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n n n o n n L E c o n o mitcr e a d s
PREPARED ft¥»£EDERAL RESERVE BANK OF ST. LOUIS

Month E n d in g :

August 3 1 , 1981

R e le a s e d :

September 3 0 , 1981

The Economic Recovery Tax ^ ^ # ¿ ^ 1 , w hich was sig n e d i n t o law t h i s p a s t August,
i s e x p e c te d t o a f f e c t g r e a t l y t h e f u t u r e c o 0 r H * » o f economic a c t i v i t y .
Though t h e a c t
c o n t a i n s many p r o v i s i o n s , i t c o n s is t s m a in ly o f t a x r a t e r e d u c t io n s f o r i n d i v i d u a l s and
l i b e r a l i z e d p r o v i s i o n s f o r r e c o v e r y o f t h e c o s t o f c a p i t a l by b u s in e s s e s .
A g r e a t d ea l o f f e d e r a l t a x l e g i s l a t i o n o v e r t h e l a s t 20 y e a r s i n v o l v e d t a x c u ts on
i n d i v i d u a l and c o r p o r a t e incom e, y e t t o t a l governm ent r e c e i p t s in c r e a s e d from 2 7 . 5 p e r c e n t
o f GNP in 1960 t o 3 1 . 9 p e r c e n t i n 1 9 8 0 . Comparing r e c e i p t s as a p e r c e n t o f GNP f o r
d i f f e r e n t y e a r s i n d i c a t e s w h e th e r r e c e i p t s a r e grow in g f a s t e r o r s lo w e r th a n nominal GNP.
S t a t e and l o c a l r e c e i p t s ro s e s h a r p ly r e l a t i v e t o GNP from 1960 t o 1 9 7 0 , b u t a lm o s t a l l o f
t h e r e l a t i v e i n c r e a s e i n t o t a l r e c e i p t s from 1970 t o 1980 was due t o r a p i d g ro w th i n f e d e r a l
r e v e n u e s . The r i s e i n f e d e r a l r e c e i p t s r e l a t i v e t o GNP o v e r t h e l a s t 10 y e a r s was
a t t r i b u t a b l e t o r a p i d i n c r e a s e s i n p e rs o n a l t a x e s ( m a in ly i n d i v i d u a l income t a x e s ) and
s o c ia l in s u r a n c e c o n t r i b u t i o n s , w hich more th a n o f f s e t t h e r e l a t i v e l y slow grow th in
c o r p o r a t e and i n d i r e c t t a x e s . Recent t r e n d s i n d i c a t e t h a t i n t h e absence o f a change i n t a x
l e g i s l a t i o n , f e d e r a l r e c e i p t s would have r i s e n t o ove r 23 p e r c e n t o f GNP by 1 9 8 4 ; t h e ta x
c u t o f 1981 i s e x p e c te d t o reduc e t h i s f i g u r e t o a bo ut 1 9 . 5 p e r c e n t .
GOVERNMENT RECEIPTS
N a t io n a l Income Accounts B a s is
1980
" H 'lllo n s
P ercen t
o f d o l l a r s o f GNP

1970
' i m r o h s " ' P e rc e n t
of d o lla rs
o f GNP

1960
" B T T IT o h s " Perceni
o f d o l l a r s o f GNP

P e rs o n a l t a x & non tax r e c e i p t s
Federal
S ta te & lo c a l

$ 3 3 8 .5
2 5 7 .8
8 0 .7

C o r p o r a te p r o f i t s t a x a c c r u a ls
Federal
S ta te & lo c a l

8 2 .3
7 0 .2
1 2 .2

3 .1
2 .7
0 .5

3 4 .1
3 0 .6
3 .5

3 .4
3.1
0 .4

2 2 .6
2 1 .4
1 .2

4 .5
4 .2
0 .2

I n d i r e c t b u s in e s s t a x e s &
n o n ta x a c c r u a ls
Federal
S ta te & lo c a l

2 1 2 .3
4 0 .6
1 7 1 .6

8 .1
1 .5
6 .5

9 4 .3
1 9 .3
7 5 .0

9 .5
1 .9
7 .6

4 5 .4
1 3 .4
3 2 .0

9 .0
2 .6
6 .3

C o n t r i b u t i o n s f o r s o c ia l
in s u r a n c e
Federal
S ta te & lo c a l

2 0 3 .7
1 7 2 .2
3 1 .5

7 .8
6 .6
1 .2

5 8 .5
4 9 .3
9 .2

5 .9
5 .0
0 .9

2 1 .0
1 7 .6
3 .4

4 .1
3 .5
0 .7

T otal re c e ip ts
Federal
S tate & lo c a l*

8 3 6 .8
5 4 0 .8
2 9 6 .0

3 1 .9
2 0 .6
1 1 .3

3 0 2 .9
1 9 1 .9
1 1 1 .0

3 0 .5
1 9 .3
11.2

1 3 9 .5
9 6 .1
4 3 .4

2 7 .5
1 9 .0
8 .6

* E x c lu d e s f e d e r a l g r a n t s - i n - a i d



12.9%
9 .8
3 .1

$ 1 1 5 .8
9 2 .6
2 3 .2

11.7%
9 .3
2 .3

$ 5 0 .3
4 3 .6
6 .7

9.9%
8 .6
1 .3

T O T A L C I V I L I A N EMPLOYMENT
COMPOUNOED ANNUAL R AT ES OF CHANGE
TERMIN AL________________________________________________________________________ I N I T I A L MONTH________________________________________________________________________
THOUSANDS
OF PERSONS
MDNTH
6 -6 1
7 -8 1
5 -8 1
1-81
2 -8 1
3 -81
4 -8 1
6 -6 0
8 -8 0
9 -8 0 1 0-8 0 1 1 -8 0 1 2-80
4 -8 0
5 —60
7 -8 0
3 -8 0
1 -80
2 -8 0
2 -8 0

97 » 8 1 7

1 .3

3 -80

-0 .5

-2 .3

97*62 8
9 7 ,2 25

4 -8 0

-2 .0

-3 .6

-4 .8

5 -8 0

-1 .8

-2 .8

-3 .1

6 -8 0

-2 .3

-3 .1

-3 .4

-2 .7

-4 .1
-0 .7

2 .7

-0 .5

1.4

97,116

-1 .3

7 -8 0

-1 .4

-2 .0

—1.9

-0 .9

8 -8 0

-1 .2

-1 .7

-1 .5

-0 .7

9 6,7 80
96,9 *9
97,0 03

0 .0

97,1 80

9 -8 0

-0 .8

-l .l

-0 .9

—0 . 1

0 .2

1.7

l.l

2*2

10— 80

-0 .7

-0 .9

-0 .7

-0 .0

0.2

1.3

0 .9

1*3

0*3

1 1 -8 0

-0 .5

-0 .7

-0 .4

0 .2

0 .5

1.4

1.1

1 .4

1*0

1 .7

1 2 -8 0

-0 .5

-0 .7

-0 .5

0 .1

0 .3

1.0

0*7

0 .9

0 .4

0 .5

-0 .7

1-81

-0 .0

-0 .1

0 .1

0 .6

0.9

1*6

1*4

1 .7

1 .6

2*0

2 .2

5 .2

2*2

2 .4

4 .0

2.9

2 -81

0 .2

0 .1

0 .3

0 .9

1.1

1*8

1*6

1.9

1 .9

97,2 06
9 7,3 39
9 7,2 82
9 7,6 96
9 7,9 27
98,4 12

0 ,6

0 .6

0*8

1*3

1*6

2*3

2*2

2 .5

2 .6

3 .0

3 .3

4 .7

4 .5

6 .1

1*0

1.0

1 .3

1 .8

2 .1

2 .7

2*7

3 .1

3 .2

3*7

4 .1

5 .3

5.3

6 .6

7 .1

5 -81

1 .2

1.2

1 .4

1*9

2*2

2 .8

2 .8

3*1

3 .2

3*6

3 .9

4 .9

4 .8

5 .5

5 .1

9 8,9 76
9 9,2 35

3 .2

0 .5

0 .4

0 .6

1 .0

1 .2

1*7

1*6

1*7

1 .7

1*8

1 .9

2 .3

1*7

1 .4

-0 .1

-3 .5

-9 .7

7 -81

0 .9

0 .8

1 .0

1 .4

1*6

2*1

2*0

2*2

2*2

2*4

2*5

3*0

2*6

2*6

1*7

—o . i

-1 .6

7 .2

8 -81

0 .8

0 .9

1*3

1*5

1*9

1*8

Z* o

2*0

2*1

2 .2

2 .6

2 .2

2 .1

1*3

-0 .1

-1 .2

3 .4

-0 .2

2 -8 0

3 -8 0

4 -8 0

5-80

6 -8 0

7 -8 0

8 -8 0

9 -8 0

1 0-80

1 1 -8 0

1 2-80

1 -8 1

2 -8 1

3 -81

4 -8 1

5 -81

6 -8 1

7-81

3 -81

4 -8 1

5-81

6 -8 1

o

6 -81

CD

3 -81
4 —81

1 -80

IN ITIA L

98,3 92
9 8,9 62
98,9 44

MONTH

PAYROLL EMPLOYMENT
COMPOUNOED ANNUAL R AT ES OF CHANGE
_______________ ___________________________________________________ I N I T I A L

TER MINA L
MONTH

3-80

4 -8 0

5—80

6 -80

7 -80

»
©

2 -80

8 -80

9 -8 0

MONTH_________________________
0

2 -8 0

1

1 -80

U -e o

1 2-80

1 -81

2-81

90,865
0*1

0 .6

-0 .3

-0 * 7

5 -80

-0 .8

-1 * 8

-2 * 8

-4 .8

6 -80

-1 * 6

-2 .5

-3 * 4

-4 .7

-4*7

7 -8 0

-1 .6

-2 .4

-3 .0

-3 .7

-3 *2

-1 .7

8 -8 0

-0 .9

-1 .4

-1 * 7

-2 .0

-1 .0

0*9

3*5

9 -8 0

-0 *4

-0 .8

-0 .9

-0 .9

0 .0

1*7

3*4

3.3

1 0 -8 0

-0 .0

-0 .3

-0 .4

-0 .3

0 .6

1*9

3 .2

3 .0

1 1 -8 0

0 .2

-0 .0

-0 .0

0 .1

0.9

2 .0

3 .0

2.8

2*6

2 .4

1 2 -8 0

0 .3

0 .1

0 .1

0 .2

1*0

1.9

2 .7

2 .4

2 .2

1*9

1 .4

1-81

0*4

0 *3

0* 3

0 *4

1*1

1.9

2.5

2*3

2*1

1*9

1 .6

1*9

2-81

0 .6

0 .4

0*5

0*6

1.2

2*0

2 .5

2*3

2 .1

2*0

1 .8

2*1

2*2

3-81

0 .6

0 .5

0*5

0 .6

1 .2

1*9

2 .3

2.2

2 .0

1*8

1 .7

1 *8

1 .7

1*2

. ^ -9 1
.

0*7

0*6

0*6

0*7

1*2

1.8

2 .2

2 .1

1 .9

1*8

1 .6

1*7

1 .6

1*3

1.5

5-81

0*7

0 .6

0*7

0*8

1.8

1*7

1 .6

1*6

1 .6

1*3

1.4

6-8-1

_Qs7

0 .6

0 .7

0 .8

7-81

0 .9

0 .9

0*9

1*0

. 8-81

0*9

0 .9

0*9

1*0

1 -8 0

2 -8 0

3-80

9 0,871

O

p
.

90,8 17

\
CD

w

1*2

4 -8 0

.

_________________ THOU SAN OS
OF PERSONS
7 -8 1

90 ,4 4 6
9 0 ,0 87
8 9,960
90,2 19

2 .0

9 0,4 61
2*8

90,668

90,9 49
9 1,0 91
91,258
9 1,3 47
91 ,4 5 8
1*4

91,5 64

1 .8

2* 1

1*2

1*7

2*0

1 .9

1.7

1*6

1 .5

1 .5

1 .4

1.2

1 .2

1*0

0 .7

1*4

1*9

2*2

2*1

2*0

1*9

1*9

1*9

1 .9

1.9

2 .0

2*2

2*7

4 .7

1*4

1*8

2.1

2.0

1.9

1*8

1*7

1 .8

1*8

1 .7

1 .8

1*9

2*0

2 .7

5-80

6 -8 0

7-80

8 -80

9 -80

1 0-80

1 1-8 0

12-80

1 -81

2 -81

3 -61

4 -8 1

5-81

6 -61

1*2

IN ITIA L
P-

9 0 ,8 44

9 1,6 15
9 1 ,9 6 6 P
0 .8

9 2 ,0 2 7 P

7 -8 1

MONTH

PRELIMINARY




PREPARED BY F ED ER A L RESERVE BANK O F S T . LO U IS
S E PTEMBER 4 , 1981

2

EMPLOYMENT
RATIO

SCALE

MILLIONS

OF

1973

RATIO
PERSONS

1974

SEASONALLY

1975

1976

ADJUSTED

1977

M I LLIONS

1978

1979
SOURCEs

PERCENTAGES

ARE AN NUAL R A TE S OF CH ANGE FOR P E RI OD S

L A TE ST DATA P LO TT ED s AU6UST

1980

PERSONS

1981

U.S.DEPARTMENT

OF LABOR

INDICATED.

PR EL IM IN AR Y
PREP AR ED

UNEMPLOYMENT
SEASONALLY

PERCENT

OF

SCALE

BY FED ER AL

RES ER VE BANK OF ST.

LOUIS

RATE

ADJUSTED

PERCENT
11. 0

10.

10.0

9.

9.0

8.0

7.

7.0

6.

6.0

5.

5.0

4 .

4.0

3.




3.0
1973

1974

1975

1976

1977

1978

1979
SOURCE:

PE RC EN T
LA TE ST

OF C I V I L I A N LABOR

U.S.

1980

1981

DE P A R T M E N T

OF LABOR

FORCE

DATA P LO TT ED t AU 6UST
PREPARED

3

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

CCWSWER PRICE INDEX FOR ALL URBAN CONSUMERS, SEASONALLY ADJUSTED
______________
COMPOUNDED ANNUAL RATES OF CHANCE
TERMINAI
MONTH

IN ITIA L

2—80

3 -6 0

2 -80

1-80

4 -6 0

5 -60

6 -8 0

7 -6 0

8 -6 0

9 -8 0

16.5

19 67*100

HONTH

1 0-6 0 1 1-6 0

1 2-80

1- 81

2-6 1

3 -8 1

4 -6 1

5 -8 1

6 -61

7-81

2 37 .1

3 -8 0

1 7.0

1 7 .5

4— 80

15.0

14.2

1 1.0

2 4 0 .3
242.4

5 -80

13.9

1 3.1

11*0

1 0.9

6 —80

13.6

1 2.9

1 1.4

1 1.7

1 2 .4

7 -8 0

11*4

1 0.4

8 .7

8 .0

6.6

1.0

2 44.5
246 .9

8 -8 0

11.2

1 0.3

8 .9

8 .4

7*6

5 .2

9 .6

9 -8 0

1 1 .4

10.7

9 .6

9 .4

9.0

7 .8

1 1 .4

13.3

1 0 -8 0

11.6

1 1.0

10.1

1 0 .0

9.8

9 .1

1 2 .0

13.2

1 1 -8 0

11.9

1 1.3

1 0.6

1 0 .5

10 .5

10.1

1 2.5

13.5

13.6

14.0

1 2 -8 0

11.9

1 1.4

10.8

1 0 .8

1 0 .7

10.5

12.5

13.2

1 3.2

13.2

1 2.3

1 -8 1

11.7

1 1.2

1 0.6

1 0.6

10.5

1 0.3

11.9

12.4

12.1

11.8

1 0 .7

9 .1

2 -81

11.7

11.3

1 0 .8

10.7

1 0 .7

1 0.5

11.9

12.3

1 2 .1

11.9

1 1.2

10.6

1 2. 1

3-81

11.4

11.0

10.5

1 0 .4

1 0 .4

10.2

1 1 .4

1 1.6

1 1 .4

11.0

1 0.3

9 .6

9.8

7 .5

4-81

1 1.0

10.6

1 0.1

1 0 .0

9.9

9 .6

1 0.7

10.8

1 0 .4

1 0.0

9 .2

8 .4

8 *2

6 .3

5. 1

5-81

C
D

o
•

247.1

1 0.4

9 .9

9 .9

9.8

9 .5

1 0.4

10.5

10.2

9 .8

9 .1

8 .4

8 .3

7 .0

6 .7

8 .4

6 -81

10.7

1 0.3

9 .9

9 .6

9.7

9 .5

1 0.3

1 0.4

1 0 .0

9 .6

9 .0

8 .5

8.4

7 .5

7 .4

8 .6

7-81

1 0.9

10.6

1 0 .2

1 0.1

10 .1

9 .9

1 0.7

10.8

10.5

1 0.2

9 .8

9 .4

9.5

9 .0

9 .3

1 0.8

1 2 .0

15.2

8 -81

10.9

10.6

10.2

1 0 .2

10.1

10.0

1 0.7

1 0.8

1 0.5

1 0 .3

9 .9

9 .6

9.6

9 .2

9 .6

1 0.7

11.5

1 2 .8

1 0 .6

1-tJU

2 -8 0

3 -8 0

4 -e u

5 -60

6-BO

7 -8 0

8 -8 0

11-60

I Z — 80

1 -81

2 -61

3 -6 1

4 -8 1

5-61

6 -6 1

7 -8 1

249 .0
251 .6
254.2
257 .0

c

I
c

3
c

1 3.1

IN ITIA L

259 . 5
261.4
263.9
265.5
2 66.6
2 66.4
270 . 3

8 .8

273.5
275.8

PTOKTK

PREPARED" BY "FEDERAL "RESERVE BAWC OF S T .
SEPTEMBER 2 4 t 1981

LO UI S

PRODUCER PR IC E I N D E X , F I N I S H E D GOODS - SE ASONALLY AD J U S T ED
___________________COMPOUNDED ANNUAL R AT ES OF CHANGE_________________

TERMINAL
MONTH

IN IT IA L
1-80

2 -8 0

1 5,5

3 -60

4—60

5 -80

6 -60

7 -80

8 -6 0

9 -8 0

1 0 -6 0 1 1 -6 0

1 2 -80

l-«l

2 -8 1

3 -61

4 -6 1

5-61

6 -61

7 -6 1
2 3 7 .3

I7 t I

3-80

2 -8 0

1 9 6 7 * lO O

MONTH

14,0

2 39 .9
2 41 .7

4-8 0

13**

11*7

5 -8 0

1 1.4

9 .6

7 .5

5*6

6 -8 0

11.2

9 .8

8 .4

7 .9

9*4

242 .8
1 0. 3

2 44 .8
2 49 .0

7-8 0

1 3.0

12.2

11.8

1 2.6

1 6 .3

8-80

13.4

1 2.8

1 2.5

1 3 .3

1 6 .0

1 9.0

1 5.5

9 -60

1 2.1

1 1.4

li.O

1 1 .3

1 2 .7

1 3.5

9 .3

3*4

1 0 -8 0

12.1

1 1.5

11.1

1 1.4

1 2 .6

1 3.2

1 0.2

7 .6

1 2 .0

1 1 -8 0

1 1.7

11.2

1 0.8

1 1 .0

1 2 .0

12.3

9 .8

8*0

1 0 .4

8*8

12-80

1 1.0

10.5

10.1

1 0 .2

1 0. 8

1 0.9

8 .7

7 .1

8 .3

6 .5

4 .3

1 -81

U*4

10.9

1 0.5

10 *7

11*3

11.5

9 .7

8*6

9 .9

9 .2

9 .5

8 .8

9 .9

9 .3

9 .5

1 2.2

9 .6

9 .7

1 0.8

10.6

1 1.0

1 3.3

12.6

1 5 .6

2 2 .6

2 52 .0
2 52 .7
2 55 .1
256 .9
2 57.8
1 4.9

2 60.8

2 -81

1 1.2

10.7

10,5

1 0 .6

11. X

1 1.2

9 .7

3 -81

1 1.5

11.1

1 0.9

1 1 .0

U .6

1 1 .7

10.4

4 -81

11*4

1 1.0

10*8

10*9

11*4

11*5

10*4

9*7

10*7

1 0.5

10*8

1 2.5

11.7

1 2 .7

9 .9

5 -8 1

1 0.7

10.3

1 0 .1

10*1

1 0 .5

1 0.5

9 .4

8*7

9 .4

9 .0

9 .1

1 0.1

8 .9

6 .6

5 .3

6-81

10.5

1 0.1

9*9

9 *9

IQ-rZ

10*2

9*1

0*5

9*1

8 .8

8 *8

9 .5

8.5

8*2

5 .8

3 .9

6 .9

7 -81

1 0.2

9 .8

9 .6

9 .6

9 .9

9*8

8*6

8*3

8*8

_ 8*4

8 .3

8 .9

8*0

7 .7

5 .7

4*4

6 .2

5 .5

8 -8 1

9 .9

9 .5

9 .2

9 .2

9.*

9*4

8*4

7*9

8 *3

7 ,9

7 .8

8*3

7 .3

7 .0

5*3

4 .2

5 .3

4 .5

3 .6

1 -80

2 -80

3 -60

4 -8 0

5-ao

6 -6 0

7 -8 0

8 -6 0

9 -8 0

10-60

11-8 0

1 2-80

1 -6 1

2 -61

3 -6 1

4 -6 1

5 -61

6 -6 1

7 -6 1




IN ITIA L

2 62 .6
2 6 6 .0
2 6 6 .1
0 .9

2 66.3
2 6 9 .6
27 1 *0
2 71 .8

HONTH

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 4 , 1981

4




RATIO

PRICES

SCALE

1967-100

SEASONALLY

CPI-U FOR

A LL

ARE

LATEST

PLOTTEDt

ANNUAL

RATES

OF C H A N G E

FO R P E R I O D S

IND I C A T E D .

AUGUST

PREPARED

RATIO

PRODUCER

SCALE

1967-100

SEASONALLY

PERCENTAL
LATEST

SCALE

1967-100

URBAN CONSUMERS

PERCENTAGES
OATA

RATIO

ADJUSTED

ARE

ANHOAL

DATA PLOTTED.

RATES

OF

CHANGE

BY F E D E R A L

RESERVE

PRICES

8AM

OF

RATIO

ADJUSTED

FOR P E R I O D S

ST.

LOUIS

SCALE

1967-100

IND I C A T E D .

AUGUST
P RE PA RC O * Y

5

FEOERAL

RESERVE

BANK OF

LOUIS

PRODUCER PRICE INDEX, FIN IS H ED CONSUMER FOOOS - SEASONALLY ADJUSTED
____________________ COMPOUNDED ANNUAL RATES OF CHANGE_________________________
100

>
»
0»
o

T ERM IN AL ________ __ _______________________________ ____________________________ I N I T I A L MONTH__________________________________________________________________________1967 «
MONTH
3 -61
4 -81
5 -81
6 -6 1
7 -6 1
5 -60
9 -6 0 1 0 -6 0 11-8 0 12-80
2 -61
2 -80
3-80
6 -6 0
7 -80
8 -80
1- 61
i -s o
2 -8 0

—6 . 5

230 .7
232 .9

3 -8 0

2 .4

12.1

-3 .7

-2 .3

-1 4 .9

-1 .5

0 .2

-5 .3

6 -8 0

0 .1

1.8

7 -8 0

7*6

8 -80

229.8
5 .3

230.8

-1 .4

6 .2

7.0

232.1

10.6

10.2

2 0 .2

28.3

5 4 .0

1 1.3

1 4.6

1 5.2

2 4 .2

31.2

45.3

3 7 .0

9 -8 0

1 0.7

1 3.4

1 3.7

2 0.4

24.5

3 1 .0

2 0.8

6 .5

10-80

10.5

1 2.8

1 2.9

1 8 .4

2 1 .1

2 5.0

16.6

7 .5

11-80

9 .8

11.8

1 1.7

1 6.2

18 .1

2 0 .4

1 3.3

6 .3

6 .2

3 .9

12-80

8 .9

10.6

1 0.4

14.1

1 5 .4

1 6.9

1 0.6

4 .8

4 .3

2 .2

5 -8 0

240.6
2 4 7 .0
2 4 8 .3
2 50.0

8 .5

250.8
0 .5

250.9
251.1

1-81

8 .2

9 .7

9 .4

12.5

13 .5

1 4.4

8.9

4 ,0

3 .4

1.8

0 .7

l.o

2-81

6 .9

8.1

7 .8

10.4

1 0 .9

1 1.5

6 .4

2 .0

1.2

-0 .6

-2 .1

-3 .3

-7 .4

3 -81

7 .3

8 .5

8.2

1 0.5

11 .1

11.5

7.1

3 .4

2.9

1.8

1 .3

1 .6

1 .9

2 49.5
1 2.2

251.9
2 51 .6

4 —81

6 .7

7 .7

7 .4

9 .5

9,9

10,2

6.1

2 .8

2 ,3

1 ,3

0.8

0 .8

0.8

5.2

5-81

6 .1

7 .0

6 .6

8 .5

8.8

8 .9

5.2

2 .2

1 .6

_e*7

0 .2

0 .1

-o .i

2 .4

-2 .1

-2 .8

6-81

6 .1

6 .9

6 .6

8 .3

8 .5

8 .7

5.3

2 .5

2,1

1*3

1 .0

1 .0

1 .1

3 .3

0 .5

1 .4

5.9

7 -81

6 .8

7 .6

7 .3

9 .0

9.3

9 .4

6 .4

3.9

3 .7

3 .2

3 .1

3 ,4

3.9

6 .3

4 .8

7 .0

1 2.3

1 9 ,1

8-81

6 ,5

7 .3

7 .0

8 .6

8*8

e,9

6 .0

3*8

3 ,6

3 .1

3 .0

3 .3

3,6

5 .6

4 .3

5 .8

8 ,9

1 0 .4

2 .4

1 -80

2 -8 0

3-8 0

4 -8 0

5-80

6 —80

7 -8 0

8 -6 0

9 -8 0

10-60

11-80

12-80

1 -81

2-81

3 -81

4 -81

5-81

6 -8 1

7-61

251 .0
2 52.2
255 .9
2 56 ,4

IN IT IA L MONTH

PROOUCER PR IC E IN D E X , F I N I S H E D GOODS» EXC LU DI NG FOOOS - SEASONALLY AD J U S T ED
____________________________ COMPOUNDED ANNUAL R AT ES OF CHANGE________________________________
MONTH
1

IN IT IA L

TERMINAL
MONTH
1 -60

2 -80

3 -8 0

4 -80

5-80

6-6 0

7 -6 0

8 -6 0

9 -6 0

1 0 -6 0

11-80

1967 * lOD
1 2 -60

1 -6 1

2 -61

3 -61

4 -6 1

5 -61

6 -6 1

7 -61
2 3 7 .9

2 -8 0

2 5.8

3 -8 0

2 0,3

1 5 ,1

4-80

19.8

1 7.0

5 -8 0

1 6 .1

1 3.0

1 2.0

5 .5

6 -8 0

1 5.1

12.6

11.8

8 .4

1 1. 3

7 -80

1 4 ,9

12.9

1 2.3

10.2

1 2 ,6

1 3.9

9 .9

1 1 .4

11.4

8 -6 0

1 4.0

12.2

240 .7
2 44.2

1 8.9

1 1.6

2 45 .3
2 4 7 .5
2 5 0 .2
2 5 2 .0

9 .0

252 .5

9 -8 0

12.5

1 0.7

10.0

8 .4

9 .1

8 .3

5.6

2 .4

1 0 -8 0

1 2.6

1 1 .1

1 0.5

9 .2

1 0 .0

9 .6

8.2

7 .9

1 3.6

1 1 -8 0

12.4

11.0

10.5

9 .4

1 0 .0

9 .8

8.8

8 .7

1 2.0

2 5 5 .2
1 0 .3

257 .3

£
1
2

11.7

10,4

9 .9

8 .8

9.3

9 .0

8 .0

7 .8

9 .7

7 .8

5 .3

1-81

12,4

11.2

10,9

1 0,0

1 0 ,6

1 0 .5

9 .9

10.1

12,1

1 1.6

12.2

1 9.7

2-81

12,6

1 1,6

11.2

1 0.5

1 1.1

n .o

10.6

1 0 .9

1 2 .7

12.5

1 3.2

1 7.4

1 5 .1

3 -81

12.9

1 1.9

11.7

11 .0

1 1 .6

1 1.6

1 1.4

1 1 .7

1 3.3

1 3 .3

1 4.0

17.1

1 5 .8

1 6 .3

4 -8 1

1 2.9

12.1

11.8

1 1 ,3

1 1,8

1 1.8

1 1.6

1 2 ,0

1 3.4

1 3.3

1 4.0

1 6.2

1 5.1

15.1

1 3 .7

5 -81

12.2

1 1.4

11.1

1 0.5

1 1 .0

10.9

1 0.6

1 0.8

1 1.9

1 1.7

11.9

1 3.3

1 1 .6

10.6

7 .8

2 .2

6 -8 1

11.9

11.1

1 0.9

1 0 ,3

10 .7

1 0.6

1 0.3

1 0 .5

1 1.4

1 1.1

11.2

1 2.3

1 0 .8

9 .8

7 .7

4 .7

7 .3

7 -81

1 1.3

1 0.5

10.2

9 .7

10,0

9 ,9

9 ,6

9.6

10.4

1 0 ,0

10.0

10.6

9 .2

8 .0

6 ,0

3 .6

4 .3

1 .3

8-81

1 0.9

1 0,1

9 .9

9 .3

9 ,6

9 .5

9 .1

9 ,1

9 .8

9 .4

9 .3

9 .8

6.4

7 .4

5 .6

3 .7

4 .2

2 .7

4 .0

1-80

2-80

3-80

4 -80

5 -8 0

6 -6 0

7 -60

8 -6 0

9 -60

1 0-60

1 1-8 0

12-80

1 -6 1

2-61

3 -6 1

4 -61

5 -8 1

6-61

7-61




IN ITIA L

256 . 4
2 62 .3
265 .4
2 66.6
2 71.7
2 72 .2
273.8
274. 1
2 75 .0

MONTH

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 4* 1981

6

INDUSTRIAL
RATIO

PRODUCTION*

SCALE

RATIO

1967-100

SEASONALLY

1973

1974

1975

1976

1967-100

ADJUSTED

1977

1978

SCALE

1979

1980

1981

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTED:

AUGUST PRELIMINARY

# REVISEO FROM 1980.

PREPARED BY FEDERAL RESERVE 8ANK OF ST.

LOUIS

I N D U S T R I A L PRODUCTION*
COMPOUNOED ANNUAL RA TE S OF CHANGE
TE RMI NA L
MONTH

IN ITIA L
1 -80

3 -80

-3 .5

2 -8 0

3 -80

4 -6 0

5-80

6 -6 0

7 -6 0

8 -8 0

9 -8 0

1 0 -8 0

11-8 0

12-80

1- 61

2 -61

3—61

4 -61

5 -6 1

6 -61

7 -61

-1 .6

1 5 2 .8
-5 .4

1 5 2 .1

4 -8 0

-1 2 .0

-1 6 .8

-2 6 .8

5-B0

-1 7 .0

-2 1 .6

-2 8 .6

-3 0 .3

6 -8 0

-1 7 .2

-2 0 .8

-2 5 .3

-2 4 .6

-1 8 .3

7 -8 0

-1 5 .9 -1 8 .5

-2 1 .5

-1 9 .7

-1 3 .7

-8 .9

0
0
1
0
0
o

2 -8 0

1967 * 100

MONTH

1 4 8 .2
1 4 3 .8
1 4 1 .4
1 4 0 .3

-1 3 .4

-1 4 .9

.7

-4 .4

3 .4

17.5

-8 .3

-9 .2

-9 .9

-6 .0

1 .3

8 .8

18.9

2 0 .2

-2 .1

4.7

1 1.4

1 9.2

2 0 .1

19.9

1 4 2 .2
1 4 4 .4

0
C
O
1
o

1 ^

-1 1 .8

9 -8 0

-5 .5

-6 .0

-6 .1

11-80

-3 .0

-3 .1

-2 .8

1 .2

7 .7

13.8

2 0 .3

2 1 .2

2 1.7

2 3 .5

12-80

-1 .9

-1 .9

-1 .5

2 .2

8 .0

13.1

1 8.2

1 8.3

1 7 .7

1 6 .6

10.1

1 4 6 .6
1 4 9 .2
1 5 0 .4

1-81

-1 .0

-1 .0

-0 .6

2 .9

8.0

12.4

1 6.4

1 6.2

1 5.3

13.8

9 .2

8 .3

2-81

-0 .7

-0 .7

-0 .2

2 .9

7.5

11.2

14.5

14.0

1 2 .7

1 1.0

7 .2

5 .7

3.2

1 5 1 .4
1 5 1 .8

3-81

-0 .5

-0 .4

0 .0

2 .9

7 .0

10.2

1 2.9

12.2

1 0.9

9 .2

5 .9

4 .6

2.8

2 .4

4-81

-0 .6

-0 .5

-0 .1

2 .5

6 .2

9.0

1 1.2

1 0.4

9 .1

7 .4

4 .4

3 .0

1 .3

0 .4

-1 .6

5-81

-0 .1

-0 .1

0 .3

2 .8

6.2

8 .7

1 0.7

10.0

8 .7

7.2

4 .7

3 .7

2 .6

2 .4

2 .4

6 .5

6-81

-0 .0

0 .0

0 .4

2 .7

5.8

8 .1

9 .8

9 .1

7 .9

6 .5

4 .3

3 .4

2 .4

2 .2

2 .1

4 .0

1 5 2 .1
1 5 1 .9
1 5 2 .7
1 5 2 .9

1 .6

7-61

0 .2

0 .3

0 .6

2 .8

5.7

7.8

9 .3

8 .6

7 .5

6 .2

4 .3

3 .4

2.7

2 .5

2 .6

4 .0

2 .8

4 .0

8-81

-0 . 1

0 .0

0 .3

2 .3

5 .0

6.9

8 .2

7 .5

6 .4

5 .1

3 .2

2 .4

1 .6

1.3

1.1

1 .8

0 .3

—0 . 4

-4 .6

1 -80

2 -8 0

3 -80

4 -80

5—60

6 -6 0

7-8 0

8 -6 0

9 -80

1 0 -6 0

11-6 0

1 2-80

1 -6 1

2 -61

3 -81

4 -61

5 -81

6 -61

7-61

IN ITIA L

1 53 .4 P
1 5 2 . 8P

MONTH

♦ R EV IS E D FROM 1980
P - PRE LIM INA RY




PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
SEPTEMBER 16# 1981

7

PERSONAL
RATIO

SCALE

TRILLIONS

MONTHLY

OF

DOLLARS

INCOME

TOTALS

AT

SEASONALLY

ANNUAL

RATIO

RATES

TRILLIONS

ADJUSTED

OF

SCALE

DOLLARS
2. 5

0.9
SOURCEi
PERCENTAGES

A RE

LATEST

PLOTTEDi

DATA

ANNUAL

RATES

AUGUST

OF

CHANGE

FOR

PERIODS

U.S.

DEPARTMENT

OF

COMMERCE

INDICATED.

PRELIMINARY
PREPARED

Co m p o u n d e d

TERM INÂT"

8 Y FEDERAL

PERSONAL INCOME
An n u a l r a t e s o f

~TftTTT£E

RESERVE

8 ANK

OF

ST.

LOUIS

ch an ge

rv
j
1
O
a
O

4^MT

t-:-o

“8 - ÔC

1
o

3-80

<
■

M ON TH

1 - W “' 2 - 8 0

B I L L I O N S OF
do llar,
A N N U A L RAT ES

^ T nT F T

' 1 0 - F I T ' 1 1 - B T T '1T - Ï Ü ' l - s r

- Ç-_F1

3-31

6 —8 1

7-SI

2*086.A

5.T

3-80

7.T

"'S.7

4-8C

4.9

A.6

5 — 80

5.4

5 ♦A

?♦101.0
0. 6

2,102.1
7. 1

2,114.1

6-80

5.9 '

5~.1T

7 .4

7.6

7-80

3.3

8.'8

8 :b

11. J

14. 1

8-80

8*6

9.1

9.2

1 1. A

1279' '

9 — 0’U"

itto

97

'

2,127.1
” 2 l. X )
15.7

2,161.2
10.6

2 , 1 7 9.

12

13 . 6

1 5 . 6 " 1 3.~0

15.3

1i . 0

14 .2

15.9

16. 1

11 . T "

1 1 .A

13 . 0

1 4. 0

r s r ? ' ■ l ^ ' .T T ■1 b . l ”

17.7-

1 3. 5

14.6

13.T

i 3 . _3“ T 3 7 T

n : y

10. O
''

10.2"

i4~.~z

"11-80

10. 5

1 Z- H0

" 1TTV5

11.0

1 1. 3

1 - 81

10.8

11.3

11.5 ” T 2 . t

13 . 5

14. 4

2-51

10. 7

'IT . T

11 . T

I?

.5

13. 1

13.8

12.8

13.r

5 - 81

10.8

11

11.4

12 .A

1B. cr

1 3. 6

12.7

13.0

4 - 8 1 ''

1 0. 5 "

10.9

I l . I

12 . 0

12

1277T

10.3

10. é

10. 8

1 1. 6

12 . 0 "

12.4

6-81

Y fj.i

10.5

107 6

11.4

1 1. 7

7-81

ÏÔ7 7 ‘ I 1 . 0

11. 1

11 V

.

8-M

1 0. 9

il. 2

it.i

1-80

2-30

¿- 8 0

1 4 . TT

16.7
l'b.TT

2 ,234T3
1 3. 3

2 »Z57.6

1 375 " 1 1 . 9

10 . 6

'— 2 , 2 7 5 7 *

1 27 Ü"

1 2.7

11.7

11.2

1 1 . 5 " " 97T"

12.6

TT78~

1 1 . A"

11.7

10. 8

12.7

11.8

1 1. 0 " ' 1 0 7 5 "

10.5

9.6

9.6 "

7. 1

1 1. è

11.7

" i i .r

o
o

13.5

l' ?:4

9.Ô

9.0

8.8

7.1

7.2

1 2. 1

1 1. j

1 1. 4

1 0 . 9 " 1072

9.8

9.7

Ô7 9 -

8.e

7.7

8.0

8.9

12. 2

1 2. 6

11.9

1 2. 1

11.7

1 17 2

10.9

11. 0

10. 5 ‘ 1 0 . 8 " Ï Ô . 4

11.5

.8

18. V

12 . 0

12. 4

12.7

1 2. 1

12.2

11.9

11.5

11.3

11 . 4

11. 1

11.3

11.2

12.2

13.9

16.5

14. 1

4 - 80

5-eo

6-8 0

7-80

8-80

9-80

10- 80

1 1 - 80

12-80

1- 81

2-81

3-8 1

4-81

5-81

6-8 1

7-8 1

l ô. K

INITIAL
P-

A

2,205.7

10.Z -nj78~" T l . 1

1
"0

~ 10 —"80 '

'

2,30077
2,318.2
12.1

2,34074
¿735 3 . 0
2,367.4
2,184.3
2 ,4 19.0
2 »4 45 .8 H

MONTH

PRELIMINARY




PREPAREO B Y FEDERAL
SEPTEMBER

8

17»

1981

R E S E R V E riANK O F

ST . LO UI S

"

RETAIL
RAT ! 0

SALES

SCALE

1973

RAT I 0

1974

1975

1976

1977

1978

1979

SOURCE:

U. S.

1980

SCALE

1981

DEPARTMENT OF COMMERCE

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED.
LATEST DATA PLOTTED: JULY,

AUGUST ADVANCE ESTIMATE
PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

R E TA IL SALES
COMPOUNDED ANNUAL RATES OF CHANGE
IN IT IA L MONTH
1 -80
2 -8 0

2 -8 0

3 -8 0

4 -8 0

5-80

o-eo

7 -6 0

8 -6 0

9 -8 0

10-8 0 1 1 -8 0

M I L L I O N S OF
1 2 -80

1 -8 1

2 -61

3 -81

4-81

5 -6 1

6 -6 1

7 -61

-9 .5

78,899

-1 7 .5

-1 7 .0

0
CO
1
¥\
*

-1 2 .9

-1 4 .0

-1 1 .9

6 -8 0

-5 .1

-4 .0

1 .2

1 1.8

3 3 .8

7 -6 0

-0 .2

1.8

7 .5

17.2

3 1 .2

2 8.6

CD

1
o

-1 3* 9 - 1 8 . 0
-1 5 .0

CD

3 -8 0
4 -8 0

77 ,6 0 3
76,404
-6 .5

75,975
77,843
7 9 ,4 9 1

0 .6

2 .4

7 .0

14.1

21.9

1 6 .3

9 -80

2 .0

3 .8

7 .9

13.8

1 9. 5

15.1

8.8

12.6

10-80

3 .4

5 .1

8 .9

13 .9

1 8.5

1 5.0

1 0.8

1 3 .7

14.8

1 1-80

4 .9

6.6

10.1

1 4 .7

1 8. 7

1 5.8

1 2.9

1 5.5

17.1

19 .4

12-80

5 .3

7 .0

10.2

1 4.1

1 7. 4

14.9

1 2.3

1 4.2

1 4.8

14 .7

1 0.3

1-81

7 .4

9 .1

12.3

16.1

19 .3

1 7.4

1 5.6

17.8

19.1

2 0 .6

2 1 .2

3 3.2

2-81

8 .4

10.0

1 3.0

16.6

1 9. 5

17.8

16.3

1 8 .3

1 9.4

2 0 .6

2 1.0

26.8

2 0.6

3-81

8.6

1 0.1

1 2.9

1 6.1

1 8. 6

27.1

1 5.7

17.3

18.1

1 8.8

1 8.6

21.5

16*0

1 1*6

4 -8 1

6 .3

7 .5

9 .8

12.4

1 4.3

12.5

10.8

11.5

1 1.4

10*8

9 .2

8 .9

1*8

—6 . 4

-2 1 .5

5 -81

5 .5

6 .6

8.7

10.9

1 2.5

10.8

9 .1

9 .6

9 .2

8 .4

6 .7

6 .0

0*1

-5 .9

-1 3 .6

-4 .8

6 -8 1

6.8

8 .0

1 0.0

12.2

13.8

12.3

1 0.9

1 1.5

11.3

10.9

9 .8

9 .7

5.5

2*0

-1 .0

1 1 .2

2 9.9

5 .2

7 9,829
8 0,6 20
81,552
82,764
83,443
8 5,463
86,810
87,608
85,855
8 5 ,5 0 1

6 .2

7 .3

9 .1

1 1.1

12 .5

1 1.0

9 .6

10.0

9 .8

9 .2

8 .0

7 .7

3.9

0 .9

-1 .6

6 .1

12 .0

-3 .4

8-81

6 .3

7 .3

9 .0

1 0 .9

12 .2

1 0.7

9 .5

9. 8

9 .6

9. 1

8 .0

7 .7

4 .5

2 .0

0 .2

6 .5

1 0 .6

2 .1

8 .0

1 -80

2 -80

3 -80

4 -8 0

5-80

¿-8 0

7 -8 0

8 -8Ô

$ -8 0

1 0-80

11—8 0

1 -6 1

2 -8 1

3 -61

4 -8 1

5 -6 1

6 -61

7 -61

o

7 -8 1

X

8 7,3 84
8 7,1 31 P
87 ,69 0 6

P - P R E LIM IN A R Y

E - ESTIM ATED




PREPARED BY FEDERAL RESBtVE BANK OF ST* LOUIS
SEPTEMBER 11, 1961

9

HOURLY COM PENSATION* P R IV A T E B U S IN E S S S EC TO R *
COMPOUNDED ANNUAL R A TE S OF CHANGE
TERMINAL
QUARTER

IN ITIA L
3-76

4— 76

1 -77

2 -7 7

3— 77

4 -7 7

1-78

2-78

3 -78

1977 * 100

QUARTER
4 -7 8

1 -79

2 -7 9

3-79

4 -7 9

1 -8 0

2 -80

3-8 0

4 -8 0

1-81
95.5

A-7 6

7 .9

1-77

7 .4

6 .9

2 -7 7

7 .5

7 .2

7 .6

3 -77

7 .7

7 .6

8.0

8 .3

4 -7 7

7 .5

7 .4

7 .6

7 .6

6 .9

9 7.1
9 8 .9
1 00.9
1 02.6
1 05.0

1-78

7 .9

7 .9

8 .1

8 .3

8.3

9 .7

2-7 8

7 .9

7 .9

8 .2

8 .3

8 .3

9 .0

8.2

3-78

8 .1

8 .1

8 .3

8 .4

8.4

8.9

8 .6

8 .9

4 -7 8

8 .2

8 .2

8 .4

8 .6

8.6

9 .1

8 .9

9 .2

9.5

107. 1
109.4
111.9
115.0

1-79

8 .5

8 .6

8 .8

9 .0

9.1

9 .6

9 .5

10.0

10.5

1 1.6

2 -7 9

8 .8

8 .9

9.1

9 .3

9 .4

9 .8

9 .9

1 0.3

1 0 .7

1 1 .4

11.2

3 -7 9

8 .8

8 .9

9 .1

9 .3

9 .4

9 .7

9 .7

10.0

10.3

10.6

10.2

4-7 9

8 .8

8 .9

9 .0

9 .2

9 .3

9 .6

9 .6

9 .8

1 0 .0

1 0.1

9 .6

8 .8

8.5

1-80

8 .9

9 .0

9 .2

9 .3

9 .4

9.7

9 .7

9 .9

10.1

1 0.2

9 .9

9 .5

9 .7

1 0.8

2 -80

9 .1

9 .2

9 .4

9 .6

9.7

1 0 .0

1 0 .0

1 0.2

1 0.4

1 0.6

1 0.4

10.2

1 0 .5

1 1.5

1 1 8 .1
120.7

9 .1

123.2
126.4
1 3 0 .1

1 2 .2

3 -8 0

9 .2

9 .3

9 .4

9 .6

9 .7

9 .9

10.0

10.1

1 0.3

1 0 .4

10.2

1 0.0

10.3

10 .9

10.9

9 .5

4 -8 0

9 .1

9 .2

9 .4

9 .5

9.6

9 .8

9 .8

10.0

10.1

1 0.2

10.0

9 .8

10.0

1 0 .3

1 0.1

9 .1

8 .7

1 -8 1

9 .3

9 .4

9 .5

9 .6

9 .7

1 0 .0

10.0

10.1

1 0 .3

1 0 .4

1 0.2

10.1

10 .2

1 0.6

1 0.5

1 0.0

10.2

1 1 .7

2-81

9 .3

9 .4

9 .6

9 .7

9.8

1 0.0

1 0.0

1 0.2

1 0.3

1 0 .4

1 0.2

1 0 .1

10.3

1 0.5

1 0 .5

10.1

1 0.2

11.0

10.4

4— 76

1-77

2 -7 7

3-77

4 -7 7

1-78

2 -7 8

3 -7 8

4 -7 8

1-79

2-79

3 -79

4 -7 9

1 -8 0

2-80

3 -8 0

4 -0 0

1-6 1

2 -8 0

3 -80

4 —80

>75“

IN IT IA L
R EV IS ED

1 3 3 .1
135.9
139.7
143.2

QUARTER

FROM 1979

OUTPUT PER HOUR OF ALL PERSONS, P R IV A T E BUS IN ES S
COMPOUNDED ANNUAL R AT ES OF CHANGE
TERMINAL
QUARTER

IN ITIA L
3-76

4 -76

1-77

2 -7 7

4 -7 6

3 .1
1.9

2 .7

1 -78

2-78

3 -78

QUARTER

4 -7 8

1-79

1977 * 1 00
2 -7 9

3 -79

4-7 9

1-80

1-81

5 .8

2 -7 7

4 -7 7

0 .4

1 -77

3 -7 7

SECTOR*

-0 .4
5 .3

9 8.1
99 .5
9 9.4

3 -7 7

2 .8

3 .5

2 .4

4 -77

1 .8

2 .1

0 .9

1 .6

-2 .0

1-78

1.1

1.2

0 .1

0 .3

-2 .2

-2 .4

2-78

1.1

1.2

0 .3

0 .5

-1 .1

—0 . 6

1 00.7
1 0 0 .2
9 9 .6
1 .2

99.9

3-78

1.0

1 .1

0 .3

0 .5

-0 .7

-0 .3

0 .8

0 .4

4-78

0 .9

0 .9

0.2

0 .3

-0 *6

-0 .3

0 .4

0 .0

-0 .4

1-79

0 .7

0 .7

0.1

0 .2

-0 .7

-0 .4

0 .1

-0 .3

-0 .6

2 -7 9

0 .6

0 .6

0 .1

0 .2

-0 .6

-0 .3

0 .1

-0 .2

-0 .4

-0 .4

0 .0

3 -79

0 .5

0 .5

-0 .0

0 .0

-0 .6

-0 .5

—0 . 1

—0 . 4

-0 .6

-0 .7

—0 . 6

-1 .2

4 -7 9

0 .3

0 .3

-o .i

-0 .1

-0 .7

-0 .6

-0 .3

-0 .5

-0 .7

-0 .8

-0 .8

-1 .2

1-80

0 .4

0 .4

0.0

2 -8 0

0 .3

0 .3

-0 .1

100.0
99.9
-0 .8

9 9 .7
9 9 .7
9 9 .4
-1 .2

9 9.1

0 .0

-0 .5

-0 .3

-0 .1

-0 .2

-0 .3

-0 .3

-0 .2

-0 .3

0.2

1 .6

—CU 1

—0 . 6

-0 .4

-0 .2

-0 .4

-0 .5

-0 .5

-0 .5

-0 .6

-0 .4

0 .0

-1 .6

0 .4

-0 .2

1.2

9 9.5
9 9.1

3 -8 0

0 .4

0 .4

**o.;o

0 .0

—0 .4

-0 .3

-0 . 1

-0 .2

-0 .3

-0 .3

-0 .2

-0 .2

0 .0

4 -8 0

0 .3

0 .3

-0 .1

-0 . 1

-0 .5

-0 .4

-0 .2

-0 .3

-0 .4

-0 .4

-0 .3

-0 .4

-0 .2

0 .0

-0 .5

e .o

1 -8 1

0 .5

0 .5

0 .2

0 .2

-0 .1

0 .0

0 .2

0 .1

0 .1

0 .2

0 .3

0 .3

0 .6

1.0

0 .8

1 .6

1.8

4 .9

2 -81

0 .6

0 .6

0 .4

0 .4

0.1

0 .2

0 .4

0 .4

0 .4

0 .4

0 .6

0 .6

0 .9

1.3

1.2

1 .9

2 .2

3 .9

2 .8

3 -7 6

4 -7 6

1-77

2 -7 7

3-77

4 -7 7

1 -78

2 -78 " > -7 8

4 -78

1 -79

2-79

3 -79

4— 79

1 -80

2 -8 0

3 -8 0

4 -8 0

1-81

9 9 .4
-1 .2

99.

100.3
1 01.0

I N I T I A T - QUARTER
»R E V I S E D FROM 1979




PREPARED ftV ÉéDÉftÀL ftÈSÉRVÉ ßA*K ÖP“ ^ V .
AUGUST 2 6 , 1981

IO

1

LÖ u lS

PRODUCTIVITY,
RATIO

COMPENSATION,

COSTS*
r a t i o

19 7 7 -1 00

*

AND LABO R

SCALE
SEASONALLY ADJ USTED

REVISED

FROM

1979.

PERCENTAGES

A RE

LATEST

PLOTTEDt

DATA

S OURCE.

ANNUAL

RATES

2 ND

OF

CHANGE

FOR

PERIODS

scale

197 7 - 1 0 0

U.S.

DEPARTMENT

OF

LABOR

ST.

LOUIS

INDICATED.

QUARTER
PREPARED

BY F E D E R A L

RESERVE

BA N K

OF

U N I T L A W » CO S TS * P R IV A T E BU5TWESS SECTOR*
COMPOUNDED ANNUAL RATES Of CHANGE
T ER MI N AL
QUARTER

IN ITIA L
3 -7 6

4 -76

1-77

2 -7 7

3 -77

4 -7 7

1 -78

2 -7 8

3 -7 8

1977 * 100

QUARTER
4 -78

1-79

2-79

3 -7 9

4 -7 9

1 -6 0

2 -80

3 -6 0

4 -8 0

1 -81
9 7 .4

4— 76

7 .7

1-77

4 .4

1 .2

2 -7 7

5 .5

4 .4

7 .6

3-77

4 .8

3 .9

5 .2

2 .8

4 -7 7

5 .7

5.1

6 .5

5 .9

9.1

8 .0

10 .6

1 2.2

97 .7

7 .9

9 9 .5
100.2
102.4
105.4

1-78

6 .7

6 .5

2 -7 8

6 .8

6 .7

7 .8

7.8

9 .6

9 .8

7 .4

3 -7 8

7 .0

6 .9

7*8

7 .9

9.2

9 .2

7.7

8 .1

4 -7 8

7 .3

7 .3

8 .2

8 .3

9 .4

9 .5

8 .6

9 .1

1 07 .3
109.4
112.1

10.2

115.4

7 .8

7 .8

8 .7

8 .8

9.9

10 .0

9 .5

1 0.2

1 1.3

1 2.3

8 .1

8 .2

9 .0

9 .1

10 .1

1 0.2

9 .8

1 0 .4

11.2

1 1 .7

1 1.2

3 -7 9

8 .3

8 .3

9 .1

9 .2

10.1

10.2

9 .9

10 .4

1 1.0

11.2

10.7

118.5
121.4

1 0 .2

4-79

8 .4

8 .5

9 .2

9 .3

10 .1

1 0.2

9 .9

1 0.3

10.8

1 0.9

1 0.4

10.0

9 .9

1-80

8 .5

8 .5

9*1

9 .3

9 .9

1 0.0

9 .8

10.1

1 0.5

10.5

10.1

9 .7

9 .4

9 .0

2-80

8 .8

8 .9

9 .5

9 .7

10*3

1 0.5

1 0.3

1 0.6

1 1.0

1 1.1

10.9

10.8

1 1 .0

11.6

14 .2

W
1
C
D
O

1-79
2 -7 9

8 .8

8.9

9 .4

9 .6

1 0. 1

1 0.2

10.0

10.3

10.6

10.7

1 0.4

1 0.3

1 0 .3

1 0 .4

11.2

8 .2

1 24 .3
127 .0
131 .3

8 .8

8 .9

9 .4

9 .6

10 .1

1 0.2

10.0

1 0.3

1 0.5

10.5

10.3

1 0 .2

1 0 .2

1 0.2

1 0 .6

8 .9

9 .6

1-81

8 .7

8 .8

9 .3

9 .4

9 .9

1 0 .0

9 .8

1 0.0

1 0.2

1 0.2

9 .9

9 .7

9 .7

9 .6

9 .8

8 .3

8 .4

7 .2

2 -81

8 .7

8 .7

9 .2

9 .3

9 .7

9 .7

9 .6

9 .7

9 .9

9 .9

9 .6

9 .4

9 .3

9 .2

9 .2

8 .0

7 .9

7 .1

7 .1

3-76

4 ^7 6

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -7 8

4-78

1 -7 9

2-79

3-79

4 -7 9

1 -8 0

2 -8 0

3 -8 0

4 -6 0

1-61

1
0»
o

*

133.9

T T - 7 7 - 2— 77 “

IN IT IA L

137.0
1 39 .4
141.8

QUARTER

♦R EV IS E D FROM 1979




PREPARED BY E E O E J U T T R E m V E
AUGUST 2 6 , 1981

11

ftATjKTCir S i V T i M J i S

GROSS N A TIO N AL PROOUCT IN CURRENT DOLLARS
COMPOUNDED ANNUAL R A TES OF CHANGE
T ERM IN AL
QUARTER

IN ITIA L
4-76

1-77

2 -7 7

3-77

4 -7 7

1 -7 8

2-78

3 -7 8

1-79

4 -7 8

2-79

3-79

4 -7 9

1 -00

©
0
0
1

3-76
4 -7 6

B I L L I O N S OF
DOLLARS
ANNUAL RAT ES

QUARTER
3 -8 0

4 -8 0

1 -61

10.4

1 ,7 7 2 .5

1-77

13.1

1 5.9

2 -77

12.9

14.2

12.5

3 -7 7

1 ,8 3 9 .1
1 ,89 3.9

12.8

13.6

1 2.5

1 2.5

4 -7 7

1 1.8

12.2

11.0

1 0 .3

8.1

1-78

11.4

11.6

1 0.5

9 .9

8.6

9 .1

2 -7 8

1 2.6

13.0

12.4

1 2 .4

1 2 .4

14.7

20.5

3 -78

12.6

1 2.9

12.4

12 .3

1 2 .3

1 3.8

1 6.2

11.9

4 -7 8

12.9

13.2

12.8

1 2.0

1 3 .0

14.2

1 6.0

1 3.8

15.7

1-79

12.9

13.2

12.8

1 2.9

1 2 .9

13.9

15.2

13.4

14 .2

1 2 .7

2 -7 9

12.0

1 2 .0

1 1 .9

1 2.6

13.3

1 1.5

11.4

9 .2

5 .9

12.0

1 2.0

1 1.9

1 2.5

1 3 .1

11.6

1 1 .6

10.2

9 .0

1 ,95 0.4
1 ,90 8.6
2 ,0 3 2 .4
2 ,12 9.6
2 ,1 9 0 .5
2 ,2 7 1 .9
2 ,3 4 0 .6

12.2

12.4

3 -7 9

1 2.2

12.4

4 -7 9

1 2.0

1 2.1

11.8

1 1.7

11 .6

1 2.0

1 2 .5

11.2

11.0

9 .9

9 .0

10.5

8.8

1 -80

1 2.0

12.1

1 1.8

11.8

1 1 .7

12.1

12.5

11.4

1 1 .3

1 0.4

9 .9

1 1.2

1 0 .7

1 2.6

2 -8 0

1 1 .1

11.1

10.8

1 0 .6

1 0. 5

10.7

10.9

9 .7

9 .4

8 .4

7 .6

8 .0

6 .6

5.6

2 ,37 4.6
2 ,4 4 4 .1

12.2

2 ,4 9 6 .3
2 ,571 *7
2 .56 4.8

-l .l

3 -80

11. 1

1 1.2

1 0.8

1 0 .7

1 0. 6

1 0 .8

1 1.0

1 0.0

9 .7

8 .9

8 .3

8 .8

7.9

7 .6

5 .2

IX .8

4 -8 0

11.4

1 1.4

11.1

11.0

1 0. 9

1 1 .1

1 1 .3

10.5

10.3

9 .6

9 .2

9 .8

9 .3

9 .4

8 .3

13.3

1 4.9

1 -81

11.8

1 1.9

1 1.6

1 1 .5

11.5

1 1.7

1 2.0

1 1.2

1 1 .1

1 0.7

1 0.4

1 1 .1

10.9

1 1 .3

1 0.9

1 5 .3

1 7.0

1 9.2

2 -81

11.4

11.4

1 1.2

1 1.1

1 1. 0

1 1.2

1 1.4

10.7

1 0 .5

10.0

9 .8

10.2

1 0 .0

10,1

9 .7

12.5

12.8

1 1 .7

4 .7

3 -7 6

4 -7 6

1-77

2-77

3-77

4 -7 7

1- 7 8

2 -78

3-78

4 -7 0

1-79

2 -79

3-79

4 -79

1-80

2 -8 0

0
0
0
1

4 -e o

1-81

IN ITIA L

2 *637.3
2 .7 3 0 .6
2 .8 5 3 .0
2 .88 5.8

QUARTER

GROSS NATI ONA L PRODUCT IN 1972 DOLLARS
COMPOUNDED ANNUAL RAT ES OF CHANGE
T E R M ! NAL
QUARTER

IN ITIA L
3 -76

4 -76

1-77

2-77

4 -76

6 .6
6 .2

7 .4

3 -7 7

6 .3

7 .2

6 .0

5 .4

5 .8

4 .5

4 .2

2 -78

3-78

4 -7 8

1-79

2 -79

3-79

4 -7 9

1 -80

2 -80

3 -8 0

4 -0 0

1-81

6 .7

4 -7 7

1- 78

9 .6

2 -7 7

4 -77

3 .8

1 -77

3 -7 7

B I L L I O N S OF
DOLLARS
ANNUAL RATES

QUARTER

1 ,31 5.4
1 ,345.9
5.3

1 ,36 3.4
1 ,3 8 5 .8
1.7

1f 3 9 1 .5

1-78

5 .0

5.3

4 .2

3 .8

2 .4

3 .1

2 -78

5 .6

5 .9

5 .1

5 .1

4 .5

6 .0

1 ,4 0 2 .3
9.0

1 ,4 3 2 .8

3 -7 8

5 .4

5 .6

4 .9

4 .9

4 .4

5 .3

6.4

3 .9

4 -7 8

5 .4

5 .6

5 .0

4 .9

4 .6

5 .3

6.1

4 .7

5 .4

1-79

5 .2

5.4

4 .9

4 .8

4.5

5 .1

5.5

4 .4

4 .6

1 ,4 4 6 .7
1,46 5.8
3 .9

1 ,4 7 9 .9
1 ,47 3.4

2 -7 9

4 .6

4 .6

4.1

4 .0

3.6

3 .9

4 .0

2.8

2 .5

1.0

-1 .7

3 -7 9

4 .5

4 .6

4. 1

4 .0

3.6

3.9

4.0

3 .1

2 .9

2. 0

1 .1

4 .1

4 -7 9

4 .2

4 .3

3 .8

3 .6

3. 3

3 .5

3.6

2 .7

2 .4

1. 7

1 .0

2 .3

0.6

1 -8 0

4. 1

4 .2

3 .7

3 .6

3 .3

3.5

3.5

2 .7

2 .5

2. 0

1 .5

2 .6

1. 8

1 ,4 8 8 .2
1 ,4 9 0 .6
1 .5 0 1 .9

3 .1_

1 .463.3

2 -8 0

3 .1

3.1

2 .6

2 .4

2 .0

2 .0

1 .9

l.l

0 .7

-0 . 1

-0 .9

-0 .7

-2 .2

“ 3 .6

-9 .9

3 -8 0

3. 1

3 .0

2 .6

2 .4

2 .0

2.1

2 .0

1 .2

0 .9

0. 2

-0 .4

-0 .1

-1 .1

-1 .7

-4 .0

4 -8 0

3.1

3 .1

2 .7

2 .5

2 .2

2 .2

2 .1

1.2

0. 7

0 .2

0 .6

-0 .1

-0 .3 .

-1 .4

3.1

3 .8

1 -81

3 .4

3 .4

3.0

2 .9

2. 6

2 .7

2 .6

2 .1

1 .9

1.5

1.2

1 .7

1 .3

1 .4

1.0

4 .9

6 .1

8 .6

2-81

3 .2

3.1

2 .8

2 .6

2.3

2 .4

2. 3

1 .8

1 .6

1.2

0 .9

1 .2

0.8

0 .9

0 .5

.... 3 , 2

3 .5

3 .4

-1 .6

3-76

4 -7 6

1-77

3-77

4 -7 7

1 -7 8

2-78

3 -78

4 -7 8

1-79

2 -79

3-79

4 -79

1-80

2 -8 0

3 -8 0

4 -8 0

1-81




2-11

IN ITIA L

2 .4

1 ,4 7 1 .9
1tM 5 ,6
1 *516.4
1 ,5 1 0 .4

QUARTER

PREPARED BY FED ER A L RESERVE BANK OF S T .
SEPTEM BER 18* 1981

12

LO U IS

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
3
2

RATI O SCALE
T R I L L I O N S OF D O L L A R S
0
9

QUARTERLY T OT AL S AT ANNUAL RAT ES

DOLLARS

SE ASONAL L Y ADJ US T ED

2

8

2

7

2
2
2

6
5
4
3
2
I
0

2
2
2
2

9

8
7

6
9

8

. 6

.5
.4
.3

. 2

0
SO URCE:
PERCENTAGES

ARE

LATEST

PLOTTED:

DATA




ANNUAL

RATES

2N D

OF

CHANGE

FOR

PERIODS

U.S.

DEPARTMENT

OF

COMMERCE

INDICATED.

QUARTER
PREPARED

13

BY F E D E R A L

RESERVE

BANK

OF

ST.

LOUIS

GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

I972-IOO

1973
*AS

USED

1974
IN NA TI ON AL

1975

1976

1977

1978

INCOME ACCOUNTS

SOURCEi

P E R C E N T A G E S ARE ANNUAL RA TES OF CHANGE FOR P ER IO DS
L A T ES T

SCALE

1972-100

DATA PLOTTEDt

1979
U.S.

1980
DE PA R T M E N T

1981
OF C O MM ER CE

INDICATED.

2ND OUARTER
PREP AR ED BY FE DERAL

RE SER VE BANK OF ST.

LOUIS

I M P L I C I T PRICE O E F I A T O R FOR GROSS N A T I O N A L PRODUCT
___________ CCKPOUNOEO ANNUAL RATES OF CHANGE_____________
TE R MI N AL
QUARTER

IN ITIA L
3 -7 6

4 -7 6

1-77

4 -7 6

6 .1
6 .3

6 .3

4 -77

1 -7 8

2 -78

3 -78

OUARTER

4 -7 8

1-79

1972 * 100
2-79

3 -79

4 -79

1 -80

2 -8 0

4 -80

1-81

6 .8

1 3 4 .7 5
136.64

3 -7 7

6. 1

6 .0

6 .1

3 .4

6 .1

6. 1

6 .2

3 .8

6 .3

1-78

6 .1

6 .0

6 .1

3 .8

6.0

5 .8

2 -7 8

6. 7

6 .8

7.0

7 .0

7.5

8 .2

1 0.6

3 -78

6 .8

6 .9

7 .1

7. 1

7. 6

8 .0

9 .2

7 .7

*
1
C
D

1 3 8 .9 1

4 -77

7.2

7.2

7 .3

7 .6

8 .0

8.5

9 .4

8.7

9 .8

1-79

7 .3

7 .4

7 .6

7.7

8.1

8.4

9. 1

8.6

9.1

8. 4

2-79

7 .3

7 .4

7 .6

7.7

8.0

8 .3

8.9

8.4

8 .7

8. 1

7 .8

7,5

-...7*6

7 .7

8.0

. 8 .3

8*7

8*3

8.5

8 .0

7 .8

1 4 0 .7 5
1 42 .9 1
144.93
1 4 8 .6 3
1 5 1 .4 2
1 5 4 .9 9
1 5 8 .1 6
1 6 1 .1 7
7 ,8

1 6 4 .2 3

4 -7 9

7 .4

7 .3

7 .7

7.8

8 .0

8 .3

8.6

8.3

8 .4

8. 1

7 .9

8 .0

8.1

1-80

7 .6

7 .7

7.8

7 .9

8 .2

8.4

8.7

8 .4

8.5

8. 3

8 .3

8 .4

8.7

9 .3

8 .3

.. 8 . 5

8*8

8.6

8 ,7

8*6

8 ,8

9,1

9 .5

9 .8

8.6

8.9

8.7

8.8

8 .7

8 .8

9. 1

9 .4

9 .5

9 .2

. ? -9 0

7 .7

7. 8

3-80

7 .8

7 .9

4 -80

8.0

.
_

3 -80

3.7

2 -7 7

3 -7 7

6 .5

1 -7 7

2 -7 7

.

8-1

8 .1

8 .4

__8, S .
8. 6

1 7 5 .2 8
1 79 .1 8

3.1

8.2

9 .3

8.6

8.8

9 .0

8.9

9 .0

8 .9

9 .0

9.2

9.4

9 .8

9 .9

1 0.0

1 0.7

8»?

8*?

8*

8.6

8.8

9. 1

8.9

9 .1

9. 0

9. 1

9 .2

9.5

9 .8

9 .9

9 .9

10. 3

9 .8

8 .0

8.1

8 .2

8 .3

8.5

8 .7

8 .9

8.7

8.8

8 .7

8 .8

8 .9

9 .0

9 .2

9 .2

9 .0

8.9

8 .0

6 .4

3-76

4-76

1-77

2-77

3-77

4-77

1 -7 8

2 -78

3-78

4 -7 8

1 -7 9

2 -79

3-79

4 -7 9

1 -80

2 -8 0

3 -8 0

4-8 0

1-81

.

1-?1

2^51

.

1 6 7 .4 7
1 7 1 .2 3




IN IT IA L

18 3. 81
1 8 8 .1 4
1 9 1 .0 6

QUARTER

PREPARED BY FED ER AL RESERVE BANK OF S T .
SEPTEMBER 1 8, 1981

14

LO U IS

PERSONAL CON SUM PT ION EX P EN D ITU R ES IN CURRENT DOLLARS
_____________ COMPOUNDED ANNUAL R ATES OF CHANGE______________

B IL L IO N S OF
TER MINA L_______________________________________________________________________ I N I T I A L QUARTER______________________________________________________________________ DOLLARS
QUARTER
t
ANNUAL R AT ES
2-77
4-76
1-77
3-77
4-77
3-76
1-78
2-78
3-78
3-79
4-79
4-78
1-80
4-80
2-80
1-79
2-79
3-80
1 -8 1
4-76

12.9

1-77

13.1

13.4

2-77

11.4

10 .6

7.9

3-77

11.3

10.7

9.4

10.9

4-77

11 .6

11 .2

10.5

1 1 .8

12.8

1-78

10.9

10.5

9.8

10.5

10.3

7.8

2-78

11.8

11.6

11.3

12 .1

12 . 5

12.4

17.2

3-78

11.9

11.7

11.5

1 2 .2

12. 5

12.4

14.8

4-78

12.2

12.1

11.9

1 2 .6

12.9

12.9

14.7

13.4

14.3

1-79

12 .0

12 .0

11.8

12.3

12.6

12.5

13.8

1 2 .6

12.7

1 1.0

2-79

11 .6

11.4

11 .2

11 . 6

11. 7

11.5

12.3

11.1

10.7

8.9

1*127.9
1,163.9
1,186.2
1*217.4
1,254.5
1,278.3
1,330.1
1,369.9

12.5

1 ,416.6
1,454.1
1 , 4 78 . 0

6.7

3-79

11,8

11.7

11,5

11.9

12.1

12,0

12,7

11 .8

11 .6

10.7

10.6

14,6

4-79

12.0

11.9

11.8

12 .2

1 2. 4

12.3

13.0

12.3

12.2

11.7

11.9

14.6

1 4. 7

1-60

12 . 1

12 .0

11.9

12.3

12.4

12.4

13.0

12.4

12.3

11.9

12.2

14.0

13. 8

1*529 ,1
1,582.3
l,63*f Q

12.9

1,626.«

2-80

11.2

11.0

10.9

11 . 1

11.1

11.0

11.3

1 0 .6

10.3

9.7

9.4

10.1

8.6

5.7

3-80

11.4

11.2

1l . l

11.3

11.4

11.3

11 .6

11.0

10 .8

10.3

10 .2

10.9

10.0

8.5

6.4

14.3

4-80

11.7

11.6

11.5

11 .8

11.8

1 1.8

12 .1

1 1 .6

11.5

1 1 .2

11 .2

1 2 .0

11. 5

10.7

9,9

15.9

17,4

1-81

11.8

11.8

11,7

11.9

12.0

11.9

12.3

11,9

11 .8

11. 5

11 .6

12.3

11. 9

11,4

1 1 ,0

15,3

15,8

14,2

2-81

11.4

11.3

11 .2

11.4

11.5

11.4

11.7

1 1.2

11.1

10.8

10.7

11.2

1 0.8

1 0 .1

9,6

12.4

1 1.8

9.1

4,3

3-76

4-76

1-77

2-77

3-77

4-77

1-78

2 -78

3-78

4-78

1-79

2-79

3-79

4-79

l-eo

2-80

3-80

4-80

1-81

IN ITIA L

-1 .0

1,682.2
1.751,0
1, 810* 1
lf8 2 9 _ il

QUARTER

PERSONAL CONSUMPTION E X P 0 I D I T U R E S I N 1972 DOLLARS
___________ COMPOUNDED ANNUAL RAT ES OF CHANGE___________
TERMINAL
QUARTER

IN ITIA L
3-76

4-76

4-76

6 .1
4.7

4.0

3-77

4-77

1-78

2-78

3-78

4-78

1-79

2-79

3-79

4-79

1-80

2-80

3-80

4-80

1-81

6.1

2-77

2-77

6. 1

1-77

1-77

B I L L I O N S OF
DOLLARS
ANNUAL RA TE S

QUARTER

839.4
851.9
1.9

856.0

3-77

4.8

4.3

3.4

4.9

4-77

5.2

5.0

4.6

6 .0

7. 1

1-78

4.5

4.2

3.8

4.4

4.1

1.3

2-78

5.0

4.8

4.5

5.2

5.3

4.4

7.7

3-78

5.0

4.8

4.6

5.1

5. 2

4.5

6 .2

4.8

4-78

5.0

4.9

4.7

5.2

5.2

4.8

6 .0

5.1

1-79

4.6

4.4

4.2

4.6

4.5

4.0

4.7

3.7

3.2

0.9

2-79

4. 1

3.9

3.6

3.8

3.7

3.1

3.5

2.5

1.7

-0.1

3-79

4.1

3.9

3.7

3.9

3.8

3.3

3.7

2.9

2.4

1.4

1.7

4.7

4-79

4. 1

3.9

3.7

3.9

3.8

3.4

3.7

3.0

2.7

2 .0

2.3

4.1

866.4
881.3
884.1
900.6
911.2
923,4

5.5

925,5
-1.2

922,8
933,4
3.6

9 41 *6

3.7

3.5

3.6

3.5

3. 1

3.3

2.7

2.3

1.7

1.9

3,0

2,2

0 ,8

2 .6

2.4

2.4

2,2

1.7

1.8

1.0

0.5

-0.3

-0.5

-0 ,4

-2,0

-4,7

-9.8

3-80

3.0

2 .8

2 .6

2 .6

2.4

2 .0

2 ,1

1.5

1.1

0.5

0.4

0,7

-0,3

-1.5

-2,7

l°

3.8
?.9

L i

1-80
2-80

943.4
919*3
930.8

5.1

3.1

2.9

2.9

2.8

2.4

2.5

2 .0

1.7

1.3

1.3

1.7

_L ? L _

0 ,6

0,5

6. 1

3.4 .

3,2

3.0

3. 1

3.0

2.7

2 .8

2.4

2 .1

1.8

1,9

2.3

1,9

1 ,6

1 .8

6 .0

6.4

2-81

3. 1

2.9

2.7

2 .8

2.6

2.3

2.4

2 .0

1,7

1. 4

1.4

1,7

1, 3

1 ,0

1 .0

3,9

3.5

4-76

1-77

2-77

3 - 77

4-77

1-78

2-78

3-78

4-78

1-79

2-79

3-79

4-79

1-80

2-80

3-80

ICO

•

3.2

1-81

3-76




IN ITIA L

...

946*8

_

9S?tl

5.8

960.2
-2 ,1

4-80

1-81

QUARTER

PREPARED BY F E D E R A L R ESER VE BANK O F S T .
SEPTEM BER 1 8 , 1981

15

L O U IS

GROSS P R IV A T E D O M ESTIC IN VES TM EN T IN CURRENT DOLLARS
____________ COMPOUNDED ANNUAL R ATES OF CHANGE______________

BI L L I ONS OF
DOLLARS
ANNUAL RATES

I N I T I A L QUARTER

terminal

QUARTER
3— 76
4-76

4-76

1- 77

2- 77

3- 77

4-77

1- 78

2- 78

3- 7 8

4-78

1- 79

2- 7 9

3- 79

4-79

1-60

2-80

3 -e o

4-60

1- 81

8. 1

2 6 4 .7

1-77

32 . 5

62.4

2-77

31. 5

45.0

29.4

3-77

29. 2

37. 1

25.9

22.5

4-77

23.0

27.0

17. 0

11.3

1.1

1- 78

22. 2

25 . 2

17.4

13 . 6

9. 4

18. 4

2-78

23.9

26.7

20.6

18 . 5

17.2

26. 2

34. 5

3- 7 8

21 . 1

°
co
<j
\

1 7. 5

15 . 2

13.5

17. 9

17. 7

4-78

20.2

21. 8

16. 9

14.9

13.5

16. 8

16. 2

8. 0

13. 5

1- 79

19. 9

21. 2

16. o

15.2

14.0

16. 8

16. 4

10. 9

15. 2

17. 0

2-79

19. 4

20.6

16. 7

15.2

14.2

16. 6

16. 2

12. 0

15. 3

16. 2

15.4

13. 1

9. 2

10. 9

10. 0

6.7

-1.4

9.3

5. 6

6. 2

4. 4

0.6

-6.1

-10.6

2 9 6.6
316*7
3 3 5 .3
336*2

17.6

18. 5

14. 8

13.3

12.1

13. 8

4-79

15. 1

15.7

12. 2

10.6

9. 4

10. 4

3 7 7 .7
2.9

3 6 0 .4
39 2 .6
408*3
423*2
421*7
410*0

1- 80

14. 4

14 . 9

11. 6

10. 1

9. 0

9. 9

8.9

5. 6

6. 1

4.7

1. 8

- 2 .4

-2.9

5. 6

2-80

11. 5

11. 8

8. 6

7.0

5. 7

6. 2

4. 9

1. 7

1. 6

-0.3

-3.4

-7.6

-9.6

-9.1

3-80

9.8

9.9

6.9

5.3

4. 0

4.3

2. 9

-o .i

-0.4

-2.3

-5.2

-8.8

-10.6

-1 0 . 6

4-80

10. 6

10. 7

7.9

6.5

5. 4

5. 8

4.7

2. 1

2.0

0. 6

-1.5

-4.1

-4.6

-3.0

-5.7

3.5

23.7

1- 81

12. 3

12. 5

10. 0

8 .8

7. 9

8. 4

7. 6

5. 5

5.7

4.9

3.5

1. 9

2 .4

5. 3

5.2

16 .1

34 . 4

45*9

2-81

12. 7

13. 0

10. 6

9.5

8. 7

9. 3

8. 6

6.7

7.0

6* 4

5.3

4.1

4. 9

7.8

8.2

17 . 3

29.8

33*Q

21*2

3- 7 6

4-76

1- 77

2- 77

3- 77

4- 77

1-78

2- 78

3- 7 8

4- 7 8

1- 79

2- 79

3- 79

4-79

1- 80

N
)
1
0
0
o

3-79

3 5 0 .7

3-80

4 —8 0

1- 81

415*6
-21.7

390*9

-1 7 . 7 - 1 3 . 4

377*1
397*7
437*1
458*6

I N I T I A L QUARTER

GROSS PRIVATE DOMESTIC INVESTMENT IN 1972 DOLLARS
__________ COMPOUNDED ANNUAL RATES OF CHANGE___________
TERMI NAL
QUARTER
3- 7 6

4- 7 6

1- 77

2-77

3- 77

4-77

4-76

21. 3

2-77

21.6

3 1. 6

19. 5

25.3

17. 7

13. 6

16. 2

8.7

2.6

14. 1

16. 3

10. 6

7.0

3.9

14. 2

16. 0

11. 5

9.0

7. 5

15. 7

8.4

3- 79

4-79

1- 80

2-80

3-80

4-80

16. 4

2- 7 8

2- 79

-7.2

1- 78

1- 79

13 . 6

4-77

4-78

22 . 1

3-77

3- 7 8

BI LLI ONS OF
DOLLARS
ANNUAL RATES
1 -e i

3.7

1- 77

1-78

f\
>
1
-4
0
0

I N I T I A L QUARTER

186*3
41.8

203*3
213*7
220*6
216*5
224*9
15. 0

232*9
229*3

3- 78

11. 5

12. 6

5.8

3.9

8. 0

4. 0

-6.0

4-78

10. 6

11. 5

7.8

5.6

4. 0

7. 1

4. 1

-0.9

4.4

1 - 79

10 . 6

11 .4

8.1

6.3

5.1

7. 8

5. 7

2. 8

7.5

10. 6

2-79

9.8

10. 4

7. 4

5.7

4. 6

6. 7

4.9

2. 5

5. 5

6.0

1. 7

3- 7 9

9.0

8. 4

5. 5 _ .3*8

2. 7

4.2

2.3

-0.1

1. 4

0, 5

-4.2

4- 79

5. 8

5.9

3. 2

1. 4

0. 2

l.l

-0.9

-3.3

-2.7

-4.4

-9 .0 -13.9

1 - 80

4.9

5.0

2.4

0.8

-0.4

0.4

-1.5

-3.6

-3.2

-4.7

-8.2

231*6
237*7
230* 7
232*6

-9*8

221*5

-17.8

- 11*2 - l i *9

218*3

-5.7

2-80

2.2

2.1

-0.4

-2.1

-3.4

-3.0

-5.0

-7.2

-7.4

-9 . 2 -12 .7 -16 .0 -18.0

-18.1

-28.8

3-80

1. 4

1. 3

- 1*1

-2.7

-4.0

-3.7

-5.5

-7.5

-7.7

-9 .3 -12.3 -14.8

-16.0

-1 5 .5

-20.0 -10.0

4-80

2.0

1.9

-0.4

-1.8

- 2 .9

-2.5

-4.1

-5.8

-5.8

-7.0

- 9 . 3 - 1 1 .0

- 1 1 .2

-9.5

1- 81

3. 1

3, 0

1 .0

-0.3

-1 .2

-0.7

-2.0

-3.4

-3.2

-4.0

-5 .6

-6.7

-6 .1

-3 .6

2- 81

3.7

3. 7

1. 8

0.7

-o .i

0.4

-0 .7

-1 .9

-1.5

-2.1

-3.4

-4 .1

-3*2

3-76

4-76

1- 77

2-77

3- 77

4-77

1-78

2- 78

3- 78

4-7 8

1- 79

2- 7 9

3- 79




-10.7

200*5
195*3
2 0 0 .5

0 .0

11*1

-3 . 1

7.4

17 . 4

24 . 1

-0 * 5

J£* 5

9 .6

17*0

2 0 .1

16*2

4 -7 9

1 - 80

2-80

3-80

4-60

1- 81

2 1 1 .6
219*7

I N I T I A L QUARTER

PREPARED 6 Y FED ER A L RESERVE BANK O F S T . LO U IS
SEPTEM BER 18* 1901

16

GOVERNMENT PURCHASES OF GOODS ANO S ER V IC ES IN CURRENT DOLLARS
___________________ COMPOUNDED ANNUAL R A TES OF CHANGE______________________
TE RMINAL
QUARTER

IN ITIA L
3 -76

4-76

4 -7 6

8 .9
10.5

11 .4

3-77

4 -77

1 -7 8

2 -7 8

3 -7 8

4 -7 8

2-79

1-79

3 -7 9

4 -7 9

1-80

2 -8 0

3 -8 0

4 -6 0

1-91

9 .2

2-77

2 -7 7

8.6

1 -77

1-77

B I L L I O N S OF
DOLLARS
ANNUAL R A T ES

(3UARTER

3 70 .4
378 *6
13.8

3 9 1 .0

3-77

9 .7

10.0

1 0.5

7.2

4 -7 7

1 0.4

10.8

1 1.4

1 0.2

1 3.2

1-78

9 .5

9.7

9 .8

8 .5

9. 1

3 9 7 .9
4 1 0 .4
5 .3

4 15 .7

2-7 8

9 .5

9 .6

9 .7

8 .7

9.2

7.3

9 .4

3 -78

9 .9

1 0 .1

10.3

9 .6

10.2

9 .2

1 1.2

4 -78

10.2

10.4

10.6

1 0.0

1 0. 6

1 0.0

1 1 .6

1 2.7

1 2.4

1-79

9 .8

9.9

10.0

9 .5

9.9

9 .2

10.2

1 0.5

9 .3

6 .3

2 -79

9.5

9 .5

9 .6

9. 1

9.3

•
0
0

9 .4

9 .4

8 .2

6 .2

3-79

9 .4

9 .5

9 .5

9 .1

9 .3

8.8

9 .4

9 .4

8 .5

7 .2

7 .6

9*2

4 -7 9

1 0 .1

10.3

10.4

10.0

1 0. 3

1 0.0

10.7

10.9

10.5

1 0.0

11.3

13.9

18*9

li.O

1 0 .8

1 1.5

1 1.8

1 1.6

11.5

12.8

1 5 .1

1 8.2

1 1.7

425.1
13.0

4 38 .3
4 51.3
45 8 *2
46 5*1

6 *2

475 *4
496*4

1-80

1 0.6

10.8

1 0.9

1 0.7

2 -80

10.6

10.8

10.9

1 0.7

li.O

1 0 .8

11.4

1 1.5

1 1 .3

1 2.4

14.0

1 5. 6

1 4.0

1 0 .6

3 -80

1 0 .1

1 0 .2

1 0.3

10.0

1 0 .3

10.0

10.5

1 0.6

1 0.3

10.0

1 0.7

11.6

1 2. 2

10.1

6 .6

2 .7

4 -8 0

1 0.7

10.8

10.9

10.7

11*0

10.8

1 1.3

1 1.5

11*4

11*3

12*0

13*0

1 3. 0

1 2.5

10 * 9

1 1.1

2 0 .2

1 -81

10.8

11*0

11*1

10*9

11*2

1 1*0

11*5

11.7

11*6

11*5

1 2.2

13*1

13*7

12*7

1 1.6

1 1 .9

1 6.8

1 3 .4

2 -81

1 0.3

10.4

1 0.4

10. 2

10 .4

10.2

1 0.6

1 0 .7

10*5

10*4

10*8

11 * 4

1 1. 7

10.6

9 *3

8 .9

1 1.1

6 .8

0 .6

3- 7 6

4-76

1- 77

2-77

3- 77

4 -77

1 -7 8

2 -7 8

3 -7 8

4 -78

1 -79

2-79

3 -79

4 -7 9

l-e o

2 -80

3 -80

4 -8 0

1-81

IN ITIA L

5 16 *8

1 7 .5

5 30 *0
5 33 *5
5 58 *6
5 76.5
5 77 .4

QUARTER

GOVERNMENT PURCHASES OF GOODS AND SER VICE S IN 1972 DOLLARS
______________ COMPOUNDED ANNUAL RAT ES OF CHANGE______________________

3— 76

4-7 6

1-77

2-77

4 -76

1.9

2 -7 7

2 .7

3.9

2 .9

3 .8

3 .9

1-78

2 -78

3 -78

4 -7 8

1-79

2-79

3 -7 9

4 -7 9

1 -8 0

2 -8 0

4 -8 0

1 -81

4 .4

3 -77

4 -7 7

0 .3

1 -77

3-77

B I L L I O N S OF
DOLLARS
ANNUAL RAT ES

QUARTER
T
o

IN ITIA L

CD

T ERM IN AL
QUARTER

3 .4

266*2
3 .5

268 *5
2 71 *4
2 7 3 .7

4 -77

2 .9

3 .6

3 .6

3 .2

3.0

1 -7 8

2 .1

2 .5

2 .3

1 .6

0 .7

2-7 8

2 .2

2 .5

2 .3

1.8

1 .3

0 .4

2.5

3 -78

2.6

2 .9

2.8

2 .5

2.3

2.1

4 .0

5 .5

4 -78

2.3

2 .6

2.4

2.1

1.9

1*6

2 .7

2.8

2 7 5 .7
2 7 4 .6

-1 .6

2 7 6 .3
280 .0
0 .1

2 8 0 .1

1-79

2 .2

2.4

2 .2

1.9

1 .7

1*4

2.2

2 .1

0*4

0*7

2-7 9

1.9

2 .1

1.9

1.6

1.4

1.1

1.7

1.4

0*1

0*

1

-0 .4

3-79

1.9

2*0

1*9

1*6

1*3

1.1

1*6

1.4

0 .4

0*5

0 *4

4 -79

2*2

2 .3

2 .2

2 .0

1.9

1.7

2*2

2*2

1.5

1*9

2*2

3*6

6 .1

1-80

2*5

2 .7

2*6

2 .5

2.4

2.3

2*8

2 .8

2 .4

2*8

3 .4

4*7

6.5

6 .9

2 -80

2.5

2 .7

2*6

2 .5

2*4

2 .3

2*8

2.8

2 .4

2*8

3*2

4*1

5 .2

4*7

2*5

3-80

2.0

2.1

2 .0

1 .9

1*7

2 .0

1 .9

1 .5

1*6

1*8

2*2

2*5

1*4

-1 .3

-5 .0

4 -80

2 .0

2. 1

2.1

1 .9

1*8

1 .7

2*0

1*9

1*5

1.7

1*9

2*2

2*5

1.6

-0 .1

-1 * 4

2 .2

l-e i

2*2

2*3

2*3

2. 1

2*0

2.0

2*3

2*2

1.9

2* 1

2*3

2*7

2*9

2 .3

1*2

0 .8

3*8

5 .3

2-81

1*8

1 .9

1*8

1 .6

1 .5

1.4

1.6

1*6

1*2

1.3

1 .4

1*6

1 .7

1.0

-0 * 2

-0 .8

0*6

-0 * 2

-5 .5

3-76

4 -76

1 -77

2-7 7

3 -7 7

4 -7 7

1-78

2 -7 8

3 -78

4 -7 8

1-79

2 -79

3-79

4-79

1-8 0

2 -8 0

3-80

4 -6 0

1-81




1.6

200 .6
2 8 0 .3
2 8 1 .1

1*1

2 8 5 .3
290 .1
29 1* 9
2 8 8 .2
2 89 .8
293 .6
2 89 .5

I N I T I A L QUARTER

PREPARED BY FE D E R A L RESERVE BANK OF S T .
S EP TEM B tR 1 8 , 1981

17

LO U IS

D IS P O S A B LE PERSONAL INCOWE IN CURRENT DOLLARS
_______ COHPOUfOED ANNUAL R A TES OF CHANGE__________
IN ITIA L

te r m in a l

B ILLIO N S Of
DOLLARS
ANNUAL RAT ES

QUARTER

QUART ER
3 -7 6

4 -7 6

1 -77

2 -7 7

3 -7 7

4 -77

1 -7 8

2-78

3-78

4-7 8

1-79

2 -79

3-79

4 -7 9

4 -76
1 -7 7

8*8
9 .8

10.2

1 0.7

11.3

12.6

10.8

1 1 .2

12.1

1 2 .3

10.5

10.8

11 .4

1 1 .2

10.1

9.1

2 -7 8

10.8

1 1 .1

1 1.7

1 1 .6

11.0

10.9

12.8

3 -78

1 1 .0

1 1.3

11.7

1 1.7

1 1 .3

1 1.3

12.4

12.0

4 -7 8

11.3

11.6

1 2.0

12.0

11.8

11.9

12.9

12.9

13.9

1 -79

1 1.5

11 .8

1 2.2

12.2

12.1

12.2

13.0

13.1

1 3 .7

1 3.5

2 -7 9

1 1 .2

11.5

11 .8

1 1 .8

11 .5

11 .6

12.1

1 1 .9

1 1.9

1 1 .0

8 *5

3 -7 9

11.4

1 1 .6

11 . 9

1 1.9

11.8

1 1.8

12.3

12.2

12.3

1 1 .7

10.8

13.3

4 -7 9

1 1.4

1 1 .6

1 1.9

1 1 .9

1 1 .7

11.8

12.2

12.1

12.1

1 1.7

1 1 .1

12.4

11.6

1 -80

1 1 .6

11.8

12.0

1 2 .0

1 1. 9

12.0

12.4

1 2.3

12.4

1 2.1

1 1 .7

12.8

1 2 .5

1 3.5

11.2

U .4

U .4

11*2

11*2

11*4

11.3

11*2

10*7

10 * 2

10*6

9 .8

8.8

1 -81

11.2

1-78

4 -8 0

1 3 .4

4 -7 7

3 -80

11.9

3 -7 7

2 -8 0

8.6

2 -7 7

1 -80

9 .0

1,229.6
1*255.2
1 ,2 9 1 .0
1 * 3 3 2 .1
1*367.8
1*398.0
1 *440.7
1 * 4 8 2 .1
1 *531.0
1*580.3
1*612.8
1*663*8
1 * 7 1 0 .1

1 1 .1
1 1 .2

11.4

1 1 .6

11.5

1 1. 4

U .4

1 1.6

11.5

1 1.4

1 1 .1

1 0.7

1 1 .1

10*6

10.3

8 .7

1 3 .3

1 1.3

11.4

11*6

11*6

11*5

11*5

11*7

11*6

1 1 .6

11*3

11*0

11.4

11.1

10.9

10.1

13.1

1 2.8

1-81

11*3

11*4

11*6

11*6

1 1 .5

11*5

11.7

1 1 .6

11*5

1 1.3

11*0

11.4

11.1

1 1 .0

1 0.4

1 2.4

1 2 .0

11.1

2 -81

1 1 .1

11 .2

U .4

11.4

11*2

±U2

11*4

LI. 3

U

.2

11*0

10.7

n .o

10*6

10*5

9 .9

1 1.3

10.6

9*6

8*0

3 -7 6

4-7 6

1-77

2 -7 7

3 -7 7

4 -7 7

1 -7 8

2 -7 8

3 -78

4 -7 8

1-79

2 -7 9

3-79

4 -7 9

1 -80

2 -80

3 -eo

4 -8 0

1-81

CD
o

2- e o
3-80
*
1

1*765*1

IN ITIA L

4*4

1 * 7 8 4 .1
1,840*6
1 .89 7.0
1 .9 4 7 * 8
1 ,9 8 5 .6

QUARTER

DISPOSABLE PERSONAL INCOME I N 1972 00 1LARS
COMPOUNDED ANNUAL R A T ES Of CHANGE
IN ITIA L

term inal

3 -7 6

4 -7 6

4-7 6

2.0

3 -7 7

4 -77

1- 78

2 -78

3 -78

4 -7 8

1 -79

2 -79

3-79

4-7 9

1-80

2 -8 0

3 -80

4 -80

1-61

1.6

2 -7 7

2-77

2 .5

1 -77

1 -77

B I L L I O N S OF
DOLLARS
ANNUAL RATES

QUARTER

QUARTER

915.1
9 1 8 .7

3.3

3 .6

3 -7 7

5 .7

4 .2

4 .8

6 .5

7 .3

4 -7 7

4. 5

5 .0

6.2

6 .4

5 .5

931 .6
9 48.1
96 0* 9

1-78

4 .2

4 .5

5 .2

5. 1

4 .0

2.5

2 -78

4. 1

4 .4

4 .9

4 .7

3.9

3.1

3*6

3-78

4 .1

4 .4

4 .8

4 .6

4.0

3 .5

4*0

4 .3

4 -7 8

4 .2

4 .4

4 .8

4 .7

4 .2

3.9

4 .3

4 .7

5 .0

1-79

4. 1

4 .3

4 .6

4 .5

4 .0

3.7

4 .0

4 .1

4 .1

966.8
9 7 5 .5
985 .9
998 .0
3.1

1*005.7

2 -7 9

3 .8

3 .9

4 .2

4 .0

3.5

3.2

3.3

3*2

2.9

1*8

0* 5

3 -7 9

3 .7

3 .9

4.1

3 .9

3 .5

3.2

3.3

3*3

3*0

2 .4

2*0

3.5

4-79

3*5

3.6

3 .8

3 .6

3 .2

2.9

3.0

2*9

2*6

2.0

1*6

2.2

1 -80

3 .4

3.4

3 .6

3 .4

3. 0

2 .7

2.8

2*6

2*4

1.8

1*5

1*9

2 -8 0

2 .8

2.8

2.9

2 .7

2.3

1*9

1. 9

1*7

1*3

0 .7

0*2

0*1

1*006.9
1*015*7

0.8

1*017 .7

1*0

1*3

1*0

-1 * 9

-4 *9

1 *0 21 .0
1.008*2

2 .9

2 .9

3 .0

2 .8

2.4

2. 1

2.1

1*9

1*6

1.2

0*8

0*9

0*3

0.

1

-0 * 5

4 .1

A

-

2 .9

2 .9

3 .0

2 .8

2*5

2.2

2.2

2*0

1*8

1.4

1*1

1*2

0.8

0*8

0*6

3*5

2 .9

1-81

2 .9

2 .9

3*0

2*8

2*5

2*3

2*2

2*1

1*9

1*6

1*4

1*5

1*2

1*2

1.2

3.3

2 .9

3 .0

2 -81

2.8

2.8

2.9

2 .7

2. 4

2*2

2*2

2*1

1*8

1*5

1 .4

1. 5

1*2

1*2

2*8

2 .4

2*2

3-7 6

4 -76

1 -77

2 -7 7

3 -77

4 -7 7

1 -7 8

2-78

3 -78

1 -79

2 -7 9

3-79

1 -80

2 -8 0

3 -8 0

o

L

3 -8 0




4 -7

IN ITIA L

8

4 -79

1,018*5
1,025*8

4-80

1 * 0 33.3
1*4

1*036.8

1 -8 1

QUARTER

PREPARED BY fE D E R A L
SEPTEMBER 18* 1981

18

RESER VE BANK OF S T .

LO U IS

CORPORATE P R O F IT S A FT ER T AX ES *
COMPOUNDED ANNUAL R AT ES OF CHANGE
T ER M IN AL
QUARTER

IN ITIA L
3 -7 6

4 -76

1-77

2 -7 7

4-76

21.5
19.9

31.6

19.1

26.5

1 6 .8

2 -7 8

3 -78

1-79

4 -7 8

2 -79

3-79

4 -7 9

1 -60

2 -8 0

3-60

4 —60

1-61

1 6.7

3 -77

1-78

48.3

2 -7 7

4 -77

-0 * 4

1 -7 7

3 -77

B I L L I O N S OF
DOLLARS
ANNUAL RAT ES

QUARTER

1 6.8

1 0 3 .4
114.1
1 1 8 .6
123 .3

4 -7 7

1 5.6

1 9.9

1 1.7

9 .3

2.3

1 -78

13.7

1 6.7

9.9

7 .7

3 .4

2 -78

17.5

2 0.8

15.9

15.7

1 5 .3

22 .4

43.3

3 -7 8

17.5

2 0.3

16.2

16.1

1 5 .9

2 0 .8

2 9 .9

17.7

2 5 .6

3 3 .6

2 9.0

1 2 4 .0
4 .6

1 2 5 .4
137.2
1 4 2 .9

4 -7 8

1 9.9

22.8

1 9.5

19.9

20*6

1 -79

2 0 .4

23.0

2 0.1

2 0 .6

21 *2

2 5.4

3 1 .3

2 7.5

3 2 .7

2 4 .6

2 -7 9

1 8.4

2 0 .4

17.7

1 7.8

1 7 .9

2 0.8

2 4 .3

20 .0

2 0 .7

11.6

0 .0

3 -7 9

1 8.8

2 0.7

1 8.3

1 8 .5

1 8 .7

21*2

2 4.2

2 0 .7

2 1 .5

15.5

11.2

4 -7 9

1 6 .1

17.6

15.2

15.0

14 .8

16.5

1 8.3

1 4.5

13.9

8.0

2 .9

4 .4

-1 1 ,9

1 -B O

17.7

19.2

1 7.0

17. 1

17 .1

1 8.9

20 .8

1 7.9

1 7.9

1 3.7

U*1

15*1

11,0

39.8

2-8Q

9 ,7

1 0.5

9*0

7 .3

6 ,3

6 ,9

7 .2

3 .3

1.4

-4 ,0

-8 .9

-1 1 .0

-2 0 ,3

-2 4 ,1

o>

3 -8 0

11.3

1 2.2

10.0

9 .5

8.9

9 .5

10.0

6 .8

5 .5

1 .2

-2 .2

-2 .7

-8 ,4

-7 ,1

-2 4 .3

3 9 .1

4 -8 0

11.5

1 2.3

1 0.2

9 .8

9 .2

9 .8

1 0.3

7 .5

6 .4

2.7

-0 ,1

-o .i

-4 ,3

-2 ,3

-1 3 .3

2 5 .8

1 -81

11,5

12.3

10*4

9 .9

9,5

10*0

10*5

7*9

7*Q

3,7

1*4

1 ,6

-1*7

0*5

-7 .5

21*2

13,1

1 2 .5

2 -81

8.5

9 .1

7. 1

6 .5

5 .9

6 .1

6.2

3 .6

2 .4

-0 .8

-3 .3

-3 ,7

-7 .1

—6 . 2 - 1 3 . 4

4 .2

-5 .3

-1 3 .6

-3 3 ,7

3 -76

4 -7 6

3 -77

4-7 7

1 -7 8

2 -7 8

3 -78

4 -78

1 -79

2-79

3-79

4 -7 9

2— 80

3 -8 0

4 -8 0

1-81

1-77

2 -7 7

4 1.3

155.8

IN ITIA L
* NATIONAL

164.6
1 6 4 .6
1 7 3 .6

23*7

168 .2
182*9

l-e o

146*5
159,1
13.7

1 6 4 .3
169*2
1 5 2 ,7

QUARTER

INCOME B A S IS

PREPARED BY F E D E R A L RESERVE BANK OF ST*
SEPTEMBER 18 , 1981

SOURCES OF DATA
NATIONAL INCOME AND PRODUCT ACCOUNTS DATA

The D ecem ber 1 9 8 0 S u rv e y o f C u r r e n t B u s in e s s c o n t a i n s an
a r t i c l e d e s c r i b i n g t h e m a j o r a s p e c t s o f t h e r e v i s i o n , summary a n n u a l
e s t i m a t e s f o r 1 9 7 8 and 1 9 7 9 , q u a r t e r l y e s t i m a t e s f o r r e c e n t q u a r t e r s ,
and m o n t h ly e s t i m a t e s f o r O c t o b e r 1 9 7 9 t h r o u g h Novem ber 1 9 8 0 .
N a t i o n a l Incom e and P r o d u c t T a b l e s , 1 9 7 6 - 7 9 , i n a s p e c i a l s u p p le m e n t
t o t h e J u l y 1981 S u r v e y , c o n t a i n s e s t i m a t e s f o r 1 9 7 6 - 7 9 f o r t h e f u l l
s e t o f a n n u a l and s e a s o n a l l y a d j u s t e d q u a r t e r l y and m o n t h l y n a t i o n a l
incom e and p r o d u c t a c c o u n t s ( N IP A ) t a b l e s .
N a t i o n a l Incom e and
P r o d u c t A c c o u n ts o f t h e U n i t e d S t a t e s , 1 9 2 9 - 7 6 :
S t a t is t ic a l ta b le s
c o n ta in s a l l e s tim a te s c o v e rin g e a r l i e r y e a r s .
T h is p u b lic a t io n i s
e x p e c t e d t o be a v a i l a b l e f o r p u r c h a s e fro m t h e S u p e r i n t e n d e n t o f
Docum ents l a t e r i n 1 9 8 1 .
F o r f u r t h e r i n f o r m a t i o n , w r i t e t o t h e N a t i o n a l Incom e and
W e a lth D i v i s i o n ( B E - 5 4 ) B u re a u o f Economic A n a l y s i s , U . S . D e p a r t m e n t
o f Commerce, W a s h i n g t o n , D . C .
20230.
The S u rv e y i s a v a i l a b l e fro m m ost d i s t r i c t o f f i c e s o f t h e
D e p a r t m e n t o f Commerce o r fr o m t h e S u p e r i n t e n d e n t o f D o c u m e n ts , U . S .
G o ve rn m e n t P r i n t i n g O f f i c e , W a s h in g t o n , D .C .
20402.




19

L OU IS

INVENTORIES

COMPARED W I T H MO N T H L Y S A L E S *

MANUFACTURING

1967

1968

1969

1970

197 1 1 9 7 2

1973

1974

AND

1975

* RAT I OS BASED ON SEASONAL L Y ADJUSTED DATA.

TRADE

1976

1977

SOURCE:

1978

1979

1980

1981

U . S . DEPARTMENT OF COMMERCE

SHADED AREAS REP R E S E NT P E R I OD S OF B U S I N E S S R E C E S S I O N S .
L A T E S T DATA P L O T T E D :




J ULY
PREPARED BY FEDERAL

20

RESERVE BANK OF S T .

LOUI S

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