Word: turnaround
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Dates: during 1950-1959
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Promise of Growth. No less important was the turnaround, in 1958, from budget cutting to the beginnings of forward planning in foreign economic policy. One reason: Premier Khrushchev had dramatized economic warfare to millions of Americans fed on cliches about "handouts" when he proclaimed, "We declare war upon you in the peaceful field of trade. We are relentless in this, and it will prove the superiority of our system...
Slowest segment of the economy to respond to the Department's turnaround on spending is the aircraft industry. While Defense has placed many new orders, most companies are just entering the stage of stepped-up employment. With orders nicely backlogging. the spurt of inventory building and deliveries is at least three months away...
Most economists agree that there will be no strong turnaround in the economy until business stops living from hand to mouth and starts building up its inventories again...
After basking during late December in springlike warmth, with lawns still green and rosebushes foolishly budding, the Mississippi Valley and the U.S. East Coast last week got gales and snow and cold waves, and the spell of bad weather swept east as far as Russia. The reason for the turnaround, according to Meteorologist Jerome Namias of the U.S. Weather Bureau: the planetary wind was on holiday during the holidays. Now it is back on its job and trying to make amends...
...another last turnaround, TIME'S Art section this week is reproducing the prizewinners in the Art Institute of Chicago's 62nd showing of American art and the 25th biennial exhibition of American paintings at Washington's Corcoran Gallery as the awards are announced and the shows open. The Washington winners had already been picked. But the Chicago winners were not to be chosen until less than two weeks before the opening. Art Director Michael Phillips waited with a photographer in the gallery at the institute while the judges made their decision. Twenty-four hours after Phillips turned...