Posted on 08/02/2005 7:58:12 AM PDT by CAWats
After last week's strong durable goods and Midwest manufacturing reports, the ISM confirmed a brighter outlook for factories — and economic growth overall.
"The latest few reports suggest that the industrial side of the economy is reaccelerating," said Manufacturers Alliance Chief Economist Daniel Meckstroth.
The ISM's new orders index rose 3.4 points to 60.6, also a 2005 high. The production subindex shot up 5.6 points to 61.2, the highest since September.
Manufacturers have worked down inventories and are pumping up production to meet continued strong consumer demand.
(Excerpt) Read more at investors.com ...
DU and Willie are deeply sadden by this news....
Bush's fault!
"We're doomed!"
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