Word: sluggishly
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Economic theory says that in sluggish times lower interest rates will help spur production and growth. Theoretically, then, economists should have applauded loudly last week when major U.S. banks cut the prime lending rate that they charge many business clients from 8% to 7.5%, the lowest level since 1977. Instead of hoorays, though, the news was met with skepticism. The reason: many economists now doubt that further cuts in interest rates will give much of a boost to the economy, which was muddling along at only a .6% annual clip in the second quarter. Another sign of the economy...
...deal was engineered by Hill & Knowlton President Robert Dilenschneider, 43, who took over in March with a mandate to breathe new life into a company that has been suffering from sluggish revenues and ebbing morale. Dilenschneider wants Hill & Knowlton to help its corporate clients deal more effectively with touchy policy issues. Says he: "With all due respect to people who unfurl banners in front of a hot dog stand, that's not my shtick...
Although Rosenthal's tempos tend toward the inflexible, sometimes leaving sluggish singers to catch up as best they can, he never swamps them in Wagnerian sound. Clean and elegant, Rosenthal's interpretation reflects an approach one does not usually associate with Wagner. "Some people will be surprised," he says, "but the Ring is lots of fun." In a production that compels rethinking Wagner's monument, the casting of Rosenthal is the most daring element...
This is far from the first time that OPEC has tried to cope with oil prices, which have been falling since 1981 because of sluggish world demand. The group has periodically imposed quotas, but they never stuck. For most of this decade, Saudi Arabia, OPEC's largest producer, kept its production far below capacity. Last year, though, it began a new strategy of boosting output and flooding the market. A price war ensued, as Yamani knew it would...
...months, portents have flashed across the financial heavens, feeding expectations of renewed vigor for the sluggish world economy. The price of oil has been in free fall, lifting a multibillion-dollar burden from industrialized and Third World countries. International interest rates have been dropping steadily, clearing away yet another obstacle to growth. In the U.S., the declining dollar has been named a harbinger of strengthened international competitiveness, meaning that the country's bedraggled manufacturing and farming sectors would once again revive and help refuel the world's foremost engine of economic expansion...