Full text of National Economic Trends : June 1968
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n m io n n i Economic P R EP A R ED MONTH EN D IN G : BY May 31, 1968 FED ER A L R ESER V E BAN K trchds OF ST. LOUIS R E L E A SE D : June 20, 1968 The p r e s s u r e s e x e rte d on p r ic e s by the rapid expan sion o f dem and fo r goods and s e r v ic e s a re indicated by a c o m p a r is o n o f re c e n t and lo n g -ru n grow th trends o f total spending and re a l p rod u ct. R ea l p rod u ct r o s e at a 5 .2 p er cen t annual rate fr o m f ir s t q u a rter 1961 to f ir s t q u a rter 1968, a rate slig h tly g re a te r than the 5 per cent in c r e a s e fr o m se co n d qu a rter 1967 to fir s t q u a rter 1968. H ow ever, spending in d o lla r te rm s in c r e a s e d at a 9 p er cen t rate o v e r the past three q u a rte rs co m p a re d with a 7. 3 p er cen t rate sin ce 1961. Both c o n su m er and w h olesa le p r ic e s r e fle c t the e ffe c ts of the a c c e le r a t io n in e c o n o m ic a ctiv ity . W h olesale p r ic e s r o s e by n e a rly 3 p er cent in the year ending in A p r il, and co n su m e r p r ic e s in c re a s e d by 4 per cent. U nem ploym ent continued at 3. 5 p er cen t o f the la b o r fo r c e in M ay, r e c o r d in g the lo w e s t sustain ed 6 -m on th jo b le s s rate sin ce 1953. O ver the past year total em ploym en t, buoyed la r g e ly by jo b gains fo r adult w om en, r o s e at a 3 .1 p er cent annual ra te. E m p loym en t sin ce e a rly 1961 has shown a 2 per cen t rate o f in c r e a s e . In du strial p rod u ction has clim b e d at a 5 .7 p er cen t annual rate sin ce e a rly la s t su m m e r. The co n su m e r goods c a te g o ry of in d u s tria l p rod u ction d em on stra ted co n s id e r a b ly m o re grow th than b u sin ess equipm ent o v e r the p e rio d . M a n u fa ctu re rs1 in v e n to rie s, w hich had m ounted slo w ly during the fir s t q u a rter, advanced sh a rp ly to an A p r il high pushing up the in v e n to rie s-sh ip m e n ts ra tio . D espite ris in g m ortg a g e c o s t s , new housing sta rts continued to expand a fte r su ffe rin g a d rop during the w inter m onths. R e ce n t rapid in c r e a s e s in the m on ey sto ck in d icate to quantity th e o ris ts that the lik e lih o o d is g rea t that total spending w ill c o n tinue to r is e in the third qu a rter at a p p ro x im a te ly the f i r s t half p a ce. On the other hand, so m e other m on eta ry analysts e x p e ct a m a rk ed slow in g in dem and fr o m the lagged e ffe c t o f re ce n t in te re s t rate in c r e a s e s , and som e fis c a l e co n o m is ts anticipate that the tax in c r e a s e and expen diture cut w ill p rod u ce a sig n ifica n t slow dow n in spending in the third q u a rter. 2 TOTAL CIVILIAN EMPL OYMENT jCQMP.flUNOEP ANNUAL RAT E S OF C JriA M L - TEB.M l.NAL- T H OUS AN DS OF PERSONS - . I NI - I I A L - M QNT H MONTH 1 0 -6 6 1 1-66 12-66 01-67 02-67 03-67 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 03-68 04-6 8 8 . 6 ________________________________________________________________________________________ ____________________________________ ;_____________ ________________________ 12rAiL01-67 _Q2riLZ_ u. 1 T H ì OSÌL. JL-JL. _____7 4 . 0 6 3 _ Ä * J _____ L a _ 03-67 1.7 04-67 1.7 Û5-6 7 .6 2 . 2 - ___ 3^_a.4 .6 .7- - fi • 8— 1.0- 1.9 2-2- 2.7- 2.2- 73,939 6. 1- 73,550 7 4 , 169 06-67 1.8 .8 la 0 .2 .4 1.9 T.9 10.6 07-67 2. 1 1.4 1.6 1.0 1.4 2.7 3.0 7.3 5.1 C8-Ó 7 2.2 1.5 1.8 1.3 1.6 2.8 3.0 6.2 4.1 3.0 09-67 2.Ü 1.3 1.5 1. 1 1.3 2.2 2.3 4.5 2.6 1.3 .4- 2.0 1 .4 2.3 1.4 .6 10-67 1.5 1.2 1.4 2.1 2.2 3.9 74,478 74.664 74.638 74,735 1.6 75.005 11-67 2. 1 1.6 i.e 1.5 1.7 2.4 2.5 4.0 2.7 2.1 1.8 3.0 4.4 12-67 2.7 2.2 r.4 2.2 2.5 3.2 3.3 4.8 3.8 3.6 3.7 5.1 7.0 01-68 2.0 1.6 1.7 1.5 1.6 2.2 2.2 3.3 2.3 1.9 1.6 2.1 2.3 1.3 6. 3- 02-6 8 2.5 2.1 2.2 2.0 2. i 2.8 2.9 4.0 3.2 2.9 2.9 3.6 4. 1 3.9 1.2 03-68 2.1* 2.0 2.2 2.0 ? »2 2.7 2.8 3.7 3.0 2.7 2.6 3.1 3.5 3.2 1.2 5.2 04-68 2. 1 1.7 1.9 1.7 i.e 2.3 2.3 3.1 2.4 2.1 2.0 2.3 2.4 2.0 .2 2.5 . 7 - 2 . 6 - 05-68 2.2 1. 8 1.9 1.8 1.9 2.3 2.4 3.1 2.5 2.2 2.1 2.4 2.5 2.2 .8 2.7 .5 .2 3.1 10-66 11-66 11 2 - 6 6 01-67 C2-67 03-67 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 03-68 04-6 8 INITIAL 75,577 9.6 75,167 75,731 9.4 75,802 1.1 75,636 75,829 MONTH PREPARED J U N E 1 4, BY F EDERAL 1968 RE S E R VE BANK OF ST. LOUIS P AY R OL L EMPL OYMENT COMPOUNDED ANNUAL R A T E S OF CHANGE T E R MI N A L MONTH INITIAL 10-66 11-66 12-66 11-66 4.2 12-66 4.7 . . 5.2.. 01-67 4.7 4.9 02-67 4. 1 4,0.1 __ 3 ,5 03-67 0*4-6 7 03-67 _5*3 . C 1-67 02-67. 03-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 65,524 65.646 1 . 4 ____ . 5.. 1.6 .6 2.4 2.1 1.5 .7 65.672 .2-• 1,0- 65,619 65.677 1. 1 C6-67 2.4 2.2 1.7 1.1 .8 07-6 7 2.4 2.1 1.7 1.2 1.C 08-67 2.6 2.4 2.1 1.7 1 . 7 ___ 1. 9 oy-67 7 2.1 J . 7 ___ J . . J L _ _ J . 3 . . V 1.1 _1 . 4 1 . 9 ___ 2 . 7 1.9 2.3 65,821 1.8 65,920 2.6 3 . L ___ 3_*4_____ 5 . C __________________ 1.9 2.1 1.9 1.9 66tl86 1.2- 66,123 1C-67 2.3 2.2 l.v 1.6 1.5 1.6 2.0 2.2 2.1 2.2 .9 3.0 11-6 7 2.3 2.7 2.5 2.3 2. i 2.5 3. 1 3.4 3.5 4.0 3.6 6.1 12-67 3.C 2.9 2.7 2.6 2.6 2.8 3.3 3.6 3.8 4.2 4.0 5.8 7.2 5.2 01-68 *> r 2.7 2.5 2.3 2.4 2.5 2.9 3.2 3.3 3.5 3.2 4.3 4.7 2.6 .0 3. 04-68 05-6 6 :< 1 66,286 9.3 66,778 67,060 67,058 3.2 ?. 1 2.9 3.C 3 . 2 .... J3. 6 3.9 4.1 4.4 4.3 5.5 6. 1 5.0 4.9 10.2 3.1 2.9 2.6 2.8 3.0 3.4 3.6 3.7 4.0 3.8 4.7 5.0 4.0 3.6 5.5 67,600 1.0 67,656 3.0 2.9 2.8 2.8 3. C 3.3 3.5 3.6 3.8 3.6 4.4 4.6 3.7 3.3 4.4 1.6 2.3 ?.'/ 2 •£ 2. f 2.6 2.6 2.8 3. 1 3.2 3.3 3.4 3.2 3.8 3.9 3.1 2.6 3.3 1.1 1.2 .1 1 0-66 11-C6 1 2-66 01-67 02-67 03-67 0 4-6 7 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 03-68 04-68 INITIAL P- 04-6 8 .....2 . 3 . 2.Ü 3.1 03-68 4.7 2.3 05-68 02-68 65,272 ...3 . 1 ... C2-6 3 01-68 65,000 2.6 7 04-67 T H OUS ANDS OF PERSONS MONTH 6 7 , 7 84f 67,788F MONTH HR C L I M1 V A R Y PREPARED BY F E D E R A L J U N E 1 4 , 196 8 RE S E*VE BANK OF ST. LOUIS 3 Em ploym ent Ratio Scale Ratio Scale Source : U.S. D e p a r t m e n t of L a b o r Percentages are a n n u a l rates of c h a n g e between periods indicated.They are presented to aid in comparing m ostrecentdevelopm ents with p a s f t r e n d s . ” L a t e s t d a t a plotted: M a y prelim inary P repared b y Federal Reserve Bank of St. Louis 4 I N D U S T R I A L PRODUCTION - Cf l MEf l UNQED A N N U A L R A I E S _QF C H A N G E TERMINAL MO N T H INITIAL 10-66 11-66 11-66 12-66 01-67 02-67 03-67 04-67 05-67 1957-5 9 MO N T H 06-67 07-67 08-67 11-67 12-67 01-68 02-68 03-68 -4 3.0- 3 .3- 9 .3- 02-67 S. ?- 6.1- 1C.4- 159.5 3.1 158.2 11.5- 156.6 03-67 4.5- 5.0— 7 .5- 6.6— 1.5- _04-67 3 .6- 3.9- 5.5- 4.2— .4 - 05-6 7 4 . 1- 4 .4- 5.8- 4.9- 2.5- 3.0- 6.7- 06-67 3.6- 3.7- 156.4 4 .8- 3.9- 1.9- 2.0- 3.4- 2.0- .0 .4 .3 3.9 8.0 1.9 2.6 3.1 6.6 10.0 12.1 156.5 .8 155.6 155.6 .0 07-67 2 .3- 2 .3- 08-67 1.0- .8- 1.3- .1- 09-6 7 1 .8- 1.7- 2.2- 1.3- .2 .5 .5 2.3 3.1 .8 9.4- 10-67 1 .6- 1.5- 2.0- 1.1- .3 .6 .5 2.0 2.5 .8 4 .5- 1 156.6 3 .1- .1 .3 .0 1.0 2.5 3.0 3.3 5.1 6.1 5.7 158.1 156.8 156.9 .8 3.6 10.8 21.8 159.5 1.4 1.7 1.6 2.6 4.2 4.8 5.3 7.2 8.4 8.5 7.6 13.9 21.2 20.5 .9 1.1 1.0 1.9 3.2 3.7 4.0 5.5 6.3 6.0 4.8 8.7 11.4 6.6 5.8- 1.2 1.5 1.3 2.2 3.5 3.9 4.2 5.5 6.2 6.0 5.0 8.2 10. 1 6.4 .0 03-68 1.6 1.8 1.8 2.6 3.8 4.2 4.5 5.7 6.4 6.2 5.4 8.1 9.6 6.7 2.5 6.9 7.7 04-68 1.3 1.5 1.4 2.2 3.2 3.6 3.8 4.9 5.3 5.1 4.2 6.3 7.3 4.6 .9 3.3 1.9 3.6- 05-68 1.7 1.9 1.9 2.6 3.6 4.0 4.2 5.2 5.7 5.5 4.8 6.7 7.6 5.3 2.5 4.7 4.3 2.6 9.3 10-66 11-66 12-66 01-67 02-67 03-67 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 03-68 04-68 7 o 0» o 02-68 INITIAL P- 1 00 159.1 12-66 12-67 / 04-68 2.2- 01-67 o 10-67 09-67 1 62.0 1 61.2 6.1 162.0 163.0 1 6 2 . 5P 1 6 3 . 7P MON T H PRELIMINARY PREPARED J U N E 18» BY F E D E R A L 1968 RESERVE BANK OF ST. LOUIS 5 Industrial Production I960 1961 1962 1963 1964 1965 1966 1967 1968 Percentages are a n n u a l rates of ch ange between periods indicated.They are presented to aid in comparing most recentdevelopm ents with p a s f t r e n d s . ” Latest d a t a plotted: M a y p relim inary P repared b y Federal Reserve Bank of St. Louis 6 R E T A I L SALES COMPOUNDED ANNUAL R A T E S T E R MI N A L MONTH INITIAL IQ-66 11-66 11-66 2.9 12-6 6 4.2- 01-67 2.2 02-67 12-66 01-67 C2-67 03-67 04-67 05-67 06-67 QF CHANGE M I L L I O N S OF DOLLARS MONTH 07-67 08-67 09-67 10-67 11-67 12-67 02-68 0 3 - 68 0 4 - 6 8 25.368 10.8 1.8 .9- 25.687 16.2 2.2- 2.4 9.7- 03-67 1.8 1.5 6 *0 1.2 13.4 0*4- 67 2.9 2.9 ¿.6 3.7 11.0 8.7 05-6 7 2.3 2.3 5.1 2.5 6.9 3.7 06-67 5.9 6.3 9.5 8.2 13.2 13.1 15.4 34.5 07-67 4.7 4.9 7.4 6.0 9.4 8.5 8.4 13.4 25.470 2 5 » 7 39 25.918 25,897 1.0- 08-6 7 4.1 4.3 6.3 5.0 7.6 6.5 6.0 8.4 09-67 5.1 5.3 7.2 6.2 8.6 7.9 7.7 10.0 10-67 2.1 2.0 2.4 2.1 3.7 2.3 1.3 11-67 3.1 3.1 4.5 3.4 5.0 3.9 12-6 7 3.1 3.1 4.3 3.3 4.7 3.8 01-68 4.7 4.9 6.2 5.4 6.9 02-68 5.4 5.6 6.8 6.1 7.6 26,544 4.4- 26,444 26,422 2.7- 1.0- 2.9 6.7 1.8 5.1- 5.3- 3.3 4.0 1.2- 3.2 3.8 .6 - 6.2 6.0 6.8 7.1 6.9 7.8 26,732 15.0 2 6,089 7.3- 25.3- .4- .2- 7 .0- 15.8 .2 .5 3.9- 9.1 2.7 3.4 4.8 5.9 3.8 15.8 15.8 30.6 4.9 6.3 7.5 6.1 15.8 15.8 23.0 15.8 26,411 26,470 27,065 27,399 7.0 7.3 6.6 8.1 9.6 9.3 9.3 10.4 8.0 9.7 11.3 10.7 19.7 20.7 27.4 25.8 36.6 00 0 1 o 28,120 03-68 5.2 5.3 6.4 5.8 7.C 6.5 6.4 7.1 4.6 5.7 6.6 5.4 11.6 10.8 12.9 7.6 3.7 21 . 3 5.1 - 05-68 5.7 5.8 6.9 10-66 1 1-66 12-66 6. 3 Cl-67 7.5 7.1 7.0 7.6 5.5 6.5 7.4 6.5 12.0 11.4 13.2 9.3 7.2 C2-67 03-67 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 INITIAL P- 2 7 , 876P 04-68 PRELIMINARY ----------- INITIAL 10-66 11-66 12-66 11-66 9.6 12-66 7.8 6.0 01-67 8.9 8.6 11.2 02-67 7.8 7.2 7.8 01-67 02-67 03-67 04-67 BY F E D E R AL 1968 RE S E RVE BANK OF ST. LOUIS P ERS ONAL I NCOME ' C0 MP 0 U N0 E 0 ANNUAL R A T E S OF CHANGE T E R MI N A L MONTH 05-67 06-67 MONTH 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-6 8 03 - 6 8 B I L L I O N S OF DO L L A R S ANNUAL R A T E S 04-6 8 602.1 605.0 610.4 4.4 612.6 03-67 7.4 6.9 7.2 5.2 6.0 0U— 6 7 6.5 5.8 5.8 4.1 3.9 1. 8 05-67 6.0 5.4 5.3 3.9 3.7 2. 6 615.6 616.5 3.4 618.2 06-67 6.4 5.9 5.9 4.9 5.0 4. 6 6.1 8.9 07-67 6.6 6.3 6.3 5.5 5.7 5. 7 7.0 8.9 8.8 08-67 6.9 6.6 6.7 6.0 6.3 6. 4 7.5 9.0 9.0 9.2 09-67 6.8 6.5 6.5 6.0 6.2 6. 2 7.1 8.1 7.8 7.3 5.5 622.6 627.0 631.6 10-67 6.4 6.1 6.2 5.6 5.8 5. 7 6.4 7.0 6.6 5.8 4.2 2.9 6.9 6.7 6.8. 6.3 6.5 6. 6 7.3 8.0 7.8 7.6 7.0 7.8 13.0 12-67 7.4 7.2 7.3 7.0 7.2 7. 4 8.1 8.8 8.8 8.8 8.7 9.7 13.3 13.7 7 634.4 11-67 7. 1 6.9 7.0 6.6 6.8 6. 9 7.5 8.0 7.9 7.8 7.5 8.0 9.8 8.2 00 0 3 - 68 27.565P 14.4 MONTH PREPARED J U N E 12, o 01-68 25.610 635.9 642.4 649.3 3.0 650.9 02-68 7.7 7.5 7.7 7.4 7.6 7. 8 8.4 9.0 9.0 9.0 9.0 9.7 11.5 11.0 9.7 16.9 03-68 8.0 7.9 8.1 7.8 8.1 8. 3 8.9 9.5 9.5 9.6 9.7 10.4 11.9 11.7 11.0 15.3 13.7 659.4 666.5 OU-68 7.9 7.8 7.9 7.7 8.0 8. 1 8.7 9.1 9.2 9.2 9.2 9.8 11.0 10.6 9.8 12.1 9.9 6.1 05-68 7.9 7.8 7.9 7.7 7.9 8. 1 8.6 9.0 9.0 9.1 9.1 9.5 10.5 10.1 9.4 11.0 9.2 7.0 7.8 10-66 11-66 12-66 01*67 02-67 03-67 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-6 8 03 - 6 8 04-6 8 INITIAL 669.8 6 7 4 . OP MONTH PRE PA RE D BY F E D E R A L J UNE 18, m e R E S E R V E BANK OF ST * LOUIS 7 Retail Sales I960 1961 1962 1963 1964 1965 1966 1967 1968 Sour ce: U. S. D e p a r t m e n t of C o m m e r c e Percentages are ann ua l rates of change between periods ind icated. Th ey are presented to aid in comparing most recent developments with past "trends.’ Latest d a t a pl ot t ed: M a y p r e l i m i n a r y Prepared by Federal *eserveBwi kofS*. Leim Personal Income Ratio Scale Billions of D ollars M o n t h l y Totals at A n n u a l Rates Se a sona llyAdju sted Ratio Scale Billions of Dollars 650 600 550 500 450 400 350 Sou rce : U.S. D e p ar tm e nt of C o m m e r c e Percentages are annual rates of ch an ge between periods indicated. They are presented to aid in com paring most recent dev el op men ts with past "trends." Latest da ta plotted: M a y p r e l i m i n a r y Prepared by Feder al Reserve Bank of St. Louis 8 GROSS N A T I O N A L P RODUCT I N CU R R E N T OOL L A R S ______ COMPOUNDED ANNUAL R A T E S O F CHANGE B I L L I O N S OF T E R M I N A L ___________________________________________________________________________ I N I T I A L Q UA R T E R ____________________________________________ [_____________________________ D O L L A R S___ QU A R T E R ANNUAL R A T E S 02-6 3 03-63 04-63 01-64 C2-64 03-64 04-64 01-65 02-65 03-65 04-65 01-66 02-66 03-66 04-66 0 1-67 02-6 7 03-6 7 04-67 03-63 7.4 04-6 3 7.5 01-64 7.7 7.9 8.1 02-64 7.5 7.5 7.5 6.8 594.7 7.7 605.8 617.7 628.0 03-64 7.4 7.4 7.4 7.0 7.1 0 4-6 4 6.8 6.7 6.5 6.0 5.5 3.9 01-65 7.5 7.5 7.5 7.3 7.4 7.6 11.4 02-6 5 7.5 7.5 7.5 7.4 7.6 7.7 9.6 03-65 7.7 7.7 7.7 7.7 7.8 8.0 9.4 8.4 8.9 04-65 8.C 8.1 8. 1 8.1 8.4 8.6 9.8 9.3 10.0 11.1 0 1-6 6 8.2 8.3 8.4 8.4 8.6 8.9 9.9 9.5 10.1 10.7 02-66 8.0 8.1 6.1 8.1 8.3 8.5 9.3 8.8 9.1 9.1 8.2 6.1 03-66 7.9 8.0 8.C 8.0 8.1 8.3 8.9 8.5 8.6 8.5 7.7 6.4 6.7 04-6 6 7.9 7.9 8.0 7.9 8.1 8.2 8.7 8.3 8.4 8.3 7.6 6.7 7.0 7.3 01-67 7.5 7.5 7.5 7.5 7.5 7.6 8.0 7.5 7.5 7.2 6.5 5.6 5.4 4.7 638.9 645.1 662.7 675.4 7.9 690.0 708.4 725.9 10.3 736.7 748.8 762.1 766.3 2.2 02-67 7.3 7.3 7.3 7.2 7.3 7.3 7.6 7.2 7.1 6.9 6.2 5.4 5.2 4.7 3.4 4.7 03-6 7 7.4 7.4 7.4 7.3 7.4 7.4 7.7 7.4 7.3 7.1 6.5 5.9 5.9 5.7 5.1 6.6 8.6 04-6 7 7.5 7.5 7.4 7.4 7.4 7.5 7.8 7.4 7.4 7.2 6.8 6.3 6.3 6.2 5.9 7.2 8.5 8.4 01-68 7.6 7.6 7.6 7.6 7.6 7.6 7.9 7.7 7.6 7.5 7.1 6.7 6.8 6.8 6.7 7.9 9.0 9.2 10.0 0 2 - T T 03-6 7 04-63 01-64 75T-T4 04-64 01-65 02-65 03-65 04-65 01-66 02-66 03-6 6 04-66 01-67 02-67 03-67 04-67 INITIAL 775.1 INITIAL 02-63 03-63 03-63 04-63 C1-64 C2-64 03-64 04-64 01-65 02-65 QUA R T E R 03-65 04-65 01-66 02-66 03-66 04-66 01-67 R E S E R V E BANK OF ST. 5.4 6.2 6.0 02-64 6 . 0 ____5 . 3 . 6.0 5.4 03-64 5.8 5.6 5.7 5.2 5.1 04-6 4 5.1 4.9 4.7 4.1 3.5 1.9 01-65 ____5 . 7 5.6 5.6 5.-JL 5.3 5.4 9.1 02-65 __ 5 ^ 7 5.6 5.6 5.4 5.4 5.5 7.3 5.6 B I L L I O N S OF DOLLARS ANNUAL R A T E S 02-6T 03-67 04-67 562.1 6.6 571.1 578.6 585.8 588.5 601.5 609.7 03-65 5.9 5.8 5.8 5.7 5.8 6.0 7.4 6.5 7.4 _04-65 6.2 6.2 6.2 6.2 6.3 6.6 7.8 7.4 8.3 9.1 _6 . 3 LOUIS 554.7 ___ 6 . 0 620.7 634.4 6.3 6 . 3 ___ 6 . 3 6.4 6.7 7.7 7.3 7.9 8.1 7.1 6.0 5.9 5.9 5.9 5.9 6.1 6.8 6.3 6.5 6.2 4.8 03-66 5.8 5.7 5.7 5.6 5.7 5.7 6.3 5.8 5.9 5.5 4.3 2.9 3.4 04-66 5.6 5.6 5.6 5.5 5.5 5.5 6.0 5.6 5.5 5.2 4.2 3.3 3.7 02-66 826.7 6.5 01-64 _01-66 807.3 QU A R T E R P REPARE D BY F E O E R A L MAY 1 7 , 1968 I GROSS N A T I O N A L P R ODU CT I N C O N S T A N T 1 9 5 8 D O L L AR S COMPOUNDED A N N U A L R A T E S O F C HANGE _ T ERMI NAL QUA RT E R 791.2 645.4 2.4 649.3 654.8 3.9 661.1 01-67 5.2 5.1 5.1 5.0 4.9 4.9 5.3 4.8 4.7 4.3 3.3 2.4 2.4 1.8 02-67 5 .C 4.9 4.9 4.8 4.7 4.7 5.0 4.5 4.4 4.0 3.2 2.4 2.4 2.0 1.1 2.5 .2- 660.7 664.7 03-67 5.0 4 . 9 ___ 4 . 9 _ 4.8 4.7 4.7 4.9 4.5 4.4 4.1 3.4 2.7 2.8 2.6 2.2 3.5 4.5 04-67 5.0 4.9 4.9 4.8 4.7 4.7 4.9 4.5 4.4 4.1 3.5 3.0 3.1 3.0 2.8 3.8 4.5 4.6 01-68 5.C 5.0 4.9 4.8 4.8 4.8 5.0 4.7 4.6 4.3 3.8 3.4 3.5 3.5 3.5 4.4 5.0 5.3 6.1 02-63 03-6 3 04-63 01-64 C2-64 03-64 04-64 01-65 02-65 03-65 04-65 01-6 6 02-6 6 03-66 04-66 01-6 7 02-6 7 03-67 04-67 INITIAL 672.0 679.6 689.7 QU A R T E R P REPA RE D BY F E D E R A L MAY 1 7 » 1968 R E S E R V E BANK OF ST. LOUIS 9 D e m a n d a n d Production Ratio Scale B i l l i o n s o f D o l l a rs R a t i o Sea le Billions of D o lla r s Quarterly Totals at A n n u a l Rates S e a s o n a lly A d ju ste d 850 +9.0% 800 +34% /O x S f 826.7 800 .*T + 6 .7 % - 750 750 +9.9% s' 700 < 650 689.7 +O.U/O n-r Total Spending |1 +6.13% / 600 ' + 33%, / 850 hl.1% 700 650 600 S + 7.7% 550 550 +2.0% 5.4% Real Pro<iuct 12 500 O' -4«. 1959 1+0.3% 1960 stqtr. 1Li__ ... 1961 — 1962 1963 4thqtr. JtJu.. 1964 Li G N P in current dollars. Istqtr. 4thq1tr. 7stqtr. JU : I .1i 1966 1967 1968 _j i 1965 ________ ______ Source: U S ' Departm ent of Co m m e rce |2 G N P in 1958 dollars. Percentages are a n n u a l rates of ch ange between periods indicated.They are presented to aid in comparing most recentdevelopm ents with p ast"trends.” Latest d a ta plotted: 1st q u arte r 1968 Prepared by Federal Reserve Bank of St. Louis 450 ID CONSUMER P R I C E TERMINAL MONT H 10-66 11-66 12-66 01-6 7 02-67 03-67 10-66 4.3 11-66 2.7 1.0 12-66 2.1 1*0 1.1 01-67 1,6 .7 .5 .0 02-6 7 1,5 ,8 .7 ,5 1.6 1,1 1.1 1,1 1.6 2,1 1.8 1.4 1.5 1.6 2.1 2,7 3.2 03-67 _ 1957-59 I N I T I A L HONTH 09-66 04-67 INOEX 04-67 05-67 06-67 07-6 7 08-67 09-6 7 10-67 11-67 12-67 01-68 32-6 8 100 114.5 114.6 114.7 114.7 114.8 1.1 115.0 115.3 115.6 05-6 7 2,0 1.7 1.8 1,9 2,4 2.8 3,2 3,2 06-67 2,2 2.0 2. 1 2,3 2,8 3.2 3,5 3.7 4.2 116.0 07-67 2,5 2.3 2.5 2,7 3,2 3.6 4,0 4.2 4.8 5.5 08-6 7 2,7 2.5 2.7 2,9 3,3 3.7 4,0 4.2 4.6 4.7 09-67 2,6 2,5 2.6 2,8 3,2 3.5 3,7 3,8 3.9 3.9 3,1 2.1 10-67 2,8 2,6 2.8 2,9 3,3 3.6 3,8 3.9 4.0 3.9 3.5 3.1 116.5 116.9 4.2 117.1 117.5 4.2 11-67 2,8 2,7 2.8 3,0 3,3 3.5 3,7 3.8 3.8 3.8 3.4 3.1 3.6 3.1 12-67 2,9 2.8 2.9 3,1 3,3 3.6 3,7 3,8 3.9 3.8 3.5 3.4 3.8 3.6 01-68 2,9 2,9 3.0 3,1 3,4 3,6 3,8 3.8 3.9 3.9 3.6 3.5 3.9 3.8 4.1 4.1 02-68 3.0 2.9 3.1 3,2 3,5 3,7 3,8 3,9 3.9 3.9 3.7 3.6 3.9 3.9 4.1 4.1 4.2 03-68 3. 1 3.1 3.2 3.3 3,6 3,8 3,9 4,3 4.1 4.3 3.9 3,9 4.1 4.1 4.4 4.5 4.7 5.2 04-6 8 3.2 3.1 3.2 3.4 3,6 3,8 3,9 4.3 4.1 4.1 3.9 3.9 4.1 4.1 4.3 4.4 4.5 4.6 4.1 09-66 10-66 11-66 12-66 0 1 -6 7 02-67 03-6/ 04-67 05-67 06-67 07-67 08-67 09-67 10-67 11-67 12-67 01-6 8 02-68 03-68 INITIAL “• / 03-68 117.8 118.2 4.2 118,6 119.0 119.5 119,9 MONTH NOT SEASONAL LY a d j u s t e o PREPARED BY F E D E R A L RESI: * VE LAN* MAY ¿ 8 » 1968 OF ST. LOUIS WHOL ES AL E P R I C E S « A L L C O M M O D I T I E S • COMPOUNDED ANNUAL R A T E S OF C H A N C E TERMI NAL INITIAL Bganr _____________ 0 9 - 6 6 10-66 11-66 12-66 01-6 7 02-6 7 03-67 04-67 05-67 MONTH 06-67 1957-59 07-67 08-67 09-67 10-67 11-67 12-67 01-6 8 02-68 10-66 6 , 5 - _________________________________________________________________________________________________________________________________________________________ _ 11-66 11.9- 3.3- 12-66 3 .3- 1.7- 01-67. 1.7- 02-67 1,8— ,6- 03-6 7 2 . 1- 1. 1- 00-6 7 05-6 7 1,4- 06-6 7 07-67 1.7 105.9 106.2 2. 2- ,4 1^ .8 - 2 .8- 3,4- 1.7- 1.»- 1.7- 3.3- 3.9- . 6- . 2- .2- 1.1- .8- .1 .7 .9 1.0 >1- .3 .3 .2- ,2 .2 .3 .3 .0 .2 4,4- 105.3 5.? 2.3 105.8 5.8 5.8 1*6.3 1.1 2.3 ».6 ».0 2 *3 .2 •9 2,3 1.1 1.1- 4.4- .0 1,0 2,1 1,1 ,u - 1.7- 1.1 .1- .7 1,5 ,6 - 1.5- .0 .7 1.5 . 2- .» 2,1 106.5 106.1 106.2 11-67 .5- .0 12-67 ,0 .5 1.1 1,1 ,9 1,2 1,7 2,4 2,0 1,5 1,3 ,8 1,3 1,6 1.7 1.6 1.9 2.» 3.1 2.8 .2.» 2.4 04-68 1.3 1.6 1,7 1,6 1,9 2,» 3.3 2,7 2,» 2,» 3,» 3.8 ».8 5.8 5.» 5.7 2.3 04-6 8 1.3 1.6 1,7 1,6 1,9 2,3 2,9 2,6 2,3 2.3 3.1 3.» ».2 4.8 ».3 ».2 1.7 1U-CT 11-66 1 •8___ liFET 0 105.7 ,6- “W - 6 6 106.2 3.» 10-67 0 1 -6 8 _ .0 09-67 02 -6 8 100 105.9 • 3— 08-6 7 / 03-68 P T - T 7 H D Z - 6 7 "03 - 6 / 1,6 .9 1,1- -M Ü . 1.1 ,7 2,0 106.2 2.3 »,0 7,0 2,5 2,9 »,2 5.8 3.6 4.1 5 , 5 ____ 7 . 0 ____ 6 . 9 106.8 ».6 107.2 9.3 108.0 108.2 1.1 108.3P 0 4 -6 7 05 -6 7 0 6 -6 7 0 7 -6 7 0 8 -6 7 0 9 -6 7 1 0 - 6 ? 1 1 - 6 7 l i - 6 7 0 1 - 6 8 3 2 -feci 0 5 - 6 8 “ --------------------------------------- r w i i r a r n ö H T H ---------------------------------------“ P- NO T SETTS Ü N A L L Y A D J U S T E D PRELIMINARY PftEPAftEt) 6 V P g M f t A L MAY 28* 1 96 8 t f g T O 'bâm ÒF j»T, LOUIS .. 11 Prices Ratio Scale Ratio S c a le 1957-59=100 1957-59=100 S o u r c e : U .S. D e p a r t m e n t o f L a b o r Percentages are annual rates of c h a n g e between periods indicated. They are presented to aid in com paring mostrecentdevelopments with p a st"tre n d s. L a t e s td a t a plotted: A p r il prelim inary Prepared by Federal Reserve Bank of St. Louis WHOLESALE PRICES TERMINAL HONtH INDUSTRIALS COMMODITIES I N I T IA L HONTH 09-66 10-66 10-66 11-66 12-66 01-6 7 02-67 03-67 04-67 05-6 7 06-67 1957-59 07-6 7 08-6 7 09-6 7 10-67 11-67 12-67 0 1 - 6 « 32-68 I00 f 105.3 105.5 11—6 6 1.7 2.3 1.1 1.1 .0 01-67 1.7 1.9 1.7 3.5 4)2- 67 1.8 2.Ü 1.9 2.9 2.3 1.1 105.5 C3-67 ___ 1 . 5 - 1.6 1.4 1.9 04-67 1.3 1.3 1.1 1.4 05-67 1.1 1.1 1.0 1.1 36-6 7 1.0 1.0 .8 1.0 0 7-6 7 .9 .9 .7 08-67 1.1 1.1 1.0 09-6 7 / 03-68 1.1 12-66 105.8 106.0 106.0 ,0 106,0 •i L .0 .6 .0 .0 .5 .0 .0 t? .0 .8 .4 .0 .0 t? .0 .3 1.1 .8 .6 .7 .9 1.1 1.7 3.* 1.0 .8 .9 M 1.1» 1.9 2.9 2.3 M 1.8 2.3 3.1 2.9 M 2 .1 2.5 3.1 3.1 1.2 1.2 1.1 1Û-67 1.1» 1.4 1.3 1.5 1.3 1.1 1.3 11-67 1.6 1.6 1.5 1.7 1.5 1.1» 1.6 12-67 1.7 1.7 1.7 1.8 1.7 1.6 1.8 01-68 1.9 1.9 1.9 2.0 1.9 1.9 2 .0 02-6 8 2.1 2.1 2.1 2.3 2.2 2.2 C3-68 2.1 2 .2 2.2 2.3 2.3 2 .3 0*1- 68 2.2 2.2 2.2 2 .3 2 .3 2 .3 09-66 l u — 66 11-66 1.3 106.0 106.0 106.0 106.3 106.5 106.8 StH 137.1 3.4 2.3 2.7 3.2 3.1 3.4 3.4 2.3 2.6 2.9 3.1» 3 •_!»__ 3.8 4.0_ 2.4 2 .6 2.9 3.5 3.8 3.8 4.1 4.3 4.6 2 .5 2.7 3.0 3.3 3.7 3.7 *»tÇ %•!.. 2.1» 2 .6 2*9 3.2 3 .5 3 .6 01-6 7 '^ 4 -6 f 12-66 0 V 6 T Ö 2 - 6 T m o S-67-<&6-67 INITIAL • • 3 .8 0 7 -6 1 C0-6?" 0 9 - 6 f - 10-67 107.4 137.8 4.6 3*9 5.1 5.7 4.6 4.5 3.4 108.3 4 .0 3 .8 2 . fc *1-67" * 2 - 6 1 0 1 - 6 8 0 2 - 6 8 108.6 2 .2 63-68 MONT H HOT S E A S O N A L L Y A O J U S f ë ü PREPARF C B Y F E D E R A L R E S E R V E EANK MAY 2 8 « 1968 WH OL E S A L E P R I C E S - F A R H PRODUCT S« * ANO P R O C E S S E D FOODS COMPOJ NDED ANNUAL 1R AT E S O F CHANGE TERMINAL INITIAL AND F E E O S 10-66 10-66 25.5- 11-66 21.5- 17.2- 12-66 16. 1- 11.0- 11-66 12-66 01-6 7 02-67 03-6 7 04-67 05-6 7 MONT H 06-67 LOUIS 1957-55> / 07-67 08-67 09-67 10-67 11-67 12-67 01-68 02-68 100 03-68 108.8 107.1 4.4- 106.7 u 1-67 11.6- 6.5- .6- 02-6 7 12.0- 8.3- 5. 1- 5.5- 13.6- 03-67 12.0- 9.0- 6 . 8— 7.6- 12.7- 11.8- Ü4-67 12.1- 9.7- 8.1- 9.0- 12.8- 12.*- 12.9- 05-6 7 8 , 6— 5.9- 3.9- 3.8- 5.5- 2.6- 2.3 20.2 .4 - 3.2 8.7 21.4 22.6 3.7 3.4 107.0 06-6 7 5,6— 2.7- .5- C7-67 4.5- 1.8- .3 1.0 .6 38-6 7 6.1- 4 .0- 2 .4- 2.1- 2.9- CV-67 5.6- 3.5- 2.0- 1.7- lü-67 6 .1- 4.3- 3.1- 2.9- 11-67 6 .3- 4.6- 3.5- 12-67 4 .8 - 3.2- :> 1 - 6 8 4 .2 - 2.6- .2 135.7 104.6 103.4 105.0 106.8 8.0 16.0 13.9 .9 - 1.4 5.3 .8 8.7- 21.1- 2.4- .6- 1.3 4.» .9 5.5 - 10.7- 1.1 3.6- 2.3- .8- 1.4 2.0- 7.4- 11.4- 6.1- 12.9- 3 .4 - 4 .0 - 2 .9 - 1 .7 - .0 3 .0 - 7 .5 - 1 0 .5 - 6 .7 - 10 .4 - c . 0— 1 .8 - 2 .2- 1 .0 - .3 2 .0 .3 - 3 .7 - 5 .5 - 1 .1 - 1 .9 - 4.1 17 .5 1 .4 - 1.2 - 1 .6 - .4 - .8 2 .5 .4 2 .4 - 3 .7 - .2 .0 4 .7 11.6 5 .9 4 .3 2.3 .3 .8 - 3.1 3.5 8 .0 13 .8 12 .0 1 8 .5 5.8 107.3 U5.2 105.3 ?04. 1 7 .8 - 103.4 104.8 105.3 02-68 3 .0 - 1 .4 - .2 - .1 .2 - 1.0 2 .3 OS-68 2 .8 - 1 .2 - .1 - «2 .1 - 1. 1 2 .2 3.7 2.2 .1 .6 — 2 .8 3.1 6 .6 10 .5 8 .3 9 .5 04 -68 2 .7 - 1 .2 - .2 - .1 . 1- .9 1.9 3 .3 1 .9 .3 .6 - 2 .3 2*5 5 .3 8.1 5 .8 ‘i . 8 jy -6 6 ST. « flOriTH 09-66 OF i¡ . . - 0 6 I 1-66 12—6 6 IU 1—6 » 0 2 - 6 / 13 6.8 1.1 136.9 1 .1 - 1 0 6 .8 P i0 3 - 6 7 0 4 - 6 7 0 5 - 6 7 0 6 - 6 7 0 7 - 6 7 0 8 - 6 7 0 9 - 6 7 1 0 - 6 7 1 1 - 6 7 12—67 01—68 3 2 —SC 0 3 —68 I N I T I A L HONTH P- PRELIMINARY HAY 28* 1968 ÏÔUÈS 13 General Price Index * Ratio Scale Ratio Scale 1958=100 1958=100 * A t u t t d in Na t i on al I ncome Account s Sour ce: U. S. De p or t me n t of Co mme r c e Percent ages are annual rates of change between per i ods i ndi cated. T hey ar e presented to ai d in c ompar i ng most recentdevel opments with p a s t ” t rends. ” Latest d a t a pl ot ted: 1st quar t er 1968 Prepared b y FederalReserve Bank of St. Louis IMPLICIT PRICE T E R MI N A L QUART ER D E F L A T O R FOR GROSS N A T I O N A L P R 0 0 U C T INITIAL 02-63 03-63 04-63 01-64 02-64 03-64 04-64 03-63 .8 04-63 1.5 2.3 01-64 1.5 1.9 1.5 02-64 1.U 1.6 1.3 1.1 03-6* 1.6 1.8 1.6 1.7 04-64 1.6 1.8 1.7 1.7 2.0 1.9 01-65 1.7 1.9 1.8 1.9 2.1 2.0 2.2 01-65 02-65 1958 Q UA R T E R 03-65 04-65 01-66 02-46 03-6 6 04-46 01-67 02-6 7 / 100 03-6 7 0 4-67 107.2 107.8 108.2 108.5 109. ! 2.2 10 S ' - 3 110.2 02-65 1.8 1.9 1.9 1.9 2.1 2.1 2.2 2.2 03-65 1.7 1.9 1.8 1.8 2.0 1.9 2.0 1.8 1.5 OH-65 1.7 1.9 1.8 1.8 2.0 1.9 1.9 1.8 1.6 110.8 111.2 1.8 111.7 01-66 1.8 2.0 1.9 2.0 2.1 2.1 2.1 2.1 2.1 2.4 2.9 02-6 6 2.0 2.1 2.1 2*2 2.3 2.3 2.4 2.4 2.4 2.8 3.3 11 2 . 5 3.6 113.S 03-66 2.1 2.2 2.2 2.3 2.4 2.4 2.5 2.5 2.6 2.9 3.2 3*4 3.2 04-66 2.2 2.3 2.3 2.3 2.5 2.5 2.6 2.4 2.7 2.9 3.2 3.3 3.2 01-67 2.2 2.3 2.3 2.4 2*5 2.5 2.6 2.6 2.7 2.9 3.1 3.1 3.0 2.8 2.5 02-67 2.2 2.3 2.3 2.3 2.4 2.5 2.5 2.5 2.4 2.8 2.9 2.9 2.7 2.6 2.3 114*1* 3.2 115.3 116.0 2.1 116.Ó 03-67 2.3 2.4 2.4 2.4 2.5 2.6 2.6 2.7 2.7 2.9 3.0 3.1 3.0 2.9 2.8 3.0 3.8 OH-67 2.4 2.5 2.5 2.5 2.6 2.T 2.7 2.8 2.8 1.0 3.1 3.2 3*1 3.1 3.0 3.2 3.8 3.8 01-68 2.4 2.5 2.5 2.6 2.7 2.7 2.8 2.9 2.9 3.1 3.2 3.2 3.2 3.2 3.2 3.4 3.8 3.8 3.8 02-63 03-63 04-63 01-64 02-6 4 03-6 4 04-64 01-65 0 % - 6 5 0 1 -4 4 0 2 - 4 4 03-4 4 04-44 01-67 02-67 03-6 7 04-67 02*65 0 9 -4 5 117. r 118.* 119.V I N I T IA L QUARTER LOUIS MAY 17* I f 48
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