Word: faltered
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Dates: during 1980-1989
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...that he is pruning his collection, the bewilderment is great. What artists fear is not so much that their prices will falter -- though that happened to Italy's Sandro Chia when Saatchi dumped him -- as that new traders can move in and, by buying blocks from Saatchi, bypass the artists' dealers and force prices up out of all proportion to those of their new work. Robert Ryman, one of whose chaste minimalist paintings made $1.8 million at auction recently (gallery prices: from $50,000 to $300,000), now thinks it "unfortunate" that he ever let Saatchi have twelve...
...some extent, however, action belies bravado. Consumer spending, which typically accounts for two-thirds of economic activity and provided most of the oomph for the expansion, is starting to falter. Auto sales have stalled dramatically, contributing to a drop in total retail sales of 0.4% last month and 0.1% in May, the first back-to-back monthly declines since September and October of 1986. Industry is showing the same trend. U.S. factories operated at 83.5% of capacity in June, down from a high of 84.3% in January, a strong indicator that the economy has passed the peak in its current...
Despite concerns that the expansion will falter, most economists believe a modest slowdown is necessary to suppress inflation, which had grown particularly stubborn in the past two years. Consumer prices rose at an annual rate of 5.9% during the first half of 1989, up from 4.1% last year. "The economy was running too fast for its own good," says Francis Schott, chief economist for Equitable Life Assurance. "It was working itself up to an inflationary frenzy...
...pact could still falter on the question of economic reform. Solidarity wants wages to be indexed to the inflation rate, currently 70%, and price increases for food and other necessities to be introduced gradually. Even so, said Solidarity representative Bronislaw Geremek, "after 45 years in a political desert, we suddenly find ourselves in a completely new situation...
That uncertainty about unfriendly takeovers is mirrored in the long-term prognosis for the leveraged buyout trend. While Harvard and other investors may be raking in the profits from LBOs today, economists say they think the buyout market will falter if the economy weakens...