Word: slump
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Dates: during 2000-2009
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...past year, as the world economy has plunged into recession, governments have pledged to spend as much as $5 trillion of taxpayers' money to ward off a prolonged slump. For the most part, these massive programs are based on little more than theory: nobody advocating them has experienced a downturn as dramatic as this one. But Dagmar Szabados has seen such spending before - she knows what it's like to be on the receiving end of a gigantic fiscal infusion. Szabados, a chemist by training, is the mayor of Halle, a mid-sized town in the middle of what used...
...producers have already suffered tight margins for the past two years, according to Ward and Iverson. The price of feed skyrocketed amid a rally in the prices of agricultural products, up until the recent slump in demand for pork. For example, soybeans recently set their seven-month high in futures trading on the Chicago Board of Trade...
That may sound dramatic but consider this: in 2008, Italy's tourism revenues fell by 5%, the first drop in seven years. The slump has already translated into a loss of $5.2 billion and at least 150,000 jobs...
...expressed greater concern. At Crate & Barrel on Mass. Ave., assistant manager Radhika Ramdev said that the tax increase would hurt the store, which stocks big-ticket items like furniture and appliances. According to Ramdev, Crate & Barrel has already been struggling in the difficult economic climate and has experienced a slump in sales over the last six months...
...Companies that are majority owned by the government include some familiar names, among them China Mobile, the world's largest mobile phone company by subscribers, Baoshan Steel and China National Petroleum Corp. The role they play in China's hybridized economy appears to be expanding due to the global slump. As Beijing fights recession with a $586 billion stimulus package and as banks boost lending at the behest of the government, the private sector looks to be getting squeezed out. Loans to private firms in January totaled $61.7 billion, down $102.5 million from the previous month, even as total lending...