Economy Newswire

07/07/2003 First-quarter growth seen at 2.2%U.S. Manufacturing Shrank in June But Increase in New Orders May Lead to Rebound Later in Year advertisement  By John M. Berry Washington Post Staff Writer Wednesday, July 2, 2003; U.S. manufacturing activity contracted in June for the fourth month in a row, but it did so only slightly while a rising number of new orders indicated the sector will expand in the second half of the year, the Institute for Supply Management reported yesterday.

 

06/09/2003 The average rate on a 30-year fixed-rate mortgage fell to 5.26 percent

The average rate on a 30-year fixed-rate mortgage fell to 5.26 percent in the week ending yesterday, from 5.31 percent the previous week, Freddie Mac reported. The new rate was the lowest in more than four decades. Fifteen-year fixed-rate mortgages fell to 4.66 percent, from 4.73 percent, while the rate on adjustable mortgages fell to 3.59 percent, from last week's 3.63 percent.

05/09/03 Snow sees 'soggy' economy WASHINGTON (CNN) - Tax cuts sought by President Bush will provide a big boost to the nation's economy, which is still feeling the effects of the Sept. 11, 2001 terrorist attacks, U.S. Treasury Secretary John Snow said Sunday.
  Still going Strong

Stock rally reloaded Tech forecasts bring investors back in after two days of selling. Major indexes higher on week  NEW YORK (CNN/Money) - Stocks surged Friday, with buyers raring to rally after a two-session selloff. The Nasdaq and the S&P 500 carved out a fourth week of gains, while the Dow saw its second up week.

  Mortgage Rates Shrink to Record Territory Again

Washington Post Mortgage rates fell this week to near the four-decade low set in March, further fueling an already record-breaking burst in borrowing and home buying.  The bargain-basement rates are allowing millions of Americans to buy homes, reduce their housing costs or rearrange their debt.

02/24/2003 First-quarter growth seen at 2.2%

February 24, 2003: NEW YORK (Reuters) - Economists roll back forecasts.  First-quarter growth seen at 2.2%, down from earlier estimate of 2.6%; '03 growth pegged at 2.5%.  Private-sector economists have cut their U.S. growth forecasts for this quarter and trimmed them for the whole of 2003, a Federal Reserve Bank of Philadelphia survey said Monday.

02/19/2003 Gasoline pump prices breach $2

February 19, 2003 The average retail price for regular gasoline in San Francisco was $2.044 a gallon Wednesday, while premium grades in cities like Los Angeles and Oakland were also above $2, according to the American Automobile Association.

02/18/2003 PC shipments to grow 4.8 percent in Q1

PC vendors will ship 33.2 million units worldwide in the first quarter, up 4.8 percent from a year earlier, Dataquest, a unit of Gartner, said Tuesday.  The market is expected to rebound later in the year as businesses start replacing PCs bought in the late 1990s as part of investments to fix Year 2000 (Y2K) problems, Dataquest said. Full-year shipments are expected to reach 138.7 million units, up 7.9 percent compared with 2002

02/10/2003 Bush budget forecasts

February 4, 2003: By Mark Gongloff, CNN/Money NEW YORK (CNN/Money) - The White House budget proposal released this week makes some assumptions about the economy and interest rates that could be overly optimistic -- especially if the economy stays stuck in the mud much longer.  The White House Office of Management and Budget said it based its budget outlook for 2003-2008 on the assumption the U.S. economy would grow 2.9 percent in 2003 and average 3.3 percent growth between 2003 and 2008.

02/03/2003 February 3, 2003 WASHINGTON (Reuters) - The Bush administration's 2004 budget Monday forecast halcyon days for the world's richest economy, predicting rapid economic expansion, falling unemployment and muted price rises for the next few years.
  Weakness could haunt U.S.Jan 30, 2003.  The government reported Thursday the world's largest economy grew at a meager 0.7 percent pace in the fourth quarter and just a sluggish 2.4 percent for all of 2002. That followed 0.3 percent growth in 2001, when the economy was in the throes of recession.
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