Economy is Not Fun

The Institute of Supply Management’s Manufacturing Activity Index fell to 53.5 in May from 60.4. This shows the pace of manufacturing activity moderating since the index reached a 7 year high of 61.2 in March. Add to it a decline in Conference Board’s Consumer Confidence Index from 66 in April to a 6 month low of 60.8 in May and the signs of a slowing economy are becoming very clear.

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