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N a t io n a l E c o n o m ic T
J u n e 1991
O n

A p r il

25,

1 9 9 1 , th e N a t io n a l B u r e a u

o f E c o n o m ic

R e se a rch

B u s in e s s

p e a k o f th is n a t io n ’ s lo n g e s t p e a c e t im e e c o n o m ic e x p a n s io n o c c u r r e d
th e

end

o f a g e n e ra l

e c o n o m ic

e x p a n s io n

d e s ig n a t e a s t h e p e a k is s u b je c t to
e x a m p le ,

th e

t a b le

b e lo w

and

th e

s ta rt o f th e

o f th e

s e r ie s

peaked

R e c e n t

P e a k s

th e

Ju ly ,

in

O c to b e r

1988

W ages

Ja n u a r y

1989

peak

m o n th s

M arch

w h ile

S e le c t e d

E m p lo y e e s

and

S a la r ie s
in

in

s ix

fo r

20

o f th e m

E c o n o m ic

in d iv id u a l

U n e m p lo y m e n t R a t e

N um ber

o f P e rso n s

M ay

A ve ra g e

W e e k ly

\ugust

R e t a il S a le s
1990

E m p lo y m e n t in

M ay

T o ta l C iv ilia n

Ju n e

E m p lo y e e
In d e x

N o n fa rm

in

E m p lo y m e n t

Less

(m id d le

m o n th

M a n u fa c tu r in g
of Goods

and

th a t h a v e

O c to b e r

s p e c ific

m o n th

e c o n o m ic a n a ly s ts .
been

used

in

th e

to

Fo r

p a s t to

1 98 8 th ro u g h N o v e m b e r

1990;

Ju ly .

U s e d

to

In d u s t r ie s

D a te

(1 9 8 2

C y c lic a l

T u r n in g

P o in t s

d o lla r s )

b a s is )

(in v e r te d

A c tiv itie s

b a s is )
(in v e r te d

b a s is )

(h o u s e h o ld

su rve y)

E s t a b lis h m e n t s

(e s ta b lis h m e n t s u r v e y )

(1 9 8 2

d o lla r s )

d o lla r s )
T ra n s fe r

o f q u a rte r;

T ra d e

S a le s

O u tp u t (m id d le

P a y m e n ts

(1 9 8 2

d o lla r s )

1 9 8 2 d o lla r s )
(1 9 8 2
m o n th

d o lla r s )
o f q u a rte r;

1982

d o lla r s )

In d u s t r ia l P r o d u c t io n
P e r s o n a l C o n s u m p tio n

N ovem ber

d is p e r s e d f r o m

a fte r

U n e m p lo y m e n t R a t e

P e r s o n a l In c o m e

P e rs o n a l In c o m e

S e p te m b e r

(in v e r te d

N o n fa rm

(1 9 8 2

V a lu e

s e r ie s

o f th e

E m p lo y m e n t

H o u rs

D is p o s a b le

G N P

a b u s in e s s c y c le p e a k m e a s u r e s
c h o ic e

d o lla r s )

P e r s o n a l In c o m e

A ugust

S e r ie s

e c o n o m ic

th a t th e

o f C o in c id e n t In d ic a t o r s

N o n fa rm

Ju ly

th e

announced

In d u s t r ie s

U n e m p lo y e d

In s u r e d

(1 9 8 2

peaked

G o o d s - P r o d u c in g

G o o d s - P r o d u c in g

C iv ilia n

M arch

1990. W h ile

C o m m itte e

s o m e u n c e r t a in t y a n d , p e r h a p s , d iff e r e n c e s in ju d g m e n t a m o n g

show s

b e fo re

D a tin g

s u b s e q u e n t r e c e s s io n ,

s e le c t b u s in e s s c y c l e t u r n in g p o in t s . T h e i r p e a k m o n t h s a r e w i d e l y
11

in J u l y

C y c le

F in a l

v ie w



S a le s

(m id d le

E x p e n d itu r e s

m o n th

(1 9 8 2

o f q u a rte r;

d o lla r s )

1 9 8 2 d o lla r s )

— C o u rte n a y

THE
FEDERAL
RESERVE
BANK of
SE L O T H

s e x p r e s s e d d o n o t n e c e s s a r ily r e f le c t o ffic ia l p o s itio n s o f t h e F e d e r a l R e s e r v e S y s te m .

C .

S to n e

T O T A L C IV IL IA N E M P L O Y M E N T
(Compounded A nnual Rates of Change)

12-89
1-90
2-90
3-90
4-90
5-90
6-90
7-90
8-90
9-90
10-90
11-90
12-90

2
.1
2
.6

1 .7

2-90

3-90

TH O U S A N D S
OF PERSONS

MONTH

6-90

5-90

4-90

7-90

8-90

9-90

10-90

I
x>
o

12-89

1-91

2-91

3-91

3 .1

1 .9

11-89

|

10-89
11-89

10-89

1

9-89

I
*
o

IN IT IA L

TE R M IN A L
M ONTH

117 »619
1 1 7 ,9 2 0
1 1 7 .9 5 7

0 .4

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

1 1 7 .9 4 5

- 0 .1

1 .4

0 .5

1 .3

1 .3

1 .4

0 .9

0 .3

0 .5

0 .5

0 .9

0 .3

0 .4

1 1 8 .2 3 7

0 .7

- 0 .4
- 2 .0

- 3 .5

- 1 .1

- 1 .0

- 2 .0

- 2 .7

- 0 .6

- 0 .4

- 1 .0

- 1 .2

- 0 .7

- 0 .6

- 1 .1

- 1 .3

- 0 .5

- 0 .8

- 1 .1

- 1 .0

- 1 .5

- 1 .7

- 1 .3

- 1 .0

- 2 .5

- 3 .5

- 0 .5

- 0 .7

- 0 .7

- 1 .0

- 1 .1

- 0 .6

- 0 .3

- 1 .0

- 0 .8

1 .9

- 0 .4

- 0 .3

- 0 .4

- 0 .6

- 0 .1

- 0 .1

- 0 .3

- 0 .2

- 0 .2

- 0 .2

- 0 .4

- 0 .5

- 0 .5

- 0 .6

- 0 .3

- 0 .2

1 1 8 .2 7 7

1 .9

- 0 .7

- 0 .1

- 0 .3

- 0 .3

- 0 .3

0 .3

1 1 8 .0 9 0

- 1 .5

0 .7

0 .5

- 0 .1

0 .4

1 1 8 .2 3 5

1 .5

0 .3

0 .7

0 .5

1 1 8 .0 7 4

1 .3

- 0 .9

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

- 1 .9

0 2
.0 .0
0
.2

1 1 7 .8 8 5
- 1 .5

1 1 7 .7 3 3
1 1 7 .3 8 6
1 1 7 .5 7 4

- 0 .3

- 0 .5

- 0 .7

- 0 .8

- 0 .9

- 1 .1

- 1 .3

- 1 .3

- 1 .7

—1 *9

- 1 .6

- 1 .6

- 2 .4

- 2 .7

- 2 .3

- 6 .5

2-91

- 0 .3

- 0 .4

- 0 .7

- 0 .8

- 0 .8

- 1 .0

- 1 .2

- 1 .2

- 1 .5

- 1 .7

- 1 .4

- 1 .3

- 2 .0

- 2 .1

- 1 .6

- 3 .3

3-91

- 0 .4

- 0 .5

- 0 .7

- 0 .8

- 0 .9

- 1 .0

- 1 .3

- 1 .2

- 1 .5

- 1 .7

- 1 .4

- 1 .4

- 1 .9

- 2 .0

- 1 .6

- 0 .1

- 0 .3

- 0 .4

- 0 .4

- 0 .5

- 0 .7

- 0 .6

- 0 .8

- 0 .9

- 0 .5

- 0 .4

- 0 .7

- 0 .6

10-89

11-89

12-89

1-90

2-90

3-90

4-90

5-90

6-90

7-90

8-90

9-90

4 -91

0
.0
9-89

IN IT IA L

?
*
o

1-91

0
.0
11-90

12-90

- 0 .9

1
.6
1-91

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

- 1 .7

6
.8

2 .5

2-91

1 1 7 .3 9 8

3-91

M ONTH

PREPA RED BY
M AY 3» 1991

P A Y R O L L

- 2 .8
- 0 .4

1 1 6 .9 2 2

0
.0

FED ERAL

RESERVE

BANK

OF

ST .

L O U IS

E M P L O Y M E N T

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
T E R M IN A L
M ONTH

IN IT IA L

10-89
11-89

10-89

1
.2
2
.1

11-89

12-89

1-90

2-90

3-90

5-90

4-90

3 .0

1 .9

2
.2

1 .5

2 .5

2 .3

3 .0

2-90

2 .4

2 .7

2
.6

3 .2

3-90

2 .3

4-90

2
.1

5-90

2 .4

6-90

2 .4

7-90

2
.1

8-90

1 .7

9-90

1
.6

2-91

PERSO N S

3-91

1 0 9 ,6 5 4
1 0 9 .9 5 8

2 .7

2 .7

2 .7

2 .4

2 .7

2 .4

10 2
1.12
1 1 0 .1 7 7

3 .6

1 .5

1 .5

1 .3

1 .3

0 .9

0 .5

0 .5

- 0 .1

- 0 .2

1 .5

0 .3

0 .3

0
.0

- 0 .4

1 1 0 .7 4 0

- 1 .2

- 1 .4

- 0 .8

- 0 .7

- 1 .1

- 1 .1

1 1 0 ,6 1 3

0
.0
- 1 .0

1 1 0 .6 1 2
- 1 .9

1 1 0 .4 3 2

- 0 .8

- 1 .4

- 1 .5

- 1 .6

- 2 .4

- 2 .9

- 0 .9

- 1 .5

- 1 .6

- 1 .6

- 2 .2

- 2 .3

- 1 .7

1 1 0 .1 6 5
1 1 0 ,0 0 4

- 0 .3

- 0 .4

- l. l

- 1 .6

- 1 .7

- 1 .7

- 2 .2

- 2 .2

- 1 .9

- 2 .1

- 0 .4

- 0 .6

- 0 .7

- 1 .3

- 1 .8

- 1 .9

- 2 .0

- 2 .3

- 2 .4

- 2 .3

- 2 .6

- 3 .1

- 0 .1

- 0 .3

- 0 .6

- 0 .8

- 0 .9

- 1 .4

- 1 .9

- 2 .0

- 2 .0

- 2 .4

- 2 .5

- 2 .4

- 2 .6

- 2 .8

- 2 .6

- 0 .1

—0 . 2

- 0 .4

- 0 .6

- 0 .8

- 0 .9

- 1 .4

- 1 .8

- 1 .9

- 2 .0

- 2 .2

- 2 .3

- 2 .2

- 2 .3

- 2 .4

- 2 .0

- 1 .4

11-89

12-89

1-90

2-90

3-90

4-90

5-90

6-90

7-90

8-90

9-90

10-90

11-90

M

1-91

2-91

3-91

0 .4

IN IT IA L

1

10-89

0

- 0 .1

- 0 .1

0 .4

0 .4

0 .7

1

1 .7

1 .7

1 1 0 ,8 2 9

2 .3

0 .9

1 .7

0
.2

1 1 0 .6 1 7

4 .9

2
.1
1 0
.2 .0
1 0
.0 .0

1 .7

0 .3

9-89

1-91

2 .7

2 .5

0 .7

4-91

2 .4

2 .5

0 .4

3-91

12-90

1 .9

1
.0
0
.8

1-91

11-90

3 .4

2 1
.6 .8
2 2 2
.2 .1 .2
1 0
.2 .6
2
.6
2
.6
2
.6
2
.6
2 2 2 2
.2 .1 .1 .0
1 1
.2 .1
1
.8
1
.0
1
.6
0
.6
1 1
.2 .2
1 0 0 0
.0 .8 .8 .6
0
.1
0 0 0
.8 .6 .6
0
.1
0
.1
0
.6
0 0
.2 .1
0 0
.2 .0
0
.1
2 .5

1 .3

2-91

10-90

0

12-90

9-90

1 0 9 ,3 8 3

r4

11-90

8-90

1 0 8 .9 8 0

2
.2

10-90

7-90

6-90

1 0 9 ,2 4 5

1-90

12-89

TH O USAN D S

M ONTH

OF
9-89

1 0 9 .8 1 3
1 0 9 ,5 2 7
1 0 9 .2 8 6 P
1 C 9 .1 6 2 P

M ONTH

P - P R E L IM IN A R Y




P R EP A R ED B Y FE D E R A L R E S E R V E BANK O F S T .
M A Y 3 . 1991

2

L O U IS




EMPLOYMENT
RATIO

RATIO

SCALE

SEASONALLY ADJUSTED

MILLIONS OF PERSONS

1983

1984

1985

1986

1987

SCALE

MILLIONS OF PERSONS

1988

1989

1990

1991

SOURCE: U.S.DEPARTMENT O LABOR
F
BEGINNING JANUARY 1986. TOTAL EMPLOYMENT DATA INCORPORATE N PROCEDURES FOR ESTIMATING
EW
MEASURES O IMMIGRATION A D EMIGRATION INCREASING TOTAL EMPLOYMENT BY ABOUT O.VX.
F
N
PERCENTAGES ARE ANNUAL RATES O CHANGE FOR PERIODS INDICATED.
F
LATEST DATA PLOTTED: APRIL PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK O ST. LOUIS
F

UNEMPL OYM ENT RATE
PERCENT

SEASONALLY

ADJ USTED

PERCENT
11.0

10.

10.0

9.

9.0

8.

8.0

7.

7.0

6.

6.0

5.

5.0

4.

4.0
1983

1984

1985

1986

1987

1988

1989

1990

1991

SOURCE« U.S. DEPARTMENT O LABOR
F
PERCENT O CIVILIAN LABOR FORCE
F
LATEST DATA PLOTTED: APRIL
PREPARED BY FEDERAL RESER VE BANK OF S T .

LO U IS

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
(Compounded A nnual Rates of Change)
TE R M IN A L
M O N TH

IN IT IA L
2-90

3-90

4-90

M ONTH
7-90

6-90

5-90

1 9 8 2 -8 4 = 1 0 0
8-90

9-90

I
M

12-89

11-90

10-90

©

11-89

0

10-89

a
s
1

9-89

1-91

2-91

3-91
1 2 5 .4

10-89

4 .9

11-89

4 .9

4 .9

12-89

4 .9

4 .9

4 .9

1-90

6
.6

7 .2

8 .4

2-90

6 .5

6
.8

3-90

6
.2

6 .4

4-90

5 .7

5-90
6—9 0

1 2 5 .9

1 2 7 .6
5 .8

7 .5

5 .3

4 .8

6 .3

4 .5

3 .8

2
.8

3 .8

3 .2

2 .4

1 .9

4 .6

4 .3

4 .1

4 .7

7 .7

4 .4

4 .3

4 .7

6
.2

5 .2

5 .3

5 .3

5 .4

5 .5

5 .6

5 .6

5 .8

7-90

5 .4

5 .5

5 .5

5 .6

4 .6

8-90

5 .9

11-90

1 2 9 .2
1 3 0 .0
1 3 0 .5

4 .7

1 .6
0
6
.2
6 6 6 8 8 1.1
.0 .2 .8 .1 .2 0
8 8
.0 .1
6 6
.1 .1
6
.0
6 6
.1 .2
6
.0
6
.1
6
.6
6 6 6
.0 .1 .2
6 6 6
.0 .0 .1
6 6
.0 .6
6
.1
6
.1
6 6 6
.0 .1 .2
6
.2
6
.6
6 .3

6 .4

6 .4

6 .5

6 .4

5 .4

5 .5

7 .6

9 .5

6 .3

5 .9

6 .5

12-90

5 .9

5 .7

5 .6

5 .9

5 .6

5 .6

5 .7

5 .4

5 .4

5 .8

5 .9

5 .4

8 .5

7 .5

7 .8

6 .9

5 .6

3 ..7

4 .9

3 .. 7

3 .6

5 .9

5 .1

4 ..3

4 .6

5 .5

5 .4

7 .2

5 .7

2-91

7 .2

5 .7

1-91

1 3 2 .6

9 .2

6 .9

5 .9

5 .7

1 3 1 .6

7 .6

5 .9

6 .7

6 .3

6 .3

5 .4

4 .6

3 . .9

3 .9

4 .1

2 .7

2
2

.,9

2 .7

2 .4

0 .9

- 0 .9

<
.9

2 .7

2 .5

1 .5

0 .9

2 .7

10-90

11-90

S
O

9-90

1 2 8 .7
1 2 9 .0

1-91

2-91

3-91

6 .9

6 .7

6 .4

5 .7

6 .7

5 .9

3-91

5 .3

5 .3

5 .4

5 .4

5 .0

4 .9

4 .9

5 .1

5 .4

5 .2

5 .2

4 .5

3 .7

4-91

5 .2

5 .2

5 .2

5 .2

4 .8

4 .7

4 .7

4 .9

5 .2

4 .9

4 .9

4 .2

3 .5

9-89

10-89

11-89

12-89

1-90

2-90

3-90

4-90

5-90

6-90

7-90

8-90

1 3 3 .4

9-90

IN IT IA L

1 3 3 .8
1 3 4 .2

o

5 .8

10-90

1 2 8 .2

8 .9

6
.8
6
.0

r\
>
l

7 .5

1 2 6 .4

1.0
2

P R IC E

1 3 5 .0
1 3 5 .3

M ONTH

PREPA RED BY FED ERAL
M AY 1 4 , 1991

P R O D U C E R

1 3 4 .8
1 3 5 .1

IN D E X , F IN IS H E D

RESERVE

BAN K

OF

ST .

L O U IS

G O O D S

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
T E R M IN A L
M ONTH

IN IT IA L
11-89

12-89

1

10-89

10-89

0

9-89

2-90

5-90

7 .6

MONTH

4-90

1982

5-90

6-90

7-90

8-90

9-90

10-90

11-90

*

100

12-90

1-91

2-91

3-91

1 1 4 .8

11-89

3 .7

0
.0

12-89

5 .0

3 .7

7 .6

1-90

9 .2

9 .7

1 5 .0

2 2 .9

2-90

7 .1

6 .9

9 .4

1 0 .3

1 1 4 .8
1 1 5 .5
1 1 7 .5
- 1 .0

1 1 7 .4

3-90

5 .7

5 .3

6 .7

6 .4

- 1 .0

- 1 .0

4-90

4 .7

4 .2

5 .1

4 .5

- 1 .0

- 1 .0

- 1 .0

5-90

4 .6

4 .2

4 .9

4 .4

0 .3

0 .7

1 .5

6-90

4 .1

5 .7

4 .2

3 .7

0
.2

0 .5

7-90

4 .1

3 .7

4 .2

3 .7

0 .9

1 2 0
.0 .1 .0
1 1 2 2
.2 .8 .8 .1

8-90

5 .0

4 .7

5 .3

5 .0

2
.6

3 .3

4 .1

5 .5

5 .9

9 .0

1 4 .1

9-90

5 .9

5 .7

6 .3

6
.2

4 .2

5 .0

6
.1

7 .5

8 .4

1 1 .3

1 5 .1

1 6 .2

1 1 7 .3
1 1 7 .2
4 .2

1 1 7 .6
1 1 7 .6
4 .2

1 1 8 .0
1 1 9 .3

10
2.8

10-90

6
.6

6 .5

7 .1

7 .1

5 .5

6 .3

7 .4

8 .9

9 .9

1 2 .5

1 5 .4

1 6 .1

1 6 .0

11-90

6 .5

6 .4

7 .a

6 .9

5 .4

6
.2

7 .1

8 .5

9 .0

1 0 .9

1 2 .7

1 2 .3

1 0 .4

12-90

5 .7

5 .6

6
.0

5 .9

4 .5

5 .0

5 .7

6
.6

6 .9

8
.2

9 .0

7 .7

5 .1

1-91

5 .1

5 .0

5 .4

5 .2

3 .8

4 .3

4 .8

5 .5

5 .7

6 .5

6 .9

5 .5

3 .0

2-91

4 .4

4 .2

4 .5

4 .3

3 .0

3 *5

5 .7

4 .2

4 .2

4 .8

4 .8

3 .4

3-91

3 .9

5 .7

4 .0

3 .7

2 .5

2 .7

5 .1

5 .4

5 .4

5 .8

5 .7

2 .3

1
.0
0
.2

4-91

3 .8

3 .6

5 .8

3 .6

2 .4

2 .7

5 .0

5 .5

5 .5

5 .6

5 .5

2 .3

9-89

10-89

11-89

12-89

1-90

2-90

5-90

4-90

5-90

6-90

7-90

8-90




IN IT IA L

1 2 2 .3

12
2.8

5 .0

0
.0

1 2 2 .3

- 4 .8

12
2.0

- 1 .0

- 3 .8

- 2 .9

- 2 .4

- 4 .8

- 4 .8

- 6 .7

- 2 .7

- 4 .6

- 4 .5

- 5 .3

- 3 .9

0 .4

- 2 .0

- 3 .3

- 2 .9

- 2 .9

- 1 .0

9-90

10-90

11-90

12-90

1-91

2-91

1 2 1 .3
1 2 0 .9

2
.0

11
2.1

3-91

M ONTH

P R EP A R ED B Y F E D E R A L R E S E R V E BANK O F S T .
M AY 1 0 , 1991

4

L O U IS




RATIO

S CAL E

P R IC E S

1982-100

RATIO

SEASO N ALLY AD JUSTED

S CAL E

1982-100

CONSUMER P R IC E S DATA ARE ON A I9 B 2 - B 4 - I0 0 BA SE
C P I- U DATA BE G IN N IN G I B B S INCORPORATE A RENTAL EQ U IV A L E N C E MEASURE FOR HOM EOVNERSHIP C O STS.
PERC ENTAG ES ARE ANNUAL RA TES OF CHANGE FOR P E R IO D S
L A TEST DATA PLOTTED«

IN D IC A T E D .

A P R IL

PR EPA RED BY FED ERA L R E S E R V E BANK OF S T .

ratio scale

PR O D U C ER

1982-100

P R IC E S

SEASONALLY ADJUSTED

PE R C EN T A B ES ARE ANNUAL R A TES OF CHANGE FOR P E R IO D S
L A TEST DATA PLO T TED t

L O U IS

ratio scale
1982-100

IN D IC A T E D .

A P R IL

PREPARED BY FEDERAL RESERVE BA K O ST. LOUIS
N F

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
(Compounded A nnual Rates of Change)
TERMINAL
MONTH

IN IT IA L MONTH
9-89

10-89

11-89

12-89

1-90

2-90

3-90

4-90

5-90

6-90

7-90

1982 * 100
8-90

9-90

10-90

11-90

12-90

1-91

2-91

3-91
1 1 9 .9

1 4 .0

11-89

10-89

9 .5

12-89

5 .1

8 1.6
.8 2

1 0 .5

2-90

1 3 .0

»

o

a
s

1 3 .2

1 2 0 .4

11
2.6

1 7 .0

1 2 .9

1 .8
2
8
.8

2 .6
1

1 5 .4

1 6 .9

1 2 3 .6
1 2 4 .8

1 2 .3

3-90

9 .7

9 .8

8
.8

2 .9

- 5 .6

4-90

7 .0

5 .9

6
.1

4 .5

- 0 .6

- 6 .5

- 7 .5

5-90

6
.8

5 .8

5 .9

4 .6

0 .7

- 2 .9

- 1 .4

- 2 .6

- 1 .6

- 1 .0

6-90

5 .8

4 .8

4 .7

3 .5

7-90

5 .8

4 .9

4 .9

3 .8

0
.2
1
.1

8-90

5 .9

5 .1

5 .1

4 .2

1 .9

9-90

4 .9

4 .1

4 .0

3 .1

10-90

5 .0

4 .3

4 .3

3 .5

11-90

4 .8

4 .1

4 .0

3 .2

12-90

4 .2

3 .5

1-91

3 .6

3 .0

2-91

3 .6

3 .0

2
.6
2 2
.8 .1
2 2
.8 .2
2
.2
3 .0

2 .4

9-89

10-89

12-89

I

2 .9

M
>

3 .0
3 .1

2 6
.0 .0

3 .9

3 .6

6 .5

7 .0

1
.2

2 .3

0 .5

2 .3

3 .4

- 0 .3

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

- 0 .1

0 .4

- 0 .5

0 .4
0 .4

0 .5

1-90

2-90

1 2 3 .7

- 1 .9

1 .5
2 .9

0
.2
1
.6
0 .3

2 .5

1 .7

2
.1
1
.2
0
.6

0 .5

2 .9

1 2 4 .4
7 .0

- 1 .4

- 2 .2

- 3 .8

- 3 .8

- 0 .5

1
.1

- 1 .0

- 1 .6

- 0 .5

1 .4

- 0 .2

1 .7

- 0 .5

4-90

5-90

6-90

1 .3

1 .4

1 .7

IN IT IA L

1 .3

7-90

8-90

1 2 4 .4
2 .9

1 2 4 .7

2 .9

2 .9

3 .6

3 .9

4 .9

10-90

9-90

1 2 5 .0

12-90

1-91

2-91

3-91

1 2 5 .5

M ONTH

M AY

P R IC E

1 2 4 .8

1 .7

1 .5

PREPA RED

P R O D U C E R

1 2 5 .2

- 3 .8

- 1 .1

0 .9

1 2 5 .1

3 .9

- 0 .5

1 .4

3-90

- 5 .6

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

1 .3

0
.6
1
.0

1 2 4 .3
1 2 5 .0

O
s
1

3 .6
3 .6

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

1 2 3 .4
1 2 3 .9

5 .0

0

3-91
4-91

0
0

3 .4

0 .3

1 2 4 .2

IN D E X , F IN IS H E D

10»

G O O D S , E X C L U D IN G

BY

FED ERA L

RESERVE

BAN K

OF

ST.

L O U IS

1991

F O O D 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 )
T E R M IN A L
M ONTH

IN IT IA L
9-89

10-89

11-89

12-89

1-90

2-90

10-89

1
.6

12-89

2 .9

1
.6

1-90

7 .6

8 .4

1 4 .0

2-90

5 .2

5 .1

7 .7

8
.8

4 .1

3 .9

5 .4

5 .4

- 2 .6

3 .8

3 .6

4 .7

4 .6

- 1 .0

0 .5

5-90

3 .9

3 .7

4 .7

4 .5

0 .3

6-90

7-90

8-90

9-90

10-90

11-90

*

100

12-90

1-91

2-91

5-91

- 1 .0

4-90

1982

5-90

- 4 .1

3-90

M ONTH

4-90

5 .5

11-89

3-90

1 1 3 .1
- 2 .1

1 1 2 .9
5 .4

1 1 3 .4
1 1 5 .4

2 3 .3

1 1 5 .0
1 1 4 .9

2
.1

1 1 5 .1

6-90

3 .6

3 .3

4 .1

3 .9

0 .4

1
.8
1
.6

7-90

3 .5

3 .3

4 .0

3 .8

0 .9

1 .9

8-90

4 .8

4 .7

5 .5

5 .5

3 .1

4 .4

5 .5

6 .4

7 .1

1 0 .5

1 7 .9

9-90

6
.2

6 .3

7 .2

7 .4

5 .5

7 .0

8 .3

9 .6

1 1 .0

1 4 .6

2 0 .7

2 3 .7

7 .2

7 .3

8 .5

7 .0

8 .5

9 .9

1 .2
1

1 2 .7

1 5 .8

2 0 .4

2 .6
1

1 9 .6

1 .6
1

1 2 .7

3 .2

4 .3

1 1 5 .5

2 1
.6 .0
2 2 2
.6 .8 .1
2 .5

1 1 5 .6
5 .2

1 1 5 .9
1 1 7 .5

11-90

7 .1

7 .2

8
.2
8
.1

8 .3

6 .9

8
.2

9 .4

1 0 .5

1 5 .8

1 6 .6

1 6 .2

12-90

6
.2

6 .3

6 .9

7 .1

5 .7

6 .7

7 .6

8 .3

8 .9

1 0 .5

1.8
1

1 0 .5

5 .7

5 .7

6 .3

6 .3

5 .0

5 .9

6.6

7 .1

7 .5

8 .4

9 .4

7 .7

10-90

1-91

4 .5

5 .0

5 .5

5 .5

6.0

6 .4

4 .6

3 .1

3 .7

4 .1

4 .5

4 .5

4 .6

4 .8

5 .1

4-91

3 .9

3 .8

4 .2

4 .1

2 .9

3 .4

3 .8

5 .9

5 .9

4 .2

4 .5

2 .7

10-89

11-89

12-89

1-90

2-90

5 —9 0

4-90

5-90

6-90

7-90

8-90

CO

T

3 .8

4 .4




1
.2
0
.0
0
.0
9-90

1 2 1 .4

11
2 .2
10
2 .2

- 2 .0

- 2 .9

- 5 .8

- 5 .8

- 9 .5

- 5 .5

- 5 .8

- 5 .8

- 7 .7

- 5 .8

- 2 .9

- 4 .7

- 4 .4

- 5 .2

- 5 .0

1-91

2-91

10-90

©

5 .1

4 .4

- 5 .9

- 0 .7

*•
4

5 .1

4 .0

4 .1

0
s

4 .7

4 .1

- 5 .7

t

4 .7

3-91

12
2 .0

6
.1
6 0
.2 .0

e
*

2-91

1 1 9 .6
1 2 1 .4

1 1 9 .6

0
.0

1 1 9 .6

5-91

IN IT IA L MONTH

PREPARED BY FEDERAL RESERVE BANK OF ST . LOUIS
HAY 10* 1991

6

I N D U S T R I A L

RATIO

P R O D U C T I O N

RATIO

SCALE

SEASONALLY ADJUSTED

1987-100

SCALE

1987-100

PERCENTAGES ARE ANNUAL RATES O CHANGE FOR PERIODS INDICATED.
F
LATEST D
ATA PLOTTED* APRIL
PREPARED BY FEDERAL RESERVE BANK O ST. LOUIS
F

IN D U S T R IA L

P R O D U C T IO 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 )
IN IT IA L

T E R M IN A L
M ONTH

- 0 .6

12-89

2-90

3-90

4-90

5-90

6-90

1987

MONTH
7-90

8-90

10-90

9-90

11-90

12-90

1-91

2-91

1 0 8 .1

1 .5

5 .1

5 .7

1 -90

- 1 .9

- 0 .7

- 5 .3

2-90

0 .7

2
.2

5-90

1 .5

2 .7

4 .9

1 .7

1 .7

2 .7

2 .4

5 .4

3 .4

2 6
.8 .8

6-90

2 .5

5 .4

5 .2

5 .9

4 .5

4 .5

7 .4

8
.0

7-90

2 .4

5 .4

3 .2

2 .9

5 .5

4 .3

4 .2

6
.0

5 .6

2 .5

5 .1

3 .0

2
.6

4 .8

5 .7

3 .6

4 .8

4 .1

2
.2

2 .9

2 .5

4 .4

5 .5

3 .1

4 .0

3 .5

1 .4

3 .0

1 .9

1
.6

M

1
.1

5-90

0

9
s
1
0
0
9-90

1 0 7 .5

1.8
1
2 1 8
.2 .1 .1
1 2 1 0
.0 .1 .6 .6
1
.8
2
.8
1 .5

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

0 .5

- 0 .6

1 0 8 .5
4 .5

1 0 8 .9
- 1 .1

1 0 8 .8
1 0 9 .4

10
1.1
3 .3

1 1 0 .4

2 1
.2 .1
1 1
.8 .1
- 0 .5

1 1 0 .5

10
1.6

l . l

- 1 .8

- 3 .2

- 7 .3

1 0 9 .9

0 .9

- 0 .2

- 0 .8

- 0 .8

- 2 .0

- 3 .9

- 5 .6

- 7 .7

- 1 1 .8

- 1 6 .1

- 0 .7

- 0 .4

- 0 .8

- 1 .3

- 0 .3

- 1 .4

- 2 .1

- 2 .2

- 3 .4

- 5 .2

- 6 .8

- 8 .7

- 1 1 .7

- 1 3 .9

- 1 1 .5

1-91

- 1 .1

- 0 .8

- 1 .2

- 1 .7

- 0 .8

- 1 .9

- 2 .5

- 2 .7

- 3 .8

- 5 .4

- 6 .8

- 8 .3

- 1 0 .5

- 1 1 .5

- 9 .1

- 6 .5

2-91

- 1 .6

- 1 .4

- 1 .8

- 2 .3

- 1 .5

- 2 .6

- 3 .2

- 3 .4

- 4 .5

- 5 .9

- 7 .2

- 8 .5

- 1 0 .3

- 1 1 .0

- 9 .3

- 8 .1

- 9 .7

5-91

- 2 .0

- 1 .8

- 2 .2

- 2 .7

- 2 .0

- 5 .0

- 3 .6

- 3 .8

- 4 .8

- 6 .1

- 7 .2

- 8 .4

- 9 .9

- 1 0 .4

- 8 .0

- 8 .7

- 7 .7

4-91

- 1 .8

- 1 .6

- 2 .0

- 2 .4

- 1 .8

- 2 .7

- 3 .2

- 3 .4

- 4 .3

- 5 .4

- 6 .3

- 7 .2

- 8 .4

- 8 .5

- 5 .8

- 5 .5

- 3 .4

l . l

9-89

10-89

11-89

12-89

2-90

3-90

4-90

5-90

6-90

7-90

8-90

9-90

10-90

12-90

1-91

2-91

3-91

«

- 6 .9

o

IN IT IA L
P-

1 0 8 .3

9
s
1

9
s
1

o

- 0 .3

12-90

I
CD

11-90

1 0 8 .6
- 1 1 .5

o

10-90

100

1 0 7 .7
4 .5

12-89

4 —9 0

=

3-91

- 5 .4

11-89

11-89

1

10-89

10-89

0

9-89

1 0 7 .2
1 0 6 .6
1 0 5 .7
1 0 5 . OP
1 0 5 .IP

M ONTH

P R E L IM IN A R Y




PR EPA R ED B Y FE D E R A L R E S E R V E BANK O F S T .

7

L O U IS

P E R S O N A L

RATIO

TRILLIONS

IN C O M E

MONTHLY TOTALS AT ANNUAL RATES

SCALE
OF

SEASONALLY ADJ USTED

DOLLARS

RATIO
TRILLIONS

OF

SCALE

DOLLARS

4.8

4.4

4.0

3.6

3.2

2.8

2.4
1983

1984

1985

1986

1987

1988

1989

1990

1991

SOURCEt U.S. DEPARTMENT O CO M
F
M ERCE
PERCENTAGES ARE ANNUAL RATES O CHANGE FOR PERIODS INDICATED.
F
LATEST DATA PLOTTEDt APRIL PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK O ST. LOUIS
F

P E R S O N A L

IN C O M E

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
B IL L IO N S

9-89

10-89

10-89

7 .9

1-90

2-90

5-90

4-90

5-90

7-90

6-90

8-90

10-90

11-90

12-90

1-91

2-91

3-91

8 8
.2 .1

12-89

12-89

8 .5

11-89

11-89

4 ,4 4 1 .0
4 ,4 7 0 .0
7 .4

8 .4

8 .5

8
.6

9 .9

2-90

8 .4

8 .4

8 .5

9 .0

5-90

8 .5

8 .5

8
.6

4-90

7 .6

7 .5

5-90

7 .2

7 .1

0
9
s
1

7 .8

4 ,4 9 6 .7
4 ,5 3 2 .2

9 .0

8
.1
8
.6

9 .1

7 .4

7 .4

6 .5

5 .8

2
.6

6 .9

6 6
.8 .0

5 .3

3 .5

4 ,5 6 1 .6
4 ,5 9 4 .7
4 ,6 0 4 .5
4 .5

4 ,6 2 1 .4

6-90

7 .0

6 6
.8 .6

6 .5

5 .8

5 .3

4 .1

4 .8

5 .1

7-90

6 .9

6 .7

6 .4

5 .8

5 .4

4 .5

5 .2

5 .5

5 .8

8-90

6 .5

6 .4

5 .5

5 .0

4 .2

4 .7

4 .7

4 .5

3 .2

9-90

6 .5

6 .3

6 6
.2 .0
6 6
.1 .0

5 .5

5 .2

4 .5

4 .9

5 .0

5 .0

4 .6

6
.0

10-90

5 .9

5 .7

5 .5

5 .3

4 .8

4 .4

3 .8

4 .0

3 .9

3 .6

2 .9

2 .7

- 0 .5

11-90

5 .9

5 .7

5 .5

5 .3

4 .9

4 .5

4 .0

4 .2

4 .1

3 .9

3 .5

3 .6

2 .4

6
.0

5 .8

5 .6

5 .5

5 .1

4 .8

4 .3

4 .6

4 .6

4 .5

4 .2

4 .4

3 .9

5 .3

5 .1

4 .9

4 .7

4 .2

5 .9

3 .4

5 .5

5 .4

3 .1

2 .7

12-90
1-91

OF

D O LLA RS
ANNUAL R A T ES

M ONTH

T

IN IT IA L

v>
£
O

T E R M IN A L
MONTH

6 .5

4 ,6 4 0 .7
4 ,6 6 2 .7

2-91

5 .1

4 .9

4 .7

4 .5

4 .1

5 .8

3 .5

5 .4

3 .3

3 .0

2 .7

5-91

5 .1

4 .9

4 .7

4 .5

4 .1

5 .8

5 .4

3 .5

3 .4

3 .2

2 .9

4-91

4 .8

4 .7

4 .5

4 .3

3 .9

5 .6

5 .2

3 .3

3 .2

3 .0

2 .7

9-89

10-89

1 1-89

12-89

1 -90

2-90

5-90

4-90

5-90

6-90

IN IT IA L

7-90

4 ,6 7 5 .0
4 ,6 9 7 .8

2
.6
2
.6
2
.8
2 2
.6 .1

4 ,6 9 5 .9
5 .3

6
.2

4 ,7 1 6 .2
4 ,7 4 3 .3

7 .1

1 .9

2 .5

1
.1
1
.6

- 1 .1

2 .5

2 .3

2 .9

2 .3

0 .7

3 .5

2 .5

2
.0

0 .7

2 2 0
.6 .6 .8

1 .7

8-90

9-90

2 .5

10-90

11-90

4 ,7 2 4 .7

- 4 .6

12-90

1-91

4 ,7 3 4 .5
4 .5

2-91

4 ,7 5 1 .8
4 ,7 5 5 .IP

3-91

M ONTH

P - P R E L IM IN A R Y




PR EPARED B Y FE D E R A L R ES ER VE BANK O F S T .
M AY 3 1 , 1991

8

L O U IS

R E T A I L

RATIO

S A L E S

SCALE

RATIO

BILLIONS OF DOLLARS

SEASONALLY ADJUSTED

SCALE

BILLIONS OF DOLLARS

SOURCE> U.S. DEPARTMENT O COM ERCE
F
M
PERCENTAGES ARE ANNUAL RATES O CHANGE FOR PERIODS INDICATED.
F
LATEST DATA PLOTTEDi MARCH, APRIL ADVANCE ESTIMATE
PREPARED BY FEDERAL RESERVE BANK O ST. LOUIS
F

R E T A IL

S A L E S

(C o m p o u n d e d A n n u a ) R a te s o f C h a n g e )
T E R M IN A L
MONTH

IN IT IA L
D O LLA RS
9-89

10-89

11-89

12-89

1-90

2-90

3-90

MONTH

4-90

M IL L IO N S

5-90

6-90

7-90

8-90

9-90

10-90

11-90

12-90

OF
1-91

2-91

3-91
1 4 5 ,8 7 7

10-89

- 1 3 .6

11-89

- 2 .2

1 0 .7

12-89

- 1 .8

4 .7

- 1 .0

1 4 .5

1 6 .5

3 7 .1

9 .6

9 .2

1 4 .7

1-90

6
.8

2-90

4 .5

1 4 7 ,1 1 9
1 4 6 ,9 9 7
1 5 0 ,9 1 4
1 5 0 ,3 8 8

- 4 .1

3-90

3 .0

6 .7

5 .7

8
.0

- 4 .2

- 4 .2

4-90

1 .5

4 .3

3 .0

4 .1

- 5 .1

- 5 .6

- 6 .9

5-90

l . l

3 .4

2
.2

2 .9

- 4 .2

- 4 .3

- 4 .3

6-90

2
.2

4 .4

3 .5

4 .3

- 1 .2

- 0 .5

1 4 9 ,8 5 0

1 .8
1

4 .9

8 .3

4 .9

4 .5

6 .5

4 .0

3 .1

3 .6

5 .8

7 .8

6 .5

7 .2

1 1 .5

2 .7

4 .4

5 .6

4 .1

3 .9

4 .3

2 .9

4 .4

5 .4

4 .2

4 .0

4 .2

0
.8

l . l

- 0 .5

- 1 .6

- 2 .7

- 7 .0

- 9 .2

- 2 0 .9

- 1 .0

- 2 .7

- 3 .9

- 5 .2

- 9 .0

- 1 1 .0

- 1 7 .8

- 1 4 .5

0 .9

0 .4

- 0 .1

- 2 .2

- 2 .2

- 4 .2

5 .5

3 0 .2

7-90

2 .5

4 .5

3 .7

4 .4

- 0 .2

8-90

2
.6

4 .3

3 .7

4 .3

0 .3

9-90

3 .3

5 .0

4 .4

5 .0

10-90

2
.8

4 .3

3 .8

4 .3

11-90

2 .9

4 .3

3 .8

4 .2

12-90

l . l

2 .3

1
.6

1 .9

- 0 .8

- 0 .5

- 0 .1

0 .5

- 2 .1

- 1 .9

- 1 .6

- 1 .0

0 .5

0 .9

1 .7

1-91
2-91
3-91
4-91

0 1
.1 .1
1
.6
2
.2
1 2
.8 .8
2 2
.6 .1
0 .4

2 .7

2 .3

1 .7

9-89

10-89

11-89

1
.6
1 1
.1 .8
2
.1
2 .4

1 .4

2 .4

0
.1

2 .5

0 .4

2 .3

0 .3

0 .7

12-89

1-90

2-90

1 4 8 ,7 5 9

4 .9

2
.1

1 5 0 ,1 4 3
1 5 0 ,7 4 5

0 1 2
.8 .2 .0
1
.0
2 1
.0 .1
2 .3

1 .4

1 .7

3-90

4-90

5-90

6-90

IN IT IA L

1 5 1 ,1 3 5
1 5 2 ,5 1 2
1 5 2 ,1 9 1

- 2 .5

0
.8

1 5 2 ,7 1 1

4 .2

1 4 9 ,7 5 0
1 4 7 ,8 0 3
1 5 1 ,0 9 2

0 .9

0
.6

- 1 .1

- 0 .8

- 2 .0

5 .2

1 6 .7

4 .6

0 .7

0 .4

- 1 .1

- 0 .9

- 1 .8

3 .6

1 0 .5

1
.8

7-90

8-90

9-90

10-90

11-90

c>
\
I
*>
o

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

1 4 8 ,9 5 6
- 1 .6

1-91

2-91

1 5 1 ,6 6 2 P
- 1 .0

1 5 1 ,5 3 9 E

3-91

M ONTH

P - P R E L IM IN A R Y
E - E S T IM A T E D




PR EPA R ED B Y FE D E R A L R ESER VE BANK OF S T .
M AY 14* 1991

9

L O U IS

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
(Compounded Annual Rates of Change)
TE R M IN A L
Q U AR TER

IN IT IA L
2-86

3-86

4-86

1-87

2-87

3-87

4-87

1-88

2-88

Q U A R TE R
3-88

1982*100

4-88

1-89

2-89

3-89

4-89

1-90

2-90

3-90

4-90
1 1 9 .2

3-86

4 .1

4-86

4 .8

5 .5

1-87

4 .0

3 .9

2 .3

2-87

3 .4

3 .1

2
.0

1 .7

3-87

3 .5

3 .4

2 .7

2
.8

4-87

4 .2

4 .2

3 .9

4 .4

5 .8

7 .7

4 .0

3 .9

3 .6

4 .0

4 .7

5 .1

2
.6

4 .1

4 .1

3 .9

4 .2

4 .8

5 .1

3 .9

5 .2

18
-8
28
-8

10
2.8
1 2 1 .5

12
2.0
1 2 3 .2

4 .0

1 2 5 .5
1 2 6 .3
1 2 7 .9
1 2 9 .7

3-88

4 .3

4 .3

4 .1

4 .5

5 .0

5 .3

4 .5

5 .5

5 .7

4-88

4 .2

4 .2

4 .1

4 .3

4 .8

4 .9

4 .2

4 .8

4 .6

3 .4

1-89

4 .1

4 .1

3 .9

4 .2

4 .5

4 .6

4 .0

4 .4

4 .1

3 .3

3 .1

2-89

4 .0

4 .0

3 .8

4 .0

4 .3

4 .3

3 .8

4 .0

3 .8

3 .1

2 .9

3-89

3 .8

3 .7

3 .6

3 .7

3 .9

3 .9

3 .4

3 .6

3 .2

2
.6

2 .4

4-89

3 .7

3 .6

3 .5

3 .6

3 .8

3 .7

3 .3

3 .4

3 .1

2 .5

2 .3

1-90

3 .7

3 .7

3 .5

3 .7

3 .8

3 .8

3 .4

3 .5

3 .3

2 .9

2-90

3 .8

3 .8

3 .7

3 .8

3 .9

3 .9

3 .6

3 .7

3 .5

3 .2

1 3 0 .8
1 3 1 .8

2 .7

2
.8
2 1
.0 .2
2
.0
2
.1
2
.6
3 .3

4 .6

3 .1

3 .1

3 .2

3 .9

4 .8

1 3 2 .7
1 3 3 .1

1 .7

1 3 5 .3
5 .1

1 3 7 .0

3 .9

3 .8

3 .7

3 .8

4 .0

4 .0

3 .7

3 .8

3 .6

3 .4

3 .4

3 .4

3 .5

4 .1

4 .8

4 .9

4 .8

3 .8

3 .8

3 .7

3 .8

4 .0

4 .0

3 .7

3 .8

3 .6

3 .4

3 .4

3 .4

3 .5

4 .0

4 .5

4 .5

4 .1

3 .5

1-91

3 .8

3 .8

3 .7

3 .8

4 .0

4 .0

3 .7

3 .8

3 .6

3 .4

3 .4

3 .5

3 .6

4 .0

4 .3

4 .3

3 .6

3 .8

3-86

4-86

1-87

2-87

3-87

4-87

4-88

1-89

2-89

3-89

4-89

1-90

3-90

4-90

28
-6

18 28
-8 -8

3-88

IN IT IA L

P E R

H O U R

O F

A L L

2-90

1 3 8 .6
1 3 9 .8
1 4 1 .1

Q U A RTER

PREPA RED BY
M AY 8 ,
1991

O U T P U T

o

3-90
4-90

XS

2 .7

1 3 3 .8

P E R S O N S , B U S IN E S S

FED ERAL

R ESERVE

BANK

OF

ST.

L O U IS

S E C T O R

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
T E R M IN A L
Q U ARTER

IN IT IA L

28
-6

3-86

4-86

1-87

2-87

3-87

3-86

- 0 .5

1-87

- 0 .2

0 .7
1 .5

1 .7

2 .9

2 .4

3 .1

3 .1

3 .4

3 .5

3 .8

1-89

2-89

3-89

4-89

1-90

2-90

3-90

4-90

3 .0

2
.1

4-88

0 .4

0 .5

1 98 2*10 0
3-88

1
.1

2-87

Q U ARTER

18 28
-8 -8

- 2 .2

4-86

4-87

1 0 9 .1

4-87

1 .4

1 0 9 .5
1 1 0 .3

11
1.1
12
1 .0

2 .9
3 .3

2 .5

2 .4

2 1
.2 .6

3-88

2
.8
2
.1
2
.2

2 .5

2 .4

2 .3

1 .9

4-88

1 .7

1 .9

1 .7

1 .4

1
.0

1 .4

2 .5

1 .4

1 -89

1 .4

1 .4

1
.6

2-89

1 .3

1 .3

1 .4

3-89

0 .5
0 .5

3-90

0 .5

o

i

*
1

1-90
2-90

1-91

0 .4
0 .4

0 .7

1 1
.1 .1
0 0 0
.8 .8 .6
0
.0
0
.6
0
.2
0
.6
0
.0
0
.0
0
.6
0
.2
0
.6
0 0
.2 .0
0 0 0
.6 .6 .6
0 .9

0 .7

0 .3

0 .5

0 .7

2 .5

- 0 .1

0 .4

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

0
.1
0
.1
- 0 .2

1 1 3 .6
- 1 .7

1 1 3 .1

- 1 .1

- 0 .4

1 1 3 .0

0
.0

- 0 .7

- 0 .2

- 0 .9

- 0 .6

- 0 .7

- 1 .2

- 1 .1

- 1 .3

1 1 3 .0

12
1.6

- 1 .4
- 2 .5

0 .7

0 .5

- 0 .7

- 0 .6

- l. l

- 1 .0

- 1 .2

- 1 .5

- 1 .6

0 .7

0 .7

0 .5

0 .3

- 0 .5

- 0 .4

- 0 .9

- 0 .7

- 0 .8

- 1 .0

- 0 .8

0 .7

0 .5

0 .3

- 0 .4

- 0 .3

- 0 .7

- 0 .5

- 0 .5

- 0 .6

- 0 .4

- 0 .5

- 0 .4

- 0 .7

- 0 .6

- 0 .6

- 0 .7

- 0 .6

- 0 .4

- 0 .3

- 0 .6

- 0 .4

- 0 .4

- 0 .5

- 0 .4

4-88

1-89

2-89

3-89

0 .7

0 .4

0 .5

- 0 .1

0 .4

3-86




4-86

1-87

2-87

3-87

4-87

18 28
-8 -8

3-88

IN IT IA L

1 1 1 .9
- 0 .7

0
.0
0
.2
- 0 .1

0
.1
4-89

1 1 1 .7
1 1 1 .9

0 .7
0 .7

0
.1
0 .3

1

0 .7

0 .7

- 0 .1

1 1 2 .9

0

28
-6

1
.1
1 1 0
.2 .0 .6

1 1 3 .2
- 1 .1

1

4-89

4 .4

O

1 1
.0 .8
2
.1
18 1
-8 .8
28
-8
2
.0
1 2
.6 .0
1 1
.2 .6
1
.1
1
.0
0 1
.8 .1
0 0
.6 .8
3-87

1 0 9 .4

0 .7
- 0 .2

0
.1
2-90

- 1 .1
- 0 .2

0 .7

3-90

12
1.1
11
1.8
12
1.0

4-90

Q U AR TER

P R EP A R ED B Y F E D E R A L R E S E R VE BANK O F S T .
M AY 8 » 1991

10

L O U IS

PRO D U C TIVITY,

COMPENSATION,

AND

LA BO R

RATIO SCALE

COSTS

RATIO SCALE
SEASONALLY ADJUSTED

1982- 100

1982-100

SOURCEt
PERC EN T AG ES ARE ANNUAL R A TES OF CHANGE FOR PE R IO D S
L A T E ST DATA PLOTTED«

U .S .

DEPARTMENT OF LABOR

IN D IC A TED .

1ST OUARTER
PREPA RED BY FED ERAL R ESER V E BANK OF S T .

U N IT

L A B O R

C O S T S , B U S IN E S S

L O U IS

S E C T O R

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
T E R M IN A L
Q U A RTER

IN IT IA L

5-86

28
-6
6
.1

4-86

5 .3

1-87

4 .2

5 .5

2
.8

1 .7

0 .4

198 2*10 0

2
.2

2-87

Q U ARTER

4 .5

3-86

4-86

4-87

1 .5

1 .4

1 .7

4-88

4-87

18 28
-8 -8

5-88

4-88

1-89

2-89

3-89

4-89

1-90

2-90

5-90

4-90

2 .5

2 .9

2 .5

111.0

10
1 .6

- 1 .4
- 0 .2

1
.1

1 1 0 .9

12
1.1

1 .5

2 .7

4 .4

0 .5

1 1
.1 .1

1 .7

2 .4

2 .9

2 6
.2 .6

1 .9

2
.6

5 .0

2 .5

4 .9

5 .2

2 .5

5 .0

5 .4

5 .1

4 .9

4 .1

5 .0

- 2 .1

1 1 1 .5
1 1 5 .5
1 1 4 .2
1 1 5 .6

3 .0

2 .7

2 .5

2 .5

5 .1

5 .5

5 .5

4 .7

4 .0

4 .4

5 .9

2 .9

2 .7

2 .5

2 .5

5 .0

5 .5

5 .1

4 .2

5 .6

5 .8

5 .1

2 .4

5-89

2 .9

2 .7

2 .5

2 .5

5 .0

5 .2

5 .1

4 .0

5 .4

5 .5

5 .0

2 2
.6 .8

4-89

3 .0

2
.8

2 .7

2 .7

5 .1

5 .4

5 .2

4 .0

5 .6

5 .7

5 .4

5 .2

5 .6

4 .5

5 .2

5 .0

2 .9

2 .9

5 .4

5 .6

5 .5

4 .2

5 .9

4 .0

5 .8

5 .8

4 .2

5 .0

5 .5

2-90

5 .3

5 .1

5 .0

5 .1

5 .5

5 .7

5 .6

4 .5

4 .0

4 .1

5 .9

4 .0

4 .3

4 .9

5 .1

4 .7

5-90

3 .3

5 .1

5 .1

5 .1

5 .5

5 .7

5 .6

4 .2

5 .9

4 .0

5 .9

5 .9

4 .2

4 .6

4 .6

4 .2

5 .6

°

1-89
2-89

T
S
O

2 .7

5-87

1 1 0 .4

1 0
.6 .6
2 2
.8 .1
18 2
-8 .1
0
.8
28 2 2
-8 .6 .1
2
.0
2
.6
5-88

2-87

1 0 9 .2

2 .4

5-87

1-87

«

9
>

o

1-91

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

11
2.1
1 2 2 .5
1 2 3 .6

3 .4

5 .2

5 .2

5 .2

5 .6

5 .8

5 .7

4 .2

4 .0

4 .1

4 .0

4 .0

4 .3

4 .6

4 .6

4 .3

4 .1

4 .6

3 .4

5 .2

5 .2

5 .2

5 .5

5 .7

5 .7

4 .2

5 .9

4 .0

5 .9

5 .9

4 .1

4 .4

4 .5

4 .0

5 .8

5 .9

5 .2

5-86

4-86

1-87

2-87

5-87

4-87

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90

28
-6




18 28
-8 -8

5-88

IN IT IA L

1 2 5 .0
1 2 6 .0

Q U A R TE R

P R EPARED B Y FE D E R A L R E S E R V E BANK O F S T .
M AY 8 , 1991

11

L O U IS

G R O S S 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
(CompouDded Annual R ales o í Change)
TE R M IN A L
Q U AR TER

IN IT IA L
2 -8 6

3 -8 6

3-86

5 .0
6 .3

6
.6

6
.6
6
.8

7 .0

2 -8 7

3 -8 7

4 -8 7

1 -8 8

2 -8 8

3 -8 8

4 -8 8

1 -8 9

2 -8 9

3 -8 9

4 -8 9

1 -9 0

2 -9 0

3 -9 0

4 -9 0

4 .2

1-87

1 -8 7

5 .7

4-86

4 -8 6

B IL L IO N S O F
DOLLARS
ANNUAL R A TES

O üA R TER

2-87

4 ,2 5 3 .3

6 .9

4 ,2 9 7 .3
9 .1
8 .5

7 .1

7 .4

18
-8
28
-8

7 .2

7 .4

7 .3

7 .6

3-88

7 .3

7 .5

4-88

7 .4

7 .5

8
.0
8
.2
8
.1
8
.1
8
.0
8
.0

1-89

7 .4

7 .5

2-89

7 .2

3-89

7 .1

3-87
4-87

1-90

6
.8
6
.8

2-90

6 .7

4-89

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

4 ,4 7 1 .6
7 .4

4 ,5 5 1 .7

7 .9

8
.0
8
.0
8
.0

7 .8

7 .9

7 .8

7 .9

8
.0
8
.0

7 .9

7 .8

7 .8

7 .9

7 .7

7 .7

7 .5

7 .6

7 .5

7 .4

7 .7

7 .6

7 .6

7 .6

7 .4

7 .3

7 .1

7 .0

6 .7

5 .8

7 .2

7 .5

7 .5

7 .5

7 .3

7 .1

7 .0

6 .7

6 .5

6
.1

5 .5

5 .1

6 .9

7 .2

7 .0

6 .9

6 .9

6 .7

6 .5

5 .6

4 .9

4 .5

5 .9

6 .9

6 .9

6 .7

6 .5

5 .8

5 .4

5 .2

5 .3

6 .7

6 .7

6 .5

6 .4

5 .7

5 .5

5 .2

5 .2

5 .9

5 .1

7 .8
7 .8

8 .7
7 .8

8 .3

8
.1

8 .3

7 .8

7 .8

7 .4

7 .8

7 .8

7 .5

7 .7

7 .1

7 .0

6
.8

7 .0

6 6
.8 .8

3-90

6
.6

6 .7

6 .9

6 .7

4-90

6 .5

6 .4

6 .5

1-91

6 6
.1 .1
5-86

4-86

4 ,8 3 1 .4
4 ,9 1 7 .9
5 ,0 0 9 .8
5 ,1 0 1 .3
5 ,1 7 4 .0
5 ,2 3 8 .6

6 .4

6 .3

6 6
.2 .0
6
.1
6 6
.1 .0
6
.1
5 .9

5 .6

5 .5

5 .2

5 .3

5 .7

5 .2

5 .5

5 .9

5 .8

5 .5

5 .5

5 .0

4 .7

4 .5

4 .4

4 .5

3 .8

5 .1

0 .9

5 .7

5 .5

5 .3

5 .0

4 .8

4 .4

4 .2

4 .1

4 .1

3 .5

2 .9

1 .7

2 .5

3-87

4-87

4-88

1-89

2-89

3-89

4-89

1-90

2-90

5-90

4-90

6 .5

28
-6

4 ,7 3 5 .8

5 .9

6 .9

6 .5

4 ,6 4 7 .6

8 .3

6
.6
6 6
.2 .2
6 6
.1 .0

1-87

6 .7

2-87

6 .3

18 28
-8 -8

5-88

IN IT IA L

5 ,2 8 9 .3
5 ,3 7 5 .4
5 ,4 4 3 .3
5 ,5 1 4 .6
5 ,5 2 7 .3
5 ,5 6 1 .7 P

Q U ARTER

P R E L IM IN A R Y
PREPA RED
MAY

G R O S S

N A T IO N A L

P R O D U C T

IN

29,

BY

FED ERAL

RESERVE

BAN K

OF

ST .

L O U IS

1991

1982 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 t e s o f C h a n g e )
B IL L IO N S
T E R M IN A L
Q U A RT ER

1-87

28
-6
0
.8
1
.6
2
.8

2-87

5 .1

5-87
4-87

5-86
4-86

3-86

4-86

1-87

2-87

5-87

IN IT IA L Q U A RTER
ANNUAL R A T ES
4-87

18 28
-8 -8

OF

D O LLA RS
3-88

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90
5 ,7 1 2 .4

2 .3

5 ,7 5 3 .6

3 .7

5 .2

3 .9

4 .7

5 .5

3 .9

4 .5

4 .2

4 .1

5 .9

4 .5

5 .0

4 .9

5 .5

6
.6

3 ,7 8 1 .2
4 .2

3 ,8 2 0 .5
5 ,8 5 8 .9
5 ,9 2 0 .7

18
-8
28
-8

4 .0

4 .6

5 .0

5 .0

5 .5

5 .9

5 .1

4 .0

4 .4

4 .8

4 .7

4 .9

5 .1

4 .4

5-88

5 .8

4 .2

4 .5

4 .4

4 .4

4 .5

5 .8

5 .1

2 .7

4-88

5 .7

4 .1

4 .5

4 .1

4 .1

4 .1

5 .5

5 .0

2 .7

5 ,9 7 0 .2
5 .6

4 ,0 0 5 .8
4 ,0 3 2 .1
2 .7

4 ,0 5 9 .3

1-89

5 .7

4 .0

4 .2

4 .1

4 .1

4 .1

5 .6

5 .2

3 .0

3 .2

5 .6

4 ,0 9 5 .7

2-89

5 .5

3 .8

5 .9

5 .8

5 .8

5 .7

5 .2

2 .9

2 .7

2 .7

2 1
.6 .6

4 ,1 1 2 .2

5 .6

5 .5

5 .4

5 .0

2 .7

2 .5

2 .4

2 .5

5-89

5 .4

3 .6

5 .7

4-89

5 .2

5 .4

5 .4

1-90

5 .1

5 .2

5 .5

2-90

2 .9

5 .0

5 .1

2 .9

5 .0

4-90

2
.8
2
.6

2 .7

2 .7

1-91

2 .3

2 .4

2 .4

5-86

4-86

5-90

28
-6

2 2 1
.1 .0 .8
1
.8
2 2 2
.6 .2 .0
2 1
.0 .8
1
.6
2
.8
2 1
.0 .8
2
.8
2
.6
1
.2
1
.1
1
.6
2 2
.2 .1
5 .5

5 .2

5 .1

5 .2

5 .1

2 .5

5 .0

2 .9

2 .4

1 .9

2 .5

2 .5

1 .7

2 .5

2 .7

2 .7

2 .5

2 .7

1 .7

1 .9

2-87

5-87

1 .5

1 .3

1 .9

1-87

1 .7

4-87

1 .5

0 .9

18 28
-8 -8

1 .5

5-88

IN IT IA L

1 .7

4 ,1 2 9 .7

1 .7

1 1
.2 .0
1 1
.2 .0
1 1 0 1
.2 .0 .8 .1
1 1 1 1
.2 .1 .0 .2
0
.8
0
.1
0
.2

4 ,1 3 3 .2

0 .5

1 .5

4 ,1 5 0 .6

1 .7

4 ,1 5 5 .1

0 .4

0 .9

0 .7

0 .7

4-88

1-89

2-89

- 0 .1

5-89

4-89

4 ,1 7 0 .0
4 ,1 5 3 .4

- 0 .1

- 1 .6

- 0 .6

- 0 .9

- 2 .1

- 2 .6

1-90

2-90

5-90

4-90

0 .5

- 0 .1

0 .4

0 .5

1 .4

4 ,1 2 6 .5 P

Q U A R TE R

P - P R E L IM IN A R Y




PR EPARED B Y FE D E R A L R ESER VE BANK O F S T .
M AY 2 9 , 1991

12

L O U IS

GROSS N A T I O N A L P R O D U C T
RATIO SCALE
R I L L IONS OF

QUARTERLY TOTALS AT ANNUAL RATES
RATIO SCALE
DOLLARS
SEASONALLY ADJUSTED
T R I L L I O N S OF D O L L A R S
6 . 0

5.8
5.6
5.4
5.2
5.0
4.8
4.6
4.4
4.2
5.0
4.8
4.6
4.4

o

4.2

3.

4.0
3.8
3.6
3.4
3.2
3.0

1983

1984

1985

1986

1987

1988
SOURCE«

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S
LATEST OATA PLOTTED«




1989
U .S .

1990

1991

DEPARTMENT OF COMMERCE

INDICATED.

1ST QUARTER PR ELIM IN A RY
PREPARED

13

BY

FEDERAL

RESERVE

BA N K

OF

ST .

LO U IS

2 . 8

G E N E R A L

RATIO

P R I C E

I N D E X *

SCALE

RATIO

1982-100

1983

SCALE

1982-100

1984

1985

1986

1987

1988

1989

1990

1991

*AS USED IN NATIONAL INCOM ACCOUNTS
E
SOURCEt U.S. DEPARTMENT O COM ERCE
F
M
PERCENTAGES ARE ANNUAL RATES O CHANGE FOR PERIODS INDICATED.
F
LATEST DATA PLOTTEDt 1ST OUARTER PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK O ST. LOUIS
F

IM P L IC IT

P R IC E

D E F L A T O R

F O R

G R O S S

N A T IO N A L

P R O D U C T

(C o m p o u n d e d A n n u a l R a t e s o f C h a n g e )
T E R M IN A L
O U ARTER

IN IT IA L

28
-6

58
-6

5 .4

1-87

5 .4

4-86

1-87

2-87

3-87

4-87

O U ARTER

1982

18 28
-8 -8

5-88

4-88

1-89

2-89

3-89

4-89

*

1-90

100
2-90

3-90

4-90

5 .0

4-86

5-86

1 1 4 .6

2-87

5 .4

1
.8
2
.6
2
.8

5 .5

5 .1

5-87

5 .4

5 .0

5 .4

5 .5

4-87

5 .1

2 .7

5 .0

1 1 5 .1
5 .5

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

5 .5

5 .0

2 .7

2 .9

2 2
.8 .6
2 2 2
.8 .6 .2

5 .2

5 .0

5 .2

5 .1

5 .1

2 .9

5 .6

4 .4

5 .4

5 .2

5 .4

5 .4

3 .4

3 .4

4 .0

4 .6

4-88

5 .5

5 .5

5 .5

5 .5

5 .6

3 .6

4 .1

4 .6

4 .7

4 .7

1-89

5 .6

5 .4

5 .6

5 .6

3 .7

3 .7

4 .1

4 .4

4 .4

4 .5

3 .9

2-89

5 .6

5 .4

5 .6

5 .6

5 .7

3 .7

4 .1

4 .5

4 .5

4 .2

3 .9

3 .9

5-89

5 .6

5 .4

5 .6

5 .6

5 .6

3 .7

5 .9

4 .1

4 .1

5 .9

3 .7

3 .6

3 .2

4-89

5 .6

5 .5

5 .6

5 .6

5 .7

3 .7

5 .9

4 .1

4 .0

5 .9

3 .7

3 .7

3 .5

5 .8

18
-8
28
-8
58
-8

1 .7

1 1 8 .5
2 .7

1 1 9 .3

10
2.6
12
2 .0

4 .7

1 2 3 .4
1 2 4 .6
1 2 5 .8
1 2 6 .8
1 2 8 .0

1-90

5 .7

5 .6

5 .7

5 .7

5 .8

5 .8

4 .0

4 .2

4 .2

4 .1

3 .9

5 .9

3 .9

4 .3

4 .8

2-90

5 .7

5 .6

5 .8

5 .8

5 .8

5 .9

4 .1

4 .2

4 .2

4 .2

4 .1

4 .1

4 .1

4 .4

4 .7

4 .7

5-90

5 .7

5 .6

5 .8

5 .8

5 .8

5 .9

4 .1

4 .2

4 .2

4 .1

4 .0

4 .0

4 .0

4 .3

4 .4

4 .2

3 .7

4-90

5 .7

5 .6

5 .7

5 .7

5 .8

5 .8

5 .9

4 .1

4 .0

5 .9

3 .9

5 .8

3 .8

4 .0

4 .0

3 .7

3 .2

2
.8

1-91

5 .7

5 .7

5 .8

5 .8

5 .8

5 .9

4 .0

4 .2

4 .1

4 .1

4 .0

4 .0

4 .0

4 .2

4 .2

4 .1

3 .9

4 .0

5 .2

5-86

4-86

1-87

2-87

5-87

4-87

4-88

1-89

2-89

3-89

4-89

1 -90

2-90

5-90

4-90

28
-6

18 28
-8 -8

5-88

IN IT IA L

1 2 9 .5
1 3 1 .0
1 3 2 .2
1 3 3 .1
1 3 4 .8 P

Q U AR TER

P - P R E L IM IN A R Y




PR EPA RED B Y FE D E R A L R E S E R V E BANK O F S T .
M AY 2 9 , 1991

14

L O U IS

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)
TE R M IN A L

QUARTER

IN IT IA L

28
-6

5-86

4-86

1-87

2-87

3-87

4-87

18 28
-8 -8

B ILLIO N S OF
DOLLARS
ANNUAL RATES

Q U ARTER

3-88

4-88

1-89

2-89

3-89

4-89

1-90

2-90

3-90

4-90

2

5-86

9 .8

4-86

7 .9

6
.2

» 8 2 6 .0

2 *8 6 8 .5

1 -87

7 .7

6 .7

7 .3

2-87

8
.2

7 .7

8 .4

5-87

8 .3

8 8
.0 .6

9 .3

8 .9

4-87

7 .5

7 .1

7 .3

7 .4

6
.2

18
-8
28
-8

7 .8

7 .5

7 .7

7 .8

7 .2

6 .4

9 .2

7 .7

7 .4

7 .7

7 .7

7 .3

6 .7

8 .3

7 .4

5-88

7 .8

7 .5

7 .7

7 .8

7 .5

7 .1

8 .3

7 .8

2 ,9 1 9 .5
9 .6

2 .9 8 7 .2
5 ,0 5 1 .6
3 .7

3 .0 7 9 .1
3 .1 4 7 .7
3 .2 0 4 .3

7 .8

7 .6

7 .8

7 .9

7 .6

7 .3

8
.2

7 .9

1-89

7 .5

7 .3

7 .4

7 .5

7 .2

6 .9

7 .5

7 .1

7 .0

2-89

7 .5

7 .3

7 .4

7 .4

5-89

7 .4

7 .2

7 .3

7 .3

4-89

7 .2

7 .0

7 .0

7 .0

7 .1

7 .1

6
.8

6 .9

6 .9

5-90

7 .1

6 .9

7 .0

6 .9

4-90

6 .9

6 .7

6 .7

6 .7

1-91

6
.6

6 .5

6 .5

6 .4

28
-6

3-86

4-86

1-87

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

6
.8

7 .4

7 .0

6 .9

7 .1

6 .9

7 .3

7 .0

6 .9

6 .5

6 .9

6 .9

6 .7

6 .7

6 .7

6 .4

6 .7

6 .5

6 .3

3 —8 7

4-87

5 .5

5 .6

5 .8
6 .4

5 .9

5 .7

3 ,5 1 8 .5

4 .0

6 .4

5 .7

6 .4

5 .3

5 .5 8 8 .1
5 ,6 2 2 .7

5 .9

6 .7

6 .3

6 .3

5 ,6 9 3 .4

5 .7

18 28
-8 -8

3-88

5 .7

5 .5

5 .9

5 .1

5 .7

5 .5

3 ,7 2 4 .9

5 .4

5 .2

4 .9

5 .1

4 .4

4 .5

2 2
.8 .1

3 .7 4 4 .5 P

4-88

5 .6

5 .9

5 .3

6 .3

5 .8

2-87

3 ,4 8 4 .3

7 .0

6 .3

6 .5

3 ,4 2 5 .9

5 .7

6 .4

7 .0

6 .4

6 .5

IN IT IA L
P-

3 ,3 3 2 .6
3 ,3 7 1 .7

4 .8

o

7 .1

7 .0

o

7 .2

2-90

6 .4

3 ,2 6 8 .2

0
0

1

4-88

8
.2
8 8
.2 .1

1-89

2-89

3-89

4-89

1-90

2-90

5-90

4-90

Q U A RTER

P R E L IM IN A R Y
PREPA RED BY FED ERA L
M AY 2 9 , 1991

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

RESERVE

BANK

OF

ST .

L O U IS

1982 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 )
T E R M IN A L
Q U A RTER

IN IT IA L

28
-6

5-86

5 .8

4-86

1-87

2-87

5-87

4-87

18 28
-8 -8

ANNUAL
5-88

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

2 ,4 6 4 .4

2
.2

2 ,4 7 7 .8

1 -87

2 .7

1 .4

0 .7

2-87

5 .2

2 .5

2
.6

4 .5

5-87

5 .4

2 .9

3 .2

4 .4

4 .5

4-87

2
.8

2 .5

2 .5

2
.8

1 .9

18
-8
28
-8

5 .4

3 .0

5 .2

5 .8

5 .6

5 .2

6 .9

5 .5

5 .0

5 .1

5 .6

5 .4

5 .0

4 .8

2 .7

5-88

5 .5

5 .0

5 .2

5 .6

5 .4

5 .1

4 .5

5 .1

5 .5

4-88

5 .5

5 .1

5 .2

5 .6

5 .4

5 .2

4 .1

5 .2

5 .5

1-89

5 .0

2 .7

2
.8

5 .1

2 .9

2
.6

5 .2

2 .5

2-89
5-89

2 2
.8 .6
2 2
.8 .8
2 .7

5 .0

4-89

2 .7

2 .5

2 .5

1-90

2
.6

2 .4

2 .4

2-90

2 .4

2
.2

2 .5

5-90

2 .5

2 .5

2 .5

4-90

21
«

1 .9

1 .9

1-91

1 .9

1
.8

1 .7

28
-6

RATES

4-90

5 .4

4-86

5-86

B IL L IO N S O F
D O LLA RS

Q U ARTER

5-84

4-86

2 ,4 8 2 .2
2 ,5 0 9 .9
2 ,5 3 6 .6
- 0 .4

2 ,5 3 4 .2

2 .9

2 .7

2 .4

2 .9

5 .0

2 .9

2 .7

5 .1

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

2 .5

2
.6

2 .4

2 .5

2 .5

2 .4

2 .4

.1 *

2 .5

1 .4

1-87

2-87

5-87

4-87

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

2 1
.2 .6
2 2
.1 .0
1 .5

2 ,6 5 8 .8
- 0 .5
0 .5

2 ,6 3 6 .7
1 .5

2 ,6 4 5 .5

1
.8
2
.0
1 1
.6 .2
1
.8
1 0 1
.6 .1 .1
1
.2
1
.6
0
.2
0
.2
1
.0
1 0
.6 .8
1
.8
1 1
.2 .0
0
.1
0
.8
1 1
.1 .0
2 .5

2 .5

2 .5

2 .9

4 .6

1 .7

1 .9

1 .5

1 .5

1 .9

1 .9

1 .5

1 .4

1 .7

1 .7

1 .5

1 .5

- 0 .8

2 ,6 6 9 .9
2 ,6 7 7 .5

0 .7

1 .5

1 .5

1 .5

0 .7

0 .7

1 .4

2 ,6 7 5 .5

2 ,6 7 8 .8
2 .7

- 0 .2

- 0 .1

1 .5

- 0 .4

- 5 .4

2 .6 9 6 .8
2 * 6 7 5 .6

0 .7

18 28
-8 - 8

0 .4

0 .5

0 .4

- 0 .5

- 0 .1

- 0 .5

- 0 .7

- 2 .4

- 1 .5

5-88

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90

2 ,6 6 4 .9 P

IN IT IA L QUARTER
PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF ST . LO UIS
MAY 29* 1991

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
(Compounded A nnual Rates of Change)
BILLIO N S OF
T E R M IN A L
Q U A RTER

IN IT IA L

28
-6

3-86

4-86

1-87

2-87

3-87

Q U ARTER

18 28
-8 -8

4-87

3—8 6

- 2 .5
4 .0

9 .2

4 .9

8 .7

1 2 .9

4 .0

6
.6

8 .7

4 .2

4-87

8 .4

1 4 .3

1 2 .9

1 5 .6

6 8
.1 .2

9 .8

7 .8

7 .7

1 1 .5

6 .5

8 .4

9 .8

3-88

7 .0

8 .7

9 .9

4-88

5 .3

6
.6

7 .3

.2
8 8 1.8 1
.1 .2 0
1.2
0
8
.6
0
.8

1-89

5 .9

7 .1

2-89

5 .7

3-89

5 .2

4-89
1-90

3-89

4-89

1-90

2-90

3-90

6 4 7 .7

6 8 9 .5

0
.6

6 9 0 .6
7 4 1 .4
- 6 .4

7 2 9 .2
9 .5

8 .7

5 .9

5 .5

6 .5

7 .9

6 .7

6 .5

4 .4

1 0 .9

7 .5

7 4 6 .0
1 0 .9
0 .4

3 .0

5 .6

4 .3

1
.1

3 .1

5 .2

4 .1

1 .9

4 .2

3 .2

6 .3

6
.1

6 .9

6 .7

5 .6

5 .4

6 2
.0 .6

4 .3

5 .2

5 .5

4 .4

4 .1

4 .5

1 .4

3 .5

4 .2

4 .4

3 .4

3 .0

3 .2

0 .3

2-90

3 .7

4 .3

4 .6

3 .6

3 .3

3 .5

0 .9

3-90

3 .5

4 .1

4 .3

3 .4

3 .0

3 .2

0 .9

0 .4

0 .3

- 2 .0

- 1 .6

- 0 .5

- 1 .0

- 1 .1

- 3 .3

- 3 .1

1-87

2-87

3-87

4-87

18 28
-8 -8

1
.8
0
.8
0 0 0
.2 .6 .6
1 .9

1-91

28
-6

3-86

4-86

- 9 .1

7 6 9 .7

8
.0

3 .7

5 .1

1
.6

7 7 6 .7
- 0 .5

7 7 5 .8

- 0 .5

2
.0
0
.0
1
.0

- 0 .4

0 .9

- 0 .9

- 1 .8

- 2 .1

- 0 .5

3 .4

0 .4

- 2 .6

- 4 .0

- 3 .3

- 5 .4

- 6 .8

- 8 .1

- 8 .4

- 8 .6

- 1 5 .4

- 2 8 .6

- 4 .1

- 5 .5

- 5 .1

- 7 .1

- 8 .6

- 9 .8

- 1 0 .5

- 1 1 .1

- 1 6 .3

- 2 3 .6

- 1 8 .1

3-88

4-88

1-89

2-89

3-89

4-89

2-90

3-90

4-90

2
.6
1 0
.2 .1
1
.8
0
.8
1 .5

0 .9

1 .7

- 0 .3
- 1 .6

IN IT IA L
P-

7 4 7 .5
1 2 .4

1
*

7 .5

1 .4

7 6 5 .6

3 .4

- 1 .2

- 3 .6

- 6 .6

- 2 .9

- 5 .0

- 7 .2

- 7 .9

- 1 .1

- 2 .3

- 2 .9

- 1 .0

6 .5

7 6 2 .7
7 4 7 .2
7 5 9 .0

©

1 1 .4

6 4 8 .8
6 7 6 .7

6
.8
6
.2

4-90

RATES

4-90

3 2 .8

18
-8
28
-8

2-89

7 .8

3-87

1-89

1 8 .3

2-87

4-88

0 .7

1-87

ANNUAL
3-88

- 5 .7

<8
-6

D O LLA RS

7 5 9 .7
6 9 8 .3
6 6 4 .2 P

Q U A RTER

P R E L IM IN A R Y
PREPA RED BY FED ER A L
MAY 2 9 . 1991

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

RESERVE

BAN K

OF

ST .

L O U IS

1982 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 t e s o f C h a n g e )
B IL L IO N S
T E R M IN A L
Q U A RTER

58
-6

28
-6

IN IT IA L Q U ARTER
ANNUAL R A T E S
5-86

4-86

1-87

2-87

5-87

4-87

18 28
-8 -8

5-88

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90

- 1 0 .5

6 2 5 .1

4-86

- 8 .5

- 6 .2

1-87

0 .5

6 .4

6 1 5 .2

2 .6
0

6 4 4 .7

2-87

2
.6

7 .5

1 4 .8

5-87

2 .9

6 .5

1.1 6
1
.6

4-87

6
.6

18
-8
28
-8
58
-8
48
-8

9 .2

6 5 9 .1
4 .1

6 6 5 .7

1 0 .5

1 4 .9

1 5 .0

4 .9

7 .7

1 0 .7

8 .5

4 .8

7 .1

9 .5

7 .4

5 .4

7 .5

9 .7

7 .9

8 1.1
.0 0
8
.0
8
.6

5 .5

4 .9

6 .4

4 .5

5 .7

5 .6

1 4 .9

2 6 .9

7 .0

7 .7

7 0 6 .6

- 0 .4

7 .2

1 0 .5

- 0 .4

- 2 .5

- 1 4 .0

2 .7

2 .5

- 1 .7

1 2 .5

2 .4

2
.0

- 0 .7

6 .7

1
.2

2 .5

1 .9

- 0 .1

5 .0

1 .5

0 .4

- 1 .5

1 .9

- 1 .5

- 2 .8

- 7 .1

- 2 .1

0 .5

- 2 .5

- 5 .4

- 5 .9

- 4 .7

- 0 .5

- 1 .8

0 .4

- 1 .8

- 2 .6

- 4 .0

- 2 .4

- 0 .5

- 1 .8

0
.1

- 1 .9

- 2 .5

- 5 .5

- 2 .5

- 1 .1

- 2 .1

- 2 .9

- 4 .9

- 7 .4

- 8 .4

- 1 2 .5

- 2 1 .4

5 .6

7 .0

5 .5

4 .9

5 .1

5 .8

5 .2

6 .4

5 .0

4 .5

4 .5

1
.2
1
.2

5-89

5 .7

4 .9

6
.0

4 .7

4 .2

4 .2

1 .5

4-89

2 .9

4 .0

4 .8

1-90

2 .5

2-90

2
.2

5-90

1 .9

5 .4

- 0 .5

28
-6

5 .8

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

0 .5

1-91

5 .1

4 .1

2 0
.8 .2
2
.8
0
.2
2
.1
2 2
.6 .1
0
.1
5 .0

0 .9

2 .5

- 0 .4

1 .9

2 .5

1 .7

1 .5

7 2 5 .0

5 .1

4 .1

5 .5

7 0 5 .1

5 .9

- 1 .5

1-89

5 .5

6 9 8 .4

- 4 .6

2-89

4-90

OF

D O LLA RS

- 0 .5

- 0 .5

- 0 .1

- 0 .4

6 9 6 .2
7 1 7 .0
7 1 9 .1

1
.8

7 2 2 .5
7 0 9 .1
7 0 0 .7

0
.0

7 0 0 .7
6 9 7 .0

- 0 .1

- 0 .4

- 2 .4

- 2 .2

- 2 .8

- 5 .9

- 7 .4

0 .4

5-86

0 .5

- 4 .2

6 5 6 .5

- 0 .7

- 1 .4

- 1 .7

- 5 .7

- 5 .6

- 4 .2

- 5 .6

- 4 .6

- 6 .6

- 7 .6

- 9 .1

- 9 .5

- 1 0 .6

- 1 5 .9

- 1 9 .5

- 1 7 .2

4-86

1-87

2-87

5-87

4-87

18 28
-8 -8

5-88

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90

6 2 6 .IP

IN IT IA L QUARTER
P- PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
HAY 29. 1991

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 IN C U R R E N T D O L L A R S
(Compounded Annual Rates of Change)
TE R M IN A L
Q U A R TE R

IN IT IA L

28
-6

3-86

4-86

5-86

4 .6
5 .4

5 .6

4 .8

4 .6

5 .0

3-87

5 .4

5 .5

4-87

18 2
-8

3-88

- 38

4-88

1-89

2-89

3-89

4-89

1-90

2-90

3-90

4-90

7 .2

2-87

3-87

4 .0

1-87

2-87

5 .2

4-86

1-87

B IL L IO N S O F
DOLLARS
ANNUAL R A TES

Q U A RTER

8 8 0 .3
8 8 8 .9
9 0 4 .5

2
.8

9 1 0 .7

8
.1

5 .5

5 .6

6
.0
6
.0

5 .6

7 .0

5 .9

9 4 2 .0

18
-8
28
-8

4 .6

4 .5

4 .7

4 .0

4 .4

2 .7

- 0 .5

9 4 0 .9

4 .8

4 .8

4 .9

4 .5

4 .9

3 .9

2 .9

6 .3

3-88

4 .2

4 .1

4 .1

3 .6

3 .8

2 .7

1 .7

2 .8 0

4-88

5 .8

5 .8

6
.1

5 .9

6 .4

6 6
.1 .2

4-87

5 .4

1-89

5 .5

5 .6

5 .8

5 .6

2-89

5 .6

5 .6

5 .8

5 .6

6
.0
6
.0

3-89

5 .3

5 .3

5 .4

5 .2

4-89

5 .4

5 .4

5 .5

5 .3

1

0

5 .7

5 .7

5 .9

5 .8

2-90

5 .7

5 .8

5 .9

5 .8

3-90

5 .8

5 .8

5 .9

5 .8

4-90

6 6
.1 .1

1-91

5 .9

28
-6

5 .9

3-86

9 2 8 .5

8 .5

5 .7

5 .6

7 .2

5 .7

5 .6

6 .9

5 .5

5 .2

5 .1

5 .6

5 .3

5 .2

6
.0
6
.1
6
.1

5 .8

5 .8

5 .9

5 .9

5 .9

5 .9

6
.1
6
.1
6
.6
6
.6
6
.6

6
.2
6 6 6 6 6 6
.0 .0 .2 .1 .1 .6
6 .3

4-86

6 .4

1-87

2-87

6 .3

3-87

6 .3

4-87

7 .0

9 5 5 .4
9 5 3 .8

7

6 2 .8
0
1.8
1
0
60
60
6 8
.0
6
.1
66
6
.1
66
6
.1
1
6
.0
6
7

.0 0 0 .0
> 0 0 8 .5

3 .4

5

.0 2 2 .7

9 .7

4 .6

5 .8

7 .8

3 .7

3 .9

2
.0

7 .4

4 .3

4 .6

4 .1

7 .7

5 .7

7 .5

5 .8

7 .9

7

6 .4

7

5 .6

7

7

18 28
-8 -8

,0 2 7 .8

6
.2

6
.2
6
.2
6
.2

I .0 4 3 .3

8 .4

8 .4

7 .3

7 .7

1
1
1
1
1

1 0 .7

7 .7

.0 7 0 .1

6
.2
6 6
.2 .2

.0 8 6 .4

,. 1 0 2 . 8

3-88

4-88

6 .9

7 .1

8 8
.1 .6

7 .9

8 .7

1 1 .4

6 .4

7 .4

IN IT IA L
P-

1
1
1
1

9

6 .4

7 .2

7 .4

6
.6

6 .7

7 .0

2 .9

1-89

2-89

3-89

4-89

2-90

3-90

4-90

1-90

.► 1 3 2 .9

1
.► 4 0 . 9 P

Q U A RTER

P R E L IM IN A R Y
PREPA RED BY FED ERA L
M AY 2 9 , 1991

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

IN

RESERVE

BAN K

OF

ST .

L O U IS

1982 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 )
T E R M IN A L
Q U ARTER

IN IT IA L

3-86

28
-6
2
.1

4-86

3 .9

5 .8

1-87

2 .5

2
.8

B IL L IO N S O F
D O LLA RS
ANNUAL R A T ES

Q U A RTER

3-86

4-86

1-87

2-87

3-87

4-87

18 28
-8 -8

3-89

4-89

1-90

2-90

3-90

4-90

7 7 6 .0

0 .7

- 1 .7

1 .9

0 .7

4-87

2 .7

- 3 .2

7 6 9 .5

5 .5

2 .7

- 0 .4

5 .7

- 0 .4

0 .5

7 7 9 .8

6
.0

7 9 1 .3

0 .4

4-88

- 0 .4

- 1 .9

- 9 .2

0 .3

- 0 .2

- 3 .2

3 .3

- 0 .4

- 1 .1

- 3 .4

- 0 .3

1 .5

1-89

1 .5

2-89

1 .7

1 .7

1 .3

3-89

1 .4

1 .3

0 .9

4-89

1 .4

1 .5

1 .5

1 .7

1 .4

1 .5
1 .7

1-90

1 .4

1 .9

1 .7

3-90

1 .7

4-90

1 .9

1-91

1 .7

28
-6

2-89

7 7 5 .7

1
.1
2
.0
1
.1
2
.6
2
.0
18 0 0
-8 .8 .6
28 1 1 0
-8 .1 .0 .2
1
.2
0
.6
0
.2
2 2
.0 .0
1 2
.8 .6
1 1
.0 .1
2
.0
1
.0
1 1
.1 .2
1 1 1
.6 .6 .2
1
.8
1
.6
2
.1
1 1 1
.8 .8 .6
2
.1
2 2 1
.0 .0 .8
1 1 1
.8 .8 .6
2
.0
1 .9

1-89

- 0 .2

3-87

2-90

4-88

7 6 5 .2

2-87

3-88

3-88

3-86

4-86

1-87

2 .3

2-87

7 7 2 .4
7 7 8 .7
- 3 .8

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

7 7 1 .2

4 .8

1 5 .7

2 .5

5 .8

3 .0

1 .5

5 .5

2 .7

2 .9

5 .2

0 .3

3 .2

- 0 .6

0 .4

7 9 9 .9
- 3 .3

7 9 3 .2
4 .0

0
.8

8 0 1 .0
- 2 .4

7 9 6 .2

1 .3

0 .7

3 .2

0 .3

1 .5

0 .3

3 .0

1 .4

0 .9

2 .3

3 .1

0
.8

1 .9

1
.2

3 .0

2 .9

1 .9

1 .4

2 .7

3 .6

1 .7

2 .7

2 .4

4 .0

4 .5

1 .4

2 .5

2 .7

3 .4

2 .3

2 .9

1 .4

3-87

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

3 .3

1 .7

4-87

2 .4

18 28
-8 -8

3-88

IN IT IA L

2 .5

4-88

1-89

2-89

8 0 2 .2
8 0 7 .9

6
.2

8 2 0 .2

3 .3

3 .4

3 .7

1
.2

3 .6

3 .8

4 .0

3 .0

4 .7

2 .7

2 .7

2
.6

1 .4

1
.6

3-89

4-89

1-90

2-90

8 2 2 .7

3-90

8 3 2 .3
- 1 .5

8 2 9 .IP

4-90

Q U AR TER

P - P R E L IM IN A R Y




PR EPARED B Y FE D E R A L R ESER VE BANK OF S T .
M AY 2 9 , 1991

17

L O U IS

D IS P O S A B L E 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
(Compounded A nnual Rates of Change)
IN IT IA L

t e r m in a l

Q U AR TER

28
-6

5-86

4-86

1-87

2-87

5-87

18 28
-8 -8

4-87

5—8 6

5 .8

6
.0

7 .8

4 .0

4 .5

4 .1

5 .4

6
.2

6 .5

4 .6

6 .5

7 .5

7 .8

7 .0

1.6
1

7 .7

7 .6

1 0 .9

1 0 .7

7 .6

9 .6

8 .5

5-88

7 .5

7 .9

8 .5

7 .9

1.0
0
1.0
0

9 .6

8 .9

7 .2

7 .8

8
.1

7 .8

9 .4

9 .1

8 .4

8 .5

2-90

5-90

4-90

9 .7

4-88

1-90

9 .6

7 .0

8
.2
8
.0

4-89

1 1 .9

6 .9

5-89

1 1 .4

4-87

2-89

- 1 .8

5-87

1-89

1 0 .4

2-87

4-88

5 .5

1-87

5-88

2 .4

4-86

B IL L IO N S O F
DO LLARS
ANNUAL R A TES

Q U A RTER

18
-8
28
-8

5 * 0 2 4 .3
5 * 0 6 5 .4
5 * 1 5 9 .8

7 .6

5 * 1 2 5 .7
5 * 2 1 1 .1
5 * 5 0 2 .5
5 * 5 7 8 .6
7 .4

1-89

7 .4

8
.0

8 .5

8
.0

9 .5

9 .1

8
.6

2-89

7 .1

7 .6

7 .8

7 .5

8
.8

8 .4

7 .8

5 * 4 3 9 .4

7 .5

3 * 5 2 0 .1
6 .9

3 * 5 7 8 .9

7 .5

8
.2
6
.8

8 .7

9 .6
6 .7

3 * 6 6 1 .7
5 .9

3-89

7 .0

7 .4

7 .6

7 .5

8 .5

8
.0

7 .4

7 .1

7 .0

6 .5

4 .5

5 .1

4-89

6 .9

7 .5

7 .4

7 .2

8
.1

7 .8

7 .5

6 .9

6 .9

6 .5

5 .1

5 .6

6
.1

1-90

7 .1

7 .4

7 .6

7 .4

8 .5

7 .9

7 .5

7 .5

7 .5

6 .9

7 .9

9 .6

2-90

6 .9

7 .2

7 .5

7 .1

7 .9

7 .6

7 .2

6 .9

5 .7

6
.2

6 .5

6 .7

7 .2

6 .9

7 .6

7 .5

6 .9

6 .7

5 .5

5 .8

6 6
.0 .0

4 .2

4 .5

6 .9

6 .7

7 .5

6
.6

6 .4

6 .9

1-87

2-87

4-90

6
.8
6 6
.6 .8

1-91

6 .5

7 .0

5-90

28
-6

6 .5

5-86

4-86

6
.6
6 6
.6 .2
7 .0

5-87

6
.8
6 6 6
.6 .2 .1
6
.2

5 * 7 4 5 .4
5 * 7 9 9 .6
5 * 8 8 7 .7
4 .0

5 * 9 2 5 .7
5 * 9 6 9 .1

5 .9

6 .4

5 .8

5 .7

5 .2

5 .4

5 .5

5 .5

5 .9

5 .9

5 .5

5 .4

5 .5

4 .8

4 .9

4 .8

4 .6

5 .4

5 .2

2 .5

4-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

5-88

IN IT IA L
P-

6 .4

6 .4

18 28
-8 -8

4-87

6
.2
6
.2
6 6 6
.8 .8 .2

5 * 6 9 7 .5

4 * 0 0 1 .9

1
.6

4 * 0 1 8 .2 P

4-90

Q U A RTER

P R E L IM IN A R Y
PREPA RED BY FED ERA L
MAY 2 9 » 1991

D IS P O S A B L E

P E R S O N A L

IN C O M E

IN

RESERVE

BAN K

OF

ST .

L O U IS

1982 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 t e s o f C h a n g e )
T E R M IN A L
Q U A RTER

IN IT IA L

28
-6

5-86
4-86

5-86

- 0 .2

4-86

1-87

2-87

5-87

1-87
2-87

4-88

5-88

1-89

2-89

5-89

4-89

1-90

2-90

5-90

4-90

2 * 6 3 7 .5
1 .4

1
.1
- 0 .8

18 28
-8 -8

4-87

- 1 .7

B IL L IO N S O F
D O LLA RS
ANNUAL R A T ES

Q U ARTER

2 * 6 4 6 .2

2 .5
- 0 .6

- 1 .5

2 * 6 6 9 .5

5 .6
- 6 .5

2 * 6 2 6 .5

5-87

0 1 1 0
.6 .2 .2 .0

6 .7

4-87

1 .7

2 * 6 6 9 .2

2 .4

2 .7

2 .4

7 .1

2 .5

5 .2

5 .6

5 .6

7 .1

7 .4

7 .5

2 .5

5 .2

5 .5

5 .4

6
.0

5 .8

5 .0

2 .7

5 .4

5 .7

5 .7

5 .8

5 .6

4 .9

5 .8

4 .9

5 .2

3 .5

5 .5

5 .2

4 .9

4 .5

5 .5

5 .6

2 .5

4 .8

4 .5

5 .5

5 .8

5 .5

18
-8
28
-8
58 2
-8 .8
4-88

2 .7

2 ,7 1 7 .9

7 .5
2 * 7 6 5 .9

2 * 7 8 4 .4
2 * 8 1 8 .0
2 * 8 3 3 .9

1-89

2 .9

5 .5

3 .6

5 .6

5 .1

2-89

2 .5

2 .9

3 .1

5 .0

4 .5

5 .9

5 .5

2 .9

5 .0

4 .1

5 .8

5 .2

5 .8

5 .5

5 .0

2 .4

2 .4

1 .7

0 .9

5 .7

5 .4

2 .9

2 .4

2 .4

1 .9

1 .5

5 .4

5 .1

3-89

2 .5

4-89

2 .5

1-90

2 .5

2-90

2 .3

5-90
4-90
1-91

2
.8
2
.8
2
.6

5 .1
2 .9
2 .9
2 .7

2
.8
2
.8
2
.6

2
.1
1 2 2 2
.8 .0 .1 .0
1 1 1
.6 .8 .8
2 .4

2 .5

2 .4

5-86

4-86

2 .5

2-87

1 .7

1 .5

1 .7

1 .4

4-87

2 * 8 7 4 .3

2 1
.0 .2
2
.2
1 .9

1 .7

1 .5

0 .5
- 0 .2

- 0 .7

- 0 .1

- 0 .4

- 1 .5

- 2 .1

- 5 .5

- 0 .5

- 0 .7

- 1 .4

- 2 .0

- 2 .6

- 1 .8

5-89

4-89

1-90

2-90

5-90

4-90

0 .9

0 .7

0 .4

0
.1

18 28
-8 -8

4-88

5-88

IN IT IA L

- 0 .1

1-89

2-89

2 * 9 0 0 .9

1 .4

1 0
.2 .8

0 .4

2 * 8 8 3 .2
2 .5

0 .7

1 .5

1 .5

l . l

5-87

2 .7

1 .4

1 .9

1 .9

2 * 8 5 4 .9

- 1 .2

1 .9

2 .7

2 .5

1-87

2 .5

2 .4

5 .1

1 .7

28
-6

2 * 8 6 3 .5

4 .2

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

2 * 9 0 2 .8
2 * 8 9 8 .0
2 * 8 7 2 .4
2 * 8 5 9 .6 P

Q U A R TE R

P - P R E L IM IN A R Y




PR EPARED B Y FE D E R A L R ES ER VE BANK O F S T .
M AY 2 9 . 1991

18

L O U IS

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 t e s o f C h a n g e )
T E R M IN A L
Q U A RTER

IN IT IA L

28
6

3-86

1 8 .4

4-86

1-87

2-87

3-87

4-87

28
-8

1-88

3-88

4-88

1-89

2-89

3-89

4-89

1-90

2-90

3-90

4-90

18. C

4-86

5-86

B IL L IO N S O F
D O LLA RS
ANNUAL R A T ES

Q U A RTER

1 1 5 .9

11
2 .0

1 8 .8

1-87

2 9 .3

3 5 .3

5 4 .0

2-87

3 1 .6

3 6 .4

4 6 .2

3 8 .7

3-87

3 0 .4

3 3 .7

3 9 .1

3 2 .2

2 6 .0

4-87

2 6 .2

2 7 .9

3 0 .2

2 3 .2

1 6 .0

18
-8
28
-8

2 8 .1

2 9 .9

3 2 .2

2 7 .3

2 3 .7

2 6 .8

2 8 .2

2 9 .8

2 5 .4

2 2 .3

2 .6
2
2 .1
1

3-88

2 4 .6

2 5 .5

2 6 .5

2 2 .4

1 9 .3

1 7 .7

1 3 4 .8
1 4 6 .3
1 5 5 .0
6 .9

1 5 7 .6
1 7 1 .6

4 0 .6
2 8 .9

4-88

2 3 .7

2 4 .3

2 5 .0

2 1 .3

1 8 .7

1 7 .2

2 .6
1
2 .0
0

1-89

2 0 .7

2 .0
1

2 1 .3

1 7 .7

1 5 .0

1 3 .2

1 4 .5

2-89
3-89
4-89
1-90
2-90
3-90
4-90
1-91

1 .0
2
.1
1.6 1 .2 1 .6 8
2 2 1
1.2 1 .8 1.2
2 1 1
1 .0
1
1.6 1.1
0 0
6
.6
1.1
1
1 .0 1 .6 1.1
1 0 0
8
.0
1 6 .1

9 .0

1 5 .6

1 5 .9

6
.8

1 7 8 .9

1 8 .1
8 .3

1 3 .8

1 1 .7

1 5 .3

5 .9

4 .7

- 5 .0

- 2 .9

- 6 .3

- 1 5 .5

- 2 4 .9

8
.8
1
.0

6 .7

1 8 2 .5

1 3 .1

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

5 .1

2 .7

2
.2

- 3 .1

- 6 .9

- 1 0 .4

- 1 7 .6

- 2 3 .2

- 2 1 .5

7 .9

5 .3

3 .2

2 .7

- 1 .8

- 4 .8

- 7 .2

- 1 2 .1

- 1 4 .3

- 8 .4

6
.8

7 .4

5 .0

3 .1

- 1 .3

- 3 .8

- 5 .7

- 9 .4

- 1 0 .5

- 5 .1

4 .3

- 1 .4

- 3 .6

- 4 .4

2
.0

4 .3

2 .5

2
.6
2
.1

1 1 .9

1 1 .5

8 .5

6 .5

5 .0

4 .8

7 .6

5 .7

4 .3

9 .0

8 .5

5 .6

3 .7

2 .3

1-87

2-87

3-87

4-87

1 0 .4

1 1 .5

9 .5

28
-6

3-86

4-86

- 5 .2

- 8 .3

- 8 .9

1 0
.8 .1

- 0 .9

- 3 .0

- 2 .6

4 .1

1 .3

- 0 .3

- 1 .2

- 3 .1

- 2 .8

1 .5

1 .9

- 0 .8

- 2 .3

- 3 .3

- 5 .2

- 5 .3

- 2 .1

3-88

4-88

1-89

1 6 3 .6

2-89

18 28
-8 -8

2
.6

1 6 6 .3
1 6 7 .1

1 .9
- 0 .2

1 .6
0
6 6
.8 .8
1 0
.6 .6

9 .7

3-89

4-89

- 2 .4

1 6 6 .1

1 5 .3
8 .5

1 7 9 .4

3 6 .1
1 4 .3

1-90

2-90

1 7 7 .6

- 4 .0

1
.2

0 .3

- 1 2 .7

- 2 0 .7

3-90

1 6 7 .6P

4-90

INITIAL Q AR
U TER
P- PRELIMINARY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS
HAY 29. 1991

H IS T O R IC A L

N A T IO N A L

E s t im
o f

N IP A

C u r r e n t
th e

a t e s

t a b le s

f o r
f o r

1 9 8 6 ,

s e r ie s

1 9 8 7 - 9 0 :1 1

B u s in e s s .

J u l y

th e

IN C O M E

D a ta

J u l y

f o r

1 9 8 7 ,

B u s in e s s ,

r e s p e c t iv e ly .

p u b lis h e d

in

S t a t e s .

W e a lth

D e p a rtm e n t




J u l y
E s t im

N a t io n a l

f u r t h e r

in f o r m

D iv is io n
o f

a t io n

PRO D UC T

th e

O F

A C C O U N TS

r e g u la r

p u b lis h e d
1 9 8 4 ,

1988
a t e s

In c o m e

(B E - 5 4 ),

C o m m e rce ,

in
a r e

1 9 8 3 ,

1 9 2 9 - 8 2 : _____ S t a t i s t i c a l

F o r
a n d

T h e

AN D

SO U R C ES

f o r

a n d

q u a r t e r ly

in

th e

198 5

a n d

J u l y

a n d

198 9

N IP A

P r o d u c t

D A T A

1 9 8 6

s e r ie s

p r e s e n t a t io n

J u l y

1 9 9 0

a r e

S u r v e y
f o r

A c c o u n ts

S u r v e y

p u b lis h e d
o f

th e

in

C u r r e n t

1 9 2 9 - 8 2
o f

o f

a r e

U n it e d

T a b le s .

a n d

p r ic e s ,

B u re a u

W a s h in g to n ,

o f

D . C .

19

w r it e

E c o n o m ic
2 0 2 3 0 .

t o

th e

N a t io n a l

A n a ly s is ,

U . S .

In c o m e

INVENTORIES C O M P A R E D WITH M O N T H L Y SALES ♦
.72

MANUFACTURING AND TRADE
SEASONALLY ADJUSTED

1.72

.6 8

1.68

1.64

1.64

1.60

.60

.56

1.56

1.52

1.52

1.48

1.48

1.44 I 1 1 ! 1 1 ! i — i — i — i I i | i I i | — | i | i I i | — | i | i | i | 1 ‘I- | i | 1.44
1 ! 1 1 ! 1— — — — — — — — — — — — — — — — — — — — — — — — — 1 1-jJi — —
‘—
■
1982
1983
1984
1985
1986
1987
1988
1989
1990
1991
SOURCE: U.S. DEPARTMENT OF COMMERCE
♦REVISED FROM 1982
SHADED AREAS REPR ESEN T PERIODS OF BUSINESS RECESSIONS.
LATEST DATA PLOTTED: MARCH PRELIMINARY




20

P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F S T . L O U IS

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