ANOTHER CORRECTION: ISM Reports Wrong Manufacturing Number, Revises It Up, Then Revises It Down
Seconds ago, the Institute of Supply Management (ISM) corrected the headline number of its manufacturing index to 55.4 against a previously corrected reading for 56.0.
To be clear, this is the second correction today.
At 10:00 a.m., ISM said the index fell to 53.2 in May from 54.9 in April.
And then just before 11:30 a.m., ISM’s Bradley Holcomb (according to Bloomberg’s Carlos Torres) said „There was a software error that applied last month’s seasonal adjustment factor to the new data.“ At that time, ISM said the correct May number was 56.0
And now they’re saying it’s actually 55.4.
Following the second revised print, Ian Shepherdson said, „Amateur hour at the ISM strikes again.“