Word: katona
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Dates: during 1961-1961
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...September heat and storms, less aggressive selling by auto dealers fearful that Detroit strikes might leave them with no cars to deliver, and a 2% drop in August housing starts that meant less demand for heavy appliances. But a more basic explanation comes from University of Michigan Economist George Katona, whose Survey Research Center believes that the consumer has lost much of his confidence in the resiliency of U.S. business. "Not surprising," says Katona, "after two recessions [1958 and 1960-61] occurring in fairly rapid succession." Added to this is a fundamental shift of consumer spending from hard and soft...
...Chronic III. Few economists believe that there is anything chronically wrong with retail sales. Katona says that his latest study finds consumer sentiment finally leaning toward the buy side, especially in autos and appliances, but he does not expect the buying trend to show up noticeably until November and December. Bolstering Katona's optimism were indications from builders of a September pickup in new home sales that will eventually filter down to appliance makers. Another bit of encouragement for the fall retail season: the strike at Ford Motor Co. seemed near an end as the company agreed...