Word: upturning
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Last week Sarnoff beamed to the world that RCA had turned the corner in 1962. On record sales of $1.7 billion, the company raised its operating profits after taxes to more than $50 million-an increase of 40%. Most gratifying of all, the upturn was primarily due to a virtuoso performance by color TV and improved prospects for RCA computers...
This late-year surge gained speed after the Cuban crisis. In board rooms around the country, businessmen were impressed that President Kennedy had talked even tougher to Khrushchev than to Roger Blough. Heartened too by signals of economic upturn, managers stepped up their spending for plants and machines in the fourth quarter to a record yearly rate of $38.4 billion. On Wall Street the big mutual funds and pension funds moved back into the stock market (though badly singed small investors continued to spend their money elsewhere), and the market recouped 55% of its $96 billion paper loss. The mood...
...officials also attribute the drop in rice prices to an unusually good crop in the northern part of the country.) A sharp upturn in light industry, especially textiles, and land reform has brightened a still dark economic situation...
Most analysts see no dramatic upturn in stock prices in the immediate future. Wall Street opinion expects the market to wait for autumn and a clearer reading on the health of the U.S. economy before any significant trend develops...
...been creating new jobs as fast as it usually does in a period of economic upturn. In the first twelve months of recovery from the 1958 recession, more than 1,800,000 new non-farm jobs opened up. Last month, at the same stage of the current recovery, there were only 1,260,000 more non-farm jobs than at the recession's trough...