Word: upturns
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...greatest for any January since the Depression--is that workers are now exhausting their unemployment benefits. Half a million have already received their last check. Before the half-year is out, 1,500,000 will be without benefits, and the prospects for a quick upturn in the economy are practically nil. In his State of the Union message, President Kennedy admitted that the slump may last through...
Canada, like the U.S., will probably come out of its recession in 1961. Most economists predict a sharp upturn during the latter half of the year, which may soothe the complaints about the U.S. But the tides of nationalism are running strong, and the U.S. can expect to hear more and more about that jaw-cracking word "Canadianization...
...outpouring of prognostication, economists across the U.S. last week were in remarkable agreement about where the U.S. economy is going in 1961. Their consensus: The recession will last into the first half of 1961 but will get no worse, will give way to an upturn in 1961's second half, which should make 1961 a better year than 1960. None felt that the gross national product will drop more than 1% or 2% before the upturn...
None of the economists could spot any signs of an immediate upturn. Louis Paradiso, chief statistician for the Department of Commerce saw "easing-off indicators dominating the economic scene...
...Upturn in '61. Looking over the economy's resiliency in the face of sluggish business, the Commerce Department's chief statistician, Louis Paradise, predicted that the business slowdown will end and a fresh upturn will begin after mid-1961. "I don't think it's at all clear at the moment that we are headed for any serious downturn," said Paradise. Paradise's views were echoed by George Champion, president of the Chase Manhattan Bank, who will take over as chairman Jan. 1. He sees the U.S. economy undergoing a "mild readjustment" that should...