Word: upturn
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Dates: during 1970-1979
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...meeting last week, the Board members revised only slightly their specific forecasts for 1974. Several who had looked forward to an upturn starting at midyear now think it will be delayed until the fourth quarter. That will produce only 1% real growth or less-.3% says IBM's David Grove. But most cling to forecasts that unemployment will peak at about 6% (Nathan, an exception, guesses 7% or more) and that consumer prices this year will average close to 9% higher than in 1973. Though scarcely cheery, those latter predictions are little worse than those made a few months...
...election campaign. Smith showed up at his office overlooking Manhattan's East River by 8 a.m. the next morning, greeting old friends and pecking out the brief, curt notes to American executives for which he became famous. Said an official of the airline: "Employee morale took an upturn in the last 24 hours the like of which has not been seen here in years...
...profits after taxes should bounce up about 14%, although profit margins-earnings as a percentage of sales-will be well below the highs of the mid-1960s. But the continued gains in earnings should finally persuade skeptical executives, who until now have lagged behind consumers in spending, that the upturn is finally at hand. TIME's economists expect that businessmen's fixed investments in new plants, office buildings and machines will increase some 12%. Their spending to expand inventories should rise from last year's rather meager $6 billion to $12 billion or more...
These regional variations pose a problem for economic planners of the second Nixon Administration. They will have to judge when the national upturn becomes overexuberant and should be dampened to head off a new inflation. But when that point is reached nationally, it may well have been far overshot in Florida, Houston and perhaps Chicago, while New England and New York may still be below economic...
...feelings. Yet to the extent that there is a pro-Nixon vote on economic issues-as distinct from an anti-McGovern vote-it reflects not so much conservative ideology as an "I'm all right, Jack" attitude among the many voters whose tunes have improved during the exuberant upturn of the past year. "The farmer is going to vote Nixon." declares William L. Lanier, who raises soybeans and tobacco in Georgia. "For the first time in years, the farmer is making profit." Indeed, the Administration in the past year has lifted from subsidies by $1 billion, to $4 billion...