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Strategies & Market Trends : MDA - Market Direction Analysis

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Nov 14 4:00 PM EST

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To: pater tenebrarum who wrote (18916)	6/30/1999 11:07:00 AM
From: Michael Watkins	Read Replies (2) of 99985

Chicago Purchasing Managers' Index number out - printed at 60, a big surge and the highest level since mid 97. The national PMI comes out on Thursday. If the number is similar, all thoughts will be on .50 point fed rate increase, or .75, not .25. EDIT: Someone called me with the number but trying to obtain confirmation online. Just heard CNBC discussing it and they were showing different numbers although comments were along the lines of 'traders will be concerned about the surge in prices paid'. Some words on te PMI napm.org A PMI reading above 50% indicates that the manufacturing economy is generally expanding; below 50%, that it is generally declining. A PMI over 43.5%, over a period of time, indicates that the overall economy, or Gross Domestic Product (GDP) is generally expanding, below 43.5%, that it is generally declining. The distance from 50% or 44.5% is indicative of the strength of the expansion or decline. With some of the indicators within this report, NAPM has indicated the departure point between expansion and decline of comparable government series, as determined by regression analyses.

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