The Feasinomics®, Inc. Report

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Purchasing Managers

Index

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The

Institute for Supply Management reported that economic activity

in the manufacturing sector failed to grow in April for the

second consecutive month. The closely watched PMI declined

to 45.4 percent in April. An index above 50 signifies growth

in manufacturing while a figure below that shows contraction.

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Construction Spending

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Construction

spending in March was estimated at a seasonally adjusted

annual rate of $868.5 billion,1.0 percent below the revised

February estimate of $877.4 billion, according to the U.S.

Commerce Department's Census Bureau. The March figure is

1.6 percent above March 2002. During the first three months

of this year $181.6 billion of construction was put in place,

which is 1.4 percent above the $179.1 billion for the same

period in 2002.

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Unemployment Rate

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The

nation's unemployment rate increased to 6.0 percent in April,

up from 5.8 percent in March. In April, job losses continued

in manufacturing, some travel-related industries, and department

stores.

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Factory Orders

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New

orders for manufactured goods in March increased $7.2 billion

or 2.2 percent, the highest level since May 2001. This followed

a 1.0 percent February decrease. Year to date, new orders

for 2003 were 3.6 percent above the same period a year ago.