The center's

quarterly consumer confidence survey topped 100 for the first time since

the last three months of 2000. The index peaked at 119 points during January-March

of 2000 and steadily declined to 88 by the end of 2001, in the midst of

the recession.

Nationally,

a similar survey by the University of Michigan showed slightly less enthusiasm

this month. But the score of 96 is the nation's highest level in six calendar

quarters.

Also, Kennesaw's

monthly purchasing managers index registered a 51, a huge improvement

from the 28 reading in November.

Generally a

reading of 45 or higher indicates growth in the manufacturing sector and

readings above 50 point to expansion across the general economy.

"This

recent reading on consumer sentiment is consistent with the Econometric

Center's forecast that economy activity troughed early this year and that

the economy began to expand at a modest pace over the past few months,"

said Roger Tutterow, director of the center.

"Even

as the recovery evolves, economic growth will likely remain at a lower

rate than seen in 1997-99 dues to softness in capital spending."

Indeed, consumers

surveyed said they still weren't rushing to buy big-ticket items at the

same pace as two or three years ago. And the factory purchasing executives

aren't reporting vigorous enough activity yet to warrant major capital

investments in production expansion.

However, another

piece of good news from the manufacturing survey is evidence of rising

factory hiring. Forty percent of the executives surveyed reported increased

employment.

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