The Economy: Picking Up More Speed

Since spring, the signs have been evident that the U.S. economy was rounding a recessional curve and would pick up speed during the second half of 1967 (TIME, May 12). Inevitably, some skeptics continued to skep, arguing that a major downturn might still be in store. By last week, with the publication of a midsummer set of indicators, the statistical proof of a strong second half became so clear as to erase almost all doubt. Items:

∙ PERSONAL INCOME. The Commerce Department reported that personal income in July rose by $4.5 billion over June to a record seasonally adjusted annual...

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