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...collected more than $200,000; a local radio station held a 48-hour telethon two weeks ago and raised $36,000. According to Riva, the town's patriotism "has never been higher, but there is increasing anxiety that war may affect this haven of peace in ways none dare predict." Father Fidencio Gago, the parish priest, was holding a special Mass every evening, leading the community in a simple prayer: "We beseech you, Mary, Holy Mother of Christ, that peace will come soon...

Author: /time Magazine | Title: Falkland Islands: Explosions and Breakthroughs | 6/7/1982 | See Source »

That was the verdict of TIME'S Board of Economists, which met last week in Manhattan to assess the state of the U.S. and world economies. For now, the economists predict that consumer spending will increase sufficiently to give the U.S. a 3.3% annual growth rate during the second half of the year...

Author: /time Magazine | Title: Spotlight on the Consumer | 6/7/1982 | See Source »

There were a few hints last week that business might soon be starting to pick up a little. The Commerce Department reported that its index of leading economic indicators, which attempts to predict future business trends, rose .8% in April-its first increase in twelve months. Auto sales increased a surprisingly strong 12.3% during the middle ten days...

Author: /time Magazine | Title: Spotlight on the Consumer | 6/7/1982 | See Source »

TIME'S economists foresee no renewed outbreak of feverish jumps in the C.P.I. They predict that the index will meet the Administration's targets by rising just 5% for all of 1982 and 5.7% in 1983. The economists were particularly cheered by an unexpectedly sharp drop in the so-called core rate of inflation, which measures the inflationary impact of wage gains. That key indicator has fallen to about 6%, from a high of about 9% in 1980. Said Walter Heller, chief economic adviser to Presidents Kennedy and Johnson: "A sustained period of 6% core inflation...

Author: /time Magazine | Title: Spotlight on the Consumer | 6/7/1982 | See Source »

...year's third and final installment of the personal income tax cut, and for major savings on defense. Those and related steps, he argued, could whittle the 1985 deficit to a manageable $75 billion. That would be a major drop from the $233 billion deficit that some experts predict...

Author: /time Magazine | Title: Spotlight on the Consumer | 6/7/1982 | See Source »

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