Employment not growing in manufacturing


The latest data from the purchasing managers (ISM) shows the employment index declining - again.

The index fell to 48.3. This level suggests employment in manufacturing is declining. Employment rises when the index is above 50.

Does it matter? It matters because it suggests the important manufacturing sector is not strong or strengthening. It is actually weakening.

This trend may have an important impact on commodities, earnings, and interest rates.

Stay tuned.

More details on how these ideas apply to portfolio management are found in The Peter Dag Portfolio on www.peterdag.com
George Dagnino, PhD
The Peter Dag Portfolio
Since 1977
Author, Profiting in Bull and Bear Markets
No. 1 bond timer in the past 12 months. 

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