STATE OF BUSINESS: Back to a Seller's Market

The new U.S. boom has passed a significant milestone. The buyers' market of the recession, said the Federal Reserve Bank of Chicago last week, has turned into the sellers' market of prosperity. Rising demand from industry and consumers has increased delivery time on new orders and created scattered shortages for freight cars and trucking rigs. It has also brought a short supply of labor in many skilled trades and slowed the rate of gain in output per worker as the number of jobholders has increased. "Under these circumstances," forecast the bank, "it appears likely that any substantial further increases in...