View PDF

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

nRTionnL

E c o n o mt ircc i i d s

PREPARED B FEDERAL RESERVE BANK OF S . LOUIS
Y
T

MONTH ENDING; October 31, 1975

RELEASED: November 28, 1975

The pace of economic activity continues to advance quite briskly.
Production, employment, and income all rose In October as they have done, on balance,
since last April. Prices also advanced at a relatively fast clip last month, although
the GNP deflator suggests that inflation has moderated to rates far less than in 1973
and 1974.
Industrial production has increased at a 12.4 percent annual rate since
April, compared to a 12 percent decline in the previous year. The recent surge of
industrial production was especially strong for consumer durables, which accounted for
about 14 percent of the increase since April.
The employment picture is strong, contrary to the impression conveyed by the
historically high unemployment rate and the reported rise in unemployment in October.
Payroll employment has increased at a 2.7 percent annual rate since April, compared to
a 2.4 percent decline in the previous year. Even though employment relative to labor
force appears low, when compared to population of labor force age, employment is higher
than in most of the period 1955-1969 (see table).
AVERAGE FOR PERIODS INDICATED________

Ï775
to
III/75

1970
to
1974

1965
to
1969

Ï96Ô
to
1964

1955
to
1959

Employment as a
Percent of Popu­
lation of Labor
Force Age

63.1

64.2

63.7

61.4

61.6

Employment as a
Percent of Labor
Force 2/

91.5

94.6

96.2

94.3

95.0

1 /

1/

1 )

Civilian employment (age 16-64) as a percent of civilian noninstitutional population (age 16-64).
Civilian employment (age 16 and over) as a percent of civilian labor
force (age 16 and over).

Buoyed by the rise of employment, personal income has risen at a 13.3
percent annual rate since April. In the year prior to April, personal Income rose only
6.9 percent.
The current price picture appears to be somewhat mixed. Recently, the fixed
weight measures of prices (consumer and wholesale prices) have advanced more rapidly
than the GNP deflator, which is based on variable weights. During periods when some
prices move up relative to others, the fixed weight procedure biases the indexes upward
as consumers shift purchases from those items whose prices are rising more rapidly
toward those items whose prices are rising more slowly. As a result, the rise in the
GNP deflator at a 4.9 percent rate since early in the year is probably a more accurate
indication of current price trends than the 7.4 percent rate of increase in consumer
prices from April to October.



TOTAL C IV IL IA N EMPLOYMENT
COMPOUNOFO ANNUAL PATES OF CHANGE
THOUSANOS
OF PERSONS

TERMINAL
MONTH
3-74

4-74

5-74

6-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

2-75

3-75

4-75

5-75

6-75

7-75

8-75

9-75
35,787

4-74

0.1

5-74

2 .0

3 .9

6-74

1.4

2 .1

0 .4

7-74

2.2

2 .9

2.4

4 .5

8-74

1.4

1.7

1.0

1.3

-1 .8

9-74

1.5

1.7

1.2

1.5

- 0 .0

86,062
86,088
86.403
86,274
86,402

1.8

10-74

1.1

1.2

0 .7

0 .8

- 0 .5

0 .2

- 1 .4

11-74

-0 .2

- 0 .2

- 0 .9

- 1 .1

- 2 .5

- 2 .7

- 4 ,9

r ^ r
- 8 .2

12-74

- 0 .9

- 1 .0

- 1 .7

- 2 .0

- 3 .3

-3 .7

- 5 .4

- 7 .4

- 6 .6 ^ - 6 . 7 %

1-75

- 1 .7

- 1 .9

- 2 .6

- 3 .0

-4 .2

-4 .7

- 6 .3

-7 .8

-7 .6

-8 .7

2-75

- 2 .2

- 2 .5

-3 .1

- 3 .6

- 4 .7

- 5 .1

-6 .5

- 7 .7

-7 .5

- 8 .0

-7 .3

3-75

- 2 .2

- 2 .5

-3 .1

-3 .5

- 4 .4

- 5 .0

- 2 .5

83.049

- 1 .8

- 2 .0

-2 .5

- 2 .8

- 3 .6

-3 .8

- 4 .6

1-6.7 I -6 .3
\
I
-5 .1
- 4 .4

-6 .2

4->5

-3 .9

-2 .2

0 .4

84.086

-5 .8

86,304
85,689
85»2Q2__
84,562
84,027

5-75

- 1 .4

- 1 .5

-1 .9

-2 .1

- 2 .8

- 2 .9

-3 .5

- 3 .7

- 3 .0

- 2 .2

-0 .6

1.8

4 .0

4 .6 \

6-75

- 1 .2

- 1 .3

- 1 .7

- 1 .9

- 2 .5

- 2 .5

- 3 .0

- 3 .2

-2 .5

- 1 .8

-0 .3

1.5

2 .9

2 .6

7-75

- 0 .6

- 0 .7

- 1 .0

- l.l

- 1 .5

- 1 .5

- 1 .8

- 1 .9

- l.l

- 0 .2

1.2

3 .0

4 .5

4 .8

4 .9

9 .4 X

8-75

-0 .4

-0 .4

-0 .7

- 0 .7

- 1 .1

-1.1

- 1 .3

- 1 .3

- 0 .5

0 .3

1.6

3 .2

4 .4

4 .6

4 .6

6 .6

9-75

- 0 .3

- 0 ,3

- 0 .6

- 0 ,6

- l.o

-0 ,9

- l.l

- l.l

-0 .4

0 .3

1.5

2 .9

3.8

3 .8

3 .7

4 .7

2 .4

0 .9 ^

10-75

-0 .2

- 0 .3

-0 .5

- 0 .6

- 0 .9

-0.8

- 1 .0

- 1 .0

- 0 .3

0 .3

1.4

2 .5

1 3 .3 1 3 .2

3 ,0

3 ,6

1,7

0 .6

3-74

4-74

5-74

6-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

2-75

5-75

6-75

7-75

8-75

3-75

4-75

84.402
84.444
85.078
85.352
85.418
0 .3 ^ \

85.441

9-75

PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES Of CHANGE
IN IT IA L MONTH

TERMINAL

"WSnTh--3—
74
4-74

4-74

5-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

2-7S

3-75

4-75

5-75

6-73

7-73

fl-75

9-75

78,331

1,9

2.1

1.5

1 .4

0 .7

1.5

6-74

6-74

1*8

THOUSANOS
Of PERSONS

1 .5

1.3

78.486
78,330
78,648
1.6

1.3

78,733

IN IT IA L MONTH
P- PRELIMINARY




PRÉPARED BY FEDERAL »ESERV E SANK OF ST . LOUIS
NOVEMBER 7 , 1975

2




EMPLOYMENT
RATIO SCALE

RAT I 0 SCALE
M IL L I O N S OF PERSONS

M IL L I O N S OF PERSONS

SEASONALLY ADJUSTED

M M C It

rctecMTAccs a m m m m i iatii •r c n m k î n p u i h i
L A T C IT »A T A f l f T T C i t

tC T ttC R

i . t . M f A lT ë C ü T O f I M M

imicah*.

M C L ia iN A t Y
P M P A JtC I SY F C tC K A L I C K R V E tAMK # f * T .

IQ V IS

UNEMPLOYMENT RATES*
SEASONALLY ADJUSTED

PERCENT

1967

1968

1969

1970

1971

1972

1973
S tM C ft

■PCBCfMT #f CIVILIAN LAtOK f W C f
LATItT M Ì A PLtTTCIi N T H C I I

PERCENT

0 .1 .

1974

1975

M f A H T IlC N T O f U M f t

1« «fttVP
f U fA id

3

I t F U C M l «CtfftVE I M K I f

ST. I N I S

CONSUMER f t IC E INDEX, SEASONALLY A53USTEO
CONEOUNOEP ANNUAL RATES OF CHANCE,
TERMINAL
MONTH
4-74

1967 « 100

IN IT IA L MONTH
3-74

4-74

5-74

6-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

2-75

3-75

4-75

5-75

6-75

7-75

8-75

9-75
144,00

8.1

145,47

5-74

10.5

13,0

6-74

10.9

12.3

11.6

7-74

10.8

11.7

11.1

146,81
10.5

148,04
149.74

8-74

11.6

12.4

12.3

12.6

14.7

9- 74

12.1

12.9

12.9

13.4

14.8

15*0

10-74

12.0

12.7

12.6

12.9

13.6

13.1

11-74

12.0

12.5

12.5

12.6

13.2

12.7

151.49
152.85

11.3
11.7

154,27

\

155,48

12-74

11.7

12 .2

12.1

12.2

12.5

11.9

11.0

10.6

1-75

11.4

11.7

11.6

11.6

11.7

11.1

10.2

9 .8

8.9

8 .0

2-75

10.9

11.2

11.0

10.9

11.0

10.4

9 .5

9.1

8.2

7 .4

6 .8

3-75

10.3

10.5

10.2

10.1

10.0

9 .4

8 .5

7 .9

7 .0

6 .0

5 .0

3 .3

4-75

10.0

10.2

10.0

9 ,8

9 .7

9,1

8 ,3

7*8

7 .0

6 .4

5.8

5 .3

7 .4

5-75

9.6

9 .7

9.5

9 .3

9.2

8.6

7.8

7 ,3

6 .6

6 ,0

5 .4

5 .0

5 .8

4 .3 ^ ^

159.27

6-75

9 .6

9 .7

9 .5

9 .3

9 .2

8 .7

8.0

7 .6

7 ,0

6 .6

6 ,3

6 .1

7,1

7 ,0

9 ,7

160.50

9.8

j

156.48
157.34
157.77
158.71

162.35

7-75

9 .9

10.1

9 .9

9 .7

9.7

9 .2

8 .7

8 .4

« .0

7 .7

7.6

7 ,8

9 ,0

9 ,5

12,2

14,7

8-75

9 .5

9 .5

9.3

9 .2

9.1

8.6

8.0

7.7

7.3

7 .0

6 .8

6 .8

7 ,5

7 ,6

8,7

8,2

2 0

9-75

9.2

9 .3

9.1

8.9

8.8

8 .4

7.8

7 .5

7.1

6 .8

6 .7

6 .7

7,2

7 .2

7 .9

7,3

3 .8

5 ,7 ^ ^

163.37

10-75

9.2

9 .3

9.0

8.9

8 .8

8.4

7 .9

7.6

7 .2

7 .0

6 .8

6 .8

7 ,4

7,4

8 ,0

7 .5

5.2

6 .9

164.44

3-74

4-74

5-74

6-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

2-75

3-75

4-75

5-75

6-75

7-75

8-75

162.62

8,1 ^
9-75

IN tT IA L MONTH

PREPARED BY FEDERAL RESERVE BANK OF ST . LOUIS
NOVEMBER 20. 1975
WHOLESALE T R IC E S - ALC~ COWMOTFTriE5"t SEASONALLY ABJU5TED—
COMPOUNOED ANNUAL RATES OF CHANGE
TERMINAL
MONTH---3-74

IN IT IA L MONTH
4-74

5-74

4-74

16.9
11.0

7 .7

8-74

9-74 10-74 11-74 12-74

1-75

2-75

3-75

4-75

5-75

6-75

7-75

8-75

9-75

15.7

6-74

7-74

18.1

5-74

6-74

0 .2

152.84
154.71
154.74

7-74

21.5

2 2 .7

26.3

59.2

8-74

27.6

30.1

35.3

57.2

9-74

22.4

23 .3

25.3

34.9

24.2

- 0 .6

10-74

24.9

26.1

28 .3

36 .4

29.6

18.4

5=7*

5^75

S~-T5

T^T^T"8-75“




160.85
55.2
166.77
41.0

171.61

b-T^ ~ 7 - r5 ~ 8-75

$-75

I ffT T T l L ' MONT H

1>RE?WFD BY FEDERAL R E S E W E FANfT*OP ITTTTfiO TS
NOVEMBER 6 , 1975




RATIO

PRICES

S CAL E

RATIO

SCALE

FERCEIJTAOES ARI ANNUAL RATES Of CHANM FOR FERIOOS IN » 1CA T E I .
LA TEST »A TA PLOTTER. OCTOOER
PREPAREO tY FEOERAL RESERVE SANK OF S T . LOUIS

ratio

scale

WHOLESALE PRICES

ratio

scale

PERCENTAOES ARE ANNUAL RATES f f CHANCE FOR FERIOOS IN DICA TES.
LATEST »A TA F L O T T E ». OCTOOER
FREFAREO OY FfOERAL RESERVE SANK OF S T . LOO IS

5

H ffULESAL"b W n C ES ~ - IN'DC TRT A L " COMHODI TTF ST T EVSONAL I Y
JS
COMPOUNDED ANNUAL RATES OF CHANGE

ADJUSTED
1967 *

IN IT IA L MONTH

TERMINAL
HUNTH
3-74
4-74

34.8

5-74

6-74

7-74

8-74

1-75

9-74 10-74 11-74 12-74

2-75

3-75

4-75

5-75

6-75

7-75

8-75

9-75
146.05

35.5

5-74

4-74

100

34.0

149.66
152.97

6-74

33.2

3 2 .0

30 .0

7-74

35.0

3 4 .8

35.2

4 0 .6

8-74

34*8

34.6

34.8

37.2

33.8

9-74

30.8

2 9 .8

28.8

28.4

22.7

12.4

10-74

29.0

27 .9

26.8

26.0

21.4

15.6

18.0

11-74

26.5

25.3

23.8

22.6

18.5

13.8

JL4.5

10.3

12-74

23.9

2 2.5

20.9

19.5

15.6

11.5

11.1

7 .4

1 4. 7

157.38
161.25
162.83
1 6 5 .2 0 _
_
166.55___
167.19
168.07

1-75

22.0

2 0 .6

19.0

17.5

14.0

10.5

10.0

7.1

5 .6

6 .5 s

2-75

20.3

18.9

17.3

15.9

12.7

9.5

8 .9

6 .6

5 .4

5.7

4 .9

1-75

18.6

17.2

15.6

14.1

11.2

8.3

7.6

5 .5

4 .3

4.2

3 .0

168.74
168.90

1.1
s£ 6 %

169.06

4-75

17.2

15.8

14.2

12.8

10.0

7.4

6 .6

4 .7

3 .7

3 .4

2 .4

1.1

l.l

5-75

16.0

14.6

13.2

11.7

9.2

6 .8

6 .1

4 .3

3.4

3.1

2 .3

1.5

1.6

2 .1 ^ ^

169.35

6-75

15.2

13.9

12.5

11.1

8.8

6 .5

5.9

4 .4

3 .6

3 .4

2 .8

2 .3

2 .6

3 .4

4 .7 ^ s ^

170.00

7-75

14.6

13.3

12.0

10.7

8.5

6 .4

5.9

4 .5

3.8

3 .7

3 .2

2 .9

3.3

4 .0

5 .0

5 .4

170.74

8-75

14.2

13.0

11.7

10.5

8 .4

6 .6

6 .0

4 .8

4 .2

4.2

3 .9

3.7 __ 4 .2

5 .0

6 .0

6 .6

9-75

13.9

12.7

11.5

10.4

8.5

6 .7

6 .3

5.2

4 .7

4 .7

4 .5

4 .4

5 .0

5 .7

6 .7

7 .3

8.3

8 .8

10-75

14.0

12.9

11.7

10.7

8 .9

7.3

6 .9

6 .0

ED

5.7

5 .6

5 .7

6.4_

7.3____ 8.4 _ 9 .3
_

10.7

12.1

9-7 4 10-74 I T —
74 12-74

1—
75

2-75

7-75

a-75~ 9-75

3-74

4-74

5—
74

6—
74

7-74 ^ 7 4 "

1

.

171.82
173.03
15.5 |

175.12___

j

T R IT IA 1

3-75

4-75

5-75

6-75

HONTH

WHOlTSALE“ PinTES-TARM PRODUCTS ANO PROCESSED TTTOOS AND R FEO S,'TET S.~ A D J.
COMPOUNOEO ANNUAL RATES OF CHANGE
IN IT IA L MONTH

TERMINAL
MONTH
3-74

4-74

5-74

6-74

7-74

8-74

9-74 10-74 11-74 12-74

1-75

1967 * 100
2-75

3-75

4-75

5-75

6-75

7-75

8-75

9-75

4-74

-14.2

5-74

-18.1 - 2 1 .9

168.2

6-74

-29.6 -3 6 .2 -4 7 .9

159.3

1 71.7___

7-74

-2 .6

1.6

15.9 158.1

8-74

9 .9

17.0

33.8 114.5

9-74

6.3

11.0

21.1

10-74

14.6

2 0 .3

31.1

65.2

42.3

27.2

80.0

11-74

18.2

23.7

33.6

61 .3

43.4

33.4

62.4

46 .6

194.4

12-74

10.3

13.8

20.1

38.1

21.9

10.8

18.8

- 3 .5 -3 6 .4

187.2

60.5

172.4___
78.2

180.9

26.5 -10.1

179.3
1 8 8 .3 _
_

1-75

6 .0

8 .5

13.0

2 6.2

12.1

2.1

5.5 -11 .8 -3 1 .5 -26.3________

2-75

1.6

3 .4

6 .6

16.6

4 .1

- 4 .8

-3 .7 -17.6 -3 2 .0 -2 9 .8 -33.0

176.5

3-75

- 0 .7

0 .6

3.2

11.4

0 .3

-7 .6

- 7 .2 -18 .7 -2 9 .9 -2 7 .6 -2 8 .2 -2 3 .0

172.7

182.5

4-75

3.8

5 .4

8 .3

16.6

6 .7

0.1

1.6

- 7 .6 -15 .8

-9 .6

-3 .2

16.3

75.6

5-75

4 .0

5 .6

8.3

15.7

6 .8

0.9

2 .4

- 5 .6 -1 2 .3

- 6 .4

- 0 .7

13.3

37 .4

6-75

2 .6

3 .9

6 .2

12.7

4 .6

- 0 .9

0 .2

- 6 .8 -1 2 .7

- 8 .0

- 3 .8

5 .4

17.0

*4« 6 -1 5 .3

7-75

5 .9

7 .4

9.9

16.4

8 .9

4 .2

5 .7

- 0 .4

- 5 .0

0.6

5 .9

16.1

28.6

15.9

20.3

70.9

8-75

5.0

6 .4

8.6

14.4

7.5

3 .0

4 .3

- 1 .2

- 5 .4

- 0 .6

3 .7

11.5

20.1

9 .2

9 .8

25.0

9-75

6.3

7 .6

9 .8

15.4

9 .0

4 .9

6 .3

1.3

- 2 .3

2 .4

6 .7

14.1

21.8

13.2

14.7

26.8

9 .3

30.7

10-75

7.1

8 .4

10.5

15.8

9 .8

6.1

7.4

2 .9

- 0 .3

4 .2

8.3

15.1

21.8

14.6

16.1

25.6

13.4

26.3

22.1

9-74 10-74 11-74 12-74

1-75

2-75

3-75

4-75

5-75

6-75

8 -7 5

9 -T 5 "

5 -T 4 ‘ "

4 -7 4

5-74




-& -T 4

“7 - 7 4 “

8 -7 4

181.0
7.5

182.1
179.6
187.8
-8 .6

7 = 7 5

186.4

{N IT IA l MGn TH

W E P A R E D "BVT FD ER A L RESERVE
NOVEMBER 6 , 1975

6

190.6
193.8

Industrial Production
l a t t i $C«U

R a ti* S < iU

Pr«por*d by F«<férol It M r v t Bonk of St. Louis

IN D USTRIA I PROOUCTION
COMPOUNDED ANNUAL RATES OF CHANGE
1 N 1 JIIL MONTH.

y u o fiâ L #ITH
4-74

5-74

6-7 4

7-74^

8-74

9 - 74

10-74 11-74

12-74

1-75

-lft^T « 100
2-Ti

3>75

4-M

S-75

6^73

7-75___ fl-7.1 , 2r75 -

JeiTlJb li-

124 >9

a.o.

4 .9

-12.5,7 .

-làJb___ _______ U Ì L
-Zzli.

J U 2 ____ U<?

1 2 5 .8

-UQ

-.125,5-

-Za,

9-74

1 .4

1 .4

- 0 .2

- 0 .6

0 .*

10-74

0 .1

- 0 .2

- 1 .7

- 2 .4

- 2 .2 :

9

11-74

- Î.6

- 4 .4

- 6 .3

- 7 .6

—S . B >
—

12—
T4__

- 7-7

- B .9

- l'.l

1 2 5 .6
- 7 .4 ^

12 4 . P

7 - 1 7 .2

-26. 1

- 1 2 .9 - 1 4 . B -

5 - 2 3 .1

- 3 0 .7 - 3 5 . 1 \

- 1 1 . § - 1 4 .0 —15^9 - 1 7 .9 -

6 - 2 5 .8

- 3 1 .1

1-75

- 1 0 .5

2-75

- 1 1 . B - 1 5 .0 - 1 5 .1 - 1 6 . 9 - 1 8 .7 -

3-75

- 1 1 . B - 1 2 .9 - 1 4 .8

- 1 6 .4 - 1 7 .9 -

4-75

- 1 1 .0 —1 2 .0 - 1 3 .6 - 1 5 .0 - 1 6 .2 -

5-75

- 1 0 .1

- 1 1 .0 —Î 2 .4 - 1 3 .5

6-75

- B .Ô

- 9 .5

7-75

- 7 .6

- 8 .2

- 9 .3

B—75

- 6 .1

- 6 .6

- 7 .5

- 1 4 .5 -

- 1 0 .fi - 1 1 .7 - 1 2 .4 - 1 0 .0 - 1 0 .6 -

- 2 5 .3

121-7

- 3 3 .5

- 2 9 .3 - 3 0 .3

9 - 2 3 ^ 1 - 2 6 .1 - 2 6 .2

—

22.5%

1 1 7 .4

- 3 lÌ* ^ V

1 1 1 .7

- 2 7 .a - 2 3 .4 s

111.2

- 2 2 .9 —1 B .0 - U t
•

11 f>.r>

B - 2 0 .5 f 2 2 . d - 2 1 .7 - 1 8 .0 - 1 2 .7
r ,7 .3
7 - 1 7 . 9 - 1 9 .3 - 1 8 .2 - 1 4 .3
- 9 .2

- 6 i,P
-3,.9

0 .5

2 .2

4 - 1 5 .1

-8. 1

- 8 .5

9 - 1 0 .0

1 0 9 .9
1t n . i

—5 .4

- 0 .3

4 .1

6 .7

, 1

- 7 .5

- 2 .6

2,, 2

6 .1

8 .6

1 2 .0

12. 6 ^ .

112.7

i
l

9 .0

1 1 .6

1 4 .9

1 6 .7

2 1 .0

î 14.0

1 3 .a

- 1 6 .0 - 1 4 .5 - 1 0 .4

3 - 1 2 .7 - 1 3 .2 - 1 1 .5

- 1 ^ ^ —

- 1 0 .3

- 8 .3

- 4 .3

0 .5

5i

^

111.1

9—75

- 4 .7

- 5 .1

- 5 .B

- 6 .3

- 6 .5

B

- 7 .6

- 7 .7

- 5 .6

- 1 .6

3 .0

7i,5

1 1 .2

1 7 .0

1 8.8

2 2.1

- 4 .2

- 4 .5

- 5 .2

- 5 .6

- 5 .8

0

- 6 .7

— . 7
6

- 4 .7

- 0 .9

3 .3

7,

1 0 .3 Ï 1 2 . 4 l

1 4 .5

1 5 .3

U .?

1 3 .9

3-74

4-74

5-74

6 -74

7-74

4

9-74

10-74 11-74

12-74

1-75

2- 75

3-75

5-75

6-75

7-75

8-75

1 1 a . ftp

2 3 .2

10-75

4-75

5 ^

1 Ife.Çf»

9-75

IN IT IA L MONTH
PRELIM INARY




PREPAREO BY FEOERAL R6SF«VF BANK OF ST . LOUIS
NOVEMBER 17 . 1975

PERSONAL
RATIO SCALE

m o n t h ly

TR ILLIO N S OF DOLLARS

to ta ls

INCOME

at

annual

RATIO SCALE

ra tes

TR ILLIO N S OF DOLLARS

SEASONALLY ADJUSTED

0 .9

0.8
0.7

0.6

0 .5
SO UR CE«
PER C EN TA GES

ARE

LA TEST

P LO TTE D «

DATA

ANNUAL

R A TES

0CT08EH

OF

CHANCE

FOR

P E R IO D S

U .S .

D E P A R TM E N T

OF

COM M ERCE

IN D IC A T E D .

P R E L I n IN A R Y
prepared

by

fed er al

reserve

SANK

OF

S T.

L O U IS

PERSONAL INCOME
IN IT IA L

TERMINAL

B IL L IO N S OF
DOLLARS
ANNUAL RÄT

MONTH

m o n th

?-74
4-74
5—74
6-74
7- 7 4
<3-?4
9-74
10- 74
11- 74
12- 74

4-74

5-74

6- 74

7-74

8- 74

9-74

10 - 7 4 I 1- 74 1 2 - 7 4

1- 7 5

2- 75

3- 75

4-75

6-75

5-75

7-75

3- 75

*-75

9, 1

1.125.2

10.1 11.2
10.2 9 . 1
9. 8
*.
18. 1
i l . 8 12.8 1 6
11.1 11.6 11.8 13. 1 6 . 3
11.2 11.6 11. 7 12.0 10. 0 U . 7
10.6 10. « ! 0 . 9 U . ?
9. 5
8.9
*. 6.6 6.1
«8
9.2
9.2
Ö.5
6.6 6.2
8.9
B.9
*3.6

1- 75

H. O

7 . Q __ 7 . 5

2- 75

7. 5

7. 3

1. 135.2
1.143.5
I »159 . 5
I t 167. 2

1» 17 8 . 0
7.4
3.4

-0.5

4.5

3.1

6. « ^ ^

\

i a 84,5
1,191.0

5.5

5.0

3.4

2.1

3.4

0. I

___ L lI

4.5

3. 2

Z-A ...... 3._o

\ fJ t

3 .0

2 . ? ____L l±-

7. 2

6.9

1,185.0

. . .

n

.

1.191.1

_ 2 , iV

......................... -..........- .

...

U .1 9 3 ^ _ .

...

8.3%

1.» l Qi>
»,7

,4 ,.7 ..-_. J b J ___ _5 *1

^•0

7t<
>

a .o

7.8
.

9-75

?♦$ . . j Ae____i u ___LLt.Q, U ^ i _ U jA — t t t l .
_

»«2

9 .0

6*1____ 7._Q____ 7^0____ ^ 2 ____ 2 j^ .. _ L L ii___ U s ±

7 «l2. - JL m ___ g «l
2

_2ju2____ 1m ____ L l5—
2
____ S U _ L „

11
3-74

4-74

5-74

6-74

7-74

8-74

9-74

-?jL2___V U 2 ___L U A ___U t 2___IAj.JL

7 *1 .

8 . 5 ____8^2____ q .3

U t*

_ L i2 _ â 5 ^ 2 _

____ 8 .9

16.5

.L » 2 5 i.9 „_
15.3

-L.2.1 Q*.9

__ 1 - __ LL*_5___ LL*9___1 1 x 3 ___I A jlI ____ ______ LLi.2....JAjlQ. _L2* l A
3 *^

9 .2

10-74 I i- 7 4

-4

___ L Q jlI___ 12^5___ L i^ a ___ l±sJt____ 5^8___ L U

12-74

in it ia l

1-75

HONTH

2-75

3-75

4-75

5-75

6-75

7-75

8-75

„

9-75

— —

PRFLIMINAWY




PREPARED BY F E 0 F 9 A L
NOVEMBER 1 9 . 1975

8

RESF^VF

BANK OF S T .

LOU !

R ET A IL SALES
R A T IO

RATI O SCALE

SCALE

BILLIONS

OF DOLLARS

BILLIONS

SEASONALLY ADJUSTED

OF DOLLARS
RS

55

55
50

♦ 1
#♦
r

4
5

50

T*

45

+0. 4 Z

/

40
+/J.<I t /

40

J *

35

35
\
I

I
'i

f

+J.SZ

\
1

30

< z\

30
+r. 4,

I
1
;

i

25

25

j

J nr. w
i__... ............... J i t

n

i

r ~

20 1

1967

" i '*

1968

1969

1970

1971

1972

*fc.

SOURCE* U . S .
?E R CE N TA * ES ARC ANNUAL R ATES OF C H A M E FOR FE R IO O S
L A T E S T DATA F i O T T E O t

SEP TEM B ER,

1
\

\
r

1973

1974

20

1975

DEPARTM ENT OF COMMERCE

I H i I C A TE O .

OCTOOER A IV A N C E E S TIM A T E
PREPARED « Y

FEOERAL RESERVE RANK OF S T .

L O U IS

»TnrXTLTALFS
COMPOUNDFO A N N l U l
IN IT IA L

t f o m in a l

P & T E S OF CHANGE

«TILTPN S PC

Mf!NTM

MnNTH

"C ü n T U T ~ ■
3-'k

4-74

5-74

6-74

7-74

A-74

0-74

10-74 11-74

12-^4

1-75

2-75

3-75

4-74

12 2
7 4

4 ,4

14 0

1 4 ,2

1 5 .9

3 6 .6

9-74

17 1

18*0

2 0 .4

3 3 .3

3 0 .0

9-74

« 9

* ,0

7 .3

1 0 .5

- 0 .6

- 2 4 .0

10-74

7 6

6 .6

5 .7

- 0 .5

- 1 3 .0

11-74

2 0

0 .5

- 1 .2

-1 • 1

12-74

3 6

2 .4

1 .2

1 .7

- 4 .1

- 1 1 .1

- 6 .4

- 9 .2

1 6 .8

1-75

5 7

4 .«

4 .1

5 .0

0 .4

- 4 .6

1 .0

1 .4

2* . 6

2 6 .7

2-75

7 4

6 .8

* .4

7 .4

3 .8

- 0 .0

5 .6

T .2

2 3 .2

2 6 .5

2 6 .4

1-75

4 6

3 .8

3 .1

3 .7

0 .2

- 3 .5

0 .4

0 .6

9 .9

7 .7

- 0 .7

- 2 2 .0

4-75

6 0

_ 5 .4 _

4 .0

5 .6

2 .6

- 0 .3 ___ 3 .6

4 .3

1 2 .8

1 1 .8

7 .2

- 1 .3

9-75

- 1 .6

7-74

8-75

1 0 *«

6-74

5-75

7-7 5

13 6

5-74

4-75

6-^5

2 5 .0

4 4 ,4 0 6
4 4 ,* 8 0
4 4 ,7 2 *

7 .7

4 5 ,9 0 5
4 6 ,9 2 0
4 5**5 8
- 0 .4

- 8 * 7 - 1 8 .9 - 1 6 .2

4 5 ,8 4 4
4 4 ,5 2 0

-2«. 5
4 5 , IOO

4 6 ,0 0 6
4 6 ,9 1 4
4 5 ,9 5 1
46 , « ! ?

5-75

8 2

7 .8

7 .6

8 .4

6 .0

3 .6

7 .7

8 .9

1 7 .0

17.1

1 4 .8

1 1 .2

3 2 .«

4 1 .0

6 -*5

8 4

A .O

7 .8

<».6

6 .4

4 .3

8 .0

9 .1

1 6.1

1 6 .0

1 3 .9

1 1 .0

2 4 .9

2 4 .9

1 0 .6

7-75

0 6
*

c .3

0 .2

10.1

8 .2

6 .4

1 0 .0

1 1 .2

1 7 .8

i* .9

1 6 .5

1 4 .6

>6.2

2 6 .6

19« 9

*0. 1

8-75

9 4

9 .2

9 .1

9 .9

8 .1

6 .4

9 .7

1 0 .8

16.5

1 6 .4

15 .0

1 3 .2

2 2 .0

7 1 .3

1 5 .4

1 7 .8

6 .7

9-75

< 2
*

7 .0

7 .7

8 .4

6 ,6

5 .0

7 .0

8 .7

13.5

13 .1

1 1 .5

9 .5

1 5 .9

1 4 .2

8 .3

7 .6

- 2 .2

10-75

Q 4

* •2

« .0

8 .A

*>.0

5 .5

8 .2

o .O

1 3 .4

1 3 .0

1 1 .6

9 .9

1 5 .4

1 3 .9

9 .1

8 .7

3- 74

4-74

6-74

7-^4

1-75

2-75"

S '- T T

4 -7 *

'5-*5

6-7$

8-74 -*=75~

T 0 T - 7 T

T f- T * - T ^ T < “

4 8 ,1 7 3
4 ® ,5 7 8
4 0,65 5
4 0 ,9 2 5
- 1 0 .^

2 .4 ___ 0 .4

7 - fs

8-7T

4 0 ,4 7 3 »
1 2.3

4 0 , 955F

9-75

■&-_-pppLfUTKiARV '
6- c STfMATCO




PUbPAftPP BY PEBEQ4L ftF^ Q V P M M TH V 'S T r t '» n t S
N 0 V F M 8 F 8 13, 1 9 7 5

9

COMPENSATION p e r HOU*, TOTAL'TRTVATE ETtJHOTY
COMPOUNDED ANNUAL RATES OF CHAN6E_________
TERMINAL________________________
o u A irra r
1-71 2-71
4-70
3-71

IN IT IA L QUARTER_____________________________
4-71

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

'
3-74

_________________196T « 100
4-74

1-75

2-75
129.0

1-71

8 .5

2-71

7 .4

6 .3

3-71

7.1

6 .5

4-71

6« 1

5 .3

4 .8

3 .0

1-72

6 .8

6 .4

6 .5

6 .4

131.0
133.1

6 .6

134.1
9 .9

137.3
139.1

2-72

6*6

6 .2

6 .2

6 .1

7.6

5 .3

3-72

6 .3

5 .9

5 .8

5 .6

6 .5

4 .9

4 .4

4-72

6 .4

6 .1

6.1

6 .0

6 .8

5.8

6 .0

7 .6

1-73

7.1

6 .9

7.0

7.0

7.9

7 .4

8 .0

9 .9

12.3

2-73

6. 8

6. 6

6 .7

6 .7

7 .3

6 .8

7.2

8.1

8 .4

4 .7

3-73

6*8

6 .6

6 .6

6 .7

7.2

6 .7

7 .0

7 .7

7 .7

5 .5

4-73

6 .9

6 .8

6 .9

6 .9

140.6
143.2
147.4
149.1
151.4

6 .3

7.4

7 .0

7 .3

7 .9

8 .0

6 .6

7 .5

154.6

8 .7

157.1

1-74

6 .9

6 .8

6 .8

6 .9

7.3

7 .0

7 .2

7 .7

7 .7

6 .6

7.2

7 .7

6 .6

2-74

7.3

7 .3

7 .3

7 .4

7 .9

7.6

7 .9

8 .4

8.6

7 .8

8.7

9 .4

9 .8

13.1

3-74

7.6

7 .5

7.6

7 .7

8.1

8 .0

8 .3

8 .8

8 .9

8.4

9 .1

9 .8

10.2

12.1

11.0

4-74

7.6

7 .6

7 .7

7 .8

8.2

8 .0

8 .3

8 .7

8 .9

8 .4

9 .0

9 .6

9 .8

10.8

9 .7

1-75

7.8

7 .7

7 .8

7 .9

8.3

8.2

8 .4

8 .8

9 .0

8 .6

9 .2

9 .6

9 .8

10.6

9.8

9 .2

10.0

2-75

7 .8

7 .7

7.8

7 .9

8 .3

8.1

8 .4

8*8

8 .9

8.5

9 .0

9 .4

9 .5

10.1

9 .3

8 .8

8 .9

7 .8

9 .0

9.1

9 .5

8.8

8 .2

8 .2

7 .3

6 .7

3-75

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-74

4-74

3-75

7 .7

7 .7

7 .8

4—
70

t-71

7 .8

T-n

8.2

8 .0

8 .3

4-71 T - 7 T " Í - T T

8 .6

8.7

8.3

8 .7

3-72

4-7¿

1-73

2-73

162.0
166.3
169.7

8 .4

173.8
177.1
180.0P

IN IT IA L QUARTER
P- PRELIMINARY
OUTPUT PER HOUR OF ALL PERSONS, TOTAL PRIVATE ECONOMY
COMPOUNDED ANNUAL RATES i F CHANGE
O
TERMINAL
QUARTER

IN IT IA L QUARTER
4-70

1-71

2-71

3-71

1-71

5 .2
5 .1

2 .8

4-71

4 .2

2 .4

3.2

3 .9

2 .4

3 .0

2 .0

3-72

4-72

1-73

2-73

1967 * 100
3-73

4-73

1-74

2-74

1-75

2-75

1.5

1-72

2-72

0 .7

3-71

1-72

9 .9

2-71

4-71

107.4
107.6
4 .9

108.9
109.3
2*6

110.0

2-72

4 .3

3 .2

3.8

3 .4

4 .4

6 .3

3-72

4 .1

3 .2

3.7

3 .4

4 .0

4 .8

3 .3

4-72

4 .3

3 .6

4 .0

3 .9

4 .5

5 .1

4 .5

5 .8

1-73

4 .4

3 .7

4.1

4 .0

4 .5

5 .0

4 .6

5.2

4 .6

2-73

3.7

3 .0

3 .3

3.1

3 .4

3 .5

2 .9

2 .7

1.2

1" \
-2 .1

111.7
112.6
114.2
115.5
114.9

3-73

3 .3

2 .6

2 .8

2 .6

2 .7

2 .8

2.1

1.8

0.5

- 1 .6

- 1 .0

4-73

3.1

2 .5

2 .6

2 .4

2 .5

2 .5

1.8

1.6

0 .5

- 0 .8

- 0 .2

1-74

2.1

1.5

1.6

1.2

1.2

1 .0

0 .3

- 0 .2

- 1 .3

-2 .8

- 3 .0

- 4 .0

-»>

- 2 .6

- 4 .1

- 2 .3

- 3 .2

- 0 .5

114.6
0 .7

114.8
112.3

2-74

2 .0

1 .4

1.5

1 .2

1.1

1.0

0 .3

-0 .1

-1 .1

- 2 .2

- 2 .2

3-74

1.8

1 .2

1.2

0 .9

0 .9

0 .7

0.1

- 0 .3

- I.1

- 2 .0

- 2 .0

4-74

1 .3

0 .8

0 .8

0 .4

0.4

0 .2

- 0 .4

- 0 .8

- 1 .6

-2 .5

- 2 .6

- 2 .9

- 3 .7

- 2 .1

- 3 .4

- 5 .3 s

1-75

1 .2

0 .7

0 .7

0 .4

0 .3

0.1

- 0 .5

- 0 .8

- 1 .5

- 2 .3

- 2 .3

- 2 .5

- 3 .1

- 1 .8

- 2 .5

- 3 .0

- 0 .7 N

2-75

1.4

0 .9

0 .9

0 .6

0 .6

0 .4

- 0 .1

- 0 .4

— .0
1

- 1 .6

- 1 .5

- 1 .6

- 1 .9

- 0 .6

- 0 .8

- 0 .6

1 .8

l- V *
4 .4

3-75

1.8

1 .3

1 .4

1.2

1.1

1.0

0 .6

0 .4

-0 .1

- 0 .5

- 0 .3

- 0 .3

- 0 .4

1 .0

1.1

1.8

4 .2

6 .8

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

3-74

4-74

1-f 5

4-70

t- n

0 .4 s

112.4
- 1 .4 s

112.0
110.5
110.3
111.5
1

114.OP

2-75

IN IT IA L QUARTER
PRELIMINARY




PÄ EPA R EÖ ÔY PEÖ EftAL ^ r $ f R V T T S N K “ 0 F ~ S T .
OCTOBER 2 4 , 1975

10

LOU! S

PRODUCTIVITY, COMPENSATION, AND LABOR COSTS
RATIO SCALE
1967~1 00

1967

SEASONALLY

1968

1969

1970

RATI O SCALE
1967-100

A DJUSTED

1971

1972

1973
SOtfRCEt U . S .

P ERCEN TA SES ARE ANNUAL R A TES O f CHANCE FOR PERIODS

1974

1975

DEPARTM ENT OF L A tO R

INO I C A T E » .

DATA R E V IS E D FROM 1 0 6 7 .
L A T E S T OATA P L O T T E D .

9R0 OUA R T E « P R ELIM IN AR Y
PREPARED OY FEDERAL RESERVE SANK OF S T .

L O U IS

UNIT LABOR COSTS, TOTAL PRIVAT1 ECONOMY
COMPOUNDED ANNUAL RATES OF CHANGE
1967 * 100

IN IT IA L QUARTER

TERMINAL
QUARTER
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

3-74

4-74

1-75

2-75
120.1

1-71

- 1 .6

2-71

2 .0

5 .8

3-71

1.0

3 .5

121.8
12 2 .2

1.3

4-71

1.8

3 .0

1 .6

2 .0

1-72

2*8

4 .0

3 .4

4 .5

7 .0

122.8

2-72

2« 1

2 .9

2.2

2 .5

2 .8

- 1 .3

3-72

2*0

2 .6

2 .0

2 .2

2 .3

0 .0

4-72

2 .0

2 .5

2 .0

2.1

2 .1

0.5

1.5

1 .6

1-73

2*5

3. 1

2 .7

2 .9

3.1

2 .2

3.3

4 .4

7.2

2-73

3.0

3 .5

3 .2

3 .5

3 .8

3.1

4 .3

5 .3

7.1

f— n
I
7.1

124.9
124.5
1.3

124.9
125.4
127.6
129.8

3-73

3.4

3 .9

3.7

4 .0

4 .3

3.8

4 .9

5 .8

7.2

7.2

7 .3

4-73

3.8

4 .3

4 .1

4 .4

4 .7

4 .4

5.4

6 .2

7.4

7.5

7 .7

8.1

1-74

4 .7

5 .2

5.2

5.6

6 .0

5 .8

6 .9

7 .9

9.1

9.6

10.5

12.2

16.4

2-74

5.2

5 .8

5.8

6 .2

6 .6

6 .6

7.6

8 .5

9 .7

10.2

11.0

12.3

14.4

12.6

3-74

5 .7

6 .3

6 .3

6 .7

7 .2

7.2

8.1

9 .0

10.1

10.6

11.4

12.4

13*9

12.7

12. t

4-74

6.2

6 .8

6 .9

7 .3

7 .7

7.8

8.8

9 .6

10.7

11.2

11.9

12.8

14.0

13.3

13.6

14.5

1-75

6 .5

7 .0

7.1

7.5

8 .0

8 .0

8.9

9 .7

10.7

11.1

11.7

12.4

13.3

12.6

1 2.6

12.5

2-75

6 .3

6 .8

6 .9

7.2

7 .6

7 .7

8*4

9 .1

9 .9

10.2

10.6

11.1

11.6

10.7

1 0 .2

9 .4

3-75

5 .8

6 .3

6 .3

6 .6

6 .9

6 .9

7.6

8 .1

8.7

8.9

9.1

9 .3

9 .5

8 .4

7 .5

6 .3

3 .7

0 .4

Ï-71 " 2-71

*-71

4-71

1-72

2-72

3-72

4^72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

l- t5

4-TO

132.1
\

134.7

11 •I /V
107-

139.9
144.1
148.5
153*6
1 0 .5 ^
1 x U .A T a
6 .9
3.3
- 2 .5 s N

157.5
158.8
1 5 7 .8P

2-75

------------------------------------------------------ --------- I N J f U l W À & T Ï*

MELtHINARV--------------------------------------------------

'

---------------------------------------------------------------------------- -,--- ---------------P R E P M C T T Y r E B E R A L ' R E SEftVE^ANK ÔP ST . LOUTS
OCTOBER 24, 1975




11

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 D O L I A S
C O M P O U N D E D ANNUAL RA T E S OF C H A N G E

- 2 z l i ----1 9 t2

XOtQ

.1 0 *0

10*1

9*7

$>7

8 ,6

| 7 .2 |

8 .6

9 ^ 7 ^

9 .4

9.0

8.1

7.3

-8x2____ â i i ____ 8 ,0

7.5

6 .5

6.1

---- 2¿±--- h i --- h i --- h ± ____ 2jl2____ h i ____9 .4
a.fe

J k l ____ â±*_
- fc lL ,

8 ,2

9.1
4-70

1-71

2-71

3-71

3.9

P .P

« ,7

8 .4

1-72

2-72

3-72

4-72

1-73

IN IT IA L

7.1

6 .9

* » z V _

3,2

0 .0

>3.9
1.4

5,6

4 .8

Ail

6.6

7 .0

6 .9

4-73

1-74

2-74

3-74

4-74

:

1 .4 4 0 .9
1,5 0 3.6

t s

6.2

3-73

-1*430.9

1 8 ^

2 .3

7 .2

2-73

* ,7

4-71

_ U ± 1 £ jl _
2

6 .5

7.5

____< *2
>

_ lt 2 ____ 2jl £_

1-75

- p

7 .4

1-75

?-75

QUARTER

NATIONAL PRODUCT IN CONSTANT 1< 58 DOLLARS
>
COMPOUNDED ANNUAL ° ATES QP CHANGE____________
TERMINAL
OUAPfE»




IN IT IA L

B IL L IO N S OF
DOLLARS
ANNUAL «ATES

OUAPTFP

INITIAL QUA R T E R

P R E P A R E D BY * E O E R A L
N O V E M B E R 20, 1 9 7 5

12

RESERVE

BANK

CE ST. L O U I S

DEMAND AND P R O D U C T I O N
R A T I O SCALE
QUARTERLY TOTALS
T R I L L I O N S OF DOLLARS
SEASONALLY

R A T I O SCALE
T R I L L I O N S OF DOLLARS

AT ANNUAL RATES
ADJUSTED

1.7

1

1 .6

1.5
1.4
1.3

1.2
1. 1
1 .0

0.9

0.8

0 .

0.7

0 .

0.6

0.5
1967

1968

1969

1970

1971

1972

1973

1974

1975

SOURCE« U .S . DEPARTMENT OF COMMERCE
UJBNP IN CURRENT DOLLARS.
B$NP IN 1958 OOLLARS.
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS IN D IC A TED .
L A TE S T DATA P L O TTE D i 3RD QUARTER




PREPAREO BY FEOERAL RESERVE BANK OF S T . LO U IS

13

GENERAL P RI CE

IND EX*

RATIO SCALE

RATIO SCALE

1958-100

1958-100

1967
* AS USCO

1968

1969

IN N ATIO N A L

1970

1971

1972

INCOME ACCOUNTS

SOURCE«

PERCEN TAGES A «E ANNUAL RATES OF CHANCE FOR PERIODS
L A T E S T DATA P L O TTE D «

1973
U .S .

1974

1975

DEPARTMENT OF COMMERCE

IN O IC A T E O .

3RD OUARTER
PREPARED >Y FEDERAL RESERVE SANK OF S T .

L O U IS

IM P L IC IT PRtCE OEFLATOR FOR GROSS NATIONAL PRODUCT
___________ COMPOUNDED ANNUAL RATES Of CHANGE________ _
1958 « 100

IN IT IA L QUARTER

TERMINAL
QUARYÉft
4-TO

1-71

2-71




3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

1-73

4-73

1-74

2-7»

3-74

4-74

1-75

2-75

IN IT IA L OUARTER

14

PREPARED BY FEDERAL RESFRVE SANK OF ST. LOUIS
NOVEMBER 20* 1975

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 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 ___________ ___
TERMINAL

IN IT IA L

QUARTER

4-70
1-71

1-71

2-71

3-7 i

4-71

1-72

2-72

4-72

1-73

2-73

3-73

4-73

_______

14*9____________________________

2-71

3-72

B IL L IO N S OÉ
DOLLARS
ANNUAL t A T è i '

QUARTER

1-7»

2-74

B~74

4-74

1-75

2-75

____________________________________

630*3

7*3

662*1

6*8

3-71

672» 1

4-71

8*8

6*7

1-72

9.2

8*0

8*9
9*7

11.1

11*3

8 .0

9*6

10*5

10*3

9 .3
10*4

11*5

8*5

683*0
701*3

10.8

2-72

9*6

3-72

9*5

4-7 2

9*8

9*1

9*4

10.0

10 .7

10*7

1-73

10*2

9*6

10*0

10.6

11*3

11*4

11*5

12*6

13*6

2—
73

10*1

0*9

10*4

10.9

ll.Q

10.9

11.4

11.3

9*2

3-73

10*0

9*8

10*2

10*7

10*6

10*5

10*8

10*5

9*0

8*9

7*3

6*3

3*8

7*5

7*0

6*0

8*4

8*7

11*3

14*3

10*4

12*7

15*0

8*7

8*9

9*5

Js z l2-

- h i____ 2±2-

1-74

720*6
736»ft
TS7*2

8.8

-2.-6

781*7
799*0
816,3

10*1

4-74
1-75

9 .4

9*6

9*5

9*2

9 .2

9*3
3-74

9.1
^*5

9 ,*

10*1

10.0

9.8

9 .9

9 .6

9*8

10*0

10.3

IQ .6

10.5

10*5

10*6

10*5

10*0

10*1
7*9

7*7

e*7

8.1

7.9

7*8

8 .9

9 .4

9.1
9*5

1-71

9*2

9.3

9*1

9*2

9*3

4-70

9 .3

9*3

9*2

-¿T-LL
3-75

-à lit i.

9*2

9*7
2-71

3-71

4-71

840*6

■ 1
?
AV
15*7
6*2

» 2 *4

6*8

2 *7

893*8
8*0

* 1 3 ,2

9*1

9*0

9*2

8*0

5* 6____ 9* 8

11*6

9*4

1 - 7 2 P f2

3-72

9*0

8*9

8*9

9*7

9 .9

9*1

7*5

11*0

12*5

13*5

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

968 .8

— ÎN T TfÀ L ÔOÀrTé*-------------------------------------------------------------------------

PERSONAL CONSUMPTION F X P FN O IT U P FS IN CONSTANT 1958 OOLLARS
__________________ COMPOUNDED ANNUAL RATFS I P CHANGE____________________

B IL L IO N * 0#
OOLLARS
ANNUAL PATES

I N I T I AL QUARTER

" "tiO W T E*'
4-70

1-71

?-7 l

3-71

4-7!

1-7?

2-7?

3-72

4— 2
7

1-71

11.0

2-71

6*9
5 .7

3.1

3 .2

4-71

5.6

3 .8

4 .2

5*2

1-72

5*9

4 .6

5 .2

6*2

6*3

5.4

6 .0

6*9

7 .7

6*3

5 .5

6*0

6*7

7.2

7*3

6*6

5 .9

6 .4

7*1

7*6

7*7

7*4

1-73

6*7

6 .2

6 .*

7*3

7*7

7.8

7*6

8*3

6*1

5 .6

i>.9

6*3

6*5

6*3

5*8

5*7

4*3

1-74

4-74

1-75

2-75

8*1

2-73

2-74

6*3

4-72

1-74

8 .4

3-72

4-73

7*1

2-72

3-73

?*1

3-71

2-73

1-73
490*1

493*8
497*7
304*1
312*8
323*2
531*2
8*5

342*2
532*9
0*6

533*7

*3-73

5*6

5.1

5.4

5*6

5*7

5 .5

4*9

4*6

3*3

0 .9

1.2

4-73

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*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*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*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

4-74

2*6

2*0

1*9

1*8

1*6

1*1

0*4

-0*3

-1.3

-2*6

-3*1

-3*9

-3*3

-2*8

—
5*3 -13 *2

1-75

2*6

2*0

2*0

1*9

1*6

1*2

0*6

0*0

-0*9

-2*0

-2*3

-2*9

-2*2

-U 3

-2*7

-9 *7

2*5

2-75

2*8

2 .3

2*2

2*2

2 .0

1.6

1.0

0*6

-0.2

-1*1

-1*3

-1*6

-0*8

0*0

-0*6

-1*8

4*4

6*3

3-75

3*0

2 .5

2*5

2 .5

2 .3

1*9

1*5

1*1

0*4

-0*3

-0*4

-0*6

0*2

1*1

0*9

J>*3

5 .2

6*5

6*8

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4—
72

l- ti

2-T3

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75




535*4
346*3
539*7
342*7
3*4

547*2
528*2
331*3
539*7
548*6

PRÈPARÉO BY F3>€RAL R ÏS É R V É BANK ÓF S T . L Ô ü lS
NOVEMBER 20* 1#75

15

GROSS PR IVATE OOMFSTIC INVESTMENT IN CURRENT DOLLARS
_____________COMPQUNOEO ANNUAL RATES OF CHANGE______________
t e r m in a l

in it ia l

ÔUttTPft

W O

1-71

2-71

3-71

4-71

1-72

2-72

3-72

1-71

25.6
15.9

^ .6

»—
71

17.0

1 3 »1

9 .0

18.2

13.6

13.6

2 1 .ft

1 7 .7

1 5 .5

1 » .0

1 9 .6

1 9 .1

1 7 .5

1 5 .6

1 4 .3

1 8 .6

1 8 .0

1 5 ,6

1 7 .7

1 6 .0

1 5 .1

1 8 .7

H .3

|6 .7

1 7 .5

2-7»

3-74

4-74

1-75

2-75

1 5 ,9

4-72

1-7»

1 5 .2

3-72

4-73

23.2

2-72

3-73

2 0 .»

1-72

2-73

21. b

3-71

|-73

29.6

2-71

4-72

q uarter

1 9 .Q

1-73
- 1 = 2 1

fc tU tÒ N l"Ò #
DOLLARS
ANNUAL feATES
146.6

ULVQ
—1,3

133,3
160.6
169.»
173,3
182.1

-ilQ si

1 7 .9

1 6 .5

1 5 .8

1 8 .9

1 3 .6

1 7 .5

1 8 .2

1 9 .»

19.8

____ 1 7 .»

u .l

1 5 .»

18.0

17.6

16.5

16.9

17.2

16,3

12.8

- 112 x g

. 'i r l i . ____ 16.5

15.2

14 . 5 ___1 6 ,?

1 6 ,?

15,0

15,0

1».8

13.»

10,3

7,8

J i Z l l ____ 17.8

16,8

16.3

H .4

18,2

17.5

17,8

18.2

18.0

1 7.»

19,8

I T.?»____ 14.0

12,8

1 2 .0 — 13.5

12.7

H .5

11.0

10.1

8 .5

3 .8

3 .5

1 .» -2 2 .7

IP t ^ ____1x1___________ 7 .»

5.1

3.3

1.8 -1 1 .0

W t? ____ ì l i ____i l i ____ I l i ____t a ___ 4 . 6

2 .3

0 .3

- 1 .5 -1 0 .9

3 .0

1 .»

-2=2±--- 12*2.- Ü U t t - 1 U 2

..frill,.. U t^

..lit *

I9 i? ____ **1?

Ji=2±---L U Ì__ LOjl0___ ____________
1t7?

» tl---ix l---L

---- U I --- -1 tO

t l

i t i ___ SjlÖ___ I l i ____6 .»

--- UZ- Q
-

- lt O

- 2 ,3

« i_ - 1 » 3

-»,.1

- 2 i6 ._ _ - 4 .3 _

- 5 ,? - 7 .2

----Lt2 --- ixfc --- 3*6___ l i i ___ L l2____ b i ____0 ,6
»-70

1-71

2-71

3-71

»-71

1-72

2-72

» .9
- 6 .6

- 9 .5

- 1 2 .?

-299 tQ
33.1

0 .2
- 1 5 ,2

-2ZÌ t?

- 6 .7
- 2 2 ,6

ZiQ 1 ?

¿11 «g

2 .5
- 4 . » -1 0 .9
- 0 .7
- 3 2 ,3

-9 .5 -1 2 .3 -1 5 .0 -1 7 ,9 - 2 » .2 - 2 » . S - 3 0 . 1

- 2 .3
- 2 9 ,»

7 .2
- 3 7 ,2

- 6 3 .2

■
Ife la 1

,Wtl

-3 5 .5 -5 0 .0 -3 2 .0

- 0 .6

- 2 .2

- » .1

- 5 .8

- 7 .» -12 .1 -1 0 .2 - 1 2 .6 - 1 3 .0 -1 8 .8

20.6 113.9

3-12

4-72

1-73

2-73

3-73

1-75

4-73

1-74

2-74

3-74

4-74

JJ.S U

2= n

IN IT IA L »jAftTfft
GROSS PRIVATE OONESTIf INVESTMENT IN CONSTANT 1958 OOLLARS
COMPOUNOEO ANNUAL RATES OF CHANGE
IN IT IA L OUARTÇR

*
1
H
O

TERMINAL
OUAfc'TÉR
1-71

2-71

3-71

»-71

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

B IL L IO N S OF
OOLLARS
ANNUAL RATÉS
2-75
107,9

1-71

2». 7

2-71

19.9

15.3

3— 1
T

10.3

3 .7

»-71

1 2 .»

8 .6

5 .»

19.1

1-72

13.3

10.7

9 .2

18.0

17.0

2-72

13.3

11.2

10.2

16.5

15.2

13.4

U l,8
109.9

- 6 .6

114,8
119.4
123.2
126.6

3-72

13.1

11.2

10.5

15.2

13.9

12.4

11.5

»-72

13.2

11.7

11.1

1 5 .0

1 » ,3

13.0

12.9

14,3

1-73

13.0

11.6

U .l

1 » .»

1 3 .»

12.6

12.3

12.7

U .l

2-73

12.3

10.9

10.»

13.1

12,1

11.2

10.6

10.3

8 ,4

_ 1 ÎP .9 „
134.4
5,8

136.3
135.8

3-73

10.9

9 .6

9 .0

11.2

10.1

8.1

7.3

5 ,0

2,1

- 1 ,5

»-73

12.6

11.6

11.2

1 3 .»

H t7

12. i

11 *9_

12,0

11.4

11,5

14,4

3 2 .9

1-7»

4.6

7 .3

6 .6

8.0

6 .9

5.7

4 ,6

3.5

1,5

-0 .8

- 2 ,9

- 3 ,6 -3 0 .1

2-7»

7.2

6 .0

5.2

3-7»

5.0

3 .7

» .2

3.0

2.2

145.8
133,3
- 8 .7

6 .»

130,3

2 .9

5 .2

4 .0

2 ,8

1.7

-0,3

-2 ,4

- 4 ,4

- 5 ,4 -20,1

2 .» _

2.9

»-7»

9 .0

1.1

-0,2

-1 .6

-3 ,6

- 5 .9

-8 ,1

- 9 ,6 -2 0 .5 -1 5 .3 -2 1 .4

1.6

0 .3

-0 .9

-2 .2

-4,1

- 6 .0

- 7 .9

- 9 ,1 -1 7 ,4 - 1 2 ,6 -1 4 ,5

122*7
120,5

- 7 ,0

1-75

-3.1

- » .6

-5 .8

2-75

-5.1

- 6 .6

- 7 .*

- 7 ,9

- 9 .6 - l i . »

3-75

-U O

- 2 .2

- 3 .2

- 2 .9

-4 .3

-5.6

-6 .9

-8.3 -10,2 -1 2 .0 - 1 3 .8 -1 5 .3 - 2 0 .3 - 1 8 .8 -2 0 ,7 -2 0 ,5 - 2 4 ,6

»-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72




- 5 .8

- 7 ,»

89,3

-9 ,2 -11 .0 -1 3 .0 -15,6 -1 8 .5 -2 1 .5 - 2 4 ,4 -3 2 ,4 -3 3 ,0 - 3 9 ,6 -4 7 ,0 -6 9 ,8

80,7

-1 3 .2 - 1 5 ,L_ -17,6 -2 0 ,3 -2 3 ,1 - 2 5 ,7 - 3 2 .4 -3 3 ,1 -3 8 ,1 - 4 2 .S -53,1 -3 3 t J

4-72

1-73

2-73

3-73

4-73

!->4

¿.74

*-74

4-74

19,2 113,1
1-75

9T.5

2-75

IN I» IÀ L QUARTER

e»*i>»«êD »v
NOV6HBFO 20. 1975

16

R éiéivf e»NK i i t r . U utS

.

GOVERNMENT PURCHASES OF GOOOS ANO SERVIC ES IN CURRENT OOLLARS
B IL L IO N S OF
DOLLARS
ANNUAL RATES

IN IT IA L QUARTER

TERMINAL
QÜÄRTOT
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

3-74

4-74

1-75

2-75

1-71

8*5

227.9

2-T1

7 .3

6 .1

231*3

3—
71*

7*5

7 .0

7.8

4-71

8#4

8 .4

9.6

11.3

1-72

9*8

10.2

11*6

13.5

15.7

2-72

8 .9

9 .0

9 .7

10.4

9 .9

4 .4

3-72

7.9

7 .8

8.2

8 .2

7.2

3 .2

2.1

4-72

8*4

8 .4

8.8

9 .0

8.5

6 .2

7.1

12.3

1-73

8.6

8 .6

9 .0

9 .2

8.8

7.1

8*1

11.2

2-73

8 .4

8 .4

8 .7

8 .8

8*4

7 .0

7 .7

9 .6

8.3

6 .5

3-73

8.1

8.1

8.3

S .4

8 .0

6 .7

7 .2

8 .5

7.3

6 .0

5.4

4-73

8 .6

8 .7

8 .9

9 .0

8 .8

7 .8

$•4

9 .7

9.1

8.7

9.8

235.7
242.1
251.1
253.8
253.1
262.6
2 6 9 .0

10.1

273.3
....

-

?7 6 t ?
2 B 6 .4

14.4

296.3

1-74

9.1

9 .1

9 .4

9 .6

9 .4

8 .6

9.3

10.5

10.1

10.1

11. 4 j 14.5

14.6

2-74

9 .3

9 .3

9 .6

9 .7

9 .6

8 .9

9 .5

10.6

10.3

10.4

11.4

13.5

13.0

11.4

3-74

9 .4

9 .4

9 .7

9 .8

9 .7

9 .1

9 .7

10.6

10.4

I9 t *

11.3 \ 12.8

12.2

11.1

4-74

9 .7

9 .8

10.1

10.3

10.2

9 .7

10.2

11.2

11.0

11.2

12.0

13.3

13.1

12.6

13.2

15.6

1-75

9.8

9 .8

10.1

10.2

10.2

9 .7

10.2

11.1

10.9

11.0

11.7

12.8

12.4

11.9

12.1

12.7

10.0

2-75

9 .7

9 . 7 _ 10.0

10. 1

10.0

9 .6

10.0

10.8

10.6

10.7

11.2

*2.1

11.7

11.1

11.1

11.2

9 .0

8.1

9.8

9 .4

9.8

10.4

10.3

10.3

10.7

11.4

10.9

10.4

10.2

10.0

8 .2

7.3

6 .5

4-71

1-72

2-72

3-72

4-72

1-7 3

2-n

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

9 .5

9 .5

9.8

9 .9

4-70

1-71

2-71

3-71

3-75

304.4
312.3

10.8

323.8
331.6
338.1
343.5

IN IT IA L QUARTER

GOVERNMENT PURCHASES 0* GOOOS AND SERVICES IN CONSTANT 1958 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE

1-71

2-71

3-71

1-71

-0 .4
1.8

3.2

3.5

5 .0

7.6

3-72

4-72

1-73

2-73

3-73

1-74

2-74

3-74

4-74

1-75

2-75

6 .6

4-71

2-72

DOLLARS
i M )A t U t i l

0 .0

3-71

1-72

- 0 .9

2-71

4-71

i m
i

IN IT IA L QUARTER
4-70

1 *1

TERMINAL
ÔÜÀRTËA

8 .6

137.5
137.5
139.7
142.6

1-72

3.5

4 .6

6 .2

6 .0

3.4

2-72

2.9

3 .6

4.6

3.«)

1.7

0 .0

3-72

1.6

2.1

2.5

1.5

-0 .7

-2 .8

- 5 .4

143.S
143.8
1 4 1 .«

4-72

1.9

2 .3

2.6

1.9

0 .3

- 0 .7

- l.l

3 .4

1-73

2 .0

2 .4

2.7

2.1

0 .8

0.2

0.3

3 .3

3.1

f»
<
M

1.7 .

2 f0

2.3

1.7

0.6

0.1

0.1

2 .0

.1 .?

3-73

1.5 __JL,8 ._._Lr 0

Iff*

0 .4

-0 .0

- ftil

it i

.Pt 7

144.1
- 0 .6

1 4 3 .«
«
©
1

■I t *

2.1

2.3

l.o

l.l

0.8

0.9

2.2

1.9

\r>

2.5

7

1-74

\t%

2 .0

2.2

1.8

1.1

0.8

0.9

2.0

-1*7

It?

2 .0

ìtZ

0 .8

IS *

1.6

i.e

2.0

U6

0 .9

0 .6

0 .7

1.6

It 3

0 .9

1.3

?t9

0.1

1
o
*

143.7

4-73

±r.7A

I t?

1,7

l.ft

1.5

0 .8

0.6

0 .6

1.4

1.2

0.8

1.1

It?

0.2

1
o

.

143.0

Q-rT. .

1 .4

1 .1

O t?

1.1

0 .4

o

146.0

o
u
*

145.•
145.9

1.8

1 .4

0 .9

0 .6 .

„1 - 7 ?

I . ft

1.9

1.6

1.1

0 .9

uo

1.6

1.4

1.2

1.5

It*

l.l

1.2

1.7

2 .5

3 .9

- ¿ Z ìi

1.8

1.9

2.1

1.8

1.3

l.l

J.2

1.9

1.7

1.6

1.8

iti

1*6

1 .7

2 .3 _

3 .0

4 .0

4 .1

1.8

2 .0

2.5.1..

1.3

1.9

1.8

1.6

1.9

It Z

1.7

1 .9

2 .4

2 .9

3 .5

3 .3

2 .4

1-71

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

_

*




2-71

J U *

3-71

4-71

...

1-72

I n it ia l

.
o

1 .7
1.6

©
If1

4-74

143.7

l.l

146.3
147.7
149.2
150.1

o uartéR

PREPARFD BY FEDERAL RESERVE KANK OF S t . LOUtS
NOVEMBER 20» 1975

17

DISPOSABLE PEPSHNAL

INCOME IN CURRENT DOLLARS
COMPOUNDED ANNU AL P A T F S OF CHANGE___________________________________________ ______________ ____________
---------------------------------- “
R IL L IONS OF

T E R M I N A L _____________________________________________________________ I N I T I A L

Q U A R T ER _________________________________________________ .______________________________________________ D O L L A R S

ANNUAL RATES

QUAPtER
4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72

4-72

2-73

1-73

3-73

4-73

1-74

2-74

3-74

4—74

1-75

2-75

12.7

728.6

2-71

10.7

8 .8

744.1

3-71

8.4

6 .3

3.0

4-71

7.7

6# 1

4 .8

1-71

751.3
761.8

5 .7

774.7

1-72

7.6

6*3

5.5

6 .3

6 .9

2-72

7.7

6 .7

6 .2

6 .9

7.5

8.1

3-72

7 .9

7 .1

6 .7

7 .4

8.0

8.6

9 .0

4-72

8 .9

6 .3

8.3

9.1

10.0

11.1

12.5

16.2

i-7 3

9*6

9 .2

9 .3

10.2

11.2

12.2

13.6

16.0

790.0
807.2
838.1
869.5

15.8

892.1

2-73

9 .7

9 .4

9 .5

10.3

U .l

U .9

12.9

14.3

13.3

10.8

3-73

9 .8

9 .5

9 .6

10.3

11.0

11.6

12.4

13.2

12.2

10.5

10.1

4-73

9 .9

9 .7

9 .8

10.4

11.0

11.6

12.2

12.9

12.1

10.9

10.9

11.6

1-74

9 .5

9 .3

9 .3

9 .9

10.3

10.8

11.2

11.5

10.6

9.3

8.8

8,2

4 .9

2-74

9 .3

9 .1

9.1

9 .6

10.0

10.3

10.6

10.8

10.0

8.8

8.3

7.7

5 .9

6 .9

3—
74

9 .5

9 .3

9 .3

9 .7

10.1

10.4

10.7

10.9

10.2

9.3

9 .0

8 .7

7 .7

9.1

11.5

4-74

9 .3

9 .1

9.1

9 .5

9.8

10.1

10.3

10.4

9 .7

8.9

8.5

8 .2

7.4

8.2

8 .9

1-75

8*9

8 .7

8 .6

9 .0

9.2

9.4

9.6

9.6

8.9

8.1

7.7

7 .3

6 ,4

6.8

6 .8

4 .6

2.7

2-75

9.8

9 .7

9 .7

10. Î

10.4

10.7

10.9

ll.l

10.6

10.0

10.0

9 .9

9 .6

10.6

11.6

11.6

14.3

27.2

9 .5

9.7

9.9

10.1

10.2

9 .6

9 .0

8.8

8 .7

8.3

6.9

9 .3

8 .7

9.5

13.0

0 .4

3-71

4-71

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

..

4—
^0

°a _
1-71

2 - tl

in it ia l

_

913^9
939.4
950.6
966.5
993.1

1 .0 0 8 .8

6 .5

1*015.5
1 ,0 7 8.5
1 »079.6

q uarter

DISPOSABLE PERSONAL INCOME IN CONSTANT 1958 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
8 111 i o n s of
DOLLARS
ANNUAL RATES

IN IT IA L QUARTER

t e r m in a l

QUARTER
4-70

1-71

i —71

6 .6

3-71

4-71

1-72

2-72

4-72

3-72

1-73

2-73

3-73

4-73

1-74

2-74

4-74

1-75

2-75

4 .5

548.8
554.9

3-71

4 .7

2 .8

1.1

4-71

4 .5

3.1

2 .4

3 .8

1-72

4*3

3 .2

2.7

3 .6

3.3

2-72

4 .4

3 .6

3 .4

4. 1

4.3

5.3

3-72

4 .7

4 .0

3.9

4 .6

4 .8

5.6

5 .9

4-72

5 .7

5 .2

5 .4

6.2

6 .9

8.1

9.5

13.1

1-73

6 .2

5 .9

6.1

6 .0

7.6

* .6

9.8

11.7

2-73

5 .8

5 .4

5.5

6 .2

6 .6

7.3

7.8

8.4

6. 1

2 .0

5 .4

5.1

5.2

5.7

6 .0

6*4

6.7

6.9

4 .9

2. 2

4-73

S7

4 .7

5. 1

5.3

5.6

5.7

5*6

3.8

1,7

1.5

0 .7

ir7.A

3 .6

3.5

3,8

3 .8

3.8

3.6

3.2

It *

- 0 .8

- 1 .7

- 3 .7

- 7 .8

irl*

3.Ç

2.8

3.0

2 .9

2.9

2.6

2.1

0.4

-1 .5

- 2 .4

- 3 .9

-6 .1

-4 .4

2 .6

7

2.6

2 .5 *

2.2

1.8

0.3

- 1 ,3

- 2 .0

- 3 .0

- 4 .3

- 2 .4

- 0 .4

...... ,

.

3-74

8.8

2-71

2-71

...

556.4
561.6
566.2
573.6
581.9
600.1
10.4

.

615.1
618.2
2 .3

621.8
622.9
610.3
603.5

3-74

3.1

4-74

2*6

2 .2

2 .0

? .l

1.9

1,8

1.5

1.0

-0 .4

- 1 ,9

- 2 .5

- 3 .5

- 4 .5

-3 .4

- 2 .9

- 5 .3

1-75

2.3

1.9

1.7

U7

1.6

1.4

r.i

0 .6

-0 .7

-2 .0

- 2 .5

- 3 .3

- 4 .1

- 3 .2

-2 .8

-3 .9

2-75

3.2

2 .9

2 .8

2 .9

2.9

2.8

2.6

2 .3

1.3

0 .4

0.2

- 0 .1

- 0 .3

1.3

2.8

3.8

8.7

21.3

3-75

2.8

2 .4

2 .3

?♦
4

2.3

2.2

2 .0

1.7

0.7

-0 .2

-0 .5

- 0 .8

-1 .1

0.1

1.0

1.4

3.7

7 .0

- 5 .6

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

3-74

4-74

1-75

2-75




IN IT IA I

»

602.9
594.8
- 2 .5

591.0
620.2
611.4

OUARTER

PREPAREO BY FEOERAL RESERVÉ BANK OF' S t . LO UtS
NOVEMBER 20, 1<J75

18

_

CORPORA!E p r o f i t s

TERMINAL___________________
QUARTER
1-71
4-70
2-71

3-71

4-71

1-71

5 2 .4
4 1 .0

2 9 .1

2 0 .0

4-71

3 5 .4

2 6 .C

2 0 .4

19.0

1-72

3 5 .0

2 7 .8

2 4 .5

26.

3 3 .3

2-72

3 2.1

2 5 .P

2 3 .0

23.7

2 5 .6

rates

3 7 .9

3-71

annual

6 8*3

2-71

1-72

AFTER TAXES *

o f c h a n g e _________________ _____________________________________________________
— —
6 I L I IONS ~ÔÊ
________________ IN 1 T IM . QUARTER_______________________________________________ _______________________ DOLLARS
ANNUAL R A T ES
4-74
3-74
2-7 4
1-75
2-75
1-74
2-72
3-72
4-72
2-73
4-7 3
1-73
3-73
com poun d ed

4 1 .8
4 5 .3
4 7 .5
4 9 .7
5 3 .4
5 5 .7

1 8 .4

5 8 .4

3-72

3 0 .4

2 5 .C

2 ?. 5

?2 . 9

2 4 .0

1 9 .6

2 0 .8

4-7?

3 1 ,1

2 6 .5

2 4 .7

2 5 .5

2 7 .0

2 4 .0

2 8 .3

3 6 ,3

1-73

3 4 .5

3 0 ,8

2Q. P

3 1 .3

33. P

3 3 .*

3 9 .5

4 9 .9

6 4 .9

6 3 .1
7 1 .5

2-73

32*4

2 8 ,9

27*8

2 8 .8

3 0 .4

2 9 .8

3 2 .9

3 7.1

3 7 .5

1 4 .7

‘3-73

2 P .3

2 4 .9

2 ? .5

2 3 .°

2 4 ,5

2 3 .1

24.0

2 4 .8

2 1 .2

4 .0

- 5 .8

4-73

2 5 .9

22 . 6

21*2

21*2

21*4

1 9 .7

2 0 .0

1 9 ,8

1 6 .0

3 ,2

-2 ,2

2 4 .7

25.1

2 5 .7

2 4 .8

2 5 .8

2 6 .6

2 4 .8

16.4

7 4 ,0
7 2 .9
7 3 ,2

1 .7

8 3.2

6 6 ,9

2 8 .6

2 5 .8

2-74

2 6 .3

2 3 .5

2 2 .4

2 2 .6

2 2 .8

2 1 .7

2 2 .1

2 2 .3

2C. 1

1 2.8

12,3

1 9.1

2 8 ,9

- 0 .5

3-74

28*6

20*2

2 5 .3

2 5 .7

2 6 .2

2 5 ,5

26 *4

2 7 ,1

2 5 ,8

2 0 ,3

2 1 ,4

2 9 .4

4 0 .2

2 8 .5

6 5 .8

9 4 .3

4-74

2 1 ,^

IB .7

1 7 ,4

J7 .?

1 7 ,0

1 5 .6

1 5 ,3

14*7

l? ,2

_ 6 ,2

4 ,9

7 ,2

8,6

- 5 ,9

- 8 ,5 - 4 9 ,5

79.5

- 0 .6

- 9 .9

1-74

8. 1

1-75

13*3

1 0 .5

e .o

7 .2

5 ,3

4 ,2

2-75

1 5 .5

1 3 .0

U ,0

1 U -J

1 0 .4

8 .8

8.1

7 ,0

3-75

1 a.

1 6 .2

15.1

1 4 .7 .. 1 4 .4

1 3,1

L2»7

1 2 ,1

4-70

1-71

2-71

3-7 1

1 -7 ?

2-7?

3-7 2

, * NATIONAL

I P-

4-71

1 6,0

3 0 .3

83.1

- f .7

- 9 .4

4 .4 _ - 0 ,7

- 2 .5

10,1

5 ,7

4 ,8

t
6 ,2

6 .9

- 0 .8

- 0 ,9 “ 12.8

4-7?

1-73

2-73

3-73

4-73

1-74

2-74

-12.1 - 2 5 .1 - 3 1 . 9 - 5 6 .4 -62.3
- 2 .7

-12.6 - 1 5 .4 - 3 2 .4 - 2 1 .8

3-74

62 .3
7 0 .3

6 2 .1

4 .6

74.1

86.9

4-74

1-75

2-75

8 2 .2P

I N l t î A L OUARTER
INCOME B A S IS _______________________________ ____________________________________________________________________________________________________________ _______________

pr elim in a r y

PREPAREO BY PEOERAL RESERVE BANK OF ST . LO UIS
NOVEMBER 20* 1975

SOURCES OF DATA
National Income and Product Accounts Data




Source: U.S. Department of Commerce, Bureau of Economic Analysis
Historical Data Sources:
1970-73:
1968-69:
1966-67:
1964-65:
1929-63:

Survey of Current Business, July 1974
Survey of Current Business, July 1972
Survey of Òurrent business', July 1970
Survey of Current Business', July 1968
The Mtional Income and Product Accounts of the
United States, 1925-65. Statistical Tables
(available from any U.S. Department of Ccnmerce
Field Office or from the Superintendent of
Documents, U.S. Government Printing Office,
Washington, D.C. 20402).

19

IN V E N T O R IE S

COMPARED WI TH MONTHLY S A L E S *

MANUFACTURING AND TRADE

76

76

72

72

.6 8

68

1 .64

64

1 .60

60

56

56

52

52

1 .48

48

44

44

40

1 .40
1961

1962

1963 1964

1965 1966 1967

1968 1969

« R A T I O S BASED ON SEASONALLY ADJUSTED DATA.

1970 1971
SOURCE:

1972

1973 1974

1975

U. S . DEPARTMENT OF COMMERCE

SHADED AREAS REPRESENT PERIODS OF BUSI NESS RECESSIONS
AS DEFINED BY THE NATIONAL BUREAU OF ECONOMIC RESEARCH.
LATEST DATA PLOTTED:




SEPTEMBER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST.

20

LOUI S

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