The picnic is over on retail sales, as the 1942 lines (see graph) clearly show. The drop would be still sharper if the graph reflected unit instead of dollar volume, for dollar volume in April was inflated by prices 17% higher than in April 1941.
The durable-goods boom collapsed of necessity when manufacturing of autos, refrigerators, etc. was stopped and hoarding ate away retail stocks. Then the public began to stock up on nondurable goods, but by February hoarders were glutted enough to ease up a bit on soft goods too.
By the time over-all price control halted buying-to-beat-inflation, the average U.S....
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