PRODUCTION: A Troubling Tidal Wave

As consumers and businessmen continue to step up their buying, growing numbers of key industries are caught in a tidal wave of orders that is clogging production lines and slowing shipments. Such industries as steel, lumber and aluminum are operating at or close to capacity. In addition, more and more manufacturers with available space and equipment are unable to crank up facilities fast enough to meet the torrent of new business. The results are spreading shortages and a sharp upswing in industrial prices. These are classic symptoms of demand-pull inflation, in...

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