Full text of G.12.3 Industrial Production : January 27, 1949

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BOARD OF GOVERNoRPOF 1HE FEDERAL RESERVE SYSTEM^
0.12.3

For release in afternoon papers, Thursday, January 27, 1949
January 27, 1949
BUSINESS IHDBXES
' " S o ' b f t i y u j i * ton
1939 average 5 100 for factory employment and pa n f o l l 8 iJAN 2 8 1949
1925"25 average Z 100 fbr construction contracts;
1935*39 average = 100 fbr a l l other serii
Without'
Annual
seasonal adjustment
indexes
194B
1948
1947
19U7
Dec#. | Kov. Dec. 1/1948 | 1947
Dec. I Nov# Dec.
Adjusted far
seasonal variation

Industrial production
Total
Manufactures
Total
Durable
Nondurable
Minerals
Construction contracts,

P192

195

192

P190

195

190

192

187

P196
p228
pl74
pl56

201
229
178
161

198
230
173
156

P197
p227
P173
P151

201
229
179
160

197
228
171
151

198
225
177
155

194
220
172
149

189
154
217

197
161
227

m

169
lUB
187

159
137
177

value

Total
Residential

All other

Factory employment
Total
Durable goods

nondurable goods

Factory payrolls
Total
Durable goods

*
*
*

*
*

*

161.1 161.1
138.5 168.6
139.6 139.3

Department store sales.
value
Department store stocks.
value

*
*
*
*

*
*

Nondurable goods

Freight carloadings

*

»

161.5 161.9
188.6 188.8
140.3 li+0.7
378.1 365.7
428.3 411.0
329.1 321.4

157

1)7

11*9

120

l4l

e30T

p287

503

e491

P357

304

284

*

330

#

*
*

*
*
*
*

*
*
*

157
142
169
157.3
183.8
136.5
332.1
371.9
293.1

138

143

485

e302

286

244

•

255

139

• Data not yet available*
p-HPrel iminary#
e—Estimated#
Notet—Production, csrloadings, and department store sales indexes based on d a i l y
averages# To convert durable manufactures, nondurable manufactures, and minerals
indexes to points in t o t a l index, shown in Federal Reserve Chart Book, multiply
durable by •379# nondurable by .1469* and minerals by #152#
Construction contract indexes based on 3*%oonth moving averages, centered at
second month, of F# If. Dodgo data for 37 Eastern States# To convert indexes to
value figures, shown in Federal Reserve Chart Book, multiply total by
#110,269,000, residential 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 .
2 / Annual indexes for 1943 are preliminary*



IKmSTP.IAl PRoroCTION
(1§55>?9 averag8-.5-4.p0).
... - Without
Adjusted- rpr
Annual
seasonal .variation. . seas onal -edj us tme nt
indexes
-1940,..:,. •mi;
-1948,- - 1 194?
Dec. | KQV. Dec. Deo,. r Aov.i.,l)ec. V1943 I 1947
• «

M/JfUFACTURES

*

.

?

Iron and s t e e l
222
206
222
223
Pig iron
212
212 . 196
212
Steel
228
252
252 • 253
Open hearth
186
193 , " 19L
193
Electric
672 • 674 , 524
672
Machinery
288 p275
277
P275
Trans porta tion equipment p240
236
2I4U p2L0
Automob11es(inc1.parts) p203
200
206 p203
Sor.ferrous metals & prod. pl85
187
189 pl86
Smelting & refining
pl81
183 pl82
175
Lumber and products
pl44
145
153 P132
Lumber
P»i
133
139 pU4
Furniture
181 Pl67
pl67
169
Stone, clay & glass prod* p205
205 p200
203
Cement
218
196
195
192
Clay products
166 P177
pl72
172
Gypsum k plaster prod. p2?6
236 P2U2
241
Abrasive & asbestos
products
2I48 „2Wi , s245 .
P2h5
Textiles and products
163 • 'Pl57 '
164
Pl57
Cotton consumption
1^2
114
114
131
Rayon deliveries
207
322
317
,317
*
*
l,ool t e x t i l e s
166
162
* *
* .
Leather products
114
103
*
*
Taming
100
113
*
, Cattle hide leathers'
110
129
,
*
*
Calf & kip leathers
80
83
$
*
Goat 4 kid leathers
89
&
*
*
Sheep & lamb leathers
101
87
*
s
Shoes
111*
10U
HariUffaettired food prod. • • P158158 P156
159
1
heat flour
P129
133 pl28
133
Meatpacking
160
pi 76
P150
155
Other manufactured
foods
.166
164
pl65
pi&5
Processed f r u i t s *
vegetables
pii+i
11*2 . 138 , pllO
p--Preliainary.

r—Revised.

Annual indexes for 1948 are preliminary.




223
212
253
194
674
277
236
200
187
176
142
128
169
209
211
179

2U6

2lt8
164
122

322

162
104
103
115
83
86
92
104
161
13k
173

206
196
228
186
524
288
2a
206
189
183
140

119
181
200
178
172
2L2

2Q8 , 195
.196: ... 191
236 r234
, 183
177
618 r472
277 r276
230
23L
197 rl91
187
193
186
191
145
143
132
134
168
165
206
19?
172

206

2li4
163
151
287

2hh
.170

r240
163
143

113

110

166

175

163
225

2h2

136

312
169

272

163
116

132
187

107
121
78
88
95
pH5
- *59
13k
140

173

161

167

160

130

108

143

rl39

112

129
82
90
96
n4
15k

117
133
94
87
101
116

"*"*** *

*

147

154

* Data not yet available.

INDUSTRIAL PROEUCHCN
(1935-39 average z 100)

3.

Adjusted f o r
Without
Annual
seasonal variation seasonal adjustment
4
lyuo
1*B '
1947
% 7
JDeo# I Nov. Dec. Deo* J Sov. Deo. 4/1948 1 1 9 4 ?
MANUFACTURES

(cont'd.)

Paper and products
Paperboard
Newsprint production
Printing 4 publishing
Newsprint consumption
Petroleum & coal products
Gasoline
Fuel oil
Coke
Byproduct
Beehive
Chemicals
Paints
;
Soap
Rayon
Industrial chemicals
Rubber products

m~

P155
16?
100
P159
148
P230
piai
p202
*
*

pU35
P256
Pl50
p.199
p?08
pW*9
p200

169
195
94
156
XUA

p226
174
200
152
174
1*58
256
155
135
305
447
203

158 pl55
177
167
68
98,
146 pl62
131
155
p208 p230
160 - pl81
193 p202
*
179
*
171
440 ]?435
254 P257
155 P150
150 P139
299 P308
438 pW*9
p200
250

161
p226
1%
200
182
174
458
257
151
137
305
447
20)

pi64
pl45
Pl03
Pl77

167
155
116
177

P 89

225

169

195
95

163

157
177
87
150
138
p208
160
193
179
171

164
186
92
155
* 145
218
167

44O

255
155
150
299
438
250

196

*173
<'167
390
254
155
133
305
442
206

rl58
179
91
144
129

pl93
152
177
171
164
r407
251
154

R

138

285
432
226

MINERALS

Riels
Bituminous coal
Anthracite
Crude petroleum
Metals
Iron ore

pl64
pl45
pi03
Pl77
*

p—Preliminary#

167
155
116

177
124

162

164
111
166
117

118

*

162
164
ill

166
85

76

* Data not ye *

R—•Revised.

161
155
147
155
112
112
172
159
120 , r l l 8
218
202
8iva.ILFTBLO#

FREIGHT CARLOADINGS
(1935-99 average * 100)
Coal
Coke
Grain
Livestock
Forest products
Ore
Miscellaneous
Merchandise, l . c . l .

m

W

192

147
85
139
201
148
62

138 "m
198
191
138
155
90
96
158
144
178
190
156
144
66
74

"

I3l
201

138
82

123
62
139
60

m,

iw:
198
152
114
l4l
196
349
68

155
201
130
92
141
59
147
71

141
163
136
88
149
190
1L6
68

I47
182
150
107
153
181
148
75

Note1—To convert coal and miscellaneous Indexes to points In total Index, shown
in Federal Reserve Chart Book, multiply coal by .21) and miscellaneous by «548«
y Annual indexes f o r 1948 are preliminary.



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