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BOARD (F GOVERNORS OF TbE FBDE2AL RESERVE SYSTESi
vi

For release in afternoon papers
Saturday, January 23, 1943

R<iS BI - 221
January 22, 1943
BUSINESS INDUCES

1936-39 average * 100 for industrial production and freight-oar loadings?
1938 » 100 for factory employment and payrolls;
1923-25 average = 100 for all other series
Adjusted for
seasonal variation
T55T
1942'
Deo. | Hov.
Bee.
Industrial production
Total
Manufactures
Toted
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-car loadings
Department store cales, value
Department store stocks,value

pi96

194

168

Without
seasonal adjustment
1941
H ? T
Deo, j Hoy.
Dee e

Annuel
indexes
1S42 | 1941

pl92

194

164

pl81

156

d208

206

206

279
146
129

174
214
141
132

p204

p283
pl47
pl26

pl43
pl21

279
146
132

171
211
138
126

pl90
p250
pl41
pl2S

161
193
136
125

pl96
plOl
p273

196
90
28§

123
69
167

pl66
p86
p213

174
66
246

59
130

168
82
237

122
89
149

165.6
200.8
119.9

138.1
164.2
117.6

166.6
201.6
121.1

138.3
164,6
117.6

130.3
151.3
113.7

270.6
366.6
176.6

191.0
236.0
147.1

165.3
199.3
132.0

•

/*

• *
* » •

p280

*
*
. *

' * .

*
*

134

154

137

126

140

128

138

130

pl23

136

111

p218

167

197

123

110

plOS

92

pl21

86

*

*

83

p»-Areliminary or estimated.'
'
# — D a t a not yet available.
Bote«—Production, oarloadings, and department store sales indexes based on daily
averages. To convert durable manufactures, nondurable manufactures, and minerals
indexes to points ia total Index, shown 1* 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 at
second month, of F . W . Dodge date for 37 Eastern States. To convert indexes to
value figures, shorn in the Federal Hcsyrvt.Cht.rt Book, multiply total by $410,
269,000, residential by *184,137,000, und all other by $226^132,000.
Employment index, without.seasonal adjustment, and payrolls index compiled
by Bureau of Labor Statistics*




2.
INDtJGfRKU, PRODUCTION
(193E-3& average, - 100)
Without
seasonal adjustment
• 1942
1941
Deo. | Nov. Dee,

Adjusted for
seasonal variation
1941
1942
Dec #
Dec. | Nov.
MAKUFACnlHES
Iron ami steel
Fig iron
Steel
* Open hearth and Bessemer
Electric
Machinery
Transportation equipment
Honferrousfiietals.andproducts
Lumber and products
Lumber
Furniture
Stone# clay, & glass products
Cement
Polished plate glass
Textiles and products
X2etton consumption
Hiyon ide l i w ries
Wool textiles
Leather products
Tanning
]
.Cattle hide, leathers
Calf and kip leathers
. boat dad kid leathers
Shoes
Manufactured food products
Wheat flour
Meatpacking
Other manufactured foods
Tobacco products
Cigars
Cigarettes
tomifuciured tobacco & muff
Pap^r and products
fap^rboard
Scwsprint production
Printing and publishing
lfetreprint consumption
p—Proliiainery or estimated.




Annual
• Indexes
19421 1941

.
p200
pi 97
221
179
523
p336
p542
p201
pi 23
pll9
pl32
*

*

32
plS4
163
pi 78
#

pl25
*
*

*
*

pl?9
pl56
126
pl56
pl62
*

*
'

*

#

151
*

pll6
106

203
199
224
182
627
327
526
197
126
122
134
152
178
34
168
171
177
161
126
118
138
102
. 81
129
#52
116
147
159
140 .
93
174
98
135
157
100
lie
110
'

191
190
205
176
411
243
278
193
138
132
149
167
191
67
164
155
179
178
128
123
135
66
117
131
137
109
142
137
129
139
136
95
155
136
lOti
130
115

p200
pi 97
221
179
523
p336
p542
p201
pll3
>101
pl37
.»
*

39
pi 54
163
pi 78

»

pll3
*

*
*

»
pl08
pl48
121
DISS
pi 56
" *

*
*
*

,#
134
»

#17
108

203
199
224
182
527
327
526
167
125
118
140
157
126
39
158
171
177
161
115
120
143
97
79
111
pi 50
112
16-J
160
141
117
167
97
134
137
103
120
115

plOS
191
IBS190
pi 93
ISO
205
197
218
179
175
176
495
557
411
p2£#l
243
210
278
p417
234
192
pl86
185
128
134
pl?l
pl26
129
113
155
pl41
145
147
pl51
152
*
153
154
80
p41
126
154
pi 5 5
151
155
168
171
179
166
0173
160
178
pi 55
116
pi 20
121
125
pl£2
119
137
pl42
130
99
91
p93
lis
p96
106
110 ,'pll9
123
130
pH3
128
104
107
104
155
pl48
129
151
pl47
129
nl30
120
110
107"" ' pll4 112
121
pl49 , 151
83
pS4
99
146
142
pl40
166
141
154
107
pll2
112
131
pll5
124
107
.117
103

*Data not yet av^Tilaolb.

I

INDUSTRIAL PRODUCTION
(1955-39 average » 100)
Adjusted for
seasonal variation
1941
1942
Nov.
Dec.
Deo.

Without
seasonal adjustment
1941
1942
Deo. I Bdv,
Deo.

1942 1 1941

133
134
. 136
132
131
127
161
151
501
153

pl22
pll5
pllO
pi 29
pl22
pllO
pi 64
pl54
p498
pi 72

128
125
126
124
124
117
152
144
r415
139

131
144
96
129
98

pi 25
>145
pll7
pile
pl49
229

122
129
110
120
149
197

Annual
indexes

MANUFACTURES (Cont'd)
Petroleum and coal products
Petroleum refining
Gasoline
Fuel oil
Lubricating oil
Kerosene
Coke
Byproduct
Beehive
Chemicals

pl66.
pl57
p470
pl93

122
116
109
137
114
110
166
156
501
193

139
135
139
ISO
132
126
161
151
601
152

, # . 123
#
117
pl06
110
*
138
•
114
*
113
pi 66
166
pl57
156
p470
501
pi 94
194

pl24.
pl29
p99
pl24
pl41
223

127
136
121
124
138
211

129
ISO
92
132
162
205

pl26
pl45
pl05
pl22
p87
19

*
*

pl08
*
*
*

>

KIMERALS '
Fuels
Bituminous coal
Anthracite
Crude petroleum
Metals
Iron ore
p—Preliminary or estimated.

r—-Revised.

130
154
124
121
147
229

# #* .

» Data not yet available.

FREIGHT-CAR LOADINGS
(1935-59 average = 100)
Coal
Coke
Grain
Livestock
Forest products
Ore
Miscellaneous
Merchandise, l.c.l.

116.
177
143
117
137
210
146
69

125
176
126
114
140
221
144
St-

ill
167
124
101
145
246
149
100

132
193
130
113
122
59
135
56

139
186
123
144
133
206
150
59

125
182
113
97
129
69
138
96

135
181
121
. 104
165
206
146
69

183
168
112
91
139
183
136
100

Note,—To convert coal and miscellaneous indexes to points in total index, shorn
in the Federal Reserve Chart Book, multiply coal by ,213 and miscellaneous by
.548 .