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America’s Factory Recession Rolls On
The first of this week's top-tier US macro data came up short.
A month on from a downside surprise that acted as the first domino in a chain reaction which culminated two sessions later in history's largest intraday VIX spike, ISM manufacturing missed again, printing 47.2 in the update covering August. Consensus wanted 47.5.
Although the headline technically counted as "better" than July's, there wasn't much good about the release. Do note: The ISM headline has only been above the 50 demarcat
