Word: steep
(lookup in dictionary)
(lookup stats)
Dates: all
Sort By: most recent first
(reverse)
...month. Administration officials admitted that the recession was still spreading throughout the economy. New factory orders tumbled 2.6% in May, their fourth straight month of decline. The index of leading economic indicators, a barometer of future business trends, fell another 2.4% in May. But the decline was not as steep as April's appalling 4.1%, hinting that the economy's free fall of the past several months may be slowing...
Administration officials are having an increasingly difficult time seeing silver linings. Treasury Secretary G. William Miller conceded that the downturn has been "quite steep," but then added that the worst of the recession "may be behind us." Miller's optimism, however, has a weak record. In September he proudly announced that the recession was "half over." At that time it had not even started. But despite the rapidly deteriorating economy, Miller steadfastly insisted last week that the Administration had no plans at present to introduce a tax cut to stimulate business. He said that fighting inflation must continue...
...country meanwhile continues to struggle with an economic slump that is sure to drive Detroit's depression still deeper. Durable goods orders dropped a steep 4.2% in April, and retail sales declined 1.2%. Spokesman Jody Powell said President Carter now believes that Americans no longer need to heed his imprecation against credit card use and urged them to begin spending more freely again...
While the economy continues its steep decline, most economists still do not foresee dramatic runups of unemployment as in 1974. The consensus is for a recessionary unemployment peak of about 8% by year's end. Leif Olsen, chief economist of New York's Citibank, says that talk of 12% is a "bit panicky." Says AFL-CIO President Lane Kirkland: "Unemployment is going to be in excess of 8% by the end of the year under present circumstances." But Economist Michael Wachter of the University of Pennsylvania, among the most pessimistic on jobs, sees the rate reaching a high...
Buddy, can you spare a dime? Apparently not when it is added to the already steep price of gasoline. Ruling on a suit to prevent Jimmy Carter from imposing a 10? per gal. conservation fee on gasoline, U.S. District Judge Aubrey Robinson Jr. concluded that the President had exceeded his authority. If the decision is not overturned on appeal, Carter's already battered energy program will suffer further damage. In addition, the loss of $10.3 billion in anticipated revenues from the fee will tip the precariously balanced fiscal 1981 budget into...