• Prior reading was 19.8
  • New orders 5.3 vs 10.2 prior
  • Employment 3.5 vs 7.7 prior
  • Prices paid 17.3 vs 21.5 prior
  • Six-months business conditions 38.9 vs 44.9 prior

The fall in the main index is not as bad as it sounds. It’s giving back a portion of the outsized gains from July.