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Newspaper
Clifton Record
Location
Clifton, Texas, United States of America
Date
Dec 31, 1970
Page
3
The analysis forecasts 1971 GNP averaging above one trillion dollars with roughly six percent real growth and higher prices. Early 1971 should show strong consumer demand fading into a second-half pullback as unemployment and cautious spending temper gains.
The Babson’s Reports staff expects personal income to climb in 1971 helped by wage boosts, automatic step-ups, and cost of living adjustments. Employment may rise early next year but profit margins face pressure from high labor costs. Unemployment could edge past 6 percent as inflation risks loom, with federal state and municipal tax burdens rising. Corporate profits should improve about 7 percent, aided by better earnings for 1970 losers and higher dividends. The Fed may ease credit cautiously while price wage controls remain a possibility if needed. Internationally, potential standoffs persist but no World War III. focus shifts to persuasion, trade, and budget deficits impacting the dollar.
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