Full text of G.12.3 Industrial Production : September 27, 1948

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BOARD OF GOVERNORS OF KB FSDERAL RESERVE SVstb»-

,

For release in afternoon papers, Tuesday, Septen
bepfcdsfteJ 921943948

G.12.3

BUS D ESS INDEXES

y

pP

1939 average = 1 0 0 for f v c t o r y employment and payrolls;
1925-25 average - 100 f o r construction c o n t r a c t s :
1935-39 average s 100 f o r a l l other s e r i e s .
Adjusted f o r
seasonal v a r i a t i o n
w
Aug. 1 J u *y j m
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 carloatiings

Without
seasonal atijustrao:
"i^r
r
w
Aug. | July |" f.U'

pl90

186

182

Pl93

187

105

p!96
p221
P176
P159

191
219
169
153

188
210

P199
p223
pl 79
pl64

193
220
170
158

191
212
173
155

205
18?
219

166

224
189
252

173
148
194

159.6
184.7
139.8

156.5
180.7
157.1

pl60.0
plBL.6
P&0.5

im

150
150
179

p l 6 l . 6 158.4
pl65.7 184.6
P142.7 137.7
*
*
*

146

157,8
161.5
1)9.1

360.1
403.1
318.1

297.0

143

148

331.5

566.0

138

143

Department s t o r e s a l e s , value

516

284

242

256

Department s t o r e stocks, value

273

228

274

245

p—Preliminary.

142

* Data not yet availu t~7o~

Hot© t--Production, oar loadings, and department store sales indexes based on daily
averages# To convert durable manufactures* nondurable manufactures, and minerals
indexes t o points in t o t a l index, shown i n Federal Reserve Chart Book, multiply
durable by *379, nondurable by M69, and minerals by .152*
Construction contract indexes based on J-month moving averages, centered a t
second month, of F* «.* 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
4L10,269,000, r e s i d e n t i a l by vl8b,l)7,000 and a l l other by v22L,^32/XK)*
Employment index, without seasonal adjustment, and payrolls index compiled
by Bureau of labor S t a t i s t i c s .



INLU3TR1A1 PROiAJCTIO':,
(1955"'9 average - 100)
tv i thou t
seasonal adjustment
1948
1947
«ug. I July 1 Aug.

Adjusted f o r
* seasonal v a r i a t i o n
1947
19WL .
Aug. 1 J u l y . .
Aug.
fimP^TURBS
Iron And' s t e e l
Pig i r o n
Steel
i
Open hearth
electric
Machinery i
Transportation equipment
*4itu3obilcs, ( i n c l * p a r t s )
Konferrous rotals L products
Smelting and r e f i n i n g
LurN*r and products
Jiuiber
F**niture
S^mc, clay and glass products
H a t e glass
Cement
Clay products
Oyosum and p l a s t e r products
i.orosive i, asbestos products
Textiles and products
Cs>tton consi raption
P lyon d e l i v e r i e s
Viool t e x t i l e s
Leather products
Tanning
C a t t l e hide l e a t h e r s
Calf and k i p l e a t h e r s
Goat and kid l e a t h e r s
Sheep and lamb l e a t h e r s
Shoes
Manufactured food products
wheat f l o u r
Meatpacking
Other manufactured foods
Processed f r u i t s I vegetables
p--prelinlnery.




•

206
199
233
178
620
p2
p231
P199
pl85
pl92
pll;9
plu5
plul
p20L
172
*

pi 71
p253
p£*3
plov
127
317
*

Pill

S

. *
*
*

•

pl 23
pi 55
pii*5
•pi 18
pl62
Pi 17

200
106
228
176
595
268
236
205
185
138
li:2
135
157
,200
123

188
187
205
170

Udh
267
215
180
170
180
1L2
133
1.0

m

151
171
162
£25
216
15l
1>0
267
r

lib

169
.

2W
155
115
523
.1)6
96
.95
109
65
30
85
• 96
160
1W
135
l^o
142

l )6

'

206
199
233
170
620
p269
p23V
P 199
pl85
p!92
pl60
ploO
pi 61
p2l2
172
pl76
p240
p2U3
pl66
127
317
.

*

116
fill
*
135
*
l;0
*
93 I
*
87 '
*
101
pi 2 5
117
ri/i:
lr7
iL^ . P l %
pioL
H5
lo0
pi 35
pS22

200
186
228
176
595
268
236
205
185
167
151
UU8
157
201
123
207
1c9
238
2U6
153
115
323
156

*

90
103

#

79
79
9o
171
1U1
126
17L
18U

IBSIB?
205
170
45b
267
213
180
170
100
151

47

160
207
151
193
166
226
216
1%.
130
267
156
116
lib
126
v
7

til

105
117
173
.lit?
127
, 186
263

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

3.

INIX'S ITilAL PROitiC^B
(1955-39 averare = 100)

...

«•'

,

.

Adjusted f o r
seasonal v a r i a t i o n
1948
1547
Aug. I July
Aug.

Without
seasonal adjustment
1948
1947
Aug.
Aug. 1 July

^UiUPACIUltSS (Cont'd.)
Paper and products
,
Paperboard
Hewsprint production
P r i n t i n g and publishing
Newsprint consumption
petroleum and coal products
Gasoline
FUel o i l
Coke
Byproduct
^sehrre
Chemcals
Paints
Soap
a v or
Industrial chemicals
Rubber products

l$Z

S
PW&
p260
pl63
pl27
1 P5l6
p450
p204

150
165
93
147
145
P217
170
192
170
166
31G
251
161
123
511
433
200

178
94
145
133
P201
163
180
171
164
415
249
152
155
294
431
210

pl66
P158
pi 17
P175
pii4

160
143
100
172
114

155
151
114
161
117

Plu3
184
96
pl56
149
P217
pl?2
P196
*

p464
p256
pl6l
P129
P316
P450
P204

149
165
91
157
125
P217
170
192
170
166
518
247
159
122
311
433
2.3

156
178
93
139
120
p201
163
180
171
164
415
245
151
136
294
431
210

pl66
P158
Pll7
Pi 75
pl48
P318

160
143
100
172
349
325

155
151
114
161
151
326

153

144
17?
189

146
177
175
87
160
294
150
73

riu3
184
95
pi49
134
p217
pl72
pl96
.
•

*

* .

MIN2RA18
FUels
Bituminous coal
imthraeite
Crude petroleum
ratals
Iron ore

"

FREIGHT C<iKlOADIKGS
(1955-59 average a 100)
Coal
Coke
Grain
Livestock
Forest products
Ore
1 iscellaneous
Merchandise, 1 . c . 1 .

155
194
144
80
162
182
145
66

144
183
150
86
165
135
141
64

146
184
162
92
152
190
149
73

187
156
76
171
273
146
67

66

165
•29o
142
63

Notes—To convert coal and miscellaneous indexes to points in t o t a l index, shown
in Federal Reserve Chart Book, multiply coal by #213 and miscellaneous by .548.