BUSINESS IN U.S.A.

Auckland Star, Volume LXVI, Issue 299, 18 December 1935, Page 11

BUSINESS IN U.S.A.

BUSIEST FAX-L SINCE 1930. Despite sharp conflict of opinion on Government policy in the United States, it seems clear that, a definite upward movement has taken place in the commerce of that country. In its monthly review, dated November, the National City Bank of New York says:— The fall season is now far enough along to permit a preliminary summing up of its showing in trade and production, and it is evident that the optimistic expectations entertained at the beginning of the season were very well founded. The volume of goods being produced and distributed is in many lines the largest in four or five years. Retail sales have been held back in some areas by unseasonably warm weather, but on the whole have been good. Department store sales in September were 8 per cent over last year, according to the Federal Reserve Board's index, which stood for the month at 82 (1923-25 —100), the highest figure since November, 1931. In the first half of October the increase was 12 per cent, according to a survey by the National Retail Dry Goods Association. These gains are better than those shown by the chain variety of stores, which made the big increases last year, and there are many indications that the public is able to buy not only more, but also higher priced goods. The railways are moving more freight than at any time in four years, and their aggregate earnings statements will be in the black this fall, though doubtless they will show a deficit for the full year. Among the industries which are shaving the busiest fall since 1930, at least, are a number of those making durable goods, including automobiles, household, farm and office equipment, and light machinery and tools. Electric power consumption is setting all-time high records. Bank debits, reflecting the dollar value of business transactions, have been running higher than in any year since 1931. 1

Moreover, the earnings of the manufacturing industries are the best since 1930.