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ITRAL MiSSiSSIPPi VALLEY
'NOMiC iNDiCATORS

COLUMBIA
ST. LOUIS
EVANSV ILLE
LOUISVILLE

O S P R I N G F IE L D

O

F A Y E TTEVILLE-SPR IN G D A LE

FORT SMITH

MEMPHIS
LITTLE RO CK

o

PINE BLUFF

O

texarkana

1ST Q U A R TER 1 9 7 8




P r e p a r e d by F e d e r a l R e serve B ank of St. Louis
Released: May 23, 1978

DATA DESCRIPTION
Selected economic data for the Central Mississippi Valley (CMV)
are generally provided for five states and eight metropolitan areas which
are entirely or partially within the Eighth Federal Reserve District. In
addition, Federal Reserve member bank data are provided for three smaller
SMSAs (Standard Metropolitan Statistical Areas) and for all seven states
and nonmetropolitan areas within the Eighth District portion of these
states. Also, the metropolitan summary of population includes 13 SMSAs in
the CMV. Metropolitan areas refer to the 1973 SMSA definitions, except
where noted, and states in some cases refer only to the Eighth District
portion of the state. The latest data for some series are preliminary and
will be revised as final figures are received.
Income and Trade Indicators
Personal income and department store sales data are from the U.S.
Department of Commerce. In April 1977, numerous revisions were
incorporated into the department store series, including boundary
redefinitions for SMSAs. New Passenger Car Registrations are from R. L.
Polk and Company. U.S. passenger car sales are from the U.S. Department of
Commerce. All agricultural data are from the U.S. Department of
Agriculture.
Employment Indicators
Employment data are from the respective state Employment Security
Offices and the United States Department of Labor. Data for Memphis
include only Shelby and Tipton counties in Tennessee and Crittenden County
in Arkansas. Total employment, unemployment, and labor force are based on
household (place-of-residence) data. Payroll employment data, which
include manufacturing, nonmanufacturing, and hours and earnings in
manufacturing, are based on establishment (place-of-work) data.
Production and Price Indicators
Electric power consumption data for the Eighth Federal Reserve
District are based on reports to this Bank from various utility and self­
generating firms in the District and U.S. data are obtained from the Board
of Governors of the Federal Reserve System. The series Value of Construction
Contracts Let are from Dodge Construction Potentials, McGraw-Hill Information
Systems Company. Housing permits are from the U.S. Department of Commerce.
Financial Indicators
Total loan and deposit data for states, metropolitan areas, and
nonmetropolitan areas are only from member banks in the Eighth District.
Such data are averages of the weekly member bank reports for the month and
are not strictly comparable over time due to withdrawals and additions of
member banks (see average number of member banks, page 35). Savings and
loan data are obtained from the various Federal Home Loan Banks. These
data for the Fort Smith metropolitan area include only those counties in
the State of Arkansas, and for St. Louis include only St. Louis City and
St. Louis County in Missouri, and Clinton, Madison, Monroe, and St. Clair
counties in Illinois.




2

SUMMARY OF CENTRAL MISSISSIPPI VALLEY ECONOMIC ACTIVITY
The current economic expansion, which marked its third anniversary in the
first quarter of 1978, has been similar in the Central Mississippi Valley (CMV) to
that of the nation. For example, total employment during the recovery has increased
at about a 3.5 annual percent rate in both the United States and five CMV states.
Residential building, which has been one of the strongest performing sectors in the
recovery, has increased at nearly a 40 percent annual rate in both the region and
nation.
Looking at the recent performance, several indicators show that the coal
strike and severe winter weather had some adverse effects on first quarter activity.
For example, these factors likely accounted for the decline of department store sales
in early 1978, as sales in six CMV metropolitan areas fell sharply from the high level
at the end of 1977. Production in the CMV states was also hampered somewhat as
evidenced by a decline in the average number of hours worked per week in manufacturing
from 40.3 in December to 37.7 in January. The cold weather also appears to have
adversely affected the housing industry in the first quarter as indicated by a sharp
drop in housing permits.
Other indicators, however, point to continued strength in the CMV economy.
Particularly strong in the first quarter was the gain in manufacturing employment
which increased at a 7.7 percent annual rate from the fourth quarter. Among
industries registering the most rapid rates of increase in employment were electrical
equipment (20.8 percent), lumber arid furniture (8.8 percent), paper and printing (8.4
percent), food and kindred products (7.1 percent), and chemicals (6.5 percent).
Nonmanufacturing employment, on the other hand, increased at less than a 2 percent
rate, although this slowdown appears to have been the result of temporary factors.
For example, the number of construction jobs in five CMV states fell slightly in the
first quarter, reflecting layoffs during the cold weather. In addition,
nonmanufacturing employment in Kentucky, a large coal producing state, was down at a
5.7 percent annual rate in the first quarter, probably reflecting the secondary
effects of both unfavorable weather and the coal strike.
With the rapid increases in employment during the current expansion, the
unemployment rate has declined in the CMV region. The first quarter rate of 5.8
percent for the CMV states was below the U.S. rate of 6.2 percent and well below the
8.9 percent recorded in the second quarter of 1975. 1/
Reflecting the generally strong pace of housing activity in the region,
mortgage loans outstanding at savings and loan associations in the CMV states
registered an 18 percent annual rate of gain in the first quarter, about the same rate
of increase as in the previous year. However, reflecting higher yields on market
instruments, deposits at savings and loan institutions increased at only a 10 percent
rate in the first quarter compared with a 17 percent increase in the previous year.
Higher crop and livestock prices in recent months have significantly
improved the income prospects for farmers in the CMV region. Prices of all crops and
livestock in the first quarter were 9.5 percent above the average in the third quarter
of 1977. As a result, farm cash receipts have shown considerable improvement in the
region, registering a 27 percent rate of increase from the third quarter of 1977 to
the first quarter of 1978.

1/

Recent data revisions have raised unemployment rates in some states and cities from
levels previously published. For example, the average rate in the CMV states for
the last three quarters of 1977 was revised from about 5.5 percent to 6 percent.




3

INCOME AND TRADE INDICATORS

PERSONAL INCOME
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100




1971-100

220

180
140
100
60

4

INCOME AND TRADE INDICATORS

PERSONAL INCOME
SEASONALLY ADJUSTED

COMPOUNDED ANNUAL
RATES OF CHANGE------

INDEX. 1971-100_____

UNITED STATES
CMV STATE SUMMARY
ARKANSAS
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

3RD
QUARTER
1977

4TH
QUARTER
1977

178.4
185.3
201.6
193.5
190.6
169.9
190.5

184.8
193.2
207.4
203.8
200.5
176.4
198.4

3RD QTR 1977
TO
4TH QTR 1977
_____________

4TH QTR 1976
TO
4TH QTR 1977

11.9
14.0
14.2
15.9
15.6
12.8
13.3

15.0
18.2
12.0
23.0
22.5
16.2
17.8

STATE SUNNARY-PERSONAL INCONE
CONFOUNDED ANNUAL RATES OP CHANGE
TERNINAL_________ __________________________________________ INITIAL QUARTER________ __
QUARtER
1-73 2-73 3-73 4-73 1-74 2-74 3-74 4-74 1-75 2-75 3-75 4-75 1-74
4.4

2-73
3-73
4-73

1971*100
2-74

3-74

4-74

1-77

2 -7 7

3 -7 7

123.9

_

6«6

.

125.9

9*4

10.9

15.4

1-74 __9,1

10.0

11.8

8.2

1 3 0 .5

133.1

2-74

9.3

10.0

11.2

9.1

10.0

3-74

9*4

10.2

11.1

9.7

10.5

11.0

136.3
1 3 9 .9

4-74

0.3

8.4

9.0

7.4

7.2

5.8

0.9

1-75

a.o

8.2

8.5

7.2

4.9

5.9

3.5

14Q .2

4,1

_ .142*3

2-75

0,4

8.7

9.0

8.0

7.9

7.4

4.2

9.0

12.0

3-75

9.0

9.3

9.4

8.8

8.9

8.7

8.1

10.4

12.9

13.8

4-75

9,0

9.3

9.4

8.9

9.0

8.9

8.4

10.4

11.9

11.8

1 4 4 .4

151.2-.
9.9

154.8

1-74

9.5

9.8

10.1

9.5

9.7

9.7

9.5

11.3

12.4

12.8

12.3

14.7

2-74

9.4

9.8

10.1

9.4

9.8

9.7

9.5

11.1

12.1

12.1

11.5

12.4

10.1

3-74

9.2

9.4

9.4

9.1

9.2

9.1

8.9

10.1

10.7

10.5

9.7

9.4

7.1

4.2

4-74

9.1

9.3

9.4

9.1

9.2

9.1

8.9

9.9

10.5

10.2

9.5

9.4

7.7

4.4

1-77

9.4

9.8

10.1

9.7

9.8

9.8

9.4

10.7

11.2

11.1

10.7

10.9

9.9

9.9

2-77

9.8

10.0

10.3

9.9

10.1

10.1

10.0

10.9

11.5

11.4

11.1

11,3

10.4

10.7

1 4 0 .2
1 4 4 .1

___165.8._
9.0

1 4 9 .4

1 2 .8

1 4 .8

13.0

15.0

____ 1 7 4 . 1
1 3 .3

lfll .7

3-77

9.7

9.9

10.1

9.8

9.9

9.9

9.8

10.7

11.1

11.0

10.7

10.8

10.2

10.2

1 1 .8

1 2 .7

1 0 .7

8 .2

4-77

10.2

10.4

10.4

10.3

10.4

10.5

10.4

11.3

11.8

11.7

11.5

11.7

11.3

11.5

13.0

14.0

13.2

13.1

18.2

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-74

2-74

3-74

4-74

1-77

2-77

3-77




1 8 3 .3
1 9 3 .2

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

5

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
INDEXt 1971-100
1971-100
350

1971-100
350 ---------- 1i
----------

- u.s. ___
SUSA'S
270
190

— 270
190

-

110
30

110

1111ti i.i L-ii. till i-li.iL-i- 11 ll.i.l.A.,1,Lu., nii-i-Lid-i-i l111.1l-illJ-l■J11 11 1.11.11.1... iti
1972

1973

1974

1975

1976

1977

1978

i.ii

30

L IT T L E ROCK - NORTH L IT T L E ROCK: AR

350
270
190

350

-

-- $

—

110
30

270
190
110

■i1iilii1it 1 111111I111
1973
1972
LATEST DATA PLOTTEDi FEBRUARY




1 1111111111 1 1111111111 .■I.ili.I..

1974

1975

1976

1977

.. 1.. i.. i.7
1978

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

30

INCOME AND TRADE INDICATORS

DEPARTMENT STORE SALES
SEASONALLY ADJUSTED
__________ INDEXi 1971-100________

UNITED STATES
CMV METROPOLITAN SUMMARY
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
ST. LOUIS: M O - 1L
SPRINGFIELD: MO

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING FEBRUARY 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
YEAR AGO.

DECEMBER
1977

JANUARY
1978

FEBRUARY
1978

187.7
179.5
280.0

171.3
155.5
244.6

178.1
168.2
265.1

11.5
-15.3
“20.0

15.3

294.7
168.8
167.6
168.0
199.7

251.8
124.2
140.5
157.2
188.6

274.5
152.5
156.0
161.2
181.5

-7.6
“27.4
-20.8
-9.9
0.8

*
*

*
*

*
*
*

XDATA NOT COMPARABLE, SEE INCOME AND TRADE INDICATORS, PAGE 2

U.S. DEPARTMENT STORE SALES
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

INITIAL QUARTER
1-73

2-73

3-73

4-73

2-73

6.4

3-73

5.1

2.0

4-73

6.1

5.0

0.2
10.1

1-74

2-74

3-T4

4-74

2-75

3-75

____ __1971*100
4-75

1-76

2-76

3-76

4-76

1-77

2-77__3-77
L2Q.5
121.1
1 2 3 .5

1-74

7.1

6.7

9.1

2-74

6.7

6.3

7.0

7.6

3-74

5.3

5.3

6.1

5.4

3.2

1.3

.4^74

3.0

3.1

3.3

2.1

-0.4

-3.1

-7.3

1—73__ 3.»

3.3

3.5

2.6

0.0

-0.6

-1.6

4.5

5.7

5.4

5.9

5.5

4.7

4.5

5.6

12.0

2-75

1-75

126.5
5.2

128.1
1 2 8 .5
1 2 6 .1
1 2 7 .5

21.6

1 3 3 .9

3-75

6.0

5.7

6.2

5.9

5.3

5.3

6.3

11.3

14.8

8.3

4-75

6.0

3.7

6.1

5.9

5.3

5.3

6.2

9.0

11.7

7.0

5.7

1-74

6.3

6.2

6.6

6.4

5.9

6.1

6.9

10.0

11.4

8.1

8.1

10.5

1 3 8 .5

2-76__ 6.0

5.0

6.2

6.0

5.6

5.6

6.3

0.7

9.6

6.7

6.2

6.5

2.6

3-76

6.4

6.3

6.6

6.5

6.1

6.2

6.9

9.1

9.9

7.6

7.5

0.1

6.9

11.4

4-76

7.2

7.1

7.5

7.4

7.2

7.4

0.1

10.2

11.1

9.4

9.6

10.6

10.7

14.9

18.6

1-77

7.1

7.0

7.4

7.3

7.1

7.3

7.9

9.0 _ 10.4

8.9

9.0

9.7

9.5

11.9

12.2

2-77

7.2

7.1

7.1

7.4

7.2

7.4

0.0

9.6

10.2

-8*9__ 8*9 _ 9*3

__7*3.

0*5

3-77

0.2

0.2

0.6

0.6

0.5

0.7

9.4

11.0

11.7

10.7

11.0

11.7

12.0

13.9

14.6

13.3

17.0

26.2

4-77

9.4

9.4

9.9

10.0

10.0

10.3

11.1

12.0

13.5

12.8

13.3

14.3

14.0

17.0

18.1

18.0

22.3

29.8

33. 5

1-73

2-73

3-73

4-73

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77




__________ 1 6 2 . 9

146*0
1 5 3 .2

6.1

155.5
150*7
1 6 8 .2
1 8 0 .8

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

7

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS11SEASONALLY ADJUSTED
INDEX: 1974-100
1974-100

1974-100

KENTUCKY

MISSOURI

225
225
175
175 —
125
125
V.
75
75
i
i
_1
_1
_1
_1
_1
_1
_1
_l
1
.
.
n
.
i
■
.
i
.
.
.
.
1
.
.
1
■
■
1
■
■
■
■
1
■
.
1
.
.
1
■
■
1
1
1
«
»
1
»
1
1
«
_1
_
25
25

TENNESSEE

225
175 —

125
75
25

v / r \ ^
ii 1i i1i i 1i i . . 1. . 1 ,. 1. . i i1 ii 1 ii1 ii
1975
1976
1974
LATEST DATA PLOTTED: FEBRUARY




f

225
175
/
^
i\ A / V
125
75
S
F
. l\ . 1 . , 1 . . 1 1 1 1 1 1 1 l 1 l 1 25
1977

1978

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

8

INCOME AND TRADE INDICATORS

NEW PASSENGER CAR REGISTRATIONS 11
SEASONALLY ADJUSTED

__________ INDEX. 1074-100________

UNITED S TATES12IMPORTED
DOMESTICALLY PRODUCED

CMV STATE S U M M A R Y 12ARKANSAS
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING FEBRUARY 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
YEAR AGO

DECEMBER
1977

JANUARY
1978

FEBRUARY
1978

129.9

110.7

118.6

-2.3

-2.4

157.1
124.8

135.7
107.4

135.7
114.1

14.6
-4.7

15.4
-5.2

133.1

145.5

151

91.4

33.6

N.A.

. N.A^
148.2
125.9
114.8
144.6

13471
120.3
110.2
44.7

47.1
29.0
14.4
48.3

151.2
106.8
161.1
110.8

N.A.

m e

195,4*
187.6
106.2
183.0

11 USED WITH THE PERMISSION OF R. L. POLK AND COMPANY
12.NEW PASSENGER CAR RETAIL SALES
INSTATE SUMMARY EXCLUDES ARKANSAS
JKESTIMATED




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

9

INCOME AND TRADE INDICATORS




FARM CASH RECEIPTS
SEASONALLY ADJUSTED
INDEX: 1971-100

ARKANSAS

360
280
200
120
40

360
280
200
120
40

10

INCOME ANO TRADE INDICATORS

FARM CASH RECEIPTS
SEASONALLY ADJUSTED
__________ INDEX. 1971-100______
JANUARY
1978

UNITED STATES
CMV STATE SUMMARY
ARKANSAS
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

FEBRUARY
1978

MARCH

1978

___________

17.4
8.7
24.2
-7.5
-10.7
20.5
103.8

197.5
188.5
225.1
200.1
171.5
197.4
210.7

190.6
200.7
191.9
207.8
177.0
199.7
210.3

191.0
193.2
219.6
173.0
165.8
189.8
219.2

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A

YEAR AgQ ■

4.5
2.6
15.2
-22.2
8.9
15.5

-8.5

STATE SUMMARY-FARM CASH RECEIPTS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

___INITIAL QUARTER
1-7*

2-7*

*—7*

1-75

?-73

3-73

4-73

1-76

2-76

3-70

197}«100
4-76

1-77

2-77

3-77

4-77

152.5

2-7*

-30.1

3—7*

-24.0

-6.6

*—7*

-0.3

26.0

1*73

3-7*

.

149.9

-19.4_-12.0 -1*.J> -57.2

130.5

70.1

171.2

.2-75

_-3.0

7.3

12.5

-0.6

95.2

3-73

5.1

16.0

23.3

11.0

70.0

63.0

*-73

-*•0

2.3

*•2

-7.0

19.0

-7.1 -47.3

1-76

0.3

7.4 _10.0

0.0

24.0

7.6 -12.0

___ _ .___________ _____

.

157.0

**.l

172.9

2-76

3.2

12.*

15.*

0.1

30.1

-1.9

3.2

*•5

-2.5

11.0

0.0 -11.6

*-76

0.9

5.9

7.*

1.*

14.7

5.0

-3.9

11.7

2.6 —16.2

34.2

1-77

3.2

0.2

9.0

*•5

16.9

0.6

1.4

15.6

9.4

33.6

2-77

0.9

5.1

6.3

1.*

11.5

*•0

-2.5

0.0

3-77

0.1

3.0

4.0

0.2

9.1

2.3

-3.5

5.2

-0.2

*-77

2.7

6.3

7.6

3.6

12.2

6.2

1.2

9.0

1-73

3.1

6.0

7.7

3.9

11.9

6.4

1.9

3-7*

4—74

1-73

3-75

1-74

2-7*




2-75

163.7

105.2

3-76

17.6

.....

5.3

*0.0

53.7

192.5

5.0 -10.4 -47.7

1.9

-2.3

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

-0.0 ll.l

143.7
174.2

109.2

32.9
1.0 -23.2

______

-0.5

5.3

5.0

-0.0

12.7

7.9

0.6

15.2

40.2

9.6

6.0

0.5

12.0

0.0

2.6

13.0

26.9

0.7

4—75

1-76

2-76

3-70

4-70

1-77

2-77

3-77

4-77

-2.9 -17.1 -10.4

177.1-

172.3
190.1
194.1

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100

1971-100




12

EMPLOYMENT INDICATORS

TOTAL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX, 1971-100________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHt AR-OK
LITTLE ROCK-NORTH
LITTLE ROCKs AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-1N
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END INC MARCH 1978
FROM SAME
FROM PREVIOUS
MONTHS A
S MONTHS
YEAR A60

JANUARY
1978

FEBRUARY
1978

MARCH

117.4
117.7
113.4
124.2
131.3

117.6
117.8
112.9
125.2
131.2

117.9
118.1
113.0
125.5
131.4

4.2
2.8
IK
4.9
18.7

4.4
3.6
#
5.8
5.3

129.8
116.1
119.8
119.8
111.0
124.1
113.3
111.0
129.4
115.5
106.3

131.5
116.8
121.6
119.6
113.3
125.4
112.5
109.3
128.1
114.8
105.4

131.7
118.7

6.0
3.1
-5.1
9.9
1.1
10.2
6.3
IK
2.2
2.5
-4.1

6.1
5.7
3.9
2.3
3.8
4.9

1978

122.7
120.1
113.9
125.7
112.9
110.0
129.2
114.3
103.1

2.3
IK
2.4
3.1
1.4

* FIRST QUARTER DATA NOT COMPARABLE WITH PREVIOUS DATA

STATE SUMHARY—TOTAL EMPLOYMENT
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

INITIAL QUARTER
1-74

2-74

3-74

4-74

2-74

4.1

3—74

_2.2

0.4

4-74

-0.6

-2.9

—6.0

1-75

-3.0

—5.3

-8.0

-9.9

1-75

2-75

3-7?

4-75

1-76

2-76

3-76

1971*100
4-76

1-77

2-77

3-77

4-77

....... .

1 1 0 *2
108 . 5
1 0 5 .7

2-75

-2.7

-4.4

-5.9

-5.8

-1.5

3-75

-1.5

-2.6

-3.3

-2.3

1.7

4-75

-0.4

-1.1

-1.4

-0.2

3.3

5.8

6.5

1-76

0.5

0.1

0.0

1.3

4.3

6.3

6.9

1 0 5 .3

5.0

1 0 6 .6
1 0 8 .3

7.2

1 1 0 .2

2-76

0.8

0.4

0.4

1.5

4.0

5.4

5.5

5.0

2.9

3-76

0.7

0.3

0.3

1.2

3.2

4.2

3.9

3.1

1.1

4-76

0.9

0.6

0.6

1.5

3.3

4.1

3.9

3.2

1.9

1.4

3.7

1-77

1.4

1.2

1.3

2.1

3.8

4.5

4.5

4.0

3.3

3.4

5.5

7.3

2-77

1.6

1.6

1.7

2.5

4.0

4.7

4.7

4.4

3.8

4.1

5.7

6.7

3-77

1.7

1.5

1*6.

2.3

3.6

4.2

4.1

3.8

3.2

3.3

4.3

4.6

3.2

0.3

4-77

*•*

1.8

1.9

2.6

3.8

4.3

4.3

4.0

3.5

3.6

4.5

4.7

3.9

2.8

5.3

1-78

2.0

1.8

1.9

2.6

3.7

4.2

4.1

3.8

3.4

3.5

4.2

4.3

3.6

2.8

4.0 __2.8__

1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77




...

1 1 1 .0

-0.7

1 1 0 .8
1 1 1 .8
1 1 3 .8

6.1

1 1 5 .5
1 1 5 .6

3-77

1 1 7 .1

__ 1 1 7 . 9

4-77

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF S T . LOUIS

13

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT

PERCENT
12

--------------J--------------

- U.3.

STATES

9

12

____
—

-

6

.

.

_____

_

6

A

l)

\

t1

11

1

3

.

!•

3

_
1 1 1 ■ 1 1 1 1 1 1 1 i a 1 i i 1 t i 1 i i 1 1 1 1 1 1 1 I 1 1 1 i i 1 i i 1 i i 1 i a a i 1 a a 1 a a 1 a a a a 1 a a 1 a a 1 a a a a 1 a i 1a a 1a a

1972




1973

1974

1975

1976

1977

1978
12
H

6

3
0

12

9
6
H

o
12

9
6
H
0
12

9
6
H
0
12

9
6
— I
0

14

EMPLOYMENT INDICATORS

UNEMPLOYMENT RATE
SEASONALLY ADJUSTED
PERCENT
MONTHLY AVERAGE
d MONTHS ENDING

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

-JANUARY
1978

FEBRUARY
1978

MARCH
1978

6.3
5.9
5.6
6.4
5.9

6.1
5.9
5.8
6.2
6.4

6.2
5.5
5.3
5.6
5.8

6.2
5.8
5.6*
6.1
6.1

6.6
5.9
5.9
6.6
6.7

5.3
7.8
5.2
4.6
4.9
7.5
5.8
6.1
4.8
5.8
5.8

4.4
7.4
5.9
4.4
5.2
6.8
5.9
6.5
4.6
5.3
5.7

4.2
7.1
4.9
4.0
4.4
6.5
5.6
6.0
4.1
5.6
5.4

4.6
7.4
5.4
4.3
4.8
7.0
5.6
6.2*
4.5
5.6
5.6

4.5
5.3
4.7
4.8
5.1
7.7
5.7
6.5
5.1
5.9
5.9

MARCH
1978

DECEMBER
1977

C I V I L IAN LABOR FORCE
SEASONALLY ADJUSTED
______ THOUSANDS OF PERSONS_____
JANUARY
1978

INI TED STATES
IMV STATE SUMMARY
:m v m e t r o p o l i t a n s u m m a r y
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

FEBRUARY
1978

MARCH

1978

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
YEAR AGO

99106.9
7644.0
2395.0
938.3
83.2

99093.0
7654.0
2390.4
944.5
83.6

99413.9
7640.4
2380.1
940.9
83.3

180.6
36.4
1511.5
136.7
397.7
995.5
2262.2
1082.2
99.3
1944.3
378.6

181.2
36.5
1545.3
136.1
407.4
998.8
2250.3
1070.9
98.1

181.3
37.0
1543.3
136.2
406.3
997.7
2248.1
1071.7
98.4

-0.1

2.6

6.9
6.4
*
-0.4

4.6
1.9
*

1924.0
374.3

1920.5
365.3

-5.2

2.4
2.3

15.8

3.1
3.1
*
5.1
4.8

6.4
14.2
-2.7
7.7

5.4
6.7
4.0
1.4

*

2.8

1.0

2.2
2.2

0.4

IRST QUARTER DATA NOT COMPARABLE WITH PREVIOUS DATA




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

15

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS
MANUFACTURING

AVERAGE WEEKLY HOURS WORKED
MANUFACTURING

SEASONALLY ADJUSTED

SEASONALLY ADJUSTED
HOURS PER WEEK

DOLLARS PER HOUR




16

EMPLOYMENT INDICATORS

AVERAGE HOURLY EARNINGS - MANUFACTURING
SEASONALLY ADJUSTED
_________ DOLLARS PER HOUR_______
JANUARY
1978

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

FEBRUARY
1978

MARCH

1978

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

5.90
5.26
6.35
4.39
4.64

5.95
5.28
6.39
4.52
4.77

5.97
5.34
6.47
4.55
4.75

9.3
8.9
5.2
5.6
7.2

8.9
9.4
8.3
7.4
9.3

5.34
5.76
6.05
6.81
4.36
5.92
6.75
5.02
5.02
5.56

5.22
5.69
5.96
6.79
4.42
6.00
6.82
5.02
5.00
5.65

5.23
5.74
6.01
6.89
4.48
6.11
6.91
5.09
5.01
5.68

16.3
51.2
10.9
8.0
14.5

8.8
15.9
10.1
9.3
9.7

1.1
1.1
-0.8
15.4
9.3

8.9
8.1
6.5
10.2
7.8

AVERAGE WEEKLY HOURS WORKED - MANUFACTURING
SEASONALLY ADJUSTED
_________HOURS PER WEEK_________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR




MONTHLY AVERAGE

3 MONTHS ENDING____

JANUARY

FEBRUARY

1978

1978

MARCH
1978

MARCH
1978

39.6
37.7
38.9
36.3
35.6

40.0
40.5
41.0
40.4
39.5

40.5
40.4
40.8
40.3
38.9

40.0
39.5
40.2
39.0
38.0

40.5
40.4
41.0
40.2
39.6

33.3
37.5
36.4
38.1
38.8
39.6
40.5
38.1
36.7
38.3

39.8
41.4
40.9
41.1
40.3
39.8
41.1
39.5

40.6
41.0
40.6
41.2
40.6
40.6
41.4
38.6
40.3
40.3

37.9
39.9
39.3
40.2
39.9
40.0
41.0
38.7

40.3
42.2
39.9
40.5
40.0
40.7
41.6
39.2
40.7
40.8

40.6
40.6

39.2
39.7

DECEMBER
1977

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

17

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED INDUSTRIES*
CMV STATE SUMMARY
SEASONALLY ADJUSTED
INDEX* 1972-100

1972-100
140

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS

120 —

1972-100
140

__

— 120

100

100
80

80
60

111111J111.1 ii.l 11 l.iiL-ii -L-L1-l-J-1L-L.Ll.l- 11 11 111 11J1 Jill 11 1J-l—l—L-

11i.1,11itJ ti- 60

CONSTRUCTION
140

140
—

120 —

120

100

100

80

80

60 7i 111h 1111 11111 Li iL-ii. 1111i.l 11 1j i u 1ixi j-i-Lui- ..Im Im Im ,a,i Li-i LiaJ.i i.. 1 1 1n I n 111

60

ELECTRICAL EQUIPMENT
140
100

H

80
60

FOOD AND KINDRED PRODUCTS
140

140

120

120

100

100
80

80
60

iiIiiJiil.ii iiIi111 111




Im I.i I

IIIIII»IIM

III III III I

III II II

I I III I ti.lt

60

LUMBER AND FURNITURE

140
120

100
80
60

18

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT - SELECTED INDUSTRIES*
SEASONALLY ADJUSTED
__________ INDEX. 1972-100________
JANUARY
1978

FEBRUARY
1978

MARCH
1978

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH I07B
FROM PREVIOUS
FROM SAME
S MONTHS
MONTHS A
y e a r AGO

CMV STATE SUMMARY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER

114.8
107.1
109.7
106.4
100.2

115.3
108.6
110.9
106.6
100.3

114.5
109.7
110.6
106.5
100.7

6.5
-0.7
20.8
7.1
8.8

2.8
9.5
9.0
3.6
7.5

95.2

96.3

95.6

5.2

1.4

ARKANSAS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

109.4
138.8
120.2
95.1
128.2

111.4
139.3
120.2
95.5
129.1

117.6
139.4
119.0
97.0
131.2

3.3
44.8
17.8
5.6
13.7

9.9
14.7
10.4
4.2
8.4

97.3

96.5

97.0

-2.4

-5.1

KENTUCKY
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
NONELECTRICAL MACHINERY
TEXTILE, APPAREL, AND
LEATHER

129.6
114.8
93.9
98.1
121.4

130.2
115.0
98.6
99.0
122.5

129.6
115.7
99.5
96.4
122.6

8.4
-9.2
36.0
0.4
-6.0

7.0
20.8
8.6
-3.5
0.2

96.4

96.4

94.5

6.1

-0.3

121.4
137.3
111.1
104.5

121.0
137.1
106.4
103.6

120.8
137.3
107.9
106.0

13.6
26.0
-5.7
16.9

8.7
15.5
3.1
5.5

104.4
134.1

103.2
132.8

103.4
130.1

4.0
-19.3

5.3
-0.9

106.0
101.4
96.8
99.7

105.4
101.8
97.8
100.9

103.5
102.9
97.1
101.5

-4.1
2.4
7.3
7.5

5.1
3.3
3.8
0.9

86.5
109.6

87.8
105.1

88.2
111.1

10.7
7.7

-0.1
5.8

109.8
95.2
112.0
100.6
110.9

109.7
100.4
115.7
100.1
111.5

109.7
102.6
115.3
99.6
112.6

6.4
2.9
11.2
2.4
5.9

2.4
6.5
2.8
10.6
1.9

123.4

125.6

124.1

5.7

2.3

MISSISSIPPI
CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT

MISSOURI

CONSTRUCTION
ELECTRICAL EQUIPMENT
FOOD AND KINDRED PRODUCTS
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER
TRANSPORTATION EQUIPMENT

TENNESSEE
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
CONSTRUCTION
FOOD AND KINDRED PRODUCTS
LUMBER AND FURNITURE
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

XALL CATEGORIES ARE MANUFACTURING EXCEPT CONSTRUCTION.




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

19

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT

NONMANUFACTURING EMPLOYMENT

SEASONALLY ADJUSTED
INDEX: 1972-100
1972-100
150

1972-100




130
110

90
70

M IS S IS S IP P I

150
130
110

90
70
150
130
110

90
70
150
130
110

90
70
20

EMPLOYMENT INDICATORS

MANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX. 1972-100________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK. AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE. IN-KY
LOUISVILLE. KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS. MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENOINC MARCH 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1978

FEBRUARY
1978

MARCH
1978

104.8
107.7
97.3
118.2
128.7

105.3
108.5
98.0
118.0
128.7

105.3
108.8
101.1
118.2
128.4

6.3
7.7
4.2
10.5
25.1

4.0
5.6
2.1
7.0
4.8

112.4
107.6
107.5
104.8
90.8
114.9
101.2
93.9
97.3
107.2
99.6

112.0
106.2
110.5
104.8
98.4
114.2
100.7
93.2
100.7
108.2
100.1

111.4
106.0
110.5
105.2
101.0
114.7
101.9
97.5
100.8
108.0
100.0

7.9
-10.2
12.2
24.0
-5.6
6.9
5.3
3.9
6.7
7.4
5.4

7.4
4.4
8.1
3.3
4.3
5.6
3.1
-0.2
-2.2
5.7
4.8

NONMANUFACTURING EMPLOYMENT
SEASONALLY ADJUSTED
__________ INDEX. 1972-100________

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE. IN-KY
LOUISVILLE. KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR




COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
YEAR AGO

JANUARY
1978

FEBRUARY
1978

MARCH

116.6
119.0
112.5
125.2
126.6

117.2
119.2
113.1
126.3
125.6

117.9
119.9
113.1
127.2
125.4

3.8
1.7
1.8
4.6
9.4

3.9
3.7
2.3
5.6
2.8

125.3
116.7
121.4
115.7
112.8
123.9
113.9
107.6
125.4
120.0
114.3

125.2
117.9
122.1
116.4
118.1
124.7
113.1
106.8
125.4
120.0
113.9

125.3
119.6
123.3
117.3
119.1
124.8
113.2
106.9
127.3
120.7
113.9

7.3
7.1
-5.7
-7.8
2.1
7.4
3.2
1.9
2.6
3.7
2.1

3.6
5.0
3.6
-0.3
5.7
5.4

1979

2.5
0.8
2.2
3.9
2.2

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

21

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100
1972-100




1972-100

KENTUCKY

22

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
INDEX: 1972-100
1972-100
130

1972-100
130 ---------------------------- !----------------------------

120

-

U.S.
_______
SUSA'S

120

-

110

110

100

100

90

1 1 1 I I 1 M 1 1 1 ■i i-l i i..Li 1 1 j i

1972




1973

1974

■ ■ i . ■ i ■ ■ i ■ ■ ■ » i »■ i ■ ■ i ■.

1975

EVANSVILLE:

23

1976

IN-KY

1 11111 lll-l.i- ii l u l l i l n

1977

1978

90

EMPLOYMENT INDICATORS

PAYROLL EMPLOYMENT
SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END IN6 MARCH 1978
FROM PREVIOUS
FROM SAME
MONTHS A
3 MONTHS
YEAR AGO

INDEXt 1972-100________
FEBRUARY
1878

MARCH

113.6
115.6
108.2
122.9
128.0

114.0
116.1
109.0
123.5
126.5

114.7
116.5
109.7

122.6
114.2
117.5
111.5
105.2
120.8

122.5
115.1
118.7
111.8
111.8

110.3
103.7
117.5
115.6
111.3

109.8
102.9
118.3
116.0
111.0

1976

CM
•

CM

UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR

JANUARY
1978

124.2
126.4

4.3
3.5
2.6
6.0
15.5

3.9
4.1
6.0
3.5

122.6
116.3
119.8
112.5
113.2
121.5
110.2
103.9
119.8
116.4
110.9

7.2
2.1
>1.7
-0.7
-0.4
6.5
3.3
2.4
2.7
4.6
2.6

4.3
4.6
3.8
0.9
5.3
5.4
2.6
0.7
1.1
4.5
2.7

2.2

STATE SUNNARY-TOTAL PAYROLL ENPLOYNENT
CONPOUNDED ANNUAL RATES OF CHANCE
TERMINAL
QUARTER

INITIAL QUARTER
1-74

2-74

3-74

4-74

1-75

2-75

5-7?

2-74

2.3

3-74

1.1

0.0

4-74

-0.7

-2.2

-4.4

1-75

-3.0

-4.7

-6.9

-9.4

2-75

—2.7

-3.9 ..— 5.2

-5.5

3-75

*1 #6

-2.3

-2.9

-2.4

1.3

4.3

4-75

-0.5

-0.9

-l.l_ -0.3

3.0

5.3

6.2

4-75

1-7*

2-76

3-76

1972*100
4-76

1-77

2-77

3-77

4-77
107.9
1 0 7 .9
1 0 6 -7

104.1
-1.5

103.7
104- a

______

0.3

0.4

1.3

4.2

6.2

7.2

8.1

2-76

0.9

0.7

0.8

1.7

4.1

5.5

5.9

5.7

3*4

3-76

0.9

0.7

0.8

1.5

3.5

4.5

4.6

4.0

2.0

4-76

0.9

0.8

0.9 _ 1.6

3.3

4.1

4.0

3.5

2.0 __ 1.3___ 1.8

1-77

1.3

1.2

1.3

2.0

3.5

4.2

4.2

3.8

2*5

2.6

3.5

2-77

1.6

1.6

1.7

2.4

3.8

4.4

4.5

4.2

J.4

3.4

l._3_ 5*5

5.9

3-77

1.6

1.6

1.7

2.3

3.5

4.1

4.1

3.8

3*0

3.0

3.6

4.1

3.6

1.4

4-77

1.9

1.9

2.0

2.6

3.7

4.3

4.3

4.0

9*4

3.4

4.0

4.5

4.3

3.6

5.8

1-78

2*0

2.0

2.1

2.6

3.7

4.2

4.2

4.0

3.4

3.5

3.9

4.3

4.1

3.6

4.6

3.5

1—74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

4-76

1-77

2-77

3-77

4-77

...1-76_____ 0.6




1 0 6 .4

108.5
1 0 9 .4

0.7 _______

109.6
iio.i
5.2

t ii .s
113.1113.5
1 1 5 -1
1 1 6 -1

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

PRODUCTION AND PRICE INDICATORS

Farm Land V a lu e s
1967=100

1967=100

FARM LAND VALUES
Index 1967aaoo
March

February

February

February
197J

Compounded Annual
Rates of Change
197®
19711
to”
to
1970
1970

_ iiz f

JL2Z>

United States

187

213

(
242

283

308

8.8

15.5

CMV State Summary

185

208

243

302

338

11.9

17.8

186
173
161
182
182
207
206

191
209

213
260
244
239
205
241
251

238
353
321
281
217
284
275

261
390
361
317
249
325
307

9.7
10.5
12.5
12.8
14.7
14.4
11.6

10.4
24.8
22.5
15.7
11.6
15.2
12.9

Arkansas
Illinois
Indiana
Kentucky
Mississippi
Missouri
Tennessee




200

203
204
214
236

25

PRODUCTION AND PRICE INDICATORS

ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
INDEX:

1971-100

CHEMICAL, PETROLEUM, AND RUBBER PRODUCTS
140

120
100
80
60

T E X T IL E , APPAREL, AND LEATHER

140

120
100
H

80
60

LATEST DATA PLOTTED: MARCH




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

26

PRODUCTION AND PRICE INDICATORS

ELECTRIC POWER CONSUMPTION
SEASONALLY ADJUSTED
__________ INDEXi 1971-100________

COMPOUNDED ANNUAL
RATES OF CHAN6E
3 MONTHS END INO MARCH 1070
FROM PREVIOUS
FROM SAME
MONTHS A
3 MONTHS
JTEA1LAML

JANUARY
1978

FEBRUARY
■ 1978 .

MARCH
.1978.

120.7

115.7

115.4

-8.7

-0.8

118.0

117.7

113.9

-3.7

7.0

118.6

117.9

114.7

2.4

8.4

DURABLES
ELECTRICAL MACHINERY
FABRICATED METALS
LUMBER AND FURNITURE
NONELECTRICAL MACHINERY
OTHER DURABLES
PRIMARY METALS
STONE, CLAY, AND GLASS
TRANSPORTATION EQUIPMENT

125.9
101.2
HI.4
190.3
139.9
139.4
125.2
112.0
115.3

126.1
101.8
148.7
187.0
134.4
148.7
122.7
118.7
116.6

116.7
97.9
132.7
221.3
133.8
133.1
115.4
92.8
107.7

-4.7
-1.6
10.3
37.6
-15.4
12.9
-14.1
-12.0
-5.8

9.6
-1.0
5.0
76.2
0.7
14.2
7.0
8.3
0.7

NONDURABLES
CHEMICAL, PETROLEUM, AND
RUBBER PRODUCTS
FOOD, BEVERAGES AND
TOBACCO
PAPER AND PRINTING
TEXTILE, APPAREL, AND
LEATHER

115.6

114.5

114.3

5.8

8.0

115.4

113.6

113.7

2.9

11.1

124.3
117.5

120.9
116.8

121.2
112.9

7.9
16.8

3.1
-1.3

90.1

91.6

85.1

-26.2

-9.8

100.3

119.5

95.3

-87.4

-41.2

UNITED STATES
TOTAL MANUFACTURING AND MINING
EIGHTH DISTRICT
TOTAL MANUFACTURING AND MINING
MANUFACTURING

MINING




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

27

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS LET*
NOT SEASONALLY ADJUSTED
INDEX: 1974-100

R E S ID E N T IA L B U IL D IN G




NONRESI DENT IAL B U IL D IN G

330
250
170
H

90
10

28

PRODUCTION AND PRICE INDICATORS

VALUE OF CONSTRUCTION CONTRACTS LET*
NOT SEASONALLY ADJUSTED
INDEX: 1974-100

TOTAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITHi AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
RESIDENTIAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS
NONRESIDENTIAL BUILDING
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR-OK
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
EVANSVILLE: IN-KY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI - EAST
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TENNESSEE - WEST
MEMPHIS: TN-AR-MS

COMPOUNDED ANNUAL
RATES OF CHAN6E
1ST OTR 1977
TO
1ST OTR 1978

1ST OTR 1976
TO
1ST OTR 1977

4TH
QUARTER
1977

1ST
QUARTER
1978

M3* 1
161.8
130.7
171.6
207.7

133.6
136.3
122.7
174.2
162.7

24.1
20.5
13.6
33.9
-22.6

25.2
23.6
30.2
36.9
191.0

163.2
85.3
166.8
273.7
96.7
225.8
137.2
141.8
232.2
95.1
82.4

155.6
49.6
143.6
161.2
139.7
155.0
100.6
111.5
212.5
97.5
90.1

31.3
-31.4
13.6
-19.5
14.1
32.0
7.0
25.7
16.4
17.8
18.1

19.1
55.0
22.3
24.2
58.3
16.7
14.2
-3.5
34.2
33.0
45.4

173.7
183.3
161.2
216.7
210.7

160.4
185.7
161.9
225.8
205.0

20.7
37.7
26.1
36.7
15.3

38.2
23.3
23.4
39.0
90.7

177.6
200.2
180.2
294.2
112.6
189.4
179.0
162.1
328.6
136.5
131.1

150.5
113.9
185.1
194.9
181.1
205.8
149.3
150.6
267.8
147.8
133.6

6.6
23.1
42.3
13.5
87.2
53.4
27.5
25.6
3.9
17.6
6.8

25.7
17.3
12.8
-0.1
21.2
24.9
9.5
3.6
21.8
45.7
56.9

112.3
137.7
100.5
112.8
197.2

106.6
80.7
83.8
106.9
82.4

29.8
-6.8
-4.6
26.7
-68.7

8.4
21.3
41.7
31.9
703.3

142.7
38.8
150.9
250.1
80.1
272.1
98.9
123.2
128.2
55.4
41.1

163.1
23.5
94.4
122.5
96.7
90.3
55.9
75.7
152.8
49.1
53.4

89.5
-63.3
-22.8
-47.4
-35.1
7.0
-22.1
25.9
50.4
18.3
52.1

6.1
90.9
36.9
56.4
99.4
-8.2
19.9
-14.3
86.0
6.1
19.2

KUSED WITH THE PERMISSION OF DODGE CONSTRUCTION POTENTIALS, MCGRAW-HILL INFORMATION SYSTEMS
COMPANY
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS



29

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
INDEX: 1971-100
1971-100
250 -------------------- !1
-

190

1971-100
250

O.S.
_____
STATES

—

130

190
130
70

10

,i . 1.1 i -Lj i J_p J■i.ii-i.i-LuJL.i i. 1 1.1 1 l.i 1 i l l I- . ■ l . ■ l . ■ l . ■

1972




1973

1974

1975

MISSOURI

m

I

m

I.

i

1976

I..

i i l i . l . d n

1977

1i l l l L llI

1978

j jL

10

250
190
130
70
10

250
190
130
70
10

30

PRODUCTION AND PRICE INDICATORS

HOUSING PERMITS
SEASONALLY ADJUSTED
________ INDEX« 1971-100______
JANUARY

FEBRUARY

1978

MARCH

1978

1978...

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
_____________
YEAR AGO

UNITED STATES

78.3

81.5

87.0

-42.5

4.0

CMV STATE SUMMARY

58.2

64.3

60.9

-61.3

-6.0

CMV METROPOLITAN SUMMARY

60.4

53.3

50.2

-48.9

-0.4

ARKANSAS
LITTLE ROCK-NORTH
LITTLE ROCK: AR

59.5

68.4

73.3

-88.0

-3.5

66.4

40.5

50.0

-73.7

19.7

KENTUCKY
LOUISVILLE: KY-1N

48.8
55.0

38.7
30.5

48.2
37.9

-87.4
-74.1

-10.7
5.9

MISSISSIPPI

55.4

52.4

91.4

-57.6

24.1

MISSOURI
ST. LOUIS: MO-IL

56.1
61.6

86.9
72.6

58.2
57.6

-45.0
-71.9

-15.2
-12.9

TENNESSEE
MEMPHIS: TN-AR-MS

53.7
43.1

58.1
50.2

82.6
57.6

-19.4
120.0

3.2
10.1

STATE SUMMARY-HOUSING PERMITS
COMPOUNDED ANNUAL RATES OF CHANGE
TERMINAL
QUARTER

----- --

INITIAL QUARTER
1-74

2-74

3-74

4-74

1-75

2-75

3-75

4-75

1-76

2-76

3-76

____________ 1971*100
4-76

1-77

2-77

3-77

4-77_________

2-74

-31.3

3—74

-48.8 -61.8

4-74

-56.8 -65.8 -69.3

1-75

—42.1_ “45.3 -34.4

39.8

33.6

?-75

-20.9 -18.0

5.8

96.4 175.8

43.3

80.9 105.8

52.8
41.5
__________________3Q.9

3-75

-11.6

-7.0

16.1

4-75

-11.5

-7.7

10*JL 51.5

55.6

16.8 -11.1

1-76

—2.7

2.3

20.5

58.4

63.4

37.2

2-76

-7.1

-3.5

10.2

36.4

35.7

13.6

2.8

3-76

0.6

5.0 _19^1_ 44.6

45.4

27.9

22.2

4-76

7.9

12.9

27.4

52.1

54.0

39.7

37.1

1-77

3.9

7.9

19.7

39.3

39.2

26.2

2-77

9.1

13.4

25.1

44.0

44.5

33.3

3-77

11.9

16.2

27.5

45.1

45.6

35.7

4-77

8.1

11.6

21.2

35.9

35.6

1-78

1.4

4.0

11.7

23.4

1-74

2-74

3-74“ 4-74




53.5

4ft -?

29.7

66. ft

89.4

54.9

10.5 -35.5

49.2

35.9

15.1 105.4

58.9

22.2

30.2

18.6

45.3

22.2 -31.3

30.6

39.2

30.9

56*3

42.7

15.7

94.7

33.6

41.6

34.9

56.3

46.0

27.9

74.5

26.3

23.6

28.8

21.9

35.5

24.7

8.5

26.4

22.1

13.4

10.0

12.7

5.6

13.3

1-75

2-75

3-75

4-75

1-76

2-76

71.5

2.6 -11.7
3-76

4-76

66.1
76.9

56.4

ft6.n

1.8 -33.7

77.6

-6.0 -26.2 -49.4 -61.3
1-77

2-77

3-77

4-77

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

31

61 .2

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED

CORN

BEEF CATTLE

RICE

BROILERS
350
—

—

270
190
110

II 111 ti l l II ■II L u l u III l l l l l l l l l l l .1 l I-ll I i i l u

nliilnlu

350
270

350
—

—

/ A

^

—

110

110
■ u l i i l u l u .u L i i in l i j- . . 1.

■ t i l n l n l i i . u l i i l u l u , 11 l u l u I n i i l u l i i l . i l l l l l il l ll II

i i Iu

IilIu u l n l i i l n

350
—

—

—

—

—

/ — *

—

110
.u lij.li

lI ll

I I 11 i J I I 11 L i i Li l I n L u

V

s-

u lu lu .l

ii

110
■ illillu lll. u l i i l u l u n l n l i i l u u l i i l u l u

u lu llilli.

uliilulu

30

TURKEYS

UPLAND COTTON
350

350
—

270
190

270
190

190
30

30

MILK

TOBACCO
350
270

270
190

190
30

30

HOGS

SOYBEANS

—

—

270
190

\

110

110

30 11111111111 11111111111 11111111111 11111111111 11111111ll1
1975
1977
1978
1974
1976
LATEST DATA PLOTTEDi MARCH



nlnliilu lllllllllll lllllllllll lllllllllll lllllllllll
1975
1977
1974
1976
1978
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

32

30

PRODUCTION AND PRICE INDICATORS

PRICES RECEIVED BY FARMERS - UNITED STATES
NOT SEASONALLY ADJUSTED
COMPOUNDED ANNUAL
RATES OF CHANCE
3 MONTHS END IIM6 MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
. YEAR a go

INDEX. 1971-100

ALL FARM PRODUCTS
ALL CROPS
CORN
RICE
SOYBEANS
TOBACCO
UPLAND COTTON

LIVESTOCK AND LIVESTOCK
PRODUCTS
BEEF CATTLE
BROILERS
HOGS
MILK
TURKEYS

JANUARY
1978

FEBRUARY
1978

MARCH
1978

165.0
174.9
157.7
201.7
195.6
167.1
196.7

171.3
176.7
160.1
201.7
188.1
169.8
206.2

177.5
184.2
166.4
213.0
213.7
165.5
207.8

34.4
23.9
53.9
39.2
25.8
17.2
-8.5

3.4
-5.9
-12.7
59.8
-19.1
6.8
-24.0

157.3
128.4
165.7
244.9
173.7
173.4

166.7
137.7
176.6
267.2
173.7
169.3

173.5
151.1
180.3
261.1
173.7
172.5

47.3
71.2
56.3
84.5
9.5
-8.8

13.6
21.9
3.0
21.2
6.9
13.9

FRICES-ALL FARM PRODUCTS
....................

TERMINAL
QUARTER

_

_
1-74

2-74

_

3-74

2-74

-41.6

3-74

-12.6

30.8

4-74

-6.3

18.7

...1-75

-13.5

2-75

-8.7

2.1

3-75

-3.4

6.9

1.6

4—75

-4.7

3.3

. 1—74

-4.6

2.3

—

_____

.

____________________

4-74

1-75

2-75

3-75

CONFOUNDED ANNUAL RATES OF CHANCE
______

4-75

1971-10C

IN ITIA L QUARTER

1-76

2-76

3-76

4-76

1-77

2-77

3-77

4-77
153. 5
169.5

7.8

172-7

-1.4 -14.4 —32.0
-6.0 -12.2

156.8
13*4

161.3

—0.4

20.6

172-2

-1.4

-3.6

8.3

5.9 -12.6

-1.8

-3.6

5.2

2.6

166.5

-8.2

—3.6

165.0

2-76

-2.7

3.7

0.3

-0.9

6.9

5.3

-1.4

4.7

13.7

3-76

-3.1

2.5

-0.6

-1.8

4.5

2.8

-2.8

0.7

2.9

4-76

—5.2

-0.5

-3.5

-4.8

-0.1

-*•2

-7.4

-6.1 . -6.9 -15.8 J^3.8

1-77

-3.0

1.6

-0.9

-1.8

2.8

1.3

-2.6

-0.4

0.4

170.4
-6.9

-3.7

167.4

-2.1

156.4
25.7

2_.0

-1.3

0.7

1*4

-1.2

P.7

-0.1

-1.5

-4.7

-3.5

-3.5

-6.6

-6.5

-2.7

0.5

-0.7

-3.5

-2.2

-?tl

-4.5

-4.0

1.7

-0.3

3.0

2.1

-0.2

1.3

1.9

0.3

1.5

7.6

3.4

2.4

19.8

34.4

3—74^ 4-74

1-75

2-75 "3-75

4-75

! —76

2-76

3-76“ 4-76

1-77

2-77

3-77

4-77

2-77

-2.3

2.0

-0.3

-1.0 _ 3.2_

3-77

-4.1

-0.4

-2.6

-3.5

4-77

-3.4

0.1

-1.9

1-78

-1.4

2.1

0.3

■

1-74

2-74




_

15.8_

6*7

168.3

0.1 -10.7 -25.2

156.5

-5.2 -10.6

6.8

159-1
____

171.3

INITIAL QUARTER

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

FINANCIAL INDICATORS

METROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEXt 1974-100
1974-100

210
170

TOTAL LOANS

1------- u.s. .
SUSA'S .

—

130
—

90

SO 111«.1..1.. II1111111II xiiiiLiiJij-j i.l11111111 1!Ill-lulu.
1974

1975

1976

1977

1978

EVANSVILLE:

IN -K Y
210

—

—

170
130
90

g i l l ill till Jill 1.1II III - u l u l u l l l J i l u l n l i i j j j n . l n l n

L IT T L E ROCK - NORTH L IT T L E ROCK: AR

L O U IS V IL L E : K Y - I N

LATEST DATA PLOTTEDi MARCH



PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

34

50

FINANCIAL INDICATORS

ITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1974— 100________

TOTAL LOANS

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
YEAR AGO

JANUARY
1978

FEBRUARY
1978

MARCH
1978

119.1
126.1
149.7
151.2

119.9
124.8
144.8
147.1

120.3
126.0
145.2
149.1

12.2
8.0
10.5
23.6

12.8
10.9
8.2
20.3

200.1
155.9

200.7
155.9

198.3
157.8

20.8
9.2

26.5
17.8

149.5
130.4
100.0
138.7
123.4
161.7
144.9

153.1
128.8
99.2
144.5
120.2
152.7
158.0

152.7
132.1
99.8
139.8
121.5
154.0
145.9

4.6
-5.0
8.5
9.0
16.3
16.7
3.8

10.0
15.1
8.4
12.3
7.2
14.4
21.7

122.2
126.0
147.8
150.5

124.0
127.1
148.8
148.2

124.0
127.9
147.2
149.2

8.9
10.4
11.6
8.8

9.0
7.2
7,7
10.9

166.9
154.2

168.2
155.4

168.5
157.1

17.7
11.3

12.5
20.3

140.4
136.8
112.1
138.5
116.2
152.8
146.8

144.3
136.5
112.4
139.0
118.4
148.2
148.6

144.6
138.4
112.5
141.5
119.4
146.0
150.5

5.5
10.9
10.6
6.6
10.1
5.0
17.3

10.4
15.5
5.8
11.8
1.5
12.6
13.8

UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRIN6DALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPRIN6FIELD: MO
TEXARKANA: AR
TOTAL DEPOSITS
UNITED STATES
METROPOLITAN SUMMARY*
COLUMBIA: MO
EVANSVILLE: IN-KY
FAYETTEVILLESPRIN6DALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
LOUISVILLE: KY-IN
MEMPHIS: TN-AR-MS
PINE BLUFF: AR
ST. LOUIS: MO-IL
SPR1N6FIELD: MO
TEXARKANA: AR

NUMBER OF MEMBER BANKS
STATE SUMMARY
(EIGHTH DISTRICT)
METROPOLITAN SUMMARY*
NONMETROPOLITAN SUMMARY
ARKANSAS
FAYETTEVILLESPRINGDALE: AR
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
TEXARKANA: AR
NONMETROPOLITAN AREAS
KENTUCKY
LOUISVILLE: KY-IN
NONMETROPOLITAN AREAS
ILLINOIS
NONMETROPOLITAN AREAS
INDIANA
EVANSVILLE: IN-KY
NONMETROPOLITAN AREAS
MISSISSIPPI
NONMETROPOLITAN AREAS
MISSOURI
COLUMBIA: MO
ST. LOUIS: MO-IL
SPRINGFIELD: MO
NONMETROPOLITAN AREAS
TENNESSEE
MEMPHIS: TN-AR-MS
NONMETROPOLITAN AREAS

JANUARY
1978

FEBRUARY
1978

419.00
127.00
290.00
78.00

419.00
127.00
290.00
78.00

419.00
127.00
290.00
78.00

426.20
129.00
295.20
80.00

6.00
3.00

6.00
3.00

6.00
3.00

6.00
3.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
131.00
104.00
40.00
13.00
27.00
16.00
15.00
98.00
4.00
65.00
5.00
51.00
15.00
9.00
9.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
131.00
104.00
40.00
13.00
27.00
16.00
15.00
98.00
4.00
65.00
5.00
51.00
15.00
9.00
9.00

7.00
4.00
3.00
53.00
41.00
8.00
31.00
131.00
104.00
40.00
13.00
27.00
16.00
15.00
98.00
4.00
65.00
5.00
51.00
15.00
9.00
9.00

7.00
4.00
3.00
55.00
41.00
8.00
31.00
133.00
104.00
41.00
13.00
28.00
16.00
15.00
100.00
4.00
67.00
5.00
53.00
15.20
9.00
9.20

* EXCLUDES BANKS IN TWO METROPOLITAN AREAS




MARCH

1978

MARCH

1977

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

35

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEX: 1974-100
1974-100

TOTA

TOTAL LOANS

210 —

—
1------------- SMSA'S
_____

-

NON-SUSA'S

—

-

-

DEPOSITS

1974-

210

i
-

SMSA'S

NON-SUSA'S

-

_____

170

-

-

130

130

90
50

■1i l l 1 l l - l l u u l l l l Lilli ii I n l u l l i J l l l l l i l l l L I I 11 i l l l 1-Li.

ill III 111II l i i l i ll -l i l l i i l u l n l i . i 111I I 1U 111 i l l nl n i l i-

1974

1975

1976

1977

1978

1974

1975

1976

1977

1978

50

NONMETROPOLITAN ARKANSAS
210
—

7i 1 1 1 1 1 1 1 11 u l u l u J u

ii

lu l u l u lilullllll. ullllllllL

170
130
90
50

NONMETROPOLITAN KENTUCKY
210
—

il11111111

11 1« « i■ « i« i 1111111111

iiluln.li

l

IllllJlllll-

170
130
90
50

NONMETROPOLITAN M I S S I S S I P P I
210

170
130
90
50

NONMETROPOLITAN MISSOURI
210
—

—

■1 i l l ! l l l l l l I l l l l l l l l l l u.1 u l- u lu . u l u l u l u . u l l l l u l j x

170
130
90
50

NONMETROPOLITAN TENNESSEE
210

210

170
130
90
50

—

—

—

—

170
130

__

Illllllllll Illllllllll Illllllllll Illllllllll Illllllllll.

1974

1975

1976

1977

■I l l l l l l l l l l i l l l l l l l l l l I l l l l l l l l l l i t l l l l 111 II. u l u l u l u

1978

1974

LATEST DATA PLOTTED: MARCH



1975

1976

1977

1978

PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

36

90
50

FINANCIAL INDICATORS

NONMETROPOLITAN MEMBER BANK DATA
SEASONALLY ADJUSTED
INDEXt 1974-100________

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A
YEAR AGO

JANUARY
1978

FEBRUARY
1978

MARCH

NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

151.6
141.4
172.8
146.5
160.6
140.3
146.2
135.2

152.8
143.3
173.4
148.0
159.8
140.6
149.4
135.9

154.5
145.3
176.1
148.9
160.5
139.8
151.6
136.5

12.7
13.6
18.7
16.1
2.0
12.3
9.1
7.4

15.0
12.3
19.3
13.1
15.1
17.0
12.6
13.0

TOTAL DEPOSITS
NONMETROPOLITAN SUMMARY
ARKANSAS
ILLINOIS
1ND1ANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

139.4
132.7
147.2
132.7
149.7
139.8
138.0
126.8

140.0
133.9
146.9
132.4
149.0
141.3
140.8
126.8

141.2
135.7
148.3
132.3
149.9
141.5
141.8
129.0

11.0
12.9
12.3
7.9
2.7
11.9
12.3
7.9

9.3
7.2
10.0
4.9
10.2
15.7
9.7
9.8

.TOTAL

1978

LOANS.

MEMBER BANK DATA BY STATE
SEASONALLY ADJUSTED
__________ INDEXt 1974-100

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM PREVIOUS
FROM SAME
3 MONTHS
MONTHS A

JANUARY
1978

FEBRUARY
1978

STATE SUMMARY
(EIGHTH DISTRICT)
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

133.0
148.3
152.6
144.1
137.6
141.5
128.4
103.5

132.3
151.0
153.0
142.2
136.5
141.8
125.5
102.9

133.4
151.2
156.0
144.6
139. 1
140.8
126.6
103.9

8.9
10.8
11.4
20.7
-4.0
12.5
17.8
8.1

12.2
13.3
13.0
18.0
15.2
17.5
9.2
8.8

TOTAL DEPOSITS
STATE SUMMARY
(EIGHTH DISTRICT)
ARKANSAS
ILLINOIS
INDIANA
KENTUCKY
MISSISSIPPI
MISSOURI
TENNESSEE

130.4
139.5
134.5
136.8
141.8
141.2
122.8
113.5

131.3
141.4
134.4
135.6
141.7
142.9
125.0
113.8

132.3
142.8
135.7
136.0
142.5
143.4
126.1
114.4

10.0
10.9
5.2
9.3
6.1
12.4
15.9
9.7

7.9
10.1
4.2
8.4
13.5
16.1
5.1
6.1

TO TA L

MARCH
1978

YEAR AGO

LOANS




PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

37

FINANCIAL INDICATORS




SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED
INDEX: 1974-100

38

FINANCIAL INDICATORS

SAVINGS AND LOAN ASSOCIATION DATA
SEASONALLY ADJUSTED
__________ INDEX. 1974-100________
JANUARY
1978

TOTAL SAVINGS
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH. AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS
MORTGAGE LOANS OUTSTAND i m
UNITED STATES
CMV STATE SUMMARY
CMV METROPOLITAN SUMMARY
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-IL
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS

FEBRUARY
1978

MARCH
1978

166.2
167.6
161.6
174.1
164.4

166.9
168.7
162.3
175.4
165.1

168.1
170.1
163.5
178.3
166.5

165.5
154.6
165.4
157.0
205.9
161.0
162.2
150.2
168.4
165.4

166.6
154.5
166.7
157.4
207.3
162.0
163.1
150.3
169.3
165.1

170.3
156.5
169.5
158.4
209.2
162.8
164.1
151.9
170.7
165.8

160.1
164.9
155.2
177.5
172.2

161.8
166.5
156.2
179.0
172.3

163.6
168.4
157.7
181.3
174.1

166.5
156.2
163.7
150.9
188.7
157.8
154.2
155.5
166.5
151.9

167.1
159.1
165.0
152.0
191.5
159.4
155.2
156.2
168.4
154.6

168.5
158.9
166.7
153.6
194.1
161.0
156.6
157.6
170.5
156.4

COMPOUNDED ANNUAL
RATES OF CHANGE
3 MONTHS ENDING MARCH 1978
FROM SAME
FROM PREVIOUS
MONTHS A
3 MONTHS
_____________
YEAR AGO

7.8
9.8
9.1

14.0
15.6
13.3
16.4

12.2
10.0

11.1

10.2

14.4
13.7
14.1

11.1
8.6
8.8

24.4
11.4
7.6

36.4
12.5
13.3
19.8
16.3
15.6

17.2
18.1
15.7
18.1
13.3

18.0
19.2
16.2
20.7
15.5

7.8
14.0
5.0

11.0

18.5

13.5

20.2

20.1

16.5
16.2
19.4
16.9
13.4
44.7

17.3
13.6
36.3
16.6
16.1
26.3
19.7
15.1

21.8

19.4

NUMBER OF SAV1NGS AND LOAN ASSOC 1AT 1ONS
JANUARY

UNITED STATES
ARKANSAS
FORT SMITH: AR
LITTLE ROCK-NORTH
LITTLE ROCK: AR
PINE BLUFF: AR
KENTUCKY
LOUISVILLE: KY-IN
MISSISSIPPI
MISSOURI
ST. LOUIS: MO-1L
SPRINGFIELD: MO
TENNESSEE
MEMPHIS: TN-AR-MS




FEBRUARY

MARCH

1978

4058
73
4

4057
73
4

4060
73
4

4041
71
5

7
3
105

7
3
103

3

7

103

7
3
106

59

60

12

12

59

112

112

54
5
95

54
5
97

1978

MARCH

1978

12

112

54
5

95

1977

12

47
114
55
5
83
5

6
6
PREPARED BY FEDERAL RESERVE BANK OF ST. LOUIS

6

39

POPULATION
Bureau of the Census

1970

1975

Compounded Annual
Rates of Change
1970
1960
to
to
1970
1975

203,305,000

213,051,000

.9

1.3

15,964,668

16,809,000

1.0

.7

CMV Metropolitan Areas

5,654,793

5,838,500

.6

1.3

Arkansas
FayettevilleSpringdale: AR
Fort Smith: AR-OK
Little Rock-North
Little Rock: AR
Pine Bluff: AR
Texarkana: AR-TX

1,923,322

2,116,000

1.9

.7

127,846
160,421

149,100
201,400

3.1
4.7

3.3
1.7

323,296
85,329
113,488

367,300
83,700
114,700

2.6
- .4
.2

1.7
.5
1.2

Kentucky
ClarksvilleHopkinsville: KY-TN
Evansville: IN-KY
Louisville: KY-IN
Owensboro: KY

3,220,711

3,396,000

1.1

.6

118,945
284,959
867,330
79,486

143,800
287,500
891,700
81,200

3.9
.2
.6
.4

.6
.5
1.4
1.2

Mississippi

2,216,994

2,346,000

1.1

.2

Missouri
Columbia: MO
St. Louis: MO-IL
Springfield: MO

4,677,623
80,935
2,410,602
168,053

4,763,000
88,200
2,369,400
187,300

.4
1.7
- .3
2.2

.8
3.9
1.2
1.9

Tennessee
Memphis: TN-AR-MS

3,926,018
834,103

4,188,000
873,200

1.3
.9

1.0
1.4

United States
CMV States




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