Word: slowdowns
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Dates: during 1960-1969
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...last week moved up from the presidency to the chairmanship of widely diversified American Machine & Foundry Co., succeeding Morehead Patterson, who died fortnight ago. His acquaintance with both places should be useful: AMF faces an antitrust accusation of conspiring to restrain competition in the bowling industry, and a slowdown in its military contracting helped to cut AMF's first half-year sales 11%, to $185 million. Burgess, once president of Trans World Airlines, was an Eisenhower era Assistant Secretary of Defense, joined AMF in 1958. Burgess intends to push new consumer products, including an auto exhaust filter which...
...still expanding economically, they are doing so far more slowly than a few years ago. Last week the Common Market Commission reported a still further "tendency for expansion to slow down" among the Six. The free world lag, says top Japanese Economist Ryokichi Minobe, "is not so much a slowdown of a recession nature, but a forced adjustment back to more normal, healthy rates." All over the world this forced adjustment shows itself in softer demand and sharper competition, in that old profit-price squeeze and nervous stock markets...
Wonderland Economics. The general slowdown is making for some unfamiliar strains in the payments balances of many countries. Europe's huge hoard of gold and dollar reserves is dropping. West Germany recently moved from a fat surplus to a small deficit in international payments, and the surpluses of Belgium and Switzerland are declining. And in a time when everyone talks of expanding markets, Japan has clamped on import controls and Canada has raised many of its tariffs from 5% to 15% in an attempt to bolster its sagging dollar. It seemed that almost all countries were attempting to improve...
...auto industry, which consumes one-fifth of the nation's steel, has enough at its disposal to carry through the first month's production of its 1963 models. Ahead lie the traditional summer doldrums, when many big steel users close for vacation. Normally such a seasonal slowdown would cause no alarm, but steelmen today are none too bullish about their long-term prospects either...
...Though slowdown is not unnatural in the second year of a recovery, the majority of businessmen seem to feel that business will get better. Manufacturers are notably confident. Last month new orders for durable goods ran well ahead of sales, rising 3% to a record $16.9 billion. That gave the hard-goods makers a total backlog of $46.7 billion in unfilled orders, largest since the recovery began...