1
 Britain's current account deficit dropped to #1.6 billion 
5001
span

2
($2.56 billion) 
1
restatement

3
in September from an adjusted #2 billion 
5002
span

4
($3.21 billion) 
3
restatement

5
the previous month,
5003
Same-Unit

6
 but the improvement comes amid increasing concern 
5004
span

7
that a recession could strike the U.K. economy next year. 
6
elaboration-object-attribute-e

8
 The Confederation of British Industry's latest survey shows 
9
attribution

9
that business executives expect a pronounced slowdown, 
5006
span

10
largely because of a 16-month series of interest-rate increases 
5007
span

11
that has raised banks' base lending rates to 15%. 
10
elaboration-general-specific-e

12
 The outlook has deteriorated since the summer, 
5020
span

13
with orders and employment falling and output at a standstill, 
12
elaboration-general-specific

14
said David Wigglesworth, chairman of the industry group's economic committee.
5020
attribution

15
 He also said 
16
attribution

16
investment by businesses is falling off. 
5011
span

17
Of 1,224 companies surveyed, 31% expect to cut spending on plant equipment and machinery,
5012
Comparison

18
 while only 28% plan to spend more. 
5012
Comparison

19
 But 
5015
Same-Unit

20
despite mounting recession fears,
21
concession-e

21
 government data don't yet show the economy grinding to a halt. 
5014
span

22
Unemployment, for example, has continued to decline, 
5016
List

23
and the September trade figures showed increases in both imports and exports. 
5016
List

24
 As a result, Prime Minister Margaret Thatcher's government isn't currently expected to ease interest rates before next spring, if then. 
5025
span

25
Chancellor of the Exchequer Nigel Lawson views the high rates as his chief weapon against inflation, 
5019
span

26
which was ignited by tax cuts and loose credit policies in 1986 and 1987. 
25
elaboration-additional-e

27
Officials fear 
28
attribution

28
that any loosening this year could rekindle inflation or further weaken the pound against other major currencies. 
5018
span

29
 Fending off attacks on his economic policies in a House of Commons debate yesterday, 
30
purpose

30
Mr. Lawson said 
5026
span

31
inflation remains the greatest threat to our economic well-being 
5029
cause

32
and promised to take whatever steps are needed 
5029
span

33
to choke it off. 
32
consequence-s-e

34
The latest government figures said 
35
attribution

35
retail prices in September were up 7.6% from a year earlier. 
5030
span

36
 Many economists have started predicting a mild recession next year. 
5032
span

37
David Owen, U.K. economist with Kleinwort Benson Group, reduced his growth forecast for 1990 to 0.7% from 1.2% 
5031
List

38
and termed the risk of recession next year quite high. 
5031
List

39
But he said 
40
attribution

40
the downturn probably won't become a major contraction similar to those of 1974 and 1982.
5033
span

41
 Still, Britain's current slump is a cause for concern here 
5037
span

42
as the nation joins in the European Community's plan 
5038
span

43
to create a unified market by 1992. 
42
elaboration-object-attribute-e

44
Compared with the major economies on the Continent, 
45
comparison

45
the U.K. faces both higher inflation and lower growth in the next several months. 
5039
span

46
As a result,
5041
span

47
 Mr. Owen warned, 
46
attribution-e

48
investment will be more likely to flow toward the other European economies 
5040
Consequence

49
and the U.K. will be less prepared for the single market. 
5040
Consequence

50
 Britain's latest trade figures contained some positive news for the economy, such as a surge in the volume of exports, 
5045
span

51
which were 8.5% higher than a year earlier. 
50
elaboration-additional-e

52
But while September exports rose to #8.43 billion,
5046
Contrast

53
 imports shot up to #10.37 billion. 
5046
Contrast

54
The resulting #1.9 billion merchandise trade deficit was partly offset by an assumed surplus of #300 million in so-called invisible items,
5047
span

55
 which include income from investments, services and official transfers. 
54
elaboration-general-specific-e

56
 Despite the narrowing of the monthly trade gap,
57
concession

57
 economists expect the current account deficit for all of 1989 to swell to about #20 billion from #14.6 billion in 1988. 
5050
span

58
Increasingly, economists say 
59
attribution

59
the big deficit reflects the slipping competitive position of British industry. 
5051
span

60
When the country gets wealthier, 
61
circumstance

61
we tend to buy high-quality imports, 
5052
span

62
Mr. Owen said. 
5052
attribution

5001
span
5003
Same-Unit

5002
span
5003
Same-Unit

5003
multinuc
5005
Contrast

5004
span
5005
Contrast

5005
multinuc
5060
span

5006
span
5008
span

5007
span
5006
cause

5008
span
5022
span

5009
span



5010
span
5021
List

5011
span
5013
span

5012
multinuc
5011
elaboration-general-specific

5013
span
5021
List

5014
span
5017
span

5015
multinuc
5023
Contrast

5016
multinuc
5014
example

5017
span
5015
Same-Unit

5018
span
5024
List

5019
span
5024
List

5020
span
5010
span

5021
multinuc
5008
evidence

5022
span
5023
Contrast

5023
multinuc
5036
background

5024
multinuc
24
reason

5025
span
5036
span

5026
span
5027
attribution

5027
span
5028
span

5028
span
5063
span

5029
span
5027
span

5030
span
5062
List

5031
multinuc
5034
span

5032
span
5062
List

5033
span
5031
concession

5034
span
36
example

5035
span



5036
span
5056
span

5037
span
5043
circumstance

5038
span
41
circumstance

5039
span
5042
result

5040
multinuc
5042
Same-Unit

5041
span
5042
Same-Unit

5042
multinuc
5043
span

5043
span
5044
span

5044
span
5056
circumstance

5045
span
5049
span

5046
multinuc
5064
span

5047
span
5046
consequence-s

5048
span



5049
span
5058
Contrast

5050
span
5055
span

5051
span
5065
span

5052
span
5053
span

5053
span
5051
evidence

5054
span



5055
span
5058
Contrast

5056
span
5057
span

5057
span
5059
span

5058
multinuc
5057
elaboration-additional

5059
span
5005
summary-n

5060
span



5061
span



5062
multinuc
5028
circumstance

5063
span
5025
explanation-argumentative

5064
span
5045
evidence

5065
span
5050
cause

