Word: robustly
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...robust American economy has also made the U.S. a land of investment opportunity. Unlike other developed nations, America is currently basking in a sunny combination of strong growth and moderate infla- tion. After expanding at an annual rate of 9.7% in the first quarter and an estimated 5.7% in the second, the U.S. gross national product is expected to increase some 5.5% during all of 1984, or more than twice as much as the average for other industrial countries. U.S. inflation, meanwhile, has fallen to less than 5%. Last week the Government reported that wholesale prices did not increase...
Perhaps the truest identification, however, would be the "Economic and Political Damage Control Act." Economically, the bill is supposed to slow the tide of red ink, before the pressure of that tide pushes interest rates to heights that could damage the nation's robust economic growth. Politically, the bill will enable both Reagan and his Democratic opponents to claim that they took the first, indispensable, though concededly inadequate, steps to control deficits, while still deferring any really painful decisions on taxes and spending until after this year's elections...
American consumers will be best served if U.S. industry can learn to live with a robust dollar and the new reality of international competition. Too many companies became complacent in the 1950s and 1960s, when the U.S. had a big lead in technology and foreign competitors were still rebuilding their economies in the aftermath of World War II. Observes Robert Gough, a senior economist with Data Resources, a consulting firm: "The domestic market was so rich that the U.S. was not as aggressive in developing foreign markets as other countries." Many industries, including autos and steel, let factories become outmoded...
Nationally, too, the biggest problem for the apparent Democratic nominee is that the U.S. economy seems robust. Voters follow their pocketbooks, and the latest upswing in the economic cycle has coincided with Reagan's re-election campaign. Unemployment (7.4%) is down from double digits to roughly where it was when Reagan took office, and inflation (5.6%) has not been so low in a decade. When Reagan was sworn in, it was 13.5%. More important, most voters feel that times are good-and getting better...
...prime rate has climbed to 12½% in recent weeks, its highest level in 18 months. Credit demands created by the strong growth of the economy seem likely to push rates higher. In a revised report, the Government said last week that the G.N.P. had expanded at a remarkably robust 8.8% annual clip during the first quarter...