STATE OF BUSINESS: Holding Power

If the U.S. economy last week showed few signs of steady advance, it also demonstrated the sturdy holding power that has resisted any sharp slide. The Federal Reserve Board's index of industrial production, which many economists feared might dip noticeably in October, stayed just about steady at 107, the same as September, but 3% below the average for 1960's first half.

Personal income in October rose to a new record, further building up a force that eventually may give the economy the energy it needs to leap ahead. Department-store sales for the last week climbed to their highest level...

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