At a level of 49.7 for the month of June, Monday’s ISM Manufacturing report was significantly weaker than expected (52.0). It is also the first reading below 50 in nearly three years (July 2009), and it prompts the inevitable question of whether or not the current weakness is indicative of a recession or not.
In order to help put today’s ISM Manufacturing report into perspective, we sent out a report to clients earlier today that looked to see where prior sub-50 readings in the indicator occurred relative to recessions. Clients that wish to view the report can click on the link below. If you're not already a Bespoke Premium member, subscribe today!