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Newspaper
Anderson Herald
Location
Anderson, Indiana, United States of America
Date
Oct 14, 1966
Page
22
The Commerce Department reports GNP at a record annual rate of 746 billion dollars for the latest quarter. Inflation remains a factor, but the inflationary rise eased between July and September. Military spending due to Vietnam pushes Q3 up by about four billion, marking the largest quarterly rise since the war began.
Washington reports that Commerce Secretary John Z Connor and a top White House economic adviser said no wage or price controls are needed despite war spending. Viet Nam expenditures are seen around 14.5 billion yearly, with inflation hitting GNP gains in the first three quarters. An Army official cautions industry pinch from defense demand, while analysts note civilian price pressures. Bardwell funeral services set for Indiana University supervisor Estus Bardwell.
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