Yesterday’s ISM Manufacturing data took many market participants by surprise. In today’s screencast we note that maybe this should not have been that big of surprise. Signs that the US manufacturing economy is continuing to expand strikes many as odd given the overall gloom about the US economy. Todd Sullivan at ValuePlays has been consistent in noting the many signs that US economy is not as bad as bears claim it to be. Indeed many economic indicators in August were better than expected. While there are some worrisome signs, for now the bears on the economy have to spend their time explaining away this number.
Posts mentioned in the above screencast:
Pessimism is still rampant. (ValuePlays)
An employment index continues to expand. (Carpe Diem)
Maybe July wasn’t that bad for the economy after all. (Atlantic Business)
Rail traffic continues to expand. (ValuePlays)