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Above all, war
By Evelina M. Tainer, Chief Economist, Econoday
Economic news was mixed this week with relatively good news coming from both the manufacturing and non-manufacturing ISM indexes as well as construction spending. The employment report did show at least that labor conditions aren't getting worse. But economic news remains in the background to an impending war with Iraq.
Secretary of State Colin Powell's address to the UN Security Council this week offered the evidence that President Bush didn't show during his State of the Union speech. Pictures and audiotapes along with the Powell message went a long way in persuading many of the international leaders that had been sitting on the fence.
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