The step-up in production was no mere statistical abstraction. Businessmen had plenty of solid evidence last week of the upsurge in the economy in 1950's first quarter. Electric utilities, which provide a prime share of industry's power and thus serve as a general barometer of activity, did more business than ever. Their gross revenues for the first three months hit an estimated $1.1 billion, a new record, and 6% above 1949. The big boom in housing snowed no signs of slackening. In the first three months of the year, new construction totaled $4.4 billion, 18% above the first quarter of...
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