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I
F E D E R A L

R E S E R V E

B O A R D
August 8, 1931
r and s rtp - 80

For release in morning papers
Tuesday, August 11

DEPARTMENT STORE SALES IN JULY 193I
Preliminary report

from
eral
days
I925

Preliminary figures on the value of department store sales show a decrease
June to July of somewhat more than the estimated seasonal amount. The FedReserve Board's index, which makes allowance both for number of business
and for usual seasonal changes, was $2 in July, on the basis of the 1923average as 100, compared with 95 in June and 97 in May.

In comparison with a year ago the value of sales for July, according to the
preliminary figures, was 8 per cent smaller. The aggregate for the first seven
months of the year was also 8 per cent smaller.
PERCENTAGE INCREASE OR DECREASE FROM A YEAR AGO

July*
Total
Federal reserve district:
Boston
New York
Philadelphia
Cleveland

January 1
to
July 11*

- 8

Number of
reporting
stores

Number
of
cities

— 8

523

231

,

-10
- 7
- 7
- 8

- 7
- 7

- 8
- 9

100
48
43
35

30
27
18
l4

Richmond
Atlanta
Chicago
St. Louis

- 4
-11
- 8
-12

r 3
- 9
-10
-12

55
28
19

22
17
34
9

Minneapolis
Kansas City
Dallas
San Francisco

-10
-15
-17
- 8

- 5
- 8
-11
- 9

20
26
16
75

11
15
6
28

58

•July figures preliminary; in most districts the month had the same number
of business days this yc&r and last year.