Word: drying
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Dates: during 2001-2001
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...their lives are secure. And no one knows when that day will come, in a war against an invisible enemy with a front line that could be in Afghanistan--or Albuquerque. "Tourism and travel are at financial ground zero," says Andrew Hodge, chief U.S. economist at the forecasting firm DRI-WEFA, who figures absent foreign tourists alone could account for around $10 billion in losses in the fourth quarter...
Neither the markets nor the economy is likely to rally until Americans feel more confident that they're safe from further terror attacks. "I'm not sure we're going to get bin Laden, and that may be unsatisfying," says Andrew Hodge, chief U.S. economist for the forecasting firm DRI-WEFA. "You may not have the sort of immediate, decisive action that makes people feel that good...
SOURCES: World economic growth forecast by DRI-WEFA. Other data from Commerce Department, World Bank, European Commission Directorate General for Economic and Financial Affairs
...OPEC oil sources have increased significantly since then. But higher energy costs are like an ugly tax. Consumers shelled out an extra $50 billion last year because of higher gas prices. "The danger is that OPEC could be too successful," says Nariman Behravesh, chief global economist for DRI-WEFA, an economic consulting firm. "If they hang tough with their quotas and oil prices stay high as the world economy slows down, the downturn could be even more pronounced...
...OPEC oil sources have increased significantly since then. But higher energy costs are like an ugly tax. Consumers shelled out an extra $50 billion last year because of higher gas prices. "The danger is that OPEC could be too successful," says Nariman Behravesh, chief global economist for DRI-WEFA, an economic consulting firm. "If they hang tough with their quotas and oil prices stay high as the world economy slows down, the downturn could be even more pronounced...