TRADE EXPANSION

Manawatu Standard, Volume LVII, Issue 201, 26 July 1937, Page 7

TRADE EXPANSION

OPTIMISM IN BRITAIN. REVIVAL OF EXPORTS. DESPITE SEASONAL TREND. (United Press Association—By Electric Telegraph—Copyright.; Received July 26, 10.55 a.m. LONDON, July 25. Tho markets remain more suspended than animated. Far Eastern bonds fluctuated wildly as the prospects of a Sino-Japanese war advanced and receded. Industrials began to show greater firmness towards the close of tne week. Oils and base metal shares are firmer, but rubbers are dull. The Economist’s review states: “Trade is more optimistic and business activity has continued, to expand, despite the normal seasonal trend. Reports from the principal industrial centres indicate that the volume of new business is well maintained, and there should be a further expansion in the next few months. Profits are increasing as rapidly as ever and the capital market has shown signs of revival in recent weeks. “A salient feature of recent months has been the expansion of exports and manufactures of almost every kind. Iron and steel and their dependent trades are working to capacity; even the building trades continue to expand. World trade is rapidly improving owing to the decreasing ability of tho individual countries to satisfy their domestic needs internally. The longterm trend in primary products appears to be upward.” The Economist, however, points out that, allowing for the growth in the world’s productive capacity, international trade is still lower than before the War. Even the striking boom in shipping has only pushed up the tonnage under construction in Britain to about half the 1913 levels.