Word: billioned
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Dates: during 1950-1959
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This week there were signs that the worst in inventory liquidation-which reached a phenomenal annual rate of $9 billion-may be over. The Commerce Department reported that while there was "no clear evidence that inventory liquidation is slowing," sales and production have steadied. The history of previous recessions shows that once sales steady, inventory liquidation comes to an end (see chart). Wholesale and retail sales moved ahead in April, are expected to show a slight drop for May. If they hold steady for a few months, economists hope that the cut in inventories will...
...were all on the upgrade. The FRB index of production, which rose a point in May, will probably be up another point for June, said FORTUNE. "Together, these gains add up to an all-around recovery." FORTUNE'S predictions through 1959: the gross national product will rise $50 billion to $470 billion by the end of 1959, while production will jump 20 points from 128 last quarter to 148 on FRB's index. Both will be new records, "with a wider margin in G.N.P. over past peaks owing to great and steady expansion in services, which have...
...self-critical mood, 30,000 furniture makers and dealers swarmed into Chicago for their annual summer show last week and gave out some sad statistics. Retail furniture sales sagged 4% last year to an estimated $3.7 billion, are down another 10% so far in 1958. This year the average U.S. family will spend less than $62 on furniture, and 83% of all families will buy no major piece of furniture...
...greatest gainer of all would be Soviet Russia, with production estimated as high as $600 million annually and gold stocks at $8 billion. Some experts, such as Manhattan's Franz Pick, expect the Reds to turn their gold into an economic weapon by using it to set up a gold-backed foreign trade ruble. Last week rumors flooded Wall Street that the Russians were up to precisely that. The advantages, said Pick, would be tremendous, since it would give the Russians a "respectable ruble" and make a sensational impression on underdeveloped countries...
Regardless of what the Russians do, the U.S. dollar is already getting its roughest ride in years. And it looked as if it would continue as long as foreign nations fear that a budget deficit estimated at $11 billion or more next year will bring on new inflation in the U.S. and inevitably cheapen the dollar...