Forecast Of U.S. Output
(N.Z.P.A.-Reuter—Copyright) WASHINGTON, Jan. 7.
The United States Commerce Department today reported that half the country’s major industries are expectedto raise their output by at least 5 per cent during 1969. But the department forecast some downward pressure on the economy early in the year.
The department’s business and defence services administration said in its annual report that prospects for 1969 were mixed, because the outlook was for a somewhat slower growth of the economy as a whole. "Consumer spending may be less exuberant in response to higher Federal, as well as generally rising state and local taxes, although these will be at least partially offset by gains in personal income,” the report said.
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Press, Volume CIX, Issue 31881, 8 January 1969, Page 14
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117Forecast Of U.S. Output Press, Volume CIX, Issue 31881, 8 January 1969, Page 14
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