U.S. ISM factory index plunges again in October

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krogoth's picture
krogoth
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Joined: Aug 18 2008
Posts: 576
U.S. ISM factory index plunges again in October
WASHINGTON (MarketWatch) - The nation's manufacturers continued to cut back production sharply in October for the second straight month, the Institute for Supply Management reported Monday. The ISM index fell to 38.9% in October from 43.5% in September. This is the lowest level since September 1982. The size of the decline was unexpected. The consensus forecast of estimates collected by Marketwatch was for the index to fall to 41.5% as all regional manufacturing surveys were weak in October. Both new orders and production fell to their lowest level since the early 1980s. Readings below 50 indicate contraction. The ISM index had plunged in September to recession territory of 43.5% from 49.9% in August.
Ray Hewitt's picture
Ray Hewitt
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Joined: Apr 5 2008
Posts: 458
Re: U.S. ISM factory index plunges again in October

We often see headlines like this trying to make the best of a bad situation.

Construction spending falls less than expected

By what measure does "expected" mean anything? It proves that statistical models have little value for prediction.

rlee's picture
rlee
Status: Silver Member (Offline)
Joined: Sep 18 2008
Posts: 148
Re: U.S. ISM factory index plunges again in October

But wait!  There is good news in the manufacturing industry:

WASHINGTON, Oct. 27 (UPI) -- Experts say U.S. economic conditions and the presidential election are partly responsible for an increase in the sale of guns and ammunition this year.

 

Data supplied by federal and state government show sales of firearms up 8 to 10 percent in 2008, continuing a trend that began in 2006, The Washington Post reported Monday.

The newspaper said interviews with dozens of gun dealers and buyers in Virginia and Maryland indicate the hike in sales appears to be driven predominantly by concerns about the election and the economy.

"Generally, we know that hard economic times always result in firearm sales," James Purtillo of Silver Spring, Md., publisher of Tripwire Newsletter, told the Post.

 

 

krogoth's picture
krogoth
Status: Platinum Member (Offline)
Joined: Aug 18 2008
Posts: 576
That's why I post this and other possible propaganda

That's why I posted it. I want you pro's and smart people to dissect it and tell me the truth, because some of this crap I don't understand.

 

 

 

 

 

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