National Output Data Show Drop: Statistics Are Gloomy
2	- billion - dollar drop in | gross national" product for the! third quarter* was announced Nossiter</br></br>The decline itself was small. Total output of goods and services was estimated by the PresidentÛªs Council of Economic Advisers at a yearly rate of $503 billion compared to $505 billion in the April-June period.</br></br>But a closer look at the figuresÛÓwhich added up to the first output slump in two and a half years that couldnÛªt be traced to a strikeÛÓincreased the gloom.</br></br>After the long line of weaker business reports in September, virtually the last of the optimists are now found in the AdministrationÛªs inner circle.</br></br>Raymond J. Saulnier, chairman of the PresidentÛªs Council, told a reporter yesterday, ÛÏI do not see a basis in these figures for the recession talk that has become so widespread recently and which is, I fear, having some retarding effect on our economy.Û Û¢ Real output of goods and servicesÛÓgross national product stripped of price inflation ÛÓwas lower in the third quarter than in the first or second. The yearly pace, expressed in constant, 1959 dollars went from $495.9 billion in the Jan-uary-March period to $497.4