View original document

The full text on this page is automatically extracted from the file linked above and may contain errors and inconsistencies.

% OF GOVERNOR'S OF THE FEDERAL RESERVE SYSTEM
D
moi
HojP
Saturday, June J);

June 9, 1939
R&S r t p - 174

papers

DEPARTMENT STORE SALES IN M Y 1939
A
Preliminary Report
Department s t o r e s a l e s decreased in May, and t h e Board's seasonally a d j u s t e d
index declined t o 85 as compared with 88 i n A p r i l . The index i s shown below f o r
t h e l a s t t h r e e months and f o r May 1938,
May

1939
Apr#

Mar.

1938
May

85
87

Index of department s t o r e s a l e s
1923-1925 average = 100
Adjusted f o r seasonal v a r i a t i o n
Without seasonal adjustment

88
88

88
82

78
80

Total s a l e s in May were 13 percent l a r g e r t h a n i n May 1938, r e f l e c t i n g in
p a r t t h e f a c t t h a t t h e r e was one more business day t h i s year t h a n l a s t . In t h e
f i r s t f i v e months of t h e year s a l e s were 3 percent l a r g e r than in t h e corresponding period of 1938,
REPORT BY FEDERAL RESERVE DISTRICTS
Number
Percentage change Number
from a year ago of s t o r e s of c i t i e s
May* Five months r e p o r t i n g included
+13

+3

544

244

Boston
New York
Philadelphia
Cleveland

+11
+8
+24
+18

+1
*1
+5
+5

51
56
30
38

31
27
14
11

Richmond
Atlanta
Chicago
S t . Louis

+16
+17
+14
+16

+3
+7
+6
+5

55
22
89
34

27
17
28
17

Minneapolis
Kansas City
Dallas
San Francisco

+11
+8
+7
+5

+3
0
+1
+2

35
22
18
94

16
16
9
31

Total
Federal Reserve d i s t r i c t s :

* May f i g u r e s p r e l i m i n a r y ; i n most c i t i e s t h e month had one more
b u s i n e s s day t h i s y e a r than l a s t y e a r .