Word: downturned
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...they saw an increase in '08 year-over-year sales. The average jump was 16%. (The survey was taken in August, before the financial meltdown. Auto-industry economists say repair growth slowed in the fourth quarter as customers deferred big-ticket maintenance jobs during the worst months of the downturn, and that pent-up demand will lift the numbers in '09.) (See pictures of the remains of Detroit: America's fading Motor City...
...McFarland, the Florida shoe repairman, thinks a two-year downturn would give the industry a "shot in the arm" that could last 10 to 15 years. But even McFarland is quick to temper his excitement. He too realizes that what's good for the cobbler might be bad for the souls of his countrymen. "The more people we get," he says, "the worse it is out there...
Does the economy get worse from here or do the government programs recently signed into law increase confidence and start to put capital to work to create jobs and build businesses? In a downturn the bottom is only noticed after the fact. Data on employment, consumer spending, and capital expenditures often follow what has actually happened by months...
...unemployment to hit almost 9% by the end of the year. But, the point at which the economy begins to turn around is not when joblessness hits its peak. This inflection comes when the rate of the increase in firings begins to slow. The most important moment in a downturn comes not when the damaging contraction's momentum has come to rest but when its progress has begun to slow. (See pictures of former Fed Chairman Alan Greenspan...
...projected expansion in financial aid is a response to both a five percent increase in the number of financial aid applicants in the class of 2013 and the likely greater need of current Harvard students affected by the economic downturn, said Dean of Admissions and Financial Aid William R. Fitzsimmons ’67. This year, 78 percent of applicants to the class of 2013 applied for financial...