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

To: StanX Long who wrote (61624)	3/7/2002 12:44:18 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Factory orders rise 1.2 percent host.wallstreetcity.com WASHINGTON, Mar 06, 2002 (United Press International via COMTEX) -- The Commerce Department said Wednesday that orders for manufactured goods rose for the second consecutive month during January, improving 1.6 percent to $325.8 billion. Economists on Wall Street were expecting new orders placed with U.S. factories to rise by 1.5 percent after rising a revised 0.7 percent in December, which the government originally reported as rising 1.2 percent. Analysts noted that orders have fallen in seven of the past 12 months and have not risen for two consecutive months since February and March of last year, when the economy slipped into its first recession in a decade. The government agency said excluding transportation equipment, orders rose 1.2 percent after rising a revised 0.5 percent a month earlier, which was originally reported as improving 0.8 percent. The latest report showed orders for transportation equipment rose 4.1 percent in January after rising 1.8 percent in December. The Commerce Department said orders for computers and electronic products increased 1.9 percent in January after jumping 3.6 percent in January.

To: StanX Long who wrote (61624)	3/7/2002 3:25:59 AM
From: StanX Long	Respond to of 70976

Greenspan Testimony Likely to Try to Square Forecast With Data By Michael McKee quote.bloomberg.com Washington, March 7 (Bloomberg) -- Recent reports showing the economy is coming out of recession will make it harder for Federal Reserve Chairman Alan Greenspan to justify the restrained Fed growth forecast he's expected to present to the Senate Banking Committee today, analysts say. Greenspan's testimony is likely echo remarks he presented last Wednesday to the House Financial Services Committee. Since then, better-than-expected readings have been reported for factories and service companies, existing home sales, and consumer spending. Fourth quarter economic growth was revised up to a 1.4 percent annual rate from the 0.2 percent pace estimated in January. The Fed chairman told House members he and his central bank colleagues see a ``moderate'' recovery from the country's first recession in a decade, suggesting he's in no hurry to raise the benchmark overnight lending rate from a 40-year low of 1.75 percent. That view may be harder to sell now, analysts said.