Word: retailing
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Dates: during 1950-1959
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...nation is spending more money ($250 billion a year) than ever before; e.g., more than 18 million new cars were sold in the past three years. Retail sales are running at the rate of $16.6 billion a year, 23% higher than the 1952 level (see The Luxury Market). But savings are also climbing. Individual savings accounts grew fatter by $5 billion in first-quarter 1956, the fastest rate of gain since the Korean war. The gross national product, sum of all goods and services produced in the U.S., was barreling along at the annual rate of $408 billion in June...
Inching, Pinching. At the moment, the government's credit squeeze has leveled off last year's frightening import rise, narrowed the trade gap to a monthly $45 million, and restored gold reserves. But with retail prices up ten points over last year, it has not stopped inflation. Last week the inching, pinching process of deflation brought violence and strikes to Britain's smoke-stained Midlands...
...produced earnings of $3,000,000 Wrapping up other records in the packaging boom, St. Regis Paper Co. earned $12.3 million v. $8.7 million in the first half of 1955. Continental Can Co. had a half-year record net of $14.5 million, up from $10.3 million last year. High retail sales were reflected in store profits. In its first 24 weeks of the year, Safeway Stores, Inc. netted $9.9 million v. last year's $5.6 million...
...store markets, forcing prices down and sales up all around. Though established stores moaned that they lost money on big appliances, Atlanta's Rich's department store noted that July sales were about 10% higher than June and generally ahead of last year. Estimates were that total retail business in the Southeast was 6% to 7% better than in 1955. Much of the buying was on credit, but few bankers worried; repayments were strong and repossessions...
...steel strike lagged into its third week (see below), the pinch was starting to hurt retailers in some steelmaking areas, though many were trying to bolster sales with generous credit terms (see cut). The Federal Reserve Board reported that department-store sales for the week were down 1% in the Chicago area, down 6% in Pittsburgh. But it will still be some time before sales are badly hurt. One of the most notable things of 1956 so far is the way Detroit merchants keep on selling in the face of heavy auto layoffs totaling 280,000 Michigan workers. While sales...