STATE OF BUSINESS: Springtime in Production?

Spring talk in the business world is talk of better business. Last week spring talk was of firming stock and commodity prices, of imminent upturn. But spring statistics had yet to measure up to the spring feelings of business. Although February production was figured at 109 on the Federal Reserve Board index (down 19 points from December's all-time high), most visible signs still indicated that consumption and exports were not big enough to keep inventories from growing:

>National Industrial Conference Board announced that in January its 300-odd reporting manufacturers had suffered a 3% inventory rise (over December) in spite...

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