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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| January 02, 2002 | COPYRIGHT 2002 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

N.Y. economy poised for rebound

The National Association of Purchasing Management-New York activity index rose to 252.3 in Dec. vs. 246.2 in Nov., ending a five-month slide. Post-attack layoffs have slowed. Tourists are returning, restaurants and hotels are busier, and real estate prices are stabilizing.

Big charitable gifts down in '01

While ordinary Americans opened the wallets after Sept. 11, the superrich were more frugal last year. The 10 largest single gifts to charity totaled $4.6 bil, down 58% from '00, the Chronicle of Philanthropy said. Bill Gates remained No. 1, giving $2 bil to the Bill & Melinda Gates Foundation. He donated $5 bil in '00.

Internet layoffs hit an 18-month low of 2,403 in Dec. vs. 2,901 in Nov. and 10,459 a year ago, says outplacement firm Challenger, Gray & Christmas. The 2001 total of 100,925 was up over 150% from '00.

Six Gulf Arab states signal deal

on customs union, single currency

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