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Abstract or Description

The economic recovery and expansion is strong. Although this recovery got off to a slow start, it has now made up the lost ground. Output has increased about as much during the first two years of this expansion as during previous expansions. Most important, output is accelerating. Each new revision of the statistics on real output, productivity, industrial production or other main line indicators of economic expansion shows that the rate of increase is faster than previously believed.


prepared for Federated and C.S. McKee. November 1972.