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, < r BQkRD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM
. - B B ^ -%jr
.iWr release in^qpoyning papers
Thursday,
12

August 10, 1937
R&S rtp - 152

DEPARTMENT STORE SALES IN JULY 1937
Preliminary Report
The Board's seasonally adjusted index of department store sales for July
was approximately at the same level as for the preceding eight months, reflecting
the usual summer decline in the volume of sales, The index for the last three
months and for July 1936 is shown below.
July

I

1937
June

94
65

Index of department store sales
1923-1925 average = 100
Adjusted for seasonal variation
Without seasonal adjustment

93
90

May
93
95

1936
July
91
63

For the first seven months of this year sales were 10 percent larger than for
the corresponding period of last year. The Midwestern industrial districts showed
the largest increases over last year»
REPORT' BY FEDERAL RESERVE DISTRICTS
Percentage change
from a year ago
Seven
months

July*

Number
of
stores
reporting

Number
of
cities
included

+4

+10

541

277

Boston
New York
Philadelphia
Cleveland

-2
+1
-2
+11

+5
+7
+7
+17

53
52
35
29

32
27
16
12

Richmond
Atlanta
Chicago
St. Louis

-3
+5
+10
+8

+5
+10
+14
+12

52
31
62
34

25
21
34
18

+6
+6
+10
+9

47
29
19
98

27
19
8
38

Total
al Reserve districts:

1

Minneapolis
Kansas City
Dallas
San Francisco

+9
+7
+2
+4

,

* July figures preliminary; in most cities the- month had the same number
of business days this year and last year, but in July this year there
were five Saturdays as compared with four a year ago.




Federal Reserve Bank of St. Louis, One Federal Reserve Bank Plaza, St. Louis, MO 63102