STATE OF BUSINESS: Upturn with Problems

"Improvement has come somewhat sooner and more vigorously than many observers had perhaps anticipated." So reported the monthly review of the Federal Reserve Bank of New York last week. The 1958 recession, said the review, probably reached its low point in April, and it was the shortest and the most severe of the postwar recessions. Though it warned that a mild setback might follow the initial upturn, as in 1949 and 1954, the bank saw hopeful signs in the fact that the recovery so far has been broader than in either of the previous postwar recessions.

Housing starts increased in June...

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