America's Import Appetite Will Weigh Down This Year's GrowthBy
The U.S. has the fastest-growing economy in the industrialized world. Now for the bad news. America's voracious appetite for imports, combined with weak demand overseas, means that foreign trade will be a big drag on U.S. growth in 1994. Last year's wider trade deficit robbed nearly a percentage point from the economy's 3.2% growth rate, and the damage this year is shaping up to be just as bad.
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