Posted on 03/02/2005 6:50:16 AM PST by 1rudeboy
NEW YORK, March 2 (newratings.com) – US industrial production increased for the 21st consecutive month in February this year, but the output growth rate declined for the third consecutive month, the latest Institute for Supply Management (ISM) report said.
According to a report published on Tuesday, the ISM index of national manufacturing activity declined to 55.3 in February this year, from a reading of 56.4 in the previous month. Economists had been forecasting an increase in the index to 57.0, on average, in February. The closely monitored ISM index, which is compiled from monthly surveys of purchasing managers at more than 400 manufacturing firms, has declined for four consecutive months and has reached its lowest level since September 2003. The ISM report said that while the overall rate of growth has been slowing, the overall picture is improving with the easing of concerns related to price hikes and shortfalls. The ISM index reading of at least 50 indicates growth in the US manufacturing sector and the index has remained above the 50 mark for 21 consecutive months. The ISM report said that February was another good month for the US manufacturing sector, with 13 out of 20 manufacturing sectors surveyed reporting growth.
shhhh. Don't tell Willie Green.
A decline in the rate of growth should not be discussed as if it were an absolute decline and, therefore, a sign that we are doomed.
You would not believe how many folks on this website fall for that trick.
bttt
9:59 Greenspan: Medicare more a problem than Social Security
9:59 Greenspan: higher taxes not a solution to deficit
9:59 Greenspan repeats support for private savings accounts
9:59 Greenspan: Social Security changes should come soon
Damn it. It's Bush's fault. Foreigners don't even want to invest here anymore.
10:09 Greenspan says 'major' deficit cutting are necessary
ping
Comments like those from Greenspan, must be like getting stung by bumble bees for the Rat Congressits.
Ok,
So we're increasing at a decreasing rate.
Point is, we're still increasing (or in the case of manufaturing activities) expanding.
As the article points out, as long as the figure is above 50, the Manufacturing sector is expanding.
Yes, continued good numbers there -- and my wild guess looking at the global numbers is that even this slight decrease in the increase is just a blip, and we should see this moving back up, though it may stray down just a bit more for short time.
Don't tell the Democrats. That's the only way they can always wail and lament about how the Republicans are "cutting Grandma's Social[ist] Security"! ;-)
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