Leonidas
Thinks s/he gets paid by the post
The Institute for Supply Management released its July report for manufacturing (the non-manufacturing report comes out a few days later):
The July PMI indicates that both the overall economy and the manufacturing sector are growing. "The past relationship between the PMI and the overall economy indicates that the average PMI for January through July (55.3 percent) corresponds to a 4.6 percent increase in real gross domestic product (GDP). In addition, if the PMI for July (54.7 percent) is annualized, it corresponds to a 4.4 percent increase in real GDP annually."
The July PMI indicates that both the overall economy and the manufacturing sector are growing. "The past relationship between the PMI and the overall economy indicates that the average PMI for January through July (55.3 percent) corresponds to a 4.6 percent increase in real gross domestic product (GDP). In addition, if the PMI for July (54.7 percent) is annualized, it corresponds to a 4.4 percent increase in real GDP annually."
