By Evelina M. Tainer, Chief Economist, Econoday
September 20, 2002

Economic data were not particularly friendly to the equity markets this week, although the reports certainly helped fuel the rally in the Treasury market. Economic news was generally disappointing with most indicators weaker than market players had expected. The only positive news for the week was a narrower trade deficit, but this was discounted as a one-time event. The narrower gap might yet have repercussions for third-quarter GDP growth estimates. Despite the anemic recovery, neither economists nor market players are looking for a rate change at next week's FOMC meeting.