Full text of National Economic Trends : August 1986
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
N a tio n a l E c o n o m ic T r e n d s August 1986 D e d u c in g t h e t r e n d o f g o v e r n m e n t s p e n d in g in r e c e n t y e a r s h a s b e e n im p e d e d b y la r g e q u a r t e r - t o - q u a r t e r v a r ia t io n a n d by a g e n e r a l p r e o c c u p a t io n w it h th e s iz e o f th e d e f ic it . C o n s e q u e n t ly , one m e a s u r e s th a t a r e in d e p e n d e n t o f th e v a g a r ie s o f g o v e r n m e n t a l a c c o u n t in g a c c o u n ts The in is s u it e d id e a lly a c c o m p a n y in g f o r t h is t a b le C r e d it The f e d e r a l a n d s ta te a n d lo c a l s p e n d in g tre n d s in p e r s p e c t iv e , u s in g g o v e r n m e n t s e c to r o f th e G N P s in c e t h e e n d o f t h e la s t r e c e s s io n to t h e t r e n d s o f n o m in a l G N P — r a p id a c c e le r a t io n u n t il m id - 1 9 8 4 , f o llo w e d b y s lo w C o r p o r a t io n p u rc h a se s a re e x c lu d e d A s th e t a b le s h o w s , g o v e r n m e n t e x p e n d it u r e s g r e w fro m s y s te m s . such p u rp o se . s u m m a r iz e s tr e n d s in 1 9 8 2 . T h e p e r io d s c o n f o r m C o m m o d it y m u s t v ie w becau se o f t h e ir la r g e m o r e s lo w ly th a n G N P g ro w th . q u a r t e r - to - q u a r te r v o la t ilit y . d u r in g th e f ir s t t w o y e a r s o f r a p id e x p a n s io n t h e r e c o v e r y . S in c e m id - 1 9 8 4 , h o w e v e r , b o t h f e d e r a l a n d s ta te a n d lo c a l e x p e n d it u r e s h a v e a c c e le r a t e d . T h e a c c e le r a t io n in f e d e r a l e x p e n d it u r e s r e f le c t e d fa s t e r g r o w t h in t r a n s f e r p a y m e n t s a n d “ o t h e r ” in - a id , n e t in t e r e s t a n d s u b s id ie s le s s cu rre n t s u r p lu s n o n d e f e n s e e x p e n d it u r e s ( in c lu d in g g r a n t s - o f g o v e r n m e n t e n t e r p r is e s ) . T r e n d s in G o v e r n m e n t E x p e n d i t u r e s 1 ( c o m p o u n d e d a n n u a l ra te s o f c h a n g e ) 1 1 /1 9 8 4 to 1 1 /1 9 8 6 F e d e ra l 8 .4 % D e fe n s e 9 .1 I V / 1 9 8 2 to 1 1 /1 9 8 4 5.1% 9 .0 8.1 3 .7 P u rc h a se s 2 .7 6 .5 T r a n s fe r p a y m e n ts 5 .9 0.8 N o n d e fe n s e O th e r S ta te a n d lo c a l P u rc h a se s T r a n s fe r p a y m e n ts G N P 1 3 .4 7 .8 8 .5 6 .9 8.6 6.1 6.8 5 .7 8 .7 1 0 .7 1E x c lu d e s C o m m o d ity C re d it C o rp o ra tio n in v e n to ry change. — K e it h T H E F E D E R A L R E S E R V E R A N K o f ST. L O IT S Views expressed do not necessarily reflect official positions of the Federal Reserve System. M . C a r ls o n TOTAL C I V IL I A N DEPLOYM ENT* COMPOUNDED ANNUAL R ATES OP CHANGE TERMINAL_____________________________________________________________ IN IT IA L MONTH_______________________________________________________________ THOUSANDS OF PERSONS MONTH 12-84 1-85 2-85 3-85 4-85 5-85 6-85 7-85 8-85 9-85 10-85 11—85 12-85 3-86 4 -86 5-86 6-86 1-86 2-86 1—85 0*8 2-85 1 .9 3.1 3-85 2 *7 3 .6 4-85 5-85 6-85 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 106»315 1*8 2.1 1.6 1.6 1.8 1.3 - 0 .1 0 .7 0.6 0.0 - 1 . 3 1.0 1.0 0.6 -0 . 2 1 .4 1 .4 1.2 0.6 1.6 1.7 1.5 1.1 1.8 1.9 1.7 1 .4 1#8 1.9 1.7 1 .4 1.8 1.9 1.8 1.6 2 .3 2.5 1.9 3-86 1.9 2.0 4-8 6 1.9 1.9 6-86 7-86 106*951 -0 .9 1.9 5-86 106*58? 4 .2 2.0 2.1 2.2 2.1 2.2 1-85 0.8 -1 .5 106*939 2-85 3-85 4-85 106*601 -3 .7 0.0 - 0 . 4 1.0 1.0 1.5 1.6 1.8 2.0 1.8 1 .9 1.9 2.0 2 .4 2 .3 2.6 2.8 1 .9 1.6 1.9 2.0 1 .9 1.7 2.0 2.1 1.9 1.9 1.7 2.0 1.9 1.9 1.7 2.0 2.2 2.0 2.2 2 .4 2.2 2.0 2.2 2 .4 1.9 12-84 106*872 5-85 3 .1 106*871 3 .5 3 .9 3 .5 3 .7 3 .5 3 .4 3 .6 3 .4 3 .1 3.1 2 .9 3 .0 3 .0 2 .5 1.8 2.8 2.6 2.2 3 .8 3 .9 4 .0 107*210 107*519 107*813 3.3 4 .1 2.8 2 .7 2 .5 2.3 2 .7 2 .7 2 .5 2 .4 4 .3 2.1 2.2 2.6 2 .5 2 .4 2.2 2.0 2.6 2 .5 2 .4 2.2 2.1 2 .9 2 .9 2.8 2 .7 2.6 2.8 2.8 2 .7 2.6 2.6 6-85 7-85 8-85 107*969 108*206 2 .7 8.6 2.2 2.0 2 .3 2.2 2.1 1 .9 2.1 2.0 108*955 5 .6 -4 .3 -0 .9 108*561 2 .5 108*788 0 .4 1.8 1.2 2.0 1.8 2 .4 - 0 .2 108*892 109*110 2 .7 2 .7 1.6 3 .1 3.3 4 .4 6 .4 2 .7 2 .7 1.7 2 .9 3 .0 3 .7 4 .3 2-86 r-a v 1-86 2-86 3-86 9-85 10-85 11-85 109*673 2 .3 109*882 3 -8 S ♦SEE FOOTNOTE BOTTOM OF CHART OPPOSITE PAGE PAYROLL EMPLOYMENT CQMPQUNDEQ AMNUAt RATES Of CHAM6E TERMINAL MONTH 12—84 __ IN IT IA L MONTH 1-85 2-85 3-85 4-8 5 5-85 1—115 2.8 ? -« 5 ? -3 1.8 3-85 3 .0 3.2 4 .6 4-85 3 .0 3.1 3 .8 2 .9 5-85 3 .0 3.1 3 .5 2 .9 2 .9 6-65 2 .7 2.7 2 .9 2 .4 2.1 1 .3 7 -8 5 2 .7 2.7 2 .9 2 .5 2 .4 2.1 8-85 2.7 2.7 2 .9 9-85 2.8 2. a 2 .9 6-85 7-85 a-85 9-85 10-85 11-85 12-85 97*104 97*338 97*442 97t672 2*9 2.9 3 .0 11-85 2 .9 2.9 3 .0 12-85 2.9 2.9 3 .0 3 .0 3.0 3 .2 3 .0 3 .0 3 .0 2 .9 2 .9 3 .0 2 .9 2 .9 2 .9 6-86 2.8 2.8 2.8 2.6 7 -8 6 2 .7 2.8 2.8 2 .7 2 .7 2 .7 2*8 2.8 2*8 2.8 2.8 2 .9 2.8 2.8 2 .7 2*9 2 .9 2*9 2.9 2.8 2.8 2 .7 2 .7 2 .7 2*8 2*8 2*8 2*7 2t? 2*6 2*5 2 .4 2 .4 2*5 2*5 2*4 2*4 2.6 2.6 2*6 2*7 2*6 2*6 2*6 2 .7 2*7 5 -66 12-84 THOUSANDS OF PERSONS 96*870 2 .9 4 -8 6 6-66 96*366 10-85 3-®6 5-86 96*507 _ 2 .5 2 .4 2 .3 2.8 2*6 2 .5 2 .5 2.8 ... 2.8 2 .7 2 .7 3.1 2.8 2.8 2 . 7 3 .0 2*8 2.8 2.8 3 .0 1— 86 _ 2-86 4-8 6 1-85 2-85 3-85 4-85 5 -85 97*690 2 .7 98*128 2*8 3*0 3.1 3 .3 3*7 3 .3 98.428 3.1 3 .2 3*1 3*2 _ 3,2_ 3*0 3*0 3*3 3*4 3*5 3*6 3*6 3*9 4*8 3.1 3*1 3*2 3*2 3.1 3 .1 3 .2 6-85 7-85 8-85 2*9 98*666 2.6 2*5 2.8 2 .7 2*6 2.6 2.2 2.1 2.5 2 .4 98*910 99.296 2 .5 1.6 1.1 0 .7 2.0 2.2 3 .7 1.9 2.0 2.6 1.6 1 .9 1.4 1.3 1.5 0 .5 2 .3 1.9 2.0 2 .3 1.9 1-86 2-86 3 -86 4-8 6 2 .3 2 .7 9-65 10-65 11-65 12-85 99*429 99*464 99*783 99*918 -0 .6 2.0 5-66 99*864P 4 .6 100.253P 6-86 IN IT IA L MONTH P - PRELIMINARY PREPA RED BY F E D E R A L R E S E R V E BANK OF ST * L O U IS AUGUST 6» 1986 2 EMPLOYMENT R A T IO S C A LE M IL L IO N S OF R A T IO SEASONALLY ADJUSTED P ER S O N S M IL L IO N S OF S C A LE P ER S O N S 125 120 115 110 105 100 95 90 85 80 75 SOURCEt U.S.DEPARTMENT OF LABOR BEG11011NO JANUARY 1086. TOTAL EMPLOYMENT DATA INCORPORATE NEV PROCEDURES FOR ESTIMATING MEASURES OF IMMIGRATION AND EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT 0.3X. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: JULY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS UNEMPLOYMENT SEASONALLY PERCENT RATE ADJUSTED PERCENT 12.0 11 11.0 10 10.0 9.0 8.0 7.0 6.0 5.0 4 .0 1978 1979 1980 1981 1982 PERCENT OF CIVILIAN LABOR FORCE LATEST DATA PLOTTED* JULY 1983 1984 1985 1986 SOURCEt U.S. DEPARTMENT OF LABOR PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 CONSUMER P R IC E 1967*100 I N I T I A L MONTH TERMINAL MONTH 1 2 -8 4 1-8 5 2 -8 5 3-85 4-85 5 -8 5 6- 8 5 7-85 8-85 2.3 2-85 3.1 3.9 3-85 4 .0 4.8 4-85 4 .0 4#6 5.0 4.2 5 -8 5 3 .8 4.1 4.2 3 .4 6-85 3.6 3.9 3 .9 7-85 3 .4 3.6 3 .6 8 -8 5 3.3 3.5 3.4 9-85 3.2 3.3 3.3 3 .4 320.3 321.0 2.8 3 . 0 2.6 2.6 3 .0 2.6 2.6 3 .0 2.8 2.6 2 . 5 321*8 3.3 3 .1 2.9 2 .9 322.4 2.3 2.4 2.6 2.4 2 .4 2 .3 2.9 3.1 3.4 4 .5 323.1 323.7 324.9 326.7 3.7 3 .8 3 .8 3.5 3 .4 3.6 3.7 4.1 4 .5 5.7 6.9 3.9 3.9 3 .7 3.6 3 .7 3 .8 4 .1 4 .5 5.3 5.7 4 .5 3.8 3 .9 3 .9 3 .7 3.6 3.8 3 .9 4.1 4.4 5.0 5.1 4.3 3.1 3.2 3.1 2.9 2.6 2.6 2 . 5 2.2 2.2 2.2 2.1 1.8 2.2 2.2 2.1 1.8 2.1 2.4 2.4 2.3 2.3 2.2 2.0 2.3 7-86 12-84 6-86 2 .7 3 .7 6— 86 5-86 319.2 12 -85 5-86 4-8 6 5.8 1 1 -8 5 4—86 3-86 317.7 3.5 3.3 1-86 2-86 3-86 1-86 2-86 9 - 8 5 10-85 11 -8 5 1 2 -8 5 316.7 1- 8 5 10 -8 5 IN D EX FOR A L L URBAN CONSUMERS, SEA SO N A LLY A D JUSTED 1-8 5 2 -8 5 3 -8 5 2.8 2.8 2.8 2.0 2.0 1 . 9 1.6 1 . 5 1 .3 1.6 1.6 1 . 4 1.8 1.9 1.9 1.8 1.8 1 . 7 4-8 5 5 -8 5 6 -8 5 2.8 2 . 9 3 . 0 1.8 1 . 7 1.6 1.2 1.1 0 . 9 1 .3 1.2 1.1 1.7 1.6 1.6 1.6 1 . 5 1 . 4 7-85 8-85 327.9 1.2 2 .6 329.0 4.1 327.7 -0 .4 -4 .6 1.0 -0 .4 -1 .9 -4 .8 -5 .0 0.3 -1 .0 -2 .3 -4 .3 -4 .1 -3 .3 0.6 -0 .4 -1 .4 -2 .7 -2 .1 —0 . 6 1 .2 0 .4 -0 .2 -1 .1 -0 .2 1.5 3.9 5.7 1 .1 0.4 —0 . 2 -0 .8 -0 .1 1.2 2.7 3.0 9-8 5 10-85 11-85 12 -8 5 4-86 5-86 1-86 2-86 3 2 6 .3 3-86 325.4 2.2 326.0 327.5 0 .4 327.6 6-66 I N I T I A L MONTH AUGUST 2 1 t 1986 rr .f w w v s c ii w C A t r w w v * COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL flDMTH 12 - 8 4 1 -6 5 -0 .8 2-65 -0 .4 1-8 5 3-65 -0 .1 4-65 1.4 5-65 1.7 2.4 6 -6 5 1.0 1 .4 7-65 1 .3 1.7 8-65 0.7 0.9 9-6 5 -0 .1 -0 .1 10 -6 5 0.9 12 -6 5 1.6 2.1 2-85 3-85 4-85 5-85 6-85 7 -8 5 8-85 9 - 8 5 10-85 11 - 8 5 12 -8 5 1-86 2-8 6 3-86 4-8 6 5 -8 6 100 6-86 291.9 0.0 0.2 2.2 11 -6 5 1967 « I N I T I A L MONTH 1.1 1.9 2 .4 2 9 1 .9 292.0 0 .4 3.3 6 .3 3.2 4.6 293.5 2 .9 2 9 4 .2 1.8 2.2 0.2 - 2 . 4 2.0 2 . 4 1.1 0.2 1.0 1.2 —0 . 1 - 1 . 1 -0 .1 1.3 2.1 2.6 1.6 -0 .1 -1 .4 -2 .4 293.6 294.3 2.9 -0 .4 -3 .6 -2 .4 -5 .0 293.4 -6 .4 2 9 1 .8 2.3 0.6 0.2 0.8 0.1 2.1 11.2 1.5 1.7 2.3 2.2 4 . 2 9 . 8 8.5 2 .9 2.5 8.2 1 .4 2 .4 3 .3 5.1 9.2 8.0 298.3 1-66 2-66 1.3 1.4 4.5 2.3 -0 .6 -0 .2 -0 .2 -0 .2 -0 .3 -0 .9 -1 .3 -1 .2 -1 .7 -1 .4 -0 .4 -3 .1 -6 .7 -1 3 .3 -1 7 .8 291.3 3-6 6 -1 .0 -1 .0 -1 .1 -1 .2 -1 .9 -2 .3 -2 .3 -2 .9 -2 .8 -2 .2 -4 .7 -7 .8 -1 2 .5 -1 4 .4 -1 0 .9 288.5 4-6 6 -1 .4 -1 .4 -1 .5 -1 .6 -2 .3 -2 .7 -2 .8 -3 .4 -3 .4 -2 .9 -5 .1 -7 .6 -1 1 .1 -1 2 .0 -8 .9 5-66 -0 .8 -0 .8 -0 .9 -1 .0 -1 .5 -1 .9 -1 .9 -2 .3 -2 .2 -1 .6 -3 .4 -5 .2 -7 .6 -7 .4 -3 .7 0.2 7.8 6-66 -0 .8 -0 .8 -0 .9 -1 .0 -1 .5 -1 .8 -1 .7 -2 .1 -2 .0 -1 .5 -3 .0 -4 .5 -6 .5 -6 .0 - 2 . 9 " “ “0*5” 3 .6 -Ó .4 7-6 6 —1.0 - l . l -1 .1 -1 .2 -1 .7 -2 .0 -2 .0 -2 .4 -2 .3 -1 .8 -3 .2 -4 .6 -6 .2 -5 .9 -3 .3 -1 .2 0.7 -2 .7 -4 .9 i-W 2-85 3-85 4-8 5 5-65 6-6 5 7 -8 5 8-85 9 - 8 5 10 -65 1 1 -8 5 12 -8 5 1-86 2-86 3-66 4-8 6 5-8 6 6-86 12-84 1.7 1*2 1.0 3.2 294.4 296.4 1.5 1.2 2.2 -8 .5 296.1 -6 .8 286.8 288.6 288*5 2 6 7 .3 I N I T I A L MONTH ♦OATA FOR FOUR: MONTHS AGO REVISED TO R EFL ECT LATE REPORTING PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 4 RATIO SCALE P R I C E S 1967-100 RATIO SEASONALLY ADJUSTED SCALE 1967-100 CONSUMER PRICE I HOEX BEGINNING JANUARY 1978 IS FOR ALL URBAN CONSUMERS (C fl- U ). CPI-U DATA BEGINNING 19*3 INCORPORATE A RENTAL EOUI VALENCE MEASURE FOR HOMEOWNERSHIP COSTS. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS INOICATEO. L A T E ST OATA PLO TTEO t JU L Y PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PRODUCER P R I C E S ratio scale PE R C EN T ABCS ARE ANNUAL R A T E S OF CHANGE FOR PE R I M S L A T E ST BATA PLO T TEO t ratio scale IN O IC A T E O . JU L Y PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 PRODUCER P R IC E TERMINAL MONTH 12-84 IH O E X . F IN IS H E D CONSUMER FOODS - SEA SO N A LLY A D JU S T E D * COMPOUNDED ANNUAL R A T ES OF CHANGE 1967 * 100 INITIAL MONTH 1-85 2-85 3-85 4-85 5-85 6-85 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-66 6-86 - 4 .3 273.7 2-65 - 2 .4 273.6 3-85 -3*3 - 2 .8 - 5 .1 4-85 - 4 .2 - 4 .2 —6 .0 - 6 .8 5-65 - 5 .2 - 5 .5 - 7 .1 - 8 .1 - 9 .3 1-65 - 0 .4 2 * ¿ .4 270.8 268.6 6*65 - 4 .5 - 4 .6 - 5 .6 - 5 .7 - 5 .2 7-85 - 2 .4 - 2 .0 - 2 .4 - 1 .6 0 .1 - 0 .9 5 .2 11.8 - 2 .9 - 3 .3 - 3 .0 - 2 .0 0 .6 1.3 ¿>0.* 269.0 - 8 .1 8-85 - 3 .1 9-85 - 4 .0 - 4 .0 - 4 .5 - 4 .4 - 3 .9 -2 .4 - 2 .9 10-65 - 1 .7 - 1 .4 - 1 .5 - 1 .0 0 .0 2 .0 2 .7 - 0 .1 4 .1 21 .7 11-85 - 0 .4 0.0 0 .0 0 .7 1.8 3*6 4*8 3 .1 7 .2 17.6 3 .2 5 .1 6 .1 5 .0 8 .6 16.0 0 .7 12-85 1.1 1 .3 2 .0 266.4 - 9 .6 - 1 1 .0 270.8 273.7 13.6 13.3 13.0 1-86 0 .1 0 .4 0 .5 1 .1 2 .0 3 .5 4 .2 3 .0 5 .3 9 .9 6 .2 2-86 - 1 .4 - 1 .1 - 1 .2 - 0 .8 —0 .2 0 .8 1.1 - 0 .4 1.0 3 .5 - 0 .6 - 4 .9 - 1 2 .7 - 1 8 .3 3-86 - 1 .2 - 0 .9 - 1 .0 - 0 .6 0 .0 0 .9 1.1 - 0 .1 1.1 3 .3 - O .i - 3 .3 4—86 - 0 .8 - 0 .6 —0 .6 - 0 .3 0 .3 1.2 1.4 0 .3 1.5 3 .4 0 .6 5-66 0 .0 0.3 0 .3 0 .7 1.3 2 .3 2 .6 1 .7 00 • M 2 .7 276.5 - 6 .7 4 .7 2 .5 6-86 0 .0 0.3 0 .3 0 .7 1.2 2 .1 2 .3 1.5 2 .5 4 .¿ 7-86 1.2 1*5 1.6 2 .1 2 .7 3 .6 3 .9 3 .3 4 .4 6.1 12-84 1-65 2-85 3-85 4-85 5-85 6-85 7-85 8-85 2 Í 0 .3 - 8 .1 - 8 .8 1.8 270.7 - 1 .8 - 5 .2 - 4 .7 2 .9 4 .1 0 .7 - 1 .6 - 0 .2 6 .7 9.2 14.6 2 .¿ Ò.6 - 1 .3 - 0 .2 $ .0 6.Ò Y. 6 0 .0 4 .5 3 .4 2 .1 '5 .7 8 .t 10.5 12.8 11.* 25.2 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 5-86 6-86 271.6 274.7 ¿ U .T 279.9 INITIAL MONTH ♦OATA FOR FOUR MONTHS AGO REVISED TO REFLECT LAtE RtPOftTING PRODUCER PRICE INDEX , F IN I S H E P GOOOSt EXCLUDING FOODS COMPOUNDED. ANNUAL RATES OF CHANGE TERMINAL INITIAL MONTH 12-84 1-65 1-85 2-85 3-85 4-85 5-65 6-85 7-85 8-85 1967 « 100 9-65 10-85 11-85 12-85 2-86 3-86 4-86 295.7 295.6 -0 .4 1 .0 1.2 2 .9 4-85 3 .4 4 .4 6 .9 5-85 4 .1 296.3 298.9 11.1 300.6 5.1 6 .9 9 .0 7 .0 6-65 3.3 4 .2 4 .7 1.6 - 3 .5 7-85 2.8 3 .4 3 .6 1.2 - 1 .6 0 .4 29 9.7 299.8 29 9.3 8-85 1.9 2.1 2 .5 2 .4 0 .4 -1 .7 - 0 .8 - 2 .0 9-65 1.1 1.2 1 .4 1 .2 - 0 .7 - 2 .6 - 2 .2 - 3 .5 - 5 .1 10-85 1.8 2.0 2 .3 2 .2 0 .8 - 0 .4 0 .4 0 .4 1*6 8 .8 298.0 300.1 11-65 2 .4 2.8 2 .7 1*6 0 .7 1*6 1 .9 3 .2 7 .7 6 .6 12-85 2.8 3 .1 3 .2 2 .2 1 .5 2 .4 2 .8 4 .1 7 .3 6 .6 6 .6 1.7 1.8 2 .0 1 .9 0 .9 0 .1 0 .7 0 .7 1.3 2.9 1 .1 - 1 .6 0.1 0 .2 - 0 .1 - 1 .1 - 2 .0 - 1 .8 - 2 .1 - 2 .1 - 1 .5 3-66 - 0 .9 - 1 .0 - l.l - 1 .4 - 2 .4 - 3 .3 - 3 .3 - 3 .8 - 4 .0 - 3 .9 4-86 - 1 .6 - 1 .7 - 1 .8 - 2 .1 —3 . í - 4 .0 - 4 .1 - 4 .6 - 4 .9 5-86 - l.l - 1 .2 - 1 .3 - 1 .6 - 2 .5 - 3 .3 - 3 .2 - 3 .6 6-86 —1.1 - 1 .2 - 1 .2 -1 .5 -2 .4 -3 .0 - 3 .0 7-86 - 1 .8 - 1 .9 - 2 .0 - 2 .3 - 3 .1 -3 .8 2~£5 3-15.. 1-66 1-86 0 .4 2-65 3-85 SEASONALLY ADJUSTED* 2-86 301.7 303.3 -9 .1 300.9 - 3 .9 - 7 .2 - 1 3 .4 - 1 7 .5 296.1 - 6 .2 - 9 .2 - 1 3 .9 - 1 6 .1 -1 4 .7 292.2 - 4 .8 - 6 .9 - 9 .4 -1 3 .0 - 1 4 .3 - 1 2 .7 - 1 0 .5 289.5 - 3 .8 - 3 .6 - 5 .3 - 7 .1 - 9 .6 - 9 .7 - 7 .0 -2 .8 5 .5 - 3 .3 -3 .4 - 3 .3 - 4 .7 - 6 .2 - 8 .1 - 7 .9 - 5 .4 - 2 .0 2 .5 - 3 .9 - 4 .2 -4 .4 - 4 .3 - 5 .7 - 7 .1 - 8 .9 —8 .* -7.1 -5 .0 6-85 7-85 8-85 9-85 10-65 11-85 12-85 1-86 2-86 3-86 290.8 - 0 .4 29 0.7 - 3 .1 - 7 .2 - 1 3 .5 287.2 4-86 5-86 6-86 ____________________________________________________________ INITIAL MONTH *DATA FOR FOUR MONTHS AGO REVISED TO REFLECT LATE REPORTING PREPA RED BY F E D E R A L R E S E R V E BANK OF S T . L O U IS au4U ST 6 t r t~vrs6 ------------------------------------------------------------------------- NDUSTRIAL R A T I O SCALE 1977- 100 1978 PRODUCTION R A T I O SCALE 1977- 100 SEASONALLY ADJUSTED 1979 1980 1981 1982 1983 1984 1985 1986 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS INDICATED. LATEST OATA PLOTTED* JULY PRELIMINARY PREPARED tY FEOERAL RESERVE BANK OF ST. LOUIS INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RÀTES OP CHANGE TERMINAL MONTH 12-84 1—85 2-8 5 3 -8 5 4 -8 5 5 -5 5 ¿-8 * 7-85 8-8 5 9-8 5 10-85 'I I - 5 5 1 2-5 5 1-8 6 2-Ö 6 3 -5 5 " 4—86 5—86 6 —86 123". 6 3 .0 IZ 3*/ 2 -8 5 2 .0 l. t t 3 -8 5 2 *3 2.Ö z .9 4 -8 5 ¿ .0 1 .6 2 .0 1 .0 5 -8 5 1 #6 1 .2 6 —85 1 li'4 1*1. Ö .8 7 -8 5 19t7 * lOO IN IT I A L MONTH 1-85 ' iz 4 * u 124*1 " ■ 1 .3 0 .5 Ó .0 1 .5 1 .0 170 2 .0 "1 2 * * 1 0 .8 0 .2 0 .0 0 .0 -1 .9 lZ 4 . 3 124* i 8-8 5 2 .3 2 .2 ' 2 .4 2 .3 277 3 .6 4 .4 9 -8 5 2 .Ó 1.8 1 .9 1 .8 1 .9 2 .4 Z .6 579 '“ —l . i r t o —85 1 .1 0 .9 0 .9 0 .6 0 .5 0 .6 0 .2 I7Ü 11-85 1 .9 1.8 1 .8 1 .7 1 .8 2 .1 2 .1 3 .2 12—85 575 ~ 2 .5 ¿ .6 2 .6 2 .8 3 .2 3 .4 4 .5 1-8 6 2 .5 2 .5 2 .6 2 .6 2 .» 3 .2 3 .3 4 .Z ¿-8 6 1 .6 1.5 1 .5 1 .4 1 .5 1 .6 1 .6 3 —86 0 .7 0 .6 0 .5 0 .3 0 .3 0 .3 0 .1 4—86 1 .2 1 .1 1 .1 1 .0 1 .0 1 .1 5 -8 6 0 .7 0 .6 0 .6 0 .4 0 .4 6 —96 0 .5 o; j 0 .3 U. 1 7 -8 6 0 .4 0 .1 0 .2 Ö. 1 " 1 2 -8 4 1-85 2 -8 5 -=375" 125*1 "■■■ 124*4 ........... -6 .5 0 .6 1 .4 IÖV1 2 .9 4 .2 1 0 .0 1070 2 .9 3 .9 ” " 776 6 .4 2 .9 2 .1 0 .6 1 .0 “ " 7 7 9 076’ -3 .7 " 0 .4 —1 .1 1 .0 1 .3 0 .1 0 .4 0 .3 U*5 —U .6 u .l U .l -0 .1 U. 1 070 D .T r - u . l O.Q 7 -8 5 4—85 5—85 6 -8 5 1 Z 5 .4 1 2 6 .4 1Z 6 . - v .y 1.1 O .o - 2 .4 —6 .Z - 1 0 .4 ■=1079 T7 5 ■«=077' -4 .3 - 0 .6 0 .3 -1 .3 —l . U —1 .0 -0 .2 - 1 .0 -1 .0 -<1.3 8 -8 5 9 -6 5 10-65 11-65 - r .4 " —3 . 4 - <=¥79“ -3 .1 - 3 .T 124*4 9 i0 lZ * * 3 " '170 —6*5 124; & 1 2 4 .2M —4 . 1 —3*3 —0*6 —5*2 -3 * 8 " "—3 .1 - 4 .1 -2 7 8 H r. 7 - 3 .» - ¿ .4 - 1 .0 12-85 1 -6 6 2 -8 6 3 -8 6 4 -8 6 5-6 6 6—66 "" 124"* IP I N IT IA L MONTH P - PRELIM INARY PREPARED BY FEOERAL RESERVE BANK OF S T . LOUIS 7 r 1Z>*6 0 .3 “ - 0 • 1 3 -8 5 1257Z” 1 1 .Z PERSONAL R A T I O SCALE T R I L L I O N S OF DOLLARS INCOME MONTHLY TOTALS AT ANNUAL RA TFS SEASONALLY ADJUSTED R A T I O SCALE T R I L L I O N S OF DOLLARS 2. 2.2 2. 2.0 I. Î .8 I . 1 .6 1978 1979 1980 1981 1982 1983 1984 1985 1986 SOURCEt U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED» JULY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL ItflklTU 12-84 1-85 2-85 3-85 4-85 5-85 6-85 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 3 ,2 2 7 .3 1—85 3.9 2-85 8.0 12.2 3 ,2 5 8 .3 3 ,2 7 3 .8 3-85 7 .3 9 .0 5 .9 4-85 8.2 9.7 8 .5 11.1 5-65 5 .4 5.8 3 .8 2 .7 -5 .0 5.5 5.9 4 .4 3 .9 0 .4 7-85 5.3 5.5 4 .3 3 .9 1.5 5 .0 3 .9 8-85 4 .9 5.0 3 .9 3 .5 1 .6 3 .9 2 .9 1.9 9-85 4 .9 5.0 4 .0 3 .7 2 .3 4 .2 3 #6 3 .4 5 .0 10-85 5.3 5 .4 4 .6 4 .5 3 .4 5 .2 4 .9 5 .3 T .Ò 11-85 5.3 5.4 4 .7 4 .5 3 .6 5.2 5 .0 5 .2 6 .4 7 .1 12-85 6 .2 6.5 5 .9 5 .9 5.3 6 .8 7 .0 7 .6 9 .1 10.5 1-86 5 .7 5.9 5 .3 5 .3 4 .7 5 .9 5 .9 6 .2 7.1 7 .7 6-85 nit DOLLARS AMMIAf » A T M IN IT IA L MONTH 3 ,3 0 2 .7 3 ,2 8 8 .5 à , 304.9 6 .2 3 , 315. 4 " 3 ,3 2 0 .5 3 ,3 3 3 .9 3 ,3 5 0 .3 * .1 3 ,3 7 2 .3 5.1 3 ,4 1 8 .0 11.2 ~ T T . T 7 .2 8 .3 - 0 .2 3 ,4 1 7 .4 2-66 5.8 5.9 5 .4 5 .4 4 .8 6 .0 6 .0 6 .3 7 .0 7 .5 7 .0 7 .7 3.1 6 .5 3-86 5 .6 5.8 5 .3 5 .2 4 .7 5 .7 5.7 5 .9 6 .5 6 .8 6 .3 6 .6 3 .2 5 .0 4-86 6 .3 6 .4 6 .0 6 .0 5 .6 6 .7 6 .7 7 .0 7 .7 8.1 7 .9 8 .5 6 .3 8 .6 3 ,4 3 5 .3 3,445.1 3 .3 14.3 3 ,4 8 8 .8 5-86 5.8 5.9 5 .5 5 .5 5 .1 5 .9 5 .9 6 .1 6 .6 6 .8 6 .5 6 .7 4.> 6 .0 $ .8 t .Ó - 1 .6 6-86 5.5 5.6 5 .2 5 .2 4 .8 5 .5 5 .5 5 .6 6 .0 6 .2 5.8 5 .9 4 .1 4 .9 4.5 4 .* —0.4 Ó .* 3 ,4 8 4 .0 7-86 5 .5 5.6 5 .2 5 .2 4 .8 5 .6 * .5 $ .6 6 .0 4 .1 5.8 5 .8 4 .3 ¿.0 4 .8 5 .1 1 .6 3.fc 5 .6 12-84 1-85 2-85 3-85 4-85 5-85 6-85 7-85 8-85 9-85 10—85 11-85 12-85 1-86 2-86 3-86 4-86 5-66 6-86 3 ,4 6 6 .6 3 ,5 0 Z .5 P IN IT IA L MONTH P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 8 RETAIL SALES R A T I O SCALE B I L L I O N S OF DOLLARS 1978 1979 R A T I O SCALE B I L L I O N S OF DOLLARS SEASONALLY ADJUSTED 1980 1981 1982 1983 1984 1985 1986 SOURCE: U .S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: JUNE, JULY ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS R ET A IL SALES COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH 12-84 1-85 4*8 2-85 3-85 4-85 5-85 6-85 7-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 111,935 2-85 10*6 16*6 7 .2 8 .4 0 .7 4-85 11*8 14.3 13.1 27.1 111,999 114,256 113,992 5-85 8 .7 9.8 7 .6 11.2 - 2 .7 6-85 6 .3 6 .5 4 .2 5 .4 -4 .1 - 5 .4 7-85 7 .1 7.5 5 .8 7 .1 1.2 3 .2 113,468 114,598 12.6 8-85 8 .6 9.1 7 .9 9 .4 5 .4 8 .3 15.8 19.1 9-85 11.1 11.9 11.3 13.1 10.5 14.1 2 1 .5 26.1 5 .2 8-85 110,511 3-85 10-85 MILLIO NS OF DOLLARS IN IT IA L MONTH 1-85 5.2 3*8 4 .3 0 .9 1 .7 3 .5 116,276 3 3 .6 119,116 0 .7 -7 .5 -35.9 114,785 -2 .9 -17 .2 7 .0 115,433 11-85 5 .3 5.4 4 .2 4 .6 1.8 2 .5 4 .2 2 .2 12-85 6 .2 6.3 5 .3 5 .8 3 .4 4 .4 6 .1 4 .8 1.5 - 7 .4 11.4 15.9 1-86 6 .1 6.2 5 .3 5 .8 3 .6 4 .4 5.9 4 .9 2 .2 - 4 .4 9 .2 1 0 .4 116,861 117,349 5 .1 117,200 2-86 5 .5 5.6 4 .7 5.1 3 .1 3 .8 5 .0 3 .9 1 .6 - 3 .8 6 .4 6 .3 1*8 -1 .5 3-86 4 .8 4 .8 3 .9 4 .2 2 .3 2 .8 3 .8 2 .7 0 .6 - 4 .0 4 .0 3 .3 - 0 .6 - 3 .4 -5 .2 4 .4 4 .7 3 .0 3* 6 4 .5 3 .6 1.9 - 2 .0 5.2 4 .8 2 .2 1*3 2 .7 11.1 116,684 117,715 5 .2 5.2 5-86 5 .5 5.5 4 .8 5 .1 3 .6 4 .1 5 .0 4 .3 2 .8 —0 .6 5*9 5 .7 3 .8 3*4 5 .1 10.7 10.2 6-86 5 .1 5.1 4 .4 4 .7 3 .3 3 .7 4 .5 3 .8 2 .4 - 0 .6 5 .0 4 .8 3 .0 2*6 3 .6 6 .7 4 .6 - 0 .7 7-86 4 .9 4 .9 4 .2 4 .4 3.1 3 .5 4 .2 3 .6 2 .3 - 0 .4 4 .6 4 .3 2 .7 2*3 3 .1 5.2 3 .4 0 .1 0 .9 12-84 1-85 2-85 3-85 4-85 5-85 6-85 7-Ö5 8-85 y —85 10-65 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 4-86 IN IT IA L MONTH P- PRELIM INARY E- ESTIMATED AUGUST 18, 1986 9 118,675 118,602P 118,690E HOURLY COMPENSATION, BU S IN ES S SECTOR COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL__________________________________________________________________ IN IT IA L QUARTER_______________________________________________________________ 1977«!00 QUARTER 1-86 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-65 4-85 3-81 4-81 1-82 2-82 3-82 4-82 4-81 6 .5 147.6 151.3 1-82 8 .4 10.4 2-82 7 .9 8.6 6 .8 3-62 7.8 8.2 7 .1 7 .5 4-82 7 .1 7.2 6 .2 5 .9 4 .4 153.8 156.6 158.3 1-83 6 .6 6 .6 5 .7 5 .3 4 .3 4 .1 2-83 6 .0 5.9 5 .0 4 .6 3 .7 3 .3 2 .5 159.9 3-83 5 .4 5.3 4 .4 4 .0 3 .1 2 .7 2 .0 1.5 4-83 5 .4 5.3 4 .6 4 .2 3 .6 3 .3 3.1 3 .4 5.3 1-84 5 .4 5.3 4 .7 4 .4 3 .9 3 .8 3 .8 4 .2 5 .5 5 .7 2-84 5.2 5.1 4 .5 4 .2 3.8 3 .7 3.6 3 .9 4 .6 4 .3 2 .9 167.1 4 .6 4 .4 3.8 4 .6 169.0 160.9 161.5 163.6 165.9 3-84 5.2 -5»Q__ 4 .5 4 .3 3 .9 3 .8 3.8 4 .0 4-84 5 .1 4.9 4 .5 4 .2 3 .9 3 .8 3.8 4 .0 4 .5 4 .3 3.8 4 .2 3 .8 1-85 5 .0 4.9 4 .4 4 .2 3 .9 3 .8 3.8 4 .0 4 .4 4 .2 3 .9 4 .2 3 .9 4 .0 5 .0 _ 4.9 4 .5 4 .3 4 .0 4 .0 4 .0 4 .1 4 .5 4 .4 4 .1 4 .4 4 .4 4 .6 5 .2 2-65 170.6 172.3 174.5 3-65 5 .0 4 .9 4 .5 4 .3 4 .0 4 .0 4 .0 4 .2 4 .5 4 .4 4 .2 4 .4 4 .4 4 .6 4 .8 4 .4 4-85 4 .9 4 .8 4 .4 4 .3 4 .0 4 .0 4 .0 4 .1 4 .4 4 .3 4 .1 4 .3 4 .2 4 .3 4 .4 4.1 3 .7 1-86 4^8 4 .7 4 .3 4 .1 3 .9 3 .9 3 .9 4 .0 4 .2 4 .1 3 .9 4 .0 3 .9 4 .0 3 .9 3.5 3 .1 2 .5 2-86 4 .6 4 .5 4 .2 4 .1 3 .8 3 .8 3.8 3 .9 4 .1 4 .0 3 .8 3 .9 3 .8 00 • 3 .7 3 .3 3 .0 2 .6 2 .7 3-81 4-81 1-82 2-82 3-82 4-62 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 4-85 1-86 176.4 178.0 179.1 160.3 I N IT IA L QUARtER OUTPUT PER HOUR OF ALL PERSONS, BU SIN ESS SECTOR _________ COMPOUNDED ANNUAL RATES OF CHANGE_________ IN IT IA L QUARTER TERMINAL QUARTER 3-81 4-8 4—A I - 5 .4 1-fl? —2-9 - 0 .4 2-82 - 1 .4 0 .6 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-64 1977*100 2-64 3-84 4-64 1-85 2-85 3-85 9 9 .9 9 9 .8 1 .6 100.2 3-62 - 1 .0 0.5 1 .0 0 .4 4-62 - 0 .2 1.1 1 .6 1 .6 2 .8 100.3 1-83 0 .4 1.6 2*1 2 .3 3 .2 3 .6 2-83 1 .2 2.4 3 .0 3 .3 4 .3 5 .0 6 .4 101.0 101.9 103.5 103.0 3-83 0 .8 1.8 2 .1 2 .2 2 .7 2 .6 2 .2 - 1 .9 4-83 1 .1 1 *? 2 .3 2 .4 2.8 2 .8 2 .5 0 .6 3 .1 1-64 1 .4 2 .2 2 .5 2 .7 3 .0 3 .1 2 .9 1.8 3 .7 2-64 1.5 2.2 2 .5 2 .7 3 .0 3 .0 2 .9 2 .0 3 .4 3 .5 2 .7 3-84 1 .4 2 .0 2 .2 2 .3 2 .6 2 .5 2 .3 1.5 2 .4 2 .2 1.1 - 0 .4 4-84 1.3 1.8 _ 2 .0 2 .1 2 .3 2 .2 2 .0 1.3 1 .9 1.6 0 .8 - 0 .2 0 .0 103.8 104.9 4 .3 105.6 105.5 105.5 105.7 1-85 1 .2 1.8 1 .9 2 .0 2 .1 2 .0 1.8 1.2 1.7 1.5 0 .8 0 .1 0 .4 0 .8 2-65 1.3 1.8 2 .0 2 .0 2 .2 2 .1 1 .9 1 .4 1.9 1 .7 l.l 0 .8 1 .1 1.7 2 .7 3-65 1.4 1.9 2 .1 2 .1 2 .3 2 .2 2 .1 1 .6 2 .1 1.9 1 .5 1 .3 1 .7 2 .3 3 .1 3 .4 4-65 1 .2 _ 1.6 1.7 1 .7 1.8 1.8 1 .6 1.1 1 .5 1.2 0 .8 0 .5 0 .7 0 .9 0 .9 0 .0 106.4 107.3 106.4 - 3 .3 1-86 __1.3 1 .7 1.8 1.8 1.9 1.9 1.7 1.3 1.6 1.5 1.1 0 .9 _ 1 .1 1 .4 1 .5 1 .1 0 .0 3 .4 2-66 1.3 U1 1 .6 1.8 1.9 1.9 1.7 1 .3 1 .6 1.5 1.2 1 .0 1 .2 1 .4 1 .5 1.2 0 .5 2 .5 1.5 3-81 4-61 1-82 2-82 3-82 4-82 1-63 2-83 3-83 4-83 1-64 2-84 3-84 4-84 1-65 2-85 3-85 4-85 1-86 107.3 107.7 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LO UIS AUGUST 6 , 1986 10 P R O D U C T IV IT Y , C O M P E N S A T IO N , RATIO SCALE 1977-100 AND LABO R CO STS RATIO SCALE 1977-100 SEASONALLY ADJUSTED SOURCEt U.S. DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt 2ND OOARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS U N IT LABOR COSTS, BUSINESS SECTOR ____ _________________ COMPOUNDED ANNUAL RATES OF CHANGE______________________ 1977*100 2 5 it I N I T I A L QUARTER QUARTER 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 1 -6 4 2 -8 4 3 -8 4 4 -8 4 1 -8 5 2 -8 5 3 -8 5 4 -8 5 1 -6 6 1 4 7 .8 4 -6 1 1 2 .5 1 -6 2 1 1 .5 1 0 .4 2 -8 2 9 .4 7 .9 1 5 1 .5 1 5 3 .5 5 .4 1 5 6 .2 3 -6 2 8 .9 7 .6 6 .3 7 .2 4 -6 2 7 .3 6 .1 4 .7 4 .3 1 .5 1 -6 3 6 .1 4 .8 3 .5 2 .9 0 .8 0 .0 1 5 6 .8 1 5 6 .8 1 5 5 .5 2 -6 3 4 .7 3 .4 2 .1 1 .3 -0 .6 -1 .7 -3 .3 3 -6 3 4 .5 _ 3 .4 2 .3 1 .7 0 .4 0 .0 0 .0 3 .4 4 -6 3 4 .3 3 .3 2 .3 1 .8 0 .8 0 .6 0 .8 2 .8 2 .3 1 5 6 .8 1 5 7 .7 1 -6 4 4 .0 _ 3 .1 2 .2 1 .7 0 .9 0 .7 0 .9 2 .3 1 .8 1 .3 2 -8 4 3 .6 2 .8 2 .0 1 *6_ 0 .8 0 .6 0 .8 1 .8 1 .3 0 .8 0 .3 3 -8 4 3 .7 3 .0 2 .3 1 .9 1 .3 1 .2 1 .4 2 .4 2 .2 2 .1 2 .5 1 5 8 .2 1 5 8 .3 4 .9 1 6 0 .2 4 -6 4 3 .7 3 .0 2 .4 2 .1 1 .5 1 .6 1 .8 2 .6 2 .5 2 .5 3 .0 4 .3 3 .8 1 -8 5 3 .7 3 .1 2 .5 2 .2 1 .7 1 .8 2 .0 2 .8 2 .7 2 .7 3 .1 4 .1 3 .7 3 .5 2 -8 5 3 .6 3 .0 2 .5 2 .2 1 .8 1 .8 2 .0 2 .7 2 .6 2 .6 2 .9 ? .6 3 .2 2 .9 1 6 1 .7 1 6 3 .1 2 .2 1 6 4 .0 3 -8 5 3 .5 2 .9 2 .4 2 .1 1 .7 1 .7 1 .9 2 .5 2 .4 2 .4 2 .6 3 .1 2 .6 2 .2 1 .6 1 .0 4 -6 5 3 .7 3 .1 2 .7 2 .5 2 .1 2 .2 2 .4 3 .0 2 .9 3 .0 3 .2 3 .8 3 .5 3 .5 3 .4 4 .1 7 .2 1 -8 6 3 .4 2 .9 2 .5 2 .3 1*9 2 .0 2 .1 2 .6 2 .6 2 .6 2 .7 3 .1 2 .8 2 .6 2 .4 2 .4 3 .2 -0 .7 2 .5 2 .3 2 .1 2 .1 2 .4 0 .1 1 .0 3 -8 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -8 5 1 -8 6 2 -8 6 3 .3 2 .8 2 .4 2 .2 1 .9 1 .9 2 .0 2 .5 2 .4 2 .4 2 .5 2 .8 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 1 -6 4 2 -8 4 1 6 4 .4 1 6 7 .3 1 6 7 .0 1 6 7 .4 IN I T I A L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST* LO U IS AUGUST 6 , 1986 11 GROSS NATIONAL PROOUCT IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAL OUARTFR 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 4-81 1.9 1-62 0 .8 - 0 .2 2-62 2 .6 2 .9 6 .2 3-62 2 .6 2.8 4 .3 2 .5 4-62 2 .9 3.1 3 .4 4 .2 1-63 3 .5 3 .9 4 .9 4 .5 5*5 6 .8 2-63 4 .8 5.3 6 .5 6 .6 6 .0 9 .9 13.0 3-63 5 .4 5 .9 7 .1 8 .3 9 .7 11.2 9 .4 4-63 6 .2 6 .7 7 .7 8 .0 9 .1 10.4 11.6 10.9 12.4 1-64 7 .0 7 .6 8 .6 9 .0 10.1 11.3 12.4 12.2 13.6 14.9 2-64 7 .1 7 .6 6 .6 8 .9 9 .8 10.7 11.5 11.2 11.8 11.5 1-84 2-64 3-84 4-84 1-85 2-65 3-65 4-85 1-66 3 *1 1 4 .4 3 ,1 1 2 .6 3 *1 59 .5 3 ,1 7 9 .4 3 ,2 1 2 .5 3 ,2 6 5 .6 3 ,3 6 7 .4 3 ,4 4 3 .9 3 ,5 4 5 .8 3 ,6 7 0 .9 8 .2 3 ,7 4 3 .8 3-64 7 .0 7 .5 8#3 • 00 9 .3 10.1 10.6 10.1 10.3 9 .7 7 .1 6 .1 4-84 6 .9 7.3 9 •0 6 .2 8 .8 9 .4 9.8 9 .3 9.2 8.5 6 .4 5 .5 4 .9 1-65 6 .9 7 .2 7 .9 8*1 8 .6 9 .1 9 .4 8 .9 8.8 8.1 6 .5 5 .9 5 .9 6 .8 2-85 6 .8 7 .1 7 .7 7 .9 8 .4 8.8 9 .0 8 .5 8.4 7 .7 6 .4 5 .9 5 .8 6 .3 5 .8 3-65 6 .8 7.1 7 .7 7 .8 8 .2 8 .6 8.8 8 .3 8.2 7 .6 6 .4 6 .1 6 .1 6 .5 6 .3 6 .8 4-65 6 .7 7 .0 7 .5 7 .6 o • 00 8 .4 8 .5 8.1 7 .9 7 .4 6 .3 6 .0 6 .0 6 .3 6 .1 6.3 5 .8 1-86 6 .7 7 .0 7 .5 7 .5 7 .9 8 .2 8.3 7 .9 7.7 7 .2 6 .3 6 .1 6 .0 6 .3 6 .1 6.2 6 .0 6 .2 2-86 6 .5 6 .8 7 .2 7 .6 7 .8 7 .9 7 .5 7.3 6 .8 5 .9 5 .7 5 .6 5 .7 5 .5 5 .4 5 .0 4 .6 4-Ô1 1=31 2~92 ìr.92 *=3.2 lrfl? 2 - ?? Sz? 3 2-84 3-84 4-84 1-85 2-85 3-85 4-85 3 ,7 9 9 .7 3 ,8 4 5 .6 3 ,9 0 9 .3 3 ,9 6 5 .0 4 ,0 3 0 .5 4 ,0 8 7 .7 4 ,1 4 9 .2 3 .0 4 ,1 7 9 .8 IN IT IA L QUARTER GROSS NATIONAL PRODUCT IN 1982 DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL B IL L IO N S OF DOLLARS IN IT IA L QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-63 4-61 - 5 .5 1-62 - 5 .7 - 5 .9 2-62 - 3 .4 - 2 .4 1.2 3-62 - 3 .4 - 2 .7 - 1 .0 - 3 .2 4-62 —2 *6 - 1 .9 - 0 .5 -1 .3 0 .6 1-63 -1 .6 -0 .8 0 .5 0 .3 2 .0 3 .5 2-63 -0 .1 0 .8 2 .2 2 .5 4 .4 6 .4 9 .3 7 .7 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 3 ,2 1 9 .0 3 ,1 7 0 .4 3 ,1 7 9 .9 3 ,1 5 4 .5 3 ,1 5 9 .3 3 ,1 8 6 .6 3 ,2 5 8 .3 3-63 0 .6 1.5 2 .8 3 .2 4 .8 6 .3 4-63 1 .4 2 .2 3 .5 3 .8 5 .3 6 .5 6 .7 1-64 2 .2 3.1 4 .2 4 .7 6 .0 7.2 7 .7 2-84 2 .4 3.3 4 .3 4 .7 5 .9 6.8 7 .5 7 .0 7 .4 7 .4 5 .0 3-64 2 .4 3 .2 4 .1 4 .5 5 .4 6 .2 6 .6 6 .1 6.1 5.7 3.7 2 .3 4-64 2 .3 3 .0 3 .9 4 .2 5 .0 5 .6 5 .3 5.1 4 .6 2 .9 1 .9 1 .5 1-65 2 .4 3.0 3 .8 4 .1 4 .8 5 .3 5.0 4.8 4 .3 3 .0 2 .3 2 .3 3 .1 2-85 2 .4 3 .0 3 .7 3 .9 4 .6 5 .0 5.1 4 .6 4 .4 4 .0 2 .8 2 .3 2 .3 2 .7 2 .3 3-65 2 .5 3 .1 3 .7 3 .9 4 .5 4 .9 5.0 4 .6 4 .4 4 .0 3 .1 2 .7 2 .7 3 .2 3 .2 4 .1 4-85 2 .5 3 .0 3 .6 3 .8 4 .3 4 .7 4 .8 4 .3 4 .1 3.8 2 .9 2 .6 2 .6 2 .9 2 .8 * .t 1-86 2 .5 3 .0 3 .6 3 .8 4 .3 4. 6 4 .7 4 .3 4.1 3 .8 3 .0 2 .7 2 .8 i.i J.l 2 .9 3 .8 2-86 2 .4 2.9 3 .4 3 .6 4 .1 4 .3 4 .4 4 .0 3 .4 2 .7 2 .5 2 .5 2 .7 2 .6 2 .6 2 .1 2 .2 0 .6 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 6 .0 3 ,3 0 6 .4 3 ,3 6 5 .1 7.3 9 .8 3-83 3 ,4 4 4 .7 3 ,4 8 7 .1 3 ,5 0 7 .4 3 ,5 2 0 .4 3 ,5 4 7 .0 3 ,5 6 7 .6 3 ,6 0 ^ .8 3 ,6 2 2 .3 2 .1 3 ,6 5 5 .9 3 ,6 6 1 .5 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS “AUGUST 1*, 1*0* 12 GROSS N A T I O N A L P RODUCT RA T IO SCA LE QUARTERLY TOTALS AT ANNUAL RATES RA T IO S C A L E T R I L L I O N S OF DOLLARS SEASONALLY ADJUSTED T R I L L I O N S OF DOLLARS 1978 1979 1980 1981 1982 1983 1984 1985 1986 SOURCE: U .S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED« 2ND QUARTER PREPARED 13 BY FED ERA L RESERVE BANK OF ST. L O U IS GENERAL PRICE INDEX* R A T I O SCALE 1978 R A T I O SCALE 1979 1980 1981 1982 1983 *AS USED IN NATIONAL INCOME ACCOUNTS 1984 1985 1986 SOURCE* U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt 2ND QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS COMPOUNDED ANNUAL RATES OF CHANGE 1982 ■ 100 IN IT I A L QUARTER TERMINAL QUARTER 3 -8 1 4 -6 1 4 -8 1 1-82 2 -8 2 3 -8 2 4 -8 2 1-83 2-83 3-83 4 -8 3 1 -8 4 2-8 4 4 -8 4 1-85 2-8 5 3 -8 5 4-8 5 1-8 6 9 6 .8 6 .4 5 .4 «0 » 7 .1 2 -6 2 9 9 .4 5 .0 100*8 3 -6 2 6 .2 5 .5 5 .4 5 .8 4 -8 2 5 .7 5 .1 4 .8 4 .7 3 *6 1 -6 3 5 .3 4 .7 4 .4 4 .2 3 .4 3 .2 2 -6 3 5 .0 4 .4 4 .1 3 .9 3 .3 3 .2 3 .2 3 -6 3 4#8 4 .3 4 .0 3 .8 3 .4 3 .3 3 .3 1 0 1 .7 102*5 1 0 3 .3 1 0 4 .2 3 .5 1 0 5 .4 4 .8 4 .3 4 .1 4 .0 3 .6 3 .6 3 .8 4 .1 1 -6 4 4 .8 4 .4 4 .2 4 .1 3 .8 3 .8 4 .0 4 .3 4 .7 4#6 2 -6 4 4 .6 4 .2 4 .1 3 .9 3 .7 3 .7 3 .8 4 .0 4 .1 3 .8 3 .0 3 .9 3 .9 3 .7 3 .2 3 .4 4 .2 4 .0 3 .9 3 .7 4 -6 4 4 .4 4 .1 3 .9 3 .8 1 -8 5 4 .4 4 .1 3 .9 CD 4 .5 w • 4 -6 3 4 .7 1 0 6 .6 1 0 7 .4 1 0 6 .3 3 .7 3 .7 3 .6 3 .6 3 .7 3 .8 3 .8 3 .6 3 .3 3 .4 3 .4 3 .6 3 .6 3 .7 3 .8 3 .8 3 .6 3 .4 3 .5 3 .5 3 .6 3 .4 3 .4 3 .5 3 .5 3 .3 3 .4 3 .2 3 .3 3 .2 3 .2 2 .9 2 .5 109*2 110*2 3 .7 111*1 2 -6 5 4 .3 4 .0 3 .9 3 .8 3 .6 3 .6 3 .6 3 .7 3 .7 3 -6 5 4 .2 3 .9 3 .8 3 .7 3 .5 3 .5 3 .5 3«6 3 .6 4 -6 5 4 .1 3 .9 3 .8 3 .7 3 .5 3 .5 3 .5 3 .6 3 .6 3 .5 3 .3 3 .3 3 .3 3 .3 3 .2 3 .1 3 .6 1 -6 6 4 .1 3 .8 3 .7 3 .6 3 .4 3 .4 3 .5 3 .5 3 .5 3 .3 3 .2 3 .2 3*2 3 .1 3 .0 2 .9 3*1 2 .5 2 .8 2 .9 2 .5 2 .5 2 -8 5 3 -8 5 4 -6 5 1-86 2 -6 6 4 .0 3 .7 3 .6 3 .5 3 .4 3 .4 3 .4 3 .4 3 .4 3 .3 3 .1 3 .1 3 .1 3 .0 2 .9 3-8 1 4 -8 1 1-8 2 2 -8 2 3 -8 2 4 -8 2 1-63 2-83 3-6 3 4 -8 3 1-8 4 2 -8 4 3 -6 4 4 -6 4 1-85 N 1 -8 2 5 .9 3 -6 4 3 -8 4 8*3 111*8 112*6 113*5 1 1 4 .2 IN IT I A L QUARTER PREPARED BY FEDERAL RESERVE BANK Of S T . LOUIS AUGUST 19, 1986 14 COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 1 ,9 6 0 .2 4-81 4 .0 1-82 5.8 7 .6 2-82 5 .7 6 .6 5 .6 1 ,9 9 6 .3 2 ,0 2 3 .8 2 ,0 6 5 .6 3-82 6 .4 7.2 7 .1 8 .5 4-82 7 .2 8.0 8*1 9 .4 10.3 1-83 6 .9 7 .5 7 .5 8 .2 8 .0 2 ,1 1 7 .0 2 ,1 4 6 .6 5 .7 2 ,2 1 3 .0 2-83 7 .8 8 .4 8 .6 9 .3 9 .6 9 .3 13.0 3-83 8 .0 8.5 8 .7 9 .3 9.5 9 .3 11.1 9.3 4-83 8.2 8.7 8 .9 9 .4 9 .6 9 .4 10.6 9 .5 9 .7 2 ,2 6 2 .8 2 ,3 1 5 .8 2 ,3 6 3 .8 1-84 8 .2 8.7 8 .8 9 .3 9 .4 9 .2 10.1 9.2 9 .1 8.6 2-84 8.3 8.7 8 .9 9 .3 9 .4 9 .2 9 .9 9.2 9 .1 8.8 9.1 3-84 8 .0 8 .4 8 .5 8 .8 8.8 8 .6 9.1 8 .3 8.1 7.5 7 .0 5 .0 4-84 7 .9 8.3 7 .9 7 .4 7 .0 6 .0 8 .3 8 .6 8 .6 8 .4 8 .8 8.1 2 ,4 1 6 .1 2 ,4 4 5 .6 2 ,4 8 7 .2 7 .0 7 .9 8.2 8.2 8 .5 8 .5 8 .3 8 .6 8 .0 7 .8 7 .4 7.1 6 .4 7 .1 7 .2 7 .8 8.1 8 .2 8 .4 8 .4 8.2 8 .4 7 .9 7 .7 7 .4 7.1 6 .6 7 .2 7 .3 7 .3 3-85 7 .9 8.1 8 .2 8 .4 8.3 8 .2 8 .4 7 .9 7 .7 7 .5 7 .3 6 .9 7 .4 7 .6 7 .7 4-85 7 .8 8.0 8 .0 8 .2 8 .2 8 .0 8.2 7 .8 7 .6 7.3 7.2 6 .8 7 .2 7 .3 7 .3 7 .3 6 .4 1-86 7 .6 7.8 7 .8 o • CO 2 ,5 3 0 .9 1-85 2-85 7 .9 7 .7 7 .9 7 .5 7 .3 7 .0 6.8 6 .5 6 .8 6 .7 6 .6 6 .4 5 .5 4 .6 2-86 7 .5 7 .7 7 .7 7 .8 7.8 7 .6 7 .7 7 .3 7 .1 6.9 6 .7 6 .4 6 .6 6 .5 6 .4 6 .2 5 .5 5.1 5 .7 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2 ,5 7 6 .0 2 ,6 2 7 .1 8 .2 2 ,6 6 7 .9 2 ,6 9 7 .9 2 ,7 3 5 .3 IN IT IA L QUARTER PEtePNAl ÇON$ALHPHON_^PENOITVR^? W COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER PpVAtARA. B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2 ,0 2 0 .0 4-81 -2 .2 1-82 0 .0 2.2 2 ,0 3 1 .2 2-82 0 .6 2.1 1.9 3-82 1 .0 2.1 2 .0 2 .1 4-82 1.9 2.9 3 .1 3 .7 5.3 2 ,0 4 1 .0 2 ,0 5 1 .8 2 ,0 7 8 .7 1-83 2.0 2 .9 3.1 3 .5 4 .2 3 .0 2-83 2 .9 3.8 4 .1 4 .6 5 .4 5 .5 8 .0 3-83 3.2 4 .0 4 .3 4 .8 5 .4 5 .4 6 .7 2 ,0 9 4 .2 2 ,1 3 5 .1 5 .3 2 ,1 6 3 .0 4-83 3 .4 4 .2 4 .4 4 .9 5 .4 5 .4 6 .3 5.4 5 .5 1-84 3 .5 4 .2 4 .4 4 .8 5 .2 5 .2 5 .7 4 .9 4 .8 4 .1 2-84 3 .7 4 .3 4 .6 4 .9 5.3 5.3 5.8 5.2 5 .2 5.0 6 .0 3-64 3.5 4.1 4 .2 4 .5 4 .8 4 .7 5 .0 4 .4 4 .2 3 .8 3 .6 1 .3 4-64 3 .5 4 .0 4 .2 4 .4 4 .6 4 .5 4 .8 4 .2 4 .0 3 .6 3 .5 2 .3 3 .5 1-85 3 .5 4 .0 4 .1 4 .3 4 .5 4 .4 4. 6 4 .1 3 .9 3 .6 3 .5 2 .7 3 .5 3 .7 2-85 3 .5 3.9 4 .1 4 .2 4 .4 4 .3 4 .5 4 .1 3 .9 3 .5 3-85 3 .6 4 .0 4 .2 4 .3 4 .5 4 .4 4 .6 4 .2 4 .1 4-65 3 .5 3.9 4 .0 4 .1 4 .3 4 .2 4 .3 3 .9 3 .8 1-86 3 .5 3.9 4 .0 4 .1 4 .2 4 .2 4 .2 3 .9 3 .8 2-86 3 .7 4 .0 4 .1 4 .2 4 .4 4 .3 4 .4 4 .1 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 2 ,1 9 1 .9 2 ,2 1 3 .8 2 ,2 4 6 .3 2 ,2 5 3 .3 2 ,- ^ t.t 2 ,2 9 2 .3 2 ,3 1 1 .9 3*5 2 .9 3 .5 3 .6 3 .9 3.8 3 .4 3 .9 4 .1 4 .4 5.3 3 .6 3.5 3 .1 3 .5 3 .5 3 .5 3 .5 1 .7 3 .6 3.5 3 .2 3 .5 3 .5 3 .5 3 .5 2 .6 3 .6 4 .0 3 .9 3 .9 3 .6 3 .9 4 .0 4 .1 4 .3 3 .* 5.1 6 .5 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-65 1-66 3 .6 2 ,3 4 2 .0 2 ,3 5 1 .7 2 ,3 7 2 .7 2 , 4 Ì0 . 4 IN IT IA L QUARTER PREPAREO BY FEDERAL RESERVE BANK OF S T . LO UIS 15 G R O S S PRIVATE D O MESTIC INVESTMENT IN CURR E N T DOLL A R S COMPOUNDED ANNUAL RATES OF CHANGE B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAL QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 4-ei -21 .8 504.0 1-62 -26.5 - 3 0 .9 4 59.5 2-82 -1 6 .6 -1 3 .8 467.8 52.2 3-82 -1 5 .6 -1 3 .5 4-82 -1 9 .3 -1 8 .7 -1 4 .2 -2 3 .3 -3 2 .7 1-83 -1 3 .9 - 1 2 .2 - 3 .2 -1 2 .7 - 6 .8 -1 1 .1 -10.3 409.6 19.6 428.3 2-83 —6 . 0 -3 .0 3.8 3-83 -1 .5 1.8 8 .6 8 .8 14.9 37.4 47.2 35.9 4-83 3 .6 7.3 14.2 15.4 22.0 41.6 49.8 45.1 54.9 1-84 8 .7 12.7 19.8 21.7 28.6 4 6 .4 54.0 52.2 61.0 2-84 7 .7 11.2 17.3 18.6 23.8 37.1 40.9 36.6 36.8 28.6 -1.2 3-84 7 .7 10.9 16.3 17.3 21.8 32.5 34.8 30.3 2 9 .0 21.3 3.3 4-84 6 .7 9.5 14.1 14.8 18.4 27.0 28.2 23.6 21.2 * 16.2 9 .7 12.3 59.5 481.3 12.7 15.7 22.8 23.2 18.8 5 19.7 579.8 67.4 6 59.5 657.5 8.Ó 670.3 • 8.2 38.1 1 .1 —5 .4 -1.3 - 1 .4 -5.8 o 5 .7 8 .7 o 1-85 2 .9 661.1 —6 .2 650.6 2-85 6 .0 8.3 12.2 12.6 15.2 21.5 21.8 17.7 15.3 9.8 0 .9 1.5 - 0 .6 1.8 10.5 3-85 5 .2 7 .3 10.8 11.0 13.3 18.8 18.7 14.9 12.5 7 .4 -0.2 0 .0 - 1 .9 - 0 .7 2 .1 - 5 .7 4-85 5 .4 7 .4 10.6 10.8 12.8 17.8 17.6 14.1 11.9 7 .5 0 .9 1.2 -0 .1 1.3 3 .9 0 .7 7 .6 1-86 6 .4 8.3 11.4 11.7 13.7 18.4 18.3 15.1 13.2 9 .3 3 .6 4 .3 3 .7 5 .7 8 .* 8 .3 16.1 2-86 5.3 7 .0 9 .8 10.0 11.7 15.8 15.5 12.5 10.5 6 .9 1.7 2 .0 1 .2 2 .4 4 .2 2 .6 5 .6 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 667.1 6 5 7 .4 669.5 25.3 7 08.3 4 .6 -1 2 .7 4-85 6 84.7 1-86 IN IT IA L QUARTER GROSS PRIVATE PQHESTK INVESTHEN1 IN I W2 PP H ARS COMPOUNDED ANNUAL RATES OF CHANGE B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAL QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-64 4-84 1-85 2-85 3-85 4-85 1-86 4-81 - 2 7 .2 517.9 1-82 -3 1 .5 -3 5 .5 464.2 2-82 -2 1 .5 -1 8 .5 3-82 - 2 0 .0 - 1 7 .4 2 .9 467 .5 4-62 -2 2 .3 -2 1 .1 -1 5 .6 - 2 3 .5 -3 1 .0 1-83 - 1 6 .6 - 1 4 .3 4 4 8 .6 —6 .6 -1 5 .2 - 8 .0 - 1 1 .4 408.8 427.1 - 9 .4 19.1 2-83 - 7 .7 - 4 .0 3 .9 4 .1 11.5 41.9 68.9 3-63 - 3 .3 0.8 8 .5 9 .7 17.0 39.5 51.0 35.0 4-63 1 .3 5.6 13.3 15.1 22.3 41.2 4 9 .4 40.5 46 .3 1-64 6 .0 10.6 18.3 2 0 .6 2 8 .0 44.8 52.0 4 6 .8 53.1 60.1 2-64 5 .5 9 .5 16.1 1 7 .9 23 .6 36.2 39 .9 33.4 3 2 .9 26 .7 0 .2 21.2 31.4 33.5 2 7 .4 2 5 .6 19.3 3 .0 4 8 6 .9 524.8 577.2 649.3 649 .7 6 58.9 3-64 5 .5 9 .2 15.0 16.5 4-64 4*6 7 .9 13.0 14.1 17.9 26.1 27.1 21.2 18.7 12.6 0 .1 0 .1 - 5 .4 1-65 3 .8 6 .6 11.2 12.0 15.1 21.9 22.2 16.7 13.9 8 .4 -1 .7 - 2 .4 - 6 .2 - 7 .0 2-65 4 .3 7 .0 11.2 11.9 14.8 20.8 21.0 16.0 13.6 8.9 0 .8 0 .9 - 0 .7 1.8 5.8 6 49.9 6 38.2 655.6 11.4 643.8 3-85 3 .5 6 .0 9 .8 10.3 12.8 18.0 17.8 13.2 10.8 6 .4 - 0 .6 - 0 .7 - 2 .3 - 1 .2 1.8 - 7 .0 4-65 3 .7 6 .0 9 .5 10.0 12.3 16.9 16.7 12.5 10.2 b* A 0 .3 0 .4 - 0 .7 0 .5 3 .1 -0 .7 6 .0 1-66 4 .5 6 .8 10.2 10.7 12.8 17.2 17.0 13.2 11.2 7.8 2 .6 3 .0 2 .5 4 .2 7 .2 5.8 1 2 .9 2-86 5.5 8 .6 9 .0 10.8 14.6 14.3 10.6 8 .6 5.5 0 .7 0 .7 0 .0 1 .0 2 .6 0.5 3 .2 3-81 „.♦=81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-63 1-84 2-84 3-84 4-64 1-85 2-85 3-85 3 .5 653.2 664.0 20.2 1.8 - 1 3 .7 4-65 659.2 1-86 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST . LOUIS 16 G O V E R N M E N T P U R C H A S E S OF GOODS AND SERVICES IN CU R R E N T DOLL A R S COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER B IL L IO N S OF DOLLARS ANNUAL RATES 1-86 IN IT IA L QUARTER 3-81 4-81 4-81 15.3 1-82 10.5 5 .9 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 6 13.3 6 22.1 2-82 7 .7 4.1 2 .3 3-82 9 .3 7 .4 8 .2 14.4 4-82 10.7 9.5 10.8 15.3 6 2 5 .7 647.1 6 71.8 16.2 1-83 el4 771 774 971 676 -2.2 ¿-0 3 7.0 6«6 6*0 7 .9 5 .0 1.0 3-83 7 .2 6* 1 6 .2 7 .0 5.2 1.8 4-83 6 .1 5.0 4 .9 5 .3 3 .6 0 .6 1-84 6 .5 5.6 5 .6 6 .0 4 .7 2 .5 2-84 8 .1 7 .4 7 .6 8 .3 7 .4 6 .0 3-84 7 .9 7.3 7 .4 o • 00 7 .2 4-84 8 .1 7 .6 7 .7 8 .3 1-85 8.1 7 .6 7 .7 8 .2 2-85 8.3 7 .9 8 .0 8 .5 “ “ ¿66.1 675 .Z 4 .3 6 8 0 .7 3 .3 0 .3 - 2 .7 3 .6 3 .7 10.5 7 .7 8 .6 10.4 17.6 25.2 6 .0 7 .4 8 .0 9 .3 13.6 15.1 5 .9 7 .6 6 .6 7 .9 8 .5 9 .6 12.9 13.7 8 .4 11.0 7 .6 6 .7 8 .4 9 .3 11.8 12.1 8 .1 9 .2 7 .5 8 .0 7 .2 8 .8 9 .6 11.8 12.0 9 .0 10.0 9 .5 11.6 1 .6 676.1 693 .2 733.3 743.8 7 6 3 .4 777.3 7 9 9 .0 8.8 8 .4 8 .6 9 .1 8 .6 8 .0 9 .1 9 .6 1 0 .4 12.4 12.7 10.4 11.5 11.7 1 3.9 1 6.3 9.1 8.7 8 .9 9 .4 9 .0 8 .4 9 .4 9 .9 10.7 12.5 12.8 10.8 11.9 12.1 13.7 14.7 13.1 1-86 8 .0 7.6 7 .7 8 .1 7 .6 7 .0 8 .1 8 .6 9 .9 9 .9 7 .8 8 .2 7 .6 7 .4 6 .3 1.7 - 8 .5 2-86 8.2 7.8 7 .9 8 .3 7 .9 7 .3 8 .4 8 .9 10.1 10.1 8 .3 8 .6 < < ■ > • 00 * • 00 8 2 9 .7 3-85 4-85 7 .6 4 .9 1 .0 11.6 3-81 4—81 1-82 2-82 3-82 4-82 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-66 1-83 8 5 5 .6 8 3 6 .7 8 6 0 .0 __________________________________________________________________ IN IT IA L QUARTER_______________________________________________________________ COMPOUNDED ANNUAL RATES OF CHANGE 3-81 4-81 B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAL QUARTER 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 6 3 5 .9 3 .7 6 3 4 .6 1-82 1.4 - 0 .8 2-82 -0 .1 - 1 .9 -3 .1 3-82 2 .0 1.4 2 .5 4-82 3 .8 3.8 5 .4 9 .9 11.4 1-83 2 .0 1.7 2 .3 4 .2 2.1 - 6 .4 2-83 1.9 1 .6 2 .0 3 .4 1.7 - 2 .8 6 2 9 .7 6 4 2 .5 8 .4 660.1 649.2 6 5 0 .9 1.1 3-83 1.8 1.6 2 .0 3 .0 1.7 - 1 .3 1 .4 1.7 4-83 0 .8 0.5 0 .7 1.3 0 .0 - 2 .7 - 1 .4 - 2 .7 - 6 .8 6 5 3 .6 1-84 1.3 1.0 1.2 1.8 0 .8 - 1 .2 0 .2 -0 .1 - 1 .0 5.1 6 4 2 .2 6 5 0 .2 2-84 2 .7 2*6 3 .0 3 .8 3 .1 1.8 3 .6 4 .2 5 .0 11.5 18.4 3-64 2 .6 2.5 2 .9 3 .5 3 .0 1 .8 3 .2 3 .7 4 .2 8.1 9 .7 1 .7 4-64 2 .9 2.8 3 .2 3 .8 3 .3 2 .4 3 .7 4 .1 4 .6 7 .7 8.6 4 .0 6 .3 3 .4 4 .2 2 .2 678 .2 6 8 1 .0 6 9 1 .5 1-85 2 .8 2« 8 3 .1 3 .7 3 .2 2 .3 3 .5 3 .8 4 .2 6*6 6 .9 2-85 3 .2 3.1 3 .4 4 .0 3 .6 2 .9 3 .9 4 .3 4 .7 6 .7 7.1 4 .4 5 .4 4 .9 7 .7 3-85 3 .8 3.8 4 .2 4 .7 4 .4 3 .8 4 .9 5.3 5.8 7 .7 8 .2 6. 3 7 .5 7 .8 10.6 13.9 5 .1 4 .8 4 .3 5 .4 8 .0 8.5 6 .9 8 .0 8 .4 10.5 11.9 6 95.3 7 0 8 .3 7 31 .8 10.0 7 4 9 .4 4-85 4 .2 4.2 4 .5 5 .8 6.3 1-86 3 .2 3.1 3 .4 3 .8 3 .5 2 .9 3.8 4 .0 4 .2 5 .6 5 .6 3 .9 4 .3 3 .9 4 .3 3 .2 2-86 3 .5 3.5 3 .8 4 .2 3 .9 3 .4 4 .2 4 .5 4 .7 6 .0 6 .1 4 .6 5 .1 4 .8 5 .4 4 .8 1 .9 - 1 .9 9 .8 3-81 4-81 1-82 2-82 3-82 4 -82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 - 1 .8 -12.3 725.2 7 4 2 .4 _____________________________________________________________ INITIAL QUARTER__________________________________________________________ P R E P A R E D B Y F E D E R A L R ESERVE BANK OF ST. L OUIS A U G U S T 19, 1986 17 DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS, COMPOUNDED ANNUAL RATES Of CHANGE TERMINAL B IL L IO N S OF DOLLARS IN IT IA L QUARTER 3-81 4-81 1-82 2-82 3-82 4-82 1-83 4-ei 4 .7 1-62 4 .2 3 .7 2-62 5 .0 5.1 6 .4 3-62 5 .4 5.6 6 .6 6 .7 4-62 5 .7 6 .0 6 .8 6 .9 7 .1 1-63 5 .6 5.8 6 .3 6 .2 6 .0 4 .8 6 .9 6 .8 8 .7 2-83 3-83 4-83 1-84 2-84 3-84 4-84 3-85 4-85 1-86 2 ,2 0 7 .2 2 ,2 4 1 .8 2 ,2 7 8 .6 2 ,3 1 8 .1 2 ,3 4 5 .7 2-63 6 .0 6.3 6 .8 3-83 6 .3 6.5 7 .0 7 .1 7 .2 7 .3 8.5 8 .2 4-63 7 .2 7.5 8 .1 8 .3 8 .7 9 .1 10.5 11.4 14.6 1-64 7 .9 8.2 8 .8 9 .1 9 .6 10.0 11.4 12.3 14.4 14.1 2 ,3 9 5 .4 2 ,4 4 3 .2 2 ,5 2 7 .9 2-64 7 .6 7 .9 8 .4 8 .6 8 .9 9 .2 10.1 10.5 11.2 9 .6 5.2 7 .6 7 .9 8 .3 8 .5 8 .7 9 .0 9 .7 9 .8 10.3 8 .8 6 .3 7 .4 4-84 7 .4 7 .7 CD • o 2 ,6 1 2 .7 3-64 8 .2 8 .4 8.5 9 .0 9 .1 9 .3 8 .0 6 .0 6 .4 5 .4 8 .0 8 .4 8 .3 8 .3 7 .1 5.5 5 .5 4 .6 3 .8 7 .4 7 .7 7 .8 7 .9 2 ,6 4 6 .3 2 ,6 9 3 .6 2 ,7 2 9 .6 2 ,7 5 5 .4 2-85 7 .6 7.8 8 .1 0» • 7 .2 2-85 2 ,1 8 7 .0 6 .9 1-85 1-85 8 .4 8 .5 8 .9 8 .9 9 .0 8 .1 7 .0 7 .4 7 .4 8 .4 là .2 3-65 7 .0 7 .1 7 .4 7 .5 7 .5 7 .6 7.8 7 .7 7 .7 6 .7 5 .5 5 .6 5 .1 5 .0 5 .6 4-85 7 .0 7.1 7 .4 7 .4 7 .5 7 .5 7 .8 7 .7 7 .6 6 .8 5 .8 5 .9 5 .6 5 .6 6 .2 2.8 7 .3 2 ,8 4 2 .3 - 1 .4 2 ,8 3 2 .0 2,68¿*2 1-66 7 .0 7.2 7 .4 7 .5 7 .5 7 .5 t.Ô t.t 7 .6 6 .9 6 .0 6 .1 5 .9 6 .0 6 .5 4 .4 7 .4 7 .5 2-66 7 .0 7 .1 7 .3 7 .4 7 .4 7 .5 7 .7 7 .6 7 .5 6 .8 6 .0 6 .1 6 .0 6 .1 6 .5 4 .4 7 .1 7 .0 6 .5 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-65 3-85 4-85 1-86 2 ,9 3 5 .1 2 ,9 8 1 .Y IN IT IA L QUARTER ____________________________________________________________ P I ?PQ$APt»E PERSONAL INQOME IN 198? P O II ARS__________________________________________________________ COMPOUNDED ANNUAL RATES OF CHANGE _______________________________________________________________________________________________________________________________________________________________ B IL L IO N S OF TERMINAL IN IT IA L QUARTER DOLLARS QUARTER____________________________________________________________________________________________________ _________________________________________________ ANNMAV R ¿ I E $ 1-86 1-84 2-84 3-84 4-84 1-85 2-85 3-65 4-85 1-83 2-83 3-83 4-83 3-81 4-81 1-82 2-82 3-82 4-82 4-61 -1 .6 2 ,2 5 3 .7 2 ,2 4 5 .7 - 1 .4 1-62 -1 .5 2-62 -0.1 0 .6 2 .7 3-82 0 .0 0 .6 1 .6 0 .4 4-82 0 .5 1.0 1.8 1 .3 2 .3 1-63 0 .7 1.2 1 .9 1»6 2 .2 2 .2 2 ,2 6 0 .9 2 ,2 6 3 .4 2 ,2 7 6 .1 2 ,2 8 8 .4 2-63 1.2 1.7 2 .3 2 .2 2.8 3 .1 4 .0 3-63 1 .6 2 .1 2 .6 2 .6 3 .2 3 .5 4 .1 4-83 2 .5 3 .0 3 .7 3 .8 1-84 3 .2 3 .7 4 .4 2-64 3.1 3 .6 4 .1 3 .6 4 .1 4 .2 3-64 3 .1 2 ,3 1 1 .1 2 ,3 3 5 .4 4 .3 2 ,3 9 2 .7 6.1 7 .2 10.2 6.0 6 .9 7 .9 9 .8 9 .4 5.3 6 .0 6 .5 7.2 5 .7 2 .2 5.1 5 .6 5.9 6 .3 5 .0 2 .9 4 .5 5.1 4 .6 5 .3 4 .3 4 .9 4 .7 2 ,4 4 6 .9 2 ,4 6 0 .3 3 .6 2 ,4 8 1 .9 2 ,4 9 3 .1 4-64 3 .0 3 .4 3 .9 4 .0 4 .4 4 .7 5 .0 5.2 5 .4 4 .2 2 .5 2 .7 1-65 2 .8 3.2 3 .6 3 .7 4 .0 4 .2 4 .4 4 .5 4 .5 3 .4 2 .0 1 .9 1 .1 0 .4 2-65 3 .2 3 .6 4 .0 4 .1 4 .4 4 .7 4 .9 5.1 5 .2 4 .4 3 .4 3 .7 3 .7 4 .7 9 .1 3-65 2 .8 3.1 3 .4 3 .5 3 .7 3.8 4 .0 4 .0 4 .0 3.1 2.1 2 .1 1 .7 1.7 2 .3 -4 .0 4-65 2 .8 3 .0 3 .3 3 .4 3 .6 3 .7 3.9 3.9 3 .8 3 .0 2 .2 2 .2 1 .9 1.9 2 .4 - 0 .8 2 .6 1-86 3 .0 3.2 3 .5 3 .6 3 .8 3 .9 4 .1 4 .1 4 .1 3 .4 2 .7 2 .8 2 .6 * .4 1.6 4 .* 6 .5 7 .4 1-66 2-86 3 .2 3-81 3 .5 jt- n 1 .8 2 ,4 9 5 .7 2 ,5 5 0 .8 2 ,5 2 4 .7 2 ,5 4 0 .7 3 .8 3 .8 4 .1 4 .2 4 .3 4 .4 4 .4 3.8 3 .2 3 .3 3 .3 3 .6 4 .2 3 .0 5 .5 6 .9 M 2 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-64 2-84 3-84 4-84 1-65 2-65 3-85 4-85 2 ,5 8 1 .2 2 ,6 2 7 .4 I N IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LO UIS ÀüèUST 1*, 14è4-------------------------- 18 C O R P O R A T E PROFITS AFTER TAXE S » COMPOUNDED -ANNUAL RATES OF CHANGE TERMINAL QUARTER 3-81 4-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 -9 .1 4-83 -4 4 .6 -6 6 .2 2—82 -3 2 .9 - 4 2 .4 -1 .8 3-82 -2 5 .7 -3 0 .5 - 0 .4 4-82 -22.9 -2 6 .0 - 3 .9 3-84 2-84 4-84 1-85 2-85 3-85 4-85 1-86 107.5 1-83 -16 .3 -1 7 .7 1 0 ?.Ö 107.3 1 .1 104. 3 -5 .0 -1 0 .7 2 .9 4 .5 6 .2 2 6 .4 2-83 -7 .2 -6 .9 14.0 18.3 24.7 47.3 71.7 3-83 -1 .2 0.0 19.8 24 .7 3 1 .4 49.5 62.5 53.9 4-83 -0 .3 0.8 17.9 21.6 26.1 37 .5 4 1 .4 28.3 7 .0 1 Í3 .3 126.6 141.0 143.4 1-84 0 .6 1.7 16.7 19.6 23.0 31.2 3 2 .4 21 .4 7.8 8.6 2-84 0.1 1.1 14.2 16.3 18.7 2 4 .4 24.1 14.4 3 .6 2.0 5 .8 - 3 .7 -2 .0 1-84 141.0 1-82 3-84 B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER -1 .4 9 .8 11.2 12.5 16.3 14.7 146.4 -4.3 144.8 -7 .0 -14.0 -2 2 .6 Ì3 Ì.8 134.1 4-84 -2 .3 - 1 .7 8 .4 9 .5 10.4 13.4 11.6 3 .9 - 3 .9 -6 .5 -11.0 -14.2 1-85 -3 .8 -3 .4 5 .4 6 .1 6 .6 8.8 6 .7 -0 .3 -7 .2 -9 .8 -13.9 -16.9 -13 .9 -22 .1 - 4 .9 6 .2 8 .1 6 .2 0 .0 - 5 .9 -7 .9 -10.9 -12.5 -8 .8 -1 0 .7 126.0 126.7 2 .2 2-85 - 3 .4 - 3 .0 5 .2 5.8 3-85 -2 .0 -1 .5 6 .4 7 .0 7 .5 9 .4 7.8 2 .4 - 2 .7 -4 .0 —6 .0 —6 .3 -1 .8 - 0 .7 12 .1 2 2 .9 4-85 -0 .8 - 0 .3 7 .2 7 .9 8 .4 10.2 8.8 3 .9 - 0 .5 -1 .4 -2.8 -2 .5 2 .1 4 .0 14.4 21.1 1-86 -1.5 - 1 .0 5 .9 6 .4 6 .8 8 .3 6 .9 2 .4 -1 .7 - 2 .6 - 3 .9 -3 .8 - 0 .3 0 .7 t.3 9.Ô 2-86 -0 .5 0.0 6 .6 7 .1 7 .5 9 .0 7 .7 3 .6 - 0 .1 -0 .7 -1 .7 -1 .4 2 .1 3 .3 9 .3 ll.l t.* ¿.0 if.6 3-81 4-81 1-82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 133.4 139.4 19.2 ¿ .7 - I t . 5 1 Ì5 .2 140*8 IN IT IA L QUARTER * NATIONAL INCOME B A S IS PREPARED BY FEDERAL RESERV E BANK OF S T . LO U IS AÜèÜST H , l« i¿ HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The revised estimates for the series in the regular quarterly presentation of NIPA tables for the years 1983 and 1984 and for 1984:11 - 1985:111, will be published in the December 1985 Survey of Current Business. Revised estimates for all NIPA series for 1929-82 and for 1982-84 will be available in the spring (1986) in separate volumes. These data are currently available on tape and hard-copy printout. For further information and prices, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. 19 IN VEN TOR IES COMPARED WITH MONTHLY S A L E S * MANUFACTURING AND TRADE 1 . 6 8 6 8 6 4 6 4 6 0 6 0 5 6 5 6 5 2 5 2 4 8 4 8 4 4 4 4 4 0 4 0 3 6 3 6 3 2 3 2 2 8 2 8 2 4 2 4 1 9 7 2 1 9 7 3 1 9 7 4 1 9 7 5 1 9 7 6 1 9 7 7 1 9 7 8 1 9 7 9 1 9 8 0 « R A T I O S BASED ON SEASONALLY ADJUSTED DATA. SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS. 1 9 8 1 1 9 8 2 1 9 8 3 1 9 8 4 1 9 8 5 1 9 8 6 SOURCE: U. S.DEPARTMENT OF COMMERCE L ATEST DATA P LOTTED: JUNE PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 20
@FedFRASER