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Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: stockman_scott who wrote (197828)	10/16/2002 12:25:22 PM
From: stomper	Read Replies (1) \| Respond to of 436258

New York Fed Oct business conditions down sharply Reuters, 10.16.02, 8:01 AM ET NEW YORK, Oct 16 (Reuters) - The Federal Reserve Bank of New York said on Wednesday its Empire State Manufacturing Survey showed general business conditions fell in October to the lowest level in nearly a year. The New York Fed said its general business conditions index for the manufacturing sector fell to -14.6 in October from a downwardly revised 1.9 in September. Indexes for new orders, shipments, unfilled orders and employment were all negative, and showed marked drops from the previous month. "More respondents reported worsening conditions," the New York Fed said. Although those reporting more favorable conditions remained around 22 percent, 37 percent said conditions grew worse in October, an increase from 22 percent last month. The manufacturing sector, which accounts for around one-sixth of U.S. economic activity, has stagnated in recent months, raising worries about the sustainability of the economic recovery. The survey's new orders index turned negative for the first time in nearly a year, falling to -11.1 from 8.1 and the shipments index fell to -1.2 from 14.3. But the inventories index rose slightly, entering positive territory for the first time since Sept 2001. It rose to 1.3 from -9.1. The New York Fed said price pressures grew worse in October, with the prices paid index rising to 14.9 from 4.6. Employment indexes were also negative in October, with the number of employees negative for the third straight month at -1.7 and the hours worked index falling to -8.1 from 2.7. In contrast to the current gloom, questions about the future outlook received a more upbeat response. "Although current conditions were reported to be deteriorating, expectations about the future were considerably optimistic," the survey said. Future indexes for business conditions, new orders and shipments six months from now all remained around 60, where they have been for several months. The general business conditions index for expectations six months ahead eased to 61.1 from 62.2. Copyright 2002, Reuters News Service

To: stockman_scott who wrote (197828)	10/16/2002 12:27:34 PM
From: oldirtybastard	Read Replies (1) \| Respond to of 436258

that was yesterday morning's bullshit market pump news, re-released as a lead story right after NVLS and INTC missed and warned, you just reading it now? get with the program -g-