Taking the Measure

Everyone knew that the boom was growing week by week. But how much? From Washington agencies last week came the latest measurements of its growth.

P: Industrial production in September pushed the Federal Reserve Board's index up five points to a peacetime peak of 213, highest since June 1945.

P: The President's Council of Economic Advisers reported that the gross national product (total value of all goods and services produced) had run at an annual rate of $282 billion during the third quarter of 1950, an alltime high. (Previous peak: a rate of $270 billion in the second quarter of 1950.)

P: The CEA also estimated that corporation profits before taxes were at a record annual rate of $40 billion in the third quarter (v. the previous high of $35.3 billion in the same quarter of 1948). Profits after taxes were running at the rate of $23.2 billion a year, $1.3 billion ahead of the old 1948 record.

P: Personal income in August, said the Commerce Department, had reached an annual rate of $223.4 billion, up $2.7 billion from July and up $2.6 billion from the previous alltime high of December 1948.

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