US Equity and Economic Review: Don't Be Too Spooked By the Sell-Off (At Least, Not Yet), Edition

     The US economy is bifurcated: manufacturing is in a mild recession while services are solidly expanding.  The ISM manufacturing index printed below 50 for the second consecutive month with a reading of 48.2.  New orders and production were also below 50, although exports orders expanded slightly.  Only 6 of 18 industries are growing, while 10 of 18 are contracting.  With the strong dollar, weak emerging economies and oil slowdown, these readings shouldn’t be surprising. 

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