Show I FIRST SECURITY NEWSLETTER I Predict Sowing Slowing Expansion Profit Squeeze During Year Following national trends the 1 rate of expansion in Utah's economy during 1967 is expect expect- expected expected ed to be somewhat less than in 1966 and there will be consider consider- considerable I able profit squeeze I This is iR the report of First Se Se- Se Security Banks Bank's quarterly News NewsLetter NewsLetter Letter which will be distributed soon it was announced by lIar liar- old H Sargent vice president I ADDITIONAL expansion is seen in in em employment number of firms establishing plants in the state and ami production of met mets als and fertilizer materials says First Security Business in the Beehive state I I to n 1906 was seas fair fail to excellent on the particular eco ceo conic se segment ment Production of metals and of fertilizer mater mater- I was considerably higher but building materials and min I eral fuels were lower ower Like wise residential and commer- commer commercial commercial cial construction were depress depress- eel ed In total the rate of growth in employment and personal in- in income conc come equalled or exceeded the national average THE VALUE of minerals pro pro- produced c in Utah during 1966 was estimated by the thc US Bureau of Mines lines at It 1392 million a anew new record exceeding by 79 million the previous previous years year's re- re record re cord Increased value of metals more than offset decreases in mineral fuels and other non me me- tallies The Tho production of copper which accounted for 43 percent of the total value of all miner miner- minerals als produced was on a seven seven- day operating basis throughout 1966 Production was reported at tons slightly above the 1065 mark Lead and zinc production and value were both considerably above 19 1965 5 levels as were silver and gold Uran mm ium and iron ore output were both under that thal of 1965 8 on page Newsletter Continued from l page 1 VALUE OF crude oil ion fion coal salt sail and and minerals as as- as s with construction such ps sand and gravel stone gyp etc all showed slight for fOl the year 1966 1906 according to First Security's N News ws Letter the value added b bl all manufacturing in the state during the past year lar was In excess of million Es- Es Estimates s by Industrial segments Primary metals million food 10 million machinery and aDd equipment 45 million oil refining 10 million od cd metals 28 million mineral building materials 36 million miscellaneous chemicals 15 mIllion THE THE STEEL industry throughout most vf of 1960 6 operated ed edat d at very good goal levels and out out- output put was seas above abol that of 1965 The outlook is good for 1967 The outlook for a agriculture in I Utah in 67 1967 is generally good There is anticipated higher cash farm tann income especially from flom cashI I the sale of cattle lambs and wool and dalr dairy products while hile the outlook for eggs broilers and turkeys s 's is less fa favorable l Prices rices for fOl cattle lamb and wool are expected to he be higher this year yeal hut but will probably av- av av- av crage rage lower lo for poultry eggs turkeys and ami pork park because of in- in in creased supplies TOTAL CASH receipts front f farm m marketing during 1966 totaled totaled about million up i from the previous year The value of Utah crops was wase e at 84 million some sOllie 6 million higher than a year ear c earlier Total value alue was higher lot foi many products because of higher average price says the thc News Letter lion lion agricultural employ employ- employment ment in the state by mid mid-Dc comber c totaled an in in- in increase crease of over o the figure reported fur for the same time one year ago Unemployment at atthe atthe the same time was reported at dO down 11 from figure fj url Seasonally adjusted the ratio In Decem Decem- I her bel was 14 1 percent of the labor f compared with 54 per per- percent cent at the end of 1965 |