Evening star., 1934-02-07
BUSINESS BOOMS,
SURVEY REVEALS
General Improvement Is
Shown in December and
January Statistics.

After months Of recession, Decem-
Der and January statistics show
general improvement in business.
This conclusion is drawn by the
Bureau OF Foreign and Domestic Com
nerce Of the Commerce Department
In the monthly Survey of Current
Business, digest Of more than 1900
statistical reports compiled by Gov
ernment and private agencies.
As indicators of better conditions,
the survey cited that industrial pro-
duction and freight car loadings fell
of less than the usual seasonal
amount, retail trade was higher, and
foreign trade and construction con-
tracts awarded recorded contrasea-
sonal increases.
Auto Production Gains.
Except for construction. the De-
cember gains were not large. Auto
mobile production, although retarded
by new model difficulties, increased
sharply, even into January In the
same month steel mill activity did not
expand as much as is usual in jan
uary, but operations were at level
considerably higher than in January,
1888.
The adjusted index of electric
power output, which rose during De-
cember, declined slightly during the
first three weeks of January, but this
indicator was Offset considerably by
construction contracts, which, through
the first three-quarters of last month,
showed a continuation of the favor
able trend of recent months.
The only fly in the ointment of op-
tinsm was found in employment and
pay roll figures. Both indices de-
clined, but the decrease was slight in
both instances.
Commodity prices moved upward in
the first three weeks Of January after
months Of recession. The index Of
wholesale prices for the week ended
January 20 stood at 1913, exceeding
the 1888 high of tit recorded in the
third week of November. The rise
Of 2.7 per cent in wholesale prices
during the four weeks following De-
cember % more than offset the de-
cline during the five preceding weeks.
Farm Products Recover.
Prices Of farm products. which re-
ceded between mid-November and
December, recovered part of the
decline in the following month.
Distribution of goods through re-
tail channels continued to show gains
in dollar volume over last year. and
scattered reports indicate the decline
in January was less than the usual
seasonal decline from December.
Department store sales advanced
sharply in December as a result OF
holiday buying Adjusted for seasonal
variations, the index was about per
cent higher than November and ap-
proximately 7 per cent higher than
the preceding December. Prices of
goods on the other hand. averaged
about % per cent higher than in De-
cember, 1882, so the physical volume
Of goods sold this year was somewhat
less than the year before
AS for employment and pay rolls.
the usual seasonal tendency during
this period is moderately downward,
and after allowing for that factor,
employment in manufacturing es-
tablishments declined from Septem-
Der to December by 3.4 per cent. Des-
pite the falling off during the last
three months of the year. the factory
employment and pay roll indices in
December were 19 and 80 per cent
higher. respectively, than in the same
month year ago.
Imports and Exports Gain.
Both imports and exports increased
about 4 per cent in value in Decem-
Der, which was contrary to the usual
seasonal trend. Ordinarily the value
OF exports falls off about per cent
In December, while the value of i'm
ports declines about ! per cent. Heavy
imports of spirits and wines, which
were valued at $40, $50 900 in Decem-
Der, were responsible for the increase
In import value
Building operations during 1888 did
not share the marked Improvement
which occurred in most other ma jor
lines Of activity. Contracts awarded
In the last half Of the year, however,
showed a substantial increase, pri-
n1arily as a result of public works
undertakings.