Full text of National Economic Trends : December 1983
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National Economic Trends Federal Reserve Bank of St. Louis One of the most impressive aspects of the recovery recession has been the rapid decline in the unemployment rate. the civilian labor force declined to 8.4 percent in November 1983 1982 peak of 10.8 percent. This is the most rapid recovery in rate for a comparable period since the early 1960s. December 1983 from the 1981-82 Unemployment of from its December the unemployment Rapid growth in the demand for goods and services and, hence, in the demand for labor has played an important part in the decline o f the unemployment rate. From December 1982 to November 1983, civilian employment rose at a 3.9 percent annual rate. Such growth was above the average 3.2 percent rate over comparable 11-month periods following the previous seven recession-related unemployment peaks. It is about the same as the 3.8 percent rate o f growth over the 11 months following the peak unemployment rate that was associated with the 1973-75 recession. During that recovery, however, the civilian unemployment rate fell only 1.3 percentage points from 9.0 percent in May 1975. The more important factor accounting for the recent decline in the unemployment rate was a slowdown in the growth of the civilian labor force, individuals who are willing and able to work. From December 1982 to November 1983, the civilian labor force grew at a 0.9 percent rate. This is slower than the average 1.3 percent rate of growth in the seven previous recovery periods and sharply below the 2.2 percent rate of growth in the 1975-7 6 recovery period. When employment growth exceeds the growth of the labor force, unemployment falls; obviously, the slower the growth in the number of individuals seeking work, the faster the decline in unemployment. The recent slowdown in the growth of the civilian labor force is due, in part, to demographic changes. From 1965 until 1980, the labor force grew at about a 2.5 percent rate reflecting the baby boom and increased participation of women in the labor force. Since 1980, growth of the civilian labor force has declined to about a 1.5 percent rate. The dissipation of the e ffe ct o f the baby boom is reflected clearly in the slowing of labor force growth. The population and labor force in the age group 16 to 24 have been falling since 1980. Over the 11 months ending in November, the civilian labor force of ages 16-24 fell at a 2.4 percent rate. During the comparable 11-month period in 1975-76, a 3.0 percent rate of growth in the supply of labor from this age group outstripped the growth of older members of the labor force, raising the overall growth rate of the labor force. —John A. Tatom Views expressed do not necessarily reflect official positions of this Bank or the Federal R eserve System . TOTAL C IV IL IA N EMPLOYMENT -CQgjgQUNPED ANNUAL RATES QF CHANGE TERMINAL MONTH 5 -8 2 rHóUi>*MniP OF Ht.Ki.UNS IN IT IA L 1MONTH 4 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2 -8 2 3 -A 3 1 -8 3 4 -8 3 7 -A ^ 5 -8 3 A -A * 6 .3 6 -8 2 1 .2 - 3 .7 7 -8 2 0 .4 -2 .4 -1 .1 0 .0 8 -8 2 0 .6 -1 .2 9 -8 2 0 .1 -1 .3 1 0 -8 2 - 0 .6 -2 .0 1 1 -8 2 -0 .6 O*»# 681 1 .2 -0 .3 -1 .7 -1 .5 - 1 .6 -3 .0 - 4 .3 99 , -1 .7 -1 .3 - 1 .4 - 2 .2 -2 .4 -0 .5 9 9 , li>6 1 2 -8 2 -0 .6 -1 .5 -1 .2 - 1 .2 -1 .8 -1 .8 -0 .5 -0 .5 1 -8 3 -0 .5 -1 .3 -1 .0 -1 .0 -1 .4 -1 .3 -0 .3 -0 .2 0 .1 2-83 -0 .5 - 1 .2 - 0 .9 -0 .9 -1 .2 - 1 .2 -0 .3 - 0 .3 -0 .2 - 0 .5 99.09 4 99.103 99«Öt>3 3 -8 3 -0 .4 -1 .1 -0 .8 -0 .7 —1 .0 —0 .9 -0 .2 -0 .1 0 .0 0 .0 0 .5 4 -8 3 -0 .0 -0 ,6 -0 .3 -0 .2 -0 .3 - 0 .1 0 .6 0 .8 1 .1 1 .4 2 .4 5 -8 3 0 .1 -0 .4 -0 .1 -0 .0 -0 .2 0 .0 0 .7 0 .9 1 .1 1 .4 2 .0 2 .8 1 .2 6 -8 3 1 .1 0 .7 1 .1 1 .3 1 .3 1 .7 2 .4 2 .9 3 .4 4 .1 5 .3 7 .0 8 .3 1 5 .9 99 ?1L3 4 .4 99. <#9. ->47 lù û .7 fth 7 -8 3 1 .4 1 .1 1 .5 1 .7 1 .8 2 .1 2 .8 3 .3 3 .8 4 .5 5 .5 6 .8 7 .6 1 0 .9 6 .1 8 -8 3 1 .6 1 .3 1 .6 1 .8 1 .9 2 .2 2 .9 3 .3 3 .8 4 .3 5 .1 6 .1 6 .5 8 .3 4 .7 3 .3 9 -8 3 1 .7 1 .5 1 .8 2 .0 2 .1 2 .4 3 .0 3 .4 3 .9 4 .3 5 .0 5 .8 6 .1 7 .4 4 .7 4 .0 1 0 -8 3 1 .6 1 .4 1 .7 1 .9 1 .9 2 .2 2 .8 3 .1 3 .4 3 .8 4 .4 4 .9 5 .0 5 .8 3 .4 2 .6 2 .2 - G .2 1 1 -8 3 2 .0 1 .8 2 .1 2 .3 2 .4 2 .7 3 .2 3 .6 3 .9 4 .3 4 .9 5 .4 5 .6 6 .4 4 .5 4 .2 4 .4 4 .3 9 .1 4 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 10-8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -8 3 I C I . /Rh 101 . f>63 4 .6 l ü 1,945 l o i .9 2 0 IN IT IA L MONTH PAYROLL EMPLOYMENT COMPOUNDED ANNUAL RATES OF CHANGE TtKMlNAL MUNTH IN IT IA L 1MONTH 4 -8 2 5 -8 2 6 -8 2 7 -8 2 5 -8 2 -0 .1 6 -8 2 -1 .6 -3 .2 7 -8 2 -2 .5 -3 .7 - 4 .3 8 -8 2 -2 .5 -3 .3 -3 .4 - 2 .5 8 -8 2 9 -8 2 10-8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 THOUSANDS OF PERSONS 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -8 3 9 0 .0 1 6 8 9 .7 7 5 8 9 .4 5 0 8 9 ,2 6 4 9 -8 2 -2 .1 -2 .6 -2 .4 -1 .4 -0 .4 10-8 2 -2 .4 -2 .9 -2 .8 - 2 .3 -2 .2 -3 .9 11-82 -2 .3 -2 .7 -2 .6 -2 .2 -2 .1 - 3 .0 -2 .0 12-8 2 -2 .3 - 2 .6 - 2 .5 -2 .1 -2 .0 - 2 .5 -1 .8 -1 .6 1 -8 3 -1 .0 -1 .2 -0 .2 0 .7 8 9 ,2 3 5 8 8 ,9 3 8 8 8 ,7 8 5 8 8 ,6 6 5 -1 .7 -1 .9 -1 .7 -1 .3 2 -8 3 -1 .7 -1 .9 -1 .7 -1 .3 -1 .2 -1 .3 -0 .6 -0 .2 0 .5 -1 .9 3 -8 3 -1 .5 -1 .6 - 1 .4 -1 . 1 -0 .9 -0 .9 - 0 .3 0 .1 0 .7 -0 .5 3 .0 8 8 ,8 8 6 8 8 ,7 4 5 0 .9 8 8 ,8 1 4 4 -8 3 -1 .0 - 1 .1 -0 .9 -0 .5 -0 .3 -0 .3 0 .3 0 .8 1 .4 0 .9 2 .4 3 .8 5 -8 3 -0 .6 -0 .7 -0 .4 -0 .0 0 .2 0 .3 0 .9 1 .4 2 .1 1 .8 3 .1 4 .2 4 .6 6 -8 3 -0 .2 -0 .2 O .i 0 .5 0 .8 0 .9 1 .5 2 .1 2 .7 2 .6 3 .8 4 .7 5 .2 5 .8 7 -8 3 0 .1 0 .1 0 .4 0 .8 1 .1 1 .2 1 .8 2 .3 2 .9 2 .9 3 .8 4 .6 4 .9 5 .0 4 .2 8 9 ,0 9 0 8 9 ,4 2 1 8 9 ,8 4 4 9 0 ,1 5 2 8 -8 3 -0 .2 -0 .2 -0 .0 0 .3 0 .5 0 .6 1 .1 1 .4 1 .8 1 .7 2 .3 2 .5 2 .2 1 .5 -0 .6 -5 .2 9 —8 3 0 .6 0 .7 1 .0 1 .3 1 .6 1 .8 2 .3 2 .8 3 .3 3 .3 4 .1 4 .6 4 .8 4 .9 4 .6 4 .7 1 5 .8 10-83 0 .8 0 .8 1 .1 1 .4 1 .7 1 .9 2 .4 2 .8 3 .2 3 .3 3 .9 4 .4 4 .5 4 .4 4 .1 4 .1 9 .1 2 .7 11-8 3 1 .0 1 .0 1 .3 1 .7 1 .9 2 .1 2 .6 3 .0 3 .4 3 .4 4 .0 4 .4 4 .5 4 .5 4 .3 4 .3 7 .7 3 .9 4 -8 2 5-P2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 8 9 ,7 4 8 9 0 .8 51 9 1 .0 5 5 P 5 .0 9 1 .4 2 5 P 9—83 1 0 -8 3 IN IT IA L MONTH P- PSfcLlMÏNARY ' ' “ ■” ' ' PREPARED BY FEDERAL RESERVE BANK OF S T . DECEMBER 2 , 1 9 8 3 2 LO UIS EMPLOYMENT RATIO SCALE MILLIO NS 1975 RATIO OF P E R S O N S 1 976 M ILLIO NS SEASONALLY ADJUSTED 1 97 7 1978 1979 1980 1981 1 982 OF SCALE PERSONS 1 98 3 SOURCE: U.S.DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED * NOVEMBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS UNEMPLOYMENT SEASONALLY PERCENT RATE ADJUSTED PERCENT 2.0 11 . 10 . 1 .0 10. 0 9. 9.0 8. 8.0 7. 7.0 6. 6.0 5. 5.0 4. 1 975 1 97 6 1 97 7 1 97 8 1979 1980 1981 1 982 1 983 SOURCE: U.S. DEPARTMENT OF LABOR PERCENT OF CIVILIAN LABOR FORCE LATEST DATA PLOTTED*. NOVEMBER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4.0 CONSUMER PR IC E INDEX FOR A LL URBAN CONSUMERS» SEASONALLY ADJUSTED * COMPOUNDED ANNUAL RATES OF CHANGE ___________ ___ TERMINAL MONTH" IN IT IA L MONTH 4 -8 2 5 -8 2 6 -8 2 5 -8 2 1 3 .0 6 -8 2 1 3 .4 1 3 .8 7 -8 2 1 1 .3 1 0 .5 7 .3 8 -8 2 9 .4 8 .2 5 .5 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 ______________________ 3 -8 3 4 -8 3 5 -8 3 6 -8 3 ____ 7 -8 3 8 -8 3 9 -3 3 1 9 6 7 *1 0 0 1 0 -8 3 2 8 6 .9 2 9 0 .0 2 9 1 .7 3 .8 2 9 2 .6 9 -8 2 7 .7 6 .4 4 .1 2 .5 1 .2 1 0 -8 2 7 .2 6 .1 4 .3 3 .3 3 .1 5 .0 1 1 -8 2 6 .2 5 .1 3 .4 2 .5 2 .1 2 .5 2 9 2 .9 2 9 4 .1 0 .0 2 9 4 .1 1 2 -8 2 5 .0 3 .9 2 .3 1 .3 0 .7 0 .5 -1 .6 -3 .2 1 -8 3 4 .6 3 .6 2 .3 1 .4 1 .0 0 .9 -0 .4 -0 .6 2 .1 2 -8 3 3 .9 2 .9 1 .7 0 .9 0 .4 0 .2 -0 .9 -1 .2 -0 .2 -2 .4 2 9 3 .3 2 9 3 .8 _____ __ _____________________________________ _______ 2 9 3 .2 3 -8 3 3 .7 2 .8 1 .7 1 .0 0 .6 0 .5 -0 .4 -0 .5 0 .4 - 0 .4 4 -8 3 4 .0 3 .2 2 .2 1 .6 1 .4 1 .4 0 .8 1 .0 2 .1 2 .1 4 .4 1 . 6 ____ ________________ 7 .2 ________________________ 2 9 3 .6 5 -8 3 4 .2 3 .5 2 .6 2 .1 2 .0 2 .1 1 .6 1 .9 3 .0 3 .2 5 .1 6 .9 6 .7 6 -8 3 4 .1 3 .4 2 .6 2 .2 2 .0 2 .1 1 .7 2 .0 2 .9 3 .0 4 .5 5 .4 4 .6 2 .5 7 -8 3 4 .1 3 .5 2 .8 2 .4 2 .3 2 .4 2 .1 2 .4 3 .2 3 .4 4 .6 5 .3 4 .7 3 .7 4 .9 5 .1 2 9 5 .3 2 9 6 .9 2 9 7 .5 2 9 8 .7 8 -8 3 4 .2 3 .6 2 .9 2 .6 2 .5 2 .6 2 .4 2 .7 3 .4 3 *6 4 .7 5 .3 4 .9 4 .2 9 -8 3 4 .3 3 .8 3 .1 2 .8 2 .8 2 .9 2 .7 3 .0 3 .7 3 .9 4 .8 5 .4 5 .0 4 .6 5 .3 5 .5 5 .7 1 0 -8 3 4 .3 3 .9 3 .3 3 .0 3 .0 3 .1 2 .9 3 .2 3 .9 4 .1 4 .9 5 .4 5 .1 4 .8 5 .3 5 .5 5 .5 5 .3 1 1 -8 3 4 .3 3 .8 3 .3 3 .0 3 .0 3 .1 3 .0 3 .2 3 .8 4 .0 4 .8 5 .2 4 .9 6 5 .0 5 .0 4 .9 4 .5 3 .6 4 -8 2 5=H2 5 -5 2 7 -^ 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 ? 1 2 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -8 3 5 .3 3 0 0 .0 3 0 1 .4 3 0 2 .7 3 0 3 .6 ------------------------------------------ TNmXTTTOm ♦DATA BEGINNING 1983 INCORPORATES RENTAL EQUIVALENCE MEASURE. PREPARED 8Y FEDERAL RESERVE BANK OF S T. LOUIS OECEHBER 21» 1983 PRODUCER PRICE INDEX, FINISHED GOODS - SEASONALLY ADJUSTED* ________________COMPOUNDED ANNUAL RATES OF CHANGE:________________ TÈRMINAL_____ MONTH ____ 00 1 5 -8 2 00 1 uv <M 0 .0 6 -8 2 6 .2 1 2 .8 7 -8 2 6 .1 9 .2 ______________ ________________________________ IN IT IA L MONTH_________________________________ ______________________ 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 1967 = ICO 9 -8 3 1 0 -8 3 2 7 7 .1 2 7 9 .9 5 .7 2 8 1 .2 6 .0 co 5 .7 5 .7 5 .0 6 .3 4 .2 3 .5 1 .3 1 0 -8 2 4 .9 5 .9 4 .2 3 .8 2 .8 4 .3 o 8 -8 2 9 -8 2 ¿ 8 2 .5 2 8 2 .8 2 8 3 .8 11-8 2 5 .3 6 .2 4 .9 4 .7 4 .3 5 .9 7 .4 1 2 -8 2 5 .1 5 .8 4 .7 4 .5 4 .2 5 .2 5 .6 3 .8 1 -8 3 3 .0 3 .4 2 .1 1 .5 0 .7 0 .5 -0 .7 - 4 .5 -1 2 .2 2 -8 3 2 .9 3 .2 2 .1 1 .6 0 .9 0 .9 0 .0 -2 .4 -5 .3 2 .1 3 -8 3 2 .3 2 .6 1 .5 1 .0 0 .3 0 .1 -0 .7 -2 .6 -4 .7 -0 .6 -3 .3 4 -8 3 2 .1 2 .3 1 .3 0 .9 0 .3 0 .1 -0 .6 -2 .1 -3 .5 -0 .4 -1 .7 0 .0 5 -8 3 2 .2 2 .4 1 .5 1 .1 - 2 .2 0 .4 -0 .1 1 .5 0 .6 0 .5 -0 .1 2 8 5 .5 - 1 .3 2 8 6 .4 2 8 3 .3 2 8 3 .8 2 8 3 .0 2 8 3 .0 3 .0 2 8 3 .7 6 -8 3 2 .5 2 .7 1 .9 1 .5 1 .1 1 .1 0 .7 -0 .2 -0 .9 1 .5 1 .4 3 .0 4 .5 6 .1 7 -8 3 2 .4 2 .5 1 .8 1 .5 1 .1 1 .1 0 .7 -0 .1 - C .7 1 .4 1 .3 2 .5 3 .3 3 .4 0 .8 8 -8 3 2 .5 2 .7 2 .0 1 .7 1 .4 1 .4 1 .1 0 .4 0 .0 1 .9 1 .8 2 .9 3 .6 3 .9 2". 8 2 8 5 .1 2 8 5 .3 2 8 6 .4 4 .7 9 -8 3 2 .5 2 .6 2 .0 1 .7 1 .4 1 .4 1 .2 0 .6 0 .2 1 .9 1 .9 2 .8 3 .3 3 .4 2 .5 3 .4 2 .1 10-8 3 2 .6 2 .7 2 .1 1 .9 1 .6 1 .6 1 .4 0 .9 0 .6 2 .1 2 .1 2 .9 3 .4 3 .5 2 .9 3 .6 3 .0 3 .8 2 8 7 .8 1 1 -8 3 2 .3 2 .4 1 .9 1 .6 1 .4 1 .4 1 .1 0 .6 0 .3 1 .7 1 .6 2 .3 2 .6 2 .6 1 .9 2 .1 1 .3 0 .8 - 2 .1 _______ 2 8 7 .3 4 -8 2 5 -8 2 5 -B 2 T-W2 8 -5 2 9 -6 2 1 0 -8 2 1 1 -8 2 1 2-8 2 1 ^8 3 2 ^8 3 5 -8 3 4 ^8 3 5^3 6 -8 3 7 ^8 3 8 -8 3 ---------------------------------------------------------------------------------------------------------------------- j ^ fTT AL ' MOUTH-------- """------ -------------------—.............. ♦DATA FOR FOUR MONTHS AGO REVISED TO REFLECT LATE REPORTING 2 8 6 .9 9 -8 3 1 0 -8 3 ............. - ........— *— PREPARED BY PFD6RAL RESERVE SANK UF S T . DECEMBER 1 6 , 19 8 3 4 LU U IS RATIO PRICES SCALE 1967=100 340 320 300 2 80 RATI O SEASONALLY ADJUSTED +10 . 2 Z ^ f l SCALE I 9 6 7 = 100 340 1 320 +4.02 300 ---- 3 0 3 . 6 28 0 26 0 260 +/ J . 8 Z 240 220 $ 240 S £ 220 $ s 's V 200 + 6.2Z ___ 180 Ja c o n :SUMER 160 ALL - 1TEMS * * s I 40 5 __ — ^ r k 120 § /y ir ♦ 4 + 2.7Z 4 280 S +10.91 . . . 2 8 7 .3 2 60 460 44 0 420 400 380 360 340 320 300 28 0 26 0 240 +13 4Z* 24 0 220 220 + 9 .2 Z ^ | 200 200 +5. 7Z 180 180 PROI) UCER - 160 | s 140 S!» ........ % 120 1 . _ .„t 1975 1976 1977 160 1 % ♦ F I N I S HED G0( )DS 140 1 % ...........1 1978 1979 t t 1980 1981 t 1982 120 1983 CONSUIIER P R IC E INDEX BEG IN N ING JANUARY 1 9 7 8 IS FOR ALL URBAN CONSUMERS ( C P I - U ) . C P I- U DATA B E G IN N IN G 1 9 8 3 INCORPORATE A RENTAL EQ UIV ALENC E MEASURE FOR HOMEOWNERSHIP CO STS. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER IO D S IN D IC A T E D . LATE ST DATA P LO TTE D : NOVEMBER PREPARED BY FEDERAL RESERVE BANK OF S T . RATI O SCALE PRODUCER P R I C E S 1967=100 R ATI O L O U IS SCALE SEASONALLY ADJUSTED PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER IO D S IN D IC A T E D . LA TE ST DATA P LO TTED * NOVEMBER PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS PRODUCER PRICE IN D E X , F IN IS H E D CONSUMER FOOOS - SEASONALLY ADJUSTED* _______________ COMPOUNDED ANNUAL RATES OF CHANGE_____________________________ 4 -8 2 5 -8 2 1967 = IOC IN IT IA L MONTH TERMINAL MONTH 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 11-82 1 2-8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -8 3 2 6 2 .3 3 .3 6 -8 2 4 .4 5 .6 7 -8 2 -3 .6 -6 .9 -1 7 .9 263. 5 8 -8 2 - 2 .5 -4 .3 - 9 .0 0 .9 2 5 9 .2 2 5 9 .4 9 -8 2 - 3 .0 -4 .5 -7 .7 - 2 .1 -5 .0 10-8 2 -2 .6 -3 .7 -5 .9 -1 .5 -2 .7 -0 .5 11-82 - 2 .2 -3 .1 - 4 .8 -1 .2 - 1 .8 -0 .2 12-8 2 -1 .6 -2 .3 -3 .5 -0 .4 -0 .7 0 .8 1 .4 2 .8 1 -8 3 -1 .7 -2 .3 -3 .4 -0 .7 -1 .0 0 .0 0 .2 0 .2 -2 .3 2 -8 3 -0 .3 -0 .7 - 1 .5 1 .1 1 .2 2 .4 3 .2 4 .2 5 .0 1 2 .8 3 -8 3 -0 .1 -0 .4 -1 .1 1 .3 1 .3 2 .4 3 .0 3 .8 4 .1 7 .4 2 .3 4—8 3 1 .0 0 .8 0 .3 2 .6 2 .8 3 .9 4 .7 5 .7 6 .4 9 .5 7 .8 1 3 .6 5 -8 3 0 .5 0 .2 -0 .2 1 .7 1 .8 2 .7 3 .1 3 .7 3 .8 5 .4 3 .1 3 .5 - 5 .7 6 -8 3 - 0 .1 - 0 .3 -0 .8 0 .9 0 .9 1 .6 1 .9 2 .1 2 .0 2 .9 0 .6 0 .0 -6 .2 - 6 .6 7 -8 3 -0 .6 -0 .9 -1 .4 0 .1 0 .0 0 .6 0 .7 0 .8 0 .5 0 .9 -1 .3 -2 .2 -6 .9 -7 .5 -8 .4 8 -8 3 -0 .3 -0 .5 -0 .9 0 .5 0 .5 1 .0 1 .2 1 .3 l.l 1 .6 -0 .2 -0 .6 -3 .9 -3 .3 -1 .6 5 .7 9 -8 3 0 .2 0 .0 - 0 .3 1 .1 1 .1 1 .6 1 .8 2 .0 1 .9 2 .4 1 .0 0 .8 -1 .6 -0 .6 1 .5 6 .9 8 .1 00 1 o 0 .9 0 .8 0 .5 1 .9 1 .9 2 .5 2 .7 3 .0 3 .0 3 .6 2 .5 2 .6 0 .8 2 .2 4 .5 9 .2 1 1 .1 1 1 -8 3 0 .3 0 .1 - 0 .2 1 .0 1 .0 1 .5 1 .6 1 .7 1 .6 2 .0 0 .9 0 .7 - 1 .0 -0 .2 1 .2 3 .7 3 .1 0 .7 -1 1 .1 4 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0-8 2 11-82 12-82 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -8 3 2 5 8 .3 2 5 8 .2 0 .0 2 5 8 .2 2 5 8 .8 2 5 8 .3 26C .9 2 6 1 .4 2 6 4 .2 2 6 2 .9 2 6 1 .4 2 5 9 .5 2 6 0 .7 2 6 2 .4 1 4 .1 2 6 5 .3 2 6 2 .7 IN IT IA L MUNtH ♦DATA FUR FOUR MONTHS AGO REVISED TU REFLECT LATE REPORTING PRODUCER PRICE INDEX, FINISHED GOOOS, EXCLUDING FOUDS - SEASONALLY ADJUSTED* ________________________ COMPOUNDED ANNUAL KATES OF CHANGE___________________ TERMINAL MONTH IN IT IA L MONTH 4 -8 2 5 -8 2 6 -8 2 7 -8 2 5 -8 2 -1 .3 6 -8 2 6 .6 1 5 .1 7 -8 2 9 .1 1 4 .8 1 4 .4 8 -8 2 8 .6 1 2 .1 1 0 .6 6 .9 9 -8 2 7 .4 9 .7 8 .0 4 .9 8 -8 2 9 -8 2 1 0 -8 2 1 1-8 2 12-8 2 1 -8 3 2 -8 3 1967 = 100 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0 -6 3 2 8 0 .1 2 8 3 .4 2 8 6 .6 2 8 8 .2 3 .0 2 8 8 .9 <VI 00 1 o 7 .2 9 .0 7 .5 5 .3 4 .5 6 .0 11-82 7 .5 9 .0 7 .9 6 .3 6 .1 7 .7 9 .5 8 .3 7 .3 5 .9 5 .6 6 .5 6 .8 2 9 0 .3 2 9 2 .5 1 -8 3 4 .4 5 .1 3 .7 2 .0 1 .1 0 .6 - 1 .1 - 6 .0 -1 5 .2 2 -8 3 3 .8 4 .4 3 .1 1 .6 0 .7 0 .2 - 1 .1 - 4 .4 -8 .5 - 1 .2 3 -8 3 3 .0 3 .4 2 .2 0 .8 - 0 .1 -0 .6 - 1 .8 - 4 .4 -7 .2 -2 .9 - 4 .5 4 -8 3 2 .4 2 .7 1 .6 0 .2 -0 .6 - 1 .1 -2 .2 -4 .4 -6 .4 -3 .3 -4 .3 -4 . 1 5 -8 3 2 .6 3 .0 1 .9 0 .8 0 .1 -0 .3 - 1 .1 - 2 .8 -4 .1 - l.l -1 .1 0 .6 1 <\j CO 7 .1 4 .2 2 9 3 .5 2 8 9 .5 2 8 9 .2 2 8 8 .1 2 8 7 .1 5 .6 2 8 8 .4 6 -8 3 3 .2 3 .5 2 .6 1 .6 1 .1 0 .9 0 .3 -1 .0 -1 .8 1 .1 1 .7 3 .8 8 .0 1 0 .5 7 -8 3 3 .2 3 .6 2 .7 1 .8 1 .4 1 .2 0 .7 -0 .4 - 1 .0 1 .6 2 .2 3 .9 6 .7 7 .3 4 .2 8 -8 3 3 .3 3 .6 2 .9 2 .0 1 .6 1 .5 1 .1 0 .2 -0 .3 2 .0 2 .6 4 .0 6 .2 6 .4 4 .4 4 .6 9 -8 3 3 .2 3 .4 2 .7 1 .9 1 .5 1 .4 1 .0 0 .2 - 0 .2 1 .8 2 .3 3 .4 5 .0 4 .9 3 .1 2 .5 0 .4 1 0-8 3 3 .0 3 .3 2 .6 1 .8 1 .5 1 .3 1 .0 0 .2 -0 .2 1 .7 2 .0 3 .0 4 .2 4 .0 2 .4 1 .8 0 .4 0 .4 1 1 -8 3 2 .9 3 .1 2 .5 1 .8 1 .4 1 .3 1 .0 0 .3 - 0 .0 1 .6 1 .9 2 .8 3 .8 3 .5 2 .2 1 .7 0 .7 0 .8 4 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2-8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 2 9 0 .8 2 9 1 .8 2 9 2 .9 2 9 3 .0 2 9 3 .1 1 .2 2 9 3 .4 9 -8 3 1 0 -8 3 IN IT IA L MONTH ♦DATA FOR FOUR MONTHS AGO REVISED TO REFLECT LATE REPORTING PREPARED BY FEDERAL RESERVE BANK OF S T . L U U lS DECEMBER 1 6 , 1 9 8 3 6 INDUSTRIAL PRODUCTION R A T I O SCALE B A T I O SCALE 1967-100 160 1967*100 160 SE AS O N A L L Y ADJU ST ED ........... . T ' +*•02^ 1 155 ' 1 5 6 .3 / 155 150 145 ; 150 i 145 7 140 -/S.6JTn -15. 140 9A J f n \2Z (V +5. y 135 135 -6 . 4 K ~ ^ 130 130 ! 125 125 +Ì6. tzjJ 120 120 / 115 115 V 1 10 1 10 105 100 » i ï ♦ < t 1975 1976 1977 Ì L % ♦ 1978 \___ £ ! 1979 $ i -L .L . 1980 ¿; * i H i_ 1981 105 1 § 1 1 ♦ t 1982 100 1983 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: NOVEMBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RATES OF CHANGt: TERMINAL MONTH IN IT IA L MONTH 4 -8 2 5 -8 2 6 -8 2 5 -8 2 -8 .2 6 -8 2 - 6 .3 -4 .2 7 -8 2 - 3 .9 - 1 .7 0 .9 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 12-8 2 1 -8 3 2 -8 3 1967 = ICO 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 9 -8 3 1 0 -8 3 1 3 9 .2 1 3 8 .7 1 3 8 .tí 8 -8 2 -3 .8 - 2 .3 - 1 .3 - 3 .4 9 -8 2 -4 .9 -4 .0 - 4 .0 -6 .3 -9 .1 1 0 -8 2 - 6 .3 - 5 .9 -6 .3 -8 .6 -1 1 .1 -1 3 .1 1 1 -8 2 - 6 .4 - 6 .1 -6 .4 -8 .2 -9 .7 -1 0 .0 —6 .8 1 2 -8 2 - 5 .3 - 4 .9 - 5 .0 -6 .1 -6 .8 -6 .0 -2 .2 2 .7 1 -8 3 -2 .7 -1 .9 - 1 .6 - 2 .0 - 1 .7 0 .2 5 .1 1 1 .6 2 1 .4 2 -8 3 -1 .8 -1 .1 —0 . 6 - 0 .9 -0 .4 1 .4 5 .4 9 .8 1 3 .6 6 .3 3 -8 3 - 0 .2 0 .7 1 .3 1 .3 2 .0 4 .0 7 .8 1 1 .8 1 5 .0 1 1 .9 1 7 .8 4 -8 3 1 .7 2 .7 3 .4 3 .7 4 .6 6 .7 1 0 .4 1 4 .3 1 7 .3 1 6 .0 2 1 .2 2 4 .7 5 -8 3 2 .8 3 .7 4 .5 4 .9 5 .8 7 .9 1 1 .2 1 4 .6 1 7 .1 1 6 .1 1 9 .5 2 0 .4 1 6 .2 6 -8 3 3 .8 4 .8 5 .6 6 .0 7 .0 8 .9 1 2 .1 1 5 .1 1 7 .3 1 6 .4 1 9 .1 1 9 .6 1 7 .1 1 7 .9 5 .4 6 .4 7 .3 7 .9 8 .9 1 0 .9 1 4 .0 1 6 .9 1 9 .1 1 8 .7 2 1 .4 2 2 .3 2 1 .5 2 4 .1 3 0 .7 8 -8 3 6 .1 7 .2 8 .0 8 .6 9 .7 1 1 .6 1 4 .4 1 7 .0 1 9 .0 1 8 .6 2 0 .8 2 1 .4 2 0 .6 2 2 .1 2 4 .3 1 8 .2 1 00 w 8 -8 3 1 3 8 .4 1 3 7 .3 1 35. 7 1 3 4 .9 1 3 5 .2 1 3 7 .4 1 3 8 .1 1 4 0 .0 1 4 2 .6 1 4 4 .4 1 4 6 .4 1 4 9 .7 1 5 1 .8 9 -8 3 6 .8 7 .8 8 .7 9 .3 1 0 .3 1 2 .1 1 4 .7 1 7 .1 1 8 .9 1 8 .5 2 0 .4 2 0 .8 2 0 .1 2 1 .1 2 2 .1 1 8 .1 1 7 .9 1 0 -8 3 7 .0 7 .9 8 .7 9 .3 1 0 .3 1 1 .9 1 4 .3 1 6 .4 1 7 .9 1 7 .5 1 9 .0 1 9 .2 1 8 .3 1 8 .7 1 8 .9 1 5 .2 1 3 .8 9 .8 1 1 -8 3 7 .1 8 .0 8 .8 9 .3 1 0 .2 1 1 .7 1 3 .9 1 5 .9 1 7 .1 1 6 .7 1 7 .9 1 8 .0 1 7 .0 1 7 .2 1 7 .0 1 3 .8 1 2 .4 9 .7 4 -8 2 5—82 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1-8 2 1 2-8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 In it ia l 1 5 3 .9 1 5 5 .I r 9 .7 1 5 6 .3 h 9 -8 3 10-8 3 month P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF i T . DECEMBER 1 5 , 1 9 8 3 7 LOUIS PERSONAL RATIO SCALE TR ILLIO N S I N CO ME RATIO MONTHLY TOTALS AT ANNUAL RATES OF D O L L A R S TR ILLIONS SEASONALLY ADJUSTED SCALE OF D OL L A R S 3.0 2.9 2.8 2.7 2.6 2.5 2.4 2.3 2.2 2. 1 2 .0 1.9 1.8 1.7 1 .6 1.5 1.4 1.3 1 .2 1. 1 1. 0 1975 1976 1977 1978 1 97 9 1980 1981 1 982 1983 SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: NOVEMBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL INCOME COMPOUNDED ANNUAL RATES OP CHANGE TERMINAL MONTH INITIAL MONTH 4-82 5-82 5-82 9.3 6-82 5.7 2.1 7-82 6.6 5.2 6-8 2 7-8 2 8-82 9-82 10-82 11-82 12-82 1-83 2-83 3-83 4-83 6-83 7-83 2.572 .5 2.589 -8 4.5 2.9 3.4 -1.4 4.6 3.5 3.9 1.8 5.1 10-8? 5.5 4.7 5.4 4.4 7.4 9.8 11-82 5.7 5.1 5.7 5.1 7.4 8.5 7.2 12-82 5.7 5.2 5.7 5.2 6.9 7.5 6.4 5.6 1-83 5.5 5.0 5.4 4.9 6.2 6.5 5.4 4.5 3.5 2-83 4.8 *.3 4.6 4.1 5.0 5.0 3.8 2.7 1.3 -0.9 3-83 5.2 4.8 5.1 4.7 5.6 5.7 4.9 4.3 3.9 4.0 9.2 4-83 5.5 5.2 5.5 5.1 6.0 6.1 5.5 5.2 5.1 5.6 9.0 8.8 6.2 5.9 6.2 6.0 6.9 7.1 6.7 6.7 6.9 7.7 10.8 11.6 14.4 2.581» .7 2.597 .4 2.617 .8 2,633.1 2.645 .0 2.652 .6 2.650 .5 2.670 •1 2.689 .0 2.719 .3 6-83 6.1 5.9 6.2 6.0 6.8 7.0 6.6 6.6 6.7 7.4 9.6 9.7 10.1 6.0 7-83 6.2 6.0 6.3 6.1 6.8 7.0 6.7 6.6 6.7 7.3 9.0 9.0 9.0 6.4 6.8 3-83 6.0 5.8 6.1 5.9 6.6 6.7 6.4 6.3 6.4 6.8 8.2 7.9 7.7 5.6 5.3 3.9 9-83 11-83 9-8 3 10-63 8.4 8-82 ____ K)-83 8-83 2.568 -O 9-82 5-83 5-83 BILLIONS IOF DOLLARS ANNUAL RATES 2,732.6 2.747 .6 2.756,.4 6.4 6.2 6.5 6.3 6.9 7.1 6.8 6.8 6.9 7.4 8.6 8.5 8.5 7.0 7.4 7.7 II.5 __ 6.8 6.6 6.9 6.8 __7.4 J.6 7.4 7.4 7.6 8.1 9.3 9.3 9.3 8.4 9.0 9.7 12.7 13.9 6.9 6.7 7.0 6.9 7.5 7.7 7.5 7.6 7.7 8.2 9.2 9.2 9.3 8.5 9.0 9.5 11.5 11.4 4-82 5-82 6-82 7-32 8-82 9-82 10-82 11-82 12-82 1-83 2-83 3-83 4-83 5-83 6-8 3 7-83 8-83 9-8 3 10-83 2.781,.6 2.811,.9 9-1 2.83?. INITIAL MONTH P- PRELIMINARY 8 PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS DECEMBER 2 0 , 1 9 8 3 RETAIL RATIO SALES SCALE B ILLIO NS OF 1975 RATIO DOLLARS 1976 B ILLIO NS S E A S O N A L L Y AD JU ST ED 1977 1978 Î979 1980 1981 1982 SCALE OF D O L L A R S 1 98 3 SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: OCTOBER, NOVEMBER ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS R ETAIL SALES COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH IN IT IA L MONTH 4 -8 2 5 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 1 0 -8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 M IL L IO N S ÜfDULLAKS 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 - 8 3 1 0 -8 3 3 6 .9 9 0 .8 1 3 0 .9 - 2 5 .6 7 -8 2 4 .6 —8 .6 1 2 .4 8 -8 2 2 .1 -7 .5 3 .2 - 5 .2 9 -8 2 3 .9 -3 .0 6 .0 2 .9 1 1 .7 1 0 -8 2 5 .6 0 .2 8 .0 6 .6 1 3 .0 1 4 .3 1 1 -8 2 7 .9 3 .7 1 0 .9 1 0 .5 1 6 .3 1 8 .6 2 3 .1 1 2 -8 2 6 .8 3 .1 8 .9 8 .2 1 1 .9 1 1 .9 1 0 .7 -0 .4 1 -8 3 5 .8 2 .5 7 .2 6 .4 8 .9 8 .2 6 .3 - 1 .3 -2 .1 3 .7 0 .5 4 .4 3 .3 4 .8 3 .4 0 .9 -5 .6 -8 .1 3 -8 3 5 .9 3 .2 7 .1 6 .4 8 .2 7 .6 6 .3 2 .5 3 .5 6 .5 3 1 .4 4 -8 3 7 .9 5 .6 9 .3 9 .0 1 0 .9 1 0 .8 1 0 .2 7 .8 1 0 .0 1 4 .4 3 1 .7 3 2 .1 5 -8 3 1 0 .4 8 .4 1 2 .2 1 2 .1 1 4 .3 1 4 .6 1 4 .6 1 3 .3 1 6 .2 2 1 .3 3 5 .9 3 8 .2 4 4 .7 6 -8 3 1 0 .3 8 .5 1 1 .9 1 1 .9 1 3 .8 1 4 .0 1 3 .9 1 2 .7 1 5 .1 1 8 .8 2 8 .7 2 7 .9 2 5 .8 9 .4 7 -8 3 9 .9 8 .2 1 1 .3 1 1 .2 1 2 .9 1 3 .0 1 2 .8 1 1 .6 1 3 .4 1 6 .3 2 3 .4 2 1 .5 1 8 .2 6 .8 4 .3 8 -8 3 7 .8 6 .1 8 .8 8 .6 9 .8 9 .6 9 .2 7 .7 8 .8 1 0 .4 1 5 .1 1 2 .1 7 .6 -2 .5 -8 .0 -1 8 .9 9 -8 3 8 .4 6 .9 9 .5 9 .3 1 0 .5 1 0 .4 1 0 .0 8 .8 9 .8 1 1 .4 1 5 .6 1 3 .1 9 .7 2 .4 0 .1 -1 .9 1 8 .6 1 0 -8 3 8 .9 7 .5 1 0 .0 9 .8 1 1 .0 1 0 .9 1 0 .6 9 .6 1 0 .6 1 2 .1 1 5 .9 1 3 .8 11 0 5 .3 4 .3 4 .3 1 8 .3 1 7 .9 1 1 -8 3 9 .7 8 .4 1 0 .8 1 0 .7 1 1 .9 1 1 .9 1 1 .7 1 0 .8 1 1 *9 1 3 .4 1 6 .8 1 5 .1 1 2 .9 8 .3 8 .1 9 .1 2 0 .4 2 1 .4 2 4 .9 4 -8 2 5 -8 2 6 -8 2 7 -8 2 8 -8 2 9 -8 2 10-8 2 1 1 -8 2 1 2 -8 2 1 -8 3 2 -8 3 3 -8 3 4 -8 3 5 -8 3 6 -8 3 7 -8 3 8 -8 3 9 -8 3 1 0-8 3 « « 1 6 -8 2 8 8 *6 0 3 8 9 ,4 6 9 89#069 8 9 .6 9 7 9 0 .9 0 5 9 2 .4 9 2 9 2 .4 5 9 9 2 ,2 9 5 -1 3 .8 9 1 .1 6 4 9 3 .2 6 3 9 5 ,4 4 9 9 8 .4 3 1 9 9 .1 7 3 9 9 ,5 2 1 9 7 .8 0 1 9 9 .2 0 2 1 0 0 .5 7 3 ¥ 1 0 2 .4 5 7 t IN IT IA L MONTH P - PRELIMINARY E - ESTIMATED A 9 PREPAREO BY FEDERAL RESERVE BANK OF S T . DECEMBER 1 3 , 1 9 8 3 LOUIS HOURLY COMPENSATION» BUSINESS SECTOR COMPOUNDED ANNUAL RATES OF CHAMBE T E R M IN A I L I N I JLLALJQUARTER -1 9 7 7 - ^ lOO QUARTER 4 -7 8 1 -7 9 2 -7 9 3 —7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -a o 1 -7 9 1 1 .1 2 -7 9 9 .9 8 .6 3 -7 9 1 0 .0 9 .4 1 0 .2 4 -7 9 9 .6 9 .1 9 .4 8 .6 1 -8 0 9 .9 9 .6 1 0 .0 9 .9 2 -8 0 1 0 .3 1 0 .1 1 0 .5 1 0 .5 1 1 .5 1 1 .9 3 -8 0 1 0 .2 1 0 .0 1 0 .3 1 0 .3 1 0 .9 1 0 .7 4 -8 0 1 0 .1 9 .9 1 0 .2 1 0 .2 1 0 .6 1 0 .4 9 .6 9 .7 1 -8 1 1 0 .2 1 0 .1 1 0 .3 1 0 .4 1 0 .7 1 0 .6 1 0 .2 1 0 .5 1 1 .3 i- a i M l 3 -a i 4 —111 l- A ? 1 -** 1 1 5 .2 ........... 1 1 7 .6 ... - 1 2 0 .5 ........ 1 2 3 *0 1 1 .2 1 2 6 .3 9 .6 132^9 1 3 A .0 2 -8 1 9 .9 9 .8 1 0 .0 9 .9 1 0 .2 1 0 .0 9 .5 9 .4 9 .3 7 .4 3 -8 1 9 .9 9 .8 9 .9 9 .9 1 0 .1 9 .9 9 .5 9 .5 9 .4 8 .5 9 .6 4 -8 1 9 .7 9 .6 9 .7 9 .6 9 .8 9 .6 9 .2 9 .1 9 .0 8 .2 8 .6 7 .6 1 -8 2 9 .7 9 .6 9 .7 9 .6 9 .7 9 .6 9 .2 9 .2 9 .1 8 .5 8 .9 8 .6 9 .5 IS) 1 GO N 1 3 9 .7 9 .4 9 .3 9 .4 9 .3 9 .4 9 .2 8 .8 8 .7 8 .6 8 .1 8 .2 7 .8 7 .8 6 .2 1 4 2 -2 1 4 5 -5 1 4ft - 2 1 5 1 .6 1 5 3 -9 3 -8 2 9 .3 9 .1 9 .2 9 .1 9 .2 9 .0 8 .6 8 .5 8 .4 7 .9 8 .0 7 .6 7 .5 6 . 6 .... 6 . 9 4 -8 2 9 .1 8 .9 8 .9 8 .8 8 .9 8 .7 8 .3 8 .2 8 .0 7 .6 7 .6 7 .2 7 .1 6 .3 6 .3 5 .7 1 -8 3 8 .8 8 .7 8 .7 8 .6 8 .6 8 .4 8 .0 7 .9 7 .7 7 .3 7 .2 6 .8 6 .7 6 .0 5 .9 5 .4 2 -8 3 8 .5 8 .4 8 .4 8 .2 8 .2 8 .0 7 .7 7 .5 7 .3 6 .8 6 .8 6 .4 6 .2 5 .5 5 .3 3 -8 3 8 .3 8 .2 8 .2 8 .0 8 .0 7 .8 7 .5 7 .3 7 .1 6 .7 6 .6 6 .2 6 .0 5 .5 5 .3 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 1 5 A -5 1 5 ft.7 5- 1 1 4 .8 4 -3 3 .* » 1 A 2 -1 4 .9 4 .6 4 .4 5 .3 4 -8 2 1 -8 3 2 -8 3 -7 1 *» A -2 IN IT IA L QUARTER OUTPUT PER HOUR OF ALL PERSONS» BUSINESS SECTOR _________COMPOUNDED ANNUAL RATES OF CHANGE________ TERMINAL QUARTER IN IT IA L QUARTER 4 -7 8 1 -7 9 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 1977 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 = to o 2 -8 3 - 1 .6 1 0 0 . .4 2 -7 9 -2 .0 -2 .4 3 -7 9 -2 .0 -2 .2 -2 .0 4 -7 9 -1 .7 -1 .7 -1 .4 -0 .8 1 -8 0 - 1 .2 -1 .1 - 0 .7 0 .0 0 .8 - 1 .5 -1 .3 -1 .1 -1 .2 ................ .......... _ 9 9 ,- 3 99,.1 99. 3 -8 0 - 1 .1 -1 .0 - 0 .7 -0 .4 - 0 .3 -0 .8 1 .6 - 0 .8 -0 .7 - 0 .5 -0 .2 0 .0 - 0 .3 1 .2 0 .8 0 00 1 0 00 1 (SJ -1 .5 .3 - 3 .2 98,.5 98,*9 99 .1 -0 .1 0 .0 0 .4 0 .8 1 .1 1 .2 2 .7 3 .3 5 .8 0 .1 0 .3 0 .6 1 .0 1 .3 1 .4 2 .6 3 .0 4 .1 2 .4 3 -8 1 0 .5 0 .8 1 .1 1 .5 1 .8 2 .0 3 .1 3 .4 4 .3 3 .6 4 .8 4 -8 1 0 .1 0 .3 0 .6 0 .8 1 .1 1 .1 1 .8 1 .9 2 .1 0 .9 0 .2 - 4 .2 1 -8 2 0 .1 0 .2 0 .5 0 .7 0 .9 0 .9 1 .5 1 .5 1 .6 0 .6 0 .0 - 2 .3 - 0 .4 2 -8 2 -0 .0 0 .1 0 .3 0 .5 0 .6 0 .6 1 .1 1 .0 1 .1 0 .2 -0 .4 -2 .1 -1 .0 -1 .6 00 1 0 .1 0 .2 0 .4 0 .6 0 .7 0 .7 1 .2 1 .1 i . i 0 .4 0 .0 -1 .2 -O .i 0 .0 1 .6 4 -8 2 0 .3 0 .4 0 .6 0 .8 0 .9 0 .9 1 .4 1 .3 1 .4 0 .8 0 .5 -0 .3 0 .7 1 .1 2 .4 3 .2 1 .5 1 .0 0 .8 0 .1 1 .0 1 .4 2 .4 2 .8 N 1 -8 1 2 -8 1 1ÛÛ -5 101 .1 102,.3 ..... 101..2 101,.1 10CL.7 101 . 1 101,.9 1 -8 3 0 .4 0 .5 0 .7 0 .9 1 .0 1 .1 1 .5 1 .4 2 -8 3 0 .7 0 .8 1 .0 1 .2 1 .3 1 .4 1 .8 1 .8 1 *9 1 .4 1 .3 0 .8 1 .7 2 .1 3 .6 3 .8 5 .2 3 -8 3 0 .8 0 .9 1 .1 1 .3 1 .5 1 .5 1 .9 __ 1 .9 2 .0 1 .7 1 .6 1 .2 2 .0 2 .4 __ 3 .2 3« 6 . 3 .7 4 .3 3 .5 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 4 -8 2 1 -8 3 2 -8 3 99, .8 2 -8 0 3 -8 0 1 -8 2 2 -8 2 3 -8 2 2 .4 1 0 2 .. 5 1 0 3 .. 8 1 0 4 .7 IN IT IA L QUARTER 10 PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS N0VEMBER3Q* 1 9 8 3 PRODUCTIVITY, COMPENSATION, AND LABOR COSTS RATI O SCALE R AT I O 1977-100 SCALE 1977-100 SEASONALLY ADJUSTED SOURCE: U . S . DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S IN D IC A T E D . LATE ST DATA PLOTTED« 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS U NIT LABOR COSTS« BUSINESS SECTOR COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER IN IT IA L QUARTER 4 -7 8 1 -7 9 1 -7 9 1 2 .8 2 -7 9 1 1 .8 1 0 .9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 4 -8 1 1 -8 2 7 -R ? 3 -8 ? 4 -fl7 1- * 3 7 -R 3 1 1 4 . r« 1 17i 3 -7 9 1 2 .0 1 1 .6 1 2 .4 4 -7 9 1 1 .4 1 0 .9 1 1 .0 9 .6 1 -8 0 1 1 .3 1 0 .9 1 0 .9 1 0 .1 1 0 .7 2 -8 0 1 1 .9 1 1 .7 1 2 .0 1 1 .8 1 3 .0 1 5 .3 1 1 .3 1 1 .1 1 1 .1 1 0 .8 1 1 .2 1 1 .5 4 -8 0 1 1 .0 1 0 .7 1 0 .7 1 0 .4 1 0 .6 1 0 .5 8 .2 8 .6 1 -8 1 1 0 .3 1 0 .0 9 .9 9 .5 9 .5 9 .2 7 .2 7 .0 5 .4 2 -8 1 9 .8 9 .5 9 .3 8 .8 8 .7 8 .3 6 .7 6 .3 5 .2 5 .0 3 -8 1 9 .3 9 .0 8 .8 8 .3 8 .1 7 .7 6 .3 5 .9 5 .0 4 .8 4 .6 4 -8 1 9 .5 9 .2 9 .1 8 .7 8 .6 8 .3 7 .2 7 .1 6 .7 7 .2 8 .3 1 2 .0 <\j CO 1 9 .6 9 .3 9 .2 8 .8 8 .8 8 .5 7 .6 7 .5 7 .3 7 .8 8 .8 li.O 9 .9 N CD 1 INI 9 .5 9 .2 9 .1 8 .8 8 .7 8 .5 7 .7 7 .6 7 .5 7 .9 8 .7 1 0 .1 9 .1 8 .2 1 GO O = in n 1977 3 -81 1 7 1 .. 3 1 7 4 .a 127. 1 3 1 .. 9 7 .8 1 3 4 .. 4 1 3 7 ..7 1 3 9 .-O 1 4 0 . >7 1 4 2 , ,3 144».. 4 1 4 9 .. 9 1 3 -8 2 9 .2 8 .9 8 .7 8 .4 8 .3 8 .1 7 .3 7 .3 7 .1 7 .4 7 .9 8 .7 7 .6 6 .5 4 .8 4 -8 2 8 .7 8 .4 8 .3 8 .0 7 .8 7 .6 6 .8 6 .7 6 .5 6 .7 6 .9 7 .4 6 .3 5 .1 3 .6 2 .3 1 -8 3 8 .4 8 .1 7 .9 7 .6 7 .5 7 .2 6 .5 6 .4 6 .1 6 .2 6 .4 6 .7 5 .7 4 -7 3 .5 2 .9 3 -4 2 -8 3 7 *8 7 .5 7 .3 7 .0 6 .8 6 .5 5 .8 5 .6 5 .3 5 .3 5 .4 5 .5 4 .4 3 .3 7 -7 1 .3 O -ft 3 -8 3 7 .5 7 .2 7 .0 6 .6 6 .5 6 .2 5 .5 5 .3 5 .0 5 .0 5 .0 5 .0 4 .0 3 .1 2 .1 1 .4 1 .1 0 -0 1 -8 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 r9 1 *i4 .. 7 •6 »9 -I.« 1 ** * i? .9 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS GROSS NATIONAL PRODUCT IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE B IL L IO N S OF DOLLARS ANNUAL KATES IN IT IA L QUARTER TERMINAL QUARTER 4 -7 8 1 -7 9 1 -7 9 9 .8 2 -7 9 8 .6 7 .5 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4—81 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 * 3 3 5 .5 2 ,3 7 7 . 9 1 0 .5 1 3 .6 9 .7 9 .7 1 0 .8 8 .1 1 -8 0 1 0 .1 1 0 .2 1 1 .1 9 .9 1 1 .7 8 .5 8 .3 8 .4 6 .8 6 .2 3 -8 0 8 .7 8 .5 8 .7 7 .5 7 .3 5 .2 9 .7 4 -8 0 9 .5 9 .5 9 .8 9 .1 9 .3 8 .5 1 2 .6 1 5 .5 1 -8 1 1 0 .7 1 0 .8 1 1 .3 1 0 .9 1 1 .5 1 1 .4 1 5 .2 1 8 .0 2 0 .5 2 -8 1 1 0 .3 1 0 .3 1 0 .7 1 0 .3 1 0 .6 1 0 .4 1 2 .9 1 4 .0 1 3 .3 6 .6 3 -8 1 1 0 .5 1 0 .6 1 1 .0 1 0 .6 1 1 .0 1 0 .9 1 3 .0 1 3 .9 1 3 .3 9 .9 1 3 .3 4 -8 1 9 .9 1 0 .0 1 0 .2 9 .8 1 0 .1 9 .8 1 1 .4 1 1 .7 1 0 *8 7 .8 8 .4 3 .7 1 -8 2 9 .0 9 .0 9 .1 8 .7 8 .7 8 .4 9 .5 9 .4 8 .3 5 .4 5 .0 1 .1 -1 .4 2 -8 2 8 .9 8 .8 8 .9 8 .5 8 .5 8 .2 9 .1 9 .0 8 .0 5 .6 5 .4 2 .9 2 .5 6 .6 3 -8 2 8 .4 8 .3 8 .4 8 .0 8 .0 7 .6 8 .4 8 .2 7 .2 5 .1 4 .9 2 .9 2 .6 4 .6 4 -8 2 8 .0 7 .9 8 .0 7 .5 7 .5 7 .1 7 .8 7 .6 6 .6 4 .8 4 .5 2 .8 2 .6 3 .9 2 .6 2 .5 1 -8 3 8 .1 7 .9 8 .0 7 .6 7 .6 7 .2 7 .8 7 .6 6 .8 5 .2 5 .0 3 .7 3 .7 5 .0 4 .4 5 .3 8 .2 2 -8 3 8 .3 8 .3 8 .3 8 .0 8 .0 7 .7 8 .3 8 .1 7 .4 6 .1 6 .0 5 .0 5 .2 6 .6 6 .6 7 .9 1 0 .7 1 3 .3 8 .5 8 .4 8 .5 8 .2 8 .2 7 .9 8 .5 8 .4 7 .8 6 .6 6 .6 5 .8 6 .1 7 .4 7 .5 8 .8 1 1 .0 1 2 .4 1 1 .5 4 -7 8 “ 1—79 2 -7 9 3 -7 9 4 -7 9 1—80 Z—80 3 -8 0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 0 1 CO 1 0 .2 PsJ 3 -7 9 4 -7 9 3 -8 3 2 * 4 5 4 .8 2 ,5 0 2 . 9 2 .5 7 2 . 9 0 .9 2 ,5 7 8 . 8 2 ,6 3 9 . 1 2 ,7 3 6 . 0 2 ,8 6 6 .6 2 ,9 1 2 . 5 3 ,0 0 4 . 9 3 ,0 3 2 . 2 3 ,0 2 1 . 4 3 ,0 7 0 . 2 2 .7 3 ,0 9 0 . 7 3 ,1 0 9 . 6 3 ,1 7 1 . 5 3 ,2 7 2 . 0 3 ,3 6 2 . 2 IN IT IA L QUARTER GROSS NATIONAL PRODUCT IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER B ILLIO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -7 9 1 .1 2 -7 9 0 .1 -0 .9 3 -7 9 1 .7 1 .9 4 .8 4 -7 9 1 .4 1 .5 2 .8 0 .7 1 -8 0 1 .5 1 .6 2 .5 1 .3 1 .9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 .4 7 2 . 6 1 .4 6 9 . 2 1 * 4 8 6 .6 1 » 4 8 9 .3 1 * 4 9 6 .4 2 -8 0 -0 .3 -0 .6 -0 .5 -2 .3 -3 .7 -9 .0 3 -8 0 - 0 .2 -0 .4 -0 .3 - 1 .5 -2 .2 - 4 .3 0 .8 4 -8 0 0 .3 0 .2 0 .4 -0 .5 -0 .8 - 1 .6 2 .3 3 .8 1 -8 1 1 .3 1 .3 1 .6 1 .1 1 .1 0 .9 4 .5 6 .4 9 .0 2 -8 1 1 .2 1 .2 1 .5 1 .0 1 .0 0 .9 3 .5 4 .4 4 .7 1 ,4 6 1 . 4 1 ,4 6 4 .2 1 * 4 7 7 .9 1 * 5 1 0 .1 0 .6 1 * 5 1 2 .5 3 -8 1 1 .4 1 .4 1 .7 1 .3 1 .4 1 .3 3 .5 4 .2 4 .3 2 .1 3 .6 4 -8 1 0 .9 0 .8 1 .0 0 .6 0 .6 0 .4 2 .1 2 .3 2 .0 -0 .3 -0 .7 -4 .9 1 ,5 2 5 .8 1 ,5 0 6 .9 1 ,4 8 5 .8 1 -8 2 0 .4 0 .3 0 .4 -0 .0 - 0 .1 -0 .4 1 .0 1 .0 0 .4 -1 .6 -2 .3 -5 .2 -5 .5 2 -8 2 0 .4 0 .3 0 .5 0 .1 0 .0 -0 .2 1 .0 1 .0 0 .5 - l.l -1 .5 - 3 .2 -2 .3 0 .9 3 -8 2 0 .3 0 .3 0 .3 -0 .0 -0 .1 - 0 .3 0 .7 0 .7 0 .3 -1 .1 -1 .4 -2 .6 -1 .9 -0 .0 -1 .0 1 ,4 8 9 .3 1 .4 8 5 . 7 4 -8 2 0 .2 0 .1 0 .2 -0 .1 -0 .2 -0 .4 0 .5 0 .5 0 .1 -1 .1 -1 .4 - 2 .4 -1 .7 - 0 .5 -1 .2 -1 .3 1 -8 3 0 .3 0 .3 0 .4 0 .1 0 .0 -0 .1 0 .7 0 .7 0 .4 -0 .7 -0 .8 -1 .6 -0 .9 0 .3 0 .1 0 .6 2 .6 2 -8 3 0 .8 0 .8 0 .9 0 .7 0 .7 0 .6 1 .4 1 .5 1 .3 0 .4 0 .4 -0 .0 0 .8 2 .1 2 .4 3 .6 6 .1 9 .7 3 -8 3 1 .2 1 .2 1 .3 1 .1 1 .1 1 .1 1 .9 2 .0 1 .8 1 .1 1 .2 0 .9 1 .8 3 .0 3 .4 4 .6 6 .6 8 .7 7 .6 1—7 9 2 -7 9 " 3 -7 9 “ 2 -8 0 3 -8 0 4 -8 0 1 -6 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 4 -7 9 1 -8 Ò 1 ,4 8 0 .7 1 ,4 9 0 .1 1 ,5 2 5 .1 1 ,5 5 3 .4 IN IT IA L QUARTER 12 PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS DECEMBER 2 1 , 1983 GROSS N A T I O N A L PRODUCT RAT 10 S C A L E QUARTERLY TOTALS AT ANNUAL RATES RATIO SCALE SEASONALLY ADJUSTED T R I L L I O N S OF D O L L A R S TRI L L I O N S OF D O L L A R S r .8 3.8 f J---- .* . 1 .7 3.7 f 5» % % .. % .6 3.6 !r> ^ u O .mOOcc .5 3.5 £ tl § */it Q% sTX .4 3.4 £ k ^ P V § fe... .3 3.3 *5 / / +3.9X , . 2 3.2 .. */. /z .n n.s A . I 3 .1 .0 3.0 .9 2.9 + /S. ¿X/ 2.8 CURRENT DOLLAf ¡ s 2 2 2 2 2 H .8 t<■0.9'/// .7 .6 HO. !Xy/j .5 .4 /■ ys .3 2 . 2 2. 1 1n 2.ojy" 2.0 // / . .0 / I .9 s ' 1 .9 1 .8 1 . 8 1 .7 1 .7 +13. I .6 1. 5534 r+ •£1• /fy /f -jl/c fir 1 . 6 +4.SX + /.5X I .5 1 .5 +5.O X ^ -5.2kr -0 5 r O jOy y•u& I .4 1 .3 1. 4 1 .3 1972 DOLLAR! 1 .2 1 .2 * £ I. 1 5 1 .0 1 § ♦ * 1975 s &• * * £ ft; I * % t 1976 19 77 1978 $ $ ■S 1 - ♦ ♦ 5s S $ fc*. I . 1 i t t 1979 i !S 1980 SOURCE: 1981 t t 1982 t 1983 U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: 3RD QUARTER pREpAR£0 By 13 RESERVE g^NK OF ST. LOUIS GENERAL RATIO PRICE INDEX* SCALE RATIO 1972-100 SCALE 1972-100 | 0 5 i X -------------- ----------------- ----------------- u t---------------------------- u -----------------le ----------- u --------------------------- 1975 1976 1 97 7 1 978 1979 1980 1981 1 98 2 1983 *AS USED IN NATIONAL INCOME ACCOUNTS SOURCE: U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INOICATED. LATEST DATA PLOTTED: 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS IM P L IC IT PRICE DEFLATOR FOR GROSS NATIONAL PRODUCT _________ COMPOUNDED ANNUAL RATES OF CHANGE___________ TERMINAL QUARTER IN IT IA L QUARTER 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 1972 = 100 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 -7 9 8 .6 2 -7 9 8 .5 8 .5 3 -7 9 8 .4 8 .4 8 .3 4 —79 8 .2 8 .0 7 .8 1 -8 0 8 .4 8 .4 8 .4 8 .4 9 .6 2 -8 0 8 .9 8 .9 9 .0 9 .3 1 0 .3 1 0 .9 3 -8 0 8 .9 8 .9 9 .0 9 .2 9 .8 9 .9 * 1 00 o 4 -7 8 9 .2 9 .2 9 .4 9 .6 1 0 .2 1 0 .4 1 0 .1 1 1 .3 1 -8 1 9 .3 9 .4 9 .5 9 .7 1 0 .2 1 0 .4 1 0 .2 1 0 .9 1 0 .5 2 -8 1 9 .0 9 .0 9 .1 9 .2 9 .5 9 .5 9 .1 9 .2 8 .2 5 .9 3 -8 1 9 .0 9 .0 9 .1 9 .2 9 .5 9 .5 9 .2 9 .3 8 .6 7 .6 9 .4 4 -8 1 9 .0 9 .0 9 .1 9 .2 9 .4 9 .4 9 .1 9 .2 8 .7 8 .1 9 .2 9 .0 1 -8 2 8 .6 8 .6 8 .7 8 .7 8 .8 8 .8 8 .4 8 .4 7 .8 7 .1 7 .5 6 .6 4 .3 2 -8 2 8 .4 8 .4 8 .4 8 .4 8 .5 8 .4 8 .1 8 .0 7 .4 6 .8 7 .1 6 .3 5 .0 3 -8 2 8 .1 8 .1 8 .0 8 .0 8 .1 7 .9 7 .6 7 .4 6 .9 6 .3 6 .4 5 .6 4 .5 4 .6 3 .7 «NJ «0 1 * 7 .8 7 .8 7 .7 7 .7 7 .7 7 .5 7 .2 7 .0 6 .5 5 .9 6 .0 5 .3 4 .4 4 .4 3 .8 3 .8 1 -8 3 7 .7 7 .6 7 .6 7 .5 7 .5 7 .4 7 .1 6 .9 6 .4 5 .9 5 .9 5 .3 4 .6 4 .7 4 .3 4 .7 5 .5 2 -8 3 7 .4 7 .4 7 .3 7 .2 7 .2 7 .0 6 .7 6 .5 6 .1 5 .6 5 .6 5 .0 4 .4 4 .4 4 .1 4 .2 4 .4 3 .3 3 -8 3 7 .2 7 .2 7 .1 7 .0 7 .0 6 .8 6 .5 6 .3 5 .8 5 .4 5 .3 4 .8 4 .3 4 .2 4 .0 4 .0 4 .1 3 .4 3 .6 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 5 8 .6 0 1 6 1 .8 5 1 6 5 .1 2 7 .3 1 6 8 .0 5 1 7 1 .9 4 1 7 6 .4 6 8 .8 1 8 0 .2 4 1 8 5 .1 3 1 8 9 .8 3 1 * 2 .5 6 1 9 6 .9 4 2 0 1 .2 2 2 0 3 .3 6 5 .6 2 0 6 .1 5 2 0 8 .0 3 2 1 0 .0 0 2 1 2 .8 3 2 1 4 .5 5 2 1 6 .4 4 I N IT IA L QUARTER 14 PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS OECENBER 21« 1983 PERSONAL CONSUMPTION EXPENDITURES IN CURRfNT DOLLARS ___________COMPOUNPEP ANNUAL RATES OF CHANRIS____________ TERMINAL QUARTER B ILLIO N S ÛF DOLLARS ANNUAL RATES IN IT IA L QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 1 -7 9 10*3 2 -7 9 9 .4 8 .5 3 -7 9 1 1 .2 1 1 .7 1 4 .9 4 -7 9 1 1 .8 1 2 .3 1 4 .3 1 3 .7 1 -8 0 1 1 .7 1 2 .0 1 3 .3 1 2 .4 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2—81 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 —8 2 4 -8 2 1 -8 3 2 -8 3 1 « 4 4 6 .3 1 .4 7 6 . 0 1 .5 2 8 .3 1 * 5 7 8 .0 1 1 .2 1 * 6 2 0 .5 2 -8 0 9 .9 9 .8 1 0 .2 8 .6 6 .2 3 -8 0 1 0 .6 1 0 .7 1 1 .1 1 0 .1 9 .0 7 .9 1 4 .8 4 -8 0 1 1.1 1 1 .2 1 1 .7 1 1 .0 1 0 .4 1 0 .1 1 4 .7 1 4 .6 1 -8 1 1 1 .5 1 1 .6 1 2 .1 1 1 .6 1 1 .2 1 1 .2 1 4 .7 1 4 .7 2 -8 1 1 1 .1 1 1 .2 1 1 .5 1 1 .0 1 0 .6 1 0 .5 1 2 .9 1 2 .2 1 1 .1 7 .5 3 -8 1 1 1 .1 1 1 .2 1 1 .5 1 1 .1 1 0 .7 1 0 .6 1 2 .6 1 2 .0 1 1 .2 9 .5 1 1 .4 1 .5 1 * 6 2 6 .4 1 » 6 8 3 .4 1 * 7 4 1 .9 1 .8 0 2 . 8 1 4 .7 1 * 8 3 5 .8 1 * 8 8 6 .1 eo 1 1 0 .5 1 0 .5 1 0 .7 1 0 .3 9 .8 9 .7 1 1 .1 1 0 .4 9 .3 7 .6 7 .6 1 -8 2 1 0 .3 1 0 .3 1 0 .4 1 0 .0 9 .6 9 .4 1 0 .6 9 .9 8 .9 7 .5 7 .6 5 .7 7 .5 2 -8 2 1 0 .0 1 0 .0 1 0 .2 9 .7 9 .3 9 .1 1 0 .1 9 .5 8 .7 7 .5 7 .5 6 .2 7 .3 7 .2 3 -8 2 9 .9 9 .8 9 .9 9 .5 9 .2 9 .0 9 .8 9 .2 8 .5 7 .5 7 .5 6 .5 7 .4 7 .3 7 .5 4 -8 2 9 .7 9 .7 9 .8 9 .4 9 .1 8 .9 9 .6 9 .1 8 .4 7 .5 7 .5 6 .8 7 .5 7 .5 7 .7 3 .9 1 * 9 0 4 .1 1 * 9 3 8 .9 1 .9 7 2 .8 2 * 0 0 8 .8 7 .8 2 » 0 4 6 .9 1 -8 3 9 .5 9 .4 9 .5 9 .1 8 .8 8 .6 9 .2 8 .7 8 .0 7 .2 7 .2 6 .5 7 .0 6 .9 6 .8 6 .5 5 .2 2 -8 3 9 .8 9 .7 9 .8 9 .5 9 .2 9 .0 9 .7 9 .2 8 .7 8 .1 8 .1 7 .7 8 .3 8 .5 8 .8 9 .3 1 0 .0 1 5 .1 3 -8 3 9 .6 9 .6 9 .6 9 .3 9 .0 8 .9 9 .4 9 .0 8 .5 7 .9 8 .0 7 .5 8 .1 8 .2 8 .4 8 .6 8 .8 1 0 .7 6 .5 4 -/8 l - rv 2—f 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 » 0 7 3 .0 2 » 1 4 7 .0 2 » 18 1 .1 INITIAL QUÄRTER PERSONAL CONSUMPTION EXPENDITURES IN 1972 DOLLARS _________ COMPOUNDED ANNUAL RATES OF CHANGE___________________________________________________________ B ILLIO N S OF TERMINAL____________________________________________________________ IN IT IA L QUARTER___________________________________________________________ DOLLARS QUARTER ANNUAL RATES 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 - 8 0 4 -8 0 3 -8 1 1-81 2 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 0 .9 0 .1 -0 .7 3 -7 9 1 .7 2 .1 5 .1 4 -7 9 2 .1 2 .5 4 .2 3 .3 1 -8 0 1 .7 1 .9 2 .7 1 .6 -0 .1 2 -8 0 0 .0 -0 .1 0 .0 -1 .6 -4 .0 *7 7 3 -8 0 0 .6 0 .6 0 .9 -0 .2 -1 .3 —1 *9 1 .1 1 .2 1 .5 0 .8 0 .1 1 CD o 1 -7 9 2 -7 9 9 2 1 .2 9 1 9 .5 9 3 0 .9 9 3 8 .6 9 3 8 .3 9 1 9 .6 4 .3 4 .5 9 2 9 .4 4 .6 9 4 0 .0 1 .6 1 .7 2 .1 1 .6 1 .3 1 .6 5 .0 5 .3 5 .9 1 .5 1 .6 1 .9 1 .5 1 .1 1 .4 3 .8 3 .6 3 .2 0 .5 3 -8 1 1 .7 1 .8 2 .1 1 .7 1 .5 1 .7 3 .7 3 .6 3 .3 2 .0 3 .5 4 -8 1 1 .3 1 .3 1 .6 1 .2 0 .9 1 .1 2 .6 2 .3 1 .7 0 .3 0 .2 -3 .0 1 -8 2 1 .4 1 .4 1 .6 1 .3 1 .1 1 .2 2 .6 2 .3 1 .8 0 .8 0 .9 - 0 .3 2 -8 2 1 .5 1 .6 1 .8 1 .5 1 .3 1 .4 2 .6 2 .4 2 .0 1 .3 1 .5 0 .8 2 .8 3 .1 3 -8 2 1 .5 1 .5 1 .7 1 .4 1 .2 1 .4 2 .4 2 .2 1 .9 1 .2 1 .4 0 .8 2 .1 2 .0 0 .9 4 -8 2 1 .6 1 .7 1 .8 1 .6 1 .4 1 .6 2 .6 2 .4 2 .1 1 .5 1 .7 1 .4 2 .5 2 .5 2 .2 3 .6 1 .7 1 .7 1 .9 1 .7 1 .5 1 .7 2 .6 2 .4 2 .2 1 .7 1 .9 1 .6 2 .6 2 .6 2 .5 3 .3 2 .9 2 -8 3 2 .1 2 .2 2 .4 2 .2 2 .1 3 .2 3 .1 2 .9 2 .6 2 .9 2 .8 3 .8 4 .1 4 .3 5 .5 6 .4 1 0 .0 3 -8 3 2 .1 2 .2 2 .4 2 .2 2 .1 3 .1 3 .0 2 .9 2 .6 2 .8 2 .7 3 .6 3 .8 3 .9 4 .6 5 .0 6 .0 2 .2 4 -7 8 1 -7 9 2 -7 9 3 —7 9 4 ^7 9 2 -8 0 3 -8 0 4 -8 0 l- ii 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2—82 3 -8 2 4 -8 2 1 -8 3 2 -8 3 cn «0 1 1 -8 1 2 -8 1 1 -8 0 9 5 3 .6 initial 9 5 4 .7 9 6 2 .9 9 5 5 .7 2 .4 9 6 1 .4 9 6 8 .8 9 7 1 .0 9 7 9 .6 9 8 6 .7 1 * 0 1 0 .6 1 ,0 1 6 .0 auARtur PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS DECEMBER 21» 1 983 15 GROSS PRIVATE DOMESTIC INVESTMENT IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE_________ _ B IL L IO N S OF OOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAL QUARTER 4 -7 8 1 -7 9 6 .0 2 -7 9 9 .6 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 - 83 4 1 5 .1 1 3 .3 4 2 8 .3 3 -7 9 7 .5 8 .3 3 .4 4 -7 9 1 .9 0 .5 -5 .3 -1 3 .3 1 -8 0 2 .5 1 .7 -2 .0 - 4 .5 2 -8 0 -2 .4 —4 . 0 -7 .9 -1 1 .4 -1 0 .5 -2 3 .8 3 9 4 .3 3 -8 0 - 4 .2 -5 .8 -9 .2 -1 2 .1 -1 1 .8 -1 9 .1 -1 4 .2 3 7 9 .5 4 3 1 .9 4 1 6 .b 5 .1 * 1 00 o 4 2 2 .0 0 .3 -0 .5 -2 .6 - 3 .8 - 1 .2 -3 .2 1 -8 1 4 .9 4 .8 3 .6 3 .6 7 .4 7 .9 2 1 .2 4 4 .1 4 9 .8 2 -8 1 5 .9 5 .9 5 .0 5 .2 8 .7 9 .4 1 9 .7 3 3 .8 3 1 .5 1 5 .4 3 -8 1 7 .2 7 .4 6 .7 7 .1 1 0 .4 1 1 .3 2 0 .1 3 0 .6 2 8 .1 1 8 .5 4 —81 5 .2 5 .1 4 .3 4 .4 6 .9 7 .1 1 3 .4 1 9 .9 1 5 .7 6 .1 1 -8 2 1 .0 0 .6 -0 .5 -0 .8 0 .6 0 .1 4 .1 7 .5 2 .2 -7 .2 -1 3 .6 -2 7 .2 -3 7 .8 2 -8 2 1 .6 1 .3 0 .3 0 .1 1 .5 1 .1 4 .7 7 .8 3 .3 -4 .1 -8 .4 -1 6 .6 -1 7 .5 9 .4 3 -8 2 1 .0 0 .7 -0 .2 -0 .5 0 .7 0 .3 3 .4 5 .9 1 .9 -4 .5 -6 .0 -1 4 .2 -1 4 .0 1 .1 4 -8 2 -2 .0 -2 .5 -3 .6 -4 .1 -3 .3 -4 .0 -1 .7 -0 .2 1 -8 3 -0 .3 -0 .7 -1 .5 -1 .9 -0 .9 - 1 .4 0 .9 2 .5 -0 .8 -5 .8 -6 .5 2 -8 3 2 .1 1 .9 1 .2 1 .1 2 .2 2 .0 4 .5 6 .4 3 .6 -0 .5 -2 .4 -5 .4 3 -8 3 4 .4 4 .3 3 .8 3 .8 5 .0 5 .0 7 .7 9 .7 7 .4 3 .9 2 .7 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1—80 Z -8 0 3 -8 0 4—80 1 -8 1 2 -8 1 9 .0 3 8 .5 4 1 1 .7 4 5 5 .5 -4 .3 -1 0 .2 4 7 2 .1 2 1 .6 4 9 5 .8 1 .7 - 1 4 . 9 4 7 6 .2 4 2 2 .9 -1 3 .9 -1 9 .6 -2 0 .7 -1 4 .1 -1 2 .7 -1 2 .3 4 3 2 .5 —6 .5 4 2 5 .3 -2 3 .9 - 3 8 .0 3 7 7 .4 -4 .4 -8 .7 -9 .7 3 1 .4 -3 .7 5 .1 4 .1 7 .8 4 2 .2 5 3 .9 0 .5 3 .0 1 2 .0 1 2 .5 1 7 .8 4 5 .9 5 3 .8 53 .6 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 - 83 4 0 4 .1 4 5 0 .1 5 0 1 .1 INITIAL ÜUAKffeR- GROSS PRIVATE DOMESTIC INVESTMENT IN 1972 DOLLARS _________ COMPOUNDED ANNUAL RATES OF CHANGE__________ TERMINAL QUARTER B ILLIO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 1 -7 9 -1 .2 2 “ 79 -0 .7 -0 .3 3 -7 9 -2 .7 -3 .5 4 -7 9 -7 .0 —8 . 8 - 1 2 . 8 -1 8 .6 1 -8 0 -6 .0 -7 .1 - 9 .3 -1 0 .6 - 1 .8 2 -8 0 -1 1 .3 -1 3 .2 -1 6 .1 -1 9 .1 -1 9 .3 3 -8 0 -1 1 .0 - 1 2 .6 -1 4 .8 - 1 6 .8 -1 6 .2 -2 2 .5 2 -8 0 3 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 4 1 .5 4 -8 0 -6 .9 -7 .7 2 4 1 .3 -6 .6 2 3 7 .2 2 2 5 .3 2 2 4 .3 -3 3 .7 - 8 .8 -9 .3 -6 .6 -8 .4 2 0 2 .4 - 9 .5 7 .7 1 9 7 .4 2 8 .1 2 1 0 .0 1 -8 1 -3 .7 -4 .0 -4 .5 -4 .1 -0 .9 -0 .7 1 3 .6 2 7 .3 2 6 .5 2 -8 1 -2 .1 -2 .2 - 2 .5 -1 .9 1 .2 1 .9 1 3 .4 2 2 .2 1 9 .4 3 -8 1 -0 .9 -0 .9 -0 .9 -0 .2 2 .8 3 .5 1 3 .2 1 9 .7 1 7 .0 1 2 .6 1 2 .4 4 -8 1 -2 .9 -3 .1 -3 .3 - 3 .0 -0 .8 -0 .7 6 .3 9 .7 5 .6 -0 .6 -6 .7 1 -8 2 -5 .8 -6 .1 -6 .6 - 6 .7 -5 .2 -5 .6 -0 .8 0 .8 2 -8 2 - 5 .1 -5 .4 - 5 .8 -5 .8 -4 .4 -4 .7 -0 .2 3 -8 2 - 5 .2 -5 .5 - 5 .8 -5 .8 - 4 .5 -4 .8 -0 .9 4 -8 2 -7 .4 -7 .8 - 8 .3 - 8 .4 -7 .5 - 8 .0 -4 .9 -4 .4 1 -8 3 - 5 .6 -5 .8 -6 .2 -6 .1 -5 .1 - 5 .4 -2 .3 2 -8 3 -3 .1 -3 .2 -3 .4 -3 .2 -2 .0 -2 .0 3 -8 3 - 1 .0 -1 .0 - l.l -0 .7 0 .6 0 .8 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 2 2 2 .7 1 2 .8 2 2 9 .5 2 3 6 .3 -2 2 .5 2 2 1 .7 - 3 .9 - 1 0 .3 -1 6 .9 -2 8 .6 -3 4 .2 1 .2 - 2 .7 - 7 .7 -1 2 .2 -1 9 .2 -1 7 .5 3 .4 0 .3 -3 .2 -7 .4 -1 1 .0 -1 6 .0 -1 3 .8 -1 .3 - 7 .8 - 1 1 .9 -1 5 .5 -2 0 .1 -1 9 .5 -1 .5 -4 .4 - 7 .6 -1 0 .2 -1 3 .5 -1 1 .6 1 .3 2 .3 0 .0 -2 .5 -4 .3 -6 .5 - 3 .5 4 .2 4 .4 8 .0 3 8 .8 4 9 .8 4 .1 5 .3 3 .5 1 .4 0 .2 -1 .2 2 .3 1 0 .1 1 1 .5 1 6 .3 4 0 .9 4 7 .4 4 5 .1 3 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 9 9 .7 2 0 1 .4 -5 .8 1 9 8 .4 -1 4 .0 -2 1 .5 -3 4 .6 1 7 8 .4 -4 .9 -7 .5 -8 .3 1 9 0 .0 2 8 .7 2 1 0 .2 2 3 0 .7 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS DECEMBER 2 1 , 1983 16 GOVERNMENT PURCHASES OF GOODS AMO SERVICES IN CURRENT OOLLARS ________________COMPOUNDED ANNUAL RATES OF CHANGE__________________ TERMINAL QUARTER IN IT IA L QUARTER 4 -7 8 1 -7 9 5 .2 2 -7 9 6 .0 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 BILLIO N S OF OOLLARS ANNUAL RATfcS 2 -8 3 4 5 6 .9 6 .8 4 6 4 .5 3 -7 9 8 .2 9 .7 1 2 .6 4 -7 9 1 0 .3 1 2 .1 1 4 .8 1 6 .9 1 -8 0 1 1 .6 1 3 .3 1 5 .5 1 7 .0 1 7 .1 2 -8 0 1 2 .1 1 3 .5 1 5 .3 1 6 .2 1 5 .8 1 4 .6 3 -8 0 1 0 .7 1 1 .7 1 2 .7 1 2 .7 1 1 .3 8 .5 2 .7 4 -8 0 1 1 .3 1 2 .2 1 3 .1 1 3 .2 1 2 .3 1 0 .8 9 .0 1 5 .6 1 -8 1 1 1 .5 1 2 .3 1 3 .1 1 3 .2 1 2 .5 1 1 .3 1 0 .3 1 4 .3 4 7 8 .5 4 9 7 .6 5 1 7 .6 5 3 5 .5 5 3 9 .1 5 5 9 .0 1 3 .0 5 7 6 .3 2 -8 1 1 0 .8 1 1 .5 1 2 .1 1 2 .0 1 1 .2 1 0 .1 9 .0 1 1 .1 9 .0 5 .1 3 -8 1 1 0 .9 1 1 .5 1 2 .1 1 2 .0 1 1 .3 1 0 .4 9 .6 1 1 .4 1 0 .0 8 .5 1 2 .0 4 -8 1 1 1 .4 1 1 .9 1 2 .4 1 2 .4 1 1 .9 1 1 .2 1 0 .6 1 2 .2 1 1 .4 1 0 .9 1 3 .9 1 5 .9 1 -8 2 1 0 .8 1 1 .3 1 1 .7 1 1 .6 1 1 .0 1 0 .3 9 .7 1 0 .9 1 0 .0 9 .3 1 0 .7 1 0 .1 4 .6 2 -8 2 1 0 .1 1 0 .5 1 0 *8 1 0 .6 1 0 .0 9 .2 8 .6 9 .5 8 .5 7 .6 8 .2 7 .0 2 .8 1 .1 3 -8 2 1 0 .5 1 0 .9 1 1 .2 1 1 .1 1 0 .6 9 .9 9 .4 1 0 .3 9 .5 9 .0 9 .8 9 .2 7 .1 8 .4 1 6 .2 4 -8 2 1 0 .8 1 1 .2 1 1 .5 1 1 .4 1 1 .0 1 0 .4 1 0 .0 1 0 .8 1 0 .3 9 .9 1 0 .7 1 0 .4 9 .1 1 0 .7 1 5 .8 1 5 .5 9 .8 6 .7 5 8 3 .5 6 0 0 .3 6 2 2 .8 6 2 9 .8 6 3 1 .6 6 5 5 .7 1 -8 3 1 0 .0 1 0 .3 1 0 .6 1 0 .4 1 0 .0 9 .4 8 .9 9 .6 8 .9 8 .4 8 .9 8 .4 7 .0 7 .6 2 -8 3 9 .7 9 .9 1 0 .1 1 0 .0 9 .5 8 .9 8 .5 9 .0 8 .4 7 .9 8 .2 7 .7 6 .4 6 .8 8 .2 3 -8 3 9 .6 9 .9 1 0 .1 9 .9 9 .5 8 .9 8 .5 9 .0 8 .4 8 .0 8 .3 7 .9 6 .8 7 .1 8 .4 4 -7 8 1—r9 2 -7 9 3 -7 9 4 -7 9 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 T-8TT 6 7 9 .7 -1 .3 6 7 7 .4 5 .7 1 .1 3 .6 6 8 3 .4 6 .5 3 .7 6 .3 9 .0 4 -8 2 1 -8 3 2 -8 3 6 9 8 .3 INITIAL QUARTER' GOVERNMENT PURCHASES OF GOODS AND SERVICES IN 1972 OOLLARS ___________ COMPOUNDED ANNUAL RATES OF CHANGE__________________ TERMINAL QUARTER B IL L IO N S OF OOLLARS ANNUAL RATES IN IT IA L QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -7 9 - 1 .9 2 -7 9 -0 .6 0 .6 3 -7 9 0 .5 1 .7 2 .9 4 -7 9 1 .3 2 .3 3 .2 3 .5 1 -8 0 1 .8 2 .7 3 .5 3 .8 4 .0 2 -8 0 2 .2 3 .0 3 .6 3 .8 4 .0 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 7 6 .4 2 7 6 .8 2 7 8 .8 2 8 1 .2 2 8 4 .0 4 .0 2 8 6 .8 0 eo 1 m 1 .3 1 .8 2 .1 1 .9 1 .3 0 .0 -3 .8 4 -8 0 0 .9 1 .3 1 .4 1 .1 0 .5 -0 .7 -3 .0 -2 .1 1 -8 1 1 .3 1 .7 1 .8 1 .6 1 .2 0 .6 -0 .6 1 .? 2 -8 1 0 .9 1 .2 1 .3 1 .1 0 .7 0 .0 -0 .9 0 .0 1 .1 - 2 .1 3 -8 1 1 .2 1 .5 1 .6 1 .4 1 .1 0 .7 0 .0 1 .0 2 .0 0 .8 3 .9 2 8 4 .0 2 8 2 .5 4 .5 2 8 5 .6 2 8 4 .1 2 8 6 .8 4 -8 1 1 .4 1 .7 1 .8 1 .7 1 .5 1 .1 0 .6 1 .6 2 .5 1 .9 3 .9 4 .0 1 -8 2 1 .3 1 .5 1 .6 1 .5 1 .3 0 .9 0 .5 1 .3 1 .9 1 .3 2 .5 1 .8 -0 .3 2 -8 2 0 .8 1 .0 1 .1 0 .9 0 .7 0 .3 -0 .2 0 .4 0 .8 0 .1 0 .6 -0 .5 - 2 .6 2 8 9 .6 2 8 9 .4 -4 .9 2 8 5 .8 3 -8 2 1 .4 1 .6 1 .7 1 .6 1 .4 1 .1 0 .8 1 .4 1 .9 1 .5 2 .3 1 .9 1 .2 1 .9 9 .3 4 -8 2 1 .9 2 .2 2 .3 2 .2 2 .1 2 .0 1 .8 2 .4 3 .0 2 .8 3 .6 3 .6 3 .5 4 .8 1 0 .0 1 0 .7 ® 1 1 .3 1 .5 1 .5 1 .4 1 .3 1 .0 0 .8 1 .2 1 .6 1 .3 1 .8 1 .4 0 .9 _ 1 - 2 3 .3 0 .5 -8 .8 2 -8 3 1 .1 1 .3 1 .4 1 .3 1 .1 0 .9 0 .6 1 .0 1 .3 1 .8 1 .4 1 .1 0 .6 0 .7 2 .2 -0 .0 -5 .0 -1 .1 3 -8 3 1 .3 1 .5 1 .5 1 .4 1 .3 l. i 0 .9 1 .3 1«6 1 .3 1 .7 1 .5 1 .1 1 .3 2 .4 1 .0 - 2 .0 * .6 4 .3 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 - iO 2 -8 0 3 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2—82 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 9 2 .2 2 9 9 .7 2 9 2 .9 2 9 2 .1 2 9 5 .2 IN IT IA L QUARTER 17 PREPARED »Y FEDERAL RESERVE BANK OF S T . LOUIS DECEN8ER 21» 1993 DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 1 -7 9 1 2 .1 2 -7 9 1 0 .8 9 .5 3 -7 9 1 1 .5 1 1 .2 1 3 .0 4 -7 9 1 1 .2 1 0 .8 1 1 .5 1 0 .1 4 -7 9 1 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 *«• 1 00 O 1 2 .3 1 2 .0 1 3 .9 1 0 .1 1 0 .2 9 .3 8 .9 4 .1 1 0 .8 1 0 .6 1 0 .8 1 0 .3 1 0 .3 8 .6 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 .7 7 1 .7 1 .7 8 9 .8 1 3 .2 * 1 O 1 1 .2 1 1 .1 1 1 .3 1 1 .0 1 1 .3 1 0 .4 1 3 .6 1 4 .1 1 1 .4 1 1 .3 1 1 .6 1 1 .4 1 1 .6 1 1 .1 1 3 .5 1 3 .6 1 3 .1 2 -8 1 1 1 .2 1 1 .1 1 1 .3 1 1 .0 1 1 .2 1 0 .6 1 2 .3 1 2 .0 1 1 .0 9 .0 1 1 ,8 4 6 .0 1 -8 1 1 1 .7 1 1 .7 1 1 .9 1 1 .8 1 2 .0 1 1 .7 1 3 .3 1 3 .3 1 3 .1 1 3 .0 1 7 .3 1 1 .1 1 1 .3 1 1 .1 1 1 .2 1 0 .8 1 2 .0 1 1 .7 1 1 .1 1 0 .5 1 1 .3 5 .6 CD 1 -8 2 1 .6 7 4 .3 1 1 .6 00 I-* 4 -8 1 1 .7 1 4 . 9 1 1 .7 1 00 ° 3—SO 1 .6 2 4 .0 1 0 .4 Mi 2 -8 0 1 .5 8 7 .5 2 -8 0 Mi B ILLIO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 1 * 9 0 8 .0 1 .9 6 7 * 6 2 .0 1 0 . 4 2 ,0 9 2 .0 CO 1 * 1 1 .2 1 -8 2 1 0 .4 1 0 .3 1 0 .3 1 0 .1 1 0 .1 9 .6 1 0 .4 9 .9 9 .1 8 .1 7 .9 3 .5 2 -8 2 1 0 .1 9 .9 1 0 .0 9 .7 9 .6 9 .2 9 .8 9 .4 8 .6 7 .7 7 .4 4 .3 3 .7 6 .0 3 -8 2 9 .8 9 .6 9 .7 9 .4 9 .3 8 .9 9 .4 9 .0 8 .2 7 .4 7 .1 4 .8 4 .5 6 .1 6 .2 4 -8 2 9 .6 9 .5 9 .5 9 .2 9 .1 8 .7 9 .2 8 .7 8 .1 7 .4 7 .1 5 .2 5 .1 6 .3 6 .5 1 -8 3 9 .4 9 .2 9 .2 8 .9 8 .8 8 .4 8 .8 8 .4 7 .7 7 .1 6 .8 5 .2 5 .1 6 .0 6 .0 6 .0 5 .1 2 -8 3 9 .3 9 .1 9 .1 8 .8 8 .8 8 .4 8 .7 8 .3 7 .8 7 .2 7 .0 5 .6 5 .6 6 .5 6 .6 6 .7 6 .7 8 .2 3 -8 3 9 .4 9 .2 9 .2 9 .0 8 .9 8 .6 8 .9 8 .6 8 .1 7 .6 7 .4 6 .3 6 .3 7 .2 7 .4 7 .8 8 .1 9 .6 1 1 .0 4 —7ö 1 -7 9 T -T 9 3 —T 9 4 -7 9 T—80 2 -8 0 3=815 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 2 ,1 2 0 . 5 1 .4 2 ,1 2 7 . 9 2 .1 5 9 .0 2 ,1 9 1 .5 6 .8 2 ,2 2 7 .8 2 ,2 5 5 .9 2 ,3 0 1 . 0 2 ,3 6 1 .7 T W T T T n rw o rre r DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE___________________ ___________ ____________________________ BILLIONS OF Ml 1 OD O TERMINAL______________________________________________ _____________ IN IT IA L QUARTER___________________________________________________________DOLLARS QUARTER ANNUAL RATErS 1 -7 9 2 -7 9 3 -7 9 4 -7 9 4 -7 8 1 -8 0 2 -8 0 4 -8 0 1 -81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 - 8 3 1 -7 9 2 .5 2 -7 9 1 .4 0 .2 2 .0 1 .7 3 .2 1 .5 1 .2 1 .7 1 ,0 1 1 * 1 1 1 .0 1 1 * 7 ? 1 cn 1 ,0 2 0 .1 1 .5 1 .9 0 .5 0 .1 0 .0 -1 .0 -1 .6 3 -8 0 0 .8 0 .5 0 .6 -0 .1 -0 .1 -1 .3 2 .9 1 .2 1 .0 1 .2 0 .9 0 .5 3 .5 4 .1 1 00 o 1 .7 IN) 1 1 -8 0 1 ,0 1 9 .8 0 .1 * 1 00 0 4 -7 9 2 .3 1 ,0 2 5 .8 -5 .3 1 ,0 1 2 . 0 1 ,0 1 9 .2 1 ,0 2 9 .6 1 -8 1 1 .6 1 .5 1 .6 1 .4 1 .6 1 .5 3 .8 4 .3 4 .4 2 -8 1 1 .6 1 .5 1 .7 1 .4 1 .7 1 .5 3 .3 3 .5 3 .1 1 .9 3 -8 1 2 .2 2 .2 2 .4 2 .7 2 .7 4 .4 4 .8 5 .0 5 .3 8 .9 4 -8 1 1 .9 1 .9 2 .0 1 .9 2 .1 2 .1 3 .4 3 .5 3 .4 3 .0 3 .6 -1 .4 1 -8 2 1 .5 1 .4 1 .5 1 .4 1 .5 1 .4 2 .4 2 .3 2 .0 1 .4 1 .2 -2 .4 -3 .4 2 -8 2 1 .5 1 .5 1 .6 1 .4 1 .6 1 .5 2 .4 2 .3 2 .0 1 .5 1 .4 - 1 .0 - 0 .8 1 .9 3 -8 2 1 .4 1 .3 1 .4 1 .3 1 .4 1 .3 2 .1 1 .9 1 .6 1 .2 1 .0 -0 .8 -0 .6 0 .8 - 0 .3 4 -8 2 1 .5 1 .4 1 .5 1 .4 1 .5 1 .4 2 .1 2 .0 1 .8 1 .4 1 .3 - 0 .1 0 .2 1 .4 1 .1 2 .6 1 -8 3 1 .6 1 .5 1 .6 1 .5 1 .6 1 .5 2 .2 2 .1 1 .9 1 *6 1 .5 0 .4 0 .7 1 .8 1 .7 2 .8 2 .9 2 -8 3 1 .7 1 .6 1 .7 1 * 6 1 .7 1 .7 2 .3 2 .2 2 .0 1 .8 1 .8 0 .8 1 .2 2 .1 2 .2 3 .0 3 .2 3 .5 3 -8 3 1 .9 1 .9 2 .0 1 .9 2 .0 2 .0 2 .6 2 .6 2 .4 2 .2 2 .3 1 .5 1 .9 2 .8 3 .0 3 .9 4 .3 5 .0 6 *4 4 -7 8 1 -7 9 2 -7 9 3 -7 9 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 4—7 9 ~ i- a o 1 ,0 4 0 . 7 1 ,0 4 5 . 6 1 ,0 6 8 * 1 1 ,0 6 4 .3 1 ,0 5 5 * 1 1 ,0 6 0 .2 1 ,0 5 9 .3 1 « 0 6 6 .1 1 ,0 7 3 .8 1 ,0 8 3 .1 1 ,1 0 0 .1 T î iÎ T Ï A L’ QÜÄr T I r pr e p a r e d 18 by federal DECEMBER 21» 198 3 reserve BANK OF ST• LOUIS CORPORATE PROFITS AFTER TAXES* COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER 4 -7 8 1 -7 9 2 -7 9 3 -7 9 1 -7 9 3 .3 2 -7 9 5 .8 8 .4 3 -7 9 8 .2 1 0 .7 4 -7 9 3 .2 3 .2 0 .6 - 1 0 .4 1 -8 0 3 .1 3 .1 1 .4 4—79 1 -8 0 2 -8 0 4 -8 0 1-81 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 6 4 .5 1 3 .0 1 6 9 .6 -4 .0 1 6 5 .0 2 .9 1 6 6 .2 0 00 1 (M -8 .7 -1 1 .0 -4 .7 -6 .0 -8 .7 -1 3 .4 -1 4 .4 -2 1 .9 2 3 .3 -4 .2 -5 .2 - 7 .4 -1 1 .0 -1 1 .1 -1 5 .3 1 0 .7 1 00 o 3 -8 0 1 6 1 .2 3 -8 0 -1 5 .3 -2 3 .0 -2 8 .6 -5 0 .5 1 -8 1 -2 .2 -2 .8 -4 .3 2 -8 1 -5 .6 -6 .5 -8 .2 3 -8 1 -3 .7 - 4 .4 - 5 .7 4 -8 1 - 3 .9 -4 .6 - 5 .8 1 -8 2 -1 0 .2 -1 1 .2 -1 2 .8 2 -8 2 -8 ,4 3 -8 2 4 -8 2 1 3 9 .4 -8 .4 1 2 .4 -1 0 .9 -1 1 .0 -1 3 .5 -0 .6 -7 .0 - 6 .3 - 7 .9 - 7 .5 -9 .1 -7 .7 -7 .3 2 .6 1 4 6 .9 1 4 6 .7 -0 .5 7 .3 1 5 2 .2 1 5 .9 1 3 6 .6 - 7 .5 - 1 0 .7 -3 1 .2 -2 .0 - 2 .4 -1 0 .5 -2 .8 -3 .4 1 4 4 .0 1 6 .5 -8 .7 1 .1 -1 5 .0 -1 5 .5 -1 7 .6 -1 1 .4 -9 .3 -1 0 .6 -1 2 .5 -1 2 .7 - 1 4 .3 -8 .2 - 1 2 .0 -1 3 .8 -1 8 .8 -1 5 .3 -2 3 .8 -3 1 .4 -8 .1 -8 .9 -1 0 .1 -1 1 .8 -1 1 .9 -1 3 .2 -7 .7 - 1 0 .9 - 1 2 .3 -1 6 .3 -1 3 .0 -2 3 .0 6 .5 -3 .0 -8 .2 -8 .9 -1 0 .1 -1 1 .6 -1 1 .7 -1 2 .9 -7 .9 - 1 0 .8 - 1 2 .0 - 1 5 .4 -1 2 .5 -1 7 .3 -1 9 .9 0 .7 -6 .5 -1 2 .1 -1 2 .2 -1 3 .3 -8 .8 -1 1 .5 - 1 2 .7 -1 5 .7 -1 3 .2 -9 .1 4 .5 -6 .2 1 4 1 .7 -1 6 .1 - 1 8 .9 -2 5 .8 -2 3 .9 -3 8 .5 -5 9 .7 -1 0 .6 -5 .4 - 6 .2 -7 .4 -7 .2 -7 .9 -3 .0 -5 .1 -5 .5 - 7 .7 -4 .2 3 -8 3 -2 .2 -2 .5 -3 .1 -4 .0 - 3 .5 - 4 .0 1 .0 -0 .6 -0 .6 - 2 .2 1 .7 4 -7 8 " T -T 9 2 -7 9 3 -7 ? 4 -7 9 1 -8 0 2 -B o 3 -8 0 4 -8 0 1-81 2 -8 1 ro 00 -9 .5 - 5 .0 CM -8 .8 1 1 -8 3 B IL L IO N S OF DOLLARS ANNUAL R A ItS IN IT IA L QUARTER -1 9 .1 -1 7 .3 -1 9 .4 1 1 2 .9 1 1 7 .4 1 6 .9 -4 .2 1 1 6 .5 -9 .9 1 1 3 .5 -1 0 .3 - 1 3 .7 - 1 7 .4 1 0 8 .2 -6 .8 -6 .9 1 0 .0 8 .3 1 2 .4 2 5 .6 9 1 .0 0 .0 1 .0 1 7 .7 1 7 .8 2 3 .7 3 7 .5 7 7 .4 6 4 .7 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -8 2 1 -8 3 2 -8 3 1 2 7 .2 1 4 4 .1 “ I H ITT A d H J AK TER * NATIONAL INCOME BASIS PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS DECEMBER 2 1 1 19«3 HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: S'tatisticai Tables (Stock number TRI3-010-00101-1, price $10.00). Estimates for 1977-79 and corrections for earlier years are in the July 1982 Survey of Current Business. Estimates for 1980-82 appear in the July 1983 purvey of~Current Business. Estimates for the periods since, appear in subsquent issues of the monthly Survey of Current Business. These publications are available from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. For further information, write to the National Income and Wealth Division (BE-54) Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. 19 IN V E N T O R IE S COMPARED WITH MONTHLY S A L E S * MA NUF AC TUR ING AND TRADE 1 .68 68 64 1 60 1 56 1 . 52 52 1 . 48 48 44 40 1 36 32 1969 «RATIOS 1970 1971 1972 1973 1974 1 975 1976 1977 BASED ON S E A S O NA L L Y ADJUSTED DATA. 1978 1979 SOURCE: 1980 1981 1982 198 3 U . S . DEPARTMENT OF COMMERCE SHADED AREAS R E P R E S E N T P E R I O D S OF B U S I N E S S R E C E S S I O N S . L A T E S T DATA P L O T T E D : OCTOBER P R E L I M I N A R Y PREPARED BY FEDERAL RESERVE BANK OF S T . 20 LOUIS
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