Business In I960: Tough Prosperity

BUSINESS in 1960

FOR the U.S., 1960 was the most prosperous year in history—if judged by the overall statistics. The year marked the birth of the first half-trillion-dollar economy the world has ever known, saw the nation's gross national product rise from $482 billion to $504 billion. New records were set for total employment, personal income, industrial production and consumer spending. With more money to spend, the consumer kept buying right up until Christmas week, when department-store sales rose 30% over record 1959.

But in the mood of the U.S. at the end of 1960, there was little comfort...

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