Institute for Supply Management manufacturing index stands at 36.2%, projected to fall below 36% -- the lowest level since 1982 – the depression is real
Joe Wineman
Dec. 28, 2008

Manufacturers are taking aggressive action to reduce production in line with weak demand, and on top of this do no want to be caught with unwanted inventories. The result is deep depression in manufacturing sector and an accelerating depression in the general economy accompanies by 1930s style deflation.

For November, the Institute for Supply Management reported that its manufacturing index came in at 36.2% -- the lowest level since 1982 and the fourth consecutive month of contractions. It is at all time low since 1982. On Friday, ISM will report the data for December, and the market is expecting results far blew 36%.

The December purchasing managers index that shows Chicago region business activity will also confirm depressed activity.

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