by Mike ‘Mish’ Shedlock
Mish Talk
What little hope remaining for a September rate hike vanished this morning with the non-manufacturing ISM numbers.
New orders posted the lowest score since 2013 and new export orders plunged into contraction.
Economists missed the mark on this on by a mile. The Econoday Consensus reading was 55.0 in a range of 54.0 to 56.1. The posted number came in at 51.4.