Predictions for 1962 From 15 Washington Economists
A year end survey finds broad optimism in business and labor, with inflation staying moderate, unemployment easing, and GNP rising from 520 to about 560 or 565 billion. Worries center on a worsening gold drain, possible higher interest rates, and political pressure over steel wage gains.
MENTIONED IN THIS ARTICLE
Ray Cromley
Enterprise Assn
Washington
NEA
Busi Ness
Federal Reserve Board
Economic Forecasts Hint at Slow Growth in 1962
Economists foresee higher government spending in 1962 and a continued notched recovery for the U.S. amid imports rising and exports lagging. They warn of persistent unemployment near 5.5 percent, widespread automation, and a need to replace obsolete machine tools to boost productivity and global competitiveness.
MENTIONED IN THIS ARTICLE
U. S
Europe
America
United States
U.S
Ciently
Forecasters named in broad government and business poll
A Washington based article lists economists and officials from state, federal, labor and corporate groups who contributed to a broad forecast study. It notes no single person should be quoted as agreeing with all parts and credits the work to multiple polls and reports from banks, research institutes and firms.
MENTIONED IN THIS ARTICLE
Washington
NEA
W. Michael Blumenthal
Rex Daly
Department of Agriculture
Nathaniel Goldfinger
American Federation of Labor-Congress of Industrial Organizations
Walter W. Heller
President's Council of Economic Advisors
Albert R. Koch
Board of Governors
Federal Reserve System
Charles I. Mehl
Associated General Contractors of America
Louis J. Paradise
Department of Commerce
Office of Business Economics
Emerson P. Schmidt
Chamber of Commerce of the
United States
Seymour L. Wolfbein
Department of Labor
Early 20th Century Labor Trends and Wilson’s Europe Visit
Economists see automation cutting jobs rather than expanding capacity. Domestic and foreign competition will push firms to cushion automation’s impact on workers. Management may gain some rights. The first U.S. president to visit Europe was Woodrow Wilson, who went to France for the Paris Peace Conference after World War I.
MENTIONED IN THIS ARTICLE
U. S
Europe
Woodrow Wilson
France
Paris
Also Mentioned on This Page
Pandy
William J. Cheyney
National Foundation For Consumer Credit
Gerhard Colm
The
National Planning Association
Penneys Il
Penney’s
Orion
Dacron
Sixes Ste
Tion
Save
Orson
Penney
Melton
Orlon
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