The ISM RoB continues on our theme of inflationary growth, as first indicated in the Semiconductor Equipment sector while everyone was freaking out about the backward looking employment situation. Full ISM report here.
The notables are highlighted. Costs eased? They are still elevated and no threat to our thesis.
The caveat? Even though business activity is brisk manufacturers were still not buying big ticket items like machine tools (these go in the $100,000 to $1,000,000 range) as of the end of May. It is a lagging item however. From EDA…
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