View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

O ver the past decade, there w ere many effo rts by policymakers to change
the trend and composition o f government expenditures. The accompanying table
sum m arizes trends in government expenditures over the past 10 years. The period is
divided into two subperiods in order to remove the distorting e ffe c t o f the business
cycle on expenditures. The first subperiod is from the business cycle peak in 1973 to
the peak in 1980, and the second subperiod covers developments since then.
As the table shows, the growth of total government expenditures (adjusted
to avoid double counting o f federal grants-in-aid) changed little between the
subperiods. Expenditures by state and local governments slowed significantly
whereas federal expenditure growth changed little.
The
three years;
The slowing
o f growth in

composition o f federal expenditures shifted markedly over the past
defense expenditures accelerated while those for nondefense slowed.
o f nondefense expenditures, in turn, was attributable to a deceleration
expenditures other than transfer payments.

Total government expenditures grew faster than the nation's G N P . As a
result, total government expenditures were 35.4 percent o f G N P in the second
quarter of 1983, compared with 30.4 percent about 10 years earlier. A ll o f the rise
in this proportion was attributable to the federal government and was focused
largely in the growth of transfer payments.
— Keith M. Carlson
TR E ND S IN G O V E R N M E N T E X P E N D IT U R E S
Compounded annual rates o f change
1/1980
to
11/1983
T o ta l governm ent!/
Federal
Defense
Nondefense
T ransfer payments
Other
State and local
GNP

IV/197 3
to
1/1980

11.1%
12.1
15.2
11.2
13.4
8.6
6.8
7.7

11.4%
12.4
9.0
13.6
14.4
12.7
10.1
10.5

Percent o f G N P
ÏÏA1983
Î/1980"
IV/1973
35.4%
25.0
6.1
18.9
10.6
8.3
13.1

32.0%
21.9
4.9
17.0
9.0
8.1
13.4

30.4%
19.7
5.3
14.4
7.2
7.1
13.7

—

—

—

1/ Adjusted for federal grants-in-aid to state and local governments.
Views expressed do not necessarily reflec t o ffic ia l positions of this Bank or the
Federal Reserve System.



_
TOT AL C I V I L I A N EMPLOYMENT____
COMPOUNDED ANNUAL RATES OF CHANGE
M
I N I T I A L 1 ONTH

term inal

THOUSANDS
OF PtRSONS

MONTH
1-82

2-82

-1 .3

5-8 2

6-8 2

7-82

8-8 2

9 -8 2

10 -8 2 1 1 -8 2 12 -82

1 -8 3

2-8 3

3 -8 3

4-8 3

5-8 3

6-8 3

7-8 3

-1 .2

-0* 8

4 -8 2

0*1
-0 .5

99 ,6 9 5
9 9 ,5 9 7
-1 .4

99 ,4 8 4

5 -8 2

0.9

1.2

2 .4

6 .3

6 -8 2

-0 .0

-0 .0

0.3

1.2

-3 .7

7 -8 2

-0 .2

-0 .3

-0 .0

0 .4

-2 .4

-l.l

8 -8 2

-0 .0

-0 .0

0 .2

0 .6

-1 .2

0 .0

1.2

>
0
1
0
0

1
*

CD

2 -8 2
3-92

3-82

-0 .2

-0 .3

-0 . 1

0. 1

-1 .3

—0 . 6

-0 .3

-1 .7

10 -82

-0 .7

-0 .8

-0 .7

-0 .6

-2 .0

-1 .5

-1 .6

-3 .0

-4 .3

11-8 2

-0 .7

-0 .7

-0 .7

-0 .6

-1 .7

-1 .3

-1 .4

-2 .2

-2 .4

-0 .5

1 2 -8 2

-0 .7

-0 .7

-0 .7

-0 .6

-1 .5

-1 .2

-1 .2

-1 .8

-1 .8

-0 .5

-0 .6

9 9 ,9 9 4
9 9 ,6 8 1
99 ,5 88
9 9 ,6 8 3
99 ,5 43
99 ,1 7 6
9 9 , 136
-0 .5

99 ,0 9 3

1 -8 3

—0 . 6

—0 . 6

-0 .5

-1 .3

-1 .0

-1 .0

-1 .4

-1 .3

-0 .3

-0 .2

0.1

2-83

—0 . 6

-0 .6

-0 .6

-0 .5

-1 .2

-0 .9

-0 .9

-1 .2

— 1.2

-0 .3

-0 .3

-0 .2

-0 .5

3 -8 3

-0 .5

-0 .5

-0 .5

-0 .4

-1 .1

-0 .8

-0 .7

-1 .0

-0 .9

-0 .2

-0 .1

0 .0

0.0

0 .5

4 -83

-0 .2

-0 .2

-0 .1

-0 .0

-0 .6

-0 .3

-0 .2

-0 .3

-0 .1

0.6

0 .8

1 .1

1.4

2 .4

4.4

5-83

-0 .1

-0 .1

-0 .0

-0 .4

-0 . 1

-0 .0

-0 .2

0 .0

0 .7

0 .9

l . l

1 .4

2 .0

2.8

1.2

6-83

0.8

0.8

1.0

1 .1

0 .7

l . l

1.3

1.3

1 .7

2.4

2.9

3 .4

4.1

5.3

7.0

8.3

15.9

7 -8 3

l . l

1 .1

1.3

1.4

l . l

1 .5

1.7

1.8

2.1

2 .8

3.3

3.8

4 .5

5.5

6.8

7 .6

10.9

6 .1

8 -8 3

1 .2

1 .2

1 .4

1.6

1 .3

1.6

1 .8

1 .9

2 .2

2.9

3 .3

3.8

4.3

5 .1

6 .1

6 .5

8.3

4.7

1-82

2-82

3-82

4-8 2

5-8 2

6-82

7 -8 2

8-8 2

9 -8 2

10 -82

12 - 9 2

L -8 3

2-43

3-9 3

4-9 3

5 -Û 3

4-8 3

5-83

0. 1

99 ,1 0 3
9 9 ,0 6 3
9 9 ,1 03
99 ,4 58
9 9 ,5 5 7
10 0,78 6
10 1,285
3 .3

10 1,563

7-8 3

I N I T I A L MONTH

COMPOUNDED iANNUAL RATES OF CHANGE
TERMINAL
MONTH

I N I T I A L MONTH
1-82

2 -8 2

-1 .2

3-82

4-8 2

5-82

6-82

7-82

8-82

9-82

THOUSANDS
OF PfcPSONS

10-82 1 1 -8 2 12-82

1-8 3

2-8 3

3-83

6 -8 3

7-8 3

0.3

3 -8 2

2-8 2

90 ,4 1 7
-2 .8

90 ,2 0 7

4-82

-1 .6

-2 .6

-2 .4

5-82

-1 .3

-1 .8

-1 .3

-0 .1

6-82

-1 .6

-2 .1

-1 .9

-1 .6

-3 .2

7-82

-2 .1

-2 .5

-2 .5

-2 .5

-3 .7

-4 .3

8- 8 2

-2 .1

-2 .5

-2 .5

-2 .5

-3 .3

-3 .4

-2 .5

9-82

-1 .9

-2 .2

-2 .1

-2 .1

-2 .6

-2 .4

-1 .4

-0 .4

10- 82

-2 .1

-2 .4

-2 .4

-2 .4

-2 .9

-2 .8

-2 .3

-2 .2

-3 .9

-2 .1

-3 .0

-2 .0
-1 .6

90,024
90,016
89,775
89,450
89 ,2 6 4
89 ,2 3 5
8 8 ,9 3 8

11 -82

-2 .1

-2 .4

-2 .4

-2 .3

-2 .7

-2 .6

-2 .2

12 -8 2

-2 .1

-2 .3

-2 .3

-2 .3

-2 .6

-2 .5

-2 .1

-2 .0

-2 .5

-1 .8

1-8 3

-1 .7

-1 .8

-1 .8

-1 .7

-1 .9

-1 .7

-1 .3

—I . 0

-1 .2

-0 .2

0.7

3.0

88 ,7 8 5
88 ,6 6 5
88,886

2-83

-1 .7

-1 .8

-1 .8

-1 .7

-1 .9

-1 .7

-1 .3

-1 .2

-1 .3

-0 .6

-0 .2

0 .5

-1 .9

3- 8 3

-1 .5

-1 .6

-1 .5

-1 .5

-1 .6

-1 .4

-l.l

-0 .9

^9.9

-0 .3

0 .1

0 .7

-0 .5

0.9

4-8 3

-1 .2

-1 .3

-l.l

—1.0

-l.l

-0 .9

-0 .5

-0 .3

-0 .3

0.3

0.8

1.4

0.9

2.4

3*8

5-83

-0 .8

-0 .9

-0 .7

-0 .6

-0 .7

-0 .4

-0 .0

0.2

0.3

0.9

1.4

2.1

1.8

3.1

4.2

6-83

-0 .4

-0 .5

-0 .3

-0 .2

-0 .2

0.1

0 .5

0.8

0.9

1 .5

2.1

2.7

2.6

3.8

4 .7

5.2

5.8

7-83

-0.1

-0 .2

-0 .0

0 .2

0.2

0.4

0.8

1.1

1 .3

1.9

2 .4

3.0

3.0

4.0

4.8

5.1

5.4

4.9

8-83

-0 .4 '

-0 .5

-0 .3

-0 .2

-0 .2

0.0

0 .4

0.6

0 .7

1.2

1.5

1 .9

1.8

2.4

2.7

2.4

1.7

^0 .4

5-92

6-92

7- 9 2

8-9 2

9 - 8 2 10 -8 2 1 1 -8 2

12 -82

1-83

2-8 3

3-85

J-9 2

3-82

88,745
88,814
8 9 ,0 9 0
4 .6

89 ,4 2 1
89,844
90 »202P
-5 .3

89 ,79 1P

5—83

I N I T I A L MONTH
P - PRELIMINARY




PREPARED BY .FEDERAL RESERVE AAMK ÛF S l ^ LOUIS
SEPTEMBER 2 , 1983

2

EMPLOYMENT
RATIO

SCALE

MILLION S

I 15

OF

RATIO
PERSONS

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

M ILLION S

T

1
»
5

OF

1
*

?!
1
5

ii

I

§

I 15

1

$

V.

I

1

1 10

SCALE

PERSONS

*

I 10

*

105

105
*/. rx

TOI T AL
100

+2. ox
’

IL-. / - H

\' l& l
j O

-2. rz

95

.6

100

-/. tz

95

V

*2 . oz

+/. 9Z

+2. 4Z

90

■1/89.8
-3.2Z

-J9Z

90

"

85

85
PAYI^OLL

80

80

75

75
*

*

*
70

1976

1977

1978

5

s

*

t

t

V.

*

H

t

♦

1975

s

19 7 9

t

1980

1981

I
1982

t

70

1983

SOURCEi 9 . S.DEPARTMENT OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER IO DS INDICATED.
LATEST DATA PLOTTED. AUGUST PRELIM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS

UNEMPLOYMENT RATE
SEASONALLY

PERCENT

ADJUSTED

PERCENT

12.0

11.

11.0

10.

10.0

9.

9.0

8.

8.0

7.

7.0

6.

6.0

5.

5.0




4.

4.0
1975

1976

1977

1978

1979

1980

1981

1982

1983

SOURCEt 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. LO U IS

3

CONSUMER PRICE INOEX FOR ALL URBAN CONSUMERS * SEASONALLY ADJUSTED*
_____________________ COMPOUNDED ANNUAL RATES Of CHANGE_______________________
TERMINAI___________________________________________________ _______________ I N I T I A L MONTH____________________________________________________________________1967«1QQ
MONTH
1-8 2
3 -8 2
6 - 9 2 _7—82 8 - 8 2
4-8 2
5-92
2-82
1- 8 3
2 - 8 3 3—ft 3 4 - 8 3 ■¿-A3 A - A 3
9 - 8 2 10 -8 2 1 1—82 12— 82
7-fl3
2 -8 2

0*9

3 -8 2

0.2

4-82

I. 1

283 .4
-0 .4

2A3. .3

1*3

3*0

2A4..n
13.0

5 -8 2

4.0

5.0

7.9

6—82

5.9

7,2

9.8

13*4

13*9

7-82

6.1

7.2

9 .2

11*3

10*5

8-82

5.8

6.6

a. i

9 .4

8.2

5.5

3.8

9-82

5 .2

5.8

6.9

7.7

6 .4

4.1

2 .5

1*2
3*1

286..9
2<*0..0
7*3

291 -.7
292 -

5 .2

5.7

6.6

7 .2

6*1

4.3

3*3

4.6

5 .1

5 .8

6 .2

5.1

3.4

2*5

2*1

2*5

0*0

12-82

3.9

4 .2

4 .7

5.0

3*9

2 .3

1*3

0*7

0*5

-1 .6

-3 .2

1 -8 3

3.7

4 .0

4 .5

4*6

3*6

2*3

1*4

1*0

0.9

-0 .4

-0 .6

2.1

2 -8 3

3.3

3.5

3.8

3.9

2*9

1.7

0*9

0.4

0*2

-0 .9

-1 .2

-0 .2

-2 .4

3 -8 3

3 .1

3.3

3 .6

3 .7

2*8

1.7

1*0

0.6

0*5

-0 .4

-0 .5

0 .4

-0 .4

1.6

3.4

3.6

3.9

4.0

3*2

2*2

1*6

1*4

1.4

0.9

1.0

2.1

2.1

4 .4

7 .2

3 .6

3.8

4.1

4 .2

3.5

2.6

2.1

2*0

2*1

1.6

1.9

3.0

3.2

5.1

6.9

6.7

3.5

3.7

4.0

4.1

3 .4

2.6

2*2

2*0

2*1

1.7

2.0

2.9

3.0

4 .5

5.4

4 .6

2 .5

1

1
CD

V
*

CO
u>

10-82
11-82

1

292.

6-83

294..1

5.0

294.
2<>3..3
293.
293-»2
293.
.3
.9
297..5

7-83

3 .6

3.8

4.0

4.1

3.5

2.8

2*4

2*3

2*4

2*1

2*4

3.2

3.4

4.6

5.3

4*7

3.7

. 4.9

8-83

3.7

3 .9

4.1

4 .2

3.6

2.9

2*6

2*5

2*6

2*4

2*7

3.4

3.6

4.7

5.3

4 .9

4.2

5.1

5.3

1-82

2 -8 2

3 -8 2

4-82

5-82

6 -8 2

7 -8 2

8-82

9-82

10-82

11-8 2 12-82

1-83

2-83

3 -8 3

4 -8 3

5-83

6 -8 3

7-83

298..7
300. 0

I N I T I A L MONTH
»PATA BEGINNING 1983 INCORPORATES RENTAL EQUIVALENCE MEASURE.

PREPARED BY FEDERAL RESERVE BANK OP S T . LOUIS
SEPTEMBER 2 3 . 1983
PRODUCER PRICE INDE X, F INI SH EO GOODS - SEASONALLY ADJUSTED*
________________ COMPOUNDED ANNUAL RATES OF CHANGE_________________
1967 * 100

I N I T I A L MONTH

TERMINAL
1-82
2-82

2 -8 2

3 -8 2

4-82

5-82

6 -8 2

7 -8 2

8-82

9-82

10 -8 2 11 -82

12-82

1-8 3
_

2-93

3 -9 3

4-9 ?

5-9 3

6 —93

7-83
2 7 7 .5

0 .9

276. a

3 -8 2

-1 .1

-3 .0

4-8 2

-0 .3

-0 .9

1.3

5- 8 2

-0 .2

-0 .6

0 .7

2.3

2 .6

4.6

6 .2

12.8

7-82

2 .8

3.2

4.8

6.1

9.2

5 .7

8 -8 2

3.2

3.6

5.0

6.0

8.0

5.7

5.7

3 .3

4 .4

5.0

6.3

4 .2

3.5

6-82

27 7 .1
0.0

277.1
279.9
2 9 1 .2
292,5
1.3

2 0 2 .0

9 -8 2

3 .0

10 -8 2

3.1

3.4

4.4

4 .9

5.9

4.2

3 .8

2 .8

4.3

11 -8 2

3 .6

3.9

4.8

5.3

6.2

4 .9

4 .7

4 .3

5.9

7.4

1 2- 82

3 .6

3.9

4.7

5.1

5.8

4 .7

4 .5

4.2

5.2

5.6

293 tff
29 5. 5
3.8

296*4

1 -8 3

2.2

2 .3

2.8

3 .0

3.4

2.1

1.5

0 .7

0.5

-0 .7

-4 .5

-1 2 * 2

2 -8 3

2 .2

2.3

2.8

2.9

3.2

2 .1

1.6

0 .9

0.9

0.0

-2 .4

-5*3

2.1

3- 8 3

1.8

1.8

2.2

2 .3

2.6

1 .5

1.0

0 .3

0.1

-0 .7

-2 .6

-4 * 7

-0 .6

-3 .3

4—83

1.6

1.7

2.1

2.1

2.3

1.3

0.9

0.3

0.1

-0 .6

-2 .1

-3 * 5

-0*4

-1 .7

0*0

5-83

1 .7

1 .8

2.1

2.2

2.4

1.5

l.l

0 .6

0.5

-0 .1

-1 .3

-2 .2

0*4

-0 * 1

1*5

6-83

2.0

2 .0

2 .4

2.4

2 .6

1.8

1.5

1.1

1.0

0.6

-0 .3

-1 .0

1*4

1*3

2*9

4t3

5.6

7-83

1.9

2.0

2.3

2 .4

2.5

1 .8

1.5

1.1

l.l

0.7

-0*1

-0 .7

1 .4

1.3

2*5

3*3

3*4

It? ..

.

8-8 3

2.1

2*1

2.4

2 .5

2.7

2.0

1.7

1.4

1. 4

1*1

0*4

0 .0

1.9

1*8

2*9

3*6

3.9

3*0

4*7

¿-82

7-82

8 -Í2

9- 8 2

10 - 8 2 1 1 -8 2 12-82

1-83

2-8 3

3-83

4-8 3

5-83

6 -8 3

7-8 3

1-82

2 -5 2 ~3 -8 2

in i

29 3 ,9
293.0
2 9 3 .0
3*0

293*7
285.0
_ 2 9 5 .3
2 9 * .4 _

T i a L Hôkth

*D ATA FOR FOUR MONTHS AGO REVISEO TO REFLECT LATE REPORTING




PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 9 , 1983

4




RATIO

P R IC ES

SCALE

1967-100

SEA SO NALLY

RATIO

CONSUMER P R IC E IN O EX B E 6 IN N IN « JANUAft i 1978 I S FOR ALL URBAN CONSUMERS ( C P I - U ) .
C P I - 0 BATA 8 E 6 IM M IH « 1983 I« C O R PO R A TE A REN TAL E 0 8 1V ALEN CE M EASURE F O * H O M E O IN C R S H IP
P ER C E N T A G ES ARE ANNUAL R A T E S Of CHAKCE FOR P E R IO D S
L A T ES T DATA PLO T T Efit

A W #ST

PRODUCER

SCALE

1967-100

SEASONALLY

P ER C E N T A C E S ARE A*#tUAL R A T E S O f
LA T E S T

BATA P LO T T E Dt

COSTS.

IN O IC A T E O .

P R EP A R ED BY FED ER A L

RATIO

SCALE

1967-100

ADJUSTED

A06U ST

R E S E R V E BANK OF S T .

P R IC ES

RATIO

IN D IC A T E D .

M E P A R tD

5

SCALE

I 967- 10 0

ADJUSTED

CHANCE FOR P E R IO D S

L O 0 IS

BY FED ER A L

R ESERVE B A «

OF S T .

L M IS

PRODUCER PRICE INDEX, F I N I S H E u CONSUMER FOODS - SEASONALLY ADJUSTED*
____________________ COMPOUNDED ANNUAL RATES OF CHANGE___________________________
TERMINAL
MONTH

I N I T I A L MONTH
1-82

2 -8 2

3-82

5-82

4-82

6—82

7-82

2-82

2.8
8.7

9.2

7 .3

7 .2

12.0

7.0

6.8

9.8

4.4

2.4

1. 3

2.1

-3 .6

-6 .9

2 .2

1 .2

1.9

-2 .5

-4 .3

-9 .0

0.9

257*0

261*6

2 5 9. 2
259.4 _

1.2

0.3

0.7

-3 .0

-4 .5

-7 .7

-2 .1

-5 .0

0.2

0.5

-2 .6

-3 .7

-5 .9

-1 .5

-2 .7

-0 .5

1 1- 82

0.9

0.2

0.5

-2 .2

-3 .1

-4 .8

-1 .2

-1 .8

-0 .2

2 5 9 .3
258.2
0 .0

_25 9.2

12 -8 2

l.l

0.5

0.7

-1 .6

-2 .3

-3 .5

-0 .4

-0 .7

0.8

1.4

2.8

1-83

0.8

0.2

0 .4

-1 .7

-2 .3

-3 .4

-0 .7

-1 .0

0.0

0.2

0.2

-2 .3

2-83

1.7

1.2

1.5

-0 .3

-0 .7

-1 .5

1.1

1.2

2.4

3. 2

4 .2

5.0

12.8

3 -8 3

1.7

1.3

1.6

-0 .1

—0 . 4

-1 .1

1.3

1.3

2.4

3.0

3.8

4.1

7.4

2 .3

4-83

2.5

2 .1

2.4

1.0

0.8

0.3

2.6

2 .8

3.9

4.7

5 .7

6.4

9.5

7.8

5-83

2.0

1 .6

1 .8

0.5

0.2

—0 . 2

1.7

1 .8

2.7

3.1

3.7

3.8

5.4

3.1

25 9. 8
258.3
260.9
¿6 L .4
264.2
1

U
J

13 .6

26 2 .9

6-8 3

1.4

1 .0

1. 2

-0 .1

-0 .4

-0 .9

0.8

0.8

1.5

1.7

2.0

I .9

2.7

0.3

-0 .3

-6 .6

-7 .5

7-8 3

0 .9

0.5

0.6

-0 .6

-0 .9

-1 .4

0.2

0 .1

0.6

0.7

0.8

0.5

1.0

-1 .2

-2 .1

-6 .8

-7 .3

-7 .1

8-83

l.l

0 .7

0 .9

-0 .3

-0 .5

-0 .9

0 .5

0 .5

1.0

1.2

1.3

1. 1

1.6

-0 .2

-0 .6

-3 .9

-3 .3 ^

-1 .1

5*2

1-52

2-8 2

y-8 2

5 -8 2

6-82

?-&2

8 -8 2

9 -8 2

10-82

11-82

12-82

1-83

2-83

3 -8 3

4-8 3

5-83

6-8 3

7 -8 3

2 6 1 .2
25 9.6
260.7

I N I T I A L MONTH
♦DATA FOR FOUR MONTHS AGO REVI SED TO REFLECT LATE REPORTING

PRODUCER PRICE I NDEX, F I NI SHED GOODS» EXCLUOING FOODS - SEASONALLY ADJUSTED*
__________________________ COMPOUNDED ANNUAL RATES OF CHANGE______________________________
TERMINAL
MQNTti

I N I T I A L MONTH
4-82

5— 82

2 -8 2

-2 .3
-2 .7

-3 .4

-2 .3

-2 .7

-2 .3

0.9

1 .5

3 .2

6.6

9-82

1 0- 82 11 -82

1967 « 1OO
12-82

1-83

2-8 3

3-83

4 -8 3

5-83

6-8 3

7-83

-1 .3

6-82

8-82

-3 .4

5 -8 2

7 -8 2

-3 .4

4-82

6-82

-1 .3

3 -8 2

15.1

29 2.0
29 1.2
280.4
280.1
283.4

7- 8 2

3.1

4.0

5.9

9.1

14 .8

1 4 .4

8-82

3 .6

4.4

6.1

8.6

12.1

10.6

6.9

9 -8 2

3 .5

4 .2

5.6

7.4

9 .7

8.0

4 .9

28 6 .6
29 9 .2
3 .0

29 8 .9

10 -8 ?

3 .8

4.4

5.6

7.2

9.0

7.5

5.3

4.5

6.0

11 -82

4.4

5.0

6. 1

7.5

9.0

7.9

6 .3

6.1

7.7

9.5

12-82

4 .3

4 .9

5.9

7.1

8.3

7.3

5 .9

5 .6

6.5

6.8

4 .2

1-83

2 .6

2.9

3.6

4 .4

5 .1

3.7

2 .0

1.1

0.6

-1 .1

-6 .0

-1 5 .2

2-83

2.3

2.6

3.1

3.8

4.4

3. 1

1.6

0 .7

0.2

-1 .1

-4 .4

-8 .5

-1 .2

3-83

1.8

2.0

2.5

3.0

3.4

2 .2

0.8

-0 .1

-0 .6

-1 .8

-4 .4

-7 .2

-2 .9

-4 .5

-0 .6

4 -8 3

1.4

1 .5

1.9

2.4

2.7

1 .6

0.2

5 -8 3

1 .6

1.8

2.2

2 .7

3.0

2.0

0 .8

0. 1

6 -8 3

2.1

2.3

2.7

3.2

3.5

2.6

1.6

1 .1

7-83

2 .2

2.4

2 .8

3.2

3.6

2 .7

1.8

8-83

2 .4

2.6

2.9

3 .3

3.6

2 .9

2 .0

6-8 2

7-8 2

8-82

9 -8 2

------1-82

4 -8 2 “ 5

2 9 0. 3
2 9 2 .5
2 9 3 .5
289.5
2 8 9. 2
2 9 9. 1

-1 .1

-2 .2

-4 .4

-6 .4

-3 .3

-4 .3

-4 .1

-0 .2

-1 .1

-2 .7

-4 .0

-1 .0

-1 .0

0 .8

6. 0

0 .9

0.3

-1 .0

-1 .8

1.1

1.7

3.8

8.0

1 0 .0

1.4

1. 2

0.7

-0 .4

-1 .0

1 .6

2.2

3.9

6 .7

7 .1

1 .6

1 .5

1.1

0.2

-0 .3

2.0

2.6

4.0

6 .2

16—82 11 -82

12-82

1-83

2-8 3

3-83

4-8 3

28 7 .1
2 8 9 .5
2 9 0 .8
4 .2
.

5-83

29 1 .8

4*4

292.9

6-8 3

7-8 3

I N I T I A L MONTH
*OATA FOR FOUR MONTHS AGO REVI SED TO REFLECT LATE REPORTING




..

263*5_ ...

1. 0

3-8 2

.

,262.3.

9-82

2- 8 2

. .

257^4

10-82

1-82

-

7-83

-1 7 .9

8-82

6 -8 3

5 .6

7-82

5-83

4-83

3 .3

6 -8 2

2-9 a_ 3 - 8 3

21.4

5 -8 2

1-83

-1 .8

4-82

1967 Ji 100...

J . 9 - S * 11-82 -1 2 -8 2

7 .8

3-8 2

8-8 2

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 9 , 1983

6

....

INDUSTRIAL PRODUCTION
RATIO

SCALE

RATIO

1967-100
160

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

1967-100
160

1
+ 4- 0 L
3

+o. rz

155

SCALE

150.5

A

jf U
fir
/
Q♦ a t ' r

150

+ /5.

/ /

145
1 40

150

*5.4

J

145

//
/

-15. 6Z V
-15. 9 z \ I r
\ l r 16K2Z

/ [

I 40

y

135

155

135

130

130

/

125

125

* 16. i z j /

120

120

1 15

I 15

1

W
1 10

1 10

t

100

1975

k

..
1976

1977

____ &

S►

....

3
^
i. t t

1979

1980

i

. i.
1978

Î*

i1

< iI
t 1
1981

1

*
t

i

;

r,

►

...

105

105

%

t

1982

100

1983

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS INDICATED.
LATEST DATA PLOTTED« AUGUST PRELIM INARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS

INDUSTRIAL PRODUCTION
TERMINAL
MONTH

I N I T I A L i1QNTH
1-82

2-82

A.3

3- 82

4 —M
2

5-82

6-82

7-6 2

9- 9 2

9-82

10- 82 11-82

19A7 * i nn
12- 82

1- 83

2-83

3-83

4- 83

5-83

6-63

7-ai

20. 5

3-82

2- 82

142. 9
-9.6

141. 7

A —82

-1.4

- 10. 8 - 1 2 . 0

140. 2

5-82

-3.2

-10.0

- 10 .1

-8.2

6- 82

-3.4

-8.6

-8.2

-6 . 3

-4. 2

7-82

—2. 7

-6.7

-6.0

-3.9

-1.7

0.9

8-82

-2.9

-6.2

-5.5

-3.8

-2.3

-1.3

-3.4

9-82

-3.6

-6.6

"6.1

-4.9

-4.0

-4.0

-6.3

10 - 82

139. 2
138. 7
138. 8
138. 4
-9.1

137. 3

-4.7

-7.5

-7.1

-6 . 3

-5.9

-6.3

- 8 . 6 -11 .1 -13.1

11—82

-4.9

-7.4

-7.1

-6.4

-6. 1

-6.4

-8.2

-9.7

-10. 0

-6.8

12- 82

-4.3

-6.4

-6 . 1

-5.3

-4.9

-5.0

-6.1

—6 . 8

-6 . 0

-2.2

2.7

1-83

-2.3

-4.2

-3.6

-2.7

-1.9

-1.6

-2.0

-1.7

0.2

5. 1

11. 6

21.4

2-83

-1.7

-3.4

-2.8

-1.8

-1.1

-0.6

-0.9

—0 . 4

1. 4

5. 4

9.8

13. 6

6.3

3-83

-0.4

-1.9

-1.2

-0.2

0.7

1. 3

1. 3

2.0

4.0

7. 8

11. 8

1 5. 0

11. 9

1 7. 8

135. 7
134. 9
135. 2
137. 4
138. 1
140. 0

4-83

I. 1

-0.2

0.6

1.7

2.7

3.4

3.7

4.6

6.7

10. 4

14. 3

17. 3

16. 0

21.2

24.7

5-83

2. 0

0.3

1. 6

2.8

3. 7

4.5

4.9

5.8

7.9

11. 2

14. 6

17. 1

16.1

19. 5

20.4

16.2

6-83

2. 8

1. 8

2.6

3.7

4.7

5. 5

5.9

6.9

8. 8

11. 9

14. 9

17. 1

16. 3

18.9

19.3

16.6

17.0

7-83

4. 0

3. 1

3. Q

5.1

6. 1

7. 0

7.5

8.5

10. 5

13. 5

16. 3

18. 4

17. 9

20.4

21.0

19 . 8

21.7

26.6

8-83

4.3

3. 5

4.3

5.5

6. 4

7. 2

7.8

8.7

10. 5

13. 2

15. 7

17.4

16. 9

18 . 8

19.0

17.6

18.0

18. 5

11. 0

3- 82

4-42

5- 82

6-82

»-82

5-82T

9-82

10- 82 ^ r - 8 2

1 2 -52

1- 83

2-8 3

3-83

4-83

5-83

6-63

7- 83




142. 6
144. 4
146. 3
149. 2 Ÿ
1 5 0 . 5P

I NITIAL MONTH

' P R E P A I D 5? FEDERAL
SEPTEMBER 1 5 , 1983

7

RESERVE

BANK

OF

ST,

LO UIS

PERSONAL
RATIO

SCALE

TRILLIONS

INCOME
RATIO

MONTHLY TOTALS AT ANNUAL R A T E S

OF

DOLLARS

SEASONALLY

TRILLIONS

A DJUS TED

OF

SCALE

DOLLARS

2.9
2.8
2.7
2.6
2.5
2.4
2.3

2.2

2.

1

2.0
1 .9

1 .8
1. 7
1 .6
I .

1 .5

1.

1. 4

I .

1.3

I .

I . 2

1.

1.

1

1 .0

I .

1975

1976

19 77

1978

1979

1980

1981

1982

1983

SOURCE: U .S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS

INDICATED.

LATEST DATA PLOTTED« AUGUST PR ELIM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS

P E R S O N A L IN C O M E
COM POUNDED AN N U AL R A T E S OF CHANGE

BI LL I ONS OF
IN IT IA L

MONTH

"MÜNTH
1-82

2- 8 2

3- 8 2

4- 82

5- 82

6- 82

ANNUAL RATES
7- 8 2

8- 82

9- 8 2

10- 82

11- 82

12- 82

1- 83

2-83

3- 8 3

4-83

5-83

2- 82

4.3

2.7

4-82

5. 0

4.5

6.4

5- 8 2

6. 1

6.1

7.9

9.3

6-82

5. 3

5. 1

5.9

5 . 7 __ 2. 1

7- 82

5. 8

5.7

6.5

6.6

5.2

8.4

8- 8 2

4.7

4.5

4.9

4.5

2.9

3.4

-1.4

9- 8 2

4.8

4.6

4.9

4.6

3. 5

3.9

1.8

5. 1

10- 82

5. 3

5. 2

5.6

5.5

4.7

5.4

4.4

7.4

9.8

11- 82

5. 5

5.5

5.8

5.7

5. 1

5.7

5.1

7.4

8.5

7. 2

12- 82

5. 5

5. 5

5. 8

5.7

5.2

5.7

5.2

6.9

7.5

6.4

5.6

1- 83

5. 3

5.3

5.6

5.5

5. 0

5.4

4.9

6.2

6.5

5. 4

4.5

3.5

2- 8 3

4. 8

4.8

4.9

4.8

4.3

4.6

4.1

5.0

5.0

3. 8

2.7

1. 3

-0.9

3-83

5. 2

5. 1

5.3

5.2

4.8

5. 1

4.7

5.6

5.7

4. 9

4.3

3.9

4.0

9.2

5.6

5.5

5.2

5. 5

5.1

6.0

6.1

5. 5

5.2

5. 1

5.6

9.0

8.8

7.1

6.7

6.7

6.9

7. 7

10 . 8

11.6

14.4

7.0

6.6

6.6

6.7

7.4

9. 6

9.7

10 . 1

7-83

5. 9

3- 8 2

6-U3

6.0

2.530. 2
2 » 535. 8
2.549. 0

2. 572.5
2.589.8
2,586.7
2 , 5 97 *4
2.617.8
2,633.1
2,645.0
2,652. 6
2,650.5
2, 670.1

4-83

5. 4

5. 4

5-83

5. 9

5.9

6.2

6.2

5.9

6.2

6.0

6.9

6-83

5. 9

5.9

6.2

6.1

5.9

6.2

6.0

6.8

7- 8 3

6. 0

6.0

6.2

6.2

6.0

6.3

6.1

6.9

7.0

6.7

6.7

6.8

7.4

9. 1

9.1

9.2

6.7

7.3

8- 83

5. 8

5.8

6.0

6.0

5.8

6.1

5.9

6.5

6.6

6.3

6.2

6.3

6.7

8. 1

7.8

7.6

5.4

5. 1

2*9

T=82T

2 2
“8

5^2

4-82

5-Ô2

6- 82

7-82

8- 82

9 - 8 2 10- 82 11- 82 12- 82

1- 83

2-83

3-83

4-8 3

5-8 3

6-63

7-83

2,689.0
2,719. 3
2,732. 6
2,748.7
2.755. 2 P

P - PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 2 0 , 1983

8

RETAI L SALES
RATIO

SCALE

BILLIONS

RATIO

OF

1975

DOLLARS

1976

S E A S ON A L L Y

1977

1978

BILLIONS

ADJ US TED

197 9

198 0

1981

1982

OF

SCALE

DOLLARS

1983

SOURCE: U .S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIO DS INDICATED.
LATEST DATA PLOTTED: JULY, AUGUST ADVANCE ESTIM ATE
PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS

R E T A I L SALES

RA T ES OF CHANGE
TERMINAL
MONTH

I N I T I A L MONTH
1-8 2

2-82

3-82

DOLLARS
4 -8 2

5-82

2-8 2

8 .3
9 .2

2.9

1 5 .5

1 3 .2

23.3

6-8 2

5 .8

1 .9

4 .2

6.9

3.9

6.2

4 .6

8-82

5.1

2 »3

3.8

9-8 2

5.9

3 .6

5.1

1 0 -8 2

6 .8

4 .9

11-82

8 .3

12-82

7 .5

1 0 - 0 2 11 -82

1—83

2 -8 3

3-83

7—-ftl

0 .9 -2 5 .6

7-8 2

9-62

11.0

5-82

8-82

-4 .6

4— 82

7-82

23.0

3-82

6-82

A A t iV49

fi7,7Dl

3 6 .9

9ûrA l^
AA^O l

-8 .6

12.4

2 .1

-7 .5

3.2

-5 .2

3 .9

-3 .0

6 .0

2.9

11.7

6.3

5 .6

0 .2

8.0

6 .6

13.0

6 .8

6.3

7 .9

3 .7

10.9

10.5

16.3

18.6

23.1

6 .0

7.3

6 .8

3.1

8.9

0 .2

11^9

11.9

10.7

-0 .4

8.2

6.3

-1 .3

-2 .1

A 9 t 4A9
A 9.n A 9

i N tM 7
14.3

90.90 5
9 ?.*9 ?
9 2 .4 5 9

1-83

6.6

5.3

6.3

5 .8

2.5

7.2

6 .4

8.9

2-8 3

4.9

3 .5

4 .3

3.7

0 .5

4.4

3 .3

4 .8

3 .4

0.9

-5 .6

-8 .1

-13 .8

3-8 3

6.6

5.5

6 .3

5 .9

3 .2

7.1

6 .4

8.2

7 .6

6 .3

2 .5

3 .5

6 .5

31 .4

92 12 9 5
91.16 4

4 —83

8.2

7 .2

8.1

7 .9

5 .6

9 .3

9 .0

10.9

1 0 .8

1 0 .2

7 .«

10.0

14.4

31 .7

5 -8 3

10.1

9.3

10.4

10.4

8 .4

1 2 .2

12.1

1 4 .3

14.6

1 4 .6

13.3

1 6 .2

2 1 .3

35 .9

38.2

44 .7

6 -8 3

10.1

9 .3

1 0 .3

10.3

8 .5

11.9

11.9

13.8

14.0

1 3 .9

1 2 .7

15 .1

1 8 .8

28.7

27.9

25 .8

9 .4

7-8 3

9 .3

8 .6

9.5

9.4

7.6

10.7

1 0 .6

12.2

1 2 .2

1 2 .0

10 .7

1 2 .3

1 4 .9

21 .7

19.4

15 .5

3.2

-2 .6

8 -8 3

7 .9

7 .1

7 .8

7 .6

5 .9

8.6

8.4

9 .6

9 .4

8 .9

7 .4

8 .5

10 .1

14.6

11.5

6 .9

-3 .3

-9 .1

-1 5 .2

1-8 2

2-82

3-82

4 -8 2

5 -8 2

6 -8 2

7-82

8-82

9 - 8 2 10 -8 2 1 1 -8 2 12 -8 2

1-8 3

2-8 3

3-83

4 -8 3

5-8 3

6 -8 3

7-83

32 *1

9 5.44 9
9 8.43 1
9 9.17 3
9 Ô .9 5 3 P
9 7.60 2 t

I N I T I A L MONTH
A* WELIHIWAfcV
E - ESTIMATED




.

.

.

.......

...

._

...............................................

PREPARED BY FEDERAL RESERVE BAM. OF S T . LOUIS
SEPTEMBER 13 . 1983

9

HOURLY COMPENSATION, BUSINESS SECTOR
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTE*'

_________________________________ I N I T I A L QUARTER___________________________________________ ______________ _______ 1977 « IQQ
3- 78

4-78

1- 79

2-79

3- 79

4-79

1 - 80

4-78

10.5
9.8

9.9

9.9

10 . 0

9.4

9.7

9.6

9.1

9.4

9.9

9.9

9.6

10.0

9.9

10.2

10. 3

10. 1

10.5

10.5

11. 5

4- 8 1

1- 82

2-82

3-8 2

4 -62

1- 03

11. 2

2-80

3- 81

8.6

1- 80

2- 81

10. 2

4-79

1- 81

8. 6

3- 7 9

4-80

11. 1

2-79

3-80

9.8

1- 79

2-80

11 . 9

.112»i
115. 2

1 2 0. 5
1 2 3. 0
1 2 6. 3
129. 4
132. 9

3-80

10.1

10. 2

10. 0

10 . 3

10. 3

10 . 9

10 . 7

9.6

4-80

10.1

10. 1

9.9

10.2

10. 2

10 . 6

10 . 4

9.6

9.7

1- 81

10.2

10. 2

10.1

10.3

10. 4

10. 7

10. 6

10. 2

10. 5

11. 3

136. 0
139. 7

2 - 81

9.9

9.9

9.8

10.0

9.9

10. 2

10 . 0

9.5

9.4

9.3

7.4

3- 81

9.9

9.9

9.8

9.9

9.9

10. 1

9.9

9.5

9.5

9.4

9.5

9.6

4 - 81

9.7

9.7

9.6

9.7

9. 6

9.8

9.6

9.2

9. 1

9.0

8.2

8 .6

7.6

142. 2
145. 5
148. 2

1- 82

9.7

9.7

9.6

9.7

9.6

9.7

9.6

9.2

9.2

9. 1

8.5

8 .9

8. 6

9.5

2- 82

9. 5

9.4

9.3

9.4

9.3

9.4

9.2

8.8

8.7

8. 6

8.1

8.2

7. 8

7.8

6.2

3- 82

9. 3

9.3

9.1

9.2

9.1

9.2

9.0

9.6

8.5

t.4

7.9

8.0

7.6

7.5

6.6

6.9

4- 82

9. 1

9.1

8.9

8.9

8 .8

8.9

8.7

8.3

8.2

8.0

7.6

7.6

7.2

7. 1

6.3

6.3

5.7

1- 83

8. 9

8.8

8.7

8.7

8.6

8.6

8.4

8.0

7.9

7.7

7.3

7.2

6.8

6.7

6.0

5.9

5.4

5. 1

2- 8 3

8.6

8.5

8.4

8.4

8.2

8.2

8.0

7.7

7.5

7.3

6.8

6.8

6.4

6.2

5.5

5.3

4.8

4.3

3.5

^5 7B
—

4-75

4-7$

1- 80

2-80

3-80

4-80

1- 81

2- 81

3- 81

4-81

1- 82

2-82

3-82

4-82

1- 8 3

1- 7 * ' 2 - 7 9

151. 6
153. 9
156. 5
15 8. 7
160. 7
_

162. 1

I N I T I A L QUARTER

OUTPUT PER HOUR OF ALL PERSONS, BUSINESS SECTOR
COMPOUNDED ,
ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

I N I T I A L QUARTER
3- 78

4-78

1- 79

2-79

4-78

-0.4
-1.1

-2.0

-1.3

-2 .0

-2.2

2-80

3-80

4- 8 0

1- 81

1977 » i nn
1
2-ei

3- 81

4-01

1- 82

2-82

3-82

4-82

1- 8 3

-2.4

3-79

1-80

-1.6

2-79

4-79

0. 8

1- 79

3-79

-2.0

10 0 . Ö
100^4
99
99.3

4-79

-1.2

-1.7

-1.7

-1.4

-0.3

1-80

-0.9

-1.2

-I. 1

-0.7

0.0

0.8

2-80

-1.2

-1 .5

-1.5

-1.3

-1.1

-1.2

99.1
99 . 3
-3.2

9«.5

3-80

-0.8

-1.1

-1.0

-0.7

-0.4

-0.3

-0.8

1.6

4-80

-0.7

-0.8

-0.7

-0.5

—0. 2

0.0

-0.3

1. 2

0.8

1- 81

-0.0

-0.1

0.0

0.4

0.8

1. 1

1.2

2.7

3.3

98 . 9
99.1
5. 8

1 00. 5

2 - 81

0. 2

0.1

0.3

0.6

1. 0

1.3

1.4

2.6

3.0

4. 1

2.4

3- 81

0. 6

0.5

0.8

1. 1

1. 5

1. 8

2.0

3.1

3.4

4.3

3.6

4.8

4-81

0. 2

0.1

0.3

0.6

0.8

1.1

1. 1

1.8

1.9

2. 1

0.9

0.2

-4.2

1 - 82

0.1

0.1

0.2

0.5

0.7

0.9

0.9

1.5

1. 5

1.6

0.6

0.0

-2.3

-0.4

2- 8 2

0. 0

-0.0

0.1

0.3

0.5

0.6

0.6

1. 1

1.0

1. 1

0.2

-0.4

-2.1

-U Q

-1.6

3- 8 2

0. 1

0. 1

0.2

0.4

0.6

0.7

0.7

1.2

1. 1

1. 1

0.4

0.0

-1.2

-0.1

0.0

1.6

4-82

0.3

0.3

• .4

0.6

0. 8

0.9

0.9

1.4

1. 3

1. 4

0.8

0.5

-0.3

0.7

1*1

2.4

3.2

1- 8 3

0. 4

0.4

0.5

0.7

0.9

I.©

1. 1

1.5

1. 4

1. 5

1.0

0.8

0. 1

1*0

1.4

2*4

2*9

2. 4

2- 8 3

0.7

•.7

e.8

1.0

1. 2

1. 4

1.4

1.9

1. 8

1. 9

1.5

1.4

0.9

1. 1

2*2

3.2

3.7

4.0

5.6

3-7*1

4-78

1- 7 4

2-79

3- 79

4-79

1-80

2-80

3-80

4-90

1- 81

2- 81

3- 91

4-81

1- 82

2-82

3-82

4-62

1 - 93




101. 1
102. 3
101. 2
101. 1
100. 7
101- 1
101. 9
102. 5
103. 9

I N I T I A L QUARTER

10

PREPARED BY FEDERAL RESERVE BANK Of S T . LOUIS
AUGUST 2 6 . 1983

P R OD UC T I V I T Y ,

COMPENSATION,

RATIO SCALE
I97 7 - IO O

1975

SEASONALLY

1976

1977

1978

AND LABOR COSTS
RATIO SCALE
1977-100

ADJUSTED

1979

1980

1981
SO W CEt

PEH CEHT A C E * A *E
LATEST

AHMUAL H A T E S OF CHAKGE FOR P E A IO O S

DATA P LO T T E D .

1982

¥. S .

1983

U fA H T M C M T

*f

LA B Off

OF S T .

L O U IS

I K O I CA T ED.

2ND fW AHTER
P R EP A R ED I Y

FED ER A L R E S E R V E

IA M «

UNI T LABOR COSTS» BUSINESS SECTOR
_______________________COMPOUNDED ANNUAL RATES OF CHANGE_____________________
terminal
quarter

I N I T I A L QUARTER
3- 78

4- 78

1- 79

2-79

3-79

4-79

1- 8 0

2-80

3-80

4- 80

1-81

1977 * 1ÛÛ
2-81

3- 81

4-81

1- 02

2- 82

3-82

4-82

1- 8 3

4- 78

9. 5

1- 79

11.1

12. 8

2-79

11 .0

11 .8

10.9

3- 79

11. 4

12. 0

11. 6

12.4

4-79

11.0

11 .4

10 . 9

1 1.0

9.6

1-80

11.0

11. 3

10.9

10.9

10.1

10. 7

2-80

11. 6

11.9

11. 7

12 . 0

11. 8

13 . 0

15. 3

3-80

11. 1

11. 3

11. 1

11 . 1

10. 8

11. 2

11 . 5

7.8

0
C
D
1
4

10. 8

11 .0

10.7

10.7

10. 4

10. 6

10. 5

8.2

8.6

1- 81

10. 3

10.3

10. 0

9.9

9. 5

9.5

9.2

7.2

7.0

5. 4

2- 8 1

9.8

9.8

9.5

9.3

8 .8

8.7

8.3

6.7

6.3

5.2

5.0

3-81

9. 3

9.3

9.0

8.8

8. 3

8. 1

7.7

6.3

5.9

5.0

4.8

4.6

4-81

9. 5

9.5

9.2

9. 1

8.7

8.6

8.3

7.2

7.1

6. 7

7.2

8.3

12. 0

1 - 82

9.6

9.6

9.3

9.2

8.8

8. 8

8.5

7.6

7.5

7. 3

7.8

8.8

11. 0

9.9

2- 8 2

9. 5

9.5

9.2

9. 1

8.8

8.7

8.5

7.7

7.6

7. 5

7.9

8.7

10.1

9.1

8. 2

3-82

9. 2

9,2

8.9

8.7

8.4

8. 3

8. 1

7.3

7.3

7.1

7.4

7.9

8.7

7.6

6.5

4. 8

4-82

8. 8

8.7

8.4

8.3

8.0

7. 8

7.4

4.8

6.7

6. 5

6.7

6.9

7. 4

4. 3

5.1

3.6

2.3

1-83

8. 5

8.4

8. 1

7.9

7.6

7.5

7.2

6.5

6.4

6. 1

6.2

6.4

6. 7

5.7

*♦7

3.?

2*9

3*4

2- 83

7.*

7. 8

7.5

7.3

7.0

6. 8

4.5

5.#

5.4

5.3

5.3

5.3

5. 4

4.4

3.3

2.1

U2

Q*6

-2.©

3-7S

4^78

1- 79

2-79

3- 7 9

4-79

1- 8 0

2—fO

3- 80

4- 80

1- 81

2- 81

3-81

4 —81

1—82

2- 82

3- 8 2

4-82

1- 83

1 11 . 4




1 17- 8

124- 1
127. 3

13 4. 4
137. 2
13 9. 0
14 0 . 7
14 2. 3
146. 4
149.9
15 2. 9
15 4. 7
15 5. 6
156.9
15 6 . 1

I N I T I A L QUARTER

11

PREPARED BY FEDERAL RESERVE BA>* OF S T , LOUIS
AUGUST 26» 1983

GROSS NATIONAL PRODUCT I N CURRENT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE_______
TERMI NAL
OUA k t S r

o l L L l Q N S OF
DULLARD
ANNUAL KAi Li.

I N I T I A L QUARTER
3- 78

4-78

i —79

2- 79

3-79

4-79

4-78
1-79

12.4
10. 8

8.6

11. 5

10. 2

10. 5

10.8

9.7

9.7

10.8

10. 9

10. 1

10. 2

11 . 1

9.9

0
0
0
1
<
N

8.5

8.3

8.4

6.8

6. 2

2- 81

3- 81

4-81

1- 82

2- 6 2

3-8 2

4-92

1- 83

11. 7

9. 4

1- 81

8.1

1-80

4-80

13.6

4-79

3- 80

7.5

3- 79

2-80

9.8

2-79

1- 80

15.2

2 »281.6
c ,335.5
2 »377*9
¿•4b4. 8
¿»502.9
¿»572.9
0.9

2,578.8

9. 5

8.7

8.5

8.7

7.5

7.3

5. 2

9.7

0
0
0
1
•4

10.1

9.5

9.5

9.8

9.1

9.3

8.5

12 . 6

1 5.5

1- 81

11.1

10.7

10. 8

11.3

10. 9

11. 5

11. 4

15. 2

18. 0

20. 5

2-81

10. 7

10 . 3

10 . 3

10.7

10 . 3

10. 6

10. 4

12 . 9

14. 0

13. 3

6.6

3- 8 1

10. 9

10. 5

10 . 6

11.0

10.6

11. 0

10. 9

13 . 0

13. 9

13. 3

9.9

13. 3

4-81

10. 3

9.9

10.0

10 . 2

9.8

10. 1

9.8

11 . 4

11. 7

10. 8

7.8

8.4

3.7

1-82

9. 5

9.0

9.0

9.1

8.7

8.7

8.4

9.5

9. 4

8. 3

5.4

5. 0

l.l

-1.4

2-82

9. 3

8.9

8.8

8 .9

8.5

8. 5

8. 2

9.1

9. 0

8.0

5.6

5.4

2. 9

2. 5

6.6

3-82

8. 8

8 .4

8.3

8.4

8.0

8. 0

7.6

8.4

8. 2

7. 2

5. 1

4.9

2.9

2.6

4.6

4-82

8. 5

8.0

7.9

8.0

7.5

7.5

7.1

7.8

7. 6

6.6

4.8

4.5

2. 8

2.6

3.9

2.6

2.5

1-83

8. 4

8. 1

7.9

8. 0

7.6

7.6

7.2

7.8

7. 6

6.8

5.2

5.0

3.7

3.7

5.0

4.4

5.3

8. 2

2-83

8. 7

8.3

8.3

8.3

8.0

8. 0

7.7

8.3

8. 1

7.4

6. 1

6.0

5. 0

5.2

6.6

6.6

7.9

10 . 7

13. 3

3 - 7 ft

4-78~

r-79

2“ 79

3- 7 9

4-79

1- 80

2- 8 0

3- 80

4-80

1-81

2- 81

3-81

4-81

1- 92

2—> 2
3

3- 82

4-3 2

1- 83

3-80
1

2 » 6 39. 1
2,736.0
2 ,866.6
2,912. 5
3,004.9
3,032.2
3,021.4
3 , *>70 .2
2.7

3, 090 .7
3,109.6
3, 171.5
3,272.0

l n l t l A L QUARTER

GROSS NATIONAL PRODUCT IN 1972 OOLLARS
COMPOUNDED ANNUAL KATES OF CHANGE________________________________________________________
bilLioNi,

Of
t S

t

<N

o

00

TERMI NAL__________________________________________________________________ I N I T I A L QUARTER_________________________________________________________________ UL l U K S
' OtfAfcrpr
ANNUAL
ft A T
3- 78
4-78
1- 79
2-79
3-79
4-79
1- 80
3- 80
4—80
1-81
2- 81
3- 81
2-92
3-8Z
4-32
1- 53
1- 82
4-81
4-78

5.5

1-79

3. 3

1. 1

2-79

1. 9

0. 1

-0.9

3-79

2. 6

1. 7

1. 9

4.8

4-79

2. 2

1. 4

1. 5

2.8

0.7

1- 80

2. 2

1.5

1. 6

2.5

1.3

2-80

0. 5

-0.3

-0.6

-0.5

-2.3

-3.7

-9.0

3-80

0. 5

-0.2

-0.4

-0.3

-1.5

-2.2

-4.3

-0.5

-0.8

-1.6

2.3

3. 8

4.5

6. 4

9.0

i , 468.4
1. 472. 6
1. 469.2
L »4 66 » 6
1.489.3
1. 9

1, 496.4
1,461.4
0.8

I

1.464.2

0
CD
1
*

0.9

0.3

0.2

0.4

1-81

1. 7

1. 3

1.3

1.6

l.l

l.l

0.9

2- 8 1

1. 6

1. 2

1. 2

1. 5

1.0

1. 0

0.9

3.5

4. A

4.7

0.6

3-81

1. 7

1. 4

1. 4

1.7

1. 3

1. 4

1 .3

3.5

4. 2

4.3

2.1

3.6

4-81

1.2

0.9

0.8

1. 0

0.6

0.6

0.4

2.1

2. 3

2.0

-0.3

-0.7

-4.9

1.477.9
1,510.1
1,512.5
1,525.8
1, 5 0 6 . 9

1-8?

0. 7

0.4

0.3

0.4

-0.0

-0.1

-0.4

1. 0

1. 0

0.4

-1.6

-2.3

-5.2

-5.5

2-82

0.7

0.4

0.3

0.5

0.1

0.0

-0.2

1. 0

1. 0

0.5

-I. 1

-1.5

-3.2

-2.3

0.9

3-82

0. 6

0. 3

0.3

0.3

-0.0

-0. 1

-0.3

0.7

0. 7

0.3

-1. 1

-1.4

-2.6

-1.9

-0.0

-1.0

4-82

0. 5

0.2

0.1

0.2

-0.1

-0.2

-0.4

0.5

0. 5

0. 1

-1.1

-1.4

-2.4

-1.7

-0.5

-1.2

-1.3

1-63

0. 6

0.3

0.3

0.4

0. 1

0.0

-0. 1

0.7

0. 7

0.4

-0.7

-0.8

-1.6

-0.9

0.3

0.1

0.6

2.0

2- 83

l.l

0.8

0.8

0.9

0.7

0.7

0.6

1.4

1.5

1. 3

0.4

0.4

—0 . 0

0.8

2. 1

2.4

3.6

6. 1

9.7

3- 78

4- 78

1-79

2-79

3-79

4-79

1- 80

2-80

3- 80

4- 80

1-8 1

2- 81

3- 81

4- 8 1

1- 82

2-82

3- 8 2

4-82

1- 83




1, 48 5 tè...

1,485.7
A,48\>*7
¿,490.1
1» 5 2 . 1

I N I T I A L QUARTER"

RRT p AREO BT T EDE RAÍ T ^ RES^KVt bAN*T~oF S T - ^ L U U i b
SEPTEMBER 21, 1983

12

...

1 .489.3

_
_

GROSS N AT I ONAL
RATI O

SCALE

1 97 5

QUARTERLY

197 6

1977

1978

TOTALS

PRODUCT

AT ANNUAL

1979

1980
SOURCE:

PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR P E R IO D S
LATEST DATA PLOTTED:




2ND QUARTER

RATI O

RATES

1981
U.S.

198 2

1 98 3

DEPARTMENT OF COMMERCE

IN D IC A T E D .

PREPARED BY FEDERAL RESERV E BANK OF ST.

13

SCALE

LO UIS

GENERAL PRICE
RATIO

I NDEX*
RATIO

SCALE

1972-100
225

SCALE

1972-100
225
+■>, i f

.

215

.

215

^ f l 4 . 55

205
195
185

H 0 .2 Z /S

175

205

" ?
s
y

195

/

165

185
I 75

*8. ?

A
r

I 55

165
155

1 45

145
+s. n >

135

135

I 25

125
?

1 15

105

*

1 15
*

t
1975

1976

*A S USED IN NATIONAL

1977

1978

t

1979

1980

INCOME ACCOUNTS

1981

S
t
1982

105

1983

SOURCE: U .S. DEPARTMENT OF COMMERCE

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS
LATEST DATA PLOTTED:

$
t

*

t

♦

INDICATED.

2ND QUARTER
PREPARED BY FEDERAL RESERVE BAHK OF ST. LO U IS

I M P L I C I T PRICE OfcFLAT OK FÜP GROSS NATI ONAL PRODUCT
terminal
quarter

4-70

1- 79

2-79

3-79

4-79

1- 80

2- 8 0

4-78

8.8
8.7

8.5

8. 6

8.4

8.4

0.4

8.2

8.0

7.8

8. 6

8.4

8.4

8.4

8.4

8.9

8.9

8.9

9.0

9.3

10. 3

8. 9

8.9

8.9

9.0

9.2

9.8

9.9

2- 5 2

3- 32

4-^2

1- 93

10 . 9

3-80

1- 82

9.6

2-80

4- 8 1

7.3

1-80

3- 81

8.3

4-79

2- 81

8.5

3- 79

1-91

8.6

2-79

4-80

9. 1

1-79

3- 8 0

O
O

I N I T I A L QUARTER
3- 78

8.8

15 5. 36
158. 60
161. 65
ioS.12
166.Q>
1 7 1 . V4
176. 46
16L. 24

4-80

9. 2

9.2

9. 2

9.4

9.6

10. 2

10.4

10. 1

11. 3

1- 81

9.3

9.3

9.4

9.5

9.7

10. 2

10. 4

10. 2

10. 9

10.5

9.2

9.5

9.5

9.1

9.2

8. 2

165. 13
169. 83

2-81

9.0

9.0

9.0

9.1

3-81

9.0

9.0

9.0

9.1

9.2

9.5

9.5

9.2

9.3

8. 6

7.6

9.4

4- 81

9.0

9.0

9.0

9. 1

9.2

9.4

9.4

9. 1

9.2

8. 7

8.1

9.2

9.0

1- 8 2

8.7

8.6

8.6

8.7

8.7

8.8

8.8

8.4

8.4

7. 8

7. 1

7.5

6.6

2-82

8. 5

8.4

8.4

8 .4

8.4

8.5

8.4

8.1

8.0

7.4

6.8

7. 1

6. 3

5. 0

5.6

3-82

8. 2

8.1

8.1

8.0

8.0

8. 1

7.9

7.6

7.4

6.9

6. 3

6.4

5. 6

4.5

4.6

3.7

4-82

7.9

7.8

7.8

7.7

7.7

1,1

7.5

7.2

7. 0

6. 5

5.9

6.0

5. 3

4.4

4.4-

3.8

3.8

1-83

7. 8

7.7

7.6

7.6

7. 5

7.5

7.4

7. 1

6.9

6. 4

5.9

5.9

5. 3

4.6

4.7

4. 3

4.7

% 3

2-83

7. 5

7.4

7.4

7.3

7.2

7. 2

7.0

6.7

6. 5

6. 1

5.6

5.6

5. 0

4.4

4.4

4. 1

4.2

4.4

3.3

3 -7 â

4-78

1-74

2-79

3-79

4-Ï9

1- 80

2-80

3- 80

4-80

1-81

2- 81

3- 81

4-81

1- 82

2-82

3- 82

4-3 2

1- 83




5.9

192. 56
196. 94
201. 22
4.3

203. 30
¿Q6.1ï>
208. 03
2 1 0. 00
212. 83
214. 55

I N I T I A L QUARTER

PR6PARE0 8 Y FEDERAL R E S b K V t
SEPTEMBER 2 1 » 1983

14

BANK ÜI- S T .

LCUlS

PERSONAL CONSUMPTION EXPENDITURES IN CURRENT DOLLARS
____________ COMPOUNDED ANNUAL RATES Of CHANGE______________
TERMINAL
QUARTER

B I L L IO N S OF
DOLLARS
ANNUAL RATES

Q
I N I T I A L < UARTER
3-78

4-78
1- 7 9

11.9

1- 79

4-78

2- 7 9

3- 7 9

4-79

1- 8 0

2-80

3- 8 0

4-80

1-81

2- 81

3- 81

4-81

1- 82

2- 82

3-82

4 - 8 2 _ 1- 83

13*4

1*411. 3
10. 3

1*446. 3

2-79

10 . 7

9.4

8. 5

3-79

11. 8

11. 2

11. 7

14, 9

4-79

12. 1

11. 8

12. 3

14 . 3

13. 7

1- 80

12. 0

11 . 7

12. 0

13. 3

12. 4

11. 2

2- 8 0

10. 4

9.9

9.8

10. 2

8.6

6.2

3-80

11 . 0

10. 6

10. 7

11. 1

10. 1

9.0

7.9

14. 8

4-80

11. 4

11.1

11. 2

11. 7

11. 0

10. 4

10. 1

14. 7

14. 6

11. 5

11. 6

12. 1

11.6

11. 2

11. 2

14 . 7

14. 7

1,476.0
1,528. 3
1,578.0
1, 620.5
1.5

1,626.4
1,683.4
1,741. 9

1- 81

11. 7

2- 8 1

11 .3

11.1

11. 2

11. 5

11. 0

10. 6

10 . 5

12. 9

12. 2

11. 1

7.5

3- 81

11. 3

11. 1

11. 2

11. 5

11. 1

10. 7

10 . 6

12 . 6

12. 0

11. 2

9.5

11 . 4

4- 8 1

10. 7

10. 5

10. 5

10. 7

10. 3

9.8

9.7

11. 1

10. 4

9.3

7.6

7.6

1- 82

10. 5

10. 3

10. 3

10 . 4

10. 0

9.6

9.4

10. 6

9.9

8.9

7.5

7.6

5. 7

7.5

2-82

10. 3

10. 0

10. 0

10. 2

9.7

9.3

9.1

10. 1

9.5

8.7

7.5

7.5

6.2

7.3

7.2

3- 8 2

10. 1

9.9

9.8

9.9

9.5

9.2

9.0

9.8

9.2

8.5

7. 5

7.5

6.5

7.4

7. 3

7.5

4-82

10 . 0

9.7

9.7

9.8

9.4

9. 1

8. 9

9.6

9. 1

8.4

7. 5

7.5

6.8

7.5

7.5

7.7

7.8

1,802.8

14. 7

1,835.8
1,886.1
1,904.1

3.9

1,938.9
1,972.8
2,008.8
2,046.9

1- 83

9.7

9.5

9.4

9.5

9. 1

8. 8

8.6

9.2

8.7

8.0

7. 2

7.2

6.5

7.0

6.9

6.8

6.5

5.2

2-83

10. 0

9.8

9*7

9.8

9. 5

9.2

9.0

9.7

9.2

8. 7

8. 1

8. 1

7.7

8.3

8. 5

8.8

9.3

10. 0

15. 1

3- 7 8

4-75

1- 79

2- 79

3- 7 9

4- 79

1- 80 . 2- 8 0

3- 8 0

4-80

1-81

2- 81

3- 81

4- 81

1- 62

2-82

3-82

4-82

1- 83

2,073.0
2,147.0

I N I T I A L QUARTER

PERSONAL CONSUMPTION EXPENDITURES IN 1972 DOLLARS
___________COMPOUNDED ANNUAL RATES OF CHANGE___________
TERMINAL
QUARTER

b l L L l u Ni . (J*
ÜULLAK^
ANNUAL HATtS

INITIAL <
jUARTER
4- 78

1- 7 9

2-79

3- 79

4-79

1- 8 0

2-80

3-80

4-80

1-8 1

2- 81

1-79

2. 8
1. 6

0.1

2. 5

1.7

2. 1

2. 6

2.1

2. 5

4.2

2. 2

1. 7

1. 9

2.7

1. 6

0.7

0.0

-0.1

0.0

-1.6

-4.0

1.1

0.6

0.6

0. 9

-0.2

-1.3

-1.9

4.3

4-80

1.5

I.1

1. 2

1. 5

0. 8

0. 1

0.2

4.5

4.6

1- 81

2. 0

1.6

1. 7

2.1

1. 6

1. 3

1. 6

5.0

5. 3

5. 9

2-81

1. 8

1. 5

1 .6

1. 9

1. 5

1.1

1. 4

3.8

3.6

3. 2

0. 5

3-81

2. 0

1. 7

1. 8

2.1

1.7

1. 5

1.7

3.7

3.6

3. 3

2.0

1- 63

-7.7

3-80

4-32

-0.1

2-80

3- 82

3.3

1- 8 0

2-82

5.1

4-79

1- 82

-0.7

3-79

4- 8 1

0.9

2-79

3- 81

4.7

3.5

i

0
0

3- 78

919*2
92 1. 2
919. 5
93 0. 9
93d.6
938.3
919.6
92 7 . 4
940.C
9t>3 .6
9 54 . 7
96 2 . 9

4-81

1. 6

1. 3

1. 3

1.6

1. 2

0.9

1. 1

2.6

2. 3

1. 7

0.3

0.2

-3.0

1-82

1. 6

1.4

1.4

1. 6

1. 3

1. 1

1. 2

2.6

2.3

1. 8

0.8

0.9

-0.3

2. 4

2-82

1. 7

1.5

1.6

1 .8

1. 5

1. 3

1.4

2.6

2. 4

2. 0

1.3

1. 5

0. 8

2.8

3. 1

3-82

1. 7

1 .5

1. 5

1.7

1.4

1. 2

1.4

2.4

2. 2

1. 9

1. 2

1.4

0. 8

2. 1

2.0

0.9

4-82

1.8

1. 6

1.7

1. 8

1.6

1. 4

1.6

2.6

2.4

2. 1

1. 5

1.7

1. 4

2. 5

2.5

2.2

3.6

1-83

1. 8

1.7

1.7

1. 9

1. 7

1. 5

1.7

2.6

2.4

2. 2

1.7

1. 9

1. 6

2.6

2.6

2.5

3.3

2.9

2.2

2. 1

2.3

3.2

3. 1

2.9

2.6

2.9

2. 8

3.8

4. 1

4.3

5.5

6.4

10 . 0

3-79

4-79

1-80

2-80

3 - 8 0 “ 4-fftf

1-81

2 -8 1

3-81

4- 81

2- 82

3-82

4-8 2

1- 8 3

2-83

2. 3

2.1

2.2

2.4

3-7B

4— 78

1- 7 9

2-79




initial

935. 7
96 1. 4

1- 82

9 6 3. 8
9 7 1. 0
979.6
98 6 . 7
1,010.6

ouarter

PREPARED BY FEDERAL RES ERVE
SEPTEMBER 2 1 » 1983

15

BANK OF

ST.

L OU I S

GROSS PRIVATE DOMESTIC INVcS THSNT IN CURRENT DOLLARS
____________COMPOUNDED ANNUAL RATES Of CHANGE______________
o lL L lO N S

U t-

______________________________________________________________ L « U L * L 9 U * R T J R _____________________________________________________________ uivj-LAh^ _ _
ANNUAL

4-78

10. 7
11. 5

9.6

.

13.3

4G9. 1
4 1S. 1
42B. 3

3-79

9. 5

7.5

8.3

3.4

4-79

<♦.5

1.9

0.5

-5.3

-13.3

1-80

4.6

2.5

1. 7

- 2 .0

-4.5

2-80

-0.0

-2.4

-4.0

-7.9

-11.4 -10.5

3-80

-1.9

-4.2

-5.8

-9.2

-12.1

4-80

1.9

0.3

-0.5

-2.6

-3.8

43 1 . <
y
41 0. 8
5. 1

422.G
-23.8

-11.8 -19.1
-1.2

394. 3
-14.2

379.

-3.2

9.0

38. 5

41 1. 7

1- 81

5. 9

4.9

4.8

3.6

3.6

7.4

7.9

21 . 2

44. 1

49.8

2- 81

6.7

5.9

5.9

5.0

5.2

8.7

9.4

19 . 7

33. 8

31. 5

15. 4

3- 81

7. 9

7.2

7.4

6.7

7.1

10. 4

11. 3

20. 1

30. 6

28. 1

18. 5

4-81

6.0

5.2

5.1

4.3

4.4

6.9

7. 1

13.4

19. 9

15. 7

6.1

0. 1

4. 1

7. 5

2. 2

-7.2

-13.6

3. 3

-4. 1

-8.4

-16.6

-17.5

9.4

1. 9

-4.5

-8.0

- 14. 2 - 1 4 . 0

1. 1

- 4. 3 -10.2

-13.9

-19.6

-20 .7 -14.1

45 5 . 5
472. 1
21 . 6

495. 8

1.7 -14.9

476. 2

1-82

2. 0

1.0

0.6

-0.5

-0.8

0.6

2- 82

2.5

1.6

1.3

0.3

0.1

1. 5

1. 1

4.7

7. 8

3-8 2

1. 9

1.0

0.7

-0.2

-0.5

0.7

0.3

3.4

5. 9

4-82

-1.0

-2.0

-2.5

-3.6

-4.1

-3.3

-4.0

-1.7

-0.2

1-83

0. 5

-0.3

-0.7

-1.5

-1.9

-0.9

-1.4

0.9

2. 5

-0.8

-5.8

-8.5

-12.7

-12.3

-4.4

2-8 3

2.8

2.1

1.9

1.2

1. 1

2. 2

2.0

4.5

6.4

3.6

-0.5

-2.4

-5.4

-3.7

5. 1

3-79

4-?9

1- 86

2 -6 0 ' 3 - 8 0

4-80

1-81

2- 81

3- 81

4-81

1- 82

1- T O

3- 78

INlflAL

4-78

3.0

1- 7 9

2-79

4 3 2. 5
-6. 5

42i>.3

- 2 3 . 9 —3q . 0
-8.7
4. 1
2-82

377. 4
404. 1

-9,7

31.4

7.8

42. 2

53.9

3-82

4- 82

1- 8 3

450. 1

quarter

GROSS PRIVATE DOMESTIC INVESTMENT I N 1972 OOLLARS
___________COMPOUNDED ANNUAL RATES OF CHANGE____________________________________________________ ____________
MI LLI ONS Of
_______________
I N I T I A L QUARTER_________________________________________________________________PU l LAKS
ANNUAL RATtS
3-79 4-79
3- 8 0
4-80
1- 81
2-80
3- 81
2- 81
4-81
1- 82
2-82
4 —82
L-tt3

7.2

1-79

4-78

42 2. 9

1
o

_________
3-78

-27.2 -37.8

CD

TERMI NAL
------ QUARTER

242, 2
-1.2

24Wi ,

2-79

1.9

-0.7

-0.3

3-79

-0.3

-2.7

-3.5

-6.6

4-79

-4.3

-7.0

-8.8

-12.8

-18.6

-3.9

-6.0

-7.1

-9.3

-10.6

-16.1

24U3
2 3J7.2

!

¿ 23 , 3

0
CD
1

-1.8

2-80

-8.8

-11.3

-13.2

3-80

-8.9

-11.0

-12.6 -14.8

4-80

-5.4

-6.9

-7.7

-8.8

1- 8 1

-2.6

-3.7

-4.0

-4.5

2-81

-1.3

-2.1

-2.2

-2.5

-1.9

1. 2

3-81

-0.2

-0.9

-0.9

-0.9

-0.2

2.8

-19.1

¿ 24 . 3

-19.3 -33.7

202. 4

-16.8 -16.2

-22.5

-9.5

-9.3

-6.8

-8.4

7.7

28. 1

-4.1

-0.9

-0.7

13. 6

27. 3

26.5

1. 9

13. 4

22 . 2

I 9.4

12. 8

3.5

13. 2

19. 7

17. 0

12. 6

5.6

1V7. 4
. .

229. 5
12. 4

23 6. 3

-2.2

-2.9

-3.1

-3.3

-3.0

-0.8

-0.7

6.3

9.7

-0.6

-6.7

-22.5

1-82

-4.9

-5 .8

-6.1

-6 . 6

-6.7

-5.2

—5 . 6

-0.8

0.8

- 3 . 9 -10.3

-16.9

-28.6

-34.2

2-82

-4.4

-5.1

-5.4

-5.8

-5.8

-4.4

-A .7

-0.2

1. 2

-2.7

-7.7

-12.2

-19.2

-17.5

3.4

3-82

-4.4

-5.2

-5.5

-5.8

-5.8

-4.5

-4.8

-0.9

0. 3

-3.2

-7 .4 -11.0

-16.0 - 1 3 . S

-1.3

1 %
1 ?
; ^

-6.6

-7.4

-7.8

-8.3

-8.4

-7.5

-8.0

-4.9

-4.4

-7 .8 -11 .9 -15.5

1- 83

-4.9

-5.6

-5.8

-6.2

—6 . 1

-5.1

-5.4

-2.3

-1.5

-4.4

-7.6

2-83

-2.6

-3. 1

-3.2

-3.4

-3.2

-2.0

-2.0

1. 3

2. 3

0. 0

-2.5

-4.3

1- 79“

2-79

3-7^

4-T9

1- 80

2- 8 0

3- 00

4- 8 0

1-8 1

2- 81

"3-76 ~ 4 - ? F




<AV. O.
22 2. 7

»

CD

K A U 1

.

6.0

2-79

■ -1 QJ
■

15. 5

1- 79

.

-

f
r

221. 7
199. 7
20 1. 4
19 8. 4

-5.8

1 78. 4

- 1 4 . 0 - 2 1 . 5 - 3 4 . fc

- 20.1

-19.5

-10.2 -13.5

-11.6

-4.9

-7.5

-8.3

-6.5

-3.5

4.2

4.4

8.0

38.8

4V .a

3- 81

4- 81

1- 92

2-82

3- 82

4-8 2

1- 83

2b. 7
¿10.2

I N I T I A L QUARtER

PREWARtD BY F h D ^ R^ l R t b~ \Vt
SEPTEMbfrP 21, 1983

16

c»A\A Ut

S 1 . LLUi v

_

GOVERNMENT PURCHASES OF GOOOS AND SERVICES IN CURRENT DOLLARS
_________________ COMPOUNDED ANNUAL RATES OF CHANGE____________________
biLLlONi
TERMINAL
QUARTER

I N I T I A L (QUARTER

0F

DOLLARS

ANNUAL RAI LS
3— 7 8

4-78

1-79

2-79

3-79

4-79

1-80

2-80

3-80

4-80

1-81

2-81

3-61

4-81

1-82

2-8 2

3-82

4 —8 2
_

1- 83

00

fI
*

11.2

451.1

1-79

8.2

5.2

2-79

7.7

6.0

6.8

3-79

8.9

8.2

9.7

12.6

4S6.9
464 - 5
470.5

10.3

12.1

14.8

16.9

11.6

11.6

13.3

15.5

17.0

17.1

2-80

12.0

12.1

13.5

15.3

16.2

15.8

14.6

m

1

10.8

10.7

11.7

12.7

12.7

11.3

8.5

4-00

11.3

11.3

12.2

13.1

13.2

12.3

10.8

9.0

15.6

1-81

11.5

11.5

12.3

13.1

13.2

12.5

11.3

10.3

14.3

13.0

2-81

10.9

10.8

11.5

12.1

12.0

11.2

10.1

9.0

11.1

9.0

5.1

3-81

11.0

10.9

11.5

12.1

12.0

11.3

10.4

9.6

11.4

10.0

8.5

4-81

11.3

11.4

11.9

12.4

12.4

11.9

11.2

10.6

12.2

11.4

10.9

13.9

15.9

1-82

10.8

10.8

11.3

11.7

11.6

11.0

10.3

9.7

10.9

10.0

9.3

10.7

10.1

4.6

2-82

10.2

10.1

10.5

10.8

10.6

10.0

9.2

8.6

9.5

a .5

7.6

8 .2

7.0

2.8

3-82

10.5

10.5

10.9

11.2

11.1

10.6

9.9

9.4

10. 3

9. 5

9.0

9.8

9. 2

7. 1

8.4

16. 2

<l
\
0
0

10.8

10.8

11.2

11. 5

11. 4

11.0

10. 4

10.0

10. 8

10. 3

9.9

10. 7

10. 4

9. 1

10. 7

15 . 8

15. 5

1-83

10.1

10 . 0

10. 3

10.6

10. 4

10. 0

9.4

8. <?

9.6

8. 9

8.4

8 .9

8. 4

7.0

7.6

9. 8

6.7

-1.3

2-83

9.7

9.7

9.0

10. 1

10. 0

9.5

8.9

8.5

9.0

8.A

7.9

8.2

7.7

6.4

6.3

8. 2

5.7

It I

3.6

3-78

4-7é

L- 79

¿ — 79

3- 79

4-79

1-80

2-80

3- 8 0

4- 80

1-81

2- 81

3-81

4- 8 1

1-82

3- 82

4-82

1-83

1

V
*

10.5

1-60

0
«

4-79

497.6
517.6
535.5
2,7

539.1
55V.Q
57o.3

583- 5
600 » 3

12.0

622.8
629.8

l.l

6 31.6

2 - 62

655.7

67V.7
07 7 . 4
683.4

I N I T I A L QUARTER

GOVERNMENT PURCHASES OF GOODS AND SERVICES IN 1972 DOLLARS
_____________ COMPOUNDED ANNUAL RATES OF CHANGE____________________
TERMINAL
QUARTER

O l L L i UNS UF
OuL LAR*>

I N I T I A L < UARTER
Q
3- 78

4-78

1- 79

2-79

3-79

4-79

actual

1- 80

4-78

-0.3
0.0

-0.6

0.7

0.5

1. 7

1. 3

1.3

2.3

3.2

1. 7

1. 8

2.7

3.5

3.8

2- 80

2. 0

2.2

3.0

3.6

3.8

4.0

1. 3

1. 8

2. 1

1. 9

1. 3

0.0

1- 82

2-82

3-8 2

4-92

rates

1- 6 3

4.0

1.3

4-81

4.0

3-80

3- 81

3.5

1-80

2- 81

2.9

4-79

1-81

0.6

3- 79

4- 80

-1.9

2-79

3- 8 0

1. 3

1-79

2- 8 0

¿77.7
¿76.4
¿ 76. 8
278. 8
<-t>L.2
28 4. 0
28 6. 8
-3.8

28 4. 0

1. 4

l.l

0.5

-0.7

-3.0

-2.1

1. 7

1.8

1.6

1. 2

0.6

—0 . 6

1. 1

4. 5

2-81

1. 0

0.9

1. 2

1.3

1. 1

0.7

0.0

-0.9

0.0

l.l

-2.1

3-81

1. 2

1. 2

1.5

1. 6

1. 4

1. 1

0.7

0.0

1. 0

2. 0

0.8

3. 9

4-81

1. 4

1. 4

1. 7

1. 8

1. 7

1. 5

1. 1

0.6

1. 6

2. 5

1. 9

3.9

4.0

1- 8 2

1. 3

1 .3

1. 5

1.6

1.5

1.3

0.9

0.5

1. 3

1. 9

1. 3

2.5

1. 8

0
1

1.3

1. 3

O
D

0.9

1. 3

*

0.9

1- 81

28 2. 5
285.6
<
■

284. 1
2 8 6. 8
¿89.6

-0. 3

289.4

2- 82

0.9

0.8

1. 0

1. 1

0.9

0.7

0.3

-0.2

0.4

0. 8

0.1

0.6

-0.5

-2.6

-4.9

3- 82

1. 4

1. 4

1. 6

1.7

1.6

1.4

1.1

0.8

1. 4

1.9

1. 5

2. 3

1. 9

1.2

1. 9

9.3

4-82

1. 9

1.9

2.2

2.3

2.2

2. 1

2.0

1. 8

2.4

3. 0

2.8

3. 6

3. 6

3.5

4.8

10. 0

1- 83

1. 3

1. 3

1.5

1. 5

1. 4

1.3

1. 0

0.8

1 .2

1.6

1. 3

1 .8

1. 4

0.9

1 .2

3.3

0.5

-8 . b

2-83

1. 1

1. 1

1. 3

1. 4

1. 3

1. 1

0.9

0.6

1. 0

1.3

1. 0

1. 4

1.1

0.6

0.7

2 .2

-0.0

-5.0

. l.l

3-78

4 -7 a

1- 79

2-79

3-79

4-79

2-W

5-dó

4- 8 0

i-ei

3- 81

4-81

1- 82

2-82

3-82

4-82

1- 8 3




2-81

285.8
29 2. 2
10. 7

2V 9 . 7
29 2. 9
292. 1

INITIAL q u a r t e r

PREPARED BY FEDERAL R ES ERVE
S EPT EMBER 2 1 , 1983

17

8ANK OF ST .

LUUI S

__ .

DISPOSABLE PERSONAL INCOHE IN CURRENT OOLLAKS
_______COMPOUNDED ANNUAL RATES OP CHANGE_________
TERMI NAL

ö l L L i u N i UF
UL'LLAKS
k N.NUm L

I N I T I A L QUARTER

quarter

3- 7 9

12. 6
11.5

10 . 8

3-79

11.9

11.5

11. 2

11.5

11. 2

10 . 8

11.5

1-91

2- 81

I r K

2 —3 2

3-8 2

4 -32

1-8:5

13.0

4-79

3- 8 0

12. 1

2-79

2-80

13.0

1-79

4-79

0
1

2-79

1- 7 9

C
D

4- 78

o
0
0

3 - 78
4-78

10. 1

à.547.7
1. ^ K7 - S
9.5

1 t£)24»L
i

. o 7‘*. j

l .7

11. 9

11.7

11 . 6

12.3

12 . 0

13 . 9

10. 8

10.4

10. 1

10.2

9.3

8.9

4.1

3-80

11.1

10.8

10.6

10.8

10. 3

10. 3

8.6

13. 2

4-80

11. 4

11.2

1I . 1

11.3

11. 0

11. 3

10. 4

13. 6

14. 1

1-81

11. 6

11 . 4

11.3

11.6

11 . 4

11.6

11. 1

13. 5

13. 6

13. 1

11 . 2

11. 1

11. 3

11.0

11. 2

10. 6

12. 3

12. 0

11. 0

9.0

1.771.7
1.709.8
i .*46.G
i »VOÖ .0
1.967.6

0
0
»

*

1-80
2-80

11*3

3-81

11. 8

11 . 7

11.7

li.9

11. 8

12. 0

11 . 7

13. 3

13. 3

13. 1

13. 0

17. 3

4-81

11. 3

11 . 2

I 1. 1

11.3

11. 1

11. 2

10. 8

12.0

11. 7

11. 1

10. 5

11 .3

5.6

1-82

10. 6

10.4

10. 3

10.3

10. 1

10. 1

9.6

10 . 4

9.9

9. 1

8. 1

7.9

3. 5

1. 4

2-82

10. 3

10. 1

9.9

10.0

9.7

9.6

9.2

9.8

9.4

8.6

7.7

7.4

4.3

3.7

6.0

2 ,010.4

¿•092. 0
2 » 1t O .5
¿ *127. 9
¿«159.0

10.0

9.8

9.6

9.7

9.4

9.3

8.9

9.4

9.0

8. 2

7.4

7.1

4.8

4.5

6.1

6.2

9.8

9.6

9. 5

9.5

9.2

9. 1

8.7

9.2

8.7

8. 1

7.4

7.1

5. 2

5. 1

6.3

6. 5

6,Ç

1-83

9.6

9.4

9.2

9.2

8.9

8.8

8.4

8.8

8.4

7.7

7.1

6.8

5. 2

5. 1

6.0

6.0

6.0

5. 1

2-63

9.5

9.3

9.1

9. 1

8.8

8. 8

8.4

8.7

8. 3

7. 8

7.2

7.0

5.6

5. 6

6.5

6.6

6.7

to.7

8.2

3-78

4-78

1-79

4-?<r

Ï —815

2-80

3- 80

4-80

1-81

2- 81

3- 81

4- 3 1

1- 82

2- 8 2

3- 8 2

4-3 2

1-8 3

1

1

3-82
4-82

3-79

2.191,5
2.227.Ö

2.3VÌ.0

I N I T I A L QUARTER

DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS
COHPOUNOH) ANNUAL RATES OP CHANGE
TERMINAL
TRW K TO t
3-78

4-7 8

1-79

4 -7 8

3 .4
2.4

1.4

1-80

2-80

2- 8 1

3-81

4-8 1

1-82

2-8 2

3-0 2

4-8 2

1-83

0*2

3-7 9

4-7 9

2.5

2-7 9

3-7 9

B I L L IO N S OF
DOLLARS
PLATES

4.3

1-7 9

2-7 9

I N I T I A L QUARTER
ANNUAL
3 -8 0
4-80
1-81

1.004.8
ito u .i
1.0 1 1 .7

2.6

2 .0

1.7

3 .2

4 -7 9

2.1

1.5

1.2

1.7

0.1

1-8 0

2.1

1.7

1.5

1.9

1.2

2-8 0

1.0

0 .5

0 .1

0 .0

-1 .0

-1 .6

-5 .3

3-8 0

1. 2

0 .8

0 .5

0.6

-0 .1

-0 .1

-1 .3

2.9

4-8 0

1.6

1.2

1.0

1.2

0 .8

0.9

0 .5

3 .5

4.1

1 -8 1

1.8

1 .6

1.5

1.6

1.4

1.6

1.5

3.8

4 .3

4.4

2-81

1 .8

1.6

1.5

1.7

1.4

1.7

1.5

3.3

3.5

3.1

1.9

3-81

2.4

2 .2

2.2

2 .4

2.3

2 .7

2.7

4.4

4.8

5.0

5.3

8 .9

4-8 1

2.1

I .9

1.9

2 .0

1.9

2.1

2.1

3 .4

3.5

3 .4

3.0

3 .6

-1 .4

1-62

1.7

1.5

1.4

1.5

1.4

1.5

1 .4

2.4

2.3

2.0

1.4

1.2

-2 .4

2-8 2

1.7

1 .5

1.5

1 .6

1.4

1.6

1.5

2.4

2.3

2.0

1.5

1.4

-1 .0

-0 .8

1.9

3-8 2

1.6

1.4

1.3

1 .4

1.3

1.4

1.3

2.1

1.9

1.6

1.2

1.0

-0 .8

—0 . 6

0.8

-0 .3

4 -8 2

1 .7

1.5

1.4

1.5

1.4

1.5

1.4

2.1

2.0

1.8

1.4

1 .3

-0 .1

0.2

1.4

1.1

2.6

1-83

1.7

1 .6

1.5

1.6

1.5

1.6

1.5

2.2

2.1

1.9

1.6

1.5

0.4

0.7

1.8

1.7

2 .8

2.9

1.073.9

2-8 3

1.8

1.7

1.6

1.7

1.6

1.7

1.7

2.3

2. 2

2.0

1.8

1.8

0.8

1.2

2.1

2 .2

3 .0

3.2

ItO W .l

3-7 *

4 -7 8

1 -7 9

2-7 9

3-79

4-7 9

1-60

2-80

3-60

4-8 0

1-81

2- 8 1

3-8 1

4-81

1—82

2-82

3-82

4-6 2




1 .0 2 0 . 1
2.3

1.0 25.8
1.0 12.0
1.019.2
1.0 2 9 .6
JU<HOr7
1.045.6
1.068.1
1.064.3
-3 .4

1.055.1
1.0 60.2
1.059.3
1(066.1

1-83

I N I T I A L QUARtER

PREPARED BY FEDERAL RESERVE BANK OF ST* LO UIS
SEPTEMBER 2 6 » 1983

18

CORPORATE P R OF I T S A F T E R T AXE S *

COMPOUNDED ANNUAL RATES
TERMINAL
QUARTER

of

change

Ô l L L l U N i OF
DÙLLARi
ANNUAL K A i t S

I N I T I A L QUARTER
3- 78

4-78

1- 79

4 —78
1-79

15. 6
13. 2

5.8

13.1

8. 2

10 . 7

4- 79

1- 8 0

2- 80

3- 80

4- 80

1-81

2- 81

3-81

4-81

1- 92

2- 82

3-82

4-82

1- 83

8.4

3-79

3-79

3. 3

2-79

2- 79

29. 5

159. 9
161. 2
16^. 5
13. 0

169. 6

4-79

8. 0

3.2

3.2

0.6 -10.4

1-80

7. 1

3. 1

3. 1

1.4

2-80

-4.1

-8.7

3-80

- 1 .0

-4.7

-6.0

-8.7

4-80

-1.0

-4.2

-5.2

-7 . 4 -11.0 -11.1

1- 81

0. 6

-2.2

-2.8

-4.3

2-81

-2.8

-5.6

-6.5

-8.2

3- 8 1

-1.3

-3.7

-4.4

-5.7

-7.9

-7.5

4-81

-1.7

-3.9

-4.6

-5.8

-7.7

-7.3

1-82

-7.8

-10.2

165. 0

-4.0

2.9

-11.0 -15.3 -23.0

-28.6

166. 2
-50.5

-13.4 -14.4 -21.9

-7.0

10.7

140. 9
-0.5

140. 7

-8.4

12 . 4

7.3

-10.9 -11.0 -13.5

-0.6

-7.5

-10.7 -31.2

-9.1

2.6

-2.0

-2 .4 -10.5

-8.7

l.l

-2.8

-11.2 -12.8 -15.0

-6.3

-15.3

139. 4 ...
23. 3

-15.5 -17.6 -11.4 -16.1

15.9

-3.4

-9.1

139, 6
16. 5
4.5

- 18 .9 - 25.8 - 23 .9

-6.3

-8.4

-9.3

-10.6 -12.5 -12 .7 -14.3

- 8 . 2 - 1 2 . 0 - 13. 8

-6.1

-8.1

-8.9

-10. 1 -11.8 -11.9

- 7 . 7 -1 0 .9 -12.3 -16.3

4-82

-6.3

-8.2

-8.9

-10. 1 -11.6 -11.7 -12.9

- 7 . 9 -10 .8 -12.0 -15 .4 -12.5

1-83

-7.0

-8.8

-9.5

-10.6 -12.1

- 8 . 8 -11.5 -12 .7 -15.7

<M

-3.4

-5.0

-5.4

-6.2

3- 78

4-78

1-79

2-7v

1

C
D

2-82
3-82

-13.2

-18.8

-6.2

141. 7

-38.5 -5 9 .7

112. 9

-23.8

-31.4

- 1 3 . 0 - 19. 1

-23.0

6.5

-3.0

-17.3 - 19 .9

0.7

-6. 5

-15.3

-12.2

-13.3

-7.4

-7.2

-7.9

-3.0

-5.1

-5.5

-7.7

-4.2

3-79

4-79

1- 80

2-80

3- 8 0

4- 80

1-81

2- 81

I nitial

144. 0

- 13 .2 - 17 .3

16. 9

-19.4

-4.2

-6.8

-6.9

10 . 0

3-81

4-81

1- 8 2

117. 4
1 ló.i>
- 9.9

113 .

-1 0 .3 "13,7

-17,4

8.3

12. 4

2i>.o

91.0

2- 8 2

3- 8 2

4- 82

1- 83

127. 2

quarter

* NATI ONAL INCOME BASIS

PREPARED 6 Y FEDERAL KESiRVfc bANK LF S T .
SEPTEMBER 21, 1983

HISTORICAL SOURCES OF
NATIONAL INCOME AND PRODUCT ACCOUNTS DATA
The NIPA estimates for 1929-76 are in The National Income
and Product Accounts of the United States, 1929-75: Statistical
Tables (Stock number M 3-010-00101-1, price $10.00). Estimates for
1977-79 and corrections for earlier years are in the July 1982 Survey
of Current Business. Estimates for 1980-82 appear in the July 1983
Survey of Current business. Estimates for the periods since, appear
in subsquent issues of the monthly Survey of Current Business. These
publications are available from the Superintendent of Documents, U.S.
Government Printing Office, Washington, D.C. 20402.
For further information, write to the National Income and
Wealth Division (BE-54) Bureau of Economic Analysis, U.S. Department
of Commerce, Washington, D.C. 20230.




19

í>

106. 2

LLUI S

__

INVENTORIES

COMPARED WI TH MONTHLY S A L E S *

MANUFACTURING AND TRADE

1970

1971

* RAT I OS

1969

BASED

ON S E A S O N A L L Y

1972

SHADED

AREAS

LATEST

DATA

REPRESENT
PLOTTED:




1973
PERIODS

JULY

1974

ADJUSTED
OF

1975

1976

1977

1978

DATA.

BUSINESS

1979

SOURCE:

1980

1981

U . S . DEPARTMENT

1982
OF

1983

C OMME R C E

RECESSIONS.

PRELIMINARY
PREPARED

20

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

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