Nonresidential construction has been delayed by shortages of materials. Shortages of steel, nonferrous metals, paper, fuels, chemicals, and plastics are holding down production of finished goods. New labor contracts may be more generous than suggested by announced increases in basic wages. Record crops of corn and soybeans are anticipated. Plants producing garments, appliances, and hardware are at capacity.
Many firms report labor shortages, and unemployment is low.
The outlook is for record crops. Shortages of materials, e.g., steel and plastics, are holding down output. Shortages of general laborers as well as skilled workers are reported, and labor turnover has increased. Propane supplies needed to dry crops may not be adequate. Auto sales are very good, especially sales of compacts.