Word: downturns
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Dates: during 1990-1999
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...Conference Board survey today reporting that American consumers were less optimistic about their financial outlook in December is fueling concerns that the economy may be heading toward a downturn. "This is a troubling sign," says economics reporter Bernard Baumohl. "Since spending by consumers makes up more than two-thirds of U.S. economic activity, any dip in the level of their confidence can depress the economy. Consumers are clearly stressed out by being overextended and the perception that job prospects and income growth are very poor. The Federal Reserve Board will probably have to lower interest rates sometime early next year...
...capital in a last-ditch attempt to influence the conference that will reconcile the House and Senate versions of the cuts. But unless they provoke a huge public outcry, most of the cuts will probably stand, and the fortunes of an already unfortunate people may take another drastic downturn...
Reports of the U.S. economy's imminent declinenow appear to be greatly exaggerated. After three straight monthly drops in GDP, new reports out of Washington show increases in retail sales and industrial production, with no rise in inflation. The downturn in indicators, saysTIME's Bill McWhirter, were only an aberration rather than a trend. "April was a just a blip. What happened was a confluence of bad news, topped by a $20 billion retroactive tax bill. About 90 percent of the disposable income in the country is in the hands of people making over $60,000 a year. These people...
...even more, leading to more cuts in the work force and a further fall in consumer spending -- the vicious cycle that drives a recession. In surveys, confidence still looks solid, but beneath is an enduring anxiety about wage stagnation and job security. With any additional sign of a serious downturn, consumer confidence could collapse like a nervous smile...
According to OCS Recruiting Coordinator Judith Murray, Wall Street's downturn does not seem to have adversely affected the opportunities of Harvard students...