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Examining the Recent Slump in ISM Manufacturing Index | Epsiode 140 | 06-04-24
We turn our analytical lens toward the ISM Manufacturing Index, which has displayed a concerning downturn. May's data reveals a sector in distress, contracting in 18 of the last 19 months. Such persistent weakness raises alarm bells about the possibility of an approaching recession. The new orders segment, a critical predictor of future manufacturing activity, suffered its sharpest decline since March 2022, indicating further headwinds for the industry.
Despite these gloomy indicators, there was an unexpected twist in the tale of manufacturing employment. After a seven-month slump, employment…
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