Evening star., 1939-08-08
National Income
For June Advances
Slightly Above May.
Expected lost-HoIf Rise
Not Likely to EquoI
Lost Years Increase
Special Dispatch to The Star.

SpeCial OlSpdtCn 10 Inc StAr.
NEW YORK, Aug. S.-The ma
tional income produced in the
United States in June amounted to
SIS, ,342 100000. or only slightly more
than the May figure of 5000 900 900.
The national income in June, how
ever, was ia per cent larger than in
the corresponding month last year,
when it amounted to S4,794, 600, 900.
The income in June brought up the
total for sthe first six months to
$32 ,083, 900. 900 this year, as COM
pared with S28,876 900, 900 last year,
an increase of Ill per cent.
According to the Alexander Ham
ilton Institute. preliminary informa-
ton indicates that the national in
come in July was larger than in
June and the prospect is that the
national income will continue to ex-
pand until November as the result
of the seasonal increase in the ship
ments of farm products During the
last two months of the year, the
outlook is that the national income
will show a rather pronounced
slump.
Sharp Expansion Last Year.
The present prospect is that the
total national income for the last
six months will be, at the most, only
slightly larger than in the first six
months. This will be in marked
ct1
which occurred in the second half
of last year. The prospective failure
Of similar expansion to occur this
year indicates that the national in
come during the last half Of 1899
will be smaller than in the same
period in 1888, dropping from $35,-
117,000000 to s32,192 100000, the
maximum figure indicated at the
present time.
The present outlook is that the
decrease in the national income
during the last half of the year from
the amount produced in the corre-
spending period of 1888 will nearly
Offset the gain in the first half of
the present year. Consequently, the
total national income for the full
year is not likely to exceed $64 ,275,-
100000 at the most. a figure only
slightly larger than the annual 1888
income of s63 ,993 900 900. The ma
tional income this year will thus
fail to recover the loss suffered in
the slump from 1887 to 1888, when
the national income dropped from
$71,853,000,000 to s63 ,993, ,O0O,0 900.
Increase in Production.
The slight rise in the national in
come from May to June was entirely
the result of an increase in produc-
ton. Prices dropped to new level
for the recession which began in
1887. The gain in output from May
to June was due to expansion In
mining and manufacturing activity.
Shipments of agricultural products
showed a slight curtailment.
The increase in the national in
come in June over the same month
last year was also due entirely to
gain in output which more than
offset a decline in prices. The index
of total production, on the basis of
1929 as 100, was $50 in June this
year, as against 745 In the same
month last year. The price index,
on the other hand, declined to 1914
this year from 822 last year.
Activity in all economic fields in
June was higher than a year ago:
Factory output in June showed the
greatest increase over year ago
with a gain of $50 per cent. Mine
output showed an increase of 154
per cent, while shipments of agri-
cultural products were only slightly
higher than a year ago.