Full text of National Economic Trends : April 1989
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N a t io n a l E c o n o m ic T r e n d s April 1989 Considerable m e a s u r e d public r a t e hit a p o s t w a r l o w decades concern as the p r o p o r t i o n since 1950. has b e e n of personal of 3.2 percent; H o w e v e r , expressed saving in 1 9 8 8 , in r e c e n t years about to d i s p o s a b l e p e r s o n a l the behavior income. it r o s e o n l y t o 4 . 2 p e r c e n t , In 1987, well b e l o w of the U.S. personal for e x a m p l e , saving the personal rate, saving its a v e r a g e l e v e l i n t h e t h r e e p r e v i o u s c o n c e r n a b o u t the c u r r e n t relatively l o w p e r s o n a l s a v i n g rate m a y be misplaced. T w o broader m e a s u r e s o f t h e p e r s o n a l s a v i n g rate h a v e n o t d e c l i n e d precipi t o u s l y in th e 1 9 8 0 s c o m p a r e d to their levels in p r e v i o u s d e c a d e s . T h e based b y table b e l o w m e a s u r e s s h o w s of w h a t has h a p p e n e d saving since relative to d i s p o s a b l e 1 9 5 0 to t he p e r s o n a l s a v i n g rate d e s c r i b e d a b o v e personal income. T h e individuals” data f r o m the Federal R e s e r v e f l o w of funds accounts. n o n p r o f i t institutions, in o w n e r - o c c u p i e d farms h o m e s , c a l l e d t h e total p e r s o n a l ing, p e r s o n a l welfare funds. tially l o w e r 'en a n d only other noncorporate durables s a v i n g rate s i m p l y e m p l o y e r In sharp a n d c o n s u m e r contributions a n d 1980s, o n average, slightly b e l o w its p r i o r while P e r s o n a l w e r e the S a v i n g 1980-88 Personal saving Individual Total personal saving Views a n d e m p l o y e r saving personal R a t e s : increases saving m e a s u r e s D u r i n g S e l e c t e d 1970-79 8 . 0 % rate the has in debt. saving contributions rate, t h e t w o saving in financial net reductions the others, 5 . 4 % saving m e a s u r e in prior d e c a d e s . total individual other broader rate uses T h e s e data include households, assets a n d of the personal than they levels, they t o d i s t i n g u i s h it f r o m for social i n s u r a n c e contrast to the b e h a v i o r in the business; certain other so-called a n d t w o the assets, T h e net i n v e s t m e n t third s a v i n g as the s u m broader saving the e x c e e d e d rate, of personal for private pension, 1980s, “s a v i n g p e r s o n a l trust f u n d s , sav health a n d rates are no t s u b s t a n individual its e a r l i e r saving rate h a s levels. M e a s u r e s 1960-69 1950-59 6 . 7 % 6 . 8 % 11.8 13.3 12.2 12.6 24.4 24.0 17.5 13.6 — Court e n a y THE FEDERAL RESERVE RANK of ST.IXHIS e x p r e s s e d d o n o t n e c e s s a r i l y r e f l e c t official p o s i t i o n s o f t h e F e d e r a l R e s e r v e S y s t e m . C. Stone T O T A L C IV IL IA N E M P L O Y M E N T (C o m p o u n d e d A m m I R a te s o f C h a n g e ) TERMINAL MONTH THOUSANDS OF PERSONS INITIAL MONTH 7-67 8-87 9-87 1 0-67 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 115,019 6-87 4.4 9-67 1.5 -1.5 10-67 2.2 1 .1 5.6 11-87 2.5 1.6 5.0 2.5 112*896 115*225 115*460 115*740 12-87 2.4 1.9 5.0 2.8 5.0 1-88 2.6 2.2 5.1 5.0 5.2 5.4 2-88 2.5 2.2 5.0 2.8 2.9 2.8 2.5 5-88 2.0 1.7 2.2 1. 9 1.8 1.4 0.4 -1.5 4-88 2.4 2.2 2.7 2.6 2.6 2.4 2.1 2.0 5.7 5-88 1 .9 1.6 2.0 1.8 1. 7 1.4 0.9 0.5 1.4 -2.7 114*055 114*275 114*129 114*660 114*405 115*001 6-88 2.5 2 .1 2.5 2.4 2.5 2.2 2.0 5.1 1.8 6.5 7-88 2 .1 1.9 2.5 2.1 2 .1 2.0 1.7 2.4 1.5 5.4 0.5 8-88 2 .1 1 .9 2.2 2 .1 2 .1 1. 9 1.7 2.5 1.4 2.8 1 .1 1.8 1.6 115*054 115*205 115*570 9-88 2 .1 1.9 2.2 2.1 2.0 1.9 1.7 2.2 1. 5 2.6 1.5 1.8 1.8 10-88 2 .1 1 .9 2.2 2.1 2.0 1. 9 1.8 2.2 1.6 2.5 1.5 1.9 1. 9 2 .1 11-88 2.2 2 .1 2.5 2.2 2.2 2 .1 2.0 2.0 2.4 1.9 2.7 2.0 2.4 2.6 5.0 12-88 2.1 2.0 2.2 2 .1 2.1 2.0 1 .9 1.8 2.2 1.8 2.4 1.8 2.0 2 .1 2.2 2.5 0.6 1-89 2.4 2.5 2.5 2.5 2.5 2.4 2.5 2.5 2.7 2.4 5.0 2.6 2.9 5.2 5.5 4.0 4.0 7.5 2-89 2.4 2.2 2.5 2.4 2.4 2.5 2.5 2.5 2.6 2.5 2.9 2.4 2.7 2.9 5. 1 5.4 5.2 4.4 1. 5 7-87 8-87 9-87 10-87 11-87 12-87 1-68 2-88 5-88 4-88 5-88 6-88 7-86 8-88 9 - 8 8 10-88 11-88 12-88 1-89 115*575 115*947 4.0 116*009 116*711 116*855 INITIAL MONTH P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F S T. L O U I S M A R C H 10» 1 9 6 9 P A Y R O L L E M P L O Y M E N T ( C o m p o u n d e d A n n u a ) R a t e s of C h a n g e ) TERMINAL MONTH 7-87 8-87 9-87 10-87 11-87 12-87 8-87 2.9 9-87 2.8 2.8 10-87 5.7 4.2 5.6 11-87 5.7 4.0 4.6 5.6 1-88 2-88 INITIAL MONTH OF PERSONS 5-88 4-88 5 -88 THOUSANDS 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 102*672 102*906 105*571 105*678 12-87 5.7 5.9 4.5 5.7 5.8 1-88 5.6 5.8 4.0 5.5 5.4 5.1 2-88 5.9 4.0 4.5 4.0 4.1 4.5 5.5 104*001 104*262 104*729 5-88 5.8 4.0 4.2 5.9 5.9 4.0 4.4 5.4 4-88 5.7 5.8 4.0 5.7 5.8 5.7 4.0 5.2 5.0 5-88 5.6 5.7 5.8 5.5 5.5 5.5 5.6 2.9 2.7 2.4 6-88 5.9 4.0 4.1 5.9 4.0 4.0 4.2 5.9 4.0 4.5 6.7 7-88 5.7 5.8 5.9 5.8 5.8 5.8 5.9 5.6 5.6 5.8 4.5 2.4 105*020 105*281 105*489 106*057 106*271 8-88 5.6 5.7 5.7 5.6 5.5 5.5 5.6 5.5 5.2 5.5 5.6 2 .1 1.8 9-88 5.6 5.6 5.7 5.6 5.6 5.5 5.6 5.5 5.5 5.4 5.6 2.6 2.7 10-88 5.5 5.6 5.6 5.5 5.5 5.4 5.5 5.2 5.2 5.2 5.4 2.6 2.7 5. 1 2.7 11-88 5.6 5.7 5.7 5.6 5.6 5.6 5.6 5.4 5.4 5.5 5.7 5.1 5.5 5.8 5.9 12-88 5.6 5.6 5.7 5.5 5.5 5.5 5.5 5.5 5.5 5.4 5.5 5.0 5.1 5.5 5.4 5.8 2.5 1-89 5.6 5.7 5.7 5.6 5.6 5.6 5.6 5.5 5.5 5.5 5.7 5.5 5.4 5.7 5.8 4.1 5.6 4.7 2-89 5.6 5.7 5.7 5.6 5.6 5.6 5.6 5.5 5.5 5.5 5.6 5.5 5.4 5.6 5.7 5.9 5.5 4.0 5.5 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-68 6-88 7-88 8-68 9 - 8 8 10-88 11-88 12-88 1-89 106,425 5.6 106*757 106,975 5.1 107,419 107,641 1 0 8 , 0 5 6P 108,545P IN IT IA L MONTH P- PRELIM IN A RY PREPARED BY FEDERAL RESERV E BANK OF S T . LO U IS MARCH 10» 1969 2 EMPLOYMENT R A T IO R A T IO S C A L E M I L L I O N S OF S C A L E MILLIONS OF PERSONS SEASONALLY ADJUSTED P E R S O N S 130 125 120 115 110 105 100 95 90 85 80 SOURCEt U.S.DEPARTMENT OF LABOR BEGINNING JANUARY 1966. TOTAL EMPLOYMENT DATA INCORPORATE NEW PROCEDURES FOR ESTIMATING MEASURES OF IMMIGRATION AND EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT 0.3Z. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDi FEBRUARY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS UNEMPLOYMENT PERCENT SEASO NALLY RATE PERCENT A D JU S T E D 10.0 10 9 .0 8.0 7 .0 6.0 5 .0 4. 0 1981 19 8 2 198 3 198 4 1985 19 8 6 1 98 7 19 8 8 19 8 9 SOURCEt U .S . DEPARTMENT OF LABOR PERCENT OF C IV IL IA N LABOR FORCE LATEST DATA PLOTTED* FEBRUARY PREPARED BY FED ERAL R ESER V E BANK OF S T . LOUIS 3 C O N S U M E R P R IC E IN D E X F O R A L L U R B A N C O N S U M E R S (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) TERMINAL IN IT IA L MONTH 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 1982-84-100 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 11 4 . 4 8-87 5.4 9-87 3 .7 2 .1 10-87 3.9 3.2 4.3 11-87 4.0 3.5 4.3 4.3 12-87 1 .4 3.2 3.5 3.2 2 .1 11 4 . 6 115.0 115 . 4 115.6 116.1 1-88 S.9 3.6 4.0 3.9 3.7 5.3 2-88 3.4 3.3 3.4 3.4 3.2 3.7 2.1 5-88 3.7 3.5 3.7 3.6 3.4 3.9 3.1 4.2 4— 8 8 3.9 3.7 3.9 3.9 3.8 4.2 3.8 4.7 5.3 5-88 4.0 3.9 4.1 4.1 4.0 4.4 4.2 4.9 5.3 4- 8 8 4.0 3.9 4.1 4.1 4.0 4.4 4.2 4.7 4.9 4.7 4.2 7- 8 8 4 .1 4.0 4.2 4.2 4.2 4.5 4.4 4.8 5.0 4.9 4.7 5.2 8-88 4.1 4.0 4.2 4.2 4.2 4.4 4.3 4.7 4.8 4.7 4.5 4.7 11 6 . 3 11 6 . 7 11 7 . 2 117.7 5.2 1 18.1 118.6 119.0 4.1 119.5 9- 8 8 4.2 4.1 4.3 4.3 4.3 4.5 4.4 4.8 4.9 4.8 4.7 4.8 4.6 5.2 10-88 4.3 4.2 4.3 4.3 4.4 4.6 4.5 4.8 4.9 4.8 4.8 4.9 4.8 5.1 5.1 11-88 4.2 4.1 4.2 4.2 4.2 4.4 4.4 4.6 4.7 4.6 4.5 4.5 4.4 4.4 4.1 120.0 120.3 3.0 120.7 12-88 4.2 4.1 4.2 4.2 4.2 4.4 4.3 4.6 4.6 4.5 4.4 4.5 4.3 4.3 4.1 3.6 4.1 1-8 9 4.3 4.3 4.4 4.4 4.4 4.6 4.6 4.8 4.9 4.8 4.8 4.8 4.8 4.9 4.8 4.7 5.6 7.2 2-89 4.4 4.3 4.5 4.5 4.5 4.7 4.6 4.8 4.9 4.8 4.8 4.9 4.8 4.9 4.9 4.8 5.4 6.1 5.1 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 121.4 121.9 INITIAL MONTH P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F ST. L O U I S M A R C H 21» 1989 P R O D U C E R PRICE INDEX, FINISHED G O O D S ( C o m p o u n d e d A n n u a l R a l e s of C h a n g e ) TERMINAL MONTH INITIAL MONTH 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 1 9 8 2 * 1 00 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 105.7 8-87 1.1 9-87 3.5 5.8 10- 8 7 1.5 1 .7 - 2.2 11- 8 7 1.1 1 .1 - 1 .1 0.0 12-87 0.2 0.0 -1.9 -1.7 -3.3 106.2 106.0 106.0 105.7 1-88 1.5 1.6 0.6 1. 5 2.3 8.2 2-88 1.3 1. 3 0.5 1.1 1.5 4.0 0.0 3- 8 8 1.7 1.8 1.1 1.8 2.3 4.2 2.3 4.6 106.4 106.4 106.8 4-88 1 .9 2.0 1.5 2 .1 2.5 4.0 2.7 4.0 3.4 5-88 2.0 2.2 1.7 2.3 2.7 3.9 2.8 3.8 3.4 3.4 6-88 2 .1 2.2 1.8 2.3 2.6 3.6 2.7 3.4 3.0 2.8 2.3 10 7 . 1 107.4 107.6 7-88 2.5 2.6 2.3 2.8 3.1 4.1 3.4 4.1 4.0 4.2 4.6 6.9 8-88 2.5 2.6 2.4 2.8 3.2 4.0 3.4 4.0 3.9 4.0 4.2 5.1 3.4 9-88 2.8 3.0 2.7 3.2 3.5 4.3 3.8 4.4 4.4 4.5 4.8 5.7 5.1 6.8 10-88 2.7 2.8 2.6 3.0 3.3 4.0 3.5 4.0 3.9 4.0 4.1 4.5 3.7 3.9 108.2 108.5 1 0 9.1 1 .1 109.2 11-88 2.7 2.8 2.6 3.0 3.2 3.8 3.4 3.8 3.7 3.7 3.8 4.1 3.4 3.4 1.7 2.2 12-88 2.9 3.0 2.8 3.1 3.4 4.0 3.6 4.0 3.9 3.9 4.0 4.3 3.8 3.9 3.0 3.9 5.6 1-89 3.4 3.5 3.4 3.8 4.0 4.6 4.3 4.7 4.7 4.9 5.1 5.5 5.2 5.6 5.3 6.8 9.1 12.7 2-89 3.8 4.0 3.9 4.3 4.6 5.2 4.9 5.4 5.4 5.6 5.9 6.3 6.3 6.7 6.7 8.2 10.2 12.6 12.6 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 109.4 109.9 111.0 112.1 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 17» 1989 4 RATIO SCALE P R I C E S 1982-100 RATIO SEASONALLY ADJUSTED SCALE 1982-100 CONSUMER P R IC E S O A TA ARE ON A 1 9 6 2 - 8 4 -1 0 0 B ASE C P I - U O A T A B E G IN N IN G 1963 IN C O R P O R A T E A R E N TA L E Q U IV A L E N C E M EASURE FO R H O M EO VN E R SH IP C O S T S . P E R C E N TA G E S A R E AN NU AL R A T E S OF CHANGE F O R P E R IO D S I N D IC A T E D . L A T E S T D A TA P LO TTE D » FEBRU ARY P R E P A R ED B Y F E D E R A L R E S E R V E BANK OF S T . r a t io scale PRODUCER P R IC E S P E R C E N TA G E S ARE AN NU AL R A T E S OF CHANGE FO R P E R IO D S L A T E S T O A TA P LO T T E D * r a tio L O U IS scale IN D IC A T E D . FEBRUARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 P R O D U C E R P R IC E IN D E X , F IN IS H E D C O N S U M E R F O O D S (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) TERMINAL MONTH IN IT IA L MONTH 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 1982 « 100 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 109.5 8-87 -8.4 9-87 - 1 .1 10-87 - 1 .1 2.8 - 1 .1 11 - 8 7 -0.5 2.6 0.5 12 - 8 7 - 2.8 -1.4 -5.9 1-88 0.5 2.4 1.4 2.2 2.2 19.1 2-88 - 0.2 1.5 0.2 0.5 0.0 6.8 -4.5 5-88 0.7 2.0 1.5 1.8 1.6 6.8 1 .1 6.7 4-88 I 0.6 1.8 1 .1 1.5 1 .5 5.0 0.7 5.5 5-88 >,.2 2.5 1.8 2.2 2.2 5.4 2.2 4.4 5.5 6.7 6-88 2.0 5.1 2.7 5.2 5.5 6.2 5.7 5.8 5.5 8.4 10.2 7-88 2.5 5.6 5.5 5.8 4.0 6.5 4.6 6.4 6.4 8.6 9.5 8.9 8-88 2.9 5.9 5.7 4.2 4.4 6.7 5.0 6.7 6.6 8.4 8.9 8.5 7.7 9-88 5.5 4.5 4.5 4.8 5.0 7.2 5.8 7.5 7.4 8.9 9.5 9.2 9.4 1 1 .1 10-88 5.5 4.2 4.0 4.5 4.7 6.5 5.2 6.5 6.4 7.6 7.7 7. 1 6.5 6.0 1 .1 11-88 5.4 4.2 4.0 4.4 4.6 6.5 5.1 6.2 6.2 7.1 7.1 6.5 6.0 5.4 2.6 4.5 109.9 6.8 109.8 110.0 2.2 108.8 -5.5 -12.5 110.4 110.0 110.6 110.6 0.0 111.2 112.1 112.9 115.6 114.6 114.7 11 5 . 1 12-88 5.2 4.0 5.8 4.2 4.4 5.9 4.8 5.7 5.6 6.5 6.2 5.6 5.0 4.5 2 .1 2.6 1.0 1-89 5.8 4.6 4.5 4.9 5.0 6.5 5.5 6.5 6.4 7.2 7.2 6.8 6.5 6.2 5.1 6.4 7.5 14.4 2-89 4.4 5.2 5.1 5.5 5.7 7.1 6.5 7.2 7.2 8.0 8.1 7.9 7.7 7.7 7.1 8.6 10.1 14.9 15.4 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 115.2 116.5 117.9 INITIAL MONTH P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F ST. L O U I S M A R C H 17» 1 9 8 9 P R O D U C E R PRICE INDEX, FINISHED G O O D S , E X C L U D I N G F O O D 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 ) TERMINAL MONTH INITIAL MONTH 7-87 8-87 9-87 10-87 11-87 12-87 1—88 2-88 5-88 4-88 5-88 1 9 8 2 « 100 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 8-87 5.9 9-87 5.9 5.9 10-87 2.7 1.2 -5.4 11-87 1.7 0.4 -2.5 - 1 .1 12-87 1.6 0.6 - 1 .1 0.0 1.2 1-88 1.9 1.2 0.0 1.2 2.5 5.5 2-88 2.2 1.5 0.7 1. 7 2.7 5.5 5.5 5-88 2.2 1.6 1.0 1.8 2.6 5.1 2.9 2.5 4-88 2.4 2.0 1.5 2.5 5.0 5.5 5.5 5.5 4.6 5-88 2.4 2.0 1.6 2.5 2.9 5.2 5.2 5. 1 5.5 2.5 6-88 2.2 1.8 1. 4 2.0 2.5 2.7 2.5 2.5 2.5 1 .1 0.0 7-88 2.5 2.2 1.8 2.4 2.9 5 .1 5. 1 5.0 5.2 2.7 2.9 5.8 8-88 2.6 2.5 2.0 2.5 2.9 5.2 5. 1 5 .1 5.2 2.9 5. 1 4.6 5.4 9-88 2.7 2.5 2.2 2.7 5.1 5.5 5.5 5.5 5.4 5.2 5.4 4.6 4.0 4.6 10-88 2.6 2.4 2.1 2.6 2.9 5. 1 5. 1 5.0 5.1 2.9 5.0 5.7 5.0 2.8 11-88 2.5 2.5 2.0 2.5 2.8 2.9 2.9 2.8 2.9 2.6 2.7 5.2 2.6 2.5 1 .1 1 .1 12-88 2.8 2.6 2.4 2.9 5.2 5.5 5.5 5.5 5.4 5.5 5.4 4.0 5.6 5.7 5.4 4.6 1-89 104.5 105.0 104.7 104.6 104.7 105.0 105.5 105.5 105.9 1 06 . 1 1 06 . 1 106.6 106.9 107.5 107.4 1 .1 107.5 108.2 8.1 1-8 9 5.5 5.2 5.0 5.4 5.8 4.0 4.0 4.0 4.2 4.2 4.4 5.1 4.9 5.2 5.4 6.9 9.9 11.7 2-89 5.7 5. 5 5.4 5.8 4.2 4.4 4.5 4.6 4.8 4.8 5.1 5.7 5.7 6.1 6.4 7.7 10.0 11.0 10.4 7-87 8-87 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9 - 8 8 10-88 11-88 12-88 1-89 109.2 110.1 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS MARCH 17» 1989 6 NDUSTRIAL RATIO PRODUCTION RATIO SCALE SEASONALLY ADJÜSTEO 1977-100 SCALE 1977-100 P E R C E N T A G E S A R E A N N U A L R A T E S OF C H A N G E F O R P E R I O O S INDICATED. LATEST DATA PLOTTED« FEBRUARY PRELIMINARY P R E P A R E O BY 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 INDUSTRIAL PRODUCTION (Compounded Annual Rates of Change) TERMINAL MONTH INITIAL MONTH 7-87 8-87 9-87 10-87 11-87 12-87 8-87 5.7 9-87 1.9 - 1.8 10-87 5.9 6.1 14.6 11-87 6.1 6.2 10.5 6.5 12-87 6.2 6.5 9.2 6.5 6.5 1-88 2-88 5-88 4-88 5-88 1977 * 100 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 151.2 151.0 152.5 155.2 155.9 1-88 5.9 6.0 8.0 5.9 5.5 4.6 2-88 5.0 4.9 6.5 4.4 5.7 2.5 0.0 5-88 4.7 4.6 5.7 4.0 5.4 2.4 1.5 154.4 154.4 2.7 154.7 4-88 4.9 4.8 5.8 4.4 4.0 5.4 5.0 4.5 6.4 5-88 5.1 5.0 5.9 4.7 4.4 4.0 5.8 5.2 6.4 6.4 6-88 4 .9 4.9 5.6 4.6 4.5 5.9 5.8 4.8 5.5 5.0 3.6 7-88 5.7 5.7 6.4 5.6 5.5 5.5 5.4 6.5 7.5 7.9 8 .7 14.0 8-88 5.6 5.6 6.5 5.5 5.5 5.2 5.5 6.2 6.9 7.0 7.2 9.1 4.4 155.4 156.1 156.5 158.0 158.5 9-88 5.2 5.2 5.8 5.0 4.9 4.7 4.7 5.4 5.9 5.8 5.6 6.5 2.6 0.9 10-88 5.4 5.5 5.9 5.2 5.1 4.9 5.0 5.6 6.1 6.0 5.9 6.5 4.1 4 .0 7.2 11-88 5.5 5.5 5.8 5.1 5.0 4.9 4.9 5.5 5.8 5.8 5.7 6.1 4 .2 4.1 5.8 4.4 12-88 5.5 5.5 5.8 5.2 5.0 4.9 5.0 5.5 5.8 5 .7 5 .6 5.9 4.4 4.4 5.6 4.8 5.5 1-89 5.5 5.5 5.7 5.2 5.1 5 .0 5.0 5 .5 5.7 5.7 5.6 5.8 4 .5 4.6 5.5 5.0 5.5 5.2 2-89 5.0 5.0 5.4 4.8 4.7 4 .6 4.6 5.0 5.2 5.1 4.9 5.1 5.9 5.8 4.4 5.7 5.5 2.6 0.0 7-87 8-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 9-87 10-87 11-87 12-87 158.6 159.4 159.9 140.5 141.IP 141.IP IN IT IA L MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS MARCH 16» 1989 7 PERSONAL RATIO TRILLIONS INCOME MONTHLY TOTALS AT ANNUAL RATES SCALE OF SEASONALLY ADJUSTED DOLLARS RATIO TRILLIONS OF SCALE DOLLARS 3.6 3.2 2 .8 2.4 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCE* U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED* FEBRUARY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL INCOM E (Compounded Annual Rates o f Change) INITIAL MONTH TERMINAL MONTH 7-87 8-87 8-87 8 5 9-87 69 5.5 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 BILLIONS OF DOLLARS ANNUAL RATES 5,805.7 5,820.8 10-87 15 2 15.7 26.8 11-87 8 6 8 .7 10.4 -4 .0 12-87 10 5 11.1 15.0 6.6 5,897.2 5,884.1 18.5 5,959.0 1-88 7 7 7.6 8.1 2.5 6.0 -5 .1 2-88 7 7 7.7 8.1 5.9 6.6 1.2 7.9 5-88 8 5 8.4 8.8 5 .5 8.1 4.8 10.2 12.6 4-88 7 9 7.9 8.2 5.4 7.4 4.8 8 .5 8 .5 4.6 5-88 7 8 7.7 8.0 5.5 7.2 5.1 7.8 7.8 5.5 6.5 6-88 7 7 7.7 7.9 5.7 7.2 5.4 7.7 7.7 6.1 6.8 7.2 7-88 7 9 7.8 8.0 6.1 7.5 6.0 8.0 8.0 6.9 7.6 8 .5 5,921.8 5,946.7 5,985.9 4,001.0 4,021.4 4,044.9 9.4 4,075.5 8-88 7 6 7.6 7.8 6.0 7.2 5.9 7.5 7.5 6.5 7.0 7.2 7.2 5.0 9-88 7 6 7.5 7.7 6.1 7.2 6.0 7.5 7.4 6.6 7.0 7.1 7.1 5.9 6.9 10-88 8 5 8.5 8.5 7.1 8.2 7.2 8 .7 8.8 8.5 8 .9 9.4 10.0 10.2 12.9 19.2 11-88 7 6 7.5 7.7 6.5 7.2 6.5 7.5 7.4 6.8 7.1 7.5 7.5 6.8 7.4 7.6 4,091.8 4,114.7 4,175.5 -2 .9 4,165.2 12-88 7 8 7.7 7.9 6.6 7.5 6.6 7.8 7.8 7.5 7.6 7.8 7.9 7.6 8.2 8.6 5.7 10.8 1-89 8 5 8.6 8 .7 7.6 8 .5 7.8 9.0 9.0 8 .7 9.2 9.5 9.9 9.9 11.0 12.0 9.7 16.6 22.7 2-89 88 8.8 9.0 7.9 8.8 8.1 9.2 9.5 9.0 9.5 9.9 10.2 10.5 11.2 12.1 10.4 15.2 17.5 12.6 7-87 8-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 9-87 10-87 11-87 12-87 4,200.8 4,272.9 4*515.5P IN IT IA L MONTH PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MARCH 24» 1989 8 RETAIL RATIO SALES* RATIO SCALE BILLIONS 1981 OF SEASONALLY ADJUSTED DOLLARS 1982 1983 1984 1985 BILLIONS 1986 1987 1988 OF SCALE DOLLARS 1989 SOUR C E * U.S. D E P A R T M E N T OF C O M M E R C E P E R C E N T A G E S A R E A N N U A L R A T E S OF C H A N G E FO R P E R I O D S INDICATED. L A T E S T D A T A PLO T T E D * J ANUARY, F E B R U A R Y A D V A N C E E S T I M A T E « R E V I S E D F R O M 1983 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 OF ST. L O U I S RETAIL SALES (Compounded Annual Rates o f Change) TERMINAL MONTH 7-87 INITIAL MONTH 8-87 9-87 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 MILLIONS OF DOLLARS 130*390 8-87 23.6 9-87 6.3 —8 .5 129*427 10-87 0.4 -9 .5 -1 0 .5 128*235 11-87 1.0 -5 .6 -4 .0 2.9 12-87 3.3 - 1.2 1.4 7.9 128*541 129*870 13.1 1-88 3.5 0.0 2.2 6.8 8.8 4.7 2-88 5.2 2.4 4.7 8 .9 10.9 9.9 15.3 130*364 131*921 3-88 6.6 4.4 6.7 10.5 12.5 12.3 16.3 4-88 5.4 3.3 5.1 8.0 9.0 8.0 9.2 6.2 -3 .9 5-88 5.7 3.8 5.5 8.0 8 .9 8.1 8.9 6.9 2.0 8.2 6—88 5.9 4.3 5.8 8.0 8.8 8.1 8.8 7.2 4.0 8.2 8.2 7-88 5.9 4.4 5.8 7.8 8.4 7.8 8.3 6.9 4.5 7.4 7.1 6.0 8-88 5.7 4.3 5.6 7.4 7.9 7.2 7.6 6.4 4.3 6.4 5.8 4.7 3.5 9-88 5.1 3.8 4.9 6.4 6.8 6.1 6.3 5.0 3.1 4.6 3.7 2.2 0.4 - 2.6 10-88 6.0 4.9 6.0 7.5 7.9 7.4 7.7 6.8 5.4 7.0 6.8 6.4 6.6 8.2 20.1 11-88 6.6 5.6 6.7 8.1 8 .5 8.1 8.5 7.8 6.6 8.2 8.2 8.2 8.8 10.6 17.9 12-88 6.0 5.0 6.0 7.3 7.6 7.2 7.4 6.6 5.5 6.8 6.6 6.3 6.4 7.1 10.5 1-89 6.1 5.2 6.1 7.3 7.7 7.2 7.5 6.8 5.8 6.9 6.7 6.5 6.6 7.3 9.9 6.7 2.5 8.1 2-89 5.5 4.6 5.5 6.5 6.8 6.3 6.5 5.8 4.8 5.7 5.4 5.1 4.9 5.2 6.8 3.7 0.0 1.5 -4 .7 7-87 8-87 1-88 2-88 3-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 «REVISED FROM 1983 P- PRELIMINARY E- ESTIMATED 9-87 10-87 11-87 12-87 17.4 133*692 133*249 134*130 135,010 135*662 136*050 135*751 137*842 15.7 139*529 6.0 -2 .9 139*189 140»098P 139»536E IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 14» 1989 9 H O U R L Y C O M P E N S A T IO N , B U S IN E S S S E C T O R (Com pounded A n n u a l R ates o f C h an ge) TERMINAL QUARTER IN IT IA L QUARTER 1-84 2-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 1977-100 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 2.7 166.9 168.7 5-84 5.5 4.4 4-84 5.6 4.1 5.8 1-85 4.0 4.5 4.6 170.5 5.5 172.5 174.2 2-85 4.0 4.4 4.4 4.6 4.0 5-85 4.2 4.5 4.6 4.8 4.6 5.1 4-85 4.4 4.7 4.8 5.0 4.9 5.4 176.4 5.6 178.8 180.4 1-86 4.5 4.5 4.6 4 .7 4.6 4.8 4.6 5.6 2-86 4.2 4.4 4.4 4.5 4.4 4.5 4.5 5.6 5.6 5-86 4.5 4.4 4.4 4.5 4.4 4.5 4.5 5.9 4.0 4.5 182.0 184.0 186.2 4-86 4.5 4.5 4.5 4.6 4.5 4.5 4.4 4.1 4.5 4.7 4.9 1-87 4.1 4.5 4.5 4.5 4.2 4.2 4.1 5.8 5.8 5.9 5.6 2.4 2-87 4.1 4 .2 4.2 4.5 4.1 4.2 4.0 5.8 5.8 5.8 5.6 5.0 5.7 5-87 4.1 4.5 4.2 4.5 4.2 4.2 4.1 5.9 5.9 4.0 5.9 5.5 4.1 4-87 4.5 4.4 4.4 4.4 4.4 4.4 4.5 4.2 4.2 4.5 4.5 4.2 4.8 5.4 6.2 1-88 4.2 4.4 4.5 4.4 4.5 4.5 4.5 4.1 4.2 4.5 4.2 4.1 4.5 4 .8 5.0 2-88 4.5 4.4 4.4 4.4 4.5 4.4 4.5 4.2 4.2 4.5 4.5 4.2 4.6 4.8 4.9 4.5 4.8 5-88 4.4 4.5 4.5 4.5 4.5 4.5 4.5 4.4 4.4 4.5 4.5 4.5 4.9 5.1 5.2 4.9 5.5 6.2 4-88 4.4 4.5 4.5 4.5 4.5 4.5 4.5 4.4 4.5 4.5 4.6 4.5 4.8 5.0 5.1 4.8 5.2 5.4 4.7 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 187.5 189.0 191.1 4.5 194.0 5.8 195.8 198.1 201.1 205.4 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 7» 1989 OUTPUT PER H OU R OF ALL PERSONS, BUSINESS SECTOR (Compounded Annual Rates o f Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 2-84 1.9 5-84 0.8 -0 .4 4-84 1.0 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 1977*100 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 105.6 0.6 105.5 1 5 105.9 1-85 1.5 1.4 2 5 5.1 2-85 1.8 1.8 25 5.0 5-85 2.0 2.0 2 7 5.0 5.0 5.0 4-85 1.8 1.8 2 5 2.5 2.5 1.9 0.7 106.7 5.0 107.5 108.5 108.5 1-86 2.5 2.6 5 1 5.5 5.6 5.7 4.1 7.6 2-86 2.2 2.2 2 6 2.8 2.8 2.7 2.6 5.5 -0 .4 5-86 1.8 1.8 2 1 2.2 2.1 1.9 1.6 1.8 -0 .9 -1 .4 4-86 1.6 1.6 18 1.8 1.6 1.4 1.1 1.2 - 0.8 - 1.1 -0 .7 1-87 1.5 1.5 1 6 1.7 1.5 1.5 1.0 1.0 -0 .5 - 0.6 - 0.2 0.4 2-87 1.6 1.6 1 7 1.8 1.6 1.4 1.2 1.5 0.1 0.2 0.7 1.5 2.6 5-87 1.8 1.7 1 9 2.0 1.8 1.7 1.6 1.7 0.7 0.9 1.5 2.5 5.5 4.0 4-87 1.7 1.6 18 1.8 1.7 1.6 1.4 1.5 0.7 0.8 1.5 1.8 2.5 2.2 0.4 110.5 110.4 110.0 109.8 109.9 110.6 111.7 111.8 1-88 1.8 1.8 1 9 2.0 1.9 1.8 1.6 1.7 1.0 1.2 1.7 2.2 2.6 2.7 2.0 5.6 112.8 2-88 1.5 1.4 1 6 1.6 1.4 1.5 1.2 1.2 0.5 0.6 0.9 1.2 1.4 1.1 0.1 0.0 -5 .5 111.8 5-88 1.5 1.5 1 6 1.6 1.5 1.4 1.2 1.5 0.6 0.8 1.0 1.5 1.5 1.2 0.5 0.6 -0 .9 1.8 112.5 4-88 1.5 1.5 1 4 1.4 1.5 1.1 1.0 1.0 0.4 0.5 0.7 0.9 1.0 0.7 0.1 0.0 - 1.2 0.0 - 1.8 111.8 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 8-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 7» 1989 10 P R O D U C T IV IT Y , C O M PEN SA TIO N , AND L A B O R COSTS RATIO SCALE RATIO SCALE 1977-100 1981 SEASO NALLY 1982 1983 1984 ADJUSTED 1985 1977-100 1986 1987 1988 1989 SO U RCEt U . S . D E P A R TM E N T OF LA B O R P E R C E N TA G E S AR E AN NUAL R A T E S OF CHANGE FOR P E R IO D S I N D IC A T E D . L A T E S T D A TA P L O T T E D t 4 TH Q U A R TE R PR EP AR E D BY F E D E R A L R E S E R V E BANK O F S T . LO U IS UNIT LABOR COSTS, BUSINESS SECTOR (Compounded Annual Rates o f Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 5-84 2-84 0.5 5—84 2.7 4.9 4-84 2.5 5.6 2.5 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 1977*100 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 158.0 159.9 160.8 1-85 2.4 5.0 2.1 2.0 2-85 2.1 2.5 1.8 1.5 1.0 5-85 2.2 2.5 1.9 1.8 1.7 2.5 4-85 2.5 2.8 2.4 2.5 2.6 5.5 4.5 1-86 1.7 1.9 1.4 1.2 1.1 1.1 0.4 161.6 162.0 165.0 164.8 - 5 .6 165.5 2-86 2.0 2.2 1.8 1.7 1.6 1.8 1.6 0.1 4 .0 5-86 2.4 2.6 2.5 2.5 2.5 2.6 2.6 2.0 5.0 6.0 4-86 2 .7 2.9 2 .7 2.7 2.8 5.1 5.2 2.9 5.2 5.8 164.9 167.5 5.6 169.6 1-87 2.6 2.8 2.6 2.6 2.7 5.0 5.0 2.8 4.4 4.6 5.9 2.1 2-87 2.5 2.6 2.4 2.4 2.5 2.7 2.7 2.4 5.7 5.6 2.8 1.4 0.7 5-87 2.5 2.5 2.5 2.5 2.5 2.5 2.5 2.2 5.2 5.0 2.5 1.2 0.7 170.5 170.8 0.7 171.1 4-87 2.6 2.7 2.5 2.6 2.6 2.8 2.8 2.6 5.5 5.4 5.0 2.5 2.4 5.2 5.7 1-88 2.4 2.5 2.4 2.4 2.4 2.5 2.5 2.5 5.1 2.9 2.5 1.8 1.8 2.1 2.8 0.0 2-88 2.8 2.9 2.8 2.8 2.9 5.0 5.1 2.9 5.7 5.6 5.5 2.9 5.1 5.7 4 .7 4.2 8.6 5-88 2.8 5.0 2.9 2.9 5.0 5.1 5.2 5.1 5.7 5.7 5.4 5.1 5.5 5.8 4.6 4.2 6.4 4.4 4-88 5.0 5.2 5.1 5.1 5.2 5.4 5.5 5.4 4.0 4.0 5.8 5.6 5.8 4.5 5.1 4 .9 6.6 5.6 6.9 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 175.5 175.5 177.1 179.0 182.0 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 7 , 1989 11 GROSS NATIONAL PRODUCT IN CURRENT DOLLARS (Compounded Annual Rates of Change) INITIAL QUARTER t e r m in a l QUARTER 1-84 2 -8 4 5-84 4 -8 4 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 2-84 8*9 5-84 7.4 5.8 4-84 6.5 5.5 4 .7 1-85 6.8 6.1 6.5 7.9 2-85 6.6 6.0 6.0 6.7 5.6 5-85 6.6 6.2 6.5 6.8 6.5 7.0 4-85 6.6 6.2 6.5 6.6 6.2 6.6 6.2 1-86 6.7 6.5 6.4 6.8 6.5 6.8 6.7 2-86 6.2 5.9 5.9 6.1 5.7 5.7 5.5 4.9 2.6 5-86 6.2 5.9 5.9 6.0 5.7 5.8 5.5 5.2 4.5 5.9 4-86 5.9 5.6 5.6 5 .7 5.4 5.4 5.1 4.8 4.0 4.7 5.4 1-87 6.1 5.9 5 .9 6.0 5.8 5.8 5.6 5.5 5.1 5.9 5.9 8.4 2-87 6.5 6.1 6.1 6.5 6.1 6.2 6.0 6.0 5.8 6.6 6.8 8 .5 8 .7 5-87 6.4 6.2 6.5 6.4 6.2 6.5 6.2 6.5 6.1 6.8 7.0 8 .2 8 .2 7.7 5-87 4-87 1-88 2 -8 8 5-88 BILLIONS OF DOLLARS ANNUAL RATES 5*754.2 5»807.9 5*851.8 5 »925.6 5*979.0 4*047.0 4*107.9 7.2 4*180.4 4*207.6 4*268.4 4*504.6 4.591.8 4*484.2 4*568.0 4-87 6.6 6.4 6.4 6.6 6.5 6.5 6.5 6.5 6.4 7.1 7.5 8 .5 8 .5 8.1 8 .6 1-88 6.5 6.5 6.4 6.5 6.4 6.4 6.4 6.4 6.5 6.8 7.0 7.7 7.6 7.2 7.0 5.4 2-88 6.6 6.5 6.5 6.6 6.5 6.6 6.6 6.6 6.6 7.1 7.2 7.9 7.8 7.6 7.5 7.0 8 .7 5-88 6.6 6.5 6.6 6.7 6.6 6.7 6.6 6.7 6.6 7.1 7.2 7.8 7.7 7.5 7.5 7.1 8 .0 7.5 4-88 6.7 6.6 6.6 6.7 6.7 6.7 6.7 6.8 6.7 7.1 7.5 7.8 7.7 7.5 7.5 7.2 7.8 7.4 7.6 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4*662.8 4 »724.5 4 »825.8 4 »909.0 4,999.7 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 GROSS NATIONAL PRODUCT IN 1982 DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 2-84 5.5 5-84 4.0 2.6 4-84 5.2 2.1 1.7 1-85 5.6 5.0 5.5 2-85 5.4 2 .9 5.0 5.7 2.4 5-85 5.5 5.1 5.5 5.8 5.5 4-85 5.4 5.1 5.2 5.6 5.2 5.5 5.0 1-86 5.8 5.6 5.7 4.1 4.0 4.5 4.6 6.4 2-86 5.5 5.0 5.1 5.5 5.0 5.1 2.8 2.7 -0 .8 5-86 5.1 2.8 2.8 5.0 2.7 2.7 2.4 2.2 0.1 1.0 4-86 2 .9 2.7 2.7 2.8 2.5 2.5 2.2 2.0 0.6 1.2 1-87 5.0 2.8 2.8 5.0 2.7 2.8 2.6 2.5 1.5 2.5 5.0 4.6 2-87 5.2 5.0 5.0 5.2 5.0 5.1 2.9 2.9 2.2 5.0 5.7 4.8 5.0 5-87 5.5 5.1 5.2 5.5 5.1 5.2 5.1 5.1 2.6 5.5 5.9 4.7 4.7 4.5 4-87 5.5 5.5 5.4 5.5 5.4 5.5 5.4 5.5 5.1 5.8 4.5 5.2 5.5 6.1 1-88 5.5 5.5 5.4 5.5 5.4 5.5 5.4 5.5 5.1 5.7 4.2 4.7 4.8 4.7 4.8 4-87 1-88 2-88 5-88 BILLIONS OF DOLLARS ANNUAL RATES 5,498.0 5*520.6 5*555.2 4 .9 5*577.5 5*599.2 4.1 5*655.8 5*662.4 5*719.5 5*711.6 5*721.5 5*754.7 1.4 5*776.7 5*825.0 5*865.5 5*925.0 5.4 5*956.1 2-88 5.4 5.5 5.4 5.5 5.4 5.5 5.4 5.4 5.1 5.6 4.0 4.4 4.4 4.2 4.2 5.2 5.0 5-88 5.4 5.5 5.5 5.4 5.5 5.4 5.5 5.5 5.0 5.5 5.8 4.1 4.1 5.9 5.7 2.9 2.7 2.5 4-88 5.5 5.2 5.5 5.4 5.5 5.5 5.2 5.5 5.0 5.4 5.6 5.8 5.6 5.5 2.8 2.6 2.4 2.4 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-86 5*985.2 4*009.4 4*055.4 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 12 GROSS RATIO SCALE T R I L L I O N S OF NATIONAL PRODUCT Q U A R T E R L Y TOTALS AT ANNUAL R A TE S RATIO SCALE DOLLARS S E A SO N AL L Y ADJU ST E D T R I L L I O N S OF D O L L A R S 5.4 5.2 ò 5.0 4.8 4.6 4.4 4.2 4.0 4. 3.8 4.8 4.6 4.4 4.2 4.0 3. 3.8 3.6 3. 3.4 3. 3.2 3 3.0 2 . 2 .8 2 1981 1982 1983 1984 1985 1986 SO U R C E « PERCENTAGES ARE LATEST PLO TTED« D ATA ANNUAL RATES 4T H OF CHANGE FOR P E R IO D S 1987 U .S . 1988 DEPA RTM E N T 1989 OF COMMERCE IN D IC A T E D . QUARTER PREPARED BY FEDERAL RESERV E BANK OF ST . L O U IS 13 2 . 6 GENERAL RATIO PRICE INDEX* SCALE RATIO SCALE 1982-100 1982-100 130 125 120 115 110 105 100 95 1981 *AS USED 1982 IN N A T I O N A L 1983 1984 1985 1986 INCOME A C C O U N T S 1987 1988 90 1989 S O U R C E * U.S. D E P A R T M E N T OF C O M M E R C E P E R C E N T A C E S AR E A N N U A L R A T E S OF C H A N G E FO R P E R I O D S INDICATED. L A T E S T D A T A PLOTTED* 4T H Q U A R T E R 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 OF ST. L O U I S IMPLICIT PRICE DEFLATOR FO R GROSS NATIONAL PRODUCT (Compounded Annual Rates of Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 3-84 4-84 1-85 2-84 3.0 3-84 3.2 3.4 4-84 3.1 3.2 3.0 1-85 3.0 3.0 2.8 2.6 2-85 3.1 3.1 3.0 3.0 3.3 2-85 3-85 4-85 1-86 2-86 3-86 1982 • 100 4-86 1-87 2-87 3-87 4-87 1-88 2-88 3-88 107.3 108.2 109.0 109.7 110.6 3-85 3.0 3.0 2.9 2.8 2.9 2.6 4-85 3.0 3.0 2.9 2.9 3.1 2.9 3.3 1-86 2.7 2.7 2.6 2.5 2.5 2.2 2.0 0.7 2-86 2.8 2.8 2.7 2.7 2.7 2.5 2.5 2.2 3.6 111.3 112.2 112.4 113.4 3-86 3.0 3.0 3.0 3.0 3.0 3.0 3.1 3.0 4.1 4.7 4-86 2.9 2.9 2.9 2 .8 2.9 2.8 2.9 2.8 3.5 3.4 2.1 1-87 3.0 3.0 2.9 2 .9 3.0 2.9 3.0 2.9 3.5 3.4 2.8 3.5 2-87 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.0 3.5 3.4 3.0 3.5 3.5 3-87 3.0 3.0 3.0 3.0 3.0 3.0 3.1 3.0 3.4 3.4 3.1 3.4 3.3 3.1 114.7 115.3 116.3 117.3 118.2 4-87 3.0 3.0 2.9 2.9 3.0 2.9 3.0 2.9 3.3 3.2 2.9 3.1 3.0 2.7 2.4 1-88 2.9 2.9 2.9 2.8 2.9 2.8 2.8 2.8 3.1 3.0 2.7 2.8 2.7 2.4 2.0 1.7 2-88 3.0 3.0 3.0 3.0 3.1 3.0 3.1 3.1 3.3 3.3 3.1 3.3 3.2 3.2 3.2 3.6 118.9 119.4 5.5 121.0 3-88 3.1 3.1 3.1 3.1 3.2 3.2 3.2 3.2 3.5 3.5 3.3 3.5 3.5 3.5 3.6 3.9 5.1 4.7 4-88 3.3 3.3 3.3 3.3 3.3 3.3 3.4 3.4 3.6 3.6 3.5 3.7 3.7 3.8 3.9 4.3 5.2 5.0 5.3 1-84 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1-87 2-87 3-87 4-87 1-88 2-88 3-88 122.4 124.0 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MARCH 2 3 » 1 9 8 9 14 PERSONAL CONSUM PTION EXPENDITURES IN CURRENT DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER BILLIO NS OF DOLLARS ANNUAL RATES INITIAL QUARTER 1-8« 2-84 9.8 5-84 7.7 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2 -8 8 5-88 2*417.0 5.6 2»450.5 2*493.4 4-84 7.5 6.4 7.2 1-85 8 .2 7.7 8.7 10.2 2-85 8 .0 7.5 8.2 8.7 7 1 2*554.9 2*599.5 5-85 8 .5 8.0 8 .6 9.1 8 5 9 9 4-85 8 .0 7.7 8.1 8.5 7 7 7 9 2*661.4 2*700.4 6.0 2*759.0 1-86 7.7 7.4 7.7 7.8 7 2 7 2 5.9 5 .8 2-86 7.4 7.1 7.5 7.5 6 7 6 6 5.6 5.4 4.9 5-86 7.7 7.5 7.7 7.8 7 4 7 4 6.8 7.1 7.7 10.6 2*772.1 2*842.8 2*876.0 4-86 7.4 7.2 7.4 7.4 7 0 7 0 6.4 6.5 6.7 7.6 4.8 1-87 7.4 7.1 7.5 7.5 6 9 6 9 6.4 6.5 6.7 7.5 5.6 2-87 7.6 7.4 7.5 7.6 7 5 7 5 6.9 7.1 7.5 7.9 7.1 8 .2 10. 5-87 7.7 7.5 7.7 7.7 7 5 7 5 7.2 7.4 7.6 8.2 7.6 8 .5 9. 9.1 4-87 7.5 7.1 7.5 7.5 7 0 7 0 6.7 6.7 6.9 7.2 6.5 7.0 7. 5 .7 2.4 2*921.7 6.5 2*992.2 5*058.2 5*076.5 5*128.1 1-88 7.5 7.1 7.2 7.2 7 0 7 0 6.7 6.8 6.9 7.1 6.6 7.0 7. 6.1 4.6 6.9 2-88 7.4 7.2 7.5 7.5 7 1 7 1 6.9 7.0 7.1 7.4 6.9 7.5 7. 6.8 6.0 7.8 8 .8 5-88 7.4 7.5 7.4 7.4 7 2 7 2 7.0 7.1 7.2 7.5 7.1 7.4 7. 7.1 6.6 8.1 8 .7 8 .6 4-88 7.5 7.4 7.5 7.5 7 5 7 5 7.1 7.2 7.5 7.6 7.2 7.5 7. 7.5 7.0 8.1 8 .5 8 .4 8 .2 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-8 2-87 5-87 4-87 1-88 2-88 5-88 5*194.6 5*261.2 5*526.4 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 PERSONAL CON SU M PTION EXPENDITURES IN 1982 DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER 1-84 2-84 6.4 5-84 4.1 INITIAL QUARTER 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 BILLIONS OF DOLLARS ANNUAL RATES 2*246.7 1.9 2*257.5 4-84 4.2 5.1 4.5 1-85 4.8 4.5 5.6 6 8 2-85 4.5 4.0 4.8 5 0 5.2 5-85 4.9 4.6 5.5 5 6 5.0 6.8 4-85 4.4 4.1 4.6 6 5.9 4.5 1.9 1-86 4.5 4.2 4.6 7 4.1 4.5 5.5 4.8 2*281.1 2*519.1 2*557.4 2*575.9 2*586.9 2*415.1 2-86 4.5 4.2 4.6 6 4.2 4.4 5.7 4.6 4.5 5-86 4.7 4.5 4.8 9 4.5 4.8 4.5 5.2 5.5 6.5 4-86 4.5 4.1 4.4 4 4.1 4.2 5.7 4.2 5.9 5.7 1.2 4.0 0 5.6 5.7 5.2 5.4 5.1 2.7 0.9 0.6 5.1 2.0 2.5 1-87 4.0 5.8 2-87 4.0 5.9 4 .0 0 5.7 5.8 5-87 4.1 5.9 4.1 4 1 5.8 4-87 5.7 5.5 5.6 5 5 5.2 5.5 2*440.9 2*478.6 2*486.2 2*490.2 4.5 5.5 5.6 5.9 5.5 5.7 5.6 5.4 2.7 5.2 4.5 4.6 5.2 2.9 5.0 2.7 2.5 1.7 1.8 2.2 1.2 -2 .1 2*516.6 2*545.2 2*551.7 1-88 5.7 5.5 5.7 5 6 5.5 5.4 5.0 5.2 5.0 2.8 2.2 2.4 2.8 2.5 1.2 4.5 2-88 5.7 5.5 5.6 5 6 5.5 5.5 5.0 5.1 5.0 2.8 2.5 2.5 2.8 2.5 1.8 5.8 5.0 5-88 5.7 5.5 5.6 5 6 5.4 5.4 5.1 5.2 5*1 2.9 2.5 2.7 5.0 2.8 2.5 5.8 5.5 5.9 4-88 5.7 5.5 5.6 5 6 5.4 5.4 5.1 5.2 5.1 5.0 2.6 2.8 5.1 2.9 2.5 5.7 5.5 5.7 5.5 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 2*559.8 2*579.0 2*605.8 2*626.2 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 15 GROSS PRIVATE DOM ESTIC INVESTMENT IN CURRENT DOLLARS (Compounded Annual Rates of Change) 1-84 2-8 4 3-84 4-84 1-85 2-84 0.7 5-84 2.2 5.7 4-84 -0 .2 -0 .7 -5 .0 1-85 -5 .6 -5 .0 -9 .0 ON M 1 2-85 -1 .5 -1 .8 -5 .6 -2 .9 5-85 -5 .7 -4 .5 -6 .5 -7 .0 4-85 -0 .8 -1 .0 -1 .9 -1 .2 5.1 1-86 1.8 1.9 1.6 5.0 0.5 0.5 -0 .2 0.6 2-86 BILLIONS OF DOLLARS ANNUAL RATES INITIAL QUARTER t e r m in a l QUARTER 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 664.2 670.5 661.8 659.5 8.4 652.5 -5 .9 -1 4 .8 626.7 0.6 18.7 7.4 7.1 20.0 5.6 2.4 8.8 654.1 21.4 686.6 4.2 -1 0.5 667.8 5-86 -0 .6 -0 .8 -1 .5 -0 .8 1.4 0.1 4.2 -0 .2 -9 .5 -8 .6 4-86 -0 .4 -0 .5 -0 .9 -0 .4 1.5 0.4 5.8 0.4 -5 .8 -5 .4 2.1 1-87 1.1 1.2 0.9 1.6 5.6 2.9 6.2 5.8 -0 .2 5.5 10.2 18.9 2-87 1.6 1.7 1.5 2.2 4.0 5.5 6.4 4.5 1.4 4.6 9.4 15.2 655.0 656.4 685.5 7.8 698.5 5-87 1.7 1.8 1.6 2.2 5.9 5.4 5.9 4.2 1.6 4.2 7.6 9.5 5.1 2.5 4-87 5.9 4.1 4.1 4 .9 6.7 6.6 9.5 8.1 6.4 9.5 15.5 16.5 15.7 19.9 40.5 1-88 5.6 5.8 5.8 4.5 6.1 5.9 8.2 7.1 5.4 7.9 11.0 12.8 11.4 12.6 18.0 -0 .8 2-88 5.2 5.4 5.5 4.0 5.4 5.1 7.2 6.1 4.5 6.5 8.9 10.1 8 .4 8 .5 10.6 -1 .8 -2 .7 702.8 764.9 765.4 758.1 5-88 5.5 5.6 5.6 4.2 5.6 5.5 7.2 6.2 4.8 6.7 8.8 9.8 8 .5 8.4 9.9 1.5 2.4 7.8 4-88 5.5 5.4 5.4 5.9 5.2 4.9 6.6 5.7 4.4 6.0 7.7 8.4 7.0 6.9 7.8 0.9 1.5 5.7 -0 .5 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 772.5 772.0 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 GROSS PRIVATE DOM ESTIC INVESTMENT IN 1982 DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 5-84 4-84 2-84 2.0 5-84 2 .8 5.6 4-84 0.1 -0 .8 -5 .0 1-85 -5 .2 -4 .9 -8 .8 -1 2 .4 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 658.4 664.2 655.7 654.5 2-85 -0 .9 -1 .7 -5 .5 -2 .5 5-85 -5 .8 -4 .9 -6 .9 -7 .6 4-85 -0 .6 -1 .1 -2 .0 -1 .2 2.9 1-86 1.7 1.7 1.4 2.7 6.9 6.5 20.5 2-86 - 0 .2 -0 .5 -1 .0 -0 .4 2.2 0.7 7.4 8.6 647.5 -5 .0 -1 7 .0 618.1 20.8 648.0 19.8 678.0 1.5 -1 4.4 652.1 5-86 -1 .7 -2 .1 -2 .8 -2 .5 -0 .7 -2 .5 1.5 -4 .2 -1 4.5 -1 4 .2 4-86 -2 .2 -2 .6 -5 .5 -5 .0 -1 .6 -5 .2 -0 .2 -4 .9 -1 1.9 -1 0 .6 627.6 -6 .9 616.5 1-87 -0 .4 -0 .7 -1 .1 -0 .6 0.9 -0 .1 5.0 -0 .2 -4 .7 -1 .2 6.1 20.9 2-87 0.2 0.1 -0 .2 0.5 1.8 1.0 5.8 1.2 -2 .1 1.2 7.0 14.6 8 .8 5-87 0.6 0.4 0.2 0.7 2.1 1.4 4.0 1.7 -1 .0 1.9 6.4 11.5 6.8 4.8 4-87 2.7 2.8 2.7 5.4 5.0 4.6 7.5 5.8 5.9 7.5 12.2 17.6 16.5 20.5 58.6 1-88 2.7 2.7 2.7 5.5 4.7 4.4 6.8 5.4 5.7 6.6 10.5 14.5 12.8 14.1 19.1 2.5 2-88 2.1 2.1 2.0 2.5 5.8 5.4 5.4 4.0 2.4 4.7 7.7 10.4 8.4 8 .5 9.5 -2 .6 5-88 2.5 2 .5 2.5 2.8 5.9 5.6 5.5 4.2 2.8 4.9 7.6 9.8 8.1 7.9 8.7 0.5 -0 .8 6.5 1.9 1.9 1.8 2.5 5.5 5.0 4.7 5.4 2.1 5.9 6.1 7.9 6.1 5.7 5.9 -1 .0 -2 .2 0.6 -4 .9 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 BILLIONS OF DOLLARS ANNUAL RATES 646.4 660.1 667.9 724.7 728.9 -7 .4 715.1 726.1 717.1 IN ITIA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 16 GOVERNMENT PURCHASES OF GOODS AND SERVICES IN CURRENT DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER INITIAL QUARTER 1-84 2-84 5-84 4-84 2-84 24.6 5-84 14.9 6.0 4-84 15.2 8 .0 9 9 1-85 12.6 8 .9 10 4 10.8 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2 -8 8 BILLIO N S OF DOLLARS ANNUAL RATES 5-88 755.8 746.6 764.5 784.4 801.7 2-85 11.9 9.0 10 0 10.0 9.1 5-85 15.5 11.2 12 5 15.4 14.7 20 6 4-85 12.6 10.7 11 6 12.1 12.5 14 2 840.2 856.7 8.1 847.8 1-86 10.5 8.4 8 8 8 .6 8.1 7 7 1.8 -4 .1 2-86 10.5 8 .7 9 0 8 .9 8 .5 8 4 4.6 2.8 10.5 5-86 9.9 8.4 8 7 8 .5 8.1 7 9 5.0 5.9 8 .2 6.1 4-86 9.2 7.7 7 9 7.7 7.2 6 9 4.4 5.5 6.1 4.1 2.1 1-87 9.1 7.8 7 9 7.7 7.5 7 1 5.0 4.4 6.6 5.4 5.1 8 .0 2-87 8.8 7.6 7 7 7.5 7.1 6 9 5.0 4.5 6.4 5.4 5.2 6.7 5.4 5-87 8.7 7.6 7 7 7.5 7.1 6 9 5.5 4.9 6.5 5.8 5.7 6.9 6.4 4-87 8 .5 7.5 7 6 7.4 7.1 6 9 5.5 5.2 6.5 5.9 5.9 6.9 6.5 7.0 6.6 1-88 7.9 6.9 7 0 6.7 6.4 6 2 4.8 4.5 5.6 4.9 4.7 5.5 4.6 4.5 2.8 - 0 .9 2-88 7.9 6.9 7 0 6.8 6.5 6 2 5.0 4.7 5.8 5.2 5.1 5.6 5.1 5.0 4.2 5.0 7.1 5-88 7.5 6.5 6 4 6.1 5.8 5 5 4.4 4.0 4.9 4.5 4.1 4.4 5.8 5.4 2.5 1.1 2.1 - 2 .6 4-88 7.9 7.0 7 1 6.9 6.6 6 4 5.4 5.2 6.1 5.7 5.6 6.1 5.8 5.9 5.6 5 .5 7.4 7.6 18.9 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 868.8 881.8 886.5 905.8 915.7 952.2 7.4 947.5 945.2 961.6 955.5 997.5 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25. 1989 GOVERNMENT PURCHASES O f GOODS AND SERVICES IN m 2 D O L L A M S (CoMpomried A m a i Rates of Change) TERMINAL QUARTER 1-84 INITIAL QUARTER 2-84 5-84 2-84 17.7 5-84 9.9 2.6 4-84 8 .5 5.9 5.2 1-85 8 .0 5.0 6.2 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 BILLIONS OF DOLLARS ANNUAL RATES 680.2 684.5 695.2 7.5 705.5 2-85 7.7 5.4 6.5 6.9 6.5 5-85 9.7 8.1 9.5 11.0 15.0 19.8 4-85 8 .5 7.0 7.9 8 .6 9.0 10.5 1.6 1-86 6.6 5.1 5.5 5.6 5.1 4.7 -2 .1 -5 .7 2-86 6.9 5.6 6.1 6.2 6.0 5.9 1.6 1.6 5-86 6.6 5.5 5.8 5.9 5.7 5.6 2.5 2.5 6.9 4.5 4-86 6.4 5.5 5.6 5.7 5.5 5.5 2.6 2.9 5.9 4.2 716.7 749.8 752.7 741.8 9.5 758.8 766.9 4.0 774.5 1-87 5.8 4.8 5.0 5.0 4.7 4.4 2.0 2.1 4.2 2.5 1.6 -0 .8 2-87 5.5 4.5 4.5 4 .4 4.1 5.8 1.7 1.7 5.5 1.8 0.9 -0 .6 -0 .4 5-87 5.5 4.4 4.6 4 .5 4.5 4.0 2.2 2.5 5.7 2.5 2.1 1.4 2.6 5.7 4-87 5.5 4 .5 4.6 4.6 4 .5 4.1 2.5 2.6 5.9 2.9 2.7 2.5 5.4 5.4 5 .0 1-88 4.4 5.6 5.7 5.5 5.2 5.0 1.4 1.4 2.5 1.5 0.8 0.2 0.5 0.7 - 1 .7 - 7 .9 2-88 4.4 5.6 5.7 5.6 5.5 5.0 1.6 1.6 2.5 1.6 1.5 0.8 1.1 1.5 0.2 -2 .2 5.9 5-88 5.8 5.1 5.1 5.0 2.7 2.4 1.0 1.0 1.7 0.9 0.4 -0 .1 0.1 0.1 - 1 .2 -5 .2 - 0 .7 - 5 .2 4-88 4.2 5.5 5.6 5.5 5.5 5.0 1.8 1.9 2.6 1.9 1.6 1.5 1.7 2.0 1.5 0.4 5.5 5.0 11.9 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 772.9 772.2 782.9 792.6 776.4 785.8 775.5 795.5 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 17 D IS P O S A B LE P E R S O N A L IN C O M E IN C U R R E N T D O L L A R S (Compounded A n n u a l R ates o f Change) TERMINAL QUARTER 1-84 2-8« 4.8 5-84 6.2 2-84 5-84 4-84 1-85 2-85 5-85 4-85 INITIAL QUARTER ANNUAL RATES 1-86 2-86 5-86 4-86 1-87 BILLIO N S OF DOLLARS 2-87 5-87 4-87 1-88 2-88 5-88 2 »642.8 7.5 2.691.1 4—84 6.0 6.6 5.7 1-85 5.9 6.2 5.5 5.4 2-85 7.5 7.9 8 .0 9.1 15.1 5-85 5.7 5 .9 5.5 5.5 5.5 4-85 6.2 6.4 6.1 6.5 6.6 5.5 8.6 1-86 6.5 6.8 6.7 6.9 7.5 5.4 9.0 9.4 2-86 6.6 6.8 6.7 6.9 7.2 5.8 8.4 8 .2 7.1 5-86 6.2 6.5 6.2 6.2 6.4 5.1 6.8 6.2 4.6 4-86 6.0 6.1 5 .9 6.0 6.1 4.9 6.5 5.7 4.5 5.2 4.5 1-87 6.4 6.5 6.4 6.5 6.6 5.8 7.0 6.7 6.0 5.7 7.5 10.7 2-87 6.0 6.1 5.9 6.0 6.0 5.2 6.2 5.8 5.1 4.6 5.4 5.9 1.5 5-87 6.2 6.5 6.2 6.5 6.4 5.6 6.6 6.5 5.8 5.5 6.5 7.0 5.2 9.5 2*728.6 2*764.6 2*850.7 -1 .5 2*840.0 2*899.5 2*965.1 5*016.5 2.2 5*052.4 5*064.7 5*145.9 5.154.1 5.224.9 4-87 6.6 6.7 6.6 6.7 6.8 6.2 7.1 6.9 6.6 6.5 7.4 8 .2 7.4 10.5 11.8 1-88 6.6 6.7 6.7 6.8 6.9 6.5 7.2 7.0 6.7 6.6 7.4 8 .0 7.4 9.5 9.6 7.4 2-88 6.6 6.7 6.6 6.7 6.8 6.5 7.0 6.8 6.6 6.5 7.1 7.6 7.0 8 .5 8.2 6.5 5-88 6.8 6.9 6.8 6.9 7.0 6.6 7.5 7.2 7.0 6.9 7.5 8 .0 7.6 8 .9 8.8 7.8 8.0 10.4 4-88 6.9 7.0 7.0 7.0 7.2 6.7 7.4 7.5 7.1 7.1 7.7 8.1 7.7 8 .9 8.8 8.0 8.5 9.6 8.8 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 5*515.8 5*575.6 5.6 5*421.5 5*507.5 5*582.5 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 DISPOSABLE PERSONAL INCOM E IN 1982 DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER 1-84 2-84 1.6 5-84 2 .7 2-84 5-84 4-84 1-85 2-85 5-85 4-85 INITIAL QUARTER ANNUAL RATES 1-86 2-86 5-86 4-86 1-87 2-87 BILLIONS OF DOLLARS 5-87 4-87 1-88 2-88 5-88 2*456.6 5.7 2*479.2 4-84 2.7 5.5 2.8 1-85 2.6 2.9 2.5 2*496.5 2.1 2*509.4 2-85 5.8 4.4 4.6 5 .5 8 .9 5-85 2.4 2.6 2.5 2.1 2.1 -4 .5 4-85 2.7 2.9 2.7 2.7 2.8 -0 .1 2*565.5 2*555.4 4.4 2*562.8 1-86 5.4 5.6 5.6 5.8 4.2 2.7 6.5 8.5 2-86 5.7 4.0 4 .0 4.2 4.6 5.6 6.4 7.4 6.5 5-86 5.1 5.5 5.5 5.5 5.5 2.5 4.5 4.2 2.5 -1 .8 4-86 2.9 5.1 5.0 5.0 5.2 2.2 5.6 5.4 1.8 -0 .5 0.8 1-87 5.1 5.2 5.2 5.2 5.5 2.6 5.8 5.6 2.5 1.2 2.7 4.6 2-87 2.5 2.6 2 .5 2 .5 2.5 1.7 2.6 2.5 1.2 -0 .1 0.4 0.5 -5 .9 5-87 2.7 2.8 2 .7 2.7 2.7 2.1 2.9 2.7 1.8 0.8 1.5 1.7 0.5 4—87 5.0 5.0 5.0 5.0 5.1 2.5 5.5 5.2 2.5 1.8 2.6 5.0 2.5 5.8 6.9 1-88 5.1 5.2 5.1 5.2 5.5 2.8 5.5 5.4 2.8 2.5 5.0 5.4 5.1 5.5 5.9 5.0 2-88 2.9 5.0 2 .9 2.9 5.0 2.5 5.2 5.0 2.5 2.0 2.5 2.8 2.5 4.1 5.9 2.5 0.0 5-88 5.0 5.1 5.1 5.1 5.2 2.8 5.4 5.5 2.8 2.4 2.9 5.2 5.0 4.4 4.5 5.5 2.8 5.6 4-88 5.1 5.2 5.1 5.2 5.2 2.8 5.4 5.5 2.9 2.5 5.0 5.5 5.1 4.4 4.5 5.6 5.2 4.9 4.1 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 2*614.5 2*655.9 2*645.9 2*649.4 2*679.6 2 »652.8 4.8 2»685.9 2*728.9 2*762.5 2*762.2 2*800.4 2*828.4 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MARCH 2 5 » 1 9 8 9 18 C O R P O R A T E P R O F IT S A F T E R T A X E S (Com pounded A n n u a l S a te s o f Change) TERMINAL QUARTER 1-8« 2-84 2-8 4 5-84 4 -8 4 2 -8 5 5-85 4-85 1-86 2-86 5-86 4-8 6 1-87 2 -8 7 5 -8 7 4 -8 7 1-88 2 -8 8 5-88 151.2 -1 4 .0 -2 5 .5 4-84 -1 1 .5 -1 5 .2 1-85 -1 9 .5 -2 4 .2 -2 4 .6 -5 9 .4 2-85 -1 5 .1 -1 7 .9 -1 5 .9 -2 0 .4 5-85 -1 0 .5 -1 1 .8 1-86 1-85 -5 .4 5-84 4-85 BILLIO NS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER -6 .6 -7 .2 -1 0 .1 -1 1 .0 141.4 -6 .1 159.2 122.8 4.6 124.2 -8 .6 -9 .5 10.7 17.1 -5 .5 -2 .9 15.7 18.5 19.9 129.2 155.2 -8 .8 -9 .5 0.5 -l.l -9 .1 -5 1 .0 2-86 -8 .5 -8 .9 -6 .6 -6 .7 1.7 1.0 -5 .9 -1 4 .0 7.5 5-86 -5 .4 -5 .7 -5 .2 -2 .7 5.5 5.4 2.6 -2 .6 15.8 25.0 4-86 -5 .6 -5 .6 -1 .1 -0 .5 6.9 7.2 5.4 2.0 16.2 20.9 125.2 125.4 152.6 157.9 17.0 1-87 -5 .9 -5 .9 -1 .7 -1 .2 5 .0 5.1 5.2 0.2 10.0 10.9 4.4 -6 .8 2-87 -2 .4 -2 .5 -0 .1 0.5 6.4 6.6 5.2 2.9 11.5 12.5 8 .6 4.7 17.6 5-87 -0 .6 -0 .5 1.9 2.6 8 .2 8.6 7.6 5.9 15.8 15.1 12.7 11.4 21.7 26.0 4-87 -1 .2 -1 .1 0.9 1.5 6.4 6.6 5.5 5.8 10.1 10.5 7.8 5.7 10.2 6.6 -9 .8 155.5 141.1 149.5 145.7 1-88 -0 .5 -0 .5 1.6 2.2 6.8 6.9 6.0 4.5 10.1 10.5 8 .5 6.6 10.5 7.9 -0 .1 10.6 2-88 1.5 1.8 5.8 4.6 9.0 9.4 8 .7 7.7 15.2 15.9 12.4 11.7 15.8 15.5 11.9 24.7 5-88 2.5 2.7 4.6 5.5 9.6 10.0 9.4 8 .5 15.5 14.2 12.9 12.4 15.9 15.6 15.1 22.0 28.1 16.7 4-88 2.8 5.2 5.0 5.7 9.7 10.1 9.6 8.8 15.4 14.0 12.8 12.5 15*5 15.0 12.9 19.4 22.4 14.2 11.8 1-84 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 149.4 162.7 40.7 169.1 175.9 INITIAL QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MARCH 25» 1989 HISTORICAL SOURCES OF RATIONAL INCOME AND PRODUCT ACCOUNTS DATA Estimates for the series in the regular quarterly presentation of NIPA tables for 1985-88:11 are published in the July 1988 Survey of Current Business. Data for 1984 is in the July 1987 Saryey_of Current Business and 1983 is in the July 1986 Survey of Current Business. Estimates for NIPA series for 1929-82 are published in The National Income and Product Accounts of the United States. 1929-82:__ Statistical Tables. For further information and prices, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. 19 INVENTORIES COMPARED WITH MONTHLY SALES MANUFACTURING AND TRADE SEASONALLY ADJUSTED 72 72 I .6 8 68 1 .6 4 64 1 .6 0 60 56 56 52 52 1.4948 48 44 44 1 .4 0 40 36 36 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCE: U.S.DEPARTMENT OF COMMERCE * BEG INNING IN 1982, INVENTORY DATA REFLECT CHANGES IN ESTIMATION PROCEDURES. SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS. LATEST DATA PLOTTED! JANUARY PRELIMINARY PREPARED 20 BY FEDERAL RESERVE BANK OF ST. LOUIS
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