Sponsored Content
« One Good Poll | Main | Al Franken Now Working At Air America For Free »
June 01, 2004

What the World Needs Now is Cowbell, Sweet Cowbell

Data show economy roaring at record levels:

NEW YORK (Reuters) - U.S. factories cranked up output in May and construction spending surged to a third straight record high in April, according to reports on Tuesday that showed the economy gathering speed.

A measure of factory employment jumped to the highest level in 31 years as the nation's factories marked a full year of recovery, raising hopes for a strong gain in manufacturing jobs in Friday's national payrolls report.

Taken together, the data supported the case for a Federal Reserve rate rise later this month.

However, a third report gave a more subdued view of the job market in May, as the number of planned layoffs rose for the second month in a row.

There's always somethin'.

The Institute for Supply Management said its index of national factory activity rose to 62.8 in May from 62.4 the prior month, beating expectations of a small decline to 62.0. The index was not far off its two-decade high of 63.6 reached in January.

"Manufacturing activity has gone from being the U.S. economy's laggard to one of the driving forces behind the current recovery," said John Lonski, chief economist at Moody's Investors Service.

"That big jump by the employment index for the month of May favors another reading on payroll employment which exceeds expectations," he added. The job component rose to 61.9 in May -- the highest since April 1973 -- from 57.8 the prior month.

Markets are awaiting Friday's May payrolls report, which is expected to show an increase of around 216,000 non-farm jobs and seal the case for an official rate rise at the Fed's late June meeting.

Cowbell. Made in the USA.

digg this
posted by Ace at 01:32 PM

| Access Comments

Recent Comments
Joe Mannix (Not a cop!): "... The discovery process will be lit. ... Posted ..."

Martini Farmer: "> "A-B should double down and make the nozzles on ..."

micky: "A-B should double down and make the nozzles on the ..."

Romeo13: "Which makes sense. Nike is an all-in woke brand, a ..."

Joe Mannix (Not a cop!): "At some level, it's probably also: "you fucktards ..."

rickb223 [/s][/b][/i][/u]: "Nope, doesn't work that way. [b]You sucked the d*c ..."

Jordan61: "Son has been drinking a local beer, No-Li. He like ..."

Chairman LMAO: "66 I swear Modelo Negro was off the market for a m ..."

Walter Freeman: "[I]@ace: "Maybe it's worth it to them to spend mil ..."

Christopher Taylor [/i][/i][/s][/s][/b][/b][/u][/u]: "[i]The discovery process will be lit.[/i] Just ..."

Reuben Hick: "[i]I get it that taste is subjective, and for sure ..."

13times: "Years ago I walked past a grocery store Dos Equi s ..."

Recent Entries

Polls! Polls! Polls!
Frequently Asked Questions
The (Almost) Complete Paul Anka Integrity Kick
Top Top Tens
Greatest Hitjobs

The Ace of Spades HQ Sex-for-Money Skankathon
A D&D Guide to the Democratic Candidates
Margaret Cho: Just Not Funny
More Margaret Cho Abuse
Margaret Cho: Still Not Funny
Iraqi Prisoner Claims He Was Raped... By Woman
Wonkette Announces "Morning Zoo" Format
John Kerry's "Plan" Causes Surrender of Moqtada al-Sadr's Militia
World Muslim Leaders Apologize for Nick Berg's Beheading
Michael Moore Goes on Lunchtime Manhattan Death-Spree
Milestone: Oliver Willis Posts 400th "Fake News Article" Referencing Britney Spears
Liberal Economists Rue a "New Decade of Greed"
Artificial Insouciance: Maureen Dowd's Word Processor Revolts Against Her Numbing Imbecility
Intelligence Officials Eye Blogs for Tips
They Done Found Us Out, Cletus: Intrepid Internet Detective Figures Out Our Master Plan
Shock: Josh Marshall Almost Mentions Sarin Discovery in Iraq
Leather-Clad Biker Freaks Terrorize Australian Town
When Clinton Was President, Torture Was Cool
What Wonkette Means When She Explains What Tina Brown Means
Wonkette's Stand-Up Act
Wankette HQ Gay-Rumors Du Jour
Here's What's Bugging Me: Goose and Slider
My Own Micah Wright Style Confession of Dishonesty
Outraged "Conservatives" React to the FMA
An On-Line Impression of Dennis Miller Having Sex with a Kodiak Bear
The Story the Rightwing Media Refuses to Report!
Our Lunch with David "Glengarry Glen Ross" Mamet
The House of Love: Paul Krugman
A Michael Moore Mystery (TM)
The Dowd-O-Matic!
Liberal Consistency and Other Myths
Kepler's Laws of Liberal Media Bias
John Kerry-- The Splunge! Candidate
"Divisive" Politics & "Attacks on Patriotism" (very long)
The Donkey ("The Raven" parody)
Powered by
Movable Type 2.64