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To: Victor Lazlo who wrote (139381)	2/16/2002 12:39:39 PM
From: Glenn D. Rudolph	Respond to of 164684

"The same people who told us the econmy would rebound in Q2 2001 are now saying that. But it's clear to me that the economy is going to drag along the bottom for a while. I don't see much more to the downside, but I'd love to know what the catalysts will supposedly be for a rebound in late 2002." I never predict the economy here nor do I listen to the "experts." Simply, consumer spending and sentiment is improving, manufacturing is improving, job creation is improving, the desire to own physical goods is increasing and this will lead to a second half reasonably strong recovery. That is my opinion. I base it on my business contacts and I plan my personal business around my beliefs. You may take all the numbers you would like from the government reports but I am telling you consumer spending is increasing.

To: Victor Lazlo who wrote (139381)	2/16/2002 1:38:46 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 164684

--- Retail Rap Weekly Comment --- U.S. retail Valentine Day sales looking 3% to 4% better than last year. Overall U.S. consumer demand steady. Jewelers are reporting continued demand at lower price points and improved demand for a broader range of categories including designer jewelry and more expensive items. Three stone pieces remain strong with less skewing of demand toward bridal and anniversary jewelry. U.S. Commerce Department reported that „clothing and accessories‰ sales this January was 2.5% higher than December and 2.1% greater than January 2001. The „clothing and accessories‰ category includes jewelry sales. === U.S. News === --- Finlay‚s Fiscal 2001 Sales Declined 3.7% Finlay‚s sales for fiscal 2001 declined 3.7% to $952.8 million. Comparable store sales during 2001 declined 3%. For the fourth quarter, ended February 2, Finlay‚s sales declined 6.2% to $388.1 million, and comparable store sales declined 3%. --- U.S. Unemployment Declines 2.1% The Labor Department reported the number of Americans filing new claims for unemployment benefits fell 2.1% to 373,000 in the week ended February 9. Continued claims ˜ the number of people drawing unemployment benefits for more than a week ˜ increased slightly to 3.43 million in the week ended February 2. === World News === --- Antwerp‚s Polished Exports Up 23.8% During January Antwerp January Diamond Statistics % Change 2001 Amount in $ Million ________________________________________________________________ Polished Exports + 23.8% $514.5 million Rough Exports + 11.2% $579.4 million Polished Imports + 10.4% $506.8 million Rough Imports - 6.7% $576.8 million The United States was the primary destination of Antwerp‚s polished exports, receiving 37% of the total. Hong Kong received 9%, Israel 8.8%, Italy 8.3% and the United Kingdom 6.3%. „The good results in January have to be seen in light of December sales,‰ says Peter Meeus, HRD managing director. „The numbers are encouraging for 2002 although caution remains wise. The current cyclical numbers do not justify a euphoria for the first half of the year.‰