Word: downturning
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Dates: during 1980-1989
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...continuation of that inflation psychology helps explain why the U.S. savings rate has not increased much during this recession. In most past economic slides, Americans, fearful for their jobs, usually started putting away more money in order to create a financial cushion. During the 1973-75 downturn, for example, the savings rate rose to more than 8.5%. But Americans saved only 5.5% of their earnings during the first quarter of 1982, and the level increased to just 6.3% in April...
...marked by heavy unemployment almost everywhere and in most countries (though no longer in the U.S.) by rapid inflation as well. All parties agree that in the interdependent world economy, the major trading nations should keep their economic policies from clashing lest they delay recovery or even make the downturn worse. But preliminary discussions among the diplomatic aides who prepared the way for the summitteers turned up sharp variances as to how economic strategies should be coordinated...
...timely payment of benefits beyond "sometime during 1984," unless the system is reformed. And if the economy grows vigorously from now through the rest of the 1980s-a fiscal event very few economists are predicting-the funds will barely squeeze by, with no margin to guard against a temporary downturn...
Although the consensus report of 20 corporate economists was that the downturn would end within a month, few businessmen seem convinced. Said J. Paul Lyet, chairman of Sperry: "I don't think the situation will pick up until the fourth quarter, if then." Added Reginald Jones, the retired chairman of General Electric: "We won't see any serious recovery until the emotional and psychological gridlock over the federal deficit is broken...
Whether farmers mainly blame Reagan for their troubles is not yet clear. But the general economic downturn is having a severe effect, even on those who raise livestock. Looking for bargains, shoppers are buying more chicken and cheaper cuts of red meat. As a result, consumption of beef and pork is down markedly...