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BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM March 8 , 1939 R&S r t p - 171 For r e l e a s e i n evening papers Thursday, March 9 DEPARTMENT STORE SALES IN FEBRUARY 1939 Preliminary Report * * Department s t o r e s a l e s i n February continued a t about t h e same l e v e l as i n January, although an i n c r e a s e i s usual a t t h i s season, and consequently t h e Board's a d j u s t e d index d e c l i n e d 2 p o i n t s t o 86 p e r c e n t . 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 February 1938. Feb. 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 1939 86 69 Jan. Dec. 88 69 89 156 1938 Feb 88 70 Total s a l e s i n February and i n t h e f i r s t two months of t h e y e a r were 2 percent l e s s t h a n i n t h e corresponding p e r i o d s of 1938, REPORT BY FEDERAL RESERVE DISTRICTS Number Number Percentage change of s t o r e s of c i t i e s from a year ago February*|Two months r e p o r t i n g included -2 -2 541 238 Boston New York Philadelphia Cleveland +2 -6 -7 0 -1 -7 -6 -1 51 55 32 32 31 27 13 11 Richmond Atlanta Chicago S t . Louis -2 +4 -4 -1 -2 +4 -3 +1 49 23 88 34 23 15 28 17 Minneapolis Kansas City Dallas San F r a n c i s c o *3 -6 -4 +4 +1 -2 w 2 +2 35 20 20 102 15 15 10 33 Total Federal Reserve d i s t r i c t s : * February 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 t h e same number of b u s i n e s s days t h i s year and l a s t y e a r .
@FedFRASER