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).
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!!
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