Prosperous end of '77 predicted by Merrill Lynch analyst
John Cunniff reports a midyear economic outlook from Albert H. Cox Jr. of Merrill Lynch Economics. The forecast expects gentle inflation around 6.5%, steady or slightly lower interest rates after a spring monetary slowdown, and stronger consumer spending led by durable goods amid cautious capital investment signals. The note frames a hopeful, civilian outlook despite widespread skepticism.
MENTIONED IN THIS ARTICLE
Albert H. Cox, Jr
Merrill Lynch Economics
Fed
Commerce Department
Farm prices dip 5 percent May 15 to June 15
Washington AP reports farm prices paid for raw products declined 5 percent between May 15 and June 15. Falls across soybeans cattle corn wheat vegetables and fruit contrasted with higher Hog and dairy prices. Overall prices were 6 percent below June 15 1976 while expenses rose slightly above a year ago.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Reporting Board
Rural jobs grow faster than urban ones, 1970 to 1977
Agriculture Department figures show nonfarm rural employment rose 22 percent from 1970 to 1977, about double the 11 percent gain in cities, though city jobs added 58 million versus 3.8 million in rural areas. Migrant farm workers rose to 213,000 last year, 8 percent of farm labor. Retail food prices expected to rise about 6 percent this year, driven partly by nonfarm item costs.
MENTIONED IN THIS ARTICLE
Washington
Agriculture Department
Claude C. Haren
The
Department
Economic Research Service
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