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U.S. Expanded At 4% Pace In Q4
1Economic growth slowed more than expected from Q3's blistering 8.2% annual rate. Consumer spending rose at a 2.6% rate. Business investment also cooled but kept growing at a rapid pace. Inventories rose a little. Exports surged 19.1%, the best pace in 7 years. Price gauges showed inflation under wraps. GDP rose 3.1% in '03 vs. 2.2% in '02 and 0.5% in '01. More on this page, A2
Midwest Factories Turn Up Heat
2The Chicago purchasers' index jumped 4.7 points to 65.9 in Jan., the best since '94. The orders index also hit the best level in nearly 10 years, while production grew at its fastest rate in 20 years. The prices paid index also showed price hikes accelerating. But the jobs index indicated factories continue to shed staff. More on this page, A2
Stocks Slip, But Gain For Month
3Stocks kept losses mild on lower-than-expected GDP growth. The Nasdaq declined 0.1%, the Dow industrials 0.2%. The small-cap S&P 600 eked out a 0.1% gain. Volume dwindled from Thursday. Techs and telecoms led; truckers skidded. Indexes posted losses for the week, but gained ground for Jan. More on this page, B2
Bush Defends Budget, GOP Angry