| Show sales indexes highest since the depression during the year just closed there has been fulfillment of hopes mixed with a number of disappointments point ments in the industrial field it la is true that production and sales indexes are at the highest levels since depression set tn in it la is also true that various grave problems notably that of unemployment are still a long way from solution As a result industry looks forward to 1937 with optimism tinged with worry it Is 18 probable that the most favorable outlook of all Is held by the retail trade business last years december buy ing totaled more than as aa compared with in december 1935 and in Me december cember 1933 which marked I 1 the low point consequently ly se seasonal ional employment last D december was encouragingly high T this hi s wa was s r reflected e f le c te d t to 0 bom some e ex extent t e n t f in n t the he p production ro d u c ti 0 n fi field e ld H however 0 w e v e r payrolls are aie still abnormally low A synopsis of current business taken from authoritative sources follows electric utilities during 1938 this industry spent for new capital equipment this year it will spend more than as a result of increasing demand principal expenditures will go for expanding generating facilities which will be more than doubled the Thel political situation Is a highly important factor so far as utilities are concerned and will dictate their budgets and employment to a considerable extent automobiles there seems to be almost no limit to the publics appetite tor for new cars on the debit side of the ledger is the threat of labor troubles which have already hit bit machine tool and accessory makers john L lewis is known to be planning a campaign to unionize general motors as a prelude to unionizing the rest of the industry construction for the past five years a major building boom has been anticipated it has not occurred however during 1938 1936 construction was at least 50 per cent better than in the previous year with home building 70 per cent ahead america still faces a considerable housing shortage and the building industry hopes that 1937 will finally prove to be the year in which americans will go into the market for new homes as well as extensive modernization of old homes steel has just closed the third best year in its history with production the best since 1929 but this industry also to Is troubled with potential labor difficulties railroads traffic Is good profits are small some boyne executrices feel that the icca refusal to continue the emergency surcharges is a serious blow ICO says saye on the other hand that the emergency is over that more freight pickups pick ups will cover the loss in the meantime the lines are continuing their expansion programs in both freight and passenger fields airlines seem to be making a steadily increasing appeal to that part of the traveling public which can afford the higher fares one line reports a per cent jump in bu business employment As mentioned above is still one of the most serious of our internal problems business must make big progress in production before the labor surplus Is absorbed I 1 agriculture had the best beat gross income since 1929 in 1936 crops were smaller as aa a result of drought but prices were higher in practically all lines |
