Blistering GDP and ISM Manufacturing Reports
From the looks of the latest GDP and ISM Manufacturing reports, you’d be a fool not to believe the economy is in a V-shaped recovery.
On Friday, The Commerce Department reported that 4th quarter advanced real GDP grew at a 5.7% annual rate. That’s up from a 2.2% increase in the 3rd quarter.
This morning, The Insitute for Supply Management reported that their manufacturing survey for January came it at a 5 1/2 year high of 58.4.
Can we believe them? What are these numbers actually measuring? Why isn’t the market responding better to these blistering economic reports?