Full text of National Economic Trends : November 1981
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n n n o n n L E con omi c PREPARED M O N T H E N D IN G : BY FEDERAL O c to b e r 31, 1981 RESERVE BA N K trerds O F ST. L O U IS RELEA SED : N o v e m b e r 30, 1981 T h e re v is e d e s t im a te o f th e n a tio n 's r e a l G N P in th e th ir d q u a r t e r o f th is y e a r in d ic a te s t h a t p ro d u c tio n ro se fro m th e s eco n d q u a r t e r a t a 0.6 p e rc e n t a n n u a l r a t e . T h e re v is io n in d ic a te s t h a t in v e n to ry a c c u m u la tio n w as la r g e r in th e th ir d q u a r te r than o r ig in a lly e s tim a te d , and th a t r e a l f in a l s a le s (p ro d u c tio n le s s in v e n to r y a c c u m u la tio n ) d e c lin e d in e a c h o f th e la s t tw o q u a rte rs , a v e ra g in g a 2.5 p e rc e n t r a t e o f d e c lin e fro m th e f ir s t to th e th ird q u a r t e r o f th is y e a r . In v e n to r y a c c u m u la tio n w a s re v is e d u p w a rd fro m $10.3 b illio n to $14.0 b illio n (1972 p r ic e s ) fo r th e th ird q u a r te r , a c c o u n tin g fo r most o f a $4.6 b illio n in c re a s e in th e e s t im a te o f r e a l G N P . D e s p ite th is u p w a rd r e v is io n , r e a l G N P d e c lin e d a t a 0.5 p e rc e n t r a t e fro m th e f ir s t to th e th ird q u a r t e r o f th is y e a r . T h e re v is e d e s tim a te s o f co m p o n e n ts o f r e a l sp en d in g sho w t h a t th e sh arp est d e c lin e o c c u r re d in n e t e x p o rts, w h ich f e l l fro m $50.9 b illio n in th e f ir s t q u a r te r o f th is y e a r to $39.8 b illio n in th e th ird q u a r t e r (1972 p r ic e s ). D e s p ite a sh a rp in c re a s e in r e a l f e d e r a l p u rch a se s fo r n a tio n a l d e fe n s e in th e th ird q u a r te r , t o t a l r e a l f e d e r a l purch ases d e c lin e d a t a 2.7 p e rc e n t in th e p a st tw o q u a rte rs . S t a t e and lo c a l g o v e rn m e n t r e a l p u rch a se s f e l l a t a 4.1 p e rc e n t r a t e d u rin g th e p ast tw o q u a r te r s . A f t e r d e c lin in g in th e seco n d q u a r t e r , both r e a l n o n re s id e n tia l fix e d in v e s tm e n t and r e a l c o n s u m e r e x p e n d itu re s rose in th e th ir d q u a r te r , so th a t fro m th e f ir s t to th e th ird q u a r t e r th e y both h ave risen a t a b o u t a 1.0 p e rc e n t r a t e . R e c e n t m o n th ly d a ta on e c o n o m ic a c t i v i t y sho w s a m o u n tin g d e te r io r a tio n s in c e e a r ly in th e th ird q u a r te r . In d u s tr ia l p ro d u c tio n f e l l a t an a c c e le r a t in g r a t e in e a c h o f th e th r e e m on th s s in c e J u l y . F ro m J u l y to O c to b e r, in d u s tr ia l p ro d u c tio n d e c lin e d a t an 11.0 p e rc e n t r a t e . C iv ilia n e m p lo y m e n t d e c lin e d in e a c h o f th e th r e e m onths ending in O c to b e r, a v e ra g in g a 3.0 p e rc e n t r a t e o f d e c lin e . P a y r o ll e m p lo y m e n t d e c lin e d a t a 0.6 p e rc e n t r a t e fro m J u l y to O c to b e r. R e t a i l s a le s w e re s tro n g o v e r th e th r e e m onths ending in A u g u s t, e x p an d in g a t a 15.3 p e rc e n t r a t e , but d e c lin e d a t a 9.2 p e rc e n t r a t e fro m A u g u st to O c to b e r. U n e m p lo y m e n t in c re a s e d in th e th r e e m onths s in c e J u l y to 8.0 p e r c e n t o f th e c iv ilia n la b o r f o r c e , a f u ll p e rc e n ta g e p o in t a b o v e th e J u l y le v e l and h ig h e r than th e p r io r p e ak le v e l o f 7.6 p e rc e n t o b s e rve d a s r e c e n t ly as M a y 1981. T h e r a t e o f p r ic e in c re a s e has m o d e ra te d s u b s ta n tia lly th is y e a r . C o n su m e r p r ic e s rose a t a 9.6 p e rc e n t r a t e d u rin g th e f ir s t 10 m on th s o f th is y e a r , fo llo w in g a 12.4 p e r c e n t r a t e o f in c re a s e d u rin g 1980. P r o d u c e r p r ic e in c re a s e s h a v e s lo w e d e v e n m ore, ris in g a t a 7.5 p e rc e n t r a t e during th e f ir s t 10 m onths o f th is y e a r , a f t e r in c re a s in g a t an 11.9 p e rc e n t r a t e in 1980. T h e G N P im p lic it p r ic e d e f la t o r s lo w e d fro m a 9.8 p e rc e n t r a t e o f in c re a s e d u rin g th e fo u r q u a r te r s o f 1980 to an 8.5 p e rc e n t r a t e d u rin g the f ir s t t h r e e q u a r te r s o f th is y e a r . L a b o r c o s ts p e r u n it o f o u tp u t in th e p r iv a t e b u sin ess s e c t o r h a v e a ls o slo w ed . D u rin g th e f ir s t th r e e q u a r te r s o f th is y e a r , u n it la b o r c o s ts rose a t an 8.0 p e rc e n t r a t e , f o llo w in g a 10.2 p e rc e n t r a t e o f in c re a s e in 1980. H o u rly c o m p e n s a tio n rose a t ab ou t th e s a m e r a t e in both p e rio d s, but p r o d u c t iv it y rose a t a 2.4 p e rc e n t r a t e d u rin g th e f ir s t t h r e e q u a r te r s o f th is y e a r , in c o n tr a s t t o no ch a n g e d u rin g 1980. TOTAL CIVILIAN EMPLOYMENT C O M P O U N O E D A N N U A L R A T E S OF C H A N G E T E R M IN A L M ONTH IN IT IA L > 3-80 4-80 5-80 6-80 7-80 8-80 9-60 10-80 11-80 THO USAN D S OF PERSO NS M O N TH 12-60 1-81 2-81 3-81 —4 # 8 5-80 -3 *1 - 1 .3 6-80 - 3 .4 - 2 .7 - 4 .1 7-80 - 1 .9 - 0 .9 - 0 .7 2 .7 8-80 - 1 .5 - 0 .7 - 0 .5 1 .4 5-61 6-81 7-81 8-81 9-61 9 7 ,1 1 6 9 6 ,7 8 0 9 6 ,9 9 9 9 7 ,0 0 3 0 .0 9 7 ,1 8 0 9-80 - 0 .9 - 0 .1 0 .2 1 .7 1 .1 2 .2 10-80 - 0 .7 - 0 .0 0 .2 1 .3 0 .9 1 .3 0 .3 n - eo - 0 .4 0 .2 0 .5 1 .4 1 .1 1 .4 1 .0 1 .7 12-80 - 0 .5 9 7 ,2 0 6 9 7 ,3 3 9 9 7 ,2 8 2 0 .1 0 .3 1 .0 0 .7 0 .9 0 .4 0 .5 - 0 .7 1-81 0. 1 0 .6 0 .9 1 .6 1 .4 1 .7 1 .6 2 .0 2 .2 5 .2 2-81 0 .3 0 .9 1 .1 1 .8 1 .6 1 .9 1 .9 2 .2 2 .4 4 .0 2 .9 9 7 ,6 9 6 9 7 ,9 2 7 9 8 ,4 1 2 3-81 0 .8 1 .3 1 .6 2 .3 2 .2 2 .5 2 .6 3 .0 3 .3 4 .7 4 .5 6 .1 4 —8 1 1 .3 1 .8 2 .1 2 .7 2 .7 3 .1 3 .2 3 .7 4 .1 5 .3 5 .3 6 .6 7 .1 5-81 1 .4 1 .9 2 .2 2 .8 2 .8 3 .1 3 .2 3 .6 3 .9 4 .9 4 .8 5 .5 5 .1 1 .9 2 .2 2 .4 2 .5 3 .0 2 .0 2 .1 2 .2 2 .6 1 .1 1 .2 1 .1 1 .4 1 .1 1 .0 1 .0 1 .0 1 .2 8-8Ö 9-eo 1Ö -8Ö 11-80 12-80 1 .7 1 .6 1 .4 1 .6 2 .1 2 .0 2 .2 1 .3 1 .5 1 .9 1 .8 2 .0 0 .4 o • CD 1 .8 1 .2 0 .9 1 .2 1 .1 1 .2 0 .4 0 .7 0 .8 1. 1 1 .0 3-80 4-80 6-Ô 0 7-«) 6-81 4-81 9 7 ,2 2 5 4-80 0 .6 1 .0 7-81 1 .0 8-81 0 .9 9-81 10-61 5-Ô Ô 1 .7 1 .7 2 .3 INITIAL 1 .7 9 9 ,2 3 5 3 .2 9 8 ,3 9 2 - 3 .5 - 9 .7 1 .7 - 0 .1 - 1 .6 7 .2 1 .3 —0 . 1 - 1 .2 3 .4 - 0 .2 0 .6 - 0 .3 - 1 .7 - 2 .9 - 0 .5 - 4 .1 - 7 .9 0 .4 - 0 .3 - 1 .5 - 2 .4 - 0 .5 - 3 .0 - 4 .3 —0 . 6 2-81 3 —81 4-81 5-81 6-81 7-81 8-81 9-81 1 .4 - 0 .1 2 .6 2 .6 2 .2 2 .1 0 .9 0 .7 1-81 9 8 ,9 7 6 9 8 ,9 6 2 9 8 ,9 4 4 9 8 ,2 7 0 9 8 ,2 1 7 môWTh PAYROLL EMPLOYMENT COMPOUNOED ANNUAL RATES Of CHANGE IN IT IA L MONTH TERMINAL MONTH 3-80 4-80 5-60 6-80 7-80 8-80 9-80 10-80 12-60 1-81 2-81 3-81 - 0 .7 5-80 —2 . 8 - 4 .8 6-80 - 3 .4 - 4 .7 - 4 .7 7-80 - 3 .0 - 3 .7 - 3 .2 - 1 .7 8-80 - 1 .7 - 2 .0 - 1 .0 0 .9 3 .5 9-80 —0 . V - 0 .9 0 .0 1 .7 3 .4 3 .3 10-80 - 0 .4 —0 . 3 0 .6 1 .9 3 .2 3 .0 2 .8 11-80 - 0 .0 0 .1 0 .9 2 .0 3 .0 2 .8 2 .6 2 .4 0. 1 0 .2 1 .0 1 .9 2 .7 2 .4 2 .2 1 .9 6-81 7-81 8-81 9-81 9 0 ,0 8 7 ___ 8 9 , 9 6 0 9 0 ,2 1 9 9 0 ,4 6 1 9 0 ,6 6 8 9 0 ,8 4 4 1 .4 9 0 ,9 4 9 1-81 0 .3 0 .4 1 .1 1 .9 2 .5 2 .3 2 .1 1 .9 1 .6 1 .9 0 .5 0 .6 1 .2 2 .0 2 .5 2 .3 2 .1 2 .0 1 .6 2. 1 2 .2 3-8 1 0 .5 0 .6 1 .2 1 .9 2 .3 2 .2 2 .0 1 .8 1 .7 1 .8 1 .7 1 .2 1 .9 1 .8 1 .6 1 .7 1 .6 1 .3 1 .5 0 .6 5-81 90 »446 2-81 4-81 4-81 _ 9 0 j» 8 1 7 4-80 12-80 11-80 THOUSANDS OF PERSONS 0 .7 1 .2 1 .8 2 *2 2 .1 9 1 ,0 9 1 9 1 ,2 5 8 9 1 ,3 4 7 91 ,4 5 8 5 - 81 0. 7 0.8 1 .2 1 .8 2 .1 2 .0 1 .8 1 .7 1 .6 1 .6 1 .6 1 .3 1 .4 1 .4 6- 81 0.7 0 .8 1 .2 1 .7 2 .0 1 .9 1 .7 1 .6 1 .5 1 .5 1 .4 1 .2 1 .2 1 .0 0 .7 7-81 0 .8 0.9 1.4 1 .8 2 .1 2 .0 1 .9 1 .8 1 .7 1 .8 1 .7 1 .6 1 .8 1 .9 2. 1 9 1 ,5 6 4 9 1 ,6 1 5 9 1 ,8 8 0 3 .5 1.3 1 .7 2 .0 1 .9 1 .7 1 .6 1 .6 1 .6 1 .5 1 .4 1 .5 1 .5 1 .5 1 .9 0 .3 0.9 1 .2 1 .6 1.9 1.8 1 .6 1 .5 1 .5 1 .5 1 .4 1 .3 1 .3 1 .3 1 .3 1 .5 0 .4 0 .6 10-81 0 .6 0.7 1.0 1.4 1 .6 1 .4 1 .3 1 .2 1 .1 1 .0 1 .0 0 .8 0 .7 0 .6 0 .5 0 .4 - 0 .6 -1 .0 - 2 .6 3-Ô0 4-80 5—80 6-50 7-60 1-61 2 —0 1 3-81 4-61 3^-81 ¿- 6 1 7-61 8-61 9-81 B '- êC T 9 - 6 0 o 0.9 0 .8 f 0. 8 o 6-81 9 -8 1 II-Ô Ô 12-60“ INITIAL HKWTfl P- MKfcLIHINARY -------— O N O V E M B E R 6, 1981 9 1 ,9 0 1 91 , 9 4 8 P 91 , 7 4 3 P EMPLOYMENT RATIO SCALE MILLIONS OF PERSONS I IO ? ? 1 $ £ § s RATIO S E AS ONAL L Y SCALE MILL IONS OF PERSONS ADJ US TE D 1 1 10 \ i $ 1 % $ \ * H 1 105 105 +/. 8Z 100 TOTAL - 95 -2. OZ f t . 9z V LA -4. 3Z •- K IV 85 x PAYR OLL 4Z 80 75 75 V 70 65 90 -2. 4Z v: 80 9L7 / *0. 9Z 85 95 +2. OZ 0 90 100 70 5 ¡5 $ * ♦ ♦ § ♦ Si ♦ 1973 1974 $ * § t 1975 1976 1977 1978 t 1979 SOURCE: t 1980 t 65 1981 U.S.DEPARTMENT OF LABOR PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED. OCTOBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. UNEMPLOYMENT PERCENT S E A S O N A L L Y LOUIS RATE PERCENT A D J U S T E D ll.O 10. 10.C 9. 9. ( 8. ( Ï .( 6. C 5. ( 1. 4 .( 1973 1974 1975 1976 1977 1978 1979 SOURCE: U.S. 1980 1981 DEPARTMENT OF LABOR PERCENT OF CIVILIAN LABOR FORCE LATEST DATA PLOTTED: OCTOBER PREPARED 3 BY F E D E R A L RESERVE BANK OF S'. LOUIS C O N S U M E R P R 1 C E I N D E X FUR. A L L U R B A N C O N S O L E R S , S E A S O N A L L Y A D J U S T E D _____________________ 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 _____________________ T E R M IN A L M ONTH _______ __________________________________________________________ I N I T I A L 3-80 4-80 5-80 6-80 7-60 8-60 9-eo 10-80 11-80 M ONTH 1-8 1 12-60 _______ 2-81 3-61 ______________________________________ ________ 4-61 5-61 6-61 7 —8 1 8-61 2 4 2 .4 4-80 1 1 .0 5-80 1 1 .0 1 0 .9 6-80 1 1 .4 1 1 .7 1 2 .4 2 4 4 .5 2 4 6 .9 7-80 8 .7 8 .0 6 .6 1 .0 8-8C 8 .9 8 .4 7 .6 5 .2 9 .6 9-80 9 .6 9 .4 9 .0 7 .8 1 1 .4 2 4 7 .1 2 4 9 .0 2 5 1 .6 1 3 .3 10-80 10. 1 1 0 .0 9 .8 9 .1 1 2 .0 1 3 .2 1 3 .1 11-80 1 0 .6 1 0 .5 1 0 .5 1 0 .1 1 2 .5 1 3 .5 1 3 .6 1 4 .0 12-80 1 0 .8 1 0 .8 1 0 .7 1 0 .5 1 2 .5 1 3 .2 1 3 .2 1 3 .2 2 5 4 .2 2 5 7 .0 2 5 9 .5 1 2 .3 1-81 1 0 .6 1 0 .6 1 0 .5 1 0 .3 1 1 .9 1 2 .4 1 2 .1 1 1 .8 1 0 .7 9 .1 2-81 1 0 .8 1 0 .7 1 0 .7 1 0 .5 1 1 .9 1 2 .3 12. 1 1 1 .9 1 1 .2 1 0 .6 3-81 10. $ 1 0 .4 1 0 .4 1 0 .2 1 1 .4 1 1 .6 1 1 .4 1 1 .0 1 0 .3 9 .6 9 .8 7 .5 4-81 10. 1 1 0 .0 9 .9 9 .6 1 0 .7 1 0 .8 1 0 .4 1 0 .0 9 .2 8 .4 8 .2 6 .3 5 .1 5-81 9 .9 9 .9 9 .8 9 .5 1 0 .4 1 0 .5 1 0 .2 9 .8 9 .1 8 .4 8 .3 7 .0 6 .7 8 .4 6-81 9. V V. 8 9 .7 9 .5 1 0 .3 1 0 .4 1 0 .0 9 .6 9 .0 8 .5 8 .4 7 .5 7 .4 8 .6 2 6 1 .4 2 6 3 .9 12. 1 2 6 5 .5 2 6 6 .6 2 6 6 .4 2 7 0 .3 7-81 1 0 .2 1 0 .1 1 0 .1 1 0 .7 1 0 .8 1 0 .5 1 0 .2 9 .8 9 .4 9 .5 9 .0 9 .3 1 0 .8 1 2 .0 1 5 .2 8-81 1 0 .2 1 0 .2 1 0 .1 1 0 .0 1 0 .7 1 0 .8 1 0 .5 1 0 .3 9 .9 9 .6 9 .6 9 .2 9 .6 1 0 .7 1 1 .5 1 2 .8 1 0 .6 9-81 1 0 .5 1 0 .4 1 0 .4 1 0 .3 1 1 .0 1 1 .1 1 0 .9 1 0 .7 1 0 .4 1 0 .1 10. 3 1 0 .0 1 0 .4 1 1 .5 1 2 .3 1 3 .5 1 2 .7 1 4 .8 10-81 1 0 .1 1 0 .1 1 0 .0 9 .9 1 0 .5 1 0 .6 1 0 .4 1 0 .1 9 .8 9 .6 9 .6 9 .3 9 .5 1 0 .3 1 0 .7 1 1 .2 9 .9 9 .5 4 .4 3 —8 0 •t1 OD c 8 .8 9 .9 i>—8 0 6-8 0 7 —8 0 8-eo 9-80 10-80 11-80 12-80 1-81 2-81 3-61 4-61 5-81 6-61 7-61 8-61 9-81 IN IT IA L PR O O U C ER P R IC E IN D E X « IN IT IA L 2 7 Ì.8 2 7 9 .0 2 8 0 .0 COOOS ANNUAL RATES - SEA SO N A LLY O f CHANGE PREPA RED BY N O VEM BER 24, FED ERA L 1981 RESERVE BANK OF ST. L O U IS A D JU S T E D 1967 M ONTH » 100 I T E R M IN A L M ONTH 2 7 3 .5 M ONTH f IN IS H E D CO M PO U N D ED 9 .4 5-80 7 .5 4-80 5-60 6-60 7-60 8-80 9-60 ©| 3-60 4-80 11-60 12-60 1-81 2-81 5-61 6-61 7-61 8-61 9-61 2 4 2 .8 6 .4 7 .9 1 0 .3 1 1 .6 1 2 .6 1 6 .3 2 2 .6 8-00 1 2 .5 1 3 .3 1 6 .0 1 9 .0 2 4 4 .8 2 4 9 .0 1 5 .5 2 5 2 .0 9-80 1 1 .0 1 1 .3 1 2 .7 1 3 .5 9 .3 3 .4 10-80 1 1 .1 1 1 .4 1 2 .6 1 3 .2 1 0 .2 7 .6 1 2 .0 11-80 1 0 .8 1 1 .0 1 2 .0 1 2 .3 9 .8 8 .0 1 0 .4 8 .8 12-80 1 0 .1 1 0 .2 1 0 .8 1 0 .9 8 .7 7 .1 8 .3 6 .5 252 .7 2 5 5 .1 2 5 6 .9 2 5 7 .8 4 .3 1-81 1 0 .5 1 0 .7 1 1 .3 1 1 .5 9 .7 6 .6 9 .9 9 .2 9 .5 1 4 .9 2-61 1 0 .5 1 0 .6 1 1 .1 1 1 .2 9 .7 8 .8 9 .9 9 .3 9 .5 1 2 .2 9 .6 3-61 1 0 .9 1 1 .0 1 1 .6 1 1 .7 1 0 .4 9 .7 1 0 .8 1 0 .6 1 1 .0 1 3 .3 1 2 .6 1 5 .6 4-61 1 0 .8 w 4-61 5 .6 7-60 ? 3-61 2 4 1 .7 6-80 5-81 1967 *1 0 0 9-61 2 6 0 .8 2 6 2 .8 2 6 6 .0 1 0 .9 1 1 .4 1 1 .5 1 0 »4 9 .7 1 0 .7 1 0 .5 1 0 .8 1 2 .5 1 1 .7 1 2 .7 9 .9 1 0 .4 1 0 .8 1 0 .9 9 .8 9 .1 9 .9 9 .6 9 .7 1 0 .8 9 .9 9 .9 7 .2 4 .6 1 0 .1 1 0 .4 1 0 .5 9 .4 8.8 9 .4 9.1 9 .2 1 0 .0 9 .1 8 .9 6 .8 5 .3 6 .0 2 6 8 .1 2 6 9 .1 ^ 6-81 1 0 .0 7-81 9 .6 9 .6 9 .9 9 .8 8.8 8 .3 8 .8 8.4 6 .3 8.9 6 .0 7 .7 5 .7 4 .4 4 .3 2 .7 8-61 9 .2 9 .2 9 .4 9 .4 8 .4 7 .9 8 .3 7 .9 7 .6 8 .3 7 .3 7 .0 5 .3 4 .2 4 .1 3 .1 3 .6 9-81 8 .8 8 .8 9 .0 8 .9 8 .0 7 .4 7 .8 7 .4 7 .2 7 .6 6 .7 6 .3 4 .6 3 .8 3 .6 2 .8 2 .9 2 .2 10-81 8 .7 8 .7 8 .9 8 .8 7 .9 7 .4 7 .7 7.3 7 .2 7.5 6 .7 6 .3 5 .1 4 .3 4 .2 3 .8 4 .2 4 .5 6 .8 3-60 4 —8 0 5-60 7-60 8-60 9-60 10-60 11-60 12-60 1-61 2-61 3-61 4-61 5-61 6-61 7-61 8-61 9-61 6-6 0 IN IT IA L 2 7 0 .4 2 7 1 .0 2 7 1 .8 272 .3 273 .8 M ONTH PfcEPÀREO 6 V F E D E R A L R E S E R V E B A N K O F S T . L O U I S N O V E M B E R 10, 1 9 6 1 4 PR I CES RATIO SCALE I 967-100 C P I- U FOR ALL DATA PLO TTED. IN D IC A TED . OCTOBER PREPA RED BY FED ERAL RATIO P R O D U C E R SC A LE P R I C E S PERC ENTAG ES ARE ANNUAL RATES OF CHANCE FOR P E R IO D S LA TEST I 967-100 URBAN CONSUMERS PERC ENTAG ES ARE ANNUAL R ATES OF CHANCE FOR P E R IO D S LATEST RATIO SCALE SEASONALLY ADJUSTED DATA PLO TTED: R ESER V E BANK OF S I . L O U IS RATIO SC A LE IN D ICA TED . OCTOBER PR EP AR ED BY F E D E R A L R E S E R V E BANK OF S I . LOUIS PRODUCER P R IC E IN D E X * F IN IS H E D CONSUMER FOOOS - SEA SO N A LLY AO JU S TED _________________ CPMPOUMOEO ANNUAL R A T E S OF CHANGE ________________ T E R M IN A L MONTH _______________________________________________________________ _________________ I N I T I A L 6-80 7-80 8-80 9-80 4-80 - 1 4 .9 5-80 - 5 .3 5 .3 6-80 - 1 .4 6 .2 7 .0 7-60 1 0 .2 2 0 .2 2 8 .3 5 4 .0 8-80 1 5 .2 2 4 .2 3 1 .2 4 5 .3 3 7 .0 9-80 1 3 .7 2 0 .4 2 4 .5 3 1 .0 2 0 .8 10-80 1 2 .9 1 8 .4 2 1 .1 2 5 .0 1 6 .6 7 .5 8 .5 11-80 1 1 .7 1 6 .2 1 8 .1 2 0 .4 1 3 .3 6 .3 6 .2 12-80 1 0 .4 1 4 .1 1 5 .4 1 6 .9 1 0 .6 4 .8 1-81 9 .4 1 2 .5 1 3 .5 1 4 .4 8 .9 4 .0 2-81 7 .8 1 0 .4 1 0 .9 1 1 .5 6 .4 3-81 8 .2 1 0 .5 1 1 .1 1 1 .5 7 .1 o 5-80 ? 4-80 o 3-80 11-80 M O N TH _______________________________________________________ _____________________ ____________ 1 9 6 7 12-80 1-81 2-81 3 —8 1 4-81 5-81 6-81 7-81 * 100 9-81 8-81 2 2 9 .8 2 3 0 .8 2 3 2 .1 2 4 0 .6 2 4 7 .0 2 4 8 .3 6 .5 250 .0 3 .9 250 .8 4 .3 2 .2 0 .5 250 .9 3 .4 1 .8 0 .7 1 .0 2 .0 1 .2 —0 . 6 - 2 .1 - 3 .3 - 7 .4 3 .4 2 .9 1 .8 1 .3 1 .6 1 .9 2 5 1 .1 2 4 9 .5 2 5 1 .9 1 2 .2 2 5 1 .6 4 —8 1 7 .4 9 .5 9 .9 1 0 .2 6 .1 2 .8 2 .3 1 .3 0 .8 0 .8 0 .8 5 .2 - 1 .4 5-81 6 .9 8 .8 9 .1 9 .3 5 .6 2 .6 2 .1 1 .2 0 .8 0 .9 0 .8 3 .7 - 0 .2 1 .0 6-81 6 .8 8 .6 8 .8 9 .0 5 .6 2 .9 2 .5 1 .8 1 .5 1 .7 1 .8 4 .3 1 .8 3 .4 5 .9 7-81 7 .3 9 .0 9 .3 9 .4 6 .4 3 .9 3 .7 3 .2 3 .1 3 .4 3 .9 6 .3 4 7 .0 1 0 .2 1 4 .7 8-81 7 .0 8 .6 8 .8 8 .9 6 .0 3 .8 3 .6 3 .1 3 .0 3 .3 3 .6 5 .6 4 .3 5 .8 7 .5 8 .3 2 .4 9-81 6 .6 8 .1 8 .2 8 .3 5 .6 3 .5 3 .3 2 .8 2 .7 3 .0 3 .2 4 .9 3 .7 4 .7 5 .7 5 .6 1 .4 0 .5 10-81 6 .1 7 .4 7 .6 7 .6 5 .1 3 .1 2 .8 2 .4 2 .2 2 .4 2 .6 3 .9 2 .7 3 .4 4 .0 3 .5 0 .0 - 1 .2 - 2 .8 3 —8 0 4 —8 0 5-80 7 —8 0 8-80 9—8 0 i ó —èo 11-80 12-80 1-81 2-81 3-81 5-81 6-81 7-81 8-81 9-81 6 —8 0 4-61 2 5 1 .8 2 5 3 .0 _ 2 5 5 .9 2 5 6 .4 2 5 6 .5 2 5 5 .9 tiüiTiÄ!.-*»™ PRO D U C ER P R IC E IN D E X , F IN IS H E D C O M PO U N D ED 8-80 9-80 T E R M IN A L M ONTH IN IT IA L 3-80 4-80 &O O D S, ANNUAL 4-80 5-80 6-80 7-80 10-60 11-80 12-80 E X C L U D IN G F O C O S R A T E S OF CHANCE SEASO N ALLY A D JU S T E D ' IO N T H 1-81 1967 2-81 3-81 4-81 5-81 6-81 7-81 8-81 * 100 9-81 1 8 .9 5-80 1 2 .0 5 .5 6 —8 0 1 1 .6 8 .4 1 1 .3 7-80 1 2 .3 1 0 .2 1 2 .6 1 3 .9 8-80 1 1 .6 9 .9 1 1 .4 1 1 .4 9 .0 9 —8 0 1 0 .0 8 .4 9 .1 8 .3 5 .6 10-80 1 0 .5 9 .2 1 0 .0 9 .6 8 .2 7 .9 1 3 .6 11-80 1 0 .5 9 .4 1 0 .0 9 .8 8 .8 8 .7 1 2 .0 1 0 .3 12-80 9 .9 8 .8 9 .3 9 .0 8 .0 7 .8 9 .7 7 .8 1-81 1 0 .9 1 0 .0 1 0 .6 1 0 .5 9 .9 1 0 .1 1 2 .1 1 1 .6 1 2 .2 1 9 .7 2-81 1 1 .2 1 0 .5 1 1 .1 1 1 .0 1 0 .6 1 0 .9 1 2 .7 1 2 .5 1 3 .2 1 7 .4 1 5 .1 3-81 1 1 .7 1 1 .0 1 1 .6 1 1 .6 1 1 .4 1 1 .7 1 3 .3 1 3 .3 1 4 .0 1 7 .1 1 5 .8 1 6 .5 4-81 1 1 .8 1 1 .3 1 1 .8 1 1 .8 1 1 .6 1 2 .0 1 3 .4 1 3 .3 1 4 .0 1 6 .2 1 5 .1 1 5 .1 1 3 .7 5-81 1 1 .4 1 0 .8 1 1 .3 1 1 .2 1 1 .0 1 1 .2 1 2 .4 1 2 .2 1 2 .5 1 4 .0 1 2 .6 1 1 .8 9 .5 5 .4 6 —8 1 1 1 .0 1 0 .5 1 0 .9 1 0 .8 1 0 .6 1 0 .7 1 1 .7 1 1 .4 1 1 .6 1 2 .7 1 1 .3 1 0 .4 8 .4 5 .9 6 .3 7-81 1 0 .2 9 .7 1 0 .0 9 .9 9 .6 9 .6 1 0 .4 1 0 .0 1 0 .0 1 0 .6 9 .2 8 .0 6 .0 3 .6 2 .7 8-81 9 .9 9 .3 9 .6 9 .5 9 .1 9 »! 9 .8 9 .4 9 .3 9 .8 8 .4 7 .4 3 .6 3 .7 3 *1 2 4 5 .3 2 4 7 .5 2 5 0 .2 252 .0 2 .4 2 5 2 .5 2 5 5 .2 2 5 7 .3 2 5 8 .4 5 .3 2 6 2 .3 2 6 5 .4 2 6 8 .8 2 7 1 .7 2 7 2 .9 2 7 4 .3 2 7 4 .1 - 0 .9 1 .5 4 .0 2 7 5 .0 1. T 10-81 9 .5 8 .9 9 .2 9 .0 3-80 4-80 5-80 6-80 8 .7 7-80 8 .7 9 .2 8-6Ô 9-80 8 .8 10-80^ 8 .7 11-80 9 .0 tf-60 7 .9 1-8 IT 7 .0 5 .7 3-41 4 .5 “4 - é l 4 .3 3 .8 5-81 6-81 5 .4 6 .0 9 .5 r- è i 8-81 9-81 IN IT IA L MÖNTH PR6PÀRED ftV F E D E R A L R E S E R V E ÏA > * NOVEMBER 10* 1981 ùf- S T . LÙU1S I N D U S T R I A L RATIO P R O D U C T I O N SCALE RATIO I 967-100 PERCENTAGES ARE ANNUAL RATES OF CHAN6E FOR PERIODS SCALE 1967-100 SEASONALLY ADJUSTED INDICATED. LATEST DATA PLOTTED t OCTOBER PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S ’ . LOUIS INDUSTRIAL PROOUCTION CONFOUNDED ANNUAL RATES OF CHAHfeC terminal MOUTH --------- 4-$Q__________ 3-9 Q 4-80 —26+6_______ 5-60 -26.6 - 3 0 .3 H O - S S ? 6 -9 Q 7 - y >___g-flO 3-gl 4-01 3-61 6-81 7-01 8-61 9-61 143 »8 - 1 9 y3 -21.3 -1 9 .7 -13.7 8-60 -14.9 - U . 7 1 4 j f 4i- - 6 .9 3 .4 140.3 17.5 ___ L tl___ 8*8 10*9 - 2 .1 1*2 , 2 20*2_________ 144.4 146,6 4 .7 11.4 19.2 20.1 19.9 7*7 1 3 .e 20*3 21*2 2 1 .7 2 9 .0 I3 .| 18*3 - U - ÇO____-2^8 1 * - ? °____=1^5 12-4Q___I r f t l ___2-81 1967 * lOO 140.2 7—00 _ 1Q-9Q____^6*1 ï rtQ . IQ - 9 Q ll~ 9 Q _ _ - ¿4*6 ---=9,9 _____________ IN IT IA L HONTH 18*3 _ 149*2 17 .7 2 3 .5 1 6 ,6 10,1 1 3 0 ^-4. 1-61 - 0 .6 2 .9 0 .0 12.4 2-61 -0 .2 2 .9 7 .5 11.2 14.5 14.0 12.7 11.0 7 .2 5*7 3*2 0 .0 2*9 7 .0 10.2 12.9 12.2 10.9 9 .2 5 .9 4 .6 2 .8 2 .4 4-81 -0.5 1 2*5 6 .2 9 .0 11.2 10.4 9 .1 7 .4 4 .4 3*0 1 .3 0*4 -1.6 5-01 0 .3 2*0 6 .2 8 .7 10.7 10.0 0.7 7.2 4 .7 3 .7 2 .6 2 .4 2.4 6 .5 6-61 0 .4 2*7 5*0 0 .1 9.8 9 .1 7.9 6 .5 4 .3 3.4 2 .4 2 .2 2.1 4 .0 1 .6 7-01 0 .9 _ 3t 1 6 .0 0 .1 9.7 9 .0 7.9 6 .7 4*0 4 .0 3 .3 3*4 3.6 5 .4 4 .0 0 .1 •-01 0*7 2 .7 5 .4 7 .4 0*7 0.0 2*4 2.4 3.4 2 .4 2 .0 7.0 5.0 4 .0 3*2 2 .5 151.8 151.9 152.7 152.9 153.9 153.6 - 2 .3 *-81 -0 .1 1.7 4.1 5 .0 7.0 6.2 5.1 3*9 2*1 1*2 0 .4 0 .0 —0.4 -0.2 -1 .0 - 2 .8 -7*9 -1 3 .2 151.8P 10-61 -1.1 0 .6 2 .0 4 .3 5.2 4 .4 3.3 2.0 0 .2 -0 .7 - 1 .7 - 2 .3 -2.9 -3 .1 - 5 .0 - 6 .5 -11.0 -1 5 .0 -16.7 149.5P 3-60 4-00 5-00 6-60 7-60 0-60 9-60 10-00 11-BO 12-60 1-01 2-01 3-61 4-61 5-61 6-61 7-61 6-61 9-61 IN IT IA L HONTH PRELIMINARY PREPAREO BY FEDERAL N O V E M B E R 13» 1901 7 RESERVE BANK O F ST. LOUIS P E R S O N A L R A T II/ S C A L L I N C O M E MONTHLY TOTALS AT ANNUAL RATES TRILLIONS OF DOLLARS s e a s o n a lly RATIO SCALL TRILLIONS OF DOLLARS ADJ US TED 2.7 2 2 . 2.6 > 2.5 2.4 ) 2. ? 2. ; 2. 2. C I. 0.< SO U R C E : PERC EN TA G ES '.A T E S T ARE ANNUAL R A T E S OF CHANGE FO R P E R IO D S DATA P L O T T E D : O CTO BER U .S . DEPARTM EN T OF COMMERCE IN D IC A T E D . P R E L IM IN A R Y PREPA RED BY F E D E R A L RESERVE BANK OF L O U IS PERSONAL INCOME COMPOUNDED ANNUAL RATES OF CHANGE IN IT IA L T E K H IN a L M ONTH 3-d 0 v-80 5-80 6-BO 7-80 8-60 9-80 10-60 11-80 B IL L IO N S OF DOLLARS ANNUAL RATES M O N TH 12-60 1-81 2-81 3-61 4-61 5-61 6-81 7-61 8-61 9-81 2 »102»1 0.6 4-60 _2 fi l4f 1 ______L t J ____ 1 * 1 — 2 > 127«1 kz&St______________ 1±±____ 1±ìl_ 7 —8 0 8»8 1 1 »7 14»1 2 1 «0 a-ao 9 ,2 1 1 *4 1 2 .9 1 5 .7 î r ftV____ 10,2 2 ,1 6 1 ,2 2 » 1 7 9 ,4 1 0 .6 12.2 13.6 15.6 13.0 15.5 10-80 11.1 13,0 14.2 15.9 14.2 16,1 16,7 11-80 1 1 .4 13,0 14,0 15,4 14,0 15.1 15.0 13,3 12-6C 11,3 12,7 13,5 14,6 13,3 14,0 13,5 11,9 10,6 1-61 11,5 12,8 13,5 14,4 13,3 13,9 13.5 12.4 12.0 13.5 2-81 11.3 12.5 13.1 13.8 12,8 13.1 12.7 11.7 11.2 11.5 3-81 11.4 12.4 13.0 13.6 12.7 13.0 12,6 11,8 11,4 11,7 4-61 11,1 12,0 12.4 12.9 12.1 12.2 11.8 11.0 10.5 10,5 5-81 10,8 11,6 12,0 12,4 11.6 11.7 11.2 10.4 10.0 9 .8 6-81 10.6 11.4 11.7 12.1 11.3 11.4 10.9 10.2 9 .8 9 .7 7-81 11.1 11.9 12.2 12.6 11.9 12.0 11.7 11.2 10.9 10.9 8-81 11.3 12,0 12,3 12,6 12.0 12,2 11,9 11,4 11,2 11,2 9-81 11.2 11.8 12,1 12.4 11.8 11*9 11.6 11.2 11,0 11,0 10-81 10,9 11,6 11,8 12,1 11,5 11,6 11 ,3 10,8 10,6 10,6 10,3 10,4 10,2 10,7 11 ,4 12,1 9 ,9 8 ,2 5-80 6—80 7^80 8-60 9-80 10-60 11-80 12-60 1-81 2-81 3-81 4-81 5-81 6-81 7-61 8HJ1 3-80 4-80 2 * 2 0 5 ,7 2 * 2 3 4 ,3 _ 2 * 2 5 7 ,6 2 ,2 7 6 ,6 2 * 3 0 0 .7 9 ,5 10,8 _ 2 * 3 1 8 .2 12,1_________ 2 ,3 4 0 .4 9 .6 9 .0 8 .9 10.5 10,9 10.7 10,9 9 ,6 8 .8 8 .8 10.7 11,2 7.7 10.4 11.0 10,7 7,1 7.1 11.4 8 .0 11.5 12,0 12.5 2 * 3 5 3 .8 7 .2 2 ,3 6 7 .4 8 ,9 ____ 13.8 1 3 .6 13,8 2 ,3 8 4 .3 18.8 16.1 2 ,4 1 8 .8 13.4 11*3 9 ,3 IN IT IA L MONTH 2 ,4 4 4 .2 __ 2 .4 6 2 .4 7.2 2 ,4 7 6 .7P 9H&T ~ P- PRELIMINARY PREPARED BY FEDERAL N O V E M B E R 18* 1981 8 RESERVE BANK OF ST. LOUIS RETAIL RATIO SALES SCALE 1973 RATIO 1974 1975 1976 1977 1978 1979 SOURCEt PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS LATEST DATA PLOTTED« SEPTEMBER. U.S. 1980 SCALE 1981 DEPARTMENT OF COMMERCE INDICATED. OCTOBER ADVANCE ESTIMATE PREPARED BY FEDERAL RESERVE BANK OF ST. R ET A IL SALES COMPOUNDED A l*U *A LOUIS CHANGE TERMIHAL NONTH HIIWIQHS OF DOLLARS 3-80 4-80 5-60 6-60 4-BO - 1 7 .0 5-BO - U t9 - 6 .5 *-•0 1.2 1 1 .B 33.8 7-60 7 .5 17.2 31.2 28 .6 8-60 7 .0 14.1 21.9 16.3 7-60 8-60 9-60 10-60 11-60 12-60 1-61 2-61 3-61 4-61 5-61 6-61 7-61 6-61 9-61 76*404 75 *97 > 77*843 79 *491 79*629 5.2 9-BO 7 .9 1 3 .B 19.5 15.1 8.8 12.6 10-80 8 .9 13.9 18.5 15.0 10.8 13.7 14.8 11-80 10.1 14.7 18.7 15.6 12.9 15.5 IT . 1 19 .4 12-80 10.2 14.1 17.4 14.9 12.3 14.2 14.6 14 .7 *>•629 81*552 82*764 83*443 10.3 1-81 12.3 16.1 19.3 1 7 .4 15.6 17.8 19.1 2 0 .6 21.2 33.2 2-81 13.0 16.6 19.5 17.8 16.3 18.3 19.4 2 0 .6 2 1 .0 26 .6 20 .6 3-81 12.9 16.1 18.6 17.1 15.7 17.3 18.1 16.6 16.6 21 .5 16.0 4-81 9 .6 12.4 14.3 12.5 10.8 11.5 11.4 10.8 9 .2 6 .9 1.8 - 6 .4 -21.5 5-81 8 .7 10*9 12.5 10.8 9.1 9.6 9 .2 6 .4 6 .7 6 .0 0 .1 - 5 .9 -13.6 - 4 .8 6-81 10.0 12.2 13.8 12.3 10.9 11.5 11.3 10.9 9 .8 9 .7 5 .5 2 .0 -1.0 11.2 29.9 7-81 9 .3 11.3 12.7 11.2 9.9 10.3 10.1 9 .6 6 .4 6.2 4 .5 1.5 -0.9 7.1 13.7 - 0 .5 85*463 66*810 11.6 67*608 65,655 85*501 67.364 97^350 13.1 11.7 10.5 11.0 10.8 1 0 .4 9 .5 9 .4 6 .4 4 .1 2.7 9 .9 1 5 .3 6 .6 18.4 12.2 10.8 9.7 10.0 9.8 9 .4 ® »4 8^ 5 .4 3 .4 2.1 7.7 1 1 .0 5 .4 8.4 10—81 7 .6 9 .2 10.2 8 .9 7.7 7.8 7 .5 6 .9 5 .6 5 .4 2 .7 0 .6 -0.8 3.1 4 .8 - 0 .7 3-80 4-80 5-BO 6-80 7-60 8-60 9-60 1-61 2-61 3-81 4—81 5-61 6-61 o O T 11-60 T 3 11.7 11.0 M 9 .8 9 .2 o 8-81 9-81 W j5 9 1 68 »536P - 0 .8 - 9 .2 -16.9 87.179E 7-81 8-61 9-61 IN IT IA L NONTH P- PRELIMINARY E- E S T I M A T E D PREPARED BY FEDERAL N O V E N D E R 12» 19« I _ - 0 .7 RESERVE BANK OF ST. LOUIS HOURLY COMPENSATION, PRIVATE BUSINESS SECTOR C O M P O U N D E D A N N U A L R A T E S O f CHANGE T E R M I N A L ________________________ ________________ ' _________ I N I T I A L Q U A R T E R ________________________________________________________ ___ __________ 1 9 7 7 « 1 0 0 Q U A R T E1T 4-76 1-77 2-77 3-77 4-77 1-77 6 *9 2-77 7 .2 7 .6 3-77 7 .6 8 .0 4-77 7 .4 7 .6 7 .6 6 .9 1-78 7 .9 8 .1 8 .3 8 .3 9 .7 2-78 7. V 8 .2 8 .3 8 .3 9 .0 1-78 2-78 3-78 4-78 2-79 1-79 3-79 4-79 1-60 2-80 3-80 4-80 1-81 2-81 9 7 .1 9 8 .9 1 0 0 .9 8 .3 1 0 2 .6 1 0 5 .0 1 0 7 .1 8 .2 3-78 8 .1 8 .3 8 .4 8 .4 8 .9 8 .6 8 .9 4-78 8 .2 8 .4 6 .6 8 .6 9 .1 8 .9 9 .2 9 .5 1 0 9 .4 1-79 8 .6 8 .8 9 .0 9 .1 9 .6 9 .5 1 0 .0 1 0 .5 2-79 8. V 9 .1 9 .3 9 .4 9 .8 9 .9 1 0 .3 1 0 .7 1 1 .4 1 1 .2 3-79 8 .9 9 .1 9 .3 9 .4 9 .7 9 .7 1 0 .0 1 0 .3 1 0 .6 1 0 .2 9 .1 4-79 8. V 9 .0 9 .2 9 .3 9 .6 9 .6 9 .8 1 0 .0 1 0 .1 9 .6 8 .8 1 1 1 .9 1 1 .6 1 1 5 .0 1 1 8 .1 1 2 0 .7 1 2 3 .2 8 .5 1 2 6 .4 i —8 0 9 .0 9 .2 9 .3 9 .4 9 .7 9 .7 9 .9 1 0 .1 1 0 .2 9 .9 9 .5 9 .7 1 0 .8 2-BO 9 .2 9 .4 9 .6 9 .7 1 0 .0 1 0 .0 1 0 .2 1 0 .4 1 0 .6 1 0 .4 1 0 .2 1 0 .5 1 1 .5 1 2 .2 3-80 9 *3 9 .4 9 .6 9 .7 9 .9 1 0 .0 1 0 .1 1 0 .3 1 0 .4 1 0 .2 1 0 .0 1 0 .3 1 0 .9 1 0 .9 1 3 0 *1 9 .5 1 3 3 *1 4-80 9 .2 9 .4 9 .5 9 .6 9*8 9 .8 1 0 .0 1 0 .1 1 0 .2 1 0 .0 9 .8 1 0 .0 1 0 .3 1 0 *1 9 .1 8 .7 1-81 9 .4 9 .5 9 .6 9 .7 1 0 .0 1 0 .0 1 0 .1 1 0 .3 10 *4 1 0 .2 1 0 .1 1 0 .2 1 0 .6 1 0 .5 1 0 .0 1 0 .2 1 1 .7 2-81 9 .4 9 .6 9 .7 9 .8 1 0 .0 1 0 .0 1 0 .2 1 0 .3 1 0 .4 1 0 .2 1 0 .1 1 0 .3 1 0 .5 1 0 .5 1 0 .1 1 0 .2 1 1 .0 1 0 .4 3-81 9 .4 9 .6 9 .7 9 .8 9 .9 1 0 .0 1 0 .1 1 0 .2 1 0 .3 1 0 .1 1 0 .0 1 0 .1 1 0 .4 1 0 .3 9 .9 1 0 .0 1 0 .4 9 .8 9 .2 4 —7 6 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-7Ó 1-79 2-Vv 3-79 4-79 1-80 2-éò 3-èo 4-80 1-81 2-81 4-80 1-61 2-81 1 3 5 .9 1 3 9 .7 1 4 3 .2 14 6 *4 I N I T I A L ÓuÀfcTÌR- O UTP UT PER HOUR OF A LL C O M PO U N O ED T E R M IN A L Q UARTER PERSO N S. ANNUAL 1 N IT IA L 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 P R IV A T E RATES OF B U S IN E S S SECTOR CHANGE QUARTER 2-79 1-79 1977 3-79 4-79 1-80 2-80 3-80 * 100 9 9 .5 1-77 5 .8 2-77 2 .7 - 0 .4 3-77 3 .5 2 .4 5 .3 4-77 2 .1 0 .9 1 .6 1-78 1 .2 0 .1 0 .3 - 2 .2 - 2 .4 2-78 1 .2 0 .3 0 .5 - 1 .1 —0 . 6 9 9*4 1 0 0 *7 - 2 .0 1 00 *2 9 9 *6 9 9 *9 1 .2 3-78 1. 1 0 .3 0 .5 - 0 .7 - 0 .3 0 .8 0 .4 4-76 0. V 0 .2 0 .3 - 0 .6 - 0 .3 0 .4 0 .0 - 0 .4 1-7V 0 .7 0 .1 0 .2 - 0 .7 - 0 .4 0 .1 - 0 .3 -0 *6 2-7V 0 .6 0 .1 0 .2 —0 . 6 - 0 .3 C .l - 0 .2 - 0 .4 - 0 .4 0 *0 3-79 0. 5 - 0 .0 0 .0 —0 . 6 - 0 .5 - 0 .1 - 0 .4 —0 . 6 - 0 .7 -0 *6 - 1 .2 4-79 0 .3 -0. 1 - 0 .1 - 0 .7 —0 . 6 - 0 .3 - 0 .5 - 0 .7 - 0 .8 -0 *8 - 1 .2 1-80 0 .4 0 .0 0 .0 - 0 .5 - 0 .3 - 0 .1 - 0 .2 - 0 .3 - 0 .3 -0 *2 - 0 .3 0 .2 1 .6 2-80 0 .3 - 0 .1 - 0 .1 —0 . 6 - 0 .4 - 0 .2 - 0 .4 -0 *5 - 0 .5 - 0 .5 - 0 .6 - 0 .4 0 .0 - 1 *6 3-80 0 .4 - 0 .0 0 .0 - 0 .4 - 0 .3 - 0 .1 - 0 .2 - 0 .3 - 0 .3 - 0 .2 - 0 .2 0 .0 0 .4 -0 *2 1 .2 4-80 0 .3 -0. —0 . 1 - 0 .5 - 0 .4 - 0 .2 - 0 .3 - 0 .4 - 0 .4 - 0 .3 - 0 .4 - 0 .2 0 .0 -0 *5 0 .0 -1*2 1-81 O .i 0 .2 -0. 1 0 .0 0 .2 0 .1 0 .1 0 *2 0 *3 0 .3 0 .6 1 .0 0*8 1 *6 1*8 4 *9 2-81 0 .7 0 .4 0 .4 0. 1 0 .3 0 .5 0 .4 0 .4 0 .5 0 .6 0 .7 1 .0 1 *3 1*3 2 *0 2*3 4 *1 3 *2 3-81 0 .6 0 .3 0 .4 0 .0 0 .2 0 .4 0 .3 0 .3 0 .4 0 .5 0 .5 0 .8 1*0 0 *9 1*5 1*5 2 *4 1 *2 -0 *8 A —7 6 1-77 ¿- > 7 5-77 4-7/ i- 7 8 "2 - '7 è 4-78 1-79 2-79 i- 7 9 4-79 1-60 ¿- eo > -80 4-60 1-61 2-81 I 0 .2 1 0 0 *0 "3 - 7 T T 9 9 *9 9 9 *7 - 0 .8 I n it ia l 9 9 *7 9 9*4 99*1 - 1 .2 99*5 99*1 99*4 9 9*1 1 0 0 *3 101*1 100*9 q u a r t er ^ f t éfrÀRED B Y F E Ò E R A L N O V t N B E R 25. 1981 10 RESERVE BANK O F ST * LOUIS PRODUCTIVITY, R AT I O COMPENSATION, AND LABOR COSTS SCALE RATI O 1977-100 1973 1974 1975 1976 1977 1978 1979 SOURCEi PERC ENTAG ES ARE ANNUAL R ATES OF CHANGE FOR P E R IO D S L A TEST OATA PLO TTED; S CA LE 1977-100 SEASONALLY ADJUSTED U S 1980 . 1981 DEPARTMENT OF LABOR IND ICA TED . 3RD OUARTER » c o .o c CSFRVE BANK OF S T . L O U IS U N IT LA BO R C O S T S » P R IV A T E B U S IN E S S SEC T O R CO M PO U N D ED A N N U A L R A T E S OF C H A N G E _______________________________ INITIAL QUARTER_______________________________ T E R M IN A L 1977 " < ® A k m _____________ 4 - 7 6 1-77 2-77 3-77 4-77 1-78 2-78 3-78 *-7 8 1-79 2-79 3-79 4-79 1-60 2-BO 3-BO 4 -6 0 1 .2 2-77 4 .4 7 »6 3-77 3 .9 i> .2 2 .8 4-77 5 .1 6 .5 5 .9 9 .1 100 9 9 .5 _ 1-78 6 .5 7 .9 8 .0 1 0 .6 1 2 .2 2-7e 6 .7 7 .8 7 .8 9 .6 9 .8 7 . 4 ______________ 3-78 6. V 7 .8 7 .9 9 .2 9 .2 7 .7 1 0 5 .4 8 .1 1 0 7 .3 _ 112.1 4-78 7 .3 6 .2 8 .3 9 .4 9 .5 8 .6 9 .1 1 0 .2 1-79 7 .8 8 .7 8 .8 9 . 9 1 0 .0 9 .5 10 . 2 1 1 .3 1 2 . 3 __________ 2-79 8 .2 9 .0 9 .1 1 0 .1 1 0 .2 9 .8 1 0 .4 1 1 .2 1 1 .7 1 1 .2 1 1 8 .5 3-79 8 .3 9 .1 9 .2 1 0 .1 1 0 .2 9 .9 1 0 .4 1 1 .0 1 1 .2 1 0 .7 1 0 .2 4-79 8 .5 9 .2 9 .3 1 0 .1 1 0 .2 9 .9 1 0 .3 1 0 .8 1 0 .9 1 0 .4 1 0 .0 9 .9 1-80 8 .5 V.l 9 .3 9 .9 1 0 .0 9 .8 1 0 .1 1 0 .5 1 0 .5 1 0 .1 9 .7 9 .4 9 .0 1 2 4 .3 1 2 7 .0 2-8C 8 .9 9 .5 9 .7 1 0 .3 1 0 .5 1 0 .3 1 0 .6 1 1 .0 1 1 .1 1 0 .9 1 0 .8 1 1 .0 1 1 .6 1 4 .2 3-80 8 .9 V .4 9 .6 1 0 .1 1 0 .2 1 0 .0 1 0 .3 1 0 .6 1 0 .7 1 0 .4 1 0 .3 1 0 .3 1 0 .4 1 1 .2 4-80 8 .9 9 .4 9 .6 1 0 .1 1 0 .2 1 0 .0 1 0 .3 1 0 .5 1 0 .5 1 0 .3 1 0 .2 1 0 .2 1 0 .2 1 0 .6 8.8 9 .3 9 .4 9. V 1 0 .0 9 .8 1 0 .0 1 0 .2 1 0 .2 9 .9 9 .7 9 .7 9 .6 9 .8 8.7 9.1 9.2 9.7 9.7 9.5 9.7 9.8 9.8 9.5 9.3 9.2 9.1 9.1 7.8 8 .8 9.2 9.3 9.7 9.7 9.6 9.7 9.9 9.8 9.6 9.3 9.2 9.3 8.3 8.4 8.0 1=77 7=71 3—7 7 4-77— 1=75— 2=75— 5=75— *=75— 5=79 4=79 1-60 2-60 3-80 4-60 4 - 7 ¿>— * 2-81 9 7 .7 1-77 2-81 1-81 i-?9 ---------------------- -------------------------------------------------- m n * L 2 -7 9 8 .9 137.0 9 .6 7 .2 8.3 10.3 1=91— 2-61 145.1 QUARttR 11 fHRÊPARËD B Y F E D E R A L R E S E R V E NOVEMBER 25, 1981 BANK O F ST. LOUIS G R O S S N A T IO N A L P R O D U C T I N C U R R E N T D O L L A R S C O M PO U N D ED A N N U A L R A T E S O f C H A N G E ___________ _______________________ B IL L IO N S OF 1 -J i 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 ANNUAL R A T ES Q UARTER 1-79 _ 2-79 4-60 1-8 I 2-80 2-81 l- e o 3-80 3-78 4-78 _4“ 7 6 4-77 1-78 _ 2 -7 8 3-79 4-79 1-77 2-77 1 ,8 3 9 .1 1-77 JJ> .9 2-77 1 4 ,2 1 2 .» 1 ,8 9 3 * 9 1 * 9 5 0 .4 3-77 1 3 ,6 1 2 .5 1 2 .5 4-77 1 2 .2 n .o 1 0 .3 8 .1 1-79 1 1 .6 10. 5 9 .9 8 .6 9 .1 2-78 _ J3 * Q 1 2 .4 1 2 .4 1 2 .4 1 4 .7 2 0 .5 3-78 1 2 .9 1 2 .4 1 2 .3 1 2 .3 13.8 1 6 .2 1 1 .9 4-78 1 3 .2 1 2 .8 1 2 .9 1 3 .0 14 .2 1 6 .0 1 3 .8 1 5 .7 1-79 1 3 .2 1 2 .8 1 2 .9 1 2 .9 1 3 .9 15 .2 1 3 .4 1**2 2-79 1 2 .4 1 2 .0 1 2 .0 1 1 .9 1 2 .6 1 3 .3 1 1 .5 1 1 .4 9 .2 5 .9 3-79 1 2 .4 1 2 .0 1 2 .0 1 1 .9 12 .5 13 .1 1 1 .6 1 1 .6 10 .2 9 .0 4-79 1 2 .1 1 1 .8 1 1 .7 1 1 .6 12 .0 12 .5 1 1 ,2 1 1 .0 9 .9 9 .0 1 0 .5 8 .8 1 -8 0 12 . 1 1 1 .8 1 1 .8 1 1 .7 12 .1 1 2 .5 1 1 .4 1 1 .3 10 .4 9 .9 1 1 .2 1 0 .7 12.6 2 —00 11. 1 1 0 .8 1 0 .6 1 0 .5 10 .7 10.9 9 .7 9 *4 8 .4 7 .6 8 .0 6 .6 5 .6 -1 .1 1 0 .0 9 .7 8 .9 8 .3 8 .8 7 .9 7 .6 5 .2 3 -8 0 1 1 .2 4 -8 0 1 -8 1 1 ,9 9 8 * 6 2*0 3 2 *4 1 1 .0 2 *1 2 9 *6 2*190*5 2 * 2 7 1 .9 2 ,3 4 0 * 6 1 2 .7 2 »374*6 2 * 4 4 4 .1 1 2 .2 2 .4 9 6 * 3 2 .5 7 1 * 7 2*564*9 2 .6 3 7 * 3 1 0 .8 1 0 .7 1 0 .6 10 .8 1 1 .4 1 1 .1 1 1 .0 1 0 .9 11.1 1 1 .3 1 0 .5 1 0 .3 9 .6 9 .2 9 .8 9 .3 9 .4 8 .3 1 3 .3 1 4 .9 1 1 .9 1 1 .6 1 1 .5 1 1 .5 1 1 .7 1 2 .0 1 1 .2 li.l 1 0 .7 1 0 .4 1 1 .1 1 0 .9 11.3 1 0 .9 1 5 .3 1 7 .Q 1 9 .2 2-81 1 1 .4 1 1 .2 1 1 .1 1 1 .0 11 .2 11 .4 1 0 .7 1 0 .5 1 0 .0 9 .8 1 0 .2 1 0 .0 10.1 9 .7 1 2 .5 1 2 .8 1 1 *7 4 .7 3 -6 1 1 1 .4 1 1 .1 1 1 .0 1 1 .0 11 .2 11 .3 1 0 .6 1 0 .5 10 .1 9 .8 1 0 .2 1 0 .0 10.2 9 .7 1 2 .0 12*1 1 1 .2 7 .4 4 -7 6 1 -7 7 2 -7 7 3 -7 7 4 -7 7 1-78 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 IN IT IA L IN IT IA L 2 .7 3 0 * 6 2 .9 8 5 * 8 1 0 .2 2 -8 1 1972 OF D O LLA RS CHANGE B IL L IO N S O F D O LLARS ANNUAL R A T E S Q UARTER 4.t I £ 9 .6 2 -7 7 7 .4 1-77 2 -7 7 1 Q UARTER 1 -7 7 4 -7 7 1-78 2 -7 8 3 -7 8 4 -7 8 2 ,9 5 6 * 6 Q UARTER 6 R 0 S S N A T IO N A L P R O D U C T I N C O M PO U N D ED A N N U A L R A T E S TE R M IN A L 11*9 2 -7 9 1 -7 9 3 -7 9 4 -7 9 1 -8 0 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 1* 3 4 5 .9 5 .3 1^363*4 3 -7 7 7 .2 6 .0 6 .7 4 -7 7 5*8 4 .5 4 .2 1 .7 1 -7 8 5*3 4 .2 3 .8 2 .4 3.1 2 -7 8 5 .9 5 .1 5 .1 4 .5 6*0 9 .0 3 -7 8 5 .6 4 .9 4 ,9 4 .* 5 .3 6 .4 3 .9 4 -7 8 5*6 5 .0 4 ,9 4 .6 5 .3 6 .1 4 .7 5 .4 1 * 3 8 5 .8 1*391*5 1 * 4 3 2 .8 1 * 4 4 6 .7 1* 46 5.9 5 .4 4 ,9 4 ,8 4 .5 5.1 5 .5 4 .4 4 .6 3 .9 4 .6 4, 1 4 .0 3 ,6 3 .9 4 .0 2 .8 2 .5 1 .0 -1 .7 3 -7 9 4 .6 4 .1 4 .0 3 .6 3 .9 4 .0 3 .1 2 .9 2 .0 1 .1 4 -7 V 4 .3 3 .8 3 .6 3 .3 3 .5 3 .6 2 .7 2 .4 1 .7 1 -8 0 4 .2 3 .7 3 .6 3 .3 3 .5 3 .5 2 .7 2 .5 2 .0 2 -8 0 3. 1 2 .6 2 .4 2 .0 2 .0 1 .9 1.1 0 .7 -0 .1 n1y 3 .0 2 .6 2 .4 2 .0 2 .1 2 .0 1.2 0 .9 4 -8 0 3 .1 2 ,7 2 .5 2 .2 2 .2 2 .1 1.5 1 -8 1 3 .4 3 .0 2 ,9 2 .6 2 .7 2 .6 2 .1 2 -8 1 3. 1 2 .8 2 .6 '¿,'i 2 .4 2 .3 1.8 3 -8 1 3 .0 2.t> 2 .5 2 .2 2 .3 2 .2 4 -7 6 1 -7 7 2 -7 7 3 -7 7 4—77 1-78 0 00 1 -7 9 2 -7 9 1* 4 7 9 .9 1 * 4 7 3 .4 4. 1 ^ g g .2 1 .0 2 .3 1 .4 9 0 .6 1 .5 2 .6 1 .8 3.1 -0 .9 -0 .7 -2 .2 -3 .6 -9 .9 0 .2 -0 .4 -€ . -1 .1 -1 .7 -4 .0 1.2 0 .7 0 .2 0 .6 -0 .1 -0 .3 -1 .4 3. 1 3 .8 1.9 1 .5 1 .2 1 .7 1 .3 1.4 1 .0 4 .9 6 .1 8 .6 1 .6 1 .2 0 .9 1 .2 0 .8 0 .9 0 .5 3 .2 3*5 3*4 -1 .6 1 .7 1 .5 1 .2 0 .9 1 .2 0 .8 0 .8 0*5 2 .7 2 .8 2 .4 -0 .5 0 .6 2 -7 8 3 -7 8 4 -7 8 1 -7 9 2 -7 9 3 -7 9 4-7 9 2 -8 0 3 -8 0 4 -8 0 1 -8 1 2 -8 1 IN IT IA L 1 0 .6 1 ,5 0 1 * 9 1-8 0 1 ,4 6 3 * 3 1 .4 7 1 * 9 2 .4 1 .4 9 5 * 6 1 ,5 1 6 .4 1 .5 1 0 * 4 1 .5 1 2 * 9 Q UARTER P R E P A R E D B Y F E D E R A L R E S E R V E B A N K O F ST. L O U I S N O V E M B E R 1 9» 1 9 8 1 12 GROS S N A T I O N A L R A T 10 SCALE TR I L L I O N S Q U A R T E R L Y OF DOLLARS T O T A L S AT S E A S O N A L L Y PRODUCT A N N U A L RATIO R A T E S T R IL L IO N S A D J U S T E D OF SCALE DOLLARS 3. 3. 3. 0 2 . 9 2 . 8 . 6 7 2 . 2 5 2 . 2 4 . 3 2 . 2 . 2 . 2 . 2 1 0 . 9 . 8 . 7 . 9 . 8 . 7 . 6 . 5 . 4 0 973 974 1975 1977 1976 1978 SO URCE : P E R C E N T A G E S A RE LATEST PLOTTED: DATA A N N U A L R A T E S 3RD OF C H A N G E F O R P E R I O D S 1979 U.S. 1980 D E P A R T M E N T 1981 OF C O M M E R C E INDIC ATED . QUARTER PREPARED 13 BY FEDERAL RESERVE BANK OF ST. LOUIS G E N E R A L RATIO P R I C E I N D E X * SCALE RATIO 1 9 7 2 - 1 0 0 SCALE 1 9 7 2 - 1 0 0 1973 1974 1975 *A8 USED IN NATIONAL 1976 1977 1978 INCOME ACCOUNTS 1979 SOURCE: U.S. 1980 1981 DEPARTMENT Of COMMERCE PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR PERIODS INDICATED. LATEST DATA PLOTTED: 3RD QUARTER PREPARED BY FEDERAL RESERVE BANK OF S . LOUIS IM P L IC IT P R IC E D EFLA TO R FO R G RO SS N A T IO N A L PRO DUCT A N N l M l K A TES Q F _£ h a _N Q £_________________ ______________ ________________t P H P W N P E P T E K H I NAL_____ _______ ______________ _______ _ ___________________ I N I T IA L QUARTER____ _________ ____ ______ _ . _________ 1972 - 100 QUARTER 4-76 1-77 1-77 2-77 3-77 4-77 1-78 2-78 3-78 4-78 1-79 2-79 3-79 4-79 1-80 2-80 3-80 4-60 1-91 2-81 1 36 * 6 4 . -5 . . Ï . 138.91 2-77 6 .3 6 .8 3-7 7 6.0 6.1 ».4 4-7 7 6. 1 6 .2 5.8 6 .3 1-78 6.0 6.1 5.8 6.0 5. 8 2 —78 6.6 7.0 7.0 7.5 8.2 10 .6 3-78 6.9 7.1 7 .1 7.6 6.0 9 .2 7.7 4-78 7.2 7 .» 7.6 8.0 8.5 9.4 8.7 9.8 140 .7 5 142.91 1 4 4 .9 3 1 48 *« 1 51 ,4 1 _1 54 *Si _1 58 *1£ 1-79 7 .4 7.6 7 .7 6.1 8.4 9.1 8 .6 9 .1 8 .4 2-79 7.4 7.6 7 .7 8.0 6.3 8.9 8.4 8.7 8.1 7.8 8.3 8.5 8 .0 7.8 3 -79 7.5 7.6 7 .7 8 .0 8.3 8 .7 4-79 7 .5 7 .7 7.8 8 .0 8.3 8. 6 8.3 8.4 8.1 7.9 164 .2 3 7.8 8.0 1*7*47 8.1 7 .7 7.8 7.9 8 .2 8.4 8 .7 8.4 8.5 a> 1 7 1 *2 ? i-eo 8.3 8.4 8.7 9.3 2-80 7.8 8.0 6. 1 8.3 6.5 8.8 8.6 8.7 8.5 8 .6 8 .8 9.1 9.5 9.8 3-80 7.9 8.1 8.1 8 .4 8.6 8.9 8.7 8.8 8.6 8 .7 8.8 9.1 9.4 9.5 9.2 _ ..8*1 __e»2 .2d? 8.9 9*9 9.2 9*4. 9.8 9 .9 19*9 1 75 .2 8 179*18 1 8 3 .8 L 19*7 8t8 2*9 8*9 1-81 9 .2 ____ ________ 8 .4 8 .6 ____ 8*6 9 .1 8 .9 ____ 2*1____ 2*42____ 5*1____ 2jl2____ 2*5____ 2*5____ 2 *2 ____ 2 *5 ___1 0 » ?____ 2 * f l _ 2 -81 8 .1 8 .2 8 .3 8 .» 8 .7 8 .9 8 .7 8 .8 8 .7 8 .8 8 .9 9 .Q 3-61 8 ,1 8 *3 6»4 6 .6 8 .7 6 .9 8 .6 8 .9 8 .8 8 .6 8 .9 9 .1 ____ 2*2____ 2 *2 ____ 2*1____ 2*1 ____ 8*^ ____7 .9 _____9 . » 4 -7 6 1-7 7 2 -7 7 3 -7 7 4 -7 7 1-78 2 -7 6 3-7 8 4 -7 6 1-7 9 2 -7 9 . f i t ? .. 8.6 . 3 -7 9 188*14 9 .2 ____ 2*2____ 2t_2____ 2 *2 ____ S_t£____ £ *4 ________ _______ 191.06 4 -7 9 1 -6 0 2 -8 0 3 -8 0 4 -8 0 1-6 1 19î>*44^ 2 -8 1 INITIAL QUARTER P R E P A R E O B Y F E D E R A L R E S E R V E BANK O F ST. LOUIS N O V E M B E R 1 9* 1981 14 r'kKSONAL 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 U R R E N T D O L L A R S _____________ C O M P O U N D E D A N N U A L R A T E S OF C H A N G E _____________ BILLIONS OF 0 C H . L A R S____ ANNUAL RATES INITIAL QUARTER I I Rf l l NA L QUARTER ArTfr____1= 12 __ ¿--7.7__ 3 - 7 7 1 - 7 8 ___ ¿L=Z£__ 4-77 ¿=22__ 4 - 7 6 1-79 2-79 3-79 4-79 1-80 2-80 3-60 4-80 I -01 2-81 _ l r J 7 ____ ü u * 1 11*3.9 ,7->9 . - ¿ - 7 7 ______l i u i L , - 1 - 2 7 ____ LiixJ____ v . 4 10.V A - J 7 _____ L U a ; l i t ? ____U .t.% i V *> _ L l21I ^ 4 _ -lr.2£____ I S U i ____ 9 * 8 10,5 1.0» •> ■ ■ ¿rife______L U - fe L2 *l IiU l_ .1 1 « ? _1i 2 5 4 ^ _ _ U 1 7 9 ^ 7 * 9 - .. -L U i__ LI*2_ ______L L » _ I . - 1 1 * > ____L 2 jl2 ____L L t i ____U ^ k ____ l± ± & ____U t > -ft-.7fc______U x J ____i l ^ L ____L 2 ^ > ____L L * y J L r T t ______I 2 * U 1 1 *6 1 2 * 9 ____ 1 4 * 2 1 2 * 3 ______________ 1 2 * 5 -A«36_9_y9_ . lA s ± 1 3 . 8 ____1 2 * 6 I* 4 l6 .6 _ L f u i_ 1 2 *7 1 1 *0 I #478*0 -2--7V_____ L L t ^ ____L U 2 ____L L l 6 ____l i * 7 11*5 1 2 * 3 ____L U 1 ____LQ±y _ - 3 - 7 9 ______1 1 *1 ____1 1 ± 9 _____________ 1 2 * 1 12*0 1 2 * 7 ____L L s lS ____L L s ^ ___ 1 0 * 7 1 0 *6 1 1 * 4 _______________________ _____________________1 1 . 7 1 1 *9 1 4 *6 1 4 *7 1 2 * 4 ____L L t i ____1 1 * 9 1 2 *2 1 4 *0 1 3 *8 10*1 8 *6 ■ fr-7?______U t ^ A l , $ ____- U t ? l Zt<* - L = £ b ____ U * U 2-eu 1 1*0 10 tV n *1 »3 3-80 11*2 I 1t l 11 4 —80 11*6 11 11 1-81 1 1 . fc 11 *7 1 1♦v 8 *9 1 4 *6 1 0 .6 10*3 9 *7 9 .4 1 1 .6 11*0 10*8 10*3 10*2 10*9 1 2 *1 11*6 1 1 .5 11*2 1 1 .2 1 2 *0 12*3 1 1*9 1 1 .8 1 1 .5 1 1 .6 1 2 *3 11 *9 1 1 *1 11*0 11*3 1 1 *4 1 1 *3 11*8 11*8 11*9 l >582*3 1»631*0 I »626*8 5 *7 - 1 .0 10*0 8 *5 6*4 1 4 .3 11*5 1 0 *7 9 .9 15*9 1 7 .4 1 1 .4 1 1 .0 15*3 1 5 .8 I »751*0 1 4 .2 2-81 11*3 11*2 11 *4 11*> 1 1 .4 1 1 *7 1 1 .2 I L* 1 10*8 1 0 .7 11*2 1 0*8 10*1 9 .6 12*4 1 1 .8 9 .1 4 .3 3-81 1 1 .4 >1 13 u .5 1 1 .6 1 1 .5 U .8 n .4 11*3 1 1 .0 11*0 1 1 .5 1 1 *1 10*6 10*2 1 2 .6 12*2 10*5 8*7 13*3 4-76 1- 7 7 2- 77 3-/7 4-77 1-78 2-76 3-78 4-78 1- 7 9 2-7 v 3- 7 9 4-79 1 - 80 2-80 3-80 4 —8 0 1—8 I 2-81 IN IT IA L PERSO N AL Q UARTER C O N S U M P T IO N E X P E N D I T U R E S I N 1972 Q U L L A R S C O M PO U N D ED A N N U A L R A T E S O F C H A N G E Ö1LL1UNS UF __ DOLLA R S __ ANNUAL RATES T E R M IN A L Q UARTER 4-76 1-77 6 *1 2-77 4*0 1-/7 2 -77 3-77 4-77 1-78 2-78 3-78 4 .3 3 *4 4»? 5 *0 4*6 6 .0 7*1 _ l- 7 u 4*2 ?*£ 4*4 4. 1 1*3 4 . fc 4*S> » .2 5 .3 4 .4 7 .7 _ _ 5.« 2 4 *5 6 *2 4 *8 _ **8 6 .0 5 *1 5*5 _ 4 ,e _ 4 —7t< 4.6 4 ,7 ?*2 I jlZ 4*2 4*6 4 .* * .0 4.7 3 .7 3*2 3 *6 3_sJL 3 .7 _ 3*1 . 3 ?> 2 .5 1*7 - Ir JS .. _^ t9 . 3 *7 Ji± 9. . _ 3* V 3 *7 3-60 t- 2-80 3—8 0 4-80 1-61 2-8 -913>4 0*V -0 *1 92 5 *5 -1 .2 922 *8 It? 2 *9 2 *4 1 *4 1*7 4 .7 3*6 3 *4 3 *7 3 .0 2 .7 2 .0 2 .3 h +1 3*6 3* 6 3 *5 3*1 3 *3 2 .7 2*3 1 *7 1 *9 3 .0 2 *2 2 *4 2 *4 2 .2 I . 7 1 .8 1 .0 0 .5 - 0 *3 - 0 *5 - 0 .4 - 2 .0 -4 *7 - 9 .8 2 *9 2»*> 2 .0 2 .1 1 .5 1 *1 0 .5 0 *4 0 *7 -0 *3 -1 *5 - 2 .7 5*1 ?*9 2 *9 2*fc 2 *5 2 *0 I* 7 1 .3 1 *3 1 *7 1*1 0 *6 0 .5 6 *1 7 *1 3 *0 1 *6 1 .8 6*0 6 .4 5 .8 3* 7 . 2 *6 1-80 9 1 1 *2 3* v . 4-79 884, I 4*4 . 3-79 9 0 0 *6 1- T V 2- e c 2-79 ¿8X.3 _ 2 - J2 _ 4-79 1-79 8 5 1 *9 3-77 _^ -7 t 4-78 1 *9 4-77 2 —7 t 2 *9 3 *6 913_„4 — 9.4.1 1 6 943*4 0 *8 9 1 9 *3 — 3 *1 1 -81 3 *2 3*0 3 ti _ 2 *7 2*8 2 *4 2 *1 1 .8 1 *9 2 *3 1 *9 2 - 81 2 *9 2*7 2* t 2 *6 2 *3 2 .4 2*0 1 *7 1 *4 1 .4 1 *7 1 .3 1 *0 1 *0 3 *9 3 *5 1 .8 Jt 3 *8 1 3 .0 ¿.8 2 .9 2 .7 2*4 2 .5 2* 1 1 *9 1 *6 1 .7 2 *0 1 *7 1.4 1 .5 3 .9 3 .6 2 .5 0*9 4.< 1 -7 7 > -/7 3-/7 4-77 1- /8 2-78 3-78 4-78 1-79 2-79 3 - 79 4 - 79 1- 80 2-80 3-80 4-80 1 - ttl 2-81 i3Qt9 946*8 A - fii' 4-76 1 »887*2 - 9 6 0 ,2 955*1 964*6 INITIAL QUARTER P R E P A R E D 8 V F E O E R A L R E S E R V E BANK U F ST. LOUIS N O V E M B E R 19, 1 9 8 1 15 GROSS PRIVATE OOMESTIC INVESTMENT IN CURRENT DOLLARS ______________COMPOUNDED ANNUAL RATES O f CHANGE _____________ TERMINAL ___________________________I N IT I A L QUARTER________ ________ BILLIONS Of OQLLARS ______ QUART Eft ANNUAL RATES 1 - T fr___ i _ 7 7 _ - 1 -77 ^ - ¿ - 7 7 _____ „ Z r j l ___ ¿ " 7 7 _ 4 - /7___ _________ izis. ___ fL- I f i ____________ 1-79 ¿- 7 9 3-79 4-79 1-60 2-90 3-60 4-80 1-61 2 9 6 .8 ¿ 9 ^ _________________ 3 1 £ ,7 diti Z î t 9 - Z Z t è ___________________________________________________ ______ ____ ________________________________________________________________________________________________ 4-77 2 7 .0 1 7 . 0 ____U t ? 1-78 ¿ 5 . 2 ___ l i d i ___ H - ^ - 7 7 _____ 2 -6 1 t 4 — _LO_ 3 3 6 .2 it 3SOt7 -¿ -7 S ¿ 6 t7 ¿ Q t6 __ lih_£__ 1 7 .2 ¿ 6 .2 3 4 ,5 _3 - 7 6 2 3 .0 17» 5 1 7 .9 1 7 .7 15 »2 X 3 .5 _ 2 . 9 __________ - A = I £ ____ 2 U 8 ___ ________ 1 4 ^ 9 ___ _ \ 6 f$__________l b * i _____8_. 0 _ 3I M 3 8 0 .4 ________ 392 . 6 1-7V ¿ 1 . 2 ____1 6 » V 1 5 . 2 ____1 4 , 0 1 6 .8 1 6 ,4 1 0 ,9 1 5 .2 1 7 , 0 ____________ 406.3 2-79 2 0 .6 1 5 .2 1 6 .6 1 6 .2 1 2 .0 1 5 .3 1 6 .2 1 5 .4 4 2 3 .2 1 2 . 1 ____1_3±8____ 1 3 ^ 1 _____ ± * 2 ____1 0 . 9 1 0 .0 6 .7 -3.-79________ l ± t -fci.79___1P.t. 7._ U l- e o 1 4 .9 2- e o il. -3r.8Ç______9 ^ v _ 4-60 1 1 ,6 1 4 .2 1 3 .3 1 0 .1 9 .0 10.6 3-81 1 2 .3 1 0 .0 4-76 1-7 7 J ___ - 2 , 4 —2 , 9 - 3 .4 - 7 ,6 - 9 .6 - 9 .1 - ¿U 7 - 2 ,3 - 5 ,2 - 8 ,6 - 1 0 ,6 - 1 0 ,6 - 1 7 ,7 - 1 3 .4 2. 0 0 .6 - 1 .5 .1 - 4 .6 - 3 .0 - 5 .7 3 .5 2. 1 4 .7 ____ 7 * 6 ____ ^ _ L l2 3-7 7 ___ i t U ___ fLtS___ Ï*S_ 5 .9 4-77 1-78 2-7 8 3-7 8 4 - 76 6 .7 4 .8 1-7 9 2- 79 3-7 9 1-77 4 1 .8 2-77 3 1 .6 2 2 .1 1 2-78 2 9 .8 33*0 2U2 1 3 .7 2 1 .7 2 1 .1 1 0 .3 0 .4 1-6 0 2-8 0 3-80 4-80 1-81 2-81 D O LLARS IN IT IA L O F Q UARTER D O LLA RS ANNUAL “R A T ÏS 4-78 1-79 2-79 3-79 4-79 2-80 2 5 .3 1 7 .7 1 3 .6 1 6 .2 8 .7 2 .6 - 7 .2 1-78 1 6 .3 1 0 .6 7 .0 3 .9 1 6 .4 2-78 1 6 .0 1 1 .5 9 .0 7 .5 1 5 .7 1 5 .0 3-78 1 2 .6 8 .4 5 .8 3 .9 8 .0 4 .0 —6 . 0 1 1 .5 7 .8 5 .6 4 .0 7 .1 4. 1 - 0 .9 4 .4 4-80 1-81 2-81 2 2 0 .6 2 1 6 .5 2 2 4 .9 2 3 2 .9 2 2 9 .3 2 3 1 .8 1-79 1 1 .4 8 .1 6 .3 5 .1 7 .8 5 .7 2 .8 7 .5 1 0 .6 2-79 1 0 .4 7 .4 5 .7 4 .6 6 .7 4 .9 2 .5 5 .5 6 .0 1 .7 3-79 8 .4 5 .5 3 .8 2 .7 4 .2 2 .3 - 0 .1 1 .4 0 .5 - 4 .2 - 9 .8 4-79 5 .9 3 .2 1 .4 0 .2 1 .1 - 0 .9 - 3 .3 - 2 .7 - 4 .4 - 9 .0 - 1 3 .9 - 1 7 .8 1-80 5 .0 2 .4 0 .8 - 0 .4 0 .4 - 1 .5 - 3 .6 - 3 .2 - 4 .7 - 6 .2 - 1 1 .2 - 1 1 .9 - 5 .7 2-80 2 .1 - 0 .4 - 2 .1 - 3 .4 - 3 .0 - 5 .0 - 7 .2 - 7 .4 - 9 .2 - 1 2 .7 - 1 6 .0 - 1 8 .0 - 1 8 .1 - 5 .5 - 7 .5 - 7 .7 - 9 .3 - 1 2 .3 - 1 4 .8 - 1 6 .0 - 1 5 .5 - 2 0 .0 - 1 0 .0 3-80 3-80 2 1 3 .7 3-77 QD 17*3 2 0 3 .3 4-77 * 11 .2 6 .9 B IL L IO N S CD 1-78 4-79 P R IV A T E D O M E S T IC IN V E S T M 6 N T IN 1 9 7 2 C O M PO U N D ED A N N U A L R A T E S O F C H A N G E T E R M I N A L ________________________________________________________________________________ Q UARTER 4-77 2 3 .7 QUARTER _ 3-77 _ m_.j_ ____ '¿a I ____ i i 9 ____ ________ L f V ____ ^ 4 ____ 5 * 2 ____ £*_2___ LÎL*_1___3 4 ^ 4 ___4 5 ^ 9 6L*I____ 2±1____ ^ 6 ____ ^ 7 ____ L l O _ 2-77 390t9 —0 , 3 G RO SS 1-77 4 1 5 .6 5 ,6 _ 1 .6 INITIAL 4-76 - 4 K>yp - Q .4 _ L l9_ 2-7 7 4 2 1 .7 ~19t6 1 .7 5 ,8 13,0 t l _____ b -Pri _____ i± 3 _____ ¿ ^ 9 ____- o . l 1 0 .7 -Irsi________ IQ*Q. _ 5 i 6 _____6 ^ i_____ ± - Q-t-9 9 .9 ____ 6 ^ 2 _ 7 ,0 <>t9. 2-81 - 1 .4 __ 9j±__ULl*__ _____ l t é __ k±Z__ ÎLtü__ &-t6_ 1 0» o 1 6 .7 1 .3 - 1 .1 4-80 1 .9 - 0 .4 1-61 3 .0 1 .0 2-81 3 .7 1 .8 3-81 3 .6 4-76 238 . 7 2 3 2 .6 2 2 1 .5 2 1 8 .3 2 0 0 .5 - 2 8 .8 1 9 5 .3 - 4 .0 - 3 .7 - 1 .8 - 2 .9 - 2 .5 - 4 .1 - 5 .8 - 5 .8 - 7 .0 - 9 .3 - 1 1 .0 - 1 1 .2 - 9 .5 - 1 0 .7 0 .0 1 1 .1 - 0 .3 - 1 .2 - 0 .7 - 2 .0 - 3 .4 - 3 .2 - 4 .0 - 5 .6 - 6 .7 - 6 .1 - 3 .6 - 3 .1 7 .4 1 7 .4 2 4 .1 0 .7 - 0 .1 0 .4 - 0 .7 - 1 .9 - 1 .5 - 2 .1 - 3 .4 -4. 1 - 3 .2 —0 . 5 0 .5 9 .6 1 7 .0 2 0 .1 1 6 .2 1 .8 0 .7 —0 . 1 0 .4 —0 . 6 - 1 .7 - 1 .4 - 1 .9 - 3 .0 - 3 .6 - 2 .7 —0 . 4 0 .5 7 .7 1 2 .6 1 3 .2 8 .1 0 .5 1-77 2-77 3-77 4-T7 ' 1-7B" 2-78 3-78 4-78 1—7 9 2-79 3-79 4-79 1-80 2-80 3-80 4 —8 0 1-81 2-81 - 2 .7 2 3 7 .7 2 0 0 .5 2 1 1 *6 2 1 9 .7 2 2 0 .0 INITIAL QUARTER — PREPA RED WT FED ERA L R E SE R V E BANK O f "ST. L O U IS NOVEMBER W t 1981 16 - GOVERNMENT PURCHASES OF GOODS ANO SERVICES IN CURRENT DOLLARS ___________________ W f g fflJNP.f P ANNUAL RATES OF CHANGE______________________ BILLIONS OF TELRfU M A L ______ __________ _________ _ _ _ ______ __________ I N I T I A L Q U A R T E R ______________________________________________ P O L L A R S Q U A R T E R ----------------------------------------------------------------------------------------------------------------------------------------A N N U A L R A T E S ------------------ — 1-7 7 — Zz22_______ ¿-7-1__ 4 r I7 ___I r l i ! __ ¿~7£__ }~12__ _______ 1 -7 9 2 -7 9 3 -7 v 4 -7 9 1 -6 0 2 -6 0 3 -d 0 4 -6 0 1 -8 1 2 -6 1 _________ Ir.H_____3 78 . 6 2.~7Y___________ j ^ g __________________________________________________________________________________________________ 391*0 lr-2 7 ____1 .0 ^ __ L i i x i ___ ______________________________________ _________________________________________________________ 3 9 7 .9 4 -7 7 ____Hi* «_£__ 11.4 __ 1 0 .2 1^78 ------^ 1 3 .2 _____________________________________________________________________________________4 1 0 ,4 ______________________>*iL___________________________________________________________________________________________ 4 l > t 7 ¿r.78--------- £*£___ '1*1___ Sjt-2___ 9 .2 3=78____ l V u l __ 1V a 3___ ^ 7 .3 9 .4 _________ _____________________________________________________________4 2 » . 1 __ 1V^2___ 21*2__ 11*2 *"78____ 1V*4__ IV ^ é __ 1V_»_2__ l V_,_fe__ 10*0 13*0_______________________________________________________________ 438*3 11*6 12*7 12*4________________________________________________________4 »1* 3 ___________2 ^ ___ ]SLl2__ 10*» - I r J V _____i* 9 __ IV jlV ___ ^ . ¿ ^ 79_____9 a 1‘___ 9 ^ __ 9*1 - j ^ 7V_____2 ^ ___ ^ 9 .3 6*7 9 ,4 9*4 9*3 6*3 6*2 6 .2 ___ 9 ^ ___ §_,j}____V*4____9*4____6 *» 46»* 1 7*2____7*6 *--7V____l V ^ i __ l V ^ t __ 1.0*0__ Lì L*_j 2__ l iU V __ 1 0 .7__ lV ^ z __ 1 0 .» ____l V ^ i __ _______1 V W __ LL*^__ IV*2___11*» __ _______________________________________ * 5 6 .2 6 .2 9*2__________________________________ *7» *4 10*0 11* 3 13*9 16*9 ___ 1 1 .8 __ L U £ __ 1 1 . » 1 2 .8 i» * l 18*2 17*» Zir£0____10._fi__ 1ÌL*_Ì__ 1 0 .7 __ 11*0__ IV*£___11.4 __ 11*7 11*»__ LU_2__ 1 2 .4 1 4 .0 1»*6 -à=£il____I W __ lQ,j__ 1 0 .0 __ IV .. 3__ I£UV___IV * S __ LO . 4;__ LV*3__ I V . V__ IV.«. 7__ L U V __ 12*2 - A r t i V ____LV*_8__ 1£*5__ IV j 7__ I I * V __ IV^S___1 1 ,2__ L U i __ 11*4__ l±*J__ 12*0 13*0 13*6 1 -8 1 11*V__ LL «d __ LCLl5__ 1_L*4__ L U V __ 1 1 .»__ 11*7 2 -8 1 LV* il__ liU i» __ 10 12__ 1Q » ft__ 10*2___10*6 3-61 1 0 ** 10 *3 10 ,1 10 .3 10 *1 10 *<t 4- 7 6 1-7 7 ? - 77 3- 77 4- 77 1- 76 2- 76 14*0 ^ 9 6 t 4_. »1**8 10*6 »30* 0 10.1 6*6 2*7 12*» 10*9 11*1 20*2 13*7 12*7 11*6 13*1 _ » ? ? *» >>6*6 11*6 11*» 12*2 10*7__ 10*» 10*4 10*6 11*4 10 .> 1 0 .3 10 .1 10 . » 1 1 ,0 1 1 ,2 10,2 9 .0 8 *7 10 *3 7 *2 4*1 7 .6 3--78 4- 78 1-7 9 2-7 9 3- 7 9 4-79 ]L—80 2-80 3- 80 4- 80 1-8 1 2- 61 11*7 10*6 9*3 11*9 6*9 lfr.a 11*1 13*4 6 .6 »76* » 0*6 »77*4 » 8 8 *3 1N1T1AL QUART ER GLVtRNMt NT PURCHASfcS OE GOODS AND S E R V IC E S IN COMPOUNDED ANNUAL RATES UE CHANGE TERM1NAL QUART fck IN IT IA L 1—77 2-77 3-77 3 .» 2-77 3 .9 4 .4 u> 1 3 4 —7 6 1-77 3 .6 3 .9 3 .4 4-77 3 .6 3 .6 3 .2 3 .0 l- 7 b 2 .» 2 .3 1 .6 0 .7 2 —7t> 2 .» 2 .3 3-78 2*9 . 2 ,8 4 -7 * 4-77 1-76 2-78 3-76 4-78 19 72 DOLLARS B I L L I O N S OF DOLLARS ANNUAL RATES QUARTER 1-79 2-79 3-79 4-79 1-80 2 -8 0 3-80 4-60 1-81 2-61 2 6 8 .5 2 7 1 .4 2 7 3 ,7 2 7»* 7 2 7 4 .6 - 1 .6 1 .8 1, 3 0*4 2 .» 2, » 2 ,3 2.1 4 .0 > ,» 1 ,9 1*6 2 ,7 2 ,8 0,1 2 ,6 2 ,4 2 ,1 2 7 6 .3 2 8 0 .0 280 . 1-79 2 .4 2 .2 1 .9 1 .7 1.4 2 .2 2 ,1 0 .4 0 .7 2-79 2. 1 1 .9 1 .6 1*4 1.1 1 .7 1,4 C .l 0 ,1 - 0 ,4 3-79 2 .0 1 .9 1 .6 1*3 1.1 1 .6 1,4 0 .4 0 .» 0 .4 1*1 4-7V 2 .3 2 .2 2 .0 1 .9 1.7 2 .2 2 .2 1 .» 1 .9 2 .2 3*6 6 .1 1-6C 2 .7 2 .6 2. » 2 .4 2 .3 2.8 2 .8 2 .4 2 .8 3. 4 4 *7 6 ,» 6*9 2 .7 2 .6 2 .» 2 .4 2 .3 2 .8 2 .8 2 .4 2 .8 3 .2 4*1 »,2 4*7 280 *6 2 8 0 .3 281*1 2 8 » .3 290. 1 2 9 1 .9 2 .1 2 ,0 1*9 1 .7 1*6 2.0 1.9 1 .» 1 .6 1 .6 2*2 2*» 1*4 - 1 *3 . - iu O * 2. 1 2 ,1 1*9 1*8 1.7 2 .0 1.9 1 .» 1 ,7 1 .9 2 .2 2 .» 1*6 - 0 ,1 - 1 .4 2 .2 1 -8 1 2 .3 2 .3 2. 1 2 .0 2 .0 2 .3 2 .2 1 .9 2 .1 2 *7 2 ,9 2*3 1 ,2 0 ,8 3*_8 »*3 N) 1 CD 2 .» 1*9 1*6 1 .6 1 ,» 1,4 1 .6 1 .6 1.2 1 .3 1.4 1*6 1*7 1*0 - 0 *2 - 0 *8 0 .6 - 0 *2 -»*» 1*7 1 ,6 1 .4 1 .3 1,2 1.4 1 .3 1.0 1 .1 1*1 1*3 1 .3 0*6 - 0 *4 - 1 ,0 0*1 - 0 ,6 -5*> -1*» <,-76 1-77 2-77 3-77 4-77 1-78 2-76 3-78 4-76 1-79 2-79 3-79 4-79 1-80 2-80 3-80 4-80 1-81 2-81 3-60 0 0 1 3-ei IN I T I A L 289*8 293*6 2 8 9 *» 2 88 *4 QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . NOVEMBER 1 9 , 1961 17 LOUIS 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 D O L L A R S ________ C Q H P O Q N P E O A N N U A L R A T E S O F C H A M f r E ____________ TERMINAL QUARTER BILLIONS OF OQLLARS ANNUAL RATES _____________________ I N I T I A L Q U A R T E R ________________________ 4-76 1-77 2-77 3-77 4 - 7 7 ____ 1 - 7 8 2-78 3-78 4-78 1-79 2-79 3-79 4-79 I- S O 2-80 3-80 4-30 1-81 2~31 ______ 1~77 . 2-77. 10.2 11>9 3 -7 7 lltj 12 »fe ..13u 4________ 4-77 1 1 .2 1 2 . 1 ____L Z t l ____l i t ? 1-78 1 0 .8 1 1 .4 1 1 . 2 ____1 9 t l _____9 * L _ 2-78 1 1 .1 1 1 .7 1 1 .6 1 1 .0 1 0 .9 1 2 .8 3-78 1 1 .3 1 1 .7 1 1 .7 1 1 .3 1 1 .3 1 2 .4 1 2 .0 4-78 1 1 .6 1 2 .0 1 2 .0 1 1 .8 1 1 .9 1 2 .9 1 2 .9 1-79 1 1 .8 1 2 .2 1 2 .2 1 2 .1 1 2 .2 1 3 .0 1 3 .1 1 3 .7 1 3 .5 2-79 1 1 .5 1 1 .6 1 1 .8 1 1 .5 1 1 .6 1 2 .1 1 1 .9 1 1 .9 1 1 .0 8 .5 _ u m ± 5 _ _ i± 3*7fg_ . 11 M P .t 7 . 1.4 6 2.1 1 3 .9 i« 5 e o .3 Ii6l2t9 1 .6 6 3 .8 3-79 1 1 .6 1 1 .9 1 1 .9 1 1 .6 1 1 .8 1 2 .3 1 2 .2 1 2 .3 1 1 .7 1 0 .8 1 3 .3 4-79 1 1 .6 1 1 .9 1 1 .9 1 1 .7 1 1 .8 1 2 .2 1 2 .1 1 2 .1 1 1 .7 1 1 .1 1 2 .4 1 1 .6 1-80 1 1 .8 1 2 .0 1 2 .0 1 1 .9 1 2 .0 1 2 .4 1 2 .3 1 2 .4 1 2 .1 1 1 .7 1 2 .8 1 2 .5 1 3 .5 6 .8 4 .4 8 .7 1*710.1 lt 7 6 5 .1 w 2-80 1 1 .2 1 1 .4 1 1 .4 1 1 .2 1 1 .2 1 1 .4 1 1 .3 1 1 .2 1 0 .7 1 0 .2 1 0 .6 9 .8 3-80 1 1 .4 1 1 .6 1 1 .5 1 1 .4 1 1 .4 1 1 .6 1 1 .5 1 1 .4 1 1 .1 1 0 .7 1 1 .1 1 0 .6 1 0 .3 4-80 1 1 .4 1 1 .6 1 1 .6 1 1 .5 1 1 .5 1 1 .7 1 1 .6 1 1 .6 1 1 .3 1 1 .0 1 1 .4 1 1 .1 1 0 .9 io a 1 3 .1 1 2 .8 1-81 1 1 .4 1 1 .6 1 1 .6 1 1 .5 1 1 .5 1 1 .7 1 1 .6 1 1 .5 1 1 .3 1 1 .0 1 1 .4 1 1 .1 1 1 .0 1 0 .4 1 2 .4 1 2 .0 1 1 .1 2-81 1 1 .2 1 1 .4 1 1 .4 1 1 .2 1 1 .2 1 1 .4 1 1 .3 1 1 .2 1 1 .0 1 0 .7 1 1 .0 1 0 .6 1 0 .* 9 .9 1 L .3 1 0 .6 9 .6 8 .0 3-81 1 1 .3 1 1 .4 1 1 .4 1 1 .3 1 1 .3 1 1 .4 1 1 .3 1 1 .3 11 . 0 1 0 .8 1 1 .0 1 0 .8 1 0 .7 1 0 .2 1 1 .4 1 0 .9 1 0 .3 9 .9 U .8 4-76 1-77 2-77 3-77 4-77 1-78 2-78 3-76 4-78 1-79 2-79 3-79 4-79 i- e o 2-60 3-80 4-80 1-61 2-81 1972 DO LLARS IN IT IA L D 1SPO SABLt __________ PERSO NAL _______£ g j y w w t o m I t W . O - 1*9.42 i t m IN C O M E IN m i v A L. s a i l s qf c .m a n ^ ________ _______________________________________ ________________________ B IL L IO N S 1-77 2-77 1-77 1 .6 2-77 3 » * _____ . 9 3 J U 6 3-77 4 .8 4-7 7 ^ j- 7 ? 0 . 5 _____ 7 . 3 4 - 7 7 ____ 1 - 7 8 ________ 2-78 . _ 3-78 4-78 _ 1-79 2-79 3-79 4 - 7 9 ____ j - g g _____ 2~ 9P ? - £ ! ___________ ____ __________________________________ - . 9 4 3 * 1 . . __________________________ 5 . 5 __________ L*_2_____ L a _____ <Lti>_____ 2 . 5 __________________________________________________________________________________________________________________________________ . 2-7g i u * _____ i L t ^ _____ ± i l _____ L L 2 _____ 1 1 1 __________________________________________________________________________ 3-78 4 .4 h .8 4 .6 < *.0 3 .5 4 .0 __________________________ 9*6 »f ._ _ ..9 7 f r t> 4 .3 4 . 4 _____ 4 _tjJ_____ ± a _____ 4 ^ _____ ¿ * 9 _____ __________ 4 * 7 _____ 5 y p ,,_ _________________________________________________________________________________________________ 9 9 8 . 0 1-79 4 .3 4 .0 4 ,5 4 .Q 3 .7 4 *0 4 a * .1 3 . 1 _____________ 2 - 79 3. 9 4 . 2 4 . 0 3 .5 3 .2 3 .3 3 .2 2 .9 1 .8 _____ _ ., ____ 0 .5 h 3-79 3 .9 4 .1 3 .9 3 .5 3 .2 3 .3 3 .3 3 , 0 _____ Z * ± _____ 1 * 2 _____ _ J L t Q I » + 7 3 .6 3 .8 3 .6 3 .2 2 .9 3 .0 2 .9 2 .6 1-80 3 .4 3 .6 3 .4 3 .0 2 .7 2 .8 2 .6 2 . 4 _____ __________ L*_S_____ l ± l _____ L t f i ______l± l________________________________________________ li9 2 1 * Q 2 .3 1 .9 1 .9 1 .7 1 . 3 _____ Q±1_____ Q ± 2_____ P t l 2 .9 2 .4 2 .1 2 .1 1 .9 1 *6 - 1 .9 r . l t 9 ____= * * 9 ______________________________________l i f i f l k * 1 . 2 _____ <k_fi_____ £L*_2_____ iLt_2_____ Q±1____r V i * _____ ± ± 1_____________ ____________ — I t Q l f l i » 4-80 2. V 3 .0 2 .8 2 .5 2 .2 2 .2 2 .0 1 .8 1 .4 1 .1 1 .2 0 .8 1-81 2 .9 3 ,0 2 .8 ¿ .i 2 .3 2 .2 2 .1 1 *9 U 6 1 .4 1 .5 1 . 2 _____ L *2______i ± l _____ __________ Z ± 1 _____ 3 t 9 2 -ei 2 . 6 _____ 2 ^ 9 _____ 2 . 7 2 .* 2 .2 2 .2 2 .1 1 .8 1 . 5 _____ L t 4 _____ Lt_S>_____ L t 2 ______L t 2 ______L t l _____ Z± 3._____ __________ ¿± 1 _____ L d t — l t t t * t * 3-81 2 .6 2 .9 2 .7 2 •** 2 .2 2 .2 2 .1 1 .9 1 .6 1 .5 <i-7fc 1-77 2-77 > -/7 4-77 1-78 2-78 3-78 4-78 1-79 7 2 . 0 _____ L t £ _____ i x l _____ e_«_S__________ ______________________________________________________ _______________ l t P I 7 f 7 2 . 8_____ __________ 2 . 7 2 .8 ^ 1 .0 0 6 .9 4-79 3 .0 . 985» 9 4-78 3-80 OF _____ D O L L A R S _______ RATES ?~ 3 V 1-7 S - ¿ - SC t6 2 .0 4 1 .7 Q UARTER T E R M I N A L_ _ _ IN IT IA L Q UARTER _ Q U A R T E R ___________________________________________________________________________________________________________________________________________________________________________________A N N U A L ______________ 4 - 7 * a. l f $4Qt6_ 1 3 .3 0 .6 3 .5 2 .9 ltQ 2 5 ,8 .. _ 0 .8 IN IT IA L 1 .6 1 .4 1 ,4 U 5 2 .8 2-79 3-79 4-79 1-80 2-80 2 .5 2 .3 2 .0 2 *6 3-60 4-80 1-61 ly Q 4 ^ » .._ 2-81 Q UARTER PREPARED BY FEOERAL N O V E M B E R 19, 1 9 8 1 18 RESERVE BANK OF ST. LOUIS CORPORATE PROFITS AFTER TAXES* COMPOUNDED ANNUAL RATES OF CHANGE IN IT IA L T E R M IN A L Q UARTER 4-76 1-77 1-77 4 8 .3 2-77 3 1 .6 1 6 .7 2-77 3-77 4-77 1-78 2-78 3-78 4-78 B IL L IO N S OF D O LLARS ANNUAL R A T ES U U A RTEK 1-7V 2-79 3-79 4-79 1-80 2-80 3-80 4-80 3-77 ¿6 . 5 1 6 .8 1 6 .8 1 9 .9 1 1 .7 9 .3 2 .3 1-78 1 6 .7 9 .9 7 .7 3 .4 4 .6 _2 -7 8 2 0 .8 1 5 .9 1 5 .7 1 5 .3 2 2 .4 A 3 .3 3-78 2 0 .3 1 6 .2 1 6 .1 1 5 .9 2 0 .8 2 9 .9 1 7 .7 4-78 2 2 .8 1 9 .5 1 9 .9 2 0 .6 2 5 .6 3 3 .6 2 9 .0 4 1 .3 1-79 2 3 .0 2 0 .1 2 0 .6 2 1 .2 2 5 .4 3 1 .3 2 7 .5 3 2 .7 1 2 4 .0 1 2 5 .4 1 3 7 .2 1 4 2 .9 1 5 5 .6 1 6 4 *6 2 4 .6 1 6 4 .6 1 7 .7 1 7 .8 1 7 .V 2 0 .8 2 4 .3 2 0 .0 2 0 .7 1 1 .6 0 .0 ¿ 0 .7 1 8 .3 1 8 .5 1 8 .7 2 1 .2 2 4 .2 2 0 .7 2 1 .5 1 5 .5 1 1 .2 2 3 .7 4-79 1 7 .6 1 5 .2 1 5 .0 1 4 .8 1 6 .5 1 6 .3 1 4 .5 1 3 .9 8 .0 2 .9 A .4 - 1 1 .V 17. ü_ - J L 7 * I _ 2 0 .6 1 7 t? 1 7 ,? 1 3 .7 1 1 .1 1 5 .1 1 1 .0 Q ¿0 .4 3-79 00 1 2-79 1 9 .2 1 7 .1 lf c , 9 2-80 1 0 .5 8 .Q 7 .3 6 .5 6 .9 3 - t it 1 2 .2 1 Q .0 9 .5 8 .9 9 .5 4-60____ 12.3__ 1Q._2____2^8____ ÏU 2 7 .2 ____ 3 .3 1 0 .0 6 .6 173>6 3 9 ,6 1 6 2 .9 1 .4___- 4 . 0___- 8 . 9 - i l l . 0. - ¿V 1 3 _ -2A . 1. .=$£* 8___ 5 . 5 _____ L u i___ ~ Z * .Z ___ = ¿ * 7 ___ ~ Z jl ±___ - 7 . 1 ____v*5___10.3____ 1*5___________ Z± 1 __ -Q« J146.5 - 2 ^ . 3___ 3 9 . 1____ _______ . 1__ r£._l __ _______ -2,3 - 13.3 ___ 25,6 ___U , 7 1* 4 .3 1 2 .3 1 0 .4 9 .9 9 .5 1 Q .Q 1 0 .5 7 .9 7 . 0 _____ Ì+ 1 _____ L * it _____ ________ ~ l ± l _____ 0 ^ 1 ____- 7 , 3 ___ ¿ 1 . 2 ____ l i . l ____1 2 ,i> 2-ßl V. 1 7 .1 6 .5 5 .9 6 .1 6 .2 ¿ .* 2 .4 - 0 .8 - 3 .3 - 3 .7 - 7 .1 - 6 .2 3-61 9 .7 6 .8 6 .3 5 .6 >.9 £.9 3.i> ¿.A - 0 .5 - ¿ .8 -3.1 -6.0 -5.1 -1 1 .0 4-76 1-77 2-77 3-77 4-77 1-78 3-78 4-78 1-79 2-7V 3-79 4-79 2-78 1 6 6 *2 . 1-81 » H M I Q ^ A I. W E * « ; 2-81 1 1 6 .6 4-77 P- PRELIMINARY 1~S I - 1 3 . 4 _____ ± ± 2___ ~ 5 , 3 1-60 frtól S ___________________________________________________________________________________________ 3 .» 1 * 9 ,2 - 1 2 .* ____________ - 3 .5 __ -6 t 7 ~ 1 7 t l ____¿ t _ L _ 2-60 3-80 4-60 1-61 BY FED ERA L RESERVE 2-61 BAW 1981 HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The National Income and Product Accounts of the United States, 1929-76: S ta tistica l Tables, is now available from the Superintendent of Documents, U.S. Government Printing Office, Washington, D.C. 20402. (Stock number 003-010-00101-1, price $10.00). National Income and Product Accounts, 1976-79 was published in Ju ly 1981 as a Special Supplement to the Survey (Stock number 003-010-721888-0, price $3.75). These publications present the results of the comprehensive revision of the national income and product accounts described in the December 1980 Survey. For further information, write to the National Income and Wealth Division (BE-54) Bureau of Economic Analysis, U.S. Department of Commerce, Washington, D.C. 20230. 19 _ JL 5 à ^ £ _ _________ PR E P AKfcD N O V E M B fc K QF ... ___ 1 2 2 * 1 ___ S I. L O U IS INVENTORIES COMPARED WI TH MONTHLY S A L E S * M A N U F A C T U R I N G AND T R A D E * RAT IOS BASED ON SEASONALLY ADJUSTED DATA. SHADED AREAS REPRESENT PERIODS OF BUSINESS RECESSIONS SOURCE: 'I. S. DEPARTMENT OF COMMERCE LATEST DATA PLOTTED: SEPTEMBER PREPARED 20 BY FEDERAL RESERVE BANK OF ST LOUIS
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