Word: upturns
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Dates: during 1980-1989
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...study makes it clear that the recent recession may continue to produce ill effects on the health of the American people for at least another decade, despite the current economic upturn...
First the recovery took off far more powerfully than nearly all experts had expected. Now the prospect of further giant federal deficits is raising fears that the upturn may abruptly end. Such concerns have sent the Dow Jones industrial average plummeting 110 points in the past month. At a meeting last week in Manhattan, the members of TIME's Board of Economists foresaw continued growth this year, but predicted that the recovery's pace would slow. Said Walter Heller, who was chief economic adviser to Presidents Kennedy and Johnson: "The expansion won't peter...
...given their problems, Moroccans are doing a lot of hoping these days-hoping that the dollar will weaken, hoping that the U.S. economic upturn will spread across the Atlantic, hoping that the rains will come. Hassan, meanwhile, continues to hope for a calm without a storm...
Pessimism has become so ingrained in Western Europe that even a modest economic upturn catches people by surprise. Six months ago, TIME'S European Board of Economists feared that the incipient recovery might be aborted by persistently high interest rates or a sudden crisis in the world's strained financial system. That did not happen, and, at their latest meeting in Paris, TIME'S board indulged in some unfamiliar, if mild optimism...
...reduce inflation from 12.4% in 1980 to 3.9% in 1982, the central bank eased up considerably in the last half of 1982 and early 1983. The change in policy helped push down the prime rate that banks charge for corporate loans, from 16.5% to 10.5%, and triggered an economic upturn last spring that was much brisker than expected. From April through September, the gross national product, adjusted for inflation, expanded at an 8.6% annual pace. The economy was so exuberant, in fact, that the Reserve Board decided to tighten slightly in late spring, and the prime rate later rose...