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SELECTED ECONOMIC INDICATORS
EIGHTH FEDERAL RESERVE DISTRICT
METROPOLITAN AREAS
ST. LOUIS
MEMPHIS
LOUISVILLE
LITTLE ROCK

Prepared by Research Department
Federal Reserve Bank of St. Louis
February 28 1963

,

Sf. Louis Metropolitan Area
February 28, 1963

Production and Spending
Seasonally Adjusted
Three-Month Moving Averages

Banking Activity
Seasonally Adjusted

*Change m estimating procedure

*Debits to dem and deposit accounts, except interbank and U S . Governm ent accounts

M W POWER OTILIZATlOa

Avenge Hours Worked
Total Boloynent
Seasonally
Thousands
Adjusted
of Persons
Index

Unemployment Bate

Per Cent

Seasonally
Adjusted

(Nuufecturlng)

Unadjusted

Seasonally
Adjusted

PRODUCTION AliD SPEHDDIG
Industrie! Use of
Department Store Sales
Check Payments
Electric Power
ly
Seasonally
Seasonally
Unadjusted Adjusted
Unadjusted Adjusted
Millions
Adjusted
Index
Indeac/
of Dollars
Index V
Index
Index N

BARKING
Business Loans
Total Deposits
Seasonally
Seasonally
Adjusted Millions
Adjusted
Millions
of Dollars
Index
of Dollars
Index

Annual
Averages
1957
1956
1959
1960
1961

а.
n.a.
5.5
k.7
б.1
5.k

100.7

98.8
100.6

106.3

103.8

1962

103.7

a.

kO.O
39.3
39.9
39.7
39.6
kO.2

98.0
98.2
103.7
10k.2
102.6
105.7

97.6
9k.5
lOB.O
109.7
109.9
120.0

98.0

103.1
98.3
10k .6
120.0
117.0

96.6
105-k
112.9
117.1
125.3

99.2

101.8

99.0

9k.8
101.2
10k. k

119.6

1962
July
Au«.
Sept.
Oct.

10k .6
10k .7
10k.0

lo r.

829
827
827
822
8lS

Dec.

820

103.5
103.5
1Q3-1

5.3
5.0
k.5
k.k
k .6
5.0

JOa.

802

102.8

6.2

5.5
5.3
5-2
5.1
5.1
5.0

k0.3
kO.3
k0.5
k0.3
kO.3
k0.6

kO.k

119.7
Hk.3
122.5

5el

b0m2

kO.0

115.k

39.9
kO.O
k0.9
kO .2

ko.2

129.2

122.1
12k.k.

123.1
123.0

120.2
119.0
H9 . 3
120.9

122.2s

88.3
96.7
109.7
107.1

127.0
191.9

82.3

10k.7

12k .9
12k .2
12k .9
126.6

10k .3
10k .6
106.2
106.1

3»kl7
3>3kk
3,072
3,578
3,373
3,710

131.3
133-k

k03
kll
kl2
k09
klO
klk

107.0s

3,750

135.1*

kOk

105.9

10k.3
103.3
105.0
106.3

126.6

1,23k
1,225
l,2kl
1,255
1,250
1,29k

126.6

1,31k

110.0

121.3

122.1
121.6
123.0
123.9

106.1
107.8

Index 1957-59 « 100
Three -month ncnrlaf averages
Meekly reportin* hanks data




Monthly data for 1960-62 available on request

Production and Spending

Memphis Metropolitan Area

Seasonally Adjusted
Three-Month Moving Averages

February 28, 1963

M anpower Utilization
Seasonally Adjusted

1957-59=100
108r

Total Employment

1957-59=100
108

Banking Activity
Seasonally Adjusted

am

104
100

1957-59=100

^ jJ a n u o ry

-1 -1

1 1 1 1 1 1 1 1 1

Per C ent

'— i *

1 i

'

L 1 1 1 1 1

■ 1 1 1 1 1 1 1 1 1 1 1

Unemployment Rate

7

140

100

Per C ent

140

130

7
'

120

............... 1--------- --------------------------- -

120

---------------- V
__

_

110

Ja n u a ry

-L-1 -1 1 1 1 1 1 1 1 1 - H I M I M I I I

' 1 1 1 1 1 i

1 i

1

■
■1 1 1 1 1 I

> 1 1 1 1 ^ !

1 1 l 1 1 1 l

-L -i 1 1 1 1 M

1 1 1

150
. j anuary

1 1 i-r

Average Hours W orked (Manufacturing)

140

140

130

130

120

120

110

1961

1962

100

1963

110
-1 »

1> 1 I

1 1 1 1 » -11

1961

1 1 1 1 1 1 1 1 i -1—1-1 .1 1 t 1 l 1 1 1

1962

1963

Debits to demand deposit accounts, except interbank and U.S. Government accounts.
MAM POWER UTILIZATION
Total Employment
Seasonally
Thousands
Adjusted
>f Persons
Index

Unemployment Rate

Per Cent

PRODUCTION AMD SPENDING_____________
Industrial Use ofCheck Payments
Electric Power
Department Store Sales
Seasonally
Seasonally
Seasonally
Adjusted
Adjusted
Millions
Unadjusted
Seasonally Unadjusted Adjusted
Index 1/
Adjusted
Index
Index l/
of Dollars
Index
Index 1/

(Manufacturing )

Seasonally
Adjusted Unadjusted

Business Loans 2 J
Seasonally
Adjusted
Index

Millions
of Dollars

Total Deposits 2/
Seasonally
Adjusted
Index

Millions
of Dollars

Averages
100.2
9B .9

1957
1958
1959

1960

102.9

103.4

1961

1962

July
Aug.
Sept.
Oct.
Mov.
Dee.

5.0
6.7
5.3
4.8
5.3
4.4

100.9

104.2

40.3
39-3
41.0
40.6
41.0
40.6

96.7
86.7
114.6
118.2
131.9
155.2

238
239
240
239
239
240

104.1
104.3
104.7
104.3
103.9
103.7

4.6
4.2
3.9
3.5
4.0
4.1

4.6
4.4
4.4
4.1
4.3
4.4

40.7
40.6
41.0
41.4
41.0
40.0

40.6
40.8
40.6
40.4
41.0
40.1

147.7
141.8
157.3
151.9
156.4

155.5
158.3
158.0
158.4
153.3
151.7

237

104.5

5.1

4.6

39.7

39.9

150.3

151.6e

166.6

96.8

93.3
97.3
109.4
104.4
102.9
109.9

101.8
108.5
110.6
111.4
136.0
196.6

82.0

101.0
97.1
101.9
117.1
123-6

95.4

107.8
112.3
124.1

128.8

130.8

111.1
111.3
112.4

131.4
132.7
127.7
125.9
125-6

185
187
200
235
239
245

130.3
128.9
135.5
149-5
125.6
121.0

110.7e

1,191

129*9®

232

123.9

108.8

108.6
120.9
131.4

130.8

1,000
1,024
985
1,372
1,250
1,170

109.9
112.5

95.6
99.4
105.0

611
636

131.3
133.3
134.0
134.9
139.5
143.0

638

141.4

569
597

600
595

Apr.
M v

 2/ Weekly reporting banks


Index 1957-59 - 100
data

n.a. Mot available

110

Total Deposits

150
C !

130

January

|--------------------------------------

"

11957-59=100
-----------150

Business Loans

1 5 0 1----------

104

Monthly data far 1960-62 available on request

100

Louisville Metropolitan Area

Production and Spending
S e a s o n a lly A d ju s te d
T h ree-M o n th M oving A v e ra g e s

Manpower Utilization

February 28, 1963

Banking Activity
S e a s o n a lly A d ju s te d

‘ Revision in sample.
'*Debits to demand deposit accounts, excep t interbank and U S . Government accounts

MAN POWER UTILIZATION
Average Hours Worked
(Manufacturing)

Annual
Averages

Thousands
of Persons

Seasonally
Adjusted
Index

Pep Cent

102.2
97-5
100.3
99.8
98.3
101.3

1957
1958
1959
1960
1961
1962

Seasonally
Adjusted

Seasonally

5.4
8.6
6.5
6.6
7.4
5.1

40.7
40.7
4o.6
4o.O
40.5
40.8

____________________ PRODUCTION AMD SPENDING
Industrial Use Of
Electric Power
Department Store Siles
Seasonally
Seasonally

_____________ B A N K I N G _______________
Check Payments
Seasonally
Adjusted
Index V

Millions
of Dollars

"-fly*
106.4
90.8
102.8
106.0
96.0
107.1

Business Leans -7
Total Denosits
----------Se£3Cr>any
Seasonally
Millions
Adjusted Millions
Adjusted
of Dollars
Irta*__ of_D^ L a£l -- L_

104.9
97.4
97-7
109.4
115.9
114.5

97.9
97.6
104.5
103.4
106.1
111.0

99.1
97.8
103.1
97.9
98.4
105.3

99-3
99.5
101.2
99.8
104.0
110.9

1962
July
Aug.
Sept.
Oct.
Hov.
Dec.

286
285
288
287
283
281

101.1
100.7
101.1
103-4
100.9
100.1

4.8
4.7
3*9
4.1
5.0
5.0

4.8
5.1
4.8
4.7
5.2
5.2

41.1
40.6
40.9
40.5
41.0
41.3

274

101.1

5*5

4.8

n.a.

41.1
40.4
40.3
40.2
41.2
40.7

106.9
100.5
112.7
103.3
105.1
112.1

109.5
106.9
105.4
105.6
106.6
108.4

106.2

109.5e

91.7
95.8
110.7
102.6
130.1
211.5

105.1
110.3
105.6
106.4
106.1
104.1

1,012
1,033
938
1,133
1,068
1,079

111.2
112.5
115-1
116.9
116.8
122.5

123
123
125
130
140
160

109.8
113.2
118.1
122.0
121.2
127.5

k69
464
473
471
483
480

111.6
111.3
112.7
112.3
113.2
112.6

101.5e

1,251

123.9e

149

128.1

498

114.8

1963
Jan.
Feb.
Mar.
Apr.
May
June

 1 / Three-month moving averages
2/ Weekly reporting banks data


e Estimated
n.a. Not available

n.a.

64.5

Index 1957-59 « 100
Monthly data for i960-62 available upon request

Little Rock Metropolitan Area

Production and Spending
Seasonally Adjusted
Three-Month Moving Averages

February 28, 1963

Banking Activity
Seasonally Adjusted

Total Deposits

*Oebits ta demand deposit accounts, except interbank and U.S. Government accounts.

m PWER UTILIZATION
Total Bnploynent
Seasonally
Thousands
Adjusted
of Persons
Index

Unemployment Rate

Per Cent

Seasonally
Adjusted

Average Hours Worked
(Manufacturing)

Unadjusted

Seasonally
Adjusted

__________ PRODUCTIOB AMD SPENDING
Industrial Use Of
Electric Power
Department Store Sales
Seasonally
Seasonally
Unadjusted Adjusted Unadjusted
Adjusted
Index
Index j/
Index
Index 1/

Check Payments
Seasonally
Adjusted .
Index i/

Millions
of Dollars

gusto*?? LQ M 6
I r t f l L Cepgsitg 2(
Seasonally
Seasonally
Adjusted Millions
Adjusted
Index
of Dollars
Index

Millions
of Dollars

Annual
Averages

96.4
100.3
103.4
106.4
106.7
107.6

1957
1958
1959

1960
1961

1962

4.5
5.7
3.6
3.8
4.7
3.6

92.0
94.2
113.7
124.1
127.3
141.7

40.3
40.0
40.4
40.1
39.6
39.^

99.5
98.5
102.0
97.2
95.4
97.1

91.9
97.9
110.2
110.1
117.0
128.3

91.1
95.3
113.6
131.9
150.2
154.0

95.7
100.2
104.1
107.7
117.2
124.5

Ig2
July
Aug.
Sept.
Oct.
Dee.

104

103

106.9

104
103
1QL
99

107.5
107.0
105.3
104.0
105.7

97

107.6

39.7
40.2
40.9
40.6
40.0
38.8

39.3
40.1
40.2
40.4
39.9
38.6

118.1

139.3

4.4

4.0
3.5
4.0
3.7
3.7
3-6

115.2
155.5
165.1
169.7
164.3

142.6
1^5.5
145.6
141.2
139.8

84.6
93.6
99.7
102.0
123.9
184.7

*.9

3.*

39.5

40.0

135.8

I40.3e

66.8

3.5
3.0
2.8

2.9
3.5

96.1
98.0
94.8
96.6
99.4
100.4

188

36
36
36
38
39
39

153.0
157.6
155.9
159.7
161.4
154.2

193

124.6
125.3
123.6

295
297

131.9
129.1
129-7
127.3
132.4
139.0

184
187

124.6
124.5

350

144.6e

38

155.9

194

129.3

293
296
252

326

189
188

126.0

m
Jan.
Feb.

96.4e

Apr.
May
Index 1957-59 ■ 100
Three-month moving averages
data

 % Weekly reporting banka


e
Estimated
n.a. lot available

Monthly data for 1960-62 available upon request

These data are presented as an aid in following economic
developments in the four metropolitan centers. Because economic
activity hy its very nature is a composite of many different seg­
ments, a more meaningful picture of economic developments can he
obtained by considering the entire set of indicators as a whole
rather than by placing undue emphasis on any single indicator.
Moreover, there may be shortcomings in each series which may create
a misleading impression.

1/
All the data have been adjusted for seasonal variations.
In addition, in order to smooth erratic fluctuation in the data,
the electric power, department store sales, and check payments
series are presented as three-month moving averages. It should
be noted that the most recent index presented for each of these
three indicators is an average of the last two months and is sub­
ject to revision.
The index of the industrial use of electric power is
based on data provided to this Bank by the public utilities in
each area. Employment data are developed by the respective State
Employment Security Offices. Cooperating department stores in
each center provide total sales figures. It should be recognized
that these data relate only to department store sales and do not
necessarily reflect trends and fluctuations in other categories
of retail sales or of total, retail sales. Check payments, or debits,
are reported monthly by all or a sample of commercial banks. The
data for total deposits and business loans are provided by the
weekly reporting banks in each area, the monthly figures being
averages of weekly data.

1/ The August




19 6 2 Review of this Bank discussed seasonal varia­
tions in these four metropolitan area.

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