Word: billion
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Dates: during 1950-1959
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From the Council of Economic Advisers came a report confirming what most businessmen suspected: profits are back to prerecession levels, and climbing. At $21.6 billion for the fourth quarter of 1958, after-tax profits showed a $3 billion jump from the third quarter; undistributed profits, or the money companies still have after taxes, dividends, etc., were up to $9.8 billion, the highest level since the first quarter of boom year 1957. The high profit level, plus the assurance of a fine first-quarter report for 1959, gives U.S. industry plenty of money in the bank to keep the recovery rolling...
...signs of expansion are already evident. First-quarter construction volume hit a record $10.9 billion. Manufacturers' sales in February edged up 1½%, while new orders climbed 5%. February inventories reached $50 billion, up $250 million from January, though still $2.7 billion under the corresponding 1958 figures. As for the U.S. consumer, who triggers all the activity, he was once more increasing his debts to buy industry's products. Consumer installment debt in February rose $333 million to $3.8 billion, highest monthly gain but one in three years...
...production in the 1960s is almost as much as the combined current production of Europe's two fastest-growing industrial powers, the Soviet Union and West Germany. In 1960 the effect of increasing defense efforts plus rising capital investment will boost gross national product from $475 billion to an even $500 billion. By 1970, ten years later, U.S. production will have soared to $750 billion for the greatest growth in any decade in U.S. history. To U.S. consumers, the growth will mean $355 billion available in disposable income to spend on goods and services in 1965. Five years after...
...Expand the U.S. investment insurance program (TIME, July 28) to cover as much as $1 billion in new investments (current ceiling: $500 million) and to cover losses from war, revolution or civil strife...
Since January, the United Steelworkers union has spent about $500,000 on ads in 40 major newspapers to make its case for an "extra billion dollars" in the pockets of 1,250,000 steelworkers. This is money, says the union, that will bring real benefits to the economy. Union Boss Dave McDonald is not so much interested in a hefty wage boost as in fringe benefits, whose cost is less evident. He is likely to emphasize pension terms, better hospitalization and medical plans, more generous unemployment benefits. But the big firecracker that is sure to set up a ringing...