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To: Amots who wrote (7328)	10/1/1998 7:37:00 AM
From: Joseph G.	Respond to of 86076

<<FRANKFURT, Oct 1 (Reuters) - Growth in German manufacturing slowed in September for the third month in a row as foreign orders fell amid financial crises in Russia and Asia, the BME/Reuters Purchasing Managers' Index showed on Thursday. Strong domestic demand kept manufacturing growth intact but the PMI index slipped to a seasonally-adjusted 51.48 in September from 54.62 in August reaching its lowest level since October 1996, said research firm NTC Publications, which compiles the PMI survey. "Buoyant domestic demand helped sustain modest total order book growth, but declining export orders contributed to the weakest rate of overall growth since June 1996," NTC said. It said export orders, which have been under growing pressure from emerging markets turmoil, fell in September for the first time in more than two years as exporters began feeling the bite of the deepening Russian crisis. "The first contraction of overseas demand for over two years was widely attributed to the damaging effect of the recent Russian financial crisis on orders from both Russian and east-European markets," NTC said. "In addition panel member firms continued to report that orders were being lost in east Asian markets as a result of the long-running financial crises in that region," it added. The export orders index fell to 48.89 in September from 54.09 in August.>>