BIG MISS: JUNE ISM TANKS TO 49.7, PRICES PAID COLLAPSES

Ford Factory Assembly Line Woman EngineA worker builds an engine for a 2012 Ford Focus on the assembly line at the Ford Motor Co.’s Michigan Assembly Plant.

Photo: Bill Pugliano/Getty Images

ORIGINAL POST: Final big datapoint of the day: June ISM.Analysts expect a reading of 52.0, down from 53.5 last month.

Remember that anything above 50 is growth.

We’ll have the number LIVE at 10:00 AM ET.

UPDATE: ‘Big miss at 49.7.

The reading, which represents contraction, is well below the 52.0 that was expected.

The Prices Paid Index (which measures the cost of goods for companies) went into total freefall, falling from 47.5 to 37.0.

The full report can be found here.

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