Manufacturing slows in February

Manufacturing activity expanded in February for the seventh straight month, but at a slower pace, a purchasing managers' group said Monday.

The Tempe, Ariz.-based Institute for Supply Management's U.S. manufacturing index slipped to 56.5 from 58.4 in January.

The below chart illustrates the cycles of liquidity-driven growth. The comparison of the 70's with today does not suggest a similar economic setup. The ISM data limited data history only allows for near term cycle comparisons.

ISM Prices Paid Index (PP) to National Purchasing Manager's Index (PMI) Ratio:


Source: money.cnn.com