U.S. TRADE ON UP-GRADE

Poverty Bay Herald, Volume LV, Issue 17498, 19 June 1931, Page 4

U.S. TRADE ON UP-GRADE

SLOW IMPROVEMENT CORNER DEFINITELY TURNED NEW YORK, April 15. President Hoover is reported to lie greatly cheered to-day by the statements of eminent American business analysts, who report that trade is slowly on the up-grade. Mr. Robert Babson, the best known American statistician, who predicted the stock market crash in 1929, is Quoted to-day as informing the President that business has definitely turned the corner.

The index of business activity for March was 77.4 against 76.1 for February, and 74.5 for January, when the lowest point of depression was reached. Foreign trade is still much below the normal levels. It rose slightly in March over the preceding month, but the increase was chiefly seasonal, and it was below that of March last year by £26.400.000 in exports, and £18,000,P00 in imports.

Tt is significant of the situation that American export shipments had the smallest value for any March sinre 1914, and the. imports were smallest for any March since 1916. Of the total gain in exports, £2.000,000. was due to increased shipments of cotton. Dr. Klein. Assistant Secretary of Commerce. explains that much of the de olinc in American exports is due to the dron of at least 15 per cent, in commodity prices. Much concern is expressed regarding the decline in American trade with South America. The United States exports to Argentina for the first 11 months of 1930 fell bv nearly 38 per cent., compared with" the same period in 1929. Argentine exports to the United States in the same period fell off 35 per cent.