State of Business: Following the Leaders

Not in many months have the cold statistics of the U.S. economy been suffused with such a warm glow:

> Fifteen of 19 leading indicators of business activity rose in February.

>Retail sales are running at record rates so far in 1963, up some 7% from the first quarter of 1962.

>Auto production rose 9% from the first quarter of 1962 to hit 1,931,000 in the first three months.

> Steel production continued its rise of eight straight weeks, is now running at 76% of capacity.

> Machine-tool orders in February showed gains of 24%...

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