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PACIFIC WATCH

February 07, 1994|From Times Staff and Wire Reports

Economy Bounces Back: Inflation is down, the Australian dollar is up and the stock market is booming as the economy pulls out of its worst recession since the 1930s. And the forecast is for sustained growth, pegged to trade with the United States and the booming Asian economies. "There are clear signs that the economy is moving up a gear," said Alan Oster, chief economist at National Australia Bank. "I suspect we will be looking at an economy growing at an annual rate approaching 3.5%."

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