The ISM holds a follow-up call with journos monthly after the indexes are released. In today’s call, the ISM’s spokesman is particularly downbeat.
Holcomb says he is concerned about future production given the orders index. He says the jobs index won’t translate into big employment gains. Comments from survey participants showed concern over the global economy. The survey shows overall softening and today’s report could influence the Fed, he says.
Other than that, it’s all good!