Raising the Sights

When the Federal Government last fall predicted that the U.S. would spend $39.5 billion for construction in 1955, many a businessman thought the forecasters, were too optimistic. But last week the U.S. Commerce and Labor Departments took a hard look at current construction and decided that they had been too pessimistic. Raising its sights another notch, the Government estimated construction outlays this year will reach $41.8 billion, a full 11% above the record spending of 1954. House building will be just a shade under the all-time 1950 record; office construction, stores, churches, schools, public works and highway construction will soar past all previous peaks.

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