Oddbean

Weak manufacturing measures raise specter of U.S. economic slowdown ========== The ISM monthly survey indicated only 47.2% of purchasing managers reported expansion in August, slightly above July's 46.8% but below the expected 47.9%. Timothy Fiore noted weak demand and reluctance to invest due to federal monetary policy and election uncertainty. The employment index rose to 46%, while inventories increased to 50.3%. The prices index rose to 54%, indicating inflation concerns. The S&P PMI also decreased to 47.9 from 49.6 in July. Following the ISM report, the probability of a Fed interest rate cut increased, with a 39% chance of a half-point reduction. The Dow Jones Industrial Average fell nearly 500 points after the report. #Manufacturing #Economy #Ism #FederalReserve #InterestRates #Inflation #S&p #Employment #EconomicSlowdown #Market https://www.cnbc.com/2024/09/03/weak-manufacturing-measures-raise-specter-of-us-economic-slowdown.html