To most businessmen, the outlook for the first half of this year is for continuing fair weather. But what about the second half? Speaking last week before a group of businessmen in Manhattan, Harvard Economist Sumner Slichter said: "The outlook is for little change during the first three quarters of the year and for a rise in production in the fourth quarter."
Economist Slichter ticked off the signs of strength. Though home construction is down, "business plans for outlays on plants and equipment are rising—are 13% more than in 1955." As for manufacturers, unfilled orders totaled $55.5 billion at the end of...
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