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Mild 1979 recession forecast from Time magazine board
Time magazine board of economists predicts a mild 1979 recession lasting two to three quarters with real GNP down 1 to 2 percent annually. Unemployment would rise to about 7 percent by year end, with 1.2 million more out of work. Prime rate could hit 13 percent as the dollar steadies amid a $6 to $12 billion trade deficit decline. Consumer prices may rise about 7 percent from December to December.
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New York
UPI
Time Magazine
Board of Economists
U.S