Word: downwards
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Dates: during 1970-1979
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...slowdown abroad, to be sure, has been milder than the U.S. recession. Yet as the U.S. economy shows ever more vigorous signs of reanimation, no similar trend is immediately visible in Europe. In the past few months, nearly every government has revised its 1975 growth forecasts downward. The main reason: West Germany's economy, which accounts for fully one-third of the European Community's gross national product, has failed to respond to the expansionary program of tax credits and deficit spending launched by the government last fall. Unemployment is holding at record postwar levels (4.4% in June...
Another criticism is that floating rates have not helped to solve international trade problems. Britain, for example, continues to run huge deficits despite a downward float of the pound. Its woes underscore perhaps the most basic charge against floating rates: that they encourage nations to spend more than they earn, in the false hope that a cheaper currency will correct major economic weaknesses by encouraging exports and holding down imports. In reality, says University of Chicago Economist Arthur Laffer, currency fluctuations "never solve fundamental problems...
...500s. Warnings that prices will collapse again can still be heard along Wall Street, chiefly among chartists. But they are outnumbered by newly optimistic money managers who predict that the industrial average will at least break through 900 by year's end, though probably not without a downward stumble of 10% to 25% in stock values at some point along the way. Value Line's Bernhard expects the Dow to reach the 900-950 level by year's end and sees it climbing to somewhere between 1500 and 2000 by 1980. More cautiously, Charles Booth, senior investment...
...until the public is confident that an upturn has definitely begun, Congress is bound to come under increasing pressure to do more. Unfortunately, last week's economic news indicated that it will be some time before the pressure lifts. The index of leading indicators in March continued its downward trend. New orders to manufacturers fell 3% in March after a February rally, the sixth decline in seven months. Farm prices rose 4% in April, meaning that the present low inflation rate of 3.7% is likely to edge upward...
Trash Slash. A steady downward trend has been established by one of the economy's more esoteric indicators: garbage collections. Consumers buying fewer goods have less to throw out; sluggish industrial activity is reflected in less waste. In the first three months of 1975, Chicago sanitation workers picked up 200,000 fewer tons than in the first quarter of 1974. Conspicuously absent are the usual numbers of discarded major appliances such as stoves, washing machines and refrigerators. New York City's household and construction wastes dwindled by nearly 1 million tons in 1974, and continue to diminish...