US ism....later1 Oct 2021 10:27
worth watching...Why is it important?
It is considered to be the most important of all manufacturing indices. The ISM Manufacturing Index is liable to move markets, especially when periods of rapid economic growth are approaching the end of their cycle. Its reputation as one of the chief market-moving economic releases is related to how quickly the data is released: the information contained in the report presages other key data, such as Non-farm Payrolls and CPI. Moreover, variations in manufacturing tend to wield the greatest influence on changes in GDP, despite manufacturing constituting only a comparatively small proportion of GDP. Trends in the direction of the economy are accordingly often foreshadowed by developments in manufacturing; an upturn in manufacturing activity after a period of recession is a strong indication of a reversal upward in the economy. On the other hand, waning levels of manufacturing orders and production in a phase of expansion may well suggest a slowing economy - or even herald the beginning of a recession. Released by: Institute for Supply Management (Monthly)