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Economic News #37435

ABC Evening News for Friday, May 30, 1975
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(Studio) Admin. issues midyr. budget review. Unemployment up more and economy activity not expected to show as fast an upturn as earlier predicted.
REPORTER: Howard K. Smith

(DC) Econ. advisers announce gloomy news; predicted budget deficit for `76 revealed. [Chairperson economy advisers Alan GREENSPAN - assumes unemployment to peak around 9% sometime in next several mos. and then start heading down.] Predictions for `76 unemployment, GNP, consumer prices compared with `75 outlook.
REPORTER: Herbert Kaplow

(NYC) Yesterday's glowing report on index of leading economy indicators forecasts bottoming out of recession; most economists don't expect strong recovery till late fall. Today's revised economy projections recognizes recovery likely to be slow and uneven. Continuing decline in inflation rate should be watched carefully.
REPORTER: Dan Cordtz

Cordtz, Dan;
Kaplow, Herbert;
Smith, Howard K.

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