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■Is/ncV

TRAL MiSSiSSiPPI VALLEY "
NOMiC iNDiCATORS

Prepared by Federal Reserve Bank of St. Louis

1ST Q U A R T E R 1 9 7 9



Released: June 6, 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 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 selfgenerating 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

The expansion of economic activity in the Central Mississippi
Valley (CMV) continued in the first quarter of this year, completing the
fourth year of expansion. This is the second longest expansion in the post
World War II period. Personal income in the five CMV states increased at
a 12.2 percent annual rate from the first quarter of 1975 to the fourth
quarter of 1978, slightly faster than for the U.S. as a whole. Payroll
employment advanced at a rapid 4.1 percent rate from the first quarter of
1975 to the first quarter of 1979, compared with a 3.5 percent rate for the
U.S.
The rate of expansion has varied among individual states and
metropolitan areas (SMSAs). Payroll employment, for example, advanced at
rates of 5.2 percent in Mississippi, 4.8 percent in Kentucky, 4.6 percent
in Arkansas, 4.0 percent in Tennessee, and 3.1 percent in Missouri.
Employment gains have been greater in the smaller SMSAs than the larger
ones. Fort Smith led the SMSAs in payroll employment growth with an annual
rate of gain of almost 7 percent, followed by Little Rock, Pine Bluff, and
Evansville with approximately 4 percent rates of increase. In contrast,
the three largest SMSAs — Louisville, Memphis, and St. Louis — had gains
of 3.5, 2.5, and 2.0 percent, respectively.
In the first quarter of this year, employment posted large gains
in the five CMV states with manufacturing employment rising at a 5.7
percent annual rate and nonmanufacturing employment at a 4.8 percent rate.
Over the past four quarters, however, manufacturing employment increased
only 1.7 percent, down substantially from the increase in the previous
year, while nonmanufacturing employment increased 5.2 percent, nearly
identical to the increase in the previous year.
The rapid gains in payroll employment in the first quarter would
normally indicate large increases in the output of goods and services.
However, output per hour of all persons in the U.S. private business sector
declined at a 4.6 percent annual rate in this period, partially reflecting
severe weather conditions early in the quarter. Assuming a similar decline
in productivity occurred in the CMV region, gains in output were not as
robust as the employment growth suggests.
Rapid employment growth has reduced unemployment rates in the CMV
region from year-ago levels. Unemployment in the CMV states averaged 4.8
percent of the work force in March, down from 5.6 percent a year ago.
Construction activity continued to gain in the first quarter of
this year despite adverse weather early in the quarter and some weakening
in the residential market. Construction employment in the five CMV states
rose at a 16.1 percent annual rate from the fourth quarter of 1978 to the
first quarter of this year and for the year was up a hefty 15 percent from
a year ago. This strength reflected a sharp increase in nonresidential
building and little change in residential building. The value of
nonresidential building contracts let in the first quarter was 93 percent
above a year ago. On the other hand, the value of residential contracts
was about the same as a year ago. Housing permits issued in the CMV states
were down about 25 percent, whereas for the U.S. as a whole, housing
permits were down only about 10 percent.




3

INCOME AND TRADE

I N D I C A T OR S

PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX: 1 97 1 -1 0 0
1 9 7 1 -1 0 0

1 9 7 1 -1 0 0

ARKANSAS

KENTUCKY

260

220
180
140
100
260
220
180
140
100

260

260

220

220

180

180

140

140

100

100




INCOME ANO TRADE

PERSONAL

INDICATORS

INCOME

SEASONALLY ADJUSTED
INDEX!

COMPOUNDED ANNUAL
RATES OF CHANCE

1971-100

3RD OTR 1978
TO
4TH OTR 1978

4TH
QUARTER
1978

3RD
QUARTER
1978

4TH QTR 1977
TO
1TH QTR 1978

202.6

209.2

13.7

12.6

213.9

220. 1

12.2

12.9

ARKANSAS

236.2

242.3

10.7

15.2

KENTUCKY

220.5

227.3

12.8

13.2

M IS S IS S IP P I

230.4

229.5

-1.6

13.5

MISSOURI

195.9

203.5

16.4

11.2

TENNESSEE

215.8

223.2

14.3

13.6

UNITED
CMV

STATES

STATE

SUMMAR Y

___STATE SUMMARY—PERSONAL INCOME__
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

IN IT IA L

QUARTER

197 1 *1 0 0

flUMTfcft__________________________________________________________ ____ — --- ----------- ---- —
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

*-7 7

1-78

2-78

137.0

2 - 7*

11. e

3- 7 *

4 1 .6 . 11.6

160.8

* —7 *

9 .*

8.3

5 .2

1-75

7 .1

5 .6

2 .7

0.3

1* 2 . 6

7 .0

l*.l

9 .7

1* . 8

* 2 .7

1

2-75

8 .*

7 .7

6 .*

3-75

9 .6

9 .2

8 .6

*-75

9 .7

9.*

8 .9

9 .9

1 3.3

12 .9

10.3

1-76

10.1

9. 9

9.6

10.5

13.2

1 2 .9

11 .6

1* 7 . 5
15 .5

1 5 2.9
1 5 6 .7
12.8

1 6 1.5

2-76

9 .7

9.5

9 .2

9.9

11 .9

11.3

10 .0

9.8

6 .9

3-76

9 .6

9. *

9 .1

9 .7

11 .3

10.8

9.6

9 .*

7.7

8.5

*-76

9.9

9 .8

9 .6

10.1

11.6

11.2

10.3

10.3

9 .5

10.9

13.3

1-77

10.1

10 .0

9 .8

10.3

11.7

11.3

10.6

10 .7

10 .2

1 1 .3

1 2.7

12.1

2-77

1 0 .*

10.3

1 0.2

10.7

11.9

1 1.6

11.1

11.2

10.9

1 1.9

13.1

13 .0

1 6 *.2
167.6
172.9
1 7 7 .V
13.9

183.8

3-77

1 0 .*

10.3

1 0.2

1 0 .7

11 .8

11.5

11 .0

11.1

10.8

11.6

1 2 .*

12.1

12.2

10.*

*-7 7

1 0 .7

10 .6

1 0.5

11.0

12.0

11.8

11.*

11.6

11.*

12.1

1 2.9

12.8

13 .0

1 2.6

1 *.8

1-78

10.*

1 0 . ■>

1 0 . A.

1 0.6

11.5

11.3

10.9

10 .9

10.7

11.3

1 1.7

11. *

11.2

10.*

1 0.3

6 .1

188.*
195.0
197.9

2-78

11.0

11.0

11 .0

11.*

12.3

12.1

11.8

12.0

11.9

12.5

1 3.1

13.1

13.3

13 .1

1 *.0

1 3.7

2 1.8

3-78

1 1.1

11. 1

1 1.0

11.*

12.3

12.1

11.8

12.0

11.9

12 .5

13.0

12.9

13 .1

12.9

1 3 .5

13.1

16 .8

12.1

*-78

11.1

11.1

1 1 .1

11.5

12.2

12.1

11 .9

12.0

11.9

12.*

1 2 .9

12.8

12.9

12.8

1 3 .2

12.9

15.2

12.1

ar i * . .A - I H

1-75

2-75

J -75

+ -75

1-76

.2 - 7 6

3 t 76 - 6 - 7 6

1-77

2-77

■3 - 7 7

*-77

i-ia

. 1

3-78

- fr-7 *




207.9
2 1 3 .9
12 .1

220.1

. 2 = 2 8 3 r 2 B____

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEX* 1 9 7 1 -1 00

-

u . s .

1
________

SUSA'S

270

197t - 100
350

..

—

190

190

\

it ■■

1

1—

197 1 -1 00
350

.ill i ill l i l t

1973

-l.-L . L t l L l . i .1. 1 . 1

i- l- Lt-i l L 1 - 1..L L . ■ 1 l I i -I 1 1 1 1 1 1 . 1 i L i .i l. L I 1 - t. l . .1 , 1 1 L-I. i l . 1 l l -L..

1974

LITTLE

1975

ROCK -

1976

1977

NORTH L I T T L E

1979

1978

ROCK:

1

30

•

1

110

30

AR
350

350
270 —

✓ —

*—

"

—

270

190

19.0

110

110

30

\ 1 1 1 111 l 1 1 1.. -.1.. L1 .1.1. L l.1 i.1 | i l l i i. li.i-L i i- 1 1 1 1 1 1 1 1.1.1 1., 1 1 1,1 1 1 1.1 1 1 1, u 1 ,lj..L 1.1,1, I X ■111. I. lI




LO UISVILLE:

i - i J.11.

30

K Y -IN

350
270
190
110
30

6

INCOME AND TRADE

INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEXi

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING FEBRUARY 1

1971-100

FROM SAME
MONTHS A
YEAR AGO

DECEMBER
1978

JANUARY
1979

FEBRUARY
1979__

FROM PREVIOUS
? MONTHS

UNITED STATES

194.8

191.8

189.5

4. 1

5.9

CMV METROPOLITAN SUMMARY

185.0

166. 1

184.0

-6.9

6.5

289.0

267.0

500.0

-0.6

7.7

298.5

291.1

283.7

6.6

6.5

177.2

154.8

166.0

-8.7

11.9

170.7

155.2

165.2

175.5

15 9 . 1

178.9

204.7

182. 1

201.4

FORT SMITH: AR- OK
L I T T L E ROCK- NORTH
LI TTLE ROCK: AR
L O U I S V I L L E : KY- IN
MEMPH I S : TN- AR- MS
ST . LOUIS : M O - 1L
S PR I NGF I EL D: MO

-

-

12.2

5.1

-3.4

5.4

14.8

2.5

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

U .S . DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANGE

1 -7 4
------ 2F75
------ 3 - 7 4

1 9 7 1 *1 0 0

IN IT IA L QUARTER

TERMINAL
QUARTER
2 -7 4

3 -7 4

4 -7 4

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8
1 2 8 .1

■5 .T

1 2 8 .5

372"— I T T "

1 2 6 .1

------ S=75” ~ - 0 * 4

-3 .1

- 7 .3

------ 1 -7 5

- 0 .6

-1 .6

4 .5

6 .6 "

TZ775
155 79

2 -7 5

4 .7

4 .5

5 .6

1 2 .6

2 1 .6

3 -7 5

5 .3

5 .3

6 .3

1 1 .3

1 4 .8

— 8 .3 ”

4 -7 5

5 .3

5 .3

6 .2

9 .8

1 1 .7

7 .0

5 .7

1 -7 6

5 .9

6. 1

6 .9

1 0 .0

1 1 .4

8 .1

8 .1

1 6 .5

Z—7 6

5 *6

5. 4

6 *3

8«t

9 .6

6 .7

6 .2

575

2 .6

3 -7 4

6 .1

6 .2

6 .9

9 .1

9 .9

7 .6

7 .5

67 1

67?

1 1 .4

6 -7 6

7 .2

7 .4

8 .1

1 0 .2

1 1 .1

9 .4

9 .6

1 0 .6

1 0 .7

1 4 .9

1 8 .6

1 -7 7

7 .1

7 .3

7 .4

9 .8

10 . 4

8 .9

9 .0

577

9 .5

1 1 .9

1 2 .2

6 .1

2 -7 7

7 .2

7 .4

8 .0

9 .6

1 0 .2

8 .9

8 .9

9 .5

9 .3

1 1 .1

1 1 .0

7 .3

1 3 6 .6
153 75
1 4 2 .0
1 4 2 .9
1 4 6 .8
1 5 3 .2
1 5 5 .5
8 .5

1 5 8 .7

3 —77

8 .5

8 .7

9 .4

1 1 .0

1 1 .7

1 0 .7

1 1 .0

1 1 .7

1 2 .0

1 3 .9

1 4 .6

1 3 .3

1 7 .0

2 6 .2

4 -7 7

1 0 .0

1 0 .3

1 1 .1

1 2 .8

1 3 .5

1 2 .8

1 3 .3

1 4 .3

1 4 .8

1 7 .0

1 8 .1

1 8 .0

2 2 .3

2 9 .8

3 3 .5

1-7®

9 .1

9 .4

1 0 .0

1 1 .4

1 2 .0

1 1 .2

1 1 .5

1 2 .1

1 2 .3

1 3 .8

1 4 .2

1 3 .4

1 5 .2

1 7 .6

1 3 .5 .

2 -7 8

9 .5

9 .7

1 0 .3

1 1 .7

1 2 .3

1 1 .5

1 1 .8

1 2 .5

1 2 .7

1 4 .0

1 4 .4

1 3 .7

1 5 .3

1 7 .1

1 4 .2

5 .6

1 5 .6

3 -7 8

9 .3

9 .5

1 0 .1

1 1 .3

1 1 .9

1 1 .1

1 1 .4

1 1 .9

1 2 .0

1 3 .2

1 3 .4

1 2 .6

1 3 .8

1 4 .9

1 2 .2

5 .9

1 0 .9

6 .4

4 -7 8

9 .2

9 .4

9 .9

1 1 .1

1 1 .5

1 0 .8

1 1 .0

1 1 .5

1 1 .6

1 2 .5

1 2 .6

1 1 .9

1 2 .8

1 3 .5

1 1 .1

6 .1

9 .6

6 .7

1 -7 4

2 -7 4

3 -7 4

4 -7 4

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8




IN IT IA L

1 6 8 .2
1 8 0 .8
- 3 .5

1 7 9 .2
*
1 8 5 .8
1 8 8 .7
7 .0

1 9 1 .9

3 - 7 8 ________________

QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

INCOME AND

TRADE

I N D I CA T OR S

NEW PASSENGER CAR R E G I S T R A T I O N S 11
SEASONALLY ADJUSTED
INDEX: 1 9 7 4 - 1 0 0
1974-100

1974-100
225
175
125
—

KENTUCKY

75

225
175
125
—I

75
25

M IS S IS S IP P I

225
175
125
75
25

MISSOURI

225

225
— 175

175 —

—v

125

125

V

75

75
1 1 1 1 1_1_1_1_1_1_1_ . ■ 1 ■ ■ 1 ■ ■ 1 ■ .

25

i »i »t i »«i i i

1 1 1 1 » 1 » « 1 « 1 --l.-J-.-l. -t. 1 1 1 1 1 11.-

175 — ?

11L

TENNESSEE

225
.

n A

125

______
----------<

225
175
125
75

75
25

25

”

. 1. , 1. , 1. .
1975

, 11
1 1 1 1 1 1 1 1 1 1 1 / 1 1W
1111111
1976

1977

LATEST DATA PLOTTED: FEBRUARY



111l 1111111
1978

. . 1, . 1. . 1. .
1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

8

Z5

INCOME AND TRADE

INDICATORS

NEW PASSENGER CAR R E G I S T R A T I O N S 11
SEASONALLY ADJUSTED
____________INDEX:

UNITED STATES

LI

IMPORTED
DOMESTICALLY PRODUCED

CMV STATE SUMMARY
ARKANSAS
KENTUCKY

1 9 7 4 - 1 0 0 _________

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

DECEMBER
1978

JANUARY
1979

FEBRUARY
1979

FROM PREVIOUS
3 MONTHS

126.6

124.3

128.8

9.0

4.7

128.6

142.9

157.1

14.6

-3.2

126.2

120.8

122.1

5.7

7.0

133.7

N. A.

N.A.

N.A.

125.7

117.0
N.A.

119.3
N.A.

N.A.

134.2

-5. 1

N.A.
11.9
N.A.

MISSISSIPPI

132.0

145.8

137.5

-11.5

-2.9

MI SS O U R I

148.3

107.8

-12.8

-3.0

TENNESSEE

114.6

101.7

98.5
N.A.

N.A.

N.A.

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




PREPARED BY FEDERAL RESERVE BANK OF ST

9

LOUIS

INCOME AND TRADE

I NDI CATORS

FARM CASH RE CEI PT S
SEASONALLY ADJUSTED
INDEX: 1971-100
1 97 1- 100

1 97 1- 100
380

220
— 140
60

KENTUCKY

380
300
220
140
60

M IS S O U R I

380
300
220
140
60

TENNESSEE
—

y v

220

_ l

300

380
L l

380

A .

220
140

140
60

300

11 1 1 1 I l l - I l l
1973

- J - l I - L . J - 1 1 1 1 l.J

II

1974

1 II

l 1 L 1 11

1975

11

1 I i l l

1976

LATEST DATA PLOTTED: FEBRUARY




l

I i l .

.11

1 1 1 1 1 1 1 II

1977

i

i

I m

I i i I m

1978

II

1 1 1 1 l 1 1 1 1...

1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

10

60

INCOME AND TRADE

IN D IC A T O R S

FARM CASH R E C E I P T S
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
PATES OF CHANCE
__________ INQEKt 1971-100________

3 MONTHS ENDING FEBRUARY 1079

FROM SAME
MONTHS A

DECEMBER
197S

JANUARY
1979

FEBRUARY
1979

FROM PREVIOUS
3 MONTHS

UNITED STATES

222. 1

238.0

239.4

55.1

21.3

CMV STATE SUMMARY

240.6

247.0

27 KS

62.7

28.9

ARKANSAS

241.7

319.3

524.5

116.4

33.3

KENTUCKY

182.6

228.1

225.0

•1 7 .9

9.5

M IS S IS S IP P I

256.2

231.4

264.5

206.4

37.1

MISSOURI

304.8

218.0

251.8

55.8

34.9

TENNESSEE

204.5

238.6

500.5

-4 .7

32.7

STATE SUMMARY-FARM CASH RECEIPTS
CQMPOUMOED ANNUAL RATES OF CHANGE

:

I N I T I A L QUARTER

TERMINAL
QUARTER
1 -7 4

2 -7 4

i -7 6

- 3 5 .5

3 -7 4

-2 3 .7

- 9 .8

4- T 4

-0 .3

2 3 .9

1 -7 3

YEAR ACO

3 -7 4

4 -7 4

1 -7 5

2 -t5

3 -7 5

4—1 5

1 -7 6

2 -7 6

3 -7 6

1971*100
4 -7 6

i- n

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8
15177
1 4 9 .0

7 0 .2

m m

—1 4 . 7 - 1 3 .3 - 1 5 . 4 - 5 7 . 9

2 -7 3

- 3 .7

6. 5

3 -7 5

5 .0

l3 . 8

4- t 5

1*6

1 2 .6

1 3 7 .8

-8 .5

9 9 .2

2 3 .2 " 1 6 .7

7 9 .5

6 1 .1
- 7 .7

—4 7 . 3

4 .0

—8 • X

1 4 .3

1 6 3 .1
1 8 4 .6
1 5 7 .3

1—7 6

0 .2

6 .7

9 .7

0 .5

2 5 .0

7 .0

- 1 3 .0

4 3 .6

2 -7 6

5 .8

1 2 .5

1 6 .1

9 .0

3 1 .8

1 8 .9

7 .3

5 3 .0

6 3 .1 :

1 9 4 .6

3 -7 6

—0 . 6

4. 3

6 .2

—0 . 1

1 4 .5

2 .5

•8 *5

1 0 .0

—3 * 8 - 4 3 . 3

1 6 8 .9

4 -7 6

1 .7

6 .4

8 .3

2 .4

1 6 .3

6 .3

-2 .3

1 4 .0

5 .6

-1 5 .0

2 7 .3

1 -7 7

2 .4

7 .4

4 .3

4 .0

1 6 .3

7 .9

0 .8

1 4 .8

8 .5

- 5 .2

2 2 .5

17 2 . 2

1 7 9 .4
ll. 8

1 8 6 .9

2 -1 7

1 .6

5 .5

7 .0

2 .2

1 2 .7

5 .0

- 1 .3

9 .6

3 .8

-7 .2

9 .3

1 .2

-1 3 .0

3 -7 7

1 .8

5 .5

6 .9

2 .4

1 2 .0

5 .0

-0 .5

9 .0

4 .1

- 4 .9

8 .2

2 .5

-4 .3

5 .2

4- 7 t

3 .6

7 .1

8 .6

4 .6

1 3 .6

7 .4

2 .6

1 1 .5

7 .6

0 .3

1 2 .5

9 .0

6 .3

it. 4

3 1 .1

1 -7 8

6 .1

9 .7

1 1 .2

7 .6

1 6 .4

1 0 .9

6 .8

1 5 .5

1 2 .4

6 .5

1 8 .3

1 6 .6

1 6 .3

2 8 .1

4 1 .4

5 2 .6

1 8 0 .5
1 8 2 .8
1 9 5 .6
2 1 7 .4

2 -7 8

5 .4

9 .2

1 0 .6

7 .2

1 5 .2

1 0 .1

6 .3

1 4 .0

n .i

5 .9

1 5 .8

1 4 .0

1 3 .3

2 1 .0

2 6 .8

2 4 .7

1 .9

3 -7 8

6 .2

9 .3

1 0 .6

7 .5

1 5 .0

1 0 .2

6 .7

1 3 .8

1 1 .2

6 .6

1 5 .3

1 3 .7

1 3 .0

1 9 .1

2 2 .8

2 0 .2

6 .6

1 1 .6

4 — 78

6 .2

9 .2

1 0 .4

7 .5

1 4 .4

9 .9

6 .7

1 3 .2

1 0 .8

6 .6

1 4 .3

1 2 .8

1 2 .1

1 6 .9

1 9 .4

1 6 .6

6 .6

9 .1

6 .6

1 -7 4

2 -7 4

3 -7 4

4 —7 4

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4—76

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8




IN IT IA L

2 1 8 .4
2 2 4 .5
2 2 8 .1

QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T.

LOUIS

EMPLOYMENT

IN D IC A TO R S

T O TA L

EMPLOYMENT

SEASONALLY ADJUSTED
INDEX:

1971-100

197 1 -1 00




1 9 71-100
135
125
115
105
95

KENTUCKY

M IS S IS S IP P I

M ISSOURI

12

EMPLOYMENT

TOTAL

IN D IC A T O R S

EMPLOYMENT

SEASONALLY ADJUSTED
INOEXi

UNI TE D

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

1971-100

FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
ye a r AGO

JANUARY
1979

FEBRUARY
1979

MARCH
1979

121.7

122.2

122.4

4.0

3.7

120.0
116.3

120.5

121.0
116.8

4.8

2.6

2.8

2.4

127.7
133.1

8.4
5.6

2.4
2.4

16.1
-0.3

3.5
0 .9

-6.8
2.0
-6.0
12.7

1.7
1.0
2 .9
4.3

8.2
2.8
6 .0
2.4
3 .4

2 .9
2.2
2 .9

STATES

CMV STATE SUMMARY
CMV METROPOLI TAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LI TTLE ROCK-NORTH
LI TTLE ROCK: AR
PINE BLUFF: AR

124.4
131.8

116. 1
125.7
132.5

130.9
116.6

130.6
117.7

KENTUCKY
EVANSVILLE:
LOUISVILLE:

123.4
123.7
115.0

132.6
121.1
123.3
123.3
115. 1

M IS S IS S IPP I

125.5

123.1
123.8
114.9
126.6

MI SSOURI
ST. LOUIS: M O- 1L
SPRINGFIELD: MO

116.6
114.4
136.2

117.1
11 4.2
137.0

118.1
115.0
138.9

TENNESSEE
MEMPHIS:

117.0
107.0

116.5
107.0

117.2
107.1

IN-KY
KY-IN

TN-AR

126.3

2.2
2.0

STATE SUMMARY--TOTAL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
T e r m in a l

in it ia l

1 -7 5

—

2 -7 5

T - tT

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

- jp r r

1971*100

quarter

2 -7 7

3 -7 7

2 -7 5

- 2 .2

3 -7 5

1 .5

A—7 5

3 .4

6 .4

7 .3

1—7 6

4 .2

*•4

6 .9

6 .4

1 - 7*

3 .8

5. 3

5 .3

4 .3

2 .2

3 -7 6

3 .1

4 .2

3 .9

Z .6

1 .1

A—7 6

3 .1

4* l

3 *8

2 .9

1 *8

1 .6

3 .3

1=77

3 16

4 .5

4 .3

3 .7

3 .1

3 .4

5 .1

7 .0

2=77

4 .0

4 .B

4 .7

4 .3

3 .9

4 .3

5 .3

7 .1

7 .2

3=77

3 .9

6

4 .4

4 .0

3 .7

3 .9

5 .0

5 .5

*•8

4 —7 /

3 .7

4 .3

4 .1

3 .8

3 .4

3 .6

4 .3

4 .6

3 .6

2 .1

1 .7

1 -7 1

3 .5

4 .o

3 .9

3 .5

3 .2

3 .3

3 .9

4 .0

3 .3

2 .0

1 .7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

—
1 0 5 .3
1 0 6 .7

3 .4

1 0 6 .6
1 1 0 .3
1 1 0 .9
0 .0

110 . 9
1 1 1 .8
1 1 3 .7
1 1 5 .7

2 .4

1 1 6 .4
1 1 6 .9

1 .7

1 1 7 .4

2=73

3 .3

3. 8

3 .6

3 .2

2 .9

3 .0

3 .4

3 .4

2 .7

1 .6

1 .4

1 .2

6 .7

3 -7 1

3 .0

3 .4

3 .3

2 .9

2 .6

2 .6

2 .9

2 .9

2 .2

1 .2

0 .9

0 .7

0 .2

-0 .3

4- 7*

3 .2

3 .6

3 .4

3 .1

2 .8

2 .9

3 .2

3 .2

2 .7

1 .9

1 .9

1 .9

1 .9

2 .6

5 .6

1 -7 9

3 .3

3 .7

3 .5

3 .3

3 .0

3 .1

3 .4

3 .4

2 .9

2 .3

2 .3

2 .5

2 .6

3 .3

5 .2

4 .8

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4—7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8




I N I T IA L

"

1 1 7 .6
1 1 7 .5
1 1 9 *1
1 2 0 .5

QUARTER

PREPARED BY FEOERAL RESERVE BANK OF S T.

13

LOUIS

EMPLOYMENT

IN D IC A TO R S

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED

PERCENT

PERCENT
12
9
6
3
0

12
9

6
3
0

KENTUCKY

q

lx.i l i.i L i tli-i-i

1 1 11 1 111 11 1 11 i 11 1 1t.i 11 1 11 1 11 1 11 1 111 I i i I 11 Li t I i i lxj-Li-.i l 1 1 1,1 1 1 1 1 1 i i

M IS S IS S IP P I
12
9
6
3
0

f E N N E S S E E

12
9

—

—

6

\

_

3
0

T . 1.. 1.. 1..

. . 1. . 1. . 1. .

. . 1. . 1. . 1. .

i i 1i i 1i i 1i i

1973

1974

1975

1976

LATEST DATA PLOTTEDi MARCH



11111111111
1977

11111111111
1978

11111111111
1979

PREPARED BY FEDERAL RESERVE BANK OF S T. LOUIS

14

EMPLOYMENT

UNEMPLOYMENT

IN D IC A T O R S

RATE

SEASONALLY ADJUSTED
PERCENT
MONTHLY AVERAGE
3 MONTHS ENDING
JANUARY

FEBRUARY

MARCH

MARCH

DECEMBER

1979

1979

1979

1979

1978

5 .8

5.7

5.7

5.7

5.8

6.0
5.1

5.4

4.8

5.4

5.5

5.1

4.6

5 .0

5.4

ARKANSAS
FORT SMITHi AR-OK
LI TTLE ROCK-NORTH
LI TTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUI SVI LLE: K Y - 1N
M IS S IS S IPP I

6.2
8.0

6.2
8.7

5.7
8 .0

6 .0
8.2

7 .0
8.7

4.0
7.2

4.2
6.8

4.1
6.7

5.2

6.6
5.3
5.5
7.0

5.3
4.7
4.9

4.0
6 .3
4.8
4.7
4.8

5.6
4.9
5. 1

6.4

6 .0

6 .4

4.8
5.6
4.7
6 .8

MI SSOURI
ST. LOUIS: MO- 1L
SPRINGFIELD: MO

4.6
4.8
3.8

4.5
5 .0
3.6

3 .9
4.6
3.2

4.3
4.8
3.5

TENNESSEE
MEMPHIS:

6. 1
6.7

5.6
5.2

4.9
4.4

5.5
5.4

UNI TED

STATES

CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY

TN-AR

CIVILIAN

4.7
5. 1
4. 1
5.9
5.6

LABOR FORCE

SEASONALLY ADJUSTED
_________ mOUSANOS OF PERSONS_______

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

KENTUCKY
EVANSVILLE:
LOUISVILLE:

IN-KY
K Y - 1N

M IS S IS S IPP I

MISSOURI
ST. LOUIS: M O - 1L
SPRINGFIELD: MO

TENNESSEE
MEMPHIS:

TN-AR




JANUARY

FEBRUARY

1979

1979

MARCH

.

1979

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979
FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR AGO

102, 183.0
7,797.8

1021526•9

102,713.9

3 .8

7 , 77 9. 4

7,772.9

4.2

3.2
2.3

2,445.8
937.3
85.5

2 ,4 4 0. 4
947.2
86.5

2,442.1
958.0
86.2

1.2
4.2
3 .8

1.7
2.5
4.7

179.6
36.4
1,57 9. 0
142.2
414.9

179.7
36.6
1,555. 4
141.4
412.0

182.0
37.4

3.1
0 .8

1,549.1
140.9
412.3

10.6
-5.3
-3.4
-1 .1
-4. 1

1 ,0 1. 2
2 , 29 8. 6
1,100. 5
103.4

1 ,03. 7

996.4

10.7

1.7
1.2
2.7
4.1

2 ,3 0 6 . 0
1 ,100. 0
103.8

2,313. 1
1 ,103. 8
104.8

6 .6
1.6
3.1

1.7
0 .9
2.2

1,97 5. 8
384.2

1, 956. 5
378.3

1,954. 3
375.5

1.0
2.9

2.0
1.9

PREPARED BY FEDERAL RESERVE BANK OF ST.

15

LOUIS

EMPLOYMENT

INDICATORS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED

DOLLARS PER HOUR

HOURS PER REEK

KENTUCKY

8
6 —

—

48

—

44

4

40

2
0

T .i..i.

.i.i

uliitulii 111IItillLi till1 I I I

u

'

36

■ llli.iil.lii 1 u i i , i i n in n l n l i i l n n I n l.n li i n I n i t il i i ! 0

III.

M IS S IS S IP P I
—

4

>Tr

__ J„

8

6

r

f

48

—

44

1

40
36

2
0 ■iiliitnli i n liiL iln .

»»I..||R>IR nh lin t ii i iln ln ln n i n i u l i i 1

.I.iU a ■iiliiAi riii n il i In in .

6 —

i l l ,

MISSOURI

8

—

*

4

44
40

/■

-

2

36

0 ■ illllllllu n ln liiln n ln liiln ,n in Ini ii. n ln liiln -

n ln liiln n i l lLu .Lli. n l n l i i l n - L i in lu ln u l i t l n l i £ 1 0

TENNESSEE

8

48

-

6 —

__

-

—

44
—

____^

40

4
f

2
0

48

111111M 111 11111llI1I1 1111t111II1 Illltllllll 111I1111I 11
1975
1976
1977
1978
1979
LATEST DATA PLOTTED. MARCH




‘

36

t 1111111111 I I 111111111 I 111 I 1II I 11 11I 11I 11111 . . i . . i . . i .7»
1975

1976

1977

1978

1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

16

0

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

DOLLARS PER HOUR

UNITED

ST AT ES

FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR AGO

JANUARY
1979

FEBRUARY
1979 _

MARCH
1979

6.45

6.52

6.57

8.8

9.0

5.3

8.3

5.71

5.75

5.79

6.96

6.95

7.00

5.9

8.7

ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR

4.99
5.11

5.00
5.07

5.05
5.14

9.7
-0.8

10.3
6.6

5.67
6.44

5,60
6.38

5.72
6.44

5.3
13.8

7.4
12.4

KENTUCKY
LOUISVILLE:

6 .5 1
7.43

6.58
7.43

6.55
7.48

2.0
10.2

8.6
9.5

CMV ST A T E

SUMMARY

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

SUMMARY

K Y - 1N

M IS S IS S IP P I

4.79

4.80

4 .8 1

9.7

8.7

MISSOURI
ST. LOUI S: M O - 1L
SPR1N 6 F 1ELD: MO

6.48
7.32
5.72

6.52
7.38
5.76

6.56
7.40
5.79

3.9
1.8
14.5

8.3
7.8
13.8

TENNESSEE
MEMPHIS:

5.31
6.29

5.34
6.14

5.38
6.29

3.9
9.3

7.0

TN-AR

9.5

AVERAGE WEEKLY HOURS WORKED - MANUFACTURING
SEASONALLY ADJUSTED
MONTHLY AVERAGE
3 MONTHS END 1NG

HOURS PER WEEK
JANUARY

FEBRUARY

MARCH

MARCH

DECEMBER

1979

1979

1979

1979

1978

40. 7

4 0. 7

4 0. 8

40.7

4 0. 6

40. 2

3 9. 8

4 0. 0

4 0. 0

39.9

40.8

4 0. 7

41 .2

4 0. 9

4 0. 8

ARKANSAS
FORT SMI TH! AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR

39.7
3 9. 5

40.0
3 9. 5

39.6
39.6

39.8
39.6

39.6
39.3

4 0. 5
4 2. 7

39.7
4 2. 7

4 0. 3
4 2. 8

4 0. 2
4 2. 7

39.9
4 1. 8

KENTUCKY
LOUISVILLE:

39.9
4 0. 4

3 9. 5
3 9. 7

39.5
4 0. 7

39.6
40.3

4 0. 0
4 0. 4

UNITED

S T A T ES

CMV ST A T E

SUMMARY

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

SUMMARY

K Y - 1N

M IS S IS S IP P I

4 0. 7

40. 1

4 0. 5

40.4

39.9

MISSOURI
ST. LOUI S: M O - 1L
SP R I NGF IE L D! MO

4 0. 5
4 2. 2
3 9. 2

4 0. 0
4 1. 0
39.5

40.0
41.6
39.9

40.2
41.6
39.5

40.3
4 1. 2
39.4

T ENNESSEE
MEMPHIS:

4 0. 5
4 1. 0

40.1
41. 7

39.8
41.5

4 0. 2
41.4

39.6
40.6




TN-AR

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

17

EMPLOYMENT

INDICATORS

PAYROLL EMPLOYMENT -

SELECTED

INDUSTRIES*

SEASONALLY ADJUSTED
INDEX;

CHEMICAL,

1 97 2 -1 00
HO
u . s .

1 97 2 - 1 0 0

PETROLEUM,

AND RUBBER PRODUCTS

1972-100
HO

1
________

120 ~ S T AT E S _____
100

120
* ——

----

100

80

80

60 -L-l-l-l.l.1 l 1 1 l 1 M 1 ■ I 1 ■ ■ 1 . ■ ■1 i l l .1 1 1 1 1 1 1■-1 -1 1-1 1 1 1 1 1 1 1 1 ■ 1 . I 1 ■ 1 1 M




1111, i-i-i. i

........... ..

60

CONSTRUCTION

LUMBER AND FURNITURE
140
120
100
—I

80
60
140

120
100
80
60

18

EMPLOYMENT

PAYROLL EMPLOYMENT -

SELECTED

INDICATORS

INDUSTRIES*

SEASONALLY ADJUSTED
INOEX:

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

1972-100

FROM SAME
MONTHS A

JANUARY
1979

FEBRUARY

_.1979. -

MARCH
1979

U N I T E D S T A T ES
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

113.5
112.7
111.8
98.3
104.6

113.7
112.7
112.6
97.8
104.8

113.9
114.6
113.8
98.2
104.1

4.3
3.2
9.0
5.5
6.0

2.9
12.0
5.5
0.2
1.8

92.9

92.1

91.8

-1.3

-1 . 1

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

117.2
121.8
113.8
104.6
101.9

118.2
124.6
113.6
103.6
101.0

3.5
16. 1
6.6
4.7
8.7

1. 1
14.7
2.3
0.7
3.0

ARKANSAS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PR I N T I N G
T E X T I L E , APPAREL, AND
LEATHER
KENTUCKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
T E X T I L E , APPAREL, AND
LEATHER
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
MISSOURI
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOO AND KINDRED PRODUCTS
PAPER AND PR I NT I NG
T E X T I L E , APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT
TENNESSEE
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER -AND PR I N T I N G
T E X T I L E , APPAREL, AND
LEATHER

118. 1
122.2
114.9
104.0
102.3

FROM PREVIOUS
3 MONTHS

tear

93.9

93.7

93.3

3.5

-1.5

107. 1
134.5
115.8
98.6
130.5

104.6
133.9
115.5
100.3
131.4

109.9
133.4
114.9
100. 1
132.5

5.4
19.0
4.6
4.5
5.7

1.6
-0.4
-0.3
1.7
4.9

91.0

90.2

90.2

-3.5

-6.7

137.2
126.4
94.8
95.2
139.7

137.4
127.0
95.9
94.3
140.0

137.7
137.9
96.2
94.2
143.0

6.4
6.4
20.2
-1.7
4.7

3.4
24.0
-2.2
-2.3
9.8

93.3

92.1

91.3

0.4

-1.9

146.4
144.6
116.2
107.6

143.8
148.0
116.5
107.8

142.3
146.5
116. 1
106.4

36.1
13.0
8.7
7.4

20.9
4.9
12.3
4.0

97.9
113.6

98 . 1
112.9

98.0
109.9

2. 1
-8.8

-4.9
-13.5

111.7
114.0
95.0
106. 1

115.2
115.7
96. 1
107.3

116.8
114.7
94.7
107.0

1.8
8.8
9.3
14.7

4.3
5.9
0.3
2.4

88. 1
113.6

88.0
113.6

87.2
113.8

-3.1
2.1

-1.9
5.6

110.5
123.8
109.0
103.5
114.8

111.9
122.0
10 7 . 1
101.2
115.8

111.7
121.2
106.3
99.6
116.6

-0.7
29.7
-2.2
5.3
11.1

0.5
21 . 1
-2.1
4.3
2.7

125.2

123.8

123.5

11.4

1.6

,

IK ALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.
PREPAREO BY FEDERAL RESERVE BANK OF ST.



ago

19

LOUIS

EMPLOYMENT

INDICATORS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX:

1972-100

1 9 7 2 -1 0 0

1 9 7 2 -1 0 0

KENTUCKY

M IS S O U R I

150
130

110
90
70
150
130

110
90
70
LATEST DATA PLOTTED: MARCH




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

20

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
_________INDEX: 1972-100_______
JANUARY
1979
UNITED
CMV

S T A T ES

ST A T E

SUMMARY

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

SUMMARY

ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE 6 L U F F : AR
KENTUCKY
EVANSVILLE:
LOUISVILLE:

I N- KY
K Y - 1N

M ISS ISS IPP I
MISSOURI
ST. LOUIS: M O - 1L
SPRI NGFI ELD: MO
TENNESSEE
MEMPHIS:

TN-AR

FEBRUARY
1979

MARCH
1979

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979
FROM SAME
MONTHS A
FROM PREVIOUS
3 MONTHS
YEAR AGO

108.6
109.8
102.0
118.6
137.9

109. 1
109.9
101.7
118.8
135.8

109.7
109.6
102.0
118.8
133.6

6.5
5.7
3.2
7.4
12.4

3.8
1.7
2. 1
1.3
3. 1

111.4
107.1
110.1
103.4
99.2
115.1
104.8
99. 1
96.5
108.8
103.9

109.9^
106.8
110.6
104.3
99.7
115.8
104.8
99. 1
101.8
108.2
103.3

108.6
106.7
111.3
105.2
100.7
114.3
104.5
98.7
101.5
107.7
102.0

2.2
-2.2
7.6
-3.0
4. i
4.7
5. 1
5.0
-1.6
4.6
2.4

-3.6
-1.0
2.3
-2.2
2.6
0.9
2.3
3.4
-0.6
1.2
2.4

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED

ST A T ES

CMV ST AT E

SUMMARY

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

SUMMARY

ARKANSAS
FORT SMITH: AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI NE BLUFF: AR
KENTUCKY
EVANSVILLE:
LOUISVILLE:

I N- KY
K Y - 1N

M ISS ISS IPP I
MlSSOUR1
ST. LOUI S: M O - 1L
SPRI NGF I EL D: MO
T ENNESSEE
MEMPHIS:




TN-AR

FEBRUARY
1979

MARCH
1979

122.4
127.4
119.7
131.3
134.5

122.7
127.2
119.6
131.0
134.7

123.3
127.8
118.9
131.6
135.5

3. 1
4.3

4.4
5.2
2.8
3.9
3.6

132.2
125.6
135.1
127.2
126.0
136. 1
118.8
112.6
133.8
127.7
117.9

132.0
125 .B
134.8
127.2
128.1
136.6
118.8
112.3
134.6
127.0
117.5

132.4
127.4
137.0
127.8
119.7
136.5
119.0
113.9
136.5
126.6
117.2

11.0
-2.2
5.5
-1.6
-5.8
7.7
2.7
-0.7
1.5
6.5
2.4

4. 1
1.1
10.6
2.9
5.4
7.8
2.2
2.0
3.3
4.2
1.9

3.3
4.6
CM

UNITED

JANUARY
1979

i
o

_________INDEX: 1972-100_______

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

21

EMPLOYMENT

INDICATORS




PAYROLL

EMPLOYMENT

SEASONALLY ADJUSTED

INDEX:

1972-100

ARKANSAS

130
120
110
100
90

KENTUCKY

130
120
110
100
90

MISSOURI

130
120
110
100
90

22

EMPLOYMENT

PAYROLL

INDICATORS

EMPLOYMENT

SEASONALLY ADJUSTED

INDEX: 1972"100
1 9 7 2- 1 00
130

1 97 2- 100

—

120
110
100
90

E V A N S V IL L E :

IN-KY

130

120

130
—

—

1 10

110

100
90

100
1 I I 1 1 1 1 1 1 1 1

1 1 1 1 1 1 1 1 1 t 1

. . 1 . . 1 . . 1 . .

S T.

1 1 1 » 1 1 1 » 1 1 1

LOUIS:

. ■ 1 ■ . 1 ■ ■ 1 ■ ■

» i 1 i i 1 i i 1 i i

1 1 1 1 1 1 l 1 1 l l

90

M O - 1L

130

130

120 —

—

110

120
110

100
90

120

100
1 1 1 1 1 1 1 1 1 1 1

1 1 1 1 1 1 1 1 1 1 1

1973

1974

. .

i . .

i . .

1975

i ..

..

I . .

I . .

1976

LATEST DATA PLOTTED. MARCH




I ..

, . 1 . . 1 . , 1 , ,

i i 1 . , 1 . , 1 , .

1977

1978

t . 1 . 1 1 . .

i . 7

1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

23

90

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX:

UNITED
CMV

FROM SAME
MONTHS A
YEAR AGO

JANUARY
1979

FEBRUARY
1979

MARCH
19 7 a

118.8

1 19 . 2

119.8

4.5

4.3

1 22 . 2

1 22 . 2

122.3

4.7

4.2

S T AT ES

ST AT E

1 9 7 2 - 100_________

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

SUMMARY

FROM PREVIOUS
3 MONTHS

114.8

114.6

1 14. 1

0.7

2.6

ARKANSAS
FORT SMIThs AR-OK
L I T T L E ROCK-NORTH
L I T T L E ROCK; AR
PI NE BLUFF: AR

126.8
135.4

127.2
134.9

127.5
134.8

3.5
6.5

3. 1
3.4

127.4
121.9

127.6
121.6

127.5
122.5

9.3
-1.3

2.7
0.7

KENTUCKY
EVANSVI LLE:
LOUISVILLE:

128.4
119.3
118.7

128.5
119.2
118.9

130. 1
119.6
113.3

6.4
-0.7
-3.7

8.6
1.3
4.7

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

SUMMARY

I N- KY
KY-IN

M IS S IS S IP P I

129.4

129.8

129.6

7.1

5.7

MISSOURI
ST. L OU I S: M O - 1L
SP RI NG F IE L D: MO

115.0
108.6
124. 1

115.1
108.6
125.4

115.2
109.4
126.6

2.8
1.1
0.3

2.2
2.4
2.5

TEN N ES SEE
MEMPHIS:

121.1
115. 1

120.9
114.7

120.4
114. 1

5. 8
2.1

3.2
2.0

TN-AR

STATE SUHNARY-TOTAL PAYROLL EMPLOYMENT
CONPOUNOEO ANNUAL RATES OF CHANGE
.TERMINAL
QUARTER

I N I T I A L QUARTER
1 -7 5

2 -7 5

2 -7 5

"

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

1 9 7 2 *1 0 0
4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

- 2 .2

1 0 3 .6

M 5

1 .2

4 .7

♦ -7 5

3 .1

5 .9

7 .0

1 -7 4

4 .1

6 .4

7 .2

7 .3

Z -7 6

3 .7

5. 3

5 .5

4 .7

2 .2

5 -7 8

3 .4

6

4 .6

3« 8

2 .0

1 .8

W 6

3 *3

4 .3

4 .2

3 .5

2 .2

2 .2

Z *6

1=77

3 .5

4.3

4 .3

3 .7

2 .9

3 .1

3 .7

4 *8

2 -7 7

4 .0

3 .8

4 .2

5 .0

6* 3

.

-

3 -7 5

d

4. 8

1 0 4 .8
1 0 6 .6

*•8

1 0 8 .5
1 6 9 .1
1 6 6 .6
1 1 0 .3
1 1 1 .6
7 .7

il3 .7

1 1 4 .8

3—7 7

4 .0

4 .7

4 .7

4 .3

3 .8

4 .2

4 .7

5 .5

5 .8

3 .5

A—7 7

4 .1

4 .7

4 .7

4 .5

4 .0

4 .4

4 .9

5 .4

5 .7

4 .6

5 .3

1 -7 8

4 .0

4 .4

4 .6

4 .3

4 .0

4 .2

4 .6

5 .0

5 .1

4 .2

4 .4

3 .5

2 -7 *

4 .2

4 .8

4 .8

4 .6

4 .3

4 .5

4 .9

5 .3

5 .4

4 *8

5 .1

3 .0

4 .1

1 1 6 .3

T T T 3—
6 .6

1 1 9 .2

3—7B

4 .0

4 .5

4 .5

4 .2

3 *9

4 .1

4 .4

4 .7

4 .7

4 .1

3 .7

3 .8

1 .0

4 -7 1

4 .0

4 .5

4 .5

4 .3

4 .0

4 .2

4 .4

4 .7

4 .6

4 .1

4 .2

3 .9

4 .0

2 *7

4 .4

1 -7 7

4 .1

4 .5

4 .5

4 .3

4 .0

4 .2

4 .4

4 .7

4 .6

4 .2

4 .3

4 .0

4 .2

3 .4

4 .6

4 .7

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8




1 1 9 .5
1 2 0 .8
1 2 2 .2

I N I T I A L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

24

PRODUCTION AND P R IC E

INDICATORS

PROSPECTIVE CROP PLANTINGS

1977

1978

1979 Indicated

Percent Change
1978 to 1979

<1,000 Acres)
ALL CORN
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

83,568
55
1,650
250
2,900
900

79,719
40
1,570
215
2,400
820

79,209
50
1,450
200
2,300
820

- 0.6
25.0
- 7.6
- 7.0
- 4.2
0.0

45,347
370
125
90
1,280
172

42,855
310
110
65
1,010
163

39,297
300
106
70
1,000
149

- 8.3
- 3.2
- 3.6
7.7
- 1.0
- 8.6

2,261
840
112
17

3,080
1,180
220
30

2,944
1,100
210
34

- 4.4
- 6.8
- 4.5
13.3

58,760
4,650
1,350
3,750
4,730
2,320

64,044
4,750
1,450
3,900
5,500
2,530

68,801
4,750
1,630
4,100
5,600
2,900

7.4
0.0
12.4
5.1
1.8
14.6

13,619
950
1,380
270
325

13,292
820
1,180
210
250

14,300
840
1,200
230
250

7.6
2.4
1.7
9.5
0.0

BARLEY,* OATS,* AND SORGHUM
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee
RICE
UNITED STATES
Arkansas
Mississippi
Missouri
SOYBEANS
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee
UPLAND COTTON
UNITED STATES
Arkansas
Mississippi
Missouri
Tennessee

*

Includes acres planted in preceding fall




25

PRODUCTION AND PRICE

INDICATORS

E L E C T R I C POWER CONSUMPTION
SEASONALLY ADJUSTED
INDEX:

CHEMICAL,

1 97 1 -1 00

PETROLEUM,

TEXTILE,

APPAREL,

LATEST DATA PLOTTED: MARCH




AND RUBBER PRODUCTS

AND LEATHER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

26

PRODUCTION AND P R IC E

ELECTRIC

IN D IC A TO R S

POWER CONSUMPTION

SEASONALLY ADJUSTED
_______ IMP e x , i g i m & q ______
JANUARY

FEBRUARY

MARCH

1a™

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC MARCH 19T9
FROM PREVIOUS
__ 3 MONTHS__

FROM SAME
MONTHS A
YEAR ACO

i»Y9

u ra.—

126.3

12T.0

127.3

121.1

121.7

116.9

11.0

2.6

120.5

121.0

116.8

11.1

1.9

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

124.0
103.8
151.6
200.8
152.4
160.9
103.0
112.4
123.4

124.1
102.8
153.8
197.0
142.3
154.3
113.9
105.1
121.6

121.1
107.9
149.6
190.7
143.9
148.3
113.9
99.2
119.5

-10.3
17.3
27.0
1.4
10.2
49.6
-44.0
-5.8
17.9

-0 .6
4.7
8 .6
-0.6
7 .9
10.4
-11.3
-1.8
7.4

NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES, AND
TOBACCO
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

119.3

119.9

114.3

20.2

2.9

120.5

120.3

112.9

23.7

3.7

125.7
111.4

122.5
117.4

123.2
114.3

-12.5
- 5 .1

1.2
-0.9

93.0

92.7

95.0

41.0

4.9

151.1

166.6

149.6

48.3

43.5

UNITED STATES
N
•
(VI

TOTAL MANUFACTURING AND MINING

8.2

EIGHTH DI ST RI CT
TOTAL MANUFACTURING AND MINING
MANUFACTURING

MI NI NG




PREPARED BY FEDERAL RESERVE 8ANK OF S T. LOUIS

27

PRODUCTION AND PR IC E

INDICATORS

VALUE OF CONSTRUCTION CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX: 1 97 4 - 1 0 0
1 97 4- 100
330
1i
- u.s.
____
STATES .... .
250

TOTAL

1 97 4 -1 00
330

B U ILD IN G

— 250

170

170

90

90

10 ___i___i___i__ __ i___i___i___ ___i___i___i__ ___i___i___i___ ___i___i___i___ ___i___i___i___ __ i___i___i___
1975
1976
1977
1978
1979
1973
1974

10

RESID EN TIA L




B U ILD IN G

NONRESI DENT IA L

KENTUCKY

28

B U ILD IN G

PRODUCTION AND P R IC E

IN D ICATO RS

VALUE OF CONSTRUCTION CONTRACTS LET*
NOT SEASONALLY ADJUSTED
INDEX. 1974-100

4TH

TOTAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LI TTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF* AR
KENTUCKY
EVANSVILLE* IN-KY
LOUISVILLE* K Y - I N
M I S SI SS IPP I
MISSOURI - EAST
ST. LOUIS* MO-1L
SPRINGFIELD* MO
TENNESSEE - VEST
MEMPHIS* TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHANCE______
1ST OTR 1978

1ST OTR 1977
TO
1ST OTR 197V

QUARTER
1978

1ST
QUARTER
1979

164.2
178.2
139.1
176.4
163.6

159.9
171.5
171.8
175.1
196.2

19.7
25.8
40.0
0.5
20.7

24.2
20.5
13.6
33.9
-22.6

132.1
58.3
209.6
202.0
159.2
201.2
161.6
139.6
209.7
106.7
104.7

156.2
170.0
165.1
184.9
114.8
180.5
152.8
186.2
145.6
201.3
204.0

0.4
242.7
13.6
14.7
-17.8
16.5
51.9
67.0
-31.5
106.5
126.4

31.3
-31.4
13.6
-19.5
14.1
32.0
6.9
25.7
16.4
17.8
18.1

202.4
217.4
168.5
233.9
220.1

184.5
185.5
148.3
209.1
186.9

15.0
-0.1
-8.4
-7.4
-8.8

20.7
37.7
26.2
36.7
15.3

156.6
167.2
219.0
288.3
147.8
250.8
208.1
164.0
306.8
154.1
142.1

156.4
138.7
197.8
263.0
135.2
219.3
125.4
127.3
197.1
155.2
144.4

3.9
21.8
6.9
45.2
-25.3
6.6
-16.0
-15.5
-26.4
5.0
8.1

6.6
23.0
42.4
13.5
87.3
53.5
27.5
25.6
3.9
17.6
6.8

125.5
134.1
110.0
101.4
58.1

135.1
155.8
194.8
130.6
208.1

26.7
93.1
132.5
22.2
152.5

29.8
-6.8
-4.6
26.7
-68.7

156.1
182.7
121.9
72.5
93.6
131.0
177.9
240.3
90.0
245.5
254.5

-4.3
677.4
29. 1
-40.9
-3.2
45.1
217.7
217.4
-41.1
400.0
377.5

89.4
-63.3
-22.7
-47.4
-35.1
7.0
-22.0
26.0
50.4
18.3
51.9

1ST OTR 1979

RESIDENTIAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LI TTLE ROCK-NORTH
LITTLE ROCK* AR
PINE BLUFF* AR
KENTUCKY
EVANSVILLE* IN-KY
LOUISVILLE* K Y - I N
M I S S IS S I PP I
MISSOURI - EAST
ST. LOUIS* MO-1L
SPRINGFIELD* MO
TENNESSEE - VEST
MEMPHIS* TN-AR-MS
NONRES1DENT 1AL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LITTLE ROCK-NORTH
LI TTLE ROCK* AR
PINE BLUFF* AR
KENTUCKY
EVANSVILLE* IN-KY
LOUISVILLE* K Y - I N
M I S SI SS I PP I
MISSOURI - EAST
ST. LOUIS* MO-1L
SPRINGFIELD* MO
TENNESSEE - VEST
MEMPHIS* TN-AR-MS

97.1
14.2
198.5
103.2
170.9
138.0
119.0
117.1
105.0
61.2
73.1
X USED WITH THE PERMISSION OF DODGE CONSTRUCTION
POTENTIALS, MCGRAW-HILL INFORMATION SYSTEMS COMPANY




PREPARED BY FEDERAL RESERVE BANK OF S T. LOUIS

29

PRODUCTION AND PR IC E

INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
INDEX:

1 97 4 -1 00

1 97 4 -1 00

1 9 7 4- 1 00

ARKANSAS
420

420

320

— 320

220

220

120

120

20

■111 1l 1 Ll.I L 1., 1 l 1 i 111 1 11 1 t 1 1 11t 11 1 11 i . l . . I . . ! . . -.1L L.J 111 L-i L.I. ■i-t-Li-l J.l L1 1i ■^ L u l t-tl.i- I




20

KENTUCKY

420
320
220
120
20

M IS S O U R I

TENNESSEE

30

PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS

PRODUCTION AND P R I C E

INDI CA1

HOUSING PERMITS
SEASONALLY ADJUSTED

FEBRUARY
1979

MARCH
1979

FROM PREVIOUS
3 MONTHS

135.9

129.8

139.7

-40. 1

-10.0

86.2

152.5

-74.8

-24.4

96.3

91.6

103.7

-88.0

-35.4

62.5

92.1

176.6

-20.1

58.9

104.4

133.5

-13.0

-17.6

115.9

STATES

CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
LITTLE ROCK-NORTH
LITTLE ROCK: AR
KENTUCKY
LOUISVILLE:

K Y - 1N

M ISSISSIPPI
MISSOURI
ST.

L OU IS :

M O - 1L

TENNESSEE
MEMPHIS:

FROM SAME
MONTHS A
YEAR AGO

JANUARY
1979

i
A
ID

UNITED

1974** 100

CO
00
on

INDEX:

COMPOUNOEO ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

TN-AR-MS

80.5

163.5

-84.4

-17.5

89. 1

43.5

51.2

-96.7

-45.8

95.3

71.7

115.4

-70.4

-17.6

81.2

83.9

156.6

-85.0

-35.0

110.3

123.7

129.1

-85.9

-26.0

111.3

90.5

122.0

-80.0

-23.6

75.3

73.4

125.5

-81.1

-45.2

STATE SUMMARY-HOUSING PERM ITS
COMPOUNDED ANNUAL RATES OF CHANGE
IN IT IA L

T e r m in a l
QUARTER
1 -7 5
2 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

QUARTER

1 9 7 6 -1 0 0

3 -7 7

2 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8
9 1 .1

9 5 .9

3 -7 5

7 5 .8

4 -7 5

6 6 .6 ” 2575“

5 7 .8

1 -7 6

6 6 .5

5 5 .2

1 0 2 .1
2 .0
5 4 .0

1 0 2 .6
1 3 2 .6

1 2 6 .7

2 -7 6

2 4 .5 ” 137 6"

3 -7 4

3 7 .5

ZB . 1

z i.s

2 8 .9

-4 .1

9 Z .9

4 -7 4

4 9 .4

6 2 .8

4 0 .0

5 1 .6

3 1 .4

1 1 8 .1

1 4 6 .5

1=77-

3 9 .6

32. 8

2 9 .0

3 5 .Z

16.1

5 9 .7

4 5 .3

-1 4 .3

2 - /1

6 0 .8

35. 1

3 Z .1

3 7 .9

2 4 .2

5 7 .8

4 7 .6

!4 .2

5 2 .3

4 .2

5 .3 - 5 2 .3

1 0 5 .3
1 2 4 .1
1 5 5 .5
149T6
1 6 6 .2

3 -7 7

6 0 .7

35. 6

3 3 .0

3 8 .2

2 6 .7

5 4 .0

4 5 .6

2 2 .2

4 5 .9

3 9 .7

6 —7 7

3 2 .9

2 7 .9

2 4 .9

2 8 .2

l7 .7

3 6 .8

2 7 .7

8 *4

1 7 .2

2 .8

- 2 4 .4

1=75

2 6 .5

1 9 .5

1 6 .2

1 7 .9

8 .3

2 1 .8

1 2 .8

- 3 .6

- 0 .7

-1 3 .9

-3 2 .4

-3 9 .5

a -7 8

2 5 .5

2 0 .9

1 8 .0

1 9 .7

1 1 .2

2 3 .7

1 6 .0

2 .3

6 .1

- 3 .1

-1 4 .3

-8 .7

3 7 .8

3 -7 8

2 3 .3

1 9 .0

1 6 .3

1 7 .7

9 .9

2 0 .6

1 3 .7

1 .8

4 .8

- 2 .8

-1 1 .2

—6 . 3

1 6 .7

6 —7 8

2 1 .3

1 7 .2

1 4 .5

1 5 .6

8 .5

1 7 .8

1 1 .5

1 .0

3 .4

-3 .0

-9 .9

-5 .8

9 .2

- 2 .8

- 6 .6

1 -7 9

9 .9

5 .8

2 .8

2 .8

-3 .9

2 .4

-3 .9

-1 3 .4

-1 3 .3

-2 0 .0

-2 7 .1

-2 7 .7

-2 4 .4

-3 8 .1

-5 1 .0

- 7 6 .8

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

6 -7 8




1 8 0 .7
1 6 8 .5
1 4 8 .6
1 6 1 .0
-1 .2

1 6 0 .5
1 5 8 .7
112 . 4

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T. LOUIS

31

PRODUCTION AND PR IC E

INDICATORS

PRICES RECEIVED BY FARMERS -

UNITED STATES

NOT SEASONALLY ADJUSTED

CORN

BEEF CATTLE
350
—

—

.✓

270
190
110

j-iL n J n ln . n l n l n l n j-ii.n ii.il i±. n l n l n l n ooiioJ1111Li.

R IC E

30

BROILERS

350

350
—

270 —

—

270

190

190

11 0

11 0

30 ■ iilii In In . n l n l n l n n l n l n l n n l n l n l n n l u Ijl I j-l

n ln ln ln

n ln ln ln

11

11 1 1n 111 n i n i n l n n l n l n l n

350

350
—

270 —

—

/

A

V

—

110

110

n ln ln ln -

i i I i i LijI u

j- iliilu L u ■1111111111 n l n l n l n .

J - l l l I 1 1.11 L L 1 1 1 I I

Inin n ln ln ln

J -lIlllu l-U -

.n Lit I n i n

350
—

—

270 —

—

270
190

190

110

110

n l n l n l n , n l n l n l n .n ln J n ln i ill iln J ii. n l n l n l n

■nlnlnln n l n l n l n

UPLAND COTTON

u l i i l i 1111 j i l u In I n 1111 li 11.1i L

30

TURKEYS
-------------- 1

350

-

270 —

-

.

-

190

350
270
190

110

30

30

MILK

TOBACCO
350

30

270
190

190

30

30

HOGS

SOYBEANS

110

II 111111111 11111111111 11111111111 11111111111 11111111111
1975
1976
1977
1978
1979
LATEST DATA PLOTTEDi MARCH




i i 1i i 11i 11i 11111111111 11111111111 111II 111111 11111111111
1975
1977
1976
1978
1979
PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS

32

30

PRODUCTION AND PRICE

PRICES

RECEIVED

BY FARMERS -

UNITED

INDICATORS

STATES

NOT SEASONALLY ADJUSTED
INDEXs

LIVESTOCK AND LIVESTOCK
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

1971-100

FROM SAME
MONTHS A
ye ar AGO

. 1 978. -

FEBRUARY
1979

MARCH
1979

FROM PREVIOUS
3 MONTHS

205.9

213.8

218.3

46.3

24.2

194.4

200.9

199. 1

24.3

10.9

166.4
152.1
223.9
173.3
229.5

171.9
148.3
237.8
154.7
222.1

175. 1
154.2
243.3
144.3
215.2

31.4
13.4
37.3
-43.7
-31.4

6.0
-26.3
18.0
-6.0
9.2

214.3

224.5

233.0

206.3
196.2
282.3
202.7
215.4

221.2
210.1
294.6
202.7
205.8

242.2
210. 1
275.6
201.0
198.0

JANUARY

ALL FARM PRODUCTS
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

64.8

35.0

122.8
68.8
20.8
10.8
-14.9

60.5
18.0
10.3
16.4
20.2

PRI C E S — ALL FARM PR O D U C T S
C O M P O U N D E D AN N U A L R A TES OF C H A N G E
T ERMINAL
QUARTER

1971*100

I NITIAL QUA R T E R
1 -7 5

2 -7 5

3 -7 5

2- 7$

1 3 .4

3-75

2 0 .6

2 8 .3

4 -7 5

8 .3

5 .9

- 1 2 .6

1 -7 6

5 .2

2 .6

- 8 .2

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4—7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8
1 6 1 .8
1 7 2 .2
1 6 6 .5

- 3 .6

1 6 5 .0

2 -7 6

6 .9

5 .3

- 1 .4

4 .7

1 3 .7

3 -7 4

5 .5

2. 8

—2 m8

0 .7

2 .9

—6 . 9

4 —7 6

- 0 .1

- 2 .2

- 7 .4

—4 . 1

- 6 .9

- 1 5 .8

- 2 3 .8

i—7 7

2 .8

1 .3

- 2 .6

- 0 .4

0 .4

- 3 .7

- 2 .1

2 5 .7

2 -7 7

3 .2

2 .0

- 1 .3

0 .7

1 .6

- 1 .2

6 .7

1 5 .4

6 .7

3 -7 7

- 0 .1

- 1 .5

- 4 .7

- 3 .5

- 3 .5

—6 . 6

- 6 .5

0 .1

- 1 0 .7

- 2 5 .2

4=77

0 .5

—0 . 7

- 3 .5

- 2 .2

- 2 .1

- 4 .5

- 4 .0

1 .7

- 5 .2

- 1 0 .6

6 .8

1 -7 8

3 .0

2. 1

- 0 .2

1 .3

1 .9

0 .3

1 .5

7 .6

3 .4

2 .4

1 9 .8

3 4 .4

2 -7 8

6 .0

5 .4

3 .5

5 .3

6 .3

5 .4

7 .3

1 3 .6

1 1 .3

1 2 .5

2 8 .9

4 1 .6

4 9 .1

3 -7 8

5 .5

4 .9

3 .2

4 .8

5 .6

4 .8

6 .3

1 1 .5

9 .3

9 .9

2 1 .0

2 6 .1

2 2 .1

0 .0

4 -7 8

5 .8

5 .2

3 .6

5 .1

5 .9

5 .2

6 .6

1 1 .2

9 .3

9 .7

1 8 .5

2 1 .6

1 7 .6

4 .4

8 .9

1 -7 9

7 .9

7 .6

6 .2

7 .8

8 .8

8 .4

1 0 .1

1 4 .6

1 3 .3

1 4 .3

2 2 .7

2 6 .1

2 4 .2

1 6 .8

2 6 .3

4 6 .3

1 -7 5

2 -7 5

3 -7 5

4 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8




1 7 0 .4
1 6 7 .4

1 6 5 .6
1 6 8 .3
1 5 6 .5
1 5 9 .1
1 7 1 .3
1 8 9 .3
1 8 9 .3
1 9 3 .4
2 1 2 .7

INITIAL Q U A R T E R

PREPARED BY FEDERAL RESERVE BANK OF S T.

33

LOUIS

FINANCIAL

INDICATORS

MET ROPOL I T AN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEXs
1974-100

210

TOTAL

1974-100

TOTA L DEPOSI T S

LOANS

-

u . s .

- U.S.
SMSA15

.—

SMSA15 ,

1 70

,974’

1
i

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

—

210
17 0
130

13 0
__

90

90
50

-L i 1 1 1 111.1 1 1 11 111! 1 1 1 M ■l-tli-Lll 1 i J-l.

1975

1976

1977

■■I ■■I ■■I ■

11111111111

1978

1979

■i1111111111 111i.iiiilii 11111111 ll1 I1111111 1j-l. 111II1111ll.
1975

EVANSVILLE:

1976

1977

1978

1979

50

IN-KY

210

210

170

170

13 0

130

90

90

50

50

210
170
130
90
50

LOUISVILLE:

MEMPHI S:

KY-IN

T N - A R - MS
210
—

—

170
130

—

—

| ,| | | ,
7 i 1111

ST.

LOUIS:

11 L i h i l l i ■I - L l l . i l 1 1 1-1—L. ■11 1 I I I j ..i L . l 1 1 I u

I

l l

L

l l

210
—

—

—

—

1 30

170
130

------------ ^

90
50

50

MO-IL

210
170

90

90
7.1. ..l i . l . .
1975

1976

1111 111 111 1 11111111111 11111111111
1977
1978
1979

LATEST DATA PLOTTED: MARCH



11111111111 11111111111
1975
1976

1111111111l
1977

1978

1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

34

50

FINANCIAL

INDICATORS

METROPOL 1TAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX:
JANUARY
1979

I.QTAL LQAUS.
UNI TED STATES
^
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVI LLE: 1N-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMI TH: AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
LOUISVILLE: K Y-IN
MEMPHIS: TN-AR-MS
PI N E BLUFF: AR
ST. L OUI S: M O - 1L
S P R I N GF I EL D : MO
TEXARKANA: AR

I.PTAL DEPOSITS
UNI TED STATES
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVI LLE: 1N-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMI TH: AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
LOUISVILLE: K Y-IN
MEMPHIS: TN- AR-MS
P I N E BLUFF: AR
S T . L OUI S : M O - 1L
S P R I N GF I EL D : MO
TEXARKANA: AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

1974-100

FEBRUARY
1979

MARCH
1979

FROM PREVIOUS

3 MONTHS

FROM SAME
MONTHS A
YEAR AGO

N. A.
141.0
173. 1
177.2

N.A.
143.5
172.3
178. 1

N.A.
145.0
175.0
162.4

N.A.
8.5
24.4
24.9

N.A.
14.0
18.3
20.3

210.7
167.7

217.3
170.5

215.2
168.3

3.8
-0.7

7.4
7.9

150.4
154.0
103.6
152.6
143.3
127.2
172.5

155. 1
159.8
103. 1
162.3
143.7
131.5
177.0

159.5
162.5
102.6
1 61. 1
144.8
13 1 . 1
176.9

-13.2
6.8
2.0
17.6
16.9
20.4
10.2

2.2
21.8
3.6
12.6
18.3
-16.8
17.2

N.A.
133.8
163.6
166.9

N.A.
134.3
164.7
167.3

N.A.
134.3
169.4
1 67. 1

N.A.
1.2
2.0
9. 1

N.A.
5.7
1 2. 2
11.9

176.8
165.0

180. 1
171.7

182.3
169.8

6.4
11.1

144.3
159.5
115.2
149.8
121.6
119.4
160.7

144.7
161.3
113.6
152.8
121.5
120.7
160.3

146.0
161.0
111.7
157.3
122. 1
122. 1
162.4

-9.3
14.4
4.3
19.6
-7.8
9. 1
6.5

7. 1
8.5
1.3
17.0
1.0
9.8
3. 1
-19.0
8.4

AVERAGE NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIGHTH DISTRICT )
METROPOLITAN SUMMARY*
NONMETROPOLITAN SUMMARY
ARKANSAS
F AYETT EV1L L E S P R 1NGDALE: AR
FORT SMI TH: AR
L I T T L E ROCK-NORTH
L I T T L E ROCK: AR
PI N E BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
LOUISVILLE: K Y-IN
NONMETROPOLITAN AREAS
ILLINOIS
NONMETROPOLITAN AREAS
INDI ANA
EVANSVI LLE: 1N-KY
NONMETROPOLITAN AREAS
MISSISSIPPI
NONMETROPOLITAN AREAS
MISSOURI
COLUMBIA: MO
ST. L OU I S : MO - 1L
S P R I NG F I EL D : MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLITAN AREAS

JANUARY
1979

FEBRUARY
1979

MARCH
1978

406.00
121.80
282.20
74.80

404.00
121.00
281.00
74.00

403.33
121.00
260.33
74.00

419.00
127.00
290.00
78.00

6.00
3.00

6.00
3.00

6.00
3.00

6.00
3.00

7.00
4.00
3.00
49.80
41.00
6.00
31.00
129.00
103.00
40.00
13.00
27.00
17.00
16.00
90.20
4.00
61.60
4.00
46.40
14.00
8.00
9.00

7.00
4.00
3.00
49.00
41.00
8.00
31.00
129.00
103.00
40.00
13.00
27.00
17.00
16.00
89.00
4.00
61.00
4.00
46.00
14.00
8.00
9.00

7.00
4.00
3.00
49.00
41.00
8.00
31.00
128.33
102.33
40.00
13.00
27.00
17.00
16.00
89.00
4.00
61.00
4.00
46.00
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
65.00
5.00
51.00
15.00
9.00
9.00

X EXCLUDES BANKS IN TWO METROPOLITAN AREAS




MARCH
1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

FINANCIAL

I NDI CATORS

NONMETROPOL I T AN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1 9 7 4 - 1 0 0

TOTAL D E P O S I T S

1974-100
210

170
130
90

1975

1976

1977

1978

1979

5°

NONMETROPOLITAN ARKANSAS

NONMETROPOLITAN KENTUCKY

NONMETROPOLITAN M I S S I S S I P P I

NONMETROPOLITAN MI SSOURI
210

170
130
90
50

NONMETROPOLITAN TENNESSEE
210

210

170 —

—

170

130

130

90
50

90
11111111111 11111111111 11111111111 11111111111 11111111111
1975
1976
1977
1978
1979
LATEST DATA PLOTTED■ MARCH




1975

1976

1977

1978

1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

36

50

FINANCIAL

INDICATORS

NONMETROPOLI TAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX:

COMPOUNDED ANNUAL
RATES OP CHANGE
3 MONTHS ENDING MARCH 1979

1974-100

FROM SAME
MONTHS A
YEAR ACO

JANUARY
1979

FEBRUARY
1979

MARCH
1979

FROM PREVIOUS
___ 3 MONTHS___

166.3

167.3

168.9

0.5

9.5

151.0
192.5
171.5
179. 1
156.5
153.5
147.9

148. 1
195. 1
173.5
179.7
158.7
155.5
149.7

148.9
198.0
173.7
182.2
161.2
15 7 . 1
149.6

-12. 1
12. 1
14.6
4.8
2.3
-7.6
-5.9

4.2
12.3
17.0
12.5
13.3
4.2
9.7

146. 1

146.9

147.4

-2.2

4.7

136.9
154.0
1 44. 1
161.6
155.3
136.2
140.2

134.6
155.4
145.6
163.5
157.4
137.5
141. 1

135.0
155.9
145.6
165.3
157.0
136.2
140.5

-8.7
2.6
7.2
4.0
0.6
-13.6
0.0

1.0
5.2
9.5
9.4
11.1
-2. 1
10.3

TOTAL LOANS
NONMETROPOLITAN SUMMARY
ARKANSAS
I LLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE
TOTAL DEPOSITS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISS1SSIPP1
MISSOURI
TENNESSEE

MEMBER BANK DATA BY S T AT E
SEASONALLY ADJUSTED
INDEX:

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

1974-100

JANUARY
1979

FEBRUARY
1979___

MARCH
1979

147.9

149.9

151.3

156. 1
171.6
168. 1
160.6
157.8
144.9
106.6

158.0
174.6
169.6
165.3
160.4
145.4
107.8

137.9
145.3
140.4
150.3
161.8
158. 1
125.4
117.7

FROM PREVIOUS
___ 3 MONTHS

FROM SAME
MONTHS A
YEAR ACO

TOTAL LOANS
STATE SUMMARY
(EIGHTH DISTRICT )
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

5.5

12.6

159.8
176. 1
172.2
168.2
163.2
146.7
107.6

-7.0
17.6
21.0
5.3
3.3
11.8
0.4

5.1
13.1
18.4
19.6
13.5
14.8
4.4

138.6

138.8

-0.3

5.4

145.5
142.0
151.7
163.5
160.4
125.5
116.6

146.4
142.0
151.6
165.0
160.0
126.6
115.0

-3.5
7.4
9.5
9.1
1.3
-10.7
3.2

3.2
4.9
11.2
14.6
11.9
1.0
2.2

TOTAL DEPOSITS
STATE SUMMARY
(EIGHTH DISTRICT )
ARKANSAS
ILLI NOIS
INDIANA
KENTUCKY
MI SSISSI PPI
MISSOURI
TENNESSEE




PREPARED BY FEDERAL RESERVE BANK OF ST.

37

LOUIS

F I N AN C IA L

INDICATORS

SAVI NGS AND LOAN A S S O C I A T I O N DATA
SEASONALLY ADJUSTED
INDEX:

1974-100

KENTUCKY
260

220
180

140

100




TENNESSEE
260
—

—

220
180
140

•** 111111111 111111111l 1 111111111l 1 1111111111l 11111111111
1975
1976
1977
1978
1979

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

38

100

FINANCIAL

INDI CATORS

S A V I N G S AND LOAN A S S O C I A T I O N DATA
SEASONALLY ADJUSTED
INDEX.

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: K Y - 1N
MI SSISSI PPI
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: K Y - 1N
M I S SI SS IPP I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

1 9 7 4 - 1 0 0 _________

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1979

JANUARY

FEBRUARY

MARCH

FROM PREVIOUS

FROM SAME
MONTHS A

1979

1979

1979

___? .MONTHS__

YEAR AGO

185.7
187.4
178.2
201.6
186.5

187.2
188.9
179.6
203.3
187.8

188.8
190.7
181.5
207.5
191.8

10.9
11.3
10.9
18.8
15.3

11.9
11.8
10.7
15.8
14.2

185.1
181.9
182.8
168.0
292.5
177.6
179.4
164.7
190.1
182.7

186.2
181.5
184.2
168.9
235.0
179.0
180.9
165.3
191 .6
184.0

194.4
182.0
186.7
169.7
236.1
180.4
182.5
166.3
192.9
184.7

17.6
33.3
11.6
4.1
13.7
9.7
10.8
11.9
11.6
10.9

12.7
17.1
10.4
7.1
12.4
10.6
10.9
10.7
12.9
11.1

181.3
188.0
174.7
199.5
194.0

182.7
188.7
175.6
200.9
196.2

183.9
190.0
176.5
202.3
199.5

12.5
12.3
10.9
11.7
16. 1

12.9
15.4
12.4
12.2
13.6

181.4
167.4 .
184.2
166.9
217.5
179.1
174.3
180.0
194.1
174.9

181.8
167.3
184.6
167.2
219.0
180.3
175.7
180.7
194.9
175.9

182.5
166.5
185.5
167.6
219.8
181.4
176.9
180.8
195.9
175.1

10.3
1.9
10.1
7.0
17.0
11.1
10.9
17.7
14.0
10.4

8.9
5.9
11.9
10. 1
14.0
13. 1
13.0
16.8
15.7
13.8

NUMBER OF SAV1NGS AND LOAN ASSOC 1AT 1ONS

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: K Y - 1N
MI SS IS SI PP I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS



JANUARY
19T9

FEBRUARY
1979

MARCH
19T9

MARCH
19TB

4,048
448
91
75
4

4,038
444
92
75
4

4,039 '
444
91
75
4

4,060
440
89
73
4

7
3
105
12
60
112
54
5
96
6

7
3
104
12
60
112
55
5
93
6

7
3
105
12
60
112
54
5
92
6

7
3
102
11
60
112
54
5
93
5

PREPARED BY FEDERAL RESERVE BANK OF ST.

39

LOUIS

POPULATION
Bureau of the Census
Compounded Annual
Rates of Change
1970
1960
to
to
1977
1970

1970

1977*

203,305,000

216,856,000

.9

1.3

15,964,668

17,091,000

1.0

.7

CMV Metropolitan Areas

5,654,793

5,860,800

.5

1.3

Arkansas
FayettevilleSprlngdale: AR
Fort Smith: AR-OK
Little Rock-North
Little Rock: AR
Pine Bluff: AR
Texarkana: AR-TX

1,923,322

2,144,000

1.6

.7

127,846
160,421

154,700
187,000

2.8
2.2

3.3
1.7

323,296
85,329
113,488

369,100
84,400
118,600

1.9
- .2
.6

1.7
.5
1.2

Kentucky
ClarksvilleHopklnsvllle: KYEvansville: IN-KY
Louisville: KY-IN
Owensboro: KY

3,220,711

3,458,000

1.0

.6

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

145,100
290,600
883,100
80,300

2.9
.3
.3
.1

.6
.5
1.4
1.2

Mississippi

2,216,994

2,389,000

1.1

.2

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

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

4,801,000
88,800
2,379,800
192,900

1.3
- •2
2.0

.8
3.9
1.2
1.9

Tennessee
Memphis:

3,926,018
834,103

4,299,000
886,400

1.3
.9

1.0
1.4

United States
CMV States

* Provisional




TN-AR-MS

A

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