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nflnonflL e c o n o m i ctrei i ds
PREPARED

MONTH ENDING:

BY

FEDERAL

December 31, 1972

RESERVE

BANK

OF

ST. LOUIS

RELEASED:

January 24, 1973

Total spending advanced at an 11.4 percent annual
rate from the third to the fourth quarter of 1972, and real
product rose at an 8.4 percent rate. The surge in total
spending and real product in the fourth quarter of 1972
served to maintain the strong pace of economic activity which
was recorded in the first half of the year. For the year ending
fourth quarter 1972, real product increased 7.7 percent, rising
at a 7.9 percent rate in the first half of the year and at a
7.4 percent rate in the second half. By way of comparison,
real product rose 5.1 percent in the year ending fourth quarter
1971, and at a trend rate of 3.7 percent from 1957 to 1972.
With the exception of net exports, major components
of total spending (on an average-of-year basis) increased more
rapidly from 1971 to 1972 than from 1970 to 1971. Personal
consumption expenditures accelerated from a 7.8 percent increase
in 1971 to 8.5 percent in 1972. The rate of increase of gross
private domestic investment rose from 10.9 to 18.6 percent, and
the rate of advance of government purchases rose from 6.3 percent
to 9.5 percent. Net exports went from a surplus of $0.7 billion
to a deficit of $4.1 billion in 1972.
Industrial production rose at a 10.7 percent annual
rate during the last six months of 1972, compared to a 10 percent
rate in the first six months of the year. For the year ending
December 1972, industrial production advanced 10.4 percent,
considerably more rapid than the 3.1 percent increase in the
previous year. Total civilian employment rose 3.4 percent from
December 1971 to December 1972, and the unemployment rate fell
from 6 percent in December 1971 to 5.2 percent in December 1972.
A rapid 23.6 percent annual rate of increase in whole­
sale prices of agricultural commodities in the second half of 1972
influenced the recent acceleration in the consumer price index.
Consumer prices, which include farm produce and food products,
accelerated to a 3.9 percent annual rate of increase in the last
six months of 1972 from a 2.9 percent advance in the year ending
June 1972. The rate of increase of wholesale industrial commodities,
however, slowed to a 2.6 percent rate in the last six months of
1972, compared to a 3.5 percent increase in the preceding year.




2
TOTAL C I V I L I A N EMPLOYMENT
COMPOUNOED ANNUAL RATES OF CHANGE
TERMINAL
MONTH

IN IT IA L

MONTH
OF PERSONS

5-71

6-71

7-71

8-71

9-71

10-71

U -71

12-71

1-72

2-72

5-71

6-71

7-71

8-71

9-71

10-71

11-71

12-71

1-72

2-72

IN IT IA L

3-72

4-72

5-72

6-72

7-72

8-72

9-72

10-72

11-72

3-72

4-72

5-72

6-72

7-72

8-72

9-72

10-72

11-72

MONTH

PREPARED 8Y FEDERAL RESERVE BANK OF ST.
JANUARY 5 , 1973

LOUIS

PAYROLL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
IN IT IA L
5-71
-

7-71

6-71

7-71

6-71

9-71

10-71

11-71

12-71

1-72

2-72

THOUSANDS
OF PERSONS

MONTH
3-72

4-72

S>72

6-72

7-72

8-72

9-72

10-72

11-72

1.2

70,574

-0 .9

5-71

6-71

70,532

-0 .7

7-71

8-71

9-71

10-71

11-71

12-71

1-72

2-72

IN IT IA L

3-72

4-72

5-72

6-72

7-72

S-72

9-72

10-72

11-72

MONTH

P - PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF S T .
JANUARY 5 , 1973

LO UIS

3

EMPLOYMENT
RATIO

SCALE

MILLIONS

OF

RATIO
PERSONS

MILLIONS

SEASON ALL Y ADJUSTED

SOURCE«
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIOOS

OF

SCALE

PERSONS

U. S.DEPARTMENT OF LABOR

INDICATED.

LATEST DATA PLOTTED« DECEMBER PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

4

I N O U M R I A l PRODUCTION
COMPOUNDS ANNUAL PATCS Or f.HANGf

TF9*INAL
MliH
rSt
6-71

INITIAL MONTH
* - 1 6-71
57

7-71

8-71 9-71 10-71 11-71 12-71

1967 - 100

1-72 2-72 3-72 4-72 5-72 6-72 7-72

8-72 9-72 10-72 11-72

0.0

107.4

7-71

- i.s -7.5

106.7

9-71

- > 5 -0.6 -11.7
*.

105.6

9-71

-o.n -1 .i

107.1

10-71

-l.i -1.7
0.0 0.0

11-71

*.,1 1 8 . 4 V
0.4 7.0

106.8

2.0

7.0

1.7

107.4

3.2

7.3

3.8

7.5

a > \

7.3

7.5

l?-7l
1-7?

1.1

1.3

1•R

2.1

3.8

7.2

4.5

?-7?

3.2

3.7

5.4

f.
t5

6.6

3-7?

4.3

4.7

6.4

9.3

4-7 2

5.5

6.1

7.7 10.4

9.3 11.6 12.5

5-7?

5.4

5.9

7.4

9.7

6-7?

5.1

5.6

6.9

8.9

8.7 10.5 11.1 11.7 12.9
7.9 9.4 9.8 10.0 10.7

7-7?.

5.?

5.6

8.6

7.7

9.0

8-7?

5.6

6.0

6.7
7.2

<1-7?
10-7?

6.0

6.4

7.5

8.9
9.1

8.1
8.4

9.3
9.5

6.4

6.8

7.9

9.4

8.8

9.8 10.1

U-72

6.7

7.1

«.1

9.6

9.0 10.0 10.2

l?-72

6.9

7.3

8.2

9.6

9.0 10.0 10.2

S-71

108.1
6,<!\

108.7

9.3 10.0 11.0 .iV^Ns.
7.8 10.? 11.0 12.0 14.6
13.6

16.0

110.0
+9.6%

16.3 16> V

112.8

12.2

11.3

9.6

8.2

3.2

Z.lV

113.4

8.7

4.0

3.8

113.9

6.0

6.5

113.2

9.2
9.5

9.8
9.7 10.1

9.3

7.5
8.4

9.8

10.0 10.4

9.7

9.0

7.2

10.7 10.1

10.4 10.8 10.3

9.6
9.9

8.1
8.7

10.4 10.7 10.2

9.8

8.8

9.4

10.3

111.2

V
8.8 12.2^
7.9 9.9 12.2 12.l"
8.9 10.7 12.5 12.6 13.1
9.4 10.9 12.3 12.4 12.5 11.9
9.4 10.7 11.8 11.6 11.5 10.7

115.0
1 1 6 .1

117. 3
118.VP
9.5)
1

U9.*P_

6-71 "l-TT "£-71 s~n 16-71 Tr-rrT2F7I"'T-72~ "2-7F
"4-77 £-72 S ^ T T T - I T j = r r - 4-72 IIPTTTi-i r ~
INITIAL MONTH

T&-"P'S FCT* fN A W




jT cm

*m T v m m t tr * zm
T

JANUARY

15,

19 73

w m K
m

w ..s r ; r m

r

5

INDUSTRIAL
RATIO

PRODUCTION

SCALE

1967 = 100

RATIO
S E A S O N A L L Y AD J U S T E D

P E R C E N T A G E S ARE ANNUAL RATE S OF CHAN GE FOR P E RI OO S
LATEST DATA PLOTTED;




SCALE

1967 = 100

INDICATED.

DE C E M B E R P R E L I M I N A R Y
PR EP AR ED BY FEDERAL

R E SE RV E BANK OF ST.

LOUIS

6
P F T Alt SAt ec
C QMPPUNDF f ANNUAL PATFS OF f.HAKOF
)
TFRM1NAL_________________________________________________________________ I N I T I A L MONTH___________________________________________________________ _____ M I L L I O N S 0 F
MONTH
DOLLARS
5-71
6-71
7- 7 1
9-71 10-71 1 1-71 12-71
8-71
1-7?
4-7?
5-7?
6-7?
7-72
8-72
9-72 10-72 11-72
2- 12
3-72
6-71

12.3

7-71

3 .4

-4 .8

9-71

14.5

15.6

40.4

9-71

16.2

17.5

30.6

10 - 7 1

10. 8

10.4

16.0

5 .5

-8 .4

11 - 7 1

12.8

12.8

17.8

11.0

6.2

12- 71

7 .2

6.4

8.8

2.1

-3 .6

-1 .2

“ 20.6

1-7?

6.3

5 .4

7.2

1.6

-2 .8

-0 .9

-11.1

2 - 72

7.4

6.8

8.6

4.0

0.9

3.3

-2 .6

8.0

17.0

3-7?

10.7

10.5

12.5

9.0

7. 1

10.5

7.6

19.0

30.1

4-7?

°.l

8.8

10.5

7 .?

5.3

7 .8

4.9

12.5

17.2

17.3

-5 .0

5-7?

10.9

10.7

12.4

9.7

8.3

10.9

9.0

16.1

20.7

21.9

11.9

31.8

6-7?

9.1

8.9

10.?

7 .5

6.1

8.1

6. 1

11.3

13.8

13.1

4.1

9.0

7-7?

9 .7

9.6

10.8

8.5

7.3

9.?

7.5

1? . 3

14.6

14. 1

7.5

12.0

3.3

18.3

9-7 2

10.5

10.4

11.7

9.6

8.5

10.4

9. 1

13.5

15.6

15.4

10.3

14.5

9.?

20.2

? 7. l

9-7 ?

0.4

9.2

10.2

8.2

7.2

8. 7

7.4

11.0

12.5

11.9

7.2

9.9

5.0

10.4

6.7

-6 .8

10-7?

11.5

11.5

I ?. 7

10.0

10.1

11.8

10.9

14.6

16.4

16*4

12.8

16.1

13.2

19.8

?0 . 3

19.4

5 2 .9

I 1-7?

10.3

10.?

11.2

9.5

8.7

10.2

9.1

12.4

13.7

13.4

9.9

12.3

9.3

13.6

12.4

9 .4

18.5

-8 .2

12 - 7 ?

10.0

10.8

9. 1

8.4

9.7

8.7

11.6

12.8

12.3

9 .2

11.1

8.5

11.9

10.6

7 .9

13 . 3

-2 .5

9-71

10-71

11-71

12-71

1-72

2-72

3-7?

4-72

5-72

6-7?

7-72

8-72

9-72

10-72

3 3,827
_____3 3 , 6 8 8 ____

9. 8

5-71

6-71

7-71

r

\

34,655

21.4

35,219

8-71

34,964
35,574

?3. 1

34,896

---x ,

34,886

- 0 , '\

35,345

IN IT IA L

P-

f s t i m a t f p

3 6 , ?96
37,141
36,822

-9 .8

37,34?
37,969
37*746
39,106
3 8 , 828P
3 . 6 )1

3 8 , 944E

11-72

MONTH

preliminary

F -

36,450

44.7

_____________________________________________________

— —

—..

PREPARFD
JANUARY
PFRSONAL

ry

10 ,

“r eserve
1973_______

federal

B A N iT d F ^ ru n ^ s ~

INCOME

_________________________________________________ __________ C O M PQ U NO F D ANNUAL RATES OF CHANGE__________________________________________________________ _

BILLIONS OF
TERM INM_
MONTH

___________
5-71

6-7 1

6-71

MONTH__________________________________________________________________ DOLLARS
ANNUAL RATES
8-72
4-7?
5-72
6-72
7-72
9 -7 2 10-72 11-72
2 - 12
"i-12

IN IT IA L
7-71

8-7!

9-71

10-71

11-71

12-71

1-7?

8 7 3 .4

3?, 0

8 6 2 .4

7-71

6.5

-1 4 . 1

8-71

7.6

-2 .9

9.7

9-71

6.9

-0 .5

7.0

4.4

1 0 -7 1

6. 1

0.5

5.9

4.0

3.6

11-71

6.2

1.7

6.0

4.8

5. 1

6.5

12-71

7.5

3 .9

H.O

7.5

8 .6

11.?

16.1

1-7?

9.1

5.1

8.6

8.4

9.5

11.5

14. 1

2-12

8.7

6.1

9.3

9 .3

10.3

12.0

1 3.9

12.8

13.6

3-72

8.5

6.2

9.0

8.9

9.7

11.0

12.1

10.8

10.?

6.9

4-7?

3.5

6.4

8.9

8.8

9.5

10.5

11.3

10 . 1

9.4

7.4

8 69 .1
872 .2
8 74 .8
8 7 9 .4
89 0 .4
8 9 8 .9

12.1

9 0 8 .5
9 1 3 .6
7 .9

91 9 .4

5-72

■9.3

6.3

8.6

8.5

9.0

9.8

1 0.4

9.3

8. 6

7.0

7.0

6.2

6-7?

7.5

5.7

7.7

7.5

7.8

8.4

8.6

7.4

6.5

4.8

4.1

2.3

-1 .4

7-7?

7.9

6 .3

8.2

8.0

8.4

9 .0

9.3

8.3

7.7

6.6

6.5

6.0

5.9

13.8

8-72

8.0

6.5

8 .3

8.2

8.5

9.0

9.3

8.5

8.0

7.1

7. 1

6.9

7.1

11.6

9.5

9-7?

9 .1

6.7

S. 3

8.2

8..6

9 .0

9.3

8.5

8.1

7.3

7.4

7.3

7.6

10.8

9.3

9.0

10-72

9.0

7.7

°. 3

9.3

9.7

10.2

10.5

10.0

9.7

9.3

9.6

9.9

10.7

13.9

13.9

16.2

23.8

11-7?

Q .3

8. 1

9. 7

9. 7

10.1

10.6

11.0

10.5

10.3

10.0

10.4

10.7

11.5

14. 3

14.4

16. 1

19.8

15.9

12-72

9.4

9.2

Q. 7

9.7

10.1

10.6

10.9

10.4

1 0. 3

10.0

10.3

10.6

11.3

13*5

13 . 5

14.5

16.4

12.8

9.9

5-71

6-71

8-71

9-71

10-71

11-71

12-71

1-72

2-12

3-72

4-72

5-72

6-72

7-72

8-72

9-72

10-72

11-72

7-71

IN IT IA L

Digitized for


9 2 4 .0
92 2 .9
93 2 .9
9 4 0 .0
9 4 6 .8
9 6 3 .8
9 7 5 . 7P
9 8 3 . 4P

MONTH

P- preli
FRASERm i n a r y

PREPARED BY FEDERAL RESERVE BANK OF S T .
JANUARY

19,

1973

LO UIS




RE TA IL
RATIO

SALES

SCALE

BILLIONS

RATIO

OF D OL LARS

1964

1965

BILLIONS

SEASONALLY ADJUSTED

1966

1967

1968

1969

1970

1971

SCALE

OF OOLLARS

1972

SOURCE« U.S. DEPARTMENT OF COMMERCE
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED.
LATEST DATA PLOTTED« NOVEMBER PRELIMINARY, DECEMBER ADVANCE ESTIMATE
PREPAREO BY FEDERAL RESERVE BANK OF ST. LOUIS

PERSONAL
RATIO

SCALE

IN CO ME

M O NT HL Y TOTALS AT ANNUAL RATES

RATIO

SCALE

SOURCEi U.S. DEPARTMENT OF COMMERCE
PERCENTAGES ARÉ ANNUAL RATES OF CHANCE FOR PERIODS INO ICATEO.
LATEST DATA PLOTTED« DECEMBER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. kOUIS

8
PRODUCT
an n u a l

1-63

2-60

3-68

4-68

2-68

10.1

4-6 8

9.1

7. 8

8.8

7.8

7.4

8. 5

7. 7

7.4

7.6

4-69

1-70

2-70

3-70

3-71

4-71

1-72

2-72

3-72

7.8

2-69

3-69

OOLLARS

7.0

1-69

2-69

cha ng e

11.7

3-68

1-69

cf

QUARTER
r\j
«

IN IT IA L

IN CURRENT ÜCLLARS

rates

i

c o mpounde d

•
o

GROSS NATIONAL

8 5 7 .4
8.6

87 5 .2
89 0 .2
907 .0
7.5

923 .5

3-69

8 .4

7.8

7.6

7.8

7.8

8. 1

<♦-69

7.7

7.0

6.7

6.6

6 .2

5.6

1-70

7.2

6. 5

6.2

6 .0

5.6

5.0

3. 5

3 .9

2-70

7.0

6.5

6.2

6.0

5.7

5 .2

A. 3

4.9

3-70

6. 9

6.4

6 .2

6.0

5.7

5 .4

4.7

5. 3

6 .0

6. 1

6 .4

5. 9

*.6

5.4

5, 1

4. 7

A. 1

4. 3

4 .4

3. 7

1.4

|

94 1 .7
3. 1

948 .9
^

+4
9 58 .0
5.8

9 71 .7
9 8 6 .3

0
f1

989 .7

1 -7 1

7.1

6.6

6. 5

6.4

6.2

6 .0

5.7

6.2

6.8

7.2

7.7

14.3

2-71

7. 1

6.7

6 .6

6 .5

6.4

6. 3

6.0

6. 5

7.0

7. 3

7.7

11.1

7.9

3- 7 1

7.0

6 .6

6.5

6.4

6. 3

6. 2

5.9

fc. 4

6.8

7. 0

7.2

9.2

6.7

5 .4 Vs\ + 9 ^ 9 %

1,056.9

4-71

7. 1

6. 8

6. 6

6.6

6. 5

6.4

6.2

6.6

7.0

7. 2

7.4

8.9

7 .2

6.8

8 .3

1,0 7 8 .1

1-72

7 .4

7.1

7.0

7 .0

6 .9

6.9

6.8

7.2

7.6

7. 9

8.1

9 .5

8.4

8 .5

10.1

12.0

9,2

10.5

11.7

11.4

9.2

10.1

10.8

1 0 .I

.9.5

10.4

10.9

10.6

7 .9

7. 7

7. 6

7.7

8.4

7.6

8. 7

8.9

1,023.4

9.9

9.3

1 ,0 4 3 .0

V s s^
n

1 ,109.1

1,164.0
10 .1

/ i i . 4 1;

—

,_lz6B__ ______ l=M __ k=Aä__ LzÂ3__ 2=±3.__ 2_____ kzJLH l=2ü__ 2-?Q
__
_________________________________________________________________ I N I T I A L

j-jfl A -7Q__ 1=11__ 1=11__ 1=11__ h=ll_ 1=22__ 2-72
_

1,

---------

3-72

QUARTER_____________ ; ______________________________________________
_

P - P relim inary

PRE PARES BY F E DERAL RESERVE BAfus..S L i ljt JJÏU.1.&.
JANUARY 1 9 ,

1973

GROSS NATIONAL PRODUCT IN CONSTANT 1958 DOLLARS
•COMPOUNDED ANNUAL RATES OF CHANGE

8 IL L 1QMS- QF
~
IN IT IA L

TFRMINAL
QUARTER
1-68
2-68

9

3-68

4-68

1-69

2-69

3-69

4 - 69

1-70

2-70

3-70

4-70

1-71

2-71

3-71

4-71

1-72

2-72

3-72
7 0 5 .3

7. 5

3-6*

2-68

DOLLARS
ANNUAL RATES

QUARTER

4-68

4 .6

7 1 2 .3

4.0
3.2

2.4

716 .5
7 2 2 .4

1-69

4. 3

3.2

2.9

3.3

2-69

3.3

2.9

2.5

2.6

1. 9

3-69

3.5

2.7

2.4

2. 4

1.9

1.9

1.2

0.5

-0 .2

0 .4

-0. 3

-1 .0

1.9

1.3

0.9

0 .6

0. 1

1.9

1.3

1.0

0.8

0.4

4-70

1.3

0. 7

0.4

0. 1

-0. 3

-0 .4
0. 1
-0 .7

-2 . 6

-1 .1

c

1.6

-0 .3

0. 3

1.8

- 1.2

-1 . C

7 2 0 .4

-0

7 2 3 .2
7 2 6 .8

2 .0

71 8 .0

7

2-70

1 O 07.
1 .Ä. /O

«
V
*V

-2 .4

00

0. 8

1

1.2

72 5 .1

-2 .2

-f-

1.9

2.0

7 29 .2

r \

0

2.7

1-70

u>
1
-4
O

4-69

1.4

725 .8

73 1 .9

8.0
?.0

5.6

2. 1

2 .2

4.6

2.9

2.9

I. 0

3-71

2 .0

3.3

3 .0

5.1

4.1
4 .7

4. 1

4 .4

6.0

5. 1

6 .4

6. 1

7 8 3 .9
6 .3

3.4

3. 2

3.1

3. 2

1 - 68

4-72

2-6P

3-6,8

4-6S

3.2

3.3

3.4

3. 9

4.5

7 66 .5

6.5

5.6

4.8

75 4 .5
5.2

7.2

6.6

7.5

7.7

8.1

7 .4

8.4 T

8 1 2 .4

1-69_ _______ 2=J&_ _______ LzJSl__ ZrJA-.JLzlQ __ ft.r.ZQ_ I z l l ___ ZzJA___1=21__ h=U _ 1~U _ I =21 _ 1-.72..
_
_
_
_
_
_

__________________________________________________________________ IN I T I M . Q UA R T ER_______________________________________________________________
P - Prelim inary




. PfifMfiLQ. BY F E QERAL ..RESERVE BANK QF ST. LQ.UIS. .
JANUAOY 1 9 ,

1973

9

D E MAN D
RATIO

SCALE

TRILLIONS

AND

PRODUCTION
RATIO

QUARTERLY TOTALS AT ANNUAL RATES

OF

DOLLARS

SEASON AL LY ADJUSTED

TRILLIONS

OF

SCALE

DOLLARS
1 . 2

1. 1

1.0

0.9

0. 8

0.7

0.6

0.5
lLGNP

in

¿GNP

SOURCE:

d o lla r s

.

U.S. DEPARTMENT OF COMMERCE

IN 1958 DOLLARS.

current

PFRCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS
LATEST

data




PLOTTED!

INDICATED.

4TH QUARTER PRELIMINARY
PREPAREO BY FEDERAL RESERVE BANK OF ST.

l OUIS

10
COMPENSATION PER MAGFROUR", TOTAL PRIVAJfc tCONOMY
COMPOUNDED ANNUAL BATES OF CHANGE
TERMINAL
OOÀK TtR

1967 •

IN IT IA L QUARTER
4 -6 7

1-68

1-68

8 .4

3 -6 8

4 -6 8

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1 -7 0

2 -7 0

3 -7 0

4 -7 0

1 -71

2 -7 1

3 -71

4 -7 1

1 -7 2

100

2 -7 2

9 .3

2 -6 8

2 -6 8

7 .5

1 0 4 .4
1 0 6 .3

8 .6

8. ?

P .9

8 .6

8 .4

3 .8

0 .7

1 -6 9

8 .1

7 .0

7 .9

7 .3

5 .9

2 -6 9

8 .1

7 .8

7 .9

7 .6

7 .0

8 .1

3 -6 9

7 .9

7 .7

7 .8

7 .5

7 .0

7 .6

7 .2

4 -b 9

S .2

9 .0

8 .1

8 .0

7 .8

8 .4

8 .5

9 .9

1 -7 0

8 .0

7 .9

7 .9

7 .8

7 .6

8 .3

8 .0

8 .4

6 .9

7 .8

7 .7

7 .7

7 .5

7 .3

7 .6

7 .3

7 .6

6 .5

6 .1

3 -7 0

3 .0

7 .8

7 .9

7 .6

7 .6

7 .9

7 .9

8 .1

7 .4

7 .7

9 .4

4 -7 0

7 .7

7 .6

7 .6

7 .5

7 .3

7 .5

7 .4

7 .5

6 .9

6 .9

7 .3

5 .2

1 -71

7 .9

7 .7

7 .8

7 .7

7 .5

7. 7

7 .7

7 .8

7 .4

7 .5

8 .0

7 .3

9 .4

2 -7 1

7 .7

7 .6

7 .6

7 .5

7 .4

7 .5

7 .5

7 .5

7 .1

7 .2

7 .5

6 .8

7 .7

5 .9

0
r1

3 -6 8
4 -6 8

1 0 8 .6
1 1 0 .9
1 1 2 .5
1 1 4 .7
1 1 6 .7
1 1 9 .5
1 2 1 .5
1 2 3 .3
1 2 6 .1
1 2 7 .7
1 3 0 .6
1 3 2 .5
1 3 4 .4

3 -7 1

7 .6

7 .5

7 .5

7 .4

7 .2

7 .4

7 .3

7 .3

6 .9

7 .0

7 .1

6 .6

7 .1

5 .9

5 .9

4 -7 1

7 .4

7 .3

7 .3

7 .2

7 .0

7 .1

7 .1

7 .0

6 .7

6 .7

6 .8

6 .2

6 .5

5 .6

5 .4

4 .8

1-72

7 .5

7 .4

7 .4

7 .3

7 .1

7 .3

7 .2

7 .2

6 .9

6 .9

7 .0

6 .6

6 .9

6 .3

6 .4

6 .7

8 .5

2 -7 2

7 .4

7 .3

7 .3

7 .1

7 .0

7 .1

7 .0

7 .0

6 .8

6 .7

6 .8

6 .5

6 .7

6 .1

6 .2

6 .3

7 .0

5 .6

3 -7 2

7 .2

7 .1

7. 1

7 .0

6 .9

6 .9

6 .8

6 .8

6 .5

6 .5

6 .5

6 .2

6 .3

5 .8

5 .8

5 .8

6 .1

5 .0

4 .3

4 -6 7

1-6B

¿ -6 8

3 -6 8

4—
68

1 -6 9

2 -7 0

3 -7 0

4 -7 0

1 -71

2 -7 1

3 -7 1

4 -7 1

1 -/2

2 -7 2

3 -6 9
.....................

1 -7 0
I

n it ia l

1 3 6 .0
1 3 8 .8
1 4 0 .7
1 4 2 .2

q uarter

PREPARED BY FEDERAL REStRVE BANK UF 5 T . LOUIS
NOVEMBER 2 7 , 1972
UU1PUT PER MAN-HUOT7“ TOTAL P R IVATE “ECONOMY
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

IN IT IA L
4 -6 7

1 -68

2 -6 8

3 -6 8

4 -6 8

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1967 -

QUARTER

1 -7 0

2 -7 0

3 -7 0

4 -7 0

1 -7 1

2 -7 1

3 -7 1

4 -7 1

1 -7 2

100

2 -7 2
1 0 1 .8

1 -6 8

4 .4

2 -6 8

4 .0

3 .6

3— B
6

3 .5

3 .0

2 .4

4 -6 8

3 .0

2 .5

2 .0

1 .6

1-69

2 .3

1 .8

1 .2

0 .6

- 0 .4

2 -6 9

1 .9

1 .3

0 .7

0 .1

-0 .6

-0 .8

3 -6 9

1 .5

1 .0

0 .5

0 .0

-0 .5

-0 .6

-0 .4

4 -6 9

1 .2

0 .7

0 .3

-0 .2

-0 .6

-0 .6

-0 .6

-0 .8

E 3

-0 .8

-0 .8

-1 .0

-1 .2

0 .2

0 .5

0 .8

1 .6

4 .3

1 .7

2 .2

3 .2

5 .5

6 .7

1 0 2 .7
1 0 3 .3
1 0 3 .7
1 0 3 .6

A TCBL

1 0 3 .4
1 0 3 .3
1 0 3 .1

1 -7 0

0 .9

0 .5

0 .1

-0 .3

2 -7 0

1 .3

0 .9

0 .6

0 .3

3 -7 0

1 .7

1 .5

1 .2

1 .1

1 .0

1 .3

4 -7 0

1 .4

1 .2

C .9

0 .6

0 .7

0 .8

1 .1

1 .4

1 .9

3 .0

2 .3

-1 .9

1 -71

1 .9

1 .7

1 .5

1 .4

1 .4

1 .6

2 .0

2 .4

3 .0

4 .1

4 .0

2 .7

7 . 4 SsS ^ ' ^ * 0 ^

1 0 7 .0

2 -7 1

1 .9

1 .7

1 .6

1 .5

1 .5

1 .7

2 .0

2 .4

2 .9

3 .7

3 .6

2 .5

4 .8

2 . 3 ^ 'SN ^

1 0 7 .6

L .— - J
.
0 .1

1 0 2 .8
1 0 3 .9
1 0 5 .6
1 0 5 .1

3 -71

2 .0

1 .8

1 .7

1 .7

1 .7

1 .9

2 .2

2 .5

3 .0

3 .7

3 .5

2 .7

4 .3

2 .8

3 . 4 S s^

4 -7 1

2. 1

1 .9

1 .8

1 .8

1 .8

2 .0

2 .3

2 .6

3 .0

3 .6

3 .5

2 .9

4 .1

3 .0

3 .4

3 .4

1-72

2 .2

2 .1

2 .0

1 .9

2 .0

2 .2

2 .4

2 .7

3 .1

3 .7

3 .6

3 .1

4 .1

3 .3

3 .6

3 .7

1 0 8 .5
1 0 9 .4
4 .1

X

2 -7 2

2 .4

2 .3

2 .2

2 .2

2 .3

2 .5

2 .a

3 .1

3 .4

4 .0

3 .9

3 .5

4 .5

3 .9

4 .3

4 .6

5 .2

6 .3

3 -7 2

2 .5

2 .4

2 .3

2 .3

2 .4

2 .6

2 .9

3.1

3 .5

I 4 .0 I

3 .9

3 .6

4 .4

3 .9

4 .2

4 .4

4 .8

5 .1

U 0 .5
1 1 2 .2
4 .0 1

1 1 3 .3

T=T7— T=TB— 2FZTE— 3=7TB— S=T8— ^ 9 — I = t t — 3FS9— 5 ^ 3 — V=7Tr~T=TG— 3T=T3— Z=T3— F T I — 2=71— J=7T “~ = ri — T=72— 2=77
V
—

-------------- ---------------------------------------------------------------------------------




iT rrm u uTP T
T
T g----------- -- -----------------------------------------Tnrm B '
FnrB T "f FP FW I,, 5FR'VS' SAKIK' o r " . LOUT T
,'Wt‘
‘
ST "
NOVEMBER 2 7 ,

1972

11

PRODUCTIVITY, COMPENSATION, AND LABOR COSTS
R A T I O SCALE

R A T I O SCALE

1967-100

] 964

SEASONALLY ADJUSTED

1965

1966

1967

1968

1967-100

1969

1970

1971

1972

SOURCEt U.S. DEPARTMENT OF LABOR
PERCENTAGES ARE ANNUAL RATES Of CHANOE FOR PERIODS INDICATED.
LATEST DATA PLOTTED« 3RD QUARTER
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

UNIT CKTOTT COSTS. TOTAL PRIVATE ECONOMY
COMPOUNDED ANNUAL RATES OF CHANGE
TF«M INAL

IN IT IA L QUARTER

1967 •

100

QUAR Tfc^
4 -6 7
1 -6 8

1-68

2 -6 8

3 -6 8

4 -6 8

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1 -7 0

2 -7 0

3 -7 0

4 -7 0

1 -7 1

2 -7 1

3 -7 1

4 -7 1

1 -7 2

2 -7 2

4 .4

1 0 2 .5

2 -6 8

4 .2

4 .0

3 -6 8

4 .9

5 .1

6 .3

4 -6 8

5 .4

5 .8

6 .7

1 0 3 .5
1 0 5 .1
7 .0

1 0 6 .9

1 -6 9

5 .6

6 .0

6 .6

6 .8

6 .5

2 -6 9

6 .2

6 .5

7 .1

7 .4

7 .6

8 .7

3—
69

6 .3

6 .7

7 .2

7 .4

7 .6

8 .1

7 .4

4 -6 9

6 .9

7 .2

7 .8

8 .1

8 .3

8 .9

9 .0

1 0 .7

1 0 8 .6
1 1 0 .9
1 1 2 .9
1 1 5 .8

1 -7 0

7 .1

7 .4

7 .9

8 .1

8 .4

8« 8

8 .9

9 .6

8 .6

2 -7 0

6 .5

6 .7

7 .1

7 .2

7 .2

7 .4

7 .0

6 .9

5 .1

1 1 8 .2
1 .7

1 1 8 .7

3 -7 0

6 .1

6 .3

6 .6

6 .6

6 .5

6 .5

6 .1

5 .8

4 .2

2 .0

2 .4

4 -7 0

6 .2

6 .4

6 .6

6 .7

6 .6

6 .6

6 .3

6 .0

4 .9

3 .7

4 .8

7 .2

1 -71

5 .9

6 .0

6 .2

6 .1

6 .0

6 .0

5 .6

5 .3

4 .3

3 .2

3 .7

4 .4

1 1 9 .4
1 2 1 .5
1 .7 X ^ + 2 . 4 %

1 2 2 .0
1 2 3 .2

2 -7 1

5 .7

5 .8

6 .0

5.<5

5 .8

5 .8

5 .4

5 .1

4 .2

3 .4

3 .8

4 .3

2 .8

4 .0

3 -7 1

5 .5

5 .6

5 .7

5 .6

5 .5

5 .4

5 .0

4 .8

3 .9

3 .2

3 .5

3 .8

2 .6

3 .1

2 .3

4 -7 1

5 .2

5 .3

5 .3

5 .3

5 .1

5 .0

4 .6

4 .3

3 .6

2 .9

3 .1

3 .2

2 .2

2 .4

1 .6

1 .0

1 -7 2

5 .2

5 .2

5 .3

5 .2

5 .1

5 .0

4 .7

4 .4

3 .7

3 .1

3 .3

3 .5

2 .8

3 .0

2 .7

2 .9

4 .9

2 -7 2

4 .9

4 .9

4 .9

4 .8

4 .7

4 .6

4 .2

3 .9

3 .3

2 .7

2 .8

2 .9

2 .2

2 .3

1 .9

1 .7

2 .1

-0 .6

3 -7 2

4 .6

4 .6

4 .6

4 .5

4 .4

4 .2

3 .9

3 .6

3 .0

I? .- * . I

2 .5

2 .5

1 .9

1 .9

1 .5

1 .3

1 .4

-0 # 3

4 -6 7

1 -68

2 -6 3

3 -6 8

4 -6 8

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1 -7 0

2 -7 0

3 -7 0

4 -7 0 " 1 -7 1

2 -7 1

3 -7 1

4 -7 1

1 -7 2




IN IT IA L

1 2 3 .9
1 2 4 .2
1 2 5 .7
1 2 5 .5
1

1 2 5 .5

2 -7 2

QUARTER

P R F P M E C T BY'~FEP E ff WHtEYgirVE "g*WK" O F STi .C O C m T
NOVEMBER 2 7 t

1972

Ì2
CONSUMER P R I C E
COMP O U N D S D

TERMINAL
MONTH

INDEX,
ANNUAL

IN IT IA L

6 -7 1

7 -7 1

8-71

9 -7 1

10-7 1

1 1-7 1

1 2-7 1

1 -72

1967 *

MONTH

2 -7 2

3 -7 2

4 -7 2

5 -7 2

6 -7 2

7 -7 2

4 .0
4 .1

3 .7

4 .1

n
r s .n

3 .5

3 .0

2 .9

1 .7

10-71

3 .1

2 .7

2 .6

1 .8

i.,

11-71

3 .0

2 .7

2 .5

1 .9

2 .1

2 .3

12-71

3 .1

2 .8

2 .7

2 .4

2 .6

3 .0

3 .8

1 -7 2

1 .2

2 .9

2 .9

2 .6

2 .9

3 .2

3 .7

3 .6

3 .4

3 .5

3 .4

3 .7

4 .1

4 .8

5 .3

7 .0

3 -7 2

3 .3

3 .1

3 .1

2 .9

3 .1

3 .4

3 .7

3 .6

3 .7

0 .4

4 -7 2

3 .2

3 .0

3 .0

?;e

3 .0

3 .2

3 .3

3 .2

3 .1

1 .2

5 -7 2

3 .2

3 .1

3 .1

2 .9

3 .1

3 .3

3 .5

3 .4

3 .3

2 .1

3 .0

4 .0

6 -7 2

3 .0

2 .9

2 .8

2 .7

2 .8

3 .0

3 .1

2 .9

2 .8

1 .8

2 .2

2 .3

7 -7 2

3.2

3 .1

3 .0

2 .9

3 .1

3 .2

3 .3

3 .2

3 .2

2 .4

3 .0

3 .3

2 .9

3 -7 2

3 .2

3 .1

3 .0

2 .9

3 .1

3 .2

3 .3

3 .2

3 .2

2 .5

3 .0

3 .2

2 .9

4 .1

9 -7 2

3 .3

3 .2

3 .2

3 .2

3 .3

3 .4

3 .5

3 .5

3 .5

3 .0

3 .4

3 .7

3 .6

♦ .6

100

1 0 -7 2 1 1 -7 2

3 .6

2 -7 2

9 -7 2

3 .3

fl-7 I

8 -7 2

4 .8

7 -71

* .3

yO

6 -7 1

»

5 -7 1

SEASONALLY ADJUSTED
R A T E S P c CHA N GE

1 2 1 .2 9
1 2 1 .6 2
1 2 2 .0 3

\

1 2 2 .2 0

\

1 2 2 .3 9

\

1 2 2 .6 2

X

1 2 3 .0 0
1 2 3 .3 6
1 2 4 .0 6
1 2 4 .1 0

. + 3 .2 %
2 .0

1 2 4 .3 1
1 2 4 .7 2
1 2 4 .7 9
1 2 5 .31
1 2 5 .6 2
1 2 6 .2 0

1 0-7 2

3 .3

3 .3

3 .3

3 .2

3 .3

3 .4

3 .5

3 .5

3 .5

3 .1

3 .5

3 .7

3 .6

4 .4

4 .1

4 .7

3 .8

1 1 -7 2

3 .3

3 .3

3 .3

3 .2

3 .3

3 .4

3 .5

3 .5

3 .5

3 .1

3 .4

3 .6

3 .6

4 .2

3 .9

4 .2

3 .5

3 .3 ^ ^

1 2 6 .9 3

1 2-7 2

3 .3

3 .2

3 .2

3 .2

3 .3

3 .4

3 .4

3 .4

3 .4

3 .0

3 .3

3 .5

3 .4

3 .9

3 .7

3 .8

3 .2

2 .9

1 2 7 .2 0

5-71

6 -7 1

7 -7 1

TFTT" 9 -7 1 1 0 -7 1 1 1-7 1 1 2 -7 1

1 -7 2

2 -7 2

Ì- 7 2

4 -7 2

5 -7 2

6 -7 2

7 -7 2

8 -7 2

9 -7 2

1 2 6 .5 9

2 .o \

1 0-7 2 1 1 -7 2

THTTTTrTORTff

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
JANUARY 2 3 , 1973
WHOLESALE PRiCES - INDUSTRIAL COMMUUiI IE S * SEASONALLY AOJUSTfcO
COMPOUNDED ANNUAL RATES OF CHANGE
________
IN IT IA L MONTH

t e r m in a l

•ro «rn r~

5-7 1

6 -7 1

___________

6 -7 1

7 -71

8 -7 1

9 -7 1

1 0-7 1

11-7 1

1 2 -7 1

1-7 ?

2 -7 2

3 -7 ?

1967 » 100
4 -7 2

5 -7 2

6 -7 2

7- 7 2

8 -7 2

9 -7 2

1 0 -7 2 1 1 -7 2
1 1 3 .9 7

4 .1

1 1 4 .6 4

7 -7 1

5 .7

7 .3

8 -7 1

6 .0

7 .0

6 .8

I
...........

9 -7 1

4 .3

4 .4

3 .0

- 0 .6

10-71

3 .0 _

2 .7

1 .3

^ .4

-2 .2

11-7 1

2 .7

2 .4

1 .3

- 0 .5

-0 .5

1 .3

1 1 5 .1 2

12-7 1

2 .7

2 .5

_1 .6

0 .3

0 .6

_
2 .1 _ 2 .9

1 1 5 .3 9

1 -7 2

_ 2 .9
_

2 .8

2 .0

1 .1

1 .5

2 .8

3 .6

4 .3

2 -7 2

3 .1

3 .0

2 .4

1 .7

2 .2

3 .3

4 .0

4 .6

3 -7 2

3 .2

3. 1

2 .5

1 .9

2 .4

3 .3

3 .8

4 .2

4 .1

3 .2

4 -7 2

3 .3

3 .3

2 .8

2 .4 _ 2 .8 _ 3 .6
_

4 .1

4 .4

4 .5

4 .3

5 .3

5 -7 2

3 .4

__3 ,4

2 .6

3 .0

3 .7

4 .1

4 .4

4 .4

4 .3

4 .8

4 .3

6 -7 2

3 .6

3 .5

3 .2

2 .8

3 .2

3 .9

4 .3

4 .5

4 .6 _

4 .5

4.9_

4 .7

5 .1

7 -7 2

3 .5

3 .5

3. 1

2 .8

3 .2

3 .8

4 *1 _ 4 .3
_

4 .3 _

4 .1

4 .4

4 .1

3 .9

2 .8

1 1 8 .2 4

3 .9

4 .1

4 .3

4 .3

4 .2

4 .4

4 .2

4 .1

3 .7

4 .6

1 1 8 .6 8

_3 .0

1 1 5 .2 7
^
1 1 5 .2 1
1 1 5 .0 0

1 1 5 .8 0
4 .9

1 1 6 .2 6
1 1 6 .5 7
1 1 7 .0 7
1 1 7 .4 8
1 1 7 .9 7

8 -7 2

3 .6

3 .5

3 .2 __ 3 .0 _ 3 .3

9 -7 2

3 .5

3 .5

3 .2

2 .9

3 .2

3 .7

4. 0

4^1

4 .1

3 .9

4 .1

3 .8

3 .7

3 .2

3 .4

2 .4

3 .2

3 .2

2 .9

2 .6

2 .9

3 .3

3 .5

3 .6

3 .5

3 .3

3 .3

3 .0

2 .7

2 .1

1 .9

0 .6

-1 .1

2 .8

Jtl}

3 .5

3. L
J

3 .7

3 .7

3 *5

3 .6

3 .3

3 .2

2 .8

2 .8

2 .2

2 .1

5 .5

N

3 .0

3 .3

3 .5

3 .6

3 .5

3 .4

3 .4

3 .1 _ 3_. 0

2 .6

2 .6

2 .1

2 .0

3 .6

1 .7

9 -7 1

10-7 1

1 1-7 1

1 2-7 1

6 -7 2

7 -7 2

8 -7 2

9 -7 2

1 0 -7 2

_

1 1 -7 2

3 .3

3 .3

3 .1

1 2 -7 2

3 .3

3 .2

3 .0

5 - 71

6 -7 1

7 -7 T




1 •.Tj
-".8-71

1-72*

2 -7 2 " 3 -7 ?

4 -7 2

5 -7 2

\

1 1 8 .9 1
1 1 8 .8 0

\

1 1 9 .3 3

1

1 1 9 .5 0

1 0 -7 2 1 1 -7 2

TN I U A L MPNTH

PREPARED BY FEOERAL RESERVE BANK OF ST* LOUIS
JANUARY 9» 1973

13
RATIO

SCALE

PRICES

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS

RATIO

SCALE

INDICATED.

LATEST OATA PLOTTED» DECEMBER




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

14
WHCL E- SAL E P R I C E S - A L L
____________________ C O M P O U N D E D

COMMODITtFS,
ANNUAL RA T ES

IN IT IA L

MONTH

5-71
6-71

3.6

7-71

8-71

9-71 10-71 11-71 12-71

1-72

AOJUSTED

MONTH

2-72

3-72

4-72

5-72

6-72

7-72

8-72

9-72 10-72 11-72

4.9

7-71

6-71

SEASONALLY
OF CH A N GE

114.00
2.3

114.22

8-71

5.4

5.7

9.2

9-71

3.1

2.5

2.6

-3.6

10-71

2.8

2.3

2.3

-0.9

1.8

11-71

2.6

2.1

2.1

-0.2

1.6

1.4

12-71

3.3

3.0

3. 1

1.7

3.5

4.3

1-72

3.7

3.5

3.7

2.6

4.3

5.1

7.0

6.7

2-7?

4.0

3.9

4.1

3.3

4.8

5.5

6.9

6.7

6.7

3-72

3.7

3.6

3.8

3 .C

4.2

4. 7

5.5

4.9

4.0

4-72

3. 7.
..

3.6

3.7

. 3.1

4.1

4.5

5.1

4.5

3.8

2.4

3.4

5-72

3.9

3.8

3.9

3.4

4.3

4.6

5.2

4.7

4.2

3.4

4.5

5.6

6-72

4.0

3.9

4.1

3.6

4.4

4.8

5.2

4.9

4.5

4.0

4.9

5.6

7-72

4. 3

4.3

4.5

4.0

4.P

5.2

5.7

5.4

5.2

4.9

5.8

6.6

7.2

8.6

8-7?

_ 4.6

4.5

4.7

4.4

5.1

5.4

5.9

5.7

5.6

5.4

6.2

7.0

7.4

8.3

7.9

9-72

4.5

4.5

4.6

4.3

5.0

5.3

5.7

5.5

5.3

5.1

5.8

6.3

6.4

6.7

5.7

3.6

10-72

4.3

4.3

* .4
*

4.0

4.7

4.9

5,2

5.0

4.8

4.6

5.1

5.4

5.3

5.2

4.1

2.2

11-72

4.5

4.4

4.6

4.3

4.9

5.1

5.4

5.2

5.1

4.9

5.4

5.6

5.7

5.6

4.9

3.9

4. 1

7.4

12-72

5.3

5.3

5.5

5.3

5.9

6,2

6.6

6.5

6.5

6.5

7.0

7.5

7.8

8. 1

a.o

8.1

£.6

14.2

5-71

6-71

7-71

8-71

9-71 10-71 11-71 12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72

115.06
114.71
114.88
115.01
7.3

115.69
116.32
116.95
1.3

117.08
117.41
117-94
5.7

118.49
119.31
120.07
120.42
0.9

120.51
121.23
21.5

123.21

9-72 10-72 11-72

INITIAL MONTH

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
JANUARY. 9, 1973
WHOLESALE PRICES-FARM PRODUCTS AND PROCESSED FOODS AND FEEDSt SEAS. ADJ.
_____________________COMPOUNDED ANNUAL PATES OF CHANGE________________________
INITIAL MONTH
5-/1

6-71

7-71

8— 71

9-71 10-71 11-71 12-71

1-72

2-72

3-72

_L?A I J ^ X Q Q
L
**-

1 ?.

5-72

6-72

7-72

8-72

9-72 10-72 11-72

4.3
7-7

-2 .1

1 14 .1
-B .l

3.2
9-7

-

1.1

-

2.8

U 3 »3

15.9

1 1 4 .7

0.0 -13.7
4.7

1 1 3 .3

-0.5

14.7

5.1

12.2

6.2
7.6

-114.6-

11-7

m

2-72

10.9

18.0

11.8

10.9

14.4

10.

12.5

12.0

14.7

13.0

.Q

U fr. 6
117^6

15.3
5.2

7.1

.

U 9 »Q .

-4.0

6.2

5.0

4.7
7.2

6-72
6.5

2.5

1 0 .2

7.7

9.8

10.4

9.3

8 .0

1 19 *1 .

10.4

9.5

4.8

7.8

9.4

8.9

7.9

8-72

1.4

5.0

5.1

IB.I

14.9

24.4

U Q «0

9.4

8.4

11.1

14.3

15.9

21.2

18.0

9.5

8.6

10.9

13.5

14.5

1 7 .4

1 4 .0

12-72

9.2

14.7

11.4

11.

13.3

12.3

12.8

14.1

1 0.1

11.7

6.0

1.9

X Z 3 ^L .

9.5

17.6
47.0

1 2 4 .8

10.6

11.0

12.2

12.0

14.J

14.4

14.7

14.7

17.G

19.4

20.9

23.6

23.4

24.8

30.1

5-71

6-71

7-71

8 -7 1

9-71 10-71 11-71 12-71

1-72

2-72

3-72

4-72

5-72

6-72

7-72

8-72

9-72 10-72 11-72




13.9

9.6
10.5

10-72

.

X Â I-Z .

83.

1 3 3 .4

INITIAL MONTH

PREPARED BY FEDERAL RESfcRVE
JANUARY 9» 1 97 3

BANK OF S T .

LO U IS

15
GENERAL PRICE

INDEX*

R A T I O SCALE

R A T I O SCALE

1958-100

1958-100
150
145

MO
1 35

130

1 25

120

115

1 10

105

100
»A S USED

IN N A T IO N A L

SOURCE I

IN C O M E AC CO UN TS

P E R C E N T A b E S ARE AN NUAL R A T E S OF CHANCE FOR P E R IO D S
L A T F S T DA TA P L O T T E D «

U .S .

D E P A R T M E N T OF COMMERCE

IN D IC A T E D .

4 T H Q U ARTE R P R E L IM IN A R Y
PR E P A R E D BY FEO E R A L R E S E R V E S A N If OF S T .

L O U IS

COMPOUNDED ANNUAL 1 ATES OF CHANGE
R
TERMINAL

1958 « 100

IN IT IA L QUARTER

m iA K T T R

1 -68

? -6 8

*-6 8

4 -6 8

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1 -7 0

2 -7 0

1 -7 0

4 -7 0

1 -71

2 -7 1

3 -7 1

4 -7 1

1 -7 2

2 -7 2

3«-7 2
1 2 1 .5 7

2 -6«

H .9

3 -6 8

4. 1

4. 3

4 -6 8

3

4 .5

P4 ' s
.6

1 2 2 .8 7
A tt
1 2 4 .2 6

1 -6 9

4. 3

4 .4

4 .4

4 .2

2 -6 9

4 .5

4 .7

ED

4 .9

3 -6 9

4. *

5 .0

5 .1

5 .3

4 -6 9

4. 9

5 .0

5 .2

1 -7 0

5 .1

5 .3

5 .4

2 -7 0

5 .0

5 .1

5. 3

0
1

4 .9

5 .0

4 -7 0

5 .0

1-71

5. 1

2-71

S. 1

3-71

4. 9

s .o

5 .0

5. 1

5 .2

5 .1

5 .0

4-71

4 .7

4.

y

4 . rt

«».a

«..8

4 .7

4 .6

1.-72

4. 7

t-.h

<-.8

4 .8

4 .8

4 .8

4 .6

2 -7 ?

4, 5

4. A

4 .6

4 .6

4 .6

4 .5

4 .4

3 -7 2

4. 4

4. 4

4 .4

4 .4

4 .4

4 .4

4 .2

4 -7 ?

4 .3

4 .3

4 .3

4 .3

4 .3

4 .3

4 .1

1-68

.2 - 6 8

3-68

4 -6 8

1 -6 9

2 -6 9

3 -6 9

\

1 2 9 .5 5
1 2 7 .2 4

5 .5

1 2 9 .1 4

5 .8

6 .1

5 .3

5 ,7

5 .8

5 .5

5 *6

5 .9

b il

6 .0

6 .5

5 .4

5 .6

5 .6

5 .4

5 .4

5 .1

5 .7

5 .3

5 .3

5 .1

5 .0

4 .2

4 .0

5 .2

5. ?

5 .3

5 .5

5 .5

5 .4

5 .3

4 .9

5 .2

5 .?

S. 3

5 .4

5 .5

5 .5

5 .5

5 .4

*>.?

S2

5 .2
k

5 .4

5 .4

5 .3

5 .3

1 3 0 .8 6

K .

1 3 2 .9 7

"'\+5.2%
6 .5
6 .2

\

1 3 7 .8 5
5 .9

1 3 9 .6 4
1 4 1 .3 4

5 .2

5 .6

5 .1

4 .6

4 .7

4 .9

4 ,4

3 .6

2 .9

* .?

¿ .2

4 .?

3 .6

2 .9

2 .2

1 .5

4 .6

4 .3

4 .3

4 .4

3 .9

3 .5

3 .2

3 .3

5 .1

4 .3

4 .0

4 .0

4 .0

3 .6

3 .1

2 .8

2 .8

3 .5

1 .8

4 .1

3 .9

3 ,8

3 .8

3 .4

3 .0

2 .7

2 .7

3 .1

2 .1

2 .4 ^ *

4 .0

3 .8

3 .7

3 .7

3 .3

2 .7 .

3 .0

2 .3

2 .6

4 -6 9

1-7Ô

2 -7 0

3 -7 0

4 -7 0

4 -7 1

1 -7 2

2 -7 2

4 .9

5 .0

1 3 4 .3 6
1 35 .71

X

1 4 2 .3 5

^ S + 3 .0 %

1 4 2 .8 8

\

1 4 4 .6 8
1 4 5 .3 4
1 4 6 .2 1
N

IN IT IA L
P

1

3 .0 1 ? • 7

1 -7 1

2 -7 1

3 -7 1

2 .7 \

1 4 7 .2 0

3-•72

O U A RTFR

- P re lim in a ry




BY F É D É R A L R É S E R V É BANK J2 £ . ST. LOUIS
JANUARY 1 9 , 1973

PREPARED

»

I N V E N T O R I ES COMPARED WI TH MONTHLY S A L E S *
MANUFACTURING

AND

TRADE

72

68

1 . 68

64

60

56

52

48

44

40

36
1961

1962

1963

1964

1965

1966

* RAT IOS BASED ON SEASON AL LY AD JU STE D DATA.

1967

1968

SOURCE:

1969

1970

U .S .DE PA R T M E N T

1971

1972

OF CO MMERCE

SHADED AREAS REPRE SEN T PERIOD S OF BUSI NESS RE CE SS IO NS
AS DEFINED BY THE NATIONAL BUREAU OF EC ONOMIC RESEARCH.
LATEST DATA PLOTTED:



NOVEMBER PR EL IM IN AR Y
PREPAR ED BY FEDERAL RESE RVE BANK OF ST.

LOUIS


Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102