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Americans adjust spending habits amid mixed signals in 1958
New York May 7 AP business survey says Americans spend heavily with consumer outlay around 28 billion dollars annual rate in early 1958, while 1957 SEC data show high saving and net equity. Yet debt payoff rises faster than new borrowing, hurting big-ticket industries like autos and appliances even as travel, utilities, cameras, phonograph records, and groceries show strength. Families grow and college costs rise, influencing car purchases and future spending.
MENTIONED IN THIS ARTICLE
Sam Dawson
New York
Securities and Exchange Commission
SEC
Europe
Americas