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National Economic Trends
The demand for producers' ca p it al goods has been exceptionally strong during the current
economic expansion. This s tr e n g t h is indicated by the grow th of real nonresidential fixed investment
purchases and its components, equipment and s tru ct ur e s, in the tab le below. The pace of investment,
led by equipment purchases, outstripped t h a t experienced in the com parable period of the six previous
expansions. Indeed, the growth in plant and equipment inve stmen t has been f as te r than in any
six- qu art er period since 1947, ex ce pt from mid-1963 to early 1965, when such purchases rose at about
a 17 pe r c e n t rate. Both inve stm ent booms were fueled by major new tax incentives arising from
liberalized de pr ec iat io n rules and extensions of inve stm ent tax credits.
The r ec e n t s tr en g th is also noteworthy in light of the tendency for producers' investment to be
even str on ger in the la t e r s ta g es of an expansion. In th e early sta ge of an expansion, growth in
demand for cap ital services can be met more cheaply by increased utilization of existing, but idle,
plant and equipment resources. At the last recession trough, the Federal Res erv e index of capacity
utilization in manufacturing was 69.0 p erc e n t, th e lowest level since 1947. This measure rose to 82.8
pe r c e n t in July and August of this year, the fa s te s t p ac e of increase during the initial six quarters of
expansion since the 1949-51 period. In the past, inv estment booms have tended to occur when
capacity utilization equals or exceeds about 82 p er ce n t, since the demand for additional capital
services increasingly requires new purchases.

Real GNP and Purchases of Capital Goods
In The First Six Q uarters of Economic Expansions
(compounded annual r a t e s of change)

Expansion period
IV/1982 - 11/1984
1/1975 - III/1976
IV/1970 - 11/1972
1/1961 - III/1962
11/1958 -• I V /1959
11/1954 -- IV/1955
IV /1949 - 11/1951

Real
GNP
7.1 ?
5.3
5.7
6.0
5.7
6.6

11.2

Real
nonresidential
fixed investment
16.4%
3.7
5.3
8 .1

7.0
12.3
14.1

Producer
durable
equipment

Producer
structures

21 .0 %

6.2 %

4.4
7.9
11.2

2 .1

0.9
4.5
2.5
7.5
15.0

10.8

15.9
13.2

—John A. Tatom


http://fraser.stlouisfed.org/
V ie w s ex pre ssed do n o t necessarily re flect official positi ons of th e Federal Reserve Syste m .
Federal Reserve Bank of St. Louis

T O T A L C I V I L I A N EMPLOYMENT
COMPOUNDED ANNUAL R A TES OF CHANGE

4-83

5-8 3

6-8 3

7-83

8-83

THOUSANDS
UF P E R S O N S

MONTH

INITIAL
3-83

2-83

1-83

9-83

10-83

11-8 3

12-83

1-84

2-83

1.0

1.8

4-63

1 .8

2.7

1.9

2.4

2.7

3.9

4.8

5.9

7.0

4.2

5.0

5.9

6.7

9.1

5.9

8-83

4.1

4.7

5.3

5.8

7.1

4.5

3.1

Q-83

4.1

4.7

5.2

5.6

6.5

4.6

3.9

4.7

10-83

3.8

4.3

4.6

4.8

5.4

3.7

3.0

2.9

l.l

11-83

4.2

4.6

5.0

5.2

5.8

4.5

4.1

4.5

4.4

12-83

4.?

4.6

4.9

5.1

5.5

4.4

4.1

4.4

4.2

5.9

4.0

-IC
O
1

4.1

4.4

4.7

4.8

5.2

4.2

3 .9

4.1

3.9

4.9

3.5

7-84

12.5

7-83

6—6 4

1.9

6-83

5-84

3.6

5-83

3-64

0.2

3-83

2-84

I
O
D
*

TERMI NAL
MONTH

V 9 , >172

2.9
8.5

9 9 , > 316
v v , >o C 6
99,, 762
100,► 43
7
I t 1,, 2 2 5
101, , 4 8 4
I C I ,, 6 76
1C 1 1 70
>9
7.7

1 0 2 , , 6 Go
1 02 i» 9 4 1
1 0 3 i, 190

2-84

4.4

4.8

5.0

5.2

5.6

4.7

4.6

4.8

4.8

5.8

5. 1

5.7

3-84

4.3

4.6

4.9

5.0

5.3

4.5

4.4

4.5

4.5

5.2

4.6

4.7

5.7

2.9

4-84

4.2

4.5

4.7

4.8

5.1

4.4

4.2

4.3

4.3

4.8

4.3

4.3

4.8

3.0

3.1

5 — 8*«

4.6

4.9

5.1

5.3

5.5

4.9

4.8

5.0

5.1

5 .6

5.3

5.6

6.2

5.5

6.8

10.7

6-84

4.6

4.9

5.1

5.3

5.5

5.0

4.9

5.1

5.1

5.6

5.3

5.5

6.1

5.5

6.3

8.0

7-84

4.2

4.4

4.6

4 .6

4.8

4.3

4- . 1

4.2

4.2

4.5

4.1

4.1

4.3

3.5

3.7

3.9

0.6

-3.9

8-84

3.7

3.9

4.0

4.0

4.2

3.6

3.4

3.4

3.3

3.5

3.1

3.0

3.0

2.1

1.9

1.6

-1.2

-4.3

-4 .7

1-83

2-8 3

3-83

4-03

3-8 Ï

6-83

9-83

9-83

10-83

11-93

12-93

1-84

2-94

3-94

4 — 64

5-84

6-8 4

7- 1 ) 4

7-8 3

i 03 1 0 9 2
,
l U 4 ,, 140
*
104,,402
1 0 5 , •¿ 8 8
5.4

1 0 5 , , V48
105,,395
104 ,, 9 6 9

T h lT T il'K T N T H

P A Y R O L L E MP L O Y ME N T
C OMP OUN D E D A N N U A L R A T E S OF
TERMI NAL
MONT H

INITIAL

.2-83

..

THOUSANDS

OF
1-83

_

C HA NG E

MONTH

zl*3

2-83

3-83

4-93

5-9 3

6-63

7-63

8-03

9-83

10-83

11-83

12-83

1-84

2-84

3-84

4-84

5-84

6 —d4

_

88.728

3-83

0.8

3.0

4-83

.. 2*0

3*6

88.945
4*3

89 . ^ 5 9

5-83

2.6

3.9

4.3

4.4

6-83

3*0

^.1

4.5

4.6

4.8

7-83

3,3

4*2

^*5

4.6

4* 8

4.7

8-83

2.1

2.7

2.6

2.2

1.5

-0.1

-4.6

9-83

3.7

4.5

4.7

4.8

4.9

4.9

5.0

15.7

89.578
89.927
90*274
89,918
91.018

3.8

4.5

4.7

4.7

4.8

4.8

4.8

9.9

4.4

3.9

4.5

4.7

4.7

4.8

4.8

4.8

8.1

4.5

4.6

12-83

3.9

4.5

4.6

4.7

4.7

4.7

4.7

7.2

4.5

4.6

4.5

1-84

4.0

4.5

4.7

4.7

4.7

4.7

4.7

6.7

4.6

4,7

4.7

4.9

2-84

4.2

4.6

4.8

4.8

4.9

4.9

4.9

6.6

4.9

5.0

5.1

5.5

6.1

4.1

4.5

4.6

4.7

4.7

4.7

4.7

6.1

4.5

4.6

4.5

4.6

4.4

2.8

4-84

4 *1

4.5

4.7

4.7

4.7

4.7

4.7

5.9

4.6

4.7

4.7

4.7

4.7

4.0

5.2

5-84

4.2

4.5

4.6

4.7

4.7

4.7

4.7

5.8

4.6

4.6

4.6

4.7

4.6

4.1

4.8

4.4

6-84

4.2

4.5

4.6

4.7

4.7

4.7

4.7

5.7

4.6

4.6

4.6

4.6

4.6

4.2

4.7

4 . *
)

4.6

7 —84

4.1

4.4

4.5

4.5

4.6

4.5

4.5

5.4

4.4

4.4

4.4

4.4

4.3

3.9

4.2

3.9

3.7

2.8

8-84

4.0

4.3

4.4

4 .4

4.4

4.4

4.3

5.1

4.2

4.2

4.1

4.1

4.0

3.6

3.8

3.4

3.1

2.4

2.0

I-33

2-83

3-83

4-83

5-83

6-83

7-8 3

8— 8 3

9— 83

10-83

11-83

12-83

1-84

2-94

3-84

4 —' 84

5-84

6-84

7-84

1

>

CD

10-8 3
11-83

_

PtRSONS

/— 8 4

91.345

INITIAL
P-

91,688
92*026
92*391
92.8^6
93,058
93.4V?
93,786
9 4 , 1 35

94,351P
94.510P

MONTH

PRELIMINARY




PREPARED BY FED ER AL R ES tR V E
SEPTEM BER 7 , 1 984

2

BANK OP S T .

L O U IS

EMPLOYMENT
RATIO

SCALE

MILLIONS

1976

OF

RATIO
PERSONS

1977

MILLIONS

S E A S O N A L L Y ADJ US TED

1978

1979

1980

1981

1982
SOURCE:

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S
LA TEST DATA PLOTTED:

1983

SCALE

OF

PERSONS

1984

U .S.D EP AR TM EN T OF LABOR

IN D IC A T E D .

AUGUST P R E L IM IN A R Y
PREPARED BY FEDERAL RE SE R V E BANK OF ST .

L O U IS

UNEMPLOYMENT RATE
SEASONALLY

PERCENT

ADJUSTED

PERCENT

12.0

11.

11. 0

10.

10.0




9.

9.0

8.

8.0

7.

7.0

6.

6.0

5.

5.0

4.

4.0
1976

1977

1 978

1979

1980

1981

1982
SOURCE:

PERCENT OF C I V I L I A N
LA TEST DATA PLOTTED:

U .S .

1983

1984

DEPARTMENT OF LABOR

LABOR FORCE
AUGUST
PREPARED BY FEDERAL RESERVE BANK OF ST.

3

L O U IS

CONSUMER P R IC E

INDEX FOR A LL URBAN CONSUMERS, SEASO NALLY
COMPOUNDED ANNUAL R A TE S OF CHANGE

TERMINAL

IN ITIA L

MONTH

19 6 7* 10 0

MONT H

______________________________________________________________________

1 -8 3
2-83

4 -83

5 -83

6-83

7-83

8 -8 3

9 -8 3

1 0-83

11-83

12-83

1 -84

2 -84

3 -8 4

4 -8 4

5 -84

6 -0 4

7 -8 4
2 9 3 .5

-0 .8

3 -8 3

3 -83

2 -83

0 .0

0 .8

2 93 .7
2 95 .7

4 —83

2 .8

4 .6

8 .5

5 -83

3 .4

4 .9

6 .9

5 .4

6 —8 3

3 .2

4 .2

5.4

3 .9

2 .5

7-83

3 .4

4 .3

5 .2

4 .1

3 .5

4 .5

8 -03

297 .0
2 97 .6
298.7
2 99.8

3 .6

4 .3

5.1

4 .2

3 .8

4 .5

4 .5

9-83

3 .7

4 .4

5 .0

4 .3

4 .0

4 .5

4 .5

4 .5

1 0-83

3.8

4 .4

5 .0

4 .4

4 .2

4 .6

4 .6

4 .7

4 .9

11-8 3

3 .9

4 .4

4 .9

4 .4

4 .2

4 .6

4 .6

4 .6

4 .7

4 .5

1 2-83

3.8

4 .3

4 .7

4 .2

4 .0

4 .3

4 .2

4 .2

4 .0

3 .6

2 .8

1-84

4.1

4 .6

5 .0

4 .6

4 .5

4 .8

4 .8

4 .9

5 .0

5 .0

5 .3

7.8

2-84

4 .1

4 .6

4 .9

4 .6

4 .5

4 .7

4 .8

4 .8

4 .9

4.8

5 .0

6 .1

4 .4

3-84

4 .0

4 .4

4 .7

4 .4

4 .3

4 .5

4 .5

4 .5

4 .5

4 .4

4 .4

5 .0

3 .6

2 .8

4 .7

5 .1

4 .3

4 .2

5 .6

4 .0

3 .9

4 .3

4 .2

4 .4

4 .2

4 .1

4 .2

4 .1

4 .0

4 .1

302.1
3 0 3 .2
3 03 .9
3 0 5 .8

3 07 .6
3 09 .0

4 .7

4 .6

4 .4

4 .4

4 .4

4.3

4 .3

4 .6

3.0

3 .6

4 .0

2 .4

4 .2

4 .1

4.1

4 .0

3 .9

4 .1

3 .4

3 .2

3 .3

2 .2

2 .0

4 .1

4 .1

4 .0

3 .9

3 .9

4 .0

3 .4

3 .2

3 .4

2 .6

2 .7

4 .2

4.1

4 .2

4 .2

4 .2

4 .2

4.1

4 .1

4 .2

4-83

5-83

6-83

7-83

8 -83

9-83

10-83

1 1-83

«
CO
1

1-84

3 .6

3 .7

3-8 3

2 -8 .3

3 0 6 .9

4 .6

4.5

4.2

1-83

4 .6

4.4

4 .2

4 .0

8-84

4 .6

4.6

4 .2

7 -0 4

4 .4

4 .4

4 .4

3 .9

0

5 -84
1
CD
*

4.1

4 .5

4.8

4 .5

4-8 4

3 00.9

_

3 .8

3“ $ *

3 0 9 .6

3 .7

3 .3

.

310.1
311.0

3 .5
4 .5

4 -9 4

3 1 2 .4

5 .5

7 - 9 *

.

____________________________________________________________________________________I N I T I A L MGNTH
♦DATA

BE GINNING

1983

INCORPORATES

RENTAL

EQUIVALENCE

MEASURE.

__________________________________________________________________________________________________________________________________________ P R E PA RE D 0 Y F E D E R A L
SEPT f cMBER 2 1 , 1 9 8 4

RSSEgVE

P R O D U C E R P R I C E I N D E X , F I N I S H E D GOODS - S E A S O N A L L Y A D J U S T E D *
_________ _____ _______
C O H P Q UNQ E D A N N U A L R A T E S OF C H A N G E___ ____
_____________________
TERMINAL

INITIAL

MONT H

frAN^

QF

STt

I QUIS-

_____________________________________

_________________

19 6 7

«

100

MONTH
1 -03

2-03

3-83

4-83

5-83

6 —8 3

7 -83

8 -83

9 -0 3

1 0 - 8 3 11-83

1 2 -03

1 -0 4

2-84

3 -0 4

4 -0 4

5 -84

6-84

7-04
2 8 3 .8

2 -8 3

0 .8

3 -83

—0 . 4

-1 .7

4-83

-0 .4

-1 .1

-0 .4

5 -8 3

0 .5

0 .4

1 .5

3 .4

6 -8 3

1 .4

1.5

2 .6

4 .1

4 .7

l.l

1 .2

1 .9

2 .7

2 .3

7 -8 3

283.4
2 83 .3
284 .1
2 85 .2
0 .0

2 8 5 .2
2 86.3

8 -8 3

1 .6

1 .8

2 .5

3 .2

3 .1

2 .3

9 -8 3

1 .6

1.7

2 .3

2 .8

2 .7

2 .0

4 .7
3 .0

1 .3

1 0-83

1 .6

1.7

2 .2

2 .7

2 .6

2 .0

2 .7

1 .7

2 86 .6
2 .1

2 87 .1
2 8 6 .9

11-83

1 .4

1 .5

1 .9

2 .2

2 .0

1 .4

1.8

0 .8

0 .6

-0 .8

1 2-83

1 .5

1.5

1 .9

2 .2

2 .0

1 .5

1 .9

1.2

1 .1

0 .6

2 .1

1 -8 4

1 .9

2 .0

2 .4

2 .7

2 .7

2.4

2 .8

2 .4

2 .6

2 .8

4 .7

7 .3

2 -8 4

2 .1

2 .3

2 .6

2 .9

2 .9

2 .6

3 .0

2 .7

3 .0

3 .3

4 .7

6 .0

4 .7

287 . 4
2 8 9 .1
2 90 .2
2 9 1 .4

3 -84

2 .4

2.5

2 .8

3 .1

3 .1

2 .9

3 .3

3 .1

3 .4

3 .6

4 .6

5 .7

4 .9

5 .1

4 -8 4

2 .2

2 .3

2 .6

2 .9

2 .8

2 .6

2 .9

2 .7

2 .9

3 .0

3 .8

4 .2

3 .2

2 .5

0 .0

5-84

2 .1

2.2

2 .4

2 .7

2 .6

2 .4

2 .7

2 .4

2 .6

2 .6

3 .2

3 .5

2 .5

1 .8

0 .2

0 .4

2 9 1 .4
2 91.5

6 -8 4

1 .9

2.0

2 .3

2 .4

2 .4

2 .2

2 .4

2 .1

2 .2

2 .3

2 .7

2 .8

1 .9

1.2

0 .0

0 .0

—0 . 4

7-84

2 .0

2 .1

2 .3

2 .5

2 .4

2 .3

2 .5

2 .3

2 .3

2 .4

2 .8

2 .9

2 .2

1 .7

0 .8

1 .1

1 .4

3 .3

8 -8 4

1.8

1.9

2 .1

2 .3

2 .2

2 .0

2.2

2 .0

2 .0

2 .0

2 .3

2 .4

1 .7

1.2

»
o

0 .5

0 .6

1 .0

1-83

2 —8 T

3 -C 3

~4^B3

5 -«3

6 -8 3

7 -3 3

8 -8 3

9—83

1 0 -8 3

1 1-83

12-8 3

1 -8 4

¿—8 4

3 -0 4

4 —84

5-84

6 -04

*0 AT A FOR cOUR MONTHS AGO R E V IS E D TO R E F L E C T L A T E




2 91.4
2 92 .2
-1 .2

291 .9

/—04

IN I 11AL HUN 1H
R EP OR TIN G

P R EPA R ED “BY F E D E R A L R ES ER V F BANK D F
SEPTEM BER 1 4 , 1984

4

S T . tU U IS




R A T IO

PRICES

SCALE

1967-100

RA T IO

SEASONALLY AOJUSTED

SCALE

1967-100

CONSUME* PR I CE IMOEX B E 0 IK N IM 6 J A W A R Y 1 * 7 « IS P O « ALL i t i A* C0NS4MEJIS
C F I - i M T A t E C IN N I N C 1013 I M C O t f M A T t A R E N TA L E Q U IV A LE N C E M E A S M E F M HOMEOWCItSH I P C O S T S .
P E R C EN TA6ES AHE ANK8AL R A TES O f CHANCE F M
LA TES T

»A T A

P L O TT E O »

P E R IO * S

IN D IC A T E D .

AW 8ST

P R EP A R E » Ì Y

ratio

PRODUCER

SCALE

1 9 6 7 -1 0 0

SE A SO N A L L Y

PERCEN T A6ES A M
LATEST

»A T A

AMMVAL B A T E S O f

P L O TTE »t

AUGUST

CHANCE F M

F E »E R A L HESEUVE »AMC Of

PRICES
A D JU STED

PER I O f S

S T.

RATIO

SCALE

1 9 6 7 -1 0 0

I NO I C AT E D .

PREPARED BY FEO EitAL R E S tR V E BANK OF S T .

5

L O » IS

L 0 3 IS

PRODUCER P R IC E I N O E X , F I N I S H E D CONSUMER FOODS - SEAS ONA LLY AD JU S T ED *
______________________COMPOUNDED ANNUAL R AT ES OF CHANGE_____________________________
TERMINAL
MONTH

________________________________________________________________ I N I T I A L
1 -83

2 -8 3

2 -8 3

3-83

4-83

5-83

6 -83

7 -8 3

8 -83

9-83

MONTH_________________

1 0-83

11-63

12-83

1 -8 4

________________________________________ 1967 «
2 -8 4

3 -8 4

4 -84

5 -8 4

6 -6 4

100

7 -8 4
261 .1

10.2

261 .1

3 -8 3

5^ 0

0 .0

4 -83

6 .5

4 .7

9 .6

5 -6 3

3 .5

1.4

2 .1

2 63 .1
-4 .9

2 6 2 .0

6 -6 3

1 .4

-0 .7

-0 .9

-5 .8

-6 .7

7 -0 3

0 .2

-1 .6

-2 .1

-5 .7

-6 .0

-5 .4

8 -83

0 .8

-0 .7

-0 .8

-3 .3

-2 .7

-0 .7

4 .2

2 60 .5
259 . 3
2 60 .2

9 -83

1 .8

0 .7

0*8

-0 .9

0 .1

2 .5

6 .7

9 .1

10-8 3

3 .0

2.1

2 .4

1 .3

2 .6

5 .0

8 .8

11.1

1 3.1

1 1-83

2 .3

1.4

1 .6

0 .5

1.5

3 .2

5 .4

5 .8

4 .2

-4 .0

1 2-83

2 .9

2 .2

2 .4

1.5

2 .5

4 .1

6 .1

6 .6

5 .8

2.3

9 .0

2 6 2 .1
2 64 .8
263 .9
2 6 5 .8

1 -8 4

5 .3

4 .9

5 .4

4 .9

6 .2

8 .2

10.7

1 2.0

12.8

12.6

2 2 .0

3 6 .6

2 -8 4

5 .5

5.1

5 .6

5 .2

6 .4

8 .2

1 0.3

1 1.3

1 1 .7

1 1.4

1 7.1

2 1 .3

7 .7

3 -8 4

5 .7

5 .4

5 .9

5 .5

6 .6

8 .2

1 0.1

1 0 .9

1 1.2

1 0.8

1 4 .9

1 6.9

8 .2

4 -8 4

4 .7

4 .4

4 .7

4 .3

5 .2

6 .4

7 .8

8 .3

8 .2

7 .4

9 .8

1 0 .0

2 .4

-0 .2

-8 .3

5 -8 4

3 .7

3.3

3 .5

3 .1

3 .8

4 .8

5 .9

6 .0

5 .7

4 .6

6 .2

5 .6

-1 .0

-3 .7

-9 .4

-1 0 .4

6 -84

3 .1

2 .6

2 .8

2 .3

2 .9

3 .8

4 .6

4 .7

4 .2

3 .1

4 .2

3 .4

-2 .2

-4 .5

-8 .5

—6 . 6

272 .8
2 74.5
8 .6

2 76 .4
2 74.4
2 71 .9
-6 .8

2 7 0 .3

7 -8 4

3 .8

3 .5

3 .7

3 .3

3 .9

4 .8

5 .7

5 .8

5 .5

4 .7

5 .9

5 .4

1 .0

-0 .3

-2 .5

-0 .4

5.0

1 8.2

8 -8 4

3 .5

3 .2

3 .4

3 .0

3 .6

4 .3

5.1

5 .2

4 .8

4 .0

5 .0

4 .5

0 .6

-0 .6

-2 .3

-0 .8

2 .7

7 .8

-1 .7

1 -83

2 -8 3

3 -83

4 -8 3

5-83

6-83

7 -8 3

8 -8 3

9 -8 3

10-83

1 1-83

1 2-8 3

1 -84

2 -8 4

3 -84

4 -8 4

5 -8 4

6 -84

7 -8 4

♦DATA FOR FOUR MONTHS AGO R E V IS E D TO R E F L E C T

LA T E

274 .1
2 73 .7

REPO RTI NG

PRODUCER PR IC E I N D E X , Ff N T S H E D GOOOS, EXC LU D IN G FOOOS - SE ASONALLY A D J US T ED *
__________________________ COMPOUNDED ANNUAL RATE S OF CHANGE_________
___________________

-1 .9
-2 .3

-2 .7

-0 .3

0.1

1.3

6 .0

6 -6 3

1 .4

2 .2

3 .7

7 .3

6-84

100

7-84

-3 .3

5 -8 3

5-84

-2 .1

4 -83

4 -84

-1 .6

3 -8 3

*
1

2 -8 3

1967 «
2-84

CD

TERMINAL________________________________________________________________________ I N I T I A L MONTH_____________
HONTrt
1-83
2 -83
3 -83
4 -8 3
6 -8 3
9 -8 3 10-83 11-83 12-83
5 -83
7 -83
8 -83
1 -8 4

289.2
288 .7
2 87.9
2 8 9 .3
8 .6

2 9 1 .3

7 -6 3

1 .5

2 .2

3 .3

5 .5

5 .3

2 .1

8 -8 3

1 .9

2 .5

3 .4

5 .2

4 .9

3 .1

4 .2

2 .7

4 .0

3 .5

1 .8

1 .7

-0 .8

2 9 1 .8
292 .8

9 -6 3

1 .6

2 .0

10-63

1 .2

1.6

2 .1

3 .1

2 .5

1 .0

0 .7

-1 .0

-1 .2

1 1 -6 3

1 .2

1.5

2 .0

2 .8

2 .2

1 .0

0 .7

-0 .4

-0 .2

0 .8

1 2-83

1 .1

1.3

1.7

2 .4

1 .8

0 .6

0 .5

-0 .4

-0 .3

0 .2

-0 .4

1 -8 4

0 .9

1 .2

1.5

2 .0

1 .6

0 .6

0 .3

-0 .4

-0 .3

0 .0

-0 .4

-0 .4

2 -6 4

1 .1

1.3

1 .7

2 .2

1 .8

0 .9

0 .8

0 .2

0 .4

0 .6

0 .6

1 .4

3 .3

2 9 2 .6
2 92 .3
2 9 2 .5
2 9 2 .4
2 92 .3
2 93 .1

3 —64

1 .3

1.5

1.8

2 .3

2 .0

1 .2

1 .1

0 .7

1 .0

1 .4

1 .5

2 .2

3 .5

3 .7

4 -6 4

1 .4

1 .7

1 .9

2 .4

2 .1

1 .4

1 .4

1 .0

1 .3

1 .7

1 .9

2 .5

3 .5

3 .5

3 .3

5 -6 4

1 .6

1.6

2 .1

2 .5

2 .2

1 .6

1 .6

1 .3

1 .6

2 .0

2 .2

2 .7

3 .5

3 .6

3 .5

3 .7

6 -6 4

1 .6

1 .6

2 .1

2 .5

2 .2

l.T

1 .6

1 .4

1 .6

2 .0

2 .2

2 .6

3 .2

3 .2

3 .0

2 .9

2 .0

7 -6 4

1 .4

1.6

1 .9

2 .2

2 .0

1 .5

1 .4

1.2

1 .4

1 .6

1 .7

2 .1

2 .5

2 .3

2 .0

1 .5

0 .4

-1 .2

8 -6 4

1 .3

1.5

1 .7

2 .0

1 .6

1 .3

1 .2

1 .0

1 .2

1 .4

1 .5

1 .7

2 .0

1 .6

1 .4

0 .9

0 .0

—1 .0

-0 .8

1-63

2 -6 3

3 -93

4 -63

5 -6 3

6 -63

7 -63

8 -8 3

9 -6 3

10— 83 1 1 - 6 3

1 2-6 3

1 -8 4

2 -8 4

3 -6 4

4 -6 4

5 -6 4

6 -8 4

7 -6 4

♦DATA FOR FOUR MONTHS AGO R E V IS E D TO R E F L E C T L A T E




294 .0
2 94 .8
2 9 5 .7
2 9 6 .2
2 95.9
2 9 5 .7

1 N I I 1 A L flUNIH
R EP OR TIN G

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEM BER

6

14,

1964

I NDUS T RI AL
RATIO

PRODUCTION

SCALE

RATIO

1967-100

1976

1967-100

SEASONALLY ADJUSTED

1977

1978

197 9

1980

SCALE

1981

1982

1983

1984

PERCENTAGES ARE ANNUAL RATES Of CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTEDt AUGUST PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

I N D U S T R I A L PRO DUC TION
COMPOUNDED ANNUAL RAT ES OF CHANGE
TE R M IN AL
MONTH

IN ITIA L
1 -83

2 -6 3

3-63

4 -63

5 -6 3

6 -8 3

7 -6 3

6 -8 3

9 -6 3

10-6 3

MONTH
11—63

1967 «
1 2-6 3

1 -84

2 -6 4

3 -84

4 -64

5 -8 4

6 -6 4

100

7 -84

2-6 3

6 .3

3 -63

1 1.9

17.8

4 -6 3

16.0

21.2

2 4 .7

5 -6 3

16*1

19.5

2 0 .4

6 -6 3

1 6.4

1 9.1

19.6

1 7.1

1 7.9

7 -6 3

1 8.7

2 1 .4

2 2.3

2 1 .5

24.1

3 0 .7

8 -6 3

1 8 .6

2 0 .8

2 1 .4

20 .6

2 2 .1

2 4.3

1 8.2

9 -6 3

16.4

2 0.3

2 0.7

19.9

20.8

2 1 .8

17.6

1 7.0

1 0 -6 3

1 7 .4

18.9

19.1

1 8.1

1 8.5

18.7

1 4.9

1 3.3

9 .8

11-6 3

1 5.8

1 6.9

16.8

1 5.7

15.7

15.2

11.6

9 .5

6 .0

2 .3

1 2-6 3

1 5 .0

15.9

15.7

14.6

1 4.4

13.8

1 0 .7

9 .0

6 .4

4 .7

7 .2

1 -6 4

1 5 .4

16.2

16.1

1 5.1

1 5.0

1 4 .6

1 2.1

1 0.9

9 .5

9 .3

1 3 .0

1 9 .2

2 -6 4

15.1

15.9

1 5.7

1 4.8

1 4.7

1 4.3

12.1

1 1.1

9 .9

1 0.0

12.7

15.5

1 2 .0

3 -6 4

1 4 .4

15.1

14.9

14.0

13.8

1 3.3

1 1.3

10.4

9 .3

9 .2

11.0

1 2 .3

9 .0

6 .2

4 -6 4

1 4.1

1 4.7

14.5

1 3.7

1 3.4

1 3.0

1 1.2

10.3

9 .4

9 .4

10.8

1 1 .6

9 .4

6 .1

10.1

5 -64

1 3 .6

1 4 .1

13.8

1 3.0

12.7

1 2.3

1 0.6

9.8

8 .9

8 .6

9 .9

1 0 .4

8 .4

7 .2

7 .7

5 .3

6 -6 4

1 3.5

1 3.9

1 3.7

12.9

12.7

12.2

1 0.7

10.0

9 .2

9 .1

1 0.1

1 0 .6

9 .0

8 .3

9 .0

8 .4

1 1.6

7 -6 4

1 3.3

1 3.8

13.5

1 2.8

12.6

1 2.2

10.8

10.1

9 .4

9 .4

1 0 .3

1 0.8

9 .4

8 .9

9 .6

9 .4

1 1 .6

11.5

8 -6 4

12.8

1 3.1

1 2.9

1 2.2

1 1.9

11.5

10.1

9 .5

6 .8

8 .7

9 .5

9 .8

8 .5

7 .9

8.3

7 .8

8 .6

7 .1

2 .9

1-83

2-63

3-83

4 -8 3

5-63

6 -6 3

7 -83

6 -8 3

9 -6 3

1 0 -6 3

11-6 3

12-8 3

1 -84

2-64

3-6 4

4-84

5 -6 4

6 -64

7-64

138.1
140 .0
1 42.6
1 6.2

1 44.4
1 46.4
1 49.7
151.8
153.8
155 .0
155.3
1 56.2
158.5
160.0
160.8
162.1
162.8
164.3
1 6 5 . 8P
1 6 6 . 2P

1 N 1 I 1 A L P U N IH
P - P R E L IM IN A R Y




PREPARED BY FED ER A L RESERVE BAfW TOF S T .
SEPTEM BER 1 4 , 1964

7

L O U IS

PERSONAL
RATIO

SCALE

TRILLIONS

INCOME

MONTHLY TOTALS AT ANNUAL

OF

DOLLARS

S E A S ONA L L Y

RATIO

RA T ES

TRILLIONS

ADJ US TED

OF

SCALE

DOLLARS

3.2
3 .1
3.0
2.9
2.8
2.7

2 .2

2

.1

2.0
.9

.8

.7
.6

.5
.4
.3
. 2

1976

1977

1978

1979

1980

1981

1982

SOURCE:
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S
LA TEST DATA PLOTTED:

U .S .

1983

1984

DEPARTMENT OF COMMERCE

IN D IC A T E D .

AUGUST P R E L IM IN A R Y
PREPARED 8Y FEDERAL RESERVE BANK OF ST .

PERSONAL

T F R MT N A I
MONT H

INITIAL
1- A 3

2-ft3

2-A3

3 —« 3

4-H3

S— R 3

ti— R 3

7-8 3

ft- ft 3

9— ft 3

1n - 8 3

LO U IS

INCOME
B I L L I O N S OF
n m 1 Aß <
v
ANNUAL. R A T E S

NT) N T H
1 1— ft 3

1 ?- f l 3

1-fiA

7 -R L .

3— H4

A-H L.

S- ft i L

-1 .3

?,

3-83

2*8

7.0

4-ft3

•5.1

ft - 5

1o . n

5-83

6.5

9.2

10.3

10.5

? ,, 67 1 -ft
7t
? ,,71 5 . ft

O
Q
1
<

6.9

9.0

9.7

9.5

8.5

7-8 3

6.5

8.1

8.4

7.9

6.6

4.7

8-83

6.5

7.9

8.1

7.6

6.7

5.7

? ,, 7 3 ^ . à
? .. 7 4 4 . 9
6.8

2.,75 9.9

9-83

7.1

8.4

8.7

8.4

7.8

7.6

9.1

11.5

10-83

7.9

9.1

9.4

9.2

9.0

9.1

10.6

12.6

13.7

11-83

7*9

9.0

9.3

9.1

8.9

9.0

10.1

11.2

11.1

8.5

12-03

8.3

9.3

9*5

9.5

9.3

9.4

10.4

11.3

11.3

10.1

1-84

8.9

9.9

10.2

10.2

10.2

10.4

11 . 4

12.4

12.6

12.2

14.1

16.7

2-84

9.1

10.0

10.3

10.3

10.3

10.6

11.4

12.2

12.4

12.0

13.2.

14.0

11*4

3-84

9.0

9.8

10.1

10.1

10.0

10.2

10.9

11.5

11.5

11.1

11.7

11.7

9.3

7.2

4-84

9.2

10.0

10.2

10.2

10.2

10.4

11.0

11.5

11.6

11.2

11.8

11.8

10.2

9.6

5-84

8.9

9.6

9.8

9.8

9.7

9.8

10.3

10.7

10.6

10*2

10.5

10.2

0.7

6-84

9.0

9.7

9.9

9.9

9.8

10.0

10.4

10.8

10.7

10.4

10.6

10.5

9.3

7-84

9.0

9.6

9.8

9.8

9.7

9.8

10.3

10.6

10.5

10.2

10.4

10.2

8-84

8.9

9.5

9.6

9

9.5

9 *6

10.0

10*3

10.L

9*0

9.9

1-83

2-83

3-83

5-83

6-83

7-83

8-83

9-83

10-83

11-83

11.7

a
n]
£
a
a

INITIAL

2.834.2
<
N

4-83

2.785.Ü
2.,8 1 ^ .9

?. 897.4
? . 923.5
2. 94G .6
12.0

? . 96H-5

8.1

4.2

0.8

9.3

7.9

11.7

9.1

0.7

9. Q

8.1

1Q.Û

9.7

8.8

0.3

8.5

7 *7

8.9

.. 7 . 5

6.6

12-83

1-84

2-64

3-84

4-84

5-84

6-84

7-04

978.8
3 f 006.5
3 t n?< S- 7

HONTH

P - P R EL IM IN A R Y




PREPARED BY FED ER AL RESERVE
SEPTEM BER 19* 1984

8

BANK OF S T .

L O U IS

RETAIL
RATIO

SALES

SCALE

BILLIONS

OF

197 6

RATIO
DOLLARS

1977

seasonally

197 8

197 9

BILLIONS

ADJ US TED

198 0

1981

1982

SOURCE:
PERCENTAGES ARE ANNUAL RAT ES OF CHANGE FOR P E R IO D S
LA TEST DATA PLO TTE0:

JU LY,

U .S .

1983

OF

SCALE

DOLLARS

1984

DEPARTMENT OF COMMERCE

IN D IC A T E D .

AUGUST ADVAMCE E ST IM A T E
PREPARED BY FEDERAL R E SERVE BAMK OF ST .

L O U IS

R E T A I L SALES
COMPOUNDED ANNUAL RAT ES OF CHANGE
IN ITIA L

T ERM IN AL
Ho n T h
1-83
2 -6 3

2 -8 3

3 -63

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -8 3

10-8 3

M I L L I O N S OF
DOLLARS

MONTH
1 1-83

1 2-8 3

1 -84

2 -8 4

3—8 4

4 -8 4

5 -84

6— 84

7-84
92 *2 11

-4 .0

93,8 04

3 -83

8 .6

2 2 .8

4 -8 3

1 1 .7

2 0.5

1 8.3

5 -8 3

16.1

2 3 .7

2 4 .1

3 0 .2

6 -8 3

1 6.6

2 2 .4

22 .3

2 4.3

1 8.7

7 -8 3

14.1

18.1

17.0

1 6.5

1 0.2

2 .4

8 -8 3

1 0.9

13.6

1 1.8

1 0.3

4 .3

-2 .2

-6 .5

95,1 25
97,2 39
9 8,638
9 8 ,8 32
98,2 77
9 9,5 37

9—8 3

1 1 .6

1 4 .0

1 2.6

11.5

7 .3

3 .7

4 .4

1 6.5

1 0-8 3

1 2.3

1 4 .5

13.4

12.6

9 .3

7 .1

8 .7

1 7.3

1 8.1

1 1-8 3

1 2 .3

1 4.2

13.2

1 2 .5

9 .8

8 .1

9 .6

1 5.6

15.1

12-8 3

1 1 .7

13.5

1 2.5

1 1 .8

9 .3

7 .9

9 .0

1 3.2

1 2.2

9 .4

6 .6

1 -8 4

15.2

17.1

1 6.6

1 6 .4

1 4.8

14.2

1 6 .3

2 1 .5

2 2 .8

2 4 .5

3 1.1

6 1.3

2 -8 4

1 2.9

14.4

13.7

13.2

1 1.5

1 0 .6

1 1 .8

1 5.2

1 4 .9

14.2

1 4 .8

1 9 .2

-1 1 .9

100,923
101,896

1 2.2

102,438
106,602
105,482

3 -8 4

1 0 .4

11.6

1 0.7

10.1

8 .2

7 .1

7 .7

1 0.0

8 .9

7 .2

5 .9

5 .7

-1 4 .4

-1 6 .8

4 -8 4

12.8

1 4.1

1 3.4

1 3.0

1 1.6

1 0.9

1 1 .9

1 4 .4

1 4.1

1 3 .5

1 3 .7

1 5 .6

3 .4

12.1

5 1.0

5 -8 4

1 2 .5

1 3 .7

1 3 .1

1 2 .7

1 1.3

1 0 .7

11.5

1 3.7

1 3 .4

1 2.7

1 2.8

1 4.1

4 .7

1 0.9

2 8 .0

8 .5

6 —8 4

12.5

1 3 .6

1 3 .0

1 2.7

1 1 .4

1 0 .8

1 1 .6

13.6

13.3

1 2 .7

12.8

13.9

6 .2

1 1.3

2 2.7

10.6

7 -8 4

1 0 .3

1 1.2

1 0.5

1 0 .0

8 .7

7 .9

8 .4

9 .9

9 .2

8 .3

7 .8

8 .0

1 .0

3 .8

9 .7

-1 .3

-5 .9

-2 1 .5

8 -8 4

9 .1

9 .9

9 .2

8 .6

7 .3

6 .6

6 .9

8 .1

7 .4

6 .3

5 .7

5 .6

-0 .6

1 .4

5 .5

-3 .5

-7 .2

-1 5 .8

-9 .7

1 -83

2 -83

3 -8 3

4 -8 3

5—€ 3

6 -8 3

7 -8 3

8 -8 3

v —83

1 0-8 3

1 1 -8 3

12—8 3

1 -8 4

2 -8 4

3 -8 4

4 -8 4

5 -84

6 -8 4

7 -8 4

103,873
107,505
108 ,23 7
1 2 .7

109,322
1 0 7 , 142P
106,2326

1 N I I 1 A L NU NI H
P - P R E L IM IN A R Y
E - ESTIMATED




PREPARED BY FED ER A L RÉSERVE BANK OF S T . L O U IS
SEPTEM BER 1 4 , 1984

9

HOURLY C O M PE N S AI IO N , B U S IN ES S SECTOR
COMPOUNDED ANNUAL R A T E S OF CHANGE______
INITIAL
3 -79
4 -7 9

10.6

2- a o

1-flO

4 —60

3 -ao

1 -81

2-81

3—61

4 —81

1 97 7* 10 0

QUARTER
1-82

3 -82

?-ft?

1-63

4 -82

2 -83

3 -8 3

9 .0

1 -flf)

4-7<»

Ï

TERMINAI
QUARTER

1 22.6
126.2

1? - 3

C
O
C
1
<\

1 1 .0

1 2.1

1 1.9

3 -8 0

10.6

11.1

1 0.6

9 .2

4 -8 0

1 0 .3

1 0.7

1 0.2

9 .3

9 .4

1 2 9 .a
1 32.7
1 35.7

1-81

10.4

1 0 .7

10.3

9 .8

1 0.0

1 0 .7

2 -8 1

10.0

1 0 .1

9 .7

9 .2

9 .1

9 .0

7 ,4

3 -6 1

1 0 .0 _

1 0 1-L

9 .6

9 .3

9 .3

9 .3

0 .7

139.2
141.7
9 .9

145.1

4 -8 1

9 .6

9 .7

9 .4

0 .9

a .9

8 .8

0 .1

0 .5

7 .1

1 -0 2

9 .7

9 ,9

-9 * A

9tZ

9.t2

9 ,2

9 .0

9 .2

9 .9

10*7

2 -8 2

9,5

9 ,5

9,_2_

0 ,9

8 .8

0 .0

0*_4_

0 .6

0 ,2

6 .7

6 .6

153.9

3 -6 2

9 .3

9 .3

9 .0

8 .7

6 .7

8 .6

0 .2

0 .4

8 .0

6 .3

7 .1

7 .5

4 -6 2

8 .9

8 .9

8 .6

0 .3

8 .2

0 .0

7 ,7

7 ,7

7 .3

7*3

6 .2

5*9

4*4

1-63

8.6

6 .6

6 .3

0 ,0

7 .0

7 .7

7 .3

7 .3

6 .6

6 .0

5*6

5*5

4*5

4 .6

2 -6 3

8.2

8 .1

7 .8

7 .4

7 .3

7 .1

6 .7

6 .6

6 .1

6 .0

5 .0

4 .6

3 .7

3 .3

2 ,0

u>
1
0
0
W

_

1 47.6
1 51 ,4

7 .6

7 .7

7 .4

7 .0

6 .8

6 .6

6 .2

6 .1

5 .6

5 .4

4 *5

4 .1

3 .3

2.9

2 .0

2 .0

4 -6 3

7 .7

7 .6

7 .3

6 .9

6 .8

6 .6

6 .2

6 .1

5 .6

5 .5

4 .7

4*4

3*8

3 .7

3 .3

4 .0

6 .1

1-6 4

7 .6

7 .5

_ 7 .2

6 .9

6 .7

6 .5

6 .2

6 ,1

5 .7

5 ,6

4 .9

4 ,7

4*2

4*2

4 ,1

4*7

6 ,1

6 .2

Z t 84

7,3

7 .2

6 ,9

6 .6

6 ,4

6 .2

5 .9

5*J

5*4

5*2

4 .6

4 .3

3*9

3 .8

3*6

4 .0

4 .7

4 .1

1 ,9

3-79

4 -7 9

1-80

2 -80

3 -8 0

4 -8 0

1 -81

2 -81

3-81

4-61

1-82

2-62

3 -62

4 -8 2

1 -83

2 -83

3 -8 3

4 -8 3

1 -84

IN ITIA L
REVISED

F ROM

156 .7
158*4
160.2
1 61.0
161.8
1 64.2
1 66.7
1 67.5

QUARTER

1979

OU TP UT

PER HOUR OF A L L PERSONS»

B U S IN E S S SECTOR

________ COMPOUNDED ANNUAL. RAI £ S -Of. CHANkE________

I N I T I A L QUARTER

T ER MINA L .
QUARTER

1977-1QQ

.a- ? ?__i-a o ._2r9Q .._3t 8Q -fr- 80 . l~ fll__2=fil__ 3-91. 4~91__ ___________ 3.-92. < Z .¿S I..
.
t~Q __

V-Q3_J,-g4.

4 - 79____

-9 - 8 * 8 -

I -8 0

____ L,.2_

99 , 1

ZrQQ ___ =£*£_ z£ , g__
_

96.4

3 - 9 0 ____ - Q i 2 ____ Q ^ Q ___- 0 * 6

1*6

____ 0 ^ 2 ___- 0 . 1

1*2

lrfll

_L*Q____ Lt it ____ ________ 2 , 9

J 9 8 . 8 ...
0_*8_
3 .?

. 99 , 0
.

<tZ
?

100*5

0 , 9 ____ 1^2____ i . 2 ____ 2* 2____ 2_*4____ 3*3_
3.T0 1

_ L t 5 _____1 , 6 ____ 1 , 6

2 *5

¿ , 7 ____ 3*4

100,6
2*0

3 ,6

1 -82

0.8

0 .9

0 .9

1 .4

1.4

1.5

0*4

0* 4

-1 * 2

2 .4

2 -82

0.5

0 ,6

0*5

1*0

0*9

_ 0*9

-0 *2

-0 * 3

-1 * 6

0*0

1 00 .9
-2*4

100.3

3 -8 2

0 .6

0 .8

0 .7

1 .1

1.1

1 .1

0 .3

0 .2

-0 .6

0 .8

0 .0

2*4

4 -8 2

0.0

0 ,9

0*9

1 .3

1*2

1*3

0*6

0 .7

0*1

1 .3

0 .9

2*6

2 .8

1~03

0.9

1 ,0

1*0

1 .4

1*4

1 .4

0 *8

0 .9

0 .5

1 .5

1 .3

2*5

2*6

2 .4

100.9
1 01 .6
102.2

2 -63

1.2

1 .4

1 .4

1 .7

1 ,7

1.0

1*4

1 .5

1 +2

2 .2

2 .1

3 .3

3*6

4 .0

5 .6

3_^fi3

U2_

1 .5

1 .5

1*8

1*0

1*9

1* 5

1*6

1♦

2 .3

2*2

3*2

3 .4

3 .6

4 .2

2 .7

4r83

1 .3

1 .5

1 .5

1 ,0

1*0

1*9

1*5

1*6

2 .2

2*1

2*9

3 .0

3 .1

3 .3

2 .1

1 .5

2*4

2*4

3*0

3*1

3 .2

3*4

2 .7

2 .7

3 .9

2 .5

2 .6

3 .2

3 .3

3 .4

3 .6

3 .1

3 .2

4 .1

4 .2

1-82

2-82

3-62

4 -82

1 -63

2 -83

3 -8 3

4 -6 3

1 -8 4

Ir fl 4.

__1*?

1 .6

2 -8 4

. 1*6

lt7

3-79

4 -7 9

1 .6

1-60

1 ,9

1 ,9

2 .0

1,7

1*0

2* 1

2*1

2*2

1 .9

2 .0

2 -80

3 -60

4— 80

1-81

2-81

1 +6

3 -61

4-81

IN IT IA L

103.6
1 04.3
104 .7
1 0 5 .7
106.8

QUARTER

R E V I S E D FROM 1 97 9




10

PREPAREO BY F ED ERA L RESERVE BANK OF S T .
AUGUST 2 7 » 1964

LOUIS

P R OD UC T I V I T Y ,

COMPENSATI ON,

RATI O SCALE
I977-IOO

1976

AND LABOR COSTS
RATIO

SEASONALLY

1977

1978

1979

ADJUSTED

1980

1981

1982
SOURCEt

P E R C E N T A G E S ARE AHtflJAL. R A T E S OF CHANCE FOR P E R IO O S
LA T E S T

DATA P LOTTED :

REV ISEJ) FROM

U .S.

1983

SCALE
1977-100

1984

DEPARTM ENT

Of

LABOR

BANK OF S T .

L O U IS

IM O IC A T E O .

2N0 OUARTER

1979.

PREPAflED BY FED ER A L

RESERVE

U N I T LABOR C O S T S , BU S IN ES S SECTOR
COMPOUNDED ANNUAL RA TE S OF CHANGE
TE RMI NA L
QUARTER

I N I T I A L i UARTER
Q
3 -79

4 -7 9

1-80

2 -8 0

3 -80

4 -8 0

1 -81

2-81

3 -81

4 -81

1 -8 2

1977-1 00
2-82

3-82

4 -82

1 -83

2 -8 3

3 -83

4 -8 3

1 -8 4

4 -7 9

9 .6

1 -8 0

10.3

1 1.1

2 -80

1 1.8

1 3 .0

14.9

3 -8 0

10.9

11.3-

1 1.3

8 .1

4 -8 0

10.4

1 0.6

10.4

8 .2

8 .3

1-81

9 .3

9 .3

8 .8

6 .8

6 .2

4.1

2 -8 1

9 .0

8 .9

8 .5

6 .9

6 .5

5 .6

7 .1

3 -8 1

8 .6

8 .4

8 .0

6 .7

6 .3

5 .7

6 .5

5 .8

1 42 .9

4 -8 1

9 .0

8 .9

8 .6

7 .6

7 .5

7 .3

8 .4

9 .0

1 2.3

1 47.1

1 -8 2

8 .9

8 .8

8 .6

7 .7

7 .6

7 .5

8 .3

8 .7

10.2

8 .1

2 -8 2

8 .9

8 .9

8 .6

7 .9

7 .8

7 .8

8 .5

8 .9

9 .9

8 .7

9 .4

3 -8 2

8 .6

8 .5

8 .3

7 .6

7 .5

7 .4

7 .9

8 .1

8 .7

7 .5

7 .2

4 -8 2

8 .1

7 .9

7 .6

6 .9

6 .8

6 .6

7 .0

7 .0

7 .2

6 .0

5 .3

3 .3

1.6

1 -8 3

7 .6

7 .5

7 .2

6 .5

6 .4

6 .1

6 .4

6 .3

6 .4

5.2

4 .5

3 .0

1 .9

2 .3

2 -8 3

6 .9

6 .7

6 .3

5 .6

5 .4

5 .1

5 .3

5 .0

4 .9

3 .7

2 .9

1 .3

0 .1

-0 .6

-3 .5

3 -8 3

6 .4

6 .1

5 .8

5 .1

4 .9

4 .6

4 .6

4 .4

4 .2

3.1

2 .3

0 .9

-0 .1

-0 .7

-2 .2

-0 .8

4 -8 3

6 .2

6 .0

5 .7

5 .1

4 .9

4 .6

4 .6

4 .4

4 .2

3 .2

2 .6

1 .5

0.8

0 .6

0 .0

1 .8

4 .5

1 -84

6 .0

5 .8

5 .5

4 .9

4 .7

4 .4

4 .4

4 .2

4 .0

3 .1

2 .5

1 .6

1.0

0 .9

0 .6

2 .0

3 .4

2 .3

2 -8 4

5 .6

5 .4

5 .0

4 .5

4 .2

3 .9

3 .9

3 .7

3 .5

2 .6

2 .0

1.1

0 .6

0 .4

0 .1

1 .0

1 .6

0 .1

-2 .0

3-79

4 -7 9

1 -80

2 -8 0

3 —80

4 -8 0

1 -Ö 1

2 -81

“ 5-81

4 -51

2 -8 ?

3-82

4-ÎT 2

ï-é 3

2 -8 *

3 -83

4 -8 3

1 -8 4

1 24.0
1 2 7 .3
131.8
1 3 4 .4
1 37.1
138 .5
140 .9

1 50 .0
153 .4
5 .0

1 55 .3
1 55 .9
1 56.8
1 5 5 .4
1 5 5 ;i
156.8
1 57 .7
1 56 .9

I N I T I A L OUARTER
R E V I S E D FROH 197 9




11

PREPARED BY F E D E R A IT RESERVE BANK OF S T .
AUGUST 2 7 , 1984

LOUIS

GROSS NA TIO NA L PRODUCT I N CURRE NT DOLLARS
COMPOUNOED ANNUAL RA TE S OF CHANGE_______
IN ITIA L

TE R MI N AL
QUARTER
3 -7 9

4 -7 9

1-80

4 -7 9

9 .9
6 .8

6 .2

7 .5

7 .3

5 .2

1-81

2 -81

3 -81

4-81

1 -82

2 -82

3 -8 2

4 -8 2

1 -83

2-83

3-83

4 -83

1-84

0 .9

3 -8 0

4 -80

11.7

2 -80

3 -8 0

8 .1

1 -8 0

2 -8 0

B I L L I O N S OF
DOLLARS
ANNUAL R AT ES

QUARTER

2 ,5 0 2 .9
2 ,5 7 2 .9
2 ,5 7 8 .8
9 .7

2 ,6 3 9 .1

4 -8 0

9 .1

9 .3

8 .5

1 2.6

15.5

1-81

11.1

1 1.8

11.8

15.6

18.7

22.1

2 -81

1 0 .4

10.8

1 0.6

1 3.2

1 4.3

1 3.7

6 .0

3 -8 1

1 0.7

1 1.1

1 1.0

13.1

1 4.0

1 3.5

9 .5

13.1

4 -8 1

9 .8

1 0 .0

9 .8

11.3

11.6

10.7

7 .1

7 .7

2 .5

1 -82

8 .7

8 .8

8 .4

9 .6

9 .5

8 .4

5 .2

5 .0

1.1

-0 .3

2 -82

8 .4

8 .4

8 .0

9 .0

8 .8

7 .8

5.1

4 .9

2 .3

2 .2

4 .7

3 -82

7 .9

7 .8

7 .5

8 .2

8 .0

7 .0

4 .7

4.4

2 .4

2.3

3 .6

4 -8 2

7 .5

7 .5

7 .1

7 .8

7 .6

6 .6

4 .6

4 .3

2 .7

2 .7

3 .7

3 .2

3 .9

1 -8 3

7 .6

7 .6

7 .2

7 .8

7 .7

6 .8

5 .1

4 .9

3 .6

3 .8

4 .9

4 .9

6 .2

8 .5

2 -8 3

7 .9

7 .9

7 .6

8 .2

8 .1

7 .4

5 .8

5 .8

4 .8

5 .2

6 .3

6 .7

8 .2

10.4

1 2.3

2 ,7 3 6 .0
2 ,8 7 5 .8
2 ,9 1 8 .0
3 ,0 0 9 .3
3 ,0 2 7 .9
3 ,0 2 6 .0
3 ,0 6 1 .2
3 ,0 8 0 .1

2 .5

3 ,1 0 9 .6
3 ,1 7 3 .8
3 ,2 6 7 .0

3-83

8 .1

8.1

7 .8

8 .3

8 .2

7 .6

6 .3

6 .3

5 .5

5 .9

6 .9

7 .4

8 .7

10.3

1 1.2

1 0 .1

4 -8 3

8 .2

8 .2

8 .0

8 .5

8 .4

7 .8

6 .6

6 .7

6 .0

6 .5

7 .5

7 .9

9 .0

1 0.4

11.0

10.3

10.6

3 ,3 4 6 .6

1 -8 4

8 .6

8 .6

8 .4

8 .9

8 .9

8 .4

7 .3

7 .4

6 .9

7 .4

8 .4

8 .9

1 0 .0

11.3

12.0

11.9

1 2 .7

1 4.9

2 -8 4

8 .7

8 .7

8 .5

9 .0

9 .0

8 .5

7 .6

7 .7

7 .2

7 .7

8 .6

9 .1

1 0.1

1 1.2

1 1 .7

1 1.6

1 2.0

1 2.8

1 0.7

3 -7 9

4 -7 9

1 -80

2 -8 0

3-80

4 -8 0

1 -8 1

2 -81

3 -81

4 -8 1

1-82

2-82

3 -8 2

4 -82

1—83

2 -8 3

3 -8 3

4 -8 3

1-84

3 ,4 3 1 .7
3 ,5 5 3 .3
3 ,6 4 4 .7

iw rrrA ir tkjarter'

GROSS NA TI O N A L PRODUCT IN 1972 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE

1 .3
-2 .3

-3 .7

3 -8 0

4 -80

1 -8 1

2 -81

3-81

2-82

3 -8 2

4 -82

1-83

2 -8 3

3 -8 3

4 -8 3

1 -84

1 .9

2 -8 0

2-80

0 .7

1 -8 0

1 -80

1
8

4 -79

*
1
>
0

3 -7 9

& I L L IONS OF
DOLLARS
ANNUAL RAT ES

QUARTER

1
0
0

IN ITIA L

T ER M IN A L
QUARTER

1 ,4 8 9 .3
1 ,4 9 6 .4
1 ,4 6 1 .4

-9 .0

1 ,46 4.2

3 —8 0

-1 .5

-2 .2

-4 .3

0 .8

4 -8 0

-0 .5

-0 .8

-1 .6

2 .3

3 .8

1 -81

1 .2

1.3

1 .1

4 .8

6 .8

1 ,4 7 7 .9
1 ,51 3.5

10.0

1 ,5 1 1 .7

2 -8 1

1 .0

1 .0

0 .8

3 .4

4 .3

4 .6

-0 .5

3 -8 1

1 .2

1.3

1.1

3 .3

4 .0

4 .0

1 .1

2 .8

4 -8 1

0 .4

0 .4

0 .2

1 .8

2 .0

1 .6

-1 .1

-1 .4

-5 .4

1 ,52 2.1
1 ,5 0 1 .3
1 ,48 3.5

1 -8 2

-0 .1

-0 .2

-0 .4

0 .9

0 .9

0 .3

-2 .0

-2 .5

-5 .0

-4 .7

2 -8 2

-0 .1

-0 .2

-0 .5

0 .7

0 .6

0 .1

-1 .7

-2 .1

-3 .6

-2 .8

-0 .8

3 -82

-0 .2

-0 .3

-0 .5

0 .5

0 .4

-0 .0

-1 .6

-1 .8

-3 .0

-2 .1

-0 .9

-0 .9

4 -8 2

-0 .2

-0 .2

-0 .4

0 .5

0 .4

0 .0

-1 .3

-1 .5

-2 .3

-1 .5

-0 .4

-0 .2

1 -8 3

0 .1

0 .0

-0 .1

0 .7

0 .7

0 .4

-0 .7

-0 .8

-1 .4

-0 .5

0 .5

0 .9

1 .9

3 .3

2 -8 3

0 .7

0 .7

0 .6

1 .4

1 .5

1.3

0 .3

0 .4

0 .1

1 .0

2 .2

3 .0

4 .3

6 .3

1 .8

1 .9

1 ,4 8 0 .5
1 ,47 7.1
1 ,47 8.8

0 .5

1 ,4 9 1 .0
9 .4

1 ,5 2 4 .8
1 ,5 5 0 .2

3 -6 3

1.1

1.1

1 .0

1.8

1.0

1.1

0 .9

1 .8

3 .0

3 .7

4 .9

6 .5

8 .1

6 .8

4 -8 3

1.3

1.4

1.3

2 .1

2 .2

2 .1

1 .4

1 .6

1.5

2 .4

3 .4

4 .1

5 .1

6 .3

7 .4

6 .4

5 .9

1 -8 4

1 .8

1 .9

1 .9

2 .6

2 .8

2 .7

2.1

2 .3

2 .3

3 .2

4 .2

4 .9

6 .0

7 .1

8 .0

7 .6

8 .0

10.1

2 -8 4

2 .1

2.1

2 .2

2 .9

3 .0

3 .0

2 .5

2 .7

2 .7

3 .6

4 .5

5 .2

6 .1

7 .1

7 .9

7 .5

7 .7

8 .6

7 .1

5— 79

4 -79

1 -80

2 -80

3-80

4 -8 0

1 -8 1

2-81

3-81

4 -81

1-82

2 - B Z ' 3 -82

4-82

1 -83

2 -8 3

3 -8 3

4 -8 3

1-84




IN ITIA L

1 ,5 7 2 .7
1 ,6 1 0 .9
1 ,6 3 8 .8

QUARTER

PREPARED BY FED ER A L RESERVE BANK OF S T .
SEPTEM BER 2 0 , 1984

12

LO Ü 1 5

GROSS
RATI O

SCALE

976

NAT I ON AL

PRODUCT

977

1978

1979

1 980

1981
SOURCE:

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S
LATEST DATA PLOTTED,




RATI O

QUARTERLY TOTALS AT ANNUAL RATES

2ND OUARTER

U.S.

1983

1984

DEPARTMENT OF COMMERCE

IN D IC A T E D .

pR£pARE0 By

13

19 8 2

SCALE

p g S g Ry g BAMK 0F

L0U ts

GENERAL P R I C E
RATIO

INDEX*

SCALE

RATIO

1972-100

1976
• A S USED

SCALE

1972-)00

1977
IN NATIONAL

1978

1979

1980

1981

INCOME ACCOUNTS

P ERCENT AGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S
LA TE ST DATA PLOTTED»

1982

SOURCE»

U .S .

1983

1984

DEPARTMENT OF COMMERCE

IN D IC A T E D .

2ND QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST .

L O U IS

I M P L I C I T PR ICE DE FLATOR FOR GROSS N A T I O N A L PRODUCT
___________ COMPOUNDED ANNUAL RATES OF CHANGE________
TE R M IN A L
QUARTER

4 -7 9

1972 «

I N I T I A L IQUARTER
3 -7 9

4 -7 9

1-80

2 -80

3 -8 0

4 -60

1 -8 1

2-81

7 .3

3-81

4 -81

1 -82

2 -82

3 -8 2

4 -8 2

1 -83

2 -8 3

3-63

4 -83

1 68.05

1 -6 0

8 .4

9 .6

o
®

T

9.3

10.3

10.9

3 -8 0

9 .2

9 .8

9 .9

171 .94
176 .46
8 .8

1 80 .24

4 -0 0

9.6

1 0.2

10.4

10.1

1 1.3

1 -6 1

9 .8

10.3

1 0.5

10 .4

1 1.1

11.0

2 -81

9 .3

9 .7

9 .7

9 .4

9 .6

8 .7

185.13
190.01
6 .5

193 .03

3-61

9 .4

9 .7

9 .8

9 .5

9 .7

9 .2

8 .3

10.0

4 -6 1

9 .3

9 .6

9.5

9 .3

9 .4

8 .9

8 .3

9 .2

8 .3

8.8

9 .0

8 .9

8 .6

8 .6

8.1

7 .4

7 .6

6 .5

C
D
N»

100

1 -84

1 97 .70
201 .69
2 0 3 .98

4.6

2 -6 2

8 .5

8 .6

8 .5

8 .2

8 .2

7 .6

7 .0

7 .1

6.2

5 .1

5 .6

3 -6 2

8 .1

8 .2

8 .0

7 .7

7 .6

7 .0

6 .4

6 .4

5 .5

4 .5

4 .5

3 .4

7 .6

7 .3

7 .1

6 .6

6 .0

5 .9

5 .1

4 .3

4 .1

3 .4

3 .4

6 .9

6 .4

5 .8

5 .7

5 .1

4 .4

4 .4

4 .0

4 .2

5 .0

4 -6 2

7 .7

7 .8

1 -63

7 .5

7 .5

7 .4

7 .1

2 06 .77
2 08 .53
2 10 .27
2 12 .87

2 -6 3

7 .2

7 .2

7 .0

6 .7

6 .5

6 .0

5 .5

5 .4

4 .7

4 .1

4 .0

3 .6

3 .7

3 .8

2 .6

3 -6 3

6 .9

6 .9

6.7

6 .4

6 .2

5 .7

5.2

5.1

4 .5

4 .0

3.9

3 .5

3 .5

3 .6

2 .9

3 .1

4 -6 3

6.8

6 .7

6 .6

6 .3

6 .1

5 .6

5 .2

5 .0

4 .5

4 .0

3 .9

3 .7

3 .7

3 .8

3 .4

3 .7

4 .4

1-64

6 .6

6 .6

6 .4

6 .1

5 .9

5 .5

5.1

5 .0

4 .5

4 .1

4 .0

3 .8

3 .8

3 .9

3 .6

4 .0

4.4

4 .4

2 -6 4

6 .5

6 .4

6 .2

6 .0

5 .8

5 .4

5 .0

4 .8

4.4

4 .0

3.9

3 .7

3.7

3 .8

3 .6

3 .8

4.0

3 .9

3 .3

3 -79

4 -7 9

2 -8 0

3 -8 0

4 -8 0

1-81

Z -S l

3-81

4—81

1-82

2 -8 2

3 -8 2

4 -8 2

1 -6 3

2 -8 3

3 -8 3

4 -8 3

1 -84

1-9 Ö




IN ITIA L

214 .25
2 1 5 .89
2 18 .21
220 .58
2 2 2 .4 0

G
< UARtER

PftÉÊARÉb ÔV É Éb éftA L RëSëRVë ban k öP
SEPTEM BER 2 0 , 1964

14

ST. L ö U I i

PERSONAL CONSUMPTION EXPEND ITURE S IN CURRENT DOLLARS
___ _________ COMPOUNDED ANNUAL RATES OF CHANGE_______________
TERMIN AL
QUARTER

IN ITIA L
3 -79

4 -7 9

1 2.4

1-80

2 -8 0

3 -8 0

4 -80

1 -8 1

2 -81

3-81

4 -81

1 -8 2

2-82

3 -8 2

4 -82

1 -83

2 -8 3

3 -83

4 -83

1-84

1 3.7

1—80

4 -7 9

B I L L I O N S OF
DOLLARS
ANNUAL RAT ES

QUARTER

1 ,57 8.0
1 1.2

1 ,6 2 0 .5

2 -8 0

8 .6

6 .2

1.5

3 -8 0

1 0 .1

9 .0

7 .9

14.8

4 -6 0

1 1.0

1 0.4

1 0 .1

1 4 .7

1 ,6 2 6 .4
1 ,6 8 3 .4
1 4.6

1 ,7 4 1 .9

1 -81

11 .4

1 1.0

10.9

14.3

1 4.1

1 3 .5

2 -8 1

10*8

1 0.4

10.2

12.5

11.7

1 0.3

7 .2

3 -8 1

10.fi

1 0.4

10.3

12.2

1 1.5

10.5

9 .0

1 0.9

4 -81

9 .9

9 .5

9 .2

1 0.6

9 .8

8 .6

7 .0

6 .9

1 -8 2

9 .8

9 .4

9 .2

1 0.3

9 .6

8 .6

7 .4

7 .5

5 .8

8 .6

2 -82

9 .5

9.1

8 .8

9 .8

9 .1

8 .2

7 .2

7 .2

6 .0

7 .4

1 ,79 7.9
1 ,82 9.3
1 ,8 7 7 .3
1 ,89 1.8

3 .1

1 ,93 1.3
1 ,9 6 0 .9

6 .3

3 -8 2

9 .4

9 .0

8 .8

9 .7

9 .0

8 .3

7 .4

7 .5

6 .6

7 .8

7 .4

8 .5

4 -8 2

9 .4

9 .0

8 .8

9 .6

9 .1

8 .4

7 .7

7 .8

7.1

8 .2

8 .0

8 .9

2 ,0 0 1 .3
2 ,0 4 6 .1

9 .3

1 -83

9 .1

8 .7

8 .5

9 .2

8 .6

8 .0

7 .3

7 .3

6 .7

7.5

7 .2

7 .5

7 .0

4 .8

2 -83

9 .4

9 .1

9 .0

9 .6

9 .1

8 .6

8.1

8 .2

7.8

8 .6

8 .6

9 .2

9 .5

9 .6

1 4.5

3 -8 3

9 .3

9 .0

8 .9

9 .5

9 .0

8 .5

8 .0

8 .1

7 .8

8 .5

8 .5

8 .9

9 .0

8 .9

1 1.0

7 .6

4 -8 3

9 .3

9 .0

8 .9

9 .4

9 .0

8 .6

8 .2

8 .2

8 .0

8 .6

8 .6

9 .0

9 .0

9 .0

1 0.4

8 .4

9 .3

1 -8 4

9 .3

9 .0

8 .9

9 .4

9 .0

8 .6

8 .2

8 .3

8 .0

8 .6

8 .6

8 .9

9 .0

8 .9

10.0

8 .5

8 .9

8 .6

2 -8 4

9 .3

9.1

8 .9

9 .4

9 .1

8 .7

8 .3

8 .4

8 .2

8.7

8 .8

9. 1

9 .2

9 .1

1 0 .0

8 .9

9 .4

9 .4

3 -79

4 -79

1 -80

2 -80

3-80

4 -8 0

1 -8 1

2 -81

3 -81

4 -81

1 -8 2

1-83

2 -6 3

3 -8 3

4 -8 3

2 -82

3 -82

2 ,0 7 0 .4
2 ,1 4 1 .6
2,1 8 1 .4
2 ,2 3 0 .2
2 ,2 7 6 .5
1 0.2

2 ,3 3 2 .7

' I N I T I A L QUARTER

PERSONAL CONSUMPTION EX PE NDI TU RE S IN 1972 DOLLARS
___________ COMPOUNDED ANNUAL RATES OF CHANGE____________
B I L L I O N S OF
TE RMIN AL________________________________________________________________________ I N I T I A L QUARTER_______________________________________________________________________ DOLLARS
QUARTER
ANNUAL R AT ES
3 -7 9
4-7 9
1-80
2-80
3-80
4 -8 0
1 -8 1
3-81
2-81
4-81
1 -84
1 -83
4 -8 3
1 -8 2
2-82
3 -82
4 -8 2
2 -8 3
3-83
4 -7 9

3 .3

9 3 8 .6

1 -8 0

1.6

-0 .1

2 -80

-1 .6

-4 .0

-7 .7

3 -6 0

-0 .2

-1 .3

-1 .9

4 -8 0

0 .8

0.1

0 .2

4 .5

4 .6

1 -81

1 .4

1.0

1.3

4 .5

4 .5

4 .4

2 -81

l.l

0 .7

0 .9

3 .2

2 .8

1.9

3 -6 1

1 .3

1.0

1.2

3 .1

2 .8

2 .2

1.2

2 .8

4 -6 1

0 .8

0 .4

0 .5

2 .0

1.5

0 .7

-0 .5

-0 .5

-3 .7

1 -8 2

1 .0

0 .7

0 .8

2 .1

1 .7

1 .2

0 .4

0 .6

-0 .4

2 .9

2 -6 2

1.1

0 .9

1 .0

2 .1

1 .8

1 .3

0 .7

1 .0

0 .4

2 .6

2 .2

3 -8 2

1 .2

1.0

1 .1

2 .1

1 .9

1 .5

1 .0

1 .3

0 .9

2 .5

2 .2

2 .2

4 -62

1 .5

1.3

1 .5

2 .4

2 .2

1 .9

1 .6

1 .9

1 .7

3.1

3 .2

3 .7

5 .1

1 -6 3

1 .6

1 .4

1 .5

2 .4

2 .2

2 .0

1 .7

2 .0

1.9

3 .0

3 .0

3 .3

3 .8

2 .6

2 -63

2 .1

2 .0

2 .2

3 .0

2 .9

2 .8

2 .6

3 .0

3 .0

4 .1

4 .4

4 .9

5 .6

6 .2

9 3 8 .3
9 1 9 .6
4 .3

9 2 9 .4
9 4 0 .0
9 5 0 .2
-0 .5

9 4 9 .1
9 5 5 .7
9 46.8
9 53 .7
9 5 8 .9
9 6 4 .2
9 7 6 .3
9 8 2 .5
1 0.0

1 ,0 0 6 .2

3 -63

2 .2

2 .1

2 .3

3 .1

3 .0

2 .9

2 .7

3 .1

3.1

4 .1

4.3

4 .7

5 .3

5 .4

6 .9

3 .6

4 -6 3

2 .5

2 .4

2 .6

3 .4

3 .3

3 .2

3.1

3 .4

3 .5

4 .4

4 .6

5 .0

5 .6

5 .7

6 .6

3 .3

1-64

2 .6

2 .5

2 .7

3 .4

3 .4

3 .3

3 .2

3 .3

3 .6

4 .4

4 .6

5 .0

5 .5

5 .5

6 .3

5 .1

5 .7

4 .6

2 -6 4

2 .9

2.6

3 .0

3 .7

3 .7

3 .6

3 .5

3 .9

4 .0

4 .6

5 .0

5 .3

5 .6

5 .9

6 .6

5 .6

6 .4

6 .3

7 .9

3 -T?

4 -7 ?

1 -60

2 -6 0

3 -6 0

4 -6 0

1-81

2-81

3 -81

4-81

1 -8 2

2-82

3 -8 2

4 -8 2

1 -83

2 -8 3

3 -83

4 -83

1-84




M iT U L

w

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

6 .8

1 ,0 4 4 .1
1 ,0 6 4 .2

Ar Te A

PfcËÊAftED &Ÿ PÉÔÊftAL ftÉSËftVÊ 6ANK ÖF
SEPTEM BER 2 0 , 1984

15

S T.

L O U IS

GROSS P R IV A T E D O M ESTIC IN V E S TM E N T IN CURRENT DOLLARS
_____________COMPOUNDED ANNUAL R ATES OF CHANGE_______________
TE R MI N AL
QUARTER

IN ITIA L
3-79

4 -79

1-80

2-8 0

3 -80

4 -7 9

-4 .5
- 11.4

-1 0 .5

- 1 2 .1

-1 1 .8

-1 9 .1

-3 .8

-1 .2

-3 .2

9 .0

4 -81

1 -8 2

2—82

3 -82

4 -8 2

1 -83

2 -8 3

3 -8 3

4 -8 3

1 -84

-1 4 .2

4 -8 0

3 -8 1

-2 3 .8

3 -8 0

2 -81

5.1

2 -8 0

1 -8 1

- 13.3

1 -8 0

4 -80

B I L L I O N S OF
DOLLARS
ANNUAL RAT ES

QUARTER

3 8 .5

4 16 .8
4 22 .0
3 9 4 .3
3 7 9 .5
4 11.7

1 -81

5 .5

9 .7

1 0.9

2 5.7

5 2.1

6 7.1

2 -8 1

6 .4

1 0 .0

1 1.1

2 2.0

37.2

3 6 .6

11.6

3 -6 1

8 .2

1 1 .7

1 2.8

2 2 .0

3 3 .3

3 1 .6

16.8

22 .2

4 -81

5 .0

7 .5

7 .9

1 4.3

2 1.0

1 7.0

3 .9

0 .2

-1 7 .7

4 68 .1
4 81 .1
505 .8
4 8 1 .7

1 -8 2

0 .4

2.0

1 .7

5 .9

9 .7

4 .7

—6 . 8

-1 2 .2

-2 5 .6

-3 2 .8

2 -8 2

-0 .1

1.4

1 .0

4 .6

7 .6

3. 1

-6 .4

-1 0 .4

-1 9 .2

-1 9 .9

-4 .5

3 -8 2

-1 .3

-0 .1

—0 . 6

2 .4

4 .7

0 .6

-7 .6

-1 1 .0

-1 7 .8

-1 7 .8

-9 .1

-1 3 .5

436 . 2
4 31.2
415 .9

4 -8 2

-4 .2

-3 .4

-4 .1

-1 .9

-0 .4

-4 .4

-1 1 .7

-1 5 .1

-2 1 .1

-2 1 .9

-1 7 .9

-2 3 .9

-3 3 .1

1 -8 3

-1 .8

-0 .9

-1 .4

1 .0

2 .6

-0 .7

-7 .0

-9 .4

-1 3 .8

-1 3 .0

-7 .2

-8 .0

-5 .2

3 4 .3

376 .2
4 0 5 .0

2 -8 3

1.1

2.2

2 .0

4 .5

6 .4

3 .6

-1 .8

-3 .3

—6 . 5

-4 .5

2 .5

4 .3

1 0.9

4 2 .8

5 1.9

3 -6 3

3 .3

4 .5

4 .5

7 .0

9 .0

6 .7

2 .0

1 .0

-1 .4

1.2

8 .3

1 1 .1

1 8 .3

4 3 .0

4 7 .5

4 3.3

4 -6 3

5 .4

6 .7

6 .8

9 .4

1 1.5

9 .5

5 .3

4 .7

3 .0

5 .9

13.0

1 6.2

2 3 .2

4 3 .5

4 6 .8

4 4 .3

4 5 .2

1 3.0

1 5.3

1 3.6

10.0

9 .9

8 .7

12.2

19.6

23.5

3 1 .0

4 9 .9

5 4 .0

5 4 .7

6 0 .8

7 8.1

449 .6
4 9 1 .9
5 4 0 .0

1 -8 4

8 .5

1 0.0

1 0.3

2 -8 4

8 .2

9 .5

9 .8

1 2.3

1 4 .3

1 2 .8

9 .4

9 .2

8.1

1 1 .1

1 7.5

2 0 .6

2 6 .4

4 0.6

4 1 .9

3 9.5

3 8 .2

34.8

2 .1

3 -79

4 -79

1 -é Ò

2 -éó

3 -8 0

4 -80

1—81

2 -6 1

5 -a t

4 -81

1 -82

2-62

3 -62

4 -6 2

1 -63

2 -8 3

3 -6 3

4 -6 3

1 -64

6 23 .8
6 27 .0

INITIAL QUARTER

GROSS P R IV A T E DOME ST IC IN VE S TM EN T IN 1972 DOLLARS
___________ COMPOUNDED ANNUAL RATE S OF CHANGE____________
TER MIN AL
QUARTER

IN ITIA L
3 -79

4 -79

1 -80

4 -7 9

-1 0 .6
-1 9 .1

-1 9 .3

-1 6 .8

-1 6 .2

-2 2 .5

1 -8 1

2-81

3 -8 1

4-81

1-82

2-82

3-82

4-82

1 -63

2 -83

3-83

4 -83

1-84

-3 3 .7

3 -6 0

4 -8 0

-1 .8

2 -80

3 -8 0

-1 8 .6

1 -80

2 -8 0

B I L L I O N S OF
DOLLARS
ANNUAL R ATES

QUARTER

2 2 5 .3
2 24 .3
202 .4
197 .4

*
1
CD
O

-9 .5

-9 .3

-6 .8

-8 .4

7 .7

2 8 .1

1 -8 1

-2 .5

1 .1

1 .9

1 7.6

34 .0

4 0 .2

2 -8 1

-1 .1

2 .2

3 .0

1 5 .0

2 4 .6

2 2 .9

7 .7

3 -8 1

0 .3

3.3

4 .2

1 4.0

20 .8

1 8.5

8.9

10.2

4 -8 1

-2 .6

-0 .4

-0 .2

6 .9

10.5

6 .5

-2 .8

-7 .7

-2 2 .6

2 1 0 .0
228 .5
2 3 2 .8
2 3 6 .5
2 2 3 .7
2 0 4 .7

1 -6 2

-5 .7

-4 .2

-4 .5

0 .6

2 .5

-2 .0

-1 0 .4

-1 5 .8

-2 6 .3

-2 9 .9

2 -82

-5 .9

-4 .6

-4 .9

-0 .5

0 .9

-3 .1

-1 0 .0

-1 3 .9

-2 0 .7

-1 9 .7

-8 .1

3 -8 2

-6 .4

-5 .2

-5 .6

-1 .8

-0 .8

-4 .3

-1 0 .2

-1 3 .5

-1 8 .5

-1 7 .1

-9 .9

-1 1 .6

4 -8 2

-8 .5

-7 .6

-8 .1

-5 .1

-4 .5

-8 .0

-1 3 .4

-1 6 .4

-2 0 .9

-2 0 .5

-1 7 .1

-2 1 .3

-2 9 .9

1 -8 3

-6 .0

-4 .9

-5 .2

-2 .0

-1 .2

-4 .1

-8 .5

-1 0 .6

-1 3 .7

-1 1 .8

-6 .5

-6 .0

-3 .1

3 4 .0

2 -8 3

-2 .9

-1 .6

-1 .6

1 .7

2 .7

0 .5

-3 .2

-4 .4

-6 .4

-3 .3

3 .1

6 .1

1 2.8

43.0

5 2 .5

3 -8 3

-0 .7

0 .6

0 .8

4 .1

5 .3

3 .5

0 .4

-0 .4

-1 .7

1 .8

8 .3

11.9

1 8 .7

4 1.4

4 5.3

3 8 .4

4 -8 3

1 .2

2 .6

2 .9

6 .2

7 .5

5 .9

3 .2

2 .8

2 .0

5 .6

12.0

1 5.7

22.1

4 0 .3

4 2 .5

3 7 .7

3 7 .0

1 -8 4

4 .2

5 .7

6 .2

9 .6

11.1

9 .9

7 .7

7 .7

7 .5

1 1.5

1 8.1

2 2.4

2 9.2

4 6.1

4 9 .2

4 6 .2

5 3 .3

2 -8 4

3 .9

5 .3

5 .7

8 .8

1 0 .2

9 .0

6 .9

6 .8

6 .5

10.0

1 5.6

19.0

2 4 .2

3 6 .6

3 7.1

33.5

3 1 .9

2 9.5

-2 .2

3— 79

4 -79

1-80

2-8 0

3-60

4 -60

1 -6 1

2-81

3 -8 1

4-81

1-82

~ 2 -S ?

5 -6 2

4 -6 2

1 -65

2 -6 3

3 -6 3

4 -6 3

1 -64




in it ia l

2 0 0 .4
1 9 4 .3
1 77.8
1 9 1 .3
2 12 .6
230 .6
249.5
285 .5

7 1.5

2 8 3 .9

quarter

PREPARED BY FEDERAL RESERVE BANK OP S T . LÙU1S
SEPTEM BER 2 0 ,

16

1 984

GOVERNMENT PURCHASES OF GOODS AND S E R V IC E S IN CURRENT DOLLARS
___________________ COMPOUNDED ANNUAL RATES OF C H A N G E _____________________
TERMINAL
QUARTER
T
■0

IN ITIA L
4 -7 9

1-80

2 -8 0

3-80

4 -80

4 -7 9

1 7.0
16.2

15.8

1 2.7

1 1.3

8 .5

13.2

12.3

10.8

9 .0

1-81

13.2

12.5

11.4

1 0.4

14.4

12.2

1 1.4

10.3

9 .3

11.6

9 .6

3-82

2 -82

4 -8 2

1-83

2 -8 3

3 -8 3

4 -8 3

13.2

2 -8 1

1 -8 2

2 .7

4 -80

4-81

1 4.6

3-8 0

3 -81

17.1

2-8 0

2 -81

B I L L I O N S OF
DOLLARS
ANNUAL RATE S
1 -84

1 6.9

1 -8 0

1-81

QUARTER

4 9 7 .6
5 17.6
5 35 .5
5 39.1
15.6

559 .0
5 76.6
6 .2

5 8 5 .3

3 -8 1

1 2 .1

11.4

10.5

9 .7

11.5

10.2

8 .8

1 1.4

4-8 1

1 2.4

1 1.9

1 1 .1

1 0.6

12.2

1 1.4

10.8

1 3 .2

1 5.0

6 0 1 .3
6 2 2 .7

1 -82

11.7

11.1

10.4

9.8

11.1

10.2

9 .4

10.5

10.1

5 .4

2 -8 2

1 0 .8

10.2

9 .4

8 .8

9 .7

8 .7

7 .8

8 .3

7 .2

3 .6

1 .8

3 -8 2

1 1 .1

1 0.6

10.0

9 .5

1 0.3

9 .6

9 .0

9 .6

9 .1

7 .3

8 .2

15.0

6 30 .9
6 3 3 .7
6 5 6 .3

1 1 .5

1 1 .0

10.5

1 0 .1

1 0.9

10.4

1 0.0

10.6

10.5

9 .4

1 0.7

1 5 .5

1 5.9

1-83

10.5

10.0

9 .5

9 .0

9 .7

9 .0

8 .5

8 .8

8 .4

7 .1

7 .6

9 .6

7 .0

-1 .3

2 -8 3

9 .0

9 .4

8 .9

8 .4

8 .9

8 .3

7 .8

8 .0

7 .5

6 .3

6 .5

7 .7

5 .3

0 .4

2 .0

3 -6 3

9 .6

9 .1

8 .6

8.1

8 .6

7 .9

7 .4

7 .6

7 .1

6 .0

6.1

7 .0

5 .1

1 .7

3 .3

4 .5

9.0

8 .6

8 .0

7 .6

8 .0

7 .3

6 .8

6.9

6 .4

5 .4

5 .4

6 .0

4 .3

1 .5

2 .5

2 .7

*
1

CD

4 -8 2

6 81 .0
6 7 8 .8
6 8 2 .2
6 89 .8
0 .9

6 9 1 .4

1 -8 4

9 .0

8.5

8 .0

7 .6

7 .9

7 .4

6 .9

7 .0

6 .5

5 .6

5 .7

6 .2

4 .8

2 .7

3 .8

4.4

4 .3

7 .7

2 -8 4

9 .7

9 .3

8 .9

8 .6

9 .0

8 .5

8.1

8 .3

8 .0

7 .4

7 .6

8 .3

7 .4

6 .0

7 .6

9 .0

1 0.6

1 5.7

2 4 .3

3-79

4 -7 9

1-80

2-Ô0

3- ÖÖ

4 -8 0

1 -8 1

3-81

4-— 81

1 -8 2

'3 -8 2

4 -8 2

1 -83

~ 2-83

3 -8 3

~ 4 -8 T'

1 -84

2 -83

3-83

4-83

1-84

IN ITIX l

QUARTER

GOVERNMENT PURCHASES OF GOODS AND S ER VIC ES IN
COMPOUNDED ANNUAL RATES OF CHANGE
TERMIN AL
QUARTER

______
3-79

4 -7 9

4 -7 9

7 0 4 .4

1972 DOLLARS

I N I T I A L QUARTER
1 -8 0

2 -80

3 -80

4 -8 0

1 -8 1

2-81

3 -81

7 43 .7

4-81

1 -8 2

DOLLARS
ANNC iMT ^AT fr S
2 -82

3 -82

4 -8 2

1-83

3 .5

2 8 1 .2

1 -80

3.8

4.0

2 -8 0

3 .8

4 .0

4 .0

2 84 .0

3 -8 0

1 .9

1.3

0 .0

-3 .8

4 -8 0

l.l

0.5

-0 .7

-3 .0

-2 .1

1 -81

1.7

1 .4

0 .7

-0 .4

1 .4

5 .0

2 -8 1

1.3

0 .9

0 .3

-0 .6

0 .5

1.8

2 86 .8
2 84.0
2 82 .5
2 86 .0
285 .1

-1 .3

3 -8 1

1 .5

1.3

0 .8

0 .2

1.2

2 .3

1.0

3.3

4 -8 1

1.7

1 .5

1. 1

0 .6

1.6

2 .5

1 .7

3 .2

3.1

1 -82

I .6

1 .4

l.l

0 .7

1 .5

2 .2

1 .5

2 .4

2 .0

0 .8

2 8 7 .4
2 8 9 .6
290 .2

2 -8 2

l.l

0 .8

0 .5

0 .0

0 .6

1.1

0 .3

0 .7

-0 .2

-1 .8

-4 .3

3 -82

1 .6

1 .5

1.2

0 .9

1 .5

2 .1

1 .6

2 .2

1 .9

1 .5

1 .8

8 .3

4 -8 2

2 .3

2 .2

2 .1

1 .9

2 .6

3 .2

2 .9

3 .6

3 .7

3 .8

4 .8

9 .7

2 8 7 .0
2 92 .8
11.1

3 00 .6

1 -8 3

1 .6

1.4

1.2

0 .9

1.4

1 .8

1 .4

1.8

1.6

1.3

1.4

3 .4

1.0

-8 .1

2 -8 3

1.3

l.l

0 .9

0 .6

1 .1

1 .4

1 .0

1.3

1 .0

0 .6

0 .6

1 .9

-0 .2

-5 .4

-2 .6

3 -8 3

1.2

1 .0

0 .8

0 .6

0 .9

1.2

0 .8

l.l

0 .8

0 .5

0 .4

1 .4

-0 .3

-3 .8

-1 .6

-0 .5

4 -8 3

0 .8

0 .7

0 .4

0 .2

0 .5

0 .7

0 .4

0 .5

0 .2

-0 .1

-0 .3

0 .4

-l.l

-3 .9

-2 .5

-2 .4

—4 . 3

1 -8 4

0 .8

0 .7

0 .5

0 .3

0 .5

0 .8

0 .4

0 .6

0 .3

-0 .0

-0 .1

0 .5

-0 .8

-3 .0

-1 .6

-1 .3

-1 .7

1 .0

2 -8 4

1 .7

1.6

1.5

1 .3

1 .7

1.9

1 .7

1 .9

1.8

1 .7

1.8

2 .6

1.8

0 .3

2 .1

3 .3

4 .6

9 .4

1 8.6

3 -7 ?

4 -7 9

1-8Ö

2 -8 Ö

3 -8 0

4-6 0

1-81

2 -8 1

3 -5 1

4 -S T

1-82

2 -8 2

3 -82

4 -8 2

1 -8 3

¿ -8 3

3 -8 3

4 -8 3

1 -84




IN ITIA L

2 94 .3
2 9 2 .4
292 .0
2 88 .8
2 89 .5
3 02.1

QuAR IER

PREPARED BV F ED ER A L R E S E R V E T A N K
SEPTEM BER 2 0 , 1984

17

OF

S T T 'L O U I S

D IS P O S A B LE PERSONAL INCOME IN CURRENT DOLLARS
_______ COMPOUNDED ANNUAL RATES OF CHANGE__________
IN ITIA L

TERMINA L
QUARTER
1 -80

2 -80

3 -80

1 2.0
9 .3

8 .9

0
CO
1
*■
<>

1 0.3

1 0.3

8 .6

11 .0

11.3

1 0.4

1 3.6

1 1.5

1 1.8

1 1.3

1 3.8

14.2

4 -81

2 -82

1 -8 2

3 -82

4 -8 2

1 -83

3 -8 3

4 -8 3

1-84

1 4.1

1-81

3 -8 1

13.2

4 -8 0

2 -8 1

13.9

2 -8 0

1 -8 1

1 0 .1

1-80

4 -8 0

m

4 -7 9

00
1
<N

3 -79
4 -7 9

¿ T L l IONS o f
DOLLARS
ANNUAL RATES

QUARTER

1 ,71 4.9
1,77 1.7
4 .1

1 ,78 9.8
1 ,84 6.0
1 ,9 0 8 .0
14.2

1 ,9 7 2 .5

2 -8 1

10.0

11.0

1 0.4

12.1

1 1.7

10.5

7 .0

3-8 1

11.4

1 1 .6

1 1 .2

1 2.7

1 2 .6

1 2 .1

11 .0

15.3

4 -81

10.8

1 0.9

10.5

1 1.6

11.3

1 0.6

9 .4

1 0.6

6.1

1 0.5

10.1

9 .3

8.1

8 .5

5.2

4 .3

2 ,0 0 6 .0
2 ,0 7 8 .6
2 , 109 .8

1 -82

10.1

10.2

9 .7

2-82

9 .6

9 .6

9.1

9 .8

9 .3

8.5

7 .4

7 .5

5 .0

4 .5

4 .7

3 -82

9 .5

9 .4

9 .0

9 .5

9 .1

8 .4

7 .4

7.5

5 .6

5.5

6 .1

7 .4

4 -8 2

9 .3

9 .3

8 .9

9 .3

8 .9

8 .3

7 .5

7 .6

6.1

6 .1

6 .7

7 .6

7 .8

2 ,1 3 2 .0
2 ,1 5 6 .8
2 ,1 9 5 .8

1 -8 3

9 .0

8 .9

8 .5

8 .9

8 .5

7 .8

7.1

7.1

5.8

5 .7

6.1

6 .5

6 .1

4 .3

2 -83

8 .9

8.8

8 .4

8 .8

8 .4

7.8

7 .1

7 .1

6 .0

6 .0

6 .4

6.8

6 .6

5 .9

7 .5

3 -8 3

9 .0

< > .o

8 .6

9 .0

8 .6

8 .2

7 .6

7 .6

6.7

6 .8

7 .2

7 .7

7 .8

7 .8

9 .6

4 -8 3

9 .1

9 .1

8.8

9 .1

8 .8

8 .4

7 .9

7 .9

7.2

7 .3

7 .7

8.2

8 .4

8 .5

1 0.0

11.2

10.7

1 -8 4

9 .3

9 .3

9 .0

9 .3

9 .1

8 .7

8 .3

8 .4

7 .7

7 .9

8 .3

8 .9

9 .1

9 .4

1 0.6

1 1.7

11.7

12.7

2 -8 4

9 .3

9 .3

9 .0

9 .3

9 .0

8 .7

8 .3

8 .4

7 .8

7 .9

8 .4

8 .8

9 .0

9 .2

1 0.2

10.9

1 0.7

1 0.6

8 .6

3 -79

4 -7 9

1-80

2 -8 Ö

3-80

4 -80

1 -8 1

2 -81

3 -8 1

4 -81

1 -8 2

2 -82

3-82

4-82

1-83

00

2 ,2 3 7 .5

3-83

4 -8 3

1-84

2 ,2 6 1 .4
2 ,3 0 2 .9

M

1

1 1.7

2 ,3 6 7 .4
2 ,4 2 8 .6
2 ,5 0 2 .2
2 ,55 4.3

I N I T I A L QUARTET*'

DIS P OS A BL E PERSONAL INCOME I N 1972 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
IN ITIA L

T ER M IN AL
QUARTER
3 -7 9
4 -7 9

4 -7 9

1 -80

2 -8 0

3 -80

4 -80

1 -8 1

2 -8 1

3 -8 1

BTLLIQNS O F "
DOLLARS
ANNUAL RAT£5

QUARTER

4 -81

1 -8 2

2 -82

3 -8 2

4 -8 2

1-83

2 -8 3

3 -8 3

4 -8 3

1-84
1 ,02 0.1

0 .1

1 ,025.8

1 -8 0

1 .2

2 .3

2 -8 0

-1 .0

-1 .6

-5 .3

3 -8 0

-0 .1

-0 .1

-1 .3

4 -8 0

0 .8

0 .9

0 .5

3 .5

4 .1

1 -8 1

1 .5

1 .8

1.6

4 .0

4 .6

5.1

2 -8 1

1 .2

1.3

1.2

2 .8

2 .8

2 .2

-0 .7

3 -8 1

1 .9

2.1

2 .1

3 .6

3 .8

3 .7

3 .0

6 .9

4 -8 1

1 .6

1 .7

1.7

2 .9

2 .9

2 .6

1.7

3.0

-0 .8

1 -6 2

1 .3

1 .4

1 .3

2 .3

2 .2

1.8

1 .0

1 .6

-1 .0

-1 .2

2 -6 2

1 .2

1 .3

1 .2

2 .1

2 .0

1 .6

0 .9

1.4

-0 .4

-0 .2

1 ,0 1 2 .0
1 ,01 9.2

2 .9

1 ,02 9.6
1 ,04 2.5
1 ,04 0.7
1 ,0 5 8 .1
1 ,05 6.0
1 ,0 5 2 .8
1 ,05 4.8

0 .8

1 ,0 5 7 .9

3 -8 2

1 .2

1.3

1 .2

2 .0

1 .9

1 .6

1 .0

1.3

-0 .0

0 .2

1 .0

1.2

4 -6 2

1 .4

1.5

1 .5

2 .2

2 .1

1 .8

1.4

1.7

0 .7

1.1

1.9

2 .4

3 .7

1 -6 3

1 .5

1.6

1.5

2 .2

2 .1

1 .9

1.5

1.8

0 .9

1 .3

1 .9

2 .3

2 .9

2.1

1 ,0 6 7 .6
1 ,0 7 3 .1
1 ,0 8 2 .0

2 -6 3

1 .6

1 .7

1 .7

2 .3

2 .2

2 .0

1 .7

2 .0

1.3

1 .6

2.2

2 .6

3 .0

2 .7

3 .4

3 -6 3

2 .0

2.1

2 .1

2 .7

2 .6

2 .5

2 .3

2 .6

2.1

2 .5

3.1

3 .6

4 .2

4 .3

5 .5

7 .7

4 -6 3

2 .3

2 .5

2 .5

3 .1

3 .1

3.0

2 .8

3.1

2 .7

3 .2

3 .8

4 .3

5 .0

5 .3

6 .4

8 .0

8 .3

1 -6 4

2 .7

2.8

2 .8

3 .4

3 .4

3 .4

3 .3

3 .6

3.3

3 .8

4 .4

4 .9

5 .6

6 .0

6 .9

8 .2

8 .4

8 .6

2 -6 4

2 .8

3 .0

3 .0

3 .6

3 .6

3 .6

3 .5

3.8

3 .6

4 .0

4 .6

5 .1

5 .7

6 .0

6 .8

7 .7

7 .7

7 .4

6 .3

4 -7 9

I -8 0

2 -8 0

3 -8 0

4 - 6 0 n -61

2 -Ö 1

4 -81

1 -8 2

~ Z -62

3 -82

4-82 ~

1 -8 3

2 -63

3 -6 3

4 -8 3

1 -64




3- s r

1 ,10 2.2
1, 124.3
1 ,14 7.6
1 ,16 5.3

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST, LO UIS
SEPTEM BER 2 0 ,

18

1964

CORPORATE P R O FI T S AFT ER TAX ES *
COMPOUNDED ANNUAL RATES OF CHANGE

0
0
0
1

B I L L I O N S ÖF
T ERM IN AL________________________________________________________________________ I N I T I A L QUARTER_______________________________________________________________________DOLLARS
QUARTER
ANNUAL R AT ES
3 -7 9
4 -79
1 -8 0
3 -8 0
2 -81
3-81
4-81
4 -8 0
1-81
1 -83
2-83
3-83
1-84
4 -83
3 -8 2
4 -8 2
1 -8 2
2 -82
4 -7 9

— 10 *4

1 -8 0

—4*0

2 .9

2 -80

-2 3 .0

-2 8 .6

1 65 .0
1 66.2
-5 0 .5

1 3 9 .4

3 -8 0

-1 3 .4

-1 4 .4

-2 1 .9

2 3.3

4 -8 0

-1 1 .0

-1 1 .1

-1 5 .3

10.7

-0 .5

1-81

-7 .8

-7 .2

—9 . 6

1 0 .5

4 .5

9 .9

2 -8 1

-1 2 .1

-1 2 .3

-1 5 .1

-2 .9

-1 0 .3

-1 4 .8

3 -81

-9 .3

-9 .2

-1 1 .1

0 .0

-5 .1

—6 . 6 - 1 3 . 9

1 2.4

4 -8 1

-9 .6

-9 .5

-1 1 .2

-2 .1

-6 .5

-8 .0

-1 3 .3

—0 . 6

1 4 6 .9
1 46 .7
1 50.2
1 3 5 .4

-3 4 .0

1 39 .4
-1 2 .0

1 35 .0
1 0 4 .7

1 -8 2

-1 7 .5

-1 8 .3

-2 0 .6

-1 5 .1

-2 0 .2

-2 3 .6

-3 0 .3

-2 9 .0

-4 3 .6

2 -8 2

-1 5 .5

-1 5 .9

-1 7 .8

-1 2 .4

-1 6 .6

-1 9 .0

-2 3 .8

- 2 1 .0

-2 9 .8

-3 7 .3

8 .7

3 -8 2

-1 4 .2

-1 4 .6

-1 6 .2

-1 1 .1

-1 4 .7

-1 6 .5

-2 0 .2

-1 7 .2

-2 3 .2

-2 6 .7

4 .4

0 .4

4 -82

-1 4 .8

-1 5 .1

-1 6 .6

-1 2 .2

-1 5 .4

-1 7 .1

-2 0 .4

-1 7 .9

-2 2 .8

-2 5 .3

-4 .9

-1 1 .1

-2 1 .2

-1 3 .4

1 -8 3

-1 3 .4

-1 3 .6

-1 4 .9

-1 0 .5

2 -83

-8 .1

-8 .0

-8 .8

-4 .0

3 -8 3

-4 .2

-3 .8

-4 .3

4 -8 3

-4 .2

-3 .8

1 -8 4

-2 .6

-2 .1

2 -8 4

-2 .5

-2 .1

3-79

4 -79

-6 3 .8

1 0 6 .9
107 .0
100 .8
1 02.6

-1 4 .7

-1 7 .4

-1 4 .7

-1 8 .5

-1 9 .7

-2 .0

-5 .3

-8 .1

7 .3

—6 . 1

-6 .7

-8 .4

-4 .5

-6 .7

-5 .8

14.0

15.4

2 0 .9

4 9 .9

109 .3

0 .7

-1 .0

-1 .0

-2 .1

2 .3

1.1

3 .2

2 2 .9

2 5.9

3 3 .3

5 8.8

9 3 .2

-4 .3

0 .3

-1 .2

-1 .3

-2 .2

1 .7

0 .5

2 .2

1 8.6

20.3

2 4.8

4 0.0

5 2 .9

3 0.7

-4 .1

-2 .4

2 .1

0 .7

0 .8

0 .1

3 .9

3 .1

5 .0

1 9.9

2 1.6

2 5 .6

3 7 .9

4 6 .8

3 0.4

1 1.5

2 9 .8

-2 .4

1 .9

0 .6

0 .7

0 .0

3 .5

2 .8

4 .4

1 7.4

18.5

2 1 .4

3 0.5

3 5 .6

2 1 .7

7 .2

13.3

-1 .1

1-60

2 —8 0

3-80

1 -6 1

2 -61

3-81

4 -61

1 -8 2

2 -62

3 -82

4 -82

1 -83

2 -83

3 -6 3

4 -6 3

1 -84

4 -6 Ô

123 .4
1 42 .6

7 8.3

1 41.1
1 5 0 .6
1 50.2

TÏÏTTTÏTT<5OTffTÊîr
* NATIONAL

I N C O ME

BASIS

PftÉFAftÊb W P É K R Â ' L

SEPTEMBER 2 0 ,

ftÉSÊftVE

ÖÄNK öf-

1984

HISTORICAL SOURCES OF
NATIONAL INCOME AND PRODUCT ACCOUNTS DATA
The NIPA estimates for 1929-76 are in The National Income
and Product Accounts of the United States, 1929-76: S t a t is t ic a l
Tables (Stock number 003-010-00101-1, price $10.00). Estimates for
19//-'/9 and corrections for e a rlie r years are in the July 1982
SURVEY; estimates for 1980 and corrections for e a r lie r years are in
the July 1983 SURVEY; estimates for 1981-83 are in the July 1984
SURVEY. Estimates for the periods since, appear in subsequent issues
of the monthly Survey of Current Business. These publications are
available from the Superintendent of Documents, U.S. Government
Printing Office, Washington, D.C. 20402.
For further information, write to the National Income and
Wealth Division (BE-54) Bureau o f Economic Analysis, U.S. Department
of Commerce, Washington, D.C. 20230.




19

ST 7 ~IÖU 1
T

INVENTORIES

COMPARED WI TH MONTHLY S A L E S *

MANUFACTURING

AND

TRADE

. 68

68

.64

64

.60

60

.56

56
52

.48

48
44

.40

40

.36

36
32
28
24
1

* RAT I OS

BASED

SHADED

AREAS

LATEST

DATA




5

1

ON S E A S O N A L L Y
REPRESENT
PLOTTED:

ADJUSTED

PERIODS

J UL Y

OF

981

1
DATA.

BUSINESS

SOUR. CE:

1982

U . S . DEPARTMENT

1983
OF

1984

C OMME R C E

RECESSIONS.

PRELIMINARY
PREPARED

20

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

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