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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (59985)	2/5/2002 12:54:37 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

U.S. December Factory Orders Seen Rising: Bloomberg Survey By Carlos Torres and Kristy McKeaney 02/05 00:01 quote.bloomberg.com Washington, Feb. 5 (Bloomberg) -- New orders at U.S. manufacturers probably rose in December for the second time in three months, a sign the factory slump that began a year and a half ago is on the verge of ending, analysts said in advance of a government report today. A 1.2 percent increase in orders, to $325.6 billion, is expected for the month, according to the median of 41 forecasts in a Bloomberg News survey. Orders had dropped 3.3 percent in November after a 7.1 percent rise in October, and had fallen for four consecutive months before then. Companies reduced stockpiles of unsold goods at an annual rate of $120.6 billion during the fourth quarter, the largest amount on record. That may open the way for factories to turn out more goods. Harley-Davidson Inc., the largest U.S. motorcycle maker, and Hewlett-Packard Co., the No. 2 computer maker, are among companies forecasting improved sales and profits. Manufacturers ``are beginning to dig out of recession,'' said Richard DeKaser, chief economist at National City Corp. in Cleveland. ``The inventory overhang is behind us and should present no drag on economic activity.'' The Commerce Department is scheduled to release its report on factory orders at 10 a.m. Washington time. At the same time, the Institute for Supply Management is scheduled to release its January business index for service companies and other nonmanufacturing businesses. Analysts expect the index to show an increase, to 52 from 50.1 in December. The expected January reading would be the highest since June and the second straight month above 50, which hasn't occurred since the economy fell into recession last March. An index reading above 50 signals expansion.