Word: upturn
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Dates: during 1960-1969
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...Wall. A new wave of walkouts in the fall could weaken the economy just when there was widespread hope for a vigorous upturn. On the other side of the coin, lavish labor settlements, coming on top of undiminished spending for the Viet Nam war, would surely add to the dangers of inflation...
Steel production, for example, sank to 62 million tons in the first six months of this year, for its lowest first half since 1964-in great part because of dwindling orders from the auto industry, steel's biggest customer. But an upturn in Detroit's August orders for 1968 auto models has brightened steelmakers' outlook. U.S. Steel Corp.'s new president, Edwin H. Gott, last week predicted a normal steel output during the July-September quarter, followed by "material improvement" in the final quarter of this year...
...that 8,300,000 cars would be sold in the U.S. in 1967. This would make it the third best year in history, after 1965's record 9,300,000 sales and last year's 9,000,000. All that was needed, Detroit figured, was a springtime upturn in sales. This month, with spring in its waning days, something of the sort was finally evident...
...their part, U.S. manufacturers are eager for the 1968 model-year changeover. Because of the recent sales upturn, the number of new cars remaining in showrooms should be at a manageable level when 1967-model production ends this summer. Indeed, so low have inventories shrunk already -Oldsmobile's F-85, for example, now has only a 28-day supply-that Detroit actually anticipates a newer, more pleasant headache. Even before 1968 models come out, manufacturers may actually run out of some 1967 models...
Hoping to steer ailing American Motors Corp. back to health, Board Chairman Roy D. Chapin Jr. recently prescribed price cuts for his slow-moving Rambler American economy line. The first sales figures showed an encouraging upturn-and Chapin, dining in a Chicago restaurant, cheerily ordered strolling musicians to play Just in Time. The American's $1,839 base price - well under that of any other U.S. compact and only $200 more than the Volkswagen-has indeed helped tune up sales, which in April rose 8% over the same month last year, to 7,371 cars. Nevertheless, as of last...