PRODUCTION LEVEL
A DROP IN AMERICA \ THE FIGURE FOR JANUARY WASHINGTON, Feb. 18. (Received Feb. 19, at 11 p.m.) The Federal Reserve Board reports that the volume of production
has dropped from 129, the level in December, 1939, to 120 in January. It adds that the slump continues in steel ingot production, which was above 90 per cent, of capacity at the close of the year, but declined to 69 per cent, by mid-February. The Secretary of Commerce (Mr Harry L. Hopkins) reports that the 1939 balance of foreign trade was 24 per cent, below the 1938 level. Exports rose by 5 per cent, and imports by 15 per cent. He adds that there is .a heavy and persistent inflow of foreign capital.
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Bibliographic details
Otago Daily Times, Issue 24227, 20 February 1940, Page 9
Word Count
123PRODUCTION LEVEL Otago Daily Times, Issue 24227, 20 February 1940, Page 9
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