Recession At An End?
June 2 (Bloomberg) — The U.S. recession that began in December 2007 may have ended in May, said John Ryding, using the Institute for Supply Management’s factory index as a guide. Readings greater than 41.2 on a sustained basis are usually consistent with economic expansions, according to the Tempe, Arizona-based purchasers’ group. The CHART OF…
June 2 (Bloomberg) — The U.S. recession that began in December 2007 may have ended in May, said John Ryding, using the Institute for Supply Management’s factory index as a guide.
Readings greater than 41.2 on a sustained basis are usually
consistent with economic expansions, according to the Tempe, Arizona-based purchasers’ group. The CHART OF THE DAY shows
May’s reading of 42.8 surpassing the horizontal red line at the 41.2 mark. The vertical lines show the end of previous recessions and beginning of expansions.
The ISM gauge “is the greenest shoot yet in the recession-
drawing-to-a-close thesis,†Ryding, chief economist at RDQ
Economics LLC in New York, said in a note to clients yesterday.
“The ISM report is a very important indicator of the cyclical
state of the economy and it tentatively suggests that May is a
plausible candidate for the recession trough.â€
What’s more, two of the most forward-looking components of
the ISM index are also flashing recovery, Ryding said. The
orders index climbed to 51.1, above the 50 breakeven level for
the first time since the month before the recession started. In
addition, the measure of supplier deliveries, a component of the
Conference Board’s index of leading economic indicators, gained
almost five points.
“walk around lower manhattan, below 14th… it looks like a ghost town in the day, only enlivening at night when the wealthy come down to party”
Yes, everyone has moved to Williamsburg. Have you been there recently?
“A similar pattern happened at the beginning of the Great Depression” Not sure why so many people cling to this analogy when everything was different back then.”
Oh I’m just throwing that out there as an example of what has happened in the past. Not saying we’re doomed to repeat it.
“‘A similar pattern happened at the beginning of the Great Depression’ Not sure why so many people cling to this analogy when everything was different back then.”
Different. The single most dangerous word in asset bubbles. This is why time after time we get head faked into falling for more bubbles and losing our shirts.
“do you know a forclosed home purchased for a few thousand dollars is considered a sale”
ROTFLMMFAO!
You’re outnumbered, DIBS. Denton is hanging on your nutsack so he(she?) doesn’t get counted.
***Bid half off peak comps***
“The move in the market over the past three weeks has paid for my facade work four-fold. PULL YOUR HEAD OUT OF THE SAND.”
Mental illness. PULL YOUR ASS OUT OF BED-STUY.
***Bid half off peak comps***
walk around lower manhattan, below 14th… it looks like a ghost town in the day, only enlivening at night when the wealthy come down to party
Oh home sales are up but that does not say home prices are up. do you know a forclosed home purchased for a few thousand dollars is considered a sale. So let them go up but at forclosed prices.
Funny, I was in Union Square today, the restaurants were PACKED.
I’m w DIBS, the worst is over. Ignore that at your peril. Also note existing home sales today.
I think if we were to poll everyone here, hannible, you’d get the fool award. If you think I can keep home prices inflated you’re worse than a fool.
I’ll believe in what Bernie Maddoff says before I believe anything dave says. Dave… has an agenda for trying to keep home prices inflated because he doesn’t want to lose on his purchase a be considered a fool.