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Press, Volume LXXII, Issue 21977, 29 December 1936, Page 9

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for 11937 RISING PURCHASING w POWER '-• CONDITIONS IN GREAT I BRITAIN S H«D PEE 33 ASSOCIATION—COrYRIOIJT.) LONDON, December 27. -h- "Economist's" survey says that state of trade and the seasonal nsion of business activity have inued, though they are less noticethana month ago. Progress has retarded by the inability of many -tries to meet the demand, e metal industries are working to city, and some trades are unable itisfy even home requirements. e purchasing power of the populais steadily rising with increased oyment, higher wages a-nd dividThe demand for food, clothing, iomobiles. and other goods is consemtlv increasing. The happiest fea■e of the closing months of the year • been the increase in trade between marv producing and industrial couna The outlook for 1937, both in tain and elsewhere, is promising in >absence of unfavourable political pelopments. 1 More Christmas Buying: Ikaturally there has been more buym of Christmas presents than stocks M shares. Nevertheless, the markets le firm, with the exception of Eurolan bonds, especially German, which K affected by the news of the despertl economic nlight of the country. fh investors, looking backwards, have Riser for regret. Industrial shares ive appreciated during the year by fimnd 11 per cent, on speculative isns and 25 per cent, on many indi■ualissues, which have been doubled, m even trebled, in value. Ipe "Investors' Chronicle" considers it the situation dogs not show healthy signs. Although England is iering the fourth year of her recovr, tie cost of living has risen, but ieare.no signs of wages chasing ces and prices chasing wages. sasa metals last week were active. tier shows a sharp decline, with le enquiry. The situation has bene Worse by heavy shipments from w Zealand arriving in the north of gland at a time when the Danish rket there is weak. REND OF BUSINESS PROYEMENT IN NOVEMBER tatistics illustrative of the trend of iness conditions in November point a continuation of the upturn comited on in reviewing the situation recent months, reports the GovernDt Statistician. The bank-note circuon: eclipsed the previous monthly ard averages reached successively in gusjL September, and October, the feihber ' figure (£8,123,023) being siderably higher than any monthly rage previously recorded. The urne of cheque transactions was abmally high for this time of the ir. ;In this instance, a marked seaal peak is reached in February or rch, so that'the November average ue; of bank debits <£ 15,574,172), ile higher than- that recorded in any reraber month since 1929, is, as exted, below the average in February May of the current year. Bank deits _on .current account show a leriat increase as compared with the rage in; October, a usual seasonal urrence. IbeiLabour Department's return of number of males unemployed on member 21 indicates a further imvement in the employment situai, the total number of men covered ths .returns being 42,341, as corned , with .46,140 in October, and 46 in November of last year. * substantial increase in wool prices he [first sales of the season presages f ery satisfactory return in respect 'h* Reason's wool clip, while the ■e situation in respect of other ior farm crops has changed but little :e October, recent improvements bemaintained. eneraUy speaking, the present situn in respect of prices, employment, productive activity generally, may regarded as affording a basis of opism in respect of the current protion season now approaching its l 'h. Early indications pointed to an optionally busy Christmas season, i m respect of retail selling and way transport. ECONOMIC OUTLOOK KE CONTROLLING FACTORS peaking to an audience of bankers, 'untants and university students at Central Library, Sheffield, on Qtrojling Factors in the Economic look," Sir Josiah Stamp said the a forces and limitations which e likely to regulate', economic af- ' might conveniently be classified monetary, political, technological natural. At long last the French made a break with their gold parand if they had done it several * ago it might have saved the w some trouble in the process of very. For some time there had } a great disparity between the I rate of recovery of "devalued" 'tries and the lag or even worsen--14 standard countries respec:ance was already beginning ; stimulus of industrial free■elease from a continually i pressure of gold prices, and al recovery of world trade leflt by the common direction I now enjoy. But the great■t from France's, action was uch the material change in sibility as the psychological i change of French mentality ?old a:; a standard on oldlines. No headway could be working out the lines of a nf'.nal standard so long as '•j-. with a mistaken sense w Jlinging to the old ideas. - as a hoard of value, but v juld be more willing to r>'l to co-operate. -a concluded by examining ol'/gical and natural factors, position of the Lancashire dustry. the Chilean nitrate and other disturbances of old ; brought about by such fac- > question of raw material relation to manufactured s still important, for the solparticular countries and the shment of confidence. But on ical lines, the world was set iing. great possibilities and ng the standard of life on new •ovided a reasonable equili--1 confidence in trade could be the political deadlock released nonetary problem solved, not it by wise trial stages.