Full text of National Economic Trends : December 1979
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n n T io n m
PREPARED
BY
e c o n o m ic
FEDERAL
Month Ending: November 30, 1979
RESERVE
BANK
m enos
OF
ST. LOUIS
Released: December 31, 1979
Growth in total spending (GNP in current dollars) has
moderated in 1979. As a result of the added inpact of increased
energy prices, output rose at a sluggish 0.6 percent annual rate in
the first three quarters of 1979, conpared with a 4.8 percent rate
of increase in the year ending in the fourth quarter of 1978.
Prices, as measured by the inplicit price deflator for GNP,
accelerated to a 9.1 percent rate of increase from an 8.2 percent
rate in 1978.
Although total spending by consumers, businesses, and
government slowed in 1979, the most noteworthy cutbacks in spending
occurred in consuner purchases of durable goods, especially
automobiles, and in residential investment. Real spending for
consuner durables declined at a 4.5 percent rate in the first three
quarters of 1979, conpared with the 6.8 percent rate of expansion fn
the year ending in the fourth quarter of 1978.
Similarly,
residential investment in constant dollars declined at a 7.7 percent
rate, after rising at a 7.3 percent rate in the two-year period
ending in the fourth quarter of 1978. Expenditures for homes and
durables have been influenced by rising home prices, credit
availability, and energy price developnents.
The effect of energy price increases on real spending is
especially apparent in domestic sales of automobiles. Domestic
sales of new passenger cars fell to an annual rate of 8.7 million
units for the first three quarters of 1979 from the 9.3 million sold
in the previous year. Moreover, inport sales increased from 2.0
million in 1978 to an annual rate of 2.3 million units, as consuners
switched to smaller, more energy-efficient automobiles. For the
first three quarters of 1979, large and intermediate cars made up
only 44 percent of total sales, declining from 51.5 percent in the
fourth quarter of 1978. Inports rose from 17 percent of the new car
sales market in late 1978 to 21.2 percent in the first three
quarters of 1979. Similar shifts in the sales of automobiles took
place following the oil embargo and energy price increases of
1973-74.
Despite recent large layoffs in a few industries,
employment data indicate continued strength. From September to
November, payroll enployment rose at a 2.6 percent rate, basically
unchanged from the period December 1978 to September. Unemployment
in November was the same as in September at 5.8 percent of the
civilian labor force.
TOTAL C IV IL IA N EMPLOYMENT
COMPOUNDtO ANNUAL RATES OF CHANGE
THOUSANOS
" Of PERSONS
I N I T I A L MONTH
TERM INAL
MONTH
4 -7 8
5 -7 8
6 -7 8
3 .2
6 -7 6
6 .1
9. 1
7 -7 8
3 .2
3 .2
-2 .4
8 -7 8
3 .3
3 .i
0 .5
9 -7 fc
3 ,4
3f3
7 -7 8
8 -7 8
9 -7 8 1 0 -7 8 1 1 -7 8 1 2 -7 8
1 -7 9
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
VJ.,9 53__
5 -7 6
*4 »6«*0
3 .6
_3j»*-.
3 .3
* 4 ,4 4 6
1 .9
V4j l ^ A
3 .6
3 .4
3 .7
9 5 ,0 1 0
3 .3
95 ,2 4 1
3 .0
11-76
9 5,751
J z -l*
1 -7 9
3 .7
3 .8
3 .0
4 .0
4 .0
4 .1
2 -7 9
3 .8
3 .8
3 .2
4*0
4 .1
3 »L _
3 .8
3 .9
1*.9
2 .4
2*3
3 -7 9
„3*7
4 -7 9
2 .6
2 .6
2_.6 ..-2*_5_
5 -7 9
6, 7y
7 -7 9
¿*8
2 .7
3 .0
3 .0
1 .9
2 .5
* 6 ,3 0 0
4 .5
3 .5
5 .7
4 .2
4 .5
3 .8
5 .1
4 .4
3 .9
4 .1
3 .5
4 .2
3 .4
2 .1
2 .0
1 .1
1*0
-0 .5
vt>, 647
2 .4 r
T
-2 .9
-8 .0
* 6 ,8 4 2
9 6 ,4 7 4
¿ .4
2 .3
2 .1
1 .9
1 .2
1 .2
0 .1
-1 .4
-3 .2
1 .8 ^ \
2 .7
2 ^6 _
2 .5
2 .4
1 .8
1 .9
1.1
0 .3
-0 .4
3 .7
5 .6
2 .9
2 .9
2 .8
2 .8
2 .3
2 .4
1.9
1 .4
1.1
4 .4
5 .7
5 . s V
9 0 ,3 1 8
V o ,754
V s i.z y o
9 7 ,2 1 0
8 -7 9
2 .5
2 .5
2 .0
2 .4
2 .3
2 .2
2 .1
1 .6
1 .6
1.1
0 .5
0 .1
2 .3
2 .4
0 .9
-3 .8
9 -7 9
2 .9
2 .8
2 .4
2 .6
2 .7
2 .6
2 .6
2 .2
2 .3
1 .9
1 .5
1 .4
3 .4
3 .8
3 .2
1 .9
7?9^\
1 0 -7 9
2 .5
2 .5
2 .1
2 .4
2 .3
2 .2
2 .2
1*8
1 .8
1 .4
1 .0
0 .8
2 .3
2 .4
1 .7
0 .3
2 .5
1 1 -7 9
2 .6
2 .6
2 .2
2 .5
2 .5
2 .4
2 .3
2 .0
2 .0
1 .7
1 .4
1 .2
2 .6
2 .8
2 .2
1 .4
3 .1
4 -7 8
5 -7 8
6 -7 8
7 -7 8
8 -7 8
9 -7 8 1 0 -7 8 1 1 -7 8 1 2 -7 8
1 -7 9
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
9 0 ,9 0 0
9 7 ,5 1 3
-2 / i \
0 .8
9 7 ,2 9 3
4 .4 1
f
9 7 ,0 4 0
I N I T I A L MONTH
PAYROLL EMPLOYMENT
COMPOUNOEO ANNUAL RATES OF CHANGE
THOUSANDS
OF PERSONS
I N I T I A L MONTH
js m f L
MONTH
4 -7 8
5 -7 8
6 -7 8
7 -7 d
0 -7 8
9 - 7 » 1 0 -7 8 1 1 -7 8 1 2 -7 8
1 -7 9
2 -7 9
3 -7 9
» -7 9
5 -7 9
8 6 .2 2 7
3 tg -
6 6 .5 9 0
5*2
_3-2___ ______ ZaÜ___ ¿i7__
2 .8
2 .1
JLÛrIê_
3 .4
2 .9
-JLlr-Tl
3 .8
3 .5
3*8
06.8 80
3jt±___ £jlL_
3 .4
3 .8
_ 3 .8 ____3 .6 ____4 i l _
_l ? - 7 8
- I tJSL
3 .8
3 -1 9
5 .5
5 .7
5 .9
5 .2
5 .0
4 .1
4 .4
4 .0
3 .9
3 »7
4 .1
3 .8
3 .7
4 .0
4 .2
4 .7
3 .9
3 .8
4 .1
4 .3
4 .7
6 7 ,8 40
6 8,1 33
88.4^3
jL t l ___
3 .9
3 .7
8 8,7 00
89,0 39
6V,9,36
7 -7 9 .
1 0 -7 9
3 .7
3 .7 ____3._5____3 .8 ____3 .9
4 .1
3 .6
3 . 6____3 . 5
3 .7
3 .8
4 .0
.J U S ____3*5
3 .3
3 .5
3 .6
3 .7
3 .3
3 .1
3 .3
3 .3
3 .4
3 .1
3 .0
3 .1
3 .1
3 .2
_3.6_
3 .8
3j.J>
8 9.3 98
_3_t3___________ 2 .4
3 .4
3 .3
8 9,6 26
3*2-
3 .2
8 9.7 13
2 .3
2 .6
2 .4
2*5
2 .3
2 .1
1 .7
2 .1
1 .4
_3±1____3*0___________ I ± 0 ____l i P ____3 ^ ___1 * 9 ____2*6____2 .5
2 .3
2 .2 ____ L*8
2 .1
1 .5
1 .1
1 .1
1 «4 ___ ¿ * 2 _
89.967P
2 .5
2 .4
2 .2
1 .9
1.8
1 .5
1 .6
1 .9
9 0 , 185P
9 -7 8 1 0 -7 8 1 1 -7 8 1 2 -7 8
1 -7 9
2 -7 9
3 -7 9
5 -7 9
6 -7 9
7 -7 9
-7 9
1 1 -7 9
4 -7 8
3 .0
2 .9
3 .0
3 .0
5 -7 8
6 -7 8
7 -7 8
8 -7 8
3 .1
3 .2
2 .9
2 .9
2 .8
2 .7
2 .7
4 -7 9
0 .6
0 .5
2 .6
9 -7 9 1 0 -7 9
I N I T I A L MONTH
P - PRELIMINARY
PREPARED 8Y FEDERAL RESERVE BANK OF S T . LOUIS
DECEMBER 7 , 1979
2
EMPLOYMENT
RATIO
RATIO
SCALE
MILLIO N S
1971
OF
PERSONS
1972
SEASONALLY ADJUSTED
1973
1974
1975
M ILLIONS
1976
19 77
1978
OF
SCALE
PERSONS
1979
SOURCE: U.S.D E P A R TM E N T OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIO DS IN D IC A T E D .
LATE ST DATA PLO TTE D : NOVEMBER P R E L IM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS
UNEMPLOYMENT
PERCENT
SEASONALLY
RATE
ADJUSTED
PERCENT
10.0
9.
8
9.0
.
8.0
7.
7.0
6.
6.0
5.
5.0
4.
4.0
3.
3.0
2.
2.0
SOURCEt U .S . DEPARTMENT OF LABOR
PERCENT OF C IV I L I A N LABOR FORCE
L ATE ST DATA PLOTTED« NOVEMBER
PREPARES BY FEOERAL RESERVE BANK OF S T . LO U IS
3
CUNSUMfcR PRICfc INUfcXf StASONALLY ADJUSTED *
__________________________CCIMPLttJNDEO ANNUAL R AILS OF LHAN6E-----------------TERMINAL
___________________________________________ 1M1T1AI
MONTH________________________
_____ 1967*100
MONTh
4-7C
f r - / 1?
?-{
/“ Ift»
t f - re
o -rv
-S -/ Y
Lti_ l r x z _
7“ U L - U t T Jfti JLL- Iti..
f-fv
2.-712. X U . -f Y .
193 . 4
1U ^ S
0 -7 b
1 0 .<♦
19*.. 0
ì lì.
190,» 2
7 -7 *
9 .5
Vi ifl
7 .0
_ 0 -7 b
0 .9
fti, i
7 .3
hi , V
V— 7 b
9 .1
rii
8.2
tti
IQ,
1 «Ml.. 9
10.
2 0 0 ,. 0
10— 7 b
9 .4
v.
tt.9
Vil i
11-7 b
9 .1
fi.,9
tt.O
hiit)
9,,4
9,. 1
7,,4
1 2 —7b
9 .0
ft.
8.0
h.lit
9,
fi,, 9
A.kfì
1 -7 9
9 .4
9^2»
9 .1
9. ,4
Yi, v
9, ■
A
9,
10 ■ft
h,. 7
r
%\
205,. 2
IQ ,
2 -7 9
10.0
1 Di. 0
9 .9
in.i i
1ft,»tt
1 0 1. 9
1 1 1if)
1 2 ., 2
14. iO
1
3 -7 V
1 0.3
1 Oi , 1
1 0 .3
1 0 ,, 7
11,
1 1 ,. 4
11.
1 ?.
13.t9
14 .0
13.5
%-7 9
10.6
I b i .7
1 0 .7
t i i ill
i I.
1 1 1, 7
I l i »V
12,
I l l ,9
1 4 .4
1 3 .7
i* > \ 1 3 ,2 %
5 -7 9
10.8
Hi. ,9
10. V
H i
1 1 .,7
1 1 <,9
l ? i .1
1 2 ,,9
1 3., 7
14 .1
13 .5
1 3.0
0 -7 9
11.0
1 1 . (J
11.1
1 1 .14
1 1 .,9
1 ?.•0
1 ?.
1 ?<19
1 Ì . ià
1 3.9
1 3 .4
13.4
13.1
1 3 .0
7 -7 9
11.1
1 1 ., I
11. Z
H i
1 1 1,9
IP.i l
l ? i i?
1 2 .i h
13. ,4
1 3 .0
1 3.2
13.1
12.8
1 2 .7
» >
a -7 9
11.2
1 1 .,?
1 1 .3
1 1 1,h
i / , >0
1 r i, 1
1 ?■
1 2. .h
13, »1
13 .5
13.1
1 3.0
12.8
1 2 .7
1 2.5
209, »V
2 1 2 .»2
¿ 1 0 .. 0
\
2 1 a.. 7
s
12.«
2 2 0 1»9
9 -7 9
1 1 .4
1 1. 4
1 1.5
1 1 .itt
Ì?»
1 ?.
I 2i
l i . iO
l à l i5
1 3 .0
13.3
13.3
1 3 .1
1 3.1
1 3.2
1 3.0
1 4.5
10-79
11.4
1 1. 4
1 1.5
1 1 a,7
I/ ,
l ? t »?
l ? i ,4
I ? i »H
1 7i.»2
1 3.1
13.1
1 3.0
12.8
12.8
12.7
12.8
12.«
11.3
11-79
11.4
1 1.,5
11.0
11.,h
1 2 ,.1
1 .3
12..4
1?..8 i 13.21
13-3
13.0
13.0
12.8
12.8
12.7
12.9
12.9
12.1
4— 7©
5-7 b
0 -7 8
7 -7 «
8-78
9—7 b 1 0 - 7 8
1-79
2 -7 9
3 -7 9
4— 79
5-79
6-79
7-79
8-79
9 - 7 9 10-79
1 1 -7 8
12-7 8
IN IT IA L
22 3 . .4
¿25. »4
ii.o\
227. .7
m o n th
«1P 1-Ì É FUR URBAN MA&fc EAkNfcKS AND C L E R I C A L HQRKERS
PREPARED bY FEDERAL RESERVE SANK OF S I* LO U IS
QfcCfcHttER ¿ 1 « 1979
PRODUCER PRICE INDEX* ALL COMMODITIES - SEASONALLY ADJUSTED
________________ COMPOUNDED ANNUAL RATES OF CHANGE
_______
TERMINAL_____________ _____________________________________________________ I N I T I A L MONTH____________________________________________________________________1967 » 100
MONTH
1 -7 9
5 -7 8
6 -7 8
7 -7 8
7 -7 9
8 -7 8
9 - 7 « 1 0 -7 « 1 1 -7 8 1 2 -7 8
2 -7 9
3 -7 9 4 -7 9
5 -7 9 6 -7 9
8 -7 9 9 -7 9 1 0 -7 9
4 -7 8
? -7 *
8*5
207*5
_ 7 -7 «
209*1
9 .7
..... 1±1.
T .8
7 .5
5 .3
210*0
8 -7 8
6 .8 _
6*3
4 .7
4*1
9 -7 8
7*5
7*3
6 .5
7*1
10*1
1 0 -7 8
8*6
8*7
8 .4
9*5
12*3
1 1 -7 8
8*8
8*9
8 .7
9*6
11*5
12*2
9*9
12 -78
8 .9
8 .9
8*8
9*5
10*9
1 1 .2
9*6
9*2
1 -7 9
9*8
9 .9
1 0 .0
10*8
12*1
1 2 .6
12*1
13*1
17*2
2 -7 9
10*6
10*8
1 1 .0
11*8
13*1
13*7
13*6
14*8
17*7
1 8 .2 s
2 1 0 .7
212*4
14*4
2 1 4 .8
210*5
218*1
2 2 1 .0
2 24 .1
3 -7 9
11*0
11*3
11*4
12*2
13*5
14*0
13*9
15*0
16*9
16*8
15*5
W 9
11*4
11*7
11*9
1 2 .6
13*8
14*3
14*3
15*1
*6*7
16*5
15*7
1 5 .9 s
5 -7 9
11 *2
11*5
11*6
12*3
13*2
13*6
13*5
14*1
15*1
14*6
13*5
12*5
_ $“ 79
JU U S
1 1 .3
11*9
12*7
13*0
1 2 .8
13*3
13*9
13*3
12*1
11*0
8*7
..V
7 -7 9
11*5
11*7
11*9
12*5
1 3 .3
1 3 .6
13*5
14*0
14*6
14*2
13*5
13*0
12*0
13*4
1 9 .0 s
8 -7 9
11**. ..1 1 -6
il_ .e
12*3
13*0
13*3
13*2
13*5
14*1
13*6
12*9
12*4
11*5
1 2 .3
14*5
10*1
_ l.L .9 _!_2±2 JL * f3
12*8
9 -7 9
1 0 -7 9
..U iL
1 1 -7 9
12*3
4 -7 8
-lit ?
2 26 .8
2 2 9 .6
• > 4 4 .9 %
231*3
2 3 2 .8
236 *2
230*1
1 3* 6
13*8
13*8
14*2
14*7
14*4
13*9
13*7
13*2
14*2
16*4
1 5 .1
20^3^^
241*8
5
12*7
13*2 _ L 3 .8
14*1
14*1
14*5
15*0
14*8
14*4
44*2
14*0
14*9
16*7
1 5 .9
1 9 .0
1 7 .7
245*1
1 2 .6
12*7
13*2
13*9
14*1
14*1
14*5
1 4 .9
14*7
14*3
14*2
14*0
14*8
16*2
1 5 .5
1 7 .3
1 5 .8
6 -7 8
7 -7 8
8 -7 8
9 -7 8 1 0 -7 8 1 1 -7 8 1 2 -7 8
1 -7 9
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
Ut
5 -7 8
14.1^1
I
247 .8
I N I T I A L MONTH
PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
DECEMBER 6 » 1979
4
PRICES
R A T I O SCALE
1967-100
R A T I O SCALE
1967-100
SEAS O N ALLY AOJU STEO
I1 C P I-U FOR A LL URBAN CONSUMERS
I2 .C P I-» FOR URBAN WA6E EARNERS AND C L E R IC A L WORKERS
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PER IO D S
LATE ST DATA P L O TTE D :
IN D IC A T E D .
NOVEMBER
PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS
PRODUCER P R I C E S
RA TI O SCALE
1967-100
26 0
1971
R A T I O SCALE
1967-100
260
S E A S O N ALLY ADJUS TED
1972
1973
1974
1975
1976
1977
1978
1979
PERCENTAGES ARE AWttAL RATES Of CHANCE FOU PERIOM I«»I CATED.
LATEST BATA PLOTTED. WVEttUR
PttfAM* BY FEDERAL RESERVE RANK OF ST. LORIS
PRODUCER PRICE INDEX» IN D U S TR IAL COMHOOITIES - SEASONALLY AOJUSTkO
____________
COMPOUNDED ANNUAL RATES OF C H A N G E _________________
TERMINAL
MONTH
__
4 -7 6
5 -7 6
6 -7 6
7 -7 6
6 -7 8
.
_________________ I N I T I A L HONTH
9 -7 8 1 0 -7 8 1 1 -7 6 1 2 -7 6
1 -7 9
2 -7 9
_
_____
3 -7 9
4 -7 9
3 -7 9
_
6 -7 9
7 -7 9
6 -7 9
9 -7 9 1 0 -7 9
20/>1
6-7 a
___ ?«lQ
JS jl 8____9*0
tt-79
____8*^____6*3
V—76
210*1
9 .0
8*4____6 ,3
6*1
2 11 >4
7*7
7 .7
2 1 2 .7
■I t »
2 1 4 .5
- I l l ___ 8«6
1 1 -7 8
_ *± 0 ___ 9 , *
8*9
8*6
____9*7
9*8
10*3
11*0
11*1
11*6
10*3
10*5
11*0
11*7
11*9
12*6
i -7 ?
2 -7 9
1 0 .0
- 3 - 7 ? ____10*4
1 0 .2
1Q*6 _1Q_&1L
-± = 2 2 ____L U f l L - l l t ?
5 -7 9
2 1 o .2
|0 * 3 _
J U 1 ____8*8____6*8
_ U .« 4 .
9*1____ 9*5____9 . 0
l l tO . . l U ft
6*1
U *2. Uw?
15*3
14*9
...JAjA.
222.7
1 4 .5 \
.14 *7
1 4 ,9 ^ x
lit ?
IZ t3
\?±Q.
I3 t4
|4 f j ,
ASL « f e _ l ? t 7_ tfett4
47,9
1 2 .2
12*7
13*3
13*7
14*4
15*7
16*8
fr-7 9 ____L i .f r
1 1 .6
12*0
1 2 .3
12*8
13*4
1 3 .7
1»*3
15*3
15*4
15*6
1 5 .8
1 4 .8
13*8
-7 = 7 ? ____1 2 .4
12*7
13*0
13*5
14*1
1 4 .5
1 5 .1
16*1
1 6 .2
1 6 .6
1 7 .0
1 6 .7
1 7 .2
2 0 .7
1 2 .4
1 2 .7
1 2 .9
1 3 .2
1 3 .7
1 4 .3
1 4 .7
1 5 .2
1 6 .1
1 6 .2
1 6 .5
1 6 .8
1 6 .6
1 6 .9
1 6 .5
~9~7V____12*6
1 3 .1
13*3
l* .l
1 4 .7
1 5 .0
1 5 .6
1 6 .4
16*6
1 6 .9
1 7 .2
17*1
17*4
18*6
---- ____________
1 3 .6
-J L 2 4 *»
1 1 -7 9
— * .r t
.
* r **
*
16*2
15*7
231.2
1 1 .9
6 -7 9
15*7
0 6 .6%
11*6
>7
—f • • T .
1 6 .3 ^ ^
17*6
„¿43.f»..
18*9
4TU * 4
_ » 7 .1 /
1 3 .2
1 3 .5
1 3 .8
1 4 .1
1 4 .5
1 5 .0
1 6 .6
1 6 .7
1 6 .9
1 7 .2
17 .1
1 7 .3
18*0
17*3
17*7
17*1
4 -7 6
5 -7 6
6 -7 6
7 -7
6 -7 6
9 -7 8 1 0 -7 6 1 1 -7 6 1 2 -7 6
1 -7 9
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
6 -7 9
9 -7 9 1 0 -7 9
to
1 5 .4
1 5 .8
1 1 .2 s*
2 S > (U *
IN 1 T IA L MONTH
PRODUCER PRICE INDEX» FARM PROOUCTS £ PROCESSED FOOOS 6 FEEDS - SEAS* A D J.
_________________________ COMPOUNDED ANNUAL RATES OF CHANGE_________________________ ___
______
TERMINAL
MONTH
_
W t t . 1 -7 »
* r2 6
ftr -Ifi- 7 -7 9
g- ? e
I N I T I A L MONTH
9 -7 9 10 -7 6 n - 7 | . l ? - 7 8 _ _ L - 79_. ? -7 9
___
_______
3 -7 9
4—7?
.... Jt± 4_.
1967 « 100
5 -7 9 _ . fr-7 9
7 - 79
6 - 7 9 _ 9 ± 7 9 _ A 0 -.I£ .
20o*3
-
*<ML*7__.
7 -7 6
3*6
6 -7 8
0*3
2 .9
-1 * 4
2 0 7 .3
-7 .8
—8 *6
-9 .4
2 0 5 .6
9 -7 6
4 .4
4 .1
0 .8
5 .3
22*5
1 0 -7 6
8*5
9*2
7 .8
1 3 .6
2 7 .2
32*0
2 0 9 .1
1 1 -7 8
8*6
9*1
8*0
12*3
2 0 .7
19*8
2 1 4 .0
8*7
2 1 5 .5
1 2 -7 6
9 .0
9 .5
6 .6
1 2 .2
18*4
1 7 .1
10*2
11*7
1 -7 V
10*6
11*3
1 0 .7
14*2
19*6
1 6 .9
14*8
17*9
24*4
2 -7 9
12*7
13*5
1 3 .4
16*6
2 1 .6
2 1 .7
19*2
22*9
28*9
2 1 7 .5
2 2 1 .5
2 2 6 .9
33*5
3 -7 9
13*5
14*3
1 4 .2
17*3
2 1 .7
2 1 .»
19*6
22*5
26*4
27*3
21*4
4 -7 9
1 2 .6
13*3
1 3 .1
15*7
19*3
1 8 .9
16*8
16*5
20*3
16*9
12*2
5 -7 9
10*7
1 1 .1
1 0 .8
1 2 .6
1 5 .6
1 4 .8
12*5
13*1
13*4
10*8
4*1
-3 * 6 - 1 0 *4
6 -7 9
9*1
9 .4
8 .9
1 0 .6
1 2 .8
1 1 .6
9*5
9*6
9*2
6*4
0*5
-5 .6
.... 7 - 1 ? . .
9*1
9 .4
9 .0
1 0 .5
1 2 .5
1 1 .6
9*5
9 .6
9*3
7*0
2*3
8 -7 9
8*0
8*2
7 .8
9 .1
1 0 .7
9*7
7*7
7*6
7*1
4 .8
0*7
_ 9 -7 9
8*6
9*0
6*6
9 .9
11*5
10*7
8*9
6 .9
8*6
6*6
1 0 -7 9
8 .2
8*4
8*0
9*2
10*6
9*8
8*1
6 .0
7*7
1 1 -7 9
9*1
9*3
9*0
I0 t |
U »6
10*6
9*4
9*2
4 -7 6
5 -7 8
6 -7 8
7 -7 8
8 -7 8
9 -7 1 1 0 -7 8 1 1 -7 8 1 2 -7 8
2 3 0 .6
3*7
2 3 1 .4
2 2 9 .2
-9 .9
-9 .5
2 2 7 .3
-1 * 9
-3 * 8
-0 .3
9 .9
-3 * 0
-4 * 6
-2 .»
1*1
-7 * 1
3*4
0*7
0*1
2 .9
7 .4
6*2
5*9
2*9
0 .5
0 .0
2 .2
5*4
3*9
9 .9
-0 .5
7 .8
5 .3
3*4
3 .4
5*8
9*2
9*0
1 5 .0
12*0
1 -7 9
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
22 V . 1
2 2 7 .7
21*3
2 3 1 .4
2 6 .0
2 3 5 .6
I N I T I A L MONTH
PREPARED BY FEOERAL RESERVE 6ANK OF S T . LO UIS
D E C E M 6 « » « 1979
6
INDUSTRIAL
RATIO
PRODUCTION
RATIO
S CALE
1971
1972
1973
1974
1975
1976
PERCENTAGES ARE ANNUAL SATES OF CHANGE FOR PER IO D S
SCALE
1967-100
SEASONALLY AOJUSTED
1967-100
1977
1978
1979
IN D IC A T E D .
LATEST DATA PLO TTED : NOVEMBER P R E LIM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS
INDUSTRIAL PROOUCTION
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
MDnT R
5-7 8
1967 «
IN I T I A L MONTH
4 -7 8
¡>—78
6 -7 8
7 -7 8
8— 7a
9 -7 8 1 0 -7 8
1 1 -78 1 2 -7 8
3 .4
7.3
1 1 .3
7 -7 8
7 .7
9 .9
8 -7 8
7 .7
9 .1
e .i
7 .6
9 -7 8
7.1
8 .1
7 .0
6 .3
5 .0
10-78
7 .5
8 .3
7 .6
7 .3
7 .1
9 .3
1 1 -7 »
7 .5
8 .2
7 ,6
7 .3
7 .2
8 .4
12—76
7 .8
i>—7tt
6 -7 8
7 -7 8
t>— 78
6.0
¿-79
6.2
3—79
6 .5
¡»-79
4 .«
5—79
5 .1
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
100
9 -7 9 1 0 -7 9
1 4 ^ .8
6 -7 8
ir79
1 -7 9
1*6.1
8 .5
14 7.1
148.0
1 4 8 .6
149.7
7 .5
b—79
7-79
•».c
b—79
3.7
9-7 9
3 .9
10-79
3 .7
11-79
*.1
t»-7t>
9 -7 8 1 0 -7 8
1 1 -78 1 2 -7 8
In
1 -7 9
it ia l
2 -7 9
m o n th
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
8 -7 9
9 -7 9 1 0 -7 9
~
P - PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS
DECEMBER 1 4 , 1979
7
P E RSONAL
RATIO
TRILLIONS
2. I
I NCOME
M O N T H L Y T O T A L S AT A N N U A L R A T E S
SCALE
SEASONALLY AOJUSTEO
OF D O L L A R S
RATIO
TRILLIONS
SCALE
OF D O L L A R S
2. i
1
*/o.
?.0
.9
\
/ y
/ T .9 9 9 4
.8
/
.7
.6
/
+n.
.5
/
/
.4
/ S
.3
+r. rx/
.2
1
+H.6Z
.0
0.9
^
SJ
\\I
OCT. V 7
0.8
t
1971
4M.
MW. ‘
11
1972
1973
1974
f' SMOV.
1L ♦
1975
1976
1977
1978
1979
SOURCE: U .S . DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER IO DS IN D IC A T E D .
LATEST DATA PLO TTED : NOVEMBER P R E L IM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS
PERSONAL
IN C O M E
-COMPOUNDED ANNUAL AATfcS QF CHAEftfc
B IL L IO N S
T E R M IN A L
MO NTH
ANNUAL
_________ *-79
7 -7 « J r Zft. » - 7 8 1 0 -7 « 11—78 12—76__ 1 -7 9
2 -7 9
3 -7 9
4 -7 9 __ 3 -7 9
6 -7 9
7 -7 9
6 -7 9
OF
RATES
9 -7 9 1 0 -7 9
-M f l L
6 -7 8
1 0 .3 __ 1 2 .7
. 7-76___ 13.4
16*2
19.8
lt73U.ifr
1 « 7 4 1 . .3
1 1 7S>e.l
1 0 -7 8
1 2 .9 __ 1 3 . « __ 1l â l ___1 2 .3
1 1 -7 8
1 1 .1
14^0
4 -7 8
5 -7 8
6 —78
7 -7 8
1 4 .S ___lB -^ t
8 -7 8
9 -7 8
1 0 -7 6 11 -7 8 1 2 -7 8
1 -7 9
IN IT IA L
2 -7 9
3 -7 9
4 -7 9
5 -7 9
6 -7 9
7 -7 9
6 -7 9
9 - 7 V 1 0 -7 9
MONTH
P - PRELIMINARY
PREPARED BY FEDERAL REStKVfc BANK UF S T . LOUIS
OECEMBER 1 6 , 1979
8
R E T A I L SALES
R A TIO
R A TIO
SCALE
B IL L IO N S
1971
OF
...-SEASONALLY AOJUSTCO
DOLLARS
1972
1973
1974
1975
e I .i IO N S
1976
1977
OF
1978
SCALE
OOLLARS
19f9
SOURCE* O.S. DEPARTMENT OF COMMERCE
PERCENTAGES ar e a n n u a l ra t e s of c h a n g e f o r f e r i o o s In o Ic a t e ».
LATEST OATA PLOTTEOt OCTOOER, NOVEMOER AOVANCE ESTIMATE
FREFAREO IV FEDERAL RESERVE RANK OF ST. LOOIS
HETAIL SALES
COMPOUNOEO ANNUAL HATES Of CHANCE
W1LHONS O f
IN IT IA L MONTH
ItKHlMAL
“ MÜWTm“
4 -7 b
3-7to
6 -7 b
7-7©
b -7 8
V -Ì # 1 0 -7 » 1 1 -7 » 12-7*
1-79
2 -7 V
3 -7 »
4 -7 9
5 -7 9
» -7 V
7 -7 9
8 -7 9
9 -T 9 I O » W
»»♦»22
7*2
»3*9 »4
^ -7 b _
7—7 »
0 -70
V—78
6*» 4«»
10#3 11*'
11.2 1 2 .2 13.5
o»*22»
6* »
.
1 0 -7 »
12 1
13.1
» 7 »iU i
o»*0»3
18.1
W .9
14*3
17*7
15.8
1 » .8
1 8 .9
»*•971
70*13»
11-7*
13.5
1 4 .7
1 5.9
18.1
I V *7
22 .7
12-78
1 3 .t
14.«
17.V 17 »0
1 5 . » ____________
17.7
18.2
lJ .t t
1-7V
11. V
12.3
13*0
11*4
:-7 9
11*1
Í-7 V
11
14.3
13*1
12*7
__ ^
70 #91»
» .1
-1 .1
70*855
5 .»
1 .7
4 .»
8 .3 __ »*5
10.5
11.6
1 2 .0
13 .0
11.7
11.0
9*7
.«
12 .)
12.5
13.5
1 2.4
12.0
11 .0
4 -7 V
4 .5
v .b
9 .V
1 0.5
V .2
8 .4
7 .1
4 .2
l.V
2 .9
2 .1 -1 0 .7
5-7 V
V .t
9 .8
9 .9
10 .*
9 .2
8 .»
7 .4
5 .1
3 .4
4 »»
4 .5
-1 * 1
V .2
8 .1
7 .3
» .2
8.8
«•V
8.V
7-74
8. V
9 .3
8 .2
7 .»
*>-7v
10. *
11*.
1 1 .4
i j. v ^
11.1
10.8
>-7v
.«
71*122
1 » .7
72*045
F1*3»»
71*914
9 .»
4 .1
2 .5
3 .2
2 .9
> 1 .3
4*8
3 .5
4*3
4 .3
1 .4
5 .7
3 .9
9 .9
71*803
1 0 .2
8 .9
8 .3
9*7
1 0 .»
9 .4
15.1
1 7 .0
2 7 .7
48.5
72*370
74*7»»
I 2 *î
12
13.1
13.0
12 .7
1 1 .7
11.5
13,1
14.4
14«0
19.7
2 2 .»
3 1 .0
»4 .3
10-7
1 0 .5
10.6
1 0 .8
1 1 .2
10.5
10.2
9 .»
8 .5
8 .0
9 .1
9 .»
8 .7
12.3
12 .0
!» .•
19*2
11-7V
11.r
11*«
ll.f
12.0
11.4
11.1
10.7
9.7
10.5
11.2
10.5
13.9
1 » .»
10.2
2 0 »»
12.3
fc-7»
T —75“ » - 70
11-10 12-F0 i-7»~gary- 3 -79 — *¿19
5 -79
6-19
7-1 »
0 -1 »
#-7v
♦-78
-7 »
13* 1_ lj* 7 _
9=70 I0 -7B
-CEL
4 0 .2 ^ s ^
7»*9*V
f5*«20t>
» . » -1 8 .6 “
0 .5
2 » .l\
IO -f f
------------------ m rilA L MUNIH
f - PHEc IHINAk Y
t - t ST 1HAU t,
" WtePAKfcD 0T l^OMIAL HkStHV* U M 0F "5T .
OECEN0Eft 11* 1979
9
7»*992E
HOURLY COMPENSATION, PRIVATE BUSINESS SECTOR
COMPOUNOEO ANNUAL RATES OP CHANGE_________
-JER H1NAL
QUARTER
4 -7 »
1 -7 5
2 -7 5
3 -7 5
4 -7 5
1 -7 »
2 -7 6
3 -7 6
* -7 6
1 -7 7
2 -7 7
3 -7 T
4 -7 7
1 -7 6
2 -7 8
3 -7 8
* -7 8
1 -7 »
2 -7 » _
-U frt
ioo,5
3-76
8 ,»
8.5
4-76
8.*
8.5
1-77
8,8
8.5
2—77
8*5___ 8^2__ 8.2 _ 8 ,6_
4-77
8,3
8,1
¿03 »6
_2±o_
8,0
8,3
.7 .».__ 7*8
8 ,5____
8,2
¿ 0 7,7
8 » 6 ___ 8 » 6
_i^2___ 6iL_
8 .2
8.1
8 ,0 ___ Lt7___ 7 ^
7 ,»
7,8
7,6
7,3
2 1 0 ,6
8 .8 % 7,4
7,0
6,1 \
210,5
¿¿4,1
_ l-7 8 _
8,5
8,3
8,3
8,6
8,5
8,3
8,2
8,2
8,0
7 ,»
8,6
8,4
. 2-78 _
8,5
.8*3
8,3
8,5
8,5
8,2
8,2
8,1
8,0
7 .»
8,4
8.3
» .4
3-78
8,5
8.4
8,3
8,6
8,5
8.3
8 ,3
8,3
8,2
8,1
8, 6
8.5
» .3
8.6
9 . 2 ^
¿43,6
4-70
8j5__ 8 ,4
8.3
8,6
8,5
8 ,4
8 ,3
8.3
8,2
8*2
8,5
8,5
» .I
8.5
8,9
239,*
1 -7 »
8,7
8,5
8.5
8 ,7
8,7
8,8
8,6
8,6
8,5
8,6
8 ,»
8 ,»
» .5
» .2
» .6
» ,6
1 1 ^ \
2 -7 »
8,7
8 .6
8 .6
8,8
8,8
8,6
8 .6
8,6
8,6
8,6
» ,0
» ,0
» .5
» .2
» .5
» ,6
10,2
9 ,3
. 8 , 7 . . . 8 ,6
8 ,6
8, 6
8,8
8.6
8.6
8,6
8,6
8,7
8 ,»
» .0
» .4
9.1
» .4
» ,4
9 ,7
9 ,0
2-75
3-75
4-75
1-76
2-76
3-76
4-76
1-77
2-77
3-77
4-77
1-78
2-78
3-78
4-78
1 -7 »
2 -7 »
3-78
4-78
1 -7 »
2 -7 »
3 -7 »
W 4
1-75
10.9 \
220,5
2 4 4 ,b
250,3
8 ,7 s»
255,6
IN ITIA L QUARTER
OUTPUT PER HOUR OF ALL PERSONS, PRIVATE BUSINESS SECTOR
____________ COMPOUNOEO ANNUAL RATES OP CHANGE______________
t e b m in a l .
_________ ____________ M I I .U H QWM*Tfe*_________________________
QUARTER
4-74
1-75
2-75
3-75
4-75
1-76
2-76
3-76
4-76
1-77
2-77
3-77
4-77
1-78
2-78
lig g * J L U ± iL 1 1 * ,4
lla ,7
115,8
2-76
116,2
1.7
3-76
4 ,0
4 ,5
3.0
2.0
3 .5
4-76
3.7
4 .1
2.8
2 .0
3,1
1.6
1.7
1.7
1 17,4
1-77
3.8
4.1
3,1
2 .4
3,4
2,3
2 ,6
3,1
118,5
2-77
_3,2_
3 ,4
2 ,4
1,7
2,4
1,4
1,5
1.4
_3,4
_ 3*6_
2,7
2,2
2,1
2,2
2.3
1.6
H o ,7
2.5
1.5
5.2
4-77
2 ,»
3,1
2,2
1.7
2,2
1.5
1.5
1,4
1.4
0.3
1.5
-2 .0
l-7 b
2.6
2,7
1 .»
1.4
1,8
1.1
1,1
1.0
0,8
-0 ,1
0 .6
-1 .7
2.-T8
2.5
2,7
1,9
1.4
1,8
1.2
1.2
1.1
1,0
0.3
0.9
-0 .4
0,3
2,0\v
3-78
2,5
2,6
2.0
1.5
1 ,»
1.3
1.3
1.3
1,2
0.7
1.2
0,3
1.0
2.2
?•+
f?.5_ 1*8
r a "T 1.8
1,4
1.1
1.2
1.2
1.2
1,1
0.6
1.1
0,3
0,8
1.6
1.3
0.9
0 .8
0 .7
0,6
0.2
0.5
-0 ,3
0,1
0 .4
-0 .1
-1 ,3
_ 4—7tt
1—79_
lit),*
-1 .3 ^ ^
«
119,0
119,7
X
o > w
-3 ,0
lltt.V
- 2 .7
-2 .3 ^ \
110,2
-1 ,4
-2 ,0
-1 ,5
—0.7^
lld .O
3-78
4-78
1 -7 »
2 -7 »
2,1
1.5
2—79
1,8
1 ,»
1.3
0,9
1,1
0.6
0 ,6
0.5
0,3
-0 .1
0.1
—0,6
-0 ,3
-0 .1
-0 ,7
-1 .7
3-7?
.1*7
.*•?
1.2
0,8^
1,0
0,5
0 ,5
0 ,4
0,2
-0 ,2
0.0
-0 ,6
-0 ,4
-0 .2
-0 .7
4-74
1-75
I —76 " 2-76
3-76
4-76
1-77
2-77
3-77
4-77
1-78
2-78
2 -7 5 ' 3-75"' 4-75
119,0
: 2 .0 %
_2,l.
n
IN ITIA L QUARTER
PREPARED BY PtOERAL RESERVE BANK OP S I , LOUIS
NOVEMBER 2 8 , 1 » 7 »
10
P R O D U C T IV IT Y , COMPENSATION, AND LABOR COSTS
RATI O SCALE
1967-100
1971
R A T I O SCALE
1967-100
SEAS O NALLY ADJU S TED
1972
1973
1974
1 975
1976
1977
1978
1979
SOURCE» U.S. DEPARTMENT OF LABOR
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR FERIOOS INO ICATEO.
LATEST OATA PLOTTEOt 3RD QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
U N IT LABOR C O S TS , PRIVATE BUSINESS SECTOR
CONPOUNOEO ANNUAL RATES O f CHANGE
I N IT IA L QUARTER
TERMINAL
QUARTER
4 -7 4
I -7 5
2 -7 5
3 -7 5
4 -7 5
1 -7 »
2 -7 6
> -7 6
4 -7 6
1 -7 7
2 -7 7
■A
3 -7 7
4 -7 7
1 -7 8
2 -7 8
3 -7 8
W B
1 -7 »
i t i . « 129
2 -7 9
PREPAREO BY fEO EKA L RESERVE BANK O f S I* U IU IS
NOVEMBER 2 8 , 1 » 7 »
11
GROSS NAIIONAL HKGOUCI IN CURRENT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
* -7 *
1 -/5
2 -7 5
3 -7 5
* -7 5
1-75
0*6
2 -7 5
6*5
12*6
3-75
10.*
15*6
10*6
* -7 5
10*0
1 3.3
13 .7
9 .0
1 -7 6
10*9
I**7
1 4 .0
1 1.6
14.7
1 2 .4
12*3
10 .3
10 .9
2-7 6
3-76
4-76
1-77
2-77
3-77
4-77
1-76
2-76
3-76
4-76
1-79
2-79
3-79
blLLlU N S OF
OOLLARS ___
ANNUAL RATES
IN I T I A L QUARTfcK
UKM 1NAL
QUAktE*
10.3
10.0 11.6 11.4
10.0 11.4 ua
10.6 11*9 11.7
10.6 12.0 J M
10.9 12.0 11.9
10.7 11.7 11.6
10.5 11.4 11.3
11.2 12.0 12.0
11.2 12.0 11.9
11.4 _12.1 12.1
11.3 12.0 12.0
11.1 11.7 11.7
11.1 11.7 11.7
"4=7* 1-75 2-75
1-76
2 -7 »
3-7o
*—76
1-77
2-77
3-77
» -7 7
1 -7 »
2-76
3-7*
4 -7 «
1-7 9
2 -7 9
1,*»6.6
4,5V».Q
9.7 9.9
9.7 9.9
10.6 11.0
11.0 11.3
11.1 11.4
10.6 11.1
10.6 10.6
11.4 11.6
11.4 11.6
11.6 11.6
11.5 11.7
11.2 11.4
11.3 11.4
3-75"4—75
4,653.7
7.7
6.3
10.1
10.6
10.9
10.6
10.3
11.3
11.3
11.6
11.5
11.1
11.2
1-76
6.0^
6.9 9.7
11.0 12.5
11.5 12.6
11.6 12.5
11.1 11.7
10.7 11.2
11.6 12.4
11.7 12.2
12.0 12.5
11.9 12.3
11.4 11.6
11.5 11.6
2-76
5-76
1»663.1
1,715.6
1,756.1
1,»¿0.4
1,076.0
1,930.5
1,971*3
2,011.3
c,104*2
2,159.6
¿,¿35.2
¿,292.1
2,329.6
2,396.5
15.4^^
14.1 12.6
13*5 12.5 12.1
12.3 11.2 10.4
11.5 10.5 9.7 6.5 6.i\
12.6 12.3 12.2 12.2 13.9 19.6\
12.5 12.1 11.9 11.9 12.9 15.3 n. o \
12.6 12.5 12*4 12.4 13.4 15.1 12.6 14.6 V.
12.6 12.2 12.1 12.1 12.6 14.0 12.1 12.6 10^6^9.7%
12.0 11.6 11.4 11.3 11.6 12.5 10.7 10.6 6.6 6.?^
12.0 11.6 11.5 11.4 11.6 12.4 11.0 11.0 |\-J
9.7| 9.3
4-76 T-77 ~2-77 T"-77~"4 -7 7 " 1-76 2 -7 « 3-76 4-76 1-79 2-79
GRUSS NATIONAL PRODUCT IN 1972 DOLLARS
COHPOUNOEO ANNUAL RATES OF CHANGE
TERN INAL
QUAftfER
»-7 4
1-7 5
-9 .0
2-7 5
-1 .6
BILLIONS OF
_____________ __ ____________________________ !________IN IT IA L QUARTER_____________________________ __ ____________________________ OOLLARS
ANNUAL RATES
1-7 5 2 -7 5 3 -7 5 4 -7 5
1-76 2-76 3-76 4-76 1-77 2-77 3-77 4—77 1-76 2-76 3-76 4 -7 6 1 -7 9 2 -7 9
1 ,1 7 1 .6
1 ,1 6 9 .9
6 .4
1 ,2 2 0 .0
3 -7 5
2 .3
6 .4
10.5
4 -7 5
2 .4
6 .5
6 .5
2 .6
1-7 6
4 .0
7 .5
7 .9
6 .6
1 0 .7
1 ,2 2 7 .9
1 ,2 5 9 .5
1 ,2 6 7 .4
2 -7 6
3 .7
6 .5
6 .5
5 .2
6 .5
3 -7 6
3 .6
5 .9
5 .6
4 .7
5 .4
2 .6
3 a V
4 -7 6
3 .6
_5.6
5 .4
4 .4
4 .9
3 .0
3 .3
1,27 7 .1
3 .5
&,266.1
4 ,3 1 * .7
1 -7 7
4 .2
6*0
5 .9
5 .2
5 .7
4 .5
5.1
6 .1
2 -7 7
4 .2
5 .6
5 .6
5 .1
5 .5
4 .5
5 .0
5 .7
6.6
4 > v ^ .6 %
3 -7 7
4 .5
6 .0
5 .9
5 .3
5 .7
4 .9
5 .4
6 .0
6 .9
5.9
7 .0 \ ^
1 ,3 5 3 .9
4 -7 7
4 .3
5 .6
5 .5
5 .0
5 .3
4 .5
4 .9
5 .2
5 .7
4 .6
4 .6
4,3 6 1 .3
-
1 ,3 31 .2
1,36 7 .6
1-76
4 .1
5 .3
5 .2
4 .7
4 .9
4 .2
4 .5
4 .7
4 .9
4 .0
3 .7
2.1
2 -7 6
4 .4
5 .5
5 .4
5 .0
5 .2
4 .7
4 .9
5 .2
5 .5
4.6
4 .6
4.1
5 .0
6 .3 V
1 ,39 5 .2
3 -7 6
4 .3
5 .4
5 .3
4 .9
5 .1
4 .5
4 .8
5 .0
5.2
4 .6
4 .5
3.9
4 .5
5 .9
4 ,* 0 7 .3
4^76
4*4
5 .4
5 .3
4 .9
5 .1
4 .6
4 .6
5 .0
5 .2
4 .7
4 .7
4 .3
4 .6
5 .6
4 .6
5 . 6 ^ V—
_1—79
4 .2
5.1
5 .0
4 .7
4 .6
4 .3
4 .5
4 .6
4 .6
4 .3
4 .2
3.7
4 .1
4 .6
3 .4
3 .3
'i > \ P . 6 %
1 ,* 3 0 .6
2 -7 9
3 .9
4 .7
4 .6
4 .2
4 .3
3 .6
3 .9
4 .0
4 .0
3.5
3 .4
2 .9
3 .0
3 .2
1 .9
1.4
-0 .6
4 ,* 2 2 .3
-A n ™
3 .6
4 .6
4 .5
4 .1
4 .2
3 .6
3 .9
3 .9
4 .0
3.5
3 .3
2.9
3.0
3 .2
2*2
1.6
0 .6
0 .4
* -74
1 -7 5
¿ -t 5 " 3 - f 5 " 4 -7 5
1-76
2-76
3-76
4-76
i= n
2-77“ 3-77 "*-77
1«=7S
2-76
3-76
4 -t 6
1 -7 9
4 ,* 2 6 .6
-2 .3 ^
3 .1 ^
1 ,*3 3 .3
2-?V
T nI T I al QififtTfeR
FftfepARgO ftV ffeOMAL ftfcifc*V£ »AWT OF ST. LOUT T
DECEMBER 19» 1979
12
GROSS N A T I O N A L PRODUCT
RAT 10 S C A L E
T R I L L I O N S OF
2
2
QUARTERLY TOTALS AT ANNUAL RATES
R A T I O SCALE
D OL L A R S
SEASONALLY ADJUSTED
T R I L L I O N S OF D O L L A R S
2.5
.4
.3
2
2
2
2
. 2
.
I
.0
.9
.8
.7
.6
.5
.4
.8
.7
.6
.5
1. 4
1. 3
I . 2
I .0
0.9
1971
1972
1973
1974
1975
1976
1977
1978
1979
SOURCE: U.S. D EP A R T M EN T OF C O M M E R C E
P ERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTED: 3RD QUARTER
PREPARED BY FEDERAL RESERVE BANK OF S T .
13
LOUIS
GENERAL
RATIO
PRICE
INDEX*
SCALE
RATIO
I 9 72- 100
SCALE
1972-100
1971
1972
* A S USED IN NATIONAL
1973
1974
1975
1976
INCOME ACCOUNTS
1977
SOURCEt U .S .
1978
1979
DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAt RATES OF CHANGE FOR PER IO D S IN D IC A T E D .
LATEST DATA PLO TTED : 3RD OUARTER
PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS
IM P L IC IT PRICE DEFLATOR FOR GROSS NATIONAL PRQOUCT
COHPDUNOED ANNUAL RATES OF CHANGE____________
TERN I N
QUARTER
A
* -7 *
L
_____________________ ____________________________________ IN I T I A L QUARTER_________________________________________________________________ 1972 « 100
1 -7 5
2 -7 5
3 -7 5
1 -7 5
1 0 .6
2 -7 5
8*2
5 .9
3 -7 5
7*9
6 .6
7*3
*— 75
7 .5
6 .5
6 .8
6 .2
4 -7 5
1 -7 6
2 -7 6
3 -7 6
4 -7 6
1 -7 7
2 -7 7
3 -7 7
* -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 -7 9
2 -7 9
124.16
125.95
1 2 6 .1 9
130.14
1 -7 6
6 .7
5 .8
5 .7
4 .9
3 .6
2 -7 6
6 .*
5 .5
5 .4
4 .8
4 .1
4 .6
3 -7 6
6 .1
5 .*
5 .3
4 .8
4 .3
4 .7
*—76
6 .1
5 .5
5 .4
5 .1
4*8
5 .2
5 .4
6*1
1 -7 7
6 .1
5 .6
5 .5
5 .2
5 .0
5 .4
5 .6
6. 0
6 .0
6 .8
1 3 1.30
1 3 2.79
-
4 .8
2 -7 7
6 .3
5 .8
5 .8
5 .6
5 .5
5 .8
6 .1
6 .6
3 -7 7
6 .1
5 .7
5 .7
5 .5
5 .4
5 .7
5 .9
6 .1
4 -7 7
6 .2
5 .8
5 .7
5 .6
5 .5
5 .8
6 .0
6 .2
1 -7 8
6 .2
5 .6
5 .8
5 .6
5 .6
5 .8
6*0
6 .2
2 -7 8
6 .5
6 .2
6 .2
6 .1
6 .1
6 .4
6 .6
3 -7 6
6 .5
6 .2
6 .3
6 .2
6 .2
6 .4
* -7 8
6 .7
6 .* _
6 .*
6 .4
6 .4
J l-7 9
6 .6
6 .6
6 .6
6 .6
2 -7 «»
7 .0
6 .7
6 .8
3 -7 9
7 .0
6 .8
6 .9
* -? *
1 -7 5
2-15
1 3*.35
1 3 6 .3 *
1 3 8 .3 4
7 .7
1* 0.93
6 .2
6 .2
1 * 2 .5 9
6 .2
6 .3
5 .6
6 .4
6 .2
6 .3
5 .8
6 .4
6 .8
7 .0
7.2
7 .0
7 .8
8 .5
1 0 .7
6 .6
6 .9
7 .0
7 .2
7 .0
7 .6
8 .0
8*9
7 .2
6 .6
6*8
7 .1
7 .2
7 .4
7 .3
7 .8
8 .2
8 .8
7 .9
8 .7
6*6
6 .9
7 .1
7 .3
7 .*
7 .6
7 .6
8 .1
8 .4
9 .0
8 .4
9 .0
9 .3
1 6 0.22
6 .8
6 .8
7 .0
7 .2
7 .5
7 .6
7 .8
7 .8
8 .3
8 .6
9 .0
8 .6
9 .1
9 .3
163.81
6 .9
6 .9
7 .1
7 .3
7 .6
7 .7
7 .9
7 .9
8 .3
8 .6
8 .9
8 .6
9 .0
9 .1
8 .9
T - 7 5 ' 4 -7 *
1 -7 6
¿ -> 6
3—76
4 -7 6
1 -7 ?
2-7?
3 ^7T
4 -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 -7 9
Ö
1**.*2
1
14 7.05
1 5 0.82
^ 6 %
1 5 3.45
1 5 6.68
8.5j
1 6 7 .2 0
2 -7 »
T M T I a l úUAfcTEft
PREPARED BY FEDERAL RESERVE ttAléC ÖF S T « LO UIS'
DECEMBER 1 9 , 1979
14
PERSONAL CONSUMPTION EXPENDITURES IN CURRENT DOLLARS
COMPOUNDED ANNUAL RATES OP CHANGE_____________
TERMINAL
QUAPfTfcK
4 -7 4
1 -7 5
b lL L lÜ N S OF
POLLARS
ANNUAL RATES
IN IT IA L QUARTER
1 -75
2-7 5
3 -7 »
4 -7 3
1-76
2 -76
3 -7 6
4 -7 6
1-77
2 -7 7
3-77
4 -7 7
1 -7 8
2 -7 6
3 -7 0
W O
1 -7 »
2 -7 9
9 3 5 .7
6 .6
2 -7*
10.9
A3*l
3 -7 5
11.5
12. b
1 2 .6
>»-75
11.5
1 2 .4
12 .1
11.6
1,021.6
___
1 -7 6
1 1 .e
12.6
12.5
12 .4
13.2
2 -7 6
11.2
11.6
1 1 .3
10 .6
1 0.5
7 .6
3 -7 6
11.0
11. 4
11.1
10.7
1 0.4
9 .1
I t 0 5 3 .6
l,or^. i
1 ,1 0 0 .»
10.4
4 -7 6
11.2
11.5
11.2
11 .0
10.8
10.0
11.2
12.0
__
1 ,1 3 2 .0
1 -77
11.4
1 1.6
11.6
11.*
11.4
1 0.9
12.0
12.V
13.8
1 ,1 6 9 .1
2 -7 7
11.0
1 1.3
11.1
1 0 .V
10.7
1 0.2
10 .9
11.1
1 0.6
3 -7 7
11.0
± *•?
.0
10.6
1 0 .7
1 0.3
10.6
1 0.9
1 0.6
9.0
10.5
4 -7 7
11.2
1 1.4
1 1.3
11.1
11.0
10.7
11.2
11 .4
11.3
10.5
12.0
13.4
1_1._2
11.0
10 .9
10.8
10.5
10.9
11.0
10.8
10.1
11.0
11.2
_l_-7 8 _ _ n . o _
.2 -7 6
3-76
4 -7 6
1 .1 9 0 .5
7.5________
1.220.6
1 ,2 5 9 .7
1 ,2 6 7 .2
9 .0 ________
.1 1 .3_ l h 5 _ 1 1.3
11.2
11.2
10.9
11.3
1 1 .5
1 1 .4
10.9
11.8__ 12.3
11.7
1 4 .4
11.3
11.5
11 .4
11 .3
11.2
11.0
11.4
11 .5
A l.S
ll.i
11.
12.2
11.8
1 3 .2
1 1 .9
11.5
JLU ?
11.6
11.5
11.5
11.3
11.7
11.6
11.8
11.5
12.2
12.6
12.4
1 3 .5
13.1
1 ,3 3 1 .2
1 ,3 6 9 .3
1 ,4 1 5 .4
14 ,2
1-79
11.5
J 1 .7
11.6
11.5
11.5
11.3
11.7
11.6
11.8
11.5
12.1
12.4
12.2
1 3 .0
1 2 .5
1 2 .6
1 1 .4
2 -7 9
11.2
1 1.3
1 1.2
11.1
11.1
10.9
11.2
1 1 .3
11.2
10.9
11.3
11.5
11.1
1 1 .6
1 0 .9
1 0 ,5
8 .7
6 .1
3 -7 9
11.*
1 1 .4
1 1 .*
11 ,3
11,2
11.5
1 1,6
11,5
11,3
11,6
11,9
11,7
1 2.1
1 1 .7
1 1 .6
1 0 ,6
1 0 .5
15 .1
2 -7 6
5—76" 4 -7 6
1—77
I -7 7
3 -7 7
4 -7 7
1=78
F
3=76
4 -7 8
1 -7 9
7=79"
1—75~ 2 -75
3 -7
f l
1 ,45*».2
1,* 7 5 .V
1 ,5 2 6 ,6
IN IT IA L QUARTER
PERSONAL CONSUMPTION EXPENDITURES IN 1972 OOLLARS
__________COMPOUNDED ANNUAL RATES OF CHANGE__________
BILLIO N S OF
T E R M I N A L _____________________________________________________ IN IT IA L QUARTER____________________________________________________________ OOLLARS
ANNUAL RATES
quäR W r
4 -7 *
1 -7 5
2 -7 5
3 -7 5
4 -7 5
1 -7 6
2 -7 6
3 -7 6
4 -7 6
1 -7 7
2 -7 7
3 -7 7
4 -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 -7 9
2 -7 9
J .-7 5 _
7 5 7,2
_2—7 5 _
7 7 0 ,2
3 -7 5
_4^75^_
1 -7 6
2 -7 6
4—76
4.j6_
7 .0 _
4 .6
6 .0
5 ,0
5 .1 _
6 .0
5 ,5
6 ,0
5 .7
6 ,6
6 .5
7 ,2
8 ,4
7 7 9 ,7
7 9 1 ,1
6 0 7 ,3
5 .4
6 ,0
5 .8
6 ,0
6 ,0
3 .6
5 .3
5 ,6
5 .6
5 ,7
5 ,6
4 .2
0 1 * .5
5 .4
5 ,6
5 .7
5 ,6
5 ,7
4 ,8
5 .4
4 ,7
6 2 4 .0
6 .2
0 3 6 .*
1 -7 7
5 .5
5 ,9
5 .7
5 ,9
5 ,6
5 .2
5 .7
6 ,2
6 .3
2 -7 7
5 .1
5 ,4
5 .2
5 ,3
5 ,2
4 .5
4 .7
4 .7
4 .0
1 .8
5 .2
5 ,2
5 ,1
4 .6
4 .8
4 .8
4 .4
3 .4
5 .1
_ 3 -7 7
_5 *A
6 4 9 ,2
6 5 3 ,1
6 6 3 ,7
* -7 7
5 .4
5 ,7
5 .5
5 ,6
5 ,5
5 .1
5 .4
5*5
5 .3
5 .0
6 ,6
1 -7 8
5 .0
5 ,2
5 .1
5 ,1
5 ,0
4 ,6
4 .7
4 .7
4 .4
3 .9
4 ,7
4 ,4
0 ,6
5 .1
5 ,1
5 ,1
4 ,7
* .8
4 .8
4 .6
4 .3
4 ,9
4 ,8
3 ,2
5 ,6
5 .1
5 ,1
5 ,0
4 .7
4 .6
4*6
4 .6
4 ,4
4 .9
4 ,8
3 ,7
5 ,2
_2^78
„ ’ •.L._ A * 2 _
3 -7 6
5 .0
5 ,2
4 -7 8
.5 .1
_ 1 -7 V
2 -7 9
6 .2
6 8 0 ,9
6 6 2 .7
6 9 4 .6
V 0 5 .3
4 ,8
V 2 0 .3
5 ,3
5 .2
5 ,2
5 ,2
4 .9
5 .0
5 .0
4 .9
4 ,7
5 .2
5 ,2
4 ,5
5 ,7
5 ,8
6 ,8
4 .9 _
5 ,0
4 .9
4 ,9
4 ,6
4 .5
4 ,6
4 .6
4 .4
4 ,2
4 .5
4 ,*
3 ,7
4 ,4
4 ,0
3 .7
0 .7
4 .4
4 ,6
4 .4
4 ,4
4 ,2
3 .9
4 .0
3 .9
3 .7
3 ,4
3*6
3 ,4
2 ,6
2 .9
2 .3
1 .4
-l.l
-2 .9
4 ,6
4 .4
4 ,4
4 ,3
4 ,0
4 .0
4 ,0
3 .8
3 .5
3 .7
3 ,5
2 ,9
3 ,2
2*8
2 .3
0 .8
0 .9
4 .9
2 -7 5 " ~3-?5
4 -7 5
1 -7 6
2 -7 6
3 -7 6
4 —76
1 -7 7
¿ -7 7
3 -7 7
4 -7 ?
1 -7 8
2 -7 6
3 -7 8
4 -7 8
1 -7 9
2 -7 9
3 -7 V
4 -7 *
1—7$
9 2 1 .6
9 1 5 .0
9 2 5 .9
im iÄ irw K m r
PREPAREO BY FEOERAL RESERVE BANK OF S T , LOUIS
DECEMBER 19, 1979
15
GROSS PRIVATE OUMESTIC INVESTMENT IN CURRENT DOLLARS
COMPOUNOEO ANNUAL. RAIES OF CHANGE
TERMINAL
_________
BILLIONS of
______________________ IN IT IA L QUARTER____________________________________________________________OQLLARS
ANNUAL RATES
QUARTER
4 -7 4
1 -7 5
2 -7 5
4 -7 5
3 -7 5
1 -7 6
2 -7 6
3 -7 6
4 -7 6
2 -7 7
1 -7 7
3 -7 7
4 -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 -7 9
2 -7 9
17 7.7
I “ 7 ?.. “ * 9 . 1
-5 * 5
3 -7 5
-2 * 3
3 5 .*
9 4 .1
* -7 5
-3 * 1
2 0 .1
3 5 .*
_-5_*5_
I - 7*
8*7
3 1 .*
*6 . 7
2 7 .5
7 2 .0
N>
1
0
. ----
—30*7
9 .7
2 8 .0
3 8 .1
2 3 .2
40*7
15*2
9 .3
2 * .J
31*2
1 9 .0
28*4
11*0
3—76
¿ 0 3 .V
2 3 3 .5
2 4 1 .9
2 * 6 .0
7*0
¿ 5 0 .7
* -7 6
9 .2
21*7^
27*0
1 6 .6
23*0
9*9
7*4
7*9
1 -7 7
1 3 .6
2 5 .6
30*8
2 2 .5
?9*0
20*1
21.8
29*9
56.5
2-77^
15.2
26 .2
30*9
2 3 .7
29*4
22*2
24*0
30*3
43.2
31*0
25 .8
2 9 .9
2 3 .6
28*4
22*3
23*7
28.3
36*0
26*8
3 -7 7
17!> *2
20O .8
280.*
3 0 0 .0
3 1 5 .7
22*6
316.9
4 -7 7
1**6
23**
26*b
2 0 .9
2 4 .7
19*1
19*7
22*5
26.4
17*7
11*6
1*5
1 -78
14*5
2 2 .5
2 5 .5
2 0 .1
23*4
18*3
18*8
20*9
23.7
16*6
12*2
7*3
13.4
2-7 8
15.9
2 3«*
26*2
2 1 .*
24*5
20*1
20*7
22*8
25.5
20*0
17*4
15*7
23*6
34*7
3—7 b
15*1
22*0
2 4 .4
19 .9
22*5
18*4
18*8
20*3
2 2 .2
17*3
14*7
12*8
16*9
18*7
4* 5
¿ ¿ 7 .0
3 5 2 .3
3 5 6 .2
4-78
15.2
21 .6
23.9
19.7
22*0
18*3
1 8 .6
20*0
21*6
17*3
15*1
13*7
16*9
18*1
10*6
17*1
1-79
14.5
20.4
2 2 .*
18.*
20*5
17*0
17*1
18*2
19.4
15*5
13*4
11*9
14*1
14*3
0*2
10*1
3*6
18.V
20 . 8
17*6
17*8
18*8
20.0
16*5
14*8
13*7
15*9
16*4
12*2
1**9
13*9
25*2
12*7
11.5
1 3 .0
12*9
9*0
10*1
7 .9
10*1
-3 * 1
3-77
4-7 7
1=78
2=78
5=78
*=Tô
1=?9
2=79
2- 7 9
15.1
20.7
22.6
3-7 9
14.0
19.2
20.9
17.*
19.1
16*0
1 6 .0
16*8
17.7
14.*
* -7 *
1-75
2 -75
3 -7 5
4 -T 5
1-76
2 -T6
3-76
*-76
T -7 7
3 7 0 .5
373.8
¿95.*
392.3
I N Ï f l AL OUAktER
GROSS PRIVATE DOMESTIC INVESTMENT IN 1972 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
_____________________________
BILLIONS OF
T E R M I N A L _____________________________________________________ IN IT IA L QUARTER____________________________________________________________DOLLARS
QUARTER
ANNUAL RATES
4 -7 * 1-75 2—75 3 -7 5 4 -7 5
1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-7 7 1-78 2-78 3-78 4 -7 8 1-79 2 -7 9
1-75
-61*3
2 -7 5
-3 8* 9
13**6
-3 * 8
133.3
3 -7 5
-13*0
30*4
76*8
4 -7 £
-12*7
14*4
24*8 -1 1* 9
153*7
1*8.9
1-7 6
-0 * 3
26*2
38*2
22*2
2 -7 6
1*2
22*7
30*4
17*8
34*2
9*5
3 -7 6
1*2
18*8
23*9
13*3
23*3
5*1
0*9
4—76
1*5
16*4
20 *2
11*3
18*0
4*6
2*2
3*5
1-77
5*1
19*1
22*8
15*6
22*0
12*4
13*4
20*2
69*5
■t
173.8
17*.2
175.7
191.0
39*7
2-7 7
6*5
19*1
22*4
16*1
21*6
13*8
14*8
19*9
29*1
19*3
3 -7 7
7 .2
18*7
21*5
16*0
20*6
14*0
14*9
18*7
24*2
17*1
15.0
4 -7 7
6*0
16*1
18*3
13*2
16*8
10*7
10*9
13*0
15*5
8*5
3 .4
17*8
13*1
199*0
204*7
203.0
- 7 .0
1-78
6**
15*8
16*3
10*9
11.1
12*9
14*9
9*4
6 .3
2.2
12.4
2-7 8
7*1
15*8
17.6
13*3
16*2
11*4
11*7
13*3
15*0
10*7
8 .6
6.6
14.1
15*8
3 -78
6*2
14*2
15*7
11*7
14*1
9*7
9*7
10*8
11*9
7.9*
5 .7
3.5
7.3
4*8
-5*1
4-7 8
6 .2
13*6
15*0
11*3
13*4
9*4
9*4
10*3
11*2
7*7
5 .9
4.1
7.1
5*4
0*6
209.0
216. b
¿14.0
217.*
6*5
1 -7 9
5*8
12 .7
13*9
10*4
12*3
8*5
8 .4
9*2
9*9
6 .6
4 .9
3.4
5 .6
3*^
0*2
3*0
-0 * 4
2 -7 9
6*0
12*5
13*6
10*3
12*0
8*5
8*5
9*2
9 .7
6 .8
5 .4
4.1
6*1
4*8
2*3
4*8
4*0
3 -7 9
4*9
10*9_ 11*8
8*7
10*2
6*8
6*6
7*1
7*5
4 .7
3 .2
1.8
3.1
1*7
-1 * 0
0*1
-2 .0
-2 * 7 -1 2 .9
3-75
4-75
1-76
¿—76
5-76
4-76
1-77
4 -7 7 ” 1-78
2-78
3-7*
4 -7 8
1=7?" 2—7*
4—74
1—75
2 -f 5
169.9
2-77“ 5=77
2 1 7 .c
221*7
8*5
¿14^
T R IT I aL fcMKTBT
_
-------------------------------NtEtAfcEÔ fct FEDERAL feESERVE Ba*
DECEMBER 19» 1979
16
Of ST. LÖÜHT
GOVERNMENT PURCHASES OF GOODS AND SERVICES IN CURRENT DOLLARS
CUMPQUNOEO ANNUAL RATES O f CHANGE_____________________
TERMINAL
QUARTER
1-75
* -7 *
1-75
2 -75
3 -7 5
*-7 5
1-76
2 -76
3 -7 6
1-77
* -7 6
2-77
ANNUAL RATES"
3 -77
*-77
1 -78
2 -7 8
3 -78
* -7 8
1 -7 9
2 -7 9
325*8
10*9
33**2
2-75
10*8
10*7
3 -7 ^
10.5
10*3
9*9
* -7 t
10.7
10.7
10.6
2-7 6
¿ iL L lO N * 1ST
OOLLARS
IN IT IA L QUARTER
3*2*2
351*5
U .3
9 .4
v *°
8**
7 .7
**2
8*2
7 .7
7*0
6*0
3**
355*1
2*7
357*5
362**
3-7 6
7 .9
7 .*
6 .7
5*9
*♦2 _**2
* -7 6
8 .0
7 .6
7*.\.
6*5
5*3
5*7
7*3 __ 9*0
1 -77
8 .3
8*0
7 .6
7*2
6 .*
7*0
8*5
9*9
10*9
2 -7 7
8*8
8 .2
8*0
7*5
8*1
9*5
10*9
11*8
12*8
7*7
8**
9*5
10*5
11*0
11*1
9**
8**
9*0
10*1
11*0
11*5
11*7
11*1
12*9
9*6
9*7
3-7 7
8*8
8*6
8 .*
* -7 7
9 .1
9*0
8 .8
8*9
8 .8
_
8*7
8j*6_
8*5
8*2
5*6
9*6
370*3
380*0
10*2_ 10*5
10**
391*6
*00*5
*12*8
*19**
6*6
* 2 « *3
8*8
8*6
8 .5
8*2
8*7
9*5
10*0
10*2
10*0
9**
9 .*
7*7
8*0
3^78
9*2
9*0
8*9
8*8
8*6
9*0
9*8
10*3
10*5
10**
10*0
10*1
9*2
10*5
12*3
* -7 8
9 .3
9*2
9*1
9*1
8*9
9*3
10*0
10*5
10*7
10*7
10*3
10*5
9*9
11*1
12*3
12*2
1 -7 9
9 .1
9*0
8*9
8*8_
8*6
9*0
9*6
10*0
10*1
10*0
9*6
9*7
9*1
9 *7
10*0
8*9
2 -7 9
8*9
8*8
8*7
8*6
8 •*
8*8
9*3
9*6
9*7
9*6
9*2
9*1
8*5
8*9
8*9
7*8
5*7
5*8
3 -7 9
9 .0
8*9
8*8
8*7
8*5
8*8
9*3
9*7
9*7 _
9*6
9*2
9*2
8*7
9*1
9*1
8**
7*1
7*0
* -7 *
1 -7 5
2 -7 5
3 - 7 5 " * -7 5
1 -7 6
¿ -7 6
3—76
1 -f T
2 -7 7
3 -7 7
* -7 7
l^ T § -
¿ -f é " '
3 -7 8
* -t b
1 -7 »
2 —78
* -7 6
**0*9
*53*8
*60*1
5*7
* 60*6
10*0
*77*0
GOVERNMENT PURCHASES Of GOODS ANO SERVICES IN 1972 OOLLARS
CQMPOUNOED ANNUAL RATES OF CHANGE
ttLLtQ M S ÒF
DOLLARS
ANNUAL RATES
IN IT IA L QUARTER
TERMINAL
QUARTER
* -7 *
I
2 -7 5
3 -7 5
* -7 5
1 -7 6
2 -7 6
3 -7 6
* -7 6
1 -7 7
2 -7 7
3 -7 7
* -7 7
1 -7 0
2 -7 0
3 -7 0
* -7 0
1 -7 9
2 -7 9
1 -7 5
l._6_
259*3
2 -7 5
2*_6
261*6
3 -7 5
2 .8
263*6
3 .*
2 *9_
* -7 5
?.• v
1 -7 6
2 .0
1 .6
0*7
2 -7 6
1*2
0 .5
3 -7 6
1*0
0 .3
* -7 6
cue
1 -7 7
i* i
2 -7 7
i*<
_
265*7
26**7
-1 .5
_
-0 * 5
-2 .1
-2 * 7
-0 * *
-1 .5
-1 * 5
-0 * 3
0 .3
-0 * *
-1 * 2
-1 * 1
-0 * 2
-0 * 2
0 .6
0*2
-0 * *
-0 * 1
0*8
1**
2 .9
0*5
0*9
1*8
2*5
3 .8
**8
l * L _0*^8_
262 *V
262*7
262*6
26* *5
267*6
3 -7 7
i* i
l *A
1*2
1*0
1**
2*2
2*9
3 .9
*♦*
*♦1
*—77__
1 .7
1 .5
1*3
1*1
1*5
2*2
2*7
3**
3*5
2*9
1*8
270*3
271*5
I-7 b
1 .5
0*8
1*1
1*7
2*0
2*5
2*3
1*5
0*3
-1 * 2
2 -7 8
l.<
I«2
1*0
0*8 _
1*1
1 .6 __ 1 .9
2 .2
2*1
I* *
0*5
-0 * 1
0*9
3 -7 8
1 .7
1 .5
1**
1*2
1*5
2 .0
2*3
2*6
2*6
2*1
1*6
1*6
3*0
5*1
V—78
l.T
1 .5
1 .*
1*3
1*5
2 .0
2*2
2*5
2*5
2*1
1*7
1*7
2*6
3*5
1*9
1-7 9
l.i
1 .3
!* 2 _
1*0
1*2
1 .6
1*8
2*0
1*9
1*5
1*1
0*9
1*5
1*7
0*0
-1 * 9
2-79^
1 .2
1 .0
0*9
0*7
0*9
1 .2
1*3
1*5
1*3
0*9
0**
0*2
0*5
0* *
-1 * 1
-2 * 6
-3 * 3
) —79
1 .2
1*0
0 .9
0*7
0 .9
1*2_
1 .3
1**
1*3
0*9_
0*5
0*3
0*6
0*5
-0 * 6
-1 * *
-I# 2
2 -7 5
3 -7 5
* -7 5
1 -7 6
"2-77“ 3 -7 7 " 4 -7 7
1 -7 0
* -7 1 T
r=79~~2-=7* "
^ -7 *
. 1 . 3 . __1*0_
1
2 -7 6
T -7 6 "
* -7 6 T - 7 T
270*7
271*3
2 / * .7
2 -7 0 " 5 = 7 3
276*0
27**7
2 7 2 .*
1 .0
273*1
INITIAL QUARTER
PREPARED 0 V fEUE k AL RESERVE BANK 0 F T I 7 LOUIS
0ECEM8ER 1 9 , IV79
17
DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS
COMPOUHOEP ANNUAL RATES OP CHANGE
* -7 *
1 -7 5
2 -7 5
3—75
4 -7 5
1 -7 6
2 -7 6
3 -7 6
B IL L IO N S OF
IN IT IA L QUARTER_________________________________________________________________POL LARS
ANNUAL KATES
3 -7 8
4 -7 8
1 -7 7
2 -7 7
1 -7 8
1 -7 9
2 -7 9
4 -7 6
3 -7 7 4 -7 7
1
CD
_____________________
**
TEkN IN A L
QUARTER
1 ,0 2 5 .*
1 -7 5
3*7
2 -7 5
1 6 .1
30*1
3 -7 5
1 1 .2
15*1
#—75
10*6
1 -7 6
10*6
2 -7 6
1 .0 V 5 .1
1 .9
1,1 00* 3
13*3
5 .7
9 .6
1,1 25* 8
1 2 .4
7 .0
9 .7
9 .7
9* V
1 1 .1
6. V
8 .6
8 .0
6 .4
3 -7 6
9 .6
10*6
7 .1
8 .*
8 .0
7 .2
8 .1
4 -7 6
^• 7
10*6
7 .6
8 .8
8 .6
8 .2
9 .2
1,1 52* 2
1,1 7 0 * 2
1 ,193*1
1 ,2 2 2 * 6
1 0 .3
1,2 50* 1
1 -7 7
9 .6
10**
7 .9
8 .9
8 .7
8 .5
9 .2
9 .8
9 .3
2 -7 7
9. V
1 0 .6
8 .4
9 .3
9 .3
9 .2
9 .9
1 0 .5
1 0 .6
1 2 .0
3 -7 7
1 0 .1
1 0 .7
8*8
9 .7
9 .7
9 .7
1 0 .3
1 0 .9
1 1 .1
1 2 .0
1 2 .1
*—77
1 0 .2
1 0 .9
9*1
9 .9
1 0 .0
1 0 .0
1 0 .6
1 1 .1
1 1 .3
1 2 .0
1 2 .0
1 2 .0
1 ,2 8 6 * 0
1 ,3 2 3 .2
1 ,3 6 1 .2
1 ,3 9 5 .0
1 0 * iL 1 0 .8
9*2
10*0
1 0 .0
1 0 .0
1 0 .6
1 1 .0
11 .1
1 1 .6
1 1 .5
1 1 .1
1 0 .3
_2-78
1CK4
ljÖ .9 _
9 .5
10*2
1 0 .3
1 0 .3
1 0 .8
1 1 .2
1 1 .4
1 1 .8
1 1 .8
1 1 .7
1 1 .5
1 2 .7
3 -7 8
1 0 .5
1 1 .0
9 .6
1 0 .3
1 0 .*
1 0 .4
1 0 .9
1 1 .2
1 1 .4
1 1 .7
1 1 .7
1 1 .6
1 1 .5
1 2 .0
1 1 .4
1 0 .7 ^
1 1 .2
1 -7 8
;
7 !
* -7 8
2 -7 9
3 -7 9
1 0 .8
1 0 .6
li.i
10*6
^ -7 *
1 -7 5
1 ,4 3 7 .3
1 ,* 7 6 .5
1 ,5 2 * .tf
9 .9
1 0 .6
1 0 .6
1 0 .7
11*2
1 1 .5
1 1 .7
1 2 .0
1 2 .0
1 2 .0
1 2 .0
1 2 .6
1 2 .5
1 3 .7
1 0 .1
1 0 .7
1 0 .8
1 0 .9
1 1 .3
1 1 .7
1 1 .8
1 2 .1
1 2 .2
1 2 .2
1 2 .2
1 2 .7
1 2 .7
1 3 .4
1 3 .0
1 0 .0
1 0 .5
1 0 .6
1 0 .7
11*0
11*3
1 1 .4
1 1 .6
1 1 .6
1 1 .5
1 1 .5
1 1 .7
11*4
1 1 .5
1 0 .3
7*7
8 .0
9 .9
1 -7 9
2 -7 9
1 0 .0
1 0 .5
1 0 .6
1 0 .6
10*9
11*2
1 1 .3
1 1 .5
1 1 .4
1 1 .3
1 1 .2
1 1 .4
11 .1
1 1 .1
1 0 .2
2—75
3 -7 5
* -7 5
1-7 6
2 -7 6
3 -7 6
4 -7 6
1 -7 7
2 -7 7
3 -7 7
4 -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 ,5 ^ * 2
1,6 0 1 * 7
1, 6 * 0 * 0
I N I T I A L QUARTER
DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE
B IL L IO N S OF
T E R M I N A L __________________________ __________________________IN I T I A L QUARTER_____________________________________________________________________ DOLLARS
QUARTER
ANNUAL RATES
4 -7 4
1 -7 5
2 -7 5
3 -7 5
4 -7 5
1 -7 6
2 -7 6 3 -7 6 4 -7 6
1 -7 7
2 -7 7
3 -7 7 4 -7 7
1 -7 8
2 -7 8
3 -7 8
4 -7 8
1 -7 9 2 -7 9
1 -7 5
-2 .5
9 .6
23*.L
3 -7 5
4 .5
8 .2
-4 .9
4 -7 5 _
4*4
6 .8
-0 .5
4 .0
_L ~ ? 6
4 .6
6 .4
1 .4
4 .7
5 .3
2 -7 6
4 .2
5 .5
1 «6
3 .8
3 .7
2 .1
_3-7 6
3 .9
5*0
1 .8
3 .5
3*3
2 .3
4 -7 6
4 .0
5 .0
2 .2
3 .7
3 .6
1 -7 7
3 .8
4 .6
2 .2
3 .4
3 .3
2 -1 1
4 .0
4 .8
2 .7
3 .9
3 .8
_3—77
4 .2
4 .9
3 .1
4 .2
4 -7 7
4 .5
5 .1
3 .5
1 -7 8
4 .3
4 .9
3 .3
_2—78
4 .3
4*8
3 -7 8
4 .3
4 -7 8
_ 4*4_
Ö29.Ö
«74*1
8 6 3 .1
8 7 1 .7
88 3 .1
8 8 7 .7
2 .6
8 9 3 .*
3 .1
3 .5
9 0 3 .3
2 .8
3 .1
3 .3
2 .1
3 .5
3 .8
4 .2
4 .1
6 .1
4 .2
4 .0
4 .4
4 .8
4 .9
6 .3
6. 6
4 .4
4 .5
4 .4
4 .8
5 .4
6 .5
6 .7
6 .8
4 .2
4 .2
4 .1
4 .4
4 .7
4 .7
5 .4
5 .1
4 .4
2 .0
_ 3 ^4
4 .2
4 .2
4 .1
4 .3
4 .6
4 .6
5 .1
4 .8
4 .3
3 .0
4 .0
4 .8
3 .5
4 .2
4 .2
4 .1
4 .3
4 .5
4 .5
4 .9
4 .7
4 .3
3 .4
4 .1
4 .2
4.9^
3 .7
4 .4
4 .4
4 .3
4 .5
4 .7
4 .8
5 .2
5 .0
4 .7
4 .2
4 .9
5 .3
6 .4
4 .2
4 .2
4 .2
4 .5
9 0 8 .0
9 2 1 .5
9 3 6 .3
9 5 1 .8
9 5 6 .6
9 6 6 .1
9 7 6 .2
9 9 1 .5
1 -7 9
4 .2 _
4 .7
3 .6
4 .2
4 .2
4 .1
4 .3
4 .5
4 .5
4 .8
4 .6
4*2
3 .7
2 -7 9
3 .9
4 .3
3 .2
3 .8
3 .8
3 .7
3 .8
3 .9
3 .9
4 .1
3 .8
3 .4
2 .9
3 .0
2 .8
2 .3
0 .3
-1 .4
3 -7 9
3 .7
_4.1
3 .1
3 .6
3 .5
3 .4
3 .5
3 .6
3 .5
3 .7
3 .4
3 .0
2 .5
2 .5
2 .3
1 .8
0 .3
-0 .6
3 -7 5
4—75
1—76
2 -7 6
3 -7 6
4—76
1-77 "2-77
3-77
4-77 T - 7 «
2-78
3-78
4—78
4 — 74
1 -7 5 ”
9 9 6 .6
2 .1
9 9 3 .0
0 .2
9 9 3 .4
1-7* '2 -7 9
INITIAL QUMTEft
?»E»Afct6 ftV
n t &AL
DECEMBER 19* 1979
18
ftESfcftvE èàüC OF STT LOUIS
CORPORATE PROFITS AFTER TAXES ♦
COMPOUNDED ANNUAL RATES OF CHANGE
B lL L iÖ N i & POLLARS
ANNUAL RATÉS
IN IT IA L QUARTER
TERMINAL
Q U A Â tÉR
* -7 *
-5 8 * 2
2 -7 5
-2 2 * 8
1 -7 5
2 -7 5
3 -7 5
* -7 5
1 -7 6
2—76
3 -7 6
* -t 6
1—77
2 -7 7
3 -7 7
* -7 7
1—78
2 -7 8
3 -7 8
W
l
1 -7 »
2 -7 9
5 9 .1
6* . 6
* 2 .8
3 -7 5
8#*
7 * .6
1 1 3 .6
* -7 5
9 .3
5 0 .5
5*. 5
1 1 .8
1 -7 6
18*6
5**0
5 7 .9
35*8
6 * .9
2 -7 6
1 5 .8
* 2 .0
* 1 .8
2 3 .7
3 0 .1
2 .7
3 -7 6
1 * .3
3 5 .2
3 3 .7
1 9 .0
2 1 .5
* .2
5 .8
* -7 o
1 2 .6
2 9 .7
2 7 .7
1 5 .2
1 6 .1
3 .2
3 .5
1 .3
1 -7 7
1**3
2 9 .6
2 7 .8
1 7 .3
1 8 .*
9 .0
1 1 .2
1 * .0
2 -7 7
1* »8
2 8 .*
2 6 .7
1 7 .6
1 8 .6
1 1 .0
1 3 .2
1 5 .8
2 3 .8
1 9 .*
3 -7 7
1**7
2 6 .9
25*2
1 7 .2
1 8 .0
1 1 .5
1 3 .*
1 5 .*
2 0 .5
1 6 .8
1* .2
* -7 7
1 3 .7
2 * .5
»V
N>
•
00
1 -7 5
1 5 .*
1 5 .9
1 0 .2
11*5
1 2 .7
1 5 .8
1 1 .9
8 .3
2 .6
7 8 .1
8 0 .3
9 1 .0
9 1 .6
9 2 .9
93*2
9 9 .2
2 8 .3
1 0 3 .7
1 0 7 .2
1 0 7 .9
1 -7 8
1 2 .2
2 1 .8
20*0
1 3 .3
1 3 .5
8 .3
9 .1
9 .7
1 1 .*
7 .6
3 .9
-0 .9
-* .*
2 -7 8
1 5 .7
2 5 .1
2 3 .7
1 7 .7
1 8 .*
i* .l
1 5 .6
17 .1
1 9 .9
1 8 .3
18 .0
1 9 .3
2 8 .7
7 3 .2
3 -7 8
15 .1
23*8
2 2 .*
1 6 .8
1 7 .3
1 3 .*
1 * .7
1 5 .8
1 8 .0
1 6 .*
15.8
1 6 .2
2 1 .2
3 6 .*
* -7 8
1 5 .8
2**0
2 2 .7
1 7 .6
18*1
1 * .6
1 5 .8
1 7 .0
1 9 .1
1 7 .9
17 .6
1 8 .3
2 2 .6
3 3 .2
1 6 .8
2 7 .1
1 -7 9
1 6 .8
2 * .5
2 3 .*
18*6
1 9 .2
1 6 .0
1 7 .3
1 8 .5
2 0 .6
1 9 .6
19 .7
2 0 .6
2**6
3 3 .1
2 1 .9
2 9 .9
3 2 .7
2 -7 9
1 5 .3
2 2 .*
21*2
1 6 .7
1 7 .0
1 * .0
1 5 .0
1 5 .9
1 7 .*
1 6 .3
15 .9
1 6 .1
18 .6
2 3 .8
1 3 .8
1 6 .0
1 0 .9
-7 .*
3 -7 9
1 5 .9
22*7
21*6
1 7 .*
1 7 .8
1 5 .0
1 6 .0
1 6 .9
1 8 .*
1 7 .*
17 .2
1 7 .6
1 9 .9
2 * .5
1 6 .6
1 9 .0
1 6 .*
».1
2 8 .5
*-T *
1 -7 *
I-t 6
2 -7 6 - ^ T ó T * -7 6
Y -T *
2— T O
~5—1T5-
i -n
T -Ï T
^ rr
106*7
i-w
1 2 2 .*
7 .*
12* . 6
1 3 2 .3
T - W
1 * 2 .0
1 3 9 .3
1 * 6 .3
.............. ..
i N lf Ï A L QUÀfcÏER
* NATIONAL INCOME BASIS
PREPAREO BY FEPÉRAL RESERVE BANK OF ST* LOÜÎS
OECEMBER 19, 1979
SOURCES OF DATA
NATIONAL INCOME AND PRODUCT A C C OUNTS D A T A
Source:
1929-72:
1973
1974:
1975:
1976-78:
U.S. Department of Commerce, Bureau of Economic
Analysis, Washington, D.C.
20230
The National Income and Product A c c ounts of the
United States, 1 9 2 9 - 7 4 , A Survey of Current Business
Supplement.
Survey of Current Businèss, July 1977.
Survey o£ Current B u s i n e s s , July 1978.
Survey of Current B u s i n e s s , July 1979.
The Survey is available from most d i s trict offices
of the Department of Commerce or from the Sup e r i n t e n d e n t of
Documents, U . S . Government Printing Office, Washington, D.C.
20402.
19
I N V E N T O R I E S COMPARED WI TH MONTHLY S A L E S *
MANUFACTURING
1966
1967
* R A T I OS
1965
BASED
ON S E A S O N A L L Y
S HADED
AREAS
REPRESENT
LATFST
DATA
1 968
PLOTTED:
1 969
1 97 0
1971
ADJUSTED
DATA.
PERIODS
OC T O B E R
OF B U S I N E S S
1972
AND T RADE
1 973
1974
1975
SOURCE:
1976
1977
U . S . DEPARTMENT
1 97 8
197 9
OF COMMERCE
RECESSIONS.
PRELIMINARY
PREPARED
20
BY F E D E R A L
RESERVE
BANK
OF
ST
LOUIS
@FedFRASER