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ISM Report On Manufacturing Is Not As Bad As Some Seem To Think
A few days ago, the Institute of Supply Management (ISM) released its closely watched report on manufacturing. It offered little new on the state of the economy. Media outlets noted that in November the index fell slightly from October levels and fell short of consensus expectations, which, as is usually the case, centered on the previous month’s release. That interpretation fostered some concern that the economy is softening further and inspired some to call for a near-term recession. A slightly broader view of the ISM report showed, however, that the economy has in fact stabilizing around the slowed pace of real ... (full story)