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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| July 01, 2003 | COPYRIGHT 2003 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

U.S. net debtor gap grew in '02

Foreign investors owned $2.387 tril more in U.S. assets than U.S. investors held in foreign assets at the end of '02, Commerce said. That's up $407.31 bil since '01. The U.S. has been a net debtor since '85. The Commerce Dept. said 2002's rise was due to foreign buys of U.S. corporate and government debt while U.S. investors became net sellers of foreign securities.

** Euro area consumer prices in June rose 2% vs. a year ago, up from May's 1.9% annual gain. The rise was the first in four months and eased some deflation fears. The European Central Bank has an official 2% inflation ceiling.

** ECB President Wim Duisenberg, asked if he was concerned about deflation, said, "Not much, because there is none."

German auto workers end strike

Work resumed at a DaimlerChrysler van assembly plant and three Volkswagen factories after IG Metall, Germany's leading industrial union, officially abandoned a strike for a shorter workweek in ...

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