Word: slumping
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Dates: during 1980-1989
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...doing now. For example, the U.S. used to enjoy years of rising production, incomes and employment between recessions. But as 1981 begins, economists generally believe that the nation is slipping into another downturn only about five months after getting out of the last one. And the 1980 slump was exceptionally severe: it knocked down the output of goods and services at an annual rate of 9.9% in the second quarter, added 1.7 million people to the jobless rolls in April and May, and contributed to the largest quarter-to-quarter surge in unemployment ever recorded in statistics that date back...
...aggressive Japanese are a key factor in the European auto slump. Hardest hit are countries that do not have an agreement with Japan to limit imports. In Sweden, for example, Volvo and Saab assembly lines have been working three-day weeks. The Japanese have increased their market share in that country from 1% in 1970 to 14% at present...
...Sophomore defenseman snapped out of an O-for-varsity (22 games) scoring slump with three goals and three assists in non-league action over vacation, including two goals and an assist against Minnesota-Duluth December 30. He realizes his primary duties are at the blueline, but Sheehy will have an eye out for an opening when the Harvard hockey team (5-6 overall, 4-4 ECAC) returns to league action tonight at B.C.'s McHugh Forum in a 7:30 contest...
...most ominous aspect of the current slump is its global reach. Even during the severe 1973-75 recession that racked industrialized nations, growth in developing countries, such as Brazil, South Korea and Singapore, continued to move ahead. The thirst of those countries for imports from machine tools to tractors helped keep production lines working in the U.S., Europe and Japan. That expansion and the ever higher oil bills, though, were paid for by increasing doses of credit from Western banks. As a result, the developing countries have piled up a staggering $450 billion in debts. Now the banks have grown...
...textiles and shoes, are rapidly becoming uncompetitive in world markets. Guido Carli, president of the European Community's Union of Industries and former governor of the Bank of Italy, foresees no growth in the Italian economy this year, after a comparatively robust 4% rise in 1980. The slump should slow inflation to about 16% by next December...