Full text of National Economic Trends : October 1985
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National Economic Trends October 1985 Real GNP has been expanding at a moderate pace thus far this year, compared with a very rapid rate of growth in the first two years of the expansion. Its major component, real final sales, has slowed somewhat, but most of the slowing in GNP has been in the form of a sharp reduction in the pace of real inventory accumulation. Other distinguishing features of the GNP slowdown are a steady rate of real personal consumption expenditures, but a sharp drop in the pace of both real residential and nonresidential fixed investment. Real net exports are still declining, but, in contrast with the first two years of the expansion, now reflect declining real exports in combination with rising real imports. Buoyed by rising deliveries of defense products, real federal purchases have been increasing at a 10.2 percent annual rate, compared with a 1.9 percent rate earlier in the expansion. Changes in Real GNP and Its Components IV/1984 to III/1985 Billions , of dollars — Percent— , Real GNP Change in business inventories Final sales Personal consumption expenditures Residential fixed investment Nonresidential fixed investment Net exports Exports Imports Federal purchases of goods and services State and local purchases of goods and services „, 1.8% IV/1982 to IV/1984 Billions , _, of dollars — Percent— , $7.5 -6.3 13.8 13.3 1.1 1.3 -6.9 -3.0 3.9 3.3 3.4 5.0 7.5 2.4 — -8.1 9.8 10.2 $23.0 5.2 17.8 12.4 2.3 6.5 -4.7 1.3 6.0 0.6 1.7 3.9 0.6 — 6.0% — 4.6 5.0 20.5 15.1 — 3.7 19.4 1.9 1.4 U Average per quarter 2/ Compounded annual rate of change — Keith M. Carlson THE FEDERAL RESERVE RANK of ST. I/)I IS Views expressed do not necessarily reflect official positions of the Federal Reserve System. TO TAL C IV IL IA N EMPLOY*0<T . COMPOUNDED ANNUAL RATES OP CHANGE THOUSANDS OF PERSONS I N I T I A L MONTH -TERMINAL 2 -6 4 4 -8 4 3 -8 4 4 -6 4 __ fcr.frfr__ fr~S4__ TrJkk__ a = M __ 9 -8 4 1 0 -6 4 I 1—64 12—B4 1 -6 5 ___2 -6 5 3 -8 5 4 -8 5 5 -8 5 6 -6 5 7 -flS 8-flS 2 >7 104« 123 -3.Q___ 3 . 3 10 4.402 105.16 2 5— 84 5 .0 S-ft4 4 .4 5 .0 5 .8 2 .6 7 -6 4 3 .5 3 .7 3 .8 1 .2 a -8 4 2 .4 _ 2 .4 _ 2*2 9— 84 2 .5 2 .5 _ 2 .3 0 .7 0 .0 0 .1 2 .8 10— fi 4 2 .6 2 .5 2 .4 1 .1 0 .7 1 .0 2 .9 1 1 -8 4 2 .6 2 .6 2 .5 1 .5 1 .2 1 .6 3 .0 3 .1 3 .3 1?—84 2 .8 2 .8 2 .7 l.a 1 .7 2 .1 3 .2 3 .4 3 .6 .•JV.9 : ì ^ . 9 2*9 6 .1 9 .1 105.391 -0 .2 -C ^ L _ - 1 . 4 105.37 7 -2 .6 10 5.14 8 *i £ 105.39 4 105.64 9 2 .9 10 5.93 2 2 .6 2 .6 2 .5 1 .8 1 .6 2 .7 2 .7 2 .6 1 .9 1 .8 2 .1 2fc9 3 -8 5 2 .9 2 .9 2 .8 2 .2 2 .2 2 .5 3 .2 3 .3 3 .4 4 -6 5 2 .5 2 .5 2 .4 1 .9 1 .8 2 .0 2 .6 2 .5 2 .5 5 -8 5 2 .4 2 .3 2 .3 1 .7 1 .6 1 .8 2 .3 2 .2 2 .1 6 -8 5 1.8 1 .7 1 .6 1 .1 0 .9 1 .0 1 .4 1 .2 1 .0 0 .7 T. 3 .0 2*6 1 .3 2 .9 2 .3 3 .4 3 .4 3 .2 4 .2 2 .3 1 .9 2 .1 1 .5 -1 .9 2 .0 1 .6 1 .6 1 .0 -0 .9 0 .2 0 .2 O o 1-8 5 2 -8 5 3 .0 10 6.273 3 .9 106.39 1 -0 .9 -2 .8 -3 .2 -6 .4 1 0 6 .¿65 5 .0 10 7 .1 1 9 10 6.945 10 6.960 1 0 6 .3 7 0 7—85 2 .0 2 .0 1 .9 1 .4 1 .3 1 .4 1 .8 1 .7 1 .5 1.3 1 .0 0 .9 0 .4 -0 .7 -0 .3 -0 .5 5 .7 8 -8 5 2*1 2 .1 2 .0 1 .5 1 .4 1 .6 1 .9 1 .6 1 .7 1 .6 1 .3 1 .3 0 .9 0 .1 0 .6 0 .6 4 .6 3 .5 9 -8 5 2 .2 2 .2 2 .1 1 .7 1 .6 1 .0 2*1 2*0 2*0 1*6 1*6 l*fe 1*4 0 .6 1 .3 1*6 4 .5 3 .9 4 .2 2 - »4 3—64 4—04 5 -8 4 6 -6 4 7 -8 4 8—64 9 -0 4 1 0 -6 4 1 1 -6 4 1 2 -6 4 1 -6 5 2 -6 5 3 -6 5 4—65 5—65 6 -6 5 7 -6 5 8 -6 5 10 6.66 2 10 7.172 1 0 7 .5 4 4 I N I T I A L MONTH PAYROLL EMPLOYMfcNT THOUSANDS OF PERSONS I N I T I A L MONTH TERMINAL MONTH 2 -8 4 3 -8 4 4 -6 4 5 -8 4 6 -8 4 7 -6 4 8 -6 4 9 -6 4 10—84 1 1 -6 4 1 2 -6 4 1-6 5 2 -6 5 3 -6 5 4 -6 5 5 -8 5 6 -6 5 7 -6 5 6 -6 5 3 .6 9 3 ,3 6 7 4 -6 4 4 .0 4 .4 93*725 5 -8 4 3 .8 4 .0 3 .6 6 -8 4 3 .9 4 .0 3 .9 4 .1 7 -6 4 3 .9 4 .0 3 .9 4 .0 3 .9 6 -6 4 3 .9 3 .9 3 .8 3 .9 3 .7 3 .6 3 -8 4 9 3 ,9 9 8 9 4 ,3 1 7 9 4 ,6 1 5 9 4 ,8 9 3 9 5 ,2 3 8 9 -6 4 3 .9 4 .0 3 .9 4*0 4*0 4 .0 4 .5 10 -8 4 4 .0 4 .0 4 .0 4 .1 4 .0 4 .1 4 .4 4 .3 1 1 -84 4 .0 4 .0 4 .0 4 .0 4 .0 4 .1 4 .2 4 .1 12 -6 4 3 .8 3 .9 3 .8 3 .8 3 .8 3 .« 3 .8 3 .6 3 .3 2 .7 1 -6 5 3 .9 3 .9 3 .9 3 .9 3 .9 3 .8 3 .9 3 .8 3 .6 3 .4 4 .2 2 -8 5 3 .7 3 .7 3 .7 3 .7 3 .6 3 .6 3 .6 3 .4 3 .2 3 .0 3 .2 2 .2 3 -8 5 3 .8 3 .8 3 .7 3 .7 3 .7 3 .7 3 .7 3 .5 3 .4 3 .3 3 .4 3 .1 4 .0 4 -8 5 3 .7 3 .7 3 .6 3 .6 3 .6 3 .5 3 .5 3 .4 3 .3 3 .1 3 .2 2 .9 3 .3 2 .6 3.6^ 3 .5 3 .2 3 .4 3 .2 3 .5 3 .2 3 .8 9 5 ,5 7 3 9 5 ,8 8 2 3 .9 9 6 ,0 9 2 9 6 ,4 1 9 9 6 ,5 9 1 9 6 ,9 1 0 9 7 ,1 2 0 9 7 ,4 2 1 3 .6 3 .6 3 .6 3 .6 3 .5 3 .4 3 .4 3 .3 3 .3 3 .3 3 .1 3 .0 2 .9 2 .9 2 .6 2 .8 2 .3 2 .2 0 .6 3*4 3 .4 3 .4 3 .3 3 .3 3 .2 3 .1 3 .0 2 .9 2 .9 2 .7 2 .6 2 .5 2 .4 1 .8 2 .9 3 .5 3 .5 3 .4 3 .4 3 .3 3 .3 3 .3 3 .2 3 .0 2 .9 3 .0 2 .6 2 .9 2 .7 2 .7 2 .3 3 .2 3 .5 3 .4 3 .3 3 .3 3 .3 3 .2 3 .2 3 .1 3 .0 2 .9 2 .6 2 .6 2 .7 2 .7 2 .5 2 .5 2 .2 2 .7 2 .5 1 .6 2 -6 4 3 -8 4 4 -6 4 5 -6 4 6 -6 4 7 -8 4 6 -6 4 9 -6 4 1 0 -6 4 1 1 -6 4 1 2 -6 4 ì-é * ¿—05 7 -8 5 0-8Ì> 5 -8 5 3*7 3 .7 6 -6 5 3*5 7 -6 5 3*5 6 -6 5 9 -6 5 3 .3 4 -è * IN I T I A L W M TH P - PRELIMINARY OCTOBER 4 » 1985 2 9 7 ,4 7 3 9 7 ,7 0 7 9 7 ,9 8 7 P 9 8 .1 1 5 P EMPLOYMENT RATIO SCALE MILLIONS RATIO OF P E R S O N S SEASONALLY MILLIONS ADJUSTED SCALE OF P E R S O N S 120 1 15 I 10 105 100 95 90 85 80 75 SOURCE: PERCEN TAGES ARE ANNUAL RATES OF CHANGE FOR PERIO D S LA T ES T DATA PLOTTED« U .S .D E P A R T M E N T OF LABOR IN D IC A T ED . SEPTEM BER P R E L IM IN A R Y PREPARED BY FED ERAL RESERVE BANK OF S T . UNEMPLOYMENT PERCENT SEASONALLY L O U IS RATE ADJUSTED PERCENT 12. 0 . 11. 0 10 . 1 0. 0 9. 9 .0 8. 8.0 7. 7 .0 6. 6.0 5. 5 .0 1l 4. 4 .0 1977 1978 1979 1980 1981 1982 1983 SOURCE« PERCENT OF C I V I L I A N LA T E S T DATA PLOTTED« U .S . 1984 1985 DEPARTMENT OF LABOR LABOR FORCE SEPTEMBER PREPARED BY FED ERAL R ESERV E BANK OF S T . 3 L O U IS CONSUMER PRICE INDEX FOR ALL URBAN CONSUMERS* SEASONALLY ADJUSTED ----------------------------------------CQHfQUHDED^AIIMUAL RATES OP CHANCE_____________________ MONTH .. _ 9 -8 4 ,4-^Ç_4_ . ?-Q4_. _6rft4... 7-94_. 3 -8 4 1 0 -8 4 1 2 -8 4 Í 2 -8 4 1-8 5 2—85 3 -8 5 4 -8 5 5 -8 5 _ 6 -8 5 7 -8 5 . . 5 - 8 5 ... 3 .6 3 ~ «4 5*2 ... 4 -8 4 30?. *2_ 5 -8 4 3*6 3*6 2*0 b r* ± _ 3 iî .3 ,2 2 ,2 . 7 -8 4 .. 3 0 9 ,7 310*3 ¿ ,3 3 .3 _ 2 .7 -3 .1 0-8.4. .._ .3^7— ___2*.7 .3x3. 3*8 4*5 5*1 3 .5 3 .9 4 .5 4 .7 4 .? 3*5_ 3 .8 4 .2 4 .3 3*9 9 -S 4 1 0 -8 4 i.a _ _3*X_ 3 1 1 .3 3*<L. 312*6 3 1 3 .7 3 1 4 .6 3*5 ll-8 4 _ _ 3 .6 itJfe . . . i t ? 3 .6 3 .8 3 .8 3 .4 2 .9 2*3 1 2 -8 4 3 ,5 _ 3 .5 3*3 3 .5 3 .7 3 .7 3 .3 3 .0 2 .7 3 .1 315*2 316*0 1 -8 5 3*4 3*4 3^2. 3 .4 3 .5 3 .4 3 .1 2 .8 2 .6 2 .7 2*1 2 -8 5 3 .5 3*5 3*3 3 .5 3 .6 3 .6 3 .3 3 .1 3*0 3 .2 3*3 4*2 3 -8 5 3*7 -3*1 3*5 3 .7 3 .8 3*8 3*6 3*5 3 .5 3^9 4*1 5*0 3 .9 3 .8 3 .7 3 .7 4 .0 4*2 4 .9 5*2 3 .7 3*7 3*6 3 .8 3 .9 3 1 9 .2 4 .6 320*4 5 -8 5 3 .7 3*7 3*5 3*7 3*8 3*8 3*6 3 .6 3 .6 3 .8 3 .9 4 .3 4*3 3*6 2 .7 6 -8 5 3*6 3*6 3 .5 3 .6 3*7 3*7 3 .5 3*5 3 .5 3 .6 3*7 4 .0 3*9 3*3 2*7 2 .6 7 -8 5 3*5 3*5 3 .4 3*5 3*6 3*6 3 .4 3 .3 3 .3 3 .4 3*5 3 .7 3*6 2*5 2*5 8 -8 5 3 .4 3 .4 3 .3 3 .4 3 .5 3 .5 3 .3 3 .2 3 .2 3 .3 3 .3 3 .5 3*4 2 .9 2*5 2*4 2*3 2*3 9 -8 5 3 .4 3 .4 3 .3 3 .3 3 .4 3 .4 3 .2 3 .2 3 .1 3 .2 3 .2 3 .3 3 .2 2 .8 2*4 2*4 2 .3 2 .3 2 .3 3 -8 4 4 -8 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1-85 2 -8 5 3 -8 5 4 -8 5 5 -6 5 6 -8 5 7 -8 5 8 -8 5 ?! 00 *1 3 1 £ ,6 . 317*7 5*8 * o 4 -8 5 . 321*1 321*8 322*4 2*3 3 2 3 .0 3 2 3 .6 I N I T I A L MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LO UIS OCTOBER 2 3 , 1985 PROOUC6R PRICE IN D EX , F IN IS H E D GOODS - SEASONALLY ADJUSTED* _________________ CUftPQUNPfD-AHrtUAL -RA T ES QF QHAN6E_________________ TER M I MAL 1967 - I N I T I A L MONTH 100 MONTH 7 -8 4 3—84 4 -8 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1-8 5 2 -8 5 3 -8 5 4 -8 5 5 -8 5 6 -8 5 7 -8 5 8 -8 5 291*5 6 .4 4 -ft4 ^ -4 0 .4 5 -8 4 1 .7 -0 .6 -1 .6 f>-ft4 1 .2 -0 .4 -0 .8 0 .0 7 -R 4 1 .5 0 .3 0 .3 1 .2 2 .5 8 -8 4 0 .8 -0 .2 -0 .4 0 .0 0 .0 2 9 1 .2 2 9 1 .2 2 9 1 .8 2 9 1 .2 -2 .4 2 9 1 .2 9 -8 4 0 .7 -0 .2 -0 .3 0 .0 0 .0 -1 .2 0 .0 1 0 -8 4 0 .5 -0 .3 -0 .4 -0 .2 -0 .2 -1 .1 -0 .4 -0 .8 1 1 -8 4 0 .9 0 .3 0 .2 0 .6 0 .7 0 .2 1 .1 1 .7 4 .2 1 2 -8 4 0 .8 0 .2 0 .2 0 .5 0 .6 0 .2 0 .8 1.1 2 .1 0 .0 1 -8 5 0 .7 0 .2 0 .1 0 .4 0 .4 0 .1 0 .6 0 .7 1 .2 -0 * 2 -0 .4 2 -8 5 0 .7 0 .2 0 .2 0 .4 0 .5 0 .2 0 .6 0 .7 I.1 0*1 0*2 3 -8 5 0 .8 0 .3 0 .3 0 .5 0 .5 0 .3 0 .7 0 .8 1 .2 0*4 0*5 1 .0 1*2 4 -8 5 1 .1 0 .7 0 .7 0 .9 1 .0 0 .8 1 .2 1 .4 1 .8 1*3 1*7 2 .3 3 .1 5*0 2 .3 2*8 3*5 2*1 5 -8 5 1 .1 6 -8 5 0 .9 0 .5 7 -8 5 1 .1 0 .7 0 .8 0 .8 1 .0 1 .1 0 .6 0 .7 0 .8 0 .9 2 9 1 .0 2 9 2 .0 2 9 2 .0 2 9 1 .9 2 9 2 .1 0 .8 2 9 2 .4 2 9 3 .6 2 9 4 .1 1 .5 1 .8 1*4 1*7 0 .9 1 .1 1 .3 0 .9 1*0 1 .3 1 .4 1*5 -0 * 2 -2 * 4 1 .2 1 .3 1 .6 1 .2 1 .4 1*7 1*9 2 .1 1*1 0*6 3 .7 1*0 0*9 -0 .1 - 0 .8 0 .0 -3 .6 0 .9 1 .3 0 .8 0 .6 1 .0 0 .9 2 9 3 .5 2 9 4 .4 2 9 3 .5 8 -8 5 0 .8 0 .5 0 .5 0*6 0 .7 0*5 0*8 0*9 wo 0 .7 0 .8 0*9 9 -8 5 0 .4 0 .1 0 .0 0 .2 0 .2 0 .0 0 .2 0*2 0*3 -o * i -o .i -0 * 1 -0 .2 -0 .4 -1 .5 -2 .3 -2 .3 -5 .2 -6 .7 2 -8 4 3 -8 4 4 -8 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -6 4 1 1 -8 4 1 2 -8 4 1-8 5 2 -8 5 3 -8 5 4 -8 5 5 -8 5 6 -8 5 7 -6 5 8 -8 5 2 9 1 .8 I N I T I A L MONTH ♦DATA FOR FOUR MONTHS AGO REVISED TO REFLECT LATE REPORTING PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS OCTOBER I I , 1985 4 RATIO PRICES SCALE 1 9 6 7 -1 0 0 S E A S O N A L LY CONSUMER P R IC E IMOEX B E 6 IM N IN « J A W A R Y 1070 IS C P I - U DATA B E G IN N IN G 1983 I »(CORPORATE A REN TAL DATA P L O T T E D , IN D IC A T E D . SEPTEMBER PREPARED BY FED ERA L RESERVE B A M r at io SCALE P R O D U C E R 1 9 6 7 -1 0 0 PR S E A S O N A L LY PERC EN TAGES ARE ANNUAL LATES T DATA P L O T T E D . SCALE 1 9 6 7 -1 0 0 FOR ALL URBAN C O N S U ttR S ( C P l - U ) . E Q U IV A LE N C E WCASURE FOR HOtfEOVNERSHIP C O S T S . P ERC EN TAGES ARE ANWJAL R A TES O f CHANCE FOR PE R IO D S LATEST RATIO AD JU S TED R ATES OF CHANCE FOR P E R IO D S SEPTEMBER I C E S A D JU S T ED RATIO L O U IS SCALE 1 9 6 7 -1 0 0 IN D IC A T E D . PREPARED BY FED ERA L 5 OF S T . RESERVE BANK OF S T . L O U IS PRODUCER PRICE If© E X , F IN IS H E D CONSUME* FOODS - SEASONALLY ADJUSTED* ____________________COMPOUND ED ANNUAL RATES OP C HAWSE__________________________ .TERMINAL__________________________________________________________________ INITIAL WQttTH_____________________ ______________________________________________m 7 _J? _LQ9 MONTH > -8 4 7 -8 4 8 -8 5 4 -8 5 3 -8 4 4 -8 4 5 -8 5 6— 85 7 -8 5 5 -8 4 6 -8 4 8—84 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1 -8 5 2 -8 5 3 -8 5 2 7 5 .7 3 -8 4 12 .5 4 r8 4 -0 .7 -1 2 . 3 5 -6 4 -3 .8 -1 1 . 0 _J ^ Q A -2 .« 2 7 2 .7 2 7 0 .4 —9 .7 2 7 0 .4 -7 .5 0 .0 2.-Û4 1*3_ rJL*3 2*7 _ 9 . 4 19 .9 8~84 0 .6 -1 .6 1 .2 5 .1 7 .8 —3 .0 ..... . 3 - û i 0 .3 -_la 7 0 .6 3 .4 4 .5 -2 * 4 -1 .7 2 7 4 .5 2 7 3 .8 2 7 3 .4 2 7 3 .0 1 0 -6 4 0*0 -i.7 0 .2 2 .3 2*9 —2*2 -1 .7 -1 .7 1 1 -8 4 O J -0 .7 1 .1 3*1 3 .7 0 .0 1*0 2 .4 6 .8 1 2 -8 4 1 .1 0 .0 1 .6 3 .3 3 .9 1*0 2 .0 3 .3 5 .9 4 .9 1-8 5 Q tl Z -3 Ï 3 -8 5 0 .2 2 7 4 .5 2 7 5 .6 -0 .6 0 .8 2 .2 ¿*5 -0 * 1 0 .4 1 .0 1 .9 -0 .4 —5*5 -0 .4 0 .9 2 .1 2 .3 0 .1 0 .6 1 .1 1 .8 0 .1 -2 .2 1 .3 2 7 4 .3 -0 .8 0 .3 1 .4 1 .5 -0 .5 -0 .2 0 .1 0 .4 -1 .1 -3 .0 -1 .7 -4 .7 2 7 3 .5 2 7 1 .0 2 7 4 .6 4 -8 5 —0 . 6 -1 .6 -0 .6 0 .2 0 .3 -1 .7 -1 .5 -1 .5 -1 * 5 -3 .0 -4 .9 —4 . 7 -7 .6 5 -8 5 -1 .5 -2 .4 -1 .6 -0 .9 -1 .0 -2 .9 -2 .9 -3 .0 -3 .2 -4 .8 —6 . 6 -6 .8 —9 .4 - 1 1 . 7 - 1 2 . 9 6 -8 5 “ 1 .5 -2 .3 -1 .6 -0 .9 -1 .0 -2 .7 -2 .7 -2 .8 -2 .9 -4 .2 -5 .7 -5 .7 -7 .4 -8 .2 -7 .1 -0 .9 -0 .9 -1 .9 -2 .8 -2 .3 -3 .0 -2 .6 0 .1 7 .4 2 6 7 .9 2 6 7 .7 1 6 .4 27 1 .1 -1 .3 -0 .5 0 .2 0 .2 -1 .2 -l.l -1 .0 -0 .9 -l.T -1 .0 —0 . 4 —0 .4 -1 .8 -1 .7 -1 .7 -1 .7 -2 .6 -3 .5 -3 .2 -3 * 9 -3 .7 -2 .0 2 .0 3 .4 -8 .1 -It ? -2 .2 -L -6 -4 -0 -l.l -2 .4 -2 .4 -2 .5 -2 .5 -3 .4 -4 .3 -4 .1 —4 .9 -4 .9 -3 .8 -1 .3 -1 .5 -9 .4 2 -8 4 3 -8 4 4 -8 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -6 4 1 2 -8 4 1—85 2 -8 * 7 -$_*> -0 .5 8 -8 5 9 -8 S -1 0 .4 2 6 9 .2 -1 0 .6 " 7 - h65" 4 -8 5 2 6 6 .7 Ô -Ô 5 " IN I T I A L NONÎH *OATA FOR FOUR MONTHS ACO REVISED TO REFLECT L ATE REPORTING PRODUCER PRICE IN DEX , F IN IS H E D GOODS, EXCLUDING FOODS - SEASONALLY ADJUSTED* __________________________ CflHTQUHPEP ANNUAL RATES OF CHANGE______________________________ TERMINAL MONTH 1967 - I N I T I A L HDNTH 2 -8 4 3 -8 4 4 -8 4 5 -8 4 * Œ 1 (<* 4 .6 4 -8 4 4 .6 4 .6 5 -8 4 3 .5 2 .9 1 .2 7 .6 1 .9 0 .6 0 .0 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1 -8 5 2 -8 5 3 -8 5 4 -8 5 5 -8 5 6 -8 5 7 -8 5 2 9 4 .5 295*$ 2 9 5 .9 2 9 5 .9 7—84 1 .6 0 .8 -0 .4 -1 .2 -2 .4 8 -8 4 1 .0 0 .2 -0 .8 -1 .5 -2 .2 -2 * 0 <>-84 0 .9 0 .3 -0 .6 -1 .0 -1 .3 -0 .8 0 .4 1 0 -8 4 0 .7 0 .2 -0 .5 -0 .9 -1 .1 -0 .7 0*0 -0 .4 1 1 -8 4 1 .0 0 .6 0 .0 -0 .2 -0 .2 0 .3 1 .1 1 .4 3 .3 1 2 -8 4 0 .7 0 .3 -0 .2 -0 .4 -0 .5 -0 .1 0 .4 0 .4 0 .8 -1 .6 2 9 5 .3 2 9 4 .8 2 9 4 .9 2 9 4 .8 2 9 5 .6 2 9 5 .2 1 -8 5 O.fl 0 .4 0 .0 -0 .2 -0 .2 0 .1 0 .6 0 .6 1 .0 -0 .2 1 .2 2 -8 5 0 .7 0 .4 0 .0 -0 .1 -0 .2 0 .2 0 .5 0*6 0 .8 0*0 0*8 0 .4 3 -8 5 1 .0 0 .7 0 .3 0 .2 0 .3 0 .6 1 .0 1*1 1 .4 0*9 1 .8 2*0 4— 85 1 .6 1 .4 1.1 1 .1 1 .2 1 .6 2 .1 2 .3 2 .8 2 .7 3*8 4 .7 6 .9 1 0 .2 5 -8 5 2 .0 1 .8 1 .6 1 .6 1 .8 2 .2 2 .7 3 .0 3 .5 3*5 4*5 5 .4 7 .1 8 .8 7 .5 6 -8 5 ... 1 .7 1 .5 1 .2 1 .2 1 .4 1 .7 2 .1 2 .3 2 .6 2*5 3*2 3*6 4 .4 4 .7 2 .0 2 9 5 .5 2 9 5 .6 2 9 6 .5 3*7 2 9 8 .9 3 0 0 .7 2 9 9 .9 7~85 1 .6 1 .4 1 .2 1 .2 1 .2 1 .6 1 .9 2 .0 2 .3 2*2 2*7 3*0 3 .5 3 .5 1 .3 -1 .6 H 5 1 .4 1 .2 1*0 0 .9 1*0 1 .3 1*6 1 .7 1 .9 1 .7 2 .1 2 .3 2 .6 2 .4 0 .5 -1 .7 1 « o -3 .1 ... -2 .0 . .... 9^85 1 .0 0 .6 0 .6 0 .6 0*8 1 .0 1*1 1 .2 1*0 1 .3 1 .3 1 .5 1 .1 —O .6 -2 .6 -2 .4 -3 .5 -5 .1 4 -8 4 5 -8 4 6 -8 4 7—84 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1 -8 5 2 -8 5 3 -8 5 4 -» 5 -8 5 6 -8 5 7 -8 5 8 -8 5 2 -8 4 100 8 -6 5 3 -8 4 2 9 9 .9 0 .0 2 9 9 .4 2 9 8 .1 I N I T I A L HDNTH ♦DATA FOR FOUR MONTHS AfrO REVISED TO REFLECT 1ATE RE PURTIH 6 PREPARED §Y FEDERAL RESERVE BANK OF S T . LO U IS OCTOBER 1 1 , 1935 6 INDUSTRIAL RATIO PRODUCTION SCALE RATIO 1977-100 SEASONALLY 1977 1978 1979 1980 1981 1982 PERCEN TAGES ARE AKtfUAL RATES OF CHANGE FOR PERIO D S L A T E S T DATA PLOTTED» SCALE 1977-100 ADJUSTED 1983 1984 1985 IN D IC A T E D . S E P T E M E R PR E L IM IN A R Y PREPARED BY FED ERAL RESERVE BAN* OF S T . LOO IS IN D U STR IAL PRPOUCTIQN COMPOUNDED ANNUAL RATES OF CHANGE 1977 * 100 I N I T I A L MONTH TERMINAL MONTH 2 -8 4 3 -8 4 8*4 4 -8 4 7 .3 3 -8 4 4 -8 4 5 -8 4 6—84 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 12—84 1 -8 5 2 -8 5 3 -8 5 4 -8 5 5 -8 5 6 -8 5 7 -8 5 8 -8 5 120.1 1 2 0.7 6 .2 12 1.3 5 -8 4 6 .9 6 .1 6 .1 6 -8 4 7 .7 7 .5 8 .2 1 0 .4 7 -8 4 8 .0 7 .9 8 .5 9 .8 9 .2 8 -8 4 7 .2 6 .9 7 .1 7 .5 6 .0 3 .0 9 -8 4 5 .8 5 .4 5 .2 5 .0 3 .3 0 .5 -1 .9 1 0 -8 4 4 .3 3 .7 3 .3 2 .8 1 .0 -1 .6 -* .8 1 1 -8 4 4 .6 4 .1 3 .9 3 .5 2 .2 0 .5 -Ò .3 Ò .5 7 .1 1 2 -8 4 4 .0 3 .6 3 .2 2 .8 1 .6 0 .2 -0 .5 0 .0 3 .0 -1 .0 1 -8 5 3 .9 3 .5 3 .2 2 .9 1 .8 0 .7 0 .2 0 .7 3 .0 1 .0 3 .0 lii.i 123.2 1 2 3 .5 1 2 3.3 12 2 .7 -* .? 1 2 3.4 12 3.3 1 2 3 .6 1 2 3 .7 2 -8 5 3 .7 3 .3 3 .0 2 .6 1 .7 0 .7 0 .3 0 .8 2 .5 1 .0 2 .0 1 .0 3 -8 5 3 .6 3 .2 3 .0 2 .7 1 .9 1 .0 0 .7 1 .1 2 .6 1 .5 2 .3 2 .0 2 .9 4 -8 5 3 .4 3 .1 2 .8 2 .5 1 .8 1 .0 0 .7 1 .1 2 .3 1 .4 2 .0 1 .6 ¿ .0 1 .0 5 -8 5 3 .2 2 .8 2 .6 2 .3 1 .6 0 .9 0 .6 1 .0 2 .0 1.1 1 .6 1 .2 1 .3 0 .5 12 4.0 12 4.1 124.1 0 .0 6 -8 5 3 .1 2 .8 2 .6 2 .3 1 .6 1 .0 0 .8 1 .1 ¿ .0 1.3 1 .6 1 .4 1 .5 1 .0 1 .0 2 .0 7 -8 5 2 .8 2 .5 2 .2 2 .0 1 .4 0 .7 0 .5 0 .8 1 .5 0 .9 "" 1 .1 0 .8 o .é Ó .¿ 6*0 0 .Ô -1 .* 12 4.3 7 .0 12 4.1 8 -8 5 3 .1 ¿ .7 2 .5 1 .7 1 .2 1 .1 1 .3 ¿ .1 “l . r l.è " 1 .7 1 .8 1 .6 1 .7 2 .3 2 .4 9 -8 5 2 .8 2 .5 2 .3 2 .1 1 .6 1 .0 0 .9 1 .1 1 .8 l.y 1 .5 1 .3 1 .4 1 .1 1 .2 1 .5 1 .5 2 .4 -1 .0 2 -8 4 3 -8 4 4 -8 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -8 4 1 2 -8 4 1-8 5 2 -8 5 3 -8 5 4 -8 5 5 -8 5 6 -8 5 7 -8 5 8 -8 5 1 2 4 .8P 1 2 4 .7P I N I T I A L MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS TE .TôéÉTT iô » l 9 è i 7 PERSONAL RAT 10 S C A L E TR I L L I O N S 3 3 OF MONTHLY DOLLARS TOTALS I NCOME AT SEASONALLY ANNUAL RATIO RATES TRILLIONS ADJUSTED OF SCALE DOLLARS 3.5 3.4 3.3 3.2 3. 1 3 .0 2.9 2.8 2.7 2.6 2.5 4 3 2 1 0 .9 .8 .7 .6 .5 .4 .3 I . . 2 SOURCE: PERCEN TAGES ARE ANNUAL RATES OF CHANGE FOR PER IO D S L A T ES T DATA PLO TTED t U .S . DEPARTMENT OF COMMERCE IN D IC A T ED . SEPTEMBER P R E L IM IN A R Y PREPARED BY FED ERAL RESERVE BANK OF S T . LO U IS PERSONAL INCOME COMPOUNOED ANNUAL RATES Of CHANGE 2 -8 4 3 -8 4 7*2 4 -6 4 9 ,6 4 -6 4 5 -8 4 6 -8 4 7 -8 4 8 -8 4 9 -8 4 1 0 -8 4 1 1 -6 4 1 2 -6 4 1-85 2 -8 5 3 -6 5 4 -8 5 5 -8 5 6 -8 5 7 -8 5 2 ,9 6 8 .5 2 ,9 7 8 .8 7 ,6 8 .1 9*3 7 .9 1 1 .7 J 12*0 8^8 9*2 8*2 1 0 .3 8 .8 8 .5 8 .8 8 .0 9 .3 8 .1 7.-4 4 .2 3 ,0 0 6 .5 3 ,0 2 7 .7 3 ,0 4 5 .8 3 ,0 6 8 .3 9 -8 4 8 ,6 8*9 8 .3 9 .3 8 .5 8 .3 9 .2 1 0 -8 4 8 .1 8 .2 7 .6 8 .3 7 .4 7 ,0 6 .8 4 .4 U -8 4 8 .0 8 ,1 7 .6 8 .1 7 .4 7 .1 7 .0 5 .8 7 .3 1 2 -6 4 7*8 7 .8 7*3 7 .8 7 .1 6 .8 6 .6 5 .8 6 .5 5 .7 1 -8 5 7 .7 7*7 7 .3 7 .7 7 .1 6 .8 6 .7 6 .1 6 .6 6 .3 6 .9 6 .7 6 .2 6 .6 6 .4 6 .8 3 ,0 7 9 .3 3,0 97* 5 3 ,1 11* 8 3 ,1 2 9 .2 3 ,1 4 6 .0 2 -8 5 7 .6 7*6 7 .2 7 .6 7 .0 6 .8 3r8 5 . 7*3 T.*3 6*9 7 .2 6 -7 6 .4 6 .3 5 .8 6 .1 5 .8 5 .8 5 .3 4 .0 7 *6 7*6 7*3 7*6 7 .2 7 .0 6 .9 6 .6 7 .0 6 .9 7 .2 7 .3 7 .6 A 1 .4 6*5 6*5 6*1 6 .2 5 .7 5 .4 5 .2 4 .7 4 .7 4 .3 4 .0 3 .3 2 .3 1 .4 -7 .6 6 -8 5 6*4 6*3 6*0 6 .1 5 .6 5 .3 5 .1 4 .7 4 .7 4 .4 4 .1 3 .6 2 .9 2 .5 -1 .7 4 .6 7 -6 5 6*3 6 .3 5 .9 6 .0 5 .6 5 .3 5 .1 4 .7 4 .B 4 .5 4 .3 3 .8 3 .3 3 .1 0 .5 4 .9 5 .1 8 -6 5 6 .2 6 .1 5 .8 5 .9 5 .5 5 .2 5 .0 4 .7 4 .7 4 .4 4 .2 3 .9 3 .4 3 .3 1 .4 4 .6 4*5 4 .0 9 -6 5 6 ,1 6 .0 5 .7 ___ 5 .8 ___ 5 .4 ____ 5 .1 4 . 9 __ 4 . 6 ____4 . 6 ___ 4 . 4 ___4 . 2 3 .9 3 ,5 3 .4 1 .9 4 .4 4 .3 3 ,9 2 -8 4 3—84 1-Ô5 2^5? 3F53 4 -8 5 5 -8 5 6 -8 5 7 -6 5 ..4rA£__ 5 -8 5 8 -8 5 2 ,9 4 0 .6 6—84 8 -8 4 . 3 -8 4 5— $4 7 -8 4 B ILL IO N S OF DOLLARS ANWja L f t A T Ïi I N I T I A L MONTH TERMINAL MONTH ' 4—84 5 -8 4 6 -0 4 >84 8 -8 4 9 -8 4 1 0 -6 4 l l - è 4 E 2 -Ô 4 6 .6 3 ,1 5 6 .2 3 ,1 8 4 .7 3 ,1 6 3 .7 3 ,1 7 5 .7 3 ,1 8 8 .8 3 ,1 9 9 .3 3 .9 _____3 *2 0 9 .4 P 9 -Ö 5 r e r m rie s R T R PRELIMINARY W & À R E O SV W 0 W S L ”R E 5 tA V t ftAHK OF S T . LO UIS OCTOBER 18» 19B5 8 RETAIL RATIO SALES SCALE BILLIONS OF 1977 RATIO DOLLARS 1978 SEASONALLY 1979 1980 BILLIONS ADJUSTED 1981 1982 1983 SOURCE: PERCEN T AG ES ABE ANNUAL RATES OF CHANGE FOR P ER IO D S LA T E S T DATA PLO TTE D t U .S . OF 1984 SCALE DOLLARS 1985 DEPARTMENT OF COMMENCE IN D IC A T E D . AU G U ST, SEPTEM BER ADVANCE ES TIM ATE PREPARED BY FED ERAL R ESERV E BANK OF S T . L O U IS R E TA IL SALES _________________________________ COMPOUNDED A NNUAL RAT E S O f CHAf*&£_________________________________ u> j TER R I HAL__________________________________________________________________ IN I T I A L MONTH__________________________________________________________________ MILLIONS OF DOLLARS MONTH a -8 4 2 -8 4 3 -8 4 4 -8 4 5 -8 4 6—84 7 -8 4 9 -8 4 10 -8 4 1 1 -8 4 1 2 -8 4 4 -6 5 5 -8 5 6 -6 5 7 -8 5 8 -6 5 1 -8 5 2 -8 5 1 -8 4 - -1 2 .8 4 -8 4 10.1 3 9 .2 5 -8 4 8 .6 2 1 .3 6 -8 4 9 .8 1 8 .6 9 .5 1 3 .5 7 - A4 4 .2 9 .0 0 .4 -2 .1 -1 5 .5 8 -8 4 3 .2 6 .7 -0 .1 -2 .0 -6 .9 -1 .8 9 -8 4 4 .3 7 .5 2 .1 1 .2 -2 .6 4 .6 1 1 .5 1 0 -8 4 4 .6 7 .4 2 .9 2 .3 -0 .3 5 .4 9 .1 6 .9 11—64 _5 .8 8 .3 4 .5 4 .3 2 .6 7 .7 1 1 .1 1 0 .9 1 5 .1 1 2 -8 4 4 .9 7 .1 3 .7 3 .4 1 .8 5 .6 7 .6 6 .3 6 .0 -2 .3 1 -8 5 5 .4 7 .4 4 .4 4 .2 3 .0 6 .4 6 .2 7 .4 7 .5 4 .0 1 0 .6 2 -8 5 6 .0 7 .9 5 .2 5 .2 4 .2 7 .3 8 .9 8 .4 8 .8 6 .6 1 1 .7 3 -8 5 5 .3 7 .0 4 .5 4 .4 3 .4 6 .0 7 .2 6 .5 6 .5 4 .4 6 .8 4 .9 -2 .6 4 -8 5 7 .8 9 .5 7 .4 7 .5 6 .9 9 .6 1 1 .3 1 1 .3 1 2 .0 11 .5 1 5 .2 1 6 .7 1 8 .7 4 4 .7 5 -8 5 6 .9 8 .4 6 .4 6 .4 5 .8 6 .2 9 .4 9 .1 9 .5 8 .6 1 0 .9 1 1 .0 10*3 1 7 .4 -4 .6 6 -8 5 5 .6 7 .0 5 .0 4 .9 4 .3 6 .3 7 .1 6 .6 6 .1 4 .4 6 .9 -6 ,1 - 1 1 ,4 7—85 5 .7 7 .0 5 .2 5 .1 4 .5 6 .4 7 .2 8 -8 5 7 .0 6 .3 6 .6 6*7 6 .2 6 .1 9 .0 9 -8 5 8 .5 9 .8 6 .3 8 .4 6 .1 1 0 .0 2 -8 4 3 -8 4 4 -8 4 5 -8 4 6 -8 4 7 -8 4 104.525 107.443 107,941 5 .7 109.085 107.563 10 7,396 108.373 108.974 110,255 110.042 110.972 112,09 6 1 2 .9 111*654 115*351 114,88 4 1 1 3,7 30 6 .6 5 .5 6 .8 6 .7 6 .7 5 .7 6 .9 6 .3 5 .0 7 .0 -3 ,2 -2 .4 7 ,5 8 .8 8 .9 8 .3 9 .7 9 .6 9 .0 1 1 .5 4 .5 7 .7 1 8 .6 3 1 .3 1 1 .0 1 0 .9 1 1 .3 1 0 .9 1 2 .5 1 2 ,6 1 2 ,8 1 5 ,5 _ 1Q .4 1 4 .6 ^ 4 , 9 34»i> 3 8 .0 6 -6 4 9 -8 4 1 0 -6 4 1 1 -6 4 1 2 -8 4 1 -8 5 2-6 5 3 -8 5 5 -6 5 7 -6 5 8 -6 5 4 -6 5 6 -8 5 11 4.417 U 7 .0 4 0 P U ib 2 2 7 E I N I T I A L MONTH P - PRELIMINARY -£=■ ESTIMATED____________________________________ ________________________________________________________________________________________________________________________ PREPAREO BY FEDERAL RESERVE BANK OF S T . LOUIS 0CT06ER I I , 1965 9 HOURLY COMPENSATION, BUSINESS SECTOR CONFOUNDED ANNUAL RATES OF CHANCE 4 -8 0 1 -8 1 2 -8 1 3 -6 1 4 -8 1 1 -8 2 2 -8 2 3 -6 2 4 -8 2 1 -8 3 2 -8 3 3 -8 3 1 -8 4 4 -8 3 2 -6 4 3—# 4 4 -6 4 1 -8 5 2 -6 5 1 3 9 .2 i-e i 10*7 2 -8 1 9 .0 7 .4 3 -8 1 9 .3 8 .7 1 4 1 .7 145*1 9 .9 147*6 4 -8 1 8 .8 8 .1 8 .5 7 .1 1—82 9 .2 8 .8 9 .2 8 .9 1 0 .7 2- « 2 8 .8 8 .4 8 .6 8 .2 8 .7 6 .8 1 5 1 .4 1 5 3 .9 1 5 6 .7 3 -8 2 8 .6 8 .2 8 .4 8 .0 8 .3 7 .1 7 .5 4 -8 2 8 .0 7 .7 7 .7 7 .3 7 .3 6 .2 5 .9 4 .4 1 -8 3 7 .7 7 .3 7 .3 6 .8 6 .8 5 .8 5 .5 4 .5 4#6 6 .0 5 .0 4 .6 3 .7 3 .3 2 .0 2 -8 3 1977*100 I N I T I A L QUARTER TERMINAL QUARTER 7 .1 6 .7 6 .6 6 .1 1 5 8 .4 1 6 0 .2 1 6 1 .0 3 -8 3 6 .6 6 .2 6 .1 5 .6 5 .4 4 .5 4 .1 3 .3 2 .9 2 .0 2 .0 4 -8 3 6 .6 6 .2 6 .1 5 .6 5 .5 4 .7 4 .4 3 .8 3 .7 3 .3 4 .0 6 .1 1 -8 4 6 .5 6 .2 6 .1 5 .7 5 .6 4 .9 4 .7 4 .2 4 .2 4 .1 4 .7 6 .1 2 -8 4 6 .2 5 .9 5 .7 5 .4 5 .2 4 .6 4 .3 3 .9 3 .8 3 .6 4 .0 4 .7 4 .1 1 .9 3 -8 4 6 .1 5 .8 5 .6 5 .3 5 .1 4 .6 4 .3 3 .9 3 .9 3 .8 4 .1 4 .6 4 .2 3 .1 4 .4 4 -8 4 6 .0 5 .7 5 .5 5 .2 5 .0 4 .5 4 .3 4 .0 3 .9 3 .8 4 .1 4 .6 4 .2 3 .5 4 .3 1 6 1 .6 1 6 4 .2 1 6 6 .7 6 .2 1 6 7 .5 1 6 9 .3 1 7 1 .1 4 .3 1 -8 5 5 .9 5 .6 5 .5 5 .2 5 .0 4 .6 4 .4 4 .1 4 .0 3 .9 4 .2 4 .6 4 .3 3 .8 4 .5 4 .5 4 .8 2 -8 5 5 .7 5 .5 5 .3 5 .0 4 .9 4 .5 4 .3 4 .0 3 .9 3 .9 4 .1 4 .4 4 .1 3 .7 4 .2 4 .1 4 .0 3 .3 3 -8 5 5 .7 5 .5 5 .4 5 .1 4 .9 4 .5 4 .4 4 .1 4 .1 4 .0 4 .3 4 .6 4 .3 4 .0 4 .5 4. 5 4 .5 4U 5*6 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -6 2 1-8 3 2 -8 3 3 -8 3 4 -8 3 1—« 4 2 -8 4 3 -6 4 4 -8 4 1 -6 5 2 -6 5 1 7 3 .1 1 7 4 .5 1 7 6 .9P IN I T I A L QUARTER P - r * & u sm *v V sr?ryT r i r E a o c j H - f i M n CONFOUNDED ANNUAL RATES CIF CHANCE TERMINAL QUARTER 1 I N I T I A L QUARTER 4 -6 0 1 -6 1 v 1 -6 1 2 -6 1 3 -8 1 4 -6 1 1 -8 2 2 -6 2 3 -6 2 4 -8 2 1 -6 3 2 -6 3 1977*100 3 -6 3 4 -6 3 1 -8 4 3 -6 4 4 -6 4 1 -8 5 2 -6 5 100*5 6 .2 100*6 0*4 2 -6 1 3*3 3 -6 1 3*4 2 .0 3 .6 4 -6 1 1 .3 -0 .3 -0 .6 -4 .6 1 -6 2 1 .5 0*4 0 .4 -1 .2 2 -8 2 0 .9 -0 .2 -0 .3 -1 .6 0*0 -2 .4 3 -6 2 1 .1 0 .3 0 .2 -0 * 6 0 .8 0 .0 2 .4 4 -6 2 1 .3 0*6 0 .7 0*1 1 .3 0 .9 2 .6 2 .8 101*5 1 0 0 .3 1 0 0 .9 2*4 1 0 0 .3 100*9 101*6 1 -6 3 1 .4 0*6 0 .9 0*5 1 .5 1 .3 2 .5 2 .6 2 .4 2 -6 3 1 .6 1 .4 1 .5 1 .2 2*2 2 .1 3 .3 3*6 4 .0 5 .6 3 -6 3 1 .9 1 .5 1 .6 1 .4 2*3 2 .2 3 .2 3 .4 3 .6 4*2 1 0 2 .2 3 .0 3 .1 3*3 1 0 3 .6 2 .7 104*3 4 -8 3 1 .9 1 .5 1*6 1 .4 2 .2 2 .1 2*9 2*1 1*5 1 -6 4 2*0 1 .7 1*6 1*6 2*4 2 .4 3 .0 3 .1 3*2 3*4 2 .7 2*7 3 .9 2 -6 4 2 .2 1 .9 2 .1 1 .9 2*6 2*6 3 .3 3 .4 3 .5 3*7 3 .3 3*5 4*4 5*0 2*4 2 .5 3*0 3 .1 3 .1 3*2 2 .6 2 .6 3 .2 2*9 2 .1 4 -6 4 1 -6 5 2 -6 5 1 0 4 .7 1 0 5 .7 1 0 7 .0 0 .7 1 0 7 .2 1 .9 o • (VI 3 -6 4 3 -6 5 2 -6 4 1*6 2 .2 1 .9 2*0 1*9 2 .5 2*5 3*0 3 .1 3 .1 3*2 2 .6 2 .6 3 .2 2 .9 1 .9 3 .0 1 .6 1 .6 1*6 1*5 2 .0 1*9 2 .3 2 .3 2 .3 2*3 1 .6 1 .7 1*7 1*1 -0 .1 -0 .6 -4 .0 1*6 1 .6 1*4 1*5 1 .9 1*9 2*3 2 .3 2*2 2*2 1*6 1 .6 1*6 1*2 0*3 0*1 -1 * 3 1*5 I* è 1*4 1*5 3U 0*6 0 .1 ¿*3 3*0 3 -6 3 4 -6 3 1 -6 4 3 -6 4 4 -6 4 1 -6 5 2 -6 5 1*9 1*6 4 -* 0 1 -6 1 1 .7 1*6 2 .0 3“ 61 4 -6 1 2*0 ¿*3 2 .3 2 .3 2*3 1 .9 2 -6 2 3 -6 * 4 -6 2 1-6 3 2 -6 3 1 0 6 .0 1 0 6 .9 1 0 7 .3 106*IP o 1“ « 2 -6 4 I N I T I A L QUARTER P - PRELIMINARY PREPARED I Y FEDERAL RESERVE BANK OF S T . U A H * OCTOBER 2 t , 1 M 5 10 P R O D U C T IV IT Y , RATIO COMPENSATION, AND LABOR CO STS SCALE RATIO 1977-100 1977 1978 19 79 1980 1981 1982 1983 »♦ M C E . PERCf N T A 4 C S AltC A N M U L L A TE S T »A T A P L0TTE& t R A T E S O f CH AM «£ F M M l M A IT E R P tR ltO S SCALE 1977-100 S E A S O N A L LY AO JU STEO b 1984 1985 . s . » t f A n n t t ir r of la *m IW IC A T E D . P*EL IM l MARY P tE P A A E » » Y FEDERAL RESERVE M W #f S T. L O O tS COMPOUNDED ANNUAL RATES OF CHANCE 1977*100 I N I T I A L QUARTER TERM DIAL QUARTER 4 -6 0 1 -8 1 2 -6 1 3 -8 1 4 -8 1 1 -8 2 2 -8 2 3 -8 2 4 -6 2 1-83 2 -8 3 3 -6 3 4 -6 3 1 -8 4 2 -8 4 3 -6 4 4 -6 4 1 -6 5 2 -6 5 1 3 8 .5 1 -8 1 4 .1 2—61 5 .6 7 .1 3 -4 1 5 .7 6 .5 5 .8 1 4 0 .9 1 4 2 .9 - 1 4 7 .1 4 -« l 7 .3 8 .4 9 .0 1 2 .3 1 -6 2 7 .5 6 .3 8 .7 1 0 .2 8 .1 8 .7 9 .4 1 5 0 .0 1 5 3 .4 2—*2 7 .6 8 .5 8 .9 9 .9 3—62 7 .4 7 .9 8 .1 8 .7 7 .5 7 .2 5 .0 4 -6 2 6 .6 7 .0 7 .0 7 .2 6 .0 5 .3 3 .3 1 .6 1—63 6 .1 6 .4 6 .3 6*4 5 .2 4 .5 3 .0 1 .9 2 .3 1 5 5 .3 1 5 5 .9 1 5 6 .8 2—63 5 .1 5 .3 5 .0 4 .9 3 .7 2 .9 1 .3 0 .1 -0 .6 -3 .5 3 -6 3 4 .6 4 .6 4 .4 4 .2 3 .1 2 .3 0 .9 -o .l -0 .7 -2 .2 -0 .8 4 -6 3 4 .6 4 .6 4 .4 4 .2 3 .2 2 .6 1 .5 0 .6 0 .6 0 .0 1 .8 4 .5 1 5 5 .4 1 5 5 .1 1 5 6 .8 1 -6 4 4 .4 4 .4 4 .2 4 .0 3 .1 2 .5 1 .6 1 .0 0 .9 0 .6 2 .0 3 .4 2 .3 2 -6 4 3 .9 3 .6 3 .6 3 .4 2 .5 1 .9 1 -0 0 .4 0 .3 -0 . 2 0 .7 1 .2 -0 .4 -3 .0 1 5 7 .7 3 -6 4 3 .9 3 .8 3 .6 3 .4 2 .6 2 .1 1 .3 0 .9 0 .6 0 .5 1 .3 1 .9 1 .0 0 .4 3 .9 2*4 1 .0 1 5 6 .5 1 5 8 .0 4 -6 4 3 .7 3 .4 3 .4 3 .2 2 .5 2 .0 1 .3 0 .9 0 .8 0 .6 1 .3 1 .7 1 .0 0 .6 1 -6 5 4 .0 4 .0 3 .8 3 .6 3 .0 2 .6 2 .0 1 .7 1 .7 1 .6 2 .4 2 .9 2 .6 2 .7 4 .6 5 .0 9 .1 2 -6 5 3 .9 3 .6 3 .6 3 .5 2 .9 2 .5 2 .0 1 .7 1 .7 1 .6 2 .3 2 .7 2 .5 2 .5 3 .9 3 .9 5 .4 1 .7 3 -6 5 3 .6 3 .6 3 .6 3 .4 2 .9 2 .5 2 .0 1 .6 1 .8 UT 2 .3 2 .7 2 .5 ¿ .5 3 .6 3 .* 4 .4 2 .1 2 .5 4 -6 0 1 -6 1 2 -6 1 3 -6 1 4 -6 1 1 -8 2 2 -8 2 3 -6 2 4 -8 2 1-63 2 -6 3 3 -6 3 4 -6 3 1 -6 4 2 -6 4 3 -6 4 4—64 1 -8 5 2—6 5 1 5 8 .4 1 6 1 .9 1 6 2 .6 16 3 .6 P I N I T I A L QUARTER P - PRELIMINARY PREPARB) BY PEOCRAL RESERVE BAMR OF S T . LO U IS KTtti* 11 ------------- — ---- CROSS NATIONAL PRODUCT IN CURRENT DOLLARS COMPOUNDED ANNUAL RATES OF CHANCE O ÌL L lÒ N i <W DOLLARS ÀMWUÀL ftÀTÉS- I N I T I A L QUARTER ..T W f NAl QUARTER 2 -6 1 1 -8 1 4 -8 0 3 -8 1 4 -8 1 1-8 2 2 -8 2 3 -8 2 4 -6 2 1 -6 3 2 -8 3 3 -8 3 4 -8 3 1 -6 4 2 -6 4 3 -8 4 4 -8 4 2 2 .1 1 3 .7 6 .0 3 -8 1 1 3 .5 9 .5 1 3 .1 4 -8 1 1 0 .7 7 .1 7 .7 1 -8 2 8 .4 5 .2 2 -8 2 2 .9 1 8 .0 3 ,0 0 9 .3 3 .0 2 7 .9 2 .5 1 .1 -0 .3 3 * 0 2 6 .0 7 .8 5 .1 4 .9 2 .3 2 .2 4 .7 3—82_ 7 .0 4 .7 4 .4 2 .4 2 .3 3 .6 4 -6 2 6 .6 4 .6 1 -8 3 6 .6 5 .1 2 -6 3 7 .4 5 .8 3 -6 3 7 .6 6 .3 6 .3 4 -8 3 7 .8 6 .6 1 -6 4 8 .4 7 .3 3 .0 6 1 .2 2 .5 3* 0 8 0 .1 2 .7 2 .7 3 .7 3 .2 3 .9 3 .6 3 .6 4 .9 4 .9 6 .2 8 .5 4 .8 5 .2 6 .3 6 .7 6 .2 1 0 .4 1 2 .3 5 .5 5 .9 6 .9 7 .4 8 .7 1 0 .3 1 1 .2 1 0 .1 6 .7 6 .0 6 .5 7 .5 7 .9 9 .0 1 0 .4 1 1 .0 1 0 .3 1 0 .6 7 .4 6 .9 7 .4 8 .4 8 .9 10 .0 1 1 .3 1 2 .0 1 1 .9 1 2 .7 L O .l 1 1 .2 1 1 .7 1 1 .6 3 * 1 0 9 .6 3 .1 7 3 .8 3 .2 6 7 .0 3 .3 4 6 * 6 3 ,4 3 1 .7 3 ,5 5 3 .3 1 4 .9 3 ,6 4 4 .7 & ♦ o 4 .9 12 .8 3 -8 4 8 .3 7 .4 7 .5 7 .1 7 .5 8 .3 8 .7 9 .5 1 0 .4 1 0 .7 1 0 .3 1 0 .4 1 0 .3 8 .1 5 .6 4 -8 4 8 .3 7 .4 7 .5 7 .1 7 .5 8 .2 8 .6 9 .3 9 .9 10 .1 9 .8 9 .7 9 .5 7 .6 6 .4 7 .1 1 -6 5 8 .1 7 .3 7 .4 7 .0 7 .3 6 .0 8 .3 8 .9 9 .5 9 .6 9 .2 9 .0 8 .7 7 .2 6 .1 6*4 5 .6 8 .5 2 -8 5 2 .8 7 5 .8 1 -8 1 2 -8 1 2 -8 4 1 -8 5 7 .6 7 .7 7 .2 7 .7 8 .6 9 .1 1 0 .7 3 .6 9 4 .6 3 ,7 5 8 .7 3 ,8 1 0 .6 2 -8 5 7 .9 7 .1 6 .8 7 .1 7 .7 6 .0 8 .5 9 .0 9 .0 8 .6 8 .4 8 .0 6 .7 5 .7 5 .8 5 .1 4 .5 3 -8 5 7 .8 7 .1 6 .8 7 .1 7 .6 7 .9 8 .3 8 .7 6 .6 6 .4 8 .2 7 .8 6 .7 5 .9 6 .0 5 .6 5 .6 6 .7 M 3 H 3 1-S4 2-ft4 3-6 4 4-84 1-95 2 -« 5 V 6 Ô — 1=51— 2 h ïI— 3-Ö1 4-81— 1 = « — 2=æ — 3-ê2 4-62— 1-63 T -= IT 3 ,8 5 3 .1 3 , 9 1 6 . IP ---------------------------------------------------------------------------------------------- INITIAL QUOTES------------------------------ ---------------------------------------------------------P - M E ltM IM A ftV CROSS NATIONAL PRODUCT IN 1972 DOLLARS COMPOUNDED ANNUAL RATES OF CHANCE TERMINAL Q U AR T» 4 -6 0 1 -6 1 2 -6 1 3 -6 1 4 -8 1 1-8 2 2 -6 2 3 -6 2 M T r n qu a r t e r ANNUAL RATES 4 -6 2 1 -6 3 2 -6 3 3 -6 3 B IL L IO N S OF DOLLARS 4 -8 3 1 -6 4 2 -> 4 3 -8 4 4 -8 4 1 -6 5 2 H i 5_________ _______ 1 -Ü 1 ____ 1O tO 1.5 1 1 * 7 1 ,5 2 2 .1 4 .0 1 .1 2*8 4 -6 1 1*6 -1 * 1 -1 * 4 -5 * 4 1 -6 2 0*3 -2 * 0 -2 * 5 -5 * 0 3 -8 1 1 .5 0 1 .3 -4 .7 1 .4 8 3 .5 1 ,4 8 0 .5 2 -6 2 0 .1 -1 * 7 -2 .1 -3 .6 -2 .8 -0 .8 3 -6 2 0 .0 -1 * 6 -1 * 6 -3 .0 -2 * 1 -0 .9 -0 .9 4 -8 2 0*0 -1 * 3 -1 * 5 -2 .3 -1 .5 -0 .4 -0 .2 1 -6 3 0 .4 -0 * 7 -0 * 8 -1 .4 -0 .5 2 -8 3 1*3 0*3 0*4 0*1 1 .0 3 -8 3 1*6 1*0 1*1 0 .9 1 .8 3 .0 2 .4 4 -6 3 2*1 1*4 1*6 1*5 1 .4 7 7 .1 0 .5 1 .4 7 8 .8 0 .5 1 .9 3 .3 1 .4 9 1 .0 2 .2 4 .3 6 .3 9 .4 3 .7 4 .9 6 .5 8 .1 6 .8 3 .4 4 .1 5 .1 6 .3 7 .4 6 .4 5 .9 1 .5 2 4 .8 1 .5 5 0 .2 1 .5 7 2 .7 1 .6 1 0 .9 1 -6 4 2 .7 2*1 2*3 2*3 3 .2 4 .2 4 .9 7 .1 8 .0 7 .6 8 .0 1 0 .1 2 -6 4 3 .0 2*5 2 .7 2 .7 3 .6 4 .5 5 .2 6 .1 7 .1 7 .9 7 .5 7 .7 6 .6 7 .1 3 -6 4 2 .9 2*4 2 .6 2 .6 3 .4 4 .2 4 .6 5 .5 6 .3 6 .6 6 .3 6 .1 6 .2 4 .3 1 .6 4 -6 4 3 .0 2*5 2 .8 2*8 3 .5 4 .2 4 .7 5 .4 6 .0 6 .4 5 .9 5 .7 5 .7 4 .3 2 .9 4 .2 1 .6 3 8 .6 1 .6 4 5 .2 1 ,6 6 2 .4 1 ,6 6 3 .5 1 -6 5 2*6 2*4 2*6 2*6 3 .2 3 .9 4 .3 4 .9 5 .4 5 .6 5 .1 4 .8 4 .6 3 .3 2 .0 2 .2 0 .3 2 -6 5 2 .8 2*4 2*5 2*5 3 .1 3 .7 4 .1 4 .6 5 .0 5 .2 4 .7 4 .4 4 .1 3 .0 2 .0 2 .1 1 .1 1 .9 3 -6 5 2 .6 2*4 2*6 2*6 3 .1 3 .7 4 .1 4 .5 4 .9 5 .0 4 .5 4 .3 4 .0 3 .0 2 .2 2 .4 1 .6 2 .6 3 .3 4 -6 0 1 -8 1 2 -6 1 3 -8 1 4—81 1-8 2 2 -6 2 3 -8 2 4 -6 2 1-6 3 2 -é i 1 -6 4 2 -6 4 3 -6 4 4 -6 4 1 -6 5 2 -6 5 1.6 7 1 * 3 1.6 64* 8P IklTiAl OU a R T C F P - PRELIMINARY «É # À A É D ftV É Ë Ô Ô U L ftÉSEAVË AANK OP S T . LO U IS OCTOBER 1 7 . 1965 12 GROSS N AT I ONAL PRODUCT RAT 10 S C A L E QUARTERLY TOTALS AT ANNUAL RATES RATIO SCALE TRI L L I O N S OF D O L L A R S SEASONALLY ADJUSTED T R I L L I O N S OF D O L L A R S 2 4 1 0 9 8 7 6 5 4 3 2 3 3 1 8 7 6 2 2 2 1. 9 2 .8 2 1. 1. 5 1. 4 1. 1. . 1977 1978 1979 1980 1981 1982 SOURCE: PERCENTAGES ARE ANNUAL RATES OF CHANGE FOR P E R IO D S LATEST O M A PLOTTED, QUARTER PRELIMINARY U .S . 1984 1985 DEPARTMENT OF COMMERCE IN D IC A T E D . |y 13 1983 ^ ^ I GENERAL RATIO PRICE INDEX* SCALE 1977 • A S USED RATIO 1978 IN N ATIO NAL 1979 1980 1981 1983 SOURCE: PERCEN T AG ES ARE ANNUAL RATES OF CHANGE FOR PER IO D S L A T E S T DATA PLO TTED: 1982 INCOME ACCOUNTS U .S . 1984 SCALE 1985 DEPARTMENT OF COMMERCE IN D ICAT ED . 3RD OUARTER PR E L IM IN A R Y PREPARED BY FED ERAL RESERVE BANK OF S T . LO U IS IM P L IC IT PRICE DEFLATOR FOR GROSS NATIONAL PRODUCT _________________________________________________________________ CONPOUNPiP ANNUAL RATES OF CHANGE__________________________________________________________________ TERMINAL__________________________________________________________________ ENETIAI W A R TER _________________________________________________________________197? - 100 QUARTER ___________4 -0 0 1 -0 1 2 -6 1 3 -3 1 4 -0 1 1 -« Z -X i 3 -8 2 * -0 2 1 -6 3 2~83 3 -8 3 4 -0 3 1 -6 4 2 -0 4 3 -8 4 4 -8 4 1 -8 5 2 -8 5 ________________ --- ± 2 -e i 8*7 6*5 3 -8 1 9*2 B*3 10*0 4—61 0 .9 8*3 9*2 0*3 1—82 f l.l 7*4 7 .6 6 .5 193*03 1 9 7 .7 0 2 0 1 .6 9 4 .6 2 0 3 .9 0 2 0 6 .7 7 2 -8 2 7*6 7*0 7*1 6*2 5 .1 5*6 3 -0 2 7 .0 6*4 6 .4 5*5 4 .5 4*5 3*4 4 -8 2 6*6 6*0 5 .9 5*1 *•3 4 .1 3*4 3*4 1 -9 3 6*4 5*0 5*7 5*1 4 .4 4 .4 4 .0 4 .2 5*0 2 -8 3 6 .0 5 .5 5 .4 4*7 4*1 4*0 3*6 3*7 3*0 2*6 3— 83 5 .7 5 .2 5 .1 4 .5 4*0 3*9 3*5 3*5 3*6 2*9 3*1 5*0 4*5 4 .0 3*9 3*7 3*7 3*0 3*4 3 .7 4 .4 4—83 5 .6 5*2 2 0 0 .5 3 2 1 0 .2 7 2 1 2 .0 7 2 1 4 .2 5 2 1 5 .0 9 2 1 0 .2 1 2 2 0 .5 0 1 -8 4 5 .5 5 .1 5*0 4*5 4 .1 4 .0 3*0 3*0 3*9 3*6 4 .0 4 .4 4 .4 2 -8 4 5 .4 5*0 4 .0 4 .4 4 .0 3*9 3*7 3*7 3*0 3*6 3 .0 4 .0 3 .9 3 .3 3—8 4 5 .3 4*9 4*0 4*3 4*0 3*9 3*7 3 .0 3*0 3*6 3*0 4 .0 3 .9 3 .7 4*0 4 -8 4 5*1 4* 7 4 .6 4*2 3*9 3 .0 3*6 3 .7 3*7 3 .5 3 .7 3 .0 3 .6 3 .4 3*4 2*0 1 -8 5 5*1 4*0 4*7 4*3 4 .0 3 .9 3*0 3*0 3*9 3 .7 3*9 4 .0 4*0 3 .0 4 .0 4*0 5*4 2 -8 5 5*0 4* 7 4*5 4 .2 3*9 3*0 3*7 3*7 3*0 3 .6 3 .7 3 .0 3*7 3 .6 3 .7 3 .6 4*0 2 .6 3*3 2 -0 5 3 -6 ? 4*9 4* 6 4 .3 4*1 3 .9 3*0 4 -0 0 1 -0 1 2 -0 1 3 -0 1 4 -0 1 1—02 3*7 2 -« 2 2 2 .4 0 2 2 4 .5 7 2 2 6 .1 0 2 2 9 .0 7 3*7 3*7 3 .6 3 .7 3*0 3*7 3*6 3*6 3*5 3*0 3*0 3 -0 2 4 -0 2 1-0 3 2 -0 3 3 -0 3 4 -0 3 i —04 2 -0 4 3 -0 4 4 -0 4 1—05 2 3 0 .5 5 23 2.44 P I N I T I A L QUARTER P - PRELIMINARY PREPAREO BY FEDERAL RESERVE 0AWC OF S T . LOUIS OCTOBER 1 7 , 1985 14 PERSONAL CONSUMPTION EXP©© I TUR ES IN CURRENT DOLLARS ____________ COMPOUNDED ANNUAL RATES OF CHANGE______________ B ILL IO N S OF DOLLARS ANNUAL RATES IN I T I A L QUARTER Q U AR T« 4—80 1 -8 1 2 -6 1 3 -8 1 4—81 1 -8 2 2 -8 2 3 -6 2 4 -6 2 1-83 2 -6 3 3 -6 3 4 -6 3 1 -6 4 2 -8 4 3 -6 4 4 -6 4 1 -8 5 ¿ -8 5 1» 7 9 7 ,9 i-n . . .... .... 2 -6 1 10*3 7 ,2 1 ,8 2 9 .3 3 -6 1 10*5 9 .0 1 0 .9 4-61 6*6 7 .0 6 .9 3.1 1 ,8 7 7 .3 1 ,8 9 1 .6 1 -f 2 !.•*. 7 .4 7.5 5 .6 2 -6 2 6*2 7.2 7.2 6 .0 7*4 6*3 _ * -# 2 6r3 7 .4 7.5 6 .6 7*8 7*4 6*5 4-6 ? 6 .4 7 .7 7.8 7.1 6 .2 6 .0 6 .9 8*6 1 ,9 3 1 .3 1 ,9 6 0 .9 2 ,0 0 1 .3 9 .3 2 ,0 4 6 .1 2 ,0 7 0 .4 M 3 6 *0 7 .3 7 .3 6 .7 7.5 7 .2 7.5 7 .0 4*8 2-63 6*6 6 .1 6*2 7 .8 8*6 6*6 9.2 9 .5 9*6 14*5 3-63 6*5 6 .0 6*1 7 .8 8 .5 6*5 8 .9 9 .0 8*9 11*0 7 .6 4 -6 3 6*6 6 .2 8 .2 8*0 8*6 6*6 9*0 9 .0 9 .0 10 .4 6 .4 2 ,1 4 1 .6 2 ,1 8 1 * 4 2 ,2 3 0 * 2 9 .3 2 ,2 7 6 * 5 1 -6 4 6*6 6 .2 6*3 8 .0 8 .6 8*6 8 .9 9 .0 8 .9 10 .0 8 .5 8 .9 6 .6 2 -6 4 6 .7 8 .3 8 .4 8 .2 8 .7 8 .6 9 .1 9 .2 9 .1 10*0 8 .9 9 .4 9 .4 10*2 3 -6 4 6*5 8*1 6 .2 7 .9 8 .4 8 .4 8*6 8*6 8*5 9*2 8 .1 8 .3 7*9 7 .6 4 -6 4 6*3 8 .0 6 .0 7 .8 8 .2 8 .2 8 .4 8 .3 8 .2 8*7 7 .8 7 .8 7*5 7 .1 5 .5 6 .1 1 -6 5 6 .3 8 .0 8 .1 7*9 8 .2 8*2 8 .4 8*4 6 .3 8*7 7 .9 7 .9 7*7 7 .5 6*6 7 .3 6 .6 2 -6 5 6 .3 8*0 6*0 7 .9 8 .2 8 .2 8 .3 8*3 8*2 8*6 7 .9 7 .9 7*7 7 .5 6 .9 7 .5 8 .2 7 .8 3 -6 5 6 .2 7 .9 6 .0 7 .8 8*1 8 .1 8 .2 8 .2 8 .1 8*5 7 .8 7*8 7*6 7 .5 6 .9 7 .4 7 .9 7 .5 2 ,3 3 2 * 7 2 ,3 6 1 * 4 5 .0 2 ,3 9 6 * 5 2 ,4 4 6 .5 2 ,4 9 3 .0 7 .2 2 ,5 3 6 * 5 P 4 -6 0 1 -8 1 2 -6 1 3-81 4-61 1-82 2-82 3-62 4 -6 * 1-63 2-63 3—63 4-63 1-64 2-64 3-84 4 -8 4 I —05 2-65 IS r T lA t ô ô À H T E * P - PRELIMINARY PERSONAL CONSUMPTION EXPENDITURES IN 1972 DOLLARS ___________COMPOUNDED ANNUAL RATES OF CHANCE___________ B IL L IO N S OF DOLLARS ANNUAL RATES IN I T I A L QUARTER TERMINAL QUARTER 4 -6 0 1 -6 1 2 -6 1 3 -8 1 4 -6 1 1 -6 2 2 -8 2 3 -6 2 4 -6 2 1-6 3 2 -8 3 3 -8 3 4 -6 3 1 -6 4 2 -8 4 3 -6 4 4 -8 4 1 -8 5 950*2 1 -f l 4*4 2 -6 1 1*9 -0 * 5 3 -6 1 2 .2 1 .2 2 .6 4 -8 1 0 *7 -0 .5 -0 .5 -3 .7 1 -6 2 1*2 0*4 0 .6 —0*4 2 .9 2 -6 2 1*3 0 .7 1 .0 0*4 2*6 949*1 955*7 946*8 953*7 958*9 2 .2 964*2 3 -6 2 1*5 1*9 1*3 0 .9 2*5 2 .2 2 .2 4 -6 2 1*9 1*6 1 .9 1*7 3 .1 3 .2 3 .7 5 .1 2 .0 1*9 3 .0 3 .0 3*3 3 .8 2*6 9 7 6 .3 982*5 1 -6 3 2*0 1*7 2 -6 3 2*6 2 .6 3*0 3*0 4 .1 4 .4 4*9 5*8 6 .2 10.0 3 -6 3 2*9 2 .7 3 .1 3*1 4 .1 4 .3 4*7 5 .3 5*4 6*9 3 .8 4 -6 3 3 .2 3 .1 3*4 3 .5 4*4 4*6 5 .0 5 .6 5*7 4 .8 5 .3 1 ,0 0 6 * 2 1 ,0 1 5 .6 6 .8 1 ,0 3 2 * 4 1,0 4 4 * 1 1 -6 4 3*3 3 .2 3*5 3*6 4*4 4 5 .0 5 .5 5 .5 6*3 5*1 5 .7 4*6 2 -6 4 3*6 3 ,5 3*9 4 .0 4*8 5 .0 5 .3 5 .8 5 .9 6*4 5*8 6 .4 6*3 7 .9 3 -6 4 3*4 3*3 3*6 3*7 4 .4 4 .5 4 .8 5 .1 5 .1 5*6 4 .7 5*0 4 .3 4*2 1 ,0 6 4 * 2 0*6 1 ,0 6 5 * 9 4 -6 4 3*4 3*4 3*6 3*7 4*3 4 .5 4*7 5 .0 5 .0 5*3 4 .5 4 .7 4*2 4*0 2*1 3 .6 1 -6 5 3*5 3*5 3*7 3 .8 4*6 4 .5 4 .7 5 .0 5*0 5*3 4 .6 4*8 4*4 4*3 3 .1 4 .4 5 .2 2 -6 5 3*6 3 .6 3*8 3 .9 4*4 4*6 4 .7 5 .0 5 .0 5*2 4 .7 4*8 4*5 4*4 3 .6 4 .6 5*0 4*9 4*5 4 .5 3*6 4*6 5 .0 4*9 4 -6 3 1 -6 4 2—64 3 -6 4 4 -6 4 3 -6 5 2 -6 5 3*7 3*6 3*9 3 .9 4*5 4 .6 4—SO 1-61 2 -6 1 3 -6 1 4 -6 1 1 -6 * 4 .6 5 .0 5 .0 5*2 4 .7 4*6 4-62 1-63 2-63 3 -6 3 1 ,0 7 5 * 4 1 ,0 6 9 * 1 1 -» 1 ,1 0 2 .1 4 .6 1 ,1 1 5 .2 P 2 -6 5 IN I TIM. QUARTER P - PRELIMINARY MtEPAftBF W FCOEftAL JtFSSIT? SANK O f ST. LOUIS OCTOBER 1 7 , 1965 15 GROSS PRIVATE DONESTIC DIVESTMENT IN CURRENT DOLLARS 4 -8 0 1 -6 1 2 -6 1 3 -6 1 4 -6 1 1 -6 2 2 -6 2 3 -8 2 4 -6 2 1 -6 3 2 -6 3 3 -6 3 4 -6 3 1 -6 4 2 -6 4 3 -6 4 67*1 36*6 1 1 .6 3 -6 1 31*6 1 6 .8 4 -6 1 1 7 .0 3 .9 1 -6 2 4*7 -6 .8 2 -6 2 3*1 —6 . 4 - 1 0 . 4 - 1 9 . 2 -1 9 .9 -4 .5 0 .6 -7 * 6 -1 1 * 0 - 1 7 . 6 -1 7 . 8 -9 .1 1 -8 5 2 -6 5 4 6 1 .1 5 0 5 .8 2 2 .2 4 8 1 .7 0 .2 - 1 7 . 7 -1 2 * 2 - 2 5 . 6 - 3 2 .8 4-6 2 -4 * 4 - 1 1 . 7 - 1 5 . 1 1-63 -0 .7 -7 .0 -9 .4 2 -6 3 3 .6 -1 .8 -3 .3 -2 1 .1 4 3 1 .2 4 1 5 .9 -1 3 * 5 - 2 1 . 9 -1 7 . 9 -2 3 * 9 -3 3 .1 - 1 3 . 8 -1 3 * 0 —6 .5 4 3 6 .2 -4 * 5 3 7 6 .2 -7 .2 -6 * 0 -5 .2 3 4 .3 2 .5 4*3 1 0 .9 4 2 .8 4 0 5 .0 5 1 .9 4 4 9 .6 4 9 1 .9 3 -6 3 6 .7 2 .0 1 .0 -1 .4 1*2 8 .3 11*1 1 8 .3 4 3 .0 4 7 .5 4 3 .3 4 -6 3 9 .5 5 .3 4 .7 3 .0 5 .9 1 3 .0 16*2 2 3 .2 4 3 .5 4 6 .8 4 4 .3 4 5 .2 1—6 4 1 3 .6 1 0 .0 9 .9 8 .7 12*2 1 9 .6 23*5 3 1 .0 49*9 5 4 .0 5 4 .7 6 0 .8 76*1 4 0 .6 41*9 39*5 3 8 .2 34*8 2*1 5 4 0 .0 6 2 3 .8 6 2 7 .0 2 -6 4 12*6 9 .4 9 .2 8 .1 11*1 17 .5 20*6 2 6 .4 3 -6 4 1 3 .5 10*4 1 0 .4 9 .4 12*3 16*2 21*1 2 6 .2 3 8 .2 38*9 3 6 .4 34*7 31*4 1 2 .9 4 -6 4 11 *6 8*6 8*4 7 .4 9*8 14*8 17*0 2 0 .9 3 0 .2 2 9 .6 2 6 .3 2 3 .1 18*1 3*0 3 .5 - 1 4 . 3 8 .2 7 .3 9*5 14*0 15*9 1 9 .3 2 7 .2 2 6 .4 2 3 .1 2 0 .0 15*5 3*7 4 .2 -4 .8 1 -6 5 4 -6 4 4 6 8 .1 i-« l 2 -6 1 3 -6 2 B ILL IO N S OF DOLLARS ANNUAL RATES I N I T I A L QUARTER TERMINAL QUARTER 8*4 11*2 2 4 .9 6 6 2 .8 6 3 7 .8 5 .6 6 4 6 .8 2 -6 5 1 0 .4 7*8 7 .5 6 .6 6*6 12*7 14*3 17 .2 2 3 .9 2 2 .6 1 9 .6 16*6 12*4 2*5 2 .6 -3 .9 1 .7 -2 .2 3 -6 5 9 .1 6*6 6 .3 5 .3 7 .1 10*7 1 2 .0 1 4 .4 2 0 .1 18 .6 1 5 .6 12*5 8*5 -0 * 1 -0 .5 -6 .0 -3 .1 -7 .3 -1 2 .1 4 -6 0 1-61 2-61 3 -8 1 4 -8 1 1-8 2 2-62 3-62 4-62 1-63 2-63 3-63 4 -6 3 1-64 2 -6 4 3-64 4-64 1 -6 5 2 -6 5 6 4 3 .2 6 2 2 .8P INITIAL QUARTER P - PRELIMINARY GROSS PRIVATE 00*6S T IC INVESTMENT IN 1972 DOLLARS B IL L IO N S OF DOLLARS ANNUAL RATES I N I T I A L QUARTER TERMINAL QUARTER 4 -8 0 1 -6 1 40*2 2 -6 1 22*9 1 -6 1 2 -6 1 3 -8 1 4 -6 1 1 -8 2 2 -6 2 3 -6 2 4 -6 2 2 -6 3 1-6 3 3 -6 3 4 -8 3 1 -6 4 2 -0 4 3 -6 4 4 -6 4 1 -6 5 2 -6 5 2 2 6 .5 2 3 2 .8 7 .7 2 3 6 .5 3 -6 1 1 6 .5 8 .9 1 0 .2 4 -6 1 6*5 -2 .6 -7 .7 -2 2 * 6 1 -6 2 -2 .0 -1 0 .4 -1 5 .8 -2 6 .3 2 -6 2 -3 .1 - 1 0 . 0 - 1 3 . 9 -2 0 * 7 - 1 9 . 7 -1 3 .5 2 2 3 .7 2 0 4 .7 -2 9 .9 -1 6 * 5 -1 7 . 1 -6 .1 2 0 0 .4 - 9 . 9 -1 1 * 6 1 9 4 .3 3 -6 2 -4 * 3 - 1 0 . 2 4 -6 2 -6 * 0 - 1 3 . 4 - 1 6 . 4 -2 0 * 9 - 2 0 . 5 -1 7 .1 -2 1 * 3 - 2 9 . 9 -6 * 5 - 1 0 . 6 - 1 3 . 7 - 1 1 . 8 1 -6 3 -6 .5 1 7 7 .8 -6 * 0 -3 .1 3 4 .0 1 9 1 .3 2 1 2 .6 2 -6 3 0*5 -3 * 2 -4 * 4 -6 .4 -3 .3 3 .1 6*1 1 2 .8 4 3 .0 5 2 .5 3 -6 3 3*5 0*4 -0 .4 -1 .7 1 .8 8 .3 11*9 1 6 .7 4 1 .4 4 5 .3 3 8 .4 3 7 .0 4 -6 3 5*9 1 -6 4 9 .9 7 .7 7 .7 7 .5 2 -6 4 9 .0 6 .9 6*6 6 .5 3 .2 2 .8 2*0 2 3 0 .6 2 4 9 .5 1 2 .0 15*7 2 2 .1 4 0 .3 4 2 .5 3 7 .7 1 1 .5 1 8 .1 22*4 29*2 4 6 .1 4 9 .2 4 6 .2 5 3 .3 7 1 .5 1 0 .0 15*6 19*0 2 4 .2 3 6 .6 3 7 .1 3 3 .5 3 1 .9 2 9 .5 -2 .2 19*7 24*3 3 4 .9 3 5 .0 3 1 .8 3 0 .2 2 8 .0 1 0 .6 16*2 2 .1 4 .3 - 1 3 . 0 5 .6 2 8 5 .5 2 8 3 .9 3 0 0 .2 2 5 .0 3 -6 4 1 0 .0 8 .1 6*1 6 .0 1 1 .3 16*6 4 -6 4 6 .4 6 .6 6*5 6 .2 9 .0 13*5 15*9 19*5 2 7 .7 2 6 .6 2 3 .0 2 0 .1 1 -6 5 6*1 6 .3 6 .2 6 .0 6 .6 12*6 14*7 1 7 .7 2 4 .7 2 3 .6 1 9 .9 1 7 .1 1 3 .4 2 .3 3 .9 -5 .3 3 .1 2 -6 5 7 .4 5 .7 5*6 5 .3 7 .6 1 1 .3 13*0 1 5 .6 2 1 .5 2 0 .2 1 6 .7 1 3 .9 1 0 .4 1 .1 2 .0 -4 .7 -0 .3 -3 .5 3 -6 5 6 .1 4 .5 4*3 3 .9 6 .0 9 .2 1 0 .4 1 2 .7 1 7 .7 1 6 .1 1 2 .7 9 .6 6 .4 -1 .7 — 1 *6 -7 .4 -5 .4 -9 .4 -1 4 .8 4 -8 0 1 -6 1 2 -6 1 3 -6 1 4—61 1-6 2 2 -6 2 M 2 4 -6 2 1 -6 3 2 -6 3 3 -6 3 4 -6 3 1 -6 4 2 -6 4 3 -6 4 4 -6 4 1 -6 5 2 -6 5 in it ia l c k m a te* P - PRELIMINARY OCTOBER 17» 1965 16 2 6 9 .9 2 9 2 .1 289*5 2 7 8 . IP GOVERNMENT PURCHASES OF GOODS ANO SERVICES IN CURRENT DOLLARS ____________ COMPOUNDED ANNUAL RATES OF CHANGE_____________________ TERMINAL QUARTER in it ia l * -8 0 . .. 1 -8 1 2 -8 1 3 -6 1 4 -6 1 1 -8 2 2 -8 2 3 -6 2 * -8 2 BILLIONS ~W q u a r ter 1-63 2 -6 3 3 -6 3 * -6 3 1 -6 4 2 -6 * 3—6 * 4 -6 4 1 -6 5 DOLLARS ■ n m m . ftA T tr 2 -8 5 5 7 6 .6 i-n 13 .2 z -n 9 .6 4 .2 5 8 5 .3 3—61 1 0 .2 8 .6 u .* 6 0 1 .3 4 -6 1 u .* 1 0 .6 13 .2 1 5 .0 1 -6 2 1 0 .2 9 .4 _ 1 0 .5 1 0 .1 5 .* 2 -6 2 8 .7 7 .2 3 .6 7 .8 8 .3 6 2 2 .7 6 3 0 .9 1 .6 6 3 3 .7 6 5 6 .3 3 -f 2 9 .6 9 .0 9 .6 9 .1 7 .3 8 .2 1 5 .0 * -6 2 1 0 .* 1 0 .0 1 0 .6 1 0 .5 9 .4 1 0 .7 1 5 .5 1 5 .9 1 -6 3 9 .0 8 .5 8 .6 8 .* 7 .1 7 .6 9 .6 7 .0 2 -6 3 8 .3 7 .8 6 .0 7 .5 6 .3 6 .5 7 .7 6 8 1 .0 6 7 8 .8 -1 .3 6 8 2 .2 2 .0 6 8 9 .8 3 -6 3 7 .9 7 .* 7 .6 7 .1 6 .0 6 .1 7 .0 5 .1 1 .7 3 .3 * .5 * -6 3 7 .3 6 .8 6 .9 6 .* 5 .* 5 .* 6 .0 * .3 1 .5 2 .5 2 .7 0 .9 5 .6 5 .7 6 .2 * .8 3 .8 * .* 4 .3 1 -6 * 7 .* 6 .9 7 .0 6 .5 6 9 1 .4 7 0 4 .4 7 .7 7 4 3 .7 7 .6 9*0 1 0 .6 1 5 .7 2 * .3 6 .6 7 .9 9 .1 1 0 .3 1 3 .6 1 6 .7 9 .6 7 .1 8 .3 9 .4 1 0 .* 1 2 .9 i* .7 1 0 .1 1 0 .7 6 .9 8 .0 8 .9 9 .6 11.5 1 2 .* 8 .7 6 .3 8 .2 9 .0 9 .7 11.2 1 1 .9 9 .0 8 .8 7 .9 9 .9 6 .8 8 .2 9 .2 1 0 .0 1 0 .7 12 .2 1 3 .0 1 0 .9 1 1 .2 1 1 .3 1 4 .1 1 8 .4 * -6 2 4 -6 2 l-* 3 2 -6 3 3—83 4—83 1 -8 4 2 -8 4 3 -6 4 4 -6 4 1 -8 5 2 -8 5 2 -6 * 8 .5 8 .1 8 .3 8 .0 7 .4 7 .6 8 .3 7 .* 3 -8 * 8 .6 8 .3 8 .* 8 .2 7 .6 7 .8 8 .5 7 .7 * -8 * 8 .7 8 .* 8 .6 6 .* 7 .8 8 .0 8 .7 1 -8 5 8 .5 8 .3 8 .* 6 .2 7 .7 7 .9 8 .* 7 .8 2 -8 5 8 .6 8 .* 6 .5 8 .3 7 .8 6 .0 8 .6 8 .0 3 -8 5 9 .1 8 .9 9 .1 8 .9 8 .5 8 .7 9 .3 4 -8 0 1-8 1 2—61 3 -8 1 *—81 1 -8 2 2 -8 2 7 6 1 .0 7 8 0 .5 7 9 1 .9 6 .0 8 1 0 .9 8 4 5 .9 P INITIAL OUAATEft PRELIMINARY GOVERNMENT PURCHASES OF GOODS AND SERVICES IN 1972 DOLLARS TERMINAL QUARTER 4 -8 0 1 -6 1 B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 1 -6 1 2 -6 1 3 -6 1 4 -6 1 1-8 2 2 -8 2 3 -8 2 4 -6 2 1-83 2 -8 3 3 -8 3 4 -8 3 1 -8 4 2 -8 4 3 -« 4 4 -6 4 1 -8 5 2 -6 5 2 8 6 .0 5 .0 2 8 5 .1 2 -6 1 1 .8 -1 .3 3 -6 1 2*3 1 .0 3 .3 4 -8 1 2 .5 1 .7 3 .2 2 8 7 .4 2 8 9 .6 3 .1 2 9 0 .2 1 -8 2 2 .2 1 .5 2 .4 2 .0 0 .8 2 -6 2 1+1 0*3 0 .7 -0 .2 -1 .8 -4 .3 3 -8 2 2 .1 1 .6 2 .2 1 .9 1 .5 1 .8 8 .3 4 -8 2 3 .2 2 .9 3 .6 3 .7 3 .8 4 .8 9 .7 1 1 .1 l-« 3 1 .8 1 .4 1 .8 1 .6 1 .3 1*4 3 .4 1 .0 2 -6 3 1 .4 1 .0 1 .3 1 .0 0 .6 0 .6 1 .9 3 -6 3 1 .2 0 .8 1 .1 0 .8 0 .5 0 .4 1 .4 4 -6 3 0*7 0 .4 0 .5 0 .2 -0 * 1 -0 * 3 0 .4 1 -6 4 0 .6 0 .4 0 .6 0 .3 0 .0 -0.1 0 .5 2 8 7 .0 2 9 2 .8 3 0 0 .6 -8 .1 2 9 4 .3 -0 .2 -5 .4 —2 .6 2 9 2 .4 -0 .3 -3 .8 -1 .6 -0 ,5 -1 .1 -3 .9 -2 .5 -2 .4 -4 .3 -0 .8 -3 .0 -1 .6 -1 .3 -1 .7 2 9 2 .0 2 8 6 .8 2 8 9 .5 1 .0 2 -6 4 1 .9 1*7 1 .9 1 .6 1*7 1*8 2 .6 1 .8 0 .3 2 .1 3 .3 4 .6 9 .4 1 8 .6 3 -6 4 2 .2 2*0 2 .2 2*1 2 .Q 2 .2 2 .9 2 .2 1 .0 2 .7 3 .7 4 .8 6 .1 1 1 .6 5 .4 4 -6 4 2 .4 2 .2 2 .5 2 .4 2*3 2 .5 3 .2 2 .6 1 .6 3 .1 4 .1 5 .0 7 .5 9 .8 5 .6 1 -6 5 2 .3 2 .1 2 .3 2 .3 2*2 2*3 2*9 2 .4 1 .5 2 .7 3 .5 4 .2 6 .0 7 .3 3 .8 o « 0 .3 2 -6 5 2 .3 2*2 2 .4 2 .3 2 .3 2 .4 3 .0 2 .5 1 .7 2 .6 3 .5 4 .1 5 .6 6 .6 3 .8 3 .2 1 .9 3 .7 3 .9 3 .6 2 .9 4 .1 4 .9 5 .6 7 .1 8 .1 6 .2 6 .3 6 .5 9 .8 1 6 .2 2 -8 2 3 -6 2 4 -6 2 1-6 3 2 -6 3 3 -6 3 4 -6 3 1 -8 4 2 -6 4 3— 64 4 -8 4 1 -6 5 2 -8 5 3 -ft5 3*0 2*9 3*2 3*2 3*1 3 .3 4 -8 0 1 -8 1 2 -6 1 3 -6 1 4 -6 1 1 -8 2 3 0 2 .1 3 0 6 .1 5 .9 IN IT IA L Q U A R T « P - PRELIMINARY OCTOBER 17» 1905 17 3 1 0 .5 3 1 0 .7 3 1 3 .5 3 2 5 .5P DISPOSABLE PERSONAL INCOME IN CURRENT DOLLARS ______ COMPOUNDED ANNUAL RATES OF CHANCE_________ TERMINAL Q U AR T« 4 -8 0 1 -8 1 1—81 1 4 .2 2 -8 1 1 0 .5 7 .0 3 -8 1 1 2 .1 u .o 4 -8 1 . 1-82 2 -8 2 B ILL IO N S OF DOLLARS ANNUAL RATES I N I T I A L QUARTER L Q tt 2 -8 1 3“ 8 1 ... 4 - 8 L 1-82 M 2 .4 -8 2 1-8 3 2-43 3 -8 3 4 -8 3 .1.-64 _?~44. 3 -8 4 4—8 4 1 -8 5 2 -8 5 1*972 .5 2 * 0 0 6 .0 1 5 .3 2* 0 7 8 .6 2* 1 0 9 .8 6 tl . 9 ,4 5.t3_ 8*1 8*5 5*2 4 .3 8 .5 7 .* 7 .5 5 .0 4 .5 4 .7 7 .4 T il? 5t6 _ ? f5 6.1 7 f4 7 .8 3 -8 2 <ul .. 6*7 6.1 6 .5 6 .1 4.3 6 .0 6 .4 6 .8 6 .6 5 .9 7 .5 6 .8 7 .2 7 .7 7 .8 7 .8 9 .6 7 .3 7 .7 8 .2 8 .4 8 .5 10 .0 1 1 .2 1 0 .7 7 .9 8 .3 8 .9 9 .1 9 .4 1 0 .6 1 1 .7 1 1 .7 1 2 .7 8 .4 8 .8 9 .0 9 .2 10.2 1 0 .9 1 0 .7 1 0 .6 8 .6 9 .1 9 .9 1 0 .4 1 0 .1 9 .9 8 .5 8 .4 7*5 7i _6 7 .8 7 .1 7 .1 .2 -0 3 _J Z . f i - 7»JL_ 7*1 3 -8 3 8 .2 7 .6 7 .6 4 -8 3 8 .4 7 .9 7 .9 7 .2 1 -8 4 8 .7 8 .3 8.4 7 .7 2 -8 4 8 .7 8 .3 8 .4 7 .8 7 .9 6 .7 2* 1 9 5 .8 5 .7 4*3... 1 -8 3 5 .8 2 * 1 5 6 .8 7 .6 4 -8 2 J> tL _. 2 * 1 3 2 .0 2 ,2 3 7 .5 2 * 2 6 1 .4 2 ,3 0 2 .9 1 1 .7 2 ,3 6 7 .4 2 ,4 2 8 .6 2 ,5 0 2 .2 2 ,5 5 4 .3 3 -8 4 8 .7 8 .3 8 .4 7 .8 8 .0 8 .4 8 .8 8 .9 4 -8 4 8 .5 8 .1 8 .2 7 .7 7 .8 8 .1 8 .5 8 .6 8 .7 9 .4 9 .7 9 .3 8 .9 7 .7 7 .2 6 .0 1 -8 5 8 .1 7 .7 7 .8 7 .2 7 .3 7 .6 7 .8 7 .9 7 .9 8 .3 8 .5 7 .9 7 .4 6* 1 5 .3 3 .7 1 .6 2 -8 5 8 .3 7 .9 8 .0 7 .5 7 .6 7 .9 8 .1 8 .2 8 .2 8 .7 8 .8 8 .4 8 .0 7 .1 6 .7 6 .2 6 .3 1 1 .2 3 -8 5 7 .7 7 .3 7 .4 6 .9 6 .9 7 .1 7 .3 7 .3 7 .3 7 .5 7 .5 7 .0 6 .5 5.5 4 .9 4 .1 3 .4 4 .4 -2 .0 4 -8 0 1 -8 1 2 -8 1 3 -8 1 4 -8 1 1-8 2 2 -8 2 3 -8 2 4 -8 2 1-8 3 2 -8 3 3 -8 3 4 -8 3 1 -8 4 ¿ -8 4 3 -8 4 4 -8 4 1 -8 5 ¿—65 2 ,6 0 6 .4 2 ,6 4 4 .5 2 ,6 5 4 .8 2 ,7 2 6 .5 2 ,7 1 2 .6 P I N I T I A L QUARTER P - PRELIMINARY DISPOSABLE PERSONAL INCOME IN 1972 DOLLARS COMPOUNDED ANNUAL RATES Of CHANCE ----------------------------- ----------------------------------------------------------------------------------------------------------------------------------------- B ILL IO N S OF --------------------------------------------------------------------------------------------------------------------------TERMINAL__________________________________________________________________ I N IT IA L QUARTER_______________________________________________________________ DOLLARS ANNUAL RATES QUARTER 1 -8 4 2 -8 5 2 -8 4 3 -8 4 4 -8 4 1 -8 5 3 -8 3 4 -8 3 1 -8 3 2 -8 3 3 -8 2 4 -8 2 4 -8 1 2 -8 2 4 -8 0 1 -8 1 2 -8 1 3 -8 1 1-8 2 1 ,0 4 2 .5 1 -8 1 5 .1 2 -8 1 2 .2 -0 .7 3 .0 6 .9 1 ,0 4 0 .7 1 ,0 5 8 .1 3 -8 1 3 .7 4 -8 1 2 .6 1 .7 3 .0 -0 .8 1 -8 2 1 .8 l.o 1 .6 -1 .0 2 -8 2 1 .6 0 .9 1 .4 3 -8 2 1 .6 1 .0 4 -8 2 1 .8 1 ,0 5 6 .0 -1 .2 1 ,0 5 2 .8 —0 *4 -0 .2 0 .8 1 ,0 5 4 .8 1 .3 0 .0 0 .2 1 .0 1 .2 1 .4 1 .7 0 .7 1 .1 1 .9 2 .4 3 .7 1 -8 3 1 .9 1 .5 1 .8 0 .9 1 .3 1 .9 2 .3 2 .9 2 .1 2 -8 3 2 .0 1 .7 2 .0 1 .3 1 .6 2 .2 2 .6 3 .0 2 .7 1 ,0 5 7 .9 1 ,0 6 7 .6 1 ,0 7 3 .1 1 ,0 8 2 .0 3 .4 1 ,1 0 2 .2 3 -8 3 2 .5 2 .3 2 .6 2 .1 2 .5 3 .1 3 .6 4 .2 4 .3 5 .5 7 .7 4 -8 3 3 .0 2 .8 3 .1 2 .7 3 .2 3 .8 4 .3 5 .0 5 .3 6 .4 8 .0 8 .3 1 -8 4 3 .4 3 .3 3 .6 3 .3 3 .8 4 .4 4 .9 5 .6 6 .0 6 .9 8 .2 8 .4 8 .6 2 -8 4 3 .6 3 .5 3 .8 3 .6 4 .0 4 .6 5 .1 5 .7 6 .0 6 .8 7 .7 7 .7 7 .4 6 .3 3 -8 4 3 .6 3 .5 3 .8 3 .6 4 .0 4 .5 5 .0 5 .5 5 .7 6 .3 6 .9 6 .7 6 .2 5 .1 3 .9 4 -8 4 3 .6 3 .5 3 .8 3 .6 4 .0 4 .4 4 .8 5 .2 5 .4 5 .9 6 .4 6 .1 5 .6 4 .6 3 .7 3 .5 1 ,1 2 4 .3 1 ,1 4 7 .6 1 ,1 6 5 .3 1 ,1 7 6 .5 1 ,1 8 6 .7 1 ,1 8 1 .9 1 -8 5 3 .3 3 .2 3 .5 3 .2 3 .5 3 .9 4 .2 4 .5 4 .4 4 .9 5 .2 4 .8 4 .1 3 .0 1 .9 0 .9 -1 .6 2 -8 5 3 .6 3 .5 3 .7 3 .5 3 .9 4 .3 4 .5 4 .9 5 .0 5 .3 5 .5 5 .2 4 .7 4 .0 3 .4 3 .3 3 .2 8 .2 3 .6 3 .9 4 .1 4 .1 4 .3 4 .4 3 .4 2 .6 1 .9 1 .4 0 .7 1 .8 -4 .1 l - * 2 _ 2-42 M2 4-42 1 -« 2 -W M 4 4 -«4 1 -« 2 -« 3 .1 3 .0 3 .3 3 .0 3 .3 -------------- *-8Ó t-8 i M i 3-41 4-41 3 -8 5 4 .0 « 3 F U 1 ,2 0 5 .3 1 ,1 9 2 .6P INITIAL QUARTER P - PRO. I MINA A y ~ PtEEAHEO BVTEP E m RESERVE ftAf* OP ST* LOUIS OCTOBER 1 7 , 1985 18 C O «POMATE PROFITS A FTE* TAXES* COMfOOWOeO AMMUAL RATES Of CHANCE TERMINAL Q U AR T« B IL L IO N S OF DOLLARS ANNUAL RATES IN IT IA L QUARTER 3 -8 0 4^9 0 -0 .5 i-e i 4 .5 4 -9 0 1-91 2 -9 1 3 -8 1 4 -9 1 1-9 2 2 -9 2 3 -9 2 1 -9 3 4-62 2 -8 3 3 -9 3 4 -9 3 1 -9 4 2 -8 4 3 -9 4 4 -9 4 1 -9 5 146 + 7 150+2 9 .9 135+4 - 1 0 . 3 - 1 4 . 9 -3 4 + 0 3—91 4~9* -5 .t k -4 .6 -1 3 + 9 1 2 .4 -4 + 5 - 9 . 0 -1 3 .3 -0 .6 1 3 9 .4 135+0 -1 2 .0 1 -9 2 - 2 0 . 2 -2 3 + 6 - 3 0 . 3 - 2 9 . 0 -4 3 + 6 - 6 3 . 9 2 -e z -i* t -2 3 + 9 -21+0 -2 9 + 8 -3 7 + 3 104 + 7 106+9 9 +7 107+0 3 -9 2 - 1 4 . 7 -1 6 + 5 -2 0 .2 -1 7 + 2 -2 3 + 2 —2 6 .7 4 .4 4 -8 2 -1 5 .4 -17+1 —20.4 -1 7 + 9 -2 2 +8 -2 5 +3 -4 .9 1—« 3 -1 3 * 4 -1 4 + 7 -1 7 * 4 -1 4 + 7 -1 9 + 5 -1 9 . 7 -2 .0 -5 .3 -9 +1 0 .4 1 0 0 .8 -1 1 + 1 -2 1 +2 1 0 2 .6 7+3 1 2 3 .4 2 -8 3 -6 .1 - 6 +7 -8 .4 - 4 +5 -6 + 7 -5 + 9 1 4 .0 15+4 20+9 4 9 .9 1 0 9 .3 3 -9 3 -l+ o -l+ o -2 .1 2+3 1 +1 3+2 22+9 25+9 33+3 58.9 93 +2 7 8 .3 4 -8 3 -1 .2 -1 + 3 -2 .2 1 +7 0+5 2+2 19+6 20+3 24+9 4 0 .0 52 +9 3 0 .7 -4 .1 1 4 2 .6 141 + 1 150+6 1 -8 4 0+7 0+9 0+1 3+9 3+1 5+0 19+9 2 1 .6 25+6 37 .9 46 +8 3 0 .4 11 .5 29+9 2 -8 4 0+6 0 +7 0+0 3+5 2+9 4+4 17+4 19+5 21+4 30+5 35 +6 21+7 7+2 13 +3 3 -9 4 -0 .9 -0 + 9 -1 + 7 1 .4 0+5 1+9 12+9 13 +3 15+1 21.5 2 4 .0 1 1 .7 -0 .6 4 -9 4 -l + Q -1 + 0 -1 + 7 1 +2 0+4 1 +5 11+4 11 +7 13+0 18.3 1 9 .9 9+3 -0 .9 1 -8 5 -1 .5 -1 .6 -2 + 3 0+3 -0 + 5 0 .5 9 .4 9+4 1 0 .4 14.6 1 5 .6 6 .2 —2 .6 -2 + 3 - 9 +0 -1 1 + 5 -6 + 5 - 1 0 . 9 2 -9 5 -1 .4 - 1 +4 -2 + 1 0+4 -0 .4 0+5 9 .7 9 .7 9 .5 13.2 1 3 .9 5 .5 -2 + 1 -1 + 9 -7 .1 -9 + 5 -4 + 0 -5 .0 1 .2 3 -9 0 4 -9 0 1-91 3 -9 1 4 -9 1 1 -9 2 2 -8 Ì 3 -8 2 4-9 2 1 -9 3 2—93 3—93 4—63 1 -9 4 2 -6 4 3 -9 4 4 —6 4 1 -9 5 - 1 +1 1 5 0 .2 0+6 -1 1 +5 - 2 0 . 8 1 4 1 .7 -0 + 1 —9+4 - 1 1 . 9 141 +0 -2 + 0 1 3 7 .0 1 3 7 .4 H*A. 3-85 2-a i In it ia l q u a rte * * NATIONAL INCONE BASIS H.A. - oot available WEPiKlÖ ir REMUAI AfifAVE k/MH ÛF~ÎT.~L«JTC OCTOBER I T , 1W 5 HISTORICAL SOURCES OF NATIONAL INCOME AND PRODUCT ACCOUNTS DATA The NIPA estimates for 1929-76 are in The National Income and Product Accounts of the United States, 1929-76: S ta tis tic a l Tables (Stock number 003-010-00101-1, price $10.00). Estimates fo r 197^-79 and corrections for e a rlie r years are in the July 1982 SURVEY; estimates for 1980 and corrections for e a r lie r years are in the July 1983 SURVEY; estimates for 1981-83 are in the July 1984 SURVEY. Estimates for the periods since, appear in subsequent issues of the monthly Survey of Current Business. These publications are available from the Superintendent of Documents, U.S. Government Printing O ffice , Washington, D.C. 20402. 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 I N V E N T O R I E S COMPARED WITH MONTHLY S A L E S * MA NUF A C T UR I NG AND TRADE .6 8 68 . 64 64 .60 60 .56 56 . 52 52 . 48 48 44 40 .40 36 .36 .35 . 32 32 . 28 28 24 . 24 1977 «RATIOS B AS E D ON S E A S O N A L L Y A DJ U ST ED SHADED AREAS R EPRESENT LATEST DATA P L O T T E D t 1978 1979 DATA. 1 1981 SOURCEs 1982 1983 1984 1985 U . S . DEPARTMENT OF COMMERCE 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 . AU6UST P R E L I M I N A R Y PREPARED 20 BY F E D E R A L R E S E R V E BANK OF S T . LOUIS
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