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Chicago Fed Letter, No. 177, May 2002
Manufacturing Sector Critical in Midwest Recovery
With the national economy beginning to show signs of life, economists from around the Midwest gathered to discuss the outlook for the region in 2002. Because the consumer sector, which remained surprisingly resilient through the downturn, is expected to make only a modest contribution to economic growth this year, many analysts are expecting lower vehicle sales and a modestly weaker housing sector. Several factors indicate the recovery in manufacturing is likely to be restrained.
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