In four important areas, new statistics gave further evidence last week that the U.S. economy is turning upward:
¶ Retail sales, becalmed since last September, rose briskly during June at a dozen major chains. Sears, Roebuck and J. C. Penney both announced an 8% sales gain for the month, while Interstate Department Stores, with 107 outlets in 83 cities, experienced a 14% rise in volume. The increases spread across many fields. Sales of the Grand Union grocery chain rose 9%, those of the Walgreen drug chain 15%, those of the S. S. Kresge variety chain 31.5%.
¶ Appliance sales, after months...
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