Full text of National Economic Trends : December 1973
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
nnnonnL economic PREPARED M ONTH E N D IN G : BY Deceiver 31, 1973 FEDERAL RESERVE B AN K treiids OF ST. LOUIS RELEASED: December 26, 1973 Aggregate demand continues to grow rapidly, but as constraints on production have become increasingly more severe, the growth in demand has resulted in a sharp acceleration in the rate of inflation« Growth of output has been limited by the combination of general capacity constraints associated with intensive resource utilization and the effect of controls on the availability of raw materials at current prices. This latter effect is being mitigated somewhat as the Government has removed price controls from selected industries,. The Middle East oil embargo has introduced another factor, however, which further restricts productive capacity. Since February, industrial production has grown about one-third as fast as in the previous year. There has been some reduction of sales growth in specific sectors of the economy. Growth of retail sales has slowed since March, after rising at a very rapid rate in 1971 and 1972. This slowdown primarily reflects reduced sales of consumer durables, notably automobiles, but is not necessarily indicative of total demand pressures. As growth of retail sales has slowed, the inventory-sales ratio has tended to level off at a historically low level. This ratio declined dramatically in 1971 and 1972. Wholesale prices of all commodities rose rapidly in November, as large gains in wholesale prices of industrial commodities overshadowed the decline in the wholesale prices of farm products and processed foods and feeds. Wholesale prices in the farm sector have fallen in each of the past three months after rising rapidly from October 1972 to August 1973. Wholesale prices of meats, poultry, and fish have fallen substantially in the last three months and are now at the same level that was recorded in June 1973, but are still 41 percent higher than the levels recorded two years ago. Wholesale prices of industrial commodities have risen at an accelerated rate since the beginning of the year. The substantial increase in the index of wholesale prices of industrial commodities in November primarily reflects higher prices for fuels. 2 .CWQ» TFRMINAL MONTH f * * n u $ T » î â L PJtnnuCTfON A N N U ê i * 1 1 « . H P CHAI Nfif INITIAL 5-72 ^-72 6-72 7-72 8-72 9-72 10-7 2 11-72 IJ>-72 1-71 ....V I 2 .. 6,S 6-7? 6.3 7 - Z 2 - .. 6,9 7.1 7.6 *-72 9,4 .. SLl I 10.4 13.3 JbJl— 9.6 LO.4 11.7 13.8 14.3 10.? 1.1*1 13.1 15.0 15.9 17.6 11-T2 10. « 11.6 12.6 13.9 14.1 14.Q 10.5 12-72 n«ft 11.2 12.1 13.0 12.9 12.4 10.0 9.4 1-73 10.7 11.3 12.0 12.7 12.6 12.2 10 m 5 10.4 11.5 ?-73 10.9 11.4 12.0 12.7 12.6 12.2 10.9 11.1 12.0 12.4 ? “7 3 10.2 10.3 11.0 11.4 11.2 10.6 9.3 9.0 8.9 7.6 4-73 9.6 9.9 10^1 10.6 10.2 9.7 8.4 8.0 7.6 6.4 S - 73 9.5 9.9 .10.^1 10.0 9.5 8.3 8.0 7.7 6.A . _ 10-TA ........ ..... 1967 MONTH 2-73 3-73 4-73 5-73 6-73 7-73 fl-73 9-73 » 100 1Q-73 ______ 1 1 1 * * - ... — -_A** 114.4 -111*1 ................ ... ,.....u a - 2 ..... __ ____ 12ÍL..2 .. . _______ 1 2 1 t l ™ -.. 9.7 9.2 8.2 7.8 9.9 10.1 9. ^ 9.4 8.5 8.2 0-73 B.7 8.8 9.0 9.1 8.J 8.3 7.4 7.0 9-73 4.3 8.5 4.6 8.7 8.3 7.8 7.£ 6.6 10-73 5.0 a.i 8.2 8.2 7.8 7.4 6.5 6.2 5.9 5.3 ! 1-73 7.6 7.7 7.8 7.8 7.4 7.0 6.2 5.8 5.5 4.9 4-72 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 5.0 6.0 _ V Î V v + 4 . 1 % 5.4 8.I 6.5 7.5 5.7 INITIAI T. S , 8.6 9.0 5.1 5.5 5.9 5.2 4.4 4.8 5.1 5.3 4.4 3.9 0.5 2-73 . 1 2 4 . 2 __ ILflS. ____ L2A*7 ______ 1 2A.1 _ -1 . V S . _ 4.7 4.1 3.4 1.0 2.4 1 . 9 ^ 4.3 4.3 3.7 3.1 1.2 2-2 1.9 3-73 4-73 5-73 6-73 7-73 8-73 9-73 P M * A ft *0 8V _ . ___ 12A.fi .. .. . - 1 2 l * ñ P t . 9\ 12Ï.2P 10-73 MONTH P- P U f t l M T N â R Y O f C F M ' F * 1?, FFOffÄAl 1973 ftFSERVE BANK 0»* S T . Í 10. 0 9.6 123.î ______ 1 2 à * L . .. . 4.0s < 9.5 9. * .. „..-.. .1.21.4..... 1' 3 . 0 s *s «>.3 -L22.1 ir 6— 73 . 7-71 ... 10UTS 3 INDUSTRIAL RATIO PRODUCTION RATIO SCALE 1967=100 SEASONALLY ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERI ODS LATEST DATA PLOTTED« SCALE 1967=100 INDICATED. NOVEMBER P R E L I M I N A R Y PREPARED 8Y FEDERAL RESERVE BANK OF S T . LOUIS 4 t c t a l civit t s k e k f l c y m e n t C Q M P C U N D C U A N N U A L R A T E S CF C H A N G E T E W * INA L WCN Th INITIAL 4-72 5-72 6-72 7-72 5-7 2 2.7 6-72 4.1 4.4 7-72 2.9 2.4 C.4 6-72 3.2 3.C 2.3 4.2 9 - 12 3.1 3.C 2.5 3.5 8-72 9-72 10-72 MCNTH 1-73 1 1 - / 2 •12 - / 2 ¿-73 THOUSANDS OF PER S O N S 3-73 4-7 3 5-73 6-73 7-73 8-73 9-73 10-73 81,458 81,752 81,782 82,061 2.9 82,256 AQ-12 ¿•9 ¿.a 2.4 3.C 2.5 2.1 J L i r ?< ¿.0 2 •6,1 2.3 *.e 2.3 2.C 1.9 12-72 2.9 ¿.b 2.5 3.C 2.7 2.6 2.6 3.6 1-13 2.2 2.C 1.7 i;9 1.5 1.1 C. 8 C. 2 -3.2 2-13 2.4 2.7 2.5 2.8 2.6 2.6 2.7 2.9 2.5 8.6 3-73 3.t 3 .t 3.5 3.9 3.8 4.C 4.4 5.C 5.5 1C.1 11.6 4-73 2.3 2.3 2.2 3.5 2.4 3.5 3.7 4.1 4.2 6.6 5.8 5- ?3 3.2 2.2 2.C 2.2 2.2 3.2 3.4 3.7 3.6 5.4 4.4 1.0 1.5 84.024 4-73 3. t 3 .6 2.6 3,9 3.6 3.9 4.2 4.5 4.6 6.3 5.7 3.8 5.5 9.7 84,674 ¿..3 2.2 0 t 2.4 2.4 3.6 3.t 3 . fa 5.1 4.3 2.6 3.4 4.3 -C.8 2 .£ 3.C 2.S 2.9 2.C 3. I 3 aC 3.9 3.2 1.6 1.9 2.C -1.7 -2.5 3.4 3.5 3.4 3.e 3.8 4.7 4.2 2.C 3.5 4.C 2.2 3.7 7-73 82,397 82,525 82*780 82,555 83,127 8 3 , 8 8 9 _________ 0.4 83.917 . jl-/2 .2»0 2.9 s-.u 3.4 3.4 '4. R 2 .t 2,6 3 .£ 3.8 3.9 4. C 4.2 4.2 5.1 4.7 3.7 4.3 4.8 3.7 3.4 3.4 3.4 3.« 2.5 3.6 3.7 3.6 3.6 4.6 4.1 3.2 3.6 4.0 2.9 4-/2 5-72 6-72 7-72 8-72 9-72 10-72 ll-?2 12-72 1-73 ¿-73 3-7* 4-73 -$_73 6-73 1C-72 11-73 84,614 84.434 1C.3 85,127 5.2 9.3 6.3 85,695 3.9 6.1 4.C -C.l 7-73 8-73 9-73 10-73 85.688 INITIAL MCNTH PRCPAAfcO Ay F E D E R A L RfcSCRVfc B A N K UF ST. L O U I S C E C E M 8ER 7, 1973 PAYROLL EPPLCYMENT C C P P C U N O E O A N N U A L H A T E S OF CHANGfc THOUSANOS OF P E R S C N S INITIAL MCNTh TERMINAL PCNTI4-/2 5- 7 2 t-72 7-/2 6-72 9-7 S 10- /2 11-72. 1 2 - 7 2 ' *-73 2-73 3-73 4-73 5,,3 6-7? 4,,i 2.9 1*12 iff 1.2 -L . 2 3, 2./ * .L 5.4 9- 1 2 ■ ) 3.1 3.1 4 . fc ^ .2 ■ ■ j,ift 3.5 3-7 5.C 4.8 5.3 i9 J .6 3.e 4. fc 4.6 4.7 12- 72 3,,7 3.5 2. 6 4.4 4.1 4.1 3. 5 2.7 4.1 3.7 3.4 *. 1 5.9 7.7 ifi 3 .L 3.7 4. 3 A .2 4 .L 4.2 4. fc 4.7 4.8 4. 7 4.S 3-73 t| 4 .L 4.1 4.£ 4.« 4.5 4.4 4.4 5.C 5 .5 2. 2 4 .C 4.4 4.3 4.3 4.2 4.2 4.5 4.7 3.2 .2.jkJL„. 3.3 3.J 3.3 3 .3 3.4 2 .3 2.L .W S- 7 * A .n 3 . ti 2.9 4 .4 4.2 4.2 4. 1 4. 1 4.3 4 .i £_ J 1 1 •20 2.9 4.2 4.1 4.1 4. C 4.C 4.2 4.Z 7« 7 4 •a. A 3 .* 3 .5 3.9 3.7 3.7 2.5 3.4 J.5 3._4_ . Sl l S— Vj. r 3.7 3.7 3.5 3.« 2.9 _ 3.5- 2. 8 75,105 .... i x L ... ¿.6- 3,3 Z 5 . W , l.l.-iU9L 2.3 1.8 75,747 4.1 c. 3.2 i * 2 . fc 3.7 3. if 3.5 3.5 1.5 3 ^ 2.9 2. 6 2.3 3,8 .7 2.6 2.7 3.9 3 .£ 3.6 2.7 3.6 3.7 3.6 3.1 3.1 3,1 3,1 i±Su 4,2 4.2 5.1 3.6---------------------: 3.6 3.7 3.6 3,2 -- 3.1 3.1 3,1 3a£ 4 .C 3.9 4 .1 2-? 3 3-7 3 4-7 3 5-73 6-73 7 -73 8-73 3 ■ i ■ j * 3 _C 3 . fl 3-7 I.---- -------JJ*--«-Li------------------4- 12 5-7 2 6- 7 2 7-72 0-72 9- 7 2 1 C - / 2 11-72 12-7 2 1-73 j .715 74,914 . 3 .4 a — S b l J --- __i- .. ..2jl1L___ .... 75.1^61 76.275P 3.2 76,*?*P 9-73 lU-f3 I N ITIAL M C N T H P- P R E L I M I N A R Y . ... 74jrfC*. J.71 ’.t .. - 7 A t t t 2 ... 1-73 2.9 I L t 7 C5 7*f6?4 73.835 4.2 4.1 41 9-73 10-73 -..11« 5 M 1C - 7 P ir- 7 ^ 8— 7 i 73,26B 11— 7? 7i ,.-.ofl_r.¿4,--- 7-7 3 73,916 *•12 .C 6-73 72.534 «-7? 4-73 5-73 P R E P A R E D BY F E D E R A L R E S E R V E D E C E M B E R 7, 1973 tiANK OF ST. LOUIS 5 EMPLOYMENT RATIO SCALE MILLIONS OF RATIO PERSONS SEASONALLY MILLIONS ADJUSTED SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P ER I ODS LATEST DATA P LO TT E D: OF SCALE PERSONS U . S . D E P A R T M E N T OF LABOR INDICATED. NOVEMBER P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 6 UNEMPLOYMENT 1965 1966 1967 1968 1969 RATES* 1970 1971 SOURCE: * PERCENT OF C I V I L I A N LABOR FORCE LATEST DATA P L O T T ED : U .S. 1972 1973 DEPARTMENT OF LABOR I N 6R0UP NOVEMBER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS I N V E N T O R I E S COMPARED W I T H MONTHLY S A L E S * MANUFACTURING AND TRADE 1 .72 1 .68 64 1 .60 1 cc I . sJ U 1 .52 1 .48 1 .44 1 .40 1 .36 1959 * RAT I OS 19 6 0 1961 1962 1963 BASED ON S E A S O N A L L Y 1964 ADJUSTED S H A D E D A R E A S R E P R E S E N T P E R I O D S OF AS D E F I N E D BY T H E N A T I O N A L B U R E A U LATEST DATA PLOTTED: OCTOBER 1965 1966 1967 1968 DATA. 1969 SOURCE: 1970 1971 U . S . D E P A R TMENT 1972 OF 1973 COMMERCE BUSINESS RECESSIONS OF E C O N O M I C R E S E A R C H . PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 8 RETAIL COMPOUNDED ANNUAL TE*NINAL INITIAL nwwTH 4-72 8-72 SALES HATES 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 CF CHANGE MIlLIttNS CF DCllARS MClNTH 1-73 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 3 1 . 8 ______________ 6-72 9.0 37 » 141 -9,8 36,822 7-72 12*0 3.3 18*3 8-72 14.5 9 .2 2C.2 22.1 9-72 9 .9 5,0 10.4 6.7 - 6 .8 37,342 37,969 37,746 10-72 16.1 l 3 *? 19.8 20.3 19.4 11-72 11.7 8.6 12.8 11.4 8.1 12-72 13.2 10.7 14.4 13.9 11.9 18.9 4 .9 39,106 5*f 9 38,713 16.4 -1 1 .4 39,417 24.1 W 3 16.5 1 4 .7 18*8 18.8 18,2 25.4 17,4 35.2 47.2 2-73 14.4 1 5 .C l!« 5 18.6 1 8 .C 23.7 17.3 28.8 31.2 17.0 3-T.ll 17.2 15.8 19.1 19.2 18.8 23.7 18.5 27.5 28.6 20.3 40,707 41,242 41,979 23.7 /■ x V - 0 . 8 - 20.5 41,185 4-73 13,3 11,9 14.4 14.C 13.0 16.1 1C.9 16.C 14.1 4.8 5-73 13.8 I2t 4 14.6 14.3 13.4 16.3 11.8 16.2 14.7 7.8 4 .9 -3.4 17.3 4-73 11.4 10.C 11.8 11.3 10.2 12.3 8.1 11.2 9.1 2.8 -0.5 - 7 .4 -0.1 7-71 14.0 12.9 14.8 10.4 9.2 5.8 16.4 16.0 8-73 12.3 11.1 9-73 11.8 1C.7 14.6 13.9 12.8 12.4 12.2 11.8 41,735 -14.9 41,179 j . i lor t 4 . I % 42,778 58.0 16.2 15.1 1C. 1 12.8 11.4 7.1 5.5 2.2 8.8 6.2 1 8 . 5 T 1-V.P. 9.6 11.9 10.6 6.8 5.4 2.6 8.C 5.8 13.7 -3.5 4.7 9.4 7.9 14.5 2.9 10.6 8.2 6.8 11.7 2.5 7.4 .8 .8 4-73 5-73 6-73 7-73 8-73 9-73 16.2 12.7 11.6 13.4 11.0 12.7 10-73 12.1 11.c 12.5 12.1 U .4 13.0 1C.2 12.4 11.3 7.9 6.6 4.5 11-73 11.5 10.5 11.8 11.4 1 C .7 12.1 9.5 11,4 10.3 7.2 6.1 r r n L _ J 4-72 5-72 6-72 7-7 2 8-72 9-72 10-72 11-72 12-72 1-73 INITIAL 3-73 2-73 42,363 42,525 4 3 ,081P 1 6 . 9 ^ Sss w .. | 1.3 \ 43 ,127E 10-73 MCNTH P- P R E L I MINARY E- ESTIMATED PREPARED DECEMBER CCMPCUNOED INITIAL TERMINAL MCNTH 5-72 b-12 7-72 «-72 9 - 7 2 1 C - 7 2 11 - 7 2 12-72 1-73 RfcSfcRVE B A N K CHANGE OF 2-73 ST. LOUIS ~ m r n r * 5 -C F ~ nCLLARS MCNTH 3-73 4-73 m 1 i.A 4-72 5-72 PfcRSCNAL I N C O M E ANN U A L RA T E S OF BY FEDERAL 12, 1 9 7 3 6-73 7-73 b - 13 9-13 “ÂTsJ jIJâ l ‘ WTF5 “ 10-73 921.1 5 .5 927.C 6-72 2.2 -C.9 7-72 S. l 4. 9 11.1 8 -72 6.9 7.4 11.8 944.4 12.5 9 5 1 . 3 _________ 9-72 7.3 7 .8 1C.9 1C.8 9. 1 1 C -72 9.6 10.5 13.5 14.3 15.2 21*7 11-72 10.2 11.C 13.6 14.2 14.6 17.8 14. C 1 2 -72 9. 9 10.6 12.6 12.9 13.C 14.3 10. 8 7 .6 967.C 977.6 983.6 989.1 6.9 I- ti 9.6 IC.l 11. 8 11.9 11 . 7 12.4 9.5 7.3 2-13 9.7 10.1 11.6 11.7 11.5 12.C 9.7 8.4 . J t ' f 10.5 3 -73 9.4 9.9 11.1 11.1 1 C.9 11.2 9.2 8.1 8.3 8.9 7.3 4-73 9.5 9.9 11.C 11.C 1C. 9 1 1.1 9.4 8.6 8 .8 9.4 6.9 1C.4 5-73 9.5 9.6 1C.8 IC.E 1C.6 ic.e _S3 £.6 8 .8 9.2 a.e 9 .6 6 .6 é- 73 9.5 9. 8 1C.7 1C. 7 1C. 5 1C.7 _ 8.7 8.9 9.3 9.0 9 .6 9.2 9.7 S.4 997.4 1 »003.3 1,011.6 1,018.7 1,026.6 1,035.6 7-73 9,6 9 .9 ic.e IC.7 1C.6 10.7 9.6 9,C 9.2 9.6 9.4 10.C 9.8 1C.4 11.0 £-73 9.9 1C.2 11.c 11.C 1C .9 11.i ICjC 9.6 9.9 1C.3 10.3 IC.9 11.C 11.7 12. 7 14.4 1C.C 1C.3 1 C.7 1C. 7 11. 3 11.5 12.2 13.0 14.0 9-72 10.1 10.4 11.2 11.2 11.1 11.3 _ 1Ç.4. 1C-7 3 IC.l 1C .4 11.2 11.2 11.1 11.2 11-73 10.1 10.4 11.1 _ J U ! _ 4-/2 5- 7 2 6-72 7-72 1 1 . C _!i.2_ 8-72 1C.4 1,047.3 13 . 6 1,058.5 IC . l 1C. 3 IC.l 10.7 11.2 11. 4 II.9 12.4 12.9 12. 1 10. 7 „10,1. 10. 3 10.7 10. 7 11. 1 11. 2 1 1.6 12.0 12.2 11. 5 10.5 1C.2 4-7* "5-T Ï " 6-73 7-73 8-73 9-73 10-73 9 - 7 2 1 0 - 7 2 1 1 - 7 2 IJ Z J J - 1 - 7 3 “T - 7 T " " 3 - 7 3 INITIAL 1,067.5 1 , 0 7 6 . 2 P ______ MCNTH P- P R E L I M I N A R Y __ 935.2 ~ b â & k ~ ü f “s DECEMBER 19, 1973 t . cours“ RETAIL SALES RATI O SCALE BI LLI ONS 45 RATI O seasonally adjusted OF DOLLARS BI LLI ONS / 40 SCALE OF DOLLARS +4.1Z 45 ( 43.1 40 +13.4y J 35 35 +3.5X 30 30 +13 r *9.32/ 25 £ § t 99, ¡S 25 ^ 9 * 20 t 1965 1966 19 6 7 § 1 % t 1968 t 1969 19 7 0 1971 SO URCE: P E R C E N T A G E S ARE A N N U A L LATEST DATA PL O TT ED « R A T E S OF C H ANGE FOR P E R I O D S OC T OB E R P R E L I M I N A R Y , U.S . N O VEM BER A D V A N C E PERSONAL MONTHLY SCALE T RI LLI ONS OF DOLLARS * t t 20 19 73 D E P A R T M E N T OF COMMERCE IN D IC ATED . E S T IM A T E P R E P A R E D BY F E D E R A L RATI O 19 7 2 * RES ERVE B A N K OF S T . LO U IS I NCOME T O T A L S AT A N N U A L RATES SEASONALLY ADJUSTED RATI O TRI LL IONS SCALE OF DOLLARS 1 .2 1.1 1 .0 0.9 0.8 0. 0.7 0. 0.6 0. 0.5 0. 4 1965 1966 1967 1968 1969 1970 SOURCE: PER CE NT AG ES ARE A N N U A L R A T E S L A T E S T DA T A P L O T T E D . OF C H ANGE FOR P E R I O D S 1971 U .S . 19 7 2 DEPARTM ENT 19 7 3 OF COMMERCE IN D IC ATED . N O VEM BER P R E L I M I N A R Y PREPARED BY F E D E R A L R E S E R V E B A N K OF S T . LO U IS 10 G R O S S N A T I O N A L P R O D U C T IN C U R R E N T D O L L A R S _____C O M P O U N D E D A N N U A L R AÎJES.QF C H A N G E _______ QUARTER ANNUAL RATES 4 — 68 1-69 2-69 3-69 4-69 7.8 2-69 7. 6 7.5 3-69 7.8 7.8 8.1 4-69 6.6 6.2 5.6 6.1 5.7 5.1 3.6 4. 1 1 o 1-70 2-70 3-70 4-70 I 5. 1 4.1 4.6 5. 1 Sv 5.5 4.9 5.4 6.1 7.1 5. 2 4.9 4.2 4. 5 4.7 4.4 1.8 6.4 6.3 6.5 7.2 .2 15.1 7.9 8. 1 11.4 7.6 7. 7 9.8 6 . 6 ____6 . 5 ____6 * 2 ____6 . 8 _ 6 . 7___ 6 . 6 ____ 6 .5 6.3 6.7 _ 6.7 6.5 6.9 1-72 7.1 2-72 7 . 4 ____ 7 .4 _ 3-72 4-72 1-73 2-73 970.6 5. 6 6.6 7.3 7.0 7.3 7.3 7.7 987.4 991.8 1,027.2 1,046.9 7.5 7.7 8.1 8.1 8. 5 8.2 8.5 8.7 9.7 8.5 8.8 9.0 10.0 9.2 _9.0„ 9.4 9.6 10.5 10.0 8.7 7.5 7.5 7.7 7.7 7.7 _l=73 8.2 8j*2 8 .2 2-73 8.3 8.3 8.3 8.3 8.7 9 .1 9.4 9.6 10.5 3-73 8.4 8.4 8.5 8.5 8.9 9.2 9.5 9.7 10.5 10.0 4-68 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 7.7 8.1 10.0% 7.2 _4-72 3=72. 2-72 958.5 5.8 6.6 1-72 948.9 5.9 2-_7l_ 4-71 > 3.1 6.1 1= 11- 3-71 923.5 3-70 5.6 2-71 941.7 2-70 4-70 1-71 907.0 1-69 _3=7_L_ B I L L I O N S OF 1,063.5 1,084»2 7.3 8.0 9.4 10.9 9.1 10.0 11.0 l,U2.5 1.142.4 11.2 1 . 1 6 6 .5 9.0 9.7 10.2 9.5 10.1 10.6 10.5 10.2 11.7 r \ 1 0 . 3 ___1 0 . 9 11.5 11.7 11.9 13.5 15.2 10.2 10.8 11.2 11.3 11.3 12.2 12.5 10.3 10.8 11.1 11. 2 11.2 11.8 11.9 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1,304.5 INITIAL QUARTER P R E P A R E O BY F E O E R A L N O V E M B E R 1 6 , 1973 RESERVE B A N K O F S T. L O U I S G R O S S N A T I O N A L P R O D U C T IN C O N S T A N T 1 9 5 8 D O L L A R S _________C QMP jQÜNPfcP A N N U A L r a T £5...O F C H A N G E ___________ QUARTER ___________ 4 - 6 8 .1 - 6 9 1-69 2-J l9 3-69 4-69 1-70 2-70 3-70 .INI T I A I .QU A R T E R ANNUAL RATES 4-70 1-7 1 2-71 3-71 8 I L L I 0 N S OF ___D O L L A R S 4-71 1-72 2-72 3-72 4-72 1-73 2 - 7 3 _________________ 3.3 4-68 722.4 1-69 2-69 3- 6 9 4-69 1-70 2-70 3-70 4-70 1-71 IN IT IA I 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 QUARTtR P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F ST. L G U I S n DEMAND RATIO SCALE TRILLIONS QUARTERLY TOTALS AT ANNUAL RATIO RATES 1.3 1.3 1 . 2 1 . 2 1« 1 1.1 1.0 1.0 0 .9 0 .9 0.8 0.8 0 .7 0 .7 0.6 0.6 0 .5 0 .5 1966 1967 SEASONALLY 1968 ADJUSTED 1969 I N CURRENT D OLLA R S. 1970 SOURCE: TRILLIONS SCALE 1.4 1965 DOLLARS PRODUCTION OF D O L L A R S 1.4 U.6NP OF AND 1971 U .S . 1972 1973 DEPARTMENT OF COMMERCE 12.6NP I N 1 9 5 8 D OLLA R S. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S L A TE S T DATA P L O T TE D : INDICATED. 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 12 C O M P E N S A T I O N PER M A N - H O U R , TERMINAL QUARTER 1 9 6 7 » 100 INI T I A L Q U A R T E R 4-68 1-69 2 -o9 3-69 4-69 1-70 1 -69 5.9 2-69 7.0 8.1 3-6 9 7.0 7.6 7.2 4-69 7.8 8.4 8.5 9.9 1-70 6.6 6 .3 6.3 5.9 2.0 2 -70 6.8 7.0 6.7 6.6 4.9 7.9 2-7 0 3-7C 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-7 3 2-73 112.5 114.7 116.7 119.5 120.1 7.1 7.3 7.1 7.1 6.2 8.3 8.8 1 122.4 3- 7 0 b ,a 6.9 6.7 6.7 5.9 7.2 6.8 4.9 o TOTAL PRIVATE ECONOMY lir v.nnnvic 125.0 126.5 1-71 6.9 7.0 Ö.9 6.'9 6.2 7.3 7.1 6 .3 2-71 7.0 7.1 7.0 6.S 6.4 7.3 7.2 6.7 7.6 7.3 3-71 7.0 7.1 7.0 7.0 6.6 7.4 7.3 6. 9 7.6 7.4 7.5 4-71 6.3 0.9 6.8 6.7 6.3 7 .C 6.8 6.4 6.8 6.5 6 .0 4.6 1-72 7.3 7.4 7.3 7.4 7.1 7.7 7.7 7. 5 8.1 8.1 3.4 8 .9 13.4 2-72 7.2 7.3 7.2 7.2 7.C 7.5 7.5 7.3 7.7 7.7 7.8 7.9 9.5 5.9 3-72 7.0 7.1 7.0 7.0 6.8 7.3 7.2 7. C 7.3 7.2 7.2 7.1 3.0 5.4 4 .9 4-72 7.1 7.1 7.1 7.1 6.8 7.3 7.2 7.C 7.3 7.3 7.2 7.2 7.8 6.1 6.2 7.5 7.2 7.0 7.5 7.4 7.3 7.5 7.5 7.5 7.5 8.1 6.9 7 .2 8.4 128.9 7.8 1 31 . 2 133.6 135.1 139.4 141.4 143.1 145.7 1-73 7.2 7.3 7.2 2-73 7.2 7.3 7.2 7.2 7.0 7.4 7.4 7.2 7.5 7.4 7 .5 7.4 7.9 6 .9 7.1 7.9 8.1 6.9 3-73 7 .3 7.3 7.3 7.3 7.1 7.5 7.5 7 .4 7.6 7.6 7.6 7.6 8.0 7 .2 7.5 9.1 8.3 7. 8 8.7 4-68 1-69 2 -6 9 3-69 4-69 1-70 2-70 3-70 4-70 1 -71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1 -73 2-73 9.4 149.0 15 1 . 5 154.7 INITIAL QUARTER P R E P A R E D BY F E D E R A L R E S E R V E B A N K OF ST. L O U I S D E C E M B E R 3, 1973 O UTPUT PER MAN-HOUR, TOTAL PRIVATE ECONOMY ______ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E _______ TERMINAL QUA RTfcR 1967 ...IN I U A L __SLfAHTE R . 4-68 l-o9 2-69 3-b9 4-64 1-70 2-70 3-70 4-70 1-7 1 INITIAL 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 QUARTFR P R E P A R E D BY F E D E R A L R E S E R V E C E C F M B E R 3. 1973 BA NK OF ST. L O U I S 13 PRODUCTIVI TY, COMPENSATI ON, RATI O SCALE 1967-100 19 6 5 AND LABOR COSTS RATI O SCALE 1967-100 SEASONALLY ADJUSTED 19 6 6 1967 19 68 19 6 9 1970 197 1 SOURCE« P E R C E N T A G E S ARE A N N U A L LA TE S T DATA PLOTTE D« RATES OF CHANGE FOR P E R I O D S U N IT L A i3 C K COSTS» _____ C m i P C H N Q t C 1973 OF L AB O R INDICATED . TCTAL __ Liu3__ ______________________LzZii__ 2.-JQ 3 z ZC____ W O P R IV A T E RESERVE BAN K OF ST. L O U I S ECCNCMY A N N U A L . KA I f S — f F_-CH A N S H ______ IN IT IA L - ir ^ L d 19 72 DEPARTM ENT 3RD QU AR TE R P R E P A R E D BY F E D E R A L ■-L J1 P A 1 .N A L Q U A R T trt U .S . 1-71 CUAR TER 2 -7 1 3 -7 1 4 -7 1 -7 2 1-7 2 3 -7 2 4 -7 2 1 -7 3 2 -7 3 108 .6 1-6 9 /. 6 110 .9 7.(3 1 1 2 .9 4 -o 3 1 -6 9 _ _ _ _ _ 2 -0 9 i-o 9 1 '» - o 9 1 -7 0 2 -7 0 J-7 C 4 -7 0 1-71 IN IT IA L ? - 7 l 3 -7 1 4 -7 1 1 -72 2 -7 2 3 -72 4 -7 2 1-7 3 2 -7 3 Q U A k TER PREPARED CECfcMHER BY 3» FEDERAL 1973 RESERVE RANK CF ST. L OU IS 14 C O N S U M E R PR I CF I N D E X , TERMINAL MONTH 1 9 6 7 * 1 00 INITIAL M ONTH 4-72 . SEASONALLY ADJUSTED 5-72 6-72 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3. 7 6-72 2.6 1.5 7-72 3.3 3. 1 4.8 8- 7 2 3.3 3.2 4.1 3.3 9-72 3.7 3 .7 4.4 4.2 5-73 6-73 7- 7 3 8-73 9-73 10-73 125.32 125.66 5 .2 126.19 126.61 3. 8 3.8 4.3 4.2 4. 6 4.1 11-72 3.7 3.7 4.2 4.0 4.3 3.8 3.6 12-72 3.6 3.5 3.9 3.7 3.8 3.4 3. 0 126.98 2.5 127.24 127.87 1-73 3.8 3.9 4.2 4.1 4.3 4.0 4.0 4.3 6.1 2-73 4. 3 4.4 4.7 4.7 5.0 4.9 5.2 5. 7 7.3 8.6 3-73 4.9 5. 0 5.4 5.5 5.8 5.9 6.3 7. 0 a.6 9.8 11.1 4-73 5 .1 5.3 5.7 5.8 6. 1 6.2 6.6 7.2 8.4 9.2 9.4 5— 7 3 5.3 5.4 5.6 5.9 6-73 5 .4 5.6 5.9 6.0 6 .3 6. 4 6.7 7-73 5.2 5.4 5.7 5.7 6.0 6.0 6.1 8-13 .6,4 ....6* 6 L»Si 1*2 7.5 7.7 .,.8.1 6. 2 ...6.*9___ ■ tit 5____£ütl____ Laii____7.1 11-71 4-73 124.63 10-72 10-T3 3-73 124.68 5-72 h.r fa.a 7.? 7 .1 *+-72 5-72 6-72 7-72 6.3 6. 7 7.4 v^+9.0% 131.47 8.7 8.7 7.6 7.3 7.2 8.0 8.3 7.4 7.1 7.0 ft. 6 7 .? 7.4 7.2 6.2 5 .7 4.8 2.8 a*6 9.4 9.8 1 0 . JL 9.8 10*3 11.4 1 3 «7 9.1 9.1 8.8 9.0 9 . 5 ___ l.Q.i.3__ 14.3 - 3.9- 132.21 \ 132.51 135.06 135.49. 9*2 9 . 3 ____ a*Q - 9.6 10.3 13.0 7.1___3LQ«A- 9 .0 9 -1 9 .4 9.1 9.3 9.7 10.2 12.2 8.0 9-72 10-72 11-72 12-72 1-73 2-73 3-73 4-73 5-73 6-73 7-73 8-73 7_o 8-72 130.70 7. 8 * ^ ^ a.3 JUh- -^ 129.88 8.2 7.7 1*2___ 1*4___ 1*2___ a*l_ 7 128.75 a a 4 1 0.1 9.8 1 _ 13J.68 9-73 10-73 INITIAL M O N T H P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F ST . L O U I S WHOLESALE PRICFS - INDUSTRIAL CCMMCDITIES, SEASONALLY ADJUSTED C O M P O U N D E D A N N U A L R A T E S OF C H A N G E TO M I MAI 19 6 7 * 100 INITIAL MO N T H MGNTH 4-72 5-7 2 6-72 7-/ 2 8-72 9-72 10-72 11-72 12-72 4.2 6-72 4.3 4.5 7-72 3.3 3.6 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9- 73 1 0 - 7 3 117.88 118.14 2.7 6 - 72 3.9 3.8 3.4 4.1 9-72 3.8 3.7 3 .4 3.8 3.4 1 0 - 72 3.2 3.1 2.7 2. 7 2 .C 118.54 118.87 118.93 0.6 119.40 11- 72 3.5 3.3 3.1 3.2 2.9 2.7 4.8 12-72 3.3 j.l 2.9 3.0 2. 7 2.+ 3.4 1.9 1 - 73 3.3 3.2 3.0 3.1 2.9 2. 7 3.4 2.7 3.6 4.1 4.3 4.3 4.5 5.5 3.6 7.8 2-73 1-73 117.45 5 -72 4.2 119.59 r 1 \ 119.94 12.1 121.09 3-73 5.1 5.2 5.3 5.6 5. 8 6.3 7.4 a. i 10.2 13.7 15.2 4-73 6.1 6.? j .4 6.3 7.2 7.7 9.0 9.8 11.9 14.8 16.1 17.0 122.53 5 -7 3 6. 8 7.0 7.2 7.7 8.1 a.7 9.9 10. 7 12. 6 14.9 15.9 16.2 1 5 . 5 ^ ^ 1 4 . 1 % 125.64 6-73 7.1 7.4 7.6 8.1 8. 5 9 .1 10 . 2 11. 0 12.5 14.4 15.0 14.9 13.9 126.87 7-73 6.7 6 .9 7.1 7.4 7.8 8.2 9.1 9. 6 10.8 12.0 12.0 11.2 9.3 124.14 1 2 . 4 ^ ^ 6.4 126.94 0.7^^"%^ 3-73 o .o 6 .7 6 .9 7.2 7.5 7.9 8.6 9.1 10.0 11.0 10.3 9.9 8 .2 5.9 2.7 4.8 9-73 6.7 6 .3 7.0 7.3 7.6 7.9 8 .6 9.C 9.8 10.6 10.4 9.6 8.2 6.4 4.5 6.5 6.2 10-73 7.1 7.3 7.5 7.6 3.0 S.4 9.1 >.5 10. 3 11.0 1 0.9 10.3 9.2 8.0 6.9 9.1 11 . 3 14 .5 11-73 a. 9 9.1 v.4 S.8 1C.2 10. 7 11. 5 12.1 1 3 . 1 | 14. 1 14. 3 14.1 13.8 1 3.5 13.7 17.2 21.6 28 .9 4— 72 5-72 6-72 7-72 8-7 2 9-72 10-72 11-72 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9- 7 3 1 T F 7 3 12-72 1 -73 127.44 128.28 129.74 4 5. 1\ 133.83 INI 1IAL M U N T H PREPARED BY FEDERAL HiESERVE BANK G F S T . L O U I S DECEMBER 6 , 1973 Ratio Scale P ric e s Ratio Scale P e r c e n t a g e s a r e a n n u a l rates of c h a n ge b e tw e en pe ri o ds i n d i c a t e d . La t es t d a t a p l o t t e d : N o v e m b e r P r e p a r e d b y F e d e r a l R e s e r v e B a n k o f St. Louis 16 WHOLESALE PRICES - ALL ClMKQOITlFS. _____________ ___________________________________________________C O M P C U N 3 t K A N N U A L R M E S S E A S O N A L L Y ACJUSTtl) (A C H A N G E ___________________________________________________________________ 0 1 -j T E R M I N A L __________________________________________________________________ INI T I A L M O N T H __________________________________________________________________ 1 9 6 7 « I O O MONTH 4-72 5-72 1-73 2- 73 o-72 7- 72 11-72 12-72 4-.’i 5 - 7 3 8- 12 S- 72 3-73 6-73 7-73 *-73 9-7 3 10-73 ¡>-72 117.98 6.2 6-72 5.6 5.0 7 -7 2 6.5 6. 7 d .4 118.46 8-72 6*7 6.8 7.3 7.c 9-72 6.5 6.6 7.2 6.6 10-72 5.5 5.3 5.4 4.S 3.1 0.4 11-72 5.9 5.9 6.1 5. 5 4.9 4 .4 8.6 12-72 7. 6 7 .8 *.3 8.3 6.5 9. 4 14. 2 20. 1 1- 7 3 8. 1 8. 3 8. 8 8.9 ‘ 3.2 10. 1 1 3.5 16. C 119.26 119.95 6 . (J 120.53 120.57 121.40 123.27 124.44 12. 0 2-73 9.3 9.7 10. 2 1 0.5 11. 1 12. 1 15 . 3 17.6 16.3 20.9 3-73 il.l 11.6 12.4 12.9 13.U 15.1 ld.3 2 0.9 21. 1 26. 0 31.3 126.42 1 7.3 19. 1 Id.9 21. 2 ¿1.4 129.32 12.3 \ + 1 6 . 6 % 11.7 1 2.4 1 2.9 13.6 14.7 12.4 12.9 13.7 14.2 15.1 16. 2 18.7 20.5 2C.5 22 . 8 23.4 1 9.7 - 13.7 14.3 15.1 15.7 16.6 17.8 20 . 2 22.0 22.3 24.4 25.3 23.4 2 9 .J 16.o 15.J 12. i 12 . 2 4-73 11. 2 5-73 6-73 130.58 133.25 136.30 31.2 11.4 11 . 8 12.4 12.7 13.2 14. C 15.6 16.5 16.0 8-73 15.8 16.5 1 7.3 18.1 19.C 2C.3 22.5 24.1 24.6 26.5 27.5 26.8 30.7 31.8 32.0 9-73 13.6 14 . 0 14 . 7 15.1 15.8 16.6 18.2 19.2 19.1 20. 1 20 . 0 18. ' 19 . 4 17.4 13.2 14.3 14.9 16.2 17.C 1 6.7 17 . 2 16.7 14. 8 15.2 12.9 8 .7 7-73 10-73 H — 73 12.5 12.9 13.4 13.8 13-1 13.5 1 4.0 14, 4 14* 'J 15.5 1 1 6 . 8 I 1 7 . 5 17.J 1 7.8 4-72 5-72 6— 72 7-72 8-72 9-72 1 0 -72 1 1 - 7 2 12-72 1-73 INITIAL 134.40 5.3 - l b . 5 142.76 106 . 2 3 1.0 - 1 6 . 9 N ^ 18. 3 - 1 C . 4 17.5 15. 8 16.3 14.6 11.5 19.5 -C.4 2-73 3-73 4-73 5-73 6-73 7-73 H-74 140.58 140.16 -3.5 21A 9-73 142.63 i0 - 7 3 tonth P^FPAPE»;) 3Y F F O E R A l D E C E M B E R 6 , 1 973 «CS^VF O A N K O F ST. C O U l S W H O L E S A L E P R I C E S - F A R M P R O D U C T S A N L P R O C E S S E D F C G D S A N O F E E D S , S E A S . ADJ. ________________________ C O H P O U N Q E O A N N U A L R A T E S O F C H A N G E ____________________________________________________ ________ INITIAL M O NTH TERMINAL MONTH 4-72 5-72 5-72 6-72 7-72 8- 7 2 9 - 7 2 10 - 7 2 1 1 - 7 2 1 2 - 7 2 1-7 3 2-73 1967 » 100 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 119*5 1 0. 6 •* 6-72 8.4 6.2 7- 7 2 13.1 14.3 23 . 1 8-72 14.0 15.2 20. 0 120.1 122*2 lto.9 123.8 1 7.8 9-72 14.8 15.8 19.2 10-72 11 . 4 11.6 13.0 9.8 6.5 -3.8 11-72 12. 8 13.1 14.6 12.5 11. 1 7.9 21.0 1 2-72 19.4 20.8 23.4 23.4 25 . 1 27.7 47.0 17.3 125.5 125.1 127.1 78.7 133.4 1-7 3 21.2 22. 6 25.2 25.5 27.3 29.8 43.4 56.2 36 .4 2-73 23.2 24.7 27.2 27.8 29.7 32.2 43. 2 51.5 39.4 42.5 N v 141.0 3- 7 3 27.5 29.4 32.2 33.4 3 c. 0 39.3 49.9 58.2 51.9 60.3 80.3 148.1 136.9 4-73 25.1 26.5 id.7 29.3 31.0 33. C 40.3 44.6 37.1 37.3 34.8 5 -7 3 27.6 29.i 31.4 32.3 34.1 36.3 43.3 47.4 4 1 . r, 43.2 43.4 27.9 62.3 6-73 30.7 32.4 34.9 36.0 38.1 40.5 47.4 51.6 47.5 49.0 51.7 43.2 7C.6 7-73 23.7 24.7 2o a 2 26.5 27.4 28.4 3 2. 6 34.2 2 6 . <s 27.5 24.7 13.8 18.4 fl-73 39.4 41.5 4 b 4o . 3 49.0 52.3 5*».4 64.4 6 2. 7 06.8 71.2 69.5 92.9 104.4 33.1 3. 1 36.0 37. 6 39 . 4 44.1 46.7 43.5 44.4 44.7 35. 5 48.8 45. 6 35.9 35.3 36 . 6 33.0 32.6 31.5 25.7 3C.3 24.8 13.9 a 31.2 27.3 26.7 25.0 19. 4 22 . 3 16.7 7.1 1 0 -72 1 1 - 7 2 12-72 1-73 2-73 3-73 4-7 3 5-73 6-73 9-73 31.6 10-73 26.d 2 7*6 29. 3 2‘ ». 7 3C.7 31.8 11- 7 3 24 . 1 24.3 2o . 0 26.2 26.9 27.5 r 4-72 5-72 6-72 7-/2 8-72 S- 72 148.2 ..." 154.3 79.4 162.0 1. 2 - 4 2 . S 154.6 li d . 2 734.5 184.5 109.6 - 4 7 . 3 174.9 43.5 -4 C . 5 -3 2 . 8 169.2 2 5 . 4 - 3 3 . 4 - 2 5 . 0 - 1 6 . 4 j| 166.7 7-73 P R E P A R E D BY F E D E R A L D E C E M B E R 6, 19 73 3-73 9-73 10-73 RESERVE B A N K OF S t. LOUIS 17 RATIO SCALE WHOLESALE 1967 = 100 SEASONALLY PRICES ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O DS L ATES T DATA P LO T T E D : r a t io scale 1967 = 100 INDICATED. NOVEMBER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 18 GE N E R A L RAT I O PRICE INDEX* SCALE RATI O 1958-100 1965 *AS USED 19 66 19 6 7 IN N A TIO N A L PERC EN TA G ES LATEST SCALE 1958-100 ARE INCONE ANNUAL DATA P L O T T E D t 1968 19 69 1970 ACCOUNTS RATES OF CHANCE 1971 SOURCE: FOR PE R IO D S U .S . 19 72 19 73 DEPARTM ENT OF COMMERCE IN D IC A T E D . 3RD QUARTER PR EPAR ED BY FE D E RA L RESER VE SANK OF S T . L O U IS IM P L I C I T P R I C E D E F L A T O R F OR G R O S S N A T I O N A L P K O O U C T ___________C O M P O U N D E D A N N U A L R A T E S QF C H A N G E ____________ INITIAL QUARTER I fcRMlNAL QUARTER 4-68 1-69 2-69 3-69 4-69 1- 7 0 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-7 2 2-7 2 3-72 4-72 1-73 2-73 125.55 1-69 ..2-6?_ 4.9 5.5/ 3-69 5.3 5.8 ___ 4 - 6 9 5.3 5.7 ..L - 7 0 ..... 5. 5 5.9 2-70 JÊ1+ 3-70 5.2 5.4 127.24 6.1 vfó . 0 % 129.14 130.88 5.5 6.0 5.3 5.9 6. 3 5.5 5.5 5.1 5.0 132.91 4.3 135.77 4-70 5.3 5.5 t>. 5 5.4 5.3 5.0 5.2 6 , ^ \ 137.88 1-71 5.4 5.5 5.5 5.4 5.4 5.1 5. 3 5.9 13 9 . 7 3 2-71 S.3 5. 3 5.3 S.i 5.2 5.0 4.9 ■ i-n_ l._L_ _ljt1___ 5.5 1 4 1 . 40 3.8 -4.9_ 142,39 2.8 142.85 4-71 4.8 4.8 4.7 4.6 4.5 4.2 4.1 4.2 3 .6 3.0 2.1 1.3 1-72 4*8 4.9 4.8 4. 7 4.6 4.4 4. 4 4.4 4.0 3.7 3. 3 3 .5 5.7 2- 7 2 4.6 4*0 4.6 4. 4 4.3 4.1 4. 0 4.0 3.6 3.2 *t * 2. 8 3.6 1.6^s^ 3-72 4.5 4.5 4.4 4. 3 4. 2 3.9 3 .9 3.8 3.5 3.2 2.8 2.8 3.3 2.2 144.85 145.42 146.42 2.8 4 * 4 _4 * 4 4*3 4*2 4*1 3*9 3*8 3. 8 3 .5 3.2 1 2 . 9 2.9 3.3 2.6 3 .1 3.3 1- 7 3 4.5 4.5 4. 5 4.3_ 4. 2 4.1 4.0 4.0 3.8 3.5 3.4 3.4 3.9 3.4 4.0 4.7 6. 0 2-73 4.6 4.7 4.6 4.5 4. 5 4.3 4.3 4. 3 4.1 4.0 3.8 4.0 4.4 4.2 4.8 5.5 6.7 3-71 4.8 4. 8 4.8 4.7 4.6 4.5 4.5 4.5 4.4 4.3 4. 2 4.4 4.8 4.6 5.3 5.9 f 6.8 1 4-68 1-69 2-69 3-69 4-69 1- 7 0 2-70 3-70 * 1 o 147.63 4-72 1-71 2-7 1 3-71 4-71 1-72 2-72 3-72 4-72 v,+ò.8% 149.81 7 . 3 ^ ^ 152.46 7.1 15 5 . 0 6 1 -73 7.0 1 2-73 INITIAL QUARTER PREPAKEO BY FEDERAL RESERVE NOVEMBER 16, 1973 BANK OF ST. LOUIS
@FedFRASER