Business: Tools & Homes
In Cleveland last week the National Machine Tool Builders Association reported that machine tool orders, good index of industrial activity, in July had jumped to 119.8% of the 1926 average, up 31% from June.
Last week F. W. Dodge Corp. reported that residential building contracts, good index of private recovery, in 37 Eastern States for the first seven months of 1935 were greater than similar contracts for the whole of 1934. Said Standard Statistics Co., Inc.: "Expenditures for construction are one of the most greatly effective means of creating employment, since 76¢ of every dollar so expended goes directly to labor. The conclusion is inescapable that the upswing in home construction represents another milestone in the climb out of the depression."
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