Full text of National Economic Trends : March 1981
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n n n o n m Economic T R t n o s P R E P A R E D MONTH ENDING: B Y F E D E R A L R E S E R V E B A N K F e b ru a ry ^ 1 9 8 1 O F ST. L O U I S RELEASED: M a rc h 3 0 , 1981 The U .S . econom y h a s e x p a n d e d b r i s k l y s i n c e J u l y 1 9 8 0 . In F e b ru a ry , h o w e v e r, t h e r e was some s lo w in g i n a c t i v i t y a s th e g ro w th o f r e t a i l s a l e s and p e r s o n a l in co m e m o d e ra t e d , th e r a t e o f i n c r e a s e i n em ploym ent s lo w e d , and i n d u s t r i a l p r o d u c t io n d e c l i n e d . P r i c e s , on th e o t h e r h a n d , h a v e c o n t in u e d to r is e r a p id ly . The a c c o m p a n y in g t a b l e s u m m a riz e s th e c o u r s e o f l a s t y e a r , sh o w in g r a t e s o f ch a n g e f o r i n d u s t r i a l p r o d u c t io n by m a rk e t g r o u p in g s . The s h a r p d ro p i n p r o d u c t io n fro m F e b r u a r y t o J u l y 1980 w as w id e s p r e a d , w it h th e a u t o m o b ile and c o n s t r u c t i o n s e c t o r s sh o w in g th e l a r g e s t d e c l i n e s . P r o d u c t io n o f home g o o d s ( a p p l i a n c e s , f u r n i t u r e , e t c . ) t e n d s to r e f l e c t t r e n d s i n r e s i d e n t i a l c o n s t r u c t io n . A s u b s t a n t i a l r e c o v e r y i n th e c o n s t r u c t i o n s e c t o r h i g h l i g h t e d th e e x p a n s io n p h a s e fro m J u l y 1 9 8 0 , a s th e p r o d u c t io n o f c o n s t r u c t i o n s u p p l i e s and home g o o d s r o u g h ly o f f s e t th e d e c l i n e s o f th e p r e v io u s f i v e m o n th s. The a u t o m o b ile s e c t o r d id n o t s h a r e i n th e e x p a n s io n , h o w e v e r, a s p r o d u c t io n o f a u t o m o t iv e p r o d u c t s d e c l i n e d f u r t h e r , a lt h o u g h i t showed c o n s i d e r a b l e v a r i a b i l i t y d u r in g th e p e r i o d . F o r th e m onth o f F e b r u a r y , th e d e c l i n e i n t o t a l p r o d u c t io n was w id e s p r e a d b u t g r e a t e s t f o r c o n s t r u c t i o n a c t i v i t y . P r o d u c t io n o f a u t o m o t iv e p r o d u c t s , on th e o t h e r h a n d , i n c r e a s e d , b u t n o t en o ugh to o f f s e t th e e f f e c t o f th e d e c r e a s e i n c o n s t r u c t i o n . IN D U STRIAL PRODUCTION (Com pounded a n n u a l r a t e s o f c h a n g e ) F e b . 79 to F e b . 80 0.1 T o tal C o n su m e r g o o d s D u r a b le s A u t o m o t iv e p r o d u c t s Home g o o d s N o n d u r a b le s E q u ip m e n t I n t e r m e d ia t e p r o d u c t s C o n s t r u c t io n s u p p lie s M a t e r ia ls -2 .2 -1 0 .3 -2 0 .9 -3 .2 1 .4 4 .3 -1 .3 -3 .6 0 .3 F e b . 80 to J u l y 80 % -1 8 .1 % -1 0 .0 -2 4 .8 -2 0 .4 -2 7 .2 -4 .1 -6 .0 -2 0 .7 -3 4 .9 -2 8 .0 J u l y 80 to J a n . 81 1 6 .4 % 7 .8 1 6 .2 -3 .1 2 8 .0 4 .9 9 .3 1 7 .9 3 0 .5 2 7 .0 J a n . 81 to F e b . 81 -5 .4 -7 .1 -9 .9 2 4 .0 -2 2 .9 -6 .2 -2 .4 -1 5 .6 -2 7 .0 -3 .8 X TOTAL CIVILIAN EMPLOYMENT TH O USAN D S IN IT IA L MONTH TERMINAL MONTH OF 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2 - flQ 3-8Q 4-60 5-60 6 - Q O ___ 7 - f lQ ___ f l - 8 J ) ___ 9 - 6 Q 1 Q ~ *Q 11-8 0 PERSO N S L Z - Q Q--- 1 “ « 1 f l- 7 9 _____ - 2 . 8 9-79 1 .5 (S>0 1 0 - 7 9 ____ 0 . 6 _____ 2 * 4 ____- 1 . 1 ___________________________________________ ____________________________________ 11-79 Q .I 1 . 9 ___ - Q . I Q .O 9 7 ,7 8 1 1.1 12-79 9 7 » 7 Qfi 1.2 0 .2 0 .5 4-80 . -0.1 0 .3 - 0 .5 0.2 0 . 5 ___ 1 .3 0 . 4 ___ —0 . 6 ___ - 0 . 5 ___ - 2 . 3 —0 . 4 ___ —0 * 7 ___ - 1 . 7 ___ - 2 . 0 ___ - 3 . 6 5 -Q Q _____ - Q . 2 - 1 . 8 ___ - 2 . 6 ___ - 3 . 1 - 1 .3 - 2 . 3 ___ - 3 . 1 ___ - 3 . 4 - 2 . 7 ___ - 4 . 1___ ^-#Q - 0 .6 - 0 .3 - 1 .0 - 1 .0 - 1 . 3 ____ - 2 . 0 7 - ftO - 0 .3 - 0 .1 - 0 .6 - 0 .6 - 0 .6 W-ftf) —0 . 3 —Q . Q - 0 .6 - 0 .5 - 0 . 7 ____ - 1 . 2 ___ - 1 . 2 ___ - 1 . 7 ___ - 1 . 5 ___ - 0 . 7 ___ - 0 . 5 _____ 1 . 4 9-00 - 0 .1 IQ - ft O - 0 .1 1 1-8Q Q .O 0 .1 0 .1 - 0 .3 - 0 .3 - 0 .3 - 0 .2 - 0 .4 - 0 .3 - Q .8 - 1 .4 - 0 .8 - 1 .1 - 0 .9 - 0 .1 0 .2 1 .7 0.0 1. 1 - 0 . 7 ____ - Q . I ___ - Q . 9 ___ - Q . 7 ___ - Q . Q _____ 0 . 2_____ 1 . 3 -0.5 - 0 .7 - 0 .4 £ . 2 ___ - 0 . 2 ___ - Q . I ____- 0 . 2 , -Q.5 - 0 .7 -0-5 0 .2 SHS ,999 - 2 . 0 ____ - 1 , 9 ___ - 0 * 9 ___ ~ 0 . 7 _____ 2 . 7 0 . 2 ___ - 0 . 2 ___ - 0 . 1 ___ - 0 . 2 ___ - 0 . 5 1-fll 7-79 - 1 .4 0.2 0 .5 1.0 0.6 - Q . I ____-l £W Q___ - Q . 1 1 .4 0. 1 . 6 _____ 1 . 4 Q .6 0 .3 0 .4 0 .3 0 .1 Q .2 0 .1 0 .3 0 .9 1 .1 e-79 9-79 10-79 11-79 12-79 1-60 2-00 3-80 4-80 5-80 l.B 6-80 1 .6 7-80 1 . 9 _____ 1 . 9 _____ 2 . 8-80 9 —8 0 10-80 11-80 12-80 1-61 IN IT IA L HONTH PAYROLL EMPLOYMENT COMPOItNPFO ANEMIA L RATES Of CHA MGF THQLISA K ) S M ONTH _______________ 7 —7 9 ___ ft - 7 9 ___ 9 = 7 9 1& --7 9 11-79 OF PERSO N S 1 2 - 7 9 ___ 1 - 8 Q ___ 2 - 8 0 ___ 3 - flQ ___ 4 - f lQ ___ 5 - 8 0 ___ 6 - fiQ ___ 7 - 8 0 ___ fl- ft O ___ 9 - 8 0 10-80 1 1 - f lQ 1 2 - 8 0 ___ 1 - f l l ______________________ - 1 .5 90.441 90 91 •031 5 -flQ 1 *3 , 1* 2 1 .3 1.1 0.6 Q. 4 0 .3 0 . 1 ___- 0 * 2 1.1 - 0 . 9 ___ = 0 . 4 ___ - 1 * 5 - 2 .5 , 9 Q t4 ^ 8 - 0 . 6 ___ ~ l . f i ___ - 3 . 1 ____—4 * 4 ___ - 6 . 2 ___ ii- f lQ _____ - Q . Q ___ - 0 . 2 ___ —Q . 3 ___ - 0 * 7 ___ - 1 * 0 ___ - 1 . 4 ___ - 2 . 6 ___ - 3 * 7 ___ - 4 . 7 ___ - 5 . 8 ___ - 5 . 4___ 7 - B O _____ - 0 * 2 ___ - 0 . 4___ - 0 . 6 ___ -lO ^fl___ - 1 * 1 ____- 1 . 5 ___ - 2 . 5 ___ - 3 * 4 ___ --4. 1___ - 4 * 7 ___ - 3 . 9 ___ - 2 . 4 0 . 1 ___ - 0 . 1 ____- Q . 2 ___ - 0 . 4 ___ - 0 . 6 ___ - Q . 9 ___ - 1 . 7 - 2 .3 Q . I ____- 0 . 1 ___ - 0 . 2 ___ = 0 * 4 ___ - 1 . 1 ____= 1 * lo^ao 0 .5 Q . 4 _____ 0 * 3 _____ 0 * 2 _____ 0 * 0 ___ - 0 . 5 0 .7 Q.6 0 .5 0 .5 0 .3 - 0 .1 -2.6 - 2 . 6 ___ - 1 . 4 * 7 ___ = 1 * 5 ___ - 0 . 3 -f>- - 0 * 8 ___ - 0 . 5 - 0 .3 - 0 .3 3 .7 0 .7 Q.5 I .Q____ 1-0____ 1.0 __ 0 . 9 7-79 8-79 0.9 0.6 Q.fl 0.5 0.4 Q.5 0 .8 9- 7 9 10-79 11-79 12-79 1-80 2-80 3-80 4— 0 0 1.2____2 .4 3 .4 1 *7 2 .8 3*7 5-80 6-60 7-80 9 1 ,4 9 9 P 8-80 9-80 10-80 11-80 12-60 1-81 INITIAL * O N T H P- PRELIMINARY 2 P R E P A R E O BY FED E R A L R E S E R V E R A W H A R H H 6» 1 9 0 1 __ O F S T. L O U I S EM PLO YM EN T RATIO SCALE RATIO M I L L I ONS OF P E R S O N S 1973 1974 1975 1976 1977 1978 1979 SO UR CE: P ER CEN TA GE S ARE A NN UA L LATEST PLOTTED: DATA RATES OF FEBRUARY C HANGE FOR P E R I O D S 1980 U.S.DEPARTM ENT 1981 OF L AB OR S ’. LOUIS INDICATEO. PRELIMINARY P R EP A RE D BY F E D E R A L UNEMPLOYMENT S E A S ONA L L Y PE R C E N T SCALE ‘ M I L L I ONS OF P E R S O N S SEASONALLY ADJ USTED RESERVE BANK OF RATE ADJ US T E D PER C EN T 11.0 0. 10.( 6.' I. SOURCE: P ER CEN T LATEST OF C I V I L I A N DA TA PLOTTED: U .S . DEPARTMENT OF LA BO R LA BO R FO RC E FEBRUARY PREPARED BY FE D E R A L R ES ER V E BANK OF S . LO U IS 3 CONSUMER P R IC E I MO EX FOR ALL URBAN CO NSO LERS, SEASONALLY A DJUSTED COW>OUNOEO ANNUAL RATES OP CHANGE TERMINAL IN IT IA L M ONTH MONTH ________ 7“ 79._ 9-79 9-79 10-7? 11-79 12-79 1-60 ¿- 6 0 3-90 4-6 0 5-60 6-60 -60 7-8 0 9-00 10—6 0 1 1 —6 0 12-60 1-61 2 2 0 .7 6 - 7 9 _____ I 3 f 4 14*2__ i *>♦1 9-79 2 23 . 3 2 2 3 .7 ___ l 4 t4___ 1 3 1 7 10-79 11-79 1 4 , 1 1 4 , 3 ____1 3 * 9 ____1 4 . 1 12-79 1 4 .3 1 4 .5 2 2 8 .2 1 4 .3 1 4 .6 1 5 .2 2 3 0 .9 1-60 1 4 .9 1 5 *2 1 5 *2 15 *7 1 6 .6 1 6 . 0 _______________ 2 3 4 .1 2-60 1 5 .1 1 5 .4 1 5 .5 1 5 .9 1 6 .5 1 7 .2 2 3 7 .1 1 6 . 5 ____________ 3-60 15♦4 15.7 15 » 1 6 .6 1 7 .3 1 7 .0 1 7 .5 ^— 6 0 1 4 .9 15^1 1 5 ,1 1 5 .3 1 5 ,6 1 5 ,7 1 5 .0 1 4 .2 1U P 5-60 1 4 .5 1 4 .6 1 4 .6 1 4 .7 1 4 .6 1 4 .7 1 3 .9 1 3 .1 1 1 .0 6-80 1 4 .3 1 4 .4 1 4 .3 1 6 .2 1 4 .4 1 4 .5 1 4 .3 JL~3S>_____l ^ t l ___ L 3 , l ___ UfV___ _________ U^l -£0 1 3 .6 ^ 3 ___ 1 2 .9 11»4 1 0 *9 2 4 4 .5 1 1 ,7 2 4 6 .9 1 2 .4 \1 . 4 ___ 1 0 * 4 _____6 * 7_____0 . 0 _____6 . 6 8.4 2 4 7 .1 7 .6 5 .2 9 .6 7 .8 1 1 .4 2 4 9 .0 t 5____1 2 , 3 9-60 1 2 *9 16 10-60 12*? 12* ? ____ 1 2 * 7 12*fr 1 2 * ? ____ 11-60 1 3 .Q 1 3 .0 1 2 .8 1 2 .7 1 2 .6 1 2 .4 1 1 .9 1 1 .3 1 0 .6 1 0 .5 1 0 .5 1 0 .1 1 2 .5 1 3 .5 1 3 .6 1 4 . 0 ____ 2 5 7 .0 12-60 1 2 .9 1 2 .9 1 2 .8 1 2 .7 1 2 .6 1 2 .4 1 1 .9 1 1 .4 1 0 .6 1 0 .8 1 0 .7 1 0 .5 1 2 .5 1 3 .2 1 3 .2 1 3 . 2 ____ 1 2 ._ 3 ._ _ 2 5 9 .5 1-81 1 2 .7 1 2 .7 1 2 .5 1 2 .5 1 2 .3 1 2 .1 1 1 .7 1 1 .2 1 0 .6 1 0 .6 1 0 .5 1 0 .3 1 1 .9 1 2 .4 1 2 .1 1 1 .6 2-61 1 2 , 9 ____\ Z , 7 1 2 .7 7-79 12 \ 2 . 0 ____1 1 . 2 ____1 0 . 3 8 .9 1 2 * 9 ____1 2 , 6 ____ 1 2 , 6 ____U U , 4 ___ 1 2 , 1 ____ 1 1 . 4 \Z±1___ H r * 1 0 t 7_____ 9 . 6 _____ 9 , 4 _____ 9 y 0 1 2 .7 1 2 .5 1 2 .4 1 2 .3 1 2 .1 1 1 .7 1 1 .3 1 0 .8 1 0 .7 8-79 9-79 10-79 11-79 12-79 1-60 2-60 3-60 4-60 IN IT IA L *R E V I SED FR O M 9 .1 U , 0 ____ 1 0 . 1 ___ 1 0 . 0_____9 . 0 251 .6 1 3 .3 1 2 .0 1 3 .2 2 5 4 .2 1 3 .1 1 0 .7 1 0 .7 1 0 .5 1 1 .9 1 2 .3 1 2 .1 1 1 .9 1 1 .2 1 0 .6 1 2 .1 5-6 0 6-80 7-60 8-60 9-60 10-60 11-60 12-60 1-61 M ONTH 1967. PR EPA R ED BY FED ER A L MARCH 2 4 , 1961 PRO D U C ER 16. 6 2 6 1 .4 9 . 1 ___________ P R IC E IN D E X , F IN IS H E D tO O O S - SEASO N ALLY RESERVE BA ** OF ST. L O U IS A D JU S T E D 22.2 1 5 . 6 ____L J _ . 9 ____1 3 aJZ 1 6 . 3 ____1 7 . 9 ____1 5 . 7 ____1 7 . 1 5 . 0 ____1 5 . 1 3 .7 13. 9 .9 1-8 0 1 6 . J ____ 1 7 . 0 ____1 5 . 7 ____1 6 . 3 ____1 5 . 6 ___ 2 1 . 7 __________ 2-B O 1 6 . 2 ____1 7 . 0 ____1 6 . Q____1 6 . 5 ____1 6 . 1 ____1 9 . 4 ___ 1 7 . 1 14. 14 . 5 13,»5 13 . 5 12. 8 I 3.>4 1 1. 4 9.6 7.5 5 _ 3 - 6 0 ______1 5 . 9 , 13, . 8 14 . 0 1 3, , ? 1 3. 1 12.5 1 ? . ,9 1 1. 2 9. 8 8.4 7-ftO 14..5 14 14 . 1 13.7 1 4- ,2 13.0 1 2.2 1 1.6 6- 60 1 4 - .6 14. 9 14.3 13.9 14. »4 13.4 12.8 1 2 . 5 ___ : i 5-60 .0 1 4 , >2 7.9 10.3 1 9 . 0 ____1 5 . 5 1 3 . 3 ____ 1 3 . 2 ____1 2 . 6 ____1 3 . 1 ____ 1 2 . 1 I 1 . 4 ____1 1 .Q ____1 1 . 3 ____1 2 . 7____1 3 . 5 _____ 9 . 3 1 3 . 6 ____ 1 3 .2 1 3 . 1 ____1 2 . 7 13. Q 1 2 .1 1 1 .5 1 1 -a Q 1 3 .1 1 2 . 6 1 2 .5 1 ? .3 1 1 .4 1 Q .B 12-6 0 1 2 . 7 ____L 2 . 8 ____ 1 2 . 2 ____1 2 . 0 ____1 1 . 6 ___ 1 1 . 8 ____1 0 . 9 ____1 0 . 3 _io-ao ■ lr il 2-81 . 1 ^ .2 12 . 1 11 - I 1 1 . 4 ____1 2 . 6 ____1 3 . 2 ____1 0 . 2 9 .9 1 0 . Q___ 1 0 . 6 1 0 .6 1 1 .6 1 1 .7 1Q. 9 10. 3 1 0. 0 1Q.1___ 1 0 .6 1 0 .7 12.5___12.5___1 2 . 0 ___1 1 . 9 __ 1 1 . 5 11.6 10.9 10.4 10. 0 ___10.1___1 0 . 6 __ 1 0 . 7 ____9 . 0 ____6 . 0 12-79 1-6 0 2-60 3—80 12. 6 7-79 1 2 .6 ___12.1 8-79 9-79 1 2 .0 10-79 11-79 4-6 0 I NI TI AL 5-60 6-60 7-60 8-60 9.0 R .? 1Q . 7 . 2____ 9 . 0 1 0 .7 1 0 .7 12-60 1-61 9—6 0 10-60 11-60 MONTH PREPARED BY FEDERAL RE S E R V E frAi * OF S T . L OU I S RATI O SCALE P R I C E S 1967-100 C P I- U RATI O SEASONALLY ADJUSTED FOR ALL URBAN CONSUMERS PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PE R IO D S » R E V IS E D FROM 1967 LATEST DATA PLO TTED. IN DICATED FEBRUARY PREPARED RATI O SCALE 1967-100 SCALE PRODUCER PRICES 1967-100 SEASONALLY ADJUSTED PERC ENTAG ES ARE ANNUAL RATES Of CWAH«£ FO* P E R I0 0 3 LATEST BY FED ERAL DATA PLO TTED. R ESER V E BANK OF < LOU I i RATI O SCALE 1967-100 IN D IC A TED . FEBRUARY PREPAREO BY F ID f W RESERVE BANK OF SI. LOUIS 5 PRODUCER PRICE INDEX, FINISHED CONSUMER FOODS - SEASONALLY AOJUSTED ______________ COMPOUNDED ANNUAL RATES Of CHANGE__________________ _LQ=22_ 8 * 5 ___1_0*6_ _ll= 2 9 _ 12*0__ 14*6__ 11*0__ 23*Z. 12-79 10*7__ 12*4____9 .2 ___14*2_ 1-80 6 .6 __ -Q .B__ -7*0 3 .7 1*1 3 .a____3 .a —7-7 - ¿* 7 -¿>*3 J ) Afl -0*9 2*4 1*3__ -2*6__ -4*6 __ - 3 *7... -7.3 -14.9 1*6____ L*3__ -1*3__ -2*7__ -1*5____0*2__ -5*3 3*3 1*4 6*2 2«5__ -Q* 1 6-ao 7*6 7*2 5*4 9 .9 l . a ___ - 7-6 10*6__ 10*2__ 20*2__ 2A*3__ 54*0- 8*5 8*9 11*3 14.6___15*2 o—An 9 .4 9.7 A.ft 9 .6 Ar•3 8*6 10*7 13*4 13*7 20*4 24*5 31*0 9*6__ 10.0 ¿4 *2 __ 31*2__ 45*3__ 37*0 20*a 6*5 748 .3 1<%—Af) 9 .3 9*7 8*7 9*5_ a, 8*6 10*5 1 7.8 12*9 U B .4 21*1 25 .0 16*6 7*5 8*5 1 1-80 8.8 9*1 8*2 8*9 7,.7 7*9 9*5 11*5 11*4 15.8 17* 6 19*9 12*6 5*5 4 .9 1*4 1 7-an 8*3 7 .7 8. 3 7, 7*3 8 .7 1 0*4 10*2 13.8 15*1 16*5 10.2 4 .3 3*6 1 .2 2*8 1.0 1-81 7*9 8*6 8*1 7-81 7.1 7.7 7-79 8-79 9*4 7*2 7*7 6 .7 6*8 8*0 A .4 6 .8 5,•a 5.8 6*8 8.0 9-79 10-79 11- 79 12-79 i- e o 2-60 9*2 12.2 13.1 14.1 8 .5 3 .5 7 .7 10*2 io * a _1 1 *3 6 .7 1 4-60 5-60 3-60 6-80 7-60 -fl 8-60 250*5 1*00*7 0 .5 250*6 -3*1 - 6 .5 9-60 10-80 11-60 12-80 1-61 0*9— -1*0 IN IT IA L MONTH PRODUCER PR IC E I » E X , FIN ISH ED COOOS, EXCLUDING FOOOS - SEASONALLY ADJUSTED ___________________________ COMPOUNDEDANN UAL RATES OF CHANCE______________________________ MONTH ---------7-79— B-79__ 9-79 10-79 11-79 12-79__ 1-60__ 2-flQ__ 3-flfl__ 4-60 5-60 6-80 7-60 8-60 9-60 10-80 11-60 12-60 1-81 a-79____13.7 9-79____ 18.1___22.6 10-79____ IA mA__ 20*B__ 18*9 223*0 227*8 1-B O 19*2__ 2X1*3___19*7__ 20*0__ 22*3__ 3 3 * i___ 2-8 0 20*1__ 21-2__ 20*9 2 1 .4 23*4 29*7 -Jt-ftO____ 1 7 . 0 ___1 7 * 3 ___1 6 * 8 ___1 6 * 6 ___1 6 * 7 25*8 17*4 14.9 1 2 * 9 ___L 2 * 3 ___1 0 * 2 ___1 2 . 6 __ 1 3 . 9 ___ 1 6 * 1 ___1 5 * a ___1 5 * B ___1 6 . 4 14*0 1 2 . 2 ___1 1 * 6 ____ 9 * 9 ___1 1 * 4 ___1 1 * 4 ____ 9 * 0 . 9 - 8 0 ____ 1 5 * 3 ___1 5 * 5 ___1 4 * 9 ___1 4 . 5 ___1 4 * 4 ___1 4 * 7 12.5 1 0 * 7 ___1 0 * 0 ____ a * 4 ____ 9 * 1 ____ 8 * 3 5*6 10— 80 15*2__ 15*3__ 1 4 .fl__ 14*4__ 14*3__ 14*6 1 2 .6 11*1___LQ*5____9*2__ 10*0 8*2 7*9 13*6 1 1 - f lO 14.7_14.7 14.2__11* -8 *9 ____ 9 *4 ____9 *1 ____ 7 * 9 7 .5 1 0 .1 _a-flO____ 1 6 * 4 ___L 6 * 6 12— 80 13*7_13*9 12.0 10*6__10*1 9*8 1 4 * 2 __ 1 4 * 3 __ 1 3 * 7 __ 1 3 . 4 __ L 3 * 2 __ 1 3 * 3 11.6 10*3 9*6 250*2 fl*7 9*2 a . a 1-fll___ 14*3__14.3__13*a __13*4__13*3_13*4 11*9_10*7_10*3__ 1*3__ 9*6__ **6__ a . 9 252*0 255*? 6*8 7*6__ 9*3 . 7*3 7*7. 8*9 10*6 9*6 11*0 14*3 25fl .2 -2— 81___14*4__14*4__13.9__13*6__13*5__13.6 12*2__11*1__LO*B__10*0_10*5__10*4__ 9.9 10*1 11*7 11*2 12*7 7-79 8-79 9 -7 9 10-79 11-79 12-79 1-60 2-80 3-80 4 -6 0 5-60 6-60 7 -6 0 6 -6 0 9 -6 0 10-60 11-60 12-60 1^-61 INITIAL MONTH PREPAREO BY FEDERAL RESERVE ¿Am OF ST* LOUIS MARCH 6, 1^1 INDUSTRIAL RATIO PRODUCTION SCALE RATIO I 967-100 160 SCALE 1967-100 160 SEASONALLY ADJ USTED +0. 5X I 55 I 50 O. UX/ / ~ I 45 / / I 140 I 55 1SO, 8 % / J . oxJ I 50 1 45 -1 5. 5ft, 1 40 +5. t 4./Ì ?r —A-- , 135 2 I 30 / ^ 135 130 (\y 25 125 + 16. IXj/ 120 I20 " C(Q. C 15 I I5 1 10 10 I 05 -¡5 * _ V,fc, t > Ì 1\ § t I00 1973 t 1974 t 1975 ;^ __ J 1___ t t ♦ 1977 1976 P E R C E N T A G E S ARE A NNUAL R A T E S OF CHA N G E FOR P E R I O D S L A T E S T DAT A PLOTTEDt ?> * 1979 1978 ? - 105 $ t 1980 100 1981 INDICATED. F E B R U A R Y PR E L I M I N A R Y P R E P A R E D BY F E D E R A L R E S E R V E B ANK OF ST. LOU IS IN D U S T R IA L C O M P O U N D E D AN N U A L 8-79 —6 . 8 9-79 - 1 .2 4 .8 10-79 - 0 .8 2 .4 9-79 1 8-79 0 7-79 < in it ia l 11-79 12-79 1-80 2-80 3-80 p r o o u c t io n RATES Of CHANGE 1967 m onth 4-80 5-80 6-80 7-8 0 8-80 9-8 0 * 100 10 1 — 1 5 2 .1 152 .7 0.0 1 5 2 .7 11 —T V - 1 .4 0 .5 - 1 .6 12-79 - 0 .8 0.8 - 0 .5 - 0 .8 1-80 - 0 .4 0 .9 2-80 - C .4 0 .7 —0 . 2 - 0 .2 3-80 -c-.s 0.0 - 0 .8 - 0 .9 4-80 -4. I - 3 .7 - 4 .9 - 5 .7 -6 . 2 - 8 .0 -1 1 .0 - 1 5 .8 - 2 6 .2 o CO ( ir\ - 7 .0 - 7 .0 - 8 .4 - 9 .6 - 1 0 .6 - 1 2 .9 - 1 6 .1 - 2 0 .7 -2 8 .0 -2 9 . 7 6— 80 -8.2 - Ö .3 - 9 .7 -10.8 - 11. a - 1 3 .9 - 1 6 .7 - 2 0 .3 -2 5 .1 - 2 4 .5 - 1 9 .0 7-80 -8.2 - 8 .4 - 9 .6 - 1 0 .6 - 1 1 .5 - 1 3 .2 - 1 5 .5 - 1 8 .1 - 2 1 .3 - 1 9 .7 -14. 1 8-80 — 6# 8 - 6 .8 - 7 .8 - 8 .5 - 9 . 1 - 1 0 .3 -1 1 .9 - 1 3 .7 - 1 5 .5 - 1 2 .6 - 6 .0 9-80 - 5 .0 - 4 .9 - 5 .6 -6. 1 - 6 .4 - 7 .3 - 8 .3 - 9 .4 - 1 0 .2 - 6 .7 0.2 10-80 - 3 .2 - 2 .9 - 3 .5 - 3 .8 - 3 .9 —4 . 4 - 5 .0 - 5 .6 - 5 .8 - 1 .9 11-80 -1.8 - 1 .4 - 1 .9 - 2 .0 - 1 .9 - 2 .2 —2 . 6 - 2 .8 - 2 .7 - 1 .0 - 0 .6 - 0 .9 —1 . C - 0 .8 - 1 .0 - 1 .3 - 1 .3 - 1 .1 - 0 .7 —0 . 3 - 0 .6 - 0 .6 - 0 .5 - 0 .6 - 0 .8 - 0 .8 - 0 .5 - 0 .9 - 0 .6 - 0 .9 - 0 .9 - 0 .8 - 1 .0 - 1 .1 - 1 .2 8-79 9-79 10-79 11-79 12-79 1-80 2-80 - 3 .1 1 5 2 .3 1.6 0.0 0.0 1.6 1.6 0.8 - 0 .4 152 .5 1 5 2 .7 0 .4 - 0 .8 - 1 .0 - 2 .3 - 3 .9 14 1 . 5 - 8 .9 1 .3 12.6 7 .6 1 6 .9 2 1 .3 4 .9 1 1 .9 1 9 .8 2 3 .6 2 6 .0 1 .3 7 .6 1 3 .9 2 0 .5 2 3 .2 2 4 .2 22 2 .6 8 .* 1 3 .7 1 8 .9 2 0 .5 2 0 .3 1 7 *5 1 2 *7 279 77? 1 2 .4 1 6 .4 1 7 .2 1 6 .2 1 3 .1 8 W 4 .9 - 0 .9 2 .0 6 .3 1 0 .0 1 3 .0 1 3 .1 1 1 .5 8 .2 3 .8 - 0 .4 - 5 .4 3-80 4-8 0 5-60 6-80 7-80 8-80 9-80 10-80 11-80 12-80 1-81 1 4 1 .8 1 4 4 .1 149 .4 , 1 5 1 .5 P INITIAL MONTH P- PRELIMINARY P R E P A R E D B Y F E O E R A L R E S E R V E B A N K O F ST. L O U I S M A R C H 17, 1981 7 P E R S O N A L RATIO SCALE TRILLIONS I N C O M E MONTHLY TOTALS AT ANNUAL RATES OF DOLLARS RATIO TRILLIONS SEASONALLY ADJ USTED OF SCALE DOLL ARS ). 1973 1974 1975 1976 1977 1978 1979 1980 1981 SOURCE: U.S. D E P A R T M E N T OF C O M M E R C E P E R C E N T A G E S ARE A N N U A L R A T E S OF C H A N G E FOR P E R I O O S IN0ICATEO. L A T E S T OAT A PLOTT E O : F E B R U A R Y P R E L I M I N A R Y P R E P A R E D BY FE D E R A L R E S E R V E BAN K OF S . LO I R S PERSONAL INC086 COMPOUNDED ANNUAL RATES OF CHANGE B I LLIO N S Of OOLLARS ANNUAL RATES IN IT IA L MONTH 7 -7 9 a - 79 9 — 79 8 -7 9 9 -7 9 1 0 -7 9 1 1 -7 9 1 2 -7 9 1 -8 0 2 -8 0 3 -8 0 1 0 .9 5—8 0 6 -8 0 7 -0 0 8 -8 0 9 -8 0 1 0 -0 0 1 1 -0 0 1 2 -0 0 1 -0 1 1 # 9 7 4 .0 873 1* 90 7 .9 2 * 0 1 1 .3 1 0 -7 9 1 2 .3 1 1 .6 1 5 .1 1 1 -7 9 1 2 .6 1 2 .3 1 4 .3 1 3 .5 1 2 -7 9 1 2 .4 1 2 .2 1 3 .5 1 2 .7 1 1 .9 1 -8 0 1 3 .0 1 2 .9 1 4 .1 1 3 .8 1 3 .9 2*032 .7 2 * 0 5 1 .0 1 5 .9 2 * 07 7 .2 2 * 0 0 6 .4 2 -8 0 1 1 .9 1 1 .6 1 2 .3 1 1 .6 1 1 .0 1 0 .6 5 .4 3 -8 0 1 1 .5 1 1 .2 1 1 .7 1 1 .0 1 0 .4 9 .9 7 .1 8 .7 4 -8 0 1 0 .2 9 .8 1 0 .0 9 .2 8 .4 7 .5 4 .9 4 .6 7 .4 5 .4 5 .4 3 .8 5-8 0 4 -8 0 13*5 9 .9 9 .5 9 .7 8 .9 8*2 2 * 1 0 1 .0 2 * 1 0 2 .1 0 .6 2 * 11 4 .1 7 .1 2 * 12 7 .1 6 -8 0 9 .7 9 .3 9 .4 8 .8 8 .1 7 .5 5 .9 6 .0 5 .1 7 .4 7 .6 7-80 1 0 .6 1 0 .3 1 0 .6 1 0 .1 9 .6 9 .3 8 .3 8 .8 8 .8 1 1 .7 1 4 .1 2 1 .0 9 .7 9 .5 6 .6 9 .1 9 .2 1 1 .4 1 2 .9 1 5 .7 2 * 1 6 1 .2 2 * 1 7 9 .4 1 0 .6 8 -8 0 1 0 .6 1 0 .4 1 0 .6 1 0 .1 9 -8 0 1 0 .9 1 0 .7 1 1 .0 1 0 .6 1 0 .3 1 0 .1 9 .4 1 0 .0 1 0 .2 1 2 .2 1 3 .6 1 5 .6 1 3 .0 1 5 .5 1 0 -8 0 11*3 1 1 .2 1 1 .4 1 1 .1 1 0 .9 1 0 .8 1 0 .2 1 0 .8 1 1 .1 1 3 .0 1 4 .2 1 5 .9 1 4 .2 1 6 .1 1 6 .7 1 1 -8 0 1 1 .4 1 1 .3 1 1 .5 1 1 .3 1 1 .1 1 1 .0 1 0 .5 1 1 .1 1 1 .4 1 3 .0 1 4 .0 1 5 .4 1 4 .0 1 5 .1 1 5 .0 2 * 2 0 5 .7 2 * 2 3 4 .3 2 * 2 5 7 .6 1 3 .3 1 0 . iT 1 2 -8 0 1 1 .4 1 1 .3 1 1 .5 1 1 .2 1 1 .0 1 1 .0 1 0 .5 1 1 .0 1 1 .3 1 2 .7 1 3 .5 1 4 .6 1 3 .3 1 4 .0 1 3 .5 "1 1 .9 1 -81 1 1 .4 1 1 .3 1 1 .5 1 1 .3 1 1 .1 11*1 1 0 .7 1 1 .2 1 1 .4 1 2 .7 1 3 .4 1 4 .2 1 3 .1 1 3 .7 1 3 .2 1 2 .1 1 1 .5 1 2 .4 2 -8 1 1 1 .3 11*1 1 1 .3 1 1 .1 1 0 .9 1 0 .8 1 0 .5 1 0 .9 1 1 .1 1 2 .2 1 2 .8 1 3 .4 1 2 .4 1 2 .7 1 2 .2 1 1 .0 1 0 .3 1 0 .2 7-7< * _ * -? ? 9 -7 9 1 0 -7 9 1 1 -7 9 1 2 -7 9 2 -W ? -0 Q 4 -0 0 0 -0 0 9 -0 0 1 0 -0 0 1 1 -0 0 1 2 -0 0 IN IT IA L -& 70Q 2 * 2 7 6 .6 2 * 2 9 8 .0 0 .1 2 * 3 1 3 .7 P -k-9.k MONTH P- PRELIMINARY PREPA RED BY F 6 P E R A L R E S E R V E BAM. QF S T . L O U IS MARCH 17« 1901 8 RETAIL RATIO SALES * SCALE 1973 RATIO 1974 1975 1976 1977 1978 SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S 1979 U .S . 1980 SCALE 1981 DEPARTMENT OF COMMERCE INDICATED. LATEST DATA PLOTTED: JANUARY, FEBRUARY ADVANCE ESTIM ATE * R EV ISED FROM JU L Y 1979 (1 9 7 1 -JUN E 1979 HOT A VA ILA BLE AT T H IS T IM E ) PREPARED BY FEDERAL RESERVE BANK OF ST. LO U IS R ET A IL SA LES* COMPOUNDED ANNUAL RATES OF CHANGE MILLIONS OF 75 >623 76*428 _L?_*5_ 11=79____11*5____7*2 1,0 77,475 a . 5___ a ,6 11 >1___17»* __ 22 .2 78*899 6 .9 4*5 2*1 3 *.7____2*6 -4=flû_____ ________L*6__ - 0 .9 __ - 0 .1 —2*9____CL*6__ - 1 .6 - 1 .0 « 1 .7 77,603 0 * 7 - 1 3 .9 = 1 8 .0 -4 .1 —1 5*0 —1 7 .5 -1 7 .0 __ 75*975 -2 .5 __ - 4 .6 -1 2 .9 -1 4 .0 -1 1 .9 __ -6*5__ 6=80 79,491 -7*0____ 5*6____4*2____ 5*4____5*0____4*5__ -Q .2____ l* fi____7*5___17.2__ 3JL*2__ 2A *6_ 1A—Ali 7*A 6*7 ■i-7 6*7 6 .S A-3 \ .4 itl A+9 1V 4 1A .* 1A . 7 n .o 10 . a 1 3 .7 1 4 .8 15.6 12*9 15 .6 17.1 fil «552 19*4 6 .6 10.1 1 4 .7 a+6 7 .7 6 .A 7 .A 7 .A 7 .7 * .3 7r O 10.7 14.1 1 7 .4 14.9 1 2 .3 14*2 1 4 .0 1 4 .7 IQ * 3 1—Al 10.1 9 .7 A .6 9 .6 9 .7 9. A 7 .7 9 .« 1 7 .7 16 .6 19. A 1A.0 16*3 18 .6 2 0 .2 22*1 23*4 2-111 10.3 9 .5 9 9. a 9 .9 1 0 .0 A. 7 9.A 1 7 .7 1 6 .3 19.1 1 7 .4 1 5 .9 17.6 1 6 .6 _ Z 5 .l 1 3 .4 7-79 8-79 9-79 10-79 11—79 12-79 1-60 2-60 3-60 4-60 5-60 6-60 7-60 6-60 9-60 10-60 11—60 12-60 1-61 1 a. »R EV ISED 65.720P 36*1 86.622E IN IT IA L MOHTH P - P R E L IM IN A R Y PREPARED BY 9 FEDERAL RESERVE BAI* OF ST* LOUIS O U T P U T P E R H O U R OF ALL P E R S O N S # P R I V A T E BUSINESS SECTOR 1 9 7 7 - 100 QUARTER 1-7 6 ----2 -7 6 ___1 -7 6 ___4 - 7 6 ___ I =72___2 -7 7 ___3 -7 7 ___4 - 7 7 ___1-7 8___2 -7 fl___3 -7 8 4 -7 8 1 -7 9 2 -7 9 3 - 7 9 __ 4 - 7 9 ___1-flO ___________ 3~flO 1 .7 1 .4 1 *2 1 . 1______CU tì_____ 0 . 4 2*3 _ ¿ . 5 _____ 1*7 _____________ 3 * 1_____ 5 , 8 1 .9 2 , 7 ___- Q , 4 _ 100.7 2 ,3 1 ,7 1 . 1 1,8 _ 1 , 6 ___- 2 . 0 2,1 1 . 1 _______ U Z 1 . _____ 1 1.0 0 . 3 ___ - 2 . 2 ___ —2 . 4 _ 99 .9 L^J_1 . 2 L I 0 . 5 ___- 0 . 7 n .Q Q . 3 ___ - 0 . 6 ___ - Q . 3 1 -_ZS - 0 . 2 ___ - 0 . 7 ___ —0 . 4 - 0 . 7 _____ Q . 7 0.6 2-79 0.0- - 0 . 1 ___-O.fc___— Q . 4 - Q .4 . 0 . 1 ___- Q . 3 ___n O . Ò __ - Q . a Q .O ___ —0 . 3 ___ —Q . 5___ —0 . 6 ___ —0 * 4 3-79 Q .fa _____ C U 5 _____ 0 ^ 4 0 .4__ -0 .1 ___-0 ,1 __ - 0 .7 __ -Q.fa__ - 0 .3 __ —Q.6__ - 0 .8 __ - 0 .9 4-7 9 0 . 5 _____ t U 4 _____ 0 . 3 Q.3__ -0 ,2 __ -0 ,2 __ -Q .ft -Q.fa -Q .3 Q .4 -Q.4 -Q .2__ - 0 .3 __ -0 .5 __ - 0 .5 ___-Q .4 1-fto 2-HC l Q.7__ - 0 .2 —0,2 __ -Q .7__ —Q. fa 0 .3 __ -0 .1 -0 .1___-0 .5 __ —Q .4__ - 0 .2 0.1 1-76 2-76 3-76 - 0 . 1 ____-.0 . 0 ___ - Q .f a 4-76 -1 ,0 -Q.fa__ - Q . a __ - 0 .9 __ -0-9 -1.6 - 1,2 ___- Q , a _ -Q .4__ -Q.fa__ - 0 .7 __ =Q,7__ - 0 .7 __ -Q .fl - 0 .5 __ - 0 ,4 __ - 2 .0 0 ,3 __ —0 .7 -Q .3__ - 0 .4 __ - 0 .4 __ =£U3__ - 0 .3 - 0 .3 __ - 0 .3 __ - 0 .7 -0.6 -0 .4 __ - 0 .6 __ -0 .7 __ - 0 .7 __ - 0 .7 __ -0 .7 __ - 0 .6 __ -0 .5 1-77 4-77 1-78 2-77 3-77 2-78 IN IT IA L 3-70 4-78 1-79 2-79 3-79 4-79 99 m2 ■1.1___- 0 . 6 ___- 2 a 1-60 2-00 3-60 Q UARTER PREPA REO BY FÉD ÉRA L RESERVE BANK OF ST. ■n o # c H O U R L Y C O M P E N S A T IO N , P R I V A T E B U S I N E S S S E C T O R ________ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E _____________ TERMINAL IN IT IA L 1977 - 100 Q UARTER Q UARTER 1 - 7 6 ___ 2 - I t , ___ 3 - 7 6 ___ 4 - 7 6 ____I - I I ____2 - 7 7___ 3 - 7 7 ___ 1 - J J ____L - 7 6 ___ 2 - JZ fl___ 3 - 7 f l ___ 4 - 7 f l____1 - 7 9 ___ 2 - 7 9 ___ 3 - 7 9 ___ 4 - 7 9 ____1 - f lQ ___ 2 - t t f l___ 3 - f lQ 97.1 a . 4____ a . 4 1 = 79 _ a .2 __ a . 2 a . 6_____ tU Jb _____ 8 . 5 8 . fa ft.fa 8 . 9 _____ 8 . 6 9 .1 9 . 5 ____1 0 . 0 ____1 Q . 5 ____1 1 . 6 9 . 0 _____ 9 . 1 9 . 5 _____ 9 ^ Z _____ 9 ^ a _____ 9 . 9 _ a ^ a _____ 9 . 0 9 .4 ft.7 1Q.1 9 .9 1 0 .3 ___ L I . 2___1 2 .3 9 .9 ___1 0 .0 ___ 1 0 .2 ___ 1 0 .3 ___ 10 .1 9 .9 1Q .2___1Q.B___1 1 .1 9 .7 9, a___10,2 __ 10,2 9 .7 9 .9 9 . a___ 1 0 .0 ___ 1 0 .2 ___1 0 .3 9 .9 ___1 0 .0 1-76 2 -7 6 3 -7 6 4 -7 6 1 -7 7 2 -7 7 3 -7 7 4 -7 7 1-78 2 -7 8 3 -7 8 INITIAL QUARTER 10 9 . 3 __ 1 Û . 1 1Q.Q 1 0 .Q 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 PRODUCTIVITY, RATIO COMPENSATION, AND LABOR COSTS SCALF RATIO 1977 -1 0 0 1973 SEA SO N A LLY 1974 1975 1976 A D JU S T E D 1977 SCALE 197 7 - 1 0 0 1978 1979 1980 1981 SOURCE! U DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED, i ATEST DATA PLOTTED. 4TH QUARTER PREPARED BY FEDERAL RESERVE BANK OF ! LOUI! U N IT LA BO R C O S T S , P R IV A T E B U S IN E S S SEC T O R ________ C O M P O U N D E D A N N U A L R A T E S O f C H A N G E __________ IN IT IA L Q UARTER 1 - 7 6 ___2 - 7 6___1=26 ___4 - 2 6 ___ 1=22___2 -11 __ 3 - 7 7___4 - 7 7 ___ l - 7 f l ___2=ZS__ ________ 4 - 7 6 ___ 1 - 7 3 ___2 r l9 ___3 - 7 9 __ 4 - 7 9 ___ 1- flQ ___2 - 8 0 __ 3 - f l Q 6 .7 1m 0____ 7 . 4 7 .3 7 . to 7.7 -97 «7 5 . 4 _____ 4 . 4 1QQ«2 5 * 7 ____ 5 , 1 ___1 0 , 6 ___1 2 , 2 7 .9 6 ,9 Ifl7 «3 9 .0 _____7 . 4 6 ,7 ____ 7-^Q 7 .6 _____1^2_____9 ^ _____9 .2 9 ,1 ___ 1 Qa 2 _ 8 . 3 _____ 9 . 4 . . J.fl 1 0 9 .4 7 ,7 _____6 .1 ____ 9 ^ ___ 1 Q . Q 9 .5 9 , 1 ____1 Q .1 ____ L £ U 2 _____ 9 . 6 ____1 0 , 4 ___ 1 1 . 2 ___ L U 8.2 . a , a.. 6,6 9 .9 in .4 1 1 .0 9 .3 9 .8 1 0 .2 1 0 . 7 ____1 Q .6 ____L Q . 3 9 .8 1 0 *1 1 0 .5 1 0 *0 10-1 1 0 .5 1 0 .7 1 0 .1 1 0 .2 9 ,5 1 2 4 .2 9 .7 1 2 7 .0 9 .4 9 .6 1 0 ,1 1 0 .2 1 0 .0 1 0 .3 1 0 . 6 ___ 1 0 , 7 ____1 0 , 4 ___ 1 0 , 3 --- L Q , 3 ___ 1 Q , 5 ___ 1 U 2 _ 9 . Q-_ _ 9 «6 9 *7 1 0 .3 1 0 .4 1 0 .2 1 0 .5 1 0 .7 1 0 .8 1 0 .6 1 0 .5 1 0 .5 1 0 »8 1 1 .3 9 .8 1 1 ,5 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 3 -7 9 4 -7 9 1 -6 0 2 -9 0 3 -8 0 . 6 ,7 2 -7 6 1 1 .2 9 , 7 ___ 1 0 , 3 ____1 0 , 5 ____1 0 >3___ 1 0 . 6 ___ 1 l . f l ___ 1 1 ^ 1 --- 1 0 , 9 8 .7 1-7 6 ____1 1 , 2 9 . 2 ____1 Û . 1 ____1 0 . 2 6 .3 _____6 . 4 B a -6____ a ^ L _ 1 1 5 .4 1 0 . 2 ___ 1 1 . 3 ___ 1 2 . 3 _ 3 -7 6 4 -7 6 1 -7 7 137.6 IN IT I A L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T * FEBRUARY 2 7 . 1981 11 LOUIS G R O S S N A T I O N A L P R O D U C T IN C U R R E N T D O L L A R S C Q H P Q U N O E O A N N U A L R A T E S OF C H A N G E T E R M IN A L Q UARTER IN IT IA L i- 7 6 2-76 3-76 4-76 1-77 2-77 2-76 6 .5 3-76 6 .9 7 .4 4 —7 6 6 .1 8 *9 1 0 .4 1-77 1 0 .0 1 1 .2 1 3 .1 1 5 .9 2-77 1 0 ,5 1 U 5 1 2 .9 1 4 .2 1 2 .5 3-77 JL Q .8 1 1 .7 1 2 .8 1 3 .6 1 2 .5 1 2 .5 4^77 1 0 .4 l l t l 1 1 .8 1 2 .2 1 1 .0 1 0 .3 3-77 B I L L I O N S OF D O LLA RS ANNUAL R A T ES Q UARTER 4-77 1-78 2-78 3-78 4-78 1-79 3-79 4-79 1-80 2-80 3-00 1 ,6 9 8 .6 1 ,7 2 9 .0 1 ,7 7 2 .5 1 ,8 3 9 .1 l ,8 9 3 .9 1 ,9 5 0 .4 8 .1 1 ,9 0 0 .6 1-78 1 0 .3 1 0 .8 1 1 .4 1 1 .6 1 0 .5 9 .9 8 .6 9 .1 2-78 U .4 1 2 .0 1 2 .6 1 3 .0 1 2 .4 1 2 .4 1 2 .4 1 4 .7 2 0 .5 3-78 1 1 .4 1 2 .0 1 2 .6 1 2 .9 1 2 .4 1 2 .3 1 2 .3 1 3 .8 1 6 .2 1 1 .9 4-78 1 1 *8 1 2 .3 1 2 .9 1 3 .2 1 2 .8 1 2 .9 1 3 .0 1 4 .2 1 6 .0 1 3 .8 1 5 .7 1-79 1 1 *9 1 2 *4 1 2 .9 1 3 ,2 1 2 .8 1 2 ,9 1 2 .9 1 3 .9 1 5 *2 1 3 .4 1 4 ,2 2-79 1 1 .4 1 1 .8 1 2 .2 1 2 .4 1 2 .0 1 2 .0 1 1 .9 1 2 .6 1 3 .3 1 1 .5 1 1 .4 9 .2 5 .9 1 2 .0 1 1 .9 1 2 .5 1 3 .1 1 1 .6 1 1 .6 1 0 .2 9 .0 3-79 2-79 2 ,0 3 2 .4 2 * 1 2 9 .6 2 ,1 9 0 .5 2 ,2 7 1 .9 1 2 .7 2 ,3 4 0 .6 2 ,3 7 4 .6 2 ,4 4 4 .1 1 2 .2 1 1 .5 1 1 .8 1 2 .2 1 2 .4 1 2 .0 4-79 1 1 .3 1 1 .6 1 2 .0 1 2 .1 1 1 .8 1 1 .7 1 1 .6 1 2 .0 1 2 .5 1 1 .2 1 1 .0 9 .9 9 .0 1 0 .5 8 .8 1-80 1 1 .4 l 1 .7 1 2 .0 1 2 .1 1 1 .8 1 1 .8 1 1 .7 1 2 .1 1 2 .5 l 1 .4 1 1 .3 1 0 .4 9 .9 1 1 .2 1 0 .7 1 2 .6 2 ,5 7 1 .7 2-80 1 0 .6 1 0 .9 1 1 .1 U . l 1 0 .8 1 0 .6 1 0 .5 1 0 .7 1 0 .9 9 .7 9 .4 8 .4 7 .6 8 .0 6 .6 ___ 5 ^ 6 2 ,5 6 4 .8 3-80 1 0 .7 1 0 .9 l l t l 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 1 1 .8 4-80 1 0 .9 1 1 .1 1 1 .4 1 1 .4 1 1 .1 1 1 .0 1 0 .9 1 1 .1 1 1 .3 1 0 .5 1 0 .3 9 .6 9 .2 9 .8 9 .3 9 .4 8 .3 1 3 .3 1 4 .9 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 3-79 4-79 1-80 2-80 3-80 IN IT IA L IN IT IA L 1-76 2-76 3-76 2-7 6 2 .7 -2-7 6 2 *5 2 *3 4-76 2 ,9 3 ,0 3 ,8 4-76 1-77 1-78 2-77 2-78 5 .2 6 .6 9 .6 4 .7 5 .2 6 .2 7 .4 5 ,3 3-77 5 .0 5 .5 6 ,3 7 ,2 6 ,0 6 .7 4-77 4 .6 4 .9 5 ,4 5 ,8 4 ,5 4 .2 1 .7 1-78 4 .4 4 ,6 5 .0 5 ,3 4 ,2 3 ,8 2 .4 3 .1 2-78 4 •V 5 ,2 5 .6 5 .9 5 .1 5 .1 4 .5 6 .0 9 .0 3-78 4 ,8 5 .0 5 ,4 5 .6 4 .9 4 .9 4 .4 5 .3 6 .4 3 .9 4-78 4 .8 5 .1 5 ,4 4 ,9 5 ,2 4 .4 4 .6 4 ,4 B I L L I O N S OF D O LLARS ANNUAL R A T ES Q UARTER 3-78 4 - 738- 7 7 1 - 74 9- 7 7 2 - 7 9 4-79 1-80 2-80 3-80 1 ,3 6 3 .4 1 ,3 8 5 .8 1 ,3 9 1 .5 1 ,4 0 2 .3 1 ,4 3 2 .8 1 ,4 4 6 .7 5 .6 5 ,0 4 ,9 4 .6 5 .3 6 .1 4 .7 5 .4 5 ,4 4 .9 4 ,8 4 .5 5 .1 5 .5 4 .4 4 .6 3 .9 4 .6 4. 1 4 .0 3 .6 3 .9 4 .0 2 .8 2 .5 1 .0 4 ,5 _ 1 ,4 6 5 .8 1 ,4 7 9 .9 4 .6 4 .0 3 .6 3 .9 4 .0 3 .1 2 .9 2 .0 1 .1 4-79 4 .0 4 ,1 4 ,2 4 ,3 3 .8 3 .6 3 .3 3 .5 3 .6 2 .7 2 .4 1 .7 1 .0 1-80 3 .9 4 ,0 4 ,1 _ 4 ,2 3 .7 3 .6 3 .3 3 .5 3 .5 2 .7 2 .5 3 ,1 3 ,1 2 .6 2 .4 2 .0 2 .0 1 .9 1 .1 0 .7 - 0 .1 4 .1 1 ,4 8 8 .2 1 * 4 9 0 .6 2 .3 0 .6 2 .6 1 .8 3 .1 - 0 .9 - 0 .7 - 2 .2 - 3 .6 tr , 3 .1 1 ,4 7 3 .4 - 1 .7 4 .1 J? 3-79 1 ,3 4 5 .9 o . <M 3-79 1972 D O LLA R S OF C H A N G E 1 ,3 1 5 .4 4 .6 4 .2 1 * 5 0 1 .9 - 9 .9 1 ,4 6 3 .3 1 * 4 7 1 ,9 3-80 3 .0 3 *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 2 .4 4-80 3. 1 3 .1 3. 1 3, 1 2 .7 2 .5 2 .2 2 .2 2 .1 1 .5 1 .2 0 .7 0 .2 0 .6 - 0 .1 - 0 .3 - 1 .4 3 .1 3 .8 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 3-8 0 1-76 2 ,7 3 0 .6 1 ,2 9 5 .8 1-77 2-79 2 ,6 3 7 .3 1 ,3 0 3 .3 2-77 1-79 - !• ! Q UARTER G R O S S N A T IO N A L P R O D U C T I N C O M PO U N D ED A N N U A L R A T E S T E R M IN A L Q UARTER 2 ,4 9 6 .3 2-76 3-76 4-76 IN IT IA L 1 * 4 8 5 .6 Q UARTE* 12 P R E P A R E D 0 Y F E D E R A L R E S E R V E BANK O F ST. LOUIS M A R C H 10, 1981 G RO SS R A T 10 SCALE TR I L L I O N S N A T IO N A L QUARTERLY OF DOLLARS TOTALS AT SEASONALLY PRO DUCT ANNUAL RATES ADJUSTED RATIO T R I L L I O N S OF SCALE DOLLARS 2 2 2 2 2 2 2 2 2 2.9 8 7 6 5 4 3 2 0 2 .9 . 8 .7 . 6 .9 . 8 . 6 .5 .4 .3 . 2 0 SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIODS INDICATED. LATEST DATA PLOTTED: 4TH QUARTER PREPARED 13 BY FEDERAL RESERVE BANK OF ST. LO UIS G E N E R A L RATIO P R I C E I N D E X * SCALE 1973 *A S USED RATIO 1974 1975 IN NATIONAL 1976 1977 1978 INCOME ACCOUNTS PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S LATEST DATA PLOTTED: 1979 SOURCE: U .S . 1980 SCALE 1981 DEPARTMENT OF COMMERCE INDICATED. 4TH QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LO UIS I M P L I C I T P R I C E D E F L A T O R FO H G R O S S N A T I O N A L P R O D U C T ____________ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E _______________ IN IT IA L 1972 Q UARTER « 100 Q UARTER 1 -76 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 6 3 -78 4 -7 8 1 -79 2 -7 9 3 -79 4 -7 9 1-80 2 -6 0 3 -6 0 1 3 1 ,0 8 3-76 4*9 -4-7S Ï.7 134+75 1 3 6 ,6 4 1 - 77 5»2 5.7 _ 2 - 77 5,3 6,0 1 3 2 ,6 6 6 ,3 6,1 -¿r.77_ 6 ,8 138+91 6,0 5 .6 6 >2 6 ,3 7 ,2 -7tl -1-7? 2 -79 1 5 4 ,9 9 ____ 8 i L 6 ,9 _ â r .79. 7 ,5 7 t2 8,0 7 ,6 7 ,8 8,0 6, 3 1-80 7,2 - 2 ~9Q 7 ,3 8 ,3 4—80 8,6 Qf7_ Q ♦ 1____ 8 , 4____ 8 , 6 _____ Z t 9 7 ,6 7 ,6 8 .0 8 .1 8 ,2 8 ,3 8 ,6 1-76 2 -7 6 3 -7 6 4 -7 6 1 -7 7 2 -7 7 3 -7 7 8 ,7 8 ,3 7 ,8 7 14— 164+ 23 .1 4 -7 7 9 .3 9 .5 8 ,7 9 ,0 8 ,9 9 ,0 8 ,9 9 ,0 9 ,2 1-78 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 -7 9 IN IT IA L 167+47 171+23 9 ,8 17 5 + 2 8 9 .1 9 .4 9, ?♦§ J i*9 1 0 ,0 1 0 ,7 4 -7 9 1 -8 0 2 -6 0 3 -6 0 3 -7 9 1 7 9 ,1 6 183 .61 QUARTER _ . 14 PREPARED BY FEDERAL RESERVE BANK OF ST+ LOUIS MARCH 1 8 , 1901 P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S IN C U R R E N T O O L L A R S ___________ C O N F O U N D E D A N N U A L R A T E S Of C H A N G E ____________ IN IT IA L t e r m in a l B I L L I O N S OF D O LLARS ANNUAL R A T ES Q UARTER Q UARTER 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 3-79 7»6 9 *1 1 0 .5 4-76 1 0 *3 1 1 .7 1-77 1 1 .1 1 2 .3 1 3 .1 1 3 .4 2-77 1 0 .4 1 U 2 1 1 .4 1 0 .6 7 .9 9 .4 3-60 1 , 1 2 7 .9 1 2 .9 1 ,1 6 3 .9 1 ,1 8 6 .2 1 ,2 1 7 .4 1 Q .9 3-77 1 0 .5 1 1 .1 1 1 .3 4-77 1 0 .8 1 1 .4 1 1 .6 1 1 .2 1 0 .5 1 1 .8 1 2 .8 1-78 1 0 .5 1 0 .9 1 0 .9 1 0 .5 9 .8 1 0 .5 1 0 .3 7 .8 2-78 1 1 .2 1 1 .6 1 1 .8 1 1 .6 1 1 .3 1 2 .1 1 2 .5 1 2 .4 1 7 .2 3-78 1 1 .3 1 1 .7 1 1 .9 1 1 .7 1 1 .5 1 2 *2 1 2 *5 1 2 .4 1 4 .8 1 ,2 5 4 .5 1 ,2 7 8 .3 1 ,3 3 0 .1 1 ,3 6 9 .9 1 2 .5 4-78 1 1 .6 1 2 .0 1 2 .2 1 2 .1 1 1 .9 1 2 .6 1 2 .9 1 2 .9 1 4 .7 1 3 .4 1 4 .3 1-79 1 1 .5 1 1 .9 1 2 .0 1 2 .0 1 1 .8 1 2 *3 1 2 .6 1 2 *5 1 3 .8 1 2 .6 1 2 .7 1 ,4 1 6 .6 1 1 .0 1 ,4 5 4 .1 1 ,4 7 8 .0 2-79 1 1 .2 1 1 .5 1 1 .6 1 1 .4 1 1 .2 1 1 .6 1 1 .7 1 1 .5 1 2 .3 1 1 *1 1 0 .7 8 .9 6 .7 3-79 1 1 .4 1 1 .7 1 1 .8 1 1 .7 1 1 .5 1 1 .9 1 2 .1 1 2 .0 1 2 .7 1 1 .8 1 1 .6 1 0 .7 1 0 .6 1 4 .6 4-79 1 1 .6 1 1 .9 1 2 .0 1 1 .9 1 1 .8 1 2 .2 1 2 .4 1 2 *3 1 3 .0 1 2 .3 1 2 .2 1 1 .7 1 1 .9 1 4 .6 1 4 .7 1 1 .9 1 2 .2 1 4 .0 1 3 .8 1 1 .7 1 2 .0 1 2 .1 1 2 .0 2-80 1 0 .9 1l . l 1 1 .2 1 1 .0 1 0 .9 3-80 1 1 .1 1 1 .3 1 1 .4 1 1 .2 1 1 .1 4-80 1 1 .4 1 1 .6 1 1 .7 1 1 .6 1 1 .5 1-76 2-76 3-76 4-76 1-77 1 3 .0 1 2 .4 1 2 .3 1 1 .1 1 1 .1 1 1 .0 1 1 *3 1 0 .6 1 0 .3 9 .7 9 .4 1 0 .1 8 .6 5 .7 - 1 .0 1 1 .3 1 1 *4 1 1 .3 1 1 .6 1 1 .0 1 0 .8 1 0 .3 1 0 .2 1 0 .9 1 0 .0 8 .5 6 .4 1 1 .8 1 1 .8 1 1 .8 1 2 .1 1 1 .6 1 1 .5 1 1 .2 1 1 .2 1 2 .0 1 1 .5 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 IN IT IA L 1-77 2-77 3-77 14- 77 87 2-78 3-78 1-80 1 ,6 2 6 .8 1 ,6 8 2 .2 1 4 .3 1 5 .9 1 7 .4 2-80 3-6 0 D O LLA RS B I L L I O N S OF DO LLARS ANNUAL R A T ES Q UARTER 4-78 2-79 1-79 3-79 4-79 1-80 2 —8 0 3-80 8 1 7 .7 3 .5 3-76 4 .1 4-76 4 .8 1 ,7 5 1 .0 Q UARTER C O N S U M P T IO N E X P E N D I T U R E S I N 1 9 7 2 C O M PO U N D ED A N N U A L R A T E S OF C H A N G E T E R M IN A L Q UARTER 4-76 1 ,6 3 1 .0 1 2 .4 PERSO N AL 3-76 1 ,5 8 2 .3 1 2 .9 1 2 *4 1 2 .3 IN IT IA L 2-76 1 ,5 2 9 .1 IO . 1 1 .9 1-80 8 2 7 .1 4 * 7 .. .. 5 , 4 6 .1 8 3 9 .4 1-77 5 .1 5 .6 6 .1 2-77 4 .5 4 .7 4 .7 4 .0 6 .1 851 .9 1 .9 8 56 . 0 8 6 6 .4 3-77 4 .5 4 .7 4 .8 4 .3 3 .4 4 .9 4-77 4 .9 5 .1 5 .2 5 .0 4 .6 6 .0 7. 1 1-78 4. M 4 .6 4 .5 4 .2 3 .8 4 .4 4 .1 1 .3 8 8 1 .3 8 8 4 .1 9 0 0 .6 2-78 4 *8 4 .9 5 *0 4 .8 4 .5 5 .2 5 .3 4 .4 7 .7 3-78 4 .8 4 .9 5 .0 4 .8 4 .6 5 .1 5 .2 4 .5 6 .2 4 .8 4-78 4 .9 5 .0 5 .0 4*9 4 .7 5 .2 5 .2 4 .8 6 .0 5 .1 5 .5 9 1 1 .2 92 3 .4 1-79 4 .5 4 .6 4 .6 4 .4 4 .2 4 .6 4 .5 4 .0 4 .7 3 .7 3.2 0 .9 2-79 4 .1 4 .1 4 .1 3 .9 3« 6 3 .8 3 .7 3 .1 3 .5 2 .5 1 .7 - 0 .1 -1 *2 3-79 4 .1 4 .2 4 .1 3 .9 3 .7 3 .9 3 .8 3 .3 3 .7 2 .9 2 .4 1 .4 1 *7 4 .7 9 2 5 *5 2 *7 2 .0 2 .3 4 .1 922 .8 9 3 3 .4 9 4 1 .6 4 .1 4 .1 3 .9 3 .7 3 *9 3 .8 3 .7 3*0 3 .9 3 .9 3 .8 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 2-80 3 .0 3 .0 2 .9 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 .1 3 .1 3 .0 2 .8 2 .6 2 *6 2 *4 2 *0 2 .1 1 *5 1 .1 0 .7 - 0 .3 - 1 .5 - 2 .7 3 .3 3 .3 3*2 3 .1 1-76 2-76 3-76 4-76 2 .9 1-7 7 o 4 .1 1-80 o 4-79 3 .4 4-80 2-80 1 ,0 9 4 .2 1 0 .7 1-76 1-80 1 ,0 6 7 .2 2-76 3— 76 2-76 4-79 3 .6 943 .4 9 1 9 *3 9 3 0 .8 % 1 2 .9 2 .8 2 .4 2 .5 2 .0 1 *7 1 .3 1 .3 1 .7 1 .1 0 .6 0 .5 6 .1 7 .1 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 IN IT IA L 9 4 6 .8 Q UARTER P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F ST « L O U I S M A R C H 18, 1 9 8 1 15 G R U S S P R I V A T E D O M E S T I C I N V E S T M E N T IN C U R R E N T D O L L A R S ____________ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E ____________ T E R M IN A L Q UARTER IN IT IA L _1»76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 2-76 1 6 *2 3-76 _ 9 .9 2 .. P 4 - 7 fr 9 .6 5 .0 8 .1 1-77 2 0 .1 2 1 .4 3 2 *5 21 , 9 2 3 ,4 3 1 .5 4 5 .0 2 9 .4 3-77 2 2 .0 2 3 .2 2 9 .2 3 7 .1 2 5 .9 2 2 .5 4 —7 7 1 8 .8 1 9 .2 23 *0 2 7 .0 1 7 .0 1 1 .3 1 .1 1-78 _ L 8 .7 1 9 .1 2 2 *2 2 5 *2 1 7 .4 1 3 *6 9 .4 1 8 .4 2-78 _ £ 0 .4 2 0 .9 2 3 .9 2 6 .7 2 0 .6 1 8 *5 1 7 .2 2 6 .2 3 4 .5 3-78 1 8 .5 1 8 .8 2 1 .1 2 3 .0 1 7 .5 1 5 .2 1 3 .5 1 7 .9 1 7 .7 2 .9 _L8 *Q 1 8 *2 2 0 ,2 2 1 *8 1 6 ,9 1 4 .9 1 3 .5 1 6 .8 1 6 .2 8 .0 _ 2 r .T 7 _ B I L L I O N S OF D O LLA RS ANNUAL R A T E S Q UARTER 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 2 58 . 3 . 259 .6 2 6 4 .7 6 2 .4 296 .8 3 1 8 .7 3 3 5 .3 3 3 6 .2 3 5 0 .7 377 .7 380 .4 1 3 .5 392 .6 A 8 .0 1 8 .1 1 9 .9 2 1 .2 1 6 .9 1 5 *2 1 4 .0 1 6 .8 1 6 .4 1 0 .9 1 5 .2 1 7 .0 1 7 .8 1 7 *9 1 9 .4 2 0 .6 1 6 .7 1 5 .2 1 4 .2 1 6 .6 1 6 .2 1 2 .0 1 5 .3 1 6 .2 1 5 .4 3-79 1 6 .3 1 6 .3 1 7 .6 1 8 .5 1 4 .8 1 3 .3 1 2 .1 1 3 .8 1 3 .1 9 .2 1 0 .9 1 0 .0 6 .7 - 1 .4 4-79 JA , 2 1 4 .1 1 5 .1 1 5 .7 1 2 .2 1 0 .6 9 .4 1 0 .4 9 .3 5 .6 6 .2 4 .4 0 .6 - 6 .1 - 1 0 .6 1-80 1 3 .7 1 3 .5 1 4 .4 1 4 .9 1 1 .6 1 0 .1 9 .0 9 .9 8 *9 5 .6 6. 1 4 .7 1 .8 - 2 .4 - 2 .9 2-80 1 1 .2 1 0 .9 1 1 .5 1 1 .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 - 2 1 .7 3-80 9 .7 9 .3 9 .8 9 .9 6 .9 5 .3 4 .0 4 .3 2 *9 - 0 .1 - 0 .4 - 2 .3 - 5 .2 - 8 .8 - 1 0 .6 - 1 0 .6 - 1 7 .7 - 1 3 .4 4-80 1 0 .4 1 0 .1 1 0 .6 1 0 .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 2 3 .7 1-76 2-76 3-76 4-76 1-77 2-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 ^3-eo rrI 1-79 2-79 1 GRO SS IN IT IA L in it ia l 1-76 3-76 4-76 2-76 3-76 4-76 1-77 2-77 3-77 47-87 7 1- 4 2 1 .7 4 1 0 .0 5 .6 4 1 5 .6 3 9 0 .9 3 7 7 .1 JL * 6 . 3 9 7 *7 2-78 D O LLA RS q u arter 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 B IL L IO N S O F DO LLARS ANNUAL R A T ES 3-80 9*8 1 6 5 .7 184 .6 -2 »3 _. 1 6 6 .3 3 .6 0 .6 1-77 12* i 1 2 *8 2 1 *3 2-77 1 4 .0 1 5 .1 21 *6 3 1 ,6 2 2 .1 3-77 1 3 .9 1 4 .8 1 9 .5 2 5 .3 1 7 .7 1 3 .6 4-77 1 0 .6 1 0 .8 1 3 .6 1 6 .2 8 .7 2 *6 3 ,7 203 .3 4 1 .8 2 1 3 .7 220 .6 2 1 6 .5 - 7 .2 1-78 1 U 3 I 1 .6 1 4 .1 1 6 ,3 1 0 .6 7 .0 3 .9 1 6 .4 2-78 1 1 .7 1 2 .0 1 4 .2 1 6 .0 1 1 .5 9 .0 7 .5 1 5 .7 1 5 .0 3-78 9 .8 9 .8 1 1 .5 1 2 .6 8 .4 5 .8 3 .9 8 .0 4 .0 - 6 .0 4-78 9 .3 9 .3 1 0 .6 1 1 .5 7 .8 5 .6 4 .0 7 .1 4 .1 - 0 .9 1-79 9 .4 9 .4 1 0 .6 1 1 .4 8 .1 6 .3 5 .1 7 .8 5 .7 2-79 8 .8 8 .7 9 .8 1 0 .4 7 .4 5 .7 4 .6 6 .7 4 .9 3-79 7 .4 7 ,2 8 .0 8 .4 5 .5 3 .8 2 *7 4 .2 4-79 5 .5 5 .2 5 .8 5 .9 3 *2 1 .4 0 .2 4 .9 1-80 4 .7 4 .4 2-80 2 .4 1 .9 3-80 1 .7 1 *2 4-80 4 2 3 *2 Q UARTER P R I V A T E D O M E S T IC I N V E S T M E N T I N 1 9 7 2 C O M PO U N D ED A N N U A L R A T E S O F C H A N G E L E ftM JH A L Q UARTER 2-76 4 0 6 .3 5 •G 2 .1 224 .9 2 3 2 .9 2 2 9 .3 4 .4 2 3 1 .6 2 .8 7 .5 1 0 .6 237 .7 2 .5 5 .5 6 .0 1 .7 2 .3 - 0 *1 1 .4 0 .5 - 4 .2 - 9 .8 1 .1 - 0 .9 - 3 .3 - 2 .7 - 4 .4 - 9 .0 - 1 3 .9 236 .7 2 3 2 .6 2 2 1 .5 - 1 7 .8 2 .4 0 .8 - 0 .4 0 .4 - 1 .5 - 3 .6 - 3 .2 - 4 .7 - 8 .2 - 1 1 .2 - 1 1 .9 - 5 .7 -0 *4 - 2 .1 - 3 .4 - 3 .0 -5 *0 - 7 .2 - 7 .4 - 9 .2 - 1 2 .7 - 1 6 .0 - 1 8 .0 - 1 8 .1 —2 8 . 8 2 1 6 .3 - 2 .7 - 4 .0 - 3 .7 - 5 *5 - 7 .5 - 7 .7 - 9 .3 - 1 2 .3 - 1 4 .8 - 1 6 .0 - 1 5 .5 - 2 0 .0 - 1 0 .0 0 .0 1 1 .1 2 —80^ 3-60 1 *4 1*3 “ 1 *1 - 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 0 .7 1-77 2-77 3-77 4-77 1-78 2-76 3-78 4-78 1-79 2-79 3-79 4-79 1-60 2. 1 1 .7 2 .0 1 .9 1-76 2-76 3-76 4-76 IN IT IA L 2 0 0 .5 1 9 5 .3 2 0 0 .5 Q UARTE* P R E P A R E D B Y F E D E R A L R E S E R V E BANK O F ST* L OUIS M A R C H 18, 1981 16 G O V E R N M E N T P U R C H A S E S OF G O O D S A N D S E R V I C E S IN C U R R E N T D O L L A R S ______________________ C O N F O U N D E D TERHI NAL ANNUAL RATES OF CHANGE _ _______ ________________ B IL L IO N S OF IN IT IA L QUARTER DOLLARS Q UARTER ______________ 1 - 7 6 2-76 2-76 1*2 It_ 7 6 1 .' V . 4-76 5 *0 7 *0 1-77 2 *5 3-77 7 .5 4-77 8 *3 4-7» 1-77 2-77 3-77 4~77 1-78 2-78 3-78 4-T8 2-79 3-79 4-79 ____ ANNUAL RATES 1-80 2-80 3-60 . _ 36 2 *8 8 *6 3 7 0 *4 7V7_ 8 .0 9 .2 9 .2 1 0 .5 1 1 *4 1 3 .8 3 7 8 *6 8 .8 9 .7 1 0 .0 1 0 .5 7 .2 9 *5 1 0 *4 1 0 *8 1 1 *4 1 0 *2 391 *0 3 9 7 *9 1 3 *2 4 1 0 *4 1-78 7 *9 8 *9 9 *5 9*7 9 .8 8 .5 9 .1 2-78 8 *1 9 *0 9 *5 9 *6 9 *7 8 *7 9 .2 7 .3 9 .4 3-78 8*6 9 *4 9 *9 1 0 *1 10 * 3 9 *6 10 *2 9 *2 1 1 *2 13 *0 4-78 8 *9 9 *7 1 0 .2 1 0 *4 1 0 *6 1 0 *0 1 0 *6 1 0 *0 1 1 *6 1 2 *7 1 2 *4 1-79 8 *7 9 *4 9 *8 9 *9 10 .0 9 .5 9 *9 9 .2 1 0 .2 1 0 .5 9 .3 6 .3 2-79 8 .5 9 .1 9 .5 9 .5 9 .6 9 .1 9 .3 8 .7 9 .4 9 *4 8 *2 6 .2 6 .2 5 .3 9 .3 8 *8 9 *4 8 *5 7 .2 7 .6 3-79 8 .3 9 .1 9 .4 9 .5 9 .5 9 *1 4-79 9 *2 9 *8 1 0 *1 1 0 *3 1 0 *4 1 0 *0 1 0 *3 1 0 *0 1-80 9 .7 1 0 .3 1 0 *6 1 0 .8 1 0 *9 1 0 .7 1 1 *0 1 0 *8 2-80 9 .7 1 0 *3 10 *6 1 0 *8 1 0 *9 1 0 *7 1 1 *0 1 0 *8 1Q-» 1 1 0 *2 1 0 *3 1 0 *0 1 0 *3 1 0 *0 _____ 9 * 8 4-80 1-79 3 58*1 6« 1 2^77 3-76 4 1 5 »7 4 2 5 *1 9 .4 1 0 *7 1 0 *9 1 1 *5 1 1 *4 1 0 *3 10 *4 10 *7 10 *8 1 0 *9 10 *7 1 1 *0 1 0 *8 1 1 *3 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 1 0 *5 451 »3 1 0 .0 4 5 8 *2 1 1 *3 4 6 5 *1 9 *2 1 3 *9 _ 4 7 5 *4 1 8 *9 ________ 1 1 *8 1 1 *6 1 1 *5 1 2 *8 1 3 *1 1 8 *2 1 7 *5 1 1 *7 1 1 *5 1 1 *3 1 2 *4 1 4 *0 1 5 *6 1 4 *0 1 0 *6 9 *9 43 8 *3 1 0 *3 1 1 *5 1 0 *0 1 1 *4 1 0 *7 1 1 *3 1 1 *6 12 *0 2-78 3-78 1 2 *2 13 *0 4-78 4 9 6 *4 5 1 6 *8 1 0 *6 530 »0 1 0 + 1_________ 6 * 6 _____ 2 * 7 __________ 13 *8 1-79 12 * 5 2-79 10 *9 3-79 1 1 *1 W 9 ?3 3 t5 _ 2 0 *2 IH Í 0 5 5 8 *6 ~2^8 0 3-80 IN IT IA L QUARTER GO VERN « N T PURCH A SES T E R M IN A L Q UARTER OF GOOOS IN IT IA L 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 ANO S E R V IC E S IN 1972 DO LLARS B IL L IO N S OF D O LLARS ANNUAL R A T ES Q UARTER 3-78 4-78 1-79 2-79 3-79 -3 *1 3-76 - 1 .9 - 0 .6 4-76 - 1 .1 -0 *2 0 .3 1-77 0 .0 1 .1 1 .9 3 .5 2-77 0 .9 1 *9 2 .7 3 .9 4 *4 2 7 1 *4 2 .2 2 *9 3 .8 3 *9 3 *4 1 .5 2 .3 2 .9 3 *6 3 *6 3 .2 3*0 1-78 1*1 1*7 2 .1 2 .5 2 *3 1 .6 0 *7 -1 *6 2-78 1 .3 1*8 2 .2 2 .5 2*3 1 *8 1 *3 0*4 2 *5 3-78 1 *7 2 *2 2 .6 4-78 1*5 2 .0 2 .3 1-79 1*5 1 *9 2 *2 _ 2 *8 2 .5 2*3 2 *1 4 *0 5*5 2 *1 1 *9 1 *6 2 *7 2 *8 0 *1 2 *4 2*2 1*9 1 *7 1 *4 2 *2 2 *1 0 *4 0 .7 - 0 .4 1 *3 1 *^ 2 *1 1 *7 1 *9 2* C 4-79 1 .6 2 .C 2 *2 2 .3 _ 2 7 6 *3 2 *4 1*3 1 *7 275 *7 27 4 *6 2 .9 3-79 _ 2 7 3 *7 2 *6 2-79 -, . 2 8 0 *0 2 8 0 *1 2 8 0 *6 1 *9 1 *6 1 *4 1 *1 1 *7 1 *4 0 *1 0 *1 If ? 1 *6 1 .3 1 .1 1 .6 1 .4 0 .4 0 .5 0 .4 l . l 2 .2 2 .0 1 *9 1 .7 2 .2 2 .2 1 .5 1 .9 2 .2 3 .6 2 .8 3 .4 4*7 2 8 0 *3 28 1 *1 2 .5 2 .4 2 .3 2 .8 2 .8 >. 7 2 .6 _2 *5 2 *4 2 .3 2 .8 2 *8 2 .4 2 .8 3 *2 4 .1 5 .2 1 *9 2 *0 2 .1 2*0 1 .9 1*7 1 *6 2 .0 1 *9 1 *5 1 .6 1 *8 2 *2 2 *5 1 .6 1 .9 2 .0 2 .1 2. 1 1 .9 1*8 1 .7 2 .0 1*9 1 .5 1 .7 2 *2 2 *5 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 3-80 1 .6 4-80 2 .5 . IN IT IA L _ 1-79 ! f\> i i *■*1 4 2 .6 l± l .2 * 1 2 8 5 .3 6 *1 2 .4 1 * .: 3 —6 0 2 6 6 *2 1 .3 2 .C 2-80 2 6 8 *5 3-77 1-80 1-80 2 6 6 *0 4-77 .2-8.0 4-79 2 6 6 *4 2-76 ___ 6 * 5 3-79 6 *9 2 9 0 .1 2 9 1 *9 2 *5 1*4 -1 *3 2 *2 -0 *1 4-79 1-80 2 8 8 *2 -5 *0 2 —8 0 2 8 9 *8 3-80 Q UARTER ^ ^ P RE P A R E D BY F t D E R A L R E S E R V E BANK O F ST. L O W S M A R C H 18, 1 9 8 1 DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES Of CHANGE T E R M IN A L Q UARTER IN IT IA L X-76 2-76 2-76 3-76 4-76 1-77 2-77 3-77 B I L L I O N S OF DO LLA RS ANNUAL R A T E S Q UARTER 4-77 1-78 3-78 2-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 1 ,1 8 0 .8 - Jl*0 A , V 7 .8 4-76 —7 . 6 8 .4 9 .0 1-77 7 .9 0 .5 8 .8 8 .6 2-T7 8 .7 9 .3 9 .8 1 0 .2 U * 9 1 ,2 0 3 .3 1 ,2 2 9 .6 1 ,2 5 5 .2 1 ,2 9 1 .0 3-77 9 *4 1 0 .1 1 0 .7 1 1 *3 1 2 .6 1 3 .4 4— 77 9 .7 1 0 .3 1 0 .8 1 1 .2 1 2 .1 1 2 .3 1 1 .2 1-78 9 .6 1 0 .1 1 0 .5 1 0 .8 1 1 .4 1 1 .2 1 0 .1 9 .1 2-70 1 0 *0 1 0 *5 1 0 .8 11 *1 1 1 *7 1 1 .6 1 1 .0 1 0 .9 1 2 .8 3-78 1 0 .2 1 0 .6 1 1 .0 1 1 .3 1 1 .7 1 1 .7 1 1 .3 1 1 .3 1 2 .4 4-78 1 0 .5 1 0 .9 1 1 .3 1 1 .6 1 2 .0 1 2 .0 1 1 *8 1 1 .9 1 2 .9 1 2 .9 1 3 .9 1-79 1 0 ,7 1 1 .2 1 1 .5 1 1 .8 1 2 *2 12 *2 1 2 .1 1 2 .2 1 3 *0 1 3 .1 1 3 .7 1 3 .5 2-79 1 0 .6 1 1 .0 1 1 .2 1 1 .5 1 1 .8 1 1 .8 1 1 .5 1 1 .6 1 2 .1 1 1 .9 1 1 .9 1 1 .0 8 .5 _ 3-79 _L 5 i_8 1 U I 1 1 .4 1 1 .6 1 1 .9 1 1 .9 1 1 .8 I 1 .8 1 2 *3 1 2 .2 1 2 .3 1 1 .7 1 0 .8 1 3 .3 4-79 1 0 .8 1 1 *2 11 *4 1 1 *6 1 1 *9 1 1 *9 1 1 .7 1 1 .8 1 2 *2 1 2 .1 1 2 .1 1 1 .7 1 1 .1 1 2 .4 1 1 .6 1-80 1 1 .0 1 1 .3 1 1 .6 1 1 .8 1 2 .0 1 2 *0 1 1 .9 1 2 .0 1 2 .4 1 2 .3 1 2 .4 1 2 .1 1 1 .7 1 2 .8 1 2 .5 1 3 .5 2-80 .1 0 * 6 1 0 .9 n * i 1 1 .2 1 1 .4 1 1 .4 11 *2 1 1 .2 1 1 .4 1 1 .3 1 1 .2 1 0 .7 1 0 .2 1 0 .6 9 .8 8 .8 3-80 _1 0 *7 u * o 1 1 *2 1 1 .4 1 1 .6 1 1 .5 1 1 *4 1 1 .4 1 1 .6 1 1 .5 1 1 .4 1 1 .1 1 0 .7 1 1 .1 1 0 .6 1 0 .3 8 .7 1 3 .3 4-80 1 0 .8 I 1 .1 1 1 .3 1 1 .4 1 1 .6 1 1 .6 1 1 *5 1 1 .5 1 1 .7 1 1 .6 I 1 .6 11 . 3 1 1 .0 1 1 .4 1 1 .1 1 0 .9 1 0 .1 1 3 .1 1 2 .8 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 3-79 4-79 1-80 2 —8 0 13-80 1 , 3 3 2 *1 1 ,3 6 7 .8 1 ,3 9 8 .0 1 ,4 4 0 .7 1 2 .0 1 ,4 8 2 .1 IN IT IA L 1 ,5 31 . 0 1 ,5 8 0 .3 1 ,6 1 2 .8 1 ,6 6 3 .8 1 ,7 1 0 .1 1 ,7 6 5 .1 4 .4 1 ,7 8 4 .1 1 ,8 4 0 . 6 1 ,8 9 7 .0 Q UARTER D I S P O S A B L E P E R S O N A L IN C O M E I N 1 9 7 2 D O L L A R S C O M PO U N D ED A N N U A L R A T E S OF C H A N G E IN IT IA L B I L L I O N S OF DO LLARS ANNUAL R A T ES Q UARTER Q UARTER 1-76 2-76 3-76 4-76 1-77 ¿ “ 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 3-60 9 0 4 .7 ^Z-76 909 .5 _ 4 —76 2 .2 2 .3 2 .5 _ 1-77 2 *0 2 .1 2 *0 1 *6 2-77 2 .8 3 .0 3 .3 3 .6 5 .7 3-77 3 .5 3 .8 4 *2 4 .8 6 .5 7 .3 4-77 3 .8 4 .1 4 .5 5 .0 6 .2 6 .4 5 .5 1-78 3 .6 3 .9 4 .2 4. 5 5 .2 5. 1 4 .0 2 .5 _ 2-78 3 ,6 3 .8 4 .1 4 .4 4 .9 4 .7 3 .9 3 .1 3 .6 9 1 5 .1 9 1 8 .7 9 3 1 .6 9 4 0 .1 9 6 0 .9 9 6 6 .8 9 7 5 .5 3-78 3 *7 3 .9 4 .1 4 .4 4 .8 4 .6 4 .0 3 .5 4 .0 4 .3 4-78 3 .8 4 .0 4 .2 4 .4 4 .8 4 .7 4 .2 3 .9 4 .3 4 .7 5 .0 _ 1-79 3 .8 3 .9 4 .1 4 .3 4 .6 4. 5 4 .0 3 .7 4 .0 4. 1 4 .1 3 .1 2-79 3 .5 3 .6 3 .8 3 .9 4 .2 4 .0 3 .5 3 .2 3 .3 3 .2 2 .9 1 .8 0 .5 - 3-79 3 *5 3 .6 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 .3 3 .4 3 *5 3 .6 3. 8 3 .6 3 .2 2 .9 3 .0 2 .9 2 .6 2 .0 1 .6 2 .2 0 .8 1-80 3 .2 3 .3 3 .4 3 .4 3 .6 3 .4 3 .0 2 .7 2 .8 2 .6 2 .4 1 .8 1 .5 1 .9 1 .0 1 .3 2-80 2 .7 2 .7 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 .0 -1 . 9 4 *9 3-80 2 *8 2 .8 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 4-80 2 .8 2 .8 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 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 1-76 _ _ IN IT IA L 905 .9 9 9 8 .0 1 ,0 0 5 .7 I ,0 0 6 .9 1 ,0 1 5 .7 1 ,0 1 7 .7 1 ,0 2 1 .0 1 ,0 0 8 .2 1 ,0 1 8 .5 2 .9 1 ,0 2 5 .8 3-8 0 Q UARTER PREPARED BY F€D€RAL RESERVE BANK OF S T . LOUIS CO R PO R A T E P R O F IT S A F T E R T A X E S CÜ H PO U NO EO A N N U A L R A T E S OF C H A N G E TERMINAL QUARTER ________________ _______ _ 1-76 2-76 3-76 2-76 6 .5 3-76 5 .6 4 .8 4-76 3 .6 2 .2 - 0 .4 4-76 1-72 2-77 3-77 4-77 ________________________ B I L L I O N S OF INITIAL QUARTER 1-78 2-78 3-78 _ 4-78 1-79 2-79 3-79 4-79 1-80 DOLLARS ANNUAL RATES 2-80 3-60 102 .3 1 0 3 .5 1 0 3 .4 1 - J7 1 3 *3 1 5 .7 2 1 *5 4 8 .3 2-77 1 4 .0 1 5 .9 1 9 .9 3 1 .6 1 6 .7 1 1 4 .1 3-77 1 4 .5 1 6 .1 1 9 .1 2 6 .5 1 6 *8 1 6 .8 4-77 1 2 .6 1 3 .7 1 5 .6 1 9 .9 1 1 *7 9 .3 1-78 1 1 .6 1 2 .3 1 3 *7 1 6 *7 9 .9 7 .7 3 *4 4 *6 2-78 1 4 .7 1 5 .8 1 7 .5 2 0 .8 1 5 *9 1 5 *7 1 5 *3 2 2 *4 4 3 *3 3-7Ç 15 *0 1 6 .0 1 7 .5 2 0 *3 1 6 *2 16 *1 1 5 *9 2 0 .8 2 9 *9 1 7 *7 4 — 78 1 7 .2 1 8 .3 1 9 .9 2 2 .8 1 9 *5 1 9 *9 2 0 *6 2 5 *6 3 3 *6 2 9 *0 4 1 *3 1-79 1 7 .8 1 8 .9 2 0 .4 23. 0 2 0 .1 2 0 .6 2 1 .2 2 5 .4 3 1 .3 2 7 .5 3 2 .7 2 4 .6 2-79 1 7 *7 1 7 .8 1 7 *9 2 0 *8 2 4 *3 2 0 *0 20 *7 1 1 .6 1 1 8 .6 1 2 3 .3 2*3 1 2 4 .0 1 2 5 .4 1 3 7 .2 1 4 2 .9 0*0 164 .6 1 5 *5 1 1 *2 173 .6 8*0 2*9 4 *4 -1 1 *9 1 7 *9 1 3 *7 1 1 *1 1 5 .1 1 1 *0 3 9 *8 3 *3 1 *4 -4 *0 - 8 .9 - 1 1 .0 - 2 0 .3 - 2 4 .1 10 *0 6 *8 5 .5 1 .2 - 2 .2 - 2 .7 —8 * 4 -7. 1 - 2 4 .3 3 9 .1 9 .8 1 0 .3 7 .4 6 *3 2 .6 - 0 .2 - 0 .2 —4 . 4 - 2 .4 - 1 3 .5 2 5 .5 1 3 .2 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-60 1 6 .3 1 7 .2 1 8 .4 2 0 .4 3-79 1 6 *8 1 7 *7 1 8 *8 2 0 .7 1 8 *3 1 8 .5 1 8 *7 2 1 *2 2 4 *2 20 *7 21 *5 4-79 l^ t 7 1 5 .3 !< > *! 1 7 *6 1 5 .2 1 5 .0 1 4 *8 1 6 *5 1 8 .3 1 4 *5 1 3 .9 1-80 1 6 .1 1 6 .8 1 7 *7 1 9 .2 1 7 .0 1 7 .1 1 7 *1 1 8 .9 2 0 .8 1 7 *9 2-ac 9 .2 9 .4 9 *7 1 0 .5 8 .0 7 *3 6*5 6 .9 7 .2 3-80 1 0 .7 1 1 .0 1 1 .3 1 2 .2 1 0 .0 9 .5 8 .9 9 .5 4-80 1 0 .8 1l . l 1 1 .5 1 2 .2 1 0 .2 9 .7 9 .2 1-76 2-76 3-76 4-76 1-77 2-77 3-77 » N A T I O N A L IN C O M E P - P R E L IM IN A R Y B A S IS 155 *8 1 6 4 .6 2 3 .7 1 6 8 .2 1 8 2 .9 1 4 6 .5 - 5 8 .8 1 5 9 .1 IN IT IA L Q UARTER _________________________ PREPA RED BY FED ER A L M ARCH 1 8 » 1 9 8 1 RESERVE BANK SOURCES OF DATA NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The December 1980 Survey of Current Business contains an a r t ic le describing the major aspects of the re v is io n , summary annual estimates for 1978 and 1979, q u arterly estimates for recent quarters, and monthly estimates for October 1979 through November 1980. National Income and Product Tables, 1976-79, a special supplement to the March issue o^ the Survey, contains estimates for 1976-79 for the f u ll set of annual and seasonally adjusted q u a rte rly and monthly national income and product (NIPA) tables. National Income and Product Accounts of the United States, 1929-757 S t a t is t ic a l Tables contains a ll estimates covering e a r lie r years. This publication is expected to be availab le for purchase from the Superintendent of Documents in May 1981. For further information, w rite to the National Income and Wealth D ivision (BE-54) Bureau of Economic A nalysis, U.S. Department of Commerce, Washington, D.C. 20230. The Survey is availab le from most d is t r ic t o ffic e s of the Department of Commerce or from the Superintendent of Documents, U.S. Government Prin tin g O ffice, Washington, D.C. 20402. 1 6 4 .I P 19 OF ST . L O U IS INVENTORIES COMPARED WI TH MANUFACTURING «RATIOS BASED ON SEASONALLY ADJ USTED SHADED AREAS R E P R E S E N T LATE ST DATA PLOTTED: P E R I ODS AND DATA. MONTHLY SALES* TRADE SOURCE: U . S . DEPARTMENT OF COMMERCE OF B U S I N E S S R E C E S S I O N S . JANUARY PREPARED BY F E DE RAL RE SE RV E BANK OF S T . 20 LOUIS
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