nCD I I P1I38 S1CTI01

AUG 25 1943

For release in morning papers R&S BI - 226 Wednesday, August 25, 1943 August 2J, 19^3

BUSINESS INDEXES

1955*39 average * 100 for industrial production and freight-oar loadings; 1939 100 for factory employment and payrolls;

1923-25 average 100 for a l l other series

% # s t M W seasonal variation

-"Without seasonal adjustment

1943 1942 1943 1942 M y | June July July J June July

Industrial production Total p205 202 178 p20? 203 180 Manufactures

Total p217 217 188 P219 218 189 Durable P3G4 302 249 P306 304 251 Nondurable plk7 147 138 pl48 148 139

Minerals pl37 118 126 P142 122 131 Construction contracts, value

Total p44 h5 206 p48 53 232 Residential P36 32 74 P36 36 75 All other P50 55 313 P58 67 360

Factory employment Total P169.5 169,7 153 ;4 pl69.5 168.7 153.4 , Durable goods P229.3 229.4 193,9 P229.3 228.5 193 ;9 nondurable goods P122.3 123.5 121,4 pl22,3 121.6 121.4

Factory payrolls Total mm * 317.9 21(2,7 Durable goods 41,2,9 323.9 nondurable goods mm mm * 195,0 163.3

Freight-car loadings * # - * * * # 146 132 142 I 1 1 value plltO 129 121 pioe 124 83 Department store stocks, value * P98 141 * P93 126

pPreliminary or estimated. #Data not yet available, ** Data In process of revision,

Mote#Production, oarloadings, end department store sales indexes based on daily averages. To o on vert durable manufactures, nondurable manufactures, and minerals indexes to points in to ta l index, shown in Federal Reserve Chart Book, multiply durable by ,379, nondurable by .469, and minerals by .152,

Construction contract indexes based on JHnonth moving averages, centered at second month, of F, W, Dodge data for 37 Eastern States, To convert indexes to value figures, shown in the Federal Reserve Chart Book, multiply total by $410, 269,000, residential by $184,137,060, and all other by $226,132,000,

Employment index, without seasonal adjustment, and payrolls index compiled %y Bureau of labor Statistics*

BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDUSTRIAL PHD EC CT ION (1935-39 average 100)

id3witea for "-""Without ; ' " : ' ' - seasonal variation seasonal adjustment

' irn ; . 19142 194) | 1 5 ' & iy July j June j J u l y

SttMJFACRJRBS Iron and steel 203 201 196 203 201 19S

Pig iro& 191 190 192 191 190 192 Stool I 229 227 216 229 227 216

Open henrth and Bessemer 180 177 175 180 177 175 Electric 577 583 506 577 583 506

Machinery! P371 368- 289 P371 368 289 Transportation equipment p622 618 425 p622 618 425 Honforroua metals and products Pl89 195 188 pl88 195 188 Lumber anl products pl26 121* 133 P132 130 140

Lumber p l lo 113 130 pl25 123 141 ' Fumitv?o pl45 1 # 137 pl45 1 44 137 Stone, clay, & glass products * 136 lho * 149 151

Cement * 12k 169 * 136 186 Polishe-l plato glass 50 46 32 50 46 32

Textiles und products P151 154 15U P151 154 154 Cotton consumption 153 160 166 153 160 166 Rayon deliveries pl9 133- 168 pl82 133 166 Wool t ex t i l e s * 160 160 * 160 160

Leather products pllO 112 116 pl08 110 114 Tanning) * 107 119 * 104 113

Cettlb' hide leathers * 122 i a * 116 134 JCalf. md kip leathers # ... 86 . .. 9 ... . 88 88

Goat jid kid leathers 86 79 86 78 Shoes p i l l 115 115 p i l l 113 115

Manufactured food products ' pl45 liiS 143 p!57 148 156 Wheat f lour 118 118 106 116 111 105 Meatpacking pl78 163 146 pl66 1^8 138 Othtr ffl-nufa?tured fo.ods . RlW: w 150 lk7 P%54 142 157

Tobacco products 132 118 126 " 138 T28 151 Cigars 99 96 109 99 102 113 Cigarettes 166 xm 146 175 156 153 Mtuvufacfcured tobacco 4 snuff 83 78 89 84 80 91

Paper tuad produots . 135 125 * 134 122 Paperbcard 143 152 109 143 152 109 Newsprint production 91 91 103 89 92 101

Printing aid publishing p i i4 112 106 P103 111 96 Newsprint consumption 104 100 103 91, . . 101 90

' not yJtJluv;i'lKbia,

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

INDUSTRIAL PRODUCTION (1935-59 average 100)

Adjusted tot ' seasons! variation

mtkouk SeseoMd, ttdjuetmen*

191#: 194J 1%% -1- Am# 1 **

MANUFACTURES (Cont'd.}

Petroleum end coal products 123 118 122 117 Petroleum refining * 118 111 * 117 110

Gasoline pl09 109 105 pl09 109 105 Fuel oi l 138 127 * 138 127 Lubricating oil * 120 117 * . 120 115 Kerosene 126 105 * 119 97

Coke Pl6 l 157 163 pl6l 157 1&3 Byproduct pl52 152 153 P152 152 153 Beehive p468 323 502 p46e 323 502

Chemicals p226 227 174 p221 222 167

MINERALS

Fuels pl37 115 121 Pl37 115 121 Bituminous coal P155 103 i4 l Pl55 103 llti Anthracite pl29 74 122 Pl29 74 122 Crude petroleum pl30 124 112 pl30 124 112

Metals pl39 137 155 pi 74 164 192 Iron ore 256 249 2U 398 359 393

pPreliminary or estin&ted. ' * Data not yet Available*

FREIGHT-CAR LOADINGS (1935-39 Average - 100)

Coal f* * * ' * 146 100 132 Coke * * * : ** 178 162 177 Grain * * *# * 172 140 138 Livestock 115 110 90 9? 96 76 Forest products 150 140 172 150 145 173 Ore # # w 323- 297 325 Miscellaneous 148 1JU1+ 149 147 116 148 Merchandise, l . c , 1 , 64 63 57 6J 63 57

r -RWised . " 1 "16 pr6c6#6f NotesTo convert coal and miscellaneous indexes to points in to ta l index, shown

in the Federal Reserve Chart Book, multiply coal by .213 and miscellaneous by .5W.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis