Word: slowdowns
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...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...
...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...
...protest against the government's anti-inflationary ban on wage raises for public employees. Post office employees earn 3.5% less than industrial workers (a mailman averages $30 weekly), but Postmaster General Reginald Bevins flatly refused an increase, offered only to study the subject. To make up for the slowdown, he ordered postal employees to work overtime, but it was like trying to melt a glacier. At Mount Pleasant. London's main sorting office, the backlog rose to 5,000,000 letters. Railway stations were swamped: in one shed alone at Euston. 100,000 mailbags waited four days...
Subways Are for Sleeping jumped the gun on Transport Chief Michael Quill's threatened New Year's Day subway strike in New York. Five days earlier this musical staged a song slowdown, a dance walkout and a star lockout, and then sat down on its flat, flat book...