PRESIDENT GEORGE W. BUSH Message Board

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Politics : PRESIDENT GEORGE W. BUSH

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To: Kenneth E. Phillipps who wrote (482667)	10/28/2003 1:09:46 PM
From: Hope Praytochange	Read Replies (2) of 769670

Economists are expecting economic growth at a blistering pace in the third quarter, in the range of 6 percent to 7 percent. The government will release the economy's third-quarter growth figure Thursday. In the final quarter of this year, economists believe the economy will expand by around a 4 percent pace. Consumers are spending sufficiently to keep the economy going. Manufacturing is improving. A long freeze on business investment shows signs of a slow thaw. In September, for the first time in eight months, the economy added jobs -- 57,000 of them -- helping to keep the unemployment rate steady at 6.1 percent. Sustained turnarounds in capital spending and in hiring are crucial to the economy's return to full throttle. Economists said business wants profits to improve and wants to be sure of the recovery's vigor before they go on a spending and hiring spree. Against this backdrop, Fed policy-makers are widely expected to hold the funds rate -- the interest that banks charge each other on overnight loans -- steady at 1 percent at their meeting Tuesday. An afternoon announcement was expected. Leaving the funds rate alone would mean the prime rate also would remain at 4 percent. nytimes.com

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