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FEDERAL

RESERVE

BOARD
September 10, 19j4
R&S r t p - 117

For r e l e a s e i n evening papers
Wednesday, September 12
DEPARTMENT STORE SALES IH AUGUST, 1934
Preliminary report
P r e l i m i n a r y f i g u r e s on the value of department s t o r e s a l e s show an i n c r e a s e
from J u l y to August of c o n s i d e r a b l y more t h a n t h e e s t i m a t e d s e a s o n a l amount. The
Federal Reserve B o a r d ' s index, which makes allowance f o r d i f f e r e n c e s i n t h e number
of b u s i n e s s days and f o r u s u a l seasonal changes, was 79 i n August, on t h e b a s i s of
t h e 1923-1925 average a s 100, compared w i t h 73
July and 74 i n J u n e ,
I n comparison w i t h a y e a r ago, t h e
l a r g e r , The l a r g e s t i n c r e a s e s compared
A t l a n t a , and Chicago d i s t r i c t s , while a
Boston d i s t r i c t . The a g g r e g a t e f o r t h e
cent l a r g e r t h a n l a s t year*,

value of s a l e s f o r August was 2 per cent
with l a s t year a r e shown i n t h e Richmond,
decrease from a y e a r ago i s r e p o r t e d f o r t h e
f i r s t seven months of t h e year was 15 per

PERCENTAGE INCREASE OR DECREASE FROM A YEAR AGO
January 1
to
August 11*

Number of
reporting
stores

Number
of
cities

2

+ 15

460

229

4
0
3
0

9
g
+ 12
+ 23

52
50
36
18

30
25
15
11

Richmond
Atlanta
Chicago
S t , Louis

4- 10
+ 6
+ 6
0

+ 16

45
34
47
37

19
21
26
20

Minneapolis
Kansas City
Dallas
San F r a n c i s c o

+
+

36
17
20
68

17
12
8
25

August*
Total
Federal Reserve d i s t r i c t s :
Boston
New York
Philadelphia
Cleveland.

+

—

+

+

0
5
2
5

+

+

+ 31
+ 21
+ 13
+ 10
+ 17
+ 25

+

9

* August 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 y e a r and l a s t y e a r .