Word: quarter
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Dates: during 1950-1959
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...fourth quarter of 1959, the U.S. economy will pass a long-awaited milestone far ahead of schedule. Americans by then will be producing, earning, spending and investing at the rate of $500 billion yearly, raising the U.S. to the level of a half-trillion-dollar economy. For each of the nation's 45 million families, the breakthrough will represent some $11,000 worth of goods and services produced by U.S. factories, farms, mines, government and service industries. The total will be many billions greater than the combined gross national products of the Soviet Union, Great Britain, West Germany...
This was the good news behind last week's report from the President's Council of Economic Advisers that U.S. economic activity in the second quarter climbed to a record yearly rate of $483.5 billion. Even the Government's economists were surprised at the rise of $13.3 billion from the last quarter, $49 billion up from a year ago. They had hoped that the U.S. economy would show enough strength to reach the $500 billion mark by mid-1960. But the economy has snapped back from the recession-and hurtled on-faster than the most glowing optimists...
Even conservative economists now expect that-barring a steel strike more than six weeks long-the economy will roll steadily on to $490 billion in the current quarter. Then only a few weeks will separate it from the half-trillion-dollar threshold. At that rate of growth, the U.S. economy will hit the $750 billion mark before...
...industry-autos and steel-last week reported the second quarter's most dramatic earnings...
...autos, bounding back from the red ink of 1958, Ford Motor Co. led the march far into the black. Chairman Ernest Breech reported that Ford's second-quarter earnings of $2.76 a share (Ford lost money in the same quarter last year) were the highest for any quarter in the company's history, lifted Ford's half-year earnings 1,676% over last year, to a record $5.22 a share. Though Ford's second-quarter sales were only $3.7 million higher than the first quarter, its profits rose $16.3 million, demonstrating what automen have long known...