Full text of National Economic Trends : March 1987
The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.
National Economic Trends March 1987 Total spending by federal, state and local governments grew from 18.5 percent of GNP in 1947 to 35.1 percent in 1985. The growth of government spending has been a source of major concern to U.S. citizens, especially in recent years. The basis for this concern is tied usually to one or more of the following propositions: Growing government infringes on private property rights, bidding resources away from private use; and growing government symbolizes large government deficits, which bid up the cost of borrowing and discourage capital formation. Recent trends in government spending are summarized in the accompanying table. Total government spending slowed in 1986 from its rate of increase over the previous two years, although its slowdown was not as pronounced as for GNP. The slowing has been at the federal level, with little change for state and local governments. All major categories of federal spending have contributed to the slowing, with net interest decelerating most dramatically. The volatility of “ other federal spending” reflects the effects of spending on agricultural programs. Trends in Government Spending (compounded annual rates of change) I V / 1 9 8 5 to I V / 1 9 8 6 I V / 1 9 8 3 to I V / 1 9 8 5 5.7% 3.9 2.7 4.1 2.5 1.5 39.8 8.5 8.1 12.1 4.2 Total1 Federal Purchases of goods and services2 Transfer payments Grants-in-aid Net interest Other State, and local Purchases of goods and services Other GNP 7.6% 7.2 9.0 4.6 8.7 15.1 -1 4 .8 8.6 8.9 5.9 7.4 NOTE: Data are on national income accounts basis. Adjusted to avoid double counting of grants-in-aid 2Excludes Commodity Credit Corporation inventory change —Keith M. Carlson T H E F E D E R A L R E S E R \ E llV N K o l S T .IX H X S Views expressed do not necessarily reflect official positions of the Federal Reserve System. TO TA L C IV IL IA N d * L O Y * E W T C O f f f W f f M P . - AWt Wy . RA T E S O f CHAfffrETHOUSANDS I f t l T I A L WMTH 7- QS a - a i - 9-QS 1Q- - 15 Urflg 1 2 - « ___1 - a A 2-86 3-86 4-86 5-06 "è# 6-86 7-86 6-86 9-86 10-96 U-86 12-06 1-87 107,136 9-95_ »*3 1 07*602 5*3 107,792 U-85 3*2 3.2 2.1 2.1 2.0 107t978 1 0 8 *1 49 12-85 3.0 2.9 2.0 1-86 3,9 *.0 3.6 4.1 5.2 8.6 2-86 2.8 2.7 2.1 2.1 2.2 2.3 -3.6 3-86 2.8 2.7 2.3 2.3 2.3 2.5 —0 . 5 2.8 *-86 2.7 2.6 2.2 2.2 2.2 2.3 0.3 2.3 1.9 108*892 108*557 108 *8 07 1.8 108,969 109 *165 5-86 2.6 2.5 2.2 2.2 2.2 2.3 2.3 2.0 2.2 6-86 2.8 2.8 2.5 2.5 2.6 2.7 2.9 3.0 3.6 5.0 7-86 2.9 2.8 2.6 2.6 2.7 2.8 3.0 3.0 3.4 4.0 3.0 109*887 2.0 110*067 0.8 109 *613 8-86 2.8 2.7 2*5 2.5 2.6 2.7 2.8 2.8 3.1 3.3 2.5 9-86 2.5 2.5 2.2 2.2 2.2 2.3 2.3 2.2 2.3 2.3 1.4 0.5 -0.9 10-86 2.5 2. * 2.2 2.2 2.2 2.3 2.3 2.2 2.3 2.3 1.6 1.1 0.7 2.3 2.3 2.3 1.8 1.5 1.3 2.5 2.6 109*9 87 1 10*192 1 10 *432 11-86 2.5 2.5 2.3 2.3 2.3 2.3 2.3 2.2 12-86 2.5 2.4 2.3 2.3 2.3 2.3 2.3 2.2 2.3 2.3 1.9 1.6 1.6 2.4 2.4 2.3 1-87 2.6 2.5 2.4 2.4 2.4 2.4 2.5 2.4 2.5 2.5 2.2 2.1 2.1 2.» 3.0 3.2 4.1 2.6 2.6 2.7 2.7 2.4 2.3 2.4 3.1 3.3 3.5 4.1 4.1 2-86 3-86 4-86 5-86 6 —8 6 7-86 8— 86 9 —8 6 1 0-86 11-06 12-86 1-87 2-87 2.7 2.6 2.5 2.5 2.5 2.6 7-85 8-85 9-85 10-85 11-85 12-65 1-86 1 10 *637 111*011 111 *3 02 M IEPAHED BY FEDERAL RESERVE SANK OF ST* LO UIS ________________________________________________________________________________________________________________ l l - l t t l ____________________________________________ ________ PAYROLL EMPLOYMENT ___________________________________________ _____________________c o m o u m E Q an nu al r a t e s o f c h a n c e ___________________________________________________________ TE R M IHAL___ ____________________________________________________________________ I N I T I A L MONTH___________________________________________________________________________™ OUSAW PS of W k s tm MONTH 1-87 7-8 5 8-85 9 - 8 5 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 *-«6 9- 86 10-86 11-86 12-06 8-85 2.7 9-85 2.8 9 7 * 89 0 90*120 3.0 9 8*428 10-85 3.1 3.3 3.7 11-85 3.1 3.2 3.3 2.9 12-85 3.1 3.2 3.2 3.0 3.0 t-86 3.4 3.5 3.6 3.6 3.9 98*666 9 8*910 9 9*296 4.8 99* 42 9 2-86 3.1 3.2 3.2 3.1 3.1 3.2 1.6 3-86 2.8 2.8 2.8 2.6 2.5 2.3 l.l 0.7 4-86 2.9 2.9 2.9 2.8 2.7 2.7 2.0 2.2 3.7 99*404 9 9 * 78 3 5-86 2.8 2.8 2.7 2.6 2.6 2.5 1*9 2.0 2.6 1.6 6-86 2.4 2.4 2.3 2.2 2.1 1.9 1.3 1.3 1.5 0.4 7-86 2.5 2.5 2.4 2.3 2.2 2.1 1.6 1.6 1.9 8-86 2.5 2.4 2.4 2.3 2.2 2.1 1.7 1.7 1.9 9-86 2.5 2.5 2.5 2.4 2.3 2.2 1.9 2.0 10-86 2.6 2.6 2.5 2.4 2.4 2.3 2.1 11-86 2.6 2.6 2.6 2.5 2.4 2.4 2.1 12-86 2.6 2.6 2.6 2.5 2.5 2.4 J-97 2.7 2.7 2.7 2.6 2.6 2-87 2.8 2.8 2.8 2.7 7-85 8-85 9-85 10-85 P- 9 9*918 -0.9 99* 84 3 1.3 1.1 3.2 1 00*105 1.5 1.5 2.7 2.2 2.2 1.9 1.9 2.9 2.8 2.1 2.3 2.1 2.2 3.0 2.9 3.3 3.2 2.2 2.4 2.2 2.3 3.0 2.9 3.2 3.1 2.9 2.2 2.3 2.5 2.3 2.4 3.0 2.9 3.1 3.1 3.0 2.5 2.4 2.4 2.6 2.5 2.6 3.1 3.1 3.3 3.3 3.3 3.5 3.8 2.7 2.7 2.5 2.6 2.7 2.6 2.8 3.2 3.2 3.4 3.4 3.5 3.7 3.9 4.1 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9—86 1 0 - 8 6 11-86 ii-è é ì-é? 1 00*283 100*5 60 3.4 100*826 1 01 * 0 6 0 101 *3 22 3.1 101*64iP 10l*978P P REL I MI NA RY PREPARÉÒ A y ttoèk kL f t é t f A V É W H i T O * 5 T * L O U I S --------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ----------------------------------------------------- " A RC H » ♦ I 9 8 T ________________ ______________________________ 2 EMPLOYMENT RAT I 0 SCALE M I L L IONS OF RATIO PERSONS SEASONALLY M I L L I ONS ADJUSTED OF SCALE PERSONS 125 120 1 15 1 10 105 100 95 90 85 80 75 SOURCEt U. S . DEPART MENT OF LABOR BEGI NNI NG JANUARY1 1066. TOTAL EMPLOYMENT DATA INCORPORATE NEW PROCEDURES FOR E S T I MA T I N G MEASURES OF I MMI GRATI ON AND EMI GRATI ON I NCREASI NG TOTAL EMPLOYMENT BY ABOUT 0 . 3 % . PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERI ODS LATEST DATA PL OT T E D: I NDI C AT E D. FEBRUARY PRELI MI NARY PREPARED BY FEDERAL RESERVE BANK OF S T . UNEMPLOYMENT SEASONALLY PERCENT 1 1 L OUI S RATE ADJUSTED PERCENT 12.0 . 11. 0 10. 10. 0 9. 9.0 8.0 7. 7.0 6. 6.0 5. 5.0 4. 4.0 1979 1980 1981 1982 1983 1984 1985 SOURCE: U.S. 1986 1987 DEPARTMENT OF LABOR PERCENT OF C I V I L I A N LABOR FORCE LATEST DATA PL OT T E D: FEBRUARY PREPARED BY FEDERAL 3 RESERVE BANK OF S T . L OUI S consulte* PRICE tNDEX FOR ALL URBAN CONSUMERS* SEASONALLY ADJUSTED ___________ __________ CONFOUNDED ANNUAL RATES Of CHANCE_____________________ 4 «0 1 4 TERM INAL________________________________________________________________________ I N I T I A L »W IT H _________________________________________________________________________ 1 9 6 7* 10 0 MONTH 1-07 0-06 9 —0 6 1 0 - 8 6 1 1 - 0 4 1 2 - 0 6 7—06 5-86 7-85 2-06 3—0 6 4-86 8-95 1-00 9-95 10-85 11- 0? 12-85 323.3 1.9 8-85 9-85 1.7 1.5 10— 85 2«6 3.0 325.7 *.5 324.9 326.6 11-85 3.6 4.1 5.5 6.5 12-85 3.6 4.0 *.9 5.1 3.7 1-86 3.7 *•1 *.7 *.8 3.9 327.6 4.1 328.7 327.8 2-86 2.7 2.8 3.1 2.7 1.5 0.4 -3.2 3-86 1.7 1.7 1.7 1.2 -0.1 -1.3 -3.9 -4.7 *-86 1.2 1.1 1.0 0.* -0.7 -1.8 -3.7 —4 . 0 -3.3 5-86 1.3 1.3 1.3 0.8 -0.1 -0.9 -2.1 -1.7 -0.2 3.0 6-86 1.7 1.7 1.7 1.3 0.6 0.1 -0.7 0.0 1.6 4*1 5.3 7-86 1.6 1.6 1.6 1.2 0.6 0.2 -0.5 0.1 1.3 2.9 2.0 3 26.5 325.6 3 26.4 327.0 0.4 3 27.9 3 28.4 8-86 1.6 1.6 1.6 1.3 0.7 0.4 -0.2 0.4 1.4 2.6 2.5 1.1 1.8 9-86 1.7 1.7 1.8 1.5 1.0 0.7 0.3 0.8 1.8 2.8 2.8 2.0 2.8 3.7 10-86 1.8 1.8 1.8 1.6 1.1 0.9 0.5 1.0 1.8 2.7 2.7 2.0 2.6 3.0 2.2 11-86 1.9 1.9 1.9 1.7 1.3 1.1 0.8 1.2 2.0 2*8 2.7 2.2 2.7 3.0 2.6 329.4 330.0 330.8 2.9 331.4 12-86 1.9 1.9 1.9 1.7 I.* 1.2 0.9 1.3 2.0 2*7 2.6 2.2 2.6 2.8 2.5 2.6 2.2 1-87 2.2 2.2 2.3 2.t 1.8 1.7 1.5 1.9 2.6 3.3 3.3 3.1 3.5 3.0 3.9 4.4 5.2 8.3 2-87 2*4 2.* 2.5 2.3 2.1 1.9 1.8 2.2 2.8 3.5 3.5 3.3 3.7 4.1 4.1 4 *6 5.2 6.7 5.2 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-§6 4-86 5-8* 6— 86 7-86 0-86 9-86 10-06 11-06 IZ-06 1-07 333.6 335.0 fllE P A JlE D B T FED ER AL RESERVE BANK U f s r . ~ U J U l S MARCH 27* I f 7_____________________________________________ PROOUCER M I C E IN D E X * F IN IS H E D 6 00 0S - S EAS O N ALLY A O JU S TE D * ________________ C OflPflU fftE P A H ffiM l M I S S 3 ?. ________________ TERMI NAL________________________________________________________________________ I N I T I A L MONTH __________________________________________________________________________1967 « MONTH 1-87 9 - 86 10-86 11-86 12-86 7-86 8-86 7-85 e-85 9 - 8 5 10-85 11-05 12-85 1-86 2-86 3-86 4-96 5-86 6-86 -3.2 -5.6 -7.9 10-85 -0.8 0.4 11-85 l.l 2.6 8.3 7.2 12-85 2.0 3.4 7.5 6.5 5.8 1-86 1.0 1.8 4.4 2.7 0.6 -4.4 2-86 -1.7 -1.5 -0.2 -2.4 -5.4 -10.6 -16.5 3-86 -2.8 -2.8 -1.9 -4.0 -6.6 -10.5 -13.4 -10.2 4-86 -3.2 -3.2 -2.5 -4.4 -6.5 -9.4 -11.0 -8.1 -6.1 6-86 -1.9 -1.8 -1.0 -2.3 -3.6 -5.1 -5.2 -2.1 0.7 4.2 2.5 7-86 -2.5 -2.4 -1.8 -3.0 -4.2 -5.6 -5.8 -3.5 -1.8 -0.3 -3.3 -8.8 8-86 -1.9 -1.8 -1.3 -2.3 -3.3 -4.4 -4.4 -2.2 -0.5 0.9 -0.7 -2.3 4.7 >0 i 293.7 8-85 9-85 —1.6 -1.4 -0.9 -1.8 -2.6 -3.5 -3.4 -1 .4 0.1 1.4 0.3 -0.4 4.0 3.4 291.7 293.9 9.4 295.6 297.0 295.9 291.5 288.9 CD 5-86 2 87.4 2 88.8 6.0 289.4 2 87.2 2 88.3 289.1 10-86 —1.2 -1.1 -0.5 -1.3 -2.0 -2.8 -2.6 -0.7 0.7 1.9 1.1 0.7 4.1 3.8 4.2 11-86 -l.l -1.0 -0.4 -1.2 -1.8 -2.5 -2.3 -0.6 0.7 1.7 1.0 0.7 3.2 2.7 2.3 0.4 12-86 -l.l -1.0 -0.5 -1.2 -1.8 -2.4 -2.2 -0.7 0.5 1.3 0.7 0.3 2.3 1.7 1.1 -0.4 -1.2 1-87 —0 . 6 -0.5 0.0 -0.6 -1.1 -1.6 -1.4 0.1 1*2 1.5 1.4 3.2 2.9 2.7 2.2 3.1 7.7 2-87 -0.6 -0.4 0.0 -0.5 -1.0 -1.5 -1.2 0.1 1.1 1.9 1.4 1.3 2.8 2.5 2.3 1.9 2.4 4.2 0.8 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86 10-06 1 1-86 12-86 1-87 »D A TA 100 290.1 290.2 289.9 2 91.7 291.9 FOR FOUR MONTHS ACO R E V IS E D T O R E F L E C T L A T E * E P O R TIN E F K E fM tE O # Y fE D E K M - RE » « V i BANK OF 4 T . t Ö U I i W W M l ì . I M I _____________________________________________ 4 RATIO PR I C E S SCALE 1967-100 SEASONALLY 1979 1980 CONSUME R P R I C E I MO EX C P l- U DATA B E G IN N IN G 1981 1982 1983 OATA P L O T T E D t 1984 PRODUCER SCALE 1967-100 1986 1987 IN D IC A T E D . FEM RAL R fU R V t BANK « P R IC E S 1979 1980 1981 1982 1983 DATA P LO T T E D : 1984 ST. L O U IS RATIO SCALE 1967-100 SEASONAL L Y A DJ US T ED P ER C E N T A G E S ARE ANNUAL R A T E S OF CHANGE FOR P E R IO D S LA T E S T 1985 FEBRUARY PREPARE» I T RATIO SCALE 1967-100 I S FOR A L L U RBAN C O NS UM E RS < C P I - U > . I t i ) IN CO RPO RATE A RENTAL EOU I V ALEN CE M EASURE FOR HOtfEOVNCRSH I P C O S T S . P ER C E N T A G ES ARE ANNUAL R A TE S OF CHANGE FOR P E R IO D S LA TEST RATIO ADJ US T ED 1985 1986 1987 IN D IC A T E D . FEBRUA RY P R tP A R E D BY FED ER A L R E S U t Y E BANK O f ST. L O U IS PRODUCER P R IC E IN O E X , F IN IS W E O CONSUMER FOODS - SEASO NALLY A D JU S T E D * ______________________ CQHPQUMDED ANNUAL R ATES O f CHANCE______ ______________________ J E B- MI MAL________________________ __________________________________ _______________ _____ I N I T I A L flQ N T H MONTH 3-86 7-85 1-86 2-86 9 - 8 5 1 0 — ft 5 1 1 - 8 5 1 7 - 8 5 4-86 5-86 8-85 8-85 6— 8 6 7-86 8-86 9-86 10-86 11-86 12-86 1— 87 268.8 -9.7 266.4 9-85 -10.0 -10.2 10-85 __ - 1 . 3 3.2 18.5 1 1- 85 2.7 7.2 17.1 15.7 12-85 4.3 8.1 15.0 13.3 8.4 5.3 0.4 -9.2 -12.2 -1 5 .1 -7.6 -6.8 270.2 273.5 275.9 11.1 273.7 1-86 1,9 4.4 2-86 -0.7 0.9 3.3 -0.2 -5.0 3-86 -0.3 1.1 3.1 0.3 -3 .3 4-86 0.3 1.6 3.4 1.1 -1.6 -4.5 -2.9 3.8 5-86 2.0 3.3 5.2 3.4 1.5 -0.3 2.0 8.4 11.6 18.1 6-86 1.9 3.2 4.8 3.2 1.5 0.0 1.9 6.7 8.2 9.6 7-86 3.1 4.4 6.0 W 3.4 2.3 4.4 8.7 10.4 12.1 9.3 17.3 8-86 4.2 5.5 7.0 5.9 4.9 4.2 6*2 10.2 11.9 13.6 12.1 17.7 18.1 9-86 3.8 5.0 6.3 5.3 4.3 3.6 5.3 8.6 9.7 10.6 8.7 11.2 8.2 10-86 4.3 5.4 6.7 5.8 5.0 4.4 6.0 9.0 10.0 10.7 9.3 11.3 9.3 5.2 11.6 11-86 3.9 4.9 6.0 5.1 4.3 3.7 5.1 7.6 8.3 8.7 T.2 8.3 6.1 2.4 4.1 -2.9 4.2 6.3 6.8 6.9 5.4 6.0 3.9 0.6 1.1 -3.7 12-86 3.4 4.2 1-87 1.9 2.7 2-87 1.5 2.2 7-8 5 8-85 9-85 5.3 3.0 270.0 270.5 2.2 271.7 5.5 _ 275.5 275.9 1.8 279.6 283.5 283.3 -0.8 285.9 285.2 284.1 -4.5 4.4 3.6 3.5 2.6 1.7 1.0 1.9 3.6 3.8 3.6 1.9 1.9 -0.4 -3.8 -4.5 -9 .3 -12.4 -19.5 3.0 2.1 1.2 0.6 1.3 2.9 2.9 2.7 l. l 1.0 -1.2 -4.0 -4.7 -8.4 -10.1 -1 2 .8 -5 .5 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86 10-86 11-86 12-86 1-8 7 279.0 277.7 INITIAL HÔWTW »DATA FOR F OUR MONT HS 4 60 REVISED TO REFLECT L AT E REPORTING PRËPARlb Ö* PR 0 0 U t ER PRICE INDEX, FINISHED C OMP OU N D E D TERMINAL MONTH INITIAL 7-85 8-85 -1.2 9-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 - SEASONALLY 7-86 ^0 1 CD MARCH 13t E X C L U 0 I N 6 FOODS R A T E S OF C H A N G E GOODS, ANNUAL 1967 4-86 5-86 6-86 8-86 10-86 11-86 12-86 -7.0 “ 0*8 -0 .6 6.2 11-85 0.7 1.3 5.8 5.3 100 299.5 300.8 301.7 12-85 1.3 1 .9 5.1 4.5 3.7 1-86 0.6 1.0 3.1 2.0 0.4 -2.7 2-86 -2.1 -2.3 -1.3 -3.1 -5.7 -10.1 -16.9 3-86 -3.7 -4.0 -3.5 -5.4 -7.9 - L i . 4 -15.4 -14.0 4-86 -4.3 -4.7 -4.4 -6.0 -8.2 -10.9 -13.5 -11.7 301.0 296.4 292.7 -9.4 290.3 290.9 5-86 -3.7 -3.9 -3.6 -4.9 -6.5 -8.4 -9.7 -7.2 -3.6 6-86 -3.1 -3.3 -2.9 -4.0 -5.2 -6.6 -7.4 -4.9 -1.6 2.5 2.5 7-86 -4.3 -4.6 -4.4 -5.5 -6.8 -8.2 -9.0 -7.4 -5.6 -4.3 -7.6 -16.7 8-86 -4.0 -4.2 -3.9 -4.9 -6.0 -7.1 -7.7 -6.1 -4.5 -3.2 -5.0 -8.5 0.4 2.5 291.5 287.1 287.2 288.4 9-86 -3.4 -3.5 -3.2 -4.0 -4.9 -5.8 -6.2 -4.6 -2.9 -1.6 -2.6 -4.2 2.7 5. 1 10-86 -3.0 -3.2 -2.9 -3.6 -4.3 -5.1 -5.4 -3.8 -2.3 -1.0 -1.7 -2.8 2.4 3.4 1.7 11-86 -2.7 -4.5 -4.6 -3.2 -1.7 -0.6 -1.1 -1 .8 2.3 3.0 1.9 2.1 -2.5 -3.1 -3.8 289.3 -4.3 -2.9 -1.6 -0.6 -1.0 -1.6 1.8 2.1 1.1 0.8 -0.4 -2.5 -2.5 -1.1 0.3 1.5 1.3 1.2 4.5 5.3 5.4 6.7 9.0 19.4 2-87 -1.2 -1.2 -0.9 -1.3 -1.8 -2. 1 -2.1 -0.7 0.6 1.6 1.5 1.4 4.3 4.9 4.9 5.7 6.9 10.8 7-85 8-85 9-85 10-85 11-85 1-86 5-86 6-86 7-86 8-86 9-86 10-86 11-86 12-85 o -4.1 -2.1 3-86 i L.i r ^ MON T HS A GO R E V I S E D TO REFLECT L ATE 4-86 i il— 289.2 293.5 2.9 • -3.6 -1.6 294.2 r- -3.0 - l . l 60 -2.4 -1.5 00 1 -2.7 -1.5 IM -2.6 1-87 1 00 -2.8 288.8 12-86 F OUR « 1-87 298.0 -4.1 FOR L' OUÏ S ADJUSTED» MONT H 3-86 ST. 299.8 10-85 »DATA ÖT « ò É f t A L ' ftese*Ve"&ARK 1987_____________________________________________ i REPORT I N S PftEPAAED &y PEOERAL RESERVE BANK OF S T . LO UIS HARCH 13» 6 1987______________________________ INDUSTRIAL RATIO PRODUCTION S CA L E RA TI O 1 9 77 -1 00 135 SEASONALLY A&JimED S CA L E 1977-100 130 125 120 1 15 î 10 105 100 95 90 1979 1980 1981 1982 1983 1984 PERCEN TAGES ARE AHWUAL RATES OF CHANGE FOR PERIO D S LA T ES T DATA PLOTTED« 1985 1986 1987 IN O IC A T ED . FE8 R 0A R Y PR E L IM IN A R Y PREPARED BY FED ERAL RESERVE BANK OF S T . L O U IS I N D U S T R I A L P RODUCT I ON CQfjPfflfNPEE A ffttM L R A T E S Pf CHA NfrE INITIAL TERMINAL MONT H 7-85 8-85 9-85 10-85 11-85 1-86 2-86 3-86 1977 MONTH 5-86 4-86 6-86 7 —8 6 8-86 9-86 11-86 10-86 12-86 10*2 9-85 * •5 -1.0 10-85 0,6 -3,8 “ 6, 6 n -8 5 3.4 1.3 2 ** 12.3 * ♦3 2.9 * •2 10.1 8.0 100 124.3 123.6 124.8 125.6 126.2 3,5 *.7 9,7 6,9 5,9 2-86 2.7 1.5 1.9 4.2 1.6 -1.4 -8.2 3-86 0.2 - I .1 - I .1 0.0 -2.9 -6.2 -11.7 1-86 125.3 123.6 -15.1 124.7 *-86 1-Ï o.* 0.6 1.8 -0.2 -2.1 -4.7 -2.8 5-86 0.8 -0.2 -0.1 0.8 -1.0 -2.7 -4.7 -3.5 2.9 -4.7 6-86 0.7 -0.2 -0.1 0.7 -0.8 -2.2 -3.8 -2.6 2.0 -2.4 0.0 7-86 1.2 0.* 0.6 1.4 0.1 -1.0 -2.0 -0.8 3.2 0.6 3.4 7*0 8-86 1.3 0.6 0.7 1.5 0.3 -0.6 -1.5 -0.3 2.9 1.0 2.9 4.4 1.9 9-86 1.0 0.% 0.5 1.1 0. 1 -0.7 -1.5 -0.5 2.1 0.4 1.7 2.3 0*0 124.2 124.2 124.9 125. 1 124.9 -1.9 125.3 10-86 1.2 0.6 0.7 1.4 0.4 -0.3 -0.9 0.0 2.4 1.0 2.1 2.7 1.3 1.0 3.9 11-86 1.6 1.0 1.2 1.8 l.o 0.3 -0.2 0.7 2.9 1.8 2.9 3.5 2.7 2.9 5.4 6.9 12-86 1.8 1.3 1.5 2.1 1.3 0.8 0.3 1.2 3.2 2.3 3.3 3.9 3.3 3.6 5.6 6.4 5.9 1-87 1 *8 1,4 1.5 2,1 1,4 0,9 0,5 1,3 3.1 2,3 3,2 3.6 3,1 3.3 4.6 4.9 3*9 1.9 2-87 2.0 1.5 1.7 2.2 1.6 1.2 0.8 1.6 3.3 2.5 3.3 3.9 3.3 3.5 4.7 4*9 4.2 3.4 4.8 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86 10-86 11-86 12-86 1-87 INITIAL P- » 1-8T 124.4 8-85 12-85 12-85 126.0 126.6 1 2 6 . 8P 1 2 7 . 3P MON T H P R E L I MI N A R Y " " PREPARED BY FEDERAL RESERVE BANK OF S T . ----------------------------------------------------------------- ------------------------------------- MRCH Uf 7 L OU I S ________________________ PERSONAL RATIO SCALE TRILLIONS MON T HL Y OF DOLLARS TOTALS INCOME AT SEASONALLY A NN UA L RATIO RATES T R I L L I ONS ADJUSTED OF SCALE DOLLARS 4.0 3.8 3.6 3.4 3.2 3.0 2.8 2.6 2.4 2 .2 2. 2.0 1 .8 1979 1980 1981 1982 1983 1984 1985 SOURCEt PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERI ODS LATEST DATA PL OT T E D: U.S. 1986 DEPARTMENT 1987 OF COMMERCE I ND I C AT E D. FEBRUARY PRELI MI NARY PREPARED BY FEDERAL RESERVE BANK OF S T . L OUI S PERSONAL intone COMPOUNDED ANNUAL RAT ES OF CHANCE INITIAL TERMI NAL 6 I L L r ows DOLLARS A W U A i RAT ES MONTH MONTH ?-<?? 8-15 1.9 9-85 3.4 8-85 9-85 10-85 1 1*85 1 2 - 8 5 1-96 2-86 3-86 4-86 5-96 6-96 7-86 8-86 9-86 10-86 11-86 12-86 1-87 3*320.5 3*333.9 5.0 3*358.3 13-85 5.3 7.0 9.1 11-85 5.2 6«^ 7.1 5.1 12-85 7.6 9.1 10.5 11.2 3*372.3 3*418.0 17.5 3,417.* 1-86 6.2 7.1 7.7 7.2 8.3 -0.2 2-86 6.3 7.0 7.5 7.0 7.7 3.1 6 5 3-86 5.9 6.5 6.8 6.3 6.6 3.2 5 0 3.5 4-86 7.0 7.6 8.0 7.8 8.3 6.2 8 4 9.3 5-86 6.0 6.5 6.7 6.4 6.6 4.5 5 7 5.5 6.5 -1.9 6-86 5.5 5.9 6.0 5.6 5.6 3.8 4 6 4.1 4.3 -0.8 3*435.3 3*445.1 3*486.8 15.5 3*481.3 3*481.9 0.2 3*490.8 7-86 5.3 5.6 5.7 5.3 5.3 3.7 4 3 3.9 4.0 0.5 1.6 3.1 8-86 5.1 5.3 5.4 5.0 5.0 3.5 4 1 3.7 3.7 1.0 1.9 2.8 2.5 9-86 5.0 5.2 5.2 4.9 4.8 3.5 4 0 3.7 3.7 1.5 2.3 3.0 3.0 3.5 10-86 4.9 5.1 5.1 4.7 4.7 3.5 3 9 3.6 3.6 1.8 2.5 3.1 3.1 3.5 3*497.9 3*507.9 3*517.8 3.4 3*523.3 11-86 4.7 *.9 4.9 4.5 4.5 3.4 3 T 3.4 3.4 1.8 2.4 2.9 2.8 2.9 2.7 1.9 12-86 4.8 5.0 5.0 4.7 4.7 3.6 4 0 3.8 3.8 2.4 3.0 3.5 3.6 3.9 4.0 4.3 6.8 3.6 4.4 2.1 3*542.7 1-87 4.6 4.8 4.8 4.5 4.5 3.5 3 8 3*6 2.4 2.9 3.3 3.4 3.5 3.5 3*6 2-87 5.0 5.2 5.2 4.9 4.9 4.1 4 4 4.2 4.3 3.3 3.8 4.3 4.5 4.8 5.1 5.5 6.7 6.7 11.5 r-85 6-85 9-85 10-85 11-85 12-85 i-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86 10-86 11-86 I Z —86 1-87 3*548.9 3*58l.3P PRE PARE D BY F EDERAL RE SE RVE BANR OF S T . X Ü U 13 MARCH 1 9 » 1 9 8 T __________________________ 8 RETAIL RATIO SALES SCALE BILLIONS OF 1979 RATIO DOLLARS 1980 SEASONALLY 1981 1982 BILLIONS A DJ US TED 1983 1984 1985 SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERI ODS L A T E S T DATA PL OT T E Dt J ANUARY, U.S. OF 1986 1987 DEPARTMENT OF COMMERCE I NDI C AT E D. FEBRUARY ADVANCE ES T I MA T E PREPARED BY FEDERAL RESERVE BANK OF S T . ___________________________________ C Q f f P W f W E P RETAIL Af t t WAl SALES KATE? T E R M I N A L ________________________________________________________________________________I N I T I A L MONT H MONT H 7-85 8-85 9 -8 5 10- 85 11-65 12-35 1-96 2-86 3-86 4-86 5-96 8-85 Qf LOUI S _________________ ____________________ ÖOLLkU 6-86 7-86 8-86 9-86 10— 5 6 11-86 12-86 1-87 19.7 116*349 1 18*499 22. 1 24.6 10-85 l.l -7.0 -30.6 il-85 1.9 -3.4 -14.9 9-85 SCALE DOLLARS 114*947 4.3 115*354 116*687 12-85 4.4 0.9 -6.0 9.4 14.8 1-86 5.0 2.3 -2.7 9.0 11.3 2-86 3.7 1.3 -2.8 5.7 6.2 2. 1 -3.5 3-86 2.7 0.5 -3.0 3.7 3.5 0.0 -3.8 -4.1 117*439 8.0 117*090 116*694 117*715 4-86 3.6 1.8 - l . l 4.9 5.0 2.7 0.9 3.2 11.1 5-86 4.3 2.7 0.2 5.6 5.8 4.1 3.2 5.5 10.7 10.2 6-86 4. 1 2.7 0.5 5.3 5.4 3.9 3.1 4.9 8.0 6.5 118*675 119*960 2.9 7-86 4.5 3.2 1.3 5.7 5.8 4.6 4.1 5.7 8.2 7.3 5.8 8.9 8-86 5.5 4.4 2.8 6.9 7.2 6.3 6.0 7.7 10.2 10.0 10.0 13.6 18.6 9-86 10.2 9.5 8.3 12.8 13.6 13.5 14.2 17.0 21.0 23.0 26.4 35.4 51.1 10-86 4.9 3.9 2.5 5.0 6.0 5.1 4.8 5.9 7.4 6.8 6. 1 7.0 6.3 11-86 4.2 3.2 1.9 4.9 4.9 4. 1 3.7 4.5 5.7 ^♦9 4.1 4.3 3.2 12-96 7.5 6.8 5.7 8.9 9.2 8.8 8.9 10.2 11.9 12.0 12.2 13.9 14.9 14.0 -4.3 29.1 76.6 1-87 1.7 0.7 -0 .6 1.8 1.6 0.7 o.i 0.4 0.9 -0.2 -1.5 -2,1 -3*8 -7.7 -23.2 -12.9 -16.3 -60.4 2-87 4.2 3.4 2.2 4.8 4.8 4.1 3.8 4.4 5.3 4.7 4.1 4.2 3.6 1.3 -10.9 1.6 4.1 -20.1 61.2 7-85 8-85 9-85 10-85 11-85 12-85 1-86 2-86 3-86 4-86 5-86 6-86 7-86 8-86 9-86 10-86 11-86 12-86 1-87 128*331 -1.5 <-<■> PE- 121*523 92.3 I ro INITIAL 119*904 -29.5 121*655 121*062 -5.7 126*938 1 17 * 5 1 9 P 1 22 * 2 9 1 E 1MONT H PRELIMINARY ESTIMATED PREPARED BY F E DE RAL MARCH 1 2* 1 9 8 7 9 RESERVE BANK OF ST. LOUIS HOURLY COMPENSAT I ON* B U S I N E S S SECT OR COMPOUNDED ANNUAL RAT E S O f CHANCE J E M I NAL_______________________________________________________________________ I H I T ! A t QUARTER QUARTER 2-6* 1-82 i-e * 2-82 3-82 1-83 2-83 3-83 *-83 *-82 ?2-82 6.8 3-82 7.1 * -8* 1 -85 2 -8 5 3 -8 5 *—65 1 -86 2 -6 6 3-66 153.6 156.6 7.5 1 56 .3 *-82 6.2 * .* 1-83 5.7 *.3 *.1 2-83 5.0 3.7 3.3 2.5 3-83 *.* 3.1 2.7 2 .0 1 59.9 1 60.9 161*5 1 .5 *-83 *.6 *.2 3.6 3.3 3.1 3** 5 .3 1 -8 % *.7 * .* 3.9 3.8 3.8 * .2 5 .5 1 6 3 .6 5*7 1 65.9 167.1 2-8* *.5 *.2 3.8 3.7 3.6 3 .9 *.6 * .3 2 .9 3-8% *.5 *.3 3.9 3.8 3.8 *.0 4# 6 *.* 3.8 *•6 *-8* *.5 *.2 3.9 3.8 3*8 *.0 * .5 *.3 3 .8 * .2 .8 3.9 3.8 3.8 * .2 .9 *.0 1 69 .0 1 70 .6 1 72.3 1-85 *.* *.0 *.* * .2 3.9 2-85 *.5 *.3 *.0 *.0 *.0 * .1 * .5 *.* * .1 *.* .* *•6 5 .2 3-85 *.5 *. 3 *.0 *.0 *.0 *.2 *.5 * .* * .2 * .* .* *.6 * .8 * .* * -85 * .* *.3 *.0 *.0 *.0 * .1 * .* *.3 * .1 *.3 .2 *.3 *•* * .1 3 .7 1-86 *.3 *♦1 3.9 3.9 3.9 * .2 * .l 3.9 *.0 ♦9 *.0 3.9 3.5 3 .1 2 .5 2-86 * .2 * .l 3 .8 3 .8 3 .8 3 .9 *.1 * .0 3 .8 3 .9 .8 3 .8 3 .7 3 .* 3 .0 2 .7 2 .9 3 .7 3 .7 3 .8 * .0 3 .9 3 .7 3 .8 .7 3 .7 3 .6 3 .3 3*0 2 .8 2 .9 2 .9 1 7* .5 176.* 1 76 .0 1 79.1 1 80.* 1 81.7 3 -86 * .2 * .0 3 .8 * -8 6 * .0 3 .9 3 .7 3 .6 3 .6 3 .7 3 .9 3 .7 3 .5 3 .6 .5 3 .5 3 .* 3 .1 2 .8 2 .6 2 .6 2 .5 2 .0 1-82 2 -82 3-82 * -82 1-83 2 -8 3 3-83 * -8 3 1 -8* 2 -8* 3 - 8* * -8* i-a s 2 -8 5 3 -8 5 * -8 3 1 -6 6 2 -66 3 -6 6 1 82.6 INITT71- (JOARTTTB P AÉPAAÉO SV « W A A L H E S E R V f - BAHIT OF T T . L O U I S MARCH 2 » 196 7 ______________________________________________ OUT PUT PER HOUR OF ALL PERSONS» B U S I N E S S S ECT OR __________ COWPOUNOCO ANNUAL RAT E S O f CHANCE__________ T ERMI NAL____________________________________________________ ____________________ I N I T I A L QUARTER_______________________ _______________________________________________ 19 7 7 « 100 QUARTER 1-86 2-86 3-86 3-65 *-85 2-65 *-8* 1- 85 *-83 1—8* 2-8* 3-8* 2-83 3-83 *-82 1-83 1-82 2- 82 3-82 2-82 1.6 3-82 1.0 100.2 100.3 0.* 101.0 *-82 1.6 1.6 2.8 1-83 2. 1 2.3 3.2 3.6 2-83 3.0 3.3 *.3 5.0 101.9 103.5 6.* 103.0 3-83 2. 1 2.2 2.7 2.6 2.2 *-83 2.3 2.* 2.8 2.8 2.5 -1.9 3.1 1- 8* 2.5 2.7 3.0 3.1 2.9 3.7 3.0 3.0 2.9 3.* 3.5 2.7 2.3 2.6 2.5 2.3 2.* 2.2 l.l -0.* 103.6 10*.9 *.3 105.6 2-8* 2.5 3-8* 2.2 *-8* 2.0 2.3 2.2 2.0 1.3 1.9 1.6 0.8 -0.2 0.0 105.5 105.5 1 05.7 1-85 1.9 2.1 2.0 1.8 1*2 1.7 1.5 0.8 0.1 0.* 0.8 2-85 2.0 2.2 2.1 1.9 I.* 1.9 1.7 1.1 0.8 l.l 1.7 2.7 3-85 2.1 2.1 2.3 2.2 2.1 2.1 1.9 1.5 1.3 1.7 2.3 3.1 3.* *-85 1.7 1.7 1.8 1.8 1.6 1. 1 1.5 1.2 0.8 0.5 0.7 0.9 0.9 0.0 -3.3 1-86 1.8 1.8 1.9 1.9 1.7 1.3 1.6 1.5 1.1 0.9 l.l 1.* 1.5 1.1 0.0 3.* 2-86 1.7 1.7 1.8 1.8 1.6 1.2 1.5 I.* l.l 0.8 1.0 1.2 1.3 0.9 0.1 1.9 3-86 1.6 1.6 1.7 1.6 1.5 l.l 1.* 1.2 0.9 0.7 0.8 1.0 1.0 0.7 0.0 1.1 0.0 -0.* *- 86 1.* I.* 1.* I.* 1.2 1.1 0.9 0.6 0.* 0.5 0.5 0.5 0.1 -0.5 0.2 -0.9 -1.5 1-82 2-82 3- 82 *-82 1-83 3- 63 *-83 1-6* 2-8* 3-8* *-8* 1- 85 2-65 3-65 *-65 1-66 2-83 106.* 107.3 106.* 10T.3 0.* 107.* 107.3 -2.6 106.6 ^ * 6 pRgfrAfgft * r r e o g f t A t ftg g i v g S A w r o r s t . l o u i s MARCH 2 » 190 7 ______________________________________________ 10 PRODUCTIV ITY, C O M P E N S A T I ON , RATI O SCALE 1977-100 1979 AND L ABOR C O S T S RATIO SEASONALLY 1980 1981 1982 ADJ UST ED 1983 19 8 4 1985 S OU R CE i PERCENTAG ES LAT EST ARE ANNUAL DATA P L O T T E D : RATES OF CHANCE FOft P E R I O D S U.S . 1986 SCALE 1977-100 1987 D E P A RT ME N T of labor ST. LOUIS IN DI CAT ED. 4TH QUARTE R P RE P A R E D U N IT LABOR C O S T S t BY F E D E R A L B U S IN ES S ___________ cowpwarep AWWAL SATES fff TEMHffAL_________________________________________________________INITIAL RES ERV E SECTOR BANK OF ____________ ________________________________________________________ 1 9 7 7 * 1 0 0 QUARTER 1-82 2-82 3-82 *-82 1-83 2-83 3-83 *-83 1-8* 2-8* 3-8* *-6* 1-85 2-85 3— 85 *-85 1-86 2-86 3-86 5.* 153.5 3-82 6.3 7.2 156.2 *-82 *♦7 *.3 2-82 156.8 1.5 rt 00 • 156.6 3*5 2.9 0.8 0.0 2-83 2.1 1.3 -0.6 -1.7 -3.3 3-83 2.3 1.7 0.* 0.0 0.0 3.* *-83 2.3 1.8 0.8 0.6 0.8 2.8 2.3 1- 8% 2.2 1.7 0.9 0.7 0.9 2.3 1.8 1.3 2.0 1.6 0.8 0.6 0.8 1.8 1.3 0.8 2-8* 155.5 156*8 1 57*7 158.2 158.3 0.3 160.2 3-8* 2.3 1.9 1.3 1.2 1.* 2.* 2.2 2.1 2.5 *.9 *-8% 2.* 2.1 1.5 1.6 1.8 2.6 2.5 2.5 3.0 *.3 3.8 1-85 2.5 2.2 1.7 1.8 2.0 2.8 2.7 2.7 3.1 4.1 3.7 3.5 2.2 1.8 1.8 2.0 2.7 2.6 2.6 2.9 3.6 3.2 2.9 161.7 163.1 16*.0 CD 1 2.2 2.5 3-85 2.* 2.1 1.7 1.7 1.9 2.5 2.* 2.* 2.6 3. 1 2.6 2.2 1.6 1.0 *-85 2.7 2.5 2. 1 2.2 2.* 3.0 2.9 3.0 3.2 3.8 3.5 3.5 3.* *.1 7.2 -0.7 16*.* 167.3 167.0 1-86 2.5 2.3 1.9 2.0 2.1 2.6 2*6 2.6 2.7 3.1 2.8 2.6 2.* 2.* 3.2 2-86 2.5 2.3 2.0 2.0 2.1 2.6 2.5 2.6 2.7 3.0 2.8 2.6 2.* 2.* 2*9 0.8 2.* 3-86 2.5 2.3 2.0 2.1 2.2 2.7 2.6 2.6 2.7 3.0 2.8 2.7 2.5 2.6 3.0 1.6 2 *8 3.1 2.9 3.0 3.* 2.5 3 *5 *.l 5.1 1-05 2-85 5-85 *-«5 1-86 2-86 3-06 *-86 2.6 2.5 2.2 2.3 2.* 2.8 2.8 2.8 3.0 3.2 3.0 3.0 1-82 2-82 3-62 *-82 1-83 2-83 3-83 *-83 1-8* 2-8* 3-8* *-e* 168.0 169.3 171.* IN IT IA I ÛUAATER- PftÉPARÈD 0 r FED ER A L RESfcRVE BAfttt O F VT . L D ill 3 MARCH 2 « 1987___________________________________________ 11 CROSS NATIONAL PROOUCT IN CURRENT DOLLARS COttPOUNOEP ANNUAL RATES O f CHANCE_______ BILL I DM3 DF INITIAL T E RM I N A L QUARTER ______________ 1 ~ 6 2 QUARTER OOLLARS ' 2 — 82 3-82 4-62 1-83 2-83 3-63 *-83 1-8% 2-84 3-6» 4-8* 1-85 2-65 >-65 *-<5 1-66 2-66 AJWUAL RÄT E S 5 - 8 6 ____________________ 6.2 3*159*5 3.% 4.2 4.5 5.5 9*0 8.5 1-8? 13.0 3,367.% 3,443.9 8.3 9.7 11.2 10.% 11.6 10.9 12.% 10.I 11.3 12.% 12.2 13.6 1%.9 3,545.8 3,670.9 9.8 10.7 11.5 11.2 1 1.8 11.5 8 .2 9.3 10.1 10.6 10.I 10.3 9.7 7.1 7.9 7.2 3«265.8 9.9 9.1 8 . 1 ____ 8 * 6 7.2 3*212.5 9*1 8.2 7.5 6.9 7*1 2-82 3-8 2 4-82 1-83 2-83 3-83 %-83 3,743.6 6.1 5.5 %.9 6.5 5.9 5.9 3,645.6 6.% 5.9 5.8 6.3 6.1 6.1 6.5 6.3 6.0 6.0 6.3 6.3 6.1 5.9 5.6 5.5 5.6 5.7 5.6 5.7 3,909.3 6.8 6.3 3,965.0 4,030.5 6.3 6.3 5.8 6.1 5.6 4,149.2 5.5 4.3 4,175.6 5.2 4,240.7 4,256.7 5 *5 5*3 5.2 5.2 5.0 4.9 4.5 4.2 1 - 8% 2-8% 3-8% 4-84 1-85 2-85 i-85 4-65 — 2-S6 5-86 ------INITIAL QUARTER-------------------------------------------------------------- P R E P A R E D B Y F E D E R A L R E S t R V E S A N* Ui - 5 l . L U U l i HA R C H 1 6 , 1 9 6 7 ________________________________________________ GROSS N A T I O N A L P R O D U C T I N C OMPOUNDED A N N U A L R A T E S 1982 DOLLARS OF CHANf cE “BinnöHSTGF ■ IHM INITIAL QUARTER 2-82 3-92 4-82 1-83 2-83 3-83 4-83 1-84 2-8 4 3-64 4-84 1-85 2-65 4-85 7 1-92 CD QUARTER 1 -6 6 2 -6 6 DOLLARS " ANNUAL R A T E S 3-86 3,179.9 2-82 1.2 3-82 -1.0 -3.2 %-82 -0.5 -1.3 0.6 1-83 0.5 0.3 2.0 3.5 2-83 2.2 2.5 4.4 6.4 9.3 3,154.5 3,159.3 3,166.6 3,256.3 3,306.4 3-83 2.8 3.2 4.8 6.3 7.7 6.0 %-83 3.5 3.8 5.3 6.5 7.5 6.7 7.3 1-8% %.2 % •7 6.0 7.2 8.1 7.7 8.5 9.8 2-8% %. 3 4.7 5.9 6.8 7.5 7.0 7.% 7.% 3,365.1 3,444.7 3,467.1 5.0 3,507.4 3-8% 4.1 4.5 5.4 6.2 6.6 6.1 6.1 5.7 3.7 2.3 %- 8% 3*9 4.2 5.0 5.6 5.9 5.3 5.1 %•6 2.9 1.9 1.5 1-85 3.8 4.1 4.8 5.3 5.5 5.0 %. 8 4.3 3.0 2.3 2.3 3.1 2-85 3.7 3.9 4.6 5.0 5.1 4.6 4.4 4.0 2 .6 2.3 2.3 2.7 2.3 3-85 3.7 3.9 4.5 4.9 5.0 4.6 4.4 4.0 3*1 2.7 2.7 3.2 3.2 3,520.4 3,547.0 3,567.6 4.1 3,603.6 3,622.3 %-85 3.6 3.8 4.3 4.7 4.8 4.3 4.1 3.8 2.9 2 .6 2 .6 2.9 2 .8 3.1 2 .1 1-86 3.6 3.8 4.3 4.6 4.7 4.3 4.1 3.8 3.0 2.7 2.6 3. 1 3.1 3.3 2.9 3.8 2-86 3.% 3.6 4.1 4.3 4.4 4.0 3.8 3.4 2.7 2.5 2.5 2.7 2 .6 2 .6 2 .1 2 .2 0 . 6 2.5 2.5 2.7 2 .6 2.7 2.3 2.4 1.7 2 .6 1.5 1.9 3-86 3.% 3.5 4.0 4.2 4.3 3.9 3.7 3.4 2.7 %-86 3.3 3.4 3.8 4.0 4.0 3.7 3.5 3.2 2 .6 2.4 2.4 2.5 2.4 2.4 2 .0 2 .0 1-82 2-82 3-82 4-82 1-83 2-83 3-63 4-83 1-84 2-84 3-84 4-84 1-65 2-65 3-85 4-** 3,655.9 3,661.4 3,666.4 1 .1 3,696.1 WCPAftEö BY FEWftAl ftEffKVfBAHK OF 51 . L W I V NARCH 12 16, 1 9 6 7 ___________________________________________________ GROSS RATIO SCALE T R I L L I O N S OF N AT I ON AL QUARTERLY DOLLARS 4 . PRODUCT TOTALS AT ANNUAL RATIO SCALE T R I L L I O N S OF D O L L A R S RATES S E AS ONALLY ADJUS TED 4 . 6 4 . 4 4.2 4.0 3 . 3 . 8 3 . 3 . 6 3 . 2. 3 . 4 3 . 2 3 . 0 4 . 4 4 . 2 4 . 0 3 . 8 3 . 6 3 . 4 3 . 2 3 . 0 2.8 2.6 1 9 7 9 1 9 8 0 1 9 8 1 1 9 8 2 1 9 8 3 1 9 8 4 S OU R C E : PERCENTAGES LATEST ARE ANNUAL DATA P L O T T E D : R A T E S OF CHANGE FOR P E R I O D S 1 9 8 5 U.S. 1 9 8 6 DEPARTMENT 1 9 8 7 OF COMMERCE INDICATED. 4TH QUARTER P R EP A R ED 13 BY F E D E R A L RESERVE BANK OF S T. LOUIS GENERAL RATIO PRICE INDEX* SCALE RATIO 1982-100 1982-100 197 9 *AS USED 1980 IN NATI ONAL 1981 1982 1983 1984 INCOME ACCOUNTS DATA PLOTTED» 1985 SOURCE; PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERI OOS LATEST SCALE U.S. 1986 1987 DEPARTMENT OF COMMERCE I ND I C AT E D. 4TH OUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . L OUI S I M P L I C I T PR I CE DEFLAT OR FOR CROSS N A T I O N A L PROOUCT _________________________________ COMPOUNDED ANNUAL RAT ES Of CHANCE__________________________________ T E R MI N A L ________________________________ ________________________________________ I N I T I A L QUARTER_______________________________________________________________________ 1982 OUARTER 1-86 2-86 3-86 4-85 2-85 3-85 4-6J 1-83 4-84 1-85 1-84 2-84 3-83 3-84 1-82 2-83 2-82 3-82 4-82 99.4 2-82 5.0 3-82 5.4 5.8 4-82 4.8 4.7 100.8 3.6 101.7 102.5 1-83 4*4 4.2 3.4 3.2 2-83 4.1 3.9 3.3 3.2 3.2 3-83 4.0 3.8 3.4 3.3 3.3 3.5 4-83 4.1 4.0 3.6 3.6 3.8 4.1 4.7 1-84 4.2 4.1 3.8 3.8 4.0 4.3 4.7 4.6 2-84 4.1 3.9 3.7 3.7 3.8 4.0 4.1 3.8 3.0 4.0 3.9 3.9 3.9 3.7 3.2 3.4 4-84 3.9 1-85 3.9 2-85 3.9 3-84 100 103.3 104.2 105.4 106.6 107.4 108.3 3.7 3.7 3.8 3.6 3.6 3.7 3.8 3.8 3.6 3*3 3.4 3.4 3.8 3.6 3.6 3.7 3.8 3.8 3.6 3.4 3.5 3.5 3.7 3.6 3.7 3.7 3.6 3.4 3.4 3.5 3.5 3.3 3.8 3.6 3*6 3.7 109.2 110*2 lll.l 111.8 3-85 3.8 3.7 3.5 3.5 3.5 3.6 3.6 3.4 3.2 3.3 3.2 3.2 2.9 2.5 4-85 3.8 3.7 3.5 3.5 3.5 3.6 3.6 3.5 3.3 3.3 3.3 3.3 3.2 3.1 3.6 1-86 3.7 3.6 3.4 3.4 3.5 3.5 3.5 3.3 3.2 3.2 3.0 2.9 3.1 2.5 3.2 3.1 112.8 113.5 114.0 2-86 3.6 3.5 3.3 3.3 3.3 3.3 3.3 3.2 3.0 3.0 3.0 2.9 2.7 2.6 2.6 2.1 1.8 3-86 3.6 3.5 3.3 3.3 3.3 3.4 3.3 3.2 3. 1 3.1 3.0 3.0 2.9 2.8 2.9 2.6 2.7 3.6 4-86 3.4 3.3 3.2 3.2 3.2 3.2 3.1 3.0 2.9 2.8 2.8 2.7 2.6 2.4 2.4 2.1 2.0 2.1 0.7 1-82 ¿-02 3-Ô2 4-82 1-83 2-63 3-S3 4-83 1-84 2-84 3-84 4-84 1-85 2 -8 5 3 -8 5 4 -8 5 1-86 Z— 86 3-86 IN ITIAL 115.0 115.2 U U A K 1ER PREPARED BY' FEDERAL RESERVE BANK OF S I . LUU1S MARCH 16» 14 1 9 8 7 _________________________________ PERSONAL CONSUMPTION EXPENDITURES IN CURRENT DOLLARS ____________ COMPQUNOEP ANNUAL RATES OF C H A N C E _________ INITIAL BILLI flHS W DOLLARS ANNUAL R A f t S QUARTER QUARTER 1-82 2-82 2-82 3-8 2 4-82 1-83 2-83 3-83 4-83 1-84 2-84 3-84 _ 4-84 1—85 3-85 4-85 1-86 2-86 3-86 2,023.8 2,065.6 3-82 T.l 9.5 4-82 8.1 9.4 10.3 1-83 7.5 8.2 8.0 2-83 8.6 9.3 9.6 3-83 8.7 9.3 9.5 4-83 8.9 9.4 9.6 1-84 8.8 9.3 2-84 8.9 3-84 8.5 2,117.0 5.7 2,146.6 9.3 2,213.0 13.0 1 1.1 2,262.8 9.3 2,315.8 10.6 9.7 9.4 10.1 9.1 8.6 9.3 9.4 9.9 9.1 8.8 9*1 8.8 8.8 9.1 8.1 7.5 7.0 9.4 8.3 2,363.8 2,416.1 5.0 2,445.6 2,487.2 4-84 8.3 8.6 8.6 8.8 7.9 7.4 7.0 6.0 1-85 8.2 8.5 8.5 8.6 7.8 7.4 7.1 6.4 7.1 7.2 2-85 8.2 8.4 8.4 8.4 7.7 7.4 7.1 6.6 7.2 7.3 7.3 3-85 8.2 8.4 8.3 8.4 7.7 7.5 7.3 6.9 7.4 7.6 7.7 4-85 8.0 8.2 8.2 1-86 7.8 8.0 7.9 2-86 2-85 5.6 7.7 7.8 8.4 7.9 7.9 7.7 7.7 2,530.9 2,576.0 8.2 2,627.1 2,667.9 7.6 7.3 7.2 6.8 7.2 7.3 7.3 7.3 7.5 7.3 7.0 6.8 6.5 6.8 6.7 6.6 6.4 5.5 4.6 7.3 7.1 6.8 6.6 6.3 6.5 6.5 6.3 6.1 5.4 4.9 8.2 7.7 7.0 6.4 2,697.9 5.2 2,732.0 2,799.8 3-86 7.8 7.9 7.9 7.7 7.9 7.5 7.4 7.1 7.0 6.8 7.0 7.0 7.0 6.9 6.6 6.6 7.7 10.3 4-86 7.5 7.7 7.6 7.4 7.6 7.2 7.0 6.8 6.6 6.4 6.5 6.5 6.4 6.2 5.8 5.7 6.1 6.6 3.0 1-82 2-62 3-62 4-62 1-83 2-63 3-63 4-83 1-64 2-84 3-64 4-84 1-85 2 —85 3-85 4-85 1-86 Z-B6 3-86 2,820.4 I NIT IAL" QUART ER PREPARED B V F E D E R A L RESERVE U U H R OF S I * L U U I S MARCH 1 8 , 1 987_____________________________________________ PERSONAL CONSUMPT I ON E XP E ND I T U RE S I N 1982 DOLLARS ____________COMPOUNDED ANNUAL RAT ES OF C H A N C E _________ T ERMI NAL QUARTER INITIAL I -82 2-82 3-82 4-82 1-83 2-83 3-83 4-83 1-84 B I L L T U N S C* DOLLARS ANNUAL r a i t s (QUARTER 2-84 3-84 4-84 1-85 2-85 3-85 4-85 1-86 2-86 3-86 2,041.0 2-82 3-82 2.1 4-82 3.7 2,051.8 2,078.7 5.3 1-83 3.5 2-83 4.6 3-83 4.8 4-83 4.9 1-84 4.8 2-84 4.9 5.3 3-84 4.5 4.8 2,094.2 3.0 8.0 5.4 5.4 6.7 2,135.1 2,163.0 5.3 2,191.9 6.3 5.5 5.7 4.8 4.1 5.3 5.8 5.2 5.0 6.0 4.7 5.0 4.4 4.2 3.8 3.6 5.4 2,213.8 2,246.3 1.3 2,253.3 4-94 4.4 4.6 4.8 4.2 4.0 3.6 3.5 2.3 3.3 1-85 4.3 4.5 4.4 4.6 4.1 3.9 3.6 3.5 2.7 3.5 3.7 2-85 4.2 4.4 4.3 4.5 4.1 3.9 3.6 3.5 2.9 3.5 3.6 3.5 3-85 4.3 4.5 4.4 4.6 4.2 4.1 3.9 3.8 3.4 3.9 4.1 4.4 5.3 4-85 4.1 4.3 4.3 3.9 3.8 3.6 3.5 3.1 3.5 3.5 3.5 3.5 1.7 3.5 2.6 3.6 1-86 4.1 4*2 2-86 4.2 4.4 3-86 4.4 4-86 4.1 1- 8 2 2-82 3-82 4.2 3.9 3.8 4.3 4.4 4.1 4.0 4.5 4.6 4.3 4.2 4.1 4.2 3.9 3.7 3.7 4-82 1-83 3-83 4-83 1-84 2-83 3.6 3.5 3.2 3.8 3.8 4.1 4.1 2,271.7 2,292.3 3.5 2,311.9 2,342.0 2,351.7 2,372.7 3.5 3.5 3.5 3.9 4.0 4.0 4.2 3.8 4.9 6.2 3.9 4.2 4.4 4.5 4.7 4.5 5.5 6.4 6.7 3.5 3.7 3.8 3.8 3.8 3.5 4.0 4.1 3.1 -0.4 2-84 3-64 4-64 1-65 2-95 3-85 4-85 1-86 2-86 3-86 2,408.4 2,448.0 2,445.8 INITIAL WJATTEF PREPARED BT FEDERAL RESERVE BAWT UF 11 » L U U I5 MARCH 18, 1987_______ __ _______________________ 15 ' CROSS PRIVATE DOMESTIC INVESTMENT IN CURRENT DOLLARS IN ITIAL T ERMI NAL QUARTER 1-8? 2-82 7.* 3-82 -3.2 *-82 2-62 3-82 *-82 1-83 2-83 1-8* _ 3-e* *-8* 1-85 3-85 *-85 1-86 2-86 3-86 *52.2 *09.6 -32.7 *28.3 1-83 —6 . 8 -1 1.1 3.8 2.9 8.7 38.1 59.5 8.8 1 * •9 37.* *7.2 35.9 -10. 3 19.6 *81.3 519.7 579.8 *-83 1 * •2 15.* 22.0 *1.6 *9.8 *5.1 5*.9 1-8* 19.8 21.7 28.6 *6.* 5* . 0 52.2 61.0 67.* 2-8* 17.3 18.6 23.8 37.1 *0.9 36.6 36.8 28.6 -1.2 3-8* 16.3 17.3 21.8 32.5 3*.8 30.3 29.0 21.3 3.3 *-8* l*.l I*.8 18.* 27.0 28.2 23.6 21.2 1*.0 0.3 l.l -5.* 1-85 12.3 12.7 15.7 22.8 23.2 18.8 16.2 9.7 -1.3 -i.* -5.8 -6.2 1.5 -0.6 1.8 10.5 12.2 12.6 15.2 21.5 3-85 10.8 11.0 13.3 18.8 *-85 10.6 10.8 12.8 17.8 2-85 2-85 *67.8 - I * . 2 -23.3 8.6 *-83 -12.7 2-83 3-83 3-83 B I L L I O N S OF DOLLARS a n n u a l RATES QUARTER 659.5 657.5 670.3 8.0 661.1 650.6 667.1 17.7 15.3 9.8 0.9 18.7 1 *• 9 12.5 7.* -0.2 0.0 -1.9 -0.7 2.1 -5.7 17.6 l*.l 11.9 7.5 0.9 1.2 -0. 1 1.3 3.9 0.7 7.6 *.3 3.7 5.7 8.9 8.3 16.1 25.3 21.8 657.* 669.5 708.3 18.* 18.3 15.1 13.2 9.3 3.6 11.8 15.9 15.7 12.6 10.7 7.0 1.9 2.2 I.* 2.6 *.5 3.0 6.1 5.* -11.3 10.6 I* .3 13.9 11.0 9.1 5.7 1.0 1.2 0.* 1.3 2.6 1.0 2.8 1.3 -9.0 -6.5 9.* 12.8 12.* 9.6 7.8 *.6 0.2 0.3 -0.5 0.2 1.1 —0 . * 0.7 -0.9 -8.* -6 .9 -7.3 3-82 *-82 1-83 2-83 3-83 *-83 1-8* 2-8* 3-8* *-8* 1-85 2-85 i-85 *-85 1-86 2-86 3-86 1-86 11.* 11.7 13.7 2-86 9.9 10.1 3-86 9.0 9.0 *-86 8.0 8.1 1-82 2-82 687.3 6 75.8 663.2 K É ^A ftÉ O 6V FÉ6ERAL RESERVE BAM* OF S T . C O U I S MARCH 1 8» 1 987______________________________________________ CROSS P R I V A T E DOMEST I C I N VE S T ME N T I N 1982 DOLLARS _______ COMPOUNDED ANNUAL RAT E S OF CHANCE__________________ B IL L IO N S OF .I N I T I A L DOLLARS QUARTER 1-82 2-82 3-82 *-82 1-83 2-83 3-83 2.9 3-82 -6.6 -15.2 *-82 - 15.6 -23.5 -31.0 2-8* 3-8* *-8* 1-85 2-85 *-85 1-86 3-86 **8.6 *08.8 *27.1 -11.* -9.* 19.1 2-83 3.9 *.1 11.5 *1.9 68.9 3-83 8.5 9.7 17.0 39.5 51.0 35.0 *-83 13.3 15.1 22.3 *1.2 *9.* *0.5 *6.3 - 8 . 0 1-8* 2-86 *67.5 2-82 1-83 *-83 V** 1 Q» V» RATES QUARTER *86.9 52*.8 5 77.2 6*9.3 1-8* 18.3 20.6 28.0 **.8 52.0 *6.8 53.1 60.1 2-8* 16.1 17.9 23.6 36.2 39.9 33.* 32.9 26.7 0 .2 3-8* 15.0 16.5 21.2 31.* 33.5 27.* 25.6 19.3 3.0 6*9.7 658.9 5.8 6*9.9 17.9 26.1 27.1 21.2 18.7 12.6 0.1 0.1 -5.* 12.0 15.1 21.9 22.2 16.7 13.9 8.* -1.7 -2.* -6.2 -7.0 2-85 11.2 11.9 1 *• 8 20.8 21.0 16.0 13.6 8.9 0*8 0.9 -0.7 1.8 - 0 . 6 638.2 655.6 11.* 6*3.8 10.3 12.8 18.0 17.8 13.2 10.8 6 .* -0.7 -2.3 -1.2 1.8 -7.0 9.5 10.0 12.3 16.9 16.7 12.5 10.2 6.* 0.3 0.* -0.7 0.5 3.1 -0.7 6.0 1-86 10.2 10.7 12.8 17.2 17.0 13.2 11.2 7.8 2.6 3.0 2.5 *.2 7.2 5.8 12.9 * .* Cl 9.8 w> CO 1 l* .l 11.2 ir> 13.0 1-85 00 • *-8* 653.2 68*.0 20.2 66 * . 7 3 *6 - 1 0 . 8 2-86 8.8 9.2 11.1 I*.9 1* . 6 10.9 9.0 5.8 1.0 1.1 0.5 1.5 3.3 1.* 3-86 7.8 8.1 9.8 13.2 12.8 9.* 7.5 *.5 0.1 0.1 -0.6 0.1 1.* -0 .5 1.2 —0 . * -9.3 -7.8 *-86 6.6 6.8 8.3 11.* 10.9 7.6 5.7 2.9 -1.1 -1.3 -2.0 -1.6 -0.8 -2.7 -1.8 -3.7 -10.6 -10.5 -13.0 1-82 2-82 3-82 *-82 1-83 ¿-8* *-83 1-8 * 2-8* i-é* * -8 * 1-85 2 -8 5 3— 85 * -8 5 i-8 6 2 -8 6 3-86 *-8 * 651.3 629.0 W E P A A E D B Y T E D E R A L RESERVE B A M OF 5 T . U U U rS “ MARCH 18» 1987__________________________________________ 16 GOVERNMENT PURCHASES OF COODS A NO SERVICES IN CURRENT DOLLARS _______________________________________________________________________ COMPQUNOEO ANNUAL R ATES OF CHANCE_________________________________________________________________________ -------- T ERMI NAL quarter 2-82 “ 1-82 2-82 S I L L I O N S TJF I N I T I A L QUARTER ~ -----------------------------------------------------------------------------------------------------------------------3-83 3-82 *-82 1-83 2-83 *-83 1-8* 2-8* 3-8* DOLLARS ANNUAL RATE'S *-8* 1-85 2-85 3-85 *-85 1-86 2-86 3-86 2*3 6 25.7 6*7.1 3-82 8.2 1*.* *-82 10.8 15.3 16.2 1-83 7.* 9.1 6.6 2-83 6*8 7.9 3-83 6.2 7.0 *-83 *.9 5.3 1-8* 5.6 2-8* 7.6 671.8 -2.2 668.1 5.8 1.0 *.3 675.2 5.2 1.8 3.8 3.3 3.6 0.6 1.6 0.3 -2.7 6.0 *.7 2.5 3.8 3.6 3.7 10.5 8.3 7.* 6.0 7.7 8.6 10.* 17.6 25.2 680.7 676.1 693.2 733.3 3-8* 7.* 8.0 7.2 6.0 7.* 8.0 9.3 13.6 15.1 5.9 *-8* 7.7 8.3 7.6 6.6 7.9 8.5 9.6 12.9 13.7 8.* 7*3.8 11.0 763.* 777.3 1-85 7.7 8.2 7.6 6.7 7.9 8.* 9.3 11.8 12.1 8.1 9.2 7.5 2-85 8.0 8.5 8.0 7.2 8.3 8.8 9.6 11.8 1Z.0 9.0 10.0 9.5 11.6 3-85 8.6 9.1 8.6 8.0 9.1 9.6 10.* 12.* 12.7 10.* 11.5 11.7 13.9 799.0 16.3 829.7 855.6 *-85 8.9 9.* 9.0 8.* 9.* 9.9 10.7 12.5 12.8 10.8 11.9 12.1 13.7 I*.7 1-86 7.7 8.1 7.6 7.0 7.8 8.1 8.6 9.9 9.9 7.8 8.2 7.6 7.6 6.3 13.1 1.7 -8.5 2-86 7.9 8.3 7.9 7.3 8.1 8.* 8.9 10.1 10.1 8.3 8.7 8.3 8.5 7.7 5.0 1.2 12.0 9.8 9.7 8.1 8.* 8.0 8.1 7.* 5.3 2.9 9.1 6.3 836.7 860.8 87*.0 3-86 7.8 8.2 7.8 7.3 8.0 8.3 8.7 *-86 7.7 8.0 7.7 7.1 7.8 8.0 8.* 9.* 9.3 7.8 8.0 7.7 7.7 7.1 5.3 3.5 7.8 5.8 5.3 1-82 2-6* 3-62 *-62 1-83 2-83 3-83 *-83 1-8* 2-8* 3-8* *-0* 1-85 2-85 5-85 *-B5 1-86 Z —86 3-86 885.3 INITIAL QUARTER PREPARED BT~FETJERAL RESiRVfc BANK UH S T . LO U IS NARCH 1 St 1987__________________________________________ GOVERNMENT PURCHASES Of GOODS ANO S E R V I C E S I N COMPOUNDED ANNUAL RAT ES OF CHANCE 1982 DOLLARS S T I L T O N S OF T ERMI NAL ________________________________________________________________________ I N I T I A L QUARTER_______________________________________________________________________ POL LARS ANNUAL RAT E S QUARTER 2-86 3-86 3-8* *-8* 1-85 1-86 1-82 *-82 1-83 2-83 1-8* 3-85 *-85 2-82 3-82 3-83 *- 83 2-85 ?-8* 2-82 629.7 -3.1 3-82 2.5 8.* *- 82 5.* 9.9 11.* 1-83 2.3 *.2 2. 1 -6.* 6 *2. 5 660.1 6*9.2 650.9 2- 83 2.0 3.* 1.7 -2.8 1.1 3-83 2.0 3.0 1.7 -1.3 1.* 1.7 *-83 0.7 1.3 0.0 -2.7 -1.* -2.7 -6.8 653.6 6*2.2 1-8* 1.2 1.8 0.8 -1.2 0.2 -0.1 -1.0 5.1 2-8* 3.0 3.8 3. 1 1.8 3.6 * .2 5.0 11.5 18.* 650.2 3- 8* 2.9 3.5 3.0 1.8 3.2 3.7 *.2 8.1 9.7 1.7 *- 8* 3.2 3.8 3.3 2.* 3.7 *.i *.6 7.7 8.6 *.0 6.3 1-85 3.1 3.7 3.2 2.3 3.5 3.8 *.2 6.6 6.9 3.* *.2 2.2 2-85 3.* *.0 3.6 2.9 3.9 *.3 *.7 6.7 7.1 *.* 5.* *.9 7.7 678.2 681.0 6 91. 5 695.3 708.3 731.8 3-85 *.2 *.7 *.* 3.8 *.9 5.3 5.8 7.7 8.2 6.3 7.5 7.8 10.8 13.9 *-85 *.5 5.1 *.8 *.3 5.* 5.8 6.3 8.0 8.5 6.9 8.0 8.* 10.5 11.9 10.0 1- 86 3.* 3.8 3.5 2.9 3.8 *.0 *.2 5.6 5.6 3.9 *.3 3.9 *.3 3.2 -1.8 -12.3 2-86 3.8 *.2 3.9 3.* *.2 *.5 *.7 6.0 6. 1 *.6 5.0 *.8 5.* h •8 1.9 -1.9 9.7 7*9.* 725.2 7 *2.2 3-86 3.8 *.2 *.0 3.5 *.2 *.5 *.7 5.8 5.9 *.6 5.0 *.8 5.2 *.7 2.5 0.2 7.1 *.5 *-86 *.l *.6 *.3 3.9 *.6 *.9 5.1 6.2 6.3 5.2 5.6 5.5 5.9 5.7 *.1 2.7 8.2 7.* 10.5 1-82 2-82 3- 82 *-82 1-83 2- 83 3-63 *-83 i-84 2-84 3-8* *-8* 1-85 2 —8 5 3-85 *-85 1-86 2-86 3-86 750.* 769.3 I N H 1 AL O U A IU b K PREPARED BT FEDERAL RESEffVE~BAW*, U K ~ST . LUU1S MARCH 18» 1987 _______________ 17 DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES Of CHANCE_________ INITIAL TERMINAL QUARTER 1-82 2-82 3-82 *-82 1-03 2-83 3-03 *-83 2-8* 3-8* 4-8* 1-85 2-85 3-85 6.* 3-82 6.6 6.7 *-8? 6.8 6.9 7. 1 1-83 6.3 6.2 6.0 *.0 2-83 6.8 6.9 6.9 6.8 0.7 3-83 7.0 7.1 7.2 7.3 0.5 8.2 *-83 8.1 8.3 8.7 9.1 10.5 11.* I* .6 1-8* 8.8 9,1 9.6 10.0 11.* 12.3 I*.* l*.l 10.5 11.2 9.6 2*395.* 2*443.2 2*527.9 2*612.7 2 *6*6.3 5.2 8.5 8.7 9.0 9.7 9.0 10.3 0.8 6.3 7.* 8.2 8.* 8.5 9.0 9.1 9.3 0.0 6.0 6.* 5.* 8.0 8.* 0.3 8.3 7.1 5.5 5.5 *.6 3.8 8.9 9.0 8.1 7.0 7.* 7.* 8.* 13.2 3-8* 8.3 8.0 2*693.8 2*729.6 2*755.* 1-05 7.7 7.8 7.9 2-85 8.1 8.2 8.* 8.5 8.9 3-85 7.* 7.5 7.5 7.6 7.0 7.7 7.7 6.7 5.5 5.6 5.1 5.0 5.6 -I.* 7.5 7.5 7.8 7.7 7.6 6.8 5.8 5.9 5.6 5.6 6.2 2.8 7.3 7.* 7.* 3-86 2*318.1 10.1 *-8* 1-86 2-86 2*3*5.7 9.2 8.6 7. * 1-86 2»278.6 0.9 8.<t *-85 *-85 2*2*1.8 2-8? ?-8* 1-8* B 7 U L I 0 N S □»OOLLARS a WWu AL RAIfcS QUARTER 7. * 7.5 7.5 7.5 7.8 7.7 2.8*2.3 7.6 6.9 6.0 6.1 5.9 6 *0 6.5 *.* 2*832.0 2*882.2 2*935.1 7*5 2*978.5 2-86 7.3 7.* 7.* 7.* 7.6 7.5 7.5 6.8 6.0 6.1 5.9 6.0 6.* *.8 7.0 6.8 6.0 3-86 6.9 6.9 6.9 6.9 7.1 6.9 6.0 6.2 5.* 5.* 5.2 5.1 5.* 3.9 5.2 *.5 3.1 0.2 5.1 5.0 *.8 *.7 *.8 3.5 *.5 3.8 2.6 1.0 1.8 I ~8* 2-8* 3-8* 4-84 1-85 2-85 3-85 *-85 1-86 2-86 3-86 *-86 6.6 6.6 6.6 6.6 6.7 6.6 6.* 5.8 1-8? 2-82 3-82 *-82 1-83 2-03 3-03 *-83 2*979.9 2*993.0 INITIAL QUARTER' P R E P A R E D B V F E D E R A L R E S E R V E - BANK, U H SI * L O U I S M A R C H 1 8 » 1 9 8 7 _________________________________________ DI SPOSABL E PERSONAL I NCOME I N 1982 DOLLARS COMPOUNDED ANNUAL RAT ES Of CHANCE INITIAL TERMINAL QUARTER 1-02 2-02 3-82 *-82 1-8 3 2-83 3-83 *-83 1-3* 2-8* B I L L I CMS Uh DOLLARS ANNUAL " R A T E S QUARTER 3-8* *-8* 1-85 2-85 3-85 4-85 1-86 2-86 3-86 2*260.9 2-82 2.7 3-02 1.6 0.* *-02 1.8 1.3 2.3 1-03 1.9 1.6 2.2 2.2 2-03 2.3 2.2 2.0 3.1 2*263.4 2*276.1 2*288.4 2*311.1 *.0 2*335.4 3-03 2.6 2.6 3.2 3.5 *.1 *.3 *-03 3.7 3.0 *.5 5.1 6.1 7.2 10.2 1-0* 4.4 *.6 5.3 6.0 6.9 7.9 9.8 2*392.7 9.* 2*446.9 2*460.3 2.2 2-0* *.l *.3 *.9 5.3 6.0 6.5 7.2 5 .7 3-0* *.1 *.2 *.7 5.1 5.6 5.9 6.3 5.0 2.9 3.6 *-0* 3.9 *.0 *.* *.7 5.0 5.2 5.* *.2 2.5 2.7 1.8 1-85 3.6 3.7 *.0 *.2 *.* *.5 *.5 3.* 2.0 1.9 1.1 0.4 2-85 *.0 *.1 *.* *.7 *.9 5.1 5.2 *.* 3.* 3.7 3.7 4.7 9.1 3-05 3.* 3.5 3.7 3.0 *.0 *.0 *.0 3.1 2.1 2.1 1.7 1.7 2.3 2*481.9 2*493*1 2*495.7 2*550.8 -4.0 2*524.7 2*540.7 *-05 3.3 3.* 3.6 3.7 3.9 3.9 3.8 3.0 2.2 2.2 1.9 1.9 2.4 -0.8 2.6 1-06 3.5 3.6 3.0 3.9 *.1 *.1 *.l 3.* 2.7 2.8 2.6 2.8 3.4 1.6 4.5 6.5 2-86 3.7 3.8 *.0 *.2 *.3 *.3 *.* 3.8 3.2 3.3 3.3 3.5 4.1 2.9 5.4 6.8 2.6 2*581.2 7.1 2*625.7 2*605.5 3-86 3.* 3.* 3.6 3.7 3.8 3.8 3.7 3.1 2.5 2.6 2.5 2.9 1.7 3.2 3.4 1.9 -3.0 *-86 3.1 3.1 3.3 3.3 3.* 3.* 3.3 2.7 2.2 2.2 2.0 2.0 2.3 1.2 2.2 2.2 0.7 -2.3 -1.5 1-02 2-8 2 3-02 *-8 2 1-83 2-83 3-83 *-83 1-8* 2-8* 3— 84 4-84 1 -8 5 2 -8 5 J-85 4-85 i-8* 2 -8 4 3-86 2*595.4 P R EP A R E D BY FED ER AL RESERVE BANK O f S I . L IR J T T MARCH 1 8 » 1 9 8 7 _____________________________________________ 18 CORPORATE P(IO FI TS A FTE R TA X E S * COI^OflW PCD A HWUAL R ATES OF CHANCE TER Qu a NAL ER IN IT IA L 1 - 82 2- -1 • 8 3- -0 ,4 t- - 1- .9 ,9 2 - 82 3 -8 2 4 - 82 1 -8 3 2 -8 3 3 -8 3 1 -8 4 2 -8 4 3 -8 4 4 -8 4 1 -8 5 2 -8 5 3 -8 5 4 -8 5 1 -8 6 2 -8 6 ------------- B1LL1LW S' "OF-----------OOLLAR S APWUAL R A I t S 3— 86 1 0 7 .0 1 0 7 .3 1 1 -5 1 0 4 ,3 0 -1 0 .7 4 5 6 .2 26 4 1 1 0 ,6 2- ! ,0 18 3 2 4 .7 47 3 7 1 .7 3- 1 •8 24 7 3 1 .4 49 5 6 2 .5 5 3 ,9 4- I •9 21 6 2 6 .1 37 5 4 1 ,4 2 8 ,3 7 ,0 1- 4 -8 3 1JUAR TER 1 2 6 ,6 1 4 1 ,0 1 4 3 ,4 1 4 6 ,4 1 .7 19 6 2 3 .0 31 2 3 2 ,4 2 1 ,4 7 ,8 8 .6 1 .2 16 3 1 8 .7 24 4 2 4 .1 1 4 .4 3 .6 2 ,0 -4 ,3 3- ,8 11 2 1 2 .5 16 3 1 4 ,7 5 ,8 -3 .7 -7 ,0 -1 4 ,0 %- ,4 9 5 1 0 .4 13 4 1 1 ,6 3 ,9 -3 ,9 -6 ,5 -1 1 ,0 -1 4 .2 -4 .9 1- ,4 6 1 6 .6 8 8 6 ,7 -0 ,3 -7 ,2 -9 .8 -1 3 ,9 -1 6 .9 -1 3 .9 1 4 4 ,8 1 3 5 ,8 -2 2 .6 1 3 4 ,1 -2 2 .1 1 2 6 ,0 1 2 6 ,7 2- .2 5 8 6 .2 8 1 6 ,2 0 ,0 -5 ,9 -7 .9 -1 0 .9 -1 2 ,5 -8 .8 -1 0 .7 2 ,2 3- ,4 7 0 7 .5 9 4 7 ,8 2 ,4 -2 ,7 —4 . 0 -6 ,0 -6 .3 -1 .8 -0 .7 1 2 ,1 2 2 ,9 *2 7 9 8 .4 10 2 8 ,8 3 ,9 -0 ,5 -1 ,4 -2 ,8 -2 .5 2 .1 4 .0 1 4 ,4 2 1 .1 1 9 .2 j. •2 4 7 4 ,9 6 2 4 ,7 0 ,1 -4 .1 -5 ,3 -6 ,9 -7 .3 -4 .4 -4 .3 0 ,7 0 .2 -9 .5 -3 1 .3 •3 4 7 5 ,0 6 2 4 *8 0 ,6 -3 ,2 -4 ,2 -5 .5 -5 .7 -3 .0 -2 .7 1 .8 1 .7 -4 .6 -1 4 ,4 6 .1 3_ .3 5 8 6 .1 7 3 6 ,1 2 ,2 -1 ,2 -1 ,9 -2 ,9 -2 .8 0 .0 0 .8 5 ,2 5 .8 1 .9 -3 .3 1 4 .7 2 3 .9 ,4 6 9 7 ,2 8 4 7 ,3 3 ,8 0 ,7 0 .2 -0 ,5 -0 .2 2 .7 3 ,7 8 ,0 9 .0 6 .4 3 .4 1 8 .6 2 5 .3 2 6 ,8 1 - 82 2-112 3 -8 2 4-112 1 -8 3 2 -8 3 3 -8 3 4 -8 3 1 -8 4 2 -8 4 3 -8 4 4 -8 4 1 -8 5 Z -« 5 3 -8 5 4 —1 5 1 -8 * Z -8 6 3 -8 6 1 3 3 ,4 1 3 9 ,4 1 2 6 ,9 1 2 8 ,8 1 3 5 ,9 1 4 4 ,2 P ♦ N A TIO N A L IN CO K E B A S IS >- m i m m wr----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- ------------------------------------------------------ -------------------------------------------- ---------------------------------- FW t F W I P BT F EW WAL » « K r f HAUCH t i » PA NR OP ST » L OU I S i*rr HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA Estimates for the series in the regular quarterly presentation of NIPA tables for 1983-85 are published in the July 1986 Survey of Current Business, Estimates for NIPA series for 1929-82 are published in The National Income and Product Accounts of the United States, 1929-82: Statistical Tables, For further information and prices, write to the National Income and Wealth Division (BE-54), Bureau of Economic Analysis, U,S. Department of Commerce, Washington, D,C. 20230, 19 INVENTORIES COMPARED WI TH MONTHLY S A L E S * MANUFACTURING AND TRADE 68 .64 64 .60 60 .56 56 . 52 52 . 48 48 44 . 40 40 . 36 36 32 28 . 28 24 1973 1974 1975 * RAT I OS BASED ON S E A S O N A L L Y S HA DE D AREAS REPRESENT LATEST D ATA 1976 PLOTTED: 1977 1978 ADJUSTED PERIODS J ANUA R Y 1979 1980 1981 DATA. OF B U S I N E S S 1982 1983 S OUR C E : 1984 1985 U . S . D E P A R T ME N T 1986 1987 OF COMMERCE RECESSIONS. PRELIMINARY PREPARED 20 BY F E D E R A L RESERVE BANK OF ST. LOUIS
@FedFRASER