From the Commerce Department and the Securities and Exchange Commission last week came encouragingthough hardly bullishnews about business spending on new plant and equipment. In 1960, said the agencies, this spending was cut back only 4%, will run about 10% ahead of 1959. It was the Government's third downward revisionto an annual rate of $35.7 billionof its original estimate of $37 billion. But the drop-off was so small that it was not a major depressant on the economy. While the report estimated that plant and equipment outlays will slide further to $34.9 billion in the first quarter of 1961, this prospect...
Business: Plants & Equipment: Steadier
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