Word: downturn
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Dates: during 1950-1959
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...Bank. "The cost of living will rise. Hard goods will be immediately affected because a bigger share of consumer spending will go to the cost-of-living items [mostly soft goods]. And then we will have a drastic reduction in inventories and capital expenditures. I expect to see the downturn in late 1960 or early...
...July at a seven-month rate 32% above last year. So great is the demand for funds to finance home mortgages that Federal Reserve Board Chairman William McChesney Martin Jr. warned: "Overstimulation of building activity under currently developing boom conditions" must be held in check to avoid a later downturn...
...steel industry in holding its own against foreign competition is the dramatic change that has taken place in the industry since World War II. Steelmen have spent $12 billion for new plant and equipment, poured millions into research. Once a prince-and-pauper industry that lost money at a downturn in the economy, the steel industry has become so efficient that it was able to report healthy profits during the recession (1958: $877 million), while operating at only 60.6% of capacity. So much has the industry changed its complexion that steel stocks, once considered a risky speculation in a cyclical...
...that industrial prices have risen 2% since the recession low, sooner and more sharply than after the two last recessions, despite continued high unemployment and unused industrial capacity. The upsetting fact about this, said Balderston, is that the price level did not dip during the recession, perhaps because the downturn was so short. "The recent advances are piled on top of a level that never dropped down. When prices fail to decline during a recession, then they are in position to contribute to inflation during expansion...
...past decade Tabell has been pointing up. In 1948, when the Dow-Jones industrials were around 180 and Wall Street was expecting a drop, Tabell predicted an intermediate rise to 250, a rise to 450 by the mid-1950s. In the 1953 recession downturn, Tabell wrote that "this is the last buying opportunity" before a market rise that would "break through the 1929 top of 386 and carry to the 500-600 level by the late 1950s." In 1957 he predicted the market, then around 500, could work down to 430 (it hit 419.79). Later he noted, "The bull market...