At the University of Michigan's annual Conference on the Economic Outlook last week, 108 topflight experts assembled for one of the year's most important business gatherings and gave their forecasts for 1958. As usual, the opinions spread across the full spectrum. But while in past years the great majority saw nothing except boom on boom, this time the prevailing forecast was for a downturn—though a minor one. Of 68 conference members answering a poll on 1958 business, most agreed that business would slip a bit until well into 1958, with an upturn starting late in the year. Only five...

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