Word: upturning
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...bottom in April 1958 in the jig time of nine months-two months faster than the 1949 recession and a full four months sooner than in 1954. At times, particularly during February and March, the current slide was sharper than in the other two recessions. But so was the upturn. Gross national product has apparently turned around after dropping for two quarters, v. a year of backing and filling in 1949 and a year of decline in the 1954 business downturn. Industrial production recovered in eight months, v. eleven months and twelve months before any steady rise took place...
...Harvard, economics assistant to the President of the U.S. since the start of Ike's first term, counseled his boss to resist the pressures for inflation-breeding, damn-the-deficits programs. The downturn would halt during the year's second quarter, Hauge firmly predicted, and then an upturn would slowly...
...second quarter did indeed see the end of the downturn, and by last week signs of upturn were visible (see BUSINESS) even through grey-colored glasses. With his predictions and counsel proved sound, Gabriel Hauge, 44, made a decision to return to private life. His new job: finance committee chairman of New York's Manufacturers Trust Co., fourth largest U.S. bank (after California's Bank of America, New York's Chase Manhattan and First National City...
Despite the general enthusiasm, many shrewd traders are skeptical of the current market level, feel the market is due for a retrenchment. The experts argue that prices are already so high that they discount both a business upturn and any acceleration the Mideast crisis might bring. "Korea brought a quick dip and then a quick recovery," said Ralph A. Rotnem, partner of Harris, Upham & Co. "But today the market is more vulnerable; people are paying twice as much for earnings now as in 1950." Bears point out that the Dow-Jones industrials in mid-1950 sold at eight times earnings...
...factor that helped trigger the rise is the upturn in the Canadian economy, heralded several weeks ago by a dramatic drop in unemployment. Canadians were showing new optimism, which always engenders speculation, and the boom was concentrated in speculative stocks that had gone ignored for months. Said a Toronto exchange member: "I don't think this would have happened four months ago, no matter what the drilling reports were. There was too much recession mood around then. But the thinking has been changing. It's a sign people are starting to think big again." Canadians gleefully termed...