One Of These PMI’s Is Not Like The Others

By |2015-07-02T16:23:16-04:00July 2nd, 2015|Economy, Federal Reserve/Monetary Policy, Markets|

The ISM Manufacturing PMI for June was up to 53.5 which was the best monthly showing this year. That has been taken as inarguable insistence that the US factory sector is doing what economists expect, even though 53.5 is significantly below both June 2014 and the 12-month average (which includes four months beginning February below 53) of 54.7. As usual, [...]