Word: year-ago
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...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...
...year's rate (see chart). American Motors was selling three times as many Ramblers as it did in January 1958. Studebaker-Packard was also outselling last year 3 to 1, due almost entirely to its fast-moving little Lark. The company had already outproduced its 1958 total of 49,770 and made a $3,700,000 operating profit in 1958's fourth quarter, its first profit in five years. Chevrolet output, still rising, inched ahead of Ford production for the first time, 522,000 to 511,000. But Ford, with sales 40% ahead of the year-ago rate...
...reason the merger ardor may be cooling slightly is simply that business is getting better. Late in December rail car-loadings hit 431,938 cars, topped the year-ago level for the first time in 16 months, although the corresponding week a year ago was particularly depressed by bad weather. Fortnight ago, loadings climbed to 467,699 cars, lagged only 1% below the same week in 1958. Railmen think the year-to-year gap has now been closed, expect carloadings to keep climbing above those of 1958 as the tempo of U.S. business picks...
...were growing fatter because basic industries continued to pick up: year-ago levels for the first time since August...
...buyers had ordered cautiously last June (TIME, June 30), and the late summer surge cleaned out stocks. Retailers believe the pickup will grow stronger in the fourth quarter. The National Retail Merchants Association polled 225 members with total yearly sales of more than $2.5 billion, found that 52% expect second-half sales to rise an average of 4% over the year-ago level, while 80% expect profits to equal or top last year's level...