Word: rosee
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Dates: during 1970-1979
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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...
After the upheavals caused by Volcker's monetary policy moves, the international commodity and money markets last week were enjoying rare refreshing quiet; the dollar held its own in Europe and rose dramatically against the yen in Japan. At the same time, gold slipped moderately to end the week...
Some of the portents are ominous. To begin with, less money is flowing into pure science. While U.S. investment in basic research and development declined from 3% of the gross national product in 1964 to only 2.2% last year, the rate in West Germany, which has averaged 3%, rose last year to 3.2%. Between 1965 and 1977 the investment in Japan rose from...
...Crimson defense rose to the occasion, however, and, sparked by several fine saves from Ippolito, repulsed the Tigers time after time, keeping the game scoreless...