Word: upswinging
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It was partly to counteract that impression that the board quickly pulled together preliminary figures for 1982, showing the role minority increases had played in the upswing, and held a third press conference, according to Robert G. Cameron, the board's executive director for research and development.
With rare unanimity, however, economists warn that the upturn, whenever it comes, will be painfully slow and gradual. Robert Ortner, chief economist of the U.S. Department of Commerce, ; observes that after past recessions the total output of goods and services on average has jumped 7% in the first year of...
One reason for the reluctant, weak, wobbly, fragile and anemic upswing is that interest rates, despite their declines, are still much too high to encourage any big revival in such credit-sensitive industries as housing and autos, which are the ones that traditionally lead a vigorous recovery. Some economists speculate...
There are grounds, though, for taking a hopeful view. By far the most important of these is the fairly steady, though irregular, drop in the inflation rate from its frightening peaks of 1979-80. During the 1970s, surges of inflation eventually undermined every economic upswing and led to new slumps...
Some analysts were nervously wondering whether Iran's invasion of Iraq would reduce oil shipments, thus drying up the remains of the petroglut and pushing prices higher. Most experts, though, felt that the war is unlikely to trigger an immediate crisis because the global economic slump continues to hold down...