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Expecting weaker profits at technology companies in particular, he would not be surprised if earnings fell by 10-15%.
ECONOMIST: Asian equities
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Thinking that a downturn may be near, retail investor Hiromichi Kobayashi placed set-price orders below the market on Thursday morning on some issues, surprised to see them executed so quickly as prices fell.
WSJ: Japanese Stocks Fall Sharply
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Nawab fell to the ground, holding his groin with both hands, entirely surprised, shocked, as if the man had slapped him for no reason.
NEWYORKER: Nawabdin Electrician
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The unemployment rate, which has repeatedly surprised economists with the speed of its descent, did so again: it fell to 8.3%, a three-year low, from 8.5%.
ECONOMIST: Employment springs to life; will it fade again?
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In real terms, you might be surprised to hear that there were only two years in Thatcher's time when spending fell at all.
BBC: Margaret Thatcher: The economy now and then