Full text of G.12.3 Industrial Production : August 17, 1939

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I

BOARD OF GOVERNORS OF THE FEDERAL RESERVE S*i STEM

R&S BI - 180
August 17, 1939

Released f o r publication
Friday morning, August 18
BUSINESS INDEXES
(1923-1925 average - 100)
Adjusted f o r
seasonal v a r i a t i o n
1939
1638
July 1 June
July
I n d u s t r i a l production
Total
Manufactures
Total
Durable
Nondurable
Minerals
Construction c o n t r a c t s . value
Total
Residential
All other
Factor;' employment
Total
Durable goods
nondurable goods
Factory p a y r o l l s
Total
Durable goods
Nondurable goods
Freight-car loadings
Total
Miscellaneous
Department s t o r e s a l e s . value

pl02

98

83

p98

98

81

plOl
p69
pill
pl08

97
82
110
104

82
58
102
93

p96
p85
pl06
pl09

97
85
108
105

79
58
97
93

p67
p61
p71

63
58
67

59
49
68

p73
p62
p81

73
64
80

65
49
78

91.4
83.2
99,2

82.9
70.7
94.5

90,6
83.9
97.0

81.9
70.3
92.9

86.2
81.9
91.1

70.6
58.6
84,1

*

*
*

• •

# #

. ^

*

*

*

* *

*

e 9

*

69
72

67
71

61
65

70
74

67
74

62
66

p86

86

83

p60

83

58

*

66

67

*

64

61

%

j

1

, value

Without
seasonal adjustment
1939
1938
July
July | June

p—Preliminary.
* Data not y e t a v a i l a b l e .
Notes—Production, oarloadings, and department s t o r e s a l e s indexes based on daily
average#. To ooavert durable and nondurable manufactures indexes t o points i n
t o t a l index of manufactures f i g u r e s , shown i n Federal Reserve Chart Book, multiply durable by .463 and nondurable by ,537,
Construction c o n t r a c t indexes based on 3-month moving averages, centered a t
second month, of F . W. Dodge data f o r 37 Eastern S t a t e s . To convert indexes t o
value f i g u r e s , shown i n Federal Reserve Chart Book, multiply t o t a l by #410,269,
000, r e s i d e n t i a l by. #184,137,000, 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 ,



INDUSTRIAL PRODUCTION
(1923-1925 average-100)
Without
seasonal adjustment
1038
1939
July
July | June

Adjusted f o r
seasonal v a r i a t i o n
1938
1939
July
J u l y I June
MAiiUFACTURES
Durable goods
Iron and s t e e l
Pig iron
Steel ingots
Automobiles 1 /
Locomotives
Cenvent
P l a t e glass
f i n deliveries
iieehive coke
Nondurable goods
Textiles
Cotton consumption
Silk d e l i v e r i e s
Slaughtering and meat packing
Hogs
Cattle
Calves
Sheep
Wheat f l o u r
Sugar meltings
Sewaprint production
H w s p r i n t consumption
Leather and products
Tanning
C a t t l e hide l e a t h e r s
Calf and kip l e a t h e r s
Goat and kid l e a t h e r s
Petroleum r e f i n i n g
Gasoline
Kerosene
Fuel o i l
Lubricating o i l
Tobacco products
Cigars
Cigarettes
Manufactured tobacco

5

78
87
P*

98
112
93
5

57
39
59
46
12
87
69
68
4

111
115
84
87
73
103
104
143
100
66

97
101
105
83
62
107
112
152
98
86

pl03
106
80
84
69
101
104
145
94
98

105
111
76
86
76
96
108
140
88
78

90
92
100
79
56
106
109
152
95
104

63
132

54
125

64
131

53
111

s

108
91
88
90
100
216

103
78
77
80
76
200

*

188

106

104
89
86
88
100
216
276
113
144
121
186
81
272
86

102
78
75
93
71
199
258
98
132
110
167
74
241
84

79
124

62
42
64
43
12
71
77

p6

6

pill
117
84
89
77
102
107
145
96
81

104
81
106
p82
*
*

87
# *

.

•

•
*
:

#
*

89
73
90
81
*

97
77
99
p66
*

-

'

: *

$
*
.

*

*
$

-

$

# •

*

* #

*

*

»

.

: S ..

••

154
71
219
84

*

*

* #

170
76
247
84

.

*

#

*

89
72
90
91

*
*
*
*

pe-Preliminary.
* Data not v e t a v a i l a b l e ,
l/
The seasonal adjustment factor-" f o r t h e Board's Index of automobile production
Have been t e n t a t i v e l y revised and t h e f i g u r e s may be obtained from the Division of
Research and S t a t i s t i c s ,



INDUSTRIAL PRODUCTION
(1923-1925 average-100)
Adjusted f o r
seasonal v a r i a t i o n
1938
1939
July
July 1 June
MHSKALS
Bituminous coal
Anthracite
Petroleuan, crude
Lead
Zinc
Silver
Iron ore
p~Preliminary




p76
p53
pl76
*

91
*

74

71
59
170
70
90
107
67

60
47
161
64
69
99
38

Without
seasonal adjustment
1938
1939
July
July ! June
p69
p44
p i 79
*

84
*

160

63
51
173
71
87
105
132

55
39
165
52
64
64
78

Data not y e t a v a i l a b l e .