US economy may have bottomed out

[Michael Pollak]

On Mon, 30 Apr 2001, John Mage wrote:

> The Christian Science Monitor piece said that consumers were putting off
> big purchases in the first quarter

But that seems to have turned out not to be true according to the figures
released on Friday.  Along with the news that GDP grew by 2% in the first
quarter was the finding that consumers markedly increased their purchased
of homes, cars and durables to take advantage of lower rates, just like
theory and the Fed says they're supposed to.

Michael

__________________________________________________________________________
Michael Pollak................New York City..............mpollak at panix.com