AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
ISM Services PMI Coming in a Lot Lower Than Expected at 49.6
The ISM services PMI came in a lot lower than expected, kind of weird at 49.6 versus an estimate for 55. And then earlier in the week, we also had a slightly lower ISM manufacturing headline. Can we talk a little bit more about the manufacturing outlook? Because there are a lot of questions about how much you can read into the PMIs. But Connor also made the point about inventories and how much of a role they have potentially played in 2022.