The Economist (US), June 27th, 1992
Just when the US seemed to be entering a period of economic recovery came the word that the unemployment rate jumped to 7.5% in May. While inflation seems to be under control, a lasting recovery probably depends on increased business investment.
IT IS as though the economy has paused, excruciatingly, before two paths. One leads up to a moderate recovery that, by the end of year, delivers economic growth of 3-3.5%. That is slight by the standards of past recoveries, but not to be sniffed at now. The other path slithers downwards, to growth in the 1-2% range that has dogged George Bush's presid...
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