Word: upturn
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Dates: during 1980-1989
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With the end of the sterile political feuds, Quebec has witnessed a dramatic upturn in its economy. Three new office towers are adding nearly 2 million sq. ft. of office space to Montreal's thriving real estate market. Other construction -- apartments, condominiums, new hotels -- is altering the Montreal skyline so fast that photographs taken only a year ago are already outdated. In Quebec City the building of a new downtown convention center and hotel complex has left the old historic quarter essentially unchanged. Hemmed in by the St. Lawrence River on the south and its ancient walls elsewhere, vieux Quebec...
This context helps explain why the MDC reacted with such seemingly unprovoked ire to the prospect of students celebrating on the banks of the Charles. What is a traditional celebration in the city now seems terrifying. There has been no increase in unruly behavior, no upturn in arrests. There has been a change in perception. That change has come about because of a new conception of what public events should be like. It is a pattern which can be traced across the country...
...budget was already in deficit. It took more than a year for Heller to convince Kennedy and two more years before a skeptical Congress came around. But once the tax cut was passed in 1964, the economy entered what now seems to have been a golden age. The upturn that began in 1961 continued for 100 months, still a record, while unemployment shriveled and inflation remained...
...invested heavily in high-yield, high-risk junk bonds and volatile mortgage-backed securities, which provide greater profits at lower cost than traditional home mortgages. That kind of speculative strategy works well when interest rates are declining, but it could be disastrous in the event of an interest-rate upturn, which is now occurring. In all, thrifts have absorbed more than 25% of the $100 billion in junk bonds currently afloat...
...Price's narrower vision is starting to produce what Control Data needs most at the moment: profits. The company is now more focused on what it knows best, computers, just in time to take advantage of an upturn in that business. Indeed, analysts expect Control Data to show a profit as high as $80 million for 1987, compared with a loss of $264.5 million last year...