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To: lightwave51 who wrote (1608)	8/16/2001 12:23:38 PM
From: lightwave51	Read Replies (1) \| Respond to of 2155

Philly Fed shows further weakness By Rex Nutting Manufacturing activity fell again in August in the Middle Atlantic states, the Federal Reserve Bank of Philadelphia reported Thursday. Its current activity index plunged to -23.5 in August from -12.2 in July. New orders fell to -20.4 from -5.7. Shipments improved to -17.4 from -20.2. Prices paid fell to -9.2 from -4.9. Firms also received lower prices for their finished goods. Firms cut their inventories and payrolls, the survey showed. On the other hand, expectations about a recovery remained upbeat, with 53% of firms expecting better times ahead. About half of the firms said the strong dollar was hurting business, with 18% reporting substantial negative effects.