales, inventories, orders 4-6Manufacturing employment, production work-
ers, payrolls, hours, earnings 13-15Manufacturing production indexes 3,4Margarine 29Meats and meat packing 3, 7, 28Medical and personal care 7Metals , _ > . 4-6, 8, 13-15, 19, 23, 32-34Milk 27Mining and minerals 2-4,8, 13-15, 19, 20Monetary statistics 19Money supply- 19Mortgage loans__ 10, 16, 17Motor carriers 23Motor vehicles 1, 4-6, 8, 10, 11, 13-15, 19, 22, 40Motors and generators 34
National defense expenditures 1, 18National income and product 1, 2National parks, visits__ 24Newsprint 23, 37New York Stock Exchange, selected data 20, 21Nonferrous metals 8, 19, 23, 33, 34Noninstallment credit 17
Oats 27Oil biirners 34Oils and fats 8,29,30Orders, new and unfilled, manufacturers' 6Ordnance 13—15
Paint and paint materials 8, 25Panama Canal traffic 24Paper and products and pulp 3,
5,6,8, 13-15, 19,23,36,37Parity ratio 7Passports issued 24Payrolls, indexes 14Personal consumption expenditures 1, 2Personal income 2, 3Petroleum and products 4-6,
8, 11, 13-15,19,22,23,35,36Pig iron . 32Plant and equipment expenditures 2, 20Plastics and resin materials 25Plywood 31Population 12Pork . 28Postal savings 17Poultry and eggs 3, 7, 29Prices (see also individual commodities) 7, 8Printing and publishing 4, 13-15Profits, corporate 1, 19Public utilities. 2-4, 7-9, 13-15, 18-21Pullman Company 24Pulp and pulpwood 36Purchasing power of the dollar 8
Radiators and cpnvectorsRadio and television 4,8, 10,Railroads 2, 13, 14, 16, 18-21, 23,Railways (local) and bus lines 13-Rayon and acetateReal estate 10,Receipts, U.S. GovernmentRecreationRefrigerators and home freezersRent (housing)Retail trade- 4,5,7,9,11-RiceRoofing and siding, asphaltRubber and products 4-6, 8, 13-15,Rye ,
Saving, personalSavings depositsSecurities issuedServices 1, 2,Sheep and lambsShoes and other footwear 1, 8, 11,Silk, prices, imports, productionSilverSoybean cake and meal and oilSpindle activity, cottonSteel ingots and steel manufacturesSteel scrap,,Stock prices, earnings, sales, etcStocks, department stores.Stone, clay, and glass products
8, 13-15,Stoves and rangesSugarSulfurSulfuric acidSuperphosphate _ _
Tea importsTelephone, telegraph, cable, and radiotele-
graph carriers 13-15, 19,Television and radio 4, 8, 10,Textiles and products.. 3, 5, 6, 8, 13-15, 19, 22,TinTires and inner tubes 8, 11,Tobacco and manufactures 4—8, 10, 13-TractorsTrade (manufacturing, wholesale, and re-
tail) 4-6,Transit lines, localTransportation 1, 2, 7,Transportation equipment 3—6, 13—15,TravelTruck trailersTrucks (industrial, motor)
3411,3424,4015, 23
3917, 18
187
347
15, 172736
23, 3727
217
19, 2013-15
2812,318,39
193039
32,3332
20, 2112
3-6,19,38
3423,29
252525
29
20,2411,3438-4023, 3312,3715,3022,34
11, 1223
23,2419,40
2440
34,40
Unemployment and insurance 12,16U.S. Government bonds 16-18, 20U.S. Government finance 18Utilities 2-4, 9, 13-15, 18-21, 26
Vacuum cleaners 34Variety stores 11,12Vegetable oils 29, 30Vegetables and fruits 7, 8, 22Vessels cleared in foreign trade 24Veterans' benefits 16,18
Wages and salaries.. 1, 3, 14-16Washers 34Water heaters 34Waterway traffic 24Wheat and wheat flour 28Wholesale price indexes 8Wholesale trade 4, 5, 12Wood pulp_ 36Wool and wool manufactures 7, 8, 23, 40
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Volume 41 Survey of Current Business
1961 Indexof Special Articles and Features
Numbers 12
SPECIAL ARTICLES
No.Developments in the Consumer Market 1Analysis of National Output and Income , . 2Foreign Business and Investment 2Pattern of Production and Trade . . . . . . . . . . . . . . 2Energy Output and Use Related to the Gross
National Product 21961 Business Investment and Sales Expectations. 3State and Local Government A c t i v i t y . . . . . . . . . . 3Personal Income Flow by States in 1960 4Business Fluctuations: Influence of Personal
Credit Buying and Saving. 4Size Distribution of Personal Income, 1957-60., . 5Retail Trade and Use of S e r v i c e s . . . . . . . . . . . . . . 5Debt Rise in 1960 5The U.S. Balance of International Payments. . . . 6Growth of Foreign Travel 6
No.Recent Price Developments 1Inventory Reduction Underway 1Commodity Transportation 1Record National Income in 1960 1The Balance of International Payments in 1960.. 3Production Levels Off 4Inventory Reduction Continues. 4Residential Construction and Financing 5National Product and Income Off in First
Quarter 5Public and Institutional Construction. 6Business Population Rise Extended in 1960. . . . . . 61961 Business Investment 6Manufacturing Activity, First Half of 1961 . . . 8National Product and Income Recovers in Sec-
ond Quarter . 8Expansion in Incomes . . . . . . . . . . . . 9
Page
13 National Income and Product in 1960. .3 Consumer Incomes Up in All Regions in 1960. . .
16 United States Assets and Investments Abroad . . . .20 Manufacturers' Inventory and Sales Expectations.
New Light on Patterns of Output G r o w t h . . . . . .28 Foreign Capital Outlays and Sales of U.S. Com-11 panics16 Foreign Business Investments in the United
9 States ,Expansion of Government Programs—During
14 Fiscal Year 196211 Consumption Expenditures in Recovery Phase. - .22 Corporate Financing in 1961 and in Recent Busi-29 ness Cycles
9 Recent Developments in International Trade and16 Investments
FEATURES
Page34695453
54562
53
Capital Investment To RiseThe Balance of International Payment in the
Second QuarterIndustrial ProductionManufacturers' Inventory and Sales Expecta-
tionsAgricultural Income and Production . . . . .National Income and Profits.Rise in National Income and ProductExpansion in Plant and EquipmentManufacturers Expect Higher Sales and Inven-
toriesAdvance i n Housing Construction . . . . . . .Pattern of Retirement and Other Transfer In-
come Flow .Corporate Profits and National Income . . . .
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