Word: downturn
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...materials, and money supply. They feel that they now have a much more reliable measure. One bit of evidence: had it been available in time, the new index would have begun foretelling the recession three months before it began in November, 1973, and it would have confirmed the downturn convincingly throughout 1974. Although the old index began dropping two months before the recession, it misleadingly turned up again for seven months...
...same time, the arrival of the worst economic downturn since the 1930s has been particularly hard on working women. Eleanor Holmes Norton, chairman of New York City's Commission on Human Rights, voices a typical concern that "layoffs stemming from the recession could wipe out all the women's gains of the past five years...
...peak. Copper, for example, rose nearly 300% in 17 months, peaking at $1.40 per Ib. a year ago; this month the price fell as low as 560. The roller-coaster performance took its toll on producers and consumers alike. The price upswing aggravated inflation in industrialized countries. The downturn sent shock waves through the nonindustrialized Third World nations, some of whom depend heavily on commodities production for income, and added to pressures for OPEC-style cartels for raw materials other than...
What Congress did not foresee was the downturn in the U.S. economy. The developers have been painfully squeezed between spiraling building costs on one side and dwindling mortgage-money supplies on the other. Making matters worse, many developers were so anxious to try out their brave new ideas that they lost sight of marketing realities. To take only one example, Riverton, ten miles from Rochester, N.Y., built town houses in tight clusters surrounded by open space. But would-be home buyers in the area were not impressed by this good planning precept; they wanted separate houses with spacious yards. Says...
...Board of Economists: "To argue that Fed policy did everything it could is untenable." The critics say that if the Federal Reserve had been more alert to the danger of severe recession last year, interest rates would have come down faster, borrowing and spending would have increased and the downturn might have been softened...