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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56758)	12/1/2001 9:09:07 PM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday, 30 November, 2001, 23:43 GMT US economy shrinks fast news.bbc.co.uk The US economy is shrinking at its fastest rate in over 10 years, according to revised government figures. US GDP 1998 +4.3% 1999 +4.1% 2000 +4.1% Q1 2001 +1.3% Q2 2001 +0.3% Q3 2001 -1.1% The US economy contracted at an annual rate of 1.1% between July and September, the weakest figures in a decade. This is a far bigger contraction than the 0.4% previously forecast by the government. It has been a dark week for the US economy, which was officially declared to be in a recession on Monday. The White House said that President George W Bush "was troubled" by the latest figures. More interest rate cuts? The downward revision is also significantly worse than the 0.9% Wall Street economists had been expecting.