Milford chronicle. [volume] (Milford, Del.) 1878-1974, 1961-05-05
EconOmy's Upsurge
Quickens; Autos,
Steel Pace Growth

While economists cOntine TO per-
form post mortems on the remains
OF the recent recession. the pace
OF the recovery is quickening a
cross the nation.
A survey made by The Advertis-
ing Council released today indicat-
IS that the steady, upward rise OF
the economy is gaining momentum
Auto makers plan To assemble
100000 ears this month, 10000
more than the April schedule.
Builders started new homes at a
seasonally adjusted rate of 1.2SS.0
in March. the highest since last
August.
Steel. the bellwether of the &C.
Onomy. while il continues to watch
the auto industry for new advan-
ces is now operating al more than
so percent Of capacity. This is up
from low of 43 per cent early
last July.
The nations electric power in
dustry is expected to reach new
highs in output this year. accord
ing TO the Edison Electric Institute.
Output for the total electric utility
industry in the United Staes. eX-
GLIDING Hawaii and Alaska, is ex-
pected TO reach $40 billion kilOwatt
hours by the end of 196l-a seven
per cent increase over 1860.
Sears. Roebuck & Company. Mon
tgomery Ward & Company and AL
dens. Inc. the nations three big
retailers, are eliminating dOwnpay-
ment requirements on store and
catalOg sales in a new effort TO
stimulate sales.
While economists debate whether
the present recovery should be view
ed as a continuation of the boom
of 1858 or the first period of nation
al growth not to be associated with
the post war boom, Ford Motor Co
mpany announced that $500 EN-
ployees have been Tehired since the
end of March.
Newspaper executives attending,
the 18th annual American News
paper Publishers Association con-
vention in New York City shared
the view that good times are a
head-that the recession is over.
Clark Howell. vice chairman of
the board of the Atlanta Journal
Constitution. said. I'VE had a mild
recession. In fact. might say we
had a recession. | think we're pretty
well out of it. There still are a
few spots that haven't been clear
ed up. but there is very good new
business coming in that ought to
last over a period of years.
A fall off in buying during the
recent recession appears TO be
more a reflection of consumer eau
ton than az lowering OF earning
levels. The Commerce Department
has reported that personal income
rose five per cent during 1860 The
Advertising Council reports that in
dividual savings are at an all-time
high of 1915 billion.
Secretary of Labor Arthur Gold
berg's determination TO do some
thing about the unemployment sit
uatiOn prompted city leaders in o.
maha TO invite the Secretary to
visit with. them. Omaha was view
ed as one of the bright spots in
the nations economic picture dur
ing the recession.
The invitation sent out by Omaha
Mayor John Rosenblatt said that
a study of areas relatively unaf-
fected by the recent recession was
equally as important as a study
- Zee n md forH
provide the key for improvements
in the labor situation in these areas
of high unemployment
Business Week magazine reports
that business have much to,
cheer about these days. Reasons
cited were increases in orders and
sales of durable goods for the sec
Ond straight month. upturn in in
dustrial production for the first,
time in eight months, increases in
personal income for the first time
in five months, industrial stock
prices and insured unemployment
down for the sixth straight week.
In New York City the recession
appears to have been completely
forgotten. The builder Of the city's
newest luxury cooperative apart
ment building has announced that
when the building opens this week,
80 per cent of the apartments will
have been sold.
Units cost from $4,000 to S143.-
900. Annual maintenance charges
for the six to ten room suites range
from $1,000 to $4,000.