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n n n o n n L economic r c i i d s
t
PREPARED

MONTH ENDING:

BY

FEDERAL

September 30, 1972

RESERVE

BANK

OF ST. LOUIS

RELEASED:

October 26, 1972

Total spending for goods and services increased at an
8.2 percent annual rate from the second quarter of 19 72 to the
third quarter. Real product advanced much more rapidly than
prices during the period. Real product increased at a 5.9 per­
cent rate from the second to the third quarter and prices rose
at a 2.2 percent rate.
The GNP data for the past two quarters indicate that
output growth has accelerated, while the rate of price increases
has slowed. Real product increased at a 7.7 percent rate from
the first quarter of 19 72 to the third quarter, compared with a
6.6 percent rate of increase in the two preceding quarters.
Prices, as measured by the implicit GNP deflator, increased at a
2 percent rate in the two-quarter period just ended, after
advancing at a 3.3 percent rate from the third quarter of 1971
to the first quarter of 19 72.
Monthly data for production, employment and prices
indicate a somewhat different pattern of economic activity in
recent months. In particular, industrial production and payroll
employment increased at about the same rates in the latest sixmonth period as in the preceding half-year, and prices rose at a
more rapid pace in the latest six-month period.
Industrial production increased at a 7.3 percent rate
from March 19 72 to September, after rising at a 7.8 percent rate
in the preceding six months. Payroll employment increased at a
3.4 percent rate in the six-month period ending in September,
compared with a 3.3 percent rate of increase in the preceding
six months. Unemployment relative to the civilian labor force
averaged 5.7 percent in the six-month period ending in September,
compared with a 5.9 percent average over the six-month period
ending in March.
Consumer prices rose at a 3.4 percent rate from March
to September, after increasing at a 3.1 percent rate in the pre­
ceding six months. Wholesale prices of industrial commodities
increased at a 4.1 percent rate from March to September,
compared with a 2.4 percent rate of advance in the six-month
period ending in March. Wholesale prices of all commodities
rose at a 5.8 percent rate in the six-month period ending in
September, after increasing at a 4.2 percent rate from September
1971 to March.




2
TOTAL

CIVILIAN

EMPLOYMFNT

. & D M P fli m E D ANNUAL RATES 0* CHANGE.
OF

MONTH

7

3-71

5-71

4-71

6-71

7-71

8-71

9-71

i n-7i

11 .7 1

1-72

12 -7 1

2-72

3-72

4-72

5-72

6-72

7-72

7 8 t 4 4 * ...

* » - 71
4-71
_

PE RS O NS

8-72

4 .5

7 8 .7 3 2

5-71

1.5

0.8

-1 .0

-3 .4

7-71

2.2

.1-4

1.4

6 .5

7 9 .0 1 4

*-71

2 .3

1.8

1.9

4.7

7 9 .1 9 9

9-71

-

3.0

6-71

7 8 .8 3 0
7 8 .6 0 0

P \

2 . ft

2.2

9 .4

4 .4

3.4

10-71

3.0

*>. *

3 .1

4. A

4 .2

4 .9

5, 9

11-71

3.0

9. M

3 .0

4 .4

3 .9

4.2

4, 4

17-71

?. <
?

2.6

7. f
\

3.A

3 .3

3 .4

1 . •a

? .o

,

1-7 ?

3. /,

3.2

3.5

V .5

4. 1

4 .4

4.

4.1

4.7

8.4

?-79

3.0

7 .9

’ .0

3.9

3 . «?

3.6

A

3 .0

3 .0

4.0

-0 .2

4. c

4 .3

4.5

4 , ft

4.3

4.6

«;.8

4 .6

3.7

3.8

3, o

** . *

3.6

4 .2

?. 9

4 .4

- 0 .*

’ . ft

3 .7

3. 7

3.4

3 .S

3.9

9 .8

3 .9

1.1

*.ft

3. *
5

4-7?

3 .2

3.1

*-7?

3. ?

3.1

3 .3

.

3.*»

_

7 9 .8 3 2
’ .9

8 0 .0 2 0
X

8 0 .0 9 8
s ^ + 3 .7 %

7,7

3-7?

7 9 .4 5 1

3^9

8 0 .6 1 6
8 0 .6 2 3
81 .2 41
8 1 .2 0 5

2.8

81 .3 9 4

A -7 9

3.*»

3.9

3.3

3 .0

3 .7

3 .»

-> ^ 7

3 .A

4 .A

3.1

3.9

2.1

3.5

4.1

7 —7?

?. 1

3.0

3.1

9. A

3 .4

3 .4

7. 4

■». 1

’ .I

3 .4

2.6

3 .2

1.6

2.4

2.1

0.2

B-7?

3. 7

*» . 1

3 .9

3 .7

3. « ?

3 .5

3 « «;

3.9

3.3

3.5

2.9

3.4

2.2

2.9

2.9

2.3

4 .4

9-7?

* . 7

■».!

3.2

i m

3 .5

3.5

3. 5

3 .3

3.3

3.6

3.0

3.4

2.4

3.0

3.1

2^7

4 .0

3.7

5-7]

f-7 1

7-71

8-71

10-71

11 - 7 1

12 -7 !

1-72

2-72

3-72

4-72

5-7?

6-72

7-72

8-72

3-71

2

4-71

..

9-71

f M I T f AL

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

\

8 2 .2 2 2

MONTH

PREPARFO BY PPDEPAL RESERVE BANK OF ST. LOUIS
OCTOBER ft. I«*??
PAYROLL EMPLOYMENT
C Q M P C U N D E O ANNUAL RATES OF CHANGE ___________ _________________________ '
TERMINAL
MONTH

_________________
THOUSANOS
OF PéRSONS

IN IT IA L MONTH
2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71 10-71 11-71 12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72
70.299

3-71

0 .6

4-71

1.7

2 .8

5-71

2 .2

3.0

70*461
70*643

3 .1

1.3

1.6

1.0

-1 .2

0 .9

1 .0

0 .4

- 0 .9

-0 .7

8-71

0 .8

0 ,9

0 .4

- 0 .5

9-71

1 .4

1.6

1.3

0 .9

10-71

1.3

1.4

1.1

0 .7

1.6

11-71

70.574
70.532

<
M
0
1

6-71
7-71

0 .3

1.5

2 .7

5.1

1.2

1.9

2 .7

Of 3

1.3

1.8

2.4

3.2

2>2

r

70.548

\

70.843
70.861
4.2

71.103

12-71

1.8

1 .9

1.8

1.6

2 .0

2.6

3.2

2 .6

3.7

3.2

1-72

o
<J
V

2 .1

2.1

1.9

2.4

2 .9

3 .4

3*Q

4 .0

3.8

4 .5

2-72

2.1

2« 2

2 .2

2 .1

2.5

3 .0

3.4

3.1

3«_8

3 .7

3.9

71.291
_

_ i ^ mat
3 . 5 /b

71.552

3 .3

71.744

3-72

?• 4

2.4

2 .3

2 .7

3.2

3 .6

? t3

3 .9

3.9

4.1

3 .9

4-72

2 .4

2 t*

2.5

2 .5

2.8

3.3

3 .6

3t4

3.9

3 .9

4.1

3 .9

4 .3

4 .0

5-72

2 .6

2*9

2 .8

2.8

3.1

3.5

3 .9

3 .7

4 .2

4 .2

4 .4

4 .4

4 .8

4 .9

6-72
....

2.3

4 .6

2.6

2.7

2.7

2 .7

3.0

3 .4

3 .7

3.5

3.9

3.9

4 .0

3 .9

4 .0

3 .9

3.8

1.8

7 - 7 * .... .2* 4

2 t?

2.5

2 .4

2 .7

3 .0

3.3

3« 1

3.4

3 .3

3.3

3.1

3.1

2 .7

2 .3

0 .6

-0 .6

2 .6

2 .9

3.2

3 .4

3.2

3.6

3 .5

3 .6

3.4

3 .5

3.3

3.1

2 .2

2 .3

5 .4

1 3 .s l

3.4

3.6

3.6

3 .6

3 .5

3 .6

3 .4

3 .3

2.6

2 .9

4 .7

4 .0

9-71 10-71 11-71 12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72

8-72

2 .6

2»7

2 .7

9-72

2 .6

2 .8

2 .7

2 .7

3 .0

3 .3

2-71

3-71

4-71

5-71

6-71

7-71

8-71

72.011
72.246
5 .9

72.592
72.699
72.661
72.980P
73.221P

IN IT IA L MONTH
P - PRELIMINARY




""

“

-----------

"

PREPAREO BY FEOERAL RESERVE BANK OF S T . LO UIS
OCTOBER 6 , 1972

3

EMPLOYMENT
RATI O

SCALE

MI LLI ONS

RA T I O

OF PERSONS

SEASONALLY

MI LLI ONS

ADJUSTED

S OU R C E :

PERCENTAGES
LATEST

ARE ANNUAL

DATA P L O T T E D ;

DATA FOR PA Y R OL L




RATES

OF CHANGE FOR P E R I O D S

SEPTEMBER

EMPLOYMENT

OF PERSONS

U.S.DEPARTMENT

OF LABOR

INDICATED.

P R E L I M 1NARY

REVISED

FROM FEBR UA R Y

1971.

PRE PARED BY F E D E R A L R E S ER V E BANK OF S T.

SCALE

LOUIS

4

INDUSTRIAL
COMPOUNDED

ANNUAL

T E R M I N A L _________________________________________________________________________________________ I N I T I A L

PRODUCTION
RA TE S

OF

C HA N GE

MONTH______________________________________________________________________________________

1967

=

100

MHNTH
2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

10-71

11-71

12-71

i- 7 2

2-72

3-7?

4-72

5-72

6-72

7-72

8-72

3-71

-2.2

4-71

2.<9

3. 3

106.2

5-71

6.6

11.3

107.4

6-71

4.9

7.4

7.0

0.0

7-71

2.5

3.7

2.3

-3.3

-6.5

9-71

-0.2

0.?

-1.7

-6.5

-9.6 -12.7

105.5

14.4

107.4
106.8

0-71

?. 3

3.1

2.0

-0.9

- l. l

1.7

10-71

1.6

2.1

1.1

-1.3

-1.7

0.0

11-71

2.2

2.7

1.9

0.0

0.0

12-71

2.7

3.3

2.7

1.1

1-72

3.1

3.7

3.2

?-72

4.

i

4.7

4.3

3-72

4.3

5 .4

5. 1

4 .3

4.7

4-72

5.7

6.A

6.2

5 .5

5-72

5.6

6.2

6.1

5.4

6-72

5.4

5.9

5.9

7-72

5.3

5.8

9-72

5.5

o -7 2

.
1

105.6
\
19.4

107.1

7.0

-3.3

¿06. 8

1.7

7.0

1.7

7.0

¿07.4

1.3

2.9

7.3

3.8

7.5

1.8

2.1

3.6

7.2

4.5

7#3

3.2

3 .7

5.2

3 .5

6.6

9.3

6.2

9.3

7.8

10.£

6.1

7.6

10.4

9.3

5.9

7 .2

9.7

8.7

5.1

5.6

6.9

8.9

7.9

5.6

5.0

5 .4

6.5

8.4

5.9

5.8

5.3

5.6

6.6

5.6

6.0

5 .9

5 .4

5 .8

2-71

3-71

4-71

5-71

6-71

8 . r sx s ^

xo .o

:i.o

z ^

ii.o

12.0

: 4. 6

.3 .9

11.6

12 .5

13 .6

6.0

i 6. 3

10 .3

11.1

11.7

2 ,9

9 .4

9. y

i o.o

»0. 7

3.6

8.2

3 .2

a

7 .A

8.7

9.9

9 .0

9.4

3 .3

6 .9

3.2

2 .7

1.2

8 .4

7.6

8 .7

8.9

9.0

9.3

3. 3

7.3

4 .6

4.7

6 .0

8 ^8' \

6.7

8 .4

7 .6

8.6

8 .9

8.9

9. 1

8.2

7.

5.2

5 .4

6.5

8 .2

7-71

8-71

9-71

10-71

11-71

12-71

4-72

5-72

6-72

7-72

1- 7 2

„ ; 'J.
. . V <i
t
18.7
U.3

2-72

1

3-72

»i 3 .
. X

11 3.7
U 4 .5 P
7 .6 \

1 1 5 . 2P

8-72

MONTH

P R E P A R E D BY
OC T OB ER 1 6 ,

FE DERAL
1972

t

Î13.4

.

PRELIM INARY




1

1 0 8 ,:

6 .9

IN IT IA L
P-

:o a .

- ^ + 8 , 4 %

7.5

RESERVE

BA NK

OF

ST.

LOUIS

5

INDUSTRIAL
RATIO

PRODUCTION

S C AL E

1967-100

RATIO
SEASONALLY ADJUSTED

S C AL E

1967-100

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS INDICATED.
LATEST DATA PLOTTEDs SEPTEMBER PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF S T .

L O U IS

6
RETAIL
ANNUAL

COMPOUNDED
TERMINA L
MONTH

IN ITIA L
2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

10-71

SALES
RATES

OF C H A N G E
M I L L I O N S OF

MONTH

11-71

12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72
3 3,2 74

-3 =7 1 ____ L6.,fr
1 1.5

33,5 78

JLzlL

-âju2____ 4 , 2

33.502

-ArlL

_ Ì l2 ____ 6 x 8____ 4 . 5

4-71

-

14.1

- 3«7

fi=II---- L U 2 ___ U L 2 ____ 2 x 2 ___ 1 4 . 5
- 2 = 1 1 -----1 2 x 1 ___ 1 2 . Q
9.8

JJLsIJ___ LJU2

1Q.5

15.6

40.4
30.6

21.4

10.4

16.0

5.5

-8.4

12.8

17.8

11.0

>2

___ 1 0 . 8

10.4

.1x3.____ 6 * 6 ____ 5 . 9
6.8

8.8

7.2

3.3

9.4

35.219

10.7

10.5

12.5

35,574

2 3 .1.

34,896
34,886

- tjCa S- j i II« . ! --r-CU2_

4.0

0 . 9 ____ 3 . 3

9.0

7.1

-2.6

1+7.0%-

10.5

7.6

19.0

30.1

12.4

17.1

17.1

..2=22.
8-72

-1x3 ---- 2 x 0 ---- â x 2 ____ 2 * 7 ____ Îxjè___ U U â ____ 8 x £ _

37.120

. 1 1 1 - 1 1 , 5 .„3LLl3_
2

8.0

6.0
7.5

12.3

3.8

1 1 . 2 ___ 1 3 * 7 ___ L 2 jl9____
14.6

36,287

-5.2

9.2

-fLul___ _____ LOxi___ 1^5___ 6-,C

- 2 x 3 ---- 1x3 ____ lx±___ ________ 1 0 . 1

36,450

44.7

4.9

-3=22 ---- 1 0 * 2 ---- 2 x £ ---- 2 x 1 . ..IQ.t.8___ ISU2 ___ L 2 x i ____ S L ____ 8x2-lfl-t.fi____ &x3..-Lfeifl— 2 0 « ?
-fcr.I2..

35.345

8 . 0 ___ 1 7 . 0

7.7

.I Q. A____ L jJL_

—2_s_l_____SL l L _

34,964

- Z x A ___ _________ - .1 x 2 . - .2.0 . A .

.
-lx±____ 1x2 ____ U 6 ,.- 2,

- 6 x 2 ____ L x * ____ Lx3 ____ 8 . 6

- 3 - 2 2 ____ LQ..1____ 9 . 5

.0=22.

12.

_LlJ8____ 1x2-

_ L l L-

34.655

1 2 . 1 ___ 1 6 ^ 2 ___ 1 7 . 5

8.9

■■
■2
■
-7.2.

33.688

-2-t..8____ U 2 ____ ixit___- 4 . 8

1=11

12=21...

33.827

12.3

36,802

-9.

1 4 . 1 ____ Ls_5___ L 2 ^ i ____ 3 * 6 ___ 19,_1_

37» 3 4 2

1 4 , 6 ____ 9 * 4 ___ L i t * ____ 8 * 0 --- 1 J U 2 --- 1 7._3_,

37.843P

11.3

9.2

3.2

10.0

8.6

12.9

15.0

8.3

7.9

7.7

8.4

8.1

9.1

7.0

5.9

7.3

5.8

9.3

10.5

9.7

4.7

6.8

1.4

5.5

-0.7

-16.0

2-71

9-72

3-71

4-71

5-71

6-71

7-71

8-71

9-71

10-71

11-71

12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72

INITIAL

1

3 7,297E

MONTH

P- P R E L I M I N A R Y
fc- E S T I M A T E D
P R E P A R E D EY F E D E R A L
O C T O B E R 11, 1 9 7 2

COMPCUNDED

RESERVE

BANK

OF

PERSONAL INCOME
A NNUAL R A T E S QF C H A N G E

INITIAL
3-71

4-71

5-71

6-71

7-71

8-71

9-71

10-71

11-71

12-71

1-72

2-72

LOUIS

B I L L I O N S OF
DOLLARS
ANNUAL RATES

MONTH

MCNTH
2-71

ST.

3-72

4-72

5-72

6-72

7-72

8-72
842.9

3-71

8.3

4-71

7.5

6.6

5-71

7.9

7.7

8.8

6-71

13.5

15.3

19.9

7-71

7.3

7.1

7.3

6.5 -14.1

8-71

7.7

7.6

7.9

7.6

-2.9

9.7

847.4
853.4
873.4

32.0

862.4
869.1
872.2

9-71

7.3

7.1

7.2

6.8

-0.5

7.0

4.4

10-71

6.8

6.6

6.6

6.1

0.5

5.9

4.0

3.6

11-71

6.8

6.6

6.6

6.2

1.7

6.0

4.8

5.1

é •5

874.8
879.4

12-71

7.7

7.6

7.7

7.5

3.9

8.0

7.5

8.6

11.2

16.1

1-72

8.1

8.0

8.2

8.1

5.1

8.6

8.4

9.5

11.5

14.1

12.1

890.4

2-72

8.5

8.5

8.7

8.7

6.1

9.3

9.3

10.3

12.0

13.9

12.8

13.6

3-72

8.4

8.4

8.6

8.5

6.2

9.0

8.9

9.7

11.0

12.1

10.8

10.2

6.9

4-72

8.3

8.3

8.5

8.5

6.4

8.9

8.8

9.5

1C.5

11.3

10.1

9.4

7.4

7.9

898.9
908,5
913.6
919.4

5-72

8.2

8.2

8.3

8.3

6.3

8.6

8.5

9.0

9.8

10.4

9.3

8.6

7.0

7.0

6.2

6-72

7.6

7.5

7.6

7.5

5.7

7.7

7.5

7.8

8.4

8.6

7.4

6.5

4,8

4.1

2.3

8.3

7.7

6.6

6.5

6,0

5.9

13.8

7.1

6.9

7.1

11.6

9.5

924.0
-1.4

922.9

7-72

7.9

7.9

8.0

7.9

6.3

8.2

8.0

8.4

9.0

9.3

8-72

8.0

8.0

8.1

8.0

6.5

8.3

8.2

8.5

9.0

9.3

8.5

8.0

7.1

9-72

8.0

8.0

8.1

8.0

6.6

8.2

8.1

8.4

8.9

9.1

8.4

7.9

7.1

7.2

7.0

7.2

10.3

8.5

7.5

2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

10-71

11-71

12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72

Digitized for P - P R EL IM IN A R Y
FRASER


INITIAL

932.9
9 4 0 . OP
9 4 5 . 7P

MONTH

PREPARED BY FEOERAL RESERVE
.O CT O B ER 1 7 , 1972

BANK OF S T .

LOUIS




RETAIL

SALES

RA TI O SCALE
BILLIONS

R ATI O SCALE

OF DOL L ARS

1964

1965

seasonally

1966

1967

BILLIONS

adjusted

1968

1969

1970

1 97 1

OF DOLLARS

1972

SOURCE! U .S . DEPARTMENT OF COMMERCE
PERCENTAOES ARE ANNUAL RATES OF CNANCE FOR PERIOOS INDICATED.
LATEST SATA PLOTTED« AttCUST PRELIMINARY, SEPTEMBER AOVANCE ESTIMATE
PREPARED I Y FEDERAL RESERVE BANK OF S T . LOUIS

PERSONAL
R A T I O S CA L E
TRILLIONS

INCOME

OF DOL L ARS

SEASONALLY A DJ U S T E D

PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIOOS
LATEST DATA PLOTTED*

R A T I O S CA L E

MONTHLY T O T A L S AT ANNUAL RAT ES

TRILLIONS

OF DOLLARS

INDICATED.

SEPTEMBER PRELI MI NARY

PREPARED BY FEDERAL RESERVE BANK OF ST. LOU 18

8
GRO SS N A T I O N A L PRODUCT I N CURREN T O C L L A R S
--------------------------------------------------------------------------------------------------------------------------- C q M P Q U N P E O A N N U A L R A T E S OF C H A N G E ___________________________________________________________________ ._____________________
B I L L I O N S OF
_T£ R M I N A L _________________________________________________________________________________________ I N I T I A L Q UA R TE R_______________________________________________________________________________________ D O L L A R S
QUARTtR
AN NUAL RA T E S

__________ * “
01

lr.68

2-63

3-68

4-6 8

1-69

2-69

3-69

4-69

1-70

2-7 0

3-70

4-70

1-71

¿-71

3-71

4-71

1-72

2-72_______________

-± z L & ----- 2*2-------------------------------------------------------------------------------------------------------------------------------------------- 9 34 .Q _
_
_
_____________________________________________85 7.4
— 2-J^____iSLdt_ LLt_'____________________________________: __________________________________________________ .
- 1 = M _____ LtJ_ UL.1_
-± .-£ 3 _____ _______9.1

.a.i6_____________________________________________________________________________________________________________________________ 875.2
7.8___ ZoJ)______________________________________________________________________________________________________________________t5f.fl.t2
f

— Lr.6.2_____iUfi___ _______ 7.3

7.4

7.8______________________________________________________________________________________________________________ 9Q7._0_

INITIAL
P-

QUARTER

PRFLIM1NAKY
P R E P A R E D BY
O C T O B E R 19,
GROSS

NATIONAL

PRODUCT

IN C O N S T A N T

1958

FEDERAL
19 72

RESERVf

BANK

OF

ST.

LOUIS

DOLLARS

________ C O M P O U N D ED ANN U A L R A.I£3l J2fL.£HA M G£____________________________________________________________
INITIAL

TERMINAL
ÜLARTf- K
4-67

1-6*

2-68

3-68

4-68

1-69

2-69

3-69

¿-69

1-70

B I L L I O N S OF
DOLLARS
ANNUAL RATES

QUARTER
2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72
692.6

1 -63

5.4

2-6 8

6.4

7.5

3-63

5.6

5.3
4.6

3.2

2.4

1-6 9

4.5

4. ?

3.2

2.9

3.3

2-69

4.1

3 *K

?.V

7.5

2.6

3.8

3.*‘

?. 7

? .4

2.4

1.9

1.9

i. a

.7

1 .9

1.4

1 .7

0.5

-0.2

r
\
I
^
-7. 2

1-70

2.4

2.a__

1 .2

o.a

il.<*

-0.3

-1.0

-2.4

-2.6

?-70

2. 3

1.0

1. <

0.9

0.6

0.1

-0.4

-1.1

-0.5

-0.3

4-68

705.3
712.3

4.0

716.5
722.4
725.8

1.9

729.2
725.1
720.4
1.6

723.2

n .^

1.8

7.0

-1.0

-0.4

-1.4

C.. 7

1.6

1.6

X

3-70

7. ^

1.9

1.3

1.0

0.8

0.4

0.1

4-?n

1.7

1. J

0. 7

0.4

0.1

-0.3

-0.7

1-71

7. 1 _ L*ir
_

2-71

2.?

¿.0

1.5

1.3

1.2

Q.9

fl.£______C U ____ L * 2 ____ ILS____ ¿LI ____ ________ ldi ____ 1 * 2 _____ 7 3 7 . 9

3-71

2.?

2.d

1.6

1.4

1.3

i.i

1 . 0 _____ {LS ____ L mJx____ ZjJI____ I*J----- LLL ____ k±h____ ¿^3 ____ I L L

4-71

?.5

2.3

1.9

1 . 8 ______ ILL ____ L*h____ L*-6____ 1^-5---- 2^JÛ---- LL1 ---- 1L2.---- U Q ---- i * J ---- 4 * J ---- fs_ ^

1-72

2 . 7 ____ 2 . 6

2 . 2 _____ 2 ^ J ____ ZLl____ ¿*Sl____ Lai2____ 2 ^ £ ---- Z ^ 5 ---- -------- ILt---- 2.^6---- ^

2-72

3.1

2.7

• .7
>

3.1

? .9

4-6 7

1-6*

2-68

0.9

2.6

7 .A,
3-68

JL...J

F i * 2!
1 1 i r
0 . 5 . - -ÜA..2-.

8 . 0 ^ >SNs'^

731.9

.7^ 2,5
-L s .b ...

---- îl*2---- 5ül2_

-LsJa____ £ui>_

2 . 6 _____ 2 ^ 5 ____ ________ Z mJL----- ILL---- -------- kLL---- ±Lx---- £l»_Q---- -------- t u Z

JLLSl____IL L .

2.8

7.8

2.9

2.5

3.4

4.0

4.3

4.6

4-68

1-69

2-69

3-69

4-69

1-70

2-70

3-70

INITIAL
P-

1.

718.0

6 .Q

5.7

6.2

7. 1

*
t
-4
O

• 17

3. Q

1.4 .

726.8

>V
-4.8

1-71

2-71

3-71

7. ■
*

4-71

783.9
7*7

5.9

1-72

7 9 5 , 3P

2-72

QUAWTEP

PPP L I M I N A k Y




DRfcPAPED RY \ tO ER Al
UCTOBFR 1 9 , 1972

RESEKVlr

BANK CF S T .

LOUIS

9

DEMAND AND PRODUCTI ON
RAT I O SCALE

1964

QUARTERLY

1965

1966

1LGNP

IN

AT

1968

i n CURRENT D O L L A R S .

(2.GNP

1967

TOTALS

ANNUAL

RAT I O SCALE

RATES

1969
SOURCEt

1970
U.S.

1971
DEPARTMENT

1972
OF COMMERCE

1958 DO L L A R S .

P ER C ENT A G ES ARE ANNUAL R A T E S OF CHANGE FOR P E R I O O S
L ATES T DATA PLOTTEDs




INDICATED.

3RD QUARTER P R E L I M I N A R Y

PREPARED BY FEDERAL RE S E R V E BANK OF ST.

LOUIS

1 0
C O M P E N S A T I O N PE* M AN-HIJUR, T O TAL P K I V A T F 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 b 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 _____________________________________________________________________ 1 9 6 7 =
QUARTER
3-69
3-71
1-68
2-68
3-63
2-69
4-69
1-70
2-70
1-71
2-71
4-71
1-72
4-6 7
1-69
4-70
4-68
3-70
4-67

5.3

1-68

7.3

2-68

7.3

102.t
104.4
8.4

106.3

7. 5

3-68

7.7

8.2

8.9

4-68

7.9

8.6

8.A

8.8

8.7

1-69

7.6

8.1

7. 8

7.9

7.3

5.9

?-69

7 .6

7.9

7.7

7.7

7.3

6.6

7.3

3-69

7.6

7.0

7.7

7.P

7.5

7.0

7. 6

7.9

4-69

7.9

8.2

8.0

8.1

8 .j

7.8

8.4

8.<;

9.9

1-70

7 .8

8.0

7.9

7.9

7.8

7.6

8.0

8.2

8.4

6. 9

2-70

7.5

7.8

7.6

7.6

7.4

7.2

7.5

7.5

7.4

6. 1

5.4

3-70

7.7

7.9

7.8

7.9

7.7

7.6

7.8

9.C

.. -8.0
.
.

7.3

7. 5

9 f«

<*-70

7.5

7.7

7.6

7.6

7.5

7.3

7.5

7.5

7. 5

6.9

6.9

7.
7 .7

6,. 6

7.7

,

6 l4

6 .'
3

6.0

7,I

6 i*

6.7

6.2

108.6
110.9
112.5
114.5
116.7
119.5
121.5

1-71

7.6

7.7

7. 6

7.6

7.5

7.4

7.5

7.6

7.5

7.0

7.1

2-71

7.5

7.6

7.5

7.5

7.4

7.2

7. A

7.4

7.3

6.9

6.9

3-71

7.4

7.5

7.4

7.4

7.3

7.2

7.3

7.3

7.?

6.8

6.8

4-71

100

7.3

7 .4

7.3

1-72

7.3

7.5

7.3

7.3

7.2

7. 1

7.2

7.2

2-72

7.2

7.3

7.2

7.2

7.1

7.0

7.1

7.0

3-67

4-67

1-68

2-6d

3-69

4-68

1-69

2-69

3-69

4-69

7.3

7.1

7.0

7. 1

7. 1

7.0

6.6

S.6

7.1

6.8

7.0

6.7

INITIAL

.

_

1.2.3» 1 .
126.0

e ,5

127.7
130.1

6.5

6.7

6.8

8,2

6. 4

6.3

6.7

2-71

3-71

4-71

* .5

3 - 70

4-70

1-71

7■
P

6 ,6

6.6

6 .8

1-70

2- 70

135.9

6.3

6 .4

6.9

134.1

6.0

6.0

6

6.*
5.5

'.>.4

6 ♦8

132.0

138.6
5 . 3 1 4 0 . 4
1-7?

QUARTER

P R F P A R E D RY
SEPTFMBErt

rtDERAL
1972

RES6»VF

RANK

OF

ST. L O U I S

O U T P U T ?r* M A N - H O U R . T;!TAL P K I V A T F E C O N O M Y
____________________________________________________________________ CQMPrurj.)f;r A N N U A L 3 A f E S OF C H A N G E ______________________________________________________________________

TERMINAL________________________________________________________________ INITIAL QUARTER_______________________________________________________________ 1967 «

100

OUARTFR




PREPARFD BY FEDERAL RESERVE BANK OF S T .
AUGUS.T. !_*_ . 1972

LO U IS

..
.

11

PRODUCTIVITY, COMPENSATION, AND LABOR COSTS
RAT I O SCALE

RATIO SCALE
196 7-1 00

196 4

196 7-1 00

SEASONALLY ADJUSTED

19 65

19 66

1967

1968

19 69

19 70

1971

1972

SOURCE* U .S. DEPARTMENT OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED.
LATEST DATA PLOTTED» 2N0 QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

UNIT LA B O R COSTS, TOTAL PRI 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 O F C H A N G E _____________________________
INITIAL

TERMINAL
QUARTER
3-67
4-67

4-67

1-68

2-63

3-63

4 - 6 3 ___ Lzj62___2 - 6 9

3-69

QUARTER

4 - 6 9 ___ L-.lfl.-2.-7fl.

W Q ___ Lzll___ 1=11--- ì = I i ___ itili___ L z I 2 _

A ..3________________________________________________________________________________________________________________________________________________________________________________________________________________________

4.i4

IQ L tA-

iQ 2 * y .

1Q3 i S

2-6.8.-

1Q5.1
4-68,
.

___ 7 »Q

5 .3-

1-69

1 Q 6 .9

6.5

108« 5

2-69,-

3-6.9_

11 Q. 7

7..1_

6,1
6 «.6-




7 .1

. ^2.
1

112* 1

_ L * 3 ____ Z_«JL_

_ZjlÌ ___ 7.9
2

115.6,

INITIAL

QUARTER

PREPARED BY FEDERAL
AUGUST 3 , 1972

RESERVE

BANK OF S T ,

LOUIS

12
C O N S U M E R PR I C t
COMPOUNDED

INDEX,
ANNUAL

INITIAL
2 -7 1

3 -7 1

4 -7 1

5 -7 1

6 -7 1

7 -7 1

8 -7 1

9 -7 1

1 0 -7 ]

SEASONALLY ADJUSTED
M A T E S OF C H A N G E

1967

MONTH

1 1 -7 1

1 2 -7 1

1 -7 2

2 -7 ?

3 ?.
-7

4 -7 2

5 -7 2

6 ?.
-7

7 -7 2

100

8 -7 ?

119. 90
120 .2 1
12 0 .8 2

-3 z li.
6- 71

121.29

7 -7 1

121.62

INITIAL

MONTH

P R E P A R E D BY F F D E R A L
O C T O B E R 2 0, J 9 7 2

RESERVE

BANK OF

ST .

LOUIS

WHOLESALE P R I C F S - I N D U S T R I A L C O M M O D I T I E S * S E AS O N A L L Y A D J U S T FO
___________________________________________ _____________________________C O M P O U N D E D A N N UA L R A T E S OF C HA N GE __________________________________________________________________________

T E R M I N A L ________________ ______________________________________________________ I N I T I A L M O N T H _______________________________________________________________________ 1 9 6 7 ■ 1 00
MONTH
___________ IzTL— 1zll___ f L i I i ___ S i U ___ i l l !___ Lz i i ___ 8 - 7 1
9,-71 1 0 - 7 1 1 1 - 7 1 1 2 - 7 1 ___ It,72
2-72
.5-7.2
6-7 2___ 1=21— 1=12 _________________




INITIAL

MONTH

PREPARED BY FEOERAL RESERVE
OCTOBER 5 . 197 2

BANK OF S T .

LO U IS

13
RAT

PR I CES

196

SEA SO N A LLY ADJUSTED

RAT I O

SCALE

1967*100
130

130

125

1 20

1 15

1 10

105

100

95

90

85
1 05

1 00

95

90
1964

1965

1966

' E R C E N T A G E S ARE ANNUAL R A T E S

1967

1968

OF CHANGE FOR P E R I O D S

1969

1970

INDICATED.

.ATEST DATA P L OT T E D ; S E P T E M B E R




PREPARED BY FE DE R AL R E S E R V E BANK OF S T .

LOUIS

14
WHOLESALE PRICES - ALL COMMODITIES,
------------------ CUMf-flUMPED- A N N U A L R A T E S

TERMINAL
MONTH

1 N J T IA L
2 -7 1

3 -7 1

4 -7 1

5 -7 1

6 -7 L

«3-71

4 .1

3.9

4.6

4.2

4.7

4.3

3.8

4.1

3.6

3.6

4.7

5.1

5.0

5.4

5 .7

7?

2-72

3-7?

4-7?

5-7?

6-72

7-72

100

11?.70
113.21
113.55
114.00
114.22
9.2

115.06

9 — 71

3.5

3.6

3.2

3.1

2.5

2.6

-3.6

1 0 -7 1

3.2

3.3

3.0

2.8

2.3

2.3

-0 .9

1

11-71

3.0

3.1

2.7

2.6

2.1

2.1

-0.?

1,• £

1 ■<
»

12-71

3.5

3.6

3.3

3.3

3.0

3.1

1.7

3,,5

4 .3

7.3

1-72

3.8

3.9

3.7

3.7

3 .5 _
.

3.7

2.6

4

•*

5 .1

.7*0

6.7

2-72

4.0

4.1

4.0

4.0

3.9 _

4.1

3.3

<t,

5

6.9

6.7

6.7

3-72

3.8

3.9

3.7

.. 3 . 7
..

3.6

3.8

3.0

4,. ?

4 .7

5.5

4.9

4 •0

1.3

4-72

3.8

3.9

3.7

__ 3 . 7

3.6

3.7

3.1

4,. 1

4 .5

5. 1

4.5

3 • ft

2.4

3.4

5-72

3.9

4.0

3.9

3.9

3. 8

3.9

3.4

4.3

4 tfi

5.2

4.7

4 ■?

3.4

4.5

5.6

6-7?

4.0

4.1

4.0

4.0

3.9

4.1

3.6

4,,4

4 .ft

5.?

4.9

4 ,5

4.0

4.9

5.6

7-72

4.3

4.4

4.3

4.3

4.3

4.5

4.0

4.. P

5

5.7

5.4

5t?

4.9

5.8

6.6

7.2

8— 7 2

4.5

4.6

4.5

4.6

4.5

4.7

4.4

,1

5 .4

5.9

5.7

• •6
i

5.4

6.2

7.0

. 7-4

9-7?

4.4

4.5

4.5

4.5

4.5

4.6

4.3

5..0

5 .3

5.7

5.5

5.3

5. 1

6^.3

6.4

6.7

5.7

3.6

2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

1 0 - 71

11-71

12-71

1- 72

2-72

4-72

5-7?

6-72

7-72

8-72

114.71
114.88
115.01

INITIAL

115.69
116.32
116.95
117.08

3-72

117.41
117.94
5.7

118.49
8.6

WHOLESALE

PRICES-PARM

PRODLCTS

AND

INITIAL

TERMINAL
MONTH
2-71

3-71

4-71

5-71

6-7L.

3-71

2.7
2.5

4.3

MONTH

2.9

4.3

3.2

0.6

1.1

-0.7

-2.1

3.0

3.9

3.2

3.6

3.2

9-71

0.5

0.7

-0.4

-1.1

-2.8

12-71

ANO

PEEDS,

SEAS.

Of

ST.

I l ­ 71

ADJ.

2-72

3-72

4-72

5-72

7-72

6-72

113.5

114.1
113.3
15.9

114.7

0.0 - 1 3 . 7

113.3

10-71

2.1

1.9

1.9

1. 3

4.7

-0.5

,
1 4 17

2.4

2.8

2.3

2.3

1.9

4.6

1.1

9, a

4.3

12-71

3.8

4.4

4.1

4.4

4 .4

7.1

5.1

1?,,?

1C.9

ia.0

114.6
11 5 . 0
116.6

1-72

4.4

5.0

4.8

5.2

5.3

7.7

6.2

11 • P

1C. 9

Hi■
4

10.8

2-7?

5.3

5.9

5.8

6.3

6.5_

8.8

7.6

1?, c

12.0

14..7

13.0

3-72

4^6

. IdL-

4.9

JL l2._

o •f
*

8.6

.5-72

.¿ r l2 .1 -1 Z
8 -7 ?

12-

-a -r.

jtjLh____ kdt ____ 4 . 6

__ ±+£l .

J L m5 -

JLJL.

7. 1 ___

■
JLt-L.

_Ju A _
-5 -* l ___

_______iu-L.

fc«.4.

.6.« 5.
..

6* J L

, ¿ - I ____ i u J L

■
7.-1.

.6>. l

_L»_D____ I^CL,

2-71

3-71




4-71

■■5^6..

a* . a ,

6-71

-Z*S___ 9«5 .

9.4

- A a ±-

-........

... ,. - .. .
..

9a.
5

4 .8

7 .8

S..Q

n a. 6

1 1 9 .4

_A a2 _

-1 2 2 ^ 2 -

___ L3j J ___ 1 ^ 3 ___ 2A ^A_

-d-Ji_ L U J ___1A-3_ _______ P i s ?_ i,a.a_
_
_
_

in.?

a. p

7-71

4 . 7 ____ L a A -

_L-2___________5^2___ 5.»Q

a^n

5—
5-71

..

n g.n
... .

JL mJ ___ -1* 5___ ~1* Q

____ L ^ a ____ 5 . 9

L * 5 ______

*3.

11 7.6
15.3
. .Jim2... .-4*0. .

9,»7 ___

4 . 6 ____ i u 2 ____ _________________iLiS____ u z

5 .0 ___ ¡1^2.- . . ^ 1

-

100

113.7

11-71

-AaJL

*

8-72
112.9

7.6

4= » I 2 .
.
.

LOUIS

1967
1-72

-8.1

8-71

*COOS

BANK

MONTH

4.3

7-71

PROCESSED

RESERVE

2.1

6-71

9 - 71

10-71

«120.4?

6.6

5-71

8-71

1 2H.fl7

-1.1

4-71

7-71

119.31
7.9

P R E P A R E D eY P E C E R A L
O C T O B E R 5, 1 9 7 ?

,

*

8-72

2.3

f l- 7 1

1967
1-

4.9

7 -7 1

1? - 7 l

3.7

6-71

MONTH

9- 71 1.0-71 1 1 - 7 1

5.6

5-71

a -7 i

2 .6

4 - 7 .1

7 -7 1

SEASONALLY ADJUSTED
O f C H A N G E _______________

in .?

e.A

in.4

8-71

9-7 i

10-71

11- 71

IN ITIAL

_ a ^ _ 10 . 9 _ 13^.5_ IA.-5_ L2-.4_ L^_D_ L Q .l
_
_
_
_
_
_
12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-7?

8-72

M'INTH

PREPARED 6Y F-ECER Al
O C i m E R 5* 1972

»ESF*VF

BANK OF S T .

L O U IS

15
GENERAL P R IC E

IN D E X *

RATIO SCALE

RATIO SCALE

195 8-1 00

1958-100

LATEST OATA PLOTTEO» SftO QUARTER PRELIMINARY
PREPAREO BY FEOERAL RESERVE BANK OF ST. LOUIS

I M P L I C I T PhICfc Ü F F I A T O K F O R G R O S S N A T I O N A L P R O D U C T
____________fillflM W f Q - A N N U A L S A T E S „.Qf ÇHANÜfl______________
INITIAI

1958 » 100

QUARTS

QUART-«
■V-67

1-6H

2 - 6 * ___ 3- 6 8

4.6H

1-6*

2-ÒV

V69

1-7Û

2-70

3-70

4-70

1-71

2-7 L

3-71

4-71

\- îj

2-1 j

.
JL-M

ItodVL.
121*11.

-iaJL-

IN ITIA L

QUARTCR

P- P R E L I M I N A R Y




PREPAREO 8Y ►
' EUERAL RfcSC-RVt RANK OF S T .
OCTOBER 19 . I97jg.

LO U IS

! N V !N T O R IE S COMPARED WITH
M A N U F A C T U R I N G AND

* R A T I OS

BASED

ON

SEASONALLY

ADJUSTED

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
A S D E F I N E D B Y T HF N A T I O N A L B U R E A U
LATEST



DATA

PLOTTED:

AUGUST

DATA.

MONTHLY
T RADE

SOURCE:

SALES*

U . S . DEPARTMENT

OF

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

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