Word: upturn
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Dates: during 1940-1949
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...hearing because his forecasts have been more accurate than those of most economists. Writing in the New York Times Magazine, Slichter said businessmen like Vermont's Senator Ralph Flanders were right in attacking the "psychology of fear" but, unlike them, Slichter did not think the economy's upturn would have to wait until people got back their confidence...
...upturn was coming, said Slichter, whether people had any confidence or not. The reason: people are already consuming goods faster than the U.S. production machine is turning them out. For five months, said Slichter, while many businessmen cut back their inventories, consumption has been outrunning production...
...warned that power-men should not be lulled into thinking that long-term demands would lessen just because business had started to slip off. Said he: The current slide in business might last until the second quarter of next year. By the end of 1951, there should be an upturn that may bring production right back up to where...
...Chairman Nourse dozing a bit himself? Most Government economists and almost all businessmen had been banking on a strong spring upturn to check the recession. So far, no sizable upturn had come. Instead, production in April (as measured by the Federal Reserve index based on the 1935-39 average) had tumbled another 5 points to 179. The index stood a full 16 points below last November's postwar peak of 195. This was the sharpest five-month drop since the 1945 reconversion shakeout after...
Some gloomy guessers had feared that 1949 would not see the usual seasonal spring upturn in the U.S. economy. But last week, there were hesitant signs that it had started...