– by New Deal democrat The economically weighted ISM manufacturing + services indexes have become one of my favorite datapoints. That’s in part because the former has a nearly 80 year history of being a solid leading indicator, although somewhat attenuated since the start of the Millennium. But the latter now also has a long […]

– by New Deal democrat Because manufacturing is much less important to the economy than in the decades before the Millennium, the economically weighted average of the ISM services index (75%) as well as manufacturing (25%), especially over a three-month period, has been much more accurate since 2000. In March the expansionary headline and new […]