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Travel companies may also take heart from signs that the U.S. economy is not doing as badly as many experts had feared. The U.S. Commerce Department announced last week that its index of leading economic indicators jumped 1.1% in February, the first rise since last June and the biggest in three years. "The worst is over," says Transportation Secretary Samuel Skinner. "People have begun to fly again." Americans, it seems, are in a mood to travel -- even if the wallets of many dictate that they should stick closer to home...
According to my survey of the library's 1991 index and telephone directory--which I understand is slightly out of date--80 of the 115 studies in Widener and Pusey are occupied by faculty members who have offices elsewhere. At least 18 of those people have two or more offices elsewhere. Twelve of the 115 are emeritus professors...
...finally dragged consumer spending down with it. That's important because such expenditures account for two-thirds of America's economy -- so it's heartening that confidence suddenly reversed course in February, posting a small improvement. For the first time in five months, the closely watched monthly consumer confidence index of the Conference Board, a business research group, rose 2.6 points, to 57.7. That's still way below last July's 101.7, but it's a start. It also fails to reflect consumer reaction to the cease-fire, which was announced after the survey was completed. Says economist Paul Erdman...
...housing market will be in that section of the country, when we repatriate the troops and they get on with the lives they've put on hold for six to eight months." Thanks to falling interest rates and softer prices, the housing industry's Home Affordability Index is at a 14-year high...
Before the Persian Gulf war began, the stock market was in deep hibernation. But after hostilities got started, and with allied victory all but certain, investors staged fireworks of their own. Last week the Standard & Poor's 500 index hit a seven-month high of 369. The Dow exploded, rising 104 points to finish the week at 2,934.65 after a 100-point gain the previous week. The market has soared nearly 17% since the war began Jan. 16, more than regaining all the territory it lost in the months after Iraq invaded Kuwait...