TRADE CONDITIONS

Evening Post, Volume CCXV, Issue 13, 17 January 1938, Page 12

TRADE CONDITIONS

UNITED STATES AND CANADA

The Bank of Nova Scotia, reporting December 13, remarked that during October there was a further recession of business in the United States. In Canada, however, conditions were fairly well maintained. In the United States, the index of industrial production declined by 7 per cent, and reached a level appreciably below that of October last year. Output of the iron and steel industries was sharply curtailed, while marked reductions also occurred in the production of textiles boots and shoes, and tobacco products. With this contraction in output, employment decreased; the index fell by more than 2 per cent, during the month. At the same time, the index of car-loadings also lost ground. In Canada, the indices of employment and production were moderately higher in October than m September. In contrast to the situation in the United States, the iron and steel group of industries was somewhat more active. The index of car-loadings, however showed a pronounced ' decline, reflecting in part reduced loadings of grain and also a less than seasonal movement of coal and-certain forest products. _^^____ — ____■