Word: outputted
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...upturn that began just about a year ago seems to be picking up speed. For example, the Government reported last week that real gross national product-output of goods and services, discounted for inflation-rose 8.5% in the first quarter, rather than 7.5% as first estimated. Corporate profits before taxes jumped 45% over the first quarter of 1975, to a near-record annual rate of $140.8 billion...
...Compared with its European neighbors, West Germany is enjoying an exceptionally vigorous recovery from the industrial world's worst postwar recession. Its output of goods and services is expected to rise 4.5% this year, and inflation is running at 5.2%, one of the lowest rates in any developed country. Yet, paradoxically, the very vigor of the comeback has created an increasingly worrisome problem. The rising value of the mark against other major currencies is threatening to cut into critically important export sales by putting many German goods at a price disadvantage in world markets...
...factory's employee parking lot? Ah, but the factory belongs to the German automaker Daimler-Benz, whose employees may buy the company's prestigious product at a 21.5% discount. Last year Daimler-Benz's 129,000 workers snapped up 40,000 Mercedes, or 11.4% of total output. After one year, employees are free to resell their cars on the open market. These days they often get 10% more than they paid-and then turn around and buy another. Workers with ten years' seniority do not even have to wait for their new models...
Better still, the economists no longer express much fear that the recovery will fizzle out in 1977. They expect output to grow, and unemployment and inflation to decline, through next year as well. Their worst worry is a long-range one: that some time around the end of 1977 basic industries will run into shortages of capacity that would cause inflationary bottlenecks and also prevent the unemployment rate from dropping below 6% of the U.S. labor force...
...Production will rise more than expected. In December the board's average prediction was that real gross national product-total output of goods and services, discounted for inflation -would rise 6.2% in 1976. Now the range of guesses is from 6.3% (Beryl Sprinkel, executive vice president of Chicago's Harris Trust & Savings Bank) to 6.9% (Otto Eckstein, head of Data Resources Inc., an economic consulting firm...