- Email: [email protected]
Economics
Economics by Richard R. D ier Medical Care Index Up Again
Chart II-Glass Container Shipments b
The medical care cost index rose 0.1 % in March 1959 and reached a new high of 154.2. This figure compares with 144.2 in March 1958 (1947-49 equals 100).
Continued advances in fees for professional and hospital services featured the rise in the medical care index. Prescription and nonprescription drugs represent approximately 15.1 % of the medical care cost index.
Cha rt I-Consumer Price Index a City U.S. city average Atlanta Baltimore Chicago Cincinnati Detroit Los Angeles
New York Philadelphia St. Louis San Francisco
Medical Care 148.8 138 . 1 157 .2 155.9 151 .2 157.8 139.1 137.5 152 . 1 166 . 8 152.8
Source: U.S , Bureau of Labor Statistics a United States city average and 10 citiesMarch 1959 (1947-49 = 100).
The U.S. city average was 148.8, with New York having a low of 137.5 and St. Louis a top of 166.8 (see Chart I for Consumer Price Index averages).
Reta il Sales Surge Sales of retail and proprietary stores totaled $589,000,000 in March 1959, an increase of about 9.0% over the $540,000,000 recorded in March 1958. According to as-yet-unadjusted advance reports from the U.S. ' Department of Commerce, this trend continued in April 1959 with sales running approximately 8.0% ahead of the same month last year. An analysis of Government reports for the first quarter of 1959 is very encouraging: January 1959 sales were 7.0% ahead of last year; February 1959 sales increased 5.0% over February 1958; and March 1959 sales were 9.0% ahead of March 1958. Consequently, first quarter 1959 sales averaged a 7.0% increase over first quarter 1958 sales. At this rate, 1958's top sales of approximately $6,600,000,000 will easily be eclipsed by a $7,000,000,000 or more record to be established in 1959.
b
Gla~s Container
Manufacturers
Institute.
Inc.
1958, shipments were 33,526,000 gross (4,827,744,000 units), or 24.0% of domestic shipments. The 1957 total was 35,230,000 gross (5,073,120,000 units), or 25.2% of total domestic shipments. . Shipments have moved steadily upward since 1930. (See Chart II.) Of specific interest is the fact that drug container shipments have been approximately twice the amount of toiletries and cosmetic shipments since 1944. According to the Glass Container Manufacturers Institute, Inc., the dollar volume of new glass containers totaled $822,000,000 in 1958. It is ranked third in the multi-billion-dollar packaging industry and accounts for 8% of the total packaging market. Although not generally realized, packaging is the nation's ninth largest industry and its dollar volume is ahead of the 11th-place steel industry.
Dr. Flemming Gives 3-Point Career Guide Stressing the manpower shortage and the aim for something more than security in the careers young men seek today, Secretary of Health, Education, and
Welfare Arthur S. Flemming cited a 3-point guide in choosing a career at the ninth annual Career Conference of George Washington University, Washington, D .C. First, said Dr. Flemming, "Life's greatest satisfaction comes to those who choose a career with the best opportunity to render maximum service." Second, he continued, " Don't worry about security; it is written into our Government's social security and employment laws and in the various companies' pension plans and hospital insurance programs." In conclusion, he reminded students to "Consider not just the short-run but the long-term possibilities of a career."
Business Failures Retail pharmacy failures during J anu ary-March 1959 declined from the comparable period in 1958, according to a report prepared by the Business Economics Department of Dun & Bradstreet appearing in a recent issue of Dun's Review and jVIodern Industry. Only 27 pharmacies failed in the first quarter of 1959, compared to 34 in 1958 (see Chart III).
Chart
III-Retail Tra de Failu res c
Busi ness
Cumulative Total J anuary- March 1959 Food and liquor General merchandise Apparel and accessories Furniture, furnishings Lumber, bldg. mats., etc. Automotive group Eating, drinking places Retail pharmacies Miscellaneous Total C
1958
284 297 94 81 296 378 236 291 116 142 246 290 331 388 27 34 206 200 1,849 2,088
Source: Dun's R eview and Modern Industry.
IS YOUR STORE FULLY INSURED? - YOUR HOME?
Better Check! Replacement Drug and Cosmetic Glass Containers Drug · and cosmetic glass container shipments in 1958 declined from the record high achieved in 1957. During
costs have soared-
CONSULT OUR AGENT
VOL. 20, NO. 6, JUNE, 1959/ PRACTICAL PHARMACY EDITIO N
3 37
Chart II-Glass Container Shipments b
The medical care cost index rose 0.1 % in March 1959 and reached a new high of 154.2. This figure compares with 144.2 in March 1958 (1947-49 equals 100).
Continued advances in fees for professional and hospital services featured the rise in the medical care index. Prescription and nonprescription drugs represent approximately 15.1 % of the medical care cost index.
Cha rt I-Consumer Price Index a City U.S. city average Atlanta Baltimore Chicago Cincinnati Detroit Los Angeles
New York Philadelphia St. Louis San Francisco
Medical Care 148.8 138 . 1 157 .2 155.9 151 .2 157.8 139.1 137.5 152 . 1 166 . 8 152.8
Source: U.S , Bureau of Labor Statistics a United States city average and 10 citiesMarch 1959 (1947-49 = 100).
The U.S. city average was 148.8, with New York having a low of 137.5 and St. Louis a top of 166.8 (see Chart I for Consumer Price Index averages).
Reta il Sales Surge Sales of retail and proprietary stores totaled $589,000,000 in March 1959, an increase of about 9.0% over the $540,000,000 recorded in March 1958. According to as-yet-unadjusted advance reports from the U.S. ' Department of Commerce, this trend continued in April 1959 with sales running approximately 8.0% ahead of the same month last year. An analysis of Government reports for the first quarter of 1959 is very encouraging: January 1959 sales were 7.0% ahead of last year; February 1959 sales increased 5.0% over February 1958; and March 1959 sales were 9.0% ahead of March 1958. Consequently, first quarter 1959 sales averaged a 7.0% increase over first quarter 1958 sales. At this rate, 1958's top sales of approximately $6,600,000,000 will easily be eclipsed by a $7,000,000,000 or more record to be established in 1959.
b
Gla~s Container
Manufacturers
Institute.
Inc.
1958, shipments were 33,526,000 gross (4,827,744,000 units), or 24.0% of domestic shipments. The 1957 total was 35,230,000 gross (5,073,120,000 units), or 25.2% of total domestic shipments. . Shipments have moved steadily upward since 1930. (See Chart II.) Of specific interest is the fact that drug container shipments have been approximately twice the amount of toiletries and cosmetic shipments since 1944. According to the Glass Container Manufacturers Institute, Inc., the dollar volume of new glass containers totaled $822,000,000 in 1958. It is ranked third in the multi-billion-dollar packaging industry and accounts for 8% of the total packaging market. Although not generally realized, packaging is the nation's ninth largest industry and its dollar volume is ahead of the 11th-place steel industry.
Dr. Flemming Gives 3-Point Career Guide Stressing the manpower shortage and the aim for something more than security in the careers young men seek today, Secretary of Health, Education, and
Welfare Arthur S. Flemming cited a 3-point guide in choosing a career at the ninth annual Career Conference of George Washington University, Washington, D .C. First, said Dr. Flemming, "Life's greatest satisfaction comes to those who choose a career with the best opportunity to render maximum service." Second, he continued, " Don't worry about security; it is written into our Government's social security and employment laws and in the various companies' pension plans and hospital insurance programs." In conclusion, he reminded students to "Consider not just the short-run but the long-term possibilities of a career."
Business Failures Retail pharmacy failures during J anu ary-March 1959 declined from the comparable period in 1958, according to a report prepared by the Business Economics Department of Dun & Bradstreet appearing in a recent issue of Dun's Review and jVIodern Industry. Only 27 pharmacies failed in the first quarter of 1959, compared to 34 in 1958 (see Chart III).
Chart
III-Retail Tra de Failu res c
Busi ness
Cumulative Total J anuary- March 1959 Food and liquor General merchandise Apparel and accessories Furniture, furnishings Lumber, bldg. mats., etc. Automotive group Eating, drinking places Retail pharmacies Miscellaneous Total C
1958
284 297 94 81 296 378 236 291 116 142 246 290 331 388 27 34 206 200 1,849 2,088
Source: Dun's R eview and Modern Industry.
IS YOUR STORE FULLY INSURED? - YOUR HOME?
Better Check! Replacement Drug and Cosmetic Glass Containers Drug · and cosmetic glass container shipments in 1958 declined from the record high achieved in 1957. During
costs have soared-
CONSULT OUR AGENT
VOL. 20, NO. 6, JUNE, 1959/ PRACTICAL PHARMACY EDITIO N
3 37