Business: The Economy: A Guide to the Slump

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...

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