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Strategies & Market Trends : John Pitera's Market Laboratory

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To: bafi403 who wrote (5784)	3/5/2002 3:14:18 PM
From: John Pitera	Read Replies (2) of 33421

a Good point you raise. Interesting that the former NAPM had such a strong rise this month, I'm curious what the next 2 months will read --------- Service Sector Rebounds Sharply, Raising Hope for Steady Recovery A WALL STREET JOURNAL ONLINE NEWS ROUNDUP NEW YORK -- The U.S. service sector rebounded sharply in February after an unexpected contraction the previous month. The Institute for Supply Management said its nonmanufacturing index jumped to 58.7, the highest level since November 2000. That followed January's unexpected drop to 49.6. A reading above 50 indicates expansion. The index is based on a survey of purchasing managers. Economists had expected some recovery in the sector, but were predicting the index would rise only slightly to 51, according to a survey by Thomson Global Markets. The greater-than-expected jump in February "may represent a breakout of the nonmanufacturing economy into continued growth in the coming months," said Ralph G. Kauffman, coordinator of the report. The group's new-orders index, a measure of future activity, rose to 57.3 after slipping to 49.4 in January. Jobs remained a weak spot in the report. The employment index fell to 43.6 from 44.5 a month earlier. Updated March 5, 2002 11:00 a.m. EST

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