Wells Fargo Wrote The Best Reaction To Today's ISM Manufacturing Report Fail

A lot of Wall Street economists found themselves rewriting and resending their reactions to today’s ISM manufacturing report after ISM corrected its numbers twice over the period of two and a half hours.

Many of the notes that crossed the Business Insider Markets desk were completely rewritten. And many economists took jabs at ISM.

Wells Fargo’s John Silvia, however, was a bit more forgiving.

“That’s why pencils have erasers,” he said.

Silvia circulated a note that looked like an edited draft in MS Word.

“In our collective memory we can think of few instances where the wrong number hits the wire; but it can happen from time to time,” wrote Silvia. “In the following paragraphs we reprint text from our original report with corrections to the new numbers. Old text is crossed out like this and new text reflecting the third set of numbers is in blue italics like this.”


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