Word: downwards
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...wage levels. The result has been a profit squeeze that has led many firms to cancel expansion plans and forced them to raise prices. Higher prices have hurt exports, while wage boosts have increased consumer demand, which has raised imports. Economists agree that increased consumer spending cannot offset the downward pull of reduced corporate spending and exports...
Thumbs Up. The Commerce Department's monthly Business Cycle Developments (TIME, Nov. 3, 1961) lists 30 leading indicators; when more than half of them point downward, many economists conclude that a recession is on the way. Including the sharp stock price drop, which is considered one of the most significant clues, 17 of the 30 now have thumbs down. On the bright side, two meaningful indicators, price per unit of labor costs and housing starts, were headed up last week (see chart...
Mysterious tunnels, cutting into the cliffs of the citadel, were explored by an expedition members. Winding for some 300 feet down the north face of the towering Acropolis, the tunnels continue downward in a spiralling staircase. The expedition hopes to discover next year whether they led to a water source or to some important building of the city...
...somehow, our excess nuclear armament has failed to promote stability in world politics. The Soviet Union called off the moratorium on nuclear testing last year, and reversed the hopeful downward trend in its military expenditures. When disarmament talks resumed at Geneva this year, the Russians proved to be more than ever obsessively concerned with their geographical security aid resistant to early inspection...
...market's sudden drop echoes the signals given off by the Commerce Department's economic radar - the 30 "leading indicators" which, though still not completely compiled for August, seemed likely to show a slight downward trend in the economy. In the nation's brokerage houses, however, another set of figures loomed larger: average daily volume on the New York Stock Exchange so far in September has poked along at a bit over 3,000,000 shares, dishearteningly down from the gilded days of 1961 when daily volume averaged more than 4,000.000 shares. For the brokers, whose...