Word: slump
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This performance was all the more remarkable because the Pacific countries are heavily dependent upon selling their goods abroad. Despite the slump that has softened demand for imports in the U.S. and Europe, many Asian nations have still boosted exports. In the past three months South Korea's sales abroad have risen by 15% and Taiwan's are up 7% from the same period a year...
...feeder industries like steel, machine tools, building supplies and, through them, into the national economy as a whole. Figures released last week by the Federal Reserve Board showed that industrial production dropped by 2.1% in November, the fourth monthly decline in a row. That was the largest one-month slump since May of 1980, and was a clear signal that worse difficulties are still to come. Meanwhile, the Fed also reported that the nation's factories operated at a mere 74.9% of capacity during the month, a decline of 2 percentage points from the October level...
...consensus outlook shows the economy continuing to decline into early next year, and then picking up at about midyear. Preliminary Government figures released last week showed business declining at a steep annual rate of 5.4% in the fourth quarter. TIME'S board predicted that the pace of the slump will slow to 2.2% during the first three months of 1982. Then, by the second quarter of the year, the plunge should have leveled off, with no more than about 0.2% of decline in G.N.P. In the second half of the year, the economy is expected to snap back...
...board sees the pattern being repeated once again in 1982. By year's end, the board expects unemployment to stand at 8.3% of the labor force after peaking at 9% during the second quarter of 1982. Such a jobless rate would match that of the 1973-75 slump as the worst in the postwar...
...such an urge to merge? The long stock market slump has made the shares in hundreds of American companies tantalizing bargains. In case after case, firm, seeking growth have found it cheaper to buy other businesses than to build new factories or open new stores...