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Strategies & Market Trends : Galapagos Islands -- Ignore unavailable to you. Want to Upgrade?

To: AugustWest who wrote (37829)	4/25/2003 9:31:55 AM
From: AugustWest	Respond to of 57110

And CNBC managed to put positive spin on the GDP numbers (COMTEX) U.S. GDP growth slower than expected at 1.6% annual rate in first quarter WASHINGTON, Apr 25, 2003 (The Canadian Press via COMTEX) -- The American economy grew at a 1.6 per cent annualized rate in the first three months of this year - significantly slower than economists had projected. Pulled down by war anxieties, the 1.6 per cent rate barely exceeded the sluggish 1.4 per cent rate of growth in gross domestic product during the fourth quarter of 2002. Private-sector economists had expected first-quarter growth of about two per cent, with estimates as high as 2.5 per cent. The government said Friday that strength in the first three months of the year came from a narrowing of the U.S. trade deficit, strong home construction and consumer purchases of clothing, food and other nondurable items. These factors offset a further drop in sales of cars and other durable goods. In the weeks leading up to the war in Iraq, consumer and business confidence plunged amid fears of disrupted oil supplies and terrorist attacks. And economic activity came to a near standstill in much of the country during February's severe snowstorms. The online source for news sports entertainment finance and business news in Ca ada Copyright (C) 2003 The Canadian Press (CP), All rights reserved -0- KEYWORD: WASHINGTON SUBJECT CODE: business * end of story *