ISM continues to decelerate

The September ISM shows manufacturing continuing to weaken

Of course, this is a forward looking economic indicator, so why would our friends at the inflation-fighting Federal Reserve take it or other signs of deceleration and waning inflation into account? Why, when they have some nice, fat, backward-looking data like CPI?

But I digress. You can click the image to get a nice visual of decelerating US manufacturing including, notably, Prices, New Orders, Backlogs and rising customer Inventories.

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