Full text of National Economic Trends : April 1973
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nnnonnL PREPARED M O N T H E N D IN G : BY March 31, 1973 Economic t r c h d s FEDERAL RESERVE BANK OF ST. L O U IS RELEASED: April 24, 1973 Total spending for goods and services advanced at a 14.3 percent annual rate from fourth quarter 1972 to first quarter 1973. The rapid increase in total spending reflected a continuation of the strong pace of real economic activity recorded in 1972 and a more rapid rise in prices. Real product rose at a 7.9 percent rate from fourth quarter 1972 to first quarter 1973, compared with a 7.6 percent increase in the year ending fourth quarter 1972 and a trend rate of 3.8 percent from 1957 to 1972. Prices rose at a 6 percent rate in the first quarter, after rising 3 percent in 1972. Personal consumption expenditures increased considerably in recent months, rising at a 13 percent annual rate from third quarter 1972 to first quarter 1973. For comparison, consumer expenditures rose at a 9.6 percent rate from first quarter to third quarter 1972, increased 7.4 percent for the year ending first quarter 1972, and rose at a trend rate of 6.5 percent from 1957 to 1972. Gross private domestic investment rose at about an 18 percent rate in the most recent six-month period, little changed from the previous six months. Government purchases of goods and services rose at a 9 percent rate in the past six months, compared to a 5 percent rate for the previous six months and a 10 percent increase for the year ending first quarter 1972. The implicit GNP price deflator rose at a rapid 6 percent annual rate in the first quarter of this year, reflecting, in part, price adjustments following a Government pay increase and the termination of Phase II controls. In the first quarter of 1972, the GNP deflator displayed a similar pattern under similar conditions. This deflator rose at a 5.1 percent rate in the first quarter of 1972, due in part to a post-freeze wage and price rebound and a Government pay increase, then rose at a 3 percent rate on average for 1972. Upward pressure on prices is increasing, however, as evidenced by the 22 percent annual rate of increase in wholesale prices of all commodities in the first three months of 1973. The rapid rise in wholesale prices reflects the large increases in the prices of wholesale farm products (see pages 14 and 15) and a recent acceleration in the rise of wholesale industrial conmodities prices. Wholesale prices of industrial commodities rose at an annual rate of 10.3 percent in the first three months of 1973, compared with a 3.6 percent rise in 1972. 2 TOTAL CIVILIAN EMPLOYMENT C O M P O U N D F D ANN U A L RA T E S OF C H A N G E T F R M I N A l __________________________________________________________________ I N I T I A L M O N T H _________________________ ___________________ MOMTH " 8 9 - 7 1 1 0 - 7 1 11-71 1 2 - 7 1 1-72 2-72 3-72 4-72 1- 7 3 5- 7 2 6-72 7-72 8-72 9-72 10-72 11-72 12-72 THO U SANOS rtf R E A S O N S 2-73 9-71 79,476 10-71 4.0 11-71 3.9 3.9 12-71 2. 9 2. 3 0 .8 1-72 4.2 4.3 4.«* 8.4 2- 7 2 3.4 3.3 3.1 4. 2 0.2 3-7? 4.4 4. 5 4.7 6.0 4.8 9.7 4-7’ 3.8 3.7 3.7 4.4 3.? 4.7 5-72 3.8 3.7 3.7 4.-* 3.3 4.4 1 .8 3. 7 6-72 3.8 3 .« 3. 8 4.3 3.5 4. 4 2.7 4.1 4.4 7-72 3. 5 3. 4 3.* 3.8 3.0 3.4 2.1 ?.9 2.A O.A 8-7? 3.6 3 .5 3.5 3.« 3.? 3.7 2.5 *.2 3. 0 2.3 9-72 3. 5 3.4 3.4 3.7 3.1 3.6 2.6 3. 1 3. C 2.5 3.5 2.9 10-72 3.4 3.3 3.3 3.* 3.0 3.4 ?. * 2.9 ?• 8 2.4 ^ .0 2.5 2 .1 11-72 3.3 3.? 3. ? 3.A 2.9 3.? ?.* 2.H 2. 4 ? .3 ?.8 ?. 3 2 .0 12-7? 3.3 3.1 3.? 3.4 3.0 3.3 2.6 ?.9 ?.« ? •5 3. 0 ?• 7 2 .6 2.8 3.8 1-73 *. 9 ?.* ?. 7 ?.c ?. 5 2.7 ?.o ?.? ?.o 1.7 1.9 1.5 I. 1 0.8 0.2 -3.2 2-73 3.2 3. ? ?.l 3.3 ? .9 3.1 2 .6 2 .8 2. 7 2.5 ? •8 2 .6 2.6 2.7 2.9 2.5 8.6 3— 73 3. 7 ■*.4 3. 6 3.8 3. 5 3.R 3.3 3.#* 3. 6 3. 5 3.9 3. 8 4.0 4.4 5.0 5.5 10 .1 1 1.6 0- 7 1 10- 7 1 U-71 12-71 1-7? ?- 7? 1-7? 4- 7 ? 5-7? 6-7? 7-7 2 8-72 1 1 - 7 2 12- 7 2 1-73 2-73 8 79,738 79,987 80,040 80,579 80,594 81,216 - 0.1 81,209 81,458 IMîTtat 81,752 81,782 4.2 82,041 82,256 82,397 1.9 9-72 10-72 82,525 82,780 82,555 83,127 83,889 mpnth P R E P A R E D BY F Ê O F R A L R E S E R V E B A N K O F ST. L O U I S A P 9 I L 4, 1 9 7 3 O A Y P H I L F M P L Q Y M FNT C O M D O M M O P D ¿NNlIAt O A T T * OF '‘ HANGE T F 3 M I N U __________________________ _______________________________________ IMITI *t M Ç N T H _______________________________________________________________ ____ T H Q U S A N O S OF PERSONS MONTH ¿« 2 1 9 - 7 1 10-71 U - 7 1 l?-7l 1-7? 2 - 7 ? 3-7? 4 - 7 ? 5 - 7 2 6 - 7 ? 7 - 7 ? 8 - 7 2 9 - 7 2 1 0 - 7 ? 1 1 - 7 2 1 2 - 7 2 1 - 7 3 2 - 7 3 i V 70,843 9-71 5.1 X 1 0-71 2.7 0. 3 1 1 -71 3.2 ?.? 70,861 4. ? 71,103 71,291 12-71 3.? 2 .6 3.7 1-7? 3.4 3.0 4.0 3.8 4. 5 2-72 3.4 3.| 3.3 3.7 3.0 3-72 3.4 3.3 3.9 3.9 4.1 3.9 4.6 3.0 4.1 3.9 4.3 4.0 71,552 71,744 3 .3 72,011 72,246 4-72 3.6 3.4 3.9 5-72 3.9 3.7 4.2 4 .2 4.4 4.4 4.8 4.9 5.9 6-7? 3.7 3.5 3.9 3 .9 4.0 3.9 4.0 3.9 3 .8 1.8 7-72 3.3 3.1 3.4 3. 3 3 .3 3.1 3.1 2. 7 ’.3 0 .6 72,592 v+3.9% - 0 .6 72,699 X 72,661 8-72 3.5 3.3 3.6 3.5 3.6 3.5 3.5 3.3 3.1 2 .2 ’.4 5.5 9-72 3.4 3.3 3.6 3.5 3.5 3.4 3.4 3.3 3.1 2.4 2.7 4.3 10-72 3.7 3.4 3. 8 3.8 3.9 3.8 3. 9 3.8 3 .8 3 .3 3.7 5 .2 11-7? 3.8 3f7 4.0 3.9 4.0 3.9 4.0 4.0 4.0 3 .4 4.0 12*72 3.7 3.6 3.8 3.8 3.8 3.8 3. 8 3.7 3.7 3.4 3.7 1-73 3.7 3.6 3.8 3.8 3.8 3.8 3.8 3.7 3.7 3.4 3.7 72,984 <•2 *>.1 7.0 5.2 5.1 6 .1 5.2 4.6 4.3 4.7 3 .6 2. 1 ^ 4.4 4.? 4.4 3.6 2.8 4.7 4.5 5.7 7 . 8 ^ ^ 74.713P 4.8 4.3 4.1 4.8 5.4 74,901P 9-72 10-72 11-72 12-72 1-73 2-73 3.9 3 t8 4.0 4.0 4.1 4.1 4. 1 4.1 4.1 3.9 4.2 4.9 4.8 3-73 I T T ! 3.8 4.0 4.0 4.0 4.0 4.1 4.0 4.0 3.8 4.1 4.7 4.5 9 - 7 1 1 0 - 7 1 11 - 7 1 12-71 1-72 2-72 3-72 4-7? 5-72 6-72 7-72 8-72 8-71 73,176 73,589 73,899 7*, 0 2 6 74,245 3.6 3.1 ^ 2-73 INITIAL MO N T H PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS A PRIL 4 , 1973 3 EMPLOYMENT RATIO RATIO SCALE MILLIONS OF PERSONS SEASONALLY M I L L I ONS ADJUSTED SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR P E R I O D S L A TE S T DATA P L O T T E D : OF SCALE PERSONS U . S . D E P A R T M E N T OF LABOR INDICATED. MARCH P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . LO U'S 4 T M U U S !KI Al P K U Ü U C I 1 UN C C M P C U N D E O A N N U A L R A T E S OF C H A N G F TER M I N AI INITIAL MCNTH 1 9 6 7 = 100 -............ ... MflNT H ----------------------------------------------------------------------------------------------------------------------- ------------------;W1 9-7 1 1 0 -71 1 1 - 7 1 12 - 7 1 1-72 2-7? 3-72 4-72 5-72 6-72 7-72 8-72 9-7 2 1 0-72 11-72 12-72 1-73 2-73 9-71 107.1 10-71 7.0 -3.3 11-71 7.0 1.7 *v ; 7.0 12-71 7.3 3.« 7.5 « > 1-7 2 7.2 4. 5 7.3 7.5 6 > 106.8 107.4 10 8 . 1 108.7 ? - 7? 6.6 9.3 10.0 11. 0 3-72 7.8 IC.2 11.0 12.0 14.6 » > 111.2 112.8 110.0 4-72 10.4 9.3 11.6 1 2.5 13. 6 16.0 16.3 « > 5-7? <5.7 S. 7 10.5 11.1 11.7 1? .9 12.2 11.3 4.3 A-7? 3. 9 7.9 9.4 9.8 10.0 10.7 9.6 8.2 3. 2 -2.1 7-7 2 3.6 7.7 c.O 9.2 9.4 9.8 8.7 7.5 4.0 3.8 8-7? 9. 0 H. 2 9. A 9.7 9.9 10.3 9. 5 8.6 6.2 6.9 9.3 n > 9-7? 9.1 Ü. 4 9.5 9.8 10.C 10.4 9.7 9.0 7.2 7.S 9.9 12.2 io > 10.5 1C.9 10.4 9. 9 8.5 9.4 11 . 2 13.3 13.? 15.5 IC. 9 10.4 10.0 8.8 9.6 11.1 1 2.6 12.3 13.1 10.7 10. 1 9.7 8 .* 9.3 10.* 11. 5 11.1 1 1.1 9.0 10-72 9.6 K.9 10.0 10.3 11-72 <>•7 9.1 1C . 1 10. 3 10.5 12-72 9 .* 0.9 9.9 10.1 10.3 v+9.4% 113.2 113.4 113.9 5.4 115.1 116.1 117.5 118.5 119.2 7.3 1 -73 °. 4 a. a 9. 7 9.9 10.C IC.3 9.9 9. 5 8.5 9.0 10.0 10.8 10.3 10.1 8. 4 7. 3 7.3 2-73 9.4 8.9 9.7 9.9 10. 1 1C.3 9.9 9. 6 8.7 9.2 10. 1 10.8 10.3 10. 2 8.9 8.4 8.9 10.5 3-73 I 9.4 8.9 9.7 9.8 9.9 10.2 9.8 9.4 8.6 9 .1 9.9 1 0.4 10. 0 9.9 8 .8 8.3 8.7 9.4 iu- r i I 1-/1 12-U 1-72 2-72 3-7 2 4-7 2 5-72 6-72 7-72 4- J 2 11-72 12-72 1-73 a- f I 9- a 9-72 10-72 119.9 ^ 120.9P . _ 8 12 J_ 1 2 1 . 7P 2-73 INITIAL MCNTH F — Hvt:L I y ! N A « Y P R E P A R E Ö BY F E D E R A L R E S E R V E A P R I L 17, 1 9 7 3 Ö A N K C F St. T W I T 5 INDUSTRIAL RATIO PRODUCTION SCALE 1967*100 RATIO SEASONALLY ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER I OOS LATEST DATA P LO T T E D t SCALE 1967*100 INDICATED. MARCH P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 6 RETAIL SALES u — tn« nuc Tt RM INAL MONTH I N ITIAL M O N T H a-7i 9-71 9-71 10-71 11-71 12-71 1-72 2-72 3-72 4-72 5-72 M I L L I O N S OF DOUARS 6-72 7-72 9-72 10-72 8-72 li-72 12-72 1- 7 3 2-73 (217? 35,219 10-71 5.5 -6.4 11-71 1 1 .0 0 .2 12-71 2 .1 1-72 1 .6 2- 7 2 4.0 0.9 3.3 3-72 9.0 7. 1 4-72 7.2 5. i 34,964 2 3.1 35,574 -3.6 - 1.2 - 20 ? > X . 34,896 - 2 .8 - 0 . 9 - 11.1 34,886 1 7 . 0 \ -2.6 e.o 10.5 7.6 19.G 30.1 4 4 . 7 ^ 7.8 4.9 12.5 17.2 17.3 35,345 36,450 36,296 Tio.*yo 5-72 9.7 8. i 10.9 9.0 16.1 20.7 21.9 11.9 31.8 6-72 7.5 6. 1 b. 1 6.1 11.3 13.3 13.1 4 .1 9.0 -9.8 36,822 7-72 3.5 7.3 ‘ ■>.2 7.5 12.3 14.6 14.1 7.5 12.0 3.3 37,342 0-72 3.0 8.5 1 C. 4 9.1 13.5 15.0 15.4 10.3 14.5 9.2 20.2 9-72 8.2 7.2 3.7 7.4 ll. O 12.5 11.9 7.2 9.9 5.0 1 0.4 6.7 37,141 37,969 - 6. 8 \ 37,746 10-72 10 . 9 10 .1 11.8 10.9 14.6 16.4 16.4 12. A 16.1 13.2 19.8 20.3 19.4 1 1-72 9.3 B.4 Ï.9 B .b 12.0 13.3 12.9 9.5 11.7 8 .6 12.8 11.4 8 .1 16.4 1 2 -72 10.1 «.4 10 .« 9.9 13.0 14.2 14. 0 11. C 13.2 10.7 14.6 13.9 11.9 18. 9 4.9 1-7 * 12.3 11.5 12 . * 12.2 15 . 3 16.7 16.7 14.2 16.5 14.7 lfl.3 18.8 18.2 25.4 39,106 38,713 2 4 ^ l \ 39,417 17.4 35.2 47.2s 40,707 2-73 12.4 11.9 13.3 12.7 15 . 5 16.9 16.« 14.6 16.8 15.2 18.8 18.9 18.3 24.1 17.8 29.6 32.4 19.1s 3-7 3 I*».4 1 2. 9 14. 1 13.8 16.6 17.9 18.0 16.0 18.1 16.8 2 0.2 20.5 20.2 25.4 20.6 30.2 32.3 25.4 3 2 ^ 1 «-71 9-71 11-71 12-71 1-72 2-72 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 Pe- 10-71 4l,305P 42»274E pkeliminaky estimated P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F S T. L O U I S A P R I L II» 1 9 7 3 rnMPntiMftt-n PERSONAL INCOME annual rates of change B I L L I O N S OF DOLLARS ANNUAL RATES 1M ITIAI M O N T H \ jNTH a - 71 Q-71 1fi- 71 1 l-TI 17-71 1-77 7-77 4-77 ¿-72 5— 7.2 7-7? 8 — 7? 9-72 10-72 11-72 12-72 1-7? 2-T3 872.2 O — 71 L..U ir-7i /» .n 3. A 11-71 4 . ft S. 1 874.8 f,.5 879.4 890.4 1 7-71 7-5 ft-6 11-7 16-1 1- 7 ? «..4 Q.*> 11-5 14. 1 i n_ _ 898.9 12 . 1 908.5 î W. f t 1 IP- ft 13.A *-7? rt.Q Q -7 i i -n 17.1 in. ft 10-? 6.9 «— 7? R- R «Í.5 in-5 11-3 10. 1 9.4 7.4 Q.O ?-77 V-7 > _ 9 1 3 . 6 .. 919.4 7.>9 .. 9 2 4 . 0 R in.4 9.* 8.6 7.0 7.0 6.2 7-5 7 . ft 8.4 9.6 7.4 6.5 4.8 4«,1 2.3 -1.4 7-77 a -n ft.4 9-0 9. 3 «.3 7.7 6a,5 6.0 5.9 . 922.9 . . 912*9._ 13.8 940.0 q-77 ft.7 ft- 5 9.0 9.3 ft- 5 8.0 7^ 1 7,, 1 6.9 7. 1 11.6 9.5 Q-7 7 rt.p ft-A 9-a <1.3 8.5 8.1 7.3 7<,4 7.3 7.6 10.a 9.3 9.0 0 1 Ni V» ri-77 Ä-7? w. 3 9. 7 10-7 10-5 10.0 9.7 9.3 9„ifi 9.9 10.7 13.9 13.9 16.2 23.8 1 1-7? 1.7 ia . 1 1 Î-7 1 1 -n in.6 10.4 10.1 If), 10.8 11.6 14.4 14.6 16.3 20.1 16.6 17-7 ? 0-7 in . n i n.5 in.ft 10-4 10.2 9.9 10i,2 10.5 1 1.2_ 13.4 13.3 14.3 16.1 12.5 8.6 Q. A io.o 10.^ 9-9 9.7 9.3 9<.6 9.8 10.2 12.0 11.7 12.1 12.9 9.5 6.2 3.9 7.3 10.8 9 9 4 . 5P 8 **__ . 1 , 0 0 1 . 2P 1 — 7^ 2-7“ * ->.— 71 .4 9-7 o. * 8-71 9-71 946.8 963.8 976.2 982.9 986.0 1Û- l in.3 Q-<3 9.(1 9.5 9.7 9.9 10.3 11.9 11.6 11.9 12.5 9.9 7.7 i n. n in. 7 Q. A 9.7 9. 4 9..6 9.7 1 0 .1 11.5 1 1 .2 11.4 11 .8 9.6 7.9 7.7 9.6 10-71 11-71 12-71 1-72 2-72 3- 72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 INITIAI 2-73 MONTH P- P R l I I M I N A - Y PREPARED BY FEOERAL RESERVE BANK OF ST. .APRIL 18, 1973 LOUIS 7 RETAIL SALES R A T I O SCALE 1965 R A T I O SCALE 1966 1967 1968 1969 1970 v 1971 S O U R C Ei PER C E N TA G ES ARE LATES T PLO TTED : DATA ANNUAL R AT ES OF CHANCE FEBRUARY FOR PE R IO D S PR E L IM IN A R Y . PERSONAL TRILLIONS MONTHLY OF DOLLARS 1972 1973 D EPA R TM EN T OF COMMERCE I N D IC A T E D . MARCH ADVANCE P R EP A R E O R A T I O SCALE U .S . E S T IM A T E 8 Y FE D E R A L R ES ER V E BANK OF ST* L O U IS INCOME R A T I O SCALE T O T A L S AT A N N U A L R A T E S TRILLIONS SEASONALLY ADJUSTED OF DOLLARS 1. 1 1.0 0.9 0.8 0. 0.7 0. 0.6 0. 0. 5 0.4 SOU RC Ei PERCENTAGES ARE A N N U A L LATEST PLOTTED: D AT A RATES OF CHANGE FOR P E 3 . 0 C S U.S . DEPARTM ENT Of COMMERCE IND.CATEQ . MA RCH P R E L I M I N A R Y PRE PARED 8Y FEDERAL RESERVE B AN K JF Si . L O U IS 8 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 P O 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 & K M I N AL --- û l i a r t h a INITIAL 2-68 3-63 4-68 1-69 2-69 3-69 4-69 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 3-72 2-72 7.d 7. 0 1-69 7.8 /.'♦ 7.8 2-69 7.7 7.4 7.6 3-69 7.3 7.6 7.8 7.8 8 .1 1 o O' 875.2 4-68 7.0 ft.7 6 .6 6 .2 5.6 P ' s • 3.1 1-7 0 6.5 6 .? 6 .0 5.6 5.0 3.5 3. 9 2-70 6.5 6 .2 6 .0 5.7 5.2 4.3 4.9 3-70 6.4 6 .2 6 .0 5. 7 5.4 5.9 5.6 5 .4 5.1 4.7 1-71 6 .6 6.5 t>.4 6 .2 2-71 6.7 0 .0 6.5 6.4 3 -71 6.3 * 1-70 .MJLL1QI4S OF. DOLLARS tINMI 1AI R A T E S 4-72 8•6 1 °i 3-6b QUARTER 890.2 907.0 7.5 923.5 941.7 948.9 +4 . 1% \ 958.0 5.8 971.7 5. 3 6 .0 6 .1 ED 4.3 4.4 3.7 6 .0 5.7 6 .2 6 .8 7.2 7.7 14.3 6.3 6 .0 6. 5 7.0 7.3 7.7 1 1 .1 7.9 6 .2 5.9 6.4 6 .8 7 .0 7.2 9.2 6.7 5.4 7.0 7.2 7.4 8.9 7.2 6 .8 4.7 1------ 1 \ 986.3 1.4 989.7 1,023.4 1,043.0 Ì7Ò56.9 6 .6 0.5 6.4 4-71 6 .8 6 .6 6 .6 6.5 6.4 6 .2 6 .6 1-72 7.1 7.0 7.0 6.9 6.9 6 .8 7 .2 7.6 7 .9 8 .1 9.5 8.4 8.5 1 0 .1 1 2 .0 2-72 7.4 7.3 7 .3 7 .3 7.3 7.2 7.6 8 .0 8.3 8.6 9.8 9.0 9.2 10.5 11.7 11.4 3-7 2 7.5 7. 4 7.4 7.4 7.4 7.3 7.7 8 .1 8.4 8 .6 9.7 9.0 9.2 10*1 1 0 .8 10 .1 8.9 8.9 9*9 I1-----9.4- 1 1 0 . 4 9.3 9.5 10.3 10.8 10.4 10 .0 1 1 .0 9.9 1 0.2 1 1 .0 11.5 11.4 11.4 12.7 4-72 7.7 7.6 7.6 7.6 7 .6 7.6 e.o 8.4 8 .6 1-73 a.o 8 .0 8 .0 8 .0 8 .1 8 .1 8.5 8 .8 9.1 4-69 1-70 .¿.-.¿a - 3 - 6 8 -ArAfl . ■¿-69 . + 10 . 4 % 8.3 1,078.1 1,109.1 \ 1,139.4 1,164.0 JLzZfi.- 3 r7 P . -1-7Q - i r l i . ■ Jtr.ll, J b T i ,- i r l i ___ I z l L - JLr.ll..U m n 1,194.9 \ 14.3] 1,235.5P b l L -*=12 *K Q U A R T S P — -PR! LI H IN AftY m r m p bank of,$t, vquis A P R I L 1 9* 1973 G R O S S N A T T O N A I P R O D U C T ÌW C A N S T A N T 1 9 5 8 D O U A R S C O M P O U N D E D ANNUAL RATES OF C H A N G E BILLIONS O f OOLLARS INITIAL QU A R T E R TERMINAL 2-68 3-68 4-68 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 712.3 3-68 4.0 4-68 3.2 2.4 716.5 1-69 3.2 2.9 3.3 2-69 2.9 2.5 2 .6 722.4 725.8 1. 9 729.2 3-69 2.7 ¿«4 2.4 1.9 4-69 1.9 1.4 1.2 0.5 1-70 1 .2 0 .8 0. 4 -0.3 - 1 .0 -2.4 - 2. 6 2-70 1. 3 0.9 0.6 0 .1 -0.4 - 1 .1 -0.5 *• 9 r \ - 0 .2 1 - 2 . 2 ' 725.1 1 OWL 720.4 723.2 1,6\ 726.8 3-70 1.3 1 .0 0 .8 0.4 0 .1 -0.3 0.3 1 .8 2 .0 4-70 0.7 0.4 0 .1 -0.3 -0.7 - 1 .2 - 1 .0 -0.4 -1.4 1 -71 1.4 1 .1 0 .9 0.7 0.5 0 .2 0.7 1 .6 1 .6 1.4 2-71 1.5 1. 3 1 .2 0.9 0 .8 0.7 1.2 1.9 2.0 2 .0 5.6 3-71 1 .6 1.4 1.3 1 .1 1 .0 0. 9 1.4 2 .0 2 .1 2 .2 4.6 1.5 2 .0 2.7 2.9 3.0 5.1 -4.8^ 718.0 731.9 1 8 .0 * 737.9 25 \ 742.5 +6.5% 4.5 6 .6 754.5 1 .8 1.7 1 .6 1 .6 2 .2 2 .1 2 .1 2 .0 2 .0 2 .0 2.5 3« 2 3.4 3.6 5.4 5.2 6 .6 6.5 ^ ^ 2.7 2 .6 2 .6 2.5 2 .6 2.7 3. 2 3.8 4.1 4.4 6 .0 6.2 7.5 7.9 9.4s 783.9 6 .1 796.1 4-71 1.9 1- 7 2 2-72 766.5 3-72 2.9 2 .8 2 .8 2 .8 2.9 3. 0 3.5 4.1 4.4 4.7 6.3 7.2 7.4 7.9 4-72 3.2 3.1 3.2 3. 2 3.2 3.3 3.8 4.4 4.7 5.0 6.3 6 .6 7.4 7.6 7.9 7.2 8 . 0 " "v. 811.6 1- 7 3 3.4 3.4 3.4 3.4 3.5 3.7 4.1 4.7 5.0 5.3 6.5 6.7 7.5 7.6 7.9 7.4 7.9 8 2 7 . IP 2-68 3-68 4-68 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 2-71 3-71 4-71 1-72 2-72 3-72 1-71 7.9| 4-72 INITIAL QUARTER P- P R E L I M I N A K V P R E P A R E D BY F E D E R A L R E S E R V E A P R I L 19, 1 9 7 3 B A N K O F ST. L O U I S 9 DEMAND RATIO SCALE 1965 1966 1967 I N CURRENT OOL l ARS. £GNP I N 1 9 5 6 DOLLARS. PERCENTAGES ARE A N N U A L LATEST PLOT TED: PRODUCTION TOTALS AT QUARTERLY U.6NP DATA AND 1968 1969 ANNUAL 1970 SOURCEi RATES 1ST OF QUARTER CHANGE FOR P E R t O D S RATIO RATES 1971 U.S. 1972 SCALE 1973 DEPARTMENT OF COMMERCE IN DICATED. PRELIM INARY PREPARED BY FEDERAL RESERVE BANK OF ST . LOUIS 10 C O M P E N S A T I O N PEU M A N - H O U R , T O T Al P R I V A T F E C O N O M Y __________ f O M P P U N P F D ANN U A t P A T E S OF C H A N G E ___________ TERMINAI QUARTER 2- 6 * 4-68 1-69 1 3-68 M ? - 6* 4 I N ITIAI 1- 6 * 3-69 4-69 1-70 QUARTER 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 7.5 106.3 3-68 4-68 1-69 108.6 fl.B . «. 7 __ !.«• — 7 i 2 - 7.3 5.0 ..J jl fe. 7 afl 9.1 „Q il, 110.9 112.5 2-69 7.« 7.9 3-69 7*7 7.9 7.5 7.0 7.6 7.2 5.1 a..o 7.B 8.4 8. 5 4-69 114.7 1-70 7.9 7.9 . 7*3. _ J * 6 . 8 .0 .. ÜM.H 2-70 7• 7.7 7.5 7.3 7.6 3-70 7 .« 7.9 7.8 7. 6 116.7 9.9 119.5 8.4 4.9 7.« 7. 6 6.5 6 .1 7.9 7- 9 a .i 7.4 7.7 9.4 121.5 123.3 126.1 4-70 7.* 7.6 7.5 7.3 7.5 7.4 7.5 6.9 A. 9 7.3 5.2 1 -71 7.7 7. a 7.7 7. 5 7 .7 7.7 7.8 7.4 7.5 8.0 7.3 9.4 2-71 7.6 7.6 7.5 7.4 7.5 7.5 7.5 7.1 7.2 7.5 6 .8 7.7 5.9 127.7 132.5 3-71 7. 5 7*5 7.4 7.2 7.4 7.3 7.3 6.9 7.0 7.1 6 .6 7 .1 5.9 5.9 4-71 7.3 7.3 7.2 7.0 7*1 7.1 7.0 6.7 6.7 6 .8 6 .2 6.5 5.6 5.4 4.8 1-72 7.4 7«_4 7.3 7.1 7.3 7.2 7.2_ 6.9 6.9 7.0 6 .6 6.9 6.3 6.4 6.7 134.4 136.0 8.5 138.8 *-72 7.3 7. 3 7. 1 7.0 7.1 7.0 7.0 6 .8 6.7 6 .8 6.5 6.7 6 .1 6 .2 6.3 7.0 5.6 3-72 7.1 7.1 7.0 6.9 6.9 6 .8 6 .8 6.5 6.5 6.5 6 .2 6.3 5.8 5.8 5.8 4.1 5.0 4.3 4-72 7.2 7.1 7.0 6.9 7.0 6.9 6 .*_ 6.7 6 .6 6.7 6.4 6 .6 6 .2 6 .2 6.3 6 .6 4.0 6 .2 8 .1 1- 6 « 2-68 3-68 4-6« 1-69 2-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 3-69 INITIAI 140.7 142.2 145.0 QUARTER 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 OF ST* L O U I S M A R C H 2, 1 9 7 3 O U T P U T Pf* MA N - H O U R * TOTAL PRI V A T E E C O N O M Y C Q M P J U N O E Q A NNUAI R A T E S O F C H A N C E _______ INITIAL QUARTFR tfrminal \ w QUART** 1-68 2-68 _ V h S8_ 2-68 3-68 4-68 1-69 2-69 3-69 4-69 1-70 2-70 1-70 4-70 1-71 2-71 3-71 »-71 1-72 2-72 « m 3-72 _____________________;________ :____________________________________________________ ;------------------------------------------------------------- . 1Q2.T 1Q3.3 * - 6« 4-6« 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 t-7i 2-71 3-71 4-71 1-72 2-72 3-72 INITIAL QUARTER PREPARED BY FEOERAL RESERVE BANK OF ST. MARCH 2 , 1973 LOUIS 11 PRODUCTIVITY, CO M PENSATION, AND LABOR COSTS R A T I O SCALE R A T I O SCALE SEASONALLY ADJUSTED 1 9 6 7 -1 0 0 1 9 6 7 -1 0 0 80 11---- 11---- ----- ---- "--------------------------1965 1966 1967 1968 1969 1970 1971 1972 1973 SOURCEi U.S. OEPARTNENT OF LAROR PERCENTAGES ARE ANNIIAg. RATES OP CHANOE FOR PERIODS INDICATED. LATEST DATA PLOTTEOi 4TH QUARTER PREPAREO «Y FEOERAL RESERVE RANK OF ST. LOUIS I J NT T L A R n ? C ^ S T S , T O T A I. P R I V A T E E C O N H M Y 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 3-69 4-<&9 1-70 ID U A R T E ? 3- 7 0 1967 - 4-70 1-7 1 1 2-69 ^4 1-6 9 1 4-6P M >-f ? 1-*»° 1 o 1 NIT f Al OIHOTF» 4-7! 1-7 2 2-72 4.0 '♦-A 8 1-6 1 O 1-70 103.5 r*. 1 '>.3 S.'? *.7 7.0 6 . r' 6.6 6. * A.* 6 . r' 7. 1 7.4 7.6 R.7 ‘ •.7 7.? 7.4 7.^ ?.l 7.4 T #-» 7,* *. 1 8.3 3.0 9.0 10.7 7. A 7.0 «. 1 P.4 P ,8 9.9 9.6 109.1 106.9 108.6 110.9 112.9 115.8 R 118.2 ?-?0 6.’ 7.1 f.7 7.? 7.4 7.0 6.9 «J,il * -7 6.^ 6. '» ‘.6 6.* A .5 4.1 5.8 4,> 2 ?.o 2.4 6. 6 6 .7 6.6 6.6 6.3 6.0 4.9 3.7 4.e 7, 1-M 6, 0 6 ,-> 6.1 6.0 6.0 5.6 5.3 4,.3 3.? 3.7 4.4 1.7 ?-7l 5.9 "<.0 S. 9 5.R *5.8 5.4 5.1 4, 3.4 3.8 4 .3 2.8 1-T1 •5.A ^.7 5,6.. 5.5 5.4 5.0 4.8 3,.9 3.2 3.5 3,.8 ?.6 3.1 2-3 > v 4-71 . •5,3 «>.3 **.3 *.1 5.P 4.6 4.3 3, 2.9 3.1 3 .2 2.2 2.4 1.6 1.0 1-7» 5,? S.3 5 .? 5.1 5.0 4.7 4.4 3,,7 3.1 3. 3 3,.5 7.5 3.0 2.7 2.9 4.9 ?-7 ? 4. 0 4. 1 4.7 4.6 4.2 3.9 -at, 2.7 2.8 2 ,.9 2.2 2.3 1.9 1 .7 2.1 -0.6 3-7-» 4.6 4,f 4.«) 4.4 4. 2 3.9 3.6 3,i O 2.4 2.5 .5 1.9 1 .9 1 .5 1.3 1 .4_ -0.3 0.0 4-7? 4. 'f.6 4.S 4.3 4.? 3.8 3.6 3,.0 m 2.6 2,.6 9.0 2.1 1.8 1.7 1.9 0.8 1.6 3.2 ?-f A 3-6 3 4-6H i- 69 2-69 3-69 4-69 2-70 3-70 4-70 1 -71 4-71 1-7 2 2-72 3-72 c‘ l-s? r 1-70 121.5 122.0 4.0 s^ + 2 .5 % 123.2 >** t 4-7() 118.7 119.4 I n 100 3-72 123.9 124.2 125.7 125.5 125.5 1 126.5 INITIAL CUAPTFQ P R E P A R E D RY F E D E R A L R E S E R V E B A N K OF ST. L O U I S M A R C H 2, 1 9 73 12 CO N S U M E R P RICE INDEX, S E A S O N A L L Y A D J U S T E D C O M P O U N O t O A N N U A L R A T E S OF CHANGE: T P R M I M A L ______________________________________________________________ I N I T I A L M O N T H ___________________________________ _ _ MONTH 8-71 9-7 1 10-71 11-71 12-71 1-72 3-72 6-72 4-72 5-72 2- 7 2 7-72 8-72 9-72 10-72 11-72 1967 » 100 12 - 7 2 9-7 I 1 2 2 . 2 0 ____ ---------------- 10-71 1.3 1.9 11-71 1.9 2. 1 122.62 1 2 3 . 0 0 ______ 2.4 2.0 3.0 3 > ^ 1-72 2.6 2. 9 3.2 3.7 \ T i , / /o 3.6 2 - 72 3.4 3. 7 4. I 4.U 5.3 7.0s 3-72 2.9 3. 1 3.4 3.7 3.6 3. 7 W 2 2.8 3.0 3.2 3.3 3.2 3.1 1.2 2.0s 5-72 2.9 4. 1 3. 3 3.5 3.4 3.3 2. 1 3 .C 4. O ' 3.3 3.2 3.2 2.4 3.0 3.3 2 .9 5.1s 3.3 3.2 3.2 2.5 3.0 3.2 2.9 4.1 3. 0 s" 3.0 3.5 3. 5 3.0 3.4 3.7 3.6 4 .6 4.3 7 - 72 2.9 3.1 3.2 8-72 2.9 3. 1 3.2 10-72 3.2 3.3 3.4 3.5 3.5 3 .5 3.1 11 -72 3.2 3.3 3.4 3.5 3.5 3.5 3.1 3. 4 3.0 3.3 3.4 124.79 2.2 3.1 3.2 124.72 1.8 3.0 1 2 - 72 124.31 2.a 2.8 3.4 124.10 0.4s 2.9 2.7 3. 3 123.36 124.06 2 .3 6- 72 3.2 __1 2 2 * 3 9 ------- 12-71 9-72 2-73 1-73 3.4 3.4 o > . 125.31 125.62 126.20 3.7 3.6 4.4 3.4 3.6 3.6 4.2 3.9 4.2 3.5 3 . 3 V 3. 3 3.5 3.4 3.9 3.7 3.8 3.2 2.9 3.5 4.1 4.7 3.8 .+5.5% 1 2 6 . 5 9 __ 126.93 2.6 127.20 127.87 1-73 3.4 3.5 3.6 3.7 3.6 3.7 3.4 3.7 3.8 3.8 4.3 4. 1 4.4 4. 0 4.1 4.5 6 . 5 \ 2-73 3.7 3.8 3.9 4.1 4. 1 4.1 3.9 4. 2 4.4 4.5 4.9 4.9 5.2 5.2 5. 5 6.3 8.1 9.8s 3 -7 3 4. 0 4.2 4. 3 4.4 4.5 4. 5 4.3 4.7 4.9 5.0 5.5 5.5 5. 9 5.9 6.4 7.2 8.3 9.9 10. 0\ d-71 9- 7 1 10-71 11-71 12-71 1-7 2 2-72 3-72 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 128.87 129.90 INIT I A L M O N f H P R E P A R E D BY F E D E R A L R E S E R V E A P R I L 20. 197 3 B A N K OF ST. L O U I S WHULfcSALb P K l t b b - I N D U r m A L LUMMITDT I IESt S E A S O N A L L Y A U J U S I t U 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 TERMINAL P U N lH INITIAL MONTH 9-7 1 9-71 10-71 11-71 12-71 1-72 2-72 4-72 5-72 6-72 1 9 * 7 » 100 7-72 8-72 9-72 10 - 7 2 1 1 - 7 2 1 2 - 7 2 1-7 3 2-73 f 4 -0.4 115.21 1 0 -71 -1.4 -2.2 11-71 -0.5 -0.5 12-71 0.3 0.6 2.1 115.00 115.12 2.9 115.39 1-7? i.l 1.5 2.8 3. 6 4.3 2-72 1.7 2.2 3.3 4.0 4.6 4.9 3-72 1.9 2.4 3.3 3.8 4.2 4.1 4-7? 2.4 ? .8 3.6 4. 1 4. 4 4.5 4.3 115*80 116.26 116.57 l O *07- 117.07 ?. 6 3.0 3.7 4. 1 4.4 4.4 4.3 4.8 4 ‘3 2.8 3.2 3.9 4.3 4.5 4.6 4.5 4.9 4.7 7-7? ?. 9 3.2 3.8 4. 1 4.3 4.3 4.1 4.4 4.1 3.9 2.8 8- 7 ? 3.0 3.1 3.9 4.1 4.3 4.3 4.2 4. 4 4.2 4.1 3.7 4.6 9-7? 2.9 3.2 3.7 4. 0 4.1 4.1 3.9 4. 1 3.8 3.7 3.2 3.4 2.’ N 10-72 2.6 2.9 3.3 3.5 ^. 6 3.5 3.3 3. 3 3.0 2.7 2.1 1.9 0.6 -1.1 11-7? ?.R 3.1 3.* 3.7 3.7 3.7 3.5 3. 6 3.3 3.2 2.8 2.9 2.7 2.1 5.5s 12-72 2.7 3. 0 3.3 3.5 3.6 3.5 3.4 3.4 3.1 3.0 2.6 2. 4 ?.l 2.0 3.6 i.V\+7.6% 119.50 119.89 0 1 5-72 3-7? 117*48 \ 5.1 117.97 118.24 118.68 11 8 * 9 1 sv 118.80 119.33 3.0 3.5 3.6 3.5 3.4 3.4 3.2 3.1 2.8 2 .8 ?• 5 2.5 3.7 2.8 4.0^^ 3.3 3.6 3.9 4. 1 4.2 4. 2 4.1 4.2 4. 1 4.1 3.9 4.1 4.0 4.4 5.8 5.9 8.0 3-73 3.9 4.2 4.5 4.7 4. 9 4. 9 4. 9 5.1 5.0 5.1 5.1 5.4 5. 5 6.1 7.6 v- 71 1 0 -71 11-71 12- 7 1 1-72 2-72 3-72 4-72 5-72 6-7? 7-72 8-72 9-72 10-72 11-72 12-72 12. 2 \ >o • 3-71 r* • o 2.8 2-73 00 1-73 3.4 1-7 3 1 4.9s\ 121.05 122.46 2-73 INITIAL MONTH PRFPAR'FP P Y F E D E R A L R E S F R . V F B A N K O F T T . APRIL % 1973 LCUIS 13 RATIO PRICES S CAL E 196 7 = 1 0 0 SEASONALLY PERCENTAGES LATEST ARE AN NU AL DATA P L O T T E D ; RATES OF CHANGE FOR RATIO 1967-100 ADJUSTED PERIODS SCAL E INDICATED. MA R C H PREPARED BY F E D E R A L RESERVE BANK OF ST. LOUIS 14 W r i'H » - S A L h - M l. I I»* '*. CrMonilNOED TFPMINAt .wrw?t h ANNUAl INITIAL 0-7| 10-71 11-71 12-71 1-72 2-72 3-7? ¡> t* V » N * L L T A ’M U M * » PATf-S O F C H A N G E "ONTN 4-72 5-72 19*7 » 6-72 7-7? 3-72 9-72 10-72 11-72 12-72 1-73 100 2-73 9-71 114.71 10-7! U * 114.88 11-71 1.6 1.4 12-71 3.S A.3 7.3 1-72 4.1 5.1 7.0 r».7 ?-7? 4.H 5.5 6.9 6. 7 6.7 3-7? 4.? 4.T 5.* 4.«) 4.0 1.3 4-7? 4.1 .4.5 *?.l 4.5 3. * 2.4 3.4 5-7? ».3 4.4 •5.7 4.7 4.2 3.4 4.5 4 .* *.2 4.5 4.0 4.9 5.7 5.2 4.9 5.8 6-7? 7-7? *.«> 5.7 115.01 115.69 5.4 116.32 116.95 117.08 117.41 5.6 117.94 5.7 6.6 7.2 118.49 *.6 119.31 3-7? 5.1 5.4 *.0 5.7 5.6 5.4 6.2 7.0 7.4 3.3 7.9 0-7? 5.1 5.3 5.7 5.« 5.3 5.1 5.8 6.3 6.4 6.7 5.7 3.6 10-7? *.7 4.9 •4.2 5.0 *.8 6.4 5.1 5.4 5.3 5.2 4.1 2.2 0.9 11-7? 4.9 5.1 5.4 5.2 5.1 4.9 5. 4 5. 6 5.7 5.6 4.9 3.9 4.1 7.4 12-7? 5.0 6.> 6.6 6. « 6.5 6.5 7.0 7.5 7.» 3.1 8.0 8.1 9.6 14. 2 21.5 1-73 6.3 *.7 7.0 7.0 7. 0 7.1 7.7 3.2 8.5 3.9 8.9 9.1 10.6 14.0 17.4 13.5 2-73 7.2 7.5 7.« 5.0 4.1 8.2 8.8 9.4 9.8 10.3 13.6 11.0 12.6 15.7 18. 6 17.2 21.1 3-73 «.3 8.7 9.2 9.3 9.5 9.7 10.5 It .1 11.7 12.4 12.9 13.6 15.4 18.5 21.5 21.5 25.7 J0.4 9- ri I T - 71 11-71 1Z-7I 1- 72 z- rz 3- r? 4-72 "-72 4-77 7-77 8-72 9-72 10-7Z 11-72 12-72 1-73 2-7J 120.07 120.42 120.51 121.23 123.21 124.52 126.52 129.35 ----------------------------------------------- W W I R W B Y F E D E R A L RESEJrVF'BJTNK 0 F T T . * P » l l 5, 1 9 7 3 Trmr-PHunocTS COMPOUNDED TERMINAL P O N JH a n u P F u c t s s k i J h k j o s a n d t-htu*» OF C H A N G E 9-71 - 13.7 10-71 -0.5 9-71 10-71 11-71 12-71 1-72 2-72 3-72 4-72 a d j . ANNUAL S A T F S INITIAL 8-71 seas* LOUIS 5-72 MHNTH 6-72 1 9 6 7 * 1 00 7-72 8-7? 9-72 10-72 11-72 12-72 1-73 2-73 113.3 14.7 114.6 11-71 1.1 9.3 4. 3 12-71 5.1 12.2 10.9 18.0 1-7? *.? 11.3 10 . 9 14.4 10.3 2-72 7.6 12.5 l?.0 14.7 13 . 0 15.3 115.0 116.6 117.6 119.0 3-7? *.9 9.4 P.4 9.7 7.0 5.2 -4.0 4-72 5.0 8. 0 6.9 7.5 5. 0 3.1 -2.5 -1.0 5-72 5.5 *. ? 7.3 7. 6 5.9 4.7 1.4 4.1 9.5 6-72 5. 6 8. 0 7.2 7.6 5. 9 5. 0 2. 5 4.3 7.8 6.2 7-7? 7.2 9.5 8. 9 9.5 8.4 3. 0 4.4 9.4 13. 1 16.9 24.4 8-72 3.0 10 . ? <».3 10.4 9.5 9.4 8. 4 11. 1 14. * 15.9 21.? 13.3 118.6 118.5 119.4 120.0 122.2 123.9 9-72 8.2 10.2 o. 8 10.4 9.6 9.5 8.6 10.9 13. 5 14.5 17.4 14.0 10.1 10-72 7.7 9.6 9. 2 9. 6 3.8 8.6 7.8 9.6 11. 4 11 . 8 ~ 13.3 9. » 6.0 1.9 11-7? 8.4 10.1 <?.3 10.3 9.6 9.5 8.8 10. 5 12. 3 12.8 14.1 11.7 9.7 9.5 17.6 12-72 12.0 14.0 13.9 14.7 14 . 4 14.7 14.7 17. 0 19.4 70.9 23.6 23.4 24.8 30.1 47.0 83.8 1-73 13.5 15. 5 15.6 16.4 16.3 16.3 16.9 19.2 21.7 23.3 26.0 26.2 ?7.9 32.9 45.1 61.2 41.3 2-73 15.1 17.1 17.3 18 . 2 l«.2 18.8 19.1 21.4 23.9 25.6 28.3 28.9 30.8 35.4 45.3 56.0 43.6 46.0 3-73 17. 7 19.7 ?0.0 21.1 21.3 22 . 1 22.6 25.1 27.8 29.8 32.7 33.3 36.2 41.2 50.7 60.3 53.1 59.4 74.1 H-71 9- i n - fi 11-71 17- »1 1-72 7- 72 3- 17 4-72 ■¡-72 6-72 7-72 8-72 9-72 10-7Z 11-72 12-72 I- 73 2-73 n 124.9 125.1 F*rn*aSTTt/ ^ '? APRIL 5t 126.8 f-c O £ *A l 1*373 133.4 137.3 RESERVE 141.7 hank up 148.4 sr. L t iu is 15 RATIO WHOL ESALE SCALE 1967 = 100 1965 SEASONALLY 1966 1967 1968 PRICES 1969 1970 io scale 1967 = 100 ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P ER I ODS LATEST DATA PLOTTED: r a t 1971 1972 1973 INDICATED. MARCH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 16 GENERAL PRICE INDEX* R A T I O SCALE R A T I O SCALE 1958-100 1958-100 PERCEpiTACES A M AMNIAL RATES OF .GMANÇE FOR PERIODS INDICATED. LATEST BATA PLOTTEt. 1ST 8UARTFR PRELIMINARY PREPAREO tY FEDERAL RESERVE BANK OF ST. LOÜIS IMPLICIT P R I C E D E F L A T O R FOR GR 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 CF C H A N G E 2-68 3-Ó 8 4. 3 4-68 4.5 3-68 4-68 1-69 2-69 3-69 4-69 1-70 2-70 3-70 v 1- 7 1 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1 i Aftr +4.870 124.26 125.55 1 -69 4.4 4.4 4.2 " 4.7 4.8 4.9 5. * \ 3-69 5.0 5. 1 5.3 5.8 5. 0 5. 2 5 .3 5.7 5.8 5.5"“ 127.24 1 » 6 . 1 s^ O . U T o 129.14 130.88 5.3 5.4 5.6 5.9 6.0 6.0 6.5 \ 5.1 5.3 5.4 5.6 5. 6 5.4 5.4 3-70 5.0 5. 1 5.2 5.3 5.3 5.1 5.0 4.2 4.0" t o 132.97 1-70 2-70 5 .2 5.2 5.3 5.5 5.5 5.4 5.3 4.9 5.2 6.5 1-71 5.2 5.3 5.4 5.5 5.5 5.5 5.4 5.2 5.5 6.2 5.9\ 5.4 5.4 5.3 5.3 5.0 5 .2 5.6 5.1 134.38 1 4 . 3 s\ ^ + 5 . 2 % 135.71 137.85 139.84 141.34 1 4.4" 2-71 5.2 5.2 5.3 3-71 5.0 5.0 5.1 5.2 5.1 5.0 4. 9 4.6 4.7 4.9 4. 4 3.6 2.9 4-7 1 4.7 4. 8 4.8 4. 3 4.7 4.6 4. 5 4.2 4.2 4.2 3.6 2.9 2.2 1.5 \ + 3 . 4 % 142.88 4. 6 4.3 4.3 4.4 3.9 3.5 3. 2 3.3 5. l \ 144.68 4.8 4.6 4. 8 2-7 2 4.6 4. 6 4.6 4. ò 4.5 4.4 4.3 4.0 4.0 4.0 3 .6 3.1 2.8 2.8 3.5 1.8 3-7 2 4.4 4.4 4.4 4.4 4.4 4.2 4.1 3.9 3.8 3.8 3.4 3.0 2.7 2.7 3.1 2 .1 2.4 3. 7 3.3 3.0 2.8 2.7 3.0 2.4 2.6 2.8 3. 6 3.4 3 .2 3.3 3.6 3.2 3.7 4.4 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4.8 4.8 142.35 4.8 1-7 2 4- 7 2 4.3 4.3 4.3 4.3 4.3 4. 1 4. 0 3.8 3.7 1-73 4.4 4.4 4. 4 4.4 4.4 4.2 4.2 4.0 3 .9 3 .9 3-69 4-69 1— 70 2-70 3-70 1-iSA 1— 69 INITIAL - 4-70 122.87 1 4.6 2-69 4-69 1958 = 100 INITIAL Q U A R T E R TERMINAL QUARTER P- PR? LIMI N A R Y .. . ..... .. 145.34 146.21 147.23 1 4 9 . 38P 6.0] 4-72 QUARTER ................. _ ........... PREPARED BY FEDERAL RESERVE APRIL 19, 19 73 .... BANK QF ST, LOUIS I N V E N T O R I E S COMPARED WI TH MONTHLY S A L E S * MANUFACTURING AND TRADE 72 . 68 1 68 64 60 1 .56 56 52 48 1 . 44 44 1 . 40 40 36 1959 1960 * R A T I 0 S BA S E D 19 6 1 1962 1963 ON S E A S O N A L L Y 1964 ADJUSTED S H A D E D A R E A S R E P R E S E N T P E R I O D S OF AS D E F I N E D BY THE N A T I O N A L BU R E A U LATEST DATA PLOTTED: FEBRUARY 1965 1966 1967 1968 DATA. 1969 SOURCE: 1970 1971 U . S . DEPARTMENT 1972 OF 1973 COMME RCE BUSINESS RECESSIONS OF E C O N O M I C R E S E A R C H . PRELIMINARY PREPARED BY F E D E R A L RESERVE BANK OF ST. LOUIS
@FedFRASER