Business: A Sudden Surge in Europe

Though the world recession hit Western Europe later and less severely than the U.S., it also lasted longer. For example, unemployment began declining in the U.S. last June, but kept climbing in Europe well into the winter. Now, however, recovery in Europe, as in the U.S., is proceeding faster than had been expected. After two years of sagging demand, European auto sales are rising so rapidly that one executive of Simca in France says that his company cannot make cars as fast as customers want to buy them. Businessmen have got their inventories down, and their order books are filling up....

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