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INTRAL MISSISSIPPI VALLEY ^
•NOMIC INDICATORS

C O LU M B IA

O
ST. LOUISA
EV A N S V i L L E
LOUISVILLE

O SPR IN G FIELD

O F A Y E TT E V I L L E -S P R I N G D A L E

O

fo rt

SMITH

M EM P HI S
L IT TL E ROCK

o

PINE B LU FF

O texa rka n a

2ND QUARTER 1981



Prepared by Federal Reserve Bank of St. Louis
Released: September 11, 1981

D A T A D E S C R IP T IO N

Selected economic data for the C entral Mississippi Valley (C M V ) are generally
provided fo r fiv e 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 fo r three sm aller SMSAs (Standard Metropolitan Statistical A reas) and
fo r all seven states and nonmetropolitan areas within the Eighth District portion o f these
states. Also, the metropolitan summary o f population includes 13 SMSAs in the C M V .
Metropolitan areas refer to the 1973 SMSA definitions, except where noted, and states in
some cases re fe r only to the Eighth District portion o f 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
o f Com m erce. In A pril 1977, numerous revisions were incorporated into the department
store series, including boundary redefinitions fo r SMSAs. A ll agricultural data are from
the U.S. Departm ent o f Agriculture.

Employment Indicators
Employment data are from the respective state Employment Security O ffices
and the United States Department o f 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 (p lace-o f-w ork ) data.

Production and Price Indicators
Consumer price indices are from the U.S. Department o f Labor. Electric
power consumption data fo r the Eighth Federal Reserve District are based on reports to
this Bank from various utility and self-gen erating firms in the District and U.S. data are
obtained from the Board o f Governors o f the Federal Reserve System. The series Value
o f Construction Contracts Let are from Dodge Construction Potentials, M cG raw -H ill
Information Systems Company. Housing permits are from the U.S. Departm ent o f
Com m erce.

Financial Indicators
T otal 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
com parable over time due to withdrawals and additions o f member banks (see average
number o f member banks, page 35). In addition, beginning January 1981, member banks
with deposits o f 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 o f Arkansas, and for St. Louis include only
St. Louis C ity and St. Louis County in Missouri, and Clinton, Madison, Monroe, and
St. C lair counties in Illinois.




2

SUMMARY OF C E N T R A L MISSISSIPPI VALLEY ECONOM IC ACTIVITY

Economic activity in the Central Mississippi Valley (CMV) declined in the second quarter,
following two quarters of advance. Weakness in the CMV economy was indicated by measures of consumer
spending, employment and construction. A comparison of the region's economy with that of the nation
indicates that the second quarter decline was more pronounced in the region, a trend that has been evident
over the past two years.
Recent consumer spending in the CMV region has not risen as rapidly as in the nation.
Department store sales in six CMV cities rose at only a 6 percent rate from January/February to
April/May and at the latter date were 11 percent above a year ago. In comparison, department store sales
in the nation rose at a 16 percent rate from January/February to April/May and in April/May were 13
percent above a year ago.
Payroll employment, which consists of manufacturing and nonmanufacturing employment,
declined at a 7 percent rate from the first to the second quarter of this year in the five CMV states and at
a 4.4 percent rate in the eight CMV cities. In comparison, payroll employment in the United States
continued to increase at a modest rate of 1.6 percent. Payroll employment in the CMV states has declined
at a 1.6 percent rate in the past two years, compared with a 1.1 percent rate of increase in the nation. In
contrast, in the previous four years of economic expansion, employment growth in the CMV states rose at
a 4.5 percent rate, somewhat faster than the 4.1 percent rate of increase in the nation.
The second-quarter loss of employment in the region was more pronounced for nonmanufacturing
than manufacturing firms in marked contrast to the patterns so far in the recent period of sluggish
economic activity. Nonmanufacturing employment, about three-fourths of total payroll employment,
declined at nearly a 10 percent rate in the second quarter, whereas manufacturing employment declined at
about a 1 percent rate. In the previous two years (first quarter 1979 to first quarter 1981) manufacturing
employment declined at a 3 percent rate, while nonmanufacturing employment rose slightly.
The loss of nonmanufacturing employment in the second quarter was largely a result of a 23
percent rate of decline in construction employment. This loss was concentrated in home construction
employment as indicated by the nearly 50 percent rate of decline in housing starts in the CMV states from
the first to second quarter. Among leading manufacturing industries in the region, relatively small
employment losses occurred in the second quarter in the food, lumber, furniture, paper and printing
industries, while small gains occurred in the machinery, transportation, textile, apparel and leather
industries.
In the region's financial sector, savings and loan associations have experienced a slowing in the
growth of deposits in the past two years and more recently, a more pronounced slowing, reflecting the
relatively more attractive yields on alternative investments such as as money market mutual funds.
Savings and loan deposits rose at only a 2.8 percent rate from the first to the second quarter, compared
with an average rate of 7.5 percent in the previous two years and a 12.7 percent rate in the two years
previous to that. Reflecting the sharp decline in the demand for home mortgage loans and the difficulty of
savings and loans to attract funds, the growth of mortgage loans has decelerated commensurately, rising at
only a 1.7 percent rate in the second quarter, compared with a 5 percent rate of gain in the previous two
years and a 16 percent rate of gain in the two years previous to that.




3

INCOME AND TRADE INDICATO RS




PERSONAL

INCOME

SEASONALLY ADJUSTED
INDEX: 1971-100

ARKANSAS

KENTUCKY

MISSOURI

TENNESSEE

320
270
220

170
120

4

INCOME AND TRADE INDICATORS

PERSONAL

INCOME

SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
INDEX; 1971-100
4TH
QUARTER

1ST
QUARTER
1981

UNITED STATES

261.6

269. 1

12.0

11.1

CMV STATE SUMMARY

266.7

274.4

12.0

10.0

ARKANSAS

290.2

298.9

12.7

9.8

KENTUCKY

273. 1

281.6

13.2

10.5

MISSISSIPPI

273. 1

280.2

10.7

9.3

MISSOURI

244.7

251.5

l 1.7

8.7

TENNESSEE

278.6

286.5

1 1.8

1 1.9

1980

4TH QTR 1980
TO
1ST QTR 1981

1ST QTR 1980
TO
1ST QTR 1981

STATE

~

COHPOUMDfO ANNUAL RATES OF CHRNOi
itimiML
QUARTER

1-77

2-77

i-n

lt.Z

J-t?

11.8

12.4

■' 4-tt

lf.3

22.9

3-77

4-77

1-78

2-78

3-78

4-78

1-79

2-79

3-79

1-00

2-00

3-00

4-80

m.i

11*1

ll.t

16.3

2->o

12.3

12.7

13.0

12.9

197.7
183

204.2

■ *-v*

12.4

12.0

13.0

12.9

154

13.0

13.0

13.3

13.5

13.3

133

14.1

1-H

li.2

13.3

13.7

13.7

133

14.3

13.0

14.7

i-W

12.4

12.7

12.3

12.4

134

12.2

11.9

10.2

212.4
13.3

220.3
228.0
3.9

231.3

12.3. 12.3

12.3

12.4

133

12.2

11.9

10.9

9.0

12.1

12.5

12.3

12.3

133

12.2

12.0

11.2

10.1

12.2

12.3

11.2 *10.4

238.0
245.0

i-oo, 11.0

12.0

11.9

11.8

123

11.3

93

10.3

9.7

7.2

11.1

11.1

11.0

10.8

11.1

10.2

9.9

9.0

7.9

8.3

7.1

4.4

2.1

11.3

11.3

11.2

11.0

113

10*4

10.3

9.4

8.8

9.4

8.7

7.3

7.7

4-00

11.4

11.4

11.3

11.2

113

10.8

10.4

10.0

9.4

10.0

9.3

8.9

94

13.3

13.0

1-01

11.4

11.3

11.4

11.2

113

10.9

10.7

10.3

9.7

10.3

10.0

9.3

10.1

12.9

12.3

I2.|

1-77

2—77

3-77

4-77

1-78

2-78

3-78

4-78

1-79

2—79* 3-79

4-79

1-80

2-80

3-00

4-00___________

3-00

_

---

188.1

i-ii

12.3

4-79

13.4

“P H

_

"

1971*100

182.7

7.4

4*11

~

INITIAL QUARTER

____________________________________________________ m m i L




249.3
230.4
13.4

238.7
244.7
274.4

Q U A B I B ______________ _________________________________________________

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATO RS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEX: 1 9 7 1 -1 0 0
1971-100

1971-100

350
270
190
110

30

350

350

270

— 270
_■ ■■

190
*

1 10
30

■

110

1.1-1 i 1-1-1 J 1. I-L- M 1 ■■1 I ■1 . . 1 111 11 1 1 1 1 1. 1 1 1 1 1 111 1 1 1.. 1 » l i 1 1 1-1 1tx. ■111.11 1 1 1 1 1 1 1 1 1 1 1 1-l J-.1 1 1




190

30

SPRINGFIELD: MO
350
270
190
110

30

6

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MAY 1981

INDEX: 1971-100

FROM SAME
MONTHS A
YEAR AGO

MARCH
1981

APRIL
1981

MAY
1981

FROM PREVIOUS
3 MONTHS

UNITED STATES

238.5

243.2

239.0

15.5

12.4

CMV METROPOLITAN SUMMARY

206.0

222.5

210.5

5.6

9.6

364.4

379.0

373.1

0.3

14.0

335.5

359.0

348.6

13.9

9.5

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

180.9

201.0

194.0

18.8

8.2

192.4

201.2

189.6

1.9

10. 1

199.6

216.3

202.0

10.8

9.4

224.9

242.0

231.8

1.0

1 1.6

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

___ «.»♦ QgWHTHEHT STORE SALES___
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
INITIAL QUARTER
1971-100
QUARTER_____________________________ ;____________________________________________________________________ _______________________________
1-77 2-77 3-77 4-77 1-18 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 4-80
2— 77

27*7

145.3

3-77

25.5

2& 3

4-77

22.9

20 6

17.8

i-h

18.2

15 2

11*3

5*2
16.1

174.2
181.5
183.8

2-78

17.8

15 4

12.9

10.5

3-78

15.9

13 7

11.4

9.3

11.4

4-78

14.4

12 3

10.2

8.4

9.5

6.3

5.7

1-79

13.2

11 3

9.4

7.8

8.4

6.0

5.5

5.4

2-79

12.7

11 0

9.4

8.0

8.6

6.8

6.7

7.2

9.1

i—79

13*2

ii i

10.3

9*3

9*9

8.8

9.2

10.4

13.0

17.1

190.8
6.9

194.0
194.7
199.3
203*7
211.9

4-79

13.1

11 7

10.5

9.6

10 .2

9.3

9.8

10.8

12.7

14.5

12.0

1-80

11.6

10 2

9.0

8*0

8.4

7.3

7.4

7.7

8.3

8.1

3.8

-3.8

218.0
215.9

2-80

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

3-80

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

13.3

4-80

10*9

9 8

8*8

8.1

8.4

7.4

7.7

8.0

8.4

8.2

6.6

5.2

8.4

14.8

16.3

1-81

10.8

9 8

8.9

8.2

8.5

7.8

7.9

8.1

8.5

8.4

7.0

6.0

8.6

12.9

12.7

1-77

2-77

3-77

4-77

M L . 2-78

3-79

4-78 _I=2f_ irft. - M S L 4-79

1-80




214.1
220.9
229.4
9.2

234.5

2-80 ■Jfefl.0 4-80_____________

IWITIH QUM IEE.

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

7

INCOME AND TRADE INDICATO RS

FARM CASH R E C E I P T S
SEASONALLY ADJUSTED

INDEX: 1971-100

1971-100
450

1971-100

450 -------- 1—
- U.8. __
350 STATES

350

250

250

Xr.

150

150

1111I.. ii1ii1ii1ii ..1..1..1.. ii1ii1ii1ii iiIii(ii1ii 11111111111 ii1ii1ii1ii 50
50 11111975
1977
1979
1981
1976
1978
1980
450
350
250
150
50

ARKANSAS
-r-

—

Ixl ..1.i1n




III i.l nl. 1. nil.lull. ■I.l 11l.J 111A l .i.iii,a..Ui -tj-U-dl u l u

KENTUCKY

MISSOURI

8

■■I. ili. 1.7

450
350
250
150
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 MAY 1981
FROM SAME
MONTHS A
YEAR AGO

MARCH
1981

APRIL
1981

MAY
1981

FROM PREVIOUS
3 MONTHS

UNITED STATES

260.5

235.8

260.0

-31 .7

3.7

CMV STATE SUMMARY

227.4

219.0

228.8

-44.2

3. 1

ARKANSAS

331 .7

271.2

189.8

43.0

14. 1

KENTUCKY

232.5

270.7

298.8

-49.9

1.1

MISSISSIPPI

189.3

180.1

176.9

-40.6

-1 .4

MISSOURI

199.5

215.9

236.6

-62.8

0.7

TENNESSEE

175.2

206.0

231.3

-56.6

2.2

STATE S W m i t W t l W CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER

INITIAL QUARTER
1-77

2-77

3-77

4-77

2-77

10*4

J-77

10.6

10.8

4-77

13.1

15.7

20.1

""i-T*—

22.1

if .4

36.6

54.4

1-78

2-78

3-78

4-78

1-71

2-71

3-71

1171*100
4-71

1-80

2-8Q

4-80
184.1
181.7
118.1
221.7

2-71

20.3

23.0

27.3

30.7

10.7

3-71

15.6

16.7

18.2

17.3

2.3

4-71

17.0

18.1

11.6

11.3

1.5

8.1

25.5

1-71

11.0

20.3

22.0

22.2

15.3

16.1

30.0

227.4
-5.5

224.2
237.3
34.6

255.6

15.1

15.7

16.4

15.7

1.2

8.8

14.0

8.7 -12.2

12.3

12.6

12.8

11.7

5.8

4.1

7.6

2.3 -10.1

-1.5

4—71

12*5

12.8

13.0

12.0

7.0

6.4

1.0

5.2

-3.1

1.8

14.5

1-8©

11.5

11.6

11.7

10.8

6.3

5.6

7.6

4.4

-2.1

1.6

7.6

2-10

1.4

8.2

8.0

6.8

2.5

1.5

2.6

-0.8

-4.7

-5.3

-3.8 -11.8 -23.1

3-10

13.6

13.8

14.1

13.5

10.0

1.1

12.1

10.3

6.6

10.1

16.7

17.4

26.5 108.0

4-10

1.5

8.3

8.1

7.2

3.7

3.0

4.0

1.5

-2.5

-0.7

1.1

-2.0

-3.0

1-81

8.6

8.5

8.3

7.4

4.2

3.6

4.6

2.5

-1.0

0.8

2.6

0.4

0.2

1.4

1-77

2-77

3-77

4-77

1-78

2-78

3-78

4-78

1-71

2-71

3-71

4-71

1-80

2-80

2-71

3-80

241.6
1.1

250.3
234.4
281.5

1.0 -42.1
•
o
r




247.4
241.3

3-80

244.7
10.2

250.7

4-80___________

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

EMPLOYMENT INDICATO RS




TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1971-100

ARKANSAS

KENTUCKY

MISSISSIPPI

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
MISSISSIPPI
MISSOURI
ST. LOUIS; MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

APRIL
1981

MAY
1981

JUNE
1981

125.1

124.4
120.7

115.9

125.4
120.3
115.8

127.0
129.3
133.3
122.6
124.7
123.6
116.6

120.8

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981
FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR A60

3.6

1.9
0.4

1 16.3

-1.0
3.5

127.3
128.5

127.9
129.2

1.6
-0.9

1.1
2.8

132.9
124.2

-2. 1
-1.9

0.4
-1.9

124.7
122.7
117.3

132.7
125.4
126.2
124.0
118.3

0.2
-0.3
0.9

1.3

127.0
116.5
112.4
139.2

125.3

123.9

-9.0
-2.6
-2.4
-6.7

116.3
112.2
138.6

116.8
112.7
140.0

6.4
9.4
1 1.7

-1.6
2.7
2.7
3.5

116.5
107.8

1 16.7
107.5

117.0
107.7

-1.4
-2.6

-1.2
-1.8

STATE SUMMARY— TOTAL EMPLOYMENT
CONFOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

INITIAL QUARTER
1-77

2-77

3-77

A—77

1-78

*-77

7.2

l-W

A.8

2.A

A—77

3.A

1.6

0.7

1-78

*•3

0.7

-0.2

—1.0

■' 2-78

2.A

1.2

0.8

0.9

2.8

3-78

2-78

3-78

A—78

1-79

2-79

3-79

1971*100
A—79

1-80

2-80

3-80

A—80

1-81
115.8
116.5
116.7
116.A
117.2

2.A

1.5

1.3

1.5

2.8

2.8

*-7»-- 2.6

1.8

1.7

2.0

3.0

3.1

1-79

2.5

1.9

1.8

2.0.

2.7

2.7

2.7

2.0

2-79

2.5

1.9

1.8

2.0

2.6

2.6

2.5

2.0

118.0
3.A

119.0
119.6
2.0

120.2

3-79

2.3

1.8

1.7

1.9

2.A

2.3

2.2

1.8

1.7

1.3

A—79

2.3

1.8

1.7

1.8

2.2

2.2

2.0

1.7

1.6

1.3

1.1

1-80

2.2

1.8

1.7

1.8

2.2

2.1

2.0

1.7

1.6

l.A

1.5

1.7

2-80

1.7

1.2

1.1

1.2

1.A

1.2

1.0

0.6

0.3

-0.1

-0.6

-1.5

—A.5

3-80

1.3

0.8

0.7

0.7

0.9

0.7

O.A

0.0

-0.3

-0.8

-1.3

-2.2

—A.!

-3.6

120.6
121.0
121.5
120.1
119.0

A—80

l.A

1.0

0.9

0.9

1.1

0.9

0.7

0.A

0.1

-0.2

-0.5

-0.9

-1.8

-0.3

3.1

* 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.A

2-81

l.A

1.0

0.9

0.9

1.1

1.0

0.8

0.5

O.A

0.2

0.0

-0.2

-0.6

O.A

1.8

1.2

1-77

2-77

3-77

A—77

1-78

2-78

3-78

A—78

1-79

2-79

3-79

A—79

1-80

2-80

3-80

A—80

119.9
120.9
-1.0

,

120.6

1-81______

_____________________________________________________________ INITIAL QyARTER________________________________________________________________




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

EMPLOYMENT INDICATO RS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT

PERCENT

ARKANSAS

12
9

6
3
0

KENTUCKY

MISSISSIPPI

Q I I I I I I I I I I I I I I I I I I I I I I I II I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I I ■ ■ I ■ ■ I I I I I I I I I




MISSOURI

TENNESSEE

12
9

6
3
0

12

EMPLOYMENT INDICATO RS

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

MAY
1981

JUNE

1901

1981

1901

7.3

7.6

7.3

7.8
7.9

8.2

7.3
7.8

8.2

7.8
7.7

7.4
7.9
7.9

7.7

7.9
7.9

8.5
8.2

8.6
8.0

8.3
8.0

7.9
8.5

6.9
9.0
8.7
8.0
8.2

7.6
9.7

7.4
9.6

7.3
9.5

6.4
8.6

8.8
8.5
8.2

7.5
8. 1
7.3

8.3
8.2
7.9

8.2
7.2
7.9

8.2

7.6

7.9

8.3

7.1
8.5
6.3

8.0
7.7
8.9
6.0

7.3
8. 1
5.8

7.0
8. 1
5.7

8.0
6.9

8. 1
7.2

8.6
7.7

7.4
8.5
6.0
8.2
7.3

C IV IL IA N

THOUSANDS OF PERSONS
MAY
1981

APRIL
1981 -




7.7
6.9

LABOR FORCE

SEASONALLY ADJUSTED

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

JUNE

MARCH

APRJL
1981

JUNE
|98l

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981
FROM PREVIOUS
9 MONTHS

FROM SAME
MONTHS A
YEAR AGO

106,721.9

107,406.0

106,176.0

3.7

2.0

8,006.5

7,994.6

-0. 1

0.7

2,508.9
975.4
83.8

8,003.8
2,515.7
983.1
83.5

2,511.2
988.9
83.8

4.3
3.3
-2.8

1.5
1.4
-0.9

188.6
39.0

189.5
39.8

188.8
40.2

1.5
2.0

2. 1
1.8

1,631.4
146.2
432.8

1,633.6
145.9
435.3

1,629.9
146.8
435. 1

-8.6
1.7
-2.6

-0. 1
-0. 1

1,028.4

1,012.8

997.2

-8.2

-1.3

2,355.3
1,124.7
108.5

2,365.1
1,128.1
107.7

2,364.6
1,123.2
108.6

11.1

8.2

13.2

2.5
2.9
3.8

2,008.0
388.4

2,015.3
388.0

2,030.8
391 .0

0.9
-1.3

-0.2
-0.7

0. 1

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

13

EMPLOYMENT INDICATO RS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED

DOLLARS PER HOUR
10 ------- 1
i------- u.s.
STATES
8

——

_ STATES

-

4

-1

-

44
40
36

■nluliilii iiliiliilii iiliilnl.ilj-ilnLiil.il iiliiliilii. iilnlnln 11111111111Iilnlnln 111111II1IIIiliiliilii"'
1977
1977
1978
1979
1978
1979
1980
1981
1980
1981
ISAS

10

8 —

0

48
44

—
_ .—

6

t

4
2

—
^ --1 “

6

2

HOURS PER WEEK
48

l

A

—1
/'

40

w'

~

■iiliiliilii iiliilllliL nluliilii. H 1il!li1H nluJilll?*

iiliiliilii iiliiliilii ullillllii. iiliiliilii nluliilii.

KENTUCKY

MISSOURI

to
8 —

___

—

48

—

—

6

- 1

40

V

4
2

36
iiliiliilii Iiliiliilii iiliiliilii jil ii11il11 ■iiliiliilii

I i l i i l i i l i i

I i l i i l i i l i i .

i i l i i l i i l i i

n l u l i i l i i

sihAiilu*

TENNESSEE

10

8 —

44

I

4
II1II1II1II 111II111111 111II111111 11111111111 111111111II

1977

1978

1979

1980

^

40
36

II1II1111II 111II1II111 II 1II111111 111III111II n 1n In 11"7•
0
1977
1979
1980
1978
1981

1981

LATEST DATA PLOTTED: JUNE



0

48

—

6

2

44

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

14

AVERAGE HOURLY EARNINGS

EMPLOYMENT

MANUFACTURING

INDICATORS

SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981

_________ 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-1N
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR AGO

APRIL
1981

MAY
1981

JUNE
|981

7.88
6.97

7.92

7.96

9.5

10.6

7.01

7.06

10. 1

9.6

8.44
6.17
6.33

8.46
6.22
6.37

8.51

7.6

10.2

6.32
6.34

10.3
15.5

10.3
12.9

6.98
7.80

7.07
7.83

7. 10
7.85

5.9
15.3

11.5
2.8

7.76
9.28

7.73
9.21

7.92
9.37

6.6
12.5

7.9
12.2

5.93

5.95

5.99

10.5

11.5

7.84
8.78
7.41
6.61
7.53

7.89
8.86
7.48

7.92
8.89
7.45

11.5
6.7
8. 1

9.6
9.1
14.5

6.64
7.56

6.66
7.42

1 1.8
2.8

10.4
9.8

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

HOURS PER WEEK

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




APRIL
1981

MAY
1981

JUNE
1981

JUNE
1981

MARCH
1981

40.2

40.3

40. 1

40.2

39.8

40.3

40.0

40.0

39.9
39.7

40.3
39.9
39.2

40.0
40.4
39.3

39.7
40.1
39. 1

40.0
40. 1
39.2

39.6
39.7
38.6

40.1
41.6
39.9
42.0
39.8

40.8
41 .3

40.4
41 .0
39.8
39.3

40.4
41.3

39.4
41.9

39.9
40.3

40.0
40.3

40.0
39.7

39.8

39.9

39.7
40.2
41.0

40.1
39.9
39.9
41.5

39.8
39.6
41.1

39.8
39.9
41.2

39.5
39. 1
38.9
40.3

39.8
40.5

40.5
40. 1

40.3
39.6

40.2
40.1

40.4
40.9

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

15

EMPLOYMENT INDICATO RS

PAYROLL

EMPLOYMENT -

SE LE C TE D

IN D U S TR IE S *

SEASONALLY ADJUSTED
INDEX: 1972-100

1972-100




CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

1972-100

ELECTRICAL EQUIPMENT
MO
120
100

80

FOOD AND KINDRED PRODUCTS

60

TEXTILE, APPAREL, AND LEATHER
140
120
100

80
60

16

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT -

SE LEC TED

IN D U S T R IE S *

SEASONALLY ADJUSTED
__________ INDEX; 1972-100________

FROM SAME
MONTHS A
YEAR AGO

MAY
1981

JUNE
1981

FROM PREVIOUS
3 MONTHS

112.4
113.6
117.7
97.2
97.6

113.1
111.2
1 18.2
97.5
98.8

113.2
109.6
118.3
96.3
98.2

4.4
-5.5
5.6
-0.8
10.9

1.6
-1 . 1
1.7
-0.6
3.8

87.2

87.6

87.8

3.3

-1.0

116.8
100.8
108.2
104.9
91.8

117.4
98.2
109.5
105. 1
92.0

116.8
97.3
110.3
103.7
91.4

0.0
-23.1
3.7
-4.1
-1.7

1.2
-6.5
0.5
0. 1
2.7

89.6

90.4

89.6

3.2

-0.9

103.9
134.7
124.2
88.2
132.5

101.0
138.6
124.7
88.9
133.4

97.3
140.5
123.0
88.0
133.1

-27.9
0.3
-3.5
4.7
2.4

-6.5
7.2
1.3
8.6
1.2

83.4

84. 1

82.9

-3.3

-5.5

127.8
100. 1
83.3
95.3
133.5

127.2
95.4
85.2
95.3
133.5

128.6
94.7
85.8
94.4
131.3

-3.1
-40.7
5.4
-4.1
-9.9

-0.5
-5.7
-2.4
-0.7
-1.9

87.0

87.6

86.5

-1.8

-5.0

117.2
129.0
121.4
94.3

113.0
129. 1
120.6
94.5

111.9
129. 1
1 18.2
92.7

-25.2
2.8
-7.9
-6.5

-7.1
-1.9
-0.5
-0.8

97.0
87.0

97.9
89.8

96.7
87.8

6.0
10.6

-1.9
5.4

103.9
115.0
92.5
106.3

104.2
115.6
91.4
106.2

103.7
115.4
90. 1
104.5

3.1
-0.7
-8.7
-7.6

-3.4
-0.8
-0.8
-1 .1

85.0
80.4

85.4
78.6

84.4
79.9

-1.9
3.6

-2.6
-6.7

110.7
89. 1
105.5
90.3
126.6

111.4
86.7
107.1
90.1
126.6

110.9
86.5
105.9
91.6
124.0

3.7
-29.3
1. 1
1.8
4.6

0.6
-10. 1
0.6
3. 1
7.7

118.1

118.8

1 18.9

8.1

2.8

APRIL
1981

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

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981

9K ALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS



17

EMPLOYMENT INDICATO RS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
1972-100

1972-100

KENTUCKY

150

-

130 —

-

—

-

I 10

90
70

iilnliiln .n l n l n l n n l n l n l n -nlnlnln nl.nl n In.

■Illllllill! lllullllti n l n l n l n nlnlnln. iilnliiln

MISSISSIPPI

TENNESSEE

150

130

—

—

-

— --

-

110

130
110

90
70

150

90

Illllllllll Illllllllll Illllllllll Illllllllll Illllllllll
1977
1979
1978
1980
1981

Illllllllll Illllllllll Illllllllll Illllllllll Illllllllll

1977

1978

1979

1980

1981

LATEST DATA PLOTTED: JUNE



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

18

70

EMPLOYMENT INDICATO RS

M A N U FA C TU RI NG EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX: 1972** 100________

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

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981

MAY
1981

JUNE
1981

106.0

106.5
103.7

106.5

3.5

0.6

103.4

-0.8

0.0

-4.2
-0.7
12.7

-1.4

103.1
92.2
114.5
112.3

FROM PREVIOUS
3 MONTHS

FROM SAME
MONTHS A
YEAR A60

APRIL
1981

92.3

92.6

115.0
117.2

115.0
117.9

102.0

-9.6
1.9

101.7
98.4
87.6

101.4
109. 1
102.7
98.2
89.4

-5.2

108.0
102.5
98. 1
88.7

-3.1
-5.9
-9.3

-0.9
0.9
0.7

105.9

106.4

105.2

-0.8

-0.4

97.1
89. 1
99.8

97.0
88.5
103.4

96.6

-3.2
-5.2

8.6

-2.4
-3.4
-0.9

104.3
95.4

104.8
95.7

2.3
-3.7

1.9
0.0

102.5
107.9

88.2

104.5
104.7
94.0

2.1

4.2

2.1

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE I9GI

__________ 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




APRIL
1981

MAY
1981

JUNE
1981

FROM PREVIOUS
3 MONTHS

130.4

130.4

130.4

127.1
122.3
135.9
141.0

126.2
122.2

125.5
121.8

134.9
139.2

133.9
136.5

0.0
-9.8
-4.5
-6.3
-16.0

135.4
134.7

125.5
131.0
123.6

136.7
133.4
123.7
130.4
123.8

138.7

137.3
133.3

FROM SAME
MONTHS A
YEAR A60
1.2
-1.3
-0.6
0.6
-1.0

124.8
133.4
123.7

-3.4
-7.4
-23.2
-12.8
-4.1

0.6
-4. 1
-3.9
-2.4
-0.6

137.2

134.3

-9.4

-0.9

122.0
116.7
138.9

121.9
117.3
137.9

122. 1
116.0
139.1

-1.0
-2.4
-3.1

0.2
-0.2
-0.3

126.2
120.6

125.7
119.5

124. 1
117.9

-9.3
-8.3

-2.3
-0.7

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

19

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
1972-100




1972-100

ARKANSAS

135
125
115
105
95

MISSISSIPPI

MISSOURI

TENNESSEE

20

EMPLOYMENT INDICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1 9 7 2 -1 0 0
19 72-100




1972-100

21

EMPLOYMENT IND ICATO RS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX; 1972-100________
APRIL
1981

MAY
1981

JUNE

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-IL
SPRINGFIELD; MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981
FROM PREVIOUS
3 MONTHS

1991

FROM SAME
MONTHS A
YEAR AGO

124.1

124.3

124.3

1.6

1.2

120.1

1 19.6

118.9

-7.0

-0.9

114.2
129.1
130. 1

113.9

113.2

-4.4

-0.7

128.8
130.7

127.9
129.5

-4.2
-8.2

l.l
0.6

130.2
127.3

129.5
127.7

-4.2
-5.7

1 19. 1
121.4
112.0

117.8
118.9
112.2

128.4
128.4
118.9
120.8
112.4

-18.7
-9.1
-5.5

128.2

127.2

125.2

-6.6

-0.4
-3.0
-3.1
-1.0
-0.5
-0.7

115.6
108.7
128.2

115.5
109.0
128.3

115.2
108.1
129.3

-2.1
-3.2
-0.9

-0.4
-0.9
-0.5

118.8
115.5

118.7
114.6

117.6
113.1

-5.5
-7.7

-l.l
-0.6

STATE SUMMARY—TOTAL PAYROLL EMPLOYMENT
COMPOUNDED AMMUfcL RATE* OP tHANSE
' TERMINAL
QUARTER

INITIAL QUARTER
l->7

2-77

3= TT------O
.

4— T T .

3.7

1— 76

3-77

4-77

1-TB

M l

3-78

4—78

1-7*

2-79

3-79

1972-160
4-79

1-80

2-80

3-80

4-80

1-81

----------------------------------------------------------------------------------------------------------------------------------------------------------------------- 1 U .T
T

5 .3

5 .0

4 .4

4 .2

3 .1

* -* 8

6 .0

5 .7

4 .1

4 .5

9 .9

3 -7 8

5 .5

5 .3

5 .4

5 .4

4 .4

3 .4

4 -7 8

5 .3

5 .0

5 .1

5 .0

5 .4

3 .5

3 .7

1 -7 9

4 .9

4 .7

4 .7

4 .5

4 .9

3 .2

3 .2

2 .4

2 -7 9

4 .6

4 .4

4 .3

4 .1

4 .3

3 .0

2 .9

2 .5

6 -1 9

4 .2

3 .9

3 .8

3 .5

3«4

2 .4

2 .2

1 .4

1 .1

0 .0

4 -7 9

3 .8

3 .4

3 .3

3 .1

3 .0

1 .9

1 .7

1 .1

0 .7

- 0 .2

- 0 .3

1 -8 0

3 .4

3 .0

2 .9

2 .4

2 .5

1 .5

1 .2

0 .7

0 .2

- 0 .4

-0

~ T

j

1 1 4 .2
117*1

2 -8 0

2 .5

2 .1

1 .9

1 .5

1«4

3 -8 0

2 .0

1 .4

1 .3

1 .0

0 .8

4 -8 0

2 .1

1 .7

1 .5

1 .2

1.0

1 -8 1

2 .2

1 .9

1 .7

1 .5

1 .3

2 -8 1

1 .7

1 .3

1 .1

0 .8

0 .7

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1-78

1 1 9 .9

-

1 2 0 .9

2 .3

1 2 3 .5

.4

1 2 3 .4
—

1 .0

123 .1

0 .3

-

0 .1

-

0 .7

-

1 .4

-

2 .3

-

3 .0

-

4 .3

-

7 .4

-

0 .4

-

1 .2

-

1 .9

-

2 .7

-

3 .3

- 4 .3

-

5 .9

-

4 .2

0 .2

-

0 .2

-

0 .7

-

l.l

-

1 .7

-

2 .0

-

2 .4

-

2 .9

-

0 .5

0 .3

-

0 .1

-

0 .4

-

0 .8

-0 .9

-

1 .0

-

l.l

1 .2

4 .1

-

0 .4

-

0 .8

-

1 .2

-

1 .4

-

1 .8

-

2 .1

-

2 .3

-

0 .9

0 .2

2 -8 0

3 -8 0

0 .1

2 -7 8

3 -7 8

4 -7 8

1 -7 9

_______________________________________________________________________________________________




1 2 3 .5

0 .2

0 .4
-

1 2 2 .0
1 2 2 .8

2 -7 9

3 -7 9

4 -7 9

1 -8 0

1 2 0 .7
1 1 9 .4
3 .4

1 2 0 .4
4 .7
-

1 .3

4 -8 0

1 2 1 .8
-

7 .0

1 1 9 .4

1 -8 1 ______________

I N I T I A L Q U A R T E R ____________________________________________________________________________________ _______________

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

22

PRODUCTION AND P R IC E INDICATO RS
PRODUCTION OF SELECTED CROPS

1979

7,938,819
433,040
2,030
132,600
5,720
239,990
52,700

131,947
53,781
44,064
8,384
1,333

SOYBEANS
UNITED STATES
CMV STATES
Arkansas
Kentucky
Mississippi
Mi ssouri
Tennessee

2,267,901
571,435
144,200
53,950
118,900
183,645
70,740

145,063
64,182
52,615
9,226
2,341

1,817,097
354,700
69,600
36,800
61,600
138,250
48,450

1,526,549
447,974
343,145
104,829

1,782,618
528,893
416,962
111,931

16.4
67.7
163.5
35.9
206.0
86.6
94.8

177,408
86,657
69,520
13,903
3,234

22.3
35.0
32.1
50.7
38.1

2,017,468
448,850
104,400
47,600
85,100
153,000
58,750

11.0
26.5
50.0
29.3
38.1
10.7
21.3

1,965,238
673,113
513,043
160,070

10.2
27.3
23.0
43.0

14,694
2,600
625
1,550
175
250

33.4
32.4
40.8
35.6
-1.1
25.0

(1,000 Bales)
14,531
2,371
606
1,437
157
171

11,018
1,964
444
1,143
177
200

^August 1 forecast




7,734,941
411,880
2,730
140,760
7,540
204,750
56,100

(1,000 Pounds)

UPLAND COTTON
UNITED STATES
CMV STATES
Arkansas
Mississippi
Mi ssouri
Tennessee

6,647,534
245,610
1,036
103,600
2,464
109,710
28,800

(1,000 Bushels)

TOBACCO
UNITED STATES
CMV STATES
Kentucky
Tennessee

Percent Change
1980 to 1981

(1,000 CWT)

RICE
UNITED STATES
CMV STATES
Arkansas
Mississippi
Mi ssouri

1981 Indicated*

(1,000 Bushels)

CORN FOR GRAIN
UNITED STATES
CMV STATES
Arkansas
Kentucky
Mlsslsslppl
Mlssourl
Tennessee

1980

23

PRODUCTION AND P R IC E INDICATO RS




ELECTRIC

POWER CON SUMPTION

SEASONALLY ADJUSTED
INDEX: 1971-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS
150
130
1 10

90
70

150
130
110

90
70

24

PRODUCTION AND PRICE INDICATORS

E L E C T R I C POWER C O N SU M PT IO N
SEASONALLY ADJUSTED
INDEX: 1971— 100

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING JUNE 1081
FROM SAME
FROM PREVIOUS
MONTHS A
___3 MONTHS
YEAR A80

MAY
19SJ

JUNE
1981

121.5

121.1

123.0

-3.2

1.0

114.5

113.7

115.1

-3.8

1.8

113.6

113.3

114.3

0 . 0

2.3

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

104.2
105.5
155.2
127.1
130.8
144.3
85.8
95.2
99.9

100.8
96.6
152.0
127.2
133.7
146. 1
79.3
99.3
87.4

104.5
96.3
157.1
124.4
139.0
161.4
79.0
103.8
97.9

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

117.5

119.2

119.0

2 .1

115.5

118.7

117.2

2 .

124.4
125.8

120.9
124.5

127.9
121.8

93.1

97.1

95.4

9.3

4.8

167.9

143.5

165.6

-70.7

-15.4

APRIL
1981

UNITED STATES
TOTAL MANUFACTURING AND MINING
EIGHTH DISTRICT
TOTAL MANUFACTURING AND MINING
MANUFACTURING

1

in




6.8
19.0
7.2
16.9
5.9
8.3
-4.3
13.3
3.9
0.9

2.3
CM
1

MINING

-1.9
1.6
8.7
-9.5
-11.6
19.3
-32.5
151.9
-8.7

0.6
-0.2
3.0

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

25

PRODUCTION AND PRICE INDICATORS

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

RESIDENTIAL BUILDING

NONRESI DENT IAL BUILDING

TENNESSEE-WEST

LATEST DATA PLOTTED: 2ND QUARTER
Jj 4TH QUARTER DATA: 643.3
il 4TH QUARTER DATA: 389.3




26

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;

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

1974-100

COMPOUNDED ANNUAL
RATES OF CHANGE

1ST
QUARTER
1881-

2ND
QUARTER
. _18£.1_

2ND OTR 1980
TO
2M-

2ND QTR 1979
TO
2MO-..QTJ8 i M

161.8
152.5
152.6
160.7
121.9

198.7
197.6
184.7
159.2
125.9

26.7
31. 1
28.7
1.5
-4.3

-23.2
-9.3
-12.2
-14.2
8. 1

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

135.4
106.5
183.4
488.7
157.4
157.0
332.2
207.9
350.7
138.5
136.9

-36.3
39.9
22.3
118.2
73.2
10.0
96.8
22.0
213. 1
8.0
12.4

15.3
-76.8
-4.5
-28.6
-30.7
-12.7
-7.8
7.9
-65.8
-10.5
-11.9

165.6
164.9
136.5
182.0
151.6

212.1
1H.6
130.9
199.7
148.9

31.6
20,7
14.4
-8. 1

8.2

-34.6
-19.*
-40.*
-12.4
18.9

142.6
148.8
187.4
244.9
192.3
185.7
109.0
102.5
103.4
131.4
118.2

l24.4
254.3
207.5
221.4
125.0
198.5
196.1
129.9
151.4
131.5
109.3

37.5
70.9
41.0
35.9
32.1
12.4
19.5
3.5
44.3
-4.0
-20.2

-41.6
-42.9
-22.4
-56.4
-46.2
-1.7
-34.8
-44.6
-67.3
-22.9
-24.1

158.0
138.7
166.4
132.9
65.7

185. 1
203.3
237.9
106.0
81.4

21.6
44.5
43.6
-20.8
10.7

-5.8
9.3
33.6
-17.0
-20.5

265.4
38.9
123.0
231.0
77.9
92.0
215.0
247.3
135.7
114.2
115.0

151.4
46.6
154.9
795.0
191.0
104.1
457.0
279.5
565.3
145.0
160.2

-61.0
0.0
1.1
170.3
119.3
4.6
164.2
32. 1
373. 1
20.7
46.8

71 .1
-86.9
29.9
19.9
3.1
-30.4
43.9
123.7
-64.3
8.9
6.5

K USED WITH THE PERMISSION OF DODGE CONSTRUCTION
POTENTIALS. MCGRAW-HILL INFORMATION SYSTEMS COMPANY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOU

27

PRODUCTION AND P R IC E INDICATO RS

H OU SI N G P E R M I T S
SEASONALLY ADJUSTED
INDEX: 1974-100

1974-100




1974-100

KENTUCKY

MISSISSIPPI

28

PRODUCTION AND P R IC E INDICATO RS

H O U SI N G P E R M I T S
SEASONALLY ADJUSTED
INDEX; 1974-100________
APRIL
1981

UNITED STATES

MAY
1981

JUNE

1991

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1961
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR A60
3 MONTHS

105.4

90.7

82.5

-42.1

18.0

CMV STATE SUMMARY

73.6

68.4

60.7

-49.3

-21.2

CMV METROPOLITAN SUMMARY

97.3

54.8

69.8

-21.5

7.9

108. 1

62.8

172.2

-12.2

181.3

65.0

34.8

1,104.2

87.8

KENTUCKY
LOUISVILLE: KY-IN

60.5
97.7

93.4
62.7

58.4
82.8

-83.4
-23.8

-32.3
15.2

MISSISSIPPI

118.0

38.6

62.2

-51.2

-44.2

MISSOURI
ST. LOUIS: MO-1L

75.9
101.9

49.4
45.7

77.2
73.8

-26.5
-33.4

14.2
24.7

TENNESSEE
MEMPHIS: TN-AR-MS

59.0
52.1

64.0
57.1

56.7
50.7

-49.6

-25.2
-36.8

<M

86.4

00
i

ARKANSAS
LITTLE ROCK-NORTH
LITTLE ROCK; AR

STATE SUMMARY-HOUSING PERMITS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER
2-77

"
1-T7

2-ft

3-77

4-77

X-TB

INITIAL QUARTER
2-78

3-78

*-T8

1-77

2-79

3-79

*4.8

1974*100
9-79

1-80

2-80

3-80

4-80

1-81

162.8

S-T7-- 27.9

13.2-----------------------------------------------------------------------------------------------------------------1 4 7 ^

6-77

-3.2 -17.2

10.7

T-W~ ---1.5
2-78

5*6

3—78

-1.1

4-78

l.l

139.8

-4.B -19.5 -21.7

—2*3

-7.0

-1.5

-8.3 -13.0 -11.6
-4.7

-8.0

-5.5

150.3
24.0

158.6

-6.0 -28.8

145.7

0.6

-9.4

15.4

151.0

1-79

-13.0 -19.0 -23.4 -24.6 -25.3 -37.0 -40.7 -69.5

2-79

-0.3 -11.3 -14.3 -13.8 -12.1 -19.4 -15.9 -28.3

68.9

127.9

3-79

-7.2 -11.6 -14.3 -13.9 -12.6 -18.5 -15.6 -24.0

20.0 -14.7

122.9

4-79

-11.2 -15.4 -18.1 -18.2 -17.7 -23.2 -22.0 -29.3

-6.4 -30.3 -43.0

fi_8

1-80

-15.4 -19.4 -22.1 -22.7 —22.8 -27.8 -27.7 -34.1 -20.1 -37.8 -46.8 -50.5

89.6

2-80

-15.5 -19.2 -21.6 -22.0 -22.1 -26.4 -26.1 -31.4 -19.3 -32.9 -38.1 -35.5 -15.9

85.8

3-80

-6.4

-9.5 -11.1 -10.6

-9.4 -12.5 -10.2 -13.4

4-80

-6.8

-9.7 -11.2 -10.7

-9.6 -12.4 -10.4 -13.2

112.2

3.1

-6.6

-4.4

13.6

0.8

-7.5

-6.0

6.6

72.0 251.7
37.5

117.5

75.9 -12.0

113.8

1-81

-14.2 -17.2 -49.0 -19.1 -18.9 -22.0 -21.3 -24.6 -15.5 -23.5 -24.8 -20.6 —10.6

2-81

-16.9 -19.7 -21.5 -21.8 —21.8 -24.7 -24.4 -2T.5 -20.2 -27.3 -28.9 -26.3 -20.2 -21.2 -52.2 -64.7 -49.3
1-77

2-77

3-77

4-77

1-78

2-78

3-78

4-78

1-T»

2-79

_____________________________________________________________ i n i t i a l




3-79

4-79

1*60

-6.8 -53.5 -75.5

2-60

3-80

4-80

80.1
67.6

1-61_________

q u a r t e r ________________________________

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

29

PRODUCTION AND P R IC E INDICATO RS

PRICES

RECEIVED

BY FARMERS -

UNITED

NOT SEASONALLY ADJUSTED
INDEX: 1971-100

CORN

,

ST AT ES

t u c c - r n n v

BEEF CATTLE
350
—

: i 1 i

—

I lUJ Lulu. 11111111111 n il ll 1 1 11 1 11 l-i 1 11 1 1n

RICE

BROILERS

350
—

—

—

190

30

270
110

Ill Jill. 11.11 ni l , 111111 11111111111 ii 1ii 1iiLi

i

u l u l u 1ii

T i n L u l u 11111111111 11 ll.lJ 11111 11111111111

SOYBEANS

HOGS

TOBACCO

MILK

1 1 1 1 1 1 I J 111

350

30

350
—

—

vV r

190

—

-

270
190
110

110

30

110

190

110

270

190

350

270 —

30

270

nl a Lu In 11 l.i11111ii 11111111 In. 1111111 ll 11 .uli li.l 1111-




111 11 1111 11 111II 1.11111 111 III 11111 n l i i l n l n

UPLAND COTTON

x l Lll l u l u

TURKEYS

30
350

—

—
-----

270
190
110

■II 1111u l u n 1u li.l lu li Liil11111

1977

1978

1979

1980

-11111111111

.1981

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

30

30

PRODUCTION AND P R IC E INDICATO RS

PRICES

RECEIVED

BY FARMERS -

UNITED

STA TE S

NOT SEASONALLY ADJUSTED
INDEX•. 1971-100________
MAY

APRIL
1981

ALL FARM PRODUCTS
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

230.0

231.6

LIVESTOCK AND LIVESTOCK
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

JUNE
1981

\ M 1

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 198J
FROM SAME
MONTHS A
FROM PREVIOUS
YEAR AGO
3 MONTHS

230.0

-4.9

13.9

255.8

254.2

243.6

-10.5

21.5

255.6
260. 1
258.6
236.9
300.0

255.6
250.7
252.5
227.2
296.3

250.0
224.3
241.6
221.4
291.4

-0.5
-6.0
-12.7
73.5
-7.1

32.8
17.8
27.9
20. 1
12.3

212.6
208. 1
194.8
217.6
231.6
175.2

209. 1
203.6
205.0
228.2
229.9
177.9

216.5
209.8
212.2
264.4
228.2
212.2

-0.4
10.9
-24.4
22.9
-12.6
17.4

7.0
-1.2
17.2
41.9
7.1
26.7

________________________________________________________ PR1CES-ALL FARM PRODUCTS________________________________________________________
COMPOUNDED ANNUAL KATES OF CHANCE
Te r m i n a l
initial quarter
i 971*100
QUARTER__________________________________________________________________________________________________________________________________
1-77

2-77

3-7 7

4 -7 7

1-78

2^71

3-78

4-78

1-79

2-7 9

3-79

4-7 9

1-90

2-6 0

3-80

4 -8 0

H

i

T = T T --- ------------------ ---------------------------------------------------------------------------- 168^
3 -7 7

-1 0 .7 -2 5 .2

6 -7 7

-5*2 -10*6

M

1-71

^4

19*8

~2-7i

"IKJ~ 12*5

199*1
34^4

171*3

28*9

61*6

69*1

3-78

9*3

9.9

21*0

24*1

22*1

0*0

6-78

9*3

9*7

18*5

21*6

17*6

6*6

8*9

1-79

13*3

16*3

22*7

26*1

26*2

16*8

26*3

66*3

2-79

12*8

13*6

20*6

23*0

20*9

16*7

20*0

26*0

8*5

3-79

10*7

11*2

16*8

18*3

15*8

10*1

12*8

16*2

0*8

-6*3

6-79

9*2

9*6

16.2

19.1

12*6

7*9

9*0

9*0

-1*1

-9*6

-9*0

6 *2

8*6

12*5

13*1

10*7

6*1

7*2

6*8

-1*3

-4.3

-3*3

-1.7
-8*0 -13.9

1-80

'

2*6

196*5

189*3
189*3
193*4
212*7
217*1
213*6
210*9
210*0

2-80

6*6

6*3

9*8

10*1

7.7

3*6

3*9

3*0

-3.9

-6*8

-7*0

3-80

9*3

9*5

13*0

13*6

11*7

8*2

9*3

9*3

6*1

3*3

5*8

9.7

19*8

95*8

6-80

9*6

9*8

13*1

13*6

11*9

8*7

9*8

9*9

5*5

4*9

7*3

10*7

19*1

33*1

13*8

1-81

9*0

9*1

12*1

12*5

10*9

7.9

8*7

8*7

6*8

4*2

6*1

8*4

11*1

21*0

6*7

0*0

2-81

8*1

8*2

10*9

11*2

9*6

6*8

7*6

7*3

3.6

3*0

4*4

6*1

7.7

13*9

2*7

-2.9

-6.9

2-77

3-77

6-77

1-78

2*78

* - 7 8 ..- E r T f

2- 7 ?

*Tl»

1-80

2-80

6-80

t-8*_________

It ? ? .




..I r T t .

202*3
226*0
233*4
233*4
230*9

INITIAL QUAMTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

31

Farm Land Values

1977=100

1977=100

2201---

--- .220

________________Index 1977 - 100_______________

________Percent Change

February
1977

February
1978

February
1979

February
1980

February
1981

1979 to 1980

nited States

100

109

124

143

156

15.3

9.1

MV State Summary

100

115

134

152

165

13.4

8.6

100
100
100
100
100
100
100

no
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




32

1980 to 1981

PRODUCTION AND P R IC E 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
May 1981_______
Index
1967 = 100
May 1981
All Items
Food
Housing
Apparel and
Upkeep
Transportation
Medical Care
Entertainment




From Two
Months Ago
(Annual Rate)

From
Previous
Year

Percent Change to
________May 1981
Index
1967 = 100
May 1981

From Two
Months Ago
(Annual Rate)

From
Previous
Year

268.0
268.4
288.7
179.6

21.9
2.3
47.5
-12.1

10.8
8.8
13.1
1.3

269.0
272.5
288.5
186.4

9.2
0.7
13.2
4.3

9.8
8.8
10.2
5.0

266.7
273.3
224.8

11.0
12.7
1.6

10.9
12.6
7.8

277.8
289.0
220.3

9.8
9.4
5.9

11.6
9.7
8.0

33

F IN A N C IA L INDICATORS




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

1974-100

LITTLE ROCK - NORTH LITTLE ROCK: AR
210

170
130
90

LOUISVILLE: KY-IN

34

SO

F IN A N C IA L INDICATORS

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

TQTAL LOANS

UNITED STATES**
METROPOLITAN SUMMARY*
COLUMBIA; MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TEXARKANA: AR
TOTAL D E P O S IT S .

UNITED STATES**
„
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TEXARKANA: AR

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

APRIL
1981

MAY
1981

JUNE
1981

178.0
164. 1
210.5
196.2

179.1
161.8
209.0
190.4

180.6
161.5
208.3
195.4

9.2
4.8
14.6
-11.1

8.5
4.3
9.5
-0.1

207.8
196.6

211.7
202.3

210.6
209.1

16.3
31.7

9.3
4.8

164.8
201.1
113.2
173.3
162.7
147.5
209.9

167.8
195.6
116.2
170.7
157.1
145.7
213.6

165.8
198.4
120.0
173.1
154.7
141.8
211.8

-6.2
10.5
11.8
2.1
2.3
-20.0
-1.3

-0.7
8.1
5.2
-3.3
3.6
12.2
1.5

169.9
153.8
218.6
201.2

171.5
156. 1
220.7
201.6

172.6
156.7
218.0
200.5

10.4
7.0
6.1
2.6

9.9
11.3
7.1
9.2

186. 1
194.7

191.4
195.6

190.9
197.6

18.0
9.5

12.4
6.8

159. 1
187.6
133.7
165. 1
137.0
134.8
200.2

161.4
191.1
135.0
167.3
139.5
135.1
203.5

162.5
191.2
132.9
167.2
140.6
134.1
202.5

-4.6
1.7
4.0
7.8
14.4
1.5
13.5

8 .0
7.6
13.4
6.7
14.0
12.5
1 0 .8

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

APRIL
1ML

MAY
1981

JUNE
1981

JUNE
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

388.00
116.00
270.00
72.00

5.00
3.00

5.00
3.00

5.00
3.00

5.00
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
120.00
97.00
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

* EXCLUDES BANKS IN T*0 METROPOLITAN AREAS
BEX ALL DOMESTICALLY CHARTED COMMERCIAL BANKS



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

F IN A N C IA L INDICATORS

SEASONALLY ADJUSTED
INDEX: 1 9 7 4 -1 0 0

NONMETROPOLITAN ARKANSAS

NONMETROPOLITAN KENTUCKY
220
—

—

180
140
100

- L i lli 111 I I I

n l i i l n l u ,I..I.111 l.n 111 11 li.il n 111 u l i i l n l n

NONMETROPOLITAN MISSISSIPPI

60

NONMETROPOLITAN MISSOURI
220
i . l ,i




N O N M E T R O P O L I T A N MEMBER BANK DATA

____

— 180

140
100

n 11 1 11 1 1 11 -i 1 1n 11 1 111 .Lll 1111 11 11 i i 1 i i 1i i 1i i - U - I i l l l l l l l

NONMETROPOLITAN TENNESSEE

60
220

—

— 180
140
100

i 1111 1i i 1i i 111111111i 1 11111111111 1111i 111111 11111111111
1977
1979
1978
1980
1981
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

36

60

F IN A N C IA L

INDICATORS

N O N M E T R O P O L IT A N MEMBER BANK DATA
SEASONALLY ADJUSTED
__________ INDEX: 1974-100________
MAY
1981

JUNE

1981

193.7

194.4

195.2

9. 1

6.3

176.0
214.7
188.0
219.7
192.8
178.8
188.2

178.5
215.2
186.6
217.0
194.7
18C.0
187.0

179.8
215.5
186.7
216.9
196. 1
179.7
188.4

15.2
3.8
1.9
11.2
19. 1
5.5
9.7

9.2
2.4
4.3
8.7
9. 1
4.7
1 1.6

175.0

176.6

177.0

7.9

1 1.0

165.0
182.0
160.7
202.3
193.7
165.3
162.4

167.1
182.8
161.2
203.7
197. 1
166.9
161.7

168.6
182.9
161.7
204.7
197.8
167.4
162.0

12.7
4.7
6.2
10.7
15.6
2.4
7.8

13.8
10. 1
7.7
12.2
13.5
10.7
6.9

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

COMPOUNDED,ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING JUNE 1981
FROM SAME
FROM PREVIOUS
MONTHS A
YEAR AGO
___3 MONTHS__

1981

MEMBER BANK DATA BY ST A TE
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 JUNE 1981
FROM SAME
MONTHS A
YEAR AGO

APRIL
1981

MAY
1981

JUNE

172. 1

170.5

170.9

6.3

4.8

175.7
187.4
186. 1
206. 1
194.0
166.8
121.6

178.5
187.8
182.8
200.9
195.7
162.1
124.3

178.7
187.7
186.0
202.9
197.5
160. 1
127.7

6.6
4.8
-4.6
10.3
17.4
1.5
12. 1

4.0
3.9
1.8
7.6
8.2
3.6
6.6

160.8

163. 1

163.5

7.2

11.1

168.0
158.9
177.0
192.5
195.2
146.9
137.4

170.3
159.4
177.4
195.4
199.0
149.6
138.2

171.2
160.0
177.2
195.4
199.5
150.0
136.6

7.6
4.6
4.9
3.8
15.7
13.4
4.5

10.6
9.5
8.9
8.5
13.6
14.0
12.5

1981

FROM PREVIOUS
___3 MONTHS__

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

F IN A N C IA L 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: 1 9 7 4 -1 0 0

ARKANSAS

300
250
200

ISO
100

KENTUCKY

MISSOURI

LATEST DATA PLOTTED: JUNE



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

38

F IN A N C IA L 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________

1981

MAY

1981

JUNE
1981

FROM PREVIOUS
__ 3 MONTHS__

FROM SAME
MONTHS A
YEAR AGO

220. 1
219.7
210.3
240.7
236.9

220.6
220.8
211.0
241.3
238.0

219.8
220.0
210.0
240.4
235.4

0.9
2.8
0.8
-0.8
0.3

7.4
7.3
6.4
5.6
7.7

218.3
192.8
210.2
182.1
274.9
207.8
218.0
181.9
224.4
203.3

224. 1
161.3
210.6
182.0
276.8
208.8
218.9
182.0
226.0
205.2

221.4
159.9
211.2
181.0
275.4
208. 1
218.4
179.8
225.3
204.0

0.2
-40.2
2.7
1.6
1.3
2. 1
1.9
-5.5
5.1
3.0

5.1
-8.9
8. 1
6.5
7.6
6.7
7.0
4.2
8.5
6.8

212.2
209.2
201.6
217.4
227.9

212.9
209.5
201.4
217. 1
225.8

213.2
209.3
201.8
218.0
226.6

4.0
1.7
2.4
2.0
-6.4

6.6
4.3
4.8
4.3
4.5

199.6
188.4
209.8
190.7
233.7
200.3
207.2
187.5
215.8
184.4

205.0
157.6
210.1
191.0
234.7
200.4
206.8
187.3
216.8
184.8

207.9
157.7
20S.7
191.8
234.5
200.2
207.2
185.6
216.8
184.9

13. 1
-25. 1
4.9
6. 1
1.0
0.8
2.8
-3.6
3.4
2.0

7.0
1.0
6.7
7.6
2.9
3.5
4.8
-1 .3
4.9
2.6

APRIL

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

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING JUNE 1981

NUMBER OF SAV1NGS AND LOAN ASSOC 1AT 1ONS
MAY

1981

1981

JUNE
1981

JUNE

3,955
388
80
71
4

3,939
413
85
75
4

3,933
388
79
75
4

4,028
416
87
76
4

7
2
75
9
57
107
49
4
78
5

7
3
85
10
59
107
52
4
87
5

7
3
78
7
59
107
49
4
69
5

7
3
92
11
59
111
51
5
78
6

APRIL

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



1980

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

39




POPULATION
Bureau of the Census
Compounded Annual
Rates of Change
1970
to
to
1980
1970

1970

1980*

203,302,031

225,478,656

1.0

1.3

15,964,668

17,890,393

1.1

.8

CMV Metropolitan Areas

5,655,075

5,991,673

0.6

1.3

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

1,923,322

2,284,037

1.7

.7

127,846
160,421

177,013
202,367

3.3
2.4

3.3
1.7

323,296
85,329
113,488

393,781
90,761
126,531

2.0
0.6
1.1

1.7
.5
1.2

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

3,220,711

3,642,795

1.2

.6

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

149,331
307,103
901,672
85,702

2.3
0.8
0.4
0.8

.6
.5
1.4
1.2

Mississippi

2,216,994

2,511,491

1.3

.2

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

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

4,906,480
100,240
2,341,351
206,054

0.5
2.2
-0.3
2.1

.8
3.9
1.2
1.9

Tennessee
Memphis:

3,926,018
834,103

4,545,590
909,767

1.5
0.9

1.0
1.4

United States
CMV States

♦Provisional

TN-AR-MS

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