Word: growth
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Dates: during 1980-1989
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...goods and services. On April 26 the Commerce Department announced that the GNP grew at a moderate annual rate of 2.3% in the first quarter of 1988. Experts interpreted the figure as proof that the economy was running smoothly. A month later, Government statisticians boosted first-quarter GNP growth to 3.9%, a change of nearly 70%. Suddenly, investors had reason to fear that the economy was overheating and that inflation was in danger of accelerating...
...Government reports a quarter's GNP after data for only the first two months are available; the statisticians make educated guesses about what happened during the third month. In this instance, an unexpected surge in exports in March led to the radical change in the calculation of the growth rate...
Congress and a growing number of slow-growth rebels have joined the preservationists. "What price are we willing to put on our heritage?" asks Congressman Robert Mrazek, a New York Democrat whose office walls are lined with photographs of Civil War generals. "You can't hallow the sacrifice of those soldiers who died fighting for freedom with a Burger King or a Bloomingdale's." Mrazek and Texas Democrat Michael Andrews have introduced legislation authorizing the Federal Government to seize Stuart's Hill from the developers, at a cost of $35 million or more...
...recent report by the Organization for Economic Cooperation and Development, tourism in Turkey is growing faster than in any of the two dozen other OECD countries surveyed. The report concludes that earnings from Turkish tourism increased 215% between 1981 and 1986. Japan was a distant second, showing a 95% growth in tourist earnings over the same period...
...early 1960s followed the most sustained period of affluence and growth in American history. My generation was heir to that affluence, and everybody thought that the world was America's oyster. With that kind of economy, almost anything seemed possible," says Miller...