A revision to the revision

NYSE

Traders work on the floor of the New York Stock Exchange on May 21, 2014 in New York City.

Today we present a number not to be loved.

Economic indicators are often revised, higher or lower, usually a month or two after they come out. Right?

Well, today's report from the Institute of Supply Management, the ISM for short, which measure how American factories are doing, was revised twice in the space of about three hours. Wall Street sold off hard on the initial weak, but incorrect, report.

The excuse:

"Software glitches," the ISM said.

About the author

Kai Ryssdal is the host and senior editor of Marketplace, public radio’s program on business and the economy.

Comments

I agree to American Public Media's Terms and Conditions.
With Generous Support From...