Word: upturn
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Prices will continue to rise less and less controllably as long as businessmen, union leaders and consumers take it for granted that they can always count on the Government to intervene to prop up jobs, incomes and profit. Reflation now, they say, might produce a momentary upturn, but it would only lead to another round of price rises, another consumer panic, another slowdown in business investment-and a more devastating bust. They worry that...
Some glimmerings of trends that could produce an upturn are visible. The Federal Reserve has eased off on its credit squeeze, interest rates are dropping and money is once more beginning to flow back into savings and loan associations. Eventually that should help housing and such allied industries as furniture and appliances-though not for many months, because S and Ls have to repay debts before they can start making new mortgage loans. The strike of 120,000 coal miners, which has badly deepened the recession in the past few weeks, seems on its way to an end; the United...
REAL GROWTH will lag. The economists expect it to be slightly negative or flat in the first half. There should be an upturn toward the end of the year created by increases in consumer spending and somewhat improved conditions in housing. Nevertheless, 1975 will probably mark the second consecutive year of a decline in output, a lull unmatched in a generation...
...most demographers contend that even if such an increase occurred, it would be temporary. "Any upturn in the birth rate would be just another fluctuation around the major continuing downward trend," says Philip Hauser, director of the Population Research Center at the University of Chicago. "It would fend off zero population growth a little longer, not forever...
...battered by soaring inflation and a declining economy, the nation's housing industry recently has been jolted by another blow: skyscraping interest rates that are drying up mortgage money and threaten to depress construction even further. A continuing slide in housing would seriously diminish chances for an economic upturn later this year, and last week the Administration attempted a rescue. President Nixon announced a series of steps that would pump $10.3 billion in cash and credits into the sagging industry...