BUSINESS Consumers Cautious Despite Rise in Income
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ZO — MANCHESTER HERALD, Saturday, Aug. 18, 1984 BUSINESS SIx-year-old rescues Trevino proves Enterprise zone Consumers cautious despite rise in income mother from drowning he can stiii win gets state kudos ... page 4 By Dennis G. Gulino incomes remain strong. comparison, spending had June. department analyst said. an annual $3,027 trillion based on ... page 11 ... page 20 United Press International July income was up nearly as steamed ahead 1.2 percent in May. That was more than the im The latest report agreed with an July figures. much as the 0.9 percent jump in Consumers may no longer be provement in farm incomes, of $3.6 earlier measure of retail sales for Disposable income, equivalent W ASHINGTON - The nation’s June and far more than May's making up for spending opportuni billion, a second month of income the month that found spending on to take-home pay after taxes, also personal income, buoyed by new anemic 0.4 percent rise, the ties lost during the recession, the growth. heavy duty goods, from cars to went up 0.8 percent, or by ^ 9 to jobs, climbed a healthy 0.8 percent department said. department's chief economist, fto- With income still fairly strong appliances, actually was less. what would be a $10,928 annual in July but consumers were more bert Ortner, said. but spending slow, the savings rate income for every American. cautious for a second month, White House spokesman Larry "Perhaps consumers are finally in July climbed to 6.1 percent. But it disagreed in the case of Spending had been up a strong spending less on cars and applian Speakes said the personal income catching up with their pent up White not as high as the 6.8 percent non-durable goods, from tooth 1.2 percent in May before leveling ces, the government said Friday. figures indicate "a steady growth, demand,” he said, "and are finally in March it was more than June’s paste to paper, showing those off to a 0.4 percent increase in Cool tonight; Manchester, Conn. as we wish, for the economy, and it beginning to pay a little more 5.6 percent of disposable income. purchases increased while the June. sunny Tuesday Monday, Aug. 20, 1984 The latest Commerce Depart doesn't show any evidence of attention to the savings Americans spent $5 billion less, sales report had them declining. ment figures, and earlier reports overheating," incentives.” at an annual rate, on durable goods All figures were seasonally Increased savings in July, the — see page 2 Single copy: 25<J on retail sales and production, Personal spending on both mer One of the biggest savings in July than in the month before, adjusted. figures showed, would be equival showed consumers are exercising chandise and services was up only incentives is the interest income, the department reported. Of the Personal income, a broad mea ent to not spending an extra $54 a iianrliPHtfr Mmlft a little more caution at the cash 0.3 percent in July, even less than which amounted to a $5.8 billion overall decline, $1.6 billion less sure of earnings before taxes are year, making the annual per capita register although employment and the weak 0.4 percent in June. By increase in July, the same as in was spent on automobiles, a withheld, increased $24.4 billion to savings figure $665. Fare war hurts airlines in stock trading Hurricane Poll buoys in B rief By Frank W. Slusser Advances topped declines 775-694 On the trading floor. Home Depot, United Press International among the 1,%1 issues traded. which projected flat second-quarter The Big Board volume of 71,500,000 earnings, was the most active N YSE- NEW YOR K - The stock market listed issue, down 6Vi to 16‘/>. Home 2 Rogers makes lab donation withstood profit taking to register a shares, down from the93,610,000 traded Thursday, was the slowest since Depot said the outlook for the rest of the G O P mood small gain Friday in the slowest Rogers Corp. has donated $1,500 to the Plastics 65,881,600 changed hands July 6. year was better. threatens Engineerig Department at the University of trading in six weeks. Financial Corp. of America, which Bv Laurence McQuillan Lowell in Lowell, Mass., to help renovate a Airline stocks came under pressure "The lack of volume is typical of the molding press for the department's new ther summer season and is consistent with plunged 3Y< the previous three ses United Press International as a fare war, triggered by People sions, was second, up */• to 4V«. The Related stories moset laboratory. Express's low-cost entry into new the argument that investors are taking The laboratory is used to teach students how to a more pragmatic look at the scene now company’s American Savings & Loan DALLAS — The Republicans on page 5 routes, escalated and threatened unit is having financial problems. mold plastics into components for the electronics, earnings. than they did two weeks ago,” said opened the 1984 GOP National secret isle Convention today buoyed by a new automotive, business equipment and electrical Hugh Johnson of First Albany. American Express was the third 8 industries. The Dow Jones industrial average poll showing President Reagan The mood of the assembly, The American Stock Exchange index most active issue, up to 31>A. 0 "We believe it is important for business and managed to gain 2.76 to 1,211.90. The Financial Corp. of America holds a 4.9 By Ron Todt the island with 45-foot waves and and Vice President George Bush already festive, became even Dow lost 6.19 for the week overall, added 0.47 to 207.76 and the price of an solidly in front of the Mondale- more optimistic with the release of industry to support educational facilities," said average share rose three cents. Advan percent stake in Amexco. United Press International 150 mph winds, forcing the evacua Walter A. Hayes Jr., manager of Rogers' Molding however. tion of 580 people to Honolulu. A Ferraro Democratic ticket. a Time magazine poll Sunday night ces topped declines 265-260 among the On the Amex, Western Digital led the Materials Division in Manchester. HONOLULU — Hurricane Keli U.S. Pacific Command spokesman With a cheer from the 2,235 showing the GOP ticket with a solid The New York Stock Exchange index 777 issues traded. Composite volume actives, up Vi to lOVt. Galaxy Oil delegates. Republican National lead over the Democrats — 45 The division produces thermoset molding rose 0.19 to 94.42 and the price of an totaled 6,499,955 shares, down from SLIGHT GAIN pushed its 140-mph winds within said at the time it was apparently compounds at its Manchester plant. followed, up V$ to 3. Matrix Corp. was Chairman Frank Fahrenkopf percent to 31 percent. average share increased six cents. 7,334,800 Thursday, third, up V« to 24’/«. ... Dow Jones up 2.76 Friday 100 miles of remote Johnston the first time a major top-secret Island today, forcing civilians and U.S. base was left unguarded. banged a huge gavel and called the Despite Ms. Ferraro's presence military personnel to evacuate and "This is the second time,” convention to order at exactly 10 on the ticket, the Reagan-Bush leave the high-security military McGrath said. a.m. C D T for a largely ceremonial ticket even led among women, who Buried Under moves Laws push outpost unguarded. Of those evacuated this time, 110 two-hour session. favored the GOP 41 percent to 32 Barkeeps The 37^ people were flown from were members of the Arm y Drawing on family tradition, the percent. Buried Under Paperbacks & Comics has moved Girl Scouts presented.the colors to The party’s 106-member plat from 39 Purnell Place to 188 W. Middle Turnpike. Johnston, which is used for storing Western Command’s 267th Chemi nerve gas, to Honolulu 715 miles to cal Company assigned to guard the the convention and Miss Texas form committee today officially The move was made to accommodate the comic Maine clam 1984, Tamara Hcxt, sang the votes to submit its 68-page report book portion of the business which was previously replacing the southwest. weapons and 221 were civilians At 5 a.m. (Hawaii time) the employed by Holmes and Narver, National Anthem. to the 2.235 delegates for a located in the basement at 39 Purnell Place, said A second session, at 8 p.m. C D T approval. The document serves as Chuck Binder, a partner in the business. Since the National Weather Service re which maintains the facilities on session, was to feature speeches by a blueprint of party goals and comics were on a different floor than the books, prices up specials ported the storm center 100 miles the island. U.N. Ambassador Jeane Kirkpa hopes — which the conservatives the comic section sometimes had to be closed south of the island, with winds of Also carried to safety were trick and Senate Republican who drafted it want to use for because people could not be found to staff the 115 mph, gusting to 140 mph. employees of the U.S. Fish and leader Howard Baker and the realigning the nation’s body room, he said. AUGUSTA, Maine (U PI) - A S P R IN G FIE LD , Mass. (UPI) - Bar Forecaster Clarence Lee said Wildlife Service, the National growing appetite for clams and laws keynote address by U.S. Treasurer politik. Since moving to West Middle Turnpike, Bruder and restaurant owners Friday eyed Keli "should pass within 50 miles of Oceanic and Atmospheric Admin restricting diggers from harvesting Katherine Ortega.