View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

n R T i o n m Economic ntcnos
PREPARED BY FEDERAL

RESERVE

BANK OF ST. LOUIS

MONTH ENDING: December 31, 1976

RELEASED:

January 26, 1977

Total spending rose at a 9.4 percent annual rate in the fourth
quarter after increasing at an 11.8 percent rate during the first six
quarters of the recovery which began in first quarter 1975. Real GNP
increased at a 3 percent rate in the fourth quarter, compared to a 6.3
percent rate in the previous six quarters. However, real final sales,
which is real GNP less the change in real business inventories, grew at
a 4.8 percent rate in the fourth quarter compared to growth at a 4.5
percent rate during the previous six-quarter period. The implicit price
deflator for GNP rose at a 6.2 percent rate in the quarter just ended,
after advancing at a 5.2 percent annual rate from first quarter 1975 to
third quarter 1976.
A major component of GNP that has displayed a different pattern
of growth in this recovery than in past recoveries is nonresidential fixed
investment. Such investment includes expenditures for nonresidential
structures and producers' durable equipment. Expenditures for new plant
and equipment serve as an indicator both of businesses’confidence in the
state of the economy and the rate at which the productive capacity of the
nation is growing. The table below provides a summary of the pattern of
real nonresidential fixed investment during the recession and recovery
periods since World War 11.
There were declines in real capital spending in all of the postwar
recessions. The extent of the decline experienced in the latest recession
was exceeded only during the 1948-49 and 1957-58 recessions. Despite the
severity of the decline in the latest recession, nonresidential fixed
investment has demonstrated little strength in the current recovery to
date, increasing at only a 1.7 percent annual rate. Surveys of plant and
equipment spending plans, however, indicate that such spending will rise
more rapidly in 1977.
Real Nonresidential Fixed Investment
(Compounded Annual Rates of Change)
Seven Quarters
from Trough

Recessions
IV/48
111/53
111/57
11/60
IV/69
IV/73




-

IV/49
11/54
11/58
1/61
IV/70
1/75

- 16.0 %
- 5.1
- 16.7
- 5.9
- 7.2
- 11.0

IV/49
11/54
11/58
1/61
IV/70
1/75

- 111/51
1/56
1/60
- IV/62
- 111/72
- IV/76

13.0 %
9.5
7.8
6.4
5.5
1.7

TOTAL CIVILIAN EMPLOYMENT
C O M P O U N D E D A N N U A L RA T E S OF C H A N G E
IN IT IA L

T ERM INAL
MONTH
5-75

6-75

7 -7 5

8-75

9-75

10-75

12-75

11-75

1-76

THOUSANDS
OF PERSO NS

MONTH

2-76

3 -7 6

4-76

5-76

6—76

7 -7 6

8-76

9-76

10-76 11-76
84*498

6-75

- 0 .3

7-75

3 .2

6 .9

8 4 ,9 6 7
8 5 ,2 8 8

8-75

3 .7

5 .7

4 .6

9-75

2 .3

3 .2

1 .4

- 1 .8

10-75

1 .8

2 .3

0 .9

- 1 .0

- 0 .1

11-75

1 .6

1*9

0 .7

- 0 .5

0 .1

0 .4

12-75

1 .8

2 .1

1 .2

0 .4

1 .1

1 .7

3 .1

1-76

3 .0

3 .5

2 .9

2 .6

3 .7

5 .0

7 .4

1 1 .8

3 .2

2 .7

2 .4

3 .3

4 .2

5 .5

6 .7

2-76

2 .8

8 5 ,1 5 8
8 5 ,1 5 1
8 5 ,1 7 8
8 5 ,3 9 4
8 6 ,1 9 4

1.8

8 6 ,3 1 9

3-76

3 .1

3*5_

1* A _

2 .8

3 .6

4 .4

5 .4

6 .2

3 .5

5 .3

4-76

3 ,7

S I

3*e

1 *7

4 .6

> *3

6 *4

7 *2

5 *7

7 .7

1 0 .2

5-76

3 *8

4 *1

3 *9

3 .8

4 .5

6 .0

6 .6

5 .3

6 .5

7 .2

4 .2

6-76

3 *3

3 *6

1 *3 _

3*1

3 *7

4 .2

4 *7

5 .0

3*7

4 .2

3 *e

o .?

7-76

3 .4

3 .7

3 *5

3*4

3 *9

4 *3

4 .8

5 a

4 *0

4 *5

4 .3

2 *3

1 *4

5 *7

3_*3

3*J>

1*1.

1*2

1**

4 .0

3^6

?*$

1*3

3 .3

1 *9

3*1

2 *9

2 *7

3*1

3 *4

3 *7

3*8

2*8

3*0

1*6_

1 *2

Q-*4_

I* ?

— .6
0

— .2
2

2 .5

2 .8

3 .1

3 .3

3 .4

2 .4

2 .5

2*1

0 .9

0 .2

0 .9

- 0 .6

- 1 .4

2 .7

2 .8

2*5

1 *4

1*0

1*7

0 *8

0 *7

2.1

5 .0

_2*9

_JL>6

1 *6

1*3

2 *0

1 *2

1*1

2*4

4 .0

2-76

3-76

4—
76

5-76

6-76

7 -7 6

e-76

_

9-76

_

J* * 4

_

4 *6

11-76

2 .8

3 .0

2 .0

2 .7

3 *0

3 *2

3 .5

3 .5

12-76

2 .8

3 *0

2 *8

2 .7

3*0

3*2

1*4

6-75

7 -7 5

8-75

9-75 10-75 11-75

12-75

**9

1 *5

5-75

.

8 6 ,6 9 2

1-76

IN IT IA L

.

8 7 ,3 9 9
8 7 ,6 9 7
_

8 7 ,5 0 0

-2*7

8 7 ,9 0 7
1 .0

8 7 ,9 8 1

8-76

8 7 ,8 1 9
8 7 ,7 7 3

- 0 .6

8 8 ,1 3 0
3 .1

8 8 ,3 5 2

9-76 10-76 11-76

MONTH

PAYROLL EMPLOYMENT
COMPOUNOED ANNUAL R A T ES OF CHANGE
IN IT IA L

TERMINAL
MONTH
5-75
6-75

6-75

7-75

8-75

9-75 10-75

11-75 12-75

1-76

MONTH

2-7 6

3-76

THOUSANDS
OF PERSO NS
4-76

5-76

6-76

7 -7 6

8-76

9-76

10-76

11-76
7 6 ,4 4 4

- 2 .1

7 6 ,7 0 6

7-75

1 .0

4 .2

8-75

2 .2

4 *3

4 *5

9-75

2 .6

4 .2

4 .2

4 .0

10-75

2 .8

4 .1

4 .0

3 .8

3 .6

11-75

2 .5

3 .5

3 .3

2 .9

2 .4

1 .1

12-75

2 .7

3 .5

3 .3

3 .1

2 .7

2 .3

3 .5

3 .5

4 .7

6 .0

3 .8

7 6 ,9 8 8

3 .6

7 7 ,2 3 9

3 .5

7 7 ,4 7 0
7 7 ,5 4 2
7 7 ,7 6 4
78,14 2

1-76

3 .1

3 .8

2-76

3 .1

3 .8

3 .7

3 .6

3 .5

3 .5

4 .3

4 .7

3 .4

3-76

3 .3

3 .9

3 .9

3 .8

3 .8

3 .8

4 .5

4 .9

4 .3

5 .2

4-76

3 *5

4 .0

4 .0

4 .0

4 .0

4 .0

4 .6

4 .9

4 .5

5 .1

5 .0

5-76

3 .2

3 .7

3 .6

3 .5

3 .5

3 .4

3 .8

3 *9

3 .4

3 *3

2 .4

tO * 1 _

6-76

3 .0

3 .4

3 .3

3 .2

3 .1

3*1

3 .3

3 *3

2*8

2*6

I* *

0*2

0 ,6

7 9 ,0 4 3

2 .7

2*5

1 *4 .

7 9 ,1 8 3

78,35 8
7 8,6 9 2
7 9 ,0 1 1
7 9 ,0 0 6

7-76

2 .9

3 .3

3 .2

3 .1

3 .0

3 *0

3 .2

3 .1

1*9

0*?

8-76

2 .8

3 .2

3 .1

3 .0

2 .9

2 *8

3 .0

2 *9

2*5

2 .4

* .0

1 .0

1*4

* .e

1 .4

9-76

2 .9

3 .3

3 .2

3 .1

3 .0

3 .0

3 .1

3 .1

2 .8

2 *7

2 .2

1 .7

2*2

2 .7

3 .0

10-76

2 .6

3 .0

2 .9

2*8

2 .7

2 *6

2 .7

2 *6

2*3

2 *1

1*X_

1*2

1*4

1*6 _ J * 4

1 .4

2 *1

7 9 ,2 7 8
4 .5

7 9 ,5 7 2
- 1 .6

7 9 ,4 6 7

11-76

2 .7

3 .0

2 .9

2*8

2 .7

2 .7

2*8

2 .7

2 *4

2 *3

1 .9

1 .5

1 *0

2 .0

2*0

2 .1

1 .0

3 .6

12-76

2 .8

3 .0

3 .0

2*9

2 .8

2 *7

2*9

2 *B

2*5

2*5

2*1

J.ft

2 .1

2 .3

2 .4

2 .6

1 .9

3 .8

5-75

6-75

7-7 5

8-75

9-75

10-75

11-75

12-75

1-76

2-76

3-76

4-76

5—76

6—
76

7-7 6

8-76

IN IT IA L

7 9 ,7 OOP
3 .9

7 9 ,9 5 7 P

9-76 10-76 11-76

MONTH

P- P R E L IM IN A R Y




P R E P A R E O BY FEDERAL RE S E R V E BA N K OF ST* LOUIS
J A N U A R Y 1 2. 1977

2




EMPLOYMENT
RATI O

RATI O

SCALE

MILLIONS

OF

1969

PERSONS

1970

SE ASO NA LLY

1971

1972

MILLIONS

AD JU ST ED

1973

1974

1975
SO URCEt

PERC EN TAGES ARE ANNUAL RATES OF CHANCE FOR P E R IO O S
LA T EST

DATA PLOTTED»

SCALE

PERSONS

1977

U .S .D E P A R T M E N T OF LABOR

IN D ICATED *

DECEMBER P R E L IM IN A R Y
PR EPAR ED

UNEMPLOYMENT
SEASONALLY

PERCENT

1976

OF

BY FED ER AL R E S E R V E

BANK OF S T .

L O U IS

RATES*

A D JU S T E D

PERCENT
10. 0

9.

9.0

8.

8.0

7.

7.0

6.

6.0

5.

5.0

4.

4.0

3.

3.0

2.

2. 0

1

.

1.0

1969

1970

1971

1972

1973

1974

1975
SO URCE.

■ PERCCNT OF C I V I L I A N
L A T EST DATA PLO T TED .

LABOR FORCE

U .S .

1976

1977

DEPARTMENT OF LABOR

IN CROUP

DECEMBER
PREPARED BY FED ER A L R E SE R V E

3

BANK OF S T .

L O U IS

C O N S U M E R P R ICE INDEX, S E A S O N A L L Y A D J U S T E D
COMP O U N D E D ANNUAL RATES OF CHANCE
TERM INA L____________ ____________________________________________________________ I N I T I A L MONTH_______________________ __________________________________________________ 1967 « 100
MONTH
5-76
4-76
6-76
7-76
8-76
9-76 10-76 11-76
5-75
6-75
7 -75
8-75
9-75 10-75 11-75 12-75
1-76
2-76
3-76
160.6

6—
75

8 .6

7-75

1 0 .6

1 2 .6

8-75

8 .5

8 .5

162 . 2
4 *5

162*8
163.5

9-75

7 .7

7 .4

4 .9

5*3

10-75

7 .7

7 .5

5 .8

6 *4

7 .6

11-75

7 .7

7 .5

6 .2

6*8

7 .6

7 .5

12-75

7 .5

7 *4

6 .3

6*8

7 *3

7*1

1^,5
165.5
166.4

6 .7

1-76

7 .2

7 .0

6 *1

6*5

6*8

6 *5

5 .9

5 .2

2-76

6*6

6 .3

5*5

5 .6

5*7

5*2

4 .4

3 .3

1*4

3-76

6 *1

5 .9

5*0

5 .1

5*1

4 *6

3 .9

2 .9

1*8

2*2

4-76

6 .0

5 .8

5 *0

5*1

5*1

4 *7

4.1

3*5

2 *9

3*6

5*1

167.1
167.3
167.6
1 68 . 3

5-76

6*1

5 .9

5 *3

5.4

5*4

5.1

4 .6

4 .2

4 *0

4 *9

6*2

7 .4

6—
76

6*1

5*9

5 *3

5 .4

5 .4

5 .1

4 .8

4*5

4 *4

5*1

6*1

6*6

5*8

7-76

6 .1

5 .9

5 *4

5 .4

5 ,5

5 .2

4 ,9

4 .7

4 *6

5*2

6*0

6*3

5*8

5*8

169.3
170.1
1 7 0 .9

8—
76

6 .1

5 .9

5 .5

5 .5

5 .6

5 .3

5 .1 ,

4*9

4 .9

5 .5

6 *1

6 *4

6 .0

6 ,1

6 .5

9-76

6 .1

5 .9

5 *4

5 .5

5 .5

5 *3

5*1

4 *9

4 *9

5*4

5*9

6 .1

5*8

5*8

5 .8

5 .0

10-76

5 .9

5 .8

5*3

5 .4

5 .4

5 .2

5 .0

4*9

4 .8

5*2

5*7

5 .8

5*5

5*4

5 .2

4 .6

11-76

5 .8

5*6

5 .2

5 .3

5 .3

5 .1

4 .9

4 .7

4 *7

5 .1

5 .4

5*5

5*1

5*0

4 .8

4*3

3*9

3*5

12-76

5 .8

5 .6

5 ,2

5*3

5 .3

5 .1

4 *9

4 *7

4*7

5*0

5*4

5*4

5*1

5 *0

4 .8

4*4

4 .2

4 .2

5-75

6-75

7 -7 5

8-75

9-75

10-75

11-75

12-75

1-76

4
1
<
M

3-76

4-76

5-76

6-76

7-76

8-76

9-76

IN IT IA L

171.8
172.5
4*3

173.1
173.6
4 .9

174.3

10-76 11-76

MONTH

PREPA RED BY FED ERA L R E SE R V E BANK OF ST *
JANUARY 19» 1977

L O U IS

W HOLESALE P R IC E S - A LL C O N N O O IT IE S , SEA SO N A LLY A O JU ST ED
_________________ COHPOUMOEO ANNUAL R A T ES OF CHANGE_______________
IN IT IA L

TERM INAL
MONTH
5-75
6-75

5 *0

7-7 5

8-75

9-75

10-75

11-75

12-75

1-76

1967 *

MONTH

2-76

3-76

4-76

5-76

6-76

7 -7 6

8-76

9-76

1 7 3 .0
1 7 4 .4

10*2

6 *9

10*5

1 0*8

8 *0

10*8

1 1 .2

1 1 .5

f»
1
o

175*9

8-75
9-75

9 *3

11*7

1 2 .2

1 2 .9

177*5
1 4 .4

179*5

11-75

7 *9

9 .5

9 .4

8 .9

7 *7

1*3

12-75

7*3

8*6

8 .3

7 .7

6*5

2 .7

4 .1

1-76

6 *0

6 *9

6 .4

5 .5

4*1

0 .9

0 .7

179*7
180*3
-2*6

179*9

2-76

4*8

5*4

4 .8

3 .8

2*3

- 0 .5

- 1 .1

- 3 *6

— .6
4

3-76

4 *5

5 *0

4 .4

3 .5

2 .3

0 .0

- 0 .3

- 1 .8

- 1 .3

2 .0

4-76

5 .1

5 .6

5 .1

4 .4

3 .4

1 .7

1 .7

1 .2

2 .5

6 .2

5-76

5*0

100

10-76 11-76

0 *0

7-75

6-75

5 .4

5 .0

4 .3

3 .5

2 .0

2 .1

1 .7

2 .9

179*2

5 .5

179 *5
1 0 .5
7 .2

181*0
4 .1

181*6

6-76

5*0

5 .4

5 *0

4 .5

3 .7

2 .4

2 .6

2 .3

3 .4

5 .5

6 .6

4 .7

5 .4

7-76

4 *9

5 .3

4 *9

4 .4

3 .7

2 .6

2 .6

2 .6

3 .5

5 .2

6 .0

4 .5

4 .7

4 .0

8-76

4 *5

4 .8

4 *4

3 .9

3 .3

2 .2

2 .3

2 .1

2 .8

4 .1

4 .5

3 .0

2 .7

1 .3

4 *9

5 .3

4*9

4 .5

3 .9

3 .0

3*2

3 .1

3 .9

5 .1

5 .6

4 .7

4 .9

4 .7

5 .0

1 1 .7

5 .1

5 ,4

5*1

4 .7

4 *2

3 .4

3*6

3*5

4 .2

5 *4

5 .9

5 .1

5 .4

5 .4

5 .8

9 .5

7 .4

11-76

5 ,2

5 .6

5 .3

4*9

4 *5

3 .7

4 *0

3 .9

4 .6

5*7

6 .2

5 .6

5 .8

5 .9

6 .4

9 .0

7 .7

8 .0

12“ 76

5-.6

5 ,9

5 .6

5 .3

4 *9

4 .3

4 *5

4 *5

5 .2

6 *3

6 .7

6 ,3

6 .6

6 .8

7 .4

9 .6

9 .0

9 .7

1 1 .5

5-75

6-75

7-75

8-75

9-75

10-75

11-75

12-75

1-76

2-76

3-76

4-76

5-76

6-76

7 -7 6

8-76

9-76

10-76

11-76

9-76
10-76

_




IN IT IA L

182*4
183 *0
- 1 .3

182*8
184*5
185 *6
1 8 6 .8
188*5

MONTH

P R E P A R E D BY F E D E R A L R E S E R V E B A N K O F ST. L O UIS
J A N U A R Y 12, 1977

4




RATIO

PR I CES

SCALE

SEASONALLY

1967-100

PERCENTAGES a r e

an n ua l

rates

of

RATIO

ADJUSTED

CHANCE f o r PERIODS

SCALE

19 6 7 - 1 0 0

INDICATED.

LATE8T DATA PLOTTEDt
PREPARED 6Y FEDERAL RESERVE BAWK OF ST.

RATIO

SCALE

WHOLESALE

1967-100

SEASONALLY

PR IC ES

RATIO

SCALE

AD JUSTED

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS
LATEST DATA PLOTTEDt

L OUIS

IHDlCATED.

DECEMBER
PREPARED 6V FEDERAL RESERVE BANK OF ST .

5

LO U IS

WHOLESALE P R IC E S - IN D U S T R IA L C O M M O D ITIES, SEASO N ALLY A D JU ST ED
____________ _______ COMPOUNDED ANNUAL R ATES OF CHANGE______________________

5-75
6-75

6-75

7-75

8-75

9-75

10-75

11-75

12-75

1-76

1967 *

MONTH
1

IN IT IA L

TERM INAL
MONTH

3-76

2-76

4-76

5-76

6—76

7-7 6

8-76

9-76

1 6 9 .7

2 .1

1 7 0 .3

7-75

3 .2

4 .3

8-75

5 .1

6 .»

8 .8

9-75

6 .5

8 .0

9 .9

10-75

8 .3

9 .9

1 1 .8

1 3 .3

1 5 .6

11-75

8 .4

9 .7

1 1 .1

1 1 .9

1 2 .4

9 .3

1 0 .9

1 0 .8

8 .5

7 .7

12-75

8 .3

100

10-76 11-76

9 .4

1 0 .4

1 7 1 .5
1 7 3 .0

1 1 .0

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

1-76

7 .9

8 .7

9 .5

9 .6

9 .3

7 .3

6 .3

4 .8

2-76

7 .1

7 .7

8 .2

8 .1

7 .5

5 .6

4 .4

2 .7

0 .7

3—
76

6 .8

7 .3

7 .7

7 .5

6 .9

5 .3

4 .3

3 .2

2 .4

4 .1

4-76

6 *5

7 .0

7 .3

7 .1

6 .5

5 .1

4 .3

3 .4

3 .0

4 .1

4 .1

5-76

6 .0

6 .4

6 .6

6 .3

5 .8

4 .4

3 .7

2 .9

2 .4

2 .9

2 .4

0 .7

6—
76

6 .0

6 .4

6*6

6 .3

5 .8

4 .7

4 .0

3 .4

3 .1

3 .7

3 .6

3 .4

6 .2

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

6 .2

6 .6

6 .8

6 .6

6 .1

5 .1

4 .6

4 .2

4 .1

4 .8

4 .9

5 .2

7 .6

9 .0

6 .4

6 .7

6 .9

6 .7

6 .3

5 .4

5 .0

4 .7

4 .7

5 .3

5 .6

6 .0

7 .8

8 .6

8 .2

181 .8

9-76

6 .7

7 *0

7 .2

7 .1

6 .8

6 .0

5 .7

5 .4

5 .5

6 .2

6 .6

7 .1

8 .8

9 .6

7 .5

8 .1

9 .6

o

7-76
«-76

o

1 8 0 .5

1 8 3 .0
1 1 .7

1 8 4 .7

10-76

7 .1

7 .4

7 .6

7 .5

7 .2

6 .6

6 .3

6 .2

6 .3

7 .1

1 0 .5

1 1 .0

1 2 .4

11-76

7 ,2

7 .5

7 .7

7 .7

7 .4

6 .8

6 .6

6 *5

6 .7

7 .4

7 .8

8 .4

9 .7

1 0 .4

1 0 .8

1 1 .6

1 1 .6

1 0 .1

12-76

7 .1

7 .3

7 .5

7 .4

7 .2

6 .6

6 .4

6 .3

6 .4

7 .0

7 .4

7 .8

8 .8

9 .3

9 .4

9 .6

8 .9

6 .9

3 .9

5-75

6-75

7-75

8-75

9-75

10-75

11-75 12-75

1-76

2-76

3-76

4-76

5-76

6-76

7 -7 6

8-76

9-76

10-76

11-76

IN IT IA L

1 3 .1

1 86 . 6
1 8 8 .1
1 8 8 .7

MONTH

WHOLESALE P R IC E S —
FARM PROOUCTS AND PRO CESSED FOODS ANO F E E D S , S E A S . A D J.
__________________________ COMPOUNDED ANNUAL R A T ES OF CHANGE______________________________
1967 * 100

I N I T I A L MONTH

TERMINAL
MONTH
5-75

6-75

7-75

8-75

9-75

10-75

11-75 12-75

1-76

3 -76

2-76

4-7 6

5-76

6—
76

7 -7 6

8-76

9-76 10-76 11-76
1 8 2 .0

6-75

- 6 .4

7-75

8 .1

2 4 .9

8-75

1 0 .9

2 0 .7

1 6 .7

9-75

1 1 .6

1 8 .3

1 5 .1

1 3 .6

10-75

1 1 .8

1 6 .9

1 4 .3

1 3 .1

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

1 9 1 .7

- 2 .8

1 8 8 .9

11-75

6 .6

9 .3

5 .8

2 .4

12-75

4 .5

6 .5

3 .1

0 .0

- 4 .1

- 1 1 .6

1-76

0 .7

1 .7

- 1 .7

- 5 .0

- 9 .2

- 1 5 .5 - 1 5 .1 - 2 2 .8

2-76

-2 .0

- 1 .4

- 4 .7

- 7 .8 - 1 1 .6 - 1 6 .8 - 1 7 .0 - 2 1 .7 - 2 0 .6

3-76

- 2 .0

- 1 .5

- 4 .4

- 7 .1 - 1 0 .2

- 1 6 .2

- 1 4 .1

1 8 7 .8

- 6 .8

1 8 3 .8

- 1 3 .6 - 1 5 ,8 - 1 2 .1

1 8 0 .3
1 7 9 .9

- 2 .6

4-76

1 .1

1 .9

- 0 .4

- 2 .3

— *4
4

- 7 .0

- 5 .0

- 4 .6

2 .4

1 6 .3

2 .1

2 .9

0 .9

- 0 .7

- 2 .4

- 4 .3

- 2 .2

- 1 .3

5 .0

1 5 .2

* > .o _
18 . 0

1 8 4 .9

39*i>

5-76

1 8 6 .8

i? t L .
4 .6

1 8 7 .5

6-76

2 .3

3 .0

1 .2

— *2
0

- 1 .6

- 3 *3

- 1 .3

- 0 .3

4 .9

1 2 .5

7-76

1 .3

1 .9

0 .2

- 1 .2

-2*6

- 4*2

- 2 .5

- 1 .9

2 .1

7 .3

8-76

- 1 .2

- 0 .8

- 2 .5

- 4 .0

- 5 .4

- 7 .1

- 6 .0

- 5 .9

- 3 .2

0.0

0 t5 .

- 7 .3

9-76

- 0 .4

0 .0

- 1 .5

- 2 .8

-4*1

- 5 .5

- 4 .3

— .0
4

- 1 .4

1 .7

2 t5 _

- 1 *6

- 7 .4

“ 1 0*9

_8 *t

1 8 5 .7

- 1 0 .9

l . I

.z29 tj>_
- 1 1 .o - U . 1

1 8 0 .3
1 2 .7

1 8 2 .1

10-76

- 1 .0

- 0 .7

- 2 .2

- 3 .4

— .6
4

- 5 .9

- 4 .9

- 4 .7 _

-2*S_

O .I

0 .5

- 4 .8

- 8 * 0 - 1 0 .9

11-76

- 0 .8

- 0 .5

- 1 .9

- 3 .0

- 4 .1

- 5 .3

- 4 .3

- 4 .1

- 2 .0

0 .4

0 .8

- 3 .8

- 8 .4

- 7 .7

1 .1

- 4 .2

2 .7

12-76

0 .9

1 .3

0 .1

- 0 .9

- 1 .8

- 2 .7

- 1 .6

- 1 .2

1 .1

3*_5_

4 .2

0 .6

- 1 .1

- 2 .0

- 0 .1

9 .1

7 .9

1 8 .6

5-75

6-75

7 -7 5

8-75

9-75

10-75 11-75 12-75

1-76

3 -7 6

4 -7 6

5-76

6-76

7 -7 6

8-T6

9-76




2-76

IN IT IA L

1 8 0 .4

0 .3 - 1 0 .6

1 8 0 .8
3 6 .9

1 8 5 .6

10-76 11-76

MONTH

P REPA RED BY F E D E R A L R ES E R V E DANK OF S T .
JANUARY 12* 1 9 7 ?

6

L O U IS

INDUSTRIAL
RATI O

PRODUCTION

SCALE

RATI O

1967-100

SEA SO N A LLY

1969

1970

PERCENTAGES

ARE

LATEST

PLOTTEDi

O ATA

1971

ANNUAL

RATES

DECEMBER

1972
OF

CHANG E

1973
FOR

PER IO O S

SCALE

1967-100

AD JU ST ED

1974

1975

1976

19 77

IND ICATED.

PRELIM INARY
PREPARED

BY

FEOERAL

RESERVE

BA N K

OF

ST.

LOUIS

IN D U S T R IA L PRODUCTION
COMPOUNDED ANNUAL R ATES OF CHANGE
IN IT IA L

T ERM INA L
MONTH
5-75

6-75

7-7»

8 -7»

9 -7 »

10-7»

11-7»

12-75

1-76

1967 * 100

MONTH

2-76

3-76

4-76

5-76

6—
76

7 -7 6

8-76

9-76

10-76 U - 7 6
1 1 6 .4

6-75

3 2 ,5

7-75

2 7 ,5

2 2 .7

8 -7»

2 8 *3

2 6 ,2

29. 8

2 1 .1

2 0 .3

1 1 .5

1 1 8 .4
1 2 1 .0
1 22 .1

9-75

2 3 .6

10-75

1 8 .9

1 5 ,7

1 3 .»

6 .1

1 .0

11-75

1 8 .0

1 5 ,3

1 3 .5

8 .5

7 .1

1 3 .5

1 2 3 .5

12-75

1 6 .7

1 4 .2

1 2 .6

8 .7

7 .8

1 1 .3

1 2 4 .4

1 2 2 .2

1 2 5 .7

1-76

1 6 .2

1 4 .1

1 2 .7

9 .6

9 .1

1 2 .0

1 1 .2

1 3 .3

2-76

1 6 .3

1 4 .4

1 3 .2

1 0 .7

1 0 .5

1 3 .1

1 2 .9

1 4 .8

1 6 .4

3-76

1 5 .4

1 3 .6

1 2 .»

1 0 .3

1 0 .1

1 2 .0

1 1 .6

1 2 .4

1 2 .0

4-76

1 4 .2

1 2 .5

1 1 .4

9 .3

9 .0

1 0 .4

9 .8

1 0 .0

8 .9

» .3

2 .8

»-76

1 4 .0

1 2 ,4

1 1 .»

9 .6

9 .4

1 0 .6

1 0 .1

1 0 .3

9 ,6

7 .4

7 .2

1 1 .8

6-76

1 3 ,2

1 1 .8

1 0 .8

9 .1

8 .8

9 .9

9 .3

9 .4

8 .6

6 .7

6 .4

8 .2

4 .7

8 .8

8 .9

8 .8

8 .1

6 .»

6 .2

7 .4

5 .2

1 2 7 .3
7 .8 ^ \

128 .1

\7.0%

1 2 8 .4
1 2 9 .6
130 .1
5 .7

1 3 0 .7

7-76

1 2 ,7

1 1 ,3

1 0 .4

8 .5

9 .4

8-7t>

1 2 .2

1 0 .9

1 0 .0

8 .»

8 .2

9 .0

8 .»

8 .4

7 .8

6 .4

6 .1

6 .9

5*4

5 *7

5 .7

76

1 1 .1

9 ,3

« .9

7 .»

7 .1

7 .7

7 .1

6 .9

6 .1

4 .8

4 .3

4 .5

2*8

2 .2

0 .5

- 4 *5

10-76

1 0 ,2

8 ,9

8 ,0

6 .6

6 .3

6 .7

6 .1

5 .8

5 .0

3 .7

3 .1

3 .1

1 .5

0 .7

- 0 .9

- 4 .0

1 3 1 .3
1 30 .8
- 3 .6

1 3 0 .4

11-76

1 0 .4

9 .2

8 .4

7 .1

6 .8

7 .3

6 .8

6 .6

5 .9

4 .8

4 .»

4 .7

? .6

3 .4

2 .8

1 .8

5 ,2

14*7

12-76

1 0 .3

9 ,2

8 ,4

7 .2

7 .0

7 .4

6 .9

6 .8

6 .2

5 .2

4 .9

5 .2

4 .3

4 .2

3 .9

3 .5

6 .3

11*6

5-75

t> 75
—

7-75

6-75

9-75

10-75

11-75

12-7»

1-76

2-76

3-76

4-76

5-76

6-76

7-76

8-76

IN IT IA L

9-76 10-76

1 3 1 ,9P
8 *5 I

1 3 2 ,8P

11-76

MONTH

P - P R E L IM IN A R Y




P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F ST. L O U I S
J A N U A R Y 18, 197 7

7

PERSONAL
RATIO

SCALE

TRILLIONS

MONTHLY

OF

DOL LARS

TOTALS

INCOME
AT ANNUAL

SEASONALLY

RATIO

RA T E S

TRILLIONS

ADJUSTED

OF

SCALE

DOLLARS
1

.6

1 .5
1. 4
1 .3
1

.2

1. 1

1. 0

0.9
0.

0.8

0.

0.7

0 .6

1969

1970

1971

1972

1973

1974

1975

SOURCE»
PERCENTAGES

ARE

LATEST

PLOTTED»

DATA

ANNUAL

RATES

DECEMBER

OF

CHANGE

FOR

PERIO D S

U .S.

1976

1977

DEPARTMENT

OF

CO MM ERC E

IND ICATED .

PRELIM INARY
PREPARED

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

PERSONAL INCOME
COMPOUNDED ANNUAL RATES OF CHANGE
IN IT IA L

TERM INAL
MONTH
5-7»

6-75

7-75

0-75

9-75

10-75

11-75

12- 75

1-76

2-76

B I L L I O N S OF
DOLLARS
ANNUAL R ATES

MONTH
3-76

5-76

4-76

6-76

7-76

8-76

9-76

10-76

11-76
1 ,253.7

6-75

33* 7

7-75

14.7

-1.6

8-75

15.1

6.8

1,252*0
15.9

1,267*5

9-75

13.7

7.7

12.6

9.5

10— 75

13.7

9.1

13.0

11.5

1,277*1
13.7

1.290.8

11-75

12.9

9.1

12.0

10.7

11.4

9.1

12-75

12.1

8.9

11.1

9.9

10.1

8.4

7.6

1-76

12.1

9.3

11.3

10.4

10.6

9.6

9.9

12.2

2-76

11.9

9.4

11.1

10.3

10.5

9.7

9.9

11.1

10.1

3— 76

11.7

9.5

11.0

10.3

10.4

9.8

9.9

10.7

10*0

9*9

4— 76

11.5

9.5

10.8

10.2

10.3

9.8

9.9

10.5

10.0

9.9

9.9

5-76

11 . 4

9*5

10-7

10.2

10-2

9.8

9.9

10.3

9-9

9-8

9.8

9.6

6-76

11.0

9.3

10.4

9.8

9.9

9.4

9.4

9.7

9.3

9.0

8.8

0.2

6.6

7-76

10.9

9.3

10.3

9.8

9.8

9.4

9.4

9.7

9.3

9.1

9.0

8.6

8.1

9.5

fi—76

10-4

8-9

9 - ft

9-3

9-3

8-9

8-8

9.0

8.5

8.3

8.0

7.5

6-8

6.8

4.2

1,300.2
1 , 3 0 8 *2
X , 3 2 0 *6
1,331*4
1,341*9
1,352.5
1,362.9

.

1,370.4
1 ,380.8
1*385.5

9—76

1Û. 1

8-7

9-5

9-0

9.0

8-6

8.5

8.6

8.2

7.9

7.6

7.1

6^5

6*4 .

4*6...

1O— 7fc

10.2

8.9

9.6

9.2

9.2

8.8

8.8

8.9

6.5

Ô.3

6.1

7.8

7,4

7 *.6

7*0

6*4

11*3

1 1-76

10.5

9.3

10.0

9.6

9.6

9.3

9.3

9.5

9.2

9.1

9.0

8.9

8.6

9.2

9.1

10.8

13.5

15.7

12-76

10.9

9.7

10.4

10.1

10.1

9.9

9.9

10.1

9.9

9.9

9.9

9.9

10*0.

10*5

10*7

12.4

14. f i

16*6^

5-75

6-75

7-75

8-75

9-75

10-75

11-75

12-75

1-76

2-76

3-76

4-76

5-76

6— 76

7-76

8-76

9-76

IN IT IA L

3.5

1*391.7
1,404*2

10-76

1*421.4
1 7*6

1.V40.7P

11-76

MONTH

P - P R E L IM IN A R Y




PREPARED BY FEDERAL RESERVE BANK OF S T .
JANUARY 16• 1977

8

L O U IS

RETAIL
RATIO

SALES

SCALE

BILLIONS

RATIO

OF

1969

DOLLARS

1970

SEASONALLY

1971

1972

BILLIONS

ADJUSTED

1973

1974

1975

SOURCEt
PERCENTAGES

ARE

LATEST

PLOTTED!

DATA

ANMUAL

RATES

OF

NOVEMBER,

CHANGE

FOR

DECEMBER

PER IO D S

ADVANCE

U .S.

OF

1976

SCALE

DOLLARS

1977

DEPARTMENT

OF

CO MM ERC E

IN D ICATED .

ESTIM ATE

PREPARED

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

R E TA IL SALES
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL

M ILLIONS OF
DOLLARS

I N I T I A L MONTH

MONTH

5 -7 5

6 -7 5

6 -7 5

1 6 .5
1 4 .0

14*7

9 -7 5 1 0 -7 5 1 1 -7 5 12 -7 5

1 -7 6

2 -7 6

3 -7 6

4 -7 6

5 -7 6

6 -7 6

7 -7 6

8 -7 6

9 -7 6 1 0 -7 6 1 1 -7 6

2 0 .*

8 -7 5

8 -7 5

1 2 .7

7 -7 5

7 -7 5

48 ,6 5 2
4 9 ,4 1 1
9 .2

4 9 .7 7 4
4 9 ,6 4 4

9 -7 5

9 .5

8 .4

2 .9

-3 .1

1 0 -7 5

9 .3

8 .5

4 .8

2 .7

8 .8

1 1 -7 5

1 0 .1

9*6

7 .1

6*4

1 1 .5

14*2

1 3 .1

1 1 .7

1 2 .3

17*9

22*8

3 2 .0

1 2 -7 5

13*0

4 9 ,9 9 5
50 ,5 5 2
51 ,7 3 4

1 -7 6

10*8

1 0 .6

9 .0

9 .0

12*2

13*4

1 3 .0

-3 .2

2 -7 6

12*4

1 2 .4

11*3

11*7

1 4 .9

1 6 .5

1 7 .2

1 0 .5

2 6 .2

51 ,592

3 -7 6

1 3 .0

1 3 .1

1 2 .2

1 2 .6

1 5 .5

1 6 .8

1 7 .5

1 3 .0

22*2

1 8 .3

4 —76

1 2 .6

12*6

1 1 .7

1 2 .0

1 4 .4

1 5 .4

1 5 .6

1 1 .8

17*3

1 3 .2

5 -7 6

9 .B

52,601

9 .5

8 .5

8 .4

9 .9

1 0 .1

9 .4

5 .3

7*6

2 .0

1 1 .0

1 0 .1

1 0 .2

11*8

12*2

1 1 .9

8 .9

11*5

5 3 ,344
53 ,696

8 .2

8 .1

5 2 ,8 6 8

—5*2 - 1 7 . 0
4 .9

3 .3

5 3 ,9 8 3

28*5

7 -7 6

9 .9

9 .6

6 .8

e .a

10*0

1 0 .1

9 .7

6*8

8*6

5 .3

2 .3

0 .4

1 0 .5

-5 .0

8 -7 6

10*6

10*5

9*7

9 .8

11*0

11*3

1 0 .9

8*6

10*4

7 .9

5 .9

5 .4

1 4 .1

7 .6

9 -7 6

9*1

8 .9

8*1

8 .0

9*0

9 .0

8 .5

6 .1

7*4

4 .9

2 .9

1 .8

7 .2

0 .9

3 .9 -1 1 .3

1 0 -7 6

9 ,3 _

9*1

8 .4

8 .3

9*2

9 .3

8 .8

6. 8

7 .9

5 .9

4 .2

3 .5

8 .2

3 .7

6 .7

5 3 ,7 5 4
5 4 ,6 4 3

2 1 .8

-0 .1

54 ,100
54*634

1 2 .5

5 5 ,657P

1 1 -7 6

1 0 .1

10*0

9 .3

9 ,3

10*3

1 0 .4

1 0 .1

8*3

9 .5

7 .8

6 .6

6 .3

1 0 .8

7 .6

1 1 .0

7 .6

1 8 .6

2 4 .9

1 2 -7 6

1 1 ,7

1 1 .6

U tl

11*2

12*3

1 2 .5

1 2 .4

10*9

1 2 .3

1 1 .0

1 0 .2

1 0 .4

1 5 .0

1 2 .9

16*9

1 5 .7

2 6 .5

34 »1

5 -7 5

6 -7 5

7 -7 5

8 -7 5

9 -7 5

1 0 -7 5 1 1 -7 5

12 -75

1 -7 6

2 -7 6

3 -7 6

4 -7 6

5 -7 6

6— 76

7 -7 6

8 -7 6

9 -7 6 1 0 -7 6 1 1 -7 6

IN IT IA L

4 3 .9

57,371E

MONTH

P - P R E L IM IN A R Y
i ^ - E S T iM AJ E P __________________ _____ ____________________________ ___ _______________________________________________________________________________________________________________
PREPA RED BY FED ERA L R E S E R V E BANK OF S T . L O U IS
JANU ARY 12# 1977




9

HOU*LY COMPENSATION, PRIVATE B U SIN ESS SECTOR
_____COMPOUNDED ANNUAL RATES OF CHANCE__________
TERM IN A L___________________ ___________________________ _________________________ I N I T I A L QUARTER_______________________________________________________________________ 1967 - 100
QUARTER
4-72
1-72
2-7 2
3-72
1-75
4-71
3-75
4-75
3-73
3-74
4 -7 4
2 -75
1-73
2-73
4-7 3
1-76
2-76
1-74 2 -7 4
136 .1

1-72

8 .3

2-72

6 .7

5 .1

3-72

5 .8

4 .6

1 3 7 .8
4 .1

1 3 9 .2

4-72

6 .4

5 .7

6 .0

8 .0

1-73

7 .7

7 .6

8 .4

10*6

1 3 .3

2-7 3

7 .4

7 .2

7 .8

9 .0

9 .5

5 .9

1 4 1 .9
1 4 6 .4
1 4 8 .5

3-73

7 .3

7 .2

7 .6

8 .5

8 .6

6 .4

6 .9

4-73

7 .5

7 .4

7 .7

8 .5

8 .6

7 .1

7 *7

8 .5

1-74

7 .5

7 .4

7 .8

8 .4

8 .5

7 .3

7 .8

8 .2

8 .0

2-74

8 .0

8 .0

8 .4

9 .0

9 .1

8 .3

9 .0

9 .6

1 0 .2

1 2 ^ \ 1 l, 2 %

1 6 1 .e

3-74

8 .4

8 .5

8 .8

9 .4

9 .6

9 .0

9 .7

1 0 .4

1 1 .0

1 2*6

1 2 .7

1 6 6 .7

1 0 .3

1 0 .8

1 1 .7

1 1 .3

1 5 1 .0
1 5 4 .1
1 5 7 .1

4-74

8 .6

8 .6

8 .9

9 .5

9 .7

9 .2

9 .7

1-75

8 .9

8 .9

9 .3

9 .8

1 0 .0

9 .6

10*2

10*8

1 1 .2

1 2 .0

1 1 .9

1 1 .5

2-75

8 .8

8 .8

9 .1

9 .6

9 .7

9 .3

9 .8

1 0 .2

1 0 .5

1 1 .0

1 0 .6

1 0 .0

1 0 .0

7 .0

8 .8

8 ,4

6 ,1

5 .2

8 .7

8 .4

6 ,9

6 ,8

3-75

_§f£_

8 .8

9 .2

9 ,3

8 .9

9 ,3

9 .6

9 .7

1 0 ,0

9 .5

8 .8

0 *5

4-75

9 .1

9 .2

8 .9

9 .2

9 .4

9 .6

9 .8

9 .3

» >

1 7 0 .7
1 7 6 .0

W

1 7 9 .0
1 6 1 .3

v / ./ y o

1 8 5 .0

8 * 4 V

1-76

8 .7

8 .7

8 .9

9 .3

9 .4

9 .0

9 .3

9 .6

9 .7

9 .9

9 .5

9 .0

8 .9

7 .8

8 .1

9 .6

1 0 .8

2-76

8 .6

8 .6

8 .8

9 .2

9*2

8 .9

9 .2

9 .4

9 .5

9 .7

9 .3

8 .8

6 .6

7 .8

8 .0

8 .9

9 .2

7 .6 ^ \

1 9 3 .3

3-76

8 .5

8 .5

8 .7

9 .0

9 .1

8 .8

9 .0

9 .2

9 .3

9 .4

9 .1

8 .6

8 .4

7 .7

7 .8

8 .5

8 .5

7 .4

1 9 6 .7

4-71

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2 -7 4

3-74

4-7 4

1-75

2-75

3-75

4—75

1-76

2-7 6

3-75

4-75

1-76

2 -7 6

IN IT IA L

1 8 9 .8

7 .2 1

QUARTER

OUTPUT P E R HOUR OF A LL PERSO N S » P R IV A T E B U S IN E S S SECTOR
_______________COMPOUNDED A W U A L R A T ES OF CHANGE__________
1967 « 100
=

I N I T I A L QUARTER

TERMINAL
QUARTER
4-71

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4 -7 3

1-74

2 -7 4

3-74

4 -7 4

1-75

2-75

3 .4

109.^

2-72

3 .7

110.4

3-72

3 .1

2 .9

1 .8

4-72

3 .9

4 .0

4 .0

6 .3

1-73

4 .1

4 .3

4 .4

5 .7

1-72

4 .1

1 1 0 .V
112.6
114.0

5 .1
1

112.9

2-73

2 .7

2 *6

2 .3

2 .4

0 .5

- 3 .8

3-73

2 .0

1 .8

1 .4

1 .3

— .4
0

- 3 .0

- 2 .1

4-73

1 .8

1 .6

1 .2

1 .1

- 0 .2

- 1 .9

- 0 .9

0 .4

1-74

0 .9

0 .5

0 .1

- 0 .2

- 1 .5

- 3 .1

—2*8

- 3 .2

2-74

0 .4

0 .0

- 0 .5

- 0 .8

- 1 .9

- 3 .2

- 3 .1

- 3 .4

- 5 .3

- 3 .9

3-74

0 .1

- 0 .2

- 0 .7

- 1 .0

- 2 .0

- 3 .1

- 3 .0

- 3 .2

- 4 .4

- 3 .2

- 2 .5 ^

4-74

- 0 .2

- 0 .6

- 1 .0

- 1 .3

- 2 .2

- 3 .2

- 3 .2

- 3 .4

- 4 .3

- 3 .5

- 3 .3

- 4 .0

112.3
\

"r\

112.4
.6 %

- 6 .6

110.5
109.4
ioe.7
107.6

1-75

- 0 .1

- 0 .4

- 0 .8

- 1 .0

- 1 .8

- 2 .6

- 2 .5

- 2 .5

- 3 ,1

- 2 .2

- 1 .6

- 1 .1

! > , —'■
'w
1

108.1

2-75

0 .8

0 .6

0 ,3

0 ,2

- 0 .4

- 1 .0

- 0 .7

- 0 .5

— .6
0

0 .7

1 .8

3 .3

7 .2

1 2 .8

111.4

3-75

1 .3

1 .1

0 .9

0 ,8

0 .3

— .1
0

0 ,3

0 .6

0 .6

1 .9

3 .1

4 .5

7 .5

1 0 .4

4-75

1 .1

0 .9

0 .7

0 .6

0 .2

- 0 .3

0 .1

0 .4

0 .4

1 .4

2 .3

3 .3

5 .2

6 .3

3 .3

- 1 .4

1-76

1 .5

1 .3

1 .2

1 .1

0 .7

0 .4

0 .8

1 .1

1 .1

2 .1

3 .0

4 .0

5 ,7

6 .7

4 .7

3 .0

7 ,6

2-76

1 .6

1 .5

1 .3

1 .3

0 .9

0 .6

1 .0

1 .3

1 .4

2 .3

3 .1

3 .9

5 .3

6 .0

4 .4

3 .2

5 .6

3 .5

3 .2

4 .7

3 .3

3-75

4-75

1-76

3-76

8 .1

1 .7

1 .6

1 .4

1 .4

1 .1

0 .8

1 .2

1 .4

1 .5

2 .4

3 .1

3 .8

5 .0

5 .5

4 .1

4-71

1-72

2-7 2

3-72

4-72

1-73

2-73

3-73

4-7 3

1-74

Z —74

3-74

4 -7 4

1-75

2-75




113.6

5 %

V

113.2
115.3
116.3
3 > ^

117.2

2-7 6

I N I T I A L Q U A RtER

P R E P A R E D BY F E D E R A L R E S E R V E B A N K OF ST.
D E C E M B E R 1, 1 9 7 6

10

LOUIS

PRODUCTIVITY,
RATIO

COMPENSATION, AND LABOR COSTS

SCALE

RATIO

1 9 6 7 -1 0 0

seasonally

1 9 6 7 - 1 0 0

SOt RCEi
fERC lMTA WS AM

AWMWAL RATES Of CHAM6E FOR PERIODS

LATEST DATA PLOTTED.

SCALE

adjusted

I.J.

ttfA M T W iH T Of LABOR

INDICATED.

3RD QUARTER
PREPARED S t FEOERAL R ESERVE BAHT Of

ST.

LOUI S

U N IT LABOR C O ST S , P R IV A T E B U S IN E S S SECTOR
COH POUNDED ANNUAL RATES OF CHANCE_______
1967 *

I N I T I A L QUARTER

T ERM IN A L
QUARTER
4—7 i

1-72

2-72

3-72

4 -7 2

1-72

2 *6
2.6

1 .6

4-72

2 .4

1 .6

1 .9

3 .4

3 .1

3 .9

4 .7

4 .6

4 .5

5 .4

6 .5

9 .1

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

100

2 -7 6

7 .8

2-73

4-73

1 .6

1-73

3-73

1 .0

3-72

2-73

4 .6

2-72

1-73

124.5
1 2 4 . fa
2 .3

12 5 . 5
126.0
1
128.4
1 0 .3

131.6

3-73

5 .1

5 .2

6 .1

7 .1

9 .0

9 .6

8 .8

4-7 3

5 .5

5 .7

6 .5

7 .3

8 .8

9 .1

8 .5

1-74

6 .6

6 .8

7 .7

8 .6

1 0 .1

1 0 .7

1 0 .8

1 1 .8

1 5 .4

2-74

7 .6

8 .0

8 .9

9 .8

1 1 .3

1 2 .0

1 2 .4

1 3 .6

1 6 .4

1 7 .4

3-74

8.3

8 .7

9 .6

1 0 .5

1 1 .9

1 2 .5

1 3 .0

1 4 .1

1 6 .1

1 6 .4

4 -74

tì.8

9 .2

1 0 .1

1 1 .0

1 2 .2

1 2 .8

1 3 .2

1 4 .2

1 5 .7

1 5 .8

1 5 .0

1-75

9 .0

9 .4

1 0 .2

1 1 .0

1 2 .1

1 2 .6

1 3 .0

1 3 .7

1 4 .8

1 4 .6

1 3 .7

1 2 .9

2 -75

7 .9

8 .2

8 .8

9 .4

1 0 .2

1 0 .5

1 0 .5

1 0 .8

1 1 .2

1 0 .3

8 .7

6 .5

3-75

7 *2

7 .3

7 .8

8 .3

9 .0

9 .1

8 .9

8 .9

9 .0

8.0

6 .2

4 ,0

0 .8

- 4 .1

- 3 .0

4 -75

7 .3

7 .5

8 .0

8 ,5

9 .1

9 .2

9 .0

9 .1

9 .2

8 .3

6 .9

5 .2

3 .0

0 .4

3 .4

1 3- 4. 4
1 3 7 .1
1 42.1

\14.8%

147.9
153.3
158.6

...

1 1 .3 ^|
.
1 \
2 .7
- 5 .3

162.V
160.7
159.5
\2 .U 7 o
1 0 .1

163.4

1-76

7 .1

7 .2

7 .7

8 .1

8 .6

8 .7

8 .5

8 .5

8 .5

7 .7

6 .3

4 .9

3 .1

1 .1

3 .3

6 .6

3. 2 s

2 -76

6 .9

7 ,0

7 .4

7 .8

8 .2

8 .2

8 .1

8 .0

8 .0

7 .2

6 .0

4 .7

3 .1

1 .6

3 .4

5 .6

3 .3

3 ^

1 66.1

3-76

6 .7

6 .9

7 .2

7 .5

7 .9

7 .9

7 .8

7 ,7

7 .6

6 .9

5 .8

4 .6

3 .3

2 .0

3 .5

5 .2

3 .6

3 .8

1 67.8

4-71

1-72

2 -72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2 -7 4

3-74

4-74

1-75

2-7 5

3-75

4-75

1-76




164.7

2 -7 6

I N I T I A L QUARTER

PR E P A R E D BY FEDE R A L RE S E R V E BANK OF ST.
D E C E M B E R 1, 1 9 7 6

11

LOUIS

G R O S S N A T I O N A L P R O O U C T IN C U R R E N T O O L L A R S
C O M P O U N D E D A N N U A L R A T E S OF C H A N G E ________
B I L L I O N S OF
DOLLARS
ANNUAL RATES

INITIAL Q U A R T E R

T ERM INAL

QUARTER

1-72

2~22

9 .9

3-72

4-72

1-73

2-73

3-73

4-73___ 1~74

=1 3 -7 »
1 ___

2~74___3 - 7 4 _ 4-.14___I r l S ___ 2
_

4 -7 »

1-76

2-76

3-76

_ ll. f i _

3-72

2-72

l t l» 6 .7
8 .8

u ie i.4

4-72____ 1 1 .1

1 1 ,1 ___ 1 1 .5

1 - 1 3 ____ 1 2 .3

1 2 , 7 ___1 4 . 7 ___15 .9

1 ,2 6 » >3

2-73

1 1 .4 ___1 2 .3 ___1 1 .6 ____

L t 2 e e .4

11*3

3 r 7 3 ____ 1 1 . 0

- Lt.2 1 9 ,4 .

1 1 . 0 ___ L U S ___ 1 0 . 9

6.4

1 1 , 1 ___ 1 1 . 6

_ 4 r I 3 ____ 1 1 , 1

11.1

9,6

9 t l.
10.6

1 »3 1 7, 5
1,3 » » .l

11,9

10.4

10.3

10.»

9.9

8 .»

8.6

2 , 7 4 ____ 1 0 . 1

10,0

10.2

9,6

6.4

8.4

1-74

6 %
6.6
7 ,6

3 - 7 4 ___ l i U S ____ 9 1.9__- LQ . 1____ 9 „ 6 ____ ^ 6

4 - 74

9,6

9 . 4 ____ 9 . » ____ 9 , 0

8.1

8 .7

8 ,»

6 .9

6 .8

6 ,4

7 ,9

1 ,3 9 9 .4
.9 * »

8.2

1-7 5

1 ,3 7 2 .7

_LdL_

-JU431.6

r 2 .1 % -

1 »449. 2 .

J L t I ____ » . o
6 .4

» ,3

» ,4

2 .1

4 .»

— ,
0

1 ,44 6 .2

8.6

____ 1 , 1 ____ 7 , 3 ____ 7 , 0 ____ ^ , 2 ____ £ j d ____ » , 9 ____ 4 , 7

8.6

4,6

10,4

I ,4 3 2 . 3

ft^.4____ 8 ^ » ____ &*4____ 7 , 9 ____ S_,4____ ________ 8 , 2

9,3

14,7

1 ,5 4 3 ,7

6.7

9.6

13.3

14.8

it» e e .2

9.3

10.2

13.1

14.1

1 ,6 3 6 . 2

9 , 4 ____ 9 . 4

2^75

10.1

12.»

1 3 . 0 ___ 1 L . 0

1 *675.2

3-7»

.9 ^ 5

4r J 5

. 9 ^ 6 ____ 2 ^ 5 ____ 2 ^ 5 ____ 2*2____ 2 ^ 6 ____ 6 ^ 2 ____ &±1____ 6 . 3

1^76

_ 2 . 4 ____ 9 , 1

--9_>fl____ 9 , 2

6,7

8.6

- 9 . » ____ 6 , 9 ____ 2*1____ 9 , 1 ____ 6 * 2 ____ 9 , 2 _

2-76
3-76

9-. 7____ 9 . 6

9 . 7 ____ 9 . 4

9 .0 ___ 9 .1

9.1

9.2

9 .3 ___ 2^3___ 2^2__ LUâ_ 12.1_ 10^.4__ 10,3___ 2^2___ 6 .5
_
_

4-76

9 *7

9 .6

9 .7

9 .4

9 .0

9 .1

9 .1

8 .9

9 .2

9 .3

9 .3

9 .8

1 1 .»

1 1 .6

1 0 .2

1 0 .1

9 .3

8 .9

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-7»

2-75

3-75

4 -7 »

1-76

2-76

1 ,7 4 8 ,»P

9 ,4 \

3-7 6

I N I T I A L QUARTER
P - P R E L IM IN A R Y

GROSS NATIONAL PRODUCT IN CONSTANT 1972 DOLLARS
_________ COMPOUNDED ANNUAL PA TES QF C H A N S E __________

l E R ttlNA l_

BILLIONS OF

IN IT IA L QUARTER

l- IZ

JZ r l Z-.,, 3. - 7 2 — ,4 r 7 2 ___ 1 - 7 3

,2-73

3-73

4-73

1-74

2-74

3-74

E Q J .L A R .S _

AN UAL RATES
N
4-74

1-7»

2-7»

3-7»

4 - 7 » ___ l ~7fr

2-76

3~7<>

2-72

7 , 9 ____________________________ _________________________________________________________________________________________________________________________________________________________ _____

1 ,1 6 3 ^ 0

3-72

6 . 6 _____ » , 3

1 ,1 7 8 .0

4-72

JLsl___ £*2____6 . 5-

1-13_
2-73

3-73

i t 202^2

7 ,7 ____ 9 10____ 9 , »
6. . 3

_ » . 2 ____ 6 . 1_

. 5 *5 ____ ________ 4 ju SL
5 .0

1 ,2 2 9 .6

J

.4^ 9-

1 .2 3 1 .1

_i ^ i ____ L t i _ 3 * 4 ____ L -

4.»

A%.

0 .0

_L-7 4,

1 |2 4 2 ,6

1 .9

~3.2%

- 0 .1

1 .2 3 0 .4

3-74

1.0

-0 ,6

- O .E

-1 . 7

- 3 .»

- 3 .j_

1 .9

1 .5

0 ,»

- 0 .9

- 1 .2

- 1 .9

- 3 .2

- 2 .8

- 2 .ô \ _

1 .6 ____ 1 .0

_2 r2 4

0,5

-0.4

-1.

- 2 .1

- 2 .9

- 4 .1

- 4 .2

- 4 .7

a

_1^0____
2 .»

A t .Z W Æ .

_1

1.212.9
4%1 .1 9 1 ,7

1-7»

0 .6

-0. 1

— .6
0

- 1 .»

-2.6

- 3 .3

- 4 .1

- » .3

- 5 .6

— , 5
6

- 8 .4

- 9 .9 X

2 -7 5

1 .0

0 .4

- 0 .0

- 0 .8

- 1 .9

- 2 .2

- 2 .8

- 3 .»

- 3 .5

- 3 .6

- 3 .9

- 2 ,4

-0.8

- 0 .3

3-75 l
-4-75

1 .2

-1.2 —
1 .6 -

. .0 ,9
-1^1

0.2

-0*7

.-0.6

.2 ,0

T

\

1 .1 7 7 .1

6 ,5

1 .2 0 9 .3

1 1 .4 ^

- 1 ,1

-1*»

- 1 ,1 _

l
_
Q*5___=0 «3___r Q . 4 _ - 0 .6

- 0 ,9

- 0 .5 ___~Q . 1____ 0 .4 ----2.-3----6 .7 --- 7 . 3

1 . 2 ____ 1 ,8

1 .1 6 1 .1

'

» ,6

3 > \ 5 ,8 %

i- lt L

0.3

0.1

0 .6 _

1.6

2 ,4 _

1»219.2

±2

1 . 6 ____ 1 , 1 ____ 0 , 4 ____ 0 . 4

0 .7

0 .6

1.1____1,6___ 2a 2___ l^fi___ t>,3___ 7^0___ 5*6

1 . 4 ____ 0 . 7

. 3 .6

1 , 1 _____ 7 . 9 _____ 6

I . 2 4 6 .3

1.272*2.

2 .1

JL .9 ____ 1 .5

1 .3-

1 .8

2 .4 ____ 3^ß____ 6 jl3 _

2 .»

2 ,2

2 ,0

1 .6

1 .1

1 .2

1 .1

1 .0

1 .5

2 .0

2 .»

3 .7

» .8

5 .8

4 .7

5 .1

3 .8

3 .4

1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

-3—
76
4-76

-

. Qfc.9_

____ 5^ß____ 4 .2
3 .0 \

1 .2 6 1 . 5 P

3-76

INITIAL QUARTER
P- PRELIMINARY




P R E P A R E D BY F E D E R A L R E S E R V E BANK OF ST.
J A N U A R Y 18, 1 9 7 7

12

LOUIS

_

DEMAND AND PRODUCTION
R A T I O S CAL E
T R I L L I O N S OF

R A T I O S C AL E
QU AR TE R LY TOTALS AT ANNUAL RATES
T R I L L I O N S OF D OL L A RS
DOLLARS
SEASON ALL Y ADJUSTED

1 .9
1 8
1 .7
1 .6
1 .5
1.

4

1 .3
1.

1.

2

1 .7
1 .6
1.

1.5
1.4

0 .

1 .3
1 .2
1.1

1 .

1.0

0.9

0 .

0.8

0 .

1969

1970

1971

1972

1973

1974

1.875

1976

1977

SOURCE. U.S. DEPARTMENT OF COMMERCE
U.CNP IN CURRENT DOLLARS.
£.CNP IN 1972 DOLLARS.
PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIOOS INDICATED.
LATEST DATA PLOTTED. 4TH OUARTER PRELIMINARY
BV
CT
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS




13

GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

1 9 72 -1 00

1969
*AS

USED

SCALE

1972- 100

1970
IN

NATIONAL

PERCENTAGES

ARE

LATEST

1971
INCO ME

PLOTTED«

DATA

ANNUAL

RATES

4TH

1972

1973

1974

ACCOUNTS
OF

QUARTER

1975

SOURCE«

CHANCE

FOR

PERIO DS

U .S.

1976
DEPARTMENT

1977
OF

CO MM E RC E

INDICATED.

PRELIM INARY
PREPARED

BY

FEDERAL

RESERVE

BANK

OF

ST.

LOUIS

I M P L I C IT P R IC E DEFLATOR FOR GROSS NATIONAL PROOUCT
___________ CQHPOUNOEO ANNUAL RATES OF CHANGE
_________
T ER M IN A L
QUARTER

IN IT IA L
1-72

2-72

3-72

4-72

1-73

2-73

3-73

4-73

1-74

1972 « 100

QUARTER

2-74

3-74

4—
74

1-75

2-75

3-75

4-75

1-76

2-76

3-7 6
99*45

2-72

2^e

3-72

3 .1

3 .4

4-72

3 .6

4 .0

4 .7

1-73

4 .2

4 .6

5 .3

5 .8

2-73

4 .7

5 .2

5 .8

6 .4

\ 7 .5 %
7 .0 ^

1 04 .6 5

3-7 3

5 *2

5 .7

6 .3

6 .8

7 .3

106*57

1 0 0 .2 9
101*44
1
102*89

7 .5

109 .0 5

4-73

5*8

6 .3

6 .9

7 .5

8 .1

8 .6

1-7^

6 *3

6 , S.

7 .4

7 .9

8 *4

8*9

9 .6

9 .5

2-74

6 .9

7 .4

7 .9

8*5

9 *0

9 .5

1 0 .2

1 0.5

3-74

7 ,4

7 .9

4—74

7 *9

$ .4

1-75

8 .0

8 .5

2-75

7 .8

. £ .2

8 .6
8 .5

v

1 11 .5 6
11.5

1 1 4 ,6 4

1 2 .4 ^

118 .0 3

9*0

9 .6

10*1

10*8

11.1

8 *9

9 .5

1 0*0

1 0 .5

1 1.1

1 1 .5

12.2

12*5

12*7

9 .1

9 .6

1 0 .0

1 0 .5

1 1 .0

1 1.2

1 1.6

1 1 .7

1 1 .4

9 .0

9 .4

9 .7

1 0 .0

10.1

10.2

9 .8

9 .0

7 .2

8 *5

if!
rl
m

7 .7

£ .1

4-75

7 .7

. ÌL.0

1-76

7 .4

7 .7

2—
76

7 .2

7 .5

7 .8

8 .0

3-76

7 .1

7 .3

7 .6

7 .8

4-76

7.<J

7 .3

7 .5

7 .7

1-72

2-72

3-72

4-72

11.9

\M L2 %

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

4 .5

1 2 8 .0 7

- 6 .0

8 .8

9 .2

9 .4

9 .6

9 .6

9 .6

9 .3

8 .5

7 .2

5 .7

7 .0

8 .7

9 .0

9 .2

9 .3

9 .3

9 .3

8 *9

8 .2

7 .1

6 .2

7 .0

7 .1

6 .3

8 .5

8 .6

8 .7

8 .6

8 .5

8 .1

7 .4

6 .3

5 .4

5 .7

5 .1

8 .2

8 .3

8 .4

8 .3

8 .1

7 .7

7 .0

6 .1

5 .4

5 .6

5 .1

4 .2

5 .2

7 .9

8 .0

8 .0

7 .9

7 .7

7 .3

6 .7

5 .9

5 .2

5 .3

4 .9

4 .2

4 .8

7 .9

7 .9

7 .8

7 .6

7 .2

6 .7

5 .9

5 .3

5 .5

5 .2

4 .7

5 .3

5 .3

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

1-73

IN IT IA L
P-

1 2 1 .6 0
i o ^ i 'Sss_

^ .3 %

1 3 0 .2 7
1 31 .2 9
1 32 .9 6
1 34 .4 0
6 .2 \

1 3 6 .44P

3-76

QUARTER

P R E L IM IN A R Y




PREPARED BY FEDERAL RESERVE BANK OF S T *
JANUARY 16* 1977

14

LO U IS

P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S IN C U R R E N T O O L L A R S
____________ C O M P O U N D £0 A N N U A L R A T E S Q F C H A N G E
________
T ER M IN A L______________________ __________________________________________________I N I T I A L

B I L L I O N S Of

QUARTER_________________________________ _______________ ______________________DOLLARS

QUARTER

ANNUAL RATES

J j -7.2
2rZ2_..

_9 *.6

4-72

1-73

2-73

3-73

4-73

1 1 .1

3 -7 2.

3-72

2 -7 2

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

3-76

2-76

7 2 4 .7
e .5

7 3 9 .7

4-22_

1 0 .7

1 0 *?

12*5

1-73

JL U 5 .

1 1 *7

U .3

14*0

2-73

1 0 .6

_1C>.5

1 1 .2

1 0 .6

1 0 .2

7 6 1 .8
7 8 7 .2
8 0 1 .0

7 .2

3-73

1 0 .3

1 0 .6

1 0 .0

8 .0

8 .9

4-73

9 ,9

9*7 - 1 0 .0

9*4

7 .8

8*2

7 .5

l- ? 4

9 .9

9 .6

9 .5

8 .4

8 .8

8 .8

1 0 .0

8 1 8 .2
8 3 3 .1
8 5 3 .3

1 0.1

2 - J4

10*2

10*1

10*3

10*0

9 .2

9 *7

1 0 .0

11.2

12*4

3-74

_10^5.

.10 ,5

10*7

1 0 .5

9 .9

10*4

1 0 .8

12*0

12*9

1 3 .4

9 .7

9 .4

8 .7

9*0

9*0

9*4

9 .1

7 .5

1 .9

9 .7

9 .4

8 .9

9 .1

9 .2

9 .5

9 .4

8 .4

5 .9

10.1

4-74

9 .7

9 .6

1-75

_ 9 .e

9 .6

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

2-75

9 .9

9*6

1 0 .0

9 .7

9 .2

9 .5

9 .6

9 .9

9 .9

9*3

7 .9

1 1.1

12*1

3-JT5

1 0 .1

1 0 .0

1 0 .1

9. V

9 .5

9 .7

9 .8

1 0.2

1 0 .2

9 .8

8 .9

1 1.3

1 1 .9

1 1 .7

4-75

1 0 .1

1 0.0

1 0 .1

9 .9

9 .6

9 .8

9 .9

1 0.2

1 0 .2

9 .9

9 .2

11.1

1 1 .4

1 1.1

1 0 .4

9 6 0 .3
9 8 7 .3
1 * 0 1 2 .0

1-76

1 0 .3

1 0 .2

1 0 .3

1 0 .2

9 .9

1 0.1

1 0.2

1 0 .5

1 0.6

1 0 .3

9 .8

1 1 .5

1 1 .8

1 1 .7

1 1 .7

1 3 .1

2-76

1 0 .2

10.1

1 0 .2

1 0 .0

9 .7

1 0 .0

1 0.0

1 0 .3

1 0 .3

1 0.1

9 .6

1 0 .9

1 1.1

1 0 .9

1 0 .6

1 0 .7

6 .3

3-76

1 0.1

1 0 .0

1 0 .1

1 0 .0

9 .7

9 .9

1 0 .0

1 0 .2

1 0 .2

1 0 .0

9 .6

1 0 .7

1 0 .8

1 0 .5

1 0 .3

1 0 .2

8 .8

9 .2

4-70

lft.2

_ I0 « 1

1 0 .2

1 0.1

9 .8

10*0

10.1

10*3

10*3

10*1

9 .7

1 0 .7

10*8

10*6

1 0 .4

1 0 .4

9 .6

1 0 .2

1 1 .1

3-72

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3 -7 5

4-75

1-76

2-76

3-76

1-72

2-72

1 * 0 4 3 .6
1 .0 6 4 .7
1 * 0 8 6 .5
1»117a5P

INITIAL QUARTER

P - P R E L IM IN A R Y

PERSONAL CONSUMPTION E X PEN D IT U R ES IN CONSTANT 1972 DOLLARS
_______________COMPOUNDED ANNUAL RATES OF C H A NG E____________________
B I L L I O N S OF
IN IT IA L

TERM INAL
QUARTER

QUARTER

.

.

ANNUAL RATES
1-72

2-72

3-72

4-72

2-72

6 .8
7 .4

6 .9

7 .6

7 .3

8 .4

5 .9

5 .3

5 .3

3*8

1-74

2-74

3-74

8 .2

2-73

4-73

8 .6

1-73

3-73

5 .3

4-72

2-73

4-74

1-75

2-75

3-75

4-75

1-76

2-76

8 .3

3-72

1-73

3 -7 6
_______

J2 £ _ ^ _

7 3 7 .5
752 *8
7 6 7 .7
-0*5

7 6 6 .8
7 7 0 .4

3-73

5 .2

4 .6

4 .5

3. 1

0 .7

1 .9

4-73

4 .1

3 .4

3*1

1*7

— *3
0

-0*2

- 2 *3

1-74

3 .3

2 *6

2 *2

1 .0

- 0 .8

- 0 .9

- 2 .2

7 65 *9
- 2 .1

7 6 1 .8
7 6 1 .9

2-74

2 .9

2 .3

1 .9

0*8

- 0 *6

- 0 .6

- 1 .5

- 1 .0

0 .1

3-74

2 .8

2 .2

1 .8

0 .9

- 0 .3

- 0 .2

- 0 *7

- 0 .2

0*8

1*5

4-74

1 .7

1 .1

0 .6

- 0 .3

*-1*5

- 1 .6

- 2 .3

- 2 .3

- 2 *4

- 3 .6

- 6 *4

1-75

1 .9

1 .3

0 .9

0 .1

- 0 .9

- 0 .9

- 1 .4

- 1 .2

- 0 .9

- 1 .3

- 2 .6

7 6 4 .7
7 4 6 .1
7 5 4 .6

3 .5

2-75

2 .3

1 .8

1 .5

0 .8

- 0 .0

0 .0

- 0 .2

0 .1

0 .6

0 .7

0 .5

5 .3

7*0

3-75

2 .4

2 .0

1 .7

1 .1

0 .4

0 .5

0 .3

0 .7

1 .2

1 .4

1 .4

4 .9

5*6

4 .1

4-75

2 .5

2 .1

1.9

1 .4

O.fi

0 .9

0 .8

1 .2

1 .6

1 .9

2 .0

4 .8

5 .2

4 .3

4 .5

7 6 7 .5
7 7 5 .3
7 8 3 .9

1-76

2 .9

2 .6

2 .4

1 .9

1 .4

1 .6

1 .6

2 .0

2 .5

2 .9

3 .1

5 .6

6 .1

5 .8

6 .7

8 .9

2-76

3 .0

2 .7

2 .5

2 .1

1 .6

1 .8

1 .8

2 .2

2 .7

3 .0

3*2

5*3

5*7

5 .4

5 .8

6 .4

4 .0

3-76

3 .0

2 .7

2 .6

2 .2

1 .7

1 .9

1 .9

2 .3

2 .8

3 .1

3 .3

5 .1

5 .3

5 .0

5 .2

5 .4

3 .8

3 .6

3 *2

5 .1

5 .3

5 .4

4 .3

4 .5

5 .5

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

2 .9

1-72

2-72

2 .7

(M
ri

3 .1

2 .4

2 .0

2 .2

2 .2

2 .6

3 .0

3 .3

3 .5

5 .1

4-72

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

8 0 0 .7
8 0 8 .6
8 1 5 .7
8 2 6 .6P

I N I T I A L QUARTER
P - P R E L IM IN A R Y




PREPARED BY FEDERAL RESE R V E BANK OF ST.
J A N U A R Y 18* 1977

15

LOUIS

GROSS P R IV A T E DOMESTIC IN VE S TM EN T IN CURRENT D Ot LAR S
_____________ COMPOUNDED ANNUAL RATES OF CHANGE_______________

B I L L I O N S OF
T J l H I N A L ________________ _______ ________________________________________________ I N I T I A L
&

QUARTER ________________________________________ _____________________________ DOLLARS

QUARTER

ANNUAL RATES
1- 7 2

2-72

3-7 2

4-72

1-73

2-73_

3 -7 3

4-73

1- 7 4

2-74

3-74

4-74

1- 7 ?. _ 2 - 7 5

3-75

4-75

1- 7 6

2 -7 6

3-76

_2-72

19 ,9

.3-72

16-8

13.9

184*9
19 1. 0

4 -7 2

1 8 -4

17 .6 . 2 1 . 4

2 0 0. 5

1-7 3

19.2

18.9

21,JL>

21.7

2-73

18 .3

1 7 .9

19 .3

16*2

14.8

3-73

1 5 .7

14.9

15.2

13 .2

9.1

210.6
2 1Ê.0
3.7

220.0

> -7 3

16 .7

16 .2

16.6

15*5

13*4

12*8

22*6

_l-7 4

10 .7

9 .4

8.7

6.3

2.8

-1 .0

- 3 * 2 - 23 *6

10 .0

8.6

_6*1

6*0

3*1

0*4

-0* 7 -10*7

4*5

3-7 4

7.8

6*6

5*7

3.6

0*9

-1 * 7

- 3 * 0 - 1 0 *3

_“ 2*8.

-9* 7

4-7 4

6.8

5.5

4*6

2.7

0*2

-2 * 0

-3*1

-3*0

-6*6

1 -7 5

0. 8

-2 .5

—4 . 0

—6 . 5

-9 .5

-3 .8

-5 .3

-7 .6

2-7 5

-2 .2

r>
I
m

3 .1

1.9

1.0

4 -7 5

3.6

2.5

1.6

G. 1

-€ .7

231.5

- 8 *6

-1 2 .5 -1 5 .0 -2 1 .0

-1 0 .4 -13 .2

216.4
2 1 8 .6
2 1 3 .3
2 1 1 .5

-3*3

-2 0 .3 -2 7 .2 -3 4 .7 -5 5 .9

172.4

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

-2 .7

-4 .5

-5 .4

-8 .9

-6 .2

- 1 .6

-3 .1

-3 .8

-6 .7

-4 .0

164.4

-8 .2

-7 .8

-9 .2

3 0 .2

10 4. 9

-5 .4

—4 . 5

-4 .8

23.0

50 .1

196.7
9.9

201.4

1 -7 6

6 .8

5.9

5.4

4 .3

2.9

1. 9

1. 7

-0 .4

3 .0

2.8

5.0

6.8

33.2

56.1

3 6 .2

66 .9

2-7 6

7.4

6.6

6 .2

5 .2

4.0

3 .1

3.1

1 .3

4 .6

4.6

6.8

8*6

30.0

45.5

29*6

41*1

17*6

3 -76

7.7

7. 1

6.6

5.7

4.7

3.9

3.9

2.4

5.4

5.5

7.6

9.3

27.1

38.5

25 .6

31.3

15.7

1 3 .7

4-7 6

7*5

6.8

6*4

5.6

4*6

3 .9

3.9

2*5

5.2

5*3

7.1

8.5

23.4

31 „9

20 .8

23.6

1 1 .4

6.4

3 .3

1-7 2

2-72

3-72

4-72

1-73

2-73

3 -7 3

4-73

1-74

2-74

3-7 4

4-7 4

1—75

2 -7 5

3-75

4-75

1 -7 6

2-76

3-76

2-76

BIL L IO N S OF
DOLLARS
ANNUAL RATES
3-76

229.6
239*2
247.0
2 4 9 . OP

I N I T I A L QUARTER
P - PRELIMINARY

GROSS PRIVATE DOMESTIC INVESTMENT IN CONSTANT 1972 DOLLARS
________________COMPOUNQEO ANNUAL RATES OF CHANGE_________________
I N I T I A L QUARTER

TERMINAL
QUARTER
1-72

2-72

3-7 2

2-7 2

1 2 .8

4-72

14.0

12.6

1-73

2-73

3-73

4 -7 3

1-7 4

2-7 4

3-7 4

16.5

4-7 4

1- 7 5

2-75

3-7 5

4-75

1- 7 6

16*6

3-7 2

4-72

186*2
8.9

190*2
197*6

14 .2

15.7

14.9

2-73

12.5

11.4

12.2

10 .2

5.6

3-73

9.4

8 .0

7 .7

5.0

0 .3

-A .7

4-73

10.1

9 .0

9 .0

7.2

4 .7

4.3

1 -7 4

4*3

2*6

1.6

-l.l

-4 .8

-8 .0

2-74

2.2

0*5

-0 .7

-3 .3

-6*6

-9 .4 -1 0 .9 -2 1 .3 -13 .4

3 -7 4.

-0 .7

-2 * 4

-3 .8

—6* 3

-9 .5

4-74

-2 .1

-3 .6

-5 .1

-7*5 -1 0 .3

1
-I

1-7 3

13.4

2 -7 5

20 4 . 6

•10.3 - 1 2 . 4 - 1 4 . 3 - 1 7 . 2 - 2 0 . 5
--10.2 - 1 2 .2

- 1 3 . 9 —1 6 . 4 - 1 9 . 3

2 0 7 .4
2 0 4 .9
21 1 .8

14.2
-9 .6 -2 8 .4

19 4. 8
18 7 .9

-1 4 .0 -2 1 .8 -1 8 .2 -2 2 .7

176.2

- 1 2 . 7 - 1 4 . 2 -20 *2 - 1 7 . 2 -1 9 * 0 - 1 5 . 2

169.1

-1 2 .2

12 9. 3

-2 3 .7 -2 6 .4 -3 2 .6 -33 .6 -3 9 .2

-4 6 .2 -6 5 .8

-2 2 .0 -24 .2

-2 9 .3 -3 2 .8

-3 5 .9 -4 4 .3

-9 .3

-1 3 .7 -14 .8 -1 8 .3 -16.5 -17 .1

-1 5 .6 -1 5 .8

3 2 .3

92*8

-29.2

12 6.2

-5l.2

- 6 .7

4—75

-5 .1

-6 .5

-7 .6

- 9 . 4 -1 1 .3 -1 2 .9 -1 3 .7 -1 6 .7 -1 ^ .9 -15 .1

1 8 .7

35.7

-4 .5

1-7 6

-1 .7

-2 ^0

- 3 .6

-5 .0

-6 .5

-7 .6

-7 .8

-1 0 .0

-7 .4

-6 .5

-3 .5

-0 .9

29.2

45 .4

26.3

67*0

2-76

-l.Q _

- 2 .0

-2 .7

-3 .9

-5 .3

-6 .1

-6 .2

-8 .1

-5 .5

-4 .4

-1 .5

1.0

25.5

36 .1

21.1

3 6 .4

11*5

3-76

—0 . 5

-1 .4

-2 .0

-3 .2

-4*3

-5 .1

-5 . 1

—6 . 7

-4 .2

-3 .1

-0 .3

2.0

22.4

3 0 .0

1 7 .8

26.4

9.9

8*4

4— 76

-0 .6

-1 .5

- 2 .1

-3 * 2

-4*3

-4 .9

-5 .0

-6 .4

—4* 1

—3* I

—£*J>

1.4

18*4

23.7

13*2

18*2

5*3

2*3

-3*4

1-72

2-72

3-7 2

4-72

1- 7 3

2 -7 3

3-73

4-73

1-7 4

2-7 4

3-7 4

4-7 4

1-75

2-7 5

3-75

4-75

1-7 6

2-76

3-7 6

3 -7 5

-7 .9

—9 . 8 - 1 2 . 0

-1 3 .5 -1 3 . 1

14 8 .7
147.0
167.1
171*7
175*2
173.7P

I N I T I A L QUARTER
P - PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF S T .
JANUARY 18* 1977

16

LO U IS

GOVERNMENT PURCHASES OF GOODS AND S ER VI CE S

IN CURRENT DOLLARS

B I L L I O N S OF
DOLLARS
ANNUAL RATES

I N I T I A L QUARTER

TEi Wl N AL
QUARTER
2 -7 2

1-7 2

3-72

4 -7 2

z-iz
3-7 2

_3*2
5.5

6.6

6,7

7,9

10.4

5,6

6.4

4.6

4-7 3

1 -7 4

2-7 4

3-74

4-74

1-75

2 -7 5

3-7 5

4-75

1- 7 6

2-76

3-76

10.6

5,1

3-73

1 0 .2

1=73

2-73

3 .1

.4=72

1- 7 3

3*4

.¿=73 ..

2 5 1 .1
253.0
259.2
26 5 . 8
265*1

-1 .0

3 -7 3

5,4

5,8

6,4

5.2

2,7

6.5

4=73.

6,5

7,0

7 .8

7. 2

6 .1

9.8

13,2

269,3

1=74

7 15

e .* l

9.0

8.8

8.4

11 .7

14 .4

15.5

277, £
288.0

2-7 4

6,3

e,9

9 .6

9.7

9.6

12.4

14. 5

15.1

14 .6

3 -7 4

9,0

9,6

10.4

10.5

10 .5

1 2 .9

14. 6

15.0

14.8

15.0

4-74

9.4

10,0

io .e

10.9

10 .9

13 ,0

14 .4

14 .7

1 4 .4

14.2

13 .5

1-7 5

9.4

9.9

10.6

10 .7

1 0 .7

12,5

13.5

13.5

13.1

12 .5

11 .3

2 9 8 ,0
308.6
318,5
32 5 .6

9.2

2- 7 5

9 ,4

9.9

10,5

10 .6

10.6

12,1

1 2 .9

12. 9

12.4

11.8

10.8

9.4

9 .7

3-75

9.6

10 .1

10 .7

10 .7

10 ,8

1 2 .2

12 .9

12.8

12.4

1 2 .0

11 .2

10.5

11.1

12 .6

4-75

9.6

10 .3

10.9

10 .9

11.0

12 .2

1 2 .9

12 .9

1 2 .5

12.1

11 .6

11.1

11 .7

1 2 .7

33 3 . 2
3 4 3 ,2
35 3. 8

12 .9

3 5 4 .7

1-7 6

9.2

9.6

10.1

10 .1

10,1

11 .2

11 .6

11.5

1 1 .0

10 .5

9.7

9.0

8.9

8.7

6 .8

1 .0

2-76

9.2

9.6

10.0

10 .0

10.0

10.9

11.4

11.2

10.7

10 .2

9.5

8.9

8.8

8.6

7 *4

4 .7

8*5

3-76

9 .2

9-5

9 .9

9.9

9.9

10 .8

11.1

10.9

10 .5

10 .0

9.4

8.9

8.8

8.6

7.7

6 .0

8.6

8 .7

4-76

9.1

9 .4

9 .8

9.8

9.8

10.6

10 .9

10 .7

10.3

9.8

9.3

8 .8

8.7

8.5

7 .8

6.5

8.4

8.3

8 .0

1-72

2- 7 2

3 -7 2

4 -7 2

1-7 3

2-73

3 -7 3

4-73

1 -7 4

2-74

3 -7 4

4-74

1-75

2-75

3 -7 5

4-75

1-76

2-7 6

3-7 6

362,0
369.6
376 «_8P _

I N I T I A L QUARTER
P-

PRELIMINARY

GOVERNMENT PURCHASES OF GOODS AND SERVICES IN CONSTANT 1972 DOLLARS
______________________ COMPOUNDED ANNUAL RATES OF CHANGE_________________________
B I L L IO N S OF
DOLLARS

13 i l l A _ L Q U A R T E R ,

QUARTER
__________ 1- 7 2

2-72

3-7 2

4-72

1 -7 2

¿-73

3 -7 3

4-73

ANNUAL RATES
1 -7 4
2-74 3-74

4-74

1- 7 5

2-75

3-75

4 - 7 5 ___l~7ò___2=7 6 _ 3 - 76_________________

2=72____ =1*4
3-72

- 1 *6 ___= 1 .2

1-73

2 5 2 «P

-Q t ft

4=72_
_0 *4

_2~73___ -t>*9

-i*a

1+1

2*6

¿5 3 * 2

3,2

-Q *8__ -Q*4__ r lt6

-

3 -7 3

—0 . 6

-0 .4

-0 .1

-0 .7

-2 .6

1 .0

4-73

-0 .5

-0 .3

0.0

-0 .5

-1 .7

0.6

0.3

1 -7 4

0,3

0.5

0.9

0.7

0.1

2.2

2.9

_^5U 2_

6*1

251,8
252,0
255,4

5.5

2 5 6 ,1

2 -7 4

0 ,3

0.6

0 .9

0 .8

0.3

2 .0

2.3

3.3

1,1

3 -7 4

0,5

0,7

1*0

0.9

0*5

1.9

2 .1

2 .7

1 .3

1, 6

4-74

0.4

0.6

0*9

0*7

0.4

1 .5

1 ,6

1,9

0,8

0*6

-0 ,3

25 7, 1
256,9

1-7 5

0 .4

0.6

0 .8

0.7

0 .4

1.3

1.4

1 .6

0.7

0 .5

0.0

0.3

2 -7 5 .

0.6

0.8

1 .0

0.9

0.7

1.6

1.6

1 .9

1.2

1.2

1.0

1. 7

3.1

3 -7 5

0 .9

1.1

1.4

1.3

1.1

2.0

2 .Ì

2.3

1.8

2.0

2.1

2.9

4,2

5.2

4-75

1.1

1 .3

1 .6

1 .6

1.4

2.2

2.3

2.6

2.2

2.4

2.5

3.2

4,2

4 .8

4 .3

257.1
259*1
262,4
2 6 5 ,2

1- 76

0.8

0.9

1.1

1 .0

0 .9

1 .5

1 .6

1.7

1 .3

1.3

1.2

1. 6

1 .9

1.4

—0 . 4

-4 .9

2-76

0.9

1.0

1 .2

1.2

1 .0

1.6

1.7

1 .8

1 .4

1 ,5

1.4

1, 7

2,0

1,7

0,6

-1 .2

2,6

3 -7 6

1.0

1.1

1 .3

1.3

1.1

1.7

1.8

1.9

1.6

1. 6

1. 6

1.9

2.2

2.0

1 .2

0.2

2 .8

2.9

4-76

1.0

1.1

1.3

1.2

1. 1

1.6

1 .7

1,8

1 .5

1, 5

1 .5

1, 7

1*9

1.7

1*0

0,2

2*0

1*7

0.5

1-7 2

2-72

3-72

4 -7 2

1- 7 3

2-7 3

3-73

4-73

1 -7 4

2-74

3-74

4-74

1-7 5

2-75

3-75

4-7 5

1 -7 6

2-76

3-7 6

2 61 *_9
_ ¿ 6 3 , 6 ...
265.5
¿ 6 5 , 8P

I N I T I A L QUARTER
P-

P R E LI M IN A R Y




PREPARED BY FEDERAL
JANUARY 18* 1977

17

RESERVE BANK OF S T .

L O U IS

.

D IS P O S A B L E PERSONAL INCOME IN CURRENT DOLLARS
COMPOUNDED ANNUAL _RA L£Si_Q£_ CHANGE__________

B I L L IO N S OF
DOLLARS
ANNUAL RATES

I N I T I A L QUARTER

TEKMINAL
QUARTER
1~72

2-72 _ 3-72

4-72

1-73

2-73

3-73

2*7 2

8 .2

1 0 .1

4 =7 2

_ L £ .e

13.1

1 1 .8

13.7

15.5

1 1 .6

13.2

14.2

13.3

11.4

12.5

13.0

1 2 .0

10,6

1 1 .5

1 2 .4

1 2 .8

1 2 .0

1 1 ,1

io , e

1=76

2-76

3-76

1 2 ,1

e ,7

W 5 ..

9,5

4-73

3 =15

11.7

_ 2 = 73

.1-22.. 2 = I 5 _

14.9

2-73

2- 2. 4 _ ä = I 4 _ . 4 =7 4

16.« 2

1-73

1-74

J> .3

¿ “ 72

4-73

787.0
.

8 06.2
8 3 7 .0

866.6
890.9
9 1 1 .4
9 3 7 .7

.1=74

1 0 .6

1 1 .2

1 1 ,4

1 0 ,5

9.4

8 .3

4 ,6

2-74

1 0 .5

1 1 .0

1 1 ,1

1 0 .3

9 .4

8 .8

8 ,6

6 ,9

9 ,2

¿= 7 4

1 0 .6

n a

1 1 .3

1 0 .6

9 .9

9 .5

9 .5

8 .7

1 0 .7

1 2 .3

10.2

9.5

9 .1

9 .1

8 .3

9. 6

9.8

7.3

946 .4
9 6 9 .5
9 9 8 .0

_A=74

1 0 .3

1 0 .7

1 0 .8

1 -7 5

9.7

10.0

1 0 .0

9.4

6.7

8.3

8,1

7 .3

8 ,0

7.5

5.2

3.2

2=75

1 1 .0

11.4

11.5

11.1

1 0 .6

10 .5

10 .7

10 .4

11.6

12 .2

12 .2

14 .8

2 7 .6

3 -7 5

10.3

10.6

10.6

10.1

9.7

9.4

9 .4

9 .1

9.8

9.9

9.4

10.1

1 3 .7

4-75

1 0 .3

10 . 6

10 . 6

10 .2

9.8

9 .6

9.6

9.3

10 .0

1 0 .1

9.7

10 .2

1 2 .7

5.9

1 0 .8

1 -7 6

10.3

1 0 .6

10 .6

10 .2

9.8

9.6

9.7

9.4

10.0

10 .1

9.8

1 0 .3

12 .1

7.3

10.5

10 .3

2-76

1 0 .2

10 .5

10.5

10 .1

9.7

9 .6

9.6

9.4

9.9

1 0 .0

9 .6

10.0

1 1 .5

7.7

10.0

9.6

3 -7 6

1 0 .0

10 .2

1 0 .2

9.8

9.5

9 .3

9.3

9 .1

9.5

9 .5

9.2

9.5

1 0 .6

7 .4

9 .0

4-76

J.CL.0

1 0 .2

10.2

9. Q

9.5

9.3

9.3

9.1

9.5

9.5

9.2

9.5

10.4

7.7

9.1

1-72

2-72

3-72

1 -7 3

2-73

3 -7 3

4—73

1 -7 4

2-74

3-7 4

4-7 4

1-7 5

2 -7 5

3-75

4-75

4-72

1.015.8
1.023.8
1.0 88.2
1 .091.5

1 .2

1.1 1 9 .9
1.147.6
9.0

1.1 7 2 .5

8.5

7.6

6.2

1.190.2

8.7

6,1

7 .7

9*3

1-7 6

2-76

3-7 6

1 .2 1 6 . 9 P

I N I T I A L QUARTER
P - P R E L IM IN A R Y

DISPOSABLE PERSONAL INCOME IN CONSTANT 1972 DOLLARS
__________ COMPOUNDED ANNUAL RATES OF CHANGE___________
B I L L IO N S Of
DOLLARS
ANNUAL RATES

I N I T I A L QUARTER

TERMINAL
QUARTER
1-72
2 -7 2

2 -7 2

3-7 2

4-72

1-73

2-73

3 -7 3

4—73

1-7 4

3_*6

2-74

3-74

4-74

1-7 5

2-75

3-75

4-75

1-7 6

2-76

3-7 6

790.7

3- 7 2

5.2

6 .7

4-72

7 .5

-9*4

12.2

1 -7 3

1*3

9.3

10,6

9,0

2-7 3

7*0

7.8

8 .2

6.3

803.7
8 2 7 .1
8 4 5 .1
3.6

852.7

3-73

6 .2

6.8

6 .8

5.0

3.1

2.6

4-7 3

£♦6.

5 .9

_ 5,8

4,2

2.7

2.2

1.8

1-74

3,9

4 .0

3 .5

1.9

0.2

-0 .9

-2 .7

858.2
86 2. 1
-7 .0

846.7

2-7 4

3*2 _

3.1

2*6

1. 1

-0 .4

-1 .4

-2 .7

-4 .9

-2 ,9

3-74

2.9

2*8

2.3

1.0

-0 .3

-1 .0

-1 .9

-3 .1

-1 .2

0.5

4-74

2 .3

2*2

1.7

0.4

-0 .8

-1 .5

-2 .3

-3 .3

-2 ,0

-1 .6

-3 .6

1-7 5

1 .8

1.7

1.2

0.0

-1 .0

-1 .7

-2 .4

-3 .2

-2 .2

-2 .0

-3 .3

-2 .9

2-75

_3*3

3.2

2 .9

2.0

1.3

1 .0

0.8

0.6

2.2

3.5

4.5

8.7

21.8

2 .5

2 .2

1. 3

0.6

0.2

-0 . 1

—0 . 3

0.8

1.6

1 .8

3.7

7.2

-5 .7

2.7

2.4

1.6

1.0

0.7

0.5

0.3

1.4

2.1

2.4

4.0

6.4

-0 .5

4 .9

_.

3-75
4-75

2 .7

84 0,6
841.7
83 4 .0
8 2 7 .9
8 6 9 .7
8 57.1
8t>7 . 5

1-7 6

3.0

2.9

2 .6

1.9

1 .4

1.2

1.0

0.9

2.0

2.7

3.0

4 .4

6.3

1.6

5 .5

6. 1

2-76

3.1

3.0

2 .8

2.1

1 .6

1.5

1. 4

1.3

2.3

2.9

3.3

4.5

6.0

2 .4

5.2

5.4

4.7

3 -7 6

2.9

2 .9

2 .6

2.0

1.6

1.4

1.3

1. 2

2.1

2.7

2.9

3.9

5.1

2.0

4.1

3.8

2.7

0 .7

4-76

3.0

2.9

2.7

2.1

1.7

1. 6

1.5

1.5

2. 3

2.8

3.0

3.9

4.9

2.3

4 .0

3.8

3.0

2.2

3 .7

1-7 2

2-72

3-72

4-72

1-73

2-73

3- 7 3

4 -7 3

1-74

2 -7 4

3-74

4-74

1-75

2-75

3-75

4 -7 5

1-7 6

2 -7 6

3-76

8 8 0 .4
89 0 . 5
8 9 2 .0
9 0 0 . 2P

I N I T I A L QUARTER
P - PRELIMINARY




PREPA RED BY FED ERA L R ESE R V E
JANUARY 1 8 * 1977

18

BANK OF S T .

L O U IS

CORPORATE

PRÜF IT S

AFTER

COMPOUNDED ANNUAL k A ltS
TERMINAL
GUARTfck

IN ITIA L
4-71

1-72 T - 7

Ï

''T-72

-♦-72

1-73

2 -7 3 '

3-73

4-73

1- 7 4

TAXES

*

üf - c h a n g e

B IL L IO N S OF
DOLLARS
annual ra te s

quarter

¿ -74

3-74

4-74

Y^7S

2-75 " 3-73

4-75

1-76- - ' 2 - 1 6

1 -7 2

23.4

2 -7 2

16.2

13 .2

3 -7 2

19.6

17 .7

22 .3

4 -7 2

25 .6

2 6 .3

33.4

45.4

1 -7 3

29.6

31 .2

37. c

4 6 .2

46.9

2 -7 3

25. 6

26.3

2 9. b

3 2 .4

26.4

8.7

3 -7 3

19.2

18.5

19.6

18 .9

11.2

-3 .3

-1 3 .9

4 -7 3

19 .3

18 .6

1 9 .7

1 9 .2

1 3 .4

4 .0

1.8

20 .4

1 -7 4

2 2 .4

22.3

23 .6

¿ 3.6

19 .9

14 .0

15.6

34.3

2 -7 4

lb . 4

17 .6

16.4

17 .6

13 .6

6.1

8 .0

16.4

14 .5 - 1 2 . 6

3 -7 4

20.9

2 0 .6

2 1.5

2 1 .4

18 .3

14.1

15.2

2 3 .9

25.0

14.2

49 .1

8 1 .0

4 -7 4

13 .6

1 2 .6

12 . 6

11 .7

6.1

3 .5

2.6

6.3

3 .1

-9 .0

- 7 . 2 —4 2 . 3

7 0 .6

1-75

3.6

2.1

1 .2

-0 .7

-4 .9

-9 ,9

e>c.7
52 . 3
bb.G

■
60 .4
6 6 .5

67.9
65 .4
68.5
7 5 .t

4V.9

73.3

- 1 2 . 3 - 1 2 . 0 —1 7 .3 — b .b —3 3. 5 - 5 5 . 6
2

2—75

7.0

5 .9

5 .^

3. b

0.4

-3 .6

—5.2

-J>.9

-7 .4

3 -7 5

11 . 4

10 .6

1 0 .4

9.4

6.7

^>.3

2.7

5 .0

3.0

4-75

11 . 4

10 .6

1 0 .5

9.6

7 .1

4.0

3 .6

5 .7

1 -7 6

12 . 6

12 .0

1 1 .9

11 .2

b .9

6.2

6.0

6.2

2-76

12. 6

12.2

12.1

11 .5

9 .4

6.9

6.6

3—76

12 .b

12.2

12.1

11. 5

9 .6

7.3

^-71

1 -7 2

2 -7 2

3-72

4 -7 2

1-73

5 4 .0

- 6 5 .8

-1 6 . 0 -1 6 .6 - 3 1 . 5 -2 5.3

62 . 6

6 1 .0

78.3

95 .2

72 .1

5.0

52.5

47 .6

1 1. 6

74 . 1

-1 .1

10.2

47.6

42 .8

22.2

33.8

6.2

1.2

11.1

4 0 .6

35 .6

2 0. 1

24 .6

15.9

4.7

6.9

2.5

11 .3

3574

30.5

18.0

2 0 .3

1 4 .0

12.1

1-7 4

2-74

3-7 4

4-74

1-75

2-7 5

3 -7 5

4-75

1 -7 6

2 -7 6

-3 .3

-1 .3 -1 1 .0

2.8

H .o

-1 .3

0.7

-6 .9

7.0

2 .5

4.9

6.9

7.6

3.9

7.2

9.2

6 .2

2-73

3 -7 3

4-7 3

7 9 .7
b2.7

4-76

65 .1
N.A.

I N I T I A L QUARTER
* NATIONAL INCOME BASIS
N.A. » Not available
PREPARED BY
DECEM bER

¿ u ,

federal

RESERVE BANK OF S T .

1976

SOURCES OF DATA

N A T IONAL INCOME A N D PRODUCT ACCOUNTS D A T A

Source:

1929-45:
1945-72:
1973-76:

U. S. Department of Commerce, Bureau of E c o nomic
Analysis, Washington, D.C.
20230

Annual data wil l be published at a later date.
Survey of Current B u s i n e s s , Parts I and II, J a n u a r y 1976.
Survey of Current B u s i n e s s , July 1976.

The survey is ava i lable from most dist r i c t o f f i c e s of
the Department of Commerce or from the Supe r i n t e n d e n t of
Documents, U. S. G o vernment Printing Office, W ashington, D.C.
20402.




19

LOUIS

I N V E N T O R I E S COMPARED WI T H MONTHLY
M A N U F A C T U R I N G AND T R A D E

SALES*
.76

.72

. 68

.64

.60

.56

.52

. 48

. 44

. 40
1963

1964

1965

1966

1967

«RATIOS

BASE D

ON S E A S O N A L L Y

SHADED

AREAS

REPRESENT

A DJ US T E D

PERIODS

L A T E S T DATA P L O T T E D : NOVEMBER
_
* # D A T A R E V I S E D FROM 1958




1968

1969

1970

197

972

SOURCE ;

DATA.

OF B U S I N E S S

1973

1974

1975

U.S.DEPARTMENT

1976
OF

1977

COMMERCE

RECESSIONS.

PRELIMINARY
P RE P A R E D

20

BY

FEDERAL

RESERVE

BANK

OF S T .

LOUIS

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