Word: slowdown
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
True, the Government also reported that in the second quarter real gross national product?the nation's output of goods and services, adjusted for inflation ?rose at an annual rate of 8.7%. That rate is obviously unsustainable, however, and a slowdown has already begun. Though no one?not even Author Paul Erdman?really believes the apocalyptic prophecies in his bestselling novel The Crash of 79, some serious forecasters fear a genuine slump next year...
...growth rate of 3.1% for all of 1979; that would not be far below the 3.9% expected this year, and is probably about as much as the economy can afford without generating even worse inflation. Eckstein's colleagues differ somewhat on the exact timing and shape of the slowdown, but they accept his general outline...
...board's forecast assumes some temporary increase in unemployment next year?perhaps to 6.3% or 6.4% next summer, in Eckstein's view ?from last month's relatively cheering rate of 5.9%. Also, the slowdown will do little if anything to temper inflation, which is expected to average 8% this year as measured by the Consumer Price Index. Robert Nathan, who heads an economic consulting firm in Washington, thinks the rate may come down a point or so next year, but he is the board's optimist. Sprinkel believes inflation may actually worsen a little next year; the others...
Some other reasons for thinking that the business slowdown will not deepen into recession: averaging out quarterly swings, the 42-month-long expansion has been moderate so far, and has not produced the excesses?a too rapid pile-up of business inventories, for example?that can be corrected only by recession. Consumer buying has held up fairly well, business investment in new plant and equipment is picking up a bit, and both should be spurred by the tax reduction of $16 billion to $18 billion a year that Congress is about to enact. In 1979, though, that cut will just...
...inflation can be held in check?a big if?the outlook past the 1979 slowdown seems bright. Greenspan sees a trend throughout the industrial world toward more conservative tax, spending and money-supply policies aimed at spurring investments. As a result, he believes, the U.S. and other industrial powers have a good chance of coming out of "the malaise of the 1970s" into a long era of moderate but steady and less inflationary growth in the 1980s. Eckstein foresees some danger, but a rather pleasant one. Once the slowdown is over, he thinks, the economy will expand so rapidly through...