![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEg5fo-w8KLSX_rKQaWkwp21O4zfrFK5WrCe_wOzxfnlD-m316BSEqvAKdarWxqyje41K7mdltW41akbs2nfhs0smsoSaiU5qJFtK9sAyDbl42M2qmsWKaq3m0lyv3XzAtPv51gn3Q/s400/090930-ofa.jpg)
Meanwhile, today's release of the PMI index splashed cold water on the administration and the mainstream media (but I repeat myself):
Analysis, Spock?SEPT CHICAGO PURCHASING MANAGERS INDEX: 46.1 V 52E
**sub-indices:
- Prices Paid: 51.3 v 50.0 last
- New Orders: 46.3 v 52.5 last
- Employment: 38.8 v 38.7 last
- Inventories: 38.9 v 27.5 last
- Supplier Deliveries: 49.3 v 54.6 last
- Production: 47.2 v 52.9 last
- Order Backlogs: 36.7 v 45.8 last
Captain, the overall PMI was dramatically worse than expected.
![](https://blogger.googleusercontent.com/img/b/R29vZ2xl/AVvXsEiarPV2fh6DzjnuAk79zl8d7_TNB6hk7P7Ad7gkYaIcsGQaIztMfcADsP5c-9fN9w0krgHL6fNSWLdNgC1XO-ly49ET2mtHuz-UUwFtnadh9QdLoiXaptjHc4NQGRbXPuXNsQt2cg/s400/090926-vote.jpg)
New orders were down: bad.
Employment: flat.
Inventories up: bad.
Supplier deliveries down: bad.
Production down: bad.
Order backlogs down huge: really, really bad.
I guess Obama was right when he said, "We are the change we’ve been looking for."
Hat tip: Market Ticker.
No comments:
Post a Comment