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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.