March ISM = 59.6, Best Since 2004

More good news for the economy. The Institute for Supply Management released its index this morning and the reading was 59.6. This was better than economists’ expectations. It’s also the best number in close to six years. Last month’s ISM was 56.5.
As I explained recently, the ISM is one of the best indicators of how well the economy is doing. Anytime the ISM is 44 or less, it’s almost certain that we’re in a recession.
Now the problem is jobs and that report comes out tomorrow. Goldman just lowered its NFP estimates from 275,000 to 200,000. I’ll be happy with any positive number.

Posted by on April 1st, 2010 at 10:02 am


The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.