PRODUCTION IN AMERICA
DECLINE REPORTED WASHINGTON, August 17. The Commerce Department reported to-day that the total vhlue of all goods and services produced in the United States during the second quarter of 1949 was slightly less than in the first quarter. The figures were at annual rate of 250,000,000,000 dollars in the second quarter, compared with 262,500,000,000 dollars in the first quarter. The Commerce Department said that the decline in the figure was not alarming. It was attributable merely to the desire of businessmen to reduce their inventories. Otherwise, there were many favourable economic developments during the second quarter. Personal income and expenditures remained stable, while consumer demand was strong, Mr Leon Keyserling, a member of President Truman’s Council of Economic Advisers, said in a speech today that the amount of goods and services produced in the United States must increase by from 3 to 4 per cent, each year to meet the needs of the growing population. The increase should total from 50,000,000,000 to 100,000,000,000 dollars within 10 years.
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Ashburton Guardian, Volume 69, Issue 263, 19 August 1949, Page 3
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170PRODUCTION IN AMERICA Ashburton Guardian, Volume 69, Issue 263, 19 August 1949, Page 3
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