State of Business: Recovery, with a Hero

"The recession is really over."

This was the verdict passed last week by Treasury Secretary C. Douglas Dillon. Both Dillon and Presidential Economic Adviser Walter W. Heller predicted that the gross national product, which stood just below $500 billion in the first quarter, would hit between $520 and $530 billion by year's end—a prediction very close to that made in the generally gloomy atmosphere of five months ago by FORTUNE.

The nation's businessmen agreed. Assembled in Manhattan for the annual meeting of the National Industrial Conference Board, nearly 1,000 top executives representing a...

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