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U.S. inks Central American pact
The U.S. and five countries signed the Central American Free Trade Agreement, which the Bush administration hopes will lead to a bigger, hemisphere-wide trade deal by '05. But the deal faces stiff opposition in Congress. Nations include Costa Rica, El Salvador, Guatemala, Honduras and Nicaragua. The Dominican Republic will join later.
ECRI leading index holds steady
The Economic Cycle Research Institute's gauge of the U.S. economic outlook was flat at 133.8 last week. The index's annualized growth rate fell to 7.4% from 8.3% the prior week, suggesting the economy is transitioning from accelerating to decelerating growth, ECRI said.
** New York City's economy rose for a ninth straight month in May, the National Association of Purchasing Management-New York said. But a modest 13% of surveyed firms expect to add workers.
Japan household spending leaps
April spending by salaried workers' households jumped 9.3% from March. The ...