Prosperous Decade Forecast: The 1990s should be...

Prosperous Decade Forecast: The 1990s should be more prosperous as the result of new economic competition, according to the new First Interstate Bancorp Economic Forecast. “Competition among the Untied States, a much more unified Europe, Japan and the newly industrializing economies of Asia will promote economic growth,� according to Jerry Jordan, senior vice president and chief economist. He added that the U.S. economy is likely to weaken in the latter part of 1989, with softness spilling over into early 1990. California’s growth rate will also be reduced due to the national slowdown and a decline in defense spending, he said.