Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Pastimes : Clown-Free Zone... sorry, no clowns allowed -- Ignore unavailable to you. Want to Upgrade?

To: Giordano Bruno who wrote (364069)	3/31/2008 12:39:00 PM
From: ldo79	Read Replies (2) \| Respond to of 436258

now I see why the clownbuck shot up, POG took a hit & the markets rally on - so clear........ Chicago PMI Continues To Show Contraction,Inflation Pressure 03/31 10:38 am By Stephen Wisnefski and Howard Packowitz Of DOW JONES NEWSWIRES CHICAGO -(Dow Jones)- A closely watched indicator of business activity in the Chicago area improved in March from the previous month, but continued to point to a contraction in the economy while inflation pressure remains high. The National Association of Purchasing Management-Chicago said Monday that its business barometer rose to 48.2 from 44.5 in February, when the index hit its lowest level in six years. The March reading came in higher than the 46.3 consensus estimate of economists, though it still showed a contraction in economic activity as it came in below 50. The prices paid category rose to 83.9 in March, from 79.4 a month earlier, indicating that inflation is spreading through the economy at a faster rate, NAPM-Chicago said in a press release. "The three month moving average smoothes month-to-month variations and reveals a broadly contracting economy," NAPM-Chicago said of the overall numbers, adding that "the three-month trend exposed a weakening economy that dropped just below neutral." The Chicago report, commonly referred to as Chicago PMI, comes as investors see mounting evidence of a severe economic slowdown, sparked by a housing slump and tight credit markets. Monday's data are the first of some critical economic reports throughout the week. On Tuesday, the Institute for Supply Management is scheduled to release its index of nationwide manufacturing activity. Thursday, ISM releases its index of service sector activity, while the government issues its monthly employment report on Friday. "We believe (this week's data) should be fairly weak, indicating that activity is contracting and layoffs are mounting," said Sal Guatieri, senior economist for BMOP Capital Markets. In recent sessions, rate futures markets have priced in increased expectations for the Federal Open Market Committee to continue its strategy of aggressive easing to help revive the economy and inject liquidity into the troubled credit system. The FOMC has cut the key short-term funds rate three full percentage points to 2.25% since last September. Five of the seven categories in the Chicago business barometer showed an increase in March from the previous month, though some key indicators remained below 50. Supplier deliveries showed the biggest recovery, rising to 54.9 from 39.6 in February. The employment category rose to 44.6 from 33.5, though it was below neutral for the fourth consecutive month, while new orders increased to 53.9 from 48.8. Among the categories showing a decline, order backlogs slipped from 40.9 to 36.8, representing the lowest mark since November 2001, NAPM-Chicago said. The inventories category fell to 42.0 from 46.0. -By Stephen Wisnefski and Howard Packowitz, Dow Jones Newswires; (312) 750 4142; stephen.wisnefski@dowjones.com (END) Dow Jones Newswires 03 -31 -08 1038ET