Recent Economic Developments, 105

Overview:

From October 2003 to March 2004 (the period reviewed) the rising trend of business-sector activity evident in the second half of 2003 became clearer and more pronounced. In addition, most of the economic indices relating to the period reviewed show that consumers’
and manufacturers’ expectations of continued and even stronger recovery have risen. Casting a shadow over these positive indications was the slack in the labor market that gave the clearest expression to the persistent low level of activity relative to the level and composition of potential growth.

Link to File