Productivity signals an inflation slowdown.

The article reports on the economic condition in the U.S. from August 25 to 29, 1975. The pace of new orders at the machine-tool industry is running 43 percent below shipments. The fragile debt economy in the states forces the Federal Reserve Board to put reserves into the banking system. It is considered that the report on the nation's continuing surplus marks an improved competitive position of the states exports.