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H.8a BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM FOR IMMEDIATE RELEASE December 22, I960, ? • t i INTERPRETATION OF PERCENTAGE CHANGES DURING CHRISTMAS SEASON; Since sales rise sharply with the approach,, o # Christmas, it is important in evaluating the weeklyyear-to-year percentage changes to note that the comparison weeks in 1959 have the advantage of ending two days nearer to Christmas. Correspondingly, th^JJ960 weeks are at a disadvantage in these comparisons. If sales were available for exactly comparable calendar periods in both years, the resulting percentage changes probably would be somewhat more favorable than those shown below. WEEKLY DEPARTMENT STORE SALES Percentage change from corresponding period a year ago Federal Reserve One week ending District Dec. 171 Dec. 10 ID,ec. 3lNov. 26 - 3 - 3 - 3 3 3 8 - 7 2 2 3 - 3 0 0 - i 0 - 3 -10 - 3 - 6 - 5 -10 - 4 - 3 3 9 2 - 1 1 7 3 + 2 0 - 3 - 1 - 1 - 7 - 2 - 3 + 1 0 + 2 0 + 2 -6 - 7 -9 -10 Richmond Atlanta Chicago St. Louis -12 + 2 0 + 4 r- 3 - 2 + 1 Minneapolis Kansas City Dallas San Francisco + + - r — I960 Nov. Nov. Dec. Dec. Dec. • - 4 1 3 l 1 - 9 - 8 - 6 -10 -14 -12 -19 - 2 U. S. Total + + + + 4 0 - 3 0 Boston New York Philadelphia Cleveland 2 6 1 4 Jan. 1 to Dec. 17 Four weeks ending Dec. 17 - 5 - 5 - 8 U» 5. weekly -index, without seasonal adjustment. 1947-49=100 i f 19 26 3 10 17 170 / ~rl7Jv 231 296 305 1252 Nov^-21Nov. 28 Dec. 5 Dec. 12 Dec. 19 176 249 298 318 1958 -—Nov. Nov. Dec. Dec. Dec. 22 29 6 13 20 169 171 244 293 304 r—Revised. 1/ For description and weekly indexes for the period January 1937 to March 1958 see Federal Reserve Bulletin for April 1958,-pp. 412-421. Weekly indexes at the district and city levels are published by several of the Federal Reserve Banks,
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