STATE OF BUSINESS: Hypochondriacs Take Note

A slight downtrend in business was reported last week. Industrial output in November, said the Federal Reserve Board, was down a notch to 228% of the 1935-39 average.(v. 231% the month before), largely because of a dip in auto output as assembly lines switched to new models. While manufacturers' sales were up slightly in October (to $26.6 billion), their new orders were down $2 billion from a year ago, as customers realized that it was no longer necessary to place orders far in advance. Consumer credit also slowed its rate of rise, from 27 million in October 1952 to $187...

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