Word: upturns
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...sales climbed; across the nation, they rose 26% over a year ago, when 1960's heavy blizzards helped to cut sales. Freight car loadings, an indicator of general economic activity, rose 7% above the preceding week, and the Association of American Railroads saw the beginning of a gradual upturn. A new survey of businessmen's plans for plant and equipment spending showed that in the year's second half they intend to reverse the gradual decline in spending. For the year as a whole, they will cut their expenditures only a moderate 3%. If business picks...
Pragmatist Heller takes a rather cheerful tone about the economic road ahead. He considers the current recession "mild," thinks that the antirecession program that the President has submitted to Congress will be enough to get an upturn going, despite the complaints of labor leaders that the program is too skimpy. And, if necessary, the Administration will simply mix another batch of remedies, in keeping with the President's promise to "submit further proposals to the Congress within the next 75 days" if the recession deepens. Looking beyond the current recession to the goal of faster growth, Heller is "basically...
Walter Heller: The basic curve of the economy now is a saucer - and very shallow. There is an upturn coming within the next three to six months...
Roland N. McKean, Rand Corp.: The recession looks as if it will grow somewhat more severe. Most of the things proposed by the Administration are not likely to have much immediate effect on an upturn. I would look for the country's unemployment to get somewhat worse in the next three to six months...
Judging by past performance, the market may be forecasting a business upturn. Stocks have traditionally turned down several months prior to a recession, as judged by the Federal Reserve Board's index of industrial production, turned up several months before its end, as signaled by the index reaching the prerecession level (see chart). Downturns in stock prices have run ahead of slides in business 16 times out of 19 since 1870, and stock prices have risen before general business conditions on all but two upturns since then. Only once, in 1957, did the two peaks coincide. "Basically, the stock...