Abstract

New Deal Recovery
Stewart, Maxwell S. | July 18, 1936 issue

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The recent contra-seasonal boom in the steel industry, accompanied by a substantial improvement in all lines of business activity, has carried the Federal Reserve Board's unadjusted index of production above the 1923-1925 average for the first time since early in 1930. At its present level the index is not only well above the 1930 average but is within five points of that of 1927. By May, industrial production had regained more than 70 per cent of its depression losses, consumer expenditures had recovered 61 per cent, farm income had come back 52 per cent, and department-store sales had rewon 54 per cent of their lost ground.

See Also:

STEEL industry & trade; INCOME; SALES; METAL trade; UNITED States. Federal Reserve Board; UNITED States
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