Services Index Tumbles in June

[MissMillie]

http://www.boston.com/business/markets/articles/2004/07/07/services_index_tumbles_in_june/

(snip)

The services report follows figures last week that showed job gains and auto sales were less than expected in June. The index still has been above 50, showing expansion, for 15 straight months, and Moran said he considers the report's separate indicators of higher orders and employment to be "encouraging."

US employers revealed plans in June to cut 64,343 jobs, a 7.8 percent increase from the year-earlier month, a private survey by Chicago placement firm Challenger, Gray & Christmas Inc. said yesterday. While cuts were down 12 percent from May, it's difficult to compare consecutive months because the data are not seasonally adjusted.

(snip)

Just who is this economic growth helping?



Interestingly enough, the same paper on the same day has analysts predicting "Economy Heading for Fast Growth".

[dirtdart]

1. Odd how the media can contridict itself so well.

Manufacturing Activity Index Sets Third Consecutive Record

Data show 'real and robust' recovery, says Manufacturers Alliance.

By John S. McClenahen

In contrast to last week's data from the Institute for Supply Management, which showed the heady pace of U.S. manufacturing's recovery from the 2001 recession slowing a bit in June, the latest composite index of future business activity compiled by the Manufacturers Alliance/MAPI is at a record level.

The Arlington, Va.-based alliance's June quarterly figure stands at 80, the highest figure in the index's 32-year history and the third consecutive quarterly record number. It indicates that U.S. manufacturing output is expected to increase during the next three to six months. The previous record was March's figure of 78.

"The rise in this index, along with the strength shown by all the individual indexes , indicates that the expansion of manufacturing activity is real and robust," says Donald A. Norman, the economist who oversees the business and public policy research group's outlook survey and prepares the quarterly report. Norman, however, cautions that the alliance's composite index measures direction of change, rather than the absolute strength, of manufacturing activity.

http://www.industryweek.com/CurrentArticles/Asp/articles.asp?ArticleId=1647

[Kathy in Cambridge]

2. You've posted this twice-is this the latest Rushbot Talking Point?

:eyes: