More figures on economy hint slowdown for US
The government released more figures pointing to a slowdown in the US economy , increasing concern that another bout of recession might lie ahead. The Federal Reserve Board reported that the rate of use in factories declined in February For the first time in seven months.
At the same time the Commerce Department issued revised figures showing that gross national product, the total value of goods and services produced, climbed less sharply in the final quarter of 1980 than it had reported earlier.
The department also said the rate of increase in corporate profits slowed to 3.1 percent in the fourth quarter of 1980 after a substantial 8.6 percent r ise in the third.