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Newspaper
Aiken Standard
Location
Aiken, South Carolina, United States of America
Date
May 16, 1974
Page
3
The April rise in industrial output signals a potential end to the recession triggered by the Arab oil embargo. The Federal Reserve reported a 0.4 percent gain after March’s 0.3 percent drop, led by a 14 percent surge in auto assemblies to 7.5 million units annually.
He supported administration predictions that there will be no recession in 1974. He said the 5.8 percent drop in the first quarter would level off in the second quarter and growth resume after mid year.
A recession is defined as two consecutive quarters of decline though the industrial production index sits at 124.7 percent, below the 127.5 percent peak last November. Commerce Department analysts cite auto industry recovery as a major factor boosting April output, with gains in business equipment and iron and steel mill products and weak housing fleet activity due to high interest rates.
In Los Angeles authorities revisit the idea of a second gun in the Robert F. Kennedy assassination. County Supervisor Baxter Ward raises the issue after criminologists argue bullets came from two firearms. Prosecution counters retesting Sirhan Sirhan’s gun would be unreliable and unhelpful.
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