Full text of National Economic Trends : August 1968

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n o T io n m Econom ic
PREPARED

MONTH EN D IN G :

July 31, 1968

BY

FED E R A L

R ESER V E

BAN K

treads
OF

ST. LOUIS

RELEASED:

A u gu st 21, 1968

L a te st e stim a te s now show that total spending in the
A p ril-J u n e q u a rter was at an annual rate o f $852 b illio n , up at a
1 0 .2 p er cen t annual rate fr o m the f i r s t q u a rte r. F r o m fou rth
qu arter 1967 to se co n d q u a rter 1968, spending has grow n at a 1 0 .3
p er cen t ra te . R e a l p rod u ct clim b e d at an unsustainable 5. 7 p er
cent annual rate in the se co n d q u a rte r.
A bou t o n e -h a lf o f the la te s t gain in total dem and was
m a n ifested in an in c r e a s e of g e n e ra l p r ic e s at a 4. 1 p er cen t ra te.
C iv ilia n em p loy m en t has r is e n at about a 2 p er cen t annual rate
so fa r this y e a r; in d u stria l p rod u ction o v e r the sam e p e rio d has
in c r e a s e d at a 5 p er cen t rate co m p a re d with a 1961 to 1967 trend
o f 6. 5 p er cent.
C o n su m e rs , r e fle c tin g a 10 p er cen t rate o f gain in
p e rso n a l in co m e sin ce la s t fa ll, have continued to in c r e a s e their
spending fo r both du rable and nondurable g o o d s . R e ta il sa le s
have r is e n sin ce e a rly this y ea r at a 15 p er cen t ra te , co m p a re d with
a 6 p er cen t ra te fr o m 1961 to 1967. Spending on d u ra b le goods
has been e s p e c ia lly p ron ou n ced . The in v e n to r y -s a le s ra tio fe ll
fr o m 1. 53 at the end o f 1967 to 1 .5 0 in June, about the sam e as the
1961 to 1967 a v e ra g e .
C on su m er p r ic e s r o s e at about a 4. 5 p er cen t rate in
the s ix m onths ending with June and during the p ast y ea r have
r is e n about 4 p er cent. W h olesale in d u stria l p r ic e s have r is e n
at n ea rly a 3 per cen t rate during the past y e a r . W h olesa le
p r ic e s o f a ll co m m o d itie s have in c r e a s e d by about that sam e
p e rce n ta g e .




2
TOTAL C IV IL IA N

t MP L O Y M E N T

COMPOUNDED ANNUAL RATFS OF CHANGE________________________________________________________________________________

THOUSANDS
MONTH
12-66
01-67

5.0

02-67

2.2

01-6T

02-67

03-6?

OH-6? 05-67

C6-67 07-67

08-67

09-47

10-67

11-67

12-67

01-68

02-68

03-68

04-68 0 5-68

06-68
74.094

.5 -

03-67

2.2-

04-67

•6

05-67

•8-*.

74.063
2.8-

73.822

.82.2-

73.939

1 *5
2.7-

2.2-

6.1-

73.550

06-67

i.e.

.2

.4

1.9

1.9

10.6

07-67

1.6

1.0

1.4

2.7

3.0

7.e

5.1

08-67

1.P

1.3

1.6

2.8

3.0

6.2_

4. 1

3.0

09-67

1.5

1.1

1.3

2.2

2.3

4.5

2.6

1.3

10-67

1.5

1.2

1.4

2. !

3.9

2.3

1.4

.6

1,6

11-67

i.e

1.5

1.7

2.4

2.5

4.0

2.7

2.1

1.8

?.0

4.4

12-67

2.4

2.2

2.5

3.2

3.3

4.8

3.8

3.6

3.7

5.1

7.0

74.169
74.478
74.664
74.638

.4-

74,735
__ 7 5 . 0 0 5
9.6

75.577

01-68

1.7

1.5

1.6

2.2

2.2

3.3

2.3

1.9

1.6

2 .1

¿«3

1.3

6.3-

C2-68

2.2

2.0

2.3

2.8

2.9

4.0

3.2

2.9

2.9

3.6

¥.1

3.9

1.2

9.4

03-63

2.2

2.0

2.2

2.7

2.8

3.7

3.0

2.7

2.6

3.1

3.5

3.2

. 1. 2

5.2

04-68

1.9

1.7

i.e

2.3

2.3

3.1

2.4

2.1

2.0

2.3

2.4

2.0

.2

2.5

05-68

1.9

1.8

1.9

2.3

2.4

3.1

2.5

2.2

2.1

2.4

2.5

2.2

.8

2.7

.5

.2

3.1

06-68

?.C

1.9

2.C

2.4

2.4

3.1

2.5

?* 3

2.2

2 *5

2.7

2.4

1.3

2.8

1.3

1.3

3.3

3.5

07-68

1.9

1.7

1.9

2.2

2.3

2.9

2.3

2.1

2.0

2.3

2.3

2.1

1.1

2.3

1.0

.9

2.1

1.7

12-66

C 1-67

C2-67

03-67

04-67

05-67

C6-67

07-67

08-67

09-67

10-67

11-67

11 2 - 6 7

01-68

02-68

03-68

04-68

05-68

INITIAL

75.167
75,731
1.1

75.802

.7-

2.6-

75.636

P REPA RE D BY F E D E RA L

INITIAL
12-66

01-67

01-67

4.7

02-6 7

3.5

2.3

03-67

2.C

1.4

04-67

1.6

.6

02-67

C3-67

04-67

05-67

C6-67

07-67

76.048
.2 -

06-68

AUGUST

8.

R E S E * V E PANK OF

09-67

ST.

LOUS

1968
T HOUS A NDS
OF PERSONS

MCNTH

08-67

76.038

MONTH

P A Y R O L L EMPL OYMENT
COMPOUNDED ANNUAL R A T E S OF CHANGE
T E R MI N A L
MCNTH

75.829

10-67

11-67

12-67

01-68

02-68

03-68

04-68 05-68

06-68
65.524

65.646
.5
.2-•

65.672
1.0-

65.619

05-67

1.5

.7

.2

.0

1.1

06-67

1.7

1.1

.8

.9

1.9

2.7

65.677
65.821

07-67

1.7

1.2

1.C

1.1

1.9

2.3

1.8

O B- 67

2. 1

1.7

1.7

1.9

2.6

3.1

3.4

5.0

09-6 7

1.7

1.4

1.3

1.4

1.9

2.1

1.9

1.9

65.920
66.186
1.2-

66.123

10-67

1.9

1.6

1.5

1.6

2.0

2.2

2.1

2.2

.9

3.0

11-67

2.«

2.3

5.3

2.5

3.1

3.4

3.5

4.0

3.6

6.1

9.3

12-67

2.7

2.6

2.6

2.8

3.3

3.6

3.8

4.2

4.0

5.8

7.2

5.2

01-6e

2.5

2.3

2.4

2.5

2.9

3.2

3.3

3.5

3.2

4.3

4.7

2.6

.0

0?-6P

3. 1

2.9

3.C

3.2

3.6

3.9

4.1

4.4

4.3

5.5

6. 1

5.0

4.9

10.2

03-68

2.9

2.8

2.8

3.0

3.4

3.6

3.7

4.0

3.8

4.7

5.0

4.0

3.6

5.5

C4-68

2.8

2.7

2.8

2.9

3.3

3.5

3.5

3.7

3.6

4.3

4.5

3.6

3.1

4.2

1.4

1.8

05-68

2.7

2.6

2.6

2.8

3.1

3.2

3.3

3.4

3.3

3.8

3.9

3.1

2.6

3.3

1.1

1.2

.7

66.286
66*778
67,060
67.058
67.600
1.0

67.656
67,755
67.792

06-68

2.e

2.7

2.7

2.8

3. 1

3.3

3.3

3.4

3.3

3.8

3.9

3.2

2.8

3.4

1.8

2.0

2.2

3.7

07-68

2.8

2.7

2.7

2.8

3.1

3.2

3.3

3.4

3.3

3.7

3.8

3.1

2.8

3.3

2.0

2.2

2.4

3.3

2.8

1 2-66

C 1— 6?

0 2 - 6 7 T J S - & 7 ' 0*1- 67 0 5 - 6 ?

06-^7

07-67

08-67

<W-6t

t d — 67

11— 67

i2 -b t

bl-68

02-60

ÖS-68

04-68 ö i - 6 8

06-60

67.997P
68.156P

I N I T I A L MONTH
P-

PRELIMINARY




PREPARE O BY F E O E R A L RE S E RV E

AUGUST 8 ,

TO F

PANK OF

ST.

LOUIS

3

Em ploym ent
Ratio Scale

Ratio Scale

Source: U.S. D e p a rtm e n t of L a b o r
Percentages are a n n u a l rates of c h a n g e between periods indicated.They are presented to aid in
comparing most recent developm ents with p ast"tre n d s.”
Latest d a t a plotted: July preliminary




P repared by Federal Reserve Bank of St. Louis

4

I N D U S T R I A L PRODUCTION
C OMPOUNDED AN NU A L l A t - C S O F ¿ M A N G E

MONT H
12-66

01-67

01-67

9.3-

02-67

1 0.H-

11.5-

03-67

7.5-

03-6 7

02 1 - 67

OH-67

0A-A7

09-A7

4.2-

.H -

05-67

5.8-

H.9-

2.5-

3.0-

6.7-

06-67

H.fl-

3-9—

1-9-

?.0-

3.H—

07-67

3,1-

2.0—

•0

08-67

______1 . 3 -

.1-

1.9

2.6

09-67

2 .2-

1.3 -

.2

.5

2.0-

1.1-

6.6

10.0

12.1

.5

2.3

3.1

.8

9.H—

2.0

2.5

.8

H.5-

_5 j» 1_____6 . 1

5.7

.5

H.2

H.8

5.3

7.2

8.H

8.5

H.O

5.5

6.3

6.0

1«*A-ft
.8

7.6

13.9

2,2

3,5

3.9

H.2

5*5

6.2

6 . 0 ___5 . 0

2.6

2.8

H.2

H.5

5.7

6.H

6.2

5.H

8.1

H.9

5.3

5.1

H.2

6.0

5.8

5.1

1.H

2.2

3.2

3.6

3.8

2.0

2.8

.. _3 , 8 _

H.2

H . 3 _ __ 5♦ $_

06- 6. 8.

2.2

_ .3
01-67

3.9

......*1*2

J*J5L._ J U 2 L
02-6 7

03-67

...

» U S . ..

5.H

... 5 * 9

162-0

20.5

8.2

161.2

6.H

.0

9.6

6.7

2.5

6.9

7.7

6.3

7.3

H.6

.9

3.3

1.9

7.1

8.0

5.9

3.1

5.5

5*J . _

3.1

5.3

8. ..... 1*6..

5.0 .

U. 5

OU-67

21.2

5.8-

1.8

OH-68

156.9
____1 5 9 . 5

0 2 - 6 8 ______ 1 . 3

05-68

.

6. 1

162.0
163.0
3.6H.l
5*1

H* 2

06-67

07-67

08-67

05-67

INITIAL

10-67

162.5
12.5

11-67

12-67

01-68

02-6 8

03-6 8

16U. 1

a . i L ..... H* 5 ...
7.1

jr*2_

05-67

O H - 68 0 5 - 6 8

MONT H

PREPARED BY F E D E R A L RE S E R V E
AUGUST

16,

1968

... 1

k- J>____ U . 5

PRELIMINARY




—

*«;.a

158.1

03-68

_2j

....

1 56 .

3. 1

3*3

1.9

i

8.0

3.0

2.6

-n
3.9

____ . 6

1,0

P-

n k - A f t f t S - Af l O A - A A

01-Afl

_ 155.6

.3

,3

1.6

12-66

12-A7

156.5

2.5

12-67

2 ,1

11-A7

.8

1.0

01-6 8

.07-68

lfl-67

1RA. l i

1.5-

______ . 0

07-67

156.6 _

6.6—

10-67

06-6 7

158

O H - 6 7 ______5 . 5 -

___1 1 - 6 7

05-6 7

06-68

4 k . 7P

_JL&5^3£_

5

Industrial Production
Ratio Scale

Ratio Scale

Percentages are ann ual rates of c h a n g e between periods indicated.They are presented to aid in
com paring most recentdevelopments with p ast "tre n d s.”
Latest d a t a plotted: July prelim inary




Prepared b y Federal Reserve Bank of St. Louis

6
R E T A I L SALES
__________ ________________________________________________________________ COMPOUNDED A N NU AL K A T E S OF CHANGE_________________________________________________________ ________________
M I L L I O N S OF
T E R M I N A L ___________________________________________________________________________ I N I T I A L MONT H
______________________________________________________________________ D O L L A R S
MONTH
12-66 0 1 -6 7 02 -6 7 03 -6 7 0 4- 6 7 0 5-6 7 06 -6 7 07-67 0 8- 6 7 09 -6 7 10-67 11-67 12-67 0 1 -6 8 02-6 8 0 3 -6 8 0 4- 6 8 0 5 -6 8 0 6 - 6 8
01-67

16.2

02-6 7

2.4

03-67

6.0

1.2

13.4

04-67

6.6

3.7

11.0

25.687
9.7-

25,470
25.739
8.7

25,918

05-67

5. 1

2.5

6.9

3.7

06-67

9.5

8.2

13.2

13.1

15.4

34.5

07-6 7

7.4

6.0

9.4

8.5

8.4

13.4

4.4-

08-67

6.3

5.0

7.6

6.5

6.0

8.4

2.7-

1.0-

09-67

7.2

6.2

7.9

7.7

10.0

2.9

6.7

10-67

3.4

2.1

2.3

1.3

1.8

5.1-

5.3-

7.3-

25.3-

11-67

4.5

3.4

3.9

3.3

4.0

1.2-

.4 -

.2 -

7.0-

15.8

12-67

4.3

3.3

4.7

3.8

3.2

3.8

.6-

.2

.5

3.9-

9.1

2.7

01-68

6.2

5.4

6.9

6.2

6.0

6.8

3.4

4.8

5.9

3.8

15.8

15.8

30.6

02-68

6.8

6.1

7.6

7.1

6.9

7.8

4.9

6.3

7.5

6.1

15.8

15.8

23.0

15.8

03-68

8.6

8.1

9.6

9.3

9.3

10.4

8.0

9.7

11.3

1 0.7

19.7

20.7

27.4

25.8

36.6

04-68

6.6

6.0

7.2

6.7

6.6

7.3

4.9

6.0

6.9

5.8

12.1

11.3

13.6

8.5

4.9

19.4-

05-68

7.2

6.7

7.9

7.5

7.4

8.1

6.0

7.1

8.0

7.2

12.8

12.3

14.4

10.6

9.0

2.7-

06-68

7.4

6.9

7.6

7.6

8.3

6.3

7.3

8.2

7.5

12.5

12.0

13.7

10.5

9.3

1.4

13.7

10.1

07-68

9.0

8.6

9.7

9.5

9.6

10.4

8.7

9.9

10.9

10.5

15.4

15.4

17.3

15.2

15.1

10.3

22.5

25.0

42.0

12-66

01-67

02-67

03-67

04— 67" 0 5 - 6 7

06-67

07-67

08-67

09-67

10-67

11-67

12-67

01-68

02-68

03-68

04-68 O i-6 8

06-68

3.7

1.0-

25,897
26.544
26,444
26,422
15.0

26,732

INITIAL
P-

26,089
26,411
26,470
27,065
27,399
28,120
27,620
17.5

27,993
28,218P
29.055P

MONTH

PRELIMINARY
PREPARED BY F E D E R A L RE S E R VE
AUGUS T 1 2 , 1 9 6 8

BANK OF

ST.

LOUIS

PERS ONAL I NCOME
COMPOUNDED ANNUAL R A T E S O F CHANGE
INITIAL

TFRMI NAL
MONTH
1 2-66

C 1-67

C2-67

03-67

CM-67

05-67

C6-67

07-67

08-67

WÜNTH

09-67

10-67

..

1 1-67

12-67

01-68

0 2 - 6 8 , 03. 768.

J t o - M ..............
612.1

01-67

1 C. 1

02-67

7.5

5.0

C3-67

7.0

5.5

6.0

04-67

5.7

4.3

14.C

2.0

C5-67

5.4

4.2

4.C

2.9

3.9

06-67

6.2

5.5

5.6

5.4

7.2

10.6

614.6
617.6
618.6
620.6
625.8
629.8

07-67

6. 5

5.9

6. C

6.0

7. H

9.2

7.9

08-67

6.8

6.3

6.5

6.6

7.6

9. 1

8.3

8.7

09-6 7

6.6

6.2

6.3

6.4

7.3

8.1

7.4

7.1

5.4

10-67

6. 1

5.7

5.8

5.7

6.4

6.9

6.0

5.3

3.6

11-6 7

6.8

6.5

6.6

6.7

7. M

8.0

7.5

7.4

6.9

7.7

13.8

12-67

7.5

7.2

7.5

7.6

8.4

9.0

8.8

8.9

9.0

10.2

14.6

15.3
4.3

634.2
637.0
1.9

638.0
644.9
652.6

01-66

7.2

7.0

7.2

7.3

7.9

8. M

8.1

8.1

8.0

8.7

11.0

9.7

02-68

7.8

7.7

7.9

8.0

8.7

9.2

9. 1

9.2

9.3

10.1

12.2

11.7

9.9

15.9

03-66

e .z

8.1

Ç.3

8.5

9. 1

9.6

9.5

9.7

9.9

10.6

12.5

12.1

11.1

14.7

13.4

C4-68

b.O

7.7

e. 1

8.2

-8.8

9 .2

9. 1

9.2

9.2

9.8

11.2

10.7

9.5

11.3

9.1

5.0

9.4

9.9

11.1

10.6

9.7

11.1

9.5

7.6

10.3

05-68

a

06-68

8.2

07-68

. 1

B I L L I O N S OF
_____ d o l l a r s
ANNUAL R A T E S

654.9
663.0
670.0
672.7

8.C

£.2

8.M

8.9

9.3

9.2

9.3

8.1

e.i

8.5

9.C

9.4

9.3

9.4

9.4

9.9

10.9

10.5

9.8

10.9

9.7

6.4

10.2

10.2

9.C

9.4

9.3

9.4

9.5

9.9

10.8

10.5

9.8

10.8

9.8

8.9

10.2

10.1

10.1

08 -67 0* -6?

10-67

11-67

12-67

01-68

02-68

03-68

04-68

0 5- 6 f c

06-68

8.3

8.2

6.4

12-66

OT-er

C2-67

P - Pfor
R E FRASER
LIMINARY
Digitized


8.6

C 3 -6 7 C m- 6 7

C5-47 C4-67 07-67

initial

w

678.2
683.7
689.2F

m

P REPARE D BY F E D E R A L R E S E R V E BANK OF ST * L O U I S
A u g u s f i v w n --------------------------------------------------------------------------------------




7

Retail Sales
Ratio Seal«

Ratio Seal«

Sour ce: U. S. D e p ar t me nt of C o m m t r c «
Percentages are annual rates of change between periods indicated. They are presented to aid in
comparing most recent developments with past "trends."
Lat est dat a plotted: July preliminary
Prepared byFederalReserveBankofSt.Louis

Personal Income
Ratio Seal«

Ratio Scale

Sour c« : U.S. Depar t ment of Commer c e
Percentages are annual rates of change between periods indicated.They are presented to aid in
comparing mostrecentdevelopments with pas f' tr e nd s.”
Latest d at a plotted: July preliminary
Prepared by Federal Reserve Bank of St. Louis

8
GROSS N A T I O N A L P RODUCT I N C U R RE N T O C L L A R S
COMPOUNDED AN NU AL R A T E S OF C HANGE
TERMI NAL
QUA R T E R

0
•r
1

03-63

t>
Ul

INITIAL
C 1-64

02-64

03-64

04-64

C 1-65

02-65

03-65

inrn m sru F
DOLLARS
' ÄNNCTSt ( TATES"
04-67 01-68

QUA R T E R

04-65

01-66

02-66

03-66

OU-63

7.7

01-64

7.9

8.1

02-6»»

7.5

7.5

6.8

03-64

7.4

7.4

7.0

7.1

04-64

6.7

6.5

6.0

5.5

3.9

01-65

7.5

7.5

7.3

7.5

7.6

11.4

02-65

7.6

7.6

7.4

7.6

7.8

9.7

8.0

03-65

7.8

7.8

7.8

8.0

8.2

9.6

8.7

9.4

04-65

8.2

8.3

6.3

8.5

8.8

10.1

9.6

10.4

11.4

01-66

8.5

8.5

8.6

8.9

9. 1

10.2

9.9

10.5

11.1

10.8

02-66

8.3

8.4

6.4

8.6

8.8

9.6

9.3

9.6

9.6

8.8

6.8

03-66

8.2

8.3

e.3

8.4

8.6

9.3

8.9

9.1

9.0

8.2

7.0

04-6 6

8.2

8.2

€.3

8.4

8.5

9.1

8.8

8.9

8 *8

8.2

7.4

7.7

8.1

01-67

7.8

7.8

7.7

7.8

7.9

8.3

7.9

7.9

7.7

7.0

6.0

5.8

5.1

04-6 6

01-67

02-6 7

03-6 7

605.8
617.7
628.0
638.9
645.1
662.8
675.7
691.1
710.0
728.4
740.4
7.2

753.3
768.2
2.1

772.2

02-67

7.5

7.5

7.5

7.5

7.5

7.9

7.5

7.5

7.2

6.5

5.7

5.4

4.8

3.2

4.2

03-67

7.5

7.5

7.5

7.5

7.6

7.9

7.6

7.5

7.3

6.7

6.0

5.9

5.6

4.7

6.1

04-67

7.6

7.6

7.5

7.6

7.6

7.9

7.6

7.6

7.4

6.9

6.3

6.3

6.1

5.6

6.8

8.1

8.1

01-68

7.7

7.7

7.7

7.8

7.8

8.1

7.8

7.8

7.7

7.3

6.8

6.8

6.8

6.5

7.6

8.8

9.2

10.4

02-68

7.9

7.9

7.9

7.9

8.0

8.3

8.0

8.0

7.9

7.6

7.2

7.3

7.3

7.1

8.2

9.2

9.6

10.3

------------

Ü 3 - 6 T Q V - 6 3 ~ 0 T - 6 4 ‘“0 2 = * V 0 3 - 6 4 ~ 0 4 - 6 U C P ^ 5 - - 0 2 ^ 6 5 - 0 3 - * 5 " W - 6 5 - 0 1 - 6 6 • 0 2 F W 1 ) 5 = 6 6 ~ 0 * =6 6 0 1 - 6 7

TNl ! I AL
—

780.2
8.0

795.3
811.0
831.2
10.2

851.6

0 2 - 6 7 0 3 - 6 7 " 0V- 5 7" " 0 T - ~6 8--------------------------------

QUA RT E R

— --------- ......... ---------— •— -------- ..... ..... -

1>R¥PARED BY F E D E R A L R E S E R V E T O U T U F ' S T . '
AU GUS T 1 6 t 1 96 8

COUfS“

GRCSS N A T I O N A L PROOUCT I N C O N S T A N T 1 9 5 8 COL L A R S
COMPOUNDED ANNUAL R AT E S OF CHANGE_______________________________
INITIAL

T E R MI N A L
CffAWTER
03-63
5.U

01 - 6*1

6.0

0 2 -6 4

5 .8

C 1-6*« 0 2 - 6 4

C3-64

04-64

C1-65

02-65

03-65

04-65

01-66

02-66

03-66

04-66

01-67

02-67

03-67

B I L L I O N S OF
DOLLARS
ANNUAL RA T E S
04-67 01-68
562.1
571.1

6 .0

5 .4

5 78 .6

_5_.2_

5 85 .8

0 3-6 4

5 .6

5 .7

0 4 -6 4

4 .9

M . 7 ___ 4 . 1

3 .5

1 .9

0 1 -6 5

5 .6

5 .6

5 .3

5 .3

5 .5

9 .2

0 2 -6 5

5 .6

5 .7

5 .5

5 .5

5 .6

7 .6

6 .0

0 3 -6 5

5 .9

6 .0

5 .9

6 .0

6 .3

-*i
•
CO

OH- 6 3

04-63

QUA RT E R

7.1

8 .2

0 4 -6 5

6 .3

6 .4

6 .4

6 .6

6 .9

8 .2

7 .8

8 .8

9 .4

0 1 -6 6

6 .5

6 .6

6 .6

6 .7

7 .0

8. 1

7 .8

8 .4

8 .6

J . 1

5 8 8 .5
6 01 .6
6 1 0 .4
__________________ 6 2 2 . 5
6 36 .6
_

7 .8

6 53 .3

02-6 6

6. 1

6 .2

6 .2

6 .3

6 .U

7 .2

6 .8

7 .0

6 .7

5 .3

2 .9

0 3 -6 6

5 .9

6 .0

5 .9

6 .0

6 .1

6 .7

6 .3

6 .4

5 .9

4 .8

3 .4

3 .9

0 4 -6 6

5 .8

5 .9

5 .8

5 .9

6 .0

6 .5

6 .1

6.1

0 1 -6 7

5 .4

5 .3

5 .2

5 .2

5 .3 _

5 .6

5 .2

A*_L

6 4 8 . 6 ___

6 59 .5

5 .7

4 .8

3 .8

4 .3

4 .7

4 .6

3 .6

2^6

2 .5 _

1.9

0 2 -6 7

5 .1

5 .1

5 .0

5 .0

5 .0

5 .3

4 .9

4 .7

4 .2

3 .4

2 .5

2 .4

2 .0

0 3 -6 7

5. 1

5 .0

H .9

4 .9

4 .9

5 .2

4 .8

4 .6

4^2

3 .5

2 .8

2 .7

2 .4

667. 1
6 6 5 .7

___ . 8 .6
J .7

6 6 9 .2

2 .1
3 .0 ^

6 75 .6

3 .9

0 4 -6 7

5 .0

5 .0

4 .8

4 .8

4 .8

5 .0

4 .7

4 .5

4 .1

3 .5

2 .9

2 .9

2 .7

2 .2

3 .2

3 .8

3 .7

0 1 -6 8

5 .1

5 .0

5 .0

4 .9

4 .9

5 .1

4 .8

4 .7

4 .4

3 .8

3 .4

3 .4

3 .3

3 .1

4 .1

4 .7

5 .1

6 .6

6 92 .7

4 .4

5 .0

5 .3

6 .1

5 . 7 _______ 7 0 2 . 3

0 2 -6 8

5 .1

5 .1

5 .0

5 .0

0 T - 6 Ï 0 U - 6 3 c n - 6 1 » TJ2- 6T»




5 .0 _

CJ-6*

5 .2

4 .9

4 .8

04-64 T T= 65 H 02 -6 5

4 .0

3 .6

03^65~0U-65

OT-66

4 .5

3 .7

3 .7

< S2 - ô ï ~ 7 ï 3 ^ 6 6

___3 . 5

0T*-6^in-67

6 8 1 .8

02=«T"TO=57'Trt-"67

I N I T I A L TJÜÄRTEff"
P W & J RED BY" F E Ü E R A L
AU GUS T 1 6, 1 96 8

RESER VE' BANK

OF ' S T .

LOUIS

9

D e m a n d a n d Production
Ratio Scale

Q uarterlyT otals at A n n u a l Rates

LL G N P in current dollars.

R a t i o Sea le

Source: U S ‘ Departm ent of C om m erce

[2 G N P in 1958 dollars.
Percentages are a n n u a l rates of ch ange between periods indicated.They are presented to aid in
comparing most recent developm ents with p ast "trends.”
Latest d a ta plotted: 2nd quarter




Prepared b y Federal Reserve Bank of St. Louis

10
CONSUMER

PRICE

INOEX

-CflHEflUHPEP ANNUAL RAT £S_.flUE

•
& H A N£f._

T ERM I NAL
MONTH
11-66

12-66

01-67

02-67

03-67

04-67

05-67

06-67

1.1

01-67

.5

.0

02-67

.7

.5

1.1

03-6 7

1.1

1.1

1.6

2.1

1.5

1.6

2.1

2.7

3.2

05-67

1.8

1.9

2 .H

2.8

3.2

06-6 7

2. 1

2.3

2.8

3.2

3.5

3.7

4.2

07-6 7

2.5

2.7

3.2

3.6

4.0

4.2

4.8

5.3

08-67

1
0
■r
1
o*

12-66

07-67

08-67

09-67

10-67

11-67

12-67

01-68

02-68

03-6 8

04-6 8

05-68
114.7
114.7
114.8
115.0
115.3

3.2

11 5 . 6
116.0
116.5

2.7

2.9

3.3

3.7

4.0

4.2

4.6

4.7

4.2

0 9 - 6 7 ______ 2 . 6

2.8

3.2

3.5

3.7

3.8

3.9

3.9

3.1

10-67

2.8

2.9

3.3

3.6

3.8

3.9

4.0

3.9

3.5

3.1

4.2

11-67

2.8

3.0

3.3

3.5

3.7

3.8

3.8

3.8

3.4

3.1

3.6

3.1

1 16.9
2.1

117.1
117.5
117.8

12-67

2.9

3.1

3.3

3.6

3.7

3.8

3.9

3.8

3.5

3.4

3.8

3.6

4.2

01-68

3.0

3.1

3.4

3.6

3.8

3.8

3.9

3.9

3.6

3.5

3.9

3.8

4.1

02-68

3. 1

3.2

3.5

3.7

3.8

3.9

3.9

3.9

3.7

3.6

3.9

3.9

4. 1

4.1

4.2

03-68

3.2

3.3

3.6

3.8

3.9

4.0

4. 1

4.0

3.9

3.9

4. 1

4.1

4.4

4.5

4.7

04-68

3.2

3.4

3.6

3.8

3.9

4.0

4. 1

4.1

3.9

3.9

4.1

4.1

4.3

4.4

4.5

4.6

<4 .

05-68

3.3

3.U

3.6

3.8

3.9

4.0

4. 1

4.1

3.9

3.9

4. 1

4.1

4.3

4.3

4.4

4.4

4.1

4.1

06-68

3.4

3.6

3.8

4.0

4. 1

4.2

4.2

4.2

4. 1

4.1

4.4

4.4

M. 6

4.6

4.7

4.9

»4 . 8

5.1

6.2

11-66

12-66

01-67

02-67

04-67

05-67

06-67

08-67

09-67

10-67

11-67

12-67

01-68

02-68

03-68

04-6 8

05-68

03-67

07-67

INITIAL
*

NOT

SEASONALLY

118.2
4. 1

118.6
119.0
5.2

119.5
1

119.9
120.3
120.9

MONTH

ADJUSTED
PREPARED
JULY 31,

BY F E D E R A L
1968

RE S E RVE

BANK OF

ST.

LOUIS

WHOLES ALE P R I C E S , A L L C O M M O D I T I E S *
COMPOUNDED ANNUAL R AT E S OF CHANGE
INITIAL

T ERMI NAL
MONTH
11-66

12-66

01-67

02-67

C3-67

04-6 7 05-67

06-67

07-67

1957-59

MONTH

08-67

09-67

10-67

11-67

12-67

01-68

02-68

03-68

04-68

.0
1.7

3.4

106.2

02-67

.4

.6

2.2-

03-67

.6-

.8-

2.8-

3.4-

04-67

1.4-

1.7-

3.3-

3.9-

106.0

1.1-

105.7
105.3

4.4-

105.8

05-67

.2-

.2-

.6

5.9

06-67

.7

.8

.2

.9

2.3

5.8

5.8

07-67

.9

1.0

.6

1.1

2.3

4.6

4.0

2.3

08-67

.3

.3

.2-

.2

.9

2.3

1.1

1.1-

4.4-

.8-

1 06.3
106.5
106. 1

09-67

.3

.4

.0

.3

1.0

2.1

1. 1

.4 -

1.7-

1.1

10-6 7

.2

.2

.

.1

.7

1.5

.7

.6-

1.5-

.0

11-67

.3

.3

.0

.3

.7

1.5

.8

.2 -

.8 -

12-6 7

.8

.9

.6

.9

1.4

2. 1

1.6

.9

.7

1-

106.2
1.1-

106. 1

.4

.0

1.1

2.0

2.3

4.0

106.2
7.0

106.8

01-68

1.1

1.1

.9

1.2

1.7

2.4

2.0

1.5

1.3

2.5

2.9

4.2

5.8

4.6

02-68

1.6

1.7

1.6

1.9

2.4

3.1

2.8

2.4

2.4

3.6

4.1

5.5

7.0

6.9

107.2
9.3

1 08.0

03-68

1.6

1.7

1.6

1.9

2.4

3.0

2.7

2.4

2.4

3.4

3.8

4.8

5.8

5.4

5.7

2.3

04-68

1.6

1.7

1.6

1.9

2.3

2.9

2.6

2.3

2.3

3.1

3.4

4.2

4.8

4.3

4.2

1.7

108.2
1.1

108.3

05-6 8

1.6

1.7

1.6

1.9

2.3

2.8

2.6

2.3

2.3

3.0

3.3

3.9

4.4

3.9

3.7

1.9

1.7

2.2

06-6 8

1.7

1.8

1.7

1.9

2.3

2.8

2.5

2.3

2.3

3.0

3.2

3.7

4. 1

3.6

3.4

2.0

1.9

2.2

2.2

ÎT-66

1 2-66

01-67

02-67

Û3-67

Ò4-6?

05-67

06-67

07-67

08-67

09-67

10-6t

12-67

01-68

02-68

03-68

04-68

05-68

NOT

100

105.9

12-66
01-67

*

/

05-68

SEASONALLY

11-67

108.E
108...

ADJUSTED

P - PRELIMINARY



PREPARE D BY F E D E R A L
J U L Y 3 1 , 1968

R E S E R VE

BANK OF

ST.

LOUIS

11

Prices
Ratio S c o l e

Ratio S c a l e

1957- 59=100

1957- 59=100

So u rce : U.S. D e p a rtm e n t of L a b o r
Percentages are annual rates of change between periods indicated.They are presented to aid in
comparing most recentdevelopments with past "trends.”
Latestdata plotted: June preliminary




Prepared by Federal Reserve Bank of St. Louis

12
WHOLES ALE P R I C E S -

INITIAL

T ERMI NAL
MONTH
11-66
12-66

INDUSTRIALS

01-67

12-66

02-67

03-67

04-67

05-67

06-47

07-47

C OMMODI T I ES

•

1 9 5 7 - •59

MONTH

08-47

Of-6 7

10*47

11-67

12-67

01-68

02-68

03-68

04-6 8

105.8

1.7

3.5

02-67

1.9

2,9

2.3

106.0
106.0

03-67

1.4

1.9

1.1

.0

04-67

1.1

1.4

.8

.0

.0

05-67

1.0

1,1

.6

,0

.0

.0

06-67

.8

1.0

.5

.0

.0

.0

106.0
106.0
.0

106.0

07-67

.7

.8

.4

.0

.0

.0

.0

.0

08-67

1.0

1.1

.8

.6

.7

.9

1.1

1.7

09-67

1.1

1.3

1.0

.8

.9

1.1

1.4

1.9

2.9

2.3

10-67

1.3

1.5

1.3

1.1

1.3

1.5

1.8

2.3

3.1

2.9

3.4

11-67

1.5

1.7

1.5

1.4

1.6

1.8

2.1

2.5

3.1

3.1

3.4

106.0
3,4

106.3
106.5
106.8
107.1

3.4

12-67

1.7

1.8

1.7

1.6

1.8

2.0

2.3

2.7

3.2

3.1

3.4

3.4

3.4

01-68

1.9

2.0

1.9

1.9

2.0

2.3

2.6

2.9

3.4

3.4

3.7

3.8

4.0

02-6 8

2. 1

2.3

2.2

2.2

2.4

2.6

2.9

3.3

3.8

3.8

4.1

4.3

4.6

5.1

5.7

03-68

2.2

2.3

2.3

2.3

2.5

2.7

3.0

3.3

3.7

3.7

4.0

4.1

4.3

4.6

4.5

3.4

04-68

2.2

2.3

2.3

2.3

2.4

2.6

2.9

3.2

3.5

3.6

3.7

3.8

3.9

4.0

3.8

2.8

2.2

05-68

2.0

2.1

2.0

2.0

2.1

2.3

2.5

2.7

3.0

2.9

3.0

2.9

2.8

2.7

2.2

1.1

.0

2.2-

06-68

2.0

2.1

2.0

2.0

2.1

2.3

2.4

2.6

2.9

2.8

2.9

2.8

2.7

2.6

2.2

1.4

.7

.0

2.2

11-66

12-66

01-67

02-67

03-67

04-67

05-67

06-67

07-67

08-67

09-67

10-67

1 1-67

12-67

01-68

02-68

03-68

04-68

05-68

IN ITIAL

107.4
107.8

4.6

108.3
108.6
108.8
108.6
1 0 8 . 8P

MONTH

NC T S E A S O N A L L Y A D J U S T E D
P R E L I M I N A R Y ___________________
PREPARED BY F E D E R A L
J U L Y 3 1 , 196 8
WHOLESALE P R I C E S - FARM P R O D U C T S , A N D P R OC E S S E D FOODS AND F E E D S
•
_______ ______________COMPOUNDED ANNUAL R A T E S OF CHANGE ______________________

TERMI NAL

INITIAL
11-66

12-66
01-67

12-66

01-67

02-67

03-67

04-67

C5-67

06-67

07-67

R ES ERVE

BANK OF

MONTH

08-67

ST.

1957-59

09-67

10-67

11-67

12-67

01-68

02-68

03-68

0H-68

.6-

13.6-

03-67

6 . 8 -

7.6—

12.7-

11.8-

04-67

8 . 1-

9.0-

12.8-

12.4-

05-67

3.9-

3.8-

5.5-

06-67

.5-

07-67

.3

08-67

105.7
104.6
12.9-

103.4

2.3

O
CM

3.2

8.7

21.4

22.6

1.0

.6

3.7

8.0

16.0

13.9

2.4-

2 .1-

2.9-

.9-

1.4

5.3

.8

8.7-

21

09-67

2.0-

1.7-

2.4-

.6-

1.3

4.5

.9

5.5-

10 7 -

1.1

10-67

3 . 1-

2.9-

3.6-

2.3-

.8-

1.4

2.0-

7.4-

11 4 -

6.1-

11-67

3.5-

3.4-

*1. 0-

2.9-

1.7-

.0

3.0-

7.5-

10 5 -

6.7-■ 10.4-

7 8-

12-67

2.0-

1.8-

2.2-

1.0-

.3

2.0

.3-

3.7-

5 5-

1.1-

1.9-

4

01-68

1.4-

1.2-

1.6-

.4-

.8

2.5

.4

2.4-

3 7-

.2

02-68

.2 -

.1

.2 -

1.0

2.3

4.0

2.3

.0

8-

03-68

.

1-

.2

.1-

1.1

2.2

3.7

2.2

.1

04-68

.2 -

•

1-

.9

1.9

3.3

1.9

.0

05-68

.5

.8

.6

1.7

2.7

4.0

2.8

06-68

.5

.8

.7

1.6

2.6

3.8

11-66

12 - 6 6

01-67

02-67

03-67

04-67

.

CM

2.6-

.4-

NOT S E A S O N A L L Y
PRELIMINARY

100

107.0

5.5-

1

/

106.7

3.4

.2

LOUIS

05-68

4 . 4 - ________________________________ _______________________________________

5.1-

*
P-

100

105.8

.0

01-67

•
P-

/

05-68

105.0
106.8
5.8

107.3
1-

1 05.2
105.3
12.9-

104.1
103.4

1

17.5

.0

4 7

11.6

5.9

3.1

3.5

8 0

13.8

12.0

18.5

6-

2.8

3.1

6 6

10.5

8.3

9.5

6-

2.3

2.5

5 3

8.1

5.8

5.8

.0

1.1

7

3.4

3.7

6 3

8.9

7.3

7.6

4.2

5.7

13.1

2.6

1.1

7

3.2

3.4

5 7

7.8

6.2

6.3

3.4

4.2

6.9

1.1

05-67

0 6 -6 7

0 7 -4 7

l0 8 - 6 7

0 # -4 7

1 0-* 7

11-67

1 2 -4 7

o i —¿a u r - 6 r 0 3 - 6 8

ÙU-48

05-6 8

104.8
105.3
106.8
106.9

i . i

1.1-

106.8
107.9
1 0 8 . OP

ADJUSTED'




iy
JULY

31,

to ik a l

1968

R cm ve

bank

a?

a .

louis

13

General Price Index *

Ratio Seal*

Ratio Seal*

1958=100

1958=100

* Asused in Notional In c M N Accounts

Source: U.S. Deportment of Commerce

Percentages are annual rates of change bet ween peri ods i ndi cat ed. T hey ar e presented to aid in
>mparing most r ecentdevel opments with past "t r ends. ”

•stdata plotted: 2nd quar t er
Prepared by FederalReserveBa»fcof St. Louis

IM PLICIT

P R I C E O E F L A f d R T F O R GROSS N A T I O N A L
C0 MP 0U N0 E 0 ANNUAL R A T E S OF CHANGE

T E RMINAL
WUAk I t IT

INITIAL
03-63

04-63

01-64

02-64

C3-64

04-64

C 1-65

02-65

03-65

PR00UCT

1958

QUA R T E R

04-65

01-66

02-66

03-66

04-66

01-67

02-67

03-67

/

100

04-6 7 01-68
107.8

04-63

2.3

01-64

1.9

1.5

02-64

1.6

1.3

108.2
108.5

1.1

____1 0 9 . 1

03-64

1.8

1.6

1.7

04-64

1.8

1.7

1.7

2 •C

1.9

01-65

1.9

1.8

1.9

2.1

2.0

2.2

02-65

1.9

1.8

1.9

2.0

2 .G

2.0

1.8

03-65

1.8

1.7

1.7

1.8

1.7

1.7

1.5

04-65

1.8

1.7

1.7

1.8

1.8

1.7

1.6

1.5

1.8

01-66

1.9

1.8

1.9

2.0

2.0

2.0

1.9

1.9

2.4

2.9

02-66

2.0

2.0

2.1

2.2

2.2

2.2

2.3

2.4

2.8

3.3

2.2

_____1 0 9 . 6
110.2
110.7
111.0

1.1

111.5
112.3
113.3

3.6

03-66

2.1

2.1

2.2

2.3

2.3

2.4

2.4

2.5

2.9

3.3

3.4

JU2

04-66

2.2

2.2

2.3

2.«*

2.5

2.5

2.6

2.7

3.0

3.3

3.5

3.4

3.5

01-67

2.3

2.3

2.4

2.5

2.5

2.6

2.6

2.7

3.0

3.2

3.3

3.2

3.2

2.8

02-67

2.3

2.3

2.3

2.1*

2.5

2.5

2.5

2.6

2.9

3.0

3.1

2.9

2.8

2.5

1 14.2
_____1 1 5 . 2
116.0
2.1

116.6

03-67

2.4

2.4

2 . *i

2.5

2.6

2.6

2.7

2.8

3.0

3.1

3.2

3.1

3.1

2.9

3.0

3.8

04-67

2.5

2.5

2.6

2.7

2.7

2.8

2.8

2.9

3.1

3.3

3.3

3.3

3.3

3.2

3.4

4.0

117.7
4.1

118.9

1-68

2.5

2.6

2.6

2.7

2.8

2.8

2.9

3.0

3.2

3.3

3.4

3.3

3.4

3.3

3.5

3.9

3.9

3.8

02-68

2.6

2.6

2.7

2.8

2.8

2.9

3.0

3.1

3.3

3.4

3.5

3.4

3.5

3.4

3.6

3.9

4.0

3.9

03-63

04-63

01-64

0 4 - 6 Q 0 1 ^ 5 5 ~02=^55 0 3 - 6 5

04-65

02- 61» € 3 - 6 4

0 1-<55~02-66 0 3 - 6 6

120.0
4.1

121.2

04-6 6 0 T - 6 T U 7 - 6 7 " 0 3 - 6 T (J4 -6 T 'D T -6 8

------------------------------------------------------------------------------------n^rnAL ouwnfc*--------------------------------------------------------------------------------------------- *'



T T I E P T O T D - B T F E Ö E 1 T ÄL ~ R F S E R VE B A N IT OF
A U GU S T 1 6 , 1 9 6 8

ST.

LOUR