Word: output
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...credits. The American Association of Petroleum Geologists claims that some of the bill's pricing proposals will inhibit drilling. The U.S. Chamber of Commerce is concerned about the entire program, saying that it would eliminate a million jobs, cause a 2% drop in the nation's output of goods and services, boost inflation by 2.7% and shrink business investment...
...Marshall Plan worked faster than anyone had thought possible. By 1951, Western Europe's industrial production had soared to 40% above prewar levels, and its farm output was bigger than ever. Western Europe's current status as a vigorous economic competitor of the U.S. testifies to the plan's effectiveness...
There was healthy news on other fronts. Despite the bitter winter weather, the nation's total output of goods and services was revised upward to an annual rate of 6.4% - adjusted for inflation - during the first quarter. The preliminary figure released in April - 5.2% - was some what less rosy because earlier guesstimates about the pace at which businessmen were rebuilding their inventories had been too low. Industrial production remained strong in April, rising by nearly 1%. Although housing starts, at an annual rate of 1.8 million, were down from the March level, they were still an impressive 35% ahead...
...hike prices a further 5% on July 1. But the Saudis and their allies, the United Arab Emirates, arguing that higher fuel costs would hamper the recovery of the industrialized world, raised their prices by only 5%. Today their oil, which accounts for one-third of OPEC's output, sells...
...average world price of oil to remain a couple of percentage points below the posted 10%. Now, as warm weather reduces heating-oil demand, the world oil market has softened somewhat, making price more important than ever. As a result, Saudi and Emirate sales have been soaring; Saudi output, averaging 10 million bbl. per day, has increased more than 15% since last year. A fire at an Aramco facility has temporarily crimped Saudi performance. Still, the big losers in the price competition have so far been Iran, whose production last month fell 16%. to 5.41 billion bbl., and Iraq, whose...