http://www.bizzyblog.com/2008/02/05/the-ism-non-manufacturing-index-nmi-went-into-the-tank-in-january/ The Business End of the Blogosphere Tue, 02 Dec 2008 19:34:01 +0000 http://wordpress.org/?v=2.5 http://www.bizzyblog.com/2008/02/05/the-ism-non-manufacturing-index-nmi-went-into-the-tank-in-january/#comment-120329 dscott Tue, 05 Feb 2008 20:10:05 +0000 http://www.bizzyblog.com/2008/02/05/the-ism-non-manufacturing-index-nmi-went-into-the-tank-in-january/#comment-120329 The gasoline demand is not below normal for this time of year, and the price of gas is dropping so I'm not that concerned about the non-manufacturing index given the change in methodology. However, February is the lowest fuel consumption month of the year so there may be upward pressure on prices in March so back over $3/gallon. So long as there isn't another price spike on gas, I think the market will continue to adjust without layoffs. If on the otherhand, Iran gets it's surrogates to make trouble to cause the price of oil to spike, then we are all in trouble. This camel's back is loaded with straws, I'm not sure how many more it can take. The gasoline demand is not below normal for this time of year, and the price of gas is dropping so I’m not that concerned about the non-manufacturing index given the change in methodology. However, February is the lowest fuel consumption month of the year so there may be upward pressure on prices in March so back over $3/gallon. So long as there isn’t another price spike on gas, I think the market will continue to adjust without layoffs. If on the otherhand, Iran gets it’s surrogates to make trouble to cause the price of oil to spike, then we are all in trouble. This camel’s back is loaded with straws, I’m not sure how many more it can take.

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