2min chapter

Odd Lots cover image

Neil Dutta and Conor Sen on the Chances of a US Soft Landing

Odd Lots

CHAPTER

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.

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