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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Division of Research and statistics
CONFIDENTIAL
Mot for pufciioatioa

April 15, 1939
PRELIMINARY BUSINESS 3BDE2ES
(1923-1926 average * 100)
Adjusted for
seasonal variation
1939
1936

War* f Feb,
6EHEBAL BTOBXES
Industrial production
Total
Manufactures
total
Durable
Nondurable
Minerals
Construction contracts# value
Total
Residential
M l other
Freight-oar loadings
Total
Miscellaneous
Department store sales, value
Wholesale prices (1926*100)
All commodities
Farm products
Foods
Other commodities
SELECTED PRODUCTION INDEXES
Pig Iron
Steel Ingots
Automobiles
Cotton consumption
Silk deliveries
Meat packing
Bituminous coal
Aathraolte
Petroleum, erude

Mar,

Without
seasonal adjustment
1938
1939
Mar.
Mar. 1 Feb.

p98

98

79

plOO

99

80

p96
p79
pllO
pllO

97
83
108
109

75
64
93
103

p99
p86
pill
pl02

98
83
111
105

77
57
94
95

p68
p58
p76

73
68
85

46
33
56

p69
p61
p75

63
51
72

46
35
55

66
73
p88

67
76
87

60
67
86

63
70
p82

62
64
69

57
64
77

75,9
6.7,2
71.5
80.2

79.7
70.3
73.5
82.6

•mm' .

—
—

—
—

—

—

76
83
p91
114
108
89
p77
p61
pi 78

.

• .«M*

73
88
98
111
97
83
79
61
169

46
49
64
90
100
83
68
68
172

77,0
67.2
71.3
80,4
79
94
pl05
119
104
84
p77
P 60

pin

75
92
98
119
104
83
83
66
166

48
56
63
94
96
78
68
66
170

p-^reViminary."
Wete i ••Produetloaa, oarloadinge, and department store sales indexes based on daily
averages. ;
J
Construction contract indexes based on 3-month moving averages, centered at
second month, of F. W, Dodge data for 37 Eastern Statue*
Wholesale price indexes compiled by Bureau of Labor Statistics, Figures for
March 1939 estimated fro® the Bureau's weekly Indexes,