Conference Board Sees No Recession in 1990:...

Conference Board Sees No Recession in 1990: Higher oil prices will slow U.S. economic growth but not cause a recession in 1990 or early 1991, according to the Conference Board, a business-sponsored research group. It revised its forecast for the economy downward to a 1.5% growth rate in the third quarter, and annualized growth of 2.6% in the fourth quarter. It had forecast 2.3% growth in gross national product for the third quarter and 3.2% for the fourth. GNP is the total output of goods and services.