U.S. BUSINESS TRENDS

Press, Volume LXXXIX, Issue 27193, 10 November 1953, Page 11

U.S. BUSINESS TRENDS

RECESSION HELD UNLIKELY

LONDON, November 8. The financial editor of the “Daily Mail,” after discussing the latest reports from America, says that current opinion there seems to bear out the suggestion that there is no immediate likelihood of a business recession in the United States. “A high level of business activity in America is obviously of great importance to and the other countries of the world,” he says. “OX evefi more moment is the possibility of a set-back in the United States which would react badly on Britain’s trade, and it is the fear of this happening that has for many months caused people in this country to keep a keen eye on the course of events on the other side of the Atlantic.

“But time after time the dreaded turn-down in business has been avoided, and the National City Bank of New York, in its November review, still finds itself able to state that the ‘testing’ time of the fall of the year has so far produced littU sign of a set-back. ?In October,-not only did business In general hold up better than expected, but commodity and financial markets, as wejl as such basic indicators as the building contract awards, and steel and paper board ordecs registered renewed strength during the month.”