IE-CD IN FILES SECTION 0 c m 194V '

board of governors of the federal reserve system Released for publication Monday morning, October 20

R&S BI - 206 October 18, 1941

BUSINESS EiDEXBS 1955-39 average 100 for industrial production and freight-oar loadings;

1925-25 average - 100 for all other series Adjusted for

seasonal variation Wit"hbut

seasonal adjustment 1941 1940 1941 1940

Sept . 1 Aug. Sept. Sept . I Aug. Sept. Industrial production

Total pi 60 160 127 pl66 162 132 Manufactures

Total pl66 165 129 pi 72 167 133 Durable p202 195 151 p204 198 160 nondurable pl37 139 112 pl45 142 119

Minerals pl30 151 rll6 pl36 134 124 Construction contracts. value

pl36 Total pl59 152 93 pi 60 159 93 Residential plOl 112 82 plOl 111 82 All other p207 184 101 p20S 199 102

Factory employment Total * 133.0 108.9 * 132.8 111.4 Dure'ole roods * 141.1 107.4 * 138.4 108 .2 nondurable j*oods * 125.3 110.3 * 127.5 114,4

Factory p&yrolls Total .. * 157.6 111.6 Durable goods .. * 177.1 115.1 nondurable foods .. * 136.2 107.7

Freight-car loadin-s 130 139 112 145 140 125 Department store sales. value pll2 134 97 pl21 106 105 Department store stocks , value * 87 70 * 84 73 pPreliminary. rRevised, Data not yet available, NoteiProduction, carloadingc, and department store sales indexes based on daily

averages. To convert durable manufactures, nondurable manufactures, and minerals indexes to points in total inde::, sho-m in Federal Reserve Chart Book, multiply durable by 70, nondurable by .466, and minerals by .152.

Construction contract indexes based on 5-month moving averages, centered at second month, of F. W. Dodge data for 37 Eastern states. To convert indexes to value figures, shown in the Federal Reterve Chart Book, multiply total by $410,-269,000, residential by $184,137,000, and all other by $226,132,000.

Employment index, without seasonal adjustment, and payrolls index compiled by Bureau of Labor Statistics.

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

2. INDUSTRIAL PRODUCTION (1935-39 average - 100)

Adjusted for Without seasonal variation seasonal adjustment 1941 1940 1941 1940

Sept. 1 Aug. Sept. Sept* | Aug. Sept. MANUFACTURES

Iron and steel 192 185 169 192 185 166 Pig iron 185 182 167 185 182 164 Steel 207 198 175 207 198 171

Open hearth & Bessemer 179 172 164 179 172 161 Electric 405 382 247 405 382 242

Machinery p225 223 146 p225 223 142 Transportation equipment p245 240 169 p246 221 154

Aircraft pl236 1123 508 pl23S 1123 508 Automobiles .. .. . . * e Bodies, parts, k assembly pl37 139 121 pl37 118 119

Factory sales p76 93 110 p76 47 89 Railroad cars p247 236 148 p247 236 135 Locomotives p356 356 140 p356 355 137 Shipbuilding pS14 484 220 p514 484 213

Honferrous metals and products pl66 184 143 plSS 184 143 Copper smelting pl35 136 129 pl35 135 129 Zinc smiting 175 175 148 175 175 143 Copper deliveries p225 221 154 p225 221 156 Zinc shipments 146 143 141 146 145 138 fin consumption * 161 113 * 159 108

Lumber and products pl37 140 121 pl49 152 132 Lumber pl28 134 121 pl43 148 134 Furniture pl64 153 121 pl62 158 127

Stone, clay, and glass products pl52 154 124 pi 70 172 , 109 f

139 Polished plate glass 120 133 118 120

172 , 109 f 118

Textiles and products pl52 154 116 pl52 154 118 Cotton consumption 156 ICO 119 156 160 119 Rayon deliveries pl68 170 120 pl68 170 138 Silk deliveries p34 56 65 p32 50 65 Wool textiles pi 73 . 166 123 pi 73 166 120

Leather and products pll9 121 95 pl27 128 102 Tanning * 123 90 * 119 89

Cattle hide leathers 140 95 * 133 94 Calf and kip leathers * 103 82 * 108 81 Goat and kid leathers 96 83 * 94 84

Shoes pllo 119 99 pl30 135 111 Manufactured food products O130 133 110 pl58 153 133

Wheat flour 99 88 100 114 99 115 Meat packing pl32 134 121 pl25 116 112 Other manufactured foods pl31 135 109 pl6S 159 140

Paper and products 147 120 146 124 paperboard 168 161 118 167 163 125

Printing and publishing pl27 129 108 pl27 120 108 Newsprint consumption 105 109 104 106 96 105

p~Preliminary or estimated. * Data not 'yet available. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

3, INDUSTRIAL PKOBUCTIOK 1 S

I (1636-39 average 100)

I Adjusted for Without * seasonal variation seasonal adjustment

1941 1540 1941 1940 Sept . I Aug. Sept. Sept . 1 Aug, Sept,

tEAKUFACTUEES (Cont'd) Petroleum and coal products * 130 116 131 118

Petroleum refining * 126 112 # 128 114 Gasoline * 126 113 * 130 116 Fuel oil * 127 113 * 124 114 Lubricating oil * 132 102 131 102 Kerosene * 116 121 * 111 119

Beehive coke p426 453 267 p426 453 222 Chemicals pl44 145 114 pl46 142 116 Rubber products pl32 130 124 pl32 130 126

Rubber consumption 134 132 125 134 132 128 MISER&LS

Fuels pl28 129 115 pl29 125 116 Bitunincus coal P135 147 119 pl40 135 124 Anthracite pl27 162 108 pi 22 120 103 Grid: petroleum pl26 119 114 pl25 122 114

Metftit pl42 144 rl27 pi 76 182 rl72 Iron ore 203 203 155 311 335 301 Capper pl54 165 137 plE2 152 126 Le&d * 115 112 * 116 112

pfrrellmLaary or estimated. r Revised . * Data not yot available.

FRElGKT-CAjt LOAD DISS (1B3L-39 tivnru>; - 100)

Coal 133 158 114 140 139 . 120 Coke 175 199 147 172 167 144 Grain 111 103 rl07 122 125 117 Livestock 64 64 98 111 80 129 Feretit products 130 152 122 149 100 132 O-e 149 155 145 261 271 264 llsn-ligneous 135 141 112 160 141 124 Mtr u. 1,0.1. 97 99 95 102 99 100 r'Wi:vn*5- ' ' ; jir 1 L 1 " '.' 1 Noter--To convert coul and miscellaneous indexes to points in total index, multiply

coal by *213 a ltd miscellaneous by #548#

Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis