Full text of National Economic Trends : September 1969
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nflnonRL economic PREPARED BY FEDERAL MONTH ENDING: AuSust 31, 1969 RESERVE tr e iid s BANK OF ST. LOUIS RELEASED: September Recent economic data indicate there may have been some moderation in the pace of economic activity over the summer. Growth of production, employment and sales appears to have been less rapid in most recent months. Industrial production has risen at a 5 per cent annual rate since December, compared with a 1957-68 trend rate of 4.6 per cent, but declined in August. Payroll employment grew at a 3.4 per cent annual rate in the last eight months, but increased at a 1.2 per cent rate from June to August. Personal income, buoyed by Federal pay raises, has continued to increase at a fast pace, an 8.6 per cent annual rate since December, only moderately less than the 9.6 per cent rate in the previous year. Despite the rapid advance of income, retail sales data have shown no indication of such strength. These sales were about unchanged from May to August. The apparent inconsistency of retail sales on the one hand, and income and consumer expenditures on the other, suggests that there may be some inadequacies in the sales data. While growth of employment, production, and sales seem to have slowed in recent months, prices have continued to advance. Consumer price increases have quickened to a 6.1 per cent rate since December, up significantly from a 4.7 per cent rise in the previous year. Wholesale prices have been essentially unchanged since June after increasing 4 per cent in the previous year. Wholesale industrial prices, however, have advanced at a 3.3 per cent annual rate since June and at a 3.6 per cent rate since December. , 1969 2 TOTAL C IV IL IA N EMPLOYMENT -------------------------------------------------------------------------------------------------------- COMPOUNDED ANNUAL RAJ ¿S. Of JtHAMffiE___________________ ___ - „ .... ............._ ............. ...... ............... TERMINA]------------------------------------------------------------------------------------------------------------ IN IT IA I. HQN IH _____________________________ ____ _________________ —........................ ........IM B IS â M a . MONTH OF PERSONS I r ^ f lL — f c f t a — i r f t f l ... S -6 a ...6 - 6 8 ____ZsA ft... A zM ,-J2z.6fl... . U h M L 1 2~ 6fl___ L a S L - J h f t S L ^ f l L ^ i d l ■ 75*44 0 7 —68 9 .2 3-6 8 5 .5 2 -0 1 n. l -1-7 5 -6 8 3.4 1.6 1.3 4 . *> 6-68 3.0 1 - *5 1.3 2. R 1 2 7 -6 8 ? -S 1-2 1.0 ?, n n. 7 0. 2 A-fcA 7 .n 0 .9 0 -7 1 n. 2 -0 .3 -n . 7 9-68 1.8 0 .8 0 .6 1, 0 . ,3 - 0 . .0 - o . ,2 0 ..4 10 -6 8 1-6 0 .7 0 .5 Oi 0 .2 - f t . .0 -o .,1 0 .,2 1 1-6 8 2 -1 1.3 1.2 I ,, 7 1 ,,2 1 .,2 i ,,5 ?i , 2 3 i,1 ht , 3 1 2-AA 2 -4 1- A 1 -A 2, ,2 1 ,,9 2 ,,n 2. ,4 3., 2 4,.1 6.. 2 6..1 1-f.Q 2 -9 7 -3 7 .3 ? , .ft 2, .ft ? , .ft 3.,2 4.ifl 4,,9 6.6 hi ifl 7. , 5 7-* 9 3.7 7 .A 7 -A 3, , 3 3,, 2 3,.4 3.,9 4., 7 5 , ,5 7..0 7 , ,2 7 , ifl 3 .1 7.f> 7-A 3,» 1 2,,9 3,, i 3,,*> 4. , 1 4,,7 5., 7 5 , ,5 5. 4«,3 0.>6 4-AQ 7 .7 7 .7 7 -7 ?,i h ? , ■4 2 1, 5 2, ■ft 3,, 2 3..6 4., 3 3.,9 3., 3 2 . .n - | ,.0 —2 - 5 * ;- * o 7 .7 1^7 1-7 2,. n 1 , .A 1 , .ft 2,, 0 2,, i 2, 7 -,9 2 ., 3 1 , .6 0. - 2 . .4 -3 -8 Q 7 -4 7 -0 7 -0 2, , 3 2,. 1 2, , ? 2.,4 2,. 7 2..9 3,. 3 2..9 7. ,4 1 »,4 - 0 , .2 -Q .5 0 .5 6.S 7-AQ 7_«i 7 -1 7- 1 7 ., 3 2,, 2 2, , ^ 2,,4 2,, 7 3,,n 3,, 3 2.,9 7. . 5 I ,, 7 Oi ,4 0 -4 ..... 1 . 4 4. a A—f»q 7 .* 7 .7 7 .7 2. . s 2.. 4 2 ,. 5 2.. 6 7 .q 3, 3.. 5 3,, 2 2 ,. a 2,. 1 1,.2 1.3 2 .3 _ 4- 9 1 —<SS 2 -6 8 3—68 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 4-6 A ___ 7 5 « 7 4 4 _____ 75*653 3 ..... 7 5 . 9 3 2 _____ 76 .0 0 5 7 6 .0 2 0 7 5 .9 7 3 7 6 .0 0 0 7 6 .0 0 2 Oi.0 9 -6 8 IN IT IA L 7 6 .3 8 8 76 .7 6 5 7 7 .2 2 9 8«, 1 __ 7 7 . 7 2 9 _____ 7 7 .7 6 7 77 .4 0 5 -5 .1 7 7 .2 6 5 7 7 ,4 7 1 7 7 »874 4 . 1 ____ 4 . 9 7 8 . J . 8 7 ___ 6 -6 9 7 -6 9 MONTH PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS PAYROLL T mPLOYMENT — COMPOUNDED ANNUAL RATES OF CHANGE IN IT IA L TERMINAL MONTH 2 -6 8 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 ........... 7 -6 9 THOUSANDS OF~FgftSON$ 6 7 « 145 2 -6 8 8 .3 3 -6 8 5 .2 2 .2 4 -6 8 4 .5 2 .7 3 .3 5 -6 8 3 .8 2 .3 2 .4 1 .5 6 -6 8 4 .0 2 .9 3 .2 3 .2 6 7 *2 8 6 6 7 *4 6 4 6 7 ,5 5 0 4 .8 6 7 ,8 1 6 4 7 ,9 4 5 7 -6 8 3 .7 2 .8 3 .0 2 .9 3 .6 _ 2 .3 8 -6 8 3 .5 2 .8 2 .9 2 .8 3 .2 2 .4 2 .6 9 -6 8 3 .3 2 .6 2 .7 2 .6 2 ,9 2 .3 2 .2 1 .9 6 8 ,0 8 8 6 8 « 195 6 8 ,4 2 7 1 0 -6 8 3 .4 2 .8 2 .9 2 .9 3 .1 2 .7 2 .9 3 .0 4 .2 ¡11—68 3 .5 3 .0 3 .1 3 .1 3 .3 3 .0 3 .2 3 .4 4 .2 4 .2 ¡1 2-6 8 3 .5 3 .1 3 .2 3 .1 3 .4 3 .1 3 .3 3 .5 4 .0 4 .0 3 .8 3 .3 3 .4 3 .4 3 .7 3 .5 3 .7 4 .0 4 .5 4 .6 4 .8 1 -6 9 — MONTH 00 <o 1 1 -6 8 SEPTEM B E R 1369 6 8 ,4 4 4 6 8 ,8 7 5 5 .8 6 9 ,1 9 9 6 9 ,4 8 7 i 2 -6 9 3 .8 3 .5 3 .6 3 .6 3 .8 3 .7 3 .9 4 .2 4 .6 4 .7 4 .9 5 .5 5 .1 | 3 -6 9 3 .8 3 .5 3 .6 3 .6 3 ,8 3 .7 3 .9 4 .1 4 .5 4 .6 4 .6 4 .9 4 .5 3 .9 4 -6 9 3 .7 3 .3 3 .4 3 .4 3 .6 3 .5 3 .6 3 .8 4 .0 4 .0 4 .0 4 .0 3 ,5 2 .6 1 ,4 5 -6 9 3 .7 3 .4 3 .5 3 .5 3 .6 3 .5 3 .7 3 .8 4 .0 4 .0 4 .0 4 .0 3 .6 3 .1 2 ,6 3 ,9 6 -6 9 3 .8 3 .5 3 .6 3 .6 3 .8 3 .7 3 .8 3 .9 4 .1 4 .1 4 .1 4 .2 3 ,9 3 .6 3 ,4 4 ,5 5 .0 7 -6 9 3 .5 3 .2 3 .3 3 ,3 3 .4 3 .3 3 .4 3 .5 3 .7 3 .6 3 .5 3 .5 3 .1 2 ,7 2 ,4 2 ,8 2 .2 - 0 .5 8 -6 9 3 .5 3 .2 3 .3 3 .3 3 .4 3 .3 3 .4 3 .4 3 .6 3 .5 3 .5 3 .4 3 .1 2 ,8 2 ,5 2 ,8 2 ,4 1 .2 2 ,9 1 -6 8 2 -6 8 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 IN IT IA L MONTH 6 9 ,7 1 0 6 9 « 789 7 0 ,0 1 3 7 0 « 300 70«269P 7 0 ,4 3 6 P i P - PRELIMINARY _ _ 3.2 PREPARED BY FEDERAL RESERVE BANK OF ST. LOUtS SEPTEMBER 9, 1969 3 Em ploym ent Ratio S ca le Ratio S c a le Source: U.S. D e p a rtm e n t o f L a b o r Percentages are annual rates of change between periods indicated. They are presented to aid in com paring most recent developments with past "tre n d s.” Data for pa yro ll em ploym ent revised from January 1967 through June 1969 Latest data plotted: August p re lim in a ry Prepored by Federal Reserve Bank of St. Louis 4 iwiiui i n a l p * o w m ti* COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL MONTH IN IT IA L 1 -6 8 2 -6 8 2 -6 8 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 9 5 7 - 59 = 100 MONTH 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 6 .1 1 6 2 .0 -3 .6 5 -6 8 5 .7 5 .5 4 .5 1 3 .3 6 -6 8 7 .0 7 .2 7 .1 1 2 .8 1 2 .3 7 -6 8 6 .0 6 .0 5 .6 8 .9 6 .8 8 -6 8 3 .6 3 .2 2 .4 3 .9 1 .0 -4 .3 -9 .7 9 -6 8 3 .7 3 .3 2 .6 3 .9 1 .7 - 1 .7 -3 .2 1 00 1 .9 0 7 .7 3 .3 e* 6 .9 4 -6 8 1 6 3 .0 1 6 2 .5 1 6 4 .2 1 6 5 .8 1 6 6 .0 1 .5 1 6 4 .6 3 .7 1 6 5 .1 1 0 -6 8 4 .0 3 .7 3 .2 4 .4 2 .7 0 .4 0 .0 5 .2 6 .7 1 1 -6 8 4 .7 4 .6 4 .2 5 .3 4 .1 2 .5 2 .7 7 .2 9 .0 1 1 .4 1 2 -6 8 5 .1 5 .0 4 .7 5 .8 4 .7 3 .5 3 .9 7 .7 9 .0 1 0 .2 8 .9 1—6 9 4 .9 4 .8 4 .5 5 .5 4 .5 3 .4 3 .8 6 .7 7 .4 7 .7 5 .9 2 .9 2 -6 9 5 .1 5 .0 4 .8 5 .6 4 .8 3 .9 4 .3 6 .8 7 .4 7 .6 6 .4 5 .1 1 6 6 .0 1 6 7 .5 1 6 8 .7 1 6 9 .1 1 7 0 .1 7 .3 3 -6 9 5 .4 5 .3 5 .2 6 .0 5 .3 4 .5 4 .9 7 .2 7 .8 8 .0 7 .1 6 .6 8 .4 9 .6 4 -6 9 5 .2 5. 1 4 .9 5 .7 5 .0 4 .3 4 .6 6 .5 7 .0 7 .0 6 .1 5 *4 6 *3 5 .8 2 .1 5 -6 9 5 .2 5 .2 5 .0 5 .7 5 .1 4 .4 4 .7 6 .4 6 .8 6 .8 6 .1 5 .5 6 .2 5 .8 3 .9 5 .7 6 -6 9 5 .5 5 .4 5 .3 5 .9 5 .4 4« 8 5 .1 6 .7 7 .1 7 .1 6 .5 6 .1 6 .8 6 .7 5 .7 7 .6 9 .4 7 -6 9 5 .5 5 .4 5 .3 5 .9 5 .4 4 .9 5 .2 6 .6 6 .9 7 .0 6 .4 6 .1 6 .6 6 .5 5 .7 6 .9 7 .5 5 .7 8 -6 9 5 .1 5 .0 4 .8 5 .4 4 .9 4 .4 4 .6 5 .9 6 .1 6 .0 5 .4 5 .0 5 .3 5 .0 4 .1 4 .6 4 .2 1 .7 -2 .0 5 -6 8 1 -6 8 8 -6 8 »#-68 IU - 6 8 1 1 -6 8 1 -6 * Z -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 f —69 I-OB 4 -b B 1 7 1 .4 1 7 1 .7 1 7 2 .5 1 7 3 .8 1 7 4 .6P 1 7 4 . 3P IM I 11 AL MUM 1H P - PRELIMINARY--------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------- y * gPA * fD 8T FCDER At RESERVE BANK P f ST . 1 0 UTS SEPTEMBER 17 1969 5 Ratio Scale Industrial Production Ratio Sea le Percentages are annual rates o f change between periods indicated.They are presented to aid in comparing most recent developm ents w ith past "tre n d s.” Latest data plotted: August prelim inary Prepared by Federal Reserve Bank of St. Louis 6 RETA IL SALES COMPOUNDED.. ANNUAL RATES. OF .CHANGE MONTH 2-68 i~i» a . ! 1 1 > 3 -6 3 4 -6 8 5 -6 8 6-68 8-68 7 -6 8 n un i n ... ------- _ b il l iu k ì 9 -6 8 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 2 7 .4 4 9 ?A. 7 5~6a 2 7 .9 9 ft 7 .7 -3 -4 JL2^.9__ l f K 7 3 -5 ....&=&£L~ .-L.u;i - . 9^a._ .i . ....... ......................... ................................... .............. ........... . ......... . ... . ....................... -...... .................... 9 .,2 6 .,6 9 .,9 8 ,, 1 fl., 5 4,,q 6 ., l fi. ■? fli ,9 4,,3 Ai. A 4 ,, 7 4 , ifl il. ,3 - I ,,3 -A 1,2 6 .. 6 4.,4 6 .,3 ft,,7 4., ? 1 .,4 n ,■6 - ? , ,n 3 3, , Q 1 ,,7 .n 1 ,, ? n,? - ?, 7 -4 ., ? -7 ,,5 7»*? 6 ., 1 4.,3 *><. A 4 .,«i 4., 1 ?,,? l ,,9 n .,9 __x,.6 6 >,7 5 ,n 6 ., 5 5,. 4 5 1, ? Ì ,7 ,, 7 *»„, q 4 .,9 3« 4.,4 ,? ?..8 1., ^ n,,9 7. 0 ft. 4..fi *i,,9 *),.n 4 ..ft 16 1 ,.6 1 ,,2 6 ..4 5..6 4., ? 5,,3 4,,4 4,, 1 .0 ?,,9 ?, . '1 * 4 A ..... ...... a.«A«. .. .....^»69^«¿LdUSU. ..... * , .......................... . ........... ..........- .......................... . _ „ ... .......... 2 8 .9 0 2 4 ., 7 » . 8M - 7 , , 1 - 1 7 , ,5 7 f t . ^ 47 4., 1 3., 9 30,.A 2 8 .9 8 9 i .? 6 ., 3 6 .,9 21 , 7 n.. 1 1 ,, 3 1 .,? A..3 *i, *ïlt 4 1?.»n 4.,? 4., 1 9.,0 1 3., 1 7 9 t 7B9 - 1 ,.5 - 1 4 .,3 7 ft« 91 A 2 9 . « 4 2 ............. 6 ..4 3. 24« 4. 1, 1 0 ., 2 -2 -3 2« . M l * 5 ., 2 3,, 9 4 ,,9 4,.n 3 ,7 ?,,7 ?,. 6 ?,,? 3,, 5 3., 4 7,,4 ►1 4,,4 3,, 1 3<,S 3,.0 2 .,7 1 .,7 ], 1 ■,1 ?,,1 1 ,.8 4..9 1. 4... ,5 . . 3..3 4..1 3..3 V .n 2 .. 1 ?..n 1, .ft .6 .4 5, ?,.n n..3 3..4 - 1 -2 - n . .8 -0 -9 7 -7 4-63 5-68 6-68 7-68 8-68 1-69 2-69 3-69 4 -6 9 5 -6 9 6 -6 9 7 -6 9 1 -6 8 2 -6 8 3 -6 8 2 ft* 120 ..... ...... . 7 I.& 4 T ,n S,..a. . J ü b t A l i- . 1 0 .,5 .. . . . x . ,9 -2 z . m . 2 1 . 1 «« 1 7 -1 _L2 ~ i l ...... 1m.L ............. - .... I .... ____ l+h.___ U+À___L U 5 ___U u ± - .. Ske&fi__ iff DOLLARS _La«A_ » *J J -M . m iL iA L 9-68 ... 10-68 IN IT IA L 11-68 12-68 ,2 n.. 8 6 .,4 -1 -4 - n ..6 - 1 ., 1 2 ,■5 - 3 .8 - 4 . .6 -8 -4 7 9 t *7 1 2 9 .1 4 7 P 29^3271» MONTH §*- PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS PERSONAL INCOME ~ ................£.QM£OU4û£IL_ ANNUAL.ÄAJ&S. OF CHANGE DOLLARS ANNUAL RATES a ® « rH Î —&É 2 -6 8 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 6 6 4 .6 Ü «i l 1 4..0 6 7 1 .9 IK t 9 ,i 0 4 . ,7 6 7 4 .2 1 1 A,3 9 .,7 7 .,6 H . ,1 ■ Amim 1 1 «,2 9 .,9 8 .,6 7 - 6 fi |Q.,,9 9. •îs®Mkp 1n . 6 9,, 7 ......... 6 8 Q *2_ 1 1 .,2 ............ 4 8 1 . 9 . ....... . 1 0 .,9 10, ,5 8 .8 1 Û.,3 9 ,,9 9 -3 ft.,9 10-, 1 9,,7 9 -3 9 ,,2 6 9 L ,Q _ 6 9 6 .1 ID«.4 9.>6 A.,9 9 . .A 9.,5 9 .2 9 .>1 9 . ,0 f f | .,3 9, , 5 Ai ,9 9 ,,7 9, ,4 9 .1 9,, 1 9 , i0 9 -1 9.,2 9 ..1 9 .2 9 .»4 A.,9 A..A H -fl 8 ..6 7 -9 7. .3 6 .2 4 .6 ____ 7 0 6 .2 1 1«.Afl til,. ? 9«,5 9., o 9 .,7 9 .,4 9 .2 1 ?~6 ft in ,. n 9.,4 ft.. A 9 .,4 9,, ? 9 -0 A.,9 A..4 ft.,9 A., A 8 -3 A.,2 A..0 7 .7 A,, 5 A.,9 A.,7 8 .4 A..3 A..1 8 .0 7..7 7 .2 6 .8 9 .0 8 .8 8«,7 A.,7 8 .6 Ai .5 8 .3 8 .5 1 0 .4 1 1 .9 8 .4 9 .7 1 0 .1 8 .4 a. 2 9 .2 9 .2 7 .9 7 .4 .1 1 1 ^ 5 Î ~ 6<1 9, 7 -A 9 9«t 5 A.,9 9».6 9,,1 A,■A 9 .,2 9. .0 9, . h 9,,1 A.,7 9. ,1 Ai ,9 8 .8 Ai ,7 Ai 16 8 .6 a..5 8 .3 9. .0 A..A 8 .6 a,• 6 8 .• 5 8 .4 fl,.3 8 .2 4 -6 9 9,»4 9«, 5 f«~&9 ,4 8—'69 9..4 1 -6 8 9<.0 A..6 9.. 1 7 1 6 .0 7 1 8 .7 7 2 3 . 9 _______ 7 3 0 .7 7 3 5 .6 T4JDUÄ 8 ,,7 9., 1 A.,9 f l- ft A.,7 A.,7 ft.A ft..6 8 .5 8 .6 9 .4 9 .5 8 .7 8 .9 1 0 .4 9 -1 Ai ,7 9 ,,1 Ai ,9 8.8 Ai ,7 Ai ,7 ft.7 ft..6 8 .5 8.6 9 .3 9 .4 a. 7 8 .9 9 .6 8 .9 9 . .0 8..7 9-.0 ft..9 8.8 8..7 ft..7 8 .7 8..6 8 .5 8 .6 9 .2 9 .2 8 .7 8 .8 9 .3 8 .7 8 .6 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -6 8 1 1 -6 8 1 2 -6 8 1 -6 9 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 2 -6 8 1 Q U L .... -.... IN IT IA L 7 4 6 *1 7 5 1 .4 P 7 5 6 . 6P MONTH P - PRELIMINARY PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 7 R e ta il S a le s Ratio Scale Ratio Scale Source: U.S. D e p a rtm e n to f Commerce P e r c e n ta g e s a r e a n n u a l rates o f c h a n g e b etw een p e r io d s in d ic a te d . T h e y a r e p re se n te d to a id in c o m p a rin g m ost re ce n t d e v e lo p m e n ts with p a s t " tre n d s .” la te s t d a ta plotted: A u g u s t p r e lim in a r y Prepared by Federal Reserve Bank of St. Louis P e rso n a l Incom e Ratio Scale Ratio Scale Source: U.S. D epartm ent o f Commerce P e rc e n ta g e s are a n n u a l rates of c h a n g e b e tw ee n p e rio d s in d ic a te d . T h e y a re p re s e n te d to a id in c o m p a rin g m ost recent d e v e lo p m e n ts w ith p a st " tr e n d s .” Latest d a ta plotted: A u g u s t p r e lim in a ry Preoared by Federal Reserve Bank of St. Louis 8 GROSS NATIONAL PRODUCT IN CURRENT OOLLARS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL I N IT IA L 3—1>4 4 -6 4 1 -6 5 2 -6 5 4 -6 4 3 .9 1 -6 5 7 .6 2 -6 5 7 .8 9 .7 8 .0 3 -6 5 8 .? 9 .6 8 .7 9 .4 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 B IL L IO N S OF DOLLARS QUARTER 1 -6 7 2 -6 7 3 -6 7 “ “ 4 = 6 7 " 1 -6 8 2 -6 8 3 -6 8 4 -6 8 1 -6 9 6 4 5 .1 1 1 .4 6 6 2 .8 6 7 5 .7 6 9 1 .1 4 -6 5 « .a 1 0 .1 9 .6 1 0 .4 11*4 1 -6 6 9 .? m .3 1 0 .1 1 0 .8 1 1 .4 1 1 .4 2 -6 6 9 .0 9 .9 9 .6 1 0 .0 1 0 .2 9 .6 7 .8 3 -6 6 8 .8 9 .5 9 .2 9 .4 9 .4 8 .7 7 .4 4 -6 6 8 .7 9 .3 9 .0 9 .2 9 .1 8 .5 7 .6 7 .5 8 .1 1 -6 7 8 .0 8 .4 8 .1 8 .1 7 .9 7 .2 6 .1 5 .6 4 .9 2 -6 7 7 .7 8 .1 7 .7 7 .7 7 .4 6 .8 5 .9 5 .4 4 .9 3 .3 4 .9 3 -6 7 7 .8 8 .2 7 .8 7 .8 7 .6 7 .1 6 .4 6. 1 5 .9 5 .2 6 .9 8 .9 4 -6 7 7 .8 8 .2 7 .9 7 .8 7 .7 7 .2 6 .6 6 *4 6 .3 5 .9 7 .3 8 .5 7 1 0 .0 7 2 9 .5 7 4 3 .3 7 5 5 .9 7 .0 7 7 0 .7 1 .8 7 7 4 .2 7 8 3 .5 8 0 0 .4 8 1 6 .1 8 .1 1 -6 8 8 .0 8 .3 8 .0 8 .0 7 .9 7 .5 7 .0 6 .9 6 .9 6 .7 7 .9 8 .9 8 .9 9 .7 2 -6 8 8 .2 8 .5 8 .3 8 .3 8 .2 7 .9 7 .5 7 .5 7 .6 7 .5 8 .6 9 .6 9 .8 1 0 .T 1 1 .7 8 3 5 .3 8 5 8 .7 8 7 6 .4 3 -6 8 3 .2 8 .5 8 .3 8 .3 8 .2 8 .0 7 .6 7 .6 7 .7 7 .6 8 .6 9 .4 9 .5 1 0 .0 1 0 .1 8 .5 4 -6 8 8 .2 8 .5 8 .3 8 .3 8 .2 7 .9 7 .6 7 .6 7 .7 7 .6 8 .5 9 .1 9 .1 9 .4 9 .2 8 .0 1 -6 9 3 .1 8 .4 8 .2 8 .2 8 .1 7 .9 7 .6 7 .6 7 .6 7 .6 8 .3 8 .8 8 .8 9 .0 8 .8 7 .8 7 .5 7 .5 2 -6 9 8 .1 8 .3 8 .2 8 .2 8 .1 7 .8 7 .6 7 .6 7 .6 7 .6 8 .2 8 .6 8 .6 8 .7 8 .5 7 .7 7 .4 7 .4 7 .3 3 -6 4 A - 64 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4 -6 8 1 -6 9 IN IT IA L 7 .6 8 9 2 .5 9 0 8 .7 9 2 4 .8 QUARTER PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS 1UGUST 1 5 * 1 9 6 9 GROSS NATIONAL PRODUCT IN CONSTANT 1 958 DOLLARS COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL QUARTER I N IT IA L 3 -6 4 4 -6 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 B IL L IO N S OF OOLLARS ANNUAL RATES QUARTER 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4 -6 8 1 -6 9 1 .9 5 8 8 .5 1 -6 5 5 .5 9 .2 2 -6 5 5 .6 7 .6 6 .0 3 -6 5 6 .3 7 .8 7 .1 8 .2 4 -6 5 6 .9 8 .2 7 .8 8 .8 9 .4 1 -6 6 7 .1 8 .2 7 .9 8 .5 8 .7 8 .1 6 0 1 .6 6 1 0 .4 6 2 2 .5 6 3 6 .6 6 4 9 .1 2 -6 6 6 .6 7 .4 7 .0 7 .3 7 .0 5 .9 3 .7 3 -6 6 6 .2 6 .8 6 .4 6 .5 6 .1 5 .0 3 .4 3 .2 4 -6 6 6 .0 6 .5 6 .2 6 .2 5 .8 4 .9 3 .9 4 .0 4 .9 1 -6 7 5 .3 5 .7 5 .3 5 .2 4 .7 3 .7 2 .7 2 .3 1 .9 - 1 .0 ? -6 7 5 .0 5 .4 4 .9 4 .8 4 .3 3 .5 2 .6 2 .4 2 .1 0 .7 2 .4 3 -6 7 5 .0 5 .3 4 .9 4 .8 4 .4 3 .7 2 .9 2 .8 2 .7 2 .0 3 .5 4 -6 7 4 .9 5 .1 4 .8 4 .6 4 .2 3 .6 3 .0 2 .9 2 .8 2 .3 3 .4 3 .9 3 .3 1 -6 8 4 .9 5 .2 4 .8 4 .7 4 .4 3 .9 3 .3 3 .3 3 .3 3 .0 4 .0 4 .6 4 .6 5 .9 2 -6 8 5 .1 5 .3 5 .0 5 .0 4 .7 4 .2 3 .8 3 .8 3 .9 3 .7 4 .7 5 #3 5 .5 6 .6 7 .4 3 -6 8 5 .0 5 .2 5 .0 4 .9 4 .6 f i '2 3 .8 3 .8 3 .9 3 .8 4 .6 5 «0 5 .1 5 .8 5 .7 4 -6 8 4 .9 5 .1 4 .8 4 .8 4 .5 4 .1 3 .8 3 .8 3 .8 3 .7 4 .4 4 .7 4 .8 5 .1 4 .9 3 .6 3 .2 1 -6 9 4 .8 5 .0 4 .7 4 .6 4 .4 4 .0 3 .7 3 .7 3 .7 3 .6 4 .2 4 .4 4 .4 4 .6 4 .3 3 .3 2 .9 2 .6 2 -6 9 4 .6 4 .8 4 .5 4 .5 4 .2 3 .9 3 .5 3 .5 3 .6 3 .4 3 .9 4 .1 4 .0 4 .2 3 .8 3 .0 2 .6 2 .3 3 -6 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 6 5 5 .0 6 6 0 .2 6 6 8 .1 IN IT IA L 6 6 6 .5 6 7 0 .5 4 .5 6 7 8 .0 .3 -6 7 , 6 8 3 .5 4 -6 7 6 9 3 .3 7 0 5 .8 7 1 2 .8 4 .0 J h & 7 1 8 .5 L 7 2 3 .1 2 .0 7 2 6 .7 -4 = 6 8 QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS 9 Demand and Production Ratio Scale 1961 Ratio Scale Q u a rte rly T o ta ls at A nnual Rates 1962 1963 1964 1965 1966 1967 1968 1969 L lG N P in current d o lla rs. Source: U.S. D epartm ent of Commerce [2 GNP in 1958 dolla rs. Percentages are annual rates o f change between periods indicated. They are presented to a id in com paring most recent developm ents w ith past ' ’tre n d s." Latest data plotted: 2nd qu a rte r Prepared by Federal Reserve Bank of St. Louis ID _______________________________________________________________ FINAL SALES IN CURRENT DOLLARS__________________________________________________________________ COMPOUNb^D annual rates of change B IL L IO N S OF T I rmT n a l -------------------------------------------- --------------------------------------------------------------r N f f t A L fruA'fetgR------------------------------------------------------------------------------------------------------C o l l a r s QUARTER___________________________________________________________________________________________________________________________________________________________ ANNUAL RATES 64 4 -6 4 T - s r - 2 - T T 3 -6 8 4 -6 8 1 -6 9 4 - 6 3 ...- p s r 2 - « T T - x r " 4—¿6 " T - 6 7 ” T = 6 T “ £ - 6 i ’""4—6 T ’ " 1 - 6 8 2 -6 8 4 -6 4 6 3 7 .4 2 .1 1 -6 5 5 .7 9 .4 6 5 1 .9 2 —65 6 .9 9 .4 9 .5 6 6 6 .8 3 -*5 7 .6 9 .5 9 .5 * .5 4 -6 5 8 .3 9 .$ 1 0 .0 1Ò .3 11. Ï 682. 1 7 0 0 .3 1 -6 6 « .7 1 0 .0 1 0 .2 1 0 .4 1 0 .9 1 0 .6 2 -6 6 3 .1 9 .2 9 .1 9 .0 8 .9 7 .8 3 -6 6 8 .3 9 .2 9 .2 9 .2 9 .1 8 .4 7 .3 9 .6 4 -6 6 7 .8 8 .5 8 .4 8 .2 8 .0 7 .2 6 .1 6 .6 7 1 8 .2 7 2 7 .1 5 .1 7 4 4 .0 7 5 0 .8 3 .7 i- 6 7 7 .8 8 .5 8 .3 8 .2 8 .0 7 .3 6 .5 7 .0 5 .8 7 .9 2 —67 7 .8 8 .4 3 .3 8 .2 8 .0 7 .5 6 .8 7 .3 6 .5 8 .0 8 .1 7 6 5 .2 7 8 0 .2 3 -6 7 7 .7 8 .2 8 .1 8 .0 7 .8 7 .3 6 .8 7 .1 6 .5 7 .5 7o3 6o5 4 -6 7 7 .7 8 .2 8ol 7 .9 7 .7 7 .3 6 .9 7 .2 6 .7 7 .4 7 .3 6 .9 7 .3 7 9 2 .6 8 0 6 .6 1 -6 8 3 .1 8 .6 8 .5 8 .5 8 .4 8 .1 7 .7 8 .1 7 .9 8 .7 8 .9 9 .2 1 0 .6 1 4 .1 2 -6 * 8 .1 8 .5 8 .5 8 .4 8 .3 8 .0 7 .7 8 .0 7 .8 8 .5 8 .6 8 .8 9 .6 1 0 .7 7 .5 3 -6 8 8 .2 8 .6 8 *6 8 .5 8 *4 8 .2 7 .9 8 .3 8 .1 8 .7 8 .9 9 .0 9 .7 1 0 .5 8 .7 lOoO 4 -6 « « .1 8 .5 8 .4 8 .3 8 .2 8 .0 7 .8 8 .0 7 .9 8 .4 8 .5 8 .5 8 .9 9 .3 7 .8 8 .0 6 .0 1 -6 9 8 .1 8 .5 8 .5 8 .4 8 .3 8 .1 7 .9 8 .2 8 .0 8 .5 8 .6 8 .6 9 .0 9 .4 8 .2 8 .5 7 .7 9 .4 2 -6 9 8 .1 8 .4 8 .4 8 .3 8 .2 8 .0 7 .8 8 .1 7 .9 8 .4 8 .4 8 .5 8 .7 9 .0 8 .0 8 .1 7 .5 8 .3 7 .2 3 -6 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4 -6 8 1 -6 9 IN IT IA L 8 3 3 .6 8 4 8 .8 8 6 9 .2 8 8 2 .0 9 0 2 *1 9 1 7 .9 QUARTER PREPAREO BY FEDERAL RESERVE BANK OF S T . LOUIS AUGUST 15* 1969 F IN A L SALES IN CONSTANT 1958 DOLLARS COMPOUNOFO ANNUAL RATES 1DF CHANGE TERMINAL QUARTE* IN IT IA L *-6 4 4 -6 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 $ 1 -6 6 2 -6 6 3 -6 6 4 -6 6 " IL L IO N S OF DOLLARS ANNUAL RATES QUARTER 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4 -6 8 1 -6 9 -O .l 580o9 591.7 1 -6 5 3 .7 7 .6 2-6*> 4 .9 7 .4 7 .2 3 -6 5 5 .7 7 .7 7 .7 4 -6 5 6 .3 « .0 8 .1 8 .5 9 .0 1 -6 6 6 .5 7 .8 7 .9 8 .1 8 .1 7 .3 2 -6 6 5 .6 6 .6 6o4 6 .2 5 .6 4 .0 0 .8 3 -6 6 5 .7 6 .5 6o4 6 .2 5 .7 4 .7 3 .4 6 .1 4 -6 6 5. i 5 .7 5 .5 5 .2 4« 6 3 .5 2 .3 3 .1 0 .2 602.1 6 1 4 .0 8 .1 6 2 7 .3 638.4 6 3 9 .6 649* 1 649.5 1 -6 7 5. 1 5 .7 5 .5 5 .2 4 .7 3 .9 3 .1 3 .9 2 .8 5 .3 2 -6 7 5 .2 5 .7 5 .5 5 .3 4 .9 4 .2 3 .6 4 .3 3 .8 5 .6 3 -6 7 4 .9 5 .4 5 .1 4 .9 4 .5 3 .9 3 .3 3 .9 3 .3 4 .4 3 .9 2 .0 4 -6 7 4 .7 5 .1 4 .9 4 .7 4 .3 3 .7 3 .2 3 .6 3 .2 3 .9 3 .4 2 .2 2 .5 1 -6 8 5 .1 5 .5 5 .3 5 .2 4 .9 4 .4 4 .1 4 .6 4 .3 5 .2 5 .1 4 .9 6 .4 1 0 .5 2 -6 8 5 .0 5 .3 5 .2 5 .0 4 .7 4 .3 4 .0 4 .4 4 .1 4 .8 4 .7 4 .4 5 .2 6 .6 2 .9 3 -6 8 5 .0 5 .4 5 .2 5 .0 4 .4 4 .1 4 .5 4 .3 4 .9 4# 8 4 .6 5 .3 6 .3 4 .2 5 .6 4 -6 8 4 .8 5 .1 4 .9 4 .8 4 .5 4 .2 3 .9 4 .2 4 .0 4 .5 4 .4 4 .1 4 .5 5 .1 3 .3 3 .5 1 -6 9 4 .8 5 .1 4 .9 4 .8 4 .5 4 .2 4 .0 4 .3 4 .1 4 .5 4 .4 4 .2 4 .6 5 .0 3 .7 3 e9 3 .1 4<> 7 2 -6 9 4 .6 4 .9 4 .7 4 .6 4 .4 4 .0 3 .8 4 .1 3 .9 4 .2 4 .1 3 .9 4 .2 4 .5 3 .3 3 .4 ?. 7 3 .3 2 .0 3 -6 4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 —6 6 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4—68 1 -6 9 6 5 8 .0 5 .8 6 6 7 .4 6 *0 .7 6 7 4 .8 6 9 1 .8 6 9 6 .8 7 0 6 *3 1 .5 709 o 0 7 i 7* 2 7 2 0 .7 IN IT IA L QUARTER PREPARED BY FEDERAL. RESERVE BANK OF ST« LOUIS AU Ó U ST15, 1969 11 Final Sales Total Spending Less Changes in Business Inventories Ratio S c a le Ratio S c a le Source*. U.S. Department of Commerce Percentages are ann ual rates o f change between periods indicated. They are presented to aid in com paring most recent developm ents w ith past "trends.” Latest d a ta p lotted: 2nd q u a rte r prelim inary; Prepared by Federal Reserve Bank o f St. Louis “ c o n s p wEr - p m r i w i J f e x »-------- COMPOUNDED ANNUAL KATES OF CHANGE TERMINAL_______ _________________________ ________________ tN tT lA L MONTH to h t h " 1 -6 8 2 -6 8 3 -6 8 4 -6 8 5—68 6 -6 8 7 -6 8 8 -6 8 1 9 57-5 9 • 9 -6 8 10 -68 1 1 -68 1 2 -6 8 1 -69 2 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 2 -6 8 4 ,1 3 -6 8 4 .6 5 .2 4-6#» 4 ,5 4 .6 4 .1 5 -6 « 4 .4 4 .4 4. 1 4 .1 6 -6 8 4 .7 4 .o 4 .8 5 .1 6 .2 7 -6 8 5 .0 5 .1 5 .1 5 .4 6 .1 8 -6 8 4 .8 4 .9 4 .9 5 .1 5 .4 5 .1 4 .0 9 -6 8 4 .6 4 .7 4 .6 4 .7 4 .8 4 .4 3 .5 10—66 4 .^ 5 .0 4 .9 *. 1 5 .3 5 .0 4 .7 5 .0 7 .1 1 1 -6 « 4 .9 6 .0 * .9 5 .1 5 .2 5 .0 4 .8 5 .0 6 .0 5 .0 1 2 -6 8 4 .7 4 .3 4 .7 4 .8 4 .9 4 .7 4 .4 4 .5 5 .0 4 .0 3 .0 1 -6 9 4 .6 4 .7 4. 6 4 .7 4 .8 4 .6 4 .3 4 .4 4 .7 4 .0 3 .5 4 .0 2 -6 9 4 .7 4 .7 4 .7 4 .7 4 .8 4 .6 4 .4 4 .5 4 .8 4 .2 3 .9 4 .4 4 .9 3—69 s .o 5 .1 5 .1 5 .? 5 .3 5 .2 5 .1 5 .3 5 .6 5 .4 5 .4 6 .3 7 .5 1 0 .1 4 -6 9 5 .? 5 .3 5 .3 5 .4 5 .5 5 .5 5 .4 5 .6 6 .0 5 .8 5 .9 6 .7 7 .6 9 .0 7 .9 5 -6 9 5 .1 5 .2 5 .? 5 .3 5 .4 5 .3 5 .3 5 .4 5 .7 5 .5 5 .6 6 .1 6 .7 7 .3 5 .9 3 .9 6 -6 9 5. * 5 .4 5 .4 5 .5 5 .6 5 .5 5 .5 5 .6 5 .9 5 .8 5 .9 6 .4 6 .9 7 .4 6 .5 5 .8 7 -6 9 5 .3 5 .4 5 .4 6 .5 5 .6 5 .6 5 .5 5 .7 5 .9 5 .8 5 .9 6 .3 6 .7 7 .1 6 .3 5 .8 6 .8 5 .8 8-6 9 5 .3 5 .4 5 .4 5 .5 5 .5 5 .5 $ .5 5 .6 5 .8 5 .7 5 .8 6 .1 6 .4 6 .7 6 .0 5 .6 6 .1 5 .3 1—68 2 -6 8 3 -6 8 4 -6 3 5 -6 8 6 -6 8 7-68 8 -6 8 9 -6 8 1 0 -6 8 1 1 -6 8 12-68 1 -6 9 7 -6 9 1 -6 9 100 7 -6 9 1 1 9 .0 1 1 9 .5 1 1 9 .9 1 2 0 .3 1 2 0 .9 6 .1 1 2 1 .5 1 2 1 .9 3 .0 1 2 2 .2 1 2 2 .9 1 2 3 .4 1 2 3 .7 12 4.1 1 2 4 .6 1 2 5 .6 1 2 6 .4 1 2 6 .8 7 .8 1 2 7 .6 1 2 8 .2 1 2 8 .7 4 .8 "5 -W — "178! T I AC"MTCWTR'' * MOT SEASONALLY ADJUSTED PREPARED BY FEDERAL HfcStRVE BANK OF S I . LuU lS SEPTEMBER 2 3 , 1969 COMPOUNDED ANNUAL RATES OF CHANGE 1-68 1 2 -6 8 19 57-5 9 * IN IT IA L MONTH TERMINAL 'MONTH 2 -6 8 3 -6 8 4 -6 8 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -68 1 1 -6 8 1 2 -68 1 -6 9 2 -6 9 3 -6 9 4 -6 9 6 -6 9 100 7 -6 9 1 0 8 .0 9 .3 3 -6 8 5 *7 2 .2 1 0 8 .2 4 -6 8 4 .2 1 .7 1 0 8 .3 5 -6 8 3 *7 1 .9 1 .7 2 .2 6 -6 8 3 .4 2 .0 1 .9 2 .2 l.t 1 0 8 .5 2 .2 1 0 8 .7 1 0 9 .1 7 -6 8 3 .6 2 .5 2 .5 3 .0 3 .4 4 .5 8 -6 8 2 .4 1 .3 1 .1 t.l 0 .7 0 .0 -4 .3 9 -6 8 2 .7 1 .8 1 .7 1 .8 1 .7 1 .5 0 .0 4 .5 10 -68 2 .4 1 .5 1 .4 1 .5 1 .3 1 .1 0 .0 2 .2 0 .0 11-68 2 .7 2 .0 1.9 2 .1 2 .0 2 .0 1 .4 3 .4 2 .8 1 0 8 .7 10 9 .1 10 9.1 1 0 9 .6 5 .6 1 0 9 .8 12-68 2 .6 2 .0 2 .0 2 .1 2 .1 2 .0 1 .5 3 .1 2 .6 3 .9 2 .2 1-69 3 .3 2 .7 2 .8 3 .0 3 .1 3 .2 3 .0 4 .5 4 .5 6 .0 6 .2 1 0 .3 2 -6 9 3 .4 2 .9 2 .9 3 .1 3 .2 3 .3 3 .2 4 .5 4 .5 5 .6 5 *6 7 .3 4 .4 3 -6 9 3 .6 3 .2 3 .2 3 .4 3 .5 3 .7 3 .6 4 .8 4 .8 5 .8 5 .9 7 .1 5 .5 6 .7 4 -6 9 3 .5 3 .1 3 .2 3 .3 3 .4 3 .5 3 .4 4 .4 4 .4 5 .2 5 .1 5 .8 4 .4 4 .4 2 .2 5 -6 9 3 .9 3 .5 3 .6 3 .8 4 .0 4 .1 4 .1 9 .1 5 .1 5 .9 5 .9 6 .7 5 .8 6 .3 6 .1 10.1 1 1 0 .7 111*1 ill. 7 1 1 1 .9 1 1 2 .8 1 1 3 .2 6 -6 9 3 .9 3 .6 3 .7 3 .9 4 .0 4 .1 4 .1 5 .0 5 .0 5 .7 5 .7 6 .3 5 .5 5 .8 5 .5 7 .2 4 .3 7 -6 9 3 .8 3 .4 3 .5 3 .7 3 .8 3 .9 3 .8 4 .6 4 .6 5 .2 5 .1 5 .5 4 .8 4 .8 4 .4 5 .1 2 .7 1 .1 8 -6 9 3 .6 3 .3 3 .4 3 .5 3 .6 3 .7 3 .6 4 .3 4 .3 4 .7 4 .6 5 .0 4 .2 4 .2 3 .7 4 .1 2 .1 l.l 6—68 T tf— » ■ M iU 'ftfl IN I U A L • 5 -6 9 IZ-OO -f*S 9 — 2 *6 9 3 - 6 9 ... 4 -6 9 1 1 3 .3 t.l 1 1 3 .4 6—69 N U I f in NOT SEASONALLY ADJUSTED PREPARED BY FEDERAt RESERVE BANK OF S T ¿ L OUIS SEPTEMBER IT 1969 13 Prices Ratio Scale 1957 59=100 - Ratio Scale 1957 59=100 - Source: U.S. D epartm ent of Labor Percentages are annual rates o f change between periods indicated. They are presented to a id in comparing most recent developm ents w ith past trends.” Latest data plotted: August prelim inary Prepared by Federal Reserve Bank of St. Louis » wtw c i m r m ccs « i n d u s t r i a l ■x d h woo i t t c s ’ ■» COMPOUNDED ANNUAL RATES OF CHANGE TERMINAL rnjf^rri 1 9 5 7 -5 9 * 100 IN IT IA L MONTH 1-68 2 -6 8 3—68 4 -6 8 5 -6 8 6 -6 8 2 -6 8 5 .7 5 «¿a 4 .5 5 .4 4 -6 8 3 .8 2 .3 2 .2 5 -6 8 2 .2 1*1 0 .0 6 -6 3 2 .2 1 .4 0 .7 0 .0 2 *2 r-6 8 1 .9 1*1 0 .6 0 .0 1 .1 0 *0 7 -6 8 8 -6 8 9 -6 8 10 -68 11 -68 1 2 -68 2 -6 9 1 -6 9 3 -6 9 4 -6 9 5 -6 9 6 -6 9 7 -6 9 1 0 8 .3 1 0 8 .6 1 0 8 .8 -2 .2 1 0 8 .6 1 0 8 .8 1 0 8 .8 1 0 8 .9 8-6 8 1 .8 l.l 0 .7 0 .3 1*1 0 *6 1*1 9*'©8 2 .0 1 .4 i.l 0 .9 1 .7 1*5 2 *2 3 *4 10-63 2 .4 1 .9 1 .7 1 .7 2 .4 2 .5 3*4 4*5 5 *6 t i~ »a 2 *3 2 .0 t.8 1 .7 2 .4 2 *4 3 .1 3 *7 3 *9 2 *2 12-63 2 .4 2 .1 2 .0 1 .9 2 *5 2 .6 3 *1 3 *6 3 .7 2 *8 3 .3 1 -6 9 2*9 2 .6 2 .5 2 .6 3 *2 3 .3 3 *9 4 .5 4 *7 4 *4 5 .6 7 .9 2 -6 9 3.1 2 .9 2 .8 2 .9 3 *5 3 *6 4 *1 4%6 4 *9 4 *7 5 .6 6 .7 5 .5 3-69 3*3 3 .1 3.1 3 .2 3 *8 3 *9 4 *4 4 .9 5 *2 5*1 5*8 6 *7 6 .1 6 .7 V 69 3 .2 3 .0 3 .0 3 .0 3 .5 3 *7 4*1 4 .4 4 *6 4 *4 4 *9 5 .3 4 .4 3 .8 S~69 3 *0 2 .9 2 .8 2 .9 3 .3 3 *4 3 .8 4 .1 4*1 3 .9 4*2 4 .4 3 .6 2 .9 1*1 1 .1 &~69 2*9 2 .7 2 .6 2 *7 3 .1 3*1 3*4 3 *6 3 *7 3 *4 3 .6 3 .7 2 .8 2 .2 0 *7 0 .5 7-69 2*8 2 .7 2 .6 2 .6 3 .0 3*1 3 .3 3 .5 3 *5 3 *3 3 .4 3 .4 2 .7 2 .2 1*1 1 .1 1 .1 2 .2 8 -6 9 2 .9 2 .8 2 .7 2 *7 3 *1 3 .1 3 *4 3 .6 3*6 3 *4 3 .5 3 *6 3 *0 2 .5 1 .7 1 .9 2 .2 3 .3 4 .4 1—68 2 -6 8 3—68 4—68 1 9—68 10—68 11-68 12—68 1—69 2 -6 9 3 ^4 9 4—69 5—69 6—69 7—69 6—68 7 *6 8 1 8 *6 8 1 0 9 .2 1 0 9 .7 1 0 9 .9 1 1 0 .2 1 1 0 .9 1 1 1 .4 1 1 2 .0 1*1 11 2 .1 1 1 2 .2 0 .0 1 1 2 .2 1 1 2 .4 1 1 2 .8 IN I 1 IA L HUNIH NOT SEASONALLY ADJUSTED * rK c rA K C u o f re u c K A L VIC^CKYC DAVVW U r d l • " t o u r s ■ ............... SEPTEMBER IT 1969 WHOLESALE PRICFS - FARM PRODUCTS. AND PROCESSED FOODS AND FEEDS COMPOUNOFD ANNUAL RATES OF CHANGE IN IT IA L TFRM1NAL MONTH 1 -6 8 3 -4 « 2 -6 8 4 -6 * 5 -6 8 6 -6 8 7 -6 8 8 -6 8 9 -6 8 1 0 -6 8 1 957-59 » 100 MONTH 11 -6 8 1 2 -6 8 1 -6 9 1 8 .5 3 -6 8 9 .5 1.1 4 -6 8 5 .9 0 .0 - l.l 5 -6 8 7 .6 4 -> 5 .7 6 -6 8 6 .3 3 .4 4 .? 6 .9 1.1 7 -6 8 T .q 5 .9 7 .2 10.1 3 .6 1 6 .7 __ \ jl.9_. .... 1 .7 1 0 9 .4 1 0 7 .7 2 .5 - 0 .7 -1 .7 -1 7 .1 4 .1 2 .0 2 .2 -4 .3 1 0 .5 1 0 -6 8 7 .7 G._S O.S 1 .1 -1 .1 -1 .7 -7 .1 - 1 .7 -1 2 .5 1 1—68 > .4 1 .9 ? .o ?*4 0 .7 0 .7 - 3 .0 2 .2 -1 .6 1 0 .5 2 .3 O .fl 0 .7 —2 .2 2 .0 -0 .7 5 .7 i .A 2 .7 2 .9 0 .7 4 .7 3 .4 9 .2 8 .6 1 6 .6 9 .2 2 .2 5 .0 _1.01. .1 *.3_ 3 .1 3 .3 1 0 8 .6 1 0 7 .4 1 0 9 .8 ___3 .0 3 .2 3 .6 2 .6 2 .8 0 .9 4 .3 3 .1 7 .4 __ 4 . 4 3 .4 3 .6 4 .0 3 .1 3 .3 1 .8 4 .8 3 .9 T .5 6 .8 8 .8 4 .2 3 .3 3 .4 3 .3 3 .0 3 .2 1 .8 4 .5 3 .7 6 .6 5 .9 7 .1 5 - 6 9 ____6 .2 - .^ .4 5 .7 6 .3 5 .7 6 .2 5 .2 8 .0 7 .7 1 0 .9 1 1 .0 1 3 .1 6. 0 6 .4 _ 6 .9 6 .5 6 .9 6 .1 8 .8 8 .6 1 1 .5 1 1 .7 1 3 .5 1 2 .9 1 1 .5 1 0 .7 3 r6 9 -. 4 -6 « 4 .1 ...6rAJa„.___ A .-Z _ 7 -A 9 ... ¿.-4 __ 5 .7 6 .0 6 .5 6 .0 6 .4 5 .6 7 .9 7 .7 1 0 .? 1 0 .1 4 .3 5 .0 5 .4 4 .9 5 .2 4 .4 6 .4 6 .0 8 .1 7 .8 l- 6 > i 2 -6 « 3-6 8 4 -6 * 5 -6 8 6 -6 8 7 -6 8 8 -6 8 1 1 0 .0 7 .9 1 1 0 .7 4 .1 5 .0 2 .2 1 1 0 .9 1 2 .2 1 5 .8 1 9 .9 4 0 .7 1 5 .8 1 8 .5 2 7 .6 1 5 .8 1 2 .4 1 3 .6 17*7 7 .6 0 .0 1 .8 -4 .6 -9 .0 5 -6 9 6 -6 9 7 -6 9 8 .7 7 .6 8 .5 8 *7 1 0 .3 9 -6 3 10-68 11 -68 12-68 1-6 9 2 -6 9 3 -6 9 4 -6 9 IN IT IA L * 1 0 8 .3 1 0 8 .4 1 .1 6 .4 > -6 9 7 -6 9 1 0 8 .0 1 .* ...4 .3 6 -6 9 1 0 7 .9 •*.? ... 3 *2 5 -6 9 1 0 6 .8 2 .9 1 -6 9 4 -6 9 1i . 1 4 .7 „1Z~.63._ 3 -6 9 1 0 6 .9 9 -6 8 „..6-6.3-.. 2 -6 9 1 0 6 .8 2 -6 3 11 4 .1 1 1 5 .5 1 1 5 .5 1 1 4 .6 MONTH N’GT SE4S0 JALI.Y ADJUSTED PREPARED BY FEDERAL RESERVE BANK OF ST* LOUIS SEPTEMBER 11* 1969 15 * As usod in Notional Incomo Accounts Source? U.S. Department of Commerce Percentages are annual rates of change between periods indicated. They are presented to aid in comparing most recent developments with past “ trends.” latest data plotted: 2nd quarter Prepared by Federal Reserve Bank of St. Louis IM P L IC IT PRICE DEFLATOR FOR GROSS NATIONAL PRODUCT COMPOUNDED ANNUAL RATES OF CHANGE 3 -6 4 4 -6 4 1 958 « 100 IN IT IA L QUARTER TERMINAL QUARTER 4 -6 4 1 -6 $ ¿ -6 5 i- 6 * 4 -6 4 1 -6 6 ¿ -6 6 3 -6 6 4 -6 6 1 -6 ? Ì -é 1 3 -6 f 4 -6 7 1 -6 8 2 -6 8 3 -6 8 4^68 1 -6 9 1 0 9 .6 1 .8 1 -6 5 2 .0 2 .2 2 -6 5 2 .0 2 .0 1 1 0 .2 1 1 0 .7 1 .8 1 1 1 .0 ? -6 5 1 .7 1 .7 1 .5 1 .1 4—65 1 .8 1 .7 1 .6 1 .5 1 .8 --- 7 -- 1 1 1 .5 1 1 2 .4 1 -6 6 2 .0 2 .0 2 .0 2 .1 2 .5 3 .3 2 -6 6 7 .3 2 .4 2 .4 2 .5 3 .0 3 .6 4 .0 3 -6 6 2 .4 2 .5 2 .6 2 .7 3 .2 3 .6 3 .8 4 -6 6 2 .5 2 .6 2 .7 2 .8 3 .2 3 .5 3 .6 3 .4 3 .2 1 -6 7 2 .6 2 .6 2 .7 2 .8 3 .1 3 .4 3 .4 3 .2 3 .0 2 .8 2 -6 7 2 .5 2 .6 2 .7 2 .8 3 .0 3 .2 3 .2 3 .0 2 .8 2 .6 2 .4 1 1 3 .5 3 .6 1 1 4 .5 1 1 5 .4 1 1 6 .2 1 1 6 .9 3 -6 7 2 .7 2 .8 2 .8 2 .9 3 .1 3 .3 3 .4 3 .2 3 .1 3 .1 3 .3 4 .2 4 -6 7 2 .8 2 .9 3 .0 3 .1 3 .3 3 .5 3 .5 3 .4 3 .4 3 .5 3 .7 4 .3 4 .5 1 1 8 .1 1 1 9 .4 1 -6 8 2 .9 3 .0 3 .0 3 .1 3 .3 3 .5 3 .5 3 .5 3 .5 3 .5 3 .7 4 .1 4 .1 3 .7 2 -6 8 3 .0 3 .0 3 .1 3 .2 3 .4 3 .6 3 .6 3 .5 3 .5 3 .6 3 .8 4 .1 4 .1 3 .9 4 .0 1 2 0 .5 1 2 1 .7 3 -6 8 3 .0 3 .1 3 .2 3 .3 3 .5 3 .6 3 .6 3 .6 3 .6 3 .7 3 .8 4 .1 4 .1 3 .9 4 .0 4 .0 4 -6 8 3 .1 3 .2 .3 .2 3 .3 3 .5 3 .7 3 .7 3 .7 3 .7 3 .7 3 .9 4 .1 4 .1 4 .0 4 .1 4 .2 4 .3 1 -6 9 3 .2 3 .3 3 .3 3 *4 3 .6 3 .8 3 .8 3 .8 3 .8 3 .9 4 .0 4 .2 4 .2 4 .2 4 .3 4 .4 4 .6 4 .9 2 -6 9 3 .3 3 .4 3 .5 3 .6 3 .7 3 .9 3 .9 3 .9 3 .9 4 .0 4 .1 4 .4 4 .4 4 .4 4 .5 4 .6 4 .8 5 .1 5 .2 3 -*4 4 -6 4 1 -6 5 2 -6 5 3 -6 5 4 -6 5 1 -6 6 2 -6 6 3 -6 6 4 -6 6 1 -6 7 2 -6 7 3 -6 7 4 -6 7 1 -6 8 2 -6 8 3 -6 B 4 -6 8 1—6 9 IN IT IA L 1 2 2 .9 1 2 4 .2 1 2 5 .7 1 2 7 .3 QUARTER PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS AUGUST 15, 1969 Inventories Compared With Monthly Sales 1 72 68 64 ,60 56 .52 ,48 ,44 40 ,36 Ratios based on seasonally adjusted data. Source-.U.S.Departm entofCom m erce Shaded areas represent periods of business recessions as defined by the National Bureau of Economic Research. .atest data plotted: July Prepared by Federal Reserve Bank of St. Louis