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National Economic Trends
Federal Reserve Bank of St. Louis

November 1983

After back-to-back recessions in 1980 and 1981-82, the U.S. economy has expanded
recently to the point where the level of nonagricultural payroll employment is near the
level prior to the 1980 recession. Payroll employment serves as one of the most important
and reliable indicators of economic well-being. Furthermore, such data are available for
states and regions and thus provide an indication of the geographical impact of national
recessions and expansions.
The accompanying table summarizes changes in payroll employment by regions as
defined by the U.S. Bureau of the Census. The expansion since fourth quarter 1982 has
been broadly based geographically; employment gains in the recent expansion have been
strongest in the South Atlantic, Mountain and Pacific regions and weakest in the Middle
Atlantic and West South Central regions.
Although the recent economic expansion has brought the level of U.S. employment
near that attained in the first quarter of 1980, there is considerable variation among
regions, reflecting both longer-term trends and the impact of the two recent recessions.
The West South Central region, despite recent weakness, has enjoyed the greatest
expansion since early 1980, followed by the Mountain region. Employment in the East
North Central region, on the other hand, has declined to 91.6 percent of its first quarter
1980 level. Longer-term weakness also is evident in the East South Central and West North
Central regions.
—Keith M. Carlson
Recent Trends in Payroll Employment
(seasonally adjusted)
Compounded annual rate of change
Expansion
Recession
IV/82 to III/83
III/81 to IV/82
New England
(CT, ME, MA, NH, RI, VT)
Middle Atlantic
(NJ, NY, PA)
South Atlantic
(DE, DC, FL, GA, MD, NC, SC, VA, WV)
East North Central
(IL, IN, MI, OH, W
I)
East South Central
(AL, KY, MS, TN)
West North Central
(IA, KS, MN, MO, NE, ND, SD)
West South Central
(AR, LA, OK, TX)
Mountain
(AZ, CO, ID, MT, NV, NM, UT, WY)
Pacific
(AK, CA, HI, OR, WA)
United States*

III/83 as a
percent of 1/80

-1.7%

98.9%

-0.4

-2.0

97.3

2.0

-1.2

101.8

1.1

-4.5

91.6

0.8

-3.3

94.8

0.6

-3.1

94.6

-0.8

-0.9

105.0

1.8

-1.2

102.8

2.0

-2.4

99.4

0.8

-2.4

98.1

0.4%

♦Figures for the United States differ from those for payroll employment on pages 2-3 of
this release because of computational differences.
Source:
Chase Econometrics.

Views expressed do not necessarily reflect official positions of this Bank or the Federal Reserve System.



T O T A L C I V I L I A N EMP LOY ME NT
__________ ____________________________________________________________ COMPOUNDED A N N U A L R A T E S OP C HAN GE_______________________________________________________ _________________
TERM INAL

_____________________________________________

0 .3

1 .2

IN IT IA L

1 0-82

11-82

12-82

MONTH___________________________________________________________________________ TH OUS AND S
OF PERSON S
3 -8 3
4 -8 3
1 -8 3
9 -8 3
5 -8 3
8 -8 3
6 -8 3
7 -8 3

6 .3

6 -8 2

9 -8 2

1

2 .4

8 -8 2

-1 .4

5 -8 2

7 -8 2

ro
CD

4 -8 2

6 -8 2

<N

1

4 -8 2

CD

3 -82

-3 .7

9 9* 48 4
9 9* 99 4
99.681

7 -82

-0 .0

0 .4

-2 .4

-1 .1

8 -8 2

0 .2

0 .6

-1 .2

0 .0

9 -82

-0 .1

0 .1

-1 .3

—0 . 6

-0 .3

1 0-82

-0 .7

-0 .6

-2 .0

-1 .5

-1 .6

-3 .0

-4 .3

11-82

-0 .7

-0 .6

-1 .7

-1 .3

-1 .4

-2 . 2

-2 .4

-0 .5

12-82

-0 .7

—0 . 6

-1 .5

-1 .2

-1 .2

-1 .8

-1 .8

-0 .5

—0 . 5

1 -8 3

—0 . 6

-0 .5

-1 .3

-1 .0

-1 .0

-1 .4

-1 .3

-0 .3

-0 .2

2 -8 3

-0 .6

-0 .5

- 1 .2

-0 .9

-0 .9

-1 .2

-1 .2

-0 .3

-0 .3

3 -8 3

-0 .5

-0 .4

-1 .1

-0 .8

-0 .7

-1 . 0

-0 .9

- 0 . 2

- 0 . 1

c*
>
CD
1

-0 .1

-0 .0

-0 .6

-0 .3

-0 .2

-0 .3

-0 .

5 -8 3

-0 .0

0 .1

-0 .4

-0 . 1

-0 .0

-0 .2

0 .0

0 .7

0 .9

6 -8 3

1 .0

1 .1

0 .7

1.1

1 .3

1 .3

1 .7

2 .4

2 .9

7 -8 3

1 .3

1 .4

I . 1

1 .5

1 .7

1 .8

2 .1

2 .8

3 .3

9 9L59 ÎL
1 .2

9 9.683
-1 .7

1

99 , 1 7 6

0 .6

9 9 , 136

0 .8

99,093
0 .1

99,103
-0 .5

-0 .2

99,06 3

0 .0

0 .0

0 .5

1 ,1

1 .4

2 .4

4 .4

1 .1

1 .4

2 .0

2 .8

1 .2

3 .4

4 .1

5 .3

7 .0

8 .3

15.9

3 .8

4 .5

5 .5

6.8

7 .6

10.9

99,103
9 9 tA > 8 .
9 9,557
1 00 .7 86
6. 1

1 01 ,2 85

8 -8 3

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

3 .3

9 -8 3

1 .6

1 .7

1 .5

1 .8

2 .0

2 .1

2 .4

3 .0

3 .4

3 .9

4 .3

5 .0

5 .8

6 .1

7 .4

4 .7

4 .0

4 *6

1 0-83

1.5

1 .6

1 .4

1 .7

1 .9

1 .9

2 .2

2 .8

3 .1

3 .4

3 .0

4 .4

4 .9

5 .0

5 .8

3 .4

2 .6

2 .2

-0 .2

3 -8 2

4 -S 2

Ç -8 ?

6— 82

7 -8 2

W -5 2

$ -6 2

1< ^ d 2

ÏI-S 2

1 2-82

1 -8 3

2 -8 3

3 -8 3

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

4 -8 3

5 -8 3

6—8 3

7 -8 3

8 -8 3

___

9 -8 3

9 -8 3

IN IT IA L

1 Q Ji^ > 3
101 ,9 45
1 Q 1 *928

nônTh

P A Y R O L L EMPLOY ME NT
COMPOUNOEO A N N U A L R A T E S OF CHANGE
TERM INAL
MONTH

IN IT IA L
3 -8 2

4 -8 2

5 -8 2

6 -8 2

7 -8 2

8 -8 2

9 -8 2

10-82

11-82

4 -8 2

-1 .3
-1 .9

-1 .6

-2 .5

-2 .5

-3 .7

-4 .3

8 -8 2

-2 .5

-2 .5

-3 .3

-3 .4

-2 .5

9 -8 2

-2 .1

-2 .1

-2 .6

-2 .4

-1 .4

-0 .4

10-82

-2 .4

-2 .4

-2 .9

-2 .8

-2 .3

-2 .2

-3 .9

11-82

-2 .4

-2 .3

-2 .7

-2 .6

-2 .2

-2 .1

-3 .0

-2 .0

12-82

-2 .3

-2 .3

-2 .6

-2 .5

-2 .1

-2 .0

-2 .5

-1 .8

-1 .6

1 -8 3

-1 .8

-1 .7

-1 .9

-1 .7

-1 .3

-1 .0

-1 .2

-0 .2

0 .7

3 -8 3

-3 .2

7 -8 2

THO US AND S
OF PERSONS
2 -8 3

-0 .1

6 -8 2

1 -8 3

-2 .4

5 -8 2

MONTH

12-82

90,024
90,016
89,775
89,450
89,264
89,23 5
88,938
88,785
88,665
3 .0

8 8,886

2 -8 3

-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 .5

-1 .6

-1 .4

- l . l

-0 .9

-0 .9

-0 .3

0 .1

0 .7

-0 .5

0*9

4 -8 3

-1 .1

—1 . 0

- l . l

-0 .9

-0 .5

-0 .3

-0 .3

0 .3

0 .8

1 .4

0 .9

2*4

5 -8 3

-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

4 .6

6 -8 3

-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 -8 3

-0 .0

0 .1

0 .1

0 .4

0 .8

1 .1

1 .2

1 .8

2 .3

2 .9

2* 9

3 .8

4 .6

4 .9

5 .0

4 .2

8 -8 3

-0 .4

-0 .2

-0 .2

-0 .0

0 .3

0 .5

0 .6

1 .1

1 .4

1 .8

1 .6

2 .2

2 .5

2 .2

1 .4

-0 .7

9 -8 3

0 .4

0 .6

0 .6

0 .9

1.2

1 .5

1 .7

2 .2

2 .7

3 .2

3 *2

3 *9

4 .4

4 .5

4 .5

4. 1

4 .1

10-83

0 .6

0 .8

0 .8

l. l

1.4

1 .7

1 .9

2 .4

2 .8

3 .3

3*3

4 .0

4 .4

4 .5

4 .5

4 .2

4. 1

9 .3

4 .3

5 -8 2

6 -8 2

7 -8 2

8 -8 2

9 -8 2

10-82

11-62 1 2 - 0 2

1 -8 3

2 -8 3

3 -8 3

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -8 3

3 -8 2

88,745
88,814
3 .8

89,090
89,421
89,844
90,152
-5 .4

89,735
1 4.5

90 » 7 5 3 F
91 » 073F

INITIAL MONTH
P-

P R TL IM IN AR Y




Pr e p a r e d b y
NOVEM BE R 4 ,

2

federal

1983

reserve

bank

of

s t

.

lo u is

M ILLIONS

1 15

RATIO

SCALE
OF P ER SONS

SEASONALLY

1

M ILLIONS

ADJ USTED

T

l
$

«5

*
$

*

105
OZ

• \

*/.

TOU A L

7Z
r

100

r

1 10

2
?

^101.#

v r

-/.

- 3 .7 Z

95

1 15

1

K

w

1 10

SCALE

OF P ER SO N S

;
%

1
«y




EMPLOYMENT
RATIO

IZ

105
100

95

f
* /.

+2. OZ

9Z

* 4 . OZ^

90

1

90

- 3 .2 Z
ri

85

t
. ///Y

'

85
PAYI* O L L

80

75

70

80

$
*
t

?

1

19 75

1976

Î 977

*

$

1 9 78

♦
1 97 9

t

?
t
1 98 0

1981
SOURCE :

P E R C E N T A C E S A R E A M IW A L R A T E S
LA TES T

DATA P LO T T E O t

Of

CHAM6E fO R

P E R IO D S

$
$
t

*
if
t

*

1982

U .S .D E P A R T M E N T

5
S
t

75

70

1983
O f LABO R

IW IC A T E O .

O C T O B E R P R E L IM IM A R Y
PREPARED BY FED ER A L

UNEMPLOYMENT
SEASONALLY

PERCENT

R ES E R V E BANK O f

ST.

LO T IS

RATE

ADJUSTED

PERCENT
12. 0

11

.

11.0

10 .

1 0. 0

9.

9.0

8

.

8.0

7.

7.0

6.

6.0

5.

5.0

4.

4.0
1975

1976

1977

19 7 8

1979

1 98 0

1981
SOURCE:

PERCENT
LATES T

Of

C IV IL IA N

DATA P LO TTED »

LA B O R

U .S .

1982

1983

D EP A R TM EN T O f LA B O R

fO R C E

OCTOBER

PREPARED BY fED ER A L RESERVE BANK O f S T . L O U IS

3

CONSUMER P R I C E I N O E X F OR A L L URBAN C ON S U M E R S ♦ S E A S O N A L L Y A D J U S T E D *
_______________________ CQ H PO UX OE D A N N U A L R A T E S OF C H A NGE________________________
TERM INAL
MONTH

IN IT IA L
4 -8 2

5 -8 2

6 -8 2

7 -6 2

8 -6 2

9 -8 2

10-62

11-62

1967*100-

MONTH

1 2 —82

2— 83 - 3 - 6 3

1 -8 3

4 -6 3

5 -8 3

6 -8 3

8 -fl3

7 -8 3

9 -ft3

3*0

1
0
0

7 .9

1 3.0

6 -8 2

9 .8

13.4

13.8

7 -8 2

9 .2

1 1.3

10.5

7 .3

8 -8 2

8 .1

9 .4

8 .2

5 .5

3 .8

>
0
i
C
D

..

4 -8 2

6 .9

7 .7

6 .4

4 .1

2 .5

1 .2

O
1
<
x
>

3 -8 2

6 .6

7 .2

6 .1

4 .3

3 .3

3 .1

5 .0

3 .4

2 .5

2 .1

2 .5

0 .0

¿84*0

. 28 6 *3 —
2 9 0 . CL
2 91 .7
2 92 .6
2 92 -9
2 94 .1

1 1-82

5 .8

6 .2

5 .1

12-82

4 .7

5 .0

3 .9

2 .3

1 .3

0 .7

0 .5

-1 .6

-3 .2

1 -8 3

4 .5

4 .6

3 .6

2 .3

1 .4

1 .0

0 .9

-0 .4

-0 .6

2 .1

2 -8 3

3 .8

3 .9

2 .9

1 .7

0 .9

0 .4

0 .2

-0 .9

-1 .2

-0 .2

3 -8 3

3 .6

3 .7

2 .8

1 .7

1 .0

0 .6

0 .5

-0 .4

-0 .5

4 —83

3 .9

4 .0

3 .2

2 .2

1 .6

1 .4

1 .4

0 .8

1 .0

5 —6 3

4 .1

4 .2

3 .5

2 .6

2 .1

2 .0

2 .1

1 .6

6 -8 3

4 .0

4 .1

3 .4

2 .6

2 .2

2 .0

2 .1

1 .7

7 -8 3

4 .0

4 .1

3 .5

2 .8

2 .4

2 .3

2 .4

8 -8 3

4 .1

4 .2

3 .6

2 .9

2 .6

2 .5

2 .6

2 9 4 .1
2 93 -3

2 93 .2

0 .4

-0 .4

1 .6

2 9 3 .6

2 .1

2 .1

4 .4

7 .2

1 .9

3 .0

3 .2

5 .1

6 .9

6 *7

2 .0

2 .9

3 .0

4 .5

5 .4

4 ,6

2 .1

2 .4

3 .2

3 .4

4 .6

5 .3

4 .7

3 .7

4 .9

2 .4

2 .7

3 .4

3 .6

4 .7

5 .3

4 .9

4 .2

5 .1

_ .. 5* .2 _

3 .0

3 .7

3 .9

4 .8

5 .4

5 .0

4 *6

5 .3

5 ,5

5 ,7

5 .1

4 .8

5 .3

5 .5

5 ,5

5 .3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -8 3

4 .2

4 .3

3 .8

3 .1

2 .8

2 .6

2 .9

2 .7

10-83

4 .3

4 .3

3 .9

3 .3

3 .0

3 .0

3 .1

2 .9

3 .2

3 .9

4 .1

4 .9

5 .4

3 -6 2

4 -8 2

5 -6 2

6 -S 2

7 -8 2

8 -6 2

9 -9 2

1 0-82

11-82

12-82

1 -6 3

2 -8 3

3 -8 3

CD

>
0
»

-2 .4

1 *
I
CD
<>
*

2 93 .8

*OATA B E G IN N IN G

1983 I N C O R P O R A T E S R E N T A L

EQ UIVALENCE

IN IT IA L
MEASURE.

2 95 .^_

2 ,5

2 9 7 .5
2 9 8 .7

3 0 1 .4
3 Q i. 7 _ _ _

MONTH

PREPAREO BY FEDERAL R E S E R V E BANK OF ST • LOUIS
N O V E M B E R 23, 1983
pRuuuceR p r i c e i n d e x , f i n i s h e d
________________ C o h p o u n Q e o a n n u a l
te r m in a l

in it ia l

goods
rates

of

seasonally aojusted*
c h a n g e _____________________________________________________________

1967 «

month

100

HONTH’
8 -8 2

9 -8 2

10-82

11-82

12-82

1 -83

2 -8 3

3 -8 3

4 -8 3

5 -83

6 -8 3

7 -8 3

1
»

7 -8 2

CD

6 -8 2

1

5 -8 2

ro
CD

4 -8 2

4 -8 2

CD

3 -8 2
1 .3

2 77 .1

5 -8 2

0 .7

0 .0

6 —8 2

4 .6

6 .2

12.8

7 -8 2

4 .8

6 .1

9 .2

277. 1
2 79 .9
5 .7

2 81 .2

8 -8 2

5 .0

6 .0

8 .0

5 .7

5 .7

9 -8 2

4 .4

5 .0

6 .3

4 .2

3 .5

1 .3

10-82

4 .4

4 .9

5 .9

4 .2

3 .8

2 .8

11-82

4.8

5 .3

6 .2

4 .9

4.7

4 .3

5 .9

7 .4

12-82

4 .7

5 .1

5 .8

4 .7

4 .5

4 .2

5 .2

5 .6

3 .8

1 -8 3

2 .8

3 .0

3 .4

2.

1 .5

0 .7

0 .5

-0 .7

-4 .5

-1 2 .2

2 -0 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

2 .2

2 .3

2 .6

1.5

1.0

0 .3

0 .1

-0 .7

-2 .6

—4 . 7

—0 . 6

-3 .3

-3 .5

-0 .4

-1 .7

1

2 82 .5
282 .8
4 .3

2 83 .8
2 8 5 .5
2 8 6 .4
2 83 .3
2 8 3 .8
2 8 3 .0

4 -8 3

2 .

2 .1

2 .3

1 .3

0 .9

0 .3

0 .1

-0 .6

-2 . 1

5 -8 3

2 .1

2 .2

2 .4

1 .5

1.1

0 .6

0 .5

-0 .1

-1 .3

-2 .2

0 .4

-0 .1

1 .5

3 .0

6 -8 3

2 .4

2 .5

2 .7

1 .9

1 .5

1.1

1.1

0 .7

-0 .2

-0 .9

1 .5

1 .4

3 .0

4 .5

6 .1

7 -8 3

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

0 .8

8 -8 3

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

2.8

9 -8 3

2 .4

2 .5

2 .6

2 .0

1 .7

1 .4

1 .4

1 .2

0 .6

0 .2

1 .9

1 .9

2 .8

3 .3

3 .4

2 .5

3 .4

2 .1

10-83

2 .5

2 .6

2 .7

2 .1

1 .9

1 •6

1 .6

1 .4

0 .9

0 .6

2 .1

2 .1

2 .9

3 .4

3 .5

2 .9

3 .6

3 .0

3 .8

3 -82

4 -8 2

5 -82

6 -8 2

7 -8 2

8 -8 2

9 -8 2

10-82

1 -8 3

2 -8 3

3 -8 3

4 -8 3

5 -8 3

6 -8 3

7 -8 3

6 -8 3

9 -8 3

1

♦O A T A FOR FOUR MONTHS




AGO R E V I S E D

TO R E F L E C T

LATE

1 1 - 8 2 “ 12-132

I n it ia l
R EPO RTING

0 .0

2 8 3 .0
2 8 3 .7
285. 1
2 8 5 .3
286 .4

4 .7

2 8 6 .9
2 8 7 .8

^ T h

PREPARED BY F e 0 6 R A T ^ E S E R V E ^ A N K ~ O F “ ST. X o u i s
N O V E M B E R 10, 1983

4

_

29e>.9




R A T IO

SCALE

1 9 6 7 -1 0 0

PRICES
SEASONALLY ADJUSTED

R A T IO

SCALE

1 9 6 7 -1 0 0

CONSUNER PRICE IHOEX BEGINNING JANUARY 197« 1$ FOR ALL URBAN CONSUMERS (CPl-U).
CPl-W DATA BEGINNING 19«) INCORPORATE A RENTAL EO01 VALENCE MEASURE FOR HOHEOWWERSH1P COSTS.
fERCENTACES ARE ANNUAL RATES Of CHANCE FOR PERI0D3 INDICATED.
LATES T DATA PLO TTEDt OCTOBER

PREPAREO BY FEDERAL RESERVE BANK Of ST^ LOflt

R A T IO

SCALE

1 9 6 7 -1 0 0

PRODUCER P R I C E S
SEASONALLY ADJUSTED

r a t io

scale

1 9 6 7 -1 0 0

PERCENTAGES ARE AJftWAL RATES OF CHANCE FOR PER 106$ INDICATED.
LATEST DATA PLOTTli, OCTOBER

PREPARED BY FEDERAL RESERVE BAMK OF ST. LOUIS

P R 0 0 O C ER P R I C E I N D E X , F I N I S H E D CONSUMER F OU OS - S E A S O N A L L Y A D J U S T E O *
_____________________ COMPOUNDED AN N UA L R A T E S OF CHANGE_____________________________
te r m in a l
monT h

IN IT IA L
6 -8 2

7 -8 2

4 -8 2

12.0

6 -8 2

9 .8

4 .4

2 .1

-3 .6

-6 .9

1 .9

-2 .5

-4 .3

-9 .0

0 .7

-3 .0

-4 .5

-7 .7

-2 .1

1967 -

I*ONTH
1 -8 3

2 -8 3

3 -0 3

4 -8 3

5 -8 3 . 6 -8 3

7 -8 3 . 8 -8 3

0 .9

f-«2

12-82

-1 7 .9

8 -8 2

11-82

5 .6

7 -8 2

1 0-82

21 . 4

5 -8 2

8 -8 2

100

0
0
»
o*

5 -8 2

0
0

4 -8 2

O'

3 -8 2

261 .6
3 .3

2 62 .3
2 63 .5
2 5 9 . 2 ...
....

2 5 9 .4
2 5 0 .3

-5 .0

10-82

0 .5

-2 .6

-3 .7

-5 .9

-1 .5

-2 .7

-0 .5

11-82

0 .5

-2 .2

-3 .1

—4 . 8

-1 .2

-1 .8

-0 .2

2 58 .2
0 .0

2 5 8 .2

12-82

0 .7

-1 .6

-2 .3

-3 .5

-0 .4

-0 .7

0 .$

1 .4

2.$

1 -83

0 .4

-1 .7

-2 .3

-3 .4

-0 .7

— 1 •0

0 .0

0 .2

0 .2

-2 .3

2 -8 3

1 .5

-0 .3

-0 .7

-1 .5

l.l

1 .2

2 .4

3 .2

4 .2

5 .0

12. t

3 -8 3

1 .6

-0 .1

-0 .4

-1 .1

1 .3

1 .3

2 .4

3 .0

3 ,1

4*1

7 .4

4 -8 3

2 .4

1 .0

0 .8

0 .3

2 .6

2 .8

3 .9

4 .7

5 .7

6 .4

♦.5

7 .$

5 -8 3

1 .8

0 .5

0 .2

-0 .2

1 .7

1 .8

2 .7

3.1

3 .7

3 .«

5 .4

3 .1

3 .5

-5 .7

262 ^?.

6-8 3

1 .2

-0 .1

-0 .3

-0 .8

0 .9

0 .9

1 .6

1.*

2 .1

2 .0

2 .9

0 .6

0 .0

-6 .2

-6 .6

261 .4

7-83

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

-8 .0

8 -8 3

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 .6

5 .2

9 -8 3

1 .3

0 .2

0 .0

—0 . 3

1.1

1 .1

1 .6

1 .8

2 .0

1 .9

2 .4

1 .0

0 .8

-1 .6

—0 , 6

1 .5

6 .6

8 .1

10-8 3

1.9

0 .9

0 .8

0 .5

1 .9

1 .9

2 .5

2 .7

3 .0

3 .0

3 .6

2 .5

2 .6

0 .8

2 .2

4 .5

9,1

11. 1

14.1

5^82

6 -0 2

7 -è 2

8 -8 2

9 -8 2

10-82

n -§ 2

12-82

1 -83

3 -8 3

4 -8 3

5 -8 3

8 -8 3

9 -8 3

8 -8 3

9 -8 3

3 -8 2

*OATa f o r

FOUR MONTHS AGO R E V I S E D

TO R E F L E C T

LATE

2 5 8 .1

IN IT IA L
REPO RTING

25«L r l _
2 * 0 .9
261 *4

2 .3

2 -8 3

13.6

6— 8 3

2 59 .6

7 -8 3

2 60 .7
2 62 .4
265 .3

MONTH

PRODUCE R P R I C E I N D E X , F I N I S H E D G O O O S , E X C L U D I N G FOOOS - S E A S O N A L L Y A D J U S T E D *
_____________________________ COMPOUNDED AN N U a L R A T E S OF CHANGE_________________________________
TERMINAL
KÖNTH

IN IT IA L
<
N
0
0
1

4 -8 2

5-82

6— 82

4 -8 2

-2 .3
3 .2

6 .6

5 .9

9 .1

14.8

10-82

11-82

12-82

K
1 ONTH

1967 »

1 -8 3

2 -8 3

3 -8 3

4 -8 3

5 -83

6 -8 3

7 -8 3

100

1 5 .1

7 -8 2

9 -8 2

- 1 .3

6 -8 2

8 -8 2

-3 .4

5 -8 2

7 -82

14.4

2 8 0 .4
28 0 . 1

8 -8 2

6 .1

8 .6

12.1

1 0.6

6 .9

9 -8 2

5 .6

7 .4

9 .7

8 .0

4 .9

3 .0

10-82

5 .6

7 .2

9 .0

7 .5

5 .3

4 .5

6 .0

1 1-82

6 .1

7 .5

9 .0

7 .9

6 .3

6 .1

7 .7

9 .5

1 2-82

5 .9

7 .1

8 .3

7 .3

5 .9

5 .6

6 .5

6 .8

4 .2

1 -83

3 .6

4 .4

5 .1

3 .7

2 .0

1 .1

0 .6

-1 .1

-6 .0

2 -8 3

3 .1

3 .8

4 .4

3. 1

1 .6

0 .7

0 .2

-1 . 1

-4 .4

-8 .5

-1 .2

3 -8 3

2 .5

3 .0

3 .4

2 .2

0 .8

-0 . 1

—0 . 6

-1 .8

-4 .4

-7 .2

-2 .9

-4 .5

4 -8 3

1 .9

2 .4

2 .7

1 .6

0 .2

—0 . 6

-1 .1

-2 .2

-4 .4

—6 . 4

-3 .3

-4 .3

-4 ,1

5 -8 3

2 .2

2 .6

3 .0

1.9

0 .8

0. 1

-0 .3

-1 .1

-2 .8

-4 .1

-1 .1

-1 ,1

0 .6

5 ,6

6 -8 3

2 .7

3 .2

3 .5

2 .6

1,6

1. 1

0 .9

0 .3

-1 .0

-1 .8

l.l

1 .7

3 .8

8 .0

10.5

7 -8 3

2 .8

3 .2

3 .6

2 .7

1.8

1 .4

1.2

0. 7

-0 .4

-1 .0

1 .6

2 .2

3 .9

6 ,7

7 .3

4 .2

8 -8 3

2 .9

3 .3

3 .6

2 .9

2 .0

1 .6

1 .5

1. 1

0 .2

-0 .3

2 .0

2 .6

4 .0

6 .2

6 .4

4 .4

4 .6

9 -8 3

2 .8

3 .2

3 .4

2 .7

1 .9

1.5

1 .4

1 .0

0 .2

-0 .2

1 .8

2 .3

3 .4

5 .0

4 ,9

3 .1

2 ,5

0 ,4

10-83

2 .7

3 .0

3 .3

2 .6

1 .8

1 .5

1 .3

1 .0

0 .2

-0 .2

1 .7

2 .0

3 .0

4 .2

4 .0

2 .4

1.8

0 .4

0 .4

3 -8 2

4 -8 2

5 -8 2

6-8 2

7 -8 2

8 -8 2

9 -8 2

1 0-8z

11-02

1
00

2 83 .4

2 -8 3

3 -8 3

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -0 3

♦D A T A F OR FOU R MONTHS AGO R E V I S E D




288 .2

TO R E F L E C T

2 8 8 .9

LATE

2 9 0 .3
2 92 .5
2 93 .5
-1 5 .2

IN IT IA L
REPO RTING

2 8 9 .5
2 8 9 .2

1-8 3
HONTH
1

2 88 .1
2 8 7 .1
2 8 8 .4
2 9 0 .8
291 .8
2 9 2 .9
2 93 .0
2 93 .1

;

PREPARED 0 Y F60ERAL RESERVE
NOVEMBER 10, 1983

6

.

SANK OF ST. L O U I i

.

INDUSTRIAL
RATIO

PRODUCTION

SCALE

RATIO

1967-100

SEASONALLY

SCALE

1967-100
160

ADJ USTED

155
I 50

1 45
I 40
135
130
125
1 20
I 15

10

1
105

100
1 975

19 76

1977

1978

1979

1980

1981

1982

1983

PERCENTAGES ARE AWWJAL RATES OF CHAHCE FOR PERIODS IND ICAT ED .
LATEST DATA PLOTTED» OCTOBER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF S T.

LOUIS

INDUSTRIAL p r o d u c t i o n
CONPOUNDtD ANNUAL RATÉS OF CKANGfc
TERMINAL______________ _________________________________ ________ IN IT IA L

HQNTn_________________

___

1967 * 100

W j NT f-f
3 -8 2

4 -8 2

3 -6 2

6 -8 2

4 -6 2

-1 0 .1

6 -6 2

-8 .2

-6 .3

—6 . 0

-3 .9

-1 .7

9 -8 2

10-82

11-82

12-62

1 -8 3

2 -8 3

3 -8 3

4 -6 3

5 -6 3

6— 83

7 -8 3

8 -8 3

9 -8 3

—4 . 2

7 -8 2

8 -8 2

-1 2 .0

5—82

7 -8 2

0 .9

1 40 .2
-8 .2

1 3 9 .2
1 38 .7
138 .8

8 -8 2

-5 .3

-3 ,8

-2 .3

-1 .3

-3 .4

9—8 2

-6 .1

-4 .9

-4 .0

-4 . 0

—6 . 3

-9 .1

1 3 6 .4
1 37 .3

10-82

-7 .1

-6 .3

-5 .9

—6 . 3

-6 .6

-1 1 .1

-1 3 .1

11-82

-7 .1

-6 .4

-6 .1

-6 .4

-8 .2

-9 .7

-1 0 .0

-6 .8

12-82

-6 .1

-5 .3

-4 .9

-5 .0

-6 .1

—6 . 8

-6 .0

-2 .2

1 -8 3

—3 .6

-2 .7

-1 .9

-1 .6

-2 .0

-1 .7

0 .2

5. 1

2 -6 3

-2 .8

-1 .8

- l . l

-0 .6

-0 .9

-0 .4

1 .4

5 .4

9.8

1 3.6

6 .3

3 -8 3

-1 .2

-0 .2

0 .7

1.3

1 .3

2 .0

4 .0

7 .8

11.8

1 5.0

11.9

17.8

4 -8 3

0 .6

1 .7

2 .7

3 .4

3 .7

4 .6

6 .7

1 0.4

14.3

17.3

1 6.0

2 1.2

2 4.7

3 -8 3

1 .6

2 .8

3 .7

4 .5

4 .9

5 .8

7 .9

1 1.2

1 4.6

1 7.1

16.1

19.5

2 0 .4

1 3 5 .7
134’. 9
2 .7
1 1.6

1 3 5 .2
21.4

1 3 7 .4
138 .1
1 40 .0
1 4 2 .6
14* .4

16.2

6 -8 3

2 .6

3 .8

4 .8

5 .6

6 .0

7 .0

8 .9

12.1

15.1

1 7.3

16.4

1 9. 1

1 9.6

1 7.1

17.9

7 -8 3

4 .2

5 .4

6 .4

7 .3

7 .9

8 .9

1 0.9

1 4.0

16.9

19.1

1 8.7

2 1.4

2 2.3

2 1 .5

24.1

3 0.7

8 -8 3

4 .9

6 .1

7 .1

8 .0

8 .5

9 .6

1 1.5

14.3

16.9

1 8.9

1 8.5

2 0.7

2 1 .2

20.4

21.8

2 3.8

1 7.3

9 -8 3

5 .3

6 .7

7 .7

8 .5

9 .1

10.1

1 1.9

14.5

1 6.9

1 8.5

18.2

20.0

2 0.4

19.5

2 0.4

21.2

16.7

16. 1

10-8 3

5 .7

6 .8

7 .8

8 .6

9 .1

10.1

1 1.7

14.1

16.2

17.6

1 7.2

1 8.7

18.8

17.8

18.2

18.2

14.3

12.9

9 .8

5—82

6^ 82

11-82

12 -8 ?

1 -8 3

Z -W 3 '■■3-8 3

7— 83

8 -8 3

9 -6 3

3*82

c -c z

10—62

“ — IN IT IA L
P ^ P R C l IH IN A K Y




1 4 6 .4
1 49 .7
1 51.7
1 5 3 . 6P
1 5 4 . 8P

HDNTH

“
P R E P A R E D BY F E D E R A L R E S E R V E
NUVfcMttER 1 5 , 1903

7

tTAfiKT l ) f

ST.

ld U I

PERSONAL
RATIO

SCALE

TRILLIONS

m o n th ly

OF

DOLLARS

totals

I N CO ME
at

SEAS O N ALLY

an nual

RATIO

rates

TRILLION S

A D JU S TE D

OF

SCALE

DOLLARS

2.9
8

7
6

5
4
3
2

1
0
.9

.8
.7
.6

.5
.4
.3
.2

.1

1975

1976

1977

1978

1979

1980

1981

SOURCE:
PERC ENT AGE S ARE ANNUAL
LATEST

DAT A P L O T T E D ,

RA TE S OF CHANGE FOR P E R I O D S

U .S .

1982

1983

DEPARTMENT OF COMMERCE

IN DIC A TE D .

OCTOBER P R E L I M I N A R Y
PREPARED BY FEDER AL

RES ERVE BANK OF S T .

LOUIS

P E R S O N A L INCO ME
COMPOUNDED A NN UA L R A T E S OF CHANGE
TERMINAL
MONTH"

IN IT IA L
8 -8 2

9 -8 2

10-82

7 .9
5 .9

5 .7

7 -8 2

6.5

6 .6

5.2

4 .9

4 .5

2 .9

3 .4

4 .9

4 .6

3 .5

3 .9

1 .8

5 .6

5 .5

4 .7

5 .4

4 .4

7 .4

5.8

5 .7

5 .1

5 .7

5 .1

7 .4

8 .5

6 -8 3

7 -8 3

8 -8 3

9 -8 3

9 .8

11-82

5 -8 3

5.1

10-82

4 -8 3

-1 .4

9-8 2

3 -8 3

8 .4

8 -8 2

2 -8 3

9 .3

6 -8 2

1 -8 3

6 .4

5 -8 2

1

7 -8 2

<N

6 -8 2

(SI
00

5 -8 2

1

4 -8 2

00

3 -8 2
4-8 2

BILLIONS OF
OOLLARS
ANNUAL . R A T t S

MONTH

7 .2

.Îh S.tS).
2

2 .1

. 568.0

2. 5 7 2 . 5
589.8
2, 596.7
2. 597 .4
. I t 617.8
.....

633.1

.

2 t6 4 5 .Q

12-82

5 .8

5.7

5.2

5 .7

5 .2

6 .9

7 .5

6 .4

5 .6

1-83

5 .6

5.5

5 .0

5 .4

4 .9

6 .2

6 .5

5 .4

4 .5

3 .5

2 -8 3

4 .9

4 .8

4 .3

4 .6

4 .1

5 .0

5 .0

3 .8

2 .7

1 .3

-0 .9

2» 6 5 2 . 6

5 .2

4 .8

5 .1

4 .7

5 .6

5 .7

4 .9

4 .3

3 .9

4 .0

9 .2

5 .5

5 .2

5 .5

5 .1

6 .0

6 .1

5 .5

5 .2

5 .1

5 .6

9 .0

8 .8

5 -8 3

6 .2

6 .2

5 .9

6 .2

6 .0

6 .9

7 .1

6 .7

6 .7

6 .9

7 .7

1 0.8

1 1.6

1 4.4

6 -8 3

6 .2

6 .1

5 .9

6 .2

6 .0

6 .8

7 .0

6 .6

6 .6

6 .7

7 .4

9 .6

9 .7

10. 1

6 .0

7 -8 3

6 .2

6 .2

5 .9

6 .2

6 .1

6 .8

7 .0

6 .6

6 .6

6 .7

7 .3

9 .0

8 .9

8 .9

6 .3

6 .6

6 .1

6 .0

5 .8

6 .1

5 .9

6 .6

6 .7

6 .4

6 .3

6 .4

6 .8

8 .2

8 .0

7 .7

5.6

5 .4

9 -8 3

6 .5

6 .5

6 .3

6 .6

6 .5

7 .1

7 .3

7 .0

7 .0

7 .2

7 .6

8 .9

8 .9

8 .9

7 ,6

8 .1

8 .8

1 3.6

10-83

6 .9

6 .9

6 .8

7 .1

7 .0

7 .6

7 .8

7 .7

7 .7

7 .9

8 .4

9 .7

9 .7

9 .9

9 .0

9 .8

1 0.9

1 4.3

15.1

3 -8 2

4 -8 2

5 -8 2

6 -8 2

7 -8 2

8 -8 2

9— 82

10—6 2

11-82

1 2-82

1 -6 3

2 -8 3

3 -6 3

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -8 3

CD

5 .3
5 .6

CD

3 -8 3
4 -8 3

1

2.,6 50 .5

IN IT IA L
P-

.

¿ « . 6 7 0 . 1 _____
,
2 16 8 9 . 0

-----------

2,

7 19 ,3

2 . ,73 2.6
2,

.74 7.1

2,

4 .2

7 5 6 .6

2.786. 1

2 , ,8 18.9r>

MONTH

PR ELIM IN A R Y




PR EPA R ED
NOVEMBER

8

BY FE D E R A L
2 1 . 1983

RESER VE

BANK

OF

ST.

LO U IS

RETAIL
RATIO

SALES

SCALE

BILLION S

19 7 5

RATIO

OF D O L L A R S

1976

SEASONALLY

1 977

1 978

B ILLION S

ADJ USTE D

1 979

1980
SOURCEt

1981
U.S .

OF

1982

SCALE

DOLLARS

1983

OEPARTMEHT OF COWERCE

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS IND ICA TE D.
LATEST DATA PLOTTED»

SEPTEMBER, OCTOBER ADVANCE ESTIMATE
PREPARED BY FEDERAL RESERVE BANK OF ST.
R E T A I L SALES
COMPGUNUEO A N N U A L R A T E S
IN IT IA L

t e r m in a l

OF CHAN GE

____

LOU IS

____

MONTH

m il l io n s

MONTH

of

DOLLAR“ *
3 -6 2

4 -8 2

5 -8 2

6 -8 2

* -8 2

2 3.3
4 .2

0 .9

6 .2

4 .6

-8 .6

3 .8

2 .1

-7 .5

3 .2

11-82

1 2-82

1 -8 3

2 -8 3

3— 63

4 -8 3

5 -8 3

6 -8 3

7 -8 3

8 -8 3

9 -8 3

12.4

8 -8 2

10-82

-2 5 .6

7 -8 2

9 -8 2

3 6 .9

6 -8 2

8 -8 2

11.0

5 -8 2

7 -8 2

88,468
9 0,813
88,603
8 9,469
89,069

-5 .2

9 -6 2

5 .1

3 .9

-3 .0

6 .0

2 .9

1 1.7

10-6 2

6 .3

5 .6

0 .2

8 .0

6 .6

1 3.0

1 4.3

1 i —82

8 .3

7 .9

3 .7

1 0.9

10.5

16.3

1 8.6

23.1

12-82

7 .3

6 .8

3 .1

8 .9

8 .2

11.9

11.9

1 0.7

-0 .4

1 -8 3

6 .3

5 .8

2 .5

7 .2

6 .4

8 .9

8 .2

6 .3

-1 .3

-2 .1

2 -6 3

4 .3

3 .7

0 .5

4 .4

3 .3

4 .8

3 .4

0 .9

-5 .6

-6 .1

89,897
90,90 5
9 2,492
92,459
9 2,295
-1 3 .8

9 1,164

3 -8 3

6 .3

5 .9

3 .2

7. 1

6 .4

8 .2

7 .6

6 .3

2 .5

3 .5

6 .5

31.4

4 -8 3

8 .1

7 .9

5 .6

9 .3

9 .0

10.9

1 0.8

10.2

7 .8

1 0.0

14.4

31.7

32.1

8 .4

1 2.2

12.1

14.3

1 4.6

1 4.6

1 3.3

1 6.2

2 1.3

35.9

3 8.2

4 4 .7 .

93,26 3
9 5,449

5 -6 3

1 0.4

1 0.4

6 -6 3

1 0.3

1 0.3

8 .5

11.9

1 1.9

1 3.8

1 4.0

1 3.9

1 2.7

1 5.1

18.8

2 8 .7

27.9

25.8

9 .4

7 -8 3

9 .9

9 .9

8 .2

11.3

1 1.2

1 2.9

1 3.0

12.6

1 1.6

1 3 .4

16.3

2 3.4

2 1 .5

1 8.2

6 .8

4 .3

9 .6

9 .2

7 .7

8 .8

10.4

15.1

12.1

7 .6

-2 .5

-6 .0

9 8,431
99,173
9 9,521

8 -6 3

8 .0

7 .8

6 .1

8 .8

8 .6

9 .8

9 -8 3

8 .5

8 .3

6 .8

9 .4

° »2

10.4

10.2

9 .9

8 .6

9 .7

1 1.3

1 5.4

12 . 9

9 .5

2 .1

-0 .2

-2 .4

1 7.3

10-83

8 .8

8 .6

7 .2

9 .6

9 .5

10.6

1 0.5

10.2

9 .1

10.1

11.5

1 5.2

13.0

10.1

4 .3

3 .1

2 .7

1 5.5

13.7

'S-B2

4 -8 2

5 -8 2

6 -8 2 ' T - B Z

8 -8 2

<5-82

10-B?

~2 -8 3

3 -8 3

4 -5 3 ' 5 -5 3 "

6 -8 3

7 -«

8 -8 3"

9=ST

1 1 -B Z 1 2 -8 2
IN IT IA L

PE-

9 7,801

-1 8 .9

99,11 1 P
1 0 0 , 175t

1 QNTrf "
H

P R E L IM IN A R Y
ESTIM ATED




P R E P A R E D BY FEtffTRAX ft E T E r VE
NO VEMBER 10, r 1983

9

bank

ÒF

S T.

l &j T*

"

H O U R L Y C O M P E N S A T I O N , B U S I N E S S S E C TO R
CL)MPQU*DfcO A N N U A L R A T E S QF CHAN Gb
T6K MI ? A L _____________________________ - __________________________________________I N I T I A L

Q U A R T E R _______________________________________________________________________ 1977 -

q u ar ts

1 -7 9

2 -7 9

1 -7 9

9 .9

3 -7 9

1 0.0

9^4

9 .6

9. 1

9 .4

1 -8 0

2 -8 0

4 -8 0

1-81

2 -8 1

3 -6 1

4 -Ö 1

1 -8 2

2 -6 2

3 -8 2

4 -8 2

IÛÛ

2 -8 3

1 -8 3

10.2

4 -7 9

4 -7 9

11.1

2 -7 9

3 -7 9

0
0
0
1

4 -7 8

115 -7
8 .6
1

1 -8 0

9 .9

9 .6

1 0.0

9 .9

U .2

2 -6 0

10.3

10.1

1 0.5

1 0.5

11.5

11*9

3 -6 0

10.2

?

1 0.3

10.3

1 0.9

1 0.7

9 .6

4 -6 0

10.1

9 .9

1 0.2

10.2

1 0.6

10.4

9 .6

9 .7

1 -6 1

1 0.2

10.1

10.3

1 0.4

10.7

1 0.6

1 0.2

1 0.5

11*3

2 -8 1

9 .9

9 .6

1 0.0

9 .9

1 0.2

1 0.0

9 .5

9 .4

9 .3

7 .4

3 -8 1

9 .9

9 .8

9 .9

9 .9

10.1

9 .9

9 .5

9 .5

9 .4

8 .5

9 .6

4 -8 1

9 .7

9 .6

9 .^

9 .6

9 .8

9 .6

9 .2

9.1

7 .0

8 .2

8*6

7 .6

8*5

8 .9

8 .6

9 .5

°

s

8 .6
17 6 - 3
1 29 -9
1 3? - <
)
136. a
1 3 9 .7

_____
145 . 5
1 4 6 .?

1 -8 2

9 .7

9 .6

9 .7

9 .6

9 .7

9 .6

9 .2

9 .2

2 -6 2

9 .4

9 .3

9 .4

9 .3

9 .4

9 .2

___8 . 8

8 .7

8 .6

8jlZ

7 .8

7 .8

6 .2

3 -8 2

9 .3

9 .1

9 .2

9 .1

9 .2

9 .0

8 .6

8*5

8 .4

7 ,9

8*0

7 *6

7 .5

6 .6

6 .9

4 -6 2

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

151 . 6
1 5 3 .9
1 56.5
_______________ 1 5 8 . 7

1 -8 3

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 .4

5 .1

2 -8 3

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

3 -8 3

8 .4

8 .2

8 .2

6 .1

8 .0

7 .8

7 .5

7 .3

7 .1

6 .7

6 .6

6 .3

6 .1

5 .5

5 .4

5 .0

4 .7

4 .5

5 .5

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -6 0

3 -8 0

4 -8 0

1 -8 1

2 -81

3 -8 1

4 -81

1 -8 2

2 -8 2

3 -8 2

4 -8 2

1 -8 3

2 -8 3

IN IT IA L

160 . 7
1 6 2 .1
1 6 4 .3 k

QUAKTfcR

F k ElT S T N a S Y

OUTPUT

PER HOUR OF A L L PER S ON S * B U S I N E S S
CO MP OU ND tO IANN UAL R A T E S OF CHANGÉ:

TERM INAL
Q U A R T ER

IN IT IA L
4 -7 8

1—T 9

-2 .0

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0

4 -8 0

QUARTER

1 -8 1

2 -8 1

1977 * 100
3 -8 1

4 -e i

1 -8 2

2 -6 2

3 -9 2

4 -9 2

1 -9 3 - 2 - S 2 . -

-1 .6

2 -7 9

1 -7 9

SECTOR

.....

.100*4 _______

-2 .4

3 -7 9

-2 .0

-2 .2

-2 .0

4 -7 9

-1 .7

-1 .7

-1 .4

-0 .8

1 -8 0

-1 .2

-1 .1

-0 .7

0 .0

0 .8

99*3^
9 9.1
9 9* 3 .

2 -6 0

-1 .5

-1 .5

-1 .3

-1 .1

-1 .2

-3 .2

3 -8 0

-1 .1

-1 .0

-0 .7

-0 .4

—0 . 3

-0 .8

1 .6

4 -6 0

-0 .8

-0 .7

—0 . 5

-0 .2

0 .0

-0 .3

1 .2

0 .8

1 -6 1

-0 .1

0 .0

0 .4

0 .8

1 .1

1 .2

2 .7

3 .3

5.8

2 -6 1

0 .1

0 .3

0 .6

1 .0

1 .3

1 .4

2 .6

3 .0

4 .1

2 .4

3 -6 1

0 .5

0 .8

1 .1

1 .5

1 .8

2 .0

3 .1

3 .4

4 .3

3 .6

4 .8

9 0.5
98* 9
99*1

101*1
10 2*3

4 -8 1

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 -6 2

0 .1

0 .2

0 .5

0 .7

0 .9

0 .9

1 .5

1 .5

1 .6

0 .6

oi
*
©

-2 .3

-0 .4

2 -8 2

-0 .0

0 .1

0 .3

0 .5

0 .6

0 .6

1 .1

1 .0

1 .1

0 .2

-2 .1

- 1 *0

-1* 6

-o ti

0 *0

U b

l . l

2 .4

-0 .4

-

101 .2
101*1

_______ 1 0 0 . 7 ____

3 -6 2

0 .1

0 .2

0 .4

0 .6

0 .7

0 .7

1 .2

1 .1

1 .1

0*4

0 .0

-1 * 2 _

4 -6 2

0 .3

0 .4

0 .6

0 .8

0 .9

0 .9

1 .4

1 .3

1 .4

0 .8

0 .5

-0 .3

1 -6 3

0 .4

0 .5

0 .7

0 .9

1 .0

l. l

1 .5

1 .4

1 .5

1 .0

0 .8

0 .1

1 .0

1 .4

2 .4

2 .8

2 .4

2 -6 3

0 .7

0 .8

1 .0

1 .2

1 .3

1 .4

1 .8

1 .6

1 .9

1 .4

1.3

0*8

J*7

2*1

3*1

3*6

3 .8

5 .2

3 -6 3

0 .9

1 .0

1 .2

1 .4

1 .6

1 .6

2 .0

2 .0

2 .1

1 .8

1 .7

1 .3

2 .1

2 .6

3 .4

3 ,9

4*1

4^9

4 .7

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4—7 9

1— 6o

2 -8 0

3 -6 0

4 -6 0

1 -8 1

2 -8 1

3 -6 1

4 -8 1

1 -8 2

2 -8 2

3 -6 2

4 -8 2

1 -8 3

2 -8 3

P R E P AR£Ô~BY
OCTOBER 2 7,

F
E
1983

IN IT IA L

0 .7

101 .1
3 .2

1 01 .9
1 0 2 * 5 _____
1 0 3 .8
1 05 .Or

QUARTER

P - P R t L I r t INARŸ




_
_

1 0 0 .5

10

O

^

SANK OF S T .

L O U Ïs T

PRODUCT I VI T Y,
RATIO

COMPENSATION, AND LABOR COSTS

SCALE

RATIO

1977-100

SEASONALLY

1975

1976

1977

1978

1979

1980

198 1
S O UR C Ei

PERCENTAGES

ARE

LATEST

PLOTTED.

DATA

A NNUA L

RATES

OF

3RD Q U AR T E R

CHANGE

FOR P E R I O D S

SCALE

1977-100

ADJUSTED

U.S.

1982

1983

D E P A RT M EN T

OF

LA BO R

ST.

LOUIS

INDICATED.

PRELIUINARY
P RE PA R ED

BY F E D E R A L

R E SE R VE

BANK

OF

U N I T L a BUR C O S T S , B U S I N E S S S EC TO R
________________________________________________________________ C U H P UU NO LO ANN UAL K A T E S OF C H A N G c _________

_____

______________________ ___

T E R M I N A L ____________________ ____________________ _________ ____________________ I N I T I A L Q U A R T E R_______________________________________________________________________ 1977 QUARTtR
4 -7 8
1 -7 9
2 -7 9
3 -7 9
* -7 9
1~80
2 -8 0
3 -8 Q
4 -9 0
1 -9 1
2~81
3~81
4 -8 1
1 -8 2
2 -8 2
3 - 8 2 ___±=3.Z___ L r 8 3 ___
1 -7 9

12.8

2 -7 9

11.8

1 0.9

3 -7 9

1 2.0

11.6

1 2.4

4 -7 9

1 1.4

1 0.9

1 1.0

9 .6

1 -8 0

11.3

1 0.9

1 0.9

1 0.1

100

1 14 ,8
1 1 7 . 8 ____
\? \ . V

10.7

1 2 7 .3

2 -8 0

11.9

11.7

1 2.0

11.8

1 3.0

15.3

3 -8 0

1 1.3

11.1

11.1

1 0.8

1 1.2

1 1.5

7 .8

4 -8 0

11.0

1 0.7

10.7

10.4

1 0.6

10.5

8 .2

1 -8 1

10.3

1 0.0

9 .9

9 .5

9 .5

9 .2

7 .2

7 .0

5 .4

2 -8 1

9 .8

9 .5

9 .3

8 .8

8 .7

8 .3

6 .7

6 .3

5.2

5 .0

1 3 1 -9
1 34 .4
8 .6

137 - ?
1 3 9 .0
1 40 .7

3 -8 1

9 .3

9 .0

8 .8

8 .3

8 .1

7 .7

6 .3

5 .9

5 .0

4 .8

4 -8 1

9 .5

9 .2

9 .1

8 .7

8 .6

8 .3

7 .2

7 .1

6 .7

7 .2

8 ,3

1 2.0

1 -8 2

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 .2

9 .1

8 .8

8 .7

8 .5

7 .7

7 .6

7 .5

7 .9

8 .7

10,1

9 ,1

3 -8 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 -8 2

8 .7

8 .4

8 .3

8 .0

7 .8

7 .6

6 .8

6 .7

6 .5

6 .7

6 .9

7 ,4

6 .3

5 ,1

3 ,6

2 .3

5 .7

4 ,7

3 ,5

2 ,9

3*4
0 .8

-1 .8

0*6

- 0 . 5 ____ Q *3___

4 .6

1 4 2 .3
1 4 6 .4
1 4 9 .9
8 ,2

_

1 5 4 . 7_

1 -8 3

8 .4

8 .1

7 .9

7 .6

7 .5

7 .2

6 .5

6 .4

6 .1

6 .2

6 .4

6 .7

2 -6 3

7 .8

7 .5

7 .3

7 .0

6 .8

6 .5

5 .8

5 .6

5 .3

5 .3

5 ,4

5 .5

4 .4

3 ,3

2 .2

3 -6 3

7 .4

7 .1

6 .9

6 .6

6 .4

6. 1

5 .4

5 .2

4 .9

4 .9

4 .8

4 .9

3 ,9

2 ,9

1 ,9

1*2

4—79

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0

4 -8 0

1- 8 1

2 -8 1

3 -8 1

4 -8 1

1 -8 2

2 -8 2

3 -8 2

1 5 5 .6

1 .3

IN IT IA L
P-

152*9

____

4 -8 2

JL5i>*9

1 -8 3

156 .2

2 -8 3

QUARTER

P R tL lM lN A K Y




11

PREPARED BY FEOfcRAL RESERVE BANK UF ST. LOUIS
OCTOBER 2 7 , 1983

..

G#OSS NATIONAL. PRODUCT IN CURRENT OOU.ARS
COHPQUNQED ANNUAL KATES O f CHANGE
TERMINAL
<WAUTfctf~

IN IT IA L QUARTER

4-78

1-79

1-7 9

8 .6

3—
79

4 -79

1-80

2-00

3-eo

4-80

1-81

2-81

3-81

4-81

1-82

3-82

2-82

4-82

1-83

2-83

9 .8

2 -7 9

2-79

B ILLIO N S O f
DOLLARS
ANNUAL RATES

7 .5

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

3 -7 9

10.2

1 0.5

1 3.6

4 -7 9

9 .7

9 .7

10.8

2 *4 5 4 .8
2 * 50 2 .9

8 .1

1 -8 0

10.1

10.2

1 1.1

9 .9

11.7

2 -8 0

8 .5

8 .3

8 .4

6 .8

6 .2

0 .9

3 -* 0

8 .7

8 .5

8 .7

7 .5

7 .3

5 .2

9 .7

4— P 0

9.5

9 .5

9.6

9. 1

9 .3

8 .5

12.6

15.5

1 -8 1

10.7

10.8

11.3

10.9

11.5

11.4

15.2

18.0

20.5

2-31

10.3

1 0.3

10.7

10.3

10.6

10.4

12.9

1 4.0

13.3

6 .6

3 -8 1

10.5

10.6

11.0

1 0.6

1 1.0

1 0,9

13.0

13.9

13.3

9 .9

13.3

4-8 1

9,o

10.0

10.2

9 .8

1 0.1

9 .8

11.4

11.7

1 0 .8

7 .8

8 .4

3 .7

1 — 82

9.C

9.0

9 .1

8 .7

8 .7

8 .4

9 .5

9 .4

8.3

5 .4

5 .0

1 .1

-1 .4

2-82

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

3-8 2

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

2 ,7

4-82

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

8.1

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

8.3

8.3

8 .3

8 .0

8 .0

7 .7

8 .3

8.

7 .4

6. 1

6 .0

5 .0

5 .2

6 .6

7 .9

1 0.7

13.3

3-83

d .*>

8 .4

8 .5

8 .2

8 .2

7 .9

8.5

8 .4

7.8

6 .6

6 .6

5 .7

6 .0

7 .3

7 .5

8 .7

10.9

12.3

11.2

1 -7 7

2 -7 V

3 -7 9

4^79

' 1 -8 0

2 -8 0

3 -8 0

4-8 0

1 -8 1

2 -81

3-91

4 -8 1

1-S 2

2 -8 2

5-« 2

4 -8 2

1 -8 3

2 -8 3

4-

2 , 5 7 2 .9
2 , 578 ,8
2 , 639,1

1

2 , 7 3 6 ,0
2 ,8 i^ > ,6
2 ,9 1 2 ,5
3 ,0 0 4 .9
3 ,0 3 2 .2
3 , 021. 4
3 ,0 7 0 .2

3 , 0 9 0 .7
3 , 1 0 9 .6
3 , 1 71 .5
3 ,2 7 2 .0
3 ,3 6 0 .3

I M T I a L ¿UART^'

GROSS N A T I O N A L PR OO UC T I N
COMPOUNDED A NN UA L R A T E S
Y t K H IN A L
w U i& T tT T
4 -7 8

1 -7 9

2 -7 9

3 -7 9

0 .1
1 .7

1 .9

4 -7 9

1 .4

1 .5

2 .8

1 .5

1 .6

2 .5

1 .3

3 -8 0

1 -8 1 -• 2 - 8 1

4 -8 0

3 -8 1

4 -8 1

1 -8 2

2 -8 2

3 -8 2

.4-62

1 -8 3

2 -8 3

0 .7

I -8 0

2 -8 0

-0 .9

3 -7 9

1 -8 0

1 .1

2 -7 9

4 -7 9

B I L L I O N S OF
OOLLARS
A N N U AL R A T E S

'Q U A RT ER

IN IT IA L

1 -7 9

1972 D O L L A R S
OF CHANGE

1 ,4 7 2 .6
1 ,4 6 9 .2
4 .8

____

1 ,4 8 9 ,3
1 .9

1 ,4 9 6 .4

2 -8 0

-0 .3

—0 . 6

-0 .5

-2 .3

-3 .7

-9 .0

3 -8 0

-0 .2

—0 . 4

-0 .3

-1 .5

-2 .2

-4 .3

0 .8

4 -8 0

0 .3

0 .2

0 ,4

-0 .5

-0 .8

-1 .6

2 .3

3 .8

1 -8 1

1 .3

I .3

1 .6

1 .1

1 .1

0 .9

4 .5

6 .4

9.0

2 -8 I

1.2

1 .2

1 .5

1.0

1 .0

0 .9

3 .5

4 .4

4 .7

0 .6

3 -8 1

1 .4

1 .4

1.7

1 .3

1 .4

1 .3

3 .5

4 .2

4.3

2 .1

3 .6

4 -8 I

0 .9

0 .8

1 .0

0 .6

0 .6

0 .4

2 .1

2 .3

2.0

-0 .3

-0 .7

-0 .0

1 .4 6 1 .4
1 ,4 6 4 .2
1 *4 77 ,9
1 ,5 1 0 ,1
1*5 12 ,5
1 *525,8
1 *5 06 ,9

-4 .9

1 -8 2

0 .4

0 .3

0 .4

-0 .1

-0 .4

1 .0

1 .0

0.4

-1 .6

-2 .3

-5 .2

-5 .5

2 -8 2

0 .4

0 .3

0 .5

0. 1

0 .0

-0 .2

1 .0

1 .0

0 ,5

- l. l

-1 .5

-3 .2

-2 .3

3 -8 2

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

4 -8 2

0.2

0. 1

0 .2

-0 . 1

-0 .2

-0 .4

0 .5

0 .5

0 .1

-1

-1 .4

-2 .4

-1 .7

1 -8 3

C. 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

2 -8 3

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

3 -8 3

1 .2

1 .2

1 .3

1 .1

l.l

1 .1

1 .9

2 .0

1 .8

1 .1

1 .2

0 .9

I .8

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -8 0

^ -8 0

4 -8 0

1-81

3 -9 1

4 -81

IS)

1 *480 . 7

-1 .3
2 .6

2 .4

3 .6

6 .1

9 .7

3 .0

3 .4

4 .6

6 .6

8 .7

~

1 -S 2

2 -6 2

3 -8 2

4 -8 2

U)

0 .6

o

O

o

1

•

1

x i

0

m

1

1 *4 89 ,3
1 *4 85 ,7

1

in

.

1 *4 8 5 ,8
0 .9
©




1 *4 86 ,6

1 *4 9 0 .1

1 -6 3

1*5 25 .1
7 .7

1 *5 5 3 .6

2 -8 3

OOAftTER

^ a s x c t b y F ? o E f t ~ * L n s E T F s :v e
NOVEMBER 22* 1983
pr

12

sank

u

£ St .

lo u

IS

GROSS N A T I O N A L PRODUCT
RATI O

SCALE

1975

1976

1977

1978

1979

1980
SOURCE:

PERCENTAGES
LATEST

ARE ANNUAL

DATA P L O T T E D ,




RATI O

QUARTERLY TOTALS AT ANNUAL RATES

R A T E S OF C H A N 6 E F O R P E R I O D S

3RD Q U A R T E R

U.S.

1982

1983

D E P A R TM E N T OF

C OM ME R C E

INDICATED.

pR£pARE0

13

1981

0y

RESERVE

^

S C AL E

op

$T_ ^

GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

1972-100

19 75

SCALE

1972-100

1976

19 77

*AS USED IN NATIONAL

1978

197 9

INCOME ACCOUNTS

198 0

1981

SOURCE:

U.S .

1982

1983

DEPARTMENT OF COMMENCE

PERCENTAGES ARE AKNUA1 RATES OF CHANCE FOR PERIODS IND ICAT ED .
LATEST DATA PLOTTED.

3RD QUARTER
PREPARED BY FEDERAL RESERVE BANK OF S T.

IM P L IC IT

P R IC fc D E F L A T O R FUR GROS S N A T I O N A L
COMPOUNDED A N N U A L R A T E S Ot- CHANGE

o
0
0
»

T E R M I N A L ________________________________________________________________________ I N I T I A L Q U A R T E R ________
QUa RTï A
1 -7 9
4 -7 8
2 -7 9
3 -7 9
4 -7 9
1 -8 0
2 -8 0
1-81
2 -8 1
3 -8 1
3 -8 0
1 -7 9

8 .5

1 -8 2

___________
2 -8 2

3 -8 2

4 -8 2

1972 *
1 -8 3

100

2 -8 3

8 .6

2 -7 9

PROOUCT

______
4 -8 1

LOU IS

158 .6 0
8 .5

1 61 .8 5

3 -7 9

8 .4

8 .4

8 .3

4 -7 9

8 .2

8 .0

7 .8

7 .3

1 -8 0

8 .4

8 .4

8 .4

8 .4

9 .6

2 -8 0

8 .9

8 .9

9 .0

9 .3

10.3

3 -8 0

8 .9

8 .9

9 .0

9 .2

9 .8

9 .9

8 .8

4 -8 0

9 .2

9 .2

9 .4

9 .6

1 0.2

1 0.4

10.1

11.3

1 -8 1

9 .3

9 .4

9 .5

9 .7

1 0.2

1 0.4

10.2

10.9

2 -8 1

9 .0

9 .0

9 .1

9 .2

9 .5

9 .5

9 .1

9 .2

8 .2

5 .9

3 -8 1

9 .0

9 .0

9 .1

9 .2

9 .5

9 .5

9 .2

9 .3

8 .6

7 .6

9 .4

4 -8 1

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 .6

8 .6

8 .7

8 .7

8 .8

8 .8

8 .4

8 .4

7 .8

7 .1

7 .5

6 .6

2 -8 2

8 .4 '

8 .4

6 .4

8 .4

8 .5

8 .4

8 .1

8 .0

7.4

6 .8

7 .1

6 .3

5 .0

5 .6

3 -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 -8 2

7 .8

7 .8

7 .7

7 .7

7 .7

7 .5

7 .2

7 .0

6 .5

5 .9

6 .0

5 .3

4 .4

4 .4

3 .8

1 -8 3

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

5 .5

2 -8 3

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 -8 3

7 .2

7 .1

7. 1

7 .0

7 .0

6 .8

6 .5

6 .3

5 .8

5 .4

5 .3

4 .8

4 .2

4 .2

3 .9

4 .0

4 .0

3 .3

3 .3

4 - /B

l - /V

3— 7 V

4— 79

1 -8 0

2 -8 0

3 -6 C

4 -8 0

1 -8 1

2 -8 1

> -8 1

4 -8 1

1 -8 2

2 -8 2

^5 -8 2

4 -5 2

1 -8 3

2 -8 3

2-




1 65 .1 2
1 68 .0 5
1 7 1 .9 4
1 0.9

1 76 .4 6
1 80 .2 4
1 8 5 .1 3
10.5

1 89 .8 3

IN IT IA L

1 9 2 .5 6
1 9 6 .9 4
2 01 .2 2
4 .3

2 0 3 .3 6
2 06 .1 5
2 08 .0 3
3 .8

2 1 0 .0 0
2 12 .83
2 1 4 .5 5
2 1 6 .2 9

ÛUÀRTtfc

“PKEPTfRFCTÏŸ PfüÇR ÀL ï ï ï T f A V é ôà N k' Ü P ' S T .
NOVEMBER 2 2 , 1983

14

LÛ U lS

PERSONAL

CONSOMPTION E X F F í ÜTTURES

j n

CURRENT OOLLARS

___________________
COMPOUNDED ANNUAL RATES OF CHANGE ________________

Tfc KM lN AL

IN IT IA L

B I L L I O N S OF
DOLLARS

QUARTER

“ QUARTER

ANNUAL RATES

4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

2 -6 0

3 -6 0

4 -8 0

1 -8 1

2 -8 1

3 -6 1

4 -8 1

1 -8 2

2 -8 2

3 -8 2

4 -8 2

1 -8 3

2 -6 3

10.3

1»44 6.3
1 » 476 . 0

1 1.2

11.7

14.9

4 -7 9

1 1.8

12.3

1 4.3

13.7

1 -8 0

1 1.7

1 2.0

13.3

12.4

11.2

2 —8 0

9 .9

9 .8

1 0.2

6 .6

6 .2

1 ,5 7 8 .0
1 ,6 2 0 .5
1 .5

1 1626 #4

3 -8 0

10.6

1 0.7

11.1

10.1

9 .0

7 .9

14.8

4-50

11.1

1 1.2

11.7

11 . 0

10.4

1 0. 1

14.7

14.4

1 -8 1

11.5

11.6

12.1

1 1.6

11 . 2

11.2

14.7

14.7

1 4.7

2-8 1

1 1.1

11.2

11.5

1 1 .0

10.6

10.5

12.9

12.2

1 1 .1

1 ,6 6 3 .4
1 ,7 4 1 .9
1 ,8 0 2 .6
7 .5

I ,8 3 5 .8

3 -8 1

11 .1

11.2

1 1.5

11.1

10.7

1 0.6

12.6

12.0

11.2

9 .5

1 1.4

4 -8 I

10.5

1 0.5

1 0.7

1 0.3

9 .8

9 .7

11.1

1 0.4

9 .3

7 .6

7 .6

3 .9

1 -8 2

1C.3

10.3

1 0.4

1 0.0

9 .6

9 .4

1 0.6

9 .9

8 .9

7 .5

7 .6

5 .7

7 .5

2-8 2

1 0.0

10.0

1 0.2

f.7

9 .3

9 .1

10.1

9 .5

8 .7

7 .5

7 .5

6 .2

7 .3

7 .2

9 .0

9 .8

9 .2

8 .5

7 .5

7 .5

6 .5

7 .4

7 .3

7 .5

1,6 8 6 .1
1 ,9 0 4 .1
1,9 3 8 .9
1 ,9 7 2 .8

3 -^ 2

9 .9

9 .8

9 .9

9 .5

9 .2

4 -8 2

9 .7

9 .7

9 .8

9 .4

9 .1

e .9

9. 1

8 .4

7. 5

7 .5

6 .8

7 .5

7 .5

7 .7

7 .8

1 -8 3

9.5

9 .4

9 .5

9 .1

8.8

8 .6

9 .2

6 .7

6 .0

7 .2

7 .2

6 .5

7 .0

6 .9

6 .8

6 .5

5 .2

2-83

9 .a

9 .7

9.8

9 .5

9 .2

9 .0

9 .7

9 .2

8 .7

8 .1

8 .1

7 .7

8 .3

6 .5

8 .8

9 .3

3-8 3

9.6

9 .6

9.6

9 .3

9 .0

8 .9

9 .0

8.6

6 .0

8 .0

7 .6

8 .1

8.2

8 .4

8 .7

Z —79

:W V

A-- ÌV

1 -8 0

3 -8 0

4 -8 0

1 -81

2-81

3 -8 1

4 -8 1

1 -8 2

2 -8 2

3 -8 2

1-

2 -8 0

INITIAL

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

°
©

4 - ry

2 ,0 0 8 .6

15.1

9 .0

10.9

6 .9

4 -8 2

1 -8 3

2 -8 3

2 ,1 4 7 .0
2 , 1 82 .9

QUARTER

PE R S O N A L C O N S U M P T lU N FX P E N D l TUR E S I N 1972 D O L L A R S
___________ COMPOUNDED A N N U A L R A T E S OF CHANGE
t e r m in a l

IN IT IA L

B I L L I O N S OF
OOLLARS
AN N U A L R A T E S

QUA RTER

WUARTÉR
3 -79

4 -7 9

1 -8 0

2 -8 0

1

0 .1

2 -7 9

4 -8 0

1 -8 1

2 -8 1

3 -8 1

4 -8 1

1 -8 2

2 -8 2

3 -8 2

4 -8 2

1 - 83

2 - 83

0 .9

2 -7 9

1-79

0
°
P

4 -7 8
1 -7 9

9 2 1 .2
-0 .7

9 1 9 .5

3 -7 9

1 .7

2 .1

5 .1

4 -7 9

2 .1

2 .5

4 .2

3 .3

1 -B C

1 .7

1 .9

2 .7

1 .6

-0 .1

2 -P U

0 .0

-0 . I

0 .0

-1 .6

-4 .0

-7 .7

3 -8 C

0 .6

0 .6

0 .9

-0 .2

-1 .3

-1 .9

4 .3

4 -8 0

1 .1

1.2

1 .5

0 .8

0 .1

0 .2

4 .5

4 .6

1 -8 1

1 .6

1 .7

2.1

1 .6

1.3

1 .6

5 .0

5 .3

5 .9

2 -8 1

1 .5

1 .6

1.9

1 .5

1.1

1.4

3 .8

3 .6

3 .2

0 .5

3 -8 1

1 .7

1.8

2 .1

1.7

1 .5

1 .7

3 .7

3 .6

3 .3

2 .0

3 .5

4 -8 1

1 .3

1 .3

1 .6

1 .2

0 .9

l.l

2 .6

2 .3

1 .7

0 .3

0 .2

-3 .0

1 -8 2

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 -8 2

1 .5 .

1 .6

1.8

1 .5

1 .3

I .4

2 .6

2 .4

2 .0

1.3

1 .5

0 .8

2.8

3.1

3 -8 2

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 -8 2

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

1.7

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

3 .2

3. 1

2 .9

2 .6

2 .9

2 .8

3 .8

4. 1

4 .3

5 .5

6 .4

10 . 0

2 .9

2 .8

3.7

3 .9

4 .0

4 .8

5 .3

6. 4

3 .0

2 -8 2

5^82

4 -8 2

1 - 83

83

9 3 0 .9
9 3 8 .6
9 3 8 .3
9 1 9 .6
9 2 9 .4
9 4 0 .0
9 5 3 .6

1 -8 3

1 .7

2 -8 3

2 .1

2 .2

2 .4

2 .2

2.1

2 .3

3 -8 3

2 .2

2 .2

2 .4

2 .3

2 .2

2 .4

3 .2

3 .1

2 .9

2 .6

4 - /Ö

I - /V

Z-7 V

3 -/V

4 - 79

1 -8 0

¿ -0 0

3 -8 0

4 -8 0

1 -81




IN IT IA L

9 5 4 .7

2 -8 1

9 6 2 .9

3 -8 1

9 5 5 .7

4 -8 1

961 . 4
9 6 8 .8
9 7 1 .0
9 7 9 .6
9 8 6 .7
I ,0 1 0 .6
1,0 1 8 .0

QUARTER

PR EPA R ED
NOVEMBER

BY PED ERa L
22 * 1 98 3

R ES ER V E' B a n * ÖP

$T7'~L0 u 1 s

G O i^IVATe O H S IC IN E T E T IN C K N O L A S
R Sr
O ET
V S MN
W 6 T OL R
_______ C HU N E A N A R T S O C A G_________
O P U OO N U L A E f HN E
TERMINAL
QUA* TiER

in it ia l

4-7 8

1 -7 9

2— 79

3 -7 9

4 -7 9

1 -8 0

2 -8 0

3 -8 0

4 -8 0

B IL L IO N S O f
D O LL A R S
AN NUAL R A T E S

quarter

1 -8 1

2 -81

3 -81

4 -8 1

1-82

2 -0 2

3 -8 2

4 -8 2

2 -7 9

9 .6
7 .5

8 .3

4 -7 9

1 .9

0 .5

-5 .3

-1 3 .3

1 -8 0

2 .5

1 .7

-2 .0

-4 .5

5 .1

2 -8 0

- 2 .4

-4 .0

-7 .9

-1 1 .4

-1 0 .5

-2 3 .8

3 -8 0

-4 .2

- 5 .8

-9 .2

-1 2 .1

-1 1 .8

-1 9 .1

-1 4 .2

0

0 .3

-0 .5

-2 .6

-3 .8

-1 .2

-3 .2

9 .0

38.5

1 -8 1

4 .9

4 .6

3 .6

3 .6

7 .4

7 .9

2 1.2

4 4.1

49.8

2 -8 1

5 .9

5 .9

5 .0

5.2

8 .7

9 .4

19.7

33.8

31.5

1 5.4

3 -8 1

7 .2

7 .4

6 .7

7. 1

10.4

11.3

20.1

30.6

28.1

18.5

2 1 .6

4 -e l

5 .2

5. 1

4 .3

4 .4

6 .9

7 .1

13.4

19.9

15.7

6 .1

1 .7

-1 4 .9

1 -8 2

\ .0

0 .6

-0 .5

-0 .8

0 .6

0 .1

4. 1

7 .5

2 .2

-7 .2

-1 3 .6

-2 7 .2

-3 7 .8

2 -8 2

1 .6

1 .3

0 .3

0.1

1 .5

l.l

4 .7

7 .8

3 .3

-4 .1

-8 .4

-1 6 .6

-1 7 .5

9 .4

-0 .5

0 .7

0 .3

3 .4

5 .9

1 .9

-4 .5

-8 .0

-1 4 .2

-1 4 .0

1 .1

-6 .5

-1 4 .1

-2 3 .9

-3 8 .0

-8 .7

-9 .7

2 -8 3

1 3.3

3 -7 9

1-83

6 .0

3 1.4

1

1 -7 9

3 -8 2

4 1 5 .1
4 2 8 .3
3 .4

4 3 1 .9
4 1 6 .8
4 2 2 .0
394 „3
3 79 .5
4 1 1 .7
4 55 .5
4 72 .1
4 95 .8
4 76 ,2

1.0

0 .7

-0 .2

4 -6 2

-2.0

-2 .5

-3 .6

-4 . 1

-3 .3

-4 .0

-1 .7

-0 . 2

-4 .3

-1 0 .2

-1 3 .9

-1 9 .6

-2 0 .7

1 -8 3

-C .3

-0 .7

-1 .5

-1 .9

-0 .9

-1 .4

0 .9

2 .5

-0 .8

-5 .8

-8 .5

-1 2 .7

4 22 .9

-1 2 .3

-4 . 4

4 3 2 .5
4 25 ,3
3 77 .4
4 0 4 .1

2 -8 3

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

4 .1

7 .8

4 2.2

5 3.9

3-33

* .2

4. 1

3 .6

3 .6

4 .9

4 .9

7 .5

9 .5

7 .2

3 .6

2 .4

0 .2

2 .6

1 1.5

12.0

1 7.1

4 4.8

52.0

5 0.1

4 - 76"

1-79“

2 -n

"T -T T

4 -7 9

1 -8 D

2 -8 0

3 -8 0

4 -8 0

I-8 I

2 -8 1

3 -81

4 -8 1

1 -8 2

Z -8 2

3 -8 2 T 4 -8 2

1 -8 3

2 -8 3

IKITTa L

450. 1
4 9 8 .2

" u E
'G arT r

GROSS P R I V A T E D O M E S T IC I N V E S T M E N T I N 1972 D O L L A R S
COMPOUNDED A N N U AL R A T E S O f CHANGE
______

-0 .7

4 -7 9

1-80

2 -8 0

3 -8 0

3-81

4 -8 1

1 -8 2

2 -8 2

3 -8 2

*
I
0
0

3 -7 9

0
0

2 -7 9

B IL L IO N S O f
DOLLARS
ANN UAL R A T E S

QUARTER
1 -8 3

2 -8 3

- I .2

2 -7 9

1 -7 9

7
0
0

4 -7 8
1 -7 9

•
CD
0

IN IT IA L

N>
1

T-RM INAL
O U ^ rl T F K

2 4 1 .5
-0 .3

2 41 .3

3 -7 9

-2 .7

-3 .5

—6 . 6

4 -7 9

-7 .0

- 8 .8

-1 2 .8

-1 8 .6

1 -8 0

-6 .0

-7 .1

-9 .3

-1 0 .6

-1 .8

2 -8 0

- 1 1.3

- 1 3 .2

-1 6 .1

-1 9 .1

-1 9 .3

-3 3 .7

-1 4 .8

-1 6 .8

-1 6 .2

-2 2 .5

2 37 .2

3 -8 0

-1 1 .0

-1 2 .6

4 -8 0

- 6 .9

-7 .7

-8 .8

—9 . 3

1 -8 1

-3 .7

-4 .0

-4 .5

-4 .1

2 25 .3
2 24 .3
2 0 2 .4
-9 .5

1 9 7 .4

—6 . 8

-8 .4

7 .7

-0 .9

-0 .7

13.6

2 7.3

2 6.5

1 .2

1 .9

1 3.4

2 2 .2

19.4

28. 1

2 10 .0
2 2 2 .7

2 -8 1

-2 .1

-2 .2

-2 .5

-1 .9

3 -8 1

-0 .9

-0 .9

-0 .9

- 0 . 2

2 .8

3 .5

13.2

19.7

17.0

12.6

1 2.4

4 -8 1

-2 .9

-3 .1

-3 .3

-3 .0

-0 .8

-0 .7

6 .3

9 .7

5 .6

—0 . 6

—6 . 7

-2 2 .5

1 -8 2

-5 .8

-6 .1

—6 . t>

-6 .7

-5 .2

-5 .6

-0 .8

0 .8

-3 .9

-1 0 .3

-1 6 .9

-2 8 .6

-3 4 .2

2 -8 2

-5 .1

-5 .4

-5 .8

-5 .8

-4 .4

-4 .7

- 0 . 2

1 .2

-2 .7

-7 .7

-1 2 .2

-1 9 .2

-1 7 .5

0. 3

12.8

2 2 9 .5
2 3 6 .3
221 . 7
1 99 .7
2 0 1 .4

3 .4

-5 .5

-5 .8

-5 .8

-4 .5

-4 .8

-0 .9

-3 .2

-7 .4

-1 1 .0

-1 6 .0

-1 3 .8

-1 .3

-5 .8

4 -8 2

-7 .4

-7 .8

-8 .3

-8 .4

-7 .5

-8 .0

-4 .9

-4 .4

-7 .8

-1 1 .9

-1 5 .5

- 2 0 . 1

-1 9 .5

-1 4 .0

-2 1 .5

-3 4 .6

1 -8 3

-5 .6

-5 .8

-6 .2

-6 . 1

-5 .1

—5 . 4

-2 .3

-1 .5

-4 .4

-7 .6

-1 0 .2

-1 1 .6

-4 .9

-7 .5

-8 .3

2 8.7

2 -8 3

-3 .1

-3 .2

-3 .4

-3 .2

- 2 . 0

- 2 . 0

1 .3

2 .3

0 .0

-2 .5

-4 .3

-6 . 5

-3 .5

4 .2

4 .4

8 .0

38.8

4 9.8

3 -8 3

- l . l

- 1 .1

-1 .2

-0 .8

0 .5

0 .6

3 .9

5 .1

3 .3

1 .2

-0 .0

-I. 5

2.0

9 .7

1 1.0

1 5.6

39.8

4 5 .8

4 1.9

I - 79

2 -7 9

3^T9

4 -7 9

1 -8 0

Z — 80

3 -8 0

4 -80

1-81 2-Til ' 5-81 4-81 1-82 2-52

3 -8 2

4 -8 2

1 -83

2 -8 3

3 -8 2

4 -

in




initial

oimatea

-1 3 .5

' " "

1 7 8 .4
1 90.0
2 1 0 .2

2 29 .4

"

P ftB P A ft fö
NOVEMBER

16

1 98 .4

0V FC öTft'AL R ES ER V E
22» 1 98 3

Of

ST.

L O U IS

G O V E R N M E N T P U R C H A S E S O F G O O D S AND S E R V I C E S 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 OF C H A N G E ____________________
terminal

INITIAL QUARTER

QUARTER
4-78

1- 7 9

2-79

3-79

1-79

6.0
8.2

9.7

10.3

12.1

14.8

3-8 0

4 — 80

1-81

2- 81

3 - 81

4 - 81

2-82

1-82

3-82

4-82

1- 8 3

1 2 .6

4-79

2-80

6.8

3-79

1-8 0

5.2

2-79

4-79

B I L L I O N S OF
DOLLARS
ANNUAL RATES
2- 8 3

16.9

456.9
464.5
478 .5
497.6

1- 8 0

11 .6

13 .3

15.5

17 .0

17.1

2 -BO

12.1

13.5

15 .3

16 .2

15.8

14 .6

3-80

10 .7

1 1 .7

12 .7

12 .7

11.3

8.5

2.7

4-8 0

11.3

12.2

13.1

13 .2

12.3

10 . 8

9.0

15 .6

1- 81

11.5

12 . 3

13.1

13 .2

12 .5

11.3

1 0 .3

14.3

13 .0

2-8 1

10.8

11 . 5

12.1

12.0

11.2

10 .1

9.0

11.1

9 .0

3—8 1

1C .9

11.5

12.1

12.0

11 .3

10 .4

9. 6

11 .4

10 .0

8.5

4-e l

11 .4

11 .9

12.4

12.4

11 .9

11.2

10 . 6

12.2

11 . 4

10.9

13 .9

15 .9

1-3 2

10.8

11.3

11.7

1 1.6

11.0

1 0 .3

9.7

1 0 .9

10 .0

9.3

10.7

10.1

4.6

2-8 2

10.1

10.5

10.0

10 . 6

10.0

9.2

8.6

9.5

8 .5

7.6

8.2

7.0

2.8

1.1

3-82

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

4-8 2

10.8

1 1 .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

1-8?

10.0

1 0 .3

10 .6

10.4

10.0

9.4

8.9

9.6

8 .9

8.4

8. 9

8.4

7. 0

7.6

9.8

6.7

-1.3

2-83

9.7

9.9

10. 1

10 . 0

9. 5

8.9

8. 5

9.0

6 .4

7.9

8. 2

7. 7

6.4

6. 8

8.2

5.7

1. 1

3-83

9. 7

9.9

10.1

10. 0

9.5

9. 0

8. 6

9. 1

8 .5

8.1

8. 4

7. 9

6.9

7.2

8.5

6.7

3. 9

6.6

9.7

1- 79 - 2- 79

3-79

1- 80

2 -8 0

3^80

4 - 80

1-81

2-61

3 -0 1

4-81

1-8 2

2-82

}-82

4-82

1-83

2-83

4 - 7b

517.6
535.5
539.1
559.0
576.3
5.1

583.5
12.0

600.3
622.8
629.8
631.6
655.7
6 7 9 .7
677.4
683 .4

3. 6

699.4

TMTflTQUÀtfTeS"

' PURCHASES
“
COMPOUNDED

OF G O O D S A N D S E R V I C E S IN
A N N U A L K A T E S OF C H A N G E

INITIAL

terminal

1972 D O L L A R S
BILLIONS OF
DOLLARS
ANNUAL RATES

OUARTER

JU A R T t R
1-79

2-79

3-79

4-79

1- 80

2-80

3 - 80

4-80

2-79

— 0 .6
0. 5

1 .7

1 .3

2. 3

3.2

1 .8

2 .7

3.5

3.8

2 .2

3.0

3.6

3.8

4.0

1.3

1 .8

2.1

1.9

1.3

0.0

1. 3

1.4

1.1

0.5

-0.7

-3.0

1 .3

1 .7

1.8

1.6

1.2

0.6

—0. 6

l.l

0.9

1.2

1.3

1.1

0. 7

°
o

-0.9

0.0

1.1

1-83

2 -83

4.5

2-8 1

4-8 2

- 2 .1

1-8 1

3-82

-3.8

0.9

2-82

4.0

3-80

1-82

4.0

2-8 C

4-81

3.5

1-80

3-81

2 .9

4-79

2-81

0.6

3-79

1-81

-1 .9

*
l
0
0
o

4-70
1-79

276.4
276.8
278.8
201 .2
284.0
286.8
284.0
282.5
295.6
-2.1

284.1

1 .2

1.6

1.4

l.l

0.7

0.0

1.0

2.0

0
0

3. 9

4-8 I

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- P 2

1 .3

1.5

1.6

1.5

1 .3

0.9

0.5

1.3

1.9

1.3

2.5

1.8

-0.3

o

3-8 1

1. 5

286.8
289.6
289.4

2-82

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

3-8 2

I .4

1.6

1.7

1.6

1 .4

1.1

0.8

1.4

1 .9

1.5

2.3

1.9

I .2

1.9

9.3

4- 8 2

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

1.5

1.5

1.4

1.3

I .0

0. 8

1.2

1 .6

1.3

1.8

1.4

0.9

1.2

3. 3

0.5

2- 8 3

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

0
t\
r
1

-1.1

3-83

1.3

1. 5

1.6

1.5

I .4

1.2

1.0

1.4

1 .7

1.4

1 .8

1.6

1.2

1.5

2.8

1. 2

-1.7

2.0

5. 2

4-78

1— 77

2-7V

3-/V

4-/9

T.-80

2-80

3-80

4-FO

T-8T

2-81

3 - S T ~ 4-Til

“1-82

4-82

1-83

2 -83




285.8
292.2

i
co
N

10.7

299.7
-8.8

292.9
292.1
295.8

T
INITIAL < O R T E R "

“PR EPA R ED B T “ F 6 D E R A L
NOVEMBER 2 2 , 1983

17

R ES ER V E

t ìA N K T O F ^ T T L O U IS

d is p o s a b l e

personal

in com e

in

COMPOUND60 A N N U A L R A T E S
TERM INAL
QUARTER
1 -7 9

2 -7 9

3 -7 9

4 -7 9

1 -8 0

o

4 -7 8

(N
J
1
C
D

IN IT IA L
3—80

4 -8 0

current

dollars

OF C H A N G E __________
B I L L I O N S OF
OOLLARS
A NN UAL RATfcS

QUARTER

1 -8 1

1 -7 9
2 -7 9

10.8

11.5

11.2

11 .2

10.8

11.5

U .7

11 .6

12.3

12.0

1 C .4

10. 1

10.2

9 .3

8 .9

3 -«C

*0 .8

10.6

10.8

1 0.3

1 0.3

8 .6

11.1

1 1.3

1 1 .0

11.3

1 0.4

1 3.6

11 . 4

11 .3

11.6

1 1.4

11.6

1 1. 1

13.5

13.6

11 .2

11.1

11 . 3

11.0

11.2

10.6

1 2.3

12.0

11 .0

1-83

2 -8 3

13.1

2 -ei

4 -8 2

14.1

l- « l

3 -8 2

13.2

11 .2

2 -8 2

1 3.9

2-^0

1 -8 2

10. 1

i-e o

4 -8 1

1 3.0

4 -7 9

3 -8 1

9 .5

3 -7 9

2 -8 1

1 2.1

9 .0

1 ,5 8 7 .5
1 ,6 2 4 .0
1 ,6 7 4 .3
1 ,7 1 4 .9
1 ,7 7 1 .7
4. 1

1 ,7 8 9 .8
1,8 4 6 .0
1 ,9 0 8 .0
1 ,9 6 7 .6
2 ,0 1 0 .4

3 -8 1

11 .7

11 . 7

11.9

11 . 8

12.0

11.7

1 3.3

13.3

13.1

13.0

17.3

4 -8 1

1 1.2

11.1

1 I .3

11.1

11.2

10.8

12.0

1 1.7

11.1

10.5

1 1.3

5 .6

1 -8 2

1C . 4

1 0.3

1 0.3

10.1

10 .1

9 .6

1 0.4

9 .9

9 .1

8.1

7 .9

3 .5

1 .4

2 -8 2

U .1

9 .9

1 C.0

9 .7

9 .6

9 .2

9 .8

9 .4

8 .6

7 .7

7 .4

4. 3

3 .7

6.0

8 .9

9 .4

9 .0

8.2

7 .4

7 .1

4 .8

4 .5

6. 1

7 .1

5 .2

5 .1

6 .3

6 .5

6 .8

6 .8

5 .2

5 .1

6.0

6.0

6 .0

5 .1

2 ,0 9 2 .0
2 ,1 2 0 .5
2 , 127 .9
2 ,1 5 9 .0

3 -8 2

9 .8

9 .6

9 .7

9 .4

9 .3

4 -8 2

9 .6

9 .5

9 .5

9. 2

9 .1

8 .7

9 .2

8 .7

8.1

7 .4

i-e?

9 .4

9 .2

9 .2

3 .9

8.8

8 .4

8.8

8 .4

7 .7

7. 1

2 —8 3

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

6 .7

8.2

3 -8 3

9 .4

9 .2

9 .2

9 .0

8 .9

8 .6

8 .9

8. 6

8.1

7 .6

7 .4

6 .3

6 .4

7 .2

7 .5

7 .8

8 .2

9 .7

11.2

4 - /y

I - JV

2 -/9

3 -/9

4 - /V

1 -8 0

2 -8 0

3 -8 0

4 -8 0

1 — 81

Z - 8T

3 -8 1

4 -81

1 -8 2

2 -82

3 -8 2

4 -8 2

1 -83

2 -8 3

6 .2

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

I N I T I A L "Q UA k T T A

DISPOSABLE

P E RS O N A L INCOME I N 1972 O O L L A R S
a n n u a l r a t e s o f c h a n g e _______

coMPQUNoea

T c KM I N A L
iU A R Tt-k

IN IT IA L
4 -7 8

1 -7 9

2 -7 9

3 -7 9

4 -7 9

1-8 0

2 -8 0

3 -8 0

4 -80

B I L L I O N S OF
OOLLARS
A N N U AL R A T E S

UUARTER

1 -8 1

I -70

1 .4
2 .0

1 .7

1 .5

1.2

1 .7

1 .7

I .5

1 .9

1 .2

2 -8 0

C .5

0. 1

0 .0

- 1.0

- I .6

0 .8

0 .5

0.6

- 0. 1

- 0.1

-1 .3

1 .2

1 .0

1 .2

0 .8

0 .9

0 .5

3 .5

1 .6

1 .5

1.6

1.4

1 .6

1 .5

3 .8

4 .3

1.6

1 .5

1 .7

1 .4

1 .7

1 .5

3 .3

3 .5

3 .1

2 -8 3

4 .4

2-8 1

1 -8 3

4 .1

1 -8 1

4 -8 2

2 .9

4 -8 0

3 -8 2

-5 .3

3 -8 0

2 -82

C. l

1— 8 0

1 -8 2

3 .2

4 -7 9

4 -8 1

0 .2

3 -7 9

3 -8 I

2 .5

2 -7 9

2 -8 1

1 .9

1 , 011.1

1 ,0 1 1 .7

1, 020.1

2 .3

1 ,0 2 5 .8
1 , 0 1 2 .0

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

3 -e i

2.2

2 .2

2 .4

2 .3

2 .7

2 .7

4 .4

4 .8

5 .0

5 .3

8 .9

4 -8 I

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 -8 2

1 .5

1 .4

1 .5

1.4

1 .5

1 .4

2.4

2 .3

2.0

1 .4

1 .2

-2 .4

-3 .4

1,0 6 8 .1

1 ,0 6 4 .3
1 ,0 5 5 .1

2-8 2

1 .5

1 .5

1.6

1 .4

1 .6

1 .5

2 .4

2 .3

2.0

1.5

1 .4

- 1.0

— .8
0

1 .9

3 -8 2

1 .4

1 .3

1 .4

1 .3

1 .4

1 .3

2 .1

1 .9

1 .6

1.2

1 .0

— . 8
0

— .6
0

o.a

-0 .3

4 -8 2

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

l.l

2.6

1 -8 3

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 -8 3

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

3 .5

3 -8 3

2.0

1.9

2.0

2 .0

2.1

2.1

2 .7

2.6

2 .5

2 .3

2 .4

1 .6

2.0

2 .9

3 .1

4 .0

4 .5

5 .3

7 .2

4 -7 8

1 -7 9

2 -7 7

3 -7 9

4 -7 9

1-8 0

2 -8 0

3 -8 0

^ 8 '0

1-81

2 -8 1

5 -8 1

4 -8 1

r -8 2

2 - 8^

3 -8 2

4 -8 2

1 -8 3

2 -8 3




IN lflA L

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

2 .9

1 ,0 8 3 .1
1 ,1 0 2 .1

¿ U A k T ^ ft"

P ^ P A A fO 8Y W bt'ffA L ftES^RVe BANK OF ST.
NOVEMBER 2 2 , 1903

18

LOUIS

C O R P OR AT E PROFITS AF TE R TA XE S*
C O M P O U N D E D A N N U A L K A T E S OF- C H A N G E
B I L L I O N S OF
* L__________________________________________________________________ I N I T I A L Q U A R T E R ____________________________________________________________O O L L A K S
UÜÀRTtR
ANNUAL RATES
4-78
1-79
2-79
3-79
4-79
1-80
3-81
2-80
3-80
4-80
1-81
2-81
4- 81
2-02
1-82
3-82
4-82
1-83
2-83
1-7Q

3.3

2-7Q

5 .8

8.4

161 .2
164.5

3-79

8.2

10.7

1 3 .0

4-79

3.2

3.2

0. 6

-10.4

1-8 0

3 .1

3.1

1 .4

-4.0

2.9

2-8 0

-8.7

-11 . 0

-15.3

-23.0

-28.6

3-80

-4.7

-6.0

-8.7

-13.4

—

. 4

-21 .9

23 . 3

4-flO

-15.3

10.7

169.6
165.0

14

1
U!
o
V*

166.2
13 9 , 4
146.9

-4.2

- 5 .2

- 7 . 4 -1 1 .0 - 1 1 . 1

1-8 I

-2 . 2

-2.8

-4.3

-7.C

-6 . 3

-8.4

12 . 4

7.3

15.9

2-8 1

-5.6

-6.5

-8 . 2 - 1 0 . 9

-11.0

-13.5

-0.6

-7 . 5

-10.7

-31.2

2.6

-2.0

-2.4

-1 0 .5

-2.8

-3.4

-9.1

4.5

-11 .4 -1 6 . 1

-18.9

-25.8

-23.9

-0.5

146 . 7
152.2
138 .6

3-8 I

-3 . 7

-4

.4

-5 . 7

-7.9

-7 .5

-9 .1

4-8 1

-3.9

-4.6

-5.8

-7.7

-7 .3

-8.7

1 - 8?

-10.2

-11 .2 -12 .8 - 1 5 . 0

-15.5

-17.6

2-82

-8 . 4

-9.3

-10.6

-12.5

-12.7

-14.3

-8.2

-1 2. 0 -13.8

-18 .8 - 1 5 . 3

3-8 2

-8.1

— 8.9

-10.1

-11.8

-1 1 .9 - 1 3 . 2

-7 .7

-10.9 -12.3

-16.3

4-A2

-8.2

-8 . 9

-10.1

-11 .6 - 1 1 . 7

-12.9

-7.9

-10. 8 - 1 2 . 0

-15.4 -12.5

-17.3

1.1

16.5

144.0
-6.2

141 .7

-3 8. 5 - 5 9 . 7

112.9

-31 .4

1 6 .9

- 1 3 . 0 -19. 1 - 2 3 .0

6. 5

-3.0

-19.9

0.7

-6.5

- 1 7 . 3 - 1 9 .4

-23.8

117.4
1 1 6. 5
-9. 9

113.5

1- 8 3

-8.8

-9 .5 - 1 0 . 6

-12.1

-12.2

-13.3

-8 .8

-11.5

-12.7

-15.7

-13.2

-4 . 2

-10.3

2-83

-5.0

-5 . 4

-6.2

-7.4

-7 . 2

-7.9

-3.0

-5. 1

-5.5

- 7 .7

-4.2

-6 . 8

-6.9

10.0

8.3

12.4

25.6

91.0

3-83

-2.5

-2.8

-3.4

-4.4

-3 . 9

-4.4

0. 5

-1 . 1

-1.2

- 2 .8

1.1

-0.7

0.1

16 . 5

16.4

21.8

34.7

72.0

54.9

4-78

1- 79

2-/9

3-f9

4-79

1- 8 0

2 — 80

3— 80

4 — 80

1— 81

2 — 81

3— 8 1

4 - 81

1- 82

2-82

3-82

4-0?

1-85»

2-83

In i t i a l
* national income
K — RK hL lr ti NA RY

-13.7 -17.4

108.2
127.2
1 4 1 . 9R

Oü a r t e r

basis

PREPARED
NOVEMBER

BY F E D E R A L
22, 19 8 3

K c S fRVE

ÖAN*

OF

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, 1929-76: Statistical
Tables (Stock number 1503-010-00101 -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
purvey oT~Current Business. Estimates for the periods since, appear
in subsquent issues of the monthly Survey of Current Business. These
publications are available from the Superififendent 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

i>T. L U U Ï S

I NVENTORI ES COMPARED WITH MONTHLY SALES*
MANUFACTURING

AND

TRADE
68

. 64

64

. 60

60

.56

56

. 52

52

. 48

48

44

. 40

40

.36

36

32
1969
«RATIOS

1970

1971

1972

1973

1974

1975

1976

1977

BASED ON SE A SO N A L L Y ADJUSTED DAT A .

1978

1979

SOURCE:

1980

1 98 1

1982

1983

U . S . DEPARTMENT OF COMMERCE

SHADED AREAS REPRESENT P ER I O DS OF BUSI NESS R E C E S S I O N S .
LATEST

DATA P L O T T E D :




SEPTEMBER P R E L I MI N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST .

20

LOUIS

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