Word: boom
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Dates: during 1960-1969
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Despite assurances from the economists that a new boom is coming, many a U.S. businessman last week could not conquer an uneasy hunch that for a while yet U.S. prosperity would be a kind of austere affluence. In a panel discussion of the business outlook sponsored by the First National Bank of Chicago, President Ralph Lazarus of Federated Department Stores predicted that steadily rising personal income would continue to improve retail sales, but added: "We foresee substantial growth, but not a sharp, runaway boom." President Robert S. Ingersoll of Borg-Warner Corp. looked for only a "gradual and minimal" upturn...
Blue Chips. Investors are switching into the stocks of well-seasoned companies that tend to grow in step with the economy. Many of these business-cycle stocks went unnoticed during the "glamour" boom and some are still underpriced. In fact, 25% of the stocks on the New York Stock Exchange are selling below their April 1956 levels, though the Dow-Jones has advanced 170 points since then...
...research director for Reynolds & Co. in San Francisco: "Copper issues have been very big, and machinery, steels and chemicals are all doing well." Nor are all the professionals ready even to write off the 1960-61 glamour issues-especially if the economists should prove right about a coming nationwide boom...
...Sixties" would finally begin to soar got a bullish answer last week from Secretary of the Treasury Douglas Dillon. Said Dillon: ''It is probable that by this time next year, our economy will be in high gear. We may well be in the midst of an economic boom...
...boom Dillon meant a gross national product that would skip from the current rate of $512 billion to $530 billion by this year's final quarter and to $570 billion at the end of 1962-perhaps even generating enough profits and tax revenues for a tax cut next year. In its semi-annual forecast out this week, FORTUNE reached much the same conclusions. It predicted that by Christmas of 1962 the U.S. will see a $575 billion G.N.P. and a near-record 25% jump from the recession low in the Federal Reserve Board's Industrial Production Index. Suggesting...