Full text of National Economic Trends : July 1989
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
N a t io n a l E c o n o m ic T r e n d s July 1 9 8 9 E s tim a te s o f th e n a t io n ’ s g r o s s n a tio n a l p r o d u c t (G N P ) a r e r e le a s e d th r e e tim e s e a c h q u a r te r as p r o g r e s s iv e ly m o r e in f o r m a t i o n b e c o m e s a v a i l a b l e . T h e a d v a n c e e s t i m a t e is r e l e a s e d a b o u t 1 5 - 2 0 d a y s a f t e r t h e e n d o f t h e q u a r t e r , f o l l o w e d b y a p r e l i m i n a r y e s t im a te 3 0 d a y s la te r a n d a f i n a l e s t im a te a n o th e r 3 0 d a y s la te r . F o r e x a m p le , fin a l e s tim a te s o f fir s t q u a rte r 19 89 real G N P g r o w th a n d th e ra te o f in c r e a s e o f th e G N P im p lic it p r ic e d e fla t o r , as a n n o u n c e d o n J u n e 2 2 , w e r e 4 . 4 p e r c e n t a n d 3 . 6 p e r c e n t , r e s p e c t i v e l y , c o m p a r e d w it h t h e ir a d v a n c e e s t im a t e s , a n n o u n c e d o n a p r il 2 6 , o f 5 .5 p e r c e n t an d 3 .9 p e rc e n t. T h e 1 .1 p e r c e n t a g e - p o i n t r e v i s i o n i n r e a l G N P g r o w t h f r o m t h e a d v a n c e t o t h e fin a l e s t im a t e is n o t u n u s u a l f o r t h e s e r e le a s e s . In th e p r e v io u s 2 0 q u a r te r s , fiv e o f th e r e v is io n s o f re a l G N P g ro w th h a v e b e e n at le a s t o n e p e r c e n t a g e p o in t in m a g n it u d e . A s th e t a b le b e l o w s h o w s , fin a l a d ju s t m e n ts t o th e a d v a n c e fig u r e h a v e a v e r a g e d 0 .6 1 fr o m t h e a d v a n c e t o th e fin a l e s t im a te p e r c e n t a g e p o in t s in a b s o lu t e v a lu e . T h e 0 .3 p e r c e n t a g e - p o in t r e v is i o n o f th e G N P d e f l a t o r ’ s ra te o f c h a n g e in th e fir s t q u a r te r illu s tr a t e s th e s m a lle r r e v i s io n s th a t a r e t y p ic a l o f th e d e fl a t o r . T h e s m a lle r r e v is i o n s o f p r i c e s s u g g e s t th a t e a r ly i n f o r m a t i o n o n p r i c e m o v e m e n t s is g e n e r a l l y m o r e r e l i a b l e t h a n e a r l y i n f o r m a t i o n o n o u t p u t . O v e r t h e p r e v i o u s f i v e y e a r s , o n l y t w o o f t h e a d v a n c e - t o - f m a l G a n g e s in th e d e fla t o r e x c e e d e d o n e p e r c e n t a g e p o in t . A vera ge A b s o lu te R e v is io n s (in to G N P p ercen ta g e D a ta , 1 /1 9 8 4 - I V /1 9 8 8 p o in ts ) A n n u a l ra tes A d v a n c e to P r e lim in a r y A dvan ce o f ch an ge p re lim in a r y to fin a l to fin a l R eal G N P 0 .5 3 0 .4 0 0 .6 1 G N P d e fla to r 0 .3 4 0 .2 0 0 .4 0 — M ic h a e l T . B e lo n g ia Views expressed do not necessarily reflect official positions of the Federal Reserve System. T O T A L C IV IL IA N E M P L O Y M E N T (Com pounded A n n u a l R a tes o f C hange) TERMINAL MONTH IN IT IA L MONTH 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 THOUSANDS OF PERSONS 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 115.460 11-87 2.5 12-87 2.8 5.0 1-88 5.0 5.2 5.4 2-88 2.8 2.9 2.8 2.5 5-88 1.9 1.8 1.4 0.4 -1 .5 4-88 2.6 2.4 2.4 2.1 2.0 115.740 114.055 114.275 114.129 114.660 5.7 114.405 5-88 1.8 1.7 1.4 0.9 0.5 1.4 -2 .7 6-88 2.4 2.5 2.2 2.0 1.9 5.1 1.8 6.5 7-88 2.1 2.1 2.0 1.7 1.6 2.4 1.5 5.4 0.5 8-88 2.1 2.1 1.9 1.7 1.6 2.5 1.4 2.8 1.1 1.8 9-88 2.1 2.0 1.9 1.7 1.7 2.2 1.5 2.6 1.5 1.8 1.8 10-88 2.1 2.0 1.9 1.8 1.7 2.2 1.6 2.5 1.5 1.9 1.9 2.1 11-88 2.2 2.2 2.1 2.0 2.0 2.4 1.9 2.7 2.0 2.4 2.6 5.0 115.001 115.054 115.205 115.570 115.575 115.947 4.0 116.009 12-88 2.1 2.1 2.0 1.9 1.8 2.2 1.8 2.4 1.8 2.0 2.1 2.2 2.5 0.6 1-89 2.5 2.5 2.4 2.5 2.5 2.7 2.4 5.0 2.6 2.9 5.2 5.5 4.0 4.0 7.5 2-89 2.4 2.4 2.5 2.5 2.5 2.6 2.5 2.9 2.4 2.7 2.9 5.1 5.4 5.2 4.4 1.5 116.711 116.855 5-89 2.4 2.4 2.4 2.5 2.5 2.6 2.4 2.9 2.5 2.8 2.9 5.1 5.5 5.1 5.9 2.2 2.9 4-89 2.5 2.5 2.2 2.1 2.1 2.4 2.1 2.6 2.2 2.4 2.5 2.6 2.7 2.4 2.9 1.4 1.5 -0 .2 117.156 5-89 2.2 2.2 2.1 2.1 2.1 2.5 2.1 2.5 2.1 2.5 2.5 2.4 2.4 2.2 2.5 1.5 1.2 0.4 l.l 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 117.115 117.215 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 2. 1989 PAYROLL EM PLOYM ENT* (Compounded Annual Rates o f Change) TERMINAL MONTH 10-87 11-87 12-87 11-87 5.0 12-87 5.4 5.8 1-88 5.0 2.9 1-88 2-88 5-88 4-88 5-88 INITIAL MONTH OF PERSONS 7-88 8-88 9-88 10-88 11-88 12-88 6-88 THOUSANDS 1-89 2-89 5-89 4-89 105.470 105.791 2.1 105.970 2-88 5.5 5.7 5.7 5.2 5-88 5.4 5.6 5.5 4.2 5.1 104.414 104.682 4-88 5.5 5.4 5.2 5.6 2.8 2.5 5-88 3.1 3.2 5.0 5.5 2.6 2.4 2.2 6-88 5.4 3.5 5.4 5.7 5.5 5.4 5.8 104.901 105.091 5.5 105.561 7-88 5.5 3.5 5.5 5.5 5.1 5.1 5.5 5.9 2.4 8-88 5.2 5.2 5.1 5.5 5.0 2.9 5.0 5.5 2.5 105.768 2.1 105.954 9-88 5.2 5.2 5.1 5.2 5.0 2.9 5.0 5.2 2.5 2.5 2.9 10-88 5.2 5.2 5.1 5.2 5.0 5.0 5.0 5.2 2.6 2.7 5.0 11-88 5.2 5.2 5.2 5.5 5.1 5.1 5.2 5.5 2.9 5.0 5.5 5.5 4.0 12-88 5.2 5.2 5.2 5.5 5.1 5.1 5.2 5.5 2.9 5.0 5.5 5.4 5.6 106.207 5.1 106.475 106.824 107.097 5.1 1-89 5.5 5.5 5.2 5.5 5.2 5.2 5.2 5.4 5.1 5.2 5.4 5.5 5.7 5.5 5.9 2-89 5.5 5.5 5.2 5.5 5.2 5.2 5.2 5.5 5.1 5.2 5.5 5.4 5.5 5.4 5.5 5.0 5-89 5.2 5.2 5.1 5.2 5.1 5.1 5.1 5.2 2.9 5.0 5.1 5.2 5.2 5.0 5.0 2.5 2.0 107.442 107.711 107.888 4-89 5.1 5.1 5.1 5.2 5.0 5.0 5.0 5.1 2.9 2.9 5.0 5.1 5.1 2.9 2.8 2.4 2.2 2.5 5-89 5.0 5.0 5.0 5.0 2.9 2.9 2.9 5.0 2.7 2.8 2.8 2.8 2.8 2.6 2.5 2.1 1.8 1.7 1.1 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 «REVISED FROM 1984 P - PRELIMINARY 108.094P 108.195P IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 2» 1989 2 EMPLOYMENT RATIO SCALE MILLIONS 1981 OF RATIO SEASONALLY ADJUSTED PERSONS 1982 1983 1984 1985 MILLIONS 1986 1987 1988 OF SCALE PERSONS 1989 SOURCE* U.S.DEPARTMENT OF LABOR BE*INNI MO JANUARY 108«. TOTAL EMPLOYMENT DATA INCORPORATE NEW PROCEDURES FOR EST IMATINO MEASURES OF IMMIORATION AND EMIORATI ON INCREASING TOTAL EMPLOYMENT BY ABOUT 0.3X. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PER1008 INDICATED. LATEST DATA PLOTTEDt MAY PRELIMINARY * REVISED FROM 1984 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS UNEMPLOYMENT PERCENT RATE PERCENT SEASONALLY ADJUSTED 11.0 10. 10.0 9. 9.0 8. 8.0 7. 7.0 6. 6.0 5. 5.0 4. 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCEt U.S. DEPARTMENT OF LABOR PERCENT OF CIVILIAN LABOR FORCE LATEST DATA PLOTTED» MAY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 3 4.0 C O N S U M E R P R IC E IN D E X F O R A L L U R B A N C O N S U M E R S (Com pounded A n n u a) R a tes o f Change) 4.5 12-87 5.2 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 ? 11-87 1982-84*100 INITIAL MONTH CM H TERMINAL MONTH 10-87 11-87 12-87 1-89 2-89 5-89 4-89 115.4 2.1 115.6 116.1 1-88 5.9 5.7 5 5 2-88 5.4 5.2 5 7 2.1 116.5 116.7 5—88 5.6 5.4 5 9 5.1 4.2 4-88 5.9 5.8 4 2 5.8 4.7 5.5 117.2 117.7 5-88 4.1 4.0 4 4 4.2 4.9 5.5 6-88 4.1 4.0 4 4 4.2 4.7 4.9 4.7 4.2 7-88 4.2 4.2 4 5 4.4 4.8 5.0 4.9 4.7 5.2 8-88 4.2 4.2 4 4 4.5 4.7 4.8 4 .7 4.5 4.7 4.1 9-88 4.5 4.5 4 5 4.4 4.8 4.9 4.8 4.7 4.8 4.6 5.2 118.1 118.6 119.0 119.5 5.2 120.0 10-88 4.5 4.4 4 6 4.5 4.8 4.9 4.8 4.8 4.9 4.8 5.1 5.1 11-88 4.2 4.2 4 4 4.4 4.6 4.7 4.6 4.5 4.5 4.4 4.4 4.1 5.0 12-88 4.2 4.2 4 4 4.5 4.6 4.6 4.5 4.4 4 .5 4.5 4.5 4.1 5.6 120.5 120.7 4.1 121.4 1-89 4.4 4.4 4 6 4.6 4.8 4.9 4.8 4.8 4.8 4.8 4.9 4.8 4.7 5.6 7.2 2-89 4.5 4.5 4 7 4.6 4.8 4.9 4.8 4.8 4 .9 4.8 4.9 4.9 4.8 5.4 6.1 5.1 5-89 4.6 4.6 4 7 4.7 4.9 5.0 4.9 4.9 5.0 5.0 5.1 5.1 5.1 5.6 6.1 5.6 6.1 4-89 4.8 4.8 5 0 4.9 5.1 5.2 5.2 5.2 5.5 5.5 5.5 5.5 5.6 6.1 6.6 6.4 7.1 8.1 5-89 4.9 4.9 5 1 5.1 5.5 5.5 5.5 5.4 5.5 5.5 5.6 5.7 5.8 6.2 6.7 6.6 7.1 7.6 7.0 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 121.9 122.5 125.5 124.0 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 16» 1989 PRODUCER PRICE INDEX, FINISHED GO O D S (Compounded Annual Rates of Change) TERMINAL MONTH 10-87 11-87 12-87 INITIAL MONTH 1-88 2-88 5-88 4-88 5-88 11-87 0.0 12-87 -1 .7 -5 .5 1-88 1.5 2.5 8.2 2-88 1.1 1.5 4.0 0.0 5-88 1.8 2 .5 4.2 2.5 4.6 4-88 2.1 2.5 4.0 2.7 4.0 5.4 5-88 2.5 2.7 5.9 2.8 5.8 5.4 5.4 6-88 2.5 2.6 5.6 2.7 5.4 5.0 2.8 2.5 6—88 7-88 8-88 1982 « 100 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 106.0 105.7 106.4 106.4 106.8 107.1 107.4 107.6 7-88 2.8 5.1 4.1 5.4 4.1 4.0 4.2 4.6 6.9 8-88 2.8 5.2 4.0 5.4 4.0 5.9 4.0 4.2 5.1 5.4 9-88 5.2 5.5 4.5 5.8 4.4 4.4 4.5 4.8 5.7 5.1 6.8 10-88 5.0 5.5 4.0 5.5 4.0 5.9 4.0 4.1 4.5 5.7 5.9 1.1 11-88 5.0 5.5 5.9 5.5 5.9 5.8 5.9 5.9 4.5 5.6 5.7 2 .2 5.5 12-88 5.1 5.4 4.0 5.6 4.0 5.9 5.9 4.0 4.5 5.8 5.9 5.0 5.9 108.2 108.5 109.1 109.2 109.5 4.5 109.9 1-89 5.8 4.1 4.7 4.4 4.8 4.9 5.0 5.2 5.6 5 .4 5.8 5 .6 7.1 9.1 15.9 2-89 4.5 4.6 5.2 4.9 5.4 5.4 5.6 5.9 6.5 6.5 6.7 6.7 8 .2 9.8 12.6 11.4 5-89 4 .4 4.6 5.2 5.0 5.4 5.4 5.6 5.8 6.2 6.2 6.6 6.5 7.6 8 .7 10.2 8 .4 5.5 4-89 4.4 4.7 5.2 5.0 5.4 5.4 5.6 5.8 6.2 6.1 6.4 6.4 7.5 8.1 9.0 7.4 5.5 5 .5 5-89 4.8 5.0 5.5 5.4 5.7 5.8 6.0 6.2 6.6 6.6 6.9 7.0 7.8 8.6 9.4 8.5 7.5 8 .5 11.1 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 111.1 112.1 112.6 115.1 114.1 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 9» 1989 4 PRICES RATIO SCALE 1981 1982 1983 1984 1985 RATIO SCALE 1986 1987 1988 1989 CONSUMER P R IC E S D A TA A R E ON A 10 8 2 - 1 4 - 10 0 B ASE C P I - 0 D A TA B E G IN N IN G I9 B 3 IN C O R P O R A T E A R E N T A L E Q U IV A L E N C E M EASURE FO R H O M EO VN E R S H IP C O S T S . P E R C E N TA B E S A R E AN NU A L R A T E S OF CHAN CE F O R P E R IO D S I N O IC A T E D . L A T E S T D A TA P L O T T E O t MAY PR E P A R ED B Y F E D E R A L R E S E R V E BANK OF S T . L O U IS RATIO SCALE PRODUCER PRICES P E R C E N TA G E S A R E AN NU AL R A T E S OF CHAN OE FO R P E R IO D S RATIO SCALE I N D IC A T E D . L A T E S T D A TA P L O T T E D : MAY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 5 P R O D U C E R P R IC E IN D E X , F IN IS H E D C O N S U M E R F O O D S (Com pounded A n n u a l R a tes o f Change) TERMINAL MONTH 10-87 11-87 12-87 11-87 12-87 1982 * 100 INITIAL MONTH 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 110.0 2.2 108.8 -5 .5 -1 2 .5 110.4 1-88 2.2 2.2 19.1 2-88 0.5 0.0 6.8 -4 .5 5-88 1.8 1.6 6.8 1.1 110.0 110.6 6.7 110.6 4-88 1.5 1.5 5.0 0.7 5.5 0.0 5-88 2.2 2.2 5.4 2.2 4.4 5.5 6.7 6-88 5.2 5.5 6.2 5.7 5.8 5.5 8 .4 10.2 7-88 5.8 4.0 6.5 4.6 6.4 6.4 8 .6 9.5 8 .9 111.2 112.1 112.9 115.6 8—88 4.2 4.4 6.7 5.0 6.7 6.6 8 .4 8 .9 8 .5 7.7 9-88 4.8 5.0 7.2 5.8 7.5 7.4 8 .9 9.5 9.2 9.4 10-88 4.5 4.7 6.5 5.2 6.5 6.4 7.6 7.7 7.1 6.5 6.0 1.1 11-88 4.4 4.6 6.5 5.1 6.2 6.2 7.1 7.1 6.5 6.0 5.4 2.6 4.5 12-88 4.2 4.4 5.9 4.8 5.7 5.6 6.5 6.2 5.6 5.0 4.5 2.1 2.6 1.0 1-89 5.0 5.2 6.7 5.7 6.7 6.7 7.4 7.5 7.1 6.8 6.7 5.6 7.2 8 .6 2-89 5.5 5.7 7.1 6.5 7.2 7.2 8 .0 8.1 7.9 7.7 7.7 7.1 8.6 10.1 14.9 15.1 5-89 5.8 6.0 7.4 6.6 7.4 7.5 8 .2 8.4 8 .2 8.1 8.1 7.6 9.0 10.2 15.5 11.9 4-89 5.0 5.2 6.4 5.6 6.4 6.5 6.9 6.9 6.6 6.5 6.1 5.4 6.2 6.6 8.0 5.2 1.5 -6 .8 5-89 5.5 5.5 6.7 5.9 6.6 6.6 7.2 7.2 6.9 6.7 6.6 6.1 6.8 7.5 8.5 6.6 4.5 1.5 10.6 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 114.6 11.1 114.7 115.1 115.2 16.8 116.7 117.9 10.7 118.9 118.2 119.2 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 9» 1989 PRODUCER PRICE INDEX, FINISHED G O O D S, EXCLUDING FOODS (Compounded Annual Rates o f Change) TERMINAL MONTH 10-87 11-87 12-87 11-87 -1 .1 12-87 0.0 1.2 INITIAL MONTH 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 1982 « 100 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 104.6 104.7 1-88 1.2 2.5 5.5 2-88 1.7 2.7 5.5 5.5 5-88 1.8 2.6 5.1 2.9 2.5 4-88 2.5 5.0 5.5 5.5 5.5 4.6 5-88 2.5 2.9 5.2 5.2 5.1 5.5 2.5 6-88 2.0 2.5 2.7 2.5 2.5 2.5 1.1 0.0 7-88 2.4 2.9 5.1 5.1 5.0 5.2 2.7 2.9 5.8 8-88 2.5 2.9 5.2 5.1 5.1 5.2 2.9 5.1 4.6 5.4 105.0 105.5 105.5 105.9 106.1 106.1 106.6 106.9 9-88 2.7 5.1 5.5 5.5 5.5 5.4 5.2 5.4 4.6 4.0 4.6 10-88 2.6 2.9 5.1 5.1 5.0 5.1 2.9 5.0 5.7 5.0 2.8 1.1 11-88 2.6 5.0 5.1 5.1 5.1 5.1 2.9 5.0 5.7 5.1 5.0 2.5 5.4 12-88 2.9 5.2 5.5 5.5 5.5 5.4 5.5 5.4 4.0 5.6 5.7 5.4 4.6 5.7 107.5 107.4 107.7 108.2 1-89 5.5 5.8 4.0 4.1 4.2 4.5 4.5 4.6 5.2 5.1 5.5 5.7 7.5 9.5 12.9 2-89 5.8 4.2 4.4 4.5 4.6 4.8 4.8 5.1 5 .7 5.7 6.1 6.4 7.7 9.2 11.0 9.1 5-89 5.9 4.5 4.5 4.6 4.6 4.8 4.9 5.1 5.7 5.7 6.0 6.2 7.5 8 .5 9.2 7.4 5.6 4-89 4.2 4.5 4.8 4.8 4.9 5.2 5.2 5.5 6.0 6.0 6.4 6.6 7.6 8 .4 9.1 7.9 7.5 9.0 5-89 4.6 4.9 5.1 5.2 5.4 5.6 5.7 5.9 6.5 6.6 6.9 7.2 8.1 8 .9 9.6 8.8 8 .6 10.2 11.5 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 109.5 110.1 110.6 111.4 112.4 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 9» 1989 6 NDUSTRIAL RATIO PRODUCTION SCALE RATIO SEASONALLY ADJUSTED 1977*100 150 SCALE 1977-100 150 145 145 0 * 1 4 1 .4 140 140 *4 A 135 135 130 125 \w + 6 .6 X A s / +0.6X J ? 130 125 V ^ 120 120 115 >4.4X 1 15 1 6 .4 t jf 110 110 \ 105 105 100 100 ___ ì 90 < L J t , 1981 ij k t 1 1982 * > * ^ il $ f 1983 t 95 t 1984 1985 \ 1986 1987 1988 1989 90 PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDi MAY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS INDUSTRIAL PRODUCTION (Compounded Annual Rates o f Change) TERMINAL MONTH 10-87 11-87 12-87 INITIAL MONTH 1-88 2-88 3-88 4-88 5-88 4-88 7-88 8-88 1977 « 100 9-88 10-88 11-88 12-88 1-89 2-89 3-89 4-89 133.2 11-87 4.5 12-87 6.5 6.5 1-88 5 .9 5.5 4.6 2-88 4.4 3.7 2.3 0.0 3-88 4.0 3.4 2.4 1.3 2.7 4-88 4.4 4 .0 3.4 3.0 4.5 6.4 5-88 4.7 4.4 4.0 3.8 5.2 6.4 6.4 4-88 4.6 4.3 3.9 3.8 4.8 5.5 5.0 3.6 133.9 134.4 134.4 134.7 135.4 136.1 136.5 138.0 7-88 5.6 5.5 5.3 5.4 6.5 7.5 7.9 8 .7 14.0 8-88 5.5 5.3 5.2 5.3 6.2 6.9 7.0 7.2 9.1 4.4 9-88 5.0 4.9 4.7 4.7 5.4 5.9 5.8 5.6 6.3 2.6 0.9 10-88 5.2 5.1 4.9 5.0 5.6 6.1 6.0 5.9 6.5 4.1 4 .0 7.2 11-88 5.1 5.0 4.9 4.9 5.5 5.8 5.8 5.7 6.1 4.2 4.1 5.8 4.4 12-88 5.1 5.0 4.9 4.9 5.4 5.7 5.6 5.5 5 .8 4.2 4.2 5.3 4.4 4.4 1-89 5.0 4.9 4.7 4.8 5.2 5.5 5.4 5.2 5.5 4.1 4 .0 4.8 4.1 3.9 3.5 2-89 4*5 4.4 4.2 4.2 4.5 4.7 4.5 4.3 4.4 3.1 2.9 3.3 2.4 1.7 0.4 -2 .5 3-89 4.3 4.1 4.0 3.9 4.3 4.4 4.2 4.0 4.0 2.8 2 .6 2.9 2.1 1.5 0.6 -0 .8 0.9 4-89 4.4 4.3 4.2 4.1 4.4 4 .6 4.4 4.3 4.3 3.3 3.2 3.5 2.9 2.6 2.2 1.7 3.9 7.0 5-89 4.2 4.1 3.9 3.9 4.1 4.2 4.1 3.9 3.9 3.0 2.8 3.0 2.5 2.2 1.7 1.3 2.6 3.5 0.0 10-87 11-87 12-87 1-88 2-88 3-88 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 3-89 4-89 138.5 138.6 139.4 139.9 140.4 140.8 140.5 140.6 141.4P 141.4P IN IT IA L MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS JUNE 15» 1989 7 PERSONAL RATIO TRILLIONS INCOME RATIO MONTHLY TOTALS AT ANNUAL RATES SCALE OF SCALE TRILLIONS OF DOLLARS 4.8 SEASONALLY ADJUSTED DOLLARS 4.4 4.0 3.6 3.2 2 .8 2.4 1981 1982 1983 1984 1985 1986 1987 1988 1989 2 .0 SOURCEt U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt MAY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL INCOM E (Compounded Annual Rates of Change) TERMINAL MONTH 10-87 11-87 12-87 11-87 -4 .0 12-87 6.6 18.5 1-88 2.5 6.0 1-88 2-88 5-88 4-88 5-88 INITIAL MONTH ANNUAL RATES 6-88 7-88 8-88 9-88 10-88 11-88 12-88 BILLIONS OF DOLLARS 1-89 2-89 5-89 4-89 5*884.1 5,939.0 -5 .1 5*921.8 2-88 5.9 6.6 1.2 7.9 5-88 5.5 8.1 4.8 10.2 12.6 4-88 5.4 7.4 4.8 8.5 8.5 4.6 5-88 5.5 7.2 5.1 7.8 7.8 5.5 6.5 6-88 5.7 7.2 5.4 7.7 7.7 6.1 6.8 7.2 7-88 6.1 7.5 6.0 8.0 8 .0 6.9 7.6 8 .5 3,946.7 3,985.9 4,001.0 4,021.4 4,044.9 9.4 4,075.5 8-88 6.0 7.2 5.9 7.5 7.5 6.5 7.0 7.2 7.2 5.0 9-88 6.1 7.2 6.0 7.5 7.4 6.6 7.0 7.1 7.1 5.9 6.9 10-88 7.1 8 .2 7.2 8 .7 8 .8 8.5 8 .9 9.4 10.0 10.2 12.9 19.2 11-88 6.5 7.2 6.5 7.5 7.4 6.8 7.1 7.5 7.5 6.8 7.4 7.6 -2 .9 12-88 6.6 7.5 6.6 7.8 7.8 7.5 7.6 7.8 7.9 7.6 8.2 8 .6 5.7 10.8 1-89 7.6 8 .5 7.8 9.0 9.1 8.7 9.2 9.5 9.9 9.9 11.0 12.0 9.7 16.6 22.7 2-89 8 .0 8 .8 8.2 9.5 9.4 9.1 9.6 10.0 10.5 10.4 11.4 12.5 10.6 15.5 18.0 15.4 4,091.8 4,114.7 4,175.5 4,165.2 4,200.8 4,275.1 4,518.2 5-89 8 .2 9.0 8.4 9.4 9.5 9.5 9.7 10.1 10.4 10.5 11.5 12.1 10.7 14.4 15.6 12.2 10.9 4-89 8 .0 8 .8 8.2 9.2 9.5 9.0 9.4 9.7 9.9 10.0 10.6 11.2 9.9 12.6 15.1 10.1 8.4 5.9 5-89 7.8 8 .5 7.9 8.8 8 .9 8 .6 8 .9 9.2 9.5 9.5 9.8 10.2 9.0 11.1 11.1 8 .4 6.8 4.8 5.6 1 0 -8 7 1 1 -8 7 1 2 -8 7 1 -8 8 2 -8 8 5 -8 8 4 -8 8 5 -8 8 6 -8 8 7 -8 8 8 -8 8 9 -8 8 1 0 -8 8 1 1 -8 8 1 2 -8 8 1 -8 9 2 -8 9 3 -8 9 4 -8 9 4,555.7 4,576.7 4*589.7P IN IT IA L MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 2 3 » 1 9 8 9 8 RETAIL R ATI O SCALE B I L L I O N S OF DOLLARS 1981 1 98 2 SALES RATI O SCALE B I L L I O N S OF DOLLARS SEA SO N A LLY A D JU STED 1983 1984 1985 1986 19 8 7 1988 19 8 9 SOURCE» U .S . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt A P R IL , MAY ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS R E T A IL S A L E S (Compounded A nnual Rates of Change) TERMINAL ^ONTH 10-87 11-87 12-87 11-87 29 12-87 7 9 1-88 2-88 5-88 4-8 8 2-8 8 5-88 4-8 8 5-88 IN IT IA L MONTH DOLLARS 7-88 6-88 8-88 8 .7 151,846 14.5 12.7 16.9 19.5 7.6 8.6 5 .7 155,797 155,077 -6 .5 1.1 9.1 8.1 8.8 7.4 5.7 9 .0 9.0 7-88 7.8 8 .5 7.1 4 .2 8.0 7.4 6.0 8-88 7 4 7 .9 7.2 7 .6 6.5 4.1 6 .9 6.1 4 .7 5 .5 9-88 64 6.8 6.1 6 .5 5.1 2 .9 4 .9 5.9 2.2 154,048 155,010 155,662 156,050 10-88 11-88 12-88 7 5 7 .9 7.4 7 .7 6 .9 5 .2 7 .5 6 .9 6.4 81 8 .5 8.1 8 .5 7.8 6.5 8 .5 8 .5 8.2 2.6 6.6 8.2 20.1 8.8 10.6 17.9 7 5 7 .6 7.2 7.4 6.7 5 .4 7 .0 6 .7 6.5 6.4 7.1 10.5 6.0 1-89 7 5 7.6 7.2 7 .4 6.8 5 .6 7 .0 6.8 6.5 6.6 7.2 9.8 6.5 6.7 6 .5 6 .4 5 .8 4 .6 5 .8 5 .4 4 .9 4 .8 5 .0 6.6 5 .5 6 .5 5 .9 6.0 5 .4 4 .5 5 .5 4 .9 4 .5 4 .5 4 .4 5 .6 2 .9 6 .7 6.5 6 .4 5 .9 4 .9 5 .9 5 .6 5 .5 5 .2 5 .4 6.4 6.0 6.1 5 .6 4 .7 5 .5 5 .2 4 .9 4 .8 5 .0 10-87 11-87 12-87 1-88 2-8 8 5-88 4 -8 8 5-8 8 6-88 7-88 8-88 5-89 4-89 5-89 4-89 150,564 9.5 6.8 7 9 65 61 65 62 5-89 129,870 8 .7 2-89 2-89 4 .7 7.9 6-88 1-89 128,541 8.8 8 0 8.8 7 8 8 .4 5-8 8 MILLIONS OF 9-88 10-88 11-88 12-88 15.1 6 8 8.8 8 7 10.7 10 7 12.8 7 7 1-88 0.4 155,751 - 157,842 159,529 15.7 -2 . 9 2.2 159,189 7 .6 140,040 1.0 -5 .1 0.0 0.9 - 4 .5 2 .4 4.1 2.2 -0 .5 159,428 0.8 5.8 2.2 2.6 6.7 15.0 5 .5 2 .5 4 .8 6 .9 1.2 9-88 10-88 11-88 12-88 1-89 2-89 5-89 4-89 6.6 6.0 159,516 140»942P 141,085E IN IT IA L MONTH P- PRELIM IN A RY E- ESTIM ATED ^ PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS JU N E 15» 1989 H O U R L Y C O M P E N S A T IO N , B U S IN E S S S E C T O R (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) TERMINAL QUARTER 2-84 1977*100 IN IT IA L QUARTER 5-84 4-84 1-85 5-84 4 .4 4-84 4.1 5 .8 1-85 4 .5 4 .6 5 .5 2-85 4 .4 4 .4 4 .6 4 .0 2-85 5-85 4-8 5 1-86 2-8 6 5-86 4-8 6 1-87 2-87 5-87 4-87 1-88 2-88 170.5 172.5 174.2 5-85 4 .5 4 .6 4 .8 4 .6 5.1 4 .7 4 .8 5 .0 4 .9 5 .4 5 .6 4 .5 4 .6 4 .7 4 .6 4 .8 4 .6 176.4 178.8 1-86 2-86 4 .4 4 .4 4 .5 4 .4 4 .5 4 .5 5 .6 5.6 5-86 4 .4 4 .4 4 .5 4 .4 4 .5 4 .5 5 .9 4 .0 4 .5 180.4 5 .6 182.0 184.0 186.2 4-86 4 .5 4 .5 4 .6 4 .5 4 .5 4 .4 4.1 4 .5 4 .7 4 .9 1-87 4 .5 4 .5 4 .5 4 .2 4 .2 4.1 5.8 5.8 5 .9 5.6 2 .4 2-87 4 .2 4 .2 4 .5 4.1 4 .2 4 .0 5 .8 5 .8 5 .8 5.6 5.0 5.7 187.5 189.0 5-87 4 .5 4 .2 4 .5 4 .2 4 .2 4.1 5.9 5 .9 4 .0 5.9 5 .5 4.1 4 .5 4-87 4 .4 4 .4 4 .4 4 .4 4 .4 4 .5 4 .2 4 .2 4 .5 4 .5 4 .2 4 .8 5 .4 6.2 4 .4 4 .5 4 .4 4 .5 4 .5 4 .5 4.1 4 .2 4 .5 4 .2 4.1 4 .5 4 .8 5 .0 5.8 4 .4 4 .4 4 .4 4 .5 4 .4 4 .5 4 .2 4 .2 4 .5 4 .5 4 .2 4 .6 4 .8 4 .9 4 .5 4 .8 4 .5 4 .5 4 .5 4 .5 4 .5 4 .5 4 .4 4 .4 4 .5 4 .5 4 .5 4 .9 5.1 5 .2 4 .9 5 .5 5-88 4-88 168.7 4-85 1-88 2-88 5-88 191.1 194.0 195.8 198.1 6.2 201.1 4-88 4 .5 4 .5 4 .5 4 .5 4 .5 4 .4 4 .4 4 .4 4 .5 4 .5 4 .5 4 .8 4 .9 5 .0 4 .7 5.1 5 .2 4 .2 1-89 4 .5 4 .5 4 .6 4 .5 4 .6 4 .5 4 .4 4 .5 4 .6 4 .6 4 .6 4 .8 5 .0 5.1 4 .9 5 .2 5 .5 4 .8 5 .4 2-84 5-84 4-84 1-85 2 -85 5-85 4-8 5 5-86 4-8 6 1-87 2-87 5-87 4-8 7 5-88 4-8 8 1-86 2-86 1-88 2-88 205.2 205.9 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 1» 1989 O U T P U T P E R H O U R O F A L L P E R S O N S , B U S IN E S S S E C T O R (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 IN IT IA L QUARTER 5-84 1.5 1-85 1.4 2 .5 2-87 1.8 2 .5 2.0 2 .7 1.8 2 .5 2.6 5.1 2.2 2.6 1.8 2.1 1.6 1.8 1.6 1.5 1.6 1.7 5-87 1.7 1.9 1.6 1.8 1.8 4-85 1-86 2-86 5-86 4-86 1-87 2-85 1-86 2-86 5-86 4-8 6 1977*100 1-87 2-87 5-87 4-8 7 1-88 2-88 5-88 4-88 105.9 106.7 5.0 5.0 5.0 5.0 5.0 2 .5 2 .5 1.9 0 .7 5.5 5 .6 5.7 4.1 2.8 2.2 1.8 2.8 2.1 1.6 1.7 1.5 1.6 1.8 107.5 2 .7 1.9 1.4 1.5 5-88 1.5 1.6 1.6 4-88 1.5 1.4 1.4 1.5 1-89 1.5 1.4 1.4 1.5 1.2 1.2 2-84 5-84 4-84 1-85 2-85 1-88 2-88 4 -85 5.1 1.8 2.0 1.8 2.0 1.6 1.6 4-87 5-85 105.5 0.6 5-85 1-85 -0 .4 4-84 2-85 4-84 1.4 1.9 1.4 1.7 1.9 1.6 1.8 1.4 1.5 1.5 1.4 1.7 108.5 2.6 1.6 1.1 1.0 1.2 1.6 1.4 108.5 7 .6 5.5 1.8 1.2 1.0 1.5 110.5 -0 .4 -0 .9 1.1 - 0 . 5 - 0.6 0.1 0.2 - 0.8 1.7 0 .7 1.5 0 .7 1.7 1.0 1.6 1.2 1.2 1.0 1.1 1.1 1.1 5-85 4-8 5 110.4 110.0 -1 .4 - 0 .9 -0 .7 - 0.4 0.7 1.5 2.6 1.5 2 .5 5.5 4 .0 1.5 1.8 2.2 1.2 2 .5 2.2 2.6 2 .7 0 .5 0.8 1.2 0.6 0.8 0.6 1.0 0.8 0.6 0 .7 1.2 0 .5 1.5 0.6 1-86 2-86 109.8 0.2 1.7 109.9 110.6 1.5 1.5 0 .9 1.0 1.1 1.1 1.2 1.1 1.2 0.8 1.0 5-86 4-8 6 1-87 2-8 7 0.9 1.4 111.7 111.8 112.8 111.8 0.4 2.0 0.1 5.6 -0 .9 1.8 0.2 0.0 0.6 0.2 -0 .9 0 .4 0 .5 0.5 -0 .5 0.8 0.4 1.8 5-87 4-8 7 1-88 2-88 5-88 4-8 8 0 .5 -5 .5 112.5 - 1.1 112.0 112.5 IN IT IA L QUARTER PREPARED BY FEDERAL R ESER V E BANK OF S T . LO U IS JU N E 1* 1989 10 P R O D U C T I V IT Y , RA T IO C O M P E N S A T IO N , AND LA BO R SCALE SCALE SEASONALLY AOJUSTEO 1977-100 19 8 1 C O STS R A T IO 1982 1983 1984 1985 1986 1977-100 1987 1988 1989 SOURCEt U.S. DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIODS INDICATED. LATEST DATA PLOTTED« 1ST QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS U N I T L A B O R C O S T S , B U S IN E S S S E C T O R (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 IN IT IA L QUARTER 5-84 5—84 4 .9 4-84 5.6 2 .5 1-85 5.0 2-85 2 .5 2.1 1.8 4-84 1-85 2-85 5-85 4-85 4-86 1977*100 1-87 2-87 5-87 4-8 7 1-88 2-88 5-88 4-8 8 160.8 2.0 1.5 5-85 2 .5 1.9 1.8 2.8 2.4 2 .5 161.6 1.0 1.7 162.0 165.0 2 .5 1.9 1.4 1.2 1.8 1.7 5-86 2.2 2.6 2.6 1.1 1.6 2 .5 2 .5 4-86 2 .9 2 .7 2 .7 2.8 2.6 2.6 2.6 2 .7 5.0 2-87 2 .4 2 .4 2 .5 2 .7 5-87 2 .5 2 .5 2 .5 2 .5 2 .5 2 .5 4-87 2 .7 2 .5 2.6 2.6 2.8 2.8 2.2 2.6 2 .5 2 .4 2 .4 2 .4 2 .5 2 .5 2 .5 1-87 5-86 159.9 4-85 1-86 2-86 1-86 2-86 5.5 4 .5 2 .5 1.1 1.8 2.6 1.6 2.6 0.1 2.0 2.8 5.1 5.2 0.4 -5 .6 165.5 4 .0 164.9 5 .0 6.0 2 .9 5 .2 5 .8 5.0 2.8 4 .4 4 .6 5.9 2.1 2 .7 2 .4 5.7 5.6 2.8 1.4 0.7 5 .2 5.0 2 .5 1.2 0.7 0.7 167.5 5 .6 169.6 170.5 170.8 171.1 5 .5 5.4 5.0 2 .5 2.4 5.2 5 .7 5.1 2 .9 2 .5 1.8 1.8 2.1 2.8 0.0 2 .9 5.7 5 .6 5.5 2 .9 5.1 5 .7 4 .7 4 .2 8.6 5.1 5.7 5 .7 5 .4 5.1 5.5 5.8 4 .6 4 .2 6 .4 4 .4 5.5 5 .5 5 .9 5 .9 5 .7 5.4 5.6 4.1 4 .8 4 .6 6.1 4 .9 5 .5 5.5 5.4 5 .5 5 .9 5.9 5.7 5.4 5.6 4 .0 4 .6 4 .4 5 .5 4 .5 4 .5 5 .6 2-85 5-85 4-8 5 5-86 4 -86 1-87 2-87 5-87 4-8 7 5-88 4-88 1-88 2-88 2 .9 2.8 2.8 2 .9 5.0 5.1 5-88 5 .0 2 .9 2 .9 5.0 5.1 5 .2 4-8 8 5.1 5.0 5.1 5.1 5 .5 1-89 5.1 5.0 5.1 5.2 2 -84 5-84 4-84 1-85 164.8 1-86 2-86 175.5 175.5 177.1 1-88 2-88 179.0 181.4 185.0 IN IT IA L QUARTER PREPARED BY FED ERA L R ESER V E BANK OF S T . LO U IS JU N E 1 . 1989 11 GR O SS N A T IO N A L P R O D U C T IN C U R R E N T D O L L A R S (Compounded Annua) Rates of Change) B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER TERM INAL QUARTER 2-8 4 5-84 5 .8 4 -8 4 5 .5 6.1 6.0 6.2 6.2 1-85 2-8 5 5-84 4-8 4 1-85 2-8 5 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-8 8 5*807.9 4 .7 5*851.8 6 .5 7.9 6.0 6.7 5*925.6 5 .6 5*979.0 1-86 2-86 6 .5 6.4 5 .9 5 .9 5-86 5 .9 5 .9 6.8 6.6 6.8 6.1 6.0 4-8 6 5 .6 5 .6 5 .7 5 .4 5 .4 5.1 4.8 4 .0 4.7 5.4 1-87 5 .9 5 .9 6.0 5 .8 5 .8 5 .6 5 .5 5.1 5.9 5 .9 8 .4 6.1 6.5 5 .8 8 .5 6.5 6.5 6.1 6.6 6.8 6.8 6.4 6.0 6.2 6.0 6 .5 6.1 6.2 6.2 5-87 6.1 6.2 7.0 8.2 8.2 7.7 4-8 7 6.4 6.4 6.6 6.5 6 .5 6.5 6.5 6.4 7.1 7.5 8 .5 8 .5 8.1 8.6 6.5 6.4 6.5 6 .4 6.4 6.4 6.4 6.5 6.8 7.0 7.7 7.6 7.2 7.0 5.4 6.5 6 .5 6.6 6 .5 6.6 6.6 7.1 7.2 7.9 7.8 7.6 7.5 7.0 8 .7 6.7 6.6 6.6 7.1 7.2 7.8 7.7 7.5 7.5 7.1 8.0 7.5 5-85 4-8 5 2-8 7 1-88 2-88 5-88 6 .5 6.5 6 .5 7.0 6.2 6.6 6.8 6.2 6 .5 6.7 7.2 5 .7 5 .7 5 .5 4 .9 2.6 5 .7 5 .8 5 .5 5.2 4 .5 5.9 4*047.0 4*107.9 4*180.4 4*207.6 4*268.4 4*504.6 4*591.8 8 .7 4*484.2 4*568.0 4*662.8 4*724.5 6.7 6.6 6 .7 6.6 6.6 6.6 6.6 6.6 6.7 6.7 6.7 6.7 6.8 6.7 7.1 7.5 7.8 7.7 7.5 7.5 7.2 7.8 7.4 7.6 6.7 6.7 6.8 6.8 6.8 6.8 6.9 6.8 7.2 7.4 7.8 7.8 7.6 7 .6 7.4 7.9 7.7 7.9 8.2 2-8 4 5-84 4-84 1-85 2-8 5 5-85 4-85 5-86 4-8 6 1-87 2-87 5-87 4-87 5-88 4-8 8 5-88 6.5 4-8 8 1-89 1-86 2-86 4*825.8 1-88 2-88 4*909.0 4*999.7 5*099.0 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 22* 1989 G R O S S N A T I O N A L P R O D U C T I N 1982 D O L L A R S (Compounded A nnual Rates of Change) TERMINAL QUARTER 4-84 2-84 5-84 4-8 4 2.6 2.1 1.7 1-85 5.0 5 .5 4 .9 2-8 5 2 .9 5 .0 5.7 2 .4 5-85 5.1 5.5 5.8 5 .5 4.1 4-85 5.1 5.2 5 .6 5 .2 5 .5 5.0 5-84 BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 1-85 2-8 5 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-8 7 1-88 2-88 5-88 4-8 8 5*520.6 5*555.2 5*577.5 5*599.2 5*655.8 5*662.4 1-86 2-86 5.6 5 .7 4.1 4 .0 4 .5 4 .6 6.4 5 .0 5.1 5 .5 5.0 5.1 2.8 2 .7 5-86 2.8 2.8 5.0 2 .7 2 .7 2.4 4-8 6 2 .7 2 .7 2.8 2 .5 2 .5 1-87 2.8 2.8 5 .0 2 .7 2.8 2.2 2.2 2.0 2.6 2 .5 2-8 7 5.0 5 .0 5.2 5 .0 5.1 2.9 2 .9 5-87 5.1 5.2 5.5 5.1 5 .2 5.1 5.1 2.2 2.6 4-8 7 5.5 5 .4 5.5 5 .4 5 .5 5.4 5.5 1-88 2-88 5 .5 5.4 5.5 5 .4 5.5 5.4 5 .5 5.4 5.5 5 .4 5.5 5-88 5 .5 5 .5 5.4 5 .5 5*719.5 0.8 0.1 0.6 1.0 1.2 1.4 1.5 2.5 5.0 5.0 5.7 5.5 5.9 5.1 5.8 4 .5 5.5 5.1 5.7 4 .2 5.4 5.4 5.1 5.6 5.4 5.5 5 .5 5 .0 - 5*711.6 5*721.5 5*754.7 5*776.7 4 .6 5*825.0 5 .0 4 .7 5*865.5 4 .7 4 .5 5 .2 5 .5 6.1 4 .7 4 .8 4 .7 4 .8 5.4 4 .0 4 .4 4 .4 4 .2 4 .2 5.2 5.0 5.5 5.8 4.1 4.1 5 .9 5.7 2 .9 2 .7 2 .5 5*925.0 5*956.1 5*985.2 4*009.4 4-88 5 .2 5 .5 5.4 5 .5 5 .5 5.2 5.5 5.0 5.4 5.6 5 .9 5.8 5.6 5.5 2.8 2.6 2 .4 2 .4 1-89 5 .5 5 .5 5.4 5 .5 5.4 5.5 5.4 5.1 5.5 5.7 4 .0 5.9 5.8 5.6 5.1 5.1 5.1 5 .4 4 .4 2-8 4 5-84 4-84 1-85 2 -8 5 5-85 4-85 5-86 4-8 6 1-87 2-87 5-87 4-87 5-88 4-8 8 1-86 2-86 1-88 2-88 4*055.4 4*077.5 IN IT IA L QUARTER PREPARED BY FEDERAL RESERV E BANK OF S T . LO U IS JU N E 22» 1989 12 G R O S S N A T IO N A L R A TIO SCALE QUARTERLY TOTALS T R I L L I O N S OF D O L L A R S SEASONALLY P R O D U C T R A TIO SCALE T R I L L I O N S OF D O L L A R S AT A NN U A L RATES ADJUSTED 5.4 5.2 5.0 4.8 4.6 4.4 4.2 4.0 3.8 4.8 4.6 4.4 4.2 4.0 3.8 3.6 3.4 3.2 3.0 2 . 8 2 . 6 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCE« U .S . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS IN D IC A TE D . LA TE S T DATA PLOTTED« 1ST QUARTER PREPA RED 13 BY FED ERA L R ESER V E BA N K OF S T . L O U IS GENERAL PRICE INDEX* RATIO SCALE RATIO SCALE 1982-100 1982-100 130 125 120 115 110 105 100 95 90 1981 1982 19 8 3 1984 1985 1986 «AS USED IN NATIONAL INCOME ACCOUNTS 1987 1988 198 9 SOURCE) U .S . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt 1ST OUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS I M P L I C I T P R IC E D E F L A T O R F O R G R O S S N A T I O N A L P R O D U C T (Compounded Annual Rates of Change) TERMINAL QUARTER 2-8 4 IN IT IA L QUARTER 5-84 5-84 5 .4 4-84 5 .2 5 .0 4-84 1-85 2-85 5-85 4-85 4-86 1982 « 100 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 108.2 1-85 5.0 2.8 2.6 5.1 5 .0 5 .0 5 .5 5-85 5 .0 2 .9 2.8 2 .9 2.6 4-85 5 .0 2 .9 2 .9 5.1 2 .9 5.5 2 .7 2.6 2 .5 2 .5 2.2 2.0 0.7 109.7 110.6 111.5 112.2 112.4 2.8 2 .7 2 .7 2 .7 2 .5 2 .5 2.2 5.6 5-86 5 .0 5 .0 5 .0 5 .0 5.0 5.1 5.0 4.1 4 .7 4-86 2 .9 2 .9 2.8 2 .9 2.8 2 .9 2.8 5.5 5.4 1-87 5 .0 2 .9 2 .9 5 .0 2 .9 5.0 2 .9 5.5 2-87 5 .0 5 .0 5 .0 5 .0 5 .0 5.0 5.0 5-87 5 .0 5 .0 5 .0 5 .0 5.0 5.1 5.0 4-87 5 .0 2 .9 2 .9 5 .0 2 .9 5.0 2 .9 2 .9 2.8 2 .9 2.8 5 .0 5 .0 5 .0 5.1 5-88 5.1 5.1 5.1 4-88 5 .5 5 .5 1-89 5 .5 2-8 4 1-88 2-88 5-86 109.0 2-85 1-86 2-86 1-86 2-86 115.4 114.7 5.4 2.1 2.8 5.5 5.5 5.4 5.0 5.5 5 .5 5.4 5.4 5.1 5.4 5.5 5.1 2 .9 5.5 5.2 2 .9 5.1 5.0 2 .7 2 .4 2.8 2.8 5.1 5.0 2 .7 2.8 2 .7 2 .4 2.0 1.7 5.0 5.1 5.1 5.5 5.5 5.1 5.5 5 .2 5.2 5.2 5.6 5 .5 5 .2 5 .2 5.2 5.2 5.5 5.5 5.5 5.5 5 .5 5.5 5 .6 5.9 5.1 4 .7 5 .5 5 .5 5.5 5.4 5.4 5.6 5.6 5.5 5.7 5.7 5 .8 5.9 4 .5 5 .2 5 .0 5 .5 5 .5 5 .5 5 .5 5.5 5.4 5.4 5.6 5.6 5.5 5.7 5.7 5.7 5 .9 4 .2 4 .8 4 .5 4 .5 5.6 5-84 4-8 4 1-85 2-8 5 5-85 4-85 5-86 4-8 6 1-87 2-87 5-87 4-87 5-88 4-88 1-86 2-86 115.5 116.5 117.5 118.2 118.9 119.4 121.0 1-88 2-88 122.4 124.0 125.1 IN IT IA L QUARTER PREPARED BY FEDERAL RESERV E BANK OF S T . LO U IS JU N E 22» 1989 14 P E R S O N A L C O N S U M P T IO N E X P E N D IT U R E S IN C U R R E N T D O L L A R S (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 5 4-84 64 7 .2 1-85 7 7 8 .7 7 4 7.7 1 5-86 7 5 4-86 7 1-87 7 2-87 7 4 5-87 7 5 4-87 7 5-85 1-86 2-86 7 5 7 1-85 2-8 5 5-85 4-8 5 1-86 2-8 6 5-86 4-86 1-87 2-87 2-88 5-88 4-88 2 1 2 ,5 5 4 .9 2 ,5 9 9 .5 8 .7 7.1 9.1 8 .5 9 .9 8 .5 7.7 7.9 6.0 7.8 7.2 7.2 5 .9 5 .8 7.5 7.5 6.7 6.6 5 .6 5 .4 4 .9 7.7 7.8 7.4 7.4 6.8 7.1 7.7 7.4 7.4 7.0 7.0 6.4 6.5 6.7 7 .6 4.8 7.5 7.5 6.9 6 .9 6.4 6.5 6.7 7 .5 5.6 7.5 7.6 7.5 7.5 6.9 7.1 7.5 7.9 7.1 8.2 10.0 7.7 7.7 7.5 7.5 7.2 7.4 7.6 8.2 7.6 8 .5 9.6 9.1 5 .7 2 ,6 6 1 .4 2 ,7 0 0 .4 2 ,7 5 9 .0 2 ,7 7 2 .1 10.6 2 ,8 4 2 .8 2 ,8 7 6 .0 2 ,9 2 1 .7 6.5 2 ,9 9 2 .2 7.5 7.0 7.0 6.7 6.7 6.9 7.2 6.5 7.0 7.1 7 .2 7.2 7.0 7.0 6.7 6.8 6.9 7.1 6.6 7.0 7.1 7 .5 7.5 7.1 7.1 6.9 7.0 7.1 7.4 6.9 7.5 7.4 6.1 6.8 5-88 7 5 7 .4 7.4 7.2 7.2 7.0 7.1 7.2 7.5 7.1 7.4 7 .6 7.1 4-88 7 4 7 .5 7.5 7.5 7 .5 7.1 7.2 7.5 7.6 7.2 7.5 7.7 1-89 7 5 7.4 7.4 7.2 7 .2 7.1 7.1 7.2 7 .5 7.1 7.4 7.5 2-84 5-84 4-84 1-85 2-85 5-85 4-85 5-86 4-86 1-87 7 1-88 2 .4 9 5 .4 7 .5 7 4 -8 7 10.2 1 1 2 1-88 2*-88 5-87 2 ,4 5 0 .5 8.2 8 0 8.6 7 7 8.1 4-85 4-84 6 5-84 2-85 B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 1-86 2-86 5 ,0 5 8 .2 5 ,0 7 6 .5 2 .4 4 .6 5 ,1 28.1 6 .9 8.8 8 .7 8.6 7.5 6.0 7 .8 6.6 8.1 7 .0 8.1 8 .5 8 .4 8.2 7.2 6 .9 7.8 8.0 7.7 7.5 6.4 2-87 5-87 4-8 7 5-88 4-8 8 5 ,1 9 4 .6 1-88 2-88 5 ,2 6 1 .2 5 ,5 2 6 .4 5,5 7 8 .1 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 22» 1989 P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S I N 1982 D O L L A R S (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 1.9 1-87 4-86 2-87 5-87 4-8 7 1-88 2-88 5-88 4-8 8 2 ,2 5 7 .5 4-84 5.1 4 .5 1-85 4 .5 5 .6 6.8 2-85 4 .0 4 .8 5 .0 5.2 5-85 4 .6 5 .5 5 .6 5 .0 6.8 4-85 4.1 4 .6 4 .6 5.9 4 .5 1.9 4 .7 4.1 4 .5 5.5 4 .8 2 ,2 8 1 .1 2 ,5 1 9 .1 2 ,5 5 7 .4 2 ,5 7 5 .9 2 ,5 8 6 .9 1-86 2-86 4 .2 4 .6 4 .2 4 .6 4 .6 4 .2 4 .4 5.7 4 .6 4 .5 5-86 4 .5 4 .8 4 .9 4 .5 4 .8 4 .5 5 .2 5 .5 4-86 4.1 4 .4 4 .4 4.1 4 .2 5.7 4 .2 5.9 5 .7 1.2 1-87 5.8 4 .0 4 .0 5.6 5 .7 5 .2 5 .4 5.1 2 .7 0.9 0.6 2-87 5 .9 4 .0 4 .0 5 .7 5 .8 5.5 5.6 5.5 5.1 2.0 2 .5 4 .5 5-87 5 .9 4.1 4.1 5.8 5 .9 5 .5 5 .7 5.6 5.4 2.7 5.2 4 .5 4 .6 4-87 5 .5 5 .6 5.5 5 .2 5.2 2 .9 5 .0 2 .7 2 .5 1.7 1.8 1.2 5 .5 5.7 5.6 5.5 5.4 5.0 5 .2 5 .0 2.2 2 .4 2.5 2 .5 2.2 2.8 2.8 2.5 2 .7 5 .0 1-88 2-88 BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 2 ,4 1 5 .1 2 ,4 4 0 .9 6 .5 5 .5 5 .6 5.6 5 .5 5.5 5.0 5.1 5.0 2.8 2.8 5-88 5 .5 5.6 5.6 5.4 5.4 5.1 5.2 5.1 2 .9 4 -88 5 .5 5 .6 5.6 5.4 5 .4 5.1 5.2 5.1 5 .0 1-89 5.4 5.5 5.5 5 .2 5.2 5 .0 5.1 2 .9 2.8 2 -84 5-84 4-84 1-85 2-85 5-85 4-8 5 1-86 2-86 2 ,4 7 8 .6 2 ,4 8 6 .2 2.6 2.8 2.5 2.6 5-86 4-86 2 ,4 9 0 .2 2 ,5 1 6 .6 2 ,5 4 5 .2 4 .5 2 .5 2.1 1.2 1.8 5 .8 5 .0 2.8 2 .5 5 .8 5 .5 5 .9 5.1 2 .9 2 .5 5 .7 5 .5 5 .7 5 .5 2 .9 2 .7 2 .5 5 .2 2 .9 2 .9 2 .4 1.5 1-87 2-87 5-8 7 4 -8 7 5-88 4-88 2 .5 - 2 ,5 5 1 .7 2 ,5 5 9 .8 2 ,5 7 9 .0 1-88 2-88 2 ,6 0 5 .8 2 ,6 2 6 .2 2 ,6 5 4 .9 IN IT IA L QUARTER PREPARED BY FED ERA L R ESER V E BANK OF S T . LO U IS JU N E 22» 1989 15 G R O S S P R IV A T E D O M E S T IC IN V E S T M E N T I N C U R R E N T D O L L A R S (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) B IL L IO N S OP TERMINAL QUARTER 2-8 4 5-84 4-8 4 5-84 5 .7 4-84 -0 .7 -5 .0 1-85 -5 .0 - 9 . 0 -1 2 .9 2-85 - 5-85 -4 .5 4-8 5 - 1.8 1.0 1- 8« 2- 8« -5 .« -2 .9 -« .5 -7 .0 -1 .9 - 4-87 1-88 2-8 8 5-88 4-88 652.5 0.6 7.1 5 .« 2 .4 20.0 8.8 1.4 0.1 4 .2 1.5 0.4 -0 .4 0. « 0.8 18.7 654.1 686.6 21.4 4 .2 -1 0 .5 667.8 8.6 0.2 - 9 .5 - 5.8 0.4 -5 . 8 -5 .4 - - 655.0 0.2 5.5 2*1 10*2 4 .5 1.4 4.6 9*4 15.2 7.8 5 .9 4 .2 1.6 4.2 7.6 9.5 5.1 2 .5 6.6 9.5 8.1 6.4 9.5 15.5 16.5 15.7 19.9 40.5 6.1 5 .9 8.2 7.1 5 .4 7.9 11.4 12.6 18.0 4 .0 5 .4 5 .1 7.2 8 .4 8 .5 4 .2 5 .6 5 .5 7.2 8 .5 8 .4 5 .4 5.9 5 .2 4 .9 5 .7 4 .2 5 .4 5 .2 6.6 6.8 5-84 4 -8 4 1-85 2-85 5-85 5 .« 2 .9 6.2 5.8 4 .0 5 .5 6.4 1. « 1. « 2.2 2.2 5 .9 5.4 4.1 4.1 4 .9 « .7 5 .8 5 .8 4 .5 5.4 5.5 5 .« 5.6 4 -8 8 5.4 1-89 5.7 2-8 4 1.2 0 .9 2-8 7 1.7 1 .5 5-87 1.8 4 -87 5-88 5-87 626.7 7.4 -0 .9 1-87 1-88 2-88 DOLLARS 2-8 7 - 5 . 9 -1 4 .8 5.1 - -0 .5 1 -8 « 659*5 1.2 -1 .5 4 -8 « 4-85 8 .4 5 .0 0.5 - 5-85 661.8 0.8 5 -8 « 2 -8 5 670.5 1. « - 0.2 1.9 1-85 IN IT IA L QUARTER AflttJAL RATES 2-84 5 -8 « 4 -8 « 1-87 6.1 6.2 4 .5 6.5 4 .8 6.7 11.0 12.8 8 .9 10.1 8.8 9.8 685.5 698.5 702.8 764.9 0.8 10.6 - 1.8 - 9 .9 765.4 -2 .7 1.5 2 .4 758.1 7.8 772.5 6*0 6*2 7.7 8 .4 7.0 6.9 7 .8 0.9 1.5 5.7 -0 .5 7.9 8 .5 7 .5 7.2 8.0 2 .5 5.5 5 .5 4 .5 9.0 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 5-88 4-88 5 .7 4.4 5 .9 4.7 4-85 656.4 18.9 1-88 2-88 772.0 788.9 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS JUNE 22» 1989 m2 D O L L A R S G R O S S P R IV A T E D O M E S T IC IN V E S T M E N T IN (Compounded A nnual Rates of Change) TERMINAL QUARTER 2-8 4 5-84 4-8 4 5-84 4—84 - 0.8 4-85 1-86 2-86 2-87 5-87 4-87 1-88 2-88 5-88 4-88 655.7 -5 .0 8.8 -4 .9 - -1 .7 -5 .5 -2 .5 5-85 -4 .9 -6 .9 -7 .6 - 1.1 1-86 2-86 -0 .5 5-86 - 1-87 5-85 664.2 1-85 4 -8 6 2-8 5 BILLIONS OF DOLLARS 5.6 2 -8 5 4 -8 5 1-85 IN IT IA L QUARTER ANNUAL RATES 5-86 4 -86 1-87 - 1.7 2.1 - 2.6 -0 .7 2-8 7 0.1 5-8 7 0 .4 4-8 7 2.8 2.0 -1 2 .4 - 1.0 2.8 -5 .5 - 1.1 0.2 0.2 2 .7 8.6 647.5 618.1 - 5 . 0 -1 7 .0 1.2 2 .9 0.2 20.8 2 .7 6 .9 6 .5 -0 .4 2.2 - 1.4 - 654.5 -2 .5 -0 .7 -5 .0 - - 0.6 1.6 0 .9 20.5 648.0 678.0 19.8 0 .7 7.4 -2 .5 1.5 - 4 .2 -1 4 .5 -1 4 .2 0.2 - 4 . 9 -1 1 .9 - -5 .2 - 0.1 1.0 - 5.0 1.5 -1 4 .4 10.6 - 0.2 - 4 .7 - 1.2 1.2 - 2.1 1.2 1.9 1.7 - 1.0 627.6 616.5 -6 .9 6.1 20.9 7.0 14.6 6 .4 646.4 0 .7 1.8 2.1 1.4 4 .0 5.4 5 .0 4 .6 7.5 5 .8 5.9 7.5 12.2 17.6 16.5 20.5 58.6 6.6 10.5 14.5 12.8 14.1 19.1 4.7 7.7 10.4 8 .4 8 .5 9 .5 4.9 7.6 9.8 7 .9 8 .7 0 .5 5.8 1-88 2-88 2 .7 2 .7 5.5 4 .7 4 .4 6.8 5 .4 5.7 2.1 2.0 2 .5 5 .8 5 .4 5.4 4 .0 2 .4 5-88 2 .5 2 .5 2.8 5 .9 5 .6 4-8 8 1.9 1-89 5.5 4 .2 2 .5 3 .5 5 .0 4 .7 5.4 2.8 2.1 2.2 1.8 2.1 2.6 5 .6 5 .5 4.9 5.7 2 .5 2-8 4 5-84 4-8 4 1-85 2-8 5 5-85 4-85 652*1 5.9 4.2 1-86 2-86 11.5 8.8 6.8 4 .8 8.1 6.1 660.1 6.1 6.2 7.8 6.5 5 .9 5-86 4-86 1-87 2-8 7 7.9 5 .7 667.9 724.7 728.9 2 .5 - 2.6 0.8 5 .9 - 1.0 - 2.2 6.1 0.6 0.2 5-87 0 .5 4 -87 715.1 -7 .4 - 726.1 6.5 0.6 2.8 1-88 2-88 717.1 -4 .9 1.1 7 .5 5-88 4-88 750.2 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LO U IS JU N E 22» 1989 16 G O V E R N M E N T P U R C H A S E S O F G O O D S A N D S E R V IC E S I N (C o m p o u n d e d A n n u a l R a te s o f C h a n g e ) C U R REN T D O LLA R S B IL L IO N S OF TERMINAL QUARTER 2-84 5-84 4—84 6.0 8.0 9.9 1-85 8 .9 10.4 2-85 9.0 3-85 11.2 4-85 10.7 5-84 1-86 2-86 3-86 8 .4 8 .7 8 .4 4-84 1-85 5-85 4-8 5 1-86 2-86 DOLLARS 2-87 5-87 4-8 7 1-88 2-88 5-88 4-8 8 746.6 764.5 10.8 10.0 10.0 784.4 9.1 80 1.7 20 6 11.6 12.1 12.5 14 2 8.1 8.8 8.6 8.1 7 1.8 8 9.0 8 .9 8 .5 4 .6 8 .7 8 .5 8.1 7 5 .0 7.9 7.7 7.2 6 4 .4 84 0.2 12.5 15.4 14.7 4-86 7.7 1-87 7.8 7.9 7.7 7.5 2-87 7.6 7.7 7.5 7.1 3-87 7.6 7.7 7.5 7.1 4-87 7.5 7.6 7.4 7.1 1-88 2-88 2-85 IN IT IA L QUARTER ANNUAL RATES 5-86 4-86 1-87 6.9 7.0 6.9 7.0 6.7 3-88 6.3 6.4 6.8 6.1 4-88 7.0 7.1 6.9 1-89 6.9 7.0 2-84 5-84 6.4 6.5 7 6 6 6 62 62 856.7 847.8 - 4 .1 2.8 868.8 10.5 5 .0 4 .4 8.2 6.1 6.6 5 .0 4 .5 6.4 5 .4 5 .2 6.7 5 .4 5 .5 4 .9 6.5 5 .8 5.7 6.9 6.4 7.4 5 .5 5 .2 6.5 5 .9 5.9 6.9 6.5 7.0 5 .9 5.5 6.1 88 1.8 4.1 2.1 5 .4 5.1 8.0 88 6.5 905.8 915.7 952.2 4 .8 4 .5 5 .6 4 .9 4.7 5 .5 4 .6 4.5 6.6 2.8 5 .0 4 .7 5 .8 5 .2 5.1 5 .6 5.1 5 .0 4 .2 5 .0 7.1 5 .8 5 5 4 .4 4 .0 64 64 5 .4 5 .2 6.8 6.6 6.6 5 .4 5 .2 4-84 1-85 2-85 5-85 4-85 4 .9 6.1 6.1 -0 .9 961.6 2.6 5.8 5.4 2 .5 1.1 2.1 5 .8 5 .9 5 .6 5 .5 7 .4 7 .6 18.9 5.6 6.1 6.0 5 .8 5.8 5 .6 5 .4 7.0 6 .9 12.1 5 .6 5-86 4-86 1-87 2-87 5-87 4-8 7 5-88 4-8 8 4 .5 4.1 5 .7 5.6 5 .7 1-86 2-86 947.5 945.2 4 .4 - 955.5 1-88 2-88 997.5 1*011.5 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 22» 1989 G O V E R N M E N T P U R C H A S E S O F G O O D S A N D S E R V IC E S I N 1982 D O L L A R S (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 5-84 2.6 4-84 5.9 5 .2 1-85 5 .0 6.2 2-85 5 .4 6.5 5-85 8.1 9.5 4-84 1-85 2-85 5-85 5-87 4-87 1-88 2-88 5-88 4-88 6.9 7.0 7.9 11.0 8.6 5.1 5 .5 5 .6 705*5 716.7 6.5 15.0 19.8 9 .0 10.5 5.1 4 .7 749.8 5 .6 6.1 6.2 6.0 5 .9 5 .5 5 .8 5 .9 5 .7 5 .6 2 .5 4-86 5 .5 5 .6 5 .7 5 .5 5 .5 - 1-87 4 .8 5 .0 5 .0 4 .7 4 .4 2.6 2.0 2-87 4 .5 4 .5 4 .4 4.1 5.8 1.7 5-87 4 .4 4 .6 4 .5 4 .5 4 .0 2.2 4-87 4 .5 4 .6 4 .6 4 .5 4.1 2 .5 5.6 5.7 5.5 5.2 5 .0 1.4 5.6 5.7 5.6 5 .5 5.0 1-88 2-88 2-87 695.2 7.5 5-86 1-86 2-86 1-86 2-86 BILLIONS OF DOLLARS 684.5 1.6 2.1 1.6 4-85 4-85 IN IT IA L QUARTER ANNUAL RATES 5-86 4-86 1-87 5-88 5.1 5.1 5.0 2 .7 2 .4 4-88 5.5 5.6 5.5 5 .5 5 .0 1-89 5.4 5.5 5.4 5.1 2 .9 1.6 1.0 1.8 1.8 2-84 5-84 4-84 1-85 2-8 5 3-85 752.7 741.8 -5 7 1 6 9.5 2 5 6.9 2 9 5 .9 2 1 4 .2 1 7 3.5 2 3 5.7 2 6 5.9 1 4 2 .5 1 6 2 .5 1 0 1.7 1 9 2.6 1 8 2 .5 4-8 5 758.8 766.9 4 .5 4 .2 4 .0 774.5 0.8 0.6 2 .5 1.6 - 1*8 0.9 - 2 .5 2.1 1.4 2.6 5 .7 2 .9 2 .7 2 .5 5.4 5 .4 5 .0 1.5 0.8 0.5 0.7 -1 .7 1.6 1.5 0 .9 0.4 0.2 0.8 - 0.1 1.1 0.1 1.9 1.9 1-86 2-86 1.6 1.6 5-86 772.9 -0 .4 772.2 782.9 1.5 1.7 0.2 0.1 - 1.2 2.0 1.5 1.5 1.6 1.9 4-8 6 1-87 2-87 1.5 792.6 -7 .9 - 2.2 776.4 5 .9 785.8 -5 .2 -0 .7 -5 .2 0 .4 5 .5 5 .0 11.9 1.5 0.6 2.8 2 .5 6.5 1.4 5-87 4-8 7 5-88 4-88 1-88 2-88 775.5 795.5 798.2 IN IT IA L QUARTER PREPARED BY FED ERAL R ESER V E BANK OF S T . L O U IS JU N E 22» 1989 17 D IS P O S A B L E P E R S O N A L IN C O M E I N C U R R E N T D O L L A R S (Compounded A nnual Rates of Change) TERMINAL QUARTER BILLIONS OF IN IT IA L QUARTER 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-8« d o ll a r s 1-87 2-87 5-87 4-87 1-88 2-88 ANNUAL RATES 5-88 4-88 5-84 2 ,691*1 1-85 6*6 6*2 5 .5 5 .4 2 -8 5 7*9 8.0 9.1 15.1 5-85 5*9 5 .5 5 .5 5 .5 4-8 5 6*4 6.1 6 .5 6.6 5.5 8.6 1-86 2-86 6.8 6.8 6 .7 6 .9 7 .5 5 .4 9.0 6 .7 6 .9 7 .2 5 .8 8 .4 5-86 6 .5 6.2 6 .4 4-8 6 6.1 5 .9 6.2 6.0 1-87 6.5 6 .4 6 .5 2-8 7 6.1 5 .9 6.0 6.1 6.6 6.0 5-87 6 .5 6.5 6 .4 5 .6 4-8 7 6 .7 6.2 6.6 6.2 6.6 6 .7 6.8 6.2 7.1 6 .7 6 .7 6.8 6 .9 6.5 1-88 2-88 5*7 2,728*6 2 ,7 6 4 .6 2 ,8 5 0 .7 -1 .5 2 ,8 4 0 .0 2 ,8 9 9 .5 9*4 2,9 6 5 .1 5.1 8.2 6.8 6.2 4 .6 2.2 4 .9 6.5 5 .7 4 .5 5.2 4 .5 5 .8 7.0 6.7 6 .0 5.7 7 .5 10.7 5 .8 5.1 4.6 5 .4 5 .9 1.5 6.5 5 .8 5.5 6.5 7.0 5 .2 9.5 6 .9 6.6 6.5 7.4 7.4 10.5 11.8 7.2 7.0 6.7 6.6 7.4 8.2 8.0 7.4 9 .5 9.6 7.6 7.0 8 .5 7.6 8 .9 7.7 5 .2 7.1 5,0 1 6 .5 5,0 5 2 .4 6 .7 6.8 6.5 7*0 6.8 6.6 6.5 7.1 6 .9 7 .0 6.6 7*5 7.2 7.0 6.9 7.5 5 ,0 64.7 5,1 4 5 .9 5,154.1 5,2 2 4 .9 5,5 1 5 .8 7.4 8.0 8 .9 9.0 5-88 6 .9 4-8 8 7 .0 7 .0 7 .0 7 .2 6 .7 7*4 7 .5 7.1 7.1 7.7 8.0 8.1 1-89 7 .2 7 .2 7.5 7 .4 7.1 7*7 7.6 7 .5 7.5 8.1 8 .5 8.2 9.2 9.2 8 .7 2-8 4 5-84 4-8 4 1-85 2-8 5 5-85 4-85 5-86 4-86 1-87 2-87 5-87 4-87 1-86 2-86 5,5 7 5 .6 8.2 6.5 8.8 7.8 8.8 8.0 6.6 6.8 6 .7 5 .6 5,421*5 10.4 5,507*5 8.8 10.2 10.1 8 .5 9.6 1-88 2-88 5-88 5,582*5 11.4 5,680*6 4-88 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS JUNE 22, 1989 D IS P O S A B L E P E R S O N A L I N C O M E I N 1982 D O L L A R S (Compounded A nnual Rates of Change) TERMINAL QUARTER 2-8 4 5-84 5-84 4-84 1-85 2 -85 5-85 4-85 1-86 2-86 5-86 5*7 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 2,479*2 4 -84 5.5 2.8 1-85 2 .9 2 .5 2.1 2-85 4 .4 4 .6 5 .5 8 .9 2,496*5 2,509*4 5-85 2.6 2 .5 2.1 4 -85 2 .9 2 .7 2 .7 2.1 2.8 1-86 2-86 5 .6 5 .6 5 .8 4 .0 4 .0 4 .2 5-86 5 .5 5 .5 4-86 5.1 1-87 5 .2 2,565*5 2,555*4 -4 .5 0.1 4*4 4 .2 2 .7 6*5 8 .5 4 .6 5.6 6*4 7.4 6.5 5 .5 5 .5 2 .5 4*5 4 .2 2 .5 - 5 .0 5 .0 5 .2 5*6 5.4 1.8 -0 .5 5 .2 5 .2 5 .5 2.2 2.6 5.8 5.6 2 .5 2 .5 2 .5 1.7 2.6 2 .5 - 2 ,5 6 2 .8 2 ,6 5 5 .9 1.8 2 ,6 4 5 .9 0.8 2 ,6 4 9 .4 5.4 5.5 5 .2 2.8 2.8 5.4 5 .5 2 .9 2 .5 5 .0 5 .5 5.1 4 .4 4 .5 5.6 5 .2 4 .9 4*1 5 .5 5 .4 5.1 5.6 5.6 5.2 2.9 5.5 5.6 5 .5 4 .6 4 .6 4.1 5 .9 5 .5 5*1 6*1 4-8 4 1-85 2 -8 5 5-85 4-8 5 5-86 4-86 1-87 2 -87 5-87 4-87 5-88 4-88 5-87 2 .7 2 .7 2 .7 2.1 2 .9 2 .7 4-87 5 .0 5 .0 5 .0 5.1 2 .5 5.5 5.2 1-88 2-88 5 .2 5.1 5 .2 5 .5 2.8 5.5 5 .4 5 .0 2 .9 2 .9 5 .0 2 .5 5.2 5 .0 5-88 5.1 5.1 5.1 5 .2 4-88 5 .2 5.1 5 .2 1-89 5 .5 5 .5 2-8 4 5-84 2 ,6 1 4 .5 1.2 2 .7 1.2 - 0.1 0.4 1.8 0.8 1.5 1.8 2.6 2 .5 2.8 2.5 5 .0 2.0 2 .5 2 .5 2.8 2.4 2 .9 2.6 2.8 2-87 BILLIONS OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 2 .5 1-86 2-86 4 .6 0.5 2 ,6 7 9 .6 -5 .9 2 ,6 5 2 .8 2 ,6 8 5 .9 1.7 0 .5 4 .8 5.0 2 .5 5 .8 6 .9 5.4 5.1 5 .5 5 .9 5 .0 2.8 2 .5 4.1 5.9 2 .5 5.2 5 .0 4 .4 4 .5 2 ,7 2 8 .9 2 ,7 6 2 .5 5.5 0.0 2.8 5 .6 2 ,7 6 2 .2 1-88 2-88 2 ,8 0 0 .4 2 ,8 2 8 .4 2 ,8 7 0 .8 IN IT IA L QUARTER PREPARED BY FEDERAL RESERV E BANK OF S T . LO U IS JU N E 2 2 , 1989 18 C O R P O R A T E P R O F IT S A F T E R T A X E S (C o m p o u n d e d A n n u a l R a le s o f C h a n g e ) TERM INAL QUARTER 2-84 5-84 4-84 5-84 -2 5 .5 4-84 -1 5 .2 1-85 -2 4 .2 -2 4 .6 -5 9 .4 2-85 -1 7 .9 -1 5 .9 -2 0 .4 5-85 - 4-8 5 1-86 2-86 - -5 .5 11.0 - 8.8 - 6.6 5-86 -5 .7 -5 .2 4-86 - 5 .6 - 1-87 -5 .9 -1 .7 2-8 7 -2 .5 - 5-87 - 0 .5 4-87 - 1-88 2-88 -0 . 5 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 6.1 -8 .9 1.1 1-85 141.4 - 11.8 - 8.6 -7 .2 B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 1.1 0.1 159.2 122.8 4 .6 124.2 129.2 -9 .5 10.7 17.1 -2 .9 15.7 18.5 -9 .5 0.5 -6 .7 1.7 1.1 1.0 -2 .7 5 .5 5 .4 2.6 155.2 125.2 -9 .1 -5 1 .0 - 5 . 9 -1 4 .0 6.9 7 .2 5 .4 1.2 5 .0 5.1 5.2 0.5 6 .4 5 .2 2 .9 7.6 5 .9 5 .5 5.8 6 .9 6.0 4 .5 9.4 8 .7 7.7 9.4 8 .5 9.7 8 .9 2.6 8.2 0.9 6.4 I *5 1*6 2.2 6.8 1.9 6.6 8.6 6.6 - 1.8 5 .8 4 .6 9.0 5-88 2 .7 4 .6 5 .5 9.6 4-88 5.2 5.1 5 .8 9.8 10.0 10.2 1-89 2.8 4 .5 5 .2 8 .9 9.2 8.6 7.8 2-84 5-84 4-84 1-85 2-8 5 5-85 4-85 125.4 7.5 2.6 15.8 2.0 16.2 0.2 10.0 -0 .5 - - 19.9 152.6 25 .0 157.9 20.9 17.0 10.9 4.4 11.5 12.5 8.6 4 .7 17.6 15.8 15.1 12.7 11.4 21.7 26.0 10.5 7.8 5 .7 10.2 6.6 -9 .8 10.5 8 .5 6.6 10.5 7.9 - 15.2 15.9 12.4 11.7 15.8 15.5 11.9 24.7 40.7 15.5 14.2 12.9 12.4 15.9 15.6 15.1 22.0 28.1 16.7 15.5 14.1 15.0 12.5 15.6 15.2 15.2 19.8 25 .0 15.0 15.4 11.9 12.5 11.1 10.5 12.9 12.2 10.1 14.5 15.5 8.2 4 .2 -4 .5 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-8 7 1-88 2-88 5-88 4-8 8 10.1 10.1 - 6.8 155.5 141.1 149.5 145.7 0.1 10.6 149.4 162.7 169.1 174.5 172.6 IN IT IA L QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS JUNE 22» 1989 HISTORICAL SOURCES OF RATIONAL INCOME AND PRODUCT ACCOUNTS DATA Estimates for the series in the regular quarterly presentation of NIPA tables for 1985-88:11 are published in the July 1988 Survey of Current Business. Data for 1984 is in the July 1987 Survey of Current Business and 1983 is in the July 1986 Survey of Current Business. Estimates for NIPA series for 1929-82 are published in The National Incoroe and Product Accounts of the United States. 1929-82:_Statistical Tables. For further information and prices, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. 19 I N V E N T O R I E S COMPARED W I T H MONTHLY S A L E S MANUFACTURING AND TRADE .7 2 . 6 8 .64 .60 .56 .52 .48 .44 .40 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCE: U.S.DEPARTMENT OF COMMERCE "BEGINNING IN 1982, INVENTORY DATA REFLECT CHANGES IN ESTIMATION PROCEDURES. SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS. LATEST DATA PLOTTED: APRIL PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 20 .36
@FedFRASER