Word: upturn
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Dates: during 1970-1979
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...baleful aspects of the industrial world's quickening economic upturn is the possibility of a resurgence of global inflation. That worry dominated the recent conference of President Ford and heads of government of six other industrial nations in Puerto Rico (TIME, July 12). One reason for their concern: an ominous new rise in the prices of industrial and agricultural raw materials, which, among other things, is making the morning cup of coffee an inflationary drink...
Some signs of a leveling off in the rocketing rise in demand are now beginning to appear, but many experts expect the buying pace to remain brisk and salutary in the months ahead. A temporary easing of the sales upturn sometime soon would scarcely be unexpected. Says Paul J. Markowski, chief economist of Argus Research Corp.: "Consumers are merely pausing to reassess the situation. We had a big rush of spending in March, so a slowdown is not surprising...
...upturn that began just about a year ago seems to be picking up speed. For example, the Government reported last week that real gross national product-output of goods and services, discounted for inflation-rose 8.5% in the first quarter, rather than 7.5% as first estimated. Corporate profits before taxes jumped 45% over the first quarter of 1975, to a near-record annual rate of $140.8 billion...
...humanity more effectively in the then celebrated "secular city." There are fewer new priests to replace those who left. Seminary enrollment, at a high of nearly 49,000 in 1964, fell to a low of 17,200 in 1975. Only this year has there been a modest upturn-an increase of some 800-indicating that the trend may have bottomed...
...companies rose a total 40% to 50% above the 1975 period. The leap, of course, was from profit levels that were sorely depressed, but it still indicates that the recovery is proceeding even more smoothly than had been predicted. The healthy earnings also promise that the economy's upturn will accelerate further in the months to come...