Fourth, and perhaps most significant, the state appears increasingly unable to sustain an adequate level of economic growth in the face of inflationary and recessionary trends.

But a report from City finance house County Natwest is more bullish, saying Britain will buck the global recessionary trend next year with growth of around 1.1pc.

Current recessionary trends in the United States have an even greater impact on Mexico because of the great economic dependence on the northern neighbor.

"The mall will definitely be impacted by recessionary trends in this area," said Mr. Loeb, "but it is a mall where you find that people have adequate incomes and adequate money to spend."

ICL plc software house, Transaction Point Ltd, Reading, Berkshire, went into liquidation last week citing recessionary trends as the reason for its collapse.

Economists say the Japanese economy has almost certainly begun to shrink, and many expect Taiwan, Malaysia, Thailand and the Philippines to show recessionary trends once they release their own second-quarter data.

She even said in an interview that contrary to the recessionary trend, her own department's budget will rise slightly for 1994.

"The next 5 years are projected to provide unabated mobile video adoption despite the recessionary trends in macroeconomic conditions."

Alice Ruth of Montgomery Securities in San Francisco downgraded the stock because of recessionary trends that could hurt sales.

(Further, that is, to the fall already brought about by recent recessionary trends.)