ISM Manufacturing Breaks Over reading of 60

A very bullish report on the ISM Manufacturing front as a reading of 60.8 was hit.  While manufacturing is only 11% of the economy, and 9% of employment (and employs less people today than anytime since the early 1940s) it still has a good halo effect, as a better outlook for manufacturing workers feeds into associated service workers around them.  Thursday’s ISM Non Manufacturing is more pertinent to the greater economy.

As we have seen in other recent reports, prices paid jumped sharply…. as in 2008 this should begin to cut into profit margins. However, backlog and new orders were very promising in this report.

The data has the S&P 500 back to yearly highs as the “correction” (1 day) is already a distant memory. Hope you did not blink. :)

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

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