Full text of National Economic Trends : July 1982
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nm ionoL economic treijds PREPARED BY FEDERAL RESERVE B A N K OF ST. LOUIS MONTH ENDING: June 30, 1982 RELEASED: July 30, 1982 The nation's output o f goods and services (GNP in 1972 dollars) rose slightly in the second quarter, and prices continued to rise at a moderate pace, according to preliminary data released by the U.S. Department of Commerce. Real GNP is reported to have advanced at a 1.7 percent annual rate in the second quarter, after declining at a 5.2 percent rate over the previous two quarters. The GNP deflator increased at a 4.8 percent rate over the past two quarters, compared with 8.9 percent during the previous year. The second quarter rise in real GNP was a considerable improvement, but an examination o f its components reveals that a strong recovery is not yet under way. The increase in real GNP was reflected primarily in a slowing in the rate o f inventory reduction. Real personal consumption expenditures and residential investment rose slightly, while nonresidential fixed investment, net exports, and government purchases declined. The Department o f Commerce also released revised data for the national income accounts for recent years. These data indicate that real growth was little changed for the 1977-81 period, although the current recession appears to be more severe than was first reported. A few components o f real GNP were revised substantially. Price change over the 1977-81 period was revised upward by 0.2 percent. REVISIONS OF N A T IO N A L INCOME AN D PRODUCT ACCOUNTS (compounded annual rates o f change) III/1981 -1/1982 Previously Revised Published 11.2% 11.1% 6.6 8.7 8.5 -4.1 0.5 -30.7 -1.1 -19.1 2.3 2.3 1.3 5.2 -7.3 2.4 2.6 0.2 3.7 -7.1 GNP in current dollars 1.0% 2.3% Implicit price deflator 6.5 -5.2 -0.5 -29.9 -2.2 -17.8 G NP in 1972 dollars Personal consumption expenditures Gross private domestic investment Nonresidential fixed Residential fixed Government purchases o f goods and services Federal State and local Net exports Exports Imports N .A. - not applicable 2.0 6.8 -0.9 N.A. -7.6 -6.6 1977-1981 Previously Revised Published 5.1 15.3 -1.1 N.A. -9.7 -6.9 1.6 2.4 1.2 N.A. 8.9 6.4 1.7 2.6 1.2 N.A. 9.1 9.5 total c iv ilia n employment COMPOUNDED ANNUAL RATES-Qf CHAN&E TERMINAL MONTH 11-80 12-80 12-80 1.2 THOUSANDS OF PERSONS I N I T IA L MONTH 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-81 9—81 10-81 11-81 12-81 1-82 2-82 3-82 4-8 2 5-82 99, 632 l-e i 2.2 3 .3 2-8 1 2.2 2 .7 2.0 3-81 2 .7 3.1 3.1 4.1 3 .3 3.8 4 .0 4. 9 * 221 99 100.069 100,406 100,878 5 .8 5-81 3. 1 3 .4 3.5 4 .0 3 .9 2.0 6- 8 1 1.5 1.6 1.3 1.1 0.1 - 2.6 -7.1 7-81 2.0 2.1 1.9 1.9 1.4 - 0.1 - 1.1 101,045 100,430 100 » 864 5 .3 8-81 1.8 1 .8 1.6 1.5 1.0 -0.1 - 0.8 2.5 -0 .3 9-81 0.9 0. 8 0.5 0 .3 -0.3 -1.5 -2.3 -0.7 “ 3 .6 -6.7 10-81 0.9 0 .9 0 .4 - 0.1 - 1.1 -1 .7 -0.3 - 2.1 -2.9 0.6 100,840 100,258 100,343 1.0 100,172 11-81 0.6 0.6 0.3 0.1 -0.3 - 1.2 -1 .7 - 0.6 - 2.0 - 2. 6 -0.5 - 2.0 12-61 0.1 - 0.0 -0 .3 -0.5 - 1.1 -1 .9 -2 .4 - 1.6 -3.0 -3.6 -2.5 -4.3 -6.5 1-82 0.0 - 0.0 -0.3 -0 .5 - 1.0 -1.7 - 2.2 -1.4 -2.5 -3.0 - 2.0 -3 .0 -3 .5 -0.4 2-82 0.0 - 0. 0 -0.3 -0.5 -0.9 -1.5 -1.9 -1 .3 - 2.2 -2.5 - 1.6 - 2.2 -2.3 - 0.1 0.1 3-82 - 0.0 - 0.1 -0.4 -0.5 -0.9 -1.5 - 1.8 - 1.2 - 2.0 -2.3 -1.5 - 2.0 - 2.0 -0.5 -0.5 - 1.2 4—8 2 - 0. 1 - 0.2 —0 . 4 —0 . 6 - 1.0 -1.5 - 1.8 -1.3 - 2. 0 - 2.2 - 1.6 - 2.0 - 2.0 - 0.8 - 1.0 -1*5 5-82 0 .4 0 .3 0.2 0. 0 - 0.2 -0.7 -0.9 -0 .3 -0.9 - 1.0 - 0.2 -0 .4 - 0.1 1.2 1.6 2*1 3 .8 . 9*9 6 -62 0.1 0*1 - 0.1 - 0.2 -0.5 -0.9 - 1.2 -0 .7 - 1*2 -1 .3 -0.7 -0 .9 -0.7 0.3 0.4 0 .5 1.1 2.6 -4.1 11-80 12-80 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-81 9-81 10-81 11-81 12-81 1-82 2-82 3-82 4-82 5-82 99,61 3 99,581 99,590 99,492 9 9,34 0 - 1.8 1 00 , U 7 99,764 INI T IA L MONTH PAYROLL EMPLOYMENT _______________________________________________________________________CQMPQUNPED ANNUAL RATfcS QF CHANGE________________________________________________________________________ .TERMINAL_______________________ _________________________________________________ I N IT IA L MONTH___________________________________________________________________________THOUSANDS MONTH OF PERSONS 11-80 1 2 - fìfì 1-81 2- a i 3—81 4-81 5-81 6-81 7-81 8-81 9-81 10-81 11-81 12-81 1-82 2-82 3-82 4-82 5-82 12-60 2.2 1-81 2 .3 2 2-81 1.6 1 .? 3—ft 1 1 .5 1 .3 0.7 1.3 4 -ei 1 .4 1 .2 0. 8 1.2 1.1 5-ftl 1 .3 Ì .1 0.7 1.0 0 .8 0 .4 6-61 1.4 1.2 1.0 1.2 1.2 1.2 90,725 90.909 0.1 90.913 91, 014 91. 099 91.131 2.1 9 1.2 86 1 .4 1 1. 1 1.3 1.3 1.3 1.8 1.5 1.1 1 •0 0.8 0. 9 0. 8 0 .7 0.8 0.2 - 1.0 1.1 0.9 0. 8 0 .9 0. 8 0.7 0.8 0.3 -0.2 0 .5 0. 8 0 .7 0 .5 0 .5 0 .4 0.3 0.2 - 0.2 - 0.8 —0 . 6 - 1.8 CL*5, 0 .3 0.1 0.1 - 0.0 - 0.2 -0.3 - 0.8 -1 .3 -1.4 -2.4 -3.0 Û. 1 -0 . 1 -0.3 -0.4 -0.5 —0 . 8 -0.9 -1.4 - 2.0 - 2.2 -3. 1 -3.8 -4.6 1-82 ... - 0 . 1 - 0 .3 -0.5 -0.5 -0.7 -0.9 - 1.1 -1.5 - 2. 0 -2.3 -2.9 -3.3 -3.5 -2 .4 - 0.1 - 0 .3 . - 0 . 5 -0 .5 -0.7 - 0.8 - 1 .0 -1.4 - 1.8 -1 .9 -2.4 -2.5 -2 .3 - 1.2 - 0.0 - 0.2 -0.4 - 0.6 —0 . 6 - 0.8 - 1.0 - 1.1 -1 .4 - 1.8 -1.9 -2 .3 -2 .4 -2.3 -1.5 - 1.0 - 2.0 7 —ft 1 9 -6 1 jÆ -a i li-a i . 12-81 1 <N oc ^-6 2 . 91.396 91,322 91,363 91,224 90.996 90.642 90.460 9 0.4 59 90, 304 . 4-8 2 -0*4 -0.5 -0 .7 - 0.8 -0.9 - 1.1 -1.3 - 1.6 -1.9 - 2.0 -2.4 -2.5 - 2 .4 - 1.8 -1 .7 -2.5 -2.9 . ,5-tì2 -0.3 -0.4 - 0.6 -0.7 - 0.8 - 1.0 - 1.1 -1.4 - 1.6 -1.7 - 2.0 - 2.0 - 1.8 -1 .3 - 1.0 -1.4 - 1.0 0 .9 .¿-82 -0.4 - 0 .5 -0.7 -0 .7 -0.9 - 1 .0 - 1.1 -1.4 -1.7 -1.7 - 2.0 - 2. 0 -1 .9 -1.4 - 1.2 -1.5 -1.3 -0.5 -1.9 11-80 1 2 - 80 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-81 9-81 10-81 11-81 12-81 1-82 2-82 3-82 4-8 2 5-82 90. 08 3 9 0 . 151P 90.010P I N I T I A L 110NTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE JULY 2 * 1982 2 BANK i3F ST* LOUIS _ .. EMPLOYMENT RATIO RAT I 0 SCALE MILLIONS OF PERSONS SEASONALLY M I L L I ONS ADJUSTED S O U R C E •. PERCENTAGES ARE LATEST PLOTTED; DATA ANNUAL RATES JUNE OF CHANGE FOR PERIODS U.S.DEPARTMENT SCALE PERSONS OF LABOR ST. LOUIS INDICATED. PRELIMINARY PREPARED BY UNEMPLOYMENT SEASONALLY PERCENT OF FEDERAL RESERVE BANK OF RATE ADJUSTED PERCENT ll.O 10. 0 9.0 8.0 7 .0 6.0 5.0 4 .0 3.0 197 4 1975 1976 197 7 1978 1979 1980 SOURCE: PERCENT LATEST OF DATA CIVILIAN PLOTTED; LABOR U.S. 1981 1982 DEPARTMENT OF LABOR ST. LOUIS FORCE JUNE PREPARED 3 BY FEDERAL RESERVE BANK OF CONSIDER PRICE INDEX FOR A U . URBAN CONSUMERS, SEASONALLY AOJUS TED ________________________ COMPOUNOED ANNUAL RATES OF CHANGE________________________ IN IT IA L MONTH TERMINAL MONTH 1-81 12-80 11-80 3-81 2-81 4-61 5 -e i 6-81 7 -e i 8-81 9-81 10-81 1 1 —6 1 12-81 1-62 2-82 3-62 4-62 5-62 2 5 9 .4 12-80 1 2 .3 1-81 1 1.0 9 .7 2-81 1 1.4 1 0 .9 1 2.1 26 1 .4 2 6 3 .9 2 6 5 .4 3-81 10 .3 9.6 9 .5 7 .0 4-81 9 .2 8.4 8 .0 6 .1 5.1 5-81 9 .3 8.7 8 .5 7.3 7.5 9 .9 6-81 9. 3 8 .8 8 .7 7 .8 8.1 9.6 7-81 10.0 9 .6 9 .6 9 .1 9 .7 11.3 11 .9 1 4 .6 8-81 1 0 .0 9.7 9 .7 9 .3 9.8 11.0 1 1 .3 1 2 .3 1 0 .4 26 6 .5 2 6 8 .6 2 7 0 .6 9 .3 273 .7 10.1 275 .9 278 .9 9-81 1 0.4 10.1 10 .2 9 .9 11 .5 1 2 .0 1 2 .8 12 .0 1 3 .9 10-81 9 .9 9 .7 9 .7 9 .3 9 .7 1 0 .5 1 0.6 10.9 9 .7 9 .5 5 .3 l i - e i 9.6 9 .3 9 .3 9 .0 9 .2 9 .8 9 .8 9.9 8 .8 8 .4 5 .7 6 .2 12-81 9. 2 8 .9 8 .9 8.6 8.7 9 .2 9.1 9.1 8.0 7 .5 5 .4 5 .5 4.8 2 8 0 .1 2 8 1 .5 1-82 8 .8 8 .5 8 .4 8 .1 8.2 CD 282 .6 8 .4 8.2 7 .2 6 .6 4 .9 4 .8 4 .1 3.5 2-82 8 .4 8 .1 8 .0 7.7 7 .7 8.0 7.8 7 .6 6 .6 6 .0 4 .5 4 .3 3 .7 3 .2 3 .0 3-82 7 .6 7 .3 7 .1 6 .8 6 .7 6.9 6 .6 6 .3 5 .3 4 .6 3 .2 2 .8 1.9 1 .0 -0 .2 -3 .3 2 8 3 .4 284.1 2 8 3 .3 284 .0 4-82 7.3 7.0 6 .9 6 .5 6.5 6.6 6 .3 6 .0 5 .0 4 .4 3 .2 2 .8 2 .1 1.5 0 .8 -0 .2 3.0 5-82 7 .6 7 .3 7.2 6 .9 6 .8 7.0 6 .7 6.5 5.7 5 .3 4 .2 4 .1 3.7 3 .5 3 .5 3 .7 7.4 1 2 .0 6-82 7. 9 7.6 7.5 7 .2 7 .3 7.4 7.2 7 .1 6 .4 6.0 5 .2 5 .2 5.0 5.1 5 .4 6 .0 9 .3 1 2 .7 13. 3 11-80 12-80 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-61 9-81 10-81 11-81 12-81 1-62 2-82 3-82 4-82 5-82 IN ITIA L r 28 6 .7 2 8 9 .7 MONTH PREPARED BY JULY 1982 23, FEDERAL RESERVE BANK OF r\ CUM PliU NU ÉD ANNUAL RAT t IN ITIA L TEKM IN A L OF CHANGt 1967 MONTH * 100 MONTH 1 i - Ö Ü 12 — 8 0 ' 12-80 A-. 8 1 -bl 2-öl 5-8 1 6-8 1 7-ul 8 —81 9-81 10-81 11-61 12-8 1 2-82 1-82 3-82 4-82 5-82 260.8 1-81 V. 7 1*1 .V v. 1 12 .2 3 —81 iC . 8 12 . a 11 .8 1**. 1 4 —8 1 11. 0 12 6-81 4-81 257.8 2-81 5-81 3-81 262.8 9.0 265.7 .fc 1 1.8 13. Ü 11 .9 ^. 6 10 .5 V .3 9 . A- 7.2 9.2 9 .9 V .0 8.8 7.1 7-81 8.6 9.1 8 .2 8-81 8 .0 ¿1.4 7 . 9-81 7 .4 7.7 268.2 268.8 2.7 4.8 270 .3 6.9 2 7 1 .3 7.9 6.5 4 .7 5.7 4 .5 7.2 5 .9 4. 4 5.0 4. 6.9 6.5 5.3 4 .0 4 .3 3.4 2.9 2. 2 5 1 3.6 27 2 .1 2 7 2 .6 10-81 7 .4 7. 7 6 .V 6.0 5.5 4 .5 4.9 4 .4 4 .3 4 .7 7 .3 11-81 7. 7.5 6 .8 6 .5 5 .6 4 .7 5.0 4.7 4 .7 5.1 6 .6 5.8 12-81 7.0 7 .2 6 . :> 6 .2 5 .4 4 .6 4.8 4.5 4.5 4.7 5 .5 4 .7 3.5 5 .1 6 .7 2 74.2 275 .5 2 76.3 1-8? 7 .0 7. 1 6 . *> 6 .2 5.5 4.8 5. 1 4.8 4 .8 5.1 5 .8 5 .4 2-82 t . 3 6 .4 5.8 5.5 4 .8 4 .1 4 .2 3.9 3.8 3 .9 4 .2 3 .4 2.6 2 .2 -2 .1 3 — 8<. 5. ^ .8 5.1 4 .8 4 .1 3 .4 3 .4 3. 1 2 .9 2.8 2 .9 2 .0 1.1 0 .3 -2 .8 -3 .4 4-82 5 .4 t) . 4 4.8 4 .5 3.8 3. 2 3 .2 2.8 2 .7 2 .5 2 .6 1 .8 1 .0 0 .4 -1 .6 -1 .3 5-82 5. ^ .1 4.6 4 .2 3.6 3.0 3.0 2 .6 2 .4 2 .3 2 .3 1 .6 0.9 0 .4 -1 .1 - 0 .7 0 .7 0 .4 6-82 5. 5 5. c 5.1 4 .8 4 .2 3 .7 3 .7 3 .5 3 .4 3.4 3 .5 3 .0 2 .6 2.5 1 .6 2 .6 4 .7 6 .7 1 3 .3 12-Ö Ü 1-81 3-81 4-81 5-81 6-81 7—8 1 8-81 9-81 10-81 11-81 12-81 1-62 2-82 3-82 4-82 5-82 / 1 11 -8 0 2-8 1 277 .8 2 7 7 .3 27 6 .5 2 7 6 .7 0 .9 276 .8 2 7 9 .7 INITIAL MONTH * U a Ta f u k i-u u k M U N ifiS a GU K tV lS E D TO REFLECT LATE KEPO RTIN b 4 FEDERAL PREPARED BY JULY 1982 16 , RESERVE BANK OF ST. LOUIS RAT I 0 PR I C E S SCALE SEASONALLY I 9 6 7 - 1 0 0 CPI-U FOR ALL PERCENTAGES LATEST RATIO ADJUSTED ANNUAL DATA P l O T T E D i rates of change for perio ds in d ic a t e d PRODUCER SCALE LATEST SEASONALLY ARE ANNUAL DATA P L O TT E D- . JUNE I 9 6 7 - 1 0 0 PERCENTAGES - 1 0 0 URBAN CO NSU ME RS ARE P R E P AR ED RATIO SCALE 19 6 7 RATES OF CHANGE BY F E DE R A L RESERVE BANK PRICES OF LOUIS RATIO ADJUSTED FOR P E R I O D S ST . SCALE I 9 6 7 - 1 0 0 IN DI CAT ED. JUNE PREPARED 5 BY F E D E R A L RESERVE BANK OF ST. LOUI S COMPOUNDED TERM INAL ANNUAL RATES IN ITIA L OF CHANGE 1967 MONTH « 100 MONTH 12-80 11-80 -1 .4 1-81 2 .9 7 .5 1.5 2 .9 2-81 1-81 2-81 3-81 4 -e i 5 -e i 6-61 7-81 8-61 9-81 10-81 1-62 12-81 2-82 3-82 4-82 5-62 2 5 0 .7 25 0 .4 -1 .4 252 .3 3-81 3 .4 5 .1 3.9 9 .5 4-81 3 .1 4 .3 3.2 5 .6 1.9 5-81 3. 1 4 .0 3 .1 4 .7 2.4 6-81 3 .5 4 .3 3 .7 5 .0 3.5 4 .4 5.8 7-81 4. 3 5. 1 4 .8 6 .0 5.2 6 .3 8.1 10.4 8-81 3. V 4 .6 4 .2 5 .2 4.3 4 .9 5 .6 5.5 0 .9 9-81 2 .9 3 .4 2.9 3 .5 2.6 2.7 2 .6 1.6 -2 .5 10-81 2 .4 2 .8 2 .3 2 .8 1.8 1.8 1 .6 0 .6 -2 .5 -4 .1 -2 .3 11-81 1 .5 1.8 1.2 1.5 0.5 0 .3 -0 .1 -1 .2 -3 .9 -5 .5 -5 .3 -6 . 1 1 .2 0 .4 -3 .9 —4 . 6 0 .2 256 .6 2 56.8 -0 .2 -1 .2 -3 .3 -4 .4 1-82 2 .2 2 .5 2.1 2 .4 1.7 1 .7 1 .5 0 .9 -0 .5 2-82 2.4 2.7 2 .4 2.7 2 .1 2 .1 2 .0 1.5 0.3 3-82 2 .2 2 .4 2 .0 2 .3 1.7 1 .7 1 .6 1 .2 0. 1 25 5 .5 -5 .9 25 5 .0 2 53.2 253.0 -0 .9 25 5 .9 1 .4 6 .6 14 .7 0 .2 1 .5 2 .5 6 .3 10.1 5 .8 -0 .1 0 .9 1 .6 4 .2 6.0 1 .9 o 1.0 254 .5 \r 1.5 253 .3 1 1 .3 2 5 2 .7 2 .9 ° CD 12-81 11-81 249 .2 12-80 2 57.1 2 56.7 - 1 .9 2 60.8 4-82 3. 2 3 .5 3.2 3 .5 3.1 3 .2 3 .2 3 .0 2 .2 2 .3 3 .6 4 .6 7 .4 9 .5 7 .9 9 .0 2 0 .9 5-82 3 .5 3 .8 3 .6 3 .9 3.5 3 .6 3 .7 3 .5 2 . V 3 .1 4 .3 5 .2 7 .6 9 .4 8 .2 9 .0 1 4 .9 9. 1 6-82 3 .6 3 .9 3 .7 4 .0 3 .7 3 .8 3 .9 3 .7 3 .1 3 .3 4 .4 5 .3 7.4 8.8 7 .7 8 .1 1 1 .7 7 .3 5 .6 11-80 12-80 1-81 2-81 3-81 5-61 6-61 7-81 8-61 9-81 10-81 11-81 12-81 1-62 2-82 3-62 4-62 5-62 2-8 2 3-6 2 4 -82 5-82 4-8 1 IN ITIA L ♦DATA F UK FOUR MONTHS AGO REVISED TO REFLECT LATE f MONTH r 1 I1 J TERM INAL L AV L U l ,A N N U A L IN ITIA L 1 0 00 r* 6. 12-8Ü 1-81 2 —0 1 3-81 4 -e i 5-61 6 —8 1 7-81 RATES «L. 1- 1 OF f CHANGE 1967 MONTH 8-81 9-81 10-81 11-81 12-81 1-62 7 12 .0 17.5 2 -til 1 2 .2 l? .C 1 2 .6 100 2 6 2 .5 26 5 .1 3-81 13. 1 15.3 14 .3 16 .0 4-81 1 3.4 1 5 .2 1 4.4 15 .4 14.8 5-81 1 1.5 1 2.5 11.3 10.8 8 .3 6-81 11.0 11.7 10.5 10.1 8.1 5.0 7 .8 7-81 9.9 10. 3 9 .2 8 .5 6 .7 4.2 5 .2 2 .7 8-81 9.2 9 .5 8 .4 7 .8 6 .2 4 .1 4 .8 3 .3 4.0 9-81 8.8 9.1 8 .0 7 .4 6 .1 4 .4 4 .9 4 .0 4 .7 26 8 .4 271 .5 2 .2 272 .0 2 7 3 .7 2 7 4 .3 27 5 .2 276 .4 5 .4 10-81 8 .9 9 .1 8 .3 7 .7 6.6 5.3 5 .9 5.5 6 .4 7 .6 10.0 11-81 9 .0 9 .3 8.5 8 .0 7.1 6*0 6 .7 6 .4 7 .4 8.5 1 0 .2 1 0 .4 12-81 8 .7 a. 8 8 .1 7 .7 6.8 5.8 6 .3 6 .1 6 .8 7 .5 8 .2 7 .3 4 .4 1-82 8 .4 8 .5 7 .8 7 .4 6 .6 5 .7 6. 5.9 6 .4 6 .9 7 .3 6 .5 4.6 1 .6 278 280 .9 28 1 .9 4 .8 2 8 3 .0 2-82 7. 7 .6 6 .8 6 .4 5.5 4 .7 4 .9 4 .6 4 .9 5.0 4 .9 3 .7 1.6 0 .2 - 4 .2 3-82 6 .8 6.8 6 .0 5 .6 4 .7 3 .9 4 .0 3 .6 3 .7 3.7 3 .4 2.2 0 .2 —1.1 —4 . 0 -3 .8 2 82 .0 2 81.1 4-82 6. 1 6 .0 5 .3 4 .8 4 .0 3.2 3.3 2.8 2 .8 2 .7 2 .3 1 .1 -0 .7 -1 .9 -4 .0 - 4 .0 —4 . 2 5-82 5 .6 5 .6 4 .8 4 .4 3 .6 2.8 2 .8 2.4 2 .3 2.1 1 .7 0 .6 -0 .9 -1 .9 -3 .6 - 3 .4 - 3 .2 -2 .1 6-82 6. 1 6 .1 5 .5 5 .0 4 .3 3.6 3 .7 3 .4 3 .5 3 .4 3 .2 2 .4 1.3 0 .8 0 .0 l . l 2 .7 6 .4 15 .6 11-8 0 12-80 1 -81 2-81 3-8; 4-61 5-61 6-81 7-81 8-61 9-81 10-81 11-81 12-61 1-82 2-82 3-62 4-62 5-62 IN IT IA L F UK * 259 .0 1-81 »d a t a 26 3 .9 REPO RTING COMPUUNUEO 11-8 0 26 2 .7 FOUR M U N T Hi> AGO R EVISED TO REFLECT LATE 2 8 0 .1 279 .6 283 .0 m o n t h REPORTING 6 PREPARED BY JULY 1982 16, FEDERAL RÉSERVE BANK OF S T . LOUIS INDUSTRIAL RAT I 0 PRODUCTION SCALE RATIO I 967-100 SEASONALLY 1974 1975 1976 PERCENTAGES A RE LATEST PL O TTE D : D AT A A NNU AL R AT ES JUNE 1977 OF C HA NGE 1978 FOR 1979 PERIODS SCALE 1967 = 100 ADJUSTED 1980 1981 19 8 2 INDICATED. PRELIMINARY PR EP AR ED BY FEDERAL R ES ER VE BA NK OF ST. LOUIS INDUSTRIAL PRODUCTION COMPOUNDED ANNUAL RATES Of CHANGE 1967 LN1TI4L MWTtl- TERMINAL « 100 MONTH 1 1 —8 Q 1 2 - 8 Q ___ 1 —8 1 2-81 3-81 4-81 5-81 6-81 7-81 8-61 9-81 10-81 11-81 1 2 - 8 1 ___ _________ 2~Q 2 ___ _________ ± ± 2 ---- 150.4 . 12-8Q____ 1Q«_L. -L - a r . 2-81 5 * 2 _____3 7 ,2 .7-61 9-81 152,1 151*9 3« Q____ Lt_3____Q_^4__ -Lti?.. 4-81 -ferflJL 151*8 .2 _2^£____ 2 .4 3-81 5-81 l? lf4 9 .2 ____ 8 .1 _4^7____ ________ 2_u6____ Lt à ____ 2-iit____ 6.5 _ 4 . 3_____3 . 4 2 .4 2 . 2 _____¿ * 1 _____ ^ _ Q _____ L t $ L _ 4 . 8 _____4 . Q 3 .3 3 .4 1.9 1 .1 0 .2 -0 .2 _1 5 i^ 9 _ 153.9 8.1 -0 .7 -0 .5 -2 . 1 -3 .4 -8 .6 -1 4 . 6 1 5 1 .6 1 4 9.1 10-81 -0 . 1 -1 .0 -2 .0 -2 .7 -3 .4 -3 .7 -5 .6 -7 .3 -1 1 .9 -1 6 .3 -1 8 .1 11-81 -1 .9 -3 .0 -4 .0 -4 .8 -5 .7 -6 .2 -8 .2 -1 0 .0 -1 4 .1 -1 7 .7 -1 9 .2 -2 0 .3 12-81 -3 .6 -4 .7 -5 .8 -6 .6 -7 .6 -8 .3 -1 0 . 2 -1 2 .0 -1 5 .6 -1 8 .6 -1 9 .9 -2 0 .9 -2 1 .4 -1 1 .6 14 6 .3 1 4 3 .4 - A .9 -6 .0 -7 .1 -7 .9 -8 .9 -9 .7 -1 3 .3 —1 6 . 4 -1 9 .0 -2 0 .1 -2 0 .7 -2 0 .9 . 2-82 -3 .4 - 4 .3 -5 .2 -5 .9 —6 . 6 -7 .1 -8 . 5 -9 .6 -1 1 .9 -1 3 .4 -1 3 .2 -1 2 .0 -9 .0 -2 . 1 3-82 -3 .8 -4 .7 -5 .5 -6 .2 -6 .8 -7 .3 - 8 .6 -9 .6 -1 1 .7 -1 2 .9 -1 2 .6 -1 1 .5 -9 .1 -4 .7 4 .3 -9 .6 4-82 -4 .3 -5 .1 -6 .0 -6 .6 -7 .2 -7 .7 -8 .9 -9 .9 -1 1 .7 -1 2 .8 -1 2 .5 -1 1 .6 -9 .7 -6 .5 - 1 .4 -1 0 .8 5-82 -4 .4 - 5 .2 -6 .0 -6 .6 -7 .2 -7 .6 -8 . 7 -9 .6 -1 1 .2 -1 2 . 1 -1 1 .8 -1 0 .9 -9 .2 -6 .6 - 2 .7 -9 .4 - 9 .4 -6 .6 6-82 -4 . 6 -5 .4 -6 .1 -6 .7 -7 .3 - 7 .7 -8 . 7 -9 .5 -1 0 .9 -1 1 .8 -1 1 .4 -1 0 .6 -9 .1 -6 .9 -3 .9 -9 .2 -9 .0 -7 .5 -8 .3 11-80 12-80 1-81 2-81 3-81 4-81 5-81 6 —8 1 7-81 8-61 10-81 11-81 12-81 1-62 2-82 3-62 4-6 2 5-62 1-82 9-8 1 140.7 -2 0 .4 1 4 2 .9 2 0 .5 141.7 140.2 -1 2 .0 1 3 9 . 4P 1 3 8 . 4P IN IT I A L MONTH P - P R Ei I M I N a RY PREPARED BY FEDERAL JULY 1 5 . 1982 7 RESERVE BANK OF S T . LOUIS PERSONAL RATIO SCALE TRILLIONS 2. 7 6 monthly OF DOLLARS totals INCOME* at SEASONALLY annual RATIO rates TRILLIONS ADJUSTED OF +7 1 / •/ ^ SCALE DOLLARS 2 .7 2 . 6 5 14 4 + 14. 6 Z 3 ‘ 5. 2 2 .4 'S ' 2 .3 4Z/S 2 ¿ y s' I 2 . 5 . 2 2 . I 0 2 . 0 I .9 .9 ■ U .4 Z / ) I .8 .8 I .7 .7 +13. 3 Z . F s I .6 .6 /y 1.5 .5 / *10. .4 I .4 / s ' I .3 .3 I . 2 . 2 I . 1 I .0 * Si 1 t t 0.9 ^ + t 1974 1975 19 7 7 19 7 6 si t _ 19 7 8 S OURCE: PERCENTAGES * DATA REVISED LATEST DATA ARE ANNUAL FROM RATES OF CHAN6E FOR PERIODS 19 8 0 U.S. t 19 8 1 DEPARTMENT 0 0.9 19 8 2 OF COMMERCE INDICATED. 1 97 7. P LOTTED: JUNE PRELIMINARY PREPARED o 00 BY FEDERAL RESERVE BANK OF ST. LOUIS r4 COMPOUNDED ANNUAL RATES OF CHANGE BILLIONS OF DOLLARS INITIAL MONTH ANNUAL rates 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-61 9-81 10-81 11-61 12-81 1-82 2-82 3-62 4-62 5-62 2,283.0 2.308.1 12.1 2,330. 1 2,351.7 11.9 11.7 2,364.5 10.1 9.2 6.7 2,379.1 9.5 8.7 7.2 7.7 2,398.4 9.6 9.1 8.2 8.9 10.2 11.4 11.3 11.2 12.7 15.3 20.7 2,436.3 2,459.6 11.5 11.4 11.4 12.6 14.2 16.3 12.1 2,478.6 1 4 .1 9.7 1 2 .0 1 3 .1 10 .9 1 1 .2 11.1 11.3 2,487.2 10.5 10.3 10.1 10.6 11.3 11.5 8.6 6.9 4.2 2,499.0 10.0 9.« 9.5 9.9 10.3 10.4 7.9 6.6 5.0 5.8 2,497.6 9.0 8.7 8.4 8.6 8.7 8.4 6.1 4.7 3.1 2.5 -0.7 2,499.1 8.3 7.9 7.6 7.7 7.7 7.3 5.2 3.9 2.5 1.9 0.0 0.7 8.2 7.9 7.5 7.6 7.6 7.3 5.5 4.5 3.4 3.2 2.4 4.0 7.3 2,513.8 7.8 7.4 7.1 7.1 7.1 6.7 5.1 4.1 3.3 3.1 2.4 3.4 4.8 2.3 2,518.6 7.8 7.5 7.1 7.2 7.1 6.8 5.4 4.6 3.9 3.8 3.4 4.5 5.8 5.0 7.7 2,534.3 7.6 7*3 7.3 7.3 7.0 5.8 5. 1 4.5 4.6 4.3 5.4 6.6 6.3 8.4 9.1 2,552.7 7.6 7.4 7.1 7.1 7.1 6.8 5.6 5.0 4.5 4.5 4.3 5.2 6. 1 5.8 7.0 6.6 4.2 2,561*4P “ i TERMINAL MONTH 11-80 12-80 12-60 12.8 1-81 13.4 14.0 2-81 13.0 13.0 3-81 12.6 12.6 4-81 11.4 11.1 5-81 10.8 10.4 6— 81 10.7 10.4 7-81 11.9 11.8 8— 81 11.9 11.8 9-81 11.7 11.6 10-81 11.0 10.8 11-81 10.6 10.4 12-81 9.7 9.4 1-82 9.0 8.7 2-82 8.9 8.6 3— 82 8.5 8.2 4— 82 8.4 8.1 5-82 8.5 8.2 6-82 8.2 i t ♦ t 1979 * ____ ^ * 11-80 12-80 1-81 2-81 3-81 4-81 5-81 6-81 7-81 8-61 9-81 10-81 11-81 12-81 1-62 2-82 3-82 4-62 INITIAL MONTH ♦REVISED FROM 1977. P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK JULY 2 6 , 8 1982 O f S T. LtHTS RETAIL RAT I 0 SALES SCALE BILLIONS RAT I 0 OF 1974 DOLLARS 1975 SEASONALLY 1976 1977 BILLIONS ADJUSTED 1978 1979 1980 SOURCE: PERCENTAGES ARE LATEST P LOTTE D: DATA ANNUAL RATES MAY, OF JUNE CHANGE ADVANCE FOR PERIODS SCALE U.S. OF 1981 DOLLARS 1982 DEPARTMENT OF COMMERCE INDICATED. ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS RETAIL SALE S COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH I N IT IA L MONTH Ï 2-9 1 9,2 14*3 2-91 15.1 18,2 16.8 3-91 14,8 16.8 15.3 13.9 4-81 12.1 12.9 10.7 7,7 N o 1 CD o « CM 00 o OOLLARS 1-81 1-61 . . MILLIONS OF 3-81 4-91 5-81 6-81 7-91 8-81 9-81 10-81 11-81 12-81 1-82 2-82 3-82 84.104 85*201 86*128 1.9 86*263 10. 2 10.5 8 ,3 5 ,6 1,6 1.4 10. 8 U ,Q 9 ,4 7 .6 5,6 7,4 13.8 7-81 9 .3 9 .4 7.7 6.0 4.1 4,9 6.6 §-§1 9 .4 9 ,4 8,0 6.6 5.2 6, 0 8.2 8.1 6 .7 5 .3 4.0 10-81 5.5 5.2 3.7 2.1 0. 6 11-81 5 .5 5.1 3.8 2.4 1.1 12-81 4 .8 4 .5 3.2 1.9 0.7 1-82 3 .2 2 .7 1.4 0.2 - 1.1 4 .9 3 .9 2.9 1.9 1.9 86*361 87*299 - 0.1 87*292 7, 6 4 .6 9. 6 5,2 2. 4 3.7 0. 3 0.1 -3.0 -4 .0 0.9 0 .9 -1 .5 -1.9 0.5 0 .4 -1.7 - 2.0 -4.7 -5 .6 1.1 - 2. 2 -1.5 - 1.8 -3 .9 -4.5 -7. 1 -8.3 -5 .0 -9.4 -16.0 2. 0 0.6 0. 7 -0. 7 -0.5 4 .4 4.3 7.7 87*961 -1.9 87*823 - 10. 1 -17 .7 -5.5 -7.2 86.413 4 .5 86*733 86*572 85*320 3-82 4.6 4.2 3.2 2.2 1.3 1.3 1.3 - 0.0 - 0.0 -1. 3 - 1.2 2.4 1.9 3 .3 14.6 -5.0 00 1 5*1 4 .9 4 ,0 3.1 2.3 2.4 2. 4 1.4 1.5 0.6 0 .9 4 .4 4 .4 6*1 14.7 4.5 14.9 6.6 5 .8 5. 1 4.5 4,7 5,0 4. 2 4 .7 4.1 4.9 8.6 9*3 11.8 20.1 14*6 25*8 5,1 4 ,3 3.6 2,9 3.0 3.1 2.3 2 .5 1,8 2.3 5. 1 5.1 6*4 11.6 5 .7 9 .6 1 1 - 8 0 12-80 1-81 2- 81 3-81 4-81 5-81 6 -81 7-81 8-61 9-61 10-81 11-81 12-81 1-82 2 -8 2 3-82 * (\ od I «NI 5.2 —£“ 92 5 .3 5-82 82.855 19.7 6-81 5-82 4 -82 38.2 87*654 87.277 88.294 9 0*682P 3 7. 7 7.0 -1 6 *8 4 -82 89*301£ 5-82 IN IT IA L MONTH P - PRELIMINARY Z z estim ated PREPARED BY FEDERAL RESERVE JULY 13* 1982 9 BANK OF ST • LOUIS HOURLY COMPENSATION, PRIVATE BUS INESS SECTOR* CQMPOUNOEO ANNUAL RATES OF CHANGE_____________ TERMINAL_________________________________________________________________________ IN ITI AL QUARTER ___________________________________________________________________ 1977 « QUARTER 2-78 4-77 1-78 3-78 1-79 2-79 3-79 4-79 1-80 4-80 1-81 3-77 2-81 3-81 4-81 1-82 4-78 2-80 3-80 100 102,9 4-7 7 7 .7 1-78 8 .9 10.1 2-78 8 .4 8.7 7 ,4 3-78 8.5 8. 8 8.1 8 .9 4-78 8.8 9.0 8.7 9 .3 9 .8 105.4 107.3 109.6 112.2 1-79 9.2 9.5 9 .4 10.1 10.7 11.5 2-79 9.1 9 .4 9.2 9. 7 1 0. 0 10.0 8.6 3-79 9.2 9 .4 9.3 9.7 9.9 1 0. 0 9.2 9 ,9 4 -79 9.2 9.3 9.2 9.5 9 .7 9. 6 9,0 9.2 8.6 115,3 117.7 120.5 123,0 1-60 9.5 9 .7 9.6 1 0. 0 10.1 10. 2 9 ,9 10,3 1 0. 6 12,6 2-60 9.6 9.8 9.8 10.1 1 0. 2 10.3 1 0. 1 10,5 1 0. 6 11,7 1 0. 8 3-80 9.6 9.8 9.8 10,1 10, 2 10,3 1 0. 0 10,3 10.5 11,1 10,4 4-80 9 .6 9.8 9,7 1 0, 0 10, 1 10.1 9,9 1 0, 2 1 0, 2 10,7 1 0. 0 9.6 9,3 1-81 9,8 9.9 9 ,9 IQ, Z 10,3 10,3 1 0, 2 10,4 10,5 10,9 10.5 10,4 1 0, 6 12,0 2-01 9.6 9.7 9,7 9,9 10, 0 10. 0 9 ,9 1 0, 0 10, 1 10,3 9 ,9 9,6 9.5 9. 6 126.7 130,0 9 ,9 133,1 136.1 140,0 7,3 142,5 3-81 9,6 9, 7 9,7 9,8 9,9 9 ,9 9,8 9, 9 9,9 10,1 9 .7 9 .5 9.4 9, 4 8.2 9 ,0 4-81 9*4 9.5 9 ,5 9,7 9,7 9,7 9,6 9,7 9,6 9.8 9 .4 9.1 9.0 8,9 7.9 8,2 7,3 1-82 9.5 9.6 9.5 9.7 9.7 9.7 9 .6 9 .7 9,6 9 .8 9.4 9.2 9.1 9.1 8.4 8 .7 8,6 2-82 9.3 £ .4 9,4 9.5 9.6 9,5 l 9. 4 9 .4 9 ,4 9 .5 9,2 8 ,9 8, 8 8,7 8,1 8,3 3-7 7 4-77 1-78 2-78 3-78 1-79 2-79 3-79 4-7 9 1-80 2-80 3-80 4-80 1-81 2-81 4-78 145,6 3-81 1 5 4 , 3P o 151,7 OD 148,2 9 .8 4-81 1-82 IN IT IA L QUARTER ♦REVISED f.ftQa.1977,__________________________________________________________________ P - PRELIMINARY OUTPUT PER HOUR OF ALL PERSONS, PRIVATE BUSINESS SECTOR* _______________COMPOUNDED ANNUAL RATES OF CHANGE___________________ IN IT I A L QUARTER terminal 1977 * 100 QUARTER 1-79 2-79 3-TT 4 -7 7 1^15.... - 0, 8 0, 0 2-78 -0,3 0 .4 0,8 3-78 -0.3 0.1 0,2 4-78 - 0.1 0.3 0. 4 0, 2 0. 8 1-79 -0.3 - 0.1 -0.1 -0 ,4 -0.4 - 1,6 2-79 - 0.6 -0«5 - 0.6 -0 ,9 - 1.1 - 2.0 3-79 - 0. 8 -0.7 - 0.8 - 1,1 -1.3 - 2.0 - 2.2 - 2.0 4-7 9 - 0. 8 -0.7 - 0.8 - 1,1 - 1.2 -1.7 -1.7 -1.4 - 0. 8 1-80 —0 . 6 -0.5 —0 . 6 —0 , 8 -0.9 - 1.2 - 1.1 -0.7 0. 0 0.8 ___ 2r§Q - 1,0 -0.9 - 1,0 “ 1.2 “ 1,4 -1.7 “ 1.8 “ 1.6 “ 1,5 - 1.8 -4,4 ... 3-SQ _- 0 , 7 - 0,6 -0,6 - 0, 8 - 0. 8 -l.l - 1,0 -0.7 -0 ,4 -0,3 - 0,8 2 ,9 4 -8 0 -0,5 -0,4 -0,4 “0 , 6 - 0,6 -0 .7 “0 . 6 -0.3 0,0 0,2 0*0 2 ,3 1.6 Ir S 1 - 0,1 0,1 0,1 0,0 0.0 - 0.0 0.1 0 ,5 0 ,9 1,3 1. 4 3 .4 3, 7 5,8 2-81 - 0.1 0,1 0,1 0,0 0,0 - 0.0 0,1 0.4 0, 8 1,1 1,1 2 ,5 2, 4 2, 8 0,0 3-81 0,0 0,1 0,1 0,1 0,1 0,2 0.5 0 ,9 1,1 1.1 2^.3 2,1 2,3 0,6 1,2 0,2 0 ,4 1, 4 “0 . 7 - 1,0 -3.1 _ 2 n I 3 . —à r.l§ 4“ 79 3-7? 4-7 9 1-80 2-80 3-80 4-8 0 1-81 2-81 3-81 4-81 1-82 4-7 7 100.5 100.5 100.7 -0.4 1 00. 6 1 00. 8 0 *1 _ 100.4 -2.4 99. 8 9 9. 3 99. 1 9 9. 3 9 8. 2 98.9 9 9. 3 100.7 100.7 101.0 4 -81 - 0.2 - 0,1 - 0,1 - 0,1 - 0,1 “0 , 2 “0 , 1 0,6 0 ,5 1,1 0.9 1-82 - 0.1 0.0 0.0 -0.1 - 0.0 -0.1 0. 0 0.3 0.5 0.6 0.6 1.3 1.1 1.0 - 0.2 -0.3 - 1.0 1.2 2-82 0.1 0.2 0.2 0.1 0.2 0.1 0.2 0 .5 0 .7 0.8 0.8 1.5 1.3 1.3 0 .4 0 .5 0 .3 2.0 2.8 3-77 4-77 1-78 2-78 3-78 4-7 8 1-79 2-79 3-79 4-79 1-80 2-80 3-80 4-80 1-81 2-81 3-81 4-81 1-82 1 00 . 2 100.5 1 0 1 .2P I N IT I A L QUARTER ♦REVISED FROH 1977. P - PRELIMINARY PREPARED BY FEOERAL RESERVE AUGUST 2 . 1982 10 BANK OF ST* LO UIS PRODUCTIVITY, RATIO COMPENSATION, AND LABOR SCALE I 9 7 7 - I O O SEASONALLY ADJUSTED LATEST ANNUAL DATA P L O T T E D . REVISED FROM RATES OF CHANCE FOR P E R I O D S SCALE 19 7 7 - 1 0 0 S OU R CE i P E R C E N T A G E S ARE * COSTS* RATIO U .S . D E PART ME NT OF L A BO R ST. LOUIS INDIC AT ED . 2ND O UARTE R P R E L I M I N A R Y l«77. P RE PARE D 8Y F E D E R A L RESERVE BANK OF UNIT LABOR COSTS, PRIVATE BUSINESS SECTOR* COMPOUNOEO ANNUAL RATES OP CHANGE_________ TERMINAL QUARTER IN IT I A L <CHARTER ?-77 ^-77 1-7? .2-79 4 -7 7 9 .1 1-78 1 0. 0 11.0 S-7.8 8.6 8 .4 5.8 ¿778 4-7 8 1-79 2-79 3-79 4 -79 1 -00 1977 » 2-80 3-80 4-80 1-81 2-81 3-81 4—8 1 102.3 105.0 LU I -g ce 106.5 8. 8 8 .7 7.6 9 .3 4-78 8 .9 8.9 8. 2 9 .4 108.9 9.5 111.4 1-79 9 .6 9.7 9.3 10.5 11.1 12.8 2 -7 9 9.8 9. 9 9.7 10.7 11.2 12.0 11.2 114.8 117 .9 3-7 9 10.1 10. 2 10.1 11.0 11.4 12.0 11.6 12.0 4 -7 9 1 0. 0 1 0. 1 1 0. 0 10.7 11.0 11.4 10.9 10. 8 9 .6 1-80 10. 2 10.3 10. 2 10.9 11.1 11.5 11.1 11.1 10.7 11.8 2 -8 0 10.7 1 0. 8 1 0. 8 11.5 11.8 12.1 12.0 12.2 12.3 13.7 15.6 3-6 0 10,4 10*5 10,5 u ,o U .2 11,5 11,2 11,2 11.0 11,5 11.4 7.5 4-8 0 1 0. 1 10. 2 10. 2 10. 6 10.7 10.9 10.6 10.5 10. 2 10.4 9. 9 7 .2 7. 0 1-81 9.8 9. 9 9. 8 10. 2 10.3 10.3 1 0. 0 9 .9 9.5 9.5 8.9 6.8 6.5 2-81 9 .7 9 ,7 9.6 9 .9 1 0, 0 10.0 9.7 9.6 9.2 9.1 8.6 7 .0 6.8 6. 7 7.1 121.3 124.1 127.6 132.3 134 .7 137.0 6.0 139.0 7 .4 141.5 3-81 9 .6 9.6 9 .5 9.8 9. 8 9 .8 9 .5 9.4 9.0 9 .0 8.5 7.1 7.1 7.6 7 .9 4-8 1 9. 6 9 .7 9.6 9.8 9.9 9 .9 9 .7 9.5 9. 2 9 .2 8. 8 7.7 7.8 8. 0 8.6 9. 3 10.7 1-82 9 .6 9.6 9.5 9.8 9.8 9.8 9.6 9 .4 9.2 9.1 8, 8 7 .8 7.9 8.1 _8_» 6 9 .1 9,7 8 .7 7, 4 _ 7.3 7.4 .1,7 7.8 7 .7 6.3 4 .0 3-80 4 -80 1-81 2-81 3-81 4-81 1-82 2-62 100 1-82 9 .3 9.3 9,2 9 .4 9 .4 9 .4 9. 1 9. 0 8.7 8 .6 8. 2 3- 77 4 -7 7 1—78 2-78 3-73 4 -78 1-79 2-79 3-79 4-7 9 1-80 2-80 144.2 147 .9 151.0 1 5 2 , 5P I N IT I A L QUARTER - »REVISED FROM 1977,_______________________________________________________ _ ___ --------------------------------------------------------------------------------- — P - PRELIMINARY PREPARED BY FEDERAL AUGUST 2 , 1982 RESERVE BANK OF ST* LO UI S GROSS NATIONAL PRODUCT IN CURRENT DOLLARS* _____ COMPOUNDED ANNUAL RATES QF CHANGE__________ BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAI QUARTER 3 -77 1-78 4 -7 7 2 -7 8 3-78 4-78 1-79 2-79 3-79 4 -7 9 1-80 2-80 3-80 4 -0 0 1-81 2—81 7. 3 1-78 fi. 1 8 .9 2-78 1 2 .fi 15.7 4-81 1-0 2 2 . 0 3 1 .7 2 .1 3 9 .5 23. 0 12.7 14.6 17.5 1 2. 3 13.2 14.7 16.7 13 .7 15*2_ 1-79 12.6 13.7 15.0 12 .4 12.4 9.8 2 -79 11.9 1 2.6 13.4 11.1 10. 8 8. 6 7.5 3-79 12.1 12. a 13.4 11.6 11.5 10. 2 10.5 13.6 11.6 17.2 12.7 11.0 10. 8 9.7 9. 7 1 0.8 8. 1 1 -80 11.7 12.2 12 . 6 11.2 11.0 10.2 10.3 1 1.3 10.1 2-80 10.5 10.9 11.1 9.7 9.3 8.4 8. 1 8.2 6 .5 5.7 -0.4 3-fiO 10.6 10.9 11.1 V. 9 9.6 8 . ft 8.6 8.8 7 .7 7 .6 5 .3 11 .4 4 -8 0 10.9 11.3 11.5 10.4 10. 2 9.6 9 .5 9.9 9 .2 9.4 8.6 13 .3 15.3 11.5 11.9 12.1 1 1 .2 1 1 .1 1 0. 6 1 0.8 11.2 1 0. 8 11.4 11.2 1 ^ ,4 17.4 o o 2 *20 2.5 3-78 4-78 1 ? .ft 13.2 12.2 5 .3 12 1 2. 8 1 1.9 8 .3 11. 4 1 -fil 3-01 1*988.9 4 -7 7 2 ,2 6 1 . 6 2 .3 3 5 .5 2 .3 7 7 .9 2 .4 5 4 .8 2 .5 0 2 .9 1 2.2 2*575*9 2 . 5 7 3 .4 __ 2 .6 4 3 .7 2 .7 3 9 .4 2 .8 6 4 .9 19.6 11. 1 11.4 1 1 .6 10 . 7 10.5 1 0. 1 10. 1 10.5 10.0 11.1 11.4 1 1.6 10. 7 10. 6 1 0. 2 10.3 1 0. 6 10. 2 10.5 10.2 4-81 10. 6 10.9 1 1 .O 10.2 10. 0 9.6 9 .6 9.8 9.4 9.5 9.2 10 • 8 10.7 9 .6 6.5 7 .1 1-82 10.0 10. 1 10. 2 9.4 9.2 8.7 8 .7 8. 8 8 .3 8. 3 7.8 <j>, 1 8.7 7 .4 4.6 4 .3 1.0 - 1.0 2 -8 2 9 .8 9.9 10. 0 9*2 9.0 8*6 8.5 0. 6 8.2 8.2 7 .a 8 ,9 8.5 7.4 5 .1 5 .0 3 .0 3 .0 7 .1 3-7 7 4 -77 1-78 2 -7 8 3-78 4-78 1-79 2-79 3-7 9 4 -7 9 1-80 2- 80 3-80 4-8G 1-81 2-81 3 -8 1 4 -8 1 1-8 2 c H 2 -fi l 3-81 2 .9 0 1 .8 2.980 .9 3.0 3 *0 0 3 .2 2.*995*5... 3 .0 4 7 .4 P INI T IA L QUARTER ♦REVISED FROM 1977^ P - PRELIM INARY GROSS NATIONAL PRODUCT IN 1972 OOLLARS* ___ COMPOUNDED ANNUAL RATES QF CHANGE TERMINAL QUARTER BILLIONS QF DOLLARS ANNUAL RATES IN IT I A L QUARTER 3 -7 7 4 -77 1-78 4 -77 0.8 1 —7ft 2*1 3 .4 2 —7ft 5 .0 7.1 11.0 2 -7 8 3-78 4-78 1-79 2-79 3-79 4 -7 9 1-80 2-80 3-80 4 -8 0 1-81 2-81 3-61 4-81 1-62 1 .3 8 8 .4 1 .4 00 .0 1*437.0 3-7 8 4.5 5.8 7.1 3.3 4 -7 8 4.7 5.8 6.6 4 .4 5.5 1 -79 4. 1 4 .8 5.2 3 .3 3.3 1.1 1. 4 48 .8 1 .4 68 .4 1 .47 2 .6 2 -7 9 _ _ 3 . 4 3.8 3.9 2.2 1.9 0.1 -0.9 3 —79 .3. 6 4.0 4 .1 2.8 2.6 1.7 1.9 4.8 4 -7 9 3.3 3 .6 3 .6 2 .4 2. 2 1.4 1.5 2. 8 1 .4 69. 2 1 .4 8 6 .6 0 .7 1 .4 89 .3 1-80 3 .1 3 .3 3 .3 2.3 2.1 1.4 1.5 2.3 1.1 1.5 2 -8 0 1.9 2.0 1.8 0 .7 0.4 -0.5 - 0.8 - 0. 8 - 2.6 -4.2 -9.6 3 -8 0 1.8 1.9 1.8 0.8 0.5 - 0.2 -0 .4 -0.3 -1.5 -2 .3 -4. 1 1.7 4 -8 0 2.0 2.1 2.0 1.2 -0.4 -0.7 -1.4 3 .0 0.9 0. 4 0 .3 0.5 1 .4 94 .9 1 .4 57 .8 1 .4 63 .8 4.3 1 .4 7 9 .4 i-a i 2 .4 2.6 2 .5 1.8 1.6 1.2 1.2 1.5 0 .9 1.0 0 .9 4.6 6.1 7 .9 2-81 2.2 2.3 2.2 1.5 1.3 0.9 0 .9 1.1 0.6 0.6 0 .4 3 .0 3.5 3. 1 3-8 1 2.2 2 .3 2.2 1 .5 1.4 1.0 1.0 1.2 0.8 0. 8 0 .7 2.9 3.2 2.8 0.3 2 .2 4-81 1.7 1.8 1.7 1.0 0.9 0.5 0.4 0. 6 0. 0 - 0.2 1.5 1.4 0.7 - 1.6 - 1.6 -5.3 1-82 1.3 1. 4 1 .2 0.6 0.4 0. 0 - 0.0 0. 0 -0.4 - 0.6 - 0.8 0.5 0.3 -0.5 -2.5 - 2.6 -5.2 -5.1 2—82 1.3 1.4 1.3 0 .7 0.5 0. 2 0. 2 - 0.2 —0. 3 -0.5 0.6 0.5 - 0.1 - 1.6 -1 .7 -3.0 - 1.8 1 .7 3-7 7 4 -7 7 1-78 2 -7 8 3-78 4-78 2-79 3-7 9 4 -7 9 1-80 2-80 3-80 4 -6 0 1-61 2-81 3-6 1 4—61 1-82 Q .l_ 1-79 0. 1 1.5 07 .8 1 .5 02 .2 -1.5 1 .5 1 0 .4 1.490.1 1 .4 7 0 .7 1 . 4 7 6 . BP I N IT I A L QUARTER SED FROM 1977. ^KÉLIMINARY * R l VI P- PREPARED BY FEDERAL RESERVE BANK OF S T . JULY 2 1 * 1982 12 LOUIS GROSS RATI O SCALE 1974 NATIONAL QUARTERLY 1975 1976 TOTALS 19 77 AT 197 8 P R OD UC T ANNUAL 1979 SOURCE: PERCENTAGES ARE LATEST PLOTTEDt ^REVISED DATA FROM A NN UA L RATES 2ND OF QUARTER CHA NGE FOR PERIODS RATI O RATES 1980 U.S. 1981 DEPARTMENT SCALE 1982 OF C OMM E R C E INDICATED. PRELIMINARY 1977, PREPARED 13 BY FEDERAL RESERVE BANK OF ST. L O U I S GENERAL RATIO PRICE INDEX* RAT I 0 SCALE 1974 * * A S USED 1975 IN PERCENTAGES *DATA ARE REVISED LATEST DATA 1976 NATIONAL INCOME ANNUAL FROM 1977 1978 1979 ACCOUNTS RATES OF CHANGE 1980 SOURCE: FOR PERIODS U.S. 1981 SCALE 1982 DEPARTMENT OF COMMERCE INDICATED. 1 977. PLOTTED: 2ND QUARTER PRELIM INARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS IMPLICIT PRICE DEFLATOR FOR GROSS NATIONAL PRODUCT* CôHPüUfc&ËD a NMJAl fcATÉS ÔP CHANGÉ INI TI A L q u a r t s TERMINAL QUARTER 3-77 4-77 1-76 2-7é 4-77 6 .4 1-78 5.9 5.4 ¿-7 0 7.5 8.0 10. 8 3-7Ò 7.8 8 .3 9 .7 8 .7 4 -7 8 è . r~ 8.5 9 .5 8 .9 3-78 4-78 1-79 2-79 3-79 4-79 1—80 1972 * 2-80 3-80 4-80 1-61 2-81 3-81 4-81 1ÔÔ 1-82 143.24 145.12 148.89 152.02 9.1 155.38 1—79 8.1 8.5 9 .3 8.8 8 .5 8.6 ¿ -7 9 8.2 8 .5 9 .1 8 .7 8.7 8.5 8.5 3 -7 9 8.2 8.5 9 .0 8.6 8 .6 8 .4 6 .4 4-79 158.60 161.85 8 .3 165.12 "8 . 1 " 8*3 3 .7 8 .4 8 .4 8.2 8.0 7. Ö 7.3 “ 1-Ô Ô 9 .3 8 .6 9 .0 8 .7 8.7 8.6 8.6 8 .7” 8. 9 10.5 ¿ -8 0 8 .5 8 .7 9. 1 8 .9 8 .9 8 .9 8 .9 9.1 9.3 10.3 IÖ. 1 ' c$-80 57<T' ' Ô.Ô 9 .1 " 9 .0 9.Ô 9 .0 9.Ô 9.2 9.4 10.1 9.9 4 -8 0 Ô.7 8 .? 9 .r~ 9.2 9.2 9.3 9 .4 9.6 10. 2 1 Ò. 1 lô .ô 10.5 1-61 8 .9 9 .1 9 .4 9. 3 9 .3 9 .4 9 .5 9.6 9.8 10 .3 10.3 10.3 10.7 10.9 2—81 à.é 8 .9 9.2 9.1 9.1 9.1 9.2 9.2 9.4 9.7 9 .6 9.4 9 .4 8.8 6. 8 ~ 3-61 8. 8 8 .9 9.2 9.1 9. 1 9.1 9.1 9.2 9.3 9 .6 9 .5 9 .3 9 .3 6.9 7.9 9. 0 ~4 -8 1 8. 6 8 .9 9 .2 9 .0 9.1 9.1 9.1 9. 2 9.5 9.5 9.4 9 .2 9.2 " 8.2 ' 8 .9 8. 8 1-62 8.5 8.6 8. 8 è .7 Ô.7 Ô.7 8 .7 8. 7 é .ô 8 .9 8.7 8 .5 8 .3 T79 7.2 7.3 6.5 4 .3 2-8 2 8.3 8 .5 8.6 Ô.5 Ô. 5 8 .4 8 .4 8 .4 ê.4 8.6 8 .3 8 .1 7 .9 7 .5 6. 8 6.8 6.1 4. 8 5.3 3-77 4-7 7 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 4-80 1-81 2-81 3-61 4-81 1-82 172.71 176.52 J 0 w 1 CD o 180.¿0 CD '9 .3 160.05 "1 8 5 .1 6 190.01 "9.9" 193.17 197. 36 201.55 203.68 2 0 6 . 35P I N I T I A L QUARTER ♦ REV ISE D FROM 1977. P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . JULY 14 21 » 1982 LOU IS - PERSONAL CONSUMPTION EXPENDITURES IN CURRENT DOLLARS* _______________ COMPOUNDED ANNUAL RATES OF CHANGE__________________ BILLIONS OF - IfR HI N AL QUARTER ANNUAL RATES 3-7 7 4-7 7 4-7 7 1-78 2 -7 8 3-78 4-7 8 1-79 2 -7 9 3 -7 9 12 . 1 _l-7 tì 10 . 1 2-7Ô 12 .7 __ 3_r7.8 .... 12.4 4-7 9 1-80 3-80 2-80 4 -8 0 4 -8 1 1-82 8 *_L 1 276.4 13.0 _ 18.1 12.5 14.8 1 330.7 1 367.5 11.5 12 . 6 12.5 13.4 12.2 13.3 11. 7 11.9 10.3 2-79 11 • 7 11.6 12.3 10.9 10.7 9 .4 8.5 3—7V 12 . 1 12.1 12.8 11 .7 11.8 11.2 11.7 14*9 4-7 9 12,3 12.3 12.9 12.0 12.1 11.8 12.3 14.3 13.7 1-80 12 , 1 12.1 12.6 11.8 11.9 11.6 11.9 13.1 1 2.2 1 0.4 10.3 9 .7 9 .6 9.9 8 .3 5.7 0.9 0 11 • 4 11.3 11.7 11.0 10.9 10.5 10. 6 1 1.0 10.1 8.9 8.0 15.6 4-8 0 11 . 8 11.7 12.1 11.5 11.5 11.2 11.4 11.8 11.2 10. 6 10.6 15.8 16.1 1-81 11 . 8 11.8 12.1 11.6 11.6 1 1.4 1 1.6 12.0 11.5 1 1.1 11.2 14.9 14.5 13.0 2- a i 11 . 3 11.3 11.5 11.0 10.9 10.7 10.7 11.0 10.5 1 0. 0 9 .8 12.2 11.0 8.6 12.0 11.1 2-8 0 1 411 .3 1 446 *3 1 4 76.0 1 528.3 10.7 1 oc 3-81 11 1 1.3 11.5 11.0 11.0 10.7 10.8 11.1 10.6 1 0. 1 10. 1 10 • ft 10. 8 10-9 10.5 10.4 10. 1 10. 1 10.3 9.8 9.3 9. 1 1 -ft? 10 ,. 7 10. 6 10.7 1 0. 3 10. 2 9.9 9.9 1 0. 0 9 .5 9.1 8.9 10. 1 10.5 10.0 9.9 9.7 9.6 9 .7 9 .3 8.9 8.6 9 .7 1-78 2-7 8 3-78 4 -7 8 1-79 2-79 3-79 4 -7 9 1-80 2-80 4-77 Ì >78.0 I 618.7 1 622 . 2 4-ftl 3-77 3-8 1 251.8 12 • 2 1-79 2 -8 1 1 12.7 _ 14.3 4-78 1-81 1 682 .0 _ _ 1 74>.S 1 799.9 1 919.4 4.4 1 868 • 8 9 .5 7 .8 11. 3 7 .9 6.3 7 .3 3 .4 9.2 7 .9 6.6 _ 7 .4 5 .5 7. 6 8. 8 7 .7 6.7 7 .2 5 .9 7.2 3-80 4 -8 0 1-81 2-81 3-81 4-8 1 1 884.5 1 919 .4 6 .7 1 950 . 8 P 1-8 2 I N IT IA L QUARTER ♦ REVISED FROM 1971* PRELIMINARY PERSONAL CONSUMPTION EXPENDITURES IN 1972 DOLLARS* TERMINAL QUARTER 3-7 7 6.2 1-78 3 .8 2-78 5.2 „3-78 _ BILLIONS OF DOLLARS ANNUAL RATES IN I T IA L QUARTER 4-7 7 4-7 7 1-78 2 -7 8 3-78 4-7 8 1-79 2-79 3-7 9 4-7 9 1-80 2-80 3-80 4 -8 0 1-81 2-81 3-81 4 -8 1 1-02 880.4 883 . 8 1 . 6_ 4 .8 8.1 4.3_ .5.7 3.4 901.1 908 .6 4-78 4.8 4.4 5 .4 4.1 4.7 1-79 4 .1 3 .7 4 .2 3.0 2. 8 0 .9 2 -7 ? 3 .4 2 .9 3.2 2.0 1.6 0.1 3 -7 9 __2-*6 3.2 3.5 2.6 2.5 1.7 2.1 5.1 930 . 9 4-7 9 3 .6 3. 3 3 .5 2.8 2. 6 2.1 2.5 4. 2 938.6 1-80 3.1 2.8 3. 0 2,3 2.1 1*5 1.7 2.5 1*3 -0*7 2-8 0 2.0 1.6 1.6 0.8 0.5 - 0.2 -0.5 -0.4 - 2.2 -4.8 -8.7 3-8 0 2.3 1.9 2.0 1 .3 1.1 0. 5 0 .5 0.7 -0.3 -1.5 -1.9 4-8 0 2 .5 2.2 2. 3 1.7 1.6 1.2 1.2 1.6 0.9 0.3 0.6 5 .6 5.7 1-81 2 .7 2.4 2 .5 2.0 1. 8 1.5 1.6 1.9 1 .4 1.1 1 .5 5 .2 5.0 4.4 2—81 2 .3 2.0 2.1 1.6 1.4 1.1 1.1 1.4 0.8 0 .4 0.6 3 .1 2.4 0. 8 1.5 919.2 921.2 -0 .7 919.5 3.3 937.0 915 .8 5 .4 928 .0 941.0 951. 1 -2.7 944.6 3-81 2 .3 2.1 2.1 1 .7 1.5 1.3 1.3 1.5 1.1 0. 8 1.0 3 .1 2.5 0* 1 2.9 4-81 2.0 1. 7 1.8 1 .3 1.2 0 .9 0 .9 1.0 0.6 0 .3 0 .4 2.0 1.3 0 .3 - 1.1 -0 .3 -3.3 1-82 2.0 1 .8 1.8 1.4 1.3 1.0 1.0 1.2 0.8 0.5 0.6 2.1 1.5 0.7 - 0.2 0.6 -0 .5 2 .4 2-82 2.1 1 .9 1.9 1 .5 1.4 1.1 1.2 1.3 1.0 0. 8 0.9 2.2 1.7 1.1 0.4 1.2 0.7 2.8 3.1 3-77 4-77 1-78 2-7 8 3-78 4-7 8 1-79 2-79 3 -7 9 4-7 9 1-80 2-80 3-eo 4 -8 0 1-81 2-81 3-81 4 -8 1 1- 8 2 951.4 943 .4 949. 1 9 5 6 . 3P IN IT I A L QUARTER ♦REVISED FROM 1977. P - PRELIMINARY .... PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS _ CROSS PRIVATE OOMfSTIC INVEST«ENT IN CURRENT DOLLARS* __________ COMPOUNDED ANNUAL RATES OF CHANGE____________ IN IT IA L TERMINAI QUARTER 3 -7 7 4 -7 7 1 ,3 1-78 8,8 4 -7 7 1-78 2 -7 8 3-78 4-7 8 1-79 2-79 3-79 B IL L IO N S OF DOLLARS ANNUAL RATES QUARTER 1-80 4 -7 9 3-80 2 -80 1 -Ü. 1 . 2-8 1 3-81 4 -81 1-82 340 .7 354 .2 16,8 - 2 -78 19,6 30 ,0 44.7 3 -7 8 16.2 21.6 2 4. 1 6.4 4 -7 8 16.1 20.1 21.2 10 .9 15.5 1-79 14,3 17,1 17.2 9 .2 10.7 6.0 2 -7 9 14.2 16.5 16 .4 10.2 11.5 9 .6 13*3 388.5 394.6 409.1 415.1 4 28. 3 4 31. 9 3 -7 9 12.8 14.5 14.1 8 .8 9 .5 7 .5 8 .3 4 -7 9 9.5 10.6 9.7 4.8 4*5 1.9 0 .5 - 5 . 3 -13.3 1-8 0 9.3 10. 2 9.4 5 .1 4. 9 2. 9 2.1 -1.3 3*4 -3*6 416.8 424.0 7.1 2 -8 0 5,3 5.7 4.5 0 .3 -0.5 -3.0 -4.7 -8.7 -12.4 - 12.0 -2 7 .7 3 -8 0 4.7 4.5 3.3 -0,5 -1,3 -3.5 -5.0 -8.3 - 11.1 4 -8 0 6,0 6 ,4 5,5 2.2 1.7 0.1 —0 . 7 - 2. 8 -4.0 - 1.6 -10 ,3 -17 .9 391.0 -6 .9 384,1 -4.3 10.1 30.2 410 .3 1-81 8.8 9 ,4 8,8 6,0 5.9 4 .9 4.8 3.6 3 .6 7 .4 7.5 2 2. 7 40.8 52.2 2 -81 9 .4 10.0 9 .5 7 ,0 7,0 6,2 6.2 5 .4 5 .6 9 .2 9 .6 21 ^6 32.9 34 .3 18.5 ^-Pll 9 .4 9.9 9,5 7, 1 7.2 6 .5 6,5 5,8 6,1 9.2 9.5 19.0 26.5 25.3 13.7 4-ftl 7.9 ft .3 7 .8 5 .5 5 .5 4 .7 4.5 3 .7 3,7 6. 1 5.9 12.9 17.3 14.3 3*2 1 .ft 45i>,7 475 .5 486 .0 9.1 - 2 .8 -13.3 46A.9 1-ft? S 4 .7 1.4 0.4 - 0.0 - 1.2 - 1,6 - 0,2 - 1,1 3,4 5,3 0,9 - 9 , 0 - 1 6 , 6 - 2 7,2 - 3 8 , 8 2 -fi? 5 .0 5 .3 4.6 2 ,5 2,3 1,4 1,0 0,1 - 0.2 1.7 0.5 4 .8 6.5 3 .0 -4 .7 -9.8 3-77 4 -7 7 1-78 2 -7 8 3-78 4 -7 8 1-79 2-79 3-79 4-7 9 1-80 2-80 3-80 4-8 0 1-81 2-81 IN IT IA L 414.8 -15 .3 -1 6 .3 14 . 5 4-6 1 1-62 3-81 4 2 9 . IP QUARTER *RE YISED FROM 1977. P - PRELIMINARY GROSS PRIVATE DOMESTIC INVESTMENT IN 1972 DOLLARS* __________ COMPOUNDED ANNUAL RATES OF CHANGE____________ TERM INAL QUARTER IN IT IA L 3 -77 4-77 4 -7 7 1-78 2-7 8 3-78 4-78 1-79 2-79 3-79 4 -7 9 1-80 2-80 3-80 4 -8 0 1-91 2-81 3-81 4 -6 1 1-62 -7.5 218.5 1 —7ft 3 ,5 15.9 7 —7ft 10,4 20,5 25.4 3—7ft 6.8 12.1 10, 2 4 -7 8 6,9 10,8 9,2 1 ,9 7,2 1-7 9 5,5 8,3 6,5 0 .9 3,0 - 1.2 2 -7 9 4.7 6.8 5 .1 0.6 1.9 -0.7 -0 .3 3 -7 9 3 .2 4.8 3 .1 -0.9 -0.3 -2.7 -3 .5 226.7 239 .9 -3,1 238 .0 242.2 241.5 241 .3 - 6.6 237.2 4-79 0.5 1 .5 -0.4 -4.1 -4.3 -7,0 - 8. 8 - 1 2 . 8 - 1 8 . 6 1 -8 0 - 0.0 0.8 -0.9 —4 . 2 -4.3 -6.5 -7.8 7-ftO -3.5 -3.1 -5 .0 -8,3 -9,0 -11,4 -1 3 .3 3 -8 0 —3 . 7 -3,3 -5.0 -7.9 -8.5 - 10. 6 -1 2.0 -14 .2 4 -ftO -1,9 -1.4 - 2.8 -5.3 -5.5 1 -ftl - 0,2 0,4 - 0,8 - 2.8 1 .4 0,4 -1.5 2-81 B IL L IO N S OF DOLLARS ANNUAL RATES QUARTER O . ft - 1 0 . 1 -11 .9 225 . 3 -4.5 222.7 -16 ,3 -19 ,3 -1 9 ,7 -3 2 .4 -16 ,0 -15,1 201,9 - 20.0 -5.2 199.2 -9.0 -9.4 -7,0 -7,8 7 ,8 22,6 -4,2 -4,8 -4,4 -1 ,3 -0.5 13,2 23,8 2 4, 9 - 2,2 -2 ,5 -1 .9 1,2 2.4 13,7 20 . ft 19,9 -7 .0 -7,8 - 2, 8 -3 ,9 -1 -3 - 2.1 209.6 221.6 229 ,5 15,0 1 ,8 O .ft - 0.8 - 0.6 -1 .3 -1.4 -1,5 - 0.8 2.0 3.2 12.3 17,2 15, 4 10, 9 0.0 -0.9 -2 .6 -2.5 -3.3 -3.5 -3.8 —3 .5 -1.4 - 1.0 5 .5 7.8 4 .4 - 1.6 1-8 2 -2,9 - 2,6 -3,6 -5 ,3 -5,5 -6,4 - 6,8 -7,4 -7,5 - 6. 1 -6.3 -1,9 -1 .3 -5.5 - 1 1 . ft - 1 9 . 3 - 7 9 . 9 - 3 6 * 5 2-82 - 2.2 -1,9 - 2,8 -4,4 -4,5 -5,3 -5.6 - 6.0 -5 ,9 -4*6 -4.6 -0,3 0 ,4 -2,9 - 7 . 7 - 1 2 . 6 -18 ,3 -1 6 , 1 10.9 3 -7 7 4 -7 7 2 -7 8 3-78 4 -78 1-79 2-7 9 3-79 4 -7 9 1-80 2-8 0 3-60 4 -8 0 1-61 4 -e i 1-82 • 1.2 —0 . 4 00 3 -8 1 4 -ftl IN IT IA L 233.4 7 .0 218,9 —9 . 0 - 2 2 , 6 2-81 3-8 1 195.4 2 0 0 . 5P QUARTER ♦ R E V I SEDi FROM 1977. P - PR ELIM IN AR Y PREPARED BY FEDERAL RESERVE BANK OF S T . 16 LOUIS GOVERNMENT PURCHASES OF GOODS AHD SERVICES IN CURRENT DOLLARS* ______________ COMPOUNDED ANNUAL RATES O f CHANGE__________________ TERMINAL QUARTER BILLIONS OF DOLLARS ANNUAL RATES IN IT I A L QUARTER 3-7 7 4r77 1-78 .2-70 3-78 4-7 8 4 -7 7 9.7 1-78 7 .2 4.8 2 -7 8 a .7 8.2 11.7 3-78 10.2 10.4 13.3 4-78 10*4 10.6 1 2.6 13. 0 11.2 1-79 9 .5 9.5 10.7 10. 3 8. 2 5.2 2“ TV 9 .1 9 .0 9*9 9.4 7.7 6.0 4-7 9 10.3 10.4 2-7 9 3-7 9 4 —79 1-80 2-80 4-8 0 3-80 1-81 2-81 3-8 1 4-8 1 1-82 408 .0 412.8 9 . 5 _ 10.3 3-7V 1-79 11.3 424 .4 14.8 439 .3 451.1 456.9 464 .5 10.1 8. 9 8.2 9 .7 12.6 11.2 10.5 10.3 12.1 14.8 <♦78.5 497.6 16.9 1-80 11.1 11.3 12.1 12.2 11.8 11.9 13.6 16.0 17.7 18.5 2-80 11.4 11.5 12.3 12. 4 12.0 12.2 13.6 15.4 16.3 16.0 3-8 0 10.5 1 0. 6 11.2 11.2 10.7 1 0- 6 1 1.6 12.6 12.5 11.1 7 .6 1 .9 4 -8 0 11.0 11.1 11.7 11 .7 11.4 11. 4 1 2. 3 13.2 13.4 12.5 10.6 9. 1 16.8 1-81 11.2 11.3 11.9 11 .9 11.6 11.7 12.5 1 3. 3 13.4 12.7 11.3 10.6 15.2 2-81 10.7 10. 7 11.2 11.2 10.9 1 0. 8 11. 5 12.1 1 2.0 11 .2 9.7 8.8 11.2 8. 5 3 .6 3-81 10.8 1 0. 8 11.3 11.3 11.0 10.9 11.5 12.1 12.0 11 .3 10.1 9 .5 11.5 9. 7 7 .8 12.2 4-81 11.2 11.3 li.a 11.8 11.5 11-6 12.2 12.7 12.7 12.2 11.3 10-9 1 2. 8 11.9 11. 3 15. 3 18.6 626 .3 1 -ft? 10-7 1 0- 8 11-2 11-1 10-9 10- 8 1 1.3 1 1.7 11.6 11.1 10. 2 9.7 11.0 9 .9 9.0 10.9 10.2 2 .4 630.1 2-82 10.2 1 0- 2 10-5 10-5 1 0. 2 10. 1 10.5 10.8 10. 6 8.6 9.6 8.4 7 .4 8 .4 7 .1 1.8 1.1 3-77 4 -7 7 1-78 2 -7 8 3-78 4 -7 8 1-79 2-79 3-7 9 2-80 3-80 4-8 0 1-81 2-81 3 -81 4 -8 1 1-82 519.2 536.0 13.6 i O o 4 -7 9 1-80 538.5 559.0 13.7 578.1 563.2 600 . 2 6 3 1 . 9P I N IT IA L QUARTER *REY1SED FROM 1977. P - PRELIMINARY GOVERNMENT PURCHASES OF GOODS AND SERVICES IN 1972 DOLLARS* _____________ COMPOUNDED ANNUAL RATES Cff CHANfeE_____________________ TERMINAL QUARTER BILLIONS OF DOLLARS ANNUAL RATES I N IT I A L QUARTER 3 -7 7 4-77 0.9 4 -7 7 1-78 2 -7 8 3-78 4 -78 1-79 2-79 3 -7 9 4-79 1-80 2 -i 3Q 3-80 4 -8 0 1-81 2-01 3-81 4 -e i 1-82 271.4 270,4 1-78 -0.3 -1 .5 2-78 1.4 1.6 4 .8 3-78 2.2 2 .7 4.8 4 .8 4-7 8 2.0 2.3 3-6 3.0 1.3 1-79 1. 4 1.5 2.2 1 .4 -0*3 -1.9 2-7 9 1.3 1.3 1.9 1.2 0.0 - 0.6 0.6 3-7 9 1. 5 1.5 ^♦1 1.5 0 .7 0.5 1.7 2.9 273.6 276.8 277 .7 2 76.4 276.8 270.0 4 -7 9 1 .7 1.8 2 .3 1.8 1.3 1.3 2.3 3.2 3 .5 1-80 2.0 2.1 2.6 2.3 1.9 2.0 3. 0 3.8 4 .3 5.1 7-AO 2- 1 2.2 2 .7 2 .4 2.1 2.2 3.0 3. 6 3 .9 4-1 281.2 284 . 7 3.1 206.9 _ 3-ftO 1-5 1 -6 1 -9 1 -6 1 -2 1- 2 1-7 1-9 1-6 1-0 -0 .9 - 4 • ft 4 -AO 1- 4 I -4 1-7 1 -4 1 -O 1-0 1-4 1-5 1 .3 0-7 -0.7 -2 •6 —0.3 1 -ftl 1-7 1 -7 2- 0 1 -7 1 -4 1-4 1-9 2- 0 1 -9 1-6 0.7 -0 .0 2.4 5. 2 2 83. 4 283.2 286.8 1 1 1 1-2 0-9 0-9 1 -? 1-3 1 -O 0- 6 - 0-2 -1 • 0 0. 2 0.5 -4.0 1-4 1 -4 1-7 1 .4 1 -1 1-1 1.4 1-5 1.4 1-1 0-4 -0 • 1 1.1 1.5 -0 .3 3.6 4—81 1-7 1 .8 2- 0 1 -8 1.6 1 -6 1-9 2- 1 2- 0 1-A 1-3 1 .0 2. 2 2.9 2. 1 5 .3 1 .7 1.S 2.0 -2 -9 - 0 . 9.. -4 .6 -6.3 3-81 4 -8 1 1-82 i 1-* 1.0 1- 1 3-77 4 -7 7 1-78 <N 1-A? ?—A? 00 1 ?-#n 3 -f ll 283.9 1 1.1 1- S 1-6 1 1.1 0.8 0 .5 1.4 1.7 0.8 2.5 0-7 0 -7 0 -9 0 -9 0 -7 0 -5 -0 .0 - 0 .4 0. 2 -0.3 - 0.6 0.2 3-78 4-7 8 1-79 2-79 3-7 9 4-79 1-80 2-80 3-80 4-8 0 1-81 2-81 286.4 7 .0 291 . 3 289 .2 2 8 4 . 5P IN IT I A L QUARTER •RFVI SFD FROM 1977P - PRELIMINARY PREPARED BY FEDERAL 17 RESERVE BANK OF S T . LOUIS OISPOSABLE PERSONAL INCOKE IN CURRENT DOLLARS* COMPOUNDED ANNUAL RATES O f CHANGE_____________ BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERMINAI QUARTER 3 -7 7 4 -7 7 1-78 2 -7 ® 3-78 4 -7 8 1-79 2 -7 9 3-7 9 4-79 4 -7 7 1 1 .9 1 -78 10.8 9 .7 2 -7 8 11.7 1 1 .6 1 3 .6 3 -7 8 12.0 1 2.1 1 3 .3 1 3 .0 4 -7 8 12.2 1 2 .3 1 3.2 1 3 .0 13.0 1 -7 9 1 2.2 1 2 .3 1 2 .9 1 2 .7 12.6 12.1 2 -7 9 11.8 11.8 1 2.2 1 1 .9 11.5 10.8 9 .5 3 -7 9 1 2.0 1 2.0 1 2 .4 1 2 .1 11.9 11.5 11.2 1 3,0 4 -7 9 1 1.8 1 1.7 1 2 .0 1 1 .8 11.5 11.2 10.8 1 1.5 10.1 _1 1 *9 11.7 11.5 1 1.3 1 1.9 11.4 12.7 2 -8 0 11.0 1 1.0 11.1 1 0 .8 10.5 10.0 9 .6 9 .7 8 .6 7 .9 IrftO 2 -8 0 _3-eo 4 -8 0 1-81 2 -8 1 3 -8 1 4 —61 1-82 1 .3 7 3 .5 1 .4 0 5 .7 1 .4 5 1 .3 1 .4 9 6 .2 1 .5 4 2 .7 1 .5 8 7 .5 1 ,6 2 4 .0 1 .6 7 4 .3 1 *1 14 ,9 1 ,7 6 6 .9 3 .2 1 ,7 8 1 ,0 3-BO 11.4 1 1 .3 1 1 .5 1 1 .3 11.1 10.8 10.6 10.8 10.2 1 0 .3 9 .1 15.3 4 -8 0 1 1.5 1 1 .5 1 1. 6 11 .4 11.3 11.1 1 0.9 11.1 10.8 1 1.0 1 0.4 14.2 13.0 1 -ftl 1 1.6 11 .5 1 1.7 1 1 .5 11.4 11.2 1 1.1 11.3 11.0 11.2 10.9 1 3.5 12.6 1 2 .3 2 -8 1 11.3 1 1 .3 1 1.4 1 1.2 11.1 10.9 1 0.7 10.9 10.6 1 0.7 1 0.3 12.1 11.1 1 0.1 1 ,8 4 5 .5 1 .9 0 2 .9 1 .9 5 8 .7 7 .9 __1Q#6 1 ,9 9 6 .5 1 3 .3 2 .0 6 0 .0 8 .3 2 .1 0 1 .4 1-ft? 1 0 .ft 1 0.7 10.8 1 0 .6 10-4 10.2 10. 1 10.1 9 .8 9 .8 9 .5 1 0.4 9 .6 8 .9 8. 1 8 .1 5 .6 3 .0 2 -8 2 10.6 10.5 1 0.5 1 0 .3 10.2 10.0 9 .8 9 .8 9 .6 9 .5 9 .2 9 .9 9 .2 £ .5 7 .8 7 .8 6 .0 4 .9 6 .7 3 -7 7 4 -7 7 1-78 2 -7 8 3-78 4 -7 8 1 -79 2 -7 9 3 -7 9 4 -7 9 1-80 2 -8 0 3-80 4 -8 0 1-81 2 -8 1 3 -81 4 -8 1 1-82 2 .1 1 7 .1 2 .1 5 1 .9 P IN IT IA L QUARTER »R E V IS E D FROM 1 9 7 7 ._____________________________________________________________________________________ P - PRELIMINARY DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS* ____COMPOUNDED ANNUAL RATES O f CHANGE___________ TERMINAL QUARTER 3 -7 7 4 -7 7 BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 4 -7 7 1 -78 2 -7 8 3-78 4 -7 ® 1-79 2 -7 9 5 .9 3 -79 4 -7 9 1-80 2 -8 0 3 -«) 4 -8 0 1-81 2-8 1 3 -8 1 4 —81 1-82 9 65.9 9 7 3 .4 1-7 8 4 .5 3 .1 2 -7 8 4 .3 3 .5 3 .9 982.8 3 -7 8 4 .4 3 .9 4 .3 4 .7 4 -7 8 4 .4 4 .0 4 .3 4 .5 4 .3 1 -7 9 4 .1 3 .7 3 .9 3 .9 3.4 9 94.2 1 *004.8 2 .5 1 .0 1 1 ,1 2 -7 9 3 .5 3 .1 3 .1 2 .9 2 .4 1.4 0 .2 3 -7 9 3 .5 3 .2 3 .2 3 .0 2 .6 2 .0 1 .7 3.2 4—79 3 .1 2 .8 2 .7 2 .5 2.1 1 .5 1 .2 1.7 1 .0 U .7 1 .0 1 9 .8 0 .1 1 .0 2 0 ,1 1 -8 0 2 .9 2 .6 2 .5 2 .3 1.9 1 .4 1.2 1.5 0 .6 1.1 2 -8 0 2 .0 1 .6 1 .5 1 .1 0 .6 0 .0 —0 . 4 -0 .6 -1 .9 -2 .8 -6 .6 \ -«o 2 .3 1 .9 1 .8 1 .6 1 m2. 0 .8 0 .5 0 .5 -0 .2 -0 .2 -0 .9 5 .1 4 -8 0 2 .3 2 .0 1 .9 1 .7 1.4 1.0 0.8 0 .9 0 .5 0 .5 0 .4 4 .1 1 .0 2 2 ,8 1 ,0 0 5 .5 1 .0 1 8 .2 3 .0 1 .0 2 5 .7 1-81 2 .4 2 .1 2 .1 1 .9 1.6 1 .3 1 .2 1 .3 1 .0 1 .2 1 .2 3 .9 3 .3 3 .7 2 —81 2 .3 2 .0 2 .0 1 .8 1. 5 1.3 1.1 1.2 0 .9 1.1 1.1 3 .1 2 .4 2 .1 0 .6 3 -8 1 2 .4 2 .2 2 .2 2 .0 1.8 1.6 1.5 1.6 1.4 1 .6 1 .7 3 .4 3.0 3 .0 2 .7 4 .8 4 -8 1 2 .4 2 .2 2 .1 2 .0 1 .ft 1.5 1 .4 1.6 1 .4 1.5 1 .6 3 .1 2 .6 2 .6 2 .2 3 .0 1 .2 1-ft? 2 .1 1 .9 1 .8 1 .7 1.5 1 .3 1 .2 1 .3 1.1 1.2 1 .2 2 .3 1.9 1 .7 1. 1 1 .3 -0 .4 - 1.9 2-82 2 .2 2 .0 1 .9 1 .8 1.6 1 .4 1.3 1.4 1 .2 1.4 1 .4 2 .4 2.0 1 .9 1. 5 1 .8 0 .8 0 .6 3 .1 3 -7 7 4 -7 7 1-78 2 -7 8 3-78 4 -7 8 1 -79 2 -79 3-7 9 4 -7 9 1-80 2 -8 0 3-80 4 -8 0 1-81 2-81 3-81 4 -8 1 1-82 1 .0 3 5 .0 1 .0 3 6 .6 1 .0 4 8 .8 1 .0 5 1 .9 1 .0 4 6 .9 1 *0 5 4 .9P I N IT IA L WÄRTER -PREVISED FROM 1977. p - p r e l im in a r y PREPARED BY FEDERAL 18 RESSWE BANK OF S T . LOUIS CORPORATE PROFITS AFTER TAXES* COMPOUNDED ANNUAL RATES OF CHANGE IN IT IA L TERM INAL QUARTER 2-77 3-77 4-77 3-77 18.7 4-77 6.7 -4.0 1-78 9 .2 4 .8 14.4 2 -78 18.8 18.8 32. 3 1-78 2-78 3-7 8 4 -7 8 1-79 2 -7 9 B I L L I O N S OF DOLLARS ANNUAL RATES QUARTER 3 -7 9 4 -7 9 1-80 3-8 0 2-80 4-60 2 -8 1 1-81 3-8 1 _4—8 1 126.6 125.3 129.6 144,1 5 2. 8 3 -78 18.5 18.4 27.0 3 3. 8 17.1 4 -7 8 20.2 20 .5 27.6 32.3 23.1 29.5 1-79 17.6 17.5 22.3 24* 4 16.1 15.6 3.3 2 -7 9 16.5 16.1 19.9 21.0 14.2 13.2 5.8 8 .4 3-7 9 16.1 15.7 18.9 19. 6 13,9 13.1 8.2 10. 7 4-79 13.1 12.5 14.8 14.8 9 .4 8. 0 3.2 3.2 0.6 -1 0 .4 1-SO 13.fi 13.3 15.4 15.5 11.0 10. 0 6 .5 7.3 6 .9 ?-ftO 6.0 4.9 5. 8 4 .9 0.1 - 2.2 - 6.6 -8,5 3 -8 0 8.0 7 .2 8 .3 7.7 3.6 2. 0 -1 .4 - 2.2 -4.2 -8.1 -7.3 -18 .7 36.2 4-ftO 7 .9 7 .1 8.1 7.5 3.8 2.4 - 0.6 - 1.1 -2.6 -5.5 -4.2 - 11.2 20. 0 5 .8 1 -f l l 7 .9 7 .2 8.1 7.6 4. 3 3. 1 0 ,5 0.1 -1,0 -3.2 -1.7 -6.5 16.3 7 .4 149*9 159*9 161.2 164.5 169.6 13, 0 165.0 2 0. 6 172.9 -1 2 ,3 -19 ,4 -23 ,5 144.3 3.9 -51.5 155.9 1 5 « . JL 161.6 9 .2 ? —fi 1 4 .8 3.9 4 .5 3.8 0. 5 -4.2 -5.7 —8,1 -7 ,7 - 12.6 1.3 - 6.2 -14.5 - 3 3 .0 3-fll 5 .3 4.S 5.1 4 .4 1 *4 0.2 - 2. 1 - 2.6 -3,8 -5.7 -5.0 -ft.7 3.6 -3 .3 - 6 .1 - 1 2 , 9 1 3. 2 150.8 4-ftl 4.0 3. 2 3 .7 3 .0 0.2 - 1.0 -3.2 -3.8 -4,9 - 6, 8 -6,3 -9.6 0.3 -5.7 -8 .3 -1 3 .5 - 1.8 -1 4 .8 144.9 1 -ft? - 1.0 -1 .9 - 1.8 - 2.8 -5.6 -7.1 -9 .4 - 1 0 .4 - 1 2 ,0 -1 4 .1 -1 4 .5 -18.1 - 1 1.8 -17.9 2-77 3-77 4 -7 7 1-78 2-78 3-78 4-78 2-80 3-80 CD 1 N) 0 LN *) (V 1 146.2 -2 6 .6 -4Q.9. - 5 9 . 1 115*2. N.A. 2-82 1-79 2-7 9 3-79 IN IT IA L * N A T IO N A L 4-7 9 1-80 4-6 0 1-81 2-81 3-81 4 -81 QUARTER INCOME B A S IS N.A. -NOT AVAILABLE. PREPARED 8 Y FEDERAL REVISED FROM 1977. iin v RESERVE BANK OF i9 A ? HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United State s, 1929-76: S t a tis t ic a l Tables (Stock number 003-010-00101-1, price $10.00). Estimates for 1977-81 w ill appear in the July 1982 Survey Current Business. Estimates for the periods since, appear in subsquent issues of the monthly Survey of Current Business. These publications present the results of the comprehensive revision of the national income and product accounts described in the December 1980 Survey, and are available from the Superintendent of Documents, U.S. Government Printing O ffice, Washington, D.C. 20402. For further information, write to the National Income and Wealth D ivision (BE-54) Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. Telephone (202) 523-0669, Mr. Robert P. Parker. 19 ST. LO UIS INVENTORIES COMPARE D WI T H MANUFACTURING AND MONTHLY SALES* TRADE . 68 68 . 64 64 . 60 60 . 56 56 . 52 52 . 48 48 . 44 44 . 40 40 . 36 36 . 32 32 1968 1969 1970 * R A T I OS BASED ON SHADED AREAS REPRESENT LATEST DATA 1971 1972 SEASONALLY PLOTTED: ADJUSTED PERIODS MAY 1973 OF 1974 1975 1976 1977 DATA. BUSINESS 1978 SOURCE: 1979 1980 U . S . DEPARTMENT 1981 OF 1982 COMMERCE RECESSIONS. PRELIMINARY PREPARED 20 BY FEDERAL RESERVE BANK OF ST. LOUIS
@FedFRASER