World credit conditions.(Illustration)

 
ECONOMIC GROWTH 
GDP % change from previous quarter 
 
          Q4 02   Q1 03   Q2 03   Q3 03 
 
U.S.        0.3     0.4     0.8     1.7 
Canada      0.4     0.6    -0.1     0.3 
Mexico      0.2    -0.5     0.2     0.4 
EU 15       0.2     0.1     0.0     0.4 
Germany       0    -0.2    -0.1     0.2 
UK          0.3     0.2     0.6     0.6 
France      0.2     0.3    -0.3     0.4 
Japan       0.4     0.1     0.6     0.6 
 
Sources: Eurostat (www.europa.eu.int); Instituto National 
(www.inegi.gob.mx). 
 
U.S. BANKRUPTCY RATES 
Number of bankruptcy petitions filed in federal courts and 
% change from previous quarter 
 
Q2 02   400,686   (5.7%) 
Q3 02   401,306   (1.6%) 
Q4 02   395,129   (-1.5%) 
Q1 03   412,968   (4.5%) 
Q2 03   440,257   (6.6%) 
Q3 03   412,989   (-6.2%) 
 
Source: Administrative Office of 
the U.S. Courts 
(www.uscourts.gov). 
 
U.S. Business Bankruptcies Year Ending Sept. 
 
1999   38,625 
2000   36,065 
2001   38,490 
2002   39,091 
2003   36,183 
 
Source: Administrative Office of 
the U.S. Courts (www.uscourts.gov). 
 
U.S. INFLATION 
U.S. consumer price index--urban % change 
 
May   June   July   Aug.   Sept.   Oct.   Nov. 
 
0     0.2    0.2    0.3    0.3     0.3    -3.0 
 
Produce price index % change 
 
-3    0.5    0.1    0.4    0.3     0.8    -3.0 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
International Unemployment 
 
          Aug. 03   Sept. 03   Oct. 03   Nov. 03 
 
U.S.          6.1        6.1       6.0       5.9 
Canada        7.2        7.2       6.8       6.7 
Japan         5.1        5.2       5.2       5.2 
France        9.2        9.4       9.3       9.2 
Germany       9.1        9.1       9.1       9.1 
UK            5.0        5.0       5.0       4.9 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
U.S. INTEREST RATES 
 
                Q3 03   Q4 03 *   Q1 04 *   Q2 04 * 
 
Federal Funds   1.02    1.00      1.00      1.25 
3 mo. T bill    0.93    1.02      1.12      1.49 
6 mo. T bill    0.99    1.02      1.24      1.62 
1 yr. T bill    1.22    1.33      1.57      1.91 
2 yr. T note    1.68    2.44      2.56      2.83 
10 yr. T note   4.23    4.33      4.50      4.72 
 
Source: Federal Reserve (www.frb.gov). * Forecast by 
National City Corp. (www.nationalcity.com). 
 
INTERNATIONAL INTEREST RATES 
 
            7/03   8/03   9/03   10/03 
 
Short-term rates 
(3-mo. interbank rates or 3-mo. CDs or T bills) 
 
U.S.        1.05   1.08   1.08   1.10    1.11 
Canada      2.99   --     --     --      -- 
Mexico      5.27   5.11   5.20   5.38    5.23 
Japan       0.04   0.04   0.04   0.03    0.03 
Euro zone   2.13   2.14   2.15   2.14    2.16 
UK          3.42   3.45   3.63   3.73    -- 
 
Long-term rates 
(secondary market yields on long-term bonds) 
 
U.S.        5.27   5.17   4.73   5.03    5.03 
Canada      4.78   4.96   4.64   4.85    4.79 
Japan       0.98   1.12   --     --      -- 
Euro zone   4.05   4.20   4.23   4.31    -- 
UK          4.40   4.58   4.68   4.89    -- 
 
Source: OECD (www.oecd.org). 
 
U.S. TRADE 
 
% change       Oct. 03   YTD compared 
                         w/same period 2002 
 
Exports        2.6%      3.4% 
 Merchandise   2.8%      3.2% 
 Services      2.2%      3.7% 
Imports        2.1%      8.6% 
 Merchandise   2.4%      8.9% 
 Services      0.7%      7.6% 
 
Source: International Trade Administration (www.ita.doc.gov). 
 
U.S./Canada. Oct. YTD exports totaled $141.3 
billion, up 4.7% from a year ago. Imports were $187.1 
billion, up 6.8%. 
 
U.S./Mexico. Oct. YTD exports totaled $80.5 billion, 
down 1.3% from a year ago. Imports were $115.0 
billion, up 7.5%. 
 
U.S./Europe. Oct. YTD exports totaled $124.3 
billion, up 4.0% from a year ago. Imports were $200.9 
billion, up 8.2%. 
 
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