Impact will add to growth

Article Abstract:

General Motors' (GM) settlement with its striking workers will boost the country's economic growth, according to some experts. The settlements means GM factories will start operating again, producing cars and trucks at full capacity. Diane Swonk, senior economist at First Chicago NBD, said the value of 600,000 cars GM supposed to build during the strike equals to over 1% of the $8 trillion US economy. According to Won Sohn, chief economist at Norwest in Minneapolis, MN, estimates growth domestic product growth could increase 1.5 percentage points in the fourth quarter of 1998.

Comment:

Its settlement with its striking workers will boost the country's economic growth, according to some experts

Motor Vehicles & Parts, Transportation Equipment Manufacturing, Personnel administration, General Motors Corp., Article

---

Fed rethinks when to impart changes in how it's leaning

Article Abstract:

The Federal Reserve System has announced that it is reevaluating its new policy of reporting biases toward future actions after policy meetings. The Fed said the reevaluation was in response to criticisms that its new policy caused confusion among investors and markets. Fed chmn Alan Greenspan announced that a seven-member task force will review its practice of reporting in advance the Fed's bias in the determination of future interest rate policy.

Public Finance Activities, Government regulation (cont), Federal Reserve System

---

Net's economic impact zooms

Article Abstract:

The Internet economy produced $301 billion in revenue and generated 1.2 million jobs in 1998, according to a study conducted by the University of Texas. The 1998 revenue figure represents a 174.5% increase over the previous year, while the employment figure represents more than 40% of new jobs created by the entire US economy in 1998. The study, sponsored by Cisco Systems, included interviews with over 3,000 US companies.

Market information - general, Wired Telecommunications Carriers, Specialized Telecom Services

Similar abstracts:

• Abstracts: Crippled GM makes new offer as auto strike's impact spreads. Nasser assembles management team at Ford
• Abstracts: More using cell instead of home phones. Apple's iBook Mac for the lap. Motorola to unveil new digital phones
• Abstracts: Grant Billing pushes his luck. Loewen's battle has just begun. Jill in the box
• Abstracts: SkyTel pagers to offer MSNBC news. World tests U.S. Net dominance
• Abstracts: CDIC repays $7.6-billion in debts. PM lauds Manulife's Japanese venture. Gap pressures other retailers with first report on sweat shops

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.