THE ECONOMY: Out on a Limb?

Pink-cheeked Secretary of Commerce Charles Sawyer last week crawled tentatively out on a limb. Said he: "The end of the recession may be at hand." Sad-faced old Dr. Edwin G. Nourse, chairman of the President's Council of Economic Advisers, was not ready to go quite that far. He was "very definitely encouraged," though he did not think that "disinflation" was ended.

This cautious optimism was provoked by the fact that industrial production and employment were again rising swiftly. The Bureau of the Census reported that its Aug. 13 survey showed the sharpest monthly rise in non-farm jobs (1,368,000) in years,...

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