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Strategies & Market Trends : Sharck Soup

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To: Sharck who started this subject	9/4/2001 11:04:28 AM
From: Softechie	of 37746

Optimism for US manufacturing recovery grows-NAPM NEW YORK, Sept 4 (Reuters) - The latest data on U.S. manufacturing activity on Tuesday offered hope that the sector is starting to recover from a year-long slump, the National Association of Purchasing Management (NAPM) said. ``I would consider this cause for optimism that the manufacturing sector has seen its worst,'' said Norbert Ore, chairman of NAPM's business survey committee, after the August survey of manufacturing activity registered its largest rise in five years. NAPM's monthly manufacturing index rose to 47.9 in August from 43.6 in July, well above economists' forecasts for a 43.9 reading. Ore told reporters in a teleconference that a prolonged inventory drawdown was nearing its end in some industries, paving the way for new production. A number of industries appear to have bottomed and were starting to grow, he said. But it would probably be a while before the hard-hit technology sector recovered, Ore said.

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