The economic news of the week was as chilling and uncomfortable as most of the nation's weather.
The drop in inventory buying that had helped bring on the recession showed signs of accelerating. The Commerce Department, which reported that total business inventories were reduced another $450 million in December, fears that liquidation in the first quarter of 1961 may be greater than in the fourth quarter of 1960. Its guess: the liquidation rate of $4 billion in the fourth quarter may rise to $5 billion or $6 billion in the current quarter.
Unemployment in January rose less than seasonally, but still...
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