Read an issue on 18 Apr 1971 in Racine, Wisconsin and find what was happening, who was there, and other important and exciting news from the times. You can also check out other issues in The Racine Journal Times Sunday Bulletin.
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Racine Journal Times Sunday Bulletin (Newspaper) - April 18, 1971, Racine, Wisconsin
4a Racine sunday bulletin sunday april to f971 believe Consumers hold key to Economy Washington apr the automobile carried the nation to Economy Back to recovery in the first Quarter of 1971, but now Nixon administration economic Hope must ride on the unpredictable spending habits of Consumers. In the next three months government economists Are banking on a Strong thrust from consumer spending to continue the Strong growth in the Economy rolled up in january february and March. Although the consumer has been relatively stingy with his Money in the past year Nixon administration economic advisers say the expansion under Way will induce him to part with it. In the first Quarter of the year Gross National product a output of the nation to goods and services a piled up a hefty $28.5 billion Advance with almost two thirds of the gain traced to the catchup in automobile production from last fall to general motors strike. Although the Advance a record in sheer Dollar volume dropped Short of president Nixon to forecasts the White House ruled out proposing immediate tax cuts to give the Economy another boost. Government economists said they prefer to watch consumer spending which turned out to be stronger in March As measured by an increase in retail sales. Murray Weidenbaum. Assistant Secretary of the Treasury said housing state and local government spending an expansive Money Supply and a rising Stock Market Point to a healthy upturn in the Economy in the next three months. A of think a cumulatively this is going to trigger a More rapid expansion in consumer spending a he said. A a we tre encouraged by March to retail sales figures a said Herb Stein a member of Nixon to Council of economic advisers. Both Weidenbaum and Stein pointed to a steady decline in the savings rate of americans. In the third Quarter of 1970, Consumers were saving 7.6 per cent of their disposable income. In the final Quarter of last year it dropped to 7.4 per cent. In the latest statistics released Friday the savings rate edged Down to 7.2 per cent still High by historical standards. The White House has predicted the savings rate will average 6.9 per cent for All of 1971. The increase in consumer spending is not at All certain. It depends on psychology economists say which Means less fear about the War Domestic unrest unemployment and inflation. The unemployment rate still hovers around 6 per cent. Monday hours 9 30 . To 9 . 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Now 5,99 Wicker shop main floor � � Nill 9.99 regular 14.95 10-piece decorated Fondue set 2 quart size Fondue in Avocado Green flame red Harvest Gold with decoration it Hardwood base sterno Burner and six stainless steel Fondue Forks gifts main floor % we � � � it � University students used their fingers to sign a petition in blood saturday in Taipei Formosa to urge president Chiang blonds protest Kai Shek of nationalist China to take Over the sovereignty of a Fri Wei the to 0yutai Senoia islands after the . Announced that the Isles will be returned to Japan in 1972. About 2,000 students took part in the signing of the petition. \
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