Word: unsold
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Thus Rees moved swiftly to head off a series of price boosts announced by the highly concentrated aluminum industry. Alcoa, for example, proposed an average 2.3% Increase on 60% of its shipments-although its mills are operating at only 74% of capacity and inventories of unsold metal are large. Aluminum companies argue that they have to recover higher operating costs (Jamaica, a prime source of the raw material bauxite, has raised the price more than 700% in the past year) and that anyway, low prices do not move metal in the face of still weak demand. Though the council...
...annual rate of less than 1 million and are generally not expected to climb much above 1.4 million this year, v. 2.5 million in early 1973. The main reason, as Nathan points out, is that builders still have a full year's supply of finished but unsold houses to dispose of. Automakers last week reported that sales during early May, normally a high point in the spring buying season, fell 21% below the already depressed levels of a year earlier. Thus Joseph Pechman and Nathan see very modest economic growth later this year and a moderate advance...
...giant first-quarter reduction in inventories (TIME, April 28), which is continuing in April, is clearing businessmen's shelves of unsold goods and thus preparing the way for an eventual upturn in new orders to manufacturers. An end to inventory cutting would bring an almost automatic rise in production, since more output is required to keep inventories steady than to slash them...
...have been skidding since the end of the rebate campaigns, dropped 29% below the year-ago level during the first ten days of April. Nonetheless, auto production is rising, and many furloughed workers have been recalled because of the industry's success in working down its inventory of unsold cars. Economists expect that the checks from the $8.1 billion tax rebate, which will begin to reach consumers within a few weeks, will put new strength into retail sales...
...place where corporations can count on raising enormous sums of money -$12 billion in just the first three months of this year-with little fuss. But recently the market has been anything but placid. Prices have been dropping so fast, interest rates rising so rapidly and bonds going unsold in such numbers that some veteran traders say that the market is "in disarray...