Business: Plants & Equipment: Steadier

From the Commerce Department and the Securities and Exchange Commission last week came encouraging—though hardly bullish—news 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 revision—to an annual rate of $35.7 billion—of 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...

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