OUTLOOK/TIME BOARD OF ECONOMISTS: A Quickening Recovery Faces Danger

OUTLOOK / TIME BOARD OF ECONOMISTS

As business moves into its traditionally bustling fall season, signs of a quickening recovery from the nation's most severe postwar recession are multiplying. Employment, store sales, industrial production and corporate profits have all turned up; the leading indicators —those statistics that tend to foreshadow future economic trends—have shown an exceptionally strong rise in the past five months (see chart). Yet the figures are breeding no euphoria; instead, many bankers, businessmen and economists see danger signals ahead. Their big worry is that a combination of resurging inflation, tight...

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