Cheer up, things could be worse!

The Institute of Supply Management’s August manufacturing report was very weak with a reading of 50.4 barely above the 50 level, indicating expansion. And, its steadily decline from a high of 61.4 in Feb is troubling. But, don’t fret. Other manufacturing surveys were better, and, historically, the index must drop to about 42 or 43 before a recession is imminent. So, relax, things can get worse, before the really get worse.

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