Saturday, April 04, 2009
Latest: Economy downshifts, again
The Institute of Supply Management numbers released yesterday suggest no end in sight for the nation's economic contraction, as evidenced by non-manufacturing indicators. Memphis Daily News summary here. ISM release here and survey background here. Next report is due out May 5. In its briefs, the WSJ says the "cycle of deleveraging" isn't over year, but Manufacturing's decline is slowing. Meanwhile, Obama recovery team member and prominent economist Martin Feldstein reportedly said in China that the stimulus package isn't enough to interrupt our slide. Finally, Belmont's Jeff Cornwall sees 'glimmer of hope' in NFIB survey results.