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To: Haim R. Branisteanu who wrote (56546)	7/13/2000 11:51:07 PM
From: Saulamanca	Read Replies (1) \| Respond to of 99985

Haim, Don`t start howling at the moon until the weekend.<g> googol.com --Jim

To: Haim R. Branisteanu who wrote (56546)	7/14/2000 12:07:08 AM
From: UnBelievable	Read Replies (1) \| Respond to of 99985

Its A Good Thing There Is No Inflation, Only Price Increases More US Businesses Are Increasing Prices 07/14/2000 Dow Jones News Services By Nicholas Kulish Staff Reporter of The Wall Street Journal WASHINGTON -- A survey of business economists showed that more companies are raising prices than at any time during the past five years, while a separate report shows import costs continue to rise on spiking petroleum prices. The National Association for Business Economics said one third of the businesses it surveyed had increased prices in the second quarter and half expected to do so later this year. Meanwhile, the Labor Department said import prices climbed 0.8% in June, compared with a 0.3% increase the previous month. Prices on petroleum imports jumped 7% last month, compared with a 4.8% rise in May. Excluding oil, import prices were flat in June, compared with a decline of 0.2% in May. Import prices fell during much of the late 1990s, helping to restrain inflation for both consumers and producers. If prices on goods produced abroad rise, U.S. residents will lose the cheaper alternatives that have helped keep rising costs for many products at bay. Of the 127 economists surveyed by the NABE, 33% said their companies increased prices last quarter compared with 29% during the first quarter and just 20% for the fourth quarter of 1999. The NABE attributes higher prices primarily to rising wages and materials costs. Just 5% of businesses reported falling input prices, compared with 60% that saw them increasing, the group said. "You've got an environment ripe for inflation; however, that acceleration is very likely to be gradual," said NABE President Diane Swonk, the chief economist at Bank One Corp. in Chicago. "For years, these firms were saying, `Well, we don't have any pricing power.' That's changed." Federal Reserve Board members have cautioned that the economy still shows signs of inflationary pressure, though they chose not to raise interest rates at their June meeting. Markets and economists have been watching economic indicators closely, searching for signs of the so-called soft landing, a slowdown to a more-sustainable growth level. "Whenever you hit a turning point, you get crosscurrents. The trends that are emerging are not alarming, but they certainly do raise a yellow flag," Ms. Swonk said. The NABE survey reported that 52% of respondents saw demand rise in the second quarter, compared with 48% in the first, suggesting continued rapid growth in the U.S. economy. "It's not as optimistic about a soft-landing scenario," she said. Today's report on the June producer price index could allay or heighten fears. Economists surveyed by Dow Jones Newswires and CNBC expect a 0.6% rise in the overall June PPI and a moderate increase of 0.1% in the core rate, which excludes food and energy prices. Higher readings could raise concerns of further interest-rate increases when the Fed Open-Market Committee meets Aug. 22. "Those that are hoping for an end to Fed tightening may be premature," Ms. Swonk said. In a separate report, the Labor Department said new claims for unemployment benefits rose 27,000 to a seasonally adjusted 319,000 last week. It marks the largest single increase since the start of the year. The Labor Department said this period typically shows layoffs in the auto industry for retooling. That view is supported by a jump in claims in Michigan, which had the largest increase of any state. Jobless claims had fallen by 15,000 to 292,000 the week before last. The four-week moving average, which smooths out weekly fluctuations, rose 5,250 to 305,500. (Copyright © 2000 Dow Jones & Company, Inc.)

To: Haim R. Branisteanu who wrote (56546)	7/14/2000 12:14:51 AM
From: John T.	Respond to of 99985

Haim -- tycho.usno.navy.mil Full Moon on July 16th: aa.usno.navy.mil