Word: slowdowns
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Almost to a man, the managers who are coming to the forefront in Europe have a common objective: they are reaching out for new markets, particularly in the European Economic Community. Though most European economies are troubled by higher inflation than the U.S., they are recovering from a recent slowdown in growth, and the potential for expansion is great. After last year's currency revaluations some Continental businessmen are considerably more interested in direct investment in the U.S. because their money can now buy more. In addition, Europe is catching up to the U.S. in use of sophisticated technology...
Then why does the custom of August vacations persist? Partly it is sheer habit, but partly also the crush begins with the large industries, whose managers claim that only by shutting down altogether can major maintenance be done and everyone be given a holiday without an unacceptable slowdown of the assembly lines. After the factories close, a whole chain of related businesses follows suit. Then the food, clothing and other industries schedule their vacations for the "dead" period. Even so, Europeans seem in no hurry to change. When Italian workers were recently polled on their vacation preferences, almost 80% said...
Outsprinting even the most optimistic forecasts, the gross national product burst ahead in this year's April-June quarter, expanding at a prodigious rate of 8.9% in real terms-the biggest three-month gain in six years. The performance was doubly encouraging because of a marked slowdown in the pace of inflation, to 2.1% v. 5.5% in the year's first quarter. Overall, the Commerce Department reported last week, the second quarter G.N.P. grew by $29.9 billion, to an annual rate of $1,139 billion. Herbert Stein, chairman of the President's Council of Economic Advisers...
Like many other oil firms, Royal Dutch/Shell faces dwindling profit margins, stiffening antipollution laws and inflating demands from producing countries for more money. Partly because of an economic slowdown in Europe and a leveling in earnings of its U.S. subsidiary, Shell Oil, the Royal Dutch group saw profits fall 35% in this year's first quarter, to $ 192 million. Predicts Wagner: "On the whole, 1972 is not going to be a very attractive year...
SAIGON--The U.S. Command ordered another slowdown in the rate of U.S. withdrawals from Vietnam last week, cutting the rolls by only 500 servicemen, military spokesmen announced yesterday...