Manufacturing Sharpest Drop In 4 Years — The Institute for Supply Management’s factory index fell to 49 from last month’s 50.7, the Tempe, Arizona-based group reported today.
It was the fastest manufacturing drop in four years shocking analysts.
Hip, hip hooray to Philadelphia’s Janney Montgomery Scott LLC, whose fixed income strategist Guy LeBas was the only one to call it right.
This news is also likely to shock those at The Philadelphia Inquirer for those few still reading it.