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...gross national product-the value of everything made or grown and all work done-rose to $253 billion, 10% above 1947's Himalayan peak. U.S. builders started 1,250,000 houses, 45% more than in any other year. Automakers, working at high speed, brought out a glittering parade of radically changed postwar models-all square, squat and as alike in appearance as cans in a crate. Out rolled more than 5,200,000 cars and trucks, about 8% more than 1947. The textile industry spun out 13,621 billion yards of cloth, enough to reach 311 times around...
...Turn. With its boom, the U.S. had high prices. Yet the notable event of the year was not that prices had scooted up to the highest peak of the postwar boom-as they had in midsummer-but that by autumn they had started to come down. U.S. businessmen who had been preaching to the world that production-and not rationing and controls-was the cure for inflation had finally shown the preaching to have the ring of economic gospel. The buyers' market swept in with old-fashioned price-cutting competition...
...year's end, prices of electrical appliances (refrigerators, irons, washing machines, etc.) were down 25% from their peak; cotton cloth was down again to OPA levels and below. Some prices were still rising (autos, metals, etc.), but the "cost-of-living" items (food, clothing, furniture, etc.) were coming down. A drop in retail sales had scared department stores into a rash of pre-Christmas price cutting. Even then, stores barely managed to sell as much...
...Chevvies. After a long climb, employment and production in some industries were both dropping "unseasonally" at year's end. Though employment, at 60.1 million, was almost one million above the end of 1947, the Bureau of Labor Statistics' cost-of-living index, which reached a postwar peak of 174.5 in August, had steadily moved down to about...
...will be difficult to forget the expression on Mlle. Noro's face when the blind girl returns home from the hospital with her vision restored. It is the most emotional scene this reviewer can recall having seen in a motion-picture. It reaches its peak when the wife introduces herself to the girl, her unwilling rival, with the quite words: "I'm Amelie...