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Segment 3 (What Is A Recession?) #496664

NBC Evening News for Thursday, Nov 16, 1978
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(Studio) Report is on recession, economy condition now being discussed by many along with potential for depression.
REPORTER: David Brinkley

(NYC) Econs.' definition of recession and what condition means in terms of human conditions noted. [MAN - asks person about recent job.] Private econs.' predictions of recession early in 1979 mentioned. [Private economy Otto ECKSTEIN - has never before forecast recession this far ahead. Gives reasons for doing so now.] Details given about economy conditions that occur prior to and during recession. Govt.'s present efforts to slow down cntry.'s economy growth and curtail inflation described. Results of efforts to stop flow of money outlined. Ripple effect of economy, situation stated; consequences to hog farmer in Wisconsin cited. [Farmer Floyd HOLLOWAY - discusses consumers' elimination of ham and bacon from meat budget in hard economy times.] [Treasury Secretary Michael BLUMENTHAL - gives Carter administration outlook for 1979.]
REPORTER: Mike Jensen

Reporter(s):
Brinkley, David;
Jensen, Mike
Duration:
00:04:40

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