Word: year-ago
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...Retail sales in March rose in all major categories except autos. Car sales, which 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...
...second quarter as springtime customers appeared. Sales rose 1% in the second quarter, to $5.6 billion, and earnings of $522 million were only 4.4% below last year v. a first-quarter profit drop of 34%. For the half-year, profits were $911,567,400, or 20% below last year. Chrysler's Chairman Lynn Townsend reported improved second-quarter sales of $1.6 billion with earnings off 11%, to $54.4 million, from the year-ago figure but better than the first quarter's performance. Ford Motor Co. (see WORLD BUSINESS) had a second-quarter income...
...important indicators keep pointing up. In 1964's first quarter, corporate profits after taxes spurted 22% above the year-ago level, to an annual rate of $31 billion. New construction contracts in April ran 9% ahead of last year; orders for machine tools in April were 35% higher than in March. Consumer demand is rising, and money was never so plentiful-$418.7 billion in disposable personal income this year v. $257 billion a decade ago. Auto sales in mid-May set an alltime record, running 8% over last year's rate. Steelmakers are revising their estimates upward...
...three hours of zippity-do-dah, he promised-without quite saying how-"twice as much action, twice as much accomplishment" in the next year, reported that loans ($430 million since December) were already flowing at almost twice the year-ago rate, personally signed twelve new loans worth $46 million. After the formalities, Johnson conducted his guests into the Cabinet Room for tea and another demonstration of maximum effort. When an ambassador wondered why Congress was holding up a U.S. appropriation to the World Bank's International Development Association, Johnson grabbed a phone to call White House Legislative Aide Larry...
...earth-moving equipment; Caterpillar Tractor's first-quarter exports are up 17%. Because of increased mining activity, mainly in Canada, South America and Africa, export sales of the Denver Equipment Co., one of the leading U.S. makers of mining equipment, rose 45% in the first quarter above their year-ago level. The recent sale of 29 Boeing 727 medium-range jetliners to foreign airlines has reversed a three-year decline in U.S. aircraft exports, and the efficient U.S. coal industry still undersells European coal right in Europe. Though most of the U.S. exports are sought because they are clearly...