Publisher's Synopsis
Excerpt from The Demand and Price Situation, Vol. 41: May 1958
General business activity has declined for the past 9 months, but a number of indicators leveled out between March and April. Consumer income rose as Government payments to individuals more than offset declines in wages and salaries. Retail sales of both durable and nondurable goods increased about 2 percent between March and April. Employment was up but not quite as much as normal for April. Manufacturing production and employment declined further. Industrial prices were relatively steady between March and April.
Consumer prices continued to advance in March reflecting higher food prices, particularly for meats, fruits and vegetables.
The temporary delay in marketings of meat animals will soon end, and as supplies turn up, prices will edge down. Prices of fed steers are expected to decline moderately until summer and then level out near those of last summer.
Hog prices may remain steady until mid-summer and then decline in the fall to a level probably close to last fall.
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