BOARD OF GOvJR] w Z

RS OF THE FEDERAL RESERVE SYSf

V j ^ STSF

For release in morning papers 'Saturday, January 26, 1946

BUSINESS IHEEXBS

MS BI - 257 |53PHEigM

JAN 281946

1939av&rage " ,10Q for factory employment IV 1923-25 average, = 100 for construo'tioYv contracts:

1935-39 average - 100 for a l l other series

bo j m w nWTrWTffllr f

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Adjusted for seasonal variation

Without seasonal adjustment Annual

indexes ' ' 1 9 a 1945 19UU Annual indexes

Dec, | Bov, 1 ixo. Bed. | Nov. Dec. 194b 19w

Industrial production pl62 Total pi6U 168 232 pl62 167 230 . P203 . 235

Manufactures 248 P214 Total pl70 173 249 pl68 174 248 P214 252

Durable pl86 192 343 pl.05 192 342 >274 353 Nondurable pl 56 158 173 pi$4 158 171 pl66 171

Minerals p l & 137 Pl27 133 131 ,p!37 140 Construction contracts* value

41 Total * p96 51 * P85 40 * 41 Residential * pU2 14 S p4o 12 * 16 All other * plltO 81 - . * pl21 63 S 61

Factory employment 1 121.6 163.3 pi4;.3 169.1 Total plSO.Q 121.2 163.0 p i i i . i 121.6 163.3 pi4;.3 169.1

Durable goods plJJ.B 136.lt 219.7 PD3.8 136.5 219.7 P181.5 251.4 Nondurable goods piio .6 109.2 118,3 p i n , 2 109.8 115.9 pl ! 3 . 2 119.9

Factory payrolls 336.8 Total 'mm . * 212.8 336.8 * 339.1

Durable goods > * 232.4 465.6 * 474.2 Boxidurable goods' ' * 193.6 212.8 * 206.9

Freight oarloadinge 127 133 137 119 136 128 135 140

Department store sales, 274 186 value P215 227 196 P350 274 319 P207 186

Department store stocks, 136 value - . * . 150 136 * 173 127 * 153

p^-jpreTlmizmry. ^ Data not yot available. Note ."Production, earlotvdings, and department store sales indexes based on daily

averages.. To convert durable menuf^cturtjs, nondurable manufactures, and minerals indexes to points in to ta l index, shown in Federal Reserve Chart Book, multiply durable by ,579# nondurable by *k69 &nd minerals by *152,

Construction contract indexes based on 3-month moving averages, centered at . aecqnd month, of F. iR, Dodgu data, for 37 Eastern States, To convert indexes to

value f igures, shown In thy Pederel Rcs^rvu Chart Bool * multiply total by 4kl0,26f,000, rvaidcntial by $18^^137,000 and a l l other by $226,132,000.

Employment without seasonal adjustment, and payrolls index compiled by Bufiw* of labor S ta t i s t i c s ,

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INDUSTRIAL PIUl&d#DN (1955" 3$ eve-rage- = 100)

Adjusted for seasonal variation 5CCS

Without onal adjustment Annual inaexes 19U5 I9I+4 1945 1944

Annual inaexes

Dec. | Nov. Bcc. Dec* 1 Nov. Dee* 1945 19Wt

MANUFACTURES

Iron and steel pl6l* 167 198 pi64 167 198: 165 206 Pig iron * 158 190 * 158 190 pl76 199 "Steal 173 178 215 175 178 215 200 227

Open hearth 156 160 181 156 160 181 167 186 Electric 294 306 456 294 306 456 434 521

Machinery p234 251 431 p234 231 431 pM 439 Transportation equipment P215 250 709 p215 250 709. 'puerz 719

Automobiles p92 135 235 P92 155 235 P179 251 Nonfcrrous motels & products * 159 229 * 159 229 p210 259

Smelting and refining * 1U7 186 * 148 186 P176 247 Lumber :;nd products pXOO 96 122 P94 95 115 pllO 125

lumber p% 85 111 P7i+ 81 97 p98 115 Furniture pi 51 123 142 Pi 51 123 142 pi 53 144

Stone, clcy, and glass 164 products Pl6l . 158 165 pl 56 161 159 P163 164

Plc;tc class 5 4 51 3 4 51 P50 61 CciTi' nt * 113 90 * 122 82 p95 85 Cisy products p!25 118 116 pl28 122 120 pl l8 323 Gypsum and plt.stor products P165 181 171 pl90 165 175 P177 183 Abrasive c.nd asbestos"

P269 , products p215 215 307 P215 215 507 P269 502 Textiles and products * ' * 152 $ * 152 * 148

Cotton consumption 125 . 133 146 125 133 146 137 145 Ra yor. deliveries m 225 215 * 225 215 P217 196 Wool texti les * 4 152 * * 152 S 149

le'ithvr products . * 116 114. * 117 115 P117 115 leaning 109 115 * U 3 114 pll2 111

Cattle hido leathers * 125 127 $ 150 127 pl28 119 CcUf end kip leathers * 83 86 * 86 84 p88 82 'jot t t.nd kid ler/;hcrs * 51 72 * 50 73 P56 81 Sh^ep & l;.mb leathers * liiO 154 * 148 146 pl42 151

Shoos * 120 113 * 120 115 pl20 114 Manufactured food products plij-9 150 155 pi46 : 151 150 pl49 152

TNhest flour pi54 133 123 pl?3 134 122 pl52 118 k(:Stp&cking pi 57 155 158 pl84 171 184 pi43 177 Oth-- r manufactured foods pl53 151 159 pl50 158 155 - P154 153

Processed fruits -nd 134 vegetables P125 127 146 P96 117 114 pl3l . 134

Tobacco products 112 154 131 164 157 121 156 125 Cigars m 110 95 87 110 95 95 92 Cigarettes 159 19k 155 128 198 142 170 152 Other tobacco products 64 94 108 57 97 95 92 86

pPreliM'nary. * Data not yet c.v-iltble.

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

ftsTRIAL PROMOTION (1935-39 average = 100) 3.

Adjusted fo r seasonal variation

Without sw&sonal adjustment Annual indexes 1%5 1544 1%5 1944

Annual indexes

Dec. 1 Kov. tec. Lvc. I Nov. Doe. 1945 11944

E/JfJFUTURES (Cont'd.)

Pcpor :.nd products * . 142 135 * 142 134 P139 139 P-porboard i w 158 145 143 158 145 154 153 newsprint production 86 81 85 84 82 aii 80 79

Printing and publishing pll2 114 104 pi l4 118 106 pl06 101 Newsprint consumption 92 96 84 96 104 88 89 85

Petrolvuir & coal products * * 268 * 268 * 247 Petroleum refining * 263 $ . * 283 * 258

Gasoline pi44 pl52 141 pi44 pl52 141 pi46 135 Fuel oil * * 165 * * 165 * 163 lubricating oil $ * 133 * $ 132 * 128 Kerosene * # 119 * m 123 * 126

Coke # 147 167 $ 147 m Pl5? 172 Byproduct * 144 163 * 144 163 P152 165 Beehive p269 267 296 p269 267 296 P319 433

Chemicals p232 229 512 P233 230 313 p284 324 Rayon p a a 24l 242 p244 241 242 p240 236 Industrial ch< rdcals P373 369 396 p94 112 109 p94 112 109 pio? 126 Crude jctroloum pHiO pl 39 146 pi4o P139 146 pi46 143

Mctuls plOS 111 * P79 68 * 113 Iron ore * 108 61 * 206

p-Pre 1 luiint'.ry or estimated. * " Data 'not yet avix'ilabia.

FREIGHT CAR10ADING8 (1935*"39 nverci^c = 100)

Coal 133 148 127 133 148 127 134 143 Coke 164 167 166 172 167 175 172 185 Grain 153 167 134 144 164 126 151 139 Livestock i4o 145 128 135 183 124 124 124 Forest products 106 110 135 94 108 120 129 143 . Ore 117 134 153 36 114 41 169 180 Miscellaneous 130 133 151 123 139 142 142 147 Mf;rcht.ndioo, l *c . l . 74 74 68 71 75 65 68 67

Motetto convert' cotxl and miscellaneous indexes to r Dints in total index, shown 5 i Fedurul Rosurvc Chart Book, imltiply coal by .13 &nd miscellaneous by *5U8

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