-MUCH UNCERTAINTY BUT OPTIMISTIC ON YR-END HIGHER GROWTH
-EMPL, WAGE GAINS, LOWER ENERGY,INT RATES TO SPUR DEMAND
-PRODUCTION TO RISE 'ONCE INVENTORIES BACK IN LINE'
-'GOOD PROGRESS'ADJUSTING CAR INVENTORIES;LESS ELSEWHERE
- ECON GROWTH RATE TO 'IMPROVE OVER COURSE OF THE YEAR'
-RISKS CONS CONF,CAPITAL SPDG,ENERGY COST,GROWTH ABROAD
-ECONOMY BELOW POTENTIAL,'NOT NECESSARILY IN RECESSION'