Powered by rising corporate and consumer spending, the economy is zipping ahead faster than most experts had earlier anticipated. Alan Greenspan, a member of TIME'S Board of Economists, forecasts that the gross national product this year will expand by $101 billion—comfortably ahead of the Administration's original goal. Next year, says Greenspan, the G.N.P. should do even better, increasing by $111 billion, to an awesome $1,263 billion or so. Sweeter still, Greenspan predicts that more than 6% of this year's growth will be real and not caused by rising prices. Another board member. Otto Eckstein, puts the growth figure at $101...
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