The Institute for Supply Management’s index of non- manufacturing businesses increased to 53.3 last month from 52.7 in July.
Keynesian economists projected a decline. A Bloomberg News survey showed that the median expectation of 74 Keynesians was a drop to 51.
Having no sound theory,Keynesian economists forecast off any twig of economic data in front of them. They are completely ignoring the massive money printing now being conducted by Ben Bernanke. Bernanke money printing will most assuredly boost the economy in a manipulated fashion that will show strength in such indicators as the ISM.
Today’s report follows the group’s Sept. 1 figures that showed manufacturing also unexpectedly expanded in August.
i missed the link that pointed to the survey from avowed keynesians - the one in your post just specified "economists". Would you mind updating the link so that this post would be coherent?
ReplyDeleteThanks.