Fourth Quarter, Volume 4, Number 4

Federal Reserve Bank of Atlanta
EconSouth

In This Issue

STAFF

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
Designers

EDITORIAL COMMITTEE

Bobbie H. McCrackin
VP and Public Affairs
Officer

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

Volume 4, Number 4, Fourth Quarter 2002
		CURRENT ISSUE Fiscal Policy: What a Difference A Recession Makes

		COVER STORY 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.

		FEATURES 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.
		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.

		DEPARTMENTS Research Notes & News Dollar Index Southeastern Economic Indicators