Worldwide Credit Conditions.

 
At a Glance: WORLDWIDE CREDIT CONDITIONS 
 
ECONOMIC GROWTH 
 
GDP % change from previous quarter 
 
         Q1 02  Q2 02  Q3 02  Q4 02 
 
U.S.       1.2    0.3    1.0    0.4 
Canada     1.5    1.2    0.8    0.4 
Mexico       0    0.7    0.7    0.2 
EU 15      0.4    0.4    0.4    0.3 
Germany    0.3    0.2    0.3      0 
UK         0.1    0.6    0.9    0.3 
France     0.6    0.4    0.3    0.2 
Japan      0.1    1.3    0.7    0.5 
 
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 01  359,518  (-10.2%) 
Q4 01  366,841  (2.0%) 
Q1 02  379,012  (3.3%) 
Q2 02  400,686  (5.7%) 
Q3 02  401,306  (1.6%) 
Q4 02  395,129  (-1.5%) 
 
Source: Administrative Office of the U.S. Courts (www.uscourts.gov). 

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U.S. Business Bankruptcies, Calendar Year 
 
 
1998  44,367 
1999  37,884 
2000  35,472 
2001  40,099 
2002  38,540 
 
Source: Administrative Office of the U.S. Courts (www.uscourts.gov). 

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U.S. INFLATION 
 
U.S. consumer price index--urban % change 
 
 
July  Aug.  Sep.  Oct.  Nov.  Dec.  Jan. 
 
.1    .3    .2    .3    .1    .1    .3 
 
Produce price index % change 
 
 
-.2   0     .1    1.1   -.4   0     1.6 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
International Unemployment 
 
         Oct. 02  Nov. 02  Dec. 02  Jan. 02 
 
U.S.        5.7%      6.0      6.0      5.7 
Canada       7.0      6.9      6.8        - 
Japan        5.6      5.4      5.5        - 
France       8.8      8.9      9.1        - 
Germany      8.5      9.7     10.1        - 
UK           5.3      5.2      3.1        - 
 
Source: US Bureau of Labor Statistics (www.bls.gov). 
 
U.S. INTEREST RATES 
 
               Q1 03 *  Q2 03 *  Q3 03 *  Q4 03 * 
 
Federal Funds  1.25     1.25     1.46     1.98 
3 mo. T bill   1.18     1.22     1.50     -- 
6 mo. T bill   1.19     1.24     1.51     -- 
1 yr.T bill    1.31     1.41     1.72     -- 
2 yr.T note    2.33     2.70     3.00     3.31 
10 yr.T note   4.07     4.30     4.47     4.66 
 
Source: Federal Reserve (www.frb.gov). 
 
* Forecast by National City Corp. (www.national city.com). 
 
INTERNATIONAL INTEREST RATES 
 
 
           9/02  10/02  11/02  12/02  1/03 
 
Short-term rates 
(3-mo. interbank rates or 3-mo. CDs or T bills) 
 
 
U.S.       1.76  1.73   1.39   1.34   1.29 
Canada     2.90  2.87   2.82   2.83   2.86 
Mexico     7.82  8.23   7.83   7.27   -- 
Japan      0.03  0.03   0.05   0.05   0.04 
Euro zone  3.31  3.26   3.12   2.94   2.83 
UK         3.93  3.90   3.91   3.95   -- 
 
Long-term rates 
(secondary market yields on long-term bonds) 
 
 
U.S.       4.63  4.93   5.07   4.73   -- 
Canada     4.92  5.16   5.18   4.88   5.02 
Japan      1.13  1.10   0.98   0.98   -- 
Euro zone  4.52  4.62   4.59   4.41   -- 
UK         4.49  4.61   4.64   4.57   -- 
 
Source: OECD (www.oecd.org). 
 
U.S. TRADE 
 
% change      Dec. 02  YTD compared 
                       w/same period 2001 
 
Exports       -2.6%    -2.5% 
 Merchandise  -3.9%    -5.0% 
 Services     1.2%     4.0% 
Imports       1.7%     3.8% 
 Merchandise  5.5%     1.8% 
 Services     2.0%     14.7% 
 
Source: International Trade Administration (www.ita.doc.gov). 

U.S./Canada. 2002 exports totaled $160.8 billion, down 1.6% from a year ago. Imports were $210.6 billion, down 2.6%.