Full text of National Economic Trends : February 1967
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R a t e s of Change in RflTIORRL E co n om ic inDICRTORS PREPARED BY FEDERAL MONTH ENDING: J a n u a ry 3 1 , 1967 RESERVE BANK OP ST. LOUIS RELEASED: February 23, 1967 G row th in sp en d in g has s lo w e d in r e c e n t m o n th s , w e a k n e s s in the p r iv a te s e c t o r b e in g o n ly p a r t ia lly o f fs e t b y co n tin u e d e x p a n s io n in G o v e r n m e n t o u tla y s . R e t a il s a le s have d e c lin e d s in c e S e p te m b e r and a r e c u r r e n t ly running at a l e v e l s lig h tly b e lo w la s t M a r c h , d e s p it e a con tin u ed m a r k e d ga in in p e r s o n a l in c o m e . B y c o m p a r is o n , r e t a il s a le s r o s e at a 9 .5 p e r c e n t r a te f r o m the s p r in g o f 1964 to the s p r in g o f 1966, and at a 4 p e r c e n t r a te f r o m 1955 to 1964. R e fle c t in g the h e s ita tio n in s a le s , in d u s t r ia l p r o d u c t io n has d e c r e a s e d s in c e O c to b e r and h as ch a n g ed lit t le s in c e A u g u s t. F r o m M a r c h la s t y e a r to A u g u s t, p r o d u c t io n r o s e at a 7 p e r c e n t r a t e , and in the p r e v io u s y e a r it w ent up 9 p e r c e n t. F r o m 1955 to 1965 in d u s tr ia l output in c r e a s e d a t an a v e r a g e 4 p e r c e n t r a t e . E m p lo y m e n t, on the o th e r hand, h as con tin u ed to r i s e at a r a te f a s t e r than the g ro w th in p o p u la tio n o f la b o r f o r c e a g e (e s tim a te d a t l e s s than a 2 p e r c e n t ann ual r a t e ). O v e r the p a s t y e a r to ta l e m p lo y m e n t has r is e n 2. 6 p e r c e n t, and p a y r o ll e m p lo y m e n t has gon e up 4 . 6 p e r pent. L a r g e ga in s have b e e n r e c o r d e d in r e c e n t m on th s b y b oth m e a s u r e s . U n e m p lo y m e n t has r e m a in e d b e lo w 4 p e r c e n t o f the la b o r f o r c e , but the a v e r a g e w o r k w e e k has b e e n g ettin g s h o r t e r s in c e S e p t e m b e r . The p la te a u in sp en d in g has a ls o r e d u c e d d e m a n d -p u ll p r e s s u r e s on p r i c e s , but a s c o n t r a c t s (in clu d in g w a g e s ) a r e r e n e g o tia te d an u pw ard c o s t - p u s h f o r c e is e x e r t e d . C o n s u m e r p r i c e s r o s e a t a 2 p e r c e n t annual r a te f r o m A u g u st to J an u ary, a ft e r g o in g up at a 3 . 7 p e r c e n t ra te fr o m the fa ll o f 1965 to the la te s u m m e r o f 1966. W h o le s a le p r i c e s have d e c lin e d m o d e r a t e ly s in c e A u g u s t, c o m p a r e d w ith a 4 . 3 p e r c e n t ra te r i s e f r o m O c to b e r 1965 to A u g u s t 1966. The r e c e n t d e c lin e c e n t e r e d in a g r ic u lt u r a l c o m m o d it ie s ; in d u s tr ia l w h o le s a le p r i c e s have r is e n a t a 1 .4 p e r ce n t r a te s in c e la s t A u g u s t c o m p a r e d w ith a 2. 8 p e r c e n t r a te o f in c r e a s e f r o m O c to b e r 1965 to A u g u s t. Bank c r e d it has r is e n m a r k e d ly (9 p e r c e n t r a te ) s in c e N o v e m b e r , and has gon e up a t a 2. 1 p e r c e n t r a te s in c e la s t A u g u s t. The r e c e n t s u r g e in ban k c r e d it has p r o b a b ly n ot b e e n the r e s u lt o f a s ig n if i ca n t stre n g th e n in g in d em a n d s f o r fu n d s, but r e f l e c t s p r im a r ily a r e in t e r m e d ia tion o f funds th rou g h ban ks a s m a r k e t in t e r e s t r a t e s have d e c lin e d to the p o in t w h e re ban ks a r e c o m p e t it iv e in s e e k in g la r g e C D ! s a t the 5 - 1 / 2 p e r c e n t c e ilin g . In flow s o f tim e d e p o s it s have b e e n s iz e a b le en ou g h that ban ks have a ls o im p r o v e d th e ir liq u id ity s o m e w h a t s in c e la s t f a ll. TOTAL C I V I L I A N EMPLOYMENT* COMPOüMDED ANNUAL RATES OF CHANGE THOUSANDS TERMINAL______________________________________________________________ I N I T I A L MONTH_____________________________________________________________QF PERSONS------MONTH 0 1 - 6 6 0 2 - 6 6 0-5-66 0 4 - 6 6 0 5 - 6 6 0 6 - 6 6 0 7 - 6 6 0 8 - 6 6 0 9 - 6 6 1 0 -6 6 1 1 -6 6 1 2 - 6 6 32-66 1 .2 ^ 3 3 -6 6 1 .2 - 04-66 . 7 35-66 .6 - 72 .341 7 2 .2 6 6 1. 1. 7 72 .5 4 2 4.7 . 1- • 7 2 j. 2 5 . 3 _ 4 .7 + 2 .6 % 72 .730 06-66 1.1 1.6 2.6 1.6 8.2 37-66 1.2 1.7 2.4 1 .7 5.0 2 .0 03-66 l.r 2 .2 2.9 2.5 5.0 3 .4 5.0 09-66 1 .6 2 .0 2 .6 2 .2 4 .0 2 .6 2.9 ' .9 10-66 1 .5 1 .8 2 .2 1.8 3 .2 2 .0 2 .0 .5 .1 11-66 2.5 2.9 .5.4 3.2 4 .6 3 .9 4.4 4 .2 5.9 12 .1 12-66 2.2 2. ó 3.0 2.8 3.9 3 .2 3 .5 3.1 3 .9 5 .8 31 -67 T T T ti 2 .9 3.3 3 .2 4 .2 3 .6 3 .9 3.7 4 .4 5 .9 7 2 .846 7 3 . 141 73 .1 9 5 7 3 . 199 73 .897 73 ,893 .1 2.9 74 .255 6.1 PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF ST. LOUIS FEBRUARY 17 , 1967 * Revision o f l a t e s t a v a i l a b l e data. PAYROLL EMPLOYMENT COMPOUNDED ANNUAL RATES OF CHANGE___________________________________________________________ THOUSANDS TERMI NAL______________________________________________________________ I N I T I A L MONTH____________________________________________________________ OF PERSONS MONTH 0 6 - 6 5 0 7 - 6 5 0 8 - 6 5 0 9 - 6 5 10 - 6 5 1 1 - 6 5 12 -6 5 0 1 - 6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6 0 5 - 6 6 0 6 - 6 6 0 7 - 6 6 0 8 - 6 6 0 9 - 6 6 10-- 6 6 1 1 - 6 6 1 2 - 6 6 07-65 4.4 60 .84 1 0 8-65 4 .0 3.6 09-65 3.7 3 .4 3.2 10-65 4. 1 4 .0 4.2 6 1.02 1 6 1 , 180 5 .2 61 .437 11-65 5.0 5. 1 5.6 6.9 8 .7 12-65 5.4 5 .6 6.1 7.1 8 .1 7 _ ^ .. 01 -66 5.3 5.4 5.8 6.5 6.9 6. Q 4 .5 6.9 6-.J5.. 5.6 6 .8 7.2 6.9 6 .6 7.7 8.6 02-66 5.5 5.6 6.0 6 .5 3 3-66 5 .8 6.0 6.3 6 .9 6 1 .864 62*241 6 2 .4 6 9 6 2 .811 63 .2 4 7 04-66 5 .4 5.5 5 .8 6.2 6.3 5 .9 5.4 5 .8 S.a.2— 2.Q 35-66 5.2 5 .3 5.5 5.8 5.9 5 .4 5.0 5 .1 4. 6 .... 2.6 3.2 36-66 5.5 5.7 5.9 6.2 6.3 5_iS... 5.7 5.9 _ &*Z- f 4 .7 — ÎL.1 07-66 5.2 5 .5 5.5 5 .7 5.8 5 .1 5 . 2 _ 4 *?_ 4 .0 ...4.6 6 3 .3 5 0 ^ +4.6% 63 .5 1 7 6 3 ,9 8 3 ?*2 5» 1 .7 ^ 64 ,0 7 2 08 -66 5.0 5. 1 5.2 5.4 5.4 5.1 ... 4 . 8 4 .8 3 ,7 4 .1 4 .4 2.1 2 .4 39-66 4.7 4 .7 4.8 4.9 4.9 4 .5 4.2 4 .1 3.7 2.9 3 .1 3 .1 1.2 .9 1 0 -6 6 4.7 4.7 4.8 5.0 4.9 4.6 4.3 4.3 . 4..Q 3.3 .. 3 . 6 .1^6 . 2 .3 2.5 _ 2 .5 5 .7 11 -6 6 4 . 8 .. 4, 9 5.0 5. 1 5.1 4 .8 4.5 4 . 5 __ ! u i . . . 3.8 4.0 4 ».2 3.2 3 .6 3.9 6 .3 12-66 31-67 4 .8 4 .9 4.9 4 .9 5.0 .. 5 .1 _ 5 . J. _ 5.1 4 .8 4 .6 4 .6 4.4 3 .9 5 .1 4 .8 4.6 JOl 4.4 4.0 4.1 4 .3 . 4 .3 4 . 4 .- J . 7 . 3.5 3.8 4.1 64 ,1 9 9 .6 - 4 .2 6 4 ,1 6 8 5 .8 ._4.*J±... _ 3 . 7 6 4 .466 ft ,9 6 4 ,8 2 3 5 4 .9 5 .7 5.1 1 6 5 . 0 8 IP 5 .3 6 5 . 3 6 0 P *• P- PRELIMINARY PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK QF ST. LOUIS FEBRUARY 14, 1967 Employment Ratio S c a le Ratio Scale Percentages are annual rates of change between months indicated. Latestdata plotted: Jan uary p relim in ary Source: U.S. Department of Labor Prepared byFederalReserveBank ofSt.Louis / INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL______________________________________________________________ I N I T I A L MONTH_____________________________________________________ MONTH 0 6 - 6 5 C 7 -6 5 0 8 - 6 5 0 9 - 6 5 1 0 - 6 5 1 1 - 6 5 1 2 -6 5 0 1 - 6 6 0 2 -6 6 0 3 - 6 6 0 4 - 6 6 0 5 - 6 6 0 6 - 6 6 0 7 - 6 6 0 6 - 6 6 0 9 - 6 6 1 0 - 6 6 1 1 - 6 6 0 7-65 7 .8 09 -65 2 .8 144.3 5. 1 .8 - 144.9 6 .4 - 144. 1 1 0-65 5 .1 3.4 ?.5 1 2 .3 11-65 6.2 5. 1 5.1 11.3 10.4 12-65 8.4 8.0 a .7 1 4 .3 1 5 .3 0 1-66 9.2 8 .9 9.7 1 4 .2 14.8 17.0 1 3.7 02-66 9.9 9 .8 10 .6 1 4 .4 14.9 16.5 1 4 .5 1 5 .3 03-66 1 0 .0 9.9 1 0 .6 1 3 .8 14.1 1 5.0 1 3 .2 1 3 .0 1 0 .7 145.5 14 6.7 2 0 .5 149. 0 1 50.6 15 2.4 1 53.7 0 4-66 9. 1 9 .C 9 .5 1 1 .9 1 1 .9 12.2 1 0 .2 9. 1 6 .1 1.6 05 -66 9.3 9 .2 9.7 1 1 .9 1 1 .8 12 .1 1 0 .5 9 .7 7 .8 6 .4 11.5 06 -66 9.4 9 .3 9 .7 1 1 .6 1 1 .6 11.7 1 0 .3 9 .7 8.3 7.5 1 0 .6 9.7 07 -66 9.1 8 .9 9 .3 11.0 1 0 .9 1 0.9 9.6 9.0 7 .7 7 .0 8.9 7 .6 5 .5 08-66 8.9 a .7 9.0 10.6 10.4 10.4 9.2 8 .6 7.5 |6 .9 | Lm J 8.2 7. 1 5.9 09-66 8 .1 7 .9 8 .1 9 .4 9 .2 9 .1 7 .9 7 .2 6 .0 5 .3 6 .0 4 .7 3 .1 1.9 2 .3 - 6 .6 5.7 4 .7 4 .4 153.9 t+ 6 .9 % 155.3 15 6.5 157.2 6.3 15 8.0 -0 .2 % 10-66 8.2 8 .0 8.2 9 .4 9 .2 9 .1 8 .0 7 .4 6.5 5.9 3.5 9.5 1 1-66 7 .5 7 .3 7.5 8 .6 8 .3 8 .1 7 .1 6.4 5 .5 4.8 5 .3 4 .3 3 .3 2.7 1 .5 3.5 2 .2 - 12-66 7 .2 7.C 7.2 8. 1 7.0 7 .7 6 .6 6.0 5.1 4 .5 4.9 4 .0 3.1 2 .6 1.7 3 .1 .0 7.1 6.8 6 .5 5 .5 4.9 3.9 3.3 3.5 2.5 1.5 .9 6 .4 100 1 2 -6 6 1C. 0 8-65 01 -67 1957-59 / 6 .2 6.3 m .4 15 7.7 158.9 2 .5 - 15 8.6 2.3 2 .6 - 1 5 8 . 9P 7 .3 - 15 7. 9P P - PRELIMINARY PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE PANK OF ST. LOUIS FEBRUARY 16 , 1967 Industrial Production Ratio Scale Ratio S c a le Percentages are annual rates of change between months in dicated. Latest data plotted: January p relim in ary Prepared by Federal Reserve Bank of St. Louis (& " TERMINAL____________________________________________ R ETAIL SALES COMPOUNDED ANNUAL RATES OF CHANGE______________________________________________________________ MILLIONS OF _______________ IN IT IA L MONTH_______________________________________________________________ DOLLARS MONTH 06-65 0 7 -6 5 08-65 07-65 19.3 08-65 7 .0 09-65 10-65 11-65 1 2 -6 5 0 1 - 6 6 02-66 03-66 04 -66 05-66 06-66 0 7 -6 6 08 -66 09 -66 10-66 11-66 12-66 23 ,6 6 8 4 . 1- 2 3 ,5 8 5 09 -65 7.6 2 .2 8.9 10-65 1 3 .5 11.7 20 .5 33 .4 11-65 1 4 .2 12.9 1 9 .3 2 4 .8 1 6 .8 19 .1 1 2 .6 8 .6 23 * 753 2 4 . 33 0 2 4 , 64 7 12-65 1 3 .2 12 .0 1 6 .5 01-66 1 2 .8 11 .8 15.3 1-6. 9 1 1 .9 9 .5 1 0 .5 02-66 1 1 .3 10 .2 1 2 .8 13.6 9 .1 6 .7 5.8 1 .3 03-66 12.9 12 . 1 1 4 .6 1 5 .6 1 2 .3 11.2 12.1 12.9 0*1-66 8 .4 7 .3 8.8 8.8 5.2 3 .0 1 .6 1 .2 - 05 -66 5.4 4. 1 5 .1 4 .6 1 .0 1 .4 - 3 .3 - 6 .4 - 06-66 8.9 8 .0 9.3 9 .3 6.6 5.3 4.7 3.6 4.2 24 ,8 1 6 25 * 0 2 3 25 * 0 * 9 26 .0 \ 25» 53 6 2 .4 - 2 4 .4 - 2 4 ,9 4 9 8 .9 - 2 2 .5 - 2 0 .6 2 .2 - 11.2 2 4 ,4 7 5 55 .6 25*394 -1 0 % 07 -66 8 .1 7.2 8.3 8.2 5 .7 4 .4 3 .8 2.7 3.0 2 .0 - 6.8 23 .8 08 -66 8.2 7 .4 8 .4 8.4 6.2 5.0 4.6 3 .8 4 .2 .3 7 .7 19.2 4 .3 10 .4 09 -66 8.1 7 .3 8.3 8.2 6.2 5.2 4 .8 4 .1 4.5 1.3 7.4 1 5 .8 5.0 8 .3 25*362 25*572 6 .3 25*703 10-66 7.1 6 .3 7.1 7 .0 5 .0 4 .0 3 .6 2.8 3.0 .1 4 .9 1 0 .9 1 .9 3 .0 .5 - 6 .9 - 11-66 6 .8 6 .1 6.8 6 .7 4 .9 3 .9 3 .5 2.8 3 .0 .4 4 .6 9.5 2.1 3 .0 .6 2 .1 - 2 .9 12-66 5.7 4 .9 5.5 5.3 3.5 2 .6 2 .1 1 .3 1 .3 1 .1 - 2.3 6. 1 .5 - .3 - 2 .8 - 5 .7 - 5 .1 - 1 2 .4 - 01-67 5.3 4 .6 5.1 4.9 3.2 2.3 1 .9 1 .2 1 .2 2 .0 5.2 .5 - .4 - 2 .4 - 4 .5 - 3 .6 - 6 .7 - 25 ,5 5 0 25*610 25 * 329P .7 - 2 5 , 3 1 5P P - PRELIMINARY____________________________________________________________________________________________________________________________________________________ PREPARED BY RESEARCH DEPARTMENT ________________________________________________ ______________ _________ __________________________________________________ FEDERAL RE SERVE BANK OF S T . LOUIS FEBRUARY 13, 1967 PERSONAL INCOME ■CQMPO.J NDED ANNUAL RATES OF CHANGE IN IT IA L TERMINAL MOMTH 06-65 07-65 00-65 09-65 10-65 11-65 1 2 -6 5 € 1 - 6 6 02-66 MONTH ... 03-66 04 -66 05-66 06-66 37 -66 08-66 09-66 1 0 -6 6 11-66 BILLIONS OF DOLLARS ANNUAL RATES 12- ■66 53 5 . 4 07-65 7 .5 08 -65 6.5 5 .5 39-65 1 6 .2 23 .8 10-65 8.7 ?. 1 1 1.0 11-65 9.7 10.3 1 2 .0 .8 1 4 .0 1 2 .7 11.4 5 3 7.8 55 2.5 38.2 1 0 .9- 5 4 7.2 5 5 3.2 12-65 1 0 .0 1 0 .5 11 .8 4.2 55 8.2 31-66 9.2 9.5 1 0 .3 4.2 9 .8 7 .8 4 .4 32-66 9.3 9 .6 1 0 .3 5.4 9 .9 8.6 7 .2 10.1 56 0.2 5 6 4.7 33-66 9 .3 9.6 10*2 6 .1 9.8 8,8 8.0 9.8 9.5 0 4-66 8.7 8 .8 9.3 5.7 8.7 7.7 6.3 7.6 6.3 3 .2 .. 35-66 8 .4 8.5 8 .3 5 .6 8.2 7.3 6.5 7.0 6.0 4.3 36-66 8.5 8.6 8.9 6.0 8.3 7.6 6.9 7 . '4 _ 6.3 5 .9 7 .3 9.2 7.6 6 .0 56 9.0 5 7 0.5 5.4 5 7 3.0 5 7 7.2 37-66 8.3 8.3 8 .6 6 .0 8 .1 7.4 6 .8 7.2 6.6 5.9 6.3 38-66 8.5 8 .6 8.9 6.5 8.4 7 .8 7 .4 7.3 7.5 7 .1 8.0 8 .9 8 .3 1 1 .8 3 9-66 8 .6 3.7 8.9 6 .8 8.6 8 .0 7.7 8. 1 7.3 7.5 8 .4 9 .2 9.2 1 0 .3 9.9 1 0-66 8 .7 3 .7 9.0 7 .0 8 .6 8.2 7 .8 8.2 3 .3 7. S 8.6 9.2 9 .2 1 0 .3 9.6 9.3 7 .9 8 .6 9 .1 5 8 0.0 58 5 . 4 59 0.0 5 9 4.4 11-66 8 .6 B .7 8.9 7. 1 8.6 8.2 .7 * 9_ 3 . l__ 3.1 9 .1 9 .9 9 .3 9.0 8.6 12-66 8 .5 8.6 8 .3 7 .1 8.5 8.1 7.8 8. 1 7.9 7 .3 8.3 8 .8 8 .7 9 .3 8.6 8.2 7.7 6.8 31-67 8 .7 3.8 9.0 7.3 8.7 3 .3 8. 1 8 .4 3.2 8 .1 8.7 9 .1 9 .1 9 .6 9 .2 9 .0 3.9 9 .1 P - PRELIMINARY 5 9 8.5 60 1.8 11,.3 6 0 7 .2 P PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF ST. LOUIS FEBRUARY 1 7 , 1967 Ratio Scale Retail Sales Ratio Scale Percentages are annual rates of change between months indicated. Latest data plotted: January prelim inary Source: U.S. Departm ent of Commerce Prepared by Federal Reserve Bank of St. Louis CONSUMER PRICE INDEX * COMPOJNDED ANNUAL RATES OF CHANGE TERMINAL MONTH 06-65 07-65 19 5 7 -5 9 / I N I T I A L MONTH 07 -65 08-65 09-65 10-65 1 1- 6 5 1 2 -6 5 0 1 - 6 6 02-66 03 -66 04-66 05-66 06-66 07-66 08-66 09-66 10 - 6 6 11-66 100 12-66 110.2 1.1 1 1 0 .0 08 -65 »6- 09-65 .4 .0 2 .2 10-65 .8 .7 2.2 2.2 11-65 I. 1 1 .1 2 .2 2.2 2 .2 12-65 1.6 1.8 2.8 2.9 3 .3 4 .4 01-66 1.4 1.5 2 .2 2.2 2.2 2.2 .0 02-66 2 .1 2.2 2.9 3 .1 3.3 3.7 3.3 6.7 03-66 2 .3 2.5 3.1 3 .3 3.5 3.8 3.7 5 .5 04 -66 2 .6 2 .8 3.4 3.6 3.8 4.2 4 .1 5.5 4.9 5 . 5 \ 112.5 05-66 2 .5 2 .6 3.2 3.3 3 .4 3.7 3 .5 4.4 3.6 3.3 1 .1 ^ ^ 112.6 06-66 2 .5 2.7 3.2 3 .3 3 .4 3.6 3.5 4 .2 3.5 3.3 2 .2 3.2 11 2.9 3.7 3 .5 2.9 3.8 4.4 5 .4 2 .2 - 1 10.2 1 10.4 11 0.6 11 1 . 0 11 1 . 0 \ + 3 .7 % 111.6 1 12.0 11 3.3 07-66 2 .7 2 .8 3.3 3.4 3.5 3 .7 3.6 4 .2 08-66 2 .? 3 .0 3.5 3.6 I 3 . 7I 3.9 3.8 4.4 4.0 3.9 3.5 4.3 4t9 09-66 2 .9 3 .0 3.4 3.5 3.7 3 .8 3.7 4 .2 3.9 3 .8 3.5 4.1 4 .3 4 .3 I 113.8 ' + 7 .9 % 3 .2 10-66 3.0 3. 1 3.5 3.6 3.7 3.9 3.8 4 .2 3 .9 3 .9 3.6 4.1 4.3 4.3 3 .8 4 .3 11-66 2.9 3 .0 3 .3 3.4 3 .5 3.6 3.5 3.9 3 .6 3 .5 3.2 3 .6 3.7 3 .5 2 .8 2 .7 1 .0 12-66 2 .8 2 .9 3.2 3.3 3.3 3.4 3 .3 3 .6 3 .3 3.2 3.0 3.2 3.2 3.0 2 .4 2 .1 1. 0 1. 1 01-67 2 .6 2 .7 3.0 3. 1 3. 1 3.2 3 .1 3 .3 3.0 2 .9 2.6 2.8 2 .8 2.5 1.6 .7 .5 * Im I 11 4. 1 1 1 4.5 11 4.6 .0 1 114.7 * 11 4.7 NOT SEASONALLY ADJUSTED PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF ST. LOUIS FEBRUARY 2 1 , 1967 WHOLESALE PRICES, ALL COMMODITIES * COMPOUNDER ANNUAL RAiFS OF CHANGE I N I T I A L MONTH TERMINAL MONTH Q6t 65 Û7.-65 Q.Sr65 Û.9.-65 - .l û -6 5 _ ...11-6.5... 12-65... 0 1 - 6 6 0 7 -6 5 1957-59 0 2 - 6 6 Û 3-6 6 QJir66 Q5-r66 0 6 - 6 6 Û7-ÔÛ QQ-6.Ó Û9-.ÛÛ 10-166 11-66 1±2 / io n 12-66 102 .9 .aa-&5_ 102.9 09-65 Ì Q3.Q NOT SEASONALLY ADJUSTED P - PRELIMINARY .PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF S T . LOUIS FFRRtlARV R- 10A7 Ratio Scale 1957-59=100 Prices Ratio Scale 1957-59=100 Percentages are annual rates of change between months indicated. Latest d a ta plotted :; January prelim inary Source*. U.S. Department of Labor Prepared byFederalReserveBankofSt.Louis TOTAL BANK CREDIT ALL COMMERCIAL BANKS 1 / COMPOUNDED ANNUAL RATES OF CH A N G E _________________________________________________ MILLIONS ÜF TERMINAL____________________ __________________________________________ I N I T I A L MONTH_______________________________________________________________ DOLLARS MONTH 1 0 -6 5 1 1 -6 5 12 -6 5 0 1 -6 6 02-66 03-66 05-66 06-66 07-66 0 7-65 8 .5 08-65 9.0 9 .6 09-65 8.1 7 .9 6.3 1 0-65 8 .2 8. 1 7.4 8 .5 11-65 8 .9 8 .9 8 .7 1 0 .0 12-65 9 .0 9. 1 9.0 10 .0 1 0 .7 9.9 0 1 O' O' 09-65 •o •o 1 07-65 _______ ° 06-65 0 OD 1 o __________________ ____________________________ 9.6 9 .8 9 .8 1 0 .7 1 1.4 1 1 .4 1 2 .8 02 -66 9 .2 9 .3 9 .2 9 .8 10.1 9 .7 9.5 6.3 03-66 8.8 8 .8 8 .7 9.1 9 .3 8 .7 8.3 6.2 6.0 04-66 9. 1 9. 1 9.1 9 .5 9.6 9 .3 9 .1 7.9 8 .7 1 1.4 05 -66 9.1 9 .2 9 .1 9 .5 9.6 9.3 9 .2 8.3 8.9 1 0 .4 9 .4 06-66 9 .4 9 .4 9 .4 9.8 9.9 9 .7 9.7 9. 1 9.8 11.1 1 0 .9 0 7-66 9.5 9 .6 9.6 1 0 .0 10. 1 1 0 .0 1 0 .0 9 .5 10.1 1 1 .2 11 .1 12 .0 1 1 .6 0 8-66 9. 3 9 .4 9.3 9 .6 9 .7 9 .5 9.5 9.0 9.5 1 0 .2 9 .8 1 0 .0 8 .8 6.2 09-66 8 .6 8.6 8 .5 8.7 8.7 8.4 8.2 7. 7 7.9 8.2 7.6 5.4 2 .5 08-66 09-66 1 0 -6 6 11-66 12-66 281,45 0 2 8 3,60 0 28 5 ,0 5 0 28 7,00 0 1 1 .4 2 8 9 ,6 0 0 29 1,90 0 29 4,85 0 29 6,35 0 2 9 7 , 80C 30 0,50 0 3 0 2,750 1 2 .4 7. 1 30 5 ,7 0 0 3 0 8 , 50C 310,05 0 rv 3 0 9 , 75 C 10-66 7 .6 7 .6 7.5 7.5 7 .5 7. 1 6.8 6.2 6.2 6 .2 5.3 4 .5 2.7 .1 - 11-66 7 .2 7. 1 6.9 7.0 6 .8 6 .5 6.2 5.5 5 .4 5 .3 4.5 3 .7 2.1 .2 - 2 .2 - 2 .8 - 12-66 7. 1 7 .0 6.8 6.9 6 .7 6.4 6.1 5.5 5.4 5 .3 4.6 3.9 2 .6 .9 .4 - .1 - 01-67 7 .3 7 .3 7.1 7 .2 7 .1 6.8 6.6 6. 1 6.0 6.0 5 .5 5.0 4.0 2.7 IT T I 3 .2 - 1 / Data used are averages o f end o f pr ecedin g and c u r re n t month. 5 . 1- 2 .9 -^ + 2 .7 % 3 0 8 ,4 0 0 .4 - 30 8, 30 0 2 .5 5 .4 5 .7 8 .9 309,650 1 2 .5 31 2,70 0 PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF ST. LOUIS FEBRUARY 16 , 1967 TOTAL LOANS ALL COMMERCIAL BANKS y C0MP0UNDE0 ANNUAL RATES OF CHANGE IN IT IA L TERMINAL MONTH 06-65 0 7 -6 5 0 8 -65 09-65 10-65 1 1 -6 5 1 2 -6 5 0 1 - 6 6 02-66 MILLIONS OF DOLLARS MONTH 0 3 -6 6 04-66 05-66 06-66 09-66 1 0 -6 6 11-66 12--66 181,150 07-65 1 2 .4 08 -65 1 2 .9 09-65 1 2 .4 12.4 11 . 4 10-65 1 2 .2 12 . 1 1 1 .5 1 1 .6 1 1-65 1 2 .0 12.0 1 1 .5 1 1 .6 11 .5 1 2-65 1 1 .9 1 1 .9 1 1 .5 1 1 .5 1 1 .5 11 .4 01 -66 1 2 .5 12.5 1 2 .4 1 2 .6 1 2 .9 1 3 .6 15 .9 02 -66 1 2 .7 1 2 .7 1 2 .6 1 2 .9 1 3 .2 13.7 1 4 .9 183,050 13 .3 1 8 4 , 70C 186,400 1 8 8,100 18 9,800 192, 15 C 1 3 .9 19 4,250 1 2 .8 12 .8 1 2 .7 1 3 .0 1 3 .2 13.7 14 .4 1 3 .7 13 .4 04-66 13 .0 13 . 1 1 3 .0 1 3 .3 1 3 .5 1 3 .9 1 4 .6 14. 1 1 4 .2 1 5 .0 35-66 1 2 .9 12 .9 1 2 .9 13. 1 1 3 .3 1 3.6 1 4 .0 1 3 .5 1 3 .4 1 3 .4 1 1 .8 06-66 1 3 .2 13.3 1 3 .3 13 .5 1 3 .7 14 .1 14 .5 1 4 .2 1 4 .3 1 4 .6 14.4 17.1 1 5 .9 1 6 .2 1 8 .5 1 9 .9 03-66 07-66 08-66 196, 300 198,60 0 20 0,45 0 2 0 3 , 100 0 7-66 1 3 .7 13.8 1 3 .9 14. 1 1 4 .4 14.8 1 5 .3 15 .2 1 5 .4 0 8-66 1 3 .3 13.4 13 .4 1 3 .5 13.7 1 4 .0 14 .3 14.1 14.1 1 4 .3 14.1 1 4 .8 1 3 .7 7.8 09-66 1 2 .3 1 2 .3 1 2 .2 1 2 .3 1 2 .3 12.4 12 .5 12. 1 1 1 .8 1 1 .6 10.9 1 0 .7 8.6 3 .4 10-66 1 1 .6 Ï 1 .6 1 Î.4 11 .4 1 1 .4 1 1 .4 1 1 .4 1 0 .9 10 .6 1 0 .2 9 .4 8 .9 7.0 2.9 .6 1 0 .2 9 .8 9 .3 8.5 8 .0 6 .3 3.1 1 .6 2 .8 3.5 206,20 0 _ 2 0 7 , 500 .9 - 2 0 7 , 350 2 0 7,70 0 20 8,30 0 11-66 11.1 11.0 1 0 .9 1 0 .9 1 0 .8 10.7 1 0 .7 12-66 1 0 .6 10.5 1 0 .4 1 0 .3 1 0 .2 10 .1 1 0 .0 9.5 9.0 8.6 7 .6 7.2 5.6 3.0 1 .8 2 .7 3 .1 2.6 01-67 1 0 .7 10.6 1 0 .5 1 0 .4 1 0 .3 1 0 .2 10 .2 9.7 9.3 8.9 8.2 7.8 6.5 4 .5 fr.si 5.0 6 .0 7 .3 1 / Data used are averages o f end o f pre ceding and cu r re n t month. 2 0 8 , 750 12 .1 210,75 0 PREPARED BY RESEARCH DEPARTMENT FEDERAL RESERVE BANK OF ST. LOUIS FEBRUARY 16 , 1967 f f Bank Credit 1959 1960 1961 1962 1963 1964 1965 1966 1967 Percentages are annual rates of change between months indicated. Latest data plotted: January Prepared by Federal Reserve Bank of St. Louis / SL —
@FedFRASER