STATE OF BUSINESS: Facts & Figures, Jul. 12, 1948

Over the Moon. The Department of Agriculture predicted that meat prices, which hit a new high last month (295% of the 1909-14 average), would go even higher this summer and fall. Reasons: 1) a seasonal decline in the already low rate of production, 2) an "unusually strong" demand due to high consumer income.

A New High. Consumer credit, the Federal Reserve Board reported, rose 1.5% in May to a new high of $13.8 billion. This was chiefly due to a rise of $220 million in installment credit ($89 million of it on autos alone) to a record $6,957 million.

In the Poky....

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!