Word: ortner
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Dates: during 1980-1989
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With rare unanimity, however, economists warn that the upturn, whenever it comes, will be painfully slow and gradual. Robert Ortner, chief economist of the U.S. Department of Commerce, ; observes that after past recessions the total output of goods and services on average has jumped 7% in the first year of recovery. "This time it will be less than that," he says. That is putting the case very mildly; many private economists guess that the upswing will be only half as vigorous as it traditionally is. Walter Heller, a member of TIME'S Board of Economists, has compiled a self...
...Goodson around these days. Such a free-spending attitude would help lift the economy from the painful recession that has gripped the U.S. since last July. Economists agree that the consumer is the most important factor behind the rebound that many expect to start in the summer. Says Robert Ortner, chief economist for the Commerce Department: "The consumer is going to have to bring us out of this recession. The other major sectors of the economy aren't going to contribute much, if anything...
...industry watchers expect Christmas sales this year to set any growth records. Said Joseph Ellis, a merchandising watcher for Goldman, Sachs & Co.: "By the time the smoke clears in January, I don't think it will have turned out to be a strong Christmas season." Added Robert Ortner, chief economist at the Commerce Department: "Christmas sales will be mediocre at best...