Public mood sees persistent recession fears and rising prices
A Harris survey of 1,447 U.S. households finds 66 percent expect a recession within a year, while 54 percent doubt a prolonged downturn. Seventy percent report prices still rising faster than a year ago, and 61 percent save for a rainy day even as 25 percent buy now before prices climb further. Prospects of investing grow dim as confidence wanes, complicating early stock market returns and signaling a delicate balance between curbing demand and triggering a deeper recession.
MENTIONED IN THIS ARTICLE
Nest
Harris
Leading indicators show July boost for economy
The Commerce Department reports the leading index rose 1.8 percent in July, reversing June’s dip, with inflation pressures in some sectors. New unemployment claims fell 8.7 percent to 232,000, while durable goods orders and factory spending rose, offsetting weaker stock prices and fewer building permits.
MENTIONED IN THIS ARTICLE
Washington
Commerce Department
Department
Tyne
Dent
Industries report scarce materials threaten economy
A congressionally backed survey from 258 U.S. industries shows 246 report shortages of at least one commodity, with aluminum milk ink and more in short supply. Manufacturers blame inflation policies energy shortages and high interest rates while warning reduced supply could push prices higher.
MENTIONED IN THIS ARTICLE
Washington
U.S
Honeywell
Bell & Howell
Stokely-Van Camp
Utah International
Henry M Jackson
b-Wash
Senate Investigations Subcommittee
Jackson Sa
Also Mentioned on This Page
Warris Survey
Fy Louis Harris
Commerce
Frederick B. Dent
Kenneth Rush
Petrus Lardinvis
Common Market Commission of Agriculture
United States
Steretary of Labor
Peter J. Brennan
Tex
Rees
Auve
Tong Beach Tire CO
Atips Abel
Gordon’ Gin
England
America
Treasury
the Treasury
Lakewood Carson
Paramount
Torrance
Hawthorne
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