Full text of National Economic Trends : July 1973
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
n f l n o f i f l L Economic t r e d d s P R EP A R ED MONTH ENDING: June 30, 1973 BY FEDERAL RESERV E BANK OF ST. LOUIS RELEASED: July 25, 1973 Total spending for goods and services advanced at a 9.5 per cent annual rate from the first to the second quarter of 1973, as real output growth slowed to a 2.6 percent rate and prices rose at a 6.8 percent rate. For the first half of 1973, total spending rose at a 12.3 percent rate, compared to a 10.6 percent increase for the year ending fourth quarter 1972 and a 9.3 percent rise in 1971. Real out put increased at a 5.6 percent rate in the first half of 1973, after rising 7 percent in 1972 and at a 3.8 percent annual rate from 1957 to 1972. Personal consumption expenditures rose at an 8.3 percent annual rate in the second quarter of 1973, after rising at a rapid 15 percent rate in the first quarter and by 10 percent in 1972. From 1957 to 1972, personal consumption expenditures increased at a trend rate of 6.5 percent. Reflecting primarily a slowing in expenditures for res idential structures, the growth in gross private domestic investment slowed to an 11 percent rate in the first half of 1973, after rising at an 18 percent annual rate in the preceding year. Federal Government purchases of goods and services showed no increase from second quarter 1972 to second quarter 1973, while state and local purchases of goods and services increased 14 percent over the same period. Industrial production rose at an 8 percent rate in the first six months of 1973, compared to a 10 percent increase for the year ending December 1972 and a trend rate of 4.2 percent from 1957 to 1972. Total civilian employment expanded at a 4.6 percent rate for the six months ending June, compared to a 3.4 percent increase in 1972. The unemployment rate of all civilian workers fell to 4.8 percent in June, after remaining about 5 percent since the first of the year. The implicit GNP price deflator rose at a rapid 6.8 percent rate in the second quarter of 1973, following a 6 percent rate of increase in the first quarter and a 3.3 percent advance in the pre ceding year. Consumer prices rose at an 8 percent rate in the six months ending June, compared to a 3.4 percent increase in 1972 and a trend rate of 2.7 percent from 1957 to 1972. Wholesale prices of industrial commodities have increased at a 13 percent rate in the past six months, and wholesale prices of farm products and processed foods and feeds have risen at a 48 percent rate. 2 INDUSTRIAL PRODUCTION C O M P O U N D E D A N N U A L R A T E S OF C H A N G E 1 9 6 7 - 1 00 INITIAL M O N T H terminal MONTH 11 -71 12-71 i -72 2-7 2 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1- 7 3 2-73 3-73 4-73 5-73 12-71 8.1 1-72 7.5 6. 9 108.7 2-72 10 . 0 11. 0 110.0 10 8 . 1 3-72 11 . 0 12 . 0 I /t. Ó 13.9 4-72 12. 5 13.6 1 e>. 0 16.3 18.7 5-72 11.1 11.7 1 2. 9 12.2 11.3 6-72 9.8 10.0 10 . 7 9. 6 8 .2 3.2 2.1 7-72 9. 2 9.4 9.8 8.7 7.5 4.0 3.8 5. 4 8-72 9.7 9.9 10.3 9.5 8.6 6.2 6.9 9.3 13.4 111.2 112.8 113.2 4. 3 113.4 113.9 115.1 11 6 . 1 9-72 9.8 10.0 10 . 4 9.7 9.0 7.2 7.9 9.9 12.2 10 . 9 10-72 10 . 3 10.5 10 . 9 10.4 9.9 8.5 9.4 11.2 13.3 13.2 15.5 11-72 10.3 10.5 10 . 9 10. 4 10 . 0 8.8 9.6 11 . 1 12.6 12.3 13. 1 10 . 7 12-72 10.1 10.3 10.6 10.1 9.7 8.6 9.3 10.5 11.5 11.1 11.1 9.0 7.3 1 -73 9.8 10.0 10.2 9. 8 9.4 8.4 8.9 9.9 10.6 10.1 9.9 8.1 6.8 6.2 2-73 10.1 10.2 10. 5 10.1 9.6 8.9 9.4 10.4 11 . 1 10.7 10.6 9.5 9 .1 10.0 3-73 10.0 10.2 10.4 10.0 9.7 8.9 9. 4 10 . 2 10.9 10.5 10.4 9.4 9.1 9.7 11.5 9.3 4- 7 3 9.9 10.0 10 . 2 9.8 9.5 8.8 9. 2 9.9 10.4 10. 1 9.9 9.0 8.7 9.1 10.0 8.2 5-73 9.8 9.9 10.0 9.7 9. 4 8.7 9.1 9.8 10.2 9.8 9.7 8.9 8.6 8.9 9.6 8.2 7.6 8. 1 6-73 9. 4 9. 5 9. 7 9.3 9.0 8. 4 8.7 9. 3 9.6 9.2 9.1 8.3 7.9 8.0 8.4 7.1 6.4 6.0 4.0 11-71 12-71 1-72 2-7 2 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 5-73 117.5 118.5 119.2 119.8 1 3.8 121.1 122.0 7.1 122.7 1 2 3 . 5P 1 2 3 . 9P INITIAL M O N T H P- P R E L I M I N A R Y PREPARED J U L Y 17» BY F E D E R A L 1973 RESERVE BAN K OF ST. L O U I S 3 INDUSTRIAL RATIO PRODUCTION SCALE 1967 = 100 RATIO SEASONALLY ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S L A T E S T DATA P L O T T E D : SCALE 1967 = 100 INDICATED. JUNE P R E L I M I N A R Y PREPARED 8 Y FEDERAL RESERVE BANK OF S T . LOUIS 4 TOTAL CI V I L I A N EMPLOYMENT ,&NNI1A l RA TFÇ OF C H A N G E rn M p n tm n F n _ T ERM I N A I MONTH ...... 11 -71 1 2 - 7 1 INITIAI 1-7? 2-72 3-72 4-7 2 5-7? ¿-7? /— 7? 8— 7 7 1M O N T H Q-7? 1A — 7? 11- 7 ? \ 2 - 7 2 X2-71 0.8 1-7? 4.5 8.4 2-72 3.1 4.2 0.2 3 -72 4. 7 6 .0 4.8 9 .7 4-72 3.7 4.4 3.2 4.7 -0. 1 5 -7? 3 .7 4 .3 3.3 4.4 1.8 3.7 6 -72 3.3 4. 3 3.5 4.4 2.7 4. 1 4.4 7-72 3.4 3. H 3.0 3.6 2. 1 2. 9 2.4 0.4 8-72 3.5 3.8 3.2 3.7 2.5 3.2 3.0 2.3 4 .2 9 -7 2 3.4 3.7 3.1 3.6 2.Ò 3.1 3.0 2.5 3.5 2 .9 10-7? 3.3 3.5 3.0 3.4 2.5 2.9 2.8 2.4 3 .0 2.5 2.1 11-72 3.2 3.4 2.9 3.2 2.4 .2.8 2.6 2.3 2.8 2 .3 2.0 1 .9 2.9 2.8 2.5 3.0 2.7 2 .6 2.8 1-7 3 ? - 73 3-73 4-71 5-73 THOUSANDS OF P E R S O N S 80.040 80,579 80,594 81,216 81,209 81,458 81,752 81,782 82,061 82,256 82,397 82,525 12-72 3.2 3.4 3.0 3.3 2.6 1-73 2.7 2.9 2.5 2.7 ?.o 2.2 2.0 1.7 1.9 1.5 l.l 2 -73 3.1 3.3 2.9 3.1 2.6 2.3 2.7 2 .5 2 .8 2.6 2.6 3 -73 3.6 3. a 3.5 3.3 3.3 3.6 3.6 3 .5 3 .9 3.8 4.0 4-73 3.4 3.6 3. 3 3.5 3.1 3.3 3.3 3 .2 3.5 3. 4 3.5 5-73 3.3 3.5 3.2 3.4 3.0 3.2 3.2 3.0 3.3 3.2 3.2 3 .4 3.7 6 -73 3.7 3.8 3.6 3.3 3.4 3.6 3.6 3.6 3.9 3.9 3.9 4.2 4.5 U -71 12-71 1-72 2-72 3 -72 4-72 5- 7 2 6-72 7-72 8-7 2 9-72 10-72 11-72 12-72 3 .8 82,780 0.8 0.2 -3.2 82,555 ?• 7 2.9 2.5 8.6 4.4 5.0 5 .5 10.1 1 1.6 3.7 4.1 4.2 6. 8 5.8 0.4 3 .6 5.4 4 .4 1.0 1.5 4.6 6.3 5.7 3.8 5.5 9.7 1-73 2-73 3-73 4-73 5-73 83,127 83,889 83,917 84,024 84,674 I N I T I A L 1M O N T H P R E P A R E D BY F E C E R A L R E S E R V E J U L Y 6. 1973 PAYROLL EMPLOYMENT C O M P O U N D E D A N N U A L R A T E S OF C TERMINAL MONTH 11-71 12-71 A N G E ___________________________________________________ THOUSANDS OF P E R S O N S INITIAL M O N T H 12-71 1-72 2-7 2 3-72 4-72 5-72 6-72 7-72 8-72 9 - 7 2 1 0 -72 11-72 1 2 -72 1-7 3 2-73 3-73 4-73 5-73 3.2 71,264 71,545 4.8 1-72 4.0 2-72 3.8 4.1 3.4 3-72 4. 1 4.4 4.2 4.9 4-72 3.9 4. 1 3.9 4.1 3.2 5-72 4.1 4.3 4.2 4.5 4.2 5.3 6-72 4.0 4.1 3.9 4.1 3.8 4. 1 2.9 7-72 3.4 3. 5 3.2 3.2 2.8 2.6 1.3 -0.2 8-72 3.7 3.7 3.6 3.6 3.3 3.3 2.7 2.6 71,747 72,033 72,224 72,534 72,705 72,694 5.4 73,016 73,268 9- 7 2 3.7 3.8 3.6 3.7 3.5 3.5 3.1 3. 1 4.8 10-72 3.9 3. 9 3.8 3. 9 3.7 3.8 3.5 3.7 5.0 4.8 5.3 11-72 3.9 3. 9 3.9 3.9 3.8 3.9 3.6 3.8 4.8 4.6 4. 7 4. 2 3.5 3.6 4.4 4. 1 4.1 3.5 12-72 H B ANK O F ST. L O U I S 3.8 3.8 3.8 3.8 3.7 3.7 4. 2 73,584 73,835 74,002 2.7 74,252 1-73 3.8 3.9 3.3 3.8 3.7 3. 8 3.6 3.7 4.3 4. 1 4.1 3.7 3.4 4.1 2-73 4.1 4. 1 4.1 4.1 4.1 4.2 4.0 4.2 4.8 4.7 4.8 4.7 4.9 5.9 7.7 4. 0 4.1 4. 0 4.1 4.6 4.5 4.5 4.4 4.4 5.0 5. 5 3.2 3.9 4. 0 4. 4 4.3 4.3 4.2 4.2 4.5 4. 7 3.2 3.1 3-73 4.0 4. 1 4.0 4. 1 4-73 4.0 4.0 4.0 4.0 3.9 4.0 74,715 74,914 75,105 75.269P 5-73 3.9 3. 9 3.9 3.9 3.8 3.9 3.8 3.9 4.3 4. 1 a .; 4. 0 3.9 4. 2 4.2 3.0 2.9 2.7 6- 7 3 3.9 3.9 3.8 3.9 3.8 3.8 3.7 3.8 4.2 4. 0 4.0 3. 9 3.8 4.0 4.0 3. 0 3.0 2.9 3.2 11-71 12-71 1-72 2-72 3-72 4-72 5-72 6-72 7 -7 2 8-72 9-72 1 0 -72 1 1 -72 12 - 7 2 1-73 2-73 3-7 3 4-73 5-73 P- P R E L I M I N A R Y 75,464P INIT I A L M O N T H P R E P A R E O 8Y F E D E R A L R E S E R V E BANK OF ST. L O U I S 5 EMPLOYMENT RATIO SCALE 1965 RATIO 1966 1967 1968 1969 1970 1971 SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E RI OD S LATEST DATA P L O TT E D: 1972 SCALE 1973 U . S . D E P A R T M E N T OF LABOR INDICATED. JUNE P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 6 UNEMPLOYMENT 1965 1966 1967 1968 1969 RATES* 1970 1971 SOURCE: * PERCENT OF C I V I L I A N LABOR FORCE L A TES T DATA PL O T T E D : U.S. 1972 1973 DEPARTMENT OF LABOR I N GROUP JUNE PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS I N V E N T O R I E S COMPARED WI T H MONTHLY S A L E S * MANUFACTURING AND TRADE 1 .72 1 . 6 8 1 .64 .60 1 . 56 1 .52 1 . 48 1 .44 1 . 40 1. 1 . 36 1959 «RATIOS 1960 1961 1962 1963 BASED ON S E A S O N A L L Y 1964 1965 ADJUSTED DATA. S H A D E D A R E A S R E P R E S E N T P E R I O D S OF AS D E F I N E D BY THE N A T I O N A L B U R E A U LATEST DATA PLOTTED: DATA R E V I S E D PROM > 9 6 9 . MAY 1966 1967 1968 1969 SOURCE: 1970 197 1 U . S . D E P A R TMENT 1972 OF 1973 COMMERCE BUSINESS RECESSIONS OF E C O N O M I C R E S E A R C H . PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 8 Kt-IAIL C H M P Q U N D E D ANNUAL TP9MINAL -w h n t h ----11-71 12-71 -20.6 1- 7 2 -11.I A-72 òALtb P A T F S OF C H A N G F INITIAL MONTH 12-71 1-72 2-72 3-72 A-72 *-72 *-72 7-72 8-72 9-72 MIL L I O N S OF P O L L A W S ---- 10-72 11-72 12-72 i-73 2-73 3-73 4-73 5-73 34 , 8 9 A -0.3 34« 8 8 6 8.0 17.0 7.6 19. 0 10.1 44.7 *.9 1?.S 17.2 17.3 -S.0 9.0 16.1 ?0.7 21.9 H.9 31. 8 f>.l 11.3 13.8 13.1 4.1 9.0 -9.8 7.5 12.3 14.6 14.I 7.5 12.0 3.3 18.3 9.1 13. *; 1 5 . ft 15. A 13.3 14.5 9.2 20.2 35*345 36.450 36*296 37*141 36*822 37*342 22. 1 37*969 T t f m T L .W W -ir-'-ffgrn'M r N 'A'tfV E- f s t i m a t e d PR E P A R E CT'gy F J U L Y 11, 1 9 7 3 E D E R •B A R K ' U F ~ST.~~CD C m r PERSONAL INCOME C Q M P Q U M D E Q A N N U A L R AT-ES..HE .X H A N . G E INITIAL TERMINAL MONTH B I L L I O N S OF n m LARS MONTH ANNUAL 1 2- 71 1 - 72 2-72 3-72 4-72 5-72 6-72 7 -72 8-72 RATES 9 - 7 2 I Q - 7 2 1 1 - 7 2 1 2 - 7 2 ___L £ Z 3 ___2.-J3__ 1 = 1 1 __ h=J2k ___5 = 1 3 892.8 ?Qlt? Ì. 14.0 14.2 16.1 .JtìÀM.I.. _3z72_ 12.3 11.8 11. 5 7.1 -3.Ui.fl 4-72 11 . 3 10.7 10.2 7.3 923,6 5-72 10.3____ 2 jJ ì____ %tSL- 6-72 7.8 0.9 4.7 _ZrI2_ 7.6 6.0 3-72 8.3 7.0 9-7 ? 7.4 11. 8 12.5 7.3 7.8 10.9 1 0.8 9.1 1 4.3 15. 2 951.3 9.6 10.5 13.5 9.9 10. 2 11.0 13 , 6 ___L W 2 ___IA jlJ __ ili. 14.0 10.0 9.4 9.6 9.9 10« 6 12,6 10. 9.7 9.2 9 .6 IQ^.1___U t ft.,. 1 1 » ? ..I k ?___U U 4 ____9_*_§___________ 6 * 9 L 10.0 V«8 9,3 9.5 9.7 10.« A__ LUfr___L U I ___L b J ___L2 jl2----2 * 1 ----_______ L tl __ lAiJL- 10.4 12-72 10.4 ___10. 10.2 6.9 9 .3 10.1 10.7 2- 7 3 7.0 7.4 9.6 10.4 11-72 10 . 927.0 -0,9 5.1 10. 2 10-72 ji-n. 2. 2 5.7 12.9 13.0 21.7 14.3 ? 6 7,.Q J L L L l& _ 7.6 9. 9 11.1 11.1___LO jl?___11*2____ 9*_2____ 8.«A 8 .3 4 -7 3 iO.O 9 . 8 9.7 9.2 9.4 9.5 9.9 11.0 11.0 10.9 11.1 9.4 8 .6 8 .8 5-73 10. 0 9.0 >.6 9.2 9,3 9. 5 9.8 10.8 10.8 10.6 1 0,8 9.3 8 .6 8. 3.6 9.3 9.4 9.5 9 , 9 ___L3-8___1.0*8___1 0* 6 ___1 0 ^ 8___ 9 ^ 5 _ 1-72 2-72 3-72 A-72 .JAtA- A - 72.. AJLl Q. 11-71 12-71 5-72 6-72 7-72 8-72 I N I TIAL 9-72 10-72 _SLt9_ J Ì-2 -A.tiiQl.c3.. 8.9 10.4 ____ 8*8 9.6 liA A l.fe. £ 8 .8 11-72 _25LLdL_ ____ 2 * 5 ____9 a ____ 9 ^ 8____9 ^ ___LQ jl± 12-72 1-73 2-73 3-73 4-73 1 « A 2 I j.j P . 5-73 MONTH p P.'lIMiNAHY P R E P A R E D BV - E D E R A L J U U L _ 1 9 1 197 3 RESERVE B A N K OF ST. L O U I S ___________________ 9 RETAIL RATI O SALES S CALE BILLIONS RATI O OF 1965 SEASONALLY ADJUSTED DOLLARS 1966 1967 1968 1969 BILLIONS 1970 1971 OF 1972 S CALE DOLL ARS 1973 SOURCE« U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED. LATEST OATA PLOTTEOi MAY PRELIMINARY, JUNE ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL RATI O MONTHLY SCALE TRI LLI ONS OF INCOME T O T A L S AT A N N U A L R A T E S SEASONALLY ADJUSTED DOLLARS RATI O TRILLIONS OF SCALE DOLLARS 1.1 1.0 0.9 0.8 0.7 0.6 0.5 0.4 1965 1966 1967 1968 1969 1970 S O URCEt P E R C E N TA G ES LATEST ARE ANNUAL DATA P LO TTE D « OATA R E V IS E D FROM R AT ES JU N E 1970. OF CHANGE FOR P E R IO D S 1971 U .S . 1972 D EPA R TM EN T 1973 OF COMMERCE IN D IC A T E D . P R E L IM IN A R Y PR EP A R E D BY FE D E R A L RESERVE BANK OF ST. L O U IS 10 G R O S S N A T I O N A L P R O D U C T IN C U R R E N T D C L L A R S I Q M P Q U N D E O A N N U A L R A T E S OF C H A N G E TERMINAL QUARTER 3-68 4-68 4-68 7. 0 1-69 7. 4 7.8 2-69 7. 4 7.6 1-69 2-69 3-69 4-69 1-70 1-73 INITIAL QUARTER ANNUAL RATÉi 1-7 1 3-70 4-70 2-71 3-71 B I L L I O N S 0* OOLLARS 4-71 1-72 2-72 3-72 1-73 4-72 890.2 907.0 923.5 7 .5 3-69 7.6 7.8 7 .8 8 .1 4-69 6.7 6.6 6.2 5.6 3.1 5. 1 3.6 941.7 _ 948.9 4.1 958.5 5.1 970.6 1-70 6.2 6.1 5. 7 2-70 6 .1 5. 9 5.6 5.1 4.1 4.6 3-70 6.2 6.1 5. 8 5.5 4.9 5.4 6.1 7. 1 4-70 5.7 5.6 5.2 4.9 4.2 4.5 4.7 4.4 1 -71 6.6 6.6 6.4 6.3 6.0 6.5 7.2 7 .8 8.2 15.1 2-71 6. 7 6.7 6.6 6.5 6.2 6.8 7. 3 7.9 8.1 11.4 7.9 3-71 6. 7 6.7 6.6 6.5 6.3 6.7 7. 2 7.6 7.7 9.8 7.2 4-71 6.8 6.8 6.7 6.6 6.5 6. 9 7.3 7.7 7.8 9.3 7.5 7.3 8.0 ^ + 1 0 . 4 % 1 -7 2 7. 1 7.1 7 .0 7.0 6.9 7. 3 7.7 8.1 8.3 9.6 8.3 8 .4 9.4 10.9 2-72 7.4 7. 4 7.4 7.3 7.3 7.7 8.1 8. 5 8.7 9.9 8.9 9.1 10.0 11.0 987.4 991.8 1.8 1*027.2 1*046.9 6 . 5 ^ ^ 1*063.5 1*084.2 1*112.5 1*142.4 1 1 . 2 " ^ 3-72 7.4 7.5 7.5 7.5 7.4 7.8 8.2 8.5 8.7 9.7 8.8 9.0 9.7 10.2 9.9 8 .7 4-72 7.7 7.7 7.7 7.7 7. 7 8.1 8.5 8.8 9.0 10.0 9.2 9.5 10.1 10.6 10.5 10.2 11.7 1*166.5 1-73 8.1 8.2 8.2 8.2 8.2 8.6 9.0 9.4 S .6 10.5 10.0 10.3 10.9 11.5 11.7 11.9 13.5 15.2 2-73 8.2 8.2 8 .3 8.3 8.3 8. 7 9.1 9.4 9.6 10.4 9.9 10.2 10.7 11.2 11.2 11.3 12.1 12.3 3-68 4-68 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1*199.2 X 1*242.5 9.5 1 1 * 2 7 1 . OP 1-73 INITIAL QUARTER P- P R E L I M I N A R Y P R E P A R E D BY F E O E R A L R E S E R V E J U L Y 2 0« 1 9 7 3 B A N K O F S T. L O U I S G R O S S N A T I O N A L P R O O U C T IN C O N S T A N T 1 9 5 8 D O L L A R S ________ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E ________________________________________________________________ ............. 'fclL L T m OF INITIAL QUARTER OOLLARS TERMINAL QUARTER ANNUAL RATES 3-68 4-68 1-6 9 2-69 3-69 4-69 1-70 2-70 4-68 2.4 1-69 2.9 3.3 2-69 2.5 2.6 3-69 2.4 2.4 1.9 4-69 1.4 1.2 0.5 1-70 0.8 0.5 -0.2 -0.8 -2.2 -2 . 1 S < i 1 % 2-70 J .8 3.5 - J.Q -0.5 -1.3 -0.8 -0.3 0.4 1.7 1.1 | - 0 . 8 -0.4 -0.8 1.9 2.4 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 716.5 722.4 1.9 725.8 1.9 , 729.2 -0.2 ' -2.2 725.1 721.2 0. 5 722.1 3-70 1.0 0.9 0.4 0.2 4-70 0 .4 0.2 0.2 -0.6 1-71 1.3 1.1 0. 9 0.7 0.5 1.1 2-71 1.4 1.3 1.1 1.0 J.9 1.4 2.1 2. 5 2.4 6.0 2.9 3-7 1 1.6 1.5 1.3 1.3 1.2 1.7 2.4 2.7 2.7 5. 1 3.2 3.6 4-71 2.0 1.9 1.8 1.8 1.8 2. 3 3.0 3.4 3 .5 5.5 4.4 5 .1 6.6 \ 1- 7 2 2.2 2.2 2.1 2.1 2. 1 2.6 3.2 3. 6 3.7 5.4 4.5 5.0 5 .7 4.8^"V^ 768.0 2-72 2.6 2.7 2.6 2. 7 2. 7 3. 3 3.9 4.3 4.5 6.1 5.5 6.1 7.0 7.1 9.5 785.6 3-72 2.8 2.9 2.8 2.9 3.0 3.5 4.1 4.5 4.7 6.0 5.5 6.0 6.7 6.7 7.6 4-72 3.1 3.2 3.2 3.3 3.4 3. 9 4.4 4.8 5.0 6.3 5.9 6.4 6.9 1-73 3. 4 3.5 3.5 3. 6 3. 7 4.2 4.8 5.2 5 .4 6.5 6.2 6.7 7.2 7.3 8.0 7.5 8.4 2-73 3. 4 3.4 3.5 3.6 3.7 4.1 4.6 4.9 5.1 6. 1 5.8 6.2 6.5 6.5 6.9 6.2 6.4 5.6 3-68 4-68 1-69 2-69 3-69 4-69 1- 7 0 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 727.2 2.2 t 719.3 > 9.1 740.4 746.9 +6.1% « • o INITIAL 735.1 759.0 5.8 6.9 796.7 8.1 \ 812.3 829.3 2 . M 8 3 4 . 6P 1-73 QUARTER P- P R E L I M I N A R Y P R E P A R E O BY F E D E R A L J U L Y 2 0, 19 7 3 RESERVE B A N K OF ST. L O U I S 11 DEMAND RATIO SCALE TRILLIONS AND QUARTERLY OF D O L L A R S PRODUCTION T O T A L S AT A N N U A L RATIO RATES SEASONALLY ADJUSTED TRILLIONS SCALE OF D OL L A R S 1.4 1.3 1 . 2 1.1 1 . 0 0.9 0.8 0 . 0.7 0 . 0.6 0.5 0 . 1965 1966 1967 1968 1969 U.6NP I N CURRENT DOLLARS. 1970 SOURCEt 1971 U .S. 1972 1973 DEPARTMENT OF COMMERCE 12.6NP I N 1 9 5 8 DOLLARS. PERCENTA8ES ARE ANNUAL RATES OF CHANCE FOR PE R I ODS LATEST DATA PLOTTED« 2ND QUARTER DATA R E V I S E D FROM 1 9 7 0 . INDICATED. PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 12 C O M P E N S A T I O N PER M A N - H O U R » TOTAL P R I V A T E E C O N O M Y _________ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E 3-68 4-68 1-6 9 2-69 3 - 68 8.9 4-68 8.8 8. 7 1 -69 7. 9 7 .3 5.9 2-69 7.9 7.6 7.0 3.1 3 -69 7.8 7.5 7.0 7.6 7.2 4-69 8.1 8.0 7.8 8. 4 8.5 3-69 4-69 1-70 2-70 u> I 0 INITIAL 2-68 QUARTER * 1 -4 O TERMINAL QUARTER 1 9 6 7 - 100 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 108.6 110.9 112.5 114.7 116.7 9.9 119.5 1-70 7.9 7. 8 7.6 8 .0 8. 0 8. 4 6.9 2-70 7.7 7.5 7.3 7.6 7.5 7. 6 6.5 6.1 3-70 7.9 7.8 7.6 7.9 7.9 8.1 7.4 7.7 9.4 121.5 123.3 126.1 4-70 7.6 7.5 7.3 7 .5 7 .4 7.5 6. 9 6.9 7.3 5 .2 1-71 7.8 7. 7 7.5 7.7 7.7 7 .8 7.4 7.5 8.0 7.3 9.4 ?-71 7.6 7.5 7.4 7.5 7.5 7. 5 7.1 7.2 7.5 6.8 7.7 5.9 127.7 130.6 132.5 3 -71 7.5 7.4 7.2 7.4 7.3 7. 3 6.9 7.0 7.1 6.6 7.1 5.9 5.9 4-71 7.3 1.2 7.0 7. 1 7. 1 7.0 6.7 6.7 6.8 6.2 6.5 5.6 5.4 4.8 1-72 7. 4 7.3 7.1 7.3 7.2 7.2 6. 9 6.9 7.0 6.6 6.9 6.3 6.4 6.7 134.4 136.0 138.8 8.5 140.7 2-72 7.3 7.1 7.0 7.1 7.0 7.0 6.8 6.7 6.8 6.5 6.7 6. 1 6.2 6.3 7.0 5.6 3-72 7.1 7.0 6.9 6.9 6.8 6.8 6.5 6.5 6.5 6.2 6.3 5.8 5 .8 5.8 6.1 5.0 4.3 4-72 7.1 7.0 6. 9 7. 0 6 .9 6.9 6.7 6.6 6.7 6.4 6.6 6.2 6.2 6.3 6.6 6.0 6.2 8.1 1 - 73 7.4 7.3 7.2 7.3 7 .2 7.2 7.0 7.0 7.1 6.9 7.1 6.8 6.9 7.1 7.6 7.3 7 .9 9.8 11.5 2-68 3-68 4-68 1-69 2-69 3-69 4-69 T - 7 J T 2-70 5-70 4-70 1-7T 2-71 3-7r 4 -r r 1-72 2-72 3-72 4-72 142.2 145.0 149.0 I N I T I A L U U A R 1 tR P R E P A R E D BY F E D E R A L M A Y 29, 1 9 7 3 RESERVE B A N K OF ST. L O U I S O U T P O T PfcR M A N - H O U R , T O T A L P R I V A T E fcCUNUMY C O M P O U N D E D A N N U A L R A T E S OF C H A N G E 1 9 6 7 * 100 INITIAL 1 QUARTER TERMINAL Qu a r t e r 2-68 3-68 2.4 4-68 2.0 3-68 4-68 1- 6 9 2-69 3-69 1-70 4-69 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 103.3 103.7 1.6 103.6 1-69 1.2 0.6 -0.4 2-69 0.7 0.1 -0.6 -0.8 0.7% 103.4 103.3 3-69 0.5 0.0 -0.5 -0.6 -o.; 4-69 0.3 -0.2 -0.6 -0.6 -0.6 -0.8 103.1 1-70 0.1 -0.3 F ^ l -0.8 -0.8 -1.0 102.8 2-70 0.6 0.3 0.1 0.2 0.5 0 .8 1.6 w 103.9 3-70 1.2 1.1 1.0 1.3 1.7 2.2 3. 2 5.5 6.7 4-70 0.9 0.8 0.7 0.8 1.1 1.4 1.9 3.0 2.3 -1.9 1 -71 1.5 1.4 1.4 1.6 2.0 2.4 3.0 4. 1 4.0 2.7 7.4" 105.6 105.1 107.0 2-71 1.6 1.5 1.5 1.7 2.0 2.4 2. 9 3.7 3.6 2.5 4.8 2.3 ^ + 4 . 1 % 107.6 3 - 71 1.7 1.7 1.7 1.9 2. 2 2.5 3.0 3.7 3.5 2.7 4.3 2.8 3 . 4 ^ 108.5 4-71 1.8 1.8 1.8 2. 0 2.3 2.6 3.0 3.6 3.5 2.9 4.1 3.0 3.4 1C9.4 1-72 2. 0 1.9 2.0 2.2 2.4 2.7 3.1 3.7 3 .6 3.1 4 .1 3.3 3.6 3.7 4.1 2-72 2.2 2.2 2.3 2.5 2.8 3.1 3.4 4.0 3 .9 3 .5 4.5 3.9 4.3 4.6 5.2 6.3 2.6 2.9 3.1 3.5 4.0 3.9 3.6 4.4 3.9 4.2 4.4 4.8 5.1 3.4 110.5 112.2 113.3 2.3 2.4 i 4.0 2.5 2.5 2.5 2.7 3.0 3.2 3.6 4.0 4.0 3.7 4.4 4.0 4.3 4.5 4.8 5 .0 4.3 4.7 1-73 2. 6 2.6 2.7 2.9 3.1 3.4 3.7 r z r \ 4.1 3.8 4.5 4.1 4.4 4.6 4.8 5.0 4.5 4.8 4-60 1-69 2-69 3-69 4-69 Z-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 -4 Nl 3-72 2.3 2-S8 1-70 114.6 5 ^ \ 116.0 4-72 INI 11AL UUAK'T EH PREPARED BY FEDERAL "RESERVE ~ B S fl'in 3 F S T . M A Y 29, 197 3 CQUTT 13 PRODUCTIVITY, KAT I O COMPENSATI ON, AND LABOR COSTS SCALE RATI O SCALE SEASONALLY ADJUSTED 1967-100 1965 1966 1967 1968 1969 1967-100 1970 1971 SOURCE« PE R C E N TA G ES ARE LATEST PLO TTED . DATA ANNUAL R A T ES 1ST OF CHAMCE FOR P E R IO D S 19 7 2 U .S . 1973 D EPARTM EN T OF LABOR IN D IC A T E D . QUARTER PR EP AR E D BY FE D E R A L R ES ER V E BANK OF ST. L O U IS U N I T L A B O R C O S T S » T 0 T A L P R IV A T t E C O N O M Y C O M P O U N D E D A N N U A L R A T E S OF C H A N G E 2-68 3-68 4-68 1- 6 9 2-69 3-69 4-69 1-70 2-70 3-70 Q U A R T E R _______________________________________________________________________1 9 6 7 « 1-71 2-71 3-71 4-71 l M ___________________________________ I N I T I A L (TOWER * I o TERMINAL 2-72 3-72 105.1 3-68 6. 3 4-68 6.7 7.0 106.9 1-69 6.6 6.8 6.5 2-69 7.1 7.4 7.6 8.7 3-69 7.2 7.4 7.6 8.1 7.4 4-69 7. 8 8.1 8.3 8.9 9.0 108.6 110.9 112.9 10.7 1-7 0 7.9 8.1 8 .4 8.8 8.9 9.6 8.6 7.1 7.2 7.2 7.4 7.0 6.9 5.1 1.7 3-70 6. 6 6.6 6.5 6.5 6.1 5.8 4. 2 2.0 2. 4 * I o 115.8 2-70 6.6 6.7 6.6 6.6 6.3 6.0 4. 9 3. 7 4.8 7.2 1-71 6. 2 6. i 6.0 6.0 5.6 5.3 4.3 3.2 3.7 4.4 2-71 6. 0 5.9 5.8 5.8 5.4 5.1 4. 2 3. 4 3 .8 4.3 2.8 4.0 3 -71 5.7 5 .6 5.5 5.4 5.0 4.8 3.9 3.2 3.5 3.8 2.6 3.1 4-71 5.3 5.3 5.1 5.0 4.6 4.3 3.6 2.9 3.1 3.2 2.2 2.4 1.6 1.0 1-72 5. 3 5.2 5.1 5.0 4. 7 4.4 3. 7 3.1 3.3 3.5 2.8 3.0 2. 7 2.9 4.9 2-72 4.9 4.8 4. 7 4.6 4.2 3.9 3.3 2.7 2 .8 2.9 2.2 2.3 1.9 1.7 2.1 -0.6 3-72 4. 6 4.5 4. 4 4.2 3.9 3.6 3. 0 2. 4 2.5 2.5 1.9 1.9 1.5 1.3 1.4 -0.3 0.0 4-72 4. 6 4.5 4.3 4.2 3.8 3.6 3.0 2.5 2.6 2.6 2.0 2.1 1.8 1.7 1.9 0.8 1.6 3.2 3.8 3.3 2.8 2.9 3.0 2.5 2.6 2.4 2.5 2.8 2.2 3.2 4.8 3-69 4-69 I-Ti " 2-70 3-70 4-70 1-7 1 2-71 3-71 4-71 1- 7 2 2-72 3-72 1-73 100 4-72 4. 7 4.6 4.4 4.3 4.0 2-68 3- 6 8 4-68 1- 6 9 2-69 118.2 118.7 119.4 121.5 1.7 122.0 123.2 -¡ J+*9 . 0A %/O-r 2.3 123.9 124.2 125.7 125.5 125.5 PREPARED BY FEDERAL RESERVE MAY 29, 1973 126.5 6.5^ 128.5 4-72 BÀNK Of ST. LOUIS 14 C O N S U M E R PRICE INOEX* COMPOUNDED ANNUAL SEASONALLY ADJUSTED R A T E S OF C H A N C E MONTH -H 12-71 12 71 1-72 2 72 3 72 A - 72 5-72 6*72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 5-73 .1 123.06 1-72 3.0 123.36 2-72 .3 A.A 5.9 123.95 3-72 .5 3.3 J.5 1.2 A - 72 •3 3.1 3.1 1.7 2.2 3.2 3.2 2. A J.J 3.7 2.1 2.«5 2.6 1.5 3.1 3.3 3.1 5-72 •3 fc-72 •1 2.4 2.9 1-12 •3 3.2 3.2 2.7 124.07 124.30 12A.68 124.83 i V, 4.8 125.32 8-7 2 •3 3.2 3.2 2.8 3.1 3.3 3.2 4.1 3.3 9-72 •5 3.A 3.5 3.1 3.A 3.7 3.7 4.4 4.2 5.2 1J-72 •3 3.5 3.5 3.2 3.5 3.8 3.d 4.3 4.2 4.6 125.66 126.19 4.1 126.61 11-72 .5 3.3 3.5 3.3 3.5 3.7 3.7 4.2 4.0 4.3 3.8 3 . 6 s n s^ + 5 . 9 % 12-72 •A 3.A 3.A 3.2 3. A 3.6 3.5 3.9 J.7 3. d 3.4 3.J 2 . 5 V 1 2 7 . 2A 1-73 •A 3.A 3.7 3.5 3.7 3.a 3.9 4.2 4.1 4.3 4.0 4.0 4.3 6.1 127.87 2-73 •0 A.G A. 0 3.9 A. 1 A.3 A.A 4.7 4.7 5.0 4.9 5.2 5.7 7.3 3-/3 •A A.A A.5 A.A A.7 A.9 5.0 5.4 5.5 5.8 5.9 6.3 7.0 8.6 9.8 11.1 A - 73 •o A. 6 A.7 <».6 A.9 5.1 5.3 5.7 5.8 6.1 6.2 6.6 7.2 8.4 9.2 9.4 7.8 5-73 .7 A.8 A.9 A.d 5.1 5.3 5.A 5.8 5.9 6.2 6.3 6.7 7.2 8.2 8.7 8.7 7.6 fc-7i •9 A. * i.O 5.0 5.2 5. A 5.6 m 6.0 6.3 6*4 6.7 7.2 8.0 8.3 8.3 7.4 7.! 71 I 72 2-72 3- 72 A-72 5-72 7-72 8-72 9-72 1 0 - 7 2 1 1 - 7 2 1 2 - 7 2 1-73 2-73 3-73 4-73 11 -71 12 r 6-72 126.98 V PREPAREO JULY 20* WHOLESALE PRICES - TERMINAL MONTH COMMODITIES* INITIAL 11-71 12-71 INDUSTRIAL 12-71 1-72 2-72 3-72 A-72 5-72 6-72 7-72 8-72 SEASONALLY 128.75 8V F E O E R A L 1973 129.88 130.70 131.47 RESERVE I 132.21 ST. LOUIS 5-73 BANK OF ADJUSTED 1967 * MONTH 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 115.48 3.A 115.84 1-72 3.6 3.3 2-72 A.O A.3 A.9 3-72 3.9 A. 1 A.2 3.6 4-7 2 A.O A. 1 A.2 3.0 A.3 5-72 A.O A. 1 A.2 A. O A.2 A.2 6-72 A .1 A. 2 A.3 A. 1 A.3 A.3 A.5 7-72 3.9 A.O A.O 3 . rt 3.9 3.8 3.6 2.7 8-72 3.9 A.O '«.0 3.9 A. O 3.9 3.8 3.A 4.1 9-72 3.9 3.9 3.9 3.8 3.9 3.8 3.7 3.A 3.8 116.30 116.64 117.05 117.45 117.88 118.14 118.54 3.4 118.87 118.93 10-7? 3.6 3.6 3.6 3.-* 3.A 3.2 3.1 2.7 2.7 2.0 0.6 11-72 3.7 3.7 3.7 3.6 3.6 3.5 3.3 3.1 3.2 2.9 2.7 4 •8 12-72 3.5 3.6 ^.5 3.A 3.A 3.3 3.1 2.9 3.0 2.7 2.4 3.4 1.9 1-73 3.5 3.6 3.5 3. A 3.A 3.3 3.2 3.0 2.1 2.9 2.7 3.4 2.7 3.6 A.? A.2 A. 1 5.5 5.8 7.8 2-73 A. 1 A. 1 A. Z 4.1 A.2 4.3 4.3 A.5 r i s 119.40 119.59 k*s s s + 1 0 . 2 % 12.1 119.94 121.09 X 3-73 A.8 A.9 A.9 A.9 5.0 5.1 5.2 5.3 5.6 5.P 6.3 7.4 8.1 10.2 13.7 15.2 A - 73 5.A 5.* 3.7 5.8 5.9 6.1 6.2 6.4 6.a 7.2 7.7 9.0 9.8 11.9 14.8 16.1 17.0 5-73 6.0 6. 1 5.3 6. A 6.6 6.8 7.0 7.2 7.7 8. 1 8.7 9.5 10.7 12. 6 14.9 15.9 16.2 15.5 13.9 12.4 1 4-73 5-73 6-73 100 5-73 6.3 6.5 6.6 11-71 12-71 1-72 ■..... ...... ..... 6. 1 2-72 122.53 7.0 7.1 7.A 7.6 6. 1 8.5 9.1 1 10.2 11.0 12.5 14.4 15.0 14.9 3-72 A-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 initial month JULY 6 . 1973 124.14 125.64 126.87 15 RATIO PRICES SCALE 1 9 6 7 -1 0 0 1965 SEASONALLY 1966 1967 1968 ADJUSTED 1969 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO DS L A TE S T DATA P L O TT E D* RATIO 1970 SCALE 1 9 6 7 -1 0 0 1971 1972 1973 INDICATED. JUNE PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 1 6 WHOLESALE PRICES - ALL COMMODITIES* SEASONALLY AOJUSTED ________________ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E ___________ T E R M I N A L ___________________________________________________________________I N I T I A L M O N T H ___________________________________________________________________ 1967 » 100 MONTH 1 1 - 7 1 1 2 -71 1-7 2 2-72 3-72 6-72 4-72 5-72 7-72 8-72 9-72 10-72 11-72 12-72 5-73 1-73 2-73 3-73 4-73 12-71 7.1 1-72 6.1 5.2 2-72 6.3 5.9 3-72 5.2 4.6 <i.3 2.1 4-72 4.9 4. 3 4.0 2.8 3.4 5-72 5.1 4.7 4.6 3.9 4.8 6.2 6-72 5.1 4.7 4.6 4.2 4.9 5.6 5.0 7-72 5.5 5.3 5.3 5.0 5.7 6.5 6.7 8.4 8-72 5. 7 5.5 5.5 5.4 6.0 6.7 6.8 7. 6 7.2 113*75 116.24 6.6 116.86 117.06 117.39 117.98 118.46 119.26 119.95 9-72 5 .7 5.5 5.6 5. 4 6.0 6.5 6.6 7.2 6.6 6.0 10-72 5.2 5 .0 5.0 4.8 5.2 5. 5 5.3 5.4 4.5 3.1 0.4 11-72 5.5 5.3 5.4 5.2 5.6 5.9 5.9 6. 1 5.5 4.9 4.4 120.53 120.57 8.6 121.40 12-72 6.5 6.5 b. 6 6.6 7.1 7.6 7. 8 8.3 6.3 8.5 9.4 14.2 20.1 1-73 b.9 6.9 7.1 7.1 7.6 6.1 8. 3 8 .6 8.9 9.2 10.1 13.5 16.0 1 2 . 0 ‘X v ^ 2 0 . 2 % 124.64 2-73 7.3 7.0 8.1 3.2 6. 8 9.3 9.7 10.2 10.5 11. 1 12.1 15.3 17.6 16.3 126.42 3-73 9.1 9.3 9.6 9.8 10.5 11.1 11.6 12 . 4 12.9 13.8 15.1 18.3 20.9 21.1 26.0 31.3 4-73 9.3 9.5 9.8 10.0 10.6 11. 2 11.7 12.4 12.9 13.6 14.7 17.3 19.1 18.9 21.2 21.4 1 2.3 5-73 10.3 10.4 10.S 11.1 11.7 12. 4 12. 9 13.7 14.2 15.1 16.2 18.7 20.5 20.5 22.8 23.4 19.7 27.5 6-73 11.3 11.5 li.9 12.2 12.9 13.7 14.3 15.1 15.7 16.6 17.8 |20.2 22.0 22.3 24.4 25.3 23.4 29.3 31*2 I 11-71 12-71 1-72 2-72 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 5-73 TWITOl 123.27 W H O L E S A L E P R I C E S - P A R M PRO O U C T S AND P R O C E S S E O F O ODS AND FEEDS* C O M P O U N D E D A N N U A L R A T E S OF C H A N G E 12-71 130.58 133.25 SEAS. RESERVE B A N K O F ST. LOUIS ADJ. INITIAL MO N T H 12- 7 1 1-72 2-72 3-72 4-72 5— 72_ ¿-7? 7-7 2 136.30 H O 'n T h P R E P A R E D BY F E O E R A L J U L Y 6* 1 9 7 3 TFRMINAL MONTH 11-71 129.32 8-72 9-72 1967 * 100 10-72 11-7? 12-72 1-73 2-73 3-73 4-73 5-73 19. 3 116.7 1-72 12.6 6.3 2-72 12.4 9. 1 117.3 11.9 118.4 3-72 9.1 £>•0 5.8 0.0 4-72 7.5 4.7 4.2 0.5 1.0 118.4 118.5 5-7 2 8. 0 5.9 5.7 3.8 5.7 10.6 6-72 7.7 5. V 5.8 4.4 5.9 8 •A 6.2 7-72 9.5 8.2 9.5 7.9 9.9 13.1 1 4.3 23.1 8-72 1 0.3 9.3 9. 7 9.3 11.3 14.0 15.2 20.0 16.9 9-72 11. 1 10.2 10.7 10.5 12.4 14.8 15 . 8 19.2 17.3 17.8 10-72 9.6 8 .7 9.0 8 .0 9.9 11. 4 1 1.6 13 . 0 9.8 6.5 -3.8 11-72 10.5 9.8 10.1 V .9 11.2 1 2.8 13.1 14. 6 12.5 11. 1 7.9 21.0 1 2- 7 2 14.7 14.3 15. 1 1 5.4 17.2 1 9.4 20.8 23.4 23.4 25.1 27.7 47.0 78.7 1-73 16. 1 15.0 16.7 1 7. 2 19.0 21.2 22.6 25.2 25.5 27.3 29.8 43.4 56,2 36.4 2-73 17. 7 17 . 6 l*>5 19.1 21.0 23.2 24.7 27.2 27.8 29.7 32.2 43.2 51.5 39.4 42.5 3-73 20.9 21.0 22.1 22.9 25.1 27.5 29.4 32.2 33.4 36.0 39.3 49.9 58.2 51.9 60.3 80.3 4-73 19.6 19.0 20.6 2 1.2 23. 0 2 5. 1 26.5 28.7 25.3 31.0 33.0 40.3 44.6 37.1 37.3 34.8 5-73 21.6 21.8 22.8 23.6 25.5 27.6 29. 1 31.4 32.3 34.1 36.3 43.3 47.4 41.8 43.2 43.4 27.9 62.3 6-73 24.2 24.4 25.6 26. 5 29.5 30.7 32.4 34.9 36.0 38.1 40.5 47.4 51.6 47.5 49.8 51.7 43.2 70.6 79.4 11-71 12- 7 1 1-72 2-72 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 5-73 119.5 120.1 122.2 123.8 125.5 125.1 127.1 133.4 136.9 141.0 148.1 0.8 148.2 154.3 162.0 INITIAL M O N T H PREPARED BY FEOERAL RESERVE JU LY 6 . 1973 ____ BANK GF S T . LOUIS 17 RATIO WHOLESALE SCALE 1965 1966 1967 1968 PRICES 1969 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S LA T E S T DATA P L O T T E D : 1970 RATIO 1971 1972 SCALE 1973 INDICATED. JUNE PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 1 8 GENERAL PRICE INDEX* R A T I O SCALE R A T I O SCALE 1958*100 1956-100 PERCENTAGES ARC ANNUAL RATES OF CKANif P M P U I O S I IM I C A TEA. LATEST IATA PLSTTESi INS QUARTER P W L IMIIIMV PREPARES IV FESERAL RESERVE SANK SP ST. LOUIS IMPLICIT P R I C E D E F L A T O R FOR G R O S S N A T I O N A L P R O DUCT __________________________ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E __________________________ T E R M I N A L __________________________________________________________________ I N I T I A L Q U A R T E R ___________________________________________________ QUARTER 4-72 3-69 4-69 2-71 1-69 2-69 3-70 4-70 4-71 1-72 2-72 3-72 r * u 68 4 - 6 8 1-71 3-71 1-70 2-70 ~............. r ^ s v + 4 .8 % 4*68 4.6 j ___ 19 5 8 « jpp 1-73 12*.26 125.55 1- 6 9 4.4 2-69 4.8 4. 9 5.5 3-69 5.1 5.3 5 .8 4.2 127.24 I 6.1 \ + 6 . 0 % 4-69 5.2 5.3 5 .7 5.8 5. 5 1-73 5. 4 5.5 5. 9 6.0 5.9 1 2 9 . 1 4 ____ 130.88 6 ^i 132.91 1 v 2-70 5.3 5.4 5.6 5. 6 5.5 5. 5 1 4. 6 3-70 5.1 5. 2 5.4 5.3 5.1 5.0 4.3 4.1 4-70 5. 3 5.3 5.5 5. 5 5.4 5.3 5 .0 5.2 6.4 134.41 Sn\ + 5 . 1 % I ■"1 135.77 137.88 i -71 5.3 5.4 5.5 5.5 5.4 5. 4 5. 1 5.3 5 .9 5 -sV v 2-7 1 5.2 5.3 5.4 5.4 5. 3 5. 3 5.1 5.2 5.6 5.2 4.9 139.73 3 -7 1 5.0 5.1 5. 2 5.1 5. Û 4.9 4.7 4.7 4.9 4.4 3.8 ;.8 S 4-71 4.7 4.8 4. 8 4.7 4.6 4.5 4.2 4. 1 4.2 3.6 3.0 2.1 l.3S 1-72 4.8 4.8 4. 9 4.8 4.7 4.6 4. 4 4.4 4.4 4.0 3.7 3.3 3.5 5.7 2-72 4.6 4.6 4.6 A.6 4.A 4.3 4.1 4.0 4.0 3.6 3.2 2.8 2.8 3.6 3-72 4.5 4.5 4. 5 4.4 4. 3 4.2 3.9 3.9 3.8 3.5 3.2 2.8 2.8 3.3 2.2 2.8^s^ 146.42 4-72 4.4 4.4 4.4 4.3 4.2 4.1 3.9 3.8 3.8 3.5 3.2 2.9 2.9 3.3 2.6 3.1 3.3 147.63 4.2 4.1 4.0 4.0 3.8 3.5 3.4 3.4 4.0 4.7 141.40 142.39 142.85 144.85 1.6^x^ 145.42 1-7 3 4.5 4.5 4. 5 4.5 4.3 3.4 3.9 6 . o \ ^ 149.81 2-73 4.6 4.6 4.6 4.6 4.5 4.4 4.3 4.3 4 .3 4.1 3.9 3.8 3 .9 4.4 4.1 4.7 5.4 6.4 1 5 2 . 30P 3-68 4 68 I 69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 6.8f 1-73 P- P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JU LY 2 0 , 1973
@FedFRASER