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

To: StanX Long who wrote (61629)	3/7/2002 12:52:50 AM
From: StanX Long	Respond to of 70976

The Recovery That Defied the Forecasts of Economists By DANIEL ALTMAN Recovering Economy Is Improving Outlook for Federal Budget (March 7, 2002) nytimes.com The economy's quick recovery from recession, evinced by the latest reports from the Commerce Department and the Federal Reserve, has taken many experienced forecasters by surprise. Their favorite explanation has been the unexpected resilience of consumers after the shock of Sept. 11. Yet at the end of last year, strong gains in productivity — the amount of goods the average American worker produces in an hour — also played an important and largely ignored role. Yesterday, the Commerce Department released new figures showing a pickup of 1.6 percent in orders for manufactured goods in January, after an increase of 0.7 percent in December. Last week, the department revised its estimate of growth in gross domestic product for the final quarter of last year to 1.4 percent from 0.2 percent.