The April 2016 ISM Manufacturing Survey is a ho-hum month of manufacturing molasses. While in growth, Manufacturing is barely so and inventories are in their 10th month of contraction. PMI was 50.8%, -1.0 percentage point lower than March. New orders dropped -2.5 percentage points but are still in growth. Manufacturing Employment is still contracting and has been for five months.
The February 2016 ISM Manufacturing Survey is yet another month of manufacturing malaise. Manufacturing is in a 5th month of contraction, although much less so than last month. PMI was 49.5%, 1.3 percentage points higher than January.
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