From: pianoforte109@yahoo.com   
      
   On 9/9/23 10:07 AM, ScottW wrote:   
   > 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.   
      
   Thanks, Fed! Reuters: Manufacturing, which accounts for 11.1% of the   
   economy, has been hammered by 525 basis points worth of interest rate   
   increases from the Fed since March 2022.   
      
   This measure will improve if the Fed foregoes its next hike.   
      
   --- SoupGate-Win32 v1.05   
    * Origin: you cannot sedate... all the things you hate (1:229/2)