Word: april
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Dates: during 1950-1959
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...rush to buy sent manufacturers' sales in April smashing through their pre-recession peak, reported the Commerce Department last week. Sales reached $30.2 billion v. $29.1 billion in March, and new orders also set a record by climbing $800 million above March. For this reason-and other signs of heartiness in the economy-Commerce Department reported that the recovery is proceeding "at a better-than-seasonal pace and on a broadening scale." But it pointed out that the upward surge of the boom is still ahead: despite a 2% rise in industrial output above pre-recession highs, the rise...
...April contracts for future construction rose 31% over a year ago to $3.8 billion, setting a new April record. With construction contracts running 22% ahead of last year for 1959's first four months, industry leaders were upping their forecasts, now expect a gain of up to 13% over the 1958 construction total. Machine-tool orders in April rose to $53.4 million over March's $51.5 million...
...auto industry showed no signs of braking. May sales rose to an estimated 520,000 or about 4% above April. Despite a tapering-off from April, Detroit poured out 545,000 new cars in May, building up stocks in case of a steel strike. The industry estimated that cars in dealers' hands rose to 900,000, highest in three years, but carmakers did not seem worried so long as sales were still climbing. They plan no major cutback in production until the end of July. The good performance so far this year-some experts predict...
...transistor radios, 800,000 transistors, and 1,000,000 vacuum tubes annually for International General Electric, to be resold under the I.G.E. name in Europe, Asia and Africa. I.G.E. was the second major U.S. electronics company to decide to make a deal this year with the Japanese. In April Motorola put on sale in the U.S. a $29.95 shirt-pocket-size transistor radio with most of its parts made in Japan. Among the Japanese parts: a tuning device so small that no U.S. electronics concern has yet been able to mass-produce it. Last week Motorola said the tiny portable...
Helping the bull markets is the fact that governments publicly encourage share ownership by the little man. The West German government has begun to sell shares of state-held companies to middle-class investors in a bold step toward denationalization (TiME. April 13). But markets are so thin that a little buying can send a stock to giddy heights. Four-fifths of West German corporate stock, for example, are locked in institutional portfolios. Companies are reluctant to float more because of heavy taxes. Daimler-Benz has 93% of its stock in the hands of institutions and other companies...