ISM PMI Drops Again but Manufacturing is in a Good Position – How, Why?

Tim Fiore, ISM’s Committee Chair for the Manufacturing Report on Business® covers a lot of good news within manufacturing despite the drop in the overall Purchasing Manager’s Index number. Has this soft landing been good for manufacturing versus a hard landing? June may cast the die for the balance of 2023 and 2024 if order books and backlog get any softer, but could improve rapidly if orders begin to flow.