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NEWS FOR THE WEEK OF JUNE 26

The Economy Grew 5.6% In The First Quarter Of 2006, 46 Out Of The 50 U.S. States Are Currently Running
The Fastest Growth Rate In Nearly Three Years. (Rex Surpluses In Their Budgets. (Nicholas Riccardi, “States’ New
Nutting, “GDP Revised To 5.6% In First Quarter,” MarketWatch, Budget Battle,” Los Angeles Times, 6/18/06)
6/29/06)
• State And Local Tax Revenues Were Up 10.5%
• The Rate Was Improved Over Last Month’s In 2005. (Editorial, “States Of Plenty,” The Wall Street
5.3% Growth Estimate, Due Mostly To An Journal, 6/26/06)
Improvement In The U.S. Trade Deficit. (Jeannine
Aversa, “Economy Zips Ahead At A 5.6 Percent Pace,
Fastest In 2 1/2 Years,” The Associated Press, 6/29/06)

• Consumer Spending Was Up 5.1% In The First
Quarter, The Fastest Growth Since Late 2003.
(Rex Nutting, “GDP Revised To 5.6% In First Quarter,” The Conference Board Index Of Consumer Confidence
MarketWatch, 6/29/06) Increased To 105.7 In June From 104.7 In May. (Robert
Schroeder, “U.S. June Consumer Confidence Rises To 105.7,”
• Business Investment Increased 14.2%, The MarketWatch, 6/27/06)
Largest Increase In Six Years. (Rex Nutting, “GDP
Revised To 5.6% In First Quarter,” MarketWatch, 6/29/06) • The University Of Michigan Index Of Consumer
Sentiment Increased From 79.1 In May To 84.9
The Economy Has Grown For 18 Straight Quarters. In June. The Reading Was Also Improved From
(Bureau Of Economic Analysis Website, www.bea.gov, Accessed
6/29/06)
Its Earlier June Reading Of 82.4. (Rex Nutting,
“Consumer Sentiment Rises In Late June, Reports Say,”
MarketWatch, 6/30/06)

The Average Price Of A Gallon Of Gasoline Has
Dropped 4 Cents In The Last Two Weeks. (Energy
Information Administration Website, www.eia.doe.gov, Accessed
Sales Of New Homes Increased 4.6% In May. (Martin 6/27/06)
Crutsinger, “Sales Of New Homes Post Unexpected Increase In May,”
The Associated Press, 6/26/06) Personal Incomes And Consumer Spending Both
Increased 0.4% In May. (“Personal Income, Spending Higher In
Construction Of New Homes Increased 5% In May. May,” CNNMoney.Com, 6/30/06)
(Martin Crutsinger, “Housing Construction Posts May Increase After
Three Monthly Declines,” The Associated Press, 6/20/06)

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