Business: End to the Recession?

"The upturn in business is now a fact and not just an expectation," said FORTUNE this week in its monthly report on the U.S. economy. It is no longer a question of touching bottom—that happened some weeks ago. The question now is how fast the recovery will spread. "Even the incomplete data for the second quarter add up unequivocally to more than a seasonal gain." Not only did defense outlays and public works shoot ahead, but housing, car sales and production of steel, lumber, apparel, aircraft, petroleum were all on the upgrade. The FRB index of production, which rose a...