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Economy shows cooling as production dips in August
The AP reports a drop in US industrial output for August, fueling cautious optimism that monetary restraints are curbing inflation. Housing starts eased slightly while forecasts push 1970 capital spending higher. Ford, GM, and Chrysler raised 1970 model prices, signaling ongoing inflationary pressure. The Manhattan, a giant icebreaker, opened Northwest Passage test to link Alaska to East Coast markets and Europe.
MENTIONED IN THIS ARTICLE
Don Battle
New York
Federal Reserve Board
U.S
Department of Commerce
Leon Kibbert
Lionel D. Edie & Co. Inc
Ainfred Boston Associates, Inc
Rinfret-Boston
Federal Reserve Bank of Chicago
Maxwell House
General Foods Corp
Federal Reserve Bank
Ford Motor Co
General Motors Corp
Ford
Alaska
Europe