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Indicators Point Toward Recession in 1979
The leading indicators index fell about 0.5 percent in July signaling a recession. The Commerce Department will release July data. June dipped 0.1 and May rose 0.3. The Carter administration warns over 1 million jobs may be lost, with output possibly dropping over 1 percent from late 1978 to late 1979. The trade balance showed a deficit of 1.1 billion in July while oil imports hit a record 4.8 billion. exports rose to 15.7 billion.
MENTIONED IN THIS ARTICLE
Eileen Alt Powell
Associated Press
Washington
Commerce Department
Carter
U.S