Word: trend
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Dates: during 1970-1979
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...most ominous trend was a turn-around in farm prices. They had declined steadily from March through June, but July wholesale food and feed prices soared 6.4%, or 110.9% at an annual compound rate. The rise will surely push up supermarket prices in another month or two, particularly for red meat and poultry. Future prospects depend largely on the weather; the July jump reflected the early effects of the searing Midwestern drought (TIME, Aug. 12), which will reduce food supplies...
...West Germans appear to be an exception to the trend. Last year for the first time they spent more money touring abroad ($6.5 billion) than the usual international champions, the Americans (who spent $5.4 billion). Though West Germany has economic problems, it also has millions of highly affluent people who continue to display an exceptional wanderlust. On the other hand, the U.S. this year will lead all other countries in gross income derived from tourism, an expected $3.25 billion. Indeed, Europeans who have the means find some of the best bargains in North America. Some 120,000 West Germans...
Plastow is also concentrating on exploiting Rolls-Royce's fame as a symbol of luxury, instead of joining the trend toward bringing out smaller, gas-saving cars. He recently kicked up retail prices of the popular Silver Shadow from about $25,500 to $31,000. Now he is preparing a new model, code-named Delta, which at $50,000 may be the world's most expensive production...
...help is in sight to break the trend. Stock prices last week sank to a 1974 low of 791 on the Dow Jones industrial average and closed at 792. Those brokerages that have invested heavily in bonds have been grievously hurt by soaring interest rates, since bond prices go down as interest rates rise; and last week rates went higher still. Several major banks lifted their prime rate to 12%, a figure unimaginable until this year...
...traditions," he says. It is this erosion that Hitchcock is trying to halt. If it is not stopped, he warns, "Roman Catholicism has the potential to be just another Protestant denomination," splitting into "fundamentalism or vague liberalism." The conservatives' struggle may be long but, he believes, "the trend is not irreversible...