Western Europe: U.S. Investments Up
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Speek en Span. Many Yankee dollars are still tied up in highly visible consumer-goods industries and thus have a striking effect on everyday life. American companies, which frequently follow up exports with production facilities, are pushing such amenities as aluminum foil, thick and fluffy towels, Kleenex-soft toilet paper, and small private planes. More Englishmen shave with Gillette blades than with home-grown Wilkinsons. American canned hamburgers are selling strongly in France. In Italy, a housewife may scrub her walls with what she calls "Speek en Span" (Spic and Span), start off lunch with Campbell's minestrone, and take a siesta between Springmaid sheets.
* For the full year, the U.S. expects to run a payments deficit of some $1.5 billion, down from $3.1 billion in 1964. There will be a deficit in the second half, primarily because of military and tourist spending overseas, not corporate investment.
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