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US Factory Recession Eases
Could've been worse.
That, in a nutshell, was the takeaway from Monday's update on the marquee gauge of US manufacturing activity.
I doubt most readers need the backstory, but just in case: US manufacturing's mired in a two-year (and counting) quagmire, at odds with the Biden administration's political messaging which in places touted a renaissance on the factory floor.
ISM's gauge spent 24 of the last 25 months below the 50 demarcation line that separates expansion from contraction. November
