Word: slump
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Dates: during 1960-1969
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...Cologne's Industrial Institute reported that East Germany last year lost $400 million in production because of time spent by workers in compulsory political indoctrination and other Communist Party activities. Passive resistance also contributed to the industrial slump; in the third quarter alone, more than 850,000 days of production were lost through absenteeism. Chief reason for the sagging economy continues to be the serious labor shortage caused by the mass flight of skilled workers to the West until the Reds sealed off the border with the Wall...
...wooed U.S. Steel Chairman Roger Blough in private chats. Fortnight ago, Kennedy and Labor Secretary Arthur Goldberg huddled secretly for two hours one evening in the White House with McDonald and Blough. Kennedy wants 1) a quick settlement to head off any first-half splurge and second-half slump in inventory buying, 2) no increase in prices, and 3) only such wage and benefit increases as are warranted by increased productivity...
...first time, the controls program would include dairy farmers, who are suffering from overproduction because of a slump in public demand for dairy products. They would be told how much to market (production cannot easily be controlled, since cows must be milked), and would get higher Government support for milk than at present. Whether or not dairy farmers accepted the controls, the Government would not spend more than $300 million a year to help them-about 60% of the estimated cost of the current program. If they declined, the Government would lower supports...
Indonesia has been pushed toward economic breakdown by spendthrift use of foreign exchange (down from $300 million in 1960 to an alltime low of $10 million) and a slump in exports that since 1959 has transformed a $300 million trade surplus into an estimated $50 million deficit for last year...
...spending 85% of its capital budget on new machines and only 15% on plants in which to put them, saw its earnings swell 21% to $242.5 million last year. (Archrival WESTINGHOUSE was also automating rapidly, but its profits slid from $79 million to $45 million, due largely to a slump in the heavy electrical apparatus market that accounts for 50% of Westinghouse's sales v. only...