Manufacturing and services demand is deteriorating: The ISM...

Manufacturing and services demand is deteriorating:

The ISM Services PMI new orders index dropped 5.9 points in May, to 46.4, its second-lowest reading since 2020.

Excluding 2020, this was the lowest reading since the 2008 Financial Crisis.

At the same time, the ISM Manufacturing PMI new orders index hit 47.6 points, marking the 4th monthly contraction.

Average import and export orders in the manufacturing sector fell to 40 points, the second-lowest in 16 years.

The US economy appears to be slowing.

https://x.com/KobeissiLetter/status/1930651600688697501