ECONOMIC news out of Washington took an encouraging twist last week as the Government reported upticks in three key indicators. From February to March, housing starts rose 6%, personal income climbed, and industrial production increased (by 0.2%) for the first time in eight months. On the other hand, the annual rate of price increases in the year's first quarter speeded up to 5%, slightly more than in the previous quarter, meaning that inflation was as bad as ever. At the same time, a preliminary estimate showed that the first quarter's real gross national product, after discounting price increases, slid by...
Business: The Economy: A Guide to the Slump
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