Downward Trend In U.S.A. Prices Continues
Received Friday, 7.20 p.m. WASHINGTON, April 14. President Truman's council of economic advisers reports that business conditions in the United States in March continued to deteriorate moderately, and all but "a few economic indicators were heading downward rather than up. The report says industrial production in March fell to its lowest point since August, 1947. The decline was caused mainly hy the drop in the production of non-durable goods. Meanwhile the Federal Reserve Board reported that business horrowings at member btnks in 94 leading cities had declined by 277,000,000 dollars duxing the week ended April 6, which is the largest single decrease in the Board 's history. Business borrowings have declined for the past twelve weeks. The Secretary of the Treasury (Mr. Snyder). who recently returned from a ' visit to several indnstrial centres found, however, "encouraging signs of a business upswing." He said there were now 200,000,00.0 dollars of liquid savings in the people 's pockets, and "the job now is to get them to spend their money."
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHRONL19490416.2.33
Bibliographic details
Chronicle (Levin), 16 April 1949, Page 5
Word Count
174Downward Trend In U.S.A. Prices Continues Chronicle (Levin), 16 April 1949, Page 5
Using This Item
NZME is the copyright owner for the Chronicle (Levin). You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of NZME. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Log in