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ITRAL MISSISSIPPI VALLEY
'NOMIC INDICATORS

C OL U M B IA
O

ST. LOUISA
i V A N S V iL L E
LOUISVILLE

O SPR IN G FIELD

O FAYETTEVILLE-SPRINGDALE

F O R T SMITH

M EM PH IS
LIT TL E ROCK

o

PINE B LU F F

[O texarkana

1ST QUARTER 1981




P r e p a r e d b y F e d e r a l R eserve B a n k o f St. Louis
Released • June 10, 1981

DATA DESCRIPTION

Selected economic data for the Central Mississippi Valley (CM V) 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. A ll 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
Consumer price indices are from the U.S. Department of Labor. 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 not strictly
comparable over time due to withdrawals and additions of member banks (see average
number of member banks, page 35). In addition, beginning January 1981, member banks
with deposits of under $15 million (approximately 90 in the Eighth District) report deposit
figures quarterly rather than weekly. 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

SUM M ARY OF C E N T R A L MISSISSIPPI V A LLEY ECO N O M IC ACTIVITY

Economic activity in the Central Mississippi Valley (CM V) advanced in the past two quarters
(third quarter 1980 to first quarter'1981) after a year of relatively sluggish activity. The upturn has been
similar to that for the nation, though the region's decline was longer and more severe. While personal
income, department store sales and employment showed substantial gains, some important industries
remain severely depressed, specifically automobile manufacturing and home construction.
Personal income in the five CMV states increased at a 13.3 percent annual rate from the second
to fourth quarters of 1980, compared with a 4.6 percent rate in the previous two quarters. An upturn in
department store sales accompanied this increase. In the six-month period from July/August 1980 to
January/February 1981, sales in six CMV cities rose at about a 10 percent rate following no change in the
previous six-month period.
Payroll employment increased in both the CMV states and cities during the past two quarters,
following four consecutive quarters o f decline. Employment gains in the CMV states were faster than in
CMV cities—a 4.1 percent rate versus a 2.1 percent rate—and somewhat faster than the 3.5 percent rate of
gain in the nation. In comparison, payroll employment declined at a 3.3 percent rate in the previous year
in both the states and cities, while employment in the nation was essentially unchanged.
Judging from payroll employment data presented in the table below, the upturn in economic
activity has been robust in most CMV states and cities, except for the state of Missouri and thfe cities of
Pine Bluff, Little Rock and St. Louis. The weaker recoveries in Pine Bluff and Little Rock, however, are
associated with smaller downturns in the previous year. On the other hand, the recovery in St. Louis and,
in part, that of Missouri, has been hampered by the depressed automobile industry. In St. Louis,
employment in automobile manufacturing in the first quarter averaged 17 percent below that o f two
quarters earlier and 64 percent below the peak quarter (fourth quarter 1978).
In addition to automobile manufacturing, homebuilding remains sluggish throughout the region.
Housing permits issued during the first quarter in the five CMV states were 32 percent below the level of
two quarters ago and 10 percent below the very low level of a year ago. Nonresidential construction, on
the other hand, remains relatively strong, as the value of contracts issued in the first quarter were 28
percent above the level of a year ago.
P A Y R O L L EM PLO YM ENT
(compounded annual rates of change)
Third quarter 1980
to
first quarter 1981

Third quarter 1979
to
third quarter 1980

United States

3.5 %

-0.1 %

CMV States
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

4.1
4.9
6.9
5.1
2.3
4.3

-3.3
-1.6
-4.1
-2.3
-3.3
-4.2

CMV Cities
Evansville
Fort Smith
Little Rock
Louisville
Memphis
Pine Bluff
St. Louis
Springfield

2.1
3.5
8.5
2.2
3.7
3.2
-0.5
0.7
3.2

-3.3
-3.0
-4.4
-0.9
-4.0
-2.5
0.2
-4.0
-0.7




3

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100
320

1971-100




270
220

170
120

ARKANSAS

KENTUCKY

MISSISSIPPI

320
270
220

170
120

4

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED

COMPOUNDED ANNUAL
RATES OF CHANGE

INDEX: 1971-100

3RD QTR 1980
TO
4TH QTR 1980

4TH QTR 1979
TO
4TH QTR 198,(L

3RD
QUARTER
1980

4TH
QUARTER
1980

UNITED STATES

253.0

261.6

14. 1

10.9

CMV STATE SUMMARY

258.7

266.7

12.9

8.9

ARKANSAS

283.0

290.2

10.4

7.6

KENTUCKY

263. 1

273. 1

15.9

8.8

M IS SI SS IP P I

265.8

273. 1

11.4

6.7

MISSOURI

238.4

244.7

10.9

8.2

TENNESSEE

269.2

278.6

14.7

11.3

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

IN IT IA L QUARTER
1 -7 6

2 -7 6

2 -7 6

6 *8

3 -7 6

7 .4

8 .0

6 -7 6

9 .0

1 0.1

3 -7 6

4 -7 6

1-77

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

1971*100

3 -7 8

4 -7 8

1-79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3—8 L
164 .4
167.6

1 2.2

172.5

1 -7 7

1 0 .0

1 1.1

1 2 .7

1 3 .1

2 -7 7

1 0 .3

11.1

1 2.2

1 2 .2

11.2

3 -7 7

1 0 .6

1 1 .4

1 2.2

1 2 .2

11.8

1 2 .4

4 -7 7

1 1.0

1 1 .7

1 2.5

1 2 .5

12.3

1 2 .9

1 3 .4

1 -7 8

1 0 .6

1 1.1

1 1 .6

1 1 .3

11U

1 1 .1

1 0 .5

7 .6

177.9
182.7
188.1
1 94.1
197 .7

2 -7 8

1 1 .4

1 2 .0

1 2 .6

1 2 .6

12.5

1 2 .9

1 3 .0

12 .9

1 8 .3

3 -7 8

1 1 .6

1 2.1

1 2 .6

1 2 .7

12.6

1 2 .9

1 3 .0

1 2 .9

1 5 .6

1 3 .0

4 -7 8

1 1 .9

1 2 .4

1 2 .9

1 3 .0

13.0

1 3 .3

1 3 .5

1 3 .5

1 5.5

1 4 .1

1 5 .3

1 -7 9

1 2.1

1 2 .6

1 3 .1

1 3 .2

13.2

1 3 .5

1 3 .7

1 3 .7

1 5 .3

1 4 .3

1 5 .0

2 -7 9

1 1 .6

1 2.1

1 2 .4

1 2 .4

12.4

1 2.5

1 2 .5

1 2 .4

1 3 .4

1 2 .2

1 1 .9

1 0 .2

1 2 .4

12.3

1 2.5

1 1 .9

1 0 .9

2 06 .2
2 1 2 .6
2 20 .3
1 4 .7

2 2 8 .0
5.9

231 .3

3 -7 9

1 1 .7

1 2 .1

1 2 .4

1 2 .5

1 2 .4

1 3 .2

1 2 .2

9 .0

1 2 .1

4 -7 9

1 1.7

1 2 .1

1 2 .4

1 2 .4

12.3

1 2 .5

1 2 .5

1 2 .3

1 3 .0

1 2 .2

1 2 .0

1 1 .2

10.1

1 2 .2

1 2 .3

1 -8 0

1 1 .4

1 1 .7

1 2 .0

1 2 .0

11.9

1 2 .0

1 1 .9

11*8

1 2 .3

1 1 .5

1 1 .2

1 0 .4

9 .3

1 0 .5

9 .7

7 .2

2 38 .0
2 4 5 .0
249 .3

2 -8 0

1 0 .9

11.1

1 1 .3

1 1 .3

11.1

1 1 .1

1 1 .0

1 0 .8

1 1.1

1 0 .2

9 .9

9 .0

7 .9

8 .3

7 .1

4 .6

2 .1

3 -8 0

1 1 .0

1 1.3

1 1 .5

1 1 .4

11.3

1 1 .3

1 1 .2

1 1 .0

1 1 .4

1 0 .6

1 0 .3

9 .6

8 .8

9 .4

8 .7

7 .5

7 .7

1 3 .6

4 -8 0

1 1 .1

1 1 .4

1 1.6

1 1 .5

11.4

1 1 .4

1 1 .3

1 1 .2

1 1 .5

1 0 .8

1 0 .6

1 0 .0

9 .4

1 0 .0

9 .5

8 .9

9 .4

1 3 .3

1 3 .0

1 -7 6

2 -7 6

3 -7 6

4 -7 6

1-77

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

1-79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0




2 5 0 .6
2 5 8 .7
2 6 6 .7

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SAL ES
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100

1971

100

350
270
190
110

30

350
270
190
110

30
350
270

350
—

— -

190

190
K

I 10

30

270

1 1 1 .1

1 1 L -l L 1 i -




1 1 11

1 1 1 1 1 1 1

—

. 1 1 1 - L 1 1 1 .1-1 1 l .

■ ■ I ■ ■ I ■ ■ I ■ ■

M

1 . 1 1 1 ■ 1 11

ST. LOUIS: MO-IL

6

« ■ 1 » « 1 « » 1 ■ i

l i 1 * » 1 » « 1 » ■

110

30

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
__________INDEX: 1971-100_______

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING FEBRUARY 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

DECEMBER
1980

JANUARY
1981

FEBRUARY
1981

UNITED STATES

230. 1

228.2

237.1

9.7

6.8

CMV METROPOLITAN SUMMARY

2Q3.6

219.6

207.3

14.3

6.1

356.5

391.1

368.4

33.2

9.4

332.0
183.5
191.9
198.0
230.2

335.8
189.5
194.5
203.7
243. 1

342.2
177.6
196.5
200.3
223.5

10.4
3.8
10.5
9.3
18.6

8.4
1.7
7.6
6.4
8.5

FORT SMITH: AR-OK
LI TT LE ROCK-NORTH
LIT TLE ROCK: AR
LOUI SV ILL E: K Y -I N
MEMPHIS: TN-AR-MS
ST. LOUIS: MO-1L
SPRINGFIELD: MO

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

U . S . DEPAKTMENI STURE SALES
CQHPUUNOEP ANNUAL RATES.OF CHANGE
TERMINAL
QUARTER

IN IT IA L QUARTER
1 -7 6

2 -7 6

3 -7 6

4 -7 6

1-77

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

1971=100

3 -7 8

4 -7 8

1-79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0
1 42.9

2 -7 6

2 .6

3 -7 6

6 *9

11*4

6 -7 6

1 0 .7

1 4 .9

1 8 .6

1 -7 7

9 .5

1 1 .9

1 2 .2

146.8
153*2
6 .1

155.5

2 -7 7

1 2.9

1 5 .7

17.1

1 6 .4

27.7

3 -7 7

1 4.6

1 7 .2

1 8 .7

18 27

25.5

2 3 .3

4 -7 7

1 5.1

1 7 .3

1 8.5

1 8 .5

2 2.9

2 0 .6

1 7 .8

1 -7 8

1 3.8

1 5.5

1 6.2

1 5 .7

18.2

1 5 .2

1 1 .3

5 .2

2 -7 8

14*0

1 5 .6

1 6 .2

1 5 .8

17.8

1 5 .4

1 2 .9

1 0.5

16.1

165.3
174.2
181.5
183.8
190.8

3 -7 8

1 3 .3

1 4 .6

1 5 .0

1 4 .4

15.9

1 3 .7

1 1 .4

9 .3

1 1 .4

6 .9

4 -7 8

12*6

1 3 .6

1 3 .9

1 3 .3

14.4

1 2 .3

1 0 .2

8 .4

9 .5

6 .3

194 .0
5 .7

196.7

1 -7 9

12*0

1 2 .9

1 3 .0

1 2 .4

13.2

1 1 .3

9 .4

7 .8

8 .4

6. 0

5 .5

5 .4

2 -7 9

1 1 .7

1 2 .5

1 2 .7

1 2.1

12.7

1 1 .0

9 .4

8 .0

8 .6

6 .8

6 .7

7 .2

9.1

3 -7 9

1 2.1

1 2 .9

1 3 .0

1 2 .5

13.2

1 1 .7

1 0 .3

9 .3

9 .9

8 .8

9 .2

1 0.4

13.0

1 7 .1

4 -7 9

1 2.1

1 2.8

1 2 .9

1 2 .5

13.1

1 1 .7

1 0 .5

9 .6

1 0.2

9 .3

9 .8

1 0 .8

12.7

1 4 .5

1 2 .0

1 -8 0

1 1.0

1 1 .6

1 1 .7

1 1 .1

11.6

1 0.2

9 .0

8 .0

8 .4

7 .3

7 .4

7 .7

8.3

8 .1

3 .8

-3 .8

2 -8 0

1 0.1

1 0 .6

1 0 .6

1 0 .0

10.3

9 .0

7 .8

6 .8

7 .0

5 .9

5 .8

5 .8

5.9

5 .1

1 .4

-3 .5

-3 .3

3 -8 0

10*3

1 0.8

10.8

1 0 .3

10.6

9 .3

8 .2

7 .4

7 .6

6 .7

6 .7

6 .9

7.1

6 .7

4 .2

1 .8

4 .7

1 3 .3

4 -8 0

10*6

1 1.1

11.1

1 0 .6

10.9

9 .8

8 .8

8 .1

8 .4

7 .6

7 .7

8 .0

8 .4

8 .2

6 .6

5 .2

8 .4

1 4 .6

1 6 .3

1-76

2 -7 6

3 -7 6

4 -7 6

1-77

2 -7 7

3 -7 7

4 -7 7

1-78

2 -7 8

3 -7 8

4 -7 8

1-79

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0




199 .3
2 0 3 .7
211 .9
2 1 8 .0
2 1 5 .9
2 14.1
2 2 0 .9
2 2 9 .4

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

INCOME AND TRADE INDICATORS

FARM CASH R E C E I P T S
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100
450

1971-100

350
250
150
50

ARKANSAS

KENTUCKY

450

450

350 —

A

A

250

^ Sw>N- /

150
50

\

1 1 1 1 1 1 I I 1 t-L 1 1 1 L-i.l 1 1 1 1 1 1 1 1 L 1 1 1 1 1 1 1 ■«i ■■i ■■i < ■ 1 1 1 I I I..11 1 Ll-




MISSISSIPPI

MISSOURI

TENNESSEE

8

350

—

250

A

I 1.1 1 I I I L.

150
»«I«I1«« I»

50

INCOME AND TRADE INDICATORS

FARM CASH R E C E I P T S
SEASONALLY ADJUSTED
__________INDEXi 1971-100_______

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING FEBRUARY 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

DECEMBER
1980

JANUARY
1981

FEBRUARY
1981

UNITED STATES

291.2

285.4

251.0

27.4

8.2

CMV STATE SUMMARY

282.0

273.8

222. 1

27.1

4.7

ARKANSAS

257.6

229.2

221.2

-29. 1

-10.8

KENTUCKY

342.5

288.0

184.8

130.9

26.9

MIS SI SS IP P I

216.7

199.2

212.0

-0.2

-3.8

MISSOURI

274.2

316.7

243.3

4.1

3.5

TENNESSEE

265.5

293.5

223.3

26.3

7.9

STATE SUW1AKY-I-AKM CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

IN IT IA L QUARTER
1 -7 6

2 -7 6

2 -7 6

3 -7 6

6 -7 6

1-77

2 -7 7

3 -7 7

6 -7 7

1 -7 8

2 -7 8

1971*100

3 -7 8

6 -7 8

1-79

2 -7 9

3 -7 9

6 -7 9

1 -8 0

2 -8 0

3 -8 0

8 1*0

196 .6

3 -7 6

5 .1 - 3 9 . 0

6 -7 6

1 1.6 - 1 2 . 6

2 5 .9

171.8
1 82 .0

1 -7 7

5 .8 - 1 1 . 5

6 .6

-9 .7

2 -7 7

6 *1

-7 .2

6 .8

-1 .6

7 .2

3 -7 7

7 *5

-3 .1

8 .8

3 .6

11.0

1 5 .0

6 -7 7

9 .5

0 .7

1 1 .3

7 .9

16.5

1 8 .3

2 1 .7

1 -7 8

1 0 .7

3 .2

1 2 .6

1 0 .1

15.7

1 8 .7

2 0 .7

1 9 .6

2 -7 8

1 3 .8

7 .6

1 6 .5

1 6 .9

2 0.6

2 6 .3

2 7 .5

3 0 .6

6 2 .5

2 2 6 .3

3 -7 8

1 1 .2

5 .3

1 2 .7

1 1 .0

16.8

1 6 .6

1 6 .8

1 5 .2

1 3 .1 - 1 0 . 3

2 1 8 .3

1 7 7 .6
1 80 .5
1 86 .9
196 .3
2 0 5 .3

6 -7 8

11 *6

6 .3

1 3.1

1 1 .6

15.0

1 6 .3

1 6 .6

1 5 .6

1 6 .0

2 .0

1 5 .9

1 -7 9

1 5.1

1 0 .5

1 7 .2

1 6 .3

20.1

2 2 .0

2 3 .2

2 3 .6

2 6 .5

1 9 .1

3 7 .2

6 2 .6

2 5 5 .7

2 -7 9

12*1

7 .8

1 3 .5

1 2 .3

15.1

1 6 .1

1 6 .2

1 5 .6

1 6 .5

8 .6

1 5 .5

1 5 .3 -1 8 .2

2 63 .2

2 2 6 .5

3 -7 9

1 0 .8

6 .7

1 1 .7

1 0 .5

12.8

1 3 .6

1 3 .2

1 2 .1

1 0 .9

5 .5

9 .8

7 .8

-1 2 .1

-5 .6

6 -7 9

1 0 .8

7 .0

1 1 .8

1 0 .7

12.7

1 3 .3

1 3 .1

1 2 .1

1 1 .0

6 .5

1 0 .2

8 .9

-6 .7

2 .8

1 2 .0

1 -8 0

9 .7

6 .1

1 0 .6

9 .3

11.1

1 1 .6

1 1 .1

1 0 .0

6 .8

6 .7

7 .6

5 .8

-6 .9

-0 .1

2 .9

—5 .6

2 -8 0

2 3 9 .7
2 6 6 .6
2 6 3 .1

8 .5

5 .1

9 .0

7 .9

9 .6

9 .6

9 .1

7 .9

6 .7

2 .9

6 .9

3 .2

-5 .7

-2 .3

-1 .2

-7 .2

-8 .9

3 -8 0

1 2 .3

9 .2

1 3 .2

1 2 .6

16.2

1 6 .8

1 6 .7

1 6 .1

1 3 .6

1 0 .8

1 3 .7

1 3 .6

6 .8

1 2 .7

1 7 .8

1 9 .8

3 6 .9

6 -8 0

8 .8

5 .8

9 .3

8 .3

9 .6

9 .8

9 .6

8 .5

7 .5

6 .5

6 .3

5 .1

-1 .2

2 .0

3 .6

1 .5

6 .0

1 -7 6

2 -7 6

3 -7 6

6 -7 6

1-77

2 -7 7

3 -7 7

6 -7 7

1 -7 8

2 -7 8

3 -7 8

6 -7 8

1-79

2 -7 9

3 -7 9

6 -7 9

1 -8 0




2 3 7 .5
9 9 .9

2 8 2 .6

1 1 .2 - 3 8 . 2

2 5 0 .6

2 -8 0

3 -8 0

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

Em p l o y m e n t

indicators

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




1971-100

135
125
115
105
95

ARKANSAS

KENTUCKY

MISSISSIPPI

MISSOURI

TENNESSEE

10

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX-. 1971-100_______

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
M IS SI SS IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
3 MONTHS

JANUARY
1981

FEBRUARY
1981

MARCH
1981

123.5
121.1
114.9
127.9
131.4

123.8
121.0
115.3
127.0
129.2

124.4
120.6
114.9
125.7
127.0

3.0
3.4
2.8
-2.5
6.8

0.3
-0.5
-0.8
-1. 1
-1.5

134.4
126.7
128.7
124.9
118.9
127.7
113.9
109.0
133.6
118.0
109.2

133.8
124.3
128.5
123.8
117.7
128.0
114.7
110.4
136.3
117.4
108.4

133.2
123.5
127.2
123.4
117.7
127.0
115.8
110.3
136.7
116.2
107.7

-1.8
-6.2
13.2
-2.2
9.7
-0.6
5.4
5.7
7.4
-1.7
-2.9

-1.3
-2.0
1.8
-1. 1
1.3
-0.6
-0.6
-J .0
-0.3
-1.9
-1.7

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

IN IT IA L QUARTER
1 -7 7

2 -7 7

3 -7 7

4 -7 7

2 -7 7

7 .2

3 -7 7

4 .8

2 .4

4 -7 7

3 .4

1 .6

0 .7

1 -7 8

2 .3

0 .7

-0 .2

-1 .0

2 -7 8

2 .4

1 .2

0 .8

0 .9

1-78

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

1971x100
4 -7 9

1-80

2 -8 0

3 -8 0

4 -8 0
115.8
116.5
116 .7
1 16 .4

2 .8

1 17.2

3 -7 8

2 .4

1 .3

1 .3

1 .3

2m8

2 .8

4 -7 8

2 .6

1 .8

1 .7

2 .0

3 .0

3 .1

3 .4

1 -7 9

2 .5

1 .9

1 .8

2 .0

2 .7

2 .7

2 .7

2 .0

2 -7 *

2 .5

1 .9

1 .8

2 .0

2 .6

2 .6

2 .3

2 .0

2 .0

3—79

2 .3

1 .8

1 .7

1 .9

2 .4

2 .3

2 .2

1.8

1 .7

1 .3

4 -7 9

2 .3

1 .8

1 .7

1 .8

2.2

2 .2

2 .0

1 .7

1 .6

1 .3

1 18.0
1 19.0
1 1 9 .6
1 20.2
120.6
1 .3

121 .0

1 -8 0

2 .2

1 .8

1 .7

1 .8

2.2

2 .1

2 .0

1 .7

1 .6

1 .4

1 .3

1 .7

2 -8 0

1 .7

1 .2

1 .1

1 .2

1 .4

1 .2

1 .0

0 .6

0 .3

-0 .1

—0 .6

-1 .5

-4 .5

3 -8 0

1 .3

0 .8

0 .7

0 .7

0 .9

0 .7

0 .4

0 .0

-0 .3

-0 .8

-1 .3

—2 *2

-4 .1

-3 .6

4 -8 0

1 .4

1 .0

0 .9

0 .9

1.1

0 .9

0 .7

0 .4

0 .1

-0 .2

-0 .5

-0 .9

-1 .8

-0 .3

1-81

1 .5

1 .2

1 .1

1 .1

1.3

1 .1

1 .0

0 .7

0 .5

0 .3

0 .2

-0 .1

-0 .5

0 .9

3 .2

3 .4

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1-78

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1-80

2 -8 0

3 -8 0

4 -8 0




1 21.5
120.1
119 .0
3 .1

1 19.9

IN IT IA L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

120.9

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT




PERCENT

ARKANSAS

MISSISSIPPI
12

9

6
3
0

MISSOURI
12

9

6
3
0

TENNESSEE

12
9

6
3
0

12

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT
MONTHLY AVERAGE
3 MONTHS ENDING

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 -1N
M IS SI SS IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

JANUARY
1981

FEBRUARY
1981

MARCH
1981

MARCH
1981

DECEMBER
1980

7.4
7.6
7.4
7.4
7.9

7.3
7.6
7.6
7.9
8.6

7.3
8.0
8. 1
8.3
9.3

7.3
7.7
7.7
7.9
8.6

7.5
7.6
7.6
7.6
8.4

5.3
8.0
8.4
7.0
7.9
8. 1
6.6
8.0
5.2
7.3
6.7

6.7
8.4
7.8
7.0
7.4
8.2
7.0
7.9
5.7
7.6
6.8

7.2
9.0
8.4
7.7
8.4
8.5
7.2
8.4
6. 1
8. 1
7.2

6.4
8.5
8.2
7.2
7.9
8.3
7.0
8. 1
5.7
7.7
6.9

5.8
7.4
8.2
6.9
8. 1
7.7
7.3
8.5
5.9
7.5
6.2

C IV IL IA N

LABOR FORCE

SEASONALLY ADJUSTED
THOUSANDS OF PERSONS
JANUARY
1981

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 -1N
M IS SI SS IP P I
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR




FEBRUARY
1981

MARCH
1981

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

105,543.0
8,002.9
2,474.3
976.7
85. 1

105,681.0
7,997.2
2,486.7
975.7
84.4

106,176.9
8,009.3
2,493.1
969.9
83.6

2.4
3.7
3.3
-1.4
8.0

1.5
1.0
0.7
0.5
-0.5

186.9
39.9
1,678.2
146.2
439.9
1,033.6
2,290.3
1,084.9
103.0
2,019.3
392. 1

189.0
39.3
1,664.8
145.0
433. 1
1,037.5
2,315.0
1,097.9
105.6
2,015.5
389*9

189.0
39.3
1,659.0
145.5
437.6
1,032.8
2,341.6
1,103.6
106.3
2,007.2
389.0

0.6
-1.0
12.8
-0.8
8.8
2.0
3.8
3.6
6.3
-0.7
0.3

0.8
1.3
3.5
0.2
2.8
1.4
0.7
0.3
0.9
-0.3
-0.5

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

13

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED
HOURS PER WEEK

DOLLARS PER HOUR

KENTUCKY

MISSOURI

LATEST DATA PLOTTED: MARCH



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

14

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
_________ DOLLARS PER HOUR_______

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

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1981

FEBRUARY

1981

MARCH
1981

7.73
6.79
8.25
6.01
6.06

7.74
6.86
8.36
6. 11
6.05

7.79
6.90
8.35
6.13
6.17

8.7
8.6
12.5
9.0
3.4

10.6
9.8
11.9
10.7
10.2

6.95
7.42
7.60
8.96
5.74
7.68
8.64
7.21
6.38
7.37

6.93
7.47
7.73
9.04
5.81
7.66
8.75
7.36
6.46
7.48

6.98
7.75
7.71
9.05
5.88
7.70
8.72
7.35
6.52
7.53

23.5
-17.3
2.4
7.7
10.3

13.7
4.3
9.2
13.4
10.9
8.9

11.0

12.5
21.4
8.5
17.5

10. 1

14. 1
10.5
16.9

AVERAGE WEEKLY HOURS WORKED - MANUFACTURING
SEASONALLY ADJUSTED
__________ 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




MONTHLY AVERAGE
3 MONTHS ENDING

JANUARY
1981

FEBRUARY
1981

MARCH
1981

MARCH
1981

DECEMBER
1980

40.4
40.2
40.2
40.7
39.8

39.8
39.3
38.9
39.2
38. 1

40.0
39.8
39.9
39.5
38.0

40. 1
39.7
39.7
39.8
38.6

39.9
39.6
39.6
39.6
37.9

40. 1
42.1
40.5
41.3
39.9
39.9
39.3
40.5
40.9
41.7

39.3
41 .2
39.5
39.3
39.2
38.3
38.2
39.6
40.3
40.7

39.3
42.6
39.9
40.2
39.4
39.0
39.2
40.8
40.7
40.9

39.5
41.9
40.0
40.3
39.5
39. 1
38.9
40.3
40.6
41 . 1

38.9
42.4
39.8
40.7
39.3
39.0
39.3
39.5
40. 1
39.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

15

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT -

SELECTED

IN D U S T R IE S *

SEASONALLY ADJUSTED
INDEX: 1972-100

1972-100




CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

1972-100

CONSTRUCTION

ELECTRICAL EQUIPMENT

FOOD AND KINDRED PRODUCTS
140
120

100

80
60
140
120
100

80

TEXTILE, APPAREL, AND LEATHER

16

60

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT -

SELECTED

IN D U S TR IE S *

SEASONALLY ADJUSTED
INDEX; 1972-100_______

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING MARCH 1081
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY

FEBRUARY

MARCH

1981

1981

1981

UNITED STATES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER

111.2
118.6
118.4
96.2
96.6

111.6
116.2
118.5
96.5
96.7

111.6
115.9
119.0
95.7
96.5

4.8
6.4
5.9
-1.2
5.6

-0.3
-2.2
-0.9
-1.8
-5.6

89.6

89.7

89.8

0.4

-2.2

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

117.0
108.3
108.2
106.0
92.7

116.7
105. 1
108.2
105.5
92.3

117.3
102.5
108.7
105.7
91.4

1.7
7.6
5.3
5.9
15.7

-1.3
-9.8
-4.8
0.2
-4.3

89.8

89. 1

88.5

-3.1

-2.9

ARKANSAS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

115. 1
139.5
125.5
86.9
132.6

107.6
136.7
124.6
87.8
131.7

104.8
137.2
125. 1
87.2
131.6

21 . 1
-1.4
8.4
21.8
3.7

-8.0
0.3
1.5
-1 . 1
-1.3

84.7

83.6

84.5

3.4

-6.6

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

129.4
113.9
82.5
96.4
136.3

129.2
111.4
83.9
96. 1
137.0

128.2
103.3
84. 1
95. 1
135.8

2.5
23.8
11.8
-2.9
12.3

-3.5
-0.8
-10.4
0.2
2.5

88.2

86.0

88. 1

8.7

-7.8

125.2
128.4
122.5
95.6

122. 1
128.7
122.2
96.5

120.7
127.5
123.0
94.0

-0.6
7.9
8.6
6.5

-2.9
-8.7
2.3
-5.9

97.7
86.4

97.3
84.8

92.3
87.0

-11.2
2.4

-4. 1
-6.2

104.4
115.8
93.9
109.0

101.6
115.6
93.5
107.7

103.4
115.2
93.0
106.9

-7.4
6.5
7.6
1.9

-16.3
-2.8
0. 1
-0.6

85.4
82.5

85.6
75. 1

85.0
82.0

-4.6
-5.3

-2.8
-1 1.8

110. 1
98.8
105.9
92.3
123.4

109.9
95.3
104.7
89.6
124.0

109.8
91.4
106.8
90.2
125. 1

-1.4
10.8
4.3
15.5
21.5

-2.5
-13.5
-1.9
-4.3
4.4

116.5

115.9

116.0

-4.4

0. 1

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

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



17

EMPLOYMENT INDICATORS
MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX:

1972-100

KENTUCKY
—

—

■■i ■■i ■■i i « n l n l n l n

llllJ.l-LlL.iL 111ii 111111 n l n l n l n

MISSISSIPPI

150
130

—

—

—

150
_

—

no

110

90
70

90
id iii

nlnlnln

nlnlnln

nlnlnln

j- iin lu liL n l n l n l n

nlnlnln

nlnlnln

n ln ln ln

MISSOURI
1 1 1

150
130

—

110

_
~~

150
—

110

90
» » 1 » « 1 »■ 1 «■

nlnlnln

ii

1 n h i 11i

nlnlnln nliiinliL nlnlnln -LilnliJ n ■■1■■1■111■

n Ln Inin. n l n l n l n

TENNESSEE

150
130 —

70
150

-

-

—

130
----

_

-

110

110

90
70

70

_ 130

90
70

130

90
11111111111 11111111111 111111111l l

1977

1978

1979

1980

11

1981

LATEST DATA PLOTTED: MARCH



11 1 11 1 11 1
1977

11

11 1 11 1 11 1
1978

11

11 1 11 1 11 1
1979

1 1

11 1 11 1 11 1
1980

11

11 1 11 l 1l l
1981

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

18

70

M A N U F A C T U R I N G EMPLOYMENT

EMPLOYMENT INDICATORS

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 ENDIN6 MARCH 1081
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1981

FEBRUARY
1981

MARCH

106.0
104.0
94.0
115.3
114.4

106.5
103.4
93.5
114.7
111.4

106.5
103.4
92.6
114.7
110.2

2.3
4.4
0.4
4.7
-6.2

-2.8
-3.5
-3.7
-2.2
-8.8

105.2
107.4
102.9
100.3
89.8
106.5
98.8
90.8
101.9
104. 1
96.7

104.7
108.6
103. 1
99.2
91.6
106.5
97.2
89.9
99.6
103.7
95.8

103.9
107.6
103.2
99.5
90.9
105.0
97.8
88.6
99.8
104. 1
95.4

-10.4
2.3
9.0
-2.0
14.9
2.3
3.8
-1.8
7.5
3. 1
-2. 1

-6.0
0.7
-4.3
-2.0
-1.4
-4.6
-4.7
-4.8
-3.2
-2. 1
-1.5

1991

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100_______
JANUARY
1981

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




FEBRUARY
1981

MARCH

1991

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1081
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
3 MONTHS

130.4
130. 1
123.8
138.2
145.9

130.8
129.8
123.7
137.3
145.7

130.8
128.9
122.9
135.7
143. 1

3. 1
5.4
2.6
5. 1
6.9

1.6
-0.2
-1.0
1. 1
1. 1

137.9
138.6
134.1
137.1
125.3
140.3
122.5
117.5
139.8
129.2
122.3

137.9
135.3
133.3
136.4
125. 1
140.4
122.5
117.5
140.8
128.6
122.0

137. 1
135.4
131 .6
135. 1
124.7
139.6
122.0
117.0
138.6
127.5
121.5

5, 1
1.8
10.6
9.0
2.6
4. 1
2.3
0.7
-1 .1
5. 1
5.4

0. 1
-2.2
1.5
-1.2
-1.2
0.8
-0.5
-1.4
-1.5
-1.9
-0.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

19

EMPLOYMENT INDICATORS

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

1972-100




ARKANSAS

KENTUCKY

MISSISSIPPI

MISSOURI

135

125
115
105
95

TENNESSEE

135
125
115
105
95

20

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX:

1972-100
1972- 100
135

1972- 100




125
115
105
95

135
125
115
105
95

135
125
115
105
95

21

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
lilPEX-, )07?-100_______
JANUARY

199)

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY

FEBRUARY
1981

MARCH
1991

124.4
122.0
115.4
130.1
132.6

124.5
121.3
114.5
129.1
131.0

3.3
4.7
2.5
5.1
2.4

0.6
-1.1
-1.5
0.2
-2.3

131.0
129.1
125. 1
123. 1
114.2
129.3
116.2
109.8
129.4
120. I
116.8

130.2
129.0
124.0
122.4
113.5
128.4
115.7
108.7
127.8
119.5
116.2

1.9
2.2
9.9
6.1
5.8
3.2
2.8
0.7
0.6
4.4
4.2

-1.1
-1.6
0.1
-1.4
-1.2
-0.7
-1.4
-2.3
-1.8
-2.0
-0.4

124.2

122.2
115.3
130.8
134.2

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

KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI

131.0
131.4
125.5
124.3
113.6
129.6
116.3
109.8
129.4

TENNESSEE
MEMPHIS: TN-AR

117.1

ST. LOUIS: MO-IL
SPRINGFIELD: MO

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR A80

120.6

ST AT fc SUMMAKY-IUIAL PA TRULL fcMPLUYMEN T
COMPOUNDED ANNUAL KATES OF CHANGE
TERMINAL
QUARTER

IN IT IA L QUARTER
2 -7 7

3 -7 7

A—77

1-78

2 -7 7

7 .0

3—77

5 .8

A—77

5 .7

5 .0

5 .3

1-7 b

5 .0

A .A

A .2

3 .1

2 -7 8

6 .0

5 .7

6 .1

6 .5

9 .9

3 -7 8

5 .5

5 .3

5 .A

5 .A

6 .6

2 -7 8

3 -7 b

A—78

1 -7 9

2 -7 9

1972*100
A—79

3—7V

1-80

2 -8 0

3 -8 0

A -8 0
1 U .A
11A.7

A .7

1 16.2
117.1
1 19 .9
3 .A

120.9

A—78

5 .3

5 .0

5 .1

5 .0

5 .6

3 .5

3 .7

1 -7 9

A .9

A .7

A .7

A .5

A .V

3 .2

3 .2

2 .6

2 -7 V

A .6

A .A

A .3

A .l

A.3

3 .0

2 .9

2 .5

1 22.0
122.0
2 .3

123 .5

3 -7 9

A .2

3 .V

3 .8

3 .5

3 .6

2 .A

2 .2

1 .6

1 .1

0 .0

A—TV

3 .8

3 .A

3 .3

3 .1

3m0

1 .9

1 .7

1 .1

0 .7

-0 .2

-0 .3

1 -8 0

3 .A

3 .0

2 .9

2 .6

2 .5

1 .5

1 .2

0 .7

0 .2

-O .A

—0 .6

-1 .0

2 -8 0

2 .5

2 .1

1 .9

1 .5

l. A

0 .3

-0 .1

-0 .7

-l.A

-2 .3

-3 .0

-A .3

3 -8 0

2 .0

1 .6

1 .3

l.C

0 .8

-0 .2

-0 .6

-1 .2

-1 .9

-2 .7

-3 .3

-A .3

-5 .9

0 .2

-0 .2

-0 .7

-l.l

-1 .7

-2 .0

-2 . A

-2 .9

-0 .5

3. A

123 .5
1 2 3 .A
123.1
-7 .6

1 2 0 .7
-A .2

119. A

1 .7

1 .5

1 .2

1-8 1

2 .2

1 .9

1 .7

1 .5

1.3

0 .6

0 .3

-0 .1

—O .A

-0 .8

-0 .9

-1 .0

-1 .1

1 .2

A .l

1 -7 7

2 -7 7

3 -7 7

A—77

1-78

2 -7 8

3 -7 8

A—78

1 -7 9

2 -7 9

3 -7 9

A—79

1-80

2 -6 0

3 -8 0




1 2 0 .A
A .7

1 21.8

1

2 .1

*

A—80

L.0

a
o

1 -77

IN IT IA L QUARTER

PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS

22

PRODUCTION AND PRICE INDICATORS

PROSPECTIVE 1981 CROP PLANTINGS.!/

1980

1979

1981 Indicated

Percent Change
1980 to 1981

(1,000 Acres)
ALL CORN
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee
BARLEY, OATS, AND SORGHUM
UNITED STATES
Arkansas
Kentucky
Mississippi
Missouri
Tennessee

84,106
60
1,650
170
2,600
810

83,997
50
1,680
160
2,150
805

- 0.1
-16.7
1.8
- 5.9
-17.3
- 0.6

37,344
280
108
75
890
105

37,537
331
102
75
1,100
107

38,327
335
107
80
1,320
112

2.1
1.2
4.9
6.7
20.0
4.7

2,890
1,030
210
35

3,363
1,300
250
56

3,486
1,350
250
62

3.7
3.8
0.0
10.7

71,632
5,200
1,720
4,200
5,900
2,700

70,087
4,800
1,650
4,000
5,700
2,650

69,817
4,900
1,700
3,850
5,500
2,700

- 0.4
2.1
3.0
- 3.8
- 3.5
1.9

13,887
610
1,090
157
250

14,485
700
1,175
245
290

14,415
650
1,200
225
310

- 0.5
- 7.1
2.1
- 8.2
6.9

81,393
50
1,440
190
2,500
750
-

f

RICE
UNITED STATES
Arkansas
Mississippi
Mi ssouri
SOYBEANS
UNITED STATES
Arkansas
Kentucky
Mississippi
M1ssouri
Tennessee
UPLAND COTTON
UNITED STATES
Arkansas
Mississippi
Missouri
Tennessee

1/Survey conducted around January 1, 1981 for Kentucky and Tennessee and around
March 1, 1981 for Arkansas, Mississippi and Missouri
^/Includes acres planted 1n preceding fall for barley and oats




23

PRODUCTION AND PRICE INDICATORS

ELECTRIC

POWER C O N SU M PT IO N

SEASONALLY ADJUSTED
INDEX: 1971-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS
150
130
110

90
70

ELECTRICAL MACHINERY

150
130
110

90
70

FOOD, BEVERAGES, AND TOBACCO

TEXTILE, APPAREL, AND LEATHER
150
130

150
—

130

—

110

110

90

90

70

1 . .

1 .

■ 1 .

■

1 1 1 1 1 1 1 1 1 1 1

1 1 1 1 1 1 1 1 1 1 1

1 1 1 »

1 1 1 1 1 1 1

.

.

1 .

.

1 ■ ■ 1 ■ ■

■ ■ 1 ■ ■ 1 .

.

1 ■ .

■ ■ 1.

■ i

. .

1 . 7

TRANSPORTATION EQUIPMENT

150
130

150
—

130

—

110

110

90
70

70

90
i

i

1 i

i

1 i

i

1 i

1975

i

.

.

1 .

.

1 .

.

1 . .

1976

1 1 1 1 1 1 1 1 1 1 1

1977

.

.

1 .

.

1 .

LATEST DATA PLOTTED: MARCH



.

1978

1 .

.

.

.

l

i

.

l

.

i

1979

l

i

.

.

.

1 .

.

1 .

.

1980

1 .

.

i

i

1 i

i

1 I

i

[

i

I

1981

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

24

70

PRODUCTION AND PRICE INDICATORS

ELECTRIC

POWER C ON SUM PTI ON

SEASONALLY ADJUSTED
__________INDEX: 1971-100_______

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
year AGO

JANUARY
1981

FEBRUARY
1981

122.7

123.5

122.6.

8.6

-1.9

115.6

114.9

116.0

11.9

-1 . 1

113.7

113.2

114.1

10. 1

-1 .3

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

101.7
95.9
147.6
135.6
141.1
135.5
90.0
74.3
96.8

104.4
98.8
154.3
128.9
139.5
146.8
90.4
85.8
98.2

104.9
102.5
152.8
123.8
135.4
150.0
89.2
76.4
96.8

16.6
3.3
-6. 1
64.3
2.3
-1.9
65.3
-56.6
25.7

-1.8
-1.0
-3.7
5.8
28.0
-0.6
-12.8
-20.7
0.6

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

118.2

117.0

118.4

10. 1

-1 . 1

115.5

116.0

117.9

20.5

-1.0

131.0
127.0

120.8
124.3

119.2
123.0

-6.2
-1.9

-5.7
1.9

96.4

90.3

92.7

-0.9

3.0

212.8

214.8

220.5

66.6

6.4

MARCH
JL9JLL

UNITED STATES
TOTAL MANUFACTURING AND MINING
EIGHTH DISTRICT

TOTAL MANUFACTURING AND MINING
MANUFACTURING

MINING




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

25

PRODUCTION AND PRICE INDICATORS

VALUE OF C O N S T R U C T I O N CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX: 1974-100

RESIDENTIAL BUILDING

330

NONRESI DENT IAL BUILDING

KENTUCKY

330

—

250

250

170
90
~ 1 1 1

10

LATEST DATA PLOTTED: 1ST OUARTER
Jj 4TH QUARTER DATA: 643.3

21 4TH QUARTER DATA: 38Q.3


\ J

y

TENNESSEE-WEST

26

i i i

A

i i i

170

\

90
i i i.

i i i~

10

PRODUCTION AND PRICE INDICATORS

VALUE OF C O N S T R U C T I O N CONTRACTS L E T *
NOT SEASONALLY ADJUSTED
INDEX; 1974-IOO

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: K Y - 1N
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 -1N
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
NONRES1DENT 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 -1N
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHANGE_______
1ST OTR 1980

1ST OTR 1979
TO
1ST QTR 1980

4TH
QUARTER
1980

1ST
QUARTER
1981

191.1
237.0
181.1
168.2
112.3

161.8
152.5
152.6
160.7
121.9

10.3
26.0
35.3
23.4
20.6

-8.3
-29.4
-34.3
-25.6
-48.5

144.5
171.5
189. 1
257.2
113.8
393.3
306. 1
280.6
127.5
147.7
118.9

192.9
70.6
157.9
238.4
136. 1
144.5
164.3
178.0
119.0
122.5
116.5

37.7
-62.5
44.7
56. 1
78. 1
11.6
29.4
42.6
-8.3
5.8
12. 1

-10.3
10.7
-33. 1
-17.4
-33.4
-28.3
-16.9
-33.0
-10.9
-42.5
-49. 1

210.2
190.5
143.2
184.9
130.7

165.6
164.9
138.5
182.0
151.6

10. 1
24.8
40.9
22.6
52.7

-18.5
-28.8
-33.7
-29.0
-46.9

138.8
187.2
189.6
249.6
95.8
197.1
215.3
153.6
163.3
158.0
152.9

142.6
148.8
187.4
244.9
192.3
185.7
109.0
102.5
103.4
131.4
118.2

47.0
34.8
51.4
226.5
198.6
20.9
-4.8
-8.0
-27.4
7.9
8. 1

-38.0
-20.4
-37.4
-73.5
-52.4
-30.0
-8.7
-12.5
-27.8
-21.5
-24.3

171.8
289.5
218.5
146.4
76.7

158.0
138.7
166.4
132.9
65.7

10.6
28.0
30.9
25.3
-35.4

5.8
-30.4
-34.8
-18.8
-51.1

152.7
165.2
188.6
265.9
132.5
643.3
389.3
397.2
88.8
138.0
90.2

265.4
38.9
123.0
231.0
77.9
92.0
215.0
247.3
135.7
114.2
115.0

31.4
-82.3
34. 1
-4.4
-12.3
-7.1
55.2
80.2
16.7
3.7
15.8

29.4
20.2
-24.8
233.4
-5.1
-24.4
-22.1
-42.9
29.2
-55.2
-61.0

1ST OTR 1981

3K USED WITH THE PERMISSION OF D0D6E CONSTRUCTION
POTENTIALS, MC6RAV-HILL INFORMATION SYSTEMS COMPANY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

27

PRODUCTION AND PRICE INDICATORS

H O U S IN G P E R M I T S
SEASONALLY ADJUSTED
INDEX: 1974-100
1974-100
410
310

1974-100
410

____
- U.3.
STATES ..

—

210

210

1 10
10

v

1975

1976

1977

r's

—

^
“
i i 1 i i 1 i i 1 i i .. 1.. 1.. 1. . .. 1.. 1.. 1..
1979
1980
1981

■ i 1 i i 1 i i 1 i i i i 1 i i 1 i i 1 i i .. i.. i .. i.. ■ i i i i i i i i i i

1978

ARKANSAS

410

110
10

410
—

310 —

310
210

210

110
10

310

7
..........




110

^

...... . ■ 1 ■ ■ i ■ 1 i i 1 i j-Lj-i ■ ■ 1 ■ ■ 1 ■ ■ 1 ■ ■ ■ ■ i ■ ■ i ■ ■ i ■ ■ ■ ■ i ■ ■ i ■ ■ i ■ ■

1 i i 11 i 1 i i.

10

MISSISSIPPI

MISSOURI

410
310
210
110
10

TENNESSEE

410
310
210
1 10

10

28

PRODUCTION AND PRICE INDICATORS

H O U S IN G P E R M I T S
SEASONALLY ADJUSTED
INDEX-. 1974-100_______

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
3 MONTHS

JANUARY
1981

FEBRUARY
1981

UNITED STATES

113.7

109.9

96.0

-18.2

1.8

CMV STATE SUMMARY

103.2

61.0

76.1

-75.4

-10.5

77.4

83.1

75.0

-40.0

-3.4

93.1

19.9

87.3

-92.6

-42.3

47.4

57.7

45.8

-83.2

-13.3

134.3
55.2

105.8
127.9

92.4
77.3

175.2
335. 1

9.2
17.3

MISSISSIPPI

95.9

109.0

56.6

-93.9

2.8

MISSOURI

95.9
97.9

48.4
65.4

74.5
81.8

-73.6
-52.7

2.7
-12.0

75.6
83.7

65.0
92.6

72.7
91.0

-85.4
-78. 1

-15.4
5.4

CMV METROPOLITAN SUMMARY
ARKANSAS
LITTLE ROCK-NORTH
LITTLE ROCK: AR

KENTUCKY
LOUISVILLE: KY-IN

ST. LOUIS: MO-1L

TENNESSEE
MEMPHIS: TN-AR-MS

MARCH

1991

STATE SUMNAKY-MUUSlNb PEKH1IS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

IN IT IA L QUARTER
1 -7 7

2 -7 7

3 -7 7

2 -7 7

4 4 .6

3 -7 7

2 7 .9

1 3.2

4 -7 7

1 0 .7

-3 .2

-I-7 B

1 .5

—9 .6 - 1 9 . 5

2 -7 8

5 .6

-2 .3

3 -7 8

-1 .1

-8 .3

4 -7 8

__ i*I_

-4 .7

1—79
2 -7 9
3 -7 9

4 -7 7

1-78

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

1974*100
4 -7 9

1-80

2 -8 0

3 -6 0

4 -8 0
162 .4

- 1 3 .0 -1 9 .0

1 67.5
- 1 7 .2

-7 .0

159.8
-2 1 .7

150.3

-1 .5

2 4.0

-1 3 .0 -1 1 .6

—6 .0

- 2 8 .8

0 .6

-9 .9

- 2 3 .4 —2 9 .6 -2 5 .3

- 3 7 .0

-1 2 .1

- 1 9 .9 - 1 5 . 9 - 2 8 . 3

-8 .0

-6 .3

-1 1 .3

- 1 4 .3

-7 .2

-1 1 .6

-5 .5

-1 3 .8

1 58 .6
145 .7
1 5 .4

1 51 .0

- 9 0 . 7 - 6 9 .5

112.2
6 8 .9

127.9

- 1 4 .3 - 1 3 . 9

—12.6

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

2 0 .0 - 1 4 .7

122 .9

4 -7 9

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

-1 7 .7

-2 3 .2 -2 2 .0 -2 9 .3

-6 .4

106.8

1 -8 0

-1 5 .5 -1 9 .5

- 2 2 . 2 - 2 2 . 7 —2 2.8

- 2 7 . 9 - 2 7 . 7 - 3 4 .2 - 2 0 . 2 - 3 7 . 9 - 9 7 . 0

- 5 0 .7

2 -8 0

-1 5 .3 -1 9 .0

- 2 1 .5

- 2 6 . 3 - 2 5 . 9 - 3 1 . 2 - 1 9 . 0 - 3 2 . 6 - 3 7 .7

-3 4 .9

—14.0

- 2 1 . 9 - 2 1 .9

-3 0 .3 -4 3 .0

8 9 .5
8 6 .2

3 -8 0

—6 .4

-9 .5

-1 1 .2 -1 0 .6

—9 .4

- 1 2 .5

-1 0 .2 -1 3 .4

3 .1

-6 .6

-9 .5

1 3 .4

72.1

4 -8 0

—6 .8

-9 .7

-1 1 .2 -1 0 .7

-9 .7

- 1 2 .5

- 1 0 . 4 - 1 3 .2

0 .8

-7 .5

-6 .0

6 .5

3 7.6

-1 4 .2 -1 7 .2

-1 9 .0 -1 9 .1

-1 8 .9

-2 3 .5 -2 4 .8

- 2 0 .6

-1 0 .5

-9 .3

4 -7 9

1-80

2 -8 0

1 -8 1

1 -7 7

2 -7 7

3 -7 7




4 -7 7

1-78

- 2 2 . 0 - 2 1 . 3 - 2 4 .6 - 1 5 .5

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

2 44 .1

117 .4

7 4 .0 - 1 2 . 0

1 1 3 .7

-5 3 .4 -7 5 .4

3 -6 0

4 -8 0

IN IT IA L QUART EH

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

29

8 0 .1

PRODUCTION AND PRICE INDICATORS

PRICES




RECEIVED

BY FARMERS -

UNITED

ST A T E S

NOT SEASONALLY ADJUSTED

CORN

BEEF CATTLE

SOYBEANS

HOGS
350
270
190
110
111111111M

i i 1 i i 11 i 1 11

1 1 1 M 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 1 111 1» 1 1111 »

MILK

30
350

—

—

270
190
110

i i 1i i 1i i 1i i

■i 1■■1i i 1■t

11 1 1 1 1 1 1 1 1 1 ■iJ.1 i 1 l u l u

1 ■ 1 ■ ■ 1 ■ 11 ■ i

TURKEYS

30
350
270
190
1 10

30
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

30

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED

BY FARMERS -

UNITED

STATES

NOT SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END IN6 MARCH 1081
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR A60

__ ;_______ INDEX: 1971-100_______
JANUARY
1981

FEBRUARY
1981

MARCH

234.3
256.7
251.6
248.8
265.4
221.7
315.2

233.4
256.7
254.0
245.0
255.2
200.4
292.7

232.5
261.4
256.3
252.6
258.2
175.3
296.3

215.2
204.6
219.5
227.6
240.1
181.6

214.3
202.5
221.0
230.4
238.4
177.5

209.2
198.7
215.9
216.5
235.0
183.9

ALL FARM PRODUCTS
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

LIVESTOCK AND LIVESTOCK
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

<991

0.0
16.9
17.4
53.3
-12.4
-25.2
-20.9

-15.0
-12.1
-5.5
-38.8

0.8

-50.8

11.1
26.0
33.5
21.5
23.6
20.4
14.3

-0.4
-9.9
17.6
13.7
9.4

8.0

PR IC ES-ALL FARM PRODUCTS
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER

IN IT IA L QUARTER
1 -7 7

2 -7 7
3 -7 7

2 -7 7

3 -7 7

4 -7 7

1-78

2 -7 8

3 -7 8

4 -7 8

1 -7 9

2 -7 9

1971*100

3 -7 9

4 -7 9

1-80

2 -8 0

3—80

4 -8 0

6 .7

1 68.3

-1 0 .7 -2 5 .2

156 .5

4 -7 7

-5 .2

-1 0 .6

6 .8

1 -7 0

3 .4

2 .4

1 9 .8

4 1 .6

4 9.1

2 6 .1

22.1

2 -7 8

1 1 .3

1 2 .3

2 8 .9

3 -7 8

9 .3

9 .9

2 1 .0

159.1
3 4 .4

171 .3
1 89.3
0 .0

1 89.3

4 -7 8

9 .3

9 .7

1 8.5

2 1 .6

17.6

4 .4

8 .9

1 -7 9

1 3 .3

1 4 .3

2 2 .7

2 6 .1

24.2

1 6 .8

2 6 .3

4 6 *3

1 93.4
2 1 2 .7

2 -7 9

1 2 .8

1 3 .6

2 0 .6

2 3 .0

2 0.9

1 4 .7

2 0 .0

2 6 .0

8 .5

3 -7 9

1 0 .7

1 1 .2

1 6 .8

1 8 .3

15.8

1 0 .1

1 2 .8

1 4 .2

0 .8

—6 .3

4 -7 9

9 .2

9 .4

1 4 .2

1 5 .1

1 2.6

7 .5

9 .0

9 .0

-1 .1

-5 .6

2 1 7 .1
2 1 3 .6
-5 .0

2 1 0 .9

1 -8 0

8 .2

8 .4

1 2 .5

1 3 .1

1 0.7

6 .1

7 .2

6 .8

-1 .3

-4 .3

-3 .3

-1 .7

2 -8 0

6 .3

6 .3

9 .7

1 0 .0

7 .6

3 .3

3 .8

2 .9

-4 .0

-7 .0

-7 .2

-8 .3

-1 4 .4

3 -8 0

9 .3

9 .5

1 3 .0

1 3 .6

11.7

8 .2

9 .3

9 .3

4 .1

3 .3

5 .8

9 .7

15.8

2 1 0 .0
2 0 2 .0
5 6 .7

2 2 6 .0

4 -8 0

9 .6

9 .8

1 3 .1

1 3 .6

11.9

8 .7

9 .8

9 .9

5 .5

4 .9

7 .3

1 0 .7

15.1

3 3 .5

1 3 .8

1 -0 1

9 .0

V .l

12.1

1 2 .5

10.9

7 .9

8 .7

8 .7

4 .8

4 .2

6 .1

8 .4

11.1

2 1 .2

6 .7

0 .0

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1-78

2 -7 8

3 -7 8

4^78

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1-80

2 -8 0

3 -8 0

4 -8 0




2 3 3 .4
2 3 3 .4

IN IT IA L QUARTER

31

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

PRODUCTION AND PRICE INDICATORS

Farm Land Values

March data for 1960-75, and February data for 1976-81

Index 1977 = 100

Percent Change

February
1977

February
1978

February
1979

February
1980

February
1981

United States

100

109

124

143

156

15.3

9.1

CMV State Summary

100

115

134

152

165

13.4

8.6

100

110

100

111
113
113
115
114
112

133
125
129
133
129
128
123

159
135
149
148
156
155
136

183
143
161
154
198
166
146

19.5
8.0
15.5
11.3
20.9
21.1
10.6

15.1
5.9
8.1
4.1
26.9
7.1
7.4

Arkansas
Illinois
Indiana
Kentucky
Mi ssi ssi ppi
Mi ssouri
Tennessee




100
100

100
100

100

32

1979 to 1980

1980 to 1981

PRODUCTION AND PRICE INDICATORS

Consumer Price Index-All Items*

•All Urban Consumers
Data are quarterly from March 1975 through March 1978; thereafter, data are bi-monthly.

ST. LOUIS

UNITED STATES

Percent Change to
March 1981
Index
1967 = 100

1 Items
Food
Housi ng
Apparel and
Upkeep
Transportation
Medical Care
Entertainment



March 1981

From Two
Months Ago
(Annual Rate)

From
Previous
Year

259.3
267.4
270.6
183.5

8.8
7.0
3.9
33.4

262.1
267.9
224.2

14.9
15.3
0.8
33

Percent Change to
March 1981
Index
1967 = 100
March 1981

From Two
Months Ago
(Annual Rate)

From
Previ ous
Year

8.9
9.9
7.7
4.6

265.1
272.2
282.6
185.1

11.1
8.3
7.8
14.0

10.6
10.1
11.0
5.2

11.1
11.8
8.8

273.5
284.7
218.2

21.7
11.7
11.1

12.2
9.4
8.8

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX:

TOTAL LOANS

1974-100

210

- u.s.
170

1974-100

1

- U.S.
SMSA'S

SMSA'S

TOTA

1

DEPOSITS

1974'
210

—

~—

170

__

130

130

90

90

50

11111111111 -llLij Li-lLi.i iil.iil ill ii
1977




1978

1979

h

I

i i

I

I

m

1980

m

-U.Lu.li 1111 »■1■■1■■1ii

-Lllill 11-LlL

1981

1977

1978

II1111111IIJ-l1iiLu.1i1 lil.ul11111
1979

1980

1981

50

LITTLE ROCK - NORTH LITTLE ROCK: AR
210
170
130
90
50

LOUISVILLE: KY-IN

210
170
130
90
50

TN-AR-MS

210
170
130
90
50

ST. LOUIS: MO-IL

210
—

—

170
130
90

11111111 111 11111111111 11111111111 11111111111 11111111111
1977
1978
1979
1980
1981

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

34

50

FINA NCIAL

INDICATORS

M E T R O P O L I T A N MEMBER BANK DATA
SEASONALLY ADJUSTED
__________INDEX: 1974-100_______

TOTAL LOAN?
UNITED STATES
*
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: K Y - 1N
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TEXARKANA: AR
TOTAL DEPOSITS
UNITED STATES
w
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: K Y - 1N
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TEXARKANA: AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1981

FEBRUARY
1981

MARCH
1991

N. A.
157.0
196.8
198.4

N. A.
160.6
203.6
199. 1

N. A.
164.2
206. 1
201.8

N. A.
5. 1
21.2
13.7

199. 1
188.4

203.0
187.4

204.8
191.8

14.0
-7.5

-10.6
-1.7

168. 1
185.6
109.4
167.2
153.8
161.1
209.5

168. 1
192.8
113.9
164.5
160. 1
151.2
212.3

170.2
202.2
116.6
182.9
158.0
147.5
215.7

-6.4
25.0
5.5
-9.8
0.3
4.8
10.2

2.2
7.7
-1.4
-5.5
1.4
17.9
1.8

N. A.
151.2
213.8
198.4

N. A.
152.7
216.6
200.3

N. A.
154.6
217.2
200.8

N. A.
18.0
17.0
12.7

178.9
190.9

182.2
190.9

184.3
193. 1

4.5
-2.3

-9.3
4.3

161.6
186.3
131.7
158.5
132.5
135.2
192.5

161.5
189.3
132.7
161.8
133.9
133.9
195.7

165.6
191.9
133.3
169.9
136.7
133.6
199.2

5.6
24.3
18. 1
12.1
23.9
-6.3
19.2

9.0
8.7
10.5
4.2
10.0
9.3
7.3

N. A.
2.2
6. 1
0.5

N. A.
8.8
4.6
8.3

AVERAGE NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIGHTH DISTRICT) w
METROPOLITAN SUMMARY*
NONMETROPOLITAN SUMMARY
ARKANSAS
FAYETTEV1LLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
LOUISVILLE: K Y - 1N
NONMETROPOLITAN AREAS
ILLINOIS
NONMETROPOLITAN AREAS
INDIANA
EVANSVILLE: IN-KY
NONMETROPOLITAN AREAS
MISSISSIPPI
NONMETROPOLITAN AREAS
MISSOURI
COLUMBIA: MO
ST. LOUIS: MO-IL
SPRINGFIELD: MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLITAN AREAS

JANUARY
1981

FEBRUARY
1981

MARCH
1981

MARCH
1980

389.00
117.00
270.00
74.00

389.00
117.00
270.00
74.00

389.00
117.00
270.00
74.00

389.25
115.75
271.50
72.75

5.00
3.00

5.00
3.00

5.00
3.00

5.75
3.00

8.00
4.00
3.00
49.00
40.00
9.00
30.00
119.00
96.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

8.00
4.00
3.00
49.00
40.00
9.00
30.00
119.00
96.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

8.00
4.00
3.00
49.00
40.00
9.00
30.00
119.00
96.00
38.00
12.00
25.00
17.00
16.00
87.00
4.00
56.00
5.00
45.00
14.00
8.00
9.00

7.00
4.00
3.00
48.00
40.00
9.00
30.00
121.00
98.00
38.00
12.00
25.00
17.00
16.00
86.50
4.00
56.00
4.00
45.50
14.00
8.00
9.00

* EXCLUDES BANKS IN TWO METROPOLITAN AREAS



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX:

1974-100

TOTAL DEPOSITS

1974-100

220

180
140
100
e

1977

1978

1979

1980

a

1981

NONMETROPOLITAN ARKANSAS
220
—

—

180
140
100

- L i l l i 111 l l L .

1 1 11 1 1 1 1 1 I I

J - i i L i . i l 1111

i i L u 1n l . i l

i ■ i ■ 1 1 ■ § 11 ■

NONMETROPOLITAN KENTUCKY

60

NONMETROPOLITAN MISSISSIPPI
220

220

180

180

140

140

100

100

60




60

NONMETROPOLITAN MISSOURI

NONMETROPOLITAN TENNESSEE
220

—

— 180
140
100

111i i 111111 11111111111 II 111111111 11111111111 11111111111
1977
1978
1979
1980
1981
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

36

60

FINANCIAL INDICATORS

N O N M E T R O P O L I T A N MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

TOTAL LOANS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

FEBRUARY

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1981

__L9JL!__

MARCH
J98J_

187.6

190.6

192.4

1 1.5

3.4

168.6
209.7
184.4
210.4
184.2
178.4
180.3

171.5
214.7
186.3
211.9
186.0
175.6
182.4

175.6
215.0
188.0
214.2
188.4
177.2
188. 1

21.3
7.7
6.9
14.6
13.7
0.7
13.7

4.3
0.5
2.6
6.4
4.4
2.4
8.3

171.0

172.8

174.9

13.0

9.5

158.9
178.7
157.4
196.3
186.8
165. 1
158.2

161.8
180.6
159.0
198.7
188.4
165.4
158.7

165.3
182.2
160. 1
200.5
192.4
166.3
160.1

18.4
12.9
4. 1
12.4
16.0
8.4
4.9

10.4
9.2
6. 1
11.5
10. 1
9.9
5.6

TOTAL DEPOSITS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

MEMBER BANK DATA BY S T A T E
SEASONALLY ADJUSTED
INDEX: 1974-100

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




COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
___3 MONTHS__
YEAR AOP

JANUARY
1981

FEBRUARY
1981__

MARCH
1981

165.2

168.6

171.8

6.7

2.5

172.6
181.8
185. 1
191.7
186. 1
159.5
117.2

173.6
186.4
187.0
197.8
187.3
164.7
121.4

178.3
187.8
189.6
205.8
190.6
162.9
124.5

5.2
12.6
8. 1
22.7
13.9
-1.9
6.5

0.9
1..2
1.2
6.8
4.7
2.1
0.2

157.8

159.5

161.5

16.3

8.9

164. 1
156.0
173.8
190.1
188.5
142.8
134.9

166.4
158. 1
175.4
193. 1
190. 1
143.7
135.9

169.6
159.0
176. 1
194.7
193.9
146.2
136.9

1 1.3
14.7
9.4
20.3
16. 1
19.9
16.2

7.1
7.6

7.8
8.9
10.0
10.8
10.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

FINANCIAL INDICATORS




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

MISSISSIPPI

38

FINANCIAL INDICATORS

S A V I N G S AND LOAN A S S O C I A T I O N DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

TOTAL SAVINGS
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
MORTGAGE LOANS OUTSTAND LN£
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

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1981
FROM SAME
FROM PREVIOUS
MONTHS A
year AGO
___3 MONTHS__

JANUARY
1991

FEBRUARY
1981

MARCH
1981

218.8
218.0
209.6
241.0
236. 1

220.2
219. 1
210.0
242.0
237.2

220.0
218.9
210.3
240.9
236.4

7.8
5.9
5.7
4.6
6.5

8.8
8.4
8. 1
7.3
11.1

222.5
195.3
208. 1
180.5
273.4
206.5
216.7
182.7
221.6
203.0

222.7
194.9
209.0
181.0
275.8
207.5
217.2
184.6
222.9
203.1

218.3
194. 1
210.6
181.3
274.9
207.3
218.2
184.2
222.7
202.2

-0.4
-7.3
8.0
2.9
12.0
5.0
7.7
10.4
7.9
1.6

8.5
2.3
8.5
6.7
9.7
7.8
8.2
5.6
9.7
9.0

209.4
207.7
199.4
215.8
230.9

210.8
208.6
200.3
216. 1
231.7

211.6
208.8
201.5
217.2
229.3

8.6
6.2
8.6
4.6
5.0

5.9
4.0
4.6
3.6
6.2

196.5
181.8
206.3
187.4
233.3
199.4
204.7
189.3
213.8
183.5

197.5
175.7
207.4
188.4
234.0
200.2
205. 1
188.3
215. 1
183.7

200.0
184.2
208.6
189.4
233.7
200. 1
207.3
188.0
215. 1
184.0

5.4
3.9
8.7
9.9
5.7
3.9
8.8
0.0
7.8
7.0

6. 1
10.7
5.5
6.3
2.8
3.5
4.5
-0.7
4.3
2.0

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: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS



JANUARY
1981

FEBRUARY
1981

MARCH
1981

MARCH
1980

3,982
359
72
75
4

3,968
399
80
75
4

3,966
440
83
75
4

4,032
425
91
75
4

7
3
59
6
59
110
47
1
56
4

7
3
87
9
59
108
52
0
70
5

7
3
75
12
59
107
50
0

7
3
95
12
59
112
54
5
84
6

78

7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

39




POPULATION
Bureau of the Census

1970
United States

1978*___

Compounded Annual
Rates of Change
T97ET---- reStT"
to
to
1978
1970

204,878,000

218,548,000

.8

1.3

15,964,668

17,305,000

1.0

.8

CMV Metropolitan Areas

5,655,075

5,912,900

.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

2,186,000

1.6

.7

127,846
160,421

160,500
190,400

2.9
2.2

3.3
1.7

323,296
85,329
113,488

376,400
85,900
118,700

1.9
.1
.6

1.7
.5
1.2

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

3,220,711

3,498,000

1.0

.6

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

147,700
294,800
887,300
81,100

2.7
.4
.3
.3

.6
.5
1.4
1.2

Mississippi

2,216,994

2,404,000

1.0

.2

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

4,677,623
80,935
2,410,884
168,053

4,860,000
90,600
2,385,900
204,800

.5
1.4
-.1
2.5

.8
3.9
1.2
1.9

Tennessee
Memphis:

3,926,018
834,103

4,357,000
888,800

1.3
.8

1.0
1.4

CMV States

♦Provisional

TN-AR-MS

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