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To: Boplicity who wrote (7333)	4/26/2002 9:35:55 AM
From: stockman_scott	Respond to of 13815

08:37 ET GDP thoughts The mix of GDP growth tells the economic story: inventories contributed more than half of the Q1 GDP increase, which is temporary; consumers continue to carry the weight of the economy, with spending up a healthy 3.5% in Q1; and businesses are lagging, with investment down 5.7%. Unless business investment turns the corner, the inventory rebuild will fizzle and the recovery is likely to be sluggish. 08:30 ET GDP rose 5.8% in Q1; final sales up 2.6%; stronger than expected GDP rose 5.8% in Q1 vs the 5.0% consensus, and final sales rose 2.6% vs expectations of about 2% growth. The PCE price index was up a very friendly 0.6%. Though the 5.8% headline number greatly overstates the strength of underlying growth, the 2.6% final sales increase is still encouraging and the mix of stronger growth and very low inflation is positive for the market.