Thursday, November 5, 2009
Let us not forget the Code of Silence. Those that go oobatz get pinched.
November 5, 2009 – Issue 3629
The King Report
The ISM Non-Manufacturing Index declined to 50.6 from 50.9 in October; 51.5 was expected. More importantly, employment declined to 41.1 from 44.3. Given that the service sector is far larger than the manufacturing sector, this decline augurs for softer employment data in October.
Speaking of ISM, few people realize that the index is seasonally adjusted and the ISM will not divulge the adjustment.
People that called ISM to get the adjustment were told to ‘figure it out for yourself’.
(The cafones and poveretts, for whom the books are always closed have been told 'col tempo la foglia digelso diventa seta'. -AM)