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Introduction and Summary
Expansion and Inﬂation
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Adjusted Quarterly Totals Annual Rates Billions of dollars Braddock Hickman Business Cycles businessmen cent CIVILIAN EMPLOYMENT civilian labor force consumer durable consumer expenditures Consumer prices consumer spending consumption creased Current Business David Durand deﬁcit developments disposable income disposable personal income distributors economic activity Federal Reserve ﬁnanced ﬁrst quarter ﬁxed investment ﬂuctuations forward buying fourth quarter Gottfried Haberler government expenditures gross national product Gross private domestic growth of income increase Indexes industrial production inﬂation inﬂationary phase inﬂationary pressure inventory investment Korean period last half Manufacturers ment mobilization program Monthly months National Bureau National Income Supplement Nondurable Occasional Paper peacetime percentage personal saving private domestic investment purchases quarter of 1951 Ratio scale reduced reﬂected retail sales rise rose saving ratio SEASONALLY ADJUSTED QUARTERLY second buying wave second quarter sector shortages Simon Kuznets Source stock-sales ratios stocks sumer surplus Survey of Current Table third quarter tion Totals at Annual wartime