Full text of G.12.3 Industrial Production : May 23, 1944

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AY 2 41944

BOARD OF GOVERNORS OF THE FEDERAL RESERVE S STEM

w

For release in afternoon papers
Tuesday, May 25, 1944

tilsti SI - 257
May 25, 1944

BUSINESS INDEXES
1956-59 average * 100 for industrial production and freight carloading6;
1959 * 100 for factory employment and payrolls;
1925-25 average » 100 for all other series

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 carloadings
Department store sales. value!/
Department store stocks,, value£Z

Adjusted for
seasonal variation
1945
1944
Apr. 1 Mar.
Apr,

Without
seasonal adjustment
1543
1644
Apr.
Apr. 1 Mar.

p240

242

257

p239

259

236

P 258
p562
pl74
pl59

260
567
176
159

266
566
176
151

p267
p562
pl71
pl38

258
566
171
133

255
366
173
127

p58
pl8
p56

40
17
69

65
55
87

p45
p21
p62

40
18
58

71
59
98

pl61.9
p221.6
pi14.6

164.2
226.5
116.0

168.4
225.8
125.2

pl61.2
p221.5
pllS.6

mm

#

mm

mm

*

mm

mm

*

mm

«Mm

163.7
225.0
116.4

167.7
225.6
122.0

324 .6
454.9
196.9

309.7
450,4
191.7

158

140

156

136

132

132

pl40

164

128

pl40

143

133

*

101

67

*

103

90

1/ & revised index with the average of the years 1955-59 as the base will appear
in the June BULLETIN.
2 / This index, recomputed to a 1956-59 average base, will appear in the June
BULLETIN.
Note.—Production, carloadings, and department store sales indexes based on daily
averages. To convert durable manufactures, nondurable manufactures, and minerals
indexes to points in total index, shown in Federal Reserve Chart Book, multiply
durable by .579, nondurable by .469, and minerals by .162.
Construction contract indexes based on 3-month moving averages, centered at
second month, of F. W . Dodge data for 57 Eastern States, To convert indexes to
value figures, shown in the Federal Reserve Chart Book, multiply total by
1410,269,000, residential by #184,157,000, and all other by $226,132,000.
Employment index, without seasonal adjustment, and payrolls index compiled
by Bureau of Labor Statistics.



2.
INDUSTRIAL PRODUCTION
(1935-39 average =. 100)

,*

•

e

-Adjusted for
seasonal variation
* 1944 < 1648
Apr,. 1 Mar.
hpr.

Without
seasonal adjustment
1642
1944
Apr.
Apr. I Mar.

MANUFACTURES
Iron end steel
Pig iron
Steel
Open hearth
Electric
Machinery
Transportation equipment
AutoeiobileB
Nonferroue metals and products
Smelting and refining
Lumber and products
Lumber
Furniture
Stone, clay, and glass products
Plate glass
Cement
Clay products
Gypsum and plaster products
Abrasive and asbestos products
Textiles and products
Cotton consumption
Bayon deliveries
Wool textiles
,
Leather products
Tanning
Cattle hide, leathers
Calf and kip leathers
Coat and kid leathers
Sheep and lamb leathers
Shoes
Manufactured food products
Wheat flour
Meatpacking
Other manufactured foods
Processed fruits and vegetables
Tobacco products
Cigars
Cigarettes
Other tobacco products

p213

214
206
236
238
191
192
570
549
p447
p454
p745
P.735
p230 • p234
*
286
297
p289
• pi 26 • 129
pll9
119
pl46
149
pl63
• pl6o
es
59
*
83
p!26
pi 28
pl62
pi 94
p305
p306
pl52
151
151
150
pi 97
191
*
166
#
112
*
107
113
*
79
»
86
*
155
*
116
pl58
159
pll3
114
p200 '
202
plGO.
pl61
pl55
pl58
126
123
89
92
161 ;
154
73
73
*

209
p213
*
198
236
235
192
186
549
580
p447
441
p735
717
p230
206
*
259
p289
262
pl27
130
pll8
121
pl46
149
pl60
175
59
39
*
135
142
pl23
pi 81
204
p306
313
p!52
157
166
151
plP7
181
167
•
119
*
122
*
132
'
'
' 91
*
88 '
*
166
*
117
142
p-144
109
pl08
147
pl84
146
pKl
129
p94
120
132
69
103
160
150
86
73

p--Preliiaiiairy.




214
206
238
191
570
t>454
p745
pZ34
286
297
124
110
149
pl62
59
68
pi 24
pl87
p306
151
150
191
155
112
106
113
77
86
150
116
142
111
187
p!42
p87
117
92
143
73

209
198
235
186
580
441
717
' 206
• 259
262
130
120
149
172
39
128
128
202
513
1E7
166
101
167
118
121
13288
90
162
117
150
105
136
130
79
125
103
149
86

* {tot* not yet available.

%

INDUSTRIAL PRODOCTTOI
(1935-39 average « 100)

.

.

"

Adjusted for
seasonal variation
i- • • <
1944.
1643
Apr,
Apr, 1 Mar.

• .

Without
seasonal adjustment
1943
1944
Apr,
Apr. I Mar.

Manufactures (cont'd,).
Paper and products
Paperboard
l ev sprint production
ing and publishing
c sprint consumption
Ktroleum and coal products
Petroleum refining
Gasoline
Fuel oil
Lubricating oil
Kerosene
.
Coke
Byproduct
Beehive
Chemicals
Rayon
Industrial chemicals
Rubber
MimWLg

p467
p337
p254
p403
p237

137
147
77
100
83
232
241
pl28
163
130
130
174
165
488
p341
p231
p403
p242

141
150
88
113
101
171
171
101
144
114
121
169
159
519
382
210
350
222

142
pl55
fl29
pl58
pl24

141
155
123
137
126

131
151
129
124
l3o

*

152
*

plQO
84
*
*

p!30
*
#

*
*
*

•
p467
pZ39
p234
p403
p237

157
147
77
101
86
232
241
pl28
163
128
132
174
165
488
p343
p231
p403
p242

141
150
89
116
107
171
171
101
144
118
124
169
159
519
334
210
350
222

142
pl65
pl29
pl28
pll2
pl80

141
155
123
137
85
76

131
151
129
124
105
132

.

*

» 152

•

pl03
39
*

•
pl30
m
*

»
*

\

Fuels
Bituminous coal
Anthracite
Crude petroleum
Metals
Iron ore

* Data not yet available.

p—Preliminary or estioated.
FREIGHT CARLOADINGS
(1955-39 average « 100)

Coal
Coke
Grain
Livestock
Forest products
Ore
Miscellaneous
Merchandise, l.c.l.

141
190
123
120
141
pl90
146
67

140
185
156
131
141
174
149
67

133
186
140
118
138
153
145
62

141
186
108
107
141
168
144
68

140
187
125
103
141
51
142
67

133
183
124
105
138
106
143
- 63

Kote.--To convert coal and miscellaneous indexes to points in total index. shown in
the Federal Reserve Chart Book, multiply ooal by ,213 and miscellaneous by ,548,