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n n n o n n L E c o n o mitcr e o d s
PREPARED

ENDING:

BY

October 31, 1970

FEDERAL

RESERVE

BANK

OF

ST. LOUIS

RELEASED:

November 25,

Total spending on goods and services rose 4.6 per
cent in the year ending third quarter 1970 (pages 8 and 9).
Prices increased 5 per cent over this period (page 15), while
real product declined 0.5 per cent (pages 8 and 9). Latest
monthly data, most of which have been influenced by work stop­
pages in the automobile industry, suggest that progress in
combating both recession and inflationary pressures continues
at a slow pace.
Inventories have remained high relative to sales
during the past year (page 16). The relatively high inventoryto-sales ratio during this period largely reflects sluggish
growth in sales, rather than rapid inventory accumulation.
Personal income rose 5.6 per cent in the year ending in October
(pages 6 and 7), compared with an 8.6 per cent annual rate of
increase during the 1965-69 period.
Payroll employment declined sharply in October, and
was 1 per cent below the year-earlier level (pages 2 and 3).
Industrial production declined 6.2 per cent during the past
year (pages 4 and 5), with much of the drop occurring in
September and October. The automobile industry work stoppages
have contributed strongly to the recent employment and industrial
production declines.
Wholesale prices of industrial commodities rose sharply
in October (pages 12 and 13), with much of the increase attrib­
utable to higher prices of new-model automobiles. These prices
had increased at a 2.8 per cent annual rate from March to September
compared with a 3.4 per cent rise the previous twelve months. Whole
sale prices of farm products and processed foods and feeds rose 1.5
per cent in the year ending in October (page 14). Consumer prices
increased at a 5 per cent annual rate from June to October (pages
12 and 13), down from a 6 per cent rise the previous year.




2
t O T A t CIVILIAN ENFLOVN^NT
CONFO! tNOEO A N N U A L H A T E S OF C H A N C E

7-69

• _________________________ I N I T I A L W O H T H ____________________________________________________________________ T M O U S A N O S *
_
U P PCftSONS
3-70
4-70
5-70
7-70
6-70
8-70
9-70
1-70
2-70
9-69
1 1-69 12-69

B— 6 9

f
e
**

Tg»»»|Nâl.__________________________
MOMTH
3
45-69
4-69
1

c

e

*
i
*•

77,589
-4*

*5- A Í )

77.321

C

4
.

C

1
<

77,741

4.7
4* 8

77*931

3.0

4.3

3.1

3.3

C -^ Q

3.4

2.4

2.0

O.B

10-49

3. 5

2.7

7.7

2.3

78,142
78,194
3.9

78,445

*.1

2.4

2.3

2.0

2.6

1.3

12-40

3.2

2.4

2.*

2.3

2.B

2.3

1-70

3.4

2,9

2.9

2.B

3.3

3.1

4.0

4.T

c

2.6

2 .1

2.0

1.7

1.9

1.4

1.5

0.6

-3.3

1 -7 A

2.3

2.4

2.3

2.1

2.4

2. 1

2.2

1.9

0.5

4-* 0

*.3

1.8

1.7

1.5

1.6

1.2

1.2

0.7

-0.6

0.3

-2.8

5-70

1.5

1.«

0.3

0.3

0.5

0.0

-0.2

-0.9

-2.2

-1.9

-4.9

-7.0

6— T 0

l . l

0.4

0.4

0.1

o Ti

-0 .4

-0.7

-*.3

-2.5

-2.3

-4.4

-5.2

-3.4

7-7 0

1.5

.1. 1

0.9

0.7

0.7

0.3

0.2

-0.2

-1.0

-0.6

-1.8

-1.4

1.5

6.5

A -^0

1.2

O.B

0.6

0.4

0.4

0.0

-0.1

—0.6

-1.3

—1 . 0

-2.0

- I .

-0.0

1.7

-2.9

0-7 A

1.1

0.7

0.*

0.3

0.3

-0 .2

-0.5

-1.2

-0.9

-1.7

-1.5

-0 .1

1.0

-1.6

-0.3

1.?

O.o

0.9

0 .6

0 .6

0 .2

—0 . 1

-n .6

-0.3

-o.o

-0 .6

0 .2

1.9

5-6?

6-69

7-69

B-69

12-69

1-70

2-70

3-70

4-70

7-tO

8-70

1

IV

1 1-4«

ir -? r *

•
*

4

-0 .0

78,528
3.2

0.3

9-69 10-69 11-69

78,737

INITIAL

79,0*1
78,822
4.5

79,112
78,924

«

78,449
78,225

1.8

0.7

6-70

5-70

78,498
78,445
78,424
4.1

NONTH

W B O U ÇWPL'QY^n F
CO NFO U N D E D ANNUAL «ATES OF CHAN5F

F * F f >Ä*EO BY F E D E R A L A e S F R V E
N o v « a b « r 9. 1 9 7 0

ftANK D F j r .

C
+
>
1
r

4-40

5-49

4-69

7-60

4-60

9-49

10-69 11-69

12-69

1-70

lûüts

----------

THOUSANOS
O F FFH5ÜN5

INITIAL *ONTH

TF9MINAI.
honth

78,686

2-70

3-70

4-70

5-70

6-70

7-70

8-70

9-70
69,992

4-49

’
.9

5-49

3.0

3.1

6-40

3.0

3. 1

____ 7 0 , 1 7 2
3.0

70,347
70^400

7-*0

’
.5

>.4

*.0

O.í^

ft-40

’
.3

>.2

1.9

1.3

1.7

9-40

2.1

2.0

1. 7

1.3

1 .4

1. 2

to-*o

>.5

2.A

2.3

2. 1

2.5

2.9

4.7

11-40

’
.1

2.0

1.8

1.4

1.7

1.8

2.1

-0.5
0.6

70,497
70,567
sk t

\ 7 %

70,836
70,808
70,842

12-4«

t.o

1.3

1.6

1.4

1.5

1,5

1.6

0.1

1-70

7,0

1 .«

1.8

1.6

1.7

1.7

1.8

0.9

1.6

2.6

>-70

2.0

2.0

1. 9

1.7

1.9

1.8

1.9

1.3

1.9

2.5

^.4

3-7 0

’
.1

’
.0

1.0

f u r l

1.8

1.9

2.0

1.6

1.9

2.4

2.3

2.1

A-7-»

!.•

1.7

1. 5

1.4

1.4

1.4

1.5

0.9

1.2

1.4

1.0

0.2

70,992 71,135
71,256
-1.6

n,163

0.8

0.8

0.7

0.6

0.0

0.1

0.0

-0.6

-1.6

-3.4

- 5 . 1 ^ ^

- M -

0. 3

0,2

O rl

-0,5

-0.5

-0.7

-1.3

-2.2

-3.6

-4.6

-4.1

0.5

0.3

0.2

0.1

-0.0

-0.5

-0.6

-0.7

-1.3

-2.0

-3.0

-3.4

-2.6

- 1 . 0 s* v

0.3

0.1

0.0

-0.1

-0.2

-0.7

-0.7

-0.0

-1.4

-2.0

-2.3

-3.1

-2.5

-1.6

-1.8

-1.9

-1.0

0.0

0.5

5-70

'.1

1.1

1. 0

6-*o

0.0

0.7

0.6

7-70

0.3

0 .4

«-7 0

0.4

0.5

. -

70,852

A "VA/

70,603
70,546

- 2 . 2 X .

70,414
70,61OF

3.4 ^

0-7 0

0 .7

0.4

0.5

0.3

0.3

0. 1

0.1

-Ot3

-<lt3

-0.4

-0.3

-1.3

10-70

*>.3

0 .1

-0.0

-0.2

-0.3

-0.4

-0.6

-1.0

-1.0

-1.2

-1.6

-2.1 p u r l -2.9
I. in
1

-2.4

-2.0

-2.3

-2.4

-7 .^

3-49

4-4 9

5-6 9

6-49

7-6 9

8-69

9 -6 9 1 0 -6 9 1 1 - 6 9 12-69

1 -tO

2-t*

3-79

5— tO

6-70

t-tO

F -tÔ

9-to

4— 16

___ 7 0 , 1 2 9 ®

w r n v 'iw f y
©- OftPLIMfMAOY




“

......

FREFAREO BY FEDERAL RESERVE BANK"Ö ? “ S T 7 "LO U fS
NOVEMBER 9 , 1970

_

3

Em ploym ent
Ratio S c a l e

Ratio S c a l e

Source: U.S. Department of Labor
Percentages are annual rates of change for periods indicated.
Latest d a t a p lo tte d :O cto b e r preliminary




Prepared byFederal Reserve Bank of St. Louis

4

I N D U S T R I A L PRODUCTI ON
COMPOUNDED ANNUAL RATES OF CHANGE
TFRMI NAL
MONTH

IN ITIAL
3-69

4-69

5-69

6-69

7-69

8-69

9-69 10-69

11-69 12-69

1957- 5« )

MONTH
1-70

2-70

3-70

4-70

5-70

6-70

7-70

B-70

* 100

9-70
171.7

2*1

172.5
173.7
174.6
174.3
173.9
17 3. I
171.4
171 d L
170.4
170.5
Ì1 L > L

_

170.2
169.0
1.68*8
169.2
169.0
166.1P
1 6 2 . 3P

3-69

4-69

5-69

6-69

7-69

8-69

9-69

10-69

11-69

12- 69

IN ITIAL

1-70

2-70

3-70

4-70

5-70

6-70

7-70

8-70

9-70

MONTH

P - P RE L I MI NARY




PREPARED BY FEDERAL RESERVE
NOVEMBER 17. 1970

BANK OF S T .

L O UI S

5

Industrial Production
Ratio Sea le

Ratio Sea le

Percentages are annual rates of change for periods indicated.
Latestdata plotted: O c to b e r p re lim in ary




Prepared by Federal Reserve Bank of St. Louis

R f T A I L SAt€S
COMPOUNDED A N N U A L H A T E S O F C H A N G E
TERMINAL
MONTH

MI L L I ONS <>
DOIIJTO-

INITIAL NONTH
3-69

2-69

4-69

5-69

6-69

7-69

8-69

9-69

10-49

11-49 12-49

I— 7 0

2-70

4— 7 0

3-70

5-70

4-70

7-70

»-70
2 8 , 881

3-69

-14.4

4-69

3. 2

24 . 3

5-69

1. 8

11.0

2*I* 4 0 >

29.386

-0.9

6-6 9

1.2

7.0

-0.8

-0.6

29 , 3 7 1

7-69

-1.4

2.2

-4.3

-5 .9 -10.9

29,090

8- 6 9

0.6

3.9

-0.6

-0*5

-0.5

29,346

11. 1

29,259

9-69

0.0

2.6

-1.2

-1.3

-1.5

3.5

-3.5

10- 69

1.9

4.4

1. 4

1.9

2.6

7.5

5.7

15.9

11- 69

1.0

3.1

0.4

0.6

0.8

4.0’

1. 7

4.4

-5.9

12- 69

0.7

2.5

0.1

0.2

0.3

2.7

0.7

2.2

-4.0

1-70

1. 2

2.9

0.7

0.9

1. 2

3.3

1. 8

3.2

-0.7

29,620
29*471
29,*1$

-2.1

2 9 , 5 70

4.3

2.0

12.0 11.0

29 , 9 8 0

2— 7 0

2.5

4.2

2.3

2.7

3. 1

5.3

4.4

6.0

3.7

7 .1

3-^0

1.7

3. 2

1.5

1. 7

2.0

3.7

2.7

3.7

1. 5

3.4

5. 3

4.8

-6.9

4-70

3.7

5.3

3.8

4.3

4.8

6.7

6. 1

7.6

6.3

8.9

11.8

13.7

11.7

34. 0

5-70

29 , 8 0 1

3.4

4.8

3. 4

3.8

4.2

5.9

5.3

6.4

5.2

7.1

9.1

9.8

7.1

15.0

-1.3

0

^.2

4.5

3. 2

3.6

3.9

5.4

4.8

5.8

4.4

6.2

7.6

7.9

5.5

10.0

-0.4

-J
1
-J
o

30 , 536

3.5

4.8

3. 6

3.9

4.3

5.6

5.2

6. 1

5.0

4.5

7.8

8.0

6.1

9.6

2.6

6-7

3 0 , 502
30,518

0.6

8.6

4.5

30,729

8-70

3.4

4.6

3. 5

3. 8

4.1

5.4

4.9

5.7

4.7

4.0

7.0

7.1

5.4

8.1

2.4

3.7

5.3

2.0

9- 7 0

3.3

4*4

3. 3

3.6

3.9

5. 1

4.6

5.3

4.4

5.5

4.4

4.4

4.8

6.9

2.2

3.1

3.9

1.7

1.3

2-69

3-69

4-69

5-49

6-49

7-69

8-69

9-69

11- 49 1 2 - 4 9

T-7B

2-7 0

3-70

4-7U

5- - T0

4-70

7-70

»-70

30.78IP
30,813*

INITIAL MON T H
..

P - PRELI MINARY

""

........... .
P R E P A R E D BY F E D E R A L K E S H t V f
NOVEMBER 13« 1970

I I W U F

ST7TDUIS

PERSONAL INCOME
COMPOUNDED ANNUAL RATES OF CHANGE

BI L L I O N S OF
DCLLARS
ANNUAL RATES

I N I T I A L MONTH

TERMINAL
MONTH
3- 6 9

4-69

5- 6 9

6-69

7- 6 9

8- 6 9

9-69

1 0 - 6 9 11 - 69

12- 69

1-70

2- 70

3-70

4-70

5-70

6-70

7-70

8-70

9-70
736.3

4- 6 9

7. 3

5- 6 9

7. 5

7. 8

6- 69

8. 0

8.3

8. 9

7—f 9

8 .7

9.2

9.9

8-69

8.9

9.3

74 0. 9

__

9.8

746. 2
752. 7

11 . 0
10. 3

9.6

758. 5
763. 1

9- 6 9

8, 7

9.0

9. 3

9.4

8.6

7.5

10- *9

8.3

8.4

8.6

8.5

7.6

4.7

5.8

1 1- 69

8.0

8. 1

8.2

8.0

7.3

6.5

6.0

6.3

12- 69

7. 8

7.8

7. 9

7.7

7.0

6.4

6.0

6.1

5.9

1-70

7. 6

7.6

7. 6

7.4

6.8

6.2

5.9

5.9

5.7_

5.9

5.9

5 . 8 ____5 . 7

5.9 \

+

6.8

7*8

9.8

2-70

7. 4

7. 4

7. 4

7.2

6.6

6.2 _

3 - 7 0 __

7,6

7.6

7. 6

7.5

7.0

6.7

6.5

6.7

9,5

__9.8

10.5

... _

76 6. 7

------.

_

770.6
774. 3

\

777. 8

5.6

7.0

5

7

%

781.5
78 7. 6

\

. __ .

4-70

9.3

9. 5

9.6

9.7

9.6

lit!

15.3

5-70

7.9

7.9

?_.9

7.8

7. 5

_7.3 _

7.3

7.5.

7.7

8.1

8.7

7.2

7. 1

7.0

6.6

6.3

6.2

6.2

6.2

6.3

6 . 4 .... 6 , 5 . . J5L*.5. - 5 , ?

-IsJL

6 . 4 ___ 6 . 4

6.4

6.5

6 . 7 __ 6 . 8 _ 6 . 1 _ - 1 . 3

2.7

806.0

____

____

___ J W . O ___
7- 7 0
H-70
9-70

7. 2
7. 1
7.2

7. 2
7. 1
7. 1

7. 2
7. 0
7. 1

7. 0
6.9
7.0

6.7

6.5

6.6

6.3 _

6.2

6 . 2 __ 6 . 2 ___6 . 3

6.7

6.5

6.4

6.4

6.6

6.5

6. 5

6. 3

6.0

F 7!

3-69

10-70

lit*.

4-69

5- 6 9

6-69

7-69

8— 69

5.6.

5.6

9-69

10-69

6,5
5.5 _

6.5

6.4
6.6

5.5

5.5

11 - 69 12 - 6 9

1-70

INITIAL

20 ,3_M
9.6

6.5

jl1

9.4

5.8

6 , 9 . . „4*3
5 . 4 __ 4 . 8
2-70

3-70

_XX

x

7 9 9. 7

-9.0

0.1

3.4

4 , 8 _ **6_

7 9 8. 2
7.9

8 0 3. 3

6.3

806.4
811. 9P

7.0

6.6

8.5
2.3

-3.5

8-70

9-70

0.9

3.0

4.3

3.1

4— 70

5-70

6- 70

7-70

1

8 0 9 . 5P

MONTH

P- PRFl IMI NARY




PREPARED BY FEDERAL RESERVE BANK OF S T .
NOVEMEER 16, 1970

LCLIS




7

Retail Sales
Ratio Scale

Ratio Seal«

S o u r c e : U. S. D e p a r t m e n t of C o m m e r c e
Pe r c e n t a ge s ar e a n n u a l r ates of c h a n g e for per i o ds i ndi cat ed.

L at est d a t a pl o t t ed : S e p t e m b e r p r e l i m i n a r y
P r e p a r e d b y F e d e r a l Re ser v e Ba n k of St. Loui s

Personal Income

Sour ce: U.S. D e p a r t me n t of C o m m e r c e
Per c e n t a ge s ar e a n n u a l rates of c h a n g e for per i ods i ndi cat ed.

Lat est d a t a p l o t t e d : O c t o b e r p r e l i m i n a r y
P r e p a r e d b y F e d e r a l Reser v e Ba n k of St. Loui s

8
r.PflSS NATI ONAL PROTOJCT I N CURRENT DOLLARS
C.n*ipnUNnFO ANNUAL RATES OF CHANGE
TF*M| .4*1
•tJÀR Î e '•
»

INITIAL
4-66

1- 6 6

1-66

^-66

4-66

1-67

?-67

3-67

4-67

1-68

2-68

3-68

4-68

1-60

2-69

3-69

4-69

1-70

2-70
7 2 9.5

11.4

{>. 6
3-66

7-*>6

8 T L LIO N S OF
J O L I ARS
ANNUAL R IT E S

QUARTE®

7.8

*. ?

7.4

7 4 3.3
755*9

7. 0

4 - 6 5 ' ' 1— 66*" ? - 66

V - 66

4-66”

1-67

?-òf~

T - 6 7 — 4 - 6 7 -------- i - 6 ' 8

? - 6 § -------- 3 = ^ 8 —

4 —5"8-------- r - 6 ^ — 7 = ^ 9 — 3 -

--------------------- I N I T I A L OUARTÉP------------------------- ;--------------------------------------------

rnuis
___
MOVfMRER 13,
GR^ s s NATI ONAL PRODUCT I N CONSTANT 1958 DOLLARS
CHMPCUNOFO a n n u a l r a t f s o f c h a n g e

1970

"BlULrölWöFDOLLARS
QUARTER
................................... .
"............................... ......... .................
' ......... ...ANNUAL RATES
1-68
2-68
3-68
4-68
1-69
2-69
3-69
4-69
1-70
2-70

INITIAL

TERMI NAL
QUARTER
4—64
1 - 6 6 ___ . . K

n

2-66

s.o

*>-66

3-66

4-*6

i -67

2- 67

3-67

4-67

649*1

.................................- ..........

^ + 4 . 9 %

5.0

3-66

1- 66

655.0
3.4

640.2

3 . 2 SV ^

4 - 6 6 _ _ c ? n __3j»_9___ 4 . 0 ____ 4 . 7 s
_
r
rt
_ 1-67

_ 3.8

_J?.7_

2-67

3.6

2.8

4-65

? . 4____ 1 . 9

1-66

?.5




2.3

3-66

Mr/.
ri
^

448.1

-o .r^V

444*6
6 7 1.4

_

4-59 ~r-7ö

4-66
'H i m i

~

QUARTER

NjnVPMBFO

1*.

I OTrt

sn

LOUTS

9

Dem and and Production
Ratio S c a l e
Trillions of D o lla r s

Q u a r t e rly Totals at A n n u a l Rates
S e a s o n a lly A d ju s t e d

Ratio S c a l e
Trillions o f D o lla rs

1.1

.0
.9

.8

.6

.5

Sou rce: U.S. Department of C o m m e rc e

L l G N P in current d o llars.
[2 G N P in 1 9 5 8 d o lla rs .
P e rc e n ta g e s a r e a n n u a l rates of c h a n g e for p e r io d s in d ic a te d .
Latest d a ta plotted:3rd quarter




Prepared by Federal Reserve Bank of St. Louis

ID
F rm
SALES T N can PENT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
IN ITIA L

terminal

jmrmr

4 - * r>

1-66

“ 4=6?— r - 6 6

2-66

3-66

4-4 4

1-67

2 -6 T

3-67

4-6 7

2-6 *— 3-44

4-4 4

1-6 7

2-4 7

3-4 7

•*=57— T=51— F=5B— 3 -4 8
—

1-68

IM i m L

F m i c r o s OF
DOLLARS
A NN U II RATES

QUARTER
2-68

3-68

4 -6 8

1-69

2 -4 9

3-49

4 - 4 B— 1 -4 9

2 -4 9

4-6 9

H i

1-7 0

2 -7 0

— 1=70

7-70

qU i n T W ---------------------------------- ---------------------------------------------------------------------------------------

P REP A R E D 'BY" T E DERAI RESERVE BANK T J T S T 7 TOUT 3T
NOVENRER 13» 197Q
" F I N A L S A L I S T I N C0N5TANI 17 !>B DULLARS
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
T r“

IN ITIA L

QUARTER

quarT

4 -6 5

1 -6 6

2-46




3-44

4-4 6

1-47

2-47

3-4 7

4-4 7

1-4 8

nu T u r

2-4 8

3 -4 8

4 -4 8

1-49

2 -4 9

3-49

4-4 9

i-7 0

TTLTTOW SUF
DOLLARS
" ANNUAL RATES
2-70

qu i n7g* -

i p m i l I f FHWAL RESERVE BI NI OF T T . LOUI S
llOfCNBCR 13« 19T0

11

Final Sales
Total Spending Less Changes in Business Inventories
Ratio Scale

Quarterly Totals at Annual Rates

Ratio S c a l e

Source-. U.S. Departm ent of C o m m e r c e
P e rc e n ta g e s a r e a n n u a l rates of c h a n g e for p e riod s in d ic a te d .

Latest d a t a plotted:3rd quarter




Prepared by Federal Reserve Bank of St. Louis

12
CONSUMER PRI CE INDEX *
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
MONTH

INITIAL

3- 69

4-69

5-69

6-69

7-69

«-69

9-69

19 5 7 -5 9

MONTH

10- 69 11- 69 12-69

1-70

7-70

3-7 0 4-7 0

5-70

6- 70

7-70

8-70

= 100

9-70

I N I T I A L MONTH
*

NOT SEASONALLY ADJUSTEO

PREPARED BY FEDERAL RESERVE BANK OF S T .
WHOLESALE PRI CES - I NDUST RI AL C O M M O D I T I E S ~ T ' M*CR 2 4 ^ 1970 „
COMPOUNDED ANNUAL RATES OF CHANGE
INITIAL

TERMI NAL
MONTH

4- 69

I. 1
0.7

0.5

7-69

I. 1

l.l

8-69

I ,7

112.1
112.2

l.l

6-69

19 5 7 - 5 9

MONTH

I. 1

5-69

* —69
*
10- 69

2.2
2.8

LOUI S

O. o

117. 2

\

1.9

1.1 2.2
2.2 3 . 3

4.4

2.4

2.7

3.6

4.3

4.3

3.1

3,5

4.3

5* i

5,4

112.4
11 2. 3
______ 113, 7.
11 3 . 8

6,5

3.2

1.6

4.3

4,«

5,1

5.4

4,3

3*1

3.4

3.7

4.3

4.8

4.9

5.0

4.3

4.3

1- 70

3.3

3*6

3.9

4,5

4,9

5,0

5, 1

4.6

4,8

5.4

3.4

3.7

3.9

4,4

4.8

4,8

4,9

4,5

4,6

4.8

4,3

3- 73. _

3.4

*3. 6

3.9

4.3

4.6

4.6

4.6

4.3

4.3

4.3

3.7

3.2

4-70

3. 5

3*7

3.9

4.3

4,5

4,6

4.6

4.3

4^3

4.2

3.9

3,7

4.2

1 1 6. 2
.4,2.

116.6

2.6

1

3.0

12- 69

o

11- 6 9

1 1 4. 2
114.6
115. 1
115.5
_____ 11 5_. 8

5-70

3.5

3.7

3.9

4,3

4.9

4.5

4,5

A.3

4.2

4.2

4,0

3,9

4,2

6-70

?*1

3.5

3.7

4.0

4.2

4.2

4.1

3.8

3.8

3.7

1.4

3.1

3.1

2.9

2.9

7-70

3.3

3.4

3.6

3.9

4,0

8-70

3. 2

3.3

3.5

3.7

3,9

1 0 - 70

2.4

2.1
2,6

4.2

4,9

6.3

6-70

7-70

8-70

3,8

3,8

3*5

3*4

h i

3.0

l.T

1.5

3.3

3.0

2*1... . 2. 7
2.8 2.8

4.2

0

3.7

1 st

3.1

3,6

1-70

2 - TO

3 - TO

4-70

1*1

3,3

3.5

3. 7

3.8

3. 5

3.7

3.8

4,1

4a

4.2

4-69

5-69

4-6«

7-6*

2.1

3.5

3-69

9-70__

1*7

2.5

3.6

3.8

8-69

3.4

3 * 9 _ __ J_»9 .

9- 69 10-69 11-69

12-69

116.7

X

2.3

3.6

3.2

\

1.0
1.6

2,1
2, 1

3.9

4,0

f

2,4

G Z 3
5-70

^ + 3 .5 %

116.9
117. 1

N .

117.4

3,
9,6 \

118.3

9-70

INITIAL MONTH
*

NOT SEASONALLY ADJUSTED




PftfPCftCO 8Y P E O f t A L RESERVE tANft OP S T .

m w m

x i t . a uto

L O U IS

13

Prices
Ratio S c a l e

Ratio Scale

1957-59-100

1957-59=100

Source: U.S. Department of Labor
Percentages are annual rates of change for periods indicated.
Latest data plotted: O ctober




Prepared by Federal Reserve Bank of St. Louis

w
WHOLESALE PRI C E S , ALL COMMODITI ES *
COMPOUNOED ANNUAL RATES OF CHANGE
TERMINAL
MONTH

INITIAL
3- 69

4-69

4-69

6.1
5.5

7.2

7-69

4.4

R- 69

3.7

Q-69

3.4

in-69

7-69

8-69

9-69 10-69

11 - 6 9

1 2 - 69

1-70

2-70

3-70

4-70

5-70

6-70

7-70

8-70

100

9-70

10. 1

6-69

6-69

2.2

* —69
>

5-69

1957 - 5 9 »

MONTH

111.9
1 1 2. 8
4.3

1 1 3. 2

5.1

2.7

113.3

4. 1

2. 1

1.1

1. 1

3.7

2. 1

1.4

1.6

3.6

3.8

2.6

2. 1

2.5

3.2

4.3

11-69

4. 1

4. 3

3.4

3. 2

3.8

4.7

6.0

7.6

I ? —69

4. 1

4. 3

3. 5

3.4

3.9

4.6

5.4

5.9

4.3

I " 70

4.6

4.9

4.3

4.3

4.8

5.6

6.5

7.2

7. 0

9.8

I. 1

113.4

_______

113.6

2. 1

114.0
.. _ ..

114.7
1 1 5. 1
116.0

2-70

4.6

4. 8

4.3

4.3

4. 7

5.4

6.0

6.4

6. 1

7.0

4.2

3-70

4.4

4.6

4.1

4.0

4.4

4.9

5.4

5.6

5.1

5.3

3.1

2.1

4-70

4.0

4.2

3.7

3.6

3.9

4.3

4.6

4,6

4.0

4.0

2. 1

1.0

__

___________ _____

________ ___ ____ _

116.4
116.6
116.6

5-70

3.9

4.0

3.5

3.5

3.7

4.0

4.3

4.2

3.7

3.6

2. 1

1.4

l.o

2.1

6-70

3.8

3.9

3.4

3.4

3,6

3,8

4.0

4.0

3.5

3.3

2.1

1.6

1.4

2.1

2.1

7-70

4.0

4. 1

3,7

3.7

3.9

4.1

4.3

4,4

3.9

3,9

3,0

2.7

2.9

3.8

4.7

7,4

0
0
1
o

0,0

3.5

3.5

3.1

3,0

3,2

3,4

3,5

3,4

2,9

2,7

1. 8

1.4

1,2

1,6

1,4

1,0

11 6. 8

________

117.0
117.7
-5.0

.. _ ..

9-7 0

3.6

3,7

3.3

3,2

3,4

3.6

3.7

3.6

3.3

3.1

2.3

2.1

2.1

2.5

2.6

2.8

0.5

6.3

1 0 - 70

3.4

3.5

3.1

3.0

3.2

3.3

3.4

3.3

3,0

2,8

2. 1

1. 8

1. 8

2. 1

2.1

2. 1

0.3

3.1

0.0

3-69

4-69

5-69

6-69

7-69

8-69

9- 69 10- 69 11-69

12-69

1-7 0

2-70

3-70

4-70

5-70

6-70

7-70

8- 70

11 7 . 2

9-70

INITIAL
*

117.8
117. 8

MONTH

NOT SEASONALLY ¿
ADJUSTED

PREPARED BY FEDERAL RESERVE
NOVEMBER 17, 1970
WHOLESALE PRICES - FARM PRODUCTS, ANO PROCESSED FOODS AND FFFDS*
COMPOUNDED ANNUAL RATES OF CHANGE
INITIAL

TERMINAL
MONTH
3-69
4-69

19.9

5-69

6-69

7-69

8-69

9- 69 10-69

____ 1957- •59 »

MONTH

1 1 - 69 1 2 - 6 9

1-70

3-70

2-70

4-70

5-70

6-70

7-70

110.9
40. 7

114. 1

. __ ____

115.5

6-69

18.5

27.6

15.8

7-69

13.6

17.7

7.6

0.0

8-69

8.7

10 . 3

1.8

-4.6

-9.0

9-69

6.6

7.5

0.5

-4.1

-6.1

-3.1

10- 69

5.6

6.2

0.4

-3.1

-4. t

-1.6

0.0

0.5

3.9

7.6

0.4

115.5

.....
------

---------

-

- - - ___

. ...

______ ........ ......

15,7

U 4 .3

7.5

12 - 6 9

6.9

7.5

3.5

1.6

1.9

4,8

4,0

4.7

7,7

10*4

14,4

13.7

20*1_____

1 1 * J ___ 5*2 -------------- ---------------_____ _______ _______ ___ ____

7.6 _11*5_

------------

- -- _____-

1-70

8.2

8.9

2-70

7.9

8.5

5.4

4.2

4*8

7, 3

9,5

12*0

10,8

3.8

4.3

6.4

8*0

9.7

2 a2

2*4

4.0_

3-70

7.3

7. B

5,7

6.Q

3.4

6-70

5*a

4.1

_2*1

1 1 8. 2

......

118.8
-11.5

l i l

>3.0

-1*1

-8.8

U 7.6
-4.0

5.1
4.9

2*5

1.4

5.1

2.7

1.7

1.9

3.0

3.8

4*2.

2*2.

1 . Î . -1 .4 . -3.0 - -4.3 _-0.5

6.0

3.9

3.0

3.3

4.5

5.3

5*9

4,7

1*1 _

2.1

1,9

mI

____1*3

1 * 5 ___ft*l__ *1*7

-2,8

-3*6

2 . 9 . __2*4 ....0 . 4

z S l,l .

t

0.3

-0.4

-1*3

9- 69 10- 69 11-69

12-69

1-70

7-70

5.8

8-70

4.0

4. 1

2.0

1*1

1.2

2,1

2*6

9-70

4.6

4.B

2.9

2.1

2.2

1*1

3 . 7 .... _4t.Q_

10-70

3.0

3.0

1.2

0.3

0.3

1,0

1.4

3-69

4- 69

5-69

6-69

7-69

8-69

1*5

118.7

___ .

....- l . Q

5 * 1 ... 4 . 0

1*4

L.6

1 1 5. 7

____

116.4

. .8.1

4-70

____ ___

7.5

5.4

9.0

114.6

.

..

6.9

2.«

.

11 4 . 3
________

1 1- 6 9

5-70

100

9-70

8-70

2.2

5-69

4-69

BANK OF ST . L OUI S

-JL

U 7.0
5.3

5*9— 11*4
-1*5_

0.0

1.8

3,9

-3*4

-4.0 . -2,7

2-70

3-70

Qi 5

4-70

117.5
20.0

119,3

-2*5 -20.8
3*4

117.0

-4.0

16,5

-2*0

-3*8 - 1 0 , 6

-5.0

-22.6

5-70

6-70

8-70

9-70

7- 70

1 1 8. 5
116.0

I N I T I A L NONTH
*

NOT SEASONALLY ADJ USTED




PREPARED BY F E D ftA L KESEKVE
NOVEWBf* 1 7 , I « T O

BANK OF S T .

LO ÏIIS

15

General Price Index*
Ratio Seal«
1958=100

1962

Ratio Scale
1958=100

1963

1964

1965

1966

1967

*As us ed in N a t i o n a l I n c o me A c c o u n t s

1968

1969

1970

Sou r c e : U. S. D e p a r t m e n t of C o m m e r c e

P e r c e n t a g e s a r e a n n u a l rates of c h a n g e for p e r i o d s i n d i c a t e d .

Lat est d a t a pl ot t ed: 3 r d q u a r t e r
P r e p a r e d b y F e d e r a l Re s er v e Ba n k of St. Loui s

I M P L I C I T P T T T E DEFLATOfCFOR GROSS NATIONAL PRODUCT
__________________________________________ COMPOUNOEQ ANNUAL RATES OF CHANGE____________________________________________________________________
TERMINAL

___________ __________ I N I T I A L

Q U A R T E R __________________ _________________________________________________ 1958 * 100

1-66

3-66

2-66

4-66

1 -6 7

2-6 7

1-<S6

uv

2- 6 6

3.6

4 .0 s\

3-66

3.6

3.8

3.5

3.6

3 .4

3.4

3 .4

3.2

3 .0

3. 1

2.9

2.7

2 .4

3 .3

3.2

3.1

3 .0

3.1

3.5

3.5

3.4

3 .4

3 .5

3 .7

4 .5

2 -6 9

3-69

4-6 9

1 -7 0

2 -7 0

4 .2 s

4-67

1 -6 9

2.1

3- 67

1 3.1 1
..
I ■ 1
3.3

4-6 8

2.8

2-67

3-6 8

3 ^ 2 \

1-6 7

2! - 6 8

1 -6 8

3.6

4-66

3-6 7

1

± -b5

O'

01J ART FR

1 1 2 .4
1 1 3 .5

-l-Q 1° Z
•W< 1 s w

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

+4 2%

4 .8

1

1 1 9 .4

fV

1 2 0 .4

3.4

1-6 8

3.5

3.5

3.4

3 .4

3. 5

3 .6

6 .1

2- 68

3.6

3.6

3.5

3. 5

3 .6

3.8

4 .2

4.2

3.9

4 . 4 Ss

3- 68

3.6

3 .6

3.6

3 .6

3 .7

3.8

4.2

4 .2

3.9

4 .2

4-6 8

3.7

3.7

3.7

3 .7

3.8

3 .9

4.2

4 .1

4.3

4.3

♦> Vv

4 .0

4.3

4.3

4.2

4.4

4 .4

4.6

» 4.6

1 2 1 .7
122.9

4.0

1 2 4 .3

1- 69

3.8

3.8

3.8

3 .8

3.9

2-69

3.8

3 .9

3 .9

3.9

4 .0

4.1

4.4

4 .4

4.3

4.5

4 .5

4.7

4.7

4.9

4 .6

4.5

5.0

5 .1

5 .3

5 .0

1 2 5 .7

3- 6 9

4.0

4.0

4 .0

4. 1

4. 1

4.3

4 .5

4 .7

4.8

4-69

4.0

4.1

4. 1

4 .1

4 .2

4.3

4 .5

4 .6

4 .5

4 .7

4 .8

4 .9

1- 70

4.2

4.2

4.2

4 .3

4 .4

4.5

4 .7

4 .8

4.8

4 .9

5.0

5.2

2- 7 0

4.2

4.2

4.2

4.3

4 .4

4 .5

4 .7

4 .7

4 .7

4.9

4 .9

5.1

3-70

4.2

4.2

4.3

4.3

4 .4

4 .5

4.7

4 .7

4.7

4 .8

4 .9

5 .0

4-65

1-66

2 -66

3-6 6

4-6 6

1-67

2 -6 7

3-6 7

4-67

1-68

2- 6 8

3-6 8




i n i t i a l

s+5.3%

1 2 7 .2
129.0

5.1

5.3

4 .7

5.5
F T I
Il ..1 -1 1
.1
5 .1
5.2

5 .7

5.7

130.5

5.3

5 .2

5.4

5.1

5.1

5 .2

5.0

5.1

4-6 8

1-69

2 -6 9

3-69

4 -6 9

6>y^+4T
4%

1 3 2 .6
134.0

1 4 .4 1 4 . 6 Ì

1-7 0

135.5

2-7 0

ö ö iir r a r

PWFPAREÜ BY FEDERAL 1E5FKVE M N K "D F S T . LÖUT5
NOVEMBER 13* 1970

Inventories Compared With Monthly Sales*

* Ratios b a s e d on s e a s o n a l l y a d j u s t e d d a t a .

Source-. U.S. D e pa r t m e n t of C o m m e r c e

S h a d e d a r e a s represent periods of business recessions as defined by the Na ti ona l Bureau of Economic Research.
Latest d a t a plotted: S e p t e m b e r




P r e p a r e d b y F e d e r a l R e s e rv e B a n k of St. Louis

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