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To: Zardoz who wrote (65470)	12/29/2000 4:47:58 PM
From: iod_sherwood	Respond to of 99985

12/29 16:32 U.S. Economy: 3% 2001 Growth Seen, Lift in 2nd-Half (Update2) By Siobhan Hughes and Terry Barrett Washington, Dec. 29 (Bloomberg) -- The U.S. economy is likely to avoid recession in 2001, aided by a second-half spurt that boosts growth for the year to 3 percent, according to economists surveyed by Bloomberg News. Declining inflation and a small rise in unemployment should help prolong the record economic expansion into an 11th year. A slowing of consumer spending is the reason most analysts see next year's growth rate cooling from 2000's projected pace of almost 4 percent and the 3.7 percent annual average since 1992. ``It's going to feel like a tough year, but the past five years were special,'' said Mark Zandi, chief economist at Economy.com in West Chester, Pennsylvania. The economists are counting on Federal Reserve Chairman Alan Greenspan and his fellow policy-makers to give the economy a boost by cutting the overnight bank loan rate by at least half a percentage point next year, putting it at 6 percent or lower. President-elect George W. Bush also is pushing for quick action in Congress on a tax cut to keep the expansion on track. U.S. stocks are also likely to rebound next year, analysts said in a separate survey. The S&P 500 Index will probably increase about 21 percent next year, while the Dow Jones Industrial Average is seen gaining about 16 percent, according to a Bloomberg News survey of 14 Wall Street strategists. The S&P 500 fell 10.1 percent this year and the Dow index dropped 6.2 percent -- its first yearly decline since 1990. quote.bloomberg.com