Recovery Sn U.S. Business
LONDON. 1< ri.— Reviewing business in the United States, the New York correspondent of the Financial Times says that if America is going into a depression it is doing it in a most curious way.
Favoulauie developments have oc currea recently in such widely-varied neids as steer production, cotton textiles manufacture and atr passengei transport, and they have been reflected in the steady strength of the stock market during the past few weeks.
The stock market has recovered at. the losses incurred since February and is now about as high as it was last November, whon the Federal Reserve Rank's index of indus'rial production was at a record level. STEEL PRODUCTION UP In spite of fears of a strike, steel production is now higher than it was a month ago and has been considerably stimulated by the presisient and strong demand for motor cars. Recovery in textile production began with woollens and rayons and has now extended to cottons. Consumption, particularly foi women's print goods, is continuing al a higher level than was expected. There are also indications that a recovery is taking place in sales of fuel oil.
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Northern Advocate, 6 August 1949, Page 5
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193Recovery Sn U.S. Business Northern Advocate, 6 August 1949, Page 5
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