RECESSION IN AMERICA

Press, Volume XCVII, Issue 28619, 23 June 1958, Page 14

RECESSION IN AMERICA

Recovery Begun (New Zealand Press Association) AUCKLAND, June 22. American people believe the recession there “has hit bottom and that they are gradually coming out of it.’’ Mr E. H. Rhodes, an Auckland company director, said on his return from a business visit to America. Some of the heavier industries, including steel, were getting more orders, although the automobile industry was still in difficulties. While in America he had observed a ready appreciation of New Zealand’s difficulties in marketing produce at an economic price. The American market offered distinct possibilities for New Zealand produce. “They want what we want to sell,’’ Mr Rhodes said. “We can deliver our produce cheaper than American-grown produce. But it is too early to say just how much New Zealand produce will be allowed in. Should America lift existing controls we should be able to compete readily in their markets.’’

Bridge Over Nile.— Hungariaft engineers have placed into position the last section of the 2690 ft long rail and road bridge being built over the Nile at Helwan, Egypt, reports the Hungarian News Service. The bridge is due to be finished by July 23, the national day of the Egyptian Republic. The 40ft wide bridge carries a railway track, i a road and two pavements, and has been designed so that additional railway lines and a 10ft wide road can be built outside the main supports on either side. —Cairo.