Word: upturning
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...TIME Board of Economists predicted that the upturn will spread its benefits more broadly next year as companies reinvest their profits in plant and equipment that creates new jobs. That should help raise standards of living from Boston to Burbank, the economists said. "For Main Street America," Sinai declared, "the best is yet to come...
...instinct about it," says Shizue Tanaka, whose family runs Tanakatei, an upscale restaurant in Tokyo's posh Akasaka area. Tanaka's sentiments are now shared by most influential businessmen: a quarterly survey by the Bank of Japan, which tracks the mood in boardrooms, recently reported the first upturn in business optimism in five years. "The possibility is strong that the economy has moved one step toward recovery," says Bank of Japan governor Yasushi Mieno. "But we must carefully watch the sustainability and tempo of the upturn...
Despite the obvious fragility of the optimism, no one should discount the most heartening sign of all -- the fact that the mood of businessmen and investors is shifting, however delicately. The most unfathomable aspect of any upturn involves psychology: the more reasons people find to be hopeful about the economy, the more likely they are to act upon them. Economic indicators will flutter back and forth, but for the first time in years, the signs and statistics are drawing a sizable contingent of optimists...
...produced largely by his deficit-cutting program, which lowered interest rates (though the weakness in the economy had much to do with it also). In any case, the current surge is occurring most strongly in the industries most sensitive to the cost of borrowing: autos, housing, construction generally. An upturn there tends to boost sales of other products: the steel, rubber and glass going into cars; refrigerators, washing machines, furniture and paint needed to equip and decorate new or resold houses...
...last 10 or 20 years have seen a decline inreal revenue," says DeMay. "The trustees felt itwas time to set up a plan with which WHRB canreverse the downturn and start the upturn...