Word: forecasts
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Dates: during 1970-1979
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...result, most members forecast that the unemployment rate, now at 7%, will by year's end decline to about 6.5%, the lower end of the Administration's target range. Okun noted with satisfaction that in the last eight months of 1976 the economy was creating an average of 125,000 new jobs a month, while in the first four months of this year the rate has speeded up to 325,000. Said Joseph Pechman, director of economic studies at Brookings: "The rest of the year...
...capita consumption last year was less than 95 lbs., down 8½ lbs. from 1973. At the same time, growers, enticed by the high prices, overplanted, and are now turning out more sugar than anyone wants to buy. World production in the crop year ending Aug. 31 is forecast to be 87.7 million tons, or 4.4 million tons more than the expected demand...
...economic locomotive. It has just about recovered its preslump level of industrial output (97%), and its export performance is awesome; the trade surplus totaled $14 billion in 1976. But unemployment remains high at more than 1 million, or 4.6% of the labor force. Chancellor Helmut Schmidt has forecast a 5% growth rate in 1977, but several reliable economic institutes now expect a shortfall, indicating the need for stimulus. Despite fears of inflation, Schmidt is backing a $7 billion revival program with $1.5 billion to be spent this year...
...Capitol Hill since many Congressmen doubted it would be effective, and Carter chose not to fight for it at the same time that he was launching his embattled energy program. An additional embarrassment to the policymakers: shortly before they appeared in front of the committee, the Administration lowered its forecast of economic growth for the year a notch to 4.9% (see chart), and raised its prediction of the 1977 inflation rate to 6.7%. Charles Schultze, chairman of the Council of Economic Advisers, said that both revisions were caused by the abnormal winter cold, which held production down for a while...
...billion bbl. to about 11 billion bbl. Still, the established fields remain the citadels of proven resources (see map): the Middle East (with 368 billion bbl.), followed by the Soviet Union (78 billion bbl.), Africa (61 billion bbl.) and the U.S. (31 billion bbl.). The CIA'S forecast of shortages assumed that the Soviet Union, now an oil exporter, and its client states in Eastern Europe would become net importers by 1985. Other oil experts would argue that Moscow may continue to be an exporter, or at least be self-sufficient, since it is developing its gigantic Tyumen field...