BOARD OF GOYcMOttS OF THE FBBERAL 5"bERVE SYS

^ C ' D ra f i l e s S E s m m JUL 3 0 1 9 4 1

G.12 . )

For r e l e a s e i n morning papers , Wednesday, J u l y 30* 19V7

BUSINESS IKEEXES

2959 ave r t go z 100 f o r f a c t o r y employment and p a y r o l l s ; 1923*25 average s 100 f o r c o n s t r u c t i o n contracts;

1935"39 average * 100 f o r a l l other s e r i e s .

Adjusted f o r Without seasonal v a r i a t i o n seasonal atiju: 3 tment

1947 194b 1947 ' 1946 June J May June June | May June

I n d u s t r i a l p roduc t ion t o t a l P183 165 170 plQU 185 171 Manufactures

Total P189 191 176 pl90 191 176 Durable p21? 210 193 p218 218 194 Nondurable pl6? 170 162 pl66 169 162

Minerals pl49 152 139 P153 154 141 Cons t ruc t ion c o n t r a c t s , value

Tota l * 127 17U 153 201 R e s i d e n t i a l * 110 177 * 130 195 i l l o the r * 140 172 * 171 207

Factory employment 141.9 Total pl51.0 151.9 11*2.2 P150.8 150.7 141.9

D u r a b l e goods pl?8.6 178.3 162.3 pl78,8 178.0 162.4 Nondurable goods P129.3 131.1 126.3 P128.7 129.1 125.7

Factory p a y r o l l s Total - - * $ 312.1 262.6

^Durable goods mm * 353.6 289.1 Nondurable goods mm' * 271.6 237.0

Fre igh t ca r load ings 137 lh2 133 l i^ m 137

Department s t o r e s a l e s , value p206 291 276 P265 280 253 Department s t o r e s tocks , va lue * 252 210 * 253 205

p- ' -Prel iminary. * 1 kvfca no t y e t a v a i l a b l e . i o t a 1'Production, ear loadings* and department s t o r e s a l e s indexes based on d a i l y

averages* To conver t durable manufac tures , nondurable manufac tures , and minera l s indexes t o po in t s i n t o t a l index, shown in Federal Reserve Chart Book, m u l t i p l y durab le by *379# nondurable by 1*69# end mine ra l s by .152,

Cons t ruc t ion con t r ac t indexes based on 3-month moving ave rages , centered a t second month, of P. W# Dodge d a t a f o r 37 Eas te rn S t a t e s . To convert indexes t o va lue f i g u r e s , shown i n Federal Reserve Chart Book, m u l t i p l y t o t a l ! by $410,269,000, residential by $181+,137,000 and c.ll other by ,226,132,000.

Employment index , w i t h o u t seasona l ad jus tment , and p a y r o l l s index compiled by Bureau of l a b o r S t a t i s t i c s #

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

DJttJSSHIAL PRODBCTION (1935-59 average s 100)

Adjusted for Witihout seasonal v a r i a t i o n seasonal adjustment

m i 19W> 1947 191*6 June 1 May June June | May June

kiUUEaC TORES Iron and s t e e l P193 197 15U P193 197 151*

P ig i ron * 193 li*l* # 193 Htl* S tee l 210 215 167 210 215 167

Open hea r th 175 179 Ht2 175 179 11*2 E l e c t r i c 1(60 U69 3L3 I46O 1*69 31*3

Machinery P273 873 2lA P273 273 21*1 Transpor ta t ion equipment P229 224 238 p229 221* 233

automobiles l / p l86 178 167 pl86 178 167 Nonferrous iwfcais end products P103 187 137 P183 187 137

S m i t i n g end r e f i n i n g P192 198 110 P191 198 110 lumber and products P13Q H a 133 pll*5 H*3 H*1

Lumber p l28 132 127 Pl39 136 138 f u r n i t u r e p l 99 158 II46 P159 158 ll*6

Stone, c l ay , and g l a s s products P606 200 190 p20? 206 191 P l a t e g lass 15U 163 119 15k 163 119 Cement * ll*l 155 * ll*8 166 Clay products pl6U 162 11*8 pl62 162 11*7 Gypsum and p l a s t e r products p209 212 19U p213 211* 198 Abrasive and asbestos products p238 21*6 232 p238 21*6 232

Tex t i l e s end products P15L 161* 165 P15L 161* 165 Cotton consumption 133 11*8 152 133 11*8 152 Rayon d e l i v e r i e s 26l r271 21*5 261 r271 21*5 Wool t e x t i l e s # 161 17h * 161 171*

l e a t h e r products 113 128 * 113 127 Tanning * 119 107 * 119 10U

C a t t l e h ide l e a t h e r s * 138 128 * 138 123 Calf and kip l e a t h e r s * 96 75 92 77 Goat and k id l e a t h e r s * 38 1*5 * 86 h6 Sheep end lamb l e a t h e r s * 81* 128 * 90 127

Shoes * 110 11*2 Pl5l*

110 11*2 Manufactured food products pl5U 155 139 Pl5l* 11*8 137

Wheat f l o u r pll*7 w * 109 pll*l 138 101* Meatpacking 152 151 85 150 151 61* Other manufactured foods P155 157 151 plii6 11*2 11*1

Processed f r u i t s & vegetables P l3 l 137 162 plOl 89 125

pPrel iminary. rRevised. # not y t t &Tctxl&bl0i

1 / This se r i e s i s cu r r en t l y based upon man-hour s t a t i s t i c s f o r p lan ts c l a s s i f i e d i n the cutcaobilc end automobile p a r t s i n d u s t r i e s and i s designed t o measure product ive a c t i v i t y during the month i n connection with assembly of passenger o a r s , t r ucks , t r a i l e r ' s , and busses ; product ion of bodies , p o r t s , and accessor -i e s , including replacement p a r t s ; and output of nonautomotive products made i n tho p l a n t s covered.

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

INOJSTHIAl PRODUCTION (1935-39 average 100)

Adjusted f o r Without seasonal var ia t ion seasonal adjustment

1947 1946 1947 1946 June 1 June June I May June

EANUF>.CHIRES ( c o n t ' d . )

Paper and products 161 146 * 161 147 Paperboard 179 184 1&4 179 184 164 Newsprint product ion 91 92 33 92 93 84

P r i n t i n g and pub l i sh ing pl45 142 129 pl44 145 129 Newsprint consumption 131 125 116 129 129 115

Petroleum and ooal products * 106 174 * 106 174 Gasoline P153 145 140 Pl53 145 140 Coke 169 137 * 169 137

Byproduct * 161 133 * 161 133 Beehive P339 433 276 p339 433 276

Chemicals p2l*0 253 233 P245 252 231 Rayon P252 295 256 p252 295 256 I n d u s t r i a l chemicals p434 434 369 P434 434 389

Rubber products p213 220 218 p2l3 220 218

MINERALS

FXiels pl53 156 149 p l53 156 149 Bituminous coal plU7 168 156 pi47 168 156 Anthrac i te P109 104 06 pi09 104 86 Crude petroleum P159 157 153 pi 59 : 157 153

Metals " ** "" = 124 78 * 139 95 I ron ore * 279 233

pPreliminary. ! Data not y e t ava i lab le*

FREIGHT CAfiLOADINGS (1935-39 average 100)

Coal 141 155 146 141 155 146 Coke 173 185 140 170 183 136 Grain i4o 138 r l 2 5 143 121 123 l i v e s t o c k 108 104 118 37 94 96 Forest products 145 146 149 151 154 155 Ore 184 184 137 206 267 213 Miscellaneous 142 H*5 135 146 146 139 Merchandise, l c l . 74 76 01 73 76 reo

r*-RevisedL NotesTo convert ooal and miscellaneous indexes t o points i n t o t a l index, shown

in Federal Reserve Chart Book, mul t ip ly ooal by .213 end miscellaneous by .548.

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