Word: upturn
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...upturn was what put Washington in a cherry-blossom mood. "I thought the figures would be good," said Assistant Commerce Secretary William Shaw. "I just didn't expect them to be that good." Even April sales of autos showed a sharp increase for the first ten days of this month. Chrysler reported a 25% rise, struggling American Motors had an 8% gain, and General Motors improved sales by 5%. Only Ford was still off with a 9% decline from last year. "People," said Pontiac General Sales Manager Thomas L. King, "walk into showrooms now in a buying rather than...
...minutes from January. In February, also, average real take-home pay for factory workers slipped from $98.81 a year ago to $97.11. But for all that, one bright note was heard last week. After running a new survey of consumer sentiment, Michigan's Dr. George Katona reported an upturn from the November-December low. Higher-income families especially were satisfied that they would either make more money this year than last or at least make as much as last year. Moreover, retail prices are generally holding firm and even falling in scattered instances; in Miami last week, the Winn...
...aura of humbleness." Nor did that aura grow after President Johnson, during a 1964 TV address, called him "a leading industrial economist" and reeled off figures from a bullish Rinfret forecast. Since last summer, Rinfret has been on the side of the bears, predicting a "mild recession" with no upturn in sight until at least the fourth quarter...
Although the upturn left bears licking their wounds, few Wall Streeters were willing to bet that the bulls were firmly on top once more. In spite of some rosy earnings reports-IBM last week reported a record third-quarter profit of $131 million-many investors are still worried about the possibility of an economic downturn next year...
...stimulating production through a combination of incentives and labor-force reduction. That would mean carrying workers as unemployed-anathema to Marxists. It would also be a threat to central planning. Unfortunately, old-line functionaries, anxious to preserve their jobs and perquisites, have dug in. Pointing to a modest upturn in the lagging Czech economy (the result of a peak investment cycle), the purists have stalemated a large part of the new model...