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The article notes that new figures indicate that China is the world's fourth-largest economy, following the announcement that its economy is considerably bigger than previously estimated. Economists and experts are rethinking their assessment of China's rise and its international role. The new figures offer a more expansive view of economic activity. Some say that China could overtake the U.S. by 2035. China revised its economic data after a nationwide census uncovered billions of dollars in hidden economic output in 2004. China's gross domestic product for 2004 is estimated at nearly two trillion dollars.

Examines the economic indicators and how they can be perceived as good or bad news for the economic condition of the United States. Comments from J. B. Mitchell, a professor of management and public policy at the University of California at Los Angeles regarding the governmental reports and their uselessness in forecasting economic prospects; Statistics from the Bureau of Labor indicating a decrease in payrolls yet an increase in the total number of employed people, suggesting they predict entirely different forecasts for the economy; Comments from Thomas J. Nardone, who supervises the survey of households as chief of the Bureau of Labor's division of labor force statistics.

Discusses the findings of Stanford economist Michael J. Boskin, who released a paper suggesting that the federal government had $12 trillion coming that no one had counted. Implications of the finding; Boskin's admission that his equations contained an error; Background on Boskin, who was chairman of the Council of Economic Advisers under U.S. President George Bush; How several economists found flaws in Boskin's forecast of a tax windfall; Boskin's defense of his main point.

Examines economic indicators in the U.S., in particular the business sector. Need for business confidence in order for companies to grow; Implications of changes in banks' commercial lending; Views of executives, including Todd C. Moules of National City Corporation; Industrial production; Housing starts; Commercial banking outlook; Commercial and industrial loans; Reasons why business has been slow to recover.

Discusses the dollar's fall in value against the euro and other currencies. Effect of the fall on consumers, business, and investors; Possibility that consumers will face higher prices; Price of imported goods that may rise; Example of Louis Vuitton of North America; Comments from John Nelson, a managing director in charge of global foreign exchange at ABN Amro Bank in Chicago, Illinois.

Reports that the U.S. economy expanded in the first quarter 2003. How some forecasters saw encouraging signs; Suggestion that some leading indicators of economic activity are offering hope for the future; How labor market conditions, investment by the private sector and other factors have hindered growth; Outlook for the government's push for new tax cuts; Investment in housing; Decline in imports; Conditions in financial markets.

Discusses U.S. economic forecasts made by writer James F. Smith and executive Nancy R. Lazar. Estimates from the forecasters on Wall Street; Assertion that the economy will improve; Faith that middle-class consumers will keep the economy growing; Impact of rate cuts by the Federal Reserve.

Reports that some economists are increasingly concerned about the prospect of a double dip recession in the United States in 2002.

Reports on positive reports concerning economic recovery in the United States as of winter 2001. Figures on home sales, consumer confidence, sales of durable goods and unemployment claims; Warning of economists that recovery is expected to be slow in 2002; Suggestion that consumers have recovered from the September 11 terrorist attacks quicker than expected.

Discusses the outlook for United States economic recovery as of December, 2001. How the economy has failed to respond as strongly as expected to positive signs, such as interest rate cuts and falling oil prices; Impact of a deterioration of the federal budget outlook due to increased spending on security and the war in Afghanistan; Decision of lenders to tighten credit.