United States yearbook - 1982 (1)

542 Business Enterprise
No. 911. B u s in e s s C y c l e E x p a n s io n s a n d C o n t r a c t i o n s — M o n t h s o f D u r a t i o n : 1 9 1 9 t o 1 9 8 1
[The lower turning point of a cycle is considered a trough, the upper turning point a peak. Business cycle reference dates are
determined by the National Bureau of Economic Research, Inc.]
Trough
BUSINESS CYCLE REFERENCE DATE
Peak
Conlraction
[trough
from
previous
• peak)
Expansion
(trough
to peak)
LENGTH OF CYCLE
Trough
from
previous
trough
Peak
from
previous
peak
7 10 51 17
July 1 9 2 1 ................................................................. May 1 9 2 3 ...................... 18 2 2 2 8 40
July 1 9 2 4 .................................................................. 14 2 7 36 41
40 34
May 1 9 3 7 ...................... 43 50 64 93
13 80 63 93
8 3 7 88 45
11 4 5 48 56
10 3 9 55 49
ApriM Q R A ............ April 1960...................... 8 24 47 32
106 3 4 116
11 3 6 117 47
M orph 1 ft?R 16 5 8 52 74
.Inly lO flf) ............ .Inly 1QR1 12 64 18
Averaqe, all cycles:
18 3 5 53 53
1 9 4 5 -1 9 8 1 (8 cycles, except as noted)... *1 0 4 5 *6 0 55
Average, peacetime cycles:
1 0 1 9 .1 9 4 5 /5 m /rio s l ............ ........................ 20 2 6 4 6 45
1 9 4 5 -1 9 8 1 (6 cycles’ except as noted)..................................................................... *1 0 3 4 a49 44
11945-1980, 7 cycles. 1194S-1980, 5 cycles.
Source: U.S. Bureau ot Economic Analysis, B u s in e s s C o n d itio n s D ig e s t, February 1982.
No. 9 1 2 . M a n u f a c t u r i n g a n d T r a d e — S a l e s a n d I n v e n t o r i e s in C u r r e n t a n d C o n s t a n t ( 1 9 7 2 )
Dollars: I 9 6 0 to 1 9 8 1
[In billions of dollars, except ratios. Sea H is to ric a l S ta tis tic s , C o lo n ia l T im e s to 1 9 7 0 , series V 78-107, for single year Dgures
prior to revisions issued in 1981]
ITEM 1960 1966 1970 ' 1974 1975 1976 1977 1976 1979 1980 1961
CURRENT DOLLARS
Sales average monthly............................... 61 80 107 178 182 204 230 259 295 322 351
Manufacturing..................................................... 31 41 53 85 8 7 99 113 127 144 154 166
Retail tra d e ........................................................................... 18 24 31 45 4 9 55 60 67 75 79 87
Merchant wholesalers......................................... 12 16 24 48 47 51 56 65 76 88 98
Inventories a............................................... 95 121 178 286 268 319 351 397 444 483 520
Manufacturing..................................................... 54 66 102 158 160 176 189 211 241 264 283
Retalt tra d e ........................................................................... 27 34 44 71 72 79 89 103 109 114 126
Merchant wholesalers......................................... 14 18 33 57 57 64 72 84 94 104 111
Inventory-sales ratio3............................... 1.56 1.45 1.62 1.45 1.57 1.46 1.46 1.44 1.43 1.46 1.43
Manufacturing..................................................... 1.75 1.60 1.90 1.65 1.84 1.69 1.61 1.57 1.57 1.66 1.66
Retail trade........................................................ 1.45 1.39 1.41 1.48 1.44 1.38 1.39 1.43 1.44 1.41 1.39
Merchant wholesalers....................................... 1.22 1.15 1.29 1.07 1.21 1.19 1.21 1.21 1.18 1.13 1.09
constant (1972) dollars
Sales, average monthly.............................. 7$ 98 116 140 131 141 151 159 162 156 158
Manufacturing......................... 38 50 56 68 62 67 72 75 77 73 73
Retail trade............................. 23 28 34 39 40 42 45 46 47 45 46
Merchant wholesalers....... ...... 15 19 26 33 30 31 35 37 38 38 38
Inventories..................... 120 149 194 233 225 235 246 260 264 263 270
Manufacturing......................... 70 87 113 131 127 131 134 140 145 146 148
Retail trade............................. 30 37 46 58 56 59 63 67 66 63 66
Merchant wholesalers............. 20 25 35 44 42 45 49 53 53 54 55
Inventory-sales ratios 4............................. 1.60 1.48 1.70 1.74 1.68 1.64 1.59 1.61 1.64 1.66 1.76
1.86 1.69 2.08 2.12
1.47
Merchant wholesalers.... ................................. 1.37 1.27 1.33 1.42 1.42 1^43 1.39 i.A O 1.40 1.39 1.45
'Beginning 1970, data not comparable with earlier years due to revised procedures. 2Book value; seasonally adjusted end*
of*year data. See text, page 526. 3Average inventories to average monthly sales. Average Inventories based on weighted
averages of end-of-montn figures. 4 End of fourth quarter inventories to average month sales for fourth quarter.
Source: U.S. Bureau of Economic Analysis, 1960 to 1976, B u s in e s s S ta tis tic s , annual; thereafter, S u rv e y o f C u rre n t B u s in e s s ,
July issues.