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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Nadine Carroll who wrote (124879)	2/1/2001 11:13:47 AM
From: peter a. pedroli	Respond to of 769667

Billy's recession is on its way. the gutless do nothing worthless liberals that he brought to washington skated for 8yrs. and it has finally come full circle. the only hard choice these clowns made was NAFTA. you people just keep on sucking the back side of Billy while GW triangulates his way to the reforms this country has needed for 8yrs, that your boy couldn't or wouldn't bring. one other point, IF YOU ARE TO STUPID OR INCOMPETENT TO PUNCH A HOLE IN PIECE OF PAPER SCREW YOU. there were and are plenty of safeguards in place to assist the voter that needed help. if you noticed, most republicans had no problems. if you DEMS didn't have such a high drop out rate in everything but welfare you might have avoided this latest crises in your little minds. Number Shows Economy Not Growing The Associated Press Thursday, Feb. 1, 2001; 10:29 a.m. EST NEW YORK –– The overall economy failed to grow for the first time in 117 months, a key industry group said Thursday. Manufacturing activity fell to 41.2 in January, according to the National Association of Purchasing Management. The last time manufacturing registered that low a reading was in March 1991. A level below 42.7 generally indicates a contraction in the economy, said Norbert J. Ore, chair of the NAPM. Thursday's number "corresponds to a -0.6 percent annual decrease in real gross domestic product", Ore said. The NAPM report is closely watched because it is one of the first indications of economic activity in January in the important manufacturing industry. The figures are based on a survey of purchasing executives who buy the raw materials and supply for manufacturing at more than 350 industrial firms. A purchasing managers' index above 50 signifies growth in manufacturing, while a figure below 50 means contraction. Although the Tempe, Ariz.-based NAPM likened the January numbers to those of the 1991 recession, it allowed some room for optimism. "This technology-driven, global economy is more resilient and should be able to rebound more quickly than it did in 1991," said Ore. Of the 20 industries in the manufacturing sector, only "food and miscellaneous" reported that business improved in January. However, the food sector often fares better than others when the economy slows down. The news of a continued decline in manufacturing came amid a spate of reports this week indicating that the economy has slowed down more than analysts were expecting. On Wednesday, the Commerce Department reported that the GDP – the nation's broadest measure of economic health – increased at an annual rate of just 1.4 percent in the October-December quarter, providing dramatic new evidence of how rapidly economic activity has cooled since the summer. Many economists believe growth this year will slow to around 2.5 percent, but Federal Reserve Chairman Alan Greenspan said last week that activity in the current quarter is probably "very close to zero." In an attempt to boost growth in the economy, the Fed on Wednesday slashed interest rates by a half-percentage point – the second time in a month officials had made such a move. In making the move, the Fed maintained its stance that its chief concern is the threat of the economy stalling and falling into a recession. "The risks are weighted mainly toward conditions that may generate economic weakness in the foreseeable future," the Fed said.