Full text of National Economic Trends : October 1971
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n f m o iM L Economic m c n o s
PREPARED
MONTH ENDING: September 30,
BY
1971
FEDERAL
RESERVE
BANK
OF
ST. LOUIS
RELEASED: October 27,
Total spending advanced at a 6.2 per cent annual
rate from the second quarter of 1971 to the third quarter.
The increase was divided almost equally between real p r o d
uct and prices; real product rose at a 2 . 8 per cent rate
and prices at a 3.2 per cent rate. The third quarter ad
vance in total spending was not as rapid as the gains in
the first half of the year, due, in part, to (1 ) the adminis
tration's wage-price freeze; (2 ) a net export deficit; and
(3) the liquidation of steel inventories stockpiled earlier
in the year in anticipation of a strike. Total spending
rose 7.7 per cent from the third quarter of 1970 to the
third quarter of this year, compared with a 4.6 per cent
increase in the preceding year.
Such cyclically sensitive components of GNP as p e r
sonal consumption expenditures on durable goods, h o u sing in
vestment, and investment in producers' durable equipment and
structures, have increased more rapidly over the past year
than the previous year.
In the year ending third quarter
1971, consumer durable goods expenditures rose 15.8 per cent
after increasing 1.1 per cent the preceding year. Housing
investment increased about 45 per cent from the third quarter
of last year to the third quarter of 1971, compared with a
6.5 per cent decrease the preceding year.
Investment in
structures and p r o d u c e r s ’ durable equipment increased 4.7
per cent in the most recent year, after rising 4.1 p e r cent
in the year ending third quarter 1970.
Industrial production and employment increased
slightly in the first nine months of 1971.
Industrial p r o
duction rose at a 0.9 per cent annual rate from December
1970 to September 1971, and payroll employment increased
at a 1 p e r cent rate over the same period. Both i n d u s
trial production and payroll employment declined in the
year ending December 1970.
Overall prices rose at a 4.2 per cent rate from
late 1970 to the third quarter of 1971, compared with a
5.7 per cent increase in the preceding year. Consumer
prices rose at a 3.7 per cent annual rate from December
1970 to September, after increasing 5.5 pe r cent in the
preceding year.
1971
2
TOTAL
COMPOUNDED
C I V I L I A N E M P L O Y M F NT
A N N U A L R A T E S OF C H A N G E
2-70
3-70
4-70
5-70
6-70
7-70
10-70
11-70 12-70
Z±9
...4-70
. Q.S
-1,3
5-70
-0.9
-2.8
-4^3
6-71
7-7*
-4.4
-4.5
-1.6
-0.2
4. 3
8-70
-0.7
-1.4
- U 4
-0.5
..Kt.
-l.C.
9-70
-0.7
-1.2
-1.2
-0.5
0.9
-C.7
79,574
78,508
78,479
-0.4
1.5
78,691
-Oj, 2
-0.6
^,5
11-70
-0.4
-0.8
-0.7
-0.1
C.8
-C. 1
0.2
Û.5
-2.1
J2-7Q
-0.5
-0.9
-0.8
-0.3
0.4
-C .3
-0.2
-0.1
-1.7
-1.3
1-7 1
0.1
-0.2
-0,0
0.5
1.2
0.7
1.1
1.5
C.9
?. 4
6.3
2-71
-0.3
~0.b
-_ûi 5
-0.1
0.5
-0.1
C. 1
0. 2
-0.6
-0.1
0.6
-Q.AÉL
- Q iÎl
-0.2
0.3
3.3
-0.2
-0.1
-o.c
78,550
-0.7
7 8 t_463
-0. 3
78,864
78,537
-4.9
-2.9
0.1
78,475
-0.9
*t~n
-0.1
“0 . 3
-0.2
0.1
0.6
0.2
0.5
0.0
0. 5
0.9
-0.8
1.2
3.5
5-71
0.2
-0.0
Ü. 1
0.5
0.9
0.6
Q.8
0.9
0.6
_ 1..Û
1.5
. Q-.4
2.2
3.8
4.1
6-71
-0.3
-0.5
-0.5
-û.2
0.2
-0.2
-0.1
-0.1
-0.5
-0.2
-0. 1
-1.3
-0.4
-0.2
-1.9
-7.6
_ T-II
0.1
.. - Q *J)
. 01,1
_ ü *Jt.
0,9
0.5
0.6
0.7
C.4
0.7
1.0
0.2
1.2
1.8
1.2
-0.2
7.9
.8-71
0.4
0.2
0,3
l.C.
0.7
C.9
l.C
. .0.8
1,1
1.4
Q.7
1.7
2.2
1 ,9
1.2
5.9
4.0
9-71
. û*6_
±*Z ___ l_t.3. .. 1 . 2
1.5
1.8
1.3
2.2
2*1
2.5
2.2
5.6
4.5 .
9— 7 C 1 0 - 7 0
11-70
12-70
1-71
? — 71
3-71
4-71
5-71
6-71
2-70
0.6
___1 . 0 _
3-70
4-70
5-70
6-70
7-70
8-70
PAYROLL EMPLOYMENT
C O M P O U N D E D A N N U A L R A T E S OF
INITIAL
TERMINAL
MONTH
3-70
4-70
5-70
6-70
7-70
S - 70
9-7 0 10-70
78,698
78,961
78,443
78,941
7-71
79,197
79,52^
*.1
P-71
1M O N T H
INITIAL
P R E P A P F O RY
O C T O B E R 12,
FEDFRAL
1971
3-71
5-71
RESERVE
BANK
OF
LOUIS
CHANGE
THOUSANDS
OF P E R S O N S
MONTH
11-70
ST.
1-71
12-70
2-71
4-71
6-71
7-71
8-71
_2«_7_
!*•
1
O
71,147
3-70
0.6
-1.4
5-70
-l.l
-2.9
-4.4
6-70
-1.5
-2.9
-3.6
1
o
2-70
8-71
78,299
-3.4
-1.5
— 0 «4
5-71
78,601
-0.6
3-71
2-71
4-71
_____ 7 8 , 8 8 6
7-70
_LGr7_L
1-71
3-71
78,969
3-70
„ 6 - 7 . 0 _... - u * .
8-70
9-70
THOUSANDS
O F PfrR S O N S
1* O N T H
INITIAL
TERMINAL
MONTH
-hï
-2.3
.6
71,063
70,796
7 0 , 6 34
\
-1.6
-0.5
70,605
70,445
8-70
-1.5
-2.4
-2.6
-2,0
-1.6
-2.7
9-70
“1 . 2
-1.9
-2.0
-1.3
-0.9
-1. i
10-70
-1.9
-2.6
-2.1
-2.4
-2.3
-2.9
-3.1
-6.6
11.-10
_ -\.9
-?.4
-2.6
“2 . 3
-2.2
-2.6
-2.6
-4.1
-1.6
12-70
-1.1
-ltb
-1.6
-1.2
-0.9
“1 . 0
-0.6
-0.9
2.0
5.8
1-71
-0.8
“1. 2
-1.1
-0.7
-0.4
— 0 »4
0.0
-0. 1
2.1
4. 1
2.4
70,480
0.6
70,082
\
-
0
.
3
%
6 9 t985
70,313
70,454
70,391
__2-71
-0.9
li » 2
“1. 1
-0,8
-0,5
-0.5
-0.2
-0 «3
1 .3
2.3
0.7
■
-l.l
3-71
-0,7
- 0 «9
-0.9
- 0^
-0.3
-0.3
0.1
O.C
1.4
2. 1
l.C
0.2
C .3
0.3
1.2
0.8
1.8
2.0
1 ^ 6 ___ 1 . 3
2,2
2,5
2 , 9 ^ ^ \
0.7
l.l
1.0
0.5
4-71
-0.5
-0,7
-0.7
-0*3
5-11
-0.2
-0.5
-0.4
-0.0
6-71
-0.3
-0.6
-0.5
-0.2
7-71
-0.5
-0.7
M l
-0.4
-0.6
9-71
-0.1
-0. 3
2-70
3-70
-0.6
-0.1
0.0
-0.0
0.3
Q.-6 . JJ j J l -
0,l_
0.4
-0.3
-0.1
~Qt î
-0,3
-0.1
-0.1
-0.2
0.1
0.3
4-70
5-70
6-70
0. 3
7-70
C, 3
1.5
2. 1
1,7
_2*1
1.2
1.7
1.0
70,480
70,599
70,769
-1.9
70,657
-2.0
-2.1
70,531
„ - Q jl L.. - 1 , 2
-0.9
0.4
0.1
C.9
1.2
0.5
0.2
0.5
0.2
Q.l
..0.8
1.1
0.5
Qi £
0.5 _
0,3
0.5
0.5
1.2
1.5
1.0
0.9
l.l
1. 1
0.9
0.4
l.i
2.8
5. ?
8-70
9-70
10-70
1 1-70
12-70
1-71
2-71
3-7!
4-71
5-71
6-71
7-71
8-71
Ot i
INITIAL
-0.4
Xr
70,554
70^855
MONTH
PREPARED BY FEDERAL RESFRVE BANK OF S T . LOUIS
OCTOBER 1 2 , 19 71
3
E MP L OYME NT
RATIO
RATIO
SCALE
MILLIONS
OF
PERSONS
MILLIONS
SEASONALLY ADJUSTED
OF
SCALE
PERSONS
90
80
70
60
50
SOURCE«
PER CENT A GES ARE ANNUAL RAT E S OF CHANGE FOR P E R I O D S
LA TES T DATA PLOTTE D:
U.S.DEPARTMENT
OF LABOR
INDICATED.
S EP T E MBER P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST.
L OU I S
4
I NDUSTRI AL PRODUCTION
COMPOUNDED ANNUAL RATES OF CHANGE
o
»
o
TERMINAL__________________________________________________________________ I N I T I A L MONTH____________________________________________________________________1967 * 100
MONTH
6-71
7- 7 1
8- 71
3- 71
4-71
5- 71
1- 71
2- 7 1
11- 70 12- 70
8- 70
9-70
4-70
6- 7 0
7-70
3- 70
2- 70
5- 70
-4.4
107. 6
107. 5
*
i
•'j
o
-2 .7
-1.1
5 - 70
-1.8
-0.6
0.0
6 - 70
-1.1
0.0
0.6
1. 1
7- 7 0
-1.1
-0.3
0.0
0.0
-1.1'
8- 70
-0.9
-0,2
0.0
0.0
-0.6
9- 7 0
-2.4
-2.0
-2.2
-2.8
-4.0
10- 70
-5.9
-6.1
-6.9
-8.3 -10.5 -13.4 -19.4 -27.4
107. 5
107. 6
107. 5
1 0 7. 5
0.0
106. 5
-5 .5 -10.6
103. 7
11- 70
-6.6
-6.9
-7.7
-8.9 -10.8 -13.1 -17.0 -20. 1 -12.0
12- 70
-3.8
-3.7
-4.0
-4.6
1-71
-2.7
-2.6
-2.7
-3.1
2 - 71
-2.1
-1.9
-2.0
-2.2
3- 71
-2.1
-2.0
-2.0
-2.2
4 - 71
-1,4
-1.2
-1.2
-1.3
10 2. 6
10 4. 6
-6.4
-7,9
-6.9
5. 3
26. 1
-3.6
-4.1
-4.8
-3.3
6.3
16. 9
8. 3
-2.6
-2.9
-3.3
-1.8
5.9
12, 6
6. 5
-2.6
-2.8
-3.2
-1.9
4. 2
8. 7
3. 5
1. 1
-2.2
-1.6
-1.6
-1*8
-0.5
4.9
8.6
4.7
3.5
2.9
-5.5
105. 3
1 05. 7
4.7
105. 5
S
^ V
. 7
/o
106. 2
8.3
9.4
107. 0
-0.7
-0.5
-0.4
-0.5
-0.6
-0.6
-0.6
0.7
5. 5
8. 8
5.6
4.9
5.0
8.8
-0.6
- 0 •3
-0.2
-0.3
-0.4
-0.3
-0.3
0.9
5. 1
7. 8
5.0
4.4
4.3
6.6
5.8
2. 3
7- 71
-1.2
-1.0
-1.0
-l.tl
-1.3
-1.3
-1.4
-0.5
3.1
5.2
2.5
1. 5
0.9
1.7
-0.4
-4.9
107. 2
106. 1
-11.6
8-71
-2.0
-1.8
-1.9
-2.0
-2.2
-2.3
-2.5
-1.7
1,3
2.9
0.3
-0.8
-1.7
-1.6
-3.9
-8.0 -12.7 -13.8
9- 71
-1.6
-1.4
-1.4
-1.5
-1.7
-1.8
-1.9
-1.1
1. 7
3. 2
0.9
0.0
-0.6
-0.4
-2.0
-4.7
-6.9
-4.4
2-70
3-70
4-70
5- 7 0
6-70
7-70
8-70
9- 7 0 10- 70 11- 70 12- 70
1- 71
2- 7 1
3- 71
4-71
5- 71
6- 71
i
5- 71
6- 71
1 0 4 . 8P
\
5.9
1
1 0 5 . 3P
03
1
-J
3-70
I N I T I A L MONTH
P - PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF S T . LOUI S
OCTOBER 18, 1971
5
INDUSTRIAL
RATIO
PRODUCTION
RATIO
SCALE
SEASONALLY
1967-100
130
SCALE
1967-100
130
AD J US TE D
1 20
1 20
1 10
*5. 6X/
/
'
■
n
V
. -
*0 9X
1 10
105.3
0 0
0 0
.
/ f ^ - 2 rx
A
90
90
+8. 62
y/
80
80
JAM. '6 J
70 \
1963
t
1964
1965
1966
$
f
1967
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTED«
?
i
1
?
g
t
$
1968
1969
1970
£
a
t
1971
I N D I C AT E D .
SEPTEMBER P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST.
LOUIS
70
6
PETAIL
A NN U AL
C OMPOUNDED
OF
CHANGE
MONTH_____________________________________________________________________________________ M I L L I O N S
T ^ M | K | t | ______________________________________________________________________________________ I N I T I A L
M n \jr <-l
OF
DOLLARS
1-70
?-7"»
SALES
R AT E S
3-70
?-70
4-70
5-70
6-70
7-70
8-70
9-70
10-70
11-70
12-70
2-71
.1-71
3-71
4-71
5-71
6-71
7-71
29.980
H.O
l-T-j
4.8
-ft.9
4-70
11.7
11.7
34.0
*>•— 7 r>
9.*
7. 1
15.0
-1.3
6-7 C
7.9
5.?
1 0.0
-0.4
0.6
7-7 ^
9.0...
6.1
9.6
2.6
4.5
8 . ft
2.4
3.7
5.3
7.1
5.4
f
29,801
30,536
8 .1
30,502
•
30,518
30,729
,
o
30,781
\
30,885
0-70
^•7
5.2
7.4
?.8
3.8
4.9
3. 1
10-70
4.4
2.*
4.3
-C.0 .
0.3
0.2
-2.5
-4.7 -
30,534
11-70
?.ft
i.a.
2.1
-1.8
-1.9
-2.4
-5.0
- 7 . 2 - 1 2 . 5 -. i 2 . r S s - \ + 8 . 8 %
30,208
12-7^
3.4
2.0
3.1
-0.3
-0.1
-0.2
-1.9
-2.9
-5.1
30,481
1-7 1
5.4
4. 3
5.5
2.7
3. 2
3. A
2.3
2.9
7 -7 1
ft.3
5.4
6.6
4.2
5.4
4.0
5.4
-1.0
11.4
2.6
8.4
20.3
30.0
5.6
10.8
19.7
24.1
31,154
31,597
18.5
7.9
7.0
A. 3
6.2
7.C
7.7
7.A
9.4
9.1
14.2
21.9
25.6
23.4
A . ft
a.i
9.4
7 « ft
8.4
9.2
9.3
10.2
11.1
15.7
22.2
25.1
23.5
*>-71
7.3
7.2
8.3
6.5
7.2
7.8.
7.7
8.4
8.9
12.4
17.1
18.3
15.6
14.6
8.2
-5.4 _
ft-71
(3.a
S.?
‘
9.3
7.7
8.5
9.1
9.2
9.<3
10.6
13.9
18.2
19.4
17.4
17.2
13.A
8.8
2*.2
7 -71
7.7
7.1
8.0
ft. *5
7.1
7.A
7.5
3.C
8.4
11.0
14.3
1 4 . 8 __ 1 2 . 4
11.2
7.3
2.3
6.3
8 -71
«.4
7. fi
8.8
7.4
‘
1.0
8.5
8.5
o. 1
9.5
12.1
15.1
15.6
13.7
12.9
10.0
A.8
11.3
4.9
21.8
1-70
2-7*
3-70
4-7*
5-70
6-70
7-70
0-70
10-70
11-70
12-70
1-71
2-71
3-71
4-71
5-71
A - 71
7-71
3-70
INITIAL
28.6
32,267
3-71
4-71
X
32,844
32,692
33,310
3 3 , 029P
1
1
33.576E
ST.
LOUIS
MONTH
P - P°F LI MI N A R Y
E- UNOFFICIAL ESTIMATE
P R E P A R E D BY F E D E R A L . R E S E R V E
H C T O S e R 14, 1 9 7 1
BANK
OF
PERSONAL INCOME
C O M P O U N D E D A N N U A L R A T E S OF C H A N G F
INITIAL
TERMINAL
MHNTH
3-70
0.4
20.3
32.2
5-70
9*8
10.0
i-
4-70
5- ?:.>
A-70
7-70
H-70
10-70
11-70
12-7C
1-71
2-71
3-71
4-71
5-71
6-71 _ 7-71
8-71
eo a.o
802.0
-8 .4 ,
A-70
7.0
ft.?
- 4 . «1
7-7C
ft.4
6.2
-1.1
2.4
6.0
8-70
6.A
6.1
*.4
3 .5
5.«
5.7
9-7 0
7 .0
6.*
?.
1
4.9
6.'«
7.4
9.1
10-70
•s.a
5.3
1.4
3.%
4.6
4*2
3.*$
11-70
S .5
4.0
l.ft
4.3
3.9
3.4
12-75
«.4
1-71
2-71
9-70
789.4
3-70
i
■
>
2-70
B I L L I O N S OF
DOLLARS
ANNUAL RATES
MONTH
#i.3
*-71
801.4
-0.9
805.3
809.0
814.9
-
813.6
1.9
o.A
3. 1
815.7
4.4
3.4
4.1
4.9
4. ?
4.5
3.0
5.5
7.9
ft.2
3.6
»,.1
4.2
A. 2
A. 3
5.7
8.3
11.0
14.1
6. 1
3. H
4.9
6.0
A.ii
A.I
5.5
7.4
8.9
0.3
A.4
4*<i
4.7
A.4
A.5
A.A
A.2
7 .Q
9.1
0.4
ft» 4
4.i
6.*
A.4
A.A
A.3
7.7
8.7
B.H
7.L
A. %
A.9
A.O
6 .A
A.7
A.ft
A.5
7.9
fl.A
A.7
7.4
a. 3
7.A
«.3
7.8
8. A
8.8
9.1
9. 1
10. A
11.7
12.3
12 .0
13.9
15.3
19.7
32.4
ft. 1
A .6
6.7
A .8
A.A
7.5
8.1
8.1
7.2
7.7
7.1
7.?
6.7
-14.0
7.0
7.1
7.2
7. 1
H.O
B.A
8.7
7.9
9.4.
ft. 2
ft.5
a.5
-1 .7
1 2 .4
8.2
7.5
... 7 * 9
7.5
7.7
7.5
0*3
8.4
.4 *5
12-70
1-71
? —7 1
3-71
4-71
5-71
6-71
7-71
8-71
4-71
A. A
?-7!
A. 7
ft-71
fi .2
A .I
7-71
6.7
6.6
5. '
8-71
7.3
6 .9
5.*!
0-71
6.9
ft.«
5.4
6.4
ft.<J
6 .9
7.0
A .9
7.7
8.2
2-70
3-70
4-7:
5-71
ft -70
7-7' J
8-70
0-70
10-70
11-70
i
IN IT IA L
820.9
830.0
8*3.2
4.7
9.8
839.7
844.4
85 0.0
8 70.1
859.2
Aft 7 . ftp
8 7 0 . 8P
MONTH
o -'P Q F L IM INA^Y
PREPARFD BY PfcDFRAL RESF“ VE BANK OF S T . LOUIS
0CIQ M fLi.2f 1^71
7
RETAIL
SALES
RATI O SCALE
RATI O SCALE
9 Î L L IONS OF DOLLARS
B I L L I O N S OF DOLLARS
SEASONALLY ADJUSTED
45
45
40
40
*e.i
35
+2.3X
*12
30
35
/&Ò.6
30
+r.rz_
.
4z^
25
25
20
20
15
1963
fCT.‘A7Ai#.'$8
M
IS.*fiS
. J11
r~
1964
1965
1966
tiI
1967
t
1968
SOURCE«
P E R C E NT AG E S ARE ANNUAL RATES OF CHAN GE FOR PER IO DS
« L A T E S T DATA PLOTTED«
w.yo
__ 1
±
1969
..
1 97 0
1971
U.S. D E PA R T M E N T OF CO M ME RC E
INDICATED.
JULY P R E L I U IN A R Y , AUG US T UNO FF IC IA L E S T I MA TE {S AM PLE BEI NG REVISED ».
P RE PAR ED BY FE D ER AL RES ER VE SA NK OF S*. uOU »S
PERSONAL
RATI O SCALE
INCOME
RATI O S C A l E
MONTHLY TOTALS AT ANNUAL RATES
0.s
0 ,1
i. 7
0,5
1963
1964
1965
1966
1967
1968
1969
1970
1971
SOURCEt U .S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIOOS INDICATED.
LATEST OATA PLOTTED« SEPTEMBER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
8
GROSS NATIONAL PRODUCT IN CURRENT DOLLARS
c o mp o u n d e d a n n u a l r a t e s of c h a n g e ______
BI LLI ONS OF
TERMINAL_________________________________________________________________I N I T I A L QUARTER_______________________________________________________________ POL LARS
OIJARTF
ANNUAL
4-
6
1-67
2-67
3-67
4-67
1 - 68
2-68
3-68
4-68
1-69
3-69
2-69
4-69
1-70
2-70
3-70
4-70
1-71
7 7 4 .4
1-67
1. ®
7- 6 7
"*#6
5.1
1-67
*'. ?
7.0
8.6
4-67
5.9
7.2
8.7
7.7
7 8 4 .5
8 0 0 .9
8 15 .9
1-68
6.5
7.7
8.5
8.4
9.7
7-68
7.4
3.5
9.3
0.5
in.«
11.7
3-5 8
7.5
8.5
<5.1
9.3
9.8
1C. 1
4-6 3
7.5
8.1
8.8
3.8
9.1
1-69
7.5
8.?
«.6
8.6
2-69
7.4
H. 1
8.4
8.4
8 34 .0
8 5 7 .4
8 7 5 .2
8 ,6
7.0
9.1
7.8
8.8
8.7
7.7
7.3
7.5
«,5
8.' 3
7,5
7,2
7,2
8 9 0 .2
9 0 6 .4
7.0
9 2 1.8
1-69
7.5
8. 1
3.4
8.3
8.4
a. 3
7,7
7,4
7,6
7.6
8,2
4-6 9
7.1
7.6
7.0
7.8
7.3
7,6
6,9
6,6
6,5
6 ,2
5,3
f
9 4 0 .2
N
1
\
3,4
+4.1%
9 4 8 .0
l_7r
6.' >
7.1
7.5
7.3
7.3
7,1
6,4
6, I
5,9
5,5
5.0
3,4
3.4
2 - 70
6.7
7. 1
7.1
7.2
7.1
6.9
6,3
6, C
5,8
5,4
5.1
4.C
4,4
5,1
1 - 7C
6.7
7. 1
7.7
7. 1
7. *
6.8
6.3
6.0
5.9
5.6
5,3
4,6
5.C
5,8
6,3
4-7?
6.4
6. 7
6.8
6.7
6.6
6,4
5,9
5.6
5,4
5,1
4,8
4,5
4,2
2,0
.
*
I.?
7.3
7.2
7. 1
7.n
6,5
6. 3
6,3
6, I
6,0
U . i l
r, „ 1
5,6
4,3
1- 71
6.1
6 ,8
7,3
7 .7
11,8
2- 71
7.0
7.3
7.4
7*3
7.1
7.1
6 ,8
6 .6
6.5
6,4
6,4
6 .1
6 .6
7.7
7,7
8 ,2
u . .
1-7 1
6.9
7. ?
7. 3
7.7
7.7
7.1
6.7
6.6
6,5
6,4
6.4
6 .1
6.5
7.1
7.4
7 .7
1
9 5 6 .0
9 6 8 .5
9 8 3 .5
1-67
>-6 7
Î-A7
4-67
2-68
1-68
3-68
4-68
1-69
2-69
1-69
4-69
1-70
2-70
3-70
+96%
9 8 8 .4
..r \
1,0 4 3 .1
7,6
1* 0 5 9 .0 1»
I » 0 2 0 ,8
9,6 1
Li..,. .
4-66
RATES
2-71
f.
4-70
6,2
"
1-71
2-71
I N I T I A L QUARTER
p i pVf t. f MI A'-¿V
PRfcPAPED BY FEDERAL RESERVE BANK OF S T . LOUIS
OCTOBER 22, 1971
GROSS NATIONAL PRODUCT IN CONSTANT 1953 DOLLARS
COMPOUNDED ANNUAL RATCS OF CHANGE
*'
*
BI LLI ONS OF
________________________________ I NI T I A L QUARTER_______________________________________________________________ OOLLARS
TT^INAL
1-67
4-06
1-67
7-6 7
3-6 7
4-67
1-68
2-68
3-68
4-63
1-69
2-69
3-69
4-69
1-70
2-70
3-70
i
-j
o
ANNUAL RATES
OUAPTFR
1-71
2-71
666,6
-0.9
671.6
7 - 6 7___
1.1
__3 . 0 _
?-6 7
2.7
1.7
4.4
3.4
1.6
2.8
678,9
0-
1
-J
683.6
7.1
1-6 8
7.9
1.9
4.7
4.1
5.4
7-68
3. 7
4.6
R.r.
5.2
6.4
7.5
!-*>«
1.7
4.5
4.8
4.9
5.6
5.8
4.0
¿.-68
3.6
4. 2
4.4
4.4
4.8
4.6
3.2
7,4
1- 6 9
3.5
4.f
4.2
4. 1
4.4
4.2
3. 1
7,6
7.8
692.6
705.3
712.3
716.5
721.4
0
1.3
3.8
3.8
3.4
3.9
3,6
2.7
2,2
7.7
1.6
3-6 9
i.2
? .6
1.6
1.5
3.6
3,4
2,5
2,2
2. 1
1.8
2.0
724.2
4-60
2.8
3. 1
1.1
1.0
3 . r>
2,7
1. 9
1,4
1 .2
0.7
o .J - 1 . 4
1-70
7.3
7.6
7.6
2.4
2.3
1.9
1 ,2
0.7
0.4
-0.7
-0.8
-2,2
7-70
7.2
2.4
2.4
2.2
2.2
1.8
1 ,1
C.7
C.4
-0,0
-0.4
-1,2
-1,1
0.7
1-70
7.1
2.4
2.1
7.1
2.1
1 .7
1,1
0.8
0.5
0,2
-0.1
-0,6
-0,3
1,0
1,2
4-7r
1.7
__ l..5._
1.8
1
1. 6
1 .2
0.6
0.2
— 0,0
-0,4
-0,9
-1,3
-1,3
-0.7
-1,4
j
I
727.8
^
725.2
1.3%-
-2.9
719.8
721.1
723.3
... .
715.9
-4,0
1-7 1
?. 1
7.1
2.2
2.1
2.'*‘
1 .8
1. 2
l.C
0,8
0.6
0,4
0.2
0,5
1,4
1,6
1,8
2-7Î
2.7
7.4
7.4
2.3
7.2
2.0
1,5
1.3
1, 2
l.C
l.C
0,8
1,2
2 ,1
2,4
2,8
6,4
1-71
7.1
7.3
2.1
7.1
1,6
1.4
i ,4
1.2
1. 2
1, 1
1,4
2,7
2,5
2,8
5.2
3,8
4- 61
1- 69
2- 6 9
3- 69
4- 69
1- 70
2- 70
3- 70
4- 7 0
1- 71
-_.2_._1_ _ 7.4..
4 — 66
1 -6 7 ~7 - 6 7
' -W,7~
♦- 6 7
1-6
3
2- 68
3- 6 8
I NI T I AL
r 7
^
r
/B
729.7
738.4
2,8 1
7 4 3 . 6P
2- 71
QUARTER
p_ ” p q T l Î ~4\ NA-i Y
PREPÂPFD BY FEOERAL
OCTOBER 2 2 , 1971
RESERVE BANK OF S T . L O U I S
9
DEMAND
RATIO
SCALE
TRILLIONS
H6NP
QUARTERLY
OF
1963
AND
DOLLARS
1964
1965
PRODUCTION
TOTALS AT ANNUAL
SEASONALLY ADJUSTED
1966
1967
IN CURRENT DOLLARS.
RATIO
RATES
1968
SOURCE:
TRILLIONS
1969
U.S.
1970
OF
SCALE
DOLLARS
1971
DEPARTMENT OF COMMERCE
I2.GNP IN 1958 DOLLARS.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTED:
INDICATED.
3RD QUARTER P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST.
LOUIS
1 0
FINAL SALES IN CUgRFNT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------—
b i l l i o n s of- _______ _____________________________________________ I N I T I A L QUARTER____________________________ __________________________________DOLLARS
TERMINAL
QUARTER
ANNUAL RATES
1-67
1-67
t
7.7
2-67
2-67
3-67
4-67
1-68
2-68
3-68
4-68
1-69
2-69
3-69
4-69
1-70
2-70
3-70
1-71
4-70
2-71
'
764. 8
7.9
8.2
780. 0
792. 2
3-67
7.4
7.3
6.4
4-67
7.3
7.2
6.8
7.1
1-6 8
8.5
8.7
8.8
10. 1
13.2
2-68
8.4
8.6
8.7
9.5
10.7
8.2
10.3
8.9
9.6
8.3
005. 9
+8 .1%
3-68
8.6
8. 8
8.9
9.5
4-68
8.4
8.5
8.5
9 .C
9.5
8.2
831. 2
847. 8
867. 5
882. 1
6.9
899. 8
1-69
8.4
8. 5
9.5
8.9
0.2
8.3
8.3
7.6
8.3
2-69
8. ?
8.3
8.3
8.6
8.8
8.0
7.9
7.4
7.6
6.9
3-69
8.1
8.1
8.1
8.3
8.5
7. 8
7. 7
7.2
7.3
6.8
4-69
7.9
7.9
7.9
8 .C
8. 1
7.4
7.3
6.8
6.8
6.3
6. 1
915.0
6.6
1
929. 8
V
" ..........“ 1
1+• 4
942. 3
7 %
/o
1-70
7.7
7.7
7.7
7.8
7.9
7.2
7. 1
6.7
6.6
6.2
6.0
5.6
5.8
2-70
7.5
7.5
7.4
7.5
7.5
6.9
6.8
6.4
6.3
5. 9
5.6
5.3
5.2
4 . 6 ^ ^ ^
3-70
7.3
7.3
7.2
7.3
7.3
6. 7
6.6
6.2
6,1
5.7
5*5
5,2
5.1
4.8
5.0
6.9
4.5
4. 1
3.8
2.6
955. 6
966. 5
978.4
4-70
7.0
7.0
6.9
6.9
6.4
6.2
5.8
5.7
5.3
5.0
4. 7
1-71
7.4
7.4
7.3
7.4
7.4
7. 0
6.9
6.6
6.6
6. 3
6.3
6.2
6.3
6.5
7.1
8.2
14.0
2-7 1
7.4
7.4
7.4
7.5
7.5
7.1
7.0
6.7
6.7
6. 5
6. 5
6.5
6.6
6.8
7.3
8.1
11.0
8.0
3-71
7.5
7.5
7.4
7.5
7.5
7.1
7.0
6.3
6.8
6.7
6.6
6.6
6.«
7.0
7.5
8.1
10.0
8. 0
7.9
4-66
1-67
2-67
3-6 7
4-6 7
1-68
2-68
3-68
4-68
1-69
2-69
3-69
4-69
1-7H
2-70
3-70
4-70
1-71
2-71
INITIAL
v
__iJ +» 1l v0* 0v /%0
984. 7
■
1,017.6
\
1, 037.4
1
1, 057. 4P
(Q U A R T E R
P- P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
ncTQRER
FINAL SALES
COMPOUNDED
INITIAL
terminal
22,
1 971
IN C O N S T A N T 1 9 5 8 D O L L A R S
A N N U A L R A T E S OF C H A N G E
BI LLI ONS OF
DOLLARS
ANNUAL RATES
QUARTER
QUARTER
1-67
1-67
2-67
3-67
4-67
1-68
2-68
3-i68
4-68
1-69
2-69
3-69
4-69
1-70
2- 70
3- 70
4- 70
1-71
657. 5
,.0
2-67
5.6
6. 1
3-67
4.4
4.0
667. 3
2.0
670. 6
67 4. 4
4-67
3.8
3.4
2. 1
2.3
1-68
5.0
4.9
4.6
5.9
9.6
2-68
4.8
4.7
4.4
5.2
6.7
3.8
3-6 8
4.8
4.8
4.5
5.2
6.?
4 .5
5.2
4-A R
4.5
4.4
4. 1
4.6
5.1
3.7
3.6
2. 1
4.9
3.7
3.7
3 .C
3.9
690. 0
696. 5
705. 3
709. 0
1-69
4.4
4.3
4.1
4.4
2-69
4. 1
4.0
3.8
4.0
4.3
3.3
3. 1
2. 5
2.6
1. 4
3-69
3. 7
3.6
3.3
3.5
3.7
2.7
2.5
1.9
1 .R
0.8
0.2
4-69
3.5
3.4
3.1
3.2
3.3
2.5
2. 3
1 .7
1.6
0.8
0.6
0.9
1-70
3.2
3.0
2.8
2.9
2.9
2. 1
1. 9
1 .3
1.2
0. 5
0.2
0.3
715. 8
718. 3
718. 6
720. 3
- 0 . 6 %
-0.4 \
719. 5
2-70
3.0
2.8
2.5
2.6
2.6
1.9
1.6
1. 1
r .9
0.4
0.1
0.1
-0.3
-0.2
3-70
2.8
2.6
2.3
2.4
2.4
1.7
1.4
1 .C
0.3
0.3
0.1
0.1
-0.2
-0.0
0.2
4-7 C
2.4
2.2
1. 9
1.9
1.9
1 .2
0.9
C .5
C. 3
-0.2
-0. 5
-0.6
-1.0
-1.2
-1.7
-3.6
1-71
2.7
2. 5
2.3
2.3
2.3
1.8
1.6
1 2
.
1.1
0. 8
0.7
0.8
0.8
1.1
1. 5
2. 2
7-71
2.7
2.6
2.4
2.4
2.4
1. 9
1.7
1 .4
1.4
1.1
l.l
1. 2
1.2
1.6
2. 0
2.6
5. 9
3. 6
3-71
2.8
2.7
? .5
2.6
2.6
2 .1
2. 0
1.7
1.7
1.4
1. 4
1.6
1. 7
2. 1
2. 5
3.1
5. 5
4. 1
4-6 6
1-67
2-6 7
3-6 7
4-67
1-68
2-68
3 - 68
4-68
1-6Q
2-69
3-69
4-69
1- 70
2- 70
3- 70
4-70
INITIAL
P-
2-71
i
719. 1
719. 4
X
712. 8
+ * *r°/
8. 3
727.1
1-71
733. 5
4. 7
1
7 4 1 . 9P
2- 71
QUARTER
PRELI MI NARY
PREPARED BY FEDERAL
AUGUST 2 0 , 1971
RESERVE
BANK OF S T .
LO U IS
11
FINAL
SALES
TOTAL SPENDING LESS CHANGES IN BUS INES S
RATIO
SCALE
TRILLIONS
1
OF
QU A R T E R L Y
DOLLARS
TOTAL S
AT ANNUAL
SEASONALLY
INVENTORIES
RATIO
RATES
ADJUSTED
TRILLIONS
OF
SCALE
DOLLARS
1 .3
.
1
1
I
,
1
.2
1
.
1
.0
1
C.
0.9
0 .
0 . 8
0 .
0.7
0 .
0 . 6
0
0.5
.
SOURCE.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTED«
U.S.
department
of
commerce
INDICATED.
3RD QUARTF.R P R E L I M I N A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST.
LOUI S
12
CONSUMER P RI CE I NDEX *
COMPOUNDED ANNUAL RAT ES OF CHANGE
T ERMI NAL________________________________________________________________________ I N I T I A L MONTH________________________________ '_________________________________________ 19 67 » 1 00
MONTH
3-71
5- 71
6- 71
7- 71
S- 71
1-71
4-71
2-71
2-70
3-70
4-70
9-7T 10-70 Ü - 7 0 12-70
5-70
6-70
7-70
8-70
6.5
114. 5
7.6
5-70
6. 5
6.5
5.3
6-7 C
6. 5
6.4
5.9
...
7-70
6.0
5.9
5.3
5.3
8-70
5.3
. 5.1
4. 5
4.2
M
2.1
5.5
5.3
4. 9
4.7
4.2
4.2
6.3
10-70
5.6
5.5
5. 1
5.1
4.7
4.9
6.3
11-70
5.4
5.3
5.0
4.9
4.6
4.7
5.6
5.2
4.1
12-70
5.5
5.4
5. 1
5.1
4.9
5.0
5.8
5.6
5.2
6.2
1-71
5. 1
4. 9
4.7
4.6
4.3
4. 3
4.8
4.4
3.8
3.6
2-7 L
4,3
4.7
4,4
4.3
4. C
4 .C
4.3
3.9
3 .^
3. 1
1. 5
2.0
3 — 71
4.8
4.6
4.4
4.3
4.0
4.0
4.3
4 .C
3.5
3. 3
2.4
3.1
4.1
4-71
4,7
4.6
4.3
4.3
4 .C
4.0
4.3
4.0
3 .6
3.5
2.8
3.4
4.1
4. 1
5-71
4.8
4.7
4.5
4.4
4.2
4.2
4.5
4.2
4 .C
3.9
3.5
4.1
4.8
5.1
6.2
0
1
7.0
»o
»
o
3-70
115. 2
115. 7
116. 3
(
!
116. 7
4.2
116. 9
117. 5
6.3
118. 1
118. 5
v
119. 1
l.n
119. 2
119. 4
119. 8
120. 2
120. 8
6-71
5.0
4.9
4.7
4.6
4.5
4.5
4.7
4.6
4.3
4.4
4. 1
4.7
5.4
5.8
6.7
7. 2
\
7-71
4.8
4.7
4.6
4.5
4.4
4.4
4.6
4.4
4.2
4.2
3.9
4.4
4.9
5.1
5.4
5. 1
3. 0
8-71
4.8
4. 7
4.5
4,5
4.3
4.3
4.5
4. A
4.2
4.2
^.9
4.4
4.7
4.9
5.1
4.7
3.5
4.0
9-7 1
4.7
4.5
4.4
4.3
A.2
4.2
4«3
4.2
4.0
4.0
3. 7
4. 1
4. 3
4.4
4.4
4.0
3. 0
3.0
2.0
2-70
3-70
4-70
5-7"
7-70
8-70
9-70
1 0-70
11-70
2-71
3-71
4-71
5-71
6-71
7-71
8-71
6-70
12-70
INITIAL
»
. +4.2%
NOT
1-71
121. 5
121. 8
122. 2
1
122. 4
MONTH
SEASONALLY A DJ US T ED
PREPARED PY FEDERAL
O C T OBER 2 ? , 1971
RESERVE
BANK OF S T .
LOUIS
WHOLESALE P R I C E S - I N D U S T R I A L COMMOD I T I E S ♦
COMPOUNDED ANNUAL RAT ES OF CHANGE
1
o
T ERMI NAL
I N I T I A L MONTH
MCNTH__________________________________ ____________________________________________________________________________
2-70
3-70
4- 70
5- 70
6-70
7- 70
8- 70
10- 70 11- 70 12- 70 ■T - t r ..1 - 7 Ï ” T - ? r ’™ 7 Y .... T T T
3-7C
2.2
4-70
3.4
4.5
5-7C
3.7
4. 5
4.5
6-70
3. 1
3.3
2.8
i.i
7-70
2 .9
3. 1
2.6
1. 7
2.2
8-7 0
2.H
2.9
2.5
1 .8
2.2
2.2
9 -7 C
2.7
2.8
2. 4
1.9
2.2
2.2
2.2
10-70
3.6
3.8
3.7
3.5
4.2
4. 8
6. 1
.
1967 « |00
___________________________
™ 7 T "7*71"" " P I I ....
108. 9
109. 3
Ir
1
v
Ì09.7
109. 8
110. 0
ilô.i
\
,
110. 4
10.2
111. 3
1 1-70
3.2
3. 3
3 .2
2.9
3.3
3.6
4.1
5. C
0.0
12 - 7 C
3.3
3.4
3.3
3.1
3.5
3.7
4»1
4. 8
2.2
4. 4
1-71
3; 5
3.6
3.6
3.4
3.8
4.0
4.4
5. C
3.3
5. C
2-71
3 .5
3.6
3.5
3.4
3.7
3.9
4. 2
4.6
3.3
4. 4
4.4
3.3
3-71
3.5
3.6
3.5
3.4
3.7
3.8
4.1
4.4
3.3
4. 1
4.0
3.3
3.2
4-71
3.6
3.7
3.7
3.6
3.8
4.0
4.2
4.5
3.6
4.4
4.4
4.Û
4.3
5.4
5-71
3.7
3.8
3.7
3.6
3.9
4. C
4.3
4.5
3.7
4.4
4.4
4. 1
4.3
4.9
4.3
^
113.Ï
6-71
3.6
3.7
3.6
3.5
3.7
3.9
4 .C
4.2
3.5
4. 0
4. 0
3.7
3.8
4.0
3.2
2. 1
113, 9
7-71
3.7
3.8
3.8
3.7
3.9
4.1
4.3
4.5
3.9
4.3
4.3
4.1
4. 3
4.6
4.3
4,3
6.5
111.3
\ +. 3^ .6 %
5. 5
111.7
i l 2.2
X
ili.5
112. 8
113. 3
114. 5
8-71
3,9
4.0
4.0
3.9
4.1
4.3
4.4
4.7
4.1
4.6
4.6
4.5
4.7
5. 0
4.8
5. 0
6.5
6.5
9-71
3.6
3.7
3.7
3.6
3.8
3.9
4.0
4.2
3.6
4.0
4.0
3.8
3.8
3.9
3.6
3. 5
3. 9
2.6
2-70
3-70
4-70
5- 70
6-70
7-70
8- 70
9 - 70
i. v - T Q
___________________________________________________________________________________ I N I T I A L
‘ NOT SEASCNALLY AD J US T E D
-UrJfi
- 1 . - 7 1 - ,? t 71 - 1 - 7 1 .
115. 1
-1.0
115. 0
- * - L L , T - I l , .fl T . I l . ,
MONTH
PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
otTOBER 7 , 1971
13
RATIO
PR I C E S
SCALE
RATIO
SCALE
1967-100
1967-100
130
130
jan.
'63
M*tf. ‘
SS
ml
\ \
1/f. ' 69
1
rsz
\
*
JUNE T O
se/3. ' / ?
125
1 25
+4
120
e S 2 '
CONSUL ER
1 15
+ 6 !Y
! 15
V
\
\
........... ..\ 1 1 0
1
i
|
-1105
1 10
‘
‘’P ' s
105
S
100
95
1 2 0
/
1 0 0
+2. 9 Z ^
—
120
* i
+/
.JZ
.... 11
95
!!—
.. ...r
1
+3. 6’/ ^
1 15
12 0
.
_L
1 15
y^ \ 15.0
1 10
1 1 0
+3. 9 2 /
\
i
105
105
+.
+ 1.6%
1 0 0
N D U S T R 1A L -...-
WHOL E S A L E
1 00
+Ch 6Z
95
95
1
JULY'S?
ifi. 'SS
JAM. ’63
t
....... ...... 1 1
90
1963
1964
1965
1966
1967
ocr. •&9
1
MA/ ’/O
t
ti
1968
1969
SOURCE:
P E R C E NT A GE S ARE ANNUAL R A T E S OF CHANGE FOR P E R I O D S
LA T E S T DATA P LOT T E D:
1970
U.S.DEPARTMENT
SF A 'Z/
1971
OF LABOR
INDICATED.
S EP T E MB E R
P H F P A R F O RY F E D E R A L
RESERVE
!
4i . f!
BANK OF S T .
LOUIS
90
14
WHOLESALE PRI CES.
'■'«•»mumrn
ALL COMMODITIES »
rip ruANCF
AMMIIAI
OAT*«
I
3- 7 0
7- 70 “ 8=7r T T f T 1 5 = 7 0 - T P T c T T f - 7 r T = T T mT T T " T - 7 T “ 4 - 7 F “ J - T T - T ^ r
6-70
5-70
4-70
7-71
too
M l " .......
1 0 9. 9
3-70
2. 2
4-70
l.l
0.0
5- 7Ò
1. 5
l.T
2.2
6-70
1. 6
1. 5
2.2
2.2
7- 7C
?.*
2.8
3. 7
4.4
6.7
8 - 70
1. 5
1. 3
1. 6
1. 5
l.l
2.5
1 0 9. 9
lifl.r
110. 3
1 1 0. 9
-4.2
11 0. 5
2.6
111.0
9-70
2.0
2.0
2. 4
0.5
5. 6
IC-7C
1. #
1. 7
2. 0
2.0
1. 9
0.4
2.7
o.c
II-7C
1. 5
1. 4
1. 6
1. 5
1. 3
0.0
1. 5
-0.5
-1.1
12- 70
1. 4
1. 3
1. 5
1. 4
1. 3
0.2
1. 4
O. C
0.0
l.l
1-71
2.1
2. 1
2. 3
2.3
2.3
1. 6
2.8
2.2
2.9
5.0
9. 0
111.0
IÌO.9
11 1. 0
111. 8
112. 8
2- 71
2. 8
2.9
3.2
3.3
3.4
3.0
4.2
3.9
4.9
7. 0
10.1
11. 3
3- 71
2.«
2.S
3. 1
3. 2
3. 3
2.9
3. 9
3. 6
4.4
5.8
7. 4
6.6
2. 1
4- 71
2.8
2.9
3. 1
3.2
3.3
2.9
3. 8
3. 6
4.2
5.3
6.3
5.5
2.7
11 3. 0
11 3. 3
3.2
11 3. 8
5- 71
3. 0
3. C
3. 3
3.4
3. 5
3. 1
4.0
3. 8
4.4
5.3
6.2
5.5
3.6
4.3
5.4
6- 71
3. 1
3.2
3.4
3. 5
3.6
3.3
4.1
4.0
4.5
5.3
6.0
5.5
4.0
4.7
5.4
5.4
7- 71
3. 1
3. 2
3.4
3.5
3.6
3. 3
4. 1
3. S
4.3
5.0
5.6
5. 1
3.9
4.3
4.7
4.3
11 4. 3
1 1 4. 6
3.2
114.9
8- 71
3. 1
3. 2
3.4
3.5
3. 6
3.3
4.0
3.8
4.2
4.8
5. 3
4.8
3. 8
4.1
4.3
3.9
3.2
3.2
9- 71
2.7
2. 8
2. 9
3.0
3. C
2.8
3.3
3. 2
3.4
3.9
4.2
3.6
2.6
2.7
2.6
1. 9
0.7
-0.5
-4.1
2-70
3- 70
4- 7C
5- 7 0
6-70
7-70
8-70
71
2- 7 1
3-71
4-71
5- 7 1
6-71
7- 71
8-71
9 - 7 0 10- 70 1 1 - 7 0 12 - 70
INITIAL
I
t
114. 5
MONTH
NCT SEASONALLY ADJUSTED
PREPARED BY
OCTOBER
7.
J L W. i l --------197
WHOLESALE PRICES - FARM PRODUCTS» AND PROCESSED FOQDS ANO FEEI1S*COMPOUNDED ANNUAL RATES OF CHANGE
IN ITIA L
TERM INAL
2-7s>
3- 7 0
l.l
4-70
«V
IT
1
5-70
-5.6
4-70
3- 7C
5-70
6-70
7- 7 0
8-70
9-7C I C- 70
1967 « 100
MONTH
11- 7C 12- 7C
1- 71
2-71
3- 7 1
4-71
5-71
6-71
7-71
8-71
1 1 2. 9
111.8
-11.1
-8.7
-6.3
11 1. 2
11 1. 7
6- 7 0
-2.9
-4.2
-0.5
5.5
7- 7 0
1. 3
1. 3
5.8
12. 5
8- 7 0
-2.8
-3.6
-1.6
0.0
9- 7 0
-0.3
-0.5
1. 7
3.6
10- 70
-3.3
-3.9
-2.7
-1.9
- 3 . 7 -1C.5
-4.8 -21.9
11- 70
- *•4
-4.0
-2.9
-2.3
-3.8
-9.0
-4.6 -13.6
-4.3
12- 70
-3.7
l
*
IN»
*
1967
I N I T I A L MONTH
TERMINAL
-3.3
-2.9
-4.1
-8.5
-5.0 -11.2
-5.3
—6 . 4
1- 71
-2.0
-2.3
-1.3
-0.7
-1.5
-4.7
-1.1
-5.0
1.5
4.4
16.5
2- 71
0.7
0.7
1. 9
2.9
2.6
C.3
4.4
2.1
9.2
14 . 2
26. 1
36.4
3- 71
0.5
a.
1. 6
2.4
2.0
C. O
3.4
1.4
6.9
9.9
15.9
15.6
-2.1
.
<M
1
4
113.4
19 . 9
3.3
11 1. 2
-2C.9
-4.2
112.6
16. 2
1 1 0. 3
109. 9
109é3
110. 7
113.6
11 3. 4
4- 71
0.4
C.3
1. 3
2.1
1.7
-C.l
2.8
1. 1
5.5
7.6
11.4
9.7
-1.6
-1.1
5- 71
1. 1
1. 1
2.1
2.8
2.5
1. 0
3.7
2.3
6.3
8.2
11 . 3
10. 1
2.5
4.9
11.1
113.3
6- 7 1
1. 7
1.8
2. A
3.9
3.3
1.9
4.5
3.3
7.C
8.7
11.5
10 . 5
4.8
7.2
11.6
114.3
115.4
12 . 2
7- 71
1. 4
1. 4
2.3
2.9
2.7
1.4
3.7
2.6
5.7
7.0
9.1
7.9
3.0
4.3
6.1 * 3.7
-4.1
e-7i
l.l
1.1
1. 9
2.4
2.2
1.0
3.1
1. 9
4.7
5.7
7.4
6.1
1.8
2.6
3.5
1. 1
-4.1
9- 71
<•.!
0.1
0.8
1.2
0.9
-0.3
1.5
0.4
2.7
3.4
4.5
3.1
-0.9
-0.7
-0.6
^2-70
3-70
4-70 __5-70
6-70
7-70
8-70
9-7G 10-70 11-70 12-70
1-71
2-71
3-71
4-71
115.0
-4.1
114*6
-3.4
-8.1 -10.0 -15.5
113.0
5-71
6-71
7-71
•-71
INITIAL MONTH
*
NCT
SEASONALLY
ADJUSTEO
reserve
b «w k
O f ST. L O U I S
15
GENERAL P R I C E
RATIO
INDEX*
SCALE
RATIO
1 95 8 - 1 0 0
SCALE
1958-100
1963
1964
1965
1966
1967
«AS USED IN NATIONAL INCOME ACCOUNTS
1968
1969
1970
19 71
SOURCEt U .S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED.
LATEST DATA PLOTTED* 3RD QUARTER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
IMPLICIT P R I C E np F L A T D R FOR GR O S S N A T I O N A L PRODUCT
___________ C O M P O U N D E D A N N U A L R A T F S O F C H A N G E ________________________________
TFRMfMAL
OUARTFP
INITIAL
4-'.6
1-67
2-6 7
3-67
4-67
1-63
2-68
3-68
4-68
1958 =
QUARTER
2-69
1-69
3-69
4-69
1-70
2-70
4-70
3-70
1-71
116.2
1-67
2.8
2-67
2.4
2.1
3-67
3.0
3.1
4-6 7
3.5
3.7
4.5
4.8
1— 6 3
3.5
3.6
4. 1
4. 1
? .4
?-68
3.6
3.7
4. 1
4. 1
3.7
4.0
3-6 3
3.7
3.8
4.?
4.?
3.0
4.2
4.3
4-6 8
3. «
3.9
4.?
4.2
4.1
4. 5
4.5
4.6
1 -6 0
3.8
4.0
4.2
4.2
A. 1
4.3
4.4
4.4
4.?
2-69
4.0
4. 1
4.4
4.4
4.4
4.6
4.7
4. «
4.9
116.8
N.
4.2
118.0
+ v l 9° /
119.4
120.4
121.6
A - A ft°/
122.9
124.3
125.6
......\
5.5
127.3
+5.8%
3-69
4. ?
4.3
4.6
4.6
4.6
4.8
5.0
5.1
5.3
5.P
6.1
4-69
4.2
4.4
4.6
4.6
4.6
4.8
4.9
5.C
5.1
5. 5
5.4
4.7
1-7C
4.4
4.6
4.3
4.8
4.9
5.0
5.2
5.3
5.4
5. 7
5.8
5.7
129.2
130.7
6.6
132.8
7-7C
4.4
4.6
4. «
4.'j
4. 3
5.0
5.1
5.2
5.3
5.5
5.5
5.3
5.6
4.6
3-7 3
4.5
4.6
4.8
4.8
4.8
5.0
5.1
5.2
5.3
5.4
5.4
5.3
5.4
4.9
4- 7~
4.6
4.7
4.9
6. C
5
5.1
5.2
5.3
5.4
5.6
5.6
5.5
5.7
5.4
5.7
6.3
1-71
4.6
4.7
4.9
5.0
5.0
— _5._. 1
5.2
5.3
5.4
5.5
5.5
5.4
5.6
5.3
5.6
5.8
5.3
..£ ?.7__ 4 . 9
134.3
c— +4 8%-
136.0
138.1
\
139.9
4.9
4 .^
5.0
5.1
5.2
5.3
5.4
5.4
5.2
5.3
5.1
5.2
5.2
4.7
4.1
4.5
4.6
4.8
4.8
4.6
4 .0
5.0
5.0
5.1
5. 1
5.1
5.0
5.0
4.8
4.8
4.7
4.2
3.6
3.2
4-66
1-67
2-67
3-67
4-67
1-6?,
2-68
3-68
4-68
1-69
2-69
3-69
2-70
3-70
4-70
1-71
2-71
INITIAL
o
1
-j
4.6
3-7 1
■
P*
1
>
2-71
P-
100
2-71
141.3
142.4P
QUARTER
PRf LI MI N Ar?Y
PREPARED BY FEDERAL
OCTOBER 2 2 » 1971
RFSFRVC
BANK OF S T .
LOUIS
I N V E N T O R I E S COMPARED WITH MONTHLY S A L E S *
MANUFACTURING
* R A T ! OS B A S E D
ON S E A S O N A L L Y
ADJUSTED
AND
TRADE
DATA.
S OURCEt
U . S . DEPARTMENT
OF
COMMERCE
SHAD E D A R E A S R E P R E S E N T P E R I O D S OF B U S I N E S S R E C E S S I O N S
AS D E F I N E D BY THE N A T I O N A L BUREAU OF E C O N O M I C R E S E A R C H .
♦LATEST
http://fraser.stlouisfed.org/B E I N G
Federal Reserve Bank of St. Louis
DATA
PLOTTED:
REVISED).
JULY
PRELIMINARY,
AUGUST
UNOFFICIAL
PREPARED
ESTIMATE
BY F E D E R A L
(RETAIL
RESERVE
SALES
BANK
SAMPLE
OF S T .
LOUIS
@FedFRASER