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Technology Stocks : Applied Materials No-Politics Thread (AMAT) -- Ignore unavailable to you. Want to Upgrade?

To: Proud_Infidel who wrote (2900)	9/5/2002 8:59:34 AM
From: Proud_Infidel	Respond to of 25522

Productivity Growth Revised Upward Thursday September 5, 8:39 am ET WASHINGTON (Reuters) - U.S. productivity grew faster in the second quarter than had been previously thought although the pace of growth was significantly below the first-quarter clip, according to the government's revised estimate released on Thursday. The Labor Department said nonfarm productivity, or output per worker hour, grew at a 1.5 percent annual rate in the second quarter, an upward revision to the original 1.1 percent annual pace previously reported. Still, the rate was down sharply from the first quarter's 8.6 percent annual rate. An upward revision in total output offset a slightly higher estimate of hourly compensation. That brought unit labor costs, a closely watched measure of wage pressures, in the new report to a 2.1 percent annual rate from the previously reported 2.4 percent rate. It was the biggest gain in unit labor costs since the first quarter of 2001. The revisions were larger than Wall Street had been anticipating. In a Reuters poll of economists, the average forecast called for productivity to be revised to a 1.2 percent annual rate and unit labor costs to be moved to a 2.3 percent rate.

To: Proud_Infidel who wrote (2900)	9/5/2002 10:28:37 AM
From: Cary Salsberg	Read Replies (2) \| Respond to of 25522

If you liked it at 10.22, you should love it at 8.38. Long term prospects have not changed. Of course, a plan that reserves funds for 7 and 6 is rational, but those funds might not be committed. This is not a time for rant or disgust. It is a time to internalize the seeming helplessness the market engenders and to assess your ability to act rationally at such times.