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mrmitchell
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Thank you, Fez, for showing me the light...
Thank you, Fez, for showing me that the liberals were, as always, wrong...
Thank you, Fez, for showing me that our economy IS rebounding...
or, at least, if you say it enough, it makes it true...


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Giancarlo
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Los Angeles
Apr 2000 time: 02:30
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The economy is expanding facts show... expanding cautiously, nonetheless supporting my opinion.
http://www.washingtonpost.com/wp-dy...9-2003Aug1.html
quote: NEW YORK –– Business activity in the manufacturing sector expanded in July for the first time in five months, a private research group reported Friday, the latest sign that the economy may be recovering.
The Institute for Supply Management reported that its manufacturing index stood at 51.8 in July, up from 49.8 in June. A reading below 50 indicates that manufacturing activity is slowing, and a reading above 50 indicates expansion.
Norbert J. Ore, who oversees the index for the ISM, said that the improvement in new orders at manufacturers was "very encouraging, and reinforces the possibility that the economy will continue to improve during the second half of the year."
The index is based on a survey of managers who buy raw materials in 20 industries.
Economists had been forecasting a reading of 52.0 in the index.
A closely watched component of the ISM's report, the new orders index, rose 4.4 percentage points to 56.6 percent in July. Ore called the surge in new orders "very positive for the sector."
Ore, who is also director of sourcing and procurement at Georgia-Pacific Corp., a major paper manufacturer, said that "overall, the manufacturing sector is trending very positively and appears poised to continue a pattern of growth in the second half of the year.
However, Ore cautioned that many respondents to the ISM's survey still did not see a revovery for their businesses. Many are still concerned by high costs for natural gas and oil. Overall, manufacturers faced higher prices for the 17th consecutive month.
Also, employment in the manufacturing sector continued to contract for the 34th consecutive month, in a sign of continued weakness. |
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