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To: H James Morris who wrote (138010)	1/28/2002 8:47:23 AM
From: craig crawford	Respond to of 164684

GE's Immelt: No U.S. Upturn Until 2003 biz.yahoo.com Monday January 28, 8:28 am Eastern Time By Jennifer Laidlaw and David Lawsky BRUSSELS (Reuters) - General Electric Co's plastics order book suggests the U.S. economy is not likely to begin improving until next year, Chief Executive Officer Jeff Immelt said on Monday. Immelt said told Reuters after a speech in Brussels that he watches GE's plastics business as a guide to wider economic performance in the future because plastics use pervades industry and it has a short business cycle. ``Customers' inventories are very low, but we haven't seen order rates start picking up yet and that's our leading indicator,'' he said in the interview. Immelt added that historical patterns suggested the recession would end by 2003.