Word: retailing
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Dates: during 1940-1949
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With his new four-cylinder models, Nuffield promised to give Lord a stiff race for U.S. sales. The Morris Minor convertibles (see cut) and sedans will retail for $1,555 or less in New York (v. Austin's $1,595); the slightly bigger Morris Oxford for $2,100. Smaller than U.S. cars (147½ inches overall v. 196¾ inches for Fords), the Minors get 35 miles to the gallon, have a top speed of 65 m.p.h...
Softening Spots. Further drops in the cost of living promised to ease the wage pressure still more. The average retail drop in the price of meat since last September's peak, said the National Association of Retail Meat Dealers, was estimated between 15 and 20%. Packers were keeping their fingers crossed on whether the drop would continue, but they thought that meat would be in "pretty good supply for the rest of the winter," thanks to the bumper corn crop...
...Even retail trade, which had been queasy six weeks ago, looked healthier again. In 1949's first two full weeks, department-store sales in big cities were generally from i to 30% better than the 1948 period. And since many prices had been slashed to move sluggish stocks, these figures did not reflect a still bigger increase in unit volume...
...prices of electrical appliances (refrigerators, irons, washing machines, etc.) were down 25% from their peak; cotton cloth was down again to OPA levels and below. Some prices were still rising (autos, metals, etc.), but the "cost-of-living" items (food, clothing, furniture, etc.) were coming down. A drop in retail sales had scared department stores into a rash of pre-Christmas price cutting. Even then, stores barely managed to sell as much...
...Kilter. On top of these burdens, Congress cut taxes by $4.8 billion. In the sense that the cut put extra cash in the hands of consumers to spend, that also proved to be a burden on the economy. Retail sales started up again. The businessmen of good will-such as International Harvester's Fowler McCormick-who had cut prices in hopes of starting a healthy downtrend all around, had to change course; they put prices up again. The hope had been that the U.S. would be able to add the burdens of ECA and rearmament without more inflation; that...