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To: Box-By-The-Riviera™ who wrote (119369)	9/4/2001 10:21:40 AM
From: Les H	Read Replies (2) \| Respond to of 436258

ECONOMY TALK: The NAPM rose to 47.9 for August, well above expectations for a smaller increase to 44.0 from July's 43.6. August was the highest reading since November 2000, when the index was also at 47.9. The index has now been below 50 (indicating contraction) for 13 consecutive months. However, the production component rose above 50 for the first time since November, hitting 52.2 in August from 46.4 in July. Also, the new orders component rose above 50 as well. The new orders index rose to 53.1, its highest reading since April 2000 and the first reading above 50 since June 2000 (although the component hit 50.0 in August 2000). Not good for Home Depot ECONOMY TALK: Construction spending fell 0.1% in July, slightly weaker than the flat reading the market was expecting. And June construction spending was revised down to -1.0% from the initial estimate of -0.7%. Construction spending hasn't increased since February's 1.1% gain. Still, construction spending during the first seven months of the year was $481.6 billion, up 6% from the same period in 2000. Residential construction spending fell 0.7% in July as home improvement spending dropped 3.6%, although spending on single-family home construction rose 0.5%.