The 'AA' rating on Albuquerque, N.M.'s GO bonds reflects: An expanding and diverse economic base; Slightly above average wealth and income indicators; Moderate debt levels; and, Sound financial performance. Albuquerque, with a population of 448,607, is New Mexico's largest city and economic center. Services and trade (56% of labor force), government (19.4%), and manufacturing (7.7 %) represent the economic core of the city. Since much manufacturing is concentrated in high technology firms, employment trends have been flat in this sector since 1996, reflecting diminished demand caused by the Asian economic crisis. However, unemployment rates in the city (4.2%) remain below state (6.3%) and national (4.2%) averages and there are signs that the manufacturing sector will expand in the next few
