U.S. Economy Stages Best Year Since '51; I nihil ion Put at 3.7%: GNP Surges 6.8% in '84; Inflation Lo
The U.S. economy turned in one of its best post-World War II performances last year, with a strong expansion accompanied by low inflation, the Commerce Department reported yesterday.</br></br>The department said the nationÛªs gross national productÛÓthe measure of output in goods and servicesÛÓgrew 6.8 percent while inflation, as measured by changes in prices and type of output, was put at 3.7 percent, compared with 3.8 percent in 1983 and 6.0 percent in 1982.</br></br>The GNP increase was the sharpest since 1951, and the inflation rate was the best since 1967, the department said.</br></br>out of its mid-year slump and will be stronger than expected in 1985, with continued moderate inflation.</br></br>ÛÏIf this were almost any other country in the world, the economic performance of the United States would be termed a miracle,Û said White House spokesman Larry Speakes. ÛÏIndeed, it has been impressive.Û