Word: forecast
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...ominous for the Prime Minister was the lineup of Establishment Tories who are now decrying her economic policies and lack of compassion. Calling monetarism "the uncontrollable in pursuit of the indefinable," Sir Ian Gilmour, who was Deputy Foreign Secretary until Thatcher purged her Cabinet of dissidents last month, bleakly forecast that if Thatcher's policies are not changed "we can say goodbye to the British economy...
Gregory Jackson, the center's assistant director, said yesterday the center's study is a short-term projection, whereas the bureau released a long-term forecast...
...budget business has created a fantasy world in which markets and interest rates plunge and rise on forecasts and prophecy. A change of a percentage point or two in assumptions about unemployment, the cost of living or gross national product can mean projected billions in Government income or deficit That, in turn, means more billions of change forecast in the private money markets, which shudder instantly to new speculation from Washington Ail error of one percentage point in unemployment estimates can add up to a $25 lion error in the budget sums...
...business loans, including the huge sums to finance megabuck corporate mergers like that between Du Pont and Conoco. The Administration has predicted that the deficit will shrink to $42.5 billion in 1982, and disappear altogether by 1984. But those targets are fast slipping away. The Congressional Budget Office forecast last week that the deficit would be $65 billion in 1982 and would total an extra $50 billion in 1984. As the Federal Reserve continues to restrict the growth of the money supply in its fight to bring down inflation, such unrelenting credit demand from the Government is bound to keep...
Moreover, Wall Street was alarmed last week over reports that the flood of red ink may be growing, since that will increase the rate of borrowing even more. Though the Administration is sticking to its July forecast of a fiscal 1982 deficit of no more than $42.5 billion, projections last week by the Congressional Budget Office put the figure at closer to $60 billion. The Data Resources economic forecasting firm expects a budget shortfall of as much as $66 billion in the year ahead. If those figures are correct, Washington next year will have to borrow perhaps $25 billion more...