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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: John Pitera who wrote (4132)	6/22/2001 1:24:25 AM
From: Chris	Respond to of 33421

thanks for the post. i read your insights everday

To: John Pitera who wrote (4132)	6/22/2001 1:27:38 AM
From: John Pitera	Respond to of 33421

Philadelphia Fed Philadelphia Fed index improved to -3.7 in June -- better but still below the neutral mark. 7th consecutive reading below neutral; mfg recession may not have hit bottom though worst of regional decline is past . Jump in prices paid to 17.8 worsens the profit squeeze as prices received have been below 0 since October. New orders fell to lowest level since Feb, Shipments (sales) to the lowest since March. Employment worsens with double digit declines since March, labor market lags orders/production/shipments. 6 month outlook continues to rocket higher. At 58.2 in June as new orders outlook jumped to 55.8. Trade Balance April trade deficit fell to $32.174 bln from strong upward revisions to prior months deficits. Imports fell 2.2% after a revised 2.3% March rise. Consumer goods provided the vast bulk of the decline. Oil/petroleum imports rose given gains in both volume and price. Exports fell 2.0% following a like-sized March decline. Capital goods provided the bulk. Auto imports rose as aircraft fell off. Pacific Rim provided 47% of the April deficit, NAFTA neighbors provided 20%.