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n H T ion m
PREPARED

Month Ending:

BY

econ om ic
FEDERAL

RESERVE

BANK

tredds
OF

ST. LOUIS

October 31, 1978

Released:

November 30, 1978

The general level of prices increased at a 6.3 percent average annual rate from
1969 to 1977, reflecting a similar rate of monetary expansion. Prices in individual markets
showed considerable variation around this average, however, in response to the pressures of
supply and demand in specific markets. The operation of the price mechanism in allocating
resources among various markets during periods of rapid inflation is demonstrated by prices of
some goods rising more rapidly than others; declines are rare under such conditions.
The accompanying table summarizes relative price and quantity movements for major
types of consumer products in the 1970s, with the period divided into two equal parts. The
years 1969, 1973, and 1977 are chosen as benchmark years of relatively high-employment levels
of economic activity. In both periods, the overall rate of price change masks wide variation
in price change among major product types. In general, however, the faster the rate of price
change, the slower is the growth of real expenditures for that product category. This inverse
relationship tended to hold in both periods, but appeared to be weaker in the 1973-77 period
— a period of major shocks in the market for energy products, particularly in 1974 and 1975.

PERSONAL CONSUMPTION EXPENDITURES
Product Categories As Deviations From Total*

1969 to 1973

1973 to 1977

Rate of Change**
Price
1972
Deflator
Dollars

Rate of Change**
Price
1972
Deflator
Dollars

Total
Food
Fuel oil & coal
Transportation
Other services
Household operation
Housing
Other nondurables
Clothing & shoes
Gasoline & oil
Other durables
Motor vehicles & parts
Furn. & household equip.
*

4.5 %
+
+
+
+
+
-

1.8
1.7
1.6
0.9
0.5
0.2
1.1
1.2
1.5
1.7
1.9
3.0

4.0 %
+
+
+
+
+
+
+
+

2.9
0.1
0.1
0.3
0.2
0.6
0.7
0.5
1.0
1.8
3.2
4.0

Total
Fuel oil & coal
Gasoline & oil
Transportation
Household operation
Other services
Other nondurables
Motor vehicles & parts
Food
Housing
Other durables
Furn. & household equip.
Clothing & shoes

Ranking for each period based on rate of change of price deflator.

** Compounded annual rates of change.




7.5 %
+12.7
+ 4.9
+ 1.6
+ 1.5
+ 1.0
+ 0.4
+ 0.2
- 0.1
- 1.6
- 2.2
- 2.4
- 3.3

2.8
+
+
+
+
+
+
+

7.2
1.7
0.1
0.8
0.5
3.1
0.4
0.5
1.7
1.2
0.9
0.2

TOTAU CIVILIAN EMPLOY^*-»

. Ci^w&mzQ-ÂtimtêJL j a u £ _ ce_r.j^rfc£ _
.TIM t.*AL
S'.1 TH
*
JfcrTX- -A Æ L .
*t 71

THOUSANDS

r iU L J S W D l-

------

6-77

7-77

«-7 7

9-77 10-77 JLXrT 12-77

1-73

Of PERSONS
2-78

%=?JL, 5-78

6-78 ,7—78

5.5

5-77

ft* * !!..
90*267

ì.i

90*648

*-77

5 .1

5*1

5*2

7-77

3*8

3*2

2*2

•—77

3*6

3*1

2*4

10-77

3*7

3*4

3*0

2*9

3*6

4*0

4*0

11-77

4*6

4*9

4*4

4*2

5*5

6*4

7*7

11*9

12-77

4*7

4*6

4.5

4*4

5*4

6*1

6*8

8*3

9*3

1-7#

4*6

4*5

4*4

4*3

9*1

9*6

6*0

6*7

4*4

2 -7 «

4*3

4*2

4*1

3*9

4*6

4*9

9*1

9*4

3*9

1 -7 «

4*2

4*1

4*0

3*9

4*9

4*7

4*8

9*0

3*5

4-78

4*5

4*4

5-78

4*4

6-78

4*7

4*7

90.588

-0*8

90*793

2*7

91.088

9-77

91.381
92.214
92.609
92*881

3*6

93*003

1*6
2*9_

2*5

93.266

3*4

93.801

4*3

4*2

4*8

9*0

9*2

9*4

4*2

3*9

4*0

5*3

7*1

4*3

4*2

4*7

4*9

9*0

9*2

4*2

3*9

4*0

4.9

9*6

4*1

4*6

4*6

9*1

9*3

9*5

5*7

4*9

4*8

5*1

6*0

6*8

6*7

9*4

94*112
94.819
94.425

7-78

4*1

4*0

3.9

3*8

4*2

4*4

4*4

4*5

3*6

3*4

3*4

3*7

3*8

2*7

2*0

-4*9

W l

4*0

3*9

3*8

3*7

4*1

4*2

4*2

4*2

3*4

3*2

3*2

3*4

3*4

2*9

2*0

-1*9

2*0

*-78

4*0

3*9

3*8

3*7

4*0

4*1

4*1

4*2

3*±

3*3

3*2

3*5

3*9

2*8

2*4

0*2

2*8

3*7

10-78

4*0^

3*9

3*8

3*7

4*0

4*1

4*2

4*2

3*5

3*4

3*3

3*6

3*6

3*0

2*8

1*2

3*3

3*9

4*2

4-77

5-77

6-77

7-77

8-77

9-77 10—77 11-77 12-77

1-78

2-78

3-78

4-78

9^78

6-78

7-78

8-78

9-78

3-77

94*581
94.868
95.192

INITIAL « N Î H

PAVftOLL fMPLOVNGNT
CQfTQUHPfO ANNUAL M m fìf fHàMfif

mmHái

INITIAL MONTH
3-77

4-77

5-77

6-77

7-77

ft-77

9-77 10-77 11-77 12-77

1-78

2-78

1-78

4 «TI

5-78

4 -7 «

7-71

8-78

4-7A

-ten__ i
ti.
-1=12__ 2J_á*l_
«Q

aitW
«t¿7T

* 7 ____ 2aJ___ i á J ___ LaJL
-7
T-TT 4>S_____L2_2a¿_
• -T T

o Mf t m
* fus

KtMl

4*0___ 1*2___ 1*1___ 2¿á___ Zm .
L

10-77

4*1

3*8

3*7

3*4

3*7

4*4

3*3

11-77

4*2

4*0

4*0

3*8

4*0

4*7

4*2

5*2

83*199

12-77

4*0

3*8

3*8

3*5

3*7

4*1

3*6

3*8

83*549
2*9

83*719

1-78

3*9

3*6

3*6

3*3

3*9

3*7

3*3

3*3

2*3

2.2

2—78

3*9

3*7

3*7

3.5

3.6

3.9

3*6

3*6

3.1

3.4

4*6

3-78

4 .3

4*1

4*1

4*0

4*2

4*3

4*5

4*3

4*9

6*3

4—78

4*7

4*6

4*6

4*8

9*2

9*1

9*4

9*5

6*2

7*6

9*1

10*3

5-78

4*6

4*9

4*9

4*4

4*6

4*9

4*8

9*0

5.0

5*5

6*4

7*0

6*5

2*8

6-78

4*6

4*5

4*6

4*9

4*7

4*9

4*9

9*1

5*1

5*5

6*2

6*6

6*1

4*1

5*4
2*9

0*5

2*5

1*1

83.871
84.188
84*726

7*9

85.418
85.618
85.996

7-78

4*4

4*3

4*3

4*2

4*3

4*9

4*4

4*6

4*5

4*8

5*2

5*3

4*7

2*9

8-78

4*2

4*1

4*1

4*0

4*1

4*3

4*2

4*3

4*2

4*4

4*7

4*7

4*1

2.6

9-78

4*0

3*9

3*9

3*8

3*8

4*0

3*8

3*9

3*8

3*9

4*1

4*1

3*4

2.1

1*9

0*8 _ 0*9

0*3

3*9

4*0

4*1

4*0

4*1

4*0

2*8

2.1

2*6

3*2

6*2

6-77

7-77

8-77

5-78

6-78

7-78

8-78

9-78

1#—78

4*1

4*0

3-77

4-77

9-77

4*1

4*4

4*3

3*8

2*8

9-77 10-77 11-77 12-77

1-78

2-78

3-78

4-78

86.033
1*6

86.149
86.16TP
86.597F

IM ITI AL MONTH
*-» W LIN IN A A Y




P*t*AfttO »V F€Of*AL M StftVt 8ANK Of ST« LOUIS

i im
t

2

-




EMPLOYMENT
RATIO

R A T I O SCALE

SCALE

MILLIONS

OF

PERSONS

MILLIONS

S E A S O N A L LY A D J U S T E D

OF PERSONS

S#*tC€i I.S .K P A tT lf f t r r t f L A »M
PEtCEMTACfS Ate AIM«AL M TES I f CHAMCC F M P M I M t IM» I C A T O .
LATEST »ATA PLfTTESi K T M C K PttlIMIMAAY
FfttPAJtC» SY FCtCltAL K t O V C IAMK #f S T. I N I t

UNEMPLOYMENT RATE
PE RCE NT

SEASONALLY

ADJUSTED

SMftCtt M .

PERCENT

MFAATMCHT #f LAM *

f t t t t M T Of C IV IL I AM LAMA F#tCC
LATEST SATA F L tT T E It tCTM CR
PttPAtCS I t FCMKAL tC S ttV t IAMK t t S T. I N I S

3

larcum t m ic i

im*xf

siauw allv adjusted *

COHFOUWO ANNUAL M TC $ OF CHANCE_______
TEM IN A L_______________________________ _____________________________ IN IT IA L NQNTH______________________________________________________________ W M O O
NONTH
>—77 4—77 5-7 7 4 -7 7 7-7 7 8 -7 7 9-7 7 10-77 11-77 12-77 1-78 2-76 3-78 4 -7 6 5-76 6-78 7-76 6-78 9 -7 8
179.9

4-77

10*4

5-77

• ♦7

6*9

4-77

7 .6

6*5

180.9
6 .1

161*8
182*4

7-77

6 .9

5 .7

5 .1

4 .0

6—77

6 .4

5 .4

5 .0

4 .4

4 .7

9-77

6 .1

5 .1

4 .9

4 .5

4*7

4 .7

IO—77

5 .«

5 .1

4 .7

*♦4

4 .5

4 .3

4 .0

11-77

5 .6

5*1

4 .5

4 .7

4 .7

4 .7

5 .3

12-77

5 .7

5* 1

4 .7

4 .6

4 .0

4 .9

5*3

4 .9

I8à*l
183*8
164*4
165*2
186*0

5.3

Q >

1-78

6 .2

5 .7

187*5

5 .5

5 .4

5 .7

5 .9

6 .2

6 .9

7 .7

2-76

4 .)

5 .9

5 .8

5 .7

6 .0

6 .2

6.5

7 .2

7.6

9 .0

8*0\^

> -7 »

6 .6

6. 3

6 .2

6.2

6 .5

6 .7

7 .1

7 .7

6 .3

9 .3

9 .0

io .o \

190*2

4-7$

6 .9

6# 6

6 .6

6 .6

6 .9

7 .2

7 .6

6 .2

6.6

9 .6

9 .5

10.3

191*6

166*7

i o * 6 \ 9 .4 %

193*6

5-76

7 .1

7 .0

7 .0

7.1

7 .4

7 .7

•a

8 .7

9 .3

10.1

10.1

10.6

11.2

1 1 > V

6-76

7 .5

7 .3

7 .3

7 .#

7 .7

6 .0

6 .4

9 .0

9 .5

10.2

10.3

10.9

11.2

11.5

7-76

7 .4

7 .2

7 .3

7.3

7 .6

7 .9

•«2

8 .7

9.1

9 .7

9 .6

9 .9

9 .9

9*7

8 .7

6 .^ \

6-78

7 .4

7 .2

7 .2

7 .3

7 .6

7 .6

6.1

6*5

8 .9

9 .3

9 .2

9 .4

9 .3

9 .0

8 .1

6 .6

6 .9

9-76

7 .5

7 .3

7 .3

7 .4

7 .7

7 .9

6.2

6 .5

6 .9

9 .3

9 .2

9 .4

9 .2

9 .0

6*3

7 .4

7 .9

8*9

10-76

7 .6

7 .5

7.ì>

7 .6

7 .6

6 .0

6.3

8.7

9.0

9 .3

9 .4

9 .4

9 .2

8*6

6 .0

6 .6

9 .5

3 -7 7

4 -7 7

5—77

6-7 7

7 -77

6—77

1

1

9 -7 7 10-77 11-77 12-77

u

a

195*3

\

196*3
197*4

^

1-7B

196*6
200.4

lO .M
9 -7 «

»CP1-W FO* U*6AN WAftg EARNERS ANO C l t M C A t WORKERS REVISEO AS OF JAN* 1976

IH IF a tD BT FIDI* Al EESEUVf BAWC OF ST» OW1S
NOVENtE* 26. 197«

PROOUCtR PRICE INDEX, ALL COHNOOITIES - SEASONALLY AOJUSTfcO
_____________
CQHfQUNOEP ANNU4L RATES QF CHANCE________________
NONTH
3-77
4-77

4 -7 7

5-77

6-7 7

7-77

8 -7 7

9-7 7 10-77 11-77 12-77

13*2

1 -7 Í

2-76

4-7 6

3-78

5-76

6 -78

8-78

7-76

9 -7 6

194*3

5—7?

9 ,1

5*1

6 -7 7

4 .0

-0 * 3

-5*4

7 -77

3*2

0*0

-2*4

0*6

•-77

2*6

0**

-1*2

0*9

195.1
m *2
194*3
194*5

1*2
2*6

4*4

19>*2

9 -77

_ 3*0

1*1

0*2

10-77

3*5

2*0

1**

3*1

4*0

5*#

6*3

14—77

^*2

2*9

2*6

4*3

5*2

6*5

7*6

8*9

12-77

4 ,3

3*2

2*9

4*4

5*1

6*1

6*7

6*9

196*2
197*6
196*4

5*0

1-78

4*9

4*1

3*9

5*4

6*2

7 .2

7*9

e*4

6*2

2 -7$

5*6

4*9

4*9

6*2

7*1

8*1

8*6

9*5

9*6

12*1

3-76

6*1

5*5

5*6

6* V

7*7

6*6

9*3

9*9

10*2

12.0

4 -76

6*7

6*2

6*3

7*6

6*4

9*3

10*0

10*7

11*0

12*6

13*0

13*1

5 -7 «

6*9

6**

6 .5

7*7

8*4

9*2

9*8

10*3

10*6

11*6

11*6

11*5

11*4

10*3

11*2

1U1

10*7

10*4
8 *6

6*6

5*9

3^5>

209*8

7*6

5*9

5*1

3 .5

210.4

200*2
202*2

s.
12.3

204*1
209.4
6 .V V

¿07*6

6-70

7*0

6*5

6*7

7*7

6*4

9*1

9*7

10*1

7-7*

6*8

6*>

6 .4

7*4

8*0

8*6

9*0

9*3

9*4

10*1

9*6

9*3

6-76

6*6

6*2

6*2

7*1

7*6

6 .2

6*5

6*7

6*7

9 .2

6*9

8*3

9 -78

6*8

6*4

6*5

7*3

7*6

6*3

8*7

8 .9

6 .9

9 .3

9 .0

6*5

8 .0

5 .7

6*6

10-76

7*3

7* Q__ 7*1

7*9

6*4

9*0

9*3

9*6

9*6

1 0 .ll

10*0

9*6

9*3

6*5

6*5

6*6

10*3

19.*

i.V,

5-77

6-7 7

7 -77

6 -7 7

9 -7 7 10-77 11-77 12-77

1-76

2-78

3-76

4 -7 6

5-76

6-76

7 -76

8 -76

9-7 6

3-77

4 -7 7

209*2 R

212*1
21>*0

IN IT IA L NO*tH

R-REVISED




NOVENSE* 2, 197«

FREPARCO OY F EOCAAL REStRVC 6AMK OF S T . LOUIS

l i

— 7 T j5




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PR00UC6R PR ICE 1*0€X. INOUSTRIAI COMMOOITIES - SfcASONALLV AOJUSTED
___________________ CQHPQWOeO AHNUAl RAT6S OP CHAHfrt_____________________

TRIA
^HWt

i967 » 100

IW1T1AL WQ*TH

MOffTH
3-77

4-77

9-77

6-7?

4-77

7*8

6-77

6*4

5*1

6*7

5*9

5*7

6*6

6*0

5*9

7*0

2-78

3 -7 «

4-78

5-7®

6-7*

?-?•

•-78

9-78

7*7

•-77

1 -7«

9 -7? 10-77 11-77 12-77

3*8

7-77

•—77

9*1

5-77

7-77

193.0
6*4

m .o
1V4.6
1V5.Í
196.e

6*3

9-77

6*6

6*1

6*0

6*7

6*3

6*3

10-7?

6*4

6*0

5*9

6*5

6*1

5*9

5*6

11-7?

6*1

5*7

5*5

5*9

5*5

5*2

4* »

197.9
iva*?
3*7

12-77

199*3
200*3

6*2

.!-?•

6*5

6*2

6*2

6*5

6*3

6*3

6*3

6*6

•*1

¿ -? 9

6*6

6* 3

6*3

6*6

6*5

6*5

6*6

6*«

7**

H í

6*5

6*3

6*3

6*6
6*9

4 -7 «

4t®

6*6

6*7

9-7$

6*9

6**

6.8

4-?9

7*0

6*9

6*9

7-79

7*C

6*9

6*9

9-78

7*1

7*0

9-78

7*1

10-7«

201*9
203.1

7*4

204.1
6*9

.6,*

?*I

7.0

7.1

7*2

7*2

7*2

7.1

7.1

7*2

7*0

7*2

7*2

7*0

7*0

7*2

?*4

7*3

7*3

?*
<►

5-77

4 -77

5-77

6-7?

10*0

7*0

7*3

9*0

7.2

7.4

•*1

e.5

•*1

0.3

9.5

•*5

7*3

7*6

•*1

•*5

•♦2

« .3

9.1

•*4

• .4

7 .3

7.4

7 .9

•*2

7.9

9.0

9.5

?.•

7.5

6*5

7 .3

7*4

7*5

•*0

•*2

7*9

•*0

•♦4

7 .9

7.7

7 .4

•« »

7*2

7*2

7*3

7*5

7 .9

$♦ 1

7 .»

?*9

9.2

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SEA S O N A LLY AD JUSTEO

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CQHfrQUNPCO ANNUAL R A TES O f CKAH 0 6
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A N N U AL R A TES
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3 -7 7

4 -7 7

5 -7 7

6 -7 7

7 -7 7

8 -7 7

*-7 7

1 0 -7 7

1 1 -7 7

1 2 -7 7

1 -7 8

2 -7 8

3 -7 8

4 -7 8

5 -7 8

6 -7 8

7 -7 8

8—7 8

9 -7 8

1 . 6 9 5 .7
1 7 .6
1 >7 ^ 1
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IN IT IA L MONTH
P - PRELIMINARY




PREPAREO er FEMRAL RESERVE BANK Of ST. LOUIS
NOVEHMR 17» 1*7«

8

RETAIL
ratio

SALES
RATIO

scale

B I L L IONS OF DOLLARS

1970

1971

SEA S O H A LLY A D JU S TE D

1972

1973

1974

1975

BILLIONS

1976

SCALE

OF D O L L A R S

1977

1978

MWtCCi » . S . OCf AJtTWCMT Of CO***Ct
rMCCtfTAM* AM AttOAl M T U Of CKAMM F M fCKIM S IMtlCATCO.
LATW T »ATA fl* T T C »t U f T U N R , OCTOM* AOVAMCC (fTIM ATC
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______ * E TM l SAV jS
COHPOUNOED ANNUAL RATES 0* CHANCE
ÎN Ïf ÎA L NÔNÏH

- K W h * At

4 ^ F f 5- »

-ir T - n

6

4—7*

9 -»

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12-77

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60,720
61.650
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62,649
63,917
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64,292
64,565
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65,862

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9*4

9

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11*0

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6-77

7-77

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9 -7 7 10-77 11-77 12-77

1-78

2-78

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5-78

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66,23®P
65,910€

IN IT IA L MONTH
P - PRELIMINARY
É S TIH a TÉD------




PAEPAREO BY PEOCRAt RESERVE ÖANK Of S T . LOUIS
NÔŸEHCÊR 14, 1970

~

HOURLY COMPENSATION» PRIVATI »USINCSS SCCTOR *
compqunoco
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____________

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16 « 10
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IN IT IA L QUARTER

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1-75

2-75

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---------------------------------------- INITIAL GUAAT«-------- -------------------------------------------------------------

OUTPUT PER HOUR OP ALL PERSONS* PRIVATE BUSINESS SECTOH *
____________ COMPOUNOEP ANNUAL RATES QP CHANCE_________________
J j ü T j A L WÄRTER_________________________ _________________________________ 1*47 « 100

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3*0

4*5

5*»

3*1

10**4
112*3
^w

114*»

-2* I s

114*0

I —7 »

1*2

2*0

2*»

3*3

4*»

5*5

3*7

1*4

3 .o \

2 -7 »

1*3

2*1

2*5

3*2

4*2

4**

3*4

1*7

3*7

3—7 »

1*5

2*2

2*7

3*2

4*1

4*»

3*4

2*2

3*»

115*4
11»*1
3*0

3*5\

117*1

4 -7 »

1*4

2*0

2*4

2**

3*»

4*0

2**

1*8

2*8

2*1

1**

0 * 3 \

1-77

1*5

2*1

2*4

2**

3*5

3*0

2*8

1**

2*7

2*2

2*1

1*4

2-77

1*3

1*0

2*1

2*4

3*0

3*2

2*2

1*4

2*0

1*4

1*1

0*3

0*3

3-77

1*5

2*0

2*3

2*7

3*2

3*4

2*»

l.*

2*4

2*0

!♦*

1*5

1**

1*7

5 * 2 \

118**

4-77

1*4

l**

2*2

2*5

2**

3*1

2*3

1*7

?•?

1*8

1*7

1*3

1*5

1*2

2*7

11**0

2*4

1*7

0**

0*7

0*3

0*3

-0*3

0*2

-2 .2

U9

0*8

0*4

0*5

0*1

0*5

-1*0

-1*7

1*3 .. It?

Ot *

1f9 -* iß

It3 „

ft?

4 t!

1-70

1*1

1*5

1*7

2*0

2*3

ItO

1*4

2 -T i

1*1

1*5

1*7

!♦*

2*3

2*4

1*7

Iti

It*

3-70

1*3

1*»

1*0

2*1

2*4

2*5

I**

1*3 | 1*7

---------- 4-7*

i-74

*-74

1-74 4-74

i - 7»

^7»

4-7*

i-7»

¿>74 3-7»

.

117.2
117**

4-7»

117*4

1-17 2-tt

0 * 3 \

117*»

3-77 4-7>

118*0
Itt

4 ^

U ? t* f

1-7» ~2^ fi ---------------

----------------------------------------------------------------------------------------- W fT tA i
------------------------------------------------------------------ ----------------------« t f V IS f D PROM 1*74*
*=> « I L W W A A V -------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------




F H » A * i 6 év
OCTOBER 27# 1*70

10

R tSf ftVC B A Ä Ö P i t * U k d i

PRODUCTIVITY, COMPENSATION, AND LABOR COSTS"
RATI O SCALE

R A T I O SCALE

1 9 6 7 -1 0 0

SEASONALLY ADJUSTED

1 9 6 7 -1 0 0

MWMt •

KfAHTMCMT *

LAM «

PfftCtlfTAtU AM AWWAL M T U 9f CM t f H P t t l M I IMt ICA TU .
AXt
LA T U T MTA P LO TTttt M l MAATlft P ttl miMAiY
* M Y IS tt n m 1974.
PM PAtU tff FtKftAL W I U V I tAJM Of ST. LM IS
C

UNIT LA6Oft COSTS, PRIVATE BUSINCSS SfCTOA *
COHfMJUNOCO ANNUAL AATtS Of CHANQt________
L ^ I?AL___________________________________________________________INITIAL QUARTER_________________________________________________________ W T « iOO

o o a if *

4r73

1-7+

2-?*

>-74

4-74

1-74

'h . V

2-74

13.0

3—j74

13.4
13.0

13.0

14.9

3-73

4-73

1-7*

4-76

2-76

1-77

2-77

3-77

4-77

1-76

2-7*

lJ .l\

|i>.e| 13.6

2-73

13.6

4-74

I « 7?

1 5 .2 ^ 1 3 ,8 %

1—75
2-73

s

,

141.9
147.0
132.6

13.1

11.6

10.9

10.1

6.9

6.6

137.6

3.2

141.2

''s— ¿.170
-2 .7 ^ \

140.1

>—73

9.0

0.1

6 #7

4.3

1.6 |—2.1

4-73

9.>

1.9

7.3

3.6

3.9

2.2

1-76

6.7

6.0

7.0

3.3

3.9

2 #6

4*4

7.3

4^0\

143.4

2-76

•♦4

7.7

3.3

4.2

>.2

4 .7

6.9

4.6

167.7

4-76

6.2

7.7

6.0

3.0

4.4

3.6

7.1

6.1

6.6

7.4

9 .0 \

139,3

-i ^ V
4*7 1 1 ^ 2 ^

143,6

>—76

170,1

.

173.6

1-77

6.0

7.4

3.9

3.0

4.3

3.6

6.6

3.9

6.4

6.7

7.1

5 ^ V

2-77

6.0

7.3

6#l

6.0

3.3

4.6

3.6

6.9

6.2

6.7

6.9

7.3

4.4

179.3

>-77

7.7

7.2

6.6

3.9

3*2

4.6

3.6

6.6

3.9

6.2

6.3

6.3

5.6

161.1

4-77

7.6

7.2

6#6

3.9

3.3

4.9

3.7

6.3

6.0

6.2

6.3

♦*4

5.6

4.0

3.2

1—70

6.2

7.6

7.>

6.7

6.2

3.9

6.7

7.6

7.2

7.6

7.6

6*2

6.0

6.7

9.1

11.7

1 7 .T V

2-71

6.1

7.7

7.>

6.7

6.2

6*0

6.7

7.3

7.1

7.5

7.7

6.0

7.6

6.4

6.3

10.1

12.0

> -7«

7.9

7.6

7.1

6.6

6.1

3.9

6.6

| 7.3 | 6.9

7.2

7.4

7.6

7.4

7.6

7.6

6.6

9.6

5.9

4-73

t-74

2-74

>-74

4-74

1-73

2-75

1-76

2-74

*-74

4 -H

i-T T

2 -T?

i-T T

4 -T7

1-7*

»-75

4-75

176.0

4 .3 \

16A.9
191,4
6^9\

194.6
5 .0 \

197.0P

2-7*

i n i t i a l q u a a tm

«MVISEO FAON 1974.
P - W ULIHI nAHY




mkkkkb

IV

OCTOtfcA 27, 197*

11

kiUk*

TO * 6» IT . m i l

CROSS NATIONAL PROOUCT IN CURRENT OOLLARS
CQHPOUWOEO ANNUAL RATES Of CHANÇE

^XmtJÂLARTÇR

t e r m in a l

i r l i *-77 . 1-74 i - n

3-75

«♦5

9*3

9*3

9*4

10*4

\t
>P

19*4*V

4-75

«*6

9*2

9*2

9*3

10*0

P t?

1**?

1-76

9*1

9*«

9*«

10*0

10*7

BILLIONS Of
OOLLARS
ANNUAL RATES

1*544*0

9 * o "\

13*7

1*599*0

IU 3

1*449*7

2-76

9*1

9 .7

9*7

9*S

10*4

*2t *

12*5

10*5

it* ?

3 -76

*♦0

9*4

9*5

9*5

10*0

11*4

11*4

9*7

9*9

«*1

4-76

«*9

91
*

9*3

9*4

9*«

U tl

10*9

9*4

9*5

9t2

7*«

« *í

1-77

*♦>

4*7

9*7

_ 9*4 _ 10*2

lit*

11*3

10*1

10*3

9t?

9*7

10*9

2-77

9*6

10*0

10*1

10*2

10*4

lit?

11*4

10*4

10*9

10*4

10*«

1-77

9*7

10*1

10*1

10*3

10*4

lit?

11*4

10*7

11*0

10*5

10*9

4 -77

9*6

10*0

10*1

10*2

10*5

U t4

U*3

10*5

10*7

10*3

1 -7 «

9*5

9*«

9 .9

9*9

10*2

11*0

10*9

10*2

10*3

9*9

2 -7 «

10*1

10*4

10*5

10*6

10*9

U t«

11*7

11*1

11*3

3 -7 «

10*1

10*5

10*5

10*6

10*?

11*7

11*4

11*0

4 -73

1-74

2-74

3-74

4 -74

1-75

2-75

3-75

1*495*4
1*715*4
\

1*749*9
1*904*9

11*9

1 3 * V \ J 1 .0 %
—\
13*« 1 4 * 0 ^ ^

11*7

12*9

12*5

11*1^^

10*5

11*2

11*9

11*3

10*0

10*0

10*5

10*9

10*3

9*0

11*0

11*3

11*9

12*5

12*2

11*«

12*0

13*7

11*2

11*0

11*2

11*7

12*2

12*0

11*4

11*7

U t 7 __l>ft6

1ÇL*7 1

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77

4 -7 7

2 -f i

1*947*0
1*916*9

9*9^\
9*<L

1*959*1
1*992*0

7*1

2*097*5

2 0 * 4 ^ -w

H i

2*141*4

IN IT IA L QUARTER

CROSS NATIONAL PROOUCT IN 1972 OOLLARS
CONfOUNOCO ANNUAL RATES Of CHANCE

BILLIONS Of

■»r
i rm

4 -7 3

l-> +

2-74




W 4

4-74

1-75

2-75

3-75

4 -75

fiQUáy.

a? ia
M

W 6

2-76

>-76

4-1*

1-77

2 -7 7

>-77

4 -7 7

1 -7 «

2 -7 «

IN IT IA L QUARTER

RRERAREO BV fiOCRAL RESERVE BANK OF ST* LOUIS
NOVfWBER 21* 197«

12

GROSS N A T I O N A L PRODUCT
R A T I O SCALE
R A T I O SCALE
QUARTERLY TOTALS AT ANNUAL RATES
T R I L L I O N S OF D O L L A R S
T R I L L I O N S OF D O L L A R S
SEASONALLY ADJUSTED

.0
.9

.8
.7

.6
5
4
.3

.7

.6
.5

.4
.3
.2

.1

1 .0

0.9

0.8
1970

1971

1972

1973

1974

1975

1976

SOURCE« U . S .
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS

1977

1978

DEPARTMENT OF COMMERCE

IN D IC A T E D .

LATEST DATA PLOTTED« 3RD QUARTER




PREPARED 8Y FEDERAL RESERVE BANK OF S T .

13

L O U IS

GENERAL P RI CE

INDEX*

R A T I O SCALE

RA T I O SCALE

1 9 7 2 -1 0 0

1 9 7 2-10 0

« A l ( U l IN MATItttAl I M MC ACCWWTS
C
M W C tt •
ttltCCMTAMS Aftf AMWAl lU T It I f CMAMCf f M fCRlMS I Ml ICA TC I.

I f f AATMCMT I f CCMMCiCC

LATCIT »ATA t tlT T flt M l M AITU
PttPAMI IT PCDC*At Rtt(IV( M M If IT. IMIS

IMPLICIT PRICE DCFLATOR FOR CROSS NATIONAL PRODUCT
__________ COHPOUNQCO ANNUAL RATC$ Of C H A N G E ________

JÂnm_9yê<u$B-

- a a r <t-73-__1 -74

.= »
12-

2-7 4

¿-7?

1*72 • 100

4-75

1-76

2-76

H fe

4-76

1-77

2-77

3-77

4 -7 7

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77

1-79

2-79L

4-77

_9l
$A




2-74

3-74

4-74

1-75

2-75

3-75

IN IT IA L QUARTER

PRCPARCO 8V FCOtRAL RESCRVt 8ANK Of ST* LOUIS
NOVCNtCR 21» 147«

14

KUSOKAL CONSUMPTION EXPENOITURES IN CURRENT OOLLARS
of chanqe _____________

___________CQwfogwxo m m *. m t<s

BILLIONS O f

- w

raim w m

* -l ? 7 f

1-74

1-74

?-74

»-7 4

4 -7 »

1-75

2-75

>-75

4 -7 »

1-74

JMktAM__

.

* -7 »

ANNUAL RATfS

3-74

4 -? »

1-77

2-77

3-77

4-77

1-7»

2-74

10*4

.2
-?» . Ht4 I?t?

97?t2__

3-74

13*3

14*3

4-74

10*0

4*0

4*4

3*2

1-75

4*7

4*4

4*7

4*0

4*4

2-75

10*3

10*3

4*7

9*3

10*4

13*1

3-75

10*4

10*7

10*3

4*4

11*5

12*4

12*4

4-75

10*7

10*4

10*5

4*6

11*5

12*4

12*1

1-74

11*0

11*1

10*4

10*4

U*f

12*4

12*5

12*4

1>*2

2-74

10*7

10*4

10*4

14*1

il*>

11*4

11*4

11*0

10*7

3—74

10*4

10*4

10*4

4*4

10*4

11*2

10*4

10*5

10*1

4*4

4*0

4-74

_

12*3

10*0

10*4

10*7

10*3

11*2

11*4

11*3

11*1

11*0

10*2

11*2

909.0
916*2
935.7
964*9
444*0
11*4

1*021*6
1*053*9
4*3

1*075*1
1*044*4
13*5

1*133*7

1-77

10*4

11*0

10*4

10*5

11*4

11*7

11*5

11*3

11*3

14*4

11*4

13*0

12*5

2—77

10*7

10*7

10*4

10*2

11*0

11*2

11*0

10*4

10*4

10*1

14*4

11*1

4*4

7*4

3-77

10*4

10*4

10*5

10*1

10*9

11*0

10*4

10*5

10*4

4*4

10*2

10*4

4*4

9*2

4*0

4-77

10*4

10*4

10*7

10*4

11*1

11*3

11*1

10*4

10*4

14*5

10*4

11*3

10*7

10*1

11*5

1-74

10*4

10*4

10*5

10*2

10*7

10*4

10*7

10*5

19*4

10*1

10*3

10*5

10*0

2-76

10*4

10*4

10*4

10*5

11*1

11*2

11*1

11*4

10*4

14*4

10*4

11*2

10*4

10*5

11*3

I.M

10*4

10*4

l«t* Utl lit* Utl lit? ■W 1
tt ft? Wtt Ut2

10*4

10.4

iit2 lit«

1-74

2-74

i-7 4

4—**

1-77

2-77

t-7 4

4-74

i-t t

2- n

4-75

3-7*

1-76

2-74

3-76

1•167*7
1*194*6
1*214*5
14*1

1*255*2
1*276*7

12*1

3-77

11*1

15*3

1*322*4

11*0 _1 2 * JL..lfi* l_
4-77

1-74

lttt?«7.

2-74

IN ITIA L QUARTER

PERSONAL C0NSUNPTI4N EXPENBITURES I I 1472 OOLLARS
compounded mmm. rates of cmm*
BILLIONS Of
oom yts
ANNUAL RATES

IN ITIAL 4UARTER

QUARTER
4-73
1-74
2-74

-1*1

1-74

2-74

4-74

2-74

1-75

2-75

3-75

4-75

1-74

2-T4

3-74

1-77

4-74

2-77

3-77

4-77

1-74

2-74

-2*2

741*4
0*1

741.7

2-74

0*1

1*3

2*4

4-74

-1*7

-1*5

-2*3

-7*0

-0*4

-0*4

-2*4

2*2
4*4

7*0

4*4

♦ tf

764*4
752*4

1-75

-0*4

2 -7 S

0*4

0*4

1*1

0*4

2 -7 2

It#

1*4

Itt

1*7

4-75

1*4

2*2___ 2*4

>-74

<
nU
1-77

ma
Mt»I

__b L

-lt>

frtt___

12
x—

___2±2_________l±fi___2±2___L i ___L ? ___I d .

#14*0

IMil

»#0

>>4___ L 5 ___ 2±1___ 2*2___ 2i2___ t i l

>♦0

)>5

>*4

>*1

>»4___ L i ___ 4*1___ ^ 4 ___ 2*7___ .A t » ________ 2*1___ 2*S___ 2±1___ ±*4___ £*!_

-2 -J 7

3*0

>«4

>#7

K l

4*»

5*2___ 2*$___ 2t0

2-12

3*1

>*5

»*7

K l

4*4

>>1___ 1*1___ 1*1___1*1___ l i l

4-77

>*4

3*4

4*1

4*2___ 2*2___ ?t f

_ lr U L

2*1

>»>

3*7

1*1

4 ,T ___ I t ? __________1*4

4*5

4*1

4*1

4*2

3*4

3*4

3*4

4*«___ 2*fi___ 1*2___ 1*2___ 4*7

4*3

4 «J

4*5___ 4*0

3*7___ 1*2___ 1*1------ 2*2

3*7

3*4

4*Q___ 4*1___V »

4*3

4*3

4*4___4*0

3*4___ 1*2___ 1*1___ 2*1------2*1------1*2_

-

2*4

770*2

774*7

*t*

2*5___ 3b1 ___ 2*ft___ L * 2 _ i * 4 _

- z i ¿ 1 i _M
I Z __ ± __2 2
_1*2___k <
>

757*2

_z2 _ 22
22_ *.
>" < 3*3
7
4 -T S

I-U




2 -U

I> t

* -U

>»4

4 -H

M ___ 2*1___ l i t

i-H

-2 * 1___ L I _ J i L
2t7___ Itft

f t? ___ Z*2_

I f l ___ 1*2___ 2*2___ 2*1___ 1*1_

? t l _ 2*2___ 2*2___ 1*1___ 2*1___ 2*1___ 1*2___ !♦#
_

> t 7___ 4*7
2 -H

i=»Tf

♦n*»
hii}
IHiO

I t l ___4*2___±*4___ 1*1___ 2*2___ 1*1_

4*4
i-T *

t -H

-------------------iN ttf A L

2 -ti

M i

♦*> ■ ttO

3*4___ 2*2___ 2*2___ 2*1

4 -H

1 -t t

i-t t

3- »

-1*4

4 -7 7

4*2

t —74

Mbl
ft2
tt

2-74

m Skm r------------------------------------------------------------------------------PRfPARCO I T fEOERAL RESERVE 4AW. Of ST* LOUIS
2 it 1474

15

4*0*S P*IVATt OONfSTIC SWESTWMT IN CUMtfNT OOLLAItt
____________________________________ ___________________ cowpouwoto mmiAL M m op chance________________________________ _______
m w t y i ________________________________________________________ 1 «ITIA L QUASTt*__________________________________________
Q
U
A
A
T
f
A
M
M
M
4 -7 »
1 -T 4

»-rr

J trJ I

L

1 -7 0

2 -7 0
217*3

-9 4

4 .9

»-7 4

-1 1 4

-4 .0

-1 5 .7

4 -7 4

-9 *1

-4 .2

-0 * 5

1 -7 5

- 1 9 .1

2 -7 5

2
- 1 7 * 0 - 1 5 . » - 2 0 . » — 1 *8 - > 0 . 7

2 1 4 .4
210*7
-0 .4

- I t . 2 -2 4 *7 -2 4 .9

2 10*4
177*7

-4 9 .1

175.2

-5 .5

»-7 5

-6 .2

-»♦ 2

-4 .0

-1 * 4

-2 .»

1 M

4 4 .1

4 -7 5

-6 .2

—* 6
»

-4 .9

-2 .4

-».1

2 0 .1

» .4

1 -7 6

0 .0 _

»♦ 2

1 *0

4 4

7 .4

2—
76

2 *0

5 *2

5 .2

8 .4

1 0 .2

»-7 6

2 .»

5 *9

5 .0

8 .4

1 0 *»

4 -7 6

2 *2

4 *0

4 .0

7 .»

8 *4

^2044
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203*9

4 5 .0

244

64*2

2 8 .7

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2 4 .»

4 2 .4

2 2 .4

2 5 .5

»2 .4

2 4 .8

1 1 .2

1 4 .5

1 4 .4

2 0 .7

2 5 .8

1 5 .»

2 1 .2

4 .1

»*4

»0 .»

231*5
243*5
2 44 .9
247*1

-4 .4

5*1

74

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1 4*0

1 2 .2

2 »4

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2 4 .2

2 4 .1

1 7 .7

14*2

1 4 .4

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2 -7 7

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2 4 .4

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2 0 .1

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2 1 .4

25« 1

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»8 .5

»-7 7

••1

1 0 .7

114

1 »*7

1 S .1

2 4 .4

28*8

2 2 *4

2 7 .0

2 1 .4

2 1 .2

2 ».4

»s a

2 4 .2

2 0 .5

4 -7 7

7 .9

1 0 *»

1 0 .7

1 »*0

1 4 .2

2 2 .4

2 4 .2

2 0 *»

24*0

18*4

1 8 *»

1 4 .4

2 4 .4

2 0 .5

1 2 .5

1 -7 7

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272*5
2 9 5 .6
3 0 9 .7
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313.5

1 -7 ®

••1

1 0 .4

1 0 .8

1 »*0

1 4 .1

2 2 .4

2 4*4

14*5

22*4

1 8.1

1 7 .5

10*6

2 3 .8

1 4 .4

12*4

0 *4

1 2 .3

2—
71

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1 1 .5

1 2 .0

1 4 .1

1 5 .2

2 2 .7

1 5 .4

2 0 .5

2 3 .5

14*5

1 4 .1

2 0 .3

2 5 .0

10.4

14 .1

1 5 .7

2 1 .4

3 1 .2

»-7 0

9 .1

1 1 *2

1 1 .4

1 »*4

1 4 .4

2 1 *4

2 »*8

14*2

21*8

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1 7 .4

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4 -4 4

1—
75

4 -* 4

4 -7 5

1 -7 4

2 -7 6

4 -^ 6

4 -7 4

1 -7 7

2 -7 7

3 -7 7

4 -7 7

1 -7 0

2 -7 0

3 2 2 .7
34 5 .4
350 .6

IN ITIA L Q UM TR

I M l y PHI VAT f CKM8ST1C INVCSTMEMT M 1972 DOLLAAS
COHWMHPt* » » U A L M T IS OP CNAWOi__________

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4 -7 »

1-74

1-74

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4-74

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2-74

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4-74

DILLIOff* OP

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1-74

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2-74

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»-7 6

4-74

1-77

2-77

4-77

4-77

1-74

2-74

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197*4
109.0

3-74

-2 1 .5

4-74

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2 -7 4

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1 -7 V

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176.6
170.6

1-75

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2-75

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-3*0

*-75

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44.4

744

4-75

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24.2

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1-74

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2-74
3-76
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134.6
133*3
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140*9

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214

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144

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24.1

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44.0

174*7
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173.4

1-77

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2-77

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144

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1.4

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4.3

17.4

24*2

14.4

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12.7

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14.4

224

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144

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114

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114

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4-74

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2-74

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3-70

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2-74

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44

4.5

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4-77

1-70

IN ITIA L OtMfcTCR

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200*3

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4-73
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2-75

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BILLIONS Of

4-75

1-76

___

2-76

3-76

4-76

1-77

2-77

3-77

4-77

1-76

2-76

__ wfcwmcANNUAL HATSS

14*4

2-74

1-74

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267*3
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297.8

3—74

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4-74

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14*3

13*7

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1-75

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12*7

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2-75

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11*5

10.•

308.0
317*5
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12*9

3-75

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10*5

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4-75

12*5

12*2

11*7

11*1

10*7

10*7

10*6

11*3

334.2

10*7

___________ 342*2
351*5

1-76

11*4

11*0

10*4

9*7

9*1

6*7

t*0

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2*9

2-76

10*6

10*2

9*5

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1-76

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9*5

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4-76

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1-77

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2-77

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1-77

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t*7

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4-77

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9*t

9*4

9*1

9*0

6*6

6*7

6*3

9*1

10*1

11*4

12.6

13*6

12*6

13.7

1-7B

10*0

9*7

9*4

9*0

t*7

t*5

6*4

6*2

7*9

6*5

9*2

10*2

10.9

11*1

9*7

6.6

354.0
3*7
360.4
366.3
9*6

375*0
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399.5

2—7t

9*9

9*6

9*3

t*9

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9*0

9*6

10*4

10*5

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3-76

10*1

9*9

9*6

9.3

:9*1

6*9

6*6

6*7

6*5

9*0

9*7

10*4

11*0

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4-73

1-74

2-74

1-74

4-74

1-75

2-75

1-74

4-75

i-76

2-76

1-76

4—76

1-77

2-77

3-77

412.5
41*.7

4*1
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4-77

424.7

7 .9

t*9^ 11*1
1-76

14*8

439*6

2-78

«OVtANNCNT PUACHASfS Of frOODS AND SfAV KIS III 1972 OOLLAAS
______________ COKfOMWiO »INMAL M K S Of CHANCI________________
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IN ITIAL QUAATtA

ÖÜÄtftfc
4-71

1-74

2-74

1-74

4-74

1-74

4*5
1*5

1*6

2*1

1*1

0*5

2*1

1*2

0*9

0*6

hi
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1*7

1*6

1*4

2*6

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♦

2*6

2-74

1-74

4-74

1-77

1*6

2-75

1-74

2-77

3—77

4-7 7

1-78

2-78

AWWUAL RATES

-0*1

1-75

4-75

1*4

4-74

1-75

2*2

1-74

2-75

6*6

2—74

1-75

*-n
4-75

254*2
257.6

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258.»
258*3
259.3
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261.6

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OISPOSA9LE PERSONAL INCOME IN CUAH ENT DOLLAAS
ÇQWPOUNOEQ ANNUAL AATES Of CHANS6_________

-

MILLIONS OP
COLLARS
ANNUAL HATES

J ü im L O iA â ltR

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10*5

7*6

9*7

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9*9

10*0

9*9

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10*6

10*9

11*7

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11*1

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2-79

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4 -7 7

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1 0 .0

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10*8

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9*9

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___ 1*170.6
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1 .2 2 1 .5
1*249.0

1.319.1
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i *159.6

1-76

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10*0

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9*9

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10*7

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11*0

11*5

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9 .8

2 -7 6

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10*2

10*2

10,1

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10*9

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10*1

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10.7

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11*5

11.7

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12.5

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2 -78

2-76

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1.4 3 3 .3

IN IT IA L OUAATEA

DISPOSABLE PfeASONAL INCOME IN 1972 OOLLAAS

Ç MON ^ » A ^
Q P U D p ffV V âlES

___

BILLIONS OP

IN IT IA L OUAATEA
QUAAtER

ANNUAL RATES
4 -7 1

1 -74

1 -7 4

2 -7 4

1-7 4

4 -7 4

1-75

2-75

1-75

4-75

1-76

2-76

1-76

4 -7 4

1-77

2-77

1 -77

4 -7 7

1-79

2-79

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2 -7 4

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-1 * 7

1 -7 4

-2 * 9

-0 * 9

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4 -7 4

843.1
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«35*1

_____ .

1-75

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-1 * 1

—2 5

2 -7 5

0*9

2*6

1*7

4*9

9*6

21*1

1 -7 5

0*1

1*1

1*9

2*4

4*5

9*2

-4*9

4 -7 5

0*6

1*7

2*2

2*7

4*4

6*9

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874*1

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971.7
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2 -7 6

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2*5

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1*6

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1 -7 6

1*2

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2*5

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4 -7 6

1*5

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2*7

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_ ...........

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900*9

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1 -7 7

1*5

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2*6

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2 -7 7

1*9

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4*1

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1 -7 7

2*1

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4 -7 7

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6 .7

6 .9

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1-7 9

2*4

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4*7

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1 .9

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4 .5

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L * i-

2 -7 «

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4 .1

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2 .1

1 -7 9

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1*9

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4*0

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4 .2

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4 -7 1

I -7 4

2-74

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4 -7 4

1-75

2-7*

1-75

4-75

1-76

2-76

1-76

4-76

1-77

2-77

3 -77




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5 .9

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911*2

952.1
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2 -7 «

IN IT IA L OUAATEA

PAfPAAGO 9V PCOCAAL AESEAVc BANK OF S T . LOUIS
NOVCNBEA 21, 1978

18

_

CORPORATE P R O F IT S
TAXES «
IQ X FO U N O gO A K N U A j RATES QF CHAN&C
4 1 L LlO fcfS OF
_ t e r n in a l _
QUARTER

ANNUAL RATES

4-71
Jr?4

1-74

2-74

1-74

4—74

1-75

2-75

1-75

4-75

1-76

2-76

1—74

*-74

1-77

2-77

*-7 7

*=3T. 1-7 1 .. 2-70

14*«

2-74

12*9

11.2

*-74

25.0

10.5

4-7*
1-75
2—75

7*1
-u a
—1*0

72.8
01*0

51*1

4*4

71*5

1*4 - » ♦ 2

54*1

—14*4 -2 4*» -44*0 -50*2
-7*2 -11*1 -24*0 -«2*0

42*0

44*4

74*4 111*4

70*1

1-75

7*0

4.7

5*0

-1*4

0*4

4-75

•«9

7*4

4*0

-0*7

4*1

50*5

54.5

11*0

1-74

12*1

11*0

12.2

4*5

14*5

50*4

51*1

24*4

50*4

2-74

12*7

12*5

12*7

7*0

14*5

41*0

41*0

25*1

12*4

00*1
04.0
42*4

14*2

1-74

1 1.«

11*5

11*4

7*2

14*5

15*4

14*0

14*2

21*0

4*4

4-74

10*4

10*0

4*4

5*4

12*0

20*9

24*0

14*2

14*0

4*0

41*1

1*1

42.2

-<►
*4 -1*0

1-77

u a

10*0

10*0

7*1

12*4

27*0

25*0

15*1

15*0

•♦4

4.0

2—77

1 2 .)

12*1

12*2

4*1

14*4

27*4

24*1

17*0

17*4

12.2

1-77

12*0

11*0

11*4

4*0

11*0

25*0

24*0

15*0

14*4

11*5

4-77

n a

10*4

10*0

0*1

12.4

21.0

21*2

11*0

14*0

1-7*

t .#

4*5

4*4

4*0

10*4

20*0

10*1

11*1

2 -7 «

11*4

11*1

11*4

11*2

15*2

24*5

21*1

1—T f

12*4

12*0

12*4

10*0

14*5

21*0

21*4

4 -ro

i-7 4

2—74

1-74

4-74

1-75

*-75

7*4

20*0

11*1

14*1

24*1

20*0

10*4

12*4

10*4

17*4

0*0

4.5

0*5

4*4

13*2

11*1

1*1

-1*5

11*9

7.1

5*4

4*1

0*5

5*0

-0*4

-1 .1

17*1

17*4

14*4

14*2

15.4

14*5

17*2

20*5

11*2

44.0

14*0

14*4

11*4

11*1 _14*5

17*4

14*4

14*7

14*4

21*1

42.4

9*1

1-75

4-75

1-74

*-74

1-74

4-14

1-77

2-77

1-77

4-7 7

1-70

2-70

44*5
102.0
104. A
104*4
-«* 5

102.1
IM .«

INITIAL QUART«
* NATIONAL tm o m

OASIS

M VlNOtA 2 # l n
O
1 t

SOURCES OF DATA
NATIONAL INCOME AND PRODUCT ACCOUNTS DATA
Source:

1929-72:
1973
1974
1975-77

U.S. Department of Commerce, Bureau of Economic
Analysis, Washington, D.C. 20230
The National Income and Product Accounts of the
United States, 19Z9-/4, A Survey ot Current Business
Supplement.
’
Survey of Current Business, July 1976.
Survey of Current Business, July 1977.
Survey ot current Business, July 1975.

The Survey is available from most district offices
of the Department of Commerce or from the Superintendent of
Documents, U.S. Government Printing Office, Washington, D.C.
20402.




19

122.OP

I N V E N T O R I E S COMPARED W IT H MONTHLY S A L E S *
M A N U F A C T U R I N G AND

72

T RADE

72

68

68

64

64

60

60

56

56

W

52

52

48

48

44

44

40

40
36

36
1964 1965 1966 1967 1968 1969 1970 1971
«R A T IO S

1972 1973 1974 1975 1976 1977 1978

BASED OH SEASONALLY AD JUSTED DA TA .

SOURCE:

U . S . DEPARTMENT OF COMMERCE

SHADED AREAS REP RESENT P E R IO D S OF B U S IN E S S R E C E S S I O H S .
L A T E S T DATA P L O T T E D :




SEPTEMBER P R E L I M I H A R Y
PREPARED BY FED ERAL RESERVE BAHK OF S T .

20

LO U IS

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