Word: midyears
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...month ago at an OPEC price-setting conference in Qatar, when Saudi Oil Minister Ahmed Zaki Yamani and his allies in the Emirates refused to go along with the majority's demand for a 10% hike on Jan. 1, to be followed by a further 5% hike at midyear. The Saudis and the U.A.E. limited their increase to 5% for the full year. Thus, for the first time since OPEC began quintupling petroleum prices in late 1973, the oil cartel split into opposing camps. In order to hold down prices, the Saudis, who are OPEC'S largest producer...
...burned-out rocket. The rise in real G.N.P. fell to 4.5% in the second quarter, to 3.8% in the third, and is expected to be only about 3% this quarter. Unemployment bottomed out at 7.3% in May and then began rising once more. One measure of the setback: at midyear, economists believed that the jobless rate would fall below 7% by year's end. It now seems unlikely to get that low until a full year later−if then...
...close of trading last week, a gain of 55 points in five weeks. Monte Gordon, research chief of The Dreyfus Corporation, believes the Dow could hit 1100 in the first six months of next year, surpassing its alltime, January 1973 high of 1051.70. About midyear, Gordon predicts, the Dow will slide back to 1025 or so before moving up again to close 1977 somewhere between 1100 and 1150. Analyst Edson Gould of Anametrics, Inc. who has gained a reputation for accurately calling market turns (TIME, Apr. 26), is even more sanguine. He believes that by September the Dow could...
Although the growth of personal income also slowed during June, partly as a result of the rubber workers' strike, the new numbers did not shake the Ford Administration's cheery view of the recovery. During the course of its midyear budget review, the Administration made official its widely reported new estimates for the year. Key predictions: real G.N.P. for all 1976 will go up 6.8%, prices in December will be only 5.3% higher than in December 1975, and unemployment may drop below 7% by year's end (it rose slightly in June, to 7.5%). All these figures...
...Midyear is a time of economic pulse taking, often followed by a revision of forecasts for the year that have been overtaken by events. But this week, as the first six months end, there is no need for any drastic changes. Even though some of the latest indicators show a diminishing velocity, the outlook remains basically the same: the nation's economic revival will continue at a healthy pace, not only for the rest of this year but through 1977 as well...