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National Economic Trends
September 1987
Personal consumption expenditures make up about two-thirds of the nation’s gross national product (GNP). The average
growth of real personal consumption expenditures and real GNP have been virtually identical during the current expansion;
since the fourth quarter of 1982, real personal consumption expenditures have grown at an annual rate of 4.1 percent,
compared with real GNP’s 4.2 percent rate. Despite their similar growth over the entire period, there have been important
differences in their growth patterns over the past four and one-half years. While the growth of reaK3NP declined fairly
steadily on a year-to-year basis until recently, real consumer spending growth had been more stable (see table). Since
the end of last year, however, the growth of real personal consumption expenditures has declined substantially, falling
to only a 0.6 percent rate.
Both the previous stability in the growth of real consumer spending and its recent slowing reflect the behavior of real
disposable personal income (personal income minus personal tax and nontax payments) over the expansion period. From
the fourth quarter of 1982 to the fourth quarter of last year, the average annual growth rate of real disposable income
and real consumer spending were similar (3.9 and 4.5 percent, respectively). Since then, real disposable income has fallen
at a 0.8 percent rate. This decline in real disposable income is associated with a recent acceleration in consumer prices.
The implicit price deflator for personal consumption expenditures has risen at an annual rate of 5.5 percent over the first
two quarters of this year, up substantially from its 1.7 percent increase last year. In contrast, nominal disposable personal
income has grown at a 4.6 percent rate this year, only slightly below last year’s 5.3 percent growth rate.

Growth of Real GNP, Real Personal Consumption Expenditures
and Real Disposable Personal Income
(compounded annual rates of change)

GNP
Personal consumption expenditures
Disposable personal income

3.4%
0.6
-0.8

IV/1985IV/1986

IV/1984IV/1985

IV/1983IV/1984

2.2%
4.1
3.6

IV/198611/1987

3.3%
4.5
2.8

5.1%
4.1
4.3

IV/1982
IV/1983
6.5%
5.4
5.1

—Courtenay C. Stone

THE
FEDERAL
RESERVE
RANK of
st . m u s

Views expressed do n o t necessarily re fle c t official positions o f th e Federal Reserve System.



TOTAL C I V I L IA H EMPLOYMENT
COMPOUNDED ANNUAL HATES OF CHANGE
IN IT IA L

___UERMINAL
1-R6

?-£<*»

3-S6

4-86

5-86

<S-ft6

7-86

8-86

MQMIH

9-ftA 10-86 11-86

12-86

1-87

2-87

3 -8 7

4-87

5-87

6-87

7-81

THOUS A NOS
OF PERSONS
_
108 * 557

2-86

- 3 *6

3-86

— *5
0

2 .8

4—
86

0 .3

2 .3

1 .8

5-86

0*8

2 .3

2 .0

2 .2

6—86

1*6

2 .9

3 .0

3 .6

5 .0

7-86

1 .8

3 .0

3 .0

3 .4

4 .0

3*0

8-86

1 .9

2*8

2*8

3*1

3 *3

2 .5

2 .0

9-86

1*5

2 .3

2 .2

2*3

2 .3

N4

0 .5

- 0 .9

10-86

1 .6

2 .3

2 .2

2 .3

2 .3

1 .6

1 .1

0 .7

1 i- 8 6

1 .7

2 .3

2 .2

2*3

2 .3

1 .8

1 .5

1*3

2*5

2 *6

12-86

1 .7

2 .3

2 .2

2 .3

2 .3

1 .9

1 .6

1*6

2*4

2 .4

1-87

1 .9

2 .5

2 .4

2 .5

2 .5

2 .2

2 .1

2*1

2 *8

108*807
108*969
109*165
109* 613
109*887
110*067
109*987
110*192

2 *3

110*432
110*637

2 .3
3 .2

4 .1

111*011
111*382

2-87

2. 1

2 .6

2 .6

2 .7

2 .7

2 .4

2 .3

2*4

3 .1

3 .5

4 .1

3-87

1 .9

2 .4

2 .4

2 .4

2 .4

2 .1

2 .0

2*0

2 .5

2 .6

2 .7

1 .9

- 0 .2

4-87

2 .2

2 .6

2 .6

2 .6

2 .7

2 .4

2 .4

2*4

2 .9

3. 1

3 .3

3 .0

2 .5

5 .1

5-87

2 .4

2 .9

2 .9

2 .9

3 .0

2 .8

2 .8

2*9

3 .4

3 .5

3 .7

4 .0

3 .9

3 .9

6 .0

6-87

2 .2

2 .5

2 .5

2 .6

2 .6

2 .4

2 .4

2*4

2 .8

2 .8

2 .9

2 .7

2 .4

3 .2

2 .3

- 2 .0

7-87

2 .3

2 .7

2 .7

2 .7

2 .8

2 .6

2 *6

2*6

3 .0

3 .1

3 .1

3 .3

3 .1

2 .9

3 .7

3 .2

1 .5

5 .1

2 .7

2 .7

2*7

3 .1

3 .2

3 .2

3 .3

3 .2

3 .1

3 .7

3 .4

2 .3

4 .5

3 .8

6-86

7-86

8-86

9-86

10-86 11-86

12-86

1-87

2-87

3-87

4-87

5-87

6—87

7-8?

2 .4

2 .8

2 .8

2 .8

1-86

8-87

2 .9

2-86

3-86

4-86

5-86

3 .3

4 .1

111*368
111*835
112*447

6 .8

112*257
112*727
113*081

PRÉPA RÉO BV ÉÉÓ ÉftÀL * E 5 E * V E BANK OF S T . L O U IS
SEPT EM BER 4* 1987_________________________________________

PAYROLL EMPLOYMENT
COHPOUHPEP ANNUAL R ATES OF CHANfeE
TERMINAL________________________________________________________________________ I N I T I A L MONTH__________________________________________________________________________ THOUSANDS
OF PERSO NS
MONTH
2-87
4-87
5-87
6-87
7-87
7-86
86
1-87
6-86
9-86 10-86 11-86 12—
3-87
8-86
2-86
3-96
4-36
5-3*
1-9*
2-86

98*914

1 .7

99*013

3-86

1 .4

1 .2

4-86

1 .9

2 .1

2 .9

5-86

1 .9

1 .9

2 .3

1 .7

6—86

1 .3

1 .2

1 .3

0 .4

-0*8

99*252
99*389
99*323
99*601

7-86

1 .7

1 .7

1 .8

1 .4

1 .3

3 .4

8-86

1 .7

1 .7

1 .8

1 *6

1*6

2 .7

2 .1

99*772
3*3

1 00*039

9-86

1 .9

2 .0

2 .1

1*9

2*0

2 .9

2 .7

10-86

1 .9

2 .0

2 .1

1*9

2*0

2 .7

2*5

2*7

2 .1

11-86

2 .0

2 .0

2 .1

2 *0

2*1

2 .7

2 *5

2*6

2 .3

2 .5

12-86

2 .0

2 .0

2 .1

2*0

2*0

2 .5

2*3

2*4

2 .1

2 .2

1-87

2 .2

2 .2

2 .3

2*2

2 *3

2 .8

2 *7

2 .7

2 .9

3 .0

4 .3

2-87

2 .2

2 .3

2 .4

2*3

2*4

2 .8

2 *7

2 .7

2 .8

3 .0

3 .5

2 .8

2 .2

2 .3

2 .3

2*3

2 *3

2 .7

2 *6

2 .7

2 *6

2 .T

2 .8

3 .1

2 .5

2 .8

3-87

100*209
100*415
100*567

1 .8

100*919
101*150
2 .1

101*329

4-87

2 .3

2 .3

2 *4

2 *4

2 .8

2 *7

2 .7

2 .8

2 .9

3 .1

2 .7

2 .7

3 .2

5-87

2 .2

2 .3

2*3

2 .3

2 .6

2 *5

2 .5

2 .6

2 .6

2 .7

2 .4

2 .2

2 .3

1 .3

6-87

2 .2

2 .2

2*2

2 .3

2 .5

2 *4

2 .4

2 .4

2 .4

2 .5

2 .2

2 .0

1 .9

1 .3

1 .3

7-87

2 .2

2 .3

2 *3

2 .3

2 .6

2 *5

2 .6

2 .5

2 .5

2 .5

2 .7

2 .4

2 .3

2 .3

2 .0

2 .4

3 .5

8-87

2 .2

2 .2

2 .3

2*3

2 .3

2 .5

2 *5

2 .5

2 .4

2 .5

2 .5

2 .6

2 .3

2 .2

2 .2

2 .0

2 .2

2 .7

1-86

2-86

3-86

4-86

5-86

6-86

7-86

8-86

9-86 10—
86 11-86

12-86

1-87

2-é?

3-è7

4 - Ì7

2 .3

101*598
101*708

5-éT

101*818
102 * 114P
1 .1

102*270P

6^-87 “"T-87

P- P R E L IM IN A R Y
PK E M K E ft BV FEDERAL RE S E I VE BAWK W- S I » LOUIS
______________________________________________________________ __________________________________SEPTEMBER 4 t 1987_________________________




2




E MP L O Y ME NT
RATIO

SCALE

M I L L I ONS

RATIO

OF

PERSONS

125
\
*
§

*

I

SEASONALLY

*

OF

PERSONS

*
$

*

$

H

125

I

*

♦
>

\

M I L L I ONS

ADJUSTED

1

SCALE

3

$

I 20

1 15

I 15
^ Î l î .

r

T O ! 1AiL
a

I 10

1 10

* 4 t7Y

105
+!

* / . 9Z

105

9X

+ . 5 Z ^
,!

100
-/.

- Ï.9 Z

^ K )2 .3

95

+ 4. t
+2,. oz

+2. 3Z

V *

100

oz

95

90

1

90

VJ

- }.? Z

85

80

75

85

PAYROLl

'k

$

$ *
t t

!
1979

1980

Ji
V
.

S
§
t

H
t

1981

1982

80

*

S
i
t

1983

$

t

1984

1985

1986

75

1987

SOURCE: U.S.DEPARTMENT OF LABOR
BEG INNING JANUARY 1986. TOTAL EMPLOYMENT OATA INCORPORATE NEI PROCEOURES FOR ESTIMATING
MEASURES OF IMMIGRATION AND EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT 0.3%.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS I NO ICATED.
LATEST DATA PLOTTED: AUGUST PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

U NE MP L OYME NT
SEASONALLY

PERCENT

RATE

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
1979

1980

1981

1982

1983

1984

1985

1986

1987

SOURCE: U .S. DEPARTMENT OF LABOR
PERCENT OF C IV IL IA N LABOR FORCE
LATEST DATA PLOTTED: AUGUST
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

3

CONSUMER P R IC E IN D EX FO * A LL URBAN CONSUMERS* SEASON ALLY A D JU S t^ b ”
_______________________ COMPOUNDED ANNUAL RATES OF CHANCE_____________
TERMINAL________________________________________________________________________ I N I T I A L M O N T H ___________________________ ________________________________
_
MONTH
7-87
4-87
9-86 10-86 11-86 12-86
6-87
6-86
7-86
3-87
3-86
4-86
5-86
8-86
1-87
2-87
5-87
1-86
2—
86
2-86

— 9
3*

3 2 7 .8

- 3 .2

>-86

1 9 6 7 «100

3 2 6 .5

- 4 .7

4-86

- 3 .7

- 4 .0

3 2 5 .6

- 3 .3

3 2 6 .4

5-86

- 2 .1

- 1 .7

- 0 .2

3 .0

6-86

- 0 .7

0 .0

1 .6

4 .1

5 .3

7-86

- 0 .5

0 .1

1 .3

2 .9

2 .8

3 2 7 .8
3 2 7 .9

0 .4

3 2 8 .4

8-86

- 0 .2

0 .4

1 .4

2 .6

2 .5

1 .1

1 .8

9-86

0 .3

0 .8

1 .8

2 .8

2 .8

2 .0

2 .8

3 .7

10-86

0 .5

1 .0

1*8

2 *7

2 .7

2 .0

2 .6

3 .0

3 2 9 .4
3 3 0 .0

2 .2

3 3 0 .8

11—
86

0 .8

1 .2

2 .0

2 .8

2 .7

2 .2

2 .7

3 .0

2 .6

2 .9

12-86

0 .9

1 .3

2 .0

2 .7

2 .6

2 .2

2 .6

2 .8

2 .5

2 .6

2 .2

1-87

1 .5

1 .9

2 .6

3 .3

3 .3

3 .1

3 .5

3 .8

3 .9

4 .4

5 .2

3 3 1 .4
8 .3

3 3 3 .6
3 3 5 .0

2-87

1.8

2 .2

2 .8

3 .5

3 .5

3 .3

3 .7

4 .1

4 .1

4 .6

5 .2

6 .7

5 .2

3—87

2 .0

2 .4

3 .0

3 .6

3 .7

3 .5

3 .9

4 .2

4 .3

4 .7

5 .2

6 .2

5 .1

5 .1

4—87

2 .2

2 .6

3 .2

3 .8

3 .8

3 .7

4 .1

4 .4

4 .5

4 .8

5 .2

6 .0

5 .3

5 .3

5 .5

5 .0

5 .6

4 .9

4 .9

4 .7

4 .0

5-87

2 .3

2 .7

3 .3

3 .8

3 .9

3 .7

4 .1

4 .3

4 .4

4 .7

3 3 6 .4
3 3 7 .9
3 3 9 .0

6-87

2 .5

2 .8

3 .3

3 .8

3 .9

3 .8

4 .1

4 .3

4 .4

4 .7

4 .9

5 .4

4 .8

4 .7

* .6

4 .2

4 .3

7-87

2 .5

2 .8

3 .3

3 .8

3 .8

3 .7

4 .0

4 .2

4 .2

4 .5

4 .7

5 .0

4 .5

4 .4

4 .2

3 .7

3 .6

2 .9

3 4 0 .2

8—87

2 .7

3 .0

3 .5

3 .9

4 .0

3 .9

4 .1

4 .3

4 .4

4 .6

4 .8

5 .1

4 .7

4 .6

4 .5

4 .2

4 .3

4 .3

5 .8

L-86

2-86

3-86

4-86

5-86

6-86

7-86

8-86

9-86 10-86 11-86

12-86

1-87

2 -8 7

3-87

4-87

5-87

6-87

7-87

3 4 1 .0
3 4 2 .6

I HI T
TXL~WORTH'

P REPA RED BY FED ERA L R E S E R V E BA NIT OF S T .
SEP T EM BER 2 3 t 1987_____________________

L U U IS

PRODUCER P R IC E IN D E X , F IN IS H E D COOOS - SEASON ALLY A D J U R E D *
________________COMPQUHOEO ANNUAL RATES OF CHANCE___________________
100

2-86

- 1 6 .5

2 9 1 .5

3-86

- 1 3 .4 - 1 0 .2

2 8 8 .9

+
I
C
D
<
y
>

TERMINAL________________________________________________________________________ I N I T I A L MONTH_______________________ __________________________________________________ 1967 »
MONTH
7-87
4-87
5-87
6-87
3-87
9- 86 10-86 11-86 12-86
1-87
2-87
6-86
7-86
8-86
1-86
2-86
3-86
4-86
5-86

- 1 1 .0

5-86

- 7 .0

-8. 1

- 0 .2

2 8 7 .4

-6. 1

- 3 .7

288*6

6 .0

2 8 9 .4

6-86

- 5 .2

- 2 .1

0 .7

4 .2

2 .5

7-86

- 5 .8

- 3 .5

- 1 .8

- 0 .3

- 3 .3

- 8 .8

8-86

- 4 .4

- 2 .2

- 0 .5

0 .9

- 0 .7

- 2 .3

2 8 7 .2
4 .7

2 8 8 .3
2 6 9 .1

9-86

- 3 .4

- 1 .4

0 .1

1 .4

0 .3

- 0 .4

4 .0

3 .4

10—86

- 2 .6

- 0 .7

0 .7

1 .9

1 .1

0 .7

4 .1

3 .8

.2

11-86

- 2 .3

—0 .6

0 .7

1 .7

1 .0

0 .7

3 .2

2 .7

.3

2 9 0 .1
0 .4

2 9 0 .2
2 9 0 .4

12-86

- 2 .0

- 0 .5

0 .7

1 .6

1 .0

0 .7

2 .7

2 .2

•8

0 .6

1-87

- 1 .4

0 .1

1 .2

2 .0

1 .5

1 .4

3 .2

2 .9

.7

2 .2

3 .1

5 .5

2-87

- 1 .2

0 .1

1 .1

1 .9

1 .4

1 .3

2 .8

2 .5

.3

1 .9

2 .4

3 .1

0 .8

3-87

- 0 .7

0 .6

1 .6

2 .3

2 .0

1 .9

3 .3

3 .1

.1

2 .8

3 .5

4 .3

3 .8

6 .8

4-87

- 0 .2

1 .1

2 .0

2 .7

2 .4

2 .4

3 .7

3 .6

.6

3 .5

4 .1

4 .9

4 .7

6 .8

6 .7

5-87

0 .1

1 .3

2 .2

2 .8

2 .6

2 .6

3 .8

3 .7

.7

3 .6

4 .2

4 .9

4 .7

6 .0

5 .6

4 .6

1 .4

2 .2

2 .8

2 .6

2 .6

3 .7

3 .6

.6

3 .5

4 .0

4 .5

4 .3

5 .2

4 .7

3 .7

2 .9

6-87

0 .2

0 .8

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

7-87

0 .3

1 .4

2 .2

2 .8

2 .5

2 .5

3 .6

3 .4

.5

3 *4

3 .7

4 .2

3 .9

4 .6

4. 0

3 .2

2 .5

2 .0

8-87

0 .3

1 .3

2 .1

2 .6

2 .4

2 .4

3 .3

3 .2

.1

3 .0

3 .3

3 .6

3 .4

3 .8

3 .2

2 .4

1 .6

1 .0

0 .0

1-86

2-86

3-86

4-86

5-86

6-86

7-86

8-86

9- 86 10-86 11-86

12-86

1-87

2-87

3-87

*-87

5-87

6—
87

7—
67

»DATA FOR FOUR MONTHS AfrO R E V IS E D




2 9 7 .4
2 9 7 .4

TO R E F L E C T LA TE R EPO R T IN G

PR E P A R E D BY F ED ER A L R E S E R V E BAN* W* 5 1.
SE P T E M B ER l i t 19ST_______________________

4

L O U IS




RATIO

PRICES

SCALE

1967-100

RATIO

SEASONALLY ADJUSTED

SCALE

1967-100

CONSUMER P R IC E IN DEX I S FOR ALL URBAN CONSUMERS ( C P I - U ) .
C P I- U DATA BEG I NNI NG 1983 INCORPORATE A RENTAL EQ U IVA LEN C E MEASURE FOR HOMEOWNERSHIP CO STS.
PERC EN TAG ES ARE ANNUAL RA TES OF CHANGE FOR P E R IO D S
LA TEST

DATA PLO T TED .

IN D IC A T E D .

AUGUST
PR EPA RED BY FED ERAL

RATIO

PRODUCER

SCALE

PRICES

PERC EN TAG ES ARE ANNUAL R ATES OF CHANGE FOR PE R IO D S
L A TEST DATA PLO T TED :

RESERVE

BANK Of S T .

L O U IS

RATIO

SCALE

IN D IC A T E D .

AUGUST
PR EPA RED BY F ED E R A t

5

RESERVE

BANK OF S T .

L O U IS

in o t x , ? l N f i > # 6 t W m t k I M b i - “ ¿E A M HA ILV A6JuT TE6T '
COMPOUNDED ANNUAL R A T ES OF CHANCE
IN IT IA L

TERMINAL
MONTH
1-86

2-86

3-86

4-86

5—
86

6- 86

7-86

8-86

______________________

MONTH

9-86 10-86 11-86

12-86

1-87

2-87

3-87

4-87

5-87

6-87

7-87
270*0

2-06

-15* I

3-86

- 6 .8

2 .2

4-86

- 2 .9

3 .8

5 .5

5-86

2 .0

8 .4

1 1 .6

1 8.1

6-86

1 .9

6 .7

8 .2

9 .6

2 7 0 .5
2 7 1 .7
2 7 5 .5
2 7 5 .9

1 .8

2 T 9 .6

7-86

4 .4

8 .7

1 0 .4

1 2 .1

9 .3

17 3

0-86

6 .2

1 0 .2

1 1 .9

1 3 .6

1 2 .1

17 7

1 8 .1

9-86

5 .3

8 .6

9 .7

1 0 .6

8 .7

11 2

8 .2

10—86

6 .0

9 .0

1 0 .0

1 0 .7

9 .3

11 3

9 .3

5 .2

1 1 .6

11-86

5. 1

7 .6

8 .3

8 .7

7 .2

8 4

6 .2

2 .6

4 .3

- 2 .5

12-86

4 .1

6 .3

6 .7

6 .9

5 .3

6 0

3 .8

0 .5

1 .0

- 3 *9

- 5 .3

2 8 3 .5
2 8 3 .3

- 0 .8

2 8 5 .9
2 8 5 .3
2 8 4 .0
2 7 9 .0

1-87

1 .9

3 .6

3 .8

3 .6

1 .9

1 9

- 0 .4

- 3 .8

- 4 .5

- 9 .3

- 1 2 .5

- 1 9 .2

2-87

1 .7

3 .3

3 .4

3 .1

1 .6

1 6

- 0 .5

- 3 .3

- 3 .8

- 7 .3

- 8 .8

- 1 0 .5

- 0 .9

3-87

1 .7

3. 1

3 .2

3 .0

1 .6

I

5

- 0 .3

- 2 .6

- 2 .9

- 5 .6

— .4
6

- 6 .7

0 .2

4—87

2 .7

4 .1

4 .3

4 .2

3 .0

3 1

1 .7

- 0 .2

— . 1
0

- 1 .9

- 1 .8

- 0 .9

6 .0

9 .6

1 8 .6

5-07

3 .6

5 .0

5 .2

5 .2

4 .2

4 4

3 .2

1 .7

2 .0

0 .7

1 .3

2 .6

9 .0

1 2 .5

1 8 .5

1 8 .3

6-87

3 .8

5. 1

5 .3

5 .3

4 .4

4 6

3 .5

2 .2

2 .5

1 .4

2 .0

3 .3

8 .5

1 0 .9

1 4 .3

12 .2

6 .5
- 0 .2

2 79 .1

1 .3

2 83 .1
2 8 7 .1

0 .9

1 .8

5 .8

7 .2

8 .7

5 .6

- 0 .9

- 0 .4

2 .7

3 .3

3 .6

0 .2

- 5 .2

10-86 1 1-56

12—
86

1-87

2-87

3-87

4-87

■ -3 I
>

7-87

3 .2

4 .4

4 ,5

4 .5

3 .6

3 7

2 .6

1 .3

1 .6

0 .5

8-87

2 .2

3 .3

3 .3

3 .2

2 .3

2 3

1 .2

- 0 .1

0 .0

- I.1

1-86

2-66

V -S6

5-Si»

¿>-i&6

7-86

8-86

9-86

»DATA FOR FOUR MONTHS ACO R E V IS E D

2 7 8 .8

2 8 8 .6
2 8 7 .0

- 6 .5
—
10*5 - 1 4 .4

6-5 7

2 8 3 .3

7-0 f

TO R EF L E C T LA TE R EPO R T IN G

PR EP A R ED BY FED ERA E R ESE R V E
SEPT EM BER l i t 1987

BAKU. OF S I .

L O U IS

PRODUCER P R IC E IN D E X , F IN IS H E D COODS, EXC LUD IN G FOODS - SEASON ALLY A O JU S tE D »
______________________________COMPOUNDED ANNUAL RATES OF CHANCE__________________________________
IN IT IA L
1-06

2-86

3-86

*- 0 6

5-06

6-06

7-86

8-86

9-86

100

MONTH

10-86 11-86

12-86

1-87

2-87

3-87

4-87

5-87

6-8 7

7-87
2 9 6 .4

2-86

- 1 6 .9

3-86

- 1 5 .4

4-86

- 1 3 .5 - 1 1 .7

- 9 .4

2 9 2 .7

- 1 4 .0

2 9 0 .3
2 9 0 .9

5-86

- 9 .7

- 7 .2

- 3 .6

2 .5

6—86

- 7 .4

- 4 .9

- 1 .6

2 .5

7-86

- 9 .0

- 7 .4

- 5 .6

— .3
4

- 7 . 6 - 1 6 .7

8-86

- 7 .7

- 6 .1

- 4 .5

- 3 .2

- 5 .0

- 0 .5

0 .4

9-86

- 6 .2

- 4 .6

- 2 .9

- 1 .6

- 2 .6

- 4 .2

2 .7

5 .1

- 5 .4

- 3 .0

- 2 .3

- 1 .0

- 1 .7

- 2 .8

2 .4

3 .4

10-86

2 9 1 .5

2 .5

2 8 7 .1
2 8 7 .2
2 8 8 .4
2 8 8 .8

1 .7

2 8 9 .3

- 4 .6

- 3 .2

- 1 .7

— .6
0

- 1 .1

- 1 .8

2 .3

3 .0

1 .9

2 .1

12-86

- 4 .0

- 2 .6

- 1 .3

- 0 .2

- 0 .6

- l.l

2 .4

2 .8

2 .1

2 .3

2 .5

1-87

- 2 .5

- l.l

0 .3

1 .4

1 .3

l.l

4 .4

5 .3

5 .3

6 .5

8 .8

1 5 .5

4 .0

4 .6

4# 6

5 .3

6 .4

8 .3

1 .6

5 .2

5 .3

6 .0

7 .0

8 .5

5 .2

8 .9

4 .9

4 .9

5 .5

6 .2

7 .1

4 .4

5 .9

»*
C
O
1
<I
N

11-86

- 2 .2

- 0 .9

0 .4

1 .4

1 .3

1 .2

3-87

- 1 .5

- 0 .2

1 .1

2 .1

2 .1

2 .0

4-87

- 1 .2

0 .1

1 .2

2 .2

2 .1

2 .1

4 .4

2 8 9 .9
293*4
2 93*8
2 9 5 .9
2 .9

2 9 6 .6

5-87

- 1 .1

0 .1

1 .1

2 .0

2 .0

1 .9

4 .0

4 .4

4 .3

4 .7

5 .1

5 .6

3 .3

3 .9

1 .4

0 .0

6-87

- 0 .9

0 .2

1 .2

2 .0

2 .0

1 .9

3 .8

4 .2

4 .0

4 .3

4 .7

5 .0

3 .1

3 .4

1 .6

i.O

2 .0

7-87

— .6
0

0 .5

1 .4

2 .2

2 .2

2 .2

3 .9

4 .2

4 .1

4 .4

4 .7

5 .0

3 .4

3 .7

2 .5

2 .3

3 .5

5 .0

4 .5

4 .8

5 .1

3 .7

4 .1

3 .1

3 .2

4 .2

5 .4

5 .8

10—
B6 11-86

12-86

1-87

2-87

3-87

4-8 7

5-87

6-87

7-87

- 0 .3

0 .7

1 .7

2 .4

2 .4

2 .4

4 .0

4 .4

4 .3

1-06

8-87

2-06

i- 6 6

4 -S6

5-66

6-86

7-86

8-86

9—
86

»PATA FOR FOUR MONTHS ACO R E V IS E D




IN II1 A L
TO R E F L E C T LA TE R EP O R T IN C

2 9 6 .6
297*1
298*3
299*7

MUNIH

PR E P A R E D BT FE D E R A L R E g l T T BA H * OF ~ ♦ LU U 1 S
ST
SE P T E M B ER l l t 1987

6

INDUSTRIAL
RATIO

PRODUCTION

SCALE

RATIO

1977-100

SEASONALLY ADJUSTED

SCALE

1 9 7 7- 1 00

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

IN D U S T R IA L PRODUCTION
_________________________________ COMPOUNOEP ANNUAL R ATES O f CHANCE_________________________________
TERM INA L________________________________________________________________________ I N I T I A L MONTH_________________________________________________________________________ 19T7 «
MONTH
7-87
4-87
5-87
6-87
3-87
1-87
2-87
9-86 10-86 11-86 12-86
8-86
7-86
4—
86
5—
86
6-86
1-86
2-86
3-86
2-86
3-86
4-86

1 25 .3

- 8 .2

1 23 .6

- 1 1 .7 - 1 5 .1
- 4 .7

- 2 .8

124 .7

1 1 .2

124*2

5-86

- 4 .7

- 3 .5

2 .9

- 4 .7

6-86

- 3 .8

- 2 .6

2 .0

- 2 .4

0 .0

7-86

- 2 .0

- 0 .8

3 .2

0 .6

3 .4

7 .0

8-86

- 1 .5

- 0 .3

2 .9

1 .0

2 .9

4 .4

1 .9

9-86

- 1 .5

— . 5
0

2 .1

0 .4

1 .7

2 .3

0 .0

- 1 .9

1*3

1 .0

3 .9

2 .7

2 .9

5 .4

6.

1 24.2
1 24 .9
125.1
1 24.9

- 0 .9

0 .0

2 .4

1 .0

2 .1

2 .7

11-86

- 0 .2

0 .7

2 .9

1 .8

2 .9

3 .5

12-86

0 .4

1 .3

3 .4

2 .4

3 .5

4 .1

3 .5

3 .9

5 .9

6.

6 .9

T
C
D

1 25 .3

10-86

0 .2

1 .0

2 .8

1 .9

2 .8

3 .2

2 .6

2 .7

3 .9

3.

2 .4

2-87

0 .7

1 .5

3—87

0 .7

1 .5

4-87

0 .8

1 .4

3 .3

2 .7

5-87
6-87

1 .3
1 .7

100

2 .0
2 .3

3 .0

2 .3

3 .0

3 .3

2 .9

3 .0

2 .2

2 .8

3 .1

2 .7

2 .8

3 .6

3 .1

3 .7

4 .0

3 .5

1 26 .5
127 .2

6 .8

2 .4

3.

3 .1

1 .9

3 .9

0 .9

3.

3 .5

3 .4

126.7
- 1 .9

3 .9

2 .7

1 .7

2 .9

0 .9

0 .9

3 .8

3 .3

4 .6

3 .8

5 .3
6. 1

8 .8

7 .7

4.

3 .9

2 .8

3 .7

3 .2

4 .5

3 .2

3 .4

3 .6

3 .4

2 .4

3 .2

1 26.0

4 .2

4.

3 .8

3 .9

4 .6

4.

4 .4

4 .0

5 .2

4 .8

1 27 .3
1 27 .4
1 28 .4

9 .8

129 .2

7-87

2 .2

2 .8

4 .0

3 .6

4 .2

4 .5

4 .3

4 .5

5 .2

5.

5 .2

4 .9

6 .1

5 .9

7 .2

9 .4

9 .2

1 0 .7

8-87

2 .2

2 .9

4 .0

3 .6

4 .2

4 .5

4 .3

4 .5

5 .1

5.

5 .0

4 .8

5 .8

5 .6

6 .5

8*0

7 .4

7 .2

3 .7

1-86

2-86

3-86

4-86

5-86

6-Ô6

7-06

d '- é6 " <>-06 IÔ -8

I l -8 6

12-86

1-87

2-67

3-87

4-87

5-87

6-87

r-8 7

p- p r e l i m i n a r y

1 3 0 .3P
1 3 0 .7 P

"

---------------------------------- ------------------------------------------------------------------------- PREPA RED BY FED ERA L R ES E R V E BANK OF ST « L O U IS
___________
_______________________
______________ SE P T E M BER 15» 1967_______________________________________




7

PERSONAL
RATIO

SCALE

TRILLIONS

I NCOME

MONTHLY TOTALS AT ANNUAL RATES

OF

DOLLARS

SEASONALLY ADJUSTED

RATIO
T R I L L I ONS

OF

SCALE

DOLLARS

4.

4.0

3

8

3.

3.6

3

4

3.

3.2

3

0

2.

2. 8

2 *

2.6

2

4

2 .

2. 2

2.

2.0

1979

1980

1981

1982

1983

1984

1985

SOURCE.
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PER IO O S
LATEST DATA PLOTTEDt

U .S .

1986

1987

DEPARTMENT OF COMMERCE

INDICATED.

AUGUST PR ELIM IN A R Y
PREPARED BY FEDERAL RESER VE BANK OF ST .

LO U IS

PERSO NAL I MCONE
COMPOUNDED ANNUAL R ATES OF CHANCE

B ILLIO N S OF
TERM INAL________________________________________________________________ _______ I N I T I A L NONTH_____________________________ __________________________________________ DO LLARS
ANNUAL RATES
MONTH
6-87
7-87
2-87
3-87
4-87
5-87
3-86
6-86
7-86
9-06 10-86 11-86 12-86
1—
87
5-86
8-86
4-86
2-86
3 4 6 3 .8

2-86

7*0

3-86

6 .7

6 .5

V—86

9 .8

1 1 .2

3 4 8 2 .1
1 6 .1

3 5 2 5 .8
3 5 2 5 .9

5-86

7 .3

7 .4

7 .8

0 .0

6-86

5 .9

5 .7

5 .4

0 .4

0 .8

7-86

5 .6

5 .4

5 .1

1 .7

2 .5

3 5 2 8 .1
4 .2

3 5 4 0 .3
3 5 5 2 .9

8-86

5 .5

5 .2

4 .9

2 .3

3 .1

4 .3

4 .4

9-86

5 .4

5 .2

5 .0

2 .9

3 .6

4 .5

4 .7

5 .0

10-86

5 .2

5 .0

4 .7

3 .0

3 .5

4 .3

4 .3

4 .2

3 .4

3 5 7 7 .5
4 .4

3 5 9 0 .3

3 5 6 7 .5

11-86

5 .1

4 .9

4 .7

3 .2

3 .7

4 .3

4 .3

4 .3

3 .9

12-86

5 .4

5 .2

5 .0

3 .7

4 .3

4 .9

5 .0

5 .2

5 .2

6 .1

7 .9

1-87

5 .4

5 .3

5 .2

4 .0

4 .5

5 .1

5 .2

5 .4

5 .5

6 .2

7 .1

6 .3

2-87

6 .1

6 .0

5 .9

5 .0

5 .5

6 .1

6 .6

7 .1

8 .1

9 .3

1 0 .1

1 3 .9

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

3—87

5 .9

5 .8

5 .8

4 .9

5 .4

5 .9

6* 1

6 .4

6 .6

7 .3

8 .0

8 .0

8 .9

4 .1

4-87

5 .9

5 .9

5 .8

5 .0

5 .5

5 .9

6 .1

6 .4

6 .5

7 .1

7 .6

7 .6

8 .0

5 .1

6 .2

5-87

5 .7

5 .6

5 .5

4 .8

5 .2

5 .6

5 .7

5 .9

6 .0

6# %

6 .7

6 .5

6 .5

4 .1

4 .2

2 .2

3 683 *4
3 7 0 1 .9
3 7 08*5

6-87

5 .5

5 .4

5 .3

4 .6

4 .9

5 .3

5 .4

5 .5

5 .6

5 .8

6 .0

5 .7

5 .6

3 .6

3 .5

2 .2

2 .2

7-87

5 .5

5 .4

5 .3

4 .7

5 .0

5 .3

5 .4

5 .5

5 .6

5 .8

6 .0

5 .7

5 .6

4 .0

4 .0

3 .3

3 .9

5 *6

8-87

5 .5

5 .4

5 .4

4 .7

5 .0

5 .4

5 .5

5 .5

5 .6

5 .8

6 .0

5 .7

5 .6

4 .3

4 .4

3 .9

4 .5

5 .7

5 .8

1-86

2-86

3-86

4-06

5—86

6-86

7-86

8-86

9-86

10—
86

11-86

12-86

1-Ö7

2-87

3-87

4-87

5-87

6 -87

7-87

P- ¿ k Ë O H I M M Ÿ ------- ----- — ----- ----------------- _______




"

“

3 715*3
3 732*3
3 7 4 9 .8 P

-------------

P R E P A R E D BY FED ERA L R E S E * V E ~ BAJt* Uh S T» U J U I5
__________________________________________________________________________ SEPTEM BER 2 1 , 198T_________ ______________

8

RETAIL
RATIO

SALES

SCALE

BILLIONS

OF

1979

RATIO
DOLLARS

1980

BILLIONS

SEASONALLY ADJUSTED

1981

1982

1983

1984
SOURCE:

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER IO D S
LATEST DATA PLOTTEDt

JU L Y ,

1985
U .S .

OF

1986

SCALE

DOLLARS

1987

DEPARTMENT OF COMMERCE

IN D ICATED .

AUGUST ADVANCE ESTIM ATE
PREPARED BY FEDERAL R ESER VE BANK OF ST .

---------------k i n a

LO U IS

5 Â L É *-------------

COMPOUHOEO ANNUAL RATES OF CHANCE
IN IT IA L

T ER M IH A L
MONTH

2-86

M IL L IO N S OF

MONTH

DOLLARS
1-86

2-86

3-86

4-86

5-86

6-86

7-86

8-66

9-66 10-66 11—
86

12-66

1-67

2-67

3-87

4-87

5-87

6-67

7-67

- 7 .8

117*590
117*259

3-86

- 5 .6

- 3 .3

4-86

- 0 .9

2 .7

9 .1

5-86

2. 8

6 .7

1 2 .1

1 5 .1

6-86

2*5

5 .2

8 .2

7 .8

1 .0

118* 113
119*507
119*605
120*476

7-86

3 .6

6 .0

8 .5

8 .3

5 .0

9 .1

8-86

5 .0

7 .4

9 .6

9 .8

8 .0

1 1 .7

1 4 .4

9-86

1 3 .7

1 7 .1

2 0 .9

2 3 .5

2 5 .6

3 5 .1

5 0 .4

9 7 .6

10-86

4 .2

5 .8

7 .2

6 .9

5 .3

6#^

5 .6

1 .4

- 4 8 .0

121-* 839
128*952
122*121
121*678

11-86

3 .3

4 .7

5 .7

5 .2

3 .7

4 .2

3 .0

- 0 .5

- 2 9 *4

- 4 .3

12-86

8 .5

1 0 .3

1 1 .9

1 2 .3

1 1 .9

1 3 .8

1 4 .6

1 4 .9

- 4 .1

3 0 .2

7 7 .1

1-87

0 .2

0 .9

1 .4

0 .5

- 1 .2

- 1 .5

- 3 .1

- 6 .3

- 2 2 .2 - 1 1 .1

- 1 4 .3

127*613
118*579

- 5 8 .6

124*280

2-87

4 .6

5 .7

6 .5

6 .3

5 .4

5 .9

5 .5

4 .0

- 8 .5

5 .4

6 *8 - 1 4 .7

7 5 .7

3-87

4 .5

5 .5

6 .3

6 .0

5 .1

5 .6

5 .2

3 .9

- 6 .6

4 .9

7 .4

- 9 .1

3 4 .6

3 .1

4—87

4 .4

5 .3

6 .0

5 ,8

5 .0

5 .4

5 .0

3 .9

- 5 .2

4 .7

6 .6

- 6 .1

2 3 .3

3 .3

124*593
I2 4 t9 6 0

3 .6

5-87

4 .1

4 .9

5 .5

5 .3

4 .5

4 .8

4 .4

3 .3

— .7
4

3 .9

5 .3

- 5 .1

1 6 .8

1 .9

1 .3

- 0 .9

6-87

4 .7

5 .5

6 .1

5 .9

5 .2

5 .6

5 .3

4 .4

- 2 .7

5 .2

6 .6

- 2 .0

1 6 .4

5 .0

5 .6

6 .6

f0
0
1

4 .8

5 .6

6 .2

6 .0

5 .3

5 .7

5 .4

4 .6

- 1 .8

5 .4

6 .6

- 0 .8

1 4 .7

5 .3

5 .9

6 .7

1 0 .6

6 .7

6 .4

6 .2

5 .6

- 0 .3

9 .0

1 2 .5

1 1 .4

1 6 .4

6—86

7-86

8-86

9-86

4-87

5-67

6-87

r—
67

5 .4

6 .2

6 .7

6 .6

1-86

8-87

6 .0

2-86

5-86

4-86

5-86

7 .7

1 .2

1 4 .9

7 .1

7 .9

10-86 11-86

12-66

l- § 7

2-87

3-87

6 .4

I2 4 t 867
1 4 .8

126*307
126*990P
128*6075

I HI 11 AL HUNTW
"F- "P R E L IM IN A R Y
E - E ST IM A T ED




PR EPA R ED BY FED ERA L R E S E R V E BANK, UF S I .
SE P T E M B ER 15» 1987

9

L O U IS

itó u ftiv t m k ü á k f i ó k t m w $ ì ¿ k w t
COMPOUNDED ANNUAL R A T ES O f CHANGE
1977-100

0
0
1
<l
\

TERM INAL_______________________________________ ______________________________
I N I T I A L QUARTER___________________________________________________________________
QUARTER
1-87
1-86
3-86
4-66
2-86
4-85
3—84
1-85
2—
65
3-65
4-84
1-84
2-84
3-8 3 4-83
3-82
4-82
1-83

1 5 8 .3

4-82

4*4

1-83

4 .1

3 .8

2-83

3 .6

3 .2

3-83

3 .1

2 .6

2 .0

1 .5

4-83

3 .6

3 .3

3 .2

3 .5

5 .6

1-84

3 .9

3 .8

3 .8

4 .2

5 .5

2-84

3 .7

3 .6

3 .5

4 .6

4 .1

2 .7

3-84

3 .8

3 .7

3 .7

3 .9

4. 5

4 .2

3 .5

1 5 9 .6
1 60 .8

2 .5

1 6 1 .4
1 6 3 .6
165«6

5 .5

1 6 6 .9
4 .4

1 6 8 .7
1 7 0 .3

4-84

3 .8

3 .7

3 .7

3 .9

4 .4

4 .1

3 .6

4 .1

3 .8

1-85

3 .9

3 .9

3 .9

4 .1

4 .5

4 .3

4 .0

4 .4

4 .4

5 .0

2-85

4 .0

4 .0

4 .0

4 .6

4 .4

4 .2

4 .6

4 .7

5 .1

5 .2

3-85

4 .2

4 .1

4 .2

4 .4

4 .7

4 .6

4 .5

4 .8

4 .9

5 .3

5 .4

4-85

4 .3

4 .2

4 .3

4 .8

4 .7

4 .6

4 .9

5 .0

5 .3

5 .4

5 .5

1-86

4 .2

4 .2

4 .2

4 .3

4 .6

4 .5

4 .4

4 .6

4 .7

4 .9

4 .8

4 .7

2-86

4 .1

4. 1

4 .1

4 .3

4 .5

4 .4

4 .3

4 .5

4 .5

b •6

4 .5

4 .4

3-86

4 .1

4 .0

4 .0

4 .4

4 .3

4-86

4 .0

4 .0

4 .0

4 .1

4 .3

1-87

3 .9

3 .8

3 .8

3 .9

4 .1

3 .8

3 .8

3 .8

3-82

2-87

3 .9

4-82

1-83

2-83

1 7 2 .4
1 7 4 .6
177*0

5 .6

1 7 9 .3

5 .3

1 8 0 .7

3 .2
3 .9

3 .3

1 8 2 .2

3 .4

4 .2

4 .3

4 .3

4 .4

4 .3

4 .1

3 .7

3 .2

3 .2

4 .2

4 .2

4 .3

4 .2

4 .0

3 .7

3 .3

3 .3

3 .3

3 .3

1 8 3 .6

3 .1

4 .1
3 .9

3 .9

3 .9

3 .8

3 .6

4 .0

3 .9

3 .8

3 .9

3 .9

3 .8

4-83

1-84

3-84

4-84

1—
85

2—
65

2-84

165 *2

3-95

2 .9

2 .8

2 .6

2 .4

1 .3

3 .0

3 *6

3-33

3 .5

2 .9

2 .0

2 .7

2 .3

4-85

1-86

Z—
86

3-86

4-86

1 6 5 .8
3 .3

1 6 7 .3

1-8 1

I N I 11 AL UUAKIfcR

P R EPA R ED BT FED ER A L R E S E R V E BAM*. Uh ST * "LOUTS
AUGUST 27» 1987__________________________________________

OUTPUT P ER HOUR OF ALL PER SO N S* B U S IN E S S SECTOR
__________ COMPOUNDED ANNUAL R A T ES OF CHANGE__________
TERM INAL________________________________________________________________________ I N I T I A L QUARTER_______________________________________________________________________ 1977-100
QUARTER
3-86
4—
66
1-87
4-65
1-86
2-86
2-65
3-65
3-84
1-85
3-82
4-82
1-83
2-83
3-83
4-83
1-84
? -94
4-94
4-82

1 0 1 .0

3 .2

1 0 1 .9

1-83

3 .4

3 .6

2-63

4 .3

4 .8

6 .0

3-83

2 .8

2 .6

2 .2

4-83

2 .8

2 .7

2 .4

1-84

3 .2

3 .2

3 .1

2 .2

4 .1

5 .5

2-84

3 .0

3 .0

2 .9

2 .1

3 .4

3 .7

1 0 3 .4
1 0 3 .0

—1 .5

1 0 3 .7

2 .7

■
+
«0
1

2 .6

2 .5

2 .3

1 .6

2 .4

2 .5

2 .4

2 .2

1*6

2 .2

2 .1

1-85

2 .5

2 .4

2 .2

1 .7

2 .3

-

2 .4

2 .3

2 .6

2 .5

2 .4

4-85

2 .3

2 .2

2 .1

1 .7

2 .6

2 .5

2 .4

2 .1

2 .5

2-86

2 .4

2 .4

2 .3

2 .3

3-86

2 .3

2 .2

2 .1
1 .7

2 .3

1 06 .5

1 .6

2 .2

2 .5

2 .7

2 .6

2 .9

3 .2

3 .8

1 .5

1 .8

1 .9

1 .8

1 .3

- l.l

2 .4

2 .1

2 .5

2 .7

2 .6

2 .9

2 .4

6 .1

2 .3

1 .9

2 .3

2 .4

2 .4

2 .3

1 .9

3 .4

0 .7

1 .7

1 .9

2 .0

1 .9

1 .6

1 .3

2 .1

0 .2

— .4
0

1 .9

1 .5

1 .7

1 .7

1 .7

1 .5

1 .0

1 .6

0 .1

— . 2
0

2 .3
2 .5

2 .1
1 .9

1 .9

2 .0

2 .1

1-86

1 .3

1 0 5 .9

1 .5

1 0 7 .2
1 0 6 .2
107*9
1 0 9 .5

4-86

2 .1

2 .1

2 .0

1-87

2 .0

2 .0

1 .9

1 .6

l.T

1 .4

1 .6

1 .6

1 .5

1 .3

0 .9

1 .3

0 .2

2-87

2 .0

1 .9

1 .8

1 .6

1 .7

1 .4

1 .5

1 .5

1 .4

1 .3

0 .9

1 .3

0 .4

3-82

4-82

1-83

2-83

4-83

1-84

3-8 4

4-84

1-85

2—
85

3-85

4 -8 5

1-86




3-83

2 -84

1 0 9 .7
1 0 9 .6
1 0 9 .6

o
o

2 .5

3-85

1 0 5 .5

0 .4

1 .0

o
«
o

2-85

1 0 5 .6

1 .9

2 .3

4-84

1 0 5 .1

0 .2

0 .4

0 .3

0 .5

0 .7

l.l

2 -86

3-86

4-86

1—
87

1 0 9 .7
iiO .O

IM I I1 A L W A R 1feR

P R EP A R ED B T F E D E R A L R E S E R V E BANR Uh S T¿ LUU15
AUGUST 27» 1967_________________________

10

PRODUCTIVITY,
RATIO

COMPENSATION,

AND LABOR COSTS

SCALE

RATIO

1977-100

1979

1980

1981

1982

1983

1984

1985
SOURCEt

PERC EN T A G ES ARE ANNUAL R ATES OF CHANGE FOR PE R IO D S
L A TEST

DATA PLO T TED .

SCALE

1977 -10 0

SEASONALLY ADJUSTED

U .S .

1986

1987

DEPARTMENT

OF LABOR

IN D IC A TED .

2ND QUARTER
PR EPA RED I Y

FED EA A t R E S t R V E BANK Of

ST.

L O U IS

------------------- u n tY LABOR c o s t s , ¿ u s t l f e « " S H 'T B R ---------------------______________________ COWPQUNOED ANNUAL R ATES O f CHANCE__________________________

C
D
1
fO

T ER M IN A L________________________________________________________________________ IN I T I A L QUARTER__________________________ _____________ _____________ _________________1977*100
QUARTER
1-87
4-8 6
1-85
4-8 5
1-86
2—
86
3-86
2-85
3-85
4-84
3-8 2 4-8 2 l- i83
2-83
3-83
4-83
1-84
2-84
1 5 6 .8

4-82

1 .5

1-83

0 .8

2-83

— .6
0

- 1 .7

-3 3

3-83

0 .3

- 0 .1

-0

4—83

0 .8

1 5 6 .8

0 .0

1 5 5 .5
1 5 6 .7

1

3 .1

0 .6

0 8

2 .8

2 .6

1 5 7 .7
1 5 7 .8

1-84

0 .7

0 .5

0 6

2 .0

1 .4

0 .3

2-84

0 .7

0 .5

0 6

1 .6

l.l

0 .4

0 .5

1 .1

3

2 .3

2 .0

1 .9

2 .7

I

1 5 8 .0
1 5 9 .9

4 .9

3-84

1 .2

4-84

1 .3

1 .3

1 4

2 .3

2 .1

2 .0

2 .5

3 .6

2 .3

1-85

1 .4

1 .4

1 6

2 .3

2 .2

2 .1

2 .6

3 .3

2 .5

2 .8

2-85

1 .5

1 .5

1 7

2 .3

2 .2

2 .1

2 .5

3 .0

2 .4

2 .5

1 6 0 .8
1 6 1 .9
1 6 2 .8

2 .2

1 63 *6

3-85

1 .6

1 .6

I

7

2 .3

2 .2

2 .1

2 .4

2 .8

2 .3

2 .3

2 .1

2 .0

4—85

1 .9

1 .9

2 1

2 .7

2 .6

2 .6

3 .0

3 .4

3 .1

3 .3

3 .5

4 .1

6 .3

1-86

1 .6

1 .6

1 7

2 .2

2 .1

2 .0

2 .3

2 .5

2 .1

2 .1

1 .9

1 .8

1 .7

- 2 .6

2-86

1 .7

1 .7

I

8

2 .2

2 .2

2 .1

2 *3

2 .6

2 .2

2 .2

2 .1

2 .1

2 .1

0 .1

2 .9

3-86

1 .8

1 .8

1 9

2 .3

2 .2

2 .2

2 .4

2 .6

2 .3

2 .4

2 .3

2 .3

2 .4

1 .1

3 .1

3 .2

4-86

1 .9

1 .9

2 0

2 .4

2 .4

2 .3

2 .5

2 .7

2 .5

2 .5

2 .5

2 .5

2 .6

1 .7

3 .2

3 .4

3 .6

1-87

1 .8

1 .8

2 0

2 .3

2 .3

2 .2

2 .4

2 .6

2 .3

2 .3

2 .3

2 .3

2 .3

1*6

2 .7

2 .6

2 .3

1 .0

2-87

1 .8

1 .8

1 9

2 .3

2 .2

2 .2

2 .4

2 .5

2 .3

2 .3

2 .2

2 .2

2 .3

1 .6

2 .5

2 .4

2 .2

1 .4

1*9

3-Ô2

*- 8 2

i- iB3

2-Ô3

3-83

4-83

1-84

2-04

3-84

4-84

T-B*

2-85

3-85

4-8 5

1—86

2 -8 6

3-86

4-8 6

1-07




IN IIIA L

1 6 6 .1
1 6 5 .0
1 6 6 .2
1 6 7 .5
1 6 9 .0
1 6 9 .4
1 7 0 .2

U U A R lb *

PREPARED BY FED ERA L RESERVE
AUGUST 27» 1967

11

BA N * I»- 5 1 . L U U I S

t k t e i H A Í tó fo L H ó b ú t t I k t M t W
M L U lf
COMPOUNDED ANNUAL R A T ES OF CHANCE
T ER M IN A L________________________________________________________________________ I N I T I A L QUARTER______________________________________________________
QUARTER
4-85
1-86
1-85
2-85
3-85
2-86
4-83
4-84
3-66
1-83
2-83
3-83
1-64
2-84
3-84
4-66
3-82
*—
82
4-82

B I L L I O N S OF
DOLLARS
" ANNUAL R A T ES
1-67
3 * 2 1 2 .5

4 .2

3 * 2 6 5 .8

1-83

5*5

6 .8

2-83

8 .0

9 .9

1 3 .0

3-83

8 .3

9 .7

1 1 .2

9 .4

4-83

9 .1

1 0 .4

1 1 .6

1 0 .9

3 * 3 6 7 .4
3 * 4 4 3 .9
3 * 5 4 5 .8

1 2 .4

3 * 6 7 4 .9

1-84

10*1

1 1 .4

1 2 .5

1 2 .4

1 3 .9

1 5 .4

2-84

1 0.0

1 0 .9

1 1 .8

1 1 .5

1 2 .2

1 2.1

8 .9

3-84

9 .4

1 0 .2

1 0 .8

1 0 .3

1 0 .6

1 0 .0

7 .4

5 .8
5 .3

3 * 7 5 4 .2
3 * 6 0 7 .9
4 .7

3 * 6 5 1 .6

4-84

8 .9

9 .5

9 .9

9 .4

9 .4

8 .6

6 .5

1-85

8 .7

9 .3

9 .6

9 .1

9 .0

8 .4

6 .7

6 .0

7 .4

2-85

8 .4

8 .9

9 .1

8 .6

8 .5

7 .9

6 .5

5 .8

6 .4

5 .5

6 .1

6 .6

6 .3

7 .1

3 * 9 7 3 .6
4 * 0 4 2 .0

8 .9

8 .5

8 .3

7 .8

6 .6

6 .1

8 .5

8 .7

8 .2

8. 1

7 .6

6 .5

6 .1

6 .2

6 .6

6 .3

6 .7

6 .3

8 .4

8 .5

8 .1

8 .0

7 .5

6 .6

6 .3

6 .3

6 .6

6 .5

6 .8

6 .7

7 .0

7 .7

7 .6

7 .1

6 .2

5 .9

6 .1

5 .9

6 .0

5 .6

5 .3

3 .6

7 .4

7 .0

6 .1

5 .8

6 .0

5 .8

5 .8

5 .5

5 .3

4 .4

3-85

8 .3

8 .7

4-85

8 .2
8 .1

¡I

3 *9 2 1 .1

2-86

7 .8

8 .0

8 .1

3-86

7 .6

7 .9

7 .9

7 .5

4 * 1 0 4 .4
4 * 1 7 4 .4
4 * 2 1 1 .6
4 * 2 6 5 .9

5 .3

4 * 2 8 8 .1

4-86

7 .3

7. 5

7 .5

7 .1

7 .0

6 .5

5 .8

5 .5

5 .4

5 .5

5 .2

5 .2

4 .8

4 .5

3 .6

3 .7

2 .1

1-87

7 .4

7 .6

7 .6

7 .2

7 .1

6 .7

6 .0

5 .7

5 .7

5 .9

5 .7

5 .7

5 .5

5 .3

4 .9

5 .3

5 .3

6 .6

2-87

7 .3

7 .5

7 .5

7 .2

7 .0

6 .7

6 .0

5 .8

5 .9

5 .7

5 .8

5 .6

5 .5

5 .2

5 .5

5 .6

7 .5

6 .3

3-82

4-82

1-83

2-85

3-83

4-83

1-84

3-84

4-84

1-85

2-85

3-85

4-85

1-86

Z—
86

3-86

4 -86

1—
67

2-84

4 * 3 7 7 .7
4 * 4 4 5 .1

IN IT IA L QUARTER

PR EPA R ED B Y FED ER A L R E S E R V E BA ML OF S T . L O U IS
SE P T E M BER 18» 1967_______________________________________

CROSS NATIONAL PROOUCT IN 1982 DO LLARS
COMPOUNDED ANNUAL R ATES OF CHANCE
BILLIO N S OF
T ER M IN A L_________________________________________________________________________I N I T I A L QUARTER_______________________________________________________________________ DOLLARS
ANNUAL RATES
QUARTER
4-66
1-67
3-66
4-83
1-85
2-85
3-85
4-65
1-66
2-6 6
4-8 2
1-83
2-83
3-83
4-84
2-84
1-84
3-84
3-82
4-82

3 * 1 5 9 .3

0 .6

3 * 1 6 6 .6

1-83

2 .0

3 .5

2-83

4 .4

6 .4

9 .3

3-83

4 .8

6 .3

7 .7

6 .0
6 .7

4-83

5 .3

6 .5

7 .5

1-84

6 .2

7 .3

6 .3

2-84

6 .1

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

7 .3
9 .0

3 * 4 5 1 .7

1 0 .7

7 .7

7 .4

7 .8

6 .1

3 * 4 9 8 .0

5 .5

3 * 5 2 0 .6

3-84

5 .6

6 .9

6 .4

6 .5

6 .2

4 .0

2 .6

4—84

5 .2

6. 1

5 .6

5 .5

5 .1

3 .2

2 .1

1 .7

1-85

5 .1

5 .8

5 .3

5 .2

3 .4

2 .7

2 .8

3 .6

2-85

4 .8

5 .4

4 .9

4 .8

4 .4

3 .1

2 .5

2 .5

3 .0

2 .1

3-85

4 .7

5 .3

4 .8

4 .7

4 .3

3 .3

2 .8

2 .9

3 .3

3 .1

4 .1

4-85

4 .6

5 .1

4 .7

4 .5

3 .3

2 .9

3 .0

3 .3

3 .1

3 .6

6 .4

3 * 5 3 5 .2
3 * 5 6 8 .7
3 * 5 6 7 .1
3 * 6 2 3 .0
3 .1

3 * 6 5 0 .9
3 * 6 9 6 .6

1-86

4 .7

5 .1

4 .7

4. 6

4 .3

3 .5

3 .2

3 .3

3 .7

3 .6

4 .2

4 .2

2-86

4 .4

4 .7

4 .7

4 .4

4 .2

3 .9

3 .2

2 .9

3 .0

3 .2

3 .0

3 .3

3 .0

3 .0

0 .6

3-86

4 .2

4 .4

4 .5

4 .1

4 .0

3 .7

3 .0

2 .7

2 .8

2 .9

2 .6

2 .9

2 .6

2 .5

1 .0

5 .4

3 * 7 0 4 .7
1 .4

3 * 7 1 6 .0
3 * 7 3 1 .5

4-86

4 .0

4 .2

4 .3

3 .8

3 .5

2 .9

2 .6

2 .6

2 .7

2 .6

2 .7

2 .4

2 .2

1 .2

1 .5

1 .5

1-87

4 .1

4 .3

4 .3

3 .6

3 .6

3 .0

2 .8

2 .8

2 .9

2 .6

2 .9

2 .7

2 .6

2 .0

2 .4

2 .9

4 .4

2-87

4 .0

4 .2

4 .2

3 .7

3 .5

3 .0

2 .8

2 .8

2 .9

2 .6

2 .9

2 .7

2 .6

2 .1

2 .4

2 .8

3 .4

2 *5

3-62

4-82

1-83

3-83

4—
63

1-84

2-64

3-84

4-64

1-85

2-65

3-85

4 - é s ~ í^ * 6

2—
86

4 -6 6

1-67




2-83

3 * 7 7 2 .2
3 * 7 9 5 .3

IN ITIA L QUARTER

PREPARED BY FEDERAL RESERVE BAM* OF S T . U W I 5
SEPTEMBER IB» 1 9 6 7 ________________________________

12

GROSS N A T I O N A L PRODUCT
R A T I O SCALE
QUAR TER LY TO TAL S AT ANNUAL RA TE S
R A T I O SCALE
T R I L L I O N S OF D O L L A R S
SEASON AL LY AD JU S TE D
T R I L L I O N S OF D O L L A R S
4. 8
4. 6
4.4
4.2
4. 0
3. 8
3. 6
3. 4
3. 2
3. 0

3.

4. 4
4.2
4. 0
3. 8
3. 6
3. 4
3. 2
3. 0
2. 8
2. 6

1979

981

980

982

1983

1984
SOURCEt

PE RC E NT AG ES
LATEST

ARE

ANNUAL

DATA P L O T T E D t




R A TE S OF

CHANGE

FOR PE RIO D S

1985
U .S .

1986
DEP ARTM ENT

1987
OF COMMERCE

IN D IC A T E D .

2ND QUARTER
PR EPARED

13

BY F E D E R A L

RE S E R V E

BANK OF

ST.

LOUIS

GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

1982-100

SCALE

198 2-1 00

1979

1980

1981

1982

1983

1984

*AS USED IN NATIONAL INCOME ACCOUNTS

1985

1986

1987

SOURCE: U .S. DEPARTMENT OF COMMERCE

PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED.
LATEST DATA PLOTTED: 2ND QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

I M P L I C IT P R IC E DEFLATOR FOR CROSS HATIONAL PRODUCT
___________________________________ COMPOUNDED ANNUAL RATES OF CHANCE_________________________________
T ER M IN A L_________________________________________________________________________I N I T I A L
QUARTER
4-83
2-83
3-84
3-82
4-82
1-84
2-84
i- 8 3
3-83

QUARTER_______________________________________________________________________ 1982 «
1-85

2-8 5

3-85

4-85

1-86

2-86

3-86

4-86

100

1-87
1 0 1 .7

4-82

3*6

1-83

3 .4

3 .2

2-83

3 .3

3 .2

3 .2

1 02 .5
103 .3
1 04 .2

3-83

3 .4

3 .3

3 .3

3 .5

4-83

3 .6

3 .6

3 .8

4 .1

4 .7

1-84

3 .7

3 .8

3 .9

4 .2

4 .5

4 .2

2-84

3 .6

3 .6

3 .7

3 .9

4 .0

3 .6

105*4
1 0 6 .5
1 0 7 .3

3 .0

108*2

3-84

3 .6

3 .6

3 .7

3 .8

3. 8

3 .6

3 .2

3 .4

4-84

3 .5

3 .5

3 .6

3 .6

3 .7

3 .4

3 .1

3 .2

3 .0

1-85

3 .5

3 .5

3 .5

3 .6

3 .6

3 .4

3 .2

3 .2

3 .2

3 .3

2-85

3 .5

3 .5

3 .5

3 .6

3 .6

3 .4

3 .2

3 .3

3 .2

3 .3

3 .3

3-85

3 .5

3 .4

3 .5

3 .5

3 .5

3 .3

3 .2

3 .2

3 .1

3 .2

3 .1

2 .9

4-85

3 .4

3 .4

3 .4

3 .4

3 .4

3 .3

3 .1

3 .1

3.1

3 .1

3 .0

2 .9

1 0 9 .0
1 0 9 .9
1 1 0 .8
1 1 1 .6
2 .9

1 1 2 .4
1 1 2 .9

1-86

3 .3

3 .3

3 .3

3 .3

3. 3

3 .1

3 .0

2 .9

2*9

2 .9

2 .7

2 .5

2 .3

1 .8

2-86

3 .3

3 .2

3 .2

3 .2

3 .2

3 .1

3 .0

2 .9

2 .9

2 .9

2 .8

2 .6

2 .5

2 .3

2 .9

3-86

3 .3

3 .3

3 .3

3 .3

3. 3

3 .1

3 .0

3 .0

3 .0

3 .0

2 .9

2 .8

2 .8

2 .7

3 .2

3*6
0 .7

1 1 3 .7
1 1 4 .7

4-86

3.1

3 .1

3 .1

3 .1

3. 1

2 .9

2 .8

2 .8

2 .7

2 .7

2 .6

2 .5

2 .4

2 .2

2 .4

1-87

3 .2

3 .2

3 .2

3 .2

3 .1

3 .0

2 .9

2 .9

2 .9

2 .8

2 .8

2 .7

2 .7

2 .6

2 .8

2 .8

2 .5

4 .2

2-87

3 .2

3 .2

3 .2

3 .2

3 .2

3 .1

3 .0

3 .0

2 .9

2 .9

2 .9

2 .8

2 .8

2 .8

3 .0

3 .0

2 .8

3 .9

3 .5

3-82

4 -82

1-83

2-83

3—83

4-85

1-84

2-84

5-84

4-84

1-85

2-85

5-85

1
a

1 1 4 .9

2 .1

l- « 6

2—
86

3-86

4-86

1-87




1 16 .1
117 .1

I H I 11AL QUARTER

P R E P A R E D BY FED ERA L R E S E R V b BAH* OF ST . LUU1S
SEPT EM BER 18» 1987_______________________________________

14

PERSONAL CONSUMPTION E X P E N D IT U R ES I « CURRENT DO LLARS
_____________ COMPOUNDED ANNUAL R A T E S C F CHANGE_______________
H
b il l io n s o r
TERM IN A L_____________________________________ ___________________________________IN I T I A L QUARTER_____________________________________________________________________ DOLLARS
' ANNUAL RATESQUARTER
1-87
3-86
4-86
2-85
3-85
1-86
2-86
1-83
2-83
4-83
4-85
4-82
2-84
3-83
4-84
1-85
1-84
3-84
3-82

2 * 1 1 7 .0

4-82

10*3

1-83

8*0

5 .7

2-83

9 .6

9 .3

1 3 .0

3-83

9 .5

9 .3

11.1

9 .3

4-83

9 .6

9 .4

1 0 .6

9 .5

9 .7

1-84

9 .3

9 .1

1 0 .0

9 .0

8 .9

2-84

9 .4

9 .2

1 0 .0

9 .2

9 .2

3-84

8 .9

8 .7

9 .2

8 .5

8 .3

7 .8

7 .7

5 .6

4-84

8 .7

8 .5

8 .9

8 .3

8 .1

7 .7

7 .5

6 .4

7 .2

1-85

8 .8

8 .6

9 .0

8 .4

8 .3

8 .0

7 .4

8 .3

2-85

8 .8

8 .6

8 .9

8 .4

8 .3

8 .1

7 .7

8 .3

8 .9

8 .4

9 .3

9 .3

1 0 .1

2 * 1 4 6 .6
2 ,2 1 3 .0
2 * 2 6 2 .8
2 * 3 1 5 .8
2 *3 6 1 .1

8 .1

2 * 4 1 7 .0

9 .8

2 * 4 5 0 .3
2 * 4 9 3 .4
2 * 5 4 9 .9

9 .4

2 * 6 0 2 .0
2 * 6 6 5 .4

3-85

8 .9

8 .7

9 .0

8 .6

8 .5

8 .4

8 .1

8 .8

4-85

8 .6

8 .4

8 .7

8 .3

8 .2

8 .0

7 .7

8 .1

8 .3

7 .9

7 .7

5. 3

1-86

8 .4

8 .2

8 .4

8 .0

7 .9

7 .7

7 .4

7 .7

7 .8

7 .4

7 .0

5 .5

5 .7

6 .3

5. 1

4 .9

4 .1
7 .4

1 0 .7

7 .7

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

2-86

8 .1

7 .9

8 .1

7 .7

7 .6

7 .4

7 .3

7 .0

7 .2

7 .2

6 .7

3-86

8 .3

8. 1

8 .3

7 .9

7 .8

7 .7

7 .6

7 .4

7 .6

7 .7

7 .4

7 .2

6 .4

6 .8

4-86

7 .9

7 .8

7 .9

7 .6

7 .5

7 .3

7 .2

6 .9

7 .1

7 .1

6 .7

6 .5

5 .8

5 .9

5 .9

6 .8

3 .1

7 .8

7 .6

7 .8

7 .4

7 .3

7 .1

7 .0

6 .8

6 .9

6 .8

6 .5

6 .3

5 .6

5 .7

5 .7

6 .2

4 .0

5 .0

6 .0

6 .4

5 .0

6 .0

7. 1

1-86

2-86

5-86

4-86

1-87

1-87

7 .7

7 .6

7 .7

7 .4

7 .3

7 .1

7 .0

6 .8

6 .9

6 .9

6 .6

6 .4

5 .8

3-82

2-87

5 .9

4-82

1-83

2-83

3-83

4-53

1-84

2-84

3-84

4-84

1-85

2-é*

3-85

4-85

2 *8 3 7 .1
2 * 8 5 8 .6
2 * 8 9 3 .8
2 * 9 4 3 .7

I NITIAL" QUARTER

PREPA RED B Y F ED ER A L R ES E R V E ” B A J * ~ Ö F S T V L O U r s
SE P T E M B ER 16» 1 9 8 7 ____________________________________

PERSONAL CONSUMPTION E X P E N D IT U R ES IN 1982 DOLLARS
COMPOUNDED ANNUAL RATES O f CHANGE
---------------------------------------------------------------------------------------------------- ftTLCTöNS W
T ERM INAL________________________________________________________________________ I N I T I A L QUARTER_____________________________________________________________________ DOLLARS
ANNUAL RATES
QUARTER
1-87
4-86
4-85
1-86
2-86
3-86
3-85
1-85
2-85
4-82
1-83
2-8 3
3-83
4-83
1-84
3-84 4-84
3-82
2-84
4-82

2 * 0 7 8 .7

5 .3

2 * 0 9 4 .2

1-83

4 .2

3 .0

2-83

5 .4

5 .5

8 .0

3-83

5 .4

5 .4

6 .7

4-83

5 .4

5 .4

6 .3

5 .5

1-84

5 .1

5 .1

5 .6

4 .6

3 .7

2-84

5 .3

5 .3

5 .8

5 .2

5 .1

3-84

4 .9

4 .8

5. 1

4 .1

1 .9

4-84

4 .8

4 .8

5 .0

4 .5

4 .3

4 .1

4 .2

3 .1

4 .3

2 * 2 8 1 .1

1-85

4 .9

4 .9

5. 1

4 .7

4 .6

4 .4

4 .6

4 .0

5 .1

2 *3 1 4 .1

2 * 1 3 5 .1
2 * 1 6 3 .0

5 .3

2 * 1 9 1 .9

4 .4

2 * 2 1 2 .1
2 * 2 4 6 .7

6 .4
2 * 2 5 7 .3

2 * 3 3 7 .0

2-85

4 .8

4 .8

5 .0

4 .6

4 .5

4 .4

4 .5

4 .0

4 .7

4 .0

3-85

5 .0

5 .0

5 .2

4 .9

4 .8

4 .7

4 .9

4 .6

5 .3

5 .4

6 .9

4-85

4 .7

4 .7

4 .8

4 .4

4 .3

4 .3

4 .0

4*4

4 .0

4*0

1 .2

1-86

4 .7

4 .7

4 .8

2-86

4 .7

4 .6

4 .8

4 .8

4 .9

4-86

4 .6

4 .5

4 .6

1-87

4 .3

4 .2

4 .1

4 .1

4-82

1-83

4 .4

4 .1

4 .5

4 .1

4 .2

2 .8

4 .5

4 .3

4 .1

4 .4

4 .1

4 .2

3 .3

4 .3

4 .1

4 .7

4 .6

4 .6

4 .6

4 .4

4 .8

4 .7

4 .8

4*3

5 .3

5 .7

4 .4

4 .3

4 .2

4 .3

4 .0

4 .3

4 .0

4 .1

3 .5

4 .1

3 .9

3 .8

0 .5

3 .9

3 .8

3 .8

3 .6

3 .8

3 .4

3 .4

2 .8

3 .1

2 .7

2 .3

- 0 .1

- 0 .7

3 .8

3 .7

3 .7

3 .5

3 .6

3 .3

3 .2

2 .7

2 .9

2 .6

2 .2

0 .5

0 .6

1 .9

3-83

4-83

1-84

2-04

5-84

1-85

2-85

3-85

4 -B 5

1-86

Z-86

3-86

4-86

1-8 f

4 .1

3-82

4 .3
4 .3

4 .3

2-87




2 * 4 0 9 .7

4 .4
4 .4

4 .7

3-86

4 .5

2 * 3 7 6 .1
2 * 3 8 3 .2

2-83

4-84

IN IT IA L

2 * 4 3 4 .3
2 * 4 7 7 .5

7 .3

2 * 4 8 0 .5
2 * 4 7 5 .9
2 * 4 8 7 .5

QUARl'bK

■PREPARED BY F E D E R A L RFSkTTO
SE P T E M B E R 18» 1987__________

15

BANK "UF~'ST¿ T O U I S

GROSS P R IV A T E DOMESTIC IN VESTM ENT IN CURRENT DOLLARS
_____________ COMPOUNOED ANNUAL R ATES OF CHANGE_______________

A IL L I0 N S o r
T ER M IN A L________________________________________________________________________ I N I T I A L QUARTER_______________________________________________________________________DOLLARS
QUARTER
“ lOfTES
3-84
4-84
2-84
1-83
2-63
1-84
4-82
3-83
1-86
3-86
4-83
1-85
2—
#5
3-82
2-86
4-65
4-86
1—
67
3-85

ANNUAL

4-82

- 3 2 .7

1-83

- 1 0.3

2-83

8 .7

38. 1

5 9 .5

3-83

14.9

3 7 .4

4 7 .2

3 5 .9

4-83

22.0

4 1 .6

4 9 .8

4 5 .1

5 4 .9

1-84

29.1

4 7 .0

5 4 .8

5 3 .3

6 2 .8

7 1 .0

2-84

2 4 .6

3 8 .0

4 2 .0

3 8 .0

3 8 .7

3 1 .2

4 0 9 .6
1 9 .6

426*3
4 8 1 .3
5 1 9 .7
5 7 9 .8
6 6 3 .0
0*7

664*2

3-84

2 1 .8

3 2 .5

3 4 .8

3 0 .3

2 9 .0

2 1 .3

2 .2

3 .7

4-84

18.4

27. 1

2 8 .2

2 3 .7

2 1 .3

14.1

— .2
0

- 0 .7

- 5 .0

1-85

14.8

2 1 .8

2 2 .1

1 7 .5

1 4 .7

8 .0

- 3 .7

- 5 .1

- 9 .2

- 1 3 .3

1 4.0

20. 2

2 0 .2

16.1

1 3 .5

7 .7

- 1 .8

- 2 .4

- 4 .3

- 4 .0

6 .3

3-85

11.6

1 6 .9

1 6 .6

1 2 .6

1 0 .0

4 .7

- 3 .5

- 4 .3

- 6 .2

— .6
6

- 3 .1

- 1 1 .7

if*
0
0
1
4
-

1 1 .9

1 6 .7

1 6 .4

1 2 .8

1 0 .5

5 .9

- l.l

- 1 .3

- 2 .3

- 1 .7

2 .6

0 .7

1 4 .9

1-86

1 2.5

1 7 .1

1 6 .9

1 3 .6

1 1 .6

7 .6

1 .5

1 .6

1 .3

2 .6

7 .0

7 .3

1 8 .2

2 1 .6

2-86

1 1 .5

1 5 .6

1 5 .3

1 2 .2

1 0 .2

6 .5

l.l

l.l

0 .8

1 .8

5 .1

4 .8

1 0 .9

9 .0

- 2 .3

3-86

9 .9

1 3 .6

1 3 .2

1 0 .2

8 .3

4 .9

- 0 .1

- 0 .2

- 0 .7

— . 1
0

2 .3

1 .5

5. 1

2 .1

- 6 .5

- 1 0 .5

4-86

9 .3

1 2 .7

1 2 .2

9 .5

7 .6

4 .4

- 0 .2

- 0 .2

- 0 .7

— . 1
0

1 .9

1 .2

4 .0

1 .4

- 4 .5

- 5 .6

- 0 .4

4 .5

1 2 .2

2 6 .3

2-85

670*3
661*8
6 3 6 .6
6 4 8 .4
6 2 6 .6
650*8
683*4
6 7 9 .4
6 6 0 .6
660*2
6 99 *9

1-87

1 0.2

1 3 .4

1 3 .1

1 0 .5

8 .9

6 .0

1 .8

1 .9

1 .7

2 .5

4 .7

7 .4

6 .0

2 .4

4 .0

2-87

9 .7

1 2 .7

1 2 .4

9 .9

8* 4

5 .6

1 .8

1 .9

1 .7

2 .4

4 .3

4 .1

6 .6

5 .2

2 .2

3 .4

8 .5

1 3 .3

1 .6

3-82

4-82

1-83

2-83

3-83

4-83

1-84

2-84

3-84

4-84

1-85

2-85

3-85

4-85

1-86

2-86

3-86

4-86

1-07

702*6

INITIAL QUARTER

PREPA RED BY FED ERA L R ES E R V E BANK. UH S T . L U U IS
SEPT EM BER 18» 1967_______________

GROSS P R IV A T E DOMESTIC IN VESTM ENT IN 1982 DOLLARS
COMPOUNDED AMMUAL R ATES OF CHANGE

BTULIÖHS OF

T ER M IN A L_________________________________________________________________________I N I T I A L QUARTER_______________________________________________________________________DOLLARS
" " " ANNUAL RATES
QUARTER
3-86
4-66
1-67
2-66
1-85
2-65
3—
85
4-65
1-66
2-83
3— 3 4-63
6
1-83
2-64
1-64
3-84
4-84
3-82
4-82
406 *6

4-82

- 31 *0

1-83

-9*4

1 9 .1

2-63

11*5

4 1 .9

4 2 7 .1
486 *9

6 8 .9

5 24*6

3-83

17*0

3 9 .5

5 1 .0

3 5 .0

4-83

22*3

4 1 .2

4 9 .4

4 0 .5

4 6 *3

1-84

28*7

4 5 .8

5 3 .4

4 8 .6

5 5*9

2-84

24*5

3 7 .4

4 1 .4

3 5 .2

3 5 .3

3 0 .1

2 .0

3-84

21*7

3 2 .0

3 4 .2

28*2

2 6 .6

2 0 .6

2 .8

3 .6

4-84

18*4

2 6 .6

2 7 .6

2 1*9

1 9 .5

1 3 .6

0 .1

- 0 .8

577*2
655*2

6 6 .0

6 56*4
664*2
6 5 5 *7

- 5 .0

6 3 2 .1

1-85

1 4 .7

2 1 .4

2 1 .7

1 6 .1

1 3 .2

7 .5

- 3 .5

- 5 .3

- 9 .4 - 1 3 .6

2 -85

14*2

2 0 .1

2 0 .2

1 5 .2

12*6

7 .8

- 1 *2

- 1 .9

- 3 .7

- 3 .0

3-85

11*6

1 6 .6

1 6 .3

11*6

9 .0

4 .5

- 3 .3

- 4 .3

— .2
6

-6 *6

4 -85

11*7

1 6 .3

1 6 .1

11*6

9 .5

5 .6

- 1 .0

-1*5

- 2 .5

-1*9

2 .4

-0 *7

13*5
1 7 .1

2 0*8

9 *2

7 .1

- 5 .1

6 6 5 *6

3 .5

0 *4

- 6 .5 - 1 1 *8

6 45 *0

- 8 *5 - 10 *1

- 6 .4

645 *7

8 *9

6 23 *2

- 2 * 6 - 1 3 *2

643 *3
6 74 *4

1-86

12*4

1 6 .7

1 6 .4

1 2 *6

1 0 .6

7 .2

1 .5

1*4

1 .0

2 .3

6 .7

6 .0

2 -8 6

11*1

1 4 .9

1 4 .6

11*0

9 .0

5 .9

0 .7

0 .5

0 .1

1*0

4 .2

3* 1

3-86

9*5

1 2 .9

1 2 .5

9 .0

7. 1

4 .1

— .6
0

- 0 .9

- 1 .5

- 0 .9

1*4

— *I
0

4-86

8*4

1 1 .5

1 1 .0

7 .7

5 .8

3 .0

- 1 .4

- 1 .7

- 2 .3

- 1 *9

- 0 .1

- 1 .5

1*0

- 1*9

1-87

9*4

1 2 .4

1 2 .0

9 .0

7 .3

4 .8

0 .8

0 .7

0 .5

1*1

3 .1

2 .3

5*1

3 *5

— *4
0

1*2

8*5

2 6*5

2-67

8*9

1 1 .7

1 1 .3

8 .5

6 .9

4 .5

0 .9

0 .8

0 .5

1*1

2 .9

2*1

4 *6

3*1

-0*1

1*2

6 *0

14*0

l.l

3-62

4—
62

1-83

2-63

3-83

4-63

1-64

2-64

3-84

4-64

1-65

2-65

3-65

4-65

l- § 6

2-66

3-86

4-86

1-67




in it ia l

6 31*0
6 7 1 .6
6 73 *7

quAi r m r

P REPA RED OT F t DC RAL R fcS tK V t OAW* W S I * L I W 1 J
SE P T E M BER 18» 1967_______________________________________

16

"

GOVERNMENT PURCH ASES OF iSOOOS ,an 6 S E R V IC E S IN ¿ u r * £ n ? M l U W *
COMPOUNDED ,
ANNUAL RATES OF CHANCE
QUARTER

IN IT IA L

TERM IN A L
QUARTER
3-62
4-82

6 .6

1-63

2-63

3-83

4-83

1-84

2

4-#4

1-85

2-65

3-85

4 -6 5

1-66

2—
06

3-66

4-66

6 71 *6

1 6 .2

1-63

4 -6 2

B I L L I O N S OF
DO LLARS
ANNUAL R A T E5
1-67

6 6 6 .1

- 2 .2

2-8 3

5 .8

1 .0

5 .2

1 .8

3 .8

6 7 5 .2

4 .3

3-83

3 .3

6 6 0 .7
676*1

4-63

3 .6

0 .6

1 .6

0 .3

1-84

5 .0

2 .9

4 .3

4 .2

- 2 .7
4 .7

1 2 .6

2-84

7 .6

6 .3

8 .0

9 .0

1 0 .9

1 8 .4

2 4 .6

7 .7

8 .4

9 .7

1 4 .1

1 4 .9

6 .0

6 9 6 .5
7 3 5 .J
7 4 6 .6

3-84

7 .4

6«2

4-84

7 .7

6 .7

8 .0

8 .6

9 .7

1 3 .1

1 3 .2

8 .0

9 .9

1-85

8 .0

7 .1

8 .3

8 .9

9 .9

1 2 .6

1 2 .6

8 .8

1 0 .3

1 0 .7

8 .9

9 .7

1 1 .9

1 1 .8

8 .8

9 .7

9 .6

8 .6

2-85

8 .0

7 .3

8 .4

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

3-85

8 .8

8. 1

9 .2

9 .8

1 0 .6

1 2 .7

1 2 .7

1 0 .4

1 1 .5

12.1

1 2 .8

1 7 .1

4-85

9 .0

8 .5

9 .5

1 0 .0

1 0 .8

1 2 .6

1 2 .6

1 0 .7

1 1 .7

12.1

1 2 .6

1 4 .6

1 2 .1

1-86

8 .0

7 .4

8 .2

8 .6

9 .1

1 0 .5

1 0 .3

8 .4

8 .8

8 .5

8 .0

7 .6

3 .4

— .6
4

2-86

8 .1

7 .6

8 .4

8 .7

9 .2

1 0 .5

1 0 .2

8 .6

8 .9

8 .8

8 .4

8 .3

5 .5

2 .4

9 .9

8 5 7 .0
6 4 6 .9
8 6 7 .2
8 7 6 .5

3-86

7 .9

7 .4

8 .1

8 .4

8 .9

1 0 .0

9 .7

8 .2

8 .5

8 .3

7 .9

7 .7

5 .5

3 .4

7 .6

5 .3

4-86

7 .7

7 .2

7 .8

8 .1

8 .5

9 .4

9 .2

7 .7

7 .9

7 .7

7 .3

7 .0

5 .1

3 .4

6 .3

4 .5

3 .6

1-87

7 .5

7 .0

7 .6

7 .8

8 .2

9 .1

8 .8

7 .4

7 .6

7 .3

6 .9

6 .7

5 .0

3 .6

5 .6

4 .5

4 .1

4 .5

2-87

7 .6

7 .2

7 .7

8 .0

8 .3

9 .1

8 .8

7 .6

7 .8

7 .6

7 .2

7 .0

5 .7

4 .6

6 .6

5 .6

5 .9

7 .1

9 .7

3-82

4-82

1-83

¿ -3 3 ~ T - s T

4-Ä *

i- 8 4

¿- *4

3-H

4-Ö4

1-85

2-65

3-65

4 -6 5

1-86

2 -86

5-86

4-86

1—
67

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

IN ITIAL QUARTER

P R E P A R E D BY F E D E R A L R E S E R V E BANK OF S T . L W J l S
SE P T E M B ER 16» 1967________________________________________

GOVERNMENT PURCH ASES OF WOODS AMD S E R V IC E S IN 1962 DO LLARS
_______________ COMPOUNOEO ANNUAL RATES OF CHANGE_______________________
IN IT IA L

“ b I l L I ö N S öP
DOLLARS
ANNUAL RAY e s

QUARTER

QUARTER
3-62

4-62

1-83

2-83

3-83

4-83

1-84

2-84

3-64

4-84

1-85

2-85

3-85

4-6 5

1—
66

2-86

3-86

4-8 6

1-67
6 6 0 .1

4-82

11.4

1-83

2 .1

- 6 .4

2-83

1 .7

- 2 .8

6 4 9 .2
6 5 0 .9

1 .1

3-83

1 .7

- 1 .3

1 .4

0 .0

- 2 .7

—1 ♦
b

- 2 .7

1-64

1 .1

- 0 .9

6 5 3 .6

1 .7

4-83

6 4 2 .2

- 6 .8
- 0 .2

6 5 3 .0

6 .9

6 6 0 .2

2-84

3 .3

2 .0

3 .8

4 .5

5 .5

1 2 .2

1 7 .7

3-64

3 .2

2 .1

3 .6

4 .1

4 .7

8 .9

9 .9

2*6

3 .4

2 .5

4 .3

4 .8

7 .9

8 .3

3 .9

1-85

3 .7

2 .9

4 .1

4 .5

5 .0

7 .6

7 .7

4 .6

5 .6

6 .0

2-85

3 .8

3 .1

4 .2

4 .6

5 .0

7 .1

7 .2

4 .7

5 .4

5 .5

5 .0

7 .9

8 .6

1 0 .3

1 5 .7

4-84

6 8 4 .5
6 9 3 .2

5 .2

7 0 3 .4
7 1 2 .1
7 3 6 .6

3-85

4 .6

4 .2

5 .3

6 .3

8 .3

6 .6

6 .8

4-85

5 .0

4 .5

5 .6

6 .5

8 .3

8 .5

7 .1

8 .7

9 .6

1 2 .0

8 .4

1-86

4 .0

3 .5

5 .0

6 .3

6« 3

4 .7

5 .1

5 .1

4 .9

4 .8

- 0 .3

- 6 .3

2-86

4 .3

3 .6

5 .2

6 .5

6 .4

5 .1

5 .5

5 .5

5 .4

5 .5

2 .4

- 0 .6

5 .0

6 .2

6 .1

4 .9

5 .2

5 .2

5 .0

5 .0

2 .5

0 .6

5 .4

3 .0

5 .2

6 .3

6 .3

5 .5

5 .5

5 .4

5 .5

3 .6

2 .4

6 *2

5 .4

7 .9

4 .3

V I

3 .9

3 .6

1 .9

0 .6

3 .0

1 .4

0 .6

- 6 .2

4 .7
4 .6

3-86

4 .2

3 .7

4 .5

4-86

4 .4

4 .0

4 .7

4 .6

7 5 3 .7
7 3 7 .6
7 .8

7 5 1 .6
7 5 7 .2
7 7 1 .8
7 5 9 .6

1-67

3*8

3 .4

4 .2

4 .4

5 .3

5 .2

2-87

3 .6

3 .4

4 .2

4 .3

5 .2

5 .1

4 .1

4 .2

4 .1

3 .9

3 .6

2 .2

1 .1

3 .1

2 .0

1 .7

- 1 .3

3 .6

3-62

4-82

2-83

3-63

4-83

1-84

2-64

3-64

4-84

1-65

2 -B5

3-65

4-8 5

1-6 6

2 -6 6

3—86

4-66

1-67

1-63




7 6 6 .7

p R i^ / u ö t i)" f t V " i€ 6 ö t A L
M N K 'n m r - n K v r r '
SE P T E M B E R !> » 1967______________

17

D IS P O S A B L E PERSONAL INCOME IN CURRENT DO LLARS
COMPOUNDED AMNUAL R ATES QF CHANCE
T ER M IN A L
QUARTER

IN IT IA L
^82

4 -8 2

1-83

2-93

3-83

4-93

1-94

2-94

3-94

9 1 U .1 0 N * OF
DOLLARS

QUARTER

4-94

1-95

ANNUAL RATES
2-9 5

3-95

4-95

1-96

2 -96

3-86

4-96

1-97
2 * 3 1 9 .1

4-82

7 .1

1-83

6 .0

2-83

6 .9

6« 8

8 .7

3-83

7 .2

7 .3

8 .5

8 .2

4-83

8 .7

9 .1

1 0 .5

1 1 .4

2 * 3 4 5 .7

4 *8

2 * 3 9 5 .4
2 * 4 4 3 .2
1 4 .6

2 * 5 2 7 .9
2 * 6 1 1 .9

1-84

9 .5

1 0 .0

1 1 .3

1 2 .2

14. 3

1 4 .0

2-84

8 .8

9 .1

1 0 .0

1 0 .3

1 1 .0

9 .3

4 .8

3-84

8 .7

8 .9

9 .6

9 .8

1 0 .1

9 .7

6* 2

7 .5

6 .0

6 .6

2 * 6 4 2 .9
2 *6 9 1 .1
5 .7

2 * 7 2 9 .6

4-84

8 .3

8 .5

9 .0

9 .1

9 .2

7 .9

1-85

8 .0

8. 1

8 .5

8 .5

8 .5

7 .3

5 .8

6 .1

5 .4

5 .0

2-85

8 .5

8 .6

9 .0

9 .0

9 .2

8 .3

7 .2

7 .8

7 .9

9 .0

1 3 .1

3-85

7 .7

7 .8

8 .1

8 .0

8. 0

7 .0

5 .9

6 .1

5 .8

5 .8

6 .2

- 0 .2

6 .4

6 .5

7 .0

4 .1

7 .8

7 .8

1-86

7 .8

2-86

7 .8

2 * 8 4 8 .4
2 * 9 4 7 .2
2 * 9 0 6 .6

9 .6

7 .2

6 .3

6 .5

8. 1

7 .4

6 .6

6 .8

6 .7

6 .9

7 .4

5 .5

8 .5

8 .4

8 .0

7 .4

6 .7

6 .9

6 .9

7 .1

7 .5

6 .1

8 .3

8 .1

7 .9

6 .2

6 .3

6 .6

5 .3

6 .7

6 .1

4 .9

8 .1

8 .0

8 .0

7 .9

8 .1

8 .1

7 .9

8 .1

8 .1

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

3 * 0 3 8 .2

3-86

7 .5

7 .5

7 .7

7 .6

7 .5

6 .9

6 .4

6 .3

+
1
O
D
O
'

4-85

2 * 7 6 2 .2

7 .2

7 .2

7 .4

7 .3

7 .2

6 .6

5 .9

6 .1

5 .9

5 .9

6 .1

4 .9

6 .0

5 .3

4 .3

2 .6

3 .1

1-87

7 .3

7 .3

7 .4

7 .4

7 .3

6 .8

6 .2

6 .3

6 .2

6 .2

6 .4

5 .5

6 .4

6 .0

5 .4

4 .6

5 .9

9 .7

2-87

6 .9

6 .9

7 .0

6 .9

6 .8

6 .3

5 .7

5 .8

5 .7

5 .7

5 .7

4 .8

5 .6

5 .1

4 .4

3 .6

4 .1

4 .6

0 .6

3-82

4-82

■ ra y

2-Ô3

3-05

4-83

1-84

2-Ö4

3-04

4-84

1-65

2-95

3-95

4-95

1-96

2-06

3-96

4-96

1-97

IN IT IA L

3 * 0 6 1 .6
3 * 1 2 5 .9
3 * 1 3 0 .6

QUARTER

PREPA H ED BY T E D E R A I R E S E R V E B JW * OF “S T . L O U IS
SE P T E M BER 18» 1997______________________________________

D IS P O S A B L E PERSONAL INCOME IN 1992 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANCE

BILLIONS OF
ANNUAL HATES

QUARTER
3-82
4-82

4 -9 2

1-83

2-83

3-83

4-83

1-94

2-94

3-94

4-94

1-95

2-95

3-95

4-95

1—
96

2-96

3-96

4-96

1-97
2 * 2 7 6 .1

2 .3

2 » 2 9 9 .4

2 .2

1-83

2 » 3 1 1 .1

3 .1

4 .0

3-83

3 .2

3 .5

4 .1

4 .3

4-83

4 .5

5 .1

6 .1

7 .2

1 0 .2

1-84

5 .3

6 .0

6 .9

7 .9

9 .8

9 .4

5 .2

5 .8

6 .3

7 .0

5 .4

1 .6

5 .5

5 .8

6 .2

4 .8

2 .7

3 .7

5 .1

5 .3

5 .5

4 .3

2 .7

3 .3

2 .8

2-83

2-84
3-84

4 .7

4-84

4 .4

1-85

4 .2

4 .7

2 * 3 3 5 .4
2 » 3 9 2 .7
2 * 4 4 6 .9
2 * 4 5 6 .6
2 * 4 T 9 .2
2 * 4 9 6 .3
2 » 5 0 6 .9

4 .4

4 .7

4 .8

4 .8

2 .4

2 .7

2 .2

1 .7

4 .8

2-85

5 .1

5 .2

5 .3

4 .6

3 .6

4 .1

4 .3

5 .0

9 .5

4 .0

4 .2

4 .3

4 .3

3 .4

2 .5

2 .6

2 .4

2 .2

2 .5

2 ,5 5 8 .4
2 * 5 3 9 .2

3-85

3 .9

4-85

3 .9

4 .1

4 .2

4 .3

4 .3

3 .5

2 .7

2 .9

2 .8

2 .9

3 .1

0 .6

4 .4

1-86

4 .2

4 .3

4 .5

4 .5

4 .6

3 .9

3 .3

3 .5

3 .5

3 .6

4 .1

2 .7

5 .9

7 .2

2-86

4 .4

4 .6

4 .7

4 .8

4 .8

4 .3

3 .9

4 .1

4 .1

4 .3

4 .9

4 .0

6 .5

7 .5

3-86

4 .1

4 .3

4 .3

4 .3

3 .8

3 .3

3 .5

3 .4

3 .5

3 .9

3 .0

4 .5

4 .6

3 .3

- 1 .0

4 .1

4 .1

4 .0

3 .6

3 .0

3 .2

3 .1

3 .2

3 .4

2 .5

3 .7

3 .6

2 .4

- 0 .3

0 .5

0 .7

1 .6

2 .7

4-8 6

2 * 5 6 5 .5
2 » 6 1 0 .5
2 » 6 6 0 .2

7 .9

2 » 6 5 3 .2
2 * 6 5 4 .7
2 * 6 7 4 .6

3 .9

4 .0

4 .0

4 .0

3 .5

3 .0

3 .1

3*1

3.1

3 .3

2. 6

3 .6

3 .4

2 .5

3 .3

3 .4

3 .5

3 .4

3 .4

2 .9

2 *4

2 .5

2 .4

2.3

2 .4

1 .7

2 .4

2 .1

1 .1

- 0 .6

- 0 .4

- 0 .9

- 4 .3

3—
92

4-è 2

1-93

2-93

3-93

4-93

i-è4

2-Ä4

3-94

4-94

1-95

2-9 5

3-95

4-95

1-96

2-96

3-96

4-9 6

1-97

1-87
2-87

- 3 .1




2 * 6 4 5 .5

IN IT IA L UUUMhK

PREPARED'BT FEDERAIT R E fE R V T BAUR OF S T . LOUIS
SEPTEMBER 19 » 1H T _______________________________

18

'to k P M X t t H M m

JtU k

Taxes*

COHPOUMOED ANNUAL KATES OF CHANCE
T ERM IN A L
QUARTER

___________________________________________________________ I N I T I A L
V **

1-83

2-83

3-83

4-93

1-84

2-84

3-84

4-84

i- 8 5

2-85

3-85

4 -8 5

DO LLARS
1—
86

2-8 6

3-86

4-B6

ANNUAL RATES

1—
87
1 0 4 .3

- 1 0 .7
2 6 .4

2 4 .7

4 7 .3

7 1 .7

3-83

3 1 .4

4 9 .5

6 2 .5

5 3 .9

4-83

2 6 .1

3 7 .5

4 1 .4

2 8 .3

7 .0

1-84

2 6 .4

3 5 .5

3 7 .9

2 8 .2

1 7 .0

2 7 .9

2-84

2 1 .7

2 8 .1

2 8 .4

1 9 .4

9 .8

1 1 .2

- 3 .4

3-84

1 4 .8

1 9 .0

1 7 .8

9 .2

0 .3

- 1 .9

- 1 4 .0

4-84

1 2 .3

1 5 .5

1 4 .0

6 .5

- 1 .0

- 2 .9

- 1 1 .5

- 1 5 .2

— .1
6

1 3 9 .2

1-85

5 .8

7 .8

5 .7

- 1 .4

- 8 .4 - 1 1 .2

- 1 9 .0

- 2 3 .6 - 2 3 .6 - 3 7 .8

1 2 3 .6

2-85

5 .6

7 .4

5 .5

- 0 .7

- 6 .7

- 8 .8

- 1 4 .8 - 1 7 .5

I

6 .2

*>
*
C
D
1

1 1 0 .6

1-83

I
N
»
IP
•
i"

4-82

QUARTER_____________________

'
3-#2

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

- 1 5 .3 - 1 9 .6

1 2 4 .8

3 .9

6 .5

8 .2

6 .6

1.1

- 4 .1

- 5 .6 - 1 0 .2

- 1 1 .5

- 8 .3

- 9 .0

1 0 .1

1 6 .7

7 .2

8 .8

7 .3

2 .4

- 2 .1

- 3 .2

- 7 .0

- 7 .6

- 4 .0

- 3 .4

1 1 .8

1 6 .0

1-86

3 .5

4 .6

3 .0

- 1 .7

- 6 .0

- 7 .3

- 1 1 .0

- 1 2 .0

- 9 .9 - 1 0 .7

- 2 .2

- 4 .1

2-86

3 .6

4 .7

3 .1

- 1 .1

- 5 .0

- 6 .2

- 9 .3

- 1 0 .1

- 8 .0

- 8 .3

- 0 .8

- 2 .0

- 7 .5

- 1 7 .2

4 .7

3-86

5 .0

6 .1

h •8

0 .9

- 2 .6

- 3 .5

— . 1
6

- 4 .0

- 3 .7

3 .5

3 .4

0 .4

- 4 .1

1 6 .0

4-86

5 .4

6 .5

5 .3

1 .6

- 1 .6

- 2 .2

- 4 .6

- 4 .7

- 2 .4

- 1 .9

4 .7

4 .9

2 .6

- 0 .3

1 4 .7

o
•
o
<l
\

1 2 9 .7

3-85
4-85

1 2 .2

1-87

4 .2

5 .1

3 .9

0 .5

- 2 .5

- 3 .2

- 5 .4

- 5 .6

- 3 .3

2 .2

1 .9

- 0 .4

- 3 .2

6 .7

7 .4

- 1 .8

- 1 4 .1

2-B7

4 .9

5 .8

4 .7

1 .5

- 1 .3

- 1 .8

- 3 .8

- 3 .8

- 1 .8

- 1 .4

3 .8

3 .8

2 .1

0 .0

8 .9

1 0 .0

4 .4

0 .7

1 8 .2

3-82

4-82

2-33

3-83

4-83

2-84

3-84

4-84

1-85

2-85

3-85

4-8 5

1-86

2-86

3—86

4-8 6

1-07

1 3 4 .4

1 5 .3

1 2 0 .9

- 1 3 .1 - 3 4 .5

1 2 2 .3
1 3 0 .2

2 8 .5

1 3 4 .0
1 2 9 .0
1 3 4 .5

------------------------------------------------------------- IN ITIAL QUARTER
*

NATIONAL INCOME B A S IS

___________________________________________
PffFPA RFD _ &T FED ERA L RE S ER V E"B A N K OF S I . LOUTS
S EPT EM B ER 18» 1987________________________________________

HISTORICAJL SOURCES OF
NATIONAL INCOME AND PRODUCT ACCOUNTS DATA
Estimates for the series in the regular quarterly presentation
of NIPA tables for 1984-87:11 will be published in the July 1987
Survey of Current Business and 1983 in the July 1986 Survey of
Current Business. Estimates for NIPA series for 1929-82 are
published in The National Income and Product Accounts of the United
States, 1929-82: Statistical Tables.
For further information and prices, write to the National
Income and Wealth Division (BE-54), Bureau of Economic Analysis,
U.S. Department of Commerce, Washington, D.C. 20230.




19

I N V E N T O R I E S COMPARED W I T H MONTHLY SALES
MANUFACTURI NG AND TRADE
SEASONALLY ADJ USTED

.72

72

.6 8

68

. 64

64

. 60

60

.56

56

. 52

52

. 48

48

44

40

. 36

36
1973 1974

1975 1976 1977 1978 1979 1980 1981

1982 1
SOURCE:

«BEGINNING

IN

1982,

INVENTORY DATA REFL E CT

SHADED AREAS R E P R E S E N T
LATE ST

DATA P L OTT E D:




P E R I ODS OF B U S I N E S S

CHANGES

1984 1985 1986 1987
U. S . DE P ART ME NT

OF COMMERCE

IN E S T I M A T I O N PROCEDURES.

RECESSIONS.

J ULY PRELI MI NARY
PREPARED BY FEDERAL

20

RESERVE

BANK OF ST.

LOUIS

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