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Newspaper
News
Location
Frederick, Maryland, United States of America
Date
May 14, 1983
Page
8
U S factories boosted production 2.1 percent in April, the strongest gain since 1875, while wholesale prices fell 0.1 percent. Analysts praised the shift toward steady growth with low inflation, noting mixed signals in food and energy costs.
In May, U.S. automakers reported overall gains with Chrysler Ford and American Motors up while General Motors dipped. The Dow Jones industrial average closed at 1218.75, up 4.35, yet down for the week. The New York Fed said money supply rose to 499.5 billion, exceeding analyst forecasts and prompting modest rate increases. Feldstein warned of likely price increases starting in May and beyond.
Lt. Gov. Curran said Nationalist China has a large trade surplus with the United States and aims to buy Maryland goods. After a Taiwan forum, six Maryland companies and Southern Maryland tobacco growers expressed interest, with talks to continue through the Chamber of Commerce. Curran noted Taiwan may visit Maryland and urged leveraging two-way trade while guarding against rising U.S. protectionism.
The New York Stock Exchange posted a broad advance Friday as inflation easing and economic revival boosted many sectors. The Dow rose 4.35 to 1218.75, with gains in Chrysler, Ford, Republic Steel, Sears, and J C Penney, while Monsanto and PepsiCo fell. Volume cooled to 83.11 million shares. The NYSE composite rose 0.42 to 95.07.
Maryland officials vow to meet and beat any Virginia offer to lure Fairchild Industries Inc. to Dulles. The firm plans to move from Germantown to a site near Dulles Airport, while Maryland counters with a 30 acre site at BWI. Spokesman William Fulwilder says no agreement yet and Fairchild is concentrating on Dulles. Maryland fears losing the hi tech project could hinder the state's national push to attract such industries.
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