They say that the third time is the charm. Let's hope so for the ISM's sake. The ISM has realised that not only did it make a crucial “software error” in its seasonal adjustments but, even once it had corrected that problem, the first correction it issued contained another error in calculating the headline index. After two corrections, the survey now shows the manufacturing index strengthening to a five-month high of 55.4, from 53.2.
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