STATE OF BUSINESS: Up Production, Up Prices

As the second quarter ends this week, Government economists felt better about the continued growth of the U.S. economy. In the April to June period, they estimated that the gross national product rose to an annual rate of $505 billion, $5 billion more than the first quarter, when the economy at last hit the magic half-trillion mark. The Administration's economic experts expect the G.N.P. to move up to $510 or $512 billion in the third quarter, to $520 billion in the fourth quarter. While this would be below the wild-blueyonder January estimates...

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