Word: slumping
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Dates: during 1980-1989
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Even as some Administration officials cited signs that the recession may be nearing an end, new government statistics were measuring the toll the slump has taken. The Labor Department reported last week that one out of every five American workers, or 23.4 million people, were out of work during part of 1981; that is 2 million more than in the previous year. The Census Bureau also noted that 32 million Americans, or 14% of the population, lived below the poverty line in 1981 ($9,287 for a family of four), the highest poverty rate since 1967, when...
With the homebuilding industry in a long-running slump, profits in the plumbing fixtures business have been swirling swiftly down the drain. For companies that make tubs, toilets, sinks and showers, it would seem a time to retrench...
Kohler views a recession as a grand opportunity to increase his share of the kitchen and bathroom business. Because of the slump, he points out, some building materials cost less than they did in 1980, and thus the construction of new factories is comparatively inexpensive. During the recession in 1973-75, Kohler expanded its facilities enough to overtake American Standard as the largest manufacturer of luxury plumbing fixtures...
...nightmare is both grim and grimly plausible. A ruinous new energy crisis once again doubles or triples oil prices. Economies are battered, and governments around the world topple. In the U.S., business goes into a slump that can be compared only with the Great Depression...
Some analysts were nervously wondering whether Iran's invasion of Iraq would reduce oil shipments, thus drying up the remains of the petroglut and pushing prices higher. Most experts, though, felt that the war is unlikely to trigger an immediate crisis because the global economic slump continues to hold down energy use. But the energy situation will again become dangerous once world economies start growing. Writes Yergin: "The more likely flash point occurs when accidents interact with a market in which demand is rising, as was discovered in 1973 and 1979. Thus, the world enters the danger zone when economic...