Wikinvest Wire

ISM Manufacturing Index rebounds!

Tuesday, April 01, 2008

The Institute for Supply Management reported a rebound in manufacturing activity during the month of March, though the industry continues to contract.
The nation's broadest measure of the health of the manufacturing sector rose from 48.3 in February to 48.6 in March. Recall that a reading above 50 indicates that the manufacturing economy is generally expanding and below 50 indicates that it is generally contracting.

Supplier deliveries rose from 50.1 to 53. 6 and employment improved slightly from 46.0 to 49.2 but prices posted the biggest increase, from 75.5 to 83.5 reflecting a surge in commodity prices during the reporting period.

New orders, the best predictor of economic growth in the near-term, led the declining categories falling from 49.1 in February to 46.5 in March.

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fat_tail_rider said...

Yep. And the other piece of killer good news was Lehman Brothers being able to float $4 billion - capital it desperately needs - to yield-starved investors.

Meanwhile, back in the real economy, construction continued to cool and car sales fell off a cliff.

Today was yet another proof of Keynes' sage observation that markets can remain irrational longer than you can remain solven.

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