U.S. ECONOMY IN 1956
“Slowing Down” Expected
(Rec* 10 p.m.) WASHINGTON, 22. President Eisenhower’s economic report to Congress on Tuesday is expected to forecast a slowing on business growth but, nevertheless, a record 400,000,000,000 dollars (about £145,000,000,000) production rate this year. Some signs of slack are visible now —the slow-down in car production and new housing construction, the continued fall of farm income, a levelling off in retail sales, and the fact that business stocks on hand are coming close enough to normal levels to suggest that industry spay cut down its inventory buying soon. A Government official emphasised today that Administration economists expect no serious slump. Most of them, it was reported, expect production to pass the 400,000,000,000 dollar mark in 1956 for the first time in history, and to average out above that level for the year as a whole in spite of possible fluctuations as the year progresses.
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Press, Volume XCIII, Issue 27874, 24 January 1956, Page 13
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151U.S. ECONOMY IN 1956 Press, Volume XCIII, Issue 27874, 24 January 1956, Page 13
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