Evening star., 1947-04-11
u. 5. Business boonls
Generally But Some
LeveIing Off Is Noted
(Last OF a Series.l
BY Inc Asseeiaisd Press

Business IN the United States Is
still showing an overall rising trend
but there is evidence in some Sec
tions of the country Of leveling oil. |
The average citizen is spending /
more cautiously, and rttail sales are
beginning to drop in some cities.
This is one of the first things
economists watch for as swarning of
q readjustment and possible recess
sion. ;S .
In general, Anierican industrial
production Is running ahead OF
last year and employment Is hlgh.
Preceding articles in this series m
dicated the postwar boom is expected
to continue for at least another
three months, after which most
economists expect some sort OF
recession, or "readjustment."
Demand Stil Is High.
kansas City, st. Louis, Dallas and
San Francisco are among the CEN
ters where the fall in department
store unit sales Is most noticeable,
according to a survey made by
Associated Press bureaus through
out the country. A production de-
cline is reported from Philadelphia
In generaIs however, business Is
booming. The public SIN needs au-
tomobiles, refrigerAtors, electrical
appliances and other durable goods.
There was $28 8,247y yO00, 900 in circula-
ton last week, up ST., ,000, 900 from
the preceding week and 1885,. .0oo, 900
above year ago. 1t was only
slightly below the all-tirne high of
$29, 1863, 900 600 for the last Christmas
period ending December 26.
This is the current situation
across the country in key centers:
observation-disclosures Depart
ment of Labor reports States en-
ployment and pay rolls rising |
slightly. Sales in Al New England
department stores up Is per cent In
March In dollar volume over last
year.
Factory Earnings Set Mark.
NEW YORK.-Savings deposits
hit all-time high in New York City
In February at 1890, ,000, 600, COM
pared with $6,698 ,000,e00 In Febru-
ary, 1916. Factory workers earnings
at new high of $5856 weekly in Feb
ruary, up per cent over January
and well over the 1946 figures of |
$51.86 for January and $49.35 for
February.
Foreign trade, employing about
10 per cent Of New Workers and inn
portant to the whole country, rose
sharply In first quarter, and John
X. Whitaker, vice president of the
Commerce and Industry Association
of New York and president of q
large exporting firm, says "all indi-
cations are that 1947 will be record
year in the export trade"
NEUTRALITY-SUSPICIOUS. of
both durable and consumer goods
declining since December. Slight
expansion in building material and
chemicals. Construction far below
mid 1946. but has started slight up
swing. Retail sales leveling off.
Employment steady in Pennsylvania
factories. Shipbuilding down slight
ly. steel and non-ferrous metal in
dustries up slightly. Some labor
shortages in professional and manu.
featuring trades.
Richmond Reports Boom.
RICHMOND-Depa store.
retail furniture sales up over year
ago. Building permits jumped from
$l1 ,885, 600 In January to STILL ,528
In February; two months total, So
871 1877 over 1916. Fifth Federal Re-
serve District Bank says business in
district still showing rising trend"
particularly in wholesale trade, ex-
cept dry goods, drugs and groceries.
NEUTRALITY-SUSPICIOUS. and in
come from farm marketings running
above last year in seven Southeast
ern States. Twenty members of
Federal Reserve Bank reported loans
to commercial, industrial and agri-
cultural firms of 1886, ,OOO, 900 in Jam
uary, 38 per cent above last year.
CLEVELAND.-First Federal Re-
serve Districts 80 department stores
report dollar sales up II per cent
over last year in first quarter. Pro-
duction in Cleveland area for this
period, on man-hour basis, best since
reconversion month of September,
1945. Chamber of Commerce reports
first quarter production within
per cent of vi day level. At the
same time unemployment up 2 per
cent In Ohio. Michigan, Kentucky
area since January.
Chicago Holding Level.
CHICAGO. - Generally, current
business conditions in Chicago area
holding level with January l. Slight
production drop as inventories
catch up. Retail sales steady in
volume, but demand off for luxury
and semi-luxury goods. Freight
traffic somewhat heavier. Employ
ment improved. Illinois labor market
tight.
MINNEAPOLIS. Business and
industrial conditions leveling off, but
holding up in dollar volume. En-
ployment still high, continued tight