Word: quarters
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Dates: during 1970-1979
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...most convincing evidence that a downturn is coming is that spending by consumers, which has been the chief engine of the nation's 50-month-old recovery, is slowing substantially. The nation's output of goods and services grew by a paltry .8% in the first quarter. For April and May, industrial production actually declined, though only slightly, for the first time since January 1978. The standard forecast now is for a shallow slump lasting no more than two to three quarters...
Japan. After its longest postwar recession, the country is again moving ahead, with its growth running at an annual rate of 7.4% in the first quarter of this year, up from 6.8% in the final three months of 1978. At the same time, the growth of exports, a main source of irritation between Japan and its trading partners, has slowed. The official growth goal for the year is 6.3%, but, given the need to curb oil consumption, actual economic expansion could be limited to 5% or less...
...more than a year. Reminding him that he has so far been dead wrong elicits the characteristically brassy reply, "Yes, and I'm going to keep on saying it until I get it right." He expects the decline in gross national product to last from the second quarter of this year through the first quarter of 1980. The slowdown, in Evans' view, will cause inflation to drop from its present 13% rate to about 8% by 1979's end. Chances of a leveling off of retail food prices are particularly bright because of the huge grain stockpiles...
...hole cast. There are some problems inherent in the play. Peter Nichols (Joe Egg, The National Health) has really scrambled three plays here- a sequel to Oh! What a Lovely War, a sequel to The Boys in the Band and an indigenous British product of the past quarter-century that might be called Britannia Rues the Waves. This is a form of retroactive remorse for colonialist sins that one no longer possesses the power to commit. If Maggie Thatcher succeeds in turning England around, she may sound taps for a generation of British playwrights...
...arrived at a 20th century equivalent: a late Sunday afternoon on the American open road, the long procession of gas stations relentlessly shut down and the gauge's needle sinking like the setting sun toward Empty. If at last a gas line appears, winding up the road a quarter of a mile to an oasis of heraldic light, the effect is surreal: the machines in their idling file give off an almost animal heat, the drivers waiting inside them feeling anxious, vaguely betrayed (by Detroit, Carter, Schlesinger, OPEC, history) and sometimes alarmingly close to the Hobbesian state of nature...