Word: annuals
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Dates: during 1960-1969
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...Cure. Largely because spending remains robust, the nation's gross national product is surpassing expectations. In the third quarter, the total output of goods and services reached an annual rate of $870.8 billion, a $17.9 billion increase just slightly less than the $21 billion average rise of the first two quarters. Unfortunately, almost half the increase is not "real"; it represents only further inflation of the dollar...
According to Council Vice Chairman Ralph Lazarus, president of Federated Department Stores, the economists believe that to tame inflation from its cur rent 4½% annual rate to a manageable 2%, a new Administration may have to "extend and intensify" its braking pressure. For how long? Possibly for one or two years, during which profits would suffer and unemployment would rise from its current 15-year low of 3½% to 4½% or even 5½%. That price, said Lazarus, might be "neither politically wise nor socially acceptable...
...beginning to subside-and the money has started to go the other way. Partly because of balance of payments considerations and partly because European laws and work practices are discouraging some U.S. companies, new U.S. investment in Europe this year will run about 4% under the prevailing $3 billion annual rate, and may slide even farther next year. Meanwhile, the value of European-owned plants and equipment on U.S. soil is rising sharply. The total crept up from $2.2 billion in 1950 to $7 billion last year, will sprint to $10 billion this year. That may be only the beginning...
South House jocks took first place in the annual Radcliffe Swimming Marathon last week with a sweeping win over East and North Houses...
...Harvard lightweight crews rowed to victory yesterday in the fourth annual Head of the Charles Regatta...