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Tar Heel Pundits
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Thursday, August 07, 2003

It’s the Economy, Stupid

The economy seems to be gathering steam this year. After five consecutive months of gains for the Dow Jones Industrial Average, non-farm productivity more than doubled its gains in the Second Quarter. U.S. business productivity rose from the First Quarter gains of 2.1 % to Second Quarter gains of 5.7 %, shattering expectations of 4.1 %. This information was accompanied by further good news that jobless claims have dropped to a six-month low. Retail sales were also up in July, with Wal-Mart even giving some credit for its boosted sales to the “change in the tax withholding tables under the president's stimulus plan.”

posted by John Branch @ 10:08 AM

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