Word: dipping
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...came a batch of earnings reports last week for the fourth quarter of 1957, the first quarter of the dip. The trend in most cases was downward, but like the economy itself, the reports added up to a mixture of good and bad. Even in cases where fourth-quarter earnings fell, the fall was often not great enough to prevent the company from totting up record earnings for the year...
...free economy, said the report, "growth will inevitably proceed at a somewhat uneven pace." The "unfavorable feature" in the economy of 1957 was not the dip but the fact that, even with industrial capacity outpacing demand, the consumer price index kept creeping upward...
...beginning of 1957, businessmen and economists were unanimous about the outlook: the first six months would be great, but then there might be trouble. At the beginning of 1958, the crystal-ball gazers are once more unanimous-but with a difference: the new year will see a sharp dip during the first half, followed by an upturn in the last six months, helped along by big increases in Government spending. Will the first-half softening lead to price cuts in key industries? The answer seems to be no. Few industries, as demand eased, were talking of price cuts. Instead, they...
...year's end, should pick up more next year. Overlaying all, there is the mighty U.S. populace, whose growth is estimated at the rate of about 2,000,000 new consumers each year, and whose appetite, even in the record year with the dip at the end, knew no bounds...
...Pinch in Time. Many businessmen received the dip at year's end without alarm because they regarded it as a "recession as planned." As consumer prices had gone up month after month for the biggest rise (2.5%) in five years, the Federal Reserve Board, under tough-minded Chairman William McChesney Martin, worked with grim determination to keep the economy from growing too big, too fast. Martin stumped the nation preaching "inflation, not deflation, is the real danger." To check all phases of the buying jag-a rise in industrial expansion, piling up of business inventories and increases in consumer...