Word: slumping
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Dates: during 1960-1969
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...this year. Even so, few predict anything worse for the economy than what Leon Keyserling, former chairman of the White House Council of Economic Advisers, calls "a period of stagnation." With federal, state and local government spending on the rise, with housing starting to recover from its 1966 slump, with unemployment low and incomes continuing to grow, most analysts figure the economy will move ahead firmly in the second half of the year...
Thank goodness for the Dartmouth hockey team! There's nothing that could lift the luckless Crimson skaters out of their slump as surely as Saturday's 8 p.m. game with the Indians...
More in Michigan. Faced both with declining revenues as a result of the automobile sales slump and the need for increased state expenditures, George Romney asked the Michigan legislature for state income taxes on individuals (21%), corporations (5%), and banks and other financial institutions (8%) to balance record expenditures of $1.15 billion, up $128 million from last year. If new taxes are not levied, he warned, the budget will drop $147 million into...
...will be no easier. Chairman Michael Haider thinks that the proposed 6% tax surcharge would not hurt much, but that loss of the 7% investment tax credit could be important in a company that spends $1 billion a year on expansion. - IBM might ask, "What fourth-quarter slump?" since its profits were up 13%, to a record $142 million. For the year, it had its 15th earnings record in a row, with $526 million for a 10% rise over 1965. But because of start-up costs for its System/360 computers, earnings have lagged behind sales, which rose...
...Germany's deepening business downturn, few areas of the economy have suffered more than the auto industry. Production, which increased 12% in 1965, rose a bare 3% last year (to 3,000,000), and automakers entered 1967 with a worrisome 360,000 unsold cars. So severe is the slump that mighty Volkswagen, fourth largest automaker in the world (after the U.S. Big Three), is learning to think small again. Off Volkswagen's assembly lines at Wolfsburg last week rolled the first of its new Model 1200 sedans, which VW executives call the Wirtschaftskrise Käfer-the "economic...