Word: slowdown
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Even a mild slowdown in Europe's growth rate would be bad news for the U.S. economy. Washington has been counting on increased exports to Europe to help curb America's huge trade deficit, which hit a record $169 billion in 1986. But there is no assurance that Western Europe can keep up its present consumption of American imports ($59 billion last year), much less develop a greater appetite...
Such fees could backfire. Since instituting them four years ago, a number of Texas banks have seen a slowdown in the growth of ATM use. As a result, Dallas-based MCorp is dropping charges as of Sept. 1 for customers using its ATMs...
...influence from the White House." Without that evidence, foreign investment in U.S. securities, a crucial factor in underwriting the budget deficit, might well dry up. That in turn would undoubtedly lead to a vicious spiral of increased interest rates to woo back the creditors, resulting ultimately in a slowdown of economic growth and the doleful prospect of U.S. and possibly even global recession...
...heart of the slowdown is the world trade imbalance, in which the U.S. figures so crucially. Washington's trade deficit last year was $170 billion, in contrast to $149 billion in 1985 and $9.5 billion a decade ago. Japan and West Germany, on the other hand, piled up surpluses of $101 billion and $63 billion respectively last year. But there are glimmers of hope. The decline of the U.S. dollar by roughly 20% against other major currencies during the past 18 months has started to ease the American deficit somewhat. One especially heartening sign: the U.S. trade deficit...
...Chrysler-Renault agreement was the highlight of a surprisingly wild week of merger activity, which came at a time when many Wall Streeters had been expecting a slowdown in takeover bids because of tax reform and the insider- trading scandal (see following story). Chrysler, which began considering the AMC purchase last summer, estimates that it missed out on $100 million worth of potential tax write-offs on the deal on Jan. 1 because the advantages were eliminated by the reform legislation. Nonetheless, Iacocca was determined to buy AMC. Said he: "((The merger will)) strengthen both of us in what...