Full text of National Economic Trends : December 1967
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nRTionflL PREPARED BY MONTH ENDING:N o v e m b e r 3 0 , 1967 economic treiids FEDERAL RESERVE BANK OF ST. LOUIS RELEA S E D :D ecem ber 2 0 , 1967 E c o n o m ic a c t iv it y a p p e a r s to h a v e r e b o u n d e d f r o m the s lig h tly m o d e r a t e d p a c e in d u c e d by r e c e n t s t r ik e s . In d u stria l p r o d u c tio n in c r e a s e d s h a r p ly in N o v e m b e r as fir m s r e c e n t ly a ffe c t e d by s t r ik e s r e s u m e d p r o d u c tio n . D e s p ite d e c r e a s e d a c t iv it y in the p r e v i ous tw o m o n th s , p r o d u c t io n r o s e at a 5 p e r cen t r a te f r o m June to N o v e m b e r and r e a c h e d a le v e l o n ly s lig h tly b e lo w the h i s t o r i c a l h ig h o f la s t D e c e m b e r . S ig n ific a n t in c r e a s e s in the m a n u fa c tu r e o f d u r a b le m a t e r ia ls and p r o d u c ts w e r e p r im a r ily r e s p o n s ib le f o r the o v e r a ll p r o d u c tio n in c r e a s e s . E m p lo y m e n t r o s e m a r k e d ly in N o v e m b e r a fte r sh ow in g little ch an ge in the tw o m on th s p r e v io u s , and s h o w e d a 5 p e r cen t annual ra te o f in c r e a s e f r o m s p r in g . The r a p id in c r e a s e in e m p lo y m e n t c a u s e d the u n e m p lo y m e n t ra te to f a ll to 3. 8 p e r c e n t, about the le v e l w h ic h had b e e n m a in ta in e d f o r m o s t o f the y e a r . P a y r o ll e m p lo y m en t i n c r e a s e d s h a r p ly in N o v e m b e r as t h o s e u n e m p lo y e d by s t r ik e s re tu r n e d to w o r k , and has g r o w n at b e tte r than a 3 p e r cen t r a te f r o m s p r in g . F o llo w in g the abru pt d e c lin e in O c t o b e r , r e t a il s a le s r e bou n d ed s tr o n g ly in N o v e m b e r and as a r e s u lt s h o w e d a 5 p e r ce n t ra te o f in c r e a s e f r o m s p r in g . M o s t o f the in c r e a s e w as in the s a le o f n o n -d u r a b le s . C o n s u m e r n o n -d u r a b le s at the r e t a il l e v e l h a v e e x p e r ie n c e d s o m e s ig n ific a n t p r ic e in c r e a s e s r e c e n t ly and p a rt o f the N o v e m b e r in c r e a s e w as p r o b a b ly due to th e s e h ig h e r p r i c e s . R e fle c t in g the reb ou n d o f a c tiv ity as m a jo r s t r ik e s en d ed , p e r s o n a l in c o m e in c r e a s e d s h a r p ly in N o v e m b e r . G ro w th in p e r s o n a l in c o m e had m o d e r a t e d in the p r e v io u s two m on th s but, w ith the r e c e n t in c r e a s e , s h o w e d an 8 p e r cen t r a te o f in c r e a s e f r o m s p r in g to N o v e m b e r , c o m p a r e d w ith a 5 p e r cen t ra te d u rin g the w in te r and s p r in g . M o s t o f the in c r e a s e in p a y r o ll in c o m e o r ig in a te d in d u r a b le g o o d s m a n u fa c tu r in g in d u s t r ie s , m a in ly th o s e r e c e n t ly a ffe c t e d b y s t r ik e s . The c u r r e n t e x p a n s io n is b ein g a c c o m p a n ie d by a c c e l e r a t ing p r i c e s . P r i c e s o f c o n s u m e r c o m m o d it ie s l e s s f o o d in c r e a s e d at a 5*5 p e r cen t r a te f r o m July to O c t o b e r , fo llo w in g a 2. 2 p e r cen t ra te o f in c r e a s e d u rin g the p r e v io u s s e v e n m o n th s . W h o le s a le p r i c e s o f in d u s tr ia l c o m m o d it ie s in c r e a s e d at a 3 p e r cen t r a te f r o m July to O c to b e r a ft e r ch a n g in g lit t le e a r lie r in the y e a r . 2 TOTAL CIVILIAN EMPLOYMENT I iOFn. ANNUAL RATES -Of LHAMur___ THOUSANDS OF PERSONS IN IT IA I MOMTH TEAM INAL MONTH OU-66 0 5 -6 6 06-66 07-66 Qfl-66 09-6 6 10-66 11-66 19-66 0 1 -67 0 5 -6 7 03*67 0U-6J 0 5 -6 7 0 6 -67 0 7 -6 7 0 8 -6 7 0 9 -67 1 0 -67 0 5 -6 6 4 .7 - 0 6 -6 6 1 .6 8.2 0 7 -6 6 1.7 5-0 2.0 OfifcAA _ 2.^.5 _ -5-J1 _^.k. 0 9 -6 6 2j .2_. U.O 2 .6 2.9 .9 10 -66 1-8 3.2 2.0 2 .0 -5 1 1 -66 7 2 t 253 7 2 .7 3 0 79.RU6 5 .0 73 . 1U1 7 3 .1 9 5 7 3 .1 9 9 -1 3.2_ U .6 3 .9 4 .4 U.2 5 .9 12. 1 2 ,8 3.9 ... 3 .2 3,5 3.1 3.9 5.8 0 1 -6 7 3.2 4.2 3 .6 3.9 3.7 U.U 5.9 2.9 6.1 0 2 -6 7 2.6 3 .5 2.9 3. 1 2.7 3. 1 3.9 1.3 2.0 .1 7 3 .8 9 7 7 3 .8 9 3 .1 - 7U .255 7 U . 137 1. 9- 73.7U7 03-67 1.8 2.5 1.9 1.9 1.U 1.5 1.8 .6 - .8-- U.O- 6.1- OU-6 7 1 .9 2.5 2.0 2 .0 1.6 1 .7 2.0 .0 .1 1- 9- 1. 8- 2.7 05-67 1.0 1.4 .8 .7 .3 .2 -? 1-6- - 1-9- - 3- 9— U. 5 - 3.7- 73.910 7 3 .2 8 9 9.6- 7U.1U7 06-67 1 .9 2.4 2.0 2.0 1.7 1 .7 2.0 .6 .7 .4- .0 2. 2 1.9 15.0 07-67 2. 1 2.7 2.2 2.3 2.0 2. 1 2. U 1.2 l.U .6 1.1 1.1 3.2 10.2 08-67 2.2 2.7 2.3 2 .4 2.2 2.3 2 .5 1.5 1.7 1.1 1.6 3.2 3.3 8.0 U.7 3.8 09-67 2.0 2.5 2. 1 2.1 1 .9 2.0 2.1 1.2 1,3 .8 1.1 2.U 2.3 5.6 2.6 1.1 10-67 1.9 2.3 2.0 2.0 1.7 1.8 2.0 1.1 1.2 .7 1.0 2.1 2.0 U.5 2.0 .8 11-67 2.2 2.6 2.3 2.3 2. 1 2. 2 2. U 1.6 1,8 1.3 1.7 2. 7 2.7 5.0 3,1 2.H 5.7 7U.U89 7U.718 7U.625 1. 5.72.0 7U.630 .1 3.7 75,083 7.5 OU-66 0 5 -6 6 0 6 -6 6 07-6 6 08 -6 6 0 9-6 6 10-66 11-65 12-66 01-67 02-67 03-67 OU-67 05-67 06-67 07-67 0 8 -6 7 0 9 -6 7 10-67 I NI TI AL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PAYROLL EMPLOYMENT nOMPOiJNnFn a n n u a l ra te s of change THOUSANDS IN IT IA L TERM INAL MONTH nu -6 6 0 5 -6 6 06 -6 6 07-66 08 -6 6 09 -6 6 05-66 OF MONTH PERSONS 10-66 11-66 12-66 01-67 Û2-67 03*67 OU-67 05-67 06-67 0 7 -6 7 08-67 09-67 10-67 63.616 3.7 06-66 6.2 8.9 07-66 4.8 5 .4 2. 1 6U.069 08-66 4.U 4.7 2.6 3.1 6U.180 6U.345 6U.394 09-66 3.7 3.7 2. 1 2.0 .9 10-66 4.0 4 ,1 3 .0 3.2 3.3 5.7 11-66 4.3 4.4 3 .6 4.0 U.2 5.9 6.1 6U.694 65.014 12-66 U.4 4.5 3.7 U. 1 U.3 5.U 5.3 U.5 01-67 4.5 4 .6 U.O U.U U.6 5, 6 5.5 5.2 5.9 02-67 4.3 4.4 3.8 U. 1 U.2 U. 9 U. 7 4.2 U. l 2.4 03-67 4.c 4.0 3.5 3.7 3,8 U.3 U.O 3.1» 3.1 1.7 65, 251 65.56U 65,692 1.1 65.7U9 OU-67 3.5 3.5 3.0 3.1 3.1 3* U 3.0 2.!» 1.9 .5 .U- 1.8- 05-67 3.2 3.2 2.7 2.7 2.7 2. 9 2.5 1.9 l. U .3 .3- 1.0- 06-67 3.3 3.3 2.9 2.9 2.9 3. 1 2.8 2.U 2.0 1.3 1.0 .9 2.3 5.0 07-67 3.2 3. 1 2.7 2.7 2, 7 2.9 2.6 2.1 1.8 1.1 .9 .9 1.8 2. 8 .6 65,653 .2- 65,639 65,903 65.939 08-67 3.3 . 3.2_ 2 .8 2.9 2.9 3.1 2.8 2. U 2.2 1.6 1.5 1.6 2.5 3.1» 2.6 U.7 09-67 2. 9 2.9 2 .5 2.5 2.5 2. 6 2.3 1.9 1.7 1.1 1.0 .9 1.5 1.9 .9 1.1 10-67 2 .9 2.9 2.5 2,6 2.5 2. 6 2.U 2.a 1.8 l.U 1.2 1.3 1.8 2.2 1.5 1.8 .1» 3.2 11-67 _ 3.2 3.2 2.9 2. 9 2.9 3,1 2.9 2.6 2.k 2.1 2.1 2. 2 2.8 3 .3 3 ,0 3.5 3.2 6. 1 66, 190 2. U- 66,055 66.23 IP 9.0 66.709P OU-66 0 5 -6 6 06 -6 6 07 -6 6 08-66 09-66 10-66 11-66 12-66 01-67 02-67 03*67 OU-67 05-67 06-67 07-67 08-67 09-67 10-67 I NI TIAL MONTH P- PRELIMINARY PREPARED BY FEDERAL RESERVE PANIC OF ST. DECEMBER 1U, 1967 LOUIS 3 Employment R a t io S c a l e R a t io S c a l e Source: U.S. Department of Labor Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recent deve lopments with past "trends.” Latestdata plotted: Novem ber prelim inary Prepared byFederal Reserve Bank ofSt.Louis A INDUSTRIAL PRODUCTION COHEflliNDm ANNUAL RALES OF SHANfiE TERMINAL______________________________________________________________IN I T I AL .HQHTH________ !_______________________________ _______________ :___ L957- 59 / 100 MONTH 04-66 05- 66 06- 66 07-66 08- 66 09-66 10-66 11-66 12-66 01-67 02-67 03-67 04-67 05- 67 06- 67 07-67 08-67 09-67 10- 67 05-66 12.3 06-66 10.6 8. 8 07- 66 8. 9 7. 2 155.4 156.5 157.2 5. 5 08-66 7. 8 6. 3 5. 1 4. 7 09-66 6. 7 5. 3 4. 2 3. 5 2. 3 157.8 158. 1 10-66 7. 3 6. 3 5. 7 5. 7 6. 2 10.3 11-66 5. 9 4.8 4. 0 3. 7 3. 3 3. 9 2.2- 12-66 5. 5 4. 6 3. 9 3. 6 3. 3 3. 6 .4 f*-o I o 159.4 3. 7 2. 7 1.9 1.3 .6 .2 02- 67 2.1 1.0 .1 .7- 1.5- 159. 1 159.5 3.1 3.0- 3.3- 9.3- 158.2 2.3- 5.2- 6 . 1 - 1 0 . 4 - 11. 5- 156.6 03- 67 1.8 .8 . 1- .8- 1. 5- 2.1- 4.5- 5.0- 7.5- 6.6- 1.5- 04-67 1.7 .8 .0 .6- 1.2- 1.7- 3.6- 3.9- 5.5- 4.2- .4- 05-67 1.0 .1 .6- 1. 2- 1. 9- 2.4- 4. 1- 4.4- 5.8- 4.9- 2.5- 3.0- 6. 7- 06-67 1.0 .1 .6- 1. 1- 1.7- 2.1- 3.6- 3.7- 4.8- 3.9- 1. 9- 2.0- 3. 4- 156.4 156.5 .8 155.6 .0 155.6 07-67 1.4 .7 .1 .4- .8- 1. 1- 2.3- 2.3- 3.1- 2.0- .0 .4 .3 3. 9 8. 0 08-67 2. 0 1.4 .9 .5 .2 .0 1.0- .8- 1. 3- .1- 1.9 2. 6 3. 1 6. 6 10.0 12.1 09- 67 1.3 .7 .2 .2- .6- .8- 1.8- 1.7- 2.2- 1.3- .2 .5 .5 2. 3 3.1 .8 9. 4- 10-67 1.1 .5 .0 .4- .8- 1. 0 - 1.9- 1.8- 2.3- 1.5- .2- .0 .1- 1.2 1.6 .5- 6.3- 3.0- 11-67 2.1 1. 5 1.1 .9 .6 .5 .2- .1 - .3 - 4. 4 5. 3 2. 3 8. 7 .6 2.1 2. 5 2. 8 156.6 4. 7 158. 1 156.8 156.4P 21 . 9 159. OP 04-66 05- 66 06-66 07-66 08- 66 09-66 10-66 11-66 12-66 01-67 02-67 03^67 04-67 05-67 06-67 07-67 08-67 09-67 I Q - 67 I NI T I AL MONTH P- PRELIMINARY __________________________________________________________________________________________________________PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DECEMBER 18*1967 5 Industrial Production Ratio Scale Ratio Scale Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recentdevelopments with pasf'trends.” Latest data plotted: November preliminary Prepared by Federal Reserve Bank of St. Louis RETAIL SALES COMPOUNDED ANNUAL RATES OF CHANCE MILLIONS OF I NI T I A L HQNTH MONTH 04 -6 6 0 5 -6 6 06 -66 07-66 08-6 6 09 -6 6 10-66 11-66 12-66 01-67 02-6 7 03-6 7 04-6 7 05 -6 7 06 -6 7 07 -6 7 0 8 -6 7 09 -6 7 10 -6 7 2 0 .6 - 24,475 0 6 -6 6 11.2 5 5 .6 07 -6 6 6 .8 23.8 1.5- 0 8 -6 6 7.7 19.2 4 .3 10.4 0 9 -6 6 7. 4 15 .8 5 .0 8.3 10-66 4.9 10 .9 ... 1.9 3.0 .5 - 6.9 - 11-66 4.6 9.5 2. 1 3 .0 .6 2 . 1- 2 .4 - 5. 1- 1.1 .2 - 25,394 25.362 . 1 2 5 .5 7 2 12-66 2.5 6.3 0 1 -6 7 4.0 7.5 2.0 02 -6 7 2.5 5.5 .5 .7 .8 - 03 -6 7 3. 5 6.2 1.8 2 .2 1. 1 OH-67 3.9 6.5 2. 5 2.9 05 -6 7 3 .5 5.8 2 .2 2.5 0 6 -6 7 5.5 7.8 4.5 .2- 2.6 2 5 ,7 0 3 6 .3 2 5 .5 5 0 2 5 .6 1 0 2.9 4 .2 2.2 25.368 10.81.3 2 5 .6 8 7 16.2 2 .2 - 2 .4 9 .7 - 1.5 6 .0 1.2 2.9 2 .? 6 .6 3. 7 1.1 2.3 2 .3 5.1 2.5 6 .9 3.7 4.6 4.4 5 .9 6.3 9 .5 8 .2 13.2 13.1 15.4 3 4 .5 2.2 - .9 - .3 1.8 2.0 1. 4 1.7 5. 1 2 5 .4 7 0 2 5 .7 3 9 13.4 11.0 25.918 8.7 2 5 .8 9 7 1.0 - 2 6 ,5 4 4 2 6 .4 4 4 07 -6 7 4.8 6.9 3.8 4.3 3 .7 3.5 4.7 4. 9 7 .4 6.0 9 .4 8.5 8.4 13 .4 4.4 - 08 -6 7 4.4 6.3 3 .5 3.9 3 .3 3. 1 4. 1 4 .3 6.3 5.0 7 .6 6.5 6 .0 8.4 2.7 - 1 .0 - 09 -6 7 5.0 6.8 4 .2 4.6 4.2 4.0 5. 1 5 .3 7.2 6 .2 8.6 7.9 7 .7 10 .0 2.9 6.7 10 -6 7 3. 1 4.7 2. 1 2.4 1.8 1 .5 2.2 2 .2 3 .6 2 .3 3 .9 2.6 1.6 2 .1 4.7 - 4 .8 - 11-67 4.0 5.5 3. 1 3.4 3 .0 2.7 3 .5 3. 6 5.0 3.9 5 .6 4.6 4. 1 4.9 .2 - .9 04 -6 6 0 5 -6 6 06 -6 6 07 -66 08 -66 09 -6 6 10-66 11-66 2 6 ,4 2 2 2 6 ,7 3 2 15 .0 6.6 - 2 4 .2 - 2 6 . 122P 1.6 26.525P 4 . 5 - 2 0 .2 12-66 01-67 02 -67 03-67 04 -6 7 0 5 -6 7 06 -6 7 07 -6 7 08 -6 7 09 -6 7 10-67 IN IT IA L MONTH P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS DECEMBER 13 ,1967 PERSONAL INCOME COMPOUNDED ANNUAL RATES OF CHANGE BILLIONS OF DOLLARS ANNUAL RATES 10-66 11-66 12-66 01-67 02 -6 7 03 -67 04 -6 7 0 5 -6 7 06 -6 7 07 -6 7 08 -6 7 09-6 7 10-67 I N I T I A L MONTH TERMINAL MONTH 04 -6 6 0 5 -6 6 06 -6 6 07 -66 08 -6 6 09 -6 6 05 -6 6 3.0 06 -6 6 6 .9 10 .9 07 -6 6 7. 1 9.3 08 -6 6 7.7 9.3 8 .6 9.4 09 -6 6 8.3 9.7 9 .3 10.1 10-66 8. 1 9.2 8.7 9.1 8.9 7. 1 8 .9 9.2 9. 1 8.4 9.6 8.8 8 .4 8.5 8.3 7.6 7.8 6 .3 1 1 -6 6 __ __ 8 - 3 576. 1 _ 581. 1 5 8 4 .7 7 .7 589. 1 10.7 594. 1 59 7.5 602. 1 12-66 __ 8 . 0 01 -6 7 8.4 9. 1 8 .8 9.0 8 .9 8.5 8.9 8 .6 1 1.2 0 2 -6 7 8.0 8.5 8 .2 8.3 8. 1 7.6 7.8 7.2 7 .8 4 .4 03 -6 7 7 . 8 __ 8 . 3 8 .0 8.0 7.8 7.4 7 .4 6.9 7 .2 5 .2 6 .0 0 4 -6 7 7.3 7.7 7 .4 7.3 7. 1 6.6 6 .5 5 .8 5 .8 4.1 3 .9 0 5 -6 7 7.0 7.3 7 .0 6.9 6.6 6.2 6 .0 5.1» 5 .3 3 .9 3 .7 2 .6 3 .4 0 6 -6 7 7. 1 7.4 7. 1 7. 1 6.9 6.5 6 .4 5 .9 5 .9 4 .9 5 .0 4.6 6. 1 07-6 7 7.2 7.5 7 .3 7 .2 7 .0 6.7 6 .6 6 .3 6 .3 5 .5 5 .7 5 .7 7 .0 8 .9 8 .8 08-6 7 7 .3 7 *6___ 7 .4 7 .4 7 .2 6 .9 6 .9 6 .6 6 .7 6 .0 6 .3 6.4 7 .5 9 .0 9 .0 6 0 5 .0 61 0 . 4 61 2 .6 61 5 . 6 1 .8 6 1 6 .5 6 1 8 .2 8 .9 62 2 .6 62 7 .0 9 .2 63 1.6 0 9 -6 7 7 .2 7.5 7.3 7 .2 7. 1 6 .8 6 .8 6 .5 6 .5 6 .0 6 .2 S .2 7.1 8 .1 7.8 7.3 5 .5 10-67 7 .0 7.2 7 .0 7.0 6 .8 6 .5 6 .4 6 .1 6 .2 5 .6 5 .8 5 .7 6 .4 7 .0 6 .6 5 .8 4*2 2 .9 11-67 __7 . 2 7.5 7.3 7 .2 7. 1 6 .8 6 .8 6 .6 6 .6 6 .2 6 .4 ft.4 7 .1 7 .8 7 .5 7 .2 6.6 7.1 04 -6 6 05 -6 6 06 -66 07 -66 08 -6 6 09 -6 6 10-66 11-66 6 3 4.4 6 3 5 .9 1 1 .5 641.7P 12-66 0 1 -67 02 -67 0 3 * 6 / Ò 4 -6 Ì 04 -6 7 0 6 -6 7 0 7 -6 7 0 8 -67 0 ^ - 6 7 10-67 P - PRELI MI NARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS T R E M I T I « , I f 6? 7 Ratio Scale Retail Sales Ratio Scale Source: U.S. Department of Commerce Percentages are annual rates of change between periods indicated.They are presented to aid in comparing most recent developments with past "trends.” Latest data plotted: N ovem ber prelim inary Prepared by Federal Reserve Bank of St Louis 8 GROSS NATIONAL PRODUCT IN CUR.REMT DOLLARS TERMINAL QUARTER I N I T I A L QUARTER 0 4 - 6 2 0 1 - 6 3 0 2 - 6 3 0 3 -6 3 0 4 -6 3 0 1 - 6 4 02 -6 4 03-61» 0 4 -6 4 01-6 5 _ 01-63 3.8 02 -63 4 .3 03-63 5 .3 6.1 7.4 04-63 5.9 6 .6 7.5 7.7 01-64 __ 6 , 3 7_._a_ 7.7 7 .9 8. 1 02-64 6.4 7.0 7.5 7.5 7.5 6.8 03-64 6.5 7.0 7.4 7.4 7.4 7.0 3 2 -6 5 BILLI ONS OF DOLLARS ANNUAL RATES 03 -6 5 0 4 - 6 5 0 1 - 6 6 0 2 -6 6 0 3 - 6 6 0 4 - 6 6 0 1 - 6 7 0 2 - 6 7 5 7 7 .4 58 4.2 4.8 594. 7 60 5.8 617.7 62 8.0 63 8.9 64 5. 1 * 0 1 * o 7. 1 ...6 ,2_ 6.5 6.8 6 .7 6.5 6 .0 5.5 3 .9 01-65 6 .8 7. 1 7.5 7 .5 7.5 7.3 7.4 7.6 1 1 .4 66 2.7 675.4 02-65 6.9 7.2 7.5 7.5 7 .5 7.4 7.6 7.7 9.6 7.9 03-65 7. 1 7.U 7 .7 7 .7 7.7 7 .7 7.8 8 .3 9.4 B.4 8.9 04-65 7.4 7.7 8.0 8. 1 8. 1 8. 1 8.4 8.6 9.8 9.3 1 0 .0 11.1 8.4 8.4 8.6 8.9 9.9 9.5 10.1 13 .7 8. 1 8.3 8.5 9.3 8.8 9 .1 ?. 1 8 .2 69 0.0 70 8 . 4 725.9 01-66 7.6 7.9 8.2 8.3 02-66 7.5 7.8 8.0 8. 1 8. 1 03-66 7 .5 7.7 7.9 8.0 8.0 8.0 8. 1 8.3 8 .9 8 .5 8.6 3.5 7.7 6.4 6.7 04-66 7 .4 7.7 7.9 7.9 8.0 7.9 8. 1 8 .2 8.7 8 .3 8.4 3 .3 7 .6 6.7 7.0 7.3 01-67 7. 1 7 .3 7 .5 7 .5 7.5 7 .5 7.5 7.6 8.0 7.5 7 .5 7.2 6.5 5.6 5.4 4.7 2.2 32-67 7.0 7.2 7.3 7.3 7.3 7.2 7.3 7.3 7.6 7 .2 7.1 6.9 6.2 5.4 5.2 4.7 3.4 4.7 03-67 7. 1 7 .3 7 .4 7.4 7 .4 7.3 7.4 7 .4 7.7 7 .4 7.3 1. 1 6.5 5 .9 5.9 5.7 5. 1 6 .6 0 4 -6 2 0 1 - 6 3 0 2 - 6 3 0 3 - 6 3 0 4 - 6 3 0 1 -6 4 0 2 -6 4 03 -6 4 10 .3 73 6 . 7 6 .1 74 8 . 8 76 2. 1 76 6. 3 77 5. 1 8.6 79 1.2 0 4 -6 4 0 1 -6 5 0 2 -6 5 0 3 -6 5 0 4 -6 5 0 1 - 6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6 0 1 - 6 7 0 2 - 6 7 I N I T I A L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS NOVEMBER 1 6 . 1 9 67 _ GROSS NATIONAL PRODUCT IN CONSTANT 1958 DOLLARS ________ COMPOUNDED ANNUAL RATES OF CHANGE____________________________________________________________ BILLIONS OF DOLLARS I N I T I A L QUARTER TERMINAL ANNUAL RATES QUARTER 0 4 - 6 2 0 1 - 6 3 0 2 -6 3 0 3 -6 3 0 4 -6 3 0 1 -6 4 0 2 -6 4 03 -6 4 0 4 -6 4 0 1 -6 5 0 2 -6 5 0 3 -6 5 0 4 -6 5 0 1 -6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6 0 1 - 6 7 0 2 - 6 7 01-63 54 1 .2 2.2 546.0 3.6 02-63 2 .9 03-63 4. 1 5. 1 04-63 4.4 5 .2 6.0 5.4 01-64 4 .9 5.5 6.2 6.0 6 .6 02-64 4.9 5.5 6.0 5 .8 6 .0 5.4 03-64 5.0 5.4 5.8 5 .6 5 .7 5.2 5. 1 04-64 4 .6 4 .9 5. 1 4.9 4.7 4. 1 3 .5 1 .9 55 4. 7 6. 5 56 2. 1 571. 1 578.6 58 5 . 8 5 88.5 01-65 5.1 5.4 5 .7 5.6 5.6 5 .3 5.3 5.4 9. 1 02-65 5. 1 5.4 5.7 5.6 5.6 5.4 5 .4 5 . 5 ..... 7 , 1 5,6 03-65 5.3 5.6 5.9 5 .8 5.8 5 .7 5.8 6.0 7.4 6.5 7 .4 04-65 5 .6 6.0 6 .2 6 .2 6.2 6.2 6 .3 6.6 7.8 7.4 8.3 9.1 01-66 5.7 6. 1 6.3 6.3 6.3 6.3 6 .4 6.7 7.7 7.3 7 .9 3.1 7.1 60 1.5 6 09.7 62 0.7 634.4 64 5 . 4 02-66 5.5 5.8 6.0 5 .9 5.9 5.9 5.9 6.1 6,8 6.3 6.5 6.2 4.8 2**. 03-66 5.4 5 .6 5.8 5.7 5 .7 5 .6 5 .7 5.7 6.3 5.3 5 .9 5 .5 4.3 2.9 3.4 649.3 04-66 5.3 5 .5 5.6 5.6 5.6 5 .5 5.5 5» ü. 6.Û. 5.6 5 .5 5 .2 4 .2 3.3 3.7 01-67 4.9 5. 1 5.2 5. 1 5. 1 5.0 4.9 4.9 5.3 4.8 4 .7 4.3 3.3 2 .4 2 . 4 ..... 1 . 8 02-67 4.8 5.0 5 .0 4 .9 4.9 4 .8 4 .7 4.7 5.0 4.5 4.4 4.0 3.2 2 .4 2.4 2.0 1.1 2.5 6 64.7 03-67 4.8 4.9 5.0 4 .9 4 .9 4 .8 4 .7 4 .7 4.9 4.5 4.4 4.1 3,** 2.* L 2.9 2 .6 2.2 3 .5 .....»1*5 67 2.0 65 4.8 66 1. 1 3 .9 660.7 .2- 0 4 - 6 2 0 1 - 6 3 0 2 - 6 3 0 3 - 6 3 0 4 - 6 3 0 1 - 6 4 0 2 - 6 4 0 3 -6 4 0 4 -6 4 0 1 -6 5 0 2 - 6 5 0 3 - 6 5 OH-65 0 1 - 6 6 0 2 - 6 6 0 3 - 6 6 0 4 - 6 6 0 1 - 6 7 0 2 - 6 7 _ _ _ _ _ _ PREPARED BY FEDERAL RESERVE BANK OF ST. NOVEMBER 16,1967 LOUIS 9 Demand and Production Ratio Scale Billions of Dollars QuarterlyTotals at Annual Rates Seasonally Adjusted Ratio Scale Billions of Dollars [LGNP in current dollars. Source: U.S. Department of Commerce [2.GNP in 1958 dollars. Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recent deve lopments with p a s ftre n d s ." Latest d a ta plotted: 3rd q u a rter Prepared by Federal Reserve Bank of St. Louis 10 CONSUMER- PRICE INDEX * COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH 19 57-59 / IN IT IA L MONTH 03-6 6 OU- 66 05 -6 6 06 -66 07 -6 6 08 -6 6 09 -66 0 4 -6 6 5.5 0 5 -6 6 3.3 1. 1 3 .3 2 .2 0 7 -6 6 3.5 2.9 3 .8 4.4 08 -6 6 3 .9 3.5 U. 3 4 .9 5 .4 0 9 -6 6 3.8 3.5 U. 1 4.3 4.3 3.2 10-66 3.9 3.6 U. 1 4.3 4.3 3.8 4.3 1 1-66 3.5 3.2 3.6 3.7 3 .5 2.8 2 .7 12-66 3.2 3.0 3 .2 3.2 3 .0 2.4 2.1 ... 10-66 11-66 100 12-66 01-67 02-67 03-67 OU-67 05 -6 7 06-67 07 -67 C8-67 09 -6 7 11 2. 5 11 2 . 6 11 2 . 9 3 .2 11 3. 3 11 3.8 114. 1 114.5 114.6 1.0 1.0 114.7 1.1 01 -6 7 2.9 2.6 2.8 2.8 2.5 1.9 1.6 .7 .5 .0 02 -6 7 2.7 2.5 2 .6 2.5 2.3 1. 8 1.5 .8 .7 .5 11 U. 7 114.8 1.1 03 -6 7 2.7 2. U 2 .6 2.5 2.3 1.8 1.6 1.1 1.1 1.1 1.6 2. 1 04 -6 7 2 .7 2.5 2.6 2.6 2.4 2.0 1.8 1.4 1.5 1.6 2.1 2.7 3 .2 05 -6 7 2.8 2.5 2 .7 2.6 2.4 2. 1 2.0 1.7 1.8 1.9 2 .4 2.8 3.2 3 .2 06 -6 7 2.9 2 .7 2 .8 2.8 2.6 2.3 2.2 2 .0 2. 1 2.3 2.8 3 .2 3.5 3.7 U.2 07 -6 7 3.0 2.8 3 .0 2.9 2.8 2.6 2 .5 2 .3 2.5 2.7 3.2 3.6 4 .0 U.2 4 .8 5 .3 08 -6 7 3. 1 2.9 3 .0 3.0 2 .9 2.7 2 .7 2 .5 2 .7 2.9 3.3 3 .7 u.o U. 2 4 .6 4.7 4 .2 C9-67 3.0 2.9 3.0 3.0 2 .9 2.7 2 .6 2.5 2 .6 2.8 3.2 3 .5 3.7 3 .8 3.9 3 .9 3.1 2.1 10-67 3. 1 2.9 3. 1 3.0 3 .0 2.8 2.8 2 .6 2 .8 2.9 3. 3 3 .6 3.8 3 .9 4 .0 3 .9 3.5 3.1 11 5 .0 11 5 .3 11 5. 6 11 6 .0 116.5 116.9 117.1 4.2 117.5 03 -6 6 04--66 05 -66 06-66 07-*66 08--66 09--66 10-66 11-66 12-66 01-67 02--67 03-67 04 -6 7 05-67 06 -6 7 07-6 7 C8-67 09- 6 7 IN IT IA L MONTH * NOT SEASONALLY ADJUSTED PREPARED BY FEDERAL RESERVE RANK OF ST . LOUIS NOVEMBER 30, 1967 WHOLESALE PRICES, ALL COMMODITIES * COMPOUNDED ANNUAL RATES OF CHANGE IN IT IA L MONTH TERMINAL MONTH 03 -6 6 04 - 6 6 05-6 6 06 -66 07 - 6 6 08 - 6 6 09 -6 6 10-66 04 -6 6 1. 1 05 -6 6 1.1 1957-•59 / 100 11-66 12- 66 01-67 02 -6 7 03-67 04 -6 7 05 -67 06-67 C7-67 08-6 7 C9--67 105. 5 1. 1 105.6 06 -6 6 1. 1 1.1 1.1 07 -6 6 2.9 3.5 4 .6 8.3 08-6 6 3.2 3.7 4.6 6.4 4.6 09 -6 6 2.7 3.0 3.5 4.2 2 .3 10-66 1.3 1.3 1.4 1.4 10 5 .7 106.4 .8 - 10 6 . 8 .0 10 6 . 8 3.3 - 6 .5 - 106.2 1 1-66 .7 .7 .6 .5 1.4 - 3.3 - U .9- .3,3- 12-66 .6 -6 -S .4 1 .1 - 2.5 - 3 .3 - 1 .7 - .0 0 1 -6 7 .9 1,7 3 .4 C2-67 .6 .4 .6 2 .2 - .6 - .8 - 2 .8 - 3 .4 - 1 . 4 - ...1 , 7 - 3 ,3 - 3 .9 - 1*1- .8 - .6 5 ,9 .2 .9 2 .3 5.8 5 .8 .6 1.1 2.3 4 .6 4 .0 2.3 .2 .9 2.3 1.1 1.1- ,_2__ ^ *u- 1.3- 1 ,7 - ,0 _ .6 .5 .4 .6 - 1 ,5 ^ 1.8 - .6 - 03 -6 7 .3 .2 .1 .0 1.0 - 1.8 - 2 .1 - 1.1 - 0 4 -6 7 . 1- a 2-_ ,3-- . 5- L i.- 2*1- 2,H - 1 .7 - 05 -6 7 .3 .3 .2 .1 .7 - 1.2 - 1,4 - 0 6 -6 7 .7 .7 .6 .6 . 1- .6 - .6 - 10 5 . 9 105.9 .6 - .2 - .2 - .1 .7 .8 1J6.2 106.0 10 5.7 4.4- 10 5.3 105.8 106.3 07 -6 7 .8 .8 .7 .7 . 1 .3 - .3 - .4 .9 1.0 0 8 -6 7 .5 .4 .4 .3 .3 - .7 - .7 - .1 - .3 .3 09 -6 7 .5 .5 .4 .2 - .5 - .6 - .0 .3 ,4 .0 .3 1.0 2 ,1 1.1 .4 - 1.7 - 1.1 10-67 .4 .4 .3 _ «3 .., 2 - .6 - .6 - .1 - .2 .2 .1 - .1 .7 1.5 .7 .6 - 1.5 - .0 .2 - 10 6.5 4.4 - 106. 1 106.2 1. 1- 106. IP 03 -6 6 04 - 6 6 05-6 6 06 -66 07 - 6 6 08- 6 6 09- 6 6 10-66 11-66 12- 66 01-6 7 02 - 6 7 03 -67 0 4 -6 7 05 -6 7 06-67 07 -6 7 C8-67 09 -6 7 I N IT IA L MONTH * NOT SEASONALLY ADJUSTED P- PRELIMINARY______________ PREPARED BY FEOERAL RE SERVE BANK OF S T . NOVEMBER 3 0 . 1 9 67 L OUI S 11 R atio S c a le 1957-59=100 Prices R a t io S c a l e 1957-59=100 Source: U.S. Department of Labor Percentages are annual rates of change between periods indicated. They a re presented to aid in comparing most recentdevelopments with past "trends." Latest d a ta plotted: O cto ber prelim inary Prepared by Federal Reserve Bank of St. Louis WHOLESALE PRICES - INDUSTRIALS COMMODITIES • ______COMPOUNDED ANNUAL RATES OF CHANGE________ 100 •o 0 1 GO O TERMINAL__________________________________________________________IN I T I A L MONTH_______________________________________________________ 1957-59 / MONTH 03 -6 6 04 -6 6 05-6 6 06-6 6 07 -66 09 -6 6 10-66 1 1-66 12- $6 01 -67 02 -67 03-67 0 4 -6 7 05-6 7 06-6 7 07 -6 7 08 -6 7 0 9 -6 7 10 4.3 0 4 -6 6 3.5 05 -6 6 4. 1 4.7 0 6 -6 6 3.5 3.5 2.3 0 7 -6 6 3.5 3.5 2 .9 0 8 -6 6 2.8 2.6 1.9 1.7 .0 09 -6 6 2.3 2 .1 1.4 1.2 .0 .0 10-66 2.2 1.9 1.4 1.2 .4 .6 1.1 11-66 2.2 2.0 1.5 1 .4 .9 1.1 1.7 104.7 104.9 105.2 3 .5 105.2 105.2 10 5.3 2.3 10 5.5 10 5.5 12 -66 1.9 1 .7 1.3 1.1 .7 .9 1.1 1.1 .0 01 -6 7 2. 1 1.9 1.6 1 .5 1. 1 1.4 1.7 1.9 1.7 3 .5 0 2 -6 7 2. 1 2.0 1.7 1 .6 1.3 1.5 1.8 2 .0 1.9 2. 9 2 .3 0 3 -6 7 1-9 1.8 1.5 1.4 1.1 1.3 1.5 1.6 1.4 1 1.1 .0 04 -6 7 1.8 1.6 1.4 1.3 1.0 1.1 1.3 1.3 1.1 1,4 .8 .0 .0 05 -6 7 1.7 1.5 1.2 1.1 .9 1.0 1.1 1.1 1.0 1.1 .6 .0 ,0 .0 0 6 -6 7 1.5 1.4 1.2 1.1 .8 .9 1.0 1.0 .8 1• 0 .5 .0 .0 .0 0 7 -6 7 1.4 1 .3 1. 1 1 .0 .8 .8 .9 .9 .7 •9 .4 .0 .0 .0 .0 .0 08 -6 7 1.6 1.4 1.2 1.1 1.0 1.0 1.1 1.1 1.0 1,1 .8 ,6 .7 .9 1.1 1 .7 3.4 09 -6 7 1.6 1.5 1.3 1 .2 1.1 1.1 1.2 1.2 1.1 1*3 1.0 .8 .9 1.1 1.4 1.9 2 .9 2 .3 10-67 1 .7 1. 6 1.4 1.4 1.2 1 .3 1.4 1.4 1.3 1.5 1.3 1 .1 . 2,3 3.1 2.? 10 5.8 106.0 10 6.0 10 6.0 . 106.0 .0 1,3 ....1*5... .....-USL 10 6.0 106.3 10 6.5 3 ,4 1 0 6 . 8P 03 -6 6 0 4 -6 6 05 -6 6 0 6 -6 6 0 7 -6 6 0 8 -6 6 09 -66 10-66 11-66 12-66 01-6 7 02 -6 7 03 -67 0 4 -6 7 05 -6 7 06-67 07 -6 7 08 -6 7 09 -6 7 I N IT IA L MONTH * NOT SEASONALLY ADJUSTED P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS WHOLESALE PRICES - FARM PRODUCTS,AND PROCESSED FOODS AND FEEDS COMPOUNDED ANNUAL RATES OF CHANGE IN I T I A L MONTH TERMINAL MONTH 03 -6 6 0 4 -6 6 05 -6 6 iD 6-66 10 7-66 138—66 09 -6 6 10-66 0 4 -6 6 7 .4 - 05 -6 6. 8 .0 - 8 ,5 - 0 6 -6 6 6- 1- 5.4 - OJL-66 1 .4 4 .5 11,7 27,5 0 8 -6 6 4 .2 7.4 13.2 21,8 16 ,4 0 9 -6 6 3.9 6.3 10. 3 14 .9 9 .1 .2 2.0 3. 1 3 .9 - 12.7- 2 5 ,5 - .9 - 10-66 19 57-59 / 108.7 2 .2 - 10 7.7 10 9.9 11 1.3 2.2 11 1.5 10 8.8 .3* 1 - ...... 2 , 5 - 1.5 - 1.3- 7 . 5 - . 1J u l - 2 1 * 5 - 1 7 . 2 - 12-66 3 .3 - 1.9 - 1.9 - 6 . 9 - 1 1 .9- 1 6 .1 - 11 .0- ? ml ~ 01 -6 7 2 ,6 - 2,1 - 1.2- 1.1- 5 ,2 - 9 . 0 - _ L l* 6 - 6 .5 - 02 -6 7 3 .7 - 3 .3 - 2 ,7 - 2,8 - 6,5 - 9 .8 - 8 .3 - 0 3 -6 7 H .H - 4 .1 - 3 .7 - 1 .8 - 1^.1- LlL-lr 1 2 . 0 - .... 0 4 -6 7 5 . 1- 4 ,9 - 4 .5 - 4.8 - 7 .8 - 05 -6 7 3 ,5 - 3 .1 - 2 ,7 - 2 * lr .5*3=. 7 .5 - 06 -6 7 1 .9 - 1.5- .9 - .8 - 3 .1 - 4 .8 - L2*Q- 107. 1 H .4.6 - 106.7 3 * 1» 5 ,1 - ...li.5 - 10 7.0 13 .6- 6 .8 - 7 .6 - 12 .7- 1 1 .8 - 9 .0 - 12 ,8- 12,4- 8 .6 - 5 .9 - 3 .9 - 3 .8 - 5 .5 - 5 .6 - 2 .7 - .5 - -2 2 .3 20.2 3.2 8.7 21.4 2 2 .6 3,7 1 .4 - 1.0 - .5 - ,3- 2 .4 - 3 , 9 - . Ü* 5 - 1*8- .3 1*Q ,6 2.4 - 2 .0 - 2 .0 - 4 .0 - 5 .5 - 4 .0 - 2 .4 - 2.1 - 2 .9 - U 9- 3 .6 - „.5 x 0 - 5 .6 - 3,5 - ? t0 - 1 ,7 - 3. 1- 2 .8 - 2 .5 - 2.5 - 4.2 - 6 ,1 - 4 .3 - 3 .1 - . 1 *1 - 2 t Z- 5 .6 - 10 3.4 2 .6 - 2 .7 - 6 .1 - 10 4.6 1 2 .9 - .4 - 08 -6 7 ..... 10 5.7 9 * 7 -. . 8 * 1 - 1 0 .5 - ._L2*1- 07 -6 7 10-67 100 111-66 12-66 01 -6 7 02 -6 7 03-67 0 4 -6 7 05 -6 7 06 -6 7 0 7 -6 7 08 -6 7 0 9 -6 7 10 7.9 11-66 09 -6 7 • 105. 0 106. 8 8.0 1 6 .0 13.9 .9 - 1.4 5.3 .8 2 .4 - ,6 - 1.3 4.5 .9 5.5- 10.7- 1.1 105. 3 L ,6 - 2 *3 - 1.4 2.0-- 7.4 - 11 .4- 6.1*- 1 2 . 9 - 104. IP .8 - 5.8 10 7.3 8 .7 - 2 1 .1 - 105. 2 03 -6 6 0 4 -66 05 -6 6 06 -66 07 -66 08 -66 09-6 6 10-66 11-66 12-66 01 -67 02 -6 7 03-67 04 -6 7 05-6 7 06 -67 07 -67 C8-67 09 -6 7 I N IT IA L MONTH * NOT SEASONALLY ADJUSTED P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . NOVEMBER 3 0 , 1 9 6 7 L OUI S . 13 General Price Index Ratio Scale 1958 = 100 Ratio Scale 1958=100 Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recent developments with past “trends!' Latest data plotted: 3rd qu arter Prepared by Federal ReserveBank ofSt. Louis IMPLICIT PRICE DEFLATOR FOR GROSS NKTIONAL PRODUCT , unr uuiluti/ HnnuHL nni kj iil---W'.TfVUU------TERMINAL QUARTER 1958 / 100 I NITIAL QUARTER 01-66 04-62 01-63 02-63 03-63 04-63 01-64 02-64 03-64 04-64 01-65 02-65 03-65 04-65 1.5 02-63 1.3 03-63 1.1 .9 .8 04-63 1.4 1.4 1.5 2.3 1. 1 107.0 107.2 1.4 1.4 1.5 1.9 1.5 1.4 1.4 1.4 1.3 1.1 03-61* 1.5 1.5 1.6 1.7 04-64 1.5 1.7 1.7 01-65 1.6 1.6 1.6 1.6 1.6 1.6 1.8 1.8 1.7 1.9 1.8 1.9 1.9 1.9 1.8 1.8 o Ïtr 107.8 02-64 1.9 2.1 2.3 2.3 2.3 2.3 1.8 1.7 1.7 1.9 04-65 1.7 1.7 1.7 1,9 01-66 02-66 1.8 1.8 1.9 1.9 03-66 2.0 2. 1 2. 1 2.1 2.2 2.0 2.1 2. 1 2.1 1.8 2.0 2.1 2.2 2.2 2.2 2.0 2.1 2.2 2.1 2,2 2.3 2 .2 2,3 2.0 2.1 109.6 1.9 1.7 1.7 03-67 109. 1 1.9 1.7 03-65 02-67 1.8 1,8 2.0 2.2 2.2 2.0 2.1 2. 1 2.0 2.0 2.1 1.9 02-65 01-67 108.2 108.5 2.2 2,2 2.0 1.9 04-66 02-66 03-66 04-66 01-67 02-67 106.7 01-63 110.2 110.8 111.2 2.2 1.8 1.5 1.6 1.8 2,1 1.8 2.1 2.1 2.4 2.9 2.3 2.4 2.4 2.4 2.8 3. 3 3. 6 2.4 2.4 2.5 2.5 2.6 2.9 3.2 3. 4 3.2 2.3 2.5 2.5 2 m 6. 2.6 2.7 2.9 3.2 3. 3 3.2 3.2 2.3 2.4 2.5 2.5 2.6 2.6 2.7 2.9 3.1 3.1 3.0 2.3 2.3 2.4 2.5 2.5 2.5 2.6 2.8 2.9 . 2. 9 2.7 2.8 2.6 2. 5 2. 3 2.4 2.4 2.4 2.5 2.6 2.6 2.7 2.7 2.9 3.0 3.1 3.0 2.9 2.8 1.9 111.7 04-62 01-63 02-63 03-63 04-63 01-64 02-64 03-64 04-64 01-65 02-65 03*65 0*1-65 112.5 113.5 01-66 02-66 114.4 115. 3 2.3 116.0 2.1 1.0 116.6 3. 8 117.7 03-66 04-66 01-67 02-67 I NI TIAL QUARTER PREPARED BY FEOERAL RESERVE BANK OF S T . LOUIS NOVEMBER 16.1967
@FedFRASER