Speeding Up

The automakers, who have been keeping their fingers crossed about rising sales. had plenty to encourage them last week. Sales of new cars in the middle ten days of December were up 4.9% over the first ten days of December, and last week were 34% over the same period in '57. The sales increase was the more encouraging because it came in the midst of freezing weather and snow over much of the U.S.. and at a time when Chrysler production was cut by a strike. Small cars continued to gain speed; American Motors and Studebaker-Packard picked up 6.6% of December sales v. 2.8% last year.

Other industries also found signs of increasing sales. The National Electrical Manufacturers Association predicted a reversal in the three-year slide in appliances, expects '59 sales to be 4% greater than '58. The New York Stock Exchange reflected the optimism; the Dow-Jones industrial average climbed to 572.73, within .44 of its alltime high.

Though the cost-of-living index for November rose slightly with the price rises of new cars, Government economists expect lower pork, fruit and vegetable prices to hold the index down until spring. Prices went down at Montgomery Ward; the giant mail-order house cut 16,042 items by an average of 10%. pegged some items lower than they have been at any time since 1949.

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