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Investor's Business Daily

| December 01, 2004 | COPYRIGHT 2004 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

Q3 GDP Revised Higher To 3.9%

1The economy grew a bit faster than the 3.7% annual rate first reported. Growth was 3.3% in Q2. Consumer spending grew at a 5.1% pace in Q3, up from the initial 4.7%, the fastest since late '01. Business investment in software and equipment was bumped up to 17.2% from 14.9%. Exports also were revised up. Inventory growth was revised lower. More on this page

Dollar Hits New Low, Rebounds

2The euro rose to $1.3335 early, breaching Friday's record. But it reversed to close up just 0.13 cent to $1.3281. The dollar rose slightly vs. the yen. The 10-year Treasury yield, which has been rising as the weaker dollar suggests fewer foreign buys of Treasuries, climbed 3 basis points to 4.35% after surging 9 basis points on Monday.

Consumers Surprisingly Gloomy

3The Consumer Confidence Index, defying forecasts, sank for a 4th month, falling 2.4 points to 90.5 in November, an 8-month low. The Conference Board's present situation index rose, but the expectations index fell to a 17-month low on jobs concerns. Buying plans for autos and homes hit multi-year lows. More on this page, A2

Holiday Sales Indicators Falter

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