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Leading Indicators Signal Extended Recession Pressure
The Commerce Department index fell 0.5 percent in March for the 11th straight month, with declines in the average workweek and rising unemployment aid claims suggesting the jobless rate could rise above 9 percent. Gold, grain, and soy prices slid after erroneous Falklands reports, while Wall Street steadied on Reagan deficit-cutting push. Baldrige forecast a rise in the index by quarter's end, with hopes of growth in the second half amid tax cuts and policy moves.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Argentina
Falkland Islands
Wall Street
Reagan
Congress
Treasury
Donald T. Regan
Reagan Administration
Commerce
Malcolm Baldrige
Baldrige