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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (181095)7/18/2002 12:13:16 PM
From: Haim R. Branisteanu   of 436258
 
U.S. Philadelphia-Area Factory Index Falls to 6.6 in July (economy weakening)
By Siobhan Hughes

Washington, July 18 (Bloomberg) -- Manufacturing in the Philadelphia area expanded during July at the slowest pace for this year.

The Philadelphia Federal Reserve Bank's general economic index fell to 6.6 this month from a four-year high of 22.2 in June. That was less than the 17.5 expected by economists.

``The pace of growth is less robust,'' said Richard DeKaser, an economist at National City Corp. in Cleveland.

Economists had expected a reading of 17.5, based on the median of 37 forecasts in a Bloomberg News survey.
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