PMI Index Lowest Reading In 49 Months

The Purchasing Managers Index came in at 49.3%. It’s only the second time and its lowest reading since November, 2002 when we were emerging from recession. While the reading indicates mild overall economic expansion, the manufacturing sector is contracting. This is consistent with the overall view of the 2007 by most economists.

It’s becoming more important to watch these numbers because there are numerous factors, in the economy, that could kickoff a rapid downturn.