Word: slowdowns
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Dates: during 1960-1969
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...dominant degree, the '67 slowdown resulted from cutbacks in business buying for inventory, which had soared to unsustainable heights late in 1966. It was a troublesome legacy, even through the April-June quarter when businessmen liquidated their stocks of appliances, hardware and other durable goods at a $600 million-a-year pace. One persistent casualty of the sell-off was industrial production, which not only failed to gain but this summer slipped to 2% below its level of a year earlier. Since spring of last year, the nation's factories have reduced their operations from...
...warned in the delicate, secret negotiations that preceded it, would have impelled France, Belgium and The Netherlands to mark down their money in retaliation. Had that occurred, the resulting chain of devaluations might have ripped the world's monetary system apart, and perhaps even caused a prosperity-wrecking slowdown in world trade (as happened after 1931). Moreover, only with limited repercussions could Britain gain the necessary time to repair its own floundering economy and increase exports to bring its trade deficit into balance...
That prospective performance compares with a 4% growth last year, which was the worst since the Common Market's first full year. Earlier this year, EEC experts predicted a slowdown of lesser proportions. The German recession, however, proved more durable than anticipated; despite recent frantic efforts to revive business, a fifth of Germany's industrial capacity stands idle. This year, the country's gross national product is expected to drop about...
Britain's endemic deficits are usually largest in times of expansion, when Britons, fully employed and flush with cash, step up their purchases of goods from abroad. This time, however, Britain is in the trough of a government-imposed slowdown now 18 months old, a belt-tightening period of austerity imposed by Wilson's government after another sterling crisis...
...growing spirit of factionalism is a clear danger to the cohesion of the Atlantic community," said Peterson. "At the very best, its projection into the future implies a slowdown in the economic growth rate of the free world and a particular slowdown in continental Europe. At worst, it raises the specter of accelerating restrictions on capital flow and along with it those notorious handmaidens of capital control: tariff walls, trade wars and isolationist trade blocs. While these projected consequences have unpleasant economic results, the political reverberations could be awesome. We are marching steadily toward a dangerous confrontation between the rich...