Full text of National Economic Trends : December 1975
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n in o n iL E co n o m ic h e r d s PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MONTH ENDING : November 30, 1975 RELEASED: December 29, 1975 The U.S. economic recovery continues to build as the major indicators have increased quite steadily since early spring. Prices have advanced at a slightly faster pace since the beginning of the recovery than from November 1974 to April. The time period November 1973 to April 1975 is used here as the latest recession, although the dates have not yet been defined by the National Bureau of Economic Research. The first column in the table represents the period of constraints on aggregate supply, while the second period was induced by restriction of aggregate demand. Industrial production has increased at an 11 percent annual rate since April after falling at a 10 percent rate during the recession beginning in November 1973. Both total civilian employment and payroll employment have risen at a 2.4 percent an nual rate, after declining in the five months previous to April. Industrial Production Total Civilian Employment Payroll Employment Personal Income Retail Sales Wholesale Prices Consumer Prices 11/7311/74 11/744/75 4/7511/75 10/7511/75 4.5% 0.1 0.5 7.7 3.6 23.7 12.1 -21.7% 4.4 5.8 3.8 12.8 2.4 7.0 11.0% 2.4 2.4 12.7 14.7 8.2 7.5 2.1% 2.3 0.6 10.7 13.0 0.1 8.6 In November, wholesale prices of all commodities re mained essentially unchanged, after increasing at a 9.6 percent rate in the previous six months. The unchanging position of the index for all commodities in November masks offsetting movements of the components. Farm products and processed foods and feeds, which account for almost 30 percent of the total index, decreased at a 13.3 percent rate in November after increasing at about a 14.6 percent rate from April to October. Wholesale prices of industrial commodities increased at a 7.6 percent annual rate in November, up slightly from the 7.3 percent rate increase in the previous six months and the 3.7 percent rate from November 1974 to April. total c iv il ia n em plo ym en t C0MP0UNQ60 ANNUAL R A T ES OF CHANGE t e r m in a l OF PERSO NS 4-74 5-74 5-74 6-74 7-74 8—74 9-74 11-74 12-74 10-74 1-75 2-75 3-75 4-75 5-75 6-75 7-75 8-75 9-75 10-75 3 .9 6-74 2 .1 7-74 it* 8 6 .0 6 2 0 ,4 « 6 .0 8 0 8 6 .4 0 3 2 .4 >♦5 8-74 1 ,7 1 .0 1 .3 9-74 1 .7 1 .2 ..- IP - 7 4 1 .2 0 .7 11-74 - 0 .2 - 0 .9 - 1 ,1 12-74 - 1 .0 - 1 ,7 - 2 ,0 - 3 .3 - 3 ,7 - 5 ,4 ____i - J 5 - 1 .9 - 3 .0 - 4 ,2 - 4 .7 - 6 .3 2-75 - 2 ,5 - 3 .I - 3 ,6 - 4 .7 3-75 - 2 ,5 -3 .1 -3 .5 -4 ,4 -4 .8 -5 ,8 _* - 7 ? -2 .0 - 2 .5 -2 .0 - 3 .6 - 3 .* -4 ,6 - ? .1 _ -2 .8 - 2 .9 -3 ,5 . 6. - 1 .8 8 6 .2 7 4 1 ,5 - 0 ,0 1 .8 8 6 .4 0 2 0 .8 - 0 .5 0 .2 - 1 .4 - 2 ,5 - 2 ,7 - 4 ,9 8 6 .3 0 4 8 5 ,6 8 9 - 8 ,2 - 7 ,4 - 6 ,6 ^ 6 . 7 % 8 5 .2 0 2 - 7 ,8 - 7 .6 04.56 2 - e ,r V 8 4 .0 2 7 - 6 ,5 1-6,7 I -6 ,3 1 -6 ,2 -5.0 -2.2 -5,1 - 4 ,4 -3,9 .71*7 -3 ,0 - 2 .? -2 .5 > j 0,4 .J3 * M £ 84.086 3.4 5-75 - 1 .5 _ zlL . ^ 6-75 -1 .3 - 1 .7 - 1 .« - 2 .5 -2 ,5 -3 ,0 -3*2 -2 .5 -1.8 -0.3 1,5 2 .9 2<,6 __ 0 .6 7-75 -0 .7 - 1 .0 - l.l -1 .5 -1 .5 -1 ,8 -1 ,9 -1.1 -0,2 1.2 3,0 4 .5 4 ,8 _ .- 0 ,6 _ _ 1.8 4 ,6 , ______ A 4 jJA ^ _ ..... 4 .9 9 .4 ^ ^ 05.070 -0 .4 - 0 ,7 - 0 ,7 -1.1 -1,1 -1,3 -1,3 -0 ,5 0.3 1.6 3,2 4 ,* _ 4 t 6 _ 6.6 3 , i x 9-75 - 0 .3 - 0 .6 -0 .6 - 1 .0 - 0 .9 -1.1 - l.l -0,4 0,3 1.5 2,9 3,8 3,8 3.7 4 ,7 2 ,4 0 .9 ^ 10-75 -0 .3 - 0 .5 - 0 .6 -0 .9 - 0 .8 - 1 .0 - 1 .0 - 0 ,3 0,3 1.4 2.5 3.3 3.2 3 .0 3.6 1.7 0 .6 11-75 - 0 .4 - 0 ,6 -0 .7 -1 .0 - 0 ,9 - l.l - l.l -0,5 0,1 1,0 2,0 2*6 2 ,4 2.1 2.4 0 .7 - 0 .3 - 1 .0 4-74 5-74 6-74 7-74 8-74 9-74 10-74 11-74 12-74 1-75 3-7 5 4-75 5-75 6-75 7-75 8-75 0 - 7 5 10-75 j IN IT IA L ;1 r 0-75 ______ 85.441 0 .3 ^ \ - 2 .3 \ 85,278 MONTH PAYROLL EMPLOYMENT eOMPQUNPfO ANNUAL P A T E S OP CHANGE TERMINAL IN IT IA L MONTH THOUSANPS OF PERSO NS MONTH 4- 74 5-74 6-74 7-74 5-74 2.1 6-74 1 .4 Ot 7 7-74 u s _i f ? . 1 .8 00 1 * - th o u sa n d s MONTH MONTH 1 .5 1 ,3 I .6 1 ,3 9-74 1 .5 1 ,3 1 .5 1 .4 10-74 l.l 11-74 0, 1 8-74 9-74 10-74 11-74 12-74 1-75 2-75 3-75 4-75 5-75 6-75 7-75 8-75 9-75 10-75 7 8.48 6 7 P .5 3 0 78 « 64P 0. 7 ____ _ _ _________________ ______ i ? ± 1 ,5 n ? 0 ,0 1 ,0 0 ,4 - 0 ,6 - 0 ,3 - 0 ,5 - 1 ,0 - 1 .8 - 3 ,4 [- > . 1 - 6 ,2 7 8 .7 9 0 7R » 374 ^ 6 .9 % 12-74 - 1 ,2 - 1 .7 - 2 ,0 - 2 .0 - 3 .8 - 5 ,5 - 7 .9 - 9 ,5 1-75 - 1 .0 - 2 ,2 - 2 ,6 —3 ,4 - 4 .3 - 5 ,6 - 7 .3 - 7 .8 - 6 . l \ 2-75 -2-, 4 - 2 .8 - 3 ,3 - 4 .0 - 4 .8 - 6 .1 - 7 ,4 - 7 .8 - 6 .9 3-75 - 2 ,6 - 3 ,1 - 3 ,5 - 4 ,1 - 4 ,9 - 5 ,9 - 6 , 9 | - 7.1 - 2 .4 - 2 ,8 - 3 ,2 - 3 .7 - 4 ,3 - 5 .1 - 5 .8 5-75 - 2 ,2 - 2 ,5 - 2 ,8 - 3 .3 - V .7 _ -4 .9 77,72 3 7 7 ,U 9 - 7 .7 ^ S v 7 6 .8 0 4 _.J.6±-*6ft_ ___ 76 j A ^ . - 4 .7 - 3 ,7 -3»j ? 6 ,5 1 0 7-75 - 1 .7 - 2 .0 - 2 ,2 “ 2 ,5 - 2 ,8 - 3 ,3 - 3 ,6 - 3 .2 - 2 .3 - 1 ,6 - 0 ,4 8-75 - 1 .3 - 1 .5 - 1 ,6 - 1 .9 - 2 ,2 - 2 ,5 - 2 ,7 - 2 .3 - 1 .3 -0^7 0 .6 9-75 - 0 .9 - l.l - 1 .2 - 1 .5 - 1 .7 - 1 .9 - 2 .0 - 1 ,6 - 0 .7 - 0 ,0 1.1 10-75 - 0 .7 - 0 .9 - 1.0 - 1 .2 -1*3 - 1 .5 -.1.6 U-75 - 0 ,6 - 0 .8 - 0 ,9 - 1• 0 - 1 .2 - 1 .4 - 1 .5 -74 5-74 6-74 7-74 8-74 9-74 10-74 0 ,8 _L? 2 ,2 _ 1 ,1 ! .3 5 ,4 2 .2 2 ,7 5 ,5 5 .5 2 ,7 3 ,2 5 .2 5 .0 7 6 ,6 7 9 7 7 ,0 2 3 7 7 ,3 1 0 4 .6 - 0 .3 0 .3 U4 _ 2 .0 3 .2 S6 4 .4 3 .0 3 .1 - 0 .2 0 ,4 1.3 2, I 2 ,4 2 ,7 3. 0 ..... 3.> . 2 .8 1 .9 11-74 12-74 1-75 2-75 3-75 4-75 5-75 - l.l 6-75 7-75 8-75 7 7 .5 0 8 P 0 .6 I 7 7 .5 4 9 P 0 - 7 5 10-^5 INITIAL MONTH p - PQELI MI N A R Y . 7 8 .8 3 0 P P F O A R F O BY FFO E O A L R E S E R V E D E C E M B E R 5, 1975 2 B A N K OF ST. L O U Î S EMPLOYMENT R AT I O SCALE MI LLIONS OF PERSONS R A T I O SCALE MI LL I ONS OF PERSONS SEASONALLY AOJUSTEO S I « ! » ) O.S. DEPARTMENT Of LAOOR PERCENTAOES ARE AMMOAL R ATES O f CHANCE FOR PER IO®* IN D IC A T E D . L A T E S T 0 A TA P L O TTE O t NOVEMOER P R EL IM IN A R Y PREPARE» §V FEDERAL RESERVE R A M Of ST. LO0IS UNEMPLOYMENT RATES* Ì 967 1968 1969 1970 1971 1972 1973 1974 1975 SOURCEI O.S. DEPARTMENT OF LAOOR ■ P E R C E N T OF C I V I L I A N LAOOR FORCE L A T E S T DATA P L O TTE O t NOVEMOER IN 6R00P PREPARES OV FEDERAL RESERVE DANK Of ST. LOO IS 3 CONSUN6* M I C * INOEX. SEASONALLY AOJUSTCO ______ COHPOUNOeP ANNUAL R A T f S O f CHANGE TERMINAL MONTH ----------V ? » . J>-74 1967 * 100 ___________ INI.T!AL_MONDl _ 6-74 7-74 8-74 9-74 10-74 11-74 12-74 1-75 2-75 J- 7 5 »>75 H $ 6-75 7-75 8-75 9-75 10-75 ---U t Q --- _________ U a J . . . l l t 6 _Z=2i--- lij- 7 - iitl 19«? 12,4 12.3 12.6 14.7 — 5 ^ --- U ti> U «* u±5. 1V8 - lif c l* --- U *.7 12,6 12«9 13.» 13# 1 11. j 9 .0 3.9 8 .« 8 .4 7.9 i-7 4 6-74 7-74 8-74 >-74 JJ- T S 4-74 — _l-51*49 . IS ld tt, 7 .) 7 .0 7 .0 7.5 7 .5 9-74 10-74 U - 7 V 12-74 1*75 2-75 J-7 5 4-75 ' 7 .7 I 7. 3 4 5-75 ? .? 6 ,1 7*5 6-75 7-75 8-75 *>•* «*6 165.57 9-75 10-75 IN IT IA L MONTH P*£f>AR£0 BY FFOE.UL RFSERVf HANK CF ST . LOUIS OECF.MBFP 19, 1975 WHOLESALE PR IC E S - A ll CO*MOOITIPS, SEASONALLY A9JUSTE0 _________________COMPOUNDED ANNUAL «>ATPS OF CHANGE _______ IM T IA I TERMINAL MONTH 4-74 5-74 6-74 7-74 8-74 9-74 10-74 11-74 12-74 5-74 15.7 7 .7 0 .2 7-74 22.7 2 6 .3 39.2 8-74 30.1 35.3 57.2 55.2 9-74 23.3 25.3 34.9 24.2 - 0 .6 10-74 26.1 2 8 .3 36 .4 2 9 .6 18.4 4 1 .0 4-74 5-74 6-74 7^74 8^74 9-74 10-74 11-74 12-74 1-75 month 2-75 3-75 4-75 5-75 6-75 7-75 8-75 9-75 10-75 154.71 -154jl I 1 _ 160.85 166.85 166.77 171.61 1-75 2-75 3-75 4-75 5-?5 6-75 7-75 8-75 9-75 10-75 j N , f | AL MONTH frR^PAREO 8V ¿¿OERAL RESERVE RAN* 0> ST . LOUIS OECEMP.ER 4* 1975 4 R A T IO PRICES S C AL E P E R C E N TA C E S ARE AN NU A L H A TE S O F CHANCE FOR PER IO O S L A T E S T O A TA fL O T T E O s R A T IO IH O IC A TE O . NOVEM ER PR EP A R E D B Y F E D E R A L R E S E R V E RANK O f S T . RATIO SCALE SCALE WHOLESALE PRI CE S PERCENTAGES ARE ANN»AL R A T E J A F CHAN* L O # IS RATIO SCALE FOR PER I OOS I NO I CATE#. LA TEST OATA FLO TTE#« K t V M H i P M P A IC I I » FE#ERAL RESERVE I M K « fi. LON IS WHOLESALE ~PRI CES - IN0U$TRIAL~é0MM001TIES, SEASONALLY AOJUSTEO _________________ COHPOUNOEO ANNUAL RATES O f CHANCE__________________ TERMINAL__________________________________________________________________ IN IT IA L MONTH___________________________________________________________________ 1947 » 100 MONTH 4-74 5-74 6-74 7-74 0-74 9-74 10-74 11-74 12-74 1-75 2-75 3-75 4-75 5-75 6-75 7-75 0-75 9-75 10-75 149*66 5-74 34*0 6-74 32*0 30.0 7-74 34*8 35*2 40.6 8-74 34.6 34.0 37.2 33.0 152*97 157*30 161*25 9-74 29.8 28 .8 20.4 22.7 12.4 10-74 27.9 26.8 26.0 21.4 15.6 10.9 162*03 11-74 25*3 23.0 22.6 10.5 13.0 14.5 165*20 10.3 166*55 167*19 12-74 22.5 20.9 19.5 15.6 11.5 11.1 7 .4 4 .7 1-75 20 .6 19.0 17.5 14.0 10.5 10.0 7.1 5 .6 6 .5 2-75 18.9 17.3 15.9 12.7 9 .5 0 .9 6*6 5 .4 5 .7 160,07 4 .9 160*74 160*90 3-75 17.2 15.6 14.1 11.2 0.3 7 .6 5.5 4 .3 4 .2 3 .0 1.1 4-75 15.8 14.2 12.8 10,0 7.4 6 .6 4 .7 3 .7 3 .4 2 ,4 l.l 1,1 5-75 14.6 13.2 11.7 9 .2 6 .0 6 ,1 4 .3 3 .4 3.1 2 .3 1.5 1.6 2 .1 6-75 13.9 12.5 11.1 8 .8 6 .5 5*9 4 .4 3 .6 3 .4 2 .0 2 .3 2*6 3*4 1% 169.35 170.00 4 ,7 7-75 13.3 1 2 .C 10.7 8 .5 6 .4 5 .9 4 .5 3 .0 3 .7 3 .2 2 .9 3*3 4*0 5*0 5*4 8-75 13.0 11.7 10.5 8 .4 6 .6 6 .0 4 .0 4 ,2 4 ,2 3 .9 3.7 4 .2 5.0 6*0 6*6 7 .9 9-75 12.7 11.5 10.4 8 .5 6 .7 6 .3 5 .2 4 .7 4 .7 4 .5 4 .4 5 .0 5.7 6 .7 7.3 0*3 0*0 10-75 12*9 11.7 10.7 8.9 7 .3 6 .9 6 .0 5 ,6 5.7 5.6 5.7 6 .4 7.3 0*4 9*3 10*7 12.1 1 5 .5 ^ 11-75 12.6 11.5 10.5 8 .8 7.3 7 .0 6 .1 1 5 .0 1 5 .9 5.0 5 .9 6 .5 7,3 0*2 9 .0 9 .9 10,6 11.5 4-74 5-74 6-74 7—74 0-74 9—#4 iO—#4 11-74 12-74 1—»5 2-#5 3-75 4-75 *-7* 6-75 0-75 9-75 10-75 0-75 9-75 10-75 170,74 171*02 173*03 175.12 7,6 \ 176.19 IN IT IA L MÔn T h WHOLESALE PRICES-FARM PRODUCTS ANO PROCESSEO FOODS ANO FEEDS t SEAS • A O J. COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH IN IT IA L MONTH 4-74 5-74 5-74 -2 1 .9 6—74 -3 6 .2 -4 7 .9 7-74 6-74 7-74 0-74 9-74 10-74 11-74 12-74 1-75 2-75 1967 « 101 3-75 4-75 5-75 6-7$ 7-75 1- 160.2 159.3 1.6 15.9 158.1 172*4 8-74 17.0 3 3 .8 114.5 78.2 9-74 n .o 21.1 60 .5 26.5 - io ,i 10-74 2 0 ,3 31. i 65.2 4 2.3 27.2 00 .0 H-T4 23.7 33.6 6 1 .3 4 3 .4 33.4 6 2 .4 46. 6 12-74 13.8 20.1 38.1 21.9 10.0 10.0 - 3 .5 -3 6 .4 100*9 179*3 100.3 - ---- 107*2 1-75 8 .5 13.0 26 .2 12.1 2.1 2-75 3 .4 6 .6 16.6 4 .1 - 4 .0 - 3 .7 - 1 7 .6 -3 2 .0 -29 .0 «-33*0 3-75 0 .6 3.2 11.4 0 .3 - 7 ,6 " 7 , 2 - 1 8 .7 - 2 9 .9 - 2 7 .6 --28.2 - 2 3 .0 4-75 5 .4 0 .3 1 6 .6 6 .7 0 .1 1 .6 - 7 .6 -1 5 .8 5-75 5 .6 6 .3 15.7 6 .8 0 .9 2*4 - 5 .6 -1 2 .3 6-75 3.9 6 .2 12.7 4 .6 - 0 ,9 0 .2 —6*8 -1 2 .7 7-75 7.4 9 .9 16.4 8 .9 4 .2 5 .7 - 0 ,4 8-75 6 .4 8 .6 14.4 7 .5 3 .0 4 .3 9-75 7.6 9 .0 15.4 9 .0 4 .9 6 .3 10-75 8*4 10.5 15.8 9 .0 6 .1 7 .4 11-75 7.1 9 .0 13.9 8 .2 4 .7 5 .8 4-74 5-74 6-74 7—74 0-74 m *4 5 .5 -11.8 -3 1 .5 - 2 6 .3 - 9 .6 102*5 176*5 172.7 -3 ,2 16.3 75.6 - 0 .7 13.3 3 7 .4 - 0 .0 -3 .0 5 .4 17.0 - 4 ,6 -15*3 - 5 .0 0 ,6 5 ,9 16,1 20*6 15*9 - 1 .2 - 5 .4 - 0 .6 3 .7 11,5 20.1 1.3 - 2 .3 2 .4 6 ,7 14,1 21,0 2 .9 - 0 .3 4 .2 8 .3 15.1 21*0 14.6 1.6 - 1 .5 2.5 5*9 11.5 16,0 9-74 10—74 11-74 12-74 1^75 ¿-7 5 3-75 in it ia l 101.0 7 .5 102*1 179.6 20.3 7 0 .9 9 .2 9 ,0 2 5 ,0 - 0 .6 13.2 14.7 2 6 .0 9 .3 3 0 .7 16.1 25*6 13.4 26.3 10*1 10*6 16*6 6*0 11,4 2*9 -13*3 4-75 * - Ï5 6-75 7-75 0-75 9-75 10-75 107*0 106.4 190.6 22.1 193.0 191.5 month PRE*>AREÒ BY ¿ÈDERAL RESFRVE BANK OF S T. LOUIS DECEMBER 4 , 1979 6 INDUSTRIAL PRODUCTION RATI O SCALE R AT I O SCALE 1967-100 1967-100 SEASONALLY AOJUSTEO PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIOD S L A T E S T OATA P L O TTE D i IN D IC A T E D . NOVEMBER P R ELIM IN AR Y PREPARED 8Y FEDERAL RESERVE DANK OF S T . ______________________________________________ I N D U S T R I A L L O U IS P K O Q U C T I O N _____________________________________________ COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH IN IT IA L MONTH 5-74 4-74 6-74 "T - 7 4 $-74 6* 0 6-74 4 .4 1.0 U'$ - i.o - ¿ .è —i .6 -27Ô -¿75 - 0 .2 - 0 .6 0 .5 -2 . Ì 7-74 '8-74 " 9-74 " Ô-74 9—74 10—74 ii- 7 4 l*-7 4 1-75 2-7$ 1967 * 100 3-75 4-75 5-75 7-75 6-75 8-75 9-75 10-75 125.7 ... ‘ 1.4 12^*8 125.5 125.2 Ì. 9 125.6 10—74 - Ò .2 - - T f —¿•4 lT^T*“ —4 .4 -7 .6 IÌ- 7 4 - 8 .9 - l l . l -1 2 .9 -1 4 .8 -1 7 .5 -2 3 .7 -30.7 -35.1 - 6 .3 -1 .9 -7.4 r \ -8 .8 - Ì 0 . 7 -17.2 -26.1 124.8 121.7 (2.5% 117.4 ■ i- 7 r - i l . 8 - 1 4 .0 - I * . 9 - t 7 .9 - ¿ 0 .6 - ¿ 5 .« -31.1 - 3 Ì. 5 - 3 1 .* 113.7 2-T5- -1 3 .0 - t * . l -1 6 .9 - Ì8 . 7 -21.1 -2 5 .3 -29.3 -30.3 - 2 7 .« -2 3 .4 111.2 3 -7 T 110.0 4-75 -12 .9 -1 4 .8 -1 6 .4 -17.9 - 1 9 .9 -23.3 -26.1 -2 6 .2 - 2 2 .9 -1 8 .0 -12.2 1----- 1 -21.7 -1 8 .0 -1 2 .7 -6 .8 -12. ó - Ì 3 . 6 - 1 * .0 - Ì 6 . Ì -17.8 - 2 Ò A 5 -Ï5 —l l . O - l.l 109.9 - 1 2 .4 -1 3 .5 - 1 4 .5 -1 5 .7 -1 7 .9 -19.3 -18.2 -14.3 - 9 .2 - 3 .9 0 .5 2 .2 6-75 - 9 .5 -1 0 .8 -1 1 .7 - 1 2 .4 -1 3 .4 -15.1 -1 6 .0 - 1 4 .5 -1 0 .4 - 5 .4 -0 .3 4.1 6 .7 11.5 \ T-7T' - 8 .2 - 9 .3 -1 0 .0 -1 0 .6 - 1 1 .3 -1 2 .7 -13.2 -1 1 .5 - 7 .5 - 2 .6 2 .Ì 6 .1 8 .6 12.0 12.6 8-75 - 6 .5 - 7 .4 —8 .0 - 8 .3 —8 . 8 - 9 .9 -10.1 -8 .1 - 4 .1 0 .8 5.5 9 .4 12.2 15.7 18.0 “ 23Ü6' X 9-75 - 5 .0 - 5 .8 - 6 .2 - 6 .5 - 6 .7 - 7 .6 -7 .6 - 5 .5 -1 .5 3.2 7 .7 11.4 14.1 17.3 19.3 2 2 .8 21.9 10-75 - 4 .5 - 5 .2 - 5 .5 - 5 .7 -5 .9 - 6 .6 - 6 .6 - 4 .6 - 0 .8 3 .4 7.4 10.5 14.8 15.6 16.6 13.3 11-75 - 4 .1 - 4 .8 -5.1 - 5 .2 - 5 .4 - 6 .0 -5 .9 - 4 .0 -0 .6 3 .3 6 .8 12.5 1T . T F278 974 4-74 5-74 6-74 7-74 8-74 9-74 10-74 11-74 12-74 1-75 2-75 5-75 6-75 7-75 8-75 12.6 ■ 9 .4 [ T u o J 3-75 4-75 110.1 111.1 S 11 A » * 112.2 " 1 1 4 .7 ~~ 5.3 ili.i 116.6P 2* 1 1 116T8P 9-75 10-75 IN IT IA L MONTH P- PRELIM INARY PREPAR60 BY FEOERAL RESERVE BANK OF ST. LOUIS OECENBER 16, 1975" 7 PERSONAL RATI O SCALE INCOME T R I L L I O N S OF DOLLARS SEASONALLY ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOO S L A T E S T DATA P LO TTE D * RATI O SCALE MONTHLY TOTALS AT ANNUAL RATES T R I L L I O N S OF OOLLARS SOURCEi U . S . IN D IC A T E D . DEPARTM ENT OF COMMERCE NOVEMBER P R ELIM IN A R Y PREPARED BY FEDERAL RESERVE DANK OF S T . PERSONAL INCOME f.'IM PfllftQEH ANNUAL BA Jt-S J f L O U IS CHANfif- —L M T L i t .MÛN1H . lE R M ld ll. MONTH ___________ 4=1*__ _______ U=2Jk ___J s J A ___ a=.24__ It . 74 lft-74 H .r7 4 I Zrr74___U .I5 -- 2.-7.‘a___irüL5 __ 5ulX5— — à r J 5 -- 7^2«> Alt?«»-- 9-7S B IL L IO N S OF --- DOLLARS--ANNUAL RATES 1Hr. 1,S , -4=24____ 11*2___________ _____________________________________________________________________________________________________________________________________ A « 74 . 1-2A____ U - J ___l f l * l 9-74 i 1135*2 1Q«2____ 2^L- 11m6 1 tlS9>3L 11*7___U,i> ___liL» Q__ L U J _ 1.17B.Q. IN IT IA L MONTH P- PRELIMINARY PREPARED BY FEOERAL RESERVE BANK CP ST, LOUIS OECEMBER 17* 1975 8 RETAIL SALES RATI O SC ALE B I L L I O N S OF O O L L A R S 1967 1968 1969 R A T I O S CALE B I L L I O N S OF D OL L A R S SEASONALLY AOJUSTED 1970 1971 1972 1973 1974 iw > h i ;i . t . w t m n t 1975 mf l t l f t fClCCMTAtCt MIC AIMVAL RATES Of C M A M M FOR P f I I M t IM l CATE*. LATEST ftATA P L O T T M » tCTtRCR, N m M C « AOVAMCC ESTIMATE FREfAREt tV F I K I U I R U C I V C I M K VF *T. L M I t R ET A IL S A IFS ____________________________________________________________________________________________________ C O M P O U N D E D ANNUAL T E R M I N A L ______________________________________________________________________________________________________ I N I T t A L RA TES OF C H A N G E ______________________________________________________________________________________________________ M O N T H _____________________________________________________________________________________________________ M I L L I O N S M O N TH OF D O LLARS 4 - 7 4 5 - 7 4 6 - 7 4 7 - 7 4 8 -7 4 9 -7 4 1 0 -7 4 5 -7 4 10 * 9 » - 7 4 4# 4 7 - 7 4 1 4 .2 1 3 * 9 3 « - 7 4 1 8 .0 2 0 .4 3 .3 3 0 .0 9 -7 4 8* 0 7 .3 1 .5 - 0 .6 - 2 4 .0 1 0 -7 4 6 * 6 5 ,7 . 7 - 0 .5 - 1 3 .0 - 0 .4 .1 - 8 .7 - 1 8 .9 - 1 6 .2 - 2 9 .5 1 1 -7 4 0 .5 1 2 -7 4 1 1 -7 4 1 2 —7 4 1 -7 5 2 -7 5 3 - 7 5 4 - 7 5 5 - 7 ? 6 - 7 5 7 - 7 5 8 - 7 5 9 -7 5 1 0 -7 5 4 4 * 78 9 - 1 . 6 - 1 . 2 4 4 ,7 2 7 _ .6 ^ 4 6 * 9 2 0 4 5 * 8 5 8 4 5 * 8 4 4 4 4 * 5 2 9 2 .4 i . 2 .7 - 4 .1 - 1 1 .1 - 6 .4 - 9 .2 1 6 .8 1 -7 5 4 .« 4 .1 .0 0 .4 - 4 .6 1 .0 1 .4 2 1 .6 2 6 .7 2 -7 5 6 ,8 6 .4 t 4 3 .8 - 0 .0 5 .6 7 .2 2 3 .2 2 6 .5 2 6 .4 5—7 5 3 ,8 3 * 1 . 7 0 .2 - 3 . 5 0 .4 0 .6 9 .9 7 . 7 —0 . 7 - 2 2 .0 4 - 7 5 5 ,4 4 .9 .6 ? .6 - 0 ,3 3 .6 4 .3 12 * 8 1 1 .8 7 .2 - 1 . 3 2 5 .0 5 - 7 5 7* 8 7 .6 •4 6 .0 3 .6 7 .7 8 .9 1 7 .0 1 7 .1 1 4 .8 1 1 .2 3 2 .8 4 1 .0 6 - 7 5 8 ,0 7 .8 r* 6 .4 4 .3 8 .0 9 .1 1 6 .1 1 6 .0 1 3* 9 1 1 .0 2 4 .9 2 4 .9 1 0 .6 7 - 7 5 9 .3 9 .2 .1 8 .2 6 .4 1 0 .0 1 1 ,2 1 7 .8 1 7 .9 1 6 .5 1 4 .6 2 6 .2 2 6 .6 1 9 .9 3 0 .1 1 7 ,8 I 4 5 .9 0 5 4 5 * 1 0 9 4 6 * 0 0 6 4 4 * 9 14 4 5 * 9 5 1 4 6 * 8 1 3 4 8 * 1 7 3 8 -7 5 9 .2 9 .1 .9 A .l 6 .4 9 .7 1 0 .8 1 6 .5 1 6 .4 1 5 .0 1 3 .2 2 2 .0 2 1 .3 1 5 .4 9 - 7 5 8* 0 7 .9 .5 6 .8 5 .2 8 .0 8 .8 1 3 .7 1 3 .3 1 1 .8 9 .8 1 6 .3 1 4 .6 8 ,8 1 0 -7 5 8 .5 fO 7 .4 5 .9 8 .7 9 .5 1 3 .9 1 3 .7 1 2 .3 1 0 .7 1 6 .3 1 5 .0 1 0 .4 _ 1 1 -7 5 8 * 7 8 .6 .3 7 .7 6 .4 9 .0 9 .7 1 3 .9 1 3 .6 1 2 ^ 4 1 0 .9 1 5 .9 1 4 .7 4 - 7 4 5 - 7 4 6 - 74 7 - 7 4 8 -7 4 9 -7 4 1 0 -7 4 1 1 -7 4 1 2 -7 4 1 -7 5 2 -7 5 3 - 7 5 4 - 7 5 IN IT IA L 4 8 * 5 78 4 9 * 6 5 5 6 * 7 4 9 ,9 2 5 - 1 , 3 - 8 . 7 1 0 ,3 4 ,4 3 ,2 _ 1 6 .7 1 0 ,8 I 6 ,5 6*% 1 4 .8 1 3 .0 5 - 7 5 6 —T 5 7 - 7 5 8 -7 » 9 -7 5 1 0 -7 5 4 9 .5 4 9 5 0 * 19 1 P 50* 7 0 5 E M O N TH P - P R E L IM IN A R Y E - E S T I M A T E D _________________________________________________________________________________________________________________________________________________________________________________________________________________________________________________ 9 PREPA RED » V DECEM BER 1 2 « FED ER A L 1 9 7 5 R ES ER V E SANK OF S T . L O U IS TE ECONOMY C0«»ENSAT10N PER HOUR« TOT _ J9 6 1 _ q uarter *-Ifl-- 1=11-- ¿=2i__ ÌZ.7J— *-.71__ 3-72 ¿ - T L ____ J 2 - J1 - ir li A sJ1 4-72 1-73 2-73 3-71 4-13________________ 1-74 2-71. - A r i l -- 1~7* - ¿ Z.I* l? ? d L jlI ■U.LtO- ____ t u 3 ■ 7t,l, 6>S.. .6*6 m a . „ L iA ju L -6 * 1 ____ i * i ____ l ^ L ___3U 0 13 7 ,3 lr ?2 - 1 2 2 jlJ L -¿r-22 -6*6____tL*Z____» *2 -JLr-I2 ■6*3--- 5 *1 ____SuA____ i * 6 ____ 6*5____ ±fc*9____¿ « 4 6a 6*1 7 .6 s .3 140*6 1 .4 1 * 2 - 6 * 0 ___ 6*&_ - lA L iA - - 1 = 2 1 --------Z*J-------6 * S ____ LadQ____ JUQ____ I mS____ 1*A____ a * 0 ___ ^ 9 ___12+1.. -U 3La_ _7*2____7 .7 ____5 .JL -6r21. -A*2____ 6«J3____ à * S L 6* a. _A*a -Z=ZÉ_ - U 3 ____ L » 3 _ 7>1 - lr J4 . .I**L_ Jk = l* 7*4 -7*6 -i=JLa_ -1*JL. .1 * 1 ____ L J L . -3r I 5 . - 2 - 2 ____ 1 * 2 ____ Z *2_ 4-70 1-71 -¿.•6 - X * 2. a *2___ a*o_ _fl* .1 * 7 . ----- _ _2*2L - ¿ . 6 _ _ i - J ___10*2___12* 1 - 1 11*Q 1 *0 . - fl»7--- -------1«.^ - _9 *a Ì 4 A _ -i*A - - 166.3 _1 6 S*T - 10*B___S * 2 ____ 8 * 4 . 10*6 .9*6. . $*2_ 10*0.^ _ 1 2 I* J L . - £ * J ____ 8 *5L- _a*j____ a*o_ 3 4-71 1-72 ji*2____a * 3 ___ a * 6 _ _ a * x 2-72 3-72 4-72 1-73 . 1 1 7 .1 ... 162*0 -a*6____a*6- __2*a_ -JU 3 ____ a * 2 „ - i * i* ft- 2-71 7^ X I . 6 *3 _ -2 *.9--- a*0____6*6____Z * i _ _a<j____ a*o___ a*3____a**___ & » v - ,a*.4___ s a - -2*J>____ L » 6 ,. .1*2 j^ a .. . i * i — 7 *3 2.a 3____ 7^Q_ 1*.5____ L d L , -Xr-LS . 7 *0 JL2L1* .3 * 1 ____S * 0 ___ 9*Q .9*4____ il# 7 „ 2-73 1-74 3-73 4-73 2-74 4*1. ^ 4 * 0 3-74 4-74 7 * 0 ___ 6-*2 1-75 _LL9 *1 . 2-75 IN IT IA L QUARTE* O U T F IT ___________ tfR ftlN A L . QUARTER P E R . _ HOUR O F A IL £ J2 S £ C U * Q £ 1L PERSO N S* TO TAL A N «U A L _f A T f S _ Q f _ ._ JJU T 1 A L JW A R T E R _ IN IT IA L P R IV A T E ECO M O HY C t t A W i t . ______ 1967 « 100 QUARTPR PREPAREO BY FE06RAL R ESERV E BANK OF S T . LO U IS OECSNRER 2* 1975 10 ... PRODUCTIVITY, COMPENSATION, AND LABOR COSTS RATIO SCM.E RATIO SCALE 1967-100 1967-100 SEASONALLY AOJUSTED 1967 1968 1969 1970 1971 1972 1973 1974 1975 SOWtCCt V.S. KfAftTNCNT DP LAMA PCRCtNTAKt ARC ANNUAL RATES Of CHANCE FOR PERIODS INDICATED* LATEST M U PLOTTEDi MO CHARTER PHCPAHCD DY FCOCMl RESERVE SANK Of ST. LMMS UNIT LABOR COSTS* TOTAL PRIVATE €CONO«Y TERM f MAI OUARTER in it ia l 4-70 1-71 M i ■6 2-71 2.i O 1-71 2-71 3-71 4- 7i 1- 72 2-75 .IZ fid L 3-71 1. 3 .5 i.a 3 .0 1-72 ?, iA 4 .0 2-72 2,i l 2 .9 1-72 ? (if) 4-72 ?, lO JLUiiL 1.3 2,.0 __12_2*A_ 4 .5 7,•0 ?, ?, 2,.A 2 .6 J>(•ft 2, Z » 1 2 .5 ? t .n ?, . 1 i4 - _1 2 A ± 5 _ - 1 ,.3 U ± *S. -. 0*0 ._ 1*3 . 2 *1 . 0 .5 1*5.. _ ,l* u 6 1-75 i\ i* i 5.1 ?, ,7 ? , ,9 3,.1 ?, 5 .5 4-4 2-7* iO 5-5 ^l 5,.5 3 » 8 .- 3,,1 4-5 5-5 A-71 3,>6 5^9 3,,7 4.iO 4i,3 3,•A 4 *9 5*R 4-5 4<, 1 4-P 4< 4.,7 4i.4 5-4 1-74 4,,7 5 .9 5 ,, ? 5, A .■n 5,ifi 6 ,9 --JU.9 2-74 5,, ? «»-« 5,•A 6<, ? 6. 6. 7 rA ft*5 *-74 «>,.7 A^5 6.,3 h i ,7 7,■? 7, A-l Q.n 4-74 hi A-* 1-7* 6«. s 7-A 5-75 J b l 5 L . 4 r . T 4 . . 1-7» 5 .A 4-71 A- 2.-7« q u a r t er 3-72 2-72 . ft ,7 A. 1 4-70 1-71 .,9 7,,3 7,.7 7,.ft 7,, | 7«>5 fl,>0 ft,■ 0 fl.O 9*7 ISi,9 7, 7,. 6 7,,7 A .4 <i-1 ft« 6«.5 . a 2-71 3-71 . __ .8 *7 4-71 1—72 2-72 3-72 flL*a -72~ 1-73 in it ia l ?- 7 ? * . J ___ .4*2___ 7*.2 3 - ?V 4-73 ~ l- 7 4 2-74 oiTa r t Eft PRF&AREO BV F€OE*AL RESCRV? OeCFMftFR 2* 1975 11 OF ST* ICuYs GROSS NATIONAL PRODUCT IN CURRENT DOLLARS COHPOONQ6D ANNUAL RATES OF CHANGE____________________ " ______________ IN IT IA L QUARTER_______________________ _________________________ ___ 1-71 _ * 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2—7 i 3-73 4-73 1-74 2-74 3-74 4-74 _ 1-75 _____________ ft IL L IONS OF OOLLARS ANNUAL RATES 2-75 1*027.8 1-71 15,3 2- f r 11.5 7 .8 3-n 9 .5 6 .6 5 .5 V f i 9 .2 7 .3 7 .0 1*047*1_ lfO H « 28 .5 1*063.2 1*115.0 ~i-72 9 .8 8 .5 8 .7 10.4 12.3 2-7* 9 .9 8 .9 9 .1 10.4 11.3 3-f2 9 .9 9 .0 9 .2 1 0 .2 ^ 0 . 7 * * 1 0 .0 9.5 1 i 0 . 2 ~^ 9 . 5 9 .8 10*7 1 1 .2 10.9 1 1 .1 12.7 10.4 *4 0 7 % ; 1*143.0 1*169.3 1*204.7 i 1 0 .8 1 0 .2 1 0 .6 11.5 1 2 .1 1 2 .0 12.5 14.1 15.5 2- n 10.7 1 0 .2 10.5 1 1 .2 11.7 11.5 1 1 .8 12*6 12.5 3-73 1 0 .6 1 0 .2 10.4 1 1 .1 11.4 11.3 11.5 11.9 11.7 9.8 1 0 .1 4 -fi 1 0 .2 10.5 1 1 .1 11.4 11.3 11.4 1 1 .8 1 1 .6 10.3 10't 6 i-H 110.71 i = = r 1 0 .2 9 .8 9 .9 10.4 1 0 .6 10.4 10.4 10.5 1 0 .1 8 .8 s is * 2 -U ’ ¿ 0 .0 • 9 .6 9 .7 10 . i 10.3 1 0 .1 1 0 .0 1 0 .1 9 .7 8 .6 > -*4 ' > 0 .0 9 .6 9 .7 1 0 .1 1 0 .2 1 0 .0 10 .0 1 0 .1 9 .7 8 .7 ^ 9 .6 9 .2 9 .3 9 .6 9 .7 9 .5 9 .4 9.4 9 .0 1-75* 8.7 8 .4 8 #4 8 .6 8 .6 8.3 8 .1 8 .0 2-75 8.7 8 .3 8.3 8 .5 8.5 8 .2 8 .0 3-75 9 .2 8 .8 8 .9 9.1 9.2 8.9 4-70 t —71 2-71 3-71 4-71 1-72 it?7 7 9 .6 \ \ im t * UJi^tsSL 1 1 .2 1*358.8 7 .8 1 .3 8 3 .8 7 .7 6 .0 8 .6 8*2 1 7 .2 I 8 .6 9*7 8 .1 7.8 7 .4 6 .5 7 .1 6 .9 4 .2 7 .5 6 .5 6 .1 5 .4 4 .3 4 .3 3.2 7.<; 7.4 6 .6 6 .2 5 .6 4 .8 4 .3 4 .1 1 o .o 1 1 mJ 2 .3 8.8 8.8 8*4 7 .7 7.5 7 .2 6 .7 7 .0 6 .9 6 .2 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 3-74 GROSS NATIONAL PRODUCT IN CONSTANT 1958 DOLLARS ___________________________________ ______________ :_______________ COMPOUNDED ANNUAL RATES OF CHANGE _ B IL L IO N S OF T ^ M tN M ,______________________ __________________ _____________________ IN IT IA L QUARTER____________________ ;__________ QUARTER r6<70 t - 7 t 4-71 1-72 3-72 2-71 4-72 1-73 2-73 3-73 4-73 2-72 1-74 2-74 5-7% ____ ____ _____ 3-74 4-74 1-75 -r 7 .6 ^ S . iiii K0% 1*430*9 f i tt » t |P v >f 4l U0. O 7.0V^ 1.4 6 .9 1 12.81 1 1 J 4-74 1-75 1 8 .8 ^ 1 liW t± A 2-75 IN IT IA L QUARTER 1-71 10. 2 2-71~ 6 .4 736.9 *...... 742.1 1 3-71 5 .2 2 .8 2 .8 5 .5 4 .0 4 .6 * t 5 , '* ^ 6 . 7 % 1-72 5 .7 4 .6 5#2 6 .4 2-72 6 .1 5 .4 6.0^ 3-72 6 .1 5 .5 6 .0 6 .8 4-72 6 .4 5 .9 6 .4 7.1 7.3 7.6 7.1 8.3 i- 7 ? - U * l| 1 1 — 6. 8 7 .5 7.7 8.0 7.9 8.9 9.5 ? .8 ' 6 .2 6 .7 6 .8 6 .8 6 .5 6.6 5 .8 2 .2 s 5*8 5 .4 5 .7 6 .0 6 .0 5 .5 5.4 4 .4 1.9 1.6 5 .5 ?t4 5 .4 ?t? 5 .6 5 .4 4 .9 4 .7 3.9 I 2*1 1 2*0 2 .4 *•1 4 .2 4 .3 4.1 3 .8 3 .2 2 .7 1.6 - 0 .3 - 1 .1 - 2 .4 - 7 .0 * 3*6 3 .7 3 .8 3.5 3*2 2 .5 2.1 1.1 - 0 .5 - 1 .2 - 2 .2 - 4 .4 ~ l-74 "2-74 4 .1 2-75 2 .9 4-7* • m . 747.2 759.1 6 .4 770.9 7 .4 8 .4 6 .9 7.2 786.6 6 .0 798.1 814.2 832.8 837.4 ... - 4 .4 840.8 845.7 830.5 - 1 .6 827.1 2 .7 2 .0 1*6 2 .8 2 .4 2*3 2 .3 1 .9 1.5 0.9 0.3 - 0 .6 - 2 .0 - 2 .7 - 3 .5 ~ l- t5 * _ 1 .9 1 .4 1.3 1.2 0.8 0 .4 -0 .3 -0.9 -1 .9 -3 .2 - 4 .0 - 4 .9 - 6 .3 -6 .1 - 7 .5 P O - 1 1 . 4 1 - iV _ 1.9 1 .5 1*4 1.3 0 .9 0.5 - 0 .1 —0.7 -1*5 - 2 .7 - 3 .3 -3 .9 - 5 .0 - 4 .5 - 5 .3 - 6 .3 - 5 .0 2 .5 2 .1 2 .0 2 .0 1.7 1.4 0 .9 0.4 - 0 .3 - 1 .2 - 1 .5 - 1 .9 - 2 .5 - 1 .8 - 1 .8 - 1 .8 0 .8 17.51 4-73 ' 1-74 2-74 3-74 4-74 1-75 3*2 ■ •T ?• ? JttsA- - 1 .8 L J -4*9- -4*2 -----4-70 DOLLARS ANNUAL RATE* 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 823.1 - 5 .5 804.0 - 9 .0 ^ v 1*^ l«v rrt» 780.0 783.6 1 .9 13.4 ^ 808.6 2-75 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST . LO UIS OECEMBER 19* 1975 12 DEMAND AND P R O D U C T I O N RATIO SCALE TRILLIONS 1 OF QUARTERLY TOTALS AT ANNUAL RATES DOLLARS SEASONALLY ADJUSTED TRILLIONS RATIO OF SCALE DOLLARS 1.7 1 .6 1.5 1 .4 1.3 1 .2 1. 1.1 1. 1 .0 0.9 0.8 0 . 0.7 0 . 0. 6 0.5 SOURCES U.S. DEPARTMENT OF COMMERCE UJSNP IN CURRENT D OLLARS . 126NP IN 1958 DOLLARS. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOGS INDICATED. LATEST DATA PLOTTED: 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 13 GENERAL PRICE INDEX* R A T I O SCALE R AT I O SCALE 1958-100 1958-100 ■AS USEO IN NATIONAL INCONC ACCOUNTS SOtMtCCt U.S. OEPAATNCNT Of CONMEItCC fCftCCNTACCS AKC ANNUAL RATES Of CHANCE fOR PERIOOS INDICATE*. L A T E S T OATA F L O T T E O t 9R0 QUARTER PREFARE0 OY FEOERAl RESERVE SANK Of ST. LOUIS IM P L IC IT PR IC E Df/LATOR EO* GROSS NATIONAL PRODUCT ___________COHPÜUKUeo ANNUAL RAT t S OF CHANGE ____ Tfe*»I*AL QUARTER IN IT IA L QUARTER 4-70 1-71 2-71 3-n ____ i - 7 l 4 .7 2-11 <*•8 3-71 4 .J 3 .7 r s , 2 .0 4-71 3 .5 3 .1 2 .2 1.9 1-72 3 .9 >.7 3 .3 3 .7 3 .3 4-71 1-72 2-72 3-72 4-72 4-73 2-73 1?58 » 100 3-73 4-73 1-74 2-74 3-74 4—74 1-75 2-75 . 13 9,Jt2. 141.13 142.03 142» 70 ;3 .2 % ~ 2-72 3.6 ArJA >..5_ 4-72 ¿♦6 3 .4 1-7* i.d 2-73 4 .4 3-73 4-73 5.5 144.62 3 .0 3.1 3.7 1.9 ___3 .0 3.1 3.6 2 .6 3.3 145.31 146.50 3 .3 3.7 3,1 3.7 4 .0 3 .7 f 3 .2 | tr r 3 .5 3 .7 4 .0 3.7 4 .3 4 .8 5 .5 4 .1 4 .0 4 .2 4.6 4 .4 5.0 5.6 6 .4 7.3 4 .5 4 .5 4 .5 4 .7 5.1 5.C 5.7 6. 3 7 .0 7*H 4 .8 4 .S 4.W 5 tl 5 .5 5.5 6 .2 6*J7_ 147.96 | 149.95 ^ 7 .4 % ' 152.61 8 .3 8 .5 | 155.67 8 .6 158.93 5.4 5 .5 5.5 5.tt 6 .3 <*.4 7.0 7.6 bo 4 9.1 . 9 .T 10. 5_ 12.3 5.7 5 .* 5 .e 6 .1 6 .6 6 .7 7 .3 7 .9 e .5 9.2 9 .6 10.1 1 0 .6 3-74 o. i o .3 Ó .6 7.0 7.2 7.8 8.4 9 .0 ?t* 10.1 10.5 11.2 4-74 0 .0 * .7 ó. V 7 .2 7.6 7.b 6.4 9 .0 9 .7 10*3 10.8 ll± }_ ^ 1 2 ^ 4 1-75 6 .7 6 .8 7.0 7 .3 7.7 7.9 ¿«4 9 .0 9 .5 MM 10*5 2-75 6 .6 6 .7 o .b 7.1 7 .5 7.7 8.2 8 .6 9.1 9f 5 9 .8 7.9 8.3 8.7 9 .0 ___9 . 2_ 2-72 3-72 4-72 f! 1-74 2-74 A » *... 6 .6 . J> . J i ! “ 4-70“ 1-71 2-71 _ 7 .0 7.3 3-71 4-71 1-72 1-73 2-73 14 163.61 ^_„ 167*31 10.6 1 1 .9 ^ X . 172.07 11.9 13.1 14.4 177.97 11.4 9 .4 _ V n JJU i 11.0 11.6 10.0 10.2 9 .8 9 .9 V .3 6 .B 9« 3 9 .4 8 .9 8 .9 8 .1 ^ 6 .1 | 4.Ç 4 .8 3-73 4-73 1-74 2-74 3-74 4-74 1-75 2-75 183.88 1 186.05 PREPAREO eyfEO ER AL RESERVE 8ANK 0> S T. LOUIS 0ECEH8ER 19* 1975 PERSONAL CONSUMPTION EXPEfÀ)ITURES IN CURRENT DOLLARS ____________ COMPOUNDED ANNUAL RATES OF CHANGE______________ TERMINAL IN IT IA L QUARTER ÓUAftfÉR 4-70 1-71 1-71 14.9_________ 2~71 11.0 3-71 2-71 3-71 4-71 1-72 2-72 3-72 +-72 1-73 2-73 6 .2 7 .1 1-72 9.2 7 .8 8 .0 8 .9 10.6 2-72 9 .6 8 .5 8 .8 9 .7 11.1 11.3 3-72 9 .5 8 .7 8 .9 9+6 10.5 10.3 9 .8 9 .1 9 .4 10.0 10.7 10.7 10.4 11.5 --- I h l ____9 .6 10.0 10.6 11.3 11.4 11.5 12.6 13.6 Jz 2 1 --- 10*1--- h ± --- h * 10.4 10.9 11.0 10.9 11.4 11.3 --- Ih â --- 9*5--- 9^8 1Q.2 10.7 1Q.6 10.3 10.8 1Q.5____? , Q JU h - h i -----2*2----- h i ___h i __ h â ____9 .6 9 .3 9 .4 7.3 6.3 ?f? ? t ? ____8^7___ 7t 3____ 7, 0 . 8 .9 9.1 -2=2±------- h i ----- h i ____9 .3 - h ä ____h > 9 .3 757.2 8 .8 - Z iiiL . 9.2 T9M & IÌJL Ì 3 .6 9 1 1 ** •40.6 ____¿ * 4 _ 9 .8 10.1 10.0 9 .8 9 .9 9 .6 8.8 8 .8 >.7 11.3 14.3 10.6 10.3 10.3 10.6 10.3 10.0 10.1 ^0.4 12.7 1 3 ,0 8 .9 9 .0 9 .2 - h i __ h i __ h i __ 6.8 8.1 7 .9 8 .9 9 .0 9 .2 2-73 3-73 2-75 701.5 10» 3 9 .2 1-75 7 2 0 .» 10 f 0 1-73 4-74 » 6 3 .6 --- I h l --- 9t 8 4-74 3-74 672.1 6 .7 9 .4 2-74 662.1 6 .8 6 .9 + 1-74 650.3 8 .8 ..I r J 4-73 7 .3 4-71 4-72 3-73 8 IL L IONS OF DOLLARS ANNUAL R A T H - 9 .3 - h i ----- h i ----- h.\ 9 .3 9 .3 9 .4 9 .6 9 .7 4-70 F7 I F7 Ì M l 4-71 9 .2 9 .0 6 .7 8.1 7 .9 ____9 .4 9 .2 9 .2 9 .0 6.5 8.4 9 .7 9.5 9 .6 9 .4 9.0 8 .9 1 -7 2 2 -7 2 ^ - 7 2 _ 4 -> 2 “ l- 7 3 ---------------- nrrrm Î-fÏ 13 .7 M 7 .7 ____6 t 7 y > „ . 6 , 3 „ - jt4 7 .8 8.6 8 .6 6.8 2 *1 8.0 - i l l ____h i ____Ì l i ____ S-lff 8 .9 M 3 9 .7 ^ î 9 .9 i- U ill 893.8 g lfr JL 936.» H ii, 9 .1 7 .5 11 .0 12 .3 13.3 2 -7 4 3 -7 4 4 -7 4 Ì- H 2 -* 5 ♦** i t wmik--------------------------------------- PERSONAL CONSUMPTION EXPENDITURES IN CONSTANT 1958 OOLLARS _________________COMPOUNDED ANNUAL RATES QF CHANGE__________________ n m rra sn sr TERMINAL ôû'OTCfe IN IT IA L QUARTER 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 An n u a l fcATfS 3-73 4-73 1-74 2-74 4-74 1-75 2-75 490 .1 t-71 11.0 2-71 6 .9 3.1 49 3 .6 - 3-71 5 .7 3.1 3 .2 4-71 5.6 3 .8 4 .2 5.2 1-72 5 .9 4 .6 5 .2 6 .2 7.1 2-72 6 .3 5 .4 6 .0 6 .9 7 .7 497#7 504.1 512.6 8.4 5 2 3 .2 3-7 2 6 .3 5 .5 6 .0 6 .7 7.2 7.3 6 .3 4-72 6 .6 3 .9 6 .4 7.1 7 .6 7 .7 7.4 8 .5 1-73 6.7 6 .2 6 .7 7 .3 7 .7 7.R 7 .6 8 .3 8.1 2-73 6 .1 5 .6 5 .9 6 .3 6 .5 6 .3 5 .8 5 .7 4 .3 0.6 3-73 5 .6 5 .1 5 .4 5 .6 5 .7 5 .5 4 .9 4 .6 3.3 0.9 1.2 5 5 5 .4 4-73 4 .6 4 .0 4 .1 4 .2 +.1 3.7 2.9 2 .3 0 .8 -1 .6 - 2 .7 546.3 1-74 3.8 3 .3 3.3 3 .3 3.1 2 .6 1.6 1.1 - 0 .4 -2 .4 -3 .4 531.2 5 4 2 .2 552*9 553.7 - 5 .6 5 3 9 .7 2-74 3.7 3 .2 3 .2 3.2 3 .0 2 .6 1.8 1.2 0.1 -1 .5 - 2 .0 3-74 3 .7 3 .2 3.2 3 .2 3 .0 2 .^ 2 .0 1 .5 0 .3 - 0 .7 - 0 .9 -?T<> - 1 .3 "ll? 9t? 4-74 2 .6 2 .0 1.9 1.8 1.6 l.l 0*4 - 0 .3 - 1 .3 -2.6 -3 .1 - 3 .9 - 3 .3 2 .2 2 .8 542 .7 3 .4 547 .2 - 1 3 .* -2 t 8 1-75 2 .6 2 .0 2 .0 1.9 1.6 1.2 0 .6 0 .0 -0 .9 -2 .0 - 2 .3 - 2 .9 - 2 .2 - It* - 2 t* - 5 .7 2-75 2.8 2 .3 2 .2 2 .2 2 .0 1 .6 1 .0 0 .6 - 0 .2 -1.1 - 1 .3 - 1 .6 - 0 .8 p .0 - 9 t* - 1 .8 3-75 3.0 2 .5 2 .5 2 .5 2 .3 1.9 1 .5 1*1 0 .4 - 0 .3 -0 .4 - 0 .6 0 .2 9 t* 0 .3 4—To 1-Tl 2-71 3-71 4-71 1-72 4—12 . 1 - tt 2-73 3-73 4-73 2-74 3-74 *-T2 1-74 526.2 2 .3 4 .4 4-74 531.5 **3 53 9 .7 6 .5 6 .6 1-73 2-75 546 .6 M 6 H A E 6 *V T O H U t RgSgS v T "fcA»H< fl* S T . t f r i f S NOVEMBER 20. 1975 15 GROSS PRIVATE OOMESTtC INVESTMENT IN CURRENT DOLLARS TERMINAL w u a r t Fr f t IIIIO N S 0* OOLLAR* IN IT IA L QUARTER 1-71 4-70 2-71 3-71 1-71 29.6 2-71 2 5 .6 3-71 1 5.9 9 ,6 - 1 .3 4-71 1 7.0 13.1 9 ,0 2 0 ,4 1-72 18.2 15,6 13,6 2 1 ,8 4-71 1-72 2-72 3-72 4-72 1-73 3-73 2-73 4-73 1-74 2-74 3-74 4-74 1-75 1 4 » .» 154.0 2 1 .8 153.5 23.2 169.4 175.5 17,7 1 5,5 1 4 ,0 19,6 19.1 15,2 5-72 1 7 .5 13,6 14,3 1 8,6 18.0 15.6 15.9 4-72 17,7 16,0 15,1 18*7 16.3 16.7 17.5 19,0 1-73 17,9 16,5 15,8 18V9 18.6 17,5 18.2 19,4 p m 199*0 19.8 205.1 2-73 17,4 16*1 15,4 18,0 17.6 16,5 16,9 17,2 16.3 12.8 16 .5 1 5 .2 1 4 .5 16.7 16.2 15.0 15.0 14.8 13.4 10,3 7 .8 4-73 17.8 16.8 16.3 18, 4 18.2 17.5 17.8 18.2 18.0 17,4 19.8 1-74 14 ,0 12.8 12 .0 13.5 12.7 11.5 11,0 10.1 8 .5 5 ,8 2-74 13.2 1 2 .0 11.2 12.4 11.6 10.4 9 .9 9 .0 7 .4 5.1 3.3| 3-74 1 1 .4 10.2 9 ,3 10.3 9 .4 8 .1 7 ,3 6 .3 4 .6 2 ,3 0 .3 V( - 1 . ? - IQ .£ - 4 .4 - 1 0 .9 4-74 11,1 10*0 9 .2 10*0 9*2 8*0 7 .3 6*4 4t 9 1.4 - 0 .7 1-75 4 ,1 2 .7 1.5 1 .7 0 .4 - 1 .3 - 2 .6 - 4 .3 —6 .6 2-75 1 ,7 0 ,2 - 1 ,0 - 1 .0 - 2 ,3 -4.1 -5 .5 - 7 .2 - 9 .5 -1 2 .3 -1 5 .0 -17.9 -2 4 .2 -^ 4 .5 -30*1 -3 5 .5 -50*0 -3 2 .0 4*6 __ 3^6 3 ,9 2*9 1 #6 0 .6 - 0 ,6 - 2 .2 -4 .1 - 5 .8 - 7 .4 -12 .1 -1 0 .2 -1 2 .6 - 1 3 .0 - 1 8 .8 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-70 1-71 . ... 190.2— *3-73 5,7 _ 1 »0.8 $-72 3-75 2-75 ___ 224.5 33 .1 210.5 1 .4 - 2 2 .7 f , 8 - H .,0 0 .2 - 6 .7 211*8 2 .5 - 2 .3 205.8 209.4 7 .2 183.1 - 9 ,5 -12.3 -15.2 - 2 2 .6 - 2 2 .5 - 2 9 .4 -3 7 .2 -6 3 .2 4-73 1-74 2-74 3-74 4-74 148.1 20*6 113*9 1-75 179.1 2-75 GROSS PRIVATE OOMESTIC INVESTMENT IN CONSTANT 1958 DOLLARS COMPOUNOED ANNUAL RATES OF CHANGE * — m n rn n s r TERMINAL IN IT IA L OUARTER DOLLARS W M C k k lH m U m ----------------------------------------------------------------- 55------------------------------------------------ — --------___________ 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-7» 2-74 3-7+ 4-74 1-75 2-75_________________ 1-71 24» 7_________________________________________________________________________________________ ______________ _______________ __________ ____________ 2-71 19»9 107»9 15»3 _________________;___________________________________________________________________ ’___________ .____________________________________________H l . > 3-71 10.3 3 .7 4^71 1 2 ,4 8»6 - 6 . 6 _____________________________________________________ ________________________________________________________________________________ 1 0 9 .9 5*4 19,1_____________________ ________________________ _____________________________________________ __________________________________ U 4 . 8 1-72 13»3 1 0 ,7 9 .2 16 ,0 2-72 13,3 11 ,2 10»2 16»3 13,2 13,4________________________ '_________________________________________ _____________________________________________123,2 3-72 1 3 »! 11,2 10,5 15,2 13,9 12.4 11.5___________________ ________________ ___________________________________________________________________ 126,6 4-72 13»2 11.1 15»0 14»0 13,0 12,9 14,3______________________________________________________ ;________________________________________ 130,9 1-73 13 ,0 11,6 11,1 14,4 13,4 12,6 12,3 12,7 2-73 1 2 .3 1 0,9 10 ,4 13,1 12,1 11.2 10.6 10,3____8*4____5*8_____________ __________________________________ ;_______________________________ 136.3 >-73 10,9____2*6____ 9 *0 ...J X s l _.1Q*1____ 2*0____£*1____ U 1 ____t i f i ____i t i 11 ♦7 _ * = Z 2 ____U t f t .. U t 4 f ... l i t I P t+ 17,0______________________________________ _________________________________________ ______________________________________ 119,4 IL L l— ia U — llt ^ 11,1____________________________________________________________________________ 134,4 ________________________________________ ____________________ __________ 133.6 U t a . - l . U 4 ...... « f ? ............................................. ........................ ......................................... 1 *5 .8 1-74 8 ,6 7 .3 6 ,6 8»0 6»9 3 .7 4 ,6 3 ,5 1,5 -0»8 -2»9 - 3 . 6 - 3 0 * 1 _________________ ________________ ______________ 133.3 2-74 7 .2 ___ > ,0 5»2 6 .4 5»2 4 .0 2 ,8 ____ 1 .7 - 0 .3 - 2 .4 - 4 .4 - 5 .4 - 2 0 .1 ____l t 2 ____ 1 x2 ____h i ____ h i ____h ± ____t r i 4-74 4 .2 3 .0 — 1=12___ = ? t l - it 6 .. J r J f___ ■■■i+t+ 3-75 2 ,2 2 .9 1,6 0 .3 ~ 9 t? ’ U f t - ’ ? i* . . - “ 3t?-, ~ 9 t l - 0 .9 -2 .2 - ?t? ~ 7 t9 -4» ! - 6 .0 - 7 .9 ,- ftft - P t l- r . 1 7 . t i - ¿ 9 i ? . , - P t l r P t ? 8 . 7 _________________________________________ 130.3 ~ P t ? - I U Ì ________________________________________122.7 - 9 .1 - 1 7 .4 -12»6 -14»5 - P t Q z A P tè -J P t 2 -z U t2 .-Ìif+ r7 tfr- ..r fo & T= J . U l r P t Z - r» t9 - 7 . 0 ______________________________ 120.5 - ?9 tfr ^ 7 t 9 - l i t * ~}1*\ - ? * t l -if?*_________________________ 99.3 ________ ________ S2il_ - 1 .0 - 2 .2 - 3 .2 - 2 .9 -4»3 - 3 .6 -6 .9 - 8 ,3 - 1 0 .2 - 1 2 ,0 - t3 » 8 - 1 5 .3 - 2 0 .3 - 1 8 .8 - 2 0 .7 - 2 0 .5 - 2 4 .6 19.2 113.1 4=75 M W 3-71 W 1 1-72 2-72 3=72 1-7* l l 4-72 1-73 2-7 Ì 3-73 ---------- ------------------------------------------------------- i k l f l I I "gTAftTCT------ — 4-73 1-74 2-74 3-74 4-74 2-75 97 .5 ' ------------------------------------------------------------- »«> by > e m k a l k i t t i «V# m * * w s r r x o u i s NOVENM* 2 0 . I« T S 16 GOVERNMENT » j R C H A S F S OF G O O O S A N O S E R V I C E S IN C U R R E N T O O L L A R S TERM NAL dUAR r w S tL L IO N S OF OOLLARS ANNUAL RATES IN IT IA L QUARTER 4-70 1-71 2-71 3-71 4-71 1-72 3-72 2-72 4-72 1-73 2-73 3-73 4-73 1-74 2-74 3-74 4-74 1-75 2-75 227.9 1—7 8.5 7 .3 6 .1 3-7 7 .5 7 .0 7.8 4—7 8 .4 8 .4 0.6 11.3 231.3 235.7 242.1 251.1 I —7 9.8 10.2 11.6 13.5 15.7 2—7 8 .9 9 .0 9 .7 10.4 9 .9 4 .4 3-7 7.9 7 .8 P. 2 S .? 7.2 3.2 253.6 255.1 2.1 262.6 8 .4 8 .4 8.8 9 .0 8 .5 6.2 7.1 12.3 1-7 8.6 8.6 9.0 9.2 9.8 7.1 8 .1 11.2 8 .4 8 .4 8.7 8.8 8 .4 7 .0 7 .7 9 .6 8.3 6.5 3-7 f t .I 9.1 P .3 3 .4 8.0 6 .7 7 .2 8.5 7 .3 6.0 5.4 4-7 8«6 8 .7 8.9 9 .0 8.8 7 .8 8 .4 9 .7 9.1 8.7 9.8 --- 10.1 _______ t u a _ ?7 6 f 9._ 14.4 t e à x ± - . .. . 9.1 9 .1 9.4 9 .6 9 .4 8*6 9.3 10.5 10 10.1 11.4 14.5 14.6 9 .3 9 .3 9.6 9 .7 9.6 8.9 9 .5 10.6 10.3 10.4 11.4 13.5 13.0 1 1 .4 9 .4 9 .4 9.7 9 .8 9 .7 9.1 9 .7 10.6 10.4 10.5 11.3 12.8 12.2 1 1 . I 9 .7 9 .8 10.1 10.1 10.2 9.7 10.2 11.2 11.0 11.2 12.0 13.3 13.1 9.8 9.8 10 .I 10.2 10.2 9.7 10.2 11.1 10.9 U .O 11.7 12.8 12.4 9 .7 9 .7 10.0 . I 10.0 9.6 10.0 10.8 10.6 10.7 11.2 12.1 9 .5 9 .5 9.8 9 .9 9.8 0.4 9.8 10.4 10.3 10.3 10.7 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 10 . 1 312.3 12 .6 13.2 15.6 323.8 11.9 12 .1 U .7 10.0 331.6 u .i ll.l IU Z 9 .0 8 .1 1 0 .4 1 0 .2 1 0 .0 8 .2 7 .3 4-73 1-74 2-74 3-74 4-74 1-75 GOVERNMENT PURCHASES Oe 6000S AN9 S E R V IC E S IN CONSTANT COMPOUNDED ANNUAL RATES OP CHANCE 338.1 6 .5 3 4 3 .5 » 11^7 1 0 .9 CM 3-73 304.4 1 0 .8 1958 9 01 LA R S W TERMINAL OTAftTCA IN I T I A L 4-70 2-71 1-71 3-71 1-71 - 0 .9 2-71 - 0 .4 0 ,0 3-71 1.8 3 .2 6 .6 4-71 3 .5 5 .0 7 .6 8 .6 4-71 1-72 2-72 3-72 4-72 1-73 O T 3-73 4-73 1-74 2-7 4 3-74 4-74 1-75 2-75 ratéS 1 3 7 .5 1 3 9 .7 1 4 2 .6 1-72 3 .5 ^•6 6 .2 6 .0 3 .4 2 .9 3 .6 4 .6 3 ,9 1 .7 0 .0 3-72 1 .6 2 .1 2 .5 1 .5 - 0 .7 - 2 .8 - 5 .4 4-72 1 .9 2 .3 2 .6 1 .9 0 .3 - 0 .7 - 1 .1 3 .4 1-73 2 .0 2 .4 2 .7 2 .1 0 .8 0 .2 0 .3 3 .3 2-73 1 .7 ... 2.2.0. . 2 .3 1 .7 0 .6 o .i 0.1 / .o 1 .3 - 0 .6 3-73 1 .5 1 .8 2 .0 1 .4 0 .4 0.0 -0. 1 1 .3 0 .7 - 0 .6 4-73 It * 2 .1 2 .2 2-74 1 .6 . £*0 . .. L d L . 2 .0 1 .6 3-74 U5 1 ,7 . l.e 4-74 i.5 1 .7 1 .8 1 .9 2 .1 1-75 1 .6 1 .8 2-75 1 .8 1 .9 >-75 1 .8 4-70 2-73 An n u a l 1 3 7 .5 2-72 1-74 T W QUARTER 2-71 - 1 4 3 .8 1 4 1 .8 _ U 8 .... I l l .. 0 .8 ,0 ,9 ?.o . .O jlS 0 .6 0 .7 1 .5 0 .8 0 .6 _ 1 .4 0 .9 1 .6 1 .8 3. I 1 4 4 .1 1 4 3 .9 - 0 .6 .. A%>.. ... L J L . — S k i _ 2 i? 1 4 3 .7 5t 7 1 4 5 .? __.Li_7 U L 2*0_ 3 t? 0 .8 1.6 1 .3 0 .9 1 .3 2*0 0 .1 0 .6 U4 1.2 l.l 1*5 O iL 0 .6 0 .7 1 .4 l.l 1*1 1 .4 0 .4 1 .1 0 .9 _ 1 .0 1 .6 1.4 0.8 0.9 1.2 US 1*8 1 ,1 U3 1*1 1 .2 1 .9 1 .7 1 .6 1 .8 . 2 .2 — 1 «_6 1 .3 1 *9 W8 1.6 1 .9 Z tZ 1 .7 1 .9 2-72 3-72 4-72 1-73 2-73 3-73 4-73 1-74 1 .4 _ J U 2 _ 3-71 1 4 3 .0 . ..1*1.. 0 .8 .- JL t 1„. — U S L 2 .1 1-71 1 4 3 .8 4-71 1-72 1 4 6 .0 1 4 5 .8 01 - * *• ? _ 0*3 1 4 5 .9 0 .7 1. 1 1 .7 2 .5 3 .9 ¿.3 * .0 4 .0 4 .1 2 .9 3 .5 3 .3 2 .4 3-74 4-74 1-75 2-75 2-74 p S T p a 'RFO b y F E D E R A L N O V E M B E R 20. 1 9 7 5 17 1 4 6 .3 1 4 7 .7 1 4 9 .2 1 5 0 .1 R E S E R V É * a WT"7ÌP ST. L O U B D ÏS *0 S4 iU e R 6 P S 0 M I INCOMg IN CURRENT DIX LA* S _______ COHPOUNPEP ANNUAL »4T*S 0* CHANGE__________ I^ ÎT IA Ç W I U r o N l 6T DOLLARS QUARTCt aMi ouaptço 4-70 1- 7 1 3 -7 ! 4-71 1-72 2-7? 3-72 »«y ? 1-73 2-73 3 -73 4 -71 1-74 2-7 4 3 -7 » » -7 » 1 -7 » WKt? i ? -7 5 1-71 12.7 ?-7| 1Q.7 H.H 74V. I 751.3 728.6 3-71 9.4 6 .3 4-71 7 .7 6 .1 1—7? 7.6____ 6*3____ !><!>____ 6 . 3 2-72 3-72 4-7? 7 .9 741.8 5 .7 774.7 790.0 6 .7 6 .9 7.5 9.1 7 .1 ▼.4 9 .0 >>6 9 .0 II.? 12.2 13*6 *0 7 .2 J h * ____ Ë i i ____ 2a 2____ 11*1 1-73 J 2 i i ____c ,3 10.2 Z-l ü ___ 1*1__ SLii__ StL -10f? V b l - Ü t2 16.0 ■ 13.8 J ü i L U « î ..Jfltf - 2 i* --- , 1 ? * » J b l l _____ 1x1____ 1*1____ 10*4 a S ld L JE U t? .Itttl U .Q 11.6 12.2 12.9 12.1 10.9 10.9 11.4 JU ti» - L l Z Î_____ 2±5____Î * J ____ 1*1____ 1 0 .» 11.2 11.5 1 0 .» 9 .3 8 .1 i .2 4 .9 950.6 -ilZ 4 ____ 2±>___ 2*1___ ZxA___ LO^» 10.6 10.> 10.0 8.8 ».3 7 .7 __________________ 5x2____* a ± . -2=25_____ 2*2____ 1*2____ 1*À____ ^ 7 - 1 0 .1 10.4 1 0 .7 10.9 1 0 .? 9 .3 9 .0 ê .7 ____ T â l , J U 1 ....1 U - ■3-1»_____ 2*1____ I t J ____ 1*1____ 2*5____ n » 10.1 10.1 10.4 9 .7 8 .9 8 .5 » .2 Az2> 8 .9 8 .7 ■¿=1? 9 .* 9 .7 C .7 1 0 .! 10 .4 _?* *___ g^-T. l^ Y T 3 i3 Ltl. 8 .* ____ **9 ____ U Q 9 * X * .. lift__•»*....AS__ *j I- ?t!__1x2__ »il- Jhâ. .,±*<L 3-75 "4 - fj 7.4 f- T l "3-> i 4- t i 1U1 10.6 10.0 10.0 9 .9 9 .4 1 0 .» -9 .9 —10.1 _ 10.2 10.7 9 .6 9 ,0 8 .8 8. 7 > .3 J .9 4- t > i -? r 4 - rü t- n vut 10.9 ?— f- T i~ s - re ~* - n ----------------------- W l f U l Q O À àfW --- --------- ----- 1 1 .» 2 .7 1 1 .» 1 ».3 27.2 JLlfiZîlâ- 9 .3 ___ >t 1 ...» ¿ > „ 11*0___ i- n 'S—y 4" " 4-T4 ■i T T T T - 7 s " 0 ISR0SA 8LE PERSONH INCCNE IN CONSTANT 1954 DOLLARS ___________ CQNPQUHQfO ANNIIAL RATES 0» CHANGE______________ IN IT U L TER*4IM*L 'W CT7l? r ~ 4 -7 0 1-71 1-71 2-71 3-Tj 4-71 1-7? 2-7? 3-72 4 -7 ; n i T T f f n r a» DOLLARS s m m rw m i QUART£9 1-73 2-73 3-73 4 -7 3 1-74 2-74 3-74 4-74 1-75 2 -75 548.8 8.8 554.9 4 .5 2 -n 3 5 » .4 3-71 4 .7 2 .8 4-71 4 .5 3 .1 2 .4 3 .» 1-72 4.3 3 .2 2 .7 3 .6 * .? 2-72 * .4 3 .6 3 .4 4. l 4 .* 1.1 561.6 566.2 S .3 5 7 3 .» 3-7? 4. t 4 .0 3.9 4 . f> 4 .8 5.6 5 .9 4-72 5 .7 5 .2 5.4 6 .7 6.Q H .l 9 .5 13.1 1-73 6 .? 5 .9 6 .1 6 .9 7.6 0 .6 9.R n -7 581.9 600.1 10.4 615.1 2-73 ¿ .8 5 .4 5 .* 6 .? 6 .6 7.3 7.8 8« i 6.1 3-*3 5 .4 5 .1 * > .? 5 .7 6 .0 6 .4 6.7 6.0 4 .9 2 .2 2 f9 2 .3 4-73 5 .0 4 .7 4 .7 5 .1 5.3 5.6 5 .7 5.6 3 .« :.7 1 .3 1-74 4 .0 3 .6 J.5 3 .a 3 .H 3.8 3.6 3.2 1.4 - 0 .# - 1 .7 - 1.5 - 1 .1 2-74 3.4 3 .0 ? .* 3 .0 ? .9 ?*« 2 .6 2.1 0 .4 3—74 3 .1 2 .7 2 .0 ¿ .7 2.6 2 .5 fo i lf • ffj3 - ¿ ■ ti,. >.o >•1- 1.9 4-74 \ - lï____ i * ? . U7 ? -7 S ? .e *«» 3-1S_ -r-rà i-fi 2 -n l * â - -,W * 1.4 J jl L. 6 18.2 621.8 o .T 610.3 —2 .4 -6 . 1 -4.4 6 03 .5 - 2 .0 - 4 .3 - 2 .4 - 0 .4 - » t? . - h * , r it» ..-¿ j L - 4 .1 -2 .R -3 * 9 1 .0 - i & i - - L î .ç _ 1.1 0 .6 -0 .7 -?«J) 6 22 .9 - 7 .8 - 2.5 - 3 .3 - 3 .2 6 0 2 .9 594.8 ,-j .» 591.0 2 .9 2.9 2 .8 2 .6 i *3 1.3 0 .4 A f . ~ 9 tl ~9.ll l l i ___ 1*2___ 2i l ___ ftt1 J U L 7 .4 2 .3 2 .2 2 .0 U ? ___ 0 .7 -Q .2 - 0 .3 - O .i - 1 .1 0 .1 \ -n 4 -n i-ji t-tt 1-ti M l l-fl 4-fl i-7i 3-Ti 4-ï? 1 .0 1 .4 3 .7 4-Ti 7 .0 6 2 0 .2 -5 .6 l-Tf- ^ * n.4 K ---------- I M TU T - W r ffT gl ------------------------------------------------------- H g r a F f l -é'V-*TEm t MDVH8ER 20. 1975 18 mfftVF MkVC'W ST. I M S L O F 'U tA T t PROFITS A fte * TAXÉS • CCMPUUNOtO ANNUAL J 4TfcS .jF CHANCE Tf*<UNAl OU»-'U p ' IN I U A L i-71 4-70 i- :a jl - n . — 71 4-71 2-72 3-72 4-72 1-73 2 -7 Î 3-73 4-73 1-74 2-74 3-74 4 - 1 1 .. l - 2 k »1*6 ♦ 54 . 4 1 .0 ¿ v .i 2 «. 9 *7 tS. J tr iL . .**?4 _ 2o.O 20.4 I ± -u . 3*>.0 24,;» ? •4 3 J*3 2-72 32.1 2 * .0 * t7 25.6 3-72 3 0 .* 4-7? JJU !- 1-73 34,5 2-f i 3 -'3 ¿7 •H ¿ 'j. O _ f 9 2 ¿<«.0 24.7 2 30 . a 2 9 .* 3 32.4 2 A .‘) 27. b 2 .# 2 B .J 24 .'V 2 3 .* •9 22. 6 21.2 2 t£ 21.4 2o .o 2i>.*> 2 4 ./ tf 25.7 2 6 .* 2i . b < ¿.4 4 .6 22.fr h- 7i 2- I h 1-72 k ** y — 3-n . 2-71 « IL L IO N S OF W HAM ANNUAL SATES qUAHTF* i-74 ¿u . i 4-74 2 1 «) 2-7S I k -7 •5 J J . O 3 3 .« 30.4 tf i 7.4 1 1 7 .C J M Id .4 19.0 20.4 A S b A .. .... 24.9 -J^JL sL-,„3 6 *3 33.9 39.5 2 9 .S 4V.9 7 1 ^ 5 .. 14.7 . 3 7 * i _ . 37.5 2 3 .i 24.0 24.8 21.2 19.7 20.0 19.6 16.0 _4. Q _ - 3 . a „ 3.2 26.0 ¿ 4 .6 16.4 -2 .2 !» « * . 21.7 22.1 22.3 20.1 12.8 12.3 2 a. b 2i>.4 27.1 2 5 .» 20.3 21.4 1*>.6 lb . 1 14.7 12.2 ... *»z 1.7 300. 2<*.4 40.2 . 4 tA « _ 1 * 1 . lu .b s .* «| 7.2 5.3 4 .2 11.0 1 .0 10.4 H.ü t). 1 7 .0 4 .4 -U.7 -2.5 -2. 1 Ab #2 I ♦<J 14.!> U . L -12.9 12.3 10.3 5.9 5. J t>«4 T - 7 Î T 2-71 3-71 4-7 i 7-72“ ~2-T2 3-72 4-72 1-73 2-/3 3-73 . .ALixJL. - 0 .3 li.a -- ..... , 6 6. 9 15. * _ _ _ _ _ 63.1 o4.9 13.3 ____ 7 44-3 6 5 .B - * .9 - B .5 -4 5 .3 ........ 1 - 2 .7 -1 2 .6 - 1 5 .4 -3 2 .4 - ¿ W fl 4-73 - 0 .5 - 0 .5 -12*4 1-74 2-74 3-74 1 *5 - . -Ù À M Ì- - U j.1 -25*. 1. r i i * 9.-5 6 r .i .... ______ 2 9 .5 5 .2 4-74 7 Û .Î _62* 1 8 9 0 .6 1-75 2-75 /*. IN IT IA L OtlAKTf-» _• \ 3TH 'NA L lN C u X t KHi-PAAtl) BY FtOc<«AL *>tS£«Vtr BANK ÜF ST. LO U IS O r C ^ N d i» I* . 1 9 7 5 SOURCES OF DATA National Income and Product Accounts Data Source: U.S. Department of Commerce, Bureau of Economic Analysis Historical Data Sources: 1970-73 1968-69 1966-67 1964-65 1929-63 . .............. ¿ 2 x 1 Survey of Current Business, July 1974 Survey of Current Business', July 1972 Survey of Current business', July 1970 Survey of Current business, July 1968 The National Income and product Accounts of the United States, 1929-65. Statistical Tables (available from any U.S. Department of Conmerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402). 19 I NVE NT ORI E S COMPARED WI T H MONTHLY S A L E S * MANUFACTURING AND TRADE Î .7 6 76 1 .7 2 72 1 68 1 .6 4 64 1 .6 0 60 I .5 6 56 1 .5 2 1.52- 52 1 48 1 44 40 1 . 40 1965 1966 1967 * RAT I OS 8ASE0 ON SEASONALLY ADJUSTED DATA. 1 1968 1969 1970 1971 1972 1973 1974 1975 SOURCEt U. S . DEPARTMENT OF COMMERCE SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS AS DEFINED BY THE NATIONAL BUREAU OF ECONOMIC RESEARCH. LATEST DATA PLOTTED: OCTOBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. 2 0 LOUIS