Word: droppings
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Dates: during 1950-1959
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Compass Points. The fix the U.S. is in was primarily caused by the catastrophic drop in auto sales and the extreme cuts by many industries in inventories and production (see chart). Another characteristic of the 1958 recession is that it is spotty and regional...
...industry has been in bad shape for years, is in deepening recession despite a flood of new electronics plants. Unemployment claims are 100% higher than last year at this time; auto sales are down sharply; and retail business, which was ahead for January (up 3%), took a sudden 29% drop during the February snows, has not yet recovered. Yet mortgage foreclosures are still at a minimum, and such a sensitive economic barometer as New England's winter-sport industry shows a 12% increase...
Pickup in Autos? Many steelmen believe that steel's inventory cutbacks may also be nearing an end. Production is down about 40%, twice the drop in consumption. Estimates are that total steel inventories are already down below 20 million tons, off 5,000,000 tons from the peak, and below the 21 million-ton inventory considered normal. While inventories got as low as 14 million tons during the 1954 recession, steelmen reckon that in 1958's bigger economy a bare-minimum inventory is 17 million tons. What could turn steel around-and give the entire economy a healthy...
Prices & Productivity. Last week, as the recession appeared near the bottom of the slide, few thoughtful businessmen were anxious to force the tired bull to his feet too soon. They fear the speedy return of inflation, since prices, which normally drop in a recession, have held up surprisingly. Though many retail prices and some wholesale items dropped, the level of the nation's basic commodities is unchanged. The reason, say businessmen, is the organized labor philosophy that good business or bad, wages-and thus prices-must go up every year. Therefore, steelmen refuse to cut prices, not only because...
SANTA FE RAILWAY henceforth will serve only one of the three cities in its famed title-Atchison, Topeka & Santa Fe. Kansas Supreme Court ruled that railroad, which has not served Santa Fe for years, could drop money-losing passenger service to Atchison, Kans. Line will serve Topeka only as alternate stop...