THE FUTURE: The Next Twelve Months

FORTUNE looked ahead (in its July issue) at business for the next twelve months and predicted:

¶ Defense spending will remain stable at $39 billion a year.

¶ The cash budget will show a slight surplus in fiscal 1956; a potential 1957 surplus of $6 billion will be used for tax cuts.

¶ Capital outlays, now rising $4 billion a year, will taper off to an increase of $2 billion a year by mid-1956.

¶ Inventories will grow at a rate of $5 billion a year until next spring, then grow more slowly.

¶ Construction will stabilize as home-building eases and public works expand.

¶...

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