Word: downturn
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...outright global recession, economists concede, is still a real possibility. "The risks of a deeper, wider, more prolonged downturn have escalated," the International Monetary Fund reported in its most recent global forecast; the Commerce Department said last month that in August the trade deficit ballooned $2.2 billion, to $16.8 billion. Warning signs abound that this involves more than just collapsing Asian and Latin American markets. After years of low unemployment, a number of major U.S. companies have responded to their earnings troubles with year-end job cuts, among them Merrill Lynch (3,400), Raytheon (14,000), LSI Logic...
...mostly FORTUNE 500 execs, the mood might have best been described as resolute, reflecting a determination to make the best of what most of the attendees regard as a fast-approaching worldwide recession. A survey of 75 of the council's 300 CEOs showed that 95% expected the global downturn to have some negative effect on their earnings. More telling, 64% were planning cost-cutting measures that included less hiring, and 57% expected to reduce capital spending significantly. Yet there was a buoyant sense that the U.S. would ride it out. "I don't think the economy is capable...
Officials with the AAMC are uncertain about the cause of the recent downturn, which follows eight consecutive years of increasing medical school applicants...
...agriculture has taken a real beating from the Asian meltdown, losing billions in exports," says Baumohl. "Some farmers are not going to survive the downturn. And those who do are going to have a difficult time in the next couple of years, because it will take at least that long before Asia feels comfortable buying U.S. agricultural exports again." Paging Willie Nelson...
...which only recently completed new plants in the country, had to cut production drastically. And the future could be grimmer still, according to the International Monetary Fund, which reported at its annual assemblage of world finance ministers last week that "the risks of a deeper, wider and more prolonged downturn have escalated" throughout the developing world...