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A few notes on the....................>

US DATA REACT
US DATA REACT: A few notes on the expectation-beating ISM.
- Once again, Supplier Deliveries (+11 pp to 76, highest since 1974 - indicating
SLOWER deliveries) limited the decrease in the headline figure.
- The Employment Subindex of 27.5 (lowest since 1949) does not bode well for
nonfarm payrolls.
- Among the 6 big industry sectors: Food, Beverage & Tobacco Products strongest,
while Transportation Equipment and Fabricated Metal Products weakest.
- The only two sectors that saw expansion (of 18): Paper Products and Food,
Beverage & Tobacco.
- Some comments: "Production stopped, other than to make hand sanitizer for
those in need." (Chemical Products) "COVID-19 has destroyed our market and our
company. Without a full recovery very soon, and some assistance, I fear for our
ability to continue operations." (Nonmetallic Mineral Products)

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