erp1947 my appendixes 3

APPENDIX B

STATISTICAL TABLES RELATING TO EMPLOYMENT, PRODUCTION, AND

PURCHASING POWER

TABLE I.—Gross national product or expenditure, 1929-47l

[Billions of dollars]

Period

1929 . . .19301931 . . . . . . .19321933 . . . . . .19341935 . . .19361937. . .1938. „ . . ,1939 . . .19401 9 4 1 . . .19421943 . . .19441945 . . .1946 _

1946:I.III l lIV. . . .

1947:First half2

Grossnationalproduct

103.890.975.968.355.864.972.284.790.284.790.4

100.5125.3159.6192.6210.6213.1203.7

191.7197.0207.5218.6

225.0

Personalconsump-tion ex-

penditures

78.870.861.249.246.351.956.262.567.164.567.572.182.390.8

101.6110.4121.7143.7

Grossprivate

domesticinvest-ment

15.810.25.4.9

1.32.86.1

10.511.46.39.0

13.017.29.34.65.79.1

24.6

Netforeigninvest-ment

0.8.7.2.2.2.4

- . 1—.1

.11.1

.91.51.1

- . 2- 2 . 2- 2 . 1—.84.8

Seasonally adjusted annual rates

134.3138.2147.3154.9

158.0

18.622.327.030.4

29.5

q q6.14.55.2

10.0

Govern-ment

purchasesof goods

andservices

8.59.29.28.18.09 89.9

11 711.612.813.113.924.759.788.696.683.130.7

35.430.328.628.2

27.5

1 The figures in this table are based on the revised series on national income and product of the Departmentof Commerce. For explanation of revisions see the Department of Commerce supplement to the July 1947Survey of Current Business entitled, "National Income and Product Statistics of the United States,1929-46."

2 Estimates based on incomplete data.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (revised series).

61

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

62 MIDYEAR ECONOMIC REPORT OF THE PRESIDENT

TABLE II.—National income by distributive shares, 1929-47 l


Period

192919301931 __-.193219331934193519361937193819391940194119421943194419451946

1946:IIIIIII V .

1947:First half 7.

Totalnation-al in-

come2

87.475.058.941.739.648.656.866.973.667.472.581.3

103.8136.5168. 3182.3182.8178.2

Com-pensa-tion of

em-ploy-ees 3

50.846.539.530.829.334.137.142.747.744.747.851.864.384.7

109.1121.2122.9116.8

Proprietors' and rentalincome4

Total

19.715.711.87.47.28.7

12.114.815.414.014.716.320.828.132.134.437.141.8

Busi-nessandpro-fes-

sional

8.37.05.33.22.94.35.06.16.66.36.87.79.6

12.114.115.316.719.7

Farm

5.73.92.91.72.32.34.96.15.64.44.54.9.6.9

10.611.812.413.515.2

Rent-al in-come

ofper-sons

5.84.83.62.52.02.12.32.73.13.33.53.64.35.46.26.77.06.9

Corporate profits and inventory val-uation adjustment

Total

10.36.61.6

- 2 . 0- 2 . 0

1.13.04.96.24.35.89.2

14.619.823.723.519.716.5

Corporate profits

Profitsbeforetaxes !

9.83.3

- . 8-3 .0

.21.73.25.76.23.36.59.3

17.221.124.523.820.221.1

Taxliabil-ity 6

1.4.8.5. 4.5.7

1.01.41.51.01.52.97.8

11.714.213.911.38.6

Profitsafter

taxes 5

8.42.5

- 1 . 3- 3 . 4

l'.O2.34.34.72.35.06.49.49.4

10.49.98.9

12.5

Inven-toryvalu-tion

adjust-ment

0.53.32.41.0

- 2 . 1- . 6- . 2—.7(6)1.0

-!i— 2. 6- 1 . 3

- . 8- . 4- . 5

- 4 . 7

Netinter-est

6.56.25.95.45.04.84.54.54.44.34.24.14.13.93.43.23.13.2


168.2173.5179.9191.0

199.0

111.5114.0119.2122.2

125.3

39.439.241.946.7

46.9

18.518.619.922.0

22.2

14.113.815.217.8

17.6

6.96.86.87.0

7.1

14.217.215.618.8

23.5

15.219.422.927.1

29.0

6.18.09.3

11.0

11.6

9. 111.513.516.1

17.4

—1.0- 2 . 3- 7 . 3- 8 . 3

- 5 . 5

3 13.23.23.2

3.3

1 The figures in this table are based on the revised series on national income and product of the Depart-ment of Commerce. For explanation of revisions see the Department of Commerce supplement to theJuly 1947 Survey of Current Business entitled, "National Income and Product Statistics of the UnitedStates, 1929-46."

2 National income is the total net income earned in production by individuals or businesses. The conceptof national income currently used differs from the concept of gross national product in excluding depreciationcharges and other allowances for business and institutional consumption of durable capital goods. A recon-ciliation between these two series and personal income is shown in appendix A, table II, for selected periods.

* Includes wages and salaries, employer contributions for social insurance, and other labor income.* Includes noncorporate inventory valuation adjustment.« Federal and State income and excess-profits taxes.* Less than 500 million dollars.* Estimates based on incomplete data.



MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 63

TABLE III.—Personal income, 1929-47 l .FBillions of dollarsl

Period

1929.19301931.19321933.1934.19351936.1937.193819391940.1941.1942.1943.1944.1945.1946.

1946:I . . .I I . . . .I l lIV.

1947:First half«.

Totalpersonalincome 2

85.176.264.849.346.653.259.970.674.068.372.678.395.3

122.2149.4164.9171.6177.2

Wage andsalary

receipts 3

50.045.738.730.128.733.436.341.645.442.345.148.960.980.5

103.5114.9115.2109.2

Otherlabor

income

0.5.5.5.4.4.4.4.5.5.5.5.6.6.7.9

1.31.51.6

Proprie-tors' and

rentalincome

19.715.711.87.47.28.7

12.114.815.414.014.716.320.828.132.134.437.141.8

Divi-dends

5.85.54.12.62.12.62.94.64.73.23.84.04.54.34.54.74.85.6

Personalinterestincome

7.57.17.06.66.26.05.75.65.65.55.45.45.45.45.56.06.87.7

Transferpayments


168.7172.5179.5187.5

191.1

102.6107.0111.8115.4

117.8

1.61.61.61.6

1.7

39.439.241.946.7

46.9

5.15.45.65.9

6.2

7.67.77.77.7

7.7

12.511.610.910.3

10.8


2 Formerly called income payments.3 Total employer disbursements less employee contributions for social insurance.4 Estimates based on incomplete data.




TABLE IV.—Disposition of personal income, 1929-^7 x


Period

1929 . _193019311932193319341935... . .1936193719381939194019411942194319441945. .1946

1946:

II . _ _IIIIV

1947:First half *

Personalincome

85.176.264.849.346.653.259.970.674.068.372.678.395.3

122.2149.4164.9171.6177.2

Less: Per-sonal taxand non-tax pay-ments

2.62.51.91.51.51.61.92.32.92.92.42.63.36.0

17.818.920.918.8

Equals:Disposablepersonalincome

82.573.763.047.845.251.658.0-68.371.165.570.275.792.0

116.2131.6146.0150.7158.4

Less: Per-sonal con-sumptionexpendi-

tures

78.870.861.249.246.351.956.262.567.164.567.572.182.390.8

101.6110.4121.7143.7

Equals:Personalsaving

3.72.91.8

-1 .4-1 .2- . 21.85.83.91.02.73.79.8

25.430.035.629.014.8


168.7172.5179.5187.5

191.1

17.818.719.119.5

21.5

150.9153.8160.4168.0

169.6

134.3138.2147.3154.9

158.0

16.615.513.113.1

11.6


2 Estimates based on incomplete data.



MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 65TABLE V.—Disposable personal income, population and consumers* price index,

1929-47

Period

19291930. -.19311932 . . .1933.-.193419351936 . _ _.1937 _19381939 _ _19401941194219431944 _19451946- . . _ .

1946:III _ _I l lIV _

1947:First half e

Disposablepersonalincome(billions

of dollars) *

82.573.763.047.845.251.658.068.371.165.570.275.792.0

116.2131.6146.0150.7158.4

Seasonallyadjusted

annual rates

150.9153.8160.4168.0

169.6

Population(thousands) *

121, 770123,077124,040124,840125,579126,374127.250128,053128,825129,825130,880131,970133,203134,665136,497138,083139,586141,229

«140,549«140,9855141,547* 142,288

143,338

Consumers'price index(1944=100)

97.695.186.677.873.676.378.279.081.880.379.279.883.892.898.5

100.0102.3111.0

Not adjustedfor seasonal *

103.5105.2114.5120.6

123.7

Per capita disposablepersonal income

Currentdollars

678599508383360408456533552505536574691863964

1,0571,0801,122

1944dollars 3

695630587492489635583675676629677719826930979

1,0571,0561,011

Seasonally adjustedannual rates

1,0741,0911,1331,181

1,183

1,0381,037

990979

956

1 Based on the revised series on national income and product of the Department of Commerce. Forexplanation of revisions see the Department of Commerce supplement to the July 1947 Survey of CurrentBusiness entitled, "National Income and Product Statistics of the United States, 1929-46."

2 Estimated population of continental United States, including armed forces overseas; annual data as ofJuly 1 and quarterly data as of middle of quarter.

3 Current dollars divided by the consumers' price index on 1944=100 base to give a rough measure ofchanges in buying power of disposable income.

< A small part of the increase may be seasonal.5 Interpolated from published data.• Estimates based on incomplete data.Sources: Department of Commerce (disposable income and population) and Department of Labor

(consumers' price index).



TABLE VI.—Total consumer credit, 1929-47

Estimated amounts outstanding

[Millions of dollars]

End of year or monthTotal

consumercredit

7,6376,8295,5264,0933,9294,3965,4396,7967,4917,0647,9949,1469,8956,4785,3345,7766,637

10,147

6,4276,5306,9847,3687,6077,9058,0258,3628,6319,0139,527

10,147

9,9679,910

10,21610,41310,664

Installmentcredit i

3,1672,6962,2121,5261,6051,8672,6273,5263,9713,6124,4495,4485,9202,9481,9572,0342,3653,976

2,3642,4042,5032,6492,7832, 9023,0223,1653,2883,4583,6463,976

4,0484,1574,3294, 543'4,747

Otherconsumercredit *

4,4704,1333,3142,5672,3242,5292,8123,2703,5203,4523,5453,6983,9753,5303,3773,7424,2726,171

4,0634,1264,4814,7194,8245,0035,0035,1975,3435,5555,8816,171

5,9195,7535,8875,8705,917

1929 _ . . .19301931.—1932 1...19331934 ,193519361937193819391940194119421943 . .1944.19451946.

1946:January. __February..MarchAprilMayJuneJulyAugustSeptember.October....November.December.

1947:January. . .February..MarchAprilMay

1 Includes automobile and other sale credit and repair and modernization loans insured by the FederalHousing Administratioa.2 Includes noninstallment consumer loans (single-payment loans of commercial banks and pawnbrokers),charge accounts, and service credit.

Source: Board of Governors of the Federal Reserve System.


MIDYEAR ECONOMIC REPORT OF THE PRESIDENT

TABLE XV.—New construction activity, 1929-47

{Millions of dollars]

75

Year orquarter

192919301931...193219331934193519361937 _-193819391940194119421943 -1944 -19451946

11I I » . —IIIi—IV i. . .

1947:IK....II i« . . .

Totalnewcon-

struc-tion

9,9138,0595,9803,2602,2232,7563,1104,7145,3085,0186,0626,807

10,30813,3537,7344,0734,6099,8901,5242,3003,1042,962

2,4602,896

Private construction

Totalprivate

7,5225.3063,4161,4821,0051,2211,6482,4863,2742,9413,6194,1995,2382,9081,6691,7462,5617,7391,2571,8622,3762,244

1,9482,167

Resi-dentialbuild-

ing

2,7971,4461,228

462278361665

1,1311,3721,5112,1142,3552,7651,315

650535684

3,183432722

1,0271,002

8691,014

Non-resi-

dentialbuild-

ing

2,8222,0991,104

499404455472712

1,088764785

1,0281,486

635232350

1,0143,350

632843953922

782735

Otherprivate

1,9031,7611,084

521323405511643814666720816987958787861863

1,206193297396320

297418

Public construction

Totalpublic

2,3912,7532, 5641,7781,2181, 5351.4622,2282,0342,0772,4432,6085,070

10,4456,0652,3272,0482,151

267438728718

512729

By funds

Fed-eral

237338451510540698822

1,2551,143

9761,2511,4063,8459,5315,6051,9121,5581,067

140199344384

236267

Stateandlocal

2,1542,4152,1131,268

678837640973891

1,1011,1921,2021,225

914460415490

1,084127239384334

276462

By types

Mili-taryandfed-

erallyfinancedindus-trial

19294034385839333974

148549

2,9008,4534,2181,3441,160

27267617074

4756

High-wajrs

1,2481,4811,323

916675821622876850837835875

• 85067545036034270660

149265232

119300

Otherpublic

1]]

:

]

,12,24,201

82S505656801

L, 319L,145L, 166L,460L, 184L, 320L, 317L, 397

623546

L, 173140228393412

346373

1 Not adjusted for seasonal variation.2 Estimates based on incomplete data.Source: Departments of Commerce and Labor.

749764—47-



TABLE XVI.—Business inventories and sales, 1989-47

Year or month

Manufacturing *

Millions of dollars

Inven-tories < Sales«

Ratio ofinven-

tories tosales

Wholesale»»

Millions of dollars

Inven-tories < Sales*

Ratio ofinven-

tories tosales

Retail

Millions of dollars

Inven-tories*

5,2845,4846,0407,523

6,4386, 2736,6286,8266,9897,1717,5757,7308,0378,6848,7979,130

9,3849,4329,5629,4879,442

Sales'

3,5043,8664,6248,063

7,6547,8397,7847,6057,6357,6927,9718,4208,2648,3878,7968,705

8,8999,0388,9428,8328,836

Ratio ofinven-

tories to

1939 average1940 average1941 average1946 average

1946:JanuaryFebruary.MarchAprilMayJune...July...AugustSeptemberOctoberNovemberDecember

1947:JanuaryFebruaryMarchAprilMay

9,94111,17113,37917,817

16,36916,59016,82916,83716,93417,17518,01018,466

19,53319,89620,259

20,80521,17621,61222,06122,408

4,7415,4827,78310,4/2

8,9138,1639,5079,95610,0589,7029,97611,15710,73812,24012,42612,849

13,22612,94013,93713,89813,723

2.102.041.721.70

1.842.031.771.691.681.771.811.661.761.601.601.58

1.571.641.551.591.63

2,4792,6193,0263,423

3,0412,9813,0483,1093,1613,2423,3183,4633,6343,7844,0464,245

4,4254,5644,6824,8004,781

1,9612,1832,8524,646

4,2234,2874.1594,3814,4854,3614,7304,7894,8166,2036,1105,204

6,4185,3145,1635,2265,173

1.261.201.06.74

1.511.421.31

.84

.80

.85

.90

.92

.93

.95

.92

.971.041.001.05

1.051.041.071.071.07

i Not adjusted for seasonal variation.1 Adjusted for seasonal variation.» Service and limited function wholesalers only.* Book value, end of month.»Total for month.

Source: Department of Commerce (Office of Business Economics).


MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 77TABLE XVII.—Sales, stocks, and outstanding orders at 296 department stores,

1939-47

Year or month

Millions of dollars

Sales(total formonth)

128136156179204227255318

224239301319304304244303309341404526

256250332321332

Stocks(end ofmonth)

344353419599508534564714

491533583644674699735806828879919776

769838865849810

\Jllli'standing

orders(end ofmonth)

108194263530560728907

899979971910934

1,0481,0731,012

960845691557

619603485387348

Ratio ofstocks to

sales

2.692.602.693.352.492.352.212.25

2.192.231.942.022.222.303.012.662.682.582.271.48

3.003.352.612.642.44

Ratio oforders to

sales

0.791.241.472.602.472.852.85

4.014.103.232.853.073.454.403.343.112.481.711.06

2.422.411.461.211.05

Ratio oforders to

stocks

0.31.46.44

1.041.051.291.27

1.831.841.671.411.391.501.461.261.16.96.75.72

.80

.72

.56

.46

.43

1939 average..1940 average.1941 average.J 942 average.1943 average.1944 average .1945 average.1946average.

1946:JanuaryFebruary.. .MarchAprilMayJuneJulyAugustSeptember-OctoberNovember..December. .

1947:JanuaryFebruary...MarchAprilMay




TABLE XVIII.—Corporate profits before and after taxes, 1939-47


Year or quarter

All privatecorporations 629 large private corporations—profits after taxes1

ss

Number of com-panies . -

1940.1941.1942.1943.1944.1945.1946.

1946:I...II..III.IV..

1947:I...II..

6,4679,32517, 23221,09824, 51623,84120, 22221,140

3,7244,8765,7436,797

}*7,250

5,0056,4479,3869,433

10,3639,9288,939

12,539

2,1352,9043,4494,051

1,4651,8182,1631,7691,8001,8961,9252,545

323604698853

875

-19493261

-342142102

45

63

89 97(3)

74

122132152161171184203321

828093

643)

1 Federal and State income and excess-profits taxes.* Quarterly average based on incomplete data for the first half year.3 Not available.NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce (all corporations); Bqard of Governors of the Federal Reserve System

(629 large corporations).

TABLE XIX.—Commercial, industrial, and agricultural loans of all insured banks,1940-46


Call date

1940: Dec. 31 _ ,1941: Dec 311942: Dec. 31 _.1943: Dec. 311944: Dec. 301945: Dec. 31 . . .1946:

June 29Dec 31

1947: June 302

Total com-mercial,

industrial,and agri-cultural

loans

8,45910,6649,3999,2829,643

10,775

11,70015,37415,950

Commer-cial and

industrialloans i

7,1789,2147,7577,7777,9209,461

10,33414,01614,600

Agricul-tural loans l

1,2811,4501,6421,5051,7231,314

1,3661,3581,350

1 During the period Dec. 31, 1942-June 30, 1945, agricultural loans to dealers, processors, and farmers'cooperatives covered by purchase agreements of the Commodity Credit Corporation, which are now classi-fied as commercial and industrial loans; consequently, beginning Dec. 31,1945, these items may not be en-tirely comparable.

2 Estimates based on data for weekly reporting member banks.



MIDYEAR ECONOMIC EEPORT OF THE PRESIDENT 79

TABLE XX.—Adjusted deposits of all banks and currency outside banks, 1929-47[Millions of dollars]

End of month

Totaljusted andcurrencyoutside xbanks

UnitedStates

Govern-ment

deposits 1

Other deposits and currency"outside banks

TotalDemanddeposits

adjusted2

22, 54022, 80914,41115,03525,19823,95924, 31325, 98627,35529,79331,96234,94537. 31738,99241,87048,92256,03960,80360,06566,93069,05375,85179,47683, 31482.50080,60080,40081,30081,500

Timedeposits3

28,61128,18921,65621, 71525,90526, 21826, 23626, 30526,79127.05927,46327, 73827,87927.72927,32028,43130,26032, 74835, 72039,79044,25348,45251,82953,96054,20054, 70054,90055,10055,300

Currencyoutsidebanks

1929—JuneDecember.




1939—JuneDecember

1940—JuneDecember

1941—JuneDecember

1942—JuneDecember

1943—JuneDecember

1944—JuneDecember

1945—JuneDecember

1946—JuneDecember

1947—January __February.MarchAprilMay _

55,17154,71341,68042, 54857, 25856, 63956, 56558, 95560,94364,09966,95270, 76174,15378, 23181,96399,701

110.161122,812136,172150.988162. 784175, 401171,237167,107165,900165, 400165,100165. 200164,900

381158852

1,016666824

792846828753753

1,8951,8378,4028.048

10,42419,50620, 76324,38124,60813,4163,1033,1003,9003,8002,8002,100

54, 79054, 55540,82841, 53256, 59255,81555, 96658,06660,151

• 63,25366,12470,00873,40076, 33680,12691,299

102,113112, 388116,666130, 225138,403150, 793157,821164,004162,800161, 500161,300162.400162,800

3,6393,5574,7614,7825,4895,6385,4175,7756,0056,401

7,3258,2049,615

10,93613,94615,81418,83720,88123,50525,09726,49026,51626,73026,10026,20026,00026,00026,000

1 Beginning with December 1938, includes United States Treasurer's time deposits, open account.2 Includes demand deposits, other than interbank and U. S. Government, less cash items in process of

collection.* Includes deposits in commercial banks, mutual savings banks, and Postal Savings System.Source: Board of Governors of the Federal Reserve System.

TABLE XXI.— U. S. Government foreign transfers and loanst 1946-47


Type of transfer or loan

Unilateral transfers:Straight lend-leaseUNRRA _Civ. supplies for occupied territoriesOther government transfers (net)

Total unilateral transfersLong-term loans:

Lend-lease creditsSurplus property credits _ .Export-Import BankU.K. loan - _ .International Bank and Monetary Fund _Other ._ -...

Total long-term loansRepayments

Net long-term loans . .

Total Government loans and transfers - -Less: International Bank and Fund 2

Government, excluding Bank and Fund.

I

109532107

- 3 2

716

271135137

54322

521

1,237

1,237

1946

I I

4641420745

712

173414333

159

1,07919

1,060

1,772159

1,613

III

6382115125

628

78110231400

17

83618

818

1.446

1,446

IV

19412562

381

24201270200164

2

86120

841

1,222164

1,058

1947

I

274225

- 2 6

473

180280500

2,90426

3,89036

3,854

4,3272,904

1,423

II

0)(0(1)

0)0)

0)0)0)

950159

0)

8(0

0)159

1 Not available.2 Deducted because these institutions had not begun operating by Mar. 31,1947. The U. S. Governmentinvestment in them was, therefore, not available to finance purchases of goods and services from the UnitedStates.

Source: Department of Commerce.


8 0 MIDYEAR ECONOMIC REPORT OF THE PRESIDENT

TABLE XXII.—Exports, including reexports, by continents

Continent

Total.

North America _South America __EuropeAsia .OceaniaAfrica

Total

North AmericaSouth AmericaEuropeAsiaOceaniaAfrica

1936-38quarterly

average

1946

I II III IV

1947

I I I I

Millions of dollars

742

18369

3111252332

2,284

500236

1,11726933

129

2,485

585275

1,09336528

140

2,351

64926396934226

103

2,620

81037991936730

116

3,596

912571

1,37848864

183

4,000

1,030670

1,49051075

225

Percentage of total

100.0

24.79.3

41.916.83.14.3

100.0

21.910.348.911.81.45.6

100.0

23.511.144.014.71.15.6

100.0

27.611.241.214.51.14.4

100.0

30.914.535.114.01.14.4

100.0

25.415.938.313.61.85.1

100.0

25.816.837.312.81.95.6

i Preliminary; estimates for June included.

NOTE.—Detail will not necessarily add to totals because of rounding.


TABLE XXIII.—General imports, by continents

Continent1936-38

quarterlyaverage

1946

III IV

1947

Millions of dollars

Total

North America.South America.EuropeAsiaOceaniaAfrica

Total

North America.South America-EuropeAsiaOceania.Africa

622

15081

1781871016

1,096

3642541651934178

1,191

3982752102013572

1,237

4242631922176281

1,411

4623032292964576

1,412

4963091863064670

Percentage of total

100.0

24.113.028.630.11.62.6

100.0

33.223.215.117.63.77.1

100.0

33.423.117.616.92.96.0

100.0

34.321.315.517.55.06.5

100.0

32.721.516.221.03.25.4

100.0

35.121.913.221.73.35.0

1,480

5673191862736075

100.0

38.321.612.618.54.05.1

1 Preliminary; estimates for June included.

NOTE.—Detail will not necessarily add to totals because of rounding.Source: Department of Commerce.


MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 81TABLE XXIV.—Recorded exports of selected commodities from the United States

Commodity'and unit of measure1936-38,quarterlyaverage

16133541

0)72

(00) 31,323

70112

1,35839

14248321692

1062

241

36469

1946

Firstquarter

1001

57512014

33811810859

1,097131143863

14559

247

1437

39143

2,804574

Fourthquarter

653

646516

138561

3710

1,14311320992044

403505912835

4093

9,471537

1947,first

quarter

Wheat, including flour million bushels..Corn doMeat products million pounds..Edible fats do . . . .Eggs, dried doDairy products:

Condensed and evaporated milk doDried mi lk . . . d o . . .Butter, butter oils, and spreads doCheese. ._. . . do

Coal, anthracite and bituminous.._ million long tons..Iron and steel-mill products 1,000 long tons..

Steel sheets doTobacco, unmanufactured . . . million pounds..Cotton, raw, excluding, linters .1,000 bales..Refrigerators, electric, household thousands..Radio receiving sets. doPassenger cars, new... doMotortrucks, busses and chassis, new. doCrude petroleum, domestic million barrels..Motor fuel and gasoline doLubricating oils doGas and fuel oil, including residual fuel oil doSawed timber million board feet..Boards, planks, scantlings, etc doFreight cars, mostly over 10-ton capacity, but including mine,

industrial, and other number..Locomotives, electric, steam, Diesel, and gasoline do

228210915

955313312

1,463140159

1,0584943063708114770182

17,432539

1 Less than one-half the unit indicated.| Source: Department of Commerce.

TABLE XXV.—United States production and exports of selected nonfood commodities

Commodity and unit of measure

Production

1939

34,95514,129

2,5614,8835,9131,753

24,97563,249

710

57,612

1,97910,318

4243,351

1,2652,307

6114683569

1946

53,07320,067

2,8344,792

10, 0552,588

30,300208,216

940

82,298

1,90815,000

5297,031

1,733(8)

77671946

104

Firstquar-ter,1947

14,9956,007

7701,3962,827

760

7,20078, 921

335

25,000

6364,500

1201,905

432(6)

1931791328

1939

2,5281,071

34825623466

1,104419

115

1,182

124552

322

72263

4146128

Exports

1946

4,8001,523

379386699445

64940,551

171

2,465

103832

13151

43(8)

4933118

Firstquar-ter,1947

1,583463

132150286126

27042,210

70

1,028

49430

247

8(8)

11742

Exports as percentof production

1939

Pet.7.27.6

13.65 34.03.8

4.4.7

16.2

2.1

6.35.3

.7

.7

5.711.4

6.79.7

33.611.7

1946

Pet.9.07.6

13.48.17.0

17.2

2.119.5

18.2

3.0

5.45.5

2.52.1

2.5(8)

6.34.7

23.97.7

Firstquar-ter,1947

Pet.10.67.7

17.110.710.116.6

3.853.5

20.9

4.1

7.79.6

1.72.5

1.9(6)

5.73.9

30.77.1

Rolled steel products1,000 short tons. .

Plates and sheets doTin plate and terne plate

doTubular products * __.doBars doRails do

Lumber (sawmill products)million board feet..

Freight cars 1,000 dollars>__Motortrucks, busses and chassis, new*

1,000 uni ts . .Motortruck and automobile tires

(casings) thousands..Refrigerators, electric household

1,000 uni ts . .Radios, receiving sets do —Boots and shoes other than rubber

million pairs..Wearing apparel—million dollars *._Petroleum, crude, domestic

million barrels..Refined mineral oils.million dollars..

Motor fuel and gasolinemillion barrels.,

Gas and fuel oils ..doLubricating oil doKerosene do

i Total tubular products in 1939; excludes cast iron pipe and fittings in 1946 and January-March 1947.* Estimated value of shipments to United States railroads and to foreign markets.* Exports data cover complete cars only; they exclude shipments of parts for assembly abroad.* Value of production is estimated; data include wearing apparel except footwear.* Not available.Source: Department of Commerce.


8 2 MIDYEAR ECONOMIC /REPORT OF THE PRESIDENT

TABLE XXVI.—Distribution of United States food supplies moving into consumptionchannels, 1939 and 1946

Commodity and periodTotaldistri-bution

Exportsand ship-

ments

Militarydistri-

bution i

Civiliandistri-bution

Percapitaciviliandistri-bution

Exportsand ship-ments aspercentof totaldistri-bution

Meat (carcass equivalent):1939 _1946

Dairy products (milk equivalent):1939.1946

Food fats and oils (excluding butter): 219391946

Canned fruits (processed weight):1938-39 pack year . __1946

Fresh fruits (farm weight):19391946

Canned vegetables (processed weight):1938-39 pack year1946

Fresh vegetables (farm weight):19391946

Wheat 3 (grain equivalent):1939 _1946

Corn 3 (grain equivalent):19391946

Eggs (fresh egg equivalent):1939 _1946..

Millionpounds

17,73923,335

108,985121,401

4,6125,039

2,3613,111

21, 35921,786

4,1637,014

32,04039,198

Millionbushels

571844

180185

Milliondozen

3,4184,916

Millionpounds

2461,156

4296,104

365646

359140

1,2771,166

57230

134494

Millionbushels

93280

3317

Milliondozen

3

Millionpounds

945

2,506

50

94

484

186

425

Millionbushels

75

6

Milliondozen

Millionpounds

17,49321,234

108, 556112,791

4,2474,343

2,0022,877

20,08220,136

4,106

395 137

31,90638, 279

Millionbushels

478

147162

Milliondozen

3,4154,384

Pounds132.8152.8

824811

32.231.2

15.220.7

152.4144.9

31.347.5

242275

218211

62.565.2

Number311378

Percent1.45.0

.45.0

7.912.8

15.24.5

6.05.4

1.43.3

.41.3

16.333.2

18.39.2

.18.0

1 Includes food for civilian feeding programs in liberated and occupied areas.a Actual weight except for margarine which is on a "fat content" basis.8 Excludes amounts used for animal feed, industrial raw materials, and seed.Source: Department of Agriculture.



TABLE VII.—-The labor force, 1940-47

[Thousands]

Year or month

1940 monthly average.1941 monthly average.1942 monthly average.1943 monthly average.1944 monthly average.1945 monthly average.1946 monthly average

1946:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1947:January. . __FebruaryMarchAprilMay . . . .June

Total laborforce (in-cludingarmedforces)

56,03057,38060,23064,41065,89065,14060,820

59,49059,13059,63060,30060,57062,00062,82062,20061,34061,16060,98060,320

59, 51059,63059,96060,65061,76064,007

Totalcivilianlaborforce

55,64055,91056,41055,54054,63053,86057,520

53,32053,89055,16056,45057,16058,93060,11059,75059,12058,99058,97058,430

57,79058,01058,39059,12060,29062,609

Civilian labor force

Employment

Total

47,52050,35053,75054,47053,96052,82055,250

51,02051,24052,46054,12054,85056,36057,84057, 69057,05057,03057,04056,310

55,39055, 52056,06056,70058,33060,055

Nonagri-cultural

37,98041,25044,50045,39045,01044,24046,930

44,30044,30044,93045,95045,97046,35047,87048, 55048,30048,41049,14049,100

48,89048,60048,82048,84049,37049,678

Agricul-tural

9,5409,1009,2509,0808,9508,5808,320

6,7206,9407,5308,1708,880

10,0109,9709,1408,7508,6207,9007,210

6,5006,9207,2407,8608,960

10,377

Unem-ployment

8,1205,5602,6601,070

6701,0402,270

2,3002,6502,7002,3302,3102,5702,2702,0602,0701,9601,9302,120

2,4002,4902,3302,4201,9602,555





TABLE VIII.—Number of employees in nonagricultural establishments, 1989-47 *[Thousands]

Year or month Total

Manufacturing

TotalDur-able

goods

Non-dur-able

goods

Min-ing

Con-struc-tion

Trans-porta-tionand

publicutili-ties

Trade

Fi-nance,service,

andmiscel-lane-ous

Gov-ern-

ment

1939 monthly average1940 monthly average1941 monthly average1942 monthly average.1943 monthly average1944 monthly average1945 monthly average1946 monthly average

1946:JanuaryFebruary _._MarchApril.. _MayJuneJulyAugustSeptemberOctober. . . .November.'December

1947:JanuaryFebruaryMarchApril. . .MayJune 2

30,28732,03136,16439,69742,04241,48039,97740,712

38,74538,14839,184

40,25840,68040,87741,46641,84842,06542,43942,928

41,79541,84942,04341,82341,91642,226

10,07810, 78012,97415,05117,38117, 11115,30214,365

13,49912,75113,43314,04514,15914.37114,52614,87615,03515,06415,27115,348

15.37215,47515,51115,42915,23015,259

4,3574,9756,4858,17910,29710,2008,4777,102

6,6015,7316,3246,9047,0357,1727,3077,4867,5907,6237,7217,731

7,7817,8577,8937,8927,7807,816

5,7205,8056,4886,8737,0846,9126,8257,263

7,0207,1097,1417,1247,1997,2197,3907,4457,4417,5507,617

7,5917,6187,6187,5377,4507,443

845916947983917883826836

864864857542753864873886884

874

883880879856881889

1,1501,2941,7902,1701,567,094,082,493

:,085, 101,203,356,438,532,627,713,747,753,713,644

,515,502,534,619,688,761

2,9123,0133,2483,4333,6193,7983,8724,023

3,9323,943

3,9913,9463,9964,0514,1034,0644,0934,1014,071

4,0154,0114,0213,836

6,7057,0557,5677,4817,3227,3997,6548,448

8,0568,0908,1978,329

8,3428,3378,4028,5238,667

4,121

9,234

8,5558,5078,5638,5518,5478,567

4,6104,7815,0165,1485,1875,1695,2745,954

5,6965,7766,8405,9845,9655,9615,9755,9845,9906,0546,0986,119

6,0716,1076,1206,1066,1556,222

3,9874,1924,6225,4316,0496,02&5,9675,595

5,6135,62$5,6715,6615,6955,6145,488.5,5025,6055.5515,4755,638

5,3845,3675,4155,42&5,4475,407

i Number of employees in nonagricultural establishments includes all full- and part-time wage and salaryworkers in nonagricultural establishments who worked or received pay during the pay period ending nearestthe 15th of the month. Proprietors, self-employed persons, domestic servants, and personnel of the armedforces are excluded. Not comparable with estimates for nonagricultural employment of the civilian laborforce derived from data in appendix B, table VII, because latter include self-employed, proprietors, anddomestic servants and are based on population enumeration whereas estimates in this table are based onestablishment reports.

8 Preliminary.


Source: Department of Labor.


MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 6 9

TABLE IX.—Average gross weekly earnings in selected industries^ 1989-47

Year or month

Manufacturing

Total

$23.8625.2029.5836.6543.1446.0844.3943.74

41.1540.5842.1542.8842. 5143.3143.3844.9945.3945.7345.7946.96

47.1047.2947.7247.5048.4648.91

Dura-ble

goods

$26.5028.4434.0442.7349.3052.0749.0546.49

43.6742.5744.7945.7145.1046.3246.2448.0248.3648.9048.6249.57

49.6049.7450.3350.3451.7152.39

Non-durable

goods

$21.7822.2724.9229.1334.1237.1238.2941.02

38.7539.0139.8340.1339.9340.2840.4641.8942.3442.4542.8744.24

44.4744.6744.9044.4244.9345.08

Bitu-ruinous

coalmining

$23.8824.7130.8635.0241.6251.2752.2558.03

54.1657.3758.3030.1534.2064.4452.2762.8461.6562.4961.5469.56

69.5465.3064.9054.7766.56

(2)

Privatebuild-

ingcon-

struc-tion

$30.3931.7035.1441.8048.1352.1853.8056.24

52.8953.0452.8754.2953.6355.2356.2556.6758.4959.2057.6560.32

59.9758.9261.2360.5362.38

(2)

Class Isteamrail-

roads

$30.7131.3234.0438.3943.4845.6945.4950.99

43.2943.8443.0147.7646.3951.0551.7852.6051.2852.6451.5950.53

52.47(2)(?)

8(2)

Tele-phone

$31.9432.4432.7433.9736.3038.39

0)44.04

41.1944.3743.7644.0944.8244.9344.8244.1944.1044.3044.4042.98

43.3743.3142.5132.2637.08

(2)

w noie-sale

frftfifiirau.6

$29.8530.3932.3235.5639.4042.2944.0748.06

45.1446.0746.3147.1347.4847.8848.0648.1449.5449.4449.8051.20

50.0550.8750.8051.1351.57(2)

Retailtrade

$21.1721.1721.4923.2424.8826.5828.3132.55

30.5430.7731.1231.4031.4532.3933.6433.8133.7633.1933.0433.73

35.0235.2735.3135.9336.43

(2)

Hotels(year

round)

1939 monthly average.. _1940 monthly average. _.1941 monthly average. __1942 monthly average. __1943 monthly average. _ _1944 monthly average...1945 monthly average. _.1946 monthly average. _ _

1946:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctoberNovemberDecember

1947:JanuaryFebruaryMarchAprilMayJune 3

$15.2515.5216.0917.6220.2122.6524.5326.95

26.2126.4326.5726.6426.6526.7026.6327.1526.9827.2728.1528.40

28.6228.9129.0929.4129.23

i Not available. New series, beginning April 1945; includes only employees subject to provisions of theFair Labor Standards Act and is not comparable with preceding series, which includes all employees.

* Not available.3 Preliminary.

Source: Department of Labor.


7 0 MIDYEAR ECONOMIC REPORT OF THE PRESIDENT

TABLE X.—Average hourly earnings in selected industries, 1939-47

Year or month

Manufacturing

Total

$0.633.661.729.853.961

1.0191.0231.084

1.0041.0021.0351.0581.0711.0841.0931.1121.1261.1301.1391.148

1.1611.1701.1801.1861.2081.220

Dura-ble

goods

$0,698.724.808.947

1.0591.1171.1111.156

1.0701.0641.1031.1311.1471.1651.1771.1861.2011.2021.2101.216

1.2241.2291.2371.2441.2771.294

Non-durablegoods

$0,582.602.640.723.803.861.904

1.012

.941

.953

.975

.988

.9961.0031.0091.0361.0501.0561.0651.077

1.0941.1071.1191.1221.1311.138

Bitu-minous

coalmining

$0,886.883.993

1.0591.1391.1861.2401.401

1.2591.2651.2741.2391.3211.4741.4571.4661.4801.4601.4771.491

1.4911.4911.4841.4811.464

(2)

Privatebuild-

ingcon-

struc-tion

$0,932.958

1.0101.1481.2521.3191.3801.478

1.402]

:

.

L.422L.411L.423L.431L.444L.4731.4821.510L.526L.549L.569

L. 5941.5981.6101.6341.656

(2)

Class Isteamrail-

roads

$0.707.711.745.819.892.934.938

1.111

.935

.949

.9291.0451.0691.1171.1161.1121.1321.1131.1241.128

1.126(2)(2)(2)(2)(2)

Tele-phone

$0,822.827.820.843.870.911

0)1.124

]

1.030L.0951.105L.131L.143L.147L. 1351.1291.148L.137L.131L. 132

1.1321.1411.124L.147L.188(2)

Whole-colasaie

trade

$0.715.739.793.860.933.985

1.0291.144

1.0701.0951.1011.1211.1351.1461.1551.1481.1791.1721.1861.202

1.1971.2301.2311.2291.241

(2)

Retailtrade

$0.536.542.568.614.670.724.773.878

.828

.835

.841

.851

.859

.876

.888

.893

.908

.907

.917

.919

.953

.957

.960

.973

.986(2)

Hotels(year-

round)

1939 monthly average.1940 monthly average.1941 monthly average.1942 monthly average.1943 monthly average.1944 monthly average.1945 monthly average.1946 monthly average.

1946:January _.February.. .MarchApril.MayJuneJuly _AugustSeptemberOctober..NovemberDecember.._

1947:JanuaryFebruaryMarchAprilMayJune 3

$0.324.332.348.386.451.505.550.612

.604

.602

.600

.599

.596

.598

.602

.614

.620

.626

.642

.651

.648

.654

.642

.642

.6432)

1 Not available. New series, beginning April 1945; includes only employees subject to provisions of theFair Labor Standards Act and is not comparable with preceding series, which includes all employees.

2 Not available.3 Preliminary.Source: Department of Labor.


MIDYEAR ECONOMIC REPORT OF THE PRESIDENT 71TABLE XI.—Consumers1 price index, 19S9~47

For moderate-income families in large cities

[1935-39=100]

Year or month

1939 monthly average.1940 monthly average.1941 monthly average.1942 monthly average.1943 monthly average.1944 monthly average.1945 monthly average.1946 monthly average.

1946:JanuaryFebruaryMarchAprilMayJuneJulyAugustSeptemberOctober. _NovemberDecember

1947:JanuaryFebruaryMarchAprilMayJune,2

All items

99.4100.2105.2116.5123.6125.5128.4139.3

129.9129.6130.2131.1131.7133.3141.2144.1145.9148.6152.2153.3

153.3153.2156.3156.1155.8157

Food

95.296.6

105.5123.9138.0136.1139.1159.6

141.0139.6140.1141.7142.6145.6165.7171.2174.1180.0187.7185.9

183.8181.5189.5188.0187.6190

Clothing

100.5101.7106.3124.2129.7138.8145.9160.2

149.7150.5153.1154.5155.7157.2158.7161.2165.9168.1171.0176.5

179.0180.2184.3184.6184.4

Rent

104.3104.6106.2108.5108.0108.2108.3108.6

0)(0108.40)0)108.5(0108.7108.8(0

8108.8108.9109.0109.0109.2

Fuel, elec-tricity,and ice

99.099.7

102.2105.4107.7109.8110.3112.5

110.8111.0110.5110.4110.3110.5113.3113.7114.4114.4114.8115.5

117.3117.5117.6118.4117.6

Housefurnish-

ings

101.3100.5107.3122.2125.6136.4145.8159.2

148.8149.7150.2152.0153.7156.1157.9160.0165.6168.5171.0177.1

179.1180.8182.3182.4181.6

Miscel-laneous

100.7101.1104.0110.9115.8121.3124.1128.8

125.4125.6125.9126.7127.2127.9128.2129.8129.9131.0132.5136.1

137.1% 137.4

138.2139.1138.7

* Usually surveyed quarterly.2 Estimates based on incomplete data.a Not available.Source: Department of Labor.



TABLE XII.—Wholesale price index, 1989-47

[1926=100]

Year or month

1939 monthly average. _.1940 monthly average.._1941 monthly average. -.1942 monthly average...1943 monthly average. - .1944 monthly average.._1945 monthly average. -_1946 monthly average...

1946:JanuaryFebruaryMarchAprilMayJune _July __AugustSeptemberOctober.. _.NovemberDecember

1947:JanuaryFebruaryMarchAprilMay.June *

77.178.687.398.8

103.1104.0105.8120.9

107.1107.7108.9110.2111.0112.9124.7129.1124.0134.1139. 7140.9

141.5144.5149.5147.7146.9147.7

65.367.782.4

105.9122.6123.3128.2148.6

129.9130.8133.4135.4137.5140.1157.0161.0154.3165.3169.8168.1

165.0170.4182.6177.0175.7177.9

70.471.382.799.6

106.6104.9106.2130.4

107.3107.109.4110.8lll.fi112.9140.2149.0131.9157.9165.4160.1

156.2162.0167.6162.4159.8161.0

Other than farm products and foods

81.383.089.095.596.998.599.7

109.3

100.8101.3102.2103.3103.9105.6109.5111.6112.2115.8120.7124.7

127.6128.5131.1131.8131.7131.8

95.6100.8108.3117.7117.5116.7118.1136.2

119.4119.6119.8119.8120.4122.4141.2138.9141.6142.4172.5176.7

175.1173.8174.166.4165.6

101.6102.2104.7107.9108.8109.2118.1124.0125.7128.6131.6134.7

136.6138.0139.6139.2138.9

73.171.776.278.580.883.084.0

84.985.185.086.186.187.890.394.494.394.294.596.1

97.797.9

100.7103.4103.3

94.495.899.4

103.8103.8103.8104.7115.3

105.7106.6108.4108.8100.4ll2.2113.3114.0114.2125.8130.2134.7

138.0137.9139.9140.3141.4

90.594.8

103.2110.2111.4115.5117.8132.2

120.0120.9124.9126.5127.8129.9132.1132.7133.8134.8145.5157.8

169.7174.8177.5178.8177.0

76.077.084.495.594.995.295.2

101.5

96.095.996.096.196.596.499,398.498.499.9

118.9125.7

128.1129.3132.2133.2127.1

86.388.594.3

102.4102.7104.3104.5111.5

106.2106.5106.9107.5108.3'110.4111.9112.6113.6115.3118.2120.2

123.3124.6125.8127.4128.8

74.877.382.089.792.293.694.7

100.2

95.395.. 695.695.797.098.5

101.3102.0102.1104.0106.5108.9

110.3110.9115.3115.7116.1

1 Preliminary estimates based on weekly data.«Not available.Source: Department of Labor.



TABLE XIII.—Index of prices paid and of prices received by farmers and parityratio, 1939-47

[1910-14=100]

Year or monthPrices paid(includinginterest

and taxes)

124125132150162170174194

177179180181185188199204200207212213

215221227230229230

Pricesreceived l

95100124159192195202233

206207209212211218244249243273263264

260262280276272271

Parityratio 2

1939 monthly average.1940 monthly average.1941 monthly average.1942 monthly average.1943 monthly average.1944 monthly aveiage.1945 monthly average.1946 monthly average.

1946:JanuaryFebruary _.MarchAprilMayJune._JulyAugustSeptemberOctoberNovemberDecember _

1947:JanuaryFebruaryMarchApril.May. . . __June

778094

106119115116120

116116116117114116123122122132124124

121119123120119118

1 August 1909-July 1914=100.* Ratio of prices received to prices paid (including interest and taxes).Source: Department of Agriculture.



TABLE XIV.—Industrial production index, 1939—47

[1935-39=100, seasonally adjustedl

Year or monthTotal

industrialproduction

Manufactures

Total Durable NondurableMinerals

1939 monthly average1940 monthly average1941 monthly average1942 monthly average1943 monthly average1944 monthly average1945 monthly average1946 monthly average

1946:JanuaryFebruaryMarchAprilMayJune—July . . .AugustSeptemberOctoberNovemberDecember

1947:JanuaryFebruaryMarchAprilMayJune*

109125162199239235203170

160152168165159170172178180182183182

189189190186185183

109126168212258252214177

163154173176167176177184186188191190

196197198194192190

109139201279360353274192

166138183190175193202208212214214211

221222225222220220

109115142158176171166165

161167166164161162157164165168173174

177176176172169166

106117125129132140137134

141141137104115139146144146145136137

146146148142152149

i Estimates based on incomplete data.Source: Board of Governors of Federal Reserve System.


erp1947 my appendixes 3

Documents