Full text of National Economic Trends : January 1981
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
n h t ionn l economic t r c i i d s P R E P A R E D Month E n d in g : B Y Decem ber 3 1 , F E D E R A L 1980 R E S E R V E B A N K O F ST. R e le a s e d : L O U I S Ja n u a r y 30, 1981 R ^ a l GNP r o s e a t a 3.1 p e r c e n t a v e r a g e a n n u a l r a t e fro m 1969 t o 1979, a c c o r d in g t o r e c e n t r e v i s i o n s r e l e a s e d b y t h e D e p a rtm e n t o f Commerce.The p e rfo rm a n c e o f t h e U . S . econom y in t h is d e ca d e was s t r o n ^ F ' t h a n t h e 2 .9 p e r c e n t f i r s t e s t im a t e d , b u t s t i l l l e s s th a n th e 4 .2 p e r c e n t a v e r a g e r a t e o f g ro w th in t h e 19 60 s. The r e v i s i o n s r e f l e c t t h e u se o f new s t a t i s t i c a l s o u r c e s as w e l l as im p ro ve d c o n c e p t u a l and e s t im a t io n p r o c e d u r e s . One o f t h e m ore im p o r ta n t c o n c e p tu a l ch an g e s a ffe c tin g GNP e s t im a t e s was e x p a n s io n o f t h e s c o p e o f e x p o r t s and im p o r ts t o in c lu d e r e i n v e s t e d e a r n in g s o f in c o r p o r a t e d a f f i l i a t e s of d ir e c t in v e s t o r s . P r i o r t o t h e r e v i s i o n o n l y r e p a t r i a t e d e a r n in g s w ere i n c o r p o r a t e d i n t o GNP e s t im a t e s . D a ta r e v i s i o n s a ls o i n d i c a t e t h a t t h e r e c o v e r y fro m t h e 1980 r e c e s s io n has been s tro n g e r th a n fir s t e s t im a t e d . A fte r d ip p in g s h a r p l y in t h e s eco n d q u a r t e r , r e a l GNP a d va n c e d a t a 3 .7 p e r c e n t r a t e in t h e seco n d h a l f o f 1980. T h is r a p i d g ro w th b ro u g h t o u tp u t to a y e a r - e n d l e v e l o n l y s l i g h t l y b e lo w t h e p r e r e c e s s io n peak in t h e f i r s t q u a rte r. Em ploym ent d e v e lo p m e n ts in 1980 m ir r o r e d th e g ro w th of o u tp u t. T o t a l c i v i l i a n em ploym ent d rop p ed a t a 2 .3 p e r c e n t a n n u a l r a t e fro m J a n u a r y t o J u n e , th e n a d va n ce d a t a 1 .0 p e r c e n t r a t e f o r t h e r e s t o f th e y e a r . T h e se r e c e n t g a in s b ro u g h t t h e l e v e l o f em ploym ent c lo s e t o p r e r e c e s s io n l e v e l s . Unem ploym ent o f t h e c i v i l i a n la b o r f o r c e a t y e a r end, h o w e v e r, was w e ll ab ove t h e 6 .2 p e r c e n t ra te reach ed in J a n u a r y 1980. D e s p it e no g ro w th in o u t p u t and an i n c r e a s e in unem ploym ent o v e r th e p a s t y e a r , th e r i s e in p r i c e s d id n o t s lo w . The i m p l i c i t p r i c e d e f l a t o r f o r GNP in c r e a s e d 9 .9 p e r c e n t fro m f o u r t h q u a r t e r 1979 t o f o u r t h q u a r t e r 1980, e ven f a s t e r th a n t h e 8 .3 p e r c e n t a v e r a g e r a t e o v e r t h e p r e v io u s tw o y e a r s . F o r th e 1970s, t h e d e f l a t o r ro se at a 6 .5 p e r c e n t a v e ra g e r a t e , com pared t o a 2 .5 p e r c e n t r a t e o f in c r e a s e in t h e 1960s. E n erg y d e v e lo p m e n ts c o n t r i b u t e d t o in c r e a s e s in t h e p r i c e le v e l a t v a r io u s t im e s in t h e 19 70 s, b u t t h e p r im a r y c a u s e o f r i s i n g p r ic e s was a 6 .3 p e r c e n t a v e r a g e r a t e o f g ro w th in t h e m oney s u p p ly (M lB d e f i n i t i o n ) fro m 1969 t o 1979. I n c o n t r a s t , M1B grew a t a 3 .7 p e r c e n t a v e r a g e r a t e d u r in g t h e 1 9 60 s. TOTAL CIVILIAN EMPLOYMENT* CQHPÇH J N P E P A N N U A L H A T E S O F Ç H A N Q E 3.1 7-79 4 .3 6-79 7-79 8-79 9-79 • a 5-79 6-79 u O MONTH THOUSANDS OF PERSONS I N I T I AL h q m t h 1 I -JERHINAL 11-79 12-79 1-80 3-80 2-80 4-80 5-80 6-80 8-80 7-8 0 9-80 10-80 11-80 96,838 5.6 97,277 97,048 8-79 1*9 1*3 9-79 2.9 2 .9 1.5 6 .0 10-79 2*1 1*9 0 .6 2 .4 - l.l 11-79 1.9 1*7 0*7 1*9 -0.1 0*8 12-79 2.1 2 .0 1.2 2 .3 1.1 2 .2 3 .5 1-80 1.7 1.5 0.9 1 .6 0 .6 1.1 1 .3 - 0 .9 2-80 1.7 1.5 1.0 1 .6 0 .7 1.2 1.3 0 .2 1.3 -2*8 97,521 97,434 97 »501 97*781 97,708 97,017 97,628 3-80 1.3 1.1 0.5 1 .0 0 .2 0 .5 0 .4 —0 .6 -0.5 -2 .3 4 —80 0 .7 0.5 - O .l 0 .3 -0.5 - 0 .4 -0 .7 - 1 .7 -2 .0 -3 .6 -4.8 5-80 0.5 0 .3 -0.2 0 .1 -0.6 - 0 .6 - 0 .8 —1.6 -1 .8 -2 .8 -3.1 97,225 - 1 .3 97*116 96*780 6-80 0.2 -0 .1 -0 .6 - 0 .3 - 1 .0 - 1 .0 - 1 .3 -2 .0 - 2 .3 -3.1 -3 .4 - 2 .7 -4.1 7-80 0 .4 0.2 -0 .3 - 0 .1 -0 .6 - 0 .6 - 0 .8 -1*4 -1*4 -2 .0 -1.9 - 0 .9 -0 .7 2 .7 8-80 0*3 0*1 -0*3 - 0 .0 -0*6 -0*5 - 0 .7 -1*2 -1*2 -1*7 -1.5 - 0 .7 -0.5 1*4 0*0 9-80 0.5 0*3 - O .l 0 .1 —0*3 - 0 .3 -0*4 —0*8 -0*8 -1.1 -0.9 - O .l 0.2 1 .7 1*1 10-80 0*4 0*3 - O .l O .l -0*3 -0*2 -0*3 -0*7 -0*7 -0 .9 - 0 .7 - 0 .0 0.2 1*3 0 .9 1.3 0 .3 11-80 0 .5 0*4 0*0 0 .2 -0*2 -0*1 -0 .2 - 0 .5 -0.5 - 0 .7 -0 .4 0 .2 0.5 1 .4 1.1 1 ,4 1 .0 1.7 12-80 0.5 0 .3 0.0 0 .2 - 0 .5 -0.5 -0.7 -0.5 O .l 0 .3 1.0 0 .7 0 .9 0 .4 0.5 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 6—80 7-80 8-80 -0.2 -0 .1 - 0 .2 96*999 97,003 97,180 2.2 97.206 97.339 -0*7 97*282 9-80 10-80 11-80 IN IT IA L MONTH »REVISEO FROM 197», PREPAREO BY FE06RAL RESERVE BANK OF S T . LOUIS JANUARY 13. 1901 P A Y R O L L EM PLO YM EN T C O M PO U N D ED A N N U A L R A T E S O F T E R M IN A L M ONTH IN IT IA L 5-79 6 —79 7-79 8-79 V-79 10-79 11-79 12-79 1-80 2-80 CHANGE THOUSANDS OF PERSONS M ONTH 3-80 4-80 5-80 6-80 7-80 8-80 9-80 10-80 11-80 89,909 2.3 90,054 2.0 90,222 90,283 90,441 1. 7 1.9 90,552 1.7 90,678 2.2 91,031 91,186 2.1 1 .1 0.2 0.2 -0.0 -0.2 -0.0 -0.2 -0.4 0.1 -0.1 0.V 0.6 1.0 0.9 ?-7 y fr-7?___7 -7 ? -0.3 0.9 0.1 -0.2 -0.7 -1.0 -0.6 0*7 -0.6 90,951 -0.4 -1.5 -2.5 -1. -3.1 -4.4 -6.2 90,468 -2.6 -3.7 -4.7 -5.8 -1.5 -2.5 -3.4 -4.1 -4.7 -3.9 -2.4 -1.7 -2.3 -2.6 -2.6 -1.4 0.6 3.7 90,142 3.5 90, 384 -0.2 -0.4 -0.6 -0.9 O.l —0 . 1 —0 . 2 —0 . 4 -1.1 -1.5 -1.7 -1.5 -0.3 1.5 0.3 0.2 0.0 -0.5 -0.8 -0.8 -0.5 0.6 2.2 0.3 -0.2 -0.4 -0.4 -0.1 0.5 0.1 -O.l -0.0 0.3 1 0 - 7 9 1 1 - 7 9 1 2 - 7 9 ___1 - 8 0 2-80 3-80 0.7 _^ r 7 ? 0 .6 0.6 89,867 90,710 2.3 3.5 1.2 2.4 3.4 4 - 8 Q__ 5 - 8 0 6-80 7-80 3 .3 3.0 2.8 3.3 2.8 90 ,9 1 7P 2.7 91 * 122P 8 - 8 0 __ 9-fiQ I N I T I A L M O N T H __ °- PK£ l I* IN A K Y P R E P A R E D BY F E D E R A L R E S E R V E BAN K Q F ST. L O UIS J A N U A R Y 9, 1981 2 EMPLOYMENT RATIO SCALE M ILLIO N S OF RATIO SEASONALLY ADJUSTED PERSONS M ILLIO N S SOURC Et P E R C E N T A G E S ARE LATEST K A NN UA L R A T E S OF CHAN GE FOR P E R I O O S OA TA P L O T T E D . OF U.S.DEPARTM ENT SCALE PERSONS OF LA BO R INOICATEO OE CE MB E R P R E L I M I N A R Y RCVJStft F R O M P R EP A R E O B Y F E O E R A L RE SERVE BANK OF S . LOUIS UNEMPLOYMENT RATE S E A S ON A L L Y PE R C E N T ADJ USTED PE R C E N T 11.0 1 1 10.1 I . 9.( 8. ( > . SOURCEt PER CEN T LATEST OF C IV IL IA N DA TA P LO TT E D* x m is t o from i m . U.S . DE PARTM ENT OF L A BO R L A BO R FO RC E 0ECEM8ER PREPARED BY FEDERAL RESERVE BANK OP S . LOUIS 3 CONSUMER P M CE IN P E X t SEASONALLY -ADJUSTED » COHPOUNDEO ANNUAL RATES OF CHANGE INITIAL. H O N T H 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 1967 * 100 4-80 3-60 5-80 6-80 13.7 7-79 13.6 13.5 8-79 13.3 13.1 12.8 9-79 13.6 13.6 13.6 14 .5 10-79 13.4 13.3 13.2 13 .5 12.5 11-79 13.3 13.2 13.2 13 .3 12.7 12.9 12-79 13.7 13.7 13.7 13 .9 13.7 14 .4 9-80 10-80 218.7 220.9 223.4 225.6 227.9 15.8 230.7 234.0 1-80 14.3 14.3 14.5 14 .8 14.9 1 5 .7 17.2 18.6 2-80 14.6 14.8 14.9 1 5 .3 15.5 16.2 17.3 18.1 17.7 3-80 15.0 15.1 15.3 1 5 .7 15.9 16 .6 17.5 18.1 17.9 18.0 A—80 14.7 14.8 15.0 15.2 15*3 1 5.8 16.4 16.6 15.9 15.0 237.2 240.5 242.8 12.1 244.9 5-80 14.4 14.5 14.5 1 4 .7 14.8 15.1 15.5 1 5.4 14.6 13.6 11.5 10.9 6-80 14.1 14.2 14.2 1 4 .4 14.4 14.6 14.9 14.7 14.0 13*1 11*4 11.1 11.3 13.0 12.6 11.6 10.4 8 .6 7 .4 5.8 0 .5 13.1 8-80 216.4 6-79 7-80 7-80 *4 5-79 T — o TERMINAL run i n 13.1 13.0 13.1 12.9 1 3 .0 247.1 247.2 248.9 8-80 12.8 12.7 12.7 1 2 .7 12.5 12.5 12.5 12.1 11.2 10.1 8.6 7.7 6 .7 4.5* 8 .6 9-80 12.8 12.8 12.7 1 2 .7 12.6 12.6 12.6 12.2 11.4 10.6 9 .4 8.8 8 .3 7 .3 10.9 13.3 10-80 12.8 12.8 12.7 1 2 .7 12.6 1 2 .6 12.6 12.2 11.6 10.8 9 .8 9.4 9 .2 8 .6 11.5 12.9 11-80 12.8 12.8 12.7 1 2 .7 12.6 1 2 .6 12.6 12.3 11.7 na 10.2 9.9 9 .8 9 .5 11.8 13.0 12.8 13.0 12-80 12.9 12.8 12.8 12.8 12.7 12 .7 12.7 12.4 11.9 11.3 10*6 10.4 10.4 10.2 12.3 13.2 13.2 13.5 9-72_ 10-79 11-79 12-7? 1-flO 2-GO a-flo. 4-M 5-flO 6- a o 7-80 fi-flO 9-80 10-80 ll-fl.Q_ 5-79 . 6—72_ 7-7S_ 8-79 251.5 254.0 12 .6 256.6 13.9 259.4 ♦CPI-W FOR URBAN WAGE EARNERS AND CLERICAL WORKERS PREPARED BY FEDERAL RESERVE BANK OF S T , LQ U I^ JANUARY 23, 1981 PRO D U C ER P R IC E IN D E X , F IN IS H E D ______________________ C O M P O U N D E D A N N U A L GOODS RATES - S E A S O N A L L Y A D JU S T E D O F C H A N G E _____________________ T E R M I N A L _______________________________________________________________________________________ I N I T I A L MONTH_________________________________________________________________________________________ 1 9 6 7 MONTH 5-79 6-79 7-79 9-79 10 -7 9 11-79 12-79 8-79 1-80 3-80 9 -8 0 10-80 li- e o 2-80 4-80 5-80 6-80 7-8 0 8-80 « 100 2 1 3 .4 6-79 7 .6 7-79 11.2 1 5 .0 8-79 12*2 1 4 .6 9-79 1 3 .9 1 6 .1 1 6 .6 1 9 ,1 10-79 1 3 .9 1 5 .5 1 5 .7 1 6 ,4 1 3 .8 2 1 5 .9 1 4 .2 2 1 8 .3 2 2 1 .5 2 2 3 .9 11-79 1 4 .1 1 5 .5 1 5 .6 1 6 ,1 1 4 ,6 1 5 .5 12-79 1 3 .6 1 4 .7 1 4 .6 1 4 .7 1 3 .3 1 3 .0 1 0 .5 2 2 6 .6 1-80 1 4 .5 1 5 .6 1 5 .7 1 6 .0 1 5 .2 1 5 .7 1 5 .8 2- e o 1 5 .0 1 5 .9 1 6 .1 1 6 .4 1 5 .8 1 6 .4 1 6 .7 1 9 .8 1 8 .5 3-80 1 5 .3 1 6 .2 1 6 .3 16.6 1 6 .2 1 6 .7 1 7 .0 1 9 .3 1 8 .3 1 8 .2 4-80 1 4 .6 1 5 .3 1 5 .3 1 5 .5 1 5 .0 1 5 ,2 1 5 ,1 1 6 .3 1 4 ,7 1 2 ,9 7 .8 5-80 1 3 ,6 1 4 *2 1 4 ,1 1 4 ,1 1 3 .5 13* V 1 3 ,1 1 3 ,6 1 1 .8 9 ,7 5 ,7 3 ,6 6-80 1 3 .2 1 3 .7 1 3 .6 1 3 ,6 1 3 .0 1 2 .9 1 2 .5 12. 8 lit ? 9 .5 6 ,7 6 ,1 8.8 7-80 1 3 .9 1 4 ,4 1 4 ,3 1 4 .3 1 3 .9 1 3 .9 1 3 ,7 1 4 .1 1 3 ,0 U .9 1 0 .4 1 1 .3 1 5 ,3 2 2 .3 8-80 I4 t2 1 4 ,6 _ 1 4 ,6 1 4 ,7 1 4 ,3 1 4 .3 1 4 ,2 1 4 .6 1 3 .7 13,0 1 1 ,9 1 3 .0 1 6 .4 2 0 .3 1 8 .4 9-60 1 3 .i 1 3 .4 1 3 ,3 1 3 .2 12.8 1 2 .7 1 2 .4 1 2.6 11,6 10,6 9 .4 9 .8 1 1 .4 12.2 7 .5 - 2 .4 2 2 8 .5 2 3 2 .2 2 1 .3 2 3 5 .5 2 3 8 .8 2 4 0 .3 2 4 1 .0 2 4 2 .7 2 4 6 .8 2 5 0 *3 2 4 9 .8 10-80 1 2 .9 1 3 .2 1 3 .1 1 3 .1 12.6 1 2 .5 1 2.2 1 2 .4 1 1 .5 10,6 9 .6 9 .9 11.2 11.8 8 .5 3 .9 1 0 .6 11-80 1 2.6 1 2 .9 12,8 1 2 .7 1 2 .3 12.1 1 1 .9 12.0 11.1 1 0 .3 9 .4 9 .6 10.6 11. 0 8 .4 5 .2 9 .2 7 .9 12-80 1 2 .4 12.6 1 2 ,5 1 2 .4 12.0 11.8 11.6 11.6 10.8 10 .1 9 .2 9 .4 10.2 1 0 .5 8 .3 5 .9 8 .8 7 .9 7 .8 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 6-80 7-80 8-80 9-80 10-80 11-80 IN IT IA L 2 5 1 .9 2 5 3 .5 2 5 5 .1 MONTH 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. LO U I S J A N U A R Y 9* 1 9 8 1 4 RATIO SCALE P R I C E S 1967-100 SEASONALLY ADJUSTED RATIO SCALE 1967-100 ILfPI-U FOR ALL URBAN CONSUMERS £ £P I-f FOR URBAN »AGE EARNERS AND CLERICAL WORKERS PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED LATEST DATA PLOTTED. DECEMBER PREPARED BY FEDERAL RESERVE BANK OF SI . LOU Ii ratio SCALE PRODUCER PRICES 1967-100 SEA SO N ALLY A D JU S T E D RATI O SCALE 1967-100 PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATEO LATEST DATA PLOTTED. DECEMBER PREPARED BY FEOERAL RESERVE BANK OF S . LOUIS 5 PROOUCER P R IC E IN O C X t F I N I » * E D CONSUMER FOOOS - SEA SO N A LLY A D JU ST ED _____________________ COWPOUWO€Q ANNUAL R A T IS O f CHAHfeg___________________________ TERMINAL _______________________________________________________________ IN IT IA L MONTH______________________________________________________________ *» T h 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-eo 3-60 4-60 5-40 6-80 7-60 8-6© 9-80 10-60 11-60 6-79 -1 1 .2 7-79 -1*9 8 .4 8-79 4 .9 14.0 19.9 9-79 8 .0 15.3 18.8 17.7 10-79 6.1 11.0 11.8 7 .9 - 1 .0 221*3 222*6 226.2 229.3 229.1 11-79 9.1 13*7 15.1 13.5 11.5 2 5 .6 12-79 8*3 11.9 12.6 10.8 8 .6 13.8 l- e o 5*6 6*4 8.4 4^3 3 .6 5*2 4 *4 4 ** 4*$ 7*2 5 .5 3 .6 4 *5 3-eo 1967 « IQO 4 ** 2 »*5 234.1 3 .1 - M -10*2 232*0 - 4 *2 - 7 *7 2 3 1 .® - 0 .1 -1*2 3 .7 13.2 5*3 7 .4 4-80 1 .7 3 .0 2 .5 0 *5 -1.8 - 1 .9 - 6 .7 ^ 6 .9 -6*5 -10.2 -26.7 5-eo 1*6 2.8 2.3 0 .5 -1.5 - 1 .6 - 5 .5 -7 .1 -6 .3 -6 .7 -15.4 6-eo 2.1 3 .3 2.9 1.3 -0.3 - 0 .3 -3 .5 - 4 .6 - 3 .4 -3 .0 -7.8 4*9 9 .4 7-80 5 .4 6.8 6.6 5 .5 4 .4 5 .0 2 .6 2.6 4 .9 7.0 5.5 20.2 31.5 8—80 8 .6 10.2 10.4 9 .6 8 .9 9 .9 42*2 9-94) 7*9 #*4 8 .3 9 .0 12.0 15.2 15*« 3 «*4 T** 1$*1 1 2 .5 42*4 2 3 .1 7<a 7*5 **7 11*7 H I.5 20*1 7 *1 7 .4 9 .4 ll.l 10*9 6 .2 6*4 8.1 9.5 9 .1 9-79 10-79 11-79 12-79 1-80 2-60 3-60 6*5 9.0 226.9 0.5 ?# 2 1J9 **1 7*® 235*4 U -W ) 7.3 8*3 7*7 1 .4 12-80 7.1 8 .2 8.2 7 .5 6.9 7*4 5-79 6-79 7-79 8-79 227.0 228.7 58.1 237.6 * 2 .2 4 6 *4 36vf 2 7*4 —2 *4 24^5 26^6 20*0 2*0 4*5 19*1 21*3 25*6 1**5 **4 «6*5 6 .5 15.0 17*3 18.6 12.0 1*5 2 .8 1.0 4-60 5-80 6-80 7-60 8-60 2 4 7 ** 24T*4 24 6 .7 2 5 C ** - 4 .2 249.1 9-80 10-60 11-80 IN IT IA L MONTH PRGOUCER P R IC E INOEX, FIN ISH € 0 GOODS* EXCLUOING FOODS - SEASONALLY ADJUSTED __________________________ C0HP0UN06Q ANNUAL RATES OF CHAN6E_____________________________ TERMINAL_________________________________________________________________ IN IT IA L MONTH___________________________________________________________________ 1967 « 100 MONTH 5-79 6-79 7-79 8- 79 9-79 10-79 11-79 12-79 1-60 2-60 3-80 4-60 5-60 6-80 7-80 8-60 9-80 10-60 11-80 206.6 6-79 14.2 7-79 15.8 17.3 8-79 14.7 14.9 12.6 9-79 15.9 16.4 16.0 19 .5 10-79 16.5 17.1 17.1 19 .4 211*6 213*7 216.9 19.2 220*1 U-79 15.8 16.1 15*8 16 .9 15.6 12.1 12-79 15.5 15.7 15.4 16 .1 15.0 12.9 13.6 222.2 1-60 17.5 18.0 18.1 19 .3 19.2 19*2 2 3.0 33.0 21.1 24.3 29.9 26.8 224.6 230.0 2*4*6 2-60 18.5 19.1 19.3 20 .5 20.7 3-60 18.7 19.2 19.4 20 .4 20.6 20.9 23.2 26.5 23.4 ?o t l 4-60 18.9 19.4 19.6 2 .5 20.6 20.9 2 2.7 25.1 22.6 ?P t5 ?P f9 20.8 17.9 l?tl IZLL 17.7 18.0 18.1 1 ,7 18.6 6-60 7-60 16.9 17.1 17.1 1 *6 16.7 16.9 16.8 \ ,? 6-80 16.0 16.1 16.0 242.0 243*0 18.5 19.6 17.4 17.2 17.9 18.6 15.9 13*2_ 11.2 6.6 AtZ. 17.0 16.7 17.3 17.9 15.5 13.4 11.8 6.9 19 ♦# \ t? 16.0 15.7 16*1 16.4 14*2 l? T * 10.7 6*3 9*4 10*0 6*5 1 4.0 14.1 14.2 12.0 10.1 6 .5 4.2 6 .4 5 .8 2 .2 -1.9 ? il 244.6 247.2 I3 t ? . 246*5 14*6 14.8 14.6 I ♦8 10-60 14*6 14.6 14.4 \ .6 14.2 13.8 13.9 13.9 12.0 10*3 6.9 7*1 7 t 5_ 7 .3 5 .3 4,7 1 1 .7 11—60 14.2 14.2 14.0 I tl 13.8 13.3 13.5 13.4 11.6 10*1 6 .9 7 .3 7.6 7 .5 6.1 5.9 10*1 8*5 12-60 14.1 14.1 13.9 1 .0 13.6 13.2 13 .3 13.3 11.6 I O t? 9 .2 7.6 6*2 • t l 7*1 T.3 10.6 10.0 5-79 6-79 7-79 • -7 9 9-79 li- 7 9 12-79 1-60 2-60 3-60 4-60 5-60 6-66 7-60 © T • 9-60 14.4 © 1 3 5-60 236.2 246.1 250*4 252.1 11.5 254.4 9-80 10-60 11-6© IHITi/W. u s k ta r PftfPA A EO » Y FEO tftA L R ESC R V E BANK, OF S f . j a b u a a y 9 , 1*61 6 LO UU INDUSTRIAL RATIO PRODUCTION RATIO SCALE SEASONALLY ADJUSTED 1967-100 1972 1973 1974 1975 1976 SCALE 1967-100 1977 1978 1979 1980 P E R C E N T A G E S Atf A W f f Al R A T E S Of C H A N G E FOft PEU IOf 5 INDICATE». LATEST DATA F L O T T O * K CE M U ft PftElHIINAftY PftEPAftIO »Y F E K f t A l ftE SE ftYE S A N K OF ST. L M Î S INDUSTRIAL MtOOUCTlON l u m of c h a m m conpouno€ o annual INITIAL N0N1H THMIMM. 1*47 • 100 mmTH 5-7* 4-Tf 4-7* 7-7* #•7* *-7* 10-7* 11-7* 2-40 >-#0 4-#0 5-40 4-40 7-40 4-40 *-40 10-40 11-40 151.0 1 4 4— 7 * -1*4 -1.5 -4.4 V T f 0.0 - 4 4 - 1 4 151.0 0*0 152*1 4.4 152*7 10-7* 0»# •0*4 -0.4 2.4 0.0 11— 7 * -0*5 • U l —1 4 0*5 — 1*4 ->♦1 12-7* -0*2 -0.7 - 0 4 • 4 -#♦5 1-40 0.0 -0.1 —#♦4 2-## -0.1 -#.4 -0*4 * * 0 -#•5 -0.4 4-#0 - K 1 5-40 4-#0 7—# 0 *-♦0 10- # # 1-40 2.4 7-7* •-«0 12-7* 152.7 1524 -0.4 1*4 1524 0** 0*# 0«# 1.4 1 4 152*7 0.7 -0.2 -0.2 0.# 0.4 -4.4 -0.* 0.0 - 0 4 -#.* «#♦4 - U O -2.1 -1.7 -4.1 ->♦7 -4.* -5.7 -4.2 -4.4 -11.0 - I M -5.7 - 4 4 -7.0 —7*0 -4.4 -*•4 -14.4 -12.* -14.1 -2#.7 -24.0 - W * 7 - M -7.5 -4.2 •#♦1 -*♦7 -10.4 -11*4 - U . * -14.7 * 2 0 4 -25.1 -24.5 -4.* •7*4 -#♦2 -4.4 -♦•4 - 1 0 4 — 15*5 - l i a —21*1 -1**7 -14.1 - 4 4 - M —4.1 - M - 4 4 1 4 12*4 -4.1 -4.7 -5.0 —4.* -5.4 -4.1 -4.4 -7.» -4.1 -**4 -10.2 -2*7 - i a - 1 4 - 1 4 -1*4 - 1* * -#.* -4.5 • » a - M - .* -§♦0 -2*4 -2.7 - M - * 4 -t«# • 1 4 - M - 1 4 1- 2- - 4 4 •7*1 -4.5 -11 #5 - U « 2 -#♦1 -10.» -11.* - U . 7 JlrSO -It? •Itf - 1 4 - 1 4 -fît u-# o - 0 4 -1 4 - U l -0*7 • 5-7* 4—7* 7-** •-7* 4-Tf 10-r* 11-74 U - T * 1» # - 1*1 1524 M 152.1 -».* 1444 -24.2 -15.5 -12*4 5 M 1444 1414 1404 1414 -4.7 0 4 7.4 14.* - 2 4 4#7 11.7 1 * 4 21.1 21.1 » 1444 4 1444 M T*4 I M 24*0 Z U 4 P t l 2 1 4 2#4 •♦1 11.4 14.5 2 0 4 1 * 4 1 7 4 1 2 4 4-#0 5-40 4-## 7-#0 i-40 4-4# 10-00 11-40 14*4? 150.7F IMITI AL N W W F- F m u m N r r ****** tv Kwui ftiwvt urn ortr. umi 4 m m x 7 lit i m PERSONAL RATIO TRILLIONS OF DOLLARS 1 97 ? INCOME* MONTHLY TOTALS AT ANNUAL RATES SCALE 1973 SEASONALLY AOJUSTEO 1974 1975 1976 1977 SOUftCE. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S LATEST DATA PLOTTED: * OATA PRIOR TO 1979 RATIO TRILLIONS 1978 U .S . SCALE OF DOLLARS 1979 1980 DEPARTMENT OF COMMERCE INDICATED. DECEMBER PR ELIM IN A RY I N PROCESS OF REV ISIO N . PREPARED BY FEDERAL RESERVE BANK OF J LOO I i P ERSONAL INCONE C O MPOUNDED ANNUAL RATES OF CHANGE BILLIONS Of T E R M I N A L ________________________ ________ _______________________________________I N I T I A L M O N T H _____________________________________ ___________________________________ O O L L A R S ANNUAL RATES MONTH 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 6-80 13*4 7-79 17.0 20.8 8-79 15*9 17.1 13.5 9-79 13*9 14.1 10.9 8 .3 10-79 14*1 14.3 12.3 11.6 1 ,9 7 4 .8 1 ,9 8 7 .9 2 ,0 1 1 .3 15.1 2 ,0 3 2 .6 11-79 14*0 14*2 12*6 12.2 14*3 13.5 13.7 13.8 12.4 12.2 13.5 12 .7 11.9 1-80 14*0 14.1 13.0 12.9 14.1 13.8 13.9 15.9 2 ,0 5 1 .8 2 ,0 7 7 .2 00 l <M © 2 ,0 8 6 .4 13.0 13.0 11.9 11.6 12.3 11.6 11.0 10.6 5 .4 3-80 12.6 12.5 11.5 11.2 11.7 11.0 10.4 9 .9 7.1 8.7 4—« 0 11.4 11.2 10.2 9 .8 10.0 9 .2 8 .4 7 .5 4 .9 4 .6 0 .6 2 ,1 0 1 .0 2 ,1 0 2 .1 11*1 10.9 9.9 9 .5 9 .7 8 .9 8 .2 7 .4 5 .4 5*4 3.8 7.1 10.8 10.6 9.7 9 .3 9*4 8 .8 8 .1 7 .5 5 .9 6.0 5.1 7 .4 7 .6 7-80 11.5 11*4 10.6 10 .3 10.6 10.1 9 .6 9 .3 8 .3 8.8 8.8 11.7 14.1 2 1 .0 9.2 11.4 12.9 15 .7 ** © 1 CD © 5-8 C 6-80 9-80 9-80 10-80 11-80 1 ,9 5 4 .0 12-79 11.4 8-80 1 ,9 2 3 .5 6—79 8-80 7-80 11.3 10.6 10.4 10.6 10.1 11.7 11.6 10.9 1 0 .7 11.0 12.0 11.9 11.4 11.2 11*4 8 .6 9.1 2 ,1 1 4 .1 2 ,1 2 7 .1 2 ,1 6 1 .2 2 .1 7 9 .4 10.6 9 .7 9 .5 10.6 10.3 10.1 9 .4 10.0 10.2 12.2 13.6 15.6 13.0 15.5 11.1 10.9 10.8 10.3 10.9 11*2 13.1 14.3 1 6 .0 14.4 16.4 17 .3 14 #3 1 5 .7 14.4 J5 t7 15*8 14.3 13.1 2 ,2 0 5 .7 2 ,2 3 5 .3 2 *260.4 11-80 12.1 12.1 11.5 11.4 11.6 11.4 11.2 11.1 10.7 11.3 11.6 12-80 12.1 12.1 11.6 11.4 11.7 11.4 11*3 11.2 10.8 11.3 11.6 13.1 14.0 1 5 .0 13.9 14.7 1 4 .5 5-79 6-79 7-79 8-79 9-79 10-79 11-79 12-79 1-80 2-80 3-80 4-80 5-80 6-80 7-80 8—80 9-80 10-80 11-80 11.8 2 ,2 8 1 .5 P INITIAL MONTH P- PRELIMINARY PREPAREO 6Y FEDERAL RESERVE J A N U A R Y 19* 1981 8 BANK O F ST* LOUIS RETAIL RATIO SALES SCALE BILLIONS RATIO OF D O L L A R S BILLIONS SEASO N ALLY AD JUSTED SO U R C E : PE R C E N T A G E S LA TEST ARE ANNUAL DATA P L O T T E D : RATES OF N O V EM BER , CHANGE FOR P E R IO D S DEC EM BER ADVANCE TERMINAI MONTH RETAIL ANNUAL OF D O L L A R S DEPARTMENT OF COMMERCE IN D IC A T E D . E S T IM A T E PR EPA R ED COHPOUNOEO U .S . SCALE BY FED ERAL SALES RATES OF CHAN f t C R ESERV E BANK OF ST. L O U IS ______________ I N I T I A L M O N T H _________________ H ? H 9 7-79 8-79 9-79 10-79 11-79 12-79 1-8 Q 2-80 3-80 4-80 5-80 MILLIONS OF DOLLARS 6-80 7-90 8-80 9-80 10-90 11-80 -3*3 7—79 7» 1 7 2 »093 7 3 ^ 1 21 18,3 8-79 15,1 2 5 ,5 32 ,8 9-79 19,3 27,9 32 ,9 10-79 1W 3 15,2 14,2 5 8 -15.7 11-79 11*7 15.0 14,2 8 5 12-79 11,8 1 4,5 13.7 9 4 2.5 13.1 12*1 1-80 15.2 18.2 18.1 15 4 11.4 22*2 26*4 2-80 10*7 12*5 11.7 8 5 4 .2 9*9 8*5 7<Tt971 32 9 76.666 -1 .9 75.583 76,421 14.1 77,150 79,464 42*6 77,993 6 .7 -20*1 3-80 7*1 *> • CO 7.1 3 8 -0*3 3*0 0 .4 - 3 .2 -20.2 -2 0 .3 76,534 4-80 4*1 4 ,9 3 ,5 0 3 -3 ,7 - 1 .5 - 4 ,4 - 8 ,1 -20,6 -20*9 -21*4 75.011 5-80 3*2 3*8 2 ,4 -0 ? -4 ,0 - 2 .2 - 4 .7 - 7 .8 -17.3 -1 6 .4 -14.3 6-80 4*7 5 .4 4 ,3 X 8 - 1 .2 0*8 - 0 .9 - 3 .0 -10.1 -7 .5 —2*8 8*2 25*3 7-80 7*1 7 .9 7,1 5 0 2 .5 4*8 3 .7 2*5 -2*9 0*9 7*0 18*6 33*7 42*7 8-80 7*1 7*9 7.1 ? ? 3*0 5*1 4 .1 3*2 -1*5 2*0 7*2 15*8 24*4 24*0 7*7 78,770 23*8 23*3 14*6 22*0 80,087 74,587 —6*6 76,001 78,287 9-80 8*0 8 .8 8*1 6 4 4*5 6*5 5*8 5*1 1*2 4*6 9*5 17*Q 10-80 8*0 8 .7 8*1 6 5 4*7 6*6 6 *0 5*4 1*9 5*1 9*3 15*5 20*5 19*3 12*4 14*9 8*1 11-80 8 .7 9*5 8*9 7 J 5*9 7 .7 7 .2 6 .8 3*7 6.8 10*8 16.3 20*7 19*8 14.6 17,1 14*7 ? 9 4 .3 4*8 1*9 4*4 7*6 11*9 14*8 13*1 8*0 8.1 3*8 1*7 -15*0 10-79 11-79 12-79 1-60 2-80 3-80 4-80 5—80 6-80 7-80 8-80 9-80 10-80 11-80 12-80 7*3 7*9 7*3 5-79 6-79 7-79 8- 9 9-79 5*9 5*3 80.609 21.6 81,933P 80,830E INITIAL MONTH P- PRELIMINARY ESTINATt P__ PRIPARBD BY J A N U A R Y 14, 9 FEDERAL RBSCRVE 1981 BANK O F ST* LOUIS HOURLY CO M PENSATIO N, P R IV A T E B U S IN E S S SECTOR COMPOUNDED ANNUAL R A T ES OF CHANCE TERM INAL WTTIAL 1967 * QUARTER IOO QUARTER 4-75 1-76 2-76 1-76 2-76 3-76 4— 76 1-77 “2 -7T 3-77 4-77 1-78 2-71 T-7T 4-78 T-79 2-79 3-7* 4-79 i-ao Z-60 191.5 10.5 9 .8 ~ ?.l 195.7 3-76 9.3 8 .7 6.4 4-76 *•3. 8.9 8.8 9.1 1-77 9.0 8 .6 8.5 8 .5 199^T 204.1 7 .^ 21 l . T 2-77 8.5 è.i 7.9 7 .8 7 .1 6.3 3-77 8.5 8.2 8.1 8.0 7.6 T.4 — 8.6 4-77 8.2 7.9 7.7 7.6 772 7.0 7.3 6.1 1— 78 8.5 8.3 8.2 8.1 8.0 8.0 8.5 8.5 11.0 9.3 21576" 218.6 ZZ4.6 2-78 8.5 8.2 8.1 "8.1 7.9 T.9 8.3 ê.2 3-78 8.5 8.3 8.2 8.2 8.0 8.1 8.4 8.4 6.3 8.8 4-78 8.5 8.3 8.2 6.2 8.1 6.1 8.4 “1 . 4 8.3 8.6 7.7 22 8 # 8 ” 233.7 " 8.3" 9.0 9.4 9.7 9.1 *.4 9.6“ 10.3 9.5 9.0 9.3 9.4 9.1 238^4''" ' 244.8 1-79 8.7 8.5 8.5 8.5 8 .4 8.5 8.8 8.8 2-79 8.7 8 .6 6.6 8.6 8.5 8.6 8.9 6.9 3-79 8.7 8.6 8.6 6*6 8.5 6.6 8.9 8.9 4-79 8.6 8.5 8.5 8.5 8.4 8.5 8.7 8.7 9.1 8.8 9.0 9.(T 9.2 ■8.5 8.1 7.4 260.3“ 1-60 8.8 8 .7 8.7 8.7 8 .7 8.8 9.0 9.0 9.4 9.2 9.4 9.5" 9.7 ~ 9.3 9.3 "9*5 T 1 . 7 267.6 2-60 $.0 8.9 8.9 8.9 8.$ 9.0 9.2 9.3 9.6 9 .5 9.7 9.r 10.1 ' 9 .8 9.9 10.3 n:* 12.0 3-60 9.0 8.9 8.9 8.9 9.0 9.Z 9.2 9.5 9.4 9.6 9./ _ 9.9 9.7 9 .7 9.9 10.8 1TJ.3 677 4-75 1-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 2-76 9.4 9.3 3-78 11.2 9.8 250.4 8.7 255.7 275.3 281.1 INITIAL QUARTER PREPARED HOVENBfcK O U T P U T PER H O U R O F A L L P E R S O N S * P R I V A T E B U S I N E S S COMPOU N D E D ANNUAL RATES Of CHANGE TERMINAL QUARTER BY F E D E R A L R E S E R V E 26* 1 * 8 0 - BANK Of 1“7 6 2— 76 3— 7 6 4-76 1— 7 7 2-77 T - T 7 4-77 1-78 2-78 LOUIS SECTOR 1967 ■ 100 INITIAL QUARTER 4-75 ST. 3-78 4-79 1-79 2-79 J-79 4 — Jv 1-80 2-80 IÏ5.0 1-76 7.6 2 — 76 4.4 1.4 3-7è 3.6 1.7 2.1 “^ 7 6 3.1 1.6 1 .7 1.4 117.0 11 7 . 4 110.7 1-77 3.4 2.3 2.6 2.9 4.5 2-77 2.4 1.4 1.4 1.1 1.0 -2.3 3-77 2.6 2.1 2.2 2.2 2.5 1.5 4-77 2.2 1.5 1.5 T.4 1.4 0.3 1.7 -Z.0 1-78 1.8 1.1 1.0 0.9 0.7 -0.2 0.6 -1.8 -1.7 2-78 1.8 1.2 1.2 1.Ö 1.0” 0.3 0.9 —0.6 0.2 2.0 116.0 119.6 5.5 119.0 118.5 119.1 II*. 7 3-78 1.8 1.3 1.1 l.Tr 0.6 r.T 0.1 0.6 Z.O Z.O 4-78 1.7 1.2 1.2 1.1 1.0 0.5 1.0 0.1 0.7 1.5 "1.2 0.3 t-T9 1.3 0.8 0.8 0.6 0.6 0.1 " 0.4 -0.4 -0.1 0.3 “0 . 2 — 1.3 —3.0 -2.0 119.8 116.9 2-79 1.1 0.6 0.5 0.4 0.3 -0.1 0.1 -0.6 -0.4 -0.1 -0.7 -1.6 -2*5 3-79 0.9 0.4 0.4 0.2 0.1 -0.3 -0.1 -0.8 -0.6 ■0.4 -0.9 — 1.6 -2.2 -1.8 — 1.7 4-79 0.8 0.4 0.3 0.2 O.l -0.3 -O.l -0.7 -0.5 -0.4 H).8 -1.3 -1.8 — 1*3 — 1.0 -0.3 1-80 0.8 0.4 0.3 0.2 0.1 -0.3 -0.1 -0.6 -0.5 -0.3 -0.7 -1.1 -1.4 -1.0 -0.7 -0.2 ¿-60 0.6 0.2 0.1 —0 .0 -0.1 —0. 5 -0.3 -0.9 —0 . 7 -0.6 — 1.0 -1.7 -1.4 -1.3 -1.1 -1.5 -3.0 5-60 0.5 0.2 0.1 -0.0 -0.1 —0.4 ~=0.3 -0.8 -0.6 -0.5 -0.6 -l.z -1.4 -1. 1 -0.9 —0.6 -0.9 -1.4 0.3 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-76 1-79 2-79 3-79 4-79 1-80 2-60 118.3 117.8 117.7 0.0 117.7 116.6 H6.9 INITIAL QUARTER PREPA RED BY F E D E R A L R E S E R V E BANK OF S T . L O U IS H W E W B g R Z&» 1*80----------------------------------- 10 PR O D U C T IV IT Y , R ATI O CO M PEN SA TIO N , AND SEA SO N A LLY 1967-100 SOURCE. DATA PLOTTED. U S. DEPARTMENT OF LABOR IND ICATED . 3RD QUARTER PREPARED BY FEDERAL ~~ SCALE A D JU S T E D PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S LATEST COSTS RATIO 1967-100 RESER VE BANK OF < L O U I! UNIT L A W * COSTS, PRIVATE BUSINESS SECTOR C O H P O U N O C D A N N U A L r a t e s o f c h a n g e ---------- TERMINAL QUARTER “ LABOR SCALE I N I T I A L Q U A R T E R ------------ ^4=751=75 1-76 2.7 "2- 7 5 572 2-75 3—75 4-75— 1-77 2-77 3-7T" 4-77 1=7«— 2=78 — 3-78 1967 4-78— 1-77 2-79 * 100 3-79 '4 -7 9 — 1=80— Z=TO---------------- — 165*1 777 168.2 " 3-76 5.5 5.* 5.1 4-75 6.0 7 .1 6 .8 7 .5 —1-77^“ 5.5 6.2 5.7 5.5 170.7 3.5 175.3 l-Tt 6.0 6.6 6.4 6.5 6*0 8*5 3-77“ 5.5 6.0 5.7 5.6 4.9 5*7 2.9 170.9 4-77 5.9 6.4 6.1 6.1 5.8 6*6 5.7 180.2 8 .5 183.9 1-78 6. 6 7.1 7.0 7.2 7.1 8*0 7*9 2-78 6.5 7.0 6.9 7.0 6 #9 7 *6 7*4 8.9 9*1 5*8 3-78 6.5 6.9 6.8 6.9 6.9 7*4 7*2 8 . 3 “~ * 7 3 4*2 6.6 4-78 6.7 7.0 7.0 7.1 7.0 7*5 7*4 1*3 8*2 6.8 7.3 8 *0 ' 10.5“ 12*5 189*4 1 *2 .1 — Ï* 5 7 7 199.0 1-79 7.3 7.6 7.6 7.8 7.8 8.4 8*4 9.3 9*5 8.7 9.7 11.3 14*4 2-79 7.6 8.0 8.0 8.1 8*2 8.7 8*8 9.5“ 9*8 9.3 10*2 11.4 13*2 3-79 7.8 8.1 è.2 8.3 8*4 8*4 9*0 t*r 9*9 9 .5 10*2 ' 11.2 1 2 . X - 11.1 10*4 4-79 7. 8 8.1 8.1 8 *3 8 8*8 8*8 9*5 9*4 9*2 9*8 " 1 0 . 5 11.T - 1 0 * 0 9*1 1-80 8. 0 8.3 8.4 8.6 8*6 9*1 t .l f.«- “9*9 975 ¿-80 8.4 1 .7 é.è 9.0 9*1 9 .5 "9*5 "1 0 .2 - 1 0 .4 3— 8 0 8.4 8.7 8.8 8.9 9*0 9*4 9 *5 4-75 1-76 2-76 3-76 4-76 1-77 2-77 — Z0577— 11*8 211.7 217.0 T «0 221.1 10*7 11.» 10*5 10*1 10.2 10*7 ' 1 1 . 9 11*9 11 .4 11*3 11*6 13.5 1*.0 i o * r _ 10*2 10.0 10*5 11*0 11*4 10*9 lO*7 10*0 11*6 11*7 0*4 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-BO 3-77 1071 12*1 2 2 7 ** 235.6' 240*4 INITIAL QUARTER PREPARED B Y F E D E R A L R E S E R V E BANK OF ST * L O U IS N UV tN BER Z * , I f 80----------------------------------- 11 C R O S S N A T I O N A L P R O B U C T 1N C U R R E N T D O L L A R S * ____ C O N P Q U N O f P A N N U A L R A T E S O F C H A N C f _____________________________________________________________________ BILLIONS OF T E R M I N A L _____________ _________________________________________________ _______ I N I T I A L Q U A K T C R ______________________________________________________________________ D O L L A R S QUARTER ANNUAL RATKS 2-77 4-70 1-77 4-76 3-77 4-79 3-7B 1-79 l-BO 2-80 1-76 2-76 2-79 3-76 3-79 3-BO *-77 1=71 2-76 6*5 H i 6*9 1*696.6 7*4 1*729.0 4-76 8*1 8.9 10.4 1-77 10*0 11.2 13.1 13.9 2-77 10*3 11.5 12.9 14.2 12.5 3-77 io*e 11.7 12.8 13.6 12.3 12.5 4-77 10*4 Utl 11.8 12.2 11.0 10.3 1-7B 1.772.5 1.839.1 1*893.9 1*950.4 8.1 1*908.6 10*3 10.8 11.4 11.6 10.5 9.9 8.6 9.1 2-7B lit* 12*0 12*6 13.0 12.4 12.4 12.4 14.7 20*5 3-78 11*4 12.0 12.6 12.9 12.4 12.3 12.3 13.8 16.2 11.9 4-78 11*8 12.3 12*9 13*2 12.8 12*9 13*0 14.2 16.0 13.8 15.7 1-79 11.9 12.4 12.9 13.2 12.8 12.9 12.9 13.9 15.2 13.4 14.2 12.7 12.0 12*0 11*9 12*6 13*3 11.5 11.4 9.2 5.9 2-79 11*4 11.8 12.2 12*4 2,032*4 2*129.6 2*190.5 2.271.9 2*340.6 2*374.6 3-79 11.5 11*8 12.2 12.4 12*0 12.0 U.9 12.5 13.1 11.6 11.6 10.2 *t9 12.2 4-79 11.3 11.6 12.0 12.1 11*8 11.7 11.6 12*0 12.5 U.2 ii.O 9.9 9.0 10.3 8*8 1-80 11.4 11*7 12.0 12.1 11.8 11.8 11.7 12*1 12*5 11.4 11*3 10.4 9.9 11*2 10*7 2-80 10*6 10*9 11*1 11*1 10.8 10*6 10.5 10*7 10*9 9*7 9.4 8*4 7*6 8*0 6*6 3*6 -1*1 3-80 10.7 10.9 11.1 11.2 10.8 10.7 10.6 10*8 11.0 10*0 9.7 8*9 8.3 8*t 7.9 7.6 5.2 11.8 4-80 u*o 11.2 11*5 11.5 11.2 11.1 11.0 11.3 11.5 10.6 10.5 9.8 9.5 10.0 9*6 9.8 8*9 14.2 16.7 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-70 4-70 1-79 2-79 3-79 4-79 1-80 2-60 3-80 2*444.1 2.496.3 2.571.7 12.6 2*564.8 2*637.3 2* 7 4 1 . 4 P INITIAL QUARTER ♦REVISED FROM 19*7» P- P R E L I M I N A R Y GROSS N A T I O N A L P R O O U C T I N 1 9 7 2 D O L L A R S * CQNPOWOfP an n u a l HAT*? O f QHAN^e________ _________________ BILLIONS OF TERMINAL_________________________________________________ INITIAL WAMSft________________________________________________ gPLLAR^ ANNUAL QUARTER 1-76 2-76 3-76 2-76 2.7 3-76 2*5 2*3 4-76 2*9 3.0 3.8 1-77 4.6 5*2 6*6 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 RATES 3-80 1.295.8 1.503.3 1.315.4 1.345.9 9.6 2-77 4.7 5.2 6*2 7*4 5.3 3-77 5.0 5*5 6.3 7*2 6.0 6.7 4-77 4.6 4.9 5.4 5*8 4.5 4.2 1*363.4 1*385.0 1.7 1.391.5 1-78 4.4 ^•6 *•0 5# 3 4.2 3.8 2.4 3.1 2-78 4.9 5.2 *♦6 5*9 5.1 5.1 4.5 6.0 9.0 3-78 4*8 5.0 5.4 5.6 4.9 4.9 4*4 5*3 6.4 3*9 1*402.3 1.432.8 1.446.7 4-78 4*8 5*1 5.4 5*6 5.0 4.9 4*6 5*3 6*1 4*7 5*4 1-79 4*8 4.9 5.2 5.4 4.9 4 .8 4.5 3.1 3.5 4.4 4.6 3.9 2-79 4.2 4.4 4.6 4.6 4.1 4.0 3.6 3*9 4.0 2.8 2.5 1.0 -1.7 3-79 4.2 4.4 4.5 4.6 4.1 4.0 3.6 3.9 4.0 3.1 2.9 2.0 1.1 4-79 4.0 4.1 4*2 4.3 3*8 3*6 3*3 3.5 3*6 2.7 2.4 1.7 1.0 2.3 0.6 1-80 3.9 4.0 4*1 4.2 3.7 3*6 3.3 3.5 3.5 2.7 2.5 2.0 1.5 2*6 1.8 3.1 2-80 3.1 3.1 3*1 3.1 2*6 2*4 2.0 2.0 1.9 1*1 0.7 -0.1 -0.9 -0.7 -2.2 -3*6 1.465.8 1.479.9 1.473.4 1*488.2 4.1 1.490.6 1*301.9 -9*9 1.463.3 1.471*9 3-00 3.0 3*0 3*1 3*0 2*6 2*4 2*0 2.1 2*0 1.2 0*9 0.2 -0*4 -0*1 -1*1 -1*7 -4*0 2*4 4-80 3.1 3.2 3.2 3.2 2*0 2.6 2.3 2.3 2.2 1.6 1*3 0.8 0.4 0.8 0.1 -0.0 -1.0 3.7 5.0 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-70 2-78 3-78 4— 70 1-79 2-79 3-79 4-79 l-BO 2- « o 3-80 1.490*1P INITIAL QUARTER « R E V I S E D ff^QM _ L 9 * 7 * P- P R E L IMINARY PREPARK) BY J A N U A R Y 21. 12 F60CRAL RESERVE BANK OF S T ♦ LOUIS I f 1 G R O S S RATIO SCALE 1972 N A T I O N A L P R O D U C T * Q U A R T E R L Y T O T A L S AT ANNUAL R A T E S 1973 1974 1975 1976 1977 RATIO 1978 1979 SCALE 1980 SOURCE: U .S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. X REVISED FROM 1 9 4 7 . LATEST DATA PLOTTED: 4TH QUARTER PREPARED 13 BY FEDERAL R ESERV E BANK OF ST. LO U IS G EN ERAL RATIO PRICE INDEX* SCALE RATIO 1972-100 1972 AS USED 1973 IN NATIO N AL P ERC EN T A G ES LATEST * SCALE 1972-100 ARE ANNUAL DATA P LO T T E D : REVISE* FKW< 1974 INCOME 1975 1976 1977 ACCOUNTS RATES SO U R C E : OF CHANGE 4 TH QUARTER FOR P E R IO D S 1978 U .S . 1979 1980 DEPARTMENT OF COMMERCE IN D IC A T E D . P R E L IM IN A R Y » i,4 7 . PREPARED BY F E D E R A L RESERV E BANK OF S T . L O U IS IM P L IC IT PR IC E DEFLATOR FOR CROSS NATIONAL PROOUCT* ___________COMPOUNDED ANNUAL RATES OF CHANGE______________ TERMINAI. 1972 - IQQ _________________________I N I T I A L Q U A R T E R _____________________________ QUARTER ■lr76 2-1* 2-7 6 _2r7fr 4.9 ____ 4 -7 fr .1-77__ 2-77 ?-77 *~77 1-7?__ 2-78 3-79 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3 -8Q 3*7 ?-Z6. _ 4*3 4-76 _Lrt> _1?£«66 _ L t 2 ____ ìl±5_ 1M * 7 ? 1-7? 2-77 l ? 6 r6* 5 .5 3-77 6 .0 6 .3 6» 3 6.8 l?ft«9i ____ £±5____ 4-77 5 .6 5 .9 6 .1 6 .1 6 .2 5 .8 6 .3 1-78 5*6 5 .9 6 .1 6.0 6.1 5 .8 6 .0 5 .8 2-76 6 .2 6 .5 6 .7 6 .6 7 .0 7 .0 7 .5 8.2 10 .6 3-78 6 *3 6 .6 6.8 6 .9 7 .1 7 .1 7 .6 8 .0 9 .2 1 4 2 *9 1 1 4 4 .9 3 1 4 8 .6 3 7 .7 1 5 1 .4 2 4 —7 8 6 .6 6*9 7 .2 7 .2 7 .5 7 .6 8.0 8 .5 9 .4 8 .7 9 .8 1-79 6*8 7 .1 7 .3 7 .4 7 .6 7 .7 8 .1 8 .4 9 .1 8.6 9 .1 8 .4 6 *9 7 .4 7 .6 7 .7 8 .0 8 *3 8 .9 8 .4 8 .7 8 .1 7 *8 8 .7 8*3 8 .5 8.0 7 .8 2-79 1 5 4 .9 9 1 5 8 .1 6 7 .1 7 .3 6*9 7 *2 7 .4 7 .5 7 .6 7 .7 8.0 8 .3 4-79 7 .0 7 .3 7 .4 7 .5 7 .7 7 .8 8.0 8 .3 8.6 8 .3 8 .4 9 .1 7 .9 8 .0 8.1 1-80 7 *2 7 .4 7 .6 7 .7 7 .8 7 .9 8.2 8 .4 8 .7 8 .4 8 .5 9 .3 8 .3 8 .4 8 .7 9 .3 2-80 7 *3 7 .5 7 .7 7 .8 8.0 8 .1 8 .3 8 .5 8.8 8.6 8 .7 8 .5 8 .6 8 .8 9 *1 9 .5 9 .8 3-80 7 .4 7 .6 7 .8 7 .9 8 .1 8 .1 8 .4 8 .6 8 .9 8 .7 8.8 8.6 8 .7 8 .8 9 .1 9 .4 9 .5 4 —8 0 7 .6 7 .8 8.0 8 .1 8 .3 8 .4 8.6 8.8 9 .1 8 .9 9 .0 9 .0 9 .0 9 .2 9 .5 9 .9 1 0 .0 10 .2 11.2 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 > 12. 16 1 *1 7 1 6 4 .2 3 7 .8 1 6 7 *4 7 1 7 1 .2 3 1 7 5 .2 8 9 .2 1 7 9 .1 8 1 8 3 .9 8 P INITIAL QUARTER ♦REVISED FROM 1947» P- P R E L I M I N A R Y PREPA RED 6 Y FED ERA L R E S E R V E 8 A W OF S T • L O U IS 14 FtRJONAL C C W S U M P I I U M IMPfNOITURfS IN C W H M N T D O L L A R S * ----------- £ « * Q U N D B > A— U A L R A T E S O F C H A W M _____________________ ____ ___________________ BILLIONS OF QUARTER ANNUAL 3-76 4-76 1-77 2-77 3-77 4-77 1-70 2-79 3-7« 4-7« 1-79 3-79 2-79 4-79 1-00 2-60 RATES 3-00 7.6 1 067*2 3-76 9*1 14.5 4-74 10*3 11.7 12.9 1-77 11.1 12.3 13.1 1 094*2 1 127-9 13.4 1 163*9 2-77 10.4 11.2 11.4 10-6 7.9 3-77 10.5 11.1 11,3 10.7 f .4 1*.* W 7 10*4 U a 1U+ 11*2 10*5 11.• 1 104*2 1 217*4 1 254*5 12*0 I-?« W t 5 10*9 4 M 1#*5 *** I Q *5 10*3 7.0 2-7* 11*2 11*6 11*9 11*6 11*3 12*1 12*5 12*4 17*2 3-7« 11*3 11*7 11*9 11*7 11*5 12.2 12*5 12*4 14.0 12.5 12*1 11*9 12.6 12*9 12.9 14*7 13*4 14*3 w e 11*6 12*0 12*2 I 279*3 1 330*1 \ 369*9 I 416*6 1 454.1 1-79 11*5 11.9 12.0 12.0 11.8 12.3 12.6 12.5 13.0 12.* 12.7 11.0 2-79 11.2 11.5 11.6 11.4 11.2 11.6 11.7 11.5 12.3 11.1 10.7 0.9 6.7 3-79 11.4 11.7 11.6 11.7 11.5 11.9 12.1 12.0 12.7 n a 11.6 10.7 10.6 4-ff l i a 11-* 12-A 11-* 11-« 12-1 12-4 1 2 a 13.0 12a 12-2 11.7 11.9 1 4 a 14.7 i-«o 11-7 12.0 12-1 12.0 11-9 1 2 ^ 12.4 12.4 13.0 12.4 12 a 11.9 12.2 14.0 13.6 12.9 1-#© ie.9 11.1 11*2 11*0 1#.9 11*1 11.1 11*0 11*3 ioa 10*3 9*7 9*4 10*1 a *6 5*7 3— B O ;u.; 11*3 11.4 11.2 11.1 1 1 ^ 11.4 11.3 11.6 11.0 10.0 10 a 10.2 10*9 10*0 0.5 6.4 1 4 a 4-60 11.3 11*5 11.6 11*5 11*4 11.6 11*7 11*6 12.0 1 1 .5 11*3 11*0 11*0 11*7 11*1 10.2 9*4 15*0 15*6 1-76 2-76 3-76 4-76 1-77 2-77 3— 7 7 4-77 1-70 2-70 3-70 4-76 1-79 2-79 3-79 4-79 1-00 2-60 3-00 1 0 2-*4 2-76 * 3 1-76 1 529.1 14*6 1 502.3 1 631*0 1 626.0 -1*0 1 662.2 1 744 .4P INITIAL QUARTE* «KEYISEP fftPff I9±lf _ _ P- PR£LININARY ___________________ P E R S O N A L C O N S U M P T I O N E X P E N O I T W E S IN 1 9 7 2 D O L L A R S * ___________ C O N P O U N P I D A N N U A L R A T E ! O F C H A N S C _______________ ___________________ BILLIONS OF T E R M I N A L _______________________________________________________________________ m i l it o W A f t lfeft______________________________________________________________________ m i»*? ANNUAL RATES QUARTER 1 9 0 3 0 0 1-70 2-76 2-60 3-77 3-76 4-79 1-79 2-79 4-79 3-79 1-76 2-76 3-76 4-76 1-77 2-77 4-77 2-76 3*5 3— 7 6 4*1 917*7 4.7 927*1 939.4 4-76 4.0 5.4 6.1 1-77 5.1 5 a 6.1 6.1 2-77 4.5 4 .7 4.7 4.0 1.9 3-77 4.5 4*7 4.0 4.3 3.4 951.9 •56*0 966*4 4.9 991*3 4-77 4*9 5.1 5.2 5*0 4*6 6*0 7.1 1-76 4*4 4.6 4.5 4.2 3.0 4 a 4.1 1*3 2-76 4*6 4*9 5*0 4*9 4*5 5*2 5*3 4*4 7*7 3-76 4.0 5*2 4*5 6*2 4*9 5*0 4*® 4 a 5*1 994*1 900*4 911.2 4 a 4-76 4*9 5.0 5*0 4*9 4*7 5.2 5*2 4*6 6*0 5.1 5*5 1-79 4.5 4.6 4-6 4.4 4.2 4a 4.5 4 a 4.7 3.7 3*2 0*9 2-79 4.1 4-1 4.1 3.9 3.6 3.0 3.7 3.1 3.5 2.5 1.7 -0.1 -1*2 3-79 4.1 4.2 4.1 3.9 3.7 3 .9 3.6 3.3 3.7 2.9 2t4 1.4 1*7 4*7 4-79 4.1 4.1 4*1 3.9 3.7 3 .9 3.6 3.4 3.7 3.0 2*7 2*0 2*3 4*1 3.6 1-00 3.9 3.9 3.6 3.7 3*5 3.6 3*5 3.1 3.3 2.7 2*3 1*7 1*9 3*0 2*2 2-00 3.0 3.0 2.9 2.6 2.4 2.4 2.2 1*7 1.6 1.0 0*5 -0.3 -0*5 -0.4 -2*0 -4*7 -9*9 3-00 3.1 3.1 3.0 2.0 2 a 2a 2a 2.0 2.1 1.5 1*1 0*5 0*4 0*7 -0*3 -1*5 -2*7 5*1 4-00 3.2 3.2 3.1 3.0 2 .7 2a 2a 2.3 2a 1*9 1*5 1 *1 1*1 It? Q«1 -9*1 5*2 5*3 1-76 2-76 3-76 4-76 1-77 2-77 3-77 2— 79 3-76 4-79 1-79 2-79 4-79 1-90 2-00 3-00 ♦REVISED FROM m T , p- p r e l i m i n a r y _ 4-77 1-70 923a 925 a 922*9 933.4 3-79 941*4 0*9 943*4 919*3 93Q.9 INITIAL Q U A R T » __ ____________________________ ________________________________________________________________ PREPARE© »Y J A N U A R Y 2 1. 15 FEDERAL REfCRVt BAt* OF lfil 9 4 3 .OP _ ST. - _ LOUIS GROSS P R IV A T E OOHCST1C INVESTMENT IN CURRENT 0 0 L L A R S * ______________CflttgP M P C P ANNUAL RATES O f CHANGE_______ _________ T ERM IH A L QUARTER B I L L I O N S OF DO LLARS ANNUAL R A T ES __________________________ I N I T I A L QUARTER______________________________ 1-74 2-7^„3-76l 4 - 7 ^ ^1-77 2-77 3-77 4-77 1-78 2 -7* H > 4-76 1-79 2-79 3-79 4-7» 1-80 2-«0 3-«0 2-76__ 1fril. i M t ? _ft*2___¡L*<Q_ 5 -7 6 Jtr7fr - 259*6 _ Ä a A ____ ________ ft^L. - I r l i ___ 20*1 .2*4*7 21*4. 32*3 62*4 J « tl. 2-77 21*9 23.4 31«? 45.0 29*4 3-77 22.0 23.2 29.2 37.1 25.9 22*5 4-77 19.9 19.2 23.0 27.0 17.0 11*3 319.7 335*3 336.2 1.1 1-79 19.7 19.1 22.2 25*2 17.4 13*6 9.4 18*4 2-78 20.4 20*9 23.9 26.7 20*6 18*5 17*2 26*2 34*5 3-79 19*5 19*8 21*1 23*0 17*5 15*2 13*5 17,9 17*7 4-79 19*0 19*2 20*2 21*9 16*9 14*9 13.5 16*9 16.2 8.0 13*5 1-79 18*0 18*1 19*9 21*2 16*9 15*2 14*0 16.8 16*4 10.9 15.2 17.0 2-79 17*9 17.9 19*4 20*6 16.7 19*2 14.2 16*6 16.2 12.0 15.3 16*2 3-79 16*3 16*3 17*6 18*5 14.8 13*3 12.1 13.8 13.1 9.2 10*9 10*0 6 .7 -1*4 4-79 14*2 14.1 15*1 15.7 12.2 10*6 9.4 10.4 9.3 5*6 6*2 4*4 0*6 —6*1 -10*6 1-60 13*7 13*5 14*4 14.9 11*6 10*1 9.0 9.9 9.9 5.6 6*1 4*7 1*8 -2*4 -2*9 5*6 2-80 11.2 10*9 11.5 11*8 8*6 7*0 5.7 6*2 4*9 1*7 1*6 -0*3 -3.4 -7.6 -9.6 -9.1 350*7 377*7 2* 9 380*4 392*6 408.3 1 5 *4 423*2 421.7 410.0 415.6 -21.7 390*9 3-80 9*7 9*3 9*8 9*9 6*9 5*3 4*0 4*3 2*9 —0.1 -0.4 -2.3 -5.2 -8.8 -10.6 -10.6 4-80 10.7 10*4 10*9 11*1 8*4 7*0 5*9 6.3 5*3 2*7 2.7 1.4 -0.6 -3.1 -3.4 -1.5 -3*8 6.7 31.3 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-79 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 2-60 B I L L I O N S OF DOLLARS ANNUAL RATES 3-80 -17.7 -13.4 377.1 403.7P INITIAL QUARTER - « t t E v u e p pficm 1 9 * 7 » p- PRELIMINARY G R O S S P R I V A T E D O M E S T I C I N V E S T M E N T IN 1 9 7 2 D O L L A R S * ____________ C O M P O U N D E D A H N U A L R A T E S O f C H A N G E ______________ QUARTER 1-76 2-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-79 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 9.8 195*7 3-76 3.6 4-76 3.6 -2*3 0.6 3.7 1-77 12*1 12*9 21*3 41*9 2-77 14*0 15*1 21*6 31*6 22*1 3— 77 13*9 14*9 19.5 25.3 17.7 4-77 10*6 10*8 13*6 16*2 8*7 2*6 -7*2 1-79 11*3 11*6 14*1 16*3 10.6 7.0 3*9 16*4 2-79 11*7 12.0 14*2 16.0 11.5 9.0 7*5 15.7 3-79 9*8 9*9 4 — 79 9.3 9fl_ 11*5 186.3 203*3 213.7 220.6 13*6 216.5 224.9 15.0 232.9 229*3 12.6 8.4 5.8 3.9 8*0 4.0 — 6.0 11*5 7*8 5*6 4.0 7f 1 4fA —0*9 231+8 4 t4 _2*±___9*4 10*6 11.4__ ft*l___ÌL ii__ L tl___Irfi-- 2L*I-- ¿ifi-- 7t.S— IQt-fe_2r_I9 _ft*S____ 4 ^ 7 ____ 9tff 3-79 JLt± ____ l±i____ 8 * 0 237.7 _ ^ 7 ____4 * 9 ____ 2 j £ ____ 5 * 5 ____ 6 * 0 ____ L t 2 _ Ifl^*____ I * * ____ L t l _ 8 t 4 ____ £±5____ 2 ^ » ____ U l ____ * • * ____ 2 t 3 - O t J ____ L±4____ 9 * 5 _ 232*6 *-79 5*5 5*2 5*8 5.9 3*2 1*4 0*2 1*1 -0*9 -3*3 - 2 * 7 ___z±t±___~ 9 * Q - 1 3 * ? ~ 1 7 * g 221*S_ 1-60 4*7 4*4 4*9 5*0 2*4 0*8 -0*4 0*4 -1*5 -3*6 - 3 ^ 2 ___- 4 « ! ___- 8 » 2 - 1 1 * 2 - l l t 9 219*3- - ? t l ._ . 2*4 1*9 2.2 2*1 -0*4 -2*1 -3*4 -3*0 - 5 * 0 __ - 7 * 2 ___- 7 * 4 __ - 9 * 2 - 1 2 * 7 - 1 6 * 0 . - 1 8 * 0 - 1 8 * 1 3-80 . -L mI ____ 1 .2 1 .4 1 *3 - 1 *1 - 2 .7 - 4 *0 - 3 .7 - 5 *5 - 7 .1 - 7 *7 - 9 *3 - 1 2 .3 - 1 4 .Æ .- 1 6 . Q - 1 5 *5 ~2Q«Q -1Q .Q 4-90 _2t_3____ 2 *1 2*4 2 *3 0*1 -1*3 - 2 *4 - 2 *0 -3*5 -9*2 - 5 *1 - »*2 . -8*4 -1 0 *0-10 *0 - 7 *9 -»*7 3 *4 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-79 3-78 4-78 1-79 4-7 9 1-80 2-80 -JL^O 1-76 2-76 2-79 3-79 20Q*5_ -20*8 195*3 18* 2&±fJL 3-80 I N I T I A L QUARTER ♦ R EV ISED FROM 1 9 4 7 . P - P R E L IM IN A R Y PREPA RED BY F ED ER A L R E S E R V E BANK O F S T * L O U IS JA N U ARY 21« 1981 16 GOVERNMENT PURCHASES OF GOODS AND SERVICES IN CURRENT DOLLARS* ____________ CONFOUNDED ANNUAL RATES Of CHANGE________________ ANNUAL RATES QUARTER 1-76 2-76 3-76 4-76 1-77 1*2 3-76 3.3 5 .4 4-76 5.0 7 .0 8.6 1-77 6,1 7 .7 8.9 9 .2 2-77 7*5 9 .2 10.5 U .4 13.8 10.0 10.5 7.5 2-77 3-77 4-77 1-78 2-7B 3-78 4-78 _ 1-79 2-79 3-79 4-79 1-80 2-80 3-80 35$*1 2-76 3-77 BILLIONS OF 8.8 362*9 9 .7 370.4 378*6 391.0 7 .2 397*9 410*4 4-77 8.3 9.5 10.4 10.8 11.4 10.2 1-78 7.9 8 .9 9 .5 9 .7 9.8 8 .5 9*1 5 .3 2-78 8.1 9 .0 9.5 9 .6 9 .7 8 .7 9 .2 7 .3 9 .4 3-78 8.6 9 .4 9 .9 10.1 10.3 9*6 10*2 9 .2 11.2 13.0 13.2 415.7 425*1 438.3 4-78 8.9 9 .7 10.2 1 0 .4 10.6 10.0 10.6 10.0 11.6 12.7 12.4 1-79 8.7 9 .4 9 .8 9 .9 10.0 9 .5 9 .9 9 .2 10.2 10.5 9.3 6.3 2-79 8.5 9.1 9 .5 9 .5 9 .6 9 .1 9 .3 8 .7 9 .4 9.4 8.2 6.2 3-79 8.5 9.1 9.4 9 .5 9.5 9 .1 9 .3 8 .8 9 .4 9.4 8.5 7.2 7.6 9 .2 4-79 9 .2 9 .8 10.1 10.3 10.4 10 .0 10.3 10.0 10.7 10.9 10.5 10.0 11*3 13 .9 4 465.1 6 .2 475,4 . 496.4 18.9 1-80 9.7 10.3 10.6 10.8 10.9 10.7 il.O 10.8 11.5 11*8 11.6 11.5 12*8 15.1 18.2 17.5 2-80 9 .7 10.3 10.6 10.8 10.9 10.7 11.0 10.8 11.4 11.7 11.5 11.3 12.4 14 .0 15.6 14.0 1 0 .6 3-80 9 .3 9.8 10.1 10.2 10.3 10.0 10.3 10.0 10.5 10.6 10.3 10.0 10*7 11.6 12.2 10.1 6 .6 2 .7 4-eo 9-9 10.4 10.7 10.8 10.9 10.7 11.0 10.8 11.4 11.6 11.4 11.3 12*0 1 3 .0 13.8 12.6 11.0 11.2 2 0 .4 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-60 3-80 IN IT IA L P- >U> 458.2 520.0 52d«5 5 5 8 .BP Q UARTER Y J S E P_ F R Q t t _ l 9 4 7_t P R E L IM IN A R Y GO VERN M EN T P U R C H A S E S ___________________C O H P O U H O E O O F GO O O S AND S E R V I C E S I N 1 9 7 2 D O L L A R S * A N N U A L R A T E S O F C H A N G E ______________________________ B IL L IO N S ANNUAL 1-76 2-76 2-76 -3.1 3-76 -1 .9 -0 .6 4-76 -1.1 -0 .2 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3—BO 0.3 266.2 1-77 0*0 1.1 1.9 3 .5 0.9 1.9 2 .7 3 .9 4 .4 3-77 It? 2.2 2.9 3 .8 3 .9 3 .4 4-77 1.5 2.3 2.9 3 .6 3 .6 3 .2 3 .0 268.5 271.4 273.7 275.7 1-78 If l 1.7 2.1 2 .5 2 ,3 1 .6 0 .7 -1 .6 2-78 It? 1.8 2.2 2 .5 2*3 1,8 1,3 0*4 2,5 3-78 1.7 2.2 2 .6 2 .9 2.8 2*5 2*3 2.1 4 .0 5.5 4-78 1.5 2 .0 2.3 2 .6 2.4 2*1 1.9 1.6 2.7 2.8 0.1 1.9 2.2 2 .4 2 .2 1.9 1.7 1.4 2 .2 2.1 0 .4 _ 0.7 1 .7 1.9 2 .1 1.9 1 .6 1 .4 1.1 1.7 1 .4 0.1 0.1 -0 .4 1.6 1.3 0.5 0,4 1,1 274.6 276.3 280.0 280.1 280.6 2-79 1*3 3-79 1.3 1.7 1.9 2 .0 1.9 1.1 1.6 1.4 0 .4 4-79 1.6 2 .0 2.2 2 .3 2.2 2 .0 1.9 1.7 2.2 2.2 1.5 1.9 2.2 3 .6 6*1 l- e o 2.0 2 .3 2.5 2 .7 2 .6 2 .5 2.4 2 .3 2.8 2.8 2.4 2.8 3.4 4 .7 $♦5 6*9 2 -eo 2 .0 2.3 2.5 2 .7 2 .6 2 .5 2 .4 2 .3 2.8 2.8 2 .4 2.8 3*2 4*1 5*2 4*7 2 .5 2 .2 280.3 281.1 285.3 290.1 2 91.9 3-80 1.6 1.9 2.0 2-1 2-0 1 .9 1 .7 1 -6 2-0 1 .9 1 .5 1.6 1.8 2 .5 1 .4 - 1 .3 - 5 .0 4-80 1.6 1 .9 2.1 2 .2 2.1 1 .9 1.8 1.7 2.0 2*0 1.6 1.8 1*9 2..3 _ ¿*6 1*7 0 .0 -1*2 2 .8 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2—78 3-78 4-78 1-79 2-79 3 —7 9 4-79 1-BO 2-80 3-80 1-76 2-76 IN IT IA L ♦ R E V IS E D P R E L IM IN A R Y RATES 266.4 2-77 1-29 OF INITIAL W A K T E 3 T 6 * H | N A t _______________ Q UARTER 288-2 2 9 0 .2 P Q UARTER 1947. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JANUARY 21. 1981 17 . DISPOSABLE PERSONAL INCONE IN CURRENT DOLLARS* CQMpQUMDCO ANNUAL RATES QF CHANGE_______ BILLIONS Of T EEM IN G __________________________________________________________________IN IT IA L QUARTER_____________ __________________________________________________ DOLLARS QUARTER ANNUAL RATES X - 7 6 _ 2-1* 3-76 4- 7» 1-77 2-77 3-77 4-77 1-7? 2 - T !_ 1-79 2-79 3-79 4-79 1-00 2-60 3-00 25 H 0 2 -7* .* .0 3-76 * .9 7 .0 - -- _ 1 »203.3 4—76 7 .6 8.4 9 .0 1.229-6 1-77 7 .9 8.5 8.8 9t* 2-77 6 .7 9 .3 9 .8 10 2 11.9 ?t4 lQ t l 10.7 11 ? 12.6 13.4 4-77 9 .7 10.3 10.8 U 2 12.1 12 .3 11 2 1-78 9 .6 10.1 10.5 10 0 11.4 11 .2 10 1 2-78 10.0 10.5 10.8 11 1 11.7 11.6 U 9 10 .9 12.8 *-7$ 10*2 10.6 11.0 U 3 11.7 1 1 .7 u 3 1 1 .3 1 2 .4 4-78 1 0 *5 1 0 .9 1 1 .3 11 * 12.0 12.0 11 8 1 1 .9 1 2 .9 1 2 .9 1 3 .9 .1 t 7 ? 1 0 .7 11.2 1 1 .5 11 0 12. 2 12.2 12 1 12.2 1 3 .0 1 3 .1 1 3 .7 1 3 .5 2-79 10 .6 11.0 11.2 11 5 1 1 .8 11.8 11 ? 11.6 12.1 1 1 .9 1 1 .9 11.0 8 .5 3-79 10.8 11.1 1 1 .4 11 * 1 1 .9 1 1 .9 11 8 11.8 1 2 .3 1 2. 2 1 2 .3 1 1 .7 10.8 1 3 .3 4-7? 10 .8 11.2 1 1 .4 11 * 1 1 .9 1 1 .9 11 7 11.8 1 2 .2 12.1 12.1 1 1 .7 11.1 1 2 .4 11.6 1-00 11.0 1 1 .3 11.6 U 8 12.0 12.0 11 ? 12.0 1 2 .4 1 2 .3 1 2 .4 12.1 1 1 .7 12.0 1 2 .5 1 3 .5 2- e o 1 0 .6 1 0 .9 11.1 11 2 1 1 .4 1 1 .4 11 2 11.2 1 1 .4 1 1 .3 11.2 1 0 .7 10.2 1 0 .6 9 .8 8.8 11.2 11 1 0 .7 11.1 10.6 1 0 .3 8 .7 1 3 .3 11 11 __11*1_. 11*-? 11*2 11.1 1 0 .2 1 3 .3 1 3 .3 3-79 4-79 1-8 2-60 3-80 3-77 . _ 1 .1 0 0.0 3-80 1 0 .7 11.0 4-60 1 0 .9 JU L 1-76 2-76 *3 3-76 1 .2 5 5 .2 1 .2 9 1 .0 1.3 3 2.1 1*367.0 9.1 I f 396.0 1 .4 4 0 .7 12*0 1 *4 8 2 *1 11.6 1 1 .5 11 1 1 .4 11.6 1 1 .5 1 1 .4 11.1 5 1 1 .7 1 1 .7 11 5 11.6 11.6 1 1 .7 lit * 1 1 .4 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-70 1 .5 6 0 .3 1-79 2-79 1 .6 6 3 .0 1 .7 1 0 .1 ^ 0 1 .8 4 0 .6 1 t0 ? ? » lP IN IT IA L QUARTER R E V IS E D FROM 1 9 4 7 . P- PRELIM INARY DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS* COMPOUNDED ANNUAL RATES Of CHANGE________ TERMINAL QUARTER 1-76 2-7* B IL L IO N S OF DOLLARS ANNUAL R A T iS IN IT IA L QUARTER 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-70 3-78 4-76 1-79 2-79 3-79 4-79 1-00 2-60 3-60 2.0 9 0 4 *7 ?Q ?t? 3-7* 2 tl 2 .1 4-76 2 .2 2 .3 2 .5 1-77 2.0 2 .1 2.0 2-77 2.8 3 .0 3 .3 3 .6 5 .7 3-77 3 .5 3 .8 4 .2 4 .8 6 .5 7 .3 4-77 3 .8 4 .1 4 .5 5 .0 * .2 6 .4 5 .5 1-78 3 .6 3 .9 4 .2 4 .5 5 .2 5 .1 4 .0 2 .5 2-78 3 .6 3 .8 4 .1 4 *4 4 .9 4 .7 3 .9 3 .1 3 .6 3-78 3 .7 3 .9 4 .1 4 .4 4 .8 4 .6 4 .0 3 .5 4 .0 4 .3 4-78 3 .8 4 .0 4 .2 4 .4 4 .8 4 .7 4 .2 3 .9 4 .3 4 .7 5 *0 9 9 6 .0 4 .0 4 .1 4 .1 1 .0 0 5 .7 9 1 5 .1 1.6 9 1 6 .7 9 3 1 .* 9 4 6 .1 ?W t9 9 6 6 .6 9 7 5 .5 9 8 5 .9 1-79 3 .8 3 .9 4 .1 4 .3 4 .6 4 .5 4 .0 3 .7 2-79 3 .5 3 .6 3 .8 3 .9 4 .2 4 .0 3 .5 3 ,2 3 .3 3 ,2 2 .9 1.0 0 .5 3-79 3 .5 3 .6 3 .7 3 .9 4 .1 3 .9 3 .5 3 .2 3 .3 3 .3 3 .0 2 .4 2.0 3 .5 4 —7 9 3 .3 3 .4 3 .5 3 .6 3 .8 3 .6 3 .2 2 .9 3 .0 2 .9 2. * 2.0 1.* 2.2 3 .1 1 .0 0 6 .9 1-80 3 .2 3 .3 3 .4 3 .4 3 .6 3 .4 3 .0 2 .7 2.8 2.6 2 .4 1.8 1 .5 1 .9 2-00 2 .7 2 .7 2.8 2 .8 2 .9 2 .7 2 .3 1 .9 1 .9 1 .7 1 .3 0 .7 0.2 0 .1 3-80 2.8 2.8 2 .9 2 .9 3 .0 2.0 2 .4 2 .1 2 .1 1 .9 1 .6 1 .2 0.8 1.8 1 .4 1 *2 3-78 4-70 4-80 2.8 2.8 2 .9 2 .9 3 .0 2 .8 2 .5 2.2 2*2 2 .1 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 1-79 1 .0 1 5 ,7 0.8 1 .0 1 7 .7 1 . 021.0 WO 1 .3 1 .0 -1 *9 - 4 .9 0 .9 0 .3 0 .1 - 0 .5 4 .1 1 .3 0 .9 0 .9 0 .7 3 .7 3 .2 2-79 3-79 4-79 2-60 3-80 - 1-0 0 1 .0 0 6 .2 1 .0 1 6 .5 1 .0 2 6 .6 P IN IT IA L QUARTER FROM J j ? 4 P- PRELIMINARY 7 t. PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JANUARY 21« 1961 18 CORPORATE PRO FITS AFTER TAXES » COHPOUHPEO ANNUAL RATES OF CHANGE _ _ _ _ _ ___________________ B IL L IO N S OF JLE R H I N Aj._______________ _________________ _____ _________________________________ I N I T I A L Q U A R T E R _______________________________________________________________________ P Q V k A & S ____ QUARTER ANNUAL RATES 4-75 — 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 190*7 25.2 2-76 15.5 6 .5 3-76 11.8 5.6 1 0 ?f3 _ 4.8 103.5 4-76 8 .6 3*6 2*2 -0*4 _ J- 7 7 15+6 13*3 15*7 2 1 .5 2-77 15*8 14*0 15*9 19*9 31.6 16*7 3-77 15 »9 14*5 16.1 19.1 26.5 16 *8 16.8 4-77 14.1 12.6 13.7 15 .6 19.9 11 .7 9 .3 2 .3 13*7 16*7 9 .9 7 .7 3*4 103.4 40.3 114*1 118*6 123*3 124*0 125*4 X-78 13.0 11,6 12*3 2-78 15.7 14.7 15.8 17.5 20.8 1 5 .9 15.7 15*3 22.4 43.3 3-78 15.9 15*0 16.0 17.5 20.3 16.2 16.1 15*9 20*8 29.9 17*7 20.6 25.6 33.6 29*0 4-78 17.8 17.2 18.3 19*9 22.8 19.5 19.9 4 .6 137.2 142*9 155.8 41*3 164*6 1-7? 18.3 17*8 18.9 2 0 .4 23*0 20 .1 20.6 21.2 25.4 31*3 27.5 32*7 24*6 2-79 16.9 16*3 17*2 18 .4 20.4 17.7 17.8 17.9 20.8 24*3 20.0 20.7 11*6 0*0 3-79 17*4 16.8 17.7 18.8 20.7 1 8 .3 18.5 18*7 21.2 24.2 20.7 21.5 15.5 11*2 4-79 15.3 14.7 15.3 16.1 17.6 15.2 15.0 14.8 16.5 18.3 14.5 13.9 8*0 2*9 1-80 16.6 16.1 16.8 17.7 19.2 1 7 .0 17.1 17.1 18.9 20.8 17.9 17.9 13.7 11*1 2-80 10.1 9 .2 9 .4 9 .7 10.5 8 .0 7 .3 6 .5 6 .9 7.2 3.3 1.4 -4 .0 - e .* j -1 1 .0 -2 0 .3 -2 4 .1 -58.8 3-80 11.4 10.7 11.0 11.3 12.2 10.0 9 .5 8 .9 9.5 10.0 6*8 5*5 1.2 - 2 .2 -2*7 -8*4 - 7 .1 -24.3 39*1 4-75 1-76 2-76 3-76 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 2-80 164.6 173*6 2 3 .7 4*4 -11*9 15*1 11*0 39*8 182*9 146.5 159.1 N.A. 4-80 » NATIONAL INCOME B A S IS - REVISED FROM 1-M7. 1-80 IN IT IA L QUARTER ________________________ N.A.- NOT AVAILABLE PREPARED BT FEDERAL RESERV E BA**. OF S T . LO UIS JANUARY 21. 1981 SOURCES OF DATA NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The Decem ber 1980 S u r v e y o f C u r r e n t B u s in e s s w i l l c o n t a i n an a r t i c l e d e s c r i b i n g t h e m a jo r a s p e c t s o f t h e r e v i s i o n , summary a n n u a l e s t im a t e s f o r 1978 and 1979, q u a r t e r l y e s t im a t e s f o r r e c e n t q u a r t e r s , and m o n th ly e s t im a t e s f o r O c to b e r 1979 th ro u g h Novem ber 1980. N a t io n a l Incom e and P r o d u c t T a b l e s , 1976-79, a s p e c i a l su p p le m e n t t o th e Decem ber is s u e o f t h e S u r v e y , w iT I c o n t a i n e s t im a t e s f o r 1976-79 f o r th e f u l l s e t o f a n n u a l and s e a s o n a l l y a d ju s t e d q u a r t e r l y and m o n th ly n a t io n a l incom e and p r o d u c t ( N I P A ) t a b l e s . N a t io n a l Incom e and P r o d u c t A c c o u n ts o f t h e U n it e d S t a t e s , 1929-76: S t a t i s t i c a l T a b le s w i l l c o n t a i n a l l e s t im a t e s c o v e r in g e a r l i e r y e a r s . T h is p u b l i c a t i o n i s e x p e c te d t o be a v a i l a b l e f o r p u rc h a s e fro m t h e S u p e r in t e n d e n t o f Docum ents in M arch 1981. F o r f u r t h e r in f o r m a t io n , w r i t e to th e N a t io n a l Incom e and W e a lt h D i v i s i o n (B E - 5 4 ) B u re a u o f E co n o m ic A n a l y s i s , U . S . D e p a rtm en t o f Com m erce, W a s h in g t o n , D .C . 20230. T h e S u r v e y i s a v a i l a b l e fro m m o st d i s t r i c t o f f i c e s o f t h e D e p a rtm e n t o f Com m erce o r fro m th e S u p e r in t e n d e n t o f D o cu m e n ts, U .S . G o ve rn m e n t P r i n t i n g O f f i c e , W a s h in g t o n , D .C . 2 0 4 0 2 . 19 INVENTORIES COMPARED WI T H MANUF ACT UR I NG AND MONTHLY SALES* TRADE . 72 .6 8 . 64 . 60 . 56 . 52 . 48 . 44 . 40 . 36 * RAT I OS BASED SHADED At f EAS LATEST DATA ON S E A S O N A L L Y REPRESENT PLOTTED: ADJ USTED PERIODS NOVEMBER OF DATA. BUSIN ESS SOURCE: U . S . DE P ARTMENT Of COMMERCE RECESSIONS. PRELIMIN/LRY PREPARED BY F E D E R A L R E S E RV E BANK OF S T . 20 LOUI S
@FedFRASER