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Manufacturing At 2 1/2-Yr Low
1The Institute of Supply Management manufacturing index unexpectedly fell to 45.4 in April from 46.2 the previous month. Analysts had forecast a small rise, but still below the boom-bust 50 level. New orders also hit an 18-month low. ISM also said business confidence remains poor amid soft demand. More on this page
Jobless Numbers Still Not Pretty
2New claims fell to 448,000 in the week ended April 26 from the prior week's 1-year high of 461,000. Economists expected a bigger decline. The four-week average hit a 1-year high. Continuing claims jumped 110,000 to 3.68 mil, a 10-month high. Economists predict more losses in today's April employment report. More on this page, A2
Auto Sales Don't Meet Forecasts
3GM, Ford and Chrysler reported lower sales than a year ago. Analysts noted better results for the Japanese. GM's fell 9%, Ford's 6.7% and Chrysler's 10%. Among foreign carmakers, Toyota's fell 1% and Nissan's 4.2%, while Honda's rose 11.2%. Reuters estimated sales at a yearly rate of 16.4 mil, down from 17.2 mil a year ago, 16.2 mil for March and Wall St. views of 16.7 mil.
USA Interactive Tops Q1 Forecast