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Economy

October 07, 1994|From Times Staff and Wire Reports

Corporate Heads See Growth Slowing to Moderate Pace: The economy is headed for a "soft landing," with growth slowing to a moderate pace next year as interest rates continue to rise, leaders of the nation's largest corporations predicted. Nearly 100 active and retired chief executives, members of the elite Business Council, gathered for a semiannual conference in Williamsburg, Va., to compare notes on the economy. The corporate heads also said they expect inflation to increase but that it will peak at low single-digit levels, well below the price spirals that plagued earlier periods of growth. Only a few predicted the inflation rate would rise as high as 4%.

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