United States: 2002 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion

August 5, 2002

Preview Citation

Format: Chicago

United States: 2002 Article IV Consultation-Staff Report; Staff Supplement; and Public Information Notice on the Executive Board Discussion, (USA: International Monetary Fund, 2002) accessed November 22, 2024

Summary

This 2002 Article IV Consultation highlights that the United States economy slipped into recession in early 2001, as industrial production dropped sharply, investment and exports declined, and employment and weekly hours fell. The downturn was triggered in part by the collapse of the Information Technology boom and stock prices in March 2000, but was further exacerbated by the September 11th terrorist attacks. As a result, following real GDP growth in excess of 4 percent during the previous four years, the economy slowed sharply in 2001.

Subject: Balance of payments, Budget planning and preparation, Current account deficits, Financial institutions, Production, Productivity, Public financial management (PFM), Securities, Stocks

Keywords: Africa, Budget planning and preparation, Caribbean, Consumer spending, CR, Current account, Current account deficits, Diffusion indices, Global, Inflation, ISCR, Market, Mid-Session Review, Monetary policy, Productivity, Real GDP, Securities, Staff growth projection, Stimulus package, Stocks, U.S. dollar

Publication Details

Pages:

57
Volume:

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DOI:

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Issue:

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Series:

Country Report No. 2002/166
Stock No:

1USAEA0022002
ISBN:

9781451839593
ISSN:

1934-7685

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