The 1983 Economic Recovery And Measures Of Structural Change In The U.S. Economy And Mining Industry

The last issue included a discussion of recent indications of a 1983 recovery and a brief analysis of the contribution of the U.S. mining industry to the gross national product (GNP). In this issue we present sales and other data indicating the strength of the 1983 recovery and quantitatively analyze the structural shifts that have taken place in the U.S. economy and mining industry since 1972, and changes in electricity consumption by the mining industry. U.S. Economic Recovery The tentativeness in the February/March issue of Minerals and Materials regarding the strength and sustainability of the U.S. economic recovery can now be replaced with a note of increased confidence. Real growth of GNP on an annual basis in the first quarter of 1983 was 2.5 percent, compared with 1.4 percent predicted in the Economic Report of the President.1/ Preliminary second-quarter 1983 data provide further cause for optimism. Recently released data indicate that consumer spending is playing a key role in the recovery. Retail sales have increased significantly across a wide array of goods, especially consumer durables, where sales increased 4 percent from March to April (table J) and were 12 percent higher in April [ ] than the 1982 monthly average. Consumer durable sales were led by sales of building materials spurred by the growth in residential construction, motor vehicles and parts, and household durables, including appliances and furniture.