Worldwide credit conditions.(Illustration)

 
At A Glance 
 
WORLDWIDE CREDIT CONDITIONS 
 
Fay Hensen 
 
ECONOMIC GROWTH 
 
GDP % change from previous quarter 
 
         Q2 02  Q3 02  Q4 02  Q1 03 
 
U.S.       0.3    1.0    0.4    0.3 
Canada     1.2    0.8    0.4      - 
Mexico     0.7    0.7    0.2      - 
US 15      0.4    0.4    0.2      - 
Germany    0.2    0.3      0      - 
UK         0.6    0.9    0.3    0.2 
France     0.4    0.3    0.2      - 
Japan      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 
 
 
Sep.  Oct.  Nov.  Dec.  Jan.  Feb.  Mar. 
 
0.2   0.3   0.1   0.1   0.3   0.6   0.6 
 
Produce price index % change 
 
 
0.1   1.1   -0.4  0     1.6   1.0   1.5 
 
Source: U.S. Bureau of Labor Statistics (www.bls.gov). 
 
International Unemployment 
 
         Dec. 02  Jan. 02  Feb. 02  Mar. 02 
 
U.S.         6.0      5.7      5.8      5.8 
Canada       6.8      6.7      6.7      6.7 
Japan        5.5        -        -        - 
France       8.9      9.0      9.1        - 
Germany      8.7      8.9      9.1      9.2 
UK           5.0      5.1        -        - 
 
Source: U.S. 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     1.25     1.50 
3 mo. T Bill   1.18   1.17     1.22     1.54 
6 mo. T bill   1.19   1.18     1.25     1.57 
1 yr. T bill   1.30   1.23     1.43     1.77 
2 yr. T note   1.65   1.69     2.06     2.40 
10 yr. T note  3.92   4.08     4.44     4.65 
 
Source: Federal Reverse (www.frb.gov). 
 
* Forecast by National City Corp. (www.nationalcity.com) 
 
INTERNATIONAL INTEREST RATES 
 
Short-term rates 
(3-mo. interbank rates or 3-mo. CDs or T bills) 
 
 
           1/02  12/02  1/03  2/03  3/03 
 
U.S.       1.39  1.34   1.29  1.27  - 
Canada     2.82  2.83   2.86  2.91  3.20 
Mexico     7.83  7.27   8.69  8.86  9.12 
Japan      0.05  0.05   0.04  0.04  0.05 
Euro zone  3.12  2.94   2.83  2.69  2.53 
UK         3.91  3.95   3.91  -     - 
 
Long term rates 
(secondary market yields on long-term bonds) 
 
 
U.S.       5.07  4.73   4.81  4.57  - 
Canada     5.18  4.88   5.02  4.93  5.13 
Japan      0.98  0.98   0.84  -     - 
Euro zone  4.59  4.41   4.24  -     - 
UK         4.64  4.57   4.40  4.24  - 
 
Source: OECD (www.oecd.org). 
 
U.S. TRADE 
 
% change       Feb. 03  YTD compared 
                        w/same period 2001 
 
Exports        0.5%     6.3% 
  Merchandise  1.1%     4.3% 
  Services     -0.8%    11.3% 
Imports        -0.4%    13.0% 
  Merchandise  -0.1%    13.4% 
  Services     -1.7%    11.4% 
 
Source: International Trade Administration (www.ita.doc.gov) 

U.S./Canada. Feb.2003 exports totaled $13.2 billion, up 7.0% from a year ago. Imports were $17.6 billion, up 8.0%.