Pantheon Macroeconomics - We have lost count of the number of times the drop in the ISM manufacturing survey, in the wake of the plunge in oil prices, was a harbinger o f recession across the whole economy. It wasn't, because the havoc wreaked in the industrial economy by the collapse in capital spending in the oil sector was contained.

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1 December. 2016 ISM Set to Show that Manufacturing is Recovering, Albeit Slowly

By Ian Shepherdson

We have lost count of the number of times the drop in the ISM manufacturing survey, in the wake of the plunge in oil prices, was a harbinger o f recession across the whole economy. It wasn't, because the havoc wreaked in the industrial economy by the collapse in capital spending in the oil sector was contained.

Posted: 1st Dec 2016 in 'U.S. Documents'

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