STATE OF BUSINESS: Toward the Peak

The U.S. economy, as measured by the gross national product, has climbed almost back to its alltime high. So Commerce Secretary Sinclair Weeks told the Commerce Department's Business Advisory Council last week at Hot Springs, Va. On top of the fact that the gross national product rate in July-September apparently was around $440 billion, v. the recession's low of $425.8 billion in January-March, Weeks predicted that the final-quarter G.N.P. rate will hit $450 billion, v. the prerecession peak of $445.6 billion in the summer of 1957—and go even higher in 1959.

Unemployment, which dropped 600,000 in September, is expected to...