Accessible Material
December 2008 Greenbook Supplement Tables and Charts†
Supplemental Notes
The Domestic Nonfinancial Economy
Retail Sales
Share1 | 2008 | 2008 | |||||
---|---|---|---|---|---|---|---|
Q1 | Q2 | Q3 | Sept. | Oct. | Nov. | ||
Total retail trade and food services | 100.0 | -.3 | .9 | -1.3 | -1.6 | -2.9 | -1.8 |
Previous estimate | -1.2 | -1.3 | -2.8 | ||||
Auto and other motor vehicle dealers | 14.5 | -3.9 | -6.1 | -7.9 | -6.5 | -6.1 | -3.3 |
Building material and supply stores | 7.5 | -2.5 | 3.0 | -.9 | -.7 | -1.0 | -1.2 |
Retail control | 78.0 | .8 | 2.4 | .1 | -.6 | -2.5 | -1.5 |
Previous estimate | .1 | -.5 | -2.3 | ||||
General merchandise | 14.1 | .6 | 2.4 | .0 | -.7 | -.4 | 1.2 |
Food and beverage stores | 14.0 | 1.1 | 1.7 | 1.2 | -.3 | -.3 | .3 |
Food services | 10.8 | .1 | 1.8 | .7 | .2 | -.4 | .2 |
Gasoline stations | 9.2 | 4.0 | 5.1 | 1.1 | -.1 | -12.9 | -14.7 |
Nonstore retailers2 | 7.2 | .0 | 4.2 | -1.2 | -.8 | -1.7 | -1.3 |
Health & personal care | 5.9 | 1.2 | 1.3 | .8 | .6 | .1 | 1.0 |
Clothing and accessories | 5.1 | .1 | 1.1 | -1.3 | -4.1 | -2.0 | .8 |
Furniture and home furnishing | 2.5 | -2.7 | -.7 | -4.4 | -2.0 | -1.0 | .2 |
Electronics and appliances | 2.6 | -1.2 | 2.3 | -2.8 | -.9 | -2.0 | 2.8 |
Auto parts, acc. and tire stores | 1.9 | -1.2 | 2.2 | -.3 | .6 | .2 | 1.2 |
Other retailers3 | 4.9 | -.1 | 1.3 | .2 | -1.1 | -.3 | .7 |
Other aggregates of retail sales: | |||||||
Total excluding motor vehicles and parts | 83.6 | .5 | 2.5 | .0 | -.7 | -2.4 | -1.6 |
Retail control ex. gasoline station sales | 68.8 | .3 | 1.9 | -.1 | -.7 | -.7 | .5 |
Previous estimate | .0 | -.6 | -.5 | ||||
Memo: Real PCE control 4 | -.1 | 1.2 | -1.9 | -1.0 | -1.0 | n.a. | |
Previous estimate | -1.9 | -.9 | -.8 |
1. Share of total retail trade and food services for November. Return to table
2. Includes electronic shopping and mail order houses, direct selling establishments, and vending machine operators. Return to table
3. Includes miscellaneous retailers and sporting goods, hobby, book, and music stores. Return to table
4. PCE control is a BEA measure and has approximately the same coverage as retail control. Revisions to real PCE control are a staff translation based on the revisions to retail control. Return to table
Source: Census Bureau.
Figure: Nominal Retail Control and Real PCE Control
By Percent change, 2004 to 2008. Line chart. There are two series, "Nominal retail control" and "Real PCE control". Nominal retail control starts at about 1.3 and fluctuates widely between about -0.7 and 2.2, until late 2008. It then decreases to about -2.5 and increases to end at about -1.5 in November 2008. Real PCE control starts at about 0.5 and fluctuates widely between about -1 and 1.6. It ends at about -1 in October 2008.
Note. Real PCE control estimates for September and October 2008 are a staff translation based on the revisions to retail control.
Source: Census Bureau.
Reuters/University of Michigan Survey of Consumers
Category | 2008 | |||||||
---|---|---|---|---|---|---|---|---|
May | June | July | Aug. | Sept. | Oct. | Nov. | Dec.P | |
Composite of current and expected conditions1 | 59.8 | 56.4 | 61.2 | 63.0 | 70.3 | 57.6 | 55.3 | 59.1 |
Current conditions1 | 73.3 | 67.6 | 73.1 | 71.0 | 75.0 | 58.4 | 57.5 | 69.4 |
Expected conditions1 | 51.1 | 49.2 | 53.5 | 57.9 | 67.2 | 57.0 | 53.9 | 52.4 |
Personal financial situation | ||||||||
Now compared with 12 months ago2 | 80 | 69 | 73 | 72 | 86 | 60 | 59 | 61 |
Expected in 12 months2 | 98 | 96 | 105 | 105 | 120 | 106 | 107 | 108 |
Expected business conditions | ||||||||
Next 12 months2 | 36 | 38 | 42 | 52 | 65 | 49 | 42 | 37 |
Next 5 years2 | 68 | 59 | 65 | 72 | 83 | 71 | 65 | 63 |
Appraisal of buying conditions | ||||||||
Cars | 96 | 91 | 103 | 103 | 108 | 98 | 115 | 122 |
Large household appliances2 | 109 | 104 | 115 | 110 | 107 | 89 | 88 | 117 |
Houses | 130 | 133 | 138 | 146 | 140 | 117 | 145 | 128 |
Expected unemployment change - next 12 months | 153 | 159 | 154 | 150 | 141 | 156 | 162 | 164 |
Prob. household will lose a job - next 5 years | 22 | 25 | 20 | 22 | 21 | 24 | 27 | 26 |
Expected inflation - next 12 months | ||||||||
Mean | 7.0 | 6.5 | 6.3 | 5.3 | 4.6 | 4.3 | 2.9 | 1.9 |
Median | 5.2 | 5.1 | 5.1 | 4.8 | 4.3 | 3.9 | 2.9 | 1.7 |
Expected inflation - next 5 to 10 years | ||||||||
Mean | 4.0 | 4.0 | 3.5 | 3.9 | 3.3 | 3.1 | 3.1 | 2.7 |
Median | 3.4 | 3.4 | 3.2 | 3.2 | 3.0 | 2.9 | 2.9 | 2.7 |
Note. Figures on financial, business, and buying conditions are the percent reporting 'good times' (or 'better') minus the percent reporting 'bad times' (or 'worse'), plus 100. Expected change in unemployment is the fraction expecting unemployment to rise minus the fraction expecting unemployment to fall, plus 100.
P Preliminary. Return to table
1. Feb. 1966 = 100. Return to table
2. Indicates the question is one of the five equally-weighted components of the index of sentiment. Return to table
Figure: Consumer sentiment
2001 to 2008. Line chart. There are two series, "Reuters/Michigan" and "Conference Board". The Reuters series values are indexed to 1966=100. It begins at about 99, fluctuates between about 75 and 105 until early 2008, then decreases to end in December 2008 at about 58. The Conference Board series is indexed to 1985=100. It starts at about 125, decreases to about 60 by early 2003, increases to about 85 by late 2007, and decreases to end at about 40 in November 2008. Note: Reuters December 2008 value is preliminary.
Figure: Expected inflation (Reuters/University of Michigan)
By Percent, 2001 to December 2008. Line chart. There are two series, "Median, 5 to 10 years ahead", and "Median, 12 months ahead". The 5 to 10 years ahead series starts at about 3, and remains about constant, decreasing toward the end to about 2.8. The December value is preliminary. The 12 months ahead series starts at about 3, decreases to about 0.5 in late 2001, increases to about 4.6 in early 2006, decreases to about 3 by late 2007, increases to about 5 by early 2008, then decreases to end at about 1.8.
Change in Business Inventories
Industry | 2007 | 2008 | 2008 | |||||
---|---|---|---|---|---|---|---|---|
Q4 | Q1 | Q2 | Q3 | July | Aug. | Sept. | Oct. | |
Manufacturing and trade | 60.9 | 94.5 | 93.6 | 57.5 | 202.6 | 34.8 | -64.9 | -99.6 |
Previous | 58.1 | -63.2 | ||||||
Ex. wholesale and retail motor vehicles & parts | 69.1 | 95.8 | 97.5 | 46.3 | 132.6 | 65.0 | -58.6 | -96.9 |
Previous | 46.6 | -57.8 | ||||||
Manufacturing | 34.7 | 60.5 | 39.3 | 10.7 | 41.3 | 44.5 | -53.8 | -37.9 |
Wholesale trade | 27.5 | 39.0 | 53.8 | 30.8 | 80.1 | 32.7 | -20.3 | -56.1 |
Motor vehicles & parts | 5.6 | -.1 | 5.3 | 6.1 | 12.4 | 5.1 | .7 | -1.1 |
Ex. motor vehicles & parts | 21.8 | 39.0 | 48.5 | 24.8 | 67.7 | 27.6 | -21.0 | -54.9 |
Retail trade | -1.3 | -5.0 | .5 | 16.0 | 81.2 | -42.4 | 9.3 | -5.6 |
Motor vehicles & parts | -13.8 | -1.3 | -9.1 | 5.1 | 57.6 | -35.3 | -7.0 | -1.6 |
Ex. motor vehicles & parts | 12.6 | -3.7 | 9.6 | 10.9 | 23.6 | -7.1 | 16.2 | -4.1 |
Previous | 11.2 | 17.0 | ||||||
Furniture, home furnishing, electronic and appliance stores | 1.1 | -2.3 | 1.9 | 2.4 | 5.2 | .1 | 1.8 | 1.0 |
Building materials & garden equipment and supply dealers | 2.8 | 2.7 | -.5 | 5.9 | 6.0 | 7.2 | 4.4 | -2.3 |
Food and beverage stores | 2.3 | 1.9 | 2.0 | 2.1 | .8 | 1.7 | 4.0 | 2.3 |
Clothing and accessory stores | -.3 | -4.0 | -.1 | 1.2 | 3.1 | -.6 | 1.3 | .0 |
General merchandise | -.5 | -2.6 | 1.5 | .5 | -.5 | -8.3 | 10.3 | 1.6 |
Other1 | 7.2 | .6 | 4.9 | -1.2 | 9.0 | -7.2 | -5.4 | -6.7 |
1. Includes health and personal care stores; gasoline stations; sporting goods, hobby, book, and music stores; miscellaneous store retailers; and nonstore retailers. Return to table
Source: Census Bureau.
Figure: Inventory-Sales Ratio - Total Excluding Wholesale and Retail Motor Vehicles & Parts
1992 to October 2008, by Months' supply. Line chart. The series starts at about 1.53 and generally decreases to about 1.16 by mid-2008. It then increases to about 1.25 by the end.
Source: Census Bureau.
Recent Changes in Producer Price Indexes
Product | Weights1 | 12-month change2 | 3-month change | 2008 | |||||
---|---|---|---|---|---|---|---|---|---|
Nov. 2007 |
Nov. 2008 |
Aug. 2008 |
Nov. 2008 |
Aug. | Sept. | Oct. | Nov. | ||
Annual rate | Monthly rate | ||||||||
PPI finished goods | 100.0 | 7.3 | .4 | 8.3 | -19.5 | -.9 | -.4 | -2.8 | -2.2 |
Food | 21.3 | 7.3 | 6.7 | 9.1 | .0 | .3 | .2 | -.2 | .0 |
Energy | 21.7 | 23.6 | -15.4 | 15.6 | -68.0 | -5.0 | -2.9 | -12.8 | -11.2 |
Gasoline | 7.4 | 51.6 | -40.1 | 21.3 | -90.5 | -3.5 | -.5 | -24.9 | -25.7 |
Fuel oil | 1.0 | 35.9 | -21.9 | 2.9 | -87.4 | -13.6 | -13.9 | -9.6 | -23.3 |
Residential natural gas | 3.0 | 2.1 | 7.3 | 42.7 | -53.9 | -5.2 | -8.2 | -5.9 | -4.6 |
Residential electricity | 7.4 | 4.1 | 6.5 | 12.4 | 2.4 | .5 | -.2 | -.5 | 1.4 |
Other energy | 2.9 | 53.4 | -24.0 | -9.8 | -81.8 | -15.7 | -4.5 | -18.6 | -16.0 |
Finished goods ex. food and energy | 57.0 | 2.1 | 4.2 | 4.9 | 3.9 | .4 | .4 | .4 | .1 |
Consumer goods ex. food and energy | 35.3 | 2.4 | 4.4 | 4.9 | 3.7 | .5 | .5 | .3 | .1 |
Nondurables ex. food and energy | 21.2 | 3.7 | 5.9 | 7.0 | 4.1 | .6 | .5 | .3 | .2 |
Apparel | 1.5 | .7 | 1.1 | 2.7 | -.2 | .5 | -.2 | .0 | .2 |
Tobacco products | 3.4 | 8.1 | 3.3 | .4 | 1.8 | -.1 | .3 | .0 | .2 |
Other nondurables | 16.3 | 3.6 | 6.9 | 8.8 | 4.9 | .7 | .6 | .4 | .2 |
Durables | 14.1 | .8 | 2.5 | 2.6 | 2.9 | .4 | .4 | .4 | .0 |
Passenger cars | 2.1 | -.7 | 1.2 | 11.1 | -7.2 | .5 | .5 | -1.7 | -.6 |
Light trucks | 3.0 | -.3 | .6 | -13.4 | 14.5 | -.2 | 1.0 | 2.6 | -.1 |
Other durables | 9.1 | 1.5 | 3.5 | 6.3 | 1.8 | .5 | .1 | .1 | .2 |
Capital equipment | 21.7 | 1.5 | 3.8 | 4.3 | 3.9 | .3 | .5 | .5 | .1 |
Passenger cars | 1.3 | -.7 | 1.2 | 11.1 | -7.2 | .5 | .5 | -1.7 | -.6 |
Light trucks | 2.3 | -.3 | .6 | -13.4 | 14.5 | -.2 | 1.0 | 2.6 | -.1 |
Heavy trucks | .9 | 2.9 | 3.4 | 2.9 | 4.9 | .3 | -.3 | .2 | 1.3 |
Computers | .1 | -22.4 | -17.5 | -10.2 | -17.6 | -1.7 | -1.5 | -2.5 | -.8 |
Communication equipment | 1.6 | .8 | 1.7 | 1.5 | -.8 | .3 | .0 | -.2 | .0 |
Other capital equipment | 15.5 | 2.5 | 4.9 | 6.9 | 4.0 | .4 | .5 | .4 | .1 |
Memo: | |||||||||
Physicians3 | n.a. | 3.3 | 2.0 | 1.9 | 3.1 | .1 | .1 | .4 | .2 |
Hospitals3 | n.a. | 3.9 | 1.5 | 2.3 | -.6 | .2 | .2 | -.4 | .0 |
Applications software | n.a. | .0 | 1.1 | -1.2 | -.8 | -.6 | .2 | -.4 | .0 |
Intermediate materials ex. food and energy | 72.7 | 3.3 | 6.4 | 20.9 | -16.0 | 1.3 | -.3 | -1.7 | -2.3 |
Materials for nondurable manufacturing | 15.2 | 12.3 | 6.0 | 64.0 | -48.4 | 3.9 | -2.9 | -4.6 | -8.5 |
Materials for durable manufacturing | 8.6 | 1.8 | 1.6 | 16.8 | -42.3 | .5 | -3.2 | -4.1 | -6.2 |
Components for manufacturing | 15.1 | .4 | 4.2 | 8.0 | 1.1 | .6 | .4 | .0 | -.1 |
Other intermediate materials | 33.7 | 1.3 | 8.9 | 10.0 | 8.1 | .6 | 1.5 | -.4 | .8 |
Crude food materials | 32.8 | 19.9 | -5.4 | -8.1 | -43.0 | -5.0 | -1.1 | -11.1 | -1.2 |
Crude energy | 50.9 | 21.1 | -28.9 | -30.0 | -91.6 | -17.3 | -11.7 | -24.9 | -18.7 |
Other crude materials | 16.4 | 16.8 | -22.1 | 9.5 | -87.2 | -1.6 | -9.4 | -17.0 | -20.4 |
1. Relative importance weights for December 2007, which are based on 2002 shipment levels. Return to table
2. Not seasonally adjusted. Return to table
3. Seasonally adjusted by FRB staff. Return to table
Source: Bureau of Labor Statistics.
The Domestic Financial Economy
Figure: Household Net Worth
In Trillions of dollars, 2000 to 2008. Line chart. There are three series, "With revised real estate values", "With revised real estate and corporate equity values", and "Previous". With revised real estate values starts at about 43, decreases to about 40 by mid-2002, increases to about 59 by late 2007, and decreases to end at about 56. With revised real estate and corporate equity values starts at about 43, decreases to about 40 by mid-2002, increases to about 64 by late 2007, and decreases to end at about 59. Previous starts at about 43, decreases to about 39 by mid-2002, increases to about 58 by late 2007, and decreases to end at about 56.
Selected Financial Market Quotations
Instrument | 2007 | 2008 | Change to Dec. 11 from selected dates (percentage points) | ||||
---|---|---|---|---|---|---|---|
Aug. 6 | Sept. 15 | Oct. 28 | Dec. 11 | 2007 Aug. 6 | 2008 Sept. 15 | 2008 Oct. 28 | |
Short-term | |||||||
FOMC intended federal funds rate | 5.25 | 2.00 | 1.50 | 1.00 | -4.25 | -1.00 | -.50 |
Treasury bills1 | |||||||
3-month | 4.74 | 1.03 | .76 | .01 | -4.73 | -1.02 | -.75 |
6-month | 4.72 | 1.52 | 1.23 | .22 | -4.50 | -1.30 | -1.01 |
Commercial paper (A1/P1 rates)2 | |||||||
1-month | 5.26 | 2.47 | 2.71 | .41 | -4.85 | -2.06 | -2.30 |
3-month | 5.29 | 2.73 | 2.89 | 1.35 | -3.94 | -1.38 | -1.54 |
Large negotiable CDs1 | |||||||
3-month | 5.34 | 3.45 | 3.63 | 1.90 | -3.44 | -1.55 | -1.73 |
6-month | 5.27 | 3.85 | 3.73 | 2.37 | -2.90 | -1.48 | -1.36 |
Eurodollar deposits3 | |||||||
1-month | 5.33 | 2.70 | 3.75 | 1.75 | -3.58 | -.95 | -2.00 |
3-month | 5.35 | 3.00 | 4.50 | 3.00 | -2.35 | .00 | -1.50 |
Bank prime rate | 8.25 | 5.00 | 4.50 | 4.00 | -4.25 | -1.00 | -.50 |
Intermediate- and long-term | |||||||
U.S. Treasury4 | |||||||
2-year | 4.49 | 1.78 | 1.49 | .53 | -3.96 | -1.25 | -.96 |
5-year | 4.52 | 2.60 | 2.81 | 1.64 | -2.88 | -.96 | -1.17 |
10-year | 4.82 | 3.68 | 4.43 | 3.15 | -1.67 | -.53 | -1.28 |
U.S. Treasury indexed notes5 | |||||||
5-year | 2.43 | 1.25 | 3.64 | 2.83 | .40 | 1.58 | -.81 |
10-year | 2.48 | 1.70 | 3.29 | 2.59 | .11 | .89 | -.70 |
Municipal general obligations (Bond Buyer)6 | 4.51 | 4.54 | 5.32 | 5.85 | 1.34 | 1.31 | .53 |
Private instruments | |||||||
10-year swap | 5.44 | 4.24 | 4.26 | 2.88 | -2.56 | -1.36 | -1.38 |
10-year FNMA7 | 5.34 | 4.19 | 5.36 | 3.76 | -1.58 | -.43 | -1.60 |
10-year AA8 | 6.12 | 6.63 | 8.26 | 6.95 | .83 | .32 | -1.31 |
10-year BBB8 | 6.57 | 7.11 | 9.77 | 9.66 | 3.09 | 2.55 | -.11 |
10-year high yield8 | 9.21 | 10.86 | 16.27 | 18.42 | 9.21 | 7.56 | 2.15 |
Home mortgages (FHLMC survey rate) | |||||||
30-year fixed | 6.59 | 5.78 | 6.46 | 5.47 | -1.12 | -.31 | -.99 |
1-year adjustable | 5.65 | 5.03 | 5.38 | 5.09 | -.56 | .06 | -.29 |
Stock exchange index | Record high | 2008 | Change to Dec. 11 from selected dates (percent) | |||||
---|---|---|---|---|---|---|---|---|
Level | Date | Sept. 15 | Oct. 28 | Dec. 11 | Record high | 2008 Sept. 15 | 2008 Oct. 28 | |
Dow Jones Industrial | 14,165 | 10-9-07 | 10,918 | 9,065 | 8,565 | -39.53 | -21.55 | -5.52 |
S&P 500 Composite | 1,565 | 10-9-07 | 1,193 | 941 | 874 | -44.18 | -26.76 | -7.12 |
Nasdaq | 5,049 | 3-10-00 | 2,180 | 1,649 | 1,508 | -70.13 | -30.83 | -8.58 |
Russell 2000 | 856 | 7-13-07 | 690 | 483 | 451 | -47.27 | -34.58 | -6.49 |
Wilshire 5000 | 15,807 | 10-9-07 | 12,184 | 9,341 | 8,705 | -44.93 | -28.55 | -6.81 |
1. Secondary market. Return to table
2. Financial commercial paper. Return to table
3. Bid rates for Eurodollar deposits collected around 9:30 a.m. eastern time. Return to table
4. Derived from a smoothed Treasury yield curve estimated using off-the-run securities. Return to table
5. Derived from a smoothed Treasury yield curve estimated using all outstanding securities and adjusted for the carry effect. Return to table
6. Most recent Thursday quote. Return to table
7. Constant-maturity yields estimated from Fannie Mae domestic noncallable coupon securities. Return to table
8. Derived from smoothed corporate yield curves estimated using Merrill Lynch bond data. Return to table
NOTES:
August 6, 2007, is the day before the August 2007 FOMC meeting.
September 15, 2008, is the day before the September 2008 FOMC monetary policy announcement.
October 28, 2008, is the day before the most recent FOMC monetary policy announcement.
Data for the 3-month commercial paper on December 11, 2008, are from December 4, 2008, the most recent date for which a sufficient volume of new issues was available to calculate this rate.
Commercial Bank Credit
Type of credit | 2006 | 2007 | H1 2008 |
Q3 2008 |
Sept. 2008 |
Oct. 2008 |
Nov. 2008 |
Level1 Nov. 2008 |
---|---|---|---|---|---|---|---|---|
Total | 10.3 | 11.1 | 4.7 | 3.7 | 14.2 | 20.3 | -13.3 | 9,615 |
Loans2 | ||||||||
Total | 12.0 | 12.1 | 6.5 | 2.1 | 11.6 | 9.8 | -11.0 | 7,178 |
To businesses | ||||||||
Commercial and industrial | 14.3 | 19.1 | 13.8 | 5.7 | 21.7 | 49.1 | -3.0 | 1,598 |
Commercial real estate | 13.6 | 10.4 | 10.3 | 1.3 | -1.2 | 3.3 | 4.5 | 1,724 |
To households | ||||||||
Residential real estate | 9.9 | 8.4 | 2.4 | -4.9 | -5.7 | -5.4 | -7.8 | 2,060 |
Revolving home equity | 3.1 | 7.1 | 13.7 | 12.0 | 16.7 | 22.4 | 5.6 | 581 |
Other | 12.3 | 8.8 | -1.2 | -10.8 | -14.0 | -15.7 | -12.9 | 1,480 |
Consumer | 2.9 | 7.9 | 7.3 | 8.4 | 6.4 | 11.1 | 7.7 | 876 |
Originated3 | 3.9 | 7.1 | 7.5 | 5.7 | 7.4 | 12.7 | -2.3 | 1,295 |
Other4 | 21.1 | 17.5 | -2.4 | 8.1 | 62.1 | -9.7 | -74.8 | 919 |
Securities | ||||||||
Total | 5.6 | 8.4 | -.7 | 8.5 | 22.0 | 52.3 | -19.8 | 2,437 |
Treasury and agency | 2.0 | -5.8 | -1.0 | 24.1 | 30.5 | 79.4 | 62.5 | 1,405 |
Other5 | 10.8 | 27.9 | -.4 | -7.1 | 12.8 | 21.8 | -116.0 | 1,032 |
Note. Yearly annual rates are Q4 to Q4; quarterly and monthly annual rates use corresponding average levels. Data have been adjusted to remove the effects of mark-to-market accounting rules (FIN 39 and FAS 115), the initial consolidation of certain variable interest entities (FIN 46), the initial adoption of fair value accounting (FAS 159), and the effects of sizable nonbank structure activity in October 2006, March 2007, October 2007, September 2008, and November 2008. Data also account for breaks caused by reclassifications.
1. Billions of dollars. Pro rata averages of weekly (Wednesday) levels. Return to table
2. Excludes interbank loans. Return to table
3. Includes an estimate of outstanding loans securitized by commercial banks. Return to table
4. Includes security loans and loans to farmers, state and local governments, and all others not elsewhere classified. Also includes lease financing receivables. Return to table
5. Includes private mortgage-backed securities; securities of corporations, state and local governments, and foreign governments; and any trading account assets that are not Treasury or agency securities. Return to table
Source: Federal Reserve.
Figure: C&I Loan Rate Spreads
As Basis points, 1997 to 2008 Q4. Line chart. Data is quarterly. There are two series, "Weighted average" and "Weighted average adjusted". Weighted average starts at about 155, increases to about 200 by early 2004, decreases to about 180 by early 2008, and increases to end at about 195. Weighted average adjusted starts at about 155, increases to about 185 by early 2003, decreases to about 140 by early 2006, and increases to end at about 165.
Note: Spreads over market interest rate on an instrument of comparable maturity on loans less than $25 million (2006$). Weighted average adjusted is adjusted for changes in nonprice loan characteristics.
Source: Survey of Terms of Business Lending.
Figure: Growth of Unused Commitments
By Percent, data are Quarterly, line chart 1990 to 2008Q3. Series starts at about 12, decreases to about -1 in 1991, increases to about 14 in 1995, decreases to about -4 in 2003, increases to about 8 by 2006, and decreases to end at about -9.
Note: Data for 2008:Q3 are adjusted to remove the effect of JPMorgan Chase's acquisition of Washington Mutual. This panel has been corrected from the version in the Greenbook on December 10.
Source: Call Report.
Figure: Mark-to-Market of Non-Agency MBS
By Percent, data is Quarterly, 2004 to 2008Q3. Line chart. There are two series, "Top 25" and "Other", which track very closely throughout the chart. Top 25 starts at about 103 with Other at 101. They converge at about 98 in mid-2006, and decrease to end at about 84 (Other) and 85 (Top 25).
Note: The mark-to-market value of nonagency mortgage-backed securities (MBS) is defined as the fair value over historical cost for those banks that hold non-agency securities.
Source: Call Report.
The International Economy
Trade in Goods and Services
2007 | Annual rate | Monthly rate | |||||
---|---|---|---|---|---|---|---|
2008 | 2008 | ||||||
Q1 | Q2 | Q3 | Aug. | Sept. | Oct. | ||
Percent change | |||||||
Nominal BOP | |||||||
Exports | 14.5 | 15.7 | 22.9 | 11.9 | -1.6 | -6.4 | -2.2 |
Imports | 9.7 | 13.4 | 18.2 | 6.2 | -2.2 | -5.7 | -1.3 |
Real NIPA | |||||||
Exports | 8.9 | 5.1 | 12.3 | 3.4 | … | … | … |
Imports | 1.1 | -.8 | -7.3 | -3.2 | … | … | … |
Billions of dollars | |||||||
Nominal BOP | |||||||
Net exports | -700.3 | -708.4 | -720.3 | -706.1 | -58.9 | -56.6 | -57.2 |
Goods, net | -819.4 | -844.1 | -865.3 | -858.8 | -71.1 | -69.5 | -69.8 |
Services, net | 119.1 | 135.7 | 145.0 | 152.7 | 12.2 | 13.0 | 12.6 |
n.a. Not available.
… Not applicable. Return to table
BOP Balance of payments. Return to table
NIPA National income and product accounts. Return to table
Source: U.S. Dept. of Commerce, Bureau of Economic Analysis; Census Bureau.
U.S. International Trade In Goods and Services
(Quarterly)
Period | Billions of dollars, annual rate |
---|---|
1999:Q1 | -214.37 |
1999:Q2 | -253.70 |
1999:Q3 | -285.91 |
1999:Q4 | -305.80 |
2000:Q1 | -359.85 |
2000:Q2 | -363.60 |
2000:Q3 | -388.54 |
2000:Q4 | -406.98 |
2001:Q1 | -392.27 |
2001:Q2 | -356.45 |
2001:Q3 | -360.52 |
2001:Q4 | -352.05 |
2002:Q1 | -374.18 |
2002:Q2 | -415.79 |
2002:Q3 | -431.61 |
2002:Q4 | -472.60 |
2003:Q1 | -499.35 |
2003:Q2 | -494.75 |
2003:Q3 | -493.33 |
2003:Q4 | -501.14 |
2004:Q1 | -540.89 |
2004:Q2 | -598.85 |
2004:Q3 | -621.54 |
2004:Q4 | -669.38 |
2005:Q1 | -663.10 |
2005:Q2 | -682.80 |
2005:Q3 | -720.75 |
2005:Q4 | -778.16 |
2006:Q1 | -756.64 |
2006:Q2 | -767.52 |
2006:Q3 | -790.15 |
2006:Q4 | -699.72 |
2007:Q1 | -718.59 |
2007:Q2 | -715.25 |
2007:Q3 | -672.53 |
2007:Q4 | -694.87 |
2008:Q1 | -707.80 |
As shown in the figure, values near the end of the series are approximately as follows: 2008:Q2: -715, 2008:Q3: -706, October 2008: -690 billion dollars.
Period | Percentage points, annual rate |
---|---|
1999:Q1 | -1.67 |
1999:Q2 | -1.35 |
1999:Q3 | -0.75 |
1999:Q4 | 0.01 |
2000:Q1 | -1.53 |
2000:Q2 | -0.98 |
2000:Q3 | -0.87 |
2000:Q4 | -0.07 |
2001:Q1 | -0.04 |
2001:Q2 | 0.49 |
2001:Q3 | -0.56 |
2001:Q4 | -0.66 |
2002:Q1 | -0.97 |
2002:Q2 | -0.62 |
2002:Q3 | -0.49 |
2002:Q4 | -1.52 |
2003:Q1 | 0.21 |
2003:Q2 | -0.73 |
2003:Q3 | 0.51 |
2003:Q4 | -0.47 |
2004:Q1 | -0.75 |
2004:Q2 | -1.50 |
2004:Q3 | -0.42 |
2004:Q4 | -1.07 |
2005:Q1 | 0.28 |
2005:Q2 | 0.79 |
2005:Q3 | -0.07 |
2005:Q4 | -1.26 |
2006:Q1 | 0.09 |
2006:Q2 | 0.59 |
2006:Q3 | -0.12 |
2006:Q4 | 1.33 |
2007:Q1 | -1.20 |
2007:Q2 | 1.66 |
2007:Q3 | 2.03 |
2007:Q4 | 0.94 |
2008:Q1 | 0.77 |
2008:Q2 | 2.93 |
2008:Q3 | 1.07 |
Period | Aircraft | Consumer goods | Industrial supplies | Capital goods ex. aircraft |
---|---|---|---|---|
1999:Q1 | 56.75 | 78.76 | 127.09 | 245.36 |
1999:Q2 | 49.91 | 79.41 | 130.95 | 251.10 |
1999:Q3 | 52.49 | 81.01 | 135.15 | 262.71 |
1999:Q4 | 52.66 | 84.46 | 146.67 | 272.41 |
2000:Q1 | 43.99 | 87.61 | 151.80 | 285.57 |
2000:Q2 | 51.75 | 88.73 | 154.67 | 304.40 |
2000:Q3 | 48.69 | 91.55 | 162.62 | 325.50 |
2000:Q4 | 47.96 | 89.55 | 162.18 | 319.91 |
2001:Q1 | 56.10 | 92.64 | 156.31 | 307.84 |
2001:Q2 | 54.89 | 91.56 | 148.25 | 277.00 |
2001:Q3 | 50.95 | 85.15 | 141.09 | 251.25 |
2001:Q4 | 48.31 | 84.03 | 136.34 | 240.49 |
2002:Q1 | 49.56 | 82.59 | 135.34 | 235.71 |
2002:Q2 | 50.43 | 84.31 | 145.35 | 243.03 |
2002:Q3 | 53.68 | 85.54 | 147.53 | 243.47 |
2002:Q4 | 48.11 | 84.95 | 148.76 | 237.75 |
2003:Q1 | 45.71 | 86.93 | 157.86 | 236.88 |
2003:Q2 | 43.54 | 87.79 | 155.39 | 239.60 |
2003:Q3 | 45.66 | 91.05 | 155.15 | 247.42 |
2003:Q4 | 51.60 | 93.88 | 162.37 | 263.81 |
2004:Q1 | 49.10 | 97.69 | 175.26 | 274.07 |
2004:Q2 | 47.76 | 102.66 | 184.22 | 281.86 |
2004:Q3 | 51.12 | 104.22 | 190.43 | 283.62 |
2004:Q4 | 51.96 | 108.39 | 201.30 | 286.36 |
2005:Q1 | 54.61 | 111.56 | 209.25 | 290.33 |
2005:Q2 | 64.82 | 114.17 | 219.83 | 298.15 |
2005:Q3 | 58.81 | 115.99 | 216.19 | 303.76 |
2005:Q4 | 65.05 | 119.38 | 218.29 | 317.91 |
2006:Q1 | 72.40 | 123.47 | 235.60 | 328.55 |
2006:Q2 | 72.70 | 127.01 | 254.25 | 339.18 |
2006:Q3 | 73.18 | 130.68 | 261.60 | 342.64 |
2006:Q4 | 82.17 | 135.19 | 266.14 | 348.88 |
2007:Q1 | 81.17 | 140.92 | 267.44 | 348.98 |
2007:Q2 | 80.36 | 143.46 | 282.69 | 352.98 |
2007:Q3 | 91.47 | 149.59 | 295.17 | 366.24 |
2007:Q4 | 96.29 | 150.54 | 310.40 | 372.59 |
2008:Q1 | 91.13 | 156.85 | 332.39 | 374.90 |
2008:Q2 | 91.32 | 163.90 | 378.95 | 389.19 |
2008:Q3 | 91.94 | 169.54 | ND | 396.20 |
As shown in the figure, the "Industrial supplies" series ends in 2008:Q3 at a little under 400 billion dollars.
Period | Oil | Industrial supplies | Consumer goods | Capital goods |
---|---|---|---|---|
1999:Q1 | 42.21 | 140.96 | 229.77 | 278.81 |
1999:Q2 | 63.80 | 145.79 | 234.39 | 291.60 |
1999:Q3 | 79.56 | 153.15 | 246.43 | 300.83 |
1999:Q4 | 85.73 | 162.22 | 256.78 | 311.50 |
2000:Q1 | 107.78 | 168.43 | 266.57 | 320.46 |
2000:Q2 | 117.88 | 173.09 | 279.78 | 346.19 |
2000:Q3 | 127.99 | 179.81 | 286.81 | 362.05 |
2000:Q4 | 127.35 | 182.82 | 294.15 | 359.33 |
2001:Q1 | 125.26 | 189.64 | 291.95 | 339.57 |
2001:Q2 | 108.55 | 170.98 | 286.39 | 299.80 |
2001:Q3 | 97.14 | 160.40 | 282.19 | 280.07 |
2001:Q4 | 83.36 | 152.03 | 277.03 | 272.76 |
2002:Q1 | 81.57 | 151.42 | 287.10 | 277.53 |
2002:Q2 | 104.06 | 160.33 | 305.80 | 285.46 |
2002:Q3 | 106.87 | 164.33 | 317.60 | 285.35 |
2002:Q4 | 121.69 | 170.70 | 320.53 | 284.85 |
2003:Q1 | 142.13 | 174.38 | 326.24 | 285.88 |
2003:Q2 | 125.86 | 174.40 | 327.78 | 292.06 |
2003:Q3 | 131.23 | 180.71 | 333.74 | 294.03 |
2003:Q4 | 133.13 | 181.82 | 347.83 | 311.57 |
2004:Q1 | 160.79 | 199.50 | 355.69 | 324.33 |
2004:Q2 | 166.50 | 224.93 | 376.34 | 340.41 |
2004:Q3 | 177.91 | 240.23 | 372.21 | 349.84 |
2004:Q4 | 216.38 | 248.51 | 387.63 | 359.78 |
2005:Q1 | 214.05 | 255.78 | 403.85 | 363.30 |
2005:Q2 | 229.98 | 257.77 | 409.29 | 381.21 |
2005:Q3 | 266.51 | 259.93 | 404.57 | 381.52 |
2005:Q4 | 296.38 | 296.33 | 410.64 | 391.26 |
2006:Q1 | 292.81 | 288.60 | 425.15 | 404.26 |
2006:Q2 | 313.87 | 291.75 | 435.74 | 415.41 |
2006:Q3 | 333.35 | 303.59 | 448.49 | 426.26 |
2006:Q4 | 269.73 | 291.83 | 461.35 | 427.47 |
2007:Q1 | 284.09 | 289.01 | 476.06 | 435.43 |
2007:Q2 | 312.57 | 304.93 | 472.65 | 439.71 |
2007:Q3 | 332.02 | 305.09 | 470.64 | 449.62 |
2007:Q4 | 396.00 | 297.44 | 480.02 | 453.06 |
2008:Q1 | 448.56 | 303.39 | 477.92 | 454.29 |
2008:Q2 | 494.17 | 331.02 | 493.55 | 469.43 |
2008:Q3 | ND | 343.77 | 499.61 | 464.01 |
As shown in the figure, the Oil series ends in 2008:Q3 at approximately 520 billion dollars.
Source: U.S. Dept. of Commerce, Bureau of Economic Analysis; Census Bureau.
U.S. Exports and Imports of Goods and Services
Levels | Change1 | |||||||
---|---|---|---|---|---|---|---|---|
2008 | 2008 | 2008 | 2008 | |||||
Q2 | Q3 | Sept. | Oct. | Q2 | Q3 | Sept. | Oct. | |
Exports of goods and services | 1902.0 | 1956.2 | 1861.1 | 1820.7 | 95.4 | 54.2 | -126.3 | -40.4 |
Goods exports | 1349.2 | 1386.1 | 1293.8 | 1257.6 | 78.0 | 36.9 | -120.8 | -36.2 |
Gold | 19.0 | 17.7 | 19.7 | 14.3 | -5.6 | -1.3 | 8.4 | -5.4 |
Other goods | 1330.2 | 1368.4 | 1274.1 | 1243.2 | 83.6 | 38.2 | -129.3 | -30.8 |
Capital goods | 480.6 | 487.8 | 457.5 | 456.2 | 14.4 | 7.2 | -50.3 | -1.4 |
Aircraft & parts | 91.3 | 91.7 | 70.1 | 61.4 | .0 | .4 | -40.9 | -8.6 |
Computers & accessories | 47.2 | 46.5 | 42.2 | 41.5 | 3.9 | -.7 | -4.4 | -.7 |
Semiconductors | 51.3 | 53.4 | 53.4 | 49.6 | -1.0 | 2.1 | -.1 | -3.8 |
Other capital goods | 290.8 | 296.2 | 291.9 | 303.6 | 11.5 | 5.4 | -4.9 | 11.7 |
Automotive | 124.2 | 131.9 | 124.0 | 121.2 | 1.8 | 7.7 | -1.7 | -2.8 |
Ind. supplies (ex. ag., gold) | 379.0 | 398.4 | 354.4 | 343.7 | 46.4 | 19.4 | -65.9 | -10.7 |
Consumer goods | 163.9 | 169.5 | 161.8 | 159.9 | 7.0 | 5.5 | -6.2 | -1.9 |
Agricultural | 129.8 | 129.9 | 123.3 | 112.9 | 12.0 | .0 | -9.2 | -10.4 |
All other goods | 52.7 | 51.0 | 53.2 | 49.4 | 1.9 | -1.7 | -57.4 | -3.7 |
Services exports | 552.7 | 570.1 | 567.3 | 563.2 | 17.4 | 17.3 | -5.4 | -4.1 |
Imports of goods and services | 2622.3 | 2662.4 | 2539.8 | 2507.0 | 107.3 | 40.0 | -153.9 | -32.8 |
Goods imports | 2214.6 | 2245.0 | 2128.2 | 2095.3 | 99.2 | 30.4 | -139.1 | -32.9 |
Oil | 494.5 | 525.7 | 438.8 | 452.0 | 45.8 | 31.3 | -87.7 | 13.2 |
Gold | 12.6 | 12.7 | 17.6 | 8.4 | -5.3 | .1 | 10.6 | -9.2 |
Other goods | 1707.5 | 1706.5 | 1671.8 | 1634.9 | 58.7 | -1.0 | -62.0 | -36.9 |
Capital goods | 469.3 | 464.0 | 464.8 | 447.5 | 14.9 | -5.3 | 5.7 | -17.3 |
Aircraft & parts | 38.1 | 34.2 | 34.7 | 31.4 | 1.1 | -3.9 | 1.9 | -3.2 |
Computers & accessories | 109.4 | 103.3 | 99.0 | 95.7 | 5.1 | -6.1 | -4.5 | -3.3 |
Semiconductors | 26.8 | 26.1 | 26.1 | 25.7 | .6 | -.8 | 1.0 | -.4 |
Other capital goods | 295.0 | 300.5 | 305.1 | 294.7 | 8.2 | 5.4 | 7.4 | -10.4 |
Automotive | 249.9 | 232.8 | 221.6 | 210.5 | -7.4 | -17.1 | -9.8 | -11.1 |
Ind. supplies (ex. oil, gold) | 331.0 | 343.7 | 337.7 | 324.4 | 27.4 | 12.7 | -15.6 | -13.2 |
Consumer goods | 493.5 | 499.4 | 482.5 | 488.1 | 15.2 | 6.0 | -40.4 | 5.6 |
Foods, feeds, beverages | 90.1 | 91.7 | 91.2 | 92.1 | 4.7 | 1.7 | -2.3 | 1.0 |
All other goods | 73.7 | 74.8 | 74.0 | 72.2 | 3.8 | 1.1 | .5 | -1.8 |
Services imports | 407.7 | 417.4 | 411.6 | 411.7 | 8.1 | 9.6 | -14.8 | .1 |
Memo: | ||||||||
Oil quantity (mb/d) | 12.47 | 12.28 | 11.22 | 13.49 | -1.59 | -.19 | -.94 | 2.27 |
Oil import price ($/bbl) | 108.65 | 116.91 | 107.12 | 91.76 | 21.06 | 8.26 | -11.51 | -15.36 |
1. Change from previous quarter or month. Return to table
Source: U.S. Dept. of Commerce, Bureau of Economic Analysis; Census Bureau.
Prices of U.S. Imports and Exports
Period | Core goods | Non-oil goods |
---|---|---|
January 1999 | -1.71 | -2.64 |
February 1999 | -1.48 | -2.26 |
March 1999 | -1.49 | -2.37 |
April 1999 | -1.39 | -2.27 |
May 1999 | -1.08 | -1.88 |
June 1999 | -0.91 | -1.69 |
July 1999 | -0.56 | -1.40 |
August 1999 | -0.13 | -0.90 |
September 1999 | 0.18 | -0.50 |
October 1999 | 0.03 | -0.50 |
November 1999 | 0.22 | -0.20 |
December 1999 | 0.57 | 0.00 |
January 2000 | 0.54 | -0.10 |
February 2000 | 0.85 | 0.30 |
March 2000 | 1.40 | 1.01 |
April 2000 | 1.61 | 1.32 |
May 2000 | 1.28 | 0.91 |
June 2000 | 1.22 | 1.11 |
July 2000 | 1.63 | 1.62 |
August 2000 | 1.66 | 1.62 |
September 2000 | 1.11 | 1.11 |
October 2000 | 1.02 | 1.01 |
November 2000 | 0.44 | 0.50 |
December 2000 | 0.70 | 1.31 |
January 2001 | 1.14 | 2.21 |
February 2001 | 0.60 | 1.10 |
March 2001 | -0.08 | 0.00 |
April 2001 | -0.62 | -0.60 |
May 2001 | -0.71 | -0.70 |
June 2001 | -0.63 | -1.00 |
July 2001 | -1.82 | -2.40 |
August 2001 | -2.21 | -2.79 |
September 2001 | -1.90 | -2.70 |
October 2001 | -2.21 | -3.20 |
November 2001 | -2.39 | -3.30 |
December 2001 | -3.02 | -4.47 |
January 2002 | -3.64 | -5.41 |
February 2002 | -3.68 | -5.06 |
March 2002 | -3.36 | -4.20 |
April 2002 | -2.65 | -3.22 |
May 2002 | -2.50 | -3.02 |
June 2002 | -2.39 | -2.73 |
July 2002 | -1.29 | -1.64 |
August 2002 | -0.80 | -1.23 |
September 2002 | -0.69 | -0.92 |
October 2002 | -0.26 | -0.41 |
November 2002 | -0.06 | -0.31 |
December 2002 | 0.49 | 0.31 |
January 2003 | 0.73 | 0.73 |
February 2003 | 1.29 | 1.46 |
March 2003 | 1.74 | 2.40 |
April 2003 | 1.15 | 0.83 |
May 2003 | 1.10 | 0.73 |
June 2003 | 1.40 | 1.14 |
July 2003 | 1.35 | 1.14 |
August 2003 | 1.01 | 0.73 |
September 2003 | 1.20 | 0.93 |
October 2003 | 1.26 | 0.83 |
November 2003 | 1.69 | 1.14 |
December 2003 | 1.81 | 1.24 |
January 2004 | 2.29 | 1.76 |
February 2004 | 2.51 | 1.85 |
March 2004 | 2.55 | 1.02 |
April 2004 | 3.33 | 2.37 |
May 2004 | 3.60 | 2.79 |
June 2004 | 3.30 | 2.47 |
July 2004 | 3.30 | 2.47 |
August 2004 | 3.84 | 3.09 |
September 2004 | 3.98 | 2.88 |
October 2004 | 3.75 | 2.88 |
November 2004 | 3.87 | 3.59 |
December 2004 | 4.01 | 3.68 |
January 2005 | 4.00 | 3.15 |
February 2005 | 3.75 | 2.83 |
March 2005 | 3.62 | 2.93 |
April 2005 | 3.33 | 3.02 |
May 2005 | 3.06 | 2.61 |
June 2005 | 2.99 | 2.31 |
July 2005 | 2.59 | 2.11 |
August 2005 | 2.22 | 1.90 |
September 2005 | 2.25 | 2.70 |
October 2005 | 2.70 | 3.80 |
November 2005 | 2.20 | 2.78 |
December 2005 | 1.91 | 2.37 |
January 2006 | 1.76 | 2.36 |
February 2006 | 1.57 | 1.57 |
March 2006 | 1.20 | 0.98 |
April 2006 | 1.24 | 0.68 |
May 2006 | 2.16 | 1.57 |
June 2006 | 2.81 | 2.16 |
July 2006 | 3.07 | 2.36 |
August 2006 | 3.44 | 2.75 |
September 2006 | 3.26 | 1.95 |
October 2006 | 2.66 | 0.39 |
November 2006 | 3.21 | 1.45 |
December 2006 | 3.32 | 1.93 |
January 2007 | 3.27 | 1.54 |
February 2007 | 3.18 | 2.23 |
March 2007 | 3.46 | 2.82 |
April 2007 | 3.71 | 3.01 |
May 2007 | 3.45 | 2.89 |
June 2007 | 3.17 | 2.78 |
July 2007 | 3.42 | 2.88 |
August 2007 | 3.34 | 2.39 |
September 2007 | 3.10 | 2.19 |
October 2007 | 3.82 | 3.36 |
November 2007 | 3.86 | 3.14 |
December 2007 | 3.98 | 3.03 |
January 2008 | 4.60 | 3.88 |
February 2008 | 5.37 | 4.55 |
March 2008 | 6.38 | 5.38 |
April 2008 | 7.40 | 6.50 |
May 2008 | 7.44 | 6.65 |
June 2008 | 8.02 | 7.28 |
July 2008 | 8.54 | 7.84 |
August 2008 | 8.43 | 7.37 |
September 2008 | 7.89 | 6.54 |
October 2008 | 6.37 | 5.01 |
As shown in the figure, values near the end of the series are as follows: The Core goods series continues its downward trend from about 6.3 to about 3.8. The Non-oil goods series continues its downward trend from about 5 to about 2.3.
Period | Finished goods | Material-intensive goods |
---|---|---|
January 1999 | -0.56 | -4.50 |
February 1999 | -0.38 | -4.24 |
March 1999 | -0.43 | -4.14 |
April 1999 | -0.40 | -4.09 |
May 1999 | -0.31 | -3.19 |
June 1999 | -0.34 | -2.48 |
July 1999 | -0.19 | -1.32 |
August 1999 | 0.00 | -0.30 |
September 1999 | 0.38 | -0.07 |
October 1999 | -0.12 | 0.62 |
November 1999 | -0.36 | 2.07 |
December 1999 | -0.36 | 3.26 |
January 2000 | -0.45 | 3.41 |
February 2000 | -0.65 | 4.77 |
March 2000 | -0.53 | 6.68 |
April 2000 | -0.28 | 6.75 |
May 2000 | -0.21 | 5.36 |
June 2000 | -0.28 | 5.45 |
July 2000 | 0.04 | 5.74 |
August 2000 | -0.14 | 6.40 |
September 2000 | -0.48 | 5.24 |
October 2000 | -0.43 | 4.92 |
November 2000 | -0.55 | 3.00 |
December 2000 | -0.52 | 3.81 |
January 2001 | -0.51 | 5.04 |
February 2001 | -0.51 | 3.45 |
March 2001 | -0.15 | 0.17 |
April 2001 | -0.49 | -0.72 |
May 2001 | -0.65 | -0.73 |
June 2001 | -0.45 | -1.16 |
July 2001 | -0.79 | -4.02 |
August 2001 | -0.73 | -5.91 |
September 2001 | -0.52 | -5.14 |
October 2001 | -0.42 | -6.56 |
November 2001 | -0.56 | -7.02 |
December 2001 | -0.52 | -9.17 |
January 2002 | -0.87 | -10.10 |
February 2002 | -0.98 | -10.07 |
March 2002 | -1.40 | -8.05 |
April 2002 | -1.17 | -6.12 |
May 2002 | -1.10 | -5.48 |
June 2002 | -0.96 | -5.23 |
July 2002 | -0.73 | -2.19 |
August 2002 | -0.55 | -0.75 |
September 2002 | -0.73 | 0.22 |
October 2002 | -0.71 | 1.64 |
November 2002 | -0.75 | 2.85 |
December 2002 | -0.56 | 4.09 |
January 2003 | -0.25 | 4.31 |
February 2003 | -0.05 | 6.11 |
March 2003 | 0.27 | 6.52 |
April 2003 | 0.30 | 4.38 |
May 2003 | 0.40 | 3.55 |
June 2003 | 0.52 | 4.21 |
July 2003 | 0.46 | 4.03 |
August 2003 | 0.23 | 3.87 |
September 2003 | 0.18 | 4.04 |
October 2003 | 0.33 | 4.31 |
November 2003 | 0.78 | 4.96 |
December 2003 | 0.67 | 5.60 |
January 2004 | 1.10 | 6.18 |
February 2004 | 1.11 | 7.19 |
March 2004 | 1.18 | 7.81 |
April 2004 | 1.14 | 10.67 |
May 2004 | 1.09 | 12.78 |
June 2004 | 0.73 | 11.62 |
July 2004 | 1.10 | 11.46 |
August 2004 | 1.33 | 13.19 |
September 2004 | 1.54 | 13.41 |
October 2004 | 1.45 | 12.50 |
November 2004 | 1.48 | 12.43 |
December 2004 | 2.01 | 12.62 |
January 2005 | 2.04 | 12.18 |
February 2005 | 2.23 | 10.41 |
March 2005 | 2.05 | 10.25 |
April 2005 | 2.13 | 8.83 |
May 2005 | 2.20 | 6.90 |
June 2005 | 2.37 | 7.02 |
July 2005 | 1.80 | 6.21 |
August 2005 | 1.65 | 4.77 |
September 2005 | 1.74 | 4.64 |
October 2005 | 1.59 | 6.38 |
November 2005 | 1.23 | 5.88 |
December 2005 | 0.67 | 5.61 |
January 2006 | 0.35 | 6.13 |
February 2006 | 0.24 | 6.12 |
March 2006 | 0.17 | 4.99 |
April 2006 | 0.13 | 5.03 |
May 2006 | 0.25 | 8.69 |
June 2006 | 0.45 | 10.82 |
July 2006 | 0.95 | 10.44 |
August 2006 | 1.05 | 11.28 |
September 2006 | 0.97 | 11.11 |
October 2006 | 1.11 | 9.00 |
November 2006 | 1.26 | 9.65 |
December 2006 | 1.47 | 9.51 |
January 2007 | 1.57 | 8.80 |
February 2007 | 1.46 | 8.13 |
March 2007 | 1.67 | 8.33 |
April 2007 | 1.77 | 9.10 |
May 2007 | 1.68 | 7.76 |
June 2007 | 1.66 | 6.54 |
July 2007 | 1.58 | 7.61 |
August 2007 | 1.78 | 7.09 |
September 2007 | 1.81 | 5.80 |
October 2007 | 1.93 | 7.75 |
November 2007 | 2.16 | 7.90 |
December 2007 | 2.30 | 7.90 |
January 2008 | 2.43 | 9.62 |
February 2008 | 2.72 | 11.49 |
March 2008 | 3.02 | 14.04 |
April 2008 | 3.67 | 15.73 |
May 2008 | 3.77 | 15.47 |
June 2008 | 3.70 | 17.41 |
July 2008 | 3.78 | 18.89 |
August 2008 | 3.68 | 18.76 |
September 2008 | 3.53 | 17.39 |
October 2008 | 3.34 | 12.91 |
As shown in the figure, values near the end of the series are as follows: The Finished goods series continues its downward trend from about 4 to about 3.5. The Material-intensive goods series continues its downward trend from about 13 to about 6.
Period | Spot West Texas Intermediate | Import unit value |
---|---|---|
January 1999 | 12.47 | 9.88 |
February 1999 | 12.01 | 10.05 |
March 1999 | 14.66 | 11.20 |
April 1999 | 17.34 | 13.67 |
May 1999 | 17.75 | 15.25 |
June 1999 | 17.89 | 15.11 |
July 1999 | 20.07 | 16.80 |
August 1999 | 21.26 | 18.70 |
September 1999 | 23.88 | 20.49 |
October 1999 | 22.64 | 21.35 |
November 1999 | 24.86 | 21.74 |
December 1999 | 26.13 | 23.31 |
January 2000 | 27.27 | 24.02 |
February 2000 | 29.35 | 26.17 |
March 2000 | 29.89 | 27.43 |
April 2000 | 25.74 | 25.19 |
May 2000 | 28.78 | 25.35 |
June 2000 | 31.86 | 27.41 |
July 2000 | 29.72 | 28.35 |
August 2000 | 31.22 | 27.16 |
September 2000 | 33.88 | 29.74 |
October 2000 | 33.08 | 29.33 |
November 2000 | 34.40 | 29.41 |
December 2000 | 28.46 | 27.49 |
January 2001 | 29.58 | 25.54 |
February 2001 | 29.61 | 25.55 |
March 2001 | 27.24 | 24.02 |
April 2001 | 27.41 | 23.54 |
May 2001 | 28.64 | 24.47 |
June 2001 | 27.60 | 24.17 |
July 2001 | 26.45 | 23.01 |
August 2001 | 27.47 | 23.06 |
September 2001 | 25.88 | 23.94 |
October 2001 | 22.21 | 20.47 |
November 2001 | 19.67 | 17.83 |
December 2001 | 19.33 | 16.31 |
January 2002 | 19.67 | 17.14 |
February 2002 | 20.74 | 17.48 |
March 2002 | 24.42 | 20.41 |
April 2002 | 26.27 | 23.39 |
May 2002 | 27.02 | 24.49 |
June 2002 | 25.52 | 24.12 |
July 2002 | 26.94 | 24.62 |
August 2002 | 28.38 | 25.41 |
September 2002 | 29.67 | 26.31 |
October 2002 | 28.85 | 27.14 |
November 2002 | 26.27 | 25.01 |
December 2002 | 29.42 | 25.06 |
January 2003 | 32.94 | 28.26 |
February 2003 | 35.87 | 31.53 |
March 2003 | 33.55 | 31.79 |
April 2003 | 28.25 | 27.23 |
May 2003 | 28.14 | 25.08 |
June 2003 | 30.72 | 26.32 |
July 2003 | 30.76 | 27.55 |
August 2003 | 31.59 | 28.56 |
September 2003 | 28.29 | 27.28 |
October 2003 | 30.33 | 27.12 |
November 2003 | 31.05 | 27.42 |
December 2003 | 32.15 | 28.08 |
January 2004 | 34.24 | 29.80 |
February 2004 | 34.74 | 30.45 |
March 2004 | 36.76 | 32.03 |
April 2004 | 36.69 | 32.60 |
May 2004 | 40.29 | 35.04 |
June 2004 | 38.04 | 35.37 |
July 2004 | 40.80 | 35.19 |
August 2004 | 44.94 | 37.91 |
September 2004 | 45.95 | 39.17 |
October 2004 | 53.13 | 43.42 |
November 2004 | 48.46 | 41.12 |
December 2004 | 43.33 | 37.67 |
January 2005 | 46.84 | 37.13 |
February 2005 | 47.97 | 39.04 |
March 2005 | 54.22 | 43.36 |
April 2005 | 53.04 | 46.78 |
May 2005 | 49.83 | 45.17 |
June 2005 | 56.40 | 46.72 |
July 2005 | 58.70 | 50.75 |
August 2005 | 64.97 | 54.89 |
September 2005 | 65.57 | 60.25 |
October 2005 | 62.36 | 59.55 |
November 2005 | 58.30 | 54.38 |
December 2005 | 59.43 | 51.82 |
January 2006 | 65.51 | 54.70 |
February 2006 | 61.63 | 55.39 |
March 2006 | 62.94 | 54.78 |
April 2006 | 69.69 | 60.32 |
May 2006 | 70.98 | 65.50 |
June 2006 | 70.96 | 65.03 |
July 2006 | 74.41 | 68.19 |
August 2006 | 73.05 | 68.04 |
September 2006 | 63.87 | 63.03 |
October 2006 | 58.88 | 56.51 |
November 2006 | 59.33 | 53.77 |
December 2006 | 62.02 | 55.60 |
January 2007 | 54.16 | 53.25 |
February 2007 | 59.26 | 52.74 |
March 2007 | 60.56 | 56.35 |
April 2007 | 63.96 | 61.11 |
May 2007 | 63.46 | 64.30 |
June 2007 | 67.48 | 65.55 |
July 2007 | 74.12 | 69.28 |
August 2007 | 72.39 | 70.44 |
September 2007 | 79.93 | 70.64 |
October 2007 | 85.93 | 74.88 |
November 2007 | 94.62 | 82.19 |
December 2007 | 91.70 | 84.25 |
January 2008 | 92.95 | 85.41 |
February 2008 | 95.35 | 85.66 |
March 2008 | 105.56 | 91.57 |
April 2008 | 112.57 | 98.89 |
May 2008 | 125.39 | 108.44 |
June 2008 | 133.93 | 118.62 |
July 2008 | 133.44 | 124.67 |
August 2008 | 116.70 | 118.63 |
September 2008 | 103.90 | 107.12 |
October 2008 | 76.66 | 91.76 |
November 2008 | 57.28 | ND |
As shown in the figure, near the end of the series, Spot West Texas Intermediate continues its downward trend to about 45 dollars per barrel.
Period | Import price index (2000 = 100) | Spot Henry Hub (Dollars per million Btu) |
---|---|---|
January 1999 | 57.90 | 1.84 |
February 1999 | 53.90 | 1.77 |
March 1999 | 48.40 | 1.80 |
April 1999 | 49.30 | 2.16 |
May 1999 | 56.40 | 2.26 |
June 1999 | 53.10 | 2.30 |
July 1999 | 60.50 | 2.32 |
August 1999 | 64.30 | 2.80 |
September 1999 | 68.80 | 2.52 |
October 1999 | 70.10 | 2.74 |
November 1999 | 80.40 | 2.33 |
December 1999 | 73.20 | 2.36 |
January 2000 | 67.40 | 2.44 |
February 2000 | 74.80 | 2.65 |
March 2000 | 76.20 | 2.79 |
April 2000 | 80.30 | 3.03 |
May 2000 | 78.80 | 3.58 |
June 2000 | 95.60 | 4.27 |
July 2000 | 100.50 | 3.96 |
August 2000 | 102.30 | 4.41 |
September 2000 | 108.30 | 5.07 |
October 2000 | 119.00 | 5.02 |
November 2000 | 123.60 | 5.54 |
December 2000 | 173.20 | 8.95 |
January 2001 | 215.50 | 8.17 |
February 2001 | 166.30 | 5.66 |
March 2001 | 123.80 | 5.16 |
April 2001 | 126.60 | 5.17 |
May 2001 | 120.50 | 4.21 |
June 2001 | 101.90 | 3.71 |
July 2001 | 81.90 | 3.10 |
August 2001 | 80.80 | 2.94 |
September 2001 | 77.30 | 2.15 |
October 2001 | 61.10 | 2.45 |
November 2001 | 74.30 | 2.37 |
December 2001 | 67.90 | 2.39 |
January 2002 | 69.70 | 2.25 |
February 2002 | 58.00 | 2.31 |
March 2002 | 64.90 | 3.03 |
April 2002 | 86.20 | 3.42 |
May 2002 | 84.50 | 3.49 |
June 2002 | 85.10 | 3.22 |
July 2002 | 80.00 | 2.98 |
August 2002 | 76.60 | 3.09 |
September 2002 | 84.00 | 3.55 |
October 2002 | 90.70 | 4.12 |
November 2002 | 93.60 | 4.03 |
December 2002 | 98.80 | 4.72 |
January 2003 | 121.20 | 5.44 |
February 2003 | 132.10 | 7.79 |
March 2003 | 190.70 | 5.95 |
April 2003 | 124.70 | 5.27 |
May 2003 | 123.20 | 5.81 |
June 2003 | 134.60 | 5.82 |
July 2003 | 125.10 | 5.03 |
August 2003 | 112.00 | 4.97 |
September 2003 | 117.80 | 4.62 |
October 2003 | 109.30 | 4.65 |
November 2003 | 109.50 | 4.49 |
December 2003 | 117.40 | 6.15 |
January 2004 | 142.50 | 6.17 |
February 2004 | 141.40 | 5.39 |
March 2004 | 123.60 | 5.38 |
April 2004 | 125.40 | 5.71 |
May 2004 | 131.80 | 6.30 |
June 2004 | 143.70 | 6.29 |
July 2004 | 137.10 | 5.93 |
August 2004 | 137.20 | 5.44 |
September 2004 | 120.50 | 5.11 |
October 2004 | 121.80 | 6.39 |
November 2004 | 169.90 | 6.16 |
December 2004 | 167.30 | 6.62 |
January 2005 | 153.30 | 6.13 |
February 2005 | 147.00 | 6.13 |
March 2005 | 148.20 | 6.92 |
April 2005 | 166.40 | 7.20 |
May 2005 | 163.00 | 6.48 |
June 2005 | 151.20 | 7.16 |
July 2005 | 161.70 | 7.64 |
August 2005 | 168.20 | 9.46 |
September 2005 | 217.00 | 11.88 |
October 2005 | 270.80 | 13.42 |
November 2005 | 274.00 | 10.28 |
December 2005 | 259.20 | 13.05 |
January 2006 | 254.60 | 8.65 |
February 2006 | 193.90 | 7.54 |
March 2006 | 169.20 | 6.90 |
April 2006 | 164.00 | 7.16 |
May 2006 | 164.20 | 6.23 |
June 2006 | 150.80 | 6.19 |
July 2006 | 149.10 | 6.22 |
August 2006 | 161.40 | 7.14 |
September 2006 | 152.80 | 4.90 |
October 2006 | 117.70 | 5.84 |
November 2006 | 168.50 | 7.36 |
December 2006 | 185.70 | 6.73 |
January 2007 | 161.20 | 6.60 |
February 2007 | 169.00 | 7.92 |
March 2007 | 177.10 | 7.10 |
April 2007 | 172.50 | 7.59 |
May 2007 | 175.80 | 7.62 |
June 2007 | 174.70 | 7.35 |
July 2007 | 160.70 | 6.21 |
August 2007 | 140.40 | 6.23 |
September 2007 | 136.40 | 6.08 |
October 2007 | 151.40 | 6.78 |
November 2007 | 175.90 | 7.15 |
December 2007 | 178.40 | 7.13 |
January 2008 | 182.40 | 7.98 |
February 2008 | 198.30 | 8.54 |
March 2008 | 211.60 | 9.44 |
April 2008 | 225.70 | 10.13 |
May 2008 | 247.70 | 11.28 |
June 2008 | 271.30 | 12.68 |
July 2008 | 284.10 | 11.06 |
August 2008 | 225.30 | 8.25 |
September 2008 | 183.50 | 7.67 |
October 2008 | 176.60 | 6.73 |
November 2008 | ND | 6.67 |
As shown in the figure, near the end of the series, Spot Henry Hub continues its downward trend to about 6 dollars per million Btu.
Period | Core goods | Total goods |
---|---|---|
January 1999 | -2.09 | -2.76 |
February 1999 | -2.00 | -2.67 |
March 1999 | -2.16 | -2.78 |
April 1999 | -1.61 | -2.19 |
May 1999 | -1.52 | -2.19 |
June 1999 | -1.12 | -1.70 |
July 1999 | -0.83 | -1.41 |
August 1999 | 0.05 | -0.61 |
September 1999 | 0.74 | 0.00 |
October 1999 | 1.18 | 0.41 |
November 1999 | 1.16 | 0.41 |
December 1999 | 1.29 | 0.51 |
January 2000 | 1.42 | 0.71 |
February 2000 | 2.20 | 1.32 |
March 2000 | 3.04 | 2.15 |
April 2000 | 2.85 | 1.94 |
May 2000 | 2.84 | 2.04 |
June 2000 | 2.70 | 1.93 |
July 2000 | 2.60 | 1.94 |
August 2000 | 2.04 | 1.42 |
September 2000 | 2.56 | 1.93 |
October 2000 | 2.13 | 1.52 |
November 2000 | 1.89 | 1.31 |
December 2000 | 1.63 | 1.11 |
January 2001 | 1.65 | 1.11 |
February 2001 | 0.97 | 0.60 |
March 2001 | 0.29 | 0.00 |
April 2001 | 0.22 | -0.10 |
May 2001 | -0.26 | -0.60 |
June 2001 | -0.38 | -0.70 |
July 2001 | -0.63 | -1.00 |
August 2001 | -0.63 | -1.00 |
September 2001 | -1.08 | -1.39 |
October 2001 | -1.58 | -1.99 |
November 2001 | -2.10 | -2.49 |
December 2001 | -2.04 | -2.50 |
January 2002 | -2.19 | -2.79 |
February 2002 | -2.38 | -2.89 |
March 2002 | -1.90 | -2.40 |
April 2002 | -1.34 | -1.90 |
May 2002 | -0.97 | -1.61 |
June 2002 | -0.56 | -1.41 |
July 2002 | 0.26 | -0.71 |
August 2002 | 0.68 | -0.30 |
September 2002 | 0.90 | -0.20 |
October 2002 | 1.42 | 0.41 |
November 2002 | 2.16 | 1.02 |
December 2002 | 2.07 | 1.02 |
January 2003 | 2.39 | 1.44 |
February 2003 | 3.33 | 2.26 |
March 2003 | 3.27 | 2.15 |
April 2003 | 2.63 | 1.63 |
May 2003 | 2.64 | 1.73 |
June 2003 | 2.54 | 1.53 |
July 2003 | 1.95 | 1.12 |
August 2003 | 1.71 | 0.91 |
September 2003 | 1.84 | 1.01 |
October 2003 | 2.26 | 1.32 |
November 2003 | 2.67 | 1.72 |
December 2003 | 3.21 | 2.23 |
January 2004 | 3.66 | 2.63 |
February 2004 | 3.72 | 2.71 |
March 2004 | 4.34 | 3.31 |
April 2004 | 5.23 | 4.12 |
May 2004 | 5.54 | 4.41 |
June 2004 | 4.73 | 3.92 |
July 2004 | 5.45 | 4.53 |
August 2004 | 4.91 | 4.02 |
September 2004 | 4.82 | 4.01 |
October 2004 | 5.20 | 4.40 |
November 2004 | 4.96 | 4.18 |
December 2004 | 4.79 | 3.97 |
January 2005 | 4.87 | 4.04 |
February 2005 | 4.28 | 3.42 |
March 2005 | 4.25 | 3.30 |
April 2005 | 4.13 | 3.09 |
May 2005 | 3.50 | 2.50 |
June 2005 | 4.11 | 3.19 |
July 2005 | 3.80 | 2.79 |
August 2005 | 4.31 | 3.09 |
September 2005 | 4.86 | 3.56 |
October 2005 | 5.03 | 3.74 |
November 2005 | 3.96 | 2.77 |
December 2005 | 3.97 | 2.77 |
January 2006 | 3.85 | 2.75 |
February 2006 | 3.92 | 2.74 |
March 2006 | 3.32 | 2.26 |
April 2006 | 3.59 | 2.53 |
May 2006 | 4.64 | 3.47 |
June 2006 | 5.55 | 4.22 |
July 2006 | 5.76 | 4.49 |
August 2006 | 6.44 | 5.16 |
September 2006 | 4.94 | 3.91 |
October 2006 | 3.74 | 2.86 |
November 2006 | 4.88 | 3.90 |
December 2006 | 5.50 | 4.46 |
January 2007 | 5.28 | 4.15 |
February 2007 | 6.13 | 4.88 |
March 2007 | 6.87 | 5.42 |
April 2007 | 6.46 | 5.11 |
May 2007 | 5.94 | 4.62 |
June 2007 | 5.53 | 4.32 |
July 2007 | 5.11 | 4.03 |
August 2007 | 4.73 | 3.75 |
September 2007 | 5.62 | 4.48 |
October 2007 | 6.92 | 5.57 |
November 2007 | 7.55 | 6.17 |
December 2007 | 7.36 | 6.04 |
January 2008 | 8.34 | 6.81 |
February 2008 | 8.46 | 6.94 |
March 2008 | 9.74 | 7.93 |
April 2008 | 9.73 | 7.99 |
May 2008 | 9.89 | 8.05 |
June 2008 | 10.61 | 8.71 |
July 2008 | 12.71 | 10.25 |
August 2008 | 10.27 | 8.25 |
September 2008 | 8.77 | 7.03 |
October 2008 | 5.22 | 4.08 |
As shown in the figure, values near the end of the series are as follows: For Core goods, the series continues its downward trend from about 5.7 to about 0.1. For Total goods, the series continues its downward trend from about 4 to about -0.1.
Period | Finished goods | Material-intensive goods |
---|---|---|
January 1999 | 0.33 | -5.85 |
February 1999 | 0.36 | -5.74 |
March 1999 | 0.33 | -5.88 |
April 1999 | 0.46 | -4.73 |
May 1999 | 0.37 | -4.44 |
June 1999 | 0.57 | -3.60 |
July 1999 | 0.50 | -3.07 |
August 1999 | 0.62 | -0.79 |
September 1999 | 0.56 | 1.16 |
October 1999 | 0.70 | 2.22 |
November 1999 | 0.80 | 1.95 |
December 1999 | 0.71 | 2.40 |
January 2000 | 0.61 | 2.86 |
February 2000 | 0.67 | 5.06 |
March 2000 | 0.74 | 7.24 |
April 2000 | 0.76 | 6.42 |
May 2000 | 0.89 | 6.64 |
June 2000 | 0.80 | 5.97 |
July 2000 | 1.04 | 5.64 |
August 2000 | 1.06 | 3.84 |
September 2000 | 1.02 | 5.26 |
October 2000 | 0.78 | 4.24 |
November 2000 | 0.74 | 3.84 |
December 2000 | 0.91 | 3.16 |
January 2001 | 0.98 | 2.95 |
February 2001 | 0.90 | 0.90 |
March 2001 | 1.00 | -0.86 |
April 2001 | 1.01 | -0.94 |
May 2001 | 0.91 | -2.23 |
June 2001 | 0.94 | -2.37 |
July 2001 | 0.86 | -3.03 |
August 2001 | 0.71 | -2.64 |
September 2001 | 0.74 | -3.96 |
October 2001 | 0.83 | -5.28 |
November 2001 | 0.81 | -6.56 |
December 2001 | 0.71 | -6.63 |
January 2002 | 0.55 | -6.48 |
February 2002 | 0.43 | -6.73 |
March 2002 | 0.35 | -5.63 |
April 2002 | 0.36 | -3.98 |
May 2002 | 0.32 | -3.03 |
June 2002 | 0.32 | -1.68 |
July 2002 | 0.21 | 0.68 |
August 2002 | 0.38 | 1.40 |
September 2002 | 0.41 | 2.24 |
October 2002 | 0.37 | 3.81 |
November 2002 | 0.38 | 5.51 |
December 2002 | 0.29 | 5.71 |
January 2003 | 0.43 | 6.39 |
February 2003 | 0.64 | 8.76 |
March 2003 | 0.45 | 9.25 |
April 2003 | 0.39 | 7.40 |
May 2003 | 0.42 | 7.20 |
June 2003 | 0.51 | 6.69 |
July 2003 | 0.64 | 4.73 |
August 2003 | 0.52 | 4.33 |
September 2003 | 0.46 | 4.61 |
October 2003 | 0.51 | 5.75 |
November 2003 | 0.55 | 7.01 |
December 2003 | 0.73 | 8.16 |
January 2004 | 0.77 | 9.24 |
February 2004 | 0.72 | 9.28 |
March 2004 | 0.91 | 10.48 |
April 2004 | 1.05 | 12.54 |
May 2004 | 1.06 | 13.36 |
June 2004 | 0.97 | 11.24 |
July 2004 | 1.03 | 13.14 |
August 2004 | 1.21 | 11.46 |
September 2004 | 1.25 | 11.06 |
October 2004 | 1.42 | 11.63 |
November 2004 | 1.54 | 10.85 |
December 2004 | 1.69 | 10.12 |
January 2005 | 1.88 | 9.46 |
February 2005 | 1.87 | 8.20 |
March 2005 | 1.83 | 7.87 |
April 2005 | 1.91 | 7.48 |
May 2005 | 1.88 | 6.07 |
June 2005 | 1.80 | 7.67 |
July 2005 | 1.58 | 7.09 |
August 2005 | 1.48 | 8.67 |
September 2005 | 1.63 | 9.85 |
October 2005 | 1.55 | 10.05 |
November 2005 | 1.37 | 7.41 |
December 2005 | 1.28 | 7.49 |
January 2006 | 1.26 | 7.47 |
February 2006 | 1.38 | 7.50 |
March 2006 | 1.44 | 5.95 |
April 2006 | 1.60 | 6.31 |
May 2006 | 1.79 | 8.61 |
June 2006 | 2.04 | 10.65 |
July 2006 | 2.36 | 10.64 |
August 2006 | 2.44 | 12.12 |
September 2006 | 2.40 | 8.58 |
October 2006 | 2.35 | 5.61 |
November 2006 | 2.48 | 8.66 |
December 2006 | 2.52 | 9.91 |
January 2007 | 2.74 | 8.99 |
February 2007 | 2.62 | 11.05 |
March 2007 | 2.68 | 12.68 |
April 2007 | 2.63 | 11.79 |
May 2007 | 2.59 | 10.51 |
June 2007 | 2.53 | 9.36 |
July 2007 | 2.49 | 8.51 |
August 2007 | 2.52 | 7.54 |
September 2007 | 2.42 | 9.67 |
October 2007 | 2.54 | 12.81 |
November 2007 | 2.61 | 13.80 |
December 2007 | 2.83 | 13.16 |
January 2008 | 2.64 | 15.61 |
February 2008 | 2.87 | 15.41 |
March 2008 | 3.00 | 17.92 |
April 2008 | 3.04 | 17.83 |
May 2008 | 3.02 | 18.16 |
June 2008 | 2.98 | 19.71 |
July 2008 | 3.11 | 24.18 |
August 2008 | 3.25 | 18.66 |
September 2008 | 3.33 | 15.22 |
October 2008 | 3.41 | 7.35 |
As shown in the figure, values near the end of the series are as follows: The Finished goods series decreases slightly to about 3. The Material-intensive goods series continues its downward trend from about 8 to about -3.
Source: Bureau of Labor Statistics; Wall Street Journal; Commodity Research Bureau.
Prices of U.S. Imports and Exports
Annual rate | Monthly rate | |||||
---|---|---|---|---|---|---|
2008 | 2008 | |||||
Q2 | Q3 | Q4e | Sept. | Oct. | Nov. | |
BLS prices | ||||||
Merchandise imports | 36.6 | 4.3 | -39.0 | -3.5 | -5.4 | -6.7 |
Oil | 152.1 | 6.2 | -85.1 | -11.2 | -19.8 | -25.8 |
Non-oil | 12.9 | 3.4 | -9.5 | -.9 | -.9 | -1.8 |
Core goods1 | 13.3 | 6.2 | -8.6 | -.5 | -.9 | -2.1 |
Finished goods | 5.3 | 2.4 | -.5 | -.0 | .0 | -.4 |
Cap. goods ex. comp. & semi. | 8.7 | 4.6 | -.5 | .2 | -.1 | -.4 |
Automotive products | 2.3 | 1.4 | -.7 | -.1 | .1 | -.6 |
Consumer goods | 4.9 | 1.4 | -.3 | -.1 | .1 | -.3 |
Material-intensive goods | 31.4 | 13.9 | -22.7 | -1.4 | -2.8 | -5.6 |
Foods, feeds, beverages | 19.1 | 11.2 | -17.5 | -1.6 | -1.4 | -5.0 |
Industrial supplies ex. fuels | 35.0 | 14.8 | -24.2 | -1.3 | -3.2 | -5.7 |
Computers | -3.9 | -8.4 | -6.3 | -.9 | -.4 | -.7 |
Semiconductors | -4.9 | -6.5 | -.7 | .0 | -.4 | .0 |
Natural gas | 149.9 | -25.1 | -66.6 | -18.6 | -3.8 | -1.2 |
Merchandise exports | 10.2 | 3.8 | -17.2 | -.8 | -2.0 | -3.2 |
Core goods2 | 12.5 | 5.2 | -20.0 | -.9 | -2.4 | -3.8 |
Finished goods | 3.2 | 2.9 | 1.5 | .1 | .4 | -.3 |
Cap. goods ex. comp. & semi. | 4.0 | 3.4 | 1.6 | .1 | .3 | -.2 |
Automotive products | 1.8 | 1.2 | 1.3 | .1 | .3 | -.1 |
Consumer goods | 2.1 | 3.0 | 1.4 | .3 | .5 | -.9 |
Material-intensive goods | 23.2 | 7.6 | -38.3 | -2.0 | -5.2 | -7.7 |
Agricultural products | 14.4 | 5.8 | -46.9 | .1 | -8.4 | -7.0 |
Industrial supples ex. ag. | 26.8 | 8.4 | -35.8 | -2.7 | -4.2 | -8.2 |
Computers | -9.1 | -8.9 | -8.3 | -.6 | -1.1 | -.5 |
Semiconductors | -.8 | -5.9 | -10.1 | -.1 | -2.4 | .0 |
NIPA prices | ||||||
Chain price index | ||||||
Imports of goods & services | 28.8 | 9.2 | n.a | … | … | … |
Non-oil merchandise | 11.2 | 2.9 | n.a | … | … | … |
Core goods1 | 10.6 | 4.6 | n.a | … | … | … |
Exports of goods & services | 10.8 | 6.7 | n.a | … | … | … |
Total merchandise | 12.3 | 5.7 | n.a | … | … | … |
Core goods2 | 13.9 | 6.7 | n.a | … | … | … |
1. Excludes computers, semiconductors, and natural gas. Return to table
2. Excludes computers and semiconductors. Return to table
e Estimate based on average of two months. Return to table
n.a. Not available.
… Not applicable.
BLS Bureau of Labor Statistics. Return to table
NIPA National income and product accounts.
Source: U.S. Dept. of Commerce, Bureau of Economic Analysis; Bureau of Labor Statistics.
† Note: Data values for figures are rounded and may not sum to totals. Return to text