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Economic Impact of Attacks Pinpointed in Philadelphia Fed's Survey

For release: November 16, 2001
Contact: Kathy Woodbury, 215-574-4119

Exactly what kind of impact did the Sept. 11 attacks and the anthrax scares have on the economy? Professional forecasters project the impact in terms of consumer spending, business spending, and real GDP for this year, next year, and 2003.

Find out what professional forecasters have to say on these fronts when the Federal Reserve Bank of Philadelphia releases its Survey of Professional Forecasters (SPF) at 10 a.m., E.D.T., Tuesday, Nov. 20. The survey will be distributed on the Bank's web site at http://www.philadelphiafed.org/econ/spf/index.html and over PR Newswire.

Are we currently in a recession? When will recovery begin? Each quarter, the Philadelphia Fed's Research Department surveys more than 30 professional forecasters on their predictions for long-term inflation expectations, unemployment, CPI, interest rates, real GDP, government spending, net exports, and other economic variables. For an interview with one of the Bank's economists about the survey, contact Kathy Woodbury at (215) 574-4119 before the release.

The Federal Reserve Bank of Philadelphia serves depository institutions in eastern Pennsylvania, southern New Jersey, and Delaware by supplying cash to these banks and thrifts, supervising them, wiring money and securities nationwide, collecting and processing nearly 5 million checks daily, as well as participating in setting monetary policy.

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Media Contacts

Marilyn Wimp, ABC E-mail
Manager of Media Relations
(215) 574-4197
(267) 254-4555 (cell)

Daneil Mazone E-mail
Media Relations Representative
(215) 574-7163
(267) 535-1808 (cell)