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This newspaper page contains 3 articles. Subscribers can read the full text of each article.
Newspaper
The Spectator
Location
Joliet, Illinois, United States of America
Date
Jul 28, 1955
Page
4
The piece notes economists forecast a steady U.S. boom led by industry and trade under a business minded administration. It questions how long the expansion will last as the economy expands through November, amid rising output and sales. It highlights the role of Republicans and business leaders in shaping policy during the boom.
Secretary Weeks eyes 1955 auto production surpassing 1950's 6.6 million cars while construction nears 42 billion dollars. Steel output nears a record as GNP hits 375 billion, signaling broad prosperity without heavy defense spending, yet rising installment debt and credit pose risks to the buoyant economy.
The article discusses fears of recession and possible drastic inflation from wage demands and auto industry unrest. Analysts weigh the effect of higher costs, steel strikes, and rising living expenses on 1955 and 1956 prospects while stock markets hold near high levels.
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