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Newspaper
Wellington Leader
Location
Wellington, Texas, United States of America
Date
Dec 28, 1972
Page
1
Babson's prognostication for 1973 weighs inflation as the decisive factor. Monetary policy may lean against inflation while price and wage pressures threaten a cost-push surge. Administration actions, labor and management behavior, and potential price controls shape the year ahead with a hopeful view that inflation stays moderate and production rises about 5 percent.
The Babson staff predicts 1973 GNP in current dollars will rise about 9 percent from 1972, with a 4 percent gain in constant dollars. Private consumption and private domestic investment drive growth, while state and local demand and foreign trade improvements also aid. A ceasefire in Vietnam is hoped, with no World War II risk in 1973, and a shift in US foreign policy back toward Latin America is urged to avert trouble.
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