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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| September 03, 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

Announced layoffs slip in Aug.

Planned layoffs at U.S. firms slid 6% to 79,925 from 85,117 in July, job placement firm Challenger, Gray & Christmas said. Telecom firms led layoffs for the first time in quite awhile. Overall, year-to-date announced cuts of 795,574 are down 15% from 2002's pace. But Challenger said a hiring boom is far off.

Home price growth at 4-year low

U.S. average home prices rose an average 5.56% in Q2, the Office of Federal Housing Enterprise Oversight said. That's a solid gain, but it's the least since the 5.55% rise in Q3 '99. Price growth has slowed for the past four quarters. Annualized, home prices rose 3.13%. Rising mortgage rates and a weak job market cooled appreciation somewhat. California and the East Coast remain the hottest property markets.

** President Bush had lunch with Federal Reserve Chairman Alan Greenspan to discuss the economy. With the election campaign heating up, Bush wants to be seen as concerned about the economy.

** The EU rejected Austria's bid to ban farmers in one ...

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