Word: grosse
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Dates: during 1980-1989
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...White House is counting on much help from the Europeans this year, it is likely to be disappointed. That was the consensus of TIME's European Board of Economists, which met in London for its semiannual review of Europe's outlook. Average growth in the gross national products of the major West European nations will be a solid but unspectacular 3% in 1987, predicted Switzerland's Hans Mast, senior economic adviser to the Credit Suisse First Boston investment bank. The expected growth rate will be up slightly from 2.5% in 1986 -- not the kind of acceleration Washington has in mind...
ITALY. The Italian economy barreled along with a 4% growth rate last year. But that performance was partly the result of stimulative government spending that left a huge budget deficit amounting to 15% of gross national product. Carli warned that runaway spending was a serious threat to long-term growth. "How long," he asked, "can a country survive with public debt taking an ever expanding share of GNP?" Growth will slow to about 2.2% this year, he predicted...
...outsider independence. All the Huskers have going for them is that they are undermutts representing a very small, very poor town. But as every moviegoer knows, that is a guarantee that in the end, they are going to win big. And, just possibly, as every moviemaker dares hope, gross...
...domestic social programs tightly curtailed by Gramm-Rudman spending limits, few Congressmen can politically afford to support more overseas aid. Thus while the U.S. remains the world's largest single source of foreign giving, its contribution is the smallest among major industrial nations when measured as a fraction of gross national product...
...tide of imports has badly hurt domestic production. Along with its fourth-quarter figure, the Commerce Department announced last week that growth in the gross national product was a sluggish 2.5% in 1986, the lowest rate since the 1981-82 recession. The slump in the dollar's value, though, could prove to be less than a cure for that malaise. As the dollar falls and import prices rise, U.S. inflation could be rekindled. That in turn could lead to an increase in U.S. interest rates, which would hardly stimulate the economy and might blight the stock market's further advance...