51.   Analysts had expected an even-weaker inventory growth number for the first quarter.

52.   Analysts said the slew of disappointing earnings in the first quarter caused many analysts to rethink their bright projections for earnings growth.

53.   Analysts said the strategy paid off in the first quarter.

54.   Analysts said they expect banks to bid down the repo rate gradually during the first quarter, keeping hopes for another interest-rate cut alive.

55.   Analysts said they had expected that the first quarter would be hard for Compaq, but were surprised by the magnitude of the shortfall.

56.   And despite predicting a slow first quarter, the company issued a bright outlook for the year.

57.   And during the first quarter, it seemed as if that might work.

58.   And in the first quarter of this year, Cemex expects a single-digit increase in sales volume in its U.S. operations.

59.   And in the first quarter, it was evident.

60.   And a major inflation gauge remained low, the government report said, rising at only half the rate it did in the first quarter.