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Slowing Expected in Economic Indicators Reports

October 23, 2000

Major economic indicators scheduled for release this week include gross domestic product for the third quarter. Higher borrowing costs and fuel costs were expected to have slowed the annual growth rate to 3.5% in the three months that ended Sept. 30, according to analysts. The economy grew at a 5.6% pace in the second quarter, 4.8% in the first. "I don't think anyone can question there's a slowdown, just the extent of it," said Cynthia Latta, an economist at Standard & Poor's DRI in Lexington, Mass. "This country runs on cheap energy and cheap money--and neither one is cheap anymore." The Commerce Department issues the numbers Friday, the same day it reports on September factory orders for durable goods--aircraft, autos, semiconductors and other items made to last three or more years. Analysts expect a 0.8% increase after an August advance of 2.9%.

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