Regional Fed manufacturing surveys and the ISM PMI

Yesterday, in a short preview of coming negative news, I mentioned that the Institute for Supply Management (ISM) PMI will be released next week (Wed, Sept 1st) – and that the ISM PMI will probably continue to decline based on the regional manufacturing reports. Gavyn Davies at the Financial Times posted a graph of the New York and Philly Fed surveys compared to the ISM’s PMI…