Posted on 07/06/2009 9:29:18 AM PDT by TexasNative2000
NEW YORK – A trade group's measure of the health of the U.S. services sector contracted less than expected in June, reaching its highest level in nine months.
The Institute for Supply Management on Monday said that its services index read 47 in June, up from 44 in May. Economists polled by Thomson Reuters had expected a reading of 45.5 last month.
Any reading below 50 indicates the services sector is shrinking, and June marked the ninth straight month of deterioration. But it was the best showing since September when the index was at 50.
(Excerpt) Read more at news.yahoo.com ...
spinning economic news at it’s worst. “We are going to hell in a handbasket just a little bit more slowly than we thought we were....yea, Obama!”
The best worst showing ever!!
More “green shoots” sh!t. It’s not happening out here in the real world.
Yeah, and the Titanic’s rate of descent probably slowed before it hit bottom...
Just the Facts:
The Institute for Supply Management on Monday said that its services index read 47 in June...
Any reading below 50 indicates the services sector is shrinking, and June marked the ninth straight month of deterioration.
How can it still be shrinking yet be “reaching its highest level in nine months”?
Like someone else said, “It’s the best worst it’s been”!!!
We’re dying, but more slowly.
When there was good economic news under Bush, it was always "better than expected".
Now that Obama is President, all bad news is "not as bad as expected".
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