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n n n o n n L E c o n o m it cr e i i d s
PREPARED

MONTH ENDING :

BY

O c t o b e r 3 1 , 1971

FEDERAL

RESERVE

BANK

OF

ST. LOUIS

RELEASED:

N o ve m b e r 2 3 , 1971

E c o n o m ic a c t i v i t y c o n t i n u e d t o a d v a n c e a t a m o d e r a t e p a c e
i n th e t h i r d q u a r t e r .
T o t a l s p e n d in g ro se a t a 7 p e r c e n t a n n u a l
r a t e fr o m th e s e c o n d t o th e t h i r d q u a r t e r o f 1 9 7 1 , co m p a re d w i t h
a 7.7 p e r c e n t i n c r e a s e i n th e p r e v i o u s y e a r .
F in a l s a le s , th a t
i s t o t a l s p e n d i n g a d j u s t e d f o r c h a n g e s i n th e r a t e o f i n v e n t o r y
a c c u m u la t io n , i n c r e a s e d a t an 8.9 p e r c e n t r a t e fro m th e s e c o n d
t o th e t h i r d q u a r t e r o f 1 9 7 1 .
R e a l p r o d u c t r o s e a t a 3.9 p e r c e n t
a n n u a l r a t e fro m th e s e c o n d t o th e t h i r d q u a r t e r o f 1 9 7 1 , co m p a re d
w i t h a 2.4 p e r c e n t i n c r e a s e i n th e p r e v i o u s y e a r .
The m o s t r a p i d i n c r e a s e s i n t o t a l s p e n d i n g s i n c e e a r l y
t h i s y e a r h a v e b e e n i n th e p r i v a t e s e c t o r o f th e e con om y.
S in c e
th e f i r s t q u a r t e r o f 1 9 7 1 , p e r s o n a l c o n s u m p t io n e x p e n d i t u r e s h a v e
i n c r e a s e d a t an 8 . 8 p e r c e n t a n n u a l r a t e , c o m p a re d t o a 6.7 p e r
c e n t i n c r e a s e i n th e p r e v i o u s y e a r .
G r o s s p r iv a t e d o m e s tic i n v e s t ­
m ent h a s i n c r e a s e d a t a 14.1 p e r c e n t a n n u a l r a t e s i n c e th e f i r s t
q u a r t e r o f 1 9 7 1 , co m p a re d w i t h a 9.6 p e r c e n t i n c r e a s e i n th e
p r e v io u s y e a r .
M uch o f th e in v e s t m e n t r e b o u n d r e f l e c t s s t r o n g
g a in s i n r e s id e n t i a l c o n s t r u c t io n a c t i v i t y .
G o v e rn m e n t p u r c h a s e s
o f g o o d s and s e r v i c e s h a v e i n c r e a s e d a t a 5.3 p e r c e n t a n n u a l r a t e
s i n c e e a r l y 1 9 7 1 ; s t a t e and l o c a l g o v e r n m e n t s p e n d i n g i n c r e a s e d
a t an 8.2 p e r c e n t a n n u a l r a t e a n d F e d e r a l G o v e rn m e n t p u r c h a s e s
a t a 1.5 p e r c e n t r a t e fro m th e f i r s t q u a r t e r o f 1971 t o th e t h i r d
q u a rte r.
R e c e n t d a t a on p r i c e s a p p e a r t o r e f l e c t i n p a r t th e
im p a c t o f th e w a g e - p r i c e f r e e z e .
The i m p l i c i t p r i c e d e f l a t o r
r o s e a t a 2.9 p e r c e n t a n n u a l r a t e fro m th e s e c o n d t o th e t h i r d
q u a r t e r o f 1 9 7 1 , co m p a re d w i t h a 5.2 p e r c e n t i n c r e a s e i n th e
p r e v io u s y e a r .
The c o n su m e r p r i c e in d e x r o s e a t a 2 p e r c e n t
a n n u a l r a t e fro m A u g u s t t o O c t o b e r 1 9 7 1 , a f t e r i n c r e a s i n g 4.5
p e r c e n t i n th e y e a r e n d in g i n A u g u s t .
W h o le s a le p r i c e s o f
i n d u s t r i a l c o m m o d it ie s d e c l i n e d a t a 0.5 p e r c e n t a n n u a l r a t e
fro m A u g u s t t o O c t o b e r o f 1 9 7 1 , co m p a re d t o a 4.4 p e r c e n t i n ­
c r e a s e i n th e p r e v i o u s y e a r .




2

TOTAL C I V I L I A N FMPLOYKENT
COMPOUNDED ANNUAL RATES. OF CHANGE
TERMINAL
MONTH

I N I U A k MONTH_
_
3-70

4- 70

5-70

6-70

7-70

8-70

9 - 7 0 1 0 - 70 11- 70 12- 70

1- 71

THOUSANDS
"OF PERSONS

________ _________
2-71

3- 71

4-71

5-71

6-71

7- 7 1

8-71

9-7L

-U 3

78, 886

*- 70

-2.8

____ 78*601

6-70

-3.4

-4.4

7 - 7 0 ___ - 1 * 5

“ 1*6

4.-70

-6.3..

____- 1 . 2

1.6

- 1 >?

-0.5

l ^ O

-0.6

“ 0 . 5 ___0 . 3

1 1 - 70

-0.8

r0.7

■1Ü-7Q___rJLt.IL1-71

-0«_2

2- 71

JL.A_ _

78, 691

3 . 3 ................ .............

78, î>5C

0 .1

0.2

. 0.5

-2.1

0*8

7.0ai.

0*6

-0.3

-Ot2

_.Q.vl

- It 7

- j y3

-Q .0_

0*5

U2__iU7

, i a

1.5

0.9

2.4

-

..... •0, 1.

5- 71

-0

^

juL ,

.- £*1. . -0*2.
Jb JL_

JfcdJ___ r.Q«.aL.

3- 70

0.6

78 , 479

-o«4

-

-0,.t6

0.7

O f 9 ... - 0 t 7
1.5

78 , 508

1 .0

0 .8

4- 71

10- 71

-

-O.i

-0,6 .

- i l l i ____

78j 574

- 0 ^ 2 ____6*3 _

. 8- 70___ - 1 . 4 . - I - A
- 1 -1 0

78, 299

■dbS

M

Q t?

-O f 2

0*5

_JJL*!L__tt*6-___ Qj J L
— Qt2

- 0*2. ....- Q « l

.„û*8„ - 1 . X .
5-70

. 0,9

6-70

7-70

8-70

____

78, 864

_____

78 , 537
78. 475

___ Qt-L..-^*.g...-rPjt5L

78t 608

QU.C..... 0 . 5 . „ ..Q m± — z4 m ___ _ U 2 ____ i *5_
0.6

- Q t l___- 0 . 5

. 1* 5____ L . 6

6*3

0..6 . -0_, \__ .. Q ± 6 ... _-_4_. 9_________

d h U ..-T.P-f 7
.

_ CL » 6- ___ SL.2____ Q jtA ____flL*5

Jh JL

4-70

-O f I

jl Z

78, 463

1,5

1..0 „

l t 5 _ . 0 Jt4..__2.t 2

-C.2

-0.1

. 1*8

2.1

9 - 7 0 10 - 73 1 1 - 70 12- 70

-1.3

-0.4

-0.7

—1^9

. . .2*9

L*Z_.J
1- 71

2- 71

78, 961

_ 3 . 8 ___4 . 1 .

3- 7 1

4-71

-7.6

2 , 7 ___ 5*5-------- Okp.l. .
5-71

6-71

7-71

5.à Q.

4 .9

8-71

79*845

9- 7 1

I N I T I A L MONTH

PAYROtL EMPLOYMENT
COMPOUNDED.. ANNUAL R„A.TES .OF CHANGE

PREPARED BY FEOERAL RESERVE BANK OF S T . LOUI S
NOVEMBER 5 , 1971

THOUSANDS
OF PERSONS

I N I T I A L MONTH

ro,9Ct*>

70

9- 70 10- 70 I 1- 70 12-70

1- 71

2- 7 1

3-71

4- 71

5-71

6-71

7-71

3- 7 1

9- 71

IN IT IA L MONTH
P - PRELIMINARY




PREPARED ftY FEDERAL RESERVE R**jK OF S T . IGU* •
;
NOVEMBER 5 , 1971

3

EMPLOYMENT
RATIO

RATIO

SCALE

MILLIONS

OF

PERSONS

MILLIONS

S E A S O N A L L Y AD J U S T E D

OF

SCALE

PERSONS
90

80

70

60

50
1963

1964

1965

1966

1967

1968

1969
SOURCEt

PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTEDi




1970

1971

U . S. DE P A R T M E N T OF LABOR

I ND I C A T E D .

0CT01ER P R E L I M I N A R Y

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUtS

4

INDUSTRIAL PRODUCTION
______________________________________________________________ COMPOUNDED ANNUAL RATES OF CHANGE________________________________________________________________

i
o

TERMINAL________________________________________________________________ I N I T I A L MONTH______________________________________________________ ___________ 1967 • 100
MONTH
3- 70
4- 70
6- 70
7- 70
8- 70 9- 70 10- TO 11- 7C 12- 7 C 1-71
2-71
3- 71
4-71
5- 71
6- 71
7-71
8- 71
9- 71
4- 7C

-l.l

5- 70

-0.4

0. 0

6-7.)

•.J
">

0. 6

1.1

WO

-0.3

o. c

G. w

-l.l

_d—7y__ - 0 . 2

0. c

O. C

-0.6

107. 5
107. 5
107. 6

-2. •
)

-2.2

- ?.

1C-7C

-6. 1

-6.9

-6.3

11-70

-ft. 9

-7.7

-3.9 - l J . d

12- 70

9 -7 0

107. 5
107. 5

f' . J
-5.5 -IC .6

106. 5

-10. 5 - 13 .4 - 19. 4 - 27 .4

103. 7

-4.C

102. 6

-13.1 -17.0 -20.1 -12.0

-3.7

-4.C

-4.6

-5.5

-6.4

-7.9

-6.9

5. ?

26.1

r \

1-71

- 2 . ft

-2.7

-3.1

-3.6

-4.1

- 4 . t)

-3.3

6. 3

16. 9

8. 3

2-71

-1.9

-2.0

-2.2

-2.0

-2.)

-3.3

-1.8

5. 9

12.6

6. 5

3-71

- ? . .3

-?.o

-2.2

-2.6

-2.3

-3.2

-1.9

4. 2

P. 7

3. 5

104. 6

V

X

1QS*.3

105. 5

-2.2

^ + 2.0 %

106. 2

4- 71

-1.2

-1.2

-1.3

- 1 .6

-1.6

-1.«

-0.5

4. 9

8. 6

4. 7

3. 5

2. 9

3. 3

5-71

-n.5

-0.4

-->.5

— *. 6
•

-0 . 6

-0.6

0. 7

5. 5

8. 3

5. 6

4.9

5. 0

8. 8

W 1

-0.3

-0.2

—iJ . 3

-U.4

— ü •3

-0.3

o. q

5. 1

7. 8

5.C»

4.4

4. 3

6. 6

5. 8

7-71

-1.0

-1. J

-1.1

-1.3

-1.3

-1.4

-0.5

3. 1

6. 2

2. 5

1. 5

0. 9

1. 7

-0.4

-4.9 -11.6

1 0 . 7 . . 0 ............

9.4
2.3

107.2

\

106.1

9-71

-1.5

-1.5

-1.6

-1.8

-1.9

-2.0

-1.2

1. 9

3. 5

1.0

0. 0

-0.8

-0.5

-2.5

- 6 . 2 -10.2

9-71

- 0.9

-u.9

- 1 .C

-1.1

-l.l

-1.2

-0.4

2. 5

4. 1

1.9

1.1

0.6

1.1

-0.2

-2.5

-4.0

0. 0

9.5

1C-71

-•3.3

-v.7

-0.3

-0. i

.9

-1.0

-0.2

2. 5

3. 9

2. 0

1. 3

0.9

1. 3

0. 2

-1.6

-2.5

0. 8

5. 8

2. 3

3- 7 j

4- 7u

5- 70

'WO

7- 70

B-7'1

9- 70 10 - 7 »: 11-7U l ? - 7 0

1-71

? - 71

3- 71

4- 71

5- 71

6- 71

7- 71

8- 71

9- 71

INITIAL

-3.7

.........ua.ik.3...........
1 0 6 . IP
1A6 *1P

MONTH

P- P«fcLIMINARY




...............

105. 7

PREPARED BY FEOERAL RE-SERVE BANK OF S T . LOUIS
NOVEMBER 17, 1971

5

INDUSTRIAL
RATIO

PRODUCTION

SCALE

1967-100

RATIO

SEASONALLY ADJUSTED

PERCENTAGES ARE ANNUAL RAT£$ OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTED«




SCALE

1967-100

INDICATED.

OCTOtcP P R E L I M I N A R Y

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

RETAI L SALES
COMPOUNPEP ANNUAL RATES OF CHANGE
M ILLIONS OF
DOLLARS

IN IT IA L MONTH

TERMINAL

2- 7 0

3- 70

4-70

5- 70

6- 7 0

7-70

8-70

9- 7 0 10- 70 11- 70 12- 7C

1- 71

2- 71

3- 71

4-71

5- 71

6- 71

7- 71

8- 71

3- 70
4 - 70
5- 70
(MMipb twing iwitid|

6-70
7- 7 0
0-7C

31.951
10- 7 C

8. 3

10» 7

7. 2

11~70

5. 3

7. 5

4.2

5. 2____6 t j

12- 70

7. 2

6.1

7.2

8. 3

1-71

8. 4

10.1

7. 7

8.9

10. 2

10. 4

.Z z l l

9. 6

U.2

q.2

10. 4

11. 7

12. 1___L2jl2____« 9

3-71

10. 1

11. 7

9. 8

1 1 . 0 , 12. 2

4-71

10.?

11. 6

10. 0

U .l

8. 9

9. 8

<?.2

10.0

J ± l i ___ L i

9.0

11. 2

12. 1

31. 621

17. 5 - 1 1 . 7

Jgt §____fr,7 - » ■ «

12. 2

3L.2

-iUZfiL.

-» U .

8. 3 ____9^9— z 2 -»Ji ____2» 7
£. 7
Utl

3UIM -

?0»0
21. 0
¿lt<>

32,290_

21«-9_
22»4,

tttSL
3.3 , 2 74_

12. 7

14. 3

8 . 5___j 3 , p
t

gOA3,

2Qj_ 5_.

19*7----- I 6 t 6 -

12.1

12. 5

13. 9

8.9

12. 9

18. 5

18. 2

16. __
9

10. 7

1C. 9

12. C

7.4

10. 4___j 4 t 7

1?. L.

11*1------A x Z ------- *%2 — Z ̱ .L -

-X

10. 8

11. 0

12. 0

7. S

1C.6

14. 3

13. 4

11. 8____2 ± 2 ___________ 4_t_5___L 2 j J _

_13jt_8£7_

9.6

10. 3

6.6

8. 8

11. 8

10. 6____Ì U3___ Jb±2 ___________ U i ____ 3 «4,

.3 3 1578_

14*1----- U , 5

6- 71

9. S

10. 7

_ZrZL_

8.6

9. 6

6-71

10. 1

11. 2

10.c

1C. 8

11.5

11. 7

12. 6

9.3

11. 6

14. 6

14.Q

1 2 . 9 , 11. 3 , 10*3------- 9 , 9

9- 71

10. 6

11. 6

13. 5

11. 2

12. 0

12. 2

13. 0

10. 0

12. 3

15. 0

14. 5

13. 6

12. 3

11,6___H » 6 — L?t . §- 16,.7

3- 70

4-70

5- 70

6- 70

7- 7 0

8- 7 0

9 - 7 0 10- 70 U - 7 C

12- 7C

1-71

2- 71

3- 71

7- 71

SZ-

29» X----- I S j J L

2- 70

jl S

8. 2____3 , 9...

4- 7 1

13 t M 8

H,5 .

5-71

6- 71

8- 71

I N I T I A L MONTH
P- PRELIMINARY
PREPAREO BY FEDERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 17, 1971
PERSONAL INCOME
COMPCUNPEO ANNUAL RATES OF CHANGE
BÎ LL T ÔNS' ÔF "
DOLLARS
ANNUAL. RATES

I N I T I A L MONTH
MCNTH
4- 70

5- 70

6- 7C

7- 70

8- 70

9- 7 0 10- 70

0
r>
1

3- 70

12-70

1-71

2- 71

3- 71

4- 71

5- 71

6- 71

7- 71

8- 71

9- 71
8 0 8 .0

32. 2
10. 0

— 8, 6

6- 7 0

6. 2

—4, 8

7- 70

6. 2

-1,3

1
0

1

2. 5

8 0 1.4
6.0

8 0 5 .3

6. 1

0, 4

3. 5

5 .8

5 .7

6, 6

2, 1

4,9

6 .9

7 .4

9 .1

5. 3

1.4

3,5

4,6

4 ,2

3. 5

8- 70

0

8 0 2 .0
-0.9

o

5- 7 0

o

4- 70

8 0 9 .0

11- 70

5. 0

1,6

3,4

4 .3

3 .9

3.4

12-7C

5, 4

2. 4

4. 1

4 ,9

4 .7

6. ?

3. 6

5, 3

6 ,2

6 .3

2- 71

6, 1

3 .8 .

5 ,2

-1 .9

0.6

4 .5

1-71

8 1 4.9

6,2
6,0

8 1 3 .6

7t9

5t 7

8. 3

11. 0

14.1

* !?

7, 4

8. 9

9.3

4.7
7. 2

9. 8

3- 71

6,4

4. 3

5, 7

4- 71

6 ,4

4,*»

5, 8

5-7.1

6 ,5

4, 8

6,0

6,6

6.7

6.1
6.6
6.6
6.8

6- 71

a .i

6. 6

7.8

8.6

8. 8

9.1

M

7- 71

6,6

5, 0

6, 1

6,6

6,7

6. 8

6.6

7. 5

8- 71

6,9

5 .5

6. 5

7, 0

7,1

7. 2

7.1

8. C

9-71

6, 3

b.5

6.4

6,9

7, 0

7. 1

6.9

7. 8

6 . i>

5. 2

6. 1

6. 7

6.5

7,2

4- 70

5-70

1C-71

3-7'*'

6 ,4

6-70

6 ,0
6. 5

7- 70

8- 70

8 1 5 .7

3,1
5 ,5

8 2 0 .9
8 3 0 .0
83 3.2

7. 9

9. 1

9, 5

7. 7

8 .7

8, *

7.1

8,3

6 ,9

7. 8

8,6

8, 7

7. 4

8.3

7 ,6

8. 3

10. 6

1 } 17

12, 3

12. 0

13. 9

15, 3

19. 7

8.1

8, 1

7, 2

7.7

7. 1

7, 2

6.7 - 14 .0

8. 6

8. 7

7, 9

8. 4

8. 2

8, 5

8. 5

-1.7

12. 4

8. 3

8. 3

7, 6

8. 0

7. 7

7, 9

7. 8

0. 6

8, 9

5.5

7. 6

7. 6

6. 9

7. 1

6.7

6,7

6*4

0. 8

6.2

3.3

1. 1

9- 70 10- 70 11- 70 12- 7C

1-71

2- 71

3- 71

4-71

5- 71

6- 71

7- 71

8- 71

9- 71

M

8 3 9 .7
84 4.4
85 0 .0
32 , 4

670. 1
859, 2
867. 6
8 7 1 . 5P
8 7 2 . 3P

P - PRELIMINARY




PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 19, 1971




7
RETAIL
RATIO

SALES

SCALE

BILLIONS

RATIO

OF D O L L A R S

BILLIO NS

SEASONAL LY AOJ US T E D

SOURCEi
PERCENTAGES

are

ANNUAL RATES OF CHANCE FOR P E R IO D S

»LATEST DATA PLOTTED«

U .S .

departm ent

of

com merce

IN D IC A T E D .

SEPTEMBER P R E L IM IN A R Y {SA M P LE P R IO R

TO SEPTEMBER

1970 B E IN C R E V IS E D » .

PREPARED BY FEDERAL RESERVE BANK OF ST.

PERSONAL
RATIO

SCALE

TRILLIONS

MONTHLY T O T A L S

OF D O L L A R S

SCALE

OF D O L L A R S

L O U IS

INCOME
AT ANNUAL

RATIO

RATES

SEASONALLY A DJ US T E D

TRILLIONS

SCALE

OF D O L L A R S
1.0

0.

0.9

0.

0.8

0.

0.7

0.

0.6

0 .

0.5

0 .4
SOURCEi
PER9CMTACES ARE ANNUAL RATES OF CHANCE FOR P E R IO D S
LATEST DATA PLOTTED!

U .S .

DEPARTMENT OF COMMERCE

IN D IC A T E D .

OCTOBER P R E L IM IN A R Y
PREPARED BY FEDERAL RESERVE BANK OF ST.

L O U IS

8
GROSS NATIONAL PRODUCT IN CURRENT DOLLARS
COMPOUNDED ANNUAL RATES OF CHANGE ______________________________________________________
-------------------------------------------------------- ,--------------------------------------------------------------------------------------------------------------------- BI LLI ONS OF

2- 6 7

3- 67

4- 67

1- 68

2- 68

3- 68

4- 6 8

1- 69

3- 69

2- 69

4-69

0
1

1- 67

k

4- 66

M
i
O

ANNUAL RATES

QUARTER

3- 7 0

-*- 70

1- 71

2-71

1. 9

774. 4

2-67

3. 6

5. 3

78 4. 5

3- 67

5. 3

7.0

800. 9

4- 6 7

5. 9

7. 2

8. 2

7. 7

8. 5

8.4

9. 2

9.5

10. 4

11. 7

9.3

9. 8

10.1

1-67

1-68

6. 5

2-6B

7.4

8. 5

9. 3

3-68

7. >

8. 5

9. 1

815. 9

7. 7

8 34. 0
8 5 7. 4
8. 6

875. 2
890. 2

4-6 r
t

7. 5

8. 3

8. 8

8.8

9. 1

9.1

7. 8

7.0

1-69

7.5

8. 2

8.6

8.6

8. 8

8. 7

7. 7

7.3

7.5

2-69

7. 4

8. 1

8.4

8.4

8è 5

8. 3

7. 5

7. 2

7. 2

3-69

7. 5

8.1

8. 4

8.3

8. 4

8. 3

7. 7

7.4

7. 6

7. 6

8. 2

4-t>9

7.1

7. 6

7. 9

7.8

7. 8

7.6

6.9

6.6

6. 5

6.2

5. 8

9 0 6. 4
9 2 1. 8

7. 0

94 0. 2

rv

94 8. 0

3.4
" -»*4. i y o

956. 0

1-7C

6. 9

7. 3

” .5

7. 3

7. 3

7.1

6. 4

6. 1

5. 9

5. 5

5. 0

3. 4

3.4

?-7l

6. 7

7. 1

7. 3

7. 2

7.1

6. 9

6.3

6. C

5. 8

5. 4

5. 1

4.0

4.4

3-7G

6.7

7.1

7. 2

7. 1

7.C

6. 8

6.3

6. C

5. 9

5. 6

5. 3

4.6

5. 0

5.8

6.3

6. 7

6.8

4.3

4.5

4.2

4-70

6. 4

6.7

6.6

6. 4

5. 9

5. 6

5. 4

4.8

5. 1

9 6 8. 5

5.3

9 8 3. 5
98 8. 4

_ I Q no;
+y.yyo

1-71

6. 3

7. 2

7. 3

7.2

7.1

7. 0

6.5

6.3

6.3

6. 1

6.0

4 .n
L _ _J
5.6

6. 1

6.8

7.3

7. 7

13.8

2-71

7. 0

7. 3

7. 4

7.3

7. 3

7. 1

6.8

6.6

6. 5

6. 4

6. 4

6. 1

6.6

7. 2

7.7

8. 2

11. 4

3-71

7. 0

7. 2

7. 4

7. 3

7. 3

•L.L

6, 8

6.6

6.6

6. 5

6.4

6. 2

6.6

7. 2

7. 6

7. 9

9.9

8.0

N
7.0

4- 66

1-67

2- 67

3- 67

4- 6 7

1- 68

2- 68

3- 68

4- 68

l-e>9

2- 6 9

3- 69

4- 6 9

1- 70

2- 7 C

3- 7 0

4- 7 0

1- 71

2- 71

2.oV

1» 0 2 0 . 8
1 . 0 43. 1

9 .0 ^ ^

1,060.8

I N I T I A L QUARTER

..... .................. .....................

p r e p a r e !) b y ..R d l R A L
NOVEMBER 19, 1971
GROSS NATIONAL PRODUCT IN CONSTANT 1958 DOCTORS
COMPOUNDED ANNUAL RATES OF CHANGE

INITIAI

TERMINAL
QUARTER
4- 66

1- 67

2- 67

3- 67

4- 67

1- 68

2- 68

3- 68

4- 68

r e Sé r v e

"S ank OP 5 T . " V ô u r s

1- 69

2- 6 9

..........

BI LLI ONS OF
DOLLARS
ANNUAL RAtES

QUARTER
3- 69

4-69

1- 70

2-70

3- 70

*
i
o

..... ................ ............

1- 71

2- 71
666. 6

1-67

-0.9

2- 67

1.1

3. 0

671. 6

3- 67

2. 2

3. 7

4. 4

4- 6 7

?.i

3. 4

3. 6

2. 8

678. 9

1- 68

2. 9

3. 9

4. 2

4. 1

5, 4

683. 6
692. 6

2-08

3.7

4, 6

5. 0

5. 2

6.4 _

3- 68

3. 7

4. 5

4. 8

4.9

5. 6

5t8

„4.0

4- 68

3.6

4. 2

4, 4

4*4

4. 8

4.6

3. 2

2.4

7 0 5. 3
71 2. 3
716. 5

1- 69

3. 5

4. C

4.2

4. 1

4. 4

4.2

3.1

2. 6

2. 8

2- 69

3. 3

3. 8

3. 8

3. 8

3. 9

3. 6

2. 7

2.2

2. 2

1. 6

3- 69

3. 2

3.6_

3. 6

3. 5

3. 6

?*4

2. 5

2.2

2. 1

If*

72 1. 4
724. 2
727. 8

2 , 0 jr s .

4- 69

2. 8

3. 1

3. 1

3. 0

3. 0

2t7

1. 9

1. 4

1. 2

1-7C

2. 3

2.6

2. 6

2.4

2. 3

1|9

1. 2 ... 0 . 7

C. 4

-0.2

-0.8

-2.2

-2.9

?- 70

2. 2

2.4

2. 4

2. 2

2. 2

It?

1.1

0.7

C. 4

-0.0

-0.4

-1,2

-1 .1

3- 70

. 2. 1

2.4

2. 3

2. 1

2. 1

1,7

1. 1

o.a_

C. 5

Pt2

-0.1

-Çf*

...

4- 70

1. 7

1. 9

1.8

1. 6

1. 6

1. 2

0.6

0.2

-c.o

-0.4

-C.8

-1,3

-it 3

-0.7

It?

1. 2

l.C

0.8

0.6

0. 4

0,2

0. 5

1. 4

1.6

1.8

' 7. 9

1.5

1. 3

1. 2

l.o

1. 0

0.8

1. 2

2. 1

2.4

2. 8

6.4

4 . 9 SV W

I.*
5

1. 5

1. 3

1. 3

1. 2

1. 6

2.4

2.7

3. 1

5. 6

4.4
3.91
745. 5
'
.............1 ................................

4- 68

1- 69

2- 6 9

3- 6 9

4-69

1- 70

2- 7 C

3- 70

4- 7 0

1-71

2.1

2.3

2. 2

2. 1 ...2. 0

2- 71

2. 2

2.4

2. 4

2. 3

2. 2

3-71

2. 3

2. 5

2. 5

2. 4

2. 3

2. 1

1. 7

4 - 66

1- 67

2- 67

3- 67

4-67

1- 68

2- 68




3- 68

*>t7

72 5. 2

C. 3 '

"'— 1.3 %
719. 8
o. t

N .

721. 1
72 3. 3

-1.4

-4.0\
729. 7

l-*l

738. 4

2- 71

I N I T I A L QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS
NOVEMBER 19, 1971

9

DEMAND AND P R OD U C T I O N
RA T I O

SCALE

1963
LLGNP

QUARTERLY

1964

1965

1966

RAT I O

TOTALS AT ANNUAL R A T E S

1967

' N CURRENT DOLLARS.

1968
SOURCE«

1969
U.S.

1970

SCALE

1971

DEPARTMENT OF COMMERCE

I2JBNP ! N 1958 DOLLARS.
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LATEST DATA PLOTTED«




INDICATED.

3RD QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST.

LOUIS

10
COMPOUNOEO ANNUAL RATES OF CHANGE

BI LLI ONS OF
DOLLARS
ANNUAL ft ATE S

IN IT IA L QUARTER
4-66

1-67

2-67

3-67

4- 67

1- 68

2- 68

3-68

4- 68

1- 69

2- 6 9

3- 6$

4-69

1- 70

2-70

3- 70

4- 7 0

1- 71

2- 71

780. 0
792. 2
805. 9
8. 8

10.1

3. 7

9.5

13
10.7

8. 9

9. 5

10.3

847. 8

8

867. 5
882. 1
899. 8
7. 9

3-69

8. 1

8 .1

8.1

8.3

4- 69

7. 1

7. 9

7.9

8.0

8.5

iJL-.

7. 8

7. 7

7, « , ,h ± ..

915. 0

7.A
7. 2

7. 3

6. 8

6. 6

6. 8

6. 8

6. 3

K.
—

■955.6

4- 7 0
1-71

6.7

0. 0

o.t

0. 3

7. 3

6. 7

6. 6

6. 2

6, 1

5« j

5. 5

6. 9

6. 9

6. 4

6, 2

5, 8 .

5, 7

5, 3

5. 0 _

7.4

7. 4

7. 0

6. 9

6. 6

6, 6

6,3

6, 3

f..7
6, 9
4-68

p

7,3

7.2

7.3

7. )

7. 0

6. 9

7.4

7.4

7.3

2- 7 1

7.4

7.4

7.4

7. 5

7. 5

7,1

7. 0

6. 7

3-71

7.5

7. 5

7.5

7.5

7. 6

7, 2

7,1

1-67

2-67

3-67

4-67

1-68

2- 68

3- 68

6. 6

6. 9

I

c-

r. P

978. 4

5.1

4, 8

5. 0

4.5

4, 1

3, 8

2.6]

6, 2

6.3

6. 5

7. 1

8. 2 1 14.0

6*5

6. 5

6. 5

6, 6

6. 8

7. 3

8,1

11,0

!.0 \

6, 6

6. 7

6.8

6, 9

7. 1

7, 6

8. 3

I O . 3I

8,4

1- 69

2- 69

4- 69

1- 70

2- 7 0

3- 70

1- 71

5. 2

984. 7

+ 1 0 .3 %

1

r.5

»

7. 3

7.1

. ’»

f. H

'C

3-70

*.
i

V>
*

i

0

! . 'J

942. 3

--------------- ----------------------

4. 1

6. 0

7. 2
/-ÍÜ

929. 8

6,1

1,017.6
1,037.4

8, 9 I

1, 0 5 9 . 7

2- 71

I NI T I AL QUARTER

PREPARED PY FEOERAL RESERVE BANK OF S T . LOUIS
NOVEMBER 19, 1971
T T n AL SALES IN CONSTANT 1958 DOLLARS
CQMPCUNQCO ANNUAL RATES OF CHANGE
TfcRMlNAL
QLAHTFP
4- 66
1-67

L

2- 6 7

3- 6 7

4- 07

1- 68

2- 68

3- 68

BI LLI ONS OF
DOLLARS
4- 6 9

1- 70

2- 7 0

3- 70

4- 70

1- 71

2- 71

( O '

2- 67

1-67

I NI T I AL QUARTER
ANNUAL RATES
4- 68
1- 69 2- 6 9 3- 69

657. 5
„ >

667. 3

4. 0

670. 6

3- 67

4.4

4- 67

3.8

3. 4

2.1

1-68

5.0

4. 9

4. 6

5, 9

2- 68

4.8

4. 7

4. 4

b, 2

6, 7

3 *H SsNw

3- 68

4,3

4. 8

4. 5

5,?

6, 2

4_,5

4- 68

4.5

4. 4

4. 1

4, 6 _

5, 1

3, 7

3,6

2 , l S .

1- 69

4.4

4. 3

4, 1

4, 4

4. 9

3, 7

3. 7

3. C

2- 69

4, 1

4, 0

3, 8

4,

4, 3

3, 3

3.1

3, 5

?, 6

67 4. 4
690. 0
696. 5
705. 3
709. 0
715. 8
.

71 8. 3

X

3, 6

3, 3

3, ?

3, 7

2. 7

2, 5

1. 9

l.a

i.. 8

0.?

3, 5

3. 4

3,1

3, 2

3. 3

2. 5

2. 3

1. 7

1.6

C.H

0. 6

1 0.9

1-70

3, 2

3,0

2.A

2,y

2. 9

2. 1

1. 9

1,1

1. ?

C. 5

0, 2

9.3

-0.4 V

2- 7 C

3,Q

2, *

2, 5

2, 6

2, 6

1,9

1.6

1,1

. C. 9

C. 4

0, 1

o.i

-0.3

»0.2

3- 70

2, 8

2. 3

2. 4

2, 4

1.7

1.4 .....l . C

.C.fl .

C. 3

0.1

Vtl

-0.2

-0,0

0.9

- Ot*

-0.5

-0.6

-1.0

-1,2

C, 7

Û. 8

0.«

1.1

1. 5

2. 2

0

3f7

X
1

3- 69
4- 69

1-71

?, 4

2, 2

1, 9

1.9 ...... 1. 9

1,2

2. 7

2, 5

2,3

2, 3

2, 3

1.8

0. 5 . — C » V
1. 2

1.1

718. 6
A XO5L

720. 3

‘

719. 5
719. 1
0.2

7 1 9. 4

-1,7 . - 3 , 6

1

A K OVf
+3,770

727. 1

2-71

2, 7

2, 6

2, 4

2.4

2. 4

1. 9

1.7

1.4

1.4

1.1

l.l

lt¿

1.2

1, 6

2. 0

2, 6

5. 9

3.6

3-71

2. 9

2. d

2, 6

2. 6

2. 7

2.2

2. 1

1. 8

1.4

1. 6

1.6

1, 8

1. 9

2. 3

2, 8

3, 4

5,9

4,7

4- 66

1-67

2- 67

3- 67

4- 67

1-6B

2- 68

3-68

4- 68

1- 69

2- 69

3- 69

4- 6 9

1- 70

2- 7 0

3- 70

0
1

1-71




712*8

1 8. 3
1
X

73 3. 5
5 ,^ |

744. 1

2- 71

I NI T I AL QUARTER

PREPARED BY FEOERAL RESERVE BANK OF S T . LOUIS
NOVEMRSft 19, 1971

n

FINAL

SALES

TOTAL SPENDING LESS CHANGES IN B US IN ES S
RATIO

SCALE

1963

QUARTERLY

1964

1965

1966

TOTALS

AT ANNUAL

1967

L A T E S T DATA PLOTTED;




OF CHANGE FOR P E R I O D S

RATIO

RATES

1968
S OURCE:

PER CENT A GES ARE ANNUAL RAT E S

INVENTORIES

1969
U.S.

1970
DEPARTMENT

SCALE

197!
OF COMMERCE

INDICATED.

3RD QUARTER
PREPARED

BY F E D E R A L

RESERVE

S AN K

OF

ST.

LOUIS

12
CONSUMER PRICE INDEX *
ÇQHPOUNPEO ANNUAL RATES OF ÇHANGC
TERMINAL

IN ITIA L

MONTH

, 3-70
4-70

4— 70 — 5^ 70

6- 7Q

7-7Q

8 - 70

9 - 7 0 10- 70 i l - T Q

1967 = IOO

MONTH

12- 70

1- 71

2-71

3- 7 1

4- 71___S ^ X L

fe I L — 1=21___8- 7 1
Z-

9- 7 1

. 7 . 6 _____________________________________________________________________________ ___________________________________ __________________________ __

5- 7 0

6.5

5. 3

I N I T I A L MONTH
*

NOT SEASONALLY ADJUSTED

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUI S
NOVEMBER 19, 1971
WHOLES AL f *»KICFS c
TERMINAL
MCNTH

INDUSTRI AL COMMODITIES *
1967 «

I N I T I A L MONTH
4-7r

>-70

5-70

6- 7. )

7- 7Ü

8- 70

9- 70 1C- 7C 11- 7C 12- 70

1- 71

2- 7 1

3- 7 1

4- 71

5- 7 1

6- 71

7- 71

8-71

109. 3

_ 4-7_C.___ 4 . 1 _
5- 7G

4.5

6- 7 0

3. 3

7- 7C

J L s i. .

109*7
109*8

1. 7

?.. 6

?.2

.2 .*?

. .... Î . 4 . .

¿. , 4

...i t 4
5

2 .?

..3 .X

____ J ^ 3 _

2.2

uo.o

1IÛ-A

...............
-HU3L-

_ÌL*J___ l v t - Z3_i_3_____ j t_S_____4_t_l_____ -----------------Q «.V

3,1,1___

_ h J ____ L t J ____ 1 ± 1

_*.r. »a _____ ! ! « .

J

----3X3. __

___

lJ l

.11.1» 7 .

.

y

.. M mJL__
JLjC

3.a .

** § . 3.«4

3.7

3. 9

4.2

4.A

3* 3

4.4

4.4

3. 3

M2.5

3- 71

3. 6

3.5

5. 4

3.7

3^a

4.1

4.4

3. 3

4. 1

4.^

3.3

11 ? . «

4- 71

3.7

J *_7 _

3. 6

3. 8

4. Z

4.2

4.5

î.é

4. 4

4.4

4.0

_2. -71

5- 71

3.3

8- 71

4. '

4.3

4 .5.

3. 7

4.4

4.4

3*7

3. 9

4.r

4. 2

3. 5

4.C

4. ì

1. 7

3. Ó

3. 7

3. 9

4. 1

4. 3

4. 5

Î.Ç _

4.3

4.3

4. 1

B, w

3.7
_

____

4 > i ___
3. 7

11 3 . 3

4.9

4.3

4.C

3. 7

2. 1

4.6

_

4.3

4.3

6.5

1l î . 7
1 1 *.<i
11 4 . *

4. a

4.4

4^7

4. 1

4. 6

4.6

4.5

5. 0

4.8

5.C

6.5

6.5

},i

3. 9

4. C

4.2

3. 6

4.1

4.C

3. ii

3.9

3.6

3.5

3.9

2.6

-1 .0

1±>
LS

3. 6

3. 7

3. 3

3.6

3 .*»

*.3

3.4

3.0

2.8

2.9

1. 8

-fj.5

7- 7C

3- 70

9- 7C I C - 7 C 11- 70

12- 70

I - 71

3-71

4- 7 1

5-71

6- 7 1

7- 71

....

3. 6
JUA

.. 2 * 3 ..

.....

i '•
£

1
:U
%

~4- 7~r "

INITIAL
♦

5. 4

4.1

3. 5

____

9-71
1C-11

-3^«)

3.6

3.«

...

1.7.

3. 7

.

6- 71
_.Z-_7L_

.

2

11 5 . 1
1 15 . 0
n.n

11 *.r>

8- 71 * 9- 7 1

«üntw

NCT SEASÜNALLV JMUUSTfciL




.

110. 2
2*2

______

¿ . 2 . ___£±9

12- 7C_____ i * A -

.

2.2

2.-3

J L C - 7 0 ____ 3<8_.
X ir J O

1. 1

'¿ . Z

. P — 7 Ö ......
- 9 -7 0 .,

100

9- 71

PREPARED BY FFL'ERAL
NOVEMBER S . 1971

RESERVE

TANK OF S T -

LOUIS

13
RATIO

PRICES

SCALE

RATIO

SCALE

1967-100

19 6 7 - 7 00
1-30

130

*
Mw. ‘SS

JA*. "6J

I
Ji/irsr

*
ocr. V7

*
Jl/MF'/O

1*
Mif. 'Sf

125

125

+i
V 10 0 o 1 2 0
t
I cc. f.

12.0
CONSUL ER

1 1-5

■
/

1 15

/

H D

1 1 0

105

105

1 0 0

100

+ 2 .9 2 ^

!

95

\

. oZ -■ —
■■

95

1 20

1 20

1 15

1 15

/ I I 5 . 0
1 10

1 1 0

105

105

+,
+ I.6Z

100

WHOL E S A L E

N D U S T R 1 AL

100

+1h 6Z
95

95

JULY'S/

J*tf. 'SS

J M ‘SJ
A.

A

. .....J t

90
1963

1964

1965

f
ocr. •&

1966

1967

OCT. V 7

i

11

1968

t
1969

SOURCE:
PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R I O D S
LA TES T DATA PLOTTED*



1970

U.S.DEPARTMENT

1971
OF LABOR

INDICATED.

OCTOBER
PREPARED

BY F E D E R A L

RESERVE

BANK CF S T .

LOUIS

90

14
WHOLESALE
CQMPQUMDSn
TERM i to!
MCNT H

IN IT T A I
?.-7 u

4 -70

:. i

6 -7 0

_ _ 1S

5 -7 o

6 -7 0

7 -7 0

ft-70

1 1 - JO

9 —7 0

17 -?f.

: T iC S

♦

C H A N G E --------

MONTH
1-7 1

19 6 1
7 -7 1

3 -7 1

4 -7 1

5 -7 1

6 -7 1

_7 -7 1

* JJQO.

8 -7 1

9 -7 1

c .o

5 -7 3

„ in « u a .

a -7 o

2.2
'

2.8

7 -7 3
-

ALL C L . —
RATES O F

1

.
7 .7

.....3 * 7

4 .4

6 .7

1.5

1.1

1.6

.... 1

1. 4

2.0
1. 6

2
2.0
1. 5

1 .3

1.3

1 .5

1 .4

1 .3

2.1

2*3

2 -3

7 . 3

? .n

. « ¿-7 C
1C -7 C

2 .4

1.7

12 -7 0
1-7 5

7 . A

X1XU 9

ft-*

1 . <3

7 .1

n .n

r .n

1 .5

- r . 5

n .7

1 .4

r. . n

1. A

7. A

7 .7

_______ i n . a

1. 1

.............
o .n

7 . <J

..

.

m

3. 3

3 .4

3.1»

4 .7

3 .< j

4 . C

7 .r

* .7

* .3

7 .a

3 .C

3. 4

4 .4

5 - ft

7 -4

4. A

. a

7* 1

in .i

1 1 .3

___

3*2

3 .3

7 _ <J

3 .M

3 .*

4 .7

5 .3

A .3

5 .5

7 .7

».•:>

3 .3

3 ,4

3 .5

3. 1

4 .i!

T -fl

4 .4

5 .3

fc.7

5 .5

3 .o

4 .3

1 1 3 . 0 ----------113 ^ 1..—
X 13 u .fi

5 .4

3 .2

3 .4

3 .5

3 .6

3 .3

4 .1

4 -f

4*5

5.3

A . r.

5 .5

4 .r.

4 .7

5 .4

5 .4

7 - t j

3 .9

3 .4

3 .S

3 .# »

3. 3

4 .1

3 .Q

4. »

5 . f.

5 . A

5 .1

3 -C

4 .3

4 .7

4 .3

3 .7

f i-7 «

*4.2

*.4

3 .5

3 .6

3 .3

4 .0

3 .A

4 .7

4 . A

5 .3

4 . ft

3 .8

4. 1

4 .3

3 .9

3 .2

3 .2

............

2 .3

2 .9

3 .0

3 .2

2. «

3 .3

3 .7

3 .C

4 .7

3 .6

2.6

7 .7

2 .6

1.9

C .7

-0 .5

2 .7

2.8

7 .5

3 .0

7 .H

3 .1

3 .4

3 .7

3 .1

7. 1

2.1

2 .0

1.3

0 .3

-0 .7

-7 . 6

- 1 . 0

4 -7 0

5 -7 0

7 -7 0

8 -7 0

9 -7 0

10 -7 C

1 1 -7 0

12 -7 C

1-7 1

? -7 1

4 -7 1

5 -7 1

6 -7 1

7 -7 1

8 -7 1

3 -7 1

MONTH

PREPAREO
P R IC ES FARM P R O D U C T S , ANO
r c M P C U K o r c ArjutiA i
8a tfs

"IN A L

1M IT IA l

* u :;t h
J —7 3

1 1 4 .5 ....

4 —7 0

5 -7 u

6 -7 u

7 -7 1;

8—7 i '

9 -7 C

1u -7 T

11-7 i'

17 -7 f

PROCESSED
r.F C H A N G E

eY

RESERVE

FECFRAL

BANK

OF

7 -7 1

3 -7 1

4 -7 1

5 -7 1

7 -7 1

6 -7 1

« -7 1

-6 .3

....0 - 7 ' ..

-4 .2

-3 .5

l . i

5 .8

12 .5

_

-3 .6

- 1 . 6

..... 0 . 0

* r J C . _ ..

-0 ,*

-1« 7
_

3 .8

-4 .2

16 .2

-3

-7 .7

- 1 . 0

- 1 L . 5

-4 .8

S .5
19 .9

IL L . 2

112.6
-7 1 .9

11 C . 3

- * . j

-2 .9

- 2 . 3

—9 . L

-4 .6

- 1 3 . fc

-4 . 3

12 -7 0

- A . 2

-3 .3

-2 .9

-8 .5

—5 . 3

- 1 1 . 2

—5 . *

-2 .3

- 1 . 3

- ¿ . 7

-4 .7

1.9

2 .9

1 -7 1

1 0 9 . . S ..
- ¿ . 4

10 Q .3

- 1 . 1

—5 . C

1.5

4 .4

16 .5

C . 3

4 .4

7 .1

9 .7

14 .7

7 6 .1

3 A .4

n .c

3 .4

1.4

&.<;

9 .9

15 .9

1 5 .6

- 2 . 1

2.8

1.1

5 .5

7 .0

11 .4

S. 7

-1. 6

2 .3

¿ .3

fe .2

1 1 .3

m . i

7 .5

4 .« }

11.1

1r.5

3 -7 1

0 .4

1.6

2 .4

2.6
2. C

< .-71

0 .3

1.3

2.1

1 .7

- 0 . 1

5 —7 1

l . i

2 .9

2 .5

l.C

3 .7

■>.7

i i n . 7

11 3 . 6
1 1 3 .4
1 1 3 .3

- 1 . 1

1. 4

3 .5

3 .4

1.9

4 .5

3 .3

7 .£

g .7

1 1 .5

4 .1»

7 .7

5 1..»

$ 7 .;

7 -7 1

1.4

2 .3

2 .9

2 .7

1.4

3 .7

2.6

b .7

? .n

9 .1

7. Q

3 .r.

4 .3

#».1

3 .7

-4 .1

B —7 1

1.1

1.9

2 .4

2.2

l.C

3 .1

1.9

4 .7

5 .7

7 .4

*.1

i . p

7 .h

3 . :j

1 .1

-4 .1

-4 .1

C .l

0.8

0.1

0 .7

1.2
1.1

* -7 1

w
l

o

p.- 7 1

2.1
2.8

1C -7 1

4 -7 0

5 -7 0

0 .9




11 4 .3
11 5 .4
_________ 1 1 5 ^ JO.
1 1 4 . t*

6 -7 0

-0 .3

1.5

C .4

2 .7

3 .4

4 .5

3 .1

-C .9

- C . 7

-0 .6

- 3 .4

- 8 .1

-- l u . f t

—1 5 . 5

-C .3

1 .4

ti. 3

7 .4

1.1

4 .1

7. A

-O .ft

-o .# »

-0 .5

- 7 . 7

-* .1

-A .«

-8 .1

0 .0

7 -7 )

H -7 'i

9 -7 0

10 -7 0

11 -7 0

12 -7 0

2 -7 1

3 -7 1

4 -7 1

5 -7 1

6 -7 1

7 -7 1

9 -7 1

9 -7 1

IN IT IA L
„ A G I.. S E A S O N A L L Y

100

...

........... _ 1 1 3 . 4 _____
-2 0 . 9

11-7 0

2 -7 1

«

Q -7 1

111^8
111. 2 .
11 1 . 7

-a . 7

^

LO U IS

lO fc?

MONTH
1-7 1

ST.

N O V E M B E R _5 Lt__ 1 3 7 1
F O C O S ANO F E E D S *

- 1 1 - 1

5 -7 C

2 -7 *

llJ L * 4

ADJUSTED

WHOLESALF

_..7-.7u

.

9 -7 1

6 -7 0

IN IT IA L

4 -7 0

.lU f k + 9 .

-4 .1

2 .7

SfeASG N ALLY

* __*uL

TJ

11 A . 3
._ i.L 4 .a 6

2.6
3 -7 0

♦

112 -.8

-

3 .7

* - / 1

.

1 1 , U 0 -----------

............

3 .2

4. 1

7i

. ...

lL a -a

- i . i

7 .<*

J L C . - 7 1 ___

...

lll^ iL _ _

S .A

4 -7 ?

.. 6 - 7 1

.

.J J J Q . . 5

-4 .2

3. 1

2 .9
“ «7 •
»

LLQ «1
i i n . 3

2

1 -7 1

1 13 .0
1 1 3 . r>

MONTH

ADJUSTED

P ^PA PEO
HY F E C F * 4 L
N a m B J E ji^ ju ..iS 7 1

RESERVE

RANK

CF

S T • LO U t5

15
GENERAL
RATIO

PRICE

INDEX*

SCALE

RATIO

1958-100

SCALE

1958-100

*AS USED IN NATIONAL

INCOME ACCOUNTS

PERCENTAGES ARE ANNUAL RATES
LATEST DATA HO TTED.

O CHANCE
f

SOURCEi U .S. DEPARTMENT OF COMMENCE
FOR PERIOOS

INDICATED.

3RD QUARTER
PREFARED BY FEDERAL RESERVE BANK OF ST. LOUIS

IMPLICIT

P R I C E OEFLA TOR FOR GROSS NA T I ONAL PRODUCT
COMPOUNDED ANNUAL RATES_ OF „CHANGE _
_____

TERMINAJO
QUARTER

I N I T I AL

4 -6 6

1 -6 7

2 -6 7

3 -6 7

4 -6 7

1 -6 8

2 -6 8

3 -6 8

4 -6 8

______
1958

QUARTER

1 -6 9

2 -6 9

3 -6 9

4 -6 9

1 -7 0

2 -7 0

3 -7 0

4 -7 0

1 -7 1

2 -7 1

1 -6 7

2 .8

1 1 6 .2

2 -6 7

2 .4

2 -1

U 6 .8

3 -6 7

3 .0

3 .1

4 .2

4 -6 7

3 .5

3 .7

4 .5

1 -6 8

3 .5

3 .6

4. 1

2 -6 8

3 .6

3 .7

« .1

_A_.L_

3 .7

4

3-68

3.7

3. 8_ 4 . 2

4.2

3.9

4.2

4-6 8

3.8

3 .9

A* 2

4.2

4. 1

4.3

1-69

3xfl

4,0

4x2

4x2

4.1

.__4xi

4 - 70

Ax6

4.7

4 . 9 _ 5. Q

.5,0

3,1

5,2

1-71

A. 6

4, 7

Ax£_

5. 0

5.1

5x2_... 5. 3

.A»7

4x2

-¿.-.71....
3-71

4*6...
4 ,5
4-66

+4.2% ................-

2-67




.........
1 1 9 .4

- _.120 j A . _ _

3 .4 ^ ^

.4.^3

. 0

4*.9
3-6 7

\

4-67

1-68

......

_______________

_________ _

...12.1,6.

+ 4.8%

_
,._4x2. ...5x£L. ..JSxJ_

4 .1
1-67

1 1 8 .0

.... 4 . 8

5.3

5. 6

5,5

5xl_„

5.. 4

_5x_5

_5.*5

5. 4

5x4

5 x 2 ....5x3

5. 4

. _5x4_

5.2

_¿x4... . . ¿ A . . .

5 . Û____5 . G _ 5 . G____5 ,1
_
2-68

3-68

4-68

1-69

INITIAL

_5 .1
2-69

. 5. 7
5. Ì

. ..5 . 1

5.2

5.0

3-69

6.3

5.6

4.7

< .7
t

4-69

1-70

2-70

_141aJL

5.+1
,A*6____4x1____ 1x5___ 2jl3±
5-70

4-70

1- 71

2-71

QUARTER

PREPARED
NOVEMBER

BY F E C E RA L RESERVE
19, 1971

BANK OF

ST.

LOUI>

INVENTORIES

* RAT I OS B A S E D

ON S E A S O N A L L Y

COMPARED

ADJUSTED

WI TH

DATA.

MONTHLY

SOURCE*

SALES*

U . S . DEPARTMENT

OF COMMERCE

S H A D E D A R E A S R E P R E S E N T P E R I O D S OF B U S I N E S S R E C E S S I O N S
AS D E F I N E D BY THE N A T I O N A L BUREAU OF E C O N O M I C R E S E A R C H .
♦LATEST
 S A M P L E


DATA P L O T T E D : J U L Y ,
BEING R E V ISE D ).

AUGUST

AND S E P T E M B E R

P R E L I M I N A R Y ( P R I O R TO J U L Y , R E T A I L S A L E S
_
_
P R E P A R E D BY F E D E R A L R E S E R V E BANK OF S T. L O U I S

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