The Daily Collegian Thursday, Sept. 22, 1983 Assembly endorses advising system By ANITA YESHO Collegian Staff Writer .The Undergraduate Student Government's Academic Assem bly last night endorsed the Divi sion of Undergraduate Studies' proposal for a revised pre-major advising system. Harvey W. Wall, director of DUS, explained to the assembly that the advising system would provide freshmen who have not yet declared a major with access to professional advisers who are familiar with courses in many colleges. Faculty members would act as consultants to the,program and provide specialized informa tion when needed. Once students declare a major they would be assigned a faculty adviser in that field, Wall said. Faculty involvement in the new program is necessary for its suc cess, Wall said. "The thing won't work if (the) faculty doesn't cooperate," he said. James J. Kelly, academic advis ing committee member, said the proposal would benefit both stu dents and faculty. 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"As a poorly advised student, I would like to see something done," said Frank Pogue, assembly pres ident. If each college has to fund its own advising program, the chances of the proposal being im plemented are small, said Tom Thompson, assembly representa tive from the College of Engi neering. Bill Geise, assembly representa tive from the College of Agricul ture, said the "theory is extremely good," but he has doubts about the practicality of the plan. In other business, the assembly discussed the possibility of reviv ing its semester hotline to answer students' questions about the cal endar conversion and refer them to the proper authorities. o`~ Economy slows but remains strong By PAULINE JELINEK Associated Press Writer WASHINGTON The government estimated yesterday that the econ omy is growing 'at a strong 7 percent annual rate in the third quarter, a slowdown from what analysts say was an unsustainable burst of busi ness activity in the spring. "We want solid and steady econom ic expansion," said Treasury Secre tary Donald T. Regan, "and we are getting it." Martin Feldstein, the president's chief economic adviser, called the report "very good." "We're really on track and a track that I think can be sustained," he said. "The odds are quite high of the recovery continuing at a reasonable pace, a pace consistent with falling unemployment" for the next 18 months. As a result of the fresh figures, Feldstein predicted that the economy would grow about 6.5 percent this year, better than the 5.5 percent the administration had forecast as re cently as July. At the White House, presidential spokesman Larry Speakes said, "We're on a path of economic vitality that we can sustain." The Comtherce Department said in its preliminary "flash" estimate for the still-unfinished July-September, quarter that the growth as mea sured by the inflation-adjusted gross •••••••••••• • • • • • • • • • ••• • • • 0 0 • • • • • • • • • • 0 ar • • • • • • • • • • • • • •59t n n v.e r a r • _ _ . • • ••••• • • • • ••• Y• 111 49.99 Reg. $7O Junior's Wide Wale Corduroy Blazers Save $2O now on our sporty corduroy blazers with suede elbow patches, two • slash pockets, and leather look buttons. In navy, sand, grey, and burgandy. 5-13. All Stores 10.99 Reg. $l5 Save Over 25°/0 on Men's Turtlenecks Layer our JockeY - turtlenecks under all your wool shetlands, shirts, and sportcoats for an added layer of warmth in 100% cotton. Banded cuffs and neck in sizes S,M,L,XL. State College, Nittany Mall. days 10-5 • • • • WSW I 11111111111111111 national product will come from , the building of inventories by busi ness firms and from final sales, which covers all buying by consum ers and business. , And it revised upward for the third time its assessment of growth during the booming second quarter. It said GNP, the total value of goods and services, expanded at an annual rate of 9.7 percent in the April- June period rather than the 9.2 per cent estimated last month, the 8.7 estimated in July and the 6.6 pre dicted in its June "flash." As he has often done, Commerce Secretary Malcolm Baldrige said the foreign trade imbalance continues to be a trouble spot for the economy, with imports rising as the high cost of the dollar overseas is holding down exports Baldrige said with the additional, though slower, growth predicted in GNP this quarter, the value of the nation's output will be at an all-time high. The expansion since the recov ery started late last year has more than made up for the drop of 1981-1982 recession and put GNP 1.7 percent above the previous peak reached in the third quarter of 1981. GNP fell 1.9 percent in 1982 and rose• 2.6 percent in the first three months of this year before posting the rapid second-quarter gain. Although the spring spurt in activ ity was welcomed as the economy was pulling dut of the recession, ••••• • • • • ••••••• • • • • • • • • • •• • • • • • • • ••• • • 18.99 Reg. $2B Men's Magic Stretch Haggar ) Slacks Constructed with woven, easy care fabric that gives when you bend for that famous Haggar fit that keeps you feeling as good as you look. In a variety of colors. State Col lege, Nittany Mall. 8.99 Reg. $l2 Save 25% on Men's Plaid Sportshirts Country plaid sportshirts can assume casual or dressy airs. Featuring one chest pocket, shirt tail hem, and two styles of collars. Po ly/cotton in S,M,L,XL. State College, Nittany Mall 114 MMM • • • • • • many economists have said growth at such a clip was not sustainable not to mention undesirable because of the threat that it could rekindle inflation. Economists have said that a num ber of other recent reports on sales, production and other areas have shown the awaited and inevitable slowdown was beginning in the third quarter. Though many economists had ex pected the figure reported yesterday, Jerry Jasinowksi, chief economist for the National Association of Manufac turers, predicted that the final report for the quarter will show growth closer to 8 percent because retail and auto sales will pick up this month. But Michael Evans of Evans Eco nomics Inc. predicted it will be much lower than Commerce is estimating at about 5 percent. "I think these guys screwed up," he said. "They'are saying there is going to be a rebound in sales and inventory in September, and I don't believe it." He noted a report Tuesday showing a decline in personal consumption spending during August, saying that even an expected increase in invest ment spending during the quarter will not be enough to boost the overall growth to 7 percent. Adjusting for inflation, the depart ment said, the economy is expected to grow to an annual rate of $1.55 trillion from $1.52 trillion in the second quar ter. Before such adjustment, the third- Now at Danks Our Very Best for Fall 1983 is on Sale at low, low Anniversary Sale Prices! quarter estimates are for 10.5 percent growth to an annual rate of $3.35 trillion compared with 13.3 percent and a rate of $3.27 trillion of the second quarter, the report said. It gave these details on the upward revision for April-June quarter: —Real, or inflation-adjusted GNP increased $35 billion instead of the $33.3 billion estimated last month. That compares with a 2.6 percent, of $9.4 billion, gain in the first three month's of the year. —The growth came from a 6.8 percent increase in final sales com pared with a 0.6 percent gain in the first quarter, and a slowing in liqui dation of inventories, which showed a $5.4 billiOn decrease in the second quarter after a $15.4 billion decrease in the first. In other economic developments yesterday: —The stock market slipped from its record peak of the day before. The Dow Jones average of 30 industrial stocks, which had risen more than 34 points over the previous three ses sions, fell 5.90 points to 1,243.29. Inter est rates rose moderately and bond prices fell. —American Telephone & Tele graph Co. said it would ask federal regulators to approve long-distance rate reductions of $1.75 billion a year, the largest cut in telecommunications, history. 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