State of Business: Mild Stimulants


"Negative psychology seems to characterize the general mood," reported New York's Morgan Guaranty Trust Co. in its latest monthly survey of business conditions, "and a peaking-out of business before the year's end is now being discussed as a distinct possibility'' ("peaking out" is a positive-psychology way of saying "recession").

A growing list of unsettling economic indicators contributed to the negative thinking. Retail sales, off 1% in May, dropped another 2% in June—partly because of an unexpected fall in auto sales. Building permits for new housing, which rose last winter to foretell this spring's burst of...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!