The latest ISM report reveals concerning figures as New Orders and Prices Paid fall below expectations, signaling continued manufacturing contraction for 14 consecutive months.
ISM subindices:
New Orders comes in far below expectations at 47.1, falling from 48.3. Bloomberg surveys had predicted 49.1.
Prices paid comes in with a HUGE miss at 45.2, falling from 49.9. It was predicted to fall to 49.5. Good news on the disinflation front. pic.twitter.com/oR1yFoofBH— Longview Economics (@Lvieweconomics) January 3, 2024
ISM manufacturing has now been in contraction for 14 months, a historic run. pic.twitter.com/ZVbkLT6viL
— Longview Economics (@Lvieweconomics) January 3, 2024
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