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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (16415)	3/7/2002 3:23:23 AM
From: Don Lloyd	Read Replies (1) \| Respond to of 74559

Jay - ...(a) The recent jubilation concerning the recession that apparently never-was is triggered by the 'truth' that real GDP growth in the fourth quarter of 2001 was positive 0.2%, instead of the expected decline of 1%. (b) The paltry upturn is primarily comprised of two items, state and local government spending, and business spending on computers. (c) The problem is two fold ... state and local spending increase is bad news, and (d) The IT purchase increase, when measured in current dollars, is USD 1.9 billion, and after hedonic treatment, becomes a USD 23.5 billion. (e) Without hedonics, real GDP growth would be negative 2% annualized.... Do you have a reference for this? TIA, Don