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.
Monday, December 1, 2008
Manufacturing hits an air pocket
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.
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