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Technology Stocks : Discuss Year 2000 Issues

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To: John Hunt who wrote (8332)	8/24/1999 7:40:00 AM
From: John Hunt	Read Replies (1) of 9818

Phil Fed survey - Y2K may shrink U.S. GDP in Q1 2000 << Forecasters in a new Philadelphia Federal Reserve bank survey see a one-in-four chance U.S. Gross Domestic Product will contract in the first quarter of next year due to year 2000 computer problems. The bank's quarterly Survey of Professional Forecasters, released on Monday, predicted a dramatic slowdown in growth to 1.9 percent in the first quarter of next year compared to an expected 3.9 percent pace for all of 1999. ``As they did in the past survey, the forecasters expect a noticeable slowdown in the first quarter of 2000, to 1.9 percent, reflecting the possibility of a year-2000 effect,' the survey said. ``Indeed, the forecasters are assigning a one-in-four chance to the possibility of negative growth in the quarter.' The 25 percent chance of negative growth forecast for the first quarter compares to a 7.0 percent probability seen in the fourth quarter of this year. >> biz.yahoo.com

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