Word: slowdown
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...shorter term, Charles Schultze, chief of the Council of Economic Advisers, is concerned about a possible slowdown in the economy during the second half of next year. The CEA has suggested that the President consider asking Congress for a "quickie" tax cut next year in the event that stimulus is needed before the tax-reform bill is passed. The President, at his press conference last week, stopped just short of endorsing the idea when he said that a tax cut "may come next year or perhaps later-I think next year." One idea is to propose lowering withholding rates...
...business have been down slightly for the past three months in a row. In August, industrial production declined for the first time since January, and the unemployment rate rose slightly to 7.1%; joblessness among blacks equaled its post-World War II high. All that has stirred talk of lasting slowdown in the economy-or even a new recession...
...Washington's Brookings Institution, noted that Washington policymakers, fearful that the rapid advance needed to cut unemployment would plunge the nation into still worse inflation, have kept the economy "on a tightrope." But the economists agreed to a man that business will come out of its summer slowdown-indeed, is already doing so-into a period of steady no-boom-no-bust expansion. Said Walter Heller, University of Minnesota professor: "The middle-aged recovery has gone through its mini-pause...
...than Giscard's government in solving France's economic problems. If the common program were enacted, the study argues, the program's large wage increases, combined with price freezes, would increase workers' buying power. But there would also be a shortage of consumer goods, a slowdown of housing construction and a drop in capital investment. Moreover, it would be far too expensive for a leftist government to end unemployment by creating 1.5 million new jobs...
These are dicey times for shipowners who play that gambler's game called tankers. As a result of the slowdown in the growth of petroleum consumption and some reckless overbuilding by shipyards in the early 1970s, the tanker business is in the worst depression in memory. Fully 10% of the world fleet sits idle for lack of cargo...