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FYI: Similar to the ISM Manufacturing report which bounced back from two straight months of m/m declines, the ISM Non-Manufacturing report also rebounded in May, erasing a three-month streak of losses. While economists were forecasting the headline index to come in at 57.7, the actual reading was much stronger at 58.6. With the strong readings in both the Manufacturing and Non-Manufacturing reports, the combined ISM for the month of May also rebounded to 58.6 from 56.9. While both of these series are off of their recent highs, they are still high relative to history and trending in the right direction. Regards, Ted https://www.bespokepremium.com/think-big-blog/ism-services-report-tops-expectations/
