Fourth Quarter, Volume 4, Number 4

Federal Reserve Bank of Atlanta
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Lynne Anservitz
   Editorial Director

Lynn Foley
Nancy Pevey
   Managing Editors

Michael Chriszt
   Contributing Editor

Jean Tate
Lee Underwood
   Staff Writers

Harriette D. Grissom
Stephen Kay
Myriam Quispe-Agnoli
   Contributing Writers

Carole Starkey
Peter Hamilton


Bobbie H. McCrackin
   VP and Public Affairs

Thomas J. Cunningham
   VP and Associate
   Director of Research

Pierce Nelson
   AVP and Public
   Information Officer

John C. Robertson
   AVP, Research Department
   Regional Section

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ISSN 0899-6571

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Volume 4, Number 4, Fourth Quarter 2002

   Fiscal Policy: What a Difference
   A Recession Makes

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   Outlook Mixed for Southeast
   And Nation in 2003

The U.S. economy began to recover from recession in 2002, and the economic outlook for 2003 appears positive overall. Yet, as this article points out, growth will likely be more modest than it typically is at this stage of the business cycle.

Regional Focus

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   Southeastern Economy Still
   Feeling Recession’s Effects

Although the Southeastern economy continues to outperform the nation’s as a whole, the negative effects of the 2001–02 recession will continue to be felt in some parts of the region. Moderate growth is likely, but the Southeast’s widely varied industry mix means that some areas may be slower to recover than others.
International Focus vertical line    The 2003 Global Outlook:
   Recovery to Continue
Looking ahead to 2003, forecasters believe overall global economic growth will remain positive based on a slow but steady rebound in business spending and investment. As with any forecast, there are risks, and weak performances are anticipated in a few South American economies and in Japan. Overall, however, current trends — especially that of low inflation — appear set to support global economic expansion.

   Research Notes & News
      Dollar Index

   Southeastern Economic Indicators

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