Well, can't say I didn't tell you so. The ISM manufacturing index came in this morning at 50.2, below the consensus forecast of 50.4 and continuing a rather distinct downward direction. Couple that with the foreign trade numbers out earlier this week and the GDPNow Q3 "growth" forecast took a rather noticeable turn for the worse, dropping from 1.8% to .9% in one fell swoop. Ouch!
https://www.frbatlanta.org/cqer/research/gdpnow.aspx?panel=1
Markets initially reacted poorly but rebounded at the end closing up modestly. I guess you never know.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment