Word: low
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Dates: during 1970-1979
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...related goods and services as varied as food and rents (tractors and furnaces burn fuel). So consumers will be obliged to buy less of almost everything else, notably cars, appliances and other durable goods. Squeezed by tight money, the construction rate of new homes and apartments could go as low as 1.2 million by March. As demand wanes, businessmen will further reduce production and inventories. But by late fall or early winter, their shelves and warehouses will be fairly empty, and they will have to stock up with new orders. This should send the economy up again...
...severe will the slump be? TIME'S economists figure that, from this autumn's high to next year's low, the G.N.P. will decline a total of about 2.4%. That would be much less than the 5.7% plunge...
...York's high-fashion circles, it is known as Chilly Chic. In less trendy zones, people call it common-sense clothing. Either way, fear of goose bumps has struck: like squirrels gathering nuts, Americans are collecting cozy clothes for a low-energy winter. Department stores report record sweater sales, up as much as 50% over last year. Quilted down coats and jackets have descended from snowy mountains to urban streets. A mannequin in a Los Angeles store window wears thermal underwear -and spike heels. "Anything that even looks warm is big," explains a Chicago fashion executive...
...sector of the Beaufort Sea for two years, are very bullish on it: this fall Dome Petroleum Ltd. brought in a 20,000 bbl.-a-day strike, the biggest ever made in Canada. But huge expenses (Dome's well cost $70 million), heavy ice, storms and temperatures as low as - 60° F are only some of the hazards confronting U.S. development of the Beaufort Sea. An all-too-familiar problem: bureaucratic and environmental barriers are holding up progress...
Early in 1952 the Du Mont Television Network needed a low-budget show to throw into the graveyard slot opposite "Mr. Television," Milton Berle. Their unlikely idea: talks by a Roman Catholic prelate. An overnight sensation, Bishop Fulton J. Sheen's Life Is Worth Living eventually pulled nearly 20 million viewers in the weekly ratings war. A 1953 poll of journalists proclaimed Sheen TV's Man of the Year...