omy, which had been through two recessions in three years and was in one when Kennedy took office, accelerated notably during his brief presidency. Despite low inflation and interest rates, GDP had grown by an average of only 2.2% during the Eisenhower presidency (scarcely more than population growth at the time), and had declined by 1% during Eisenhower's last twelve months in office.[140] Stagnation had taken a toll on the nation's labor market, as well: unemployment had risen steadily from under 3% in 1953 to 7%, by early 1961.[141]
The economy turned around and prospered during the Kennedy administration. GDP expanded by an average of 5.5% from early 1961 to late 1963,[140] while inflation remained steady at around 1% and unemployment eased;[141][142] industrial production rose by 15% and motor vehicle sales leapt by 40%.[143] This rate of growth in GDP and industry continued until around 1966, and has yet to be repeated for such a sustained period of time.[140] There were nevertheless some painful moments, as in the stock market, which had steadily declined since Kennedy's election, and which dropped a full 10% shortly after the administration's action on the steel industry in 1962.[144]
The major steel companies announced in April 196
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Subject: panies announced in April 196 
Fri Mar 18, 2011 4:27 am