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« Passionate Love | Main | No Panacea » March 11, 2004Leading IndicatorsI'm not an economist, though I sometimes play one in the blogosphere. Still, this chart (below) from UK-based NTC research, comparing the the monthly Purchasing Managers' Index from a variety of countries, seems to indicate th United States manufacturing sector is expanding faster than any other country on the list. According to Investopedia, The PMI - which is compiled each month by the Institute for Supply Management (formerly the National Association of Purchasing Managers) is considered by economists to be the best snapshot of the manufacturing sector. The PMI is a composite index that is based on five major indicators including: new orders, inventory levels, production, supplier deliveries, and the employment environment. Each indicator has a different weight and the data is adjusted for seasonal factors. The Association of Purchasing Managers surveys over 300 purchasing managers nationwide who represent 20 different industries. A PMI index over 50 indicates that manufacturing is expanding while anything below 50 means that the industry is contracting. National Manufacturing PMI summary: February 2004 Posted in Economy & Business
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Got a chart of the contracting economies? At least the Western-type ones? Posted by: JorgXMcKie at March 11, 2004 10:18 AMPost a comment
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