Full text of National Economic Trends : June 1989
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N a t io n a l E c o n o m ic T r e n d s June 1989 R e c e n t c h a n g e s in v a r io u s p r i c e m e a s u r e s a p p e a r t o p r o v i d e w i d e l y d is p a r a t e s ig n a ls a b o u t t h e c o u r s e o f in f la t io n . T h e G N P i m p l i c i t p r i c e d e f l a t o r r o s e a t a 3 . 9 p e r c e n t a n n u a l r a t e i n t h e f i r s t q u a r t e r o f t h is y e a r , d o w n f r o m its 5 . 2 p e r c e n t ra te o f in c r e a s e o v e r th e p r e v io u s th r e e q u a r te r s . M e a n w h ile , th e G N P fix e d -w e ig h t p r ic e in d e x (b a s e d o n th e 1 9 8 2 c o m p o s i t i o n o f r e a l G N P ) r o s e a t a 5 . 2 p e r c e n t r a t e i n t h e f i r s t q u a r t e r , u p s l i g h t l y f r o m it s 4 . 8 p e r c e n t r a t e o v e r t h e p r e v i o u s th r e e q u a r te r s . In c o n tr a s t to th e s e t w o m e a s u r e s , o v e r a ll p r o d u c e r a n d c o n s u m e r p r ic e in c r e a s e s h a v e a c c e le r a te d m a r k e d l y t h is y e a r c o m p a r e d w i t h t h e l a s t n i n e m o n t h s o f 1 9 8 8 . A s t h e t a b l e b e l o w i n d i c a t e s , h o w e v e r , w i d e s w i n g s in c o n s u m e r a n d p r o d u c e r p r i c e s o f t e n a r e a s s o c ia t e d w it h s iz a b le c h a n g e s in f o o d a n d e n e r g y p r i c e s . T h e r e c e n t j u m p in p r o d u c e r a n d c o n s u m e r p r i c e s i s d u e c h i e f l y t o s h a r p i n c r e a s e s i n b o t h o f t h e s e c o m p o n e n t s . R a t e s o f i n c r e a s e in p r o d u c e r a n d c o n s u m e r p r ic e s e x c lu d in g f o o d s in c e M a r c h a n d e n e r g y , m u c h lik e th e G N P f i x e d - w e i g h t p r i c e i n d e x , h a v e b e e n r e la t iv e ly s t a b le 1 9 8 8 , a n d , in th e c a s e o f c o n s u m e r p r i c e s , s in c e D e c e m b e r A n n u a l R a tes o f P r ic e 1986. C han ge D ec. 1988- M a r. 1988- A u g. 1987- D ec. 1986- A p r. 1989 D ec. 1988 M a r. 1988 A u g . 1987 i 'o d u c e r p r i c e s F i n is h e d g o o d s F in is h e d e n e r g y g o o d s 9 .0 % 3 .9 % 1 .8 % 3 .4 % 5 7 .8 -2 .2 -8 .0 F ood 8 .0 5 .6 2 .0 0 .3 E x c lu d in g f o o d an d e n e r g y 3 .8 4 .2 3 .3 2 .0 6 .6 % 4 .6 % 2 2 .2 C o n s u m e r p r ic e s A l l it e m s E nergy 3 .5 % 5 .1 % 2 2 .5 3 .4 -1 1 .2 2 1 .1 F ood 7 .6 6 .0 3 .3 3 .2 E x c lu d in g fo o d an d e n e r g y 4 .6 4 .5 4 .5 4 .3 N O T E : A l l ra te s a r e c o m p u t e d f r o m s e a s o n a lly a d ju s t e d d a ta e x c e p t f o r th e c o n s u m e r e n e r g y m e a s u r e . -C o u rte n a y C . TIIK FEDERAL RESERVE R A N K of ST. I/HIS views expressed do not necessarily reflect official positions of the Federal Reserve System. S to n e TOTAL CIVILIAN E M PLOYM ENT ( C m p o m M A ia ta ! Rates o f C haige) TERMINAL MONTH THOUSANDS OF PERSONS INITIAL MONTH 9-8 7 10-87 11-87 12-87 1-88 2-3 8 5-8 8 4 -8 8 S -8 8 4-88 7-8 8 8 -8 8 9-88 10-88 11-88 12-88 5.4 5.0 2.5 12-87 5.0 2.8 115*740 1-88 5.1 5.0 5.2 5.4 5.0 2.8 2.9 2.8 2.5 5-88 2.2 1.9 1.8 1.4 0.4 -1 .5 4-88 2.7 2.6 2.6 2.4 2.1 2.0 S-88 2.0 1.8 1.7 1.4 0.9 0.5 1.4 -2 .7 4-88 2.5 2.4 2.5 2.2 2.0 1.9 5.1 1.8 6.5 114*055 1.5 5.4» 0.5 114*275 114*129 114*660 5.7 114*405 115*001 115*054 7-88 2.5 2.1 2.1 2.0 1.7 1.6 2.4 8-88 2.2 2.1 2.1 1.9 1.7 1.6 2.5 1.4 2 .8 1.1 2.0 1.9 1.7 1.7 2.2 1.5 2.6 1.5 1.8 1.8 1.5 1.9 1.9 2.1 2.0 2.4 2 .6 5.0 10-88 2.2 5-89 115*460 5.0 2-88 2.2 2 -8 9 115*225 10-87 11-87 9-88 1-89 2.1 2.1 2.0 1.9 1.8 1.7 2.2 1.6 2.5 115*205 1.8 115*570 115*575 115*947 4.0 11-88 2.5 2.2 2.2 2.1 2 .0 2.0 2.4 1.9 2.7 12-88 2.2 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 5.0 2.6 2.9 5.2 5.5 4.0 4.0 7.5 116*009 116*711 1-89 2.5 2.5 2.5 2.4 2.5 2.5 2.7 2 .4 2-89 2.5 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 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 2.1 2.6 2.2 2.4 2.5 2.6 2.7 2.4 2.9 1.4 1.5 -0 .2 4-88 5-88 6-88 7-88 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 5-89 4-89 2.5 2.4 2.5 2.5 2.2 2.1 2.1 2.4 9-87 10-87 11-87 12-87 1-88 2-88 5-88 2.5 116*855 117*156 117*115 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 5* 1989 PAYROLL EM PLOYMENT (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 10-87 5.6 11-87 4.6 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 THOUSANDS OF PERSONS 105*571 5.6 105*678 12-87 4 .5 5.7 5.8 1-88 4.0 5.5 5.4 5.1 2-88 4 .5 4.0 4.1 4 .5 5.5 5-88 4 .2 5.9 5.9 4.0 4.4 5.4 4-88 4.0 5.7 5.8 5.7 4.0 5.2 5.0 5-88 5.8 5.5 5.5 5.5 5.6 2.9 2.7 2.4 6-88 4.1 5.9 4.0 4 .0 4.2 5.9 4 .0 4.5 6.7 7-88 5.9 5.8 5.8 5.8 5.9 5.6 5.6 5.8 4.5 2.4 8-88 5.7 5.6 5.5 5.5 5.6 5.5 5.2 5.5 5.6 2.1 1.8 9-88 5.7 5.6 5.6 5.5 5.6 5.5 5.5 5.4 5.6 2.6 2.7 5.6 10-88 5.6 5.5 5.5 5.4 5.5 5.2 5.2 5.2 5.4 2.6 2.7 5.1 2.7 11-88 5.7 5.6 5.6 5.6 5.6 5.4 5.4 5.5 5.7 5.1 5.5 5.8 5.9 12-88 5.7 5.5 5.5 5.5 5.5 5.5 5.5 5.4 5.5 5.0 5.1 5.5 5.4 5.8 2.5 1-89 5.7 5.6 5.6 5.6 5.6 5.5 5.5 5.5 5.7 5.5 5.4 5.7 5.8 4.1 5.7 4.8 2-89 5.7 5.6 5.6 5.6 5.6 5.4 5.5 5.S 5.6 5.2 5.4 5.6 5.6 5.9 5.5 4.0 104*001 104*262 104*729 105*020 105*281 105*489 106*057 106*271 106*425 106*757 106*975 5.1 107*419 107*641 108*065 108*541 5.1 5-89 5.6 5.5 5.5 5.5 5.5 5.5 5.5 5.4 5.4 5.1 5.2 5.4 5.4 5 .5 5.1 5.5 2.5 1.9 4-89 5.5 5.4 5.5 5.5 5.5 5.2 5.2 5.2 5.5 2.9 5.0 5.1 5.1 5.1 2.7 2.8 2.1 1.6 1.5 9-87 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 5-89 108*512P 108*629P IN IT IA L MONTH PRELIMINARY PREPARO) BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 5» 1989 2 EMPLOYMENT RATIO SCALE MILLIONS OF RATIO SEASONALLY ADJUSTED PERSONS MILLIONS OF SCALE PERSONS 130 125 120 I 15 110 105 100 95 90 85 80 SOURCEt U.S.DEPARTMENT OF LABOR BEGINNING JANUARY 1086, TOTAL EMPLOYMENT DATA INCORPORATE NEW PROCEDURES FOR ESTIMATING MEASURES OF IMMIGRATION AND EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT 0 .3 X . PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTEDt APRIL PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. UNEMPLOYMENT PERCENT LOUIS RATE PERCENT SEASONALLY ADJUSTED 1 .0 10. 1 0 .0 9. 9.0 8. 8 .0 7. 7.0 6. 6 .0 5. 5.0 4. 1981 1982 1983 1984 1985 1986 1987 SOURCEt U .S . 1988 1989 DEPARTMENT OF LABOR PERCENT OF CIV ILIA N LABOR FORCE LATEST DATA PLOTTED» APRIL PREPAREO 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 l R a tes o f C hange) TERMINAL MONTH IN IT IA L MONTH 9-87 10-87 11-87 12-87 10-87 4.5 11-87 4.5 4.5 12-87 5.5 5.2 2.1 1-88 4.0 5.9 5.7 5.5 1-88 2-88 5-88 4-88 5-88 6-88 7-88 1 9 8 2 —8 4 * 1 0 0 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 115.0 115.4 115.6 116.1 2-88 5.6 5.4 5.2 5.7 2.1 5-88 5.7 5.6 5.4 5.9 5.1 4.2 4-88 5.9 5.9 5.8 4.2 5.8 4.7 5-88 4.1 4.1 4.0 4.4 4.2 4.9 5.5 5.2 6-88 4.1 4.1 4.0 4.4 4.2 4.7 4.9 4.7 116.5 116.7 5.5 117.2 117.7 4.2 118.1 7-88 4.2 4.2 4.2 4.5 4.4 4.8 5.0 4.9 4.7 5.2 8-88 4.2 4.2 4.2 4.4 4.5 4.7 4.8 4.7 4.5 4.7 4.1 9-88 4.5 4.5 4.5 4.5 4.4 4.8 4.9 4.8 4.7 4.8 4.6 118.6 119.0 5.2 119.5 10-88 4.5 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 4.2 4.4 4.4 4.6 4.7 4.6 4 .5 4.5 4.4 4.4 4.1 12-88 4.2 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 4.1 1-89 4.4 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 4.5 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 4.5 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 4.7 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 9-87 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 5-89 120.0 5.0 120.5 120.7 121.4 121.9 122.5 125.5 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 18» 1989 PRODUCER PRICE INDEX, FINISHED GO O D S (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 INITIAL MONTH 1-88 2-88 10-87 -2 .2 11-87 -1 .1 0.0 12-87 -1 .9 -1 .7 -3 .3 1-88 0.6 1.5 2.3 8.2 2-88 0.5 1.1 1.5 4.0 0.0 5-88 1.1 1.8 2.3 4.2 2.5 4.6 5-88 4-88 5-88 6-88 7-88 1982 « 100 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 106.0 106.0 105.7 106.4 106.4 106.8 4-88 1.5 2.1 2.5 4 .0 2.7 4.0 5.4 5-88 1.7 2.5 2.7 5.9 2.8 5.8 3.4 5.4 6-88 1.8 2.5 2 .6 5.6 2 .7 5.4 3.0 2.8 2.5 7-88 2.5 2.8 3.1 4.1 5.4 4.1 4.0 4.2 4.6 6.9 8-88 2.4 2.8 3.2 4.0 5.4 4.0 5.9 4.0 4.2 5.1 5.4 9-88 2.7 3.2 5.5 4.5 5.8 4.4 4.4 4.5 4.8 5.7 5.1 10-88 2.6 3.0 5.5 4.0 5.5 4.0 3.9 4.0 4.1 4.5 5.7 5.9 1.1 11-88 2.7 3.0 5.5 5.9 5.5 5.9 3.8 5.9 5.9 4.5 5.6 5.7 2.2 5.5 12-88 2.8 3.1 5.4 4.0 5.6 4 -C 5.9 5.9 4.0 4.5 5.8 5.9 5.0 5.9 4.5 1-89 5.4 3.8 4.0 4.6 4.5 4.7 4.7 4.9 5.1 5.5 5.2 5.6 5.5 6.8 8 .5 12.7 2-89 5.9 4.5 4.6 5.2 4.9 5.4 5.4 5.6 5.9 6.5 6.3 6.7 6.7 8 .2 9.8 12.6 5-89 4.0 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 9.0 5.5 4-89 4.1 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 7.8 5.5 5.5 9-87 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 5-89 107.1 107.4 107.6 108.2 108.5 6.8 109.1 109.2 109.5 109.9 111.0 12.6 112.1 112.6 115.1 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS HAY 1 2 » 1 9 8 9 4 RATIO SCALE P R IC E S RATIO SCALE CONSUMER P R IC E S D A TA AR E ON A I t t « 2 - ê 4 - I O O B ASE C P I - U D A TA B E G IN N IN G 1983 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 FOR HO M EO VtfêRSH IP C O S T S . P E R C E N TA 6 E S AR E AN NU AL R A T E S O F CHANCE F O R P E R IO D S I N D IC A T E D . L A T E S T D A TA P L O T T E D « A P R I L P R E P A R E D 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 1982-100 PRODUCER PRICES SEASONALLY ADJUSTED P E R C E N TA O E S A R E AN NU AL R A T E S OF CH AN 6 E F O R P E R IO O S RATIO SCALE 1982-100 I N D IC A T E D . L A T E S T D A TA P L O T T E D « A P R I L PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 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 IN IT IA L MONTH 9-87 10-87 11-87 12-87 1-88 2-88 5-88 4-88 5-88 6-88 7-88 1982 « 8-88 9-88 10-88 11-88 12-88 1-89 2-89 1 00 5-89 -1 .1 109.8 11-87 0.5 110.0 12-87 -5 .9 1-88 1.4 2.2 2.2 19.1 2-88 0.2 0.5 0.0 6.8 10-87 2.2 108.8 -5 .5 -1 2 .5 110.4 -4 .5 110.0 6.8 1.1 6.7 110.6 5.0 0.7 5.5 0.0 2.2 4.4 5.5 6.7 6.2 5.7 5.8 5.5 8.4 10.2 6.5 4.6 6.4 6.4 8 .6 9.5 8 .9 4.4 6.7 5.0 6.7 6.6 8.4 8 .9 8 .5 7.7 4.8 5.0 7.2 5.8 7.5 7.4 8.9 9.5 9.2 9.4 11.1 4.5 4.7 6.5 5.2 *6.5 6.4 7.6 7.7 7.1 6.5 6.0 1.1 5-88 1.5 1.8 1.6 4-88 1.1 1.5 1.5 5-88 1.8 2.2 2.2 5.4 6-88 2.7 5.2 5.5 7-88 5.5 5.8 4.0 8-88 5.7 4 .2 9-88 4.5 10-88 4.0 110.6 111.2 112.1 112.9 115.6 114.6 114.7 11-88 4.0 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 5.8 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 1.0 115.1 1-89 4.5 4.9 5.0 6.5 5.5 6.5 6.4 7.2 7.2 6.8 6.5 6.2 5.1 6.4 7.5 115.2 14.4 116.5 2-89 5.1 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 15.4 5-89 5.4 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 15.0 10.7 4-89 4.7 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 6.0 1.5 -6 .8 9-87 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 5-89 117.9 118.9 118.2 INITIAL MONTH PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 12» 1989 PRODUCER PRICE INDEX, FINISHED GOODS, EXCLUDING FOODS (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 10-87 -5 .4 11-87 -2 .5 -1 .1 12-87 -1 .1 0.0 INITIAL MONTH 1-88 2-88 5-88 4-88 5-88 6—88 7-88 1982 « 100 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 104.7 104.6 1.2 104.7 1-88 0.0 1.2 2.5 5.5 2-88 0.7 1.7 2.7 5.5 5.5 5-88 1.0 1.8 2.6 5.1 2.9 2.5 4-88 1.5 2.5 5.0 5.5 5.5 5.5 4.6 5-88 1.6 2.5 2.9 5.2 5.2 5.1 5.5 6-88 1.4 2.0 2.5 2.7 2.5 2.5 2.5 l.l 0.0 7-88 1.8 2.4 2.9 5.1 5.1 5.0 5.2 2.7 2.9 5.8 8-88 2.0 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 2.5 106.1 106.1 106.6 106.9 9-88 2.2 2 .7 5.1 5.5 5.5 5.5 5.4 5.2 5.4 4 .6 4 .0 4 .6 10-88 2.1 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 2.2 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 2.4 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 1-89 5.0 5.4 5.8 4.0 4.0 4.0 4.2 4.2 4.4 5.1 4.9 5.2 5.4 6.9 8.7 11.7 107.5 107.4 107.7 108.2 109.2 2-89 5.4 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 10.4 5-89 5.5 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 7.9 5.6 4-89 5.8 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 8 .5 7.5 9.0 9-87 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 5-89 110.1 110.6 111.4 IN IT IA L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 1 2 » 1 9 8 9 6 INDUSTRIAL RATIO PRODUCTION RATIO SCALE SEASONALLY ADJUSTED 1977-100 SCALE 1977-100 P E R C E N T A G E S AR E A N N U A L R A T E S OF C H A N G E F O R P E R I O D S INDICATED. L A T E S T D A T A PLO T T E D « A P R I L P R E L I M I N A R Y P R E P A R E D BY F E D E R A L R E S E R V E B A N K OF ST. L O U I S INDUSTRIAL PRODUCTION (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 INITIAL MONTH 1-88 2-88 3-88 4-88 5-88 6-88 7-88 1977 * 100 8-88 9-88 10-88 11-88 12-88 1-89 2-89 3-89 132.5 10-87 14.6 11-87 10.5 6.5 12-87 9.2 6.5 6.5 1-88 8.0 5.9 5.5 4.6 2-88 6.3 4.4 3.7 2.3 133.2 133.9 134.4 134.4 0.0 134.7 3-88 5.7 4.0 3.4 2.4 1.3 2.7 4-88 5.8 4.4 4.0 3.4 3.0 4.5 6.4 5-88 5.9 4.7 4.4 4.0 3.8 5.2 6.4 6.4 6-88 5.6 4.6 4.3 3.9 3.8 4.8 5.5 5.0 3.6 135.4 136.1 136.5 138.0 7-88 6.4 5.6 5.5 5.3 5.4 6.5 7.5 7.9 8 .7 14.0 8-88 6.3 5.5 5.3 5.2 5.3 6.2 6.9 7.0 7.2 9.1 4.4 9-88 5 .8 5.0 4.9 4.7 4.7 5.4 5.9 5.8 5.6 6.3 2.6 0.9 10-88 5.9 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 5.8 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 5.7 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 5.6 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 5.0 4.4 4.3 4.1 4.1 4.5 4.6 4.4 4.2 4.3 3.0 2.8 3.1 2.2 1.4 0.0 -3 .4 3-89 4.8 4.2 4.1 3.9 3.9 4.2 4.3 4.1 3.9 3.9 2.7 2.5 2.8 1.9 1.3 0.3 -1 .3 0.9 4-89 4.8 4.3 4.2 4.0 4.0 4.3 4.4 4.2 4.0 4.1 3.0 2.8 3.1 2.5 2.1 1.5 0.9 3.0 5.2 9-87 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 3-89 138.5 138.6 139.4 139.9 140.4 140.8 140.4 140.5P 141.IP IN IT IA L MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 1 5 » 1 9 8 9 7 PERSONAL INCOME RATIO SCALE MONTHLY TOTALS AT ANNUAL RATES RATIO SCALE TRILLIONS OF DOLLARS SEASONALLY ADJUSTED TRILLIONS OF DOLLARS .8 .4 4.0 3.6 3.2 2 .8 2.4 1981 1982 1983 1984 1985 1986 1987 1988 1989 SOURCE» U .8 . DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED* APRIL PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS PERSONAL INCOME (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 INITIAL MONTH 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 BILLIONS OF DOLLARS ANNUAL RATES 3»897.2 10-87 26.8 11-87 10.4 -4 .0 12-87 13.0 6.6 18.3 3,884.1 3»939.0 3*921.8 1-88 8.1 2.5 6.0 -5 .1 2-88 8.1 3.9 6.6 1.2 7.9 3-88 8.8 5.5 8.1 4.8 10.2 12.6 4-88 8.2 5.4 7.4 4.8 8.3 8.5 4.6 5-88 8 .0 5.5 7.2 5.1 7.8 7.8 5.5 6.3 6-88 7.9 5.7 7.2 5.4 7.7 7.7 6.1 6.8 7.2 7-88 8 .0 6.1 7.5 6.0 8 .0 8.0 6.9 7.6 8 .3 9*4 8-88 7.8 6.0 7.2 5.9 7.5 7.5 6.5 7.0 7.2 7.2 9-88 7.7 6.1 7.2 6.0 7.5 7.4 6.6 7.0 7.1 7.1 5.9 6.9 10-88 8 .5 7.1 8.2 7.2 8 .7 8.8 8 .3 8 .9 9.4 10.0 10.2 12.9 3*946.7 3*985.9 4*001.0 4*021.4 4*044.9 4*075.3 5.0 4*091.8 4,114.7 19.2 4»175.5 11-88 7.7 6.3 7.2 6.3 7.5 7.4 6.8 7.1 7.3 7.3 6.8 7.4 7.6 -2 .9 12-88 7.9 6.6 7.5 6.6 7.8 7.8 7.3 7.6 7.8 7.9 7.6 8.2 8 .6 3.7 10.8 1-89 8 .7 7.6 8.5 7.8 8 .9 9.0 8 .7 9.1 9.5 9.8 9.9 10.9 11.9 9.6 16.5 22.5 4*165.2 4»200.8 4,272.4 2-89 9.0 8 .0 8.8 8 .2 9.3 9.4 9.1 9.5 9.9 10.2 10.4 11.3 12.2 10.5 15.4 17.7 13.1 3-89 9.1 8.1 8 .9 8 .3 9.3 9.4 9.2 9.6 9.9 10.2 10.3 11.1 11.8 10.4 14.0 15.2 11.7 10.2 4-89 8 .8 7.9 8.7 8.1 9.0 9.1 8.B 9.2 9.5 9.7 9.7 10.3 10.8 9.5 12.2 12.5 9.4 7.6 5.0 9-87 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*316.6 4*351.6 4*369.3P IN IT IA L MONTH PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 26* 1989 8 RETAIL RATIO SALES SCALE RATIO BILLIONS OF DOLLARS 1981 1982 SEASONALLY ADJUSTED 1983 1984 1985 SCALE BILLIONS OF DOLLARS 1986 1987 1988 1989 SOUR C E « U.S. D E P A R T M E N T OF C O M M E R C E P E R C E N T A G E S A R E A N N U A L R A T E S OF C H A N G E F O R P E R I O D S INDICATED. L A T E S T O A T A P L O T T E D « MAR C H , A P R I L A D V A N C E E S T I M A T E P R E P A R E D BY F E D E R A L R E S E R V E B A N K OF ST. L O U I S RETAIL SALES (Compounded Annual Rates o f Change) TERMINAL MONTH 9-87 10-87 11-87 12-87 1-88 10-87 -1 0 .5 11-87 -4 ,0 2.9 12-87 1.4 7.9 15.1 1-88 2.2 6.8 8 .8 4.7 2-88 4.5 8 .7 10.7 9.5 14.5 2-88 5-88 4-88 INITIAL MONTH DOLLARS 6-88 7-88 5-88 MILLIONS OF 8-88 9-88 10-88 11-88 12-88 1-89 2-89 5-89 128,255 128,541 129,870 150,564 151,846 5-88 6.9 10.7 12.8 12.7 16.9 19.5 4-88 5.1 7.9 9.0 7.9 9.0 6.4 5-88 5.5 8 .0 8 .9 8.1 8 .9 7.1 1.5 8 .5 6-88 5.8 8 .0 8.8 8.1 8 .8 7.4 5.7 8.4 8 .2 7-88 5.8 7.8 8.4 7.8 8 .5 7.1 4.2 7.5 7.1 6.0 8-88 5.6 7.4 7.9 7.2 7.6 6.5 4.1 6.5 5.8 4.7 155,797 -5 .1 155,217 154,150 155,010 155,662 156,050 5.5 155,751 9-88 4.9 6.4 6.8 6.1 6.5 5.1 2.9 4.6 5.7 2.2 0.4 -2 .6 10-88 6.0 7.5 7.9 7.4 7.7 6.9 5.2 7.1 6.8 6.4 6.6 8 .2 20.1 11-88 6.7 8.1 8 .5 8.1 8 .5 7.8 6.5 8 .5 8 .2 8 .2 8 .8 10.6 17.9 15.7 12-88 6.0 7.5 7.6 7.2 7.4 6.7 5.4 6.8 6.6 6.5 6.4 7.1 10.5 6.0 -2 .9 1-89 6.1 7.5 7.6 7.2 7.4 6.8 5.6 6.9 6.7 6.5 6.6 7.2 9.8 6.5 2.2 7.6 2-89 5.4 6.5 6.7 6.5 6.4 5.8 4.6 5.6 5.5 4.9 4.8 5.0 6.6 5.5 -0 .5 1.0 -5 .1 5-89 5.1 6.0 6.2 5.8 5.9 5 .5 4.2 5.0 4.7 4.5 4.1 4.2 5.4 2.7 -0 .4 0.5 -2 .9 -0 .6 4-89 5.1 6.0 6.2 5.8 5.8 5.2 4.2 5.0 4.7 4.4 4.2 4.5 5.5 5.1 0.7 1.6 -0 .5 2.2 5.0 9-87 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 5-89 157,842 159,529 159,189 140,040 159,428 159.561P 139,951E I N IT IA L MONTH P - PRELIMINARY E - ESTIMATED PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS MAY I I , 1 9 8 9 9 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 (Com pounded A n n u a l R a tes o f C hange) TERMINAL QUARTER IN IT IA L QUARTER 2-84 3—84 4-84 1-85 2-85 3-85 4-85 1-84 2-84 7-86 4-86 1 9 7 7 -1 0 0 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 168.7 3-84 4.4 4-84 4.1 3.8 1-85 4.5 4.6 5.3 2-85 4.4 4.4 4.6 4.0 3-85 4.5 4.6 4.8 4.6 170.3 172.5 174.2 176.4 5.1 178.8 4-85 4.7 4.8 5.0 4.9 5.4 5.6 1-86 4.5 4.6 4.7 4.6 4.8 4.6 2-86 4.4 4.4 4.5 4.4 4.5 4.3 3.6 3.6 3-86 4.4 4.4 4.5 4.4 4.5 4.3 3.9 4.0 4.5 180.4 3.6 182.0 184.0 4-86 4.5 4.5 4.6 4.5 4.5 4.4 4.1 4.3 4.7 4.9 1-87 4.3 4.3 4.3 4.2 4.2 4.1 3.8 3.8 3.9 3.6 2.4 186.2 187.3 189.0 2-87 4.2 4.2 4.3 4.1 4.2 4.0 3.8 3.8 3.8 3.6 3.0 3.7 3-87 4.3 4.2 4.3 4.2 4.2 4.1 3.9 3.9 4.0 3.9 3.5 4.1 4.5 4-87 4.4 4.4 4.4 4.4 4.4 4.3 4.2 4.2 4.3 4.3 4.2 4.8 5.4 6.2 1-88 4.4 4.3 4.4 4.3 4.3 4.3 4.1 4.2 4.3 4.2 4.1 4.5 4.8 5 .0 3.8 2-88 4.4 4.4 4.4 4.3 4.4 4.3 4.2 4.2 4.3 4.3 4.2 4.6 4.8 4.9 4.3 191.1 194.0 195.8 4.8 198.1 3-88 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 6.2 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 4.5 4.5 4.6 4.6 4.6 4.9 5.0 5.1 4.9 5.2 5.4 4 .9 5.6 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 201.1 203.2 206.OP INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 3» 1989 OU TPU T PER H O U R O F ALL PERSONS, BUSINESS SECTOR (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 INITIAL QUARTER 3-84 4-84 3-84 -0 .4 4-84 0.6 1.5 1-85 1.4 2.3 3.1 2-85 1.8 2.5 3.0 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1977*100 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 105.5 105.9 106.7 3.0 107.5 3-85 2.0 2.7 3.0 3.0 3.0 4-85 1.8 2.3 2.5 2.3 1.9 0.7 1-86 2.6 3.1 3.5 3.6 3.7 4.1 7.6 2-86 2.2 2.6 2.8 2 .8 2.7 2.6 3.5 -0 .4 3-86 1.8 2.1 2.2 2.1 1.9 1.6 1.8 -0 .9 -1 .4 4-86 1.6 1.8 1.8 1.6 1.4 1.1 1.2 - 0 .8 -1 .1 -0 .7 1-87 1.5 1.6 1.7 1.5 1.3 1.0 1.0 -0 .5 -0 .6 -0 .2 2-87 1.6 1.7 1.8 1.6 1.4 1.2 1.3 0.1 0.2 0.7 1.5 2.6 3-87 1.7 1.9 2.0 1.8 1.7 1.6 1.7 0.7 0.9 1.5 2.3 3.3 4.0 4-87 1.6 1.8 1.8 1.7 1.6 1.4 1.5 0.7 0.8 1.3 1.8 2.3 2.2 0.4 1-88 1.8 1.9 2.0 1.9 1.8 1.6 1.7 1.0 1.2 1.7 2 .2 2.6 2.7 2.0 2-88 1.4 1.6 1.6 1.4 1.3 1.2 1.2 0.5 0.6 0.9 1.2 1.4 1.1 0.1 0.0 -3 .5 1.4 1.2 1.3 0.6 0.8 1.0 1.3 1.5 1.2 0.5 0.6 -0 .9 1.8 108.3 108.5 110.5 110.4 110.0 109.8 0.4 109.9 110.6 111.7 111.8 3.6 112.8 111.8 3-88 1.5 1.6 1.6 1.5 4-88 1.3 1.4 1.4 1.3 1.2 1.0 1.1 0.5 0.6 0.8 1.0 1.1 0.8 0.2 0.2 -0 .9 0.4 -1 .1 1-89 1.4 1.5 1.5 1.4 1.3 1.2 1.3 0.7 0.9 1.1 1.3 1.4 1.2 0.8 0.9 0.2 1.4 1.3 3.6 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 112.3 112.0 113.OP I N IT IA L QUARTER P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 3 , 1 9 8 9 10 P R O D U C T IV IT Y , RATIO SCALE 1977-100 70 C O M PEN SA T IO N , AND LABOR COSTS RATIO SCALE 1977-100 SEASONALLY AOJUSTEO ------ 3— 1---------1— I--------------------- I ---------------------------------- 1— I--------------- ---------------- LI---------- 1981 1982 1983 1984 1985 1986 1987 1988 1989 S O U R C E : U . S . D E P A R TM E N T OF LA B O R P E R C E N TA O E S AR E AN NU AL R A T E S OF CHANOE FO R P E R IO D S IM 9 IC A T E 0 . L A T E S T D A TA P LO TTED » 1 S T O U A R TE R P R E L IM IN A R Y PR EP AR E D BY F E D E R A L R E S E R V E BANK OF S T . LO U IS UNIT LABOR COSTS, BUSINESS SECTOR (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 INITIAL QUARTER 3-84 3-84 4.9 4-84 3.6 2.3 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1977*100 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 159.9 160.8 1-85 3.0 2.1 2.0 2-85 2.5 1.8 1.5 1.0 3-85 2.5 1.9 1.8 1.7 2.5 4—85 2 .8 2.4 2.5 2.6 3.5 4.5 1-86 1.9 1.4 1.2 1.1 1.1 0.4 -3 .6 2-86 2 .2 1.6 1.8 1.6 0.1 4.0 3-86 2.6 2.3 2.3 2.3 2 .6 2.6 2.0 5.0 6.0 4-86 2 .9 2.7 2.7 2.8 3.1 3.2 2.9 5.2 5.8 1-87 2 .8 2.6 2.6 2.7 3.0 3.0 2.8 4.4 4.6 3.9 2.1 2.5 2.7 2.7 2.4 3.7 3.6 2.8 1.4 1.8 1.7 161.6 162.0 163.0 164.8 163.3 164.9 167.3 5.6 169.6 170.5 2-87 2.6 2.4 2.4 3-87 2.5 2.3 2.3 2.3 2.5 2.5 2.2 3.2 3.0 2.3 1.2 0.7 0.7 2.6 2.8 2.8 2.6 3.5 3 .4 ' 3.0 2.3 2.4 3.2 5.7 0.7 170.8 171.1 4-87 2.7 2.5 2*6 1-88 2 .5 2.4 2.4 2.4 2 .5 2.5 2.3 3.1 2.9 2.5 1.8 1.8 2.1 2.8 0.0 3.0 3.1 2.9 3.7 3.6 3.3 2.9 3.1 3.7 4.7 4.2 8 .6 173.5 173.5 2-88 2.9 2.8 2.8 2.9 3-88 3.0 2.9 2 .9 3.0 3.1 3.2 3.1 3.7 3.7 3.4 3.1 3.3 3.8 4.6 4.2 6.4 4 .4 4-88 3.1 3.0 3.1 3.1 3.3 3.3 3.3 3.9 3.9 3.7 3.4 3.6 4.1 4.8 4 .6 6.1 4 .9 5 .5 1-89 3.1 3.0 3.0 3.1 3.2 3.2 3.2 3.7 3.7 3.5 3.3 3.4 3.8 4.3 4.0 5.1 3.9 3.7 2.0 2-84 3—84 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 4-86 1-87 2-87 3-87 4-87 1-88 2-88 3-88 4-88 177.1 179.0 181.4 182.3P IN IT IA L QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . MAY 3 » 1 9 8 9 11 LOUIS GROSS NATIONAL PRODUCT IN CURRENT DOLLARS (Compounded Annual Rates o f Change) BIL LIO N S OF DOLLARS ANNUAL RATES INITIAL QUARTER t e r m in a l QUARTER 2 -8 4 5 -8 4 4 -8 4 1 -8 5 2 -8 5 5 -8 5 4 -8 5 1 -8 6 2 -8 6 5 -8 6 4 -8 6 1 -8 7 2 -8 7 5 -8 7 4 -8 7 1 -8 8 2 -8 8 5 -8 8 4 -8 8 5 -8 4 5 * 8 0 7 .9 4-84 5*851.8 1-85 6.1 6.5 7.9 2-85 6.0 6.0 6.7 5.6 5-85 6.2 6.5 6.8 6.5 4-85 6.2 6.5 6.6 6.2 6.6 6.2 1-86 6.5 6.4 6.8 6.5 6.8 6.7 7.2 2-86 5.9 5.9 6.1 5.7 5.7 5.5 4.9 2.6 5-86 5.9 5.9 6.0 5.7 5.8 5.5 5.2 4.5 5.9 4-86 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 2-87 6.1 6.1 6.5 6.1 6.2 6.0 6.0 5.8 6.6 6.8 8 .5 5-87 6.2 6.5 6.4 6.2 6.5 6.2 6.5 6.1 6.8 7.0 8 .2 8.2 7.7 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 6.4 6.4 6.4 6.5 6.8 7.0 7.7 7.6 7.2 7.0 5.4 6.6 6.6 6.6 7.1 7.2 7.9 7.8 7.6 7.5 7.0 8 .7 4-87 1-88 6.4 6.5 6.4 5,925.6 5,979.0 4,047.0 7.0 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 4,825.8 2-88 6.5 6.5 6.6 6.5 6.6 5-88 6.5 6.6 6.7 6.6 6.7 6.6 6.7 6.6 7.1 7.2 7.8 7.7 7.5 7.5 7.1 8.0 7.5 4-88 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 1-89 6.7 6.7 6.9 6.8 6.9 6.9 6.9 6.9 7.5 7.4 7.9 7.8 7.7 7.7 7.5 8.1 7.8 8.1 8 .7 2-84 5-84 4-84 1-85 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 4,909.0 4,999.7 5 ,1 0 5 .OP INITIAL QUARTER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25, 1989 GROSS NATIONAL PRODUCT IN 1982 DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER 2-84 INITIAL QUARTER 5-84 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 5-84 2.6 4-84 2.1 1.7 1-85 5.0 5.5 4.9 2-85 2.9 5.0 5.7 2.4 5-85 5.1 5.5 5.8 5.5 4-85 5.1 5.2 5.6 5.2 5.5 5.0 1-86 5.6 5.7 4.1 4.0 4.5 4.6 6.4 2-86 5.0 5.1 5.5 5.0 5.1 2.8 2.7 -0 .8 5-86 2.8 2.8 5.0 2.7 2.7 2.4 2.2 0.1 4—86 2.7 2.7 2.8 2 .5 2.5 2.2 2.0 0.6 1.2 1.4 1-87 2.8 2.8 5.0 2.7 2.8 2.6 2.5 1.5 2.5 5.0 4.6 2-87 5.0 5.0 5.2 5.0 5.1 2.9 2.9 2.2 5.0 5.7 4.8 5.0 5-87 5.1 5.2 5.5 5.1 5.2 5.1 5.1 2.6 5.5 5.9 4.7 4.7 4.5 4-87 5.5 5.4 5.5 5.4 5.5 5.4 5.5 5.1 5.8 4.5 5.0 5.2 5.5 6.1 4-87 1-88 2-88 5-88 4-88 BILLIONS OF DOLLARS ANNUAL RATES 5,520.6 5,555.2 5,577.5 5,599.2 4.1 5,655.8 5,662.4 5,719.5 5,711.6 1.0 5,721.5 5,754.7 5,776.7 5,825.0 5,865.5 5,925.0 1-88 5.5 5.4 5.5 5.4 5.5 5.4 5.5 5.1 5.7 4.2 4.7 4.8 4.7 4.8 5.4 2-88 5.5 5.4 5.5 5.4 5.5 5.4 5.4 5.1 5.6 4.0 4.4 4.4 4.2 4.2 5.2 5.0 5-88 5.5 5.5 5.4 5.5 5.4 5.5 5.5 5.0 5.5 5.8 4.1 4.1 5.9 5.7 2.9 2.7 2.5 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 5.7 5.6 5.1 5.0 5.1 5.4 4.5 2-84 5-84 4-84 1-85 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 4,055.4 4 ,0 7 6 .5P IN IT IA L QUARTER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 2 5 , 1 9 8 9 12 GROSS RATIO SCALE T R I L L I O N S OF NATIONAL PRODUCT Q U A R T E R L Y TOTA L S AT ANNUAL R A T E S RATIO SCALE DOLLARS S E AS O N A L L Y ADJU ST E D T R I L L I O N S OF D O L L A R S 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 1981 1982 1983 1984 1985 1986 SO U R C E t PERCENTAGES ARE LATEST PLOTTED: D A TA ANNUAL RATES 1ST OF QUARTER CHANGE FOR P E R IO D S 1987 U .S . 1988 DEPA RTM E N T 1989 OF COMMERCE IN D IC A T E D . P R E L IM IN A R Y PREPARED BY FEDERAL R ESER V E BANK OF S T . L O U IS 13 2 .6 GENERAL RATIO PRICE INDEX* SCALE RATIO 1982-100 SCALE 1982-100 9 0 I--------------- 1-------- i— i--------------- 1--------------- 1--------------- 1--------------- 1------------ u --------------- u.---------- 1981 1982 «AS USED IN NATIONAL 1983 1984 1985 1986 INCOME ACCOUNTS 1987 SOURCEt U .S . 1988 1989 DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED« 1ST QUARTER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS IMPLICIT PRICE DEFLATOR FO R GROSS NATIONAL PRODUCT (C om poonM Annual Rates of Change) TERMINAL QUARTER 2-84 INITIAL QUARTER 5-84 5-84 5.4 4-84 5.2 5.0 4-84 1-85 2-85 5-85 4-85 1-86 2-86 5-86 4-86 1982 * 100 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 108.2 109.0 1-85 5.0 2.8 2.6 2-85 5.1 5.0 5.0 5.5 109.7 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 1—86 2.7 2.6 2.5 2 .5 2.2 2.0 0.7 2-86 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 2.1 1-87 5.0 2.9 2.9 5.0 2.9 5.0 2.9 5.5 5.4 2.8 5.5 2-87 5.0 5.0 5.0 5.0 5.0 5.0 5.0 5.5 5.4 5.0 5.5 5.5 110.6 111.5 112.2 112.4 115.4 114.7 115.5 116.5 117.5 5-87 5.0 5.0 5.0 5.0 5.0 5.1 5.0 5.4 5.4 5.1 5.4 5.5 5.1 4-87 5.0 2.9 2.9 5.0 2.9 5.0 2.9 5.5 5.2 2 .9 5.1 5.0 2.7 2.4 1-88 2.9 2 .9 2.8 2 .9 2.8 2.8 2.8 5.1 5.0 2.7 2.8 2.7 2.4 2.0 1.7 2-88 5.0 5.0 5.0 5.1 5.0 5.1 5.1 5.5 5.5 5.1 5.5 5.2 5.2 5.2 5.6 5.5 5-88 5.1 5.1 5.1 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 4-88 5.5 5.5 5.5 5.5 5.5 5.4 5.4 5.6 5.6 5.5 5.7 5.7 5.8 5.9 4.5 5.2 5.0 5.5 1-89 5.5 5.5 5.5 5.4 5.4 5.4 5.4 5.7 5.7 5.6 5.7 5.8 5.8 5.9 4.2 4.9 4.7 4.6 5.9 2-84 5-84 4-84 1-85 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 4-88 118.2 118.9 119.4 121.0 122.4 124.0 125.2P IN IT IA L QUARTER P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 2 5 , 1 9 8 9 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 (Com pounded A n n u a l R ates o f Change) B ILLIO NS OF INITIAL QUARTER TERMINAL QUARTER 2-84 5-84 4-84 1-85 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 DOLLARS ANNUAL RATES 2*450.5 5-84 5 6 4-84 6 4 7.2 1-85 7 7 8 .7 10.2 2-85 7 5 8 .2 8 .7 7.1 5-85 8 0 8 .6 9.1 8 .5 9.9 4-85 7 7 8.1 8 .5 7.7 7.9 6.0 2.495.4 2,554.9 2*599.5 2,661.4 2*700.4 2*759.0 1-86 7 4 7.7 7.8 7.2 7.2 5.9 5.8 2-86 7 1 7.5 7.5 6.7 6.6 5.6 5.4 4.9 5-86 7 5 7.7 7.8 7.4 7.4 6.8 7.1 7.7 10.6 4-86 7 2 7.4 7.4 7 .0 7.0 6.4 6.5 6.7 7.6 4.8 1-87 7 1 7.5 7.5 6.9 6.9 6.4 6.5 6.7 7.5 5.6 6.5 2-87 7 4 7.5 7.6 7.5 7.5 6.9 7.1 7.5 7.9 7.1 8.2 10.0 5-87 7 5 7.7 7.7 7.5 7.5 7.2 7.4 7.6 8 .2 7.6 8.5 9.6 9.1 4-87 7 1 7.5 7.5 7.0 7.0 6.7 6.7 6.9 7.2 6.5 7.0 7.1 5.7 2.4 1-88 7 1 7.2 7.2 7.0 7.0 6.7 6.8 6.9 7.1 6.6 7.0 7.1 6.1 4.6 2-88 7 2 7.5 7.5 7.1 7.1 6.9 7.0 7.1 7.4 6.9 7.5 7.4 6.8 6.0 7.8 8 .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 6.6 8 .1 8 .7 8 .6 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 7.5 7.0 8 .1 8 .5 8 .4 8 .2 1-89 7 5 7.4 7.4 7.2 7.2 7.0 7.1 7.2 7.4 7.1 7.4 7.5 7.2 6.8 7.8 8 .0 7.7 7.2 6.5 2-84 5-84 4-84 1-85 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 2*772.1 2*842.8 2*876.0 2*921.7 2*992.2 5*058.2 5*076.5 5*128.1 6.9 5*194.6 5*261.2 5*526.4 5*577.2P INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25* 1989 PERSONAL CONSUM PTION EXPENDITURES IN 1982 DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER 2-84 5-84 5-84 4-84 1-85 2-85 5-85 4-85 1-86 INITIAL QUARTER ANNUAL RATES 2-86 5-86 4-86 1-87 2-87 1.9 BILLIONS OF DOLLARS 5-87 4-87 1-88 2-88 5-88 4-88 2*257.5 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 1-86 4.2 4.6 4.7 4.1 4 .5 5.5 2-86 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 6.5 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 2*281.1 2,519.1 2,557.4 2,575.9 2*586.9 4.8 2*415.1 2*440.9 2*478.6 2*486.2 2*490.2 2*516.6 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 2.2 1.2 -2 .1 1-88 5.5 5.7 5.6 5.5 5.4 5.0 5.2 5.0 2.8 2.2 2.4 2.8 2.5 1.2 4 .5 2-88 5.5 5.6 5.6 5.5 5.5 5.0 5.1 5.0 2.8 2.5 2.5 2.8 2.5 1.8 5.8 2*545.2 2*551.7 2*559.8 5.0 2*579.0 5-88 5.5 5.6 5.6 5.4 5.4 5.1 5.2 5.1 2 .9 2.5 2.7 5.0 2.8 2 .5 5.8 5.5 5.9 4-88 5.5 5.6 5*6 5.4 5.4 5.1 5.2 5.1 5.0 2.6 2.8 5.1 2.9 2 .5 5.7 5.5 5.7 5.5 1-89 5.4 5.5 5.4 5.2 5.2 5.0 5.1 2 .9 2.8 2.5 2.6 2.8 2.6 2.5 5.2 2.9 2 .8 2 .5 1.1 2-84 5-84 4-84 1-85 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 2*605.8 2*626.2 2*655.6P IN IT IA L QUARTER P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25» 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 IN C U R R E N T D O L L A R S (Com ponnded A n n u a l Rates o f Change) TERMINAL QUARTER 2-84 BILLIO N S OF INITIAL QUARTER 5-84 4-84 1-85 2-85 5-85 5-84 5.7 4-84 -0 .7 - 5 .0 1-85 -5 .0 -9 .0 -1 2 .9 2-85 -1 .8 -5 .6 -2 .9 5-85 -4 .5 -6 .5 -7 .0 -5 .9 -1 4 .8 4-85 - 1 .0 - 1 .9 -1 .2 0.6 18.7 1-84 1.9 1.6 5.0 7.1 20.0 2-86 0.5 -0 .2 0.6 2.4 8 .8 4-85 1-86 2-86 5-86 4-86 DOLLARS 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 annual rates 670.5 661.8 659.5 8 .4 652.5 626.7 654.1 21.4 686.6 4.2 -1 0 .5 667.8 5-86 - 0 .8 -1 .5 -0 .8 0.1 4.2 -0 .2 -9 .5 -8 .6 4-86 - 0 .5 - 0 .9 -0 .4 0.4 5.8 0.4 -5 .8 -5 .4 2.1 1-87 1.2 0.9 1.6 2.9 6.2 5.8 -0 .2 5.5 10.2 18.9 2-87 1.7 1.5 2.2 5.5 6.4 4.5 1.4 4.6 9.4 15.2 7.8 5-87 1.8 1.6 2.2 5.4 5.9 4.2 1.6 4.2 7.6 9.5 5.1 2.5 4-87 4.1 4.1 4.9 6.6 9.5 8.1 6.4 9.5 15.5 16.5 15.7 19.9 40.5 1-88 5.8 5.8 4.5 5.9 8.2 7.1 5.4 7.9 11.0 12.8 11.4 12.6 18.0 -0 .8 2-88 5.4 5.5 4.0 5.1 7.2 6.1 4.5 6.5 8.9 10.1 8.4 8.5 10.6 -1 .8 -2 .7 655.0 656.4 685.5 698.5 702.8 764.9 765.4 758.1 5-88 5.6 5.6 4.2 5.5 7.2 6.2 4.8 6.7 8 .8 9.8 8.5 8.4 9.9 1.5 2.4 7.8 4-88 5.4 5.4 5.9 4.9 6.6 5.7 4.4 6.0 7.7 8 .4 7.0 6.9 7.8 0.9 1.5 5.7 -0 .5 1-89 5.8 5.8 4.4 5.4 7.0 6.1 4.9 6.5 8.1 8 .8 7.6 7.6 8.4 5.0 4.0 6.5 5.5 11.7 2-84 5-84 4-84 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 1-85 772.5 772.0 795.6P INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25. 1989 GROSS PRIVATE DOM ESTIC INVESTMENT IN 1982 DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 5-84 5.6 4-84 -0 .8 -5 .0 4-84 1-85 2-85 5-85 4-85 1-86 INITIAL QUARTER ANNUAL RATES 2-86 5-86 4-86 1-87 2-87 5-87 4-87 BILLIONS OF DOLLARS 1-88 2-88 5-88 4-88 664.2 655.7 1-85 -4 .9 - 8 .8 -1 2 .4 2-85 -1 .7 - 5 .5 -2 .5 5-85 -4 .9 -6 .9 -7 .6 4-85 -1 .1 - 2 .0 -1 .2 2.9 0.2 20.8 1-86 1.7 1.4 2.7 6.9 6.5 20.5 2-86 -0 .5 - 1 .0 -0 .4 2 .2 0.7 7.4 5-86 -2 .1 -2 .8 -2 .5 - 0 .7 -2 .5 1.5 -4 .2 -1 4 .5 -1 4 .2 4-86 - 2 .6 -5 .5 -5 .0 - 1 .6 -5 .2 -0 .2 -4 .9 -1 1 .9 -1 0 .6 1-87 -0 .7 -1 .1 -0 .6 0 .9 -0 .1 5.0 -0 .2 2-87 0.1 - 0 .2 0.5 1.8 1.0 5.8 5-87 0.4 0.2 0.7 2.1 1.4 4.0 4-87 2 .8 2.7 5.4 5 .0 4.6 1-88 2.7 2.7 5.5 4 .7 4.4 2-88 2.1 2 .0 2.5 5.8 5.4 5.4 4.0 5-88 2.5 2.5 2.8 5 .9 5.6 5.5 4.2 4-88 1.9 1.8 2.5 5.5 5.0 4.7 5.4 1-89 2.5 2 .2 2.6 5.7 5.5 5 .0 2-84 5-84 4-84 1-85 2-85 5-85 654.5 647.5 8 .6 618.1 - 5 .0 -1 7 .0 648.0 678.0 19.8 652.1 1.5 -1 4 .4 627.6 616.5 -6 .9 6.1 646.4 -4 .7 -1 .2 20.9 1.2 -2 .1 1.2 7.0 14.6 8.8 1.7 -1 .0 1.9 6.4 11.5 6.8 4.8 7.5 5.8 5.9 7.5 12.2 17.6 16.5 20.5 58.6 6.8 5.4 5.7 6.6 10.5 14.5 12.8 14.1 19.1 2 .5 2.4 4.7 7.7 10.4 8 .4 8.5 9.5 -2 .6 -7 .4 2.8 4.9 7.6 9.8 8.1 7.9 8 .7 0.5 -0 .8 6.5 2.1 5.9 6.1 7.9 6.1 5.7 5.9 -1 .0 -2 .2 0.6 -4 .9 5.8 2.6 4.5 6.4 8 .0 6.4 6.1 6.5 0.8 0.5 5.2 1.7 8.8 4-85 1-86 2-86 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 660.1 667.9 724.7 728.9 715.1 726.1 717.1 752.4P IN IT IA L QUARTER P~ PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 2 5 * 1 9 8 9 16 GOVERNM ENT PURCHASES OF GOODS AND SERVICES IN CURRENT DOLLARS (Compounded Annual Rates o f Change) TERMINAL QUARTER INITIAL QUARTER 2 -8 4 5-84 4-84 5-84 6.0 4-84 8 .0 1-85 8 .9 10.4 10.8 2-85 9.0 10.0 10.0 1-85 2-85 5-85 4-85 1-84 2-84 5-84 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 BILLIO N S OF DOLLARS ANNUAL RATES 746.6 9.9 764.5 784.4 9.1 801.7 5-85 11.2 12.5 15.4 14.7 20 6 4-85 10.7 11.6 12.1 12.5 14 2 840.2 8.1 856.7 1-84 8 .4 8 .8 8 .6 8.1 7 1.8 —4.1 2-86 8 .7 9.0 8 .9 8 .5 8 4.6 2 .8 10.5 5-86 8.4 8 .7 8 .5 8.1 7 5.0 5.9 8 .2 4-86 7.7 7.9 7.7 7«2 6 4.4 5.5 6.1 4.1 2.1 1-87 7.8 7.9 7.7 7.5 7 5.0 4.4 6.6 5 .4 5.1 8 .0 2-87 7.6 7.7 7.5 7.1 4 5.0 4 .5 4.4 5.4 5.2 6.7 847*8 868.8 881.8 6.1 886.5 905*8 915.7 5.4 952.2 5-87 7.6 7.7 7.5 7.1 6 5.5 4.9 6.5 5.8 5.7 6.9 6.4 7.4 4-87 7.5 7.6 7.4 7.1 6 5.5 5 .2 6.5 5.9 5.9 6.9 6.5 7.0 6.6 1-88 6.9 7.0 6.7 6.4 6 2 4.8 4.5 5 .6 4.9 4.7 5.5 4.6 4.5 2.8 -0 .9 2-88 6.9 7.0 6.8 6.5 6 2 5.0 4.7 5.8 5.2 5.1 5.6 5.1 5.0 4.2 5.0 7.1 5-88 6.5 6.4 6.1 5.8 5 5 4.4 4.0 4.9 4.5 4.1 4.4 5.8 5.4 2.5 1.1 2.1 947.5 945.2 961.6 955.5 -2 .6 997.5 4-88 7.0 7.1 6.9 6.6 6 4 5.4 5.2 6.1 5.7 5.6 6.1 5.8 5.9 5.6 5.5 7.4 7.6 18.9 1-89 6.9 7.0 6.8 6.6 6 4 5.5 5.5 6.1 5.7 5.7 6.1 5.8 5.9 5.6 5.4 7.0 7.0 12.2 5.9 2-84 5-84 4-84 1-85 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 1»011.8P INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25» 1989 GOVERNMENT PURCHASES OF GOODS AND SERVICES IN 1982 DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 INITIAL QUARTER 5-84 5-84 2.6 4-84 5.9 5.2 4-84 1-85 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 BILLIONS OF DOLLARS ANNUAL RATES 684.5 695*2 1-85 5.0 6.2 7.5 2-85 5.4 6.5 6.9 6.5 5-85 8.1 9.5 11.0 15.0 19.8 4-85 7.0 7.9 8*6 9.0 10.5 1.6 1-86 5.1 5.5 5.6 5.1 4.7 -2 .1 - 5 .7 2-86 5.6 6.1 6.2 6.0 5*9 1.6 1.6 705*5 716*7 749*8 752*7 741.8 9.5 758.8 5-86 5 .5 5.8 5.9 5.7 5*6 2.5 2 .5 6.9 4.5 4-86 5*5 5.6 5.7 5.5 5*5 2.6 2 .9 5.9 4.2 766.9 4.0 774.5 1-87 4.8 5.0 5*0 4.7 4.4 2.0 2.1 4 .2 2.5 1.6 -0*8 2-87 4.5 4 .5 4 .4 4.1 5.8 1.7 1.7 5.5 1.8 0.9 -0 .6 -0 .4 5-87 4.4 4.6 4.5 4.5 4.0 2.2 2 .5 5.7 2.5 2.1 1.4 2.6 5.7 4-87 4.5 4.6 4.6 4.5 4.1 2 .5 2 .6 5.9 2.9 2.7 2.5 5.4 5.4 5 .0 1-88 5.6 5.7 5.5 5.2 5.0 1.4 1.4 2.5 1.5 0.8 0.2 0.5 0.7 -1 .7 772.9 772.2 782.9 792.6 - 7 .9 776.4 2-88 5.6 5.7 5.6 5.5 5.0 1.6 1.6 2.5 1.6 1*5 0.8 1.1 1.5 0*2 - 2 .2 5.9 5-88 5.1 5.1 5.0 2.7 2 .4 1.0 1.0 1.7 0.9 0*4 -0 .1 0.1 0.1 -1 .2 - 5 .2 - 0 .7 -5 .2 4-88 5.5 5.6 5.5 5.5 5 .0 1.8 1.9 2 .4 1.9 1*6 1.5 1.7 2.0 1.5 0*4 5.5 5.0 11.9 1-89 5.4 5.5 5.4 5.1 2 .9 1.8 1.8 2 .5 1.9 1*6 1.4 1.6 1.9 1.5 0.6 2 .8 2.5 6.5 1.4 2-84 5-84 4-84 1-85 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 4-88 785.8 775.5 795.5 798.5P IN IT IA L QUARTER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 25» 1989 17 D IS P O S A B LE P E R S O N A L IN C O M E IN C U R R E N T D O L L A R S (Com pounced A n n u a l K a te s o f Change) TERMINAL QUARTER 2-84 3-84 4-84 1-85 5-84 7.5 4-84 « .« 5.7 1-85 « .2 5 .5 5.4 2-85 7.9 8 .0 9.1 15.1 2-85 5-85 4-85 1-8« INITIAL QUARTER ANNUAL RATES 2-8« 5-8« 4-8« 1-87 2-87 B IL LIO N S OF DOLLARS 5-87 4-87 1-88 2-88 5-88 4-88 2.691.1 2.728.6 2*764.6 2.850.7 5-85 5 .9 5 .5 5 .5 5 .5 -1 .5 4-85 « .4 «.1 6.5 6.6 5.5 2*840.0 8.6 2*899.5 1-8« « .8 6.7 6.9 7.5 5.4 9.0 9.4 2-8« « .8 « .7 6.9 7.2 5.8 8.4 8 .2 7.1 5-8« « .5 6.2 6.2 6.4 5.1 6.8 6.2 4.6 2.2 4-8« «.1 5.9 6.0 6.1 4.9 6.5 5.7 4.5 5.2 4.5 1-87 « .5 6.4 6.5 6.6 5.8 7.0 6.7 6.0 5.7 7.5 10.7 2-87 «.1 5 .9 6.0 6.0 5.2 6.2 5.8 5.1 4.6 5.4 5.9 1.5 5-87 « .5 6.2 6.5 6.4 5.6 6.6 6.5 5.8 5.5 6.5 7.0 5.2 9.5 4-87 « .7 6.6 6.7 6.8 6.2 7.1 6.9 6.6 6.5 7.4 8 .2 7.4 10.5 11.8 1-88 « .7 6.7 6.8 6.9 6.5 7.2 7.0 6.7 6.6 7.4 8 .0 7.4 9.5 9.6 7.4 2-88 « .7 6.6 6.7 6.8 6.5 7.0 6.8 6.6 6.5 7.1 7.6 7.0 8.5 8 .2 6.5 5.6 2*965.1 5*016.5 5.052.4 5*064.7 5*145.9 5*154.1 5*224.9 5.515.8 5.575.6 5,421.5 5-88 « .9 6.8 6.9 7.0 6.6 7.5 7.2 7.0 6.9 7.5 8 .0 7.6 8.9 8 .8 7.8 8 .0 10.4 4-88 7.0 7.0 7.0 7.2 6.7 7.4 7.5 7.1 7.1 7.7 8.1 7.7 8.9 8 .8 8.0 8 .5 9.6 8.8 1-89 7.5 7.5 7.4 7.5 7.2 7.8 7.8 7.6 7.7 8 .2 8 .7 8.4 9.5 9.5 9.1 9.5 10.8 11.0 15.5 2-84 5-84 4-84 1-85 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 5*507.5 5*582.5 5.6 9 6 .OP INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25» 1989 DISPOSABLE PERSONAL INCOM E IN 1982 DOLLARS (Compounded Annual Rates of Change) TERMINAL QUARTER 2-84 5-84 4-84 1-85 5-84 5.7 4-84 5.5 2.8 1-85 2.9 2.5 2.1 2-85 4.4 4.6 5.5 8 .9 2-85 5-85 4-85 1-86 INITIAL QUARTER ANNUAL RATES 2-86 5-86 4-86 1-87 2-87 5-87 BILLIONS OF DOLLARS 4-87 1-88 2-88 5-88 4-88 2*479.2 2*496.5 2*509.4 2*565.5 5-85 2.6 2.5 2.1 2.1 -4 .5 4-85 2.9 2.7 2.7 2.8 -0 .1 4.4 1-86 5.6 5.6 5.8 4.2 2.7 6.5 8.5 2-86 4.0 4 .0 4.2 4.6 5.6 6.4 7.4 6.5 5-86 5.5 5.5 5.5 5.5 2.5 4.5 4.2 2.5 -1 .8 4-86 5.1 5.0 5.0 5.2 2.2 5.6 5.4 1.8 -0 .5 0.8 1-87 5.2 5.2 5.2 5.5 2.6 5.8 5.6 2.5 1.2 2.7 4.6 2-87 2.6 2.5 2.5 2.5 1.7 2.6 2.5 1.2 -0 .1 0.4 0.5 -5 .9 5-87 2.8 2 .7 2.7 2.7 2.1 2.9 2.7 1.8 0.8 1.5 1.7 0.5 4.8 4-87 5.0 5.0 5.0 5.1 2.5 5.5 5.2 2.5 1.8 2.6 5.0 2.5 5.8 6.9 1-88 5.2 5.1 5.2 5.5 2.8 5.5 5.4 2.8 2.5 5.0 5.4 5.1 5.5 5.9 5.0 2-88 5.0 2.9 2.9 5.0 2.5 5.2 5.0 2.5 2.0 2.5 2.8 2.5 4.1 5.9 2.5 0.0 5-88 5.1 5.1 5.1 5.2 2.8 5.4 5.5 2.8 2.4 2.9 5.2 5.0 4.4 4.5 5.5 2.8 5.6 4-88 5.2 5.1 5.2 5.2 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 1-89 5.4 5.4 5.4 5.5 5.2 5.7 5.7 5.5 5.0 5.5 5.8 5.7 4.9 4.9 4.5 4.5 5.8 5.9 7.8 2-84 5-84 4-84 1-85 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 2*555.4 2*562.8 2*614.5 2*655.9 2*645.9 2*649.4 2*679.6 2*652.8 2*685.9 2*728.9 2*762.5 2*762.2 2*800.4 2*828.4 2*882.2P I N IT IA L QUARTER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS MAY 2 5 . 1 9 8 9 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 a p o u M A n n u l Rates o f Change) TERMINAL QUARTER 2-8 4 5-84 4 -8 4 5-84 -2 5 .5 4-84 -1 5 .2 1-85 -2 4 .2 -2 4 .« -5 9 .4 2-85 -1 7 .9 -1 5 .9 -2 0 .4 1-85 2 -8 5 5-8 5 4 -8 5 1-84 IN IT IA L QUARTER ANNUAL RATES 2-8« 5-8« 4-8 6 1-87 2 -8 7 BILLIO NS OF DOLLARS 5-87 4 -8 7 1-88 2 -8 8 5-8 8 4-8 8 141.4 159.2 - « .1 122.8 124.2 4 .« 129.2 5-85 -1 1 .8 -8 .« -9 .5 10.7 17.1 4-85 -7 .2 -5 .5 -2 .9 15.7 18.5 19.9 1-8« -1 1 .0 -8 .8 -9 .5 0.5 -l.l -9 .1 -5 1 .0 2-8« -8 .9 -« .« -« .7 1.7 1.0 -5 .9 -1 4 .0 7.5 5-8« -5 .7 -5 .2 -2 .7 5.5 5.4 2 .« -2 .« 15.8 25.0 155.2 125.2 125.4 152.6 157.9 4-8« -5 .« -1 .1 -0 .5 « .9 7.2 5.4 2.0 1«.2 20.9 17.0 1-87 - 5 .9 -1 .7 -1 .2 5.0 5.1 5.2 0.2 10.0 10.9 4.4 2-87 -2 .5 -0 .1 0.5 « .4 « .« 5.2 2 .9 11.5 12.5 8.6 4.7 17.6 5-87 -0 .5 1.9 2 .« 8 .2 8 .« 7 .« 5 .9 15.8 15.1 12.7 11.4 21.7 4-87 -1 .1 0.9 1.5 «.4 « .« 5.5 5.8 10.1 10.5 7.8 5.7 10.2 6.6 -9 .8 1-88 -0 .5 1 .« 2.2 « .8 « .9 « .0 4.5 10.1 10.5 8.5 6.6 10.5 7.9 -0 .1 10.6 2-88 1.8 5.8 4 .« 9.0 9.4 8 .7 7.7 15.2 15.9 12.« 11.7 15.8 15.5 11.9 24.7 40.7 155.5 -6 .8 141.1 149.5 26.0 145.7 149.4 162.7 169.1 5-88 2.7 4 .« 5 .5 9 .« 10.0 9.4 8 .5 15.5 14.2 12.9 12.4 15.9 15.6 15.1 22.0 28.1 16.7 4-88 5.2 5.1 5.8 9.8 10.2 9.7 8 .9 15.5 14.1 15.0* 12.5 15.6 15.2 15.2 19.8 25.0 15.0 15.4 1-89 2.7 4.4 5.0 8 .7 9.0 8 .4 7 .« 11.7 12.1 10.9 10.2 12.5 11.8 9.6 14.0 14.9 7.4 5.0 -6 .5 2-84 5-84 4-84 1-85 2-85 5-85 4-85 1-8« 2-8« 5-86 4-86 1-87 2-87 5-87 4-87 1-88 2-88 5-88 4-88 174.5 171.6P INITIAL QUARTER P- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS MAY 25* 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 Income 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 INVENTORIES COMPARED WITH MANUFACTURING MONTHLY SALES AND TRADE SEASONALLY ADJUSTED 72 72 1 .6 8 68 1 .6 4 64 1 .6 0 60 56 56 1 .5 2 52 48 48 44 44 40 40 36 36 1975 1976 1977 1978 1979 1980 1981 1982 1983 1984 1985 SOURCE: * BEG INNING IN 1982, INVENTORY DATA REFLECT CHANGES 1986 1987 1988 1989 U .S.DEPARTM EN T OF COMMERCE IN E STIM A TION PROCEDURES. SHADED AREAS REPRESENT PERIODS OF BUSINESS R E C E SS IO N S . LATEST DATA PLO TTE D : MARCH PRELIMINARY PREPARED 20 BY FEDERAL RESERVE BANK OF ST. LOUIS
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