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N a t i o n a l E c o n o m i c

T r e

N o v e m b e r 1986

O c t o b e r

1 9 8 6

m a r k e d

the 47th m o n t h

dissatisfied w i t h t he c o u r s e

it i s u s e f u l t o p l a c e it i n p e r s p e c t i v e a n d
b eginning
T h e
G N P
T h e

early

u n e m p l o y m e n t

T h e

table s u m m a r i z e s

the e c o n o m i c

rate a n d payroll e m p l o y m e n t

o f real o u t p u t

b e c a u s e o f slower g r o w t h

trast to that e x p a n s i o n ,

s h o w

1984.

T o

m a n y

observers are

assess the e c o n o m y ’ performance,
s

the previous

period of long

T h e

over

G N P

these

t w o

periods

e c o n o m i c

of e c o n o m i c

d e f l a t o r is a b r o a d m e a s u r e

indicate t h e status o f th e l a b o r m a r k e t s ,

gai n s e q u a l to a b o u t

expansion

expansion.

Real

o f price perfor m a n c e .

while the A a a

b y

a

8 0

p e r c e n t o f t h o s e in the

E m p l o y m e n t

b o n d

rate reflects

1970s.

Price performance,

in the labor force, the u n e m p l o y m e n t

the corporate

slight s l o w i n g

A a a

b o n d

m a d e

rate h a s d e c l i n e d

in the

in e m p l o y m e n t

1 9 80s

rate h a s d r o p p e d

in this e x p a n s i o n

in r e d u c i n g

g r o w t h

a n d

a

h o w e v e r ,

i n c r e a s e s h a v e b e e n o n l y slightly less t h a n in t he 1 9 7 0 s ,
b y

a greater a m o u n t .

rat e s t a n d s a p e r c e n t a g e p o i n t h i g h e r c u r r e n t l y t h a n at this s t a g e in t h e

Considerable progress has b e e n

a c c o m p a n i e d

p e r f o r m a n c e

of output.

substantially better in t h e c u r r e n t e x p a n s i o n .

gains, the u n e m p l o y m e n t

level.

the recent record wit h

of

conditions.

m e a s u r e s

has b e e n

c o m p a r e

m a n u f a c t u r i n g production are m e a s u r e s

m a r k e t

Despite the e x p a n s i o n ’ longevity,
s

especially since the m i d d l e

1975.

a c c o m p a n y i n g
a n d

credit

a n d

in

of the current expansion.

of the e c o n o m y ,

inflation a n d

greater—

but

not

a n d

is 2 0

basis points b e l o w

interest rates.

substantial—

Despite these

1 9 70s expansion.

S u c h

slowing

In c o n ­
its 1 9 7 8

progress has b e e n
in o u t p u t

growth.

Measures of Economic Performance
1980s

expansion

1970s

Percent
c hange

Real

G N P

Percent
IV/1982

3,687.3

3,159.3

129.4

100.1

13.0

dollars)

ID/ 1 9 8 6

29.3

(1982

Manufacturing

expansion

100.3

88.7

14.9

88.2

76.8

13.1

115.0

101.7

28.9

74.4

57.7

16 . 7 %

c h a n g e

2 0 . 4 %

IY/1978

1/1975

3,181.6

2,642.7

110.7

81.9

production

( 1 9 7 7 = 1 0 0 )

35.2

Payroll e m p l o y m e n t
(millions o f persons)
G N P

deflator ( 1 9 8 2 =

U n e m p l o y m e n t
Corporate

A a a

100)

rate

—

6 . 9 %

1 0 . 6 %

—

5 . 9 %

8 . 3 %

b o n d

—

8.83

11.88

—

9.03

8.71

rate

v ie w s



—

t

h

e

F E D E R A L
R E S E R V E
R A N K of
ST. I / H T S

e x p r e s s e d d o n o t n e c e s s a r ily r e f le c t o f f ic ia l p o s itio n s o f t h e F e d e r a l R e s e r v e s y s t e m .

Keith

M .

Carlson

__________ T B T â L

U

f l U

i M

H n O f f lE M Ig

.

C O fW K W E » A W W L RATES OF C lttN K

TERNI MAL
IN IT IA L WMTN
THOUSANDS
MttttlH_________________________________________________________________________________________________________________ ________________________________________ OF PERSONS
€5 9-85 10—
85 i 1—
85 7-65 8—
85 12-85
1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86
3-85 4-85 5-85 6—
*-85

-0 .9

106*872
106*939

5-85

-0.1

0 .8

6-85

-1.3

- 1 .5

-3 .7

T-85

-0 .2

0 .0

- 0 .4

3 .1

8-85

0*6

1 .0

1 .0

3 .5

3 .9

9-85

1.1

1.5

1.6

3.5

3 .7

3*5

10-85

1*4

1 .8

2 .0

3 .4

3 .6

3.4

3 .3

2 .9

2 .5

11-85

1.4

106*601

1 .8

1 .9

3.1

3.1

lO J tZ lt )

107**1#
Id ? * IT 3
107*964

1*8

104 * 206

12-85

1.6

1*9

2 .0

3 .0

3 .0

2. •

2 .6

2 .2

2 .7

1-86

2.3

2 .6

2.8

3 .8

3 .9

4 .0

4.1

4 .3

5 .6

8*6

2-86

1*6

1 .9

2 .0

2 .8

2 .1

2 .5

2.3

2.1

2 .2

2 .0

-4*3

3-86

1.7

2 .0

2.1

2 .7

2 .1

2 .5

2.4

2 .2

2 .3

2 .2

- 0 .9

2 .5

%-86

1.7

1 .9

2 .0

2 .6

2 .5

2 .4

2 .2

2 .0

2.1

1 .9

-8 .2

1 .8

1.2

1*7

1 .9

2 .0

2 .6

2 .5

2.4

2 .2

2.1

2.1

2 .0

0 .4

2 .0

1.8

5-86

108*955
108*561
I Ô8*7êé
IW * I7 T '
2 .4

109*110
109*673

6-86

2*0

2 .2

2.4

2 .9

2 .9

2 .8

2 .7

2 .6

2 .7

2 .7

1 .6

3.1

3.3

4*4

6 .4

7-86

2.0

2 .2

2 .4

2 .8

2 .8

2 .7

2 .6

2 .6

2.ir

2 .7

1 .7

2 .9

3.0

3 .7

4.3

8-86

2.1

2 .3

2.4

2 .9

2 .8

2 .1

2.7

2 .6

2 .7

2 .7

1*9

3 .0

3 .0

3 .5

3 .9

109 *séz
liö * l* 5

¿ .7

3 .8
— .8
¿

109*891

9-86

1.8

2*0

2.1

2.5

2.4

2 .3

2.2

2.1

2 .1

2.1

1.3

2.1

2 .0

2 .2

2 .2

0. 8

0 .0

10-86

1.9

2*1

2 .2

2.5

2 .5

2*4

2.3

2 .3

2 .3

2 .3

1 .6

2 .3

2.3

2 .5

2.5

1.6

l . 'S

6.5

3 .9

3-85

4-85

5-65

6-85

7-85

8—
85

9-85 10-85 11-85 lL - « 5

1-86

2-86

3-86

4-86

5-86

6-86

7-86

8-86

9-86

110*240

_____________________________________________________________________________I K IT IA L MONTH
♦SEE FOOTNOTE BOTTOM OF CHAAT OPPOSITE PA tE
PREPARED BY FÉDÉRAL ASSERVE BAUK OF ST* LOOTS
NOVENBCIt T» i m
___________P tY lO L L EMPLOYMENT_________
COMPOUNDED AMHOAL RATES OF CHAMCE
TEKNINAL
IN IT IA L MONTH
TWOUSANOS
HQWIH___________________________________________________________________________________________________________________________________________________________OF PERSONS
1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86
3-85 4-85
5-85 6-85
7-85 8-85
9-85 10-85 11-85 12-85
"

4-85

2 .9

5-85

2 .9

2 .9

6-85

2.4

2.1

1.3

7-85

2.5

2 .4

2.1

8-85

2 .5

2 .4

2 .3

2 .8

2 .7

9-85

2.6

2 .5

2.5

2 .8

2 .8

3 .0

10-85

2.8

2 .7

2 .7

3.1

3.1

3.3

11-85

2.8

2 .8

2 .7

3 .0

3.1

3 .2

3 .3

2 .9

12-85

2.8

2 .8

2 .8

3 .0

3.1

3 .2

3 .2

3 .0

3*0

3-4

3 .5

3 .6

3 .6

3 .9

L-86

3.0

97*338

3 .0

3 .0

9T*4À2
97*672

2 .9

3 .3

97 * B9 o
W * I2 S
#§,428

3 .7

9ft*666
98*910
$9*296

4*8

2-86

2.9

2 .9

i. 9

3.1

3.1

3 .2

3 .2

3.1

3*1

3 .2

1*6

3-86

2.7

2 .7

2 .7

2 .8

2 .8

2 .8

2 .8

2 .6

2 .5

2 .3

1*1

0 .7

"54*429
■

2.8

2 .8

2 .7

2 .9

2 .9

2 .9

2 .8

2.7

2 .7

2 .0

2 .2

2.7

2 .7

2.7

2 .8

2 .8

2 .8

2 .7

2 .6

2*6

2*5

1*9

2*0

2 .6

1 .6

6-86

2.4

2 .4

2 .4

2 .5

2 .4

2 .4

2 .3

2 .2

2*1

1*9

1*3

1 .3

1*5

•*4

7-86

¿ .5

2 .*

M

2 .3

2 .2

2*1

t .6

1 .6

1 .9

i.%

i. 1

"1 *2 "

8-86

2.5

2 .4

2 .4

2 .5

2 .5

2 .4

2 .4

2 .3

2 .2

2*1

1*7

1 .7

1 .9

1 .5

1*5

~ 2 *f

2 .*

9-86

2.4

2 .4

2 .4

2 .5

2 .4

2 .4

2 .4

2 .2

2 .2

2*1

1*7

1*8

1 .9

1 .6

1*6

2 .4

2.1

2 .0

10-86

2.5

2 .7

2 .6

2 .8

*#♦#!§

3*7

5-86

# # *m

"

4-86

2 .9

________________ i n « -

2 .5

4 ~ 8 ?

"97*15*

* .'*

2 .5

S r* ?

2 .5

2 .5

2.5

f- ft ?

2 .5

T - »

2 .4

2 .3

I IM

?

2*2

2*0

l i r t t ____ l - » 6

2 .9

2 -« 6

2 .2

3 -8 6

W *7 *i

1 .9

4 -8 6

99*843

-*•9

2*0

V -» »

6 -» 6

ioo*ki)S>

7 - 8 6

~ 1 *0 *2 «

8 -8 6

iò O *U è >
3*i

to ò * ?U ^

» -» 6

____________________________________________________________________________________ U U i a L - B H Ö _________________ _____________________________________________________

t-

PRELIMIMARY_____________________________________________ ________________________________________________________________________________________________




PREPARED BY FEP6RAL R E 1ERYE BANK OF ST* LO UIS
N O V E N K I 7« i m

2

EMPLOYMENT
R A T I O SCALE
MI L L I O N S OF PERSONS

R A T I O SCALE
MI L L I O N S OF PERSONS

SEASONALLY ADJUSTED

SOURCEt U.S.DEPARTMENT OF LABOR
BEGINNING JANUARY 1986. TOTAL EMPLOYMENT DATA INCORPORATE NEtf PROCEDURES FOR ESTIMATING
MEASURES OF IMMIGRATION AND EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT 0.3%.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATEO.
LATEST DATA PLOTTEDt OCTOBER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

UNEMPLOYMENT RATE
SEASON ALLY ADJUSTED

PERCENT




PERCENT
2.0

11.0

10.0

9.0

8.0

7 .0

6.0

5.0

1978

1979

1980

1981

1982

1983

1984

1985

1986

SOURCEt U.S. DEPARTMENT OF LABOR
PERCENT OF CIVILIAN LABOR FORCE
LATEST DATA PLOTTEDt OCTOBER
PREPARED BY FEDERAL RESERVE BANK OF S T .

3

L O U IS

4. 0

CONSUMER PR IC E INDEX FOR ALL URBAN CONSUMERS, SEASONALLY AOJVSTEO
COMPOUNOED ANNUAL RATES OF CHANGE
TERMINAL
MONTH

1467» 1 T
0Ó

IN IT IA L MONTH
3 -8 5

4 -8 5

5 -8 5

6 -8 5

7 -8 5

8 -8 5

9 -6 5

1 0 -8 5

1 1 -8 5

1 2 -8 5

1 -8 6

3-86

2 -8 6

4 -8 6

6-86

5 -8 6

1-86

é-84

9 -8 6 ”

3W 73

4.2

321.0

3*4

2 .7

6— 85

-J7T

2.8

17(5”

7 -8 5

3 .0

2.6

2.6

2 .3

8 -8 5

3 .0

2.6

2*6

2 .4

2.6

321*8
3 2 2 .4
37X^1

9 -8 5

2.8

2.6

2 .5

2 .4

2 .4

2 .3

1 0 -8 5

3 . 1

2 .9

2 .9

2 .9

3 .1

3 .4

4 .5

1 1 -8 5

3 .5

3 .4

3 .6

3 .7

4 .1

4 .5

5 .7

1 2 -8 5

3 .7

3 .6

3 .7

3 .8

4 .1

4 .5

5 .Ì "

1- b ò

3 .7

3 .6

3 .8

3 .9

4 .1

4 .4

5 .0

5 .1

4 .3

2-86

2 .9

2.8

2 .8

2 .8

2 .8

2 .9

3 .0

2.6

1 .2

32 J . 7
3 2 4 .9
3 2 6 .7

6 .9

3 2 7 .9

4 .5

3 -8 6

2.2

2.0

2.0

1 .9

1.8

1 .7

1.6

- 0 . 4

L

.8

1.6

1 .5

1 .3

1 .2

l . l

0 .9

-

5 -8 6

1.8

1.6

1.6

1 .4

1 .3

1.2

1.1

- 0 . 4

6-86

2.1

1 .9

1 .9

1.8

1 .7

1.6

1.6

1 .2

0 .4

-

7 -8 6

2.0

1.8

1.8

1 .7

1 . 6-

1 .5

1 .4

1.1

0 .4

-

8-86

2.0

1.8

1.8

1 .7

1 .7

1. 6

1 .5

1. 2

9 -8 6

2 .1

2.0

1 .9

1 .9

1.8

1. 8

1 .7

1 .5

10-86

2.1

2.0

1 .9

1 .9

1. 8

1.8

1 .7

8 -8 5

7 -1 5

_

•

- 0 . 4

4 -8 6

5 * 9 5 .. fc-05

3 2 9 .0

4 .1

6

3 2 T .T
3 2 6 .3

1 0 -8 5

- 4 . 8

- 5 . 0

- 2 . 3

- 4 . 3

-4 . 1

- 1 . 4

-2 . 7

-

2 .1

0.2

- l . l

-

0 .2

-

-

0.6

0 .1

-0 . 4

1 .0

0 .6

0 .1

0.8

1.8

2 .9

3 .1

2.2

3 .2

4 .1

1.0

2. - £ S _

- 1 . 9

0 .7

0 .3

1 .0

1. 8

2 .7

2 .8

2.1

2 .7

3 .0

2-8 6

3— 86

4 -8 6

5 -8 6

6-86

7 -8 6

1.0

1 1 -8 5

L2 _ -8 5 _

" ^ 2 5 .4

- 3 . 3

1- S 6

2.2

0.2

1 .5

3 .9

5 .7

0. 1

1 .2

2 .7

3 .0

0 .4

0 .3

0 .8

0 .6

1 .4

2.6

2 .7

1 .3

-

3 2 6 .0
3 2 7 .5
3 2 7 .4

2.2

3 2 8 .2
3 2 4 .3
3 2 9 .8

1 .8

8-86

9 -8 6

IN IT IA L MONTH

PREPAREO

PRODUCER

M I C E

IN D E X .

F IM IS tfffi

M O D S

-

SEASONALLY

BY

NOVEMBER

25*

FEOERAL

RESERVE

BANK

OF

S T .

LO U IS

1986

ADJUS1ED*

COftPOUNCED ANNUAL RATES OF CHANGE
IN IT IA L

TER M IN A L

1947 » 100

MONTH

MONTH
3 -3 5

4 -8 5

5 -8 5

6— «5

7 -8 5

8— *5

9 -8 5

1 0 -0 5 1 1 -8 5 12—85

1 -8 6

2—04

3 -8 6

4 -8 4

5—86

6 -8 4

7 -8 4

8 -8 6

* -# 4

¿93.5

4 -8 5

6 .3

5 -8 5

4*6

2 .9

6 -8 5

2.2

0.2

7 -8 5

2 .4

8 -8 5

1. 2

-

0.1

- 1 . 4

9 -8 5

-

¿*4.2
2 9 3 .4

-2 .4

l.l

0.2

2 .9

0 .1

-1 .1

-0 .4

-3 .6

-2 .4

-2 .4

-5 .0

-6 .4

2 9 4 .3
2 9 3 .4

~291.l
~794T4

1 0 -8 5

1 .4

0.6

0.2

o .a

0 .1

2 .1

1 1 .2

1 1 -8 5

2 .3

1 .7

1 .5

2 .3

2 .2

4 .2

9 .8

8 .5

1 2 -8 5

2 .9

2 .5

2 .4

3 .2

3 .3

5 .1

9 .2

8 .2

296. 4
" " 2 9 r .3

8 .8

1-86

1 .7

1 .5

1 .2

2 .2

4 .5

2 .3

2-86

—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 -8 6

-1 .2

-1 .9

-2 .3

-2 .3

-> .9

—2 .8

-2 .>

-4 .7

- 1 .8 - 1 2 . 5 - 1 4 . 4 - 1 0 . 9

2 8 8 .5

4-86

-1 .6

-2 .2

- ¿ . 7

-¿ .7

-3 .3

-3 .3

-2 .8

-5 .0

-7 .4

-8 .5

-4 .1

5 -8 6

-

1. 6

- 1 . 9

- 1 . 9

-2 .4

-2 .2

- 1 . 7

-3 .4

-5 .3

-7 .7

-7 .5

-3 .8

0 .0

6 .5

6-86

-0 .9

- 1 . 7

—1 .4

-2 .0

-1.9

-1.4

-

2. *

—4 . 4

—4 . 3

—5 .8

—2 .6

0 .4

3 .V

-3.3

1.0

1.2

7 -8 6

-

8-86

-0 .9

9 -8 6

-

10-86

0.6

1 .2

-

- 1 . 4

1 .0

-0 .8

-1 0 .9 -1 1 .7

¿ s é .s

1 .3

-

2.0

-

2.0

->.4

- 2 . 3

- i . é

- 3 . 2

-4 .6

- 6 . 2

—5 . *

-

1.6

-

1 .6

- i . %

-

1.

«

- i . a

- 2 . 5

- 3 . 7

- S Æ "

-4.5 - ¿ . 1

-

1.2

-1.5

- 1 . 3

- 0 . 9

- 1 . 9

-2.9

- 4 . 0

- 3 . 4

-

1.2

0.6

1 .9

0.8

0 .7

4 .3

T.7

- 0 . 9

-

0. #

- l.l

- 0 . 9

-0 .5

-1 .4

-2 .2

- 3 .2

- 2 .6

- 0 .5

1 .1

¿Vi

1.5” 1.6

4.2

4.5

4.2

5 -8 5

6—
85

7-85

8-85

9-85 10-85 U - 8 5

12-95

1-84

2 -0 4

3 -8 4

4-86

0-86

9-84

-

.4

1.0
.

—0

4 -8 5

7

-1 . 3

I N I T I A L
FOUR

.0

214.3

- I

-0 .4

FOR

¿91

-1 .7

3 -8 5

♦DATA

2 9 6 .1

-8 .5

M ONTHS




A60

R E V IS E S

TO

R EFLEC T

-Ï.2
- Ô

.2

0 .4

- ¿ . 5

-

6 .1

1.3 ^3.4“-1.2

5-86

6 -8 4

287*3

280.2

3VT

7 -8 4

2 8 9 .3

T W .3

HO NTH

LATE REPORTING

r* £ P A * tP

©V

f J P « A L - « * * * E

NOVEMBER 14* 1586

4

OAJ*

O f

S T . LOUIS




RATI O SCALE

1967- 100

PRICES
SEASONALLY ADJUSTED

R A T I O SC A LE

1967- 100

CONSUMER PRICE INOEX BEGINNING JANUARY 197« 18 FOR ALL URBAN CONSUMERS (C P l- U ).
CPI-U DATA BEGINNING 1983 INCORPORATE A RENTAL EQUIVALENCE MEASURE FOR HOMEOWNERSHIP C08T8.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER 1008 INDICATED.
LATEST DATA PLOTTEDt OCTOBER
PREPARED BY FEDERAL RESERVE 8ANK OF ST. LOUIS

R T scale
A IO
1967-100

PRODUCER PRICES
SEASONALLY ADJUSTED

ratio scale
1967-100

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INOICATED.
LATEST DATA PLOTTEDt OCTOBER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

PRODUCER PM C E IND EX, F I HI SHED CONSUMER FOODS - SEASONALLY A PJU 3TEP»
COMPOUNDED ANNUAL RATES OF CHANCE
1967 * 100

IN IT IA L MONTH

TERMINAL
MDNTM
3-05

4-85

5-85

6-85

7-85

8-85

1-86

9-85 10-85 11-85 12-85

2-86

3-06

4-06

5-06

6-06

7-06

0-06

9-06
270.0

4-85

—
6.8

5-85

-8.1

- 9 .3

6-85

- 5 .7

- 5 .2

- 0 .9
11.8

260.6
260.4

7-85

- 1 .6

0.1

5 .2

8-85

-3 .0

- 2 .0

0 .6

1.3

9-85

-4.4

-3 .9

- 2 .4

-2 .9

10-85

- 1 .0

0 .0

2 .0

2 .7

270.9
269.0

-6 .1

266.4

- 9 .6 -1 1 .0
- 0 .1

4.1

2 1 .7

270.0

275.7

11-85

0 .7

1.8

3.8

4 .6

3.1

7.2

17.6

13.6

12-85

2 .0

3 .2

5.1

6.1

5 .0

8 .6

16.0

13.3

1-86

1.1

2 .0

3.5

4 .2

3 .0

5.3

9 .9

6 .2

— .7
6

¿>4.9

3.5

- 0 .6

-4 .9 -12 .7 -1 6 .3

270.3

3.3

- 0 .1

- 3 .3

-6 .1

276.5

13.0
2 .7

2-86

-0 .8

- 0 .2

0.6

1.1

- 0 .4

1.0

3-86

- 0 .6

0 .0

0 .9

1.1

— . 1
0

1.1

4-86

-0.4

0.1

1.0

1.2

0.1

1.2

3 .0

0 .2

- 2 .3

- 5 .7

- 5 .4

1.8

1.0

1.7

2.8

4 .7

2 .5

0 .7

- 1 .6

- 0 .2

6 .7

9 .2

17.2

l.i

2.4

4.1

r .r

0 .6

- 1 .4

— .3
0

4 .8

"3 :# '

0 .0

- 0 .4

- 6 .6

270.Y

1.8

271.1
274.7

5—
86

0 .7

1.3

2 .3

2 .6

6—
86

0 .6

1 .2

2.1

2 .3

7-86

2.1

2 .7

3.6

3 .9

3 .3

4.4

6.1

4 .5

3 .4

2.1

3 .7

0 .7

10.5

13.6

11.9

25.0

8-86

2.9

3 .5

4.4

4 .8

4 .3

5.4

7.1

5 .7

4 .9

3 .9

5 .5

10.1

11.6

14.5

13. é

21.5

17.1

9 .4

11.0

4.4

i5.o

7.1

- 2 .1

2 14.6
279.9
203.6
203.1

2.6

3 .2

4 .0

4 .4

3 .8

4 .8

6 .3

5 .0

4 .1

3 .2

4 .5

T7Ì

376

475

47a

*71

571

6 .t

575

47«

470

571

177

97T

11.1

97#

12.6

173

475

11.6

3-85

9-86

8 .3

4-85

5—85

6-85^

7-85

8-85

9-85 10-05 11-85 12-83

1-66

2-86

3-86

4-86

»-86

6-06

7-86

»-86

9-86

Z W .7

_____________________________________________________IN IT IA L MONTH
♦OATA~FUR FOUR MONTHS AfcO R EV ISED TO REFLECT LATE REPORTING
PREPARED BY FEDERAL RESERVE BANK Of S T . LO UIS
NOVI

PRODUCER P K IC E IN D EX, FIN IS H ED CQQOSt EXCLUDING FOODS - SEASONALLY ADJUSTED*
CONPOUNOED ANNUAL RATES Of CHANCE
TERMINAL

IN IT IA L MONTH

1967 « 100

ttQMTH_________________________________________________________________________ ________ __________________________________________ ___________________________________________________________

3-85

4-85

4-85

5-85

6-05

7-05

0-85

9-05 10-05 11-05 12-05

1-86

2-06

3-06

4-06

5-06

6-06

7-06

0-06

9-06

290.9

11.1

300.6

5-85

9 .0

7 .0

6-85

4.7

1.6

-3 .5

7-85

3.6

1 .2

-1 .6

0.4

299.7
299.0

8-85

2.4

0 .4

- l.Y

- 0 .8

—

.0

9-85

1.2

-0 .7

-2 .6

- 2 .2

—

.5

-5 .1

10-85

2 .2

0 .8

-0 .4

0 .4

.4

1.6

11-85

2 .7

1.6

0 .7

1.6

.9

3.2

7. t

6 .6

12-85

3.2

2 .2

1.5

2 .4

.0

4.1

7 .3

6 .6

6 .6

1-86

1.9

0 .9

0.1

0.7

.7

1.3

2.9

1.1

- 1 .6

2-86

-0.1

-1.1

-2 .0

-1 .0

—

.1

- 2 .1

- 1 .5

3-86

-1 .4

- 2 .4

-3 .3

- 3 .3

— •.0

- 4 .0

-3 .9

4-86

- 2 .0

- 3 .0

-3 .8

- 3 .9

—

.3

- 4 .6

-4 .6

- 6 .6

-9.1

-12.6

—

.6

5-86

-1 .6

- 2 .5

-3 .3

- 3 .3

6—
86

-1 .4

-2.2"

- 2 .4

-Z.#

7-86

- 2 .3

-3 .1

-3 .0

- 3 .9

299.3
¿4 6 .0
300.1

0 .0

301.7
303.3
- 9 .1

500.9

- 3 .9

- 7 .7 -1 3 .4 -1 7 .5

294.1

- 6 .2

- 9 .2 -1 3 .9 -16.1 -1 4 .7
-1 3 .7 - 1 1 .7

292.2

290.0

- 0 .7

■ 290.7

-3 .0

- 3 .7

- 5 .3

- 7 .2

- 9 .7

- 9 .0

- 7 .1

- 3 .0

2 .9

.1 -i.2

-3 .0

— .4
4

-3.#

— .0
7

— .6
7

- 4 .9

-1.4

2.3

-4 .4

- 4 .3

- 5 .7

-7.1

- • .9

- 0 .9

- 7 .1

- 5 .0

- 3 .0

- 7 .6 -1 5 .3

— .2

2. 1

m .j
"

—0.0

8-66

- 2 .2

-3 .0

- 3 .6

- 3 .6

.9

-4 .1

- 4 .0

- 5 .2

— .4
6

- 0 .0

- 7 .0

-6 .1

- 4 .2

-5.1

-3.r

“ 8♦
3

9-86

- 1 .7

-2 .4

- 3 .0

- ¿ .9

.2

- 3 .2

- 3 .1

— .1
4

-5 .1

- 6 .3

- 6 .0

- 4 .2

-7.i

-1.0

- 1 .4

-5.5

5.4

7.A

10-86

-1 .5

-2 .2

- 2 .7

-2 .6

.•

-2 .9

- 2 .t

- 3 .6

- 4 .5

- 5 .6

- 5 .2

- 3 .*

- 1 .0

— .6
0

-1.2

- 2 .0

2.0

4 .7

1.7

3-85

t-85

5-85

6-05

7- 05

0-05

05
9-05 10-05 11-05 12—

1-06

7-06

3- 06

4-06

5-06

6-06

7-06

8-86

297.2

9-06

♦DATA FOR FOUR NONTHS ACO R E V ÌÌE D Y o




287.0
200.0
¿ o v .2

IN IT IA L MONTH
RÉÉLÉCT LATE REPORTING
PREPAIIEO BV FEDERAL RESERVE BANK Of S T . LO UIS
W rV fW g * u , m
-------------------------------

6

I N D U S T R I A L

RATIO

P R O D U C T I O N

SCALE

RATIO
SEASONALLY ADJUSTED

197 7-100

1978

1979

1980

PERCENTAGES

ARE

LATEST

PLOTTED»

DATA

ANNUAL

RATES

OCTOBER

1981
OF

CHANGE

1982
FOR

PERIODS

SCALE

197 7-100

1983

1984

1985

1986

IN DICA TED.

PR ELIM IN AR Y
PREPARED

BY

FEDERAL

RESERVE

BAN K

OF

ST.

LOUIS

INDUSTRIAL PRODUCTION
_________________________________________________________________ CQW*0UN0€0 ANNUAL M T C S Of CHANCE__________________________________________________________________
TERMINAL__________________________ ________________________________________IN IT IA L M O N T H ___________________________________________________________ 1977 « 100
MONTH
3-55 4-85 5-85 6-85 7-85 8-05 9-85 10-85 11-05 12-05
1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86
-1*0

5-85

1*0

6-85

0*6

1.5

0 .0

1
0
»

123.3

4-85

0*0

0 .3

- 1 .0

- 1 .9

8-85

2 .0

2 .7

2 .6

3 .9

10.2

123.6

3 .0
123.6
123.4

124.4

9-85

1.5

2 .0

1.7

2 .3

4 .5

0

10-85

0 .3

0 .5

0 .0

0 .0

0 .6

_3 8

- 6 .6

11-85

1.7

2.1

2 .0

2 .3

3 .4

1 3

2.4

12.3

12-85

2 .4

2 .8

2 .8

3 .3

4 .3

2 9

4 .2

10.1

8 .0

1-86

2 .7

3.1

3 .2

3*6

4 .6

3 5

4 .7

8 .7

6 .9

5 .9

2-86

1.7

1.9

1.8

2 .1

2 .7

1 5

1.9

4 .2

1.6

- 1 .4

0 .2

«1 1

-1 .1

0 .0

- 2 .9

3-86

0 .2

0 .3

0 .0

0 .0

124.3
123.6
124.8
125.6
126.2
- 8 .2

125.3

— .2 - 1 1 .7 -15 .1
6

123.6

4-86

1.0

1.1

1 .0

1.1

1.4

0 4

0 .6

1 .8

- 0 .2

- 2 .1

- 4 .7

- 2 .8

11.2

5-86

0 .6

0 .7

0 .5

0 .5

0 .8

-0 2

- 0 .1

0 .8

- 1 .0

- 2 .7

- 4 .7

- 3 .5

2 .9

— .7
4

6-86

0 .5

0 .6

0.4

0 .5

0 .7

-0 2

-0 .1

0 .7

- 0 .8

- 2 .2

- 3 .8

- 2 .6

2 .0

- 2 .4

0 .0

7-86

0 .9

1.0

0 .9

1.0

1.2

0 4

0 .6

1.4

0.1

- 1 .0

- 2 .0

- 0 .8

3 .2

0 .6

3 .4

7 .0

8-86

1.0

1.1

1.0

1.0

1 .3

0 6

0 .7

1.5

0 .3

- 0 .6

-1 .5

- 0 .3

2 .9

1.0

2 .9

4 .4

0 .7

1.4

0 .4

- 0 .4

- 1 .2

-0 .1

2 .6

1.0

0 .7

1.3

0 .3

- 0 .4

- 1 .1

- 0 .1

2 .2

0 .8

1-86

2-86

3-86

4-86

9-86

1.0

1.1

1.0

1 .0

1.2

0 6
<

10-86

0 .9

1.0

0 .9

1.0

1.2

0 6

3-85

4-85

5-85

6-85

7-85

8-85

9-85 10-85 11-85 12-85
in

U

ia

I

HoM

124.7
124.2
124.2
124.9
1.9

125.1

2 .4

3.3

1.4

1.0

125.2P

1.9

2 .4

1.0

0 .5

0 .0

5-86

6-86

7-86

8-86

4-*6

125.2P

h

P- PRELIM INARY
~
HkEftAftED ftŸ FÉDÉRAL ft ESC ftVE BANK OF ST . LOUIS
____________________________________ __ __________________________________________________________________________ NOVEMBER 14* 1986_____________________________________




7

P E R S O N A L

RATIO

SCALE

m on thly

TRILLIONS O DOLLARS
F

I N C O M E

to ta ls

at

SEASONALLY

annual

RATIO

rates

SCALE

TRILLIONS O DOLLARS
F

ADJUSTED

2.

2.0

1 .

I .8

1978

1979

1980

1981

1982

1983

1984

SOURCE»
PERCENTAGES

ARE

LATEST

PLOTTED.

DATA

ANNUAL

RATES

OCTOBER

OF

CHANGE

FOR

PERIODS

U .S .

1985
DEPARTMENT

1986
OF

CO MMERC E

IN D IC A TE D .

PR ELIM IN AR Y
PREPARED

_________________________________________________________________________________ ___ r e i S Q H A L

BY

FEDERAL

RESERVE

BA N K

OF

ST.

LO U IS

IHLQhfc__________________________________________________________________________________

COftPOUMOCD ANNUAL RATES OF CHANCE
______________________________________________________________________________________ ________________________________________________________________
P IL L IO N S OF
T
E
R
M
I
N
A
L
I
N
I
T
I
A
L
M
O
N
T
H
D
O
L
L
A
R
S
MONTH ________________________________________________________________________________________________________________________________________________________ANNUAL RATES
06
#6 9—
85 1-86 2-86 3-86 4-86 5-86 6-B6 7-86 8—
3-85 4-85 5-85 6-85 7-85 8-85 9-85 10-85 11-85 12—
4-85

11.1

3*302.7
3*288.5

5—
85

2 .7

- 5 .0

6-85

3.9

0 .4

6.2

7-85

3.9

1.5

5 .0

3*304.9
3 .9

3*315.4
3*320.5

8-85

3 .5

1.6

3.9

2 .9

1.9

9-85

3 .7

2 .3

4.2

3 .6

3 .4

5 .0

10-05

4 .5

3 .4

5.2

4 .9

5 .3

7 .0

9.1

11-85

4 .5

3 .6

5.2

5 .0

5.2

6 .4

7.1

5.1

12-05

5.9

5 .3

6.8

7 .0

7 .6

9.1

10.5

11.2

17.5

1-06

5 .3

4 .7

5.9

5 .9

6 .2

7.1

7 .7

7.2

8 .3

- 0 .2

5 .4

4 .8

6 .0

6 .0

6 .3

7 .0

7.5

7 .0

7.7

3.1

2-06

3*333.9

3*372.3
3*418.0
3*417.4
3 ,* 5 5 .5

6 .5

3*445.1

3-06

5 .2

4 .7

5.7

5.7

5 .9

6 .5

6 .8

6 .3

6 .6

3 .2

5 .0

3 .5

4-86

6 .0

5 .6

6 .6

6 .6

7 .0

7.6

8 .0

7 .8

8 .3

6 .2

8 .4

9 .3

15.4

5-06

5 .4

5 .0

5 .9

5 .8

6 .0

6 .5

6 .7

6 .4

6 .6

4 .5

5 .7

5 .5

6 .5

- 1 .9
0 .2

5 .4

5 .5

5 .3

5

5 .4

5.1

5 .1

5.1

5 .1

4 .6

5.4

7-86

5 .0

4 .6

8-86

4 .8

4 .5

6—
06

5 .9

6 .0

5 .4

5.5

5 .6
~ V
5.1

3*486.8
3*481.3
**4 8 1 .4

5 .6

3 .8

4 .6

4 .1

4 .3

- 0 .8

5 .Ì

3 .8

4 .5

4. Ì

4 .2

0 .7

¿.0

3 .9

5.1

3 .6

4 .2

3 .8

3 .9

1.2

2 .2

3 .2

2 .6

4 .2

3 .8

3 .9

1.7

2 .6

3.5

3 .Ì

3.9

3*492.9
3*500.5
3*511.6

9-86

4 .8

4 .4

5 .0

5 .0

5.1

5 .3

5 .3

5 .0

5 .0

3 .7

10-06

4 .8

4 .4

5 .0

4 .9

5 .0

5 .2

5 .3

4 .9

4 .9

3 .7

4 .2

3 .9

4 .0

2 .2

3 .0

3.7

3 .6

4 .1

4 .4

3-85

4-85

5—
85

6-85

7-85

A—
85

9-85 10-05 11-85 12-85

1—
86

2-86

3-86

4-86

5-86

6-86

7-86

8-86

9-86

IN IT IA L MONTH
P- P K E U m N A f t T ________________________________________________________________________________________________________________________________________________________________________

________________________________________________________________________________________________________________ PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 20» 1986




8

RETAIL
R A T IO

SALES

S C A LE

BILLIONS

R A T IO

OF

DOLLARS

SEASONALLY ADJUSTED

S C A LE

BILLIONS

OF

DOLLARS

17 17 18 18 18 18 18 18 18
98 99 90 91 92 93 94 95 96
SOURCE:
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PER IO D S
LATEST DATA PLOTTED:

SEPT EM BER,

U .S .

DEPARTMENT OF COMMERCE

INDICATED.

OCTOBER ADVANCE ESTIM ATE
PREPARED BY FEDERAL RESER VE BANK OF ST.

LO U IS

R E T A I L SALES
COMPOUNDED ANNUAL
INITIAL

TERMINAL
MONTH

RATES OF CHANCE
MILLIONS OF

MONTH

DOLLARS
3-85

4-85

6-85

T— 85

8-85

9-85

10-85 11-85 12-85

1-86

3 -8 «

7-86

4-86

6-86

5-86

7-86

9 -8 6

8-86

114*254

11.2

6-05

5-85

27*1

5-05

4-85

5.4

113*992

-2.7
-4.1

113*468

-5.4

7-85

7.2

1.3

9.6

5.6

8.5

9-85

9.1

11.9

10-85

*•5

11-85

4.6

12-85

1.2

5.8

1.8
3.4

1-86

5.8

3.6

2-86

5.1

3.1

3-86

4.2

2.3

4-86
5-86
6-86

h »7
5.1
*.9

3.0
3.6
3.5

114*620

12.9

3.4

8-85

16.2
12.3
2.0
2.5
4.4

4.4
3.8
2.8
3.6
4.1
4.0

116*349

19.7
19.0

22.1

3.9
4.2

1.1

2.1

6.1
5.9
5.0
3.8
4.5

118*499

24.6

114*930

-7.1 -30.7

-3.1 -14.6
4.8

1.3

115*433

5.4

-5.4

4.8

2.1

-2.9

8.7

3.9

1.5

-2.6

6.0

6.3

3.7

3.3

-0.6

2.7
3.6

0.5
1.8

-3.0
-1.1

5.1

4.8

4.9

iiì**óó

-1.5
-3.4

2.2

116*684

-5.2
2.7

1.3

117*t 15

11.1

118*675

5.0

4.3

2.7

0.2

5.7

5.7

3.8

3.4

5.1

10.7

4.8

4.1

2.7

0.5

5.3

5.3

3.6

3.3

4.6

8.0

6.5

2.9

5.1

4.5

3.2

1.3

5.7

5.7

5.4

8.2

7.3

5.8

6.1

5.5

4.4

2.8

7.5

10.2

10.0

10.0

16.3

20.3

5.2

3.9

4.4

8-86

5.9

4.7

5.3

9-86

9.3

9.1

10.1

9.9

9.2

8.0

12.5

13.2

10-86

5.3

4.2

4.7

5.3

4.8

3.8

2.4

5.8

5.8

3— 85

4-85

5-85

9-85

9-85

10-85

6-85

7-85

6.9

7.1

4.4

6.0

4.2
6.2

12.9
4.9

11-85 12-85
INITIAL

P-

117*349

1.8

10.4

7-86

8.4

IÌ6*661

15.9

10.5

13.9
4.8

5.7

1-86

2-86

10.2

22.3

118 *960
119*804

8.9
13.6
34.1

25.5

7.3

6.7

6.0

3-86

4-86

5-86

48.8

121»523

18.6

6-86

7-86

12è*Ò0^P

86.5

6.1

6.8

0.3

8-86

-46.6

m*5Ò7E

9-86

MONTH

PRELIMINARY

E- ESTI MATEO




PREPARED

9

BY

NOVEMBER

14»

FEOERAL
1986

RE SERVE

BANK OF ST. LOUIS

HO U R L Y C O M P E N S A ! IOK* B U S I N E S S SECTOR
C Q M f Q U N Q E Q A H H U á l R A T E S O f C H A M f i E -----T E R M I N A ! _________________________________________________________________________ I N I T I A L Q U A & U E 1 _________________________ _____________________________________________ L ? 7 7 - l t t 9
QUARTER
____________4 - a i
i- 8 2
2-82
^-8?
4 - 8 2 ___ l-fl3___2 = 4 3 ___3 - 8 3
4 - 8 3 ___ Irflá___2 = 1 A ___________ 4 - 8 4 — l = A 5 — ¿ - f l l - 3 - 9 5
4-ft5___ 1 - 8 6
2 - 8 6 _______________

1-S 2____ ____________________________________________ _______________________________________________________________________________________________________________
153*8

2 -8 2

8 .6

6 .8

"*-82

8 .2

7 .1

7 .5

4 ~ «2

7 .2

6 .2

5 .9

4 .4

5 .3

4 .3

5 .7

1— 8 3

1 5 6 .6
1 5 8 .3
1 5 9 .9

4 .1

160*9

2 -8 3

5*9

5 .0

4 .6

3 .7

3 .3

2 .5

3 -8 3

5 .3

4 .4

4 .0

3 .1

2 .7

2 .0

1 .5

4 -8 3

5 .3

4 . 6

4 .2

3 .6

3 .3

3 .1

3 .4

161*5

5 .3

16 3 .6
1 6 5 .9

1 -8 4

5 .3

4 . 7

4 .4

3 .9

3 .8

3*8

4 .2

5*5

5*7

2 -8 4

5 . 1

4 .5

4 .2

3 .8

3 .7

3 .6

3 .9

4 .6

4 . 3

2 .9

3 -8 4

5 .0

4 . 5

4 .3

3 .9

3 .8

3 .8

4 .0

4*6

4 .4

3 .8

4 . 6

4 -8 4

4 .9

4 . 5

4*2

3*9

3*8

3*8

4*0

4*5

4*3

3*8

4*2

167*1
169*0
170*6

3*8

172*3

1 -8 5

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

2 -8 5

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

3 -8 5

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 -8 5

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 -8 6

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 -8 6

4 .6

4 .2

4*1

3*8

3*8

3*8

3*9

4*1

4*0

3*8

3*9

3*8

3*8

3 .7

3*4

3 . 0

2 . 7

2 .9

3 -8 6

4 .5

4 .2

4 .Q

3 .8

3 .7

3 .7

3 .8

4 .0

3 .9

3 .7

3*8

3 .7

3*7

3 .6

3 .3

3 .0

2 . 8

2 . 9

2 .9

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 -8 4

2 -8 4

3 -8 4

4 -8 4

1 -8 5

2 -8 5

3 -8 5

4 - 8 5

1 -8 6

2 -8 6

174*5
1 7 6 .4
1 7 8 .0
179*1
180*4
1 8 1 . 7P

INITIAL QUARTER

P - PRELIMINARY
PREPAREO BY FEOERAL

RESERVE

BANK OF

ST* LOUIS

OCTOBER ¿ ft 1 ? M _______________________________

OUTPUT PER HOUR OF ALL PERSONS* BUSINESS SECTOR
_______________________________________________________________________________________COMPOUNDED ANNUAL RATES OF________________________________________________ ____________________________________
CHANCE
TPftMI MAI
______________________________________________________________________________ ___________INITIAL

QUARTER_________________________________________________
_____________________________________ IQO
1977«

QUARTER

4 —A I

i-ft?

7 -8 ?

\ -ñ ?

4 -8 7

1 -8 *

2 -8 3

3 -8 3

4 -8 3

2 -8 4

1 -8 4

3 -8 4

4— 8 4

1— 85

2— 85

3 -8 5

4 - 8 5

1 -8 6

2 -8 6
99*8

1— 8 2

- 0 . 4

2 -8 2

0 .6

1 .6

3 -8 2

0 .5

1 .0

0*4

1 .1

1 .6

1*6

4 -8 2

100*2
100*3
1 0 1 .0

2 .8

101*9

1 -8 3

1 .6

2 .1

2 .3

3 .2

3 .6

2 -8 3

2*4

3*0

3*3

4 .3

5*0

6*4

3 -9 3

1 .8

2 .1

2 .2

2 .7

2 .6

2 .2

- 1 . 9

4 -8 3

1 .9

2 .3

2 .4

2 .8

2 .8

2 .5

0 .6

3 .1

1 -8 4

2 .2

2 .5

2 .7

3 .0

3 .1

2 .9

1 .8

3*7

4*3

2 -8 4

2 .2

2 .5

2 .7

3 .0

3 .0

2 .9

2 .0

3 .4

3 .5

103*5
103*0
103*8
104*9
105*6

2 . 7

105*5

3 -8 4

2 .0

2 .2

2 .3

2 .6

2 .5

2 .3

1 .5

2 .4

2 .2

1 .1

- 0 . 4

4 -8 4

1 .8

2 .0

2 .1

2 .3

2 .2

2 .0

1 .3

1 .9

1*6

0*8

- 0 * 2

0*0

1 -8 5

1 .8

1 .9

2 .0

2*1

2 .0

1*8

1 .2

1 .7

1*5

0*8

0*1

0*4

2 -8 5

1 .8

2 .0

2 .0

2 .2

2 .1

1 .9

1 .4

1 .9

1*7

1*1

0*8

1*1

1*7

2*7

3 -8 5

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 -8 5

1 .6

1 .7

1 .7

1 .8

1*8

1 .6

l . l

1*5

1*2

0*8

0*5

0*7

0*9

0*9

0*0

3-86

.

107*3
-3 * 3

106*4

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

1*6

1 .7

1 -7

1 .8

1*8

1 .6

1*2

1*5

1 -4

l . l

0 .8

1 .0

1*2

1 .3

0 . 9

0 .1

1*9

0*4

1*5

1*6

1*6

1*7

1*7

X* 5

1*1

1*4

1 .2

0*9

0 . 8

0*9

1*0

1*1

0*8

0*1

1 .3

0*2

0 .0

3— 82

4 -8 2

2 -8 3

3 -8 3

4 -8 3

1 -8 4

2 -8 4

3 -8 4

4 -8 4

1 -8 5

2 -8 5

4 -8 5

1 -8 6

2 - 8 6

4 -8 1

1 -8 2

2 -8 2

1 -8 3

INITIAL

P-

106*4

1*7

L-86
2-8 6

1 0 5 .5
1 0 5 .7

0*8

3 -8 5

107*3
1 0 7 .4
107*4P

QUARTER

PRELIMINARY




P R E P A R E O BY FEOE R A L R ESERVE BANK OF ST* LOUIS
O C T O B E R ¿ f t 1 3 1 6 _____________ ________________________ _

10

PRODUCTIVITY,
RATI O

COMPENSATION,

AND

LABOR

S CAL E

COSTS
RATI O

1977-100

SEASONALLY ADJUSTED

S CAL E

1977-100

SOBftCE. 0 .8 .

DEPARTMENT OF LABOft

PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIODS INDICATED.
LATEST DATA PLOTTED. 3RD QUARTER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

UNIT LABOR COSTS*

____________________________________________ _________________________________ CnHPOUMQFD A M UAL
M

BUSINESS

SECTOR

BATES OF CHAHfcE______________ ____________________________ __________________________________

TERM
INAI__________________________________________________ IMl II Al QUAtTEl_________________________________________________ 1977MW
QUARTER
4 - HI

l-ft2

2 -8 2

4 -8 2

1 -8 3

2 -8 1

3 -8 3

4 -1 1

1 -8 4

2 -8 4

3 -8 4

4 -8 4

1 -8 5

2 -0 5

3 -0 5

4 - 0 5

1 -0 6

2 -0 6

1 0 .4

2 - 8 2

7 . 9

5 .4

3 -8 2

7 .6

6 . 3

7 .2

1 5 3 .5
1 5 6 .2
1 5 6 .8

6*1

4*7

4*3

1 .5

4*0

3*5

2*9

0*8

0*0

2 -8 3

3 .*

2 .1

1 .3

- 0 * 6

- 1 . 7

- 3 . 3

3 - 8 3

3 * 4

2*3

1*7

0*4

0 .0

0 .0

3 .4

4 - 8 3

3*3

2*3

1*8

0 .0

0 . 6

0 .0

2 .0

2 .3

1 -8 4

3*1

2*2

1*7

0 .9

0 . 7

0 .9

2 .3

1 .0

1 .3

2 -8 4

2 .0

2 . 0

1 .6

0 . 0

0 . 6

0 .0

1 .0

1 .3

0 . 0

0 . 3

3 -8 4

3 .0

2 .3

1*9

1 .3

1 .2

i . 4

2 .4

2 .2

2 .1

2 . 5

4 .9

4 - 8 4

3*0

2*4

2*1

1*5

1*6

1*0

2*6

2*5

2*5

3*0

4 .3

3*0

4-ft2
1
O
D
W

_

\-ñ?

1 5 1 .5

1 -8 2

1 5 6 .0
1 5 5 .5
1 5 6 .0
1 5 7 .7
1 5 0 .2
1 5 0 .3
1 6 0 .2
1 6 1 .7
1 6 3.1

1 -0 5

3 .1

2 .5

2 .2

1 .7

1 .0

2 .0

2 .0

2 .7

2 .7

3 .1

4 .1

3 .7

3 .5

2— B5

3 .0

2 . 5

2 .2

1 .0

1 .0

2 .0

2 .7

2 . 6

2 . 6

2 . 9

3 .6

3 .2

2 .9

3 -8 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 .0

4 - 8 5

3 .1

2 . 7

2 .5

2 .1

2 . 2

2 .4

3 .0

2 .9

3 . 0

3 .2

3 . 0

3 . 5

3 .5

4 .1

7 .2

1 -8 6

2 . 9

2 .5

2 .3

1 .9

2 .0

2 .1

2 .6

2 . 6

2*6

2*7

3 .1

2 .0

2 .6

2 . 4

3 .2

2 - 8 6

2 .9

2 . 5

2*3

2*0

2*0

2*1

2 . 6

2*5

2 . 6

2 .7

3 .0

2 .0

2 . 4

2 . 9

0*0

2 . 4

2 . 5

2 . 9

1 .4

2 . 5

2 . 6

2 - 8 5

3 -8 5

4 - 0 5

1 -0 6

2 - 8 6

2 . 9

2 .5

2 .3

2 . 0

2 . 0

2 .2

2 .6

2 .5

2 . 6

2*7

3 .0

2 .7

2 .6

4 -0 1

3 - 8 6

1 -0 2

2 -0 2

3 -0 2

4 -0 2

1 -0 3

2 -0 3

3 -0 3

4 -0 3

1 -0 4

2 -0 4

3 -0 4

4 -8 4

2 . 2

1 -8 5

1 6 4 .0
1 6 4 .4
1 6 7 .3
- 0 . 7

1 6 7 .0
1 6 0 .0
1 6 9 . IP

INITIAI. QUARTER

P-

PRELIMINARY




PREPARED BY
QCTQMI 29.

11

F E O E R A L R E S E R V E BAJtft O F S T . L O U I S
1 + 1 4 _______________ ___________________________

fiRttSS NATIONAL ..PRODUCT IN CUftREHT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANCE
I N I T I A L QUARTER

TERMINAL
QIIAfiTFft
4-8 1

1 -8 2

2-82

3-82

1 -8 2

2 .9
2.8

4 .3

3.1

4.3

3.4

3. 9

4.9

4.5

5.5

4-83

1-8 4

2-84

DOLLARS
ANNUAL RATES
3-84

4-84

1-8 5

2 -8 5

3 -6 5

4-85

1-86

2-8 6

4.2

1-8 3

3 -8 3

2.5

4 -8 2

2 -8 3

6.2

3- 8 2

1-83

-0 .2

2 -8 2

4-8 2

3 *1 12 .6
3* 159 .5
3 1179 .4
3*2i2.5
6.8

3* 265.8

2 -8 3

5.3

6.5

6 .6

8.0

9 .9

13 .0

3-83

5.9

7.0

7 .1

8 .3

9 .7

11.2

9.4

4-8 3

6.7

7.7

8.0

9.1

1 0 .4

11 .6

10.9

12 .4
14.9

3* 367 .4
3*4 43 .9
3* 545 .8

1-8 4

7.6

8.6

9 .0

10 .1

11.3

12.4

12.2

13 .6

3* 670 .9

2 -8 4

7 .6

8.6

8.9

9 .8

10.7

11.5

11.2

1 1 .8

11.5

8.2

3 -8 4

7.5

8.3

8 .5

9.3

10 . 1

10 .6

10.1

10 .3

9.7

7 .1

6.1

9 .2

8.5

6.4

5.5

4.9

3* 743 .8
3* 799.7
3* 8 4 5 .6

4 -8 4

7.3

8 .0

8.2

8.8

9.4

9.8

9.3

1-8 5

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 -8 5

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 -8 5

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 -8 5

7 .0

7.5

7.6

8.0

8.4

8 .5

8.1

7.9

7.4

6 .3

6 .0

6.0

6 .3

6 .1

6.3

3* 909 .3
3 *9 65 .0
4 *030.5
4* 08 7 .7

5.6

4* 14 9 .2

1-86

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

6.7

7.2

7.2

7 .5

7.8

7.9

7.4

7.3

6.8

5 .9

5 .6

5.5

5.6

5.4

5.3

4.8

4.3

2 .6
4 .5

6.4

1-86

2-66

6.7

7.1

7.2

7.5

7.7

7 .8

7 .4

7.2

6 .7

5.9

5.7

5.6

5.8

5.6

5.5

5.2

4-8 1

3-86

5.0

1-8 2

2-82

3-82

4-82

1-8 3

2—83

3 -8 3

4-8 3

1 -8 4

2 -8 4

3 -8 4

4-84

1 -8 5

2-65

3-65

4-85

4* 1 7 5 .6
4* 241 .1

IN IT IA L i UARTER
Q

________ _______ ______________________ HtEPAftEP BY FEOEfiAL RESERVE B V f i P f STt I W S
lf f
NOVEMBER

19*

1966

GROSS NATIONAL PRODUCT IN 1 9 8 2 DOLLARS_____________________________________________________________
COMPOUNDED ANNUAL RATES OF CHANGE
____________________________________________ ____________________________________________________ B I LL IO N S Of
TERMINAL
I N I T I A L QUARTER
DOLLARS
QUARTFR_________________________________________________________ ____________________________________________ _____________________ ___________ ____________
ANNUAL RATES
1- 8 6
2-86
3-65
4-85
1-8 5
2 -6 5
2 -8 4
3-84
4-84
1-82
2-82
1-83
2 -8 3
3-83
4-83
1 -8 4
3-82
4-8 2
4 -8 1
i* t? ó .4

1-8 2

-5 .9

2-82

-2 .4

1.2

3-82

-2 .7

-1 .0

-3 .2

4-82

-1 .9

-0 .5

-1 .3

3 * 17 9 .9
3*1^4.5
3*1 59 .3

0.6

3*1

1-83

-0 .8

0.5

0.3

2.0

3.5

2-83

0.8

2.2

2.5

4 .4

6.4

9.3

3-83

1.5

2.8

3.2

4.8

6 .3

7.7

6 .0

4-83

2 .2

3.5

3.8

5.3

6 .5

7.5

6.7

7.3

1-84

3.1

4.2

4.7

6 .0

7 .2

6*1

i.i

6.5

9.8

2-84

3.3

4.3

4.7

5.9

6 .6

7.5

7.0

7.4

7 .4

5.0

66. 6

3* 25 8 .3
3 *3 06. 4
3* 365 .1
3* 44 4 .7
3 *487.1
3 * 5 0 1. 4

3-84

3.2

4.1

4.5

5.4

6 .2

6.6

6. 1

6.1

5 .7

3.7

2 .Í

4-84

3.0

3.9

4.2

5.0

5 .6

5.9

5 .^

5. Í

4.6

2 .9

1.9

1.5

1 -8 5

3.0

3.8

4.1

4 .8

5 .3

5.5

5.0

4.8

4.3

3 .0

2 .3

2 .3

3 .1

2-85

3.0

3.7

3 .9

4 .6

5 .Ó

5.1

4 .6

4.4

4.0

2.6

2.3

2.3

2.7

3-65

3. Í

3.7

Í.9

4 .5

4 .9

4.0

4.6

4.4

4.0

3.1

1.7™

2.7

3 . 2 — TZ2

4.1 "

4-65

3.0

3.6

3.8

4.3

4.7

4.6

4.3

4.1

3.8

2.9

2.6

2.6

2.9

¿ .6

3.1

2*1

1- 8 6

3.0

3 .6

3 .6

4 .3

4 .6

4.1 "

4<T5

4.1

3. 8

3.0 '

2 .r~

2.6

3.1

i.l

i . y

¿.9

2-8 6

2.9

3.4

3 .6

4.1

4.3

4.4

4.0

3.8

3.4

2.7

2.5

2 .5

2.7

2 .6

2.6

¿.1

3-86

2.9

3.4

3.5

4 .0

4 .2

4.3

3.9

3.7

3. 4

2.6

2 .5

2 .5

2.7

2 .6

2 .7

2.3

2.4

1. 7

2.9

4-61

1-62

2-62

3-62

4-6 2

1-63

2-63

3-63

4-6 3

1-64

2-64

3-6 4

4-6 4

1- 6 5

2-6 5

3-85

4-8 5

1- 8 6

2-66




3* 52 0 .4
3 *5 47.0
3 *5 6 7 .6

2.*

3 *6 0 3 . 8
3*6 22 .3
3* 65 5 .9

3*8

3 * 6 ¿ l .4

0.6

3 *6 07. 3

I N I T I A L QU ARTE»

r H E f A M E P or f t P E M l »ESj R V E »«»« of si. LOUIS
NOVEHSE«

12

!♦,

1986

GROSS N A T I O N A L P R O D U C T
RA T IO SCA LE
QUARTERLY TOTALS AT ANNUAL RATES
R A 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
6

3.0
2 . 8

I
0

9
8

7
6

2.7
978

979

980

198

1982

1983

1984

1985

1986

SOURCE: U .S . DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTED: 3RD QUARTER




P R E P A R E D

13

BY

F E D E R A L

R E S E R V E

B A N K

OF

ST.

L O U I S

GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

I982-IO
O

SCALE

1 8 -1 0
92 0

17 17 18 18 18 18 18 18 18
98 99 90 91 92 93 94 95 96
■AS U SED

IN

N A TIO N A L

PERC EN T A G ES
LA TEST

ARE

INCOME ACCOUNTS

ANNUAL

DATA P L O T T E D '

SO U RCEi

R A T E S OF CHANOE FOR

P E R IO D S

D EPARTM EN T

OF

COMMERCE

3RD O UARTER
PREPA RED

in

U .S .

IN D IC A T E D .

P L IC II PRICE DEFLATOR

F irf if t O t t
I

CONPOUNOEO AN N UAL
IN IT IA L

T E R M IN A L

RATES

BY FED ER A L

RESERVE

tA N K

OF

ST.

L O U IS

NATIONAL PRÛDUCT

O F CH AN CE
1 98 2

Q UARTER

*

100

QHABTPQ
4-81
1-82
2-82

5 .4

1-82

2-82

3-82

4-82

1 - 83

2-83

3-83

4 - 83

1-84

2-84

3-84

4—64

1-85

2-85

3-85

4-85

1-86

2-86
9 8 .2

5 .9
5 .0

9 9 .4
1 0 0 .8

3-82

5 .5

5 .4

5 .8

4-82

5. 1

4 .8

4 .7

3 .6

101

.1

1 0 2 .5

1-83

4 .7

4 .4

4 .2

3 .4

3 .2

2-83

4 .4

4 .1

3 .9

3 .3

3 .2

3 .2

3-83

4 .3

4 .0

3 .8

3 .4

3 .3

3 .3

3 .5

4-83

4 .3

4 .1

4 .0

3 .6

3 .6

3 .8

4 .1

4 .7

1-84

4 .4

4 .2

4 .1

3 .8

3 .8

4 .0

4 .3

4 .7

4 .6

4 .0

4 .1

3 .8

1 0 3 .3

IÖ4.2
1 0 5 .4
1 0 6 .6
1 0 7 .4

3 .0

2-84

4 .2

4 .1

3 .9

3 .7

3 .7

3 .8

3-84

4 .2

4 .0

3 .9

3 .7

3 .7

3 .7

3 .9

3 .9

3 .7

3 .2

3 .4

4-84

4 .1

3 .9

3 .8

3 .6

3 .6

3 .7

3 .8

3 .8

3 .6

3 .3

3 .4

3 .4

1-85

4 .1

3 .9

3 .8

3 .6

3 .6

3 .7

3 .8

3 .8

3 .6

3 .4

3 .5

3 .5

3 .7

2-85

4 .0

3 .9

3 .8

3 .6

3 .6

3 .6

3 .7

3 .7

3 .6

3 .4

3 .4

3 .5

3 .5

3 .3

108 . 3

LÔ4. 2
1 1 0 .2

Lll.l

11
1 .8
12
1 .8

3-85

3 .9

3 .8

3 .7

3 .5

Ì.4

"" i . 5

i. 6

3 .4

5.7

*.F"

5.2

¿.Ç

2 .5

4-85

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

Ì.2

i. i

3 .6

1-86

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

i.t

2-86

3 .7

3 .6

3 .5

3 .3

3 .3

3 .3

3 .3

3 .3

3 .2

3 .0

3 .0

3 .0

2 .9

2 .7

2 .6

2 .6

2 .1

1 .8

3-86

3 .7

3 .6

3 .5

3 .3

3 .3

3 .3

3 .4

3 .3

3 .2

3 .1

3 .1

3 .0

3 .0

2 .9

2 .8

2 .9

2 .6

2 .7

3 .6

4 - 81

1-82

2-02

3-82

4-82

1-83

2-83

3-83

4-Ô3

1-84

2-84

3-84

4-84

1-Ô 5

2-85

3-85

4-85

1-86

2-86




IN IT IA L

113. 5

¿.5

1 1 4 .Ô
1 1 5 .0

'Q UARTER

PREPAREO
N O V EM B ER

14

BY FEO E R A L
19» 198 6

RESERVE

BANK OF

ST.

L O U IS

P E R SONAL CONSUttPTlQH EXPENDITURES IN CURRENT D OLLARS
CO M P O U N D E D ANNUAL RATES OF CHANCE
terminal

B I LLIONS OF

I N I T I A L QUARTER

QUARTER

annual

4- 8 1

1-8 2

2 -8 2

3 -8 2

4-82

1 -8 3

2-83

3-83

4-83

1 -8 4

2 -0 4

3 -8 4

4-84

1 -8 5

2-85

4 -8 5

3-85

1-86

rates

2-86

7.6

1* 99 6 .3

2 -8 2

6.6

2 * 0 2 3 .8

3— 82

7 .2

7.1

8.5

4 -8 2

8.0

8.1

9.4

1- 8 3

7.5

7.5

2 -8 3

8.4

8 .6

3-83

8.5

8.7

4 -8 3

8.7

1- 8 4

5 .6

2 *0 6 5 . 6
10.3

2 * 1 1 7 .0

8.2

8.0

5.7

¿*144.6

9.3

9.6

9 .3

1 3 .0

9 .3

9 .5

9 .3

11 .1

8 .9

9.4

9 .6

9.4

1 0 .6

9.5

9.7

8.7

8.8

9.3

9.4

' 9.2

10 .1

9.2

9.1

8.6

2 -8 4

8.7

8.9

9.3

9 .4

9.2

9.9

9.2

9.1

8.8

9.1

tjj
1
C
O
+

1- 8 2

8.4

8.5

8.8

8.8

8.6

9. 1

8.3

8.1

7.5

7.0

5.0

4-84

8.3

8.3

8.6

8.6

8.4

8.8

8 .1

7.9

7.4

7.0

6.0

7 .0

2*213.0
2 *2 62.8

9.3

2 * 3 1 5 .8
2 *3 63. 8
2 *416.1
2*445.6
2* 48 7 .2

1- 85

8 .2

8.2

8 .5

8.5

0.3

8.6

8.0

7 .8

7.4

7 .1

6.4

7.1

8. 1

8.2

8.4

8.4

8 .2

8 •b

7.9

7.7

7.4

7 .1

6 .6

7 .2

7.3

3-85

8.1

8.2

8 .4

8.3

0.2

8 .4

7.9

7 .>

Ì. 5

^.3

6.9

7 .4

2*530.9

7.2

2 -8 5

2* 5 7 6 .0

7.3
7.7

2 *6 2 7. 1

8.2

2 *6 67. 9

4 -8 5

8 .0

8.0

8.2

8.2

0 .0

8 .2

7.8

7.6

7.3

7.2

6.8

7.2

7.3

7.3

7.3

6 .4

1- 8 6

7.8

7.8

8.0

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

4.6

6.3

6.5

6.5

6.3

6.1

5.4

4.9

2-86

7.8

i-n

7.7

7.8

7.7

7.6

7.7

7.3

7.8

7.9

7.9

7.7

7.8

7 .5

1-Ç2

Izà l

3 -8 2

Ì-&.Ì

i-8 3

7.1

6.8
7.1

iZ È Ï

7.3

6.6
6.9

6 .7

6.9

6.9

i-a*

6 .9

2*732.0

1^5

6.4

6.4

7.4

3-85

¿ .8

4-8 5

1-86

2*795.9

9.7
>
0
«0
1
<
N

3-86

7 .7

2* 6 9 7 .9

I N I T I A L QUARTER

P R E P A R E D BY 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
N O V E M B E R 19* i $ 8 6
P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S IN 1 9 0 2 D O L L A R S
C O M P O U N D E D A N N U A L RATES OF C H A N C E
TERMINAL

IN ITIA L
1 -8 2

2-8 2

<
N
0
0
1

4 -8 1

4-8 2

1-83

2 -8 3

3-83

4-83

1 -8 4

QUARTER
2-84

3-84

4-84

1-85

2-85

3 -8 5

4-8 5

1-86

2-86

B I L L I O N S OF
DOLLARS
ANNUAL RATES
¿ • ô ii.i

1-8 2

2.2

2 -8 2

2.1

1.9

3 -8 2

2 .1

2.0

2.1

4 -8 2

2.9

3 .1

3.7

¿♦Ô4T.Ô
¿*651.è
"2*070.7

5.3

¿*7W.2

1-8 3

2.9

3.1

3.5

3.0

2-03

3.8

4.1

4.6

5 .5

8.0

3 -0 3

4.0

4.3

4.8

5.4

5.4

6 .7

4-03

4.2

4.4

4 .9

5.4

6 .3

5.4

5.5

1-04

4.2

4.4

4 .8

5.7

4.9

4.8

4.1

2-04

4.3

4 .6

4.9

5.8

5.2

5.2

5.0

6.0

2 * 135 .1
2 * 16 3 . 0

5.3

2*191.9
2* 2 1 3 .8
'

¿*¿53.3

3-04

4 .1

4.2

4.5

4.7

5.0

4.4

4.2

3.8

3 .6

1.3

4 -0 4

4.0

4.2

4.4

4.6

4.5

4.8

4.2

4.0

3.6

3.5

2.3

3.3

1-85

4.0

4 .1

4 .3

4 .5

4 .4

4 .6

4 .1

3.9

3.6

3.5

2.7

3 .5

2 * 27 1 .7
2* 2 9 2 .3

3.7

2* 3 1 1 .9

2-85

3.9

4.1

4.2

4.4

4.3

4 .5

4.1

3.9

3.6

3.5

2.9

3.5

3.6

3.5

3-85

4.0

4 .2

4 .3

4 .5

4 .4

4.6

4.2

4.1

3.9

3.8

3.4

3.9

4.1

4 .4

r.T"

4-85

3 .9

4.0

4.1

4.3

4.2

4.3

3 .9

3.8

3 .6

3 .5

3. 1

3.5

3.5

3.5

3.5

I .Ì

2 *3 4 2 . 0

¿*351.7

1 -8 6

3.9

4 .0

4.1

4.2

4.2

4.2

3.9

3.8

3.6

3.5

3.2

3.5

3.5

3.5

3.5

2.6

3.6

2-86

4 .0

4.1

4.2

4.4

4 .3

4.4

4 .1

4 .0

3.8

3.8

3.5

3.9

4.0

4.0

4 .2

3.8

4 .9

3-86

4 .1

4.2

4.4

4 .5

4.4

4 .5

4 .3

4.2

4 .1

4.1

3.9

4 .2

4.3

4.4

4 .6

4.5

4.4

4 -8 1

1-82

2-82

3-82

4-8 2

1-83

2-83

3-83

4-83

1-8 4

2 -8 4 _ 3 - 8 4

4-84

1-85

2-85

3 -8 5

4-85




¿*¿44.3

5737Z-.7
6.Ì

2* 40 0 .4

¿*4U.Ô
1—86

2—86

I N I T I A L QUARTER

PR E » A K E P BT F f P e K A l (teSERVE BAWK Of ST. LOUIS
NOVEH8E* 19, 19 »

15

6

:

cm n** P à i W A T E

D O M E S T I C IM V K T h e m t I N C U K E E U T D O L L A R S
COMPOUNOEO ANNUAL RATES Of CHANCE

TERMINAL
OUARTFa

initial

4-81

1-82

2-82

3-82

4-82

1-83

2-83

3-83

4-83

1-84

B I L L I O N S OF
DOLLARS
ANNUAL RATES

quarter

2-84

3-84

-30.9
2-82

4-84

1-85

2-85

3-85

4-85

1-86

2-86

~

T59.5

-13.8

4¿7.8

452.2

3-82

-13.5

-3.2

-12.7

4-82

-18.7 -14.2

-23.3

1-83

-12.2

-11.I -10.3

19.6

9.7

38.1

5 9 .5

1 4 .9

37 .4

47.2

35.9

22.0

4 1 .6

49.8

45 .1

7.3

-6.8

14.2

1 5 .4

-32.7

409.¿
42Ö.3

TBT7T"
519.7
579.8“

5 4 .9

¿59.5

1 9 .8 2 1 .7 2 8 .6 4 6 .4 5 4 .0 5 2 .2 6 1 .0 6 7 .4
17.3

1 8 .6

23.8

37.1

40.9

3 6 .6

3 6 .8

26 .6

10 .9

16.3

17.3

21.8

32.5

34.8

3 0 .3

29.0

9.5

14.1

14 .8

18.4

27 .0

28.2

23.6

2 1 .2

14.0

0.2

12.3

1 2 .7

1 5 .7

22.8

23.2

18 .8

16 .2

9.7

8.3

12.2

12.6

15 .2

21 .5

2 1 .8

17 .7

15 .3

9.8

7.3

TÖTa

1 1 .0

1 3 .3

1 8 .8

18.7

FTTS

12 .5

774

7.4

10.6

1 0 .8

1 2 .8

17.8

1 7 .6

14.1

11 .9

1 1 .4

11.7

13 .7

18.4

18 .3

15.1

9.9

10.1

11 .8

15.9

15 .7

12 .6

9.0

10.5

1 4 .2

1 3 .9

11.0

4—82___1-83

2 -8 3

657.5

21 .3

- h - f ì J ___ ¿Tfl¿___________3 - 8 2

-1 .2

¿7 0 .3
¿ s i.r

l.l

-5 .4

-1 .4

-5 .8

-6 .2

0.9

1.5

-0 .6

1.8

-0 .2

0.Ò

-1.9 --0.I---2.i -4.7

1 .2

-0 .1

-1 .3

¿5 0 .¿
667.1

1 0 .5

1 .3

3 .9

¿5 7 IT

0.7

776

13 .2

8.3

16.1

10 .7

3.0

6 .1

66 9. 5

7Ó
0.5

25 .3

"S57.5

5.4 -1 1 .3

"T7Ï
3-83

4- 8 3

1-84

2-84

3-84

4-84

1 -8 5

¿ -85

3-8 5

-972

4-8 5

1~86

¿747 Ô

-7.1
2-86

I N I T I A L QUARTER

PREPARED BY FEQERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 19* 1986
GROSS PRIVATE DOMESTIC INVESTMENT IN 1982 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANCE
B I LL IO N S OF
DOLLARS
ANNUAL RATES

I N I T I A L QUARTER

TERMINAL
4- 8 1

1-82

2-8 2

3-82

4-8 2

1 -8 3

2-83

3- 83

4-8 3

1-84

2-84

3-84

4-84

1- 8 5

2-85

3- 8 5

4-8 5

1-86

2-86
46 4. 2

1-8 2

-3 5 .5

2-82

-1 8 .5

2 .9

3-82

-1 7 .4

-6 .6

4-82

-2 1 .1

1 -8 3

-1 4 .3

467 . 5
44 8.¿

-1 5 .2

408

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

-9 .4

42 7. 1

19.1

486.9

2-8 3

-4 .0

3 .9

4.1

11 .5

41 .9

68.9

3-83

0.8

8 .5

9.7

17.0

39 .5

51.0

3 5 .0

4-83

5.6

13.3

15 .1

22 .3

41.2

4 9 .4

4 0 .5

46 3

524 . 8
57 7. 2
649.3

1 -8 4

10 .6

18.3

20.6

28.0

44 .8

52.0

46.8

5Í 1

60.1

2-84

9.5

16 .1

17.9

23 .6

36.2

39.9

}}.4

9

26 .7

0.2

3-84

9.2

15.0

16 .5

21.2

3 1 .4

3 3 .5

27.4

25 6

19.3

3.0

1

6 4 9. 1
6 5 8 .9

5.8

¿49.9

4-8 4

7.9

13.0

14.1

17.9

26.1

z i.

2 1 .2

18 7

12 .6

0.1

0.1

1 -8 5

6.6

11 .2

1 2 .0

15 .1

21 .9

22 .2

16 .7

13

8.4

-1 .7

-2 .4

2-85

7 .0

11 . 2

11.9

14 . 8

20 .8

21.0

1 6 .0

13 6

8 .9

0.8

0 .9

-0 .7

1.8

i-8 $

6.Ô

9.8

IÖ .3

1 2 .é

18.0

17 .8

13" T

10 é

6*4

—0 . 6

-0 .7

-2 .3

-1 .2

i

-> .0

4-85

6 .0

9.5

10 .0

12 . 3

16.9

16 .7

12 .5

16

0.3

6.4

0.7

0.5

3 .1

-0 .7

6 .0

1-86

6.8

10.2

10.7

12.8

1 7 .2

17 .0

1 3 .2

2 .6

3.0

2.5

4 .2

7 .2

5.8

12 .9

2-8 6

5 .7

8.8

9 .2

11 .1

14.9

1 4 .6

1 0 .9

Ò

5.8

1 .0

1.1

0 .5

1.4

3 .3

i.4

4.4

3 . 6 —1 0 . 8

3 -8 6

4 .8

7 .7

8 .0

9 .6

1 3 .1

12 .7

9.2

3

4.3

—0 . I

-0 .1

-o .é

-0 .2

1.0

-0 .9

Ò .7

-1 .0 -1 0 .2

—9*6

W L

l-ffl

i- n .

_ír.fi3

1 -8 6

2-86

-IzftL .

-L-U




? - 9 ¿ - 4-8 2

.

i- n .

6.4
7. è

ll

-4 .4

6.2

—

-

-7 .Ó

63 a . 2
655.6

11.4

__4zü_

¿43.8
¿53.2
¿84.0

20.2

664 . 7
6 4 8.1

I N I T I A L QUARTER

RESERVE
m

16

m

i v

m

*

BANK OF

ST.

LOUIS

C O V E « MUE NT P U R Q 4 A S E S

OF fcQOPS

C O M P O U HOED A N N U A L

AM) S E K V IC E S

m

C m tF M T

D O LLA RS

RATES OF CHANGE

- f e l l U Q» * OF

INITIAL QUARTE»

TERMINAL

DOLLARS

_OUAKTFB
4-81

1-82

2— 82

3-82

5.9

4-8 2

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

2-86
622.1

~

S H .l

7.4

8.2

14.4

9.5

10.8

15.3

7.4

"T X T 7 1 ’
"

16.2
6.6

¿7 1 . f t

¿¿«.I

-2.2

675.2
480.7

7.9
5 .2
4.9

“5 5 1
77“

0.3

-2* 7
3.7

10 .5

“ 876

10.4

17.6

25 .2

9 .3

1 3 .6

1 5 .1

7.4

7.4

¿93.2
73 3.3

743-*

5 .9

9 .6
1- 8 5

"777

2- 8 5

872

8 .0

87s

776
870

677
772

779
a ll

874
878

3-85

T T ó ------- T n --------&.4~' ' ft.a------- 971--------9 . 4

4-85

"574--------9 . 9
T75

STI
8«

1 2 .9

1 3 .7

TTTi

1 2 .1

871

976

1-8 2

¿-&2

3-82

4-82

1 -8 3

T75

777.3
7 W .0

11 .8

12 .0

1 0 .0

975

1 2 .7

1Ô.4— 1 1 . 5

11 .7

1 0 .Y

12 .5

12.8

10.8

11.*

Ì7ò

979
9.9

979

778

872"

U .i 13.7 14.7 13.1
775----77*----575----ITT-

~TTT

871- 57?- T7T- 573“
-

8.9

TÔ7T

10 .1

6 .4

8 .9

1 0 .0

9 .9

2 -8 3

3-83

4-83

1-84

970

972

1 0 . A— 12 .4

8.4

4 -e i

7 6 3 .;

8 * 4 1 1 .0

9^3

8.3

¿-34

3-84

1 1 .6

02 9: 7

1 3 .9 — I T 7 T "

S55V6'
836.7

^ Î 7 Î ----------------1.2

860.8

i2 .a

“7 55 775----579“
84 7“

"T 7 5 — 1ÏÏ72--------*75“

4-84

4-8 5

1- 8 5

2-85

3-8 5

1-86

878.5

2 -8 6

1HI T I A L Q U A R T E R

mrmv

r e s e r v e b a n k _ o f, s * . l q u i s _

NOVEMBER 19«

1986

GOVERNMENT PURCHASES OF GQQQS AMD SERVICES 1H 1982 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
B I L L IO N S OF
OOLLARS
ANNUAL RATES

I N I T I A L QUARTER
QUARTER
4 -6 1

1- 8 2

2 -8 2

3 -8 2

4-82

1-8 3

2 -8 3

3-83

4-83

1 -8 4

2- 8 4

3 -8 4

4-84

1 -8 5

2-8 5

3-85

4-8 5

1 -8 6

2 -8 6
634.6

1-82

-0 .8

2 -8 2

-1 .9

-3 .1

62 9.7
6 4 2 .5

3 -8 2

1.4

2 .5

6.4

4-82

3.8

5.4

9.9

11 .4

1 -8 3

1 .7

2.3

4.2

2.1

44Ô.1
-6 .4

444.2
65Ó . 9

2-63

1.6

2 .0

3.4

1 .7

-2 .8

3 -8 3

1.6

2.0

3.0

1 .7

—1.3

1.4

1.7

4 -8 3

0.5

0.7

1.3

0.0

-2 .7

-1 .4

-2 .7

-6 .8

1-8 4

1.0

1.2

1. 8

0.8

-1 .2

-0 .1

-1 .0

5 .1

5 .0

11 .5

18 .4

3.7

4.2

8 .1

9.7

1 .7

4 .1

4 .6

7.7

8.6

4 .0

6 .3

4 .2

6.6

6 .9

3.4

4.2

2.2

4.7

6.7

7.1

4 -4

5.4

4 .9

7.7

5 .6

7.7

8.2

6.3

7*5

7*0

10*8

13.9

1.1

2 -8 4

2.6

3.0

3.8

3.1

3.6

3-84

2.5

2 .9

3.5

3.0

3.2

4-84

2.8

3.2

3.8

3.3

1 -8 5

2.8

3.1

3.7

3.2

2-85

3 .1

3.4

4 .0

3.6

3-85

3.8

4.2

4 .7

4.4

4-85

4.2

4 .5

5.1

1 -8 6

3.1

3.4

3.8

2-86

3.5

3*é

4.2

3 .9

3—86

3.7

4 .0

1 -8 2

4 .4

l-M




3.7
2.3

3.5
3.9

4.3

45 3.4
4 4 2. 2
6 5 0 .2
678 . 2
6 8 1 .0
691 . 5
6 9 5 .3
TÜ 8 .3
7 3 1 . fa

3.8

4 .9

4.6

4.3

5.4

6.3

8.0

6.5

6.5“

é*ó

6.4

10*5

11.9

3.5

2 .9

3. à

4.2

5.4

* .4

3 .4

4 .3

3-9

4*i

3.2

4.2

4.7

6.0

6 .1

4 .6

5 .0

4.0

4.4

4*8

1.9

-1 .9

5.2

ü.7

5.4

3.3

1.2

V -8 5

2-8 5

3-8 5

4-8 5

4 .*

- iMfc*.

4.4

1 -9 ?

"477

5.0

4 .1

6 .2

4.^

,± :& à

1-84

i-9 1 -

£ .4

t-W

10*0

7 4 9 .4

— 1*8 ■=12.3

725.2
9.7

'742.7

8* 7 — 7 . A

756.0

1-8 6

2-86

I N I T I A L QUARTER

AL RE S E R V E BANK OF ST. LOUIS
a

17

s

m

t i / m

i

DISPOSABLE PERSONAL ririTHMF YM riiftftFMT DOLLARS
COMPOUNOEO ANNUAL RATES OF CHANCE
TERMINAL
— QUARTER
4-81
1-82

B I L L IO N S OF
OOLLARS
ANNUAL RATES

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

2- 0 2

3-02

4-8 2

1-8 3

2- 8 3

3 -8 3

4 -8 3

3.7

1- 8 4

2-84

3-8 4

4-84

1- 8 5

2-05

3-05

4-0 5

1 -0 6

2-06

2 »207.2

2-8 2

5.1

6 .4

3 -8 2

5.6

6.6

4-82

6.0

6.8

6.9

7. 1

I —83

5 .8

6.3

6.2

6.0

2 -8 3

6.3

6.8

6 .9

6.9

6 .8

8 .7

3 -8 3

6.5

7.0

7. 1

7.2

7 .3

8.5

8 .2

4 -8 3

7. 5

8.1

0 .3

8.7

9.1

10 .5

11.4

1 4 .6

1-8 4

8.2

8.0

9.1

9 .6

1 0 .0

11.4

12.3

14 .4

14.1

2 -8 4

7.9

0.4

0.6

8.9

9.2

10.1

10.5

11 .2

9.6

5.2

3-84

7.9

0.3

0.5

8.7

9.0

9. 7

9.8

10 .3

8. 8

6.3

4-84

7 .7

0 .0

2»2 4 l.*
2.2 7 0 .6

6.7

0 .2

¿ »M ft.l
¿ »H 5 .7

4 .8

8.4

8.5

2* 39 5 .4

9.0

9 .1

2»443.2
2»527.9
2ȣT2 .7

9.3

8.0

6 .0

2 »646.3
2,i? 3 .fl

7 .4
6.4

¿»7F 4.4

5.4

1- 8 5

7.4

7.7

7.0

7.9

8.0

8 ♦^

8.3

8.3

7.1

5.5

5.5

4 .6

3.8

2-85

7.0

0.1

0.2

8.4

8.5

8.9

8.9

9.0

8*1

7.0

7.4

7.4

8.4

1 3 .2

2*t55.4

3-85

7. 1

7.4

7.5

7.5

7.6

7.8

7.7

7 .J

6 .7

5.5

5.6

5.1

5 .0

5.6

-1 .4

4-85

7.1

7.4

7.4

7.5

7.5

7.8

7. 7

7.6

6.6

5.8

5.9

5.6

5.6

6.2

2.8

7.3
7 .4

2 »0 4 2 . 3
2 »¿32.0
2»882.2
2* 935.1

7.5 "

1- 8 6

7.2

7.4

7. 5

7.5

7.5

7. 8

7. 7

7 .6

6.9

6 .0

6.1

5.9

6 .0

6.5

4.4

2-86

7.1

7.3

7 .4

7.4

7.4

7. 6

7.5

7.5

6.8

6.0

6.1

5.9

6.0

6.4

4.0 " " T . T T

6 .0

6 .0

3-86

67s

679

679

775

775

771

77o

6*9

672

5.4

575

572

571

574

575

5.3

577

373

57?

4-8 1

1-92

2-62

3-8 2

4-8 2

1- 8 3

¿-93

3-83

4-8 3

1“ 84

2-8 4

3-04

4-84

1-85

2 - 83

3-8 5

4-85

1-86

2-86

____

2* 97 8 .5
¿ «982.7

________________ I N I T I A L QUARTER______________________________________________________________

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 19» 1986

rt
©
1

___________________ ________________________________________ DISPOSABLE PERSONAL INCOME IN 1982 DOLLARS__________________________________________________________
COMPOUNDED ANNUAL RATES OF CHANGE
________________________________________________________________________________________________________________ _______________________________________________ BI LL IO N S OF
TERMINAL
I N I T I A L QUARTER
DOLLARS
QHARTFR_______________________________________________________________________________________________________________________________
ANNUAL RATES
2-0 6
1- 0 6
4-05
3-05
2 -8 5
1-8 5
3-04
2 -8 3
4-84
3-83
1-82
2 -8 2
1 -8 4
2-84
3-82
4-8 2
1- 8 3
4-81
1- 8 2

2 *245.7

-1 .4

2 * 26 0 .4

2-82

2.7

3-82

I .6

0.4

4-82

1 .8

1 .3

1-83

I .9

1.6

2 »2 6 3 . 4
2 » ¿ 7 6. 1

2.3

2*2 80 .4

2.2

2 *3 n . i
.

2-83

1.7

2 .3

2.2

3.1

4.0

3-83

2. 1

2.6

2.6

3.2

3.5

4. 1

4.3

3.7

3.8

4.5

5.1

6.1

7 .2

6.9

7.9

6.0

6.5

2.2

5.9

6.3

2.9

3 .6

5.4

4.2

2 .5

2.7

1.0

4.5

3.4

2.0

1.9

1. 1

0.4

4 .4

3.4

3.7

3.7

4.7

4-83
1-8 4

3.7

4.4

4.6

5.3

2-84

3.6

4.1

4.3

4 .9

3-84

3.6

4-84

3 .4

4.1

4 .2

4.7
4.4

3 .9

4 .0

3.6

1 -8 5

3.7

5.3
5.1

5.6

4.7

5.0

4 .2

4.4

4.5

4 .7

4.9

2»335.*
2 » 3 9 2. 7

10 .2

2 * 4 U .4

9.4

5 .1

2 »460.3
2 »481.9
2 »4 9 3 .1
¿»445.7
¿»550.8

9.1

2-85

3.6

4.0

4.1

3-85

3.1

3 .4

3 .5

3.7

3.0

4.6

3 .T“

2.1

2.1

l.7 ~

2.3

—4*6

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

3.5

3.6

3.8

3.9

4.1

4 .1

4.1

3. 4

2 .7

2 .0

2.6

2.8

3.4

1.6

4*5

6*5

4.3

4.3

4.4

3.8

3.2

3.3

3.3

3.5

4*1

2.9

5*4

6*0

t.l

3.2

2 .6

2 .7

2 .6

2 .7

3.0

1.9

3.4

3.7

2.3

-2 .3

4 -0 3

1-0 4

2-0 4

3-0 4

4-04

i-8 5

2-05

3-0 5

4-8 5

1 -0 6

2-0 6

4-05

4.4

1-06

3.2

2-06

3.5

3.7

3.8

4.0

3-0 6

3.1

3.4

3.4

3.6

3 .7

3.8

4-0 1

1-0 2

2-8 2

3-02

4-02

1-83




2-03

3 -8 3

2 »524.7
2 » 5 4 d . iJ
2 »5 0 1 . 2
2 »625.7
2 »610.3

I N I T I A L QUARTER

PREP A R E D BY FEDE R A L RESERVE BANK. OF S T . LOUIS
N O V EMBER 19» 1986

18

C O * P O*ATE PÄOfITS AFTER TAXES«
------------------------------------------------------- ------------------------------------------------------- r r m » « * D F n

âMMIlâi

RATES OF CHAMfcF___________________ ______________________________________________

.

B IL L IO N S OF
J E ANIM
AI----------------------- -------------------- --------------------------------- INITIAL Û1U1TE1____________________________ _______________________DOLLARS
QUARTER
ANNUAL RATES
----------------- — L=A2— 2=û2_______ a -a ?
k -*?
i-b i
2 -a *
4- * 3
î-a *
? - a v 3 - a 4 4 -a 4 _ l - a s
_
2- a s 3 -8 5 4 - 85 1 -8 * 2 -8 6 ______________
1—82

- M i . 2__________________ ___________________________ _______________ _________________________ _______________________________________________________________ 107*5
1 0 7 .0

2-82

- 4 2 .4

- 1 .8

3-82

- 3 0 .5

- 0 .4

1 .1

4-82

- 2 6 .0

- 3 .9

—5 . 0

1 0 7 .3
1 0 4 .3

- 1 0 .7

1 1 0 .6

In ?

4 .5

6 .2

2 6 .4

2-83

- 6 .9

1 4 .0

1 8 .3

2 4 .7

4 7 .3

7 1 .7

3-83

0 .0

1 9 .8

2 4 .7

3 1 .4

4 9 .5

6 2 .5

4-83

0 *8

1 7 .9

2 1 .6

2 6 .1

3 7 .5

4 1 .4

2 8 .3

7 .0

1-84

1 .7

1 6 .7

1 9 .6

2 3 .0

3 1 .2

3 2 .4

2 1 .4

7 .8

8 .6

2-84

1 *1

1 4 .2

1 6 .3

1 8 .7

2 4 .4

2 4 .1

1 4 .4

3 .6

2 .0

3-84

—1 * 4

1 1 .2

1 2 .5

1 6 .3

1 4 .7

5 .8

- 3 .7

1 2 6 .6
1 4 1 .0

5 3 .9

1

1 4 3 .4

•
o

1 - » J . - 1 7 * 1 ..

1 4 6 .4
1 4 4 .8

- 4 .3
- 1 4 .0

1 3 5 .8

- 2 2 .6

4-84

- 1 .7

8 .4

9 .5

1 0 .4

1 3 .4

1 1 .6

3 .9

- 3 .9

- 6 .5

-U .o

- 1 4 .2 _

1-85

- 3 .4

5 .4

6 .1

6 .6

8 .8

6 .7

- 0 .3

- 7 .2

- 9 .8

- 1 3 .9

- 1 6 .9

- 1 3 .9

- 2 2 .1

2-85

- 3 .0

5 .2

5 .8

6 .2

8 .1

6 .2

0 .0

- 5 .9

- 7 .9

- 1 0 .9

- 1 2 .5

—8 . 8

- 1 0 .7

1 2 6 .0
1 2 6 .7

2 .2

1 3 3 .4

- 2 .7

- 6 .0

—6 . 3

- 1 .8

—0 . 7

1 2 .1

2 2 .9

3 .9

- 0 .5

- 1 .4

- 2 .8

- 2 .5

2 .1

4 .0

1 4 .4

2 1 .1

1 9 .2

8 .3

6 .9

2 .4

- 1 .7

- 2 .6

- 3 .9

- 3 .8

- 0 .3

0 .7

7 .3

9 .0

2 .7

- 1 1 .5

7 .0

2 .9

- 0 .8

—1 .5

- 2 .6

- 2 .4

0 .9

1 .9

7 .5

8 .9

4 .6

- 2 .0

8 .5

7 .8

4 .0

0 .7

0 .2

- 0 .7

- 0 .2

3 .0

4 .2

9 .3

1 0 .8

7 .9

4 .4

1 3 .4

1 8 .6

2-83

3-83

4-83

1-84

2-84

3-84

4-84

1-85

2-85

3-85

4-85

1-86

2-86

7 .0

7 .5

7 .9

0»
•

2 .4

8 .8

6 .4
7 .2

1-86

—1 * 0

5 .9

6 .4

6 .8

2-86

-0 *5

6 .1

6 .6

6 .9

8 .3

0 *4

6 .7

7 .2

7 .6

9 .0

4-81

1-82

2-82

3-82

4-82

1-83

O
•

7 .«

- 1 .5
— .3
0

T

9 .4
1 0 .2

3-85
4-85

3-86

1 3 4 .1

- 4 .9

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

I N I T I A L QUARTER
» NATIONAL INCOME BASIS________ ______________________________________________________________________________ _______________________________ _______________________
P - PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS

________________________________________________________________ _______________________________________fWTSftttft I9 t i m ___________________________________

H IS T O R IC A L

N A TIO N A L

E s tim a te s
o f

N IP A

C u rre n t

ta b le s

B u s in e s s ♦

p u b lis h e d
S t a t e s ,

U .S .




in

Th e

and

AND

s e r ie s
a re

E s tim a te s

in

PRODUCT

th e

f o r

In c o m e

N IP A
and

W e a lth
o f

OF

ACCOUN TS

r e g u la r

p u b lis h e d

in

s e rie s

and

J u l y

f o r

p r e s e n t a tio n

1986

1 9 2 9 -8 2

A c c o u n ts

o f

S u rv e y

D iv is io n

p r ic e s ,

(B E -5 4 ),

C o m m e rce ,

W a s h in g to n ,

19

w r it e

B u re a u

o f

D .C .

to

th e

E c o n o m ic
2 0 2 3 0 .

o f

a re
th e

U n ite d

T a b le s .

in f o rm a tio n

D ATA

q u a r t e r ly

th e

P ro d u c t

S t a t i s t i c a l

f u r t h e r

D e p a rtm e n t

th e

1 9 8 3 -8 5

N a tio n a l

1 9 2 9 -8 2 ?

F o r
In c o m e

f o r
f o r

IN C O M E

SOURCES

N a t io n a l
A n a ly s is ,

IN V EN TO R IES

COMPARED W I T H

M O N TH L Y

SALES*

MANUFACTURING AND TRADE
1 .6 8

68

1.64

64

1.60

60

1.56

56

1.52

52

1.48

48

1.44

44

1.40

40

1.36

36

1.33

1.32
1.28

32
28
24

1.24
1972 1973 1974 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986
«RATI OS BASED ON SEASONALLY ADJUSTED DATA.
SOURCE: U.S.DEPARTMENT OF COMMERCE
SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS.
LATEST DATA PLOTTEDt SEPTEMBER PRELIMINARY



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

20

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