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Recession

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NEWS
April 6, 2004
WHERE IS the recession the Democrats are so loudly complaining about? Some pertinent facts: 1. It is next to impossible to get a room in Atlantic City for any weekend. 2. Ninety percent of the summer rentals at the shore have been taken. 3. Tickets to concerts, theaters and sporting events are at a premium. At restaurants, the lines are out the door. 4. The steel mills are booming, the casinos are packed, homes and cars are selling like there's no tomorrow. 5. A Bucks County friend sold 60 building lots ($200-400,000)
NEWS
December 17, 1991 | BY JEFF MADRICK, From the New York Times
The wait-and-see economics of President Bush has taken a heavy toll. The drop in November's employment sharply raises the odds that the recession isn't ending. In a time of high debt, the biggest dangers lie ahead. But the president persists. The other day, inching closer to the facts, he called the economy's performance "unacceptable," but offered no new proposals for growth. He plans to wait until next month. Don't blame the White House alone for not taking strong action.
BUSINESS
April 26, 1991 | From Inquirer Wire Services
You knew it was a recession. We knew it was a recession. All those people who were thrown out of work knew it was a recession. Now even economists agree it's a recession. The National Bureau of Economic Research, a private group whose economists officially decree when U.S. recessions begin and end, yesterday announced that the U.S. economy was in a recession and that it began in July. That means the downturn started even before Iraq invaded Kuwait, sending oil prices skyrocketing.
BUSINESS
April 13, 2010 | FROM INQUIRER WIRE SERVICES
The panel of academics responsible for deciding when United States recessions begin and end said Monday it's too soon to declare the current slump over. The National Bureau of Economic Research said that although most barometers show improvements in the economy, it would be "premature" to pinpoint the end of a recession based on economic data seen so far. "Many indicators are quite preliminary at this time and will be revised in coming months," the bureau's Business Cycle Dating Committee said.
NEWS
May 16, 2013
PARIS - The eurozone is now in its longest ever recession - a stubborn slump that has surpassed even the calamity that hit the region in the financial crisis of 2008-09. The European Union statistics office said yesterday that nine of the 17 EU countries that use the euro are in recession, with France a notable addition to the list. Overall, the eurozone's economy contracted for the sixth straight quarter, shrinking by 0.2 percent in the January-March period from the previous three months.
NEWS
December 1, 1990 | From Inquirer Wire Services
The government's chief barometer of future economic activity fell in October for the fourth straight month, the Commerce Department reported yesterday, offering further evidence that a recession has started. The department said its Index of Leading Economic Indicators fell 1.2 percent in October. Three consecutive declines in the index have been viewed as a fairly reliable, but not infallible, sign that a recession is approaching. President Bush, speaking at a news conference yesterday, attributed at least part of the economic weakness to Iraq's invasion of Kuwait in August and the subsequent rise in world oil prices.
NEWS
September 29, 1992 | BY WAYNE WORTHY JR
No matter how often I see it, I am always amazed to view the success that results when people unite and work toward a common goal. Some of the most insurmountable obstacles in mankind's history have been overcome when people put aside racial, economic, and social differences and work together to overcome a problem that affects them all. One of the biggest problems of the '90s has been the recession, and all of us are affected by it, directly...
NEWS
November 15, 1991 | BY JUDE WANNISKI, From the New York Times
The economy stinks and it's not getting any better. President Bush, I'm sorry to say, is to blame. Two years ago it was possible for those of us who had supported him in 1988 to blame the Democratic Congress for inviting stagnation by opposing the president's tax proposals. A year ago, as the recession became reality, blame still could be divided between the White House and Congress as they cut a deal to raise taxes. Today the whole mess can only be laid squarely in the Oval Office.
BUSINESS
November 10, 1987 | By MARC MELTZER, Daily News Staff Writer
To many market watchers, the predominant message that Wall Street has been sending since the Black Monday crash is clear: a recession is on the way. The five-year-old raging bull market had been predicated on the belief that booming economic growth would persist. But then, on Black Monday, Oct. 19, the bull's legs gave out. And it's been stumbling around ever since. "The market always anticipates what's going to happen," said Jeremy Siegel, professor of finance at the Wharton School.
BUSINESS
November 1, 1989 | By Robert A. Rankin, Inquirer Washington Bureau The Associated Press contributed to this article
Despite signs of economic slowdown, leading U.S. manufacturing companies do not expect the economy to stumble into recession before 1991, according to a survey released yesterday by the National Association of Manufacturers. Manufacturers expect 1990 to be a year of slow growth, steady low inflation and slightly increasing U.S. exports, primarily to Western Europe, the survey revealed. "You are not going to have a recession if inflation doesn't get out of control, causing the Fed to tighten (the money supply)
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ARTICLES BY DATE
BUSINESS
February 9, 2016
There are few signs of an impending recession. So why is everyone using the "R" word? Wall Street's thinking goes like this: Flat returns in the stock market make it harder for the Federal Reserve to raise interest rates, and in turn, the Fed's lack of action concerns investors about U.S. economic expectations. That's the feedback loop, as explained by local strategists and money managers. Guy LeBas, fixed-income strategist at Janney Montgomery Scott in Center City, dove into the details.
BUSINESS
February 1, 2016
The stock market slide has been dizzying. Since the start of the year, stock prices have plunged by more than 10 percent, their worst start to any year on record. There is increasingly ominous talk among investors that the troubled stock market is signaling, or may even precipitate, a recession. Ignore the talk. While the stock market decline is disconcerting to watch, as the late economics Nobel laureate Paul Samuelson once quipped, "Wall Street indexes predicted nine out of the last five recessions.
NEWS
December 28, 2015 | By Tricia L. Nadolny, Staff Writer
Mayor Nutter is not one to complain about his job. It is a gig he has loved, maybe never more so than in his last year, which he took on with a mix of nostalgia and joy, rarely focusing, at least publicly, on the end. But on a recent afternoon in his office, still cluttered with papers and not a moving box in sight, Nutter conceded that being "up" for the better part of eight years has been taxing. "Not just awake. Up," he said. "The moment I step out of that car in the morning, I know that people are looking.
NEWS
December 19, 2015
TRENTON A bill that would require grade school students to get at least 20 minutes of recess a day was approved by the Assembly on Thursday. If it wins full legislative approval, the law would apply to students in kindergarten through fifth grade. If possible, recess would be held outdoors. "In addition to giving children time to recharge during the school day, recess allows students to develop their social skills and get some physical activity," said Assemblyman Joseph A. Lagana (D., Bergen)
BUSINESS
December 9, 2015 | By Chris Mondics, Inquirer Staff Writer
Gaetan Alfano, a name partner in a Center City law firm known nationally for its work in commercial litigation and whistle-blower lawsuits, is scheduled to make his inaugural address as chancellor of the Philadelphia Bar Association on Tuesday amid concern over the group's flat membership and complaints it has lost relevance. Alfano, a member of Pietragallo Gordon Alfano Bosick & Raspanti L.L.P., argued in a recent interview that the association remains critical to the lives of lawyers in Philadelphia, and pointed to initiatives such as efforts to block a proposed sales tax on professional services under consideration in Harrisburg.
NEWS
November 30, 2015 | By Rita Giordano, Inquirer Staff Writer
Want to know the deal on recess? Go to the experts. "We can exercise!" said Collette Guerin, one in a gaggle of second graders rocking the playground last week at Zane North Elementary School in Collingswood. "You can use up your energy so you're calmer," chimed in classmate Celia Titcombe. Lilly Stout spoke for all: "It's so fun!" In time, schoolchildren all over New Jersey may join in that chorus. A bipartisan-backed bill recently cleared the state Assembly's Education Committee that would require school districts to provide a daily recess period for students in kindergarten through the fifth grade.
BUSINESS
August 4, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
One in an occasional series Brian Martin, 33, almost gave up on being a bricklayer during the recession. He loved the work but couldn't get any, so he joined the vast army of construction workers rendered jobless by the worst economic downturn since the Great Depression. "I thought about going back to school," said Martin, of Glenolden, taking a break from work at the University of Pennsylvania's newest dormitory, the New College House at Hill Field. Up on the scaffolding, Rocco D'Angelico, 59, said he managed to keep working as a bricklayer during the recession, but now he's looking toward retirement because of "all the aches and pains in my bones.
NEWS
July 1, 2015 | By Tricia L. Nadolny, Inquirer Staff Writer
In City Council's often-bustling chambers, the curtains are drawn and the lights dimmed to a soft glow. The 17 mahogany desks are cleared, save for a few copies of bills and a soda can left by advocates who favored a soft-drink tax to fund Philadelphia schools - a fight now in the rearview mirror. This room will get little use this summer, as Council takes its annual three-month legislative break. It's among the longest recesses taken by any major city council in the country.
ENTERTAINMENT
June 27, 2015 | By Michael Harrington, Inquirer Staff Writer
Pop quiz! Settle down! 1. The name of the Seattle-based band Recess Monkey is an example of what kind of groan-inducing joke? 2. The band's moniker refers to a simian that is native to what region of the world? 3. How much fun are they? (Answers at this item's end.) A power trio of elementary-school teachers (one is lead singer and guitarist Drew Holloway, who grew up in Wayne and graduated from Upper Merion), Recess Monkey purveys a pure pop that appeals to all ages in an interactive and funny show.
BUSINESS
June 6, 2015 | By Jane M. Von Bergen, Inquirer Staff Writer
At first blush, this is a headline screamer: Philadelphia region brings up the bottom in job recovery. How bad is it? So bad that the region's wretched post-recession job-growth performance makes the beleaguered city of Detroit look like a rock star, based on a Pew Trust analysis of U.S. Labor Department Statistics. Of the nation's 50 top metropolitan regions, Philadelphia ranked 47th, with 4.7 percent increase in jobs since the darkest days of the recession. At the top, San Jose, Calif., grew 23.7 percent, followed by Austin, Texas, at 22.6 percent, and Nashville at 19.3 percent.
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