|
|
Article: Three IBOStock indices post double-digit losses for six months.(Statistical Data Included)
- Article from:
- Instrument Business Outlook
- Article date:
- June 30, 2002
CopyrightCOPYRIGHT 2002 Strategic Directions International Inc. (SDI). 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)
|
The Commerce Department reported that first quarter GDP for the months January to March grew at an annual rate of 6.1%, the strongest quarterly growth in more than two years. As a result, many economists believe that second quarter GDP for April to June will be 2.5% or lower. In late June, the Federal Open Market Committee decided to leave the federal funds rate for overnight loans between banks unchanged at 1.75%. This marks the fourth consecutive meeting this year that the Fed policy makers have decided to leave the federal funds rate at a 40-year low.
The three major US market indices all showed declines between 8% and 11% for the month of June. The Dow Jones ...