Contact:
Dave Orr
(704) 374-7034
Media Contact:
Sandy Deem
(704) 374-2710
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January 31, 1997
GDP Data Make Economy Look Really Hot, But It's Really Not, Says First Union Economist
CHARLOTTE -- Fears that the Federal Reserve will try to "cool down" the economy in response to today's strong GDP reports are probably unfounded, says First Union economist David Orr. He cited "core GDP" results that are significantly different from the 4.7 percent rate of annualized growth in overall GDP during the fourth quarter, a pace that is more than twice the 2.1 percent figure for the third quarter.
‡Ppachovia
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