Business: Gradual Recovery

Business statistics provided some hindsight last week on just when the economy started to turn around and how fast it is recovering. The recession lost most of its steam during 1958's second quarter. Now, as the National Association of Purchasing Agents said, "business recovery is proceeding slowly, with no great upward surge anticipated in the immediate future." Mileposts:

¶ Gross national product, as finally calculated for the second quarter, rose to an annual rate of $429 billion, a strong $3.2 billion more than the first quarter's $425.8 billion figure.

¶ Inventory liquidation slowed to an annual rate of $8 billion in...

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