Word: offing
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Dates: during 1960-1960
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A new entry in the economic phrasemaking derby came from Charles L. Schultze of Indiana University, who described current conditions as "high-level creeping stagnation." The major reason for the economy's failure to rise strongly from the 1958 recession, said Schultze, was too much tightening of credit by...
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."
The Next Upswing. Outside the hearing room, the testimony was echoed by other economists. The U.S. Chamber of Commerce predicted a "mild" business slump for the first half of 1961 of "only 1% or 2%" in the gross national product. For the long run, the chamber was optimistic. In the...
In a survey by Dun & Bradstreet, top economists for U.S. corporations agreed that a further decline in overall business can be expected during the early months of 1961, with a recovery in the year's second half. About one-third thought the economy would get its main stimulus from...
The Commerce Department's forecast was also good news for the U.S. Government, which had expected exports to slip next year, thus worsen the U.S. balance-of-payments problem. Big exports of aircraft and raw cotton in 1960 were considered to be one-shot performances that would not be...