Word: gdp
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Enter Santa, dressed as the GDP. Late in the week, with both sides still struggling to close the deal, a bounding U.S. economy closed it for them. The Congressional Budget Office quietly informed budget negotiators that the economic boom would produce an unexpected surge in tax revenues that would shrink the deficit by an estimated $225 billion over five years. As if to confirm it was not a mirage, evidence of the economy's strength kept emerging all week. First came news that during the first quarter, gross domestic product was up 5.6%, the biggest gain in a decade. Then...
...study in contrasts. "The multinational manufacturers are today stronger than they've ever been," thanks to the weak yen (currently trading at 124 to the U.S. dollar). But "small and mid-sized Japan is going through a brutal rationalization." In four years, Courtis predicted, "we'll see 10% of GDP wiped out through liquidation of these companies." The big question is whether a new tax program announced by the government--equivalent to a whopping 2% of GDP--is too strong a medicine. If not, said Courtis, "in six to nine months there will be a dramatic turnaround in the Japanese...
WASHINGTON, D.C.: Thanks in part to a strong Christmas shopping season and a sharp spike in 1996 exports, the Gross Domestic Product expanded by a healthy 2.5 percent last year, according to the Commerce Department. The fourth quarter GDP growth of 4.7 percent was the largest since the spring of 1994, and far exceeded the expected 3.8 percent increase. At the same time, inflation dipped to just 2.1 percent in the fourth quarter. Even though the GDP grew 25 percent more last year than in 1995, when it rose 2 percent overall, few market anaylsts expect a worrisome raise...
WASHINGTON, D.C.: Thanks in part to a strong Christmas shopping season and a sharp spike in 1996 exports, the Gross Domestic Product expanded by a healthy 2.5 percent last year, according to the Commerce Department. The fourth quarter GDP growth of 4.7 percent was the largest since the spring of 1994, and far exceeded the expected 3.8 percent increase. At the same time, inflation dipped to just 2.1 percent in the fourth quarter. Even though the GDP grew 25 percent more last year than in 1995, when it rose 2 percent overall, few market anaylsts expect a worrisome raise...
...making it much harder for the stodgy Japanese bureaucrats to maintain the country's advantage. In fact, Japan's mandarins have kept borrowing to prop up the economy with massive public-works projects, running the national debt up to nearly $4 trillion--just about as much as the GDP--by far the worst record in the developed world...