• This is a particularly strong 50.8, ISM’s Hocomb says
  • There is a positive tone underlying the data
  • Sensing more optimism in responses

I normally don’t go into the components of PMIs as the index is what it is, a collection of sub-indexes. This particular release shows a rise in new orders and a drop inventories and prices, a good combo…

I’ll stick with my philosophy that it is what it is: a little weaker than we’d have liked.