Comparing Economies: Two Respected Measures Put Bush 43’s at or Near the Top
Tom Blumer wrote this piece for News Busters..
Today’s release of the Institute for Supply Management’s Non-Manufacturing Activity Report, which measures business conditions in the 86% of the economy other than manufacturing, came in with a reading of 60.7, after recording a 59.7 last month.ÂAs has been customary, the report whipped the pants off of “expectations.” This Thomson Financial article at Forbes predicted a decline to 58.1 instead of the full-point increase that occurred, as did this AFX piece.
This was the 51st consecutive reported month of expansion for the Non-Manufacturing Index (any reading above 50 indicates expansion). It comes on the heels of Monday’s ISM Manufacturing Report, which came in at 56, marking the 47th month of expansion in that index in the past 49 months.
So 14% of the economy is expanding nicely, while the other 86% can fairly be said to be nearly booming. Who knew?
(The rest of the post has the detail, including an era-by-era chart.)
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July 9, 2007 - 05:12 PM on July 9th, 2007
This cannot be true!!!
We have been told for years now that Bush has wrecked the economy! Klinton increased taxes and presided over a boom, so the answer must be more taxes! We’ll tax our way to prosperity!
The Klinton years were wonderful, the closest we have ever been to Nirvana, we have been told! There was peace, the economy was never better, oil prices were low! (Never mind that Klinton went into Bosnia where there were no U.S. interests and had a little war, ignored Islamofascism, and was the beneficiary of abundant cheap oil courtesy of Bush I).
Pay no attention to that man behind the curtain! Emperor Klinton had clothes! Listen to the MSM! They speak only truth!