1977 in Review Economic Expansion and Gloom
The year 1977 saw strong economic expansion with real growth around 5 percent and a housing boom near 2 million starts. Unemployment hovered above 7 percent, blacks faced 14.5 percent and black teens 40.4 percent, while personal incomes surpassed 1.5 trillion and corporate profits rose. Yet widespread gloom persisted as fears of a 1973-75 downturn lingered and inflation lingered in double digits early, then eased later in the year.
MENTIONED IN THIS ARTICLE
Federal Reserve
Cedar Rapids Marion Area Boasts Low Mood Proof Economy
The Cedar Rapids Marion region leads inland cities with the highest export per capita and accounts for about a quarter of Iowa’s total exports. State data show Iowa manufacturing plants export over 1.1 billion dollars annually, with Cedar Rapids at 271 million last year. Gov. Ray notes industry employs 30 percent statewide and 34.2 percent locally. Cedar Rapids hosts 145 plants with 650 million in annual output across diverse firms including grain processors and a meat packing plant, linking to agriculture for a diversified, resilient economy.
MENTIONED IN THIS ARTICLE
Cedar Rapids
United States
Iowa
Robert Ray
Iowa Manufacturers Association
Cedar Rapids-Marion Area
Robert B. Faxon
Also Mentioned on This Page
In Review
Ppb
Sennen
Sylvia Porter
C.r.marion
Pittsburgh
UPI
Anestos Rodites
Pittburgh
University of Pittsburgh
Cathedral of Learning
Anthony Troiano
Rodites
University
Veterans Memorial Coliseum
Germany
Frank
Frank’s. Wunderburger
Frank’s
Franks
SALE
Younker
MENS
M.L
KODAK
Camera Center
Yonique Cableknit
Orion
S.M.L
Boulevard Sportswear
Famous Brand Cosmetics
Vanity Fair
Misses Cowls
Isses
Lindale Plaza
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