Fourth Quarter 2003, Volume 5, Number 4

Federal Reserve Bank of Atlanta
EconSouth

In This Issue

STAFF

Lynne Anservitz
Editorial Director

Lynn Foley
Managing Editor

Stephen Kay
Madeline Zavodny
Contributing Editors

William Smith
Jean Tate
Staff Writers

Michael Chriszt
Harriette D. Grissom
Contributing Writers

Carole Starkey
Peter Hamilton
Designers

EDITORIAL COMMITTEE

Bobbie H. McCrackin
VP and Public Affairs
Officer

Thomas J. Cunningham
VP and Associate
Director of Research

Pierce Nelson
AVP and Public
Information Officer

John C. Robertson
AVP, Research Department
Regional Section

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ISSN 0899-6571

Photographs on cover and pages 2, 5 and 7 by Brad Newton; cover and pages 2, 8 and 20 courtesy of Nissan; and pages 8 and 9 courtesy of Mercedes-Benz.

Volume 5, Number 4, Fourth Quarter 2003
		CURRENT ISSUE Hard Choices Ahead for Social Security

		COVER STORY More Balanced Economic Growth Ahead for Nation and Southeast The economic outlook for both the nation and the Southeast is brighter for 2004 than it has been for several years. As this article points out, increased business investment and steady consumer spending should combine to boost employment during the year.

		FEATURES Economic Recovery Gains Ground in the Southeast While the individual economies of the six states of the Southeast posted mixed results in 2003, the overall performance of the region surpassed that of the nation as a whole. In 2004 Florida and Georgia will continue to drive the Southeastern economy as the region’s other states strive to move forward after several years of sluggish performance.
		The Global Economy Heats Up Slow growth plagued much of the global economy in the early part of 2003 as geopolitical concerns, including war, SARS and rising energy prices, weighed heavily on many nations. As the geopolitical picture cleared later in the year, the world’s largest economies began to strengthen. In 2004 this trend should continue although the outlook varies from region to region.

		DEPARTMENTS Research Notes & News Dollar Index Southeastern Economic Indicators