Word: downturns
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Then again, we might not be - and premature optimists have been punished several times already during this downturn. So the people who make a living calling the twists and turns of the economy have become almost comically cautious about declaring an inflection point. Some examples...
...unexpected increase in orders in February marks a moderation relative to the incredibly weak data in January," wrote Michelle Meyer of Barclays Capital in response to the same durable-goods data. "However, we do not interpret today's report as a signal of the end of the downturn in manufacturing...
...reduced demand and financial flows explain the immediate cause of the downturn in trade, a different - and potentially more damaging - specter looms: the return of protectionism. In a recent report, the World Bank found that although the G-20 nations pledged themselves to avoid protectionist measures when they met in Washington last November, no fewer than 17 of them have, since then, "implemented measures whose effect is to restrict trade at the expense of other countries...
...spokesman John D. Longbrake said that Harvard understands its responsibilities as a major employer and recognizes that it depends heavily on its staff to fulfill its academic mission. He added that Harvard has “taken a series of steps to minimize the impact of the global economic downturn on the people who work here” by strictly limiting hiring, freezing salaries for non-union staff and faculty, and offering a voluntary early retirement incentive plan for 1,600 workers...
...International ranked Vietnam 121st out of 180 on its Corruption Perception Index. But it was perhaps easier to overlook occasional shakedowns from officials when Vietnam's economy was doing well and incomes were doubling every few years. That's no longer the case. People being squeezed by the economic downturn are increasingly frustrated by the nation's enduring corruption, says Trinh Hoa Binh, head of environment and health at the government-run Institute of Sociology in Hanoi. Officials are maintaining their special privileges while the economic position of ordinary Vietnamese is becoming more precarious. They are incensed, he says, that...