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Uncertainty holds back spending
St. Louis Fed President William Poole said companies' tight profits and war and terrorism fears are holding back business spending. But there are signs investment may improve in the future, he said, noting recent increases in spending on computers and software.
Bankruptcies seen at new high
Fitch Ratings sees personal bankruptcy filings rising 7% to 1.65 mil in '03, topping last year's record 1.539 mil. Jan. filing rose 9.2% from Jan. '02. Fitch also said the current pace of layoffs and jobless claims is at recessionary levels.
ECRI growth rate negative again
The Economic Cycle Research Institute's growth rate fell to -0.5% in the week ended Feb. 21 after a flat reading the prior week and small gains before that. The ECRI weekly leading index fell to 118.7 in the Feb. 21 week from 119.4. ECRI still says the U.S. is in a recovery, but it's modest and vulnerable to shocks.
Argentina tops IMF budget target