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Industrial Output Slump Signals Recession Risks
December industrial output fell 2.8 percent the steepest monthly drop in 16 years, with auto assemblies tumbling about 25 percent to 5.4 million units. Wholesale prices declined 0.5 percent for December but rose 20.9 percent in 1974. Unemployment benefit checks jumped to 3,923,700 in Christmas week. Ford and other automakers warned of further cutbacks as inventories remain near records. Rep Wilbur Mills admits alcoholism, cited as inspiration for treatment among others.
MENTIONED IN THIS ARTICLE
Washington
Federal Reserve Board
Ford
Congress
Fed
Labor Department
Ford Motor Co
Chicago
Wilbur Mills
Morris Chafetz
The
National Institute On Alcohol Abuse and
American Medical News
American Medical Association
Chafetz
Arkansas Democrat
America
Betty Ford
Happy Rockefeller