Macro: ISM Mfg PMI — 47.4

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Manufacturing regionally, nationally, and globally continues to be in contraction. In line with that theme, ISM reported 47.4% this morning, the 14th straight month of contraction. Manufacturing is contracting at slower rates and export orders continue to show improvement. To date, this has played out more like a slowly recovering COVID hangover. The fear is weak demand signaling recession, but that hasn’t been the case to date as seen by the green trend line I drew into the graphic.

ISM MFG PMI 47.4


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Disclaimer: This information is presented for informational purposes only and does not constitute an offer to sell, or the solicitation of an offer to buy any investment products. None of the ...

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