Opinion: Doomsayers' latest warnings about a recession are based on a half-baked argument. By Neil Dutta of RenMacLLC
People worried about a recession in the US are particularly focused on the ISM manufacturing index, which has been in contraction territory for the past few months. But the ISM index is bad at predicting downturns in the economy and typically overstates weakness in the manufacturing sector. The ISM is also out of step with other strong economic indicators. Neil Dutta is head of economics at Renaissance Macro Research. Visit Business Insider's homepage for more stories.
People worried about a recession in the US are particularly focused on the ISM manufacturing index, which has been in contraction territory for the past few months. But the ISM index is bad at predicting downturns in the economy and typically overstates weakness in the manufacturing sector. The ISM is also out of step with other strong economic indicators. Neil Dutta is head of economics at Renaissance Macro Research. Visit Business Insider's homepage for more stories.
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