ISM's data continues to lag Markit's (due to the utter farce of supplier delivery reversals not being factored as a devastatingly bad thing in the former).

• Markit Manufacturing 36.1 (record low)
• Markit Services 26.7 (record low)
• ISM Manufacturing 41.5 (not record low due to supplier delivery times)
• ISM Services 41.8 (lowest since April 2009 - finally caught down to reality)

Finally ISM Services caught down to reality, somewhat, in April...

Measures of business activity, new orders and employment all fell to record lows last month in figures going back to 1997, according to survey data from the Institute for Supply Management on Tuesday. The industries in ISM’s report represent about 90% of the economy.

And the ISM Services print is way better than it should be because of this shitshow!!

To read more visit Zero Hedge.

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