Month Per Cent Expanding: Seasonally Adjusted By Nber 1919-04-01 100.000 1919-05-01 100.000 1919-06-01 100.000 1919-07-01 100.000 1919-08-01 100.000 1919-09-01 83.3000 1919-10-01 83.3000 1919-11-01 50.0000 1919-12-01 50.0000 1920-01-01 33.3000 1920-02-01 16.7000 1920-03-01 16.7000 1920-04-01 0.000000 1920-05-01 0.000000 1920-06-01 0.000000 1920-07-01 0.000000 1920-08-01 0.000000 1920-09-01 0.000000 1920-10-01 0.000000 1920-11-01 12.5000 1920-12-01 12.5000 1921-01-01 37.5000 1921-02-01 37.5000 1921-03-01 87.5000 1921-04-01 62.5000 1921-05-01 75.0000 1921-06-01 62.5000 1921-07-01 62.5000 1921-08-01 100.000 1921-09-01 75.0000 1921-10-01 87.5000 1921-11-01 71.4000 1921-12-01 85.7000 1922-01-01 85.7000 1922-02-01 100.000 1922-03-01 100.000 1922-04-01 100.000 1922-05-01 100.000 1922-06-01 100.000 1922-07-01 85.7000 1922-08-01 57.1000 1922-09-01 75.0000 1922-10-01 75.0000 1922-11-01 75.0000 1922-12-01 75.0000 1923-01-01 62.5000 1923-02-01 56.2000 1923-03-01 50.0000 1923-04-01 12.5000 1923-05-01 25.0000 1923-06-01 12.5000 1923-07-01 25.0000 1923-08-01 37.5000 1923-09-01 62.5000 1923-10-01 62.5000 1923-11-01 75.0000 1923-12-01 75.0000 1924-01-01 25.0000 1924-02-01 25.0000 1924-03-01 0.000000 1924-04-01 0.000000 1924-05-01 25.0000 1924-06-01 50.0000 1924-07-01 75.0000 1924-08-01 75.0000 1924-09-01 100.000 1924-10-01 87.5000 1924-11-01 87.5000 1924-12-01 87.5000 1925-01-01 87.5000 1925-02-01 62.5000 1925-03-01 50.0000 1925-04-01 62.5000 1925-05-01 75.0000 1925-06-01 87.5000 1925-07-01 100.000 1925-08-01 100.000 1925-09-01 100.000 1925-10-01 87.5000 1925-11-01 37.5000 1925-12-01 50.0000 1926-01-01 0.000000 1926-02-01 0.000000 1926-03-01 12.5000 1926-04-01 12.5000 1926-05-01 50.0000 1926-06-01 62.5000 1926-07-01 62.5000 1926-08-01 62.5000 1926-09-01 50.0000 1926-10-01 37.5000 1926-11-01 37.5000 1926-12-01 25.0000 1927-01-01 50.0000 1927-02-01 37.5000 1927-03-01 75.0000 1927-04-01 18.8000 1927-05-01 50.0000 1927-06-01 37.5000 1927-07-01 50.0000 1927-08-01 62.5000 1927-09-01 87.5000 1927-10-01 87.5000 1927-11-01 81.2000 1927-12-01 75.0000 1928-01-01 81.2000 1928-02-01 62.5000 1928-03-01 68.8000 1928-04-01 62.5000 1928-05-01 25.0000 1928-06-01 50.0000 1928-07-01 50.0000 1928-08-01 62.5000 1928-09-01 37.5000 1928-10-01 37.5000 1928-11-01 68.8000 1928-12-01 62.5000 1929-01-01 62.5000 1929-02-01 50.0000 1929-03-01 37.5000 1929-04-01 31.2000 1929-05-01 25.0000 1929-06-01 37.5000 1929-07-01 50.0000 1929-08-01 25.0000 1929-09-01 12.5000 1929-10-01 0.000000 1929-11-01 0.000000 1929-12-01 0.000000 1930-01-01 12.5000 1930-02-01 12.5000 1930-03-01 12.5000 1930-04-01 25.0000 1930-05-01 0.000000 1930-06-01 25.0000 1930-07-01 12.5000 1930-08-01 0.000000 1930-09-01 25.0000 1930-10-01 0.000000 1930-11-01 37.5000 1930-12-01 12.5000 1931-01-01 25.0000 1931-02-01 25.0000 1931-03-01 37.5000 1931-04-01 12.5000 1931-05-01 12.5000 1931-06-01 0.000000 1931-07-01 12.5000 1931-08-01 12.5000 1931-09-01 12.5000 1931-10-01 0.000000 1931-11-01 12.5000 1931-12-01 12.5000 1932-01-01 0.000000 1932-02-01 0.000000 1932-03-01 0.000000 1932-04-01 0.000000 1932-05-01 37.5000 1932-06-01 37.5000 1932-07-01 50.0000 1932-08-01 87.5000 1932-09-01 50.0000 1932-10-01 37.5000 1932-11-01 12.5000 1932-12-01 12.5000 1933-01-01 25.0000 1933-02-01 87.5000 1933-03-01 100.000 1933-04-01 87.5000 1933-05-01 87.5000 1933-06-01 87.5000 1933-07-01 75.0000 1933-08-01 50.0000 1933-09-01 50.0000 1933-10-01 25.0000 1933-11-01 37.5000 1933-12-01 62.5000 1934-01-01 75.0000 1934-02-01 75.0000 1934-03-01 37.5000 1934-04-01 37.5000 1934-05-01 37.5000 1934-06-01 25.0000 1934-07-01 50.0000 1934-08-01 50.0000 1934-09-01 75.0000 1934-10-01 87.5000 1934-11-01 87.5000 1934-12-01 87.5000 1935-01-01 62.5000 1935-02-01 87.5000 1935-03-01 75.0000 1935-04-01 43.8000 1935-05-01 62.5000 1935-06-01 62.5000 1935-07-01 75.0000 1935-08-01 87.5000 1935-09-01 100.000 1935-10-01 87.5000 1935-11-01 87.5000 1935-12-01 75.0000 1936-01-01 87.5000 1936-02-01 100.000 1936-03-01 75.0000 1936-04-01 87.5000 1936-05-01 75.0000 1936-06-01 93.8000 1936-07-01 87.5000 1936-08-01 100.000 1936-09-01 100.000 1936-10-01 87.5000 1936-11-01 87.5000 1936-12-01 75.0000 1937-01-01 87.5000 1937-02-01 43.8000 1937-03-01 25.0000 1937-04-01 12.5000 1937-05-01 12.5000 1937-06-01 25.0000 1937-07-01 0.000000 1937-08-01 0.000000 1937-09-01 0.000000 1937-10-01 0.000000 1937-11-01 0.000000 1937-12-01 12.5000 1938-01-01 12.5000 1938-02-01 25.0000 1938-03-01 37.5000 1938-04-01 50.0000 1938-05-01 87.5000 1938-06-01 87.5000 1938-07-01 87.5000 1938-08-01 100.000 1938-09-01 75.0000 1938-10-01 87.5000 1938-11-01 81.2000 1938-12-01 75.0000 1939-01-01 50.0000 1939-02-01 68.8000 1939-03-01 37.5000 1939-04-01 37.5000 1939-05-01 12.5000 1939-06-01 75.0000 1939-07-01 75.0000 1939-08-01 87.5000 1939-09-01 75.0000 1939-10-01 62.5000 1939-11-01 100.000 1939-12-01 37.5000 1940-01-01 50.0000 1940-02-01 75.0000 1940-03-01 37.5000 1940-04-01 43.8000 1940-05-01 50.0000 1940-06-01 62.5000 1940-07-01 75.0000 1940-08-01 62.5000 1940-09-01 100.000 1940-10-01 87.5000 1940-11-01 75.0000 1940-12-01 50.0000 1941-01-01 75.0000 1941-02-01 87.5000 1941-03-01 50.0000 1941-04-01 50.0000 1941-05-01 87.5000 1941-06-01 87.5000 1941-07-01 75.0000 1941-08-01 37.5000 1941-09-01 25.0000 1941-10-01 62.5000 1941-11-01 50.0000 1941-12-01 62.5000 1942-01-01 50.0000 1942-02-01 62.5000 1942-03-01 75.0000 1942-04-01 62.5000 1942-05-01 62.5000 1942-06-01 62.5000 1942-07-01 50.0000 1942-08-01 62.5000 1942-09-01 62.5000 1942-10-01 50.0000 1942-11-01 62.5000 1942-12-01 50.0000 1943-01-01 75.0000 1943-02-01 62.5000 1943-03-01 62.5000 1943-04-01 75.0000 1943-05-01 62.5000 1943-06-01 62.5000 1943-07-01 37.5000 1943-08-01 87.5000 1943-09-01 87.5000 1943-10-01 37.5000 1943-11-01 37.5000 1943-12-01 43.8000 1944-01-01 62.5000 1944-02-01 50.0000 1944-03-01 50.0000 1944-04-01 50.0000 1944-05-01 68.8000 1944-06-01 62.5000 1944-07-01 37.5000 1944-08-01 43.8000 1944-09-01 50.0000 1944-10-01 56.2000 1944-11-01 87.5000 1944-12-01 93.8000 1945-01-01 81.2000 1945-02-01 62.5000 1945-03-01 50.0000 1945-04-01 75.0000 1945-05-01 75.0000 1945-06-01 62.5000 1945-07-01 62.5000 1945-08-01 87.5000 1945-09-01 87.5000 1945-10-01 87.5000 1945-11-01 75.0000 1945-12-01 75.0000 1946-01-01 75.0000 1946-02-01 75.0000 1946-03-01 75.0000 1946-04-01 75.0000 1946-05-01 50.0000 1946-06-01 37.5000 1946-07-01 18.8000 1946-08-01 25.0000 1946-09-01 37.5000 1946-10-01 25.0000 1946-11-01 50.0000 1946-12-01 50.0000 1947-01-01 62.5000 1947-02-01 50.0000 1947-03-01 37.5000 1947-04-01 6.20000 1947-05-01 25.0000 1947-06-01 50.0000 1947-07-01 75.0000 1947-08-01 87.5000 1947-09-01 75.0000 1947-10-01 75.0000 1947-11-01 37.5000 1947-12-01 25.0000 1948-01-01 25.0000 1948-02-01 37.5000 1948-03-01 50.0000 1948-04-01 62.5000 1948-05-01 50.0000 1948-06-01 50.0000 1948-07-01 0.000000 1948-08-01 12.5000 1948-09-01 0.000000 1948-10-01 0.000000 1948-11-01 0.000000 1948-12-01 0.000000 1949-01-01 12.5000 1949-02-01 25.0000 1949-03-01 25.0000 1949-04-01 12.5000 1949-05-01 25.0000 1949-06-01 75.0000 1949-07-01 87.5000 1949-08-01 100.000 1949-09-01 100.000 1949-10-01 75.0000 1949-11-01 87.5000 1949-12-01 87.5000 1950-01-01 100.000 1950-02-01 100.000 1950-03-01 75.0000 1950-04-01 87.5000 1950-05-01 75.0000 1950-06-01 75.0000 1950-07-01 75.0000 1950-08-01 75.0000 1950-09-01 62.5000 1950-10-01 50.0000 1950-11-01 56.2000 1950-12-01 50.0000 1951-01-01 37.5000 1951-02-01 50.0000 1951-03-01 37.5000 1951-04-01 12.5000 1951-05-01 12.5000 1951-06-01 25.0000 1951-07-01 12.5000 1951-08-01 37.5000 1951-09-01 56.2000 1951-10-01 37.5000 1951-11-01 37.5000 1951-12-01 62.5000 1952-01-01 62.5000 1952-02-01 37.5000 1952-03-01 37.5000 1952-04-01 68.8000 1952-05-01 75.0000 1952-06-01 87.5000 1952-07-01 62.5000 1952-08-01 62.5000 1952-09-01 50.0000 1952-10-01 87.5000 1952-11-01 50.0000 1952-12-01 37.5000 1953-01-01 68.8000 1953-02-01 56.2000 1953-03-01 12.5000 1953-04-01 25.0000 1953-05-01 0.000000 1953-06-01 25.0000 1953-07-01 37.5000 1953-08-01 50.0000 1953-09-01 25.0000 1953-10-01 25.0000 1953-11-01 37.5000 1953-12-01 50.0000 1954-01-01 50.0000 1954-02-01 75.0000 1954-03-01 100.000 1954-04-01 62.5000 1954-05-01 100.000 1954-06-01 87.5000 1954-07-01 87.5000 1954-08-01 62.5000 1954-09-01 87.5000 1954-10-01 75.0000 1954-11-01 87.5000 1954-12-01 100.000 1955-01-01 87.5000 1955-02-01 75.0000 1955-03-01 75.0000 1955-04-01 75.0000 1955-05-01 56.2000 1955-06-01 68.8000 1955-07-01 50.0000 1955-08-01 75.0000 1955-09-01 50.0000 1955-10-01 37.5000 1955-11-01 43.8000 1955-12-01 50.0000 1956-01-01 37.5000 1956-02-01 50.0000 1956-03-01 50.0000 1956-04-01 50.0000 1956-05-01 25.0000 1956-06-01 12.5000 1956-07-01 37.5000 1956-08-01 62.5000 1956-09-01 31.2000 1956-10-01 62.5000 1956-11-01 37.5000 1956-12-01 25.0000 1957-01-01 31.2000 1957-02-01 25.0000 1957-03-01 50.0000 1957-04-01 50.0000 1957-05-01 62.5000 1957-06-01 37.5000 1957-07-01 50.0000 1957-08-01 0.000000 1957-09-01 12.5000 1957-10-01 0.000000 1957-11-01 0.000000 1957-12-01 18.8000 1958-01-01 25.0000 1958-02-01 62.5000 1958-03-01 68.8000 1958-04-01 62.5000 1958-05-01 75.0000 1958-06-01 100.000 1958-07-01 100.000 1958-08-01 87.5000 1958-09-01 100.000 1958-10-01 75.0000 1958-11-01 68.8000 1958-12-01 62.5000