Full text of National Economic Trends : March 1974
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n A T i o n A L Economic t r e i i d s PREPARED MONTH ENDING: BY February 28, 1974 FEDERAL RESERVE BANK OF ST. LOUIS RELEASED: March 22 , 1974 Consumer prices have continued to rise at extraordinarily rapid rates. From September to February, consumer prices increased at an 11.3 percent annual rate. By comparison, consumer prices rose 7.4 percent in the previous year, an increase already high by histor ical standards. Wholesale prices have advanced at a 20.8 percent annual rate since early last fall, compared to a 16.6 percent increase in the year ending September 1973. Aside from prices, the pace of the upward movement of the economy has moderated in recent months, primarily reflecting the effect of the energy situation on particular sectors. The extent of slowing appears to be less than previously expected by many economic analysts, though the slowdown in production is unmistakable. The slowdown in real economic activity has been concentrated in the retail trade and transportation equipment industries. Total employment increased at a 1.9 percent annual rate from September to February, compared to a 3.5 percent advance in the previous year. Payroll employment slowed to a 2.3 percent annual rate of rise from September to February after increasing 3.7 percent in the previous year. With growth in the labor force exceeding employment increases, unemployment rose to 5.2 percent in February, compared to 4.7 percent last September. Industrial production declined at a 3.7 percent annual rate from September to February, in contrast to a 7.8 percent advance in the previous year. The recent decline in production has been due mainly to reduced automobile production and to cutbacks in electricity and gas consumption. Personal income grew at an 8.1 percent annual rate from September to February, compared to an 11.3 percent increase in the previous year. The slowing in personal income growth was in the form of moderated advances in wages and salary income, as well as a decline in farm income in recent months. TOTAL CIVILIAN EMPLOYMENT C O M P Q U N O E O AN N U A L R A T E S OF C H A N G E TERMINAL MONTH INITIAL 7-7* 8-72 9-72 10-72 li-72 12-72 1-73 2-73 8-7 ? _ A .5 . 9-72 3.5 10-72 2.3 1.9 1. 2 U.?7?_ 2.6 2.0 1. 7 12-7? 3.1 ? .3 2.9 3.7 5.3 1-71 2.1 1.6 1.3 1.4 1.0 7-73 3. I 2.8 2.9 3.3 3.7 2.9 9.2 3-7 3 _ A * 7... 3. fc 3.7 4 . 3 ___ 4 . 8 . 4.6 8*7 8.3 4-73 3.4 3.3 3.4 3.7 4.0 3.7 6.1 4.6 3-73 THOUSANOS OF P E R S O N S MONTH 4-73 5-73 6-73 8-73 9-73 10-73 11-73 12-73 1-74 2.6 82,256 82,338 82,486 2.2 82,841 82,619 -3.2 83,230 ____ 3.0 3.1 3*4 3,6 3.2 4.9 3.5 1.2 1,4 3.7 3.6 3.7 4.0 4.3 4.1 5 . 6 _ __ 4 . 7 3.6 4.8 8.4 7-73 3.5 3.4 3.5 3.7 3.9 3.7 4.9 4.1 3.0 3.7 4,9 1.5 _3.?_ ______ 8 3 * 9 5 0 ___ 8 4 , 5 1 8 ______ 84,621 8-7 3 3.1 _ 3 . 0 ... 3.2 3.3 3.0 4.0 3.1 2.X 2.4 2.7 -0.0 -1.5 ....9.-73 3.5 3.4 3.5 3.7 3 . 9 __ 3 , 7 4.6 4.0 3.3 3.7 4.3 2.9 3,7 9.2 10-73 3.8 3.7 3.8 4.0 4.2 4.1 4.9 4.4 3.9 4,3 4.9 4.1 4,9 8,3 7.5 3.5 3.5 3.5 3.7 3.8 3.7 4.4 3 . 9 .... 3 . 4 3.7 4.1 3.2 3.7 5.5 3.7 0.0 3.3 3.3 3.3 3.5 3.6 3.4 4.0 3.5 3.0 3.3 3.5 2.7 3.0 4.2 2.5 0.1 i-74 3. 3 .3.2 3.2 3.4 3.4 _ 3.3 3.9 3.4 2.9 3.1 3.3 2.6 2.8 3.7 2.4 0.8 l.l 2.0 2-74 3.1 3.0 3.0. 3.1 3.2 3.1 3.6 ^.JL 2.6 ?«8 3 tO 2.3 2.4 3.1 1.9 0.5 0.7 0.9 -Q.l 7-72 8-72 f p 7 2 ~ 12-72 1-73 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 I .!— 7.3 _12-73 _ „ 9-72 10-72 8 3 , 7 8 2 _____ 83,854 1.0 6-7 3 5-73 7-73 82,083 INITIAL 84,513 85,133 85,649 . — . 0.3 _85î 649 ______ 8 5 * 6 6 9 __________ 85,811 __8 5 , 8 0 3 MONTH PAYROLL EMPLOYMENT C O M P O U N D E D A N N U A L R A T F ^ OF C H A N G E THOUSANDS T E R M I N A » ___________________________________________ ______________________IN I T I A L M O N T H ............... ,.............................. ... .... ......... MONTH ~~ " .... . ~ OF P E R S O N S ____________7-72 8-7 ? 9 - 7 2 1 0 - 7 2 1 1 - 7 2 12- 7 2 1-73 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9- 7 3 10-73 H - 7 3 12-73 1 - 7 4 ________________ 8-72 5 . 4 ___________ ;_______________________________________________________________________ ___ _________________________________________________________ ___ ___________ 7 3 , 0 1 6 . _ 9-72 4.8 4. 2 11-72 '♦.8 4.£ 4.7 4.? 12-72 4.4 4.1 4.1 3 • t> 2.7 1 — 73 4.3 4.1 4.1 3. 7 3.4 4.1 2-73 4.3 4.7 4.9 4.7 4.9 5.9 _______ ______ _________________________________________________________________________________ 7 3 , 2 6 8 73,835 74,002 74,252 74,715 7.7 7 4 , 9 1 4 _____ 3-7 3 4.6 4.5 4.5 _ _ 4 . 4 4.4 5.0 5.5 .3.? 4-73 4.4 4.3 4.3 4.2 4.2 4.5 4.7 3.2 3.1 5-7 3 4.4 4.2 4.2 4. 1 4.1 4.3 4.4 3.3 3,3 3.5 3. 3 3.3 3.4 75,105 „75,321 4.0 4.2 3.4 3.4 3.4 3.3 2.5 2.3 2.0 1.3 -0.8 3.5 3.5 3.6 3.5 2.8 2.7 2.6 2.3 1.8 4.4 3.7 3.5 3.5 3.5 3.5 2.9 2.8 2.8 2.6 2.3 3.9 3.4 3.9 3.9 3.8 3.7 3.8 3.8 3.3 3.4 4.8 5.0 6.5 4.0 4.0 3*9 3.9 4.0 3.9 3 . 5 __ 3 . 6 , __ 3 . 6 3.6 3.7 4.8 5.0 5.8 5.1 3.1 3.0 2.9 3.7 3.5 3.5 2 .1 -0.8 2.8 2.5 2.2 0.8 -1.2 -1.6 2.5 2.3 1.3 0.1 0.5 2.8 8-73 9-73 10-73 11-73 12-73 1-74 6-73 4.3 4.1 7-73 3.» 8-7 3 3.9 9-73 4. 1 4.0 3.7 3.6 3.7 3.7 3.8 3.7 10-73 4.0 11-73 4.1 4.2 _ 3.4 _ -3.4 _ 12-73 3.8 3.7 3.7 3.5 3.5 3.5 3.5 3.1 3.1 1-74 3.5 3.4 3.3 3.? 3.1 3.1 3.1 2.6 2.6 2.5 2.4 2-74 3.4 3.3 3.3 3.2 .3.1 3.1. 3.0 2.7 2.6 2.5 2,4 7-72 8-72 9-72 10-72 11-72 1-73 2-73 3-73 4-73 12-72 INITIAL P- 75,526 3.3 5-73 2.3 . 2.3 6-73 75,478 __ 2, 8 _ 7-73 75,747 75,961 76,363 1M O N T H PRELIMINARY M A R C H 8, 2 1 97 4 76,679 7 6 , 6 2 6 ...... 76,520P 76,695P EMPLOYMENT RATIO RATIO SCALE MILLIONS OF SEASONALLY ADJUSTED PERSONS MI LLI ONS SOURCE I PER C E N TA G ES ARE LATEST PLO TTEO i DATA ANNUAL R AT ES FEBRU ARY OF CHANCE FOR PE R IO D S SCALE PERSONS U . S . DEI IN D IC A T E D . P R E L IM IN A R Y PR E P A R E D UNEMPLOYMENT SEASONALLY PERCENT OF BY FE D E R A L R ES ER V E BANK OF S T . L O U IS RATES* ADJUSTED PERCENT 7.0 6. 6.0 5. 5.0 4. 4.0 3. 3.0 2. 2.0 . 1.0 1 0.0 0. 1966 19 6 7 19 6 8 19 6 9 19 70 1971 19 7 2 SOURCE: xPER C EN T LATEST OF C IV ILIA N LABOR FORCE DATA PLO TTE D * FEBRUARY U .S . 1973 19 7 4 D EPA R TM EN T OF LABO R IN CROUP PR E P A R E D 3 BY FE D E R A L R ES ER V E BANK OF S T . L O U IS CONSUMER PRICE COMPQUNOED INÖEX, ANNUAL SEASONALLY ADJUSTED R A T E S OF C H A N G E T E R M I N A L ____________________ ___________________________________________________ I N I T I A L M O N T H _________________________________________________________________________ 1 9 6 7 MÜÑ tH 7-72 89-72 10-72 11-72 12-72 1-74 8-73 1-73 2-73 3-73 4-73 5-73 9-73 10-73 11-73 12-73 6-73 7-73 - 100 8-72 3.3 125.66 9-72 4.2 126.19 10-72 4*2 11-72 4.0 3.8 3.6 12-72 3.7 3.4 3.0 2.5 1-73 4.1 4.0 4.0 4.3 6.1 2-73 4.7 4.9 5.2 5.7 7.3 3-73 5.5 5.9 6*3 7.0 4-73 5.8 6.2 6.6 7.2 5-73 5.9 6.3 6.7 7.2 6-73 6.0 6.4 6.7 7.2 7-73 5.7 6.0 6.3 6.6 7.2 8-73 7.2 7.7 8.1 8.6 9.4 126.61 4.1 126.98 127.24 127.87 128.75 8.6 8.4 129.88 9.8 ll*i 9.2 9.4 7.8 8.7 8.7 7.6 7.3 8.3 8.3 7.4 7.1 7.0 7.4 7.2 6.2 5.7 4.8 2.8 9.8 10.0 9.8 10.3 11.4 13.7 130.70 131.47 \+ 9 .6 % 132.21 132.51 135.06 25.7 9-73 6.9 7.4 7.7 8.1 8.7 9.1 9.1 8.8 9.0 9.5 10.3 14.3 3.9 10-73 7,1 7.6 7.9 8.3 8.9 9.2 9.3 9.0 9.2 9.6 10.3 13.0 7.1 10.4 11-73 7.3 7.8 8.0 8.4 9.3 9.4 9.1 9.3 9.7 10.2 12.2 8. C 10.1 12-73 7.3 7.7 8.0 8,3 9.0 9.1 8.9 9.0 9.2 9.6 11.1 7.7 9.0 8.3 6.7 1-74 7.6 8. a 8.3 8.6 9.1 9.4 9.5 9.3 9.5 9.7 10.2 11.4 8.8 10.0 9.9 10.0 13.3 2-74 8.1 8.9 8.8 9.2 9.TÌ 9.9 10.0 9.9 10.2 10.5 10.9 12.1 10.0 11.3 11.5 12.1 14.9 9-72 Ì0-72 11-72 1-73 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10— 73 U-73 12-73 7-7¿ 8 - 12-72 INITIAL 135.49 136.61 137.68 9.8 138.43 PRICES - INDUSTRIAL COMMODITIES, SEASONALLY C O M P O U N D E D A N N U A L R A T E S OF C H A N G E TERMINAL MONTH INITIAL 7-72 8-72 9-72 10-72 11-72 8-72 4.1 9-72 3.8 3.4 10-72 2.7 2.0 0.6 11-72 3.2 2,9 2.7 4.8 12-72 3.0 2.7 2. '♦ 3.4 1.9 12-72 1-73 2-73 3-73 16.5^1 141.67 1-74 NONTH PREPARED BY FEDERAL. RESERVE M A R C H 21, 1974 WHOLESALE 139.88 4-73 BANK OF ST. ADJUSTED MONTH 5-73 LOUIS 1967 6-73 7-73 8-73 9-73 10-73 11-73 12-73 * 100 1-74 118.54 118.87 118,93 119.40 119.59 1-73 3.1 2.9 2.7 3.4 2.7 3é 6 2-73 4.3 4.3 4.5 5.5 5.8 7.8 3-73 5.6 5.8 6.3 7.4 8.1 10.2 13.7 15.2 4-73 6.8 7.2 7.7 9.0 S.8 U.9 14.8 16.1 17.0 5-73 7.7 8.1 8.7 9.9 1C.7 12.6 14.9 15.9 16.2 15.5 6-73 8.1 8.5 9.1 10.2 11.0 12.5 14.4 15.0 14.9 13.9 12.4 7-73 7.4 7.8 8.2 9.1 9.6 10.8 12.0 12.0 11.2 9.3 6.4 8-73 7.2 7.5 7.9 8.6 9.1 10. C 11.0 10.8 9.9 8.2 5.9 2.7 4.8 7.9 9.8 9.6 4.5 6.5 8.2 1 119.94 .X 1 2 .1 121.09 122.53 124.14 125.64 \+ 1 7 .1 % 126.87 0.7 126.94 127.44 9-73 7.3 7.6 8.6 9.C 10.6 10.4 8.2 6.4 10-73 7.8 8.0 8.4 9.1 9.5 1C.3 U . 0 10.9 10.3 9.2 8.0 6.9 9.1 11.3 14.5 11-73 9.8 10.2 10.7 11.5 12.1 13.1 14.1 14.3 14.1 13.8 13.5 13.7 17.2 21.6 28.9 45.1 12-73 11.2 11.7 12.2 13.1 13.8 14.8 15.9 16.3 16.4 16.3 16.5 17.2 20.8 25.1 31.3 40.6 36.2 1-74 12.2 12.7 13.3 14.2 14. 9 16 . C 17.1 17.5 17.8 17.9 18.2 19.0 22.4 26.2 31.2 37.3 33.5 30.8 \ 2-74 12.5 12.9 13.5 14.4 15.0 16.C r ú a 17.5 17.7 17.8 18.0 18.7 21.6 24.6 28.2 31.8 27.7 23.6 7-72 8-72 9-72 10-72 11-72 2-73 3-73 4-73 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 12-72 1-73 INITIAL \ 133.83 137.32 140.43 16.8 1 142.26 1-74 MONTH PREPARED 4 128.28 129.74 BY F E D E R A L RESERVE BANK OF ST. LOUIS RATIO PR I CES SCALE PE RCENT AGES ARE ANNUAL RAT ES OF CHANCE FOR P ERI OD S LATES T DAT A P L O T T E D « RATIO INO I C A T E D . FEBRUARY PREPARED BY F EDERAL RESERVE BANK OF S T . RATIO WHOI F S A L F SCALE PRICES PERCENT AGES ARC ANNUAL DATA P L O T T E D « RAT ES OF CHANGE FOR PE RI OD S LOUIS RATIO SCALE SEASONALLY ADJUSTED 1967-100 LATEST SCALE 1967-100 IHOICATED. FEBRUARY PREPARI,0 BY FEDERAL RESERVE BANK OF S T . LOUIS WHOLESALE PRICES - ALL _________________ C O M P O U N D E D TERMINAL MCNTH COMMODITIES, A N N U A L R A TES MONTH INITIAL 7-72 8-72 8-72 7.2 9-72 6.6 6.0 10-72 4.5 3.1 9-72 10-72 11-72 12-72 1-73 2-73 3-73 SEASONALLY AOJUSTED O F C H A N G E ______________ 4-73 196 7 * 5-73 6-73 7-73 9-73 a - 73 10-73 11-73 12- 7 3 100 1-74 1 1 9 . 9 5 ________ _____ 1 2 0 . 5 3 0.4 120.57 T 4.9 4.4 ft. 3 8.5 9.4 14.2 20.1 1-73 d.9 V.2 10 ,1 13.5 16.C 2-73 10.5 I I. 1 1^.1 15.3 17.6 16.3 20.9 i-7 3 12.9 13.« A A * jL 18.3 2C . 9 21.1 26.0 4-73 12.9 14.6 14.7 17.3 19.1 18.9 21.2 .14.2 15.1 18./ 20.5 2C.5 22.8 23.4 19_W . 27.5 S \ + 1 9 . 0 % 133.25 15.7 1 6 .6 i r.8 2 0 .2 2 2 .0 2 2.3 24.4 .25.3 23.4 29.3 31.2 136.30 16.6 15.8 12.3 12.2 5.3 d i>.5 12-72 6-73 j i i vn j 11-72 ^ 8.0 121.40 123.27 12.C 124.44 126.42 129.32 21.4 130.58 12.3 7-7 3 12.7 13.2 14.0 15.6 16.5 16.C 8-73 18.1 1 9 .0 2 J .3 22.5 24.1 24.6 26.5 27.5 26.8 30.7 9-73 15.1 15.8 16.6 18.2 19.2 19.1 2 0 .1 2 0 .0 18.2 19.4 10-73 13.8 14.3 14.9 16.2 17.C 16.7 17.2 16. 7 14.8 11-73 14.4 14.9 ID.5 it.a 17.5 17.3 17.8 17.5 15.8 12-73 15.2 15.7 16.4 17.6 18.4 18.2 18.8 18.6 1-74 16.7 17.3 ia .o 19.3 20.1 2 0 .1 2 C .8 2-74 16.6 17.2 l 7.9 19.0 19.8 19.8 7-72 8-72 9-72 ;1 0 - 7 2 11-72 12-72 - » . r 134.40 31.8 32.0 142.76 17.4 13.2 15.2 12.9 8.7 18.3 -10.4 -3.5 16.3 14.6 11.5 19.5 -0.4 9.1 17.3 17.9 16.6 14.3 21.5 6.4 15.5 26.4 29.5 2 0 .8 19.8 20 .6 19.8 18.3 25.1 13.2 22.3 32.3 37.0 45 .0 20.4 20.3 19.4 2 0 .1 19.3 17.9 23.7 13.5 20 .8 27.8 29.4 29 .3 1-73 2-73 3 - 73 4-73 5-73 6-7 3 7-73 8-73 9-73 10-73 11-73 12- 73 INITIAL 106.3 140.58 31.0 -16.9 140.16 142.63 23. 145.74 150.32 15.4 ] 152.12 1-74 MONTH WHOLESALE PRICES-FARM PROOUCTS AND PROCESSED ______________________________________________________________________ C O M P O U N D E D A N N U A L R A T E S O F FCODS AND FEEDS, SEAS* ADJ. C H A N G E ________________________________________________________________________ » 100 00 1 -j w T E R M I N A L ________________________________________________________________________ I N I T I A L M O N T H _________________________________________________________________________ 1 9 6 7 MONTH 1-74 7-73 9-71 10-73 11-73 12-73 8-72 1-73 2-73 3-73 4-73 5-73 6-73 7-72 9-72 10-72 11-72 12-72 8-72 16.5 9-72 17.3 123*8 125.5 17.8 125.1 10-72 9.8 6.5 -3.8 11-72 12.5 1 1 .1 7 .9 21.0 12-72 23.4 2 5.1 27.7 47.0 78.7 1-73 25.5 2 7.3 29.8 43.4 56.2 36.4 127.1 133.4 136.9 2-73 27.8 29.7 32.2 43.2 51.5 39.4 42.5 3-73 33.4 36.0 39.3 49.9 58.2 51.5 60.3 80.3 4-73 29.3 31.0 33.0 40.3 44.6 37.1 37.3 34.8 0 .8 5-73 32.3 34.1 36.3 43.3 47.4 41.8 43.2 43.4 27.9 6 2 . 3' \ + 3 0 . 7 % 154.3 6-73 36.0 38.1 40.5 47.4 51.6 47.5 49.8 51.7 43.2 70.6 162.0 7-73 26.5 27.4 28.4 32.6 34.2 28.8 27.5 24.7 13.8 18.4 8-73 46.3 49.0 52.3 59.4 64.4 62.7 6 6 .8 71.2 65.5 92.9 104.4 118.2 734.5 9-73 36.0 37.6 39.4 44.1 46.7 43.5 44.4 44.7 39.5 49.8 45.6 35.5 105.6 -47.3 174.9 10-73 29.7 30.7 31.8 35.3 36.6 33.C 32.6 31.5 25.7 30.3 24.8 13.9 43.5 -40.5 -32.8 169.2 11-73 26.2 26.9 27.5 30.3 31.2 27.5 26.7 25.0 ._19.4 -33.4 -25*0 -16.4 141.0 146.1 79.4 1.2 - 4 2 . 9 154.6 184.5 22.3 16.7 7.1 25.4 i9.2_ 21.8 16.9 8.3 23.8 -23.1 27* 3 23.5 17.1 12-73 25.7 26.3 26.9 29.4 30.1 26.7 25.8 1-74 28.3 29.0 29.7 32.4 33.2 30.2 29.7 2 8 .6 24.4 2-74 27.2 27.8 28.4 30.7 31.4 ¿8.5 28.0 _26-8 ¿ 2.58 7-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 148.2 . 25.3._ 2 1 * 7 4-73 INITIAL 5-73 6-73 -0.7 17.9 169.0 32.0 -8.7 4.7 21.4 46.2 81.4 28.3 -6 .1 5.4 18.0 32.4 40.2 7-73 8-73 9-73 10-73 11-73 12-73 177.6 I 178.8 1-74 MONTH PREPARED MARCH 7. 6 166.7 - 12.8 BY FEDERAL RESERVE 1974_______ BANK OF ST. LOUIS INDUSTRIAL PRODUCTION RAT 10 SCALE RATIO SCALE ! 967-100 SEASONALLY PE R C E N TA G ES ARC ANNUAL LATEST PLO TTED ! OATA K A TE S FEBRUARY OF CHANGE FOR I 9 6 7 - 1 00 ADJUSTED PERIODS 1NOIC A T E O . fS E liM iM A R Y PR€PAX£0 IV FE O E R A L R E S E R V E »AM * 9 9 INDUSTRIAL PRODUCTION _______________________ 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 ____ ST. LO U IS . T g R M j N A L ___________ ;__________________________________________________ INITIAI, M O N T H __________ ____ __________________ ______________ _____ ,______________ 1 9 6 7 » 10 0 MONTH 7-72 8-72 8-72 9-72 10-72 11-72 12-72 1-73 2-73 3-73 *~7J 5-73 6-73 Î-73 S~*73 9-73 10-73 11-73 12-73 i-74 13.3 116.3 9-72 13.8 14.3 10-72 15.0 15.9 17.6 117.6 11-72 13.9 14.1 14.0 12-72 13.0 12.9 12.4 10.0 9.4 1-73 12.7 12.6 12.2 10.5 10.4 11 35 2-73 12.7 12.6 12.2 10.9 11.I 12.0 12.4 3-73 11.4 11.2 10.6 9.3 9.0 8.9 7.6 3.0 4-73 10.6 10.2 9.7 8.4 8.0 7.6 6.4 3.5 4.0 5-73 10.3 10.0 9.5 8.3 8.0 7.7 6.8 5*0. 6.0 8.0 6-7 3 10.0 9.7 9.2 8.2 7.8 7.11 6.« 5.4 4 «3 7.5 7-73 10 » 1 9*6 9.4 8*5 S«2 8.1 7*5 & ,5 7*5 1*4 9*a 11*0 8-73 9*0 8.7 8*2 7.3 6.9 6.6 6. C 4.9 5.3 5.7 4*9 3*9 9-73 8.7 8.3 7.8 7.0 6.6 6.3 5.7 4.« 5.1 5.3 4.6 3.9 10-73 8.2 7.8 7.4 6.5 6.2 5*9.. 5.3 ^§4 11-73 3.0 7.6 7.2 6.4 6.1 5.8 5.2 4.5 4.6 i_«7_. 4,2 . 3*7 1*9 3*5 3*4 4*0 12-73 6.9 6.5 6.0 5.2 4.8 4.5 3.8 a.a 3.0 2.9 2.2 1.4 -0.4 0*2 -0.9 »2*3 1-74 6.0 5.6 5»! 4.3 3.8 3.4 2.8 1.9 _ 0.0 - U 7 2-74 5.2 4*8 4.3 3.5 3.1 2.6 2.0 I.I 1.0 0.7 -0.1 ~UjL Î-72 8-72 9-72 10-72 11-72 12-72 1-73 2-7 3 3-73 4-73 5-73 6-73 119.2 10.5 120.2 121.1 122.2 123.4 123,7 124.1 .AdL.. J i L 124,9 6*9 125.6 4*1 U 6 \ + 1 J % _____ 226_tX. 126.4 0«5 3a9 1*0 7-73 126.8 1.9 . j d U J L . -2«e. 8— 7 3 „ . U ? - d L ___ . 111 126.5 -4*3. r J U ® _ -ft* 1 -3.7 -5*1 -8.2 9-73 10-73 11-73 “7*8. _ 12-73 123«H> A...\ _____ l-?4 INITIAL MONTH P- P R E L I M I N A R Y 7 .. PREPARED 8Y FEDERAL RESERVE BANK OF ST« LOUIS MARCH 18, 1974 _ PERSONAL R A T I O SCALE INCOME •MONTHLY T O T A L S AT A N N U A L T R I L L I O N S OF DOLLARS R A T I O SCALE RATES TRILLIONS SEASONALLY ADJUSTED OF DOLLARS 0. 0.7 0. 0.6 0. 0.5 1966 1967 1968 1969 1970 1971 1972 1973 1974 SOURCEt U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR PERIOOS INDICATED. LATEST DATA PlOTTEDt FEBRUARY PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS TEPVINAL MCNTH _ _ 7-72 8-72 P E R S O N A L INCOME CCÌMPCUKOED A N N U A L R A T E S OF C H A N G E __________________________________________________________ B I L L I O N S OF _____________________________________I N I T I A L M O N T H _____________________________________________________________ _____ OCÌLLARS ANNUAL 8-72 12.5 9-72 io.e 9-72 10-72 11-72 12-72 1-73 2-73 3-7 3 4-73 5-73 6-73 7-73 8-7 3 9-73 10-73 Li-73 12-73 RATES 1-74 944.4 9. 1 951.3 10 - 72 14.3 15.2 21,7 U r 72 14.2 14.8 17.8 14.C 12-72 . 12. 9 13. C 14.3 10 . 8 7.6 1-73 11.9 11.7 12.4 9.5 7.3 6.9 2-73 11.7 11.5 12.C 9.7 S.4 8.7 10.5 3 - 73 11.1 10.9 11.2 9.2 e.i 8.3 8.9 7.3 4-73 11.0 10.5 11. 1 9.4 8.6 d. 8 5.4 8.5 10.4 5-73 10.6 1C.6 io. e 9.3 8.6 8.8 9.2 8 .8 9.6 6-73 10.7 10.5 1C.7 5.4 6.7 8 .5 9.3 9.0 9.6 9.2 9 .7 7-73 10.7 10.6 1C.7 5.6 5 »C 5.2 5.6 5.4 10.0 5.8 I C.4 11. 0 8-73 11.C IC * 5 1 1.1 1C.C 9.6 5.5 1 0.3 10.3 1 C.9 11. 0 1 1.7 12.7 967.0 977.6 983*6 989.1 997.4 1,003.3 1,011.6 8 .8 1,018.7 1,026.6 1,035.6 14.4 1,047.3 9-73 11.2 11.1 11.3 . 10.4 1C.C 10.3 10.7 10.7 11.3 1 1.5 12.2 13. C 14. 0 13.6 10-73 11. 2 11.2 11.3 10.5 1C.2 10.4 1 0.8 1C.5 11.4 11.6 12. 1 1 2 .8 1 3 .3 12.8 11.9 11-73 11.4 11.3 i 1 .4 10.7 1 C.4 10.7 11,1 11.1 11.6 11.8 1 2.3 1 2 .8 1 3 .2 12.8 1 2.4 13. 0 1,058.5 1,068.5 1,079.4 12-73 11.3 11.3 11.4 1C.7 1C.5 1C.7 11.1 11.1 11.5 11.7 12.1 1 2 .5 1 2 .8 12.4 12.C 12.1 11.2 1 -74 1 0 .5 1 0 .4 1 0 .5 5 .Ë 9 .5 9 .7 5 .5 5 .8 10.1 10. 1 1C. 2 10. 3 10.2 9 .3 8 .3 7 .1 4 .3 -2.2 2 -7 4 1 0 .4 10.3 10.3 9 .7 5 .4 9 .5 9.9 9.9 S.H 9 .0 8. 1 7 .2 5 .4 2 .6 7 -7 2 8 -7 2 9- 7? 10-72' 1 1 - 7 2 12 - 7 2 5 -7 3 6 -7 3 7-73 9 - 7 3 10-73 11-73 _5 . 7 S.6 5.9 1-7 1 2-73 3-73 9 .8 4-73 8-7 3 1,089.0 12-73 1,087.0 7.5 1.093.6P 1-74 INITIAL MONTH P- PRELIMINARY PR EPARED BY FE DER AL MARCH 2 0 , 1974 8 RESfcRVE BANK CF ST . L OU IS R E T A IL RATIO SALES SCALE BILLIONS 50 OF RATIO OOLLARS SEA S ONA L L Y A DJ US TED BILLIONS 45 OF SCALE DOLLARS 50 45 .. f/ b / 40 40 */J. sÓ\ 35 35 f +S. 5X , —-- 30 25 30 V 25 ocr. *4V AUG. '6* 20 n1 t i L. r 1966 1967 m y . •/» . L M *r. *rs 11 \ M 1968 1969 1970 1971 1972 m 1r r 1973 20 1974 S O M C E i U.S. DEPARTMENT OF C O M M U T E PERCENTAGES ARE ANNUAL RATES OF CHANCE FOR P E R f 008 INO IGATED. LATEST DATA PLOTTEDi JANUARY PRELIMINARY, FEBRUARY ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK Of ST. LSI) IS „...B-f-LA]!.. S A L FS-. GOMPCUNOF.n A N N U A L R A T E S OF C H A N G E TfcKMINAL INITIAL 7-72 3-72 Ä- 72 9-72 1 0 -72 il- 12 12-72 3-73 6.7 -é. 8 20.3 19. 4 11-72 11.4 8.1 12-72 I J.9 11.9 18.9 4. 9 24.1 8— T8.2 25 . 4 17.4 35.2 47. 2 5-73 6-73 7-73 8-73 9-73 10-73 11-73 12-73 1-74 37,746 52.9 39,106 16.4 - 1 1 . 4 36,713 39,417 40,707 ìa.ó lri.O 2 J. 7 17.3 2t.e 31. 2 17.0 3- 7 3 .. '19 . 2 1 ri. 8 23.7 ld.5 27.5 28. 6 20.3 41,242 23.7 f 41,979 4- 7 3 14. û 13 . 0 i6.r 10.9 16.0 14.1 4.8 5-73 14.2 13 • 4 16.2 11.7 16.2 14.c 7.7 4.7 -3.6 16.9^X. #>-73 11.2 10.2 12.1 8.0 ÎUI <5- 1 2.7 -0.5 -7.5 -0.3 -14.9 10.4 9.1 5.7 7-73 M I L L I O N S OF MONTH 4-73 37,969 <3-7? 2-73 2-73 ¿ 2.1 10-72 1-73 1-73 14.5 13.9 16.2 12.7 16.1 15.C - 0.8 - 20.5 41,185 41,723 41,167 \ 16.3 16.0 58 . 0 42,767 8-7 3 12. 3 11.c 1J.4 10. 1 12.7 11.4 7.0 5. 5 2.2 8.8 6 .2 18.6 - 1 1 . 0 42,355 9-73 11.8 11.1 12.7 9.6 12.C 1C.7 6.8 5.4 2*7 8.0 6.0 14 . 0 -3.2 42,535 11.4 ” 1 3.' C 1C.1 12.3 11.2 7.8 6^7 4.5 9.4 7.9 14.5 2.9 10-73 11-73 Ï2->T 12^1 " 10.6 10.4 11.8 9.1 11.0 9.9 6.7 5.6 3.6 7.6 6.1 10. 9 1.5 6.0 ä79~" T . T 9.2 6.6 S.l 6.8 3.8 2.5 C.4 3 .4 1.6 4. 7 -3.6 -1.7 ll.l 16.2 6.4 43,070 'N S*. 42,976 -2.6^V. -3.9 -12.6 -21.5 42,116 1- 7 4 9.7 9.0 10.1 7. 7 9.2 e.i 5.4 4.4 2.6 5.6 4.3 7.3 0.6 3.1 2.6 -1.6 -1.0 2-74 8.7 8.0 tì.9 6.6 0.0 6.9 4.3 3.3 1.6 4.1 2.8 5.3 -0.7 1.2 0.4 -3.2 -3.4 7.1 l~7i ;>-7* 3-73 4-73 5-73 6-73 7-73 S - 73 9-73 10-73 11-73 12-73 7-7 ? _a=-.22.. 9- 7<> 1 n- 7 ? 1 ?- 7 ? 1 INITIAL P- 24.8^S. -8.1 ^ 42 »90 2 P 42«602E 1-74 MONTH PltPl TJ4I MAfiY E- E S T I M A T E D PREPARED MARCH 13, 9 8Y FE D ERAL 1974 RESERVE BANK OF LflUU COMPENSATION PER MAK-HUUR, TCTAl X £ fiM lü A L -------------------------------------------------------------------------------------------------------------------------------I N I U A L l.-£i ..¿ - 6 9 3-t>9 A-hV 1-70 2-70 3-70 4-70 2— 7 1 ^-71 4-7 1 196 7 - 1-12 2-12 4- 7? 1-7Î h~i: 1- I \ 114.7 7.6 4-69 a * 4 ... A m 3 9,9 1-70 6.8 6.3 5.9 2.0 2-70 7 .C 6. 7 6.6 4.9 7.9 I-3_ 6,2 8.3 fL.J 7.2 6,8 4.9 _ 7*3 7.1 6.3 7.8 7..2 6.7 7.6 __ 3-T 7.0___ <♦"70 ...i - n .... 7,2 116.7 7 7_.„i 6.9 6.7 6.7 1 .0 . 6 jl.9._ 119.5 5.9 -. .. 120.1 «... *>.ftiL- ... I - 7 L . ___ 122.4 125.0 126.5 128.9 7.3 131.2 ?.*i? 7.3 6.9 7.6 7.4 7.5 4-71 6.9 6.8 6.7 6.3 /.a ù. d 6.4 6.8 6 .5 6.Q 1-72 7.4 7 »3 7.4 7.1 7.7 7.7 — Lii. e. L 6.1 _ IzU 7.3 7.2 7.2 .. 7 * 0 7«5 7 .5 i*.3 7.7 7.7 3-72 7.1 7.0 7.C . 6*8 7.3 7.2 7. C 7.3 7.2 2.J.— 7.2 JjJL 7.3 — 7.5 7.7 _.1*_7 7.3 7.6 7.6 7.6 7.3 7.6 7.5 Z.ü 7, 5 7.4 __ 7 . 6 . 7L,6 2-7C 3-7C .... 7_x0__- J i » & _ _ L a „ _ J L a _ ...6j.iL I r O ____ _ ^ z L.7 j_ _ 1^1 . 1 - 7 3 ___ 4-73 _Lti . -Lit 7.2 7.6 7 T 7.3 7,1 7.5 7«J^ 7.5 7*3 7 .¿t 1-69 100 J-M a* i. 3-69 ..¿"il 1 - 71 ECONOMY QUART £R__________________ QUARTER _2_-69 P R IV A T E _ 7.3 7*3 2-69 3-69 4— 6 9 1-70 7.5 4— 7 C 133.6 4.6 135.1 a.«q 13.4 7.8 7,9 9.5 5.9 7.2 7.1 8.0 5.4 4.9 LJL-__L^L ?*-2 7.8 .__Éu,JL_ 6.2 7.5 7.8 8»5 7.3 7.8 9.3 11.1 8.1 7.1 7.4 8.3 e.7 6.3 Z*h 7.1 7.4 8.0 8.2 6.8 7.3 7 a 6 ____ 7 *6___ 8 . C 7.3 7.5 e.c 8.2 7.2 7*6 8.0 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 3-72 4-72 1-73 2-73 3-73 1-71 2-71 3 — 71 139.4 141.4 143.1 145* 7 149.6 151.9 154.6 157.6 1Q U A R T E R INITIAL OUT P U T PER M A N-HOUR, TCTAL P R I VATE E C O N O M Y C Û M P C U N O E C A N N U A L R A T E S CF C H A N G E TERMINAL QUARTER INITIAL l-fa9 2-69 -0.8 2-69 3-6S 4— 6 ^ 1-70 2 — 7C 3-70 4-7 0 1-71 QUARTER 2-71 3-71 1967 4-71 1-72 2-72 103.4 3-69 -C.6 -0.4 4-69 - 0 .6 -0 .6 -0.8 1-70 -1.7 -2.1 -2.9 -4.9 2-70 -0.5 -0,5 -C.5 -0.4 4.4 103.3 103.1 101.8 102.9 104.5 3-70 0.6 0.9 1. 2 1.8 5.4 6.4 4-70 0.4 0.6 0.9 1.3 3.4 2.9 -Ü.4 1-71 1. 4 1.8 2.1 2. 7 4.7 4.8 4.1 8.7 2-71 1.5 1. c 2.1 2.6 4.2 4.2 3.5 5.4 104.4 106.6 2.3 107.2 1-4 6 % 3-71 1.9 2.2 2.5 3.0 4 .3 4.3 3.8 5.3 3.6 4.9 4-71 2.0 2.2 2.5 3. C 4.1 4.1 3. 7 4.7 3.4 . _4 . C 3.0 1-72 2 .2 2.5 2 .b 3.2 4.3 4.3 3.9 4.8 3.3 4,4 4.1 . 5.2 2-72 2.6 2.9 3.2 3.6 4.5 4.6 4.3 5. 1 4.4 4.9 4,9 _ 5_,9 6,7 3-72 2.6 2.9 2. 1 3.5 4.4 4.4 4.1 4.8 4.1 4.5 4_*4. _ 4 , 9 4.8 2.9 4 .3 _ 4.7 4.6 5.0 4.1 5 .4 4-72 2.8 3.0 3.3 3.6 4.5 4.5 4. J 4.9 108.5 1-73 3 .0 3.2 3.5 3.8 4.4 5.0 4.5 4.8 4.8 2.7 2.9 3.2 3.5 r 4 *6 1 L Z H i 4.1 4.6 2-73 4.1 3.9 4 *_3.. 3,9 4. 1 3,9 3-73 2.6 2. d 3.0 3.2 3.9 3.8 3.6 4.0 3.5 3.6 3.5 4-73 2 .4 2 .t 2. 7 3 .C 3.5 3.5 3.2 3.5 3.1 1.2 4-69 1-70 2-7C 3-70 4-7 C 1-71 2-71 1-69 * 100 2-69 3-69 INITIAL 109.3 110.7 5.0 5.2 112.5 113.3 U 4 . 8 116.4 5.7 5.1 4.fe 5.5 3,9 3,2 3 . 3 ___2 ^ 2 3.6 3.3 2.6 2.6 1.6 -0.3 3.0 3.0 2.7 2.0 1.8 1. C -Q..6Ï -0.3 - 1 . 0 s1 3-71 4-71 1-7 2 2-72 3-72 4-72 1-73 2-73 3-73 .4 . U > x : 0 . 6 % 116.1 0 . 3 \ ......... LI 5 . 9 ___ QUARTER PREPA RED BY FEDERAL FFRRL»ARY_2.8 j _ L S 7 4 1 0 RESERVE BANK CF ST. L OU IS PRODUCTIVITY, COMPENSATI ON, AND LABOR COSTS R A T I O SCALE 1967-100 RATIO SEASONALLY ADJUSTED SCALE 1967-100 145 135 125 205 195 185 175 165 155 145 135 125 115 105 95 85 1966 1967 1968 1969 1970 1971 1972 1973 1974 SOURCE* U.S. DEPARTMENT Of LASOR PERCENTASES ARE ANNUAL RATES OF CHANCE FOR PEKIOOS INDICATED. LATEST DATA PLOTTED! 4TH QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS UNIT LABCR COSTS, PRIVATE ECCNCMY INITIAL QUARTER T F RM 1N Al QUARTER 1-69 2-69 TCTAL 2-69 3-69 4-69 1-70 2-70 3-70 4-7 C 1-71 2-7 L 3-71 1967 4-71 1-72 2-72 3-72 4-72 1-73 2-73 - 100 3-73 110.9 e.7 112.9 3-69 8.1 7.4 4-69 8,9 9.0 10*7 1-70 8.7 3.6 9.2 115.8 7.8 118.0 2-70 7.6 7.3 7.3 5.6 3.4 3-70 6,6. 6.2 5.9 4.4 2,7 2. 0 4-70 6.5 6. 1 5.8 4. 7 3*6 3* 7 5*5 1-71 5.5 5.1 4.7 3.5 2.5 2.1 2.2 -1.0 2- 7 1 5.4 5*0 4.7 3,7 ¿*9 ... 2*_e 3.0 1*8 4. 7 U 9 . 0 119.6 121.2 120.9 J.O 007- 122.3 3-71 5.1 4. 7 4.4 3.6 2.9 2,7 2.9 2.1 3.7 2.6 4- 71 4.8 4. 4 4.1 3.3 2.7 2.6 2.7 2.0 3.0 2.1 1,6 123.6 1-72 5.1 4. 7 4.5 3,8 3,3 3.3 3*5 3,1 4.1 3.9 4.6 125.9 2-7 2 4.6 4.3 4.0 3.3 2,8 2,8 2.9 2.5 3.2 2.8 2 ,8 3.4 -0*6 3 -72 4.4 4.1 3.8 3.2 2.8 2.7 2. 8 2. 4 3.0 2,6 2.6 2.9 0.6 2,3 2,8 .. 2 * 1 .. 2 *§__ 4-72 4.2 3.9 3.7 .3 , 1 2 m 1 2*_6 2,7 123.1 125.7 126.3 2 *7 If I 1,9 -126.9 _ 1*9^N. 128.5 1 -73 4.3 4. 0 3 .b 3.3 2.9 2.e 2.9 2.6 3.1 2.9 2,9 3.2 2.1 3.0 3.5 5.1 2-73 4.5 4.2 4.0 3.6 3,2 3.2 3.3 3. 1 3.6 3.5 3.6 3.9 3.2 4.1 4.9 6.4 7.7 s' V + 7 . 9 % 130.9 3 - 73 4,6 4.4 4,2 3.6 3.5 3.5 3.6 3.5 3.9 3.8 4.0 4.3 3.8 4.7 5.4 6.6 7.3 133.1 _ _ A -71.... .._4.i_9.___ 4. 6 4jl 5 4.1 3.9 3.9 4. 0 3.9 4 .4 4.3 4.5 6,9 4.5 5.4 6.1 7.2 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1 -7 2 2-72 3-72 4-72 i -69 IN I TIA L - - - -■ IT T] : 7.9 9.0 1-73 2- 7 3 3-73 t ____ 1 3 6 . 0 <Q U A R T E R - --------- II P R E P A R E D BY F E D E R A L F E B R U A R Y 28, 19 74 RESERVE B AN K CF S T . L C U I S _ . GROSS NATIONAL PRODUCT IN CURRENT O C L L A R S ___ CCMPCUNOED ANNUAL RATES CF CHANGE LiPMiNAL. -------- B I L L I L N S CfD OLLARS IN I T I A L QUARTER QLABTER ...... 2 - 6 9 3-69 V - 6 9 ____i z l Q 2-7Q 3rZÆ.. A~7Q___1 - 7 1 ANNUAL 2-7i 3-71 4-71 1-72 2-72 3-72 4-72 1-73 ¿-73 RATES 3-73 2 - 6 9 ___1 ^ 5 _____________________________________________________________________________________________________________________________________________________ 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-7C 1-71 2-71 INITIAL 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 QUARTER G R O S S N A T I O N A L P R O C U C T IN C O N S T A N T 1 9 5 8 O 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 ____________ INITIAL B I L L I O N S OF DOLLARS ANNUAL RATES QUARTER QLARTER 1-69 2-69 3-69 4-69 1-7C 2-7C 3-7C 4-7C 1-71 2-T1 3-T1 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 1-69 2-69 3-69 4-69 1-70 2-7G 3-7C 4-7C 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 IN IT IA L QUARTER PREPAREO BY FEDERAL RESERVE BANK OF S T . LOUIS FEBRUARY 20. 1974 12 DEMAND RATIO SCALE 1966 AND PRODUCTION TOTALS AT A N N U A L QUARTERLY 1967 1968 1969 1970 U.GNP IN CURRENT DOLLARS. RATIO RATES 1971 1972 SOURCEt U . S . 1973 SCALE 1974 DEPARTMENT OF COMMERCE 12.6NP IN 1 9 5 8 DOLLARS. PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PE R IO D S LATEST DATA PLOTTED« I N D IC A T E O . 4TH QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . L O U IS 13 GENERAL RATIO PRICE IN D E X * S CALE RATIO 19 5 8 - 1 0 0 ------ - J — 1966 SCALE 1958-100 i------ 1------ J-. J— 1967 1968 t------ u.--------- LI---------1--------- u --------- u --------— 1 1 0 0 1969 1970 1971 1972 1973 197-4 *AS USEO IN NATIONAL INCOME ACCOUNTS SOURCEt U.S. DEPARTMENT OF COMMERCE PERCENTAGES ARE ANNUAL RATES OF CMANCE FOR PERIODS INDICATED. LATEST DATA PLOTTED. 4TH QUARTER PREPARED BY FEOCRAL RESERVE BANK OF ST. LOUIS IMPLICIT PR I C E C E F L A T C R FCR G R C S S N A T I O N A L P R O C U C T ___________ C C H P O U N D E D A N N U A L R A T E S C F C H A N G E _________ T E R M I N A L ________________ _________________________________________ ______________i.NI.T lA L _ j i U A g T E R _______ ___________________ __________ __________________________________1 9 5 8 * 1 0 0 CLARTER ____________1— 6 9 2-69 3— 69 4-69 1-70 2-7C 3-70 4-7C 1-71 ¿-71 3-71 4-71 ;-72 2-72 3-72 -» - 7 2 1-73 2-73 3-73 ___________ 1-69 2-69 3-69 4-69 1-7C 2-7C 3-7C 4-7C 1-71 2-71 IN IT IA L 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 CUARTER PREPAREE 8Y FEDERAL RESERVE BANK CF S T. LOUIS FEBRUARY ¿ 0 , 1974 14 PERSONAL CCNSUMPTION E X P6 ND IT UR ES IN CURRENT DOLLARS ______ COMPOUNDED ANNUAL RATES CF CHANGE__________________ ______ 4-69 _____________________________________I N I T I A L 1-7C 2-70 3-7C Q U A R T E R ____________________________________________ _______________________ 2-71 1-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 575.8 3 - 6 9____ 7.1 5.6 4-69 7.3 6.6 7.5 1-7C 7,2 6,7 7,3 7 slQ ¿rl£_ 7, C 6,6 7, C tjtl 6.4 6.S 6.6 6.4 6.5 583.7 594.4 604.6 _iuS, 4t— 7 C 6.4 6.C j£*1_ 5* 7 5,3 4.7 3.0 7,4 7,2 7,4 7,4 7,5 7.9 J._6 14.5 7,5 7,6 7.9 8.3 11.1 7.7 7.6 7.9 9.6 7.2 6.7 7,4 7.6 8.8 6.9 6.5 ... ¿ - 7 1 .1 * 4 7*2 JUS 3-71 .1*1 7,2 7,4 4-71 1,2- 7. 1 7,3 1-72 1.5 .__l*fL .. 1 ^ 6 ...U t ¿ - 7 2 ____ _ i * . a _ _1*.2_. _ 7 . fl .. J l- 1 2 - ... 7^e a«,.a 7,9 7.9 7.9 fl.C a,4 fl.4 _ 2-13 8^4 ...fl,4 650.0 662.2 673.0 683.4 6,3 7.a €.0 9.1 7.7 8.2 10.2 fl, 2. fl^ 9.» 4 8.4 8.6 9.3 10.8 11.3 fl , 1 6.3 8.5 9.3 8.4 6.6 9.1 10.C 9.9 _L» £ . . 700.2 719.2 734.1 8.5 £.3 _ e.s 8.7 9.4 8.7 8.9 9.4 10. 1 10.1 9.5 10.5 e,£ 9.1 9.3 1C.1 9.5 9.8 10.3 11.1 11.3 11.3 12.7 15.0 ...e . 4 .S.* 7 fl ,e 9.C 9.3 9.9 9.4 9.6 10.0 10.7 10.8 10.6 11.3 11.8 8.6 .fl.9 _ 9,1 9.4 1C.C 9.5 9.7 10.1 10.7 10.7 10.6 11.2 11.4 9.6 10.7 E.6 e. e 9.0 S_*i 9,1 9.2 9.5 9.9 9.8 9.6 9.8 9.6 7.9 7.6 4.6 1-7C 2-70 3-7C 4-7 C 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 _£*£ _Äx2.. . .J&...5 _ _ L » 1 £ _ A r _ l ' ______ 1-69 7^1 623.7 628.3 a*i . fi.1 ....1-13. 3-73 7,2 ______ c 3-69 4-69 ___ 614.0 ..1t 7 C ... RATES 3-73 . ^¿-6 9 1-71 B I L L I O N S CF DÜ CU L L MA TR SO ANNUAL I o i m i M i __________________ CIARTER 1-^9 2-69 3-69 INITIAL 752.6 779.4 795.6 816.0 825.2 QLARTER P E R S O N A L C O N S U M P T I O N E X P E N D I T U R E S IN C O N S T A N T 1 9 5 0 D O L L A R S _________________ C C M P C U N C E C A N N U A L R A T E S C F C H A N G E ___________________ B I L L I C N S CF T E R M I N A L ___________________________________ ____________________________________ I N I T I A L Q U A R T E R _______________________________________________________________________ D O L L A R S CLARTER ANNUAL RATES 3- 71 4-69 4- 7 C 4- 71 1- 72 3-69 1- 7 0 2- 70 1-71 2-72 3-72 4-72 1-73 2-73 1-69 2- 6 9 3- 70 2- 71 3-73 2-69 3.3 3-69 1.7 469.3 469.5 0 .2 4-69 1•2 2.3 472.2 1-7C 1 .4 2.1 *-7 C 2 •c 2.4 2.5 ? • fl 2 ,9 1•2 1.4 1.1 c .c G •0 - 2 .8 3 .4 3 .6 10 .4 3 .4 3 .5 6 ,9 2 4-7C 1 -7 1 1 -5 2.5 2-71 474.3 1.8 477.5 3 2 ,4 2.8 2.9 1 .2 2 2.S 3.0 1 .2 480. ? 477.5 489.5 3.4 493.6 3-71 2.7 2 .7 3.C 3.1 3 _2 3 .4 3 .6 5 .fl 3.5 3 .6 4-71 2.9 2 .9 3.2 3.3 3, c 1,.7 1 .8 9 .6 4.0 4 .3 5 .0 504.1 512.5 498.0 1-72 3.3 3 3.6 3.7 1,.9 4•1 4.3 .8 4-7 5 .1 «j. 9 2-72 1-7 r .7 4 .C 4.2 4,.5 4,.7 c .0 6 .3 5.5 f .0 6 .9 7 .8 8,.8 ?-72 3 .9 4.2 4.4 4,.6 4 .P 5.1 f ,. 3 5.6 6 .0 6 ■6 7 •2 7 ■3 5.9 4-72 4,. i 4.4 4 - f. 4,.9 c .1 6.6 7.4 6 • fl 523.4 531.0 540.5 5 .3 .4 t t. .8 7 .2 7 .4 1-73 4-4 4 .5 4.0 5-C 5,.2 5 .5 5 .7 f. .7 6.3 6 .7 7 .2 7 •6 7 .8 7.5 8.3 9.3 7-7? 4. 1 4 4-5 4-6 4,.9 K .0 c .2 6 .1 5.6 5 .9 6 .2 6 .4 6 .3 5.7 5.6 4.8 «j, 5, 6 •Q 5,• fl 4,.5 4 .6 4 .6 4 .3 3-71 4-71 1-72 5 . ft ?-73 4-1 4 .2 4. 4 4. 6 4,.£ 4,.9 c.| ■ j,.F 5.4 4-73 l.fe 3 .6 X.9 2^9 4,.1 4, 4 .3 4 .9 4.-4 1-69 2-6 S 3-69 4-69 1-7C 3-7C 4-7C 2-7C 1-71 .. 2-71 IN ITIAL 5.3 5.1 ... 2-72 4.4 552.7 0.4 2.0 2.0 3-72 4-72 1-73 553-3 3-5 558.1 -Q.7 -4*8 2-73 3-73 551.3 QUARTER PR EP AR EC BY FE DE R AL FCBRUARY_.20t 1974 15 RESERVE BANK CF ST. L C U IS ____________ ____ ______ T E R M I N A L_________________ ________ GIARTER 2-69 _______________ _______ 9.1 _iUSL_. .AJL lI. 4-69 2.3 -0 ____________ I N I T I A L ANNUAL RATES Q U A R T E R ___________________________________________ -l.C 1 143.8 --------- -------- 137.9 -15.4 -13.2 -2.3 -7.7 _____ -3.6 7.1 . ______ 1.8 0.3 -3.2 1.3 9.4 11.7 C. 8 -C.6 -3.6 -0.4 4.3 3.C 1-71 3.6 .. 1 3 9 . 2 .. ... 1 3 7 . 4 -5.1 9.3 25.7 .145,5 152.7 2-71 5.4 5.C 3.5 7. C 11.6 12.8 13.1 23.5 21.3 3-71 5.2 4.7 3.4 6.4 1C.1 10.7 1C.5 16.2 11.7 2.9 12.1 12.2 17.C 14.3 10.9 19.5 15.3*8 1 6 0 . 8 ____ 4-71 6.4 6.1 5.1 8.C 11.4 1— 7 2 7.3 7.1 6.3 9.C 12.2 12.9 13.1 17.2 15.1 13.1 18.6 17.7 2-72 8. 1 8.C 7.3 9.9 12.8 13.6 13.9 17.4 15.8 14.4 18.5 18.0 18.3 3— 72 8.7 8.7 8.1 10.5 13.2 13.9 14.2 17.2 15.9 14.8 18. C 17.5 17.4 16.5 4-72 «-3 9-3 R.fl 11.2 13.7 14.4 14-7 17-4 16.3 15-4 18.1 17.8 17.8 17.5 , . . . i £ U L __ 181.5 189.4 18.6 1-73 9.4 9.5 9.0 11.2 13.5 14. 1 14.3 16.7 15.6 14.8 16.9 16.4 16.1 15.4 14.8 9.3 9.4 8.9 10.9 13.0 13.5 13.7 15.8 14.7 13.9 15.6 15.0 14.4 13.5 12.5__ 9.5 3-7 3 9.3 9.3 15.C 14.C 13.2 13.3 12.3 11.3 1-69 8.9 10.7 12.7 13.1 13-2 ....9*fl ll.fi 12.«-5_. 1 4 . C 14.1 3-69 4-69 1-70 3-70 2-69 2-70 15. C 4-7C 1-71 2-71 INITIAL GRCSS PRIVATE COMESTIC __________________ C C M P C U N O E O TERMINAL QLARTER 2-69 3-69 4-69 1-7C 2-70 3-70 4-7C 1-71 7.8 19A*2_......- 14.6 13.9 9.0 7.9 7.9 15.2- . Ü . Ü 14.A __L4*JQ_ 12.9 13.5 16.5 25.7 3-71 4-71 2-72 1-73 2-73 3-73 3-72 4-72 IQ2*.Q QUARTER B I L L I C N S OF DOLLARS ANNUAL RATES QUARTER 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 _AdL .H Q « 8 _ a * o ___ 1 2 . i_ 114.0 _4z69_ 4 1-7C -6.5 -9.7 -19.C -16.7 2-7C -4.5 -6.6 -12.1 -7.1 3.6 3-7C -2.6 -3.9 -7.5 -2.5 5.5 7.5 4-7C -4.0 -5.3 -C.4 -4.9 -C.6 -2.7 -11.9 1-71 -1.4 -2.2 -4.4 -0.6 3.9 4 •G 2.3 16.8 2-71 0.2 -0.2 -1.9 l.E 6 «C 6.6 6.2 16.7 3-71 -C.l -0.5 .-2.JQ 1.1 4.4 4 * 6 .. 1 * 9 4-71 1.7 1.4 0.3 3.4 6.6 7.2 7.1 6.9 102.6 103.5 105.4 102.1 _ 1*1. 106.6 14.6 110.3 1.5 -2.9 12.4 10.4 8.3 11.1 9.3 109.5 20.8 114.8 1-72 2.0 1.8 3.7 6.6 7.0 7.6 13.2 6.1 2-72 3.1 3.0 2.2 4.9 1.6 £.1 8.2 12. C 10.7 9.7 14.2 11.1 16.4 3-72 3.8 3.7 3.1 5.6 8.2 8.7 8.8 12.2 11.1 10.4 14.0 11.8 14.8 13.2 6.3 6.7 9.2 9.4 12.4 11.6 11.1 14.1 12.5 14.7 13.8 14.5 8.7 8.8 11.4 10.5 9.9 12.2 1G.6 11.8 10.3 8-8 3-5 fi.C e.c 1C.2 9.3 8.6 10.4 a. a 9.3 7.6 5.8 1.7 0.0 4-72 4.4 4.5 3.9 1-73 4.4 4.4 3.9 2-73 4.1 4.1 3.6 3-73 4.0 4.0 4-73 4.9 4.9 1-69 2-69 3-69 ......— 213.9 I N V E S T M E N T IN C O N S T A N T 1 9 5 8 O C L L A R S A N N U A L R A T E S O P C H A N G E ____________________ INITIAL 1-69 194.5 11.2 JL2.fi 1-72 116.5 121.0 124.8 1 2«J - 1 5.7 7.6 3.5 5.4 7.2 7.5 7.5 9.4 a. 5 7.9 9.3 7.7 8.0 6.4 4.a 1.8 0.9 1.9 4-5 6.4 8.1 8.5 fi.5 10.f 9.7 9.2 1C.7 9.5 10.0 8.9 8.1 6.6 7.6 11.7 22.5 4-69 1-70 2-70 3-70 4-7C 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 INITIAL 130.2 130.8 137.6 QUARTER PREPAREC BY FEDERAL RESERVE BANK CF ST. FEBRUARY 20 . 1974 16 - 174.7 2-73 4-13..... 1Q.1 133.1 ... ....... — 135.4 3-7C 3-69 H ILL I C N S CF OCLLARS . . . 138.6 ------- 4-7C -¿.-49 _ ------- _lrlC.__ - 1 . 8 5-7 C GRCSS PRIVATE CCMESTIC INVESTMENT IN CURRENT OOLLARS _______ . _ CCMPCUNOfeO ANNUAL RATES CF CHANGE____________________ ____________ __________ LOUIS G O V E R N M E N T P U R C H A S E S CF ___________________ C C M P C U N C E O TEMIMI QUARTER __ 2 - A i „ ? - «9 4- F 2- <?* 1- 7Ç ^ 3 3- 7Ç 4r 7Ç I t 71 2-71 3- 71 4-71 i 72 ¿- 72 3-72 4-72 1-73 2-73 3- 73 ... ..... ¿ 0 8 .... ÉL.S _____I L L . 6 ________ 5 .1 5 .fi 4 .6 1-K S •3 5 .S c .4 6 .1 2r7C 4 .3 4 .4 3 •6 3 .1 C .7 4 .7 4 .1 3 .9 ? .S _A. A-UD 4 .7 Irli 5 .1 2- 7 1 5•3 „__t.ll 4 • fi 2 1 4 .0 21 7 .2 2 1 7 .3 •5.fi 22fl -1 4 «4 4 .3 3 .fi *i.ft 5 .ft 5 .1 S .2 4 .9 6 .6 1 .0 fi c 5 c 2 •3 c•4 5 6 .5 i • fi 7 R ft .*5 b .5 5 .7 5 . i... ft .9 7 .4 6^8 7.1 6 •C 6 .3 f .7 ft.4 £.4 1 7 .9 fi c fi .5 <î-5 6 •7 £ .9 f •S 7 m? 1 .3 fi • 4 fi .9 9 « .fi 11.C 13 ,n 14- 1 ^ c . (i, 22? 2 2 7 .9 2^1 -5 2 3 5 .5 11 .9 2 4 2 .2 25Í1 6 .7 6 •S ft.<5 7,. 1 7 .7 fi .7 fi E 9 .r 9.I 9 -fl in .7 10. 2 ft, Ai.4 f .4 f,c ft . ft ..2 „ a 7 .*> 7 .p 7 .7 7.9 A .7 6.9 3 ,í G .fi Jks.1 2 - .. á .5 6 .7 t .6 .fi ft ,<î 7 a fi P .i fi.r fl-? « .5 7 -á *j.ft, *i. ? 9- fl 1 - 13 f, • F 7,.r 7,. 1 7 •7 1 . -31 fi,,r f .Í f P,.ft f -Ç <3 . ? fl. A 7 .3 7 .ft 1 1- ? 15. 7 ¿=22 7 .C 7.. 7 7 .3 7,.5 7 .ft F,.7 fi,.4 fi .7 fi,.8 <;-1 q .3 8.9 7 .9 fi. 3 in - c 1 1-5 1 C,. A *-13 7,.Q 7 7 m2 7,■Ì 7-4 fi .r fi• 7 fl .4 fl .4 fi-ft fi • fi 8.4 7 7 .7 9.5 9.5 7.<3 5 .5 fi,. i a,.3 fi c fi,.ft .. &*£_ 9 .0 7 .fi a. 1 9*6 9.6 ..a.s. _ 7.6 9 3-70 4-7C 3-72 4-72 iI ■ Vi U> ..1 = 1 2 .. 2~ 7Ç 3 .7 t-fiS 3-7C B I L L I O N S OF DOLLARS ANNUAL RATES INITIAL Q UARTER l- $9 2 - 69 G C C C S A N C S E R V I C E S IN C U R R E N T D C L L A R S A N N U A L R A T E S O F C H A N G E ______________________ 3-73 .2 - 2 2 3-72 4-13 .1 7,.1 7,.3 7 ,3 1-69 2-69 3-69 7,.5 7,.6 4-69 1-70 7, 2-70 1-71 2-71 INITIAL GOVERNMENT 3-71 INITIAL 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 4-71 1-72 2-72 2 5 4 -7 2Afl .7 2 6 8 .6 1-73 275, .Í 279 .n .a 285. »6 QUARTER S E R V I C E S IN C O N S T A N T ÎATES OF C H A N G E P U R C H A S E S CF G O COS AND COMPCUNOEO ANNUAL TERMINAL CLARTER —A b b 2 5 4 .2 ti 1958l D O L L A R S B I L L I O N S OF OOLLARS ANNUAL RATES iQ U A R T E R 3-71 2-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 1 4 6 .3 2-69 -3.C 3-es -3.1 -3.2 4-69 -2.5 -2.3 -1.4 1-7C -3.5 -3.6 -3.8 -6.2 2-7C -4.5 -4.9 -5.5 -7.5 -Ê.7 HA.,6 . 142.3 139.1 3-7 0 -4.3 -4.6 -4.9 -6.C - 6 . C .... - 3 . 1 4-70 -3.8 -3-9 — 4 .C -4.7 -4.2 -1.9 138.0 .... 137.8 -C.6 1-71 -3.7 -3.8 -3.9 -4.4 -3.9 -2.3 -1.9 -3.2 2-71 -3.3 -3.3 -3.4 -3.7 -3.2 -1.7 -1.3 -i.e C.C 3-71 -2.4 -2.4 -2.3 -2.4 -1.7 -C.3 C.4 C .8 2.8 4-71 -1.4 -1.3 -1.1 -1«C. _ — C . 3 1.2 i 2.8 4.8 7.3 e.9 1-72 -1.1 -0-9 -0.1 -0.6 0 .1 1.5 2.3 2.a 4.4 5.t 6.C 3.1 2-72 -0.7 -0.5 -C.2 -0.2 C .5 1.7 2.5 3.C 4.2 5.3 5.2 3.4 3.7 136.7 2 .5 3-72 -1.1 -l.C -C.8 -0.7 -C.l C.9 1.4 1.6 4-72 -0.7 -0.6 -0.3 -0.3 C .3 1.3 1-8 2.C 1-73 -0.5 -0-3 -Q.l -C.C C.5 1.4 i.e 2. 1 2 .£ ... 136.7 138.6 5.7 141.6 142.7 144.0 3.G 2.3 C.2 -1.3 -6.C 3.3. 2.8 1.3 0.7 -0.7 4.9 3 .2 2.8 1.6 1.2 0*4 3.7 2.5 141.8 144.4 -C.4 -C.2 C.C C.l C.6 1.4 1.9 2.1 _ 2*7 3.1 2.7 1.7 1.4 C.8 3.2 2.4 2. 2 3-7 3 -0.4 -C.2 -C.C C.l C.5 1.3 1.7 1.9 2.4 2 .2 2.3 1.4 1.1 0.6 2.3 1.4 C.Û «-7 3 -0.5 -0.3 -C.2 -0.1 C.3 l.C 1.3 1*5 1. 9 2.1 1.7 0.9 0.6 O.C 1.3 0.4 1-69 2-69 3-69 4-69 1-70 2-7C 3-70 4-7 C 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 INITIAL P R E P A R E D BY F E O E R A L F E B R U A R Y 20, 1 9 74 ... 145*2 -O.SL_ ....... .............. -0.3 _ -1.5 -2.5 _ 1-73 3-73 2-73 ____ L 4 4 U . _ 1Q U A R T E R 17 _ 143.5 2-73 ..... 145.1 RESERVE B AN K OF ST« L C U I S . D I S P O S A B L E P E R S O N A L I N C O M E IN C U R R E N T O O L L A R S C O M P C U N C E D A N N U A L R A T E S O F C H A N G E __________ B I L L I O N S GF T E R M I N A L _________________________________________________________________________ I N I T I A L Q U A R T E R ______________________________________________________________ _______ D C L L A R S QUARTER ANNUAL R A T E S 1-69 2-69 3-69 4-69 1-70 3-73 2-70 2-71 3-71 2-73 4-* 3-7C 1-71 2-72 4-72 1-73 1-72 3-72 4-70 2-69 6.9 2-69 145*3 11.7 4-69 9.6 10.0 6.3 A r .lL 9.1 9.2 7.9 9.6 4-7C 1-71 2-71 .661*2 702.4 9.7 9. 2 __ 9*_5 6.6 a.5 7.9 7.8 7.9 5-4 2.8 9-0 9.0 8.5 fi- c 6 .9 7-5 7.2 11-9 9.0 9*0 e-7 8*7 9.C e.c fi.C 10.,7 1C - 5 .....6 1 9 * 0 _ 6-0 .... .. 744.0 9.4 8.6 6.5 8.1 8*1 8.2 7 *3 7-1 fl,.5 6.9 4.*A 8-1 7.7 7 -7 7-7 6.8 6. 6 7,.5 6- I 4-5 4-5 1-72 fi- 1 fl-c 7-6 7.5 7.5 6-8 6-6 7,■4 6-2 5 .2 5.6 fl,.7 __________ 772-8 2-12 ft.n 7.9 7.5 7.5 7- 4 6-8 6.6 7,.? 6.1 5 -6 6-0 6,,7 6,.7 8.0 7.9 7.6 7.5 7.« 6.9 6.8 7,• 4 6-6 6-1 *-5 7,, ? 7,•4 4- 72 8.4 a.4 8. i a. i 8.1 7.7 7-6 fi , ? 7-7 7 . «5 8-1 9,■0 9, 785.4 800.9 8 -1 11. 1 14.6 828-7 1-73 6-6 8.6 8- 3 6.4 6.4 a.r 8 - fi fi..6 6-2 e .c 8.6 9 ,i5 i 1-4 11-0 11-5 ?-71 6-6 a.6 fi-4 8.4 8.4 a. l 8. 1 fl • f* P-l P-1 8.7 9 .4 9 .9 10-7 1 1.6 10.1 a.a '3- 1 2 a.7 6-7 6.5 8.5 8.6 6.2 a.i fl.• fi 8-5 8.1 8 -9 9 .5 10 •r 1C. 6 11.3 1C.2 9-5 ...__L*9 ..1*9 .£*7 &*_£.. 2-69 3-69 4-69 a.6 1-70 2-7C 3-70 in 851.5 869.7 1-71 2-71 INITIAL 3-71 4- 71 891-1 ID *2 ± 2 * 3 _______ __ 9.*J3_. 4- 7C .152*0 _______ ____ _ - 161 L * A... 3-72 1-69 7.01*2 ........ 1 2 1 m A . ... . 6.2 . 4-12 643.2 7.6 .. 4r_7JL ._2_-Jl____ 625.7 ________ 656.1 1 3 . C __ ______ ________ 2-7C __________ 1- 72 2-72 3-72 4-72 1-73 2-73 . 9 1 7 * 8 ______ 3-73 CUARTE» D I S P C S A B L E P E R S O N A L I N C O M E IN C O N S T A N T 1 9 5 8 D O L L A R S ____________C C M P C U N C E D A N N U A L R A T E S G F C H A N G E _______________________________________________________________________ 8 I L L I C N S OF TE R M IN A L__________________________________________________________________________ i n CLART ER ____________ 1 - 6 9 ¿ -6 9 3 -6 9 4 -6 9 1 -7 0 2 -7 0 3 -7 0 4 -7 C 1 -7 1 i t i al 2 -7 1 Q.UARJ E R_.________________________________________ :_____________________________ P-QLLARS_______ ANNUAL RATES 3 -7 1 4 - 7 1 ___ 1 - 7 2 2 - 72 I r l? W ? .....1.Z .7 3 2 -7 3 3 - 7 3 ____________________ _ ^ l £S ______ i x * ___________________________________________________________________________________________________________________________________:____________________________________ 5 1 0 . 0 ____ _ 2 r _ tS _____ _________ 5 x 1 ________ ___ ______ _______ ____________________________________________________________________________________________________________________________________ 5 1 .7 .3 4 -6 9 4 .2 4 .4 3 .C ______________________________________________________________________________________________________________________________________________________ 5 2 1 „2 L r l C _____ 1*1..- 2 x 2 .____2 * 2 ____.lx .2 __________ ______________________________ ______________ __ _________________________________________________________________________ ___ .. - ... . 5 2 4 . 2 ........ 2r_IQ_____ A * _ l I x i ____ 4 x l_ ___ 1 x 2 _____S .* l____________________________________________________________________________________________________________________________________ 5 3 5 - 8 3 -7 C 4 .7 4-7 C 3 . 6 ___ 3 . 6 4 x 9 ____ 4 x 2 ____ 5 * 2 ____ Lt_Z____ 4 x 4 ___________________________________________________________________________________________________________________________ 5 4 1 »6____ 3 .1 3 . 1 _____ 2 * 4____ £ .* ! _ . ^ 2 * 1 __________________________________________________________________________________________________________________ 5 3 7 . 4 _ 1 -7 1 4 x 1 ____ 4 . 2 3 .9 4 .1 2 -7 1 4 .2 4 . 5 ____ 2x.C . _ _2 . 2 ____ ______________________________________________________________________________________________________________ 5 4 7 . 8 _ _ _ 4 . 3 ____ A x l____ 4 x 2 ____ 4 x 4 ____ 1 x 5 ____ 1 x 2 ____ fe-x5____ 5 x J _________________________________________________________________________________________________ 5 5 4 . 6 ____ .. A=_11_____ 1*5____3 . 9 3 .7 1 .7 2 . 9 ____ J L x l_____2 * 1 ____ A d i____ 1 * 2 ____ 2*1____ 1*1_______________________________________________________________________________ 5 6 0 . 9 , , _ 1 -7 2 3 .8 3 .8 3 .6 1 .7 3 . 9 _____ 1 x 2 ____ 2 x S ____ 4 x 2 ____ 1 x 3 ____ 1*1____ ________ I s l______________________________________________________________________ 5 6 5 . 7____ 2 -7 2 3 .9 3 .9 3 .7 1 . 6 ____1 x 9 ____ 1*1____ I x i ____ 4 x 2 ____ 2 x 5 ____ 1 x 1 ____ 1*1____i x S ____ 4 * 2 ______________________________________________________________5 7 1 . 6 , _ 4 x l _____ 1 x 5 ____ l* A ____ 4 x 4 ____ 1 x 1 ____ 1 x 5 .___ 4 x i ____ 4 x 4 ____ 4 * 9 ____ 5*5_____________________________________________________ 5 7 ^ 3 . 2 -7 2 4 .0 4 .C 2 .6 1 *9 4 -7 2 4 .4 4 .5 4 .4 4 .5 4 .7 1 -7 3 4 .5 4 .6 4 .5 4 .6 4 * E ____ 4_x4____ 4 ^ 5 ___ 5 x 1 ......_ 5 x £ _____5 x H ____5 x 6 ____ 6 x 1 ____ 6 * 1 ____ L l6 ____ 8.J7____ 6 * 0 ___________________________________6 0 3 _1_-.11_____ 4 . 3 4 .4 4 .3 4 . 3 ____A x 5 _ _ . _ 4 x J u _ 4 x ! _ _ — A x i . . ___ 4 ^ 4 ___ A*5____ 3*2.____ 5 x 5 ____ 5 x l_ _ ._ .5 * 9 ____ 3 S3 ____ 0 * 6 __________________________ 6 0 - 4 * 8 .- 4 .3 4 .2 2 -7 3 4 .2 4 - 1 2 _____4 . 1 X- 6 9 4 .3 4 .2 4 .1 4 .1 2-69 3-69 4-69 _ 4 .4 4 . 3 _____ 4 x 2 ____ 5 x 2 ____ 4 x S ____ Axfl____ 5 x 5 ____ fe x l____ L x fi____ SLdt___ L1±A____________________________________________ 5 9 5 . 1 ____ 4 .C 4 .C 4 . 7 ____ 4 x 4 ____ 4 x 2 ____ 4 x 2 ____ A s l____ 5*1____ 5 ^ 3 ____ 5*2____ 3 - 2 _____1 ^ ____ 3 J i __________________6 0 9 . 5 ____ 4 . 3 ___ 2 x £ ____ 1 x 3 .___A x 5 _ _ __4*2_ 1-70 " 2-7C 3-7C 4-7C 1-71 A * l___ A x A _____4 * 6 .___ 4 x 7 _____4 ^ 8 ____ 4 ^ 7 ____ 3._0____ 2_._J____ 2 x 2 ____ 2 +5_..........._ 6 1 3 ._ 2 „___ 2-71 INITIAl 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 C U A p TEft P R E P A R E D BY F E O E R m l R E S E R V E F E B R U A R Y 20, 197 4 1 8 BANK Cf ST. L O U I S CORPORATE PROFITS AFTER TAXES # C O M P O U N D E D ANNUAL RATES OF C H AISE QUARTER _________________________ ____________ ______________ ______________ 1-69 2-69 2-69 3— 6 9 4-69 1-70 2-70 3-70 4-70 INITIAL l«7£ 2-71 SMARTER 3-71 9 I L L î Q M S OF DOLLARS ANNUAL RATES ________ 1-72 *-71 2-72 3-72 4-72 1-73 2-73 3-73 -6.6 3-69 46.6 -26.1 4-69 -14.6 -18.4 1-70 -13.9 -16.2 43.2 -9.8 42.1 -10.8 -11.8 40.8 2~ 70 -13.6 -15.2 -11.3 -12.0 -12.1 3-70 -10.8 -11.7 4-70 -13.6 -14.7 -12*2 -12.8 -13.2 -7.6 -6.9 -4*4 39.5 4.1 39.9 -13.7 -28.4 36.7 1-71 -3.9 -3.5 3« £ 7.4 14.8 20.5 102.9 2-7 I -a.3 0.5 5.1 7,8 12.2 19.2 24.i 64»? 33.7 47.1 9-71 1.3 2.3 6*5 f .1 13*0 18. 8 22*8 47.0' 2 5 . 2 J L L lL 49.0 4-71 2.4 3.3 7.3 9.6 A3, i 18.Ü 20.9 37.9 21,2 1-72 3.3 4.2 7.9 10.C 13.1 17.3 19.6 32.6 19.2 14.7 13.5 13.3 2-72 3.7 4« 6 3.C 10.0 12.7 16« 3 18.1 21*4 17.2 13*4 12.1 U .4 43.8 13.7 50.6 52.2 53.4 f.S 3-72 4.7 5.6 8.8 10.6 13*2 16*4 ii.O 26.8 17.2 14.2 13.5 13*4 13.5 17.3 4-72 6.6 7*6 10.fi 12.7 15.3 18.4 20.1 28*2 20.0 17.9 18« 1 19.2 21.2 27.5 38.3 1-73 9.0 10.1 13.3 15.3 17.9 21*1 23.0 30.6 23,6 22.2 23.1 25.0 28.2 35.1 44.8 51.5 2-73 10.2 11.3 14.4 16.4 18.9 21.9 23.7 30.6 24® 4 23.3 24.2 26.0 28.8 34.1 40.1 41.0 31.2 3-73 9.6 10.6 13.4 15.2 17.4 20*0 21.5 27.4 21.7 20.4 20.8 21*8 23.3 26.3 28.6 25.5 14.2 -0.6 4-73 9.2 10.2 12,e 14.4 16.4 18.7 19.9 2 5.2 19.8 18-5 18.7 19.3 2 0 .2 22.0 23.0 19.4 10.3 1.1 2.8 1-69 2-69 3-69 4-69 1-70 2-70 3-70 4-70 1-71 2-71 3-71 4-71 1-72 2-72 3-72 4-72 1-73 2-73 3-73 INITIAL * NATIONAL INCOME P- PRELIMINARY 55.6 60.3 66.9 71.6 71.5 72.0P QUARTER 1B A S I S __ _ PREPARED BY FEDERAL M A R C H 21« 1974 RESERVE BANK OF SOURCES OF DATA National Income and Product Accounts Data Source: U.S. Department of Commerce, Bureau of Economic Analysis Historical Data Sources: 1970-72: Survey of Current Business, July 1973 1968-69: Survey of Current business, July 1972 1966-67: Survey of Current kusinesT, July 1970 1964-65: Survey of Current business, July 1968 1929-63: the National income and Product Accounts of the United States, 29-65. Statistical fables (available from any U.S. Department of Commerce Field Office or from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402). 19 ST. LOUIS IN V E N TO R IE S COMPARED W ITH MANUFACTURING 1 MONTHLY AND SALES* TRADE 72 1 68 Î 64 60 1 56 Ì 52 48 44 I 40 Ì . 36 36 1960 196! * RAT I OS BAS E D 1962 1963 1964 1965 ON S E A S O N A L L Y A D J U S T E D SHADED A R E A S R E P R E S E N T P E R I O D S O F AS D E F I N E D BY THE N A T I O N A L BUR E A U LATEST **D A iA DATA REVISES PLOTTED: FROM JANUARY 1972. 1966 1967 1968 1969 1 9 7 0 1971 1 9 7 2 1 9 7 3 1 9 7 4 S O U R C E : U . S . D E P A R T M E N T O F COMMERCE DATA. BUSINE SS RECESSIONS OF E C O N O M I C R E S E A R C H . PRELIMINARY PREPARED 20 BY F E D E R A L RESERVE BANK OF S T . LOUIS
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