Word: growths
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Dates: during 1970-1979
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Germany's Schmidt publicly committed himself to a 5% annual rate of economic growth, even if it requires stimulating his economy a bit more than he would prefer. Most of the other leaders had been pressing a reluctant Schmidt to do more to help world economic recovery...
Carter's chief economic adviser, Charles Schultze, a longtime liberal, detailed the case for restraint. Pinning his projections mainly on expansion in that old Republican ward, the private sector, Schultze projected economic growth totaling 22% over a five-year period, creating 9.7 million jobs and reducing unemployment from its current level of 7% to 4.3% by 1981. At the same time, the inflation rate (now above 6%) would be pared to just over 4%. Growth alone, said Schultze, would allow Carter to balance the budget, but federal spending could not be permitted to increase much more than...
...controls for the past year, once again is being traded on the free market and is holding steady at 882 to the dollar. But an unchecked inflation, now running at 21.8% a year, threatens these achievements. In order to check prices, Premier Giulio Andreotti is planning to reduce economic growth to zero this year...
...general, Europe's outlook is murky. The United Nations Economic Commission for Europe predicts that Europe's real G.N.P. growth this year will average only 3%, its foreign trade will increase only 5.5% (v. 11% in 1976), and prices will rise an inflationary 9%. The message of these figures: stubbornly high unemployment will continue...
...locomotive. It has just about recovered its preslump level of industrial output (97%), and its export performance is awesome; the trade surplus totaled $14 billion in 1976. But unemployment remains high at more than 1 million, or 4.6% of the labor force. Chancellor Helmut Schmidt has forecast a 5% growth rate in 1977, but several reliable economic institutes now expect a shortfall, indicating the need for stimulus. Despite fears of inflation, Schmidt is backing a $7 billion revival program with $1.5 billion to be spent this year...