Word: billion
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Dates: during 1950-1959
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...gross national product, has climbed almost back to its alltime high. So Commerce Secretary Sinclair Weeks told the Commerce Department's Business Advisory Council last week at Hot Springs, Va. On top of the fact that the gross national product rate in July-September apparently was around $440 billion, v. the recession's low of $425.8 billion in January-March, Weeks predicted that the final-quarter G.N.P. rate will hit $450 billion, v. the prerecession peak of $445.6 billion in the summer of 1957-and go even higher...
Income Up. Equally good recovery news was the fact that personal income in September rose to a seasonally adjusted rate of $357.5 billion from $356.1 billion in August. This third consecutive record-breaking month made certain that 1958 would surpass 1957. For the first nine months of 1958 personal income has run at the rate of $351.6 billion, v. a rate of only $347.5 billion in 1957. Wage and salary disbursements in September rose $40 million to a rate of $239.1 billion...
ELECTRONICS OUTPUT in 1958 will show first drop in decade, to $6.9 billion from $7 billion last year. Commerce Department cites sharp first-half cut in consumer purchases of TV sets and radios. But strong second-half comeback is expected...
...biggest U.S. rubber company and the world's biggest tiremaker last week had one of the biggest management shifts in its 60-year history. Into the post of chairman of Akron's Goodyear Tire & Rubber Co. (1957 sales: $1.4 billion) stepped Edwin Joel Thomas, 59, president (since 1940), chief executive (since 1956 and longtime protege of Paul Weeks Litchfield, 83, who became honorary chairman of the board after 58 years with Goodyear. Up to president from executive vice president moved Russel De-Young, 49, the third president in a row to be tapped from the production ranks. Litchfield...
...alltime high of July 1955. Transactions in a single day totaled 16,599,000 shares, highest in 17 months. The trigger was Britain's resoundingly successful effort since 1957 to protect the pound by raising interest rates, which has increased gold and dollar reserves by about $1 billion. Though British industrial production is falling and unemployment is rising, the big institutions have confidently moved back into the market...