Word: upturns
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Dates: during 1950-1959
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...there was a new look: the neatnik had replaced the beatnik. Out were dungarees, sloppy slacks, baggy sweaters, etc. Reflecting the back-to-school buying surge, department-store sales across the nation rose 20% over a year ago. Said Teen-Age Research Expert Eugene Gilbert: "There is a general upturn in the appearance of both boys and girls from the lower middle class on up." Gimbel's department store pitched its ads to "the neat generation." Chicago-area stores reported that their best sales to teen-age girls came in conservative, mannish-looking apparel: vests, West Point-styled jackets...
...with its Rocketdyne Division making many of the big rocket engines and with a backlog of $758 million for projects running from nuclear reactors to the X-15 (the plane that is expected to be the first to fly into space), North American's profits are on the upturn. They will rise from $26.8 million last year to $28 million in the fiscal year ending this month...
Part of the upturn was due to the auto industry's retooling for 1960 models. As automakers began phasing out production of their 1959 models, their production for the year's first seven months stood 49% above that period last year, bringing operations to an annual rate of 6,135,000 passenger cars and 1,200,000 trucks. For automakers, July's" estimated production of 551,200 cars made it the third best July in history...
...signal of the upturn came from the long-ailing machine-tool industry. It reported that new orders in December soared 62% over the year-ago level. One of the biggest manufacturers, Cleveland's Warner & Swasey Co., said its new orders are running 150% above the first-half 1958 clip. The construction contractors who build the industrial plants also noted a brisk rise in requests for cost estimates on new jobs...
...strong upturn in steel was in answer to rising consumption, plus a rush to build inventories as a hedge against a steel strike this summer. The three-year contract with the A.F.L.-C.I.O. United Steelworkers runs out July 1, and the steel union has already done some tough talking about the big pay package-estimated at $1 billion a year in wage increases and benefits-it expects to demand. Most steelmen, along with their customers, expect a strike. The automakers, trying to lay in enough steel for their 1959 models and part of their 1960 production, guaranteed their suppliers against...