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Technology Stocks : Semi Equipment Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Lizzie Tudor who wrote (11482)	9/7/2003 10:37:59 AM
From: Sarmad Y. Hermiz	Respond to of 95611

>> there is another explanation for the high productivity numbers though. Liz, I don't think the level of offshore consulting changes drastically from one month to the next. The productivity increase was at the rate of annual 6% in the 2nd quarter. There has been a continuous level of outsourcing labor for a long time. But the latest increase in productivity was a jump above the back-ground rate. >> For this reason I think those productivity metrics (whatever they are) need to be re-evaluated, I'm not sure if it is showing what we want to show. Productivity stats attempt to measure domestic production. But I don't know how well domestic is differentiated from foreign, especially when there is a mix of each. But I think the intermingled goods/services are a small portion of over-all GDP. For physical goods, I think the productivity number is accurate. So I'm expecting total employment to show a rise next month. Just in time to take the market to a further high. Sarmad