Full text of National Economic Trends : November 1979
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n H T io n m Economic t r e u d s PREPARED M o n t h E n d in g : BY FEDERAL BANK O c to b e r 31, 1979 I n f la t io n a c c e le r a t e d sh a rp RESERVE in c r e a s e s in th e p r ic e OF ST. LOUIS R e le a s e d : in t h e N o v e m b e r 30, 1979 f i r s t t h r e e q u a r t e r s o f 1 9 7 9 la r g e ly o f e n e rg y p ro d u c ts . The d e g re e becau se o f o f a c c e le r a t io n v a r ie s s o m e w h a t , h o w e v e r , d e p e n d in g o n w h ic h m e a s u r e o f p r i c e s is u s e d . M E A S U R E S O F P R IC E C H A N G E (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) IV /7 8 IV /7 7 to to m /7 9 12. 8 % C o n s u m e r P r ic e In d e x G N P IV /7 8 D e f la t o r P e r s o n a l C o n s u m p t io n D e f la t o r E n e rg y P ro d u c ts * O th e r th a n E n e rg y 9 .0 % 8 .9 8.2 10.1 7 .6 4 2 .6 6 .9 7 .6 7 .6 'G a s o lin e , m o t o r o il, f u e l o il, c o a l, e l e c t r ic i t y , a n d n a t u r a l g a s . The p re p a re d by best th e c o n s u m p t io n a c c e le r a t e d fro m because it does it e m s in in The not w hose in in c o r p o r a t e p r ic e s a re in c r e a s e s c o s ts as t h e ir a s s e ts , th e re fo re fo r r is e not in an a th e is to consum er p r ic e a fix e d - w e ig h t t h is m e a su re , in th e p a tte rn r e la t iv e to a ll o f th e f ir s t In th re e e x p e n d it u r e s . t h e ir p u rc h a s e s p r ic e s . on p r ic e s th e c o s t o f liv in g consum er re d u ce o th e r in in (C P I) based consum er 1 2 .8 p e r c e n t a n n u a l r a t e in d e x o v e r s t a t e s t h e r i s e in d e x in d e x o f th o s e a d d it io n , th e C P I h o m e p r ic e s a n d f in a n c in g c o s t s b e c a u s e it t r e a t s th e s e b o th p r o s p e c t iv e h o u s in g in c r e a s e p ro d u ce s a is T h is ch a n g e , co n su m e rs r is in g e f f e c t o f r is in g to t h is changes m a rk e ts a m p lif ie s th e h o m e o w n e rs, a in in f la t io n L a b o r. A c c o r d in g 1978 in c r e a s e in d iv id u a l o f o f 1 9 7 2 -7 3 . 9 p e rce n t o f 1979. p r ic e s m e a su re D e p a rtm e n t p a tte rn s q u a rte rs A s know n U .S . p r ic e s in th e h ig h e r a n d and cu rre n t re p re s e n ts cost m o re an o f liv in g . r a p id r a t e h o m e o w n e rs. in c r e a s e The To cu rre n t in t h e n o m in a l v a lu e h o m e o w n e r s h ip o f c o n s u m e r p r ic e of com p onent in c r e a s e s d u r in g p e r io d s o f r i s i n g h o m e p r ic e s a n d m o r t g a g e r a t e s . The th e U .S . p r o v id e s a o f p r ic e s in d o lla r s d e f la t o r C o m m e rc e , e c o n o m y a c c e le r a t e d th e a p p r o p r ia t e c o n s ta n t o f fo r g ro ss a llo w s b ro a d e r ra n g e o f c o v e ra g e . in t h e p e rc e n t ra te by im p lic it p r ic e D e p a rtm e n t p r ic e d o lla r s . y ie ld s f ir s t th re e th e in d e x e s D iv id in g G N P n a t io n a l p r o d u c t ( G N P ) , p r e p a r e d fo r A c c o r d in g fro m and t h is s p e n d in g th e n sum m ed d o lla r C a lc u la t e d p a tte rn s by and m e a s u r e , th e a v e r a g e le v e l in 1978 to an 8 .9 T h e c o m p o n e n t s o f G N P a r e d iv id e d c u rre n t d e f la t o r . to in a n 8 .2 p e r c e n t in c r e a s e q u a rte rs o f 1979. th e changes to o b t a in G N P in t h is by an e s t im a t e t h is w a y , th e o f e s t im a t e G N P in G N P in c o n s ta n t d e f la t o r r e f le c t s c h a n g e s in t h e c o m p o s it io n o f s p e n d in g a s w e l l a s p r ic e s . The com p onent s p e n d in g d e f la t o r o f not h o m e o w n e rs th e G N P r e f le c t e d in fo r p e rso n a l d e f la t o r , by th e fix e d - w e ig h t p e r s o n a l c o n s u m p t io n h o u s in g . U s in g t h is p e rce n t th e th re e q u a rte rs in f ir s t e x p e n d it u r e s , changes C P I. e x p e n d it u r e s o w n e r - o c c u p ie d ra te c o n s u m p t io n in c o r p o r a t e s In a re in m e a s u r e , c o n s u m e r p r ic e s o f 1979 fro m as p a tte rn a d d it io n , based on a o f h o u s in g th e m a jo r consum er c o s ts to r e n t a l v a lu e a c c e le r a t e d a 7 .6 p e r c e n t r a t e in 1 9 7 8 , p r i m a r i l y a s t h e r e s u lt o f in c r e a s e d e n e r g y p r ic e s . th e to a of 1 0 .1 o f in c r e a s e TOIAL C IV IL IA N EHPL0VHLN1 CUHPOONOEO ANNUAL RATES Of CHANGE 1 L Mo K M I N 3 -7 0 4 -7 6 A L _________________________________________ IN IT IA L HONTH_________________________________ __________________________________ THÜÜVANOS OF n th 5 -7 6 6 -7 b 7 -7 « b — 76 9 -7 0 r -7 b ^ .6 > -7 o * .4 _ 3 .2 t>— 7 b 6*0 6 .1 9 .1 3 .6 3w 3 .¿ 3*7_ 3 .3 _3 ^3_ 0.5 3 .6 9 -7 o 3 .7 3 .4 4 .4 1 .6 3 .6 3 .7 1 0 — 7 to 3 .6 3 .4 3 .3 1 .9 3 .4 3 .3 3 .0 7 -7 ö f -7 o 1 0 -7 0 11— 7b 1 2 -7 0 1 -7 9 2 -7 9 3 -7 9 4 -7 9 * -7 9 6 -7 9 7 -7 9 b -7 9 PERSONS 9 -7 9 9 3 ,7 0 4 9 4 ,9 5 4 9 4 ,6 * 0 -2 .4 9 4 ,4 4 6 9 4 ,7 2 3 9 5 ,0 1 0 9 5 ,2 4 1 à i -7 b *•0 3 .0 3 .9 2 .« 4 .¿ 4 .4 4 .8 1 2 -7 6 3 .7 3 .5 3 .5 2 .6 3 .6 3 .6 3 .6 1 .3 1 -7 9 3 .9 3 .7 3 .6 3 .0 4 .0 4 .0 4 .1 3 .5 9 5 ,7 5 1 9 5 ,0 * * 5 .7 9 6 ,3 0 0 2 -7 9 3 .9 4 .0 i.t t 3 .¿ 4 .0 4 .1 4 .2 3 .0 5 .1 4 .4 i-7 V 3 .0 3 .7 3 .7 3*1 3 .0 3 .9 3 .9 3 .5 4 .2 3 .4 2 .4 ♦ -7 * 2 .9 ¿ .6 2 .6 1 .9 2 .4 2 .3 2 .1 1 .1 1 .0 -0 .5 -2 .9 5 -7 9 2 .* 2 .6 2 .5 1 .9 2 .4 2 .3 2 .1 1 .2 1 .2 0 .1 -1 .4 —3 .2 6 -7 V 3 .0 2 .6 2 .7 2 .¿ 2 .7 2*6 2 .5 1 .0 1 .9 1 .1 0 .3 -0 .4 3 .7 V 6 ,6 4 7 9 6 ,0 4 2 Í 9 6 ,1 7 4 - b . o \ 9 6 ,3 1 0 5 .6 ssO J B % 9 6 ,7 5 4 7 -7 V 3 .1 3 .0 3 .0 2*5 2 .9 2 .9 2 .6 2 .3 2 .4 1 .9 1 .4 1 .1 4 .4 5 .7 0 -7 9 2 .7 2 .5 2 .5 2 .0 2 .4 2 .3 2 .2 1 .6 1 .6 1 .1 0 .5 0 .1 2*3 2 .4 0 .9 9 -7 9 3 .0 2 .9 2 .0 2 .4 2 .0 2 .7 2 .6 2 .2 2 .3 1 .9 1 .5 1 .4 3 .4 3 .0 3 .2 1 .9 10 —7 V 2 .7 2 .» 2 .5 2 .1 2 .4 2 .3 2 .2 1 .0 1 .0 1 .4 1 .0 0 .0 2 .3 2 .4 1 .7 0 .4 2 .5 “ >*Tb 4 -7 è 5— 7 b 6— 7b 9 - 7 0 T O U T S ' 1 1 -7 0 1 2 -7 0 1 -7 9 4 -7 9 5 -7 9 6 -7 9 7 -7 9 # -7 9 7 -T f f 0 -7 8 2 -7 9 ' 3=W ~ 9 7 ,2 1 0 -3 .0 9 6 ,9 0 0 9 7 ,5 1 3 9 7 ,2 9 3 -2 .7 ^ 9 -7 9 ITîTTIÀL Hú n Th PAYROLL ENPLUVHENT CONPOUNOEO ANNUAL RATES OF CHANftfc ______ ______________________________________________________________ I N I T I A L IteHHlNAL HONTH____________________________________________________________________ ______________IHOOSANOS OF PERSONS MDNTH 3 -7 0 4 —7 b 4 -7 0 5 -7 0 6 -7 0 7 -7 0 0 -7 0 9 - 7 0 1 0 - 7 0 1 1 -7 0 1 2 - 7 0 1 -7 9 2 -7 9 3 -7 9 4 -7 9 5—7 V 6 -7 9 7 -7 9 0 -7 9 9 -7 9 1 0 .5 05*961 6 6 ,2 2 7 5 -7 6 7 .1 3 .0 6 -7 b 6 .5 4 .5 5 .2 7 -7 0 5 .2 3 .4 3 .2 1 .3 b -7 b 4 .7 3 .2 3 .1 2 .0 2 .7 b 6 ,5 9 0 0 6 ,6 0 6 6 6 ,0 0 0 0 7 ,0 3 2 9 -7 0 4 .2 3 .0 2 .0 2 .1 2 .4 2 .1 1 0 -7 6 4 .4 3 .4 3 .4 2 .9 3 .4 3 .0 5 .5 1 1 -7 0 ^•6 3 .0 3 .0 3 .5 4 .0 4 .5 5 .7 5 .9 4 .4 5 .2 5 .0 4 .1 1 2 -7 0 4 .5 3 .0 3 .b 3 .6 4 .1 0 7 ,4 2 4 0 7 ,0 4 0 0 0 ,1 3 3 0 0 ,4 3 3 1 -7 9 4 .5 3 .9 3 .9 3 .7 4 .1 4*3 4 .9 4 .7 4 .1 4 .2 2 -7 9 4 .4 0 3 .b 3 .7 4 .0 4 .2 4 .7 4 .4 4 .0 3*9 3 .7 4 -7 9 4 .4 3 .9 3 .9 3 .0 4 .1 4 .3 4 .7 4 .5 4 .2 4 .2 4*2 4 .7 4 -7 9 4 .1 3 «6 3 .6 3 .4 4 .6 3 .7 4 .0 3 .7 3 .3 3 .1 2 .0 2 .3 0 0 ,7 0 0 0 9 ,0 4 9 0 9 ,0 3 6 - 0 .0 0 9 ,3 9 0 5 -7 9 4 .2 3 .7 3 .7 3 .5 3 .0 3 .9 4 .1 3 .9 3 .6 3 .5 3 .3 3 .2 2 .4 6 -7 9 4 .1 3 .6 3 .6 3 .5 3 .7 3 .0 4 .0 3. 0 3 .5 3 .4 3 .3 3*2 2 .7 * .o 3 > \2 -2 % 7 -7 9 3 .9 3 .5 3 .5 3 .3 3 .5 3 .6 3 .7 3 .5 3 .2 3 .1 2 .9 2 .0 2 .3 3 .1 2 .1 1 . 2 X « 9 ,7 1 3 0 9 ,7 6 2 0 9 ,6 2 6 0 -7 9 3 .7 3 .3 3 .3 3 .1 3 .3 3 .3 3 .4 3 .2 2 .9 2 .0 2*6 2 .4 2 .0 2 .5 1 .6 0 .9 0 .7 9 -7 9 3 .6 3*2 3 .1 3 .0 3 .1 3 .1 3 .2 3 .0 2 .7 2 .6 2 .4 2 .2 1 .0 2 .2 1 .5 1 .0 0 .9 1 0 -7 9 4 .6 3 .2 3 .2 3 .1 3 .2 3 .2 3 .3 3 .1 2 .9 2 .0 2 *6 2 .5 12*2 2 .5 2 .0 1 .0 2 .0 2 .6 ~ 3 -T b ~ 4 ^ fb " 5 -T b 6 -7 0 7 -7 0 ¥-70 9 —70 16-76 11-70 12-70 1 -7 9 2 -7 9 4 -7 9 5—7 9 6 -7 9 7 -7 9 0 -7 9 3 -7 * 0 9 ,0 4 5 P \ 9 0 ,1 5 I K 9 -7 9 IRTTTMTRSiTH > - ^ K fcLIH iN A R V " " " “ PfcEPAREO BY FEOERAL RESERV E bANK OF ST* LO UIS NOVEMBER 2 , 1979 2 EMPLOYMENT R A T I O SC A LE R A T I O SCALE 1971 1972 1973 1974 1975 1976 1977 SO U RCE: PERCEN TAGES ARE ANNUAL RATES OF CHANGE FOR PER IO D S LA T E S T DATA PLOTTED» 1978 1979 U .S .D E P A R T M E N T OF LABOR IN D IC A T ED . OCTOBER PR E L IM IN A R Y PREPARED BY FED ER A L RESERV E BANK OF S T . UNEMPLOYMENT SEASONALLY PERCENT LO U IS RATE ADJUSTED PERCENT 10.0 9. 9 .0 8. 8.0 r.o 6. 6.0 5. 5 .0 4. 4 .0 3. 3.0 2. 2.0 1971 1972 1973 1974 1975 1976 1977 SOURCE: PERCENT OF C I V I L I A N L A T ES T DATA PLO TTED : U .S . 1978 1979 DEPARTMENT OF LABOR LABOR FORCE OCTOBER PREPARED BY FEDERAL .RESERVE BANK OF ST. LOUIS 3 CONSUMER P R IC E IN D E X , SEA SO N A LLY A O JUSTED < COMPOUNOEO ANNUAL R A T ES OF CHANGE T t RHINAL münTh -- I N I T I A L MONTH 3 -7 8 *- 7 8 5-78 4-78 1 0 .6 5-78 10.5 10.5 6-78 10.5 10.4 10.4 7-78 9.8 9.5 9.0 6 -7 6 7-78 8-78 9-78 10-78 11-78 12-78 4-79 5-79 6-79 7 -7 9 8-79 9 -7 9 19 6 . 2 1*7.3 9.2 8.9 8 .3 7.3 9.4 9.1 8 .8 b•2 8.5 10.2 10-78 9.6 9.4 9.2 8.9 9.3 10.5 10.8 11-78 9 .3 9.1 8.9 9.4 9.1 3-78 <>-7tt 5-76 URBAN 3-79 7.6 8-78 FOK 2-79 193.4 9-78 *CPI-W 1-79 WAGb 6-TÔ EARNERS 6.9 7-78 8-78 AMO CLERICAL 1911.9 2 0 0 .6 7.4 5>-7B 10-78 11-78 12=78 1-79 WORKERS NOVEMBER 27* 1979 SEASONALLY ADJUSTED COMPOUNDED TERMINAL M O N T H ----3-78 ANNUAL RATES OF CHANGE 1967 • 100 INITIAL MONTH 4-7tt 5-78 6-78 7-78 8-78 9-78 10-78 11-78 12-78 1-79 2-79 3-79 4-79 5-79 6-79 7-79 8-79 9-79 2 0 6 .1 ¿ 0 7 .5 9.7 9.2 9.3 ¿ 0 9 .1 7.8 7.5 5.3 6. 8 6.3 4 .7 7.5 7.3 6.5 8 .6 8.7 8.4 8 .8 l ¿ —7b 9 .4 6 .9 8 .9 8 .8 2 1 0 .0 ¿10.7 7.1 10.1 ¿12.** 9.5 12.3 14.4 9.6 11.5 12.2 9 .5 1 0 .9 1 1 .2 9 .6 ¿ 1 8 .1 9 .2 1 r 1 -7 9 1 0 .1 9 .8 9 .9 1 0 .0 1 0 .8 1 2 .1 1 2 .6 1 2 .1 1 3 .1 1 7 .2 2 -7 9 1 0 .9 1 0 .6 1 0 .8 1 1 .0 1 1 .8 1 3 .1 1 3 .7 1 3 .6 1 4 .8 1 7 .7 1 8 .2 ¿ 2 * .l 1 3 .9 1 5 .0 1 6 .9 1 6 .8 ¿ 2 6 .8 221 .u 3 -7 9 1 1 .2 1 1 .0 1 1 .3 1 1 .4 1 2 .2 1 3 .5 1 4 .0 4 -7 9 1 1 .6 1 1 .4 1 1 .7 1 1 .9 1 2 .6 1 3 .8 1 4 .3 1 4 .3 1 5 .1 1 6 .7 1 6 .5 1 5 .7 1 5 .9 \ 5 -7 9 1 1 .4 1 1 .2 1 1 .5 1 1 . to 1 2 .3 1 3 .2 1 3 .6 13*5 1 4 .1 1 5 .1 1 4 .6 1 3 .5 1 2 .5 6 -7 9 1 1 .2 1 1 .0 1 1 .2 1 1 .3 1 1 .9 1 2 .7 1 3 .0 1 2 .8 1 3 .3 1 3 .9 1 3 .3 12*1 1 1 .0 7 -7 V 1 1 .6 1 1 .4 1 1 .6 1 1 .8 1 2 .3 1 3 .1 1 3 .4 1 3 .3 1 3 .7 1 4 .4 1 3 .9 1 3 .1 1 2 .5 1 1 .4 1 2 .5 1 7 .2 b —79 1 1 .6 1 1 .4 1 1 .6 1 1 .8 1 2 .3 1 3 .0 1 3 .3 1 3 .2 1 3 .5 1 4 .1 1 3 .6 1 2 .9 1 2 .4 1 1 .5 1 2 .3 1 4 .5 1 1 .8 9 -7 9 1 2 .0 1 1 .9 1 2 .2 1 2 .3 1 2 .8 1 3 .6 1 3 .8 1 3 .8 1 4 .2 1 4 .7 1 4 .4 1 3 .9 1 3 .7 1 3 .2 1 4 .2 1 6 .4 1 6 .0 2 0 .3 1 0 -7 9 1 2 .3 1 2 .2 1 2 .5 1 2 .7 1 4 .2 1 3 .8 1 4 .1 1 4 .1 1 4 .5 1 5 .0 14. B 1 4 .4 1 4 .2 1 4 .0 1 4 .9 1 6 .7 1 6 .5 1 9 .0 > -fO o —t o f —fO B -f® W V Z -fV 4- 4 -7 9 » -7 9 6 -7 9 i- f # iw - r u 1 1 - 1 2 —f o H UI1ÂL r§ ¿ 2 9 .6 15 Q % ¿ 3 1 .4 2 3 2 .8 R 8 .7 2 3 5 .9 2 3 6 .1 2 4 1 .8 1 7 . 7 s) 2 4 5 .1 MUN I H R-Revised P R E P AHED B T HfaUER NOVEMBER 1» 1979 4 vfc bAim. Uh S I . L IA I I S PRICES RATIO SCALE I 967-100 --------230 ,----------- , - SE A S O N A L L Y , RATIO A D JU S T E D SCALE 1967-100 230 220 220 210 “ y y 4 ^^225 210 ALL II 1976 URBAN PERCENT JUL. 218.4 12.3 200 AUG. 220.7 13.4 SEP. 223.1 13.9 O CT. 225.3 12.5 190 NOV. DEC. 180 PERCENT IS COMPOUNDED ANNUAL RATE OF CHANGE 200 190 180 x ry A 170 290 160 280 270 \ 150 0£C A ìy 14 0 CONSUIyIER - AII 130 ^ ■ yy+15. OX// / / a 1TP! r v ^7T4'5.t 1y y 1 A Y 120 JUNE'S/ Mpy. -W f£8. / ' J 240 230 220 / y * 210 200 y -------- j 190 250 +Q fiy y 1 / IT 1 10 260 190 I 80 180 ,/M 5 ] 70 / 160 — 150 *18. 9X , — Á 140 1 ,/ / 30 +4. i I 20 +4. 6Z ^ 170 r 160 150 rY J 140 r 130 PRODUCE:R AL L COMMI3D 1T i ES 120 * $ 10 r I 00 1 - OCT. VV ___ L i1 1971 1972 I 10 mr. 'TV ♦jL 1973 1974 1 .. 1975 1976 19 7 7 t 1978 100 1979 ILCPI-U FOR ALL URBAN CONSUMERS K.CPI-* FOR URBAN VASE EARNERS ANO CLERICAL WORKERS PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INOICATED. LATEST DATA PLOTTEDt OCTOBER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS RATIO SCALE 1967-100 PRODUCER SEASO N ALLY PRICES A D JU S T E D RATIO SCALE 1967-100 PERCENTAGES ARC ANNUAL RATE* OF CHANGE FOR PERIODS INOICATED. LATEST DATA PLOTTED* OCTOBER P R E P A R ID BY FED ERAL R E SE R VE BANK OF S T . 5 L O U IS PROOUCER P R IC E IN O EX » IN D U S T R IA L CO M M O DITIES - SEA SO N A LLY A D JU ST ED COMPOUNDED ANNUAL R ATES OF CHANGE TERMINAL____________ ________ ______________________________________ I N I T IA L MONTH_________ ______ MONTH 1 -7 9 2 -7 9 3 -7 9 3 -7 8 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 4 -7 6 1 0 .5 5 -7 6 9 .5 6 -7 6 9*3 8 .8 9 .0 7 -7 8 9 .2 8 .8 9 .0 9 .0 0 -7 6 8 .9 8 .5 8 .6 8 .3 7 .7 9 -7 8 8 .7 8 .4 8 .3 8 .1 7 .7 7 .6 1 0 -7 8 9 .0 8 .7 8 .8 8 .7 8 .6 9 .1 1 0 .6 1 1 -7 8 9 .1 8 .9 9 .0 9 .0 9 .0 9 .4 1 0 .3 9 .9 1 2 -7 8 9 .0 8 .8 8 .8 8 .8 8 .6 9 .1 9 .5 9 .0 8 .1 ___ 4 -7 9 5 -7 9 . i* > 7 * 100 6 -7 9 7 -7 9 8 -7 9 9 -7 9 8 .5 ¿ ij ?. 1 ¿0 6 .6 ¿1 0 .1 ¿1 1 .4 212 ./ 21*.t> 217.0 ¿2 0 .2 1 -7 9 9 .6 9 .5 9 .6 9 .7 9 .8 1 0 .3 1 1 .0 1 1 .1 1 1 .6 1 5 .3 2 -7 9 1 0 .0 1 0 .0 1 0 .2 1 0 .3 1 0 .5 1 1 .0 1 1 .7 1 1 .9 1 2 .6 1 4 .9 1 4 .5 3 -7 9 1 0 .4 1 0 .4 1 0 .6 1 0 .8 1 1 .0 1 1 .5 1 2 .2 1 2 .5 1 3 .2 1 4 .9 1 4 .7 4 -7 9 1 1 .0 1 1 .0 1 1 .3 1 1 .5 1 1 .8 1 2 .3 1 3 .0 1 3 .4 1 4 .1 1 5 .6 1 5 .7 1 6 .4 1 7 .8 5 -7 9 1 1 .3 1 1 .4 1 1 .6 1 1 .9 1 2 .2 1 2 .7 1 3 .3 1 3 .7 1 4 .4 1 5 .7 1 5 .7 1 6 .2 1 6 .8 1 5 .7 V 6 -7 9 1 1 .5 1 1 .6 1 1 .8 1 2 .0 1 2 .3 1 2 .8 1 3 .4 1 3 .7 1 4 .3 1 5 .3 1 5 .4 1 5 .6 1 5 .8 1 4 .8 1 3 .8 ¿3 3 .7 R 7 -7 9 1 1 .9 1 2 .0 1 2 .3 1 2 .5 1 2 .9 1 3 .3 1 3 .9 1 4 .3 1 4 .8 1 5 .8 1 5 .9 1 6 .2 1 6 .5 1 6 .1 1 6 .3 1 8 .9 ¿3 7 .1 8 -7 9 1 2 .3 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 .6 1 6 .6 1 6 .9 18.5 1 8 .0 9 -7 9 1 2 .6 1 2 .8 1 3 .1 1 3 .3 1 3 .6 1 4 .1 1 4 .7 1 5 .0 1 5 .6 1 6 .4 1 6 .6 1 6 .9 1 7 .2 1 7 .1 1 7 .4 1 8 .6 1 8 .5 18^ 9^ ^ 243. V 1 0 -7 9 1 3 .2 1 3 .3 1 3 .6 1 3 .9 1 4 .3 1 4 .7 1 5 .3 1 5 .7 1 6 .3 1 7 .1 1 7 .3 1 7 .7 1 8 .1 1 8 .1 IS .6 1 9 .8 2 0 .1 2 1 .1 23^ 1 ¿ * 6 .2 3 -7 8 4 —7B 5 -7 8 6 -7 8 7-71 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—79 6 -7 9 7 -7 9 8 -7 9 9 -7 9 222.7 ¿2i>.3 1 4 .9 220.4 v 17 l A t1% /o- 231.2 2* 0 . * \ I N I T I A L itONfH R-Revised PROOUCER P R IC E IN O EX , FARM PROOUCTS & PROCESSED FOODS t CONFOUNDED ANNUAL RATES OF CHANSE FEEDS - SEAS* A D J . TERMINAL_____________________________________________________________ I N I T I A L MONTH______________________________________________________________ 1 9 6 7 « 1QO nm vut 3 -7 B 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—79 3 -7 9 4 -7 9 5 -7 9 6 -7 9 7 -7 9 8 -7 9 9 -7 9 2 0 5 .4 4 —78 2 8 .1 5 -7 8 1 6 .2 5 .4 6 -7 8 1 5 .8 10.0 7 -7 8 9 .4 3 .8 2 .9 —7 . 8 8 -7 8 5 .3 0 .3 -1 .4 —8 .6 9 -7 8 8 .0 4 .4 4 .1 0 .8 5 .3 2 2 .5 1 0 -7 8 11.2 B .5 9 .2 7 .8 1 3 .6 2 7 .2 3 2 .0 1 1 -7 8 10.8 8.6 9 .1 8 .0 1 2 .3 2 0 .7 1 9 .8 8. 1 2 -7 8 1 0 .9 9 .0 9 .5 8 .6 12.2 1 8 .4 1 7 .1 10.2 1 1 .7 1 -7 9 12. 2 10.6 1 1 .3 1 0 .7 1 4 .2 1 9 .6 1 8 .9 1 4 .8 1 7 .9 2 0 0 .3 2 0 6 .7 1 4 .9 2 0 7 .3 -9 .4 2 0 5 .6 2 0 9 .1 21* . 0 2 1 5 .5 2 1 7 .5 2 4 .4 ¿ 2 1 .5 2 -7 9 1 4 .0 1 2 .7 1 3 .5 1 3 .4 1 6 .8 21.8 2 1 .7 1 9 .2 2 2 .9 2 8 .9 3 3 .5 3 -7 9 1 4 .6 1 3 .5 1 4 .3 1 4 .2 1 7 .3 2 1 .7 21.6 1 9 .6 2 2 .5 2 6 .4 2 7 .3 2 1 .4 4 -7 9 1 3 .7 12.6 1 3 .3 1 3 .1 1 5 .7 1 9 .3 1 8 .9 1 6 .8 1 8 .5 2 0 .3 1 8 .9 12.2 5 -7 9 1 1 .8 1 0 .7 11.1 1 0 .8 12.8 1 5 .6 1 4 .8 1 2 .5 1 3 .1 1 3 .4 10.8 4 .1 -3 .6 -1 0 .4 6 —7 9 1 0 .2 9 .1 9 .4 8 .9 1 0 .6 12.8 1 1 .8 9 .5 9 .6 9 .2 6 .4 0 .5 - 5 .6 -9 .9 —9 . 5 7 -7 9 . 1 0 .2 9 .1 9 .3 8 .9 1 0 .4 1 2 .4 1 1 .5 9 .4 9 .5 9 .2 6 .8 2 .1 -2 .2 - 4 .1 - 0 .8 8 .8 8 -7 9 9 .1 8 .0 8 .2 7 .8 9 .1 1 0 .7 9 .7 7 .7 7 .6 7 .1 4 .8 0 .7 -3 .0 -4 .6 —2 .6 1 .1 9 -7 9 9 .8 8 .8 9 .0 8 .6 9 .9 1 1 .» 1 9 .7 8 .9 8 .9 8 .6 6.8 3 .4 0 .7 0 .1 2 .9 7 .4 6 .7 2 1 .3 1 0 -7 9 9 .2 8 .2 8 .4 8 .0 9 .2 1 0 .6 9 .8 8 .1 8 .0 7 .7 5 .9 2 .9 0 .5 0 .0 2 .2 5 .4 4 .3 9 .9 —0 . 5 3—7 8 4 -7 8 5 -7 » 6 -7 8 7 -7 8 8 —7 8 9—7 8 1 0 —7 8 11— *8 12—78 "T=7*" 2-79 3--T9 4-79 5-79 6-79 7 -7 9 8 -7 9 9-79 2 2 6 .V 2 3 0 .6 2 3 1 .3 3 .7 2 2 9 .2 2 2 7 .3 2 2 8 .9 2 2 7 .7 —6 . 1 2 3 1 .4 2 3 1 .3 , IN ITIA L M0N1W -------------------------- FR EFA R ED B Y FEOEfcAL R E S E » ¥ lT ftA N R OF S T . LOU I s NOVEMBER 1 » 1979 6 INDUSTRIAL RATIO PRODUCTION SCALE RATIO 1967-100 1971 S E AS ON A L L Y 1972 1973 1974 1975 1976 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO O S LATEST DATA P lO T T E D t SCALE 1967-100 ADJ USTED 19 77 1978 1979 IN D ICAT ED . OCTOBER P R ELIM IN A R Y PREPARED BY FEDERAL R E SE R V E BANK OF S T . L O U IS INDU STRIAL PRODUCTION CUHPQUNOED ANNUAL RATES OF CHAN6E TERMINAL____________________ Ho n t h 3 -7 6 * - 7 8 5 -7 6 ______________________________________ I N I T I A L MONTH__________________________________________________________ 1967 » 100 6 -7 6 7 -7 8 8 -7 8 9 -7 8 1 0 -7 8 1 1 -7 « 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 * * .* * -7 6 21*2 5 -7 8 12*0 3 .* 6 -7 8 1 1 .7 7 .3 1 1 .3 7 -7 8 1 0 .9 7 .7 9 .9 8 .5 8 -7 6 1 0 .3 7 .7 9 .1 6 .1 7 .6 V—78 9 .* 7 .1 8 .1 7 .0 6 .3 5 .0 1 0 -7 8 9 .3 7 .5 6 .3 7 .6 7 .3 7 .1 1 1 -7 8 9 .1 7 .5 8 .2 7 .6 7 .3 7 .2 1 2 -7 8 9 .2 7 .8 8 .* 8 .0 7 .8 7 .9 8 .9 8 .7 1 0 .0 1 -7 9 8 .0 6 .6 7 .0 6 .* 6 .1 5 .B 6 .0 * .9 3 .6 1 \ - 2 .3 2 -7 9 7*6 6 .3 6 .7 6 .1 5 .8 5 .5 5 .6 * .7 3 .8 0 .8 * .0 3 -7 9 7 .7 6 .5 6 .8 6 .3 6 .1 5 .9 6 .0 5 .* * .9 3 .2 6 .1 * -7 9 5 .6 * .* * .5 3 .9 3 .4 2 .9 2 .6 1 .5 0 .3 - 2 .0 - 1 .8 5 -7 9 6 .2 5 .1 * .0 3 .9 6 -7 9 5 .9 7 -7 V 5 .6 6 -7 9 1 * 4 .6 1 * 6 .1 1 * 7 .1 1 4 6 .0 1 * 8 .6 1 * 9 .7 9 .3 1 5 0 .6 7 .5 5 .2 * .7 * .3 * .8 5 .0 * .* * .1 3 .7 3 .6 2 .9 * .6 * .7 * .2 3 .9 3 .5 3 .* 2 .8 3 .2 2 .8 2 .* 2 .2 1 .5 3 .1 2 .* 1 5 1 .« 1 5 1 .5 1 5 2 .0 8 . 2 \ -* .6 -1 6 .0 - 2 .3 1 5 3 .0 1 5 0 .« __ /o 1 5 2 .* 1 .0 1 .8 1 .1 2 .3 1 .1 1 .8 1 .2 -1 .0 7 .4 1 . 6 \ 2 .2 1 .1 1 .7 1 .3 -0 .4 5 .4 1 .6 1 .6 0 .9 - 0 .2 0 .1 - 0 .5 - 2 .2 1 .6 -2 .1 -3 .9 -9 .0 1 3 .5 \ 152*6 1 5 2 .o * .7 3 .7 3 .7 9 -7 9 * .7 3 .8 3 .9 3 .* 3 .0 2 .7 2 .5 1 .9 1 .* 0 .* 0 .6 0 .3 - 0 .9 2 .4 -0 .2 -0 .« - 1 .9 5 .7 1 5 2 .3P 1 0 -7 9 * .6 3 .7 3 .7 3 .3 2 .9 2 .6 2 .* 1 .9 1 .* 0 .6 0 .9 0 .5 -0 .6 2 .3 0 .2 - 0 .2 -0 .8 3 .6 1 5 * . 5P 3 -7 8 * -7 6 5 -7 6 6 -7 6 7 -7 6 6 -7 6 9 —76 "1 6 -7 8 11=76 1 2 -7 6 T = 7 * 2 -7 9 5 -7 9 4 -7 9 5 -7 9 6 - 7 ^ "7= 79 « -7 9 1 5 1 .6 9 -7 9 INITIAL MklH "P- PktLlHlNARY---------------------------------------------------------------------------— — ----- PREPARED BY FtOCRAL RESfcRVE BAMK UF S I. L001T NOVEMBER 15* 7 1979 PERSONAL RATIO SCALE T R I L L I ONS OF INCOME MONTHLY TOTALS AT ANNUAL DOLLARS RATE S RATIO TRILLIONS SE AS ON A L L Y ADJUSTED OF SCALE DOLLARS 0. SOURCE: U .S . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS INDICATED. LATEST DATA PLOTTEDt OCTOBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL INCOME COMPOUNDED ANNUAL RATES OP CHANGE B IL L IO N S OF ANNUAL RATES MONTH 7* 4 -T S . _ M 8 T .T A ft-7 ® 9 -7 ® 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 .6 7 6 . 5 1 7 .3 _____ 1 2 .5 -6sZ8___ 12.6__I ___ 14*3. -13 _a=ia_ 1 3 .1 1*_6&7*3_ __ 8 .0 1 H f l___ 12*Z 1 12* 7 1 6 .2 __ l* * ft_ 13.4__ 13*8___ 8.1 1 2 .7 1 2 . 7 ____ 2 mA ___ 1 £ U I _ 1 3 .8 1 4 .1 __ 12 * 1 __ 1 4 .5 10-78___ 13.5 1 11t 78___ 13*6 1 1 4 .0 1 4 .2 1 2 .9 __ 14>S 16«? 1.4*6 12-78___ 14*J__ 1 14.6 14.9 14.0 17.1 16.5 1 3 *3 1 3 .4 1 2 .4 __ 1 3 .3 __ L k a fl__ 12*5__ 11.» 1-79___ 1 3 .2 1 13.S 1 8 .4 l «7gU 0 lt f l Q U 4 18.3 1 .6 2 6 . 8 -2=28___ 13*1__ 1 1 3 .2 1 3 .2 1 2 .3 13. 5 1 2 .3 l l . é ___ B .4 11.8 -3-79___ 13.2 1 1 3 .3 ta . 3 12-6__ 13.2 __ 13.6 12.7 12.2__ 10.3 13.0 14.3 -4-79___ 12.6 1 1 2 .6 1 2 .6 1 1 . • __ 1 2 .2 1 2 .5 1 1 .5 1 0 . 9 ___ ft* l__ 1 0 ,5 9.9 -.5-79___ 12*2__1 1 2 .1 1 2 .1 1 1 .3 __ 1 1 . 7 1 1 . â__ 10.9 -6.-79___ 11*3-1 1 1 .9 il. â ll. l 11 .4 1 1 . 5 __ 10*4— 10.1 -1-79___ 12.4 1 2 .4 1 2 .3 1 1 .7 1 2 .1 __ 12.2 1 - B-79___ 12*1__ 1 1 3 -0 _12*1__ 12*11 11.5__ 1 1 .7 1 1 .8 1 .8 5 1 .4 1 .8 7 2 .1 10.3___ ft*!___ 9*X___ 9.0 _a*a___ a * 5 _ 9.0 1 > 90 5.1 11.6 1 1 *2 __ lû*2__ 1 1 .1 1 0 .9 __ 10*1__ 11.6 13.9__ 19.2 11*2 1 0 .8 9 .9 __ 1 0 .7 1 0 .5 ___ ______ 10.B 12.0 1 0 .6 ___ 9 . 7 13.^ -g-79___ 11.9 1 11.A 11.8__ 1 1 .2 1 1 .5 1 1 .5 1 0 .9 1 0 .3 1 0 .1 ____2*5__ 10.2 11.0__ 11.7-- 8*1 11.8 1 1 1*8 ___1 1 *7 ___1 1 .2 1 1 .4 1 1 .5 1 0 .9 ___1 0 .6 9 .8 1 0 .4 1 0 .2 9 .6 1 0 .3 1 0 .9 ___ 1 1*4 ____i * D --- 9 * 3 -- 1 0**6 .6 ^ ___ 1 >975*1 3-78 4 -7 5 -7 8 8 -7 B 9 -7 8 10-78 11-78 12-78 1-79 2-79 3-79 4 -7 9 5 -7 9 -10-79 6—78 7-7 8 6-79 7-79 1 .9 5 8 .6 8-79 9 -7 9 I N I T I A L MONTH P - P R E L IM IN A R Y PREPA RED B Y FE D E R A L R E S E R V E NOVEMBER 20* 1979 8 BANK OF S T . L O U IS RETAIL RATIO SALES RATIO SCALE B I L L IONS OF DOLLARS SEA SO N A LLY A D JU S T E D BILLIONS OF SCALE DOLLARS 80 80 75 ^ ty 70 -^75.5 70 / 65 / / 65 +12.I* / 60 60 A 55 75 55 y 50 50 +s5.JZ^ ' r^ A - / 45 45 / A , +12. * A / 40 & 40 A 35 35 1 ÌT 1971 1972 % âcr. '/* \L . JL Â(if. 'SS ........ J It . Ft r 30 1 1973 1974 1975 1976 1977 1978 30 1979 . SOURCE: U .S . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INOICATED. LATEST DATA PLOTTED» SEPTEMBER, OCTOBER ADVANCE ESTIMATE ANK OF ST. LOUIS R E T A IL S A LES TEBHINAL I N I T I A L MOUTH HONTH 4 rJ8 W fl W f t _7-78 8-7S 9-78 10r7ftll-78 IZ-.Tß... .L=M -.JE-79 3-79 4-79 5r79 6-79 7-79 8-79 9r79 M ILLIO N S Q£ DOLLARS $ 2 .1 4 0 i£ . > 2 2 _12u*3___ l i f t . - . 7 —7 8 ___ 10 #4___ 6 «8___________ 6 7 .3 0 3 ? - I fl___ 1 2 .9 1 1 .2 12 «2 1 3 .5 1 8 .1 14*9 13.1 1 1 -7 8 14 »6 llr lf t ___ 14«? 6 8 .9 7 1 1 3 ,3 1 4 .7 15*9 18*9 1 8 .1 19*7 22*7 13«6 14*5 l?*fe 17 «9 17«0 m . tfl*2__ 13«8 . A * ft 8*9 8*9 10*9 U *Z 11.4 12 «8 3—7b 5*X 2_*3___8*2_ 11^ 1 0*^ 10*6 11*0 10*3 i>-7b 6-78 7-78 8-78 9*9 9 *4 1 1 .4 8 *3 1 1 -1 1*1 9-78 10-78 11-78 12-78 IN IT IA L 1 2 -7 1 3 -9 1 3 -5 8 *7 9 .3 8 *2 1-79 2-79 3 -7 9 I V iì ìH 3 . 9 ___ 5 * 9 17*0 11*1__ 10*8 - 10*2___ 8.9 12*3__ 1 2 ^ __ 12*2__ 13_*2__ 12*2__ 12*1 __ 12*4 4-78 _20j.L08-_ _ 2 7* 7 4 8 -5 " 19*1 __ 21*5__ 30*5__ 42*2— ZtuZl 1 1 .8 ___ 12*2 16*0__ IÆ42___ 5*4 4-79 6-79 5-7 9 7-79 8-79 = 1 8 *4} 9-7 9 NONTH H - PRELIM INARY 6 ST I HAT ED PR EPA R ED BY FED ERA L R E S E R V E BANK OF S T . NOVEMBER 1 4 . 1979 9 L O U IS HOURLY CO HPfcNSATIUN, P R IV A T E B U S IN E S S SECTOR * COMPOUNOEO ANNUAL R ATES Of CHANGE___________ ftK M IN A L QUARTER I N I T I A L QUARTER 4-74 1-75 ¿-75 1— 75 11.1 2 — 7t 9.9 3 — 75 8*5 7.2 5.7 ‘ »-T* 8.6 7.7 7.2 1-76 8.9 2-76 8.9 b.5 8.4 3—75 4-75 9.4 9.7 1-76 2-76 3-76 4-76 1-77 ¿-77 1 *67 J-L lOO 3-77 *-77 1-78 2-78 3-7b 4 - 7b 1-79 ¿-79 1~ \ 7 . 2 % b.7 * *fL 1 * 5 .3 6*6 8.6 8.6 8.3 b*2_ 6.2 8.6 8.5 8.1 7.9 7.8 7.2 6.1 3-77 Ö.6 b. 3 8.3 8.6 8.6 8.2 8.1 8 .0 7.7 7.5 8 .8 ^ " V 4-77 8.3 6.1 o.O 8.3 8.2 7.9 7.8 7.6 7.3 7.0 7.4 6.1 \ _l-?b 8.5 8.3 8.3 8.6 8.5 8.3 8*2 6.2 8.0 7.9 8.6 8.4 1 0 . 9 ^ \ 8^3 8.5 8.5 8.2 8.2 8.1 8.0 7.9 8.4 8.3 9.4 8.5 9.3 2 — 7jö ¿ 1 0 .0 * \ 0ft. 0ft% /o ¿IV.3 ¿lb.5 ¿¿4.2 ¿¿b.5 3-7 o 8.5 b.4 6.3 8.6 8.5 8.3 6.3 8.3 8.2 8.1 8.6 4—7b 8.5 8.4 b.3 8.6 8.5 8.4 8.3 8.3 8.2 b *2 8.5 6.5 9.1 8.5 8.9 8.5 I— 7v 8.7 _ b. 5 b.5 b.7 b.7 8.6 8.6 8.6 8.5 8 .6 6.9 b.V 9.5 9.2 9.6 9.8 11.2 244.6 2-7V 6.7 8.6 6.6 8.8 8.8 8.6 8.6 8.6 8.6 8.6 9.0 9.0 9.5 9.2 9.5 9.6 10.2 250.3 3-7V 8.7 tt.6 8 . 6 __ l b « 8 I 8.7 8.6 8.6 8.6 8.6 8.6 8.9 b.9 9.3 9*1 9.3 9.3 9.6 8.8 4-74 1-75 4-75 1-76 2-T6 3-76 4— 76 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 J 2-75 3 — T5 8.6 ¿33.6 23b .4 8.4^ 255.4P 2 -7 9 V Aà #' • H E V lS tO FRO M _1977. p- PRÉ l i m i n a r y OUTPUT PER HOUR O f A L L PERSONS» PR IV A TE BUSIN ESS SECTOR* ____________ CUWPOUNOEO ANNUAL RATES OF C H A N G E ___________ TERMINAL_________ ______________ ____________________________________ I N I T I A L QUARTER____________________________________________________________ 196 7 » lO O QUARTER 1 -7 7 1 -7 9 2 -7 9 2 -7 7 3 -7 7 4 -7 7 1 -7 8 2 -7 8 3 -7 8 4 - 7 8 3 -7 6 4 -7 6 4 -7 4 2 -7 5 3 -7 5 4 -7 5 1 -7 6 2 -7 6 1 -7 5 1 0 V .3 1 -7 5 1 .1 2 -7 5 6 .3 1 1 .8 3 -7 5 6 .7 9 .5 4 -7 5 4 .3 5 .4 2 .3 11 V -2 .4 1 -7 6 5 .0 5 .9 4 .1 2 .5 2 -7 6 4 .4 5 .0 3 .4 2 .1 1 1 2 .4 ,> 1 H 4 -* 1 1 3 .7 1 1 5 .8 4 .4 1 1 6 .2 1 .4 1 1 6 .7 3—76 4 .0 4 .5 3 .0 2 .0 1 .6 1 .7 4 -7 6 3 .7 4 .1 2 .8 2 .0 3 .1 1 .6 1 .7 1 .7 1 -7 7 3 .8 4 .1 3 .1 2 .4 3 .4 2 .3 2 .6 3*1 1 1 7 .2 4 .5 \ K 4 % 11b .5 1 1 7 .9 2 -7 7 3 .2 3 .4 2 .4 1 .7 1 .4 1 .5 1 .4 1 .2 ___3^77 ___ 3 .4 3 .6 2 .7 2 .2 2 .1 2 .2 2 .3 2 .5 1 .5 5 .2 4 —77 2 .9 3 .1 2 .2 1 .7 1 .5 1 .5 1 .4 1*4 0 .3 1 .5 -2 .0 1 .8 1 .1 1 .1 1 .0 0 .8 —O . l 0 .6 -1 .7 1 -7 8 2 .4 -2 .0 s 1 1 9 .4 llb .b llb . 4 -1 .3 2 .6 2 .7 2 -7 8 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 3 —7b 2 .5 2 .6 2 .0 1 .5 1 .9 1 .3 1 .3 1 .3 1*2 0 .7 1 .2 0 .3 1 .0 2 .2 2 .* ^ \ 1*2 1 .2 1 .2 1 .1 0 .6 1 .1 0 .3 0 .8 1 .6 1 .3 1 .5 f l.4 I 1____ 1 .1 1 .8 1 .4 0 .9 0 .8 0 .7 0 .6 0 .2 0 .5 -0 .3 0 .1 0 .4 -0 .1 -1 .3 - 3 .0 1 .3 0 .9 1 .1 0 .6 0 .6 0 .5 0 .3 - 0 .1 0 .1 -0 .6 -0 .3 -O .l - 0 .7 -1 .7 -2 .7 - 2 4 -7 b 1 -7 9 2 .4 _ 2 .5 _ 1 .9 1 .8 1 .4 1 1 9 .0 1 1 9 .7 0 . 3 V'— I 1 1 9 .6 ^ lib .9 2 -7 9 1 .6 1 .9 3 -7 9 1 .7 1 .8 0 .8 1*1 0 .6 0 .6 0*5 0 .3 -O .l 0 .2 - 0 .5 - 0 .2 -0 .1 -0 .5 -1 .2 -1 .7 - 1 .0 4 -7 4 1 -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 . i \ 0 . 3 s) lib . 2 llb . 3 P 2 -7 9 I N I T I A L QUARTER ♦ R EV ISED FROM 1 9 7 7 . P - P R E L IM IN A R Y PR E P A R E D » V F E D E R A L R E S E R V E bANK O F S I . NOVEMBER I » 1979 10 L O U IS PRODUCTIVITY, COMPENSATION, AND LABOR C O S T S * RATIO SCALE RATIO 1967-100 SEA SO N ALLY 1971 1972 1973 1974 A D JU S T E D 1975 SCALE 1967-100 1976 1977 1978 1979 SOURCEt U.S. DEPARTMENT OF LABOR PERCENTACES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED» 3RD OUARTER PRELIMINARY PREPARED BY FEOERAl RESERVE BANK OF ST. LOUIS UNIT LABOR COSTS» PRIVATE BU SIN ESS SECTOR* ___________________ COHPOUNOEO ANNUAL RATES O f CHANCE_____________________ TERMINAL_____________________________________________________________ I N I T I A L QUARTER____________________________________________________________ 1 967 » 100 Q U A R tlR 4 -7 4 1—75 2 -7 5 4 -7 5 1—76 2 - 7 6 4 -7 7 3 -7 5 3 -7 6 4 - 7 6 1 -7 7 2 -7 7 3 -7 7 1 -7 0 2 -7 8 3 -7 0 4 -7 0 1 -7 9 4 -7 9 _ 1 -7 5 9 *4 2—75 3*2 - 2 . 7 V 3 -7 5 1*6 - 2 .1 4 -7 5 4*0 2 .2 4*8 7 .0 \ A. 1 6 4 .3 1 /O 160. ^ 1 5 * .6 I*— ir 1 1 .5 1 6 4 .0 1 -7 6 3 .7 2 .4 4 .1 2 -7 6 4*3 3 .4 4 .9 7 .2 5 .1 3 -7 6 4*6 3 .6 5 .2 7 .0 5 .5 6 .9 6 . 3 \ 4 -7 6 5*0 4 .4 5 .6 7 .1 6 .0 7 .1 6 .9 7 .5 1 -7 7 4*8 4 .2 5 .2 6 .4 5 .4 6 .1 5 .7 5 .3 2 -7 7 5 .2 4 .7 5 .6 6 .7 5 .9 6 .6 6 .4 6 .4 5 .8 6 .5 1 7 6 .0 3 -7 7 5*0 4 .5 5 .4 6 .3 5 .5 6 .0 5 .7 5 .6 4 .9 5 .8 1 0 0 .4 4 -7 7 5 .2 4 .9 5 .7 6 .5 5 .9 6 .3 6« 1 6 .1 5 .8 6 .6 5 .7 1 -7 « 5 .8 5 .5 6 .3 7 .1 6 .6 7 .1 7 .1 7 .2 7 .1 8 .1 0 .0 1 0 .5 2 -7 8 5*8 5 .5 6 .2 7 .0 6 .» 7 .0 6 .9 7 .0 6 .9 7 .6 7 .4 0*9 9 .2 5 .0 3 -7 8 5*9 5 .6 6 .3 6 .9 6 .5 6 .9 6 .9 6 .9 6 .9 7 .5 7 .3 0 .3 0 .4 6 .2 4 -7 6 6*0 5*8 6 .4 7 .0 6 .7 7 .0 7 .0 7 .1 7 .0 7 .6 7 .4 0*3 8 .3 6 .0 7 .3 1 -7 9 6 .5 6 .3 6 .9 7 .5 7 .3 7 .6 7 .7 7 .8 7 .0 8 .4 0 .4 9 .3 9 .5 0 .7 9 .7 1 1 .3 1 4 .6 \ 1 1 . 5 % ¿ U d .V 2 -7 9 6*8 6 .6 7 .2 7 .« 7 .6 6 .0 a .o 8 .1 8 .2 8 .8 0 .8 9 .6 9 .9 9 .3 1 0*2 1 1 .4 1 3 .2 ¿ 1 1 .7 3 -7 9 6 .6 6 .7 7 .3 7*9 7 .6 8 .0 8 .0 8 .2 8 .2 8 .7 8 .0 9 .5 9 .7 9 .2 9 .0 1 0 .7 1 1 .5 1 0 .1 4^T4~ 1 -7 5 2 -7 5 4 —75 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 0 2 -7 0 3 -7 0 4 —70 1 -7 9 « U V I S t O fRQ H 1 9 T 7 . P— P R E L IM IN A R Y _ _ 1 6 5 .1 ___ 1 6 4 .1 1 7 0 .? 1 7 3 .0 3 .3 \7 J0 % 1 7 5 .2 1 0 3 .0 12 lO V .H 1 M .1 195. c 0 .0 s 1 9 9 .0 0 . 4 sv ¿ 1 6 . OF 2 -7 9 I N I T I A L QUARTER __ _____________________ PREPARED BY FEDERAL R ESER V E BANK O f S T * L O U IS NOVEMBER 1» 1979 11 GROSS NATIONAL PROOUCT IN CURRENT DOLLARS COMPOUNDED ANNUAL R A T ES OF CHANGE TERM IN A L B lL L t O N S OF DOLLARS ANNUAL R A T E S INITIAL QUARTER QUARTER 4-74 1-75 2-75 1-75 2-75 3—73 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 1-79 2-79 0*6 6*5 1 t A_34_._7 1 2 .6 1 ,4 9 8 .6 "INITIAL"ffUARTCft GROSS NATIONAL PROOUCT IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE B IL L IO N S OF TERMINAL_____________________________________________________________ I N I T I A L Q U A RTER_______ ______ ___________________________________________ DOLLARS ANNUAL RATES QUARTER 1-78 2-78 3-78 4-78 1-79 2-79 1-77 2-77 3-77 4-77 4-7 4 1-75 2-75 3-75 4-75 1-76 2-76 3-76 4-76 1-75 -9 .0 2-75 -1 .6 6 .4 1 0 .5 .. 1•171.6 ___ 1 .1 8 9 .9 3-75 2 .3 8 .4 4-75 2 .4 6 .5 6 .5 2 .6 6 .6 1-76 4 .0 7 .5 7 .9 2-76 3 .7 6 .5 6 .5 3-76 3 .6 5 .9 5 .8 4 .7 1 .2 2 7 .9 I f 259..5 10 .7 1.^ 5 .4 1*267.4 2*8 3 .1 1 .2 7 7 .1 1.2 8 8 .1 4-76 3 .6 5 .6 5 .4 4 .4 4 .9 3 .0 3 .3 3 .5 1-77 4 .2 6 .0 5 .9 3*2 5 .7 4 .5 5 .1 6 .1 8 .8 2-77 4 .2 5 .8 5 .8 5 .1 5 .5 4 .5 5 .0 5 .7 6 .8 1 .3 1 5 .7 _ A X 07 J " 1*331.2 1 .3 5 3 .9 3-77 4 .5 6 .0 5 .9 $•3 5 .7 4 .9 5 .4 6 .0 6 .9 5 .9 4 -7 7 4 .3 5 .6 5 .5 5#0 5 .3 4 .5 4 .9 5 .2 5 .7 4 .6 4 .6 2.2 1-78 4 .1 5 .3 5 .2 4 .7 4 .9 4 .2 4 .5 4 .7 4 .9 4 .0 3 .7 2.1 1.9 2-78 4 .4 5 .5 5 .4 5 .2 4 .7 4 .9 5 .2 5 .5 4 .8 4 .8 4 .1 5 .0 8 .3 3-78 4 .3 5 .4 5 .3 4 .9 5.1 4 .5 4 .8 5 .0 5 .2 4 .6 4 .5 3 .9 4 .5 5 .9 3 .5 4-78 4 .4 5 .4 5 .3 4 .9 5 .1 4 .6 4 .8 5 .0 5 .2 4 .7 4 .7 4 .3 4 .8 5 .8 4 .6 5> 1-79 4 .2 5 .1 5 .0 4 .7 4 .8 4 .3 4 .5 4 .6 4 .8 4 .3 4 .2 3*7 4 .1 4 .6 3 .4 3 .3 i. i 2-79 3 .9 4 .7 4 .6 4 .2 4 .3 3 .8 3*9 4 .0 4 .0 3 .5 3 .4 2.9 3 .0 3 .2 1 .9 1 .4 - 0 .6 - 2 .3 3-79 3 .8 4 .6 4 .5 4 .1 4 .2 3 .8 3 .9 3 .9 4 .0 3 .5 3 .4 2 .9 3.0 3.2 2.2 1 .9 0 .7 0*5 4-74 1-75 2-75 3-75 4-75 1-76 2-76 2PTT 3-77 4-77 1-7* 2-78 3-78 4-74 1-79 1-77 1 .3 6 1 .3 1*367.8 1*395.2 1 .4 0 7 .3 \ . 1*426.6 .. \ 1*430.6 ¡0 .7 % 1*422.3 \ 1*434.4 z - rv ffcttlAl QUARTER Ht6»ARteb~>V HfcOfeRAL RfcSEftVE 8 A W OF ST» t o u U NOVEMBER 20» 1979 12 GROSS R A T 10 S C A L E T R I L L I O N S OF 2 2 NATIONAL PRODUCT Q U A R T E R L Y T O T A L S AT ANNUAL R A T E S RATIO SCALE DOLLARS SEASONALLY ADJUSTED T R I L L I O N S OF D O L L A R S .5 . 4 . 3 . 2 2 I . 2 0 .9 . 8 .7 . 6 .5 . 4 9 . 8 .7 . 6 .5 % 1. 4 I .3 1 . 0 0.9 0 . 1971 1972 1973 1974 1975 1976 1977 1978 1979 SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED*. 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 13 GENERAL RATIO PRICE INDEX* SCALE RATIO 1972-100 SCALE 1972-100 90 I— I---- ------LJ------ LI------U ----- ------- ------U ----------- L1971 1972 1973 1974 1975 1976 1977 1978 1979 *A$ USED IN NATIONAL INCOME ACCOUNTS SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PE R IO D S LATEST DATA PLOTTED« U .S . DEPARTMENT OF COMMERCE IN D IC A T ED . 3RD QUARTER PREPARED BY FEDERAL R E SE R V E BANK OF S T . L O U IS IM P L IC IT PR IC E DEFLATOR FOR GROSS NATIONAL PRODUCT COMPOUNDED ANNUAL RATES OF CHANCE _____ TERMINAL_________ _______ ____ _______________________________________ I N I T I A L QUARTER____________________________________________________________1972 « 100 QUARTER 4 -7 4 3 -7 5 4 -7 5 1 -7 6 2 - 7 6 3 -7 6 4 - 7 6 1 -7 7 2 -7 7 4 -7 7 1 - 7 8 2 -7 8 3 -7 8 4 - 7 8 1 -7 9 2 -7 9 2 -7 5 3 -7 7 1 -7 5 1 -7 5 1 2 4 .1 6 10*6 2 -7 3 8*2 5*9 3 -7 3 7 .9 6« © 7 .3 4 -7 5 7 .5 6 .5 6 .8 1 2 5 .9 5 -------- 1 2 8 .1 9 6 .2 1 3 0 .1 4 1 3 1 .3 0 1 -7 6 6 .7 5 .8 5 .7 4 .9 3 .6 2 -7 6 6 .4 3 .5 5 .4 4*8 4 *1 4 .6 3 -7 6 6 .1 5 .4 5 .3 4 .8 4 .3 4 .7 4 .8 4 -7 6 6 .1 5 .5 5 .4 5 .1 4 .8 5 .2 5 .4 1 3 2 .7 9 1 3 4 .3 5 136*34 6 .1 138*34 1 -7 7 6 .1 5 .6 5 .5 5*2 5 .0 5 .4 5 .6 6 .0 6*0 2 -7 7 6 .3 5 .8 5 .8 5 .6 5 .5 5 .8 6 .1 6 .6 6 .8 T .7 3 -7 7 6 .1 3 .7 5 .7 5 .5 5 .4 5 .7 5 .9 6 .1 6 .2 6 .2 4 .8 4 -7 7 6 .2 5 .7 5 .6 5 .5 5*8 6 .0 6 .2 6 .2 6 .3 5 .4 4 .4 5 .B 140*93 142*59 1 4 4 .8 2 1—78 6 .2 5 .8 5 .8 5 .6 5 .4 5 .8 6 .0 6 .2 6 .2 6 .3 5 .8 6 .4 - 1 4 7 .0 5 2 -7 8 6 .5 6 .2 6 .2 6 .1 6 .1 6 .4 6 .6 6 .8 7 .0 7 .2 7 .0 7 .8 8 .5 1 5 0 .8 2 3 -7 8 6 .5 6 .2 6 .3 6 .2 6 .2 6 .4 6 .6 6 .9 7 .0 7 .2 7 .0 7 .6 8 .0 Q 8 .9 7 .2 .5 % 1 5 3 .4 5 4 -7 8 6 .7 6 .4 6 .4 6 .4 6 .4 6 .6 6 .8 7 .1 7 .2 7 .4 7 .3 7 .8 8 .2 8 .8 7 .9 8 .7 1 -7 9 6 .8 6 .6 6 .6 6 .6 6 .6 6 .9 7 .1 7 .3 7 .4 7*6 7 .6 8 .1 8 .4 9 .0 8 .4 9 .0 9 . 3 >^ \ 1 6 0 .2 2 2 -7 9 7 .0 6 .7 6 .8 6 .8 6 .B 7 .0 7 .2 7 .5 7 .6 7 .8 7 .8 8 .3 8 .6 9 .0 8 .6 9 .1 9 .3 9 .3 163*81 3 -7 9 7 .0 6 .8 6 .9 6 .8 6 .9 7 .1 7 .3 7 .5 7 .7 7 .8 7 .8 8 .2 8 .5 8 .8 8 .5 8 .8 8 .9 8 .6 4 -7 4 1 -9 * 5 -9 R * -7 * Ì.N I.9JL — z = v z ----r _ T l I.W — CTST 1 5 6 .6 8 X 4 -^ a 8 .0 | 166*99 " T -7 9 " 2 - 7 « T R im r o u s im r *A £*A A ED B Y ¿E O E R A L R E S E R V E BANK OF S T * L O U IS NOVEMBER 20» 1979 14 TERMINAL QUARTER ____ 1 V* ! 4 -7 4 1 -7 5 2 -7 5 3 -7 5 4 -7 5 PERSONAL CONSUMPTION EXPENDITURES IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANCE -----------------------------------------------------------------I N I T I A L QUARTER 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 B IL L IO N S OF _ DOLLARS ANNUAL RATES 2 -7 9 9 3 5 .7 8 .8 2 -7 5 1 0 .9 1 3 .1 3 -7 5 1 1 .5 1 2 .8 4 -7 5 1 1 .5 1 2 .4 1 2 .1 1 -7 6 1 1 .8 1 2 .6 1 2 .5 1 2 .4 1 3 .2 2 -7 6 1 1 .2 1 1 .6 1 1 .3 10*8 1 0 .5 7 .8 3 -7 6 1 1 .0 1 1 .4 1 1 .1 1 0 .7 1 0 .4 9 .1 1 0 .4 9 9 4 .0 1 2 .6 1 * 0 2 1 .6 11*6 1 ,0 5 3 . 8 1 * 0 7 3 .7 _ 1 * 1 0 0 .5 4 -7 6 1 1 .2 1 1 .5 1 1 .2 1 1 .0 1 0 .8 1 0 .0 1 1 .2 1 2 .0 1 -7 7 1 1 .4 1 1 .8 1 1 .6 1 1 .4 1 1 .4 1 0 .9 1 2 .0 1 2 .9 1 3 .8 2 -7 7 1 1 .0 1 1 .3 1 1 .1 1 0 .9 1 0 .7 1 0 .2 1 0 .9 1 1 .1 1 0 .6 7 .5 3 -7 7 1 1 .0 11*2 1 1 .0 1 0 .8 1 0 .7 1 0 .3 1 0 .8 1 0 .9 1 0 .6 9 .0 1 0 .5 I » 1 3 2 .0 1 * 1 6 9 .1 1 * 1 9 0 .5 1 * 2 2 0 .6 1 ,2 5 V .7 4 -7 7 1 1 .2 1 1 .4 1 1 .3 1 1 .1 1 1 .0 1 0 .7 1 1 .2 1 1 .4 1 1 .3 10*5 1 2 .0 1 3 .4 1 -7 8 1 1 .0 1 1 .2 1 1 .0 1 0 .9 1 0 .8 1 0 .5 1 0 .9 1 1 .0 1 0 .8 1 0 .1 1 1 .0 1 1 .2 9 .0 2 -7 8 1 1 .3 1 1 .5 1 1 .3 1 1 .2 1 1 .2 1 0 .9 1 1 .3 1 1 .5 1 1 .4 1 0 .9 1 1 .8 1 2 .3 1 1 .7 1 * 2 8 7 .2 1 * 3 3 1 .2 1 4 .4 1 * 3 6 9 .3 3 -7 8 1 1 .3 1 1 .5 1 1 .4 1 1 .3 1 1 .2 1 1 .0 1 1 .4 11*5 1 1 .5 1 1 .1 1 1 .8 1 2 .2 1 1 .8 1 3 .2 11*9 4 -7 8 1 1 .5 1 1 .7 1 1 .6 1 1 .5 1 1 .5 1 1 .3 1 1 .7 1 1 .8 1 1 .8 1 1 .5 1 2 .2 1 2 .6 12 .4 1 3 .5 1 3 .1 1 4 .2 1 -7 9 1 1 .5 1 1 .7 1 1 .6 1 1 .5 1 1 .5 1 1 .3 1 1 .7 1 1 .8 1 1 .8 1 1 .5 1 2 .1 1 2 .4 1 2 .2 1 3 .0 1 2 .5 1 2 .8 2 -7 9 1 1 .2 1 1 .3 1 1 .2 1 1 .1 1 1 .1 1 0 .9 1 1 .2 1 1 .3 1 1 .2 1 0 .9 1 1 .3 1 1 .5 1 1 .1 1 1 .6 1 0 .9 1 0 .5 8 .7 6 .1 3 -7 9 1 1 .4 1 1 .5 1 1 .4 1 1 .3 1 1 .3 1 1 .2 1 1 .5 1 1 .6 1 1 .5 1 1 .3 1 1 .7 1 1 .9 1 1 .7 1 2 .1 1 1 .6 1 1 .6 1 0 .7 1 0 .4 1 4 .8 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 « 4 -7 8 1 -7 9 2 -7 9 1 ,4 1 5 .4 1 * 4 5 4 .2 1 1 .4 1 ,4 7 5 .9 1 * 5 2 7 .7 I N I T I A L QUARTER PERSONAL CONSUMPTION EXPENDITURES IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANCE T E R M I N A L ________________________________________________ I N I T I A L QUARTER_________________________________ QUARTER 4 -7 7 1 -7 B 1 -7 7 2 -7 7 3 -7 7 2 -7 B 4 -7 4 3 -7 5 4 -7 5 1 -7 6 2 -7 6 3 -7 6 4 - 7 6 2 -7 5 1 -7 5 1 -7 5 2 .3 2 -7 5 4 .6 B IL L I O N S OF POL LARS ANNUAL RATES 3 —78 4 -7 8 1 -7 9 2 -7 9 7 7 0 .2 7 .0 7 7 9 .7 3 -7 5 4. 8 6 .0 5 .0 4 -7 5 5 .1 6 .0 5*5 6 .0 1 -7 6 5 .7 6 .6 6 .5 7 .2 8 .4 2 -7 6 5 .4 6 .0 5 .8 6 .0 6 .0 3 .6 3 -7 6 5 .3 5 .8 5 .6 5 .7 5 .6 4 .2 7 9 1 .1 8 0 7 .3 8 1 4 .5 4 .7 8 2 4 .0 4 -7 6 5 .4 5 .8 5 .7 5 .8 5 .7 4 .8 5 .4 1 -7 7 5 .5 5 .9 5 .7 5 .9 5 .8 5 .2 5 .7 6 .3 8 3 6 .4 2 -7 7 5 .1 5 .4 5 .2 5 .3 5 .2 4 .5 4 .7 4 .0 1 .8 3 -7 7 5 .1 5 .4 5 .2 5 .2 5 .1 4 .6 4 .8 4 .4 3 .4 5 .1 4 -7 7 5 .4 5 .7 5 .5 5 .6 5 .5 5 .1 5 .4 5 .3 5 .0 6 .6 8 4 9 .2 8 5 3 .1 8 6 3 .7 8 .2 8 8 0 .9 H 8 5 .0 5 .2 5 .1 5 .1 5 .0 4 .6 4 .7 4 .4 3 .9 4 .7 4 .4 0 .8 2 -7 8 5 .1 5 .3 5 .1 5 .1 5 .1 4 .7 4 .8 4 .6 4 .3 4 .9 4 .8 3 .2 5 .4 3 -7 8 5 .0 5 .2 5 .1 5 .1 5 .0 4 .7 4 .8 4 .6 4 .4 4 .9 4^ 3 .7 5 .2 4 -7 8 5 .1 5 .3 5#2 5 .2 5 .2 4 .9 5 .0 4 .9 4 .7 5 .2 5 .2 4 .5 5 .7 5 .8 6 .8 1 -7 9 4 .9 5 .0 4 .9 4 .9 4 .8 4 .5 4 .6 4 .4 4 .2 ♦f* 4 .4 3 .7 4 .4 4 .0 3 .7 0 .7 2 -7 9 4 .4 4 .4 4 .4 4 .2 3 .9 4 .0 3 .7 3 .4 3 .6 3 .4 2 .6 2 .9 2 .3 1 .4 -1 .1 -2 .9 3 -7 9 4 .5 ^♦6 4 .4 4 .4 3 .8 3 .5 3 .7 3 .5 2 .9 3 .2 2 .8 2 .3 0 .8 0 .9 4 .9 4 -7 4 1 -7 5 2 -7 5 3 -7 5 4 —* 6 1 -7 7 4 - r r _ 1 -T B 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 -7 9 4 .3 4- n 4 .0 4 .0 i —»6 2 —>6 3—76 i- t t 882 . 7 8 9 4 .8 9 0 5 .3 4 .8 9 2 0 .3 ' 9 f1 .8 ' 9 1 5 .0 9 2 5 .9 I N I T I A L QUARTER PREPARED BY FEOIRAL RESERVE BANK OF ST* LOUIS NOVEMBER 20* 1979 15 GROSS P R IV A T E DOMESTIC INVESTMENT I N CURRENT DO LLARS COHPOUNOED ANNUAL RATE S OF CHANGE TERMINAL QUARTER B IL L IO N S OF DOLLARS ANNUAL RATES I N I T I A L QUARTER 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 1 -7 5 - 4 9 .1 2 -7 5 -3 0 .7 - 5 .5 3 -7 5 - 2 .3 3 5 .4 9 4 .1 4 -7 5 -3 .1 2 0 .1 3 5 .4 -5 .5 1 -7 6 8 .7 3 1 .4 4 6 .7 2 7 .5 7 2 .0 2 -7 6 9 .7 2 8 .0 3 8 .1 2 3 .2 4 0 .7 1 5 .2 3 -7 6 9 .3 2 4 .2 3 1 .2 1 9 .0 2 8 .4 1 1 .0 7 .0 4 -7 6 9 .2 2 1 .7 2 7 .0 1 6 .6 2 3 .0 9 .9 7 .4 7 .9 1 -7 7 1 3 .6 2 5 .6 3 0 .8 2 2 .5 2 9 .0 » o M 2 1 .8 2 9 .9 5 6 .5 2 -7 7 1 5 .2 2 6 .2 3 0 .9 2 3 .7 2 9 .4 2 2 .2 2 4 .0 3 0 .3 4 3 .2 3 1 .0 2 2 .3 2 3 .7 2 8 .3 3 6 .0 2 6 .8 2 2 .6 1 9 .1 1 9 .7 2 2 .5 2 6 .4 1 7 .7 1 1 .6 3 -7 7 4 -7 7 1 -7 8 2 -7 8 3-78 4-78 1 -7 9 2 -7 9 177.7 1 7 5 ,2 2 0 6 «8 2CM. 9 3 -7 7 1 5 .9 2 5 .8 2 9 .9 2 3 .6 2 8 .4 4 -7 7 1 4 .6 2 3 .4 2 6 .8 2 0 .9 2 4 .7 233*5 241.9 246*0 250.7 280.4 300.0 315.7 316.9 1 .5 1—7B 1 4 .5 2 2 .5 2 5 .5 2 0 .1 2 3 .4 1 8 .3 1 8 .8 2 0 .9 2 3 .7 1 6 .6 1 2 .2 7 .3 1 3 .4 2 -7 8 1 5 .9 2 3 .4 2 6 .2 2 1 .4 2 4 .5 2 0 .1 2 0 .7 2 2 .8 2 5 .5 2 0 .0 1 7 .4 1 5 .7 2 3 .6 3 4 .7 3 -7 8 1 5 .1 2 2 .0 2 4 .4 1 9 .9 2 2 .5 1 8 .4 1 8 .8 2 0 .3 2 2 .2 1 7 .3 1 4 .7 1 2 .8 1 6 .9 1 8 .7 4 .5 4 -7 8 1 5 .2 2 1 .6 2 3 .9 1 9 .7 2 2 .0 1 8 .3 1 8 .6 2 0 .0 2 1 .6 1 7 .3 1 5 .1 1 3 .7 1 6 .9 1 8 .1 1 0 .6 1 7 .1 1 -7 9 1 4 .5 2 0 .4 2 2 .4 1 8 .4 2 0 .5 1 7 .0 1 7 .1 1 8 .2 1 9 .4 1 5 .5 1 3 .4 1 1 .9 1 4 .1 1 4 .3 8 .2 1 0 .1 3 .6 2 -7 9 1 5 .1 2 0 .7 2 2 .6 1 8 .9 2 0 .8 1 7 .6 1 7 .8 18*8 2 0 .0 1 6 .5 1 4 .8 1 3 .7 1 5 .9 1 6 .4 1 2 .2 1 4 .9 1 3 .9 2 5 .2 3 -7 9 1 4 .1 1 9 .3 2 1 .0 1 7 .5 1 9 .2 1 6 .1 1 6 .2 1 7 .0 1 7 .8 1 4 .5 1 2 .8 1 1 .7 1 3 .2 1 3 .2 9 .3 1 0 .5 8 .4 1 0 .9 -1 .7 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 * 2 -7 * 3 -7 * 4 —70 1 -7 9 2 -7 9 327.0 352.3 356.2 3 7 0 .5 373.8 395.4 393.7 I N I T I A I ÔUAfcTÊ* M O S S PRIVATE DOMESTIC INVESTMENT IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANCE 4 -7 4 1 -7 5 DOLLARS ANNUAL RATES IN IT IA L Q U ART» TERMINAL QUARTER 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 3 4 .6 - 6 1 .3 133.3 2 -7 5 - 3 8 .9 -3 .8 3 -7 5 - 1 3 .0 3 0 .4 7 6 .8 1 5 3 .7 4 -7 5 - 1 2 .7 1 4 .4 2 4 .8 - 1 1 .9 1 4 8 .9 1 -7 6 -0 .3 2 6 .2 3 8 .2 2 2 .2 2 -7 6 1 .2 2 2 .7 3 0 .4 1 7 .8 3 6 .2 9 .5 3 -7 6 1 .2 1 8 .8 2 3 .9 1 3 .3 2 3 .3 5 .1 0 .9 4 -7 6 1 .5 1 6 .4 2 0 .2 1 1 .3 1 8 .0 4 .6 2 .2 3.L» 1 -7 7 5 .1 1 9 .1 2 2 .8 1 5 .6 2 2 .0 1 2 .4 1 3 .4 2 0 .2 1 6 9 .9 6 9 .5 1 7 3 .8 1 7 4 .2 175.7 191.0 3 9 .7 1 9 9 .6 2 -7 7 6 .5 1 9 .1 2 2 .4 1 6 .1 2 1 .4 1 3 .8 1 4 .8 1 9 .9 2 9 .1 1 9 .3 3 -7 7 7 .2 1 8 .7 2 1 .5 1 4 .0 2 0 .4 1 4 .0 1 4 .9 1 8 .7 2 4 .2 17*1 1 5 .0 4 -7 7 6 .0 1 6 .1 1 8 .3 1 3 .2 1 4 .8 1 0 .7 1 0 .9 1 3 .0 1 5 .5 8 .5 3 .4 1 -7 0 6 .4 1 5 .8 1 7 .8 1 3 .1 1 4 .3 1 0 .9 1 1 .1 1 2 .9 1 4 .9 9 .4 6 .3 2 .2 1 2 .4 2 -7 B 7 .1 1 5 .8 1 7 .6 1 3 .3 1 4 .2 1 1 .4 1 1 .7 1 3 .3 1 5 .0 1 0 .7 8 .6 6 .6 1 4 .1 1 1 .7 1 4 .1 9 .7 9 .7 1 0 .8 1 1 .9 7 .9 5 .7 3 .5 7 .3 4 .8 —5 . 1 1 1 .3 1 3 .4 9 .4 9 .4 1 0 .3 1 1 .2 7 .7 5 .9 4 .1 7 .1 5 .4 0 .6 8 .4 9 .2 9 .9 4 .4 4 .9 3 .4 5 .4 3 .9 0 .2 3 .0 - 0 .4 5 .4 4 .1 4 .1 4 .8 2 .3 4 .8 4 .0 3 .5 2 .1 3 .5 2 .1 -0 .5 0 .7 -1 .2 i- t t ‘ 2 -tt 3 —7 7 4 -7 7 1 -7 8 2 -7 8 3 -7 B 6 .2 1 4 .2 1 5 .7 4 —7 8 6 .2 1 3 .4 1 5 .0 1 -7 9 5 .8 1 2 .7 1 3 .9 1 0 .4 1 2 .3 8 .5 2 -7 9 6 .0 1 2 .5 1 3 .6 1 0 .3 1 2 .0 8 .5 8 .5 9 .2 9 .7 4 .8 3 -7 9 5 .0 1 1 .0 1 2 .0 8 .8 1 0 .4 7 .0 4 .8 7 .3 7 .7 4 .9 4 -7 4 1 —75 2 -7 5 3 -7 5 4 -7 5 2 0 6 .7 2 0 3 .0 -7 .0 2 0 9 .0 2 1 6 .8 1 5 .8 2 1 4 .0 2 1 7 .4 4 .5 2 1 7 .2 2 2 1 .7 8 .5 - 1 .6 -1 0 .7 2 1 5 .5 Ì N t t I A L QUARTER *t*PA*tt> B Y ¿ E Ò é R A i: R E S E R V E NOVEMBRE 20» 1979 16 BANK OF S T . L O U IS GOVERNMENT PURCH ASES OF GOODS ANO S E R V IC E S IN CURRENT DO LLARS COMPOUNDED ANNUAL R ATES OF CHANGE TERMINAL QUARTER I N I T I A L QUARTER______ 4 -7 4 1 -7 5 1 -7 5 10* 9 2 -7 5 10*8 1 0 .7 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 B I L L I O N S OF O P L L ARS ANNUAL R A T E S _____ 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 -7 9 3 2 5 .8 3 3 4 .2 3 -7 5 10*5 1 0 .3 4 -7 5 1 0 .7 1 0 .7 1 -7 6 9*4 9 .0 7 .7 3 * 2 .2 1 0 .6 351 •*> 1 1 .3 4 .2 3 5 5 .1 2 -7 6 8 .2 7 .7 6. 0 3 .4 2 .7 3 -7 6 7 .9 7 .4 5 .9 4 .2 4 .2 5 .6 4 -7 6 8 *0 7 .6 6 .5 5 .3 5 .7 7 .3 9 .0 1 -7 7 8*3 8 .0 7 .2 6 .4 7 .0 8 .5 9 .9 1 0 .9 2 -7 7 8 .8 8 .5 8 .0 7 .5 8 .1 9 .5 1 0 .9 1 1 .8 1 2 .8 3 -7 7 8*8 8 .6 8 .2 7 .7 8 . 4 __ 9 ,5__ 1 0 .5 1 1 .0 1 1 .1 9 .4 4 -7 7 9 .1 9 .0 8 .7 8 .4 9 .0 1 1 .7 1 1 .1 1 2 .9 3 5 7 .5 3 6 2 .4 370 .3 1 0 .1 1 1 .0 1 1 .5 3 8 0 .0 3 9 1 .6 *0 0 .5 4 1 2 .8 1 -7 8 8*9 8 .8 8 .5 8 .2 8 .7 9 .6 1 0 .2 1 0 .5 1 0 .4 9 .6 9 .7 6 .6 2 -7 8 8 .9 8 .8 8 .5 8 .2 8 .7 9 .5 1 0 .0 1 0 .2 1 0 .0 9 .4 9 .4 7 .7 8 .8 3 -7 8 9 .2 9 .0 8 .8 8 .6 9 .0 9 .8 1 0 .3 1 0 .5 1 0 .4 1 0 .0 1 0 .1 9 .2 1 0 .5 4 1 9 .* 4 2 8 .3 4 4 0 .9 4 -7 8 9 .3 9 .2 9 .1 8 .9 9 .3 1 0 .0 1 0 .5 1 0 .7 1 0 .7 1 0 .3 1 0 .5 9 .9 1 1 .1 1 2 .3 1 2 .2 1 -7 9 9 .1 9 .0 8 .8 8 .6 9 .0 9 .6 1 0 .0 1 0 .1 10*0 9 .6 9 .7 9 .1 9 .7 1 0 .0 8 .9 5 .7 2 -7 9 8 .9 8 .8 8 .6 8 .4 i? 1 2 .3 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 .7 8*5 8 .8 9 .3 9 .6 9 .7 9 .6 9 .2 9 .2 8 .7 9 .0 9 .1 8 *3 7 .0 7 .7 9 .7 4 —7 4 1—75 3 -7 5 4—15 1 -7 6 ¿ -7 6 3—7 6 4 -? 6 i- r r 2 -7 7 3 -7 7 4 -7 7 “ 1 ^ 5 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 —79 1 -7 9 ^ B IL LIO N S OF PO LLARS ANNUAL RATES 2 —79 * 5 3 .8 * 6 0 .1 4 6 6 .6 4 7 7 .5 I N I T I A L QUARTER GOVERNMENT PURCHASES OF GOOOS AND SER VICES IN 1972 DOLLARS _____________COMPOUNDED ANNUAL RATES OF CHANGE TERM DIAL QUARTER ________________________ I N I T I A L QUARTER 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 2 5 9 .3 1 -7 5 1 .6 2 -7 5 2 .6 3 .6 3 -7 5 2 .8 3 .5 3 .4 4 -7 5 2 .9 3 .3 3 .2 2 6 1 .6 2 6 3 .8 2 .9 2 6 5 .7 2 6 4 .7 1 -7 4 2 .0 2 .1 1*6 0 .7 2 -7 6 1*2 l. l 0 .5 -0 .5 - 2 .1 - 2 .7 3 -7 6 1 ,0 0 .9 0 .3 -0 .4 —1 .5 -1 ,5 -0 .3 4 -7 6 0 .8 0 .7 0 .3 -0 .4 -1 .2 - l. l -0 .2 —1*5 2 6 2 .9 2 6 2 .7 2 6 2 .6 -0 .2 1 -7 7 1*1 1 .0 0 .6 0 .2 - 0 .4 - 0 .1 0 .8 1 .4 2 .9 2 -7 7 1*4 1 .4 1 .1 0 .8 0 .5 0 .9 1 .8 2 .5 3 ,8 4 ,8 3 -7 7 1 .7 1 .7 1 .5 1 .2 1 .0 1 .4 2 .2 2 .9 3 .9 4 .4 4 .1 2 6 4 .5 2 6 7 .6 2 7 0 .3 4 -7 7 1 .7 1 .7 1 .5 1 .3 l. l 1 ,5 2 .2 2 .7 3 .4 3 ,5 2 ,9 1 .8 1 -7 8 1 .5 1 .4 1 .3 1 .0 0 .8 1 .1 1 .7 2 .0 2 .5 2 ,3 1 .5 0 ,3 - 1 ,2 2 -7 8 1 .4 1 .4 1 .2 1 .0 0 .8 1 .1 1 .6 1 .9 2 .2 2 ,1 1 .4 0 ,5 - 0 .1 0 ,9 3 -7 8 1 .7 1 .7 1 .5 1 .4 1 .2 1 .5 2 .0 2 .3 2 .6 2 ,6 2 .1 1 ,6 1 ,6 3 ,0 5*1 4 -7 8 1 .7 1 .7 1 .5 1 .4 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 1 .5 1 .5 1 .3 1 .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 -7 9 1 .2 1 .2 1 .0 0 .9 0 .7 0 .9 1 .2 1 .3 1 .5 1 ,3 0 .9 0 .4 0 ,2 0 .5 0 ,4 -1 ,1 -2 .6 - 3 .3 3 -7 9 1 .2 1 .2 1 .0 0 .9 0 .8 0 .9 1 .2 1 .3 1 .5 1 .3 0 .9 0 .6 0 .4 0 .6 0 ,6 -0 .5 -1 .3 —1 .0 1 .3 4 -7 4 Ì-T * 2 -7 5 “ 3—74 4 -7 5 1—*6 2—7 6 "3k T6 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 0 2 -7 9 2 7 1 .5 270 . 7 _ 27 1* A _ 2 7 4 .7 2 7 6 .0 2 7 4 .7 2 7 2 .4 P R E P A R E D BY F E D E R A L R E S E R V E BANK OF S T * NOVEMBER 2 0 * 1979 17 JT k t* L O U lS D IS P O S A B L E PERSONAL INCOME IN CURRENT DOLLARS COMPOUNDED ANNUAL R ATES Of CHANGE H R m in a l QUARTER M IL L IO N S O f DOLLARS ANNUAL R ATES ^ n it ijm - q u a r t er 4-74 1 —75 1 6 ,1 30*1 2-75 3-75 4-7 5 1-76 2— 76 3-76 4-76 1-77 2-77 3-77 4-77 1-76 2-78 3-78 <»-78 1-79 2-79 1T75 2-75 I ,0 2 5 .‘ 1 ,0 9 5 .] 3-75 1 1 .2 1 5 .1 4-75 10*8 1 3 .3 1-76 1 0 .6 JL 2 .4 2-76 9 .9 1 1 .1 8 .6 8 .0 __ 1t 1 0 0 . 9 .6 T 1 ,1 2 5 .1 9 .7 L , 1 52 . Î 6*4 I ,1 7 0 .2 3-76 9 .6 1 0 .6 8 .4 8 .0 7 .2 8 .1 4-76 9 .7 10.6 8.8 8.6 8.2 9.2 10.3 1-77 9.6 10.4 8 .9 8.7 8.5 9.2 9.8 9*3 2-77 9.9 10.6 ____ 9 . 3 9.3 9.2 9.9 10.5 10*6 12*0 3-77 10.1 10.7 9.7 9.7 9.7 10.3 10.9 11*1 12*0 1 2 .1 4-77 10.2 10.9 9.9 10.0 10.0 10.6 11.1 11*3 12*0 12.0 1 2 .0 1-78 10.2 10.8 10.0 10.0 10.0 10*6 11.0 11*1 11.6 11.5 11.1 10.3 \ , 1 9 3 .] 1 ,222. t 1,250.1 1,286.0 1,323.2 1,361.2 1,395.0 2-78 10.4 10.9 10.2 10.3 10.3 10*8 11*2 11*4 11.8 11*8 11.7 11.5 12*7 3-78 10.5 11.0 10.3 10.4 10.4 10.9 11*2 11*4 11.7 11*7 11.6 11.5 12*0 4-78 10.7 11*2 10.6 10.6 10.7 11.2 11.5 11*7 12*0 12.0 12.0 12.0 12.6 12*5 13.7 1-79 10.8 11.3 10.7 10.8 10.9 11*3 11.7 11*8 12*1 12.2 12.2 12.2 12.7 12*7 13.4 13.0 2-79 10.6 11.1 10.5 10*6 10.7 11.0 11.3 11*4 11*6 11*6 11*5 11*5 11.7 11*4 11.5 10*3 7.7 3-79 10.6 11.0 10.5 10*5 10*6 10.9 11.2 11*3 11*5 11*4 11.3 11*2 11*4 11.1 11*0 10*1 8.7 9.8 4-74 1-75 3-75 4-75 1-76 2-76 3— 76 4-76 1-77 2-77 3-tt 4 - n 1-78 2-78 3-78 4-78 1-79 2-79 1,437.3 11*4 1 ,476.5 1,524.0 1 ,572.2 1,601.7 1,639.4 T fN T fT Ä L - Öü ä r T F r DISPOSABLE PERSONAL INCOME IN 1972 O OLLARS COMPOUNDED ANNUAL RATES OP CHANGE _ BILLIONS OF T E R M I N A L ____________ ___________________________________________________________ I N I T I A L Q U A R T E R __________________________________________ _________ ___________________ O O L L A R S ANNUAL RATES QUARTER 2-79 4-77 4-78 1-79 1-77 3-77 2-78 3-78 1-78 4-76 2-77 2-76 1-76 3-76 3-75 4-75 4-74 1-75 2-75 829.8 1-75 — 2*5 2-75 9*6 23*1 3-75 4*5 8*2 —4*9 4-75 4*4 6*8 -0*5 4*0 1-76 4.6 A 1.4 6*7 5*3 4*2 5.5 1*6 3.6 3*7 2-76 874.1 663.1 871*7 883.1 2*1 887.7 893.4 3-76 3*9 5.0 1.8 3*5 3*3 2*3 2*6 4-76 4*0 5.0 2*2 3*7 3*6 3.1 3*5 4.5 1-77 3.8 4.6 2*2 3*4 3*3 2.8 3*1 3.3 2*1 2-77 4.0 4*8 2*7 3*8 a*e 3*5 3*8 4.2 4*1 903.3 908.0 6*1 921.5 936.3 3-77 4*2 4*9 3*1 4*2 4*2 4*0 4*4 4.8 4*9 6*3 6*6 4-77 4*5 5*1 3*5 4*4 4*5 4*4 4*8 5*2 5.4 6.5 6*7 6*8 1-78 4*3 4.9 3*3 4*2 4.2 4*1 4.4 4*7 4*7 5*4 5*1 4*4 2*0 2-7B 4*3 3*4 4*2 4*2 4*1 4*3 4*6 4*6 5*1 4*8 4*3 3*0 4*9 4*7 4*3 3*4 4*1 4*2 4*2 4*9 5*3 6*4 4*2 4*2 4*2 2*1 6 951.8 956.6 966.1 4*0 976.2 3—78 4*3 4*8 3*5 4*2 4*2 4*1 4*3 4.5 4*5 4-78 4.4 4*9 3*7 4*4 4*4 4.3 4*5 4*7 4*8 5*2 5*0 4*7 1-79 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 2-79 3.9 4*3 3*2 3*8 3*6 3*7 3.6 3*9 3*9 4*1 3.8 3*4 2*9 3*0 2*8 2*3 0*3 — 1*4 3-79 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*6 2*3 1.8 0*3 -0*6 0*2 4 - n 1-7* Ï-1S 3-t* 4-75 1-76 "¿-?6 3-76 4-f6 1-77 2-77" 3-rr 4-77 1-78 2-78 3-78 4-78 1-79 2-79 996.6 993.0 993.5 INITIAL QUARTER P R EP A R ED BY F E D E R A L R E S E R V E BANK O f S T * NOVEMBER 20» 1979 18 L O U IS CORPORATE P R O F IT S A FT ER TAXES * COMPOUNDED ANNUAL R A T ES OF CHANCE TERMINAL BILLIONS OF OOLLARS ANNUA L RATES I N I T I A L QUARTER QUARTER 4 - 7 4 1 -7 5 2 —7 5 3 - 7 5 4 - 7 3 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 2 - 7 9 3 - 7 8 5 9 » ! 1 - 7 5 - 5 B .2 2 - 7 5 - 2 2 .8 4 2 .8 8 .4 7 4 .6 4 - 7 5 9 * 3 5 0 .5 5 4 .5 1 1 .8 1 -7 6 1 8 .6 5 4 .0 5 7 .9 3 5 .8 6 4 .9 2 -7 6 15 * 8 4 2 .0 4 1 .8 2 3 .7 3 0 .1 6 4 .6 8 0 * 3 9 1 .0 2 .7 9 1 .6 9 2 .9 3 - 7 6 1 4 . 3 3 5 .2 3 3 .7 1 9 .0 2 1 .5 4 .2 5 .8 4 —7 6 12 * 6 2 9 .7 2 7 .7 1 5 .2 1 6 .1 3 .2 3 .5 1 - 7 7 1 4 * 3 2 9 .6 2 7 .8 1 7 .3 1 8 .4 9 .0 1 1 .2 1 4 0 2 8 .3 2 - 7 7 1 4 . B 2 8 .4 2 6 .7 1 7 .6 1 8 .6 1 1 .0 1 3 .2 1 5 8 2 3 .8 9 3 .2 3 9 9 .2 1 0 3 .7 1 9 .4 1 0 7 .2 3 - 7 7 1 4 .7 2 6 .9 2 5 .2 1 7 .2 1 8 .0 1 1 .5 1 3 .4 1 5 4 2 0 .5 1 6 .8 1 4 .2 4 - 7 7 1 3 .7 2 4 .5 2 2 .8 1 5 .4 1 5 .9 1 0 .2 1 1 .5 12 7 1 5 .8 1 1 .9 8 .3 2 .6 1 -7 8 1 2 .2 2 1 .8 2 0 .0 1 3 .3 1 3 .5 8 .3 9 .1 7 1 1 .4 7 .6 3 .9 - 0 .9 - 4 .4 1 0 7 .9 1 0 6 .7 1 2 2 .4 2 -7 8 1 5 .7 2 5 .1 2 3 .7 1 7 .7 1 8 .4 1 4 .1 1 5 .6 1 7 1 1 9 .9 1 8 .3 1 B .0 1 9 .3 2 8 .7 7 3 .2 3 - 7 8 1 5 .1 2 3 .8 2 2 .4 16 * 8 1 7 .3 1 3 .4 1 4 .7 15 8 1 8 .0 1 6 .4 1 5 .8 1 6 .2 2 1 .2 3 6 .4 7 .4 4 - 7 8 1 5 .8 2 4 .0 2 2 .7 1 7 .6 1 8 .1 1 4 .6 1 5 .8 1 7 0 1 9 .1 1 7 .9 1 7 .6 1 8 .3 2 2 .6 3 3 .2 1 6 .8 2 7 .1 1 -7 9 1 6 .8 2 4 .5 2 3 .4 1 8 .6 1 9 .2 1 6 .0 1 7 .3 18 5 2 0 .6 1 9 .6 1 9 .7 2 0 .6 2 4 .6 3 3 .1 2 1 .9 2 9 .9 2 -7 9 1 5 .3 2 2 .4 2 1 .2 1 6 .7 1 7 .0 1 4 .0 1 5 .0 1 5 9 1 7 .4 1 6 .3 1 5 .9 1 6 .1 1 8 .6 2 3 .8 1 3 .8 1 6 .0 1 0 .9 - 7 . 4 3 - 7 9 1 5 .9 2 2 .6 2 1 .5 1 7 .3 1 7 .7 1 4 .9 1 5 .9 16 8 1 8 .3 1 7 .3 1 7 .1 1 7 .5 1 9 .7 2 4 * 3 1 6 .3 1 8 .7 1 6 .0 8 .5 2 7 .1 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 * P - N A T IO N A L IN C O M E 1 2 4 .6 1 3 2 .3 1 4 2 .0 3 2 .7 1 3 9 .3 1 4 7 .9 F B A S IS W E L I H I M A t Y -----------------------------M Ë fA A Ê ô èV NOVEM B » 2 0 » « « R a L A ËSÉ R V É M « ( » S T . 1 9 7 9 SOURCES OF DATA NATIONAL INCOME AND PRODUCT ACCOUNTS DATA 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 Accounts of the United States, 1929-74, A Survey of Current Business Supplement. Survey of Current Business, July 1976. Survey of Current Business, July 1977. Survey of Current Business, July 1978. Survey of Current Business, July 1979. The Survey is available from most district offices of the Department of Commerce or from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. 19 U K ttr~ I N V E N T O R I E S COMPARED W I T H M O N T H L Y MANUFACTURING AND TRADE 1965 «RATIOS 1966 1967 1968 1969 1970 1971 SHADED AREAS R E P R E S E N T P E R I O D S OF B U S I N E S S L AT E S T 1972 1973 BASED ON SEASONALLY ADJ USTED DATA. DATA P L OTT E D: SEPTE MBE R PRELI MI NARY — _ 1974 1975 SOURCE: SALES* 1976 1977 1978 1979 U . S . DEPARTMENT OF COMMERCE RECESSIONS. PREPARED BY FEDERAL RESERVE BANK OF ST L OUI S
@FedFRASER