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TRAL MISSISSIPPI VALLEY
MOMIC INDICATORS

'OLUM BIA
ST. L O U I S ^
A N SVILLE
1UIS VIL L E

O S P R IN G F IE LD

O

fayetteville -springdale

F O R T SMITH

M E M P H IS
LITTLE R O C K

PIN E BLUF F

TEXARKANA

4TH QUARTER 1977




Prepared by Federal Reserve Bank of St. Louis
Released: March 20, 1978

DATA DESCRIPTION
Selected economic data for the Central Mississippi Valley (CMV)
are generally provided for five states and eight metropolitan areas which
are entirely or partially within the Eighth Federal Reserve District. In
addition, Federal Reserve member bank data are provided for three smaller
SMSAs (Standard Metropolitan Statistical Areas) and for all seven states
and nonmetropolitan areas within the Eighth District portion of these
states. Also, the metropolitan summary of population includes 13 SMSAs in
the CMV. Metropolitan areas refer to the 1973 SMSA definitions, except
where noted, and states in some cases refer only to the Eighth District
portion of the state. Annual iaLetf~*are compounded annual rates of cnatjge^
The latest data for some series are preliminary and will be revised as
final figures are received.
Income and Trade Indicators
Personal income and department store sales data are from the U.S.
Department of Commerce. In April 1977, numerous revisions were
incorporated into the department store series, including boundary
redefinitions for SMSAs. New Passenger Car Registrations are from R. L.
Polk and Company. U.S. passenger car sales are from the U.S. Department of
Commerce. All agricultural data are from the U.S. Department of
Agriculture.
Employment Indicators
Employment data are from the respective state Employment Security
Offices and the United States Department of Labor. Data for Memphis
include only Shelby and Tipton counties in Tennessee and Crittenden County
in Arkansas. Total employment, unemployment, and labor force are based on
household (place-of-residence) data. Payroll employment data, which
include manufacturing, nonmanufacturing, and hours and earnings in
manufacturing, are based on establishment (place-of-work) data.
Production and Price Indicators
Electric power consumption datdjfare based on reports to this Bank
from various utility and self-generating firms in the -Eighth Federal
Reoo»vc District*. The series Value of Construction Contracts Let are from
Dodge Construction Potentials, McGraw-Hill Information Systems Company.
Housing permits are from the U.S. Department of Commerce.
Financial indicators
Total loan and deposit data for states, metropolitan areas, and
nonmetropolitan areas are only from member banks in the Eighth District.
Such data are averages of the weekly member bank reports for the month and
are not strictly comparable over time due to withdrawals and additions of
member banks (see average number of member banks, page 35).. Savings and
loan data are obtained from-the various Federal Home Loan Banks. These
data for the Fort Smith metropolitan area include only those counties in
the State of Arkansas, and for St. Louis include only St. Louis City and
St. Louis County in Missouri, and Clinton, Madison, Monroe, and St. Clair
counties in Illinois.




2

SUMMARY OF CENTRAL MISSISSIPPI VALLEY ECONOMIC ACTIVITY
^/
Economic activity in
1977— as reflected by income,
general, economic expansion in
metropolitan areas showed less
states or the U.S.

the Central Mississippi Valley (CMV) advanced rapidly in
sales, employment, production, and financial indicators• In
the CMV was similar to that for the U.S., although some CMV
growth in production and employment than either the CMV

Personal income in the five CMV states advanced almost 12 percent from the third
quarter of 1976 to the third quarter of 1977, slightly faster than the 11 percent increase
in the U.S. Retail sales, as measured by department store and automobile sales, also made
sizable advances in 1977. Automobile sales in the CMV states, on the basis of state
registrations, advanced about 20 percent from September-November 1976 to the same months in
1977. Automobile sales in the nation rose 12 percent during this period.
Employment data indicate that sizable gains in production occurred in the CMV area
during 1977. Payroll employment in the CMV states grew 4.4 percent, somewhat above the 3.9
percent increase in the U.S. The gain, however, was unevenly distributed as all the states
but Missouri showed increases of 5 percent or more. Among the eight CMV metropolitan areas,
only Louisville and Little Rock registered gains of this magnitude. The Evansville and St.
Louis SMSAs registered the smallest gains, 2 and 0.9 percent, respectively.
Consistent with the strong gains in employment, the unemployment rate for the CMV
states declined from 5.9 percent in December 1976 to 5.2 percent in December 1977. For the
year 1977, the unemployment rate in the CMV states averaged about 1.5 percentage points
below the rate for the U.S., compared with an average differential of about 1 percentage
point from 1970 to 1976.
Among the leading CMV manufacturing industries, employment increased 13 percent in
transportation equipment, 10.6 percent in electrical equipment, 6.5 percent in lumber and
furniture, 5.9 percent in nonelectrical machinery, and 4.2 percent in food and kindred
products. However, employment in the chemical industry, one of the largest industries in
the CMV, increased only 3.4 percent in 1977, with rapid gains in the first half of the year
being partially offset by some decline in the fourth quarter. Also, employment in another
major sector, the textile, apparel, and leather industries, increased only 1.5 percent.
Employment in construction activities in the CMV increased 10 percent in 1977.
Furthermore, the value of total building in the CMV states rose 38 percent from a year
earlier, slightly above the growth in the U.S. and approximately double the increase in the
CMV cities. Much of the increase in total building in CMV states and cities was in
residential construction. The value of residential construction increased over 50 percent
in the CMV states and 35 percent in the CMV cities. The value of nonresidential
construction also advanced, increasing 23 percent in the CMV states, more than twice the
percent increase for the U.S.
Savings inflows into savings and loan associations in the CMV states rose a rapid
17 percent during 1977, a slightly larger percent than in the U.S. Rapid increases in
savings inflows occurred in most of the CMV cities and states. Despite rising yields on
competing market instruments, growth in savings deposits remained strong throughout the
year, with growth in the second half somewhat more rapid than in the first half. Reflecting
the strong growth in demand for residential housing, mortgage loans outstanding at savings
and loan associations grew 19 percent in 1977, also slightly above the percent increase in
the U.S.
*
1/

Fourth quarter 1976 to fourth quarter 1977, except as noted.




3

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX:

1971-100
1971-100

1971-100




220

140

— | 100
60

ARKANSAS

220
180
140

100
60

KENTUCKY

M IS S IS S IP P I

220
180
140

100
60

M IS S O U R I

4

INCOME AND TRADE INDICATO RS

PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX:
2ND
QUARTER
1977

U N IT E D S T A T E S
CMV ST A T E SUMMARY
A R K A N SA S
KENTUCKY
M IS S IS S IP P I
M IS S O U R I
TENNESSEE

PERCENTAGE CHANGE

1971-100
3RD
QUARTER
1977

2ND QTR 1977
TO
3RD QTR 1977
(ANNUAL RATE)

3RD QTR 1976
TO
3RD QTR 1977

174.7

178.4

8.9

10.8

181.7

185.3

8.2

11.8

199.1
191.1
186.9
165.7
186.3

201.6
193.5
190.6
169.9
190.5

5.1
5.1
8.3
10.6
9.3

13.1
11.6
13.4
11.2
11.3

STATE SUMMARY-PERSONAL INCOME
COMPOUNDED ANNUAL RATES OF CHANGE
INITIAL QUARTER

TERMINAL
QUARTER
1-73

2-73

3 -7 3

4-7 3

1-74

2-74

3 -7 4

4-74

1-75

2-75

3-75

1971*100
4-75

1-76

2-76

3-7 6

4-7 6

1-77

2-77
123.9

2-73

6 .4

3-73

6 .5

4-73

9 .4

10.9

1 5 .4

1-74

9 .1

10.0

11.8

8.2

2-74

9 .3

10.0

11.2

9 .1

10.0

125.9

6 .6

130*5
133.1
136*3

9 .6

10.2

11.1

9 .7

10.5

11.0

8 .3

8 .6

9 .0

7 .4

7 .2

CO
•
lA

139.9

3-7 4
4-7 4

0 .9

1-75

8 .0

8 .2

8 .5

7 .2

6 .9

5 .9

3 .5

140.2
6.1

142.3

2-75

8

8 .7

9 .0

o
•
CO

7 .9

7 .4

6.2

9 .0

12.0

3-75

9 .0

9 .3

9 .6

8.8

8 .9

8 .7

8.1

10.6

12.9

13.8

4-75

9 .0

9 .3

9 .6

8 .9

9 .0

8 .9

8 .4

10.4

11.9

11.8

1-76

9 .5

9 .8

10.1

9 .5

9 .7

9 .7

9.5

11.3

12.6

12.8

12.3

14.7

2-76

9 .6

9 .8

10.1

9 .6

9.8

9 .7

9 .5

11.1

12.1

12.1

11.5

12.4

10.1

146.4
151.2
9 .9

154.8

160.2
164.1

3-76

9 .2

9 .4

9 .6

9 .1

9 .2

9 .1

8 .9

10.1

10.7

10.5

9 .7

9 .6

7 .1

4 .2

4-76

9 .1

9 .3

9 .6

9.1

9 .2

9.1

8*9

9 .9

10.5

10.2

9 .5

9 .4

7 .7

6 .6

9 .0

1-77

9 .6

9.8

10.1

9 .7

9.8

9 .8

9 .6

10.7

11.2

11*1

10.7

10.9

9 .9

9 .9

12.8

2-77

9 .8

10.0

10.3

9.9

10.1

10.1

10.0

10.9

11.5

11.4

11.1

11.3

10.6

10.7

13 .0

15.0

13.3

3-77

9 .7

9 .9

10.1

9.8

9 .9

9 .9

9*8

10.7

11.1

11.0

10.7

10.8

10.2

10.2

11.8

12.7

10.7

8 .2

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77




165.8
1 6 9 .4
16.8

176.1
181.7
185.3

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEX:

1971-100

1971-100

1971-100

350

350

-

_

110
30

■ I ■.




M 1 n l.il.l_ L- ■ ■ 1 >■ 1 ■ ■ 1. ■

I.,|Jj 1 1 1L-Li .I , 111111 I I 1 11

S P R IN G F IE L D :

Ll L l

190

270

n

—

270 —

190
110
30

MO
350
270
190
110
30

6

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEXt

PERCENTAGE CHANGE
3 MONTHS ENDING OCTOBER. 1977

1971-100

AU6UST
1977

SEPTEMBER
1977

OCTOBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

167.9

168.1

176.5

23.0

U N IT ED S T A T E S
CMV M ETR O PO LITA N SUMMARY
FORT S M IT H : AR-O K
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
L O U IS V IL L E : K Y -IN
M E M P H IS : T N -A R -M S
ST . L O U IS : M O - 1L
S P R I N G F I E L D : MO

FROM SAME
MONTHS A
YEAR AGO

15.0

163.4

173.1

172.3

28.2

*

254.5

274.7

279.4

24.4

*

260.6

271.7

285.2

29.8

*

143.3

153.8

162.2

32.5

*

157.8

159.8

164.4

-0 .2

*

156.1

171.0

162.3

28.4

*

168.6

171.5

179.1

31.0

*

XDATA NOT COMPARABLE, SEE INCOME AND TRADE INDICATORS, PAGE 2

US DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANGE
INITIAL QUARTER

TERMINAL
QUARTER
1-73

2-73

3 -7 3

4 -7 3

1-74

2-7 4

3-7 4

4-74

1-75

2-75

3-75

1971*100
4-75

1-76

2-76

3-7 6

4-7 6

1-77

2-77
120.5

2-73

a .4

3-73

5 .1

2 .0

4-7 3

6 .1

5 .0

8 .2
9 .1

10.1

121.1
123.5
126.5

i—74

7 .1

6 .7

2-74

6 .7

6 .3

7 .8

7 .6

5.2

3-74

5 .a

5 .3

6 .1

5 .4

3.2

4 -7 4

3 .8

3 .1

3 .3

2 .1

-

128.1
128.5

1.3

0 .4

-

3 .1

-

-

0 .6

-

126.1

7 .3

127.5

1-75

3 .9

3 .3

3 .5

2 .6

0 .8

1.6

4 .5

2-75

5 .7

5 .4

5 .9

5 .5

4 .7

4 .5

5 .6

12.8

21.6

3-75

6 .0

5 .7

6 .2

5 .9

5.3

5 .3

6.3

11.3

14.8

8 .3

133.9
136.6
138.5

4-7 5

6 .0

5 .7

6 .1

5 .9

5 .3

5 .3

6.2

9 .8

11.7

7 .0

5 .7

1-76

6 .3

6 .2

6 .6

6 .4

5.9

6 .1

6 .9

10.0

11.4

8 .1

8.1

10.5

2-76

6 .0

5 .8

6 .2

6 .0

5 .6

5 .6

6.3

8 .7

9 .6

6 .7

6 .2

6 .5

3-76

6 .4

6 .3

6 .6

6.5

6 .1

6 .2

6 .9

9.1

9 .9

7 .6

7 .5

8.1

6 .9

11.4

8.1

10.2

11.1

9 .4

9 .6

10.6

10.7

14.9

142.0
142.9

2 .6

146.8
153.2

18.6

4-7 6

7 .2

7 .1

7 .5

7 .4

7 .2

7 .4

1-77

7 .1

7 .0

7 .4

7 .3

7.1

7 .3

7 .9

9.8

10.4

8 .9

9 .0

9.7

9 .5

11.9

12.2

6.1

2-77

7 .2

7 .1

7 .5

7 .4

7 .2

7 .4

8 .0

9 .6

10.2

8 .9

8 .9

9.5

9 .3

11.1

11 .0

7 .3

8.5

3-77

8 .2

8 .2

8 .6

8 .6

8 .5

8 .7

9 .4

11.0

11.7

10.7

1 1.0

11.7

12.0

13.9

14.6

13.3

17.0

26.2

1-73

2-73

3-7 3

4-7 3

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-7 6

1-77

2-77




155.5
158.7
168*2

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS
SEASONALLY ADJUSTED
INDEX:

1974-100

1974-100




1974-100
225
175
125
75
25

225
175
125
75
25

M IS S IS S IP P I

8

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS
SEASONALLY ADJUSTED
1NDEXt

PERCENTAGE CHANGE
3 MONTHS ENDING NOVEMBER.

1974-100

FROM SAME
MONTHS A
V$AR A6Q-

__LSZZ__

OCTOBER
1977

NOVEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

118.6

124.3

118.6

-2 2 .4

11.5

135.7
115.4

128.6
122.1

150.0
112.8

- 3 2 .6
- 2 1 .0

13.8
10.2

115.6

122.6

114.4

-6.5

19.5

N. A.
N. A.
128.9
151.5
78.6
164.7
89.4
95.5
133.2
153.6
USED WITH THE PERMISSION OF R. L. POLK AND COMPANY

N. A.
ui-nr
84.5
123.5
113.8

N. A.
4.6
-57.4
-35.3
36.1

N. A.
18.8
0.1
-5.3
68.8

SEPTEMBER

U N IT ED S T A T E S
IMPORTED
DOMESTICALLY PRODUCED

CMV STATE SUMMARY
ARKANSAS
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE

NEW PASSENGER CAR RETAIL SALES
STATE SUMMARY EXCLUDES ARKANSAS




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

INCOME AND TRADE INDICATORS




FARM CASH RECEIPTS
SEASONALLY ADJUSTED
INDEX:

1971-100

360
280
200
120
40

10

INCOME AND TRADE INDICATORS

FARM CASH RECEIPTS
SEASONALLY ADJUSTED
__________ INDEXt
OCTOBER
1977

U N IT ED S T A T E S
CMV STA TE SUMMARY
A R K A N SA S
KENTUCKY
M IS S IS S IP P I
M IS S O U R I
T E N N E SSE E

1971*100________

NOVEMBER
1977

DECEMBER
1977

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977
FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

FROM SAME
MONTHS A
YEAR AGO

178.2

186.9

186.6

34.1

2.7

194.9

195.1

170.1

37.9

6.3

215.7
173.8
189.1
186.0
184.5

197.9
246.5
183.2
180.8
203.7

159.9
167.9
170.7
180.6
153.1

- 2 8 .7
82.1
59.3
110.0
-1 1 . 3

1.2
9.9
4.0
16.8
-1 .0

STATE SUMMARY—FARM CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

INITIAL QUARTER
1-73

2-73

3-73

6-73

1-76

2-76

3-74

6-74

1-75

2-75

3-75

1971*100
4-75

1-76

2-76

3-76

6-76

1-77

2-77

3-77

151.1

2-73

-8.8

3-73

9.4

31.2

4-73

8.4

18.1

6.3

i—74

11.0

18.5

12.6

2-74

-3.2

161.7
164.2
19.3

171.6

0.7

-7.8 -16.1 -38.1

152.2

-6.9 -10.9 -23.0

-6.1

6.1

26.1

3-74

-1.7

-0.3

4-74

5.9

8.6

1-75

—5.4

-4.9

4.5

—0.5

150.6
170.9

65.8

-9.9 -12.8 -19.4 -12.0 -15.7 -57.1

138.3

2-75

2.4

3.9

0.5

-0.6

-3.9

7.2

11.3

-8.8

93.9

3-75

7.9

9.9

7.5

7.6

5.8

17.8

24.0

12.6

82.4

71.6

186.8

4-75

0.7

1.6

-1.2

-2.1

-4.8

2.3

3.6

-7.9

18.8

-7.0 -69.6

157.6

163*2

44.6

1-76

3.7

5.0

2.6

2.2

0.3

7.5

9.5

0.8

24.8

2-76

6.8

8.2

6.4

6.6

5.0

12.2

14.8

7.9

29.8

3-76

1.9

2.7

0.7

0.2

-1.6

3.7

4.7

-2.0

12.5

0.9 -11.7

6.5

-8.6 -65.0

4-76

3.5

4.4

2.6

2.3

0.8

5.9

7.1

1.4

14.6

5.0

-4.8

11.6

2.3 -16.0

28.3

1-77

5.1

6.1

4.5

6.3

3.2

8.1

9.4

4.4

16.7

8.6

0.6

15.5

9.2

-2.2

30.4

2-77

3.3

4.1

2.5

2.2

1.0

5.2

6.1

1.5

11.7

4.2

-2.9

8.3

2.2

-7.5

10.1

3-77

2.4

3.1

1.6

1.3

0.1

3.9

4.6

0.3

9.2

2.4

-4.0

5.3

-0.1

-8.1

4.4

4-77

4.1

4.8

3.4

3.3

2.3

6.0

6.8

3.0

11.5

5.5

-0.0

8.9

-1.7

10.4

6.3

-1.2

10.9

37.9

1-73

2-73

3-73

6-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

2-76

3-76

4-76

1-77

2-77

3-77




7.8 -14.6
17.4

3.4

48.2

172.6
51.9

1-76

191.6
165.0
175.6
32.5

188.4
177.3

1.9 -21.6
-2.5 -16.4 -10.8

172,3
186.7

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST

LOUIS

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTEO
INDEX:

1971-100

1971-100




1971

100
130
120
110
100
90

ARKANSAS

130
120
110
100
90

KENTUCKY

M IS S O U R I

130
120
110
100
90
130
120
110
100
90

12

EMPLOYMENT INDICATORS

TOTAL

EMPLOYMENT

SEASONALLY ADJUSTED
INDEX:

U N IT ED S T A T E S
CMV STATE SUMMARY
CMV M ETR O PO LITA N SUMMAR
A R K A N SA S
FORT SMITH: AR-OK
L IT T LE ROCK-NORTH
LIT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LO U ISV IL LE : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: MO-IL
SPRING FIELD: MO
T E N N E SSE E
MEMPHIS: TN-AR

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977

1971-1119

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

FROM SAME
MONTHS A
YEAR AGO

OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

115.5

116.6

117.1

5.7

4.4

114.6

114.8

115.5

5.0

3.7

109.6

109.7

110.4

120.3
122.6

121.5
122.1

122.5
124.3

(£ >
5J
-1 .9

5.1
4.6

126.1
109.1

127.4
109.8

128.0
110.5

4.9
3.7

5.6
3.8

119.5
116.5
111.1

119.8
117.0
111.5

120.9
117.4
112.3

8.4
0.7
7.5

5.2
1.7
6.0

125.2

125.3

126.3

4.9

5.1

106.8
105.7
128.0

106.9
105.5
127.8

106.9
105.7
127.0

S f^ O

T?6

112.5
103.8

112.5
104.2

113.2
104.8

4.8
6.0

3.9
2.7

STATE SUMMARY-TOTAL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

INITIAL QUARTER
1-73

2-73

3-7 3

4-7 3

1-74

2-74

3-74

4-74

1-75

2-75

3-75

2-73

3 .1

3-73

3 .6

4 .2

W

3

3*8

4 .2

4 .1

1-74

2*9

2 .9

2 .2

0.4

2-74

3.1

3.1

2 -7

2.0

3.7

3-74

2 .7

2 .6

2 .2

1.6

2.2

4 -7 4

1 .5

1.2

0 .7

-

0 .2

-

0 .4

-

2 .4

-

5.3

1-75

0 .0

-

0 .4

-

1.2

-

2.2

-

2.8

-

4 .9

-

7 .7

-

0 .9

0 .3

-

0 .7

-

1 .4

-

2.3

-

2.8

-

4 .4

-

6.0

-

6.3

3-75

0 .2

-

0 .2

-

0 .7

-

1.4

-

1.7

-

2.7

-

3.5

-

2 .9

0 .8

4 .3

4-7 5

0 .8

0 .5

0 .1

-

0 .4

-

0 .5

-

1.2

-

1.5

-

0 .6

2.8

5.6

7 .0

1-76

1.3

1.2

0 .9

2-75

-

1971*100
4-75

1-76

2-

'

3-7 6

4 -7 6

1-77

2-77

3 -7 7
106.6
107.7
108 .5
108.9

0.5

0.5

109.9
0 .7

110.1
108.6
105.8
-

2.6

105.1
106.2
108.0

0.1

0 .0

1.1

4.1

6 .4

7 .5

8.0

110.1

2-76

1.4

1.3

1.0

0 .7

0 .7

0 .4

0.3

1.3

3.7

5.3

5 .7

5.1

2.2

3-76

1.2

1.1

0 .9

0 .6

0.6

0 .2

0.2

1.0

2 .9

4 .1

4 .0

3.1

0 .7

4-76

1.3

1.1

0 .9

0.6

0.7

0 .4

0 .3

1.1

2.7

3 .6

3.5

2.7

1.0

1-77

1.7

1.6

1.4

1.2

1.3

1.1

1.1

1.9

3 .4

4 .3

4 .3

3.8

2 .8

3 .0

4 .9

8 .6

2-77

1.7

1.6

1.5

1.3

1.3

1.1

1.2

1.9

3.3

4 .0

4 .0

3.5

2.6

2 .7

3 .9

5.1

3-77

1.6

1.5

1.3

1.2

1.2

1.0

1.0

1.7

2.9

3 .5

3 .4

2.9

2.1

2.1

2.8

3.3

0 .7

4-77

1.0

1.7

1.6

1.4

1.5

1 .3

1.3

1.9

3.1

3 .7

3.6

3.2

2.5

2 .6

3 .2

3 .7

2 .1

2 .3

5.0

1-73

2-73

3-7 3

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77




110.7
-

0 .7
0 .4

110,5
1.5

110.9
113.2
1.8

113.7
-

0.4

U 3» *
115.0

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

13

EMPLOYMENT INDICATO RS

UNEMPLOYMENT

RATE

SEASONALLY ADJUSTED
PERCENT

PERCENT
1—

i

f

i

--------------------------

i
ii/

1

STATES
r

_

___

i

- u.s.

_____________ ^
—

i i l 1 1 L i 1 1 11

1971




1 J.J

l 1l . i
1972

1 1-I X.

h i

.I. j i . i i i

1973

i l l

n i l

d l l

1974

ARKANSAS

i l l 1 J 1 1 » 1 1 » -LJ-J J - l .,1 11 1 1 1

1975

1976

M i l l

I I I 111.

1977

12
9

6
3
0

KENTUCKY

12
9
6
3
0
12

9

6
3
0

M IS S O U R I

12

9

6
3
0

12
9
6
3
0

14

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT

U N IT E D S T A T E S
CMV STA TE SUMMARY
CMV M ETRO PO LITAN SUMMARY
A R K A N SA S
FORT SMITH: AR-OK
L IT T LE ROCK-NORTH
L IT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LO U ISV IL LE : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: MO-1L
SPRING FIELD: MO
TENNESSEE
MEMPHIS: TN-AR

1977

NWETOER
1977 _

PECEMMR
1977

6.8
5.3
5.3
6.1
6.2

6.7
5.2
5.2
5.8
6.1

6.4
5.2
5.3
5.7
5.5

5.3
5.3
5.8
5.9

5.4
5.3
5.9
6.0

4.2
4.5
4.8
4.1
4.7
6.3
5.3
6.0
4.6
4.9
5.2

3.8
5.4
4.9
4.1
4.9
6.2
5.2
5.9
4.5
4.8
4.8

4.2
5.9
5.2
3.8
5.0
6.0
5.2
5.9
4.9
4.6
4.7

4.1
5.3
5.0
4.0
4.9
6.2
5.2
5.9
4.7
4.8
4.9

4.1
5.7
4.6
4.3
4.5
5.9
5.5
5.9
<». i
5.1
5.3

C I V I L I A N LABOR FORCE
SEASONALLY ADJUSTED
THOUSANDS OF PERSONS

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977
FROM PREVIOUS

OOTOWER
1977
UN ITED S T A T E S
CMV STATE SUMMARY
CMV M ETROPO LITAN SUMMARY
A R K A N SA S
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U ISV IL LE: K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: M O-1L
SPRINGFIELD: MO
T E N N E SSE E
MEMPHIS: TN-AR




NflVFMMft

1977

3 MONTHS
DE’Q£MBEB1977
(ANNUAL RATE)._

98101.9
7408.5
2308.2
905.9
77.9

96998.0
7412.7
2309.5
911.8
77.5

98926.0
7455.4
2323.5
916.6
78.4

173.5
33.1
1500.6
132.2
397.4
987.1
2125.8
1029.3
98.0
1663.4
367.1

174.6
33.6
1507.7
132.8
399.7
987.2
2123.9
1027.4
97.8
1862.6
366.8

175.9
34.0
1524.8
132.9
403.0
993.0
2124.6
1029.3
97.6
1891.0
368.9

FROM SAME
MONTHS A
YEAR AGO

4.4
4i 3

3.2

G >

G ?
3.9
2.8

5.0
-2.5
4.7
2.4
10.2
-0.9
9.2
6.0

tu b -

S-H r
3.4
4.0

4.3
1.5
4.8
1. 1
4.9
4.2
0*3
(£ > *
372
2.8
1.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

15




EARNINGS
ING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

JUSTED

SEASONALLY ADJUSTED
HOURS PER WEEK

- u.s.

1------------

STATES

—

____

-

-

'

-

11111111111 11111111111 11111111111 11111111111 . 11.. 1.. 1. /
1973
1975
1974
1976
1977

ARKANSAS

M IS S O U R I

16

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
_________ DOLLARS PER HOUR________

U N IT ED S T A T E S
CMV STATE SUMMARY
CMV M ETRO PO LITAN SUMMARY
A R K A N SA S
FORT SMITH: AR-OK
L IT T LE ROCK-NORTH
L IT T LE ROCKs AR
PINE BLUFFs AR
KENTUCKY
LO U ISV IL L E : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: MO-1L
SPRING FIELD : MO
TENNESSEE
MEMPHIS: TN-AR

OCTOBER

NOVEMBER

1977

1977

DECEMBER

1977 _

MONTHLY AVERAGE
3 MONTHS ENDING
DECEMBER

SEPTEMBER

1977

1977

5.79
5.15
6.27
4.40
4.55

5.81
5.17
6.30
4.42
4.67

5.82
5.21
6.38
4.47
4.71

5.81
5.18
6.32
4.43
4.64

5.69
5.03
6.16
4.33
4.47

4.99
5.21
5.80
6.66
4.26
5.94
6.73
5.03
4.80
5.52

5.03
5.20
5.85
6.65
4.26
5.97
6.78
5.05
4.83
5.51

5.04
5.27
5.91
6.70
4.29
6.01
6.92
5.06
4.88
5.52

5.02
5.23
5.85
6.67
4.28
5.97
6.8i
5.05
4.83
5.52

4.98
5.22
5.65
6.56
4.20
5.76
6.56
4.93
4.73
5.47

AVERAGE WEEKLY HOURS WORKED - MANUFACTUR1NG
SEASONALLY ADJUSTED
MONTHLY AVERAGE
3 MONTHS ENDING

HOURS PER WEEK

U N IT ED S T A T E S
CMV STATE SUMMARY
CMV M ETROPO LITAN SUMMARY
A R K A N SA S
FORT SMITH: AR-OK
L IT T L E ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LO U ISV IL LE : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: M O-1L
SPRING FIELD: MO
TEN N E SSE E
MEMPHIS: TN-AR




OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

DECEMBER
1977

SEPTEMBER
1977

40.4

40.5

40.3

40.4

40.3

40.4

40.4

40.4

40.4

40.1

41.0

41.0

41.2

41.1

40.9

39.6
39.4

40.8
39.6

40.0
39.6

40.1
39.5

39.9
39.1

39.2
41.8

40.6
41.4

40.3
41.2

40.1
41.5

40.3
41.5

40.2
40.7

39.7
40.3

39.9
40.8

39.9
40.6

39.9
40.6

40.1

40.1

40.0

40.1

39.9

40.8
41.7
38.8

40.9
41.4
39.2

40.5
41.6
39.4

40.7
41.6
39.1

40.3
41.3
39.1

40.5
41.1

40.5
41.3

41.0
41.6

40.7
41.3

40.1
40.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

17

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED
CMV STATE SUMMARY

INDUSTRIES

SEASONALLY ADJUSTED
INDEX:

CHEMICAL,

120

PETROLEUM, AND RUBBER PRODUCTS

1972-100
140
Pi 1

1972-100
140

1972-100

—

100

100

—

80

—

—

80

—
1

■LI 1 L..I 1 1 1 1

60

120

_

1 1

« » 1 » » 1 « » 1 » »

. i i L -i

j

l.i

i l-i.:

■ ■ 1 ■ » 1 ■ « 1 » ■

1 L .I » I L l .1-1-1 1 ■- X .-I ..L l I 1 1 l i t !

60

CONSTRUCTION
140
120

140
120

—

100

100

80

80
■ i ■ ■

60

■ ■ l ■ ■ l ■ ■ l ■ ■

■ .

I

■ ■ l ■ ■_l_i_i_ ■ • 1 1— i_L. i_ l

-1 L.I. > 1.1 1 1

11

-L-lJ-l 1 1 ... i.i r

60

ELECTRICAL EQUIPMENT

FOOD AND KINDRED PRODUCTS
—

11

120

140

.j

140

120

100

100

80

80

60

L i 1 L.1..1 1-L-l 1 1-. 1 ll 1 1.1 1 i.i 1 1 ■ ■i . L i

L u

1 j - i, U l l - I . l l . l j 1 I.

1 1,1.1,1 J l

■ 1 . ■ _ i _ d L-1.-I l-L 1 1 1

r

LUMBER AND FURNITURE

LATEST DATA PLOTTED: DECEMBER



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

18

60

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT - SELECTED

INDUSTRIES*

SEASONALLY ADJUSTED
INDEX.

PERCENTAGE CHANGE
3 MONTHS EN0IN6 DECEMBER.

1972*100

FROM SAME
MONTHS A
y e a r AGO

OCTOBER
. 1977 -

NOVEMBER
1977

DECEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

CMV STA TE SUMMARY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER

112.4
111.0
102.0
104.7
95.2

112.7
111.4
102.8
106.1
96.8

113.6
109.1
104.1
106.1
98.0

-5.8
13.3
2.0
8.8
13.0

3.4
10.0
10.6
4.2
6.5

95.2

95.9

96.1

5.2

1.5

A R K A N SA S
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

105.6
118.1
115.8
91.8
119.9

108.2
122.5
116.5
94.5
119.9

107.9
124.7
121.5
95.1
119.9

24.4
0.7
14.7
5.7
1.3

9.4
15.1
11.8
4.6
3.4

98.7

100.1

99.4

-1.2

-4.1

KENTUCKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
TEXTILE, APPAREL, AND
LEATHER

127.5
121.2
86.4
97.8
119.7

127.5
119.1
87.3
99.1
120.4

128.4
114.2
89.7
96.1
121.1

2.2
18.0
-3.6
6.8
4.1

6.9
20.5
13.9
3.4
1.6

95.9

95.4

95.4

-4.9

0.6

122.6
131.7
108.4
96.6

124.6
133.6
108.9
98.3

125.7
134.9
109.5
99.2

21.5
4.6
7.3
13.7

7.2
16.7
2.1
4.4

99.7
131.7

100.6
132.1

101.4
141.4

3.7
14.2

2.5
6.0

105.0
104.3
95.6
97.4

105.7
103.6
96.2
97.6

103.1
103.6
96.8
97.6

2.3
-4.5
8.3
0.0

5.9
5.8
2.0
-1.0

86.2
107.2

87.0
104.6

87.0
106.8

1.9
-1.1

-1.1
13.8

107.0
107.2
110.9
97.9
111.9

107.7
106.5
113.3
98.8
112.5

109.1
104.8
113.9
101.4
112.7

-6.1
12.1
5.1
20.4
4.0

4.4
7.9
2.6
10.6
3.7

125.0

125.7

126.0

12.0

3.8

M IS S IS S IP P I
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
M IS S O U R I
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
TENNESSEE
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

KALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

19

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX: 1972-100

ARKANSAS

M IS S IS S IP P I

150
130

—

—

150

—

—

130

110

110

90
70

90
70

150
130

111 H 111111,

n l n l n L u .

n l u l i i J

ti

n l i i l i i l n .

111111II1-LL

l i l u l u l l i

n i n J n l n

n l i i l i i l n

n l n l n J n .

i l l ii I n

Ui.

M IS S O U R I
—

m—

—

—

110

110

90
70

—
i § 1> >111111 n l i i l i i l n ■11 llli Lll-LL n i l

90

—
i I i l L i i . ii

In Inin,

Lilnlnln

nlnlnln

i § 11 ■1111»i n i n J n l n

nlnliiJj-L

TENNESSEE

150
130

150
130

—

—

.---

70
150

—

130

110

110

90

90
11111111111 11111111111 11111111111 frl 1A 1111111 11111111111 70
1977
1973
1975
1976
1974

70 11111111111 11111111111 11111111111 11111111111 11111111111
1977
1973
1975
1976
1974
LATEST DATA PLOTTED: DECEMBER



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

20

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100

U N IT ED S T A T E S
CMV STA TE SUMMARY
CMV M ETRO PO LITAN SUMMAR
A R K A N SA S
FORT SMITH: AR-OK
L IT T L E ROCK-NORTH
L IT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U IS V IL L E : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: MO-1
SPRING FIELD: MO
TENNESSEE
MEMPHIS: TN-AR

OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

103.2
104.8
97.2
112.9
114.1

103.2
105.5
97.0
115.3
120.4

104.2
106.5
95.9
116.0
124.0

108.7
107.8
104.0
96.4
98.1
109.4
99.2
95.1
96.4
105.1
96.9

109.4
109.6
104.3
97.5
96.0
110.2
99.3
94.3
101.3
106.1
97.1

108.7
107.8
105.3
99.6
96.8
111.1
99.8
94.0
99.1
107.2
98.2

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER.
FROM PREVIOUS
FROM SAME
MONTHS A
3 MONTHS
YEAR AGO
(ANNUAL RATE)

2.8
6.3

3.8
5.5
&

6.2
3.1

7.4
5.6

5.3
13.6
4.7
2.1
17.3
4.9

8.0
9.2
5.2
3.8
9.0
4.8

-979
10.4
7.7

0.5
6.4
3.8

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER.

INDEX: 1972-100

U N IT E D ST A T E S
CMV STA TE SUMMARY
CMV M ETROPO LITAN SUMMARY
A R K A N SA S
FORT SMITH: AR-OK
L IT T LE ROCK-NORTH
LIT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U ISV IL LE: K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: MO-1L
SPRINGFIELD: MO
T E N N E SSE E
MEMPHIS: TN-AR




OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

FROM SAME
MONTHS A
YEAR Ag_Q„

115.7

116.3

116.4

3.2

3.9

117.8
110.7
123.6
121.7

118.3
111.1
124.7
123.0

118.1
110.4

6.0
1.8
6.7
6.1

4.0
1.7
5.0
1.8

121.8
108.1
122.7
113.5
113.0

122.9
109.1

6.1
4.1
10.1

3.9
1.8

123.7
114.4
113.8

123.3
109.7
121.1
112.2
113.7

4.7

5.0
1.2
3.9

122.0

122.5

123.0

4.4

5.0

110.5
105.7
123.1

110.6
105.8
123.5

110.5
105.6
124.1

2.2
0.4
4.0

1.9
0.8
3.3

119.5
111.8

119.9
112.3

120.6
112.8

9.2
4.4

4.4
1.9

125.1
123.6

0.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
21

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100
1972-100




1972

100
130

120
110
100
90

ARKANSAS

130

120
110
100
90

KENTUCKY

130
120
110
100
90

M IS S IS S IP P I

130
120

110
100
90
130
120
110
100
90

TENNESSEE

130
120
110
100
90

22

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100
1972-100

1972-100

130

130

120 —
110

—

120
110

—

100

100

90 1 i 1 ....... ..
1972

11111111111 . . 1. . 1. . 1. . . . 1. . 1. . 1. .
1975
1973
1974

LATEST OATA PLOTTEDi OECEMBER



. . 1. . 1. . 1. .
1976

. . 1. . 1. . 1. ,
1977

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

23

90

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEXt
OCTOBER

1977
U N IT ED S T A T E S
CMV STA TE SUMMARY
CMV M ETR O PO LITA N SUMMAR
A RK A N SA S
FORT SMITH: AR-OK
LIT T LE ROCK-NORTH
L IT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U IS V IL L E : K Y -IN
M IS S IS S IP P I
M IS S O U R I
ST. LOUIS: M O-IL
SPRING FIELD : MO
TENNESSEE
MEMPHIS: TN-AR

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977

1972-100________

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

FROM SAME
MONTHS A
YEAR AGO

NOVEMBER
1977

DECEMBER
1977

112.9

113.2

3.3

3 .9

114.5

114.7

6.2

4.4

107.1

106.2

0 >

121.6
122.0

122.1
124.0

6.5
3.7

<*3>
5.7
3.1

120.1
108.8

120.2
108.8

5.9
5.3

4.7
2.9

118.3
108.1
108.1

116.8
107.8
108.8

9.0
-0 .4
9.0

5.1
2.0
5.4

118.5

119.1

4.5

107.6
102.5
117.2

107.7
102.2
116.9

4.9
2,5

-q 3 >
or?

S k it

115.3
109.2

116.0
109.8

9.6
4.9

5.1
2.2

112.5
114.0
106.9
120.2
118.7
119.0
108.0
117.9
107.4
107.7
117.8
107.6
102.7
116.3
114.7
108.8

STATE SUMMARY-TOTAL PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

INITIAL QUARTER

1972*100

QUARTER
1-73

2-73

3 -7 3

4-7 3

2-73

5.1

3-73

4 .3

3 .5

4-73

3 .9

3 .3

3 .1

1-74

3.6

3.1

2 .9

2 .7

2-74

3 .3

2 .9

2 .7

2.5

1-74

2-74

3-74

4-74

1-75

2-75

4-75

3-75

1-76

2-76

3-76

4-7 6

1-77

2-77

3 -7 7
104.8
105.7

106.5
107.2
2 .3

107.8

3-74

2 .8

2 .4

2 .1

1.8

4-74

1 .8

1 .2

0 .8

0.2

-

0 .6

-

2 .0

-

4 .4

1-75

0 .2

-

0 .4

1.9

-

3 .0

-

4 .7

-

7.1

-

-

-

1.1

-

0 .4

1.3

107.9
106.7
9 .7

104.0

l.l

2-75

0 .1

0 .5

-

1.1

-

1.8

-

2 .6

-

3 .8

-

5.2

-

5.5

3-75

0 .5

0 .0

-

0 .4

-

0.9

-

1.5

-

2 .2

-

2 .9

-

2 .4

1.5

4 .3

4-75

1 .0

0 .6

0 .3

-

0 .0

—0 *4

-

0 .9

-

1.1

-

0 .3

3.1

5 .3

6 .2

1-76

1.5

1.2

1.0

0 .7

0 .5

0 .3

0 .2

1.2

4 .1

6 .0

6.8

7 .3

2-76

1 .6

1.3

1.1

0 .9

0 .7

0 .6

0 .6

1.4

3.8

5.1

5 .4

4 .9

-

103.7
104.8
106.4
108.3
2.6

109.0

3-76

1.5

1.2

1 .0

0 .8

0 .7

0 .5

0.5

1.2

3 .2

4 .1

4 .0

3 .3

1.3

0 .0

4-76

1 .5

1.3

1.1

1.0

0 .8

0 .7

0 .7

1.3

3.0

3 .8

3.6

3.0

1.6

1.1

2 .2

1-77

1.9

1.7

1 .6

1.4

1.3

1.3

1.4

2.0

3 .6

4 .3

4 .3

3 .9

3 .0

3 .2

4 .8

2-77

1.9

1.7

1 .6

1.5

1.4

1 .4

1.5

2.1

3.5

4 .1

4 .0

3 .7

2 .9

3 .0

4 .1

5 .0

2.5

3-77

1.9

1.7

1.6

1.5

1.4

1.4

1.5

2.0

3.3

3 .8

3 .7

3.3

2 .7

2 .7

3 .4

3.8

2 .0

1.4

4-77

2 .1

2 .0

1.9

1.8

1.7

1.7

1.8

2.3

3.5

4 .0

4 .0

3 .7

3.2

3 .3

3 .9

4 .4

3 .4

3 .8

6 .2

1-73

2-73

3-7 3

4 -7 3

1-74

2-74

3-7 4

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-7 6

4-7 6

1-77

2-7 7

3-7 7




109.0
109.6
111.6

7 .5

112.3
112.7
114.4

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

24

PRODUCTION AND P R IC E

INDICATORS

Farm Land Values
1967=100

1967=100

March data for 1957-70, March and November data for 1971-75, and February and November data
for 1976-78

FARM LAND VALUES
Index 1967-100
March
1975

February
1976

United States

213

242

267

283

296

6.2

10.9

CMV State Summary

208

243

281

302

323

9.4

14.9

191
209
200
203
204
214
236

213
260
244
239
205
241
251

229
328
295
253
205
262
266

238
353
321
281
217
284
275

250
372
359
304
232
301
288

6.8
7.2
16.1
11.1
9.3
8.1
6.4

9.1
13.4
21.7
20.2
13.2
14.9
8.3

Arkansas
Illinois
Indiana
Kentucky
Mississippi
Missouri
Tennessee




November
1976

25

February
1977

November
1977

Percentage Change
November 1977
from
from
previous
February 1977
year
(annual rate)

PRODUCTION AND P R IC E INDICATORS

ELECTRIC POWER CONSUMPTION - EIGHTH DIST R IC T
SEASONALLY ADJUSTED
INDEX:

CHEMICAL,

1971-100

PETROLEUM,

T E X T IL E ,

APPAREL,

LATEST DATA PLOTTED: DECEMBER



AND RUBBER PRODUCTS

AND LEATHER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

26

PRODUCTION AND P R IC E

INDICATORS

ELECTRIC POWER CONSUMPTION - EIGHTH DISTRICT
SEASONALLY ADJUSTED
INOEXi

TOTAL MANUFACTURING AND MINING
MANUFACTURING
DURABLES
ELECTRICAL MACHINERY
FABRICATED METALS
LUMBER AND FURNITURE
NONELECTRICAL MACHINERY
OTHER DURABLES
PRIMARY METALS
STONE, CLAY, AND 6LASS
TRANSPORTATION EQUIPMENT
NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES,AND
TOBACCO
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
M IN IN G




PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER.

1971-100

FROM SAME
MONTHS A
y e a r AGO

OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

117.4

116.4

119.0

-0 .3

4.3

116.3

115.1

117.7

-1 .4

4.8

125.2

122.8

100.8

125.4
103.3
139.1
165.0
138.0
141.0
123.4
113.9
115.1

7.0
-9.0

135.6
186.6
144.1
133.5
129.5
106.6
117.4

97.7
137.6
180.9
143.3
134.7
124.4
113.7
112.3

140.7
19.9
25.4
-1 7 .0
43.4
-1 4 .2

9.6
6.5
9.8
68.7
11.5
4.5
-2 .3

112.8

112.3

114.5

-4 .5

-0.6

112.B

113.8

113.5

3.2

1.7

125.6
111.5

119.3

114.4
109.7

-8.8

3.0

112.8

-2 1 .4

6.0

98.2

94.3

95.2

-3.3

2.1

182.9

194.8

151.2

1.4

-7 .9

6.0

12.0
9.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

27

PRODUCTION AND P R IC E

INDICATORS

VALUE OF CONSTRUCTION CONTRACTS LET
NOT SEASONALLY ADJUSTED
INDEX:
1974-100
330 —
-

1974-100
1974-100
330

TOTAL B U I L D I N G

u .s .
_____
STATES

—

—

170

170

90
10

90

" "
____ i____ i____ i____ ____ i____ i____ i____ ____ i____ i____ i____ ____ i____ i____ i____ ____ i____ i____ i____ ____ i____ i____ i____ ____ i____ i

1971

1972

RESID EN TIAL

1973

1974

BU ILDIN G

1975

1976

i

1977

NONRESI DENT IAL B U I L D I N G
ARKANSAS

M IS S IS S IP P I

LATEST DATA PLOTTED: 4TH QUARTER



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

28

10

PRODUCTION AND P R IC E

VALUE OF CONSTRUCTION CONTRACTS LET*
NOT SEASONALLY ADJUSTED
INDEX:

1974-100
4TH
QUARTER
1977

3RD
QUARTER
1977

TOTAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L IT T L E ROCK-NORTH
LIT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U ISV IL LE: K Y -IN
M IS S IS S IP P I
MISSOURI - EAST
ST. LOUIS: M O-1L
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS

RESID EN TIA L BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L IT T L E ROCK-NORTH
L IT T L E ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
L O U ISV IL L E : K Y -IN
M IS S IS S IP P I
MISSOURI - EAST
ST. LOUIS: MO-1L
SPRING FIELD : MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
P R E S I D E N T I A L BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
L IT T LE ROCK-NORTH
L IT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LO U ISV IL LE : K Y -IN
M IS S IS S IP P I
MISSOURI - EAST
ST. LOUIS: M O-1L
SPRING FIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS

PERCENTAGE CHANGE
4TH QTR 1976
TO
4TH OTR 1977

160.2
171.1
160.3
166.2
131.8

143.1
161.8
130.7
171.6
207.7

34.3
38.3
19.7
36.3
204.9

144.6
54.3
189.4
251.0
168.9
166.1
190.1
185.4
278.1
115.7
104.4

163.2
85.3
166.8
273.7
96.7
225.8
137.2
141.8
232.2
95.1
82.4

16.7
-6 6 .7
51.2
31.4
12.4
46.3
37.9
48.2
-0.9
-4.6
-17.1

198.8
202.7
180.9
217.5
184.2

173.7
183.3
161.2
216.7
210.7

36.5
50.6
35.4
62.2
119.2

144.5
113.9
199.7
346.2
135.8
209.9
214.6
202.0
353.2
160.1
153.8

177.6
200.2
180.2
294.2
112.6
189.4
179.0
162.1
328.6
136.5
131.1

53.8
133.0
65.0
-2-.1
56.9
47.0
25.5
22.5
10.3
44.5
44.5

121.2
135.5
139.8
99.3
34.3

112.3
137.7
100.5
112.8
197.2

9.4
23.2
1.1
-2.7
1135.7

145.0
142.7
-1 8 .4
38.8
30.2
-88.1
177.2
150.9
35.3
142.0
250.1
144.3
203.2
60.1
-2 0 .4
110.3
272.1
45.8
98.9
167.5
65.1
170.1
123.2
98.4
196.9
128.2
- 2 2 .7
55.4
-47.1
73.1
- 6 1 .4
62.5
41.1
*USEO WITH THE PERMISSION OF DODGE CONSTRUCTION POTENTIALS, MCGRAW-HILL INFORMATION SYSTEMS
COMPANY
PREPARED BY FEDERAL RESERVE BANK OF ST.




29

INDICATORS

PRODUCTION ANO P R IC E INDICATORS




HOUSING PERMITS
SEASONALLY ADJUSTED
INDEX:

1971-100

250
190
130
70
10
250
190
130
70
10
250
190
130
70
10

M IS S O U R I

250
190
130
70
10

30

PRODUCTION AND P R IC E INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
INDEXi
OCTOBER
1977

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER.

1971-100

NOVEMBER
1977

DECEMBER
1977

FROM SAME
MONTHS A
y ea r _ agql-

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE,)

103.2

95.3

00

20.6

CMV STATE SUMMARY

72.1

95.0

68.4

-35.2

9.3

CMV M ETR O PO LITA N SUMMARY

51.0

86.1

63.5

27.2

19.3

A RKA NSA S
LITTLE ROCK-NORTH
LITTLE ROCK: AR

104.1

151.3

98.6

72.3

34.1

63.9

83.8

74.3

186.1

17.1

KENTUCKY
L O U ISV IL LE: K Y -IN

67.6
41.8

54.3
43.2

109.6
97.0

-36.0
59.7

27.8
36.4

M IS S IS S IP P I

49.2

159.8

59.0

44.8

47.1

M IS S O U R I
ST. LOUIS: M O-1L

76.1
82.6

96.5
126.3

65.8
63.0

-41.7
18.7

-2.2
17.8

TEN N E SSE E
MEMPHIS: TN-AR-MS

63.4
33.0

80.9
50.3

54.2
39.9

-65.9
47.6

-1.6
14.8

CM

91.2

to

U N ITED S T A T E S

STATE SUMMARY-HOUSING PERMITS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

INITIAL QUARTER

1971«100

QUART€R
1-73

2-73

2-73

-

54*4

3-73

-

51.7

-

4 8 .8

4-7 3

-

45.3

-

40.1

3 -7 3

1-74

4-7 3

2-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-7 6

1-77

2-77

3-77
94.1
79.6

-

3 0 .0

72.8

1-7 4

-

50.1

-

4 8 .6

-

4 8 .5

-

62.2

2-74

-

4 6.0

-

43.7

-

41.9

-

47.0

-

25.8

3-74

-

4 9 .1

-

48.0

-

4 7 .7

-

52.6

-

4 6 .9

-

62.0

4-7 4

-

52.3

-

52.0

-

5 2 .6

-

57.0

-

55.1

-

65.1

1-75

-

4 6 .4

-

45 .1

-

4 4 .5

-

4 7.0

-

4 2 .4

2-7 5

-

35.0

-

32.0

-

29 .2

-

29.1

-

19.6

3-75

-

29.1

-

25.5

-

2 1 .9

-

20.7

-

10.3

4-75

-

27.5

-

24.1

-

2 0 .7

-

19.4

-

10.2

18.7

-

14.8

-

12.9

-

3 .4

-

15.8

-

14.2

-

6.1

22.7

-

19.2

3-76

-

16.9

-

12.9

-

4-7 6

-

11.7

1-77

-

13.8

-

6.8

41.6
-

68 .0

-

37.5

31.3
22.1

32.9

17.9

6.1

93.1 205.6

-

6 .9

16.6

79.3 117.3

54.5

-

7 .3

10.8

51.1

18.2

62.3

43.5
48.5
-

9.5

0 .3

18.0

53.1

62.0

31.1

20.8

3 .3

10.6

35.9

38.9

14.0

3 .0

2 .0

5 .7

20.1

45.0

49.3

29.3

2 3 .7

-

47.3
61.2

53.3

10.0 T 25.0

49.6

37.3

26.7 114.1

60.0

7 .4

-

3.1

-

0 .5

8 .7

12.9

27.5

51.5

56.2

3 9 .7

3 6.9

51.8

48.8 109.5 105.1

10.1

-

6 .4

-

4 .3

3 .4

6 .6

18.2

36.7

38.6

23.8

19.3

26.1

18.6

-

0 .6

1.9

9 .9

13.6

25.5

43.9

46.5

33.6

30 .9

39.2

35.2

56.7

41.2

17.1 128.5

2 .4

5.0

13.0

16.7

28.1

45.3

47.9

36.4

34.3

42.1

39.2

57.5

45.8

30.2

91.7

60.8

0 .3

1.9

8.9

11.9

21.6

35.9

37.2

26.6

2 3 .9

26.8

24.8

35.8

2 4 .0

9 .3

33.5

2.1

3 -7 3

4-7 3

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-7 6

4-76

1-77

2-77

-

-

9 .0

-

•

22.5

-

53.0

o

-

2-76

57.1

T

1-76

-

2-77

-

8 .7

-

4 .7

3-77

-

5.8

-

1.7

4-77

-

7 .6

-

3 .V

1-73

3-74

2-73

-




38.1

11.0

71.8
-

40.0

63.2
77.7
87.5
-

35.2

78.5

3-77

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

31

PRODUCTION AND P R IC E

INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED

BEEF CATTLE

CORN

350
—

—

—

270
190
110

.11 1D1,11 lll.l l l l l l l l . i l II l l L - l 111,1,11 u l n l u l - u . i i l i i h i l n

30

BROILERS
350
270
190
110
30

HOGS
350
270
190
110
30

MILK
350
—

—

270
190
110

illlllulll

1111 i l l 11 H 11 111 1I I 1II. n 111 11 i L

l

illlllulll

350

350
270

30

TURKEYS

UPLAND COTTON
—

270

—

190

190

110

110

30

1111111 ftil1 11111111111 11111111111 11111111111 11111111111
1973
1975
1977
1976
1974

30

LATEST DATA PLOTTEOi DECEMBER




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

32

PRODUCTION AND P R IC E

INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED
INDEXt

ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON
L IV E S T O C K AND L IV E S T O C K
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977

1871-100

FROM SAME
MONTHS A
YEAR AGO

OCTOBER

NOVEMBER

DECEMBER

1977

1077

1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

165.6

172.1

170.2

16.1

-4 .9

131.7
168.1
179.6
158.7
217.6

148.3
192.2
190.9
161.8
210.7

156.2
203.5
193.3
162.4
200.0

37.0
165.1
- 1 3 .8
16.5
- 5 0 .9

-16.1
53.3
-1 1 .2
3.6
-1 9 .7

150.5

148.0

153.1

-1 .6

7.3

122.1
167.9
222.6
166.6
166.5

119.4
152.6
209.2
165.4
-176.6

123.2
146.8
231.5
165.4
183.9

5.1
-4 3 .2
-2 5 .4
1.9
66.4

11.3
6.0
16.6
-1 .2
21.8

PRICES RECEIVED BY FARMERS
COMPOUNDED ANNUAL RATES OF CHANGE
INITIAL QUARTER

TERMINAL

1971*100

QUARTER
4 -7 3

1-74

2-74

4-7 4

3-74

1-75

2-75

3-75

4-75

1-76

2-76

3-7 6

4-7 6

1-77

2-77

3-7 7
153.5
177.8

80.0

167.4

4-7 3

31 *1

18.9

1-74

32 .7

24.8

2-74

12.6

3 .3

3-74

15.5

8 .3

—

4-7 4

14.3

8.2

-

i—75

7 .1

1.2

-

8 .0

-

5.1

-

2.2

-

8 .7

2.1

1.6

-

3 .4

6 .9
3 .3

-

2 1 .4

-

181.3

37.6

4 .0

10.4

-

4 .7

1.7

-

2 .3

3.2

1 4 .2

-

12.6

30.6

6 .3

18.7

-

158.5

4 1 .6

13.5

2-75

7 .8

2 .7

-

5 .2

3-75

9 .7

5 .2

-

1 .6

4-75

7 .5

3 .3

-

2 .9

-

0 .3

-

4 .7

-

-

1.4

1-76

6 .5

2 .7

-

2 .9

0 .6

-

4 .6

2 .3

2-76

7 .0

3 .5

-

1 .5

0 .7

-

2 .7

3 .7

3-76

6 .0

2 .7

-

2 .0

0 .0

-

3.1

2 .5

4-7 6

3 .7

0 .5

-

3 .9

2.2

-

5.2

0 .5

1-77

4 .9

2 .0

-

2 .0

2-77

5 .0

2 .3

-

1 .5

3-77

3 .1

0 .5

-

3 .1

4-77

3 .3

0 .8

-

2 .6

1-73

2-73

3 -7 3




-

-

169.5
172.7

7.8
-

14.4

-

6 .0

-

-

156.8

32.0

161.8

12.2

13.4

1.6

-

0 .4

20.6

28.3

1.4

-

3 .6

8.3

5 .9

172.2
-

-

3 .6

5.2

2 .6

-

8 .2

-

0 .9

6.9

5.3

-

1.4

4 .7

13.7

-

0 .6

-

1.8

4 .5

2 .8

-

2 .8

0 .7

2.9

-

-

4 .8

2 .2

-

7 .4

— 6.1

2 .6

-

-

3.5

-

0.1

-

0 .3

-

3 .0

-

0 .9

-

1.8

2.8

1.3

-

0.2

-

2.3

2 .0

-

0 .3

-

1.0

3.2

2 .0

-

1.3

-

1.8

-

4 .1

0 .4

-

2 .6

-

3.5

-

1.3

-

3 .4

0 .1

-

1.9

-

1-74

2-74

4-73

-

165.0

1.8
0 .3

1.6

-

166.5

12.6

3-74

-

3 .6

170.4

6 .9

0 .4

0 .4

-

3 .7

0 .7

1.6

-

1.2

-

167.4

6 .9
-

23 .8

156.4
165.6

-

2.1

25 .7

0 .7

15.8

0 .1

-

1 .5

-

4 .7

-

3.5

-

3 .5

-

6 .6

-

6 .5

0 .1

2.7

0.5

-

0 .7

-

3 .5

-

2.2

-

2.1

-

4 .5

-

4 .0

1 .7

4-7 4

1-75

3-7 6

4-7 6

-

2-75

3-75

4-75

1-76

2-76

168.3

6.7
1H
lo

-

-

•

59*5
69.4

3-7 3

1

2-73
3-73

2-73

V*
■
o»

1-73

-

25.2

5.2

-

10.6

6 .8

2-77

3-7 7

1-77

156.5
159.1

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

33

FIN A N CIA L

INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

L IT T L E ROCK - NORTH L IT T L E ROCK: AR
—

—

■1 t l j . j j . l - l l I. tIi111111 l.l 1, 11111111111 ■■■llLl 1 1.1 1 1.1 i.




LO UISVILLE:

34

KY-IN

FIN A N CIA L

INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
PERCENTAGE CHANGE

INDEX. 1974-100________

TOTAL LOANS
UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA. MO
E V A N S V IL L E . IN -K Y
F A Y E T T E V IL L E S P R 1NGDALE: AR
FORT S M IT H . AR
L I T T L E ROCK-NORTH
L I T T L E ROCK. AR
L O U IS V IL L E . K Y - I N
MEMPHIS: T N -A R - MS
P IN E BLUFF: AR
ST. L O U IS : M O - 1L
S P R IN G F IE L D : MO
TEXARKANA: AR
TOTAL D E P O S IT S
UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA. MO
E V A N S V IL L E : IN -K Y
F A Y E T T E V IL L E SP R IN G D A L E: AR
FORT S M ITH : AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
LO U IS V IL L E : K Y -IN
MEMPHIS: T N - A R - M S
P IN E BLUFF: AR
ST. L O U IS : M O - 1L
S P R IN G F IE L D : MO
TEXARKANA: AR

3 MONTHS ENDING DECEMBER. 197?

NOVEMBER

DECEMBER

1977

1977

1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

115.2
122.6
144. 4
139.9

116.6
122.4
143.4
137.9

117.6
124.5
141.1
146.4

14.2
11.8
-5.9
19.3

11.6
11.5
11.1
17.9

183.9
149.0

190.2
152.4

197.3
157.8

14.9
27.4

27.7
21.3

150.2
133.0
95.8
142.1
116.1
151.0
147.5

148.6
130.2
97.0
136.0
117.2
148.3
146.5

151.2
133.2
100.1
135.7
118.2
151.3
150.5

9.0
8.6
9.5
15.6
10.9
4.9
43.9

14.0
18.9
7.8
12.2
6.0
16.0
23.9

119.6
123.1
142.3
145.2

120.8
123.7
143.9
145.0

121.9
125.0
145.5
148.5

9.1
6.4
8.2
11.7

8.4
6.5
8.0
12.7

158.8
149.1

160.9
150.3

163.7
155.0

12.3
18.8

11.2
19.7

140.8
132.9
109.4
136.3
114.7
148.2
140.2

140.8
133.3
109.0
138.3
115.1
144.0
142.8

141.9
135.3
110.4
137.8
115.8
149.5
145.3

6.5
4.3

11.2
14.1
4.3
14.7
0.5
14.4
12.7

2.2

24.0
6.1
6.2
24.1

AVERAGE NUMBER OF MEMBER BANKS
OCTOBER
1977

STATE SUMMARY
419.00
(E IG H T H D I S T R I C T )
METROPOLITAN SUMMARY*
127.00
NONMETROPOLITAN SUMMARY
290.00
ARKANSAS
78.00
F A YE TTEV 1L L E 6.00
S P R 1NGDALE: AR
3.00
FORT S M ITH : AR
L I T T L E ROCK-NORTH
7.00
L I T T L E ROCK: AR
4.00
P I N E BLUFF: AR
3.00
TEXARKANA: AR
NONMETROPOLITAN AREAS
53.00
KENTUCKY
41.00
8.00
LO U IS V IL L E : K Y -IN
NONMETROPOLITAN AREAS
31.00
132.00
IL L IN O IS
NONMETROPOLITAN AREAS
104.00
40.00
IND IA NA
E V A N S V IL L E : IN -K Y
13.00
NONMETROPOUTAN AREAS
27.00
16.00
M IS S IS S IP P I
NONMETROPOUTAN AREAS
15.00
97.00
M IS S O U R I
4.00
COLUMBIA: MO
65.00
ST. L O U IS : M O - 1L
5.00
S P R IN G F IE L D : MO
NONMETROPOUTAN AREAS
51.00
15.00
TENNESSEE
MEMPHIS: T N -A R -M S
9.00
NONMETROPOLITAN AREAS
9.00
* EXCLUDES BANKS IN TWO METROPOLITAN AREAS



FROM SAME
MONTHS A
YEAR AGO

OCTOBER

NOVEMBER
1977

DECEMBER
1977

418.60
126.60
290.00
78.00

419.00
126.00
291.00
78.00

429.20
130.20
297.00
81.00

6.00
3.00

6.00
3.00

6.00
3.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
131.60
104.00
40.00
13.00
27.00
16.00
15.00
97.00
4.00
64.60
5.00
51.00
15.00
9.00
9.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
131.00
104.00
40.00
13.00
27.00
16.00
15.00
98.00
4.00
64.00
5.00
52.00
15.00
9.00
9.00

7.00
4.00
3.00
56.00
41.00
8.00
31.00
134.20
104.00
41.00
13.00
28.00
16.00
15.00
100.00
4.00
68.20
5.00
53.00
16.00
9.00
10.00

DECEMBER
1976

PREPARED BY FEDERAL RESERVE BANK OF

35

FIN A N CIA L

INDICATORS




NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

NONMETROPOLITAN ARKANSAS
210
170

—

130
90
L l i i l L u lu ,

■L-l L x

i

I

j

J±U _

1 1 1.1 l l j

1111

LX

11 1 1t

i l l 1,

50

NONMETROPOLITAN KENTUCKY
210
170
130
90
50

NONMETROPOLITAN M I S S I S S I P P I
210
—

—

170
130
90

n i l il l i l i t 11 l.i 11u 111 l l l u - b i 11 _i_l I_liL ix L Li,

50

NONMETROPOLITAN M ISSOURI
210
—

—

170
130
90

-u 111 Ln.l 11

■Lilli

1II

NONMETROPOLITAN TENNESSEE

36

1 11

iiluliiln

■Li 1.l.lX.l lJ. LJ-

50

FIN A N CIA L

INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX:

1974-100________

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER.

1977

FROM SAME
MONTHS A

OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

TOTAL LOANS
NONMETROPOLITAN SUMMARY
ARKANSAS
IL L IN O IS
INDIANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE

146.8
138.0
164.6
140.3
158.3
133.1
144.4
132.5

148.1
138.5
166.2
142.2
159.9
>36.1
144.7
133.1

150.5
139.8
169.5
144.6
160.3
139.4
148.6
134.7

16.0
14.8
17.2
10.1
15.7
30.6
13.0
13.6

15.6
12.3
18.3
12.1
18.5
18.6
14.6
14.8

TOTAL DEP OS I T S
NONMETROPOLITAN SUMMARY
ARKANSAS
IL L IN O IS
INDIANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE

135.3
129.2
141.8
129.1
146.9
133.9
135.3
124.2

136.4
130.2
142.8
129.7
148.9
137.0
135.4
124.8

138.1
131.0
145.1
131.3
149.8
140.2
138.0
126.3

10.6
10.1
9.5
0.3
13.4
32.5
6.1
9.8

9.3
5.9
10.0
4.8
13.2
16.4
10.0
9.8

..YEAR ASfl-

STATE MEMBER BANK DATA
SEASONALLY ADJUSTED
__________ INDEX:

1974-100________

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977

OCTOBER
1977

NOVEMBER
1977

DECEMBER
1977

FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

STATE SUMMARY
(EIGHTH D IS T R IC T )
ARKANSAS
IL L IN O IS
INDIANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE

129.4
145.8
150.5
135.2
139.9
134.3
120.1
99.8

129.4
145.6
149.0
135.3
137.5
137.2
121.4
100.8

131.5
147.9
149.8
140.5
139.9
140.6
123.8
103.7

12.9
14.3
9.6
14.3
10.7
30.7
12.0
10.1

12.7
15.0
11.5
15.8
19.1
19.2
8.7
8.7

TOTAL DEP OS I T S
STATE SUMMARY
(EIGHTH D IS T R IC T )
ARKANSAS
IL L IN O IS
IN D 1ANA
KENTUCKY
M IS S IS S IP P I
MISSOURI
TENNESSEE

127.3
136.8
134.5
132.5
139.1
135.3
118.8
110.9

128.0
137.6
132.3
132.4
139.4
138.4
120.2
110.8

129.3
138.6
132.8
134.4
141.3
141.5
121.1
112.3

7.9
11.2
0.9
5.9
8.1
32.5
9.1
2.9

7.6
9.7
5.0
8.8
13.6
16.8
4.0
4.8

FROM SAME
MONTHS A
YEAR AGO_

TOTAL L OANS




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

F IN A N CIA L

INDICATORS

SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

220

TENNESSEE

220

180

180

140

140

100

100

60

60




38

FIN A N CIA L

INDICATORS

SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED
INDEX.
OCTOBER
1977

TOTAL SAVINGS
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LIT T LE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
L O U ISV IL LE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

MORTGAGE LOANS OUTSTANDING,
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
L IT T LE ROCK-NORTH
LIT T LE ROCK: AR
PINE BLUFF: AR
KENTUCKY
L O U ISV IL LE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRING FIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

1974-100________

MAlfrllRriT
IYU V L M T > C.n

. 1.977 _

DECEMBER
1977

PERCENTAGE CHANGE
3 MONTHS ENDING DECEMBER. 1977
FROM PREVIOUS
3 MONTHS
(ANNUAL RATE)

FROM SAME
MONTHS A
■ XEAP AS&-

162.7
163.5
157.8
169.2
160.4

164.1
165.2
159.2
171.1
161.8

166.2
166. SF
161.1
173.2
163.3

16.3
16.2
16.0
17.6
13.4

15.9
16.9
14.7
18.1
12.7

162.4
150.9
160.3
154.9
200.4
157.2
158.5
139.4
163.4
161.7

163.3
152.6
161.3
156.2
202.6
158.8
160.1
141.0
165.4
163.8

165.4
153.6
163.j)
157.6
204.0
160.6
162.2
140.4
167.1
164.9

12.1
14.3
12.2
16.0
17.5
14.8
16.2
14.3
17.7
20.7

17.0
15.5
15.1
12.1
39.2
13.9
14.7
22.5
17.0
14.7

153.3
157.4
148.3
169.7
166.5

155.8
160.2
151.2
172.4
167.4

157.9
162.5
153.3
174.8
169.0

19.9
20.2
18.3
22.4
11.8

18.2
19.0
16.2
21.4
17.8

160.6
149.1
156.6
144.3
180.3
151.3
147.7
138.3
158.0
145.7

162.7
151.5
159.1
146.6
183.6
153.7
151.3
139.0
160.5
147.7

164.5
153.0
161.7
149.1
186.0
155.9
153.7
140.9
163.3
149.5

22.4
19.9
20.7
16.8
22.9
17.3
19.9
13.0
22.0
17.1

19.2
21.3
17.4
13.1
37.4
16.2
16.1
27.0
19.0
14.0

NUMBER OF SAVINGS AND LOAN ASSOCIATIONS
OCTOBER

UNITED STATES
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LO U ISV ILLE: K Y -IN
M IS S IS S IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS



NOVEMBER

DECEMBER

DECEMBER

1977 _

1977

1977

1976

4063
71
4

4066
71
4

4065
71
4

4044
71
5

7
3
107
12
58
112
55
5
93
6

7
3
104
12
58
112
55
5
93
6

7
3

7
3
108
12
41
113
55
5
76
4

58
112
55
5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

39

POPULATION
Bureau of the Census
Percentage
Change
1975
1970
from
from
1970
1960
(annual rates)

1970

1975

203,305,000

213,051,000

.9

15,964,668

16,809,000

1.0

.7

CMV Metropolitan Areas

5,654,793

5,838,500

.6

1.3

Arkansas
FayettevilleSpringdale: AR
Fort Smith: ARtOK
Little Rock-Notth
Little Rock: AR
Pine Bluff: AR
Texarkana: AR-TX

1,923,322

2,116,000

1.9

.7

127,846
160,421

149,100
201,400

3.1
4.7

3.3
1.7

323,296
85,329
113,488

367,300
83,700
114,700

2.6
-r .4
.2

1.7
.5
1.2

Kentucky
ClarksvilleHopkinsville: KY-TN
Evansville: IN-KY
Louisville: KY-IN
Owensboro: KY

3,220,711

3,396,000

1.1

.6

118,945
284,959
867,330
79,486

143,800
287,500
891,700
81,200

3.9
.2
.6
.4

.6
.5
1.4
1.2

Mississippi

2,216,994

2,346,000

1.1

.2

Missouri
Columbia: MO
St. Louis: MO-IL
Springfield: MO

4,677,623
80,935
2,410,602
168,053

4,763,000
88,200
2,369,400
187,300

.4
1.7
- .3
2.2

.8
3.9
1.2
1.9

Tennessee
Memphis: TN-AR-MS

3,926,018
834,103

4,188,000
873,200

1.3
.9

1.0
1.4

United States
CMV States




1.3


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102