[Economic Report of the President (1999)]
[Administration of William J. Clinton]
[Online through the Government Printing Office, www.gpo.gov]



PRODUCTION AND BUSINESS ACTIVITY


[[Page 392]]


Table B-57.--Manufacturing and trade sales and inventories, 1954-98
[Amounts in millions of dollars; monthly data seasonally adjusted]
--------------------------------------------------------------------------------------------------------------------------------------------------------
Total manufacturing and            Manufac-  turing            Merchant  wholesalers              Retail  trade
trade             --------------------------------------------------------------------------------------------
Year or month        -------------------------------
Inven-             Sales\1\    Inven-   Ratio\3\  Sales\1\    Inven-   Ratio\3\  Sales\1\    Inven-   Ratio\3\
Sales\1\  tories\2\  Ratio\3\            tories\2\                      tories\2\                      tories\2\
--------------------------------------------------------------------------------------------------------------------------------------------------------
1954........................    46,443     73,175     1.60     23,355     41,612     1.81      8,993     10,637     1.18     14,095     20,926     1.51
1955........................    51,694     79,516     1.47     26,480     45,069     1.62      9,893     11,678     1.13     15,321     22,769     1.43
1956........................    54,063     87,304     1.55     27,740     50,642     1.73     10,513     13,260     1.19     15,811     23,402     1.47
1957........................    55,879     89,052     1.59     28,736     51,871     1.80     10,475     12,730     1.23     16,667     24,451     1.44
1958........................    54,201     87,055     1.61     27,248     50,203     1.84     10,257     12,739     1.24     16,696     24,113     1.44
1959........................    59,729     92,097     1.54     30,286     52,913     1.75     11,491     13,879     1.21     17,951     25,305     1.41

1960........................    60,827     94,719     1.56     30,878     53,786     1.74     11,656     14,120     1.21     18,294     26,813     1.47
1961........................    61,159     95,580     1.56     30,922     54,871     1.77     11,988     14,488     1.21     18,249     26,221     1.44
1962........................    65,662    101,049     1.54     33,358     58,172     1.74     12,674     14,936     1.18     19,630     27,941     1.42
1963........................    68,995    105,463     1.53     35,058     60,029     1.71     13,382     16,048     1.20     20,556     29,386     1.43
1964........................    73,682    111,504     1.51     37,331     63,410     1.70     14,529     17,000     1.17     21,823     31,094     1.42
1965........................    80,283    120,929     1.51     40,995     68,207     1.66     15,611     18,317     1.17     23,677     34,405     1.45
1966........................    87,187    136,824     1.57     44,870     77,986     1.74     16,987     20,765     1.22     25,330     38,073     1.50
1967........................    90,820    145,681     1.60     46,486     84,646     1.82     19,576     25,786     1.32     24,757     35,249     1.42
1968........................    98,685    156,611     1.59     50,229     90,560     1.80     21,012     27,166     1.29     27,445     38,885     1.42
1969........................   105,690    170,400     1.61     53,501     98,145     1.83     22,818     29,800     1.31     29,371     42,455     1.45

1970........................   108,221    178,594     1.65     52,805    101,599     1.92     24,167     33,354     1.38     31,249     43,641     1.40
1971........................   116,895    188,991     1.62     55,906    102,567     1.83     26,492     36,568     1.38     34,497     49,856     1.45
1972........................   131,081    203,227     1.55     63,027    108,121     1.72     29,866     40,297     1.35     38,189     54,809     1.44
1973........................   153,677    234,406     1.53     72,931    124,499     1.71     38,115     46,918     1.23     42,631     62,989     1.48
1974........................   177,912    287,144     1.61     84,790    157,625     1.86     47,982     58,667     1.22     45,141     70,852     1.57
1975........................   182,198    288,992     1.59     86,589    159,708     1.84     46,634     57,774     1.24     48,975     71,510     1.46
1976........................   204,150    318,345     1.56     98,797    174,636     1.77     50,698     64,622     1.27     54,655     79,087     1.45
1977........................   229,513    350,706     1.53    113,201    188,378     1.66     56,136     73,179     1.30     60,176     89,149     1.48
1978........................   260,320    400,931     1.54    126,905    211,691     1.67     66,413     86,934     1.31     67,002    102,306     1.53
1979........................   297,701    452,640     1.52    143,936    242,157     1.68     79,051     99,679     1.26     74,713    110,804     1.48

1980........................   327,233    508,924     1.56    154,391    265,215     1.72     93,099    122,631     1.32     79,743    121,078     1.52
1981........................   355,822    545,786     1.53    168,129    283,413     1.69    101,180    129,654     1.28     86,514    132,719     1.53
1982........................   347,625    573,908     1.67    163,351    311,852     1.95     95,211    127,428     1.36     89,062    134,628     1.49
1983........................   369,286    590,287     1.56    172,547    312,379     1.78     99,225    130,075     1.28     97,514    147,833     1.44
1984........................   410,124    649,780     1.53    190,682    339,516     1.73    112,199    142,452     1.23    107,243    167,812     1.49
1985........................   422,583    664,039     1.56    194,538    334,749     1.73    113,459    147,409     1.28    114,586    181,881     1.52
1986........................   430,419    662,738     1.55    194,657    322,654     1.68    114,960    153,574     1.32    120,803    186,510     1.56
1987........................   457,735    709,848     1.50    206,326    338,109     1.59    122,968    163,903     1.29    128,442    207,836     1.55
1988........................   497,157    767,222     1.49    224,619    369,374     1.57    134,521    178,801     1.30    138,017    219,047     1.54
1989........................   527,039    815,455     1.52    236,698    391,212     1.63    143,760    187,009     1.28    146,581    237,234     1.58

1990........................   545,909    840,622     1.52    242,686    405,073     1.65    149,506    195,769     1.29    153,718    239,780     1.56
1991........................   542,815    834,595     1.53    239,847    390,950     1.65    148,306    200,389     1.33    154,661    243,256     1.54
1992........................   567,176    842,843     1.48    250,394    382,510     1.54    154,150    208,242     1.32    162,632    252,091     1.52
1993........................   595,015    869,367     1.44    260,635    384,039     1.47    161,560    216,919     1.32    172,820    268,409     1.51
1994........................   637,695    932,267     1.41    279,002    404,877     1.41    172,870    235,328     1.30    185,823    292,062     1.51
1995........................   682,501    991,655     1.43    299,555    430,985     1.41    188,837    253,556     1.31    194,109    307,114     1.56
1996........................   714,837  1,009,647     1.40    309,622    436,729     1.40    200,115    256,442     1.29    205,100    316,476     1.52
1997........................   749,645  1,053,078     1.38    327,452    456,133     1.37    208,342    273,298     1.27    213,851    323,647     1.50

1997:Jan....................   735,468  1,013,149     1.38    319,150    438,641     1.37    205,148    258,263     1.26    211,170    316,245     1.50
Feb.....................   744,016  1,017,179     1.37    321,274    440,915     1.37    208,797    258,194     1.24    213,945    318,070     1.49
Mar.....................   742,738  1,018,812     1.37    320,700    441,676     1.38    207,522    259,786     1.25    214,516    317,350     1.48
Apr.....................   744,306  1,023,504     1.38    325,639    444,714     1.37    207,649    259,404     1.25    211,018    319,386     1.51
May.....................   740,762  1,026,712     1.39    322,260    446,888     1.39    207,970    260,258     1.25    210,532    319,566     1.52
June....................   747,005  1,032,838     1.38    326,118    447,947     1.37    208,544    265,008     1.27    212,343    319,883     1.51

July....................   755,088  1,034,478     1.37    331,331    449,657     1.36    208,822    263,517     1.26    214,935    321,304     1.49
Aug.....................   751,509  1,035,510     1.38    328,250    451,737     1.38    206,868    264,516     1.28    216,391    319,257     1.48
Sept....................   759,639  1,042,270     1.37    333,422    452,224     1.36    210,396    268,196     1.27    215,821    321,850     1.49
Oct.....................   757,573  1,046,591     1.38    332,321    455,553     1.37    210,137    268,745     1.28    215,115    322,293     1.50
Nov.....................   756,422  1,050,726     1.39    331,404    457,766     1.38    208,934    271,168     1.30    216,084    321,792     1.49
Dec.....................   763,104  1,053,078     1.38    336,424    456,133     1.36    209,816    273,298     1.30    216,864    323,647     1.49

1998:Jan....................   761,165  1,055,034     1.39    331,937    458,197     1.38    210,224    272,130     1.29    219,004    324,707     1.48
Feb.....................   768,061  1,062,460     1.38    335,883    461,178     1.37    211,312    275,750     1.30    220,866    325,532     1.47
Mar.....................   773,877  1,068,754     1.38    338,991    461,948     1.36    213,781    277,624     1.30    221,105    329,182     1.49
Apr.....................   772,160  1,070,555     1.39    335,553    464,668     1.38    213,900    275,933     1.29    222,707    329,954     1.48
May.....................   772,405  1,070,022     1.39    333,622    465,729     1.40    213,413    277,699     1.30    225,370    326,594     1.45
June....................   774,639  1,070,515     1.38    335,110    466,701     1.39    213,904    277,518     1.30    225,625    326,296     1.45

July....................   773,762  1,070,875     1.38    335,380    467,636     1.39    214,229    277,466     1.30    224,153    325,773     1.45
Aug.....................   772,454  1,074,870     1.39    336,445    468,445     1.39    211,713    280,591     1.33    224,296    325,834     1.45
Sept....................   779,478  1,080,866     1.39    340,481    468,552     1.38    213,856    284,128     1.33    225,141    328,186     1.46
Octp....................   781,447  1,083,366     1.39    340,133    471,031     1.38    213,429    283,776     1.33    227,885    328,559     1.44
Novp....................   784,861  1,088,217     1.39    341,370    471,720     1.38    214,145    285,365     1.33    229,346    331,132     1.44
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\1\Annual data are averages of monthly not seasonally adjusted figures.
\2\Seasonally adjusted, end of period. Inventories beginning January 1982 for manufacturing and December 1980 for wholesale and retail trade are not
comparable with earlier periods.
\3\Inventory/sales ratio. Annual data are: beginning 1982, averages of monthly ratios; for 1958-81, ratio of December inventories to monthly average
sales for the year; and for earlier years, weighted averages. Monthly data are ratio of inventories at end of month to sales for month.

Note.--Earlier data are not strictly comparable with data beginning 1958 for manufacturing and beginning 1967 for wholesale and retail trade.

Source: Department of Commerce, Bureau of the Census.