Word: retailing
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Dates: during 1960-1969
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Last October 12, if one is to believe the vice-president of Boston's Retail Trade Board, hordes of starving Bay Staters crossed over into New Hampshire and Connecticut to buy the goods-nay, necessities-which their own state's laws forbade them to purchase. Storekeepers in Hartford had a field day (sales up 34%), while their Massachusetts counterparts sulked at home and watched the parade which (for the nonce) replaced the extravaganza of Filene's Bargain Basement. Presumably these scenes were repeated last Saturday, when once again the Puritan ethic got the better of the spirit of capitalism...
...economy as a 15% rise in business spending or a 21% increase in federal outlays. Last week it was disappointingly apparent that, in the general pageant of recovery, the consumer is still waiting in the wings, refusing to come onstage to make the show an unqualified hit. September retail sales, announced the Commerce Department, dropped one-quarter of 1% from the August level to $18,166,000,000 (see chart...
...income is up 4% over February's low, he is paying off old bills at such a rate that credit outstanding has dropped 2% from last December's high-and his savings accounts are bursting. Despite all this, says baffled Commerce Department Economist Louis Paradiso, retail sales "still reflect the same kind of sluggishness we have had all along, but now it seems to be hanging on too darned long. It's a puzzler...
...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...
...Retail trade...