INVESTMENT: Lagging Expenditures

In the brisk upward march of the economy from the nation's worst postwar recession, the relatively free-spending consumer has so far led the way. In marked contrast, spending by businessmen for new plant and equipment, which is critical to sustaining the business upturn, has been notably laggard. True, corporate capital spending is at last increasing, and most experts believe that it will reach satisfactory levels late this year. But others are worried that the outlays are coming too late, and that as the economy speeds up, industrial capacity will run into production bottlenecks and shortages that will kick off...

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