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Government and corporations optimistic over economy in 1965
AP reports rising statistics and forecasts for 1966 as Congress probes the Fed rate hike. Construction spending is projected to rise 6 percent in 1966 to 72.7 billion, with private nonresidential and plant investments surging. Retail sales in November hit a record 24 billion, payrolls rose to 61.8 million in November, and average weekly pay reached 109.30 dollars. Industry leaders foresee further gains, while officials debate whether higher rates will curb or sustain growth.
MENTIONED IN THIS ARTICLE
Sam Dawson
AP Business News
New York
Senate House Economics Committee
Federal Reserve Board
Federal Reserve
William McChesney Martin Jr
Commerce Department
Department
Labor Department