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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: Jim McMannis who wrote (14547)	11/1/2004 10:27:10 PM
From: mishedlo	Respond to of 116555

Purchasing Managers’ Index Signals Shift to Slower Economic Growth ...... On the inflation front, the personal consumption expenditure deflator excluding food and energy (The FOMC’s preferred measure of inflation.) rose 1.5% on a year-to-year basis in September, slightly higher than the 1.4% gain of August. On a quarterly basis, this preferred measure advanced at an annual rate of only 0.7% in the third quarter, the smallest increase since the early 1960s. The favorable inflation situation gives the FOMC room to consider pausing before taking further action in December. northerntrust.com