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ISM Data and Upcoming Jobs Report

This ISM Manufacturing Index for August was 52.9.  This continues an eight-month streak of gains.  As a real-time read on the economy, the ISM research says that this pace, if annualized, would indicate GDP growth of 3.7%, near the top of the range of consensus forecasts.

The ISM numbers are better than other data we watch more closely.  We are not very bullish on Friday's employment report.  We'll do our monthly employment article soon.