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^ W N O R S Qf . //^ l OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM i b r a e x I release in evt^mg papers r., Senttmll.SK^ September 8 , 1938 R&S r t p - 165 DEPARTMENT STORE SALES IN AUGUST 1938 P r e l i m i n a r y Report Department s t o r e s a l e s showed l e s s t h a n t h e u s u a l s e a s o n a l i n c r e a s e from J u l y t o August and t h e B o a r d ' s a d j u s t e d index was 83 p e r c e n t of t h e 1923-1925 average as coi.ipared w i t h 85 i n J u l y and 82 i n J u n e , 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 August 1937. Index of department s t o r e s a l e s 1925-1925 average = 100 Adjusted f o r seasonal v a r i a t i o n Without s e a s o n a l a d j u s t m e n t August 1938 July 83 65 85 58 1937 August June 82 79 92 72 T o t a l s a l e s i n August were 6 p e r c e n t l e s s and i n t h e f i r s t e i g h t months of t h e year 10 p e r c e n t l e s s 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 of 1937. REPORT BY FEDERAL RESERVE DISTRICTS P e r c e n t a g e change from a y e a r ago August* Total Eight months Number of cities included Number of stores reporting 248 530 -6 -10 +2 -7 -13 -15 -6 — 8 -14 -16 52 • 58 31 30 32 30 14 10 Richmond Atlanta Chicago S t . Louis 0 +2 -8 -3 -4 -4 -15 -7 56 20 68 34 27 15 29 17 Minneapolis Kansas C i t y Dallas San F r a n c i s c o +2 -6 -1 -6 -3 -7 -1 -8 39 21 22 99 F e d e r a l Reserve d i s t r i c t s : Boston New York Philadelphia Cleveland • 19 14 10 31 * 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 one more b u s i 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 ,
