August ISM Manufacturing Index: Improvement or false start?

Today, the Institute for Supply Management (ISM) announced an August PMI of 52.9, a full 4 points higher than July and the highest we’ve seen since June 2007. Although many news sources and even President Obama himself were quick to declare the improved number as a sort of economic victory, ISM chairman Norbert J. Ore urged caution and realism...

...Overall, seeing the PMI over 50...