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Newspaper
Cedar Rapids Gazette
Location
Cedar Rapids, Iowa, United States of America
Date
Jun 13, 1958
Page
9
New York AP reports rising employment and incomes in May with 64 million Americans employed and wages increasing. Retail sales improved from March lows while several industries show gains, fueling belief the economy remains sound despite recession fears.
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The report notes total wages rose while manufacturing slumped, highlighting a recession focus on durable goods and capital equipment. It cites improved steel output and defense stockpile activity, with retail sales and reservations turning higher, yet forecasters doubt a robust upturn before year end or 1959.
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