Word: retailing
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Dates: during 1960-1969
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More signs of business upturn appeared last week. Housing starts jumped a sharp 10%, marking the third straight monthly rise from the December low. There was a $3.5 billion pickup in personal income to an annual rate of $409.5 billion-the first gain since last October. Retail sales were still up 1% over February, to an $18.1 billion annual rate. Government economists have increased their estimates of the gross national product for the second quarter from a $502 billion-to-$503 billion annual rate to a range of from $505 billion to $510 billion...
...since 1959, when ex-President Juscelino Kubitschek refused to end his wild spending and to accept International Monetary Fund recommendations of deflationary austerity. Quadros is prepared to accept IMF terms. He has already introduced drastic currency reforms that have, in effect, raised prices by ending subsidies on the retail price of such commodities as bread (up 77%) and gasoline (up 80%). He has fired 35,000 government employees, and slashed the salaries of upper-rank government employees 30%. The result has been noisy grumbling that threatens Quadros' determined drive to stabilize the economy...
...head of the retail of the Chamber of Commerce, Corcoran declared that the proposal "would help free parking spaces presently being abused." Supporting him were Harding U. Greene (Citizens Advisory Committee), Warren Dillon (Cambridge Civic Association), Fire Chief Vincent P. Galvin, and Ralph J. Dunphy, Commissioner of Public Works...
...Retail sales, after three months of continuous retreat, rallied in February, advanced 1% above January figures. Last week, for the fourth consecutive week, department store sales were reported to have topped year-ago levels, currently are running 2% ahead of 1960. ¶ Manufacturers of durable goods reported a 1% increase in shipments in February over January, the first improvement since last May. They also reported a 2% increase in new orders over January. ¶ Private-housing starts increased 7% in February, continuing a recovery that began in January...
...major part of January's trimming-$300 million-took place in retail inventories, while the factory inventory reduction of $100 million was smaller than the rate of previous months. While factory inventories have been declining, retail stocks have tended to remain high. This led economists to fear that pile-up of goods at the retail counter because of poor sales might hold off new ordering by retailers. January's figures showed that the factory inventory decline is finally slowing, and that goods are moving off the retailers' shelves...