10 Jan 2003 Market Generally Strong Amid Mixed News
Posted at 16:21h in The Friday BriefWe began the week with some surprisingly strong economic news. As reported by the Institute for Supply Management,U.S.manufacturing increased in December by the largest amount since the last recovery from recession in June of 1991. Manufacturing contributes about 15% to the nations’ economy. Manufacturing and business in general have been slow to recover in this latest economic slowdown, but this latest ISM report showed much more strength than expected by economists. Some economists are now raising their growth target for the economy from 1.5% in the first quarter to 2.5%, while others say the report probably overstates the amount of improvement.