- by New Deal democrat
This morning’s final economic report is the ISM manufacturing index for September.
This is a short leading indicator, and the new orders subindex specifically is one of the 10 components of the Index of Leading Indicators.
A neutral reading is 50. The overall index came in at 55.4, and the new orders subindex came in at 60.2:
So while the Index pulled back a little bit from August’s levels, it was still a very strong positive.
Again, this is evidence that the economy “wants” very much to expand smartly in the near future, if only the pandemic can be brought under control.