Three reasons why the ISM services index has become an unreliable indicator

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ISM fakeout

The ISM services report used to be one of my favorite economic indicators. It was a great forward-looking data point on the largest part of the US economy.

But in the post-pandemic period it hasn't been helpful. There have been three sharply lower prints indicating a rapid deterioration in the economy and all three proved to be fakeouts and no weakness in the services side of the economy developed.

bush meme

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