Worldwide credit conditions: at a glance.(Illustration)

March

 
ECONOMIC GROWTH 
 
GDP % change from previous quarter 
 
            Q1 03     Q2 03     Q3 03     Q4 03 
 
U.S.          0.4       0.8       2.0       1.0 
Canada        0.6      -0.1       0.3       0.4 
Mexico       -0.5       0.2       0.4       2.0 
EU 15         0.1       0.0       0.4       0.4 
Germany      -0.2      -0.1       0.2       0.2 
UK            0.2       0.6       0.8       0.9 
France        0.3      -0.3       0.4       0.5 
Japan         0.6       0.8       6.0       1.7 
 
Sources: Eurostat (www.europa.eu.int); Instituto Nacional 
(www.inegi.gob.mx). 
 
U.S. BANKRUPTCY RATES 
 
Number of bankruptcy petitions filed in federal 
courts and % change from previous quarter 
 
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%) 
Q4 03     393,348     (-4.8%) 
 
Source: Administrative Office of the U.S. Courts 
(www.uscourts.gov). 
 
U.S. Business Bankruptcies, Year Ending 12/30 
 
1999     37,884 
2000     35,472 
2001     40,099 
2002     38,540 
2003     35,037 
 
Source: Administrative Office of the 
U.S. Courts (wvw.uscourts.gov). 
 
U.S. INFLATION 
 
June    July    Aug.    Sept.    Oct.    Nov.    Dec.    Jan. 
 
U.S. consumer Drice index - urban % chance 
0.2     0.2     0.3     0.3      0.3    -0.2     0.2     0.5 
 
Produce price index % change 
0.5     0.1     0.4     0.2      0.8    -0.3     0.3     0.4 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
International Unemployment 
 
          Sept. 03    Oct. 03    Nov. 03    Dec. 03    Jan. 04 
 
U.S.           6.1        6.0        5.9        5.7        5.6 
Canada         7.2        6.8        6.7        6.6        6.6 
Japan          5.2        5.2        5.2        4.9        5.0 
France         9.4        9.3        9.2        9.3        9.2 
Germany        9.1        9.1        9.1        9.0        8.9 
UK             5.0        5.0        4.9        4.9        4.8 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov); 
OECD (www.oecd.org). 
 
U.S. INTEREST RATES 
 
                  Q4 03     Q1 04 *     Q2 04 *     Q3 04 * 
 
Federal Funds      1.00      1.00        1.01        1.42 
3 mo. T bill       0.92      0.97        1.12        1.43 
6 mo. T bill       1.00      1.04        1.21        1.50 
1 yr. T bill       1.30      1.31        1.50        1.85 
2 yr. T note       1.86      1.79        1.95        2.20 
10 Yr. T note      4.29      4.20        4.34        4.49 
 
Source: Federal Reserve (www.frb.gov). 
* Forecast by National City Corp. (www.nationalcity.com). 
 
INTERNATIONAL INTEREST RATES 
 
               9/03     10/03     11/03     12/03      1/04 
 
Short-term rates 
(3-mo. interbank rates or 3-mo. CDs or T bills) 
 
U.S.           1.08      ...