Full text of National Economic Trends : November 1974
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n f m o iM L Econom ic t r e d d s PREPARED M O N TH E N D IN G : BY FEDERAL R ESERVE BANK October 31, 1974 OF ST. LOUIS RELEASED: November 26, 1974 The advance of Income and sales since late last winter has almost resumed the pace that prevailed prior to the period of the oil embargo. During the interim, however, prices accelerated and employment and production growth slowed. Unlike previous periods of economic slowdown, the most recent sluggishness in real economic activity does not appear to be traceable to a marked and sustained reduction in total demand for goods and services. Con tributing to the recent slowdown of production and employment is the increase in the price of energy, environmental regulations, and the lingering effects of the wage-price control program, all of which have tended to reduce economic capacity and place upward pressures on prices. Rates of change for selected economic variables for periods before, during, and after the embargo period are summarized in the following table. Compounded Annual Rates of Change of Selected Economic Variables (Percent) 4/72-4/73 4/73-10/73 10/73-3/74 3/74-10/74 Nominal Variables Personal Income Retail Sales 11.3 13.5 11.8 8.9 5.9 5.1 10.9 8.0 Real Variables Industrial Production Total Employment 9.6 3.3 4.7 4.3 -4.3 0.6 0.3 1.3 5.2 9.2 12.0 12.3 5.9 8.2 26.9 29.2 Price Indexes Consumer Wholesale Indus trials Though any conclusions are necessarily tentative, price data for most recent months indicate a slight moderation in the advance of prices. Wholesale industrials increased at a 14 percent annual rate from August to October, compared to a 28 per cent rate in the previous 12 months. More dramatic, however, is the 23 percent rate of decline in the spot price of raw materials since March. Such prices had increased 53 percent in the previous year. TOT A i .ç |v i n AN g WPCQYHI-MT___ C O M P O U N D E D ANNUAL RATES OF CHANGE TERMINAL MONTH THOUSANOS OF PERSONS IN IT IA L MONTH 3-73 4-73 6-73 5-73 7-73 8-73 4-73 1.0 5-73 1.2 1.4 6-73 3.6 4 .8 8.4 7-73 3.0 3 .7 4.9 1 .5 ti-73 2.1 2 .4 2.7 -0 .0 - 1 .5 4.3 2 .9 3.7 9 .2 4 .1 4 .9 8.3 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 83*854 - 83*9*0 84*51« 84*621 84*£13 85 * 133 9-73 3.3 3 .7 10-73 3.9 4 .3 4.9 i 1-73 3.4 3.7 4 .1 3 .2 3.7 5.5 3.7 0 .0 12- n ..... 3.0 3 .3 3.5 2 .7 3 .0 4*2 2 .5 0.1 0 .3 ( 85*649 \ 85*649 1.3% 85*644 85*803 85*811 1-74 2.9 3.1 3.3 2 .6 2 .8 3.7 2 .4 0 .8 1.1 2 .0 2-74 2 .6 2 .8 3 .0 2 .3 2.4 3.1 1.9 0 .5 0.7 0 .9 -0 .1 w 1 * 7.5 2 .5 2 .6 2 .7 2 .1 2 .2 2 .8 1.7 0 .6 0 .8 0 .9 0 .4 0 .8 1........"1 0*4 \± * ] 0 .4 -0 .2 - 0 .2 - 1 .2 4-74 2.2 2 .3 2.4 1.8 1.8 2 .2 1.3 8&*06§ 85*7t§ ¿5f 9TT 2.2 2 .3 2 .4 1.9 1.9 2 .3 1.5 0 .6 0.8 0 .8 0 .6 0*8 0 .8 2.3 2 .4 2.4 1.9 2 .0 2 .4 1.6 0 .9 1.0 1.2 1.0 1.3 1.4 2.8 z.i ^xH.7% 86*16$ 7-74 2.3 2 .3 2 .4 2 .0 2 .0 2 .3 1.7 1.0 1.2 1.3 1.2 1 .4 1.6 2 .5 2 .4 2 .! 86*312 * 2.1 2.1 1.7 1.7 2.0 1.4 0 .8 0.8 0.9 0 .8 0 .9 0 .9 1 .4 1 .0 0 .2 - 1 .7 2.2 2 .2 2.3 1.9 1.9 2 .2 1.7 1.1 1.2 1.4 1.3 1.5 1.6 2 .0 1.7 1.6 5 .0 V 86* 2.0 2.1 2 .1 r----- 1.8 1.8 1.5 1.2 0 .9 2 .3 - 0 .4 \ 86*511 5-74 6-74 7-74 8-74 3-73 2.1 5-73 W 3 2 .0 7-73 , i?73 1.5 1.0 1.1 1.2 1.1 1.2 1.3 9-73 10-73 11-73 12-73 *-74 ?- 7 * 3-74 [13 4-74 ...... . 8 6 *18t 2.0 9-74 0 1 * • 00 5-74 6-74 9-74 IN IT IA L MONTH PAYROLL EMPLOYMENT COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH 4-73 " * - 71" 417^ 5-f 3 6-73 M 3 8-73 9-73 10-73 11-73 12->3 1^4 IP 7 4 5-74 5^74 6-74 7-74 8-74 9-74 75*105 3. i I T 75*321 I T - 3 = 7 1 ----- T T T X * T T T 2.3 2 .0 1.3 2 .7 2 .6 3-73 THOUSANOS OF PF.RSONS IN IT IA L MCNTH - y .f i- 7-73 2 .8 2 .6 T S T526 ' -0 .8 75,478 18 75,747 2 .3 3.9 75*961 34 IN IT IA L MCNTH p . P R Ç L IM IN A R Y P R E P A R E D 8 Y F E O E R A L RfcStRVE B A N K OF N O V E M B E R 1* 1 9 7 4 2 ST. L O U I S E MPLOYMENT RATIO SCALE MILLIONS RAT \ 0 S C A L E SEASONALLY OF P E R S O N S MILLIONS adjusted SOUR C EI PE R C E N T A flE S LATEST ARE AMNUAL DATA PLO TTE D * R AT ES OF CHANGE FOR P E R IO D S OF U .S .D E P A R T M E N T P E R S ONS OF LABO R IN O IC A T E D . OCTOBER P R E L I M I N A R Y PR EP A R E D §Y FEDERAL RESERVE SAUK OF S T . L O U IS UNEMPLOYMENT R A T E S 1 PERCENT SEASONALLY ADJUSTED S O U R C Ei ■ PE R C E N T LATEST OF C IV ILIA N LABOR FO RCE DATA PLO TTED t OCTOBER PERCENT U .S . D EPA R TM EN T OF LABOR IN 6R0U P PR EP A R E D 3 SY FE D E R A L R ES ER V E SANK OF ST. L O U IS C O N S U M E * OR ICE I N D E X , S E A S O N A L L Y A D J U S T E D C O M P O U N D E D A N N U A L R A T E S QC C H A N G E TERMINAL___________________________________________________________________ IN IT IA L MONTH____________________________________________________________________1967 » 100 MONTH 3 -7 3 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 8-74 9-74 3-74 4-74 5-74 6-74 7-74 130.71 4 -7 3 7 .9 5-7 3 7.5 7 .0 6-73 7.5 7.3 7.6 7-7 3 6.1 5.5 4 .7 2 .0 8-73 9 .6 10.1 11. 1 12.9 24.9 >-73 1 0 -7 3 131.45 132.25 132.47 134.95 135.50 3.9 9 .0 9.5 1 0 .2 14.5 5 .0 •;> *> 9.2 9. 7 10.2 13.1 7.6 10.2 0.3 9 .7 10. 1 1 2 .2 8.3 10.0 11 - 7* • 136.60 137.67 9 .8 3. i 9.1 9.4 9 .7 11.3 8. 1 9 .2 1-7 4 9 .4 « .6 9 .9 10.2 11.6 9.2 10.2 1 0 .2 10.5 13.5 2-74 10 . o 1 0 .2 10.5 10.9 12.2 10.2 11.3 11.6 12.2 14.6 15.7 3-74 10.2 10.5 10.8 11.2 12.4 10.7 11.7 12.0 12.5 14.2 14.6 1 3 .6 „ 4-74 10.0 10.2 10.5 1 0 .8 11.8 1 0 .? 11.0 11.1 il.4 12.4 12.1 10.3 7.1 5-74 1 0 .? 10.4 10.7 11.0 12.0 10.6 11.3 11.5 11.8 12.6 12.4 11.4 10.3 13.5 6-74 10.4 l n . 6 10.8 11.1 12.0 10.8 11.4 11.6 11.8 12.6 12.4 1 1 .6 10.9 12.8 12.2 7-74 1n .* 10.5 10.7 11.0 11.8 10.6 11.2 11.3 11.5 12.1 11.9 11.1 10.5 11.7 10.8 9.5 3—74 10. 7 10.9 11.2 11.4 12.2 11.2 11.8 11.9 12. 1 12.7 12.6 12.1 11.9 13.1 12.9 13.3 17.3 9-74 11.0 11.2 11.5 11.7 12.4 11.5 12.1 12.3 12.5 13.1 13.1 12.7 12.5 13.7 13.7 14.2 16.7 16.0 10-74 11.0 11.2 11.4 11.7 12.3 11.5 12.0 12.2 12.4 12.9 12.8 12.4 12.3 13.2 13.1 13.3 14.7 13.4 10.8 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 12-73 8 .6 138.50 7.5 139.97 141.68 143.19 144.01 145.54 146.94 148.05 150.03 151.90 153.20 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS NOVEMBER 21, 1974 WHOLESALE P R IC ES - INDUSTRIAL COMMODITIES, SEASONALLY ADJUSTED COMPOUNLEO ANNUAL RATES OF CHANGE TERMINAL MONTH IN IT IA L MONTH 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 1967 = 100 2-74 3-74 4-74 5-74 6-74 7-74 4-73 12.0 5-73 12.1 12.2 6-73 11.1 10.7 9.2 7-73 8.5 7.4 5 .0 1.1 a- 73 8.3 7.3 5 .8 4.1 9-73 3.5 7.9 6 .8 6 .0 8.6 9 .9 10-73 8.8 8.2 7.5 7.0 9. 1 10.0 10.1 11-73 10.0 9.6 9 .4 9.4 1 1.6 13. 1 14.7 19.5 12-73 11.0 10.3 10.7 10.9 13.0 14.4 16.0 19.1 18.6 1-74 12.5 12.5 12.6 13.1 15.2 16.9 18.7 21.7 22.8 27.2 2-74 13.9 14.1 14. 3 15.0 17.1 18.8 20.7 23.5 24.8 28.1 2 9 .C 3- 74 16.0 16.3 16.8 17.6 19.9 21.8 23.9 26.9 28.8 32.3 3 5 .0 41.3 4-74 17.6 18.0 ld .6 19.6 21.8 23.8 25.9 28.7 30.7 33.9 36.2 3 9 .9 5-74 18.9 19.5 2C.1 21.1 23.4 25.3 27.4 30.0 31.9 34.7 3 6 .7 39.3 38.3 38.2 6-74 19.7 20.2 20.9 21.9 24.0 25.8 27 .7 30.1 31.7 34.0 35.4 37.1 35.7 34.3 30.5 7-74 20.8 21.4 22.1 23.1 25.1 26.9 23.7 31.0 32.5 34.6 35.9 37.3 36.4 35.7 34.4 38.4 8-74 21.5 22.2 22.9 23.9 25.9 27.6 29.3 31 .4 32.8 34 .7 35.8 3 6 .9 36.1 35 .5 34.6 36.6 34.9 8-74 9-74 123.75 124.94 125.86 125.97 7.3 126.71 127.71 128.74 130.67 132.54 135.22 138.12 142.16 38.5 146.07 150.06 153.43 157.64 21.6 22.2 23.2 24.9 2 o.4 27.9 29.6 30. 7 32.1 32.7 33.2 31.9 30 .7 28.8 28.3 23.5 13.1 20.7 21.2 21.7 ¿ 2 .6 24.2 25.5 26.8 28.3 29.1 30.2 30.5 30.7 29.2 27.8 25.8 2 * .6 20.3 13.7 .14.2 3-73 4-73 c-7 3 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-7 4 X* 21.1 0 1 161.62 9-74 163.29 165.11 IN IT IA L MONTH P R E P A R E D dY F E D E R A L R E S E R V E N O V E M B E R 14, 1 9 7 4 4 B A N K O F ST. L O U I S PRICES RATIO SCALE 1967-100 P E R C E N T A G E S A R E A N N U A L R A T E S OF C H A N H F O R P E R I O D S LATEST DATA PLOTTED* RATIO SCALE SEASONALLY ADJUSTED 1 9 6 7 « ! 00 INDI C A T E D . OCTOBER P R E P A R E ? B Y F E O E R A L R E S E R V E B A N K O F ST. L O U I S ratio scale WHOLESALE PRICES PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIODS LATEST OATA PLOTTEOt ratio scale INDICATED. OCTOBER INK OF S T. 5 LOUIS W H O L E S A L E P R I C E S - ALL C O M M O D I T I E S , S E A S O N A L L Y A O J U S T E O C O M P O U N D E D A N N U A L R A T E S O F C H A N G E _____________ TERMINAL MONTH " ______________________ IN IT IA L MONTH____________________________________________________________________ 1967 » 100 3-73 4-73 5-73 6-73 7~ 73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-7» 10.1 130.27 5-73 17.1 24.6 132.68 6-73 20.9 2 6 .6 4-73 135.50 28.7 133.63 7-73 10.6 10.7 8-73 25.1 29.1 30.7 4 .4 -1 5 .4 31.7 104.9 9-73 17.0 18.4 16.9 13.2 141.86 139.76 30.9 -1 6 .4 139.65 10-73 14.2 14.9 13.1 9 .5 19.3 - 9 .0 - 0 .9 11-73 13.3 13.8 12.1 9 .0 16.1 - 3 .9 3 .0 7 .2 12-73 14.1 14.7 13.3 10.9 17.1 1 .8 8 .7 13.9 21 .0 140.46 142.71 146.79 1-74 16.5 17.3 16.4 14.7 20.7 8 .5 15.9 22.1 30.3 40.3 2-74 16.8 17.5 16.7 15.3 20.5 10.3 16.6 2 1 .4 26.6 29.4 19.4 3-74 16.6 17.3 16.5 15.3 19.8 11.0 16.3 20.1 2 3 .6 2 4 .5 17.3 15.1 4-74 16.5 17.0 16.3 15.2 19.2 11.4 16.0 19.1 21. 7 21.9 16.3 14.7 14.3 15.5 148.98 150.74 152.43 5-74 16.5 17.0 16.4 15.3 18.9 12.0 16.1 18.8 20.8 20.8 16.4 15.4 6-74 15.7 16.1 15.5 14.5 17*7 11.3 1 4.9 17.1 Id .6 18.2 14.2 12.9 12.2 11.1 5 .8 7-74 17.9 18.4 18.0 17.2 20.4 14.7 18.4 20.8 2 2.6 22.8 20.1 2 0 .3 21.6 24.1 28.1 55.0 16.7 154.40 155.13 160.90 8-74 19.9 20.5 2 0.3 19.7 2 2 .9 17.8 21 .5 24.0 26.1 26*7 2 4 .9 25.8 28.1 3 1 .8 37 .3 5 6.3 57.6 9-74 18.8 19.3 19.0 18.4 21.2 16.4 1 9 .7 21.8 23 .3 2 3 .6 2 1.6 2 2 .0 23.1 2 5 .0 27.1 35.2 26.2 1.1 10-74 19.4 20 .0 19.7 19.2 21.9 17.5 2 0 .6 22. 6 24.1 24.4 22.7 23.1 24.3 26.1 28. i 34.3 28.1 15.4 31.8 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 <—74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 167.12 167.27 171.16 IN IT IA L MONTH WHOLESALE PRICES-FARM PRODUCTS ANO PROCESSED FOODS AND FEED S, SEA S. A D J. ________________________ COMPOUNDED ANNUAL RATES OF CHANGE____________________________ 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 00 i TERMINAL__________________________________________________________________ IN IT IA L MONTH____________________________________________________________________1967 * 100 MONTH 9-74 4-73 7 .6 5-73 30.1 57.2 6-73 44.8 6 8 .0 7-73 15.4 18.1 8-73 70.5 91.3 104.2 117.8 713.1 9-73 39.0 4 6 .3 43.7 33.5 101.9 -4 9 .9 173.8 170.0 148.3 154.0 79.6 161.7 2 .4 -4 1 .7 154.6 184.1 10-73 27.7 31.4 26.8 16.2 46.2 -3 8 .0 -2 3 .3 11-73 22.0 24.2 19.4 10.1 29.0 -3 0 .2 - 1 7 .5 - i l . 4 12-73 20.9 22 .6 18.3 10.4 2 5 .4 -2 1 .4 - 8 .7 - 0 .4 12.0 1-74 25.2 2 7 .4 24.1 17.7 32.3 - 8 .0 7 .1 19.7 39.0 72 .5 2-74 23.3 2 5 .0 21.8 16.1 28.1 - 5 .9 6 .8 16.0 26.8 34 .9 5 .5 178.6 3-74 18.2 19.3 16.0 10.5 19.7 - 9 .0 0 .6 6 .2 11.1 10.8 -11 .2 -2 5 .4 174.3 4-74 14.1 14.7 11.5 6 .3 . 5-74 11.0 11.2 8.1 3.2 6-74 6 .7 6 .6 3.5 -1 .2 7-74 11.3 11.6 8.9 4 .8 10.0 - 8 .3 - 2 .5 0 .1 1.6 0 .2 8-74 16.5 17.1 14.8 11.2 16.6 - 0 .6 5 .8 9 .2 11.8 11.8 9-74 14.0 14.4 12.2 8 .7 13.7 - 2 .3 3 .3 6 .1 8 .0 7 .6 1 .4 0 .9 6 .1 13 .8 25.5 59.2 38.1 -2 0 .7 10-74 16.6 17.1 15.1 12.0 16.9 1.8 7 .5 10.6 12.8 12.9 7.7 8 .0 13.8 22.2 34.0 6 2 .8 49.2 17.6 74.2 3-73 4-73 5-73 6-73 7-73 «-73 9-73 10-73 11-73 12-73 . 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 168.3 169.9 177.8 13.6 -1 1 .2 - 3 .6 0 .1 2 .6 9 .2 -1 2 .6 - 6 .3 -3 .6 - 2 .2 3 .7 -1 5 .6 - 1 0 .6 - 8 .9 - 8 .5 -1 1 .5 -22.6 -2 8 .4 -2 9 .3 - 3 1 .3 -3 8 .5 0 .4 -1 6 .2 - 2 5 .4 - 2 5 .4 170.1 - 4 .9 - 1 8 .0 - 2 4 .6 -2 4 .3 -2 3 .2 - 8 .5 - 1 1 .0 5 .1 5 .0 - 7 .1 0 .0 12.4 24 .5 166.4 159.8 14.1 111.6 170.1 46.3 125.6 140.4 183.0 179.5 188.0 IN IT IA L MONTH P R E P A R E O BY F E D E R A L N O V E M B E R 14, 1 9 7 4 6 RfcSfcRVE B A N K O F TFT L O U I S INDUSTRIAL RATIO PRODUCTION SCALE RATIO SEASONALLY ADJUSTED 1967-100 1966 1967 1968 P E R C E N T A 6 E S ARE ANNUAL LATEST DATA PLO TTE D * R A T ES 1969 1970 OF CHANCE FOR 1971 PE R IO D S SCALE 1967-100 1972 1973 1974 IN D IC A T E D . OCTOBER P R E L I M I N A R Y PR EP A R E O B Y FE D E R A L RESERVE BANK OF ST. L O U IS INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RATES OF CHANGE I u> CD TERMINAL__________________________________________________________________ IN IT IA L MONTH____________________________ ______________ ________________________ 1967 « 100 MONTH 7-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 3-73 4-73 5-73 6-73 124.1 4-73 4 .0 5-73 6 .0 8 .0 6-73 6 .3 7 .5 6 .9 7-73 7 .5 8 .6 9 .0 11.0 124.9 125.6 126.7 8-73 5 .5 5.9 5.2 4 .4 - 1 .9 9-73 5.1 5.3 4 .6 3 .9 0 .5 2 .9 10-73 4 .6 4 .7 4 .1 3 .4 1.0 2 .4 1.9 3.2 3.4 4 .8 127.5 0 .0 -0 .9 -2 .3 126.5 11-73 4 .6 4 .7 4 .2 3 .7 1.9 12-73 3 .0 2 .9 2 .2 1 .4 -0 .4 126.5 126.8 127.0 1-74 1.7 1.4 0.6 - 0 .3 -2 .0 - 2 .1 -3 .3 - 4 .9 -9 .5 - 9 .9 V 125.4 2-74 0 .8 0 .5 - 0 .3 - 1 .2 -2 .8 -3 .0 - 4 .1 - 5 .6 -8 .8 -8 .7 124.6 3-74 0 .8 0.5 - 0 .2 - 1 .0 -2 .4 - 2 .4 - 3 .3 - 4 .3 - 6 .4 -5 .6 - 3 .3 i.o V 4-74 0.9 0 .6 0 .0 - 0 .7 - 1 .9 -1 .9 - 2 .6 - 3 .3 - 4 .8 - 3 .7 - 1 .6 1 .5 1.9 5-74 1.4 1.2 0 .6 0 .1 - 0 .9 -0 .8 - 1 .3 - 1 .7 - 2 .8 - 1 .5 0.7 3 .6 4 .9 8 .0 s 124.7 > 2 .2 % 124.9 125.7 6-74 1.4 1.2 0 .7 0 .2 -0 .8 -0 .7 -1 .1 - 1 .4 - 2 .3 -1 .1 0 .8 2 .9 3 .6 4 .4 7-74 l.l 0 .9 0 .4 -0 .1 - 0 .9 - 0 .9 - 1 .2 - 1 .6 -2 .3 - 1 .4 0 .2 1.7 1.9 1 .9 - l.o - z .e V 8-74 0.9 0 .7 0.2 - 0 .3 - l.l -1 .0 - 1 .4 - 1 .7 - 2 .4 - 1 .5 - 0 .3 1.0 1.0 0 .7 - 1 .6 - 2 .8 9-74 1 .0 0 .9 0 .4 0 .0 -0 .7 - 0 .7 - 0 .9 -1 .2 - 1 .8 - 0 .9 0.2 1.4 1.4 1 .4 - 0 .2 - 0 .6 0 .5 10-74 0 .6 0 .4 0 .0 - 0 .4 - l.l - l.l - 1 .4 - 1 .7 -2 .2 - 1 .5 - 0 .5 0 .4 0 .3 0 .0 - 1 .5 -2 .1 - 1 .9 - 1 .4 -6.5^ 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 3-73 125.8 125.5 - 2 ^ ^ 125.2 3 ?9 \. 12 5 .6P 124.9P IN IT IA L MONTH P- P R E L I M I N A R Y PREPARED NOVEMBER 7 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 15* 1 9 7 4 PE RSONAL RATI O SCALE TRILLIONS MONTHLY OF DOL L A RS I NCOME T O T A L S AT A N N U A L RATES SEASONALLY ADJUSTED RATIO TRILLIONS SCALE OF D O L L A R S 0. 0. 0. SOURCEt PERCENTAGES ARE LATEST PLOTTED. DATA ANNUAL RATES OCTOBER OF CHANCE FOR PERIODS U.S. DEPARTMENT OF COMMERCE INDICATED. PRELIMINARY PREPAREO BY F E D ERAL RESERVE BANK OF ST. LOUIS FErtSo n T C I n c o m e C O M P O U N D E D A N N U A L R A T E S OF C H A N G E _________________________________________________________________ B I L L I O 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 A NNUAL RATES MONTH 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 7-73 8-73 9-73 10-73 11-73 12-73 .1-74 5-73 6-73 3-73 4-73 1 031.7 4-73 8.8 5-73 8.7 6-73 9 .2 9 .4 10.0 7-73 9 .5 9 .8 10.4 10.7 8-73 10.4 10.8 11.5 12.3 13.9 9-73 11.2 11.7 12.5 13.3 14.6 8.7 1 038.9 047.2 1 1 056.1 1 067.6 15.4 080.4 1 10-73 11.3 11.8 12.4 13.0 13.8 13.8 12.2 11-73 11.3 11.6 12.1 12.5 13.0 12.7 11.4 10.6 1 090.8 12-73 10.9 11.2 11,5 11.8 12.0 11.5 10.3 9 .3 8.0 1-74 9 .7 9.8 10.0 10.0 9 .9 9,1 7.6 6.1 3.9 -0.1 2-74 9.5 9 .6 9.7 9 .6 9 .5 8.8 7.5 6 .3 5.0 3.5 7.2 9.1 9 .0 8 .8 8.1 6.9 5 .9 4 .7 3 ,7 5.6 1 100.0 1 107.1 1 107,0 1 113.4 3-74 9.0 9,1 4-74 9.0 9.1 9.1 9 .0 8.8 8.2 7.2 6 .4 5.6 5.0 6 .7 6 .5 9 .1 5-74 9 .2 9 .2 9.3 9 .2 9.1 a .5 7.7 7 .1 6.5 6.2 7.8 8.1 10.1 11.2 6-74 9 .2 9.2 9.3 9 .2 _ 9.1 a .6 7 .9 7 .3 6.9 6 . 7__ 8.1 8 .3 9 .8 10.2 9 .1 7-74 9 .7 9 .8 9 .9 9 .9 9 .8 9 .4 8 .8 8 .5 8.2 8 .3 * 9 .7 10.2 11.8 12.8 13.6 18.1 11. 1 _ 11.6 4.1 1 1 1 7 ,i 1 125.2 1 135.2 1 143.5 I 159.5 8-74 9 .6 9 .7 9.8 9 .7 9 .7 S .3 8.8 8 ,5 8.2 8 .3 9.5 9 .9 11.8 13.1 8.3 9-74 9.8 9 .8 9 .9 9 .9 9.8 9,5 9 .0 8 .8 8.6 8 .6 9.8 10.2 11.2 11.6 11.7 12.6 10.0 11.7 10-74 __9.7 9.8 9 .8 9 .8 9.8 9.5 9 .0 8 .8 8.6 8.7 9.7 10.0 10.9 11.2 11.2 11.7 9.6 10.3 8.9 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 INITIAL I 167.2 I 178.0 1 186.4P MONTH P- P R E L I M I N A R Y P R E P A R E O BY FEOERAL N O V E M B E R 15* 1 9 7 4 8 RESERVE B A N K O F ST. L O U I S RETAIL RATIO SALES SCALE B IL L IO N S RATIO OF D O LLA R S B IL L IO N S SEASONALLY ADJUSTED SCALE OF D O L L A R S 50 150 J 1 10.8ZS\ 1 ry v. 4 — ■ 45 *0. 42 45 , 40 40 +f3. < 35 35 f +3. SX 30 30 */j 25 £ 25 V ccr.'ê ro \\Í (Q/ft* * V Aue^s* iTw ♦i 1966 1967 M 1968 1969 1970 1971 Y'*\ •rs acr.v 1973 1974 1 .............. 1972 20 SOURCE* U.S. DEPARTMENT OP COMMERCE PERCENTAGES ARE ANNUAL RATES Of CHANCE FOR PERIODS INDICATED. LATEST DATA PLOTTED* SEPTEMBER, OCTOBER ADVANCE ESTIMATE PREPARED DY FEDERAL RESERVE DANK OF ST. LOIIIS RETAIL SALES C O M P O U N D E D ANNUAL R ATES OF C H A N G E INITIAL MO N T H M I L L I O N S OF DOLLARS MC.Nt H J- 7 3 4-73 5-73 0-73 7-73 9-73 10-73 11-73 12-73 Ï1-73 I -74 2-74 3-74 4-74 5-74 6-74 7-74 8-74 9-74 41.185 4-73 f - 2 n u 5 V 5-73 -3.Ö 41,723 6-73 - 7 .5 7-73 5.7 16.3 16.0 41.167 - 0 .3 - 1 4 . 9 \ 53.0 <K).4% 42.T67 42.355 8-73 _2.2 8 .8 6.2 I B . 6 -11 * j N 9-73 2 .6 8 ,0 5 .9 13.9 -3 .3 10-73 4.1 8 .9 7,3 13.7 1.9 11-73 3.6 7 .6 6.1 10.9 1.5 12-73 0 .4 3.4 1.6 4 .7 - 3 .6 -•*.7 -3 .8 -1 1 .3 1-74 2 .7 5 .7 '-».4 7.5 0.8 i.J 2 .9 - 0 ,4 .2-74 3.0 5. / ^ .5 7.3 1.5 3.7 3 .4 42.529 42.970 Í. 0 6 .5 42.976 0.2 42.116 - 0 .6 1 \ 25.9 42.932 1.1 1.5 15.4 43.134 43.872 3-74 4 .5 7.1 6.2 8 .9 3.9 3.2 6 .4 5.1 6 .4 17,8 13,9 2 2 .ÌV <♦-74 5.1 7.5 6 .7 <>.2 4 ,8 6 .9 7.2 6 .2 7.5 16.2 13.2 17.1 *5-74 5 .9 ö •3 / •6 9.9 6 .0 1.1 8.5 7 .8 9.1 16,6 1^*3.. 17.3 .. 14.8 „1 7 . ^ V ............ ...... ...... . _SLi.iL. ___11,6 r*L -B.4 10 . 5 10.1 12.1 9.2 7.7 10-74 7.b 5 .J 3-73 4-73 8 .5 5 .3 5-73 6-73 7-73 6.7 4,3 I 8 ,0 20 . 1 21 ,2__59_._2 11.1 11. 7 11,5 12. 9 18.1 17.0 19.0 18.3 20.0 20.7 3 8 .1 8.3 7.9 6. 7 12.7 11,2 11.9 10,3 10.0 6,1 13.9 7.2 6 .8 7 .<* 1 0.8 9.2 9-7 8.0 7.3 5.3 8.9 9-73 10-73 11-73 12-7 3 1-74 2-74 3-74 4-74 5-74 6-74 8-73 I N ITIAL 9.5 — 44,894 ___ 44,i S93_ 10,5 . 12. 1 44.283 ____ 1 0 . 9 — LQa.6__ U ^ O __ L L& 9 __ 16*6___18 . 9 7.1 6.S + i1qV i O /© D . i _1± A 6 .9 5. 7 11. ö X . --- --- -7.8 46»356 47.056 -3.7 -¿¿>5, % t e ? . -4,1 -14,1 -4.9Ï 7-74 9-74 8-74 45.8766 month P- PKr L I MI NA ¿Y c___ P R EP A RE D «V FED ER A L N O V E M B E R 13# 197 4 RFSFkVE B A N K OF ST. L O U I S COMPENSATION PER MAN-HOUR» TOTAL PR IV A TE ECONOMY _________COMPOUNDED ANNUAL RATES OF CHANGE__________ - I Ì 6 7 » 100, . I f l U LAI^JQUARIfLft-. TERMINAL QUARTER 4-49 1-70 2-70 3-70 4-70 1-71 2-71___3-71 4-71___ 1,-72 ¿“ 72 ?~U ii?2 1-7? 2-7? 3-7? ,*r7?--- 1~7* 2r7i... A- 2 121.3 2-70 6.6 7. 1 123.4 3-70 7*4 8- 1 9.0 4-70 6.B 7.0 6.9 4.a 1-71 7.0 7.2 7.2 ¿.3 1-70 126.1 127.6 7.7 ....1 3 0 . 0 132.0 2 -7 1 6.9 7.0 7.0 6*3 7* 0 3 — 71 7.0 7. 1 7*1 6*7 7*3 7*0 7*8 4-71 6.6 6.7 6.6 6*1 6*4 6.0 5*8 3.9 1-7? 6.4 7.0 7.0 6.7 7*1 fc.9 7. 1 6.8 2-72 6.9 7.0 6.9 6*6 6.9 6 . ft 6.9 6.6 8. 0 6.2 i-7? 6-7 4-7 6.7 4-4 6.6 6.5 6.5 6.2 6.9 5.5 4.9 7.1 6.2 6.2 7.5 6.3 139.0 9.8 141.1 1*2.8 6 - ft ¿.ft 6-5 6.7 6.6 6.7 7-2 7-3 7- 3 7-2 7.4 7. 4 7.5 7.5 8.2 7«_ft 8.4 10.2 13.0 2-7* 7-1 7.2 7.2 7.1 7. 3 7*2 7. 3 7.3 7.8 7.5 7.8 8.8 9.4 6.0 *-7* 7.0 7-1 7-1 6-9 7.1 7.1 7.2 7.1 7.5 7.2 7.4 8.0 8.2 5.8 7-2 7-0 7.2 7.2 7*3 7.2 7.6 7.3 7.5 8.0 ... 6.8 7 .1 7-0 7. 2 7.1 7.2 7*1 7.5 7.2 7. 4 7.8 7.8 6.6 7.5 7. 6 7.5 7*7 7*7 7*8 7.8 8.2 8.0 8.2 8.7 8.9 8.1 3 —74 7.6 7.7 7.7 7.7 7. 7 *9 8.0 8.0 8.4 8.2 8.5 8.9 2-70 3-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 1 O' <0 -4 O 7-1 7-5 *1 154.2 JL57.3 7.0 7-1 4-70 5.6 6.6 1-74 , 9.1. . 4-72 m * 9 .. 152.1 8.2 2-7 4 ft .. 145.4 ¿-ft 7-2 159*8 7.4 6.5 9.6 10.3 14.2 165.2 8.5 9.0 9.9 10.4 12.4 10.6 1- 7 3 2-73 3-73 4-73 1-74 2-74 2-73 3-73 4-73 1-74 2-74 169.4P INITIAL Q U A R T E R P- P R E L I M I N A R Y OUTPUT PER MAN-HOUR. TOTAL PRIVATE ECONOMY ______ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E ..IliLIlAL QUARTER ..IJEEMiaAL QUARTER 4-69 I-Ttt .... Irli ....2r7.1__ 3~71 2~7Q 4-71___ L-Z2 2-72 -1361.« 1903^11 4-72 1-73 JLQ-2.9 2r7,Q 103*8 3-JO,.,. 105*7 nr iw 1- 7 1 ... 3 . 6 2-71 3*3 4.2 4.3 3.3 2.2sS s M . 4 % 3-71 3.4 4.1 4.2 3.4 3.0 3.7s 4 t Z.1. .JL*1 ...1 * 9 .A*_Q 3.3 3.0 3. 4 370s 4*7 5. 0 3.8 107.7 108.3 109.3 1-7 2 3.4 4.0 4.0 3.4 3.2 3.6 3.5 2-72 3*6 4.1 4.2 3.7 3.7 4.1 4.2 _...3r22_ ... 3 . 6 110.1 111.2 4.6 5.5s 112.7 4.1 4. 1 3.7 3.7 4*0 4.0 4.4 4.5 3.6s 4-72 3. 8 4.2 4.3 3.9 3*9 4.2 4.3 4*6 4.8 4*5 5.4s 4.4 4*1 ... 4 . 2 4.5 4*6 5.0 5.2 5.1 5.9 3.6 3.6 3.8 3.8 3.9 3.9 3.5 3.4 2.4 2*4 2.1 1.0 113.7 115.2 I 4.4 1 3.6 3.9 3-73 3.2 3.5 3*5 3. 2 3*0 3. 1 3. 1 3.1 2.9 .4=7.1 . 3.0 3.3 3*3 2.9 2.8 2*8 2.7 2.7 2.5 2.0 1.7 1-74 2*4 2.6 2. 5 2.2 1.9 1.9 1. 7 1 *6 1*3 0.7 0.2 2-74 2.3 2*5 2*5 2* 1 1.9 1.8 1*7 1.5 1 .3 0.8 0.4 -0.5 -1*8 ... 3 t 7 4 2-0 2*2 2.1 1*8 1. 5 1*4 1.2 1.0 0 *8 0*2 -0.2 -0.9 4-69 1-70 2-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 _ a Q... 1 * 4.0 0 1 m 1-73 ...2-73 .A 117.0 v . 116.6 -1.5 -1.7 0.8 -1.0 -0.9 -0.8 -2.6 -3.0 1-73 116.1 O.O^V -3.6 116.1 - 7 . 0 V . 114.0 -1.9 -1.9 -2.9 -2.3 -2.4 -3.2 -1.2 -3.8\ 114.4 2-73 3-73 4-73 1-74 2-74 113.3P INITIAL QUARTER P - PRELIM INARY . 134.5 1-7* 7-1 „ 135.8 4 — 72 4 -7 * __ PREPAREO BY FEDERAL RESERVE BANK OF ST . LO U IS OCTOBER 31. 1974 10 _ _ PRODUCTIVITY, COMPENSATION, AND LABOR COSTS RATIO SCALE 1967-100 RATI O SCALE 1967-100 SEASONALLY ADJUSTED SOURCE« U.S. DEC, PERCENTAGES a r e ANNUAL RATES OF CHAN6E FOR PERIOOS IN0ICATE0. LATEST DATA PLOTTED« 3RD QUARTER PRELIMINARY UNIT L A B O R COSTS, TOTAL PRIVATE ECONOMY QUARTER 4-69 1-70 7. 5 2-70 5. 4 3-70 ...,+t l 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 117.9 3.4^"V. 118.9 -2 4-69 1-70 119.3 2-70 — 3-70 4-70 1-Î 1 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 INITIAL Q U A RTER 2-74 ^ P- P R E L I M I N A R Y PR E P A R E O BY F E O E R A L O C T O B E R 31. 1 9 7 4 RtSE^VF. B A N K OF S T* L O U I S G R O S S N A T I O N A L P R O D U C T IN C U R R E N T O O L l A R S CO M P O U N D E D ANNUAL RA T E S OF CHAN G E " B I L L I O N S OF DOLLARS •ANNUAL R A T E S 2-74 INITIAL QUARTER TERMINAL nraffnnr 4-69 1-70 2-70 3-70 4-70 1-71 2-7i 3-7 1 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 4,1 970.6 3-70 987.4 991.8 4-69 Ï— 70 2=?0 3-70 4-7Ö FTÏ 2^ 7 1 10,1 10.2 10.0 10.0 10.0 9.6 8.7 8.5 8.1 7.1 H Ï 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 INITIAL QUARTER G R O S S N A T I O N A L P R O D U C T IN C Q N 5 T X N T " 1 9 5 * O O L L A R S C O M P O U N D E D A N N U A L R A T E S OF C H A N G E BtLLtÖWÖT" DOLLARS ANNUAL RATES INITIAL QUARTER QUARTER -0.8 4-70 3-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 1-73 4-72 2-73 3-73 4-73 1-74 2-74 721.2 722.1 0.5 727.2 u> i o 2-70 1-70 0.4 1.7 2.9 r -j o -2.1 1 o 4-69 1-70 -0.8 -0.4 -0.8 1-71 1 .3 2.2 2.7 2-71 1.6 2.3 2.8 2.7 6.4 3-71 1.7 2.4 2.8 2.8 5.2 2.8 2 . 8 \ 4- 71 2.3 3.0 3.4 3.5 5.5 4.0 4.6 1-72 2.8 3.4 3.8 4.0 5. 7 4.6 5.2 -4.3 719.3 f 736.9 10.2 742.1 747.2 6^ + 6 . 7 % 759.1 6.4 770.9 6 . 4 >s\ 786.6 2-72 3.3 3.9 4.4 4.6 6.1 5.4 6.0 7.1 7.4 8.4 3-72 3.5 4.1 4.5 4.8 6.1 5.5 6.0 6.8 6.9 7.2 6. 0 s 4-72 3.9 4.5 4.9 5.2 0 .4 5.9 6.4 7.1 7.3 7.6 7.1 798.1 814.2 8.3s ^ 832.8 1-73 4.4 4.9 5.3 5.6 6.7 6. 3 6.8 7.5 7.7 8.0 7.9 8.9 2-73 4.2 4.7 5.1 5.3 6.3 5.8 6.2 6.7 6.8 6.8 6.5 6.6 5.8 3-73 4.0 4.5 4.8 5.0 5.8 5.4 5. 7 6.1 6.0 6.0 5.5 5.4 4.4 1.9 1.6 ^ 4-73 3.9 4.3 4.6 4.8 5.5 5.1 5.4 5.7 5.6 5.4 4.9 4.7 3.9 2.1 2.0 1-74 3.2 3.6 3.8 3.9 4.5 4.1 4.2 4.3 4.1 3.8 3.2 2.7 1.6 -0.3 -1.1 -2.4 - 7 . 0 \ 2-74 3.0 3.3 3.5 3.5 4.1 3.6 3.7 3.8 3.5 3.2 2.5 2.1 1.1 -0.5 -1.2 -2.2 -4.4 -1.6 3-74 2 .7 3.0 3.1 3 .1 3.6 3. 2 3.2 3.3 3. 0 2.6 2.0 1.5 0.6 -0.8 -1.4 -2.2 -3.6 -1.9 -2.n 2-70 3-70 4-70 1-71 2-71 3- T i 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 4-69 1-70' ......... . . """ ..... \ 837.4 840.8 -0.8% 2 > 845.7 V 830.5 827.1 822.7 INITIAL QUARTER P R E P A R E D BY F E D E R A L R E S E R V E N O V E M B E R 15« 1 9 7 4 12 B A N K O F ST. L O U I S DEMAND RATIO SCALE TRILLIONS Q UAR TE RL Y OF D O L L A R S AND P R O D U C T I O N TOTALS AT ANNUAL RATIO RATES SEASONALLY ADJUSTED TRILLIONS OF SCALE DOLLARS 1 1. 1. 0 . 0 . 0 . 0 . 0 . 1966 ILGNP 1967 1968 1969 1970 IN CURRENT DOLLARS. 1971 1972 SOURCE« U . S . 1973 1974 DEPARTMENT OF COMMERCE 12.6NP IN 1 9 5 6 DOLLARS. PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIO DS I N D IC A T E D . LATEST DATA PLOTTED« 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . 13 L O U IS GENERAL RATIO PRICE INDEX* S CA L E RATIO SCALE ---------- — I— —i------- 1— — I-------UL---------- — —— ---------- u — -------- ------- L - J 105 1966 1967 1968 1969 1970 1971 1972 1973 1974 «AS USED IN NATIONAL INCONE ACCOUNTS SOURCE« U.S. OEPARTNENT OF CONNERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED« 3RD QUARTER PREPARED 8Y FEDERAL RESERVE SANK OF ST. LOUIS IM P L IC I T P R TC F~D E FLA TO R FOR" GROSS N A T IO N A L PRODUCT ___________ COMPOUNDED ANNUAL R A TES OF CHANGE_____________ IN I T I A L 4 -6 9 1 -7 0 6 .3 2 -7 0 5 .5 1 -7 0 1 O T E R M IN A L Q UARTER 3 -7 0 4 -7 0 1 -7 1 2 -7 1 3 -7 1 4 -7 1 1958 * QUARTER 2 -7 2 1 -7 2 3 -7 2 4 -7 2 1 -7 3 2 -7 3 3 -7 3 4 -7 3 1 -7 4 100 2 -7 4 1 3 2 .9 1 1 3 4 .4 1 1 3 5 .7 7 3 -7 0 5 .0 4 .3 4 -7 0 5 .3 5 .0 5 .2 1 3 7 .^ 8 1 -7 1 5 .2 4 .9 5 .1 5 .5 2 -7 1 5 .2 4 .9 5 .0 5 .3 4 .8 4 .8 \ 1 3 9 .4 7 3 -7 1 4 .8 4 .5 4 .5 4 .6 4 .0 3 .7 1 2 .6 4 -7 1 4 .4 4 .1 4 .1 4 .1 3 .5 3 .1 2 .2 ^ , 1 4 2 .7 0 1 -7 2 4 .5 4 .3 4 .3 4 .3 3 .9 3 .7 3 .3 3 .7 5 . 5 V 1 4 4 .6 2 1 4 1 .1 3 1 4 2 .0 3 1 4 5 .3 1 2 -7 2 4 .3 4 .0 4 .0 4 .0 3 .6 3 .3 3 .0 3 .1 3 .T 3 -7 2 4 .2 4 .0 3 .9 3 .9 3 .5 3 .3 3 .0 3 .1 3 .6 2 .6 4 -7 2 4 .2 4 .0 3 .9 3 .9 3 .6 3 .4 3 .2 3 .3 3 .7 3 .1 1 4 6 .5 0 1 4 7 .9 6 1 -7 3 4 .3 4 .1 4 .1 4 .1 3 .8 3 .7 3 .5 3 .7 4 .0 3 .7 3 .7 . 4 .3 2 -7 3 4 .5 4 .3 4 .3 4 .3 4 .1 4 .1 4 .0 4 .2 4 .6 4 .4 5 .0 5 .6 6 .4 7 .3 3 -7 3 4 .7 4 .6 4 .6 4 .7 4 .5 4 .5 4 .5 4 .7 5 .1 5 .0 5 .7 6 .3 7 .0 7 .8 8 .3 4 -7 3 5 .0 4 .9 5 .5 6 .2 6 .7 7 .4 8 .1 8 .5 4 .9 5 .0 b• 8 4 .9 4 .9 5 .1 5 .5 . . .. ‘ 4 .8 1 1 4 9 .9 5 1 5 2 .6 1 1 5 5 .6 7 1 5 8 .9 3 8 .6 ^ 1 6 3 .6 1 1 -7 4 5 .4 5 .3 5 .4 5 .5 5 .4 5 .5 5 .5 5 .8 6 .3 6 .4 7 .0 7 .6 8 .4 9 .1 9 .7 1 0 .5 2 -7 4 5 .6 5 .6 5 .6 5 .7 5 .7 5 .8 5 .8 6 .1 6 .6 6 .7 7 .3 7 .9 8 .5 9 .2 9 .6 1 0 .1 1 0 .8 3 -7 4 5 .9 5 .9 6 .0 6 .1 6 .1 6 .2 6 .3 6 .6 7 .0 7 .2 7 .8 8 .4 9 .0 9 .6 1 0 .1 1 0 .5 1 1 .1 1 0 .6 ll.8 \ 4 -6 9 1 -7 Ô 2 -7 Ô 3 -fO 1- 7 1 2 -n 3 -7 1 4 -7 1 - i- 7 2 2 -7 2 3 -7 2 4 -7 2 1 -7 3 2 -7 3 3 -7 3 4 -7 3 1 -7 4 2 -7 4 ..... " IN IT IA L 1 6 7 .3 1 9 .4 s 1 7 2 .0 4 QUARTER PREPA RED'BY FEDERAL RESERVE BANK OF ST . LO U IS NOVEMBER 15« 1974 14 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 C U R R E N T D O L L A R S ___________C O M P O U N D E D A N N U A L R A T E S OF C H A N G E _____________ TERMINAL QUARTER B I L L I O N S OF DOLLARS ANNUAL RATES INITIAL QUA R T E R 4-69 1-70 2-70 3-70 4-70 1 -71 2*71 1-70 7.0 2-70 6.7 6.4 3-70 6.6 6.4 6.5 4-70 5. 7 5. 3 4.7 3.0 1 -7 i 7. 5 7.6 8. 0 8. 8 14.9 7.8 8.3 u.o 7. 3 7.5 7.8 9.4 6.8 6.2 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 604.6 614.0 623« 7 628.3 650.5 2-71 7.5 7.5 3-71 7.3 7.3 4-71 7.3 7.3 7.4 7.6 8. 8 6.9 6.7 7. 1 1-72 7.6 7.7 7.9 8.2 9. 2 7.8 8.0 8.9 2-72 8.0 8.1 8.3 8. 6 9.6 8.5 8 .8 3-72 B.l 8 .2 8.4 8.7 9.5 8. 7 8.9 4-72 8.4 8.5 8.7 9.0 9.8 9. 1 9.4 1-73 8.8 8.9 9.2 9,5 10 . 2 9.6 662.1 672.1 683.8 10.8 701.5 9.7 11.1 720.6 9.6 10.5 10.3 9.3 10.0 10.7 10.7 10.4 11.5 10,0 10. 6 11.3 1 1.4 11.5 12.6 13.6 1 1.3 736.8 757.2 781.7 799.0 2-73 8«d 9.0 9.2 9.4 10.1 9.6 9.9 10.4 10.9 11 . 0 10.9 11.4 11.3 9.2 3-73 8. 8 9.0 9.2 9.4 10.0 9. 5 9.8 10. 2 10.7 10.6 10.5 10. 8 10.5 9.0 8.9 4-73 8.5 8.6 8.8 8. 9 9.5 9.0 9.1 9.5 9.8 9.6 9 .3 9.4 8.8 7 .3 6.3 3.8 616.3 823.9 1-74 8.5 8.6 8. 7 8.9 9.4 8.9 9.1 9.4 9.6 9.5 9.2 9. 2 8.7 7.5 7.0 6.0 8.4 2-74 8.8 8.9 9.1 9.3 9.7 9.3 9.5 9*8 10.1 10.0 9.8 9.9 9.6 8.8 8.8 8 .7 11,3 14.3 3-74 9.2 9.3 9.5 9.6 10.1 9. 8 10.0 10.3 10.6 10.5 10.5 10.6 10.5 10.0 10 « 1 10.4 12.7 15.0 15.7 4-69 t-70 T-7Ö 3-70 4 - 7 0 “i - f 1 2~7l 3^7 1 4-71 1-72 3-72 4 -12 1-73 2-73 3-73 4-73 1-74 2-74 _iZir 840.6 869.1 901.3 INITIAL QUARTER P E R S O N A L Cuf 58 D O L L A R S COMPOUNDED TERMINAL QUARTER A N N U A L R A T E S OF C H A N G E B IL L IO N S OF DOLLARS ANNUAL RATES I N I T I A L »Q U A R T E R 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 i-70 1.8 2-70 2.3 2.7 3-70 2.5 2.8 2.9 4-70 l.l 0. 9 0.0 -2.8 1-71 3. 0 3.3 3.5 3.9 11.0 2-7 1 3. 0 3. 3 3.4 3.6 6.9 3.1 3-71 3.1 3.3 3.4 3.5 5.7 3.1 3.2 4-71 3.3 3.5 3. 7 3.8 5.6 3.8 4.2 5.2 1-7 2 3.7 4.0 4.2 4.4 5. 9 4.6 5.2 6.2 7.1 2-72 4. 2 4.5 4.7 4.9 6. 3 5. 4 6.0 6.9 7.7 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 474.3 477.5 480.9 477.5 490.1 493.8 497.7 504.1 512.8 8.4 523.2 3-72 4.4 4.6 4.9 5.1 6.3 5.5 6.0 6.7 7.2 7.3 6.3 4-72 4.7 5. 0 5. 2 5.5 6. 6 5.9 6.4 7.1 7.6 7 .7 7.4 8.5 1- 7 3 5.0 5.2 5.5 5.7 6.7 6.2 6.7 7.3 7.7 7 .8 7.6 8.3 8.1 2-73 4. 7 4.9 5.1 5.3 6.1 5.6 5.9 6.3 6.5 6 .3 5.8 5.7 4.3 0.6 3-73 4.4 4.6 4. 8 4.9 5.6 5.1 5. 4 5.6 5.7 5.5 4.9 4.6 3.3 0.9 1. 2 4-73 3.7 3.8 3.9 4.0 4.6 4.0 4.1 4.2 4.1 3.7 2.9 2.3 0.8 -1.6 -2.7 -6.4 1-74 3.2 3.3 3.3 3.4 3.8 3.3 3.3 3.3 3.1 2.6 1.8 1.1 -0.4 -2.4 -3.4 -5.6 -4.7 2-74 3.1 3. 2 3.3 3.3 3. 7 3. 2 3.2 3. 2 3.0 2.6 1.8 1.2 0.1 -1.5 -2.0 -3.0 -1.3 2.2 3-74 3.2 3.2 3.3 3.3 3.7 3.2 3. 2 3. 2 3.0 2.6 2.0 1.5 0. 5 -0.7 -0.9 -1.5 0.2 2.8 3.4 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3- 7 2 4-72 1-73 2-73 3-73 4-73 1-74 2-74 531.2 542.2 552.9 553.7 555.4 546.3 539.7 542.7 547.2 INITIAL Q UARTER P R E P A R E D BY F E D E R A L N O V E M B E R 15, 1 9 7 4 15 RESERVE BANK OF ST. L O U I S G R O S S P R I V A T E D O M E S T I C I N V E S T M E N T IN C U R R E N T D O L L A R S ____________ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E _____________ TERMINAL QüiRTEft 4-69 1-70 2-70 - 13.2 2-70 -3.6 7.1 3-70 1.3 9.4 11. 7 4-70 -0.4 4.3 3. 0 -5.1 1 -7 1 5.0 10.1 11.2 10.9 29.6 2-7 1 1-71 4-70 3-70 1-70 3- 7 1 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 133.1 135.4 139.2 137.4 146.6 2-71 7 .6 12.4 13.7 14.4 25.6 21.8 3-71 6.3 10.0 10.6 10.3 15.9 9.6 -1.3 4-71 8.0 11.4 12.1 12.2 17.0 13.1 9.0 20.4 154.0 153.5 160.8 9.6 12.8 13. 7 14.0 18.2 15. 6 13.6 21.8 23.2 1 0.1 13.1 13.8 14.2 17,7 15.5 14.0 19 . 6 19.1 15.2 3-72 10.6 13.4 14«. 1 14 . 4 17*5 15.6 14. 3 18 . 6 18 . 0 15«6 15.9 4-72 11.3 13.9 14*6 14.9 17.7 16.0 15.1 18.7 18.3 16.7 17 . 5 19.0 1-73 11.9 14.3 15.0 15.4 17.9 16.5 15.8 18*9 18. 6 17 . 5 18.2 19,4 19.8 2-73 1 2 .0 14. 2 14.8 15.1 17.4 i6a 15,4 . 1 8 . 0 16.3 3-73 -U.7 13.8 -14. 3 14.5 16.5 15*2 14.5 16.7 1-72 B I L L I O N S OF DOLLARS ANNUAL RATES INITIAL QUARTER 169.4 CM 1 175.5 182.1 190.2 199.0 17. 6 16.5 16.9 17.2 16 a 2L 15,0 15^0 1 4 . 8 .JLi*_4_ 17.5 .1T-B 18. 2 12.8 _m « 205.1 3 1*8 209.0 18 .0 17.4 19.8 5.8 4-73 13.0 15.0 15.5 15.8 17.8 1 6, 8 16.3 18. 4 18.2 1-74 1 0 .5 12.1 12.5 12. 5 14.0 12*8 12 . 0 13,5 .-12.7.. 11.5 11*0 10.1 8.5 2-74 1 0 .0 11.6 11 . 8 11*8 1 3,2 12,0 11,2 12* 4 U. 6 10.4 9.9 9.0 7.4 5.1 3-74 8 .8 10. 2 10.4 10.3 11.4 10.2 9,3 10.3 9.4 8.1 7.3 6.3 4.6 2.3 0.3. 4-69 1-70 2-70 3-70 4-70 1 -71 2-71 3-7 1 4- 7 1 1-72 2-72 3-72 4-72 1-73 2-73 33.1 224.5 1.4 - 2 2 . 7 3,5 210.5 1.8 - 1 1 . 0 2a 5 211.8 -1,5-10.9 -4.4 -10.9 3-73 1-74 4-73 205.8 2-74 INITIAL QUARTER 6K0 S S'~P'K'l VAT E '"DDH’ ES T I C ~ r W V 1E S TM E N T I NTT O N S T S N T I ? 5 F ~PaiT A R S COMPOUNDED ANNUAL RATES OF CHANGE ---- ----------------------------------------------------------------------------- --------------------------------------------------- BILLIWI5 OF TERMINAL INITIAL QUARTERDOLLARS TKJATT i T ff--------------------------------------------------------------------------------------------- ---------- -------------------------------- ------------- ANNUAL" R Ä T E S ___________ 4 - 6 9 1- 70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2 - 7 4 ___________ . 1-70 - 1 6 . 7 _______________________________________________________________ ■ ______________________________ ________ ’ ________________________________________________1 0 2 * 6 2-70 -7,1 _______ ____________ _____________________________________________________________ 1 0 3 . 5 3.6 3-70 -2.55.5 7 . 5 ___________________ _________ ___________ _ _____________________ ____________ 4-70 -4.9-0.6 -2.7 -11.9 1-71 0.45.2 5.7 4.8 2 4 . 7 _____________ _________________________ ______ ___________ ___________ 2-71 2 . 7 7.1 8.0 8.2 19.9 15.3 3-71 1.3 4 . 7 4.9 4.3 10 . 3 3.7 4-71 3.46.6 7.2 7. 1 12.4 8.6 5.4 19.1 1-72 4.87.9 8.5 8.7 13.3 10. 7 9. 2 18 . 0 2-72 5.68.5 9.1 9.3 13 . 3 11. 2 10.2 16 . 5 15.2 13.4 _______________________ . 3-72 6.28. 8 9.4 9.6 13. 1 11.2 10.5 15.2 13.9 12.4 1 1 . 5 ______________________ . 4-72 6.89.3 9.8 10 . 1 13.2 11. 7 11 . 1 15. 0 14.0 13.0 12.9 _ ________ ___________ ' ___________________________ 1 0 5 . 4 ____________________________ ____ ________________________ ___ ______________________________________ _________ ________ . 102« 1 _______ ___________ __________________________ 107.9 ___________ _______________ __________________ __________________________________1 1 1 * 8 - 6 . 6 _____________________________ _____________ _________ _____________ ____ __________ __________________ _____________________ _________________ ________ _______ __________________________ 17. 0 ________________________________ _______________________ _____________ ___________________ 109.9 114.8 119.4 ____________ __________ ____________________________1 2 3 * 2 ............................ ....... 1 2 6 - 6 1 4 w 3 ________________________________________________ ___________ _______ 1 3 0 , 9 1-73 7.1 9 . 4 10.0 10. 2 13.0 11.6 11.1 14 , 4 13.4 i 2.6 1 2.3 12.7 2-73 7 . 0 9.1 9.6 9.8 12.3 10 . 9 10.4 13.1 12.1 ¿1.2 10.6 10.3 11.1_______________________________ _ _ _ _ ________________ 1 3 * « * 8.4 5.8 ___________ ________ ___________________________ 1 3 6 . 3 3-73 6.58.3 8.7 6.8 10.9 9.6 9.0 11.2 10.1 9.0 8 .1 7.3 5.0 2.1 -1.5 4-73 7.99.8 10.3 10.5 12.6 11.6 11.2 13 . 4 12.7 12.1 11.9 12.0 11.4 11.5 14.4 32.9 _______________________ ;_________ 1 3 5 . 8 ____________________ 1 * 5 . 8 1- 7 4 5.26 . 8 7.0 6.9 8.6 7.3 6.6 8.0 6.9 5.7 4.6 3.5 1.5 -0.8 -2.9 -3.6 -30.1 __________________________ 1 3 3 . 3 2-74 4.45.8 5.9 5.8 7.2 6.0 5. 2 6.4 5.2 4.0 2.8 1.7 -0.3 -2.4 -4.4 -5.4 -20.1 - 8 . 7 ____________________ 1 3 0 . 3 3-74 2.84.1 4.1 3.9 5.0 3.7 2.9 3.7 2.4 1.1 -0.2 -1.6 -3.6 -5.9 -8.1 - 9 . 6 - 2 0 . 5 - 1 5 . 3 - 2 1 . 4 ____________ 1 2 2 . 7 4-6~9 " T - 70 Z-Tü 3-70 4 - 70 1-71 "2=71 3-71 4-7 r r = T2~ T-~72 iNTrm W A W f t — 3-72 4-' 7 F 1-73 ?-T ? 3-73 4=73 1-74» 2-74 — PREPARED gV FEPETTAL-KESEftVg BAM ÛF ST. L Ö U l T N O V E M B E R 15, 1 9 7 4 1 6 ___________________________ G a V F T W H E N T ' T U R C T U S E S OF COMPOUNDED ______________ 1-70 6.1 2-70 3.1 0.2 3.9 2.9 5.6 4— 70 4.3 3.8 5.6 5.6 1-71 5.2 4.9 6.6 7.0 8.5 2-71 5.3 5.2 6.4 6.7 7.3 3-71 5.7 5.6 6.7 7.0 4-71 6.4 6.4 7.5 7.8 1-72 7.4 7.5 8. 6 9.1 9.8 2-72 7.1 7.2 8.1 8.4 8.9 1 O 1 * l o T E R M I N A L _____________________________________ ___________ OUARTER 4-69 1-70 2-70 3-70 1-71 G O O D 5 " A N D S E R V I C E S IN C U R R E N T D O L L A R S A N NUAL RA T E S OF C H A N G F _________________ _____ _ : ' ...... I N I T I A L Q U A R T E R ________ __________________________________ 2-71 3-71 4-71 1-72 2-72 1-73 2-73 3-73 4-73 I- 7 4 2-74 217.3 220.3 223.3 227.9 6.1 231.3 7.5 7.0 7.8 235.7 8.4 8.4 9.6 10.2 11.6 9.0 3-72 6.6 6.6 7.4 7.6 7.9 7.8 7.1 7.1 7.9 8.1 8.4 8.4 1-73 7.3 7.4 8.1 8.3 8.6 8.6 8.4 2-73 7.2 7.3 7.9 8.2 3-73 7.1 7.2 7.7 7.9 8.4 8.1 8.1 8.6 8 . 7 9.7 242.1 11.3 13.5 15.7 10.4 9.9 8.2 8.2 8.8 9 . 0 9.0 9.2 251.1 253.8 4.4 7.2 3.2 2.1 8.5 6.2 7.1 8.8 7.1 8.1 11.2 10. 1 8.7 8.8 8.3 8.4 8.9 9.0 8.0 8.8 8.4 8.3 6.5 8.5 7.3 6.0 5.4 7.8 8.4 9.7 9.1 8.7 9.8 9.1 9.4 9.6 9.4 8.6 9.3 9.3 9.6 9.7 9.6 8.9 9.5 8.3 8.4 8.9 9.1 9.4 9.4 9.7 9.8 9.7 9.1 9.7 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-74 273.3 9.6 7.2 9.3 8.1 269.0 7.7 8.3 2-74 262.6 7.0 9.1 7.7 255.1 12.3 6.7 8.2 8 . 4 8.6 8.8 8.8 9 . 0 7.6 8.0 8.1 1-74 4-72 217.2 4-72 4-73 3-72 _________ B I L L I O N S OF D O L L A R S ____ ANNUAL RATES 276.9 286.4 14.4 10.1 10.1 11.4 14.5 14.6 10.6 10.6 10.3 10.4 11.4 13.5 13.0 10.4 10.5 11.3 12.8 12. 2 11.1 10.8 3-72 4-72 1-73 2-73 3-73 10.5 4-73 296.3 304.4 il.4 1-74 312.3 2-74 INITIAL QUARTER GOVERNMENT P U R C H A S E S OF G O O O S AND S E R V I C E S IN C O N S T A N T T 9 5 8 C O M P O U N D E D ANNUAL RA T E S OF C H A N G E DOLLARS bill ions TERMINAL QUARTER INITIAL QUARTER annual 4-69 1-70 1-70 -6.2 2-70 -7.5 -8.7 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 of DOLLARS 3-72 4-72 1-73 2-73 3-73 4-73 1-74 rates 2-74 142.3 139.1 3-70 -6.0 -6.0 -3.1 4-70 -4.7 -4.2 -1.9 —0.6 1-71 -3.9 -3.4 -1.5 -0.7 -0.9 2-71 -3.3 -2.7 -1.2 -0.5 -0.4 3-71 -2.0 -1.2 0.3 1.2 1.8 3.2 4-71 -0.7 0.1 1.7 2.7 3.5 5.0 1-72 -0.2 0.5 1.9 2.8 3.5 4.6 8.6 6.2 6.0 2-72 -0.2 0.5 1.7 2.4 2.9 3.6 4.6 3.9 1.7 -0.1 138.0 137.8 137.5 0.0 137.5 6.6 139.7 7.6 142.6 3.4 143.8 0.0 143.8 3-72 -0.7 0.9 1.4 1.6 2.1 2.5 1.5 -0.7 -2.8 -5.4 4-72 -0.4 0.2 1.1 1.6 1.9 2.3 2.6 1.9 0.3 -0.7 -1.1 3.4 143.0 1-73 -0.1 0.4 1.3 1.7 2.0 2.4 2.7 0.3 3.3 144.1 2-73 -0.1 0.3 0.1 2.0 1.3 -0.6 3-73 -0.2 0.3 1.3 0.7 -0.6 -0.6 1.9 1.5 2.5 5.7 3.2 4-73 1-74 2-74 3-74 0.2 0.2 0.2 0.2 4-69 0.6 0.6 0.6 0.6 1-70 1.1 1.0 1.4 1.3 1.7 1.3 1.6 1.2 1.1 2-70 1.5 1.5 1.4 3-70 2.0 2 . 3 1.5 1.8 2.0 1.9 2.1 2 . 3 1.8 2.0 2.2 1.6 1.8 2.0 1.5 1.7 1.8 1.7 4-70 1-71 2.1 0.8 0 . 2 1.7 0.6 0.1 1.4 1.9 0.4 1.1 1.1 -0.0 -0.1 0.8 0.9 0.8 0.9 0.6 0.7 2.2 2.0 1.6 0.6 1.4 2-72 3-72 1.8 1.6 0.9 1.5 0.8 0.6 2-71 ' 3-71 4-71 141.8 1-72 3.1 143.9 1.7 1.3 2.0 1.3 0.9 1.3 1.2 0.8 4-72 1-73 1.1 2-73 143.7 145.7 0.8 2.0 0.1 1.5 0.2 3-73 4-73 146.0 -0.5 145.8 -0.1 0.3 1-74 2-74 145.9 INITIAL QUARTER PREPAREO BY FEDERAL RE SERVE BANK OF S t . LOU I S NOVEMBER 15. 1974 17 D ISP O S A B I F » « S ONÄ L INCOME IN CURRENT DOLLARS _ -C M g g 5 _AIN U A l RATES QF CHARGE T E Ä * fW QUAKET* ----- — B IL L IO N S OF IN IT IA L QUARTF« _________ ___ ______________________________________________ POLL ARS ANNUAL RATES , 4-TI 1-72 2-72 3-72 4-72 l - 7 3 _ 2 - 7 3 3-73 »-73 1-74 2-74___________________ _______________________________ l - T g_2_-7fl_ .1,-70 »-6 9 -LrTO 7 .6 2“ ? Ö 10.3 4—70 I t -TL _ 2 r7| H l ________ ______________ ____________________ ____ _________________________ ________________ ___ _______________________________ __ __________ 13 .0 ...................... ........................... ..... ...... - J f c i a ---- 9*5-- 1 0 .5 B .s _____ _________ _ _ ___ _ ..... . _ _ _ _ __... _ _ ------- _ 7 .9 5 .4 2»>_____________ ________ _____ __ 1-71 8 .7 9 ,9 7 .7 7 .6 12.7 ___ '____________ __________________________ ____________________________ __________ ___ ________________ 2-71 8 .8 9 .0 8 .0 8 .0 10.7 _ ......... ............ ---------------- ----- ---- ------------------ ------ 702.4___ 7 .8 8.8 ______ 668.2 ........................... ................. .............................................. 689.0 ...... ......................................... . ___________ _________ 707.2 728.6 ___________________ __________________________________ 744.1 3-71 8.Q 8.1 T .2 7 .0 8 .4 6 .3 3 .9 4-71 T .8 T .8 6 .9 6 .7 7 .7 6 .1 4^6 1-72 7 .7 7 .7 6 .9 6 .7 7 .6 6 .3 ____ 5 ,5 ____6*2_________________ _______ _______ __________________________________ ____________________________ *74.7 2-72 7 .7 7 .7 7 .1 6 .9 7 .7 6*7____ 6*2____ k*5 ___ 2 * 5 ____ «*1_______ ______________________ ___________________________ _____________________ 790.0___ 3-72 7 .8 7 .9 7 .3 7 .2 7 .9 7.1 8 .6 8 .2 8 .2 ____ 8*9____ftal___________ 9t 4^7i 8 .5 ________ ___ _________________________________ ________ _________ 751.3 5*7.................... 6 .7 7 .4 8 .0 i I M .................... • _________________________________ ______________________ 761.8 8 .6 ____ 9 . 0 ______________________________________________________ _____________ 807.2 i i i * ....t e t l_______________________ ________________________________________ 63.6,1..... ..l U L 1-73 9 .1 9*2 8^8 8 .9 9 .6 9 .2 ____9 « J 10.2 11.2 12.2 13^6 16 ,0 15.8 _______________________________ ___ ____ 869.5___ 2-73 9 .2 Q .3 9 .0 9 .1 9 .7 9 .4 10.3 11.1 11.9 12 .9 16.3 13.3 10.8_____________________________________ _______ ■ , ! ? l a l ___ \l±* \U\ IQ t? 9 .5 llA . - ± 2 3 _____1 * 1 . .....i a i . — 2 a l____2*2___ -2*2___ 1&A - l la il ..ll tf e 9 .5 9 .3 9 .4 9 .9 \UQ 9 .7 ____?.mg_ X lx l - L I x l 9 .4 1-7 4 9a \,„. 9j[2____________________2*J5____9*3____9*3____Sj>^__ 1CU3.... 1018 2-74 9 .0 9.1 M 8 .9 9 .3 9 .1 9.1 J f c l i ______ 9 . 1 9 .2 9 .0 9 .0 9 .5 9 .3 9 . 1 ____ 3 « I — 4 -6 9 1 -7 0 2 -7 0 3 -7 0 4 -7 0 1 -7 1 — “ 9 .6 2 -7 1 3 -7 1 * 10.0 4 -7 1 IN IT IA L O n s r o SlB C K 1U * "PE R S O N A L ,l 11 « ? 10.6 10.8 I I 10.3 t e i l ..- U . lO.t.1--------------------------------------------------------U l t ? — U 9Z 4-73 L i. . J L f iil- I f l« * 1 -7 2 2 -7 2 3 -7 2 jf b * ... 1 U A - ______________________________? ü ± 4 _ ..._________________ 10.0 8 .8 « t f i ____ S j l 2 8 .3 ____ i *1 -------------------- 95.0^6-- 7 .7 ____5*9____ ±¿9________________SÄJbJL— 1 Q .« 1 _____2 a i _____?.* 0 ........6 _ .7_ _ _ 7 . 7 _____ ? » L H a » ____ _____ 6 -7 2 2 -7 4 1 -7 3 2 -7 3 3 -7 3 4 -7 3 1 -7 4 O U ARTFR IH C OM E I N CONSTANT 1958 D O LLAR S -------- ---------- ---------------------------------------------------------------------------- ---------- mnöNS ÖF C O M PO U N D ED ANNUAL T E R H I N A L ________________________________________________ _______________________________ I N I T I A L Q UARTER 4 -6 9 1 2 -7 0 3 -7 0 1 -7 0 2 .3 2 -7 0 5 .7 3 -7 0 5 .3 4 .4 4 -7 0 3 .1 0 .6 -3 .1 4 -7 0 1 -7 1 2 -7 1 3 -7 1 4 -7 1 1 -7 2 RATES OF CHANGE Q U A R T E R ______________________ ________________________________________________________D O L L A R S ■ AHW DAL 2 -7 2 3 -7 2 4 -7 2 1 -7 3 2 -7 3 3 -7 3 4 -7 3 1 -7 4 5 2 4 .2 5 3 5 .8 5 4 1 .6 5 3 7 .4 1 -7 1 4 .2 3 .2 2 .7 8 .8 2 -7 1 4 .3 3 .6 3 .3 6 .6 4 .5 3 -7 1 3 .8 3 .1 2 .7 4 .7 2 .8 1 .1 4 -7 1 3 .8 3 .2 2 .9 4 .5 3 .1 2 .4 3 .8 1 -7 2 3 .7 3 .2 3 .0 4 .3 3 .2 2 .7 3 .6 2 -7 2 3 .9 3 .5 3 .3 4 .4 3 .6 3 .4 4 .1 4 .3 5 .3 3 -7 2 4 .1 3 .7 3 .7 4 .7 4 .0 3 .9 4 .6 4 .8 5 .6 5 .f 4 -7 2 4 .8 4 .6 4 .7 5 .7 5 .2 9 .4 * .2 6 .9 8 .1 9 .5 1 3 .1 1 -7 3 5 .2 5 .1 5 .2 6*2 5 .9 6 .1 6 .9 7 .6 8 .6 9 .8 1 1 .7 1 0 .4 2 -7 3 3 .0 4 .9 4 .9 5 .8 5 .4 9 .5 6 .2 6 .6 7 .3 7 .8 8 .4 6 .1 2 .0 3 -7 3 4 .8 4 .7 4 .7 5*1 5 .2 5*7 6 .0 6 .4 6 .7 6 .? 4 .9 2 .2 2 .3 4 -7 3 4 .6 4 .4 4 .4 5 .0 4 .7 4 .7 5 .1 5 .3 5 .6 5 .7 5 .6 3 .8 1 .7 1 .5 1 -7 4 3 .8 3 .5 3 .5 4 .0 3 .6 3 .5 3 .8 3 .8 3 .8 3 .6 3 .2 1 .4 -0 .8 -1 .7 -3 .7 -7 .8 2 -7 4 3*3 3 .0 2 .9 3 .4 3 .0 2 .8 3 .0 2 .9 2 .9 2 .6 2 .1 0 .4 - 1 .5 -2 .4 -3 .9 -6 .1 - 4 .4 3 -7 4 3 .1 2 .8 2 .7 3 .1 2 .7 2 .6 2 .7 2 .6 2 .5 2 .2 1 .8 0 .3 -W 3 -2 .0 - 3 .0 -4 .3 -2 .4 -0 .4 2 -7 0 3 -7 0 4 -7 0 1 -7 1 2 -7 1 3 —7 1 4 -7 1 1 -7 2 2 -7 2 3 -7 2 4 -7 2 1 -7 3 2 -7 3 3 -7 3 4 -7 3 1 -7 4 2 -7 4 4 -6 9 R Ä TE5' 2 -7 4 I 5 4 8 .8 5 5 4 .9 5 5 6 .4 5 6 1 .6 3 .3 5 6 6 .2 5 7 3 .6 18 5 8 1 .9 6 0 0 .1 6 1 5 .1 6 1 8 .2 6 2 1 .6 6 2 2 .9 0 .7 6 1 0 .3 6 0 3 .5 m ffa w IY FlOtHAL R lSi W U K K NOVEHM* ISt 197* 6 0 2 .9 OP ST. LOtm CORPORATÇ PROFITA AFTFB TAXES * f (IMPOUNDED A N N U A L P A T F S OF C H A N G E TCRMINAL OM*PTPQ »-6*» - 1 - 7 0 1-70 -11.« 2-70 -12.0 -12.1 3-70 4-70 . -6.9 2-70 J-70 »-70 1^71 2- 7 1 3-7 1 »-7 1 l-72_ 2-72 ?-72 4-72 1-73 2-73 3-73 *-73 1-7» 2-7» »0.8 -».» 39.5 39.9 ».1 -12.« -13.2 -13.7 -28.» 36.7 1-7* -0.6 If. 5 7. 8 9.B 68.3 ?-71 sto ft.7 _ I».7 1B.» 52.» 37.9 3-7 1 7,1 10.7 15.9 19. 0 »1.0 29.1 9 .7 1 1. 9 ______♦— 71 B I L L I O N S OP DOLLARS A N N U A L ftATFS INITIAL 0ÜARTPR »1.8 »5.3 »7.5 20.9 16.5 19.2 35.» 26.0 20.» 19.9 1-72 11. 1».» 18.B 21.» 35.0 27.8 2».5 26.» 33.3 »9.7 2-72 1 1.8 l».ft IB.7 21.0 3 2.1 25.8 23.0 23.7 25.6 3-72 12 . 6 15.» 19.0 21.0 30.» 25.0 22.5 22.9 2».0 19.6 20.8 4-7? 1» . » 17.2 20.6 22.6 31.1 26.5 2». 7 25.5 27.0 2».9 28.3 36.3 1-73 17.7 20.6 2». 1 26.3 3». 5 30.8 29.8 31.3 33.8 33.9 39.5 49.9 6».9 2-73 1 7 . «5 20.1 23.3 25.2 32.» 28.9 27.8 28. B 30.» 29.8 32.9 37.1 37.5 1». 7 3-73 15.8 18.0 20.7 22.3 28.3 2». 9 23.5 23.9 2». 5 23.1 24.0 24.8 21.2 ».0 -5.8 »-73 I»..ft 16.9 19. 3 20.5 25.9 22.6 21.2 21.2 21.» 19.7 20.0 19.8 16.0 3.2 -2.2 1 .7 1-7» 17.» 19.5 22.0 23.» 28.6 2 5. B 2».7 25-1 25.7 24.8 25.8 26.6 2». 8 16.» 16.9 30.3 3.» 55.7 18.» 58.» 63.1 71.5 7».0 72.9 73.2 66.9 83.2 2-74 16.3 IB.2 20.» 21.6 26.3 23.5 22.» 22.6 22.8 21.7 22.1 22.3 20.1 12.8 12.3 19.1 28.9 -0.5 3-7» 1ft. 7 20.6 22.9 2».2 28.6 26.» 25.4 25^9 26.5 25.9 26*7 27.5 26.3 20.8 22.0 30.2 »1.» 30.1 70.1 »-69 1-70 2-70 3-70 »-70 1-71 2-7 1 3 -71 »-71 1-72 2-72 3-72 »-72 1-73 2-73 3-73 »-73 1-7» 2-7» B3.1 9».9P INITIAL QUART*» * NATIONAL ÎNrpM* BASIS P- O R P L T M T N A P V P R E P A R E D BY P CD EPAL P E S E R VE N O V E M B E R 18. 19 7 » B A N K O P ST. L O U I S SOURCES OF DATA National Income and Product Accounts Data Source: U.S. Department of Commerce, Bureau of Economic Analysis Historical Data Sources: 1970-73: Survey of Current Business, July 1974 1968-69: Survey of Current Business^ July 1972 1966-67: Survey of Current Business, July 1970 1964-65: Survey of Current Business, July 1968 1929-63: The National Income and Product Accounts of the United States, 1929-65. Statistical Tables (available from any U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402). 19 Ratio Scale Billiois of Dollars The Trend of Output Ratio Scale Billions of Dollars data for the 1/1947 - 11/1971 period. The coefficient (.0092 is the estimate of the trend rate of increase of output for the period. The line has been extrapolated beyond 11/1971. [_2 Gross National Product at 1958 prices. 20
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