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Newspaper
Bluefield Daily Telegraph
Location
Bluefield, West Virginia, United States of America
Date
Sep 25, 2002
Page
10
On Tuesday stocks slid amid weak earnings and a criminal probe into Xerox accounting. The Dow dropped 189 points to 7,683, the Nasdaq slid to 1,182, and the S&P 500 fell to 819 as investors weighed a Fed hold against rising Iraq tensions.
Steve Layfield of Abingdon Virginia vice president of UMC told Bluefield Rotary the economy is in pretty good shape. He cited 1995 to 2000 as the best sustained growth since the late 1960s and noted deflation rather than inflation as a current concern. He said growth is modest and not a recession, with 80 percent of expansion in savings deposits and real wages rising about 2 percent.
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