Reflecting the effects of the bituruinous coal strike, the Federal Reserve Board's index of industrial activity shows a sharp decline in April, says the "Financial News."
The Board puts the index at 92 for last month, which compares with 98 for March and 77 for April, 1908, and is the lowest figure since September last, when the index stood at 90. The April index for last year showed a decline of 2 points on the month.
Last month's sharp break is in line with expectations. It will be remembered that when the Federal Reserve Board announced the index for March, it declared that the sharp decline in coal production during April would result in a considerable fall in the index for that month.
Actually it is the biggest fall since November last, when the figure fell from 102, to 83.
The following table gives the index for the past twelve months 1997 1998 1997 1998 May 1$ Sept. up o9 June 14 71 Oct. 2 9 July 1M 83 Nov. 83 103 Aug. 17 83 Dee—84 104
19:8. 1939 Jan.—80 00—Mar.—79—96 Feb.—59 9—Api 77 9
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