g123_19410517.pdf

BOARD OP GOVERNORS OF THE FEDERAL RESERVE SYSTUI H)4i SjeS- -SI -201

"May 17, 1941

BUSINESS INDEXES (1935-39 average 100 for industrial production;

1923-25 average *'100 for all other series) Adjusted for

seasonal variation Without

seasonal adjustment 1941 1940 1941 r 1940

Apr. Mar. Apr. Apr. Mar. Apr-

Industrial production Total p!39 143 111 pl41 143 112 Manufactures

Total pl46 146 110 pl49 148 112 Durable pl66 170 113 Pl 175 120 Nondurable pl30 127 107 pi 28 126 rl06

Minerals plOl 126 119 p96 116 111 Construction contracts, value

Total p94 94 64 pl07 94 73 Residential p75 74 62 p88 78 73 All other pl09 109 66 pl22 107 74

Factory employment Total * 119, A 102.8 * 119.9 103.2 Durable goods * 123. >0 97.7 '* 123.7 98.7 Nondurable goods * 116, ,0 107,6 * 116.3 107.5

Factory payrolls Total . . * * 131.3 97.9 Durable goods .* . * 144.6 96.4 Nondurable goods * - * 115.3

Freight-car loadings 79 87 70 74 83 67 Department store sales, value pl03 103 89 pl05 93 86 Department store stocks, value * 74 69 * 75 71

Released for publication Monday morning. May 19

p--Prelimlnary, rRevised. * Data not yet av&ilabk lot e;Product ion, carloadings, and department store sales indexes based on daily

averages. To convert durable manufactures, nondurable manufactures , and minerals indexes to points in total index, shown in Federal Reserve Chart Book, multiply durable by .379, nondurable by .459, and minerals by .152.

Construction contract indexes based on 2-month moving averages, centered at second month, of F. M. Dodge data for 37 Eastern States. To convert indexes to value figures, shown in Federal Reserve Chart Book, multiply total by 410,259,-000, residential by 154,137,000, and all other by *226,132,000*

Employment index, without seasonal adjustment, and payrolls index compiled by Bureau of Labor Statistics.

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

INDUSTRIAL PRODUCTION (1935-39 average - 100)

Adjusted for Without seasonal variation seasonal adjustment

1941 1940 1941 1040 Apr. 1 Mar. Apr# Aor. Mar. Apr.

MANUFACTURES Iron and steel pl60 16$ 99 pi 71 181 106

Pig iron 152 170 117 170 178 123 Steel ingots pl60 169 97 pi 71 181 104

Machinery pl89 181 123 pi 93 185 126 Transportation equipment pi 63 188 117 pl89 202 141

Aireraft p818 751 306 p818 751 306 Automobiles plOS 144 103 pl38 160 130 Railroad ears pl58 168 125 pi 79 178 141 Locomotives p271 239 103 p258 274 ' 98 Shipbuilding p337 322 156 p351 336 162

Nonferrous metals and products pl86 185 124 pl94 ISO 129 Copper snelting pl37 136 131 pl45 136 139 Zinc smelting 160 156 133 164 163 137 Copper deliveries p211 211 111 p221 SIS 116 Zinc shipments 143 142 112 145 145 114

Lumber aid products pl29 128 110 pl28 123 109 Lumber 124 125 109 125 118 109 Furniture pl38 132 111 pl33 133 108

Stone, clay* and glass products pl51 150 115 pl50 125 114 Polished plate glass 142 135 96 142 141 96

Textiles and products pi 54 144 100 pl49 14 7 97 Cotton consumption 156 147 107 160 156 110 Rayon deliveries pi 71 153 137 pl58 150 127 Silk deliveries p75 71 61 p73 74 60 Wool textiles pi 51 151 79 pl49 152 73

Leather and products pile 114 87 pll9 121 89 Leather tanning * 113 86 * 112 87

Cattle hide letthers * 119 86 * 120 86 Calf and kip leathers 112 80 * 105 79 Croat and kid leathers * 97 91 * 96 94

Shoes pll7 115 87 pl23 127 91 Manufactured food products pi 22 121 111 pill 107 101

Wheat flour 110 105 100 103 102 94 Cane sugar meltings pi 28 122 85 pl41 135 98 Meat packing pi 26 12% 117 pll9 122 111 Other manufactured foods pl22 120 112 pl07 105 98

Paper and products * M l 116 * 137 119 Paperboard 14* 136 114 146 144 116

Printing and publishing pll6 116 108 pl22 121 114 Newsprint consumption 10G 106 101 113 110 108

pPreliminary or estimated# * Data not yet bv&llable.

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

INDUSTRIAL PRODUCTION (1935-59 average * 100)

Adjusted for Without seasonal variation seasonal adjustment

1941 | | 1940 1941 | 1940 Apr. 1 Mar. ] 1 Apr. Apr. I Mar * ( Apr*

Manufactures (Cont'd) Petroleum and coal products * 123 115 * 119 115

Petroleum refining * 118 114 * 114 114 Gasolfne 120 112 $ 114 111 Fuel oil * 121 117 118 115 Lubricating oil * 105 120 * 104 125 Kerosene * 113 120 * 115 123

Beehive coke p72 347 84 oG5 434 76 Chemicals pl24 123 111 pl28 128 114 Rubber products p!59 rl55 rll9 pl57 rI55 rll8

Rubber consxnnption 161 rl58 rl20 160 rl58 rll9 MINERALS

Fuels p85 121 116 p86 121 113 Bituminous coal p22 149 120 pl9 143 100 Anthracite p71 102 83 p76 105 89 Crude petroleum pll2 112 118 T>:14 114 121

Metals pl93 147 135 pl51 90 95 Iron ore 355 191 149 211 * 14 Copper pl54 148 144 pi GO 151 150 Zinc 147 140 123 152 147 127 Gold * 124 123 * 103 109 Silver * 127 127 * 132 130

pPrel imlnary or estimated. rRevised, * Data not %'et available*

FREIGHT-CAR LOAD DIGS (1923-25 average * ICO)

Coal 31 86 75 26 91 63 Coke 93 109 73 78 114 62 Grain 82 80 79 73 74 70 Livestock 37 38 37 34 21 34 Forest products 54 53 43 55 54 44 Ore 361 r a 102 148 36 42 Miscellaneous 97 SE 74 100 95 76 Merchandise* l,c.l. 65 6* 59 65 64 60 NotesTo convert coal and miscellaneous l#e%es to points in total index", shownin

Federal Reserve Chart Book, multiply goal by #210 and miscellaneous by *477#

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