Word: billioned
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Dates: during 1950-1959
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...rocket by electrical repulsion. The thrust of this system would be extremely low, but it would use little material. Ten Ibs. of thrust working for 1.5 years would speed a 50-ton spaceship to 135,000 m.p.h. At the end of this time it would have covered one billion miles, or beyond the orbit of Saturn...
...experts think that inventory liquidation, still proceeding at a fantastic $7 billion annual clip, will level off rapidly, perhaps even reverse into a modest inventory accumulation. The uncertainties of international affairs will cause many a manufacturer, wholesaler and retailer to think twice before eating more deeply into his stocks. The wise businessmen will tend to keep inventories level, or increase them a bit as a hedge against possible emergency. Said a Cleveland machine tool manufacturer: "Our story to customers is that now is the time to buy before we get jammed." In the same way, businessmen look for industrial expansion...
...Commerce Department reported that the value of the rate of output of goods and services in the first three months of this year (seasonally adjusted) was $425.8 billion, $4 billion higher than earlier calculations. This was down sharply from a peak of $445.6 billion in the third quarter of 1957; all told, the recession has chopped $20 billion from the gross national product, about 4.5% v. 2.7% during the 1953-54 recession. It is not likely to cut any more. Though second quarter figures are still incomplete, top Washington economists expect them to show a $1 billion rise to around...
...consumer durables. Even more meaningful was the news on personal income. Though total personal income has held remarkably stable throughout the recession, serving as a needed ballast for the whole economy, April's rate for wage and salary disbursements had still dipped to a worrisome low of $232 billion, down $6.1 billion from 1957. In June the figure climbed back up. The total: up $3.3 billion to $235.3 billion. If Social Security and veterans' payments, which hit new records this spring, are counted in, total personal income for June, at $351.8 billion, was appreciably ahead...
...cliche working precisely in reverse. Leading and feeding the recovery from recession was the sharpest rise in farm income since 1947, the greatest ever without a war. At the end of the second quarter of 1958, farm income had jumped to a seasonally adjusted rate of $13.8 billion annually, a solid $1 billion more than the rate for the previous three months-and a fantastic $3.1 billion more than the $10.7 billion rate of second quarter...