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July 2004.(Economic growth)(Illustration)

Business Credit

| July 01, 2004 | Hansen, Fay | COPYRIGHT 2004 National Association of Credit Management. 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
 
July 2004 
 
ECONOMIC GROWTH 
 
GDP % change from previous quarter 
 
          Q2 03   Q3 03   Q4 03   Q1 04 
 
U.S.       0.8     2.0     1.0     1.1 
Canada    -0.1     0.3     0.4       - 
Mexico     0.2     0.4     1.2     1.1 
EU 15      0.0     0.4     0.4     0.4 
Germany   -0.1     0.2     0.3     0.4 
UK         0.6     0.8     0.8     0.6 
France    -0.3     0.4     0.6     0.8 
Japan      0.8     0.6     1.7     1.4 
 
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 
 
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%) 
Q1 04   397,006    (1.0%) 
 
Source: Administrative Office of the U.S. Courts (www.uscourts.gov). 
 
U.S. Business Bankruptcies, Year Ending 12/30 
 
1999    39,845 
2000    35,992 
2001    39,845 
2002    37,548 
2003    36,785 
 
Source: Administrative Office of the U.S. Courts (www.uscourts.gov). 
 
U.S. INFLATION 
 
U.S. Consumer Price Index--Urban % Change 
 
Oct.   Nov.   Dec.   Jan.   Feb.   Mar.   Apr. 
 
0.3    -0.2    0.2   0.5    0.3    0.5    0.2 
 
Produce Price Index % Change 
 
0.8    -0.3   -0.2   0.6    0.1    0.5    0.7 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
INTERNATIONAL UNEMPLOYMENT 
 
          11/03   12/03   1/04    2/04    3/04 
 
U.S.       5.9     5.7     5.6     5.6     5.7 
Canada     6.7     6.6     6.6     6.6     6.7 
Japan      5.2     4.9     5.0     5.1     4.7 
France     9.2     9.3     9.2     9.4     9.4 
Germany    9.1     9.0     9.1     9.2     9.3 
U.K.       4.9     4.9     4.8     4.8     3.4 
 
U.S. INTEREST RATES 
 
                Q1 04   Q2 04 *   Q3 04 *   Q4 04 * 
 
Federal Funds    1.00    1.00      1.42      1.80 
3 mo. T bill     0.92    1.05      1.45      1.77 
6 mo. T bill     0.98    1.25      1.59      1.85 
1 yr. T bill     1.22    1.63      1.93      2.15 
2 yr. T note     1.69    2.43      2.69      2.79 
10 yr. T note    4.02    4.67      4.80      4.79 
 
Sources: Federal Reserve (www.frb.gov). 
 
* Forecast by National City Corp. (www.nationalcity.com). 
 
INTERNATIONAL INTEREST RATES 
 
            12/03   1/04    2/04    2/04    4/04 
 
Short-term rates 
(3-mo. Interbank rates or 3-mo.CDs or T bills) 
 
U.S.         1.10    1.06    1.05    1.05    1.08 
Canada       2.70    2.50    2.32    2.16    2.08 
Mexico       6.18    5.11    5.63    6.21    5.96 
Japan        0.03    0.03    0.03    0.03      - 
Euro zone    2.15    2.09    2.07    2.03    2.05 
U.K.         3.95    3.99    4.10    4.23      - 
 
Long-term rates 
(secondary market yields on long-term bonds) 
 
U.S.         4.94    4.83    4.68     457    5.16 
Canada       4.66    4.61    4.45    4.26    4.62 
Japan          -       -       -       -       - 
Euro zone    4.36    4.26    4.18     402    4.24 
U.K.         4.89    4.79    4.81    4.70      - 
 
Source: OECD (www.oecd.org). 
 
U.S. TRADE 
 
                          YTD compared 
% change        Mar. 04   w/same period 2003 
 
Exports            2.6%   11.5% 
  Merchandise      3.5%   11.9% 
  Services         0.5%   10.6% 
Imports            4.6%   10.4% 
  Merchandise      5.4%   10.3% 
  Services         0.9%   11.0% 
 
U.S./Canada. Mar.YTD exports totaled $44.9 billion, up 8.8% from a year 
ago. Imports were $60.3 billion, up 8.3%. 
 
U.S./Mexico. Mar.YTD exports totaled $25.9 billion, up 14.2% from a 
year ago. Imports were $36.4 billion, up 8.4%. 
 
U.S./Europe. Mar.YTD exports totaled $41.9 billion, up 11.3% from a 
year ago. Imports were $64.5 billion, up 12.1%. ...
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Source: HighBeam Research, July 2004.(Economic growth)(Illustration)

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