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To: Chuzzlewit who wrote (56575)	8/6/1998 11:17:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<ot>Worried about a recession in the U.S??? Well get a load of this. Paul: Have you seen this report this morning. Factory orders rise 0.1% in June Manufacturing healthy despite Asia, GM strike By Jeffry Bartash, CBS MarketWatch Last Update: 10:09 AM ET Aug 6, 1998 Also see NewsWatch WASHINGTON (CBS.MW) -- Factory orders for June edged up 0.1 percent, the Commerce Department said Thursday, in line with expectations. It was the third increase in four months, reflecting continued strength in the manufacturing sector despite the drag from the Asian crisis and the strike against General Motors. Excluding the volatile transportation sector, orders jumped 1.1 percent, the biggest rise since last August and reversing a decline of 1.8 percent the previous month. Aircraft orders fell 21.6 percent, while orders for autos sank by about $2 billion, reflecting negative effects of the recently ended two-month strike against GM (GM). Overall, orders for transportation equipment dropped $3 billion, or 7.2 percent, to $39.4 billion. It was the fourth decline in five months. Excluding the volatile defense sector, June orders came in flat. Shipments rose 0.3 percent, the first increase since March. Unfilled orders, an indicator of future demand, fell 0.8 percent, the fourth drop in five months. Inventories increased 0.2 percent. Taken together, the report indicates the the U.S. economy remains on a strong track despite continued economic weakness in Asia. The bond market was expected to shrug off the report, since most of the information had been released last week in the durable-goods orders report. Machine orders rebounded from a 1.7 percent drop in May to surge 1.6 percent in June. Computer orders also came back strong, jumping 7.0 percent from a 2.5 decline the month before. Nondurable goods, such as paper and chemicals, rose 0.3 percent from a decline of 0.8 percent in May.