FYI: After a series of weaker than expected regional Fed surveys that showed contractionary business environments for the regions that covered, the release of the May ISM Manufacturing report bucked the trend. Not only did the headline index remain in growth territory (above 50), but it also exceeded economist expectations (50.3), rising to a level of 51.3 from last month’s reading of 50.8. After five straight months towards the end of 2015 and into early 2016, the headline ISM Manufacturing index has now been above 50 for three straight months.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-bucks-the-trend-of-regional-fed-surveys/
