Word: manser
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Dates: during 1970-1979
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BRITAIN. Growth was already slowing when the oil emergency and a coal miners' ban on overtime work caused the government to order drastic austerity. Now, says W.A.P. Manser, adviser to a London merchant bank, the political situation makes economic forecasting virtually impossible for the short term. The outcome for the year will depend not only on the Arabs but also on how long the government holds to a mandatory three-day week for industry -which in turn depends on its negotiations with the Mineworkers Union...
...Manser does opine that if the three-day week lasts only a month or six weeks into 1974, industry can probably recover the lost output in the remainder of the year-provided that the Arabs decide to make enough oil available...