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To: Sig who wrote (104848)	2/25/1999 9:42:00 AM
From: Mohan Marette	Read Replies (1) \| Respond to of 176387

<U.S.Economy> Manufacturing Recovery??? YES and that is not an aberration. Sig: Yup looks like the bottom has fallen off don't it???? =========================== Thursday February 25, 9:22 am Eastern Time (Note: this article is ''in progress''; there will likely be an update soon.) Jan US durables surge shows manufacturing recovery By Chris Stetkiewicz NEW YORK, Feb 25 (Reuters) - An unexpected surge in orders for U.S. durable goods in January shows manufacturers are shaking off a global economic slump and could add fuel to an already robust U.S. economy, analysts said. Non-defense durables orders rose a whopping 3.7 percent in January, their best showing since November 1997, following solid gains in December. ''This is a very strong number,'' said Tim O'Neill, chief economist at Bank of Montreal. ''It's consistent with the evidence that has been building that perhaps the worst of the global demand problem is over for manufacturing, at least in the United States.'' U.S. manufacturers of big-ticket items ranging from airplanes to refrigerators have been hit hard by an economic slump that began in Asia in the summer of 1997 and swept around the globe to engulf Russia and Latin America. The surge in durable goods orders, combined with the surprising narrowing of the U.S. trade deficit in December, strongly suggests the world's developing nations are beginning to resume purchases of U.S. exports. ''I don't think it's an aberration,'' said David Rosenberg, senior economist at Nesbitt Burns. ''The trend in manufacturing is starting to turn up. I think it's just going to add further to (gross domestic product) growth going forward.'' The Commerce Department reported the U.S. trade deficit shrank nearly 10 percent to $13.79 billion in December, even though the deficit for the full year 1998 was the largest on record.