GROWTH: At Last the Boom Falters

Fueled by free-spending consumers and businessmen, the economy this year has been hurtling forward at breakneck speed. For months economists have been warning that the rapid rate of expansion could not continue, and that unless the Nixon Administration could hold the economy to a more sustainable pace, the burst of prosperity would be short-lived. Now there are growing signs that the boom is finally faltering.

Last week the Government reported that industrial output in May rose a slender 0.5%, the smallest increase in ten months. In a Commerce Department survey, U.S. manufacturers said that they anticipated sales gains of only...

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