Monday, December 1, 2008
The Institute for Supply Management's manufacturing index has fallen sharply in the past two months, and is now suggesting that the economy will contract at a 4% annual rate in the current quarter. That would be only a 1% contraction over the course of three months, however, so it's hardly the end of the world. The economy could easily bounce back from the current panic-induced slump.
Posted by Scott Grannis at 9:38 AM