Buy custom ECONOMIC AND FINANCIAL DEVELOPMENTS IN 2000
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Miscellaneous
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| Number of pages / Number of words: |
37 / 10308 |
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At that time, the economy was rebounding from a deep recession during which households had deferred discretionary pur-chases. In contrast, the first-quarter surge in consumption came on the heels of two years of very robust spending during which real outlays increased at an annual rate of more than 5 percent, and the personal saving rate dropped sharply...
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Most notably, spending on motor vehicles, which had climbed to a new high in 1999, jumped even further in the first quarter of 2000 as unit sales of light motor vehi-cles soared to a record rate of 18.1 million units. In addition, households' spending on computing equipment and software rebounded after the turn of the year; some consumers apparently had postponed their purchases of these goods in late 1999 before the century date change...
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General points of the essay
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