Full text of G.12.3 Industrial Production : February 25, 1939

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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
Released f o r publication
Monday morning, February 27

R&S BI - 174
February 25, 1939
BUSINESS INDEXES
(1925-1925 average * 100)
j
I
i

Industrial production
Total
Manufactures
total
Durable
nondurable
Minerals
Construction contracts. value
fetsl
: • Residential
i l l ether
Factory employment
. Total
. Durable goods
Nondurable goods
Factory payrolls
total
Durable goods
nondurable goods
Freight-ear loadings
total
Miscellaneous

Adjusted f o r
seasonal variation
1958
1939
Deo, 1 Jan,
«&&*

Without
seasonal adjustment
1938
1939
Deo, | Jan,
Jan,

plOl

104

80

p99

98

79

plOO
p88
pllO
pUO

104
92
114
109

76
56
93
108

p96
p83
pill
pl06

98
86
108
103

75
53
94
103

p86
]»64
pll2

96
57
128

52
26
73

p70
p45
p91

77
48
100

42
22
59

90,0
83,7
96,0

p89,3
p81,4
p96,8

91,2
83,1
98,8

87.8
81 ,7
93.7

p83,2
p76,6

86.6
80,4
93.6

75,0
67.1
84,0
59
59:v

p91«8
p83,4
p99 ,2

91.6
85.2
99,5

««

'

*,*

* *
# «

*»

68

$ *

.

*S

69
74

65
69

63
65

64
67

Department store s a l e s , value

•88

89

90

68

156

70

Department store stoeka , value

p67

66

71

p60

62

63

, p^rMtmlaary*'' "
Bote $ —•Production* oarloadings, and department store sales indexes based on daily
averages. To omvert durable and nondurable manufactures indexes t o points in
t o t a l index of manufacture# f i g u r e s , shown in Federal Reserve Chart Book, multiply
durable by #495 and nondurable by ,637,
Construction contract indexes based on 3-month moving averages, centered a t
second month, of F, W, Dodge data for 37 Eastern S t a t e s . To convert indexes to
value f i g u r e s , shown in Federal Reserve Chart Book, multiply t o t a l by
#410,269,000 residential by #184,157,000, and a l l other by #226,132,000,
Employment index, without seasonal adjustment, and payrolls index compiled
by Bureau of Labor S t a t i s t i c s ,



DmusraiAt, m o m & i m
.•iSjusiM/fipr'
- ' seasonal variation •
' 1939
-'im
Sec. j Ja».
-

-

Without
. seasonal adjustment
• 1959 j
Jan.
f "Jan,

' M4HBEACT2HES '
Durable goods
Iron and Vteel".

n

' Steel iixgots
Automobiles
• 'Locomotives "
- -

Cernnt •-'/

Plate glass
Tin deliveries "
SeeMw.eoleey/ . - '

" 89
90
102 l i l l l f i l l
75
71
I l i l s asiiiiiiii
96
104 S i l l l l i K i t B
92
91
99 ( i i s a i i f f i t i 105
117
i l l i i
12
SSISIEES?
69
' 82 :« » : i i S S # S I l i W i i
84
14?
I S i f ! l l l i l B l i i 147
;
88
• '-9 -k
6
6
7
p7
i
l
l
l
l
l
s
i
i
l
l
^ P VJ
8II®§1

.-

50
47
50
65
12
ysstiw.
62
91
10

- '' . nondurable goods
Textiles • - - •
—
IpliSs
117 1118ISII8I8l § l § f l » 111.
78
Cottoa ooKsisaption
. • i s i i i i i i 120 i i i i i i l i i l s i a i B l s s .110
86
- Silk deliveries
10?
80
122
103
92
m
Slaughtering and meat packing -:
92
! 101
101
107
74 ' : 79
- logs .
' - : \.J
77
100
103
104
ST
. 89 I 8 S $ * $ i i
94
107
113
104
100
105
* * • * 1 1 1 8 1 * 1 * 1 1 1 1 S I l l W l l l 106
. 150
;l i i i f c l
160
mmmmmmsmmmsma.
8 1 l # S i l l SilSSEESn 161
• ®z-. - 92 :
' 86 .
90
88
- 84
Slllsiliilti
106
| B 5 | | : | | S S v 66
99
70
1111111
BW:^®®illi!liilSill
•

•

Sewspriat production
Sewspriat oe&sumption ,•

67
IllSllii i i i l
l l l B i l i i l I l l i l S i i 58
*
,12-7. :l i i i l i i i i i i l i l i i l i l i i . 127

Leather aBdprodtiots - - . . pl22
#
faaeSag "
' . - Cattle hide- leathers
- l; l l l p l i ! *
' Calf and kip leathers ' i s i i i l f l i
Goat asd kid leathers '
*
Pefcrolew r e f i s i a g * Gasoline
*.
Kerosene
Fuel o i l
: Lubricating o i l
Totoaoco products
165
Cigars
79
Cigarettes
257
Manufactured tobacco
78
•-

p53KhTOE3SEy




#

122 'l l l l l w l l l l i l l l l
78
#
SfilSSBlK
1 * 8 • l i l l l l i l i S#®®§ill
108
SO
*
85 l l e l s B l l s s
201
201
- *

105
96
92

*

107

, in

*

* • •

179
76
258
97

187
75
22S
77

157
61
232
79

142
100
145
57
212
79

87
74
SsisB
86
201
testis:146
116
150
58
221
78

* iWta not yet a v a i l a b l e .

WmmX

&

•r»ip.
asteeebil*
VoBf«rrot«t m#W#
Stone, eley end ( l u i
tedar^U
goods
Textiles a c d p r t U u c t s
Fabrics
Wearing apparel
Leather p r o t o t i
Food products
Tobacco products
Paper and p r i n t i n g
Chemicals and petroletm
products
Petroleum r e f i n i n g
Chemicals group,
except petroleum
refining
Rubber products

n
m
m
m
m
m

#
#
m
m
m
m

*m
m
###
'

a•
*i

n

I*
>•
»=4

UJ#
it

m

•

m
•

*$

**

»».• A*.4
M.t
ma
«1.§
•Set
s u e 101.8
91.6
88.9 60.9
96.7
M4
96.1
l O t . 0 108.6
61 «# 106.1 106.9
90.4
98 J
91.7
94.8
MX
Ci«8 66.3
eta
61.*
64.1
73.4
72.0
69.6
66.3
70.6

77 .4
**.4
104.0 87.8
88.6
94.1
64.7 102.3
86.8
64.8
60.0
61.4
63.1
66.6

m,t *0.9
89.2 96.1
96.7 67.6
106 .4 64.4
90.1 74.9
66.1 46.1
63.6 47.9

96.3 96.9
89.9
90.3
116.6 116.4
92.7
92.1
124.0 124.2
64.2
66.4
106.6 106.0

90.6
97.3
96.6
61.4
90.7
91.8
109.8 110.6 112.2
89.6
92.6
88.6
124.7 113.6 120.1
60.7
60.0
65.2
106.4 105.3 108.0

89.7
82.1
106.3
89.6
114.7
66.7
106.1

80.6
78.4
82.2
77.9
115.0
50.3
101.8

83.3 68.0
81.1 64.4
84.7 72.6
70.0 69.0
120.9 116.6
59.6 48.0
107.3 100.2

112.2
117.7

112.3
118.1

114.8 111 .8
IBS .4 117,1

112.7
118.1

114.6
128.8

119.8
134.7

120.1 115.7
134.1 135.9

110.8
81.2

110.9
83.2

112.8 110,5
78,0 . .80.9

111.4 •112.6
83.6
77,9

115.2
84.4

115.8 109.S
89.0 66.1

»ote*—Indexes of factory emplaymemt a # payrolls are f o r payroll period endleg nearest the middle of the month.
1939 figures are preliminary»

iv




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