Monthly Survey of Business Conditions in India May 1940

2. The Survey contains two parts : the first part consists of separate notes dealing with the various economic activities of the country and describing the economic conditions of the month and the second gives the necessary general statistical data dealing with production trade and financial conditions. [...] The progressive figures must not therefore be understood as necessarily representing the sum of the monthly figures shown in the table or the sum of the latest month's figures and of the progressive figures published in the preceding month. [...] The closing of the Mediteranean to cargo ships increased the difficulties of export trade with the United Kingdom and the continent while the depreciation of the Shanghai dollar created a fresh handicap for trade with China. [...] Stocks of sacking cloth and bags at the end of May 1940 were 16.8 crores of yards and registered a decrease of 1.2 crores of yards as compared with the previous month but an increase of 1 crore of yards as compared with the same month of last year. [...] The news of the German invasion of Belgium Holland and Luxemberg was also interpreted by the market as a favourable factor and prices continued to advance until the middle of the month.