Jan 6 1974
From The Space Library
The Aerospace Industries Assn. of America, Inc., predicted "a slight decline" in sales in 1974 after a jump of more than 10% in 1973, the New York Times reported. Industry sales were expected to total $24.7 billion in 1974, 1% lower than the 1973 boom that had pulled the industry out of a five-year slump. AIA President Karl G. Harr, Jr., had said, however, that the energy crisis could bring a greater decline. Fuel shortages already had softened markets for commercial aircraft, and jet transport orders could taper off, although the Department of Defense was beginning a new generation of tactical and strategic weapons.
Aerospace industry business with the space program was expected to continue its five-year decline, dropping by about 2.7% to sales of $2.3 billion in 1974.
Profits of the industry had risen in 1973, to an average of 2.7% of sales after taxes, but employment dropped 1% to 935 000 persons in 1973, and was expected to fall to 915 000 in 1974. (Finney, NYT, 6 Jan 74)
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