Salt Lake Telegram | 1938-01-08 | Page 13 | Business Factors

Business Factors NEW YORK YORK Jan 8 AP The AP-The The current cur cur- rent recession in business completed its fifteenth consecutive decline this week Is with wll industrial activity dropping to the theowest te lowest level in more than two years yeas The Tle Associated Press seasonally ad ad- index felt fell to per cent of the 30 1929 average from a a week ago and compared with wih 1020 last year The slump continued to lose impetus however as three tree components of the tle Index turned up during the tle week week These were outweighed by declines in cotton turIng and freight to new lows for or the past two years Automobile assemblies assembles staged a 8 sharp rally raly partly paly as an offset to the te previous weeks week's shutdown Steel operations Improved moderately Trade rade quarters reported increased inquiries from rom both railroads and automobile manu manu- Residential Residental building scored a fractional gain Freight movement on the te other oter hand was wa down sharply as a result of smaller shipments shipment of industrial items especially In inthe i the he than less than less classification Electric production and cotton coton turing representing the te consumer goods Industries were lower The Index with Us Its Is seasonally adjusted indices based on the latest available sta- sta and with wit 30 1929 as compared as a follows Latest Prey Prevo Year Week Week Ago Composite index 1020 Automobile prod T 9 78 Steel mill mi act act 1066 Stee Cotton Coton mfg act act 7 1322 Elec pow prod 1128 l 1132 1 1179 Residential g ll Total 8 x New 38 1937 lows