It's not so bad really says the ISM after poor report

  • Indexes are still fairly high
  • There is a cooling off in growth
  • Non-mfg is seeing a shortage if labour
  • Jump in prices is due to fuel prices
  • Services still holding at good levels
  • Not concerned about 1 month slowdown
  • Drop in backlogs not a concern
  • Tough getting skilled and contract workers

It never rains at the ISM