Friday, December 01, 2006
BULLETIN: ISM Manufacturing Index Turns Negative
It fell below 50 for the first time in 41 months, and the employment indicator turned negative as well. The Fed has overtightened, and we may get a rate decrease in the first quarter rather than the second quarter of 2007 if more negative months are reported. The ISM non-manufacturing is reported on Tuesday, all of this just in time for the webinar on Wednesday.
If you have not signed up, do so at http://members.whattheythink.com/home/webinarregistrationform2.cfm Needless to say, my next few days updating economic forecasts will be .... interesting....