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SURVEY OF CURRENT BUSINESS
WEEKLY SUPPLEMENT
UNITED StAtE'S DEPARTMENT OF COMMERCE
BUREAU OF FOREIGN AND DOMESTIC COMMERCE
WASHINGTON, D. C, FEBRUARY 29, 1940
SUMMARY OF BUSINESS TRENDS
Recession in business activity continues according to the
weekly data now available for most of February. Manufacturing output on the whole is extending the contraseasonal decline
recorded in January. Aside from one of the typically abrupt
spurts in copper sales last week, the lull in industrial purchasing
has continued. While copper prices have strengthened recently
and wheat quotations have advanced,, commodity prices have
generally moved within a narrow range since January. Movement of freight over the railroads has declined against the seasonal
expectation of a small increase. Although the sharp drop in
coal loadings—caused by the decJine in production from the
high January rate—has been the major factor in the decline in
total carloadings, the volume of miscellaneous traffic has again
moved lower during February. For the first 17 days of the month
daily average loadings in this classification were 5 percent lower
than in January. Adverse weather during the week ended
February 17 may have been a retarding influence on freight traffic
for that period, but it does not account for the recent downtrend
in the seasonally adjusted freight volume.
The monthly data charted below give some indication of the
broad area over which contraction in activity was under way
in January. The index of income payments, a comprehensive
measure of economic change, dropped 0.3 points from December
to 89.4 (1929 — 100) for January. Factory employment in the
aggregate declined slightly more than seasonally from midDecember to mid-January and factory pay rolls at mid-January
were also lower than a month earlier. As evidenced by the
employment and pay-roll data there was a rather general let-up
among such durable goods industries as the iron and steel products group where activity had expanded markedly last year.
Employment and pay rolls, however, had been increased somewhat further by mid-January in such durable lines as aircraft,
machine tools, and engines and turbines. Though all of these
charted indicators declined from December they were well above
the year-earlier position. Moreover, the index of income payments, up 7 percent from January 1939, was at a figure that has
been exceeded in only a few months of the past several years.
The total number at work in factories was 10 percent higher than
a year earlier, and pay rolls were one-sixth larger than in January
1939.
SELECTED BUSINESS INDICATORS
STEEL INGOT
FREIGHT CAR LOADINGS
ELECTRIC POWER PRODUCTION
PRODUCTION
(BILLIONS OF KILOWATT
(PERCENT OF CAPACITY)
AUTOMOBILE PRODUCTION
BITUMINOUS
(THOUSANDS OF VEHICLES)
(THOUSANDS OF CARS)
HOURS)
COMMERCIAL LOANS
COAL PRODUCTION
(BILLIONS
(DAILY AVERAGE - THOUSANDS Of TONS)
DOLLARS)
PRICES OF 3 5 0 INDUSTRIAL STOCKS
PRICE INDEX OF 28 BASIC COMMODITIES
(INDEX, 1926 * 100)
(AUG. 1939 = 100)
1938
INCOME
OF
1940
1937
PAYMENTS
w
1938
1939
(940
FACTORY EMPLOYMENT 8c PAYROLLS
(SEASONALLY ADJUSTED 1 9 2 9 - 1 0 0 )
(1923 - Z5 = 100)
100
MONTHLY DATA
95
90
65
80
75
70
« . l , , l , , l M
1937
212542—40
. . i . . 1. . I , .
1938
,. i . . 1 . , i , ,
1939
±
, 1 . . 1 . , 1 , ,
1940
1937
1938
1939
1940
WEEKLY BUSINESS INDICATORS'
[Weekly average, 1923-25=100]
Business aetivity:1
New York TimesScf.
Barron'scf
Business Week
Commodity prices, wholesale:
Dept. of Labor, 1926^100:
Combined index (813)
Farm products (67)
Food (122)
Aft other (6?4)
Fisher's index 1926—100"
Combined index (120)
CODDGT clGctrolvtici
Cotton, middling, spot
Construction contracts!
Distribution: Car loadings
Employment: Detroit, factory,..
Finance:
Bond yields{
Stock pricest
1933
1939
1940
ITEM
Feb. Feb. Feb. Feb. Jan. Feb. Feb. Feb. Feb.
19
25 18 26
27
24
3
10
17
78.5
68.9
70.9
83.5
78.8
69.6
71.7
83.6
79.1
69.2
71.4
84.0
76.8
67.7
71.4
80.4
76 6
66 9
71.3
80.4
79.6
70.2
73.5
83.1
70.4
09.0
73. '1
83.0
84 8 84 3 84.6 84.7 85.4 80 0 70 7 83.0 82 4
80 4 79 7 81.2 82.6 85.5 79.7 79.7 7 ! 0 71.0
41.9 41.5 41.5 40.8 40.8 32.7 32.7 33.8 33.1
Petroleum t
Steel ingots®
Receipts, primary markets:
Cattie and calves . - *
69.4 55.8 30 2 3*. 6
42.5
63 4 65.4 68.5 67.7 68.5 60.1 63.4 56 9
104.9
100.6 74,3
111.5
55.3 71.7 61.7 70.0 74.2 65.0 72.0 05.6 69 3
62.4 62 4 62.6 62.7 62.9 66.0 66.0 72.6 73.1
111.1 111.5 110.4 109.7 110.3 104.1 104. D 06.5 92.4
1938
Feb. Feb. Feb. Feb. Jan. Feb. Feb. Feb. Feb.
27 25 18 26 19
3
10
17
24
Finance—Continued.
Banking:
Debits, outside N. Y. C.J....
Federal Reserve reporting
member banks:
Loans total
Interest rates:
CallloansJ
Timeloanst — - —
Currency in circulation^
Production:
Automobiles
Bituminous coali
Cotton consuoipuon^
Electric powcrf
96.6 98.6 101.5 103.1 88,0 H9,1 78 8 79.0
107.4 110 8 112.8 116.0 96.9 96.9 76.0 76.2
113.7 118.5 120.9 100.8 99.8 81.3 81.1
78.3
68.6
70.5
83.3
1939
1940
ITEM
Cotton „ * . „
Wheat
._
97.5 m. i 93.5 93.7 92.2 85.0 94.0 82.9 96. U
68.1 68.0 68.3 65.5 65.7 71.2 71.6
68.3 68.1
24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2 24.2
28.6 28.fi
28.6 28,6 28.6 28.6 28.6 28.6
163.3 152.8 152.6 152,2 151.7 138.2 137.9 130.2 129, ft
134.6 124.6 125.8 132.7 139.5 99.2 104.7 69.0 72.6
89.1 96.4 99.7 101.0 85.3 84.0 65.7 64.9
124.9 123.5 127,7 113.4 106.5 86.3 84.5
147.4 148.6 151.4 152.5 154.0 133.6 135.0 121.9 123.6
179.2 178.5 177.1 168.0 173.4 159.8 159.6 159.5 16L7
115.3 118.2 123.2 132.8 141.2 92.2 94.1 51.3 52.3
50.9 50.8 54.1 54.0 54.5 54.6 63.0 59.6
56.1 52.7 57.6 62.9 36.1 39.8 45.7 42.4
77.3 91.9 92.3 87.7 78.8 30.8 31.5 74.6 91.5
36.8 25.2 24.2 27.9 24.5 27.6 23.9 20.9 38.2
• D a t a do not cover calendar weeks in all cases.
^Computed normal = 100.
f Daily average.
tWeekly average, 1928-30=100.
ISeasonally adjusted.
®Index for week ended Mar. 2 is 113.2.
d* For description of these indexes, see p. 4 of the Dec. 16,1937 issue.
WEEKLY BUSINESS STATISTICS*
1940
COMMODITY PRICES, WHOLESALE
Copper, electrolytic, New Yorkt
dol. per lb__
Cotton, middling, spot, New York
. do.
Food index (Bradstreet's)
do
Iron and steel, composite..
dol. per ton..
Wheat, No. 2 Hard Winter (Kansas City).dol. per bu_.
FINANCE
Banking:
Debits, New York City
mil. of dol..
Debits, outsids New York City (140 cities)
do
Federal Reserve banks:
Reserve bank credit, total
_.do
U. S. Government securities
do
Member bank reserve balances
do
Excess reserve, estimated
,
do
Federal Reserve reporting member banks:
Deposits, demand, adjusted
__.do.-Deposits, time
do._.
Investments, total§
do
U. S. Government direct obligations
..do
Obligations fully guaranteed by U. S. Government
_
mil. of dol.
Loans, total§
_
...do
Commercial, industrial, and agricultural loans§
mil. of dol..
Interest rates, call loansf
.percentInterest rates, timeloanst
,
.tio..Exchange rates:
French francj..
cents,.
Pound sterling*
dollars..
Failures, commercial..
number..
Currency in circulation!
mil. of dol..
Security markets:
Bond sales (AT. Y. S. E.)
thous. of dol. par value.
Bond yields (Moody's) (120 bonds)*
percent.
Stock sales (N. Y. S. E.).__
thous. of s h a r e s /
Stock prices (A7". Y. Times)t
dol per share
Stock prices (Standard Statistics) (420)
1926-= 100
Industrials (350)
do
Public utilities (40)
."do"
Railroads ( 3 0 ) . . . .
;do!
PRODUCTION, CONSTRUCTION, AND
DISTRIBUTION
Production:
Automobiles^
_
number
Bituminous coalj...
thous. of short tons"
Electric power
mil. of kw.-hrs..
Petroleum!
thous. of bbl..
Steel ingots0
pet. of capacity..
Construction-contract awards?
thous. of dol
Distribution:
Freight-car loadings, total
_
...cars..
Coal and coke
do
Forest products
do
Grains and grain products.
do
Livestock
do
Merchandise, 1. c. 1
__~~ do
Ore
do
Miscellaneous
_
"do
Receipts:
" "
Cattle and calves..
thousands
Hogs..
_
.do .
Cotton into sight
thous. of bales—
Wheat, at primary markets.
thous. of bu.
Feb. 24
Feb. 17
Feb. 10
0.111
.114
2.34
36.83
1.03
0.110
.113
2.33
37.00
0.112
.113
3,084
4,523
2,604
3,713
2,523
2,477
12,241
5,629
1938
1939
Feb. 3
Jan. 27
Jan. 20
Feb. 25
Feb. 18
0.110
.089
2.32
36,38
.71
0.110
.089
2.31
1937
Feb. ID
Feb. 27
0.098
.090
2.44
0.142
.133
2.94
36.95
1.33
2,155
3,209
2,793
3,712
4,224
4,117
2,587
2,564
8,707
3,166
2,591
2,564
7,240
1,412
2,600
2,564
7,216
1,364
2,460
2,430
6,705
2,©&7
16,094
5,189
13,426
8,184
16,951
5,181
13,403
8,182
14,576
5,249
12,271
8,147
14,485
5,248
12,287
8,160
15,638
5,111
13,621
9,094
2,411
8,579
1,993
8,180
1,975
8,205
1,150
8,896
1,150
8,944
1,209
9,C51
4,330
L00
1.25
. 3,766
1.00
1.35
3,761
1,00
1.25
4,378
1.00
1.25
4,392
1.00
1.25
1.00
L25
2.254
3.978
302
7,368
2.246
3.965
288
7,408
267
4.689
267
6,711
2.648
4.68fi
293
6,697
3-267
5.018
267
6,321
3.291
6,027
282
6,310
4.651
4.890
172
6,3S6
29,040
3.62
2,014
106. £5
90.4
105.8
87.3
28.3
34,030
3.63
3,128
107.12
91.1
107.3
87.7
20.0
3.64
3,377
106.62
90.8
106.4
87.5
28.6
26,500
3.81
3,365
101.05
89.6
105.6
84.1
27.9
25,820
3.81
2,860
101.89
90.5
106.9
84.2
27.9
29,480
4.19
3,978
93.74
84.7
100.7
73.4
30.2
33,620
4.22
3,318
89.71
79.6
94.4
70.2
28.0
58,270
3.77
9
137.09
128.5
150.9
108. Of
58.2
95,985
1,642
2,523
3,688
71.7
101,240
1,698
2,541
3,499
77.3
6,825
106,400
1,720
2,566
3,612
82.2
108,545
1,653
2,572
3,637
84.8
9,046
75,660
1,453
2,226
3,329
53.7
11,144
79,860
1,431
2,249
3,324
54.8
8,967
52,677
1,119
2,031
3,323
30.4
4,854
55,400
1,106
2,059
3,369
31.0
5,721
111,915
1,923
2,207
3,296
82.5
9, ISO
626,903
156,638
29,263
. 29,174
10,540
147,442
9,812
244,034
657,004
170,798
31,374
32,080
10,914
146,788
10.087
254,963
649,488
184,652
27,832
30,395
11,200
143,370
8,840
243,199
645,822
170,910
30,660
28,089
12,484
142,919
10,052
250,708
560,609
138,732
25,484
28,885
9,935
133,965
7,884
215,724
576,645
133,634
24,403
28,582
11,120
148,244
8,944
221,718
511,939
106,754
25,819
30,215
11,450
134,938
6,818
195,945
535,866
108,094
26,286
31,875
11,203
146,915
8,160
203,333
692,393
171,361
34,465
27,342
10,991
153,264
10,706
284,264
0.114
.111
2.36
37.03
.95
0.118
.111
2.35
37.09
.98
0.122
.114
2,34
37.07
3,185
4,335
3,187
4,343
2,942
4,279
3,656
4,711
2,638
3,284
2,841
3,637
2,477
12,151
5,580
2,518
2,477
IS, 097
5,523
2,503
2,477
12,150
. 5,559
2,514
2,477
12,148
5,592
2,515
2,477
12,020
5,502
2,592
2,564
8,841
3,208
19,256
5,277
14,680
8.830
19,062
5,260
14,6S6
8,855
19,108
5,256
14,692
8,910
19,199
5,257
14,675
8,877
19,163
5,254
14,647
8,896
18,979
5,259
14,633
8,913
2,425
8,531
2,420
8,516
2,411
8,507
2,414
8,499
4,316
1.00
1.25
4,309
1.00
1.25
4,314
1.00
1.25
4,295
1.00
1.25
2,412
8,536
4,316
1.00
1.25
2.240
3.954
225
7,446
2.243
3.958
292
7,420
2.256
3.981
251
7,412
2.258
3.984
285
7,392
26,360
3.60
3,253
107. 84
92.2
108.3
87.9
28.9
27,070
3.60
2,860
108.32
91,9
107.8
87.7
29.0
33,510
3.61
3,735
107, 24
91.3
107.1
87.4
28.7
102,670
95,050
1,517
2,476
3,718
68.8
607,924
141,741
30,532
30,897
11,083
142,987
9,789
240,895
2,455
3,732
67.1
Feb. 26
37.01
.092
2.48
38.84
.68
205
199
188
172
172
184
161
171
161
171
304
275
297
258
234
400
374
364
408
342
121
238
194
82
201
80
268
239
205
228
240
1,461)
3,036
1,G64
2,929
2.196
2,328
1,948
2,219
2.001
1,029.
&Rate for week ended Mar. 2 is 65.9.
{"Daily average.
• D a t a do not cover calendar weeks in all cases.
No longer strictly comparable; for an explanation, see the corresponding data on P, 30 of the April 1039 issue of the SURVEY.
^SOURCE: Ward's Automotive Reports.
MONTHLY BUSINESS STATISTICS
Monthly statistics through December 1937, together with explanatory notes a n d references
to t h e sources of the data, may be found in the
1938 Supplement to the Survey
1940
1039
January
March
April
May
June
July
August
- October
N
°bveerm-
D
«
BUSINESS INDEXES
Pages 6, 7, 8
Income payments :f
Adjusted index
1929=100,.
Total..
mil. of dol..
Salaries and wages:
Adjusted index
1929=100..
Total
mil. of dol..
Commodity producing industries-do
Distributive industries.
_do
Service industries.._
...do
Government
_
...do
Work relief wages
do
Direct and other relief
do
Social'Security benefits and other labor
income
mil. of dol..
Dividends and interest
.
do
Entrepreneurial income and net rents and
royalties
mil. of doL.
Total nonagricultural income
do
Adjusted index of nonagricultural income
1929=100..
Industrial production (F. R.):
Combined index, unadjusted...1923-25=100..
Manufactures, unadjusted
do
Minerals, unadjusted
...do
Combined index, adjusted
do
Manufactures, adjusted......___ _ . . - . d o . ™
Automobiles
do
Textiles
do
Minerals, adjusted..
do
83.3
5,703
83.0
5,247
84.1
5,727
83.0
5,654
83.4
5,432
84.1
5,918
83.7
5,695
85.4
5,400
86.8
6,010
88.0
6,195
'88.5
5,804
••89.7
'6,890
M36
J>94
82.3
3,525
1,191
841
800
505
188
92
82.0
3,522
1,215
826
790
503
182
93
82.1
3,575
1,235
850
797
506
187
95
81.0
3,550
1,212
849
799
510
180
90
81.4
3,598
1,235
862
806
520
175
87
82.8
3,665
1,281
874
815
530
165
85
82.8
3,516
1,271
868
810
422
145
85
84.0
3,560
1,318
871
813
423
135
87
84.5
3,692
1,357
892
821
507
114
87
86.6
3,858
1,434
922
835
539
128
87.3
3,834
1,421
911
839
531
132
87
8
'3,880
'1,413
'942
851
'536
138
87
M43
P855
128
827
133
433
148
772
133
139
471
145
920
130
849
145
451
135
805
128
783
129
496
132
1,514
v 1,252
"5,502
1,131
5,244
1,066
4,848
1,137
5,250
1,121
5,192
1,137
4,943
1,103
5,453
1,109
5,222
1,157
4,887
1,291
5,3G4
1,338
5,510
1,258
5,217
1,277
'G,308
84.4
84.4
84.8
84.3
85.4
85.5
86.7
87.0
88.8
'89.5
'00.1
99
98
105
99
— 97
100
109
110
100
100
102
94
94
97
92
~ " 91
73
104
»12G
100
99
105
101
" 100
105
109
110
97
105
98
97
81
111
104
97
95
107
101
~~100
87
111
106
99
99
96
103
" 104
89
120
91
112
110
123
111
111
85
121
114
124
122
132
121
121
78
125
121
124
123
127
124
124
90
126
124
120
121
'113
128
'129
124
123
'120
85.4
73.0
78.8
85.8
86.6
96.9
85.4
72.7
79.2
85.9
86.2
96.8
85.1
72.4
78.4
85.9
86.1
96.7
84.9
72.3
78.0
85.8
86.1
96.7
85.0
72.2
78.2
85.2
86.2
96.7
84.8
72.1
78.1
84.0
86.2
96.6
84.9
71.9
78.1
83.8
86.3
96.9
84.5
71.9
76.7
84.0
86.3
96.9
85.9
72.2
80.7
84.4
86.5
97.0
85.8
72.6
80.1
85.2
86.6
96.8
85.7
72.9
79.6
85.6
86.7
96.8
85.3
72.9
78.5
85.6
86.6
96.8
88,033
19,075
86,651
18,318
68,333
3,458
1,403
14,024
49,448
111,815
22,147
111,160
22,824
112,377
22,692
3,854
2,278
12,433
50,393
87,418
19,556
67,861
2,446
2,301
12,771
50,343
4,768
1,695
17,414
65,792
6,055
2,105
17,655
62,520
6,075
1,615
18,538
63,456
105,086
21, 785
83,301
5,345
1,663
17,408
58,886
85,407
20,570
64,838
3,496
2,120
13,999
45,222
90,526
21,115
69,410
3,512
1,349
12,527
52,022
101,937
20,884
81,053
3,067
1,278
15,045
61,663
119,612
22,393
97,220
6,436
1,767
19,824
69,192
113,457
20,194
93,264
4,537
1,376
18,470
68,880
118,103
20,246
97,857
3,482
J,637
14,183
78,555
P96.7
*>124.0
70.8
91.0
71.2
96.0
106.7
88.0
106.3
79.5
107.1
79.0
101.2
79.0
87.5
80.5
63.7
70.5
56.5
83.5
96.5
93.7
107.9
102.8
PIIO.8
pJ05.4
93.5
96.4
98.7
98.2
100.5
99.5
102.0
99.0
102.9
101.4
100.8
99.3
97.6
99.6
103.1
107.2
109.4
106.9
106.4
109.0
109.0
112.1
108.8
101.6
97.5
105.4
104.0
99.8
108.1
92.2
82.3
. 101.7
94.6
84.4
104.4
93.6
83.3
103.5
94.3
84.2
103.9
94.3
84.1
104.0
94.0
83.7
103.8
94.1
84.8
-103.0
93.8
83.9
103.3
93.0
84.0
-101.6
93.3
82.9
103.3
93.4
84.6
.101.8
94.3
83.9
104.2
93.5
83.0
103.5
95.3
84.7
105.3
96.3
83.9
-108.1
95.9
85.3
105.9
100.0
89.8
110.2
97.5
88.9
105.7
103.6
96.1
rllO.8
101.2
94.5
107.6
103.8
98.2
-109^2
103.4
97.3
109.2
'104.1
'100.1
-107.9
'104.6
'100.0
'108.9
51.5
91.7
66.6
63.1
37.5
50.0
88.7
62.6
67.0
38.3
52.2
88.6
60.9
66.4
37.9
51.7
87.4
61.0
66.2
40.1
53.0
25.9
61.5
65.8
43.0
52.6
47.9
61.9
66.1
45.6
51.2
78.3
61.6
67.0
47.3
44.7
79.4
60.4
67.3
47.5
48.5
81.4
60.4
66.7
48.1
49.4
85.4
62.9
65.0
47.9
51.9
93.0
65.3
64.3
48.0
••51.3
'94.9
'66.3
'63.8
'47.1
'67.3
'63.8
'44.0
91.7
69.1
75.2
90.0
69.2
74.1
89.6
69.3
73.3
69.5
73.4
90.3
69.1
74.1
01.0
69.6
74.7
92.3
69.9
75.3
93.2
69.7
75.4
93.8
69.8
75.5
93.7
69.8
75.3
93.5
70.1
75.4
93.4
'69.9
'75.0
'93.0
'G9.6
'74.7
85.3
90.5
82.2
88.3
81.5
87.9
83.8
87.4
85.5
87.3
85.7
87.2
86.4
88.1
83.6
87.9
82.5
87.3
90.5
88.4
92.4
'89.9
'92.1
'101.0
92.2
98.1
97.8
98.5
83.7
76.0
92.4
86.0
77.7
95.3
87.6
79.4
96.7
85.5
79.5
92.2
85.0
78.8
91.9
86.5
80.7
93.0
84.4
76.0
93.7
89.7
81.5
99.0
87.8
100.5
101.6
99.6
'103.9
'101.6
'100.9
102.4
'103.6
' 104.4
'102.8
v 6,051
*>3,707
p 1,335
8
P122
P120
»130
P114
91
110
110
COMMODITY PEICES
Page 11
Cost of living (N. L C. B.):
Combined index
Clothing
Food...
Fuel and light.
H o u s i n g . , __•
Sundries^
1923=100.
do...
do...
do...
do...
do...
DOMESTIC TEADE
Pages 26, 27, 30
Advertising:
Newspaper advertising:
Lineage, total (52 cities)
thous. of lines.
Classified
do...
Display, total.
do...
Automotive
do...
Financial.
_
__do...
General...
_..do...
Retail
.do...
Retail trade:
Automobiles:
Value of new passenger automobile sales:
Unadjusted
...1929-31 = 100.
Adjusted
do~Chain-store sales:
Grocery chain-store sales:
Unadjusted
do...
Adjusted
do...
84.7
72.0
77.9
83.4
86.0
*108.5
E M P L O Y M E N T CONDITIONS AND
WAGES
Pages 31, 32, 33, 35, 37, 40, 41, 43, 44
Employment:
Factory, unadjusted (U. S. Department of
Labor)f
1923-25=100..
Durable goods
do
Nondurable goods
do
Factory, adjusted (Federal Reserve) t--do
Durable goods
do
Nondurable goods
do
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining:
Anthracite
1929=100..
Bituminous coal..
do
Metalliferous..!
do
Petroleum, crude, producing
do
Quarrying a n d nonmetallic
do
Public utilities: t
Electric light and power, and manufactured gas
1929=100
Electric railroads, etc
do
Telephone and telegraph.._
do """
Trade :t
Retail, total
do
Wholesale
;
do
P a y rolls:
Factory, unadjusted (U. S. Department of
Labor)f
.1923-25=100..
Durable goods
do
Nondurable goods..
do
' Revised.
p Preliminary.
f Revised series. For revised income payments beginning 1929, see table 41, pp. 15 and 10 of the October 1939 Survey. For factory employment without adjustment for
seasonal variations and employment adjusted for seasonal variations, and for factory pay rolls, see footnote marked " t " on p. 25 of tho January 1940 Survey. Data relating
to employment and pay rolls in the indicated nonmanufacturing industries have been revised beginning 1929 and will be shown in an early 'issue of the Survey, Figure?
given here are on the unrevised basis with January 1940 derived from the new data.
MONTHLY BUSINESS STATISTICS—Continued
1940
Monthly statistics through December 1937 together with explanatory notes and references
to the sources of the data may be found in the
January
1938 Supplement to the Survey
1939
February
March
April
May
June
July
August
October
N
°™ m "
E M P L O Y M E N T CONDITIONS AND
WAGES-Continued
Pay-rolls—Continued.
Nonmanufacturing, unadjusted (U. S. Department of Labor):
Mining:
Anthracite
1929=100.
Bituminous coal
do
Mctaliferous.'
do-._
Pctrolciim, crude, producing
do...
Quarrying: and nonmetallic
do
Public utilities:!
Electric light and power, and nmnufae' tured gas
.
.
1929=100.
Electric railroads, etc
.
do...
Telephone and telegraph
do...
Trade: t
Retail, total
do
Wholesale
do
52.5
90.8
63.1
58.4
29.8
38.0
78.
55.3
00.9
30.2
4.12
81.2
53.4
02.7
29.7
34.2
77.8
53.0
61.3
33.1
43.4
17.6
52.6
57.0
20.4
54.1
61.2
39.7
36.1
66.5
53.8
62.5
41.7
25.2
64.5
48.5
61.9
40.9
33.8
74.6
53.0
62.0
42.9
40.1
80.2
55.1
60.8
42.7
52.2
97.6
63.4
58.8
45.0
'42.0
'00.3
••63.9
'59.6
42.0
26.6
••84.3
••65.0
'59.2
39.2
1)9.8
70.4
00.3
05.9
71.1
02.0
06.4
69.9
91.7
06.8
70.5
91.9
06.9
69.6
92.1
98.8
70.1
93.7
100.2
71.2
93.7
100.0
70.6
94.0
101.1
71.0
04.3
101.0
70.4
04.0
101.0
72.4
95.2
101.5
70.6
'04.4
101.1
'70.8
'95.0
72.7
90.5
69.7
75.5
68.4
74.6
09.6
74.7
71.3
74.8
71.5
74.9
72.5
75.8
70.9
75.8
76.2
72.3
78.0
74.1
SO. 3
74.7
••79.0
82.1
'79.1
71
70
61
64
70
62
70
72
76
72
87
72
77
67
07
91
59
53
58
53
63
61
55
58
52
57
54
57
56
59
67
65
73
73
249, 259 236,058
202,502 178,953
194,193 178.405
229,628
168,925
170,451
FOREIGN TRADE
Pages 79, 80, 82, S3
Indexes:
Exports:
Total value, unadjusted
1923-25=100.
Total value, adjusted
do...
"95
Im ports:
Total value, unadjusted
do.__
Total value, adjusted
do...
Value:
Exports,including reexports
thous. of dol. "36?, 550
General imports, total
do
"241,961
234 """
Imports for consumption, total
do
CHEMICALS A N D ALLIED PRODUCTS
Page 90
Chemicals:
Alcohol, denatured:
Consumption
thous. of wine gal10,147
Production
.do...
10,398
Stocks, end of month
*..„do...
1,417
Alcohol, ethyl:
Production
_ thous. of proof gal. 120,656
Stocks, warehoused, end of month. _tlo.._
"15,279
Withdrawn for denaturing
do
£18,386
Withdrawn, tax-paid
do...
1,504
FOODSTUFFS AND TOBACCO
Pages 102,116
56
55
55
55
49
49
212,908
178,201
169,323
218,559
158,035
152,528
6,722
6,827
1,379
6,558
6,446
1,260
7,578
7,616
1,294
7,523
7,719
1,485
8,203
8,490
1,766
7,944
8,166
1,982
7,395
7,437
2,015
9,202
0,190
2,007
12,848
12.625
1,776
15,453
15,181
1,496
13,068
13,060
l479
11,434
11,158
1,173
17,067
24,433
11,401
1,691
14,650
20,072
11,198
1,363
17,438
27, 741
13,202
1,851
17,857
29,625
13,253
2,074
18,655
31,078
15,031
2,009
16,838
30,860
15,029
1,858
17,643
32,232
13,823
1,765
18,539
32,919
16,050
1,780
18,104
25,913
22,315
2,187
20,965
17,974
26,033
2,248
21,787
14,163
22,944
22,080
14,614
19,524
1,729
3,482
3,031
7,774
4,497
3,822
8,265
4,641
3,985
8,746
5,651
5,079
9,086
6,271
5,656
9,447
5,637
5,538
9,330
5,450
5,715
4,392
4,921
8,112
4,237
4,169
7,994
3,685
3,826
7,696
3,588
3,916
7,191
10,700
6,112
513,462
13,022
8,566
516,755
10,940
7,593
510,162
10,756
6,868
521,251
8,304
6,456
522,058
5,381
5,605
520,429
6,390
6,663
518,487
10,244
8,772
514,433
17,946
11,066
510,006
14,921
13,485
506,894
11,553
9,400
508,205
8,724
4.996
472,934
9,993
6,791
475,150
8,513
5,728
477,136
7,072
4,866
478,741
5,774
4,885
478,000
3,711
4,343
477,149
4,392
5,098
475,371
4,985
6,703
472,409
7,074
8,550
409,173
8,033
8,946
7,704
10,385
465, 934 465,018
2,683
2,192
3,817
3,078
3,670
2,800
3,425
2,496
2,900
1,977
2,030
2,014
3,189
2,332
4,005
3,258
5,202
4,329
6,341
5,532
4,002
3,249
7,743
6,816
10,771
9,357
0,775
8,122
0,137
7,142
6,767
7,570
6,131
8,709
7,104
11,959
10,309
13,703
12,007
16,266
14,508
12,390
10,870
11,782
14,244
361, 233 437,584
12,269
403,042
15,445
470,580
16, 595
486,721
14,260
427,533
16,571
500,807
14,790
486,865
15,384
551,230
14,461
505,008
12,803
331,204'
Alcoholic beverages:
Fermented malt liquors:
Production
thous. of bbl_.
3,645
3,788
Tax-paid withdrawals
_..do
3,104
2,930
Stocks
_
do
7,470
7,026
Distilled spirits:
Production
thous. of tax gal.. 12, 500
11,874
Tax-paid withdrawals
do
6,248
6,517
Stocks
do
512,394 510,194
Whisky:
Production
_do
9,204
10,021
5,007
Tax-paid withdrawals
do
fi, 500
Stocks
do
469,001 470,251
Rectified spirits and wines, production,
2,973
total
thous. of proof gal
<)
Whtskyi
do..:;
2,375
Indicated consumption for beverage purposes:
8,192
All spirits^
thous. of proof gal..
()
Whiskyl..
_„•
...__do.._.
C)
Tobacco:
Manufactured products:
Consumption (tax-paid withdrawals):
13,863
Small cigarettes
millions.. 14, 568
Large cigars
t h o u s a n d s - 388,085 349,497
Manufactured tobacco and snuff
26,914
thous. of 1b... 26,742
METALS AND MANUFACTURES
Page 139
Machinery and apparatus:
Foundry equipment:
Orders:
New
1922-24=100122.5
197.9
Unfilled, end of month
do
151.4
231.2
Shipments
do
96.3
193.2
TRANSPORTATION EQUIPMENT
Page 160
Automobiles:
Production:
Canada, total
number..
17,213
Passenger cars
do
12,579
United States (factory sales), total__.do.... 432,101
Passenger cars
do
362,736
Com'l cars, trucks, road tractors.-.do
69.365
14,794
11,404
342,168
281,465
60,703
268,304 230,947
190,437 186,195
191, 226 185,800
250,839 288, 573 332,079 292,582
175, 756 181,461 215, 281 235,402
180,379 109,483 207,140 214,454
25,425
29,594
25,628
30,499
30,107
26,246
33,201
30,361
30,239
28,430
24,057
135.5
175.1
112.2
146.6
193.6
128.1
146.2
208.6
131.0
108.9
173.1
144.3
134.9
159.2
148.5
114.0
135.6
135.5
131.0
123.1
143.8
184.4
174.9
132.6
220.6
224.7
170.7
203.0
257.8
170.1
165.3
222.4
200.1
14,300
10,914
303,220
243,000
60,220
17,549
12,689
371,946
299,703
72,243
16,891
12,791
337,375
273,409
63,066
15,706
11,585
297,542
237,870
59,672
14,515
10,585
309,738
246,704
63,034
3,921 r 11,296 ' 16,750 16,978
3,475
9,135
9,882
7,791
3,494
1,068
5,112
11,491
209,359
99,868 188,757 313,392 351,785 •452,142
150,738 ' 61,407 161,625 251,819 285,252 •373,830
61,573 ' 66,533 r 78,384
' 58.621 ' 38,461 27,132
' Preliminary.
r
Revised.
• Data for December are the latest available.
t Revised series. For data on pay rolls, in the indicated nonmanufacturing industries see footnote marked with a " t " on p. 3.
See footnotes marked with a " • " and " t " on p. 41 of the January J94Q StmvET.
367,819
246,903
232,738
U. S . GOVERNMENT PRINTING OFFICE: 1 9 4 0
@FedFRASER