Word: upturn
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Dates: during 1980-1989
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...layoffs, and losses that at one point reached $5.2 billion, executives of the Big Three automakers (General Motors, Ford Motor Co. and Chrysler) have grown understandably wary of predicting almost any sort of recovery at all. Ford President Donald Petersen bluntly asserts: "There are no signs whatsoever of an upturn yet." Last week automakers reported a 13.4% sales rise during the mid-September period as compared with depressed 1981 levels. But analysts noted that the gain was something of an aberration, coming largely from temporary price promotions to customers...
Schlevin attributed the act of vandalism, which he said was the first attack on Jewish property in Providence in years, to a combination of anti-Israeli feeling due to the Lebanon invasion and domestic economic problems. "This would all disappear if the economy took an upturn," he added...
There are no visible signs of an early upturn in labor's fortunes. The weak U.S. economy is likely to keep unions on the defensive. Last week the Government released figures showing that unemployment remained at 9.8% in August, the highest level since 1941. The number of jobless workers in the U.S. now stands at nearly 11 million. Laments William Winpisinger, president of the International Association of Machinists and Aerospace Workers: "You cannot organize workers who don't have jobs...
...wobbly, fragile and anemic upswing is that interest rates, despite their declines, are still much too high to encourage any big revival in such credit-sensitive industries as housing and autos, which are the ones that traditionally lead a vigorous recovery. Some economists speculate that this time the business upturn will be sparked by the buying of smaller-ticket items: clothing, furniture, even computer games. They see the 1% rise in retail sales in July as a hopeful sign of increased consumer spending...
...first, continue beyond a year or so and lead to a sustained period of increasing production, incomes, jobs and living standards? That would belatedly vindicate President Reagan's view that the recession was the bitter price that had to be paid for future healthy growth. Or will the upturn sputter along at half-speed through many months or even years of continued high unemployment, until the economy slips into a new recession? Some liberal economists warn that this may happen, and conservatives by no means dismiss the possibility...