STATE OF BUSINESS: Wait for Fall

The mood of U.S. business last week was: "Wait for fall." Most businessmen felt that the slide was ended, but few looked for any immediate big pickup in the face of the usual summer shutdowns.

The statistics looked brighter than at any time since the start of the recession, but the National Association of Purchasing Agents said: "None of the reporting members expresses any optimism over the immediate term. The majority look for no major breakthrough in the current lull before the year end or early 1959."

New car sales in the second ten days of June posted a 6.8% increase...

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