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Strategies & Market Trends : Mish's Global Economic Trend Analysis

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To: Wyätt Gwyön who wrote (1079)	3/3/2004 10:49:21 AM
From: mishedlo	Read Replies (2) of 116555

U.S. February ISM Service Index Falls to 60.8 From 65.7 March 3 (Bloomberg) -- The Institute for Supply Management's index of U.S. service industries dropped to 60.8 in February. The index, which covers the financial services, construction, retail and other non-manufacturing enterprises had been at a record 65.7 the month before. Readings higher than 50 indicate expansion. Economists expected the Tempe, Arizona, institute's index to fall to 63.5, according to the median of 54 forecasts in a Bloomberg News survey. Estimates ranged from 60 to 65.5. ``It points to a slightly minor pullback in activity,'' John Herrmann, chief U.S. economist of Cantor Fitzgerald LP in New York, said before today's report. ``Profits are still growing well in the first quarter.'' quote.bloomberg.com ================================================== Minor pullback? WTF? 65.7 to 60.8 with 63.5 expected is minor?

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