ISM Manufacturing Is Giant, Screaming Fireball

ISM Manufacturing Is Giant, Screaming Fireball

ISM manufacturing was expected to come in hot for March. And it did. The market was looking for 61.5, a print that would have represented another scorcher. Instead, ISM printed 64.7 (figure below), the highest in almost four decades. The range, from nearly six-dozen economists, was 59.4 to 65. So, the actual read essentially matched the most optimistic guess. "This is the highest reading since December 1983 (69.9%)," the accompanying color said. "Prior to that, the Manufacturing PMI registe
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