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■ismcV

URAL MiSSiSSiPPi VALLEY
•NOMiC 'INDICATORS

Prepared by Federal Reserve Bank of St. Louis

4TH QUARTER 1978




Released. F e b ru a ry

1979

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. Car registrations for Kentucky are estimated for the
period from February to September 1978. U.S. passenger car sales are from
the U.S. Department of Conmerce. 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
menfeer 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
The Central Mississippi Valley (CMV) economy continued to advance In 1978, but at
a more moderate rate than a year earlier. Some slowing was noticeable in retail sales,
manufacturing employment, and housing construction.
Retail sales, as measured by department store sales in six CMV metropolitan areas
and automobile registrations in five CMV states, exhibited a slower growth pattern in 1978.
In the period from September-November 1977 to September-November 1978, department store
sales increased only 5 percent and automobile registrations advanced 1 percent, compared
with the previous year when both department store sales and automobile registrations
increased about 17 percent.
Continued payroll employment gains occurred in 1978, indicative of further
increases in production. Payroll employment in five CMV states and eight metropolitan
areas rose about 3 percent from fourth quarter 1977 to fourth quarter 1978, a substantial
gain for this stage of the business expansion. Nevertheless, the gain was below the very
rapid 4.1 percent increase in the United States as a whole, and below the 4.5 percent
increase last year in the CMV states. Payroll employment has grown more slowly in the CMV
than in the United States primarily because of slower manufacturing employment growth.
Manufacturing employment grew only 1.4 percent in the CMV last year compared with a 3.6
percent increase in the United States. Nonmanufacturing employment, which accounts for
nearly three-fourths of payroll employment in the CMV, advanced 3.7 percent last year, only
slightly below the 4.3 percent increase in the nation as a whole.
Employment growth in most of the leading CMV manufacturing industries decelerated
sharply last year as shown in the table below. Employment growth in each of these
industries, except food, slowed relative to growth in the same industries in the nation.
MANUFACTURING EMPLOYMENT IN LEADING INDUSTRIES IN THE FIVE CMV STATES
(Annual Rates of Change)
Fourth Quarter 1977
to
Fourth Quarter 1978

Fourth Quarter 1975
to
Fourth Quarter 1977

Five CMV
States

United
States

Five CMV
States •

United
States

Chemical, Petroleum, and
Rubber Products

0.7

2.9

3.9

4.2

Electrical Equipment

2.8

5.1

7.9

5.4

Food and Kindred Products

1.1

-0.1

2.6

0.5

Lumber and Furniture

0.9

1.9

6.2

6.9

-1.9

-0.9

0.5

0.2

Textiles, Apparel, and
Leather

Overall construction activity continued at a high level in the CMV during 1978,
although housing construction declined somewhat. Housing permits issued in the fourth
quarter of 1978 were down about 5 percent from a year earlier, about the same percent
decline as for the United States. A 7.6 percent increase occurred in construction
employment in the five CMV states last year.
Loan volume at all Eighth District member banks increased 13.5 percent in 1978,
nearly the same as in 1977. Mortgage loans at savings and loan associations in the five
CMV states advanced about 15 percent in 1978, somewhat below the 19 percent registered in
1977.




3

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100




1971-100

ARKANSAS

KENTUCKY
240
200

160
120

80

TENNESSEE

4

P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T .

LO U IS

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
______ RATES OF CHANCE

INDEXt 1971-100
2ND
QUARTER
1978

3RD
QUARTER
1978

UNITED STATES

196.0

201.7

12.1

12.1

CMV STATE SUMMARY

205.0

210.2

10.5

11.7

ARKANSAS

225.9

233.3

13.7

13.2

KENTUCKY

213.4

219.7

12.3

13.8

MISSISSIPPI

212.7

219.7

13.8

«
CM

2ND QTR 1978
TO
3RD OTR 1978

3RD OTR 1977
TO
3RD QTR 1978

MISSOURI

190.3

194.2

8.5

9.8

TENNESSEE

205.8

210.1

8.7

11.3

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

INITIAL QUARTER
1-74

2-74

2-74

11*6

3-74

11.6

11.6

4-74

9.4

8.3

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
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

15.5

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

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

142.7
147.5
152.9
156.7 .
161.5
164.4
167.7
172.9

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

19,7

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

1—78

10.2

10.2

10.1

10.4

11.3

11.1

10 .6

10.7

10.4

10.9

11.3

11.0

10.9

10.0

9.5

5.2

2-78

10.7

10.6

10.5

10.9

11.8

11.6. 11*3

11.3

Uf2

11.7

12.2

12.0

12.2

11.8

12.1

11.2

17.5

3-78

IO»T

10.6

10.5

10.9

11.7

11.5 . 11.2

11.3

ll.l

n.s

12.0

u»>

11.9

11.6

11.7

11.0

14.0

10.5_____

1-74

2-74

3-74

4-74

1-75

2-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77

4-77

1-78

2-78




3-75

177.5
183.3
188.2
13.8

194.4
196.9
205.0

INITIAL QUARTER

P R E P A R E D B Y F E O E R A L R E S E R V E BA NK O F S T .

5

LO U IS

210.2

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEX* 1971-100
1971-100
950
270

1971-100
350

1
- u . s . ___ _
_SMSA' S _____

—

190

270
190

-

-

UO

30

. . 1. . 1 . . 1 . .
1972

. . 1.. 1. . 1..
1973

.. i .. i .. i ..
1974

L I T T L E

350
270
190

ROCK

-

■i 1 i i 1 i a 1 i i
1975
NORTH

.. i .. i .. i ..
1976

L I T T L E

a a 1 a a 1 ■a 1 a a a a 1 a a 1 a a 1 a a
1977
1978

R O C K :

AR

350
270
190

—

110

30

110
~ d .n l.i..l,ii

J i l l l.l-i-1.1 1 I.

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

1.1.1 1 1 1 1-1 l i . l .

30

—

—

—

—

350
270
190

L O U I S V I L L E :

K Y - I N

S P R I N G F I E L D :

350
270
190

MO

110

30

30

110
1972

aa1 i a1 aa1 i a aa1 aa 1 aa1 aa a a1 aa1 aa1 aa aa 1 aa1 aa1 aa a a1 a a1 . . 1 . a aa1 aa1 aa1 aa
1973
1974
1975
1976
1977
1978

LATEST DATA PLOTTED. NOVEMBER



P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T .

LO U IS

30

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
__________ INDEXt 1971-100________

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING NOVEMBER 197S
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR ACO

SEPTEMBER
1978

OCTOBER
1978

NOVEMBER
1978

UNITED STATES

187.7

186.2

190.5

4.8

8.0

CMV METROPOLITAN SUMMARY

182.4

182.1

184.7

3.3

4.7

277.0

288.1

295.5

-2.5

3.1

286.3
166.6
169.2
175.7
198.3

280.9
173.0
171.1
172.0
201.4

294.1
173.6
168.3
174.5
216.4

1.1

2.8
6.3
3.4
4.6

FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: K Y - 1N
MEMPHIS: TN-AR-MS
ST. LOUIS: M O - 1L
SPRINGFIELD: MO

5.8
-0.7
2.3
9.7

8.4

3K DATA NOT COMPARABLE, SEE INCOME AND TRADE INDICATORS, PAGE 2

U.S. DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER
2—74

INITIAL QUARTER
1-74

2-74

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

5.2

128.1

3-74

3.2

1.3

4-74

-0.4

-3.1

-7.3

128.5
126.1

1-75

0.8

—0.6

-1.6

4.5

2-75

4.7

4.5

5.6

12.8

21.6

3-75

5.3

5.3

6.3

11.3

14.8

4-75

5.3

5.3

6.2

9.8

11.7

7.0

5.7

1-74

5.9

6.1

6.9

10.0

11.4

8.1

8.1

10.5

127.5
133.9
8.3

136.6
138.5
142.0

2-76

5.6

5.6

6.3

8.7

9.6

6.7

6.2

6.5

2.6

3-76

6.1

6.2

6.9

9.1

9.9

7.6

7.5

8.1

6.9

11.4

142.9

4-76

7.2

7.4

8.1

10.2

11.1

9.4

9.6

10.6

10.7

14.9

146.8
18.6

153.2
155.5

1-77

7.1

7.3

7.9

9.8

10.4

8.9

9.0

9.7

9.5

11.9

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

3-77

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

4-77

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

1-78

8.6

8.9

9.4

10.8

11.4

10.5

10.7

11.3

11.4

12.7

12.9

11.8

13.3

15.0

9.7

-9.8

2-78

9.3

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

3-78

9.0

9.2

9.7

10.9

11.4

10.7

10.9

11.3

11.4

12.5

12.6

11^3

12.7

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




6.1

158.7

2-77

168.2
180.8
176.2
20.0

1 8 4 .4

10.6 __3.9

11.6 __3.7_____ _______ 186.1

3-77

1-78

4-77

2-78

INITIAL QUARTER

P R E P A R E D B Y F E D E R A L R E S E R V E BA N K O F S T .

7

LO U IS

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS11
SEASONALLY ADJUSTED
INDEXt 1974-100
1974-100




1974-100
225
175
125
75
25

KENTUCKY

225
175
125
75
25
225
175
125
75
25
225
175
125
75
25
225
175
125
75
25

8

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS11
SEASONALLY ADJUSTED
__________ INDEX. 1974-100________

IMPORTED
DOMESTICALLY PRODUCED

CMV STATE SUMMARY
ARKANSAS
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

SEPTEMBER
1978

OCTOBER
1978

NOVEMBER
1978

122.0

125.4

124.3

-19.2

135.7
119.5

135.7
123.5

142.9
120.8

-20.4

-3.4
3.1

118.7

118.4

129.1

10.1

1.0

121.8
116.2
156.6
109.7
107.1

118.5
125.2
122.1
137.0
112.3

123.6
179.6
155.2
105.2
106.0

13.2
113.9
58.4
9.0
-71.0

8.1
5.2
25.7
10.9
-18.5

i
o>
•

UNITED STATES U.

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

2.8

U.USED WITH THE PERMISSION OF R. L. POLK AND COMPANY
I2.NEW PASSENGER CAR RETAIL SALES




P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T .

9

LO U IS

INCOME AND TRADE INDICATORS

FARM CASH RECEIPTS
SEASONALLY ADJUSTED
INDEX*

1971-100
19 71-100
360

1971-100
360 --------------------1
____
- u.s.
STATES ____
280

280
A.

200

A. A

.. 1.. 1.. 1..
1972

120
.. 1.. 1.. 1..
1973

1 1 1 11 11 11 11 .. 1.. 1.. 1..
1975
1974

111

200

»— 200

.. i .. i .. i ..
1976

i i 1 i i 111 1 i i 11 1 l 11 111 1 1
1977
1978

ARKANSAS

360
280

J*

Nr

\ rj

120 — _
40

A v / - - "

^

- AW

360

-_,A A

A > r \ -\

280

200
120

120
40

40

111■1.1.1111I.1 111111111i 1 111l.l.t.I.L.ll-l. ■.i■■i■■i■■ 11111Lii.1j.x. ii1it1ii1,ii 11111.111111




KENTUCKY

40
360
280

200
120
40

MISSOURI

360
280
200
120
40

10

INCOME AND TRADE INDICATORS

FARM CASH RECEIPTS
SEASONALLY ADJUSTED
__________ INDEXt 1971-100________

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC NOVEMBER 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

SEPTEMBER
1978

OCTOBER
1978

NOVEMBER
1978

UNITEO STATES

203.8

219.6

218.0

37.1

16.1

CMV STATE SUMMARY

219.8

232.6

198.1

11.0

10.2

ARKANSAS

274.2

252.1

186.3

-8.4

0.5

KENTUCKY

245.1

192.0

258.0

40.0

11.7

MISSISSIPPI

237.6

180.4

145.3

-55.9

2.7

MISSOURI

210.5

238.5

224.2

170.4

20.7

TENNESSEE

212.3

285.0

229.6

65.7

27.9

STATE SUMMARY—FARM CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER
*-73
1-7*
2-7*
_____3-7*
*—7*
1-75

INITIAL QUARTER
1-7*

2-7*

3-7*

*—7*

1-75

2-75

3-75

*-75

1-76

2-76

1971*100
3-76

*-76

1-77

2-77

3-77

*-77

1-78

2-78

22.9

173.0

-12.8 -38.2

153.*

-12.2 -25.8 -11.0
*•1

-1.5

2*.3

1*9.0
73.5

171.0

-12.3 -19.* -11.9 -12.3 -55.7

139.5

2-75

-0.*

-*.5

6.5

13.1

-8.7

88.2

3-75

6.3

3.8

15.1

22.8

9.*

71.9

57.0

*-75

-2.2

-5.*

1.6

*•3

-8.1

17.2

-7.6 —*5.6

1-76

2.9

0.7

8.0

11.5

2.1

25.7

9.9

-8.0

55.*

2-76

7.1

5.*

12.7

16.6

9.1

30.7

19.3

8.8

53.9

163.*
182.9
157.1
175.*
52.5

19*.9

3-76

0.5

-1.5

3.7

5.7

-1.5

12.6

1.6

-8.9

8.1

-9.8 —*6.6

*-76

2.9

1.3

6.*

8.5

2.3

15.3

6.3

-1.7

1*.0

2.8 -15.6

33.6

1-77

*.8

3.*

8.*

10.6

5.2

17.2

9.5

3.1

17.2

9.2

-2.3

32.1

2-77

2.9

1.5

5.8

7.5

2.5

12.5

5.5

-0.3

10.2

2.9

-6.7

12.3

3.0 -18.8

3-77

2.3

1.0

*.9

6.3

1.7

10.5

*.2

-1.0

7.8

1.*

-6.5

7.5

0.0 -12.5

*-77

*•5

3.3

7.2

8.7

*•6

13.1

7.5

3.0

11.6

6.*

0.2

13.7

9.2

2.9

15.8

*2.3

195.6

1-76

8.6

7.8

11.8

13.7

10.0

18.7

13.8

10.2

19.2

15.*

10.9

25.2

23.6

21.9

39.5

69.8 102.7

233.*

2-78

6.6

5.7

9.*

10.9

7.*

15.0

10.3

6.8

i*.3

10.5

6.1

17.0

1*.5

11.5

20.7

31.1

25.8 -21.9

219.*

3-78

6.0

5.2

8.5

9.9

6.6

13.5

9.1

5.9

12.5

8.9

*.9

l*.l

11.6

.
CD

15.2

21.2

1*.8 -13.6

-*.3

*-73

1-7*

2-7*

3-7*

*— 7*

1-75

2-75

3-75

*-75

1-76

2-76

3-76

*-76

1-77

2-77

3-77

*-77

2-78




166.6
179.1
30.7

191.5
181.8
-5.8

179.1

1-78

____217.0

INITIAL QUARTER

P R E P A R E O B Y F E D E R A L R E S E R V E BA NK O F S T .

LO U IS

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100




1971-100
135
125
115
105
95

KENTUCKY

12

135
125
115
105
95

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEXi 1971" IOO________
OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

121.0
118.7
114.5
120.9
127.7

121.2
119.4
114.8
123.0
127.7

126.4
113.4
124.1
121.1
116.8
122.2
114.0
111.6
133.6
117.8
107.3

128.1
114.6

120.4
UNITED STATES
CMV STATE SUMMARY
117.8
113.7
CMV METROPOLITAN SUMMARY
120.3
ARKANSAS
125.4
FORT SMITHi AR-OK
LITTLE ROCK-NORTH
125.5
LITTLE ROCKi AR
112.9
PINE BLUFF: AR
KENTUCKY
125.4
EVANSVILLE: IN-KY
120.4
116.0
LOUISVILLE: KY-IN
120.2
MISSISSIPPI
115.6
MISSOURI
110.9
ST. LOUIS: MO-1L
132.0
SPRINGFIELD: MO
116.2
TENNESSEE
106.7
MEMPHIS: TN-AR
* 19TB DATA NOT COMPARABLE VITH PREVIOUS OATA

COMPOUNDED ANNUAL
RATES OF CHANCE
5 MONTHS END INC DECEMBER I97S
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR ACO
5 MONTHS
3.9
1.4
*
-1.7
0.9

4.1
5.9
5.0

-1.0
-1.3

-4.3
-3.8
-0.3
4.4
3.2
9.7
3.6
4.8
8.5

124.6
121.5
116.5
123.8
114.3
111.8
133.3
117.5
106.8

-1.9
-2.3
0.8
3.2
3.6
0.0
2.5

S

3.7
2.6
0.8

14.1
10.4

STATE SUMMARY-TOTAL EMPLOYMENT
_____________________________________________ COMPOUNDED ANNUAL RATES OF CHANGE______________________________________________________
TERMINAL
QUARTER

1971*100

INITIAL QUARTER
1-74

2-74

2-74

4.1

3-74

2.2

0.4

4-74

-0.4

-2.9

1-75

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

3-78
110.1
110.2

-6.0

108.5

-3.0

-5.3

-8.0

-9.9

2- 7?__ -2.7

-».+

-5.9

-5.9

-1.5_________________________________________________________________________________________________ 105.3

3- 75__ -1.5

-2.6

-3.3

-2.3

1.7

5.0__________________________________________________________________________________________ 106.6

4-75

-0.4

-1.1

-1.4

-0.2

3.3

5.8

6.5

1-76

0.5

0.1

0.0

1.3

4.3

4.3

6.9

7.2

2-76

0.8

0.4

0.4

1.5

4.0

5.4

5.5

5.0

2.9

3-76

0.7

0.3

0.3

1.2

3.2

4.2

3.9

3.1

1.1

4-76

0.9

0.6

0.6

1.5

3.3

4.1

3.9

3.2

1.9

1.4

3.7

1-77

1.4

1.2

1.3

2.1

3.8

4.5

4.5

4.0

3.3

3.4

5.5

7.3

2-77

1.8

1.6

1.7

2.5

4.0

4.7

4.7

4.4

3.8

4.1

5.7

6.7

3-77

1.7

1.5

1.6

2.3

3.6

4.2

4.1

3.8

3.2

3.3

4.3

----- 4-7?

1*9

.Ail...- 4 * 3

4»P

3t?

U?

108.3
110.2
111.0
-0.7

.M

110.6
111.8
113.8
6.1
3.2

115.5
0.3

-AtS... - A L L - 3 . L

115.6
___ 2*2________________________________ 117,1

1-79____ 2*0___ Isi___ 1*9___J*6___1*T_________ 4*1___2*!___2*4___ 2*2___4*2___4*2___ 2*4__ £ * £ ___4*S___ 2*2__________________________117.9
2-72

1»«___ 1*2___L*7___2*a___3*a___3*2___2*4___3.6

2.9

2.9___ 3±S___ 2*4___ 2.7

1.0

2.3

0.9

-1.0___________________ 117.6

3-78

1.6

1.4

1,5

2.0

2.9

3.3

3.2

2.8

2.4

2.4

2.8

2.6

1.9

1.0

1.2

-0.1

-1.5

4-78

1.8

U1

1.8

2.3

3.1

3.5

3.4

3.1

2.7

2.7

3.1

3.0

2.4

1,8

2,1 __1,4

0.9

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

-2.0

117.0

1.9___5.9______ 118.7
2-78

3-78

INITIAL QUARTER

P R E P A R E D BY F E D E R A L R E S E R V E BANK O F S T .

13

LO U IS

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT

PERCENT

12
9

6
3

0
12
9

6
3
0

MISSOURI

12

—

—

9

6
3

T i-U.i..b iJ-t-i- ■■i ■■i ■■i ■■ ■i l l , l u l u -




1. 1.-til . 1. 1- . . I i . I m

I m . . 1. . 1. .

1.1

■. 1. .

1. . 1■"

0
12
9

6
3

0

14

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT

OCTOBER

NOVEMBER

DECEMBER

DECEMBER

SEPTEMBER

5.8
6.1
5.6
7.9
9.3

5.8
6.0
5.7
8.5
10.9

5.9
5.7
5.4
7.6
9.9

5.8
5.9
5.6
8.0
10.0

6.0
6.1
5.8
6.7
7.2

6.3

5.7
8.5
5.1
6.9
4.8
7.0
4.6
5.0
4. 1

6.0
8.9
5.2
5.9
5.1
7.2
4.8
5.1
4.3
6.3
6.2

5.1
7.2
5.3
5.6
5.3
7.9
5.2
5.8
4.3
6.4
6.1

1978

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR

EVANSVILLE: IN-KY
LOUISVILLE: KY-IN

MISSISSIPPI
MISSOURI

ST. LOUIS: MO-1L
SPRINGFIELD: MO

TENNESSEE

MEMPHIS: TN-AR

1978

1978

5.9
9.3
5.3
5.1
5.3
7.6
4.8
5.2
4.3
6.6
6.6

KENTUCKY

MONTHLY AVERAGE
3 MONTHS ENDING

8.8

5.1
5.6
5.1
7.0
4.9
5.3
4.4
6.3
6.3

6.1

5.7

1978

1978

C I V I L I A N LABOR FORCE
SEASONALLY ADJUSTED
THOUSANDS OF PERSONS
OCTOBER
1978

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY

NOVEMBER
1978

DECEMBER
1978

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 1
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR AGO
3 MONTHS

101,076.9
7,669.2
2,403.3
924.0
82.5

101,628.0
7,720.1
2,423.4
934.7
85.4

101,866.9
7,737.0
2,421.0
941.3
84.5

3.1
5.0
4. 1
4.9
11.7

3.0
1.4
*
-0.1
4.6

175.7
36.0
1,558.3
138.1
417.5
964.7
2,245.1
1,070.7
100.8

177.6
36.0
1,563.1
139.7
419.6
975.4
2,255.2
1,078.9
102.1

179.0
36.2
1,570.9
142. 1
417.0
987.3
2,253.6
1,077.1
101.6

-0.9
3.4
-1.0
5.9
2.1
6.4
1.5
1.8
8.3

-0.4
1.7
1.3
4.4
3.5
-0.5

1,971.7
1,994.1
382.9
384.0
* 1971 OATA NOT COMPARABLE WITH PREVIOUS OATA

1,984.2
379.6

13.7
11.1

3.1
1.2

ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR

KENTUCKY

EVANSVILLE: IN-KY
LOUISVILLE: KY-IN

MISSISSIPPI
MISSOURI

ST. LOUIS: MO-1L
SPRINGFIELD: MO

TENNESSEE

MEMPHIS: TN-AR




P R E P A R E O B Y F E D E R A L R E S E R V E BANK O F S T .

15

1.5

K

2.8

LO U IS

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED
HOURS PER WEEK

DOLLARS PER HOUR

KENTUCKY

8

48

—

6 —

44

4

t

0 ■II1111111II

u

~

- 36

-iiLi.il ulu n 1n 1n in ulnlnlu 1l l l i l i l l l L n 1i i 1i i 1i7 ! 0

IiiLli-Lu .1ill ill ill I.iilulnln nliUi-iJi-L

MISSISSIPPI

8

48

—

6 —

44
40

-T V

4
2

1

w

2

40

—

36

iiUilnln ■111lllllll! Illllllllll 1tlII1II1II ulnlii.ii/* 0

0 iilull ilii Ill IIlull! Illllllllll lllllll tin uli diilij-

-------—

—

>

—

>i 1 1 -

MISSOURI
4

--- ^

0 nlulnLu nlnlulii iilnlulu. illllllllll Li1II1-1111.L

40

lllllll,iiil iilulnln ill11 111 1n uliilnln iiliilii-liTZg 0

TENNESSEE

8
—

48
44

—

40

4
/—

2

0

44

36

2

6

48

i i i n i i i i i i

I l l l l l l l l l l

1974

1975

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 l l l l l l l l

l l l l l l l till

I l l l l l l l l l l

I l l l l l l l l l l

1976

1977

1978

1974

1975

1976

1977

L A T E S T DATA P L O T T E D *



DECEM BER

"

1978

P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T .

16

LO U IS

36

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
_________ DOLLARS PER HOUR________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHt AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

6.32
5.62
6.80

6.38
5.70
6.91
4.92
4.99

6.43
5.71

4.85
4.93

5.61
6.12

5.52
6.12
6.44
7.27
4.65
6.37
7.27
5.52

6.51
7.34
4.69
6.55
7.40
5.57
5.27
6.10

5.23
5.95

6.93
4.88
5.11
5.59
6.29
6.60
7.39
4.68
6.53
7.35
5.63
5.31
6.14

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS ENDING DECEMBER 1978
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR AGO
3 MONTHS
9.0
9.6
8.8

11.2
13.6
12.6
8.1
7.0

10.3
8.1

1.8
11•6
15.0
14.7
5.2
20.9
13.4
7.5
10.2
10.1

9.9
19.6
11.3
9.4
9.5
8.2
7.9
10.3
9.1
10.1

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

__________ HOURS PER WEEK

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR




OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

DECEMBER
1978

SEPTEMBER
1978

40.5
39.9
40.4
39.2
38.5

40.7
40.2
40.7
39.8
39.7

40.7
40.2
40.7
39.9
38.8

40.6
40.1
40.6
39.6
39.0

40.4
39.7

40.0
42.4
39.8
40.2
39.7
39.9
41.1
38.4

40.9
41.4
39.9
39.6
40.2
40.6
41.2
39.3
40.3
40.5

39.2
42.1
40.3
40.2
40.1
40.5
41.5
40.1

40.0
42.0
40.0
40.0
40.0
40.3
41.3
39.3
40.3
40.0

39.1
42.9
39.2
40.5
39.9
39.4
40.5
39.2
40.2
40.0

40.3
39.6

40.3
40.0

40.3
39.7
38.3

P R E P A R E D B Y F E D E R A L R E S E R V E BANK O F S T .

17

LO U IS

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED

INDUSTRIES*

SEASONALLY ADJUSTED
INDEXt 1 9 7 2 - 1 0 0

1972-100
140

120

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS
1

1972-10 0
140

u.s.
_____
STATES

120
100

100

80

80
60

I j.L> i-Lt-j-Li j- i i 1i i 1i i 1i i ■ i l l . I m I m




1L

11 l l

11

[1J

■ ■ i ■ ■ i . ■ i ■.

CONSTRUCTION

18

1J 1 11 1 11 1 1 1

1 J-ll-L.1 1 ± A 1 -L-

60

PAYROLL EMPLOYMENT - SELECTED

EMPLOYMENT INDICATORS

INDUSTRIES*

SEASONALLY ADJUSTED
__________ INDEXi 1972-100________

UNITED STATES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
CMV STATE SUMMARY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
ARKANSAS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
KENTUCKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
TEXTILE, APPAREL, AND
LEATHER
MISSISSIPPI
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
MISSOURI
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

COMPOUNDED ANNUAL
RATES OF CHANGE
5 MONTHS ENDING DECEMBER 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

111.8
111.7
109.6
95.5
101.9

112.5
112.3
110.3
97.0
103.1

113.1
113.0
110.7
97.9
103.7

4.0
5.9
4.9
3.8
6.0

2.9
11.1
5.1
-0.1
1.9

92.5

92.5

92.7

0.4

-0.9

115.1
115.0
107.0
105.9
98.3

113.6
116.9
108.1
105.6
99.2

115.0
118.4
109.5
106.3
100.3

-2.8
9.0

0.7
7.6

3.1
13.5

1.1
0.9

SI.8

93.1

93.1

-2.1

-1.9

114.2
125.8
114.8
93.3
134.1

116.6
130.5
117.4
93.9
132.8

118.5
T32.0
117.8
94.6
133.1

11.4

1.7
4.8
-0.6

4.0
2.0
1.5
-0.7
6.3

91.9

92.0

89.0

-7.9

-6.7

129.6
129.8
89.1
98.4
131.9

130.4
131.1
90.4
97.0
133.3

133.1
127.8
91.8
98.6
136.4

2.5
-0.9
-13.0

-1.6
22.0

3.0
9.9
0.4
0.3
7.9

92.0

93.4

91.5

-3.0

-2.2

118.8
134.0
117.1

124.1
133.7
118.9
103.8

8.0

102.8

119.3
132.6
118.7
103.3

-2.4
7.8

3.0
2.9
7.4

96.9
116.9

96.4
115.7

96.9
124.9

-3.2
9.6

-5.8
-14.6

109.4
103.7
94.0
99.6

109.8
103.6
94.0

109.4
104.9
95.0
99.5

3.0
2.7
3.5

3.2
2.7
-1.4

86.4

85.8
113.0

-5.8
26.1

0.9
5.1

109.1

-4.3

111.7
101.4
112.7

109.7
115.1
111.7
103.3

111.8

0.7
25.4
1.4

0.9
13.6
0.9

122.9

124.5

0.7

101.0

86.0

111.6

111.5

108.2
109.3
113.5
100.4
112.9

112.0

119.2

0.0

-6.8

11.6

1.2

20.0

2.8

2.6

1.1

2.2
2.2

-0.3

XALL 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

1972-100
150
130

1972-100
150

1i

- u.s.
STATES ,

130

—

110

no

90

90

70

j il 1 1 1n 1n n l n l n l n n l n l n l n ,lji.U,lnl.LL -U.LnLll.ia.

1974

1975

1976

1977

ARKANSAS

150

—

i 1 i

110

1 1 1i

130

70

1978

—

130
110

90
70

150

90
■111 11.11 1111i.

ii

L




i

I i i L l l ■l i 1 i .lL . i 111 II 1111 II 1II

nlnlnln.

■uJuliiln

KENTUCKY

nlnlnln

nlnlnln. n ln ln ln

n ln ln ln

70
150
130
110

90
70

20

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX. 1972-100________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF: AR

KENTUCKY

EVANSVILLE. IN-KY
LOUISVILLE. KY-IN

MISSISSIPPI
MISSOURI

ST. LOUIS. MO-1L
SPRINGFIELD. MO

TENNESSEE

MEMPHIS. TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 197S
FROM SAME
MONTHS A
FROM PREVIOUS
3 MONTHS
YEAR AGO

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

106.5
106.9
99.8
114.5
123.0

107.6
107.7
99.6
116.0
126.6

108.1
108.7
100.9
116.9
130.7

5.4
5.0
5.4
1.4
5.2

3.6
1.4
1.8
0.5
4.3

106.2
106.1
109.8
101.6
101.1
111.7
101.0
97.0
97.1
105.9
101.7

106.0
106.6
109.7
101.3
98.1
111.8
101.7
97.5
99.5
107.1
101.3

106.2
105.4
112.0
102.8
98.3
112.9
102.3
97.8
96.7
107.9
101.2

-1 .9
8.8
8.4
2.8
14.0
3.6
7.0
6.0
6.8
3.1
-2.7

-3.4
-3.2
3.9
2.4
1.0
-0.5
1.8
2.5
-0.2
0.9
2.8

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX. 1972" 100________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF. AR

KENTUCKY

EVANSVILLE. IN-KY
LOUISVILLE. KY-IN

MISSISSIPPI
MISSOURI

ST. LOUIS. MO-1L
SPRINGFIELD. MO

TENNESSEE

MEMPHIS. TN-AR




COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER IGTS
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR ACO
3 MONTHS

OCTOBER
1978

NOVEMBER
1978

DECEMBER
_ 1878

121.3
123.0
117.5
129.5
128.0

121.8
123.2
117.8
129.5
128.5

122.0
123.7
118.2
130.4
129.5

3.0
4.3
4.2
4. 1
6. 1

4.3
3.7
3.3
4.0
4.5

124.9
118.2
131.9
121.5
124.6
128.1

126.0
119.4
132.0
122.0
125.2
128.6
114.6
113.1
130.1
122.9
114.5

126.8
119.2
131.6
121.7
125.7
129.2
115.1
113.3
130.0
123.6
114.7

0.3
-2.3
6.0
2.0
9.1
3.5

2.3
2.4
6.2
2.4
7.8
5.2

2.1
2.9
5.7

2.0
2.7
3.8
3.3
1.0

114.5
112.8
129.7
122.4
114.4

8.2
5.0

P R E P A R E O BY F E D E R A L R E S E R V E BA NK O F S T .

LO U IS

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX. 1972“ 100
1972-100




1972-10 0

KENTUCKY

130

120
110
100
90

22

EMPLOYMENT INDICATORS

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

1972-100

LATEST DATA PLOTTEO: DECEMBER



P R E P A R E D BY F E D E R A L R E S E R V E BANK O F S T .

23

LO U IS

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEXi 1972-100________
OCTOBER
_ 1978

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LITTLE ROCK-NORTH
LITTLE ROCKt AR
PINE BLUFF: AR

KENTUCKY

EVANSVILLE: IN-KY
LOUISVILLE: KY-IN

MISSISSIPPI
MISSOURI

ST. LOUIS: MO-1L
SPRINGFIELD: MO

TENNESSEE

MEMPHIS: TN-AR

NOVEMBER
1978

DECEMBER
1978

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC DECEMBER 1978
FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR ACO

117.5
118.1
112.5
124.6
126.4

118. 1
118.6
112.7
125.2
127.7

118.4
119.3
113.1
126.0
129.5

3.8
4.5
4.0
2.3
4.8

4. 1
3.0
2.9
3.0
4.3

121.1
116.0
125.7
114.5
116.4
122.8
111.1
108.2
121.0
117.0
111.9

121.9
116.1
126.0
114.5
116.4
125.2

122.6
116.1
126.2
115.1
117.0
123.7

0.0
1.0
5.9
1.4
9.8

111.1
108.6
121.6
117.6
111.8

111.7
108.5
120.7
118.4
112.0

1.2
1.3
5.7
2.3
5.8
3.4
1.9
2.7
2.9
2.6
1.4

3.0
2.6
3.8
6.5
7.1
3.7

STATE SUMMARY-TOTAL PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANCE
____TERMINAL_____
QUARTER
1-7* 2-7*

___INITIAL QUARTER
3-7*

*-7*

2-7*

2.3

3-7*

1.1

0.0

*—7*

-0.7

-2.2

-*.*

1-75

-3.0

-*.7

-6.9

-9.*

1-75

2-75

3-75

*-75

1-76

2-76

3-76

1972«100
*-76

1-77

2-77

3-77

*-77

1-78

2-78

3-78
107.9
107.9
106.7
10*. 1

2-75

-2.7

-3.9

-5.2

-5.5

-1.5

3-75

-1.6

-2.3

-2.9

-2.*

1.3

*.3

*-75

-0.5

-0.9

-1.1

-0.3

3.0

5.3

6.2

103.7
io*.a
106.*

1-76

0.6

0.3

0.*

1.3

*.2

6.2

7.2

8.1

2-76

0.9

0.7

0.8

1.7

*•1

5.5

5.9

5.7

3.*

3-76

0.9

0.7

0.8

1.5

3.5

*•5

*•6

*•0

2.0

*-76

0.9

0.8

0.9

1.6

3.3

*•1

*•0

3.5

2.0

1.3

1.8

1-77

1.3

1.2

1.3

2.0

3.5

*.2

*•2

3.8

2.8

2.6

3.5

108.5
109.*
0.7

109.6
110.1
5.2

111.5

2-77

1.6

1.6

1.7

2.*

3.8

*•*

*•5

*•2

3.*

3.*

*•3

5.5

5.9

3-77

1.6

1.6

1.7

2.3

3.5

*•1

*.l

3.8

3.0

3.0

3.6

*•1

3.6

1.*

113.1
113.5

*-77

1.9

1.9

2.0

2.6

3.7

*.3

*.3

*.0

3.*

3.*

*.0

*.5

*.3

3.6

5.8

1-78

2.0

2.0

2.1

2.6

3.7

*•2

*•2

*•0

3.*

3.5

3.9

*•3

*.l

3.6

*•6

3.5

115.1
116.1

2-78

2.1

2.1

2.3

2.8

3.8

*•2

*•2

*.0

3.6

3.6

*.0

*.*

*.2

3.8

*•6

*•0

*•6

3-78

2.0

2.0

2*1

2.6

3.5

3.9

3.8

3.6

3.2

3.1

3.5

3.7

3.*

3.0

3.3

2.6

2.1

-0.3

*-78

2.1

2.1

2.2

2.7

3.5

3.9

3.9

3.7

3.3

3.3

3.6

3.8

3.6

3.2

3.6

3.0

2*9

2.1

9.5

1-7*

2-7*

3-7*

*—7*

1-75

2-75

3-75

*-75

1-76

2-76

3-76

*-76

1-77

2-77

3-77

*-77

1-78

2-78

3-78




117.*
117.3
____ 118.6

INITIAL QUARTER

P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F S T .

24

LO U IS

PRODUCTION AND PRICE INDICATORS

Farm Land V alu e s

i967 =ioo
420

380

340

300

260

220

180

140

100

60

20
March data for 1958-70; March and November data for 1971-75, and February and November data for 1976-78

FARM LAND VALUES
Index 1967-100

Compounded Annual
Rates of Change
Feb. 1978
Nov. 1977
to
to
Nov. 1978
Nov. 1978

Feb.
1976

Feb.
1977

Nov.
1977

Feb.
1978

Nov.
1978

United States

242

283

296

308

332

10.5

12.2

CMV State Summary

243

302

323

338

364

10.4

12.7

213
260
244
239
205
241
251

238
353
321
281
217
284
275

250
372
351
304
232
301
288

261
390
361
317
249
325
307

290
417
397
334
274
343
325

15.1
9.3
13.5
7.2
13.6
7.5
7.9

16.0
12.1
13.1
9.9
18.1
14.0
12.8

Arkansas
Illinois
Indiana
Kentucky
Mississippi
Missouri
Tennessee




25

PRODUCTION AND PRICE INDICATORS




ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
INDEX: 1971-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS
MO
120
100

ELECTRICAL MACHINERY

80
60

MO

120
100

80
60
26

PRODUCTION AND PRICE INDICATORS

ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
__________ INDEX. 1971 "100________

UNITED STATES
TOTAL MANUFACTURING AND MINING
EIGHTH DISTRICT
TOTAL MANUFACTURING AND MINING
MANUFACTURING
DURABLES
ELECTRICAL MACHINERY
FABRICATED METALS
LUMBER AND FURNITURE
NONELECTRICAL MACHINERY
OTHER DURABLES
PRIMARY METALS
STONE, CLAY, AND CLASS
TRANSPORTATION EQUIPMENT
NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES AND
TOBACCO
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
MINING




COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC DECEMBER »0T»
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR ACO
___3 MONTHS__

OCTOBER
1978

NOVEMBER
197B__

DECEMBER
__1978__

125.4

126.6

126.3

1.6

5.1

117.1

114.9

118.5

-5.4

-0.7

116.7

114.5

117.0

-5.7

-0.2

129.7
100.4
140.5
195.8
142.4
148.7
159.5
108.0
118.7

126.5
95.9
159.4
195.5
142.8
145.0
152.2
105.4
121.1

121.0
106.5
146.5
200.8
145.8
151.0
105.8
108.7
111.9

1.6
5.6
24.6
-9.6
12.5
10.5
-15.1
-1.1
12.9

1.0
0.2
5.4
6.8
0.8
5.5
0.0
-5.6
2.0

111.7

109.8

115.2

-5.8

-0.9

110.4

106.1

118.8

-0.4

-1.5

151.9
114.5

151.5
112.7

120.0
110.2

-5.2
-4.8

6.6
1.0

86.6

85.4

88.0

-14.7

-10.5

140.6

144.4

144.7

-54.7

-18.8

P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F S T . L O U I S

27

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEXi 1974-100

RESIDENTIAL BUILDING

NONRESI DENT IAL BUILDING

KENTUCKY

530
250
170
90
10

330
250
170
90
10

330
250
170
90

330
250
170
90

10

10




330
250
170
90
10

28

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX. 1974-100

TOTAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF. AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE. KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS. MO-1L
SPRINGFIELD. MO
TENNESSEE - WEST
MEMPHIS. TN-AR-MS
RESIDENTIAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF. AR
KENTUCKY
EVANSVILLE. IN-KY
LOUISVILLE. KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS. MO-1L
SPRINGFIELD. MO
TENNESSEE - WEST
MEMPHIS. TN-AR-MS
NONRESIDENT 1AL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF. AR
KENTUCKY
EVANSVILLE. IN-KY
LOUISVILLE. KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS. MO-1L
SPRINGFIELD. MO
TENNESSEE - WEST
MEMPHIS. TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHANGE

3RD
QUARTER
1978

4TH
QUARTER
1978

4TH QTR 1977
TO
4TH QTR 1978

4TH QTR 1976
TO
4TH QTR 1977

191.4
205.9
187.0
211.3
189.9

164.2
178.2
139.1
176.4
163.6

14.7
10.1
6.4
2.8
-21.2

34.2
38.3
19.7
36.2
205.0

173.6
157.8
210.5
876.8
153.5
216.5
247.9
183.4
389.0
116.0
100.2

132.1
58.3
209.6
202.0
159.2
201.2
161.6
139.6
209.7
106.7
104.7

-19.1
-31.7
25.7
-26.2
64.6
-10.9
17.8
-1.6
-9.7
12.2
27.1

16.7
-66.7
51.2
31.5
12.4
46.3
37.9
48.2
-0.9
-4.6
-17.1

230.3
259.6
219.2
271.4
266.3

202.4
217.4
168.5
233.9
220.1

16.5
18.6
4.5
7.9
4.5

36.6
50.7
35.3
62.2
119.0

182.9
179.4
248.0
382.5
153.4
283.8
296.6
250.2
532.6
184.7
162.7

156.6
167.2
219.0
288.3
147.8
250.8
208.1
164.0
306.8
154.1
142.1

-11.8
-16.5
21.5
-2.0
31.3
32.4
16.3
1.2
-6.6
12.9
8.4

53.8
133.1
65.0
-2.1
56.8
47.0
25.5
22.5
10.3
44.4
44.5

152.1
145.5
155.0
152.8
48.1

125.5
134.1
110.0
101.4
58.1

11.8
-2.6
9.5
-10.1
-70.5

9.5
23.2
1.1
-2.8
1,132.5

160.4
149.0
166.1
1,443.2
113.0
130.8
203.2
122.0
233.9
50.1
47.3

97.1
14.2
198.5
103.2
170.9
138.0
119.0
117.1
105.0
61.2
73.1

-32.0
-63.4
31.5
-58.7
113.4
-49.3
20.3
-5.0
-18.1
10.5
77.9

-18.4
-88.1
35.3
144.2
-20.5
45.7
65.1
98.4
-22.7
-47.1
-61.5

XUSEO WITH THE PERMISSION OF OOOOE CONSTRUCTION
POTENTIALS, MCGRAW-HILL INFORMATION SYSTEMS COMPANY




P R E P A R E D B Y F E D E R A L R E S E R V E BA NK O F S T .

29

LO U IS

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100
250
-

190

u .s .

1971-100
250

11-------------------------____

STATES _

—

130

190
130

" v

70
10

70
. . i ■ ■ i ■ ■ i ■ ■ L-L 1 L i l l i l l 1

1972

1973

m

1974

J i . I m I li

1975

1 1 1 1 11 1 1 1 1 1

1976

1977

« ‘ 1 ■■1 ■■ 1 ■ ■

1978

KENTUCKY

10

250
190
130
70
10

250
190
130
70
10

250
190
130
70

250
190
130
70

10

10
LATEST DATA PLOTTED: DECEMBER




P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T . L O U I S

30

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
__________ INDEX. 1971-100________
OCTOBER
1978

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
LITTLE ROCK-NORTH
LITTLE ROCK: AR

KENTUCKY
LOUISVILLE: KY-IN

MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L

TENNESSEE
MEMPHIS: TN-AR-MS

NOVEMBER
1978

DECEMBER
1978

COMPOUNDED ANNUAL
RATES OF CHANCE
8 MONTHS ENDING DECEMBER 1978
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR ACO
S MONTHS

91.8

92.6

82.7

23.1

-5.8

90.4

66.5

64.2

-13.9

-5.0

69.8

54.1

59.2

-6.9

-5.7

91.5

70.6

100.9

-13.7

-23.2

60.2

40.9

39.4

-66.2

-35.9

81.2
67.2

82.4
52.9

49.3
42.8

31.5
72.2

-6.7
-5.7

72.6

82.5

84.7

15.3

-2.9

88.4
87.7

58.4
83.5

73.8
89.1

-43.6
3.8

-5.6
-1.3

99.7
51.5

65.6
37.4

48.4
28.0

9.5
-10.6

4.1
-5.8

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

INITIAL QUARTER
1-7*

2-7*

3-7*

*—7*

1-75

2-75

3-75

*-75

1-76

2-76

3-76

1971-10C
*-76

1-77

2-77

3-77

*-77

1-78

2-78

3-78

2-7*

-31.3

52.8

3-7*

-*8.8 -61.8

*1.5

4—7*

-56.8 -65.8 -69.3

1—75

-*2.1 -*5.3 -3*.*

2-75

-20.9 -18.0

5.8

30.9
39.8

33.6

96.* 175.8

*3.3

3-75

-11.6

-7.0

16.1

80.9 105.8

53.5

*8.2

*-75

-11.5

-7.7

10.1

51.5

55.6

16.8 -11.1

*6.8

1-76

-2.7

2.3

20.5

58.*

63.*

37.2

2-76

-7.1

-3.5

10.2

36.*

35.7

13.6

2.8

3-76

0.6

5.0

19.1

**•6

*5.*

27.9

22.2

*-76

7.9

12.9

27.*

52.1

5*.0

39.7

1-77

3.9

7.9

19.7

39.3

39.2

26.2

2-77

9.1

13.*

25.1

**•0

**•5

33.3

30.6

29.7

89.*

5* .9

10.5 -35.5

*9.2

35.9

15.1 105.*

37.1

52.8

*2.2 111.2 117.2

71.5

22.2

30.2

18.6

*5.3

22.2 -31.3

65.1

39.2

30.9

56.3

*2.7

15.7

58.9

3-77

11.9

16.2

27.5

*5.1

*5.6

35.7

33.6

*1.6

3*.9

56.3

*6.0

27; 9

*-77

8.1

11.6

21.2

35.9

35.6

26.3

23.6

28.8

21.9

35.5

2*. 7

8.5

1-78

2.7

5.5

13.*

25.*

2*.3

15.6

12.*

15.3

8.*

16.7

6.2

-7.9

2-78

5.9

8.8

16.7

28.*

27.6

19.6

16.9

20.2

1*.3

22.7

1*.0

2.*

9* .7

7 6 .9

56.*

86.0

26.* __ 1.8 -33.7

77.6

7*.5

6*.5

-0.9 -20.9 —*3.7 -52.3
10.9

-3.6 -18.0

-8.8

7*.2

7*.L_
76.5

3-78

6.3

9.1

16.5

27.3

26.5

19.1

16.6

19.6

1*.2

21.7

1*.0

3.9

11.*

-0.* -11.0

-1.9

*0.7

13.6

*-78

5.2

7.7

14.5

2*. 3

23.3

16.*

1*.0

16.3

11.3

17.5

10.5

1.5

7.3

-2.8 -11.6

-5.0

19.5

-1.1 -13.9______ 73.7-

1-7*

2-7*

3-7*

*—7*

1-75

2-75

3-75

*-75

1-76

2-76

3-76

*-76

1-77

2-77

*-77

1-78

2-78




3-77

3-78

INITIAL QUARTER

P R E P A R ED BY F E D E R A L R E S E R V E BANK OF S T .

31

LO U IS

PRODUCTION AND PRICE INDICATORS

PRICE S RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED

CORN

i 1 i-

BEEF CATTLE

350
270
190

—

110

110

30 iiJj-ilitin

■till ill i l u

RICE

n l n l i i l i i lit ii lulii. u l n l u l u

i x I i i L x L j-

BROILERS

350
270
190




30
350
270
190

—

110

30

350
270
190

110
Illl.d u t n

ulnlulu

SOYBEANS

30

HOGS

350
270
190

*

- \ f

110

30

11.1111II1II

TOBACCO

MILK

350
270
190
110

30

TURKEYS
350
— 270
190

—

110

1ll11111111 lllllllllll lllllllllll lllllllllll lllllllllll
1975
1976
1974
1977
1978
P R E P A R ED BY F E D E R A L R E S E R V E BANK O F S T .

32

LO U IS

30

PRODUCTION AND PRICE INDICATORS

PRI CES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED

ALL FARM PRODUCTS
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

LIVESTOCK AND LIVESTOCK
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

192.5
186.0
155.4
143.6
213.0
186.6
244.3

190.8
186.0
159.3
146.3
217.4
180.3
250.4

197.0
190.7
164.8
150.4
220.8
178.2
238.1

i
•
Ul

__________ INDEX. 1971-100________

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING DECEMBER 19T8
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO _

10.8

-3.9
-29.5
7.7
-5.1
25.3

10.3
-22.4
15.5
12.9
17.3

197.3
183.6
180.3
285.1
192.4
205.8

193.9
177.7
179.5
260.5
197.6
212.6

201.6
186.7
181.0
267.8
201.0
226.3

24.4
25.3
-44.5
16.6
47.4
47.5

31.3
50.2
15.7
22.6
16.0
22.3

8.9

21.6

PRICES-ALL FARM PRODUCTS
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER

1971*100

___ INITIAL QUARTER
1-74

2-74

-41.6

3—74

-12.6

4-74

-6.3

1-75

-13.5

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

3-78
158.5
169.5

30.8
7.8

172.7

-1.4 -14.4 -32.0

156.8

18.7

-6.0 -12.2

161.8

2-75

-8.7

2.1

3-75

-3.4

6.9

1.6

-0.4

20.6

13.4

4-75

-4.7

3.3

-1.4

-3.6

8.3

5.9 -12.6

172.2

28.3

166.5

-4.6

2.3

-1.8

-3.6

5.2

2.6

-6.2

-3.6

-2.7

3.7

0.3

-0.9

6.9

5.3

-1.4

4.7

13.7

3-76

-3.1

2.5

-0.6

-1.8

4.5

2.8

-2.8

0.7

2.9

4-76

-5.2

-3.5

-4.8

-0.1

-2.2

-7.4

-6.1

1-77

-3.0

-0.9

-1.8

2.8

1.3

-2.6

-0.4

1
o
•

1-76
2-76

1.6

165.0
170.4
-6.9

167.4

-6.9 -15.8 -23.8
0.4

-3.7

156.4

-2.1

25.7
15.8

165.6

2-77

-2.3

2.0

-0.3

-1.0

3.2

2.0

-1.3

0.7

1.6

-1.2

0.7

6.7

168.3

3-77

-4.1

-0.4

-2.6

-3.5

-0.1

-1.5

-4.7

-3.5

-3.5

-6.6

-6.5

0.1 -10.7 -25.2

156.5

4-77

-3.4

0.1

-1.9

-2.7

0.5

-0.7

-3.5

-2.2

-2.1

-4.5

-4.0

1.7

1-78

-1.4

2.1

0.3

-0.3

3.0

2.1

-0.2

1.3

1.9

0.3

1.5

7.6

3.4

2.4

19.8

34.4

4.5

3.0

2.7

6.0

5.4

3.5

5.3

6.3

5.4

7.3

13.6

11.3

12.5

28.9

41.6

2-78

1.0

-5.2 -10.6

159.1

6.8

171.3
189.3

49.1

3-78

1.0

4.3

2.8

2.5

5.5

4.9

3.2

4.8

5.6

4.8

6.3

11.5

9.3

9.9

21.0

26.1

22.1

0.0

4-78

1.4

4.5

3.2

2.9

5.8

5.2

3.6

5.1

5.9

5.2

6.6

11.2

9.3

9.7

18.5

21.6

17.6

4.4

8.9

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

2-78

3-78




189.3
____ 193.4

INITIAL QUARTER

P R E P A R E D BY F E D E R A L R E S E R V E BA NK O F S T .

33

LO U IS

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED

INDEX: 1974-100

TOTAL LOANS

1974-100

TOTAL DEPOSITS

1974-100

210 ------- 1-------

170

u .s .

SUSA'S

210

,

—

130
90 ^ -----

.

50 ■11a1 1ii1ii 11111111I11 11111111111 I111ll1ll11 11111111111
1974

1975




1976

1977

1978

1974

1975

EVANSVILLE: IN-KY

34

1976

1977

1978

P R E P A R E D BY F E D E R A L R E S E R V E BAMK O F S T .

LO U IS

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
__________ INDEXi 1974-100________

TOTAL LOANS
UNITED STATES
™
METROPOLITAN SUMMARY*
COLUMBIA! MO
EVANSVILLE: IN-KY
FAYETTEV1LLES P R 1NGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TEXARKANA: AR
TOTAL DEPOSITS
UNITEO STATES
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
TEXARKANAi AR

COMPOUNDED ANNUAL
BATES OF CHANCE
3 MONTHS ENDING DECEMBER 1978
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR AGO
3 MONTHS

OCTOBER
1978

NOVEMBER
1978

OECEMBER
1978

130.7
138.8
165.9
168.4

133.0
141.6
163.6
168.7

133.7
140.6
163.4
171.8

13.8
12.6
11.5
-1.4

13.7
13.9
14.9
19.9

211.3
166.6

212.5
170.5

213.4
170.0

7.5
15.8

11.5
10.5

161.5
154.4
99.8
155.4
136.5
120.3
170.5

167.6
156.3
105.2
149.6
139.0
124.5
168.8

152.7
157.8
103.0
152.2
140.0
127.1
174.3

-14.9
18.2
19.6
6.0
17.2
-31.5
17.3

7.1
18.2
5.2
10.4
18.2
-17.4
15.5

131.0
133.8
166.2
162.2

132.1
133.7
164.5
162.9

132.6
134.1
164.5
165.4

6.3
4.0
10.3
3.5

9.2
8.0
14.7
11.8

175.9
166.3

176.2
163.4

176.1
163.8

6.4
6.3

9.3
8.6

150.9
154.7
113.0
148.0
124.4
117.7
158.8

147.6
154.9
112.3
145.9
123.8
117.0
157.4

147.3
156.3
111.6
146.0
124.5
119.6
159.4

-6.7
9.3
1.4
1.4
7.1
-28.0
2.0

5.2
16.1
2.5
6.7
7.8
-19.8
11.1

AVERAGE NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIGHTH DISTRICT) w
METROPOLITAN SUMMARY*
NONMETROPOLITAN SUMMARY
ARKANSAS
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
LOUISVILLE: KY-IN
NONMETROPOLITAN AREAS
ILLINOIS
NONMETROPOLITAN AREAS
INDIANA
EVANSVILLE: IN-KY
NONMETROPOLITAN AREAS
MISSISSIPPI
NONMETROPOLITAN AREAS
MISSOURI
COLUMBIA: MO
ST. LOUIS: M O - 1L
SPRINGFIELD: MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLITAN AREAS

DECEMBER

NOVEMBER

410.50
122.25
286,25
76.00

409.40
122.00
285.40
76.00

407.50
122.00
283.50
75.50

419.00
126.00
291.00
78.00

6.00
3.00

6.00
3.00

6.00
3.00

6.00
3.00

7.00
4.00
3.00
51.00
41.00
8.00
31.00
130.00
104.00
40.00
13.00
27.00
17.00
16.00
92.50
4.00
62.25
4.00
48.25
14.00
8.00
9.00

7.00
4.00
3.00
51.00
41.00
8.00
31.00
129.40
103.40
40.00
13.00
27.00
17.00
16.00
92.00
4.00
62.00
4.00
48.00
14.00
8.00
9.00

7.00
4.00
3.00
50.50
41.00
8.00
31.00
129.00
103.00
40.00
13.00
27.00
17.00
16.00
91.00
4.00
62.00
4.00
47.00
14.00
8.00
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

1978 .

XEXCLUDES BANKS IN TWO METROPOLITAN AREAS



DECEMBER

OCTOBER
1978

1978

1977 .

PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS

35

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED

INDEX* 1974-100

NONMETROPOLITAN ARKANSAS

NONMETROPOLITAN KENTUCKY
210

210

170
130
90

170
130
90
50

50

NONMETROPOLITAN MISSISSIPPI
210

170
130
90
50

NONMETROPOLITAN MISSOURI

210
1 11

—

1ill! lit 1lii n l u k i l u

170
130
90
50

NONMETROPOLITAN TENNESSEE
210

210

—
170 —
130
90
50 ■111*111111 11111111111 11111111111 1I111111111 I1I1111t11■
1977
1975
1976
1978
1974
LATEST DATA PLOTTED* DECEMBER



—

—

1 1

1 1 1
1974
11

1 1

1 1

1 1

1 1 1
1975
11

1 1

11

1 1

1 1 1
1976
11

11

1■

1 1

1 1 1
1977
11

l1

l 1

1

ll 1 1
1978

P R EP A R ED BY F E D E R A L R E S E R V E BANK OF S T .

36

11

1 1

l1

LO U IS

170
130
90
50

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEXt 1974-100

ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE
TOTAL DEPOSITS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

167.1

167.2

167.6

10.4

«
CM

TOTAL LOANS
NONMETROPOLITAN SUMMARY

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS EN01NC DECEMBER 1978
FROM SAME
FROM PREVIOUS
MONTHS A
___3 MONTHS
YEAR ACO

153.5
190.0
166.7
177.1
155.5
160.7
151.9

155.0
189.1
165.6
178.2
160.0
157.8
152.1

154.2
190.9
169.0
179.5
158.2
156.7
150.0

6.8
8.7
13.5
12.0
26.1
9.1
5.7

11.1
13.9
17.3
11.8
15.9
8.6
13.4

148.1

147.8

146.9

5.6

8.1

138.4
154.7
143.1
160.5
155.0
145.6
140.9

139.3
153.5
141.7
162.6
157.4
142.5
141.9

138.1
153.9
143.2
162.7
156.6
139. 1
139.1

4.4
2.4
4.6
11.1
21.7
0.8
6.5

6.5
7.6
9.7
9.0
14.1
4.6
12.4

MEMBER BANK DATA BY STATE
SEASONALLY ADJUSTED
INDEXi 1974- 100

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS ENDING DECEMBER 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR ACO

OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

146.6

148.5

147.9

11.6

160.8
165.6
161.3
161.0
157.1
140.8
105.4

163.4
166.2
161.2
162.8
161.4
142.0

110.2

158.2
169.8
163.9
164.1
159.1
142.4
108.1

-0.5
7.0
3.0
15.9
24.5
14.8
17.7

138.6

138.4

138.3

4.5

148.0
138.8
148.4
158.3
158.1
130.9
115.9

146.9
138.4
147.0
159.0
159.8
129.2
115.8

146.0
139.8
148.4
160.4
159.2
127.9
114.9

TOTAL LOANS
STATE SUMMARY
(EIGHTH DISTRICT )
ARKANSAS
ILLINOIS
1N D 1ANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

13.5
9.8

11.6

18.3
16.9
16.0
16.3
6.4

IQ.TAL DEPOSI T?
STATE SUMMARY
(EIGHTH DISTRICT)
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE




1.1

2.0
3.6
10.7

21.0

3.8
2.5

8.0
6.8
4.4

11.1

13.9
14.9
7.7
3.8

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

FINANCIAL INDICATORS

SAVINGS AND LOAN ASSOCI ATI ON DATA
SEASONALLY ADJUSTED

INDEX: 1974-100

240
200

160
120

80




TENNESSEE
—

240
—

200

160
120

iiii1111111 11111111111 11111111111 11111111111 11111111111 80
1977
1975
1976
1978
1974
P R E P A R E D BY F E D E R A L R E S E R V E BA NK O F S T .

38

LO U IS

FINANCIAL INDICATORS

SAVINGS AND LOAN ASSOCI ATI ON DATA
SEASONALLY ADJUSTED
__________ INDEX. 1974-100________
DECEMBER
1978

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS ENDING DECEMBER 1978
FROM SAME
MONTHS A
FROM PREVIOUS
y ea r AGO
___L MONTHS

OCTOBER
.. 1978.

NOVEMBER
19TB

181.0
182.5
174.2
193.3
180.2

182.9
184.5
175.7
195.9
182.4

184.7
185.9
176.8
198.2
184.4

15. 1
14.4
13.0
16.9
15.1

11.5
11.8
10.5
14.5
12.9

180.2
168.6
178.3
167.3
225.6
173.7
175.2
157.9
185.0
178.9

181.4
170.3
179.1
168.0
228.1
175.4
177.0
159.4
187.0
180.2

182.7
170.0
181.4
168.8
230.2
176.8
178.8
162.7
188. 1
180.9

10.3
16.9
8.7
9.6
18.3
13.6
14.5
9.3
15.2
13.7

10.9
11.4
11.0
7.9
12.8
10.5
10.8
12.0
13.2
10.8

175.3
181.6
169.2
193.9
187.9

177.5
183.8
171.3
195.6
189.2

179.1
185.5
173.3
197.3
190.9

14.0
14.2
14.2
14.0
13.0

14.0
14.9
13.6
13.7
12.9

176.1
166.2
179.1
163.4
207.6
173.9
169.1
169.7
185.8
168.1

177.9
166.6
180.7
164.2
210.9
175.7
171.7
171.5
188.9
171.6

179.6
165.3
182.2
165.9
214.0
177.2
173.7
173.8
191.4
173.1

15.0
2.0
10.6
9.3
17.7
13.8
15.6
18.1
17.9
15.4

9.7
9.9
13.7
12.2
15.1
14.5
13.9
20.4
17.6
15.8

TOTAL SAVINGS
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHt AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
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
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

NUMBER OF SAV1NGS AND LOAN ASSOCIATIONS

UNITED STATES
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS




OCTOBER
1978

NOVEMBER
1978

DECEMBER
1978

DECEMBER
1977

4,055
75
4

4,060
75
4

4,060
75
4

4,065
71
4

7
7
7
3
3
3
106
103
105
12
12
12
58
60
60
112
112
112
55
55
55
5
5
5
97
94
93
5
6
4
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7
3
105
12
60
112
52
5
97
6

39

POPULATION
Bureau of the Census

1970

1975

Compounded Annual
Rates of Change
1970
1960
to
to
1975
1970

203,305,000

213,051,000

.9

1.3

15,964,668

16,809,000

1.0

.7

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
CMV Metropolitan Areas




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