Cypher
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:30:03
Clearly some slowing in the pace
of spending was necessary.

:30:06
If the economy was to progress,
:30:09
in a balanced and sustainable growth.
:30:14
With the process likely intensified
:30:16
by the rise in the cost of energy,
:30:45
inventory sales ratios grows only slowly,
:30:47
even after the policy actions taken in January,
:30:52
the risk continues still towards...
:31:34
Just a reflex.

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