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THE ECONOMY.(A)
Chain-store sales higher in week
Same-store sales at department and discount chains last week rose 2.1% from the prior week, Bank of Tokyo-Mitsubishi and UBS Warburg said. Sales rose 2.9% from a year ago, up from the prior week's 1.7% gain. But the last-minute rush couldn't make up for the weak holiday season overall. Instinet Research said month-to-date same-store sales rose 0.7% from Nov. and 1.3% from Dec. '01.
** International Strategy & Investment Group's U.S. business activity gauge rose to 41.8 last week from 40.5 the prior week, helped by a late holiday-shopping surge. The four-week average rose to 41.8 from 41.2.
New York economy slips in Dec.
The National Association of Purchasing Management-New York's business conditions index fell to 250.4 from 254.7 in Nov. amid falling stock prices and more Wall Street layoffs. A gauge of the city's services sector, which represents 90% of local economic activity, plunged to 38 from 56.9.
** The Bush administration chided the WTO for three rulings against the U.S. and said it'll work to prevent ...
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