Word: annual
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Dates: during 1990-1990
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...gross national product will shrink at an annual rate of 2.5%, after adjusting for inflation, in the fourth quarter, and show smaller declines in the first half of next year, according to TIME's panel. (The economy grew at an anemic 1.4% rate in the July-September quarter.) The downturn would meet the official definition of a recession, which is at least two straight quarters of falling GNP. The panel said the U.S. appeared likely to resume slow growth by mid-1991 as the Federal Reserve Board lowers interest rates to stimulate business activity. That scenario would amount...
...Annual "bests" and "mosts" express a human instinct for putting things in order. This year's crop also reflects a shift from a time of ostentation to one of restraint, unease and do-goodism -- plus flashes of camp and cheekiness...
Sorry, No Cigar Doesn't anyone return Fidel Castro's phone calls these days? The aging dictator saw most of his communist soul mates get tossed onto the dustheap of history, and the cash-strapped Soviets may be close to ending their $5 billion annual subsidy. Castro's efforts to expand tourism won't make up the difference...
...companies that make it. Foreign investors realize that in the chancy business of manufacturing popular art, Hollywood has an ever tighter grip on the world's pulse. Since 1985 the overseas take from U.S. films has doubled. Movies represent a robust portion of an entertainment industry that registers an annual $5 billion or so trade surplus...
Extending a courtesy given to other Cabinet officers, the Republican Governors Association welcomed an offer by Dr. Louis Sullivan, George Bush's Secretary of Health and Human Services, to speak at its annual meeting two weekends ago. Then, without much warning, the invitation was revoked. It seems that Sullivan's anti-cigarette stance didn't sit well with R.J. Reynolds and the Tobacco Institute, two sponsors of the gathering at Pinehurst, N.C. Sullivan had dedicated just one line of his remarks to antismoking efforts, but this apparently was still too much for the association and its supporters...