Abstract

Happy Days Again?
Henwood, Doug | February 21, 1994 issue

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For those who follow such things, it was fairly stunning news when the U.S. Commerce Department announced on January 28 that the U.S. economy grew by 5.9 percent in the last quarter of 1993. Not only was this above the estimates of all but the most deranged bulls. It was the best performance since the end of 1987, the quarter of great market crash. That crash, widely dismissed as a product of computerized trading techniques of little general interest, was the beginning an extended period of fiscal crisis and record-breaking mass insolvency. So assume growth settles back to 3 percent but continues indefinitely. The rate probably isn't strong enough to boost jobs and incomes much.

See Also:

UNITED States -- Economic conditions; UNITED States. Dept. of Commerce; STOCK exchanges; COMMERCIAL markets; SECURITIES markets; UNITED States
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