BOARD OF GOVERNORS OF THE FEDERAL RESERVE REv i

SYS' i

G.12.3

SEP 1 ; lu 4 | For Immediate release, Wednesday, September 15, 1954 |

September 15, 195% BUSINESS INDEXES

1947-49 average = 100

1 i 1 Unadjusted 1954 II953. 1 195# 1953 Aug. I July I June I Aug. Aug. 1 July 1 June 1 Aug. Industrial production

136 Total pl24 124 124 136 pl24 116 124 136 Manufactures Total P125 125 125 138 pl26 217 125 137 Durable P135 134 134 157 P133 126 135 153 Nondurable pll6 115 115 119 Pll8 108 115 121

Minerals pill 113 114 119 P113 111 114 122 Consumer durable goods l/

116 Total pll6 118 119 129 pll4 103 116 127 Major consumer durables pl26 128 128 142 pl21 108 125 138 Autos pl21 127 136 150 P123 125 143 153 Household P132 131 124 136 pl21 94 112 125

Other consumer durables P 94 94 96 101 P 96 91 94 104 Construction contracts, value Total n.a. 225 240 216 n.a. 206 207 205 Residential n.a. 236 251 183 n.a. 233 227 184 All other n.a. 217 233 239 n.a. 188 193 220

Employment and payrolls 2/ pl09.6 109.8 114.1 P109.8 109.4 114.3 Nonagricultural emp., "total pl09.6 109.8 110.1 114.1 P109.8 109.4 110.1 114.3

Manufacturing prod, -workers 98.9 113.3 Employment, total P 99.9 100.2 101.8 112.7 plOO.9 98.9 100.9 113.3 Durable pl04.8 105.4 107.6 123.5 P104.3 103.9 107.5 122.3

Nondurable P 94.2 94.1 94.9 100.2 P 96.9 93.1 93.1 103.2 Payrolls, total - - - - el35.4 132.5 136.6 154.0

Freight carloadings 84 82 84 98 86 86 87 101

Department store sales, value ell2 112 112 112 e 98 88 106 96 Department store stocks,value n.a. 124 122 131 n.a. 115 116 126

For description see Federal Reserve Bulletin for May 1954, pp. 438-452.

2/ Seasonal factors for employment series revised for recent years, be obtained from the Division of Research, and Statistics.

Back data may

Itote: Construction contract indexes based on 3-month moving averages, centered at second month, of F. W. Dodge data for 37 Eastern States. The unadjusted indexes of employment and payrolls are compiled by or based on data of the Bureau of Labor Statistics. -Estimated p--Preliminary n.a.Not available

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INDUSTRIAL PRODUCTION (19^7-49 average = 100)

Seasonally adjusted Unadjusted 1954 1953 1954 1953 pAug. 1 July 1 June Aug. pAug. 1 July 1 June Aug-

DURABLE MABUFACTOHBS; Primary metals 106 104 108 137 101 95 109 130 Metal fabricating 148 148 145 171 145 138 146 166 Fabricated metal products 124 124 122 140 124 118 122 140 Machinery 146 142 139 165 140 128 137 157 Nonelectrical 128 126 124 145 120 119 125 137 Electrical 180 173 170 203 179 145 162 197

Transportation equipment 166 169 166 191 164 164 171 189 Instruments 134 136 135 156 132 132 135 153

Clay, glass and lumber prod. 113 113 118 125 117 109 122 129 Stone, clay and gloss prod* n.a. 132 129 135 n.a. 130 131 137 Lumber and products n.a. 96 108 116 n*a# 90 115 122

Furniture and miscellaneous 122 121 120 135 119 112 116 132 Furniture and fixtures 107 107 104 119 105 100 100 116 Miscellaneous manufactures 132 130 131 146 129 121 127 143

NONDURABLE MANUFACTURES: Textiles and apparel 100 99 97 106 104 87 95 111 Textile mill products n.a. 96 92 104 n.a. 82 92 107 Apparel and allied products n.a. 102 102 109 n.a. 91 99 115

Rubber and leather products 98 99 106 111 99 86 106 112 Rubber products n.a* 96 119 127 n.a. 85 121 122 Leather and products n.a. 101 95 97 n.a. 88 93 103

Paper and printing 126 126 126 126 123 116 126 123 Paper and allied products n.a. 133 136 133 n.a. 120 136 135 Printing and publishing 120 121 121 121 116 114 119 116

Chemicals and petroleum prod. 143 142 142 143 140 134 139 141 Chemicals and allied prod. 150 149 148 148 145 138 144 143 Petroleum and coal products 122 124 124 132 125 124 124 135

Food, beverages and tobacco 107 106 107 108 117 109 110 118 Food and beverage infra. 107 106 108 108 117 110 110 118 Tobacco manufactures n.a. n.a. 107 104 n.a. n.a. 113 117

MINERALS: Mineral fuels 112 114 114 119 Ill 110 113 119 Coal 67 70 69 86 67 57 63 85 Crude oil and natural gas 133 135 136 135 133 135 136 135

Metal, stone and earth min. 108 108 110 120 122 119 123 137

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3-INDUSTRIAL PRODUCTION (1947-li9 average * 100)

Without seasonal adjustment 195* 1953

July 1 June 1 1 May July I June Primary metals Ferrous metals 91 105 104 127 138 Pig iron 9% 99 94 132 1 3 3 Steel 96 109 108 137 143

Carbon steel 96 111 108 131 137 Alloy steel 93 102 109 170 1 8 3 Castings and forgings 82 97 97 106 1 2 7 Nonferrous metals 104 122 120 115 139 Fabricated metal products Structural metal parts 123 126 125 135 140 Stampings and misc. metal products 106 114 116 137 143

nonelectrical machinery Farm machinery 79 84 84 98 i o n Industrial and commercial machinery 123 127 127 143 148 Machine tools and presses 152 157 161 184 1 8 9 Electrical machinery

Electrical apparatus and parte 151 156 159 176 1 8 2 Transportation equipment

146 l6l 1 6 6 Autos 125 143 146 l6l 1 6 6 Trucks 81 96 101 118 1 0 6 Aircraft and parts 471 472 472 46l 452 Railroad cars 17 25 32 58 6 2

Stone, clay and glass products Glass and pottery products 108 115 117 113 1 2 3 Cement 150 138 137 142 1 3 8

Lumber and products 106 Lumber 91 106 117 109 1 1 7

Millwork and plywood 92 154 1&L 128 1 5 2 Textile mill products

114 Cotton and synthetic fabrics 85 96 99 95 114 Cotton consumption 81 93 96 87 110 Synthetic fabrics 105 109 107 124 130

Wool textiles 76 69 68 78 91 Knit goods 88 106 105 102 117

Apparel and allied products Men's outerwear 82 108 83 124

Apparel and allied products Men's outerwear 82 95 108 83 124 Women's outerwear 96 104 105 ill 119 Misc. apparel, etc. 96 98 97 107 110

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IHDUSTRHL PRODUCTION (1947-49 average = 100)

Without' Seasonal adjustment 1954 1953

July 1 June 1 May July 1 June Rubber prpducts _ >;

** * - * ....

Tires and tubes 84 119 111 >09 123 leather and products : 119 >09 Shoes and slippers b- 95 100 93 93 99 Paper and allied products 95 Wood pulp .'i ! 133 153 148 130 146 Paper and board 109 129 125 112 128 Paperboard 113 136 132 118 140 Printing and publishing , Hewaprint consumption 102 119 125 102 118 Job printing and periodicals > 120 . 120 . 119 119 121 Chemicals and allied products Industrial chemicals 148 152 150 157 161 Synthetic fibers 151 157 . 149 171 174 Paints U 7 117 116 122 121 Petroleum and coal products U 7 Petroleum refining 130 131 130 137 136 Gasoline . l4l 141 . l4o 149 145 Fuel oil 122 122 121 128 130 . Coke . 77 79 80 113 114 Food and,beverage manufactures 77

Food manufactures j-' 107 105 100 110 105 Meat products 103 .108 105 98 * 105 Dairy products t.l 129 145 135 132 l46 Canned and frozen foods 138 99 85 162 103 Grain mill products 112 114 106 108 110 Bakery products 97 97 95 102 103 Beverages . . . 120 126 115 121 119 Alcoholic beverages ' 105 114 108 107 107 Beer and ale 122 .. 128 117 127 117 Coal 117 127 Bituminous coal . ; 59 65 65 . 71 83 Crude oil and natural gas 59 65 . Crude oil 121 125 124 127 126 Metal mining 109 H 9 108 138 142 Iron ore , . 139 152 126 . 199 201 Stone and earth minerals

: 129 127 125 130 130

Note.Groups and subgroups Include Individual series not published separately,

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CONSUMER DURABLE GOODS 49 average - 100) Seasonally adjusted Unadjusted

1954 19% 1954 1953 July 1 June 1 May July Julyl June I May July MAJOR HOUSEHOLD GOODS: Furniture and floor coverings 102 96 96 115 89 93 92 101 Furniture 104 102 100 120 98 98 96 112 Floor coverings 94 79 84 102 62 80 81 t'7 Appliances and beaters 122 110 117 123 93 112 112 CA Major appliances 122 111 120 127 90 114 117 93 Ranges n.a. 81 83 113 n.a. 76 80 72 Refrigeration appliances 135 131 144 138 109 l4l 147 112 Laundry appliances 136 113 124 135 90 117 111 89 Heating apparatus n.a. 108 106 111 n.a. 104 96 95 Radio and television sets 245 246 198 285 116 165 155 15S Radio sets 47 45 43 73 29 44 48 45 Television sets 624 631 493 689 281 397 360 310 OTHER CONSUMER DURABLE GOODS: Auto parts and tires n.a. 96 90 90 n.a. 96 90 92 Misc. home and personal goods 97 96 96 112 90 93 94 105

OUTPUT OF MAJOR HOUSEHOLD GOODS (1947-49 average = 100)

Without seasonal adjustment 1954 1953

July 1 June 1 May July 1 June Woven carpets 34 66 68 45 82 Gas ranges n.a. 70 71 62 72 Electric ranges n.a. 66 96 89 135 Refrigerators 66 78 85 79 98 Freezers 125 188 169 147 198 Washing machines 81 112 107 80 138 Driers and ironers 169 158 14? 172 212 Vacuum cleaners 69 69 78 54 70 Furnaces !! & # 94 85 95 96 Water heaters && 134 125 93 112 Auto radios 68 96 112 119 143 Household radios 18 30 30 25 39 Table model TV 299 428 396 211 310 Console model TV 265 369 328 400 490

Note.--For description and back figures see Federal Reserve Bulletin for May 1954 pp. 438-452, reprint available on request. Back figures, not in Bulletin, on individual indexes for major household goods, without seasonal adjust-ment, also available on request to Division of Research and Statistics.

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