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Conversation 042-031

TapeTape 42StartTuesday, April 13, 1971 at 3:53 PMEndTuesday, April 13, 1971 at 3:54 PMTape start time00:31:25Tape end time00:32:19ParticipantsNixon, Richard M. (President);  Shultz, George P.Recording deviceWhite House Telephone
AI Summary

President Nixon and George Shultz reviewed the first-quarter Gross National Product (GNP) data, noting a record increase of $28.5 billion. Although the figure fell slightly short of an aspirational $30 billion target, it significantly exceeded private sector forecasts, including those by Otto Eckstein. The two agreed on the positive nature of the report and confirmed that the findings would be officially announced by the end of the week.

Gross National ProductEconomic forecastingOtto EcksteinEconomic performancePublic relations
AudioNARA Description

On April 13, 1971, President Richard M. Nixon and George P. Shultz talked on the telephone from 3:53 pm to 3:54 pm. The White House Telephone taping system captured this recording, which is known as Conversation 042-031 of the White House Tapes.

Nixon Library Finding Aid
Conversation No. 42-31

Date: April 13, 1971
Time: 3:53 pm - 3:54 pm
Location: White House Telephone

George P. Shultz talked with the President.

[See Conversation No. 247-4B]

     Gross National Product [GNP]
          -First quarter increase
                -Record
          -Otto Eckstein
          -Announcement
Transcript (AI-Generated)

This transcript was generated automatically by AI and has not been reviewed for accuracy. Do not cite this transcript as authoritative. Consult the Finding Aid above for verified information.

Yeah.
Mr. President, Mr. George Shultz.
Yeah.
All right.
There you are.
Hello.
Mr. President, that first quarter increase is $28.5 billion.
So we didn't quite get up to the 30 number.
That's not bad.
But we're still at a record increase.
That's a record.
Way above the Eckstein.
Eckstein predicted 22.
The forecast, 22, the highest around of the private sector.
prognosticators has been around 27, so the highest of the prognosticators was 27, and it's long in that line, so we're higher than that.
It came in higher than that, although you would hope 30 or something a little higher.
Yeah.
Well, that's pretty good.
That's all right.
That will probably be announced on Friday, possibly tomorrow, but I think Friday.
Good.
Good, George.
All right.
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