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

To: yard_man who wrote (254492)	8/6/2003 9:37:03 PM
From: Haim R. Branisteanu	Read Replies (1) \| Respond to of 436258

ECB's Issing Sees Recovery, Says Interest Rates `Appropriate' quote.bloomberg.com Aug. 6 (Bloomberg) -- European Central Bank Chief Economist Otmar Issing said he expects a recovery in the economy of the dozen nations sharing the euro, a signal policy makers may be done paring interest rates. ``There are good reasons to reckon with an improvement in economic activity in the second half of 2003, which will gain pace in 2004,'' Issing told Boersen-Zeitung in an interview. Issing, whose comments were confirmed by ECB spokesman Manfred Koerber, cited faster global growth, slowing inflation, improving financial markets, rising business confidence and low interest rates as supporting a recovery and the U.S. current account deficit as a risk. European Economies: German Manufacturing Orders Rise (Update1) Aug. 6 (Bloomberg) -- German factory orders rose at the fastest pace in five months in June, led by demand from abroad, adding to evidence Europe's largest economy may start to grow again in the second half. Factory orders rose 2.3 percent after declining 2.6 percent in May, the Economics Ministry in Berlin reported. Economists had expected an increase of 0.8 percent. The jobless rate held at 10.6 percent last month, a separate report today showed, suggesting companies will wait for stronger growth before hiring again. (interesting that the jobless rate there is the same as in the US but in the US it is called 6.4% .. bls.gov