The Fed has apparently ignored recent jumps in the ISM Mfg Index, ISM Non-Mfg Index (service sector), retail sales, durable goods orders, and the like, which indicated even the point in the recovery may be near where the employment situation improves.
FORBES: Roll Out The Bubbles, We'll Have A Barrel Of Fun (For A While)
Among reports of recent weeks that came in better than forecasts were consumer sentiment, retail sales, home sales, construction spending, auto sales, factory orders, the ISM Mfg Index, the ISM Non-Mfg (service sector) Index, and so on.
The merry month of May was anything but, with its reports of deteriorating conditions in April that were much worse than forecasts, as measured by the ISM Mfg Index, the ISM Non-Mfg Index, Factory Activity, and Industrial Production.
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The Chicago PMI will be released on Tuesday, the ISM Mfg Index on Wednesday, and the ISM non-mfg Index (services sector) on Friday.
FORBES: Next Week's Economic Reports Weight Heavily In Stock Market Direction
The ISM Non-Mfg Index (service sector) plunged from 57.2 in February to 53.3 in March.
The ISM Non-Mfg Index, covering the services sector, also declined in March.
This week it was reported that the ISM Non-Mfg Index, which tracks the service sector of the economy, plunged to 52.8 in April from 57.3 in March (versus the consensus estimate of economists that it would improve to 57.8).
Additionally, they are taking advantage of web-based tools like MFG.com (factory in the cloud) and the digitalization in manufacturing, which makes it easy to discover and do business with suppliers that are uniquely prepared at the right moment in time.
On the economic fundamentals, another bailout of Greece, and a one-month bump in the ISM Mfg Index are hardly an indication that the economic slowdown has ended, given the continuing dismal reports on consumer spending, consumer and business confidence, the depressed housing industry, and the jobs picture.
And on the fundamentals, another bailout of Greece, and a minor one-month bump in the ISM Mfg Index were hardly indications the global economic slowdown has ended, not given the continuing dismal reports on consumer spending, consumer and business confidence, the depressed housing industry, and the jobs picture.
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