Word: slowdowns
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...outlook: modest slowdown, steeper prices, higher stock market
Recession will strike the U.S. economy later this year, but the slowdown will be shallow and brief...
...conventional, though not entirely adequate, way by which productivity is measured?rose on average about 3% a year, a healthy pace that had been maintained since shortly after World War II. In the '70s, productivity growth has averaged only about half that. Some economists long hoped that the slowdown was a cyclical fluke, caused mainly by the recessions of 1970 and 1973-75 (recessions always hurt productivity because companies run high-powered machinery at a slow pace and keep on the payroll workers who do not have much to do). But the annual report of the Council of Economic Advisers...
...workers mature and acquire job savvy in the '80s, they should cease to be a drag on productivity. It is also faintly reassuring that the productivity slowdown has not been uniformly severe throughout the economy but at its worst in a few industries: mining and utilities, which have been most deeply affected by new antipollution and safety rules; construction, where outmoded building codes have held back the use of new technology; and retail sales. Stores have been staying open nights and Sundays to satisfy shoppers' demands for more convenience; the longer hours force them to hire more workers...
Sources say the new slowdown immediately cut Iran's daily oil production by 2 million barrels, one-third of the normal level...