Word: upturning
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...purchases and sales: "Never in all my years have I seen this type of bearishness. The most recent figures show short selling running eight to ten times normal." Since Coe believes that the public becomes most bearish when the market is about at its bottom, he expects a sustained upturn before the end of the year...
William Butler, economist for the Chase Manhattan Bank, who has been predicting a 1961 recession for several weeks, revised his prediction only to add that "it now looks as though the recession is beginning in 1960. It came earlier than I expected." Butler expects no upturn to take place until mid-1961. Robert Adams of Standard Oil Co. (N.J.) assumes "a continued recession in 1961," with the low point to occur next year...
...speech was a plea for "complete and immediate" disarmament, but it came out as a threat. His words dropped heavily into the hushed chamber beside the East River: "We will not be bullied, we will not be scared. Our economy is flowering, our technology is on a steep upturn, our working class is united in full solidarity. You want to compete with us in the arms race? We will beat you in that. Production of rockets is now a matter of mass delivery-like sausages that come out of an automatic machine...
...recession or about to go into one, most economists agree that the U.S. is going through a tricky period. If final demand continues slipping, a recession would follow; if consumers take to buying with a will again and final demand turns up, the economy would enjoy a moderate upturn...
STEEL PRODUCTION has been slipping since January's near capacity, last week was scheduled at 53.9%. The big post-Labor Day upturn predicted by many steelmen has failed to materialize, and most have given up predicting when it will come...