Word: rating
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Dates: during 1970-1979
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...arms have become more sophisticated, their costs have soared. But even weapons that have remained basically unchanged, or filled unchanged functions, have gone up far more than the overall inflation rate of 75% during the past decade or so. Examples...
Since January 1974, Ecevit and Demirel have alternated as Premier half a dozen times. The two-man game of musical chairs has done nothing to resolve the country's protracted economic woes, which include a 70% inflation rate, 20% unemployment and shortages of everything from coffee (Turkish coffee is available only on the black market) to diesel oil. Moreover, religious and ethnic feuds have led to a frightening increase in violence. In the past 21 months, 2,100 people have been killed, most of them in confrontations between left-and right-wing extremists...
Last week the Commerce Department reported that the nation's output of goods and services, which had declined at an annual rate of 2.3% in the second quarter, actually rose again by 2.4% in the July-September period. Since a recession is commonly defined as two consecutive quarters of economic decline, it thus will be early 1980 before experts can formally announce the arrival of a textbook recession. But the latest indications of growth were deceiving and cannot endure long. The upswing was due primarily to a temporary increase in consumer spending, as people who had been kept away...
Economists believe that the nation's business will decline again this fall. Nonetheless, signs of continued economic vigor abound. Homebuilding, which is usually hit hard by high interest rates, remains strong; housing starts actually rose by 4.2% in September, to an annual rate of 1.9 million. At the same time, the use of the nation's industrial capacity edged up above...
Largely because of an offense that crunched Columbia two weeks ago and stunned defending Ivy champion Dartmouth in the season opener, the Tigers (2-1 in the Ivy, and 2-3 overal) rate at least an even bet to bite the Crimson on its own turf...