"c           VAR 0007      12001A ATT IX 3R 899-957               MD= 1E-37   "
"c           REF 0007         LOC   24 WIDTH  9             DK   1 COL 26-34  "
"c                                                 EXP DEC=  1                "
"c                                                                            "
"c              INDEX OF INDUSTRIAL ACTIVITY, AMERICAN TELEGRAPH AND          "
"c              TELEPHONE COMPANY                                             "
"c              ----------------------------------------------------          "
"c                                                                            "
"c              NBER SERIES:  12001A                                          "
"c              AREA COVERED:  U.S.                                           "
"c              UNITS:  1947=100                                              "
"c              ANNUAL COVERAGE:  NONE                                        "
"c              QUARTERLY COVERAGE:  NONE                                     "
"c              MONTHLY COVERAGE:  01/1899-05/1957                            "
"c              SEASONAL ADJUSTMENT:  NONE                                    "
"c              SOURCE:  AMERICAN TELEPHONE AND TELEGRAPH COMPANY,"INDEX OF   "
"c              INDUSTRIAL ACTIVITY," UNPUBLISHED PAMPHLET ISSUED BY THE      "
"c              CHIEF STATISTICIAN'S DIVISION, ATT, JULY, 1955 FOR DATA       "
"c              THROUGH JULY, 1955; THEREAFTER SEE SUMMARY OF BUSINESS        "
"c              CONDITIONS.  THE JANUARY 1957 ISSUE CONTAINS SCATTERED        "
"c              REVISIONS.                                                    "
"c                                                                            "
"c              NOTES:  THE MONTHS OF JANUARY AND JUNE 1946, OCTOBER AND      "
"c              NOVEMBER 1949, JUNE-AUGUST 1952, AND JULY-SEPTEMBER, 1956     "
"c              HAVE BEEN REVISED TO MODIFY THE EFFECTS OF VARIOUS STEEL      "
"c              STRIKES.  AS POINTED OUT BY THE SOURCE, STEEL FABRICATION     "
"c              CONTINUES DURING STRIKES FROM INVENTORIES IN THE HANDS OF     "
"c              FABRICATORS.  SINCE INGOT STEEL PRODUCTION REPRESENTS STEEL   "
"c              ACTIVITY IN THIS INDEX, THE EFFECT OF STRIKES IS OVERSTATED   "
"c              AND THEREFORE THE FEDERAL RESERVE INDEX OF METAL FABRICATING  "
"c              WAS USED FOR THOSE MONTHS IN WHICH STEEL INGOT PRODUCTION     "
"c              DOES NOT ADEQUATELY REPRESENT STEEL INDUSTRY ACTIVITY.        "
"c                                                                            "
"c              CHECKED MANUALLY; NO CORRECTIONS NECESSARY.                   "
"c                                                                            "
"c                                                                            "