Word: recessional
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Dates: during 1950-1959
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"As 1959 opens, there is reason for confidence," said Dwight Eisenhower this week in his sixth annual Economic Report to the Congress. "The improvement in business activity which began in the second quarter of last year will be extended in the months ahead." Happily ticking off the indicators of a...
The balanced budget, result of a determined, top-to-bottom Administration drive, calls for expenditures of $77 billion. That is $5.2 billion more than the amount that, in 1957, moved then-Secretary of the Treasury George M. Humphrey to warn of "a depression that will curl your hair." And it...
Underlying the President's budget balance is an optimistic prediction that "a rapidly advancing economy" will produce a $9.1 billion increase in the Government's income. Insisting that his revenue forecast is "realistic," the President noted that after the 1953-54 recession, the jump in federal revenues '...
The new G.N.P. indicator is not likely to change the big dates by which the economy's ups and downs are traced. But it adds greatly to economists' understanding of what takes place in and before recessions and recoveries. For example, after the 1953-54 recession, U.S. prices...
In the gloom of the '57-'58 recession, many a U.S. railroad sought merger partners to strengthen its condition. For 14 months the Pennsylvania and the New York Central, the nation's No. 1 and No. 2 roads, talked, thought and studied. Last week the Central flashed...