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To: Jerry Olson who wrote (19760)	9/1/1998 12:47:00 PM
From: Lee	Read Replies (2) \| Respond to of 50167

Jerry,..Re:Declining foreign orders hit August U.S. NAPM Hi Jerry. The headline is illustrative of the problem we have with the media in this country. Manufacturing has been slowing for awhile now and actually has turned up in the latest report yet the media, in trying to sell copy and dramatize numbers in a volatile situation, makes it sound like we just got a big hit from this metric. Attached is the official NAPM along with some graphs from The Dismal Scientist which put things more in perspective. napm.org Economic activity in the manufacturing sector continued to slow in August when compared to July. The overall economy continued to grow in August for the 88th consecutive month say the nation's purchasing executives in the latest Manufacturing NAPM Report On Business. dismal.com NAPM - 1 year dismal.com Analysis dismal.com Construction Spending dismal.com Construction spending analysis Hope this helps to view the data more objectively. Best, Lee