Production Up: TIME'S production index hit 149.0 (estimated) in the May 31 week, another all-time high. Final figure for the preceding week was 148.3. Based on the weekly index, FRB's May index will be about 146.
Steel mills were the first major industry to obey President Roosevelt's "unlimited emergency" decree; most of them worked right through Memorial Day, thus held production close to capacity. Best news, however, came from utility offices. Despite a scarcity scare in the Southeast, power output last week was 3,011,754,000 kilowatt-hours, 16.3% above a year ago. Like business as a whole, the gains were not uniform. Output of...
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