[Grampa Dave]

Bush's fault again!

[Grampa Dave]

9:53am 07/01/05
U.S. consumer sentiment improves in late June By Rex Nutting


WASHINGTON (MarketWatch) -- U.S. consumer sentiment improved in late June, according to media reports of proprietary research at the University of Michigan. The UMich consumer sentiment index rose to 96.0 from 94.8 in early June and 86.9 in May. It's the highest since December. Economists were expecting the index to slip to 94.5. The current conditions index rose to 113.2 from 110.4 in early June and 104.9 in May. It's the highest since November 2000. The expectations index rose 85.0 from 84.8 in early June and 75.3 in May. It's the highest since January.

[Grampa Dave]

10:07am 07/01/05
U.S. ISM index rises to 53.8%, while prices moderate By Rex Nutting
WASHINGTON (MarketWatch) -- The U.S. manufacturing grew at a faster pace in June while price pressures eased, the Institute for Supply Management said Friday. The ISM index rose to 53.8% in June from 51.4% in May. Prices paid fell to 50.5% from 58.0% in May, the lowest since February 2002. The new orders, production and employment indexes all improved from May levels. Economists were expecting the main index to rise to 51.5%. Readings over 50% indicate expansion. The ISM has been above 50% for 25 straight months. "We may be through the 'soft patch' that many observers touted," said Norbert J. Ore of the ISM.

[raybbr]

The reading reflects an increased rate of growth in new orders, and a slowing rise in prices paid by manufacturers for raw materials. At the same time, high energy costs and a strong dollar continue to weigh on the sector, ISM said.

Notice the glaring lack of reference to job growth in those sectors?

[Willie Green]

The Institute for Supply Management index is misleading.

It erroneously claims full credit for finished goods while ignoring the disproportionately large proportion of foreign content used to make those goods.

[Toddsterpatriot]

Come watch Willie and raybbr explain why good news is still bad news.

[Fitzcarraldo]

Then again, how many of these jobs are performed by illegals...?

[Mase]

The reading reflects an increased rate of growth in new orders, and a slowing rise in prices paid by manufacturers for raw materials. At the same time, high energy costs and a strong dollar continue to weigh on the sector, ISM said.

The economy continues to expand, employment is growing, real wages have risen for more than 10 years now and inflation is tame.

We'll just have to continue waiting for that pesky trade deficit to kill our economy. What I don't understand is how the dollar can be considered strong now when the gloomers tell us we're debauching our currency and it will lead to economic ruin. Who's right?

[Toddsterpatriot]

The U.S. manufacturing sector expanded at a faster-than-expected pace in June, as new orders to factories picked up, a private research group reported Friday. Activity at the nation's factories increased for a 25th consecutive month, according to figures from the Institute for Supply Management.

Sorry, more good news!!!

[stinkerpot65]

That cheap dollar is finally kicking in.

[Diana in Wisconsin]

Man, this economy just sucks! I have to work at Walgreens and clean toilets for old people...

Oh, wait! I was accidentally channeling the troll that got zotted earlier. Pardon me! ;)

[Jorge]

Don't tell Willie Brown!

[Walkin Man]

The U.S. manufacturing sector expanded at faster-than-expected pace in June, as new orders to factories picked up, a private research group reported Friday.

So I suppose the oil speculators will use this news as a reason to drive up the cost of oil even further, eh?