The Economy in 1984: Industry Perspectives
The U.S. economy steamed into its second year of recovery, with little perceptible reacceleration in inflation. In the first quarter of 1984, gains in employment and production accelerated at near-record rates; new-auto sales rose to their highest levels since 1979; and housing starts reached their highest rates since 1978. Indirect evidence of the recovery’s strength was equally impressive. Supply shortages cropped up, which is unusual for so early in a recovery. Even some of the troubled smokestack industries reported, or expect to report, profits in 1984.
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