CONVEX
Past Release · ISM Mfg

June 2023 ISM Mfg Report

Thursday, June 1, 2023

ISM Mfg printed at 100.12, a -0.80% move from the prior reading of 100.93.

Headline Reading
Industrial Production
100.12
Jun 1
Prior
100.93
Absolute
0.81
Percent
-0.80%

What to Watch For

  • Headline ISM vs 50 threshold
  • New orders subindex, forward indicator
  • Employment subindex
  • Prices paid, inflation signal
  • Supplier deliveries, supply chain signal
  • Inventories relative to new orders

Expected Market Reaction

ISM beat with strong new orders: industrials/cyclicals outperform, copper/oil up, rates up. ISM miss with weak new orders: defensives outperform, rates down, dollar up.

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