A Cautious Optimism

Vadum, Matthew
December 2004
Bond Buyer;12/28/2004, Vol. 350 Issue 32038, p1
Trade Publication
The article reports that as the national economy of the U.S. continues to improve, analysts are cautiously optimistic about the fiscal outlook for state and local governments in 2005. Economists expect the brisk rate of growth will continue, citing data released by the Commerce Department that shows gross domestic product, which is the broadest measure of the national economy's health, grew at an annual rate of 4.0% in the third quarter, up from an earlier estimate of 3.9%. Analysts said that even though states and localities continue to face growing spending pressures related mostly to health care and education, they are nevertheless in a better position than they were at this point last year.


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