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CENTRAL MISSISSIPPI VALLEY
T O N O M IC INDICATORS

C OL U M BIA
ST. L O U I S
EVANSVILLE
OU ISV ILLI

O SPR IN G FIELD

O

O

f a y e t t e v i l l e -s p r i n g d a l e

fo rt

SMITH

MEM PH IS
L IT TL E ROCK

PINE B LU F F

O texarkana

3RD QUARTER 1978




Prepared by Federal Reserve Bank of St. Louis
Released: Novem ber 28, 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. 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 data for the Eighth Federal Reserve
District are based on reports to this Bank from various utility and self­
generating firms in the District and U.S. data are obtained from the Board
of Governors of the Federal Reserve System. 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
In general, economic activity in the Central Mississippi Valley (CMV) has
progressed much like that in the nation since the beginning of the current expansion* Many
sectors of the CMV economy have continued to register gains in recent quarters; however,
some slowing occurred in the third quarter in the manufacturing sectors in both the nation
and the region, with the slowing apparently more pronounced in the region.
Consumer income and spending continued to post gains in the CMV along with the
nation in the first half of 1978. Personal income in the five CMV states increased at an
11.2 percent annual rate in the first half of 1978, slightly less than the 11.8 percent rate
of Increase in the United States. Since the beginning of the current expansion, personal
income has risen at an 11.6 percent rate in the CMV states, somewhat above the 10.7 percent
rate in the United States. Department store sales in six CMV cities have continued upward,
posting a 17 percent rate of increase in the three months ending in August from the three
months ending in February. Such sales were particularly strong in the three largest CMV
cities — St. Louis, Memphis, and Louisville.
In the current recovery, employment gains in the CMV region as well as in the
nation have been quite substantial, but some slowing in employment growth occurred in the
third quarter. Over the past three years payroll employment increased at about a 4 percent
annual rate in the five CMV states, the same as in the nation. Rapid gains continued to
be posted into the first half of this year as payroll employment increased at rates of 4
and 5.4 percent, respectively, in the region and the nation. However, from the second to
the third quarter of this year, payroll employment in the five states registered no increase,
and in the nation only a modest gain was posted.
The recent slowing in payroll employment appears to have been largely confined to
the manufacturing sector. Manufacturing employment in the CMV states rose at more than a 5
percent annual rate from the second quarter of 1975 to the second quarter of this year,
whereas such employment declined at a 6 percent rate from the second to the third quarter.
U.S. manufacturing employment also slowed, with no increase in the third quarter after
increasing at about a 4 percent rate in the previous three years.
On a seasonally adjusted basis, the data in the table below indicate that several
major manufacturing industries in the CMV states experienced a setback in employment in the
third quarter. Some of the declines primarily resulted from less than seasonal Increases in
employment. For instance, using not seasonally adjusted data, employment in three of the
five industry categories posted actual gains during the period.

MANUFACTURING EMPLOYMENT FOR SELECTED INDUSTRIES IN THE FIVE CMV STATES
(Annual Rates of Change)
Second Quarter 1978
to
Third Quarter 1978
Not Seasonally
Seasonally
Adjusted
Adjusted
Chemical, Petroleum, and
Rubber Products
Electrical Equipment
Food and Kindred Products
Lumber and Furniture
Textiles, Apparel, and Leather




3

- 3.7 %
- 5.0
- 2.2
- 11.9
- 7.8

+
+
+
-

1.2 %
2.3
8.8
1.2
4.0

INCOME AND TRADE INDICATORS

PERSONAL INCOME
SEASONALLY ADJUSTED
INDEX:

1971-100
1971-100
240

1971-100




200
160
120

80

MISSOURI

24 0
200
160
120
80

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

INCOME AND TRADE INDICATORS

PERSONAL INCOME
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHAN6E

_____ INDEX* 1971-100
1ST
QUARTER
_ 1978

2ND
QUARTER
1978

189.8

196.0

13.9

11.4

196.9

205.0

17.5

11.8

ARKANSAS

216.5

225.9

18.5

13.9

KENTUCKY

198.7

213.4

33.0

12.4

M IS S IS S IP P I

206.9

212.7

11.6

11.8

M ISSOURI

184.3

190.3

13.8

11.2

TENNESSEE

199.5

205.8

13.3

11.2

U N ITED

STATES

CMV S T A T E SUMMARY

---------------------------—

1ST QTR 1978
TO
2N£_ QTR .1978

2ND QTR 1977
TO
2NJLJim. 1978

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

TERMINAL
WUAK1tK

___ INITIAL QUARTER
1-74

2—7*

2-74

11.6

3-74

11.6

11.6

4-74

9.4

8.3

3-74

4-74 ..Jl-75 -2-7?

3-75 - A t ??

1-76

2-76

3-76

1071• 1AO
4-76

1-77

2-77

3-77

4-77

1—7H
---------- 137.0
--

140.8

5.2
----------142.6

1-75

7.1

5.6

2.7

0.3

2-75

8.4

7.7

6.4

7.0

14.1

3-75

9.6

9.2

8.6

9.7

14.8

----------142.7
----------1471,?
15.5

----------152.9

4-75

9.7

9.4

8.9

9.9

13.3

12.9

10.3

1-76

10.1

9.9

9.6

10.5

13.2

12.9

11.6

12.8

2-76

9.8

9.5

9.3

9.9

12.0

11.5

10.2

10.1

7.4

3-76

9.6

9.4

9.1

9.7

11.4

10.8

9.7

9.5

7.8

--------- l>toy7
--------- 1911?
164
8.3

4-76

9.9

9.8

9.6

10.1

11.6

11.2

10.3

10.3

9.5

10.6

13.0

1-77

10.0

9.9

9.7

10.2

11.5

11.2

10.5

10.5

9.9

10.8

12.0

11.1

2-77

10.3

10.2

10.1

10.6

11.8

11.5

10.9

11.0

10.7

11.5

12.6

12.4

13.7

3-77

10.4

10.3

10.2

10.6

11.7

11.4

10.9

11.0

10.7

11.4

12.2

12.0

12.4

11.1

4-77

10.6

10.5

10.4

10.9

11.9

11.7

11.3

11.4

11.2

11.8

12.5

12.4

12.9

12.5

10.9

11.3

11.0

10.9

10.0

9.5

5.2

11.7 12.2 12.0 12.2
--------------— --11.8

12.1

11-2

17.A

3-77

4-77

1-78

'

“---------- --------------- -------

1-78

10.2

10.2

10.1

10.4

11.3

11.1

10.6

10.7

10.4

2-78

10.7

10.6

10.5

10.9

11.8

11.6 -1!.3

11.3

11.2

l-f*

£-r 4

3-74

4-74

1-75

2-75

4-75

1-76




3-75

2-76

3-76

INITIAL QUARTER

--------- 172.9

4-76

--------- 177*5

1-77

133 »3

2-77

1
13.8

--------- 194.4
196.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEX:

1971-100
1971-100
350

1971-100




270
190
110

30

350
27 0
190
110

30

6

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED

COMPOUNDED ANNUAL
RATES OF CHANGE
9 MONTHS ENDING AUGUST 1878

_________ INPEXi 1971-100_______

UN ITED

STATES

CMV M E T R O P O L I T A N SUMMARY
FORT S M I T H : A R - O K
L I T T L E R O C K -N O R T H
L I T T L E ROCK: AR
L O U IS V IL L E : K Y -IN
MEMPHIS: TN -A R -M S
S T . L O U I S : M O - 1L
S P R I N G F I E L D : MO

FROM SAME
MONTHS A
y e a r AGO

JUNE
1878

JULY
1978

AUGUST
. 1978 -

186.9

184.5

186.0

9.3

12.5

185.7

176.8

182.4

23.7

9.4

290.0

288.3

287.9

0.1

10.8

293.5

262.3

283.2

-3.0

9.9

171.6

161.8

172.9

34.7

13.8

174.7

168.5

166.3

15.8

4.2

FROM PREVIOUS
__ 3 MONTHS

179.6

168.2

171.5

19.7

8.9

206.4

190.7

205.1

4.9

15.5

DATA NOT COMPARABLE, SEE INCOME AND TRADE INDICATORS, PA6E 2

U.S. DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANGE
TERNINAL
QUARTER
-1=14
-2=1*

___INITIAL QUARTER
2-74

3-74

4-74

1-75

2~75

3-75

4-75

1-76

2-76

3-76

1Q71 si OA
4-76

1-77

2-77

3-77

4-77

1-78

5.2

128.1
--.
------- *
*

- ?*?

1*3

4-74

-0.4

-3.1

-7.3

1-75

0.6

-0.6

-1.6

4.5

2-75

4.7

4.5

5.6

12.8

128.5
126.1
127.5
21.6

133.9

3-75

5.3

5.3

6.3

11.3

14.8

8.3

4-75

5.3

5.3

6.2

9.8

11.7

7.0

5.7

1-76

5.9

6.1

6.9

10.0

11.4

8.1

8.1

10.5

2-76

5.6

5.6

6.3

8.7

9.6

6.7

6.2

6.5

136.6
138.5
142.0
2.6

142.9

3-76

6.1

6.2

6.9

9.1

9.9

7.6

7.5

8.1

6.9

11.4

4-76

7*2

7.4

8.1

10.2

11.1

9.4

9.6

10.6

10.7

14.9

1-77

_ It 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

7.4

8.0

9.6

10.2

8.9

8.9

9.5

9.3

11.1

11.0

7.3

8.5

8.5

8.7

9.4

11.0

11.7

10.7

11.0

11.7

12.0

13.9

14.6

13.3

17.0

26.2

10.0

10.3

11.1

12.8

13.5

12.8

13.3

14.3

14.8

17.0

18.1

18.0

22.3

29.8

33.5

8.6

8.9

9,4

10.8

U.4

10.3 -IP..*?

11*3

11.4

12.7

12.9

11.8

13.3

15.0

9.7

-9.8

-2=71__ -?«3

9*5

10.1

11.5

12.0

11*3

11.5

12.1

■12*3

13.6

13.9

13.2

14.6

16.2

13.0

4.0

20.0

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

4-77

1-78

J b ? ? __
4-77
—L~?8__




146.8
18.6

153.2
155.5
158.7
168.2
180.8
176.2
1 8 4 .4

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

NCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS11
SEASONALLY ADJUSTED
INDEX:

1974-100
1974-100
225

1974-100




175
125
75
25

ARKANSAS

22 5
175
125
75
25

KENTUCKY

225
175
125
75
25

8

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS11
SEASONALLY ADJUSTED
INDEXi 1974-100______
JUNE

U N ITED

STATES

IMPORTED
DOMESTICALLY PRODUCED

CMV S T A T E SUMMARY ^
ARKANSAS
KENTUCKY
M ISSISSIPPI
MISSOURI
TENNESSEE

FROM SAME
MONTHS A
YEAR AGO

131L

JULY
laii

133.3

124.3

134.5

-15.4

1.8

142.9
130.2

135.7
122.1

142.9
132.9

-23.0
-16.2

-6.3
4.7

125 .5

122.6

112.4

-42.4

5.7

131 .9

114.4
N. A.
127.7
115.5
132.0

106.5
N. A.
145.0
114.4
128.3

-38.9
N.A.
26.3
-33.4
11.9

2.3
N.A.
0.8
-0.9
20.8

N.A.

114 .0
114.5
183 .5

AU6UST
1978

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING AUGUST 1978
FROM PREVIOUS
3 MONTHS

U.USED WITH THE PERMISSION OF R. L. POLK AND COMPANY
12.NEW PASSENGER CAR RETAIL SALES
INSTATE SUMMARY EXCLUDES KENTUCKY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

INCOME AND TRADE INDICATORS

FARM CASH RECEIPTS
SEASONALLY ADJUSTED
INDEX:

1971-100

1971-100

1971-100
360
280
200
120
1 97 2




1 97 3

197 4

1975

10

19 7 6

1 97 7

1978

40

FARM CASH RECEIPTS

INCOME AND TRADE INDICATORS

SEASONALLY ADJUSTED
_________ INDEX? 1971 — 100_______

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END IN6 AUGUST 1978
FROM SAME
MONTHS A
YEAR AGO

JUNE
1978

JULY
1978

AUGUST
1978

201.2

169.2

209.8

-27.9

13.0

219.4

182.6

234.7

-16.4

22.7

ARKANSAS

233.8

192.4

260.0

-27.1

17. 1

KENTU CKY

215.2

177.5

249.1

17.6

23.9

M IS S IS S IP P I

214.4

159.6

240.8

-45.5

26.6

M ISSOURI

191.6

182.7

203.8

-32.3

24.8

TE N N E S S E E

219.8

186.6

228.5

-28.7

17.8

UNITED

STATES

CMV S T A T E SUMMARY

FROM PREVIOUS
3 MONTHS

UNITED STATES—1
FARM CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANGE__
TERMINAL
QUARTER

___ INITIAL 1QUARTER
1-74

2-74

2-74

-45.0

3-74

-21.8

11.2

4-74

-9.4

16.3

1-75

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

1971*100
4-76

1-77

2-77

3-77

4-77

1-78

2-78
164.3
168.7

21.7

177.2

-20.9 -10.6 -19.9 -47.3

151.0

2-75

-9.9

1.9

3-75

-3.5

8.1

7.3

2.9

43.7

4-75

-6.8

1.7

-0.0

-4.9

15.8

1.3 -24.7

1-76

-3.0

5.2

4.2

1.0

18.8

9.6

-0.9 -10.6

51.4

167.5
36.3

181.0
168.6

-1.8

28.2

179.4

-0.3

7.4

6.8

4.5

19.9

13.1

6.2

26.2

-3.0

3.4

2.4

-0.1

11.2

4.5

-2.2

6.7

“2.7 -23.7

4-76

-2.7

3.1

2.2

0.0

9.6

3.8

-1.7

5.1

-1.6 -12.5

1-77

—0.6

4.9

4.3

2.5

11.4

6.7

2.4

8.9

4.8

1.0

6.0

no
1

2-76
3-76

-1.1

3.9 __ 3*2_

1.5

9.2

3-77

-2.9

1.5

0.7

-1.0

5.4

-1«3

4-77

-0.3

4.1

3.5

2.1

8.5

4.9

1.9

24.2

189.4
177.0
0.5

177.2

4.5

-1.3

12.2

25.4

2.1

7.9

187.5

“2.8

5.4

“2.7

“7.3

-2.7

5.8

3.0

-0.2

5.3

6.5

0.9

5.2

44.2

-2.4 __

-7.1

184.1

-3.7 -15.6 -23.3

172.3
188.8

1-78

0.4

4.5

4.1

2.8

8.7

5.5

2.8

6.5

4.0

1.4

6.3

7.6

3.5

7.3

26.9

11.7

2-78

2.0

6.0

5.7

4.6

10.3

7.4

5.1

8.6

6.7

4.6

9.5

11.1

8.4

12.7

28.0

20.7

30.4

207.4

3-78

-0.3

3.2

2.7

1.6

6.4

3.6

1.3

4.0

1.9

-0.4

3.0

1.6

9.1

-0.6

-6.3 -32.6

187.9

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

2-77

3-77

4-77

1-78




3.4 __ o a
4-76

1-77

194.1

2-78

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX:

1971-100
1971-100
135

1971-100




125
115
105

12

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS END IN6 SEPTEMBER 1978

INDEX: 1971 — 100_______
SEPTEMBER
1978

119.4

119.6

119.9

1.7

116.9

117.1

117.0

0
•
1

FROM SAME
MONTHS A

AUGUST
1978-

113.0

113.0

113.1

-1.1

1.2
*

122.4
128.7

121.9
126.8

120.8
126.4

-6.3
-11.4

0.0
1.8

129.0
114.9

128.8
115.0

126.7
114.1

-6.9
-10.1

0.4
0.0

124.0
120.4
114.4

124.4
119.0
116.3

123.9
119.7
115.7

0.3
-4.5
-1.0

2.6
2.8
4.6

120.0

118.8

119.0

-9.5

-0.7

113.2
110.4
130.4

113.0
109.8
129.8

112.9
110.3
130.7

1.1
0.4
2.8

1.8

112.3
103.7

113.3
104.6

114.5
104.6

-0.7
0.4

0.7
0.4

, YEAR
4.2

CM

U N ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SM IT H: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFF: AR
KE NTU CKY
EV ANS VIL LE : I N - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
M ISSOURI
ST . L O U I S : M O - 1L
S P R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN-AR

FROM PREVIOUS
3 MONTHS

JULY
1978

X
1.2

* 1978 DATA NOT COMPARABLE WITH PREVIOUS DATA

STATE SUMMARY-TOTAL EMPLOYMENT
________________________ _________COMPOUNDED ANNUAL RATES OF CHANGE

________________________________________________

__INITIAL QUARTER

TERMINAL
QUARTER
1-7*

2-7*

3-7*

*—7*

2—7*

*.l

3-7*

2.2

0.*

*—7*

-0.6

-2.9

-6.0
-9.9

1-75

2-75

3-75

*-75

1—76

2-76

3-76

_____1971*100
*-76

1-77

2-77

3-77

*-77

1-78

2-78
_______llfli-1_______110*2_______ IQffi5..

1-75

-3.0

-5.3

-8.0

2-75

-2.7

-*.*

-5.9

-5.8

-1.5

3-75

-1.5

-2.6

-3.3

-2.3

1.7

5.0

*-75

-0.*

-1.1

-1.*

-0.2

3.3

5.8

_______lQfti.7.
_______ 105.3
_______126*6_
6.5

_______108.3

1-76

0.5

0.1

0.0

1.3

*.3

6.3

6.9

7.2

2-76

0.8

0.*

0.*

1.5

*•0

5.*

5.5

5.0

2.9

3-76

0.7

0.3

0.3

1.2

3.2

*.2

3.9

3.1

1.1

-0.7

*-76

0.9

0.6

0.6

1.5

3.3

*.l

3.9

3.2

1.9

1.*

3.7
5.5

_______112*2_______111.0
_______110.8
_______111..9
7.3

_______113.8

1-77

1.*

1.2

1.3

2.1

3.8

*.5

*.5

*.Q

3.3

3.*

2-77

1.8

1.6

1.7

2.5

*.0

*.7

*.7

*.*

3.8

*.l

5.7

6.7

6.1

3-77

1.7

1.5

1.6

2.3

3.6

*.2

*.l

3.8

3.2

3.3

*.3

*.6

3.2

0.3

*-77

1.9

1.8

1.9

2.6

3.8

*.3

*.3

*.0

3.5

3.6

*.5

*.7

3.9

2.8

5.3

1-78

2.0

1.8

1.9

2.6

3.7

*.2

*.l

3.8

3.*

3.5

A.2

A.3

3 t6

2*8

*.iQ

2..«8

2-78

1.8

1.7

1.7

2.3

3.3

3.8

3.6

3.*

2*9

2.9

3.5

3.*

2.7

1.8

2.3

0.9

3-78

1.6

1.*

1.5

2.0

2.9

3.3

3.2

2.8

2.* __ £**

2.8

2.6

1.9

1.0

1.2

-0.1

-1.3

-2.0

1-7*

2-7*

3-7*

*—7*

1-75

2-75

3-75

*-75

3-76

*-76

1-77

2-77

3-77

*-77

1-78

2-78




1-76

2-76

_______115*5
115.6
117.1
_______117.9
_______117*6

-1.0

_______117.0

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

13

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT




PERCENT

12
— |

6
3
0
12

9

6
3
0

12
H

6
3
0
12

— I
0

12
9
6

3
0

14

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT
MONTHLY AVERAGE
3 MONTHS ENDING

U N ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMI TH* AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK* AR
P I N E BLUFF* AR
KE NT U CK Y
EVANSVILLE* I N - K Y
LOUISVILLE* K Y -IN
M IS S IS S IP P I
M ISSO URI
S T . LO U IS * M O - 1L
S P R I N C F IE L D * MO
TENNESSEE
MEMPHIS* TN-AR

JULY
1878

AUGUST
1878 _

SEPTEMBER
1978

SEPTEMBER

___LflZfi___

JUNE
1878

6.2

5.9

6.0

6.0

5.8

6.1

6.2

6.0

6.1

5.2

5.5

6.5

5.5

5.7

5.0

6.3
6.5

6.5
7.3

7.3
7.8

6.7
7.2

5.5
5.8

4.5
6.6

4.8
6.9

6.1
8.2

5.1
7.2

4.0
6.1

5.4
4.8
5.4

5.4
6.4
5.7

5.1
5.6
4.9

5.3
5.6
5.3

4.4
4.1
4.6

7.6

8.2

7.9

7.8

6.8

5.1
5.6
4.0

5.5
6.7
4.4

5.0
5.2
4.4

5.2
5.8
4.3

4.8
5.4
3.8

6.6
5.6

6.3
6.4

6.3
6.3

6.4
6.1

5.1
5.0

C I V I L I A N LABOR FORCE
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
THOUSANDS OF PERSONS_____. 3 MONTHS ENDING SEPTEMBER 1978
FROM SAME
MONTHS A
SEPTEMBER FROM PREVIOUS
JULY
AUGUST
y e a r AGO
3 MONTHS
1978
1978 _
1978-

U N ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMI TH* AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK* AR
P I N E BLUFF* AR
KENTU CKY
EVANS VILL E* I N - K Y
LOUISVILLE* K Y -IN
M IS S IS S IP P I
M ISSO URI
ST. LOUIS: M O-IL
S P R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN-AR

100,618.0

100,548.9

100,870.0

1.9

3.2

7,605.8

7,631.3

7,608.0

1.7

1.2

2,385.8
923.9
82.1

2,403.7

2,387.3

2.3

921.2
81.6

921.8
81.8

-1.6
-6.1

IK
0.1
2.0

178.0
35.6

178.3
35.8

177.8
36.0

-2.4
-5.4

0.8
2.0

1,568.3
137.7
412.3

1,573.9
138.4
420.3

1,561.5
138.0
414.6

3.8
3.1
5.1

863.2

960.9

958.3

4.5
1.5
2.1
-5.7

-0.3

2,242.9
1,070.6
99.3

2,248.3
1,077.6
99.2

2,236.2
1,064.7
99.9

2.6
2.3
4.1

0.8
*
0.8

1,906.8
368.2

1,916.9
374.6

1,936.7
374.1

4.7
5.1

0.6
-0.2

* 1978 DATA NOT COMPARABLE WITH PREVIOUS DATA




PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

15

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED

DOLLARS PER HOUR
8
1—
- u.s.
,
STATE#

—

—

ii
- W .f.
.
_ STATE#

HOURS PER WEEK
48
44
40

r

-

2

36

0 -U.1111111II u l u l u l u u l u l u l u u l u l u l u . u l l l l u l l . 1-

1974

1975

1976

1 97 7

1978

■1-ilu lu L u . l l l l l l i l l u l l l l l l i l l u u lu .l u lu . i I i . i . i I h * 8 0
19 7 5
1976
19 7 7
1978
19 7 4

ARKANSAS

8

—

111

6 —

48
— 44
^ A.

4

2
.1 i l l i L u lu i i l u i u l u l l l l l l i l l u

0 - l l l l l l i l l u l l l l l l i l l u l l l l l l i l l u i iLuLul-u I l l l l l u l u .

/
^/— 3
l l l l l l i l l u .........

KENT UCKY

8

r

2

40

~

-

TENNESSEE

48

—

44
40

4

0

/

f r p

2

36

u l u l u l u n i l ill i ll ! . u l l l l l l l l l - l l l l l l i l l u - u l l l l l l l l l 5 0

0 - u l l l l l l l l l x iiu L u L u i i l u i u l u u l u l u l u . u l l l l l l l l l

6 —

0

44

4

8

36

48

—------ —

6 —

40

19 7 4

11111111111 11111111111 111111 111 11 u l l l l l l l l l
19 7 7
19 7 5
19 7 6
19 7 4

II 111111111 11111111I 11 11111111111 11111111111
19 7 5
19 7 6
19 7 7
19 7 8

LATEST DATA PLOTTED. SEPTEMBER



__
19 7 8

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

16

36
0

EM P LO Y M E N T

IN D IC A TO R S

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
_________ DOLLARS PER HOUR_______

U N ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMI TH* AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFFi AR
KE NTU CKY
LOUISVILLE! K Y -IN
M IS S IS S IP P I
M ISSOURI
ST. LOUIS: M O-IL
S P R I N G F I E L D : MO
TENNESSEE
MEMPHIS! TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
S MONTHS ENDING SEPTEMBER

JULY
1978

AUGUST

6.18

6.20

6.25

8.6

jlsz2 _

SEPTEMBER FROM PREVIOUS
S MONTHS
___i m ___

FROM SAME
MONTHS A
YEAR AGO,
8.4

5.46

5.48

5.55

6.2

9.2

6.62

6.66

6.74

7.0

8.4

4.78
4.95

4.76
4.94

4.83
4.91

11.8
7.6

10.7
10.4

5.46
5.97

5.59
5.94

5.61
6.13

25.8
15.5

10.5
15.4

6.18
6.96

6.34
7.08

6.33
7.21

6.3
8.1

11.1
8.3

4.61

4.61

4.64

8.0

10.1

6.17
7.06
5.37

6.11
7.08
5.53

6.26
7.19
5.51

0.3
4.2
22.2

6.9
8.1
11.0

5.10
5.94

5.16
5.87

5.19
5.93

7.8
13.2

9.1
8.2

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

__________ HOURS PER WEEK

UN ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT S M I T H ! AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCKi AR
P I N E BLUFFi AR
KENTU CKY
LOUISVILLEi K Y -IN
M IS S IS S IP P I
M ISSOURI
ST. LOUISi M O -IL
S P R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN -A R




JULY
1978

AUGUST
1978

SEPTEMBER
1978

SEPTEMBER
__ 1978

JUNE
1978

40.5

40.3

40.4

40.4

40.6

39.7

39.7

39.8

39.7

40.0

40.2

40.1

40.2

40.2

40.8

39.5
38.5

40.2
38.1

39.3
38.2

39.7
38.3

39.7
39.8

40.1
42.0

38.2
42.9

38.8
43.8

39.0
42.9

40.1
41.9

38.9
40.9

39.1
40.6

39.9
40.1

39.3
40.5

39.6
40.6

39.6

40.1

39.8

39.8

39.8

39.4
39.9
38.8

38.6
40.3
39.2

39.9
40.8
39.3

39.3
40.3
39.1

40.1
41.4
38.9

40.5
40.6

40.3
40.2

40.0
39.0

40.2
39.9

40.2
40.4

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

17

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED INDUSTR IES*
SEASONALLY ADJUSTED
INDEXt 1972-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

1972-100

1972-100
140
120
100

80
60

CONSTRUCTION

ELECTRICAL EQUIPMENT

100

80
60

111.

120

140
120

n

140

' ""

. . i n I...in ... 1.Lliil.. ill n l.ixlii ..l.ll-LJ-111111 i i 111l-i-il l i .1.11111j-i Lii- 1111>111I IL




100

80
60

FOOD AND KINDRED PRODUCTS
140
120
100

80
60

LUMBER AND FURNITURE
140
120
100

80
60

T E X T IL E , APPAREL, AND LEATHER

18

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED INDUSTRIES*
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
_________ INDEXt 1972" 100_______
3 MONTHS ENDING SEPTEMBER 1878
FROM SAME
MONTHS A
SEPTEMBER FROM PREVIOUS
JULY
AUGUST
1978
ye ar AGO
1978
__ 3 MONTHS
1978 .

UNITED STATES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD. AND KINDRED PRODUCTS
LUMBER AND FURNITURE
T E X T I L E , APPAREL, AND
LEATHER

111.6
111.0
109.0
96.7
101.6

111.4
110.5
108.9
95.7
101.3

111.1
110.2
108.7
95.4
101.3

-0.4
9.2
4. 1
-7.2
-3.5

2.5
10.4
4.9
-1.6
3.4

92.3

92.4

92.6

-4.2

-0.5

CMV S T A T E SUMMARY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
T E X T I L E , APPAREL, AND
LEATHER

116.0
114.1
108.2
104.8
95.2

114.5
114.6
108.7
105.5
96.7

113.7
114.1
107.9
105.4
96.4

-3.7
1.1
-5.0
-2.2
-11.9

0.3
8.5
3.7
2.3
0.9

91.9

94.5

93.4

-7.8

0.0

ARKANSAS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND P R IN T I N G
T E X T I L E , APPAREL, AND
LEATHER

115.8
133.5
115.0
94.0
132.5

112.9
131.8
117.8
92.7
134.3

110.9
128.8
115.8
92.0
133.7

-18.1
-20.6
-3.4
-12.3
1.5

7.0
5.1
4.8
0.1
6.7

91.2

95.2

92.3

-11.9

-4.6

KE NTU CKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
T E X T I L E , APPAREL, AND
LEATHER

132.0
129.9
94.5
98.7
123.4

129.3
130.4
94.7
98.2
129.4

130.2
129.6
93.9
98.0
129.1

-0.9
8.8
-13.9
-0.8
25.8

3.2
16.4
3.4
-1.0
3.2

93.4

92.8

92.3

-7.8

-1.7

118.4
133.0
115.0
99.6

120.1
134.4
116.7
101.1

116.6
134.8
116.3
101.1

3.5
3.0
11.4
-8.6

5.3
4.2
8.0
3.3

97.8
118.0

97.3
116.2

97.7
115.2

-12.1
-21.1

-3.6
-13.7

108.1
103.2
94.2
99.5

109.0
103.1
93.3
100.2

109.0
103.8
94.3
99.3

8.5
-1.2
-2.9
-5.8

2.1
1.1
0.4
0.9

87.1
110.6

88.3
96.0

86.9
110.5

-4.0
-14.4

2.3
0.1

111.4
106.5
111.1
93.6
112.9

110.1
107.0
112.9
96.7
111.7

109.1
108.1
112.5
97.3
112.1

-5.9
-2.6
-4.2
-13.0
-5.5

0.6
11.2
1.7
0.6
2.7

118.4

125.2

122.8

-6.9

2.4

M IS S IS S IP P I
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
T E X T I L E , APPAREL, AND
-LEATHER
TRANSPORTATION EQUIPMENT
M ISSOURI
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
PAPER AND P R IN T I N G
T E X T I L E , APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
TE NN E S S E E
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND P R IN T I N G
T E X T I L E , APPAREL, AND
LEATHER

XALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.
j g PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS



EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX:

1972-100
1972-100
150

1972-100




130
110

90
70

M IS S IS S IP P I

TENNESSEE
—

150
—

130

no
90
11111111111 l l l l l l l l i l l l l l l l l l l i l l l l l l l l l l i l l l l l l l l l l i l l
19 7 5
1977
19 7 6
19 7 4
19 7 8
PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

20

70

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
_________ INDEXt 1972-100_______

UNITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMI TH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFF: AR
KENTUCKY
EV ANSVILLE: I N - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
M ISSOURI
ST. LO UI S: M O - 1L
SP R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING SEPTEMBER 1978
FROM SAME
MONTHS A
YEAR AGO

JULY
1978

AUGUST
1978

SEPTEMBER

106.0

106.0

106.0

106.3

106.6

106.6

-6. 1

1.8

99.0

97.8

98.4

-8.5

1.0

115.2
127.6

116.2
124.2

114.8
123.9

-9. 1
-15.5

2.0
4.2

108.2
104.0

106.6
103.3

105.1
104.1

-15.2
-15.0

-1.2
-2.6

107.3
104.9
92.5

109.1
99.7
97.9

108.8
99. 1
97.2

-1.5
-22.3
-2.9

3.3
2.4
1.5

FROM PREVIOUS
___ 1313___ __ 3 MONTHS

0.0

3.0

110.9

111.3

111.2

-5.2

0.0

100.8
97.1
95.2

98.5
93.6
95.8

100.6
95.6
96.2

-5.8
-7.6
-2.9

0.8
0.2
-2.9

105.3
102.7

106.8
102.0

106.0
101.4

-7.2
-0.8

2.8
4.8

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
_________ INDEXt 1972" 100_______
JULY
1978

UNITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT SMI TH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFF: AR
KENTUCKY
EVAN SV ILLE : I N - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
M ISSOURI
ST . L O U IS : M O - 1L
SP R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN-AR




AUGUST

-187.fi—

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING SEPTEMBER 1978

SEPTEMBER

FROM PREVIOUS
___LSIfi___ __ 3 MONTHS

FROM SAME
MONTHS A
ye ar AGO

120.5

120.9

120.9

3.0

4.6

121.6

121.8

122.2

2.0

4.0

114.5

115.0

115.5

1.4

3.0

128.5
126.5

127.5
126.3

129.7
127. 1

2.2
-0.3

5.0
4.8

126.3
119.7

125.8
120.0

125.6
119.2

-0.3
0.3

4.0
5.3

128.9
120.5
121.1

129.7
120.6
122.9

129.7
122.1
123.6

2.2
3.0
3.3

6.6
1.6
6.9

127.9

127.4

127.1

6.9

5.5

113.9
108.1
127.3

114.2
108.8
127.9

114.2
109.2
129.3

1. 1
1.9
5.2

1.6
2.1
3.0

120.0
113.3

120.3
112.9

121.3
113. 1

-2.3
-0.7

3.4
1.3

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

21

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX:

1972-100

1972-100




1972-100

130
120
110
100

90
130
120
110
1QO

90
130
120
110
100

90

22

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX:

1972-100

1972-100

1972-100

130

130
120

110
100 b :

100

L i.i tm 111

i»1»il»il.i

1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 » 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 «

MEMPHIS: TN-AR

90
130

120 —

—

110

110

100

90

—
-.11.11,1 1 1 1 1 1 i

1
1
1
I I I
I I I 1 1 1 1 1 1 1 1 -1..L.A 1 1 i l . l l l 1 -1 j J 1 1 1 1 1 1 1 1 - L J - 1 i i 1 i _ a 1 i i

i i 1i i1ii 1

m

■A 1 1 1 1 1 I I 1 1 1

ST. LOUIS: M O -IL
130

90

_

—

_

—

120

-

110

100

90

100

130

120 —

no

120

.11

.I l l 1i.l .1, A, 1 . ■1 ■■ 1.
1972

■ 1 ■ ■

1 ill 1 1 1 1 1 1 1

19 7 3

197 4

. . 1. .1. .1. .
19 7 5

LATEST OATA PLOTTED: SEPTEMBER




100
11 1 111 1 1 1 11

19 7 6

11 1 1 1 11 1 11l

19 7 7

11

11 1 1 1 l I l i
19 7 8

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

23

90

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX» 1972-100_______

U N ITED STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT S M IT H : AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P I N E BLUFF: AR
KE NTU CKY
EV AN S VI LL E : I N - K Y
LOUISVILLE: K Y -IN
M IS S IS S IP P I
M ISSO URI
S T . L O U I S : M O - 1L
S P R I N G F I E L D : MO
TENNESSEE
MEMPHIS: TN -A R

JULY
197i

AUCUST
1978

116.8

116.9

117.1
110.3

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INC SEPTEMBER 1978
FROM SAME
MONTHS A
YEAR AGO

SEPTEMBER FROM PREVIOUS
3 MONTHS
1978
117.0

2.1

4.2

117.1

117.5

-0.3

3.3

110.1

110.6

-1.1

2.6

124.5
127.1

124.3
125.6

125.0
126.0

-0.3
-5.2

4.1
4.6

122.7
115.5

121.8
115.9

121.5
115.9

-2.6
-3.0

3.0
3.4

123.4
115.1
112.1

124.2
113.8
114.8

124.0
114.1
114.8

1.6
-5.7
1.8

5.9
1.9
5.4

122.3

122.3

122*2

3.0

3.9

110.8
105.3
117.9

110.3
104.0
119.1

110.8
105.2
120.9

-0.4
-1.1
3.1

1.5
1.5
1.5

115.1
111.1

115.7
110.9

116.2
110.7

-3.4
-0.7

3.3
2.0

STATE SUMMARY-TOTAL PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE___
__ INITIAL QUARTER

TERMINAL
QUARTER
1-74
2-74

2.3

3-74

1.1

4-74

-0.7

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

4-77

1-78

2-78
107.9
107.9

0.0
-2.2

106.7

-4.4

104.1

1-75

-3.0

-4.7

-6.9

-9.4

2-75

-2.7

-3.9

-5.2

-5.5

-1.5

3-75

-1.6

-2.3

-2.9

-2.4

1.3

4.3

4-75

-0.5

-0.9

-1.1

-0.3

3.0

5.3

6.2

103.7
104.8
106.4

1-76

0.6

0.3

0.4

1.3

4.2

6.2

7.2

8.1

2-T6

0.9

0.7

0.8

1.7

4.1

5.5

5.9

5.7

3.4

3-76

0.9

0.7

0.8

1.5

3.5

4.5

4.6

4.0

2.0

0.7

4.0

3.5

2.0

1.3

1.8

_______ 108.5
109.4

4-76

0.9

0.8

0.9

1.6

3.3

1-77

1.3

1.2

1.3

2.0

3.5

4.2

4.2

3.8

2.8

2.6

3.5

5.2

2-77

1.6

1.6

1.7

2.4

3.8

4.4

4.5

4.2

3.4

3.4

4.3

5.5

5.9

3-77

1.6

1.6

1.7

IS)
•

109.6

4.1

3.5

4.1

4.1

3.8

3.0

3.0

3.6

4.1

3.6

1.4

4-77

1.9

1.9

2.0

2.6

3.7

4.3

4.3

4.0

3.4

3.4

4.0

4.5

4.3

3.6

5.8

1-78

2.0

2.0

2.1

2.6

3.7

4.2

4.2

4.0

3.4

3.5

3.9

4.3

4.1

3.6

4.6

3.5

2-78

2.1

2.1

2.3

2.8

3.8

4.2

4.2

4.0

3.6

3.6

4.0

4.4

4.2

3.8

4.6

4.0

4.6

117.4

3-78

2.0

2.0

2.1

2.6 __3.5 __3.9

3.8

3.6

3.2 __ 2*1.__ 3.5

3.7

3.4

3.0

3.3

2.6

2.1

-0*3____ _______ 117.3

1-74

2-74

3-74

3-75

4-75

4-76

1-77

2-77

3-77

4-77

1-78




4-74

1-75

2-75

1-76

2-76

3-76

_______ 110.1
111.5
_______ 113.1
_______ 113.5
115.1
116.1

2-78

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

24

PRODUCTION AND PRICE INDICATORS
PRODUCTION OF SELECTED CROPS

1976

6 ,266,359
2,520
138,720
8,084
173,850
56,485

Percent Change
1977 to 1978

6,370,624
2,279
126,900
5,760
205,200
47,450

6,890,310
1,500
115,240
5,805
198,000
48,750

8.2
- 34.2
- 9.2
0.8
- 3.5
2.7

137,725
52,650
9,030
1,020

38.8
48.7
103.4
62.2

1,810,389
110,400
40,600
81,900
159,500
55,660

2.8
4.3
0.8
4.4
7.2
6.7

(1,000 CWT)

RICE
UNITED STATES
Arkansas
Mississippi
Missouri

115,648
40,362
6,048
588

UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

L , 287,560
82,080
28,890
71,500
84,000
40,500

J,135,829
497,401
139,668

10,517
776
1,151
165
228

1,912,417
452,024
136,746

14,277
1,035
1,645
235
255

1,559,923
24,570
10,230
3,480
58,080
11,100

1,526,713
25,740
10,138
3,570
60,450
10,080

November 1 forecast
September 1 forecast




2,007,858
453,788
149,465

5.0
0.4
9.3

10,896
650
1,350
185
220

-

23.7
37.2
17.9
21.3
13.7

1,243,685
11,200
6,825
2,635
28,560
7,700

-

18.5
56.5
32.7
26.2
52.8
23.6

(1,000 Bushels)

WINTER WHEAT **
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

-

(1,000 Bales)

UPLAND COTTON
UNITED STATES
Arkansas
Mississippi
Missouri
Tennessee

1,761,755
105,800
40,920
78,475
148,800
52,170
(1,000 Pounds)

TOBACCO
UNITED STATES
Kentucky
Tennessee

99,223
35,396
4,440
629
(1,000 Bushels)

SOYBEANS

*
**

1978 Indicated*

(1,000 Bushels)

CORN FOR GRAIN
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

1977

25

PRODUCTION AND PRICE INDICATORS

ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
INDEX:

1971-100
100

140
120
100

80
60

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

140
120
100
80
60
140
120
100

80
60

T E X T IL E , APPAREL, AND LEATHER
140
120
100

80
60
140
120
100

80
60
LATEST DATA PLOTTED: SEPTEMBER



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

26

PRODUCTION AND PRICE INDICATORS

ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
_________ INDEX: 1971-100_______

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INC SEPTEMBER 1978
FROM SAME
MONTHS A
YEAR A60

JULY
1978

AU6UST
1978

SEPTEMBER
__ 1978__

FROM PREVIOUS
3 MONTHS

124.6

125.2

126.5

12.0

3.5

119.8

116.9

116.8

4.2

0.1

119.2

116.1

116.3

2.4

0.3

DURABLES
ELECTRICAL MACHINERY
FABRICATED METALS
LUMBER AND FURNITURE
NONELECTRICAL MACHINERY
OTHER DURABLES
PRIMARY METALS
STONE, CLAY, AND GLASS
TRANSPORTATION EQUIPMENT

126.3
98.6
133.7
215.9
136.9
138.5
133.1
109.4
112.4

125.5
102.8
140.0
185.7
139.9
133.9
128.2
110.8
113.9

123.9
98.7
130. 1
203.5
139.8
140.0
129.6
102.7
114.8

-9.3
-1.6
-13.3
-3.3
38.2
3.3
-10. 1
-25.7
-4. 1

2.3
-2.9
-0.7
36.5
2.5
6.9
-1 . 1
5.9
-4.8

NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES AND
TOBACCO
PAPER AND P R IN T I N G
T E X T I L E , APPAREL, AND
LEATHER

116.3

112.3

113. 1

9.7

-0.5

114.1

110.4

110.8

11.5

-0.6

129.3
115.9

131.7
112.2

127.4
113.4

19.0
-9.9

5.5
-3.7

94.2

83.2

91.1

8.5

-7.3

158.8

170.3

148.7

144.4

-9.4

UNITED

STATES

TOTAL MANUFACTURING AND M IN IN G
EIGHTH

DISTRICT

TOTAL MANUFACTURING AND M IN IN G
M A N U F A C T U R IN G

MINING




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

27

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX:

1974-100

TOTAL B U IL D IN G

1974-100

1974-100
330
250
170
90
10

R E S ID E N T IA L B U IL D IN G




NONRESI DENT IAL B U IL D IN G

MISSISSIPPI

330
250
170
90
10
330
250
170
90
10

330
250
170
90
10

28

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX. 1974-100
2ND
QUARTER
1978 _
TOTAL

3RD
QUARTER
1978

COMPOUNDED ANNUAL
__ RATES OF CHANGE
3RD QTR 1977
3RD QTR 1978

3RD QTR
TO
3RD QTR 1977

B U IL D IN G

U N IT E D STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT S M IT H : A R-O K
L I T T L E ROCK-NORTH
L I T T L E R O C K : AR
P I N E B L U F F : AR
KENTUCKY
E V A N S V IL L E :
IN -K Y
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 - EAST
S T . L O U I S : M O - 1L
S P R I N G F I E L D : MO
TE N N E S S E E - WEST
M E M P H IS : T N -A R -M S

R E S ID E N T IA L

1 97.3
208.7
191.4
212.2
233.8

191.4
205.9
1 87.0
21 1.3
1 89.9

19.5
20.3
16.7
27.1
44.1

35. 1
52.1
4 2 .0
31 .6
7 7 .2

159.0
118.0
217.8
372.7
179.1
227.5
217.0
210.5
335.8
149.2
133.8

173.6
1 57.8
210.5
8 76.8
1 33.5
2 1 6.5
247.9
1 63.4
3 8 9.0
1 16.0
100.2

20.1
1 90.6
11.1
2 4 9 .3
-2 1 .0
3 0.3
3 0.4
-1 .1
3 9 .9
0 .3
-4 .0

7 .5
-4 9 .0
7 5 .5
1 4.4
9 3 .9
53 .9
56 .5
5 6 .9
4 1.0
19.3
7 .3

256.7
279.1
2 50 .2
3 0 6 .7
319.4

23 0.3
259.6
2 19 .2
271.4
266.3

15.8
28.1
21.2
2 4.8
4 4.6

43.3
4 8.5
29 .4
4 8.4
105.1

202.1
1 96.4
2 6 5 .2
5 05 .2
197.6
3 13.0
2 8 7 .4
269.9
4 5 6.6
2 12 .2
196.4

1 82.9
179.4
2 4 8.0
382.5
1 53.4
2 6 3 .8
29 6.6
2 50 .2
5 32.6
184.7
162.7

2 6 .6
5 7 .5
2 4.2
10.5
13.0
35.2
38.2
2 3 .9
5 0 .8
15.4
5 .8

1 8.8
-4 .4
6 1 .8
7 .4
3 0 .7
55 .4
29 .0
25.3
2 6 .7
4 1 .4
42.1

137.3
129.4
1 33.0
88 .8
74.1

152.1
145.5
1 55.0
1 32.8
48.1

2 5.5
7 .4
10.9
3 3 .7
4 0.2

23.2
5 8 .5
62 .4
-0 .4
-2 3 .6

9 7 .3
86 .3
161.7
2 20 .6
160.0
118.8
1 52.4
1 55.9
2 03.2
8 8 .8
8 0 .8

160.4
1 49.0
166. 1
1 ,4 4 3 .2
113.0
1 30.8
2 0 3.2
1 22.0
233.9
50.1
4 7.3

10.6
3 93.4
-6 .3
916.3
-4 4 .4
18.6
2 1 .3
-2 8 .3
18.6
-3 1 .5
-2 4 .3

-5 .4
-7 0 .2
9 8 .0
39 .9
1 92.0
5 0 .5
108.1
116.1
8 0 .0
-1 0 .2
-2 9 .1

B U IL D IN G

U N IT E D STATES
CMV S T A T E SUM M ARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT S M IT H : A R-O K
L IT T L E ROCK-NO RTH
L I T T L E R O C K : AR
P I N E B L U F F : AR
KENTUCKY
E V A N S V IL L E :
IN -K Y
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 - EAST
S T . L O U I S : M O - 1L
S P R I N G F I E L D : MO
TENN ES SEE - WEST
M E M P H IS : T N -A R -M S

N O N R E S ID E N TIA L

B U IL D IN G .

U N ITE D STATES
CMV S T A T E SUMMARY
CMV M E T R O P O L I T A N SUMMARY
ARKANSAS
FORT S M IT H : A R -O K
L IT T L E ROCK-NO RTH
L I T T L E R O C K : AR
P I N E B L U F F : AR
KENTUCKY
E V A N S V IL L E :
IN -K Y
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 - EAST
S T . L O U I S : M O - 1L
S P R I N G F I E L D : MO
TENN ES SEE - WEST
M E M P H IS : T N -A R -M S

*USED WITH THE PERMISSION OF D0D6E CONSTRUCTION
POTENTIALS, MC6RAW-HILL INFORMATION SYSTEMS COMPANY




PREPARED BY FEDERAL RESERVE BANK OF S

29

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
INDEX:

1971-100
1971-100
250

1971-100




190
130
70
10

250
190
130
70
10

30

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS ENDING SEPTEMBER 1978

__________INDEXi 1971 — 100_______
JULY
1978

UN ITED

STATES

AUGUST
1978

SEPTEMBER
1978

FROM SAME
MONTHS A

FROM PREVIOUS
__ 3 MONTHS

year aco

86.6

-20.9

-5.6

CMV S T A T E SUMMARY

69.4

78.0

82.0

13.6

-11.0

CMV M E T R O P O L I T A N SUMMARY

55.8

62.0

68.4

78.8

-2.5

126.5

133.9

-9.8
7.5

ARKANSAS
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR

71.8

74.4

40.7

54.4

00

86.4

CO
•
o

80.5

315.7

KENTU CKY
LOUISVILLE:

72.4
33.6

54.7
46.6

71.9
62.0

-27.3
-15.9

-14.5
-4.0

MISSISSIPPI

66.1

100.8

64.4

96.7

-4.5

M ISSO URI
ST . L O U I S : M O - 1L

74.8
87.4

86.0
88.1

93.5
82. 0

-13.4
40.5

-7.4
-3.4

TENNESSEE
MEMPHIS:

57.9
30.7

61.7

88.3
48.5

17.9
195.8

-14.6
0.5

KY-IN

TN -A R -M S

40.7

STATE SUMMARY-HOUSING PERMITS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

1971*100

___ INITIAL QUARTER______
1-74

2-74

3-76

6-76

1-75

2-75

3-75

6-75

1-76

2-76

3-76

6-76

1-77

2-77

3-77

4-77

1-78

2-78

2-74

-31.3

52.8

3-74

-48.8 -61.8

61.5

4-74

-56.8 -65.8 -69.3

30.9

1-75

-42.1 -45.3 -34.4

39.8

2-75

-20.9 -18.0

5.8

96.6 175.8

3-75

-11.6

-7.0

16.1

60.9 105.8

-7.7

10.1

51.5

55.6

16.8 -11.1

-11.5

53.5

68.2
66.8
89.6

1-76

-2.7

2.3

20.5

58.6

63.6

37.2

29.7

2-76

-7.1

-3.5

10.2

36.6

35.7

13.6

2.8

3-76

0.6

5.0

19.1

66.6

65.6

27.9

22.2

35.9

15.1 105.4

Vfl
*
•
o

4-75

33.6
63.3

39.7

37.1

52.8

62.2 111.2 117.2

56.9

10.5 -35.5

69.2
58.9
71.5

4-76

7.9

12.9

27.6

52.1

1-77

3.9

7.9

19.7

39.3

39.2

22.2

30.2

18.6

65.3

22.2 -31.3

2-77

9.1

13.4

25.1

66.0

66.5

33.3

30.6

39.2

30.9

56.3

42.7

15.7

94.7

3-77

11.9

16.2

27.5

65.1

65.6

35.7

33.6

61.6

36.9

56.3

46.0

27.9

74.5

4-77

8.1

11.6

21.2

35.9

35.6

26.3

23.6

28.8

21.9

35.5

24.7

8.5

26.4

1-78

2.7

5.5

13.6

25.6

26.3

15.6

12.4

15.3

8.6

16.7

6.2

-7.9

2-78

5.9

8.8

16.7

28.6

27.6

19.6

16.9

20.2

14.3

22.7

14.0

2.4

10.9

-3.6 -18.0

-8.8

74.2

76.1

3-78

6.3

9.1

16.5

27.3

26.5

19.1

16.6

19.6

1**2

21.7

14.0

3.9

11.4

-0.4 -11.0

-1*9

60.7

13.6_____________76.5

1-76

2-76

3-76

6-76

1-75

2-75

3-75

6-75

1-76

2-76

3-76

4-76

1-77

2-77

4-77

1-78

2-78




65.1
76.9
56.4

86.0

1.8 -33.7

77.6

-0.9 -20.9 -43.7 -52.3

3-77

66.5

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED
INDEX:

1971-100

, iw c c T n rk '

CORN

BEEF CATTLE

RICE

BROILERS

—

1 1 1

270

—

\

190

" x

J _I_L _

350

-

iilnlutn

ii

hi III,hi 111111i,i 111. i i h i l n l n n l i i l i i h x

1 l l n l l l . 1.11 11111111Li-i. i i l i i l n h i

190

30

TURKEYS

UPLAND COTTON
350
270 —

n ln h il.il. i i I h I h I i i

HOGS

SOYBEANS

—

-

—

-

-

350
270
190

190

110

110

30

270

110

110
30

350

1111111 f 111 1111 1ll 1111 11111111ll 1 11111111111 • ill ill ill 1
1978
19 7 6
19 7 7
19 7 5
1974
LATEST DATA PLOTTED: SEPTEMBER




1 111 111 111 1 1 111 1 11 1 11 1 1 1 11 111 11 1 1 1 1 11 111 1 11 1 1 11 1 111 11p 1

19 7 4

1975

19 7 6

19 7 7

19 7 8

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

32

30

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED
__________INDEXt 1971-100_______
JULY
1978

A L L FARM PR O D UCTS
A L L CROPS
CORN
R IC E
SOYBEANS
TOBACCO
UPLAND COTTON

L I V E S T O C K AND L I V E S T O C K
PR OD UCTS
BEEF CATTLE
BROILERS
HOGS
M IL K
TURKEYS

AU6UST
19T8

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INC SEPTEMBER 1978

SEPTEMBER FROM PREVIOUS
__ 1978
__ i. MONTHS

FROM SAME
MONTHS A
y e a r ac o

190.8

186.3

190.8

0.0

21.0

197.2

187.9

188.8

-11.4

17.3

170.4
178.9
217.4
176.2
231.6

157.7
159.1
211.3
181.5
232.0

156.2
142.5
210.6
194.5
229.1

-33.9
-51.0
-21.2
119.8
23.8

20.1
10.8
9.3
19.3
-7.7

184.6

184.6

192.2

9.5

23.8

171.8
238.4
252.2
172.0
190.7

168.4
194.1
265.0
178.8
195.7

178.0
194.1
265.6
185.6
198.5

3.3
3.5
0.0
19.8
38.0

43.8
16.4
9.7
7.9
26.1

PRICES—ALL FARM PRODUCTS
ANNU AL RA TE S OP C H A N G E

______________________________________________ C O M P O U N D E D
ter minal ____
QUARTER

____ I N I T I A L Q U A R T E R

_1=Z*_ .2=2*. 3-74
2-74

-41.6

3-74

-=ia»6

30.8

4-74

-6.3

18.7

4-74 -1-75

2-75

3—75

2-76

3-76

1 9 7 1 si o n

4-76

1-77

2-77

3-77

4-77

1-7 8

2-78

189.5

7.8

172.7

1-75

-13.5
-8.7

2.1

3-75

-3.4

6.9 __ L>6

4-75

-4.7

3,3

■l-7»

-4.6

2.3 -=1« 8

-3.6 — 1±2-.__2«J>- -8.2

2-76

-2.7

3.7

0.3

-0.9

3-76

,=3.tl

2.5

—0.6

4-76

-5.2

-0.5

-3*5

-4.8

1-77

-3.0

1.6

-0.9

-1.8

2.6

-=2*.3 _2-t-O

-0.3

-ItQ

3*2 _2.*.0

-1.4 -14.4 - 3 ? * Q
-6.0 -12t2

156.8

131*

-0*4

20.6

-1.* _ = 3 A 6

8.3

1 81 .8

28.3

172.2

5.9 -12*6

6.9

-1.8 __*g5_.

166.5

-3.6
4.7

13.7

2.8

0.7

2.9

-o.i -=2*2
1*3

-2.8
-7*4

-6.1

-2.6

-o.*

-2*6

— 3*5

0*1

-It*

“2*7

1-76

-it*

2tl

0*3

-2=2.6

1*0

*.5 _ _ X , Q

2*7

6,0

5.4

3,5 __

3—76

1*0

*»3 __2^8_

?.5

5.5

*.9

3,2

4,8

4-74

1-75

2-75

3-75

4-75

2-74

3-74




170.4

-6.9

167.4

-6.9 — 15,8 -23.8

-1.3 __ Gjl2_

-,-3*4

Q«5

165.0

5.3 — =1?*

4-77

..3-77 _=fL*J_ -o»*

1-74

1-76

158.5

2-75

2-77

4-75

156.4

0.4

-3.7

-2.1

25.7

1.6

-1.2

0.7

15.8

165.6

6.7

168.3

. -1.5

-4,7

-3,5

-3.5 _-6.6

-6.5

0.1 -10.7 -25.2

—0*7

-3.5

-2.2

-2.1

-4.5

-4.0

1.7

-0.3 -■AtH .2,1

-0.2 __ L*3___ L*9___ SL*2_

__

156.5

6.8

159.1

1.5

7.6

3.4

2.4

19.8

34.4

-- 5,4 __ 7.3

13.6

11.3

12.5

28.9

41.6

49.1

11.5 __9.3 __9.9

21.0

26.1

22.1

0.0

4-76

3-77

4-77

1-78

2-78

5.6 __
1-76

-5.2 -10.6

__ 6.3

2-76

3-76

1-77

2-77

171.3
189.3
189.3

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

33

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEXt 1974-100
1 9 7 4 -1 0 0
210
-

s

.s .

S U S A

170

TOTAL LOANS
11

,
'S ,

—

130
—

50

-l-llll l u L u

■ 1 1 1 1 1 1 1.1 1 1 1

1 1 ,1 1 1 1 1 1 1 1 1

111 i 1 11 11 1 1

1974

1975

1976

1977

Illlllllli-L

1978

IN -K Y

EVANSVILLE

210
—

—

170
130
90

. n l n l n l n l l J u l l i l l l - u l x i i i i i i i i i l i i l n l i i -i-i.il 111 tl 1A

50

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

L O U IS V IL L E : K Y - I N
210
—

—

170
130
90

n l i i l i i l n ■ n l n l n l n n l i i l i i l n n l n l n l n ■ n liiliiln .

50

MEMPHIS: TN-AR-MS
210
170
130
90
50

ST. LOUIS: M O -IL
210

170

—

130

—

-

—

-

-

170
130

_

90
50

210

90
■1111111111 n l i i l i i l n 11 1111 II 111 II 1II 1II 111 l l 111111111
1975
1974
1976
1977
1978
LATEST DATA PLOTTEDi SEPTEMBER




11 I 11 1II 1II II 1111111II n l n l n l n n l n l n l n n l n l n l n
1975
1977
1974
1976
1978
PREPARED BY FEDERAL RESERVE BAMK OF S T . LOUIS

34

50

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
----------INPeXt I g M - I Q P _______

IM A L

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC SEPTEMBER 1978
FROM SAME
MONTHS A
YEAR ACO

JULY
1978

AUGUST
1878

127.2
134.4
156.9
168.8

128.0
136.8
160.6
168.4

129.4
137.2
162.2
173.3

12.4
9.7
16.8
25.5

13.8
13.6
10.1
25.8

201.6
159.6

210.4
163.3

213.8
166.0

16.2
0.0

13.4
13.1

163.2
145.8
96.6
144.2
132.5
161.0
162.8

171.5
151.1
99.5
150.0
132.6
128.6
164.6

166.8
152.5
98.4
156.5
134.2
114.3
166.1

16.0
26.7
-20.8
25.8
19.1
-42.2
27.2

13.9
15.8
2.9
12.8
16.5
-9.2
21.6

129.2
131.9
161.2
160.6

129.5
131.6
161.1
161.8

131.1
133.8
161.1
163.9

10.1
5.6
13.7
20.9

9.9
8.5
14.2
14.0

171.2
158.5

173.4
160.6

175.7
166.8

10.6
6.2

10.8
11.6

151.3
150.2
111.8
143.0
120.7
151.8
157.8

149.6
150.8
111.8
146.2
121.6
118.3
156.2

152.7
154.8
112.0
149.1
124.1
109.3
159.4

6.0
21.8
-15.5
5.7
9.4
-47.9
12.3

8.8
14.7
2.7
12.2
7.6
-12.8
16.6

SEPTEMBER FROM PREVIOUS
1978
3 MONTHS

L OANS

UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA! MO
EVANSVILLE: IN -K Y
FA YETTEVILLE SPRIN6DALE: AR
FORT SMITH: AR
L IT T L E ROCK-NORTH
L IT T L E ROCK: AR
LO U IS V IL L E : K Y -IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: M O -IL
SPRINGFIELD: MO
TEXARKANA: AR
TOTAL DEPOSITS
UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN -K Y
FA YETTEVILLE SPRINCDALE: AR
FORT SMITH: AR
L IT T L E ROCK-NORTH
L IT T L E ROCK: AR
L O U IS V IL L E : K Y -IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LO UIS: M O -IL
SPRING FIELD: MO
TEXARKANA: AR

AVERAGE NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIG H TH D IS T R IC T ) w
METROPOLITAN SUMMARY*
NONMETROPOLI TAN SUMMARY
ARKANSAS
FA YETTEVILLESPRINGDALE: AR
FORT SMITH: AR
L IT T L E ROCK-NORTH
L IT T L E ROCK: AR
PINE BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
L O U IS V IL L E : K Y -IN
NONMETROPOLITAN AREAS
I L L I N O IS
NONMETROPOLITAN AREAS
INDIANA
EVANSVILLE: IN -K Y
NONMETROPOLITAN AREAS
M IS S IS S IP P I
NONMETROPOLITAN AREAS
MISSOURI
COLUMBIA: MO
ST. LOUIS: M O -IL
SPRINGFIELD: MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLI TAN AREAS

JULY
1978

AUGUST
1978

SEPTEMBER
1978

SEPTEMBI
1977

415.75
125.00
288.75
76.50

413.20
124.20
287.00
76.00

411.25
123.00
286.25
76.00

419.25
127.00
290.25
78.00

6.00
3.00

6.00
3.00

6.00
3.00

6.00
3.00

7.00
4.00
3.00
51.50
41.00
8.00
31.00
130.00
104.00
40.00
13.00
27.00
16.25
15.25
98.00
4.00
64.00
5.00
51.00
14.00
8.00
9.00

7.00
4.00
3.00
51.00
41.00
8.00
31.00
130.00
104.00
40.00
13.00
27.00
17.00
16.00
95.20
4.00
64.00
4.20
49.00
14.00
8.00
9.00

7.00
4.00
3.00
51.00
41.00
8.00
31.00
130.00
104.00
40.00
13.00
27.00
17.00
16.00
93.25
4.00
63.25
3.75
48.25
14.00
8.00
9.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
132.00
104.00
40.00
13.00
27.00
16.00
15.00
97.25
4.00
65.00
5.00
51.25
15.00
9.00
9.00

HE EXCLUDES BANKS IN TWO METROPOLITAN AREAS




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

p I N A N U IA L

I NU I I A I U lt5

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1 9 7 4 - 1 0 0

NONMETROPOLITAN ARKANSAS
210
170
130
90
50

NONMETROPOLITAN KENTUCKY
210
— 170

—

130
90
n ln h iiu - n l n l i i l n

llll 1,1.111-LL

nlnliiln nlnliiln

50

NONMETROPOLITAN M I S S I S S I P P I
210
170
130
90
50

r

NONMETROPOLITAN MISSOURI
—

___

_

210

170
130
90

ninli.ili.1 n l i i h t l i l n ln liiL u . n l n l i i l n n l n l i i l n

50

NONMETROPOLITAN TENNESSEE
210

—

170 —

—

130 _
—
90
11111111111 11111111111 11111111111
50 ■1111111111 11111111111
19 7 8
19 7 7
19 7 5
19 7 6
19 7 4
LATEST DATA PLOTTED: SEPTEMBER



-

_
11111111111 11111111111
1975
1974

1976

170
„ __ 130
90
11111111111 11111111111
50
1977
1978

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

36

210

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
_________ INDEX; 1974-100_______
JULY
1978
TOTAL

SEPTEMBER1 FROM PREVIOUS
____LSIfi___ . __ 3 MONTHS

FROM SAME
MONTHS A
ye ar AGO

LOANS

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

AU6UST
1978

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDIN6 SEPTEMBER 1078

161.7

163. 1

165.1

9.6

150.5
184.1
158.2
170.7
144.8
158.4
146.3

151.3
186.1
162.2
174.3
150.2
152.9
148.4

153.2
188.2
165.3
174.8
152.0
155.4
153.3

2.7
9.6
16.3
15.7
21.9
1.6
18.5

13.1
16.1
16.5
12.7
17.0
10.0
15.5

145. 1

145.3

146.6

3.1

9.3

136.9
152.5
139.3
155.8
145.9
145.8
136.8

136.9
152.9
140.8
157.9
149.2
140.2
137.5

137.6
154.3
142.9
159.6
151.3
141.5
140.8

-4.5
3.7
12.9
9.4
14.7
-5.9
18.0

8.0
9.4
8.5
9.6
16.5
6.2
13.3

14.1

DEPOSITS

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

MEMBER BANK DATA BY STATE
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING SEPTEMBER 1978

INDEX; 1974-100
JULY
1978

TO TA L LOANS
STATE SUMMARY
(E IG H T H D I S T R I C T )
ARKANSAS
IL L IN O IS
INDIAN A
KENTUCKY
M IS S I S S I P P I
MISSOURI
TENNESSEE
TO TA L D E P O S IT S .
STATE SUMMARY
(E IG H T H D IS T R IC T )
ARKANSAS
IL L IN O IS
INDIANA
KENTUCKY
M IS S I S S I P P I
MISSOURI
TENNESSEE




AUGUST
1978

SEPTEMBER FROM PREVIOUS
1978___
3 MONTHS__

FROM SAME
MONTHS A
YEAR AGO

142.0

144. 1

145.0

10.1

13.9

158.0
162.8
158.7
152.7
146.6
137.9
101.8

162.4
164.7
160. 1
157.8
152.0
135.7
104.6

162.7
165.6
164.0
159.6
153.6
137.0
104.4

10.3
8.7
21.0
26.4
22.3
14.0
-16.9

13.7
12.3
21.4
15.6
17.4
15.6
4.6

136.4

136.3

138.2

5.1

8.9

145.9
137.1
144.9
153.4
148.7
128.8
114.4

145.9
138.6
146.4
154.4
152.0
126.8
114.7

148.0
139.3
148.5
158.0
154.1
129.1
115.2

1.9
1.8
15.9
19.9
15.0
4.2
-11.0

9.4
4.1
11.7
13.2
17.5
9.1
3.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

FINANCIAL INDICATORS

SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED
IN D E X :

1 9 74-1 00

ARKANSAS

200 —

—

200

__

.

120

160

120
80

Ill1.ij t i l l l. iil-n li 1.1u .11 L i l.i i l l i -llLli L.i I




li

11111 111.1IX.

i l l n l n i l i ■Ll 11111111 1 1 1 1n 1i i 1n i i l nl i i l i i n 11 1 1n 1i i-

MISSOURI

38

240

T

—

_| J _L

M IS S IS S IP P I

240

160

80

FINANCIAL INDICATORS

SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING SEPTEMBER 1878

INDEX: 1974— 1QO

TOTAL SAVINGS
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT S M IT H : AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P IN E BLUFF: AR
KENTUCKY
L O U IS V IL L E : K Y - I N

MISSISSIPPI

MISSOURI
S T . L O U IS : M O - IL
S P R IN G F IE L D : MO
TENNESSEE
MEMPHIS: TN -A R -M S

MORTGAGE LOANS OUTSTANDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT S M IT H : AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
P IN E BLUFF: AR
KENTUCKY
L O U IS V IL L E : K Y - I N
M IS S I S S I P P I
MISSOURI
S T . L O U IS : M O - IL
S P R IN G F IE L D : MO
TENNESSEE
MEMPHIS: TN -A R -M S

FROM SAME
MONTHS A
YEAR AGO

JULY
1978

AUGUST
1978

SEPTEMBER
1978

FROM PREVIOUS
3 MONTHS

174.2
176.0
168.3
186.0
174.0

176.6
178.0
170.3
188.1
175.8

179.0
180.6
172.5
190.6
178.3

14.8
13.4
12.7
16.1
16.2

11.6
12.1
10.8
14.6
12.2

175.3
162.0
174.7
162.4
215.9
167.8
168.9
155.4
177.8
171.7

177.1
163.0
175.6
163.9
218.4
169.8
171.1
156.8
180. 1
174.4

178.7
164.3
177.6
166.3
221.5
171.9
173.4
157.4
182.6
176.8

15.9
9.9
10.7
11.2
11.1
12.4
12.6
3.9
15.3
16.4

11.3
10.8
11.9
9.2
13.0
10.6
10.7
15. 1
13.6
11.9

170.0
175.5
163.9
187.3
181.2

171.6
177.7
165.8
189.6
184. 1

173.3
179.7
167.5
191.2
185.5

11.5
13.7

15.3
16.2
14.5
15.6
12.6

170. 1
164.3
174.8
159.8
200. 1
167.7
163.2
163.3
179.4
164.0

172. 1
165.6
176.2
160.7
202.8
170. 1
165.5
164.2
181.1
165. 1

173.2
165.7
177.6
162.0
205.7
172.3
167.5
166.4
183.0
165.6

12.8
10.8

13.4

6.0
8.1
13.3
11.2
9.8
14.6
15.1
12.0

14.7
11.1

10.9
14.4
16.0
13.9
17.0
15.3
14.8
21.4
18.4
16.2

NUMBER OF SAVINGS AND LOAN ASSOCIATIONS
JULY

AUGUST
1978

SEPTEMBER
1978

SEPTEMBER
1977

4,059
74
4

4,058
74
4

4,055
75
4

4,069
71
4

7
3
105
12
60
112
51
5
97
6

7
3
105
12
60
112
55
5
97
6

7
3
105
12
60
112
55
5
97
6

1313.
UNITED STATES
ARKANSAS
FORT S M IT H : AR
L IT T L E ROCK-NORTH
L I T T L E ROCK: AR
P IN E BLUFF: AR
KENTUCKY
L O U IS V IL L E : K Y - I N

MISSISSIPPI

MISSOURI
S T . L O U IS : M O - IL
S P R IN G F IE L D : MO
TENNESSEE
MEMPHIS: TN -A R -M S




7
3
102
12
58
112
55
5
90
4
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

39

POPULATION
Bureau of the Census

1970

1975

Compounded Annual
Rates of Change
1970
1960
to
to
1970
1975

203,305,000

213,051,000

.9

1.3

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: AR-OK
Little Rock-North
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
- .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




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