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Year 2000: In Like A Bull, Out Like A Bear.(A)(National Issue)
Byline: Terry Jones, Charles Oliver||and Joseph Guinto
Investor's Business Daily
The U.S. economy straddled the world like a colossus when 2000 began. By year'send, it looked like a tottering giant, winded and wounded.
Major economic indicators began to sag as the year wore on, especially after the Fed's half-point rate move on May 16. And a growing tax burden used to build a massive budget surplus hasn't helped (see chart).
Take retail sales. They're falling. So are industrial output, factory or
ders and car sales.
A spate of other indicators - including the purchasing managers index, the Philadelphia Fed's business index - are likewise headed south.
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