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Show Bissiness Trends The business upswing continued contin-ued forword during May. Industrial production in the aggregate is close to the 1948 peak; in some major lines it is at an all-time high, and manufacturers man-ufacturers of durable goods particularly, par-ticularly, who are hard put to fill orders, in many cases are still expanding operations. The country has never before produced pro-duced as many houses and automobiles, auto-mobiles, or as much steel, as it is now turning out; but so far there is no evidence that demand de-mand is being satiated. On the contrary, automobile deliveries are delayed, dealers' stocks are negligible, and used car prices have risen. Markets for new houses and household equipment are strong. Not ony in steel, but in non-ferrous metals also, buyers are having to scramble to cover their needs. The most significant new development de-velopment is in commodity prices. pric-es. Since niid-April copper has advanced 2c, zinc Vzc, Jead lVic, aluminum Vic, nickel gc, and tin lc, Steel scrap has. ,risen about $6 a ton, A number of chemicals have been marked up, and rubber has advanced 10c, wool 10c, and hides 1c, Specific reasons for the advance es vary, but there is one general reason namely, the pressure of demand? The rise in sales of manufactured products is felt all the way back to the basic commodity com-modity markets, and demand, necessary to support the increased in-creased production, is augmented augment-ed along the line by the enlargement enlarge-ment of working stocks and commitments. Building materials prices are rising. Currently they average 5 per cent above last fall's low point, according to the Bureau of Labor Statistics index. Prices of many farm products and foods also have advanced. In the past six weeks the average price of 11 foods and farm products, pro-ducts, quoted daily by the Bureau Bu-reau of Labor Statistics, has risen 8 per cent. Seasonal influences, in-fluences, a relatively poor crop outlook, and market "squeezes," due to the impounding of supplies sup-plies under government support, are all factors. But in these markets, mar-kets, also, a principal cause of the rise is the high consumption and strpng demand that comes from the high employment and purchasing power of the urban population. The chief support of the boom is consumer spending on automobiles auto-mobiles and on housing and everything ev-erything that goes with it. However How-ever business spending is also above expectations. |