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nflTionoL economict r e i) ds
PREPARED

ENDING:

BY

August 31, 1972

FEDERAL

RESERVE

BANK

OF ST. LOUIS

RELEASED:

September 25, 1972

Economic activity continued to expand at a moderately
rapid pace through August, according to the latest monthly
indicators. The growth of production, employment, and personal
income was somewhat slower in the April-August period than in
the preceding four months, but retail sales increased at a
slightly more rapid rate. Consumer prices and wholesale prices
of industrial conmodities increased at about the same rate in
the second four months of 1972 as in the first four months.
Personal income rose at a 6 . 8 percent annual rate from
April to August, compared with a 10.1 percent rate of increase
in the preceding four months and an 8 percent rise in the year
ending December 1971. Retail sales increased at a 15.1 percent
rate from April to August, after rising at a 12.4 percent rate
in the first four months of 1972. The ratio of inventories to
sales declined unevenly from 1.57 in December 1971 to 1.50 in
July, the latest month for which data are available.
Industrial production increased at a 4 percent rate
in the four-month period ending in August, compared with a 13.6
percent rate in the preceding four-month period. For comparison,
industrial production rose at a 4 percent annual rate from 1957
to 1971. Payroll employment increased at a 2.5 percent rate from
April to August, after rising at a 4.6 percent rate from December
1971 to April. Unemployment relative to the civilian labor force
fell from 6 percent last December to 5.6 percent in August.
Wholesale prices of farm products and processed foods
and feeds increased rapidly throughout the first eight months of
1972, with the exception of March and April. These prices rose
at a 9.5 percent rate from December to August, compared wi t h a 6
percent increase in the preceding year. Wholesale prices of
industrial commodities increased at a 4.2 percent rate from April
to August, after rising at a 4.4 percent rate in the first four
months of the year. Consumer prices increased at a 3.2 percent
rate from April to August, the same rate of increase as in the
December to April period.




2
TOTAL
_______________________________________________________________________C O M P O U N D E D

CIVILIAN EMPLOYMENT
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 __________________________________________________________________________ T H O U S A N D S
OF P E R S O N S
MONTH
7-72
5-72
3-72
6-72
1-71
2-71
4 - 71
4-72
2-72
3-71
5-71
6-71
8-71
1-72
7-71
9 - 7 1 1 0 - 7 1 1 1 - 71 1 2 - 7 1
78,, 4 7 5

2-71

-3.6

3-71

-2.1

-0.4

4-71

0.1

2.0

4.5

5-71

0.4

1.8

3.0

1 .5

6-71

-0.4

0.5

0.8

-1 .0

-3.4

7-71

0.8

1.7

2.2

1 .4

1.4

8-71

1.0

1.9

2.3

I .8

1.9

4.7

2.8

9-71

1.4

2.1

2.6

2 .2

2.4

4.4

3.4

3.9

78,r44 6
78,, 7 3 ?
78,»8 ? 0
78,r6 0 0

r s
1

79,, 0 1 4

6.5

79,. 1 9 9
79,r4 5 I
79,> 8 3 ?

10-71

1.9

2.6

3.0

2 .8

3.1

4.8

4.2

4.9

5.9

11-71

2.0

2.6

3.0

2 .8

3.0

4.4

3.9

4.2

4.4

2.9

12-71

1.9

2.5

2.8

2 .6

2.8

3.8

3.3

3.4

3.3

2.0

80,,0 2 0

+3 .7 %

1 .2

80,,0 9 3
80,►6 3 6

1-72

2.4

3.0

3.4

3 .2

3.5

4.5

4.1

4.4

4.5

4.1

4 .7

8.4

2-72

2.2

2.7

3.0

2 .9

3.0

3.9

3.5

3.6

3.6

3. 0

3 .0

4.0

-0.2

3-72

2.7

3.2

3.6

3 .5

3.7

4.5

4.3

4.5

4.6

4.3

4 .6

5.8

4.6

9.6

4-72

2.5

3.0

3.2

3 .1

3.3

4.0

3.7

3. P
.

3.8

3. 5

3 .6

4.2

2.9

4.4

-0.5

5-72

2.5

3.0

3.2

3 .1

3.3

3.9

3.6

3.7

3.7

3.4

3 .5

3.9

2.8

3.9

1.1

2.8

6-72

2.6

3.0

3.3

3 .2

3.3

3.9

3.7

3.8

3.7

3.S

3 .6

4.0

3.1

3.9

2.1

3.5

7-72

2.5

2.9

3.1

3 .0

3.1

3.6

3.4

3.4

3.4

3. 1

3. 1

3.4

2.6

3.2

1.6

2.4

2.1

0.2

8-72

2.6

3.0

3.2

3 .1

3.2

3.7

3.5

3.5

3.5

3.2

3 .3

3.5

2.9

3.4

2.2

2.9

2.9

2.3

4.4

1-71

2-71

3-71

4 - 71

5-71

6-71

7-71

8-71

9-71

10-71

1 1 - 71

12-71

1-7?

2-72

3-72

4-72

5-7 2

6-7?

7-72

INITIAL

80,,6 2 3
,
81 , 2 4 1
81,.2 0 5
81,i 3 9 4
4.1

81 , 6 6 7
,
\

81,, 682
81,,9 7 3

MONTH

P R E P A R E D BY r E D E R A L
S E P T E M B E R 1, 1 9 7 2

RESERVE

BANK

OF

ST.

LOUIS

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 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 ___________________________________________________________________________ T H O U S A N D S
OF P E R S O N S
MONTH
5-7 2
6-72
1-12
1-71
2-71
3-71
8-71
3-72
4-72
4-71
5-71
6-71
7-71
9-71 10-71 11-71 12-71
1-72
2-72
70, t3 91

2-71

-1.1

3-71

0.2

1.5

4-71

0.8

1.8

2.0

5-71

1.3

2.2

2.5

6-71

0.7

1 .1

1 .0

0.5

-1.9

7-71

0.2

0.5

0.2

-0.4

-2.0

-2.1

8-71

0.2

0.4

0.2

-0.3

-1.3

-1.1

-0.0

9-71

0.9

1 .1

1. 1

0.9

0.4

1.1

2.8

5.7

10-71

0.7

1.0

0.9

0.7

0.3

0.8

1.8

2.7

-0.1
1.6

3.3

70,.48 0
70,, 5 9 9
70,,76 9

2.9

70,,6 5 7
70,!5 3 1
70,,5 2 9
70, P 5 3
70,.8 4 8

11-71

1.0

1.2

1.2

1.1

0.8

1.3

2.2

2.9

12-71

1.1

1.4

1.3

1.2

1.0

1.5

2.2

2.8

1.9

2.9

2.4

1-72

1.6

1.9

1.9

1.9

1.7

2.3

3.0

3.6

3.1

4.2

4.7

6.9

2-72

1.7

1.9

1.9

1.9

1.8

2.3

2.9

3.4

3.0

3.8

3.9

4.7

2.5

3-72

1.9

2.1

2.2

2.2

2.1

2.6

3.2

3.7

3.4

4.1

4.2

4.3

3.8

5.2

4-72

2.0

2.3

2.3

2.4

2.3

2.7

3.3

3.7

3.4

4.0

4.2

4.6

3.3

4.6

4.0

71, 0 4 2
1
71,■ 85

+3.3%

71,.5 84
71,,7 2 9
72, 0 3 0

\

72, 2 6 3

5-72

2.2

2.5

2.5

2.6

2.5

2.9

3.5

3.9

3.6

4.2

4.3

4.7

4. 1

4.7

4.5

5.0

6-72

2.2

2.4

2.4

2.5

2.4

2.8

3.3

3.6

3.4

3.«

3.9

4. 1

3.5

3.8

3.4

3.1

1.2

7-72

2.0

2.2

2.2

2.3

2.2

2.5

2.9

3.2

3.0

3.3

3.3

3.4

2.8

2.9

2.4

1 .8

0.3

-0.6

8-72

2.2

2.3

2.4

2.4

2.4

2.7

3.1

3.3 1

3.1

3.4

3.4

3.6

3. 1

3.2

2.8

2.5

1.7

?.o

4. 7

t-71

2-71

3-71

4-71

5-71

6-71

7-71

9-71

10-71

11-71

12-71

1-72

2-72

3-72

4-7?

5-72

6-7 2

7-72

8-71

INITIAL

72,,55 8
72,i6 30
72,.5 °2P
72,, 8 7 1 P

MONTH

P- PRELIMINARY




PREPARED BY FEDERAL
SEPTEMBER 1* 1972

RESERVE

BANK OF S T .

LOUI S

3

EMPLOYMENT
RA T I O

RATI O

SCALE

MI L L I O N S

OF PERSONS

SEASONALLY

MI LLI ONS

ADJUSTED

SOURCE:

P E R C E N T A G E S A R E ANNUAL
LATEST

DATA PL OT T ED»




RATES

AUGUST

BF

CHANGE FOR P E R I O O S

SCALE

OF PERSONS

U.S.DEPARTMENT

OF LABOR

INDICATED.

PRELIMINARY

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

INDUSTRIAI.
COMPOUNDED ANNUAL

2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

11-71

G

1-71
2-71

1967

MONTH

1

INITIAL

TERMINAL
MC.NTH

P R O D U C T IUN
R A T E S Uc C H A N G E

12-71

1-72

2-7?

3-72

4-72

5-72

6-72

*

100

7-72

4.7

105.7
105.5

3-71

1 .1

*-71

*.5

-?.?
2.9

4.3

5-71

6.1

6.6

11 . i

14.4

6 W 71

4. 7

4.9

7.4

7.0

Ü.0

106.2
107.4
107.4

7-71

2.9

2.5

Ì.7

2.3

-3.3

-6.?

106.8

«-71

0.5

-0.2

0.2

-1.7

- .5
f.

-9.fi - 1 2 . 7

105.6

9-71

2.Ò

2.3

?. i

2.0

-¡).8

-1.1

1.7

18.4

107.1

10-71

1.3

1.6

?.l

1.1

-1. *

-1.7

0.0

7.C

11-71

2. '
♦

2.2

2.7

1.9

0.0

0.0

1.7

7.C

1.7

7.0 \

2.7

Î. 3

2.7

1.1

1.3

2.9

7.3

3.8

7. 5

3.1

12-71

106.8
107.4
108.1
^ ^ + 8 . 2 %

1-7?

3.2

3.1

3.7

’
.2

l.H

2.1

3.6

7.2

4.5

7.3

7.5

6.9

2-72

4. 1

4.1

4.7

4.3

?. ?

3.7

5.2

8.5

6.6

9.3

10.0

11.0

15.3

3-72

4.3

4. *
i

5.*

5.1

6. •
$

4.7

6.2

9.3

7.6

10.?

11.0

12.0

14.6

4-7 ?

5.7

r>. 7

'>.?

5.Ï

6.1

l.(.

10.4

9.3

11.6

12.5

13.o

16.0

16.3

18.7

«5-72

5.6

5.6

s.?

6.1

5.A

5.3

7.?

9.7

a.7

1C.5

n .i

11.7

12.9

12.2

11.3

6-7?

5.4

5.4

5.9

5.3

5.1

5.6

6.4

8.c

7.9

9.4

9.8

10.0

10.7

9.6

8.2

3.2

2.1

7-72

5.2

5.?

5. .?
■

5.6

5.0

5.4

6.5

8.4

7 t*

9.7

8.9

9.0

9.4

8.3

6.9

3.2

2.7

3.2

8-72

5.3

5.4

5.3

5.7

5. 1

5.5

6.5

1 8.2 1

7.4

8. 5

3.7

9.7

9.0

8.0

6.8

4.0

3.9

4.9

6.5

1-71

2-71

3-71

4-71

5-71

6-71

7-71

10-71

1 1-71

12-71

1-72

2-7?

3-72

4-72

5-72

6-72

7-72

8-71

9-71

IN 1 1 IA L
P-

108.7
110.0

13.«

111.2
112.8
4.3

113.2
113.4
1 1 3 . 7P
1

1 1 4 . 3P

MONTH

PRELIMINARY




P R f P A R Ê D eY f-EDERAl
_S§ PTEMBfcR 1 5 * 1 9 7 2

RESERVE

BANK

OF

ST.

LOUIS

5

INDUSTRIAL
RATIO

PRODUCTION
RATI O

SCALE

1967=100

SEASONALLY

PERCENTAGES

ARE

LATEST

PLOTTED*

DATA




ANNUAL

RATES

AUGUS T

OF

ADJUSTED

CHANGE FOR P E R I O D S

SCALE

1967-100

INDICATED.

PRELIMINARY

PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS

6
R E TA IL SALES
TERMINAL

IN IT IA L

MILLIONS

MONTH

2-71

1-71
7-71

3-71

4-71

5-71

6-71

7-71

9-71

a-71

10-71

11-71

1-72

12 -7 1

2-72

3-72

4-72

5-72

6-72

7-72

22 .9

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

i-7 1

1 9 .7

1 6 .6

a -7 1

16 .9

14. 1

1 1 .5

S - 71

1 1 .7

8 .2

4.2

-2 .7

t»-7 1

1 1 .a

9.2

6.8

4 .5

3 .8

1. 3

7 -7 1

a . ft

(S .

?

3 3 .5 7 8

3 3 .8 2 7

12 .3
-4 .8

3 .4

3 4 ,6 5 5

1 2 .9

1 1 .3

10 .3

9 .9

14. 5

15 .6

40 .4

1 3 .9

1 2 .7

12.0

12.1

1 6 .2

17.5

3 Q ir6

2 1. 4

i n - 71

1 1 .2

9 .8

8 .9

8.4

10.8

10.4

ldi «
,Q

5 , ,5

-8 .3

1 1 -7 1

1 2 .3

1 1 .2

1 0 .5

1 0 .4

12.8

12.8

17«>8

li. 0

6.2

35 .2 19
34 .9 64
23.1

35 .5 7 4
34 ,8 9 6

8.8

7 .5

6.6

5.9

7.2

6.4

fli.ft

2. 1

-3 .6

- 1.2

- 20.6

1- 7 ?

a.A

6. a

5 .»

5 .2

6.3

5.4

7,

1 .t
i

- 2.8

-0 .9

-1 1 .1

-0 .3

7-17

H. 7

7 .6

6.8

6.3

7.4

6.8

B<• 6

4 . iC

0 .9

3.3

-2 .6

8.0

1?,,5

9 , »G

10. 1

7-72

9.5

9.4

9*a

1-72

8.3

fl*l-

1Q.4

9. -JL. . . . 2 * 3

1 0 .9

m .Q

1 ft.

1-71

fl-75

7

2-71

10 .7

10 .5

..

9*1.

7.1
5 .A

7.7

q. q

0.8

1 0 .7

1 0 .5

11.8

3-71

4-71

5-71

6-71

7-71

..ì j l
I 9. 7 1

8-71

. ..a*

7

30 .1

4 4 .7

17.1

17*1—

36,2 87

12*4

7.6

35.3 45
36 ,4 5 0

1 5 .1 -

..â.tJL

1 J aJL____

B .f

t-----------------------

8.7

1 0 .6

9 .3

13 .7

15 .9

1 5 .7

1 0 .7

1 5 .1 1 0 .1

9-71

10-71

11-71

12-71

1-72

2-72

3 -72

4-72

6-72

5-72

f•

' »r

3 8 , 02_4E ........

2 1 .7

IN ITIAL
PF-

3 4 ,8 8 6

17 .0

1 9 .0

7.7

li. 2

\ + 9 .7%

12*4.

1 0 .5

10,,4 .. 7.

9.1

9 * 2. .

_

3 3 .6 8 8

« -7 1

.

_

3 3 .5 0 2

9 -7 1

1 /-7 1

_

OF

DO LLA RS

MONTH

7-72

MONTH

PRELIMINARY
EST IM A T ED
S E P TE MB E R

CUMPCUNOEO

13,

1972

PERSONAL INCOME
A N N U A L R A T E S OF C H A N G E
B ILLIO NS

INITIAL

ANNUAL
1-71

2-71

3-71

4-71

5-71

6-71

7-71

8-71

2-71

5.0

3-71

6.7
6.6

7.5

7.2

7.9

7.7

8.8

6-71

11.7

13.5

15.3

1Q.<)

32.0

7-71

7.0

7.3

7 .1

7.3

6.5

7.3

7.7

7.6

7.9

7.6

-2.9

7.0

7.3

7.1

7.2

6.9

-C.5

7.0

6.6

6.8

G.o

6.6

6. 1

0.5

5.9

4 .C

3-72

4-72

5-72

6-72

RATES

7-72

4.4

10-71

2-72

9.7

9-71

1-72

-14.1

8-71

12-71

6.6

5-71

11-71

10-71

3 .3

4-71

9-71

OF

MONTH

MONTH

837.3
842.9
847.4
853.4
873.4
862.4
869.1
872.2
3.6

874.8

11-71

6.6

6.9

6.6

6.6

6.2

1.7

6.0

4.8

5.1

6.5

12-71

7.4

7. 7

7.6

1 .7

7. 5

3.9

8.0

7. 5

0.6

11.?

16.1

1-72

7.3

8. 1

«.0

9.2

-8.1

5.1

8.6

8.4

9.5

11.5

14.1

12.1

2-72

8.2

8.5

8.5

8.7

8.7

6.1

9.3

9.3

10.3

12.0

1 3.9

12.8

13.6

879.4
890.4
898.9
908.5

3-72

9.1

8.4

3.4

9.6

8.5

6.2

9.0

9 .S

9.7

11.0

12.1

10.8

10.?

6.9

4-72

9.1

8.3

ri.3

8.5

9.5

6.4

9,9

8.9

9.5

10.5

11.3

10.1

9.4

7.4

7.9

5-72

9.0

9.2

9.2

°.3

a. 3

6.3

8.6

8.5

9.0

9. *
3

10.4

9.3

8.6

7.0

7.0

6.2

fc-H

7.4

7.6

7.5

7.6

7.5

5.7

7.7

7.5

7.8

9. 4

9.6

7.4

6.5

4.8

4. 1

2.3

-1.4

7-72

1.8

7.9

1.9

P.O

_ 7.9

6.3

8.2

8 •C

8.4

9.0

9.3

8.3

7.7

6.6

6.5

6.0

5.9

13.8

8-72

7.3

'•*.0

8.0

8.1

•9.0

6.5

8.3

8. 1

9.5

9.0

9.3

8.4

7.9

7.0

7.0

6.8

7.0

11.5

9.2

3-71

4-71

5-71

6-71

7-71

9-71

10-71

11-71

12-71

1-72

2-7?

3-72

4-72

5-72

6-72

7-72

1 -7 1

2-71

8-71

INITIAL

913.6
919.4
924.0
922.9
9 3 2 . 9P
9 3 9 . 8P

MÜNTH

P- p p f l im in a « y




PREPAREO BY FEOERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 15, 1972

7
RETAIL
RATIO

SALES

SCALE

RATIO

SCALE

SOURCEi U.S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTEDi JULY PRELIMINARY, AUGUST ADVANCE ESTIMATE
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

PERSONAL
RATIO

SCALE

TRILLIONS

INCOME
RATIO

MONTHLY TOTALS AT ANNUAL RATES

OF D O L L A R S

SEASONALLY ADJUSTED

TRILLIONS

SCALE

OF O O L L A R S

0.

0.7

0.

0.6

0.

0.5




196 4

19 65

19 66

1967

1968

1969

19 70

1971

1972

SOURCE* U.S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED.
LATEST DATA PLOTTEDi AUGUST PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

8
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 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 _______
IN ITIA L

u m m è i

B I L L I O N S OF
DOLLARS

QUARTER

ANNUAL RATES

QUARTER
3-67
-A--67

1-6 8

4-67

1-68

2-68

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

j u i _______________________________________________________ ; ______________________________________________________________________________________
_

-8 1 5 , 9

JU»tP

8»fr

-2 -6 8

-3^—lfli*- 11.7.

8 57.4

3-6B

--9.JL3____ â x J ___ liLfc-L-

815,2

9.1

...A- 6 8
_ 1 = j£l2 _

■2.r.69

_ I ^ ß ____ Z_*ü_

89
_Q*2 907.0

.jLlû____ a ^ a ____ a ^ a . , .i * a ____ u s ____ u± .
_ X a I ____ I mA ____ U h ____ L l 5 _

Sa 5____

3-67

4-67

1-68

2-63

3-68

4-63

1-69

2-69

3-69

4-69

INITIAL

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

QUARTER

P R E P A R E D BY F E D E R A L
A U G U S T 1 8 * 19 7 2

RESERVE

BANK GF

ST. L O U I S

*•
I
-j
o

G R O S S N A T I O N A L “P R O D 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 _____________________________________________________________________
B I L L I O N S OF
■IfcftttlMl______________________________________________________________________ I N I T I A L Q U A R T E R ____________________________________________________________________ DOLLARS
QUARTER
ANNUAL RATES
3-69
4-67
2-69
3-67
4-69
1-70
b9 3 - 6 8 . 4 - 6 8
1-69
2-70
3- 70
2-71
3-71
4-71
1-68
1-71
4-67

7.8

1-68

4.1

Ç.,4

2-68

5.2

,4

7.5

3-6«

4.9

.6
•>.

5.8

4,■l
f

4-68

4-4

4.. 8

4.6

3

2.4

683.6
692.6
705.3
712.3
716.5

1-69

4.7

4.

4.1

3

7.9

3.1

>-69

1.9

4., 1

3.8

? .9

7.5

2.6

1.9

3-69

3.6

3,ifi

3.5

? .7

2.4

2.4

1.9

1 ,9
,

4-69

3.0

,0

7-7

1 .9

1.4

1 .7

0.5

~n. , ?

722.4
725.8
729.2
725.1

V

1-70

7.4

?,,4

2 .D

] .?•

0 .fl__

0.4

-0.1

-i,
.n

— 7.4

7-70

7.1

?,,3

1.9

1.3

0.9 _

0.6

0.1

-n,,4

- 1 -I

—

1 .2 %

770.4
773.2

-0 .
,5

1-70

7.1

?,

1 .9

1 ,3

1 .0

0.8

0.4

o,. 1

-0.3

0.

1

4-70

1.7

1 ,7
.

1.3

n .7

0.4

0.1

-0.3

- a ,7
.

-1.7

- 1 . 1)
.

-0.4

-1.4

1-71

?.?

? .I

1.9

l *4

1.1

0.9

0.7

n. c

C.7

rt,, Î

1.6

1.6

1 .4

7-71

7.7

?,

7.0

l

1.1

1.7

0-9

n,• A

n.7

i. ?
,

i .q

7.0

7 .0

5.6

3-7 1

2.3

?,

7.0

i .ft

1 .4

1.3

1.1

l ,r
.

C.9

l,
,4

2.0

2.1

2 ,?

4.6

2.9

?

742.5

4-71

2.5

?

2.3

l .9

1 .8

1.7

1.6

i,
.ft

1.5

?,.0

2.7

2.9

3 .0

5.1

4.1

4.5

754.5

1-77

?.7

?,.7

2.6

?

2. 1

2.1

2.0

?,.fi

2.0

?,

3 .1

3.4

3 •f
i

5.4

4.7

5.2

6.6

6.5

2-72

3.1

3,. 1

3.0

? .7

2.6

2.6

2.5

.6

2.7

3.,2

3.3

4.1

4 .4

6.0

5.6

6.2

7.5

7.9

3-67

4-67

1-6 8

2 - S8

3-68

4-68

1-69

2-69

3-69

4-69

70

4-70

1-71

2-71

3-71

4-71




INITIAL

-4

1

1

1-70

7 7 6 . ft

? . o \

O

_

.ft

71 8 . 0

1

8 .0 \

731.9
1.1

737.9

V „V * î O . f\ot .....
z UTo

766.5
9 ^ 1

783.9

1-72

QUARTER

PREPARED 8Y FEDERAL RESERVE BANK OF S T . L O U IS
AUGUST 1 8 , 1972

9

DEMAND AND PRODUCTI ON
RATI O

SCALE

1964

QUARTERLY

1965

1966

U.6NP

IN

AT

1968

I N C UR R E NT D O L L A R S .

£GNP

1967

TOTALS

1958

PERCENTAGES
LATEST

RATI O

RATES

1969
SOURCE«

1970
U.S.

1971
DE P A R T M E N T

SCALE

1972
OF COMMERCE

DOLLARS.
ARE

ANNUAL R A T E S OF CHANGE FOR P E R I O D S

DATA PL OT T ED«




ANNUAL

INOICATED.

2ND QUARTER

PREPAREO BY FEDERAL RESERVE BANK OF ST. LOU IS

10
C O M P E N S A T IO N

P ER

TERMINAL
QUARTER

MAN -H OU R*

IN IT IA L

3-fr7
4-67

7*?

1-68

2-68

3-68

4 —6 8

1-69

2-69

3-69

PRIVATE

ECONOMY

Q U AR T E R

4-69

1-70

1967
2-70

1-70

4-70

1-71

2-71

1-71

4-71

«

100
1-72

5,3

1-68

4-67

TOTAL

102.1
9.3

10 4.4

-■ 8 .4 ___ 1x5________
- 3 z 6.f
l

10 6.3

-2x2-------______________ ÉLtiL

4-68

7.9

8.6

8 .4

8.8

8 .7

1 1 0.9

1-69

7 .6

8.1

7 .8

7.9

7.3

5.9

2-69

7 .6

7.9

7 .7

7 .7

7 .3

6.6

7 .3

1-69

7 .6

7.9

7.7

7 .8

7.5

7.0

7 .6

7.9

4-69

7.9

8.2

8.0

8.1

8*0

7 .8

8 .4

8 .Ç

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

11 2.5
1 1 4.5
11 6.7
•

119.5
12 1.5

5 .4

123.1

1-70

7.7

7 .9

7 .8

7.8

7 .7

7 .6

7 .a

8 .C

8.0

7.1

7 .5

9 .8

4-70

7.5

7 .7

7.6

7.6

7 .5

7.3

7.5

7.5

7.5

6.9

6.9

7 .6

5 .5

1-71

7.6

7.7

7.6

7.6

1.5

7 .4

7.5

7 .6

7.5

7 .0

7.1

7 .7

6.6

7.7

2-71

7 .5

7 .6

7 .5

7.5

7.4

7.2

7 .4

7 .4

7 .3

6.9

6.9

7 .2

6.4

6.a

_2L-.11. __la.fi ._ -7.5

7 ,4

7.4

. — Lt.3

7.2

7 * 2 .....,....7x3

7.2

1 2 6.0
12 7.7
130.1

6.0

1 3 2.0

f r .f r .....A L L .

.1 x 1 ...

6.2

. . .6*5

-U 4 .1

l

7.4

7 .3

7.3

7 .1

7 .0

7.1

7 .1

7 .0

6.6

6.6

6 .9

6.2

6 .4

6.0

6.0

5 .5

1-72

7.3

7.5

7 .3

7 .3

7.2

7.1

7 .2

7.2

7.1

6.8

6.8

7.0

6.6

6. a

6.5

6.7

6 .a

H. 2

2-72

7.2

7 .3

7.2

7.2

7 .1

7 .0

7.1

7.0

7.0

6.7

6.6

6.8

6 .4

6 .5

6 .1

6 .4

6j 3

6 .7

1-67

4-67

1-68

2-68

3-68

4-68

1-69

2 -69

1-69

4 -69

1-70

2-70

3-70

1-71

2-71

IN ITIAL

1

1

1

*

1-71

* >. 1

*•

7.1

-4
O

4-71

Q U AR T ER

P R F P A R E D RY F E D E R A L
SEPTFMBER 5 * 1 9 7 2

R E S E RV E

RANK

OF

ST.

LO UIS

O U T P U T P ER M A N - H O U R * T O T A L P R I V A T E ECO NO MY
C 0 M P C U N 0 6 D A N N U A L R A T E S OF C HA N G E _________________________________________________________________________________

T R I N A I

IN ITIAL

.

100

1967

Q U AR T ER

QUARTER
1-67

4 -67

l-U )

2 -6*

1-63

4-68

1-69

2-69

3-69

4 -69

1-70

2-70

3-70

4 -70

1 - 7 1 ____ 2-71

l “ l ...W 1 ------ 1=21J

4 - 6.L.

?-6S

■

*tlCL
_ 2 a Ì1_

la i.3.

- 2 x * ____ U 2 ____ L - J L

1Û3.7

- ¿ jlI _____
4-68

1.Q2 » 7_

- 2 x 5 ____
J l x S ____

1 0 3 ,4

?-69

1.6

l.a

1.1___ (ILL___ OxJ_ -Q .fr
_

1-69

1.5

1 .6

1. 7

0.7

Of

- 0 .1

- 0.2

-1 ,2 -

4-69

1.

?

i . 1

0 .*

0.4

OflO

-0 .4

- C . 5 ... - 0 . 2

- Î .2

o .e

....

I0 3 .fr
ia i.3

1 - 7( 1

fi.9

1 . 0

fj . /1

0.2

—')<. 2

-0 .7

-0 .5

- 1.2

- 1.2

lfli.O

7-70

1 .

?

1 . 1

1 .0

0.6

,
0 ,4

0.7

0.2

0.6

0.5

1.4

........l û . 4 , 0

1-70

1.7

1 .*

1 .6

1.3

1 ,1 7

1.2

1.1

1 .9

7.1

1.2

F
U
l_± r

5.5

7.1

4-70

1 . 5

1 .6

Î . *

1.1

1 ,0
■

C .9

1.0

1.4

1.5

2.2

1.4

3 .1

-o .a

1-71

1.9

2 . .1

1.8

1 .6

1 ,, 5

1.5

1.7

2.1

2.4

1 *_L_

4 .2

*.3

.... 2 , S L .

7-71

1 .

)

7. 1

1 .*

1.6

1 .6

1.6

1.7

2. 1

2.1

2.9

3 .7

1.7

2 .5

4.2

1 .9

1 —7 1

...

LQ5.fr

....

l q i

\ + 4 . 0 %

.

’ .il

7.1

1 .9

1 . <

1 ,7

1.8

1.9

2.3

2.5

3 .0

J .7

3 .7

2.8

4 .1

2.8

4-71

1

7.7

?. 1

7 .0

1 .s

2.0

2.1

2 .5

2 .7

3.1

3 .8

3 .7

1.1

4.1

1.2

...

1- 7 7

7.7

7.1

7. 1

2 .3

7 .0

7.1

2.2

2 .5

2.7

3.2

1.7

3 .7

1 .1

3.9

3.3

3.7

3.7

3.3

7-17

7.4

7. 5

7 .4

7 -1

7

2.4

2 .5

2 .9

i.O

3.5

ITTI
I"1
1
^

4.0

3.6

4 .3

3.9

4 .4

4 .6

4.8

6.3

'3-6 7

4-6 7

1 - 6*1

2 - 6*

4-6^

1-69

2 - 6 «?

3-69

4-69

2-70

3-7C

4 -70

1-71

2-71

3-71

4-71

.j

1 0 1 .fi

1-72




l - < sa

INITIAL

1-70

1M . 8
_ _ .m s**..

110 .a

X
! ...

112*5—

QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LO UIS
AUGUS T .1*. .1972

11

PRODUCTIVITY, COMPENSATION, AND LABOR COSTS
RATIO SCALE

RATIO SCALE

196 7-1 00

196 7-1 00

SEASONALLY ADJUSTED

1964

1965

1966

1967

1968

19 69

1970

1971

1972

SOURCE« U.S. DEPARTMENT OF LAROR
PERCENTAOES ARE ANNUAL RATES OF CHANCE FOR PERICOS INOICATEO.
LATEST OAfA PLOTTED» 2ND QUARTER
PREPARED RY FEDERAL RESERVE RANK OF ST. LDUIS

UNIT LAHOR COSTS, TOTAL PRIVATE E C O NOMY
C r W C U N O F P * W U A L R A T E S O F C H A N G E _______
TfftXINAL
Q U A * T*' R

INITIAL
-6 3

3. M

4-69

1-69

2-69

3-69

1967 »

QUARTER
A r 69

1-70

2-70

W O

4-70

1-7.1

2-71

3-71

100

A=11 I z l L -----_lûl*4_

inöL_

102*2..

Jkjth____ fL1±...I*.!..
-.M

J lzASL.

10 ? * $.

i,« 3..

io.s*.i-

- I jJ 5.4

_1 û Îl L9__

_£ l* 1 ____ l * l _

.

____ il*5____ ft. 6

-2.-6.9-

6.1
JLLÛ*2_.

____ L * 2 _

_ 1 1 2 ju L_

.7.«JL. _ 1 * 2 ____ L * 1 ____ L*_2____ I* ìl _
— L«-L

-SU.L,
-JLoJ____ i . g

.AzlSL.

■ 2 ... 6,,?____ fc^J____ ftal7.»

1 1 8 .3

_LLSLJL—

___ 5uJL_

Jââ.,

5 «q

_1*3___ 2*£___ 3*- 3,

_i*i____ 5lU _

--- 1x13___ 1*1___JL*4___ 2*5___ 1*1:..-2.6.
3.4

„^ .
,.1

7

- 2 * 1 ____ l*iî____ 1 * Û ____ 2 * 2 ____ 2 . 6

2.0

- £ u 5 ____ i u J ____ l a i---- 1 * $ ---- 1 * 3 ---- 1 * 2 ---- 1 * 1 ---- 2 * 1 ---- 1 * 2

_5*J____ 1* 1 .
>-7

1 2 1 .,.2
122.1..

- i * 2 ____ i * 2 ____ àuLi____ l * ü ---- i x ü ---- 1 * 5 ---- 1*1.

. ^ 5 ____ i*JÏ

5 . 3 ____ 5*2..,
- i r l i ..

-J&-a-2

-¿.«-à____ É u J ____ éujì ____ ________ 5 ^ 2 ____ 4 * 6 -

fr.2

- 5 ^ ___ 7,

_L=2JL.

_1JJL*SL_

_Éi^5____ fi*â____ ________________________ *-J---- 2 * û ------- 2L*JL

Q,. ?

S lêJ l .

-2r.7-L..

7.1)

1 1 5 .6

g«B

-ÏU2-

6 --9_____ 7 . 0

w a .

4.7

4.7

4 - A

.4
—67

4- i>7

1 —6 *




4. a

**-7

4.S

4.4

4.1

3.*

3.1

i

3-t.*}

4-63

1-69

2-69

1-69

4-69

2-6

IN ITIA L

_L23*2_
■
121.fr.

ltl

125,1-

3 . 0 ___ Lu i____ £ * £ _

2 .6

2 .*

2 .8

2 .2

2 .4

2 .Ò

1.8

2.1

- 0.6

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1

1-72

124.9

QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
A U Û U iL .3 .

1912

12
CONSUMER PRICE
COMPOUNDED

INDEX,
ANNUAL

IN ITIA L
1-71
2-71

2-71

3-71

4-71

5-71

6-71

7-71

9-71

9-71

SEASONALLY ADJUSTED
R A T E S OF C H A N G E
1967

MONTH

10-71

11-71

12-71

1-7?

2-72

3-72

4-72

5-72

6-72

7-72
1 19 .65

JkQ__________________________________________________________________________________: _______________________________
_

1 19.90

3 -71

120.21

4 -71
4.7

6.3

4.2

A.7

5.5

4.8

A .8

-5-71

4.0

4.3

4.6

4.1

3.7

4.1

3.7

-6-71.

8-71

3.9

4.0

1 20.82
121.29

122.03
122.20

9-71

3.6

3.7

3.9

4.0

3.5

3.0

2.9

1.7

10-71

3.4

3.5

3.6

3.7

3.1

2.7

2.6

1.8

11-71

3.3

3.3

3.4

3.5

3.0

2.7

2.5

1.9

12-71

3.3

3.4

3.5

3.5

3.1

2.8

2.7

2.4

2.6

3.0

3.8

1-72

3.4

3.4

3.5

3.5

3.2

2.9

2.9

2.6

2,9

3.2

3.7

3.6

2-72

3.6

3.7

3.8

3.9

3.6

3.4

3.5

3.4

3.7

4. 1

4. f
l

5.3

\
7.0

3-72

3.4

3.4

3.5

3.5

3.3

3.1

3.1

2.S

3.1

3.4

3.7

3.6

3.7

o . N .

124,10

4-72

3.3

3.3

3.4

3.4

3.?

3.0

3.0

2.8

3.0

3.2

3.3

3.2

3.1

1.2

124.31

5-72

3.3

3.4

3.4

3.5

3.2

3.1

3.1

2.9

3.1

3. 3

3.5

3.4

3.3

?.l

3.0

4 . 0 ^ ^

6-72

3.2

3.2

3.2

3.3

3.0

2.9

2.8

2.7

2.8

3.0

3.1

2.9

2.8

1.8

2.2

2.3

0 . 7 ^ V

7-72

3.3

3.3

3.4

3.4

3.2

3.1

3.0

2.S

3.1

3.2

3.3

3.2

3.2

2.4

3.0

3.3

2.9

5. 1 ^ n .

8-72

3.3

3.3

3.3

3.4

3.2

3.1

3.0

3.1

3.2

3.3

3.2

3.2

2^5

3.0

3.2

2.9

4.1

1-71

2-71

3-71

4-71

5-71

6-71

7-71

9-71

10-71

11-71

12-71

1-72

2-72

3-72

4-7?

5-72

6-72

122.39

1.9

122.62

2.3

8-71

INITIAL

123.00
123.36
y

+ 2 . 9 %

124.06

PRICES

-

INDUSTRIAL

COMMODITIES,

INITIAL

TERMINAL
M1NTH
1-71

2-71

3-71

4-71

5-71

6-71

7-71

8-71

9-71

124.79

3.0.

125.31
1

125.62

7-7?

MONTH

P R E P A R E D PY F E D E R A L
S E P T E M B E R 22, 1972

WHOLESALE

124.72

10-71

SEASONALLY

RESERVE

BANK

OP

1967
12-71

t-72

2-72

3-72

4-72

5-72

6-72

*

LOO

7-72
1 12..26

2-71

1.7

3-71

2.5

3.4

4-71

3.5

4.4

5.5

5-71

4.0

4.3

5.6

5.7

6-71

4.1

4.6

5. 1

4.9

4.1

7 - 7 1 ...

4.6

5.2

5.6

5.7

5.7

7.3

3-71

4.9

5.4

5.9

6.0

6.0

7.0

6.3

112..57
113..07
113. .59
1 1 3 . .97
_

..........-

*

9-71

4.2

4.5

4. 7

4.6

4.3

4.4

3.0

-0.6

3.5

3.7

3.7

3.4

3.0

2.7

1.3

-1.4

-2.2

11-71

3.2

3.4

3.4

3.1

2.7

2.4

1.3

-0.5

-0.5

11 5 . .21
1 1 5 . ,00
1.3

1 1 5 . ,12

12-71

3. 2

3.4

3.4

3. 1 *

2. 7

2.5

1.6

0.3

0.0

2.1

2.9

1-7?

3.3

3.4

3.5

3.2

2.9

2.8

2.0

1.1

1.5

2.8

3 .6

4.3

2-7?

3.4

3.6

3.6

3.4

3.1

3.0

2.4

I.

? .2

3.3

4.0

4.6

7

1 1 5 . ,39

^

+ 3 .0 %

1 1 5 . ,80

4.9

1 1 6 . .26

3-7 2

3.4

3.5

3.6

3.4

3.2

3. 1

2.5

1.9

¿.4

3.3

3.6

4.2

4. 1

3.2

4-72

3.5

3.7

j. r

3.5

3.3

3.3

2.a

2.4

2.^

3.6

4. 1

4.4

4 .5

4 .3

5.3

5-7 2

3.6

3.7

3.7

3.6

3.4

3.4-

3.0

2.6

? .0

3.7

4. 1

4.4

4.4

4.3

4.8

4.3

6-72

3.7

3.8

3.3

3.7

3.6

3.5

3.2

2.8

3. 2

3.9

4.3

4.5

4.6

4.5

4.9

4.7

5 .1

7-7?

3.6

3.7

J.S

3 .c

3.5

3.5

3. 1

¿.Z

3.2

3.8

4. 1

4 .3

4 .3

4. 1

4 .4

4 .1

3 .9

2 . a

4-7?

3.7

3. a

3.n

3 .7

3.6

3.5

3.2

3.0

J. 3

3.9

4. 1

4 .3

4. 3

4.2

4.4

4 .2

4 .1

3 .7

3-71

4-71

1

6-71

7-71

>1-71

3-71

10-71

2-72

3-72

4-72

5-72

6-72

¿-71
’




W

m . .64
1 1 5 . ,27

10-71

1 - 71

LOUTS

ADJUSTtD

ML1NTH
11-71

ST.

INITIAL

11-71

12-71

1-7?

11 6 . ,57
1 1 7 . ,07
117. 48
1 1 7 . .9 7
1 1 8 . ,2 4

'

N
4 .6

1 1 8 « ,68

7-72

MONTH

PREPARED BY FEDEXAL
StPTEMBfcfl 8 , 1972

RESERVfc

BANK UF

ST.

L O U IS

13

RATI O

PRICES

SCAL E

1967-100

SEASONALLY

1964
PERCENTAGES
LATEST

1965
ARE

ANNUAL

DATA P L O T T E D :




1966

1967

RATES

OF CHANGE

RATIO

1967 = 100

ADJUSTED

1968
FOR P E R I O D S

1969

SCAL E

1970

1971

1972

INDICATED.

AUGUST

P R E P A R E D BY F E D E R A L

RESERVE

BANK OF S T .

LOUIS

14
W H O L E S A L E P R I C E S - ALL
_________________ C O M P n U N D F O

COMMODITIES,
ANNUAL RATES

SEASONALLY ADJUSTED
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 __________________________________________________________________________1 9 6 7
MONTH
1-71
2-71
3-71
7-72
4-71
5-71
6-71
6-72
7-71
8-71
9-71 10-71 11-71 12-71
1-72
2-72
3-72
4-72
5-72
2-71

7.1

3-71

4.8

2; 6

4-71

5.1

4.1

*

100

112.46
112.70
113.21

5.6

5-71

4.7

3.9

4.6

3.7

6-71

4.7

4.2

4.7

4.3

4.9

7-71

4.3

3.8

4.1

3.6

3.6

113.55
114.00
114.22

2.3

8-71

5.0

4.7

5.1

5.0

5.4

5.7

9.2

9-71

3.9

3.5

3.6

3.2

3.1

2.5

2.6

-3.6

10-71

3.7

3.2

3.3

3.0

2.8

2.3

2.3

-0.9

1.8

11-71

3.4

3.0

3.1

2.7

2.6

2.1

2.1

-0.2

1.6

1.4

12-71

3.8

3.5

3.6

3.3

3.3

3.0

3.1

1.7

3.5

4.3

1-72

4.0

3.8

3.9

3.7

3.7

3.5

3.7

2.6

4.3

5.1

7.0

6.7

2-72

4.2

4.0

4.1

4.0

4.0

3.9

4. 1

3.3

4.3

5.5

6.9

6.7

6.7

3-72

4.0

3.8

3.9

3.7

3.7

3.6

3.8

3.0

4.2

4.7

5.5

4.9

4.0

1.3

4-72

4.0

3.8

3.9

3.7

3.7

3.6

3.7

3.1

4.1

4.5

5.1

4.5

3.8

2.4

3.4

5-72

4.1

3.9

4.0

3.9

3.9

3.8

3.9

3.4

4.3

4.6

5.2

4.7

4.2,

3.4

4.5

5.6

6-72

4.2

4.0

4.1

4.0

4.0

3.9

4.1

3.6

4.4

4.8

5.2

4.9

4.5

4.0

4.9

5.6

7-72

4.4

4.3

4.4

4.3

4.3

4.3

4.5

4.0

4.3

5.2

5.7

5.4

5.2

4.9

5.8

6.6

7.2

8.6

8-72

4.6

4.5

4.6

4.5

4.6

4.5

4.7

4.4

5.1

5.4

5.9

5.7

5.6

5.4

6.2

7.0

7.4

8.3 .

1-71

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

115.06
114.71
114.88

INITIAL

115.01
115.69

7.3

116.32
116.95
117.08
117.41

118.49

5.7

6-72

119.31
7.9

120.07

7-72

MONTH

P R E P A R E D 8Y F E D E R A L
S E P T E M B E R 8, 1 9 7 2
WHOLESALE PRICES-FARM PRODUCTS AND PROCESSED
__________________________ C O M P O U N D E D A N N U A L R A T E S O F
T E R M I N A L ________________________________________________________________________ I N I T I A L

117.94

RESERVE

BANK

OF

ST.

LOUIS

F O O D S A N D F E E D S , SE"AS. A D J .
C H A N G E ______________________________________________________________________

M O N T H __________________________________________________________________________1 9 6 7 «

100

month

1-71

2-71

3-71

4-71

5-71

6-71

7-71

3-71

9-71

10-71

2-71

11.3
9.7

2.7

7.0

2.5

4.3

7.1

2.9

4.3

3.2

4.4

O.b

1. 1

-0.7

-2.1

5.9

3.0

3.9

3.2

3.6

3.2

9-71

3.3

0.5

0.7

-0.4

-1.1

-2.8

10-71

4.5

2.1

2.6

1.9

1.9

1.3

4.7

-0.5

4.5

2.4

2.8

2.3

2.3

1.9

4.6

1.1

9.3

5.6

3.8

4.4

4.1

4.4

4.4

7.1

5.1

12.2

10.9

7-72

4.3

12-71

6-72

14.7

11-71

5-72

-8.1

8-71

4-72

4.3

7-71

3-72

2.1

6-71

2-72

6.6

5-71

1-72

-1.1

4-71

12-71

25.2

3-71

11-71

113.0
112.9
113.5
113.7
114.1
113.3
15.9

114.7

0.0 -13.7

113.3
114.6
115.0
18.0

116.6

1-72

6.0

4.4

5.0

4.8

5.2

5.3

7.7

6.2

11.8

10.9

14.4

10.8

2-72

6.7

5 . 3__

5.9

5.8

6.3

6.5

8.8

7.6

12.5

12.0

14.7

13.0

15.3

3-72

5.9

4 .£>

5.0

4.9

5.2

5.3

7.1

5.9

9.6

8.6

9.7

7.0

5.2

-4.0

4-72

5.4

4.2

4.6

4.4

4.6

4.6

6.2

5.0

8.0

6.9

7.5

5.0

3.1

-2.5

-1.0

5-72

5.7

4.5

4.9

4.8

5.0

5.1

6.5

5.5

8.2

7.3

7.8

5.9

4.7

i .4

4.1

9.5

6-72

5.7

4.6

5.0

4.9

5.1

5.2

6.5

5.6

3.0

7.2

7.6

5.9

5.0

2.5

4.8

7.8

7-72

6.7

5.7

6.1

6.1

6.4

6.5

7.9

7.2

9.5

8.9

9.5

8.4

8.0

6.6

9.4

13.1

14.9

24.4

3-72

7.3

6.3

6.8

6.8

7.1

7.3

3.6

8.0

10.2

9.8

10.4

9.5

9.4

8.4

11. 1

14.3

15.9

21.2

18.0

1-71

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




INITIAL

117.6
119.0
118.6
118.5
119.4
6.2

120.0
122.2
123.9

MONTH

PREPARED BY FED ERAL RESERVE
SEPTEMBER 8 . 1972

BANK OF S T .

LOUIS

_

15
GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

195 8-1 00

1964

SCALE

195 8-1 00

1965

1966

1967

19 68

1969

«AS USED IN NATIONAL INCOME ACCOUNTS

1970

1971

1972

SOURCE: U .S. DEPARTMENT OF COMMERCE

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS

INDICATED.

LATEST DATA PLOTTED: 2ND QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
I M P L I C I T P * I C * O f c f l a t i j K f o r g r u s s n a t i o n a l P R O D UC T
______________ C.OMPOUNOfcl) ANNUAL K A T E S OF CHANGE____________________________________

TC'<M INM.
OUARTFR

I N I T I A L UUAATfcR
1-67

4- 6 7

4-67

1- 68

2- 68

3- 6H

4-6d

1- 69

2-69

.3-69

4.7

4-69

1- 70

1938 2-70

4-70

3- 70

1- 71

3- 71

2- 71

4- 71

100

1- 72

119, 15

1- 68

4.2

3. 6

?- 63

4. 1

3. 8

3. 9

120*42

3 - «SH

4. 1

4. 0

4. 1

4.3

4- 6B

4.2

4. 1

4.3

4.5

1- 69

4.2

4. 1

4. 3

4.4

4.4

4. 2

?-6?

<».4

4.4

4. 5

4.7

4.8

4.9

5.5^

3-69

4. 6

4.6

4.9

5. Ü

5. 1

5. 3

5. 3

4-69

4. 7

4. t

4.0

5.0

5. 2

5. 3

5. 7

5. 8

5. 5

1- 70

4.9

4.0

5. 1

5. 3

5. 4

5. 6

5.9

6.0

u. O

6 .5 V ^

?-7f)

4. P

4. 9

5.0

5. 1

5. 3

5.4

5.6

5.6

5.4

5.4

3-n

4. #

4. S

4.9

5.0

5. 1

5.2

5. 3

5. 3

5. 1

5. 0

4.2

4 > V

4-70

4.<>

4.9

5.0

5.2

5.2

5. 3

5.5

5. 5

5. 4

5. 3

4.9

5. 2

6 . 5 ^

117*85

1- 71

5. 0

5.0

5. 1

5.2

5. 3

5. 4

5.5

5.5

5.5

5. 4

5.2

5. 5

6. 2

119. 84

2- 71

4.c
>

5.0

5. L

5.2

5. 2

5. 3

5.4

5.4

5.3

5. 1

5. 0

5. 2

5.6

121*37
122. 87
1

V
4.0

. + 4 .8 %

___

424# 26

_

127. 24

123. 33

6. 1

.

+ 6 .0 %

129. 14
130. 88

'

132, 97

4 . ^ ^

+ 5.2 %

1) 4*1 8

.

135. 71

5. 1

„

141. 34

X
^

4. 1%

142*13
142*88

3- 7 1

4. a

4.3

4.9

5.0

5. 0

5. 1

5.2

5. 1

>. 0

4. 9

^ •6

4. r

4.9

4# 4

3.6

2.9

4- 71

4. 6

4. 6

4. I

4.7

4.8

4« %

4. Ö

4. 7

4. 6

4. 5

4.2

4.2

4.2

3.6

2.9

2.2

U 5 X

1- 72

4. 6

4.6

4.7

4. Ö

4.8

4.8

4.8

4.8

4.6

4«6

4. 3

4.3

4.4

3.9

3. 5

3.2

3.3

> ,Ì \ .

144.68

2- 72

4. 5

4.5

4.5

4.6

4.6

4.6

4.6

4.5

4.4

4. 3

4.0

4.0

4.0

3. 6

3. 1

2 . ft

2.8

3.5

143.14

3- 67

4- 6 7

1- «M

3- 68

4- 6 *

1- 69

2-69

3- 69

4-fc9

1- 70

2-70

W O

4- to

i-7t

3- 71

4- 71




INITIAL

2- 71

1.w
1- 72

QjARTR

PREPARED BY F CJERAL REStRVt BANK UF S Ì .
AUGUST IS , 1972

L O U IÌ

I NVENTORI ES COMPARED WITH MONTHLY S A L E S *
MANUFACTURING

AND

TRADE
72

68
64

60

56

52
1 . 50_

48

44

40

36

1 . 36
1958
* R A T I OS

1959

1960

BASED

ON

1961

1962

SEASONALLY

1963

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 BY THE N A T I O N A L B U R E A U
LATEST




DATA

PLOTTED:

JULY

1964

1965

1966

1967

DATA.

1968

SOURCE:

1969

1970

U . S . DEPARTMENT

1971
OF

1972

COMMERCE

BUSINESS RECESSIONS
OF E C O N O M I C R E S E A R C H .

PRELIMINARY

P RE P ARE D

BY FE D E RAL

RESERVE

BANK

OF ST.

LOUIS

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