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Economy / Postal Workers / Consumer Purchases #54816

ABC Evening News for Friday, Jul 21, 1978
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(Studio) United States economy growth, as indicated by gross national product figs. for 2nd quarter of year, and continued rise in inflation for same period noted. President Carter's wage incr. guidelines for fighting inflation mentioned; postal workers agreement reported.
REPORTER: Frank Reynolds

(DC) Postal workers' concern about job security outlined. [Elwood SAUNDERS - discusses job security issue.] [Valencia ROYALL - says main issue is no-layoff clause.] Outcome of negotiations reported [Union negotiator James LaPENTA - says wage agreement is respectable.] Future for postal rate increases noted. Proximity of wage agreement to President Carter's wage guidelines stated.
REPORTER: George Strait

(Studio) Incr. in consumer spending, perhaps as hedge against high inflation, reported.
REPORTER: Max Robinson

(No location given) Consumers' incrd. purchase of luxury items in last few mos. due to fears of even higher inflation reported [McNey Motors president Tom HOOK - notes increase in Mercedes Benz and Rolls Royce sales.] [George LEVINE - reports increase in car cost 3 days after his purchase.] [Jewelry department manager Guy DUNCAN - predicts 30% rise in jewelry prices in 1 year] Borrowing rate increase and savings rate decrease reported.
REPORTER: Stephanie Levinson

Levinson, Stephanie;
Reynolds, Frank;
Robinson, Max;
Strait, George

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