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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 04, 1958
Page
2
A periodical census shows most equipment is 10 years old or more and likely to rise from a recession as industry awaits tax liberalization. Ashburn predicts a record share of machinery over 11 years amid slow capital spending and potential upgrades if Congress eases taxes to spur new equipment purchases.
Sylvia Porter argues that postwar U.S. industry built new plants but many factories still use obsolete equipment. Despite calls to modernize to cut costs and boost productivity, Washington has taken no strong steps to spur modernization. Metalworking remains 30 percent of U.S. output, yet orders for new equipment run far below 1955 levels.
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