Word: upturns
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...Atlantic City, the purchasing agents arrived at a verdict of "cautious optimism" about business. Though few saw a sharp rise ahead, even fewer saw any reason for gloom. The majority agreed with Economist Martin R. Gainsbrugh of the National Industrial Conference Board, who saw signs of a modest business upturn in the second half of 1957. Said Gainsbrugh: "Total business activity is considerably stronger than would appear from a quick glance at the figures...
...first quarter, 6.5% more than originally intended. About the only encouraging harbinger came from Ward's Reports, which noted that retail auto sales in the second ten days of March jumped 20% over the first ten days, leading automen to hope that April will bring the big upturn everyone has been waiting...
...first robin, the auto industry has been nervously looking for signs of a spring upsurge in sales. Last week the robin appeared. New-car sales for the last week in February, announced Ward's Reports, "shot to the highest level in seven months, heralding the awaited spring market upturn." Ford announced that retail sales of Mercury, Lincoln, Ford and Continental for the first two months of 1957 totaled 293,008, the greatest in its history for the period...
...Wall Street bond dealers the upturn ended, at least temporarily, one of the worst periods in bond-market history. Though bonds have never been an investment favorite because of their fixed interest rates, the big bull market had made them particularly unattractive. As stocks have upped dividend payments, the bond market has gone down...
...upturn? A "decisive" factor, explained Agriculture's Economist Frederick V. Waugh, was "government programs," e.g., the Administration-sponsored soil bank, which last September began to pay farmers to withdraw 12 million acres from production and put them to soil-conserving measures. The figures bore him out: of the 1956 rise-$400 million over last year's $11.3 billion-some $250 million is from soil-bank payments. Next year, when up to 45 million acres are to be set aside, the payments will be that much higher, and so should be the cut in the surplus. The hope...