Word: retailing
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Dates: during 1960-1969
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Airline stocks fell especially far last week after Pan American skipped a dividend as a result of a $19 million loss in the year's first five months. Traders were further depressed by a cutback in capital spending at Chrysler and news that retail sales dropped in June for the second straight month. These indicators might bring some cheer to the Federal Reserve Board, which has been desperately looking for evidence that its restrictive money policy has produced some slowdown. But New York's First National City Bank warned in its latest economic letter that, "to hold fast...
...between 17% and 40% of total charges during the first year of their credit-card business. Two-thirds of the banks earned no profit at all on the cards during 1968, partly because of high start-up costs, but also because of lack of experience in handling large-scale retail credit...
...take out the trumpet and start to blow it," said William Butler, vice president of the Chase Manhattan Bank. His caution was echoed by other business and Government economists. The leading indicators, however, reveal a significant slowdown in construction, commitments for new plant and equipment and general investment activity. Retail sales have flattened in recent months, and the actual volume of sales-discounting inflation-has not risen at all over the past year. The evidence suggests that consumer demand, which has been partially responsible for inflation, is moderating. And no wonder. The U.S. is currently in the midst...
...other major country but Canada and Britain, and the nation's traditional trade surplus has all but disappeared. Wage gains are exceeding the increase in workers' productivity, pushing up costs all around. Some of the fastest rises are in pay for service workers-laundry men, bus drivers, retail clerks-who produce no more than before and sometimes much less. "That," says Yale Economist William Fellner, "is what makes life less and less comfortable in a rich, industrial country...
...early signs of the cooling of inflationary pressures" - and many other experts agree with him. The nation's out put of goods and services is expanding; only half as fast as a year ago, and that growth may stop entirely during the summer. The volume of retail sales has been sluggish for a year, and un employment, still a low 3.5%, is up slightly from 3.3% earlier this year. Of the three principal forces in the economy, two have lost most of their lift. Government spending and consumer spending are relatively flat; only businessmen's extremely large capital...