FORECASTS: Edging Up to Recession

Somewhat belatedly a top Administration official conceded last week what many private economists have been saying for some time: the nation's output of goods and services is likely to show a decline for all of 1974. Testifying to the Congressional Joint Economic Committee, Kenneth Rush, the President's economic spokesman, predicted that during the year's second half the rate of expansion in real gross national product will probably fall below the 2% to 4% figure that had previously been forecast by the Administration. That would mean a drop in G.N.P. for the entire year. Economic growth has already declined at...

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