Board of Governors of the Federal Reserve System

data received since the last FOMC meeting have been stronger on balance...1.4 3.2 2.8 3.1 Previous 3.3 1.5 3.6 3.0 3.1 1 Averages for final quarter

data through October on factory shipments and orders suggest a strong ...data through October suggest a noticeable upturn in most categories of

1 and then making the scanned versions text-searchable.2 Though a stringent...data that income was shifted from early 1994 into late 1993 to avoid additional

data confirm that activity has decelerated and inflation remains in check...3.1 2.1 3.6 Previous 1.4 2.8 3.6 3.6 1. Values for 1993 are from the old

data show that activity has not overshot potential and that inflation ...1-1/2 percent. We suspect, however, that subsequent data will move that

data and other evidence suggest that the labor market now has tightened...data suggest a strengthening of economic activity abroad, and we have

1-1/4 percentage points from current-quarter GDP growth. With regard to...data point to further increases in nonresidential construction. All signs

data have been far from uniform on this score, and the odds currently ...data indicate that the export-weighted growth of foreign GDP in the first

data on output in the industrial sector. The low level of initial claims...data on hours worked in manufacturing and the available physical output

1 I-2 balance, incoming price data have been more favorable than we had...data set for the current quarter still contains gaping holes, but the