Word: boom
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Dates: during 1950-1959
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...mostly in public utilities and sugar, to $750 million by last year). Projects completed or under way include the island's first steel plant ($16 million), two tire factories, new oil-refining facilities ($70 million), expansion of the U.S. Government-owned nickel plant at Nicaro ($37 million). The boom shows no sign of slackening. Planned for the future: a $147 million expansion program by a subsidiary of American & Foreign Power Co.. a $75 million nickel-mining operation by a Freeport Sulphur Co. subsidiary. Even tourism, one of Cuba's three top industries, has held up through...
Soft Spots. The boom has had its price. The national debt, only $202 million when Batista took over, now tops $700 million. International monetary reserves dropped from $593 million in 1952 to $333 million by last May. But the budget has been balanced for the past two years, and the reserves are still almost double the necessary minimum. National income this year is estimated at a record $2.2 billion...
...average, is three children. So reports the University of Michigan, after a survey of 2,700 women living with their husbands and aged 18 to 39 (this age group includes 94% of the nation's child-bearing women). At this rate, noted Survey Sociologist Ronald Freedman, the baby boom will continue: it would take only 2.2 children per couple to maintain the population at its present level...
...FARM EXPORTS jumped 35% to record $4.7 billion in fiscal 1957. Government-subsidized cotton exports hit 7,700,000 bales v. 2,200,000 bales in 1956; wheat shipments rose to 535 million bu. from 340 million bu. Agriculture Department expects foreign sales boom to level off in current fiscal year because of bumper cotton, wheat crops abroad, new import controls in some dollar-short countries...
...height of the air-travel boom the U.S. airline industry is moaning low. Though revenues for the first five months of 1957 hit a record $618 million, the airlines reckon their total net operating income at barely $14 million-down by a staggering 63.5% from last year. Five of the twelve major trunk lines-Capital, Northeast, Northwest, United and Trans World Airlines-reported that they were operating in the red, and airline shares have lost 30% to 40% of their market value since 1955. This week, after a long, bitter campaign, the airmen will present their final arguments...