Word: output
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TIME's economists predicted that the recession should hit bottom in late spring or early summer. By then, many businesses that are now cutting production in order to reduce bulging inventories of unsold goods will have exhausted excessive stock and begun to increase output again. In July a scheduled 10% cut in personal income taxes could give a boost to consumer spending. Recovery, though, will be painfully slow. "We may just have a long, flat bottom with very little growth," said Feldstein, adding wryly, "Only professional economists will know that the recession is over." Even by year...
...telecommunications will be a multi-billion-dollar struggle of giants. AT&T is already one of the world's leading producers of an array of highly sophisticated electronics equipment and computer-driven data and information-processing equipment. Yet the outside world rarely learns of its prodigious high-tech output, since virtually all of it is consumed internally by subsidiaries and affiliates throughout the Bell System. Now the company can begin offering its products to anyone who wants to buy them...
...slows, the economies of the Far East have hardly broken stride in their race for prosperity. Even as recession engulfed much of the Western world in 1981, most non-Communist Asian nations achieved growth rates of between 3% and 7% for the year. In Hong Kong and Singapore, output surged by 10%. These Pacific powerhouses contributed more to the increase in world production than the U.S., Canada and Europe combined Economists expect that the Asian nations will score similar growth gains...
...scratch or spiral meant something. But Penck's images are mere quotation suffused with graphic charm; they are little more than the husks of myth, the ornamental posing as the archetypal. Of course, one could say much the same about some of Paul Klee's output-to name but one of the modern primitivizers to whom Penck is now compared-but there is a portentousness in Penck's graffiti that rarely surfaced in Klee...
...winning an extraordinary concession from the government on a strictly labor matter: a five-day work week, granted on Jan. 31 after decades of six-day work weeks in Poland. But that only aggravated the economic crisis by further reducing production?especially in the coal-mining industry, whose output fell by nearly 10% in 1981. In addition, the country was soon swept by a spate of wildcat strikes over local issues. In some cases, Solidarity chapters were taking on the Communist Party bureaucracy by demanding the ouster of corrupt local officials or the conversion of party buildings to public hospitals...