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Politics : Formerly About Applied Materials

AMAT 329.07

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Feb 10 3:59 PM EST

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To: StanX Long who wrote (54956)	11/1/2001 12:12:15 AM
From: StanX Long	Read Replies (1) of 70976

U.S. Economy Shrinks 0.4 Percent Wednesday, October 31, 2001 foxnews.com WASHINGTON — The economy, battered by a yearlong slowdown and the jolt of the terror attacks, shrank at a 0.4 percent rate from July through September, a decline that could signal the end to the longest economic expansion in U.S. history. President Bush blamed the decline on a falloff in consumer confidence that he said could be expected given the devastating nature of the Sept. 11 terrorist attacks and events since then. "After all, we're at war," Bush said. The drop in the gross domestic product — the total output of goods and services produced in the country — was the biggest since the first quarter of 1991 when the country was in the depths of the last recession, the Commerce Department reported Wednesday. The weak performance reflected a sharp pullback by consumers in spending, which slowed to the weakest pace in more than eight years, and a continued plunge in investment by businesses in new plants and equipment.

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