ISM just came in with a headline modestly better than consensus. The internal data was terrible!
Zero Hedge give us some details:
"The problem is that the beat was once again on purely  artificial data,  with Inventories and Customer Inventories posting the  largest increase  in the month, or basically the two most hollow economic  series. Far  more important - Production, dropped to 48.6, the lowest  since May  2009. Another Pyrrhic victory was the increase in imports and  decrease  in exports: we all know what that means for GDP."
 

 
 
