Manufacturing Industry
"The economy is well into a healthy recovery".(Economy: how supply managers see business)
Purchasing, December, 2003
* "The economy is well into a healthy recovery," says a November policy statement from the Shadow Open Market Committee (SOMC), a self-appointed watchdog group for the Federal Reserve's Federal Open Market Committee (FOMC). The SOMC is concerned that Fed officials and other forecasters may be overemphasizing deflation risks, leaving "increasing volatility and uncertainty in the real economy," and causing confusion about the Fed's commitment to minimizing future inflation risks.
Deviating somewhat from the consensus outlook, SOMC also projects "healthy" employment growth in coming quarters.
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