RSM: ISM Index Bolsters Calls for Steeper Interest Rate Hikes

OMA Connections Partner RSM reports that the latest ISM Manufacturing Purchasing Managers’ Index points to very modest growth and continues to show its lowest reading since June 2020.

But according to RSM’s analysis, the sentiment report from ISM “doesn’t read like one in which the economy is either in a recession or will soon be falling into one.” Instead, the data “will almost certainly bolster calls for a 75-basis-point increase in the Federal Reserve’s policy rate later this month.” 9/1/2022