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DRTIOIIRL E c o n omi c TREI1DS
PREPARED

M O N TH E N D IN G :




BY

October 31, 1973

FEDERAL

RESERVE

BANK

OF

ST. LO UIS

RELEASED-.

November 21, 1973

Revised data Indicate that total spending on goods and
services rose at a 10.6 percent annual rate from the second to
the third quarter, and real output grew at a 3.4 percent rate.
These revisions show little change from the rates reported last
month. The rate of Increase of the GNP price deflator In the
third quarter was revised upward from 6.7 percent to 7 percent.
Nominal GNP or total spending has grown at an average
annual rate of 10.5 percent since fourth quarter 1970. Until
first quarter 1973, most of the increase in total spending re­
flected rapid growth in real output; however, output growth has
decelerated in recent quarters, and price increases have accel­
erated. The GNP deflator increased at a 6.8 percent rate since
fourth quarter 1972, double the rate of increase in the previous
two years.
The rate of growth of industrial production has also de­
celerated during 1973. Although rising at a fairly rapid rate in
the past two months after declining in August, the growth of in­
dustrial production slowed to a 5.4 percent rate in the eight
months ending October. In the previous thirteen months, industrial
production had risen at a 12 percent rate.
In contrast to the slower growth in output this year,
employment has been increasing at an accelerated rate. Total
civilian employment has risen at an average annual rate of 3.7
percent since mid-1971, but has grown at a 4.2 percent rate since
December 1972. Reflecting the large gains in total civilian em­
ployment, the unemployment rate of all civilian workers was reported
at 4.5 percent for October. The unemployment rate has declined
steadily since 1971 when the rate averaged almost 6 percent.
Wholesale prices of farm products and processed foods
and feeds declined in September and October, offsetting about
one-half of the explosive increase recorded in August. The in­
crease in wholesale prices of industrial commodities, however,
has accelerated in recent months. The net effect of the oppos­
ing movements of these two components has been a decline in
wholesale prices of all commodities in the last two months. For
the year ending October 1973, wholesale prices of all commodities
increased 16 percent, wholesale prices of industrial commodities
rose 9.1 percent, and wholesale prices of farm products and
processed foods and feeds increased 35 percent. Consumer prices
increased sharply in October and have risen at an 8.9 percent
rate since December 1972.

2

INDUSTRIAL PRODUCTION
C O M P O U N D E D A N N U A L R A T E S OF C H A N G E
T E R M I N A L ________________________________________________________________________ I N ITIAL

M O N T H ___________________________________________________________________1 9 6 7 » 1 00

MONTH
3- 7 2

4-72

5-7 2

6-72

7-72

8-7 2

9-72 1 0 - 7 2

11 - 7 2 12 - 7 2

1- 7 3

2-73

3-73

4-73

5-73

6-73

7- 7 3

8-73

9-73
113 . 2

4-72

18.6

5-72

12.4

6.5

6-72

10.4

6.5

6.5

7-72

9. 7

6. 9

7.1

7.6

8-7 2

10.4

8.4

9.1

10.4

113.8
114.4

3-73

11.0 9 . 6 10.4 11.7
12.0 1 0 . 9 11.8 13.1
11.8 10.8 11.6 12.6
10.6 11.2 12.1
11.5
11. 5
10. 7
11.3
12.0
11.6 10.9 1 1 . 4 12.0
10.8 10.2 10.5 11.0

4-73

10.3

9-72
10-72
11-72
12-72
1-73
2-73

9. 6

5 -7 3

10.1

9.5

6-73

9.9

9.3

7 -73

10.0

9.4

8- 7 3

9.2

8.7

9-73

9.1

8.5

10-73

8.9

8.4

3-72

4-72

115.1
116.3

13.3
13.8

117.6

14.3

119.2

15.0

15.9

17.6

13 . 9

14.1

14.0

10.5

13.0

12.9

12.4

10.0

12.6 12.2 1 0 . 5 1 0 . 4 1 1 . 5
12.7
12.6 12.2 1 0 . 9 11.1 12.0 1 2 . 4 |
1
11.4
11.2 10.6 9 . 3 9 . 0 8 .9 T .. ’3 . 0 \
9.9
10.6 10.2 9. 7 8.4 8.0 7 . 6 6. 4 3 .5 4 . 0
10.3
9.8
10.1 10.3 10.0 9 . 5 8 . 3 8.0 7 .7 6.8 5 . 0 6.0 8 .0 % s \ i 5 . 4 %
10.0 9.7 9.2 8.2 7.8 7.6 6 . 8 5.4 6 * 3 7 , 5 6 . 9 \
9.5
9.8
9.6
9. 9
10.1 9.8 9.4 8 . 5 8.2 8.1 7.5 6 . 5 7 .5 8.6 9 . 0 1 1.0
8.8 9. 0 9.1 8*8 8.3 7 . 4 7 .0 6.8 6*1 5.1 5 . 5 5 . 9 5 . 2 4 . 4
8.6 8.8 8.9 8.5 8.1 7 . 3 6 .9 6 . 7 6.1 5 . 2 5.6 5 . 9 5 . 4 4 . 9
8.5
8.7
8.7
8.4
8.0 7 .2 6 . 9 6 . 7 6.2 5 . 4 5 .7 6.1 5 . 7 5.3

5-72

6-72

120.2
121.1
122.2

9.4

12 . 7

7-72

8-72

9- 7 2 1 0 - 7 2 1 1 - 7 2 1 2 - 7 2

1-73

2-73

3-73

4-73

5— 73

6-73

123.4
123.7
124.1
124.9
125.6

126*7
-1.9

126.5

1.9

5.8

3.5

6.3

6.8

7-73

8-73

9-73

\

1 2 7 . IP
127.8P

INITIAL M O N T H
P- P R E L I M I N A R Y




"PREPARED
NOVEMBER

BY F E D E R A L
19. 1 9 7 3

RESERVE

SANK OF

ST.

LÔUtS

3

INDUSTRIAL
RATIO

PRODUCTION
RATIO

SCALE
SEASONALLY

1 9 6 7 - 1 0 0

1965

966

967

1968

ADJUSTED

1969

PER CENTAGES ARE ANNUAL R ATES OF CHANGE FOR P E R I O D S
L A T E S T DATA P L O T T E D *




1970

SCALE

1 9 6 7 - 1 0 0

1971

1972

1973

INDICATED.

OCTOBER P R E L I M I N A R Y
PREPARED BY F ED ERA L RE SE RV E BANK OF S T .

LOUIS

4
TOTAL CIVILIAN EMPLOYMENT
C O M P O U N D E D A N N U A L R A T E S OF C H A N G E
________I N I T I A L M O N T H
____________________________________
T E R M I N A L _____________ _______________________________________ ;
MONTH
3-72
4-72
5-72
6 -7 2
4-73
5-73
6-73
7-72
8-72
9-72 10-72 11-72 12-72
2-73
3-73
1-73
4-72

-0-1

5-72

1.8

3.7

6-72

2.7

4.1

4.4

7-72

2. 1

2.9

2.4

0.4

7-73

_______________ T H O U S A NDS
OF P E R S O N S
8-73
9-73
81,209
81,458
81,752

81,782

8-72

2.5

3.2

3.0

2.3

4.2

9-/2

2.6

3.1

3.0

2.5

3.5

2.9

82,061
82,256

10-72

2.5

2.9

2.8

2.4

3.0

2.5

2.1

11-72

2.4

2.8

2.6

2.3

2.8

2. 3

2.0

1.9

12-72

2.6

2.9

2.8

2.5

3.0

2.7

2.6

2.8

1-73

2.0

2.2

2.0

1.7

1.9

1.5

1.1

0.8

0.2

-3.2

2-73

2.6

2.8

2. 7

2.5

2.8

2.6

2.6

2.7

2.9

2.5

8.6

3-73

3.3

3.6

3.6

3.5

3.9

3.8

4.0

4.4

5 .0

5.5

10.1

4-73

3.1

3.3

3 .3

3.2

3. 5

3.4

3.5

3.7

4.1

4.2

6.8

5.8

0.4

5-73

3. 0

3.2

3.2

3.0

3.3

3.2

3.2

3.4

3.7

3.6

5.4

4.4

1.0

1.5

6-73

3.4

3.6

3.6

3.6

3.9

3. 8

3.9

4.2

4.5

4.6

6.3

5.7

3.8

5.5

9.7

7-73

3.1

3.3

3.3

3. 2

3. 5

3.4

3.4

3.6

3 .6

3.8

5.1

4.3

2 .6

3.4

4.3

-0.8

8-73

2.8

3.0

2.9

2.8

3.0

2. 9

2.9

3.0

3.1

3.0

3 .9

3.2

1.5

1.9

2.0

-1.7

-2.5

9-73

3.2

3.4

3.4

3.3

3.5

3.4

3.5

3.6

3.8

3.8

4.7

4.2

3.0

3.5

4.0

2.2

3 .7

10.3

10-73

i. 4

3.6

3.6

3. 6

3.8

3.8

3.9

4.0

4.2

4.2

5.1

4.7

3.7

4.3

4.8

3.7

5.2

9.3

8.3

3-72

4-72

5-72

6-72

7-72

8-7 2

9-72

10-72 11-72

12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73

82,397
82,525
82,780

3.8

INITIAL

82,555
83,127
83,889

11.6

83,917
84,024
8 4 , 6 74
84,614
84,434
85,127
85,695

month

P R E P A R E D BY F E D E R A L R E S E R V E
N O V E M B E R 2, 1 9 7 3

B A N K OF ST. L O U I S

PAYROLL EMPLOYMENT
C Q M P 0 U N Q E D A N N U A L R A T E S OF C H A N G E
TERMINAL
MONTH

THOUSANDS
OF P E R S O N S

INITIAL MONTH
3-72

4-72

5-72

6-72

7-72

8-72

9-72 10-72 11-72

12-72

1 -7*

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73

3.2

72,224

5-72

4.2

5.3

72,534

6-72

3.8

4. 1

2. 9

7-72

2.8

2.6

1.3

-0.2

8-72

3.3

3.3

2.7

2.6

5. 4

9-72

3.5

3.5

3.1

3.1

4.8

10-72

3.7

3.8

3.5

3.7

5.0

4.8

5.3

11-72

3.8

3.9

3.6

3.8

4.8

4.6

4.7

4. 2

12-72

3.7

3.7

3.5

3. 6

4.4

4.1

4.1

3.5

1-73

3.7

3.8

3.6

3.7

4.3

4.1

4.1

3. 7

3.4

4.1

2-73

4. 1

4.2

4. 0

4.2

4.8

4.7

4.8

4.7

4.9

5.9

7.7

4.0

4. 1

4.0

4.1

4. 6

4.5

4.5

4.4

4.4

5.0

5.5

3.2

4-72

73,016
73,268

4.2

73,584
73,835
2 .7

74,002
74,252
74,715
74,914

4-73

3.9

4.Ü

3.9

4.0

4.4

4.3

4.3

4.2

4. 2

4.5

4. 7

3.2

3.1

5-73

3.9

4.Ü

3.8

3.9

4.4

4.2

4. 2

4.1

4.1

4.3

4.4

3. 3

3.3

3.5

6-73

3. 9

3.9

3.-8

3.9

4. 3

4.1

4,1

4.0

4.0

4,2

4.2

3.3

3 .3

3.4

3.3

7-73

3.6

3. 6

3.5

3.5

3. 9

3.7

3.7

3.5

3.4

3 .5

3.4

2.5

2.3

2.1

1.4

-0.5

3-73

3.6

3.6

3.5

3.6

3.9

3.7

3.7

3.5

3.5

3.6

3.5

2.8

2.7

2.6

2.3

1.8

4.1

9-73

3.6

3.6

3.5

3.6

3.9

3.7

3.7

3.5

3 .5

3.6

3.5

2.9

2.8

2.8

2.6

2. 4

3.9

3.6

o
i
UJ

3-73

72,705
72,694

3.7

3.7

3.6

3.7

3.9

3.8

3.8

3.7

3.6

3.7

3.7

3.2

3 .1

3.1

3 .1

3.0

4.2

4.3

4.9

3-72

4-72

5-72

6-72

7-72

8-72

9- 7 2 1 0 - 7 2

11-72

12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73

INITIAL
P-

75,105
75,321
75,526
75,493
75,747
7 5 , 972P
76,277P

MONTH

PRELIMINARY




PR EPARED
NOV EMtitR

BY FEDERAL

2»

iS» 7 3

RESERVE

BANK OF

ST.

L OU IS

5

EMPLOYMENT
RATI O

SCALE

MILLIONS

RATIO

OF P E R S O N S

1965

1966

1967

seasonally

1968

MILLIONS

adjusted

1969

1970

197 1

1972

SCAL E

OF P E RS ONS

1973

SOURCES U . S . D E P A R T M E N T OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P ER I ODS
LATEST DATA PLOTTEDs




INDICATED.

OCTOBER P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF S T .

LOUIS

6

UNEMPLOYMENT

1965

1966

1967

1968

1969

RATES*

1970

1971
SOURCE»

«PERCENT

OF C I V I L I A N LABOR FORCE

L A TES T DATA PL O T T E D :




U .S .

1972

1973

DEPARTMENT OF LABOR

I N GROUP

OCTOBER
PREPARED BY FEDEKAt. RESERVE BANK OF S T .

LOUIS

I N V E N T O R I E S COMPARED WI TH MONTHLY S A L E S *
MANUFACTURING

AND

TRADE

I .72

72

68

64

I .60

60

56

52

] . 48

48

44

40

1 . 36

36
1961
# RAT I OS BA S E D

1962

1963

ON S E A S O N A L L Y

1964

1965

ADJUSTED

DATA.

1

1967

1

1
SOURCE:

U . S . DEPARTMENT

1972
OF

1973

COMMERCE

SHA DE D A R E A S R E P R E S E N T P E R I O D S OF B U S I N E S S R E C E S S I O N S
AS D E F I N E D BY THE N A T I O N A L B U R E A U OF E C O N O M I C R E S E A R C H .
LATEST




DAT A

PLOTTED:

SEPTEMBER

PRELIMINARY
PREPARED

BY F E D E R A L

RESERVE

BANK

OF

ST.

LOUIS

8
R ETAIL SALES
COMPOUNDED

TERMINAL
MONTH

ANNUAL

RATES

INITIAL

ir

5-72

72

4-72

7- /2

8-72

CHANGE

MONTH

9-72 10-72 11-72 12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

M I L L I O N S OF
OOLLARS
9-73

-*>.0

b-7 2

6-72

OF

11.9 _±L.d...

37*141

4.1

9.0

7-72

7.i>

12.0

3.3

18.3

8- 7 2

10. 3

14. 3

9.2

20.2

.2 2 . 1

9.9

5. 0

IO . A

6.7

-6.8

12.8

16.1

13.2

19.a

20 . 3

19.4

11-72

9.5

11.7

Ü.6

12.ü

11. 4

8.1

12- 7 2

11.0

13.2

13.7

14 . 6

13.9

11.9

18.9

4,9

24.1

1-73

14.2

16.0

14.7

1 8. 8

18 . 8

18. 2

25.4

17.4

35.2

47.2

2-73

14.4

.1 0 . 6

ip . û

18.5

18.6

18.0

23.7

17.3

28.8

31.2

17.0

3-7 3

13.2

.
JLIfi

.l*.ö

19.1

19.2

18.a

23.7

27.5

28.6

20.3

4-73

11.9

1 3 • * _L1,.9
5

I«.*

14.C

13.0

16.1

10.9

16.0

14.1

4.8

5-73

12.3

13. Ü

12.4

14.6

14 . 3

13.4

16.3

11.8

16.2

14.7

7.8

4.9

-3.4

17.3

41.735

U»

6-72

36.296

1Ü. 3

10.0

11.8

11.3

10.2

12.3

8 .1

11.2

9.1

2.8

-0.5

-7.4

-0.1 -14.9

41.179

9 -7 2

1

O

f1

0

-9.8

36.822
37.342
37.969
37.746

52.9

39.106

16.4 - U . 4

38.713
39.417
40.707
41.242
2 3 . 7 f " \

41.979

-0.8 -20.5

41.185

7-73

12.8

14.0

12. 9

14.b

14.6

13.9

16.2

12. 7

16.2

15.1

10.4

9.2

5.8

16.4

16. C

8- 7 3

11. 2

12. j

11.1

12.8

12.4

11.6

13.4

10.1

12.8

11.4

7.1

5.5

2.2

8.8

6.2

18.5 - 1 1 . 0 \

9-73

10.7

11.7

10.6

12. 1

11.7

1C.9

12.5

9.4

11. Ô

10.5

6.6

5.2

2.4

7.7

5.4

13.2

U-7 3

11.o

12.0

11 . 5

13.0

U.7

12.0

13.6

10.9

13.1

12.1

3 -72

h-

5- 7 2

to-72

7-72

8-72

9-72

10-72

11-72

12-72

72

INITIAL

8.8

7.8

1-73

2-73

4-73

X

42.778

-4.2

42.363
3.2

X

42t474P

9.5

16.7

5.5

14.8

V
27.8

5-73

6-73

7-73

8-73

9-73

1 5.7 1 10.8

3-73

58.0

43.351E

MONTH

P- P R FLIHlNArlY

Ü- E » iMATt
S
P__

PREPARED
NOVEMBER
COMPOUNDED

RESERVE

BANK OF

ST.

LOUIS

PERSONAL INCOME
ANNUAL RATES O F X H A N S E
B I L L I O N S OF
OOlLARS
ANNUAL RATES

MONTH
3-72
4-72

BY FEDERAL
1 3* 1 9 7 3

4-72

5-72

6-72

7-72

8-72

9-72

10-72

11-72

12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73
923.6

7,6

927.7

5-72

6.5

5.5

6-72

4.0

2.2

-0.9

7-72

5.7

5.1

4.9

11.1

8-72

7.0

6.9

7.4

11.8

12.5

927.0
935.2
944.4
951.3

9-72

7.4

7.3

7.8

10.9

10.8

9.1

10-72

9.3

9.6

10.5

13.5

14.3

15.2

21.7

11-72

9.9

10.2

11.0

13.6

14.2

14.8

17.8

14.0

12-72

9.6

9.9

10.6

12.6

12.9

13.0

14.3

10.8

7.6

1-73

9.4

9.Ò

10.1

11.8

11.9

11.7

12.4

9.5

7.3

6.9

2-73

9.5

9.7

10.1

11.6

11.7

11.5

12.0

9.7

8.4

8.7

967.0
977.6
983.6
989.1
10.5

997.4
1.003*3

3-73

9.3

9.4

9.9

11.1

11.1

10.9

11.2

9.2

8.1

8.3

8.9

7.3

4-73

9.4

9.5

9.9

11.0

11.0

10.9

11.1

9.4

8.6

8.8

9.4

8*9

10.4

10.6

10.8

9.3

8.6

8.8

9.2

8.8

9.6

8.8

9.3

9.0

9.6

9.2

9.7

1.011.6
1.018*7

5-73

9.3

9.5

9.8

10.8

10.8

6-73

9.4

9.5

9.8

10.7

10.7

10.5

10.7

9.4

8.7

8.9

7-73

9.5

9.6

9.9_

10.8

10.7

10.6

10.7

9.6

9.0

9.2

9.6

9.4

10.0

9.8

10.4

11.0

11.0

11.0

10.0

9.6

9.9

10.3

10.3

10.9

11.0

11.7

12.7

10.2

10.9

11.1

1.026.6
1.035*6
1.047*3

14.4 _

8-73

9.7

9.9

9-73

10.0

10.1

10.4

11.2

11.2

11.1

11.3

10.4

10.0

10.3

10.7

10.7

11.3

11.5

12.2

13.0

14.0

13.6

10-73

10. 0

10.1

10.4

11.2

11.2

11.1

11.2

10.4

10.1

10.3

10.7

10.8

11.3

11.4

11.9

12.5

13.0

12.3

10.9

3-72

4-72

5-72

6-72

7-72

8-72

9-72

1 0 - 7 2 11-72

12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73

INITIAL

1 * 0 5 8 . 5 ....
1.067.7P

MONTH

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




PREPARED BY FEDERAL RESERVE
NOVEMBER 16. 1973

BANK OF S T . LOUIS




RETAIL
RATIO

SALES

S CALE

1965

RATIO

1966

1967

1968

1969

1970
SOURCE*

PE R C E N T A B E S
LATEST

ARE

ANNUAL

DATA P L O T T E D i

R A T ES

OF CHANOE FOR PE R IO D S

S E P TEM B ER

P R E L IM IN A R Y ,

D EPA R TM EN T

PERSONAL
OF

BY FEDERAL

COMMERCE

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

L O U IS

INCOME

SEASONALLY ADJUSTED

DOLLARS

1973
OF

I N D IC A T E D .

M O N T H L Y T OTALS AT A N N U A L R A T E S

SCALE

TRILLIONS

1972

U .S .

OCTOBER ADVANCE E S T IM A T E
PR E P A R E D

RATIO

1971

S CALE

RATIO
TRILLIONS

OF

SCALE

DOLLARS

0.

0.

0.6

0.

0.5

1965

1966

1967

1968

1969

1970
S O U R C Ei

P E R C E N TA G ES

ARE

LATEST

PLO TTED :

DATA

ANNUAL

R A T ES

OCTOBER

OF

CHANCE FOR P E R IO D S

1971
U .S .

1972
D EPA R TM EN T

1973
OF

COMMERCE

IN O IC A T E O .

PR E L IM IN A R Y

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

RESERVE

B A N K OF S T .

LO U IS

10
GROSS NATIONAL PROOUCT IN CURRENT OGLLARS
_ _ COMPOUNDED ANNUAL RATES OP CHANGE_____
_

B I L L I O N S OF
PQL. ARS
I
ANNUAL RATES

INITIAL flUARTER

QUARTER
-JferAfl

_.l-69
2-69

1-69

2 - 6 9 ---3 - 6 9

4 - 6 9 ---L - 7 H

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

6-72

1-73

2-73

JU8
_________ ; _____ _______________________________________________
_
7 . 6 7,5_

4-63

1-69

2-69

3-69

4-69

1-70

2-70

3-70

4-70

i-7l

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

INITIAL QUARTER

P R E P A R E O BY F EOERAL RESE R V E

B A N K O F ST. L O U I S

G R O S S N A T I O N A L P R O O U C T IN C O N S T A N T 1 9 5 8 D O L L A R S
C O M P O U N D E D A N NUAL R A TES OF C H A N G E
B I L L I O N S OF
DOLLARS
ANNUAL RATES

INITIAL Q U A RTER

T F R M INAL
QUARTER
4-63

1-69

2-69

3-69

4-69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73
722.4

1-69

3.3

2-69

2.6

1.9

3-69

2.4

1. 9

725.8
729.2

1.9

725.1

4-69
< - U %

1-70

722.1

-0.5

0.4

0.2

-0.3

0.4

1.7

0.2

-0.2

-a.6

-l.l

-0.8

-0.4

-0.8
2.4

2.2

727.2
719.3

-*.3S
X
9.1

735.1

1-71

1.1

0.9

in
o

1

?

0
1

!
!
_i

-0.0
C.9

2-70
3-70

721.2

l.l

1.9

2-71

1.3

V*i

1.0

0.9

1.4

2.1

2.5

2.4

6.0

2.9

3 -7 1

1.5

1.3

1.3

1.2

1.7

.2 . 4 .

2.7

2.7

5 .1

3.2

3.6 \ + 6 . 3 %

4-71

1.9

1.3

1.8

1. 8

2.3

3. 0

3.4

3.5

5.5

4.4

5.1

6.6

7 4 0 . 4 _____
746.9
759.0
768.0

1-72

2. 2

2.1

2.1

2.1

2.6

3. 2

3.6

3.7

5.4

4« 5

5.0

5.7

4.8

2-72

2. 7

2.6

2.7

2.7

3 .3

3.9

4.3

4.5

6.1

5.5

6.1

7.0

7.1

9.5

3-72

2.9

2.8

2 .9

3.0

3.5

4.1

4. 5

4.7

6.0

5.5

6.0

6.7

6.7

7.6

5.8

4-72

3.2

3. 2.

3.3

3.4

3.9

4.4

5.0

5.9

6.4

6.9

7.0

7.8

6.9

8.1

1-73

3.5

3.5

3. 6

3.7

4.2

4.8

6.3Ï
L _ J
6.5

6.2

6.7

7.2

7.3

8.0

7.5

8.4

5. 2

5.4

785.6
796.7
812.3

1
8.6

s<M.8%

829.3

2-73

3.4

3.4

3.5

3.7

4.1

4. 6

4.9

5 .1

6 .1

5.8

6.2

6.5

6.5

6.8

6.2

6.3

5 .5

2 . 4 ^ ^

3- 7 3

3.«t

3. 4

3.5

3.6

4.0

4.5

4.8

5.0

5.9

5.5

5.8.

6.1

6. 1

6.3

5.6

5.6

4.8

2.9

4-68

1-69

2-69

3-69

4-69

1-70

2-70

3-70

4-70

1-71

3-71

4-71

1- 7 2

2-72

3-72

4-72

1-73




INITIAI

2-71

3.4 1

834.3
841.3

2-73

QUARTER

PREPAREO BY FEOERAL RESERVE
NOVEMBER 16« 1973

BANK OF ST.

LOUIS

11

D E MA N D
RATIO

SCALE

1965
U.6NP

QUARTERLY

1966

1967

1968

AND

PRODUCTION

TOTALS

AT

1969

I N CURRENT DOLLARS.

ANNUAL

RATIO

RATES

1970

1971

SOURCE* U . S .

1972

SCALE

1973

DEPARTMENT OF COMMERCE

I2JSNP I N 1 9 5 8 O O l l A R S .
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E RI ODS
L A TES T DATA PLOTTED«




INDICATED.

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

LOUIS

12
C O M P E N S A T I O N PER M A N - H O U R * TOTAL P R I V A T E E C O N O M Y
__________ C O M P Q U N D F D A N N U A L R A T E S OF C H A N G E
TERMINAL
QUARTER
4-68

1-69

1-69
2-69

7.0
7.0

7.6

. 4-69

7.8

8.4

3-69

4-69

1-7 0

2-70

3-70

4-70

1-7 1

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

8.1

<-69

2-69

5.9

112.5
1 1 4 . 7 _________
7.2
8.5

9.9

6.6 6.8
6.8 7. 0

6.3

5. 9

2.0

"a
1
O

116.7

6.7

6.6

4.9

7.9

3-70

r.i

7.3

7.1

7.1

6.2

8.1

P.t*. .. 6 » ‘9
.

6 .7

6.7

5. 9

7.2

8.8
6.8

1 -71

6.9

7.0

6.9

6.9

6.2

7.3

7.1

6.3

7.8

2-71

7 .0

7.1

7.C

6.9

6.4

7. 3

7.2

6.7

7 .6

7.3

.7*0.

7.0

6.6

7.4

7.3

6.9

7.6

7.4

7.5

6.8

6.7

6. 3

7. 0

6.8

6.4

6.8

6.5

6.0

4.6

7.3

7. 4

7.1

7.7

7. 7

7.5

8 .1

8.1

8.4

8.9

13.4

7.2

7.C

7.5

7.5

7.3

7.7

7.7

7 .8

7.9

9.5

6.8
6.8

7.3

7.2

7. 0

7.3

7.2

7.2

7.1

8.0

5.4

4.9

7.3

7.2

7.C

7.3

7.3

7.2

7.2

7 .8

6.1

6.2

7 .5

_ 7.C

7.5

7.4

7.3

7.5

7.5

7.5

7.5

8.1

6.9

7.2

8.4

1 -70

4-70

...

3-71
f
—
1
-T

i

J . O ... ..
.

6.8

__l,i7_2 ..

7 .3

6.9

7.2

1* 1

7.0

7.1

7.0

7. Ü

_ ! d L .. .Jjti.

_ 3-72

.. 7.. 3
.

. 7*i

l±Z.

L-73

119.5

7.3

7.2

.7*2

120.1
122.4
_ 125.0
4.9

126.5
128.9
n I. ?
13 3.6
135.1
139.4
5.9

141.4
143.1

-2-73

7.2

7. 3

7.2

7.?

7.C

_ 7.4

7.4

7.2

7.5

7.4

7.5

7.4

7.9

6.9

7.1

7.9

1-73

1.1

7. 3

7a 3

7_«.2 ..
.
.

7.1

7.5

7.5

7.3

7.6

7.5

7.6

7.6

8.0

7.1

7.4

8.0

4-68

1-6 9

2-69

4-69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

1-72

2-72

3-69

4-71

3-72

145.7
149.0

9.4

8.1
8.2
4-72

6.9

151.5

7. 7

8.4

1-73

1 5 4 . 6P

2-73

INITIAL QUARTFR
P- P R E L I M I N A R Y
P R E P A R E O B Y F E D E R A L R E S E R V E B A N K OF S T. L O U I S
O C T O B E R 29, 1 9 7 3
OUTPUT PER MAN-HOUR»
TERMINAL
QUARTE»
>*«08

TOTAL

PRIVATE ECONOMY
1 9 6 7 * 1 00

INITIAL QUARTFR
1-69

2-69

3-69

4-69

1-69
2-69

-0.6

3-69

-0.5

-0.6

- c . ; v\

-0.6

-0.6

-0.6
-2 . 1

-2.9

-4.9

-0.5

-0.5

-0.5

-0.4

3- 7 0

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

-0.8

-1.7

2-70

-o .> ^ 5 %

4-69

1-70

c .>

1-70

X..7...-d

2-70

-0.5

103.

0.6

10 3 . 4
103.3

v

103.1

1-72

1.8
2.0

2-72

2.4

3-72

2.4

4-72

2.6

1-73

2.7

1.2 1.8
0.6 0 . 9 1.3
1.4
1.8 2.1 2 . 7
1.5
1.6 2.1 2.6
1.9
2.2 2. 5 3 . 0
2.2 2. 5 3.0
2.2 2. 5 2.8 3.2
2.6 2. 9 . 3.2 3 . 6
2.6 2. 9 3.1 3.5
2.8 3.0 3.3 3.6
2.8 3 . 1 3 . 3 3.7

2-73

2.5

2.7

2.9

3. 1

2.4

2.6

2.8

0. 3

1-71

1.2

.? - 7 l

1.3

3-71

1.7

4-71

4-68

1-69

2-69

104.5

5. 4

6.4

3.4

. 2.9

-0.4

4. 7

4.8

4.1

8.7

4.2

4.2

3.5

5.4

2.3

4.3

4.3

3.8

5. 3

3.6

4.9

4. 1

4.1

3.7

4.7

3.4

4.0

104.4
106.6
107.2

^ ^ 3 .9 %

108.5

3.0

109.3

4.3

4.3

3. 9

4.8

3.8

4.4

4.1

5.2

4.5

4.6

4.3

5.1

4.4

4.9

4.9

5.9

6.7

110.7

4.4

4.1

4.8

4 .1

4.5

4.4

4.9

4.8

2.9

112.5
113.3
114.8

4. 5

4.5

4.3

4.9

4.3

4.7

4.6

5.0

5.0

4.1

5.4

4.4

4.4

4.2

4 •8

4.3

4.6

4.5

4.8

4.7

4.0

4.6

3.4

4«0

4.0

3.8

4.2

3. 7

3.9

3.8

3.9

3.7

2.9

3.0

3.C

3.2

3.9

3.8

3.6

_ 4.0

3 .5

3.6

3.5

3.6

3.3

A. 6

2.6

1.6

0.5

1.4

3-69

4-69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

4-72

1-73

2-73

INITIAI

3.9

115.9

/

_

102.9

4.4

.
0
1
r.

3- 7 1

0. 9

0.4

o

0.4

rv
>

3-70
4-70

101.8

}

3-72

115.8
1 1 6 . 2P

OUARTFR

P - PR FLIM INAR Y




PREPARED 6Y FEOERAl RFSERVE BANK OF S T .
UCTOBPR 29, 1973

LOUIS

13
PRODUCTIVITY,
R A T I O SCALE
1967-100

CO M PENSATION, AND LABOR COSTS
RATIO
SEASONALLY ADJUSTED

SCALE
1967-100

SOURCEI U.S. DEPARTMENT OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTED* 3RD QUARTER PRELIMINARY
PREPARED BY FEOERAL RESERVE BANK OF ST. LOUIS

UNIT LABOR COSTS» TOTAL P M V A T F FTONUMV
C O H P O U N D E D ANNUAL RATES OF CHANGE
INITIAL

1 9 6 7 » 100

QUARTER

QUARTER
4-68

1-69

2-69

3-69

4-69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

¿-73

1-69

2- 6 9

3-69

*-69

1- 7 0

2-70

3-70

*-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

6.5

4-6B

INITIAL Q U A R T F R
P R E L 1M I N A R Y




PREPARED BY FEOERAL RESERVE BANK OF ST.
OCTOBER 29, 1973

LOUIS

14
C O N S U M E R PRICE INDEX» S E A SONALLY ADJU S T E D
C Q M P O U N O E O ANNUAL RATES OF CHANGE

TERMINAL
MONTH

INITIAL
4-72

3-72

5-72

6-72

7-72

8-72

9-72

10-72

11-72

1967

MONTH
1-73

12-72

2-73

3-73

5-73

4-73

6-73

7-73

8-73

»

100

9-73

2.2

4-72

124.30
124.68

5-72

3*0

3.7

6-72

2.5

2.0

1.5

7-72

3.1

J.3

3.1

4.8

8-72

3.1

3.3

J.2

4.1

3.3

>-72

3.4

3.7

i. 7

4.4

4.2

5.2

124.83
125.32
125.66
126.19
126.61

lu-72

3.5

3 .d

3.8

4.3

4.2

4.6

4.1

11-72

3.5

i. 7

i.7

4.2

4.0

4.3

3.8

3.6

12-72

3.4

i *o

-i.5

3.9

3.7

3.8

3.4

3.0

2-5

p N .

127.24

1- 7 1

3.7

J.d

3.9

4.2

4. 1

4.3

4.0

4.0

4.3

6.1

127.87

2-73

4.1

4.3

4.4

4.7

4.7

5.0

4.9

5.2

5.7

7.3

8.6

128.75

5.8

5.9

6.3

7.0

8.6

9.8

129.88

7.2

8.4

9.2

9.4

7.2

8*2

8.7

8.7

7.6

7.3

7.2

8.0

8.3

8.3

7.4

7.1

7.0

i-73

4.7

4.9

5.0

5.4

5.5

4-73

4.9

5.1

5.3

5.7

5.8

i-73

5.1

5.3

5.4

5.8

5.9

6.1 6.2 6.6
6.2 6 . 3 6 . 7

6-73

v.2

5.4

^.0

5.9

6.0

6.3

7-7 ^

5.1

5.2

5.4

5.7

5.7

6.0 6*0

8-73

6.2

6.4

6.6

7.0

7. 2

7.5

7.7

9-73

o .0

0* 1

6.4

6.8

6.9

7.2

7.4

6.7

6.4

7. 8

\+ 8 .9 %

130.70
131.47
132.21

7.2

7.4

7.2

6*2

5.7

4.8

2.8

8.1

6.6
8.6

9.4

9.8

10.0

9*8

10.3

11.4

13.7

25.7

7.7

8.1

8.7

9.1

9.1

8.8

9.0

9.5

10.3

14.3

3.9

8.3

ra.sTl

9.2

9.3

9.0

9.2

9.6

10.3

13.0

7.1

11-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

6.3

6.3

6.5

6.7

7.0

7.1

7.4

7.6

7.9

3-72

10-73

126.98

4-72

5 - 72

6-72

7-72

8-72

9-72

10-72

12-72

132.51
135.06

\

135.49

10.4]|

136.61

9-73

P R E P A R E D dY FCOfcRAL RfSFRVfc B A N K OF ST. L O U t T
N O V E M B E R 21» 1 9 7 3
WHOLESAlE PRICES - INDUSTRIAL COMMODITIES, SEASONALLY ADJUSTED
__________________ C O M P O U N D E D A N N U A L R A T E S OP C H A N C E _________________________________________________________________
TERMINAL
MONTH

INITIAL MO N T H
4r72

5- 72

6-72_

7-72

8 -72

9-72 10-72 U - 7 2

12-72

1-73

196 7 - 100
2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73

\ - u ...

*.3

117.05

5-72

4 . 2 . 3,.? .
.

117.45

6-72

4. 1

7-72

3.9 . If,S.
.

3.6

2.7

0-7 2

4 t P ..3 . v

3.3

3.4

4.3

...4

117.88
118.14
4.1

118.54

9-72

3.9

3.0

3.7

3.4

3.9

3 .4

10-72

3.4

3.2

3.1

2.7

2.7

2. C

U-72

3.6

3.5

3.3,

3.1

_3.2_

2.9

3.3

3.1

2.. 9

3.0 _

i.O

J.L

2.9

2.7

4.3

4. 3

4. 5_
6 .3

12-72
1-73

3»4

3.3

3.2

*.2

4.2

4.2

3-73

5.0

5.1

5.2

5.3

5.6

5.8

-..AjlI . 6.v?

1 .9

3.4

2.7

3.6

5.5

5.8

7.8

12.1

7. 4

8.1

10.2

13.7

119.59
119.94
121.09
15.Z

122.53

6 .4

6.8

7.2

7,7

9.C

5 .8

11.9

14.8

16. 1

17.0

O • C . L-o..,
.

7,2

7.7

8.1

8.7

9. 9

10,7

12.6

14.9

15.9

16.2

15.5

7.1 _ 7,4

7.6 _

0.1

__8c5 _ 9.1

10 . 2

11.0

12.5

14.4

15.0

14.9

13.9

12.4

7*1 _

124.14
n

<h

i

.6%

125.64

\

126.87

iLt.;

6.9

7.4

7.S

8.2

9.1

S.6

10.a

12.0

12.0

11. 2

9.3

6.4

0.7

__6*5. _ 6 . 6

6.7

,t.#9

7.2

7.5

7.9

8. *

9.1

10.0

11.0

10.8

9.9

8.2

5.9

2.7

7.0

7.3.

7.6

7.9

8.6

9.0

9.8

10.6

1 0 . 4 ,__9*4. .8. 2

6.4

4.5

6.5

8.2

7.0 _ 7.1

7.3

7.5

7.8

ii.C _ 8.4

9.1

9.5

10.9

10.3

9.2

8.0

6.9

9 .1

11.3

4-72

5 -72

6-72

7-72

2-73

3-73

4-73

5-73

6-73

7-73

8-73

..

9-73
10-73

119.40

3. 4

7.0

6-73

8-73

118.93
4.8

6. 6

-

. f c l L . ..
J

-1=11

*•7

2.7

2-73_

11

118.87
0.6

.Ail_

3-72




a - 72

9 -7 2

10-72 11-72

1 0 . 3 1 ll.ol
12-72

1-73

126.94
4.8

127.44
128.28
i

129.74

9-73

INITIAL MONTH

PREPAREO 8Y FEDERAL »FSERVE
NOVEMBER 7* 1973

BANK CF ST.

LOUIS

15
RATI O

PR I CES

SCALE

965

1966

PERCENTAGES

ARE

LATEST

PLOTTED:

DATA




1967

ANNUAL

RATES

1968
OF

CHANGE

1969
FO R

PERIOOS

RATIO

1970

1971

1972

SCALE

1973

IND IC ATED.

OCTOBER

PREPARED BY FEDERAL RESERVE BANK OF ST .

LOUIS

1 6
WHO L E S A L E PRICES - ALL C C M M O DITIES,
_ - e B f I N At
If_.i ,
MONTH

1 9 6 7 * 100

INITIAL MONTH
¿ -7 2

-W?

SEASCNALLY ADJUSTED

4-72

5-72

6-72

7-72

8-72

9-7 2

10-72 11-72

12-72

1-73

2-73

3-73

4-73

5-73

6-73

7-73

8-73

9-73
117.39

3.4. „

5-72

4.3

6. 2

6-7?

4.9

5.6

5.0

1 7-72

5.7

6.5

6.7

8.4

119.26

*-71....,

b.O

6.7

6.8

7. 8

7.2

119.95

9-72

6.0

6.5

6.6

7.2

6.6

o .O

10-72

5.2

5. j

5.3

5. 4

4.5

3.1

0.4

11-72

5.6

5.9

5.9

6.1

5. 5

4.9

4.4

117.98
118.46

120.53
120.57
9.6

121.40

12-7?

7.1

7.6

7.8

3. 3

0.3

8.5

9.4

14.2

20.1

_ 1-73

7.6

B.l

8.3

8.8

6. 9

9.2

10,1

13.5

16.0

12.0

2-7 J

3.3

9. 3

9,7

10,2

10. 5

U.l

12.1

15.3

17,6

16.3

20.9

3— 7 3

10.5

11* 1

11.6

12.4

12.9

13, 8

15. 1

18,3

20,9

21.1

26.0

31.3 ^ X + 1 6 . 2 %

129.32

4-73

10.o

1U.2.

11.7

12.4

12. 9

1 3.6

14. 7

17. 3

19.1

18.9

21.2

21,4

12.3

130.58

5-7 3

11.7

12 . 4

12 . 9

13.7

14.2

15.1

16*2

18.7

20.5

20.5

22.8

2 3 «4

19.7

27.5

6-73

12.9

13.7

14.3

15.1

15,7

1 6.6

17, 8

20.2

22.0

22.3

*4*4

25.3

23.4

29.3

7-73

10.9

11.4

11.0

12.4

1 2,7

13.2

14,0

15.6

16.5

16,0

16.6

1 5.6

12.3

12.2

3-73

1 5.0

15. a

16.5

17.3

18.1

19.C

20.3

22.5

24.1

24.6

26.5

27.5

26.8

30.7

9-73

13.0

14.0

14.7

15,1

15. 8

16.6

19.2

19,1

20.1

20.0

1 8.2

19.4

17.4

1 3.2

31.0 -16.9

10-7 i

12.0

12.5

12,9

13.4

13.8

14. 3

1 4 . 9 1 16. 2 1 1 7 . 0

16,7

17.2

16,7

1 4.8

15.2

12.9

8.7

18.3 - 1 0 . 4

-3.5 1

3-7 2

4-72

5-72

6-72

7-72

8-72

9-72

10-72 11-72

12-72

1-73

2-73

3-73

4-73

5-73

6— 73

7-73

9-73

18,2

123.27
124.44
126.42

133.25
136.30

31.2
5 .3 - 1 5 . 5
31.8

134.40

32.0 106.3

142.76

8-73

140.58
140.16

INITIAL MO N T H

P R E P A R E O BY F E O E R A L R E S E R V E
N O V E M B E R 7« 1 9 7 3
H H U L E S A l E P R I C E S - F A R M P R O D U C T S ANO P R O C E S S E D FOODS AND FEEOS,

S E AS. ADJ.
1 9 6 7 - 1 00

INITIAL MONTH

TCRMIfJAL
MONTH
3-72
4-72

B A N K O F ST. L O U I S

4-72

5-7 2

6-7 2

7-72

6-72

9-72 10-72 *1-/2 12-72

1-73

2-73

3-73

4-73

5-73

6-73

J - 13

8-73

9-73

1.0

118.5
119.5

10.6

5-7?

5.7

6-72

3.9

3.4

6.2

7- 7 2

9. 9

13.1

14.3

23.1

H-7?

11. 3

14.0

15.2

20.0

16 . 9

9-72

12.4

14.3

15.8

19.2

17.3

10- 7 2

^.9

11.4

11.6

13. 0

9.8

6.5

-3.8

11-72

11.2

12.«

1 3.1

14.6

12.5

U.l

7.9

21.0
47.0

120.1
122.2
123.8
125.5

17.9

125.1
127.1
133.4

78.7

12-72

17.2

19.4

20.3

23.4

23.4

25.1

27.7

1-73

19.0

21.2

22.6

25.2

25.5

27.3

29.8

43.4

56.2

36.4

2-73

21.0

23.2

24.7

27.2

2?.8

29.7

32.2

43.2

51.5

39.4

42.5

3-73

25 . 1

27.5

29.4

32.2

33.4

36.C

39.3

49.9

58.2

51.9

60.3

4-/3

2 3.0

25.1

2c.5

23.7

29.3

31 . 0

33.C

40.3

44.6

37.1

37.3

34.8

0.8

5-73

25.5

2 7.6

29 . 1

31.4

32. 3

34.1

36.3

43.3

47.4

41.8

43.2

43.4

27.9

62.3

6-73

28.5

30.7

32.4

34.9

36.0

38.1

4C.5

47.4

51.6

47.5

49.8

51.7

43.2

70.6

7-73

22.1

23.7

24.7

26.2

26.5

27.4

28.4

32.6

34. 2

28.8

27.5

24.7

13 . 8

18.4

i-73

36.3

39.4

41.5

44.5

46.3

49.0

52. 3

59.4

64.4

62.7

66.8

71.2

69.5

92.9 104.4 118.2 734.5

136.9
141.0
80.3

S S£35.3%

148.1
148.2
154.3
162.0

79.4

154.6

1.2 - 4 2 . 9

184.5
174.9

9-73

29 .7

31.t

33.1

35. 1

36.C

3 7.6

39.4

44.1

46.7

43.5

44.4

44.7

39.5

48.8

45.6

35.9 109.6 - 4 7 . 3

10-73

25.3

26.5

2 7. d

29.3

29.7

30 . 7

31.3

1^5.31

36.6

33.0

32.6

31.5

25.7

30.3

24.8

13.9

43.5 -4 0 . 5 - 3 2 . 8

3- 7 2

4-72

5-72

6-72

7- 7 2

8- 7 2

9-72

1 0 - 7 2 1 1-72 1 2 - 7 2

1-73

2-73

3-73

4-73

5-73

6-73

7-73




8-73

1

169.2

9-73

INITIAL MO N T H

PREPAREO BY FEDERAL RESERVE
NOVEMBER 7, 1973

BANK OF ST.

LOUIS

17
RATIO

WHOLESALE

SCALE

1 9 6 7 = 1 0 0

SEASONALLY

PERCENTAGES

ARE

LATEST

PLOTTED:

DATA




ANNUAL

RATES

OF

CHANGE

FOR

PRICES
ADJUSTED

PERIO DS

RATIO

SCALE

1 9 6 7 = 1 0 0

IN D IC A T E D .

OCTOBER

PREPARED BY FEDERAL RESERVE BANK OF S T .

LOUIS

1 8

GENERAL

PRICE

INDEX*

R A T I O SCALE

RATIO

1958-100
160

SCALE

1958-100
160
1

155

Mr s i

155

/ / l b . 06

150

150

M5

145

140

MO

135

135

ÄT,

150

130

+ 4 .i

125

125
+ 4.

120

120

115

1 15
¿ 2

110

*

»

110
»

*

t

1

1966

1967

1

1

*
♦

$
♦

1
♦

♦

t

t

1965

«5

i

>
___g ______

1

1

$

I

\

. .... i t .
L

it

I

1

t

100

%

>

105 M _____ a?
1
1

1968

1969

_
tt ----- W _ _

......

1970

1971

1972

*
♦

105

100

1973

M i l IN MAT IM A L IMC MME ACCOUNTS
SOURCE i U.S. DEFARTMtNT OF COMMERCE
f f t C I M T A M S A«(C ANNUAL RATES Of CNAN4C FOR FIR IOBS INO ICATES.
U T I I T »ATA PlOTTEDi M O

«VARTER
FREFARK0 IY FEDERAL RESERVE SANK OF ST. LOUIS

IMPLICIT PR I C E D E F L A T O R FOR GR O S S N A T I O N A L P R O D U C T
______ _ _ £ O H P Q U N Q . £ f l A N N U A L .
ftAIj£l-..fljE.jaiAM£_____________
-UE&M1MAL
QUARTER
4-68
i-6 9

4.9

1-69

2-69

3-69

4-69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

1-72

*“
72

1-73

2-73

_
125.55

4.2

2-69

100

INITIAL QUARTER

5.5

127.24

j
6.1

«S+6.0%

129.14

3-69

5.3

5.8

4-69

5.3

5.7

5.8

5. 5

N.

1-70

5.5

5.9

6. 0

5.9

6.3

5.5

5.5

4.6

5.1

5.0

4.3

130.88
1 32. 9 1
134.41

L+5.1%-

135.77

5.2

5.4

4-70

5.3

5. 5

5.5

5.4

5.3

5.0

5.2

W 1

5. 4

5. 5

5.5

5.4

5. 4

5.1

5.3

5. 9

2-7 1

5.3

5. 4

5.4

5. 3

5.3

5.1

5 .2

5. 6

5.2

4.9

3-70

4.1
T

137.88

r

139.73

w

141.40
142.39

3-7 1

5.1

5.2

5.1

5.0

4.9

4.7

4.7

4.9

4.4

3.8

2.8

4-71

_ 4.8

4.8

4.7

4,6

4.5

4*2

4,1

4 .2 .

3.6

3. 0

2..L

1.3

1-72

4.8

4. 9

4. 8

4.7

4. 6

4.4

4.4

4.4

4.0

3.7

3.3

3.5

5.7^v^

2-72

4. 6

4.6

4.6

4.4

4.3

4. 1

3.2

2.8

2.8

3.6

1.6 \

..1*8 . 2 . 8

3.3

2.2

l r l 2 . __ 1 * 5 .

4. 5

4.0

3.6

.. !_•J —

3*5

3.8

3.8

3.5

I± 1

4.0

4.0

3 .S

3.5

4.3

4.3

4.1

4.0

3.8

4.5

4.5

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4.4

4.4

4 . 3 ___ 4 *2____ 4 . 1 ___ 3 . 9

1- 7 3

4.5

4.5

4.5

4.3

4 . 2 _ 4. 1
_

-2.-7 3 .

4.6

4.6

4.5

4. 5

4.8

4. 8

4.7

i-69

2-69

3-69

4-68




4-69

2.8 ^ ^

146.42
147.63

2.9
3.4

3.4

4-Tl

1-7 2

j

145.42

4.0

4.5

4.0

.

JU2L. . . . t i l ..

.4-71

_i*8_

142.85
144.85

2-72

3-72

4-72

1-73

2-73

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE
NOVEMBER 16» 1973

BANK OF ST.

LOUIS

1

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