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To: Augustus Gloop who wrote (12172)	8/1/2002 2:50:24 PM
From: Petrol	Read Replies (1) \| Respond to of 17639

Sounds like manufacturing is growing at a negative pace

To: Augustus Gloop who wrote (12172)	8/1/2002 2:51:19 PM
From: Jorj X Mckie	Read Replies (1) \| Respond to of 17639

yeah, that jISM report wasn't that bullish 10:14 ET ISM weakness prompts Dow decline Hard to believe that an entirely predictable decline in the ISM prompted a 100 pt Dow decline; the previously released Philly and Chicago indexes fell 5.2 and 6.7 pts respectively (on an ISM basis). That averages to -5.95, almost identical to the 5.7 pt decline in today's ISM. The question is not why the ISM fell - the Philly/Chicago numbers accurately foretold that, the question is why this was a surprise to the market. As with GDP yesterday, ISM confirms that the economic recovery remains intact but "uneven" - the Fed's favored description.