Farm Outlook

Economic activity in the U.S. leveled off during the first 5 months of 1967, after advancing steadily for 6 years. Gross National Product (current dollar value of the nation's output of goods and services) for January-March was at an annual rate of $764 billion - up only 1/2 percent from the previous quarter. When adjusted for the rise in price level, real GNP was down slightly.