2001 Annual Agricultural Outlook
One word summarizes the current outlook for the U.S. economy. That word is confusion. First, we review the recent behavior of the U.S. economy. Ten years of economic expansion without a recession had led some to believe that we could have continual expansion without a recession. The year 2000 was the fourth year in a row with growth exceeding 4 percent and this was accomplished with relatively stable prices. unemployment was about 4 percent or below what many perceived as a sustainable rate of unemployment without rapid inflation. Stock market prices had increased and some consumers were spending their "new wealth." However, the stock market showed signs of weakness beginning in 1999. That weakness grew, especially for technology stocks and price volatility became much larger. Energy prices also increased in volatility with gasoline, natural gas and electric rates changing frequently except where highly regulated. The economy continued to show strength through much of the year in spite of these problems. Then a series of events led to a major shift in consumer attitudes which began in the final quarter of the year.
|Date of creation:||2001|
|Contact details of provider:|| Postal: Justin S. Morrill Hall of Agriculture, 446 West Circle Dr., Rm 202, East Lansing, MI 48824-1039|
Phone: (517) 355-4563
Fax: (517) 432-1800
Web page: http://www.aec.msu.edu/agecon/
More information through EDIRC
When requesting a correction, please mention this item's handle: RePEc:ags:midasp:11639. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (AgEcon Search)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.