We believed that the increment of the May ISM PMI was an aberration and we won't be making an analysis of the PMI since it is pointless to do so. However, we will provide the chart for our viewers to make their own analyses.
Well, let's take a look at the 5 US regional manufacturing indexes in May in the US.
The Philadephia index declined significantly to 2.6.
The Richmond index declined significantly to -9.
The Kansas index declined to 19.
The Dallas (Texas) index declined significantly to -7.3.
As 4 of the US regional manufacturing indexes declined in May 2022, we were convinced by these PMIs that the ISM PMI in May was an aberration and the future would still remain a downward trajectory for the US.
The US services index also continued on its downward trajectory after reaching its peak in 2021.
Are we the only ones with this conviction? No! Let's take a look at what the others said.
