Word: sluggishly
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Dates: during 1980-1980
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Though few businessmen or bankers anticipate very much more than a sluggish and lackluster year ahead, most regard even that as an improvement over what might have been. Reports George Cloos, economist for the Federal Reserve Bank of Chicago: "There is not the gloom and despair that existed last spring. Some of the fear is gone...
...sluggish housing market is not only a bad omen for the current health of the economy; it is also a sure sign of more trouble to come. Because of years of insufficient construction, the U.S. has developed an acute shortage of moderately priced housing. More and more members of the baby-boom generation are now moving into the prime home-buying age group. Divorce, single-person households and the great migration of people to the Sunbelt and the Northwest have placed further strains on the existing housing supply...
...TIME Board of Economists sees sluggish growth and stinging inflation...
...economists, however, argued that those are false signs of a rebound. Said Republican Alan Greenspan, the head of a New York-based consulting firm: "I would expect that the incipient recovery will stall within the next eight weeks." The economists generally predicted that U.S. business will be sluggish next year. The board's median forecast for 1981 anticipates growth of 2.7%, although individual predictions ranged widely. Republican Murray Weidenbaum, director of the Center for the Study of American Business at Washington University in St. Louis, forecast a relatively brisk 4% expansion, but independent Economic Consultant Robert Nathan projected...
...growing demands by Americans for a risk-free society. Workers want guaranteed jobs with high salaries, and bosses want certain profits. Argues Thurow: "We have tried to combine economic progress with economic security. Everyone wants both, but everyone cannot have both." The result has been an undynamic economy with sluggish growth and chronically high inflation...