Word: slumps
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Dates: during 1970-1979
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...Washington, President Ford's budget and the grim economic message accompanying it were being released to Congress and the press. Ford's predictions of continuing high inflation, falling production and three years of at least 7% unemployment amply fulfilled Board members' December forecast of the worst slump since the 1940s. Not surprisingly, the Administration's economy and energy policies stirred a sharp and critical response from conservative as well as liberal Board members (see ECONOMY & BUSINESS...
...last week, the answer was a resounding yes. Most of the eight members of the Board warned as early as February 1974 that at least a mild recession was coming -and in subsequent months urged the Government to switch to more expansive fiscal and monetary policies to alleviate the slump. Now they believe that the Administration's budget, even with its big deficit, will do very little in a $1.4 trillion economy to revive demand, spur production and thus begin restoring jobs. Asserts Tax Specialist Joseph Pechman: "If Congress were to adopt the Ford program lock, stock and barrel...
...center who has picked up eight goals and 16 assists in 18 games Joining him on the Quaker first line are sophomore Jim Hodge (8-14--22) and junior Ed Parkinson (9-8--17). In its last three games, however, the Pennsylvania offense has contributed to the team's slump by producing a total of just five goals...
...industry's new recession is still relatively mild. Advertising revenues generally were up about 5% last year. But costs soared, newspaper circulation dropped slightly, and classified-ad linage fell by as much as 25% at the Miami Herald, Boston Globe and other metropolitan dailies-largely because of the slump in hiring, home building and car sales. The price of newsprint, about $175 a ton in late 1973, hit $260 a ton last month. Magazine advertising pages were down 2% last year overall, and many executives fear that 1975 will be worse. Says Esquire Publishing Group President Jerry Jontry, whose...
Floor Traffic. Thus the sudden skid in car sales hit the already shaky economy with the impact of a runaway truck, toppling it into a much deeper recession than almost anyone had anticipated. Government economists estimate that the car slump accounted for fully half of the 9.1% decline in gross national product in the fourth quarter of 1974 and was the major factor in lifting the nation's jobless rate to more than 7%. Moreover, chances for even a moderate business recovery in the year ahead depend to an enormous degree on a resurgence of car sales...