STATE OF BUSINESS: Leveling Off

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After five months of a downward glide, business last week seemed to be leveling off. Items:

¶ In San Francisco, General Motors President Harlow H. Curtice took a hard look at G.M.'s prospects for 1954 and concluded: "We are in a very comfortable position." G.M. is heading into the big spring selling season with near-record production, even better sales than expected to date. Employment is up 30,000 over last year.

¶ For the second week in a row, the Bureau of Employment Security unemployment benefit figures were down. New claims dropped 16,900, to 293,706, the lowest point of any normal week since last November. Total unemployment, according to the benefit rolls, was down 13,000, to 2,187,100, a little over 1,000,000 higher than a year ago.

¶ After polling its members, the National Association of Purchasing Agents, which bases its forecasts on actual buying plans, reported that members look for a business spurt during the second quarter of 1954. ¶ Treasury Under Secretary Marion Folsom came out with a flat prediction that both personal income and gross national product for the first quarter would be less than 1% below 1953's record levels.