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(Studio) Commerce Department says index of leading economy indicators drops by 1.3% in October; September index dropped 3.3%. White House reaction to economy news follows.
REPORTER: Howard K. Smith
(White House) Press Secretary Ron Nessen says economy news comes as no great surprise. President meets with new energy adviser Frank Zarb; till Zarb makes new energy conservation proposals, pressure grows for stiffer gasoline tax. Federal Reserve Bd. chairperson Arthur Burns, and Treasury Secretary William Simon support gasoline tax although President Ford opposed to it.
REPORTER: Tom Jarriel
- Jarriel, Tom;
- Smith, Howard K.
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