Full text of G.12.3 Industrial Production : June 18, 1940

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BOARD OF%OVERNORS OP THE FEDERAL RESERVE SYSTEM
R&S BI - 19(
June 18, 194(

Released for publication
Wednesday morning, June 19
BUSINESS INDEXES
(1923-1926 average .« 100)
Adjusted for
seasonal variation
1939
1940
May
May
1 Apr.
Industrial 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-car loadings
Total
Miscellaneous
Department store sales, value
Department store stocks , value

Without
seasonal adjustment
ir,%o
1940
' May
May
1 Af.

plOS

102

92

p!09

104

94

pl03
p97
pl07
pi 20

98
90
106
123

91
71
106
98

plO?
pl07
pl07
pi 20

103
99
106
111

24
78
107
97

p65
p64
p65

64
62
66

63
55
68

p78
p?6
p7S

73
73
74

75
b5
84

*

*
*

99 .2
95.0
103.3

.«

.•

• e

• *

••

..

93.3
82.9
103.3

*

• •

*

* .

*

••

*
*

*

99.6
96.0
103 .0

93 .0
84.0
101.6

96.3
97.2
95 .3

85.0
78.3
91.9
'

72
77

70
74

62
70

71
80

67
76

62
73

p87

89

65

p89

86

87

*

69

66

*

71

68

p-*Pre 1 imin&ry•
* Data not yet available.
Note:—Production, carloadings, and department store sales indexes based on dally
averages. To convert durable and nondurable manufactures Indexes to points in
total index of manufactures figures, shown in Federal Reserve Chart Book, multiply
durable by .463 and nondurable by .537.
Construction contract indexes bared on Z-month moving averages, centered at
second month, of P. W. Dodge data for 27 Eastern States. To convert indexes to
value figures, shown in Federal Reserve Chart Book, multiply total by $410,269,000, residential by $184,137,000, and all other by @226,132,000.
Employment index, without seasonal adjustment, and payrolls index compiled
by Bureau of Labor Statistics.



2.

INDUSTRIAL PRODUCTION
(1923-1926 averare * 100)
Adjusted for
seasonal variation
1940
1939
May
May
1 Aar.

Without
seasonal adjustment
1939
1940
May
May 1 Apr.

MANUFACTURES
Durable goods
Iron and steel
Pig iron
Steel ingots
Automobiles
Plate glass
fin deliveries
Beehive coke

109
101
110
p95
130

92
90
92
105
136

73
55
75
73
89

plO

8

Nondurable goods
Textiles
Cotton consumption
Silk deliveries
Slaughtering and meat packing
Hogs
Cattle
Calves
Sheep
Wheat flour
Sugar meltings

p99
116
55
100
96
102
106
145
92
78
plOO

Leather and products
Tanning
Cattle hide leathers
Calf and kip leathers
Goat and kid leathers
Petroleum refining
Gasoline
Kerosene
Fuel oil
Lubricating oil

2

119
103
120
pll5
136
135
p9

102
95
102
128
149
147
9

79
56
82
88
93
102
2

95
113
64
103
96
109
106
144
95
75

104
110
76
94
84
104
108
142
95
72

pi 00
119
54
97
92
99
120
142
87
87

98
121
64
92
86
96
115
135
86
87

104
114
75
92
81
101
122
139
90
81

115
93
91
89
103
211

p92

*

101
82
80
72
97
219

*

131

99
80
80
65
96
219
273
130
153
142

106
88
87
85
96
211
269
119
143
119

77
56
192
120
117

40
73
177
SO
69
82

•«

*
*
*

*

,,

•.

..

••

*
#

*
*
*

• *

• •

*

124
• e

*
*

••

MINERALS

Bituminous coal
Anthracite
Petroleum, crude
Zinc
Silver
Iron ore
p—Prel Imlnary.


 • •

p91
p57
pl87
111
*

110

92
54
192
115
116
••

46
73
175
89
71
55

p79
p57
pl89
112
$

166

••

* Data not yet available,