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THE ECONOMY.(TO THE POINT)

Investor's Business Daily

| February 02, 2005 | COPYRIGHT 2005 Investor's Business Daily, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

Rate hike likely at FOMC meeting

A quarter-point hike to 2.5% for the federal funds rate is widely expected as the Fed finishes its 2-day meeting. It would be the sixth straight quarter-point hike at a Fed meeting. Analysts also don't see the Fed changing its language regarding future monetary policy, instead sticking with plans for "measured" moves to stem inflation.

** U.S. chain store sales rose a modest 2.4% from a year ago for the week of Jan. 29, according to Redbook Research's index of major retailers' same-store sales. They rose 0.9% vs. Dec.

Weaker euro helps EU factories

Reuters' Eurozone Purchasing Managers Index rose to 51.9 in Jan. from 51.4 in Dec. Germany and Italy posted the biggest gains. The euro's 4.6% decline vs. the dollar in the past month helped, as did a 12% drop in oil prices since an Oct. high. German consumer confidence bodes well for domestic spending as well. New orders hit highs not seen since Sept. as the input prices index was the lowest since Aug.

** German machinery orders fell ...

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