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nflTionoL Economi c t r e r d s
PREPARED

MONTH ENDING:

BY

M a r c h 31, 1967

FEDERAL

RESERVE

BANK

OF

ST. LOUIS

RELEASED:

A p r i l 2 7, 1967

R e c e n t data in d ic a te s o m e e c o n o m ic s tr e n g th s in c e
F e b r u a r y a ft e r a p a u s e la s t f a ll and w in te r . R e t a il s a le s s h o w e d
a la r g e ga in f r o m F e b r u a r y to M a r c h (P a g e 9) a ft e r d e c r e a s in g a t
1 p e r c e n t ann ual r a te f r o m S e p t e m b e r to F e b r u a r y . P e r s o n a l in c o m e
r o s e at an 8 p e r c e n t r a te f r o m S e p te m b e r to M a r c h (P a g e 8). T o ta l
sp e n d in g on g o o d s and s e r v i c e s r o s e a t an e s tim a t e d 2. 7 p e r c e n t
ann ual r a t e f r o m the fo u r th q u a r t e r o f la s t y e a r to the f i r s t q u a r t e r o f
th is y e a r in c o n t r a s t to a 7 p e r c e n t r a te o f in c r e a s e in the p r e v io u s
t h r e e q u a r t e r s (P a g e 2).
R e a l output, a ft e r r is in g a t a 3 . 5 p e r c e n t annual r a te
d u r in g 1966, s h o w e d v ir t u a lly n o n e t ch a n g e f r o m the fo u r th q u a r t e r
o f 1966 to the f i r s t q u a r t e r o f th is y e a r (P a g e 3 ). In d u s tr ia l p r o d u c t io n
d e c lin e d a t a 6 p e r c e n t a n n u a l r a te f r o m D e c e m b e r to M a r c h .
In d u s tr ia l P r o d u c t io n
P e r io d
A n n u a l R a te s o f C h an ge
A u g u s t 1 9 6 5 -M a r c h 1966
+ 10.6 %
M a r c h 1 9 6 6 -O c t o b e r 1966
+
5 .9
O c t o b e r 1 9 6 6 -D e c e m b e r 1966
+
0 .4
D e c e m b e r 1 9 6 6 -M a r c h 1967
6 .4
T o ta l c iv ilia n e m p lo y m e n t w as a b o u t u n ch a n g ed f r o m
D e c e m b e r to M a r c h c o m p a r e d w ith a 2 . 4 p e r c e n t i n c r e a s e f r o m
D e c e m b e r 1965 to D e c e m b e r 1966 (P a g e 5 ) . P a y r o l l e m p lo y m e n t
ch a n g ed lit t le f r o m J a n u a ry to M a r c h , a ft e r r is in g 4 . 6 p e r c e n t in
the p r e v io u s y e a r (P a g e 4 ). A v e r a g e w o r k w e e k in m a n u fa c tu r in g
d e c lin e d f r o m 4 1 . 5 h o u r s in S e p te m b e r to 4 0 . 3 in F e b r u a r y and
4 0 . 4 in M a r c h .
U p w a rd p r e s s u r e on p r i c e s has le s s e n e d w ith the s lo w d o w n
in s p e n d in g . C o n s u m e r p r i c e s h ave in c r e a s e d a t a 2 p e r c e n t r a te
s in c e A u g u s t w h ile w h o le s a le p r i c e s h av e d e c r e a s e d s lig h t ly . B oth
in d e x e s i n c r e a s e d a t a b o u t a 4 p e r c e n t ann ual r a te f r o m O c t o b e r 1965
to la s t A u g u s t (P a g e 11). The m a r k e d ch a n g e in p r i c e s c e n t e r e d in
a g r ic u lt u r a l c o m m o d it ie s and f o o d . In d u s tr ia l w h o le s a le p r i c e s h a v e
r is e n a t a 1 p e r c e n t r a te s in c e A u g u s t a ft e r g o in g up a t a 2. 8 p e r c e n t
r a te f r o m O c t o b e r 1965 to A u g u s t. C o n s u m e r p r i c e s o th e r than fo o d
h av e r is e n at a 3 p e r c e n t r a te s in c e A u g u s t c o m p a r e d w ith a 2. 7 p e r
c e n t r a t e in the e a r l i e r p e r io d .




2
GROSS NATIONAL PRODUCT IN CURRENT DOLLARS
_____ COMPOUNDED ANNUAL RATES OF CHANGE_____
TERMINAL
QUARTER
03-62

BILLIONS OF
DOLLARS

.IN IT IA L QUARTER

ANNUAL RATES
Q2-62 0 3 - 6 2 0 4 - 6 2 0 1 -6 3 0 2 - 6 3 0 3 - 6 3 0 4 - 6 3 01 -6 4 0 2 -6 4 0 3 -6 4 0 4 - 6 4 0 1 - 6 5 0 2 - 6 5 0 3 - 6 5 0 4 - 6 5 0 1 - 6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6 _____________

5,3

.564*4

04-62

572.0

01-63

4.9

02-63

4.9

4.7

5 7 7. U
5 8 4 *2

J l ,I___ Lai___ 4*_8-

03-63

Q-3
46

59*i .7
5« 7

5,8

5 .9

-

6 * 6-

6Q5-*_8_

_L*_5___ 7.«JL_

Q lr 6 4

.6-. Q

61
.

6.2

6.8___ 1*5___

02-64

6. 1

6.3

6.4

6.9

7-5

M6*8

__7*57 .5

7.4

627.7

03-64

6.2

6.3

6 .4

6 .9

7 .3

7.3

7.1

6.7

04-64

6.0

6. 1

6.1

6 .5

6.7

6.6

6.3

5.3

4..0

63 7.9
64 4.2

01-65

6.4

6 .5

6 .6

7.0

7.3

7 .3

7.2

7.1

7,>2

1 0 .7

02-65

6.5

6.6

6 .7

7.0

7.3

7 .3

7.3

7 .2

7,,4

9 .1

7.5

6 6 0 .f i

0 3 -6 5

6 .6

6.8

6 .9

7.2

7.4

7 .4

7.4

7.4

7..6

8.9

7 .9

8.3

8.9

9 .6

1 0 .9

9. 1

9.7

1 0 .4

67 2.9
686.5

04-65

6.9

7. 1

7 .2

7 .5

7.8

7.8

7.8

8.0

8 ..3

9.4

0 1-6 6

7. 1

7 .3

7 .4

7.7

8.0

8.0

8.1

8.3

fl,,5

9.5

02-66

7. 1

7.2

7.3

7.6

7.8

7.9

7.9

8.0

8 .,2

8.9

8.6

8.8

9.0

,1
8<

6.3

03-66

7.1

7 .2

7.3

7.6

7 .8

7.8

7.8

7 .9

8 .,1

8.7

8.4

8.5

8 .6

7.»6

6.8

0 4 -6 6

7. 1

7 .2

7.3

7.6

7.8

7.8

7.8

7.9

81,1

8.6

8.3

8.4

8 .4

7,>8

[7.1|

7.5

7.7

01-67

6 .9

7.0

7.1

7 .3

7 .4

7 .4

7*4

7.4

7..5

7 .9

7 .6

7.6

7 .4

6 ..8

6 .0

5 .9

5.2

704.4
72 1 .2

9.,9

< L 7J%
7

. 3

7 3 2.3

+2.7%

\

K

74 5 . 3
75 9 . 3
7 6 4 . 3P

P - PRELIMINARY
PREPARED BY RESEARCH DEPARTMENT
■FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 14, 1967

GROSS NATIONAL PRODUCT IN CONSTANT 1958 DOLLARS
TFRM INAL
QUARTER

BILLIONS OF
DOLLARS
ANNUAL RATES
0 2 -6 2 0 3 -6 2 0 4 -6 2 0 1 - 6 3 0 2 -6 3 0 3 - 6 3 0 4 -6 3 01 -6 4 0 2 -6 4 0 3 -6 4 0 4 -6 4 0 1 -6 5 0 2 - 6 5 0 3 - 6 5 04- -65 0 1 - 6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6
I N I T I A L QUARTER

03-62

4.4

04-62

U. 1

3.7

53 3 . 4

ü 1-6 3

3.4

3. Q

2 .2

02-63

3.5

3.2

2.9

538.3

.

5 41.2
3.6

5 4 6 .0

0 3-63

4. 1

4.0

4.1 _ 5.1

6 .5

04-63

4 .3

4 .3

4.4

5.2

6.0

554.7
5 .4

56 2. 1

Û1-6 4

4 .5

4.5

4.6

5.3

5.8

5 .5

5.5

02-64

4.7

4 .7

4.9

5.4

5 .9

5.7

5.8

6.0

569.7

0 3 -6 4

4.7

4.7

4.9

5 .3

5.7

5.5

5 .5

5».k_

4 .9
1.5
5.3

9.2

57 8. 1
5 8 5 .0

04-64

4.4

4.4

4.5

4 .8

5.0

4.7

4.5

4.1

3.2

0 1-65

4.8

4 .8

5 .0

5.3

5.6

5 .4

5.4

5.4

5 .2

02-65

4.8

4.9

5 .0

5.3

5.5

5 .4

5 .4

5.3

5*J _.. 1*2

7 .1

.5.1

G3-65

5 .0

5.0

5 .2

5 .5

5 .7

5.6

5.6

5.6

5.5

. 5*.7.

7.1

6 .1

7.0

04-6 5

5 .3

5 .3

5.5

5.8

6.0

5 .9

6.0

6.0

6.0

6.2

7 .5

6.9

7.9

8 .7

587.2
600.3
607.8
61 8 . 2
63 1.2

0 1-66

5.3

5.4

5 .5

5.8

6.0

5.9

6.0

6 .0

6.0

6 .2

7.2

6 .7

7 .2

7 .4

6 ..0

02-66

5. 1

5. 1

5.2

5 .5

5.6

5.6

5.6

5.6

5.5

5.6

6.2

5 .7

5.9

5 .5

3,

0 5 -66

5.0

5. 1

5.2

5.4

5.5

5 .4

5 .4

5.4

5 .3

5.4

6 .0

5.4

5.5

5.1

H .0

3 .0

04-66

5.0

5.0

5.1

5.3

5 .4

5 .4

5.4

5 .3

5.3

5.3

5.8

5.3

5 .4

5 .0

4,.1

(i.5")

4.3

4 .6

01-67

4 .7

4 .8

4.8

5 .0

5.1

5.0

4.9

4.9

4.8

4.8

5.1

4.6

4 .6

4 .2

3,.3

2 .6

2.9

2 .3

r \

64 0. 5

..

« .

5%

64 3. 5

4.0

649.9

v

i 07-

657.2
6 5 7 . 2P

P - PRELIMINARY




PREPARED BY RESEARCH DEPARTMENT

-

-.FEDERAL RESERVE BANK 0 F _ 5 I * LOUIS
APRIL 1 4 ,

1967

3

Ratio Scale
Billions of Dollars

Demand and Production

Ratio Scale
Billions of Dollars

Q uarterly Totals at Annual Rates
Seasonally Adjusted

800

+2.7%

800

+7.1%

750

750

700

700
657.2

650
Total Spending
+3.5%

600
+7.2%

550

550
+5 .4 %

Real P r o d u c t 12

500

500
o
2nd qtr.

450

___ ♦

4th qtr.

+0.3%
t
____

1959

1960

Istqtr.

±

II

1961

1962

1963

1964

1965

ill

1966

1967

U.GNP in current dollars.
Source: U.S. Department of Commerce
[2.GNP in 1 9 5 8 d o lla rs .
Percentages a re annual rates of change be tween quarters indicated.
Latest d a ta plotted: 1st quarter preliminary




Prepared by Federal Reserve Bank of St. Louis

450

4
TO TA L C I V I L I A N EMPLOYMENT
COMPOU NDE D A NNU AL R A T E S OF CH AN GE

TERMINAL
MONTH

THOUSANDS
OF PERSONS

I N I T I A L MONTH
08--65 09--65

10 -65

11-■65 12 -6 5 01--66 0 2 -6 6 0 3 -6 6

09-65
1 0 -6 5

1, 6
7 3

4. ?

3.9

1 2 -6 5

3. 7

5 i+

5.9

3 7

5, 0

5.2

5.

10 -6 6

11 -6 6

1 2 -6 6 C1 - 6 7 0 2 - 6 7

7

Q l-6 6

0 6 - 66 0 7 -6 6 0 8 -6 6 0 9 - 6 6

4, 6

1 1-<S5

0 4 -6 6 0 5 -6 6

1. 3 -

71.240
71 . 505

02-66

2 9

3. 8

3.5

03-66

7 3

2, 9

,2 .6

04-66

2,,6

3,,2

05-66

1..8

2. , 1

06-66

2..4

07-66
08-66

7 1 1 73 1
7 2 . 189
72 ,410

J

3. 4

1.3

1 2-

2, 3

.4

1 7-

2.9

?»,7

1.5

1 .8

1,,5

.2

2..8

2.6

2..4

1.5

1.. 1

2,,3

2.,7

2.5

2..3

1-6

1 ,,2

1.7

2.4

1.7

5.0

2. 0

2,,6

2,,9

2.8

2,,6

2.0

1 ,.7

2.2

2.9

2.5

5.0

3. 4

5.0

09-66

2,,4

2.,8

2.6

2,,5

1 .9

1.,6

2.0

2.6

2.2

4 .0

2. 6

2.9

.9

1 0 -6 6

7, , 3

2 (,5

1.7

14 5
,

1. 8

2.2

1. R

3.2

2. 0

2.0

.5

.1

1 1- 6 6

2,,9

,2

2.6

2,.5

2.9

3.4

3.2

4.6

3. 9

4.4

4.2

5 .9

12.1

12 -6 6

2,,7

3,,0

2.9

2.4
1

01-67

2,,9

3.,2

3.1

02-67

2,.6

2,.9

2.8

03 -67

2,. 1

2..3

2 .2

?,
.0

,7
.6 -

72.341
72 .266

1 .2 1 .7
.5 1.6

4.7
. 12 .6

72 ,542
+ 2.4%

4 .7 1.6

72 .253

8 .2

72.730
72,846
7 3 ,1 4 1
7 3 , 195
7 3 . 199
73.897

7, 2

2.6

^.0

2.8

3.9

3. 2

3. 5

3. 1

3 .9

5 .8

3,.0

2.6

?,.6

2.9

3.3

3 .2

4.2

3. 6

3.9

3.7

4*4

5.9

2.9

6.1

2,.7

2.3

?,.2

2.5

2 .8

2.6

3.5

2. 9

3. 1

2.7

3 .1

3 .9

1 .3

2 .0

1 .9 -

74 ,137

2.. 1

1.7

1 ,.6

1 .8

2. 1

1.8

2.5

1..9

1.9

1.4

1.5

1 .8

1 .8 -1

4 .0 -

7 3 ,747

2,.8

12 - U 1

73 . 893

.6 -

-.8%

74 , 255

PREPARED BY RESEARCH DEPARTMENT
FEDERAL RESERVE BANK OF ST . LOUIS
APRIL 12, 1967
PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
MONTH

THOUSANDS
OF PERSONS

I N I T I A L MONTH
08-■65 09-■65 10 -6 5

11-■65 12 -6 5 01--66 0 2 - 6 6 0 3 -6 6

09-65
10-65

4,,2

1 1- 6 5

5.,6

6.,9

6, , 1

7, , 1

8.1

7,, 6

10 -6 6

1 1 -6 6

1 2 -6 6 0 1 - 6 7 0 2 - 6 7

8.7

1 2 -6 5

0 4 -6 6 0 5 - 6 6 0 6 - 6 6 0 7 - 6 6 0 8 - 6 6 0 9 - 6 6

3,,2

61 , 180
6 1 ,437

5i 2

61,864
6 2 .2 4 1

( \

01-66

5.

6,,5

6.9

6,,0

02 -6 6

6.,0

6.,5

6.9

6..3

5.6

6.,8

62 ,469

03-66

6.,3

6.,9

7.2

6.,9

6 .6

7.,7

8.6

04-66

5, .8

6. , 7

6.3

5.,9

5.4

5,,8

5.^

6 2 ,8 1 1
63 ,247
2.0

63 ,350
+4.6%

05-66

5..5

5.,8

5.9

5.,4

5.0

5. ,1

4.6

2 .6

3.2

6 3 . 517

06-66

5.,9

6«,2

6.3

5,.9

5.7

5,,9

5.7

4 .7

6. 1

9.2

5,,4

5.1

5.,2

4 .9

4.0

4.6

5.4

1 , 7 \

64, 072

4.8

4,,8

4.5

3.7

4. 1

4 .4

2 .1

64 ,199

63 ,983

07-66

5,,5

5,,7

5.8

08-66

5,,7

5,,4

5.4

5,, 1

09-66

4.,8

4.,9

4.9

4,.5

4 .2

4,. 1

3.7

2.9

3.1

3 .1

1.2

.9

4i,6

4.3

4,,3

4.0

3.3

3.6

3.6

2.3

2.5

2.5

5.7

4.3

3.8

4.0

4.2

3 .2

3.6

3.9

6 .3

6 . 9 SSV\
5 .8

2.4
.6 -

64 , 168

10 -6 6

4,,8

5..0

4.9

1 1- 6 6

5..0

5.. 1

5.1

4., 8

4.5

4..5

1 2 -6 6

5, ,0

5, , 1

5.1

4, ,8

14. 61

4,,6

4.3

3 .9

4 .1

4.2

3 .5

3 .8

4 .2

5.8

4 .1

4 .3

4 .4

3.8

4 .1

4.5

5.8

64 ,466
64 .82 3
65 . 076

4.8

01-67

5,,0

5, , 1

5.1

4,,9

4.7

4..7 -

4 .5

5.8

5.3

. 02-67

4,,8

4ir 9

4.9

4,,6

4.4

4.,4

4.2

3 .8

4.0

4.1

3.5

3.8

4.0

4 .9

4.7

4.0

3 .6

1. 5

0.3-6 7

4.,6

4.,6

4* A

4..4

4.2

4.. 1

3.9

3.5

3.7

3.7

3.2

3* 3

3.5

4 .2

3 .8

3.1

[2 .6 |

1 .0

P-

^ 5 . 8 ^ Vsv^ L + ^ ,^ <
^

6 5 , 381
6 5 .4 6 3 P

.4

6 5 .4 8 6 P

PRELIM INARY




PREPARED BY RESEARCH DEPARTMENT
FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 1 2 , 1967

5

Employment
Ratio Scale

Ratio Scale

Percentages are annual rates of change between months in dicated.
Latestdata plotted:M arch prelim inary




Source: U.S. Department of Labor
Prepared byFederalReserveBank ofSt.Louis

6

INDUSTRIAL PRODUCTION
COMPOUNDED ANNUAL RATES OF CHANGE
I N I T I A L MONTH

TERMINAL
MONTH
0 8 -6 5 0 9 - 6 5

10-65

1 1-65

12 -6 5 0 1 - 6 6 0 2 -6 6 0 3 -6 6

19 57- 59 /

0 4 -6 6 05 -6 6 0 6 -6 6 0 7 - 6 6 0 8 -6 6

09-66

10-6 6

11-66

12 -6 6 0 1 - 6 7 0 2 - 6 7
144. 1

09-65

6 .4 -

1 0 -6 5

2.5

1 2 .3

1 1 -6 5

5. 1

1 1 .3

10.4

12 -6 5

8.7

1 4 .3

15 .3

2 0 .5

û 1- 66

9.7

1 4 .2

14 .8

1 7 .0

13 .7

02-66

10.6

14 .4

14 .9

1 6 .5

14 .5

1 5 .3

03-66

10 .6

1 3 .8

14.1

15 .0

13 .2

1 3 .0

1 4 5 .5
1 4 6.7
1 4 9 .0
1 5 0 .6
1 5 2 .4
1 5 3 .7

10 .7
1

DU-66

9.5

05-66

9 .7

06-66

9 .7

100

1 1 .9
1 1 .9
1 1 .6

1 1 .9
1 1.8

12.2

10 .2

9 .1

6 .1

X
1 .6

12. 1

10.5

9.7

7 .8

6.4

1 1 .6

11 .7

1 5 3 .9
1 5 5 .3

11.5

10 .3

9.7

8.3

7.5

10 .6

+ 5 .9 %

9 .7

1 5 6 .5
1 5 7 .2

07-66

9.3

11 .0

10 .9

10 .9

9.6

9.0

7.7

7 .0

8 .9

7.6

5.5

08-66

9.0

10 .6

10 .4

10 .4

9.2

8 .6

7.5

6 .9

8.2

7.1

5 .9

6 .3 ^ ^

09-66

8 .1

9 .4

9 .2

7.9

7.2

6 .0

5 .3

6.0

4.7

3 .1

1 .9

9. 1

1 5 8 .0
1 5 7 .7

2 .3 + .4 %

1 0 -6 6

8.2

9 .4

9 .2

9. 1

8.0

7.4

6.5

[5 ^1
1
I

6.6

5.7

4 .7

4 .4

3.5

11-66

7.5

8.6

8.3

8. 1

7. 1

6 .4

5.5

4 .8

5.3

4.3

3.3

2.7

1.5

3 .5

2 ^ M .

1 2 -6 6

7.2

8.2

7.9

7 .7

6.7

6.1

5.2

4.6

5.0

4 .1

3.2

2.8

1.9

3 .3

E E
1 1

01-67

6.U

7 .3

6.9

6 .7

5.7

5. 1

4.2

3.5

3.7

2.8

1 .9

1 .3

.3

1.0

1.7 -

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

1 .5 -

02-67

5. 1

5.8

5 .4

5. 1

4 .1

3 .4

2.4

1 .7

1. 7

.7

.4 -

1 .2 -

2 .4 -

2 .4 -

5 .2 -

6 .2 -

10 .5 -

03-67

4 .9

5 .6

5.2

4.9

4.0

3.3

2.4

1 .8

1 .8

.9

. 1-

.8 -

1 .7 -

1 .6 -

3 .7 -

4 .1 -

|6 .4 -|

1 4 .8 ^ \
6 .6 -

X
2. 41

15 8.2
156. IP
156.4P

P- PRELIMINARY_________________________________________________________________________________________________________________ ___________________
_
PREPARED BY RESEARCH DEPARTMENT
_____________________________________________________________________________________________________________________ FEDERAL RESERVE BANK OF _ST. LOUI S
APRIL 17, 1967




7

Industrial Production
Ratio Sc a le

Ratio Scale

Percentages a re annual rates of change between months indicated.
Latestdata plotted: March prelim inary
Prepared by Federal Reserve Bank of St. Louis




8
RETAIL SALES
' ' « I <O W
MILLIONS OF
DOLLARS

I N I T I A L MONTH

TERMINAL
MONTH
0 8 -6 5 0 9 - 6 5

10-65

11 -6 5 12 -6 5 0 1 -6 6 0 2 -6 6 0 3 -6 5

09-65

8.9

10 -6 5

20.5

33 .4

1 1 -6 5

1 9 .3

24 .8

1 6 .5

19. 1

12 .6

01-66

15.9

1 7 .7

12 .9

11 .0

13 .6

02-66

1 2 .8

1 3 .6

9.1

6.7

5.8

03-66

14 .6

1 5 .6

12 .3

1 1 .2

12.1

04-66

8.8

8.8

5.2

3.0

1.6

2 .1 -

5. 1

4.6

1.0

1 .4 -

3 .3 -

7 . 1-

8 .9 - 22 .5 -

09-66

10 -6 6

11 -6 6 1 2 -6 6 0 1 - 6 7 0 2 - 6 7

2 .4 - 2 4 .4 -

05-66

0 6 - 6 6 0 7 -6 6 0 8 -6 6

16 .8

1 2 -6 5

0 4 -6 6 0 5 -6 6
2 3,7 53

24 ,330
24 ,6 4 7
8.6

24 , 816
25,081
2 5 , 049

1 .5 1 1 .4

26.0

2 5 ,536
2 4 , 949
2 0 .6 -

24,475
.3%

06-66

9.3

9.3

6 .6

5.3

4.7

3 .0

4.2

2 .2 -

1 1 .2

07-66

8.3

8 .2

5.7

4.4

3 .8

2.3

3.0

2 .0 -

6.8

.3

7.7

1 9 .2

4.3

10 .4

m u

7 .4

1 5 .8

5 .0

8 .3

10 .9

1 .9

3.0

.5 - • * >
.6

2 .1 -

2 .9 ^ v ^ ,

2 .4 -

5 .1 -

4 .2 -

2 3 .8

2 5 ,394
2 5 ,362

1 .5 -

08-66

8.4

8.4

6 .2

5.0

4 .6

3.4

4.2

09-66

8.3

8.2

6.2

5.2

4.8

3 .7

4 .5

1 0 - 66

7. 1

7 .0

5.0

4.0

3.6

2 .5

3.0

. i

4.9
4.6

9 .5

2. 1

3.0

.2 -

.1

25,572
25,703

6 .3 ^

1 1-66

6 .8

6 .7

4 .9

3.9

3.5

2.5

3.0

.4

12 - 66

5.6

5 .4

3.7

2.7

2.2

1 .3

1 .5

.9 -

2.5

6 .3

01-67

6.2

6.1

4.4

3.6

3.2

2.4

2 .8

.7

4.0

7.5

2 .0

2 .6

1.1

02-67

5.7

5.5

4.0

3.2

2.8

2.0

2.3

.4

3.3

6 .4

1 .4

1 .9

.5

03-67

7 .6

7.5

6. 1

5 .5

5.3

4 .7

5.2

3.7

6.7

9.9

5.7

6 .7

6.1

25,550
' .6%

25 ,368

1 0 .8 -

■EE1
6.1

2.2

1 .8

1 6 .2

1 .0

.4

6 .5

8 .9

.2 -

25,610

10 .5

1 8 .6

25 , 687
2 .3 19 .9

2 5 , 636P
4 7 .1

2 6 , 474P

P- PRELIMINARY
PREPARED BY RESEARCH DEPARTMENT
FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 11, 1967
PERSONAL INCOME
COMPOUNDED ANNUAL RATES iOF CHANGE
TFRMTWAl
MONTH

TNTTIAI
08-•65 09-•65 10 -6 5

no- 6 5

n i-6 6

in. , 3

n ? -6 6

10,, 3

0^-66
fili-6 6

n i - ■6
6

02-66

03 -6 6

0 4 -6 6 0 5 - 6 6 0 6 - 6 6

0 7 - 6 6 08- • 6 0 9 6

66

in-

66

11 -6 6

in ., 9 -

1?~6 5

1 .,n
1
1?.,0
11..8

12-■65

BILLIONS OF
DOLLARS
ANNUAL RATES
1 2 -6 6 0 1 - 6 7 02- -67

38., 2

in -6 5

l i ­•65

MONTH

55 2 . 5
5U7. 2

,8

14-0

4. ,2

IP .7

l i . ,4

4., 2

9.«

5.,4

9 .9

in,,?

6., 1

9.8

7. ,8
8., 6
8.,8

9,, 3

5,, 7

ft- 7

7., 7

8,.0
6,,8

0S -6 6

8,.8

5..6

8.2

7., 3

6,,5

06-66

8,,9

6.,0

8.3

7..6

07 — 6
6

8,. 6
8,,9

i*i,.0

fi.1

7..4

6,, 5

fl.U

7.,8

7,.4

HQ-66

8,,9

6,. 8

fi .6

8,,0

1Û-6 6

9,.0

7,.0

8.6

8, ,2

1 1 -6 6

8,.9

7, , 1

8.6

8,

7i.9

8,, 1

11 -6 5

5 5 3 .2
55 8 . 2
560. ?

4.,4

10. 1
9. ,8

9-5

7,,6

6.^

7.■n

6.0

4 .3

5.4

6,.9

7.,4

6 .8

5.9

7.3

6r.8

7<
,2

6.6

5 .9

6.8

7. ,8

7.5

7 .1

B.O

8.9

7,.7

8,, 1

7 . ft

7 .5

8.4

7,.8

8,.2

8 .0

7.8

8,.3

8. 1

7,,8

8,,1

7.9

7,

56 4. 7

12 -6 6

8..8

7,. 1

8.5

01-67

9.,0

7,,4

8.7

8.,4

8«,1

8,,5

8 .3

57 0. 5
5 7 3 .0
9 .2

S7 7 . 2

9 .?

6.0
8.8 11.8
9.2
10.8

9,.9

8.6

9 .2

9.2

10 .3

9..6

9. 3

7 .9

8.6

9. 1

9.1

9.9

9.,3

9. 0

8..6

7.8

8 .3

8 .8

8 .7

9 .3

8..6

8.,2

7,,7

6 .8

8.2

8.7

9.2

9.2

9.7

9,.3

9.

9..1

9.4

... 7 . 6

58 0. n
5 8 5 .4
S9n. n
59 4. 4
59 8. 5
60 1.8
12 .0

6 0 7 .5

8,,7

02-67
_ 03-67

56 9. 0

_

7. , ?

8 .5

8., 1

7,,9

8., 1

8.0

7 .8

8.3

8 .6

8.6

8.9

8,.5

8.,2

7,.9

7.7

8.2

4.4

a.,6

7.

8.4

8.,0

7..8

8.,0

7.9

7 .8

8.2

8 .5

8.4

8.7

8,.3

8.,0

7..7

7 .5

7 .7

5.7

6 0 9 .7
6 .9

6 1 3. IP

P- PRELIMINARY




PREPARED BY RESEARCH DEPARTMENT
FEDERAL RESERVE RANK OF ST.. LOUIS
APRIL 18, 1967

.

9

Ratio Scale

Retail Sales

Ratio Scale

Percentages are annual rates of change between months indicated.
Latest data plotted: March prelim inary
Source: U.S. Departm ent of Commerce




Prepared by Federal Reserve Bank of St. Louis

10
CONSUMER PRICE INDEX •
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL_________________________________
________________________ IN IT IA L MONTH _______________________________________________________ 1 9 5 7 -5 9 ✓ 100
MONTH
0 8 -6 5 0 9 -6 5 1 0 -65 11 -65 1 2 -65 0 1 -6 6 0 2 -6 6 0 3 -6 6 0 4 -6 6 0 5 -6 6 0 6 -6 6 0 7 -6 6 0 6 -6 6 0 9 -6 6 10-66 1 1 -6 6 12 -6 6 0 1 -6 7 0 2 -6 7
0 9 -6 5

2 .2

1 1 0 .2

1 0 -65

2 .2

2 .2

1 1 -65

2 .2

2 .2

f\
i 2>

1 2 -6 5

2.8

2 .9

3 .3

4 .4

0 1 -6 6

2 .2

2 .2

2 .2

2 .2

.0

0 2 -6 6

2 .9

3 .1

3 .3

3 .7

3 .3

6 .7

0 3 -6 6

3 .1

3 .3

3 .5

3 .8

3 .7

5 .5

1 1 0 .4
1 1 0 .6
11 1 .0
1 1 1 .0

+3.7%

1 1 1 .6
11 2 . 0

4 .4

0 4 -6 6

3 .4

3 .6

3 .8

4 .2

4 .1

5 .5

4 .9

5 .5

0 5 -6 6

3 .2

3 .3

3 .4

3 .7

3 .5

4 .4

3 .6

3 .3

1.1

0 6 -6 6

3 .2

3 .3

3 .4

3 .6

3 .5

4 .2

3 .5

3 .3

2 .2

3 .2

0 7 -6 6

3 .3

3 .4

3 .5

3 .7

3 .6

4 .2

3 .7

3 .5

2 .9

3 .8

4 .4

0 8 -6 6

3 .5

3 .6

pTT]

3 .9

3 .8

4 .4

4 .0

3 .9

3 .5

4 .3

4 .9

3 .8

3 .7

4 .2

3 .9

3 .8

3 .5

4 .1

4 .3

4 .3

3 .2

3 .9

3 .8

4 .2

3 .9

3 .9

3 .6

4 .1

4 .3

4 .3

3 .8

0 9 -6 6

3 .4

3 .5

_
-1_
3 .7

1 0 -6 6

3 .5

3 .6

3 .7

1 1 -6 6

3 .3

3 .4

3 .5

3 .6

3 .5

3 .9

3 .6

3 .5

1 1 2 .5

3 .2

1 1 2 .6

3 .6

1 1 2 .9

3 .7

1 1 3 .3
1 1 3 .8
1 1 4 .1
4 .3

3 .5

2 .8

2 .7

1 .0

2 .1

1 .0

1 .6

.7

1 2 -6 6

3 .2

3 .3

3 .3

3 .4

3 .3

3 .6

3 .3

3 .2

3 .0

3 .2

3 .2

3 .0

2 .4

0 1 -6 7

3 .0

3. 1

3 .1

3 .2

3 .1

3 .3

3 .0

2 .9

2 .6

2 .8

2 .8

2 .5

1 .9

0 2 -6 7

2 .9

2 .9

3 .0

3 .0

2 .9

3 .2

2 .9

2 .7

2 .5

2 .6

2 .5

2 .3

1 .8

1 .5

0 3 -6 7

2 .9

2 .9

2 .9

3 .0

2 .9

3 .1

2 .8

2 .7

2 .4

2 .6

2 .5

2 .3

\us\

1 .6

*

1 1 4 .5

+7.8%

.8
1.1

i . i ^
.5

1 1 4 .6
1 1 4 .7

\

1 1 4 .7

.0

.7

.5

1 .1

1 .1

1 .1 ^ \

1 1 4 .8

1 .6

1 1 5 .0

2 .1 I

NOT SEASONALLY ADJUSTED
PREPARED BY FEDERAL RESERVE BANK OF S T. LOUIS
APRIL 2 6 , 1967

WHOLESALE PRICES* ALL COMMODITIES •
____________________________________________ ______________COMPOUNDED ANNUAL RATES OF CHANGE ___________________________________________________________
TERMINAL
MONTH

IN IT IA L MONTH
0 8 -6 5 0 9 -6 5

0 9 -6 5

1 0 -6 5

1 1 -6 5

1 9 5 7 -5 9 ' /

1 2 -6 5 0 1 -6 6 0 2 -6 6 0 3 -6 6 0 4 -6 6 0 5 -6 6 0 6 -6 6 0 7 -6 6 0 8 -6 6 0 9 -6 6

1 0 -66

100

1 1 -6 6 1 2 -6 6 0 1 -6 7 02--67

1 .2

1 0 3 .0

1 0 -6 5

1 .2

1 .2

1 1 -6 5

2 .4

2 .9

4 .8

1 2 -6 5

3 .5

4 .3

6 .0

7 .2

0 1 -6 6

4 .0

4 .7

6 .0

6 .6

5 .9

r \

10 3 .1
1 0 3 .5
1 0 4 .1
1 0 4 .6

0 2 -6 6

4 .9

5 .7

6 .8

7 .6

7 .7

9 .6

0 3 -6 6

4 .2

4 .7

5 .4

5 .6

5 .1

4 .7

.0

0 4 -6 6

3 .8

4 .2

4 .7

4 .7

4 .1

3 .5

.6

1.1

0 5 -6 6

3 .5

3 .8

4 .2

4 .1

3 .5

2 .9

.8

1.1

1.1

0 6 -6 6

3 .3

3 .5

3 .8

3 .7

3 .1

2 .5

.9

1.1

1.1

l.l'X v

1 0 5 .7

0 7 -6 6

3 .7

4 .0

4 .3

4 .2

3 .8

3 .5

2 .3

2 .9

3 .5

4 .6

8 .3

1 0 6 .4

0 8 -6 6

3 .8

4 .0

4 .3

4 .3

3 .9

3 .6

2 .7

3 .2

3 .7

4 .6

6 .4

0 9 -6 6

3 .5

3 .7

3 .9

3 .8

3 .5

3 .2

2 .3

2 .7

3 .0

3 .5

4 .2

1 0 -6 6

2 .7

2 .9

3 .0

2 .9

2 .4

2 .1

1.1

1 .3

1 .3

1 .4

1 .4

1 0 5 .4
\^ + 4 .3 %

1 0 5 .4
1 0 5 .5
1 0 5 .6

1 0 6 .8
2 .3
.8 -

.0
3 .3 -

1 0 6 .8
6 .5 -

1 0 6 .2

1 1 -6 6

2 .3

2 .4

2 .5

2 .3

1 .9

1 .5

.6

.7

.7

.6

.5

1 .4 -

3 .3 -

4 .9 -

3 .3 -

1 2 -6 6

2 .2

2 .3

2 .3

2 .1

1 .7

1 .4

.6

.6

.6

.5

.4

1 .1 -

2 .5 —

3 .3 -

1 .7 -

0 1 -6 7

2 .3

2 .3

2 .4

2 .2

1 .9

1 .5

.8

.9

.9

.9

.8

.4 -

1 .3 -

1 .7 -

.0

0 2 -6 7

2 .0

2. 1

2 .1

1 .9

1 .6

1 .2

.6

.6

.6

.5

.4

.6 -

1 .5 -

1 .8 -

.6 -

0 3 -6 7

1 .7

1 .7

1 .8

1 .6

1 .2

.9

.3

.3

.2

.1

.0

1 .0 -

h .8 -1

2 .1 -

1 .1 -

- 1 .8 %

*

1 0 5 .9

>

1 0 5 .9

1 .7

3 .4

.4

.6

2 .2 -

1 0 6 .0

• 6—

.8 -

2 .8 - Ì .

1 0 5 .7P

1 0 6 .2

NOT SEASONALLY ADJUSTED

P - PRELIMINARY



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 2 6 , 1967

11

R atio S c a le

1957-59 =100

Prices

R a t io S c a l e

1957-59=100

Percentages are annual rates of change between months in d ic ated .
Latest d a ta plotted: March p relim in ary
Source: U.S. Department of Labor




Prepared by Federal Reserve Bank of St. Louis

1
2
TOTAL BAMK CREDIT ALL COMMERCIAL BANKS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
MOMTH

y
MILLIONS OF
DOLLARS

I N I T I A L MONTH

08-65 09-65 10-65 11-65 12-65 I 1-66 02-66 03-66 04-66 05-66 06-66 07-66 08-66 09-66 10-66 11-66 12-66 01-67 02- 67
0
285.050

39-65

6.3

10-65

7.4

8 .5

11-65

8.7

10.0

287.000
289.600

11.4

12-65

9.0

10.0

10.7

9.9

31-66

9.8

10.7

11.4

11.4

12.8

02-66

9.2

9.8

10.1

9.7

9.5

03-66

8.7

9. 1

9.3

8.7

04-66

9,1

9.5

9.6

9.3

291.900
294,850
6.3

296.350

8.3

6.2

6.0

297. 800

9.1

7.9

8.7

11.4

300.500
302.750

05-66

9.1

9.5

9.6

9.3

9.2

8.3

8.9

10.4

9.4

06-66

9.4

9.8

9.9

9.7

9.7

9.1

9.8

11.1

10.9

07-66

9.6

10.0

10.1

10.0

10.0

9.5

10.1

11.2

11.1

12.0

11.6

38-66

9.3

9.6

9.7

9.5

9.5

9.0

9.5

10.2

9.8

10.0

8.8

6.2

09-66

8.5

8.7

8.7

8.4

8.2

7.7

7.9

8.2

7.6

7.1

5.4

2.5

1Ü-66

7.5

7.5

7.5

7.1

6.8

6.2

6.2

6.2

5.3

4.5

2.7

. 1- . 3 . 2 -

11-66

6.9

7.0

6.8

6.5

6.2

5.5

5.4

5.3

4.5

3.7

2.1

.2 -

305,700

12.4

308.500

12-66

6.8

6.9

6.7

6.4

6.1

5.5

5.4

5.3

4.6

3.9

2.6

.9

01-67

7.1

7.2

7.1

6.8

6.6

6.1

6.0

6.0

5.5

5.0

4.0

2.7

02-67

7.4

7. 4

7.4

7.1

6.9

6.4

6.5

6.5

6.0

5.6

4.8

03-67

7.7

7.8

7.7

7.5

7.3

7.0

7.0

7.1

6.7

6.4

5.8

310.050
n

>

\

-2 .2 %
---

309.750
308.400

5 .1 -\

i i— .1 2 . 8 1
.4 -

.1 -

2.1

2.9

3.9

3.5

4.5

5. 1

4.9

6 .0

308.300

.4 2.5
5.7

+70.7%

\
8.9

7.0

9.6

11.8

11. l \

8.4

fioTR

12.5

12.5

309,650
312.700

1 2 .5 ^ 1

1/ Data used are averages of end of preceding an* current month.

315.450
13. 9 1

318,900

PREPARED BV RESEARCH DEPARTMENT
FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 11. 1967_______________________

TOTAL LOANS ALl COMN€RCIAL BANKS l !
COMPOJMDED ANNUAL RATES OF CHANGE

MILLIONS OF
DOLLARS

I N I T I A L MONTH

TERMINAL
MONTH

08-65 09-65 10-65 11-65 12-65 01-66 02-66 03-66 04-66 05-66 06-66 07-66 08-66 09-66 10-66 11-66 12-66 01-67 02 -67
.09-65

11.4

10-65

11.5

184.700
11.6

186.400

11-65

11.5 _ 11.6

11.1

12-65

11.5

11.5

11.5

31-66

12.4

12.6

12.9

13.6

15.9

02-66

12.6

12.9

13.2

13.7

14.9

03-66

12*7

13.0

13.2

13.7

14.4

13.7

13.4

04-66

13.0

13.3

13.5

13.9

14.6

14.1

14.2

05-66

12.9

13.1

13.3

13.6

14.0

13,5

.Ul*Jl

. . l ü _ 1.3.1_ 14.1

188.100
11.4

189, 800
192.150
13.9

194.250
196.300
15.0

198.600

IJtJl.. 11.8

200.450

06-66

13.3

1.4.5.

141.2

14 a 3 _-14.-6... 1JU.4..._ 1 1 .1.

07-66

13.9

14.1

14.4

14.8

15.3

15.2

15.4

15.9

16.2

18.5

19.9

08-66

13.4

13.5

13.7

14.0

14.3

14.1

14.1

14.3

IJt.1

. 1 4 . a.

13.7

203.100
206.200
7.8

207.500

r v
N.

+1.6%

09-66

12.2

12.3

12.2... 12.4

12,5

12.1

11.0 ...

a
._1_Q 7_.

8.6

3.4

10-66

11.4

11.4

11-4

11.4

10.9

10.6

10.2

9.4

8.9

7.0

2.9

.6

11-66

.1Q*A_ I Q . .9 -J 0 . 8 _ IQ. 7

1Q.7.._._1Q*_2_ ..-9*8

9.3

8.5

8.0

6.3

3 .T

ï T ti
wï Bssr

a .^ _

7.8

7.2

S.6

3.0

1.8

2 .7

3.1

8.9

8.2

7.8

6.5

4.5

3.8

5 .0

6.0

8.1

8.2

7.8

6.7

4.9

4.4

5 .5

6.3

7.3

9.7

7 . 4 \

T.2 ..

6. 2

4.5

4.1

4.9

5.5

ETSl

7 .2

4.8

_

11.4

I Q . 3 -IQ.*2__ 1Q.1

IQ.Q... .. 9*5

01-67

10.5

10.4

10.3

10.2

02-67

10.3

10.2

IQ. L

03-J l7

9.9

9.8

9 . 1 ..

12-66

10.2
10.0

_

10.0

..

-9...Q

9.7

9.3

9.5

9.1

.........

.IÄ jJ

_3_*2_. U à

1/ for u n d are
DigitizedDataFRASER t v t r w of end of preceding and c u r m t «onth.


..

207.350

2 . l \
2 .8

207. 700
3.5

208.300
' 2.6 X .
7.3

i+ 6 .0 %

208.750

1 2 ^ ^

210.750
212.000
2 .3 1

212.400

PREPARED BY RESEARCH DEPARTMENT
FEDERAL RESERVE BANK OF ST. LOUIS
APRIL 1 1 . 1967_______ ___
_

13

Bank Credit
R a t io S c a l e
Billions of Dollars

R a t io S c a l e
Billions of Dollars

A ll C o m m e rc ia l Banks
Seasonally Adjusted

400

400

300

200

1959

1960

1961

1962

1963

1964

1965

D ata are averages for end of current and preceding month.
Percentages are annual rates of change between months in d icated .
Latest data plotted: March




1966

1967