Full text of National Economic Trends : August 1980
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nHTionAL economic t r m d s P R E P A R E D M o n th E n d in g : Ju ly R e v is e d a n n u a l ra te e x c e e d e d b y y e a rs . q u a rte r r e a l w h ic h o f 1 97 4 o u tp u t In v e n t o r y q u a rte r Ju ly , e a r lie r r a te . Ju ly fro m S im ila r ly , a fte r p r o d u c tio n , im p lic it p r ic e M a y to o f Ju ly , th is fro m to a to fiv e fo o d s m o n th s c o m p o n e n t M a y o f to th is Ju ly , y e a r . th e a ft e r h a s 1 0 .6 th e 8 .9 f in is h e d th e 11 a t a to c o n s u m e r a t a p r ic e 5 th e s e c o n d in v e n t o r y lit t le p e rc e n t to f e ll in d e x p e rc e n t a in 7 th e to Ju ly , Ju ly . r e c e n tly . th e th e 1 5 .9 s lo w e d to ro s e r a te in to In d u s t r ia l th a t ra te a to fo u r fo llo w in g a b a tin g m o rtg a g e G N P fir s t p r io r to fo u r p e rc e n t r a te fro m Ja n u a r y a p e rc e n t 5 .8 in te r e s t ra te s , M a y . th e p ro d u c e r a t a n d re c o rd e d h o w e v e r, r a te , Ju n e a t M a y M a y M a y . fro m ro s e r e f le c t fro m to r a te r a te fro m M a y , th e p e rc e n t U n e m p lo y m e n t in d ic a te p e rc e n t 1 7 .3 M a y o f p r e v io u s in o f fro m s o m e r a te a s s ig n Ja n u a r y th e in 1 98 0 in p lu m m e tin g a th e fo r c e r a p id ly o f a t m o n th s . Ja n u a r y g o o d s p e rc e n t p r ic e s in fro m in Ju ly la b o r d e c lin e fro m Ju ly , 3 0 .5 th e s e r is in g a b e g in n in g M a y o f in v e n to r y . m a jo r p e rc e n t in p e rc e n t p r ic e s , r a te S in c e d e c lin e e x a m p le , fe ll ra te fo u r fro m s h o w n a 12 s a m e q u a rte r a t o v e r fo u rth r a te . o f o ffs e ttin g s a le s p r io r d e c lin e F o r ra te , a c iv ilia n r e f le c tin g a re a t th e to p r ic e s ) in th e p a re r e s p it e p e rc e n t th e th e fo r p e rc e n t ro s e in C o n s u m e r F ro m w h e n o f p r ic e s p r ic e s e c o n o m y . c o n s u m e r w a s th a n Ju ly , 1 4 .6 F o o d th e a to w a s in v e n t o r y in r a te a p e rc e n t d e c lin e p e rc e n t th a t b r ie f w h e n p o in ts fo llo w in g y e a r. M a y c o m p a re d o n fa s te r M a y 4 .7 ro s e 7 p e rc e n t s u m m e r. p e rc e n t ro s e ra te a th is o n ly s e c o n d d e fla to r P ro d u c e r M a y to c o n tin u e d a 9 9 1980 q u a rte r. th a t 2 2 .2 o f a t (1 9 7 2 in c o m e p e rc e n t th e q u a rte r, q u a rte rs . a d e c re a s e in f la t io n fo r la r g e s t a a 29, d e c lin e le s s o c c u rre d u n lik e ly th ir d a t T h is d e c lin e fe ll L O U I S A u g u s t r a te — th e b illio n it e a r ly p e rc e n ta g e h o w e v e r, T h e r a te 7 .8 1 .6 d a ta to o f ST. (G N P $ 3 .3 sh o w Ja n u a r y a t s a le s q u a rte r th e a t 1 9 8 0 . su b s e q u e n t o n ly d u r in g g re w fin a l s a le s m a k in g e m p lo y m e n t ra te R e v is e d fro m w a s O F d e c lin e d o f s u b s ta n tia lly , th e p e rs o n a l C iv ilia n a ro u n d fin a l a s in in c r e a s in g r is in g se c o n d r e a l G N P q u a rte r o n e - q u a rte r o c c u rre d d e c lin e p e rc e n t a in d ic a to r s s a le s h o v e re d p e rc e n t y e a r, r e t a il a ft e r 2 .5 9 .8 a t p r io r d e c lin e a c t iv it y m o n th s . a r e a l w ill o c c u r S o m e e c o n o m ic to in in v e s tm e n t a d ju s tm e n t r e a l d e c lin e f e ll th is th a t se c o n d o c c u rre d o f B A N K R e le a s e d : in d ic a te w h e n n o t R E S E R V E th e la r g e s t d id F E D E R A L 1980 d a ta th e T h e p r o d u c tio n 31, d u r in g in v e s tm e n t), 35 B Y im p a c t p r ic e s h a rp fro m a th e d ro u g h t fo r fin is h e d c o n tra s t p e rc e n t a t o f in d e x 9 to r a te . p e rc e n t D e c e m b e r th e T h e r a te 1 9 7 9 to p r io r fo o d fro m M a y TOIAL C I V IL I A N TERMINAL MONTH -12-7tt EMPLOYHEN1 IHUUSANUS U<- PtKSUNS ■L.-79— 2=22___j - 7 ? __ ________ S-79 fe-7*__ 7 r 7 V___a-7V 9-79 10-79 11-79 12-79 1-80 2-8 0 3-80__ <t=£ii__ 5,rttU__ fr-tfO _L=IS_ ___ 4 . 2 V6tl*7 4 *2 Y6.4V6 -2=28- 12-78 1-79 2-79 3-79 4-79 5-79 6-7V 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 6-80 INITIAL MONTH PAYROLL EMPLOYMENT -------------- ---- ------------------------------------ COMPOUNDED ANNUAL RATES OF CHAHSE ■ TEtHIMAl _____________________________________________________________________ I N I T I A L M O N T H ________________ ________________ _ ______ PR E P A R E O BY F ED ER A L R E S E R V E AUGUST 1» 1980 2 ____ T H O U S A N D S 8ANK OF S I . L O U IS E MPL OY ME NT RATIO MILLIONS 1 10 RATIO SCALE OF SEASON ALLY PERSONS 1 * ? ADJUSTED SCALE MILLIONS OF PERSONS 1 10 I * \ * ?! I % 1 $ § * 1 * $ 105 + t çy 100 V TOTAL - 95 ' ” -2. JZ -----4^89.7 s' 90 95 +2. IZ y »0. 93! 90 -3.8Z * J. ;?z 85 100 f J" Lf 85 3Z >/. 4Z 80 80 +4. i j : 75 C¿ 75 s p a y !R O L L 70 70 $ 5 ? 65 t y t § t 1972 1973 * ♦ 1974 1975 t 1976 1977 1978 SO URCE* P E R C E N T A G E S ARE LA TEST ANNUAL DATA P LO T T E D t RATES JU L Y OF CHANGE FOR P E R IO D S > » t < t t 1979 65 1980 U .S .D E P A R T M E N T OF LABO R IN D IC A T E D . P R E L IM IN A R Y PR EPA R ED BY FED ERAL RESERVE BANK OF S T . L O U IS UNE MPL OY MENT R A T E SEASONALLY PERCENT ADJUSTED PERCENT 9. 9.0 8. 8.0 .0 6. 6 .0 5. 5.0 1.0 \. i.O .0 1972 1973 1974 1975 1976 1977 1978 SO U R C E: P E R C EN T LA TEST OF C I V I L I A N DATA P L O T T E D ; LABOR U .S . 1979 DEPARTM EN T 1980 OF LABO R FO RCE JU L Y PREPARED BY FED ER A L R ES ER V E BANK OF S T . L O U IS CONSUMER P R IC E INDEX# SfcASONALLV A O JUSTEP » COMPOUNDED ANNUAL RATES OF CHANGE TERM INAL INITIAL MONTH 1967*100 ¿ 0 7 .1 2 0 V .9 2 1 2 .0 ¿ 1 4 .1 2 16 . 4 _ ¿ 1 8 .7 220. V 2 2 3 .4 ~ 2 2 5 .6 ¿ 2 7 .9 2 3 0 .7 “ 2 3 4 .0 2 3 7 .2 2 4 0 .5 2 4 2 .8 2 4 4 .9 “ 2 4 7 .1 2 4 7 .2 ___________ 1 2 — 7 6 1— T 9 2-79 3-79 4-79 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-60 4-80 5-80 6-60 ____________________________________________________________________________________ I N I T I A L M O N T H ______________________________________________________________________ *CPI-W FOR URBAN WAGE EARNERS AND CLERICAL WORKERS PREPARED BY FEQSRAL A UGUST 22, 1980 PR O OUCER PRICE INOEX, FINI S H E O GOOOS - SEASON A L L Y COMPOUNDED ANNUAL RATES OF CHANGE RESERVE BANK OF ST. ADJUSTED 1967 * 100 INITIAL MONTH TERNINAL NONTH 2-76 1-79 2-79 3-79 4-79 5-79 6-79 7-79 6-79 9-79 10-79 LOUIS 11-79 12-79 1-60 2-60 3-60 4-60 5-60 6-60 205.2 207.4 209.4 12.9 _i!L*y 4-79 13.0 12.0 11.2 10.2 5—79 11.5 10.4 9.4 6.0 2 1 2 .1 213.4 7.9 6.7 7.6 7-79 11.4 10.7 10.1 9.6 9.4 11.2 15.0^ •-79 11.6 11.2 10.6 10.5 10.6 12.2 14.6 14.2^ 9-79 12.6 12.1 11.9 11.9 12.2 13.9 16.1 16.6 10-79 12.7 12.3 12.2 12.2 12.5 13.9 15.5 15.7 16.4 1 3 . 6 \ 2 2 3 .9 11-79 12.9 12.6 12.5 12.6 12.9 14.1 15.5 15.6 16.1 14.6 15.5s 226.6 4^6^ 4^6V ¿ - T 9 ____ A46V 1-60 4-60 13.4 13.2 13.7 I3t> 14.0 13.9 13.4 13.3 13.1 2 1 5 .9 218.3 221.5 1 9 . 1 ^ 3 . 1 % 4^6 9 IV»? 228.5 \ 232.2 13.2 13.5 14.5 15.6 15.7 16.0 15.2 15.7 15.8 2 K 3 \ _J3.7 I4#0 15.0 15.9 16.1 16.4 15.6 16.4 16.7 19.8 l ( W 5 \ 235.5 13.9 14.0 14.4 15.3 16.2 16.3 16.6 16.2 16.7 17.0 19.3 18.3 18.2 238.8_ 13.2 13.3 13.6 14.3 15.0 15.0 15.1 14.6 14.7 14.6 15.6 1 3 .7 11.5 5-60 12.6 12.6 12.5 12.6 12.7 13.3 13.9 13.6 13.7 13.1 13.0 12.6 13.0 11.0 8.6 6-60 12.6 12.4 12.4 12.4 12.5 13.1 13.5 13.4 13.3 12.7 12.6 12.2 12.4 10.6 8.9 7 -6 0 1 3 .1 1 3 .0 1 2 .9 1 3 .0 1 3 .2 1 3 .7 1 4 .2 1 4 .1 1 4 .1 1 3 .6 1 3 .8 1 2 .6 1 1 .5 12-76 1-79 2—79 3 -7 9 4 -7 9 5^79 6^79 7^79 8^79 9-79 10-79 11-79 12-79 1-80 2-80 IN IT IA L 1 3 .6 1 3 .4 5.1 2 3 9 .6 240.4 4.1 2 4 2 .3 3-60 4 -8 0 1 5 .9 2 2 .3 s 5-80 6-80 2 4 6 .4 NONTH F r F P A R W 6V FED ERA L R ES E R V E BANK OF S T . AUGUST 1 6 , I9 6 0 4 L O U IS RATIO P R IC E S SCALE 1967-100 SEASO N A LLY RATIO A D JU S TE D SCALE 1967-100 IL C P I-U FOR ALL URBAN CONSUMERS Q .C PI-V FOR URBAN WAGE EARNERS AN0 C L E R IC A L WORKERS PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIO DS LATEST DATA PLOTTEDt IND ICATED. JU LY PREPARED BY FEDERAL RESERVE BANK OF S T. LOU IS r a tio P RODUCE R sca le 1967-100 SE A S O N A LLY PRICES A D JU ST E D PERCENTACES ARE ANNUAL RATES OF CHANGE FOR PERIO DS LATEST DATA PLO TTED. 1967-100 INDICATED JU LY IS 5 PROOUCER P R IC E J SRN1NAL _ 12-78 ________________ 1-79 2-79 3-79 __________ 4-79 5-79 IN D EX » F IN IS H E O CONSUHER FOOOS - SEASON ALLY A D JU ST ED CONFOUNDED ANNUAL R ATES OF CHANGE _____________ I N I T I A L N O N T H 6-79 7-79 1-79 19.2 2-79 19.0 18.9 — 3-79 18.0 17.5 16.1 4-79 11.9 9.6 5.2 -1-79 6#7 3.9 -0.7 -8.2 -11.6 -4-19 3.5 0.7 -3.4 -9.2 -11.4 -11.2 7-79 4.2 1.9 -1.2 -5.1 -5.2 -1.9 8.4 -1-79 6*1 4.3 2.1 -0.5 0.5 4.9 14.0 19.9 — 8-79 9-79 10-79 1967 11-79 12-79 1-80 2-80 3-80 4-80 5-80 « IO O 6-80 220.7 223.9 226.7 -4.7 225.8 223.5 221.3 222.8 226.2 79 7*3 5.9 4.2 2.3 3.8 8.0 15.3 18.8 17.7 10-79 6.4 5.1 3.5 1.8 2.9 6.1 11.0 11.8 7.9 — 1.0 11-79 8.1 7.0 5.8 4.5 5.9 9.1 13.7 15.1 13.5 11.5 25.6 12-79 7*6 6.6 5.5 4.4 5.6 8.3 11.9 12.6 10.8 8.6 13.8 1-80 6*1 5.1 4.0 2.8 3.7 5*8 8.4 8.4 6.3 3.6 5.2 -3.8 -10.2 5.3 4.3 3.2 2.1 2.8 4.5 6.6 6.4 4.3 1.8 2.5 -4.2 -7.7 -5.1 4.9 3.9 3.0 3.7 5.3 7.4 7.2 5.5 3.6 4.6 -0.1 -1.2 3.7 229.3 229.1 233.5 3.1 3-eo 5.8 4-80 3.2 2.2 1.1 0.0 0.4 1.6 3.0 2.4 0.4 -1.9 -2.0 —6.7 5-80 3*1 2.2 1.1 0.2 0.5 1.6 2.9 2.3 0.5 -1.4 -1.5 -5.4 6-80 3*4 2.5 1.6 0.7 1.1 2.1 3.3 2.9 1.3 -0.3 -0.3 -3.5 7-80 5.7 5.0 4.2 3.5 4.1 5.3 6.7 6.6 5.4 4.3 4.9 12-78 i-t* 2-79 3-79 4-79 5-79 6-79 7-79 8-79 9-79 10-79 234.1 232.0 231.0 13.2 233.4 -9.1 -8.7 -10.4 -29.1 226.8 -7*0 -6.2 -6.6 -15.1 1.6 -4.6 -3.4 -3.0 -7.8 5.1 8.8 2.5 2.4 4.7 6.8 5.2 20.0 30.5 56.5 11-79 12— 79 1-80 2-80 3-80 4-80 5-80 6-80 227.1 _ 228.7 237.4 INITIAL NONTH PROOUCER PRICE INOEX, FINISHED GOODS» EXCLUOING FOOOS ____________________ C O H P O U N O E O A N N U A L R A T E S O F C H A N G E 1967 * 100 INITIAL NONTH S g W IW A L NONTH ti-U SEASONALLY AOJUSTED l-T9~ 2-T ? ~ 3-79 4 - 7 » " ^ *» ¿-79 7-79 6-79 9-79 16-7» 11-7» 12-79 1-86 ¿-86 3-86 4-80 5-80 6- 8 6 ItliVlAL N O N T H H § F A A K > BY F £ i* R A L f e t ^ R V i AUGUST 18» 1980 6 BAN* OF S T . L O U IS INDUSTRIAL RATIO PRODUCTION RATIO SCALE SEASONALLY 1967-100 SCALE 1967-100 160 ADJUSTED 155 150 145 140 135 130 125 120 1 15 1 10 105 100 1 972 1 97 3 1 97 4 p e rc e n ta g e s a re an nu al r a t e s LATEST DATA PLOTTED: 1 97 5 1976 o f change f o r P ER IO D S 19 77 1978 1979 1 98 0 IND ICATED. JU L Y PR ELIM IN A R Y PREPARED BY FEDERAL R ESER V E BANK OF ST . LO U IS INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RATES Of CHANGE 1967 « 100 INITIAL MONTH 12— 7 8 I- T 9 2-79 3-79 4-79 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-7» 1-80 2-BO 3-60 4-80 5-60 6-60 151*5 152 »0 153+0 150.8 152.4 152.6 152.8 151.6 8-79 9-79 0.5 10-79 152.4 0.9 0*5 -0*8 2 »6 0.0 -0.5 -1.6 6.5 0.6 0.2 —0.9 1.9 -0.3 -0.8 -1.6 2 >4 -1.6 152.2 152.1_ 11-79 0 *2 0.5 0*1 —0.9 1.5 -0*4 -0.8 -1.4 1*3 -1*2 -0*6 12-79 0.3 0.5 0+2 -0.7 1 »4 «0.2 -0*5 -0.9 1.2 -0.5 0.0 0*6 152.2 0.7 0.4 -0.3 1.6 0.2 0.0 -0.3 1.6 0.4 1 .1 2 .0 152.6 1-80 2-80 0.3 0.5 0.2 -0.5 1.2 -0.1 -0.3 -0.6 0.9 -0.2 0.2 0.5 0.4 -2.3 3-80 -0.1 0.1 -0.2 -0.8 0.7 «0.6 -0.8 -1.1 0.1 -0.9 -0.8 -0.8 -1.3 -3.5 -8.0 -7.7 152.3 ~17.3% -4. 148.2 4-80 - 1 .8 -1.7 -2.1 -2.9 -1.7 -3.0 -3.4 -4.0 -3.3 -4.7 -5.2 5-80 -3.5 -3.6 -4.1 -4.9 -4.0 -5.3 -3.9 -6.6 -6.4 -7.9 -8.7 -10.0 -12.0 -15.4 -19.4 -25.9 -27.4 6-80 -4.8 -4.9 -5.5 -8.3 -5.6 -6.9 -7.6 -8.4 -8.3 -9.8 7-80 - 5 .5 - 5 .7 - 6 .2 - 7 .0 - 6 .4 - 7 .7 - 8 .4 - 9 .2 - 9 .2 - 1 0 .6 - 1 1 .6 - 1 2 .8 - 1 4 .6 12-78 1-7» 2-79 3-7» 4 -7 9 5- T » ~ ¿ - T 9 7-79 ft-7 » ~ 9 - 7 » 10-79 11-78 12-79 -10.6 -12.2 -14.2 -11.0 -15.1 151.7 -24.4 144.3 -20.6 -25.4 -25.8 -24.2 141.0P - 1 7 .3 - 2 0 .0 - 2 3 .4 - 2 3 .1 - 2 0 .8 - 1 7 .2 1 3 8 .8 P -17.3 1-80 2-80 5-80 4 -8 0 ~ 6-6 0 ---------------------------------------------------------------- w i m n s R T H -------------------------------------------------------------~ F*ELIM IN A ftV P R E P A R E S Ï Y T E Ü E 1 W L H E SERV E &ANK OF S T . AUGUST 18» 1980 L O U IS PERSONAL RATIO SCALE TRILLIO N S OF percent a m s INCOME MONTHLY TOTALS AT ANNUAL RATES a m DOLLARS annual m u s SEASONALLY ADJUSTEO * cnahm f* r t * i* $ RATIO TRILLIONS Of SCALE DOLLARS iiw ic a t e ». LATEST »ATA f L IT T E » t J H Y PRELIMINARY PREPAREO BY FEDERAL RESERVE BANK OF S . LOUIS PERSONAL CWIWÎÜNÔÈD "Te r m i n a l — MONTH ----------- 1 2 — 78~" 1 - 7 9 INCOME *ATÉ5 Ö* CHANCE ANNUAL fMlfiAL MONTH 2-79 3-79 4-79 5-79 6-t9 7-f9 8-79 9"— 7 9 10— 7 9 lT-79 15-79 Ï-80 2-66 i-eo 4-80 *-86 6-80 BILLIONS OF OOLLARS ANNUAL RATES 1-79 1 » # Î4 * Ï 2-79 ••4 1,851.4 11*8 3-79 10*3 13.0 14.3 1*872.1 4-79 9.1 1075 9^9 f*880.7 "5=79" 8*7 9.7 9.0 6.4 6—79 8 .8 9.5 9.0 T z y 7—79 1 Ö 7 F " T Ï7 T 10^9” ÏÔ.I T t 891.6 IT T 8.0 8.9 Ü .6 IÌ.9 r,90'5.1 I *933.2 19.2 8-79 1 0 *0 10.7 10.5 9.8 10.912.1 1 3 . 8 8 . 6 9 -7 9 9 .8 1 0 .5 1 0 .3 9 .6 1 0 .4 1 1 .* Ì2 .1 8 .6 1 0 .8 t0 .7 1 1 .0 1 1 .7 1 2 .$ io . i 1 0 -7 9 1 0 .2 1 0 .2 1*946.5 1 * 9 6 6 .1 8 .7 1 1 .2 1 * 9 6 1 .2 I3 .T “ \ 2 * 6 6 5 .5 1 1 -7 9 1 0 .7 1 1 .3 1 1 .2 1 0 .9 1 1 .6 1 2 .4 1 3 .1 1 1 .6 1 2 .7 1 4 .7 1 5 .8 1 2 -7 9 1 1 .0 1 1 .6 1 1 .6 1 1 .3 1 2 .0 1 2 .7 1 3 .4 1 2 .2 1 3 .1 1 4 .7 1 5 .1 Ì 4 .5 1---------- 1 1 1 .6 f iw i| 1 1 .5 U . i 1 1 .9 1 2 .5 1 3 .1 1 2 .1 1 2 .6 ii.6 1 3 .9 1 2 .9 1 -8 0 2 -0 0 1 0 .6 1 1 .1 1 1 .0 1 0 .7 1 1 .3 1 1 .7 1 2 .1 1 1 .1 1 1 .5 1 2 .1 1 1 .7 1 0 .4 3 -0 0 1 0 .5 1 0 .9 1 0 .9 1 0 .6 1 1 .0 1 1 .4 1 1 .7 Ì0 .8 n . f it . * il« l 1 6 .6 io . 2 io . i 9 .8 1 6 .i 1 0 .4 1 0 .6 9 .7 »•6 4 -8 6 5 -0 0 9 .8 9 .7 ♦ .4 9 .5 9 .2 6 -6 0 9 .4 9 .6 7 -è o 9 .6 1 Ò .6 1 2 -7 8 1 -7 9 2 -7 9 3 -7 9 4 .7 * .* » .1 ♦ .1 9 .9 - ~ 9 . r 6*1 2 * 0 2 8 .3 i t 8 .4 T 2 * 6 4 6 .5 .t ^ . r 4 .5 9 .2 6 .5 7 .4 6 .0 "T V S 2 * 0 5 5 .7 5 .5 s 2 * 0 7 6 .0 7 .1 8 .7 5 .0 4 .7 0 .9 " 4 .7 ~ ~ 4 .4 2 .4 2 * 6 7 1 .$ ' I T . t ' s 2 * 6 7 8 .1 . 9 .4 9 .6 9 .7 6 .6 é .* “5 . 5 4 .1 ~ r.T “ 4 .^ 3 .7 5 .2 6 .^ 1 0 .0 1 0 .2 1 0 .3 9 .* 9 .6 9 .7 ^ .5 ft. 5 7 .7 1 u1 1 T *l l 7 .4 7 .1 9 .7 12*^ IT. 4 -7 9 5 -7 9 6 -7 9 7 -7 9 8 -7 9 9 -7 9 1 0 -7 9 1 1 -7 9 1 2 -7 9 2-80 3-80 4-80 5-80 6-80 7 .r 1-80 2 *08».0 2 » 1 1 7 .6 P INITIAL MONTH P- PRELIMINARY PR E P A R E D 6Y FE O E R A L R E S E R V E BANK OF S T . AUfrJST 1 6, 1455 8 L O U IS R E T A I L SALES RATIO SCALE B I L L I ONS 1972 RATIO OF DOLLARS 1 97 3 SEASONALLY 1 974 1 97 5 BILLIONS ADJUSTED 1 976 1 977 SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR P ER IO D S LATEST DATA PLOTTED: JU N E , 1 97 8 U .S . OF 1 97 9 SCALE DOLLARS 1 980 DEPARTMENT OF COMMERCE IND ICATED. JU L Y ADVANCE ESTIM ATE PREPARED BY FEDERAL R ESER V E BANK OF S ' . COMPOUNDED RETAIL ANNUAL LO U IS SALES RATES OF CHANGE MILLIONS INITIAL MONTH TERHINAL - M O N T H ----12-78 1-79 2-79 3-79 4-79 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 OF 6-80 7 1 ,2 9 3 7 1 ,2 6 6 7 2 ,0 4 5 3 .3 5-79 1 .8 5 .0 3 .6 2 .9 - 7 .1 5 *9 2 .1 1 2 .1 0 .3 4 .2 2 .7 7 1 ,6 0 6 7-79 7 2 ,2 9 2 - 3 .3 7 2 ,0 9 3 .8.6% 7 .1 1 8 .5 8-79 8 .7 8 .8 1 0 .4 9 .7 1 4 .3 1 5 .1 2 5 .5 7 3 ,1 2 1 7 4 ,8 7 1 3 2 .8 7 6 ,6 6 6 9-79 1 1 .1 1 1 .5 1 3 .3 1 3 .2 1 7 .8 1 9 .3 2 7 .9 3 2 .9 10-79 8.1 8.1 9 .2 8.6 1 1 .4 1 1 .3 1 5 .2 1 4 .2 7 5 ,5 8 3 11-79 8 .6 8 .7 9 .8 9 .2 1 1 .8 1 1 .7 1 5 .0 1 4 .2 7 6 ,4 2 1 12-79 8 .9 9 .0 1 0 .0 9 .6 1 1 .8 1 1 .8 1 4 .5 1 3 .7 7 7 ,1 5 0 1-80 1 1 .2 1 1 .5 1 2 .6 1 2 .5 1 4 .9 1 5 .2 1 8 .2 1 8 .1 8 .6 9 .4 6 .3 6 .8 6 .2 4 .2 4 .5 3 .6 2-80 4-80 4 .4 1 0 .8 4 .8 3 2 .9 1 5 .4 1 0 .7 2 2 .2 2 6 .4 4 2 .6 1► 2 .5 4 .2 1 1 .7 9 .9 1 1 .4 6 .5 6 .7 7 9 ,4 6 4 - 2 0 .l ì 7 7 ,9 9 3 7 .1 8 .3 7 .1 3 .8 - 0 .3 3 .0 0 .4 - 3 .2 - 2 0 .2 - 2 0 .3 4 .1 4 .9 3 .5 0 .3 - 3 .7 - 1 .5 - 4 .4 - 8 .1 - 2 0 .6 - 2 0 .9 - 2 1 .4 7 6 ,5 3 4 7 5 ,0 1 1 7 4 ,5 8 7 5-80 3 .7 3 .4 3 .7 3 .0 3 .8 3 .2 3 .8 2 .4 - 0 .5 - 4 .0 - 2 .2 - 4 .7 - 7 .8 - 1 7 .3 - 1 6 .4 - 1 4 .3 —6 . 6 6-80 4 .4 4 .2 4 .5 3 .9 4 .8 4 .2 4 .9 3 .7 1 .2 - 1 .8 0 .0 - 1 .8 - 4 .0 - 1 1 .3 - 8 .9 - 4 .8 4 .8 1 7 .6 7-80 5 .5 5 .4 5 .7 5 .2 5 .7 6 .4 5 .5 3 .3 0 .7 2 .7 1 .4 —0 . 1 - 5 .8 - 2 .7 2 .3 1 1 .8 2 2 .2 2 7 .0 5 r7 9 6-79 1= 79 X2-79 1-80 2-80 3-80 4-80 5-80 6-80 1 2 - 7 8 ___ 1 - 7 9 ___ 2 - 7 9 ___ 3 .- 7 9 ___ ± = 2 S _ 1-79— 8.-JZ9 9-79 ----------------------------------------- IN IT IA I P - IQ - 7 7 5 ,602H 7 7 ,125t MONTH P tt C iIM IN A R Y E - E STIM A TED PREPA RED BY FE D E R A L R ES E R V E AUGUST 1 2 , 1 9 8 0 9 BANK OF S T . L O U IS HOURLY COMPENSATION» P R IV A T E B U S IN E S S SECTOR COMPOUNDED ANNUAL R A T ES OP CHANGE t e r m in a i 1967 * ____________________I N I T I A L Q U A R T E R QUARTER 100 OUTPUT PER HOUR OP A L L PERSONS* PRIVATE BUSINESS SECTOR _______________ C O M P O U N D E D A N N U A L R A T E S O F C H A N G E TERMINAL QUARTER 1967 INITIAL QUARTER 3-73 4-75 1-76 2-76 3-76 4-76 1-77 2-7 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 * 100 1-BO 113*9 117*0 117*4 118*7 l- r r > ^ 1 4 % 118*0 rl.5% 1 1 7 *8 3-79 0*7 0*» 0*4 0*4 0*2 0*1 -0*3 -0*1 -0*8 -0*6 -0*4 -0*9 -1*6 -2*2 -1*8 -1*7 4-79 0*6 0*8 0*4 0*3 0*2 0*1 -0*3 «0*1 -0*7 -0*5 -0*4 -0*8 -1*3 -1*8 -1*3 -1*0 -0*3 1-BO 0*6 0*8 0*4 0*3 0*2 0*1 -0*3 «0*1 -0*6 -0*3 -0*3 «0*7 -1*1 -1*4 -1*0 -0*7 -0*2 2-BO 0 *3 0 *6 0 *2 0 *2 0 *0 -0*1 -0*4 -0*3 - 0 *8 - 0 *6 - 0 *5 -0*8 - 1 *2 >1*5 -1*2 -1*0 -0*8 -1.0 -2*0) 4 -?* 1-76 Ì —1 6 3—76 4 -7 6 1 - tf ¿- T t 4-7* 1-78 2-78 3 - tB 4-781-79 2-79 I * 7*7 117.7 0 *0 ^ - 7 9 ~ 4 -7 9 117.1 1-80 I N I T I A L QUARTER PREPA REO BY FED E R A L R E S E R V E BANK OF S T . L O U IS AUGUST 27* 1980 10 PR O D U C TIVITY, RAT I 0 COM PENSATION, AND LABOR SCALE 1967-100 SCALE 1967-100 SEASONALLY ADJUSTED SOURCE: P E R C E N T A G E S ARE ANNUAL R A TE S OF CHANGE FOR PE R IO D S LATEST COSTS RAT I 0 DATA PL O T T E D : U S. DEPARTMENT OF LABO R IN D IC A T E D . 2ND OUARTER PREPAREO BY FE O E R AL R E SE R VE BANK OF S . L O U IS UNIT LABOR COSTS» PRIVATE BUSINESS SECTOR COHPOUNDEO ANNUAL RATES Of CHANGE TERHINAL OUARTER INITIAL QUARTER 3-75 4-75 1-76 2-76 3-76 J-7f 7 U 6.6 7*1 7*° 2-78 6.9 6.» 6.9 3-78 4-78 6.5 6.9 6. 7 7 *° u . . --- J 1-79 7*5 7*3 7.6 2-79 7.8 7.6 8.0 3-T* . «♦o T*A . ••L 4-79_ 8.0 1-80 8.2 8.0 *«9 **3 3-75 4-75 6.8 _7?° _ 7** 4-76 1-77 2-77 3-77 4-77 7.2 7.1 8.0 7*9 10.5 12.5 7.0 6.9 7.6 7.4 8.9 9.1 5 . r \ 6.9 7.4 7.2 8.3 8.3 6.2 7.5 7.4 8.3 8.2 7 *l 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 189.4 ___ 192.1 6 . 6 \ 7.3 195.2 8.0s 199.0 Y— \ 14.6\. 7.8 7*® ®*4 8.4 9.3 9.5 8.0 8.1 8.2 8.7 8.8 9.6 9.6 «•2 8.3 9.0 9.7 _ ®*1 «•1 9*3 8.4 ••• 8.8 ?*A 9 . 2 ___ 9 . 8 10.5 U . l _ 10*0 9.1 7 . 8 ^ 221.1 8.3 8.4 8.6 8.6 9.1 9.1 9.8 9.9 9.6 10.1 10.7 11.3 10.5 10.1 9.9 227.5 8 .7 8 .9 9 .5 9 .5 1 0 .2 1 0 .3 1 0 .1 1 0 .6 1 1 .2 1 1 .8 1 1 .2 1 1 .1 1 1 .3 1 3 .1 1 4 .0 2-76 3-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4 -7 9 1-80 1-76 4-76 8.7 9.7 9.3 10.2 11.4 13.2 1 1 . 8 ^ _1P*2 11.2 12.2 11.1 205.9 211.7 10.4^ i i.oyo 2 * 7 ?0 1 2 . l \ I N I T I A L QUARTER PREPA REO BY FE O E R A L R E S E R V E AUGUST 2 7 , 1980 11 BANK O f S T . L O U IS G R O S S N A T I O N A L P R O O U C T IN C U R R E N T D O L L A R S CONPOUNOEO ANNUAL RATES OF CHANGE terminal QUARTER ----------- 3-75 4^15 » l L L l U N S Oh OULLAKS ANNUAL K A l t i INITIAL QUARTER A -l* 1-76 - ¿ - 1 $ ___ 2 ^ 1 6 ___ 4 - 7 » 1 -7 7 2 -7 7 3 -7 7 4 -7 7 1 -7 6 2 -7 8 3 -7 8 4 -7 6 1 -7 9 2 -7 V 3 -7 V * -7 v 9 *0 I ,5 9 « .0 I ,6 5 3 .7 1 ,6 0 3 .1 1 * 7 1 5 .8 1 , 75t> . 1 1 ,8 7 6 .0 1 * 9 3 0 .5 ifVTLsA 2 ,0 1 1 .3 2 ____ 1 1 . 4 11.6 1 1 * 6 . 1 2 *4 _ 1 2 * 6 12,3 12*2 12*2 13*9 19.8 -3.-7 0___ 11.4 11*6 11.7 12.2 12.5 12.1 11.9 11.9 12.9 15*3 11.0* _ » - 7 8 ____ 1 1 .6 1 1 .6 12*0 12*5 12.8 12*5 12*4 12.4 13.4 15*1 12.8 -JLr-12____ 1 1 . 5 11.7 11*? 12*3.12*6 1 2 +2 1 2 »! 1 2 *1 U t» 14*0 12*1 1 2 *6 ¿ “7 ? ____ 1 1 * 2 11.4 11*4 11*9 12*0 11*6 l l »4 U t3 l i t* 1 2 t? 1&*7 1 9 *6 4t3<9t 8 . 3 - 7 ? ____ 1 1 * 3 11»4 lit? l it» 1 2 tO 11*6 lit? 11*4 U*e 1?*4 W fO llfQ 2 * 3 9 6 .5 * 1 0 * .2 .. ,2 1 1 5 V ,6 _ 2 * 2 3 5 .2 2 10*6 *2? - 4 - 7 9 ____ 1 1 . 2 11*4 11*4 11*7 lltfl lit? U t 4 l i t? 1 1*6 1 2 tl I Q t? I Q * ? ____ 9 * 2 ____ ? t 7 l l t2 10t5 - lr& Q ____ 1 1 ,2 lit? --11.4 11.6 11.6 11.5 11.3 11.3 11.5 12.0 10*9 10.9 lflil 1 0 .0 1 1 .1 1 0 .6 J f c i 9 ____ 1 0 * 6 10.7 10*7 10.8 10.9 10.6 10.4 10.2 10.4 10*6 9*5 9.3 8*5 8.0 8.4 7.2 5.6 0.6 3-75 4-75 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 £ j 4 £6 a? 2 1 0 .8 ^ n » ?2 tf*tf I i 5 ?4 * 6 INITIAL QUARTER GROSS NATIONAL PR O O U C T IN 1972 00LLARS CONFOUNDED ANNUAL RATES OF CHANGE 3-75 _4 -T 3_ 2 .6 1-76 »*6 ¿- 7 6 5.2 3~76_ -4 - I 6 _ 4-75 1-76 2-76 3-76 4-76 1-77 10*7 4-77 p 1-76 2-78 3-76 4-78 1-79 2-79 3-79 4r?9 lrSO 1 * 2 > 9 ,S _ 6 . 5 ____ 2 t ? X _ 1*267.4 .________________________________________________________________________________________________________________ 1 1277.1 1 .2 0 0 .1 4 . 4 ____4 » ? ____ 3 * Q __ 5±2____ 4 * 1 _ 5.1 1 .3 1 5 .7 4.8 5 * 5 ____ i i L .4.6% 1 * 3 3 1 .2 7*0 4*6 4-77 J U I ____ 4 * ? ____ 4*_2_ .2-13- 1 f 3 5 3 .9 4.6 2.2 1 .3 6 1 .3 3.7 2.1 1 .3 6 7 .8 4.6 4.1 1*3 9 5 *2 4.6 4.5 Jb? 4 *» 4.7 4.7 4.3 4.6 1 * 4 2 6 .6 4 * 1 ____ 4 * i ____ 4 * 3 4.3 4 . 2 ____ 3 * 7 ____ 4 * 1 1 * 4 3 0 .6 3*5 3 * 4 ____1 * 9 ____ 1 .4 2 2 .3 3.5 3.3 1 * 4 3 3 .3 4-76 l-7g_ 3-77 1*227.9 ?-77_ .1-13- 2-77 _ 4 * I ____ J * 4 ____ 1-77 2—77 B I L L I O N S OF DOLLARS ANNUAL KATES INITIAL QUARTER T E R M IN A L QUARTER 1 * 4 0 7 .3 2.9 3-7? -A ± l____ ±±2____ 3 * i _ 4 - T fc. -A±&___ ______ 3*6_ 1 * % 4 0 .3 1-BQ____ 1*3___ 1*1___ 3*3_ L± 444*2 ? - »Q 3-75 ____ 3 *1 2 .7 4 -7 5 1-76 2 3.2 3 . 0 ____ l * 3 _ 2 .2 2 .0 1*5 1 .4 1-77 2-77 3-77 4 -7 7 IN IT IA L 1 .4 0 .6 0 .1 «0*7 - 1 .1 - 0 .8 - 2 .1 - 4 .0 1-78 2-76 3-76 4 -7 6 1-79 2-79 3-7 9 4-7 9 1 .4 1 0 .9 QUARTER P REPA RED BY F ED ER A L R ESE R V E AUGUST 1 9 , 1980 12 BANK OF S T . L O U IS GROSS N A T I O N A L P R O D U C T R A T 10 S C A L E T R I L L I O N S OF QUARTERLY TOTALS AT ANNUAL RATES RATIO SCALE DOLLARS SEASONALLY ADJUSTED T R I L L I O N S OF D O L L A R S 2 6 2 5 2 A 2 3 2 2 2 1 2 0 9 8 7 6 5 I . 8 1 .7 I . 6 1. 5 1 . I 4 .3 I . 2 1 . 0 0.9 0 SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED; 2ND QUARTER PREPARED 13 BY FEDERAL RESERVE BANK OF ST. LO U IS GENERAL PRI CE RATIO I NDEX* SCALE »A S USED RATIO IN NATIONAL INCOME ACCOUNTS SOURCE: PERCEN TAGES ARE ANNUAL RATES OF CHANGE FOR P E RIO D S LAT EST DATA PLOTTED* U .S . SCALE DEPARTMENT OF COMMERCE IND ICATED. 2N0 OUARTER PREPARED BY FEDERAL RESER V E BANK OF ST . L O U IS IMPLICIT PRICE DEFLATOR FOR GROSS NATIONAL PRODUCT __________ C O N P O U N O E O A N N U A L R A T E S O F C H A N G E ___ INITIAL OUARTER Çg*".I W âk _1 9 7 2 * IO C 1 30*14 13^30 1 3 4 .3 5 1 3 6 .3 4 1 3 8 .3 4 140.93 142*5? 144.82 147.05 1 5 0 .8 2 J*3± 45 1 5 6 .6 « 1 6 0 .2 2 163*»4 1 6 7 .^ 0 1 7 0 .5 0 174,48 1 7 8 .V 3 3-7 5 4 -7 5 H 6 2 -7 6 3-76— W 6 W 7 2-77 ~ 3-77 4-7 7 1-78 I N I T I A L QUARTER 2-78 3-78 4-78 1-79 2-79 3-79 4-7 9 PREPA RED BY FEO ERA L R ESE R V E AUGUST 1 9, 1980 14 1-80 “ BAN* OF S t . IÜ U 1 S PERSO NAL CONSUMPTION E X P E N D IT U R ES K A I1 S OF CHANGE-------- IN CURRENT O O LLA RS ^ __________ INITIAL QUARTER OQL^AR^ Q U A R T E R ------------------------------------------------------------------------------------------------------------------------------------------------------------------ A N N U A L R A T E S _______________ 3 - 7 3 4-75 1-76 2 -76 3-76 4-76 1-77 2-77 3-77 4-77 1-76 2-70 3-78 4-78 1 ,2 - 7 9 3 -7 9 4 -7 » 1 - 0 0 -------------------- r79 4r23 . -1 1 * 6 1 -76 1 2 .4 liP2jL*6 1 3 .2 . ______________ 3-76 10.7 10.4 9.1 10.4 4-76 11.0 10.8 10.0 11.2 12.0 1-77 11.4 11.4 10.9 12.0 12.9 L t£ 3 3 .8 _ 1*109*2 - 1.132,0 - 1.169,1 13.6 1.190.5 2-77 3-77 10.6 10.7 10.3 10.6 10.9 10.6 9.0 10.5 4-77 11.1 11.0 10.7 11.2 11.4 11.3 10.5 12.0 13.4 1.220.6 1-76 10.9 10.6 10.5 10.9 11,0 10.6 10.1 11.0 11.2 2-76 11.2 11.2 10.9 11.3 11.5 11.4 10.9 11.8 12.3 11.7 14.4 3-76 11.3 11.2 11.0 11.4 11*5 11.5 11.1 11.6 12*2 11.6 13.2 11.9 4-76 11*5 11*5 11.3 11.7 11*6 11.6 11*5 12.2 12*6 12,4 13.5 13.1 14.2 1.239.7 1.287.2 9.0 1.369,3 1.415.4 1-79 11.5 11.3 11.3 11.7 11*6 11.6 11.5 12.1 12.4 12,2 13.0 12,5 12.6 2-79 11.1 11.1 10.9 11.2 11.3 11.2 10.9 11.3 11.3 11.1 11.6 10.9 10.5 8.7 6.1 3-79 11.4 11,3 11,2 11.5 11.6 11.5 11.3 11.6 11.9 11.7 12.1 11,7 11.6 10.6 10.5 15.1 4-79 11*3 11.3 11.4 11.7 11.6 11.6 11.6 12.0 12.2 12.0 12.4 12.1 12.2 11.7 11.7 14.7 14.3 11.4 1,475.9 1.526,6 1.560.4 1-00 11.6 11.6 11.3 11.6 11.9 11.9 11.7 12.1 12.3 12.1 12.5 12.2 12.3 11.9 12.1 14.1 13.6 13.0 2-60 11,0 10.9 10,6 11.0 11.0 11.0 10.7 11.0 11.1 10.6 11.0 10.6 10.4 9.6 9.5 10.3 6.8 6.2 -0*? 1.629.5 3-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-76 4-78 1-79 2-79 3-79 4-79 1-60 1.626.6 INITIAL QUARTER P E R S O N A L C O N S U N P T I O N E X P E N D I T U R E S IN 1 9 7 2 O O L L A R S ___________ C 0 N F O U N 0 6 0 A N N U A L R A T E S O F C H A N C E ___________ B IL L IO N S T E R M IN A L QUARTER _____________3 - 7 5 4 -7 5 1 -7 6 2 -7 6 3 -7 6 4 -7 6 1 -7 7 I N I T I A L Q UARTER ANNUAL R A TE S 2 -7 7 3 -7 7 4 -7 7 1 -7 B 2 -7 6 3 -7 » 4 -7 B 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 - 0 0 __________________ — 4 = 1 3 _____ ¿ « 0 791 ,4 1 -7 6 1*2 ____ 3 . 4 2 -7 6 6 ,0 — 3 = 1 6 _____ 3 . 7 OF O O LLAR S 007« 3 6 * 0 ____ 3 * 6 ____________________________________________________________________________________________________________________________________________ 8 1 4 .3 3 .6 8 2 4 .0 4*2 _ 4 = 1 6 _____ 3 * 3 ____ 3 * 1 ____ 4 * 3 4*7 _ 3 * 4 ____ » « 2 _ 836*4 1 -77 3*? 3 * 3 ____ 3 * 2 ____ 3 * 2 ____ 4 * 2 ____ 4 * 3 ________________________________________________ 2 -7 7 5 .3 3 ,2 3 -7 7 3 * 2 ____ 3 * 1 ____ 4 * 4 ____ 4 * 1 ____ 4 * 1 ___ 4 * 4 ____ 3 * 4 ____ 5 , 1 ______________________________________________________________________ 8 4 9 , 2 4 , 5 ____ 4 * 2 ____4 * 2 ____ 4 * 9 ____ L * 9 8 3 3 ,1 8 6 3 .7 4 -7 7 5 .6 5 .5 5 . 1 ____ 3 * 4 ____ 3 * 3 ____ 3 * 3 ____ 3 * 9 ____ 4 * 4 ____ 3 * 2 ____________________________________________________________________ 1 -7 8 5 .1 5 .0 4 .6 2 -7 8 5 .1 5 , 1 ____ 4 * 2 ____ 4 * 1 ____ 4 * 3 ____ 4 * 4 ____ 4 * 3 ____ 4 * 9 ____ 4 * 3 ____ 3 * 1 . ___ 5 * 6 3 -7 8 5 . 1 ____ 3 * 4 ____ 4 * 2 ____ 4 * 3 ____ 4 * 3 ____ 4 * 4 ____ 4 * 4 ____ 4 * 2 ____ 4 * 3 ____ 3 * 2 ____ 3 * 2 ____ 4 * 3 ____________ ___________________________ _____________________________ 9 0 5 . 3 5 .2 4 ,9 4 .7 5 ,0 4 .7 4 .4 3 .9 4 ,7 4 .4 5 . 0 ____ 4 * ? ___ 4 * 2 ____5 * 2 ___ 5 * 2 _ 5 .2 4 .9 4 .6 4 ,5 4 .6 2 -7 9 4 .4 4 .2 3 .9 4 . 0 _____ 3 * 2 ____ 3 * 2 ____ 3 * 4 ____ 3 * 4 ____ 3 * 4 ____ 2 * 4 ____ 2 * 2 ____ 2 * 3 ____ 1 * 4 -1 * 1 9*3 3>*£ _ .4 * 3 3*1 4*4. 4*5 ^ *7 4 ,4 3*3 3 ,1 5*8„ 4*Q 3*2. 9 2 1 .8 -2 * 2 4 .4 4 .3 4 ,0 4*0 4*0. 4 .3 4 .0 4 .0 4 , 0 ____ 3 * 3 ____ 3 * 4 1 -8 0 4 .2 4 .0 3 .8 3 . B ____ 3 * 2 ____ 3 * 3 ____ 3 * 3 ____ 3 * 4 ____ 3 * 3 ____ 2 . 8 3 .0 2 , 6 ____ 1 * 3 ____ 1 * 4 -------i ± 4 -------3 * 1 -------1 * 3 ------ 9 * 3 _______ 9 3 6 .5 2 -6 0 3 .4 3 .2 2 .9 2 .9 2 .8 2 .5 2 .2 2 ,3 2 ,0 1 .4 1 .5 1 .0 0 .5 -0 ,6 -0 .8 -0 ,3 -1 ,9 -4 ,8 -9 .8 9 1 2 .6 3-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 IN IT IA L — <?*? 9 1 5 .0 4 .4 3 * 4 3 * 9 2*3, 9 2 0 ,3 0 *7 3 -7 9 . 3 * 3 ___ 1 * 4 ___ 3 * 0 1*1 _6*3__ 4 -7 9 _1*3_ 4*2 3*2 8 9 4 ,8 1 -7 9 4*4 8 8 0 ,9 8 8 2 .7 4 -7 8 4*6 _ 0 ,8 2 * 7 ____ 1 * 4 ____ ! * £ . . _ 4*9 9 2 5 ,9 4*3. 4 * 2 233*4^ QUARTER PJlEPA ftEO 6V F EO ER A L R E SE R V E AUGUST 1 9 , 1960 15 BANK OF S T . L O U IS GROSS P R IV A T E DONES T IC INVESTM ENT IN CURRENT DO LLARS ______ COMPOUNDED ANNUAL RATES O f CHANGE T ER M IN A L QUARTER 3-75 -* - 7 5____ A *-75 1—76 2 -7 6 3-T6 1-77 2-77 3-77 4-7 7 1-7$ 2-78 3-78 4-78 1-79 2-79 3-79 4-79 ft-SO B IL L IO N S ÜF OOLLARS ANNUAL KATES ? 203*9 - 1 = 1 6 ____ ¿ 2 , 3 72*0 -2-76 23*2 40«7 13.2 -*=16___ l? « fl 26*4 I l tO___ 2*Ä_ - 4 = 1 6 ____ 1 6 . 6 2 3 . 0 ____ ________ 7 * 4 - 1 = 1 2 ---- 2 2 « 5 29.0 20.1 21.8 29.9 56.5 233*5 .2 4 1 , 9 246.0 7*9 250.7 -?Mf4 JV W • V 3-77 23.6 28.4 22.3 23.7 28.3 36.0 26.8 22.6 4-77 20.9 24.7 19.1 19.7 22.5 26.4 17.7 11.6 315.7 1.5 316.9 1-78 20.1 23.4 18.3 18.8 20.9 23.7 16.6 12.2 7.3 13.4 2-78 21.4 24.5 20.1 20.7 22.8 25.5 20.0 17.4 15.7 23.6 34.7 3-76 19.9 22.5 18 .4 18.8 20.3 22.2 17.3 14.7 12.8 16.9 18.7 4.5 327.0 352.3 356.2 4-78 19.7 22.0 18.3 18.6 20.0 21.6 17.3 15.1 13.7 16.9 18.1 10.6 17.1 1-79 18.4 20.5 17.0 17.1 18.2 19.4 15.5 13.4 11.9 14.1 14.3 8.2 10.1 3.6 2-79 18.9 20.8 17.6 17.8 18.8 20.0 16.5 14.8 13.7 15.9 16.4 12.2 14.9 13.9 25.2 3-79 17*4 19.1 16.0 16.0 16.8 17.7 14.4 12.7 11.5 13.0 12.9 9.0 10.1 7.9 10.1 -3.1 4-79 15.9 17.4 14.4 14.4 15.0 15.6 12.5 10.7 9.5 10.5 10.1 6.5 6.9 4.5 4.8 -4.1 -5.1 1-60 15.0 16.3 13.5 13.4 13.9 14.4 11.4 9*8 8.6 9.4 8.9 5.6 5.8 3.7 3.7 -2.6 -2.3 11t? 11*2 11*5 11.« 8*9 7.3 6.0 6.4 5.7 2.5 2.2 -0.0 -0.7 r6±2_. .-7± 4_ -8.5 -16.8 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 4-79 1—80 4-79 BILLIONS OF DOLLARS ANNUAL RATES 1-80 2-80 . 3-75 4-75 370.5 373.8 395.4 392.3 3-79 387.2 0.5 387.7 370*3 INITIAL QUARTER G R O S S P R I V A T E D O N E S T I C I N V E S T M E N T IN 1 9 7 2 D O L L A R S COMPOUNDED ANNUAL RATES OF CHANGE INITIAL QUARTER TERMINAL QUARTER 3-75 4-75 -- 1 1 . 9 I—76 22.2 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 169.9 17.8 36*2 9.5 13.3 23.3 5.1 4-76 11*3 18*0 173.8 174.2 0*9 2.2 175.7 3.5 20.2 39.7 191.0 1-77 15.6 22*0 12.4 13.4 2-77 16.1 21.6 13.8 14.8 19.9 29.1 19.3 3-77 16.0 20.6 14.0 14.9 18.7 24.2 17.1 15.0 4-77 13.2 16.8 10.7 10.9 13.0 15.5 8.5 3.4 1??*« 206*7 -7.0 203*0 _ 209.0 1-76 13.1 16.3 10.9 11.1 12.9 14.9 9.4 6.3 2.2 12.4 2-78 13.3 16.2 11.4 11.7 13.3 15.0 10.7 8.6 6*6 14.1 15*8 3-78 11*7 14*1 9*7 9*7 10*8 11*9 7.9 5.7 3.5 7*3 4.8 -5.1 4-78 11.3 13.4 9.4 9.4 10.3 11.2 7.7 5.9 4.1 7.1 5.4 0.6 6.5 1-79 10*4 12*3 8*5 8*4 9*2 9*9 6.6 4.9 3.4 5.6 3.9 0.2 3.0 -0.4 2-79 10*3 12*0 8*5 8*5 9*2 9*7 6.8 5.4 4.1 6.1 4.8 2.3 4.8 4.0 7*1 7.5 4.7 3.2 ••7 3-79 69.5 2-76 3-7? 2-79 14*t9 3-76 4-7? 1-79 10*2 6*9 J£*3 ___ 6*2___ 5.5 6*6 itft. J 214*0 217*4 21 7*2. 221.7 8.5 -2t7 ^1**1 -12.9 aI 1*7 -1*0 0*1 -2*0 1.2 -0.4 -2.8 -2.4 -4.5 -5*8 -12*2 ^ 1 1 * 6 - 0 * 7 ____ 0 . 0 -1.4 -3.6 -3.4 -5.3 -6.4 -11*0 -10*Q 5.2___ i*6 ___ 5*2___ 3*1___ 1*6_ 207 *7 ¿03.2 1—6 0 6.4 7.6 4.6 4.3 4.5 4.6 2-60 4 .4 5 .4 2 .5 2 .1 2 .2 2 .1 - 0 .3 - 1 *8 - 3 .2 - 2 .8 - 4 .4 - 6 .6 - 6 .9 - 6 . 9 - 1 0 * ? - 1 4 « ? - 1 ? * + - 1 7 t 2 ^ 2 5 *2 J- 7 5 4-75 1-76 2 -7 6 3-76 4 -7 6 1-77 2-77 3-77 4-77 1-76 2-78 3-78 4-78 2 . 1 ____ 0 * 7 216.8 1-79 2-79 3 -7 9 -Q** 4 -7 9 189*0 1-80 I N I T I A L QUARTER PREPA REO BY FED ER A L R E S E R V E BANK OF S T . L O U IS AUGUST 19» 1980 16 GOVERNMENT PURCH ASES OF GOODS AND S E R V IC E S IN CURRENT DOLLARS COHPOUNOEO ANNUAL RAT^S OF CHANGE B I L L I O N S OF OOLLARS ANNUAL R A T E S T ERMINAL QUARTER 3-75 4 = 7 5 — 1=14— 2= 1 4 3 - 7 » — 4 = 1 4 ___1 - 7 7 2-77 3-77 4-77 W S 2-76 3-78 »«7» 1-7» 2-79 3-79 4-79 1-8Q - 4 r l 3 ____ 1 1 * 1 _ 351 *5 1 - 1 6 _____ 1 * 1 ____ 4 * 2 _ -¿= 1 6 _____ 6 * A 355*1¿«1 3-76 5.9 4.2 4-7» .4*5 .5*3 1-77 7.2 6.4 2-77 6.0 7.5 4.2 5.6 5*7 . 1 * 3 __ 2 * 0 7.0 It* 9.9 10.9 8.1 9.5 10.9 11.8 12.8 362.4 _370.3 360.0 391.6 3-77 8*2 7.7 8.4 2*.5 10.5 11.0 11.1 9.4 4-77 6.7 8.4 9.0 10*1 11.0 11.5 11.7 11.1 12.9 1-76 6.5 6.2 6.7 9.6 10,2 10.5 10.4 9.6 9.7 7.7 6.6 9.2 10.5 12.3 400.5 412.8 419.4 6.6 2-78 6.5 6.2 6.7 9.5 10.0 10.2 10.0 9.4 9.4 3-11 8.6 6.6 9.0 9.6 10.3 10.5 10.4 10.0 10.1 4-76 9.1 6.9 9.3 10.0 10.5 10.7 10.7 10.3 10.5 9.9 ll.I 12.3 12.2 _ 1-79 6.6 6.6 9.0 9.6 10.0 10.1 10 .0 9.6 9.7 9.1 9*7 10.0 8.9 428.3 440.9 453.8 5.7 460.1 2-79 6.6 8.4 6.6 9.3 9.6 9.7 9.6 9.2 9.1 8.5 8.9 8.9 7.8 5.7 5.8 _ 3-79 6.7 8.5 6.6 9.3 9.7 9.7 9.6 9.2 9.2 6.7 9.1 9.1 * 8.4 7.1 7.8 10.0 466.6 4-79 9.4 9.3 9.6 10.1 10.5 10.6 10.6 10.4 10.5 10.2 10.7 11.0 10.6 . 10.4 12.1 15.4 21.1 1-60 9.6 9.5 9.9 10.3 10.7 10.6 10.8 10.6 10.6 10.5 11.0 11.4 11.2 11.0 12.4 14.7 17.2 13.4 2-60 9.6 9.5 9.6 10.3 10.6 19.7 10.7 10.5 10.6 10*4 10. 8 11.1 10.9 10.7 11.7 13.2 14.3 LU I 3-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-76 4-78 1-79 2-79 3-79 4-79 1-80 4-79 BILLIONS OF ____ P O L L A R S_____ ANNUAL RATES 1-60 477.8 501.2 517.2 526.3 8.9 INITIAL QUARTER GOVERNMENT PURCHASES QUARTER 3-75 4-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 OF G O O D S A N D S E R V I C E S IN 1 9 7 2 D O L L A R S R A T E S O F C H A N G E ____ ____________ 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 265.7 2.9 -1.5 244*7 2-76 -0.5 -2.1 -2.7 3-76 -0.4 -1.5 -1.5 -0.3 4-76 -0.4 -1.2 -1.1 -0.2 -0.2 -0.4 -0.1 0.6 1.4 2.9 1-77 0.2 242*2 262.7 .141*8 264.5 147** 2-77 0.6 0.5 0.9 1.6 3.6 4*9 3-77 1.2 1.0 1.4 2.2 2.9 3.9 4*4 4.1 4-77 1.3 1.1 1.5 2.2 2.7 3.4 3.5 2.9 1-76 1.0 0.6 1.1 1*1 2*0 1 * 5 ____1 * 1 _ 1 * 5 1*4 270.3 1.6 0*1 271*? 270*7 -1*1 4*5 -0*1 0*9 1*4 .1*4. 3*0 5*1 1*1 1*4 3*5 0*9 1*3 1*7 2-76 1.0 0.6 1.1 1.6 1.9 2.2 1*1 3-76 1.4 1.2 1.5 2.0 2.3 2.6 2.6 6 —76 1.4 1.3 1.5 2.0 i*2 1*5 _1-19 1*2- 1.0 1.2 . 1*4 1*1 2*0 _ 2 rT 2 0.9 0*7 o>f 1.2 1.3 1 * 3 ____ L * 3 ____Q i S ____9 * 4 ____0 * 2 ____ fifti____ fiii__ = 1 * 1 — = ¿ * 4 — --3*3- 0«7 0 *2. 1*2 1*1 1*4 1*3 0*2 0*5 0*1 0*» 0*5 -1*4l 1 *1 1.5 1*7 1*1 1*7 1*4 1.1 1*£ 1.3 1*4. 1.4 1.7 1.8 2.0 1.9 1 . 7 ____ 1 * 4 ____ 1 * 4 ____ 1 * 1 ____ 1 * 1 ____ 1 * 3 ---- 1 * 2 ---- 1 * 2 ____ 3 * 1 ---- 5*-l_ - 4 .3 _ 3 = I2 _____ 0 * 2 - - Ir t O - 1*1____ 1 * 2 _ 1*5 2* 1 . 2*1 1*7 1*2 1*5 1*1 271*3 .. 1 1 4 * 7 1*2 0*0_ = 1 * 2 =0*6 0*7 174*0. 274.7 212*4 -1*2 1*0 0 * 4 ____ 1 * 2 3.3 213*1 »*0 ¿1 1 *1 280.0 261.3 I N I T I A L QUARTER PREPA REO 6V FE O E R A L R E S E R V E BANK OF ST * AUGUST 19* 1960 17 L O U IS D I S P O S A B L E P E R S O N A L I N C O M E IN C U R R B f T D O L L A R S ------- C O H P Q U N O E D A N N U A L R A U S O f C H A N G E __________ -TERM IN A L. B I L L I O N S OF OOLLARS ANNUAL RATE S INITIAL QUARTER q uarter 3 -7 5 4- TS M At a- r t i- n v r if t i - rr z-n i- n * ,- n i- T d 2-t» 3-ts w a i-t» ¿-to 3- 7 » > - 7« 9#6 It 1 2 5 . 8 -1-76 9 . 7 ____ 9 . 7 -2-76 9 * 6 --- I t f l ____ f t â l . -_3r 7 6 1 . 4 ____ 9 . 0 1.152.2 -1» 170*2- 7 .2 e .i - t i l ____ 2 * 6 ____ B . 2 .9.2 IOt? ____ 9 , 2 9*8 9.3 -2=72--- 2*2---2*3___ 2*2___ 9 . 9 10.5 10.6 - H t 1-77- 3-77 - 1 * 5 ---- 2 * 2 ---- M i > 123*1 1» ??? *§ - 1 j?5 Q ^ 12.0 9,7 1^186*0 _a t r i .. W 7 _ t»9 10*0 10 *0 _ ! 0 t 6 11.1 11.3 12.0 12.0 12.0 - l-7ft_ 10.0 10.0 10.0 11.0 11.1 11.6 11.5 11.1 10.3 10.6 I *361.2 2-78 10.2 10.3 10.3 10.6 11.2 11.4 11.8 11.8 11.7 11.5 12.7 . 3-7* 10*2 10*4 10.4 _10.9 11.2 11.4 11.7 11.7 11.6 11.5 12.0 11.4 . 4-25_ 10.6 10.6 10t7 11.2 11.5 11.7 12.0 12.0 12.0 12.0 12.6 12.5 13.7 . 1-79 10*7 10.9 10.9 11.3 11.7 11.6 12.1 12.2 12.2 12.2 12.7 12.7 13.4 13.0 . 2-72 10.2 Lfi*6 10.7 11.0 11.3 11.4 11.6 11.6 11.5 11.5 11.7 11.4 11.5 10.3 7.7 . 2-72 10.3 10t6 10.6 10.9 11.2 11.3 11.5 11.4 11.3 11.2 11.4 11.1 11.1 10.2 8.8 _ 4-79 10.5 10.6 10.6 10.9 11.2 11.2 11.4 11.4 11.3 11.2 11.3 11.1 11.0 10.4 9.5 10.4 10.9 1-90 10.7 10.7 10.6 11.1 11.3 11.4 11.6 11.6 11.5 11.5 11.6 11.4 11.5 11.0 10.5 11.5 12.2 13.5 2-80 10.3 10.4 10.4 10.7 10.6 10.9 11.0 10.9 10.6 10.7 10.7 10.5 10.4 9.8 9.2 9.6 9.5 8.7 4.1 3-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-76 4-78 1-79 2-79 3-79 4-79 1-80 1.437.3 1*476.5 1.524.8 h> n*z. 1.601.7 9.9 1*640.0 1.683.1 1.737.4 INITIAL QUARTER DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS C O M P O U N D E D A N N U A L R A T E S O F C H A N G E ________ 3-73 4-73 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 ____________ *-2 3 4.0 1-76 4 .7 ___ 2*2_______ 2-76 3 . 6 ____ 2 * 2 ____ 2 * 1 _ 2t76 BILLIONS OF 1 DOLLARS ANNUAL RATES INITIAL QUARTER TERMI NA I QUARTER _m *2_ 883.1 __ 99 T il 893.4 - 2 *5 ____ 2 * 3 ____ 2 * 2 ____ 2 * 6 _ 9 0 3 .3 4 .5 4 -7 6 3 .7 3 .6 3 .1 3 .5 1 -7 7 3 .4 3 .3 2 .6 3 .1 3 .3 2 -7 7 3 .6 3 .6 3 .5 3 .6 4 .2 6 .1 3 -7 7 4 .2 4 .2 4 .0 4 .4 4 .6 6 .3 9 0 6 .0 9 2 1 .5 -----6 .6 ------------- 9 3 6 .3 --------- 9 5 1 .8 4 -7 7 4 .4 4 .3 4 .4 4 .8 5 .2 6 .5 6 .7 6 .8 1 -7 6 4 .2 4 .2 4 .1 4 .4 4 .7 5 .4 5 .1 4 .4 2 .0 4 .3 3 .0 4 .0 9 5 6 .6 9 6 6 .1 2 -7 6 4 .2 4 .2 4 .1 4 .3 4 .6 5 .1 4 .6 3 —7 6 4 .2 4 .2 4 .1 4 .3 4 .5 4 .9 4 .7 4 .3 3 .4 4 .1 4 -7 6 4 .4 4 .4 4 .3 4 .5 4 .7 5*2 5 .0 4 .7 4 .2 4 .9 5 .3 1 -7 9 4 .2 4 .2 4 .1 4 .3 4 .5 4 .6 4 .6 4 .2 3 .7 4 .2 4 .2 2*1 996*6 2 .9 2 .3 0 .3 -It* .. 993*9 1 .8 0.3 —0 . 6 0.2 976*2 4 .2 9 9 1 .5 6 .4 . 2 -7 9 3 .6 3 .6 3 .7 3 .6 3 .9 4 .1 3 .6 3 .4 3 .0 2 .8 3 -7 9 3 .6 3 .5 3 .4 3 .5 3 .6 3 .7 3 .4 3 .0 2 .5 2 .5 2 .3 4-79 3.4 3.4 3.3 3.3 3.4 3.4 3.2 2.6 2 .3 2 .3 2.1 1*6 0.5 " 0 .1 0.6 1 .1 3.2 3.0 2.6 2.2 2.2 1 .9 1.5 0.6 0.2 0.7 1*0 0*9 -1*0 -1*3 -2*6 -5*9 2-79 3-79 4-79 I- 8 0 1-60 2 -6 0 3.3 3.2 3.1 3.2 3.2 2 .6 2 .7 2 .6 2.6 2.6 2 .5 2 .2 1 .6 1.3 1*2 0.9 0.4 -0*5 -1.1 3-75 4-75 1 -7 6 2-76 3-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 993*4 996*2 9 9 8 .5 963*4 INITIAL QUARTER PREPA REO BY F ED ER A L R E S E R V E AUGUST 1 9 , 1980 18 BANK OF S I . L O U IS CORPORATE PROFITS AFTER TAXES * COMPOUNDED ANNUAL R A T E S O F CHANGE BILLIONS OF _ 0 Q L L A R S ______ ANNUAL RATES INITIAL QUARTER QUARTER 3-75 4-75 4-75 1-76 2-76 3-76 4-76 1-77 2-77 4-77 3-77 1-70 2-70 3-70 4-70 1-79 2-79 3-79 4-79 1-80 00.3 11*8 5LUÄ L i -76 2-76 23.7 30.1 2.7 91.6 3-76 19.0 21.5 4.2 5.0 4-76 15.2 16.1 3.2 3.5 1.3 92.9 1-77 17.3 10.4 9.0 11.2 14.0 20.3 2-77 17.6 10.6 11.0 13.2 15.0 23.0 93.2 99.2 19.4 103.7 3-77 17.2 10.0 11.5 13.4 15.4 20.5 16.0 14.2 4-77 15.4 15*9 10.2 11.5 12.7 15.0 11.9 0.3 2.6 107.2 1-78 13*3 13.5 0*3 9.1 9.7 11.4 7.6 3.9 -0.9 -4.4 2-7$ 17.7 10.4 14.1 15.6 17.1 19.9 10.3 10.0 19.3 20.7 73.2 107.9 106.7 122.6 124.6 3—70 16*0 17.3 13.4 14.7 15.0 10.0 16.4 15.0 16.2 21.2 36.4 7.4 4-78 17.6 10.1 14.6 15.0 17.0 19.1 17.9 17.6 10.3 22.6 33.2 16.0 27.1 1-79 10.6 19.2 16.0 17.3 10.5 20.6 19.6 19.7 20.6 24.6 33.1 21.9 29.9 32.7 2-79 16*7 17.0 14.0 15.0 15.9 17.4 16.3 15.9 16.1 10.6 23.0 13.0 16.0 10.9 -7.4 3-79 17.4 17.0 15.0 16.0 16.9 10.4 17.4 17.2 17.6 19.9 24.5 16.6 19.0 16.4 9.1 20.5 4-79 16.0 16.3 13.6 14,4 15.1 16.4 15.3 14,9 15.0 16.7 20.0 12.9 14.1 11.0 4.6 11.2 1—0 0 17.0 17.3 14.0 15.6 16.4 17.6 16.0 16.5 16.0 18.5 21.7 15.7 17.2 15.3 11.3 10.3 2-00 11.2 11.2 0.6 9.0 9.2 9.0 0.5 7.6 7.1 7.5 0*9 2.0 2.1 -1.5 -7.2 -7.2 3-75 4— 7 5 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-70 2-70 3— 70 4-70 W 9 2-79 132.3 142.0 139*3 140.3 -3.7 13.5 146*9 33.0 -16.7 -22.5 3-79 4—79 150*0 -55*1 129.3P 1-00 INITIAL QUARTER * NATIONAL INCOME P- PRELIMINARY BASIS f M P M E O lY FE06KAL RESERVE M N K AUGUST It, 19*0 SO U R C ES N A T IO N A L S o u rc e : U . S . D e p a rtm e n t A n a ly s is , 1 9 2 9 - 7 2 : T h e IN C O M E o f C o m m e rce , In c o m e S t a t e s , D A TA PRO D UC T W a s h in g to n , N a t io n a l U n ite d AND O F D .C . a n d A CCO UN TS B u re a u o f E c o n o m ic 2 0 2 3 0 P r o d u c t 1 9 2 9 - 7 4 , D A T A A A c c o u n ts S u r v e y o f o f th e C u r r e n t B u s in e s s S u p p le m e n t. 1 97 3 1 9 7 4 : S u r v e y o f C u r r e n t B u s in e s s , J u l y 1 9 7 7 . 1 9 7 5 : S u r v e y o f C u r r e n t B u s in e s s , J u l y 1 9 7 8 . 1 9 7 6 - 7 8 : S u r v e y o f C u r r e n t B u s in e s s , J u l y 1 9 7 9 . 1 9 4 7 - 7 9 : S u r v e y o f C u r r e n t B u s in e s s , Ja n u a r y t a b le s o f s e le c t e d T h e o f th e S u r v e y D e p a rtm e n t D o c u m e n ts , U . S . o f i s a v a ila b le C o m m e rce G o v e rn m e n t o r fro m fro m P r in t in g 2 0 4 0 2 . 1 9 8 0 (s u m m a ry s e r ie s ) 19 m o st th e d i s t r i c t o f f i c e s S u p e r in te n d e n t O f f i c e , W a s h in g to n , o f D . C . Of ST. LOUIS INVENTORIES COMPARED WI T H MANUFACTURING AND MONT H L Y SALES* TRADE 72 68 .6 8 64 . 60 60 . 56 56 . 52 52 . 48 48 44 40 . 40 . 36 36 1966 1971 1967 ! «RATIOS BASED ON S E A S O N A L L Y SHADED AREAS LATEST DATA I REPRESENT PLOTTED: ADJUSTED PERIODS JUNE OF 1972 1977 1 DATA. BUSINESS SOURCE: I U . S . DEPARTMENT OF C O MME R C E RECESSIONS. PRELIMINARY PREPARED 20 BY FEDERAL RESERVE BANK OF ST LOUIS
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