Word: grosse
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Dates: during 1980-1989
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...what many businessmen already knew through painful experience. The pace of U.S. economic growth, Baldrige revealed, took a sharp downturn in the second quarter, as American manufacturers continued to be hurt by a high level of imports. After expanding at a 3.8% annual rate from January to March, the gross national product increased at only a 1.1% pace between April and June, the slowest climb since the recession year...
...usual, the IMF is requiring Mexico to restrain its public spending, but the country will be allowed to run a budget deficit that amounts to 10% of its gross domestic product. Earlier in the negotiations, the IMF had wanted Mexico to trim its deficit to 5% of GDP. The new loans are intended to help Mexico boost its growth rate from an estimated -4% this year to 3.5% in 1987. If the economy falls short of this goal, or if the price of oil drops below $9 per bbl., the agreement calls for additional loans. In return, Mexico pledged...
...decline of the dollar has at least temporarily derailed the mighty export machines of West Germany and Japan. As the relative value of their currencies has risen, their products have become more expensive in the U.S. Partly for that reason, West Germany's gross national product decreased 1% in the first quarter, and Japan's .5%, its first contraction in eleven years...
...week of TIME's three Boards of Economists (see following story). In its latest economic outlook, the OECD noted that the state's share of the economy in 19 West European countries has begun falling for the first time since World War II. Public outlays accounted for 50.6% of gross domestic product in 1984, vs. 51.1% the year before. Even Scandinavia, where the welfare state achieved its fullest flowering, has caught the spirit. Says Nils Lundgren, chief economist of PK Banken, Sweden's largest bank: "Deregulation, market solutions and free enterprise are the order...
...third term in office after this month's parliamentary elections were all but nil. After the Tokyo economic summit in May, Nakasone appeared to be in deep trouble, having failed to persuade Japan's major trading partners to cool off the country's overheated currency. Worse, Japan's $ gross national product recently declined by .5%, the first such drop in eleven years. His policies of "administrative reform," aimed at curbing exports, cutting government expenditures and opening up Japan's domestic markets to foreign competition, were met with bureaucratic resistance at home. Nakasone also bucked Japanese public opinion by pumping...