STATE OF BUSINESS: Ahead of the Dream

As 1950 began, President Truman, in a chesty mood, told Congress that in five more years the U.S. might well be turning out $300 billion worth of goods and services, as against the January 1950 level of $253.8 billion. But the U.S. economy was growing faster than even the President dreamed. Last week the Commerce Department reported that the gross national product had soared to an annual rate of $284.3 billion in the third quarter.