Business: Summer Hum

Despite the steel strike (see above), U.S. business hummed on to new heights.

One of the biggest gainers was building. The Commerce Department estimated that new construction in July reached $5.2 billion, up 3% from June and 14% from July a year ago. Total work put in place in the first seven months of 1959 was $30.1 billion, 15% ahead of the same period last year. Outlays for new private building in July rose to $3.6 billion to push the seven-month total 16% ahead of a year ago. Biggest gains were in home building, which leveled in July at a seven-month rate...

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