THE 1957 RECESSION: Facts & Figures for the Debate

THE 1957 RECESSION. Facts & Figures for the Debate

WHERE does the U.S. economy stand? Statistics last week were as varied as economists' ideas about what constitutes a recession, each open to endless debate. Some figures that showed a continuing rise were clouded by deprecatory "buts." Others indicating a downturn were brightened by curiously cheery notes.

For 1957's third quarter, the gross national product increased to an annual rate of $439 billion, $5 billion more than the second quarter. But economists charge all the gain off to price rises; the real value of goods...

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