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Commerce Dept. Says Economy Is Good for Papers

Magazine article Editor & Publisher

Commerce Dept. Says Economy Is Good for Papers

Article excerpt

Revenues for the newspaper industry over the next five years will decline slightly, but advertising is expected to grow 5% to 7%, the U.S. Department of Commerce announced. And newspapers are in a great position to dominate the World Wide Web, if they can figure out which is best: being a content provider for others or for themselves.

The commerce forecasts were released Jan. 26 in the 1999 edition of "U.S. Industry & Trade Outlook," produced in conjunction with the McGraw-Hill Cos. The book examines more than 200 manufacturing and service industries.

The five-year forecasts show the U.S. economy continuing to grow, albeit at a slower rate, said Michael J. Copps, assistant secretary for trade development, at a Jan. 26 briefing at the National Press Building in Washington. The economy is in its 94th month of growth, with 17 million jobs created since 1993, he says.

David A. Wyss, chief economist of Standard & Poor's DRI, explains that all authors of "Outlook" worked from the same set of economic assumptions. Over the next few years, growth of 3% to 5% is projected. Wyss says the United States is enjoying the longest peacetime economic expansion in the nation's history. "No economic expansion has made it until its ninth birthday. …

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