41.   But a stream of bleak economic data had made it increasingly clear that European growth has slowed much more dramatically than that of the United States.

42.   But during their conference call, Fed officials decided that the full array of economic data did not yet require an emergency rate cut.

43.   But all of those arguments are contradicted by government tax and economic data, according to a new book-length study.

44.   But economic data, because they come in late, are often too old to give an accurate picture of how the economy is doing.

45.   But bonds briefly rose after the release of weaker-than-expected economic data.

46.   But economic data released Thursday, combined with reports from earlier in the week, suggested that the slowdown might be continuing.

47.   But like Mexico before the crisis, some Asian nations disclose relatively little reliable economic data that would warn investors of impending trouble.

48.   But in deciding on the smaller cut, the Fed apparently focused on overall economic data, which has contained some bright spots.

49.   But over and over again, investor fears have been assuaged by the economic data.

50.   But some soft economic data, which many traders interpreted as good for stocks and bonds, helped cushion the blow of the Treasury auction.