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The Economy in Perspective

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Caveat emptor … Economic activity surged at the end of last year, expanding at an annualized rate of 7.3% in real terms. That performance helped propel 1999’s growth rate to 4.6%, on a par with the 1998 rate. Most economists, inside and outside government, had predicted that the pace of economic activity would recede toward 3% last year, but then warnings of an impending slowdown have been a recurrent theme for several years running.

Suggested citation: "The Economy in Perspective," Federal Reserve Bank of Cleveland, Economic Trends, no. 00-04, pp. 01, 04.01.2000.

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