Full text of G.12.3 Industrial Production : December 20, 1946

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BOARD OF GO'

OF THE FEDERAL RESERVE SYSTS^f

for release in morning papers, Saturday, December 21, 1946
0.12.3

^December 20, ,l$k6
—
- •• . J^

s
. HBIHB5S- OBEXES

1939 average = 100 f o r factory employment and-$ay c o l l s ;
1923-25 average = 100 f o r construction contracts;
1935-39 average s 100 f o r a l l other s e r i e s .

'

i

Without
Adjusted f o r
..Seasonal adjustment
-_.82SS<
1<K ^ T I S T S - 1Q4<T
f 1945
Oct.
Hov. 1 Oct. ! Hov.
Nov.
Nov.
I n d u s t r i a l production
Total
Manufactures
Total
Durable
Nondurable
Minerals
Construction contracts, value
Total
Residential
All other
Factory employment
Total
' Durable goods
Nondurable goods
Factory payrolls"
Total
Durable goods '
Nondurable goods
Freight c&rloadlngB
Department s t o r e s a l e s , value
Department s t o r e stocks., value
p—Preliminary.

pl82 /
P190

p2l4

pl71

P137
*

.

#

'

» ..
pl48.8
P171-7
P130.7

181

168

pl82

184

167

• 188
213
168
144

173

P191
p2l4
P172
P135

191
214
172

173

145

94
44
134

140

148
146.4
169.3
128.2

191
158
138

127.8 P149.2
143.3 P171.8
115.6 P131.3
i
!

-•WW
. ,

- -

.

*
*
*

. -

—

*

*

— .

*

146

13.8

192
158
134
83

13.6

42
115

146.7
169.4
128.9

128.2

286.0

222.9

140

143.5
116.2

318.2
254.6

204.5

241.8

137

139

133

141

149

136

P275

257

222

P336

278

273

237

165

I

267

179

*

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

Kote: —Production, carioadinge, and department Store sales indexes-based on d a i l y
averages. To convert durable manufactures, nondurable manufactures, and minerals
indexes t o points i n t o t a l index, shown i n Federal Reserve Chart Book, multiply
durable by .379, nondurable by .469, and minerals by .152.
Construction contract indexes based on 3-month moving averages, centered a t
second month, of I . W. Dodge data f o r 37 Eastern S t a t e s . To convert indexes to
value f i g u r e s , shown i n Federal Reserve Chart Book, multiply t o t a l by
#10,269,000, r e s i d e n t i a l by $184,137,000 and a l l other by $226,132,000.
Qrployment index, without seasonal adjustment, and p a y r o l l s index compiled
by Bureau of Labor S t a t i s t i c s .




INJWS SBIAL PRODD'
(1935-39 average . 1 6 ,

2#

Adjusted for
seasonal variation
1%6
| 1945
V* • - *:Gov. ^ Oct* f Ho v #

>, .Without

seasonal adjustment
1%6
1945
Hov. | Oct.
Hot.

MANUFACTURES
Iron and s t e e l
Pig iron
Steel
Open hearth
'
Electric
Machinery
Transportation, equipment
Automobiles
"
Monferrous metals and products
Smelting and r e f i n i n g
Lumber and products
lumber
Furniture
Stone, c l a y , and glass products
Plate g l a s s
Cement
Clay products
Gypsum and plaster products
Abrasive and asbestos products
T e x t i l e s and products
Cotton consumption
Rayon d e l i v e r i e s
Yt'ool t e x t i l e s
l e a t h e r products
Tanning ^
C a t t l e hide l e a t h e r s
Calf mid kip leathers
Goat and kid leathers
Shucp and lamb leathers
Shoes
Manufactured food products v
Wheat flour
^
^eutpackin^
Other r.urm lecture d foods
Processed f r u i t s & vegetables

pl?6
•

*

190
161
396
p275
p237
pl06
P187
*

plit2
pi34
pi 57
p201
152
162
. pi 50
p220
p246
pl71
16U
249
m
*
#

*
*
#
*
*

P157
P152
pl65
pl60
P178

183
1CJ
194
170
369
269
235
185
179
150
136
127
154
200
158
156
148
210
244
168
155
242
177
pll6
97
103
78
66
11*1
pl28
147
pi4o
115
155
168

167 P176
*
158
190
178
160
161
306
396
231 P275
252 P237
137 pl86
148 pl87
•
147
96 plitO
83 pi 31
123 P157
158 p205
152
4
115
175
119 P155
181 P224
215 p246
146 pl?l
164
133
226
249
*
150
*
116
#
109
*
125
•
83
*
51
*
140
*
120
150 1 pl 58
, 133 pl 54
155 P183
152 pl66
128 pl64

183
183
194
170
369
269
235
185
179
150
142
136
154
• 209
158
181
157
216
2ti4
168
155
242
177
pll6
98
1Q4
79
66
141
pl28
158
pl48
117
173
216

167
158
178
160
306
231
252
137
148
148
95
81
123
162
4
122
123
183
215
146
133
226
150
117
113
130
86
50
148
120
151
134
171
158
118

1 / This s e r i e s i s currently b*?sed upon man-hour s t a t i s t i c s for plants c l a s s i f i e d in
the -automobile and automobile.p&rts industries and i s designed to se&sure productive a c t i v i t y during tho month in connection with assembly of passenger cars,
trucks, t r a i l e r s , and busses; production of bodies, parts, and accessories, i n cluding replacement parts; and output of nonautomotive products Aace in tho
plants covered. Recently the l e v e l shown by t h i s s e r i e s has been much higher
r e l a t i v e to prewar - than the l o v s l shown by factory srJcs o f new passenger cars
and trucks * The difference i s accounted for in part by a sharp increase in production of replacement parts and by other changes in the composition of output#
I t appears, however, that the s e r i e s overstates tho current lovul o f t o t a l
output in these i n d u s t r i e s # Study i s being mede of production and man-hour
s t a t i s t i c s in an endeavor t o a r r i v e a t a mora accurate measure of overall
production in these i n d u s t r i e s #




INDUSTRIAL FRODCCTION
(1935-39 average 2 100)
Adjusted f o r
seasonal v a r i a t i o n
19W>
1945
, , I , Nov.
Nov. | Oct.

"mithout
seasonal adjustment
1W6
| 19^5
Sov. f Oct* | Kov#

MAKO*ACTLrRES (Cent* d)
and products
l ea.- n
: f
p; 3d!:ctlon
f : 1A ; wid publz:
1. •. -#i>l ••iiit eor.S'.imptiori
P e t i o . oj*a ana coal products
letroleus; r e f i n i n g
Gasoline
Ftiel o i l
L u b r i c a t i n g Oil
Kerosene
. Coke
Byproduct
Beehive
Chemicals
Rayon
I n d u s t r i a l chemicals
Rubber

»
175
84
pl 31
118
•

ll*2
158
81
114
96
174

P151
172
85

152
119
*

»

«*

pl46

pl46

*

*

*

*

p26l
p239
p279
ptao
P239

3S2
236
272
1*00
235

P139
Pll6
Pl23
P150

11*9
160
124
pll*8
111*

159
112
Htl
109

*
*

*

167

160

P151
172
85
155
125

•

*

*

pl46

pl46
•
*

li*2
158
82
118
10L*
171*
-

*

147
164
133
144
11*8
144
276
228
244
370
192

•

175
85
P137
129

235

li+7
164
133
lu3
110
244
276
230
244
370
192

ll*9
160
124
pl48
130
252

11*3
159
112
11*1
80
108

•
•

*
*

167
160
392
238
272

S

*

p26l
p240
p279
pLlO
p239

Loo

KINESIS
Fuels
i
Bituminous; coal
Anthracite:
Crude petroleum
Petals
'
Iron ore -

*

<

p—Preliminary or estimated.

*
*

•

*

P139
pll6
P123
P150

» Lata not yet a v a i l a b l e .
FREI&iT CAR10ADINGS
(1935-39 average • 100)

Coal
•
'
Coke
Grain
;
.livestock
Purest products
Ore •
;
k)<teolianeou4
k^rokmndise*;

' n r
166
11*7
136
151
157
ll*8
83

183
11*2
128
11*6
157
139
79

-

1

IhB
167
167
lli5
110
13a
133
74

11?
166
11*1*
171
11*8
169
154
84

11

W " "
160
11*2
197
151*
216
151
82

"IBF
167
164
183
108
114
139
75

feoi-e»—£0 eo: v e r t coal and miscellaneous indexes t o p o i n t s i n t o t a l index, shown
i n Federal:Reserve Chart Book, m u l t i p l y coal by .213 and misccllnnoous by »riU8.