Word: slowdown
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Dates: during 1980-1989
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...survey of 35 economists last week predicted that the economy will expand at a humdrum 2.8% annual rate during the last half of 1987 and a sluggish 1.4% in the first half of 1988. While that is a definite slowdown, it is not quite a dead halt. A few economists, however, predict a recession. Among them is Irwin Kellner, chief economist for Manufacturers Hanover, the New York City banking company, who thinks the U.S. economy will shrink by 2% in the first half of 1988 before quickly recovering...
...first place. But that source may be harder to tap, since venture capitalists generally make their investments in hopes of making a killing when the firm goes public. So whatever short-run damage the market crash produces, it poses an even more serious long-term threat: a slowdown in the growth of small companies and the rate of innovation...
Most of the harm that brokers may face, however, is financial. An estimated 24,000 of the securities industry's 300,000 workers are expected to lose their jobs in the market slowdown. Many more may forfeit their six-figure bonuses. The economic ripple effects will be felt most strongly on the Eastern Seaboard, especially in New York City, where sales of luxury cars, expensive homes, jewelry and other trappings of Wall Street success are already starting to suffer. The city could also be hurt by a falloff in tax revenue from the financial industry, which last year amounted...
...crash, however, has inspired considerable skepticism about the virtues of free-market forces. Last week opinion polls showed that a majority of the French people favored a slowdown in the sell-off. Depressed market conditions forced the Premier to postpone the sale of the government's majority share of the defense and electronics group Matra, a $23.5 million enterprise. Meanwhile, the West German government appeared poised to put off the sale of its remaining 16% stake in auto giant Volkswagen (1986 revenues: $29.3 billion), despite earlier pledges of a sale this year...
...around the world is so sluggish at the moment that few countries besides the U.S. are showing much demand for imports. Observes David Hale, chief economist for Kemper Financial Services: "The U.S. has been playing the role of global borrower and spender of last resort because of a sharp slowdown in the growth rates of other countries...