Friday, February 21, 1975

THE MICHIGAN DAILY

Gov't. says inflation higher
r'than originally announced

Page Three

By The Associated Press
A Commerce Department re-
port on the Gross National Pro-
duct indicated yesterday that
inflation was worse than orig-
inally estimated during the last
quarter of 1974. But other gov-
ernment and industry state-
ments on economic develop-
ments provided hope for the
future.E
The Labor Department said
that 731,000 persons filed new
claims for unemployment com-
pensation in the week ended
Feb. 8, a decrease of 16,600
from the previous week.
THEDEPARTMENT
also said, however, that more
than 5.7 million Americans
were collecting unemployment
in the week ended Feb. 1, an in-
crease of 138,000 from the pre-
vious week. The national un-
employment rate was 8.2 per
cent in January, with more
than 7.5 million persons out of
work.
THE MICHIGAN DAILY
Volume LXXXV, No. 119
Friday, February 21, 1975
Is edited and managed by students
at the University of Michigan. News
phone 764-0562. Second class postage

One measure of inflation is
used by the Commerce Depart-
ment in connection with the
Gross National Product - the
total output of the nation's
economy. That index includes
things such as raw materials
for manufacturing that are not
covered by the Consumer Price
Index.
The Commerce Department
originally estimated inflation
at an annual rate of 13.7 per
cent during the last three
months of 1974. Yesterday,
however, the department said
revised figures showed an ac-
tual annual inflation rate of
14.4 per cent during the period.!

THE DEPARTMENT!
increased its estimate of the
fourth - quarter dollar value of
the Gross National Product -
the total output of the nation's
economy - by $600 million. }
But because of the adjust-
ment in the GNP figures on in-
flation, the fourth-quarter rate
of decline in the GNP remained
unchanged from previous es-
timates of 9.1 per cent on an
annual basis.
There have been several indi-
cations recently that the pace
of inflation may be slowing.
Wholesale prices declined three-
tenths of a per cent in Janu-
ary, the second straight month-
ly decrease.

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i

AP Photo
A Vietnamese youngster observes a damaged bridge blown up by rebel saboteurs on a na-
tional highway ten miles north of Saigon. The bridge sustained 50 per cent damage and the
traffic flow was halted.

Rebels shell Saigor


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SAIGON, South Vietnam 0P)
- North Vietnamese and re-
bel forces stepped up attacks
near Saigon and in the Mekong
Delta yesterday, shelling popu-
lation centers, blowing up
bridges and striking at a re-
gional headquarters of the in-
ternational peacekeeping force,
the Saigon command said.
More than 60 persons, most-
ly civilians, were reported
killed or wounded in the as-
saults.
THE COMMAND said rebel
explosives experts slipped into:
the compound of the Interna-'

tional Commission of Contri
and Supervision's regional sit
at My Tho, 35 miles southwes
of Saigon, and blew up a wate
purification plant, a warehous
and a fuel storage and vehicl
maintenance facility. A Sout
Vietnamese security guar
was reported wounded.
In Saigon, police clashed wit
demonstrators protesting th
shutdown of five oppositio
newspapers and the arrest t
newsmen.
Witnesses said police roughe
up the demonstrators, thre

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