August Chicago purchasing managers index

www.enterpriseeconomy.com ^ | 09-04-02 | brian wesbury

[john bell hood]

The Chicago report suggests that the August ISM Index, due to be released next Tuesday, will confirm that the weakness in July manufacturing data was just a typical pause in an otherwise recovering manufacturing sector. Consistent strength in both the Chicago PMI and the national ISM reports in the past seven months suggest that the trend is definitively up, signaling that further Fed rate cuts are unwarranted and the next move in the Federal funds rate should be up.

Excerpt. Rest of article.

[john bell hood]

I'm not convinced the economy is yet strong enough for the Fed to start raising rates. But the fact that Midwestern manufacturing is growing is definitely good news.

[Lee_Atwater]

I thought Brian was on vacation this week. Good to hear from him regardless.

I suppose the manufacturing numbers would be flat in the summer. I believe many plants have a week of maintainance shutdowns during the summer.

[babble-on]

you still shootin' laudanum? and how the hell did you sleep through the whole Union army swinging past you at Spring Hill?

[j.havenfarm]

Hee hee hee.

[john bell hood]

I think your first question answered your second.

[babble-on]

that's a good point! by the way, back on the economy, the employment report today was not bad. Service sector employment is up. wonder what that is all about.