The number: Huge miss. July ISM came in at just 50.9 vs. estimates of 54.5. It’s also well below 55.3.
The prices paid index plunged from 68 to 59.0.
According to Bloomberg, it’s the lowest since July 2009.
Stocks are in the red.
Bad news for the economy.
Original post: Given the run of weak data, this will be a closely-watched one..
July ISM (a survey of manufacturing) is expected to come in at 54.5 vs. 55.3 last month.
The “whisper” is probably lower.
Stocks are up, but have came way below earlier highs.
The number is out at 10:00 AM. We’ll have it here LIVE.