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Economic Commentary

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.

The views authors express in Economic Commentary are theirs and not necessarily those of the Federal Reserve Bank of Cleveland or the Board of Governors of the Federal Reserve System. The series editor is Tasia Hane. This paper and its data are subject to revision; please visit for updates.

Suggested Citation

Schnorbus, Robert. 1984. “The Economy in 1984: Industry Perspectives.” Federal Reserve Bank of Cleveland, Economic Commentary 5/7/1984.

This work by Federal Reserve Bank of Cleveland is licensed under Creative Commons Attribution-NonCommercial 4.0 International