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Monday, March 2, 2009

ISM Manufacturing @ Unlucky 13

Better late than never? Or just too late? (Traveling all week so a lot these economic releases may be delayed).

Today's ISM Manufacturing release shows the index contracted a 13th straight month. There was some optimism stating the second derivative turned positive (i.e. it was better than last month, though still contracting), but it is hard for me to be optimistic off of a sharp contraction from already low figures...

Source: ISM