Word: downturn
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...instead of going into bankruptcy, the Israelis are celebrating what they call a boomchik. Recently, in the midst of the Jews' annual Succoth harvest festival, Finance Minister Ze'ev Sharef officially hailed the end of the three-year economic downturn. "All signs show that we have finally overcome stagnation," he said. "There are no longer any real obstacles to our development...
...chip corporate customers. Other interest rates throughout the economy scale upward from that level. Bankers predicted that loans will now grow costly enough to crimp small businessmen, capital-goods industries and local government construction projects. Worst hit, as usual, will be new housing, which is uniquely sensitive to a downturn when rates jump-as mortgage lenders agreed they surely will. A more immediate reaction came on the New York Stock Exchange, where the Dow-Jones industrial average fell 11.56 points in the week's final trading session. The drop not only erased earlier gains, but left the bellwether index...
...hold Britain's wage increases to a maximum of 3½% for another 18 months. That grim arithmetic means that Britons will not get enough extra money to meet the rising costs. As a result, for the first time in 17 years, the British will experience a downturn in their standard of living...
...extravagantly be yond its budget, partly because of the heavy cost of the Viet Nam war but also through increased spending at home. Speculators' appetite for gold is only the most dramatic symptom of a monetary malaise that has also bred inflation, balance of payments deficits and a downturn in the world stock market...
...Johnson Administration seems not in the least worried by the prospect of a mild downturn. Rather, it is almost obsessed about the danger of runaway inflation. For all of 1968, President Johnson's Council of Economic Advisers foresees a record gross national product of some $846 billion, an increase of more than 7.8% over last year's G.N.P. Of that, real growth is expected to be a healthy 4%-with inflation accounting for the difference...