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Show Utah Economy Rated Good for 3rd Quarter Business in Utah by the end of the third quarter of the year was rated good lo fair depending upon the economic ec-onomic segment, and the outlook for the fourth quarter quar-ter is about the same. This is the report of the First Security Bank News Letter being distributed this week, it was announced by Robert Dalton, Manager of the Moab First Security branch. According to First Security, Secur-ity, production and employment employ-ment as well as personal ir-enme ir-enme are all considerably above 1968 levels, but the rate of increase over last year is below the national average. Some slowdown from th? pace earlier in the year is anticipated during the 4ti quarter, and most seriously effected will be the construction construc-tion industry which has shown substantial decreases throughout the first throe quarters. Trade, however, is approximately five per cent above year-ago levels. Mineral production in Utah during 1969 should easily exceed ex-ceed the total of 1963, both in quantity and value, reported report-ed First Security. Copper production during the third quarter exceeded 25.000 tons a month and operations op-erations were at optimum levels, while lead and zinc, production are both considerably consid-erably above output of lat year. Copper prices increased increas-ed from 46 Vi cents a pound in June to 52U cents in Oc-lober, Oc-lober, and lead and zinc prices by October were 15V cents, up 2l2 cents for lead and 2 cents for zinc from 1968. Gold production, reported for the first half of the year at 203.416 ounces, was considerably con-siderably above last year, as was production of silver. Silver Sil-ver prices, at $1.87 per z., were up from June, but slightly bel:w last year. A considerable increase in the demand for industrial silver has occurred, but a decrease in coinage use of the metal has also occurred. Steel production, report the News Letter, was almost at capacity levels through '' September in terms,. of ingot outpat. Some decrease ir ; steel demand nationally is anticipated, however, be- cause of slowdown in capi'oij goods expenditures. I Cash receipts from farm I marketing in the state should x easily exceed the $197 mil- j lion reported for 1968. For the first six months receipts were up seven per cent and c'o?pite some decreases since June, average prices for both crops and livestock in the fourth quarter should be above "levels of one year ago. Fed and feeder cattle prices pric-es have declined since th'j peaks in June, but should average av-erage about the same as September levels for the ma jor marketing period. Lamb prices are considerably higher high-er and should hold to present levels due principally to Lie rlecrcased quantity available-Production available-Production of most crops in the state is above year-ago year-ago levels, with the excep-i iion of wheat and tomatoes, while all fruit production? was higher. f Construction contracts aw? arded for the first seven months totaled $135 million.! some 8.7 per cent below last! year, reflecting some slow-j down in public contracts.! Commercial construction wasj also below that of 1968. f The total labor force In Utah in September was 430,-300, 430,-300, an increase of almost 7,000. Increases were shown iri trade, finance, and all cat-epories cat-epories of service industries Unemployment in September was reported at 18,300, an' increase of 1.400 in the veat. ' |