The chairman of Evans Economics, an econometrics advisory company in Washington, provides a basic education for a relatively aggressive approach to investing, one that, with diligence, can pay off.

"Obviously, the figures are not as bad as they seem at face value," said Michael K. Evans of Evans Economics in Washington.

"Manufacturing is coming back," said Tom Megan, an economist with Evans Economics in Washington.

'There Really Is No Chance' "Nobody believes that forecast, not even the guys who wrote it," said Michael Evans, president of Evans Economics.

Jean Sundrla, an economist with Evans Economics, a forecasting group in Washington, said the weak orders could signal lower investment spending by big companies.

"The fact that inventories were well under control means there won't be a cutback this quarter," said Michael Evans, head of Evans Economics, a Washington economic forecasting firm.

Tom Megan, an economist with Evans Economics, a Washington forecasting company, said he was not concerned by the April sales dip.

Those gains are "consistent with the idea of a weak recovery," said Jean Sundrla, an economist at Evans Economics in Washington.

But analysts such as those at Evans Economics were quick to say that "the economy is not out of the woods yet."

Michael K. Evans of Evans Economics, a Washington consulting firm, said, "It's a pretty weak report.