Results of the April ISM manufacturing survey
– Prior was 57.2
– Prices paid 68.5 vs 67.7 expected
– Prior prices paid was 70.5
– Employment 52.0 vs 56.0 prior
It’s a miss but it’s really just taken some of the steam out of the election rally. Then again, that could be telling. There’s a sense of disappointment setting into Trump trades and rather than the real economy catching up to the sentiment surveys, the surveys are falling back.
