STATE OF BUSINESS: Two Points Ahead

Despite a dip in auto production, U.S. industrial production is on the upgrade. Last week the Federal Reserve Board reported that September industrial production had climbed two points over August, v. a one-point decline for the comparable period of 1953. Other signs of upturn: ¶ Steel output at Pittsburgh rose to an estimated 74% of capacity last week, up from 70.6% the previous week, and the highest level since April. Chicago mills went to 73.8% from 70.3%, and Youngstown operations rose 12%, to 72%. ¶ Construction awards of all types rose...

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