State of Business: The Bright View

Most of the nation's economists appeared to think last week that the recession had at last hit bottom. Typifying the more confident mood, William F. Butler, vice president for economic research of the Chase Manhattan Bank, predicted that a vigorous recovery will boost the U.S. economy to a level of "full prosperity" in 1962. "The potential exists," said Butler, "for a good rate of expansion in markets for private durable goods, business plant and equipment, housing, automobiles, appliances and other consumer durable goods."

The economists' expectations for the future are still more hope than fact, since a recession usually...

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