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o IN FILES SBCnOB BOARD OP GOVERNORS OF THE FEDERAL RESERVE 5% 3i3M ®CT2 7 1947 0.12.3 For release in morning papers, Saturday, October BUSINESS INDEXES ra|r£ hsrv&r™ October 24, 1^4/ 1939 average = 100 for factory employment and payrolls; 19<3-2$ average * 100 for construction contracts; 1935"39 average = 100 for all other series. Adjusted for seasonal variation wiihv^ seasonal -idjucimen 1 1941 I 1946 194 ' 1 19*. Sept. ; Aug. | Sen t. .Sept. | Aug. | §ep L. Industrial production Total pl85 182 160 piSy 185 104 Manufactures :• . i Total |pl91 168 186 0195 190 191 Durable - !p2l6 210 212 P21Y 212 21<+ Nondurable ' plfl 169 165 pi 77 173 172 Minerals P153 150 146 ?158 155 1«9 Construction contracts, value Total . * 166 151 * 173 152, Residential * 150 14/ * 148 147 All other * 179 m * 1*H 156 Factoiy employment ' 15;. 8 Total * 152.2 148.6 PI55.6 15;. 8 149.5 Durable goods # 1(6.0 172.7 pl(c.6 1,. .1 lu.l Nondurable goods # 133 > 129,6 pij1• ' lj5.4 130.9 Factory payrolls Total ** —- -*• * 322.4 290.3 Durable goods M * * 35f-2 323.3 Nondurable goods -- -- # 288.4 258.I Freight carloadlnga 142 143 136 153 148 149 ! & 1 0 .m value P289 282 2Y0 p29? 2j6 2/8 Department store stocks , value f * 22; 226 # 2< 5 250 p—Preliminary. , * Data not yet available. Note.•-Production, jcarloadings, and department store sales indexes based on daily averages. To convert durable manufactures, nondurable manufactures, and mineral a indexes 'to points in total index, shown in Federal Be serve Chart Book, multiply durable by .379, nondurable by .469, and minerals by .152. Construction contract Indexes based on 3-month moving averages, centered at second month, of P. W. Bodge data for 37 Eastern States. To convert indexes to value figures, shown m Federal Reserve Chart Book, multiply total by $410,269,000, residential by $184,137,000 and all other by $226,132,000. Eng^loyment %ndex, without seasonal adjustment, end payrolls index compiled by Bureau of Labor Stax istico. ! Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

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    IN FILES SBCnOB BOARD OP GOVERNORS OF THE FEDERAL RESERVE 5% 3i3M C T 2 7 1947

    0.12.3 For release in morning papers, Saturday, October

    BUSINESS INDEXES

    ra|r

    hsrv&r

    October 24, 1^4/

    1939 average = 100 for factory employment and payrolls; 19

  • ^JSTRIAL PRODUCTION (1935-39 average * 100)

    * Adjusted for seasonal variation

    " Wiihout seasonal adjustment

    1947 i ly^7 1946 Sept. Aug. | Sept. Sept.| Aug,. i Sep

    plS-4 188 185 P191+ 10 If? * 187 184 * x 1 ItW

    213 205 196 213 eOp iyc 177 170 1/2 1/7 110 1 1 & 473 366 473 h1+ Ico 130 130 133 1 130 130 153

    p277 267 p2'77 2b t * P156 Ill i * pi 56 ir.l * lib H y i 115 31t * 115 101 j * 114 j? * 130 114 , * 127 111 * 93 61 i ! * 9i 60 * 87 51 j * Lw 51 * 101 134 j * 105 131 # 116 131 i ; * 116 Ijl

    p!57 156 136 j p!79 Iff lbs pl40 Pl51 135 1 P152 P150 1 t P157 145 38 i ; p U o 12/ J i ploO 159 150 j Pi90 185 1&8 pl 3 V 138 143 I ! p2o6 261 315

    MAHUFACTUESS ' Iron and steel j Pig iron i Steel]/ |

    Open "hearth j Electric ^

    Machinery s Transportation equipment Automobiles (incl, parts)

    Nonferrous me tale and products Smelting and refining

    Lumber and products Lumber Furni lure

    Stone, clay and glass products Plate glass Cement Clay products Gypsum and plaster products Abrasive and asbestos producte

    lextileo and products Cotton consumption Rayon deliveries Wool textiles

    Leather products Tanning

    Cattle hide leather Calf and kip leathero Goat and kid leathers Sheep and lamb leathers'

    Shoes Manufactured food products Wheat- flour Meatpacking Other manufactured foods Processed fruits & vegetables

    pPreliminary. * Data not yet available. l/ Steel indexes are based on dally average output, with holiday allowances for

    July 4, L%bor D:iy, and Christmas. This year the influence of Labor Day on steel mill operations was very slight. This accounts for practically all the Increase shown froir. August to September and for about, one-fourth of the increase from September ly^e, when influence of Labor Day was of acme importance. He-vljlsion of allowai\c06 for holiday closings is under consideraiion.

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

  • INDUSTRIAL PRODUCTION (1935-39 average'= IOO)

    Adjusted for seadonal varlaclcn

    Wiuhout 8ea&onal adju$tmen%.

    f { '1946 1 9 ^ i ' lyc Sept. & Sept. Sept. | Aa#j. I Sop .

    MANUFACTURES (Contd.) Paper and producta * 1>S 150 | * 155 15C

    Papyrboard 162 1 / 8 1/2 | ! 182 1-5 If 2 Newsprint production 97 94 93 6/

    Prin- ing und publishing pl43 144 12c, , 1 pl-3 13# 1 2 b Nuwcprlnc consumption 131 133 117 l 1 2 120 lly

    pL troleum end coal products j 1 * p200 plbj. | ! * p200' pl8l G\oolino j ! Pl65 163 146 | 1 Pl5 163 IhO Cuke 1 # 171 166 1 i * 171 lob Byproduct * 164 161 j I * 164 161 Beehive- vh2y 4i6 352 j I P 4 2 5 4l6 352

    CbJiiLcals p251 2 5 1 235 1 | p251 24 f ^ 3 5 Prison u2y4 294 256 j 1 p2y. 294 250 Industrial chemicals p2'9 4 3 1 395 I i P - + 2 9 431 395

    Rubber pr^ductG p212 209 234 p 2 1 2 2 0 ^ 5j-MINERALS

    FuMn ploO 1 5 5 151 ploO 1 5 5 1 5 1 * u n l n c ^ M : c o % l pJ',1 151 i'-i > 1 6 1 1 5 1 163

    An hr ic i i v px22 114 i.2, i ! P 1 2 2 114 125