The ISM services report used to be one of my favorite economic indicators. It was a great forward-looking data point on the largest part of the US economy.
But in the post-pandemic period it hasn’t been helpful. There have been three sharply lower prints indicating a rapid deterioration in the economy and all three proved to be fakeouts and no weakness in the services side of the economy developed.
This article was written by Adam Button at www.forexlive.com.
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