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Environmentalists and other die-hard conservation advocates question if the industry is overstating a cyclical slump.
Moreover, a protracted cyclical slump can lead to lower-trend growth.
Reprints Related items The Philippines' elections: Middle-class rageMay 17th 2001Economists now worry that two factors may make the present troubles more than a cyclical slump.
But that business is in the midst of a cyclical slump, with just $13 billion raised this quarter, down 25percentt from last year.
The assumption must be that many of the blocks will experience the usual cyclical slump, moving into multi-occupancy and possibly social housing.
A cyclical slump reduced potential growth, and the reduction in potential growth prospects led to further cyclical weakness, as spending declines when expectations are revised downward.
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They offset the cyclical slumps of more high-profile sectors like finance in New York or energy in Houston.
None of the extra spending is cut back during cyclical oil price slumps, so the lucky petro-states end up horribly in debt.
The homegrown contingent tends to shrug off the slump as cyclical or a byproduct of globalization.
Part of the slump is cyclical, reflecting America's weak economy.
WALL STREET JOURNAL Dimon and Blankfein Predict Rebound | As trading and investment banking revenue likely fell in the fourth quarter, Jamie Dimon, chief executive of JPMorgan Chase, and Lloyd C. Blankfein, head of Goldman Sachs, maintained that the slump was cyclical, Bloomberg News reports.
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