Economic Expansion

GET READY for a series of election-year cuts in interest rates by the Federal Reserve Board. The first came Wednesday. And with the economy weaker than the nation's central bankers expected, there could be more. For President Clinton, who proclaimed the economy is "the healthiest in three decades" during his State of the Union address, lower rates can't come fast enough.During the 1992 presidential election year, Fed chairman Alan Greenspan dropped the key federal funds rate three times (once by a full half a point)

AS CARROLL COUNTY looks to develop the expansive corridor of open land along Route 140 from the county seat to the Baltimore County line, it will have to find the critical water and sewer facilities to service new businesses and industries.The county Industrial Land Use Committee has formed a task force to look at options for utilities development. The initial outlook is not promising for constructing a new sewage treatment plant in the area, because of its location in the protected Liberty Reservoir watershed.

The unemployment rate in Maryland fell in February to a seasonally adjusted 4.7 percent from 4.9 percent as the state enjoyed a widespread economic expansion.Economists said the report reflected continuing strength in the state's economy because midwinter is typically slow, and this February was much stronger than last year's.For example, the average workweek rose to 41.3 hours in February, up from 38.6 hours in the same period of 1994."The state is on track for moderate growth," for the next several months at least, said Paul Lande, a regional economist with the Johns Hopkins University's Institute for Policy Studies.

WASHINGTON -- The U.S. trade deficit soared again in May, as the U.S. economy pulled in more and more manufactured products from abroad while the weak dollar did only a little to spur foreign buying of U.S. goods and services by the still sluggish economies of Europe and Japan.The Commerce Department reported yesterday that the shortfall between exports and imports climbed to $9.17 billion from $8.53 billion in April. U.S. imports rose 1.2 percent, to a record $65.45 billion, while exports grew only two-tenths of a percent from April, to $56.27 billion.

WASHINGTON -- After a year and a half of seeking fastereconomic growth, the Clinton administration has now reluctantly changed course, putting the stability of financial markets ahead of rapid economic expansion.No longer do administration officials promote low interest rates and a falling dollar. The economy's health, coupled with the political uncertainties that have led an already weak dollar to sag further, has driven the administration to abandon those early policies.The forces driving the shift became clearer in the last week, as the dollar's slump forced 16 countries to come to its rescue on Wednesday.

WASHINGTON -- Economic news these days is full o seasonal cheer.Cash registers are ringing more loudly than they have for a long time, housing sales are at their highest in four years, auto production is the briskest in two years and unemployment is down. Banks appear readier to make business loans, and consumer confidence is improving.So, are the good times near after the long, slow haul through recession?The answer is a qualified yes, according to economists. There will likely be no boom.