Word: shrank
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...these burdens weren't enough, Salomon's list of clients shrank further last week. The British government canceled plans for the embattled securities firm to act as London's key underwriter in the U.S. on the sale of $7 billion in British Telecommunications shares...
...republics, Slovenia seems the best poised to make a success of independence. Unlike Croatia, which contends with a militant Serbian minority, Slovenia is ethnically homogeneous. Internally it borders only Croatia. And Slovenia's economy shows a potential for robustness: although output shrank 9.6% last year, per capita production is on a par with the poorest members of the European Community. Still, foreign assistance is needed, so Slovenia had proceeded cautiously in order not to alienate potential donors...
...overall picture is no better. Last year, production shrank by five percent. And the unemployment rate hovers at around 40 percent...
Trade and Manufacturing. With exports growing impressively, the U.S. merchandise trade deficit shrank to $101 billion last year, the smallest imbalance since 1983. Resolution of the gulf conflict may have set the stage for further improvement. Kuwait will apparently be buying billions of dollars' worth of U.S. goods, giving the trade balance a strong, if one-shot, boost...
...recession so far has been steep and painful. During the October- December quarter, the economy shrank at an estimated 4% annual rate. Last week a barrage of grim statistics underscored the situation. Housing starts fell 13.3% last year, to the lowest level since the 1981-82 recession. Industrial production declined at a rate of 8% during the final quarter of 1990, and the tailspin showed no sign of a letup. Domestic auto sales during the first 10 days of January were more than 31% lower than during the same period a year ago. "Nobody is selling anything. Times couldn...