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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (40096)	6/29/2001 9:46:50 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Some had expected that GDP will shrink..this last month in revision.. The final revision to first quarter GDP showed that the economy expanded by a paltry 1.2% during the quarter. This is 0.1% lower than the BEA’s previous estimate for GDP growth during the quarter. Weighing on the economy are declines in business fixed investment, inventory investment, and exports. The economy was able to grow during the quarter due to still healthy gains in consumer spending.

To: IQBAL LATIF who wrote (40096)	6/29/2001 10:08:37 AM
From: IQBAL LATIF	Respond to of 50167

<Much of the downward revision in estimated growth has been due to a more substantive decline in inventories than originally estimated. This is positive for future growth as businesses have worked hard to reduce their unwanted inventories and bring production back in line with sales.> This has the potential to take the SPX through the 200 days moving average at 1308-18 area, ..30th June should have been associated with lot more warnings and far steeper slow down to see the reversal ay a test of 1200-1218 area is a good sign for the market.