Monday, November 2, 2009
The employment subindex of the ISM manufacturing survey jumped rather dramatically in October. I see this as comparable to the very strong recovery the economy staged in the second half of 2003. The reading of 53.1 on the survey points to net new jobs in the manufacturing sector. Maybe not a lot of new jobs, but conditions have certainly improved dramatically on the margin in recent months.
Posted by Scott Grannis at 9:31 AM