Page 2-Wednesday, July 9, 1980-The Michigan Daily
Wholesale prices up
last month despite
drop in energy costs
WASHINGTON (AP) - The gover- companies and non-banking financial
nment's gauge of wholesale prices rose institutions, surveyed while interest
in June despite a rare drop in the cost of rates were declining sharply, said they
energy. But the rate of inflation at the expected improved prospects for their
wholesale level fell by two-thirds from own industries during the next six mon-
the first quarter of the year to the ths.
An upturn in wholesale food prices The Labor Department said yester-
during the month foreshadowed further day that its Producer Price Index for
increases at the consumer level later June increased 0.8 per cent from May
this yesar. - more than in the previous two mon-
IN RELATED news, business ths but far below first-quarter levels.
leaders' confidence in the nation's While energy prices showed their first
economy fell to a record low in the drop since March 1978- 0.6 per cent -
second quarter this year, a business- the index for consumer goods other
funded research group reported than food and energy soared by 1.1 per
The Conference Board said its If the price of wholesale, or finished
Measure of Business Confidence fell to goods rose for a full year at the June
29 in the second quarter, down from 40 rate, it would produce an annual in-
in the first three months of the year. crease of 9.9 per cent. Prices rose at a
The barometer of top-executive sen- 12.4 per cent level over the first six
timent stood at 41 in the second quarter months of 1980, about the same as the
last year. - same perioda year ago.
Executives in transportation in. But the most dramatic change was
dustries, particularly those with from the first quarter of the year to the
airlines and railroads, and in such second. Fed by skyrocketing prices for
manufacturing industries as textiles, fuel and food, wholesale prices rose in
apparel, machinery, primary metals the January-March period at an annual
and transportation equipment were rate of 18.9 per cent. The second-
gloomiest about business conditions. quarter increase was a comparatively
BUT OFFICIALS of banks, insurance mild 6.3 per cent.
Ifyo e news happen, call 76-flAILY
Ties tell all
You are seated at a table in an English pub, considering entering into a
friendly game of darts, when a British barmaid begins walking in your
direction. Your first instinct is to tighten the knot of your paisley-patterned
tie and quickly brush the hair off your brow. She approaches, and before you
can utter a word, she says, "Whiskey, I presume?" Chances are her guess
was right on the money. The barmaids of Great Britain claim they know
what you'll want to drink simply by noticing the tie you wear, according to
the British Tie Manufacturers Association. For example: A silver or grey tie
means gin and tonic; spots indicate draught lager; red-tie men drink
brandy; and, green tie wearers order vodka and tonic. The British often
wear club, school or regimental ties and these, too, work as well as wearing
a sign around your neck, the barmaids reported ina survey. Wonder if a non-
tie wearer indicates a teetotaler? E
On the outside
Summer comes into full blossom today, with mostly clear skies and a high
temperature in the mid 80s. Whit more could you ask for? Q
AAFC-Luana, 7, 8p.m., Aud. A, Angell.
CEW-Re-entry '80 Brown Bag lunch for women who have recently
returned to school or are planning to do so. Noon, 330 Thompson.
Rudrananda Ashram-Intermediate Hatha Yoga,7?30 p.m., 640 Oxford.
Spartacus Youth League-"Communist Work in the Trade Union," 7:30
p.m., Michigan Union, Welker Room.
Michigan Repertory '80-The Intrada Wind Quintet, 7:15 p.m., Power
Michigan Repertory '80-"A Midsummer Night's Dream," 8p.m., Power
RC/Brecht Co.-"The Resistable Rise of Arturo Ui," 8 p.m., Residential
University Musical Society-The Borodin Trio, 8:30 p.m., Rackham Aud.
Department of Recreatiotlal Sports-Third Annual Red Cross Swim-A-
Cross, 3:30-6:30 p.m., NCRB pool.
WUOM-Life and work of British songstress Gracie Fields is reviewed, 10
p.m., 91.7 FM.
The Michigan Daily
Volume XC, No. 34-S
Wednesday, July 9,1980
The Michigan Daily is edited and managed by students at the University
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Editors-in-Chief .......... TOM MIRGA Business Manager. . ..........
HOWARD WITT 'ROSEMARY WICKOWSKI
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