Happy New Year

One reliable measure of how good business is--and how good businessmen expect it to be in the new year--is the money earmarked for expansion. In the first quarter of 1953, SEC and the Commerce Department reported last week, businessmen expect to pour money into new plants and equipment at an annual rate of $28.7 billion v. an estimated rate of $28.3 billion in the current quarter. Every industry except transportation is planning to spend more money for expansion; public utilities and manufacturers will spend more than ever before.

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