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Stocks extend losses as Chicago PMI dissappoints many who were counting on over 50.0



August 31, 2009 – Comments (1)

50 maintains manufacturing did not deteriote further but stocks have priced in a rise in manufacturing. Thus you have further weakness in stocks.

August Chicago PMI 50.0 vs 48.0 consensus, prior 43.4 -Update

1 Comments – Post Your Own

#1) On August 31, 2009 at 10:44 AM, rofgile (99.29) wrote:

50 is good, IBD.

 It has continued a nice trend towards the end of recession in manufacturing/production, with the next datapoint (September) equaling growth.  I believe the "good news economist" had a really nice extrapolation of the manufacturing index back in March or April, quite close to what we have now.  CAPS was quite unfriendly to his predictions back then (and still somehow seems to support Alstrynomics now)...

 I've been predicting Q3 and Q4 for expansion and growth for months now.


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