More Signs of a Financial Economy; Not a Production Economy
10xLogistics
JUNE 7, 2013
On June 3 the Institute for Supply Management issued their May ISM index and it came in at 49. Unfortunately, this means the manufacturing component of our economy actually contracted in May (despite all the talk of a manufacturing renaissance). This is the lowest since November of 2012 and the lowest level since June of 2009. Both the price index and employment index showed decreases as well.
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