Word: sluggish
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Inflation is raging at an annual rate of about 30%. Nearly 8% of the nation's work force is unemployed. A deep and chronic balance of payments deficit ?caused largely by oil-price hikes and sluggish exports?threatens the long-term solvency of a nation vitally dependent on foreign trade. To make up for a record $4.3 billion budget deficit last year, the government had to draw on reserves (now down to $4.5 billion from a peak of $6.7 billion in 1973) and borrow heavily abroad...
...bridge still spans the sluggish, greenish Mundaca, touching directly on the new Guernica that has replaced the flattened core of the old town, much of it laid out along original streets. The population has grown to some 17,000, reinforced by many non-Basque migrants from other parts of Spain. Unemployment is relatively low: the three silverware factories and the old arms plant are doing acceptable business. Monday -the day the bombs came-is still market day. Basque is spoken widely, and the old folks say that the young are more radical than anyone in their pursuit of Basque rights...
...steady performance by pitcher Larry Brown overcame a sluggish performance by the Harvard baseball team as the Crimson eased past MIT, 5-1, for its tenth straight win of the season...
...March 1975; the U.S. then began pulling out of its worst recession since the Depression of the 1930s. Consumer spending has moved up, boosting demand for everything from automobiles to pantyhose. But spending by business for such items as machine tools, plants, office buildings and stores has been persistently sluggish. During the first 21 months of recovery, until last December, business investment adjusted for inflation rose at a paltry average annual rate of 3%, only about a fifth the rate during the same stage of previous recoveries. The shortfall, figures J. Stanford Smith, chairman of International Paper Co., has cost...
INVESTMENT CREDIT. The committee voted overwhelmingly to give businessmen at least a chance to take a tax credit of 12% on purchases of new plant and equipment, v. 10% now. The increase is badly needed: sluggish business investment is probably the biggest drag on the economy, and while the rise in the credit would be small, it has become a symbolic issue in the eyes of many executives. But the House, in a misguided effort to spur employment, turned it down in favor of a "jobs tax credit": 40% of a newly hired worker's wages...