Word: forecasts
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...novel is considerably better than that bleak forecast promises. Certain scenes are vivid and memorable; a zeppelin raid over London achieves an eerie, horrifying beauty. And as the brothers' paths diverge in the 1920s, Deighton skillfully displays the tangled politics and passions that were leading Germany toward another disaster...
While markets continue to gyrate, a TIME survey of economists shows no recession in the forecast. -- Boesky faces the judge...
...surprising. Despite the stock crash, the plunging dollar and the scary new trade figures, most of the economists insist that America will muddle along next year with no recession, no significant rise in unemployment or inflation and only a modest increase in interest rates. Their median forecast is for growth in the gross national product, after adjustment for inflation, to slow only slightly, from 3.4% this year to 2.7% in 1988. Asserts Sam Nakagama of the Manhattan-based consulting firm Nakagama & Wallace: "Views are changing radically right now. It appears we are going to have a vigorous economy next year...
That boost in productivity will help U.S. companies to curb costs and keep prices under control. "We're going to have productivity-led growth," says Yardeni of Prudential-Bache. "And that doesn't necessarily push inflation rates higher." Among the economists polled, the median forecast for next year's increase in the Consumer Price Index was 4.6%, virtually the same as the 4.3% rise currently projected...
Only if the dollar's descent slows down will the U.S. at last enjoy an improvement in the trade deficit. Most of the economists surveyed said the dollar would indeed become more stable. Their median forecast has the dollar drifting down only 2.3% next year against the yen and 1.8% against the mark. At the same time, they predicted, the trade deficit will fall nearly 15%, from a record $175 billion this year to about $150 billion...