{"id":6974,"date":"2010-01-04T13:34:22","date_gmt":"2010-01-04T18:34:22","guid":{"rendered":"http:\/\/www.thedisciplinedinvestor.com\/blog\/?p=6974"},"modified":"2016-09-20T17:38:54","modified_gmt":"2016-09-20T21:38:54","slug":"economics-of-the-day-rumor-mill-was-way-off-but-inflation-is-here","status":"publish","type":"post","link":"https:\/\/thedisciplinedinvestor.com\/blog\/2010\/01\/04\/economics-of-the-day-rumor-mill-was-way-off-but-inflation-is-here\/","title":{"rendered":"Economics of the Day: Rumor Mill was WAY OFF, But Inflation is Here"},"content":{"rendered":"<p>We had some economic news today that was mixed. Early morning rumor mills were suggesting that the ISM Manufacturing index would surge to 65. If you recall, over the past few weeks we posting charts and discussions on the <a href=\"http:\/\/www.thedisciplinedinvestor.com\/blog\/2009\/12\/23\/richmond-fed-business-conditions-continue-to-falter\/\">Richmond<\/a>, <a href=\"http:\/\/www.thedisciplinedinvestor.com\/blog\/2009\/12\/18\/economics-we-are-watching-leading-and-philly\/\">Philly<\/a> and the Empire manufacturing indicies. Each was weak and <!--more-->for the most part came in below expectations. Therefore, it was hard to believe that we would see such a move higher for the ISM index.<\/p>\n<p>The actual numbers came in at 55.9 vs 54.3 expectations. (So much for the rumor mill!)<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/ISM-Mnfg-20100104.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4976 aligncenter\" title=\"ISM Mnfg 20100104\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/ISM-Mnfg-20100104.jpg\" alt=\"ISM Mnfg 20100104\" width=\"607\" height=\"328\" \/><\/a><\/p>\n<p>ISM Prices paid came in more inflationary then expectations at 61.5 vs. 57.2. This is a trend that appears to be gaining strength.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/ISM-Prices-20100104.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4977 aligncenter\" title=\"ISM Prices 20100104\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/ISM-Prices-20100104.jpg\" alt=\"ISM Prices 20100104\" width=\"582\" height=\"328\" \/><\/a><\/p>\n<p>Construction spending was slightly worse than expectations at -0.6% vs. -0.5% and the prior was revised down to -0.5% vs. 0.0%.<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/Construction-20100104.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-4978 aligncenter\" title=\"Construction 20100104\" src=\"https:\/\/thedisciplinedinvestor.com\/blog\/wp-content\/uploads\/2010\/01\/Construction-20100104.jpg\" alt=\"Construction 20100104\" width=\"694\" height=\"381\" \/><\/a><\/p>\n<p style=\"text-align: left;\">___<\/p>\n<p style=\"text-align: left;\">Disclosure: <a title=\"Horowitz &amp; Company\" href=\"http:\/\/www.horowitzandcompany.com\">Horowitz &amp; Company<\/a> clients may hold positions of securities mentioned as of the date published.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We had some economic news today that was mixed. Early morning rumor mills were suggesting that the ISM Manufacturing index would surge to 65. If you recall, over the past few weeks we posting charts and discussions on the Richmond, Philly and the Empire manufacturing indicies. Each was weak and<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","footnotes":""},"categories":[5,12],"tags":[481,483],"class_list":["post-6974","post","type-post","status-publish","format-standard","hentry","category-economy","category-markets","tag-economy","tag-markets","et-doesnt-have-format-content","et_post_format-et-post-format-standard"],"acf":[],"_links":{"self":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/6974","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/comments?post=6974"}],"version-history":[{"count":0,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/posts\/6974\/revisions"}],"wp:attachment":[{"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/media?parent=6974"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/categories?post=6974"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thedisciplinedinvestor.com\/blog\/wp-json\/wp\/v2\/tags?post=6974"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}