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THE Mull EXAMINER THURSDAY JANUARY no How Far How Fast Will It Go OTTAWA CP No ques tions hang over the current eeo oomic recovery in Canadahow last and how or will it go Aiter nearly nine months or slow growth most year cod Iorecasts are tor somewhat taster pickup in 1961 nurtured by the evident revival oi the United States economy government report predicts significant further salon in output and employment Some economists ioresee eon tinned growth to the end of 1962 perhaps into 1063 But major question re mains Will it provide enough new Jobs to make eiubla dent in unemployment Economic recovery in 1001 was less vigorous than in the US welliniormed oillclal said the riso in Gross National Product will likely tall short oi the threeperccnt gain that Fi nance Minister Fleming in his June 20 budget indicated would occur without the stimulus of his budget measures DROUGHT HITS GNP Despite strong 27perccnt growth in national product dur ing the third quarter to on an nuoi rate of 337301000000 the tptai output in the iirst nine months at the your averaged just under 036500000000 due to ilrstouarter slump Although an overall gain ot three per cent in national prod uct to about s37000000000 is conceivable tho iinul iigure is Ilkely to be up only about two per cent to around $36700000 000 or 836300000000 This compares with gains of per cent in 1900 when na tional product was just under 336000000000 and 61 per cent In 1959 The country had one EIA pecially hard knock sharp drop in drought hit Prairie grain crops which chopped some $400000000 from the national output However the year saw some headway in whittling down un employment Jobless totals in August finally dropped below 1960 levels after 12 consecutive months in which unemployment was at postwar record highs Since April the number at per sons with jobs has been about 100000 higher each month than year earlier DOLLAR DISCOUNTED The index of industrial pro duction representing about 80 per cent of national product rose nearly three per cant be tween tha iirst and second quar ters From the low point in March it rose six per cent to the end oi September Main goals oi the June budlt gfit were reduction in the ox unga value at the dollarto boost export earnings and dis courage importsand decline In interest rates Lower interest rates were aimed at stimulating business activity and discouraging in flows of short term capital which had helped keep the d01 Iars exchange value up The margin between Cann dinn and us interest rates was reduced and the Canadian dollar exchange rate dropped from parity with the US dollar to discount of about our per ocnt National Housing Act interest gates were reduced in Septem er to help maintain 1951s in creased rata oi househuiiding INVESTMENT PICKS UP Capital investment by busi css showed signs of recovery the third quarter But for the rst nine months at the year as whole expenditures for new lant and equipment were down va per cent Some economists are looking to an indicated rise in US capital investment to spill over into Canada However there still is ample productive ca pacity in most industries to meet moderate rise in de mand Exports were one of the main expansive forces in the econ omy They rose 62 per cent in the first nine and showed promising Isaper cant gain in the third quarter year earlier government report refer ring to prospects of economic grow said much depends on the behavior of consumers Consumer spending hasnt been vigorous Until an August jump caused by lastminute buying before the Sept start of On tarios saiesltax retail sales had shown virtually no gain from 1960 INCOME HIGHER But there is more purchasing war it Canadians want to use Labor income rose 42 per cent from January to Septem ber Savings accounts in banks more than 37500000000 at the end of Novemberwere up $375000000 from year earlier Consumer debt rose too how ever At Sept 30 total at 83765000000 was owed to it nance and smallloan compan ies furniture appliance and department stores and char tered banks This was month rise at $216000000 and almost all at the increase was in personal loans from banks Living costs remained stable or most or the year holi point rise in the consumer price index during October to 1207 on Nov put it shade above the previous peak of 1290 year earlier While other concerns are lost selling leitovar stock Adams want out and actually bought out manufactures surplus stockl Adams bought from famous makers in every lina of furniture home furnishings molar and small appliances in quantity so we could give you real specials SAVEoSO NO MONEY DOWN UP TO YEARS TO PAY RETAIL SALES TAX PAYABLE Al TIME OF PURCHASE YOU MAY PAY ON WEEKLY 0R MONTHLY TERMS PLATFORM ROCKERS Upholstered in attractive SALE covers Choice of colors PRICE Reg 3995 995 HOSTESS CHAIRS Upholstered in attractive covers Choice of colors SALE PRICE Reg 1695 BOOKCASES Walnut finish with folmica top and sides sliding glass doors bray tapped Sm 1° PRICE Reg 3995 TRIPLE DRESSER BEDROOM SUIT Camistltng of EA dresser with oversized adjustable mm at 23 95 46 0358 tonal walnut finish Rog 26995 AMI BUYS MANUFACTURERS SURPLUS stocII Exclusive Coffield Wringer Washer Equipped with Lovell wring er Features porcelain eoA emailed tub holds 9pound dry load Plastic agitator Plus adjustable once on twin roller two eaatorl nine drain tun 995 ONLY would PC CHESTERFIELD SUITES with reversible ioam cushlt ions in attnactivo decorator covers sALc Rog 17995 amen 139 RADIOPHONO COMBINATION Kiwi Stereo speed auto matic record changer AM radio console mode twin speakers solid wood cab inet walnut finish Reg 16995 315R AND COFFEE TABLES Wifll arboribe tops and brass tipped legs your dsoiceatohis low price Reg 1295 SALE Pawn 12 cu Rig1927 REFRIGERATOR ilhe supersize in the Regent line Foa tures fullwidth 50th freezer le chiller nay twincrispers with gins shelves obromeplated shelm re movable egg rocks at eggs ONLY 250 WEEKLY PC DAVENPORT SUITES Spring filled construction bramotiva colon Reg 14995 CONTINENTAL BEDS 22o ooii smooth top mat and matching box swing Plus headboard Reg 6995