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GOVERNOR
SYSTEM

BOARD OF GOVERN}

For r e l e a s e i n e v e n i n g p a p e r s
Wednesday, March 10

March 9 , 1937
R&S r t p - 147

RESERV

DEPARTMENT STORE SALES 117 FEBRUARY 1937
Preliminary report
Department s t o r e s a l e s i n c r e a s e d from J a n u a r y t o F e b r u a r y "by more t h a n t h e
u s u a l s e a s o n a l amount. The B o a r d ' s a d j u s t e d i n d e x f o r t h e l a s t t h r e e months and
f o r F e b r u a r y 1936 i s shown "below:
3-936
Feb
Dec.
Jan.
Feb.
I n d e x of d e p a r t m e n t s t o r e s a l e s
1923-1925 a v e r a g e = 100
33
92
93
Adjusted f o r seasonal v a r i a t i o n
95
66
lbl
76
73
Without s e a s o n a l a d j u s t m e n t
T o t a l s a l e s i n F e b r u a r y were 10 p e r c e n t l a r g e r and i n t h e f i r s t two months of
t h e y e a r 11 p e r c e n t l a r g e r t h a n i n t h e c o r r e s p o n d i n g p e r i o d s l a s t y e a r .
REPORT BY FEDERAL RESERVE DISTRICTS
p e r c e n t a g e change
f r o m a y e a r ago
January 1
to
February*
F e b r u a r y 28
+10

+11

Boston
Eew York
Philadelphia
Cleveland

+ 6
+ 7
+ 6
+20

+ 9

Richmond
Atlanta
Chicago
S t . Loui s '

+ 7
+ 7

Minneapolis
Kansas C i t y
Dallas
San F r a n c i s c o

Total

Number
of
stores
reportinz

"Number
of
cities
included

53U

2.61

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

+ 7
+ 9
+16

53
55
32
30

.

32
2
9
14
12

+13

~ 8
h

55
29
70
33

26

+10
+17

+10
+ 7
+11

+ 6
+12

+ 7

39

25

+ 9

+ 9

+ 8

+ s

21
21
96

20

32
17
12

9
33

* F e b r u a r y 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 l e s s "busi
n e s s day t h i s y e a r t h a n l a s t y e a r , b u t i n F e b r u a r y t h i s y e a r t h e r e were
f o u r S a t u r d a y s a s compared w i t h f i v e a y e a r a g o .