It seems that some experts might finally have to use the “r” word.  Following in the footsteps of housing and banking entities, manufacturers seem to be falling down, with a big dip in a relevant index occurring in October.

Bob Willis reports, “The Institute for Supply Management’s factory index fell to 38.9 from 43.5 in September; 50 is the dividing line between expansion and contraction.”  A score this low hasn’t been seen since 1982.

Also, “The Commerce Department said separately that construction spending fell for the eighth time in 10 months in September.”

Given the wait-and-see mode most consumers have entered, none of this is likely to get better in the near future.  More interest rate adjustments and incentives packages may come about as a result.  The president-elect could even try to get an early start on some sort of grander recovery plan.

In the meantime, yes, don’t be surprised if you hear the term “recession” coming from some important places.