September's ISM Manufacturing Index "Screams Recession," Economists Say
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Economists say the details of the ISM manufacturing report in September were just as bad as the headline would suggest, as all major components contributed to pull the index down to its lowest level since October 2001.
Strategists at RDQ Economics said the release "screams that the economy is in recession," confirming what the weekly jobless claims survey has been reporting for several weeks now.
The U.S. manufacturing sector plummeted below market expectations in September, as a 6.4-point drop in the headline was the sharpest monthly decline since 1984.
--MORE--
Mortgage Apps Plummet in Latest Week
Economists say the details of the ISM manufacturing report in September were just as bad as the headline would suggest, as all major components contributed to pull the index down to its lowest level since October 2001.
Strategists at RDQ Economics said the release "screams that the economy is in recession," confirming what the weekly jobless claims survey has been reporting for several weeks now.
The U.S. manufacturing sector plummeted below market expectations in September, as a 6.4-point drop in the headline was the sharpest monthly decline since 1984.
--MORE--