Word: grossness
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Dates: during 1950-1959
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Time to Digest. In the sense that the drop was the fastest and deepest, the recession was the worst since World War II. The gross national product lost $19.8 billion in six months. It was also the most carefully reported, closely analyzed and best understood of the three postwar recessions. Everyone knew the basic causes: businessmen, expanding at fantastic rates ever since World War II, had to slow down; the economy needed time to sit back and digest all the new capacity. Plant expansion, roaring along at the rate of $37.8 billion in 1957, dropped to $29.6 billion...
...well on its way out of recession. Gross national product was clipping along at $453 billion annually, a new record, and industrial production was back up to 142 on FRB's index, only four points below the alltime peak. Where to in 1959? As usual, the forecasters see clearly for six months: a gradual, continuing recovery without explosive boom. Says Louis J. Paradiso, chief statistician for the Commerce Department: "1959 will be moderate. The graph will go back to saucer form. The momentum of the recovery will show a very good rate of increase in the first half, with...
...Gross national product will probably rise $10 billion in each of the first two quarters, then flatten out to end the year around $480 billion for a 6% increase. Inventories have already reached bottom, will slowly be rebuilt. Businessmen are once again increasing their outlays for plants. Forecast: up $1 billion to $31 billion. Says A.T. & T. President Kappel, who will add $2 billion to the $2.2 billion he laid out last year: "When the recession came along, we had to decide whether to trim capital expenditures as in past recessions. We felt sure that renewed growth was coming...
...Fair Lady. The girl with the ten-million-dollar smile (the estimated gross by year's end), and every penny well earned...
...years the work was profitable but depressingly anonymous. What finally got Backus better known was turning the lampshade boor into a radio character. Name: Hubert Updyke III, a hilarious snob who insisted that his ancestors landed at Cadillac Rock. Hubert bought cars by the gross, drove around with Guy Lombardo's Royal "Canoodians" instead of a radio, had a little man on the hood to work as a windshield wiper...