From: ScottW48@hotmail.com   
      
   The ISM Manufacturing New Orders Index came in at a reading of 46.8 for August   
   2023. This is a level that signals weakness for new industrial orders.   
      
   However, the bigger story is that August marked the 12th consecutive month of   
   contraction for the ISM Manufacturing New Orders Index. There have only been   
   three instances in the 75 years (since 1948) that this index has been reported   
   where we've    
   witnessed a full year or longer of readings below 50. The only two other   
   instances were in 1981-1982 (18 months) and 2008-2009 (14 months).   
      
   Furthermore, every instance where the ISM Manufacturing New Orders Index came   
   in below 50 for at least a nine-month stretch has resulted in the U.S. economy   
   falling into a recession. Based strictly on historical precedent, this index   
   is telling investors    
   that a U.S. recession is coming.   
      
      
   ScottW   
      
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