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Survey of Current Business May 1926

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Survey of Current Business May 1926 UNITED ·STATES DEPARTMENT' .. \ ' '' . ' '6.F COMMERCE' ' ,'- ' ,, ' ,. L WASHINGTON· ·:u····· ·. R···•·V>E·····.··y····· .. o··.. · F·'. ·. •:S • ~ • • , •' ~ '', • ':': - ' " J '~ ,· I ' : '; ', ' ' I ' '• ' •' ', .' ·.' • , '' •' ~-: ',: c ,'~· ' ' ' ' •C·URRENT .BUSINESS ,', ',', ., '\ '' •.; .•" . ,; . ,r i .., l\. ~I ' COMPILED BY ,-i " - .,., - ,BUREAU .OF THE' CENSUS . B\YRE)\U()F·FOREIGN: ;\NO DOMESlJC:CO.MMERCE:; I. \' ··. ·,; ·· .. · BUR~AU. OF STAJSDAR.:b~ . , . ' ' IMPORTANT' NOTICE: '• ... ··, . ~ ,' :I ·I~ additWn UJ figUres, give'~!' from Govern.~nt' sbutces, tker.e ~~e ~io ·i~porated f01' completeness.of , . ,· service fig'Uf'es from other sources generally accepted by the traaes, the authority and responsibility )'for which· are ..Wted in .the ''Sources of Data" on pagB,s I52';IQ5 of ike }lebr,uary, I9~6~ #~e ' : -' J ··, ' '' ' !· ' . • ' /.,· . ,': ' '' . '; ' ·< ' - . ' ..; ( ,s~hs'eti~clon pric.~ of t~e S~VEY'· ~~ C~llhNT ;Btysi~sss i~ Sl.SO'a y~at:;: ~Ingle .. c~~i~s (monthly),l6· cerits;(semjannual .. i&su~s, 25 ·cent"c:J~:~reigti ~bs<;ription~, $2;25; single :copies (m{)rtthly issues), in~luding ,postage; 1:l ·ceqts; ·semiannl,lal ' ·.issues., 3~ cen\:s~ ;.~ Subsctiptic:>n ptiee of ·COMMERCE REPORTS is $4 a yf;ar; .-yvith, the $tfRV];!Y; $5.50 a y~ar;' . Make . .. re~tt~nces:.only 1:9.'S1tpetiri~ende9t of Do.,:t,~~e~ts,. Washingtqni D: 'G.; by. post~l, ·~on~y prder, e~p~ss 9r4er, ?r ,New ' ,~ '' · ' · . , Y,orr qraft. CUrrency, a! sender s nsk... :Po$tage stamps• or for~gn m9ney not accepte4. : · · · · .. · . ' ' ' ' . ; '' ,. ,, . ,; '· .·. ". ,, . · .. ,·· .. '~ ', "' ,, < ' ,', ~· ;\:' . INTRODUCTION THE SURVEY OF cUnRENT BusiNJ;ss is desig11ed to per cent over the base period, while a relative number present. ea,ch month a J?ic~u;re of thebusin~ss situatio!l of 80 means a decrease of 20 per cent from .the base. by settmgfotth the pnnmpal facts regardmg the van­ ~elative numbers may also be used to. calculate the ouslines of trade and industry. At semiannual inter­ approximate percentage increase or decr6llS!'l ina move­ vals detailed tables are published giving, .for each item, . ment from one period to the next~ Thus, if a relative monthly figpres .for .the I>ast two years and yearly com­ number at one month is 120 for a later month it p~isonsJ.;. where availaole,··back to. 1913; also .blank. is 144 there has been an increase of 20 per•cent. ·· lines sumcient for six months have been left at the In many instances comparable figures ·for the pre­ bottom of eaeh table enabling those who care to do war years are not available, and in such oases the year ~0 to enter ne:w figures' as soon; as they ~ppear (~ee 1919 hll,S usually been taken as the. ba.se. ·For some : ( Issue for February, 1926, No. 4?4}. In the mtervenmg industries 1919 can not be regarqed as aproper base; month~ the ~ore important comparisons only are due to extraordi.na;ry co.ndition~ in the industry, and gi-v:-en in. the table. entitled ''Trend of. bus,iness move- some more representative penod has. been chosen. ments." . ' . In many. ca~es rela~ive n~mbers of less' importance . ADVANCE SHBTS have been temporarily omitted. · Most of ·the relative numbers tl.ppear in a special ·•. Itealizing thft.t current statistic& are :highly perish­ section of the ;semiannual issues, as in .Tables 107 to . able and tliat. to be .of use they must reach the business 127 of the February, 1926, number, thus allowing 'easy. ·man at the earliest p9ssible moment, .t4e department comparison on a pte'-war base for all item.s for which . ·has arranged to '~stribute t~:dvanceleaftets every w~k; · relatives could be comp.'ut{)d . to subscrtb~rs m the Urute<i States. ·The ·leaflets . are. usually .mailed. on. Tuesdays and. give 1,3UCh infor:- INDEX-NUMBERS niation .as ~as bee:t;t. received. duri!lg. the preceding . When two or wore series of relative'numbers are week... · ~e InformatiOn eon tamed m these leaflets 1s co~bi~ed by ·a. system o! weightings ·the. res~lting .. also reprinted ·jn '' :Co:tll}!ilerce Re_ports/' .issued weekly' series Is denommated an, 1ndex number.. The mdex by, the Bureau of lfore1gn .and Domestic Commerce. number, by combining m.any ;relative i:mmbers, is Tne monthly bull~till is distributed a!) quickly as it desigJ?-ed t<;> show tpe trend of au entit~. group of in.: ca~ be oompl~t~d ,and· printed. ·. · .·. · · dustr~es or for the .Gountry as a whol~,. mstead .of !or · the smgle commodity or lndustry which the relative . BASIC DA'J.'A number ¢overs.·· Comparisons with the base year or The :figu'reareported in the aceomp,anying tables are . With 9ther peri<?ds are made· in the same manner as in ver!.. largely those a.h:eady .in ~~ence. The chi~f , the case of r.elatlve numbers. .. function of the· d.epattment 1s to bnng together these RA 'l'IO CHARTS i;Iata Which, if available at 8.ll, are ~;JCattered in hun- ' . .. ' ~reds of different .. publications.. A r portion of these ... In: many instances ·'the charts qsed in the'Su:rivEi · dat.a a;re collec~ed.by.Govel'Iijllent'deptWtmehts; other OF CuRQNT B'C!'BIN:E;ss.areof. the type term~d ~'~atio 1 figur-es are c. oll:!.piled · by.· te. chnic&l jol!rnals1 and still· .Charts ' (loganthmic · sc~e), notably:·. the .Busrn.ess others are report~ by trade assoCiatwns. Indicator cll.arts oil page 2. · T)lese charts show the · ' ·· · · · percent~e i:licr·.. ease and al.. low direc. t ~OO.mJ?arisons be:- . RELATIVB NUMBERS tween tlle slope of one curve and that of any other · · curve regardle!i!S of itsloca~ion on the diagram; that . Tolacilltate comparison between di.tf&entiteins and .. is1 a.10 per centincrea.~;e in ~n i.tem is,give11 the same r~der the trend of. a movement more a.ppa:rent, xela• \t'ert1cal· movement whether 1ts curve Is near. the bot- tive riumbera (often called ~'.index numbers," a term. tom or near the top of the eb.art. · · . · · • referring more particularly to a special ;kind ofnutnb~r · .The difference o~tween .this and the ordinary form · · d;ese:r:ibed below) ha~e ·been calculated. · The relative of ..a chart ca.n be made clear.· by an example. If. a ';' .' nufubers enable. the. reader to s.ee a,t a glance the certain itell:l, having a. relative number of.400in one ·. g~era.l U,Pwa:rd or downwa~d ten4eJley of a move- . month, increas~ 1Q per cent in the followiQg month, · ment ·which can not so easily be '~asped from. the its .relative number will b~'440, and, on,an .. orrlinary actulll figures. , ·, · chart wouJd he plotted 40. equidistant scale points · In computing these relative numbers the last ~re- higher than the preceding month, Another. move- .· war year,l91~, or in some instances a fiye·yea:r aver• tnent With a: relative number of, say, 50 ~lsc,dncreases · .·... age, l90~..-19H, htl.$ been used as a base equal to 100 .10 per cent,. maki~g itsrela~v~ numbe:t .55._ On the . '-' ''.: ;w~erever. pt>sstble. · . , .· ·· or<hnary (arithmettc) scale this Item. would rtse only 5 ~ ' l ··· .The relative numbers ate c9mpU:ted by allowing the eqpidistant' points,. wheteas the previous item r9se 40 'rn.ontbJy,average 1or the base. year ~:r period. to equal' pomts, yet each sho'!ed t~e ~arne percenta~e increase. '',,. ·100, If .the mov~ment for a current.month Is greater The ratw c,harts av01d this difficulty and;,g1ve to each . than th~ Pttf'!e, .the relative':Q.umber will be greatet than of the two :O;lovements exactly the. same' .verticaJ rise l 00, and viee versa. The differehee. between 100 .and . ,and hence . the .slopes . of the two' lines . ate directly · the. r~l~tive n1;1mber will give ·at once· the per cent comparable. The ratio. charts compare percentage increase.or de~rease Cbmpared rWitb the base. period. changes, while the aritill;n.iltic.charts compare absolute Thus a relative number of 115 me$)-ns an,increase .of I~ changes.. ·· · ·· · · . '' ,'l'hlB isllue J;Jresenta'.J!!tJCticQ.lly co~npteteAata 'for the. month ~fMarch Gnd .alB'a itflms Co'Derinp. the. ea,rly weeki! ~~ Aprd,, recelved up to .APnf 14. (See ch«rta and table, pp~ 4 and 5.)' . As most data coverin11 (I partacular mont!t"s busi· neB8(Jre not flMi/a,ble untd fr:am 15 to 30 day~ after the·clOse of tl}e month, a completepacture of. thbt n)()nth's operations .crm not be pre~ented at an "rly da.te, but .tlie adoonce leaflet• gi'De e'Dery WfJf!k the latest data available.; . ' • 1,' . -. .- ' UNITED STATES DEPARTMENT OF COMMERCE WASHINGTON SURVEY OF CURRENT BUSINESS COMPILED BY BUREAU OF THE CENSUS BUREAU OF FOREIGN AND DOMESTIC COMMERCE BUREAU OF STANDARDS No. 57 MAY 1926 CONTENTS TEXT MATERIAL TREND OF BUSINESS MOVEMENTS Page Page Preliminary summary for ApriL_______________________ 1 Textiles and buttons______________________ ------_____ 30 Course of business in March: Metals and fuels_____________________________________ 31 General conditions_______________________________ 9 Automobiles, leather, and paper_______________________ 34 Summary of indexes of business___________________ 10 Paper and printing---------------------------------- 36 Review by principal branches of industry and com- Building construction and housing __ ------------------- 37 merce---------------------------------------- 12 Lumber products------------------------------------ 37 Stone, clay, and glass products________________________ 39 BASIC CHARTS Chemicals and oils___________________________________ 40 Monthly business indicators___________________________ 2 Foodstuffs__________________________________________ 41 ·Weekly business indicators____________________________ 4 Transportation, tobacco, and public utilities____________ 44 Wholesale prices in March_ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ 6 Employment and wages______________________________ 46 Automobiles, building, iron and steel, and locomotives___ 8 Distribution movement_ ________________ ------________ 47 Production, stocks, and unfilled orders__________________ 10 Banking and finance ____________________ ---------____ 48 Wholesale price comparisons by groups ________________ _ United States foreign trade and foreign exchange________ 50 Canadian trade and industrY-------------------------- 51 GENERAL TEXT TABLES NEW DETAILED DATA Monthly business indicators _________________________ .
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