The exceptional degree of slowing
so evident toward the end of last year (perhaps in part the consequence of adverse weather) seemed less evident in January and February.
Nonetheless, as they had at previous meetings, members expressed particular concern about the outlook for prices in the absence of appreciable slowing
in the growth of aggregate demand, which appeared to be adding to pressures on labor resources.
Current indicators pointed to the continuation of very rapid growth in such spending over the near term, but some moderation was likely over the course of coming quarters in conjunction with the projected slowing
in the increase of overall demand and the very large buildup in the stock of capital that already had occurred in recent years.
The prospects for inventory investment remained a key uncertainty in the outlook in that developments in this sector could well have an important bearing on the extent of the anticipated slowing
in the expansion of overall economic activity over the next few quarters.
Cosmic expansion speeds up instead of slowing
In the second quarter, a strong recovery in nonresidential construction activity from the weather-related decline of the first quarter offset a marked slowing
in business purchases of durable equipment.
El Nino boosts the atmosphere's angular momentum by slowing
down the tropical easterlies and speeding the westerlies outside the tropics, says Salstein.
Recent information on building permits and contracts suggested some further slowing
of the decline in nonresidential construction.
Chu, now at Stanford University, developed a method of slowing
atoms in 1985.
The common midpoint of the forecast ranges for CPI increases in 1991 and 1992, 3 1/2 percent, masks the downtrend in core inflation anticipated over the next year and a half In particular, most of the slowing
of inflation observed thus far this year has reflected the sharp drop in energy prices and a move toward smaller increases in food prices; excluding food and energy, the deceleration in the CPI so far has been relatively small.
M2 velocity is likely to increase further over the second half of the year; however, a substantial slowing
of M2 could suggest more restraint than would be consistent with sustained upward momentum of the economy, and thus the Committee reaffirmed the established range for M2 growth for 1990.
Makishima of the University of Tokyo and his colleagues, who report the Ginga results in the June 23 NATURE, argue that the ring orbiting the neutron star has probably reversed its direction, and the incoming matter is slowing
the star's spin.
In response to the slowing
in overall demand, manufacturers quickly adjusted output to prevent a large buildup of inventories.
If the shift is too large, the atoms no longer absorb laser light and stop slowing
An increase in lender--and borrower--caution more generally points to some slowing
in the pace at which nonfinancial sectors take on debt relative to their income in 1990.