| SIC | Industry | Elasticity-EP (t-stat.) | Elasticity-RV A (t-stat.) | R2 |
| 20 | Food and Kindred Products | −0.049 (4.558) | −0.071 (3.368) | 0.244 |
| 21 | Tobacco Products | −0.700 (2.621) | −1.204 (2.883) | 0.191 |
| 22 | Textile Mill Products | −0.476 (7.796) | −0.336 (1.251) | 0.042 |
| 23 | Apparel and Other Textile Products | −0.025 (1.084) | 0.065 (0.580) | 0.010 |
| 24 | Lumber and Wood Products | −0.043 (1.405) | 0.027 (0.401) | 0.004 |
| 25 | Furniture and Fixtures | 0.0186 (13.691) | 0.153 (3.726) | 0.284 |
| 26 | Paper and Allied Products | 0.085 (5.113) | 0.134 (5.795) | 0.489 |
| 27 | Printing and Publishing | 0.388 (35.772) | 0.097 (6.846) | 0.572 |
| 28 | Chemicals and Allied Products | 0.021 (1.103) | 0.037 (1.519) | 0.061 |
| 29 | Petroleum and Allied Products | −0.387 (14.896) | −0.414 (5.164) | 0.439 |
| 30 | Rubber and Misc. Products | 0.495 (30.930) | 0.676 (43.024) | 0.981 |
| 31 | Leather and Leather Products | −0.444 (2.324) | 1.478 (12.132) | 0.807 |
| 32 | Stone, Clay and Glass Products | 0.0179 (0.605) | 0.087 (2.166) | 0.118 |
| 33 | Primary Metal Industries | −0.254 (2.884) | 0.307 (2.017) | 0.104 |
| 34 | Fabricated Metal Products | 0.080 (4.075) | 0.365 (15.894) | 0.881 |
| 35 | Machinery, Except Electrical | 0.055 (2.147) | 0.208 (4.763) | 0.393 |
| 36 | Electric and Electronic Equipment | 0.286 (11.006) | 0.406 (14.860) | 0.863 |
| 37 | Transportation Equipment | 0.028 (0.839) | 068 (1.633) | 0.068 |
| 38 | Instruments and Related Products | 0.334 (19.402) | 0.415 (22.355) | 0.934 |
| 39 | Misc. Manufacturing Industries | −0.204 (3.501) | 0.549 (2.115) | 0.122 |