Word: slowdown
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Dates: during 1980-1989
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...shares plunged by 6.8% on Monday. Finance Minister Balladur quickly moved to allay investor concern. Said he in the National Assembly: "The Bourse has risen enormously. From time to time, people catch their breath." But after Balladur's speech, prices recovered only slightly. Market experts in Paris ascribed the slowdown to an impatient mood among investors, who are waiting for more solid economic results before pushing prices higher...
...slowdown comes at a time when such monumental undertakings as the $3.4 billion Riyadh International Airport and the $18 billion industrial city of Jubail are largely complete. Yet those and other ambitious projects will now cost millions to maintain. Perhaps because of that, the suddenly penny- pinching Saudis have been making life miserable for foreign companies accustomed to more opulent treatment. "It's horrible now," says one American contractor in Riyadh. "They don't pay, there's little new business, and they nickel-and-dime you to death with inspections and rules...
...will spend only about $450 million this year looking for crude, a 50% cut from 1985. The cutbacks affect not only the U.S., but also the allies from which it buys oil. In Britain's offshore fields, observes Petroleum Intelligence Weekly, "concern is starting to center on a spending slowdown that could leave the North Sea industry ill equipped to pick up again...
...that companies are borrowing too much. In 1984 the debt of U.S. corporations grew 16%; it was up an additional 7% for the first nine months of this year. As companies continue to use more of their income for interest payments, they can be badly hurt by a slowdown in growth. Another sign of corporate weakness, a decline in capital investment, may soon appear. A Government survey released last week reported that U.S. businesses, after adjusting for price increases, will curtail their spending in plant and equipment by 1% in 1986. This year, in comparison, it is estimated that these...
...less. Nonmortgage consumer debt is nearly 19% of disposable income, an all-time high. The rate of personal savings has fallen from 6% of disposable income at the end of 1984 to 3.7% in the third quarter of this year. Depleted savings coupled with increased debt could cause a slowdown in consumer spending, which could be particularly bad for retailers during the important Christmas season. That could damage the entire economy...