Tag Archive for Purchasing Managers

Misery builds for the euro zone | Reuters

via Misery builds for the euro zone | Reuters. The euro zone economy worsened markedly in April, according to business surveys that clashed with the prospect of a gradual recovery augured by European Central Bank President Mario Draghi this week. Friday’s purchasing managers indexes (PMIs), primarily covering services, suggested a recession across Europe’s currency union could…

Don’t Fight the ISM?

I just love correlation charts. Unlike the useless, biased spin fed to us from Wall Street’s market strategoists and egonomists, the charts are just the facts, M’am, just the facts, and you can see them for yourselves. I ran these ISM charts back to 1948 when the ISM, formerly the NAPalM, began this survey. Historically,…

More Little Lies and Big Spin- Gains or Blips?

The FIM (Financial Infomercial Media) has gifted us with more nonsense today in the form of Pending Homes Sales data from the NAR (Realtors) and the Purchasing Managers Manufacturing Index from the ISM (Purchasing Managers). Bloomberg was positively ecstatic about the housing data, proclaiming “The number of contracts to buy previously owned homes rose more…