Word: falloff
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Behind this considerable falloff are many purely economic considerations. The inviting sales opportunities in Europe's new Common Market attracted dollars that might otherwise have gone to Latin America. The U.S. recession had a dampening effect and the world oil glut contributed to a sharp cutback in exploration and a drop in income in the Venezuelan oilfields, the U.S.'s largest single Latin American investment...
...October 1958. Automobile installment credit, the largest single category of installment buying, failed to make a gain over the previous month for the first time in two years. In January, department-store sales across the nation suffered a 3% decline from the same month last year, and a 3% falloff from December. The Commerce Department also reported that the rate of spending on new construction in January fell almost 15% below December; the usual seasonal falloff is about...
...Administration argued that the cut in imports would help national defense-by increasing drilling and U.S. reserves-the oil industry's own figures last week showed that there need be no worry over reserves. The American Petroleum Institute reported that drilling had declined slightly last year. But a falloff in demand, plus imports, had slowed the drain on U.S. fields. Thus, U.S. crude reserves at the end of 1958 stood at an alltime high of 30,536,000,000 bbl., up 235 million from the total the year before...
...gone up $7 billion since January 1957. Nevertheless, disposable personal income will still be so high this year (up 2% to $307 billion on Administration estimates) that about the same amount is being spent as last year. Installment credit, rising by $2.5 billion in 1957, has shown no serious falloff. While consumers are cutting back in durable goods, they are not cutting down on food, clothing, or services. With salesmanship, the consumer can even be enticed into buying summer appliances in the dead of winter. Said an executive of Manhattan's R. H. Macy & Co., which...