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Lethbridge Herald Newspaper Archives

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Lethbridge Herald, The (Newspaper) - November 17, 1973, Lethbridge, Alberta 1974 outlook November LITHMIDQIHlftALD-t Sluggish U.S. economy predicted ANN Mich. economists have pre- dicted that the United States economy will turn sluggish in 1974 because of the energy pinch and less spending on items like cars and homes. They said productivity would remain almost un- changed while unemployment rises. 'no recession was Foreseen by University of Michigan professors Saul Hymans and Harold Shapiro in their report prepared for the opening of the university's 21st annual Conference on the Economic Outlook. lower growth per- ormance will be accom- lanied by a minuscule one- increase in produc- ivity and an unemployment averaging 5.2 per cent for .he year as a whole and rising luring the year. The over-all -ate of inflation is forecast at per they said. Growth in the U.S. next year vill be held to12.3 per compared to six per cent for they said. The growth rate refers to the Gross National Product which is the volume of goods and services produced in a year in the nation. The GNP is expected to reach trillion in compared to trillion this year. UPTURN PREDICTED An upturn is predicted start- ing in the second half of 1974 compared to a record billion in 1973. Spending for construction of new homes is predicted to reach billion in down from billion this year. ToUl consumer spending is expected to reach KM bifflon in 1974. compared with billion In 1973. The increases will be mainly in nondurable goods such an food and clothing and on services. annual rate of growth. significant improvement in consumer sentiment any time within the next six months could lead to a sub- stantially lower saying a sharper rebound in the economy during the second half of 1974 and early they said. A decline in home building and a fall-off in consumer buy- ing the-durable items such as cars and furniture was the main reason for the slowdown in growth expected in 1974. Americans are expected to pay billion for automo- biles and parts next U.S. corn crop record estimated WASHINGTON The size of the 1973 United States corn the livestock feed grain most needed to increase' consumer food supplies next deteriorated last month but still will be a record 5.67 billion the agriculture department said Friday. Crop reporting board of- ficials said the new based on Nov. 1 is one per cent less than com- puted in October but two per cent more than the 1972 harvest. The soybean crop was esti- mated at 1.57 billion also down one per cent from October. But this was four per cent more than last year's production. when processed into high protein meal for also are vital for produc- tion of poultry and ASTRO REALTY LTD. Proudly Presents HOMES OF 3rd ANNUAL HOME SHOW SATURDAY SUNDAY 2-9 p.m. 2-9 p.m. LUCKY DRAW BARREL See These 6 Beautiful Show Homes 3521-21st Ave.S. 2121 -35 St. S. 3615-21 st. Ave.S. For more Information phone 328-7748 2202 36th S. 3618 21it Avt. S. I The report said the corn crop was nearly 60 per cent harvested as of Nov. well ahead of a year earlier. But rains and floods in parts of the Corn Belt prevented many farmers from harvesting their crop' during the first two weeks of October. In another report the department predicted net farm income this year will soar to a record up billion from the previous high. The new es- timate is about billion more than department experts pro- jected a few months ago. the department said its produc- tion index as of Nov. was 119 per cent of its base 1967. That was down from 120 per cent Oct. 1 and 113 per cent for 1972 pro- duction. Despite record crop produc- tion this exports con- tinue draining reserves at an unprecedented rate. That has helped keep prices for many of the key commodities at near record levels and has prompted the Nixon ad- ministration to seek all-out crop production in 1974. Earlier this the department announced farm exports would soar to a record billion in the fiscal year ending next June up nearly 50 per cent from billion in 1972-73. Based on recent reports by more than 1.3 billion bushels of corn will be sold overseas in 1973-74. In ad- nearly 4.7 billion bushels will be used at meaning a total use of around 6.0 billion bushels. This man is having the time of your Alberta Check Stops can stop him before he stops you. The driver behind you could be the death of you. Next drivers who drink too much are expected to fill the equivalent of a 300-grave cemetery They are also expected to maim or injure more than women and children. There's only one way to prevent this. Impaired drivers must be kept off the To stop we must also stop safe drivers. When you come to a Check have your pink card ready. Your delay will be kept as brief as possible. The driver we all want to keep off the road may be the one approaching you. The. drinking driver with death on his breath. CHECK STOP ALBERTA CAN MEAN SAFE DRIVING. HELP US KEEP THE IMPAIRED DRIVER OFF OUR ROADS. luinlnu nf TM QWMril I BQMESflHNGS I with Our Lower-Priced CENTRE VILLAGE IGA AND MARTENS IGA COALDALE Monday and Tuesday November 19 and 20 til Closing NovwntMr 20th 1073 there's MORE to love at FREE DELIVERY Remember... Save Your Tapes For Flamenco Cookware California Canada No. 1 LETTUCE Firm buds APPLES Laundry Detergent Jolly Miller ORANGE CRYSTALS oz. piekign .Pickige For All Your Christinas Baking Meeds Shop Your IGA Store Monarch Pouch Pack CAKE MIXES Canadian Process CHEESE Squirrel PEANUT BUTTER ;