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Politics : PRESIDENT GEORGE W. BUSH -- Ignore unavailable to you. Want to Upgrade?

To: Kenneth E. Phillipps who wrote (501364)	12/1/2003 9:59:38 AM
From: DuckTapeSunroof	Respond to of 769667

I don't expect any 'spending restraint' until the bond market collapses....

To: Kenneth E. Phillipps who wrote (501364)	12/1/2003 10:16:07 AM
From: JakeStraw	Respond to of 769667

Construction Spending in Oct. Hits High By JEANNINE AVERSA Associated Press Writer WASHINGTON (AP) -- Construction spending in October registered its best month on record, an encouraging sign for the economic recovery's staying power. The Commerce Department reported Monday that the total value of building projects under way came in at a seasonally adjusted $922 billion in October, representing a 0.9 percent increase from the previous month. The $922 billion level was an all-time monthly high and the percentage change from the previous month was even better than the 0.6 percent rise that analysts were forecasting. The strength was fairly broad based, with spending by private builders on residential construction and spending by government on big public works projects each posting the highest monthly level on record customwire.ap.org

To: Kenneth E. Phillipps who wrote (501364)	12/1/2003 11:23:10 AM
From: JakeStraw	Respond to of 769667

Factories Hum, Construction Booms Monday December 1, 10:55 am ET By Eric Burroughs NEW YORK (Reuters) - U.S. factory activity surged to its fastest pace in two decades in November and construction spending hit another record high the prior month, according to reports on Monday showing the economy's rapid growth is reversing three years of job losses. The Institute for Supply Management said its manufacturing index jumped to 62.8 in November, the highest since December 1983, from 57.0 a month earlier. That easily beat the forecasts of Wall Street economists. With growth so strong and new orders still flooding in, factories hired workers for the first time in 37 months, according to the survey. That good news comes before government data to be released on Friday that is expected to show companies added 136,000 workers in November, according to forecasts. "We've probably turned the corner on the employment trend," said Gary Thayer, chief economist at A.G. Edwards & Sons in St. Louis.

To: Kenneth E. Phillipps who wrote (501364)	12/1/2003 11:31:34 AM
From: JakeStraw	Read Replies (2) \| Respond to of 769667

Factories Roar at Fastest Clip in 20 Yrs December 01, 2003 10:30:00 AM ET NEW YORK (Reuters) - U.S. factories charged ahead in November at their quickest pace since 1983, far exceeding economists' forecasts and putting to rest any lingering doubts that a manufacturing recovery will prove sustainable. As the first inklings of a jobs rebound surfaced, the Institute for Supply Management said on Monday its barometer of manufacturing activity surged to 62.8 in November from 57.0 in October. Wall Street economists had predicted a rise to 58.0. ``What we saw was an amazing month in November by just about any standard,'' said Norbert Ore, the ISM executive in charge of the survey. A reading above 50 signals growth in the industrial sector, which makes up about a sixth of the U.S. economy and has been hardest hit by the recession and meager recovery of the past few years. It was the latest in a series of reports pointing to continued strong growth in the world's largest economy during the fourth quarter, after a blockbuster expansion between July and September. ``It looks like we're beginning to see the manufacturing sector make up a lot of lost ground,'' said Gary Thayer, chief economist at A.G. Edwards & Sons, in St. Louis, Missouri. U.S. stocks rallied as investors were heartened by the jump in new orders, while bond prices tanked. A harbinger of future growth, orders sky-rocketed to 73.7 from 64.3 while the employment index climbed to 51.0 from 47.7. The job market has been this economic recovery's Achilles heel, so analysts found it encouraging to hear the ISM argue that a 37-month string of job losses in manufacturing ended in November. The ISM report noted that factory exports had gotten a boost from a weakening U.S. dollar. news.moneycentral.msn.com