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To: IceShark who wrote (7331)	10/1/1998 7:29:00 AM
From: Joseph G.	Respond to of 86076

Pass the ammunition ...

To: IceShark who wrote (7331)	10/1/1998 7:39:00 AM
From: Joseph G.	Read Replies (1) \| Respond to of 86076

<<LONDON, Oct 1 (Reuters) - Britain's manufacturing sector shrank for the sixth month running in September, but at a slower pace than in August, the Chartered Institute of Purchasing and Supply said on Thursday. The survey, sponsored by Reuters, said a further significant downturn in orders was behind the contraction, with the strength of sterling once again the main cause of lost business. The CIPS Purchasing Managers Index rose to 46.4 in September from 45.3 in August. A reading above 50 suggests expansion, below 50 contraction. The CIPS said as well as losing competitiveness in the face of a strong pound, firms had reported falling demand from the Far East thanks to the on-going financial crisis. "Further pressure on export order books was reported to have arisen from the financial problems in Russia," said the survey. "As a result, export orders fell for the ninth consecutive month, with the rate of contraction gathering pace." The export orders index fell to 38.6 in September, the lowest level in the history of the survey. The CIPS said domestic new orders also continued to contract due to inflows of cheaper imports plus deteriorating business and consumer confidence.>>