Word: slumping
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Dates: during 1950-1959
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...under stand its new economy, so Canadians discovered that their young, dynamic land was increasingly able to stand on its own feet. Canada did not tumble into the V-shaped chasm that threatened briefly to trap the U.S. economy. If anything, Canada's recession was milder than the slump in the U.S. Except in the winter months, unemployment hit a smaller part of the working force in Canada. Industrial production sagged less sharply, recovered earlier. At year's end Canadians added up a new $32 billion record for Gross National Product...
...Angeles, which got off fairly well after Thanksgiving, then had a bad slump when mid-December turned unseasonably hot, finally got a bit of brisk weather. Shoppers surged into the stores in such numbers that some places reported sales 10% above 1957. What made merchants everywhere particularly happy was that buyers headed for the expensive goods. Said Cyril Magnin of San Francisco's Joseph Magnin: "All the higher-priced lines in everything did very well." Philadelphia reported a year-end run on jewelry and furs. Said Max Robb, president of the City Stores chain: The customers of all income...
...recession, although it speeded up and enlarged present housing and social security programs as antirecession measures. It gave the economy's carefully built-in stabilizers a chance to work and relied on the nation's own basic good health to recover from the slump...
Cushions & Nudges. The important thing was not to let the slump in manufacturing spread. And there the economy's built-in cushions proved their value in helping keep personal income ($353.3 billion) at record levels. As labor incomes slipped $6.2 billion by April, chiefly from the declines in autos. and thus in steel, payments from unemployment insurance, pensions, social security, etc.. automatically climbed $5.5 billion (to $26.1 billion annually) and took up the worst of the slack. Increasing federal, state and local outlays for needed schools, hospitals, dams and roads helped keep construction growing to a record...
...comedy series, whose reruns are still "in orbit." Discovered at last, Backus made 47 feature movies (best role: James Dean's father in Rebel Without a Cause). But Backus ("always too early or too late'') began his movie career at the start of Hollywood's slump. He often suspects that papa was right. Once that businesslike gentleman from Cleveland sniffed scornfully around the movie lots, pronounced one studio a "firetrap" and another "land poor." Soon afterwards, the first studio had a fire and the other has since taken to drilling for oil to boost the bankroll...