Word: upturn
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Dates: during 1960-1969
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...industries likely to lose war business-autos, textiles, rubber, for example-are those that can readily turn to industrial and consumer markets. Automen predict a big demand for cars among discharged veterans, and the housing industry, now confronted with another pinch in its mortgage-credit lifeline, foresees a major upturn fueled by lower interest rates if peace comes. Such an upturn would also lift sales of appliances, furniture and retail stores...
...Steelmakers stand to benefit from any upturn in Detroit, and they sorely need some such boost. Hurt by competition from foreign imports and the cost of new equipment, most steel companies suffered sharp earnings declines in 1967. Net income of U.S. Steel, the industry leader, dropped 31%, to $172,499,331 on sales of $4.07 billion. While that decline was a year-long affair, several rival steelmakers-including Bethlehem, Republic and Inland-showed fourth-quarter profit increases as customers started stockpiling in anticipation of a possible steel strike next summer. Other metals companies, among them Kaiser Aluminum and Reynolds Metals...
Because of the recent upturn in home construction, a similar improvement is likely in the sales of such durable goods as major household appliances and home furnishings. With soft goods already running strong (this year's Christmas gift favorites include such items as lime-scented shaving lotions, textured hose and men's turtleneck sweaters) retail sales rung up during 1968 could increase by as much...
...automobile industry, where production dropped by 24% in the first seven months of 1967, expectations are general for an upturn in the fourth quarter. Volkswagen, which took the hardest beating, went back to full shifts in mid-August and now has a six-day working week. Companies returned from Berlin's recent radio and TV fair with full order books. Production of color TV sets is sold out till year's end. Inventories in industry as a whole have been running short, with an increasing number of companies about to start replenishing them...
What is being written - and said - is that unless there is a decided upturn in his fortunes before November 1968, Johnson may have to pack that suit case. Between unrest over urban upheaval, the war and the need to raise taxes, the President's popularity has shriveled almost to the vanishing point...