Publisher's Synopsis
Excerpt from The Demand and Price Situation, Vol. 69: September 1960
Departments of Commerce and Labor and Federal Reserve Board.
The Federal Reserve Board's index of production of home goods (mostly furniture and appliances), followed a similar trend. It reached a peak in the final quarter of 1959, followed by a moderate decline since. Production of television and radio sets and furniture and rugs have held up well in 1960, while appliance output is off 15 percent between December and July. Among the major appliances, output of vacuum cleaners and laundry equipment was down the most, with refrigerator and home freezer output down moderately.
Retail inventories of furniture and appliances have increased $50 mil lion in 1960, and apparently manufacturers are also holding larger stocks of finished goods. As a result of the relatively heavy inventory position, and slow sales, prices at retail levels have weakened song in recent months.
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