Evidence Of Business Slump In U.S.A.
NEW YORK, May 28. Declining saies of four key chemicals used by the country 's largest industries, are "being interpreted . as indicating that no general business : recovery is in sight at least in . the V near future, according to the New York Times. In one case the production of a key chemical, caustic soda, was reduced 20 per cent. Other developments reported at the weekend as indicating continued recession, include : A department store saies in New York during the week fell 14 per cent. and is expected to decline 10 to . 15 per cent. helow the present level by the beginning of July. Saies in the ru'bher industry have fallen so much that the Herald-Tri-bune says the industry has entered a readjustment phase "which could see its end hy closing 30 per cent. of existing plant f acilities."' ' National Purchasing Association agents reported that "the majority opinion of purchasing agents is that general business is still on the down side of the present cycle which started in Novemher and we are probahly half-way through this cycle."
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Chronicle (Levin), 30 May 1949, Page 5
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182Evidence Of Business Slump In U.S.A. Chronicle (Levin), 30 May 1949, Page 5
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