Word: cleanout
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Dates: during 1980-1989
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Even the gloomiest figures, though, now offer some paradoxical cheer. The fourth-quarter dive in G.N.P. resulted largely from a cleanout of inventories of unsold goods, especially cars. That puts business in a position to raise production sharply and rehire workers once final sales turn up, as auto sales already have. Housing starts last year, at 1,061,000, were the fewest since 1946. But the monthly rate, even after a December setback, has jumped 43% from its October 1981 low. Further increases are likely because of a sharp drop in mortgage interest rates that also was the primary force...