Thursday, June 05, 2008
The ISM surveys shows, like many other recent economic reports, showed mixed/stagnant conditions with regard to economic activity. The U.S. economy appears to be contracting, but only very moderately. One indicator that is anything but mixed however is the prices paid indicator. The extremely high value for that number of course indicates very strong inflationary pressures. Barry Ritholz has a very telling graph over this which I recommed you to check out.