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Show 1940 BUSINESS 1 TREND CHARTED . " - NEW YORK, Jan. 9 OTV Maintenance Main-tenance of th "renewal of eonfl- deuce" by buslnsss wa cited by th National City bank In It Jan-vary Jan-vary totter as on of th chief problem aa 1940 begins. Th remaining unemployment," eld th latter, "la not du to any natural limit oa economic activity, la fact, bo such limit exists, either at th 1929 or any other level, , short of th limit set by th svsll-. svsll-. ble labor supply and productive snachlaery. Ther are more producer than In 1929, but also more consumers. ' Business Is heartened to have a demonstration that growth can still go on, and unquestionably the problem for 1940 I to maintain and strengthen this renewal of confidence. con-fidence. "Th war Is th chief uncertainty uncer-tainty In th outlook for th new year, but antes It has a -more direct influence than heretofore th trend during th next few .month will depend chiefly Upon domestic developments. "Moat observer xpct that th fndlee of production will decline. "Moreover, sentiment Is also pre- Bared lor moderate slackening in actual operations, In steel and probably la some of th consumer goods Industries, as th winter goes on, unlees export orders are sizable - r some other stimulus appears. "The capital goods Industrie will continue to operate at their pres-S pres-S nt high level. ; "It I certain that aviation and I shipbuilding will continue at capacity ca-pacity aa long aa th war lasts, ' and th machln tool Industry may Iso belong in this category. . Th railroad equipment manufacturers manu-facturers have orders to support present operation during th first quarter, but will need new business busi-ness If the rat It to hold thereafter. there-after. The earn Is tru of general Industrial equipment, tractor and farm Implements. The electrical equipment manufacturers manu-facturers have heavy backlogs." |