By Pete Julius

Since September 11, 2001, our country has endured many hardships.  In addition to the terrorist attacks, an economic recession and accounting scandals have created daunting challenges.  The September 16, 2002 edition of Business Week focuses on the achievements of business despite the difficulties of this past year.

In this Business Week edition, several articles describe the changes that have resulted from that fateful day.  They include the costs of fighting the war on terrorism and its economic impact; the struggles of revitalizing ground zero; and a success story on one of the firms that was heavily damaged by the attacks.  Below are some of the most interesting points from that Business Week edition.

  • The economy survived better than anticipated – economic growth has averaged 3% over the past three quarters.
  • Consumer spending, housing starts, real wages, and manufacturing output are higher than last August.
  • 2002 second-quarter operating profits are up 8.7%–compared to 2001 second quarter.
  • Long-term economic outlooks will depend on government expenditures on the war on terrorism and homeland security.
  • Workers and business investment will be most affected by increased costs for fighting terrorism.
  • Tech spending has not increased as rapidly as originally thought with the emphasis on security.
  • Our country has fared better than expected due to our diverse political and economic systems.
  • Government spending on national defense over the past year has increased to heights not seen since 1982.

These highlights illustrate the adjustments that the country and economy have made over the past year.  While it has been a difficult and strenuous time, these articles represent the resilience and spirit of this country when pushed to the edge.